Market Harborough Baptist Church Report and Accounts for the Year Ended 31 December 2024
Market Harborough Baptist Church Charity Information For the Year Ended 31 December 2024 Status The Church is a Registered CharÉty and is affiliaied to the Baptist Union of Great Britain Cbarity Registratioll Number 1132945 Charity Trustees Rev C.S. Brow C Gathercole L MUhY DFew M Jones H Gathcrcole J Chew J Guilford A Zemlak M Brown Ex Officio & Chair Secrelary Treasurer appointed 23.05.24 Appointed 23.05.24 Appointed 23.05.24 Resigned 23.05.24 Resigned 23.05.24 Address for Correspondence 25 Coventry Road Market Harborough Leicestershire LE16 9BX Independent Examiner Callum D. Veasey A.C.A. Edward Thomas Peirson & Sons 21, The Point Rockingham Road Market Harborough Lcicc5tcrshire LE16 7NU CONTENrs Page Charity Infonnation Trustees, Annual Report Independent Examiner's Report Statement of Financial Activities Balance Sheet Notes to the Accounts 24 8-14
Market Harborough Baptist Church Trustees, Annual Report For the year ended 31 December 2024 The Trustees present their report and funCIal statements of the charity ("the Cburch") for ihe year ended 31 st December 2024. The Trustees have adopted the provisions of the Staiemenl of Recommended Practice (SORP) "Accounting and Reporting by Chariiies" (FRS 102) in preparing the annual report and Fan¢al staiements of the charity. The financÈal statements have been prepared in accordance with the accounting policies set out in the notes to the accounls and comply 1th the Church's governing document, the Charities Act 2011 and Accounting and Reporting by Charilies.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ereland published in October 2019. Structurey governanee and management The Church is governed by the Baptist Union of Great Britsin Constitution dated 12 June 2022 and Teceives advice, guidance and support from East Midlands Baptist Association. It is an unincorporated charity registered with the Charity Con)mission for England and Wales. The Church Trustees are responsible for the governance of the Church and the fiilfilmeTht of its purpose. The Trustees are appointed at a Church Members. Meeting. They will always include the Minister and Church Leadership compTisÈng Secretary and Treasurer together with any number of other members as agreed at the Meeting. Each Trustee, apart from the Minister, Secretary and Treasurer, sball be appointed for an inits.al three year terni with the opportunity for reappointment for one fillther three year tenn. Any person qualified to be a Member of the chuTch shall be eligible for appointment unless disqualified by statute. The Secreiary and Treasurer are appoinied annually. Objectives and activities Mllrket Harborougb Baptist Church is a church in the heart of Market Harborough who love Jesus and who love our community. The principal objective of the Church is to praclice the Christian faith with inlegrity and in ways that bless the church family and the community. The Church abides by the Declaraikon of Principle of the Baptist Union of Great Britain. The Trustees have complied with the duty in Seclion 4 of the Clwities Act to have due regard to the public benefit guidance published by the Charity Commission. BeariThg in mind the public benefit guidance. the main activities of the Church are listed below: - regular public worship, prayer, Bible study, preaching & leaching - the sacraments of Holy Communion (monthly) and bapiism (on request) evangelism & Mission, locally, Tegionally, nalionally & internationally - pastoral care & safeguarding - Special services including weddings, fimerals & infant blessings - children, youth & families, ministries - nurture & grnrth of Christian disciples through sniall groups - giving of time, resources, talents & skills within the church family and community - supporting & encouraging charitsble social action in the United Kingdom & abroad - working in partnership with other churches & denominaiions within the community - cornmunity support groups such as Renew Wellbeing
Market Harborough Baptist Church Tru5tees' Annual Report for the )"ear ending 31 December 2024 Achievements and Performance The Church has seen slow and steady growth in 2024, welcoming new people to the church family, including new members and baptisms. The Renew Wellbeing café bas a well established and very warni and welcotning community of around 30 people who seek to attend io their mental health and wellbeing together. The cafe also enjoys very strong links with the local district council, GP surgery. mental health professionals. social prescribers, counselling centre and other voluntary organisations within the town. The cafe is the second largest relerrer of foodbank requests. Small group fellowship COntueS to be a vital part of the discipleship of the church. with new people joining existing groups, so that now approximately 750/0 of the church family belong to a small group. The children within the church family and witbin the conllnunity have been supported by Fun and Friends PTe-s¢hool group (weekly) and Messy Church primary school group (every l O week%). both are well aitended. The pastoral team have continued to provide care for the mosl vulnerable withi'n the church family througb visits, transporL calls, advice and other types of help and support. The Pastor continues to lead the Church witb vision as well as being involved in many different groups and ministries. The Pastor continues to serve the community as the Chair of the Ministers, Fellowship within the t0Th, which is a support network for Christian ministers from all streams of the Cllristian faith. The Pastor also headed up the ieam for Easter Live on tbe Square, a new festival for the town to celebrate Easter in ?0?4. Sadly the poor weather meant the event was cancelled so will now taken place at Easter 2025. The Church, through prayer and fmancial giving, continues to be self-sustaining and is in a financially healthy position. Furthermore, the Church has supported the ongoing work and ministry of Christixn organisations such as BMS World Mission, Tearfund and EMBA Home Mission in their work locally. regionally, nationally and internationally. As a Church we are thank1 and grateful to all who have supported the wotk of MHBC spiritually, practically and financkally during this past year. Financial review Total incoming resources for the year amounied to £120.764. of which £118.494 were completely unrestricted. The completely unrestricted income was increased from the preiOUS year, as offerings and gift aid increased. There was no designated income again this year. Restricted fimd income remained small as there are no major projects underway at the present time. Expenditure for the year was £135.672, of which £1,200 was from restricted funds matching the donation toward5 the new wifi in the year. The balance of the restricted fund has been paid to the Specific Causes for which it was raised in the following year. General unrestricted fund expenditure was £133.151 an increase on the previous year mainly due to the replacement of the boundary wall. Designated fund expenditure of £1:321 is due to spending from the Walton fund on Alpha. Therefore, the flet expenditure for the year was £14,908. As a result, total funds decreased by this amount io end the year at £1,288,561 of which £45:656 (2023.. £60,313) represents general funds which have not been designated for a specific puOSe. The overall result for 2024 is a deficit of £14,908. A deficit has arisen on the designated unrestricted funds of £1,321 and a surplus on the restricted funds of £1,070. The general unrestricted funds showed a deficit of £14,657.
Market Harborough Baptist Church Trustees, Annual Report for the )'ear ending 31 December 2024 Reserves policy The Church requires general reserves, that is funds that are freely available to spend in furtherance of its objects, to provide cover againsi any fiittwe deficits. The Trustees believe that a level of general reserves equivalent to at least three montbs expenditure should be sufficient and appropriate for the needs of the Church. This is calculated to be in the region of £23,000 so the level of general reserves at 31 December 2024 may be slightly lllgh. The Tntee$ will continue to review the position at regular intervals. This report was approved by the TnteeS on 10 September 2025 and signed on their behalf by: Lorna Murphy. Treasurer Cliff Gatbercole. Secrelary
Independent Examiner's Report to the Trustees of Market Harborough Baptist Church I report to the charity trustees on my examination of the accounts of the charity for the year ended 3 1st December 2024 which are set out on pages 6 to 14. Responsibilities and basis of report As the charity's tNstees, the membe[5 of thc Leadetship Team are responsible for the preparation of the aecounts in accordance with the requirements of the Charities Aci 2011 ('the Act,). I report in respect of my examination of the charity's a¢¢ounts carried out under section 145 of the Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act. Independent examiner's statement I have completed my examination. I confirni that no material matters have come to my attention in connection with the examination giving me Cause to believe that in any material respec1= accounting records were not kept in respect of the charity as required by section 130 of the Act; or the accounts do not accord with those records. or the accounts do not comply with the applicable requirements concerning the form and ¢ontent of accounts set out in the Charities (Accounts and Rewrts) Regulations 2008 other than any requirement that the accounts give a 'true and fair view. which is not a matter considered as part of an independent examination. I have no concerns and have come across no other matters in connection with the examination to which attention should be drnwn in this report in order to enable a proper UndetandIng of the accounts to be reached. Callum D. Veasey A.C.A. Dated 10-Sep-25 For and on behalf of= Edward Thomas Peirson & Sons Chartered Accountants 21, The Point Rockingham Road Markct Harborough Leics, LE16 7NU
Market Harborough Baptist Church Statement of Financial Activities For the Year Ended 31 December 2024 General Designated Unrestricted Unrestricted Restricted Funds Funds Funds Total Fund5 Total Funds 2023 Note 2024 INCOMING RESOURCES FROM: Donations. pledges & grants Church activities Investments 21a) 2{b) 2(c) 104.412 12,669 1,413 2,270 106,682 12,669 1,413 100,059 14,975 662 Total income 118,494 2,270 120,764 115,696 EXPENDITURE ON: Charitable activities Church activities & adrnillistration 10,372 122,779 10,372 125,300 13,998 111,434 1.321 1.200 Total expenditure 133,151 1,321 1,200 135.672 125,432 Net income/{expelldithre) (14,657) (1,321} 1,070 (14,908) (9,736) Transfers bctwccn funds Net movement in funds (14.657) {1,321) 1.070 (14.908) {9,736) Total funds brought forward 60,313 1,243.156 1,303,469 1,313,205 Total funds carried forward 12 45,656 1.241.835 1,070 1,288,561 1,303,469 All income and expenditure derive from continuing activities Movements on reserves and all recognised gains and 10sse5 are shown above. The notes on pages 8-14 forni part of these accounts.
Market Harborough Baptist Chureh Balance Sheet as at 31 December 2024 Note 2024 2023 FIXTD ASSETS Tangible assets 1200,000 1,200,717 1,200,000 1,200,717 CURREL¥T ASSETS Debtors Cash at bank 6,040 91,112 5,626 106,538 io 97,152 112,164 CURRENT LIABILITIES Creditors: Amounts falling due within one year li 8,591 9.412 Net cuent &5sets 88,561 102,752 NET ASSETS 1,288,561 1,303,469 12 Unrestricted funds General funds Designated funds 45,656 1,241,835 60,313 1,243,156 1.287,491 1,070 1,303,469 Restricted funds TOTAL CHARITY FUNDS 1,288,561 1,303,469 Approved by the Church Trustees and signed on their behalf on 10 September 2025 by: Lorna Murphy, Treasurer Cliff Gathercole. Sectary The notes on pagc 8-14 fomi part of these accounts.
Market Harborough Baptist Church Notes to the Aecounts For the Year Ended 31 December 2024 Accounting Policies a) The Church congtitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with Accounting and Reporting by Charitics.. Statcment of RecoTnmended Pra¢iice applicable to charities preparing their accounts in accordance with ihe Financial Reponing Standard applicable in the UK and Rcpublic of Ireland IFRS 102) issued in October 2019 "SORP {FRS 102)" the Financial Reporting Srandard applicable in the UK and Republic of Ireland (FRS 102). and ih¢ Charities Act 2011 and UK Generdlly Accepred PracliLe as it applies from l January 2015. The fiDaDcial statements hav¢ been prepared to give a 'trne and fair. view and have departcd from the Charities (Accounts and Reports) Regulaiions 2(K)8 only to the extent required to provide a "truc and fair view . This departure has involved following the Accounting and Reporting by Charities.. Statement of Recommended Practicc applicable to charitics preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ircland (FRS 102) in (kiober 2019 rather than the Accounting and Reporting by Charities.. StatetneDt of Recomtt]endcd Practice effective from l April 21)05 which has since been withdrawn. The financial siatements have been prepared on a going concern basis under the historical cost convention. m(xJified io include certain items at fair value, they are presented ID sterling which is the functional currency of the Church and rounded lo the nearest £. The financial statements include all trdnsactions. assets and liabilities for which the Church is responsible in law. The going concern basis is considered to be appropriate and tbe Churcb's inci)me stream is coutilluing at a satisfactory level. The significant accounting policies applied in tbe preparatioll of these fiDaDcial statettkellls are set out below. These policies have been consistently applied to all years presetkted uuless otberwise stated. b) Funds Resirietedfiinds comprise revenue donations or grdnts for a specific Church activity intended by the dollor and funds raised by the Church for particular purpos. Where these funds have unspent balances, interest on their pooled invebrmenl is apportioned to the individual funds on the average balance basis. Designatedfiin&¥ are getieral funds set aside by the Church for a Sptfi¢ purpose, they remain unrestri¢led and the Church &Y move any surplus to other gcncral fvnds. UnrestricÈedfunds are geDerdl funds wbich may be used by tbe Church ID furtheraDce of its general objectives. ¢) Income recognition Income is included in the Statement of Financial Acriviiies where the Church is legally eniitled io the income, any perfornianee conditions have been met. the amount can be measured reliably alld it is probable that ihe income will be received. If Conditions are attached to a grant or donation and this requires a level of perfomance before entitlement can be obtained the recognition of the income is deferred until those conditions are fully met or the fulfilment of those conditions is within the control of the Charity and it is probable that they will be fulfilled. Tax refunds under the Gift Aid Scheme are recognised in the peri in which they are received. Gifts in kind donatcd for the use of the Church are recognised in income at their fair value. that being the value of the gift to the Church, at the point thcy gain control over thcm. with an equivalent amount being rccogniscd as a Lomponent of expenditure. Gift5 in kind donated for resale are recogDised whcn sold due to tbe itllpracticality of obtaining a fair value for them when donated, other fundraising income is recogDised when entitlement bas occurrsj. All incoming resources are accounted for gross of any related expenditure. No amount is included in the fittancial statements for volunteer time ill line with the SORP {FRS 102}.
Market Harborough Baptist Church Notes to the Accounts For the Year Ended 31 December 2024 d) Eypendilure recognilio All expenditure is accounted for on 3n accruals basis and is recognised, gross of any amounts recoverable, where there is a legal or constructive obligation lo make payments lo third parti¢S, it Is probable that settlement will be required and the amount of the obligation can be mcasured reliably. As the Church is not VAT restered the expenditure includes irrecoverable VAT. e) Tangiblefixed a¥sel Tanble fixed assets are capitali5¢d if they can be used for more than one year and have a cost of at least £1,000. No depTeeiation Is provided on freehold land and buildings and depreciation on equipment and fixture5 is charged at 20fy/0. Debiors and creditors receivable/p<tyable within oneyear Debtors and creditors with no stated intcrest rate and receivable or payable within one year are recorded at transaction price. Any losses arising Irom impainnent are recognised in expenditure. g) Grants payable Grants payable are only recognised in the accounts when a committment has been made and if conditions are attached to grant or donation which requires a level of perforniance before entitlement can be obtained the recognition of expenditure is deferred until those conditions are fully mel or the fulfilment of those conditions is within the control of the Church and it is probable that they they will be fulfilled. h) Financial instniments The Church only has financial assets and financial liabilities of a kind that qualify as basic fmancial instruments, all of which are measured al transaction valu¢. Ineoming Resources from: General Designated Unre5tri¢ted Unrestricted Restricted Funds Funds Funds Total Funds 2024 Total Funds 2023 a} Donations. pledges & grants Offerings Donations & other income Tax recovered under Gift Aid Spurgeons Tearfund (Harvest) Operation Agri B.M.S.l Home Mission Boxes In memorium Churches Together unity service 81.678 5,131 17,554 81,678 7,016 17,554 79,850 5.578 10,946 741 770 1.885 385 385 50 915 660 600 50 104,412 2,270 106,682 100,059 Income of £3.025 from donations, pledges and grants in 2023 was restricted.
Market Harl)orough Baptist Chureh Notes to the Accounts For the Year Ended 31 December 2024 Jncomillg Resources from (continued): General Designated Unrestrieted Unrestricted Restricted Funds FuDds Funds Total Funds 2024 Total Funds 2023 b) Church activities Rent for use of halls Coffec Tnornings Small fundraising activities Café stock sold Pastoral event & Church trips 12.669 12,669 12,700 632 1,643 12.669 12.669 14,975 There was no restricted income from church aclivilies in 2023. c) Investments Bat & other interest HSBC Compensation 1.413 1.413 662 1.413 1,413 662 There was no restricled incomc from investments in 2023. Expenditure on: General Designated Unrestricted Unrestricted Restricted Funds Funds Funds Total FuDds 2024 Total Funds 2023 Charilable activities: Spurgeons childcare B.M.S. World Mission E.M.B.A. Churche5 Together Operation A1 Tearfund (Harvest) 741 6,060 5,827 600 4.975 4.975 422 4,975 4,975 422 770 10,372 10,372 13,998 Chur¢h activities & administration.. Upkeep & renovation of prerntses Ministry Manse expenses Focus group Administration expenses Activity expenses Other expenses Governance costs ( note 4) 52,491 31.759 6.124 52,491 31,759 6,124 140 30,300 1,981 229 2,275 41,322 29,991 9,227 25 24,228 4,184 440 2,017 140 29.100 800 229 2,275 1.200 i.lsi 122,779 1,321 1,200 125,3(K) 111,434 Expenditure in 2023 included the following amounts attributsble lo restricted funds. Charitable activities £3,028. io
Market HarlTroroygh Baptist Church Note5 to the Accounts For the Year Ended 31 December 2024 Total FuDds Total Fullds Covernanee Costs General Desi2nated Unrestricted Unrestricted Restricted Funds Fund5 Fund5 2024 2023 Independent Cxaminels rernuncration Trustees reirnbursed exper5 .500 775 1.500 775 1,452 565 2.275 2,275 2,017 IndepeDdeDt Examiner's Remvner4tioD The independent examin&s remuneration consisted of an independent examination fee of £1.51)0 (2023.. £1,452). Tru5tee5 and Key Management Personnel Remuneratioll and Eipen5es Reverend C.S. Brow a twstee, has received a stipend for his emplo5rynent as minister rather than as a tstee whtch is included in the figures at Note 7. In addition the Tninister aTMI two other Trustees received reimbursed expenses totailing £4,468 (2023..£4,597). These expenses were for ministry, church activities. o]uiprnent & fixtures. travel. property maintenance. courses and tsaining, stationery and gifts. The Church ¢onsidets thai it has no key management personnel other than the Tnjstees themselves. Stsff Cost5 2024 2023 Gross wages. stipend and self-eTnployed Ernployei's Naiitsnal Insurance costs Pension costs 41.173 36.078 3.671 3.363 44,844 39,441 The average number of employees for the year is 312023= 3) plus self-employed 2 (2023= 1) Freehold Ffixtures & Properties EquipmeDt Tangible Fixed Assets Total Cosi or valuation At l January 2024 Additions Disposals 12(X).000 7,946 1.207.946 At 31 December 2024 I,2,000 7,946 1,207,946 Accumulaied deprectation At l January 2024 Charge for the vear Written off on disposal 7,229 717 7.229 717 At 31 D¢c¢mb¢r 2024 7,946 7,946 Net book N'alue At 31 December 2024 1,200,000 1.200,000 At l January 2024 1.200.000 717 1,200.717 The freehold properti¢s comprise the Church land aT]d buildings and the Manse land and buildings. These properti¢s w¢rc revalued for insurance purposes on 31 December ?006 and this 'aluatIOn (Church £950,000, Manse £250,000) was taken as deemed cost on transition lo SORP (FRS 1021 on l January 2015. there are no 5ub5equent additions. The original cosi of the Church land and buildings was £4.500. Thc Church was valued for insurance purposes in March 2022 and its rebuild alue including contents was £3.243,613.
Market Harborough Baptist Cburch Notes to the Accounts For the Year Ended 31 December 2024 Debtors 2024 2023 Prepaid expenses Accrued income Other debtor8= Hall rents 4,274 5,035 1.766 591 6,040 5,626 10 Cash at Bank and in Hand 2024 2023 Bank & Building Society a¢¢ounts 91,112 106,538 91,112 106,538 11 Creditors: Amounts falling due Ivithin one year 2024 2023 Accrua18 and deferred income: Independent examination fee Utilities HMRC Other creditors Due to BMS/EMBA 1,500 1,140 1,452 840 1,217 2,192 3,711 3,481 2,470 8,591 9,412 12
Market Harborough Baptist Church Notes to the Accounts For the Ye2r Ended 31 December 2024 12 Movement of Funds Balances at Incoming l Jan 2024 Resourees Resourees Transfers & B2lan¢e$ at Expended Rev2lllAtions 31 Dec 2024 Restricted Funds Building Reserve Specifsc causes 2,270 (1,200) 1,070 2,270 (1,200) 1,070 Unrestricled Funds (Designated) Church Land & Buildings Manse Focus group mini.stry Walton 950,0 250,000 230 42,926 950,000 250,000 90 41,745 {140) (1,181) 1243,156 (1,321) 1,241,835 Unp'esti'icted Funds (General) Unrestricted Funds 60,313 118.494 (133,151) 45,656 60,313 118.494 (133,151) 45,656 Unrestricted Funds (Total) 1.303,469 118.494 (134,472) 1,287,491 TOTAL FUNDS 1,303,469 120,764 (135,672) 1,288,561 Restricted Funds are funds that can only be expended on the restricted purposes intended by the donor. The only material restricted fund is the Building Reserve for the renovation and upkeep of the Church buildings Designated Funds are unrestricted funds thai the trustees have set aside for a specific purpose. Material designated funds are as follows: Church Land & Buiidtngs and Manse are dcsignated as they are funds invested in the fabric of the actual buildings Ministry Walton fund is designated for minislry purposes from monies trdnsfeTred from Walton Baptist Chapel on its c105ure. Unrestricted Funds are general funds which may be used by the Church for furtherance of its objectlV¢5 13
Market Harborough Baptist Church Notes to the Accounts For the Year Ended 31 Deeember 2024 12 Movement of Funds (Continued) The movcrntS in fvnds for thc prcvious fin8n¢ial year were as follows.. Balances at l Jan 2023 Incoming Res0reeS Resources Transfers & Balance5 at Expended Revaluations 31 Dec 2023 Re5trtcted Fiinds Building Reserve Specific causes 3,025 (3.0281 3.026 {3.0?81 Unreslricied Fiinds (DesIgnad) Church Land & Builditigs Manse Focus group Ministy Walton 950,0(K) 250,000 255 44,260 950.000 250,000 230 42.926 {25) (1,334) 1244.515 (1,359) 1,243.156 Unreslricted Funds (General) General Fund 68,687 112.671 (121.0451 60,313 68,687 12.671 (121.045) 60,313 Unrestricted Fund5 (Tolal) 1.313.202 112,671 (122.404) 1,303,469 TOTAL FUNDS 1,313.205 115,696 (1 ?5.432) 1.303.469 Analysis of Net Assets behveen Funds RestTi¢ted Designated Funds Fulld5 Genernl Funds Total Funds Tangible fixed asscts Bank balances Debtors Creditors 1,200.000 41,835 1.200.000 91,112 6.040 {8.591) .070 48,207 6,040 (8,591) 1,070 1,241.835 45.656 1,288,561 The analy%is of net assets between funds for the previous year was as follows: Restricted Deslgnated Funds Funds General Funds Total Funds Tan(yible fixed asscts Bank balances Debto Creditors 1,200.0(K) 43.156 717 59.671 5.626 (5.701 > 1,21Mi,717 106,538 5,626 (9,412} 3,711 {3,711) 1243.156 60.313 1,303,469 13 Related party transgctioDS Trustees of the Church made donations during the Y toialling £15.780 wiihout any condition5 attachcd and £1,200 towards the new wifi costs. 14