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 premi*s
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

5. 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
6. 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
7. 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

8. 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
9. 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
10. 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): 


**----- Start of picture text -----**<br>
Address:| | AS Wik U CS Newport Need.<br>P03 LOY<br>**----- End of picture text -----**<br>


## 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