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← Loughborough Baptist Church

2024-12-31-accounts

LOUGHBOROUGH BAPTIST CHURCH

FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 DECEMBER 2024

REGISTERED CHARITY NUMBER: 1131055

Cound & Co LLP Chartered Accountants

1 Princes Court Royal Way Loughborough Leics LE11 5XR Tel: 01509 214163

LOUGHBOROUGH BAPTIST CHURCH

CONTENTS


Report of the Trustees
Independent Examiner’s Report
Statement of Financial Activities
Balance Sheet
Notes to the Accounts		 Page No

1 – 3
4
5
6
7 – 15

- 1 -

LOUGHBOROUGH BAPTIST CHURCH

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024

The Trustees present their report together with the financial statement for the year ended 31 December 2024. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the Church’s governing documents, the Charities Act 2011 and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland published on 16 July 2014.

OBJECTIVES OF THE CHARITY

The principal purpose of the Church is 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 activities in the United Kingdom and other parts of the world.

PUBLIC BENEFIT

The Trustees have referred to the Charity Commission’s general guidance on public benefit when reviewing the Church’s aims and objectives and in planning its future activities. In particular, the Trustees considered how planned activities will contribute to the aims and objectives they have set.

ACTIVITIES, ACHIEVEMENTS AND PERFORMANCE

The activities of the Church have included:

Rev Dr Michael Peat has now been with us for two years. He has led most of our services and has changed some styles of worship. He has started an early Monday morning meditation group. He continues to chair our Deacons/Trustees Meetings and the Church Meeting.

We have been seeking to find a Children’s and Family Worker over the past two years, to that end we invited Sarah Fegredo to talk to the church about it in September. This highlighted a good many things for the Church to think about. One of our membership came forward to say she would help with Little Stars. During talks with one or two of the leadership team it was apparent that she was excited about the position of Children and Family Worker. We advertised the position locally, there was only one applicant, and we interviewed in late November. We were pleased to offer her the position, and she will start at the beginning of January 2025.

We have continued with our Warm Hub on Monday but started to do a lunch for them as we understood The Falcon Centre were finishing providing this for them. We also run ‘After Dark’ on a Wednesday providing hot food in the evening.

- 2 -

LOUGHBOROUGH BAPTIST CHURCH

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024

ACTIVITIES, ACHIEVEMENTS AND PERFORMANCE (continued)

The work among Children and Young people continues. We have held Activity Day in the Summer holidays, Easter and at Christmas, which were well attended by a wide range of ages. We feel this is a project we must carry on with.

Bible Study continues to be an important part of the church activities. There are several groups meeting regularly, each meeting the needs of a wide variety of members within the church fellowship. A zoom prayer meeting is held every Monday evening and Thursday mornings prayers are said for the town and the church.

We seek to give pastoral care to all those connected with the church in any way through our pastoral worker and the pastoral team. We provide a Cameo Meal about every six weeks on a Sunday for our membership who live on their own. We now have 30 people attending.

PROPERTY

7-8 Baxter Gate. Mr Sharma and Mr Singh are our new tenants. Work has not started on the shop yet, but we are receiving rent. We have been quite concerned that the shop still has not opened but we have spoken to our agent Mather Jamie about this situation.

As we reported last year, we had to pay £30,000 so the utilities were not turned off. We have tried to get the monies back. To this end we put the matter into the hands of Solicitor: ‘Bird Wilford and Sale’ to try on our behalf. If this fails we will put the matter in the hands of the Ombudsman.

The new gas boilers were fitted and finished in February and the loans that our membership gave us for this project were paid back to them all in April 24. This year we have decorated the Meeting Room; it has had a new floor and new lighting fitted.

FINANCIAL REVIEW & RESERVES POLICY

We have withdrawn from our reserves £100,000 from our 1 year fixed account to pay the loans back leaving a balance of £72,530.70. Our 7 day fixed account totals £68,772.25 of which £30,000 is set aside for ministry.

When the budget for 2025 was prepared we put £30,000 into the budget towards ministry so we will have £38,377.25 remaining for the coming year 2026.

STRUCTURE, GOVERNANCE AND MANAGEMENT

It should be noted that our constitution dated 20[th] March 2008 is being reviewed during 2024. This has been worked on during this past year but during the latter part of the year it has been brought to light that we might want to consider becoming a CIO, a Charitable Incorporated Organisation. This will be looked at more fully in 2025.

-3 -

LOUGHBOROUGH BAPTIST CHURCH

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024

REFERENCE AND ADMINISTRATIVE DETAILS

Charity Number: 1131055 Church Address: 9 – 10 Baxter Gate, Loughborough, Leicestershire, LE11 1TG Bankers Lloyds TSB plc, 37-38 High Street, Loughborough, Leicestershire, LE11 2QG Baptist Union Corporation Ltd, 129 Broadway, Didcot, OX11 8RT

Solicitors: Bird Wilford and Sale, 20 Church Gate, Loughborough, LE11 1UD Accountants: Cound & Co LLP, 1 Princes Court, Royal Way, Loughborough, Leicestershire, LE11 5XR

Trustees:

The Trustees during the year were:

Mrs S Bowler Mrs R Green Mrs E Grimley Mrs M Thirlwell Mrs G Butcher Mr K Lewis Appointed February 2024 Mr R O'Conner Appointed April 2024

Approved by the Trustees on 6 April 2025 and signed on their behalf by: -

…………………………..

Mrs Margaret Thirlwell Church Secretary

- 4 -

INDEPENDENT EXAMINER’S REPORT

TO THE TRUSTEES OF LOUGHBOROUGH BAPTIST CHURCH

I report on the accounts of the Charity for the year ended 31 December 2024 which are set out on pages 5 to 15.

Respective Responsibilities of Trustees and Examiner

The charity’s trustees are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the Charities Act) and that an independent examination is needed.

It is my responsibility to:

Basis of independent examiner’s statement

My examination was carried out in accordance with the General Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as Trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a “true and fair view” and the report is limited to those matters set out in the statement below.

Independent examiner’s statement

In connection with my examination, no matter has come to my attention:

  1. which gives me reasonable cause to believe that, in any material respect, the requirements:

  2. to keep proper accounting records in accordance with section 130 of the Charities Act; and

  3. to prepare accounts which accord with the accounting records and comply with the accounting requirements of the Charities Act have not been met; or

  4. to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.

D R Gradon MA FCA Cound & Co LLP Chartered Accountants 1 Princes Court Royal Way Loughborough Leics LE11 5XR 6 April 2025

- 5 -

LOUGHBOROUGH BAPTIST CHURCH

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2024

INCOME AND ENDOWMENTS FROM:
Donations and legacies
Investments
Charitable activities
TOTAL INCOME
EXPENDITURE ON:
Raising funds
Charitable activities
TOTAL EXPENDITURE
NET EXPENDITURE AND NET MOVEMENT
IN FUNDS BEFORE GAINS AND LOSSES
ON INVESTMENTS/FIXED ASSETS
Gain on revaluation of investment properties
Transfer between Funds
NET MOVEMENT IN FUNDS
RECONCILIATION OF FUNDS:
TOTAL FUNDS BROUGHT FORWARD
TOTAL FUNDS CARRIED FORWARD		 Notes
2
3
4
5
6
16
16		 2024
Unrestricted
104101
96018
12617
__
212736
_
33574
296588

330162

(117426)
_
-
_
(117426)
1392008
_
£1274582
____		 2024
2024
2023
Restricted
Total
Total
-
104101
125823
-
96018
74627
-
12617
12057
_
_

-
212736
212507

__
_
-
33574
25756
20587
317175
166168

__
_
20587
350749
191924

__
_
(20587)
(138013)
20583

_
_
-
-
-
_
_
_
(20587)
(138013)
20583
25338
1417346
1396763

_
_
£4751
£1279333
£1417346
__
_
_

- 6 -

LOUGHBOROUGH BAPTIST CHURCH

BALANCE SHEET AS AT 31 DECEMBER 2024


FIXED ASSETS
Tangible Assets
Investments
CURRENT ASSETS
Debtors
Cash at Bank
CREDITORS – Amounts falling due within one year
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT LIABILITIES
NET ASSETS
CHARITABLE FUNDS
Unrestricted
Designated
Restricted		 Notes
11 (a)
11 (b)
12
13
14
16
16
16		 2024
302844
828500
_
1131344
19248
154538
__
173786
_
25797
__
147989
_
1279333
_
£1279333
_
1274582
-
4751
_
£1279333
_		 2023
309528
828500
_
1138028
20237
416451
__
436688
_
157370
__
279318
_
1417346
_
£1417346
_
1392008
-
25338
_
£1417346
_

Approved by the Trustees on 6 April 2025 and signed on their behalf by:

………………………………..

Mrs M Thirlwell (Church Secretary and Trustee)

The notes on pages 7 to 15 form part of these accounts

- 7 -

LOUGHBOROUGH BAPTIST CHURCH

NOTES TO THE ACCOUNTS – FOR THE YEAR ENDED 31 DECEMBER 2024

1 ACCOUNTING POLICIES

a) Basis of Preparation

These financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) issued on 16 July 2014 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS102) and the Charities Act 2011under the historical cost convention, with the exception that investments are included at market value. The accounts have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities (SORP 2005) and applicable UK Accounting Standards and the Charities Act 2011.

The Church constitutes a public benefit entity as defined by FRS102.

The financial statements are prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements are prepared in sterling which is the functional currency of the charity and rounded to the nearest pound.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

b) Funds

Unrestricted funds are funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Church.

Designated funds are funds which the Trustees have designated to be used for a particular purpose, rather than in furtherance of the general objectives of the Church.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by the funding provider.

c) Income recognition

All incoming resources are included in the Statement of Financial Activities (SOFA) when the Church is legally entitled to the income after any performance conditions have been met, the amount can be measured reliably and it is probable that the income will be received.

No amount is included in the financial statements for volunteer time in line with SORP (FRS102).

For donations to be recognised the charity will have been notified of the amounts and the settlement dates.

For legacies, entitlement is the earlier of the charity being notified of an impending distribution or the legacy being received. At this point income is recognised.

Investment income is earned through holding assets for investment purposes such as property and shares. Interest is recognised when entitled and rent income is recognised as the Church’s right to receive payment is established.

- 8 -

LOUGHBOROUGH BAPTIST CHURCH

NOTES TO THE ACCOUNTS – FOR THE YEAR ENDED 31 DECEMBER 2024

1 ACCOUNTING POLICIES (continued)

d) Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the Church to that expenditure, it is probable that settlement will be required and the amount of the obligation can be measured reliably.

All expenditure is accounted for on an accruals basis.

Grants payable are made by the Church to other organisations whose charitable objects complement their work. This is accrued once the recipient has been notified of the grant award.

e) Governance Costs

This represents direct expenditure on the governance of the Church. Most of the management is carried out without charge by volunteers. This intangible cost is not included in the Statement of Financial Activities since there is no measurable cost to the Church for their service.

f) Fixed Assets

The Church buildings and the Manse are included in the balance sheet at original cost or fair value at 31 December 2018 which becomes the “deemed cost” under the FRS 102 transition rules.

g) Depreciation

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses.

Depreciation is provided on all tangible fixed assets at a rate calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows:

Freehold buildings: 2% on “deemed” cost on a straight line basis

h) Investment Assets

Investment properties for which fair values can be measured reliably without undue cost or effort are measured at fair value at each reporting date with changes in fair value being recognised in net gains (losses) in investments in the SOFA.

i) Pension Costs

The Church pays contributions for its ministers to the Baptist Ministers Pension Trust Limited. This is a final salary multi-employer defined benefits scheme, the assets of which are held separately from the Church. The Church is unable to identify its share of the underlying assets and liabilities of the scheme on a consistent and reliable basis and therefore, as required by Financial Reporting Standard 17 ‘Retirement benefits’, accounts for the scheme as if it were a defined contribution scheme. As a result, the amount charged to the Statement of Financial Activities represents the contributions payable to the scheme in respect of the accounting period.

- 9 -

LOUGHBOROUGH BAPTIST CHURCH

NOTES TO THE ACCOUNTS – FOR THE YEAR ENDED 31 DECEMBER 2024

2 VOLUNTARY INCOME

Offerings
Gift Aid tax refunds
Donations
Legacies		 2024
Unrestricted
63212
15251
10638
15000
__
£104101
____		 2024
2024
2023
Restricted
Total
Total
-
63212
61099
-
15251
18304
-
10638
29420
-
15000
17000
_
_

£-
£104101
£125823
__
__
____

3 INVESTMENT INCOME

Interest received
Rent received
INCOME FROM CHARITABLE ACTIVITIES
Trading income
RAISING FUNDS
Investment property expenses		 2024
Unrestricted
8419
87599
_
£96018

2024
Unrestricted
12617
__
£12617
_
2024
Unrestricted
£33574
___		 2024
Restricted
-
-
_
£-

2024
Restricted
-
__
£-
_
2024
Restricted
-
___		 2024
Total
8419
87599
__
£96018
_
2024
Total
12617
__
£12617
_
2024
Total
£33574
___		 2023
Total
3287
71340
__
£74627
_
2023
Total
12057
__
£12057
_
2023
Total
£25756
___

4 INCOME FROM CHARITABLE ACTIVITIES

5 RAISING FUNDS

- 10 -

LOUGHBOROUGH BAPTIST CHURCH

NOTES TO THE ACCOUNTS – FOR THE YEAR ENDED 31 DECEMBER 2024

6 COST OF CHARITABLE ACTIVITIES

Ministry costs
Mission costs (see note 7)
Establishment costs
Depreciation
Admin Support Costs (see note 8)
Professional Fees
Cound & Co LLP
- Independent Examination Fee
- Accounting and payroll support		 2024
Unrestricted
95930
9391
54783
6684
125725
255
1550
2270
__
£296588
____		 2024
2024
2023
Restricted
Total
Total
-
95930
87280
587
9978
8664
-
54783
48874
-
6684
6684
20000
145725
8249
-
255
3124
-
1550
1550
-
2270
1743
_
_

£20587
£317175
£166168
__
__
____

7 MISSION COSTS

Grants paid to: -
BUGB Home Mission
BMS World Mission
Other
ADMIN SUPPORT COSTS
Staff Training
Computer Software
Office Consumables
Postage
Heating Upgrade		 2024
Unrestricted
3000
3000
3391
__
£9391
_
2024
Unrestricted
60
344
7570
30
112721
__
£125725
_____		 2024
2024
Restricted
Total
-
3000
-
3000
587
3978
_
_
£587
£9978

__
2024
2024
Restricted
Total
-
60
-
344
-
7570
-
30
20000
137721


£20000
£145725
_
___
2023
Total
3000
3000
1871
_
£7871
___
2023
Total
280
904
7015
50
-
_
£8249
___

8 ADMIN SUPPORT COSTS

- 11 -

LOUGHBOROUGH BAPTIST CHURCH

NOTES TO THE ACCOUNTS – FOR THE YEAR ENDED 31 DECEMBER 2024

9 STAFF COSTS, KEY MANAGEMENT PERSONNEL AND TRUSTEE EXPENSES

Salaries
Pension Costs		 2024
77886
4206
__
£82092
____		 2023
69053
3706
__
£72759
____

The average number of employees during the year was 6 (2023: 6).

No employee received emoluments in excess of £60000 during the year (2023: none).

The highest paid employee received a salary of £34320.

All Trustees give freely of their time and expertise without any form of remuneration or other benefit in cash or kind (2023: all).

No Trustees received reimbursement for expenses paid for on behalf of the Church (2023: None).

The total unrestricted donations made by the Trustees in the year was £7,680.

10 PENSION COSTS

The Church is an employer participating in a pension scheme known as the Baptist Pension Scheme (“the Scheme”). The Scheme is a separate legal entity which is administered by the Pension Trustee (Baptist Pension Trust Limited).

From January 2012, pension provision is being made through the Defined Contribution (DC) Plan within the Scheme. In general Members pay 8% of their Pensionable Income and employers pay 6% of members’ Pensionable Income into individual pension accounts which are operated and managed on behalf of the Pension Trustee by Legal and General Life Assurance Society Limited. In addition, the employer pays a further 4% of Pensionable Income to cover Death in Service Benefits, administration costs and an associated insurance policy which provides income protection for Scheme members in the event that they are unable to work due to long-term incapacity. The income protection policy has been insured by the Baptist Union of Great Britain with Unum Limited. Members of the Basic Section pay reduced contributions of 5% of Pensionable Income, and their employers also pay a total of 5%.

Benefits in respect of service prior to 1 January 2012 are provided through the Defined Benefit (DB) Plan within the Scheme. The main benefits for pre 2012 service were a defined benefit pension of one eightieth of Final Minimum Pensionable Income for each year of Pensionable Service, together with additional pension in respect of premiums paid on Pensionable Income in excess of Minimum Pensionable Income. The Scheme, previously known as the Baptist Ministers’ Pension Fund, started in 1925, but was closed to future accrual of defined benefits on 31 December 2011.

A formal valuation of the Ministers’ Fund was performed at 31 December 2013 by a professionally qualified Actuary using the Projected Unit Method. The market value of the DB Plan assets at the valuation date was £162 million.

The valuation of the DB Plan revealed a deficit of assets compared with the value of liabilities of £84 million (equivalent to a past service funding level of 66%). As a result of the valuation, in addition to the contributions to the DC Plan set out above, it has been agreed to increase the standard rate of deficiency contributions from Churches and other employers involved in the DB Plan from 11% of Pensionable Income/Minimum Pensionable income to 12% from 1 January 2017. The contributions will be based on each Church’s or other employer’s position at March 2017. Some Churches and other employers that were only involved in the DB Plan for a short period will pay less than 12%. As at 31 December 2018 the estimated deficit on a technical provision basis has reduced to around £50m. The Recovery Plan envisages deficiency contributions continuing until December 2028.

- 12 -

LOUGHBOROUGH BAPTIST CHURCH

NOTES TO THE ACCOUNTS – FOR THE YEAR ENDED 31 DECEMBER 2024

10 PENSION COSTS (continued)

The key financial assumptions underlying the valuations were as follows:

Type of assumption % pa
RPI price inflation assumption 3.60
CPI price inflation assumption 2.85
Minimum Pensionable Income Increases (CPI plus 1.0% pa) 3.85
Assumed investment returns
- Pre retirement 5.10
- Post retirement 3.95
Deferred pension increases
- Pre April 2009 3.60
- Post April 2009 2.50
Pension increases
- Main Scheme pension Pre April 2006 3.40
- Main Scheme pension Post April 2006 2.30

As there is a large number of contributing employers participating in the Scheme, the Church is unable to identify its share of the underlying assets and liabilities of the Scheme. Accordingly, due to the nature of the Scheme, the profit and loss charge for the period represents the employer contributions payable. The total pensions cost for the Church is £4206 (2023: £3706).

Under the current Recovery Plan signed in September 2020, deficiency contributions are payable until June 2026. These contributions are broadly based on the employer’s membership at 31 December 2014 and increase annually in line with increases to Minimum Pensionable Income as defined in the Rules.

At the end of June 2022, the Baptist Pension Scheme signed an agreement with the insurance company Just Group (‘Just’) to secure members’ pension benefits under the DB Plan. This agreement is referred to as a ‘buy-in policy’. It follows a similar agreement with Just in 2019 that covered most pensions in payment at that time. The combined agreements mean that Just are now providing financial backing for all DB pensions provided through the Scheme’s DB Plan.

The cost of such policies is largely driven by financial markets and these have moved substantially in the Scheme’s favour, particularly over the course of the last few months. As a result, this transaction takes the Scheme out of a shortfall position for the first time in two decades. Although risks remain, the Baptist Union and the Trustee of the Scheme have agreed that deficit contributions from each participating employer in the DB Plan will reduce to just £1 per month from August 2022.

- 13 -

LOUGHBOROUGH BAPTIST CHURCH

NOTES TO THE ACCOUNTS – FOR THE YEAR ENDED 31 DECEMBER 2024

11 FIXED ASSETS

(a)
(b)		 Tangible Assets
Cost
At 1 January 2024
Additions
As at 31 December 2024
Depreciation
At 1 January 2024
Charge for the year
As at 31 December 2024
Net Book Value at 31 December 2024
Net Book Value at 31 December 2023
Investments
Investment Properties
Market Value brought forward at 1 January 2024
Gain on revaluation
Transfer to Fixed Assets
Market Value as at 31 December 2024
Investment properties comprise:
11 Baxter Gate
7-8 Baxter Gate
27 Patterdale Drive		 Manse
240000
-
__
240000
_
9600
4800

14400

225600

230400
___		 Church
Premises
94200
-
__
94200
_
15072
1884

16956

77204

79128

2024
828500
-
-
_
£828500
_
380000
250000
198500
_
£828500
____		 Total
334200
-
__
334200
_
24672
6684
__
31356
__
£302844
_
£309528

2023
828500
-
-
_
£828500
____		 Total
334200
-
__
334200
____		 Total
24672
6684
_
31356
____
380000
250000
198500
_
£828500
_

The commercial properties at 11 and 7-8 Baxter Gate were valued by Mather Jamie, Chartered Surveyors in January 2016. The residential property at Patterdale Drive was valued by the Trustees, based on local property prices as at 31 December 2022.

Previously properties were valued on an insurance basis by the Baptist Union as at 27 April 2010.

- 14 -

LOUGHBOROUGH BAPTIST CHURCH

NOTES TO THE ACCOUNTS – FOR THE YEAR ENDED 31 DECEMBER 2024

12 DEBTORS

2024 2023
Gift Aid 1150 1305
Prepayments and other debtors 18098 18932
_____ _____
£19248
_____		 £20237
_____

13 BANK AND CASH BALANCES

2024 2023
Lloyds TSB plc 13285 153617
Baptist Trust 141253 262834
______ ______
£154538
______		 £416451
______

14 CREDITORS – AMOUNTS FALLING DUE WITHIN ONE YEAR

2024 2023
Trade Creditors 2567 15420
Accruals 3000 3000
PAYE and NIC 992 737
Collections held for other organisations 5275 4250
Rent Deposits 13963 13963
Loans for new boiler - 120000
_____ _____
£25797
_____		 £157370
_____

15 RELATED PARTIES

The custodian Trustee of the Church is the Baptist Union Corporation Limited which is charity number 249635, and which is controlled by the Baptist Union Council. The Church is also a member of the Baptist Union of Great Britain.

The Church made a donation to the Baptist Union Mission Scheme as set out in note 7.

- 15 -

LOUGHBOROUGH BAPTIST CHURCH

NOTES TO THE ACCOUNTS – FOR THE YEAR ENDED 31 DECEMBER 2024

16 ANALYSIS OF NET ASSETS BETWEEN FUNDS

(a)
(b)		 Unrestricted
Restricted
31 December 2024
Funds
Funds
Total
Fixed Assets: Tangible Assets
302844
-
302844
: Investments
828500
-
828500
Current Assets
169035
4751
173786
Creditors due within one year
(25797)
-
(25797)
_
_
_
£1274582
£4751
£1279333
_

_
Unrestricted
Restricted
31 December 2023
Funds
Funds
Total
Fixed Assets: Tangible Assets
309528
-
309528
: Investments
828500
-
828500
Current Assets
411350
25338
436688
Creditors due within one year
(157370)
-
(157370)
_
__
_
1392008
25338
1417346
_
__
_____

Restricted funds

As at
1 January
2024
Thornton and Hickling Fund
5338
Boiler Fund
20000
_
£25338
_		 Income
-
-
__
£-
____		 Expenditure
(587)
(20000)
__
£(20587)
____		 As at
31 December
Transfers
2024
-
4751
-
-
_
_
£-
£4751

____

17 MOVEMENT IN FUNDS

As at
1 January
2024
Income
Unrestricted Funds
1392008
212736
Restricted Funds
25338
-
_
__
£1417346
£212736
_
____		 Expenditure
(330162)
(20587)
__
£(350749)
____		 As at
31 December
Revaluation
2024
-
1274582
-
4751
_
_
£-
£1279333

____