Charity number: 1132492 SHOEBURYNESS AND THORPE BAY BAPTIST CHURCH UNAUDITED TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 VINTWAMS
SHOEBURYNESS AND THORPE BAY BAPTIST CHURCH CONTENTS Page Reference and admlnistrative details of the charity, Its trustees and advisgrs Trustees. report Independent examin8rfs report Statement of financial activities 10 Balance sheet Notes to the financial statements 12-28
SHOEBURYNESS AND THORPE BAY BAPTIST CHURCH REFERENCE ANDADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2024 Trustees K Peters, Chair Rev J C Hellenbrand Rev A J Brand (appointed 1 September 2024) Y Joan Sayer (appointed 19 November 2024) S Evans P Bumham G Bannister D Hardingham (resigned 31 July 2024} V C Baker (resigned 31 August 2024) Charlty reglstered number 1132492 Principal office 90 Thorpedene Gardens Shoeburyness Southend on Sea Essex SS3 9JD Accountants Venthams Chartered Accountants Millhouse 32 - 38 East street Rochford Essex SS4 1DB Bankers National Westminster Bank 132 High Street Southend on Sea Southend on Sea Essex SS11JX The Co-operative Bank PO Box 250 Delf House Southway Skelmersdale WN8 6WT Page 1
SHOEBURYNESS AND THORPE BAY BAPTIST CHURCH TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 The Trustees present their annual report together with the financial statements of the charity for the year ended 31 December 2024. The trustees confirm that the annual report and financial statements of the charity comply with current statutory requirements, the requirements of the charivs governing document and the provisions of the Statement of Recommended Practice (SORP), applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 01 January 2015). ObJectlves and activities a. Pollcles and objectiV8S The principal purpose of the Church is the advancement of the Christian faith according to the principles of the Baptist denomination. As a Member of the Baptist Union of Great Britain the Church subscribes to the Union's Declaration of Principle which is.. - 'That our Lord and Saviour Jesus Christ, God manifest in the flesh, is the sole and absolute authorily in ail matters pertaining to faith and practice, as revealed in the Holy Scriptures, and that each church has liberty, under the guidance of the Holy Spirit, to interpret and administer His laws. That Christian Baptism is the immersion in water into the name of the Father, the Son and Holy Spirit, of those who have professed repentance towards God and faith in our Lord Jesus Christ who died for our sins according to the Scriptures., was buried, and rose again on the third day. That it is the duty of every disciple to bear personal witness to the gospel of Jesus Christ. and to take part in the evangelisation of the world.. In setting objectives and planning for activitses, the Trustees have given due consideration to general guidance published by the charty commission relating to public benefit and in particular the guidance on charities for the advancement of religion. b. Activities undertaken to achleve objectiV8S The church is afriliated to the Baptist Union of Great Britain, is a commiited part of the Eastern Baptist Association, and has good ecumenical relationships with other local churches in SoLrthend. The fomial membership of the church numbers approximately 200 with additional people regularly attending without becoming formal members. During 2024 we welcomed 12 new members and 5 people were baptised. There are new people attending each week, and the church is working to be even more effective at welcoming and integrating new people into the church communty. For the majorty of 2024 the church was without a Lead Pastor but continued to function and thriv8 under the leadership of the other Pastors and the church Elders. In September we appointed Rev Alan Brand 8s our new Lead Pastor. He brings much experience, wisdom and passion to the role and the church is looking fOard to seeing how God will use Alan to lead the church in this next season. -our gathered worship is a source of encouragement and joy, and we were grateful to have many visiting speakers join us whilst we were searching for a new Lead Pastor. Sunday morning services continue to be live- streamed via YouTube with a regular number of people engaging this way, and our monthly First Wednesday and Evening Prayers & Communion services provide opportunities for more traditional and reflective worship. As well as obseIng the main events of the liturgical calendar. setwices have included series exploring the parables, the book of Esther and the letter to the Philippians. Many people in the church continue to meet regularly in small groups during the week, and the weekly Bible Study continues to thrive. Pastoral care is still a significant part of our life together. Working with the Pastoral Team, this area of church life is overseen by our Pastor for Caring & Serving ministries, Rev Jo Hellenbrand. Page 2
SHOEBURYNESS AND THORPE BAY BAPTIST CHURCH TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Objectives and activities (continued) Jo's ministry brings much love. care and compassion to our work both inside and outside of the church. We have continued to lead services in local care homes, working with our local Anglican church. Care homes are also supported by our Parish Nursing team. who continue to be a blessing to many people. There has been a particular growth in our work with those living with dementia, as well as s new group starting specifically to provide support to carers. Our other work in the local community is still ongoing, with our weekly Foodbank distribution centre providing a vital service. We also continue to help with fighting holiday hunger and encouraging families to cook together by providing MUNCH food bags. This year we also ran activities for families to attend over the summer holidays. On Christmas Day we hosted a lunch for anyone in the community who would otherwise be on their own. This was well received and an important way of supporting local people. Work with children, youth and families remains a priority, with many children and young people attending midweek groups as well as Sunday activities. We continue to partner with a local therapy practice to provide mental health support to young people who would otherwise not be able to access it. A group of nearly 30 young people attended the Satellites summer festival, and another trip is being planned for 2025. Our Boys, Brig8de & Girl's Association ended in the Autumn, but a new provision for children and youth has replaced it and is expected to grow and thrive through 2025. We remain committed to social justice and inclusion, and were pleased to join some other local churches in hosting a stall at Southend Pride over the summer. We continue to work towards an Eco Church Gold award and strive to make environmentaly friendly choices in all we do. We included a series of reflections on Black History Month during our Sunday moming services, and continue to look for opportunities to engage with the important work of racial justice. We have a significant number of neurtyjivergent people (children and adults) in our church and being accessible to them is of real importance to us too. We endeavour to not to exdude anyone and we will continue in this endeavour. We received three grants from two external funding bodies this year. Essex Communty Foundation awarded us a grant for our Parish Nursing work. The Southend Communty Investment Board gave us the second instalment of a three year grant for our work with young people's mentsl health. as well as a gr8nt for our Christmas Day lunch for those who wouEd othemise be on their own. The Shoebury Book Shed continues to raise money each month, as well as providing a different way of engaging with the communty. The church sold the property at 1 Lambourn Close in September. It is hoped that through 2025 we will see an upward curve in the funds generated through church members, contributions. Conversations have also begun, considering ways in which we can maximise our finance generating opportunities as an organisation through projects and activities making use of our people's skills and interests and our building. Achievements and performance a. Key perfomiance Indlcators The Trustees recognise that these aspects can be difficuli to measure and that the church does not take numerical or financial figures as the prime way of assessing the church's mission and ministry. Much of the work of the church is more difficult to measure in tangible ways, such as people growing in their faith, or more people in the Ic¢al community being blessed. The Church is grateful to its members for donating generously to allow the Church to fulfil its programme of activities in the local area and to support its mission partners further afield. Of ts £313,586 income (predominantly achieved through donations and associated Gift Aid tax recovery, along with premises hire) the church has provided grants to other organisations of £17,367. Page 3
SHOEBURYNESS AND THORPE BAY BAPTIST CHURCH TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Achievements and perfomiance Icontlnued) b. Revlew of actlvltles An operating budget is approved annually and the day to day finances are administered by the Finance Administrator. Finance reports are provided monthly to the trustees, and shared at regular intervals with all church members. Remuneration of employed staff is set by trustees, and is agreed by all church members as part of approving the operating budget for the year. The church is heavily reliant on members and others who serve as volunteers across all aspects of the church's work. Many groups and activities have little impact on the church's expenditure but contribute signrficantly to the furthering of the church's objectives. General fund income for 2024 was £266,581 (2023 - £265,399) and related expenditure excluding property depreciation and the gain on sale of 1 Lamboum Close was £332,782 {2023 - £3C6,885) resulting in a deficit of £66,201 for 2024 (2023 deficit of £41,488). Total income, including general fund, designated funds and restricted funds for 2024 was £313,586 (2023 - £329,806> with expenditure of £451,295 (2023 - £419.193). which resulted in a net deficit for the year of £137,709 (2023 £89,38n. When the gain on the sale of the property is included then the final surplus for the year was £52,499 {2023 - deficit of £89.387). Details of income and expenditure can be found in the Statement of Financial Activities and the associated notes. Total reserves at the end of the year are £2,351,668 (2023 - £2,285,527), of which £24,151 (2023 - £39,289) are restricted. Unrestricted cash reserves at the end of the year are £234,918 {2023 - £75,016), well in excess of that required by the reserves policy which is set out below. There are no commitments or guarantees requiring disclosure. STBBC continues to support, connect with, and work alongside a number of networks and organisations across the UK. As well as supporting the Baptist Union's Home Mission appeal. we support the work of Christians Against Poverty, OneBodyOneFaith, the Runnymede Trust and SoLrthend Foodbank. We consistently seek to offer support and help to other churches either financially or through the time and skills of our Pastors and members. Beyond the UK, we continue to support the work of BMS World Mission, particularly the Spears family in Chad, and Reach Out to the Child and their ongoing work in South Africa. Flnancial review . Going concern The Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. b. Reserves policy The trustees have agreed a reserves policy which is broadly equivalent to 4 month's direct costs and support costs. The Trustees regularly review the reserves policy as part of the review of all finance policies. Recommendations are made to the church and agreed by the members at a Church Members, meeting. Page 4
SHOEBURYNESS AND THORPE BAY BAPTIST CHURCH TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 c. Prfnclpal rfsks and uncertainties The principal financial risk to the church is a significant drop in income as a result of changes to the donor base or changes in circumstances which reduce the ability of donors to give to the church at current levels. An addition81 risk is a reduction in income from hiring out our premises as a result of a change in needs of external hirers, or desirability of the building. The Trustees continue to monitor the level of donations and premises hire income as well as other risks to income such as those from national and global economic changes snd the impact of health crises and conflicts. d. Principal funding Financial responsibility for the work of the church rests with its members and the regular congregation through free-will offerings. In addition, approximately a fifth of our funding is received from hiring out the church buildings to external organisations and groups, Structure, governance and management a. Constitution Shoeburyness and Thorpe Bay Baptist Church was registered as a charty on 05 November 2009 under Charity Registered Number 1132492, and is constituted under a Trust deed. The Church is govemed and regulated by its own members. All significant aspects of the work of the Church are subject to the approval of the Church Meeting. Members of the Church are accepted into membership in accordance with the Constitution, which requires them to profess their faith in Jesus Christ. b. Methods of appointment or election of Trustees The Leadership Team and Pastors were for a number of years the sole Trustees of the Church. In 2013 the Church voted for a Trustee Board to be set up, to relieve the Leadership Team of these responsibilities. Trustees are appointed at a Church Members Meeting and have responsibility for the charitable governance of the Church. c. Organisational structure and declslon-maklng pollcles 2024 saw a number of staff changes, and at the end of the year the team consists of: Lead Pastor Pastor for Caring & Serving Ministries Parish Nurse Youth Worker & AV Technician Children's Worker Executive Assistant to the Pastors Finance Administrator Operations Manager Operations Team Assistant Caretakers We continue to be a Living Wage employer. Page 5
SHOEBURYNESS AND THORPE BAY BAPTIST CHURCH TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Plans for future periods We will begin 2025 with a preaching series on our values of Adventure, Generosty, Reflection and Sanctuary, before going on to preach and teach into the Importan of prayer {alongside implementing a more frequent rhythm of prayer gatherings), and then through Lent we will enter a season of responding pr8Ctically to what we have been hearing. This will include members contributing to the lrfe of the church through acts of servic@, volunteering, and revising their financial giving. From the second quarter of 2025 we hope to be in a position to see the impact of church members looking afresh at their contribution to the lffe of the church. We will build on this impact by continuing to explore and finance generating initiatives to enable us to significantly reduce our deficit. We have a number of new members who are keen to deepen their involvement and relationship with the church, so new small groups will be developed to facilitate that. There will be 8 focus on gathering together for prayer through 2025, believing as we do that this is always a significant aspect of a church's thriving. We will continue building good relationships with other churches in Shoeburyness & Thorpe Bay and plans are already afoot for several collaborative events and activities. We continue to be open to new ways of serving our communty alongside our current ministries and our building will host a gathering of communty organisations early in 2025 in partnership with the local Residents Association and the local NHS Primary Care Network. Page 6
SHOEBURYNESS AND THORPE BAY BAPTIST CHURCH TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Statement of Trustees. responsibilities The Trustees are responsible for preparing the Trustees, report and the financsal statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), The law applicable to charities in England & Wales requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the Charity and of its incoming resour$ and application of resources, including its income and expendtture, for that period. In preparing these financial statements, the Trustees 8re required to: select suitable accounting policies and then apply them consistently, observe the methods and principles of the Charities SORP (FRS 102)., make judgments and accounting estimates that are reasonable and prudent., state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements,. prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in business. The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Charity's transactions and disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the Trust deed. They are also responsible for safeguarding the assets of the Charty and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Approved by order of the members of the board of Trustees and signed on their behalf by.. Q.£.Po*ar% . K Peters Chair of Trustees Date.. Page 7
SHOEBURYNESS AND THORPE BAY BAPTIST CHURCH INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 Independent Examinerfs Report to the Trustees of Shoeburyness and Thorpe Bay Baptlst Church (Yhe Charity.) I report to the charity Trustees on my examination of the accounts of the Charity for the year ended 31 December 2024. Responslbllltles and Basls of Report As the Trustees of the Charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the 2011 Act,). I report in respect of my examination of the Charivs accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed the applicable Directions given by the Charity Commission under section 145{5){b) of the 2011 Act. Independent Examinerfs Statement sin the Charitys gross income exceeded £250,000 your examiner must be a member of a body listed in sectÉon 145 of the 2011 Ad. I confirm that l am qualffied to undertake the examination because l am a member of the Association of Chartered Certrfied Accountants, which is one of the listed bodies. Your attention is drawn to the fact that the Charity has prepared the accounts in accordance with Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities.. Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has been withdrawn. l understand that this has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015. I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect- accounting records were not kept in respect of the Charity as required by section 130 of the 2011 Act; or the a'ccounts do not accord with those records. or the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fairf view which is not a matter considered as part of an independent examination. I have no concems and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Page 8
SHOEBURYNESS ANDTHORPE BAY BAPTISTCHURCH INDEPENDENT EXAMINER'S REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 This report is made solely to the Charivs Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the Charitys Trustees those matters l am required to state to them in an independent examinerfs report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Charity and the Charity's Trustees as a body, for my work or for this report. Signed: Trevor Mccarthy FCCA Venthams Chartered Accountants Millhouse 32 - 38 East Street Rwhford Essex SS4 1DB Page 9
SHOEBURYNESS AND THORPE BAY BAPTIST CHURCH STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2024 Unrestricted funds 2024 Restricted funds 2024 Total funds 2024 Total funds 2023 Note Income from: Donations and legacies Charitable activities Investments 191.346 76,092 6,132 191,346 116.108 6,132 215,543 111,602 2,661 40,016 Total Income 273,570 40.016 313,586 329,806 Expenditure on: Charitable activities 396,141 55,154 451,295 419, 193 Total expenditur8 396,141 55.154 451,295 419,193 Net expenditure before net gains on Investments Net gains on investments Net movement in funds before other recognised gainsl{Ioss8s) (122,571) 13,642 (1 S,138) 1137,709 13,642 (89,387) 14,919 (108,929) (1 S,138) {124,067) (74,468) Other recognised gainsl{losses): other gains 190.208 190,208 Net movement in funds 81,279 (15,138 66.141 (74,468) Reconciliatlon of funds: Total funds brought fOard Net movement in funds 2,246,238 81,279 39,289 (15,138) 2,285,527 66,141 2.359,995 (74,468) Total funds carrled forward 2,327,517 24,151 2,351,668 2,285,527 Page_10
SHOEBURYNESS AND THORPE BAY BAPTIST CHURCH BALANCE SHEET FOR THE YEAR ENDED 31 DECEMBER 2024 2024 2023 Note Flxed assets Tangible asset8 12 1,740.405 2,050,485 1,740,405 2,050.485 Current assets Debtors Investments Cash at bank and in hand 13 33,657 330,553 259,069 29,378 106, 192 114.305 14 623,279 249,875 Creditors: amounts falling due within one year 15 (12,016) (14,833) Net curr8nt assets 611,263 235,042 Total net assets 2,351,668 2,285,527 Charlty funds Restricted funds Unrestricted funds 16 16 24,151 2,327,517 39,289 2,246,238 Total funds 2,351,668 2,285,527 The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by: . ¢d-QAf K Peters Chair of Trustees Page11
SHOEBURYNESS AND THORPE BAY BAPTIST CHURCH NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 General infomiation Shoeburyness and Thorpe Bay Baptist Church is a registered charity in the United Kingdom. The registered number of the charity and the principal office can be found on the company information page. Accountlng policies 2.1 Basis of preparatlon of financial statements The financial statements have been prepared in accordance with the Charities SORP {FRS 102) Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance wth the Financial Reporting Stsndard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102} and the Charities Act 2011. The financial statements have been prepared to give a 'true and fair, view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fairf view. This departure has involved folk)wing the Charities SORP (FRS 102) published on 16 July 2014 rather than the Accounting and Reporting by Charities: Ststement of Recommended Practice effecttve from 1 April 2005 which has since been withdrawn. Shoeburyness and Thorpe Bay Baptist Church meets the definition of a public benefrt entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otheNise ststed in the relevant accounting policy. 2.2 Income All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably. The recognition of income from legacies is dependent on establishing entitlement, the probability of receipt and the ability to estimate with sufficient accuracy the amount receivable. Evidence of entitlement to a legacy exists when the Charity has sufficient eiiidence that a gift has been left to them (through knowledge of the existence of a valid will and the death of the benefactor) and the executor is satisfied that the property in question will not be required to satisfy claims in the estate. Receipt of a legacy must be recognised when it is probable that it will be received and the fair value of the amount receivable, which will generally be the expected cash amount to be distributed to the Charity, can be reliably measured. 2.3 Expenditure Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third paty, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared Gosts, including support costs involved in undertaking each activiiy. Direct costs attributable to a single activity are allocated directly to that activty. Shared costs which contribute to more than one activty and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset's use. Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charitls objectives, as well as any associated support costs. Page 12
SHOEBURYNESS ANDTHORPE BAY BAPTIST CHURCH NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Accounting policies (contlnued) 2.3 Expenditure (contlnued) Grants payable are charged in the year when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the year end are noted as a commiiment, but not accrued as expenditure. All expenditure is inclusive of irrecoverable VAT. 2.4 Interest recelvable Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Charity., this is nomially upon notification of the interest paid or payable by the institution with whom the funds are deposited. 2.5 Tangible fixed assets and depreciation Tangible fixed assets costing £250 or more are capitalised 8nd recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably. Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost. Land is not depreciated. Depreciation on other assets is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives. Depreciation is provided on the following bases.. Freehold property Fixtures and fingS 50 years straight line 10'k & 200/0 Straight Line 2.6 Debtors Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. 2.7 Cash at bank and in hand Cash at bank and in hand includes cash and short-temi highly liquid investments with a short maturity of less than three months from the date of acquisition or opening of the d6POSIt or similar account. Page 13
SHOEBURYNESS AND THORPE BAY BAPTIST CHURCH NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Accounting policies {continued) 2.8 Liablllt18s and provlsions Liabilities are recc*3nised when there is an obligation at the balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide. Provisions are measured 8t the best estimate of the amounts required to settle the obligation. Where the effect of the time value of rnoney is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the statement of financial activities as a finance cost. 2.9 Financial instruments The Charty only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method. 2.10 Pensions The Charity operates a defined contribution pension scheme and the pension charge represents the amounts payable by the Charty to the fund in respect of the year. The charity operates a defined benefits pension scheme. The scheme is a multi-employer scheme where it is not possible, in the normal course of events, to identify on a consistent and reasonable basis, the share of underlying assets and liabilities belonging to individual participating employers. Therefore. as required by FRS17 'Retirement benefits,. the charity accounts ft)r this scheme as if it was a defined contribution scheme. The amount charged to the Statement of financial activities represents contributions payable to the scheme in respect of the accounting period. 2.11 Fund accounting General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charty and which have not been designated for other purposes. Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial ststements. Restricted funds are funds which are to be used in accordance with specrfic restrictions imposed by donors or which have been raised by the Charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financia5 statements. Investment income, gains and losses are allocated to the appropriate fund. Page 14
SHOEBURYNESS AND THORPE BAY BAPTIST CHURCH NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Income from donations and legacles Unrestrlcted Restricted funds funds 2024 2024 Total funds 2024 Donations 191.348 191,346 Unrestncted funds 2023 Restricted funds 2023 Total funds 2023 Donations Legacies 191,917 23.393 233 192, 150 23,393 215,310 233 215,543 Income from charitable actlvltles Unrestricted Restrlcted funds funds 2024 2024 funds 2024 Community groups Charitable rental income 17,420 58,672 40,016 57,436 58,672 76,092 40,016 6,108 Unrest17Cted funds 2023 Restricted funds 2023 Total funds 2023 Community groups Charitable rental income 18,084 61.021 32,497 50,581 61,021 Total 2023 79. 105 32,497 111,602 Page 15
SHOEBURYNESS AND THORPE BAY BAPTIST CHURCH NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Investment income Unrestricted funds 2024 Total funds 2024 Income from local listed investments Interest receivable 1,451 4,681 1,451 4.681 6,132 6,132 Unrestricted funds 2023 Total funds 2023 Income from local listed investments Interest receivable 1, 142 1.519 1. 142 1,519 2,661 2,661 Analysls of grants Grants to Institutions 2024 Total funds 2024 Grants, Mission and Ministry 17,367 17.367 Grants to Institutions 2023 Total funds 2023 Grants, Mission and Ministry 17.725 17,725 The Charity has made the following material grants to institutions during the year. Page 16
SHOEBURYNESS AND THORPE BAY BAPTIST CHURCH NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER2024 Analysis of grants (contlnued) 2024 2023 Name of instltution BMS World Mission BUGB Home Mission CAP in Southend Reach Out To The Child European Baptist Federation Southend Foodbank Lode Chapel OneBodyOneFaith A Rocha UK Runnymede Trust Church Mission Society Ozanne Foundation Stephen Lawrence Day Foundation 5,667 5,000 2.750 1,250 750 700 650 200 200 200 6.000 5,250 1, 750 500 1,100 250 250 125 17,367 17,725 Analysis of expenditure on charltable activltles Summary by fund type Unrestricted Restricted funds funds 2024 2024 Total 2024 Mission and Ministry 3%,141 55,154 451,295 Unrestncted funds 2023 Restncted funds 2023 Total 2023 Mission and Ministry 377,245 41,948 419,193 Page 17
SHOEBURYNESS AND THORPE BAY BAPTIST CHURCH NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Analysis of expenditure by actlvltles Activitie5 undertaken directly 2024 Grant funding of activities 2024 Support costs 2024 Totsl funds 2024 Mission and Ministry 241,474 17,367 192,454 451,295 AGtivities undertaken directly 2023 Gnt funding ol activities 2023 Support costs Total funds 2023 2023 Mission and Ministry 244,577 17,725 156,891 419, f93 Analysls of dlrect costs Mlsslon and Ministry 2024 Total funds 2024 Staff costs Depreciation staff training and expenses Sundays, small groups and discipleship Mission Youth, children and families -Pastoral care and counselling Accommodation 97,397 68.858 6,718 7.860 27,096 25.762 177 7.606 97,397 68,858 6,718 7,860 27,096 25,762 177 7,606 241,474 241,474 Page18
SHOEBURYNESS ANDTHORPE BAY BAPTIST CHURCH NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Anatysis of expendlture by activiti88 lcontlnued) Analysls of dlrect costs (continued Mission and Ministry 2023 Total funds 2023 Staff costs Depreciation staff training and expense8 Sundays, sma]I groups and discipleship Mission Youth, children and families Pastoral care and counselling Accommodation (Profit)Ibss on sale of fixed assets 104, 086 76, 544 3,941 9,226 18,741 24, 896 828 6,042 2T3 104,086 76,544 3,941 9,226 18,741 24,898 828 6,042 273 244,577 244,577 Analysls of support costs Mlssion and Ministry 2024 Total funds 2024 Staff costs Office costs Accommodation Govemance costs 91,181 17,573 79,352 4,368 91,161 17,573 79,352 4,368 192,454 192A54 Mission and Ministry 2023 Total funds 2023 staff costs Office costs Accommodation Govemance costs 75, 633 13,398 63, 797 4,063 75,633 t3,398 63,797 4, 063 156,891 156,891 Page 19
SHOEBURYNESS AND THORPE BAY BAPTIST CHURCH NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Independent examinerfs remuneratlon The independent examiner's remuneration amounts to an independent examiner fee of £2,700 (2023 - £2, 700), and accounting and taxation services of of £1,440 (2023 - £660). 10. staff costs 2024 2023 Wages and salaries Social security costs Contribution to defined contribution pension schemes 176,828 S.974 5,756 168,572 4,357 6, 790 188.558 179, 719 The average number of persons employed by the Charity during the year was as follows: 2024 No. 2023 Ministry staff Operations staff 12 13 No employee received remuneration amounting to more than £60,000 in etther year. Page 20
SHOEBURYNESS AND THORPE BAY BAPTIST CHURCH NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 11. Trustees. remuneratlon and expenses As penritted by the Church's constitution, remuneration was paid to Trustees for ministerial work within the Church. Rev Alan Brand, Rev Joanna Hellenbrand and Victoria B8ker received a salary of £11,440 (2023 - £Nil), £20,419 (2023 - £13,333) and £12,852 (2023 - £19,098) respectively and were reimbursed £1,889 {2023 £Nil), £7,059 (2023 - £5,417) and £1,630 (2023 £4,864) respectivety for travel and subsistence expenses. housing and phone contribLrtions. In addition, the Church made contributions into a Baptist pension scheme for Rev Alan Brand & Rev Joanna Hellenbrand amounting to £2,526 {2023 - £5,503). The Church also made pension contributions of £522 (2023 - £738) to Victoria Baker. Of people connected to the Trustees. Catherine Bannister the Parish Nurse who is married to the Trustee Graham Bannister, was remunerated accordingly. The aggregate totsl of unrestricted donations received by the Charty from ts Trustees amounted to £16,187 {2023- £24,263). During the year retirement benefits were accruing to 2 Trustees {2023 - 3) in respect of defined contribution pension schemes. 12. Tangible flxed assets Freehold Fixtur8s and property flitlngs Totsl Cost or valuation At 1 January 2024 Additions Disposals 3,176,069 473,397 7.418 (91,531) 3,649,466 7,418 (425,793) (334262) At 31 DecembEr 2024 2,841,807 389.284 3,231,091 Depreciation At 1 January 2024 Charge for the year On disposals 1,193,433 55,236 (85,622) 405,548 13,622 (91,531) 1,598,981 68,858 (177,153} At 31 December 2024 1.163,047 327,639 4,490,686 Net book value At 31 December 2024 1,678,760 61.645 1.740,405 At 31 December 2023 1.982, 636 67, 849 2,050,485 Page 21
SHOEBURYNESSANDTHORPE BAY BAPTIST CHURCH NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 13. Debtors 2024 2023 Due after more than one year Other debtors Due within one year Trade debtors Other debtors Prepayments and accrued income 2,502 7,910 1.668 21,577 4,364 5,000 20,014 33,657 29,378 14. Current asset Investments 2024 2023 Listed investments Unlisted investments (liquid) 121,285 209.268 106, 192 330,553 106, 192 15. Creditors: Amounts falling due withln one year 2024 2023 Trade creditors Other taxation and social security Pension fund loan payable Other creditors Accruals and deferred income 4,859 3.084 398 20 3,655 8,375 1,272 341 20 4, 825 12,016 14,833 Page 22
SHOEBURYNESS ANDTHORPE BAY BAPTIST CHURCH NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 16. Statement of funds Statement of funds - current year Balance at 31 Gainsl December (Losses 2024 Balance at 1 January 2024 Income Expenditure Unrestricted funds Deslgnated funds Fellowship Fund Premises Improvement Fund Book Shed 3,286 52A08 3,052 (1,025) (6,550) (548) 2,261 50,858 4,493 5,000 1,989 58,746 6,989 (8,123) 57,612 Balance at 31 Gainsl December (Losses) 2024 Balance at 1 January 2024 Income Expendlture General funds General Fund Land and Building Fund 204,856 q,982,636 266,581 {332.782) {55,236) 203,8SO 342,505 1,927,400 2,187,492 266,581 (388,018 203,850 2,269,905 Total Unrestrlcted funds 2,246,238 273,670 (396,141) 203,850 2,327,517 Page 23
SHOEBURYNESS AND THORPE BAY BAPTIST CHURCH NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 16. Statement of funds (contlnued) Balance at 31 Galnsl December (Losses 2024 Balance at 1 January 2024 Income Expenditure Restricted funds Saturday Club Christmas Garden S.HA.R.E (incorporating Parish Nursing) Match 17 Parish Nursing Grant Youth Camp stay & Play Children & Families Parish Nursing 2024 Grant Community Hospitaliiy Munch Heart Edge Singing For The Brain Youth Wellbeing Food Bank Future Ministry ECO Church 869 15 250 250 (365) (193) (203) 519 57 47 2.196 5,188 5,360 1,862 62 710 {1,417) (1,539) {5,360) {4,621) (62) (79) 1229) 16301 (2,7581 1,489 3,649 2,759 500 6,000 630 208 421 5,771 2.663 2.215 1,985 3,635 1,567 11,671 116 113 2,215 499 5,458 3,223 506 184 50 6,763 12,900 8,913 68 (1,536) (4.940) (11.244) (19,978) 39.289 40,016 {55,154) 24,151 Balance at 31 Gainsl December (Losses 2024 Balance at 1 January 2024 Income Expenditure Total of funds 2.285,527 313,586 (451.295 203,850 2,351,668 Page 24
SHOEBURYNESS AND THORPE BAY BAPTIST CHURCH NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 16. Statement of funds (continued) Statement of funds - prior year Balance al 31 December 2023 Balance at l January 2023 Gainsl (Losses) Income Expenditure Unrestrlcted funds Designated funds Fellowship Fund Staff Development Fund Premises Improvement Fund Book Shed 2.962 1,451 29,475 1, 620 474 (150) (1,451) (6,670) (168) 3,286 29, 603 1,600 52,408 3,052 35,508 31,677 (8,439) 58. 746 Balance at 31 December 2023 Balance at l January 2023 Gainsl (Losses) Income Expenditure General funds General Fund Land and Building Fund 231,423 2,044,557 265,399 (306,885) (61,921) 14,919 204,856 1.982,636 2,275,980 265,399 (368,806) 14,919 2,187,492 Totsl Unrestrlcted funds 2,311,488 297,076 (377,245) 14,919 2.246,238 Page 25
SHOEBURYNESS AND THORPE BAY BAPTIST CHURCH NOTES TO THE FINANCIAL STATEPJJENTS FOR THE YEAR ENDED 31 DECEMBER 2024 16. Statement of funds (continued) Balance at 31 December 2023 Salance at l January 2023 Gainsl (Losses) InGome Expenditure Restricted funds Saturday Club S.H.A.R.E (incorporating Parish Nursing) Match 17 Parish Nursing Grant Youth Camp stay & Play Children & Families Community Hospitalty Munch Heart Edge Singing For The Brain Youth Wellbeing Food Bank Future Ministry ECO Church 1, 609 233 (973) 869 2.288 7,275 1,488 (1, 580) (2,087) (1,555) (705) (140) (5) (4,529) (2, 609) (70) (1, 108) (4, 153) (6, 164) (16, 152) (118) 2, 196 5, 188 5,360 1, 862 62 6,915 2,567 202 4,529 2.522 2,285 353 7, 788 1,314 18,305 234 2, 750 2,663 2,215 1,985 3,635 1,567 11,571 116 2. 740 6,417 9,418 48,507 32, 730 (41, 948) 39,289 Balance at 31 Decemb8f 2023 Balance at l January 2023 Gainsl (Losses) InGome Expenditure Total of funds 2,359.995 329, 806 (419, 193) 14,919 2,285,527 Page 26
SHOEBURYNESS AND THORPE BAY BAPTIST CHURCH NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 17. Summary offunds Summary of funds - current year Balance at 31 Galnsl December (Losses) 2024 Balance at 1 January 2024 Income Expendfture Designated funds General funds Restricted funds 58.746 2,187,492 39,289 6,989 266,581 40,016 {8.123 (388,018 {55.154 57,612 2,269,905 24,151 203,850 2,285,527 313,586 (451,295) 203,850 2,351,668 Summary of funds- prlor year Balance al 31 December 2023 Balance at l January 2023 Gains/ (Losses) Income Expenditure Designated funds General funds Restricted funds 35,508 2,275,980 48,507 31,677 265,399 32, 730 (8,439) (368,806) (41,948) 58, 746 2,187,492 39.289 14,919 2,359,995 329, 806 (419, 193) 14,919 2.285,527 18. Analysis of net assets between funds Analysis of net assets between funds - current perlod Unrestricted Restricted funds funds 2024 2024 Total funds 2024 Tangible fixed assets Debtors due after more than one year Current assets Creditors due within one year 1,738,221 2,502 598,810 {12,016) 2,184 1,740,405 2.502 620,777 (12,016) 21,967 Total 2,327,517 24,151 2,351,668 Page 27
SHOEBURYNESS AND THORPE BAY BAPTIST CHURCH NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 18. Analysis of net assets between funds (contlnued) Analysis of net assets between funds - prior period Unreslricted funds 2023 RestiiGted funds 2023 Total funds 2023 Tangible fed assets Current assets Creditors due within one year 2,046, 762 214,309 (14,833) 3, 723 35.566 2, 050,485 249,875 (14,833) Total 2, 246,238 39,289 2,285,527 19. Pension commitments The charity operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the charity in an independently administered fund. The pension cost charge represents contributions payable by the charity to the fund and amounted to £5,756 {2023 £6,790). Contributions totalling £398 (2023 £341) were payable to the fund at the balance sheet date and are included in creditors. Page 28