PURLEY BAPTIST CHURCH Building authentic, courageousi generous Christian community ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Company number: 07033844 Charrty number: 1132285
Contents Page Leadership Team report Auditorfs report Statement of Financlal Activities Balance Sheet Cash Flow statement Notes to the financial statements 10 11-17
PURLEY BAPTisf CHURCH IEADERSHIP TEAM REPORT The Leadershlp Team of the church present a combined Trustees, and Dlrectors, Report and Flnancial Statement5 for the year ended 31 December 2024. The financial staternents comply with the Charitie5 Act 2022, the Companies Act 2006, the Memorandum and Articles of Association, and Accountlng and Reporting by Charities: Statement of Recommended Practice applltable to charitie5 preparing thelr accounts in accordance with Flnancial Reportlng Standard 102. Reference and admlnistrative informatlon Trustees ond directors (Key monagementpersonnelj TIM Allen Michele Balley (resigned 14 May 25) David Clarke James Colllns Jenny Giles Helen Harris Olumide Lala Ben Quartey-Papafio Davld Colpus {reslgned 14 May 25} Llnda Davies Chris Roe (resigned 8 November 2024) Michael Omoniyi (appolnted 14 May 25} Advlsers: Auditors.. Sollcitors: Bankers; Shaw Glbbs (AudFt) Llmited. 264 Banbury Road, Oxford. OX2 70Y Streeter Marshall, 12 Purley Parade. High StreeL Purley. CR8 2AB HSBC Bank plc, 54 Woodcote Road, WallinBton, SM6 ONJ Structurep governance and management Purley Baptist Church (PBC> is a company limited by guarantee and a reglstered charity, governed by Its Memorandurn and Articles of Association. The Leadershlp Team (LT} are the directors and trustees of the charltable company and Is comprlsed of stipendlary mlnlslers who serve durln8 their time in office and 'lay' leaders who are elected by the church membets to serve for up to two perlods of 5 years, The LT is responsible for the oversight of the church and strategic plannlng. It meets regularly for prayer and bu51ness, Trainlng and inductlon of new LT members Is Incorporated in these meetings. Co-ordlnafors (prevlously, Heads of Department) oversee partlcular areas of church ministry and are accountable to the LT. Majordeclslons are taken to a meetlng of church members; these are heka at least fourtlmes a year. The Church has a subsldlary company, 58.12 which was formed to carry out the proposed development of the Island slte in Purley. The chuych is also the trustee Df the Purley Baptist Church Land Trust which hDld5 the tltle to the church property on trust for the church and the old 'excepted' chartty. Purley Baptist Church. Remuneratlon of key mnnagemént personnel The non-mlnlsterlal trusteesglve of theirtime freely and received no remuneratlon in the year. The detall of ministeria I pay and related party transactions are sholvn in note 15 to the accounts. The pay of the ministers is revlewed annually and normally increased with referen to Increase in the cost of living and the recommendatlon of the Baptist Union. Qbjectlve5 and activitles The maln 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 "evangelicaf and In particular those set out in the Articles of Falth. The other objerts are the advancement of education. citizenship and community development and the relief of poverty. Page 1
PURLEY BAPTIST CHURCH LEADERSHIP TEAM REPORT lcontinued) The church's vision statement is: 'building authentic, courageous. generous Christian communlty., The church seeks to bring about transfomiation in the lives of individuals as they come to know Jesus Christ and transformation in the communlty through the provision of facllities and activities. The main source thatthe church suppliesto advance itsobjectives ispeople-both paid staff and volunteer5. Around half of annual expenditure 15 on staff costs. We are grateful to God for the rnany 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 Cornmission's guidan on publlc benefit when conslderlng the actlvitie5 in the period. Grunt moklng policy There are established processes by whlch the church 8ives money to other organisatlons and indlvlduals. Mlsslon partners are supported vla 8rants to thelr sending organi5ations. Funds are raised for these by means of occasional special offerings and other fund-raising events. Donatlons are also made to other causes as needs come to our attention and funds are available. Achlevements and perfomian¢e God has been very gracious to OUT church famlly throughout 2024. Our morning In-person congregations now exceed pre-covld levels whilst the 11.15 am service continues to be made available as a Ilve stream or as a recordlng vla our YouTube channel attracting around 200 hits a week. We have been delighted to see substantial numbers of young adults attending wotship serViS and making an energetic contribution to ourchurth family. We have also witnessed a sharp increase in the number of baptisms for which we glve thanks to our loving Father God, The church premlse5 contlnue to be in use an almost every day of the year. We have welcomed hundreds of local residents into our bulldlngs to enjoy a wlde range of church and community activftles. These have Included.. Jigsaws, our bl-monthly servlce for adults wlth leamlng disabilities and their carers,: Cameo, our mid-week servlce for the elderly and Bods and rods, a weekly baby and toddlergroup. Life Groups met during the week to provlde fellowship and teaching. Church members are encouraged to attend our monthly 'Heartbeat' prayer meetings. Church members, meetlngs continue to be 'hybrid' (available both in-person and on-line); we continue to enjoy greater particlpatlon than our pre-lockdown 'in-person onlv meetings. Amldst economic conditions that have cont5nued to be challenging proactlve pastoral support has been provlded to members who have fad dlfficulties durlng the year. We have continued to use the Hardship Fund to help those faclng flnancial strain. We also contlnue to run a counselling service which provlde5 afftirdablei professlonal counselllng to church members and those in the Communlty. PBC contlnues to offer a substantial pro8ramme of activitS aimed at helping people facing hardship /deprlvatlon. The Purley CY035 Centre offers various serv1$ and mifiislrle& In cooperatlon wlth other local chvrches, we continue to offer a suite of CAP {Chrlstian5 Agaln5t Poverty} services which are very popularand have helped many people. Church members have worked wEth 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 notto be OK.. ChIldn.5 and youth rninistry continues to be a very high priority. We have continued to offer varlous age groups runnlng during the 11:15am service. In additlon, we now offer children's ministry during the 9.30am and 3.00pm servlce5. In partnershlp with the church, the Scouts groups have continued to meet and take part in our regular Parade services. The church also runs 'Super saturda,, a group etIng monthly with lots of activitSes fof children and familles on Saturday momings. Page 2
PURIEY BAPTisf CHURCH LEADERSHIP TEAM REPORT (contlnued) Achievements and perfomiance (cont¢nued) There has been slow progress with 58.12 development project which has effectively paused as thè contractor revlews the financial viabllltyof the scheme and develops new plans accordlngly. Phase l of the project (compri51ng affordable houslng units on the Banstead Road) has now been completed but we await the handover of these units to Southern Housing. We have formed various teams to prepare for and oversee Phase 2 which includes the construction of our new church and community facilities. They wlll focus on protecting the church's Interests and beglnning to plan for life In our new premises although in view of the reas5e55ment taking pla their work has also paused. These teams nclude sorne individuals with 518nificant relevant expertlse. Flnancial review Tlie church continues to be funded mainly by donations from members. A surplus for the year was recorded mainly due to a legacy that was accrued in the year. Reserves policy The total funds OF the church at the end of the year were £2,548,615. £2,129,593 Df thls Is Invested in fixed assets, malnly property. £16,454 is held in restricted fund5. The Leadership Team has established a policy whereby the unrestricted funds not committed or Invested in tangible fixed assets ("tFLe free reserve5°J held by the church should be around 3 months essentlal expendlture plus a provlsion for posslble fluttuations in income. This equates to approximately £250,IJOO. The free reserves at 31 December 2024 were £398,327. Rlsks and uncertolntles Our maln flnanclal rSsk is that donations and giving would be at the level we anticlpate. This risk Is mltlgated by the level of reserves held and, in the medlum temi, by the letting out of two manse5 that we own but which are not occupled by mlnlsters. The church has identified that a lack of voluntsers or sultable stsff are also 5ignlflcant rlsks a5 the church would be unable to contlnue its current level of actlvlty. These risks are managed by publicising volunteer opportunitles in a variety of different ways and taking care over the recruitment of staff so they are a good fitwith the church, Work among children, young petsple and vulnerable adults means there Is a risk of accusations being made agaln5t staff orvolunteers. 5afeguardSng polities and procedures are in place to reduce this rlsl togèther with ongolng tralnlng. There are a number of rlsks associated with the limitations of our current facllltle5 which may constrain our growth. We are currently proposing to Use our building more intenslvely, for example, we have Introduced a third service on a Sunday. We are also planning to develop our site. There are risks assoclated with this Including the potential risk to the flnancial viability of the scheme following intreases in the price of bulldlng materials and 3550clated costs and uncertalnty about the revenue the developer would receive from the sale of flats. These risks a re belng borne by the developer but there remains the residual rislc 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 bv Using a flrm of solicFtors that have expertise in this area. Plans for the future The church wlll, of course, continue to priorftise Its charitable objectives and commensurate activities as spelt out above. The prospect of extensive new church and community facilities presents a major and exciting opportunlty 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. P?ge 3
PURLEY BAPTIST CHURCH LEADERSHIP TEAM REPORT (continued) Statement of Directors, Responsibilities Tlie directors are responsible for preparing the annual report and the financial statements in accordance with applicdble 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 whicl) give a true and fair view of the state of affairs of the charitable coinpany and of incoming resource5 and application of resourco. 5, inrliidinF, the income and expenditure of tlie cliarildble company for the period. In preparing tliese lirliiiicial statements, tlie directors are required to: select suitable accountinE policies and then apply them consistently; make judgements and accounting estimates tlial <ire reasonable and prijdpnt,. state whether applicable UK Accounting Standards have been followed, subject to any matcrial departiirps disc105ed and explained in the financial statements.. and prepare. the firianci31 statements on the Eoing concem basis unless It is inappropriate to presume that the churcli will Lontiniie in its activities. The directors are responsible for keeping adequate accounting records whicli disclose with reasonable accuracy at aiiy time the fiiirincial position of thp chiirch and to enable tliein to ensure that the. fincincial statements comply with tlie Compaiiies Act 2006. They are also responsible for safeguarding the assets of the church and hence for taking reasur)dble steps for the prevention and detection of fraud or other irregularities. Disclosure of Information to the auditors To tlie l<nowlL,dge and belief of the directors, there is no relevant information thdt the company's auditors are not ,Iware of, ¢iiid tho dirv.r.tors have taken all the steps necessary to ensure that the auditors are aware of any relevant i17forni<ltiori, and to establish thai tlie 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 relatiriLI tv small companies. Approved by the Leadership Team on 22 October 2025 and signed on their behalf bv.. Purley Baptist Churcli Banstead Roa(1 Purley Surroy CR8 3EA David Clarke Dii'ector Page 4
INDEPENDENT AUDITOR'S REPORTTO THE MEMBERS AND TRUSTEES OF PURLEY BAPTlSf CHURCH Opinlon We have audited the flnancial statements of Purley Baptist Church (the 'charltable company,) for the year ended 31 Decernber 2024 whlch comprise the Statement of Financl81 Actlvltles, the Balan Sheet, the Cash Flow Statement and notes tothe flnanclal statements, Includlng a summary of signifKant accounting pollcles. Thefinanclal reportlng framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accountlng Practlce), Including Financlal Reportlng Standard 102 The Financlal Reportlng Standard ppllcable in the UK arKI Republic of Ireland,. In our opinion the financial statements: glve a true and falrvlew of the state of the charitable company's affairs a5 at 31 Dember 2024 and of the charitable company's incoming resources and application of resources. includlng their income and expenditure, for the year then ended; have been properly prepared In accordance wlth United Kingdom Generally Accepted Accountlng Practlce,. and have been prepared In accordance with the requirements of the Companles Act 2(X)6. Basis for opinion We conducted our audit in accordance with International Standard5 on Auditlng (UK) (ISA5 (UK)) and applltable law. Our re5ponslbilitles under those standard5 are further descrlbed In the Auditors re5pon5ibillties for the audlt gf tho tinancial statements sectlon of our report. We are Independent of the charlt3ble company in accordance with the ethlcal requlrements that are relevant to our audlt of the financial statements tn the UK, includlng the FRC'S Ethlc81 Standard, and we have fulfilled ourother ethlcal responsibilltles In accordance wlth these requlrements. We belleve that the hudit evldence we have obtained ts sufflclent and approprlate to provide a basls for our opinlon. Concluslons relating to 8olr¥ <oncern In auditSn8 the flnancial statements, we have concluded that the trustees, use of the golng concern basls of accountlng In the preparation of the flnanclal statements Is approprl8te. Based on the work we have performed, we have not Identifled any material uncertaintles relating to events or condStlon5 that, indivldually or collethively, may cast signlflcant doubt on the charitable Companrfs ablllty to contlnue as a gDlng conrn for a perlod of at least twelve months from whert the financial statements are authorlsed for Issue. Otsr responslbilities and the respon5ibilltles of the trustees, wlth respèct to going concern are described In the relevant sectlons of thls report. Other Infoymatlon The trustees are responsible for the other Inforniatlon. The other lftformation comprlses the informatlon Included In tho annual report, other than the flnancial statements and our Report of the Independent Auditors thereon. Qur oplnlon on the financlal statements does not cover the other informatlon and we do not express any fom) of assurance concluslon thereon. In connection with our audit of the financial statements. our SponsIbl11tY 15 to read the other Informatlon and, In dolng so, conslder whether the other informatlon Is mBterlally Inconslstent with the financial staternents or our knowledge obtained in the audlt or otherwise appear5 to be materially misstated. If, based un the work we have perfomied, we conclude that there15 a material misstatement of th15 Other InformatSon. we are rewlred to report that fact. We have nothlThg to report in th15 regard, Opinion on other matters pres¢rlbed by the Companies Act 2006 In our oplnlon, based on the work undertaken In the coutse of the audit: the Information given in the Report of the Trustees for the financial year for which the flnanctal statements are preparedls conslstent wlth the financial statements; and the Report of the Trustee5 h35 been prepared in accordance with appllcable legal requirements. Matters on which we are requlred to report by exceptlon In the Ilght of the knowledge and understandiTrg of the charitable company and Its environment obtalned 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 BAiYfisT CHURCH Icontinued) Matters on which we are required to report by exceptlon We have nothing to report in respect of the following matter5 where the Companles Att 2006 requires us to report to you if, In our opinion: adequate accountlng record5 have not been kept or returns adequate for our audit have not been recelved from branches not visited by us; or the financlal statements are not in agreement Wtth the accountlng recon15 and returns; or certain disc105ures of trustees, remuneration specified by law are not made: or we have not received all the information and explanatk)ns we requlre for our audlt,. or the trustees were not entitled to take advantage of the small companles exemptlon from the requirement to prepare a Strateglc Report or in preparin8 the Report of the Trustees. Responslbilitlès of trustees As explained more fully in the Statement of Trustees Responsibllltles, the trustees {who are also the directors of the charltable Company for the purposes of company law) are responslble for the preparation of the flnanclal statements and for belns satisfied that they Blve a true and falr vSew, and for such internal control as the trustee5 determine Is necessary to enable the preparatlon of flnancial Statements that we free froffl marerlal m15Starement, whether due to fraud or error, In preparing the flnanclal statements, the trustee5 are responslble for asse55lng the charltable company's ability to continue as a going concern, dlsclosing, as appllcable, matters related to gDin8 concern and usSng the going concern basis of accounting unless the trustee5 elther Intend to Ilquidate the charitable company or to cease operatSon5, or have no realistic alternative but to do so, Our respon51bllltie5 forthe audlt of the financlal statements Our obj-ectlves are to obtaln reasonable assurance 4boutwhether the financial statements a5 a whole are free from materlal m155tatement, whether dueto fraud or eTror, and to Issue a Report of the Independent Auditors that Include5 our opinlon. Reasonable assurance15 a high level of assUraTr, but Is not a guarantee that an audlt conducted In accordance wlth ISAS IUKI wlll always detert a rnaterial mlsstatement when it extsts. Mlsstatements can arlse from fraud or error and are considered material if, Individually or In the aBgre8ate, they could reasonably be expected to influence the economlc declslons of users taken on the basis of these flnanclal statements. If regularitles, includlngfraud, are Instances of non-compllance wlth laws and regulatlons, We deslgn procedures in line wlth our responslbllltles, outlined above, to detect mater181 mi5Statements in respect of Irregularlties, inclvdiTrgfraud. The extent to whlch our procedures are capable of detectlng irregularitles. including fraud is detailed below: The eKtent to whlch the audlt was considerÈd capable of detectln8 irregularltles including fraud Our approach to Identlfylng and a5se55ing the rlsks of materlal mi5Statement in respect of Irregularlties, Includlng fraud and non-compllance wlth law5 artd regulations, was as follows.. the engagement partner ensured that the engagement team collectlvely had the approprlate cornpetence, copabllities and skllls to identlfy or recognlse non-compllance wlth applicable laws and regulatlons; we identlfled the laws and regulations appllcable to the company through discussions wlth trustees and other mana8em8nt. revlew of the compsnvs list of le8al & regulatory requkements, and from our CommeIal knowledge and eXperIen of thÈ sector. we focused on specific laws and re8ulation5 which we consldered may have a direct material effect on the flnancial Statements or the operatSons of the charitable cornpany, Including the Companle5 Act 2006, charlty leglslation, employment, safeguarcling and hèalth and safety le8lslatlon,' we assessed the extent of compliance with the laws and re8ulatlons identlfled above throu8h mal<lng enqulrie5 of management and inspectlng relevant correspondence: and Identified lèws and regulatlons were comrnunicated within the audit team regularly and the te4m remalned alert to instances of non-compliance throughout the audit. Pa8e 6
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS AND TRUSTEES OF PURLEY BAPT15T CHURCH (continued We assessed the susceptibllity of the charltable company's financlal ststements to materlal mtsstatemeDt, Including obtaining an understanding of how fraud rnight occur, by: making enquirles of management a5 to where they consldered there was 5U5ceptlblllty to fraud. their knowledge of actual, suspected and alleged frnud. and conslderlng the internal controls In place to mfti8ate risks of fraud and nonrycompllance with laws and regulatlons. To address the risk of fraud through man3gement blas and override of controls, we: performed analytlcal procedures to Identify any unusual or unexpected relation5hip5' tested loiirnal entries to Identlfy unusual transactions, assessed whether judgements and assumptions made In determlning the accounting estlmates were Indicative of potentlal bias,. and investlgated the ratlonale behind slgnlflcant or unusual transactlon5. In response to the risk cf Irregularities and non-compl58n wlth laws and re8ulatlons, we deslgned procedures whlch Included, but were not Ilm5ted to: a8reelng financlal statement disclosures to underlyln8 SUPPOrting documentation; readlng the mlnutes of meetln8s of those charged wlth govemance; obtalnlng an t)vervlew of the Internal prOdureS adopted by the client to ensure contlnued compliance wlth relevant laws and regulatlons, IncludlnE a revlew of a sample of the report5 from internal pro55 audits; enqulrln8 of mana8emeTrt as to attual and potential Iltigation and clalms; and revlewlng relevant correspondence wlth relevant regulators and the cornpanrfs legal advlsors. There are inherent Ilmltatlons in our audlt procedures descrlbed above. The removed that laws and regulatlons are from flnanclal tr8nsactlons, the less Ilkely It Is that we would become aware of non-compllance, Audltlng stanclards also limSt the audlt procedures requlred to Identify non-compllance wlth laws and re8ulations to enqulry of the dlrectors and other Inanagement and the In5pettlon of regulatory and légal corresponden, If any. Material mlsstatements that arise due to fraud can be harder to detect than those that arlse from error as they may Involve deliberate concealment or collusion. A further descriptlon of our responsibilltles for the audit of the flnancial statements is located on the Financlal Reportlng Councll's webslte at www.frc.org.uk/auditorsrespon5ibilities. Thls description forrn5 part of our Report of the Independonl Audltors. This report Is made Sole to the charltable company's members, as a body, in accordan with Chapter 3 of Part 16 of the Companie5 Art 2006. Our audit work has been undertaken 50 that we mlght state to the charftable company's memhers those matter5 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 responsibllltyto anyone otherthan the charltable compaw ?nd the charitable mpan member o(ty, for our audit work, forthi5 report, or forthe opinions we have formed. Lance Redman (Senior Statutory Auditor) for and on behalf of Shaw Gibbs (Audit) Limited 264 Banbury Road Oxford OX2 7DY gloctober 2025 Page 7
PURLEY BAPTIST CHURCH STATEMENT OF FINANCIAL ACTIVITIES (Includ1 the income and expenditure account) FOR THE YEAR ENDED 31 DECEMBER 2024 Unrestricted Restricted 2024 Unrestricted Restrl¢ted 2023 Fund5 Fund5 Total Funds Funds Total Income from: Donations and legacies (note 31 Charltable activities (note 4} Other trading actlvltie5 Investments Other Total income 847,230 24.775 872,LX)5 30,528 30,528 49,800 49,8(X) 1,798 1,798 679 679 24 30035 LS 954810 fjQL882 532,627 23,590 47.600 2,257 6,061 9,717 538,688 33.307 47,600 2,257 623 660 Expenditure on: Charitable Activitles (note 6) Ministry/Worship Mlsslon Purley Cross Centre Total expendlture 389,799 333,994 389,799 356,012 347,469 308,965 347,469 313,860 22,018 4,895 746 l L 771839 Net Income/(expendltureJ 183,214 {243) 182.971 153,2641 (11,781) {65,0451 Transfers Net movement In funds 183,214 1243} 182,971 (53,2641 111,781) 165,0451 Reconciliation of funds Fund balances brought forward 16 697 2 365 644 2 28 478 2 430 689 Fund balan5 carried forward Page 8
PURLEV BAPTIST CHURCH BALANCE SHEET AS AT 31 DECEMBER 2024 2024 2023 Note Fixed assets Tii ngible assets 2,129.593 2,139.552 Current assets Deblors CtJ511 (It baiik dnd ii) liand io 325.112 147,644 163,956 97,201 472 756 2611)r7 Current Ilabllltles Creditors: Amount.$ falling due iii less than one Vg¢ir li Net current assets 419 022 226 092 Total assets le55 current liabilities 2,548.615 2,365,644 Credltors.. Amounts falling due after more than one yoar Net assets 2..548,615 2,.465,644 Represented by Restricted Fiind Uiire5tricted Fiinds 13 12 16.454 2 532 161 1548,615 IC),697 2 348 947 2,365,64_4 T17e financial statements were prepared in accordance with the special provisions of the Companip.s Art 2Q06 relatir)t' to smdll companies, were approved by the Leadership Team on 22 October 2025 and 5iFned on their behalf.. David Clarke Director Page 9
PURLEY BAPTIST CHURCH CASH FLOW5TATEMENT YEAR ENDED 31 DECEMBER 2024 2024 2023 Net cash provided by/(used in) operatlnB activities Isee below) Cash flows from Imiestlng activltles 52,568 (96,158) Purchase of propertyi plant and equipment 28 5681 Net cash (used In)/provided by investlng actlvitie5 Cash flows from financlng artlvlties (2,125} 128,568) Receiptfrom intercompany loan Repayments of borrowin8 (217,Oc) Net cash used In flnanclng actlvlties Change In ¢ash In the year 50.443 1124,726) Cash at start of the year 221927 Cash atthe end of the year Reconciliatlon of net cash provlded by operating actlvltles Net income/{expenditure) Depreciation Los5 on disposal of fixed assets Change in debtars Chan8e in creditors Net cash provided by/(u5ed Inl operating activltles 182,971 12,084 (65,045) 13,945 1161,156) (42,737) Page 10
PURLEY BAPTIST CHURCH NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 310ECEMBER 2024 AccountlnE policies 1.1 Accountlng convention The church Is a company limited by guarantee wlth registered office at Banstead Road. Purley, Surrey, CR8 3EA and incorporated In England. It is a public benefit entity. The financlal statement5 have been prepared in accordance with Accountlng and Reporting by Charlties: Statement of Recommended Practice applicable to chawities preparing their accounts in accordance with Financial Reporting Standard 102 as amended by Update bulletin I, Financial Reportlng Standard 102 and the Companies Act 2006. The financial ststements are prepared in pound sterllng rounded to the nearest pound. The financlal statements are prepared under the hlstorlcal cost conventlon and on the 8olng concern basls. There are no materlal uncertaintles about the church's ability to contlnue in operation. 1.2 Properties Freehold properties have been included at valuatron at the date of gift from the unincorporated charity with subsequent Improvements at cost. The formal title tothe churth bulldlnB is held by Purley Bapt15t Church Land Trust, of which the Church is a corporate trustee. The Church has the beneficial interest in the propemi and It Is therefore shown in these accounts. The LeadershipTeam consider thatthe residual value of the freehold land is sufflclently higherthan the carryin8 values of the freehold property to render both the depreciation charge for the year and the accumulated depreciation Immaterial. No depreclatlon has therefore been charged on freehold property. 1.3 Other a55ets Other assets are Included at valuation on date of gift or cost. Depreciation Is calculated to write off the cost of flxed assets over thelr estimated useful lives by equal instalments with a full annual charge In the period of acquisitlon. Assets under £500 are not capitalised. The principal useful economic lives applied In calculating depreclation are as follows: Church furnlture Offlce equipment Sound and other equlpment Over 6 years Over 3 and 4 years Over 3 years 1.4 Donatlonsi glfts and leBaclg5 These are accounted forwhen the Church iscertain of receiptand the amountcan be measured wlth reasonable accuracy. 1 .5 Investment Income Thls represents bank interest and 15 accounted for on a receivable basis. 1 .6 Grants Grants payable are included once the expenditure has been approved by the Leadershlp Team. 1.7 Expenditure These are recognised when the expenditure is incurred. All costs have been directly attributed to one of the functional classificatlon5 in the SOFA. Support Costs have been allocated one third to Ministry and two thirds to Mission. Page 11
PURLEY BAPTIST CHURCH NOTE5 TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 (continued) 1.8 Governance costs These comprise expEnditure relating to compliance with constitutional and statutory requirements. 1.9 Pension costs Pension Contributions Into deflned contribution schemes are accounted ft)r when they fall due. The pension cost for the deflned beneflt scheme is the movement in the dlscounted provislon for the year. 1.10 Creditors and provlsions Credilors and provlsions are cogniSed where the church has a present obligation arlsing 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 estlmated reliably. Creditors and provlsions are recognised at their settlement amount. 1.11 Financlal instruments The church only has financlal assets and liabilitles of a l(ind that quallfy as baslc financial instruments, Basic financi31 instruments are initially recognised at transaction value and subsequently measured using amortised cost on the effective interest rate method. Net lfi¢ome Thls Is stated after charglng: 2024 2023 Audit fee Depreciation 6,460 6,320 Donations and legacles 2024 2023 Donations Glft aid Grants Legacles 521,016 445,985 97,989 92,703 3,000 Income from charitable artlvltles 2024 2023 Purley Cross Centre Purley Counselling Service Church events 3,667 19,882 10,017 17,716 Page 12
PURLEY BAvfisT CHURCH NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Icontinued) Staff costs Z024 2023 Salaries Employerts National Insurance Employerfs contribution to defined cOntributn penslon xheme5 406,921 33,106 380,028 31,734 The average montlily number of employees during the year were as follows: 2024 2023 Ministry Admlnlstration Facilities Purley Cross Centre No employees earned over £60,000 In the year. Staff costs include termlnation payrnents of £8,520. Detalls of trustees, remuneratS0Th are disclosed in note IS. Thetrustees did not receive any reSmbursed expenses. Charltable Attlvities Dlrect Costs Grant FurKling Support Costs Total 2024 Total 2023 Minlstry/worshlp Mlssion Purley Cross Centre 287,780 64.033 102,019 204,039 389,799 356,012 347,469 313,860 87,940 Support¢osts Ministry Mission 2024 2023 AdinSnistration Governance-auditorfs remuneratlon Facilitie5 65,857 2,153 131,714 4,307 197.571 6,460 199.949 6,320 20 Support costs have been allocated one third to Ministryand two thlrd5 to Mission. Page 13
PURLEY BAPTIST CHURCH NOTES TO THE FINANaAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Icontinued) Grants payable Totsl 2D24 UnTestrl¢ted Total 2023 Restrlcted Mlsslon and relief Baptist Union Home Mission Fund Baptist Misslonaty Soclety International Needs Other Christianity Explored Our God Glven Individuals- Hardship fund 23,800 6,438 19,391 2,006 1,645 23,800 200 1.751 4,000 2,500 200 1,751 4,1)00 2,500 Iwisslonary Support Wycllffe Bible Translators Mission Avlatlon Fellowship Individuals 32,051 4,815 35,866 33,260 31,964 6,468 31.964 6,468 31,361 6,005 SoclalAction Ment4 Total grants 48.200 48,200 43,366 874 Tanglble assets Frpehold Propertles Church & Sound Equlp Office. Qube & PCC E9uIp Total Cost At l January 2024 Additions Dlsposals At 31 December 2024 2,110,126 65,(K)6 1,618 61.701 507 2,236,833 2,125 2 238 958 D?preciatlon At lJanuary2024 Charge forthe year Released on dlsposal At 31 December 2024 13,628 37,682 5.183 45,971 6,901 97,281 12,084 109 365 Net book value At 31 December 2024 At 31 DÉ*cember 2023 55 The resldential 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,(K)O. Page 14
PURLEY BAPT15T CHURCH NOTE5 TO THE HNANCIAL STATEMEhftS FOR THE YEAR ENDED 31 DECEMBER 2024 (continuedl 10. Debtors 2024 2023 Gift aid tax recoverable Other debtors Prepayments 58,774 256,262 144,800 9,221 Other debtors includes £250,000 relating to a legacy owed to the church which has not yet been pald. 11. Cred5tors: Amounts falling due In le5$ than one year 2024 2023 Other credltors Owed to subsldiary Accruals 16,772 135 23,269 12. Unyestrlcted Funds Balance at l January 24 Income Expenditure Transfer5 Balance at 31 December 24 GeneroJ- Church General- Fixed assets GenÉrol- Other actlvrties General Fund Total 205,913 925,456 2.139,552 44,501J 11,459 (9,959} 398,327 1129,593 Balance at l January 23 Income Expenditure Transfers Balance at 31 December 23 General- Church General- Fixed 055ets General- Other Grtivlties General Fund Total 272,489 584,797 2,124.929 (629,192} (22,181} 14,623 205.913 2,139.552 The other activities represent balances held in respect of Bods and Tods, Ladies BreakfasL and Aperture. Page 15
PURLEY BAPnST CHURCH NOTES TO THE HNANaALSTATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 (wntinued 13. Restrlttsd Funds Balance at l January 24 Income Expenditure Transfers Balance at 31 December 24 Special objects Purley Cross Centre 16,697 21,775 122,018) 16,454 Balance at l January 23 Intome ExpendItU Transfers Balance at 31 December 23 Special objects Purley Cross Centre 15.531 6,061 (4,895) (22 6641 16,697 The Speclal Objerts Fund recelves donatlons earmarked for speclfic purposes, Including special offerings made durln8 the year. These arnounts are then remltted to the appropriate beneficlaries. The Purley Cross Centre Fund received 8rants and dDnatlons for speclfic purposes in the year. The inconie from activlties and the remainingcostsofthe Purleycrosscentre have been borne bythe General Fund and are shown In the Statement of Financial Actlvities on page 8. 14. Analysls of net assets betWn fvnds Fixed Assets 2024 Current Assets Llablllties and provisions Total Generol Fund Generol Fund- Other actlvjyles General Fund Totsl Special objects fund 2 129,593 452.061 (53, 734) 2 527,920 2.129.593 456,302 (53,7341 2,532,161 Flxed Assets Cuirent Assets Liabilitres and provisions Total 2023 Generol Fund General Fund- Other activlties General Fund Totsl Special objects fund 2,139,552 240,978 {35,065J 2,345,465 2.139,552 244,460 {35.065) 2,348,947 Page 16
PURLEY BAPTIST CHURCH NOTES TO THE FINANCIALSTATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 (continued) 15 Related party transactions Trustees remuneration The following trustees recelved remuneration under the authority of the Memorandum & Artlcles of Assoclation..: Remuneration Pension Contributions James Collins TIM Allen Chris Roe Senior Minister Assistant Minister Worship Pastor 38,889 59,525 4,630 5,972 The Senior Minister was a150 provided with accommodatlon. Benefits are accruin8 to three trustees under money purchase pension schemes. Employee benefits of £190,05412023:£147,194) were recelved by key management personnel In the year. 16 Subsidiary The subsldiaryi 58.12 has company number4832161, charlty number1101446 and registered officeof Ban5tead Road, Purley. Surreyi CR8 3EA. The church has full control of the subsldiary. A summary of its results for the year Is as follows: 2024 2023 Assets Liabilities Total funds 3,434,589 3,451,091 153 380 Income Expenditure Surplus 40,554 68,157 Page 17