2024-03-31-accounts

HODDESDON BAPTIST CHURCH CHARITY INFORMATION

FOR THE YEAR ENDED 31 MARCH 2024

Trustees Kathryn Edmonds (Secretary) Keith Woollgar (Treasurer) Edward Delasalle Rosanne Farrell Dave Gooderidge Janet Ince Simon Pateman Key Staff Dave Gooderidge Baptist Union Corporation, Baptist House, Custodian trustee PO Box 44, 129 Broadway, Didcot, OX11 8RT Governing Document Deed of Trust dated 5th November 1914 Constitution adopted 23rd June 2009, and amended on 29th June 2021 Charity Registration Number 1131809 Principal Address Hoddesdon Baptist Church Burford Street Hoddesdon EN11 8HX Independent Examiner Jaimée Young Stewardship 1 Lamb’s Passage London EC1Y 8AB

Bankers

Baptist Union Corporation Ltd, PO Box 44, 129 Broadway, Didcot, OX11 8RT

Barclays Bank plc, 51 High Street, Hoddesdon, EN11 8TG NatWest 43 High Street, Hoddesdon, Hertfordshire, EN11 8HE

CCLA Investment Management Ltd, One Angel Lane, London, EC4R 3AB

Contents

Charity Information Trustees' Annual Report Independent Examiner's Report Receipts and payments account Statement of assets and liabilities

Page 1 2-5 6 7 8

1

HODDESDON BAPTIST CHURCH

TRUSTEES' ANNUAL REPORT

FOR THE YEAR ENDED 31 MARCH 2024

The trustees are pleased to present their report together with the receipts and payments account of Hoddesdon Baptist Church (HBC) for the year ended 31st March 2024.

Objects of the charity

The primary object of HBC is the advancement of the Christian faith according to the principles of the Baptist denomination. In addition HBC may also advance education and carry out other charitable purposes in the United Kingdom and other parts of the world. The trustees confirm that they have referred to the Charity Commission’s guidance on public benefit when reviewing HBC’s aims and objects and in planning future activities.

The Church universal is not a building, but a collection of ordinary people of different ages and backgrounds, whose lives have been changed, or who are seeking to be changed, by Jesus Christ, the Son of God. The churches described in the New Testament were communities of people, who in loving and serving Jesus Christ, were also committed to love and care for each other and to bring blessing to the people around them. The individuals who constitute HBC are committed to the living out of those New Testament principles. HBC is not alone in this; it is one of many churches in the area, country and all over the world that is seeking to demonstrate that same love and service found in the New Testament so that friends, neighbours, family and colleagues may come to know Jesus as Lord, Saviour and friend.

Summary of the charity's main activities and achievements

To further the above objects and vision, the charity's main activities and achievements were as follows:

HBC is a member of both the Baptist Union of Great Britain (BUGB) and of the Central Baptist Association (CBA).

HBC is a member of the Evangelical Alliance, and a member of Churches Together in Hoddesdon, Broxbourne and Wormley (CTHBW). It works closely with the other members of CTHBW on local initiatives.

HBC supports and encourages individuals and organisations engaged in helping people to become disciples of Jesus, both in the UK and overseas.

HBC assists All Nations Christian College by taking students on placement and providing appropriate experience and mentoring, when so requested by the College.

Young Life in Hoddesdon, which works with 11 to 18 year old children, is supported in kind by HBC, in conjunction with the Mannamead Trust, by the free provision of the property adjoining the church’s Burford Street premises, as a base for its work amongst the young people of the area.

2

HODDESDON BAPTIST CHURCH

TRUSTEES' ANNUAL REPORT (continued)

FOR THE YEAR ENDED 31 MARCH 2024

The fulfilment of HBC’s primary object is only possible through the intentional activity of every individual making Jesus known in their daily lives. The financial resources of HBC, to a very large extent, are given by the individuals; their private assets and equipment are regularly used in the work of HBC. Much of this work is done privately, without recognition; the hours and value of that time cannot be quantified.

HBC demonstrates the love of Christ to the local community by organising groups, including a Toddler Group and a Walking Group, around particular interests and activities for the benefit of the wider community as well as individuals who are part of HBC.

HBC allows its halls to be used as a community resource by local community groups, such as Childrens’ Integrated Playschemes and Carers in Hertford Support Hub, and small local businesses at reasonable rates.

HBC organises community events from time to time to which neighbours of the church, and friends of church members can be invited. In particular HBC organised a quiz night and a Christmas carol service, both of which involved many local contacts and it hosted a fund-raising barn dance for Young Life.

In conjunction with the local Churches Together HBC runs a Grief Encounter course, the local foodbank and work with asylum seekers.

A programme of teaching for adults and children of all ages on Sundays and in groups that meet at other times during the week is implemented. During the past year this has been by meeting in person, with video conference for those people unable to attend in person.

HBC also provides support to churches working elsewhere both in the United Kingdom and overseas. This support has primarily been through individuals working full time in mission either in the UK or overseas. During the year HBC has supported members working overseas, one with a church in Zimbabwe and another working for a pan-African organisation. Via other UK charities HBC has supported partners working in Sri Lanka, France and in a global translation ministry.

Grant making policy

Grants to external organisations and individuals are considered no less than annually by the Trustees on the basis of need and fulfilment of the charitable objects. There are no upper or lower limits of support. One grant supports the Baptist Home Mission Fund while the other grants are principally made to support individual mission partners, usually overseas, with whom the church has a longstanding connection and from whom it receives regular updates and routine visits. A trustee visit was made to a France-based mission partner during the year.

3

HODDESDON BAPTIST CHURCH

TRUSTEES' ANNUAL REPORT (continued)

FOR THE YEAR ENDED 31 MARCH 2024

Structure, Governance and Management

Decisions relating to the charitable trust are made by the Deacons, who, as the Trustees of the charitable trust, are responsible for governing the life and teaching of the church. Day to day decisions on expenditure and activities are decided by staff and volunteers in charge of different areas of the church, with the budgets set and monitored by the Trustees. The powers of appointment or removal of Deacons rests with the general meeting of HBC. Deacons are selected from the membership of the church since this means that they are wholeheartedly involved in seeing the mission of the church worked out in practice.

Financial review

During the year receipts have satisfactorily covered the normal expenses of the church. Mission partner restricted income and mission partner grants were both reduced following a decrease in the number of mission partners supported by the church. Building expenditure was reduced following the completion of a refurbishment project in the prior year at a cost some £110,000.

Transactions with related parties

Reverend D A Gooderidge served as the minister of the church and was paid £28,319 [2023: £26,185] for serving in that capacity, not for serving as a trustee; these payments are permitted by the charity's governing document.

In addition the charity incurred expenditure totalling £6,387 (2023: £7,040) in respect of the provision of accommodation (which is customary for ministers) to Reverend D A Gooderidge, who is a trustee, so that he could better perform his duties.

The Baptist Pension Scheme

Previously the Baptist Pension Scheme’s now closed defined benefit scheme had been reporting a funding deficit and the charity had been making contributions to help make good the shortfall. The Baptist Pension Scheme provided estimates for the charity’s share of the funding deficit and the estimate at the year end was included as a monetary liability in the Statement of Assets and Liabilities.

In July 2022 the Baptist Pension Scheme reached an agreement with an insurance company, called Just, to secure the benefits payable under the now closed defined benefit pension scheme (‘DB Scheme’). The premium payable to Just was favourable and, after the transaction with Just, the DB Scheme no longer has a funding deficit. It will take some time to complete the process and, until it is complete, some risks remain. Based on current values the Baptist Pension Scheme believes it has sufficient assets to complete the process without requiring additional contributions from participating employers but, because some risks do remain, the charity has been asked to make a nominal monthly contribution of £1 to the DB Scheme from August 2022.

Restricted fund

The restricted fund relates to amounts given for the support of mission partners.

4

HODDESDON BAPTIST CHURCH

TRUSTEES' ANNUAL REPORT (continued)

FOR THE YEAR ENDED 31 MARCH 2024

Reserves policy

The Trustees have set a policy of retaining reserves sufficient for the foreseeable needs of HBC. HBC has previously and continues to set aside money into designated funds to build up contingency funds for major expenditure on church properties and possible future staffing costs. These designated funds could, however, be added to the general reserves should this be required. The free reserves are available to meet the costs of normal running of HBC and to ensure HBC can meet the commitments that have been entered into. The level of free reserves required at 31 March 2024 has been set at £140,000, to cover at least one year’s expenses, compared to an actual amount of £146,468. Restricted reserves at 31 March 2024 stand at £6,250.

Trustees' responsibilities statement

The trustees are responsible for the preparation of receipts and payments accounts for each financial year and a statement of assets and liabilities at the end of each financial year. The trustees have responsibility for maintaining proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with charity legislation. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Investments

HBC has a significant investment holding which has generated income in the year as well as an appreciation in capital value. This reflects the decision of the Trustees to hold a mixture of ethical investments to generate both income and capital growth in the long term, to be available to cover any significant property expenditure.

Approval

This report was approved by the trustees and signed on their behalf by: K. R. Woollgar K R Woollgar 8[th] July 2024

5

INDEPENDENT EXAMINER'S REPORT

TO THE TRUSTEES OF

HODDESDON BAPTIST CHURCH

I report to the trustees on my examination of the accounts of Hoddesdon Baptist Church ('the charity') for the year ended 31 March 2024 on pages 7 to 8 following.

Responsibilities and basis of report

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

I report in respect of my examination of the charity’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 2011 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 accordance with section 130 of the 2011 Act; or

2. the accounts do not accord with the accounting records.

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

J. Young

Jaimée Young

Stewardship 1 Lamb's Passage LONDON EC1Y 8AB

Date: 17 July 2024

Page 6

Charity Name No (if any) Hoddesdon Baptist Church 1131809 Receipts and payments accounts CC16a For the period Period start date Period end date To from 01/04/2023 31/03/2024 ee a Section A Receipts and payments

	Unrestricted funds	Unrestricted funds			Restricted funds			Endowment funds	Endowment funds	Endowment			Total funds		Last year
	to the nearest £		to the nearest	to the nearest	to the nearest £			to the nearest £	to the nearest £				to the nearest £		to the nearest £
A1 Receipts
Tax efficient donations	85,814	85,814	85,814		-	-		-	-	-	-		85,814		80,829
Restricted mission partner donations	-	-	-		7,748	7,748		-	-	-	-		7,748		15,638
Tax recovered	23,258	23,258	23,258		1,738	1,738		-	-	-	-		24,996		24,079
Other donations	5,782	5,782	5,782		-	-		-	-	-	-		5,782		15,644
Hall hires	12,214	12,214	12,214		-	-		-	-	-	-		12,214		14,864
Investment, interest and other receipts	5,340	5,340	5,340		-	-		-	-	-	-		5,340		7,258
	-	-	-		-	-		-	-	-	-		-		-
	-	-	-		-	-		-	-	-	-		-		-
Sub total(Gross income for AR)	132,408	132,408	132,408		9,486	9,486		-	-	-	-		141,894		158,312
A2 Asset and investment sales, (see table). - - - - - - - - - Sub total - - - - - Total receipts 132,408 9,486 - 141,894 158,312 ———~~—_~~—
A3 Payments
Personnel costs	49,051	49,051	49,051		-	-		-	-	-	-		49,051		42,760
Sunday activities	4,881	4,881	4,881		-	-		-	-	-	-		4,881		3,806
Mission partner grants	30,184	30,184	30,184		9,486	9,486		-	-	-	-		39,670		50,934
Buildings, equipment & insurance	22,795	22,795	22,795		-	-		-	-	-	-		22,795		136,666
Other costs	8,315	8,315	8,315		-	-		-	-	-	-		8,315		11,125
	-	-	-		-	-		-	-	-	-		-		-
	-	-	-		-	-		-	-	-	-		-		-
	-	-	-		-	-		-	-	-	-		-		-
	-	-	-		-	-		-	-	-	-		-		-
**Sub total **	115,226	115,226	115,226		9,486	9,486		-	-	-	-		124,712		245,291
A4 Asset and investment purchases, (see table) - - - - - - - - Sub total - - - - - Total payments 115,226 9,486 - 124,712 245,291 ———~~_—~~
Net of receipts/(payments)	17,182	17,182		17,182	-	-	-	- 17,182	- 17,182	- 17,182	- 17,182	- 17,182	- 17,182	- 17,182	- 86,979
A5 Transfers between funds	-	-	-	-	- -	- -	- -	- -	- -	- -	- -		-		-
A6 Cash funds last year end	120,418	120,418		120,418	6,250		6,250	-	-	-	-		126,668		213,646
Cash funds this year end	137,600	137,600		137,600	6,250		6,250	- 143,850	- 143,850	- 143,850	- 143,850	- 143,850	- 143,850		126,667

Section B Statement of assets and liabilities at the end of the period

Categories Signed by one or two trustees on behalf of all the trustees B1 Cash funds B2 Other monetary assets B4 Assets retained for the charity’s own use B5 Liabilities B3 Investment assets	Hargreaves Lansdown cash balance COIF Charities Deposit Fund BU Corporation 7 day notice deposit Signature K. R. Woollgar Independent Examiner's Fee Details Details Church Manse Barclays current account NatWest current account BU Corporation 3 month notice deposit Details Details Total cash funds (agree balances with receipts and payments account(s)) Details Hargreaves Lansdown	Unrestricted funds Restricted funds to nearest £ to nearest £ - 6,250 48,999 - 1,327 5,388 79,536 2,350 - 137,600 6,250 OK OK Unrestricted funds Restricted funds to nearest £ to nearest £ - - - - - - - - - - - - Fund to which asset belongs Cost (optional) Unrestricted - - - - - Fund to which asset belongs Cost (optional) Endowment - Unrestricted - - - - Fund to which liability relates Amount due (optional) Unrestricted 1,290 - Print Name K R Woollgar	Endowment funds to nearest £ - - -
			-
			OK
			Endowment funds to nearest £ - - - - - - Current value (optional) 190,868 - - - - Current value (optional) 1,237,974 65,700 - - - When due (optional) Date of approval 08/07/2024