2024-03-31-accounts

TRUSTEES REPORT- ACHIEVEMENTS AND PERFORMANCE IN 2024. Castlehold Baptist Church continues to provide a benefit to the Public- and this provision continues to grow and diversify since the last Trustees Report of 2023. C.B.C. is now a Christian5 Against Poverty Debt Centre, providing debt advice to an i51and populace many of whom struggle with financial matters. This service 15 presently condutted in concert with six other churches who both support the work financially and help provide "befrienders,, trained volunteers who assist in home Interviews with the trained Lead Debt Centre Advisor. We are moving towards creating a CIO in January in 2025 and widening the support from island churche5. Another major development of benefit to the Public has been the church's Children and Young Peoples Ministry. A new weekly children's club called "Rock Solid" began in 2023 which at very reasonable cost provided individual and corporate fun games and activities along with educational input and teaching about good citizenship in general and Bible stories in particular. At the last Rock Solid club of 2024 there were 20 children, many from the outside community, having Christmas games together and learning about the Christmas story. Plans are now in place to grow a "Rock Solid 2" in 2025 for older children. In fact, the Children and Young Peoples Minlstry is growing at every level since the last Trustees Report of 2023. We now provide classes with a range of approprlate educational and pastoral support from 3yrs- 20 plus yrs both on a Sunday and mid-week. 1st Newport Girls Brigade, based and resourced by C.B.C. has doubled in numerical slze slnce 2023. It Is important to note that these facilities and resources are as avallable to the Public as they are available to regular church members and attendees. A further development Is the closer relationship which C.B.C. now has with l.O.W Youth For Chrlst. The church Is represented on the Y.F.C. Steering Group which in 2023 created a new part-tlme Youth Outreach Post. Like Rock Solid and the C.A.P. Debt Centre, this Is an ecumenical position. This Youth Outreach Post has grown and developed into The Newport Youth Project in 2024. This Project conducts outreach work into schools and various Young Peoples activities in the evening such as Film Nights. For the second time. C.B.C. had an Open Day to the Public In 2024. This was an opportunity not only to showcase to the Community the varied activities we oversee but also those community 8roups and activities which we support (such as the Alzheimerfs Café in Newport). The needs of retired and also elderly people have not been neglected as our Public Service to working-age adults, children and young people has developed and diversified. As well as our representation on the team for Newport Alzheimerfs Café, we also host a bi-monthly Coffee Morning for the community. For the first time in 2024 we san8 Christmas Carols in a Care Home in Newport. This was very well received by the residents and staff and we plan to develop closer ties with the Care Home in 2025. We are still in the process of planning and seeking funding for the "Quiet Gardens" initiative. This carefully designed space within the grounds of C.B.C. will provide a place of quiet and reflection in 2025 to assist the mentsl health of all age-groups but perhaps particularly the retired and also elderly. We are a150 Still planning to become a designated 'Safe Space" in 2025 for any who need help.

In conclusion. C.B.C. continues to be successful in providing a benefit to all members of its local community- and beyond. This successful performance is evidenced in new initiatives manifesting during this last year with further new initiatives in the planning. Of the small number of initiatives which we hoped would come to fruition in 2024 but did not. we remain confident they will in 2025. FINANCIAL REVIEW This financial year 2023/2024 saw us take a decision to put part of the surplus fund5 from the sale of the manse which is designated for repair and maintenance work into a higher Interest yielding account with a fixed period of 3 months per term which is renewable Subject to the decision of church members. A5 at the time of fixing £IOO.000 in the higher interest account, the balance of the surplus fund from the sale of the Manse was £124,151.68. This move was aimed at maximizing the potential for utilizing the funds in the most economically viable way. FINAL ACCOUNT This final account shows a deficit of £13,089 which is an increase from what it was In the last financial year. This is largely accounted for by planned maintenance work on the manse together with extensive maintenance work on the church building. However, most of the maintenance work on the church was covered by insurance and the work on the manse was covered by transfer from the funds he with BUC. Overall giving was slightly up on last year which is encouraging. Overall cost for the year has remained relatively the same. The consequence is that the general fund now stands at £24,856, £2,955 higher than last year. BUDGET This year's budget was set using the previous year's income as a guide to the expected revenue, factoring in a possible 5% increase or decrease in experted income as well as inflation. Emphasis was laid on the advantages of gift aiding for those who qualify as this would create an opportunity to minimize budget deficits. RESERVE POLICY Based on the reserve policy outlined by the Baptist union corporation BUC, which is which is an average of 3 months of overall expenditure plus 3 months of staff cost. Based on this, we require a reserve of £38,333.25 using the figures of the overall expenditure and staff cost for the financial year. Our present reserve is lower than this and is in danger of becoming weaker unless the level of giving increases and more people subscribe to the gift aided scheme.

CASTLEHOLD BAPTIST CHURCH FINANCIAL STATEMENT FOR THE YEAR ENDED 31 March 2024 GENERAL RECEIPTS & PAYMENT ACCOUNT Note 2023124 2022123 Receipts w￿klY offerlngs Regular Giving and other income Income tax recovered on gifts Confidential Fund Rents and contributions for use of premises Donations & Legacies Youth CAP Debt Centre Insuran￿ claim Osundry Income Total Receipts 8,088 58,207 11,481 13,609 47,860 11,290 146 6,975 4,825 324 1,903 6,300 3,988 732 11,865 786 87,718 100.701 Payments Ministry Mission & Outreach Upkeep of church premis Youth Wor Administration Gifts to Organisations Other Professional Servi Sundries Training Volunteer Expenses Confidential Fund Cap Debt Centre Totsl Payments 58,176 3,395 31,773 1,378 14,787 59,738 2,649 16,544 1,662 12,173 752 2,127 315 49 2,622 585 76 193 96,202 113,790 Net Receipts/(payments) for the Year Transfer from BUC Cash Balance at Previous Year end (13,089) 16,044 23,768 (8,484) 31252 Cash balances at current year end CAP DEBT CENTRE Restrlcted account held In a separnte bank ac£ount 2023124 2022123 Receipts Dorbations Partnership Contributions Bank Interest Total Re￿Ipts 1,722 3,600 5,322 Payments Manager's Expenses offi￿ Costs (Phone) CAP Support Total Payments 251 306 5,657 Net receiptsl(payments) for the year 334 Transfers (to) l from Debt Centre Cash balance at prevlous year end Cash balance at current year end (1,613)

Note 2023124 254 2022123 Balan￿ Blfwd Transfer from General Fund Balance Clfwd 254 254 2022123 254 MARIUAGE COURSE FUND Balan￿ Blfwd Transfer to General Fund Balance C/fwd 256 GENERAL FUND Balan￿ B/fwd Net Re￿Ipts (Payments) Transferred from BUC Transferred to Confldentlal Fund Transferred to Debt Centre Total From FurKIs Balan￿ C/fvKI Note 2023124 2022123 21,901 (13,089) 16,044 31,996 (8,484) 254 24,856 21,645 256 21,901 24056 srATEMENTOF ￿$SETs AND LIABIUTESAT 31rt MARCH 2022 2023124 2022123 Bank and other cash balan￿5 Petty Cash Nat West Bank No l Account Nat West Bank No 2 Account (CAP Debt Centre) 25,028 1358 26389 22,154 Totsl £80 Glfts wrongly credited to No 2 Alc Representing Balances on following funds General Fund Marrlage Course Fund Debt Centre Qjnfidentlal Fund 23,768 24,856 21,901 1,279 254 26,389 1,613 254 23,768 Total Assets held In tswst by BUC 7 day notice deposit Account 126,728 135,247 Total Liabilitles The accounts and statement of assets arKI Ilablllties set out on pages l & 2 relatlng to the year ending 31 March 2024 are as roved by the deacons. Signed: Treasurer 6/1112024 S4ÈpH6N Page2ofS

NOTESTO ThE ACCOUNTS l. Basis of accounts These accounts have been prepared on a 'receipts and payrnents, basis and in accordance with Settron 133 Charities Art 2011. Regular giving and other income 2023124 40,018 18,189 2022123 31,237 15,814 Gtft Alded giving General Giving Other Income [detalllf Ma￿r￿lJ Total Donations and Other Income 58,207 47,051 3. Donations & Legacies 2023/24 700 142 2022123 532 Tear Fund Bags for Camtx)dia Christmas Gifts Legacy Sundry Mcmillan Coffee Morning Glfts Can￿r Research Grant 2,990 73 125 4,000 45 50 156 Total 3,988 4,825 4. Ministry 2023124 35,013 4,530 680 265 17,688 2022123 45,026 6,018 906 200 7,588 Salaries & N.I. Penslon contrlbution Minlsterfs Ewe5 Preaching Fees Manse costs Other minlstry [detail if matsrlalj Total Mlnlstry 58,176 59,738 The Minister acts as one of the church's trustees and receives remuneration and other beneflts In respett of hls senIl￿S as Minister, includlng the provision of manse accommodatlon owned by the church. Man* costs indude maintenance work £10,038 covered by transfer from the reserve account held by BUC Page3of5

1. Mission & Outreath 2023124 2022123 Operatk)n Mobllisatlon (Samuel Hughes) Go Cardless Llterature Chrfstianlty Explo￿d Cap Debt Centre Y¢Juth Outreach expenses Publicity Sundry Total Mlssion 600 216 600 279 824 118 1,159 547 108 105 3,395 168 649
2. Upkeep of church premlses 2023124 4,557 3,301 3,164 19,346 264 1,141 2022123 4,939 3,330 Ughting and heating Cleaning Insurance Repairs and malntenan Water Other premtses Insurdn Equipment Sundry Total Upkeep of church premises 31,773 16.544 Note. Repairs arKI Maintenan￿ induded £14,940 of storm damage and wear & tear covered by the Insuran￿ daim and from resene funds held by BUC 3,822 264 1,109

3. Admlnlstration 2023124 461 655 552 246 35 235 2022123 457 680 387 241 li 138 Bank Charges Book Keeping Catering Web Site m1scellar￿￿S Stationery & Postsge E 11 Telephone & Broad Band Printing LI￿nseS Photocopier Sundrles Wages EquiF¥nent (Laptop) 2,078 396 1,336 1,452 1,264 664 130 6,1￿) 499 163 7507 177 Total Admln & Office Costs 14,787 11173 Page4of5

4. Gifts to OryaniZati(￿S 2023124 156 700 2022123 125 532 45 50 Mc Millan Nurses Tear Fund Can￿r Research SCBA Bags for Cambodla 142 Totsl Gifts to Oryanisations 998 752

5. Assets Held for the Churth's own use The church is the ￿enef￿lar owner (subject to the relevant trusts) of the following assets, the Fegal title to which is held by the church's custodian trustee [the Baptist Union CortK)ration Ltd]: Church premises at High Street, Newport valued In the accounts at £4,527,103 based on insured value Church manse at Couthr￿s, 128 Medina Avenue purd)ased for £440,CKM) March 2023 Shop Premises at 834 High Stree¢ Newport valued in the accounts at £521,298 based on Insured value The churth also owns fixtures, furniture and equipment with an Insur￿ value of £204,451
6. Pension Stheme Liablllties The Church is a participatlng employer the Baptlst Pension SchenE C'the Scheme?, which Is a separate legal entity administered by the Pension Trust￿ (Baptist Pension Trust Limlted). The assets of the Scheme are held separately from those of the Employer and the other participatlrKJ employers. The Scheme, previously known as the Baptist Mlnisterg Pension Fund, started in 1925, but was closed to future accrual of defined benefts on 31 December 2011. Prior to this date the main benefft provided through the Defined Benefrt (DB) Plan was a pension of one eightieth of final minimum pensionable income for each year of pensionable Servi￿ together with additional pension in reskErt of premiurns paid on Pensionable Income in ex￿5 of Minimum Pensionable Inc(xne. sin￿ l January 2012, benefits have been provided through a Defined Contribution (DC) Plan. •• A formal valuatK)n of the DB Plan as at 31 December 2019 by a professionalty qualified Actuary using the Projected Unit Method. At the valuation date the market value of the DB Plan assets was £298 million, whilst the level of assets needed to pay benefits was £316m, giving a deficit of £18m (equivalent to a past service funding level of 94%). The Church and the other part￿lpatiThj employers in the DB Plan are collectively responsible for funding this defiat. The next actuarial valuation of the DB Plan within the Scheme is due to tske place not later than as at 31 Decanber 2022. On 30th June 2022 the Bapttst Pension Scheme signed an agreement wlth the Insuran￿ company Just Group fJusV) to secure DB Plan members, pension benefits. Just are now providlng financial backing for all pensions provided through the Scheme's DB Plan and followlng this tranS￿tIon, the Scheme ￿ lorNJer has a shortfall. An updated Recovery plan was then signed In A￿uSt 2022 under whlch recovery contrlbutlons from each partlclpatlng employer in the DB Plan reduced to £1 per month from August 2022. PageSof5

Ly o SUC ERIGAnID. Ata Lee Independent examiner's report a on the accounts

SectionA

Independent Examiner’s Report

Report to the | Charity . trustees/directors/ | Castlehold Baptist Church members of

On accounts for the year | 315' March 2024 ended

Set out on pages

| report to the charity trustees on my examination of the accounts of the Company for the year ended 31/03/2024.

Responsibilities and As the charity’s trustees of the Company (who are also the directors of the basis of report company for the purposes of company law), you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (“the 2006 Act”). Having satisfied myself that the accounts of the Company are not required to be audited for this year under Part 16 of the 2006 Act and are eligible for independent examination, | report in respect of my examination of your. charity's accounts as carried out under section 145 of the Charities Act 2011 (“the 2011 Act”). .In carrying out my examination, | have followed the Directions given by the Charity Commission (under section 145(5)(b) of the 2011 Act. Independent | have completed my examination. | confirm that no material matters have examiner's statementCome* accountingto my attentionrecords werewhichnotgiveskept mein causeaccordanceto believewith that:section 386 of the Companies Act 2006; or * the accounts do not accord with such records; or. ; * the accounts do not comply with relevant accounting requirements under section 396 of the Companies Act 2006 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; or _ the accounts have not been prepared in accordance with the Charities SORP (FRS102). | have no concerns and have come across no other maiters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Signed: Date:| 14 IV. ly Name:| (2). WOLC RTE 1 October 2018

JER

Relevant professional | FCC qualification(s) or body

(if any):

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Address:| | AS Wik U CS Newport Need.
P03 LOY
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Section B

Disclosure

Only complete if the examiner needs to highlight material matters of concern (see CC32, Independent examination of charity accounts: directions and guidance for examiners).

Giveany items here briefthat the details of /One. examiner wishes to disclose.

IER

2

October 2018