ARARAT BAPTIST CHURCH
FINANCIAL STATEMENTS
YEAR ENDED 31st DECEMBER 2023
Charity Number: 1132808

ARARAT BAPTIST CHURCH
FINANCIAL STATEMENTS
YEAR ENDED 31st DECEMBER 2023
Contents
Report of the Trustees
Auditors. Report
9-12
Statement of Financial Activtties
13
Balance Sheet
14
Cash Flow Stalement
15
Notes to the Financial Statements
16-28

ARARAT BAPTIST CHURCH
REPORT OF THE TRUSTEES
FOR THE YEAR ENDING DECEMBER 31$t 2023
Ararat Baptist Church is an unincorporated charty, registered wrth the Charity Commission
since November 19 2009. The Church's Constrtution was adopled on June 25th 2009. In May
2021, at a Special General Meeting, it was agreed to amend the Constitution to allow Church
Members, meetings to take place in person. by electronic means or by a combination of
physical attendance and electronic (so called hybrid meetings). This amendment was
approved by the Charity Commission in discussion with the Baptist Union of Great Britian
{BUGB).
Organisational Structure and Decislon Maklng
The Church is govemed by its Trustees, who are appointed by the Church membership.
Trustees are appointed for a period of three years after which they may seek re-election. After
a period of 6 years, continuous service a one-year break is required befo￿ further re-election
may be sought. The Constitution does not stipulate a maximum number of Trustees. A
process of Trustee eleclions takes place most years in order to maintain an adequate number
of Truslees and lo allowfor the replacement of those who have completed Iheir term of service.
A Chairperson for the Trustees is appointed by the Trustees.
Trustees are responsible for the strategic direction and operational management of the
Church, and authority ig delegated lo the Church's Minister(s) and Secretaiies to make
decisions. When appropriate and necessary the specialist expertise of Church members and
friends is sought to assist in decision-making e.g. in relalion to matters of finance.
safeguarding and Church fabric issues.
Persons nominated to become Truslees ofthe Church musl have been a Church memberfor
a continuous period of one year, and must remain in Church membership during their tenure.
Nominations are received from Church members and must receive the support of two other
members along with acceptance of the nomination by the person nominated. All those
nominaled will meet wilh the Church's Minister{s) prior to the election in order to discuss the
work and responsibilities of trusteeship. All elected Trustees will have access to relevant
documentation from the Charity Commission pertaining to their responsibilities as a charity
trustee, the Chur¢h's policies and appropriate guidance materials and leaflets produced by
BUGB.
Nominations must be submitted in writing with the supporting signature of other Church
Members and the consent oflhe candidate.
The Church comprises both members and friends. Baptism by immersion upon personal
profession of faith in Jesus Christ is Ihe usual mode of entry into the membership of a Baptist
Church, although anyone seeking membership who has not been baptised in the manner
described in BUGB'S Declaration of Principle may, at the discretion of a Church Members,
meeting, be accepted for full membership based on their own public profession of faith.
Friends have nol requested membership of the Church, but they may attend seNices and
other Church activrties regularly or infrequently and are valued members of the Church
communrty. They may attend meetings of the Church members, but do not have any voting
rights.
The Church Constttution requires that 8 meeting of Church members take place at least four
times a year. Generally, a meeting is called every six to eight weeks. As stated, this meeting
is open to both members and friends of the Church and is the means whereby the Trustees

communicate with the membership about their duties and seek the approval of the Church
membership in relalion lo matters of importance. Agreement by way of Consensus is Ihe
preferred manner of decision-making, bul decisions on more important issues are made by
voting, where appropriate majorities as recommended in the Constitution are required.
All members and friends are encouraged to participate in the spiritual and practical tasks
required in Ihe furtherance of the Charity's aims and objectives, and a team of recognised
volunteers supports the day-to-day work of the Church.
There is a Financial Management Team comprising both paid employees and volunteers who
are responsible lo both the Trustees and the Church for keeping proper accounting records
and ensuring compliance with Ihe Charities Act 2011. Where required external auditing
arrangements are in place, and Ihe Church is mindful of its responsibilities in relation to
registration for VAT and has processes in place to implement this as and when Ihe Church
reaches the VAT Ihreshold. The Financial Management Team ensure that Annual Financial
Statements are prepared in accordance with the requirements for Charities. These Annual
Finan¢ial Statements are approved inilially by the Trustees and then presented to the Church
Members, meeting for acceptance at its Annual General Meeting (AGM).
The salaries of employed staff. and the ministerial stipend are reviewed annually in private by
the Trustees. The Church ensures that all employees are paid at or above the National Living
Wage and that the ministerial stipend is at or above that recommended by BUGB.
The Chur¢h's Aims and Objectives
The Church's principal purpose is the advancement of the Christian faith according to Ihe
principles of the Baptist denomination. The Church may also advance education and carry out
other charitable purposes in the United Kingdom
so called 'Home Mission, andlor in olher
parts of the world through financial support, or other means. The Church's premises are held
by the Baptist Union Corporation Ltd Ihrough a Trust which is entirely compatible wtth the
Charity's objecb'ves.
The Church is committed lo enabling as many people as possible to worship at the Church
and to become part ofthe Church's communrty. It aC￿pt$ the Inclusive Church Slalement=
"We believ8 in inclusive Church- a Church whKh celebrates and affim7s every person
and does not discriminate.
We will continue to challenge the Church where it continues to discriminate against
people on grounds of disability. economic power, ethnicity, gender, gender identity,
learning disability, mental health, neurodiversky, or sexuality.
We believe in a Ghurch which welcomes and serves all people in the n8me of Jesus
Christ,. which is scriplurally faithful,. which seeks toproclaim the Gospel afresh for each
generation,. and which, in the power of the Holy Spirit, allows all people to grasp how
wide and long and high and deep is the love of Jesus Christ."
Our Se￿ICe$ and worship pul faith into practice through prayer, scripture reading, teaching,
music and participating in Holy Communion.
Our facilities are open seven days a week to provide a welcoming communty hub for those
with a Christian faith, other faiths and of no faith, where they may be accepted, supported.
encouraged and learn more about the Christian faith. whether they live locally or travel from
further afield.

Publi¢ Benefft
The Trustees have paid due regard to guidance issued by the Charity Commission in deciding
what activities should be undertaken by the Church and, in particular, the specific guidan
for the advancement of religion for the public benefit.
The community facilities at Ararat are widely used by the local community. External
organisations including political parties, the Blood Donation SeNice, support groups, fitness
and exercise classes etc. take place regularly. Rooms are available freely for Church activities
or can be hired at a compelitive rate. A luncheon club is available each week for those over
the age of 60.. many of those attending live in the lo¢alrty but are not Church members. The
Church sanctuary also is available to members of the local community for weddings, blessings
and funerals, and free of charge to local schools for seasonal concerts. The Church grounds
are open for members of the community to come and sit and enjoy the peaceful environment,
or to picnic on our lawns. The extension opened in 2018 which houses our coffee shop is back
to receiving over 1,000 visitors a week aftei a dip during the Covid pandemic. The general
public use the facilities lo meet up with friends in a comfortable, contemporary and stylish
environment where they all receive a warm welcome. There are no restriclions on anyone
attending our Church or community facilities which are accessible to all and inclusive of
everyone.
Activtties and Achievements
The Church is led by our minister. Rev Gethin Russell-Jones, supported by our Children and
Families, Worker. Mrs Rachel Powell. During 2023, thework ofthe Church was also supported
by a Minister-in-training, Mrs Hannah Buckley and a prospective ministerial candidate, Mrs
Lena Kelleyan. The Church is fortunate in having a number of retired clergy within its
congregation who assist the ministerial team and lead a mid-week service. During the year
our minister reduced his working week by one day with the approval of the Church
membership to work as a counsellor for a local College.
In January 2023. three Trustees We￿ required to stand down having completed full terms
of service, three new Trustees were elected by the Church, commencing their 3-year period
of setvice that same month.
Since the Covid pandemic, Ararat has continued to make good use of social media channels
to facilitate its weekly pattern of Christian worship. Our presence via Zoom. and YouTube has
enabled folk from further afield to participate in our services, including someone from
Switzerland. The Church's pattern of Sunday evening worship now takes place predominantly
on social media.
Ararat encourages friendships and fellowship by offering 'house groups.. These groups vary
in size from five to fifteen and there are usually about ten groups operational at any one time.
Some groups meet in the homes of Church members, others at the Church itself and one
meets in a local pub. All provide a mixture of Christian teaching, social interaction and prayer.
They are open to anyone who wishes to join a group and there are several people attending
who are members of the community and not regular Church attendees.
new development in 2023 has been the holding of two services a month in local
residentiallnursing homes. This is welcomed by those who are unable lo attend Church due
to illness and frailly. Other older members, or those who for various reasons are no longer
able to come lo Church, are regularly visited by a team of Irained pastoral workers. These
volunteers work closely with the minister lo provide support and comfort to those individuals
who are often lonely and single. Where requested, they are able to provide Holy Communion
in people's own homes. Pastoral work is overseen by a new coordinator, who look on the role
this year. The Church has a policy in place to protect lone-workers and all involved in pastoral
Care are DBS checked.

Ararat has 8 very active work amongsl children and their families led by our Children and
Families, Worker. There are regular 'Messy Church, events and Holiday Clubs which are
extremely popular amongst families in the community and are frequently fully booked within a
few days of being advertised. In addition. the Church has active Boys, and Girls, Brigades
which meet weekly and provide meaningful activity for children and the youth in the
community- Those attending participate occasionally in Sunday seNices.
Although Ararat has many children it has few teenagers. Attempts have been made this year
to employ a youth WOTkerlminister to assist in providing for this small bul important group within
the Church.. sadly, we have been unable to find anyone interested in the role. This need
¢urrently therefore remains unmet.
Ararat is a growing Church. During the year the Church has been pleased to welcome new
folk into membership and there have been Baptismal services. As with all Church
congregations some people move away, and others die but the membership has remained
fairly constant at 200.
The current sanctuary was opened in 1914 and is fairly typical in its style with an entrance
vestibule, a large space downstairs furnished with pilch-pine pews and a gallery on three-
sides again furnished with pews. A signrficanl change took place during the year when afler
significant debate the Church members agreed to the removal of the downstairs pews and
replacing them wtlh upholslered individual chairs. This project is part of a wider plan to
modernise the sanctuary in order to make it more fit for contemporary styles of worship. The
change has generally been welcomed by the Church, and the increased flexibilty has allowed
the space to be used much more flexibly both for worship services and also for community
activities.
The new seating in the sanctuary was funded by a significant legacy received in 2021 of
£350,000 which was earmarked for maintenance (see the Financial Review). The Church has
undertaken various surveys during the year, in particular looking al the state of the sanctuary
roof and the roofs ot the rest of the buildings on the Church sile. Whilst most of the buildings
require fairly minor repairs the sanctuary requires complete re-roofing. Preparatory works
have been undertaken during the year to enable a new roof to be installed during 2024. This,
too, will be funded from the 2021 legacy
Ararat has a Safeguarding Policy in place, a Designated Person and a deputy for safeguarding
and has a system in place for DBS checks for all those working with minors and vulnerable
adults. One trLtstee takes a special interest in safeguarding and is part of Ihe safeguarding
team.
The Church's communtty am is known as 'The Ark,. Attached lo the Church sanctuary are
several buildings which provide a home for many of our community groups and activities
including our bright, modem and stylish community café. During 2023 a new Café Manager
has been appointed and she has led a series of catered events which have been extremely
well received by those who attended. There have been celebratory teas for St Dwynwen's
Day. St David's Day, Easter and Christmas. The increased café activity has required additional
paid staff to work alongside the team of volunteers with there being three part-time baristas
now employed within Ihe team. The Ark Café was delighted to receive a five-star hygiene
rating.
The Church's missional aclivities are not restricted to its immediate locality. Ararat contributes
financially to work amongst other Baptist Churches in the UK through its Home Mission fund
and also to the global work of Baplist World Mission and Christian Aid.
As a Church we are Concerned aboth the world we live in seeking to protect it and cherish it
as far as we are able. The Church has established an Eco-church group that is reviewing our
energy usage, our carbon footprint, ways in which we can enact social justice through Fair

Trading schemes and reduce waste through more rigorous recycling. Together we are working
towards obtaining a 'Bronze award,.
As part of thè wider Church and a member of BUGB, the Church participated in a UK-wide
consultation on the 'Ministerial Rules, during 2023. This consultats'on related to the issue of
same-sex relalionships. Ararat appended an additional question to the Con5uttation which
was completed by Church members. The consultation attracted a 430/0 response rate. Of
Ihose who responded a majority supported a change to the Minisleiial Rules lo allow for same
sex relationships amongsl the clergy and also indicated a favourable response lo changing
the Church's License to allow for same-sex weddings to take place in the sanctuary. This
matter, along with that of 'same sex blessings,, will be subject lo further debate and a vote
during 2024.
As a growing Church issues of responsible management and good governance are paramount
and during 2023, we have employed an Operations Manager to assist the Minister and
Trustees with its organisalion, governance and administralion.
Financlal Review
The Financial Statements have been prepared in ac¢ordance with the accounting policies set
out in Note 1 to Ihe Financial Statements and comply with the Charity's governing document,
the Charities Act 2011 and "Accounting and Reporting by Charities.. Slatement of
Recommended Practice applicable to Charites preparing their accounts in accordance with
the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102)
(effective 1, January 2019}.
In the Financial Stalements for 2022, lotal reseTves {i.e. Charity Funds) were reported al
£6,618,826. However, these have now fallen to £3,619,145 solely as a result of a fundamental
change in the valuab.on of all the propety owned by the Church. Since the inception of the
charity in 2009, Ihis property has been valued according to the insurance rebuild value as
determined by the Insurance Company as there was no reliable cost information available, but
the auditors appointed for 2023,Ihaving taken te¢hnical and regulatory advice from the
Institute of Chartered Accountants in England & Wales), consider this basis does not equale
to'fair value. as required by FRS 102. Consequently, the Church buildings have been reverted
back to historic cost using 'deemed cost. on transition to FRS 102 lin 2016Fplus annual
additions less depreciation, and the investment property (Ihe former manse) al market value.
The Financial Statemenls for 2022 have been restaled to reflecl this major change - hence
the figure for reserves staled above, which therefore excludes all the annual revaluation
increases in the insured value since 2016.
The results for the year 2023 as reported in the Financial Statements show an overall defi¢il
of expenditure over income of £90,832 (2022 restated sU￿lUS - £8,913). However, for the
actual running of the Church itself. the deficit was £65,050 (2022 restated deficit- £26,658).
Total reserves at 31SI December 2023 were £3,528,313 (2022 resl8ted- £3,619, 145).
2019 L
ac
A legacy of £600,000 had been received in 2019. During the year, it was used to continue the
funding of the Ark Team Leader, to purchase and install a new kitchen oven, and to provide
cash flow resources for the Current Account. At 31° De¢ember 2023 the remaining balance
was £171,000.
2021 Le
ac
As referred to above, a legacy of £350,000 was bequeathed to the Church in 2021, the tem)s
of the Will expressing the donor's wish that rt be used for maintenance and building works.
During the year, it was used lo fund the purchase of the chairs, professional fees in connection
with the repurposing of the sanctuary and initial roof survey, essential electrical repairs, and
various other maintenance costs. The balance at 31. December 2023 was £301.000. It is

likety that the substantial part of this balance will be used in 2024 for the roof renewal and
repairs (referred lo previously).
Financial Reserves Pollcy
In 2021, the Trustees reviewed and amended the Financial Reserves policy to state that they
considered it prudent to hold a reserve of at least £35,000 which would Cover months of
essential expenditure. At the year-end, a￿hOUgh the bank balance in the various Cuffent
Accounts was £32, 000, the Trustees consider the position to be salisfactory as there was
further £87,000 held at the Kingdom Bank and £397,000 on deposit., a total of £516,000.
Rlsk Management
The Trustees have a duty to identify and review the risks to which the charity is exposed and
to ensure appropriate controls are in place to provide reasonable assurance against fraud and
error. Having assessed the risks, the Trustees are satisfied that systems are in place to
mitigate exposure to the major ones. Internal control risks are minimised by the
implementation of procedures for all transactions and projects. Procedures are also in place
to ensure compliance with Ihe heallh and safety of staff, volunteers and visitors to the Church,
Communty Centre and the ChLtrch Café.
Golng Forward
Next year, 2024 will be the 200 anniversary of the founding of the Church and preparation is
already underway to ensure that this milestone is marked approprialely with praise. worship,
celebration and fun. A full programme of other activities will be prepared by the beginning of
the year. During the autumn of 2023 a children's Choir was created to participate along with
members ofthe Church in preparing for a Pantomime, 'The Glass Slipper, to be performed in
early January 2024. Many of the children involved are from the local community.
As outlined earlier, the Church has also been preparing to spend the 2021 legacy on replacing
its ageing roof and repairing other roofs across ils estate and any remaining monies will be
spent on modernising the sanctuary to make it a more appropriate worship space for the 21 $t
century.
We are mindful that legacy monies are finite and careful attention will need to be given to the
Church's income and expenditure to ensure that when the legacy monies are exhausted thal
we are able to balance the books. The 'cost of living. crisis ha5 affected the Church as it has
others with significant hikes in utility expendrture not being met by similar increases in the
Church's income. Savings may need to be made along with increasing income revenue
streams.
The success of the Ark Café has brought the Church's VAT-able income close to the threshold
at which we must register to pay VAT. It is likely Ihal we will need lo buy-in appropriate
expertise to assist with the registration process.
A decision taken in 2019 to pursue Charitable Incorporated Organisation (CIO) status was not
pursued for various reasons and will need to be reconsidered in the year ahead.
We continue to pray about how best to meet the needs of the teenagers and younger adults
in our Church communrty and will further consider our options in this regard.

ARARAT BAPTIST CHURCH
REPORT OF THE TRUSTEES
FOR THE YEAR ENDING DECEMBER 319t 2023
Reference and Administrative Details
Reglstered Charlty Number: 1132808
Principal offi￿.. Ararat Baptist Church, Plas Treoda, Whitchurch, Cardiff CF14 1 PT
Trustees as at December 31 2023
Rev. Gethin Russell-jones (Minister)
Mrs Sonia Conway {Se¢retary} - (Retired January 31 gt 20241
Mrs Carolyn Higgins- Deacon
Dr Vaughan Williams - Chair of the Trusteès, Dèacon and co-secretary
Mrs Julie Gibbs- Deacon- Resigned April 16" 2024
nd
Mrs Rhiannon Scott- Deacon- Resigned July 2 2024
Mrs Jayne Porter- Deacon and co-secretary
Mr Paul Burnell - Deacon- Resigned February 1 $1 2023
Mrs Jennifer Lewis- commen¢ed January 1" 2024
Mrs Sylthia Hilary Evans- commenced January 1st 2024
Mr Gareth Witts- commenced January 1" 2024- Resigned October 11" 2024
Mrs Sally Rees- commenced January 1st 2024
Mrs Karen Kaneen- ¢ommen¢ed January 1" 2024
Property Trustees
The Baptist Union Corporation Ltd, Baptist House. 129 Broadway, Didcot. Oxon OX118RT
BankeryJ
The Cooperative Bank plc, PO Box 101, Balloon Slreet, Manchester, M4 4BE
Auditors
Bevan Buckland LLP, Ground Floor. Cardigan House, Castle Court, Swansea Enterprise
Park, Swansea SA7 9LA

ARARAT BAPTIST CHURCH
REPORT OF THE TRUSTEES
FOR THE YEAR ENDING DECEMBER 31tst 2023
Trustees, Responslblllties in Relation to the Financial Statements
The Trustees are responsible for preparing the Trustees, Report and the Financial Slatemenls
in accordance with applicable law and United Kingdom Accounling Slandards (United
Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England and Wales requires the Trustees to prepare
Financial Statemenls for each financial year which give a true and fair view of the state of
affairs of the charity and of the incoming resources and application of resources of the charity
for that year.
In preparing these Financial Statements, the Trustees are required lo..
seled suitable 8ccounling policies and then apply them ￿nsIstentIy',
observe the methods and principles in the Chartties SORP.
make judgements and eslim8te$ that are reasonable and prudent..
st8te whether applicable accounting slandards have been followed, subject to any material
departures disclosed and explained in the Financial Statemenls,. and
prepare the Financial Statements on the going concern basis unless it is inappropriate to
presume that the charity will continue in operation.
The Trustees are responsible for keeping sufficient accounting records that disclose with
reasonable accuracy at any lime the financial position of the charity and enable them lo ensure
that Ihe Financial Statements comply with the Charrties 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 charity and hence for laking reasonable steps for the
prevention and detection of fraud and other irregularities.
The Trustees are responsible for the maintenance and inlegrity of the charlty and financial
information included on the charity's website. Legislation in the United Kingdom governing the
preparation and dissemination of Financial Statemen1$ may differ from legislation in other
jurisdictions.
Approved by order of the Board of Trustees on October 1 P 2024 and signed on their behaif
by:
Rev T G RUSsell￿oneS
Mlnisler
Wllllams
ecretary
MrsJ
orter
Go-Se¢retary

Independent auditor's report to the trustees of Ararat Baptist
Church
Opinion
We have audited Ihe financial statements of Ararat Baptist Church ('Ihe Charity'l for Ihe year
ended 31 December 2023 which comprise the Statement of Financial Activities, the Balance
Sheel, the Cash Flow and notes lo the financial statements. including significant accounting
policies. The financial reporting framework that has been applied in their preparation is applicable
law and United Kingdom Accounting Standards (United Kingdom Generdlly Accepted Accounting
Practice).
In our opinion, the financial ststements:
give a true and fair view of the state of the charity's affairs as at 31 December 2023 and of its
incoming resources and application of resources for the year then ended..
have been properly prepared in a¢¢ordance with United Kingdom Generally Accepted
Accounting Pr8Ctice: and
have been prepared in accordan￿ wrth the requirements of the Charitl8s Act 2011.
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) IISAS IUKI)
and applicable law. Our responsibilities under those standards are further described in the
Auditor's responsibilities for the audit of the financial statements section of our report. We are
independent of the charity in accordance with the ethical requiremenls thal are relevant to our
audit of the financial statements in the UK, including the FRC'S Ethical Slandard and we have
fulfilled our other ethical responsibilities in accordance wilh Ihe5e requirements. We believe that
the audit evidence we have obtained is sufficient and appropriate to provide a basis for our
opinion.
Conclusions relatlng to going concern
In auditing the financial statements, we have concluded that the director's use of the going
concern basis of accounting in the preparalion of the financial statements is appropriate.
Based on the work we have perfomed, we have not identified any material uncertainties relating
lo events or conditions that, individually or collectively, may cast significant doubt on the charity's
ability to continue as a going concern for a period of at least 12 months from when the financial
statements are aulhorised for issue.
Our responsibilities and the responsibilities of the d1￿ClOr$ with respect to going concem are
described in the relevant seclions of this report.
Other matters
The financial statements of the Charity for the year ended 31 December 2022 w8s not audited.
Sufficient and appropriate audit evidence was obtained to ensure the opening balances do not
contain misstatements that materially affecl the current period's financial statements.

Other information
The other infomiation comprises the infomiation include(l in the annual report. including the
trustees, report, other than the financial statements and our auditor's report thereon. The trustees
are responsible for the other information contained within Ihe annual report. Our opinion on the
financial statements does not cover the other information and, except to the exlenl othemise
explicitly slated in our report. we do not express any form of assurance conclusion the￿On.
Our responsibility is lo read the other infomiation and, in doing so. consider whether the olher
information is materially inconsistent with the financi81 statements, or our knowledge obtained in
the course of the audit, or othetwise appears to be materially misstated. If we identify such
materi81 inconsistencies or apparent materi81 misstatements, we are required to determine
whether this gives rise to a material misstatement in the financial slatemenls themselves. 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 ￿gard.
Matters on which we are required to report by exception
In the light of the knowledge and understanding of the charity and its environment obtained in the
course of the audit, we have not identified material misslatemenls in the trustees, report.
We have nothing lo report in respect of the following matters in relation to which the Charities
(Accounts and Reports) Regulalions 2008 require us to report to you if, in our opinion..
the information given in the Irustees, report is inconsistent in any materi81 respect with the
financial statements., or
sufficient accounting records have not been kept- or
the financial statements are not in agreement with the accounting records,. or
we have not leceived all the infomation and explanations we require for our audit.
Responsibilities of trustees
As explained more fully in the trustees, responsibilities statement, the Irustees are responsible for
the preparation of the financial stalements and for being satisfied that they give a true and fair
view, and for such internal conlrol as Ihe trustees determine is necessary lo enable the
preparation of financi81 statements thal are free from material misstatement, whether due to fraud
or error.
In preparing the financial statements, the trustees are responsible for assessing the charity's
ability to conlinue as a going concern, disclosing, as applicable, matters related to going concem
and using the going cOn￿M basis of accounting unless the trustees either intend to liquidate the
charity or lo cease operations. or have no realistic altemative but to do so.
10

Auditor's responsibilities for the audit of the financial ststements
Our objectives are to obtsin reasonable assurance a￿ut whether the financial slatements as a
whole are free from material misstatement, whether due to fraud or error. and lo issue an auditor's
report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a
guarantee that 8n audit conducted in accordan￿ with ISAS {UK) will always detect a material
misstatement when it exisls.
Misstatements can arise from fraud or error and are considered material rf, individually or in the
aggregate. they could reasonably be expected to influence the e¢onomic decisions of users taken
on Ihe basis of these financial statements.
Irregularities. including fraud, are instances of non-compliance wlth laws 8nd regulations. We
design procedures in line with our responsibilities. outlined above, to delect material
misstatements in respect of irre9ularities, including fraud. The extent to which our procedures are
capable of detecting irregularities, including fraud is detailed below..
We identify and assess the risks of material misstatement of the Fin8ncial Statements, whether
due to fraud or error, and then. design and perform audit procedures responsive lo those risks,
includin9 obtaining audit evidence that is sufficient and appropriate lo provide a basis for our
opinion.
We discussed our audit independence complying with the Revised Ethical Standard 2019 with
the engagement team members whilst planning the audit and continually monrtored our
Independen￿ Ihroughout the process.
Identlfying and assessing potential risks related to irregularilios
In identifying and 8sses$ing risks of malerial misstatement in respect of irregularilies, including
fraud and non-compliance with laws and regulalions, our procedu￿8 included the following..
enquiring of management, including obtsining and reviewing supporting documentation,
concerning the charity's policies and procedures relating to-
identifying, evaluating and complying with laws and regulations and whether they were aware of
any instances of non-compliance..
detecting and responding to the risks of fraud and whether they have knowledge of any actual.
suspected or alleged fraud,.
the intemal controls established to mitigate risks related to fraud or non-compliance with laws
and regu18tions'
discussing among the engagement team how and where fraud might occur in the Financi81
statements and any potential indicators of fraud. As part of this discussion. we identified polential
for fraud in the following areas..
Management override of controls.. and
obtaining an understanding of the legal and regulatory frameworks Ihat the charity operates in,
focusing on those laws and regulations Ihat had a direct effect on the Financial Statements or that
had a fundamental effect on the operations of the charity, The key laws and regulations we
Considered in this context included the UK Companies Act and relevant tsx legislation.
11

Audlt response lo rlsks Id•ntifigd
In addition to the above, our procedures to ￿Spond to risks identified included the following:
reviewing the financi81 st81emenl disclosures and testing to supporting documentatron to assess
compliance with relevant laws and regulations;
enquiring of management concerning actual and potential litigation and claims.. performing
analytical procedures to idenlify any unusual or unexpected relationships that may indicate risks
of material misslatement due to fraud;
reading minutes of meetings of those charged with governance and reviewing correspondence
with HMRC., and
in addressing the risk of fraud through managemenl override of controls, testing the
appropri8teness of joumal enlries and other adjustments.,
assessing whether the judgements made in making accounting estimates are indicative of
potential bias,. and
evaluating the business rationale of any significant transactions that are unusual or outside the
normal course of business.
We also communicated relevant identified 18ws and regulations and potential fraud risks to all
engagement team members and remained 8lert to any indications of fraud or non-compliance
with laws and regulations throughout the audit.
Use of our report
This report is made solety to Ihe ¢h2rity's trustees, as a body, in accordance with The Charities
Act 2011. Ourauditwork has been undertaken so thatwe might state tothetrusleesthose matters
we are required to state to them in an auditor's report and for no other purpose. To the fullest
extent permitted by law. we do not accept or assume ￿SponsIbl11ty lo anyone olher than the
charity's trustees as a body, for our audit work, for this report, or for the opinions we have formed.
E15gibility
Bevan Buckland LLP is eligible for appointment as auditor of the charily by virtue of its eligibility
for appointment as auditor of a company under section 1212 of the Companies Act 2006.
Bev8n Buckland LLP
Ch8rtered Accountants
And Statutory Auditors
Ground Floor, Cardigan House
Castle Court
Swansea Enterprise Park
Swansea
SA7 9LA
Date..
/.rf.,:la.p.l.+................................
12

ARARAT BAPTIST CHURCH
STATEMENT OF FINANCIAL ACTIVITIES
YEAR ENDED 31st DECEMBER 2023
Note Unrestricted Rgstricted
TOTAL
2022
Rèstat
Income
Donations and Legacies
Charitable Activities
Investment Income
Other Income
Total Income
130,159
110,183
16,676
253
257.271
7,261
137,420
110,183
20.479
553
268,635
127.224
94,082
14,634
1,765
237,705
3,803
300
11.364
Expendlture
Charitable Activities
Total Expenditurg
352,323
352,323
22,379
374,702
374,702
289.784
289,784
Income I I•xpgnditure) for the year
195,0521 {11.015} 1106,0671
152,0791
Other rocognised galns I Ilosse8)
Revaluation gains l {lossesl on fixed assets
Revaluation gains on investment assets
12.
15,235
15,235
60,992
Ngt Movomgnt in Funds
79,817
11,015
90,832
Reconciliation of Funds
Totsl Funds brought forward restated
3,265,616
353,529 3,619,145
3,610,232
Total Charity Funds ¢arrSed forward
3,185,799
342,514 3,528.313
3.619,145
Comparative figures for 2022 are in Note 27.
All incoming resources and resources expended derive from continuing activities
The Statement of Financial Activities includes all gains and losses recognised in the year.
The Notes on pages 16-28 form part of the Financial Statements
13

ARARAT BAPTIST CHURCH
BALANCE SHEET
YEAR ENDED 31st DECEMBER 2023
Note
2023
2022 Reststed
Fixèd Assets
Tangible Fixed Assets
Investments
2,716,365
315,000
3.031.365
2,726,445
300,000
3,026,445
12.
Current Assats
Stocks
Oeblors & Prepayments
Bank
669
7,804
516,536
525,009
1,079
2,871
597,101
601,051
13.
14.
Current Liabilitigs due within one year
Creditors
15.
28,061
(28,061)
8,351
{8.351)
Net Current Assets
496.948
592,700
Total Net Assets
3.528,313
3.619.145
Charlty Funds
Reslricled funds
Unrestricted funds..
Designated funds
16.
17. 3.005,412
18.
180,387
342.514
353,529
3,036,076
229,540
3.185,799
3.265,616
Total Charity Funds carrled forward
3,528,313
3,619.145
al
ments were appro
edby
Trustees on October 17 2024
Rev G Russel
Minister
es
r V Williams
Secretary
J Porter
Co-secretary
14

ARARAT BAPTIST CHURCH
STATEMENT OF CASH FLOWS
YEAR ENDED 31st DECEMBER 2023
Note
2023
2022
Restated
Net cash providgd byl(used In) oparating activitles
24.
28,749
307,648
Cash flows from investing activltles..
Purchase and revaluation of fixed 2nd investment assets
Net cash provided byl{usod inl invgstlng activities
11.,12.
51,816
51,816
67,703
67.703
Change in ¢ash and cash equivalgnts durlng the year
{80.565)
239.945
Cash and cash trquivalents at beginning of year
14.
597,101
357,156
Cash and cash equlvalents at end of year
14.
516.536
597,101
15

ARARAT BAPTIST CHURCH
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31st DECEMBER 2023
1. Accounting Policles
1.1 Charity Information
lal Ararat Baptist Church is an unincorporated charity whose registered address is Plas Treoda,
Whilchurch, Cardiff CF14 1 PT
Ibl As the Charity is an unincorporated entity, its property is owned as Custodian Trustee by the
Baptist Union Corporation Limited. Didcot OX118RT {charity number 249635}.
1.2 Basis of Preparation
The Financial Sialemenls have been prepared in accordance with the Charills governing document,
the Chartlies Act 2011 and "Accounting and Reporting by Charities.. Statement of Recommended
Practice applicable lo charities preparing their accounts in accordance with the Financial Reporting
Standard applicable in the UK and Republic of Ireland {FRS 1021
leffeclive 1 January 20191"
The Financial Slalemenls have been prepaied under the historical cost convention apart from values
associated with Church buildings and related fixtures and fittings.
The Church conslilutes a Public Benefit Entity as defined by FRS 102.
1.3 Golng Concern
The Trustees consider that there are no material uncertainties about the Church's ability lo continue
as a going concern.
1.4 Crltical A¢countSng Estlmates and Judgements
The preparation of Ihe Financial Slalements requires the Trustees lo make judgements, eslimales
and assumptions that affect the amounts reported for assets and liabilities as al the Balance Sheet
dale and the amounts reported for revenues and expenses during the year. The eslimales and
associated assumptions are based on historical experience and other relevant factors. However, the
nature of eslimalion means that 8¢tual outcomes could be different.
1.5 Income Recognition
Income is recognised in the Slalemenl of Financial Activities on the following basis..
(a} Planned giving, collections and donations are recognised when the Church has been notrfied in
writing of both the amount and settlement dale. In the event that a donation is subject lo
conditions that require a level of performance before the Church is enlilled lo the funds, the
income is deferred and not recognised until either those conditions are fully mel, or the fulfilment
of those conditions is wholly within the control of the Church and it is probable that those
conditions TMII be fulfilled in the reporting period.
(b} Interest on funds held on depos11 is induded when reoeivable and the amount can be measured
reliably by the Church, normally on nolificalion by the bank.
(cl Income Tax recoverable on donations under Gift Aid is recognised al the same lime as the
corresponding donations..
{dl Legacies are recognised either on receipt, or otherwise rf the Church has been notrfied of an
imper¢ding distribution, the amount is known. and receipt is expected. If the amount is not known,
or conditions are allached which have not been fulfilled, the legacy is treated as a conlingenl
asset.
lel Government grants, e.g. Furlough grants, are recognised only when they have been received.
If) Rent, room hire and fees for weddings and funerals are ￿Cognised on a receivable basis.
1.6 Expenditure Recognition
(al Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation
commilling the Church lo that expenditure, it is probable that a transfer of economic beriefils will
be required in selllemenl and the amount of the obligation can be measured reliably.
Ibl Expenditure is accounted for on an accruals basis.
16

ARARAT BAPTIST CHURCH
NOTES TO THE FINANCIAL STATEMENTS
CONTINUED
YEAR ENDED 31st DECEMBER 2023
1. Accountlng Policies {continuedl
1.6 Expgnditure Recognition (continued)
Ic) Grants payable are payments made lo third parties in the furtherance of the charitable objects of
the Church. In the Case of an unconditional grant offer this is accrued once the recipient has been
notified of the grant award.
Provisions for grants are made when the intention lo make a grant has been communicated to the
recipient bul there is uncertainly as lo the liming or amount of the grant.
1.7 Raising funds
Raising funds includes all expenditure incurred by the Church lo raise funds for ils charitable purposes
and includes costs of all fundraising activities, events and non-charitable trading, and an
apportionment of support and governance costs.
1.8 Charitablg actlvltles
Costs of charitable activities cover all expenditure relating lo the furtherance of the Church's
objectives, including an apportionment of support ané governance cost5.
1.9 Support and Governance costs
Support costs are those that assist the work of the Church bul do not directly represent charitable
activrties and include office and associated costs.
1.10 Apportlonment of Support and Governance costs
Support and governance costs have been apportioned lo the cost of raising funds and expenditltre on
charitable activities on a basis consislenl with the use of resources.
1.11 Tangible Fixed Assets
All assets costing more than £1,000 are capitslised.
Value of Church Buildings
The Church bL¢ildings have historically been accounted for at insurance value. This approach had
been adopted because there was no reliable cost information available. As a result of the
transition to FRS 102 the Trustees look the insurance cost for Church buildings and related
Fixtures and Fittings {bul excluding the Investment Propety} of £2,668,585 as al transition dale
11 st April 20141 and used this as deemed cost going forward, with the insurance values at the
annual renewal being adopted rf the changes on the previous year were deemed lo be material.
However, recent professional and technical advice is that basis does not represent "fair value"
and the accounting policy has been changed for 2022 onwards. This 'deemed cost" al 1st April
2014 has been accepted as the cost brought forward as 1st January 2016, adjusted by the
additions and disposals in each subsequent year.
Depreciation has also been charged in each year on the bases outlined below.
Impainnent of assets
At each reporting end date, the Lmurch reviews the carrwng amounts ol Ils langitsle assets to
determine whether there is any indication that those assets have suffered an impairment loss. If
any such indication exists, the recoverable amount of the asset is eslimaled in order to determine
the exlenl of the impairment loss lif any).
Depreciation
As a result of the changed method of calculating the gross cost of fixed assets, from 2022
depreciation is provided on freehold land and buildings over 100 years.
Furniture, Fixtures, Fittings & Equipment are éeprecialed over 6 years.
Plant 15 depreciated over 10 years.
1.12 Stocks
Stocks of unsold catering supplies in The Ark are valued at cost.

ARARAT BAPTIST CHURCH
NOTES TO THE FINANCIAL STATEMENTS
CONTINUED
YEAR ENDED 31st DECEMBER 2023
1. Accounting Pollcies (continued}
1.13 Investrnont Property
The former Church manse at Plas Treoda has been let for rental as two flats for a number of years,
and is classed as an investment property. The method of valuation in the Balance Sheet of this
investment property was previously consislenl with that of the main Church buildings but, as
explained in Note 1.11, this method has been discontinued from 2022. However, unlike the Church
buildings, the insurance valuations for the investment property from the "deemed cost. of £177,440
in 2016 have been continued until 2021.. from 2022 onwards a market value will be determined
professionally at 31 st December annually.
M8terial differences from year lo year will be accounted for in the Financial Slalemenls.
1.14 Taxation
The Church is exempt from lax on ils charitable activities.
1.15 Fund accounting
Unreslricled "General" funds can be used in accordance with the charitable objectives of the
Church al the discretion of the Trustees.
Designated funds are unrestricted funds pul aside for a specific project or aim.. they can be returned
lo the General unreslricled funds al any lime provided the decision is taken by a quorum of
members al the Church meeting. For reporting purposes they are combined wlh unrestricted funds
and termed "Unrestricted"
Restricted funds can only be used for particular restricted purposes wthin the objects of the Church.
Reslriclions arise when specified by the donor or when funds are raised for particular restricted
purposes.
Furthef explanation of the nature and purpose of each fund is included in the Notes lo the Financial
St21emenls,
1.16 Penslon costs and other post-retirement benefits
The Church operates Defined Contribution plans for its employees, with various separate pension
providers. Once the agreed contributions have been paid the Church has no further payment
obligations. The contributions are recognised as an expense when they are due.. amounts not paid
al the year end are shown in creditors in the Balance Sheet.
1.17 Groups
There are a number of organisalions {'Groups"l operating within the church which are consolidated
as part of charitable activities, as they provide local outreach from the Church premises. Their funds
are classified as Designated. The Church Trustees have overall responsibility for the management
of these Groups.
18

ARARAT BAPTIST CHURCH
NOTES TO THE FINANCIAL STATEMENTS
CONTINUED
YEAR ENDED 31st DECEMBER 2023
Unrestrlcted Restrlct•d
TOTAL
2022
RL4tAt&d
2. Donations and Legacies
Offerings l Donations
Tax refunds
Legacies
Total
105,127
24,932
100
130,159
6,421
840
111,548
25,772
100
137,420
102,712
24,512
7.261
127,224
3. Charitsblo Activities
Children, Families. & Youth Ministry
Income from The Ark
Hire Income
Ministry Income (incl Groups - Nole18.)
Total
10,839
63,121
29,512
6,711
110,183
10,839
63.121
29,512
6,711
110,183
9,603
50,099
29,569
4,811
94,082
4. Investment Incom8
Rent received
Bank interest
Total
13,284
3,392
16,676
13,284
7,195
20.479
13,284
1,350
3,803
3,803
5. Other In¢ome
Grants
Other charitable income
Total
1,000
765
1,765
253
253
300
300
553
553
6. Charitable ktivities
Ministerial
Mission {incl Groups - Note 18.1
Ministry Donations I grants {Nole 8.1
Premises
Maintaining investment
Miscellaneous
61,426
121,437
26,571
41,815
3,411
2,719
257.379
94,944
352,323
61,426
122,778
26,571
57,423
3,411
2,719
274,328
100,374
374.702
53,920
85,416
33,279
36,423
4,189
1,384
214,611
75,173
289,784
1,341
15,608
16,949
5,430
22,379
Support + Governance costs (Note 7.)
Total
7. Support Costs
Staffing
Office Costs
Depreciation
Finance costs
Total
27,151
13,871
39,992
40
81,054
27,151
13,947
45,346
40
86,484
12,017
18,720
41,722
14
72,473
76
5,354
5.430
Governance Costs
Audit I Independent Examination
Other governance costs
Total
13,230
660
13.890
13,230
660
13,890
2,700
2,700
19

ARARAT BAPTIST CHURCH
NOTES TO THE FINANCIAL STATEMENTS
CONTINUED
YEAR ENDED 31st DECEMBER 2023
Unrestrlcted Restrlct•d
TOTAL
2022
Restated
8. Donations l Grants
BMS World Mission
Cardiff Baptist College
Baptist Union Home Missio
10,500
2,499
9,499
22,498
10,500
2,499
9,499
22,498
10.500
2,500
9,500
22.500
9. Staff Rémuneration and Benefits
2022
Restated
Wages and salaries
Social security
Other pension cosls
139,694
105,086
5,373
2,760
9,213
7,527
154.280
115373
No employee received more than £60.000 during the year.
Rev G Russell-Jones {Trusleel received remuneration lincluding gross salary, employer's
national insurance and employer's pension conlribulionsl lolalling £46,777 (2022 £47,391)
for his services as Minister during the year. From September 2023, he reduced his weekly
hours by 200/0.
The key management personnel comprise the Trustees and the Minister.
During Ihe year, no Trustees received expenses in connection wlh their roles as Trustees.
During the year, £12.045 was received in donations from 7 Trustees and related parties
(2022 £16, 715 from 9 Trustees and related parties).
10. Staff Numbers
The average number of employees during the year was..
Full Tlme
Part TSme
Total
2022
Restated
Ministerial
Mission
Premises
Support
Pension contributions are paid lo Defined Contribution private pension schemes on behalf of
the Ministers. The total amount paid into these schemes by the Church was £3,875 (2022
£4, 152)
One staff member is in the Baptist Pension Scheme which is a Defined Contribution
s¢heme. The amount paid into this Scheme was £2,300 (2022 £1,994).
20

ARARAT BAPTIST CHURCH
NOTES TO THE FINANCIAL STATEMENTS
CONTINUED
YEAR ENDED 31st DECEMBER 2023.
11. Tangible Fixad Assets
restrlcted
R•stri
Totsl
Church
Church
Flxtur•s,
Property Fittlngs, Restrlcted
Propèrty
{oxcluding
hurch
lexcludlng Equlprn¢nt ￿ investm•nt
Pro
Investment & Plant property)
propertyl
Church
Fixtures,
Total
Property
Flttlngs, Unrestrlct
l•xcludlng Equipment
Chur
In¥e5tment & Plant
Pro
property)
Cost or valuation
At 1 sl January 2023
Restated
Additions
At 31st December 2023 2,885,758
2,885,758
81,146 2,966,904
6,780
6,780
87,926 2.973.684
4,740
5,600
29,801
35,401
10,340 2,977,244
29.801
36,581
40.141 3.013,825
4,740
Depreciation
At 1 st January 2023
Reslaled
Charge
At 31st December 2023
197,457
28,858
226,315
52,362
12,449
64,811
249,819
41,307
291.126
47
47
933
5,307
6.240
250,799
46.661
297,460
5,354
6,334
Net Book Value
At 31st December 2023 2,659,443
At 31st December 2022
Restated
23.115 2,682,558
29,161
33.807 2.716,365
2.688,301
28,784 2,717,085
4.693
4.667
9,360 2,726,445
Accounting Policy 1.11 explains that the basis of valuing property and related contents changed from 2022. The
amounts shown above al 31 $1 December 2022 reflect the new basis from 2016 to that dale.
This new basis produces significantly lower values Irevaluation loss} and additional depreciation charges than
previously. The revaluation losses from 2016 10 2021 1£2,073,8931 and the additional depreciation charge
1£205.0331 were included in the balances brouqhl forward from 2021 into 2022.
21

ARARAT BAPTIST CHURCH
NOTES TO THE FINANCIAL STATEMENTS
CONTINUED
YEAR ENDED 31st DECEMBER 202
12. Investm¢nts
Property
Flxturè$,
Fitting¥,
Equipment
& Plant
TOTAL
Cost or valuation
Al 1 st January 2023 Reslaled
Additions
298,037
2,350
300,387
298,037
15,235
313,272
2.350
300,387
15.235
315,622
Revaluation
At 31st December 2023
Depreciation
Al 1st January 2023 Restated
Charge
At 31st December 2023
2.350
387
235
622
387
235
622
Nat Book Value
At 31st December 2023
313,272
1,728
315,000
At 31st December 2022 Reststed
298,037
1,963 300,000
The investment consists of a property, the former manse al Plas Treoda, let for rental as two flats.
As slated in Accounting Policy 1.13. the basis for valuation was changed in 2022 to market value..
for 2023 this basis produced a revaluation gain of £15,000 over 2022.
13. Debtors & Prepayments: amounts falllng due wlthln one year-
Unrestrfcted Restrict•d
TOTAL
2022
Restated
Trade debtors
Accrued income
Prepayments
1.012
368
1.012
1,454
565
6,424
7.804
6.424
7,804
852
2,871
14. Bank Balances
Pelly Cash
Current Accounts
Deposit Reserve Accounts
187
31,625
176,017
207,829
187
31,625
308,707 484,724
308,707
516,536
115
45.885
551,101
597.101
15. Cre(litors: amounts falling due wlthln ong year
Other taxation and social security
Other creditors
Trade creditors and S￿ru81$
2,108
418
25,535
28.061
2,108
418
25,535
1,845
902
5.604
8,351
22

ARARAT BAPTIST CHURCH
NOTES TO THE FINANCIAL STATEMENTS
CONTINUED
YEAR ENDED 31st DECEMBER 2023
16. Rgstricted Funds
0110112023
Incom?
Expendlture 3111212023
Sycamore Fund
Renovation & Building
2,352
351,177
353,529
775
10,589
11.364
11,3411
21,038
22.379
1,786
340,728
342.514
Restricted Funds
Sycamore:
This is a Restricted fund bequeathed by Doris and Burt Brewer lo the Church
for use in supporting members of the Church in need, and which is regularly
replenished by donations al Communion Services.
This is the nel value of Church propety financed by funds provided for that
specific purpose only. Such Reslricled funds in previous years have been
legacies, donations and gifts, grants, loans received (plus contributions
towards their repaymenll. In 2023, Reslricled funds comprised the 2021 legacy
which £300,593 was remaining al 31st December (2022 £331.853),
together with offerings for ongoing maintenance (Maintenance Fund).
Renovation and
Building..
Previous Year (Restatgd)
0110112022
Income
Expendlture 3111¥2022
Sycamore Fund
Renovation & Building
1,969
359,386
361,355
441
6,558
6,999
{581
14,767
14,825
2,352
351,177
353,529
17. Unrestrirted Funds
0110112023
Income
Exp•nditur•
Transfer
3111212023
General Fund
Designated Funds
3.036,076
229,540
3.265,616
201,509
70,997
272,506
{251.3241
100,999
352,323
19,151 3.005.412
19,151
180,387
3.185,799
Descrlptlon of funds
Unreslricled Fund
General..
These are funds available lo the Church for unrestricted use in the furtheran￿ of ils charitable aims
and objectives. These funds may be revenue (income & expenditure) items or lied up in assets. e.g. the
Church buildings. extension5 and renovations, fixture and fittings, plant and compulerlaudio visual
equipment.
Desi
nated Funds
see Note 18.
These funds outlined below have been designated by the Trustees for the purpose5 shown whereas,
legally, they are unreslricled. For reportin9 purposes throughout these Financial Statements they are
therefore combined together as "Unreslricled"
Prevlous Year (Restated)
0110112022
Incom?
Expendlture 3111212022
General Fund
Designated Funds
3.001,742
247,135
3.248.877
175,984
54,722
230.706
1141,650} 3,036,076
72,317
229,540
213,967
3,265,616
23

ARARAT BAPTIST CHURCH
NOTES TO THE FINANCIAL STATEMENTS
CONTINUED
YEAR ENDED 31st DECEMBER 2023
18. Deslgnated Funds
0110112023
Incoming
Resources
Transf•r
3111212023
Group Activities
Legacy (incl Kingdom Bank}
Donation for Youth Worker
The Ark (incl ASDA grant)
989
210,849
5,000
12,702
229.540
4,484
3,392
{4.3491
125.9611 {19.1571
1,124
169,123
5,000
5,134
180,381
63,121
70.997
70,689
100,999
19.157
Groups=
These Groups provide local outreach from the Church premises and have their
own bank accounts administered by their officers. The Trustees have overall
responsibility for the management of the Groups.
A substantial legacy Ilhe 'Williams' Legacl'l was received in 2019 and, with
approval of Church members, the Trustees decided lo set aside a signrficanl
portion of it lo be available for future projects. £83,229 remained unspent at
3151 December 2023 (2022 £123,535), excluding the Kingdom Bank reserve
Ibelowl.
£85,000 from the "Williams, Legacy" has been transferred as a long term
reserve. The balance at 31 st December 2023 was £87,788 (2022 £85, 720)
Legacy..
Kingdom Bank
Youth Worker..
A donation was received during 2021 to assist with the costs of employing a
Youth Worker.
The café. open six days a week, which welcomes the general public and is
used for community activities and is an integral part of the ministry and
outreach activities of the Church.
The Ark
Previous Year (Restated)
Group Activities
Legacy {incl Kingdom Bank)
Donation for Youth Worker
The Ark
0110112022
1.080
236,934
5,000
4,121
247,135
Income
Exp•nditur• 3111212022
2,729
894
12,8201
126,9791
989
210,849
5,000
12,702
229.$40
51,099
54,722
42,518
72.317
19. Analysis of Balance Sheet
Unrestri¢tgd Rostriet•d
TOTAL
Tangible Nel Assets
Investments
Bank
Other net current assets
2.682,558
315,000
207,829
19,588
3.185,799
33,807 2,716,365
315,000
516.536
19,588
342.514 3.528,313
308,707
Prevlous Year (Restated)
UnrO$trfct￿ Restrict
TOTAL
Tangible Net Assets
Investments
Bank
Other nel current assets
2,717,085
300,000
252,904
4,373
3,265,616
9,360 2,726.445
300,000
344,197
597,101
28
4,401
353,529 3,619.145
24

ARARAT BAPTIST CHURCH
NOTES TO THE FINANCIAL STATEMENTS
CONTINUED
YEAR ENDED 31st DECEMBER 2023
20. Retlrement Pension Schemes
The Church is a participating employer in a Defined Contribution pension scheme known as the Baptist
Pension Scheme I'the Scheme"I, which is a separate legal entity administered by the Pension Tr¢Jstee
(Baptist Pension Trust Limited}. The assets of the Scheme are held separately from those of the Employer
and the other participating employers.
In general. members pay 80/0 of their Pensionable Income and employers pay 6¥0 of members,
Pensionable Income into individual pension accounts, which are operated and managed on behalf of the
Pension Trustee by Broadslone Corporate Benefits Ltd. In addition, the employer pays a further 40/0 of
Pensionable Income lo cover Death in Service Benefits, administration costs, and an associated insurance
policy which provides income protection for Scheme members if they are unable to work due to long-lerm
incapacity. This income protection policy has been insured by the Baptist Union of GTeal Britsin wlh Aviva
Limited.
Al the year end there was one member of staff in the Scheme.
Private Pension Schemgs
The Minister has his own Defined Contribution private pension schemes into which he and the Church
make monthly conlribulions.
21. Related Partles
111 The Custodian Trustee of the Church is the Baptist Union Corporation Limited, a charty {number
2496351 controlled by the Baptist Union co￿nCIl. The Church is also a member of the Baptist Union of
Great Britain, and the South Wales Baptist Association {charity number 1102735}.
{21 The Church made a donation of £9,499 (2022 £9,500) lo Baptist Union Home Mission (Note 8.1 and
paid £1,080 in annual subscriptions lo the Baptist Union (2022 £838).
131 The Church paid £700 in annual subscriptions to the South Wales Baptist Association
(2022 £513J.
141 The Church made donations lo the following affiliated Baptist organisalions.. (Note 8.)
Baptist Missionary Sociely World Mission £10,500 (2022 £10,500)
Baptist Missionary Society Vvorld Mission £815 {2022 £550) from the Church Harvest
Collection
Cardiff Baptist College £2,499 (2022 £2,590)
151 Rev G Russell-Jones (Minister} is a Trustee. Details of remuneration elc are in Note 9.
161 Mrs Alyson Burnell, Ark Manager until January 2023, is the wrfe of Mr Paul Burnell, who was a Trustee
al that time. During January she received 8 total salary of £1,416 (2022 £11,632)
171 In the year, no Trustees and related parties {2022 - 6) received any payment (2022 - £770) for
seNi¢es al weddings and f(Jnerals.
No amounts were outstanding during the current or prior year regarding the transactions above.
22. Post Balance Sheet Evgnts
111 The major structural survey in July 2023 reported that although the original 1915 building was largely
in good structural order, a programme of repairs was recommended. The main works are lo replace
part of the sanctuary roof natural slates and all lead sheeting, remedial work lo the other 5 roof areas,
gable and parapet walls, and replacement of all rainwater gullers and downpipes. In March 2024,
members accepted a tender of £192,000 +VAT for the work, which is expected to start in July 2024,
with a time frame of 3-4 months. Total costs of the project. likely lo be approximately £250,000, will be
met from the Restricted legacy.
{2) In April 2024, Hannah Buckley. Trainee Minister. resigned her post lo continue studies al Cardiff
Baptist College.
25

ARARAT BAPTIST CHURCH
NOTES TO THE FINANCIAL STATEMENTS
CONTINUED
YEAR ENDED 31st DECEMBER 2023
23. Custodian Asset
A leasehold property at Blandon Way, Whilchurch was bequeathed in Trust to the Church in June 1999, on
condition that the property would pass lo the Church only when il became vacant following the named
current tenant. who is still in residence. The lease of Ihe property expires in 2078.
24. Reconclllation of Net Incorng1{Expenditurg) to Net Cash Flow from Opgratlng Activities
2023
2022
R¥$tat•d
Note
Net Incomg1(expenditurg} for the
rgporting period {as In the Statement of
Financlal Activities)
Adjuslmenls for..
Depreciation
Ilncrease} I decrease in debtors
Ilncrease} I decrease in stock
(Decrease) l increase in creditors
Net cash provided by Ilused in) operating activitiOS
190.8321
8,913
11.,12.
13.
46,896
14,933}
410
19,710
28,749
42,294
269,466
(668}
12,357
307,648
Analysis of Cash and Cash Equivalents
Cash in hand and in Bank
14.
516,536
516,536
597,101
597,101
25. Operatlng Lèases
Unrestricted
Restrlcted
Total
2022
Restated
The following operational leases were in existence al 31 sl December 2023
Due in less than 1 year
4,509
Due in 2-5 years
4,509
4,260
6,592
6,592
11,101
26

ARARAT BAPTIST CHURCH
NOTES TO THE FINANCIAL STATEMENTS
CONTINUED
YEAR ENDED 31st DECEMBER 2023
26. Prior Year Adjustments
The published Financial Slalemenls for 2022 have been restated for a number of reasons. the nel effect
being a decrease in Net Movement of Funds and Reserves of £720,755
The reasons for this decrease are sel out below.
Reduction in revaluation gains on tangible fixed assets
(as a result of fhe change in Ihe basis of valuing these assets - see Note1. 11))
Increase in revaluation gains on investment assets
(as a resutt of the change in thg basis of vgluing these assets- see Note1. 13))
Increase in depreciation charge
(as a result of the Ghange in the basis of valuing tangible fixed assets - see Nolel.I t))
Grft Aid claim made in December 2022 not treated as accrued income for 2022
Various insurance policies for 2023 not treated 2$ a prepayment in 2022
Minor corrections
Decrease In Nèt Movement of Funds and Reserves
1700,5261
14,831
135,7071
(3.9181
4,465
100
720,755
Original Nel Movement of Funds
Restated Nel Movement of Funds and Reserves
Decrease in Nel Movement of Funds
729,668
8,913
720,755
27

ARARAT BAPTIST CHURCH
NOTES TO THE FINANCIAL STATEMENTS
CONTINUED
YEAR ENDED 31st DECEMBER 2023
27.
COMPARATIVE STATEMENT OF FINANCIAL ACTIVITIES
YEAR ENDED 31st DECEMBER 2022
Restated
Unr•striettd Restrlcted
TOTAL
Income
Donations & Legacies
Charitable Activities
Investment Income
Other Income
Total Incomtr
120,681
94,082
14.178
1,765
230,706
6,543
127,224
94,082
14,634
1,765
237.705
456
6,999
Expendlture
Charitable Activities
Total Expenditure
274,959
274,959
14,825
14.825
289,784
289 784
Net income Ilexpenditure) for the year
144.253)
7,8261 152,079)
Other recognised gains l (losses)
Revaluation gainslllossesl on fixed assets
Revaluation gains on investment asse15
Net Movement in Funds
60,992
16,739
60,992
8,913
7.826
Reconcillatlon of Funds
Total Funds brought forward restated
3,248,877
361,355 3,610.232
Total Funds carrled forward
3.265,616
353,529 3,619,145
28