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← Ararat Baptist Church

2024-12-31-accounts

ARARAT BAPTIST CHURCH FINANCIAL STATEMENTS YEAR ENDED 31st DECEMBER 2024

Charity Number: 1132808

ARARAT BAPTIST CHURCH

FINANCIAL STATEMENTS

YEAR ENDED 31st DECEMBER 2024

CONTENTS

Report of the Trustees
Independent Auditor's Report
Statement of Financial Activities
Balance Sheet
Statement of Cash Flows
Notes to the Financial Statements		 Page
1 - 8
9 - 12
13
14
15
16-27

ARARAT BAPTIST CHURCH

REPORT OF THE TRUSTEES

FOR THE YEAR ENDING DECEMBER 31st 2024

Ararat Baptist Church is an unincorporated charity, registered with the Charity Commission since November 19[th ] 2009. The Church’s Constitution was adopted 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 Britain (BUGB).

Organisational Structure and Decision Making

The Church is governed 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 before further re-election may be sought. The Constitution does not stipulate a maximum number of Trustees. A process of Trustee elections takes place most years in order to maintain an adequate number of Trustees and to allow for the replacement of those who have completed their term of service.

A Chairperson for the Trustees is appointed annually by the Trustees. Trustees are responsible for the strategic direction and operational management of the Church, and authority is delegated to the Church’s Minister(s) and Secretaries 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 relation to matters of finance, safeguarding and Church fabric issues.

Persons nominated to become Trustees of the Church must have been Church members for 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 nominated will meet with the Church’s Minister(s) prior to the election in order to discuss the work and responsibilities of being a Trustee. All elected Trustees will have access to relevant documentation from the Charity Commission pertaining to their responsibilities as a charity Trustee, the Church’s policies and appropriate guidance materials and leaflets produced by BUGB.

Nominations must be submitted in writing with the supporting signature of two other Church Members and the consent of the candidate.

The Church comprises both members and friends. Baptism by immersion upon personal profession of faith in Jesus Christ is the 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 not requested membership of the Church, but they may attend services and other Church activities regularly or infrequently and are valued members of the Church community. They may attend meetings of the Church members, but do not have any voting rights. There were three baptisms by immersion during 2024, each of which became Church members. Currently Ararat has 189 members.

The Church Constitution requires that a 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

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communicate with the membership about their duties and seek the approval of the Church membership in relation to matters of importance. Agreement by way of consensus is the preferred manner of decision-making, but 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 the furtherance of the Charity’s aims and objectives, and a team of recognised volunteers supports the day-to-day work of the Church. During 2024 a Secretaries’ Report was prepared for each of the Church members’ meetings as a means of improving communication. It was also agreed to hold Church members’ meetings immediately after the Sunday morning service, thereby increasing its attendance.

There is a Financial Management Team comprising both a paid employee and volunteers who are responsible to both the Trustees and the Church for keeping proper accounting records and ensuring compliance with the Charities Act 2011. During the year the employed member of the Team relinquished the post, continuing for some while as a volunteer. The Church considered options for managing its finances and employed an external organisation to provide bookkeeping services. This arrangement has not proved to be overly successful, and we are now seeking to employ a Financial Administrator on a part-time basis. External auditing arrangements are in place, and the Church is mindful of its responsibilities in relation to registration for VAT and has processes in place to implement this should the Church reach the VAT threshold. The Financial Management Team ensure that Annual Financial Statements are prepared in accordance with the requirements for Charities. These Annual Financial Statements are approved initially 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. A 4% uplift was agreed during 2024

The Church’s Aims and Objectives

The Church’s principal purpose is the advancement of the Christian faith according to the principles of the Baptist denomination. The Church may also advance education and carry out other charitable purposes in the United Kingdom – so called ‘Home Mission’ and/or in other parts of the world through financial support, or other means. The Church’s premises are held by the Baptist Union Corporation Ltd through a Trust which is entirely compatible with the Charity’s objectives.

The Church is committed to enabling as many people as possible to worship at the Church and to become part of the Church’s community. It accepts the Inclusive Church Statement:

“ We believe in inclusive Church – a Church which celebrates and affirms 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, neurodiversity, or sexuality.

We believe in a Church which welcomes and serves all people in the name of Jesus Christ; which is scripturally faithful; which seeks to proclaim 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 services and worship put faith into practice through prayer, scripture reading, teaching, music and participating in Holy Communion. This is freely available to all who love Jesus Christ, regardless of whether they are, or are not, Church members

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Our facilities are open seven days a week to provide a welcoming community hub for those with a Christian faith, other faiths and of no faith at all, where they may be accepted, supported, encouraged and learn more about the Christian faith, whether they live locally or travel from further afield.

Public Benefit

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 guidance 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 Service, support groups, fitness and exercise classes etc. take place daily. Rooms are available freely for Church activities or can be hired at a competitive rate. A luncheon club is available each week for those over the age of 60: many of those attending live in the locality 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 after a dip during the Covid pandemic. The general public use the facilities to meet up with friends in a comfortable, contemporary and stylish environment where they all receive a warm welcome. There are no restrictions on anyone attending our Church or community facilities which are accessible to all and inclusive of everyone. The homeless are encouraged to use the Centre, where they may use our shower facilities, (toiletries and towels are provided) and are directed to other local charities who can assist them with specific needs. As a charity we provide various events which are of benefit to both the Church and to the community. During 2024, we put on a pantomime, various concerts, some of which included our Community Choir and a Beatles’ night spectacular,

Activities and Achievements

The Church is led by our Minister, Rev Gethin Russell-Jones who works 4 days a week, supported by our Children and Families’ Worker, Mrs Rachel Powell. Having considered the needs of the youth in our community, it was agreed during the year to expand the job description of Mrs Powell to include the needs of the youth. This enhanced job description will commence in January 2025. 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.

In January 2024, three Trustees returned to service following their year off and having been re-elected by the Church. They were joined by one new Trustee. During the year, however, one Trustee resigned owing to family commitments and two others tendered their resignation for other reasons. At the close of 2024 there were eight Trustees including the Minister. It was decided to defer elections in the autumn of 2024 in order to review the appointment process with the intention to hold further elections early in 2025.

Prayer has had an increased importance during 2024 with the commencement of a new Church prayer meeting on Wednesday evenings and a greater amount of time spent in prayer and worship by the Trustees

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, one via Zoom, and another 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.

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We continue to hold two services a month in local residential/nursing homes. This is welcomed by those who are unable to attend Church due to illness and frailty. Other older members, or those who for various reasons are no longer able to come to Church, are regularly visited by a team of trained pastoral workers. These volunteers work closely with the Minister to 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. The Church has a policy in place to protect lone-workers and all involved in pastoral care are DBS checked.

Ararat has a very active work amongst 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 services. The Ararat Girls’ Brigade is now the only remaining group in Wales and continues to thrive.

Ararat has a Safeguarding Policy in place, following the resignation of the existing designated person we have during 2024 appointed two Designated Persons There is a system in place for DBS checks for all those working with minors and vulnerable adults. One Trustee takes a special interest in safeguarding and is part of the Safeguarding Team.

The Church’s community arm is known as ‘The Church Centre’’. Attached to the Church sanctuary are several buildings which provide a home for many of our community groups and activities including our bright, modern and stylish community café, known as the Ark Café. During 2024 our Café Manager resigned her position and her role has been replaced by the appointment of additional barista/kitchen support workers who have been overseen by one of the Trustees. Our catered events have been extremely well received by those who attended. Events were held to celebrate St David’s Day, Easter and Christmas. The Ark Café continues to hold a five-star hygiene rating.

The Church’s missional activities 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 Baptist World Mission and Christian Aid. We have also donated during the year to Christians Against Poverty, Operation Agri and a local charity, Cwtch.

As a Church we are concerned about 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 and our carbon footprint. We have moved to providing fairly traded refreshments after Sunday services. In a bid to reduce waste, all our waste is sorted and appropriately recycled. In order to encourage wild life, we have purchased six swift nesting boxes which have been affixed high up under the eaves. We continue to work towards an Eco-Church Bronze award As a growing Church, issues of responsible management and good governance are paramount and during 2023, we employed an Operations Manager to assist the Minister and Trustees with its organisation, governance and administration. The postholder left during 2024 and the role was picked up on an interim basis by the Trustees. This proved to be a useful exercise, and it is now planned to appoint a Church Administrator in early 2025 who will be responsible and accountable to the Trustees

2024 has been Ararat’s bicentenary year, and there have been a series of events both spiritual and otherwise in order to celebrate this milestone. The year started with a pantomime in January, ‘The Glass Slipper’ which received excellent reviews. Our main celebrations took place over a week in May, when we held an exhibition of ephemera and other memorabilia from the past two hundred years. This was open to the community who enjoyed it greatly. Our Minister co-wrote a play for voices which highlighted the most significant events of the past two-hundred years and on Pentecost Sunday we were delighted to welcome the very

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Reverend Rowan Williams to speak to us. This was followed by a celebratory three course meal for all. A ‘Songs of Praise’ was also held where 200 songs were sung enthusiastically over the course of a day, selected from ancient hymns to contemporary worship songs.

An area of garden was refreshed to show the years 1824 – 2024 surrounded by lavender bushes and banners placed on the front and rear of the Church highlighting the bicentenary.

A new iron arch was also commissioned, at the entrance to our garden with the words “Croeso, Ararat, Welcome”. A service of blessing for all those who will pass through the arch was held shortly before Christmas.

Much building work has taken place during 2024. We have spent the bulk of a significant legacy on replacing the roof of the Sanctuary, and making repairs to all the other roofs on site. Rainwater goods have been replaced and other adjustments made. The roof has been in place since the current Church building was built and hopefully, will now remain sound for another hundred years.

Financial Review

The Financial Statements have been prepared in accordance with the accounting policies set out in Note 1. to the Financial Statements and comply with the Charity’s governing document, the Charities Act 2011 and “Accounting and Reporting by Charities: Statement 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[st] January 2019).

The results for the year 2024 as reported in the Financial Statements show an overall deficit in movement of funds of £258,117 (2023 deficit £90,832). However, for the actual running of the Church itself, (including The Ark) the deficit was £13,215 (2023 deficit – £47,812) . Total reserves at 31[st] December 2024 were £3,270,196 (2023 £3,528,313).

2019 Legacy

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 and replacement barista, and for professional and audit services. The balance unspent at 31[st] December 2024 was approximately £148,000 (2023 £171,000).

2021 Legacy

As referred to previously, a legacy of £350,000 was bequeathed to the Church in 2021, the terms of the Will expressing the donor’s wish that it be used for maintenance and building works. During the year, it was used to fund essential electrical and lift repairs, various other maintenance costs, but primarily the replacement of the Sanctuary roof and repair of all others (also as referred to previously). The balance unspent at 31[st] December 2024 was approximately £94,000 (2023 £301,000). It is expected that the remaining balance of the legacy will be utilised during 2025 for other essential repair works.

Financial Reserves Policy

During 2025, the Trustees have reviewed and updated the Financial Reserves policy to state that they considered it prudent to hold a reserve of at least £50,000 which would cover three months of essential expenditure. The Trustees regard the position to be satisfactory at the year-end, as the bank balance in the various Current Accounts was £45,000 and there was a further £90,000 held at the Kingdom Bank and £167,000 on deposit – a total of £302,000.

Risk 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

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implementation of procedures for all transactions and projects. Procedures are also in place to ensure compliance with the health and safety of staff, volunteers and visitors to the Church, Community Centre and the Church Café.

Going Forward

We hope that during 2025 we will be able to appoint a further Barista/Kitchen Assistant to support our very popular Ark café. In addition, we plan to appoint both a part time Financial Administrator and a Church Administrator. Our existing Children and Families’ Worker has commenced her enhanced role with a new title as of January 2025 – our ‘Children Youth and Families’ Ministry Lead’.

It was our intention during 2024 to progress our transition from an unincorporated Charity to a Charitable Incorporated Organisation (CIO) but however this was postponed owing to financial concerns. Once we have a new Church Administrator in post, we plan to take this matter forward.

Ararat owns a semi-detached property which was once its manse. The property was converted into two self-contained flats in the 1970s. An Options Appraisal paper has been prepared to consider whether we should retain the property or to sell, and this matter will be considered by the Church during the year ahead

We are also aiming to prepare a 5-year vision paper, a matter for consideration not only by the Church membership and the Trustees, but also for those who regularly attend our Centre, our children and young people and the local community. We hope to be able to finalise this by the end of 2025

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ARARAT BAPTIST CHURCH

REPORT OF THE TRUSTEES FOR THE YEAR ENDING DECEMBER 31st 2024

Reference and Administrative Details

Registered Charity Number: 1132808

Principal Office: Ararat Baptist Church, Plas Treoda, Whitchurch, Cardiff CF14 1PT

Trustees as at December 31[st] 2024

Rev. Gethin Russell-Jones – Minister

Mrs Carolyn Higgins – Deacon (Term of office ended December 31[st] 2024)*

Dr Vaughan Williams – Chair of the Trustees, Deacon and co-Secretary

Mrs Jayne Porter – Deacon and co-Secretary

Mrs Jennifer Lewis – Deacon – commenced January 1[st] 2024

Mrs Sylthia Hilary Evans – Deacon – commenced January 1[st] 2024

Mrs Sally Rees – Deacon – commenced January 1[st] 2024

Mrs Karen Kaneen – Deacon – commenced January 1[st] 2024

Mrs Rachel Powell – Deacon – commenced July 1[st] 2025

Mrs Sonia Conway – Deacon and Secretary – retired January 31[st] 2024

Mrs Julie Gibbs – Deacon – resigned April 16[th] 2024

Mrs Rhiannon Scott – Deacon – resigned July 2[nd] 2024

Mr Gareth Witts – Deacon – resigned October 11[th] 2024

Property Trustees

The Baptist Union Corporation Ltd, Baptist House, 129 Broadway, Didcot, Oxon OX11 8RT

Bankers

The Cooperative Bank plc, PO Box 101, Balloon Street, Manchester, M4 4BE

Auditors

Bevan Buckland LLP, Ground Floor, Cardigan House, Castle Court, Swansea Enterprise Park, Swansea SA7 9LA

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ARARAT BAPTIST C HURCH REPORT OF THE TRUSTEES

FOR THE YEAR ENDING DECEMBER 31st 2024

Trustees' Responsibilities in Relation to the Financial Statements

The Trustees are responsible for preparing the Trustees' Report and the Financial Statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England and 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 the incoming resources and application of resources of the charity for that year.

In preparing these Financial Statements, the Trustees are required to:

The Trustees are responsible for keeping sufficient accounting records that 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 charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The Trustees are responsible for the maintenance and integrity of the charity and financial information included on the charity's website. Legislation in the United Kingdom governing the preparation and dissemination of Financial Statements may differ from legislation in other jurisdictions.

Approved by order of the Board of Trustees on 25[th] September 2025 and h signed on their behalf by:

___ __ _______ Rev T G Russell-Jones Dr V Williams Mrs J Porter Minister co-Secretary co-Secretary

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INDEPENDENT AUDITOR’S REPORT

TO THE TRUSTEES OF ARARAT BAPTIST CHURCH

Opinion

We have audited the financial statements of Ararat Baptist Church (‘the charity’) for the year ended 31 December 2024 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow and notes to 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 Generally Accepted Accounting Practice).

In our opinion, the financial statements:

• give a true and fair view of the state of the charity’s affairs as at 31 December 2024 and of its incoming resources and application of resources for the year then ended;

• have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

• have been prepared in accordance with the requirements of the Charities Act 2011.

Basis for opinion

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

Conclusions relating to going concern

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

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity’s ability to continue as a going concern for a period of at least 12 months from when the financial statements are authorised for issue.

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

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Other information

The other information comprises the information included 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 the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements, or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements 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 regard.

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 misstatements in the trustees’ report.

We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 require us to report to you if, in our opinion:

• the information given in the trustees’ report is inconsistent in any material 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 received all the information and explanations we require for our audit.

Responsibilities of trustees

As explained more fully in the trustees’ responsibilities statement, the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

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

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Auditor’s responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists.

Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

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

We identify and assess the risks of material misstatement of the Financial Statements, whether due to fraud or error, and then, design and perform audit procedures responsive to those risks, including obtaining audit evidence that is sufficient and appropriate to 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 monitored our independence throughout the process.

Identifying and assessing potential risks related to irregularities

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, our procedures included the following:

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Audit response to risks identified

In addition to the above, our procedures to respond to risks identified included the following:

We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit.

Use of our report

This report is made solely to the charity’s trustees, as a body, in accordance with The Charities Act 2011. Our audit work has been undertaken so that we might state to the trustees those 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 responsibility to anyone other than the charity’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.

Eligibility

Bevan Buckland LLP is eligible for appointment as auditor of the charity by virtue of its eligibility for appointment as auditor of a company under section 1212 of the Companies Act 2006.

Bevan Buckland LLP Chartered Accountants And Statutory Auditors Ground Floor, Cardigan House Castle Court Swansea Enterprise Park Swansea SA7 9LA

25[th] September 2025

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ARARAT BAPTIST CHURCH

STATEMENT OF FINANCIAL ACTIVITIES

YEAR ENDED 31st DECEMBER 2024

Note
Income
Donations and Legacies
2.
Charitable Activities
3.
Investment Income
4.
Other Income
5.
Total Income
Expenditure
Fundraising Costs
6.
Charitable Activities
7.
Total Expenditure
Income / (expenditure) for the year
Other recognised gains / (losses)
Revaluation gains / (losses) on fixed assets
12.
Revaluation gains on investment assets
13.
Net Movement in Funds
Reconciliation of Funds
Total Funds brought forward
Total Charity Funds carried forward
Comparative figures for 2023 are in Note 27.		 Unrestricted
Restricted
TOTAL
£
£
£
162,836
8,415
171,251
132,787
-
132,787
17,649
4,416
22,065
456
-
456
313,728
12,831
326,559
2,005
-
2,005
349,738
232,933
582,671
351,743
232,933
584,676
(38,015)
(220,102)
(258,117)
-
-
-
-
-
-
(38,015)
(220,102)
(258,117)
3,185,799
342,514
3,528,313
3,147,784
122,412
3,270,196		 2023
£
137,420
110,183
20,479
553
268,635
-
374,702
374,702
(106,067)
-
15,235
(90,832)
3,619,145
3,528,313

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 16-27 form part of the Financial Statements

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ARARAT BAPTIST CHURCH

BALANCE SHEET

YEAR ENDED 31st DECEMBER 2024

Note
Fixed Assets
Tangible Fixed Assets
12.
Investments
13.
Current Assets
Stocks
Debtors & Prepayments
14.
Bank
15.
Current Asset Investment
16.
Current Liabilities due within one year
Creditors
17.
Net Current Assets
Total Net Assets
Charity Funds
Restricted funds
18.
Unrestricted funds:
19.
Designated funds
20.
Total Charity Funds carried forward		 £
£
2,680,087
315,000
2,995,087
1,620
12,846
215,588
86,463
316,517
(41,408)
(41,408)
275,109
3,270,196
122,412
3,004,579
143,205
3,147,784
3,270,196
2024		 £
£
2,680,087
315,000
2,995,087
1,620
12,846
215,588
86,463
316,517
(41,408)
(41,408)
275,109
3,270,196
122,412
3,004,579
143,205
3,147,784
3,270,196
2024		 £
£
2,716,365
315,000
3,031,365
669
7,804
516,536
-
525,009
(28,061)
(28,061)
496,948
3,528,313
342,514
3,005,412
180,387
3,185,799
3,528,313
2023		 £
£
2,716,365
315,000
3,031,365
669
7,804
516,536
-
525,009
(28,061)
(28,061)
496,948
3,528,313
342,514
3,005,412
180,387
3,185,799
3,528,313
2023
3,270,196 3,528,313
122,412
3,147,784		 342,514
3,185,799
3,270,196 3,528,313

The Financial Statements were approved by the Trustees on 25[th ] September 2025

____ ___ ___ Rev G Russell-Jones Dr V Williams Mrs J Porter Minister co-Secretary co-Secretary

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ARARAT BAPTIST CHURCH

STATEMENT OF CASH FLOWS

YEAR ENDED 31st DECEMBER 2024

Note
Net cash provided by / (used in) operating activities
25.
Cash flows from investing activities:
Purchase and revaluation of fixed and investment assets
12.,13.
Reclassification of current asset investment
16.
Net cash provided by / (used in) investing activities
Change in cash and cash equivalents during the year
Cash and cash equivalents at beginning of year
15.
Cash and cash equivalents at end of year
15.		 2024
£
(203,512)
(10,973)
(86,463)
(97,436)
(300,948)
516,536
215,588		 2023
£
(28,749)
(51,816)
-
(51,816)
(80,565)
597,101
516,536

Cash and cash equivalents comprise cash at bank and in hand, and short-term, highly liquid investments with a maturity of three months or less from the date of acquisition.

During the year, the Church held an investment with Kingdom Bank which had a maturity period exceeding three months. In accordance with FRS 102 Section 7 and Charities SORP Module 14, this investment does not meet the definition of a cash equivalent and has therefore been excluded from the Cash and Cash Equivalents balance in the Statement of Cash Flows above.

The investment has been reclassified as a Current Asset Investment and is presented separately on the Balance Sheet. This ensures that the Statement of Cash Flows reflects only those balances that are readily available for use in charitable activities.

15

ARARAT BAPTIST CHURCH

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31st DECEMBER 2024

1. Accounting Policies

1.1 Charity Information

1.2 Basis of Preparation

The Financial Statements have been prepared in accordance with the Charity's governing document, the Charities Act 2011 and "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) (effective 1 January 2019)".

The Financial Statements have been prepared under the historical cost convention apart from values associated with Church buildings and related fixtures and fittings.

The Church constitutes a Public Benefit Entity as defined by FRS 102.

1.3 Going Concern

1.4 Critical Accounting Estimates and Judgements

The preparation of the Financial Statements requires the Trustees to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the Balance Sheet date and the amounts reported for revenues and expenses during the year. The estimates and associated assumptions are based on historical experience and other relevant factors. However, the nature of estimation means that actual outcomes could be different.

1.5 Income Recognition

Income is recognised in the Statement of Financial Activities on the following basis:

16

ARARAT BAPTIST CHURCH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

YEAR ENDED 31st DECEMBER 2024

1. Accounting Policies (continued)

1.6 Expenditure Recognition (continued)

Provisions for grants are made when the intention to make a grant has been communicated to the recipient but there is uncertainty as to the timing or amount of the grant.

1.7 Raising funds

Raising funds includes all expenditure incurred by the Church to raise funds for its charitable purposes and includes costs of all fundraising activities, events and non-charitable trading, and an apportionment of support and governance costs.

1.8 Charitable activities

1.9 Support and Governance costs

Support costs are those that assist the work of the Church but do not directly represent charitable activities and include office and associated costs.

Governance costs comprise all costs involving the public accountability of the Church and its compliance with regulation and good practice, including audit and legal fees.

Most of the management of the Church is carried out without charge by volunteers. This intangible cost is not included in the Statement of Financial Activities since there is no measurable cost to the volunteers for their service.

1.10 Apportionment of Support and Governance costs

Support and governance costs have been apportioned to the cost of raising funds and expenditure on charitable activities on a basis consistent with the use of resources.

1.11 Cash and Cash Equivalents

Cash and cash equivalents comprise cash at bank and in hand and short-term highly liquid investments that are readily convertible to known amounts of cash and are subject to an insignificant risk of changes in value.These investments have a maturity of three months or less from the date of acquisition.

Cash and cash equivalents are held to meet short-term cash commitments rather than for investment or other purposes.

1.12 Current Asset Investments

Current asset investments include deposits and other investments held with financial institutions that do not meet the definition of cash equivalents (see Note 11.), becuase they have a maturity of more than three months from the date of acquisition. These are held for the purpose of generating a return and are classified separately from cash and cash equivalents on the Balance Sheet. Income from these investments is recognised on an accruals basis.

1.13 Tangible Fixed Assets

All assets costing more than £1,000 are capitalised. Value of Church Buildings

The Church buildings had historically been accounted for at insurance value, because there was no reliable cost information available. As a result of the transition to FRS 102 the Trustees took the insurance cost for Church buildings and related Fixtures and Fittings (but excluding the Investment Property) of £2,668,585 as at transition date (1st April 2014) and used this as "deemed cost" going forward from 1st January 2016.This cost is adjusted by the additions and disposals in each subsequent year. The revised policy has been adopted from 2022 onwards. Depreciation has also been charged in each year on the bases outlined below.

17

ARARAT BAPTIST CHURCH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

YEAR ENDED 31st DECEMBER 2024

1. Accounting Policies (continued) 1.13 Tangible Fixed Assets (continued)

Impairment of assets

At each reporting end date, the Church reviews the carrying amounts of its tangible 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 estimated in order to determine the extent of the impairment loss (if any).

Depreciation

Depreciation is provided on freehold land and buildings over 100 years. Furniture, Fixtures, Fittings & Equipment are depreciated over 6 years. Plant is depreciated over 10 years.

1.14 Stocks

Stocks of unsold catering supplies in The Ark are valued at the lower of cost or net realisable value, cost being determined on FIFO basis method.

1.15 Investment 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 is market value as determined professionally at 31st December annually. Material differences from year to year are accounted for in the Financial Statements.

1.16 Taxation

The Church is exempt from tax on its charitable activities.

1.17 Fund accounting

Unrestricted "General" funds can be used in accordance with the charitable objectives of the Church at the discretion of the Trustees.

Designated funds are unrestricted funds put aside for a specific project or aim: they can be returned to the General Unrestricted funds at any time provided the decision is taken by a quorum of members at the Church meeting. For reporting purposes they are combined with Unrestricted funds and termed "Unrestricted".

Restricted funds can only be used for particular restricted purposes within the objects of the Church. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the Notes to the Financial Statements.

1.18 Pension 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 at the year end are shown in creditors in the Balance Sheet.

1.19 Groups

There have been a number of organisations (“Groups”) 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 2024

2. Donations and Legacies
Offerings / Donations
Tax refunds
Legacies
Total
3. Charitable Activities
Children, Families' & Youth Ministry
Income from The Ark
Hire Income
Ministry Income (incl Groups - Note 20.)
Fundraising Income
Total
4. Investment Income
Rent received
Bank interest
Total
5. Other Income
Grants
Other charitable income
Total
6. Fundraising Costs
Expenditure incurred
Support + Governance costs (Note 8.)
Total
7. Charitable Activities
Ministerial
Mission (incl Groups - Note 20.)
Ministry Donations / grants (Note 9.)
Premises
Maintaining investment
Miscellaneous
Support + Governance costs (Note 8.)
Total		 Unrestricted
Restricted
TOTAL
£
£
£
128,947
7,056
136,003
29,889
1,359
31,248
4,000
-
4,000
162,836
8,415
171,251
£
£
£
12,327
-
12,327
79,001
-
79,001
30,432
-
30,432
3,071
-
3,071
7,956
-
7,956
132,787
-
132,787
£
£
£
13,284
-
13,284
4,365
4,416
8,781
17,649
4,416
22,065
£
£
£
-
-
-
456
-
456
456
-
456
£
£
£
1,449
-
1,449
1,449
-
1,449
556
-
556
2,005
-
2,005
£
£
£
47,137
-
47,137
126,425
723
127,148
25,464
-
25,464
50,568
226,156
276,724
2,542
-
2,542
561
-
561
252,697
226,879
479,576
97,041
6,054
103,095
349,738
232,933
582,671		 2023
£
111,548
25,772
100
137,420
£
10,839
63,121
29,512
6,711
-
110,183
£
13,284
7,195
20,479
£
-
553
553
£
-
-
-
-
£
61,426
122,577
26,571
57,423
3,411
2,719
274,127
100,575
374,702

19

ARARAT BAPTIST CHURCH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

YEAR ENDED 31st DECEMBER 2024

8.
**9. **		 Support Costs
Staffing
Office Costs
Depreciation
Write-offs / loss on disposal of assets
Finance costs
Total
Governance Costs
Audit / Independent Examination
Other governance costs
Total
Total Support + Governance costs		 Unrestricted
Restricted
TOTAL
£
£
£
26,100
-
26,100
18,948
-
18,948
40,824
6,054
46,878
800
-
800
44
-
44
86,716
6,054
92,770
£
£
£
10,881
-
10,881
-
-
-
10,881
-
10,881
97,597
6,054
103,651		 2023
£
27,151
13,946
45,548
-
40
86,685
£
13,230
660
13,890
100,575
Apportioned pro rata (on cost) to:
Fundraising costs
Charitable Activities		 556
-
556
97,041
6,054
103,095		 -
100,575
Donations / Grants
BMS World Mission
Cardiff Baptist College
Baptist Union Home Mission		 Unrestricted
Restricted
TOTAL
£
£
£
10,500
-
10,500
2,500
-
2,500
9,500
-
9,500
22,500
-
22,500		 2023
£
10,500
2,499
9,499
22,498

10. Staff Remuneration and Benefits

taff Remuneration and Benefits
Wages and salaries
Social security
Other pension costs		 2024
2023
£
£
135,969
139,694
5,440
5,373
8,608
9,213
150,017
154,280

No employee received more than £60,000 during the year.

Rev Gethin Russell-Jones (Trustee) received remuneration (including gross salary, employer's national insurance and employer's pension contributions) totalling £39,540 (2023 £46,777) for his services as Minister during the year. In September 2023, he reduced his weekly hours by 20%.

Pension contributions are paid to Defined Contribution private pension schemes on behalf of the Minister. The total amount paid into these schemes by the Church was £3,416 (2023 £3,875).

One staff member is in the Baptist Pension Scheme which is a Defined Contribution scheme. The amount paid into this Scheme was £2,378 (2023 £2,300).

The key management personnel comprise the Trustees and the Minister.

During the year, no Trustees received expenses in connection with their roles as Trustees.

During the year, £26,819 was received in donations from 14 Trustees and related parties (2023 £12,045 from 7 Trustees and related parties) .

20

ARARAT BAPTIST CHURCH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

YEAR ENDED 31st DECEMBER 2024.

11. Staff Numbers

The average number of employees during the year was 8 (2023 8)

In April 2024, Hannah Buckley, Trainee Minister, resigned her post to continue studies at Cardiff Baptist College.

12. Tangible Fixed Assets

Tangible Fixed Assets
Cost or valuation
At 1st January 2024
Additions
Disposals
At 31st December 2024
Depreciation
At 1st January 2024
Charge
Eliminated on Disposal
At 31st December 2024
Net Book Value
At 31st December 2024
At 31st December 2023		 Church
Property
£
2,885,758
-
-		 Fixtures,
Fittings,
Equipment
& Plant
Total
Unrestricted
Church
Property
Fixtures,
Fittings,
Equipment
& Plant
£
£
£
£
87,926
2,973,684
4,740
35,401
-
-
-
11,773
(800)
(800)
-
-
Restricted
Unrestricted		 Total
Restricted
£
£
40,141
3,013,825
11,773
11,773
-
(800)
Total
Tangible
Fixed
Assets
Fixtures,
Fittings,
Equipment
& Plant
£
87,926
-
(800)
2,885,758 87,126 2,972,884
4,740
47,174		 51,914
3,024,798
226,315
28,860
-		 64,811
13,136
(800)		 291,126
94
6,240
41,996
48
6,007
(800)
-
-		 6,334
297,460
6,055
48,051
-
(800)
255,175 77,147 332,322
142
12,247		 12,389
344,711
2,630,583 9,979 2,640,562
4,598
34,927		 39,525
2,680,087
2,659,443 23,115 2,682,558
4,646
29,161		 33,807
2,716,365

Accounting Policy 1.13 explains that the basis of valuing property and related contents changed from 2022 onwards. The amounts shown above at 1st January 2024 reflect the new basis from 2016 to that date.

21

ARARAT BAPTIST CHURCH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

YEAR ENDED 31st DECEMBER 2024

13. Investments

Investments
Cost or valuation
At 1st January 2024
Additions
Revaluation
At 31st December 2024
Net Book Value
At 31st December 2024
At 31st December 2023		 Property:
23-24
Plas Treoda
£
315,000
-
315,000
-
315,000
315,000
315,000

The investment consists of a property, the former manse at Plas Treoda, let for rental as two flats. As stated in Accounting Policy 1.15, the basis for valuation is market value.

The investment properties were valued at 31 December 2023 and 31 December 2024 by external valuer Chris Clarke LLB FRICS Chartered Surveyor of Chris Clarke Surveyors Limited.

The valuation was prepared on the basis of market value as defined in the Royal Institution of Chartered Surveyors' Valuation Global Standards

14. Debtors & Prepayments: amounts falling due within one year:

Trade debtors
Accrued income
Prepayments
15. Bank Balances
Petty Cash
Current Accounts
Deposit Reserve Accounts
16. Current Asset Investment
Kingdom Bank 120-day Acount		 Unrestricted
Restricted
TOTAL
£
£
£
986
-
986
4,659
400
5,059
6,801
-
6,801
12,446
400
12,846
Unrestricted
Restricted
TOTAL
£
£
£
145
-
145
44,638
-
44,638
64,681
106,124
170,805
109,464
106,124
215,588
Unrestricted
Restricted
TOTAL
86,463
-
86,463
86,463
-
86,463		 2023
£
1,012
368
6,424
7,804
2023
£
187
31,625
484,724
516,536
2023
-
-

During the year, the Church held an investment with Kingdom Bank which had a maturity period exceeding three months from the date of acquisition. In accordance with FRS 102 Section 7 and Charities SORP Module 14, this investment does not meet the definition of a cash equivalent and has therefore been reclassified as a Current Asset Investment.

The investment has been excluded from the cash and cash equivalents balance in the Statement of Cash Flows and is presented separately within Current Assets on the Balance Sheet.

22

ARARAT BAPTIST CHURCH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

YEAR ENDED 31st DECEMBER 2024

17. Creditors: amounts falling due within one year

Other taxation and social security
Other creditors
Trade creditors and accruals		 Unrestricted
Restricted
TOTAL
2023
£
£
£
£
1,433
-
1,433
2,108
431
-
431
418
15,907
23,637
39,544
25,535
17,771
23,637
41,408
28,061

18. Restricted Funds

Restricted Funds
Sycamore Fund
Renovation & Building		 01/01/2024
Incoming
Resources
Resources
Expended
31/12/2024
£
£
£
£
1,786
2,092
(723)
3,155
340,728
10,739
(232,210)
119,257
342,514
12,831
(232,933)
122,412

Restricted Funds

Sycamore:

Renovation and Building:

A Restricted fund bequeathed by Doris and Burt Brewer to the Church for use in supporting members of the Church in need, and which is regularly replenished by donations at Communion Services.

The net value of Church property financed by funds provided for that specific purpose only. Restricted funds in previous years have been legacies, donations and gifts, grants, loans received (plus contributions towards their repayment). In 2024, Restricted funds comprised the 2021 legacy of which £93,774 remained unspent at 31st December 2024 (2023 £300,593), together with offerings for ongoing maintenance (Maintenance Fund).

Previous Year
Sycamore Fund
Renovation & Building
Unrestricted Funds
General Fund
Designated Funds		 01/01/2024
£
3,005,412
180,387		 01/01/2023
Incoming
Resources
Resources
Expended
31/12/2023
£
£
£
£
2,352
775
(1,341)
1,786
351,177
10,589
(21,038)
340,728
353,529
11,364
(22,379)
342,514
Incoming
Resources
Resources
Expended
Transfer
31/12/2024
£
£
£
£
304,317
(317,532)
12,382
3,004,579
9,411
(34,211)
(12,382)
143,205
3,185,799 313,728
(351,743)
-
3,147,784

19. Unrestricted Funds

Description of funds Unrestricted Funds

General:

These are funds available to the Church for unrestricted use in the furtherance of its charitable aims and objectives. These funds may be revenue (income & expenditure) items or tied up in assets, e.g. the Church buildings, extensions and renovations, fixture and fittings, plant and computer/audio visual equipment.

23

ARARAT BAPTIST CHURCH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

YEAR ENDED 31st DECEMBER 2024

19. Unrestricted Funds (continued)

The Ark:

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.

Prior to 2023 the Ark was classified as a Designated Fund but from 2023 onwards it is treated as part of general Unrestricted Church funds.

Designated Funds (see Note 20.)

These funds outlined below have been designated by the Trustees for the purposes shown whereas, legally, they are unrestricted. For reporting purposes throughout these Financial Statements they are therefore combined together as "Unrestricted".

Previous Year
General Fund
Designated Funds
Designated Funds
Group Activities
Legacy (incl Kingdom Bank)
Donation for Arch (Youth Worker)
The Ark
Minister's Saving		 01/01/2023
Incoming
Resources
Transfer
31/12/2023
£
£
£
£
£
3,036,076
201,509
(251,324)
19,151
3,005,412
229,540
70,997
(100,999)
(19,151)
180,387
3,265,616
272,506
(352,323)
-
3,185,799
01/01/2024
Incoming
Resources
Resources
Expended
Transfer
31/12/2024
£
£
£
£
£
1,124
2,378
(3,402)
100
169,129
4,287
(25,731)
(7,248)
140,437
5,000
78
(5,078)
-
5,134
(5,134)
-
-
2,668
-
2,668
180,387
9,411
(34,211)
(12,382)
143,205

20. Designated Funds

Groups:

These Groups provide local outreach from the Church premises. During 2024 the Mid-week Meeting bank account was closed and the Christians Against Torture bank account incorporated into the Church bank accounts.

Legacy:

A substantial legacy (the "Williams' Legacy") was received in 2019 and, with approval of Church members, the Trustees decided to set aside a significant portion of it to be available for future projects. £57,880 remained unspent at 31st December 2024 (2023 £83,229), excluding the Kingdom Bank reserve (below).

Kingdom Bank:

£85,000 from the "Williams' Legacy" has been transferred as a longer term reserve. The balance unspent at 31st December 2024 was £90,541 (2023 £87,788) .

Arch (Youth Worker):

A donation was received during 2021 to assist with the costs of employing a Youth Worker. With the donor's permission, in 2024 this was utilised to replace the arch and main gates to the Church.

Minister's Saving:

During 2023 the Minister (Rev Gethin Russell-Jones) reduced his hours by 20%, and in 2024 the Trustees agreed to create a Designated Fund to reflect the monthly savings.

24

ARARAT BAPTIST CHURCH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

YEAR ENDED 31st DECEMBER 2024

20. Designated Funds (continued)

Previous Year
Group Activities
Legacy (incl Kingdom Bank)
Donation for Arch (Youth Worker)
The Ark		 01/01/2023
Incoming
Resources
Resources
Expended
Transfer
31/12/2023
£
£
£
£
£
989
4,484
(4,349)
1,124
210,849
3,392
(25,961)
(19,151)
169,129
5,000
-
-
5,000
12,702
63,121
(70,689)
5,134
229,540
70,997
(100,999)
(19,151)
180,387

21. Analysis of Balance Sheet

Tangible Net Assets
Investments
Bank
Previous Year
Tangible Net Assets
Investments
Bank
Other Net Current Assets
Other Net Current Assets		 Unrestricted
Restricted
TOTAL
£
£
£
2,640,562
39,525
2,680,087
315,000
-
315,000
109,464
106,124
215,588
82,758
(23,237)
59,521
3,147,784
122,412
3,270,196
Unrestricted
Restricted
TOTAL
£
£
£
2,682,558
33,807
2,716,365
315,000
-
315,000
207,829
308,707
516,536
(19,588)
-
(19,588)
3,185,799
342,514
3,528,313

22. Retirement Pension Schemes

The Church is a participating employer in a Defined Contribution pension scheme known as the Baptist Pension Scheme (“the Scheme”), which is a separate legal entity administered by the Pension Trustee (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 8% of their Pensionable Income and employers pay 6% of members’ Pensionable Income into individual pension accounts, which are operated and managed on behalf of the Pension Trustee by Broadstone Corporate Benefits Ltd. In addition, the employer pays a further 4% of Pensionable Income to 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-term incapacity. This income protection policy has been insured by the Baptist Union of Great Britain with Aviva Limited. At the year end there was one member of staff in the Scheme.

Private Pension Schemes

The Minister has his own Defined Contribution private pension schemes into which he and the Church make monthly contributions.

23. Related Parties

25

ARARAT BAPTIST CHURCH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

YEAR ENDED 31st DECEMBER 2024

23. Related Parties (continued)

Cardiff Baptist College £2,500 (2023 £2,499)

No amounts were outstanding during the current or prior year regarding the transactions above.

24. Custodian Asset

A leasehold property at Blandon Way, Whitchurch was bequeathed in Trust to the Church in June 1999, on condition that the property would pass to the Church only when it became vacant following the named current tenant, who is still in residence. The lease of the property expires in 2078.

25. Reconciliation of Net Income/(Expenditure) to Net Cash Flow from Operating Activities

Reconciliation of Net Income/(Expenditure) to Net Cash Flow from Operating Activities Reconciliation of Net Income/(Expenditure) to Net Cash Flow from Operating Activities
2024
Note
£
(258,117)
Adjustments for:
- Depreciation
12.,13.
47,251
- (Increase) / decrease in debtors
14.
(5,042)
- (Increase) / decrease in stock
(951)
- (Decrease) / increase in creditors
17.
13,347
Net cash provided by /(used in) operating activities
(203,512)
Analysis of Cash and Cash Equivalents
Cash in hand and in Bank
15.
215,588
215,588
Operating Leases
Unrestricted
Restricted
Total
£
£
£
The following operational leases were in existence at 31st December 2024
Due in less than 1 year
3,816
-
3,816
Due in 2–5 years
1,225
-
1,225
5,041
-
5,041
Net income/(expenditure) for the
reporting period (as in the Statement of
Financial Activities)		 2023
£
(90,832)
46,896
(4,933)
410
19,710
(28,749)
516,536
516,536
2023
£
4,509
6,592
5,041
-
5,041		 11,101

26. Operating Leases

26

ARARAT BAPTIST CHURCH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

YEAR ENDED 31st DECEMBER 2024

27. COMPARATIVE STATEMENT OF FINANCIAL ACTIVITIES

YEAR ENDED 31st DECEMBER 2023

Income
Donations & Legacies
Charitable Activities
Investment Income
Other Income
Total Income
Expenditure
Charitable Activities
Total Expenditure
Net income /(expenditure) for the year
Other recognised gains / (losses)
Revaluation gains/(losses) on fixed assets
Revaluation gains on investment assets
Net Movement in Funds
Reconciliation of Funds
Total Funds brought forward
Total Funds carried forward		 Unrestricted
Restricted
TOTAL
£
£
£
130,159
7,261
137,420
110,183
110,183
16,676
3,803
20,479
253
300
553
257,271
11,364
268,635
352,323
22,379
374,702
352,323
22,379
374,702
(95,052)
(11,015)
(106,067)
-
-
-
15,235
-
15,235
(79,817)
(11,015)
(90,832)
3,265,616
353,529
3,619,145
3,185,799
342,514
3,528,313

27