## Annual Report 2024 ## Contents Trustees’ Report for Year Ending 31[st] December 2024 Introduction Name, registered office and constitution of the charity Objectives and activities of the charity A summary of the objects of the charity as set out in its governing document Summary of the main activities of the charity in relation to its objects Achievements and performance of the charity Summary of the main achievements and performance of the charity during the year Public benefit that is provided by the charity **----- Start of picture text -----**
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Structure, gov
ernance and
management
of the charity
a
Financial re-
view
Related Parties
and transac-
tions with re-
lated parties
The members
of the Board of
—— Trustees of the
charity at the
date the report
and accounts
were approved
were:
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Independent Exam
iner's Report to the
Trustees of Ceme-
tery Road Baptist
Church
Finance Report for
Year Ending 31 December
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Statement of Financial activities for the year ended 31 December Balance Sheet as at 31 December Notes to the Accounts 1 ## Trustees ’ Report for Year Ending 31[st] December 2024 . ## **Introduction** The Trustees are pleased to present their report and accounts for the year ended 31st December 2024. The financial statements comply with current statutory requirements, the Statement of Recommended Practice – Accounting and Reporting by Charities (revised 2005). ## **Name, registered office and constitution of the charity** The full and only name of the charity is Cemetery Road Baptist Church. The legal registration details are: _Date of formation_ 1839 _The Principal Office is_ 11, Napier Street, Sheffield S11 8HA _Charity Registration Number_ 1132964 _The telephone number is_ 0114 272 2179 Cemetery Road Baptist Church (the Church) was formed as an unincorporated charity in 1839. It was excepted from registration with the Charity Commission under section 3 (5) (b) of the Charities Act 1993. This exception was withdrawn when the Charities Act 2006 came into force. During 2009 the Church adopted a new constitution (based on the model provided by the Baptist Union of Great Britain) and applied to the Charity Commission to register. This application was accepted on 25th November 2009. ## **Objectives and activities of the charity** ## **A summary of the objects of the charity as set out in its governing document** The objectives of the Church are set out in the constitution (adopted on 8th September 2009), as follows: “The principal purpose of the Church 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 and/or other parts of the world.” The new constitution also states that the activities of the Church may include, but are not restricted to: - regular public worship, prayer, Bible study, preaching and teaching; - baptism, as defined in the Union’s Declaration of Principle; - Holy Communion, which will usually be observed at least once a month; - evangelism and mission, locally, regionally, nationally and internationally; - the teaching, encouragement, welcome and inclusion of young people; - nurture and growth of Christian disciples; - education and training for Christian and community service; - giving and encouraging pastoral care; - supporting and encouraging charitable social action in the United Kingdom and abroad; - encouraging relationships with and supporting Baptists and other Christians. 2 ## **Summary of the main activities of the charity in relation to its objects** Church's services are held at least once a week and are open to members of the community. Holy Communion is usually observed once a month and baptismal services are held as appropriate. Each service includes prayers of intercession and in 2014, we installed a post box outside the Church for prayer requests from the local community. Every Sunday during the church service we offer activities for children and young people from 0 to 18 years of age. We offer a warm, welcoming and multicultural Junior Church, with a well-resourced crèche for the little ones and groups offering snacks and age-appropriate crafts, games, bible learning and discussion for the older children and young people. The work of the Church involves outreach projects which are planned to honour our commitment to serve God through caring for those in need and, when appropriate, to share the Gospel and introduce the Christian faith. Examples of this include a weekly toddler friendly drop-in coffee morning on Tuesdays called “Connect”, a weekly community craft group called “Kingdom Kraft”, participation in community events such as the Sharrow Festival and the Lantern Festival. We have also been glad to continue to host a meal making group who turn donated food from local shops into ready meals to be given to those who need them. They prepare and store these in the church kitchen and deliver them from there. Within the fellowship of the church we encourage people to belong to one of the smaller groups for the specific purposes of Bible Study, Prayer and Fellowship. This enables closer friendships and fellowship to take place. Approximately 20-30 people belong to one of the 3 Fellowship groups that meet twice a month, two in person and one on line. The meetings usually involve a bible study or topical discussion (with reference to the Bible), a time of sharing and a time of prayer. During lockdown an enterprising member started a highly successful “Click and Connect” group on Thursday mornings which has now become a home study group in addition to the groups which are now able to meet again. Financially the Church relies on collections and donations from its members and others to support these activities, as detailed in the accounts. We also hold a number of special collections or appeals throughout the year to raise money for causes that the Church particularly wishes to support. Traditionally, the Church also holds an appeal each year at the time of the Church Anniversary. ## **Summary of the main achievements and performance of the charity during the year** ## **Ministry Review** Revd Andrew Ginn has continues to lead us, moving forward as: - A **welcoming** community for people of all ages and backgrounds, helping people join in and belong - A **Spirit-filled** community, praying, worshipping, and growing in the Fruit and gifts of the Holy Spirit - A **connected** community; a church that is more than Sundays, growing in love for one another - A **learning** community; growing in our knowledge and love of God, from the Bible and one another, as followers of Jesus - A **sent** community; going into the world to serve and make disciples. 3 ## **Church Growth** 2024 was an exciting year of growth, with 3 infant dedications, 5 believers’ baptisms, and 12 adults coming into Church Membership, as well a growth in the wider church family and Sunday Service attendance. ## **Congolese Fellowship** In March 2014, two families of Congolese refugees started worshipping with us on a Sunday and asked if they could use one of our rooms for a prayer meeting on a Sunday afternoon. They were keen to meet and be able to praise God and pray in their native tongue. We agreed. Little did we know at the time how it would snowball. The group rapidly grew, with many Congolese families joining the Fellowship on a Sunday morning, and the praise and prayer meetings have become a regular feature of life at Cemetery Road Baptist Church, filling the Church with African music on a Sunday. This has now grown into Cross Cultural work to meet the needs of an ever more diverse group originating from Africa. The Congolese fellowship has continued to thrive and meet every Sunday. One of the Congolese fellowship is one of the church trustees, Riziki Mugemi, who provides excellent support and helps us to interact across the language barrier. The Congolese choir often sing at the main service and we have communion services across both communities as we share bread and wine. ## **Iranian and Kurdish Fellowship** The Iranian fellowship has become rather reduced in numbers following lockdown and the subsequent re-opening. They continue to meet on Thursday evenings under the leadership of Peter Shepherd, a church member, and of Roo Mahmood, an ex member who speaks Persian. They have a regular group of approximately 8 members, mostly in person but some via Zoom. Several of their regular membership also attend the main Sunday service, mainly those who speak better English. ## **Junior Church and Youth Work** We do still have a significant number and the youth leaders are still running classes every Sunday to accommodate juniors of all ages from creche up to 18. They are accommodated in 3 separate age groups with occasional “All-ages” events such as films or trips to the park. Several of the older teens help with the church IT including streaming the service for those people who cannot attend in person. ## **Outreach** The Munch Club, which took place on Tuesday mornings, ended due to a combination of factors. This has been replaced by the Connect meeting at the same time. This is an open invitation for all ages to come to the church for company, light refreshments and fellowship. This usually attracts about 30 people, including small children and their mums, and is a mix of church members and local people. 4 A group of talented volunteers lead a fortnightly “Kingdom Krafts” group who meet to share company as they complete craft projects of various types. This has several regular attenders ## **Pastoral Care** The Visitation Committee has kept in touch with various church members who have been unable to attend, for various reasons. The Zoom services and subsequent streamed services have been well received by those members unable to attend church in person. We have continued to be in touch with all our members and offer prayers and practical help for all those in need, including cooking, transport and other help as required. The membership team now conduct annual reviews of all members. ## **CRBC social media** Since the church re-opened in 2021 the Sunday services have been streamed live during the service and are available afterwards for members to watch when they can. This has been very helpful for those members who have difficulty in attending in person and has been very well received by many people. We have a church WhatsApp group which has been very useful for keeping in touch. The church also has a website which is under regular review and on which details of services etc can be found. This has been updated as we have been updating our whole IT system to meet our more up to date demands. ## **Property** PAG, the Property Advisory Group, have continued to look after the buildings throughout the year. The refurbishing of the church hall and entrance hall is now completed. The windows have been replaced with etched glass designed by artist Sarah Galloway after consultation with the church. The windows are beautiful and have been much remarked upon by the various groups who use the hall, including two local choirs. PAG have also reviewed the small caretaker’s house adjacent to the main church which has been used as a residence throughout. This has been refurbished and is rented to a private tenant. The church has now completed the purchase of a new manse using the existing funds from the sale of the previous building. This is being let to increase church income. The church is also in the process of reviewing our premises: their costs, our use thereof and what we feel we are called to do with our resources as a church. We have begun a process of exploring various possibilities, costs and time frames for refurbishments and other uses for our existing buildings ## **Supporting Other Organisations** 5 HMF and BMS. The church has resumed its financial support for these organisations within the Baptist Union. Local Foodbank. The church has made donations to the local food bank including items from our Harvest Festival service. Street Pastors. Several church members continue to take part in this valuable organisation on the streets of Sheffield. This requires them to be on the streets offering comfort and support as required overnight. ## **Future Plans** Our plans for 2025 are centred around discerning the will of God as we move to become a more welcoming, spirit filled, connected, learning and sent church - how do we see that in the local community? What best use can we make of our building in achieving those goal The Property Advisory Group is exploring costs and possible plans for refurbishing and perhaps changing various parts of our building. The lift needs updating for the benefit of all our members with mobility difficulties and other changes may be required. Several external groups are using our building at various times in the week for activities as diverse as support groups, choirs and other church groups who worship in our building. We continue to house the Food Project. ## **Public benefit that is provided by the charity.** The objectives of the Church and the public nature of the activities carried out to fulfil them, coupled with the open and free invitation to members of the public to participate in them, means they are accepted by the Charity Commission as giving rise to a public benefit. So, by working to meet our objectives, we are delivering a recognised public benefit. The trustees confirm that they have paid due regard to the guidance provided by the Charity Commission on public benefit in planning and managing these activities during the year. ## **Structure, governance and management of the charity** ## **Nature of the Governing Document and constitution of the charity** The Church is a member of the Baptist Union of Great Britain (BU) and the Yorkshire Baptist Association (YBA). The Church’s current constitution was adopted on 8[th] September 2009, it was based on the model for Baptist Churches agreed with the Charity Commission by the BU. This constitution recognises the authority of the “property trusts” created by the original Trust Deed dated 30 December 1860. These governing documents impose no specific restrictions on the Church’s activities, or on its investment powers, other than those imposed by general charity law. The model constitution for Baptist Churches made provision at various points for local practice to be adopted. Our ‘local practices’ are documented in our standing orders, which were approved by the Church meeting on 8th November 2011. 6 Important features of our constitution are that all matters are subject to prayer and God's direction, and so decisions are made or ratified at the monthly meetings of Church members. All appointments are made by the members at these meetings, and they also have the power to terminate such appointments. The appointed ministers of the Church retain oversight of all spiritual matters but are answerable to the Church meeting through the Deacons. Two key responsibilities of the managing trustees are to draw up an annual budget for each financial year, and to identify the major risks to which the charity is exposed when preparing or updating any strategic plans. During 2014 the Finance Advisory Group stood down and was replaced by the Finance Sub-Group of Deacons (a former member of the Finance Advisory Group was invited to join this group as well). The Church is satisfied that the systems are in place to mitigate their exposure to those major risks which have been so identified and reviewed. ## **The methods adopted for the recruitment and appointment of new trustees.** The constitution allows up to twelve members to be appointed as Deacons. Each such appointment requires approval by a majority of Church members. The Charity’s Managing Trustees are both the Deacons and the Minister(s). The Managing Trustees meet regularly to discuss and plan objectives and the implementation of them. The induction and training of new trustees is overseen by the Minister and longstanding deacons, drawing where appropriate on resources made available by the BU and YBA. The Church’s custodian trustees are the YBA, which is an incorporated body. ## **Financial review** Transactions and Financial position The Statement of financial Activities shows that during 2024 there was an overall surplus, after deduction of restricted and designated funds, of £9724. Unrestricted income was slightly higher than 2023, but expenditure on general running expenses was increased, resulting in a smaller deficit than the previous year. The church continues to rise to the challenge of finding sufficient funds to carry out the declared aims and objectives of the charity, as witnessed by the encouraging increase in the fellowships own financial support of the church. The total reserves at the year end, after accounting for unrealised losses and after revaluing investments stands at £2323025 compared with £2323598 at the end of 2024. Of these figures the value of our land and buildings remains the same at £2149959, and the value of our current assets has reduced which reflects our spending of unrestricted funds on the completion of The Warmer Welcome Project. This has had the effect of a decrease of our assets in the Balance Sheet being reported of £572.60. The performance of the church in terms of maintaining its ongoing work and developing its activities has already been described. In spiritual terms and in terms of delivering public benefit they represent a huge and vital part of the work of the church, though in financial terms many of them only ac- 7 count for relatively small sums. By contrast, much larger sums must be spent on running and maintaining the church building, to provide the base where these activities can take place and also the provision of staff to ensure that the charities aims and objectives are met. CRB Annual Report Financial details for 2023 ## Financial performance and achievements The performance of the church in terms of maintaining its ongoing work and developing its activities have already been described. In spiritual terms and in terms of delivering public benefit they represent a huge and vital part of the work of the church, though in financial terms many of them only account for relatively small sums. By contrast, much larger sums must be spent on running and maintaining the church buildings, to provide the base where these activities can take place and also the provision of staff to ensure that the charities aims and objectives are met. The church has again been blessed with excellent loyal and faithful financial support of our members, and on removing restricted grant income, it can be seen that almost many heads of income has increased compared to 2023. As the majority of our income is a mixture of planned giving, donations and legacies, a huge thank you is due to our members. Some of our costs increased during the year, such as our insurance and printing postage and stationery, the majority of our other expenses stabilized, enabling the church to once again support the work of Baptist World Mission and the Home Mission Fund, and increase our support by £4347. The church will continue to seek further grant income where appropriate, and accept the challenge of finding more financial support to ensure that our outreach and mission work can continue. ## **The members of the Board of Trustees of the charity at the date the report and accounts were approved were:** Secretary: Miss Lois McGrath Treasurer: Mr David Timms Deacons: Mrs Yvonne Timms, Mrs Bev Caton, Mrs Issie Dexter, Mrs Riziki Mugeni, Mr Paul Riley, Dr Tony Cowling, Mrs Hannah John, Mr David Timms, Miss Lois McGrath, Mr Andrew Atkin, Mr Jonathan Eales ## **Trustees' responsibilities statement - unincorporated charity** The trustees are responsible for preparing the Trustees’ Annual 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 & 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 period. In preparing these financial statements, the trustees are required to: - select suitable accounting policies and then apply them consistently. - observe the methods and principles in the Charities SORP. 8 - make judgements and estimates that are reasonable and prudent. - state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements. - prepare 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 proper 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. ## **This report was approved by the Board of Trustees on 9[th] October 2025** **Rev’d Andrew Ginn Church Minister** 9 Independent Examlnerfs Rewt to the Trustees of Cemetery Road Baptlst Church I report on the accounts of the charity for the year ended 31" December 2024 which are set out on pages 11, 12, 13 and 14 Respective responsibilities of trustees and examlner The charl￿5 trustee5 are responsible for the preparation of the accounts. The charity's trustee5 consider that an audit is not required for this year under section 144{21 of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed. It Is my responsibility to: examine the accounts under section 145 of the 2011 Act; follow the procedure5 laid down in the generdl Directions wven by the Charity Commi55ion under section 14515)Ibl of the 2011 Act. and state whether particular matters have come to my attention. Basls ol Independent examSner's report My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination include5 3 review of the accounting record5 kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a "true and fair view" and the report is limited to those matters set out in the statement below. Independent examiner's statement In connection with my examination, no matter has come to my attention.. which gives me reasonable cause to believe that, in any material respecL the requirements.. to keep accounting records in accordance with section 130 of the 2011 Act; and to prepare accounts which accord with the accounting records and comply with the accounting requirements of the 2011 Art have been met. Yours sincefety. Umaf JanJua- ACCA Tyas Shaw & Co Ltd >5 Redlands 8usines5 Centre. Tapton House Road. Sheffield. SIO 58Y io Cemetery Road Baptist Church - 1132964 Analysis of income aTrd expenditure Selected period: 01 January 2024 to 31 December 2024 Total nre#tric T)•619+)ate Rfj•¢dcted Endowrnent ThIB year Last year Income and endowments Donations 8nd legacies 1001 Offerings & planned giving 1004 - Gift ald recovered IOD5- Oonalions & Appea15 1018- Grant$ 83,448 20,690 6,779 83.448 20.890 19.036 31.993 75.614 16.740 3.124 35.656 12.250 31.993 Donatlons and legaci•s Totals 110,917 44.243 155.168 131.134 Income from ch•rit4ble è¢tlvltle$ 1008 - Room hire Iobiectg ielaled 1009- Church a¢iivilies 2,040 1,048 2.040 1.048 3.480 1.519 Incomg fmm eharitable activities Totals 3,088 3.088 4.999 Othgr tradlng actlvitles IW6- Fundroi$ing Ev8nls 1007- Luneh elub & flowers 20 20 Other tradlng actlvitles Totals 20 20 Inv¢$tm•nts 1010.Rentof 11NS 1013- Income- listed Iixetl osset nve$lm8nts 1014- Income- unlisted fixed 8ssel Inwestment 1015- Other bank depos11 interest rec*ived 1016- Other Investment Income 1020- Sale of Manse 305 Cernelry Road. Shetf*l 2.450 2.450 7,864 313 348 303 1.231 1,231 5,439 Investments Tot41s 3,716 313 4.030 13,6C6 Othor Incomg 1011 Sharrow festival 1012- Room hire (not obi8CtS felatedl 1017. Mini$ter In Training Grant 1019- Refunds 1121 Insuran￿ daims 1122- rent of rnan5e 1fj.137 16,137 13,130 4.283 4.283 35.352 2,540 8,188 11.684 11,684 Other incon7e Totpls 32.1Q5 32,105 59.208 Income and andowments Grand totals 149.847 320 44,243 194.412 208,949 There may be minor dl$¢repancles in the totHls Ifthe pence are not b8ing shown li Totsl Unrgstricted D••lgniled Restrtctod Eodowm•nt Th18 yo#r Last ye4r Expenditure Expenditur• on ¢harit8ble activitiès EWI - Salanes IGrNEI EW2- Wionw InsW•n￿j IEmployerl E003. Pensthi Contnbutw)n¥ (Employerl Id c lo. E004 . WorkiNJ •xw8•5 & AfThances EQOS- siatt Iral*• qt* *wk$ E006- MIT GTanl E007. Manse Ga5 & E*¢tri¢ E008- M8nse Insurance E009- Manse upkeep & maintenance E010- Mansè Walvi Rates E011 Manse Council Tax E012 - Lease cost of second Manse E013. Visiting s￿akerS/PU1piI Supply E014 . Pre5entsiions E015- Worship E016- Fellowship Ifaining & mi$$ion E017 Church In$uranc E018- Chlirch Telephones & Internet E019- Church upkeep & m81nlenance E020- Churctt Gas & Electnc E021 Church Wai¢r Imeleredl E022 C￿￿nIng É023_ Printing. postage & slalionery E024. Equipment Expense$ E025- Other Chuich riinning e¥pens&s E026. 11NS Gas & Elèctric E027. 11NS Upkevp & MainiBnance E028. Church IniÈiior & Exterior Decorating E029- DenomiD8tional Outreach E030- Subs & giving lo support wider Mi5510 E.031 Giving 10 olhtsr ¢harilles E032 - Inter1114 lion81 Oiiireach E033 - Ind8pendent Examinar's fees E034 Other lees lo Independent Examiner E035- Costs of Oeaconslchurch ME8ling¥ E036- Junior church E037- Flowers E038- Legal Èxpense¥ 47,542 6,273 5,734 47,542 6,273 5,734 45,037 4,478 6,183 21,182 21,182 8,739 22 620 905 620 905 10.057 1.287 5.683 10,057 449 1CQ 2.589 25 5,835 1.595 449 loo 2.589 25 216 50 1.258 5.835 1.595 32.208 18.682 1.718 870 2.804 5,389 3,697 80 13,479 5.377 2.351 156.005 21.697 1.318 1.052 2,069 2.537 4,686 10.034 22,173 18.682 1.718 e70 2.804 5.389 3.517 80 180 13.479 14,157 11,140 11,140 6,793 1,480 431 420 420 267 55 267 78 21 Expendlture on charltablo activitiès fot81s 140,123 33.592 22.785 196.500 291,164 Other expenditure E039- Purchase of new man8e E039- nÉw manse purchase E040- Contribution to ac￿55 grants 1,200 Other gxpenditure fotals 1,200 Expenditure Grand totals 140,123 33.592 22,785 196.5 292.364 ere may be minor di5crepan¢i•s in the iotal$ Altho pence are not being shown 12 Cemetery Road Baptist Church - 1132964 Balance Sheet detailed A8at 3111212024 Asat 3111212023 Flxed assets FA001. NSB Income Bonds 11,000.00 11,000.00 FA002. War Stock FA003 Unlisted investments 1,597.08 41,453.73 1.561.80 FA004. Deposi¢ at YBA FA007 Land & buildings FA008. Equipment & fi'tting$ 39,973.38 2, 149,959.77 2,149.959.77 Totsl Fix•d a$s•ts 2,204,010.58 2.202.494.95 Current assets CA004' Deposit al YBA CA006.' HSBC Community A¢¢ount1810984541 CA007. HSBC Business Money Manager 1211451341 CA008. Nation81 Savings Account CA009.' Cash In h8nd (Cash) CA010.' Petty Cash CA011 Llaiclays CommunilyAccounl 1637811511 CA012' Stock 19,740.66 52,855.70 32,897.91 60.263 16 5,285 69 5.285.69 335.00 335.00 19,832 23 7,986.27 1,000.00 91.00 1,000,00 C.AOI 3.. Cash Flo81$ Luneh Club 91.00 CA014.' Lunch Club CA015. Flowgl account 624.55 624,55 CA016. Youth Work GA017 Funds held by others Z05. Accounts Receivable 493.00 493.00 2,618 15 10.802 56 Total Current as8•ts 110,283.44 112,371.68 Llabilitiej 6699.. Agency collections Z04. Accounts Payable 18,731 791 18,731.791 Total Llabllitle8 18,731.791 18,731.791 Net As89t surplus Idèflclti 2.323.025.81 2,323,598.42 13 Asat 3111212024 Asat 3111212023 Resèrves Excess I IOefi¢ill to dale Z01". Starting balan Z02.' Other gainslllossesl 12.088 241 2,323.598 42 183,415 181 2.4[￿.613.80 1.515.63 399.80 To¢al Rg$9rv88 2,323.025.81 2.323,598.47 Rep￿sent•d by Funds Unreslncled 227.468.31 216,227.94 1.884.295 61 423.074.87 Designated Re$lri¢led 1,651.023.75 444.533.75 Endowm8nt Totsl 2,323,025.81 2.323.598.42 14 ## Notes to the Accounts ## **1 Accounting policies** ## **Basis of preparation of the accounts** The financial statements have been prepared in accordance with all applicable accounting standards, as modified by the Statement of Recommended Practice for Accounting and Reporting issued by the Charity Commissioners for England & Wales, (revised June 2008). The accounts have been drawn up in accordance with the provisions of the Charities (Accounts and Reports) Regulations 2008, and include the results of the charity's operations which are described in the Trustees' Report, all of which are continuing. The charity has taken advantage of the exemption in Financial Reporting Standard No 1 from the requirement to produce a cash flow statement. The particular accounting policies adopted are set out below. ## **Accounting convention** The financial statements are prepared on a going concern basis, under the historical cost convention as modified by the revaluation of fixed asset investments. ## **Incoming Resources** Incoming resources are accounted for on a receivable basis. ## **Investment Income** Investment income is included in the income and expenditure account on a received basis. Interest received from the bank and other deposits is also included on a receipts basis. ## **Deferred Income** In accordance with the Statement of Recommended Practice for Accounting and Reporting (revised June 2008), issued by the Charity Commissioners for England & Wales, grants received in advance and specified by the donor as relating to specific accounting periods, or alternatively which are subject to conditions which are still to be met, and which are outside the control of the charity, or where it is uncertain whether the conditions can or will be met, are deferred on an accruals basis to the period to which they relate. Such deferrals are shown in the notes to the accounts and the sums involved are shown as creditors in the accounts. ## **Recognition of liabilities** Liabilities are recognised on the accruals basis in accordance with normal accounting principles, modified where necessary in accordance with the guidance given in the Statement of Recommended Practice for Accounting and Reporting (revised June 2008), issued by the Charity Commissioners for England & Wales. ## **Resources Expended** 15 The policy for including items within the relevant activity categories of resources expended is as follows: ## **Costs of generating funds** The costs of generating funds are inherent in operating as a church and are not considered capable of being separately identified. ## **Charitable activities** Charitable expenditure includes all expenditure directly and indirectly related to the objects of the charity. ## **Governance costs** Governance costs include all expenditure directly related to compliance with charitable and statutory requirements. ## **Unrealised and realised gains** Unrealised gains and losses are computed by reference to the market value of the investments at the balance sheet date, compared to the brought forward cost or valuation, with gains and losses arising on similar categories of investments being netted off. ## **Stocks** Stocks are valued at the lower of cost and net realisable value. ## **Investments held by the charity** The policy for including investments in the accounts is as follows: Listed investments have been included in the balance sheet at their mid-market value at the year end. Unlisted investments comprise holdings in unit funds, these have been included in the balance sheet at the redemption values prevailing at the year end. ## **Fixed assets and depreciation** All tangible fixed assets, except freehold land and buildings, are stated at cost less depreciation. Freehold land and buildings were included at their estimated fair value in 2003. In the opinion of the Deacons their estimated residual values will not be materially different from their book values, hence depreciation has not been charged. Immaterial items of less than £500 are not capitalised. Depreciation has been provided at the following rates in order to write off the assets (less their estimated residual value ) over their estimated useful economic lives. Fittings and equipment - 15% reducing balance 16 A regular review of the likelihood of asset impairment is undertaken. ## **Capital grants** The managing trustees consider that, in order to comply with the Statement of Recommended Practice for Accounting and Reporting issued by the Charity Commissioners for England & Wales (revised June 2008), gifts of tangible fixed assets or grants of a capital nature given for specific purposes and fully utilised in the furtherance of the objects of the charity should be credited to the relevant fixed asset fund after the sums have been properly expended on the restricted purpose. The related asset is shown in the balance sheet at the full cost of acquisition or subsequent revaluation. ## **Taxation** As a registered charity, the organisation is exempt from income and corporation tax to the extent that its income and gains are applicable to charitable purposes only. Value Added Tax is not recoverable by the charity, and is therefore included in the relevant costs in the Statement of Financial Activities. ## **Finance and operating leases** Rentals payable in respect of operating leases where substantially all the benefits and risks of ownership remain with the lessor are charged to the Statement of Financial Activities as incurred. ## **Funds structure policy** The charity maintains a general unrestricted fund which represents funds which are expendable at the discretion of the trustees in furtherance of the objects of the charity. Such funds may be held in order to finance both working capital and capital investment. Restricted funds have been provided to the charity for particular purposes, and it is the policy of the managing trustees to carefully monitor the application of those funds in accordance with the restrictions placed upon them. A Designated Fixed Asset fund is maintained which represents the written down value of tangible fixed assets. There is no formal policy of transfer between funds or on the allocation of funds to designated funds, other than that described above. Any other proposed transfer between funds would be considered on the particular circumstances. ## **Accounting for Legacies** Legacies are accounted for when in the opinion of the Deacons such receipts are reasonably certain and can be readily quantified. 17 ## **Recognition of pension costs and pension assets and liabilities** The church contributes to the Baptist Ministers' Pension Scheme, a final salary (ie defined benefit) scheme, which at its last actuarial valuation was underfunded as at 31 December 2007. To try to rectify this, contributions were increased by a third from 1 January 2009, but despite this the situation of the fund was not improving as much as it needed to do, and during 2011 the Baptist Union decided, reluctantly, that it would need to close the scheme and replace it by a new defined contribution scheme. The old scheme was therefore frozen with effect from 31 December 2011, with the liabilities to members that had already been accumulated in it being preserved. The new scheme came into operation on 1 January 2012, and so members and churches are now contributing to this new scheme, and also continuing to contribute to the old scheme in order to reduce its shortfall of assets compared with liabilities. ## **2 Winding up or dissolution of the charity** If upon winding up or dissolution of the charity there remain any assets, after the satisfaction of all debts and liabilities, the assets represented by the accumulated fund shall be transferred to some other charitable body or bodies having similar objects to the charity………. 18