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← Creech St Michael Baptist Church

2023-12-31-accounts

Charity Registration No. 1133944

CREECH ST MICHAEL BAPTIST CHURCH

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

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CREECH ST MICHAEL BAPTIST CHURCH

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees M Partridge Revd. M Bradley J Warden B Cavaghan C Medlock R Chinnadurai M Bailey M Fox A Law A Wallace R Willcocks Charity number 1133944 Independent examiner Philip Adrian Stallard Lentells Limited Ash House Cook Way Bindon Road Taunton Somerset TA2 6BJ

(Appointed 22 May 2023) (Appointed 22 May 2023)

CREECH ST MICHAEL BAPTIST CHURCH

CONTENTS

Page
Trustees' report 1 - 4
Statement of trustees' responsibilities 5
Independent examiner's report 6
Statement of financial activities 7 - 8
Statement of financial position 9
Statement of cash flows 10
Notes to the financial statements 11 - 23

CREECH ST MICHAEL BAPTIST CHURCH

TRUSTEES' REPORT

FOR THE YEAR ENDED 31 DECEMBER 2023

The trustees present their annual report and financial statements for the year ended 31 December 2023.

The accounts have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the church's trust deed, the Charities Act 2011 and “Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)” (as amended for accounting periods commencing from 1 January 2016).

Objectives and activities

The objectives of the charity are to advance the Christian faith according to the principles of the Baptist denomination. It also advances education and undertakes other charitable purposes in the UK and other parts of the world.

The activities undertaken include public worship, prayer, bible study, teaching, encouragement, education and pastoral care.

Public Benefit Statement

The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the church should undertake.

Grant-making Policy

Grants are approved by the church meeting within the approval of the annual budget with any additional items voted by the same body during the year as the need arises.

Achievements and performance

Review of the past year

The year started positively with a popular launch event for our Alpha course, featuring Andy Kind (a Christian comedian). The subsequent Alpha course was very successful, leading to a follow-up group called Stepping Stones for those wishing to explore the Christian faith further

The start of the year also saw a change in the office, with the new role of ‘Ministries Support Coordinator’ aiming to enable and facilitate members as they use their gifts to start and/or run ministries as God leads them.

Sunday morning services have been well-attended both by existing church members and by an encouraging number of new people. Our children’s and youth work on Sunday mornings also thrived, seeing more young people attend and learn more about our faith.

One of our Life Groups, J24 based in North Petherton, became involved in reaching out to asylum seekers housed in a local hotel. Under the guidance of CHARIS (a local Christian charity with close links to our church, caring for asylum seekers and refugees) they started running various groups and activities, as well as enabling those who wish to, to attend church.

2023 also saw the start of a new monthly ministry to Seniors, called Prime Time, with the aim of enabling friendships and conversations for all Seniors in the local community.

We also facilitated the start of a Carers’ Support Group, run monthly in our church building by Spark and Somerset Carers Service, offering support, practical advice, and friendship to unpaid carers and the people they care for. This was hosted by members of our church, who offer a warm Christian welcome.

Our Creech Men group, aimed at supporting men in their faith and in supporting each other, has been successfully revitalised and during 2023 held regular events both at church and elsewhere.

Our Parent and Toddler group continued to thrive in 2023, with many parents and carers from our local communities attending with their children.

CREECH ST MICHAEL BAPTIST CHURCH

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

Easter time also saw our church join together once again with our local Anglican friends in a walk of witness through the village, as well as our usual Easter services and celebrations.

Our Life Café opened on Thursdays and Fridays, welcoming people in to not only share food and drink, but to share encouragement and support. The Life Café also opened for 2 Saturdays per month, often with special events such as Christian book stalls, etc. We also continued to run a weekly Welcome Space, offering a free warm space and a place to meet and make friends, along with a monthly Community Feast, offering a free meal and a warm welcome to anyone in the local community. This was often also attended by the asylum seekers, giving us further opportunities to care for them.

Our Life Groups continued to thrive, with new ones starting, giving members the chance to study the Bible, prayerfully support each other, and have fun.

We continued with our ‘pause for prayer’, which offered the weekly chance via Zoom for people to take time out to pray. We also continued our monthly prayer for the persecuted church throughout the world, again via zoom. In response to the challenges the school is facing, a small group also started a monthly prayer meeting for our local secondary school.

Shine, a lunchtime club in a local primary school, continued to introduce children to the Christian faith through stories, crafts – and fun. Our pastors and other members were also involved through governing bodies, ethos committees and leading assemblies/collective worship in our local primary schools.

Throughout 2023, our leadership team/trustees continued to meet together in person twice a month for prayer and to discuss the oversight of the church and its ministries. One of those meetings was focussed on prayer and strategic planning and discussion (generally centred on one key issue each month) while the other was focussed on praying for and discussing the practical and spiritual oversight of church life.

Our youth and children’s work continued to reach out to young people, with Sunday morning groups for all ages and two weekday youth groups for ages 11 up, along with a monthly ‘youth café’ – a friendly space based in our café where young people can invite their friends. Some of our young people also went on residential weekends called SPREE and Satellites where they enjoyed meeting other young Christians through various activities and events. As this was so successful, more weekends are planned in 2024 including Luminosity, which is part of New Wine.

Some of our young people also attended ‘Movement Worship’ evenings once a month, giving them the opportunity to meet and worship with other local young Christians.

A Year 6 group called Kidzone+, running an adapted version of Youth Alpha, ran until the end of the school year. The beginning of August once again featured our Holiday Club. Approximately 100 primary school-aged children came along for a week of silliness, crafts, games, stories, Bible study, prayer, and laughter, run by dozens of church volunteers.

2023 saw the sad loss of some of our senior church members. Although mourning their loss to us, we gathered together to give thanks for their lives, their faith and witness, and rejoice that they are now with their Lord.

Towards the end of the year, we had the privilege of hosting the ordination of Ali Tinson into Baptist Ministry.

2023 ended with our joyful Christmas events – to name a few: a nativity centred around a large ‘campfire’ constructed at the centre of the main church, which saw our children retell the Christmas story in an imaginative way, and was warmly enjoyed; a large Christmas community fayre which we helped organise and host; carols by candlelight; carols round the tree at our local pub saw a large number of local people gather and have the chance to hear the truth of the Christmas story

CREECH ST MICHAEL BAPTIST CHURCH

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

Financial review

The attached financial statements show the state of finances of the church and comply with the Charities Act 2011 and the Charities SORP.

The Statement of Financial Activities shows net expenditure for the year of £18,447 after charging depreciation of £16,201.

The balance sheet shows an decrease in net assets to £327,307. Of this figure, £62,314 now relates to the general fund, £26,604 relates to the designated funds and £238,389 relates to restricted funds for outreach, love gifts, mission, church property and building funds.

As pointed out at note 1.12, Brookings Cottage and The Arches are held by a separate charity, the ‘Brookings Trust’. As such, all assets, liabilities, income and expenses of this charity are excluded from the accounts of Creech St Michael Baptist Church.

Reserves Policy

The church has adopted a minimum level of income reserves of three months of budgeted expenditure excluding restricted or designated expenditure. This reserve is adopted in order for the church to meet its financial obligations should there be a sudden reduction in its income. At the year end, the unrestricted net asset balance amounted to £62,314 which comfortably exceeds three months expenditure..

Investment powers and policy

The trustees are responsible for ensuring that sufficient cash is held to cover day to day expenses of the charity and the best returns available are achieved on surplus funds.

Risk management

The trustees have assessed the major risks to which the church is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.

Structure, governance and management

The church was established by Trust Deed and has a written constitution, last updated 19 May 2014.

The trustees who served during the year and up to the date of signature of the financial statements were: I Kelland (Resigned 22 May 2023) M Partridge Revd. M Bradley J Warden B Cavaghan I Tremain (Resigned 22 May 2023) C Medlock R Chinnadurai M Bailey M Fox A Law A Wallace (Appointed 22 May 2023) R Willcocks (Appointed 22 May 2023)

The Trustees were appointed by the membership of the church in general meeting. Induction and training needs are provided for by other trustees and external guidance is sought when needed.

The Church is a registered charity under registration number 1133944. The church address is Creech St Michael Baptist Church. Creech St Michael, Taunton, Somerset, TA3 5QQ.

CREECH ST MICHAEL BAPTIST CHURCH

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

Trustees' Expenses and Remuneration

In the current year and the previous year, no remuneration or expenses were paid to the Trustees in their capacity as charity Trustees. However, Revd Bradley, Mr Partridge, Mr Bailey and Mrs Warden all received remuneration for other aspects of their church duties. Remuneration paid to these individuals is shown within the accounts.

Related Charities

The custodian trustee of the church is the Baptist Union Corporation Limited (charity number 249635), which is controlled by the Baptist Union Council. The church is also a member of the Baptist Union of Great Britain.

The trustees' report was approved by the Board of Trustees.

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MGBradley Signed on 03/07/24 @ 16:14

..............................

Revd. M Bradley

Trustee

Date: .............................................

CREECH ST MICHAEL BAPTIST CHURCH

STATEMENT OF TRUSTEES' RESPONSIBILITIES

FOR THE YEAR ENDED 31 DECEMBER 2023

The trustees are responsible for preparing the Trustees' 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 and 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 church and of the incoming resources and application of resources of the church for that year.

In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping sufficient accounting records that disclose with reasonable accuracy at any time the financial position of the church 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 church and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

CREECH ST MICHAEL BAPTIST CHURCH

INDEPENDENT EXAMINER'S REPORT

TO THE TRUSTEES OF CREECH ST MICHAEL BAPTIST CHURCH

I report to the trustees on my examination of the accounts of Creech St Michael Baptist Church (the church) for the year ended 31 December 2023.

Responsibilities and basis of report

As the trustees of the church you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (the 2011 Act).

I report in respect of my examination of the church’s financial statements carried out under section 145 of the 2011 Act. In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

Since the church’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of ICAEW, which is one of the listed bodies.

Your attention is drawn to the fact that the charity has prepared financial statements in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn.

I understand that this has been done in order for financial statements to provide a true and fair view in accordance with Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.

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PA Stallard Signed on 05/09/24 @ 10:04

Philip Adrian Stallard Chartered Accountant

Lentells Limited Ash House Cook Way Bindon Road Taunton TA2 6BJ TA2 6BJ

Dated: .........................

CREECH ST MICHAEL BAPTIST CHURCH

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 DECEMBER 2023

Current financial year
Unrestricted
Unrestricted
Restricted
funds
funds
funds
general
designated
2023
2023
2023
Notes
£
£
£
Income from:
Donations and legacies
3
210,199
24,533
19,865
Charitable activities
5
26,554
-
-
Investments
4
917
-
-
Total income
237,670
24,533
19,865
Charitable activities
6
214,185
26,242
60,088
Net income/(expenditure)
23,485
(1,709)
(40,223)
Transfers between funds
(37,620)
6,270
31,350
Net movement in funds
(14,135)
4,561
(8,873)
Reconciliation of funds:
Fund balances at 1 January 2023
76,449
22,043
247,262
Fund balances at 31 December
2023
62,314
26,604
238,389		 Total
2023
£
254,597
26,554
917
282,068
300,515
(18,447)
-
(18,447)
345,754
327,307		 Total
2022
£
250,152
17,474
269
267,895
286,612
(18,717)
-
(18,717)
364,471
345,754

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

CREECH ST MICHAEL BAPTIST CHURCH

STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED) INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 DECEMBER 2023

Prior financial year
Unrestricted
Unrestricted
Restricted
funds
funds
funds
general
designated
2022
2022
2022
Notes
£
£
£
Income from:
Donations and legacies
3
214,294
24,526
11,332
Charitable activities
5
17,474
-
-
Investments
4
269
-
-
Total income
232,037
24,526
11,332
Charitable activities
6
204,041
26,390
56,181
Net income/(expenditure)
27,996
(1,864)
(44,849)
Transfers between funds
(65,540)
5,934
59,606
Net movement in funds
(37,544)
4,070
14,757
Reconciliation of funds:
Fund balances at 1 January 2022
113,993
17,973
232,505
Fund balances at 31 December 2022
76,449
22,043
247,262		 Total
2022
£
250,152
17,474
269
267,895
286,612
(18,717)
-
(18,717)
364,471
345,754

CREECH ST MICHAEL BAPTIST CHURCH

STATEMENT OF FINANCIAL POSITION

AS AT 31 DECEMBER 2023

Notes
Fixed assets
Tangible assets
11
Current assets
Debtors
12
Cash at bank and in hand
Creditors: amounts falling due within
one year
13
Net current assets
Total assets less current liabilities
The funds of the church
Restricted income funds
14
Unrestricted funds - general
Unrestricted funds - designated
15		 2023
£
10,277
109,431
119,708
8,558		 £
216,157
111,150
327,307
238,389
62,314
26,604
327,307		 2022
£
9,726
109,375
119,101
5,644		 £
232,297
113,457
345,754
247,262
76,449
22,043
345,754

The financial statements were approved by the trustees on .........................

MGBradley Signed on 03/07/24 @ 16:14 A J Wallace .............................. ..............................Signed on 04/09/24 @ 17:51 Revd. M Bradley A Wallace Trustee Trustee

CREECH ST MICHAEL BAPTIST CHURCH

STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED 31 DECEMBER 2023

Notes
Cash flows from operating activities
Cash absorbed by operations
19
Investing activities
Purchase of tangible fixed assets
Proceeds from disposal of tangible fixed
assets
Investment income received
Net cash generated from/(used in)
investing activities
Net cash used in financing activities
Net increase/(decrease) in cash and cash
equivalents
Cash and cash equivalents at beginning of year
Cash and cash equivalents at end of year		 2023
£
(1,137)
1,076
917		 £
(800)
856
-
56
109,375
109,431		 2022
£
(31,663)
-
269		 £
(6,808)
(31,394)
-
(38,202)
147,577
109,375

CREECH ST MICHAEL BAPTIST CHURCH

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

1 Accounting policies

Charity information

The Church is a registered charity. The charity’s registration number is 1133944. The church address is Creech St Michael Baptist Church, Creech St Michael, Taunton, Somerset TA3 5QQ.

1.1 Accounting convention

The accounts have been prepared in accordance with the church's trust deed, the Charities Act 2011 and “Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)” (as amended for accounting periods commencing from 1 January 2016). The church is a Public Benefit Entity as defined by FRS 102.

The financial statements are prepared in sterling, which is the functional currency of the church. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2 Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the church has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives unless the funds have been designated for other purposes.

Unrestricted designated funds are funds which have been designated for a particular purpose. These funds may be redesignated at the discretion of the church. An analysis of the unrestricted designated funds is given in the notes to the financial statements.

Restricted Income funds are funds which are subject to specific trusts and objects. These comprise specific love gifts, amounts earmarked out of general giving specifically for Outreach and Mission, and the original amounts used for the re-building of the church building. The purposes and uses of the restricted funds are set out in the notes to the accounts.

1.4 Income

Income is recognised when the church is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the church has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the church has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

Lettings income is recognised when the rental is due.

Investment income is accounted for when it is receivable.

CREECH ST MICHAEL BAPTIST CHURCH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

1 Accounting policies

(Continued)

1.5 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.

Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.

Grants

Grants and donations are accounted for when paid or awarded, if the award creates a binding obligation.

Other Charitable Expenditure

Expenditure that directly relates to a cost category is charged solely to that category. However, where expenditure relates to at least two such categories, the cost is apportioned as necessary. Expenditure is generally recognised when incurred and is accounted for gross.

1.6 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold land and buildings 1% straight line (Improvements 5%) Fixtures and fittings 20% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

The deacons believe the historic cost of the freehold property to be £250,000 as incurred between 1983 and 1985. This specifically excludes the historic cost of the land which was gifted in the 1860’s and is certainly immaterial to these accounts.

The original cost of fixtures and equipment at 31 December 1999 was not known. It was not cost effective to value all of the related assets. Therefore, the cost at that date has been taken at its insurance value as per the September 1999 declaration as allowed by the Charities SORP. Fixtures and equipment purchased since that date have been capitalised at cost and subjected to depreciation as above.

1.7 Impairment of fixed assets

At each reporting end date, the church reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.8 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

CREECH ST MICHAEL BAPTIST CHURCH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

1 Accounting policies

(Continued)

1.9 Financial instruments

The church has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the church's balance sheet when the church becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the church’s contractual obligations expire or are discharged or cancelled.

1.10 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the church is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.11 Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.12 Brookings Cottage and The Arches

Both of these properties are held by a separate charity, the ‘Brookings Trust’, and a separate return is made to the Charity Commission. As such, all assets, liabilities, income and expenses of this charity are excluded from the accounts of Creech St Michael Baptist Church.

CREECH ST MICHAEL BAPTIST CHURCH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

2 Critical accounting estimates and judgements

In the application of the church’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

CREECH ST MICHAEL BAPTIST CHURCH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

3 Income from donations and legacies

Unrestricted Unrestricted
Restricted
funds
funds
funds
general designated
2023
2023
2023
£
£
£
Donations and gifts
210,199
24,533
19,865
Donations and gifts
Offerings
167,806
-
-
Income tax recoverable
31,445
44
2,248
Love gifts
-
-
16,099
Other specified income
10,189
4,758
1,518
Outreach income
-
19,731
-
Sundry receipts
759
-
-
210,199
24,533
19,865		 Total
Unrestricted Unrestricted
Restricted
funds
funds
funds
general designated
2023
2022
2022
2022
£
£
£
£
254,597
214,294
24,526
11,332
167,806
159,421
-
-
33,737
29,775
-
-
16,099
-
-
9,118
16,465
10,934
7,144
2,214
19,731
-
17,382
-
759
14,164
-
-
254,597
214,294
24,526
11,332		 Total
2022
£
250,152
159,421
29,775
9,118
20,292
17,382
14,164
250,152

CREECH ST MICHAEL BAPTIST CHURCH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

4 Income from investments

Unrestricted Unrestricted
funds funds
2023 2022
£ £
Interest receivable 917 269
5 Charitable activities
2023 2022
£ £
Charitable rental income 26,554 17,474
Analysis by fund
Unrestricted funds - general 26,554
For the year ended 31 December 2022
Unrestricted funds - general 17,474

CREECH ST MICHAEL BAPTIST CHURCH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

6 Expenditure on charitable activities

Charitable Charitable
activities activities
2023 2022
£ £
Direct costs
Staff costs 102,934 83,570
Depreciation and impairment 16,105 13,403
Charitable Giving 75,928 86,648
Property expenditure 64,091 61,671
Church meetings and speaker expenses 5,971 4,960
Youth activities 9,911 6,848
274,940 257,100
Share of support and governance costs (see note 7)
Support 25,575 29,512
300,515 286,612
Analysis by fund
Unrestricted funds - general 214,185 204,041
Unrestricted funds - designated 26,242 26,390
Restricted funds 60,088 56,181
300,515 286,612
Support costs allocated to activities
2023 2022
£ £
Staff costs 14,684 19,668
Depreciation 96 118
Subscriptions 1,175 1,208
Bank charges 98 129
Catering costs 1,326 2,234
Office running costs 3,068 3,724
Bookkeeping costs 2,550 -
Independent examination 2,578 2,431
25,575 29,512
Analysed between:
Charitable activities 25,575 29,512

7 Support costs allocated to activities

CREECH ST MICHAEL BAPTIST CHURCH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

8 Trustees

In the current year and the previous year, no remuneration or expenses were paid to the Trustees in their capacity as charity Trustees. However, Revd Bradley, Mr Partridge and Mrs Warden all received remuneration for other aspects of their church duties. Remuneration paid to these individuals is shown in the notes to the financial statements.

9 Employees

The average monthly number of employees during the year was:

Administrative
Pastoral
Total
Employment costs
Wages and salaries
Social security costs
Other pension costs		 2023
Number
1
3
4
2023
£
99,367
3,735
14,516
117,618		 2022
Number
3
3
6
2022
£
90,956
1,562
10,720
103,238

A defined contribution pension scheme is made available to all eligible employees. The employer cost of this scheme is shown above. The outstanding liability at the year end was £1,336 (2022: £1,115).

There were no employees whose annual remuneration was more than £60,000.

Remuneration of key management personnel

The remuneration of key management personnel is as follows.

2023 2022
£ £
Aggregate compensation 97,544 81,552

10 Taxation

The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.

CREECH ST MICHAEL BAPTIST CHURCH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

11 Tangible fixed assets

Freehold land
and buildings
Fixtures and
fittings
£
£
Cost
At 1 January 2023
300,831
194,928
Additions
-
1,137
Disposals
-
(1,076)
At 31 December 2023
300,831
194,989
Depreciation and impairment
At 1 January 2023
107,745
155,717
Depreciation charged in the year
5,042
11,159
At 31 December 2023
112,787
166,876
Carrying amount
At 31 December 2023
188,044
28,113
At 31 December 2022
193,086
39,211		 Total
£
495,759
1,137
(1,076
495,820
263,462
16,201
279,663
216,157
232,297

Generally, all of the fixed assets are used for charitable purposes, though some of the fixtures and equipment are used in the administration function and the church centre is periodically let when under used for other purposes.

12 Debtors

Amounts falling due within one year:
Other debtors
Prepayments and accrued income		 2023
£
5,000
5,277
10,277		 2022
£
5,000
4,726
9,726

13 Creditors: amounts falling due within one year

Other taxation and social security
Trade creditors
Accruals and deferred income		 2023
£
2,226
332
6,000
8,558		 2022
£
2,096
-
3,548
5,644

CREECH ST MICHAEL BAPTIST CHURCH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

14 Restricted funds

The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.

At 1
Love Gifts & Mission Fund
Other Specified Fund
Church Property & Building
Fund
New Wine Fund
Previous year:
At 1
Love Gifts & Mission Fund
Other Specified Fund
Church Property & Building
Fund
New Wine Fund		 January
2023
Incoming
resources
Resources
expended
Transfers
At 31
December
2023
£
£
£
£
£
8,606
18,114
(42,453)
31,350
15,617
4,454
1,751
(515)
-
5,690
232,202
-
(16,105)
-
216,097
2,000
-
(1,015)
-
985
247,262
19,865
(60,088)
31,350
238,389
January
2022
Incoming
resources
Resources
expended
Transfers
At 31
December
2022
£
£
£
£
£
8,765
9,118
(38,947)
29,670
8,606
4,439
2,214
(2,199)
-
4,454
215,301
-
(13,035)
29,936
232,202
4,000
-
(2,000)
-
2,000
232,505
11,332
(56,181)
59,606
247,262

The Outreach and Mission Funds receive and disburse specified proportions of unspecified offerings received including tax recoverable. The proportions for the current year amounted to 3% for Outreach (2022: 3%) and 15% for Mission (2022: 15%).

The Love Gifts and Other Specified Fund receives and disburses specific gifts.

The Church Property and Building Fund relates to the funds used for the re-building and improvement of the church and the centre.

The New Wine fund and the llfracombe BC fund were created in 2019 for specific giving.

CREECH ST MICHAEL BAPTIST CHURCH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

15 Unrestricted funds - designated

The income funds of the charity include the following designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes:

At 1 January Incoming Resources Transfers At 31
2023 resources expended December
2023
£ £ £ £ £
Youth fund 1,793 - - - 1,793
Fellowship fund 123 4,802 (4,390) - 535
Outreach life cafe 2,297 19,062 (17,056) - 4,303
Outreach/local mission fund 17,830 669 (4,796) 6,270 19,973
22,043 24,533 (26,242) 6,270 26,604
Previous year: At 1 January Incoming Resources Transfers At 31
2022 resources expended December
2022
£ £ £ £ £
Youth fund 1,793 - - - 1,793
Fellowship fund 61 7,143 (7,081) - 123
Outreach life cafe - 17,169 (14,872) - 2,297
Outreach/local mission fund 16,119 214 (4,437) 5,934 17,830
17,973 24,526 (26,390) 5,934 22,043

The Youth Fund receives amounts given to support Youth activities and those families working with young people in the local community. The Special Mission fund is to help individuals with specific training and support.

The Fellowship Fund receives amounts from the General Fund for use in particular cases of need and hardship within the fellowship.

The Outreach Life Cafe was set up in 2016. Surplus funds generated are distributed to good causes.

CREECH ST MICHAEL BAPTIST CHURCH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

16 Unrestricted funds

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

At 1
General funds
Previous year:
At 1
General funds		 January
2023
Incoming
resources
Resources
expended
Transfers
At 31
December
2023
£
£
£
£
£
76,449
237,670
(214,185)
(37,620)
62,314
January
2022
Incoming
resources
Resources
expended
Transfers
At 31
December
2022
£
£
£
£
£
113,993
232,037
(204,041)
(65,540)
76,449

17 Analysis of net assets between funds

Unrestricted
Unrestricted
Restricted
funds
funds
funds
general
designated
2023
2023
2023
£
£
£
Fund balances at 31 December 2023 are represented by:
Tangible assets
-
-
216,157
Current assets/(liabilities)
62,314
26,604
22,232
62,314
26,604
238,389
Unrestricted
Unrestricted
Restricted
funds
funds
funds
general
designated
2022
2022
2022
£
£
£
Fund balances at 31 December 2022 are represented by:
Tangible assets
95
-
232,202
Current assets/(liabilities)
76,354
22,043
15,060
76,449
22,043
247,262		 Total
2023
£
216,157
111,150
327,307
Total
2022
£
232,297
113,457
345,754

CREECH ST MICHAEL BAPTIST CHURCH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

18 Related party transactions

There were no disclosable related party transactions during the year (2022 - none).

19 Cash generated from operations 2023 2022
£ £
Deficit for the year (18,447) (18,717)
Adjustments for:
Investment income recognised in statement of financial activities (917) (269)
Depreciation and impairment of tangible fixed assets 16,201 13,521
Movements in working capital:
(Increase) in debtors (551) (264)
Increase/(decrease) in creditors 2,914 (1,079)
Cash absorbed by operations (800) (6,808)

20 Analysis of changes in net funds

The church had no material debt during the year.