Charity Registration No. 1133944 CREECH ST MICHAEL BAPTIST CHURCH ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Lentells Chartered Certified Accountants
CREECH ST MICHAEL BAPTIST CHURCH LEGAL AND ADMINISTRATIVE INFORMATION Trustees Revd. M Bradley J Warden C Medlock R Jarvis M Bailey MFOX ALaw R Willcocks D Patrick (Appointed 3 June 20241 Charity numbor 1133944 Independent examiner Jodie Farkas Lenlells Limited Ash House Cook Way Bindon Road Taunton Somerset TA2 6BJ
CREECH ST MICHAEL BAPTIST CHURCH CONTENTS Page Trustees, report Statement of trustees, responsibilities Independent examiner's r8POrt Statement of financial activities Statement of financial position 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 2024 The trustees present their annual report and financial statements for the year ended 31 December 2024. The accounts have been prepared in accordance with the accounting policies set out in nole 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). Objectlves and actlvltles 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 Ihe need arises. Achievements and performance Annual Review 2024 2024 saw us celebrating 200 years of there being a Baptist church in Creech St Michael. We held events throughout the year, including two special services in March thanking God for his faithfulness, with various past ministers attending along with the mayor of Taunton, followed by an 'indoor picnic, with a beautiful 2001h anniversary cake. Continuing the anniversary celebrations, in October we welcomed about 200 people {from both the church and the wider local community) to a Harvesl Home evenl. This included delicious food, alcohol-free cider and ale, and a folk band led by one of our members, and was a lot of fun. During the year we also held quieter, more reflective events to mark our 200 years, including a 24 hours of prayer event, a prayer walk and a week of prayer with guided prayer displays and communal Night Prayer via Zoom. Also displayed in church on 2 large boards were hundreds of photos, gathered from members past and presenl, of moments ofjoy and fellowship from the distant UP lo the more recent past, and this served as an inspiring wilness to what God has done in and through our church. In addilion to the celebrations, 2024 was yet again a busy year, starting with both a marriage course and an Alpha course. Our Sunday morning services have been well-attended. by both existing church members and new people. Our ice-monthly evening services are quieter, but have proved an inspiring opportunity to worship and to lean more into God's presenGe. Sunday morning youth and children's work is also thriving, with a good number of young people attending regularly and learning more about our faith while having fun and forming friendships togelher. Our Creech Men group continued to thrive, with varied events aimed at men supporting each other in their faith and in friendship together , and a monthly ladies group called Nourish also started, providing breakfast and a chance for ladies from within our church to support, encourage, inspire, and pray for each other. The monthly Carers, Group facilitated by our church, and run by CCS, has continued to welcome many unpaid carers and the people they're caring for, and is hosled by 2 of our church members who offer a warm Christian welcome. On the weeks that the arers, group isn't running, this year has seen the start of a weekly Ghair-based exercise Glass aimed at seniors and those with mobility issues. Run by a church member, this has proved not only good for folks, physical health but also a good way to reach out to seniors.
CREECH ST MICHAEL BAPTIST CHURCH TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 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 and 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 camps called SPREE {where we joined with 2 other local Churches) and Luminosity {part of New Wine). Some also attended 'Movement Worship, evenings and local Christian youth gatherings, giving them the opportunity to meet and worship with other local young Christians, and some our young people were also involved in leading the worship too. The beginning of August once again featured our Holiday Club. More than 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. Shine, a lunchtime club in a local primary school, continued to introduce children to the Christian faith through stories and crafts and in 2024 grew in popularily, attracling 30-50 children every Thursday lunchtime. Our paslors and other members were also involved in local schools through governing bodies, ethos committees, leading assemblieslcollective worship, and running Open the Book. Our weekly Parenl and Toddler group also thrived in 2024, with many parents and carers from our local communities attending with their young children. Easter time saw our Church join togelher once again with our local Anglican friends in a walk of witness through the village, as well as our usual Easter services and celebrations. After Easter, our Lead Pastor went on sabbatical for 3 months, allowing him to explore various aspects of his faith. Our Life Cafe conlinued to grow and thrive. Opening on Thursdays and Fridays and on 2 Saturdays per month, we welcome people in not only to share food and drink, bul lo share encouragement and support. We also run regular Community Feasts, offering a free meal and a warm welcome to anyone in the local community. We have 15 Life Groups which continued to give members the chance to gather in smaller groups to study the bible, prayerfully support each other, and have fun. One Life Group, J24 based in North Pelherton, continued lo be involved in reaching out to asylum seekers in a local hotel. Under the guidance of CHARIS la local Christian charity with close links to our church, caring for asylum seekers and refugees) they run various groups and activities, including Alpha courses in various languages, as well as enabling those who wish lo, to attend church. We also continued our monthly prayer for the persecuted church and our weekly term-time 'pause for prayer, Iboth via zoom) Our Worldwide Mission group relaunched, strengthening connections with those missions and missionaries w8 support both in the UK and overseas. Our BMS link missionaries retired, and so we formed a new link with a missionary serving in a challenging part of Ihe world. The Mission Group also slarted producing a monthly prayer guide, with daily prayer guidan for the many different ministries in our church. Throughout the year, our leadership team continued to meet together for prayer and to discuss the spiritual and practical oversight of church life. One of Ihe mosl encouraging and inspiring aspecls of 2024 was the number of baplisms. 11 people were baptised, including 5 of our young people. We also saw an increase in membership, with more people choosing to enter into covenant relationship with us as a church family. Allhough a storm prevenled the Christmas fayre from going ahead, 2024 ended with some joyful Christmas evenls.. carols by candlelight, a nativity on the theme of'Gogglebox', which saw our children and many of our young people relell the Christmas story in an imaginative way, carols round Ihe tree at our local pub which saw a large number of local people gather and have the chance to hear the truth of the Christmas story, and of course a celebration service on Christmas Day.
CREECH ST MICHAEL BAPTIST CHURCH TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Flnanclal revlew 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 £2,177 after charging depreciation of £15,616. The balance sheet shows an decrease in net assets to £325,130. Of this figure, £71,285 now relates to the general fund, £43,553 relates to the designated funds and £210,292 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 ils financial obligations should there be a sudden reduction in its income. Al the year end, the unrestricted net asset balance amounted to £71,285 which comfortably exceeds three months expenditure. Investment powers and pollcy The trustees are responsible for ensuring thal sufficient cash is held lo cover day to day expenses of the charily and the best returns available are achieved on surplus funds. Rlsk management The trustees have assessed the major risks to which the church is exposed, and are satisfied that syslems are in place to mitigate exposure to the major risks. Structure, governan¢e and management The church was established by Trust Deed and has a written conslilution, last updated 19 May 2014. The Iruslees who served during the year and up to the date of signature of the financial statements were: M Partridge (Resigned 1 April 2025) Revd. M Bradley J Warden B Cavaghan C Medlock R Jarvis M Bailey MFOX ALaw A Walla R Willcocks D Patrick (Resigned 1 June 20251 (Resigned 31 December 2024) (Appointed 3 June 2024) 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 2024 Trustees. Expenses and Remuneratlon In the current year and the previous year, no remuneration or expenses were paid to the Trustees in their capacity as Gharity 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 totaled £125,501 in Ihe year. Related Charltles 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. Signed on 30 September Revd. M Bradley Trustee 025 @ 17..31 Date..
CREECH ST MICHAEL BAPTIST CHURCH STATEMENT OF TRUSTEES. RESPONSIBILITIES FOR THE YEAR ENDED 31 DECEMBER 2024 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 yéar. In preparing these financial statements, the trustees are required to.. select suitable accounting policies and then apply them consistently., observe the methods and principles in the Charities SORP., make judgements and estimates that are reasonable and prudent- state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial slatements., and prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation. The trustees are responsible for keeping sufficient accounting records that disclose with reasonable accuracy al 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 th8 assets of the church and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Jodie Farkas Countersigned on 01 October 2025 @ 09:04
CREECH ST MICHAEL BAPTIST CHURCH STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2024 Current financial year Unrestricted Unrestricted funds funds general designated 2024 2024 Restricted funds Total Total 2024 2024 2023 Notes Income from: Donations and legacies Charitable activities Investments 254,513 26,069 1,565 21,485 5,729 60 281,727 26,129 1,565 254,597 26,554 917 Total income 282,147 21,485 5,789 309,421 282,068 Expenditure on: Charitable activities 226,028 65,508 20,062 311,598 300,515 Totsl expenditure 226,028 65,508 20,062 311,598 300,515 Net Incomellexpendlture) 56,119 144,023) (14,2731 12,177) 118,4471 Transfers between funds (47,1481 60,972 (13,8241 Net movement In funds 8,971 16,949 128,0971 12,177) 118,4471 Reconclllatlon of funds: Fund balances at 1 January 2024 62,314 26,604 238,389 327,307 345,754 Fund balances at 31 December 2024 71,285 43,553 210,292 325,130 327,307 The slatement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from conlinuing activilies.
CREECH ST MICHAEL BAPTIST CHURCH STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED) INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2024 Prior financial year Unrestricted Unrestricted funds funds general designated 2023 2023 Restricted funds Total 2023 2023 Notes Income from: Donations and legacies Charitable activities Investments 210,199 26,554 917 24,533 19,865 254,597 26,554 917 Total income 237,670 24,533 19,865 282,068 Expenditure on: Charitable activities 214,185 26,242 60,088 300,515 Totsl expenditure 214,185 26,242 60,088 300,515 Net Incomellexpendlture) 23,485 11,7091 140,223) 118,4471 Transfers between funds 137,620} 6,270 31,350 Net movement In funds 114,135) 4,561 18,873) 118,4471 Reconclllatlon of funds: Fund balances at 1 January 2023 76,449 22,043 247,262 345,754 Fund balances at 31 December 2023 62,314 26,604 238,389 327,307
MGBradley Signed on 30 September 2025 @ 17:31 David Patrick Signed on 20/07/25 @ 19:48
CREECH ST MICHAEL BAPTIST CHURCH STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2024 2024 2023 Notes Cash flows from operatlng actlvltles Cash generated from/(absorbed by} operations 20 9,324 1800) Investing activities Purchase of tangible fixed assets Proceeds from disposal of tangible fixed assets Investment income received (855) 11,137) 1,076 917 1,565 Net cash generated from Investlng actlvltl8S 710 856 Net cash generated from flnanclng actlvltl8S Net Increase In cash and cash equlvalents 10,034 56 Cash and cash equivalents at beginning of year 109,431 109,375 Cash and cash equivalents at end of year 119,465 109,431 10-
CREECH ST MICHAEL BAPTIST CHURCH NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Accountlng pollcles Charlty Informatlon 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 Acl 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 IFRS 102)" las amended for aGGounting periods commencing from 1 January 2016). The church is a Public Benefit Entity as defined by FRS 102. The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn. The financial stalemenls are prepared in sterling, which is the funclional currency of the church. Monelary amounls in these financial statements are rounded to the nearest £. The financial slatements have been prepared under the historical cosl convention. The principal accounling policies adopted are set out below. 1.2 Golng 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 Charllable funds Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitsble 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 reived. 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 reiVed under Gift Aid or deeds of covenant is recognised at the time of the donation. Legacies are recognised on receipt or otherwise if Ihe church has been nolified of an impending dislribution, the amount is known, and reGeipt is expected. If the amount is not known, the legacy is treated as a contingent asset. Lettings income is recognised when the renlal is due. 11
CREECH ST MICHAEL BAPTIST CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Accounting policies (Continued) Investment income is accounted for when it is receivable. 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, inGluding support costs involved in undertaking each aGtivity. 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 Charltable Expendlture Expenditure that directly relates to a cost category is charged solely to that category. However, where expenditure relates to al 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, nel of depreciation and any impairmenl 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 Fixtures and fittings 10/0 slraight line Ilmprovements 50/0) 200/0 slraight lin8 The gain or loss arising on the disposal of an assel is delermined as Ihe difference between the sale proceeds and the Garrying value of the asset, and is reGognised in the stalemenl 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 accounls. The original cost of fixtures and equipment at 31 December 1999 was not known. It was not cost effective to value all of the relaled assets. Therefore, the cost at thal date has been taken at its insurance value as per the September 1999 declaration as allowed by the Charilies 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 detemine whether there is any indication that those assets have suffered an impairment loss. If any such indicalion exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any)- 12-
CREECH ST MICHAEL BAPTIST CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Accounting policies (Continued) 1.8 Cash and cash equivalents Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-temi liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. 1.9 Financial instruments The Ghurch 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 paty to the contractual provisions of the instrument. Financial assets and liabilities are offset, wilh the nel 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. Baslc flnanclal 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 melhod unless the arrangement constitules 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 conslilutes 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 li8bilities classified as payable within one year are not amortised. Debt inslruments 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 lerminalion benefits. 1.11 Retirement benefits Paymenls 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 separale 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. 13-
CREECH ST MICHAEL BAPTIST CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Crltlcal accountlng estlmates and Judgements In the application of the church's accounting policies, the Iruslees 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. 14-
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CREECH ST MICHAEL BAPTIST CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Income from Investments Unrestrlcted Unrestrlcted funds funds 2024 2023 Interest receivable 1,565 917 Charitable activities 2024 2023 Charitable rental income 26,129 26,554 Analysis by fund Unrestricted funds - general Restricted funds 26,069 60 26,129 For the year ended 31 December 2023 Unrestricted funds - general 26,554 16-
CREECH ST MICHAEL BAPTIST CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Expendlture on charltable actlvltles Charltable activities 2024 Charltable activities 2023 Direct costs Staff costs Depreciation and impairment Charitable giving Repairs and renewals Church meetings and speaker expenses Youth activities 111,471 15,616 70,321 65,199 11,087 8,616 102,934 16,105 75,928 64,091 5,971 9,911 282,310 274,940 Share of support and governance costs (see note 7> Support 29,288 25,575 311,598 300,515 Analysis by fund Unrestricted funds - general Unrestrict8d funds - d8signat8d Restrict8d funds 226,028 65,508 20,062 214,185 26,242 60,088 311,598 300,515 Support costs allocated to actlvltles 2024 2023 Staff costs Depreciation Subscriplions Bank charges Catering costs Office and sundry expenses Bookkeeping costs Independent examination 14,911 30 1,720 123 998 3,504 5,420 2,582 14,684 96 1,175 98 1,326 3,068 2,550 2,578 29,288 25,575 Analysed between: Charitable activities 29,288 25,575 17-
CREECH ST MICHAEL BAPTIST CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 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, Mr Bailey and Mrs Warden all received remuneration for other aspects of their church duties. Remuneration paid to these individuals tolaled £125,501 in the year. The Trustees were reimbursed throughout the year for ordinary charitable expenses. Employees Th8 averag8 monthly number of 8mploy88s during the y8ar was.. 2024 Number 2023 Number Administrative Pasloral Total Employment costs 2024 2023 Wages and salaries Social security cosls Other pension costs 106,431 4,545 15,406 99,367 3,735 14,516 126,382 117,618 A defined contribution pension scheme is made available lo all eligible employees. The employer cosl of this scheme is shown above. The outstanding liability at the year end was £1,42712023.' £1,336). There were no employees whose annual remuneration was more than £60,000. Remuneration of key management personnel The remuneration of key management personnel was as follows.. 2024 2023 Aggregate compensation 105,243 97,544 10 Taxation The charily is exempt from taxation on its activities because all its income is applied for charilable purposes. 18-
CREECH ST MICHAEL BAPTIST CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 11 Tanglble flxed assets Freehold land Fixtures and and buildings fittings Total Cost At 1 January 2024 Additions 300,831 194,989 855 495,820 855 At 31 December 2024 300,831 195,844 496,675 Depreciation and impairment At 1 January 2024 Depreciation charged in the year 112,787 5,042 166,876 10,604 279,663 15,646 At 31 December 2024 117,829 177,480 295,309 Carrying amount At 31 December 2024 183,002 18,364 201,366 At 31 December 2023 188,044 28,113 216,157 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 2024 2023 Amounts falling due within one year: Other debtors Prepayments and accrued income 5,000 6,952 5,000 5,277 11,952 10,277 13 Creditors: amounts falling due within one year 2024 2023 Other taxation and social security Trade creditors Accruals and deferred income 2,347 711 4,595 2,226 332 6,000 7,653 8,558 19-
CREECH ST MICHAEL BAPTIST CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 14 Retlrement beneflt schemes 2024 2023 Defined contribution schemes Charge to profit or loss in respect of defined contribution schemes 15,406 14,516 The Ghurch operates a defined Gonlribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the church in an independently administered fund. 15 Restricted funds The restri¢led 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 January 2024 Incoming resources Resources expended Transfers At31 December 2024 Love Gifts Other Specified Fund Church Property & Building Fund New Wine Fund Specific Gifts 15,617 5,690 4,950 779 13,0551 16171 115,617) 1,895 5,852 216,097 985 (15,616) 17741 200,481 211 1,853 60 1,793 238,389 5,789 (20,0621 113,824) 210,292 Previous year: At 1 January 2023 Incoming resources Resources expended Transfers At31 December 2023 Love Gifts & Mission Fund Other Specified Fund Church Property & Building Fund New Wine Fund 8,606 4,454 18,114 1,751 (42,453) 15151 31,350 15,617 5,690 232,202 2,000 (16,105) (1,015) 216,097 985 247,262 19,865 (60,088) 31,350 238,389 The Love Gifts, Specific Gifts and Other Specified Funds receive and disburse 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 Ilfracombe BC fund were created in 2019 for specific giving. -20-
CREECH ST MICHAEL BAPTIST CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 16 Unrestrlcted funds - deslgnated 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 2024 Incoming resources Resources expended Transfers At31 December 2024 Youth fund Fellowship fund Outreach life cafe Outreachllocal mission fund Mission 1,793 535 4,303 19,973 11,793) 13401 (20,7731 13,6541 (40,741) 195 4,249 23,809 15,300 20,719 17 749 7,473 55,292 26,604 21,485 (65,5081 60,972 43,553 Prevlous year: At 1 January 2023 Incomlng resources Resources expended Transfers At31 December 2023 Youth fund Fellowship fund Outreach life cafe Outreachllocal mission fund 1,793 123 2,297 17,830 1,793 535 4,303 19,973 4,802 19,062 669 14,3901 (17,0561 14,7961 6,270 22,043 24,533 126,2421 6,270 26,604 The Outreach and Mission Funds receive and disburse specified proportions of unspecified offerings received including tax recoverable. The proportions for the current year amounted lo 3 % for Oulreach12023.' 3 % l and 15 % for Mission12023'. 150/0}. Th8 Youth Fund rec8ives amounts given to support Youth activities and those families working with young people in Ihe 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. 21
CREECH ST MICHAEL BAPTIST CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 17 Unrestrlcted 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 January 2024 Incoming resources Resources expended Transfers At31 December 2024 General funds 62,314 282,147 (226,0281 147,148) 71,285 Previous year: At 1 January 2023 Incoming resources Resources expended Transfers At31 December 2023 General funds 76,449 237,670 (214,1851 137,620) 62,314 18 Analysls of net assets between funds Unrestrlcted Unrestrlcted funds funds general designated 2024 2024 Restrlcted funds Total 2024 2024 Fund balances at 31 December 2024 are represented by: Tangible assets 824 Current assetsl(liabilities) 70,461 200,542 9,750 201,366 123,764 43,553 71,285 43,553 210,292 325,130 Unrestrlcted Unrestrlcted funds funds general designated 2023 2023 Restrlcted funds Total 2023 2023 Fund balances at 31 December 2023 are represented by: Tangible assets Current assetsl{liabilities) 216,157 22,232 216,157 111,150 62,314 26,604 62,314 26,604 238,389 327,307 -22-
CREECH ST MICHAEL BAPTIST CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 19 Related party transactlons Transactlons wlth related partles At 31 December 2024, the charity was owed £5,000 from the trustees (2023 - £5,000). This loan is interest free. 20 Cash generated froml(absorbed by) operations 2024 2023 Deficit for the year 12,177) 118,4471 Adjustments for: Investment income recognised in statement of financial activities Depreciation and impairment of tangible fixed assets 11,565) 15,646 19171 16,201 Movements in working capital: Ilncreasel in debtors IDecrease)lincrease in creditors 11,675) (905) 1551) 2,914 Cash generated froml(absorbed by) operatlons 9,324 18001 21 Analysls of changes In net funds The church had no material debt during the year. -23-