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← Albany Rd Baptist Church

2023-12-31-accounts

REGISTERED CHARITY NUMBER: 1130510

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

ALBANY ROAD BAPTIST CHURCH

Bevan Buckland LLP Ground Floor Cardigan House Castle Court Swansea Enterprise Park Swansea SA7 9LA

ALBANY ROAD BAPTIST CHURCH

CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

Page
Report of the Trustees 1 to 4
Independent Examiner's Report 5
Statement of Financial Activities 6
Balance Sheet 7
Cash Flow Statement 8
Notes to the Cash Flow Statement 9
Notes to the Financial Statements 10 to 17
Detailed Statement of Financial Activities 18

ALBANY ROAD BAPTIST CHURCH

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023

The trustees present their report with the financial statements of the charity for the year ended 31 December 2023. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).

OBJECTIVES AND ACTIVITIES

'But seek first his kingdom and his righteousness, and all these thingswill be given to you as well' Matthew 6 v 33

The Trustees of the Church are charged with fulfilling the purposes of the Church. Our aims and purposes as set out in our charitable objects are the advancement of the Christian faith according to the principles of the Baptist denomination. The Church may also advance education and carry out other charitable purposes in the United Kingdom and/or other parts of the world.

The Church is committed to demonstrating the love of Jesus Christ through word and action in order that people might believe in the Lord Jesus. It welcomes people to worship each Sunday without restriction and with the aim of encouraging them to be part of the Church community of belief. A range of social activities take place during the week all of which are underpinned by Christian ethics and principles.

When planning our activities for the year, the Trustees considered the Commission's guidance on public benefit, particularly the specific guidance on charities for the advancement of religion. Our aim is to help ordinary people to live out their faith as part of the Church community through:

As a church out of conviction and principle we are seeking to follow God's word together. We celebrate where we have come from and the faithfulness of those who have gone before us, and we look for the new thing that God would do through us. We look to combine the best of the past and the present.

Nowhere is this seen more clearly than in our worship where in this past year we have continued to develop our own style that takes the new and the old and seeks to combine them.

The Rev. Richard Hardy is the full-time Minister here at Albany Road with alongside him Peter Littlechild as our Community Coordinator and Kathryn Hubback as our Student Pastor in Training.

2023 has been a year of growth both with our congregation and spiritually. The congregation has become diverse as new faces have appeared at the Sunday services week by week, including a number from different ethnic origins and a variety of circumstances. Several newcomers have joined the church formally and become members, whilst others have clearly made Albany Road their spiritual home and have settled into the life and witness of the church. This has been a source of encouragement and has greatly enriched the fellowship and this has been one of God's blessings upon us as a fellowship as we have continued to grow spiritually and sensed His leading us into new avenues of service both in the local community and further afield.

The life of the church has returned to what it was pre-Covid-19 and we have seen a steady increase in the numbers attending Sunday morning services. Several of our Church Worship activities have remained online, using Zoom - this has included weekly Bible Studies and regular Prayer Meetings and the monthly Sunday evening Communion service.

Several church groups continue to meet during the week including Tuesday morning Bible Study Group; Knit, Stitch and Sew; Lunch Club and Lunch Out on a Sunday following morning service. The Hope in Mental Health project has become well established and continues to provide washbags full of essentials to those patients in need in the Mental Health Crisis Unit.

We have seen a greater sense of optimism and unity in the fellowship than there has been in many years. It very much feels as though as a whole church we are on the same page. Our redevelopment plans for the Church Halls have come to fruition, in partnership with Cadwyn Housing Association, are in their final stages and following the exchange of contracts the building work started in March 2023. We were granted £250,000 from Welsh Government towards the redevelopment of the ground floor of the church halls into a community hub and were granted £100,000 from the Lottery Fund. Cadwyn Housing Association are redeveloping the upper floor of the Church Halls providing 12 Housing Association Flats for our local community. The Church's vision to be centre of the community for years to come and serve our community is finally happening - exciting times ahead.

Page 1

ALBANY ROAD BAPTIST CHURCH

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023

Kath Hubback - Student Pastor in Training

2023 - what a year! It has been an honour and privilege to journey through life's ups and downs with members of the fellowship. From journeying with folk who were in end of life care, to dedicating a new young life, to the joy of baptising those at the start of their new life in Christ, from leading Sunday Worship, to leading prayer meetings and so much more in between. I am so thankful for the continuing love and support of the fellowship, the JLT and especially to Richard for being a mentor extraordinaire!!

Peter Littlechild - Community Coordinator

The building re-development has been front and centre of my work from applying for grant fundraising, dealing with Cadwyn Housing Association, contractors. God's provision has been amazing!! With the sale of the church halls we are now nearly up to £800,000 of funding raised. The project is more than half way through. We look forward to all 2024 will bring.

Major changes were made to the main Church; removing pews, pulpit, re-configuring all the audio visual equipment, having level floor fitted and carpeted. This has made a huge difference, not only to the flexibility of worship space but the openness to the community along with another hire space to provide income to the Church.

The community work is continuing, building up networks and connecting those in need with those who can help. Our emergency fund has come into its own. Week in and week out helping and supporting those in need at point of crisis. Day to day we deal with individuals who are the most vulnerable in our community from rough sleepers, those living with mental health issues, people finding themselves in a personal crisis, refugees and asylum seekers trying to navigate a new country.

Our strategic hire plan is in place, to positively affect social need in the community through others, while creating a sustainable income for the Church. This includes creating partnership and relationships with those we hire to, local businesses, individuals, organisations and charities. Investigating new opportunities and building relationships with Vision 21 and Cardiff Council Day Services. This is a process we hope will bear fruit in future. It is important everyone we hire to shares our vision and values and meets a genuine need. We are definitely moving towards growth and the feeling that recovery after Covid is now allowing business to grow again.

In a wider City provision we are also working with FoodBank, Prince's Trust, Acts 435 and again promoted the work LATCH are doing a with the Cardiff Half Marathon and Housing Justice on their Faith in Affordable Housing Project. I also work with South Wales Baptist Association sitting on their Home Mission (HM) grants team, awarding Churches HM grants based on their applications.

On reflection, for many reasons, It has been a hugely challenging year for me, and a time of personal growth and reliance on God to pull me through. I feel gratitude for his faithfulness and the leaderships support and prayers.

IN MEMORIUM Keith Hyde Enid Jones Madeline Shiers

Page 2

ALBANY ROAD BAPTIST CHURCH

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023

Treasurer's Report 2023

As noted in some of the previous comments 2023 was a year of major change for the Church, with the start of the Redevelopment Programme - the existing Community Halls were sold to Cadwyn in March 2023, and the sale proceeds of £400k deposited with the Baptist Union Corporation Trust Department, the final tranche of the Welsh Government Grant of £125K was received and an initial payment of £220K was made to CADWYN as our Partners in the Project.

During 2023 we received to Legacies both for £20K - one from the late Eric Hyett and the second from the late Bernard and Elaine Pearce, and we were extremely grateful that these members left such generous bequests. Neither bequest made any restrictions on how the funds were utilised but the Joint Leadership Team and Church Members have agreed to retain the monies until such time as we replace the Heating System and the monies will be used towards this project.

A finance Report is provided to the Joint Leadership Team and the Church Members on a monthly basis, and whilst we have moved away from an Annual Budget a 3 month projection is given with each report, and the Church Finances continue to show that we are covering all our day to day costs from Offerings, Rentals and Gift Aid - other costs such as repairs to the Building (including removal of the pews, levelling the floor and replacing the carpet) have been funded from a Trust Fund that is again held with the BUC.

In late 2023 the Accountant acting for the Church - David Poole of Williams Lester Accountants advised us that he was no longer able to Prepare and Examine our Accounts, and therefore the Joint Leadership Team have appointed Bevan Buckland Accounts to prepare our 2023 Accounts.

The actual figures and notes to our Accounts can be found further on in this report.

Independent Examiner

The Independent Examiner to examine Albany Road Baptist Church accounts for 2023 will be Bevan Buckland LLP Accountants.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The church is a registered charity governed by its constitution. It is an unincorporated association with managing trustees drawn from the membership. The managing trustees are appointed for specific terms of office by a meeting of the membership. The church constitution is based in the BUGB Approved Governing Document. It was adopted by the church on 26 March 2009 and updated in May 2021

Governance

Day-to-day running of the church is managed by the management trustees, known as the Joint Leadership Team, with material decisions referred to the church membership for its consideration and decision. Examples of decisions referred to the church members include changes in ministerial arrangements, building developments, annual budget process and changes to constitution or policy. The church members meeting and the wider congregation is also regularly reminded of its obligation in relation to Safeguarding Children and Vulnerable Adults

REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number

1130510

Principal address

Albany Road Cardiff CF24 3NU

Trustees

Rev. Richard Hardy Jeremy Ray Treasurer Cynthia Lang Church Secretary Elizabeth Davies Kathryn Hubback Sue Irwin Moses Katta Resigned during 2023 Kwame Pepra Rebecca Williams

Page 3

ALBANY ROAD BAPTIST CHURCH REPORT OFTHE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023 REFERENCE AND ADMINISTRATIVE DEr￿Ls Indepèndenl Examiner Bevan Buckland LLP Ground Floor Cardigan House Castle Court Swansea Enterprise Park Swansea SA7 9LA Approved by order ol thts board ol trustees on nd signed on its beh￿1 by.. Rev R M Hardy- ruste

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF ALBANY ROAD BAPTIST CHURCH

Independent examiner's report to the trustees of Albany Road Baptist Church

I report to the charity trustees on my examination of the accounts of Albany Road Baptist Church (the Trust) for the year ended 31 December 2023.

Responsibilities and basis of report

As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').

I report in respect of my examination of the Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act.

Independent examiner's statement

Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a member of the Association of Chartered Certified Accountants, which is one of the listed bodies.

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

  1. accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or 2. the accounts do not accord with those records; or

  2. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination.

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Michael Jones The Association of Chartered Certified Accountants

Bevan Buckland LLP Ground Floor Cardigan House Castle Court Swansea Enterprise Park Swansea SA7 9LA 14/10/2024 Date: .............................................

Page 5

ALBANY ROAD BAPTIST CHURCH

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2023

Unrestricted
funds
Notes
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
2
125,585
Charitable activities
4
Church
-
Investment income
3
15,090
Other income
14,136
Total
154,811
EXPENDITURE ON
Charitable activities
5
Church
153,440
NET INCOME
1,371
RECONCILIATION OF FUNDS
Total funds brought forward
184,651
TOTAL FUNDS CARRIED FORWARD
186,022		 Restricted
funds
£
12,797
126,211
-
400,000
539,008
272,701
266,307
134,685
400,992		 2023
Total
funds
£
138,382
126,211
15,090
414,136
693,819
426,141
267,678
319,336
587,014		 2022
Total
funds
£
106,518
126,500
19,059
2,368
254,445
149,159
105,286
214,050
319,336

The notes form part of these financial statements

Page 6

ALBANY ROAD BAPTIST CHURCH BALANCE SHE 31 DECEMBER 2WJ 2023 Total funds 2022 Total funds ResthLXed lunds lunds Notes FIXED ASSETS Tangible assets 10 41,000 CURRENT ASSETS Dabtors Cash at bank 425 149,097 425 550,089 277,854 149.522 4CKI,992 550,514 278,336 CREDITORS Amounts lalling due ￿￿thIn ong ￿ar 12 I3,￿￿)) I3.9C￿l NET CURREKf ASSErs 145.V22 400,992 546,614 278.336 TOTAL ASSEfs LESS CURRENT UA81unES 186,022 400.992 587,014 319,336 NEf ASSETS 186,022 400.992 587,014 319.336 FUNDS Unrestrictad lunds Restricted funds 13 186,022 400,992 184.651 134.685 TOTAL FUNDS 587,014 319,336 The Ilnanclal statements wwe approved by the 8oaryJ of Twst8es a(thorised lor issue .. and wer8 signed on ts b&haW by: on R M Hardy- Trus The notes fomi part of these ffinarrial statements

ALBANY ROAD BAPTIST CHURCH

CASH FLOW STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2023

2023 2022
Notes £ £
Cash flows from operating activities
Cash generated from operations 1 272,235 105,396
Net cash provided by operating activities 272,235 105,396
Cash flows from investing activities
Purchase of tangible fixed assets - (6,000)
Net cash provided by/(used in) investing activities - (6,000)
Change in cash and cash equivalents in
the reporting period 272,235 99,396
Cash and cash equivalents at the
beginning of the reporting period 277,854 178,458
Cash and cash equivalents at the end of
the reporting period 550,089 277,854

The notes form part of these financial statements

Page 8

ALBANY ROAD BAPTIST CHURCH

NOTES TO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2023

1.
RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES
2023
£
Net income for the reporting period (as per the Statement of Financial
Activities)
267,678
Adjustments for:
Depreciation charges
600
Decrease in debtors
57
Increase in creditors
3,900
Net cash provided by operations
272,235		 2022
£
105,286
-
110
-
105,396
2. ANALYSIS OF CHANGES IN NET FUNDS
At 1.1.23 Cash flow At 31.12.23
£ £ £
Net cash
Cash at bank 277,854 272,235 550,089
277,854 272,235 550,089
Total 277,854 272,235 550,089

The notes form part of these financial statements

Page 9

ALBANY ROAD BAPTIST CHURCH

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.

The accounts for the charity have previously been prepared using the receipts and payments basis. As part of the preparation of the accounts for the current year the comparative information has been prepared in accordance with FRS 102.

Income

Income from government and other grants, whether 'capital' grants or 'revenue' grants is recognised when the charity has entitlement to the funds, any performance conditions attached to the item(s) of income have been met, it is probable that the income will be received and the amount can be measured reliably.

Donations, are recognised when the charity has been notified in writing of both the amount and settlement date. In the event that a donation is subject to conditions that require a level of performance before the charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the charity and it is probable that those conditions will be fulfilled in the reporting period.

Legacy gifts are recognised on a case by case basis following the granting of probate when the administrator/executor for the estate has communicated in writing both the amount and settlement date. In the event that the gift is in the form of an asset other than cash or a financial asset traded on a recognised stock exchange, recognition is subject to the value of the gift being reliably measurable with a degree of reasonable accuracy and the title to the asset having been transferred to the charity.

Rental income is recognised at the point the rental takes place.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

The cost of generating funds comprises those costs associated with attracting grant income. Charitable expenditure comprises those costs incurred by the Charity in the delivery of its activities, both costs directly attributable and indirect support costs. Governance costs include those costs associated with meeting constitutional and statutory requirements of the Charity.

The Charity initially identifies the costs of its support functions. Support costs include back office costs, finance, personnel, payroll and governance costs which support the charities programmes and activities.

All costs allocated between expenditure categories are on a basis designed to reflect their resource usage. For some costs this means direct allocation to activities, other costs are apportioned, e.g. by staff time spent on the activity, or another equitable usage measure.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

The church organ is not expected to decrease in value therefore no depreciation is charged.

Taxation

The charity is exempt from tax on its charitable activities.

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ALBANY ROAD BAPTIST CHURCH

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023

1. ACCOUNTING POLICIES - continued

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

Financial instruments

The charity has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the charity transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity's contractual obligations expire or are discharged or cancelled.

Debtors

Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

Cash at bank and in hand

Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

Creditors and provisions

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

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ALBANY ROAD BAPTIST CHURCH

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023

2. DONATIONS AND LEGACIES

2.
DONATIONS AND LEGACIES
Weekly offerings
Donations
Gift aid
3.
INVESTMENT INCOME
Rents received
4.
INCOME FROM CHARITABLE ACTIVITIES
Activity
Grants
Church
Grants received, included in the above, are as follows:
Welsh Government
Warm Space grant
5.
CHARITABLE ACTIVITIES COSTS
Church
6.
SUPPORT COSTS
Church		 2023
£
65,409
54,730
18,243
138,382
2023
£
15,090
2023
£
126,211
2023
£
125,000
1,211
126,211
Support
Direct
costs (see
Costs
note 6)
£
£
420,954
5,187
Governance
Finance
costs
£
£
364
4,823		 2022
£
70,892
18,460
17,166
106,518
2022
£
19,059
2022
£
126,500		 2022
£
19,059
2022
£
125,000
1,500
126,500
Totals
£
426,141
Totals
£
5,187
  1. TRUSTEES' REMUNERATION AND BENEFITS

During the year ended 31 December 2023, Richard Hardy was paid a salary of £32,947 (2022: £30,187) for his services as minister of the church and £8,762 (2022: £8,859) for manse allowance. These transactions are allowed as per the charity's constitution.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 December 2023 nor for the year ended 31 December 2022.

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ALBANY ROAD BAPTIST CHURCH

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023

8. STAFF COSTS

STAFF COSTS
Wages and salaries 2023
£
65,249
65,249		 2022
£
61,899
61,899

The above amounts are inclusive of employer's national insurance and pension contributions.

The average monthly number of employees during the year was as follows:

Total employees
No employees received emoluments in excess of £60,000.
9.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted
funds
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
94,194
Charitable activities
Church
1,500
Investment income
19,059
Other income
2,368
Total
117,121
EXPENDITURE ON
Charitable activities
Church
133,953
NET INCOME/(EXPENDITURE)
(16,832)
Transfers between funds
(1,930)
Net movement in funds
(18,762)
RECONCILIATION OF FUNDS
Total funds brought forward
203,413
TOTAL FUNDS CARRIED FORWARD
184,651
10.
TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£
COST
At 1 January 2023 and 31 December 2023
6,000
DEPRECIATION
Charge for year
600
NET BOOK VALUE
At 31 December 2023
5,400
At 31 December 2022
6,000		 2023
2
Restricted
funds
£
12,324
125,000
-
-
137,324
15,206
122,118
1,930
124,048
10,637
134,685
Church
organ
£
35,000
-
35,000
35,000		 2022
2
Total
funds
£
106,518
126,500
19,059
2,368
254,445
149,159
105,286
-
105,286
214,050
319,336
Totals
£
41,000
600
40,400
41,000

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ALBANY ROAD BAPTIST CHURCH

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023

  1. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade debtors
12.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Other creditors
13.
MOVEMENT IN FUNDS
Unrestricted funds
General fund
Legacy fund
Manse fund
Contingency reserve
Restricted funds
Special appeals
Hope in Mental Health
Be Hapus Café
Pew Appeal
Hardship fund
Redevelopment fund
Misc Reserve
TOTAL FUNDS
Net movement in funds, included in the above are as follows:
Unrestricted funds
General fund
Legacy fund
Manse fund
Restricted funds
Special appeals
Hope in Mental Health
Be Hapus Café
Pew Appeal
Hardship fund
Redevelopment fund
Misc Reserve
Warm Spaces
TOTAL FUNDS		 At 1.1.23
£
47,837
-
106,814
30,000
184,651
225
1,671
2,711
5,410
2,900
121,093
675
134,685
319,336
Incoming
resources
£
114,695
40,116
-
154,811
1,610
3,690
140
6,077
350
525,000
930
1,211
539,008
693,819		 2023
2022
£
£
425
482
2023
2022
£
£
3,900
-
Net
movement
At
in funds
31.12.23
£
£
(3,666)
44,171
40,116
40,116
(35,079)
71,735
-
30,000
1,371
186,022
252
477
699
2,370
(281)
2,430
(2,792)
2,618
(1,539)
1,361
269,038
390,131
930
1,605
266,307
400,992
267,678
587,014
Resources
Movement
expended
in funds
£
£
(118,361)
(3,666)
-
40,116
(35,079)
(35,079)
(153,440)
1,371
(1,358)
252
(2,991)
699
(421)
(281)
(8,869)
(2,792)
(1,889)
(1,539)
(255,962)
269,038
-
930
(1,211)
-
(272,701)
266,307
(426,141)
267,678

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ALBANY ROAD BAPTIST CHURCH

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023

13. MOVEMENT IN FUNDS - continued

Comparatives for movement in funds

Unrestricted funds
General fund
Manse fund
Contingency reserve
Restricted funds
Chomp
Welsh food
Special appeals
Hope in Mental Health
Be Hapus Café
Pew Appeal
Hardship fund
Redevelopment fund
Misc Reserve
TOTAL FUNDS		 At 1.1.22
£
40,082
131,956
31,375
203,413
2,008
4,007
920
3,702
-
-
-
-
-
10,637
214,050		 Net
movement
in funds
£
10,147
(26,979)
-
(16,832)
-
-
(711)
(2,031)
(1,296)
4,810
926
120,870
(450)
122,118
105,286		 Transfers
between
funds
£
(2,392)
1,837
(1,375)
(1,930)
(2,008)
(4,007)
16
-
4,007
600
1,974
223
1,125
1,930
-		 At
31.12.22
£
47,837
106,814
30,000
184,651
-
-
225
1,671
2,711
5,410
2,900
121,093
675
134,685
319,336

Comparative net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
Manse fund
Restricted funds
Special appeals
Hope in Mental Health
Be Hapus Café
Pew Appeal
Hardship fund
Redevelopment fund
Misc Reserve
TOTAL FUNDS		 Incoming
resources
£
117,121
-
117,121
3,654
130
-
6,050
2,490
125,000
-
137,324
254,445		 Resources
Movement
expended
in funds
£
£
(106,974)
10,147
(26,979)
(26,979)
(133,953)
(16,832)
(4,365)
(711)
(2,161)
(2,031)
(1,296)
(1,296)
(1,240)
4,810
(1,564)
926
(4,130)
120,870
(450)
(450)
(15,206)
122,118
(149,159)
105,286		 Resources
Movement
expended
in funds
£
£
(106,974)
10,147
(26,979)
(26,979)
(133,953)
(16,832)
(4,365)
(711)
(2,161)
(2,031)
(1,296)
(1,296)
(1,240)
4,810
(1,564)
926
(4,130)
120,870
(450)
(450)
(15,206)
122,118
(149,159)
105,286
(16,832)
(711)
(2,031)
(1,296)
4,810
926
120,870
(450)
122,118
105,286

Page 15

continued...

ALBANY ROAD BAPTIST CHURCH

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023

13. MOVEMENT IN FUNDS - continued

A current year 12 months and prior year 12 months combined position is as follows:

Unrestricted funds
General fund
Legacy fund
Manse fund
Contingency reserve
Restricted funds
Chomp
Welsh food
Special appeals
Hope in Mental Health
Be Hapus Café
Pew Appeal
Hardship fund
Redevelopment fund
Misc Reserve
TOTAL FUNDS		 At 1.1.22
£
40,082
-
131,956
31,375
203,413
2,008
4,007
920
3,702
-
-
-
-
-
10,637
214,050		 Net
movement
in funds
£
6,481
40,116
(62,058)
-
(15,461)
-
-
(459)
(1,332)
(1,577)
2,018
(613)
389,908
480
388,425
372,964		 Transfers
between
funds
£
(2,392)
-
1,837
(1,375)
(1,930)
(2,008)
(4,007)
16
-
4,007
600
1,974
223
1,125
1,930
-		 At
31.12.23
£
44,171
40,116
71,735
30,000
186,022
-
-
477
2,370
2,430
2,618
1,361
390,131
1,605
400,992
587,014

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
Legacy fund
Manse fund
Restricted funds
Special appeals
Hope in Mental Health
Be Hapus Café
Pew Appeal
Hardship fund
Redevelopment fund
Misc Reserve
Warm Spaces
TOTAL FUNDS		 Incoming
resources
£
231,816
40,116
-
271,932
5,264
3,820
140
12,127
2,840
650,000
930
1,211
676,332
948,264		 Resources
Movement
expended
in funds
£
£
(225,335)
6,481
-
40,116
(62,058)
(62,058)
(287,393)
(15,461)
(5,723)
(459)
(5,152)
(1,332)
(1,717)
(1,577)
(10,109)
2,018
(3,453)
(613)
(260,092)
389,908
(450)
480
(1,211)
-
(287,907)
388,425
(575,300)
372,964		 Resources
Movement
expended
in funds
£
£
(225,335)
6,481
-
40,116
(62,058)
(62,058)
(287,393)
(15,461)
(5,723)
(459)
(5,152)
(1,332)
(1,717)
(1,577)
(10,109)
2,018
(3,453)
(613)
(260,092)
389,908
(450)
480
(1,211)
-
(287,907)
388,425
(575,300)
372,964
(15,461)
(459)
(1,332)
(1,577)
2,018
(613)
389,908
480
-
388,425
372,964

Page 16

continued...

ALBANY ROAD BAPTIST CHURCH

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023

13. MOVEMENT IN FUNDS - continued

Unrestricted funds

Legacy fund - These are funds received from Bequests in 2023

Manse fund - This is a historic name for funds received from the sale of a manse (circa 2012/2013) retained in Trust Account with BUC but we can utilise for larger repairs/building works

Contingency reserve - historic figure that the Leadership will only recommend using if no other funds available (held in the CCLA A ccount)

Restricted funds

Special appeals - Generally funds received for specific appeals during the year usually external Charitable Causes

Hope in Mental Health - a small project that we run for the Mental Health Crisis Unit at Llandough Hospital to provide toiletries et c for those in crisis.

Be Hapus Café - a "drop in" Coffee morning that we fund at the Church

Pew Appeal - this is the residue of an appeal that we ran in 2022/23 to remove the Church Pews and replace with Chairs.

Hardship fund - providing small funding to families in need primarily to purchase groceries and essentials or to meet other needs agreed by the Leadership Team. Usually we provide vouchers (Tesco/Iceland/Aldi etc) rather than physical cash.

Redevelopment fund - any income/expense relating to our Redevelopment Project.

Misc Reserve - no specific purpose

Warm Spaces - this was set up to manage a Warm Space Grant that we received from Asda to literally open our building fo r those who needed a place to keep warm/have a hot drink in the colder months.

14. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 December 2023.

15. CHANGE IN BASIS OF PREPARATION

In previous years the accounts were prepared under the receipts and payments basis. The charity can no longer prepare accounts using this basis because it has exceeded the £250,000 income threshold. The charity has therefore adopted the accruals basis and FRS 102 accounting standard to prepare its financial statements.

Page 17

ALBANY ROAD BAPTIST CHURCH

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2023

DETAILED STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 DECEMBER 2023
INCOME AND ENDOWMENTS
Donations and legacies
Weekly offerings
Donations
Gift aid
Investment income
Rents received
Charitable activities
Grants
Other income
Bank interest
Gain on sale of property
Total incoming resources
EXPENDITURE
Charitable activities
Wages
Rates and water
Insurance
Light and heat
Telephone
Postage and stationery
Advertising
Sundries
Subscriptions
Computer costs
Repairs and maintenance
Mission
Special appeals expenditure
Youth projects
Special appeals
Cleaning and waste disposal
Other project expenditure
Depn of fixtures & fittings
Support costs
Finance
Bank charges
Governance costs
Accountancy and legal fees
Total resources expended
Net income		 2023
£
65,409
54,730
18,243
138,382
15,090
126,211
14,136
400,000
414,136
693,819
65,249
288
2,837
5,959
822
3,606
296
16,481
2,418
6,829
291,938
14,610
149
918
4,052
3,778
124
600
420,954
364
4,823
426,141
267,678		 2022
£
70,892
18,460
17,166
106,518
19,059
126,500
2,368
-
2,368
254,445
61,899
255
4,517
7,668
822
3,811
151
5,871
2,225
1,935
33,487
12,842
165
495
5,929
4,956
-
-
147,028
391
1,740
149,159
105,286

This page does not form part of the statutory financial statements

Page 18