2023-12-31-accounts - Pinhoe Road Baptist Church, Exeter

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

Trustees’ Annual Report for the period

From 1[st] January 2023 To 31[st] December 2023

Charity name: Pinhoe Road Baptist Church

Charity registration number: 1132000

Objectives and Activities

	SORP reference
Summary of the purposes of the charity as set out in its governing document	Para 1.17	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 purposes in the United Kingdom and/or other parts of the world.
Summary of the main activities in relation to those purposes for the public benefit, in particular, the activities, projects or services identified in the accounts.	Para 1.17 and 1.19	The provision of regular services of public Christian worship is central to the church’s fulfilment of its primary purpose above. These have been held on Sundays at 9.15am and 11am, and advertised on the church website www.prbc.org.uk. They have also been accessible online via a livestream. A programme for all ages of children and young people is included in the morning services. Occasional courses are run to enable anyone to explore what it means to be a Christian, and these are publicised during Sunday worship. The church also runs several small groups for development of faith and discipleship. These meet during the week in the homes of some members and on church premises, and are advertised in the weekly newsletter distributed by email to any wishing to receive it. The church runs Parent and Toddler sessions at the church premises to assist the local community and demonstrate the love of Jesus Christ. Once a month, the church hosts a ‘Messy Church’ session for families with young children. A youth club meets on a week night. The church operates a safeguarding policy and ensures that all people working with children are appropriately vetted.

		A weekly coffee morning is run on church premises, open to any in the neighbourhood.
Statement confirming whether the trustees have had regard to the guidance issued by the Charity Commission on public benefit	Para 1.18	In planning activities to meet its objectives, the trustees have had regard to the guidance issued by the Charity Commission on public benefit, and in particular, the specific guidance on charities for the advancement of religion.
Additional information (optional) You may choose to include further statements		where relevant about:
	SORP reference
Policy on grant making	Para 1.38
Policy on social investment including program related investment	Para 1.38
Contribution made by volunteers	Para 1.38
Other

Achievements and Performance

	SORP reference
Summary of the main achievements of the charity, identifying the difference the charity’s work has made to the circumstances of its beneficiaries and any wider benefits to society as a whole.	Para 1.20	OurSunday worship serviceskept the pattern introduced last year, with two morning services at 9.15am and 11am, the second one being accessible online via a livestream, and with content available to watch back later. The earlier service has a much smaller congregation than the later one, but is well established. We have been joined by a good number of newcomers through the year. In 2023 we completed ourteachingseries on Mark’s gospel. This ran throughout the year, but was punctuated by breaks for short series on different topics or to hear from visiting speakers. One such highlight was the 90thanniversary of the founding of the church, marked in October. Forchildren and youth, the usual range of groups on Sunday morning [crèche, Primary Sunday School (3–8-year-olds), Xplore (7–12-year-olds), Encounter for teenagers] continued their teaching programmes during the 11am service or, in the case of Encounter, before the 11am service, with several teenagers staying on to help in the Primary group. A weekly session for Toddlers happens on Wednesday mornings. A Holiday Club was held for children during one week in August. ‘Messy Church’ continued each month with craft activities, food, and a bible-based story for families with young children, an event attended by around 90 visitors. During the week a youth club offers 9–11- year-olds a venue for socialising and games on Friday evenings. Within thesmall group programme, a variety of groups serve the discipleship needs of a diverse range of people. The Care Network team leader has stimulated practical pastoral care for those in various situations of need. The church hosts anInternational Cafè once a month, in partnership with another local church. This is designed to introduce new arrivals to life in the UK and Exeter, and to help them improve their English. Between 60 and 100 internationals attend the café regularly.

We ran an Alpha Course early in the year to help people explore the Christian faith. The church also held a variety of outreach events to spread the good news of Jesus and encourage more people into the church. Regular events include a Christmas Fair, a Carol Service and engagement with spectators of the Great West Run (held in May) which passes by the church. The membership of the church stood at 111 at the end of 2023.

Additional information (optional) You may choose to include further statements where relevant about:

Achievements against objectives set	Para 1.41
Performance of fundraising activities against objectives set	Para 1.41
Investment performance against objectives	Para 1.41
Other

Financial Review

Financial Review
Review of the charity’s financial position at the end of the period	Para 1.21	At the year-end there was a healthy surplus reflecting an increase in donations and less paid staff. The church is in a good position for future planned commitments.
Statement explaining the policy for holding reserves stating why they are held	Para 1.22	The trustees’ aim is to maintain a working balance sufficient to be able to cover our legal financial commitments for a period of 6 months. This would include our Ministers salary, NI contributions and pension contributions plus covering utility bills for the Manse and the Church and to maintain adequate buildings insurance cover.
Amount of reserves held	Para 1.22	The financial status at the end of 2023, going into 2024, was to have unrestricted funds available in the General Fund of at least £38,000. Our unrestricted reserves totalled £85,000 at the end of the year, significantly above the requirement.
Reasons for holding zero reserves	Para 1.22
Details of fund materially in deficit	Para 1.24
Explanation of any uncertainties about the charity continuing as a going concern	Para 1.23

Additional information (optional)

You may choose to include further statements where relevant about:

The charity’s principal sources of funds (including any fundraising)	Para 1.47
Investment policy and objectives including any social investment policy adopted	Para 1.46
A description of the principal risks facing the charity	Para 1.46
Other

Structure, Governance and Management

Description of charity’s trusts:
Type of governing document (trust deed, royal charter)	Para 1.25	Constitution (adopted 22ndOctober 2008 and amended 18thMay 2011 and 10thJune 2015 and 15thDecember 2020)
How is the charity constituted? (e.g unincorporated association, CIO)	Para 1.25	Unincorporated Association
Trustee selection methods including details of any constitutional provisions e.g. election to post or name of any person or body entitled to appoint one or more trustees	Para 1.25	Appointment by the church members’ meeting

Additional information (optional) You may choose to include further statements where relevant about:


Policies and procedures adopted for the induction and training of trustees	Para 1.51
The charity’s organisational structure and any wider network with which the charity works	Para 1.51
Relationship with any related parties	Para 1.51
Other

Reference and Administrative details

Charity name	Pinhoe Road Baptist Church
Other name the charity uses
Registered charity number	1132000
Charity’s principal address	Pinhoe Road Polsloe Bridge Exeter EX4 7HZ

Names of the charity trustees who manage the charity

Trustee name	Office (if any)	Dates acted if not for whole year	Name of person (or body) entitled to appoint trustee (ifany)
Rev George Peter Baker	Minister and Elder		Church Members’ Meeting
Mr Bruce Macpherson	Elder		Church Members’ Meeting
Mr Christopher Maurice Gardner	Elder		Church Members’ Meeting
Mrs Amanda Louise Grainger	Elder		Church Members’ Meeting
Mr John David Heathershaw	Elder	1stJanuary 2023 -22nd March 2023	Church Members’ Meeting

– Corporate trustees names of the directors at the date the report was approved

Director name N/A

Name of trustees holding title to property belonging to the charity

Trustee name	Dates acted if not for whole year
Baptist Union Corporation Limited Baptist House PO Box 44 129 Broadway Didcot Oxfordshire OX11 8RT

Funds held as custodian trustees on behalf of others

Description of the assets N/A held in this capacity Name and objects of the charity on whose behalf the assets are held and how this falls within the custodian charity’s objects Details of arrangements for safe custody and segregation of such assets from the charity’s own assets

Additional information (optional)

Names and addresses of advisers (Optional information)

Names and addresses of advisers (Optional information)	Names and addresses of advisers (Optional information)	Names and addresses of advisers (Optional information)
Type of adviser Name Address




Name of chief executive or names of senior staff members (Optional information)

Exemptions from disclosure

Reason for non-disclosure of key personnel details

Other optional information

Declarations Thè trustae8 declare that thoy havo approved tho trust, rnport abovo. Slgned on boh•ll of th• charlty's trusts•• Slgn•turn(8) Full namelsl Posttlon (•g Secretsry. Chalr, etc) George Peter Baker Ministef Bruce Macpheon Secretary 01 2024

Hugh S. Rodway 21 Maudlin Drive Teignmouth Devon TQ14 8RZ 01626 778328 Email: hughr@tiscali.co.uk REPORT & FINDINGS OF EXAMINER TO THE TRUSTEES and DEACONS OF PINHOE ROAD BAPTIST CHURCH EXETER Of the Accounts for the year ending 31¥t December 2023 16th March 2024 Once again. I would like to express my thanks and appreciation for the superb report which the Treasurer Chris Gamer has prodUd to accompany the accounts, and which made my tssk that much easier when carying out the Examination. FORMAT of ACCOUNTS The Management accounts are in the fomi of Receipt and Payments fomiat, which provides an overview to the Trustees, Deacons and Church as to the Income and Expenditure in 2023. Page 1 is a summary and the notes referring to the more detailed breakdown come as a separate attachment. A SOFA in line with Charity Commission guidelines has also been produced. GENERAL OVERVIEW. In accounting temis, for the second successive year, the Church made a surplus of £24232 against a surplus of£32408 the previous year. l understand that a major part of the additional income has come from an influx of new people regularty attending, which is extremely encouraging, and especially considering the economic condFtions faced by society throughout the year. REGULAR INCOME It is pleasing lo report that the Church continues to embrace new technology with regard to giving methods whether it be through the Churches Website. Terminal Card reader giving or through bank stsnding orders. Ironically, there are still many people who still use cash and over the past couple of years the amouni given by this method has started to increase again, mirroring the situation found in some other Churches. GIFT AID Since April 2016 the amount which can qualify for Small Cash Donations increased from £5000 10 £8000 which means that Ihe amount Ihat Churches c8n clain7 has similarty increased IrDm £1250. 00 to £2000.00 pa and one advantage of the increase is that the Church is able to take full advantage of this allowan from the HMRC without affecting the amount that the ChUh can claim from donations where they can be identffjed from individuals who have signed a declaration Fomi, 'It is worth mentioning that any donations given anonymously through tenninal giving can still qualify for GADS so can be used to ensure the maximum entitlement is c18imed. The chUh nom?ally submits a Gift Aid Claim every six months. but incidentally where a Church Ghooses to delay the submission, HMRC augments the amount claimed with some interest

BANKING In 2023 Ihe Church has continued to conduct its everyday banking wtth CAF Bank, where it operates both a General Account and a Gokl Account. CAF have recently announced that as fmm the 1st March 2024 Loose Cash can now be banked •t the local post o>Ti¢e which with the demise of the High Street Banks is excellent newsi In addition, a total of £28309 is held on deposit wrth the Baptisl Union Corpoiation where it is split over funds of a 7 Day and 3 Month noti. With the general rise in interest rates both these funds offer a good rate of interest which raised £1832 in 2023 compared with £501 the previous year and ensures that when fiAnds are required, they can be accessed quite quickly. However the Church might like to consider using CCLA (COIF) Charity, account esplalIY for any long temi funds for examplo Funds held in Serve see Financial Reserves below FINANCIAL RESERVES POLICY With the main building work completed the General Fund has rsow increased to 85K which is subslantially.more than the £38K minimal reserves level which rep,resenls. 6 monlhs of the average expendFture of fixed costs and also the legal responsibilities relating to paid staff such as the Minister RESTRICTED FUNDS The number of reslricted funds has been reduced lo just 2. which at the end of the year had the following.balances... Building FundlFabric 18528 Fellowship Fund 2076 TOTAL 20604 GIVING TO OTHER CAUSES it is pleasing to report that the Church continues to be very generous in its support for other Missions including the Baptist denominations Home Mission Fund, and BMS Wodd Vision in addition to some other National and local based chaiities. In 2023 the total amount was £20205 (£206111 which is again approximately 16° of total spend PAYROLL The Payroll {PAYEI continues to be handled in-house LIABILITIES At the end of 2021 the liability outstanding to the Baptist Ministers Pension Fund had redUd to £48100. In June 2022 there was an announcement to the effect that Churches would no longer be required to fund the deficit and repayments reduced to a nominal £1 a month1£12 pal This has meant a massive monthly savings for the majority of our Churches but the BMPF still reserved the right to reintrodu monthly repayments should circumstances change atthough this is extremely unlikely. It is hoped Ihat if all goes lo plan any liability will be totally cleared later in 2024 when the administralion of the fund becomes the responsibilrty of Just who will acquire it in a buy our process A suffl of £7794 has been held back as a retainer from Ellis & Clark Ibuildersl until such times as they have remedied all outstsnding snags. The other two amounts are donations which at the close of the year were Still awaiting to be paid to the respective organizations. RECONCILIATION ofACCOUNTS I can affirm that Ihe computer system agrees to that shown on the bank statements

NON4aONETARY ASSETS This relates to the insured value of the Church and the manse at 106 Sweelbrier Lane Exeter. CHURCHES, CHARITIES and INCORPORATION More and more Churches are changing to CIO Stalus and l am inforned that Pinhoe Road will be commencing the process very soon As you are aware this is a slow and arduous proceedure and even after being gaining a new Charity Number. there will be many administrative tssks to perfo such as notifying banks, utilities, rental companies etc. updating Web site- in fact anywhere where the Church Charity number is currently displayed and as a new organization there will then be a need to apply to the HMRC for new numbers for PAYE, GIFf AID RECOVERY which also includes a New Government Gateway However, the one recommgndation which I strongly advise in order to avoid any additional costs such as having to prepare 2 sets of Annual Accounts. that the new structure does not become operative until the close of the accounting year wtth the new Church charity operating from the first day of the subsequent year. SUMMARY The Management accounts which are attached are once again in the form of Receipt and Payments fomiat. which provides the overview to the Trustees, Deacons and Church as to the Income and Expenditure in 2023 and my examination has been conducted in accordance with the following criteria Independent examination al a glanc& To rnaintain public confKlence in the work of charities, charity law requires rrK)st charitEs to have an extemal scrutiny of their accounts. Provided a charity is not required by law or its governing document to have an audit then trustees may choDse a simpler and less expensive fom of extemal scrutiny called an Independent examinats"on. For financial years ending on 01 after 31 March 2015. trustees may opt for an independent examination instead of an audrt provided their charity's gross IncorTE is not more than £lm, or where gross income exceeds £250.000. its gross assets are not more thall £3.26 million. An independent eXaMinatn is a simpler fom of scrutiny than an audit but It still provides trustees, funders, beneficiaries, stakeholders and the publtc wth an assurance that the accounts of Ihe chanty have been revMved by an independent person. Al charibes wth an income ol more than £25.000 thal opt not to have an audrt must have lo have an èxamination. Whether tIng as a volunteer or being p8id a fee for their work, the ro* ot thè ndependent examiner is important and they must follow certain steps In carrying out the exarnination and make a pOrt to the trustees setting out PartUlar matters once they have finishe(I their examinatvn. There is a prO$S to be followed anfj separate guidance- Independent examination of eharty accounts". examiners ICC321- is avaiLable which tskes the examiner through the Directions which set the prOdureS that the examinei must follow, explain5 their reportsng duties and provide5 the examiner wrth pract1 advicè at every stagtr. WlTrilst in most cases the examiner will be reviewing receipts and payments accounts and so will not need to be a qualified accounlaTrt lo carry out a proper independent examination. the examiner still needs a certain level of ability and knowledge to undertake a ¢ornpetent examination and to set out their rèport in the way that is require(I by the 2008 Regulat5 Where gross in<x)me Is more than £250,000 charity requires the examiner to be a rnember of a body listed in the Charities Act. Once the figures are adopted, they will need to be filed on the Charity Commission together with the reports as in previous years. it is good to report that the fInanS of the Church are in excellent order and I pray God's blessing to your fellowship as you seek to show the love of Christ to those whom you are serving in your neighborhood. Hugh S Rodway

CHARITY COMMISSION FOR ENGLAND AND WALES Independent examinerfs report on the accounts Section A Independent Examinerfs Report Report to the trusteesl members ol PINHOE ROAD EXETER BAPTIST CHURCH On accounts for the year ended 3151 December 2023 Charity no lif any) 1132000 Set out on pages I report to the Iruslees on my examination of the accounts of the above charity I'the Trust I for the year ended 31112 12023 Responsibilities and basis of report As the charity's trustees. you are responsible for the preparation of the accounts in accordance with the requirements of the Charit1es Act 2011 ('Ihe Act.) I report in respect of my examination of the Trust'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 Comm1Ssion under section 14515llbl of the Act. Independent I have completed my examination. I confirm that no material matters have examiner's statement come lo my attention in connection with the examination which gives me cause lo believe that in. any material Spect.. the ac¢ounlin9 records were not kept in accordance with section 130 of the Charrties Act., or the accounts did not accord with the accounting re¢ords", or the accounts did not comply with the applicable requirements concerning the fom and conlenl of accounts set out in the CharEties IAccounls and Reports) Regulations 2008 other than any requirement that the accounts give a 'lrue 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 lo be reached. Signed: Date: 161h March 2024 Namo: Hugh S RODWAY Relevant professional qualificationls) or body lif any): Address: 21 Maudlin Drive Teignmoulh Devon TQ14 8RZ IER Oct 2018

CHARITY COMMISSION FOR ENGLAND AND WALES PINFIOE ROAD BApnsT CHURCH 1132000 Receipts and payments accounts CC16a For the peri¢xl 01101Q023 311tY2023 To Section A Receipts and payments UnY88tr6cted funds Restricted funds Endowment funrts Totsi Tund5 Last yO8r toth• ramst£ tothè r•Jrvt È th• nBaW4t£ A1 Rec8lpts Gifta 9iftaid d(thiVyIS SLw3r¢thip IGAYE OTrlinE Giftaid recov¥ed Hs11 hire Bank Intertst Otrr InEome 91431 131 13921 6072 21163 91,271 19.846 13.921 6,BS0 22.613 2.805 1,832 87 818 13.583 2.n2 27,241 IM70 501 3.572 1B32 5069 Sub tOtal(G5$ Fncome for AR) 161,324 171,209 A2 A888t investment ylè&, (see tsblel. Sub totsl 161,324 171.209 160,831 A3Pa stafh MinisTry Sumrt ¢hwch1rfe- adutts Chvr( lif@. wJut BuildiVJ ullives & mainlBKe Buildi [Ede¥el0pTt Evawdism & Ouirea 48.49 7.zro 47.40 7.270 4.309 1.727 6,849 25.855 8.T98 2.710 29,611 6,308 29,854 15,523 7.632 20.205 1,091 8.628 7.632 20,2QS 6.99$ - sub5 AdnMnyfd 6.191 137,371 Sub total 146,977 128.423 A4 and investment urcha5es, See tsblel Sub to¢al 137,3T8 145. 128.423 Netofr6c8iptsi(p8yments) A5 Tf¥n¥ferB b8tsfften fundts A6 Cash funds last yoarend Cash funds thi5 yearend 23,946 286 24.232 32,40B 61.141 85,1)67 20.319 20.605 B1,460 105,692 49.052 81. CCYJ R1 accounts ISSI (6m312024

Section B Statement of assets and liabilities at the end of the period Unrestrlcted Restricted funds to n•llrtf Endowment fund8 B1 Ca•h fvnd$ 10.47J 3B,305 8U CtyTrac¥Xts 28.309 Total cash fund5 85.087 20,605 Èli Unrestricted funds Restricted Endowment fund$ Detsils to to nwrt•¢£ 82 Othor monètary a88•ts Fundt&k bplo Cur¥•ntv•l eostloptkjna 83 Inv•stm•nt a•sots Details Fundtolch tIopbDnofj CurTrntvalu¥ B4 Asso18 retaln¢d for th• ¢harity'$ own us• Fund to which Amowi du BS LIatlItIeS Elhs &aU)nWPh¢ I JIlty Rv 7.794 1,020 VV(Kld Vis 141 SvJne(5 byor or iwo trv$e&on amof 811 the IFus08$ Si9nature Print NHrne Date of roval /4 7_£ ccY R2 a(uuTrts ISSI

FirHncial Statem1 for th6 Year erthd 31st Decem 2023 CHARrrY REGISTR4TION NO 1132( RÉCEIPTS &PAYMENTS ACCOUNT Pits., ZD23 03271 19N6 13921 13583 2772 27241 22873 ZBQ5 H•U hi tr•nk Y870 501 TOTAL In209 160831 siAffin9 48197 47409 10 n70 4305 6433 CINrth If•-•durts Cburth lrfe. 1727 12 13 25855 14 15623 15 7632 20305 2760 16 17 cO- aThJ •Lth 1091 16 14697 ihe yev 24232 81 452 19 18528 Fw)J 2076 271B 843 21 60787 TOTAL crfALL FUNDS 105692 81460 8TATEMEpn OF ASSEf8 AND UA8ILlnRS AT 31st DECEMBER 81 3055811 UABILtrEs Ened TrEa5urer D*e Examlner Date /6a¥rfa 202

Grand Total GENEPAL INCOME 84.OS5.74 7.255.Z4 120 GENERAL Redevel Gift ba8s Total It4COME Rdè4è1 FÈllow5hip Total 840S5.74 6840.1 7255 24 120.C 6B40.00 95.74 7255.241 120.OD ndayoffÈrtw.grftahÈd thert)5hlthryuÈs8rftdEd 91.430.98 2 DtIntbank-noTrKhak gJr&votf¢rthi. nM8lfta ther¢a5hltheqUEsItiul 15,383.55 3,497.(X) 150.00 15383.55 3497.00 150.00 120.W 2CO.OJ 495. a20.) 15703.55 49S.60 3992.60 150.C 19.030.55 L3.921.40 13,921.40 13921.40 O.fQ 13921.40 6,071.59 6,071.59 6071.ss 778.WJ 718.Y) 6850.49 5 Hlre 2,805.WJ I5.[> IS. 280S.ThI 6 tsbftAbdtixrecovored.8MwJl 19,663.52 196£3.52 0. 1450.QO 1499.67 0. 19663.51 1450. 14SO. l499.67 1459.67 21.153.19 1032.11 1832.11 1832.11 1832 JI 8 othèr 4.614.26 455.04 4614.26 455.04 o.(X) 4614.26 455.01 7oth*r8r 5.(h39.30 161,3XIZ I61312 I61Al2 8410. I4740 Q.¢0 17120B.6Z

Grand Totsi GENERAL INCOME GENEK4L ftee1 Gfftbais Tdtsl INCOME IdEvel Fellowship Trf Expendlture 26.248.51 529.76 285.14 4,218.( 3.717.36 13,311.59 175 12. 16248.51 529.76 285.241 4218. 3717.36 13311.59 175.LU 12. O.W 2624&51 529.76 285.24 421E.OD 3717.36 0 13311.59 175. EX&.TraVÉh&Exrrrt M5nWer'sdewdDpmemtu Mkir,$hat1Itht YDUthwDthrèNpEll5E5 4#m.46 10 Cow$altOnIÈrèrtÈ 1433 1924.79 Iso Z.742.30 14S3. 1924. 150. 2742.50 14Sa. 2924.79 150. 274R.SO Icr?adSu PraYWTrl$try 7270.29 IL C¥renEtwwk PqNDw5hlp4hls LWÈ4roups 2f4)4.th) 2604.CN) 431.86 903.84 365.rAI 431.86 903.84 365 431.86 fellow¥hlp 365.Lll 17fQ.7 11 JunKdrth 634.36 454.48 534.36 454.48 0.0) 4.80 414.84 PvEiI1SdTdIer5 454.48 4,804.80 414.84 63.8 PihNrySundSt ¥vJth.•ncount 41414 14 $04 8124 504.C 6994.73 IS118.73 O.Ihl 4564.Q7 95UO.52 1136.47 3932.90 0.0) 6964A6 3674.61 8124.CQ 6994.73 4564.07 9580.53 1136.47 3932.90 13 Chuith repak51rM1hrtge 464.07 9.5W).52 1136.47 3.932.90 6,964.86 3.674.6L thuithLWWIItJ K4anMr•ylrsindNlnt•MrK• aTrEeutili5 3674.sl 298s3.48 461.92 879.Cl) 4224.77 461.92 879.rx) 4224.77 1592.7D 461.92 879.00 4224.77 1591 70 474.(Y) lIfe5¥S %Itssy(hw(h ono 749.8S 474 842.85 474.C OJJ) 6789.54 Is e¥pttslWvrfdMls¥lonwnd LDcilmkithns 13.284. 4,891.(XJ 2.029.rJ) L3284.(K> 4892.0) 2019. 0. 13284.00 4892. 2029.1K> 20,205. 350.CL) OAX) 35Q.(X> Bank{hat5 Subscilpknorrt8UaThd EA 681.35 681.35 681.35 iCg1.35 IJ EqulWmtnt& Con5LffjibltJ LIcÈrs4ndstslLYjtl1tQr1 3,409.22 1,678.Y) 43&33 665.31 3409.22 1678.30 438.33 3409.22 1678.30 51all0ry 438.33 665.31 665.31 6.191.16 Tot•15 I2?.Al 127.9ts7AI I62D 8V.&S IJ7J78.16 69X7Y 2fjo4. Om 0.cil 9sxr4 146976.99 19 EndoftrttrbarKefwTrllj1nddufW1rdbUI1dl1ud 3830Q61 39077.95 28309.11 CAF ioKcount LOS691.67 23 2865925 482W4 InSuredvaly 3347929 14 EIandc1retethn r•lwwpport 7794 1020 141 8955

Pinhoe Road Baptist Church

Finance report 2023

Summary

Overall the church generated a surplus of £24,232 which resulted in total reserves rising from £81,460 to £105,692. £19000 of reserves relate to building redevelopment (Ministry Transformation Project).

Income and expenditure was monitored against budgets throughout the year with budget holders having access to the church’s finance system ExpensePlus. The end of year position on the operational budget is shown below.

		General fund summary	General fund summary
	General budget	Actual	Diference	%
Income	133,100	161,324	28,224	21
Expenditure	129,344	127,907	1,437	1
Surplus	3,756	33,417	29,661

Income

Total income in 2023 was £171,209 compared to £160,831 in the previous year.

Giving

There was an upward trend in total giving during 2023. The graph below illustrates total giving by month.

----- Start of picture text -----
Giving (excl building)
14000
12000
10000
8000
6000
4000
2000
0
jan feb mar apl may jun jly aug sep oct nov dec
----- End of picture text -----

The graph below illustrates the different sources of giving. There was a slight increase in Sunday offerings and online giving. Graph excludes gift aid and other income.

Giving (General)

----- Start of picture text -----
140
120
100
80
60
40
20
0
2023 2022
standing orders stewardship Sunday offering On-line Other
----- End of picture text -----

On-line giving raised £6850 in 2023 via Churchsuite app and from our new cardreader, of which £6072 was unrestricted.

Long term trend

The graph below shows stable income over the last 6 years with a upward trend. There was additional building project income in 2021.

----- Start of picture text -----
Income £000
200
180
160
140
120
100
80
60
40
20
0
2017 2018 2019 2020 2021 2022 2023
----- End of picture text -----

Expenditure

The pie chart below shows the breakdown in spend by area with staffing and building maintenance accounting for 61% of total spend. We continue to be generous in supporting external mission totalling £21,000 which is 16% of total spend.

2023 Spend

----- Start of picture text -----
Staffing Ministry support Church life Buildings
Evangelism Mission support Administration
----- End of picture text -----

Expenditure budget and outturn

The table below compares actual spend against the budgets approved by the church meeting. The areas to highlight are underspend on staffing due to the vacant MIT post and overspend on buildings due to insulation work at the manse and slightly higher utilities. No budget had been identified for Messy Church at the start of the year, hence greater spend on Outreach.

Staffing Ministry support Church life adult Church life child Buildings Evangelism Mission support Administration Totals	Budget Actual Diff £000 £000 £000 59 48 -11 8 7 -1 2 2 0 6 6 0 24 30 6 3 7 4 20 21 1 8 7 -1
	130 128 -2

Building maintenance and utilities

Total spend in 2023 was £29853 compared to £25855 in 2022. Notable spend was insulation improvements and emergency boiler replacement at the manse:

Replacement boiler £3900
Bedroom flat roof insulation £2130

Under utilities, the monthly charge for water had increased from £12 per month during Covid lockdown to £240 per month. Water consumption has reduced following the fitting of a device to the gents urinal in July. See below.

At the end of 2021 SSE stopped billing for electricity. Following a formal complaint from the Trustees and assistance by the Church Energy Purchasing Group, SSE recommenced billing in August 2023. The church continues to pay Exeter Community Energy for electricity generated by the solar panels at a reduced price per unit.

Subscriptions

As at December 2023, the church was still duplicating its Microsoft 365 licence.

Reserves

Our policy of retaining sufficient funds to cover 6 months staffing and utilities results in a minimum reserve level of £38000. Our unrestricted reserves totalled £85000 at the end of the year, significantly above the requirement.

Reserves General Building - des Building - res Fellowship res Total	£ 84706 382 18528 2076 105692

Ministry Transformation Project/ Building redevelopment

Building redevelopment

	Designated	Restricted	Total
	£	£	£
Opening balance	9010	17113	26123
Income		8410	8410
Transfers			0
Expenditure	8628	6995	15623
Closing balance	382	18528	18910

Expenditure in 2023 consisted of repairs to the slate roof of the old church and renewal of the flat roof over the youth room, from the designated fund. Competitive quote were obtained for the roofing work. From the restricted fund, improvements to the rear courtyard funded by a specific gift including:-

Resurfacing asphalt £5710
• Rubber matting £1023
Skip for rear garden £260

The church still retains approx. £7500 against the Ellis & Clark contract for the new entrance. As at December 2023, Ellis & Clark have not made good the damage from leaks in the new roof or provided the O&M documents.

Other restricted funds

The fellowship fund for supporting needs within the wider fellowship was well used during 2023 with several donations received and eight pastoral gifts made.

Cash and investments

The approach taken is to spread deposits across banking to minimise risk but to take advantage of good interest rates.

Deposits	Interest	Balance
CAF general		38304.61
CAF gold	2.5%	39077.95
BU 7 day	2.5%	1888.38
BU 3 month	4.5%	26420.73
Total		105691.7

Further transfer to BU deposit is planned in 2024

Members are reminded that donated funds should be used to further the kingdom of God rather than held indefinitely.

Related party transactions / Trustees remuneration and expenses

Our Pastor, George Baker, received stipend, heating allowance and reimbursement of expenses and our Treasurer, Chris Gardner, received reimbursement of expenses relating to equipment purchases. No contribution or reimbursement of expenses in respect of services provided by the Trustees has been made during the year.

Future commitments

In July 2022 we had a survey of all our roofs. Two flat roofs needed immediate attention and a further 5 flat roofs will need renewing in 2-4 years. The upper hall roof is approximately 34 years old and will probably need replacing in 2026-27 at a cost of £11k. The 2022 survey recommended “that an allowance is made to strip and re-slate the main roof and the smaller secondary roofs in the medium to long term, say within the next 10-15 years. Prior to that time there will be an increasingly frequent need for patch repairs”. Therefore in order to curtail rising maintenance costs the original church slate roof will need replacing in 2031 at an estimated cost of £65k.

Accounting policies

The financial statements have been prepared on a ‘receipts and payments’ basis and in accordance with the Charities Act 2011 and the Statement of Recommended Practice “Accounting and Reporting by Charities” Financial Reporting Standard 103 (FRS 103).

The church uses a national accounting system designed for UK charities which is called ExpensePlus. This is administered by the Treasurer and finance assistants Phil and Gina.

C Gardner, Treasurer, Feb 2024