REGISTERED CHARITY NUMBER: 1132966 ort of the Tru5t¢w and Un&udlted Financial Statements ar Ended 31 December 2023 for Tunbrid e Well8 Ba tist Church Tunbrid t Wells Ba st Church CollteDts of the Financial Statements for the Year Ended 31 December 2023 P•ge Reference and AdrniDistrative Detai18 Report of the Trustees Independent Examiner's Report Stltsment of Flnancial A¢tiviti St*tement of FiD¥4neial Position Notes to the FinaD¢lal St*tements 12 to 19 TuDbrid Wells Ba tist Church Reference alld AdtThinistrativ D¢t8 TRUSTEES R¢v D Thresbie Rcv R Hayward Rev R Street B ODriscoll B Akioye D Threshie JLE S Chakkumkel T Khristi J Pa)me W Dodd PRINCIPAL ADDRESS 12 Upper Gr05venorRoad Tunbridge Wdls Kent TNI 2EP REGISTERED CHARrrY NUMBER 1132966 Tullbrid Wells Ba t Church R¢ rt of the Trustees for the Year Ended 31 December 2023 The trnstees preseni iheir Teport with the f]nancial statements of the charity for the year ended 31 December 2023. The trnstees have adopted the provisions of Accounting and Rq)orting by Charities: Statement of Recommended Practice applicable to clwities preparing ih¢ir ac¢ounts in accordance with thc Financial R¢wrting Stsndard applicable in the UK and Republic of Ireland IFRS 102) (¢ffectivc l January 2019). OBJECTIVES AM) ACTivrriES Principal objettlves Tunbridge Wells Baptist Church is established for the purposes of the advancement of religion and proclamation of th¢ Christian gospel. Aetivities The charity operates from premises Upper Grosvenor Road. Tunbridge Wells and undcrtakes a wide variety of activities in the furtherance of its objects. These include the proNrysion and upkeep of the place of worship, the carying on of scrviccs, running yout14 children alld families work, tlie training of ministers and the funding of outreach work both in the UK and overseas. MISSIO￿ Vision & V￿lleS We continue to learn from and supw)rt. through prdyer, encouragement. and in some Cases financially? our vaTiOUS rfLission partners. Ix)th l(Kally in Tunbridge Wells, nationally and internationally. These include, but not exhaustively: Youth for Christ, Baptist Towher, BMS World Mission, People Intcrnational and Simon Fuller in Sri Lanka. The vision of the Church is to be part of God's transfomiing work in our comtnunity, express￿ Ihrough.. Worship - KrLowing and loving Jesus Dis¢ipleship- BccottLing like Jesus Fellowship - tkveloping quality friendships Ministry- Playing our part" and Mission - Caring and sharing J￿u5 Vhere community applies to ourselves, OUT friends, our town and our world. Our core values are summed up as: Reliable- the Centrality of Jcsus Cbrist and authorily of thc Bible Rebirth- conversion from self to God Renewal - Daily encountering the Lord through Word & Spirit Relationa] - Caring. compassionat¢ and generous to one anoih¢r Reaching Out - concern for others; and Relevant - addressing issucs thai matter Tunbrid Well8 BA tlst Chvreh Re rt of the Trustees for tbe Year Ended 31 Deeember 2023 Higblights of the past year The Sunday Mornlng Service During the year we have used resources from L4mdon Institutes of ContCmForary ChLlStianity for L¢nt On Purpose and this terni the Bible So¢iety Romans CourK ly)th having small Group resouwes with the latter having well-woduc¢d Video partially fi]med in Rome. Thank you to all wlko facAlitat¢ Sundays being such a special morning as we come together to worship th¢ Lord. From the worship team. sound and Visio￿ servi¢e leadeTS. speakaE," welcoming and hospitality team and all those unsung heroes in the children and youth. Communities Cbildren And F4JDilies Over the last y¢ar Ll has been very exciting to continue ¢0 s¢e new familics join us. Some have moved into the area. some from other churches. and some. more significantly, have come through Bikes and Slid¢s and the Lorder. If a]1 our children and young people attended church at the same time, w¢ would have 501 Whal a privilege. honour, and challenge! Dividing the children into two wups {including creche ag¢) due to the number of children. has worked well ind thanks to our dedicated teams, the children enjoy a full progrdmme each week. We give the children the opportunity to listen to Jesus and allow Him to communicate with us whether it's through words, piclures, obj¢cts or Bible verses. We a￿ prnying that thc cmbers of their faith will be fanned into flaJn¢s ill thc PQWCT of thc Spiril. We hav¢ become increasingly mindful that we have a high proportion of neurodivergent children and young people in our church family. With the help of. and in discussion with, some of our parents we have implemented a 'Sensory Space. in the Sanctuary for those who find the first part of the ￿¢¢ a ¢1￿1¢nge due to the noise and largc number of people ill onc space. The tenl provides a safe Space for thc children to go if needed. Please do b¢ mindftd of our fom)ilies and pray for them wh¢r¢ this call add extra Challenges for them both ai home and when in other contexts such as church. The children's team are working hard to get alongside all of our children and the challenges that they face, and are ensuring all feel welcomed, involved and safe. In ternis of midweek actiNrytics, Bikes and Slidcs, OUT toddler group, conttnucs to thrive. There is a real sense of ¢oJ))munity on both a Tuesday and a Friday* though these communities are very different from each other owing to the guests we have. Ther¢ is a long waiting list for both days, so it is a popular group and a favourit¢ among many who come along. We seek to serve the Mums, Dads. Car¢rs and Grandparents with the love of Jesus, through what we say and do, including toddler-friendly God-songs which they all enjoy. W¢ use the Christian festivals of Christmas, Easter. and other times in between to also share the message of Jesus. TuDbrid Wells Ba tist Church ort of the Trustee5 or the Year Endtd 31 Decem Courses We haven't held spccific courses for the pa￿ntS this year, but many of our Mums have joined with to forni a small group and have been part of the different courses we have participated in over the past year, including the Lent course. Youth The young people mcct on Sunday mornings as either EPIC (agcs 10-14) or Flare (ages 15-18). On Community Sundays most of them serve in the church in the mornings and are invitcd to join the youth gathering that takes place in the afternoon at 4:30 pm. We ¢ontinue to build on our good relationship with Tunbridge Wells Youth for Christ who are doing an invaluable work across the tomm bringing tog¢th¢r different Church youth groups under the banner of 'Unite' and hosting various differnlt events. Ji is a great opportUDity for the youth lo bc part of a townwide Christian community that crosses denominational boundaries. B¢ginning thi5 month YFC have also started a monthly Unite gath¢rAng on a Friday night at thc Christian Fcllowship that involves games, pizza, worship and teaching. We are extremely grateful to YFC for their ¢n￿la1 role working across the town. In addition lo facilitating evcnts, YFC kindly Contin￿ to let us as a youth group usc their drop-in centre on Grosvenor Road on a Friday afternoon as a place to haDg out after school. Senlors CAMEO meets biweekly on a Wednesday Off￿]llg fricnd5hip and inl¢r¢sting talwactivity followed by soup and homemade dessert. There are about 20 ¥ucsts. A Tradilional Service is held once a month supportd by and the￿ are three small groups. Communlty ￿rder Thank you to the Church for its ongoing generosity in supporting the Community Larder. We currently have a teanl of 29. which inclu(ks 2 who ¢oll¢th from Asda. On averng¢ we are feediDg approximately 150 people a week and wc continue to welcom¢ new guests cach week. The Pop-up Café continucs to be a great blessing and we have opportunities to listen and sometimes pray for our guests. We wotk coltaboralively with five other larders in Tunbridge Wells (four Anglican and one a village entaprise). We hav¢ b¢¢n greatly blessed by sevcral donations and, above a]1, the larder could not fLmCtion without such gcn¢rous support,. for this we thank you. Proverbs 11 v 26 "The one who bl¢ss¢s oihers is obundanily blessed. Tunbrid Wells Ba tlst Chur¢h rt of the Trustees Knit and Stitch This Ihriving communily has pr(xluccd some wondethl knitted, sewn and cro¢het¢d items where they come with different skills and abilities and have a great time together. Apart from this monthly titne together a Small number meet al the Kitchen Table Café and a Wh4tsApp group- prny together. Come and Meeple Those participating in thc FK>ard games have thoroughly enjoyed them. ReceThtly both the key Leaders are no longer able to be Present monthly on a Saturday morning. 80 the community is rem, and a few less regularly. Most complement their Bible Studies with prayer and catching up with th¢ir respective WhatsApp group. 5 are generalist groups" 7 are r¢lat¢d to their respective communities with their spccific mission. All these groups are vitsl places for those in the church family to belong, grow with others in their faith and mutually enjoy and support one another. Increasingly they are not led by one person but more collaboratively and taking it in turns to lead. These small gyroups are vital for the healthy life of the church family. and we atr so thankful for the many who make them happen in such a wonderful way. Pastoral Cire We have 10 Chuwh members in residential care homes. and several Church members who live on their own or with their spous¢s who are no longer able to come lo Church at thi5 time. Thank you so mucb to so many of thc Church family* who reach out to them, offering practical help, phoning, writing and visiting them. Thank you. Looking aherf it has been a wonderful answ￿ to prayer that those whom we have visited over the years will continue to be visited by memb¢rs of TWBC. Thank you. Tunbrid Well5 Ba tist Chureh Re rt of the Trustees for the Year Ended 31 December 2023 Mlsslon Partners It has been a joy to s¢e our ongoing relationship flourishing with Youth for Christ and its activities and our young people from the Unite cross church events to tbe Noise over Easter, as well as their drop-in Centre on Grosvenor Road after school on a Friday for the youth groups (Flare and Epic), as our young people engage with their Unilc scrviccs. W¢ arc thankful to South East Baptist Asso¢ialion for their support and cncouragement. It is so good to see that People tnternational are belatedly joininby other tkniving World Mission OTganisations in transitioning from exclusively a Western sending agency to intcrnationalisillg thcir orgaDisation wilh a Significant number of personnel, in their ￿se coming from Central Asia and South America. ThaDks and support This last academic year has b¢¢n. by thc grace of God, a truly fruit￿1 one, growing numerically witb more children and families, internatiollally alld those joining us from our various communities from Community Larder to Bikes and Slides as well as Alpha held in the Autumn tern). We are Iruly a multi-generational hurch. It is with this confidence and dependence on the LDrd that we arc moving fonvard. We are trnly grateful foT having a good leadership te￿Th, where this transttion is headed up by Mork Dodd the church s¢cretary collaboraling with Bayo Akioye the Chair of Elders, Trupti Khristi Human Resources, and all the leadership team. Further with regard to practical matters at the church centre, we arc thankful that we have an excellent Church Centre AdmiDiStrator. Rini Tandel, who ensures the Centre is well run with its bwkings. ¢l¢anin legal responsibilities as well as administering ihe weekly email and notices on a Sunday. We are gratefvl for the maintenance that Paul Russell and Vince Cox do or orgall1￿ professionals to come in and do. FINANCIAL REVIEW It is the objeclive of the trustees to operate within a balanced annual budget al￿ achieve a position close to br¢akeven cach ycar on thc General Fund. For the year ended 31 December 2023 the Unrestricted General Fund showed a sU￿lUS of £1,777 representing au improvemeni on the small deficit of £2.265 in Ihe previou5 year. Thc trust¢¢s a￿ truly thankful to the church family for continuing to be ihe primary alld abnost sole provider of the finance for th¢ hurch. Income in th¢ General Fund of £210,393 compared to £194.025 in 2022 while expellses of £208,562 increased from £196,290 Income for the restricted funds amount￿ to £54,IM)7 and cxpcuditure d amounted to £45.550. The sutplus on thc r¢stricted funds for tb¢ year amounted to £8,511. The balanc¢s on the general and restricted fimds at the year ends were £97,928 and £2.695,034 respectively. Total bank and cash balances at the year end amounted to £73,783 . Nornial operating cxpcnditure during the year remained within budget. The tTUStees will continue to monitor the finances closely through careful budgeting to ensure that the ministries and activities we undertake can ¢ontinu¢ to develop. TuDbrid Wells Ba tl8t Church rt of the Trustees rEu STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated clwity. Charity constitution Until July 2009 the Church opetated under its original ¢onstLtution which was adopted i)n 17 August 1883 and varied under the declaration of dated 22 November 1988. At a Special Church Meeting on 15 July 2009 a new constitution was adopted based on the Baptist Union of Great Britain's approved governing document. Th¢ new constitution r¢plac¢d th¢ previous Church Rules. Old ConstihLtion and all items in the Trust Deed not relating to church property. The Chur¢h was registered as a charity on 25 November 2(K)9, number 1132966. OrganisationAI Structhre & Deelslon Maklng The managing trustees are elected by the Church members, meeting and shall serve for three years so long as they have the support of that meeting and are then eligible for re*le¢tion. Those in ministerial office are managing trustees by virtue of their office. Upon ap￿intment new trustees are given guidance as to their r¢sponsAbAiities. The leadership team of pastors, elders and deacons fvnctions as one tsam with three dislinct roles. Thc cldcTS are primarily responsible for the spiritual direction and prayer life of the Church togethcr with the spiritual welllKing and pastoral Ca￿ of the members. The deawns are resw)nsible for the administration. finances. premises, staff and legal rquiremenls of the Churcli. The pastors are jointly responsible as a team for the development of ministn.es in the ChuTch" they also ov¢rs¢c the prograrnme of Sunday and mid-week services and the spiritual development of the Church family. The managing tnths meet regularly to discuss all aspects of the running of the Church. The full team of Inistees and the elders meet monthly and the deacons nomally meet ten titnes a year. Decisions affectin¥ the operation of the Church are made at these meetings subject to the approval of the ]nembership in thc Church Meeting. Approved by order of the board of ttustees on 16 March 2026 and sigJ)ed on its behalf by: Rev D H*)TrVArd- Trwtee ndellt Examiner's Re rt to the TruJtee5 of Tullbrid e Well$ Ba tist Cbur¢h Independent exarniner's report to the trustees of Tunbridge Wells Baptisi Churcb I rq)ort io the clwiry tn￿tee$ on my exajnination of the accounts of Tunbridge Wells Baptist Church (the Trust) for the year ended 31 December 202J. Responslbiiitfie8 and basls of report As the charity trustees of the Trust you aTe T¢sponsible for the preparatioD of tbe accounts in accordance with the requirements of the Charities Act 2011 Ilhe Acv). I rep)rt in respeci of my examination of the TNst'$ accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Diwli￿ given by th¢ Charity commi￿1¢)￿ under Se¢tion 14515)(b) of the Act. Independent examiner's Statement Since your charity's gross income exceeded £250.IK)O your examiner must be a member of a li￿ted body. I ¢an conf]mTr that l qualified to utldcrtake the &umiDatioD because I a me￿ber of the Ill9tiDJte of Charttta AcC<￿￿tants. iti England alld Wales. which is one of the lisied knjies. I have completed my examination. I confirni that no material matters have come to my atiention in com]ection with the examination giving me cause w believe that in any material resp￿1.. accounting records were not kept in respect of the Trnst as required by Section 130 of the Act. or the wcounts do llot ￿Cord with those r¢¢ords,' or the accounts do not cornply with the applicable r¢quiremenls conGcrniD8 th¢ forn] and contellt of accounts Set out the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give true and fair view wbicb is not a rnatter considered as part of an independent examination. I have no concerns and have come across no other matters in connection with the cxaminaiion to which attcntion should be drawn in this report in ordcr to ¢nabl¢ a propcr undwtsnding of the accounts to be reached. Tllnbrid e Wells Ba tl8t Ch￿reh Statement of Fin8nei#l ActiiTrties for the Year Ended 31 December 2023 2023 Total fund% 2022 Totsl Unr¢stri¢t¢d fimd Restricted Notes INCOME AND ENDOWMEL¥TS FROM Donauons and legacies 204.786 53,940 263,528 256,113 Other income Hall and room lettings 4,802 4,802 5.788 Inve8tmeAIt income 805 67 872 512 Total 210.393 54.007 264,400 262413 EXPENDITURE ON Charitable activiiie8 163.973 34.776 198,749 219,254 Supikn & governallc¢ costs 208,616 45,496 254,112 243.118 Net gains on investments 30,161 NET INCOMEI(EXPEL¥DrruRE) 1.777 8,511 10,288 49,456 RECONCILIATION OF FUNDS Total funds brought forward 94,928 2,695,034 2,789,962 2,740,506 TOTAL FUNDS CARRIED FORWARD 2.703 545 2 800 250 2 789 962 The notss forni part of th¢s¢ fman¢ial statements Tullbrid e Well6 Ba tist Churth Statement of Finanelal Positlon 31 Deeember 2023 2023 Total funds 2022 Totsl funds Restricted funds fund Not¢s FIXED ASSETS Tangible assets 25,015 2,832.886 2,857,901 2,870,409 CURRENT ASSETS Debto]¥.' amounts falling due withui one ye4r Cash at bank alld in hand 14.635 78,322 3.502 18,137 9,427 75242 92,957 10,469 103,426 84,669 CREDITORS Amounts falling due within one year (21.26D (17,376) (39,643) (25,290) NET CURRENT ASSETS 6.907 TOTAL ASSETS LESS CURRENT LIABALITIKS 96,705 2.825,979 2,922,684 2.929,788 CREDITORS AmoLfftts falling due after more than on¢ year {122,434) (122,434) (139,826) NET ASSETS 96.705 2,703,545 2,800,250 2,789,962 FUNDS Unrestricted funds.. Generdl fund Restricted fut)ds". Restricted Fund li 96,705 94,928 2,703,545 2,695.034 TOTAL FUNDS 2 800 250 2 789 962 The financial statements w¢r¢ approved by the Board of Tnjstecs and authoTis¢d for i8Aue on 16 March 2026 and were siglled on its behalf by.. P Clark- Trnstee D Hayword- Trustee The notes fom) part of these flnancial statemenL8 Tunbrid e W¢JJ$ B* dst Chur¢h Notes to the Flnanclal St¥tements for Ihe Year Ended 31 December 2023 ACCOUNTING POLICIES Basis ofpreparlllg ebe t]nanclal statements The f]nallcial sthtements. of the ¢harity, which is 4 publjc bellefit entity under FRS 102, have been pr¢par¢d in accordance with the Charitits SORTr (FRS 102) 'Accounting and Reporting by Charities." Statement of Reeon)mended Practice applicable to chariiies preparing their accounts ID accordance with the Financia Reporting Stsndard applicable in th¢ UK and Rq>ublic of Irelaud (FRS 1021 (eff￿1]ve l January 2019),, Financial Reporting Statldard 102 The Financial Rewrting Sthndard applicable in the UK and Rcpublir of Ireland, and th¢ Charities Art 2011. The fllthncial statements havc bccn prq)ared under the historical cost conventi¢)n. The accounts include all transactions, assets and liabilities for which the Irnstees can be held r¢spoDsible. They do not include the accounts of Church groups that owe their main affiliation lo another kndy nor th0￿ that ar¢ infonnal gatherings of Churth members. Th¢ Church constilut¢8 a public benefit entity as der￿ed by FRS 102. The trustee5 consider that there are no material un¢ertaiDti¢s alK)ui tbe Church's ability lo continue as a going concern. Ineome All income is recognised once the Chur¢b has entitlement to the income, there is sufficient c¢rtainty of receipt and $0 it is probable that the income will be receivc4 and the arnount of in¢¢)me re¢eivabl¢ Can be ￿￿ured reliably. Collections are r￿ognISed when received by or on behalf of the Church. Other donalions are recognised when they have been communicated or received ill writing with notification of both the amount and settlement dat¢. Income t&x recoverable on Gift Aid donations is rttognised when the incorne is recognis¢d. Le8aoi&% are reCI)gni￿ on a case by case basis followitJ2 the granting of probate when tk administrator or cxeculor of the estate h&$ communicated in writing both the legal entitlemenl and the amount due. Rent81 incorn¢ from the letting of Church premises is accounted for when due. Interest is accounted for when receivable. Other income is accounted for when due. Experkditure Liabiliti&8 are Tecognised &$ expenditlwe as soon as there is a legal or ¢onstrnctive obligation committÈng the Church to that expenditure, it is probable that settlement will be required and the amount of th¢ obligation ¢an be measured reliably. All expenditure is accounted for on an accruals basL8. All expenses. including supp(>rt costs and governan¢¢ costs. are allocat￿ or apwrtl(￿ed to the appli¢abl¢ expenditure headingg in the statement of financial a¢tivitie& Grants and doThations payabl¢ ar¢ paym¢nrs nwl¢ to third parti¢5 for the furtherance of the ¢h8Yitable objectives of the chu￿￿. In the case Of aD unconditional grant offer, this is accrued ollce approved. Grant awards that are subject io the recipieni fuifRlling performance collditioJL8 are only a¢crued for when the r￿lPlent has beeo notified of the grant and ally remaining unfu]fthed ¢onditions attaching to that 8rnnt ar¢ outside (Trf the Cl￿trol of the trustees. Covern¥D¢¢ ¢O$ts Governance costs comprise all ¢osts involving the public accoulltability of th¢ Inkst¢¢s and their compliance with regulation aTLd good pwtice. These ¢os¢s include costs related to the independent exan)ination. The allocation of 8ovemance costs is sbown sn not¢ 3. Twibrid e Wells B tist Church Trlotes to the Flnallcial Statements- continued for the Year EDded 31 December 2023 ACCOUNTtYG POLICIES - COlltlDued TADgible assets The freehold pr¢mises are incjuikd at valuations approved by the TTU$tees at 31 Dec¢rnber 2010. As the mark value exceeds the carrying value depreciation charge has been providfyl as the estirnated residual values are not less than the ¢orrying amount of the a&8ets. Fixtures and equipment are depreciated on a straight line basis over their estimated useful lives * raies beNL 12.510 and 25fj/0 per annum. The trusteas consider the condition of the assets ai the year end and make any necessary adjustments for impairment. If an a&set is felt to b¢ tmpaired the caryll￿ value is written down to the recoverable amounl: being the higher of the net realisable value and the value in use. Expenditt￿e on the r¢fvrbiAlunent of the Sancttw other than for equipm¢ut and furnitsJre has been ch￿ged the Sthtement of Financial Activities in the year in which it is incuTh¢d. Assets with a value of less than £500 are not capitalised. Taxatio The charity is exempt from on its charitable activiti￿. Unrestricted funds. Can be used in accordance with the ¢lwitable ObJ￿tIveS at the discretion of th¢ truste&q. Restricted fimds" Can only be used for particular r¢strA¢ted purp)ses within the obj¢cLs of the charity. R¢5tri¢tions arkse when specified by the donor or when fiLJknJs' are raised for partiCLthrc5trictcd PLWPOX8. Further explanation of the nature and pwpo8¢ of each is included in the notas to the flnancial statements. Foreigll ¢urrellcles Assets alld liabilities in foreign curren¢i¢s are translated into sterling ai th¢ rates of exchange ruling at the s¢at¢ment of f]nancial position date. Transa¢tions in foreign currencies arc translated into sterling at the ratr of exchange tuling at the dat¢ of transaction. ExchatL8e differ¢n¢es are taken into account in arriving at the operating result. Penslon eosts and other post-retirement belleflts The charity operates a defined contribution pension scheme. Contributions payable to the Chari￿$ penyiiln scheme are Charged to the Statement of Financial Activities in the p¢riod to which they relate. The Cost of pension contributlons 10 the BAPtLqt Union Pension Scheme and the National employ￿ettt Savings TnLSt (NEST) are included Mrythin eharitable ac¢ivity cost8 and are accounted for on the b&8is of contributioJ]s payable in the year. The irtk%tees have no liability beyond making contributions and paying across d￿uCtiOnS for the employ¢¢s' wntributii>ns. The tsustees have been notified of a deficit on the Baptist Union P¢nsion Scheme which is a multi-ejnployer defined benefit scheme. In accordallce with FRS 102, PTOViSiOll has been made for the chU￿h,$ ¥hare of the actuaTial losses a￿rued. Payments in respect of other post-retirement benefits ar¢ ¢harged ￿ the Statement of Financial Activities so a5 tt> spread the cost over the setvi¢e lives of ¢rnployees to whi¢b the benefjts r¢lat¢. Realised galns & lo$s¢s All gains and los¥es ar¢ tskm lo the stsiemeni of fmancial a¢tivities as they arise. Uttrealised gains and Ioss¢s are calculated as the diff¢r¢llce between fair value at the y¢ar end and their carrying value. Rcaliscd gains and lo&ses are recognised wh¢n a&sets are di5POsed of. The c]Jarity has elected to apply the provisioÈLS of section I I 'Basic Financi￿ Insttiunents, and section 12 '0ther Financial InsIn￿ents Issues, of FRS102 to all tts fit]ancial instnJm¢nts. continued... Tllobrid e Wells Ba dst ch￿r(b Notes to the Fillaneial Statemettts- ¢ontiBlled l De£em r20 ACCOUNTING POLICIES- contillued Fknaneial illstruments Financial instruments are recognised at fair value in the Statement of Ftnancial Position when th¢ charity becomes party to the contractual provisions of ihe instrumeni. Financial assets and liabilities are off set with the amounts presented net in the financial $tst¢ments wh¢n there is a kgally enforceable right to set off the recogtLiSed amounts and there is an int¢ntion to settle on a net basis or to readies th¢ asset and s¢ttl¢ th¢ liability $irnultaneous1y. Basic fJnan¢ial assets wbich include debtors and cash and bank balances are initially measured at transaction price including transaction costs and a￿ subsequently ¢arri¢d at amortised cost using the effective int¢rest method where the transaction is measured at the present value of the future receipts dis¢ounted at a market rate of inte￿St. Financial assets are classified a8 receivable within one year are not anwrtised. Basic financial liabilities including creditors and bank loans are initially recognised at traDsacti(*n price where the debi instrnmeni is measured ai the present value of the future payrnents discounted at the Market rate of interest. Financial liabilities Classified as payable within one year are i￿[ amortised. Debi instrltments are subsequently carried at ammonitts costs using the effective instrument rneth￿. Trade creditors are obligation8 lo pay for goods or seryi¢&% that have been acquired in the ordinary COUTse of operations from suppliers. Amountq payable are classified as current liabilities if payment is due within one year or less. If payment is due after one year they aTe pre￿nted &8 non current liabilities. Ttade creditors ar¢ recogttised initially at transaction price and subsequently measurtd at ammonites cost using the effectsve interest methiNJ. Financial liabilities are de-recognised when the chariiies contractual obligations expire or are dI￿harged or cancelled. INVESTMENT INCOME 2023 Total fjjnds 2022 Total fi￿dS Unrestricted fi￿dS Reqtricted funds Dwsit a¢¢ount interest 805 67 872 512 In the year ended 31 December 2022 £19 trlatpj to r¢strict¢d funds alld £493 unrestrirted. continued... Tunbrid e Wells Ba tist Chur¢h Notes to the Finallcial Sl#tements- eontinmed r 2023 EXPENDITURE- CHARITABLE ACTIVITIES 2023 Total funds 2(122 Total funds Unrestricted funds Restri¢t¢d nds Wages aDd national insurAnce Pension contributions Church repai￿ and maintenance Cleaning and waste Church lighL heat & water Mange upkeep Insurance Grants and donatiolls Community larder Church service Costs Ministers, expenses Office and IT expenses Subscriptions Other ¢xpellses 80,337 16,647 9,964 3,298 16,382 8,527 6,399 80,337 16.647 9.964 3298 16,382 8,527 6,399 27,588 7,188 5,438 3,482 3,804 2,805 6,890 102.703 9,479 1,543 17,106 9,429 I4,(￿8 5,350 34,883 4,721 4,945 2,301 5,229 2,644 4.313 27,588 7,188 5.438 3,482 3,804 2,805 6,890 Total 163,973 34,776 198.749 219,254 During the year end¢d 31 December 2022 £39.604 of expenditure related kn restrieted and £179,650 was Unrestricted. SUPPORT COSTS 21123 Totsl funds 2022 Total Unrestrict¢d funds Restrfftc*d fimds Baptist Union loall interest Staff ¢08ts D¢preciation A¢coLmtancy BaDk ¢harges Total 10.665 10,665 26,400 12,508 5,640 150 7,243 26,400 12,508 5,640 95 12,508 3,950 163 23,804 55 10,720 During the year ended 31 De¢ember 2022 £7.243 relatrd to r¢stri¢t¢d fimd5 and £16,621 was unrestricted. TRUSTEES, REMUNERATION AND BENEFITS One trustee who is a150 an en)ployee was provided with accommodation which is wholly own¢d by the Chureh uThder the tstTrs of his employnenL One of the other trnstees provides administrative seryices for an hourly fee and another tsustee is employed on a part lim¢ basis os a P&storal Assistant. Three tNstees who are employees, as ministers of the Church, received remuneration during the totalling £84,762 {2022.. three tmstees- £84.762) and expenw of £3,482 {2022'. £7.329) were reimbursed to them. The church has a ts￿lee5, indenmity insurance wlicy ond the prejniujn of £252 {2022.. £252) has ¢harged in these fthallc￿I ststements. The tsustets. were reimburs¢d expense8 of £1,364 durillg the year12022.. £1,364). continued... Tunbrid e We]15 Ba ti&t Church Note5 to the FiuaD¢ial St4temeDts- ¢ontinued r Ended l Decemb r 2 STAFF COSTS 2023 2022 Wage6 and Salaries S¢xial Security costs O¢h¢r p¢nsion wsts 105,014 1,723 100,570 2,133 123 384 112 182 No employee received remuneration in exce&s of £60.000 {2022'. None). From January 2012. pensiort provision is being made through the Defmed Contribution (DC) Plan within the Scheme. In generdl, members pay 80/0 of their Pensionable Income and employers pay 60/0 of members, Pensionable Income into individual pension accounts, which are operated and rnanaged on behalf of the Penslon Trustee by Legal alld Gelleral Life A5sufdllce Society Limited. In additioll, th¢ employer pays a furth¢r 4/(* of P¢nsiollabl¢ In¢om¢ to ¢ov¢r D¢ath in S¢rvi¢¢ Bell¢fits, admiDislration Costs and an asscKiated insurdn¢e policy which provides inc(*m¢ prote¢tion for Scheme tn¢mb¢rs in the event thai they unable io work due to long- t¢rm in¢apacity. This in¢om¢ prolxtion poli¢y has b¢¢n insured by the Baptist Union of Greai Britain with Aviya plc. The furth¢r4Yfy coThtribution rat¢ is red￿ed to 3 /Tr f(Trr Employer conthl)utions made to the Segregated DC Atran¥cmcnt. Benefits in respect of service prior to l January 2012 are provided througb the DefJThed B¢n¢fit {DB) Plan withi the Sch¢m¢. The main benefits for pre-2012 service were a defmed benefit pension of gn¢ ¢igbii¢th of Final Minimum Pensionable Income for each year of Pensionable Service, togeth¢r with a¢Jditional p¢n$ion in r¢spe¢t of premiums paid on Pensionable Incorne in ex¢¢ss of Minimum Pensionable Income. The Scheme, previously known as the Baptist Ministers, Pension Fund, sthrted in 1925, but w&8 ¢los¢d to future of defmed benefits ¢)n 31 D￿ember 2011. The average monthly numberof employees during the year follows: 2022 2021 Administration & management coniinued.. Tuubrid e Wells Ba tist Chur¢h Notes to tbe Finaneial Stalemellls- CORtinued for the Yt*r Ended 31 Dttember 2023 COMPARATIVES FOR THE STATEMENT OF FINAf4CIAL ACTIvrriES UnrestTieted Restrided fi￿d Tofal fimd9 INCOME AI¥D ENDOWMENTS FROM Donations and l¢gaci¢s 187.744 68.369 256,113 Other inrfjme Hall hire and Toom lettings 5,788 5,788 Invcslment income 493 19 512 Totsl 194.025 68,388 202,413 EXPENDITURE OI¥ Charitable activitie5 Support & governance costs 196,290 46,828 243 118 Net gains on investments NET INCOMEIIEXPENDITURE) 27,896 21,560 49,456 RECOF4CILIATION OF FEENDS Total fu￿ brought forward 67,032 2,673,474 2,740,506 TOTAL FUTr4DS CARRIED FORWARD 94,928 2 695,034 2,789,962 TANGIBLE FIXED ASSETS Fixtures Freehold propety fitting8 Totals COST At l January 2023 Additi(ms 2.832,886 120.208 2.953.094 At 31 December 2023 2.832 886 120,208 2.953,094 DEPRECIATION At l January 2023 Charge for year 82,685 82,685 12,508 At 31 December 2023 NET BOOK VALUE At J l December 2023 2,832,f186 25,015 2,857,901 Ai 31 December 2022 2.832,886 37,523 2,870,409 ¢ontinued... Tunbrid e We115 Ba tist Church Not¢s to th¢ FiDallcial Statement5- CODtinu TANGIBLE FIXED ASSETS- ¢ODlillu¢d The freehold properties were brought into the a¢count$ at market value at 31 December 1997 and were valued at £2.832,886 at 31 December 2010. The Tn￿t¢¢S consid¢r thcir matl(et value to be significantly highcr than thc catYyit)g value at the year-end. For this re&son the properties have not been depreciated during the year. DEBTORS: AMOUNTS FALLING DUE WITHIN OT4E YEAR 2023 2022 Other debtors & prepayments Gift aid receivable 195 17,942 808 8.619 CREDrroRS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2023 2022 BaDk loans and overdrafts {see note 12) Credilor5 for gotmls & s¢rvi¢es Social sccurity and other laxG8 Accruals and deferred incom¢ 17,376 10.893 1,598 15,456 9,834 25,290 ii. CREDITORS: AMOUNTS FALLINC DUE AFfER MORE THAN ONE YEAR 2023 2022 Bank loans (see note 12) 122 434 139 826 139.826 12. LOANS An analysis of thc maturity of loans is given below: 2023 2022 Amounts falling due within one year OD demand: Bank loans 17.376 Amounts falling due b¢tw¢¢A two and five yeaL8.' Bank loans- 2-5 y¢ars 122 434 139826 continued... Tunbrid e Wells Ba tist Church F4otes to the FinancAal Statements- conlimu for the Year Ended 31 December 20 13. MOVEMENT IN FUNDS N¢t movement in funds At 31.12.23 Atl.1.23 Unrestri¢ted fulld5 General fund 94,928 1,777 96,705 Restricttd fllnds Restricred Fwid 2,695,034 8,511 2,703,545 TOTAL FUNDS 2,789 902 Net movement in fij￿j& included in tbe above are as follows.. Incoming Resources expended Gains and lo&ses Movement in ￿ll{￿ Unrestri¢t¢d futtd8 General fund 210,393 (208,616) 1,777 Restrletrd fund$ Restricted Fund 54,007 {45,496) 8,511 TOTAL FUNDS 264 400 254 112 10 R￿trIcted funds Net movement in funib Ai 31.l2.23 At 1.1.23 Prop¢rty fi]Dd 2,832,886 2,832.886 Mission Fund 13,550 (8,744) 4,806 F¢llowshtp Fund 371 3,129 3,51M Building for God Fund (151,773) 14,126 {137.647) TO'fAL FUNDS 2 695 034 2 703.545 continued... Tllnbrid e Wells Ba tist Chur¢h Notes to the Financial StatemeDts- eoDtillued 31D 13. MOVEMENT IN FUNDS- contiDued Restricted Funds.. Property Fulld- this fund r¢pr¢s¢nts the l)ook yah￿ of th¢ church premises at iheir 1997 valuation. Mission FuDd- the fund repr¢s¢nt$ giving direct to mission ¢auses included Baptlst Home and Overseas Mission and amounts donated frotll specific appeals held during the yvdr. Fellowship Fund- this r¢presents gifts made to assist those in need in the f¢llowship tog¢th¢r with running the Conll)Junity Larder. Bul]dlDg for God Fllnd- this reprwents giving towards the church building and th¢ loan taken out with the Baptigt Union Corporation to enable th¢ modemisation of the Church sanctuary. Comparative net movement In futtds are #s follows: In¢oming resources Resourc¢s expend¢d Gains and losses Movement in funds UDrestrl¢ted funds General fund 194,025 (196,290) 30,161 27,896 Restrfieted funds R¢strioted Fund 66.388 (46,8281 21,560 TOTAL F￿4Ds 262413 243 118 Net ovement in futrjs At 31.12.22 At 1.1.22 Unrestrleted funds General ￿rtd 67,032 27,896 94,928 Restrieteil funds Restricied Fund 2,673,474 21,560 2,695,034 TOTAL FUNDS 2,740,506 49.456 2 789,962 continue¢l..