2023-12-31-accounts - Purley Baptist Church

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PURLEY BAPTIST CHURCH

Building authentic, courageous, generous Christian community

ANNUAL REPORT AND CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

Company number: 07033844 Charity number: 1132285

Contents	Page
Leadership Team report	1 – 4
Auditor’s report	5 - 7
Consolidated Statement of Financial Activities	8
Consolidated Balance Sheet	9
Consolidated Cash Flow statement	10
Church Statement of Financial Activities	11
Church Balance sheet	12
Notes to the financial statements	13 – 22

PURLEY BAPTIST CHURCH

LEADERSHIP TEAM REPORT

The Leadership Team of the church present a combined Trustees’ and Directors’ Report and Consolidated Financial Statements for the year ended 31 December 2023. The financial statements comply with the Charities Act 2011, the Companies Act 2006, the Memorandum and Articles of Association, and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with Financial Reporting Standard 102.

Reference and administrative information

Trustees and directors (Key management personnel)

Tim Allen Michele Bailey David Clarke James Collins Jenny Giles Helen Harris

Olumide Lala Ben Quartey-Papafio David Colpus Linda Davies Chris Roe

Advisers:

Auditors: Shaw Gibbs (Audit) Limited, 264 Banbury Road, Oxford, OX2 7DY Solicitors: Streeter Marshall, 12 Purley Parade, High Street, Purley, CR8 2AB Bankers: HSBC Bank plc, 54 Woodcote Road, Wallington, SM6 0NJ

Structure, governance and management

Purley Baptist Church (PBC) is a company limited by guarantee and a registered charity, governed by its Memorandum and Articles of Association.

The Leadership Team (LT) are the directors and trustees of the charitable company and is comprised of stipendiary ministers who serve during their time in office and ‘lay’ leaders who are elected by the church members to serve for up to two periods of 5 years.

The LT is responsible for the oversight of the church and strategic planning. It meets regularly for prayer and business. Training and induction of new LT members is incorporated in these meetings. Co-ordinators (previously, Heads of Department) oversee particular areas of church ministry and are accountable to the LT.

Major decisions are taken to a meeting of church members; these are held at least four times a year.

The Church has a subsidiary company, 58:12 which was formed to carry out the proposed development of the island site in Purley. The church is also the trustee of the Purley Baptist Church Land Trust, which holds the title to the church property on trust for the church and the old ‘excepted’ charity, Purley Baptist Church.

Remuneration of key management personnel

The non-ministerial trustees give of their time freely and received no remuneration in the year. The detail of ministerial pay and related party transactions are shown in note 15 to the accounts. The pay of the ministers is reviewed annually and normally increased with reference to increase in the cost of living and the recommendation of the Baptist Union.

Objectives and activities

The main object of the church, as set out in its memorandum of association, is the advancement of the Christian faith in accordance with the doctrines usually denominated “evangelical” and in particular those set out in the Articles of Faith. The other objects are the advancement of education, citizenship and community development and the relief of poverty.

Page 1

PURLEY BAPTIST CHURCH

LEADERSHIP TEAM REPORT (continued)

The church’s vision statement is: ‘building authentic, courageous, generous Christian community.’ The church seeks to bring about transformation in the lives of individuals as they come to know Jesus Christ and transformation in the community through the provision of facilities and activities.

The main resource that the church supplies to advance its objectives is people – both paid staff and volunteers. Around half of annual expenditure is on staff costs. We are grateful to God for the many hours of faithful service given by church members to enable the activities of the church to continue.

The Leadership Team has had due regard to the Charity Commission’s guidance on public benefit when considering the activities in the period.

Grant making policy

There are established processes by which the church gives money to other organisations and individuals. Mission partners are supported via grants to their sending organisations. Funds are raised for these by means of occasional special offerings and other fund-raising events. Donations are also made to other causes as needs come to our attention and funds are available.

Achievements and performance

God has been very gracious to our church family throughout 2023. Our morning in-person congregations now exceed pre-Covid levels whilst the 11.15 am service continues to be made available as a live stream or as a recording via our YouTube channel attracting around 150-200 hits a week. We have welcomed a good number of new church members and all the indications are that the church is growing.

The premises continue to be in use on almost every day of the year. Once again, each week, we have welcomed hundreds of local residents into our buildings to enjoy a wide range of church and community activities. These have included: Jigsaws, our bi-monthly service for adults with learning disabilities and their carers; Cameo, our mid-week service for retired people and Bods and Tods, a weekly baby and toddler group. Life Groups met during the week to provide fellowship and teaching. Church members are encouraged to attend our monthly ‘Heartbeat’ prayer meetings. Church members’ meetings continue to be ‘hybrid’ (available both in-person and on-line); we continue to enjoy greater participation than our pre-lockdown ‘in-person only’ meetings.

Amidst economic conditions that have continued to be challenging proactive pastoral support has been provided to members who have faced difficulties during the year. We have continued to use the Hardship fund to help those facing financial strain. We also continue to run a counselling service which provides affordable, professional counselling to church members and those in the community.

PBC continues to offer a substantial programme of activities aimed at helping people facing hardship / depravation. The Purley Cross Centre offers various services and ministries. In cooperation with other local churches, we continue to offer a suite of CAP (Christians Against Poverty) services which are very popular and have helped many people. Church members have worked with Purley & Kenley Churches Together to run a Food Hub which provides food to those in need and Renew 23, a café, open to all, (based in the church premises) where it is ‘OK not to be OK’. We also offer numerous courses aimed at helping people with basic life skills.

At the end of May Wendy Colpus left her staff position overseeing our Children and Families ministry. Wendy had served faithfully and excellently during her time on the staff team. In August, Michael and Grace Oggudah joined the staff team appointed to carry on this work on a temporary basis while we decided on a longer-term replacement. In September, Lucia Wood was appointed as a youth work intern.

Page 2

PURLEY BAPTIST CHURCH

LEADERSHIP TEAM REPORT (continued)

Achievements and performance (continued)

Children’s and youth ministry continues to be a very high priority. We have continued to offer various age groups running during the 11:15am service – attendance has improved and is now approaching pre-Covid levels. In partnership with the church, the Scouts groups have continued to meet and take part in our monthly Parade service. The church also runs ‘Super Saturdays’, a group meeting monthly with lots of activities for children and families on Saturday mornings.

Progress continues to be made with the 58:12 development project. Phase 1 of the project (comprising affordable housing units on the Banstead Road) is almost complete; we look forward to welcoming the new residents soon. We have formed various teams to oversee the 58:12 project, protect the church’s interests and begin to plan for life in our new premises. These teams include some individuals with much relevant, professional expertise.

Financial review

The church continues to be funded mainly by donations from members. A loss for the year was recorded largely due to unplanned spending on our buildings and a decision to make an in year pay award to staff that recognised the level of inflation. 58:12 continues to receive sufficient income to cover ongoing expenditure.

Reserves policy

The total funds of the church at the end of the year were £2,365,644. £2,139,552 of this is invested in fixed assets, mainly property. £16,697 is held in restricted funds.

The Leadership Team has established a policy whereby the unrestricted funds not committed or invested in tangible fixed assets (“the free reserves”) held by the church should be around 3 months essential expenditure plus a provision for possible fluctuations in income. This equates to approximately £250,000. The free reserves at 31 December 2023 were £206,000.

Risks and uncertainties

The church has identified that a lack of volunteers or suitable staff are significant risks as the church would be unable to continue its current level of activity. These risks are managed by publicising volunteer opportunities in a variety of different ways and taking care over the recruitment of staff so they are a good fit with the church. We also awarded an in year pay increase to staff in recognition of their tremendous commitment to the church and against the background of significant price inflation eroding their real level of pay. This was intended to provide further mitigation of the risk that staff leave because the level of pay was insufficient. Work among children, young people and vulnerable adults means there is a risk of accusations being made against staff or volunteers. Safeguarding policies and procedures are in place to reduce this risk, together with ongoing training.

There are a number of risks associated with the potential development of the site that have been identified including the potential risk to the financial viability of the scheme following increases in the price of building materials and associated costs and uncertainty about the revenue the developer would receive from the sale of flats. These risks are being borne by the developer but there remains the residual risk that the developer might seek to vary the agreement with us, this can only be done with our agreement Regulatory risks regarding the legal details of the agreement are addressed by using a firm of solicitors that have expertise in this area.

Plans for the future

The church will, of course, continue to prioritise its charitable objectives and commensurate activities as spelt out above. The prospect of extensive new church and community facilities presents a major and exciting opportunity for PBC to extend its achievement of these. It is envisaged that this will require an increasing amount of leadership, creativity and detailed planning in the next few years.

Page 3

PURLEY BAPTIST CHURCH

LEADERSHIP TEAM REPORT (continued)

Statement of Directors’ Responsibilities

The directors are responsible for preparing the annual report and the financial statements in accordance with applicable law and United Kingdom Accounting Standard (United Kingdom Generally Accepted Accounting Policies).

Company law requires the directors to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and the group and of incoming resources and application of resources, including the income and expenditure of the charitable group for the period. In preparing these financial statements, the directors are required to:

select suitable accounting policies and then apply them consistently;
make judgements and accounting estimates that are reasonable and prudent;
state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the church will continue in its activities.

The directors are responsible for keeping adequate accounting records which disclose with reasonable accuracy at any time the financial position of the church and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the church and hence for taking reasonable steps for the prevention and detection of fraud or other irregularities.

Disclosure of information to the auditors

To the knowledge and belief of the directors, there is no relevant information that the company’s auditors are not aware of, and the directors have taken all the steps necessary to ensure that the auditors are aware of any relevant information, and to establish that the company’s auditors are aware of this information.

The above report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

Approved by the Leadership Team on 24 September 2024 and signed on their behalf by:

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David Clarke Director

Purley Baptist Church Banstead Road Purley Surrey CR8 3EA

Page 4

INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS AND TRUSTEES OF PURLEY BAPTIST CHURCH

Opinion

We have audited the financial statements of Purley Baptist Church (the 'charitable company') for the year ended 31 December 2023 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’.

In our opinion the financial statements:

give a true and fair view of the state of the group’s and parent charitable company's affairs as at 31 December 2023 and of the group’s and the parent charitable company’s incoming resources and application of resources, including their income and expenditure, for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees’ with respect to going concern are described in the relevant sections of this report.

Other information

The trustees are responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our Report of the Independent Auditors thereon.

Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinion on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

the information given in the Report of the Trustees for the financial year for which the financial statements are prepared is consistent with the financial statements; and
the Report of the Trustees has been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Trustees.

Page 5

INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS AND TRUSTEES OF PURLEY BAPTIST CHURCH (continued)

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

adequate accounting records have not been kept or returns adequate for our audit have not been received from branches not visited by us; or
the financial statements are not in agreement with the accounting records and returns; or
certain disclosures of trustees' remuneration specified by law are not made; or
we have not received all the information and explanations we require for our audit; or
the trustees were not entitled to take advantage of the small companies exemption from the requirement to prepare a Strategic Report or in preparing the Report of the Trustees.

Responsibilities of trustees

As explained more fully in the Statement of Trustees Responsibilities, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Our responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

The extent to which the audit was considered capable of detecting irregularities including fraud

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;
we identified the laws and regulations applicable to the company through discussions with trustees and other management, review of the company’s list of legal & regulatory requirements, and from our commercial knowledge and experience of the sector;
we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the charitable company, including the Companies Act 2006, charity legislation, employment, safeguarding and health and safety legislation;
we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting relevant correspondence; and
identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit.

Page 6

INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS AND TRUSTEES OF PURLEY BAPTIST CHURCH (continued)

We assessed the susceptibility of the charitable company’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and
considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.

To address the risk of fraud through management bias and override of controls, we:

performed analytical procedures to identify any unusual or unexpected relationships;
tested journal entries to identify unusual transactions;
assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias; and
investigated the rationale behind significant or unusual transactions.

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

agreeing financial statement disclosures to underlying supporting documentation;
reading the minutes of meetings of those charged with governance;
obtaining an overview of the internal procedures adopted by the client to ensure continued compliance with relevant laws and regulations, including a review of a sample of the reports from internal process audits;
enquiring of management as to actual and potential litigation and claims; and
reviewing relevant correspondence with relevant regulators and the company’s legal advisors.

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors.

This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Lance Redman (Senior Statutory Auditor) for and on behalf of Shaw Gibbs (Audit) Limited 264 Banbury Road Oxford OX2 7DY

25 September 2024

Page 7

PURLEY BAPTIST CHURCH

CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES

(including the income and expenditure account)

FOR THE YEAR ENDED 31 DECEMBER 2023

Unrestricted Restricted Funds Funds £ £ Income from: Donations and legacies 568,829 31,061 Charitable activities (note 3) 23,590 9,717 Other trading activities 47,600 - Investments 5,566 - Premium 3,284 - Other 2,170 - Total income 651,039 40,778 Expenditure on: Charitable Activities (note 5a) Ministry/Worship 347,469 - Mission 319,355 6,585 Purley Cross Centre 4,712 22,664 Total expenditure 671,536 29,249 Net (expenditure)/income (20,497) 11,529 Transfers between funds - - Net movement in funds (20,497) 11,529 Reconciliation of funds Fund balances brought forward 4,786,343 885,980 Fund balances carried forward 4,765,846 897,509	Unrestricted Restricted Funds Funds £ £ Income from: Donations and legacies 568,829 31,061 Charitable activities (note 3) 23,590 9,717 Other trading activities 47,600 - Investments 5,566 - Premium 3,284 - Other 2,170 - Total income 651,039 40,778 Expenditure on: Charitable Activities (note 5a) Ministry/Worship 347,469 - Mission 319,355 6,585 Purley Cross Centre 4,712 22,664 Total expenditure 671,536 29,249 Net (expenditure)/income (20,497) 11,529 Transfers between funds - - Net movement in funds (20,497) 11,529 Reconciliation of funds Fund balances brought forward 4,786,343 885,980 Fund balances carried forward 4,765,846 897,509	2023 Unrestricted Restricted Total Funds Funds £ £ £ 599,890 532,546 20,601 33,307 12,196 30,893 47,600 42,900 - 5,566 440 - 3,284 50,000 - 2,170 1,170 - 691,817 639,252 51,494 347,469 273,293 - 325,940 350,099 19,410 27,376 - 25,442 700,785 623,392 44,852 (8,968) 15,860 6,642 - - - (8,968) 15,860 6,642 5,672,323 4,770,483 879,338	2023 Unrestricted Restricted Total Funds Funds £ £ £ 599,890 532,546 20,601 33,307 12,196 30,893 47,600 42,900 - 5,566 440 - 3,284 50,000 - 2,170 1,170 - 691,817 639,252 51,494 347,469 273,293 - 325,940 350,099 19,410 27,376 - 25,442 700,785 623,392 44,852 (8,968) 15,860 6,642 - - - (8,968) 15,860 6,642 5,672,323 4,770,483 879,338	2023 Unrestricted Restricted Total Funds Funds £ £ £ 599,890 532,546 20,601 33,307 12,196 30,893 47,600 42,900 - 5,566 440 - 3,284 50,000 - 2,170 1,170 - 691,817 639,252 51,494 347,469 273,293 - 325,940 350,099 19,410 27,376 - 25,442 700,785 623,392 44,852 (8,968) 15,860 6,642 - - - (8,968) 15,860 6,642 5,672,323 4,770,483 879,338	2022 Total £ 553,147 43,089 42,900 440 50,000 3,417 690,746 273,293 369,509 25,442 668,244 22,502 - 22,502 5,649,821 5,672,323
	897,509	5,663,355	4,786,343	885,980

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PURLEY BAPTIST CHURCH

CONSOLIDATED BALANCE SHEET

AS AT 31 DECEMBER 2023

Note Fixed assets Tangible assets 8a Current assets Debtors 9a Cash at bank and in hand Current liabilities Creditors: Amounts falling due in less 10a than one year Net current assets Total assets less current liabilities Creditors: Amounts falling due after more 11 than one year Net assets Represented by Restricted Funds 13a Unrestricted Funds 12a		2023 £ £ 5,397,276 175,205 276,139 451,344 185,265 266,079 5,663,355 ( -) 5,663,355 897,509 4,765,846 5,663,355	2023 £ £ 5,397,276 175,205 276,139 451,344 185,265 266,079 5,663,355 ( -) 5,663,355 897,509 4,765,846 5,663,355		2022 £ £ 5,382,653 360,648 616,392 977,040 500,370 476,670 5,859,323 ( 187,000) 5,672,323 885,980 4,786,343 5,672,323

			897,509 4,765,846 5,663,355

The financial statements were prepared in accordance with the special provisions of the Companies Act 2006 relating to small companies, were approved by the Leadership Team on September 2024 and signed on 24 their behalf:

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David Clarke Director

Company number: 07033844

Page 9

PURLEY BAPTIST CHURCH

CONSOLIDATED CASH FLOW STATEMENT

YEAR ENDED 31 DECEMBER 2023

			2023			2022	2022
	£			£	£			£
Net cash provided by/(used in)
operating activities (see below)				155,315			(154,223)
Cash flows from investing activities
Proceeds on disposal of property		-			639,000
Purchase of property, plant and equipment	(28,568)				(18,712)
Net cash (used in)/provided by investing activities			(28,568)				620,288
Cash flows from financing activities
Repayments of borrowing	467,000				380,000
Net cash used in financing activities			( 467,000)				( 380,000)
Change in cash in the year			(340,253)					86,065
Cash at start of the year			616,392				530,327
Cash at the end of the year			276,139				616,392
Reconciliation of net cash provided by operating	activities
				£				£
Net (expenditure)/income			(	8,968)				22,502
Depreciation				13,945				14,688
Loss on disposal of fixed assets				-				861
Change in debtors			185,443				(92,506)
Change in creditors			(	35,105)			(	71,168)
Change in provision				-			(28,600)
Net cash provided by/(used in) operating activities				155,315			(154,223)
Analysis of changes in net debt
		At 1 Jan		Cash	Non-cash			At 31 Dec
	2023			flows	changes			2023
Cash	616,392		(340,253)			-	276,139
Loans falling due within one year	(280,000)		280,000			-		-
Loans falling due in more than one year	(187,000)		187,000			-		-
	149,392		126,747			-	276,139

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PURLEY BAPTIST CHURCH

STATEMENT OF FINANCIAL ACTIVITIES

(including the income and expenditure account)

FOR THE YEAR ENDED 31 DECEMBER 2023

	Unrestricted	Restricted	2023 Unrestricted	2023 Unrestricted	Restricted	2022
	Funds	Funds	Total	Funds	Funds	Total
	£	£	£	£	£	£
Income from:
Donations and legacies	532,627	6,061	538,688	481,877	20,601	502,478
Charitable activities (note 3)	23,590	9,717	33,307	12,096	30,893	43,089
Other trading activities	47,600	-	47,600	42,900	-	42,900
Investments	2,257	-	2,257	440	-	440
Other	1,808	-	1,808	330	-	330
Total income	607,882	15,778	623,660	537,743	51,494	589,237
Expenditure on:
Charitable Activities (note 5b)
Ministry/Worship	347,469	-	347,469	273,294	-	273,294
Mission	308,965	4,895	313,860	312,433	17,840	330,273
Purley Cross Centre	4,712	22,664	27,376	-	25,442	25,442
Total expenditure	661,146	27,559	688,705	585,727	43,282	629,009
Net (expenditure)/income	(53,264)	(11,781)	(65,045)	(47,984)	8,212	(39,772)
Transfers	-	-	-	-	-	-
Net movement in funds	(53,264)	(11,781)	(65,045)	(47,984)	8,212	(39,772)
Reconciliation of funds
Fund balances brought forward	2,402,211	28,478	2,430,689	2,450,195	20,266	2,470,461
Fund balances carried forward	2,348,947	16,697	2,365,644	2,402,211	28,478	2,430,689

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PURLEY BAPTIST CHURCH

BALANCE SHEET

AS AT 31 DECEMBER 2023

Note Fixed assets Tangible assets 8b Current assets Debtors 9b Cash at bank and in hand Current liabilities Creditors: Amounts falling due in less 10b than one year Net current assets Total assets less current liabilities Creditors: Amounts falling due after more 11 than one year Net assets Represented by Restricted Funds 13b Unrestricted Funds 12b	2023 £ £ 2,139,552 163,956 97,201 261,157 35,065 226,092 2,365,644 - 2,365,644 16,697 2,348,947 2,365,644	2022 £ £ 2,124,929 338,219 221,927 560,146 67,386 492,760 2,617,689 ( 187,000) 2,430,689 28,478 2,402,211 2,430,689

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David Clarke Director

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PURLEY BAPTIST CHURCH

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

1. Accounting policies

1.1 Accounting convention

The church is a company limited by guarantee with registered office at Banstead Road, Purley, Surrey, CR8 3EA and incorporated in England. It is a public benefit entity.

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with Financial Reporting Standard 102 as amended by Update bulletin 1, Financial Reporting Standard 102 and the Companies Act 2006. The financial statements are prepared in pound sterling rounded to the nearest pound. The financial statements are prepared under the historical cost convention and on the going concern basis. There are no material uncertainties about the church’s ability to continue in operation.

1.2 Properties

Freehold properties have been included at valuation at the date of gift from the unincorporated charity with subsequent improvements at cost. The formal title to the church building is held by Purley Baptist Church Land Trust, of which the Church is a corporate trustee. The Church has the beneficial interest in the property and it is therefore shown in these accounts.

The Leadership Team consider that the residual value of the freehold land is sufficiently higher than the carrying values of the freehold property to render both the depreciation charge for the year and the accumulated depreciation immaterial. No depreciation has therefore been charged on freehold property.

1.3 Other assets

Other assets are included at valuation on date of gift or cost. Depreciation is calculated to write off the cost of fixed assets over their estimated useful lives by equal instalments with a full annual charge in the period of acquisition. Assets under £500 are not capitalised. The principal useful economic lives applied in calculating depreciation are as follows:

Church furniture Over 6 years Office equipment Over 3 and 4 years Sound and other equipment Over 3 years

1.4 Donations, gifts and legacies

These are accounted for when the Church is certain of receipt and the amount can be measured with reasonable accuracy.

1.5 Investment income

This represents bank interest and is accounted for on a receivable basis.

1.6 Grants

Grants payable are included once the expenditure has been approved by the Leadership Team.

Page 13

PURLEY BAPTIST CHURCH

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023 (continued)

1.7 Expenditure

These are recognised when the expenditure is incurred. All costs have been directly attributed to one of the functional classifications in the SOFA. Support costs have been allocated one third to Ministry and two thirds to Mission.

1.8 Governance costs

These comprise expenditure relating to compliance with constitutional and statutory requirements.

1.9 Pension costs

Pension contributions into defined contribution schemes are accounted for when they fall due. The pension cost for the defined benefit scheme is the movement in the discounted provision for the year.

1.10 Creditors and provisions

Creditors and provisions are recognised where the church has a present obligation arising from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are recognised at their settlement amount.

1.11 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 using amortised cost on the effective interest rate method.

1.12 Consolidation

The results of the company, 58:12, for the year ended 31 December 2023 have been consolidated on a line by line basis. The specific purpose of the company is to promote urban regeneration in Purley. The company is limited by guarantee and under the control of the church.(see note 16)

2. Net income

This is stated after charging:

This is stated after charging:
Audit fee Depreciation Income from charitable activities Purley Cross Centre Purley Counselling Service Rent of manses Church events	2023 £	2022 £
	9,700 8,960 13,945 14,688 2023 2022 £ £ 10,017 30,893 17,716 8,655 47,600 42,900 5,574 3,541	8,960 14,688

3. Income from charitable activities

Page 14

PURLEY BAPTIST CHURCH

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023 (continued)

80,907 85,989

4. Staff costs

Staff costs
Salaries Employer’s National Insurance Employer’s contribution to defined contribution pension schemes Interest cost and change to defined benefit scheme liability	2023 2022 £ £ 380,028 320,500 31,734 22,169 30,757 28,932 - (24,986) 442,519 346,615

The average monthly number of employees during the year were as follows:
	2023	2022
Ministry	6	4
Administration	4	4
Facilities	2	2
Purley Cross Centre	1	1
	13	11

No employees earned over £60,000 in the year. Details of trustees’ remuneration are disclosed in note 15. The trustees did not receive any reimbursed expenses.

5a. Charitable Activities - Group

Ministry/worship Mission Purley Cross Centre Charitable Activities - Church Ministry/worship Mission Purley Cross Centre Support costs – Church Administration Governance – auditor’s remuneration Facilities	Direct Grant Support Costs Funding Costs £ £ £ 248,157 - 99,312 47,312 76,626 202,002 27,376 - - 322,845 76,626 301,314 Direct Grant Support Costs Funding Costs £ £ £ 248,157 - 99,312 38,612 76,626 198,622 27,376 - -	Direct Grant Support Costs Funding Costs £ £ £ 248,157 - 99,312 47,312 76,626 202,002 27,376 - - 322,845 76,626 301,314 Direct Grant Support Costs Funding Costs £ £ £ 248,157 - 99,312 38,612 76,626 198,622 27,376 - -	Direct Grant Support Costs Funding Costs £ £ £ 248,157 - 99,312 47,312 76,626 202,002 27,376 - - 322,845 76,626 301,314 Direct Grant Support Costs Funding Costs £ £ £ 248,157 - 99,312 38,612 76,626 198,622 27,376 - -	Total 2023 £ 347,469 325,940 27,376 700,785 Total 2023 £ 347,469 313,860 27,376	Total 2022 £ 273,293 369,509 25,442 668,244 Total 2022 £ 273,293 330,274 25,442
	314,145 76,626 297,934 Ministry Mission £ £ 66,650 133,299 2,107 4,213 30,555 61,110 99,312 198,622	76,626	297,934	688,705	629,009 2022 £ 170,842 5,820 119,539 296,201
				2023 £ 199,949 6,320 91,665 297,934

5b. Charitable Activities - Church

6. Support costs – Church

Page 15

PURLEY BAPTIST CHURCH

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023 (continued)

Support costs have been allocated one third to Ministry and two thirds to Mission. 7. Grants payable

Total Total Unrestricted Restricted 2023 2022 £ £ £ £ Mission and relief Baptist Union Home Mission Fund 6,438 - 6,438 12,000 Baptist Missionary Society 19,391 - 19,391 23,000 International Needs 910 1,096 2,006 - BMS Ukraine - - - 745 Embrace the Middle East - - - 1,202 Other 1,645 - 1,645 779 Individuals – Hardship fund - 3,780 3,780 4,150 28,384 4,876 33,260 41,876 Missionary Support Wycliffe Bible Translators 31,361 - 31,361 29,005 Mission Aviation Fellowship 6,005 - 6,005 5,705 Individuals 6,000 - 6,000 14,406 43,366 - 43,366 49,116 Social Action Purley & Kenley Churches Together Food Hub - - - 871 Purley Churches Christmas projects - - - 6,863 Children in Need - - - - Total grants - group 71,750 4,876 76,626 98,726 Grant from PBC to 58:12 - - - - Total grants – church 71,750 4,876 76,626 98,726 8a Tangible assets – Group Freehold Church & Office, Qube Total Properties Sound Equip & PCC Equip £ £ £ £ Cost or valuation At 1 January 2023 5,367,850 42,547 55,987 5,466,384 Additions - 22,854 5,714 28,568 Disposals - ( 395) ( -) ( 395) At 31 December 2023 5,367,850 65,006 61,701 5,494,557 Depreciation At 1 January 2023 13,628 31,157 38,946 83,731 Charge for the year - 6,920 7,025 13,945 Released on disposal - ( 395) ( -) ( 395) At 31 December 2023 13,628 37,682 45,971 97,281 Net book value At 31 December 2023 5,354,222 27,324 15,730 5,397,276 At 31 December 2022 5,354,222 11,390 17,041 5,382,653	Total Total Unrestricted Restricted 2023 2022 £ £ £ £ Mission and relief Baptist Union Home Mission Fund 6,438 - 6,438 12,000 Baptist Missionary Society 19,391 - 19,391 23,000 International Needs 910 1,096 2,006 - BMS Ukraine - - - 745 Embrace the Middle East - - - 1,202 Other 1,645 - 1,645 779 Individuals – Hardship fund - 3,780 3,780 4,150 28,384 4,876 33,260 41,876 Missionary Support Wycliffe Bible Translators 31,361 - 31,361 29,005 Mission Aviation Fellowship 6,005 - 6,005 5,705 Individuals 6,000 - 6,000 14,406 43,366 - 43,366 49,116 Social Action Purley & Kenley Churches Together Food Hub - - - 871 Purley Churches Christmas projects - - - 6,863 Children in Need - - - - Total grants - group 71,750 4,876 76,626 98,726 Grant from PBC to 58:12 - - - - Total grants – church 71,750 4,876 76,626 98,726 8a Tangible assets – Group Freehold Church & Office, Qube Total Properties Sound Equip & PCC Equip £ £ £ £ Cost or valuation At 1 January 2023 5,367,850 42,547 55,987 5,466,384 Additions - 22,854 5,714 28,568 Disposals - ( 395) ( -) ( 395) At 31 December 2023 5,367,850 65,006 61,701 5,494,557 Depreciation At 1 January 2023 13,628 31,157 38,946 83,731 Charge for the year - 6,920 7,025 13,945 Released on disposal - ( 395) ( -) ( 395) At 31 December 2023 13,628 37,682 45,971 97,281 Net book value At 31 December 2023 5,354,222 27,324 15,730 5,397,276 At 31 December 2022 5,354,222 11,390 17,041 5,382,653	Total Total Unrestricted Restricted 2023 2022 £ £ £ £ Mission and relief Baptist Union Home Mission Fund 6,438 - 6,438 12,000 Baptist Missionary Society 19,391 - 19,391 23,000 International Needs 910 1,096 2,006 - BMS Ukraine - - - 745 Embrace the Middle East - - - 1,202 Other 1,645 - 1,645 779 Individuals – Hardship fund - 3,780 3,780 4,150 28,384 4,876 33,260 41,876 Missionary Support Wycliffe Bible Translators 31,361 - 31,361 29,005 Mission Aviation Fellowship 6,005 - 6,005 5,705 Individuals 6,000 - 6,000 14,406 43,366 - 43,366 49,116 Social Action Purley & Kenley Churches Together Food Hub - - - 871 Purley Churches Christmas projects - - - 6,863 Children in Need - - - - Total grants - group 71,750 4,876 76,626 98,726 Grant from PBC to 58:12 - - - - Total grants – church 71,750 4,876 76,626 98,726 8a Tangible assets – Group Freehold Church & Office, Qube Total Properties Sound Equip & PCC Equip £ £ £ £ Cost or valuation At 1 January 2023 5,367,850 42,547 55,987 5,466,384 Additions - 22,854 5,714 28,568 Disposals - ( 395) ( -) ( 395) At 31 December 2023 5,367,850 65,006 61,701 5,494,557 Depreciation At 1 January 2023 13,628 31,157 38,946 83,731 Charge for the year - 6,920 7,025 13,945 Released on disposal - ( 395) ( -) ( 395) At 31 December 2023 13,628 37,682 45,971 97,281 Net book value At 31 December 2023 5,354,222 27,324 15,730 5,397,276 At 31 December 2022 5,354,222 11,390 17,041 5,382,653	Total Total Unrestricted Restricted 2023 2022 £ £ £ £ Mission and relief Baptist Union Home Mission Fund 6,438 - 6,438 12,000 Baptist Missionary Society 19,391 - 19,391 23,000 International Needs 910 1,096 2,006 - BMS Ukraine - - - 745 Embrace the Middle East - - - 1,202 Other 1,645 - 1,645 779 Individuals – Hardship fund - 3,780 3,780 4,150 28,384 4,876 33,260 41,876 Missionary Support Wycliffe Bible Translators 31,361 - 31,361 29,005 Mission Aviation Fellowship 6,005 - 6,005 5,705 Individuals 6,000 - 6,000 14,406 43,366 - 43,366 49,116 Social Action Purley & Kenley Churches Together Food Hub - - - 871 Purley Churches Christmas projects - - - 6,863 Children in Need - - - - Total grants - group 71,750 4,876 76,626 98,726 Grant from PBC to 58:12 - - - - Total grants – church 71,750 4,876 76,626 98,726 8a Tangible assets – Group Freehold Church & Office, Qube Total Properties Sound Equip & PCC Equip £ £ £ £ Cost or valuation At 1 January 2023 5,367,850 42,547 55,987 5,466,384 Additions - 22,854 5,714 28,568 Disposals - ( 395) ( -) ( 395) At 31 December 2023 5,367,850 65,006 61,701 5,494,557 Depreciation At 1 January 2023 13,628 31,157 38,946 83,731 Charge for the year - 6,920 7,025 13,945 Released on disposal - ( 395) ( -) ( 395) At 31 December 2023 13,628 37,682 45,971 97,281 Net book value At 31 December 2023 5,354,222 27,324 15,730 5,397,276 At 31 December 2022 5,354,222 11,390 17,041 5,382,653	Total 2023 £ 6,438 19,391 2,006 - - 1,645 3,780	Total 2023 £ 6,438 19,391 2,006 - - 1,645 3,780
	28,384 31,361 6,005 6,000 43,366 - - -	4,876 - - - - - - -		33,260 31,361 6,005 6,000 43,366 - - -
		4,876		76,626
5,367,850	65,006		61,701

13,628 - - 13,628 5,354,222 5,354,222	31,157 6,920 ( 395) 37,682 27,324 11,390		38,946 7,025 ( -) 45,971 15,730 17,041		83,731 13,945 ( 395) 97,281 5,397,276 5,382,653

Page 16

PURLEY BAPTIST CHURCH

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023 (continued)

8b Tangible assets – Church

Tangible assets – Church
Cost At 1 January 2023 Additions Disposals At 31 December 2023 Depreciation At 1 January 2023 Charge for the year Released on disposal At 31 December 2023 Net book value At 31 December 2023 At 31 December 2022	Freehold Church & Office, Qube Properties Sound Equip & PCC Equip £ £ £ 2,110,126 42,547 55,987 - 22,854 5,714 - ( 395) ( -) ( 2,110,126 65,006 61,701						Total £ 2,208,660 28,568 395) 2,236,833


			13,628 - -		31,157 6,920 ( 395)	38,946 7,025 ( -)	83,731 13,945 395) 97,281 2,139,552 2,124,929
		13,628 2,096,498	13,628	37,682		45,971
				27,324		15,730
		2,096,498			11,390	17,041

The residential properties owned by the church are included in freehold properties at historical value of £900,000. The current market value of these properties is around £2,300,000.

9a. Debtors - Group

Debtors - Group
Gift aid tax recoverable Other debtors Prepayments Debtors – Church Gift aid tax recoverable Other debtors (including intercompany loan see note 15) Prepayments	2023 £ 159,229 6,041 9,935 175,205 2023 £ 144,800 9,221 9,935	2022 £ 115,229 236,157 9,262 360,648 2022 £ 106,800 222,157 9,262
	163,956	338,219

9b. Debtors – Church

Page 17

PURLEY BAPTIST CHURCH

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023 (continued)

10a. Creditors: Amounts falling due in less than one year - Group

LBPB loans Other creditors (including £147,000 other loans see text in note 11) Accruals	2023 £ - 170,269 14,996 185,265	2022 £ 280,000 184,147 36,223 500,370

10b. Creditors: Amounts falling due in less than one year – Church

Other creditors LBPB loans Accruals	2023 £ 23,269 - 11,796 35,065	2022 £ 17,147 30,000 20,239 67,386

11. Creditors: Amounts falling due in more than one year – Group

LBPB loans	2023 £ -	2022 £ 187,000

The loans from the London Baptist Property Board (LBPB loans) were secured over some of the freehold property of the church and bore interest at 3.2%. Interest of £7,961 (2022: £30,281) was paid on these loans during the year to the point that they were repaid. The total other loans of £147,000 represent unsecured interest free loans from church members and friends.

Page 18

PURLEY BAPTIST CHURCH

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023 (continued)

12a. Unrestricted Funds – Group

Balance at Income Expenditure Transfers Balance at 1 January 23 31 December 23 £ £ £ £ £ General Fund Church 2,402,211 607,882 (661,146) - 2,348,947 General Fund 58:12 2,384,132 43,157 ( 10,390) - 2,416,899 4,786,343 651,039 (671,536) - 4,765,846 Balance at Income Expenditure Transfers Balance at 1 January 22 31 December 22 £ £ £ £ £ General Fund Church 2,450,195 537,743 (585,727) - 2,402,211 General Fund 58:12 2,320,288 101,509 ( 37,665) - 2,384,132 4,770,483 639,252 (623,392) - 4,786,343 12b. Unrestricted Funds – Church Balance at Income Expenditure Transfers Balance at 1 January 23 31 December 23 £ £ £ £ £ General – Church 272,489 584,797 (629,192) (22,181) 205,913 General – Fixed assets 2,124,929 - - 14,623 2,139,552 General – Other activities 4,793 23,085 ( 31,954) 7,558 3,482 General Fund Total 2,402,211 607,882 (661,146) - 2,348,947 Balance at Income Expenditure Transfers Balance at 1 January 22 31 December 22 £ £ £ £ £ General – Church 311,117 523,251 (566,457) 4,578 272,489 General – Fixed assets 2,121,766 - - 3,163 2,124,929 General – Other activities 17,312 14,492 ( 19,270) ( 7,741) 4,793 General Fund Total 2,450,195 537,743 (585,727) - 2,402,211	Balance at Income Expenditure Transfers Balance at 1 January 23 31 December 23 £ £ £ £ £ General Fund Church 2,402,211 607,882 (661,146) - 2,348,947 General Fund 58:12 2,384,132 43,157 ( 10,390) - 2,416,899 4,786,343 651,039 (671,536) - 4,765,846 Balance at Income Expenditure Transfers Balance at 1 January 22 31 December 22 £ £ £ £ £ General Fund Church 2,450,195 537,743 (585,727) - 2,402,211 General Fund 58:12 2,320,288 101,509 ( 37,665) - 2,384,132 4,770,483 639,252 (623,392) - 4,786,343 12b. Unrestricted Funds – Church Balance at Income Expenditure Transfers Balance at 1 January 23 31 December 23 £ £ £ £ £ General – Church 272,489 584,797 (629,192) (22,181) 205,913 General – Fixed assets 2,124,929 - - 14,623 2,139,552 General – Other activities 4,793 23,085 ( 31,954) 7,558 3,482 General Fund Total 2,402,211 607,882 (661,146) - 2,348,947 Balance at Income Expenditure Transfers Balance at 1 January 22 31 December 22 £ £ £ £ £ General – Church 311,117 523,251 (566,457) 4,578 272,489 General – Fixed assets 2,121,766 - - 3,163 2,124,929 General – Other activities 17,312 14,492 ( 19,270) ( 7,741) 4,793 General Fund Total 2,450,195 537,743 (585,727) - 2,402,211	Balance at Income Expenditure Transfers Balance at 1 January 23 31 December 23 £ £ £ £ £ General Fund Church 2,402,211 607,882 (661,146) - 2,348,947 General Fund 58:12 2,384,132 43,157 ( 10,390) - 2,416,899 4,786,343 651,039 (671,536) - 4,765,846 Balance at Income Expenditure Transfers Balance at 1 January 22 31 December 22 £ £ £ £ £ General Fund Church 2,450,195 537,743 (585,727) - 2,402,211 General Fund 58:12 2,320,288 101,509 ( 37,665) - 2,384,132 4,770,483 639,252 (623,392) - 4,786,343 12b. Unrestricted Funds – Church Balance at Income Expenditure Transfers Balance at 1 January 23 31 December 23 £ £ £ £ £ General – Church 272,489 584,797 (629,192) (22,181) 205,913 General – Fixed assets 2,124,929 - - 14,623 2,139,552 General – Other activities 4,793 23,085 ( 31,954) 7,558 3,482 General Fund Total 2,402,211 607,882 (661,146) - 2,348,947 Balance at Income Expenditure Transfers Balance at 1 January 22 31 December 22 £ £ £ £ £ General – Church 311,117 523,251 (566,457) 4,578 272,489 General – Fixed assets 2,121,766 - - 3,163 2,124,929 General – Other activities 17,312 14,492 ( 19,270) ( 7,741) 4,793 General Fund Total 2,450,195 537,743 (585,727) - 2,402,211	Balance at Income Expenditure Transfers Balance at 1 January 23 31 December 23 £ £ £ £ £ General Fund Church 2,402,211 607,882 (661,146) - 2,348,947 General Fund 58:12 2,384,132 43,157 ( 10,390) - 2,416,899 4,786,343 651,039 (671,536) - 4,765,846 Balance at Income Expenditure Transfers Balance at 1 January 22 31 December 22 £ £ £ £ £ General Fund Church 2,450,195 537,743 (585,727) - 2,402,211 General Fund 58:12 2,320,288 101,509 ( 37,665) - 2,384,132 4,770,483 639,252 (623,392) - 4,786,343 12b. Unrestricted Funds – Church Balance at Income Expenditure Transfers Balance at 1 January 23 31 December 23 £ £ £ £ £ General – Church 272,489 584,797 (629,192) (22,181) 205,913 General – Fixed assets 2,124,929 - - 14,623 2,139,552 General – Other activities 4,793 23,085 ( 31,954) 7,558 3,482 General Fund Total 2,402,211 607,882 (661,146) - 2,348,947 Balance at Income Expenditure Transfers Balance at 1 January 22 31 December 22 £ £ £ £ £ General – Church 311,117 523,251 (566,457) 4,578 272,489 General – Fixed assets 2,121,766 - - 3,163 2,124,929 General – Other activities 17,312 14,492 ( 19,270) ( 7,741) 4,793 General Fund Total 2,450,195 537,743 (585,727) - 2,402,211	Balance at Income Expenditure Transfers Balance at 1 January 23 31 December 23 £ £ £ £ £ General Fund Church 2,402,211 607,882 (661,146) - 2,348,947 General Fund 58:12 2,384,132 43,157 ( 10,390) - 2,416,899 4,786,343 651,039 (671,536) - 4,765,846 Balance at Income Expenditure Transfers Balance at 1 January 22 31 December 22 £ £ £ £ £ General Fund Church 2,450,195 537,743 (585,727) - 2,402,211 General Fund 58:12 2,320,288 101,509 ( 37,665) - 2,384,132 4,770,483 639,252 (623,392) - 4,786,343 12b. Unrestricted Funds – Church Balance at Income Expenditure Transfers Balance at 1 January 23 31 December 23 £ £ £ £ £ General – Church 272,489 584,797 (629,192) (22,181) 205,913 General – Fixed assets 2,124,929 - - 14,623 2,139,552 General – Other activities 4,793 23,085 ( 31,954) 7,558 3,482 General Fund Total 2,402,211 607,882 (661,146) - 2,348,947 Balance at Income Expenditure Transfers Balance at 1 January 22 31 December 22 £ £ £ £ £ General – Church 311,117 523,251 (566,457) 4,578 272,489 General – Fixed assets 2,121,766 - - 3,163 2,124,929 General – Other activities 17,312 14,492 ( 19,270) ( 7,741) 4,793 General Fund Total 2,450,195 537,743 (585,727) - 2,402,211	Balance at Income Expenditure Transfers Balance at 1 January 23 31 December 23 £ £ £ £ £ General Fund Church 2,402,211 607,882 (661,146) - 2,348,947 General Fund 58:12 2,384,132 43,157 ( 10,390) - 2,416,899 4,786,343 651,039 (671,536) - 4,765,846 Balance at Income Expenditure Transfers Balance at 1 January 22 31 December 22 £ £ £ £ £ General Fund Church 2,450,195 537,743 (585,727) - 2,402,211 General Fund 58:12 2,320,288 101,509 ( 37,665) - 2,384,132 4,770,483 639,252 (623,392) - 4,786,343 12b. Unrestricted Funds – Church Balance at Income Expenditure Transfers Balance at 1 January 23 31 December 23 £ £ £ £ £ General – Church 272,489 584,797 (629,192) (22,181) 205,913 General – Fixed assets 2,124,929 - - 14,623 2,139,552 General – Other activities 4,793 23,085 ( 31,954) 7,558 3,482 General Fund Total 2,402,211 607,882 (661,146) - 2,348,947 Balance at Income Expenditure Transfers Balance at 1 January 22 31 December 22 £ £ £ £ £ General – Church 311,117 523,251 (566,457) 4,578 272,489 General – Fixed assets 2,121,766 - - 3,163 2,124,929 General – Other activities 17,312 14,492 ( 19,270) ( 7,741) 4,793 General Fund Total 2,450,195 537,743 (585,727) - 2,402,211
	2,121,766 17,312 2,450,195	- 14,492 537,743 (	- ( 19,270) 585,727)		3,163 2,124,929 ( 7,741) 4,793 - 2,402,211

The other organisations represent balances held in respect of Bods and Tods, Ladies Breakfast, Aperture, Purley Counselling Service and Medical Mission.

Page 19

PURLEY BAPTIST CHURCH

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023 (continued)

13a. Restricted Funds - Group

Restricted Funds - Group
	Balance at	Income	Expenditure	Transfers	Balance at
	1 January 23				31 December 23
	£	£	£	£	£
58:12 Development	857,502	25,000	( 1,690)	-	880,812
Purley Cross Centre	12,947	9,717	( 22,664)	-	-
Special objects	15,531	6,061	( 4,895)	-	16,697
	885,980	40,778	( 29,249)	-	897,509
	Balance at	Income	Expenditure	Transfers	Balance at
	1 January 22				31 December 22
	£	£	£	£	£
58:12 Development	859,072	-	( 1,570)	-	857,502
Purley Cross Centre	7,496	30,893	( 25,442)	-	12,947
Special objects	12,770	20,601	( 17,840)	-	15,531
	879,338	51,494	( 44,852)	-	885,980
Restricted Funds - Church
	Balance at	Income	Expenditure	Transfers	Balance at
	1 January 23				31 December 23
	£	£	£	£	£
Special objects	15,531	6,061	(4,895)	-	16,697
Purley Cross Centre	12,947	9,717	(22,664)	-	-
	28,478	15,778	(27,559)	-	16,697
	Balance at	Income	Expenditure	Transfers	Balance at
	1 January 22				31 December 22
	£	£	£	£	£
Special objects	12,770	20,601	(17,840)	-	15,531
Purley Cross Centre	7,496	30,893	(25,442)	-	12,947
	20,266	51,494	(43,282)	-	28,478

13b. Restricted Funds - Church

The Special Objects Fund receives donations earmarked for specific purposes, including special offerings made during the year. These amounts are then remitted to the appropriate beneficiaries.

The Purley Cross Centre Fund received grants and donations for specific purposes in the year. The income from the offices and the remaining costs of the Purley Cross Centre have been borne by the General Fund and are shown in the Statement of Financial Activities on page 7.

Page 20

PURLEY BAPTIST CHURCH

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023 (continued)

14a. Analysis of net assets between funds - Group

Fixed Assets 2,139,552 - 2,418,253 839,471	Net Current Long Inter Assets Liabilities Fund accounts £ £ £ 209,395 - - 16,697 - - (1,354) - - 41,341 - -	Net Current Long Inter Assets Liabilities Fund accounts £ £ £ 209,395 - - 16,697 - - (1,354) - - 41,341 - -	Net Current Long Inter Assets Liabilities Fund accounts £ £ £ 209,395 - - 16,697 - - (1,354) - - 41,341 - -	Net Current Long Inter Assets Liabilities Fund accounts £ £ £ 209,395 - - 16,697 - - (1,354) - - 41,341 - -	Net Current Long Inter Assets Liabilities Fund accounts £ £ £ 209,395 - - 16,697 - - (1,354) - - 41,341 - -
5,397,276		266,079	-	-

Fixed Assets 2,124,929 - - 2,418,253 839,471	Net Current Long Inter Assets Liabilities Fund accounts £ £ £ 247,282 (187,000) 217,000 12,947 - - 15,531 - - 182,879 - (217,000) 18,031 - -
5,382,653		476,670	(187,000)	-
- Church		Fixed Assets £ 2,139,552 - 2,139,552 -	Current Assets and £ 240,978 3,482 244,460 16,697	Liabilities provisions £ (35,065) - (35,065) -

		2,139,552	261,157		(35,065)
		Fixed Assets £	Current Assets and £	Liabilities provisions £
		2,124,929 - 2,124,929 - - 2,124,929	526,875 4,793 531,668 12,947 15,531 560,146	(314,386) - (314,386) - - (314,386)

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PURLEY BAPTIST CHURCH

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023 (continued)

15 Related party transactions

Trustees remuneration

The following trustees received remuneration under the authority of the Memorandum & Articles of Association::

Association::	Association::	Association::
Remuneration Pension Contributions £ £ James Collins Senior Minister 39,056 4,393 Tim Allen Assistant Minister 55,767 4,838 Chris Roe Worship Pastor 53,800 4,183
	53,800	4,183

The Senior Minister was also provided with accommodation. Benefits are accruing to three trustees under money purchase pension schemes.

Employee benefits of £178,781 (2022:£147,194) were received by key management personnel in the year.

16 Subsidiary

The subsidiary, 58:12 has company number 4832161, charity number 1101446 and registered office of Banstead Road, Purley, Surrey, CR8 3EA. The church has full control of the subsidiary. The subsidiary has been included in the consolidated accounts on a line by line basis. A summary of its results for the year is as follows:

Assets Liabilities Total funds Income Expenditure Surplus	2023 £ 3,451,091 153,380 3,297,711 68,157 12,080 56,077	2022 £ 3,891,618 649,984 3,241,634 101,509 39,235 62,274

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