Charity registration number: 1131643
## **NORTH CHEAM BAPTIST CHURCH**
# **ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023**
## **NORTH CHEAM BAPTIST CHURCH**
## **CONTENTS**
**----- Start of picture text -----**
||||
|---|---|---|
|Report of the Trustees|1 to 4|
|Independent|Examiner's Report|5|
|Statement of Financial Activities|6|
|Balance Sheet|7|
|Notes to the Financial|Statements|8 to 20|
**----- End of picture text -----**
## **NORTH CHEAM BAPTIST CHURCH**
## **REPORT OF THE TRUSTEES**
The trustees present their annual report together with the financial statements of the North Cheam Baptist Church ('the charity' or 'the church') for the year ended 31 August 2023. The trustees confirm that the annual report and financial statements of the charity comply with the current statutory requirements, the requirements of the charity's governing document and 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) ("SORP (FRS 102)").
## **OBJECTIVES AND ACTIVITIES**
## **Objects and aims**
The principal purpose of North Cheam Baptist Church is the advancement of the Christian faith according to the principles of the Baptist denomination.
The objectives of the Church are to run a local community church to worship Our Lord Jesus Christ and spread the Good News of the Gospel locally and around the world in accordance with the Church Constitution. The Church may also advance education and carry out other charitable purposes locally, throughout the United Kingdom and in other parts of the world.
## **Significant activities**
The Church's significant activities include:
- Regular public Church services on Sundays and other important dates in the Christian calendar
- Running regular Bible study and prayer and praise meetings
- Supporting the promulgation of the Christian message worldwide
- Being available to all members of the local community to provide support and Christian counselling
- Operating activities and clubs for children and young people open to all members of the local community
- Engaging with local schools
- Providing meetings for parents or carers and toddlers.
## **Public benefit**
In planning the activities of the Church, the trustees have considered the Charity Commission's guidance on public benefit and, in particular, the specific guidance on charities for the advancement of religion.
## **Social investments**
The Church is active in its local community in providing activities for children and young people, parents and toddlers which are open to all members of the local community on a non profit making basis that are in addition to the more formal church and related services and activities. In addition the Church engages with local schools and contributes financially to the support of a local school's Christian work and towards a local community project.
## **Grantmaking**
The Church seeks to fulfil its objective of spreading the Christian message throughout the United Kingdom and worldwide by making grants to individual missionaries supported by the Church and to specific independent missionary and charitable organisations whose aims coincide with those of the Church, including the Home Mission Fund of the Baptist Union and the Baptist Missionary Society.
Page 1
## **NORTH CHEAM BAPTIST CHURCH**
## **REPORT OF THE TRUSTEES**
## **Volunteers**
A significant proportion of the Church's activities are run by and with the assistance of volunteers who freely give of their time and skills to support the Church in the furtherance of its aims.
## **ACHIEVEMENT AND PERFORMANCE**
## **Charitable activities**
During the year the Church has delivered Sunday and holy days church services open to all as well as regularly meeting either corporately or in small groups for Bible study, prayer and praise.
In addition the Church has provided a full programme of activities using the Church premises which have been substantially run by volunteers particularly focussed on children and young people, parents and toddlers. These activities are extremely popular and provide an important service within the local community affording a safe and caring environment for individuals to meet with their local peers and enhance the life of the local community.
The Church is ever mindful of other communities throughout the world in less fortunate circumstances and has continued to support financially and prayerfully targeted areas and projects in a number of overseas locations.
## **Fundraising activities**
The Church's activities are principally financed by the voluntary giving of its members and congregation, often supplemented with tax rebates through the Gift Aid scheme, and at cost charges for some of its community activities.
## **FINANCIAL REVIEW**
## **Financial position**
The financial position of the charity is set out in the Statement of Financial Activities and Balance Sheet and the related notes which have been prepared in accordance with statutory requirements of the Charities Act 2011 and SORP (FRS 102).
## **Principal funding sources**
The principal funding sources of the Church are the voluntary donations and giving by members of the Church's congregation together with allied income tax rebates under the gift aid scheme. The Church also currently receives rental income on a property it owns but is not in use directly for accommodating members of staff.
## **Investment policy and objectives**
Any money not required for day to day use is placed on deposit with Santander, Charities Aid Foundation and the London Baptist Property Board. The Church owns two freehold houses, one is used to provide job related accommodation to the Minister and the other is currently rented out.
## **Reserves policy**
Recognising we have contractual commitments and the need for reserves to meet immediate expenditure to the Church's premises, the Church aims to hold a reserve equivalent to four months revenue expenditure. At the year end, reserves were approximately equivalent to that level.
Page 2
## **NORTH CHEAM BAPTIST CHURCH**
## **REPORT OF THE TRUSTEES**
## **Going concern**
The financial statements have been prepared on the going concern basis as in the opinion of the trustees there are no material uncertainties about the charity's ability to continue.
## **Funds in deficit**
There were no funds in deficit at the year end (2022 - none).
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **Governing document**
The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.
North Cheam Baptist Church (the "Church") was an Excepted Charity. Following the enactment of the Charities Act 2006 it become necessary for the Church to become directly Registered with the Charity Commission. During 2009 the Church approved and adopted a new Constitution at a Special Church Meeting on 18 March 2009 in line with that agreed between the Baptist Union of Great Britain and the Charity Commission. The Church was registered with the Charity Commission with effect from 15 September 2009 under charity number 1131643.
## **Recruitment and appointment of trustees**
The Church trustees comprise the Minister in office, Church Secretary, Treasurer, Elder and Deacons. The Minister is appointed by the Church at a Special Meeting and is employed under a letter of appointment. The other trustees are appointed in accordance with the Constitution adopted on 18 March 2009.
## **Decision making**
The trustees are aware of the Charity Governance Code and are considering how the relevant matters can be applied to and implemented by the Church.
## **Wider network**
The Church is a member of The Baptist Union of Great Britain. The London Baptist Property Board acts as ultimate trustee in respect of the church premises and the two manses.
Page 3
## **NORTH CHEAM BAPTIST CHURCH**
## **REPORT OF THE TRUSTEES**
## **Risk management**
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error. The trustees regularly review the major risks to which the Church is exposed and have established systems and procedures to mitigate those risks, particularly in the areas of financial management, child and vulnerable adult protection and premises health and safety.
## **REFERENCE AND ADMINISTRATIVE DETAILS**
**Secretary** Mr T Raby **Charity Registration Number** 1131643 **Principal address** Ridge Road Sutton Surrey SM3 9LY **Trustees** Rev M F Jackson Mr T Bates Mr S Ellingham Mr S Dixon Mr T Raby Mr E Dignan Mr F J Berry Mr D Nancarrow **Independent Examiner** Timothy Slater Associate of the Institute of Chartered Accountants Harmer Slater Limited Salatin House 19 Cedar Road Sutton Surrey SM2 5DA
Approved by order of the board of trustees on ....................09/01/24 and signed on its behalf by:
......................................... Mr T Raby - Secretary and Trustee
Page 4
## **NORTH CHEAM BAPTIST CHURCH**
## **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF NORTH CHEAM BAPTIST CHURCH**
I report to the charity trustees on my examination of the accounts of the North Cheam Baptist Church (the Trust) for the year ended 31 August 2023 which are set out on pages 6 to 20.
## **Respective responsibilities and basis of report**
As the charity’s trustees of North Cheam Baptist Church 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 North Cheam Baptist Church's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
## **Independent examiner’s statement**
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 North Cheam Baptist Church as required by section 130 of the Act; or
2. the accounts do not accord with those records.
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.
...................................... Timothy Slater Associate of the Institute of Chartered Accountants
Harmer Slater Limited Salatin House 19 Cedar Road Sutton Surrey SM2 5DA
Date:.............................09/01/2024
Page 5
## **NORTH CHEAM BAPTIST CHURCH**
## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 AUGUST 2023**
|**Note**
**Unrestricted**
**Funds**
**£**
**Income and**
**Endowments from:**
Donations and legacies
2
91,035
**_Charitable activities_**
_4_
Young People
3,529
Investment income
3
16,973
Other income
124
Total income
111,661
**Expenditure on:**
Raising funds
5
(2,918)
**_Charitable activities_**
_6_
Young People
(14,009)
Church
(90,645)
Total expenditure
(107,572)
Net movement in funds
4,089
**Reconciliation of funds**
Total funds brought
forward
447,458
**Total funds carried**
**forward**
**451,547**|**Restricted**
**Funds**
**£**
**Endowment**
**Funds**
**£**
-
-
-
-
-
-
-
-
-
-
-
-
-
-
(4,894)
-
(4,894)
-
(4,894)
-
9,434
1,807,802
**4,540**
**1,807,802**|**2023**
**Total**
**Funds**
**£**
91,035
3,529
16,973
124
111,661
(2,918)
(14,009)
(95,539)
(112,466)
(805)
2,264,694
**2,263,889**|**2022**
**Total**
**Funds**
**£**
88,377
2,579
13,633
492|
|---|---|---|---|
||||105,081|
||||(2,809)
(13,232)
(117,934)|
||||(133,975)|
||||(28,894)
2,293,588|
||||**2,264,694**|
Page 6
## **NORTH CHEAM BAPTIST CHURCH**
## **(REGISTRATION NUMBER: 1131643) BALANCE SHEET AS AT 31 AUGUST 2023**
|**Note**
**Fixed assets**
Tangible assets
13
**Current assets**
Debtors
14
Cash at bank and
in hand
Creditors: Amounts
falling due within
one year
15
**Net current**
**assets/(liabilities)**
**Net assets**
**Funds**
**16**
Unrestricted funds
Restricted funds
Endowment funds
**Total funds**|**Unrestricted**
**funds**
**£**
275,808
2,364
177,595
179,959
(4,220)
175,739
451,547
451,547
-
-
451,547|**Restricted**
**funds**
**£**
4,895
-
-
-
(355)
(355)
4,540
-
4,540
-
4,540|**Endowment**
**funds**
**£**
1,807,802
-
-
-
-
-
1,807,802
-
-
1,807,802
1,807,802|**2023**
**Total**
**funds**
**£**
2,088,505
2,364
177,595
179,959
(4,575)
175,384
2,263,889
451,547
4,540
1,807,802
2,263,889|**2022**
**Total**
**funds**
**£**
2,093,827
1,564
173,315|
|---|---|---|---|---|---|
||||||174,879
(4,012)|
||||||170,867|
||||||2,264,694|
||||||447,457
9,435
1,807,802|
||||||2,264,694|
The financial statements on pages 6 to 20 were approved by the trustees, and authorised for issue on ....................09/01/2024 and signed on their behalf by:
......................................... Mr T Bates Trustee
......................................... Mr T Raby Secretary and Trustee
Page 7
## **NORTH CHEAM BAPTIST CHURCH**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 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 financial statements include all transactions, assets and liabilities for which the trustees can be held responsible in law. They do not include the financial statements of the church groups that owe affiliation to another body nor those that are informal gatherings of church members.
## **Financial reporting standard 102 - reduced disclosure exemptions**
The charity has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland':
- the requirements of Section 7 Statement of Cash Flows.
## **Income**
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
## **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 costs 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.
Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.
## **Allocation and apportionment of costs**
Costs are allocated to the principal activities of the Church on the following basis:
- Salaries and related costs : time spent
- Other costs : in accordance with purpose and nature of expenditure
Page 8
## **NORTH CHEAM BAPTIST CHURCH**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023**
## **Tangible fixed assets**
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
## **Asset class**
Freehold property Fixtures & equipment
**Depreciation method and rate** 2% on cost 20% and 10% on cost
The Church premises constitute an inalienable asset, but not a heritage asset, for which reliable cost information is not available and conventional valuation approaches lack sufficient reliability. Accordingly the Church premises have been included in the financial statements at insurance value at 1 September 2014. The two freehold houses have been included in the financial statements at rebuilding cost as at 31 August 2002 using standard techniques and published information. These values have been treated as deemed costs at the date of transition of 1 September 2014.
The Church has in place an accounting policy of carrying out regular maintenance and repairs on its freehold properties (the cost of which are charged in full to the SOFA). No depreciation arises in the year on the freehold properties as in the opinion of the trustees the residual value of the properties are not materially different from their carrying amount in the financial statements. An impairment review of such fixed assets in accordance with FRS 102 section 27 is carried out as at 31 August each year.
## **Taxation**
The charity is exempt from tax on its charitable activities.
## **Fund accounting**
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. The funds representing the Church's two freehold houses are categorised as Designated Funds. The London Baptist Property Board, in its role as ultimate trustee, would need to consent to the monies represented by these funds being used for a substantially different purpose to that of the provision of the houses for the Church's own use.
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.
Endowment funds comprise property which must only be used for a particular purpose - in this case, the Church premises.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
## **Pensions and other post retirement benefits**
The pension costs charged in the financial statements represent contributions payable by the Church in accordance with FRS 17 "Retirement Benefits". The contributions payable by the Church now comprise both contributions to the new DC Baptist Union scheme, accounted for on the accruals basis, and a fixed percentage deficiency payment relating to the closed DB scheme. Accordingly the deficiency payment pension contributions have been accounted for as a defined contribution scheme although the underlying pension scheme provides benefits on a defined benefit basis.
Page 9
## **NORTH CHEAM BAPTIST CHURCH**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023**
## **Current assets**
Cash at bank and in hand includes cash held on deposit with the CAF Bank Ltd, Santander and the London Baptist Property Board.
## **Financial instruments**
The Church only has financial assets and liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.
## **Currency**
The Church's functional and presentational currency is pounds Sterling (GBP).
## **2 Donations and legacies**
|Offerings and donations
Offerings and donations - Gift aided
Legacies
Gift aid|**2023**
**£**
20,587
54,163
2,500
13,785
91,035|**2022**
**£**
12,267
60,933
-
15,177|
|---|---|---|
|||88,377|
## **3 Investment income**
|Rent received
Use of facilities
Deposit account interest|**2023**
**£**
13,680
40
3,253
16,973|**2022**
**£**
12,887
425
321|
|---|---|---|
|||13,633|
## **4 Income from charitable activities**
|Fees and subscriptions - Young People
**5 Raising funds**
Materials purchased|**2023**
**£**
3,529
**2023**
**£**
2,918|**2022**
**£**
2,579|
|---|---|---|
|||**2022**
**£**
2,809|
Page 10
## **NORTH CHEAM BAPTIST CHURCH**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023**
## **6 Charitable activities costs**
|**Direct**
**costs**
**(Note 7)**
**£**
Young People
-
Church
1,437
1,437
**Direct**
**costs**
**(Note 7)**
**£**
Young People
-
Church
1,420
1,420
**7 Direct costs of charitable activities**
Courses and conferences
Evangelism
Outreach and nurture
**8 Grants payable**
Church|**Grant**
**funding**
**of activities**
**(Note 8)**
**£**
-
11,609
11,609
**Grant**
**funding**
**of activities**
**(Note 8)**
**£**
-
11,295
11,295|**Support**
**costs**
**(Note 9)**
**£**
14,009
82,492
96,501
**Support**
**costs**
**(Note 9)**
**£**
13,232
105,219
118,451
**2023**
**£**
410
62
965
1,437
**Total**
**2023**
**£**
11,609
11,609|**Total**
**2023**
**£**
14,009
95,538|
|---|---|---|---|
||||109,547|
||||**Total**
**2022**
**£**
13,232
117,934|
||||131,166|
||||**2022**
**£**
490
-
930|
||||1,420|
||||**Total**
**2022**
**£**
11,295|
||||11,295|
Page 11
## **NORTH CHEAM BAPTIST CHURCH**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023**
The total grants paid to institutions during the year was as follows:
|London Baptist Association Home Mission Fund
Baptist Missionary Society
Messianic Testimony
Sutton Schools Christian Workers Trust
Sutton Community Works
London City Mission
Evangelical Alliance
Other independent charitable organisations|**2023**
**£**
3,600
3,844
1,500
1,500
600
375
120
70
11,609|**2022**
**£**
3,706
3,781
1,500
1,500
600
88
120
-|
|---|---|---|
|||11,295|
## **9 Support costs**
|Young People
Church
Young People
Church|**Management**
**£**
-
51,342
51,342
**Management**
**£**
-
58,326
58,326|**Church**
**premises**
**& Manses**
**£**
-
29,006
29,006
**Church**
**premises**
**& Manses**
**£**
-
44,723
44,723|**Young**
**People**
**£**
14,009
-
14,009
**Young**
**People**
**£**
13,232
-
13,232|**Governance**
**costs**
**£**
-
2,145
2,145
**Governance**
**costs**
**£**
-
2,170
2,170|**Total**
**2023**
**£**
14,009
82,493|
|---|---|---|---|---|---|
||||||96,502|
||||||**Total**
**2021**
**£**
13,232
105,219|
||||||118,451|
Page 12
## **NORTH CHEAM BAPTIST CHURCH**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023**
Support costs, included in the above, are as follows:
## **Management**
|Trustees' salaries
Trustees' pension contributions
Other trustee costs
Photocopier
Gifts
Copyrights and licences
Telephone and internet
Printing, stationery and office expenses
Depreciation of fixtures and equipment
**Church premises & manses**
Rates and water
Light and heat
Insurance
Premises maintenance
**Governance costs**
Independent Examiner
LBA & BU Capitation fees|**2023**
**Church**
**£**
37,968
4,527
538
443
64
294
1,558
629
5,321
51,342
**2023**
**Church**
**£**
3,191
4,619
4,924
16,272
29,006
**2023**
**Church**
**£**
1,140
1,005
2,145|**2022**
**Church**
**£**
36,170
8,716
-
333
8
453
1,395
967
10,284|
|---|---|---|
|||58,326|
|||**2022**
**Church**
**£**
3,217
3,172
4,485
33,849|
|||44,723|
|||**2022**
**Church**
**£**
1,140
1,030|
|||2,170|
Page 13
## **NORTH CHEAM BAPTIST CHURCH**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023**
## **Young People**
|Other staff costs
Wages
Pensions|**2023**
**Church**
**£**
90
12,639
1,280
14,009|**2022**
**Church**
**£**
-
12,037
1,195|
|---|---|---|
|||13,232|
## **10 Trustees remuneration and benefits**
|Trustees' salaries
Trustees' pension contributions
Other trustee costs|**2023**
**£**
37,968
4,527
538
43,033|**2022**
**£**
36,170
8,716
-|
|---|---|---|
|||44,886|
## **11 Staff costs**
The average monthly number of employees during the year was as follows:
|Minister
Young People|**2023**
1
1
2|**2022**
1
1|
|---|---|---|
|||2|
Total staff costs were as follows:
|Salaries
Pensions contribution
Other staff costs|**2023**
**£**
50,607
5,807
628
57,042|**2022**
**£**
48,207
9,911
-|
|---|---|---|
|||58,118|
No employee received emoluments of more than £60,000 during the current or previous years.
Page 14
## **NORTH CHEAM BAPTIST CHURCH**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023**
## **12 Comparatives for the Statement of Financial Activities**
|**Income and Endowments from:**
Donations and legacies
**_Charitable activities_**
Young People
Investment income
Other income
Total income
**Expenditure on:**
Raising funds
**_Charitable activities_**
Young People
Church
Total expenditure
Net expenditure
Net movement in funds
**Reconciliation of funds**
Total funds brought forward
Total funds carried forward|**Unrestricted**
**Funds**
**£**
88,377
2,579
13,633
492
105,081
(2,809)
(13,232)
(113,040)
(129,081)
(24,000)
(24,000)
471,458
447,458|**Restricted**
**Funds**
**£**
-
-
-
-
-
-
-
(4,894)
(4,894)
(4,894)
(4,894)
14,328
9,434|**Endowment**
**Funds**
**£**
-
-
-
-
-
-
-
-
-
-
-
1,807,802
1,807,802|**Total**
**Funds**
**£**
88,377
2,579
13,633
492|
|---|---|---|---|---|
|||||105,081|
|||||(2,809)
(13,232)
(117,934)|
|||||(133,975)|
|||||(28,894)|
|||||(28,894)
2,293,588|
|||||2,264,694|
Page 15
## **NORTH CHEAM BAPTIST CHURCH**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023**
## **13 Tangible fixed assets**
|**Cost**
At 1 September 2022
At 31 August 2023
**Depreciation**
At 1 September 2022
Charge for the year
At 31 August 2023
**Net book value**
At 31 August 2023
At 31 August 2022|**Freehold**
**property**
**£**
2,082,802
2,082,802
-
-
-
2,082,802
2,082,802|**Fixtures**
**& equipment**
**£**
73,157
73,157
62,132
5,322
67,454
5,703
11,025|**Total**
**£**
2,155,959|
|---|---|---|---|
||||2,155,959|
||||62,132
5,322|
||||67,454|
||||2,088,505|
||||2,093,827|
## **Depreciation of freehold buildings**
The Church has not depreciated its freehold properties, as the difference between their residual value and the carrying value is such that any depreciation charged would not be material. An impairment review in accordance with FRS 102 was performed as at the balance sheet date which resulted in no impairment charge for the year (2022 - £nil).
## **14 Debtors: amounts falling due within one year**
|Inter-fund loan
Gift Aid taxation|**2023**
**£**
355
2,009
2,364|**2022**
**£**
355
1,209|
|---|---|---|
|||1,564|
Page 16
## **NORTH CHEAM BAPTIST CHURCH**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023**
## **15 Creditors: amounts falling due within one year**
|Manse 2 deposit
Inter-fund loan
Accrued expenses|**2023**
**£**
1,338
355
2,882
4,575|**2022**
**£**
1,338
355
2,319|
|---|---|---|
|||4,012|
## **16 Movement in funds**
|**Unrestricted**
General fund
Manse 1
Manse 2
Luncheon Club
Fellowship Fund
General Reserve
Young People
Maintenance Reserve
General Gifts
Gift aided agency
Youth worker
**Restricted**
Specific Gifts
**Endowment**
Church premises at Ridge
Road, North Cheam,
Sutton SM3 9LY
**Total funds**|**Balance at**
**1 Sep 2022**
**£**
43,420
165,000
110,000
126
2,639
15,000
879
7,900
99,729
-
2,765
447,458
9,434
1,807,802
2,264,694|**Incoming**
**resources**
**£**
99,797
-
-
518
300
-
2,876
-
5,804
445
1,920
111,660
-
-
111,660|**Resources**
**expended**
**£**
(87,153)
-
-
(514)
(360)
-
(2,593)
(16,167)
-
(619)
(165)
(107,571)
(4,894)
-
(112,465)|**Transfers**
**£**
(16,691)
-
-
-
-
-
-
16,000
-
174
517
-
-
-
-|**Balance at**
**31 Aug 2023**
**£**
39,373
165,000
110,000
130
2,579
15,000
1,162
7,733
105,533
-
5,037|
|---|---|---|---|---|---|
||||||451,547
4,540
1,807,802|
||||||2,263,889|
Page 17
## **NORTH CHEAM BAPTIST CHURCH**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023**
## **Comparatives for movement in funds**
|**Unrestricted**
General fund
Manse 1
Manse 2
Luncheon Club
Fellowship Fund
General Reserve
Young People
Maintenance Reserve
General Gifts
Gift aided agency
Youth worker
**Restricted**
Specific Gifts
**Endowment**
Church premises at Ridge
Road, North Cheam,
Sutton SM3 9LY
**Total funds**|**Balance at**
**1 Sep 2021**
**£**
52,862
165,000
110,000
364
2,739
15,000
557
25,207
99,729
-
-
471,458
14,328
1,807,802
2,293,588|**Incoming**
**resources**
**£**
99,231
-
-
176
300
-
2,579
-
-
295
2,500
105,081
-
-
105,081|**Resources**
**expended**
**£**
(91,968)
-
-
(414)
(400)
-
(2,257)
(33,307)
-
(375)
(360)
(129,081)
(4,894)
-
(133,975)|**Transfers**
**£**
(16,705)
-
-
-
-
-
-
16,000
-
80
625
-
-
-
-|**Balance at**
**31 Aug 2022**
**£**
43,420
165,000
110,000
126
2,639
15,000
879
7,900
99,729
-
2,765|
|---|---|---|---|---|---|
||||||447,458
9,434
1,807,802|
||||||2,264,694|
## **17 Related party disclosures**
The Minister, who is also a trustee, is employed under a letter of appointment and is remunerated for his duties as minister, details of which are disclosed in the notes to the financial statements.
The total amount of donations without conditions received by the Church from the trustees during the year was £19,883 (2022 - £13,225). Apart from their individual voluntary giving to the Church and reimbursement to them of specific expenditure directly attributable to the activities of the Church there were no related party transactions between the trustees (other than the Minister) and the Church. No trustee was reimbursed any personal expenses incurred by them for services provided to the Church or received any remuneration from the Church (2022 - Nil).
## **18 Ultimate controlling party**
The Church is governed by the trustees under the general guidance of the Church Meeting in accordance with the Church's constitution.
Page 18
## **NORTH CHEAM BAPTIST CHURCH**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023**
## **19 Unrestricted designated funds**
The nature and purpose of the Church's unrestricted designated funds are as follows:
## **Manse 1 and Manse 2**
These funds represent the two freehold houses owned by the Church which have been included in the financial statements at rebuilding cost as at 31 August 2002 using standard techniques and published information. Manse 1 is occupied by the Minister. Manse 2 is currently let. The London Baptist Property Board, in its role as ultimate trustee, would need to consent to the monies represented by these funds being used for a purpose substantially different to that of the provision of Manses for the Church's own use.
No depreciation arises in the year on the freehold properties as in the opinion of the trustees the residual value of the properties are not materially less than their carrying amount in the financial statements.
## **Fellowship Fund**
This fund is available to the Minister to use on a confidential basis to meet the financial needs of members of the Church congregation in cases of extreme hardship or emergencies.
## **General Reserve**
This fund is money set aside in accordance with the Church's reserve policy, further details of which are given in the Trustees' Report.
## **Young People**
This fund is money to be utilised for the Church's activities in providing events and meetings open to all children and young people in the local community.
## **Maintenance Reserve**
This fund is money set aside to finance the day to day repairs, maintenance and upkeep of the church premises and two manses respectively.
## **General Gifts**
This fund relates to special one off gifts to the Church that is available to the Trustees to utilise as they determine.
## **Other**
The other funds relate to the specific other activities operated by the Church.
## **20 Restricted funds**
## **Specific Gifts**
This represents money given by way of legacies and gifts either for a specific purpose or at the discretion of the trustees and the Church Meeting.
Page 19
## **NORTH CHEAM BAPTIST CHURCH**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023**
## **21 Endowment funds**
This comprises the Church premises and is held on trust by The London Baptist Property Board to be retained indefinitely as a place of Christian worship.
Page 20