Tabernacle Baptist Church Annual Report Year ended 31 December 2024 Registered Address Plassey Street, Penarth, CF64 1 EN Charity Registrabon Number 1133948 ANNUAL REPORT FOR 2024 Trustees Rev. Dawd Lleweltyn Mrs Sarah Taylor (Church SecretarylElder- eed 19:, May 2025) Mr Nigel Jones (Elder- elected 191h May 2025) Mrs Ann Niblett (End of temi 191h May 2025) Mr Peter Robertson Fnd of term 191h May 20251 Ms Dorothy Evans Mr Jonathan Morse (freasurer) Mr Dawd Meadows (Elder ) Ms Angela Buckley Mr William Roberts Mrs Cathenne B¢)ume (Elder) Mr Muda Ayoola (elected 251h November 2024) Ms Sarn Redr0d (elected 25:, Novembèr 2024) The Trustees present their Annual Report and FinancAal Statements for 2024. CHARITABLE OBJECTIVE The charitable objects.ve is govemed by a constituts'on )knich states that the prinapa purpose of the charity is the advancernent of the Christsan faith according to the prinaples of the Baptsst denominabon to include the adVanrnent of education, community service and such other general charitable purpose5 in the United Kingdorn and the world. The church occupies premises which are held by the Baptist Union corporats.on Limited on trust which are entsrely compats'ble with the above objecL Property Trustees The Baptist Union Corporation Limited Baptist House 129 Broadway Didco( Oxfordshire ORGANISATIONAL STRUCTURE DECISION MAKING PROCESSES Members of the thufch are accepted in accordance with the constitub'on whith requires them to be or have been publidy bapb'sed on profession of their faith in Jesus Christ, or following other modes of baptism based on their own public profession of faith. The mernber5' meeti'ng normally take place six times a year and has SpOnsIbl11ty for the over811 poliry of the churth. The members have appointed one property trustee (In addition to the Baptist Union Corporab'on Limited) to oversee property matters. The minister. church Sectary, treasurer, and eight others (who are all appointed by the memb8rs>, and colledively known as The Leadership Counal, are responsible for the day- to-day running of the churth's work and witness, and the financial and legal aspects of the charity. All members are encouraged to take an appropnate part in the spintual and practscal tasks involved In the furtheran of the charitable objective. AND Mr Graham Niblett Bankers Bardays Bank IndeperHlent Examiner Gordon Down and Company 144 Walter Road Swansea SA15RW
Tabernacle Baptist Church Annual Report Year ended 31 December 2024 The churth runs various events for children and Relevant matters may be Submitted to the church young people throughout the week. The church meeting by the trustees for guidance. or may be operates systems to ensure that all people raised by members in thurch meeting for further working with thildren and adults at nsk are consideratson by the trustees. Though the apprOFatelY vetted with ba<ground checks and constitution permits decJstons to be made at references (DBS>. The building is also used trom church meetings by appropriate majorities, the time-to-time by outside groups who require a church seeks to work by consensus WheVer meeting space. We offer this facility wthout possible. charge to non-profit cornmunity groups, but often OBJECTIVES AND ACThIITIES receive voluntary donab.ons from them. Several new groups commenced dunng the year Sn order to achieve the principal objectsve which Tiddlers at Tabs, for pre-school tots and their is set out above, the churth provides a variety of carers. a men's Indoor Games aftemoon and a athties both to its membership and to the Coffee&Craftaftemoon. community generally. The purpose is to reflect the love of Jesus Christ in both word and deed in ACHIEVEMENTS AND PERFORMANCE our church. community and world with the desi It has been encouraging to see new faces in of bnnging people into a doser relab'onship with church and welcome back old fn"ends, That said, Jesus Chnst as Lord. Central to the work and the churth does not measure the success of its witness of the church is the provision of regular ministry only in numbers. induding ffinanaal public seNces of Chrisban worship. These numbers. Spiritual formats'on, fellowship and ServIS take pla eath Sunday at 10.30 a.m. ser¥ice are all key indicators. but the trustees Prayer is ntral to the life of the church. There recognise that these are drfficult to measure. a wular opportunities for the church to pray During 2024 we had 13 people join our throughout the week induding a time known as membership. The overall membership list 'The Gap, which is held on Zoom to encourage reduced as S members resigned, 3 moved away, as many as possible to participate. There a 2 died and a further 58, who had prevbously numerous meetings held on the church prernises moved away, ceased to attend, or with whom we and Mernberfs hornes throughout the week. had lost contact, were also removed. At the end Many are for the study of God's Word, prayer of the year the membership figure was 133. and pastoral ca. The thurch Seeks to be a friendly and welcoming communty, and anybody is free to attend any of the services induding those shared via YouTube. Numbers of chIldn and youth attending church during the week and on a Sunday have remained steady. We are so grateful to our committed and gifted children and youth team workers. From time-to-time the thurch runs courses in marriage preparab.on and courses for people interested in disGovering more about Chrisb'anity such as Christ'anity Explored. It also runs training evenis for church members on Safeguarding. worship leading, tech. streaming, and food hygiene. The (turch ovms a second ministy ntre at Arcot House in Penarth. Arcot House is very close to the Tabemade Church Centre and allows us to operate our foodbank and advice services effiaently Above the centre is a 4 bedroom flat, which is also ovmed by the thurch. This flat is rented out under The Homes for Ukraine scheme.
Tabernacle Baptist Church Annual Report Year ended 31 December 2024 A5 prewously mentioned, to assist members of The churd) Supports several people serving the church and wider community who a in overseas. need. the church continues to operate a food bank. which is SUPPQrted by donations from the FINANCIAL REVIEW members of Tabernade and the other local The church continues to raise the funds which It churches. Demand for fc(Id has increased needs to carry on its acti¥ities from within its own during the year, and we are gratefijl to our membership and congregats'on. No wider public partners from the Local Churthes Together appeal was made for funds during the year. Organisab'on (CYTUN) who support the project There was a reduction in offering income, due to with large donab'ons of food and with volunteers several members having passed away and several resignations, in cnmparison with 2023. The detailed financial results for the year, together with a summary of the accounling poliaes adopted are set OLrt in the accompanying Financial Statements Our member5 also serve as volunteers in other local charities and organisations. induding as school govemors, on a 'food run, to strEet homeless people in Cardiff, pnson visitors and hospital visitors. We have hvo accredited Baplist preachers and several other members who support local churches by leading and preaching at their seNices. The results show that during the year Ihere was a defi¢it on ordinary acb"vities (which are funded by unreslncted income) of £16.188. During 2024. Our church centre is used by many other groups an increase in expenditure on ordinary acb'vities in the community induding several chLyrs from of £16.389 was reported to that of 2022 (2024 - outside the church and several Guides and £202,322, 2023 - £185,933). Comparable income for the year increased by £10.588. Brownie groups. Disth'ct Nurses use the building In relats'on to the Bapb'st Union Pension Scheme, for baby dinics to meet the needs of the local Section 28.11A of FRS 102 requires agreed community. Although our premises are offered free of tharge, donations from these groups has defic4t recovery payments to be recognised as a provided an additional incorne stream. liability. The Balan Sheet lialy.lity as at 31st December 2024 is stated as £nil and the The church website may be viewed at movernent in the year of the provision is seen in the Statement of Financial Activities. ww.tsbs.church. Web traffic and downloads of The net movement of restncted fvnds in the year our publications and sermons continue to was an increase of £5,987. The majority of the increase. Close to 100C/40 of our first-time visitors ViSlt the website before attending our seNs, income was in resped of the Penarth Foodbank and we have gained a number of new members and the Gift Day, which this year was allocated to from amongst people who listen and now watch the Building Fund {80%) and a new mission our services each week online. We currently offer Appeal Fund (20¥0). Expenditure was split between the restricted funds as shown in the streamed services to those who a unable to note5 to the Financial Statements. attend in person. Grants were received from the followng.. Garfield Weston Foundation £5.000; Benefact Trust £1,750, Tatseel Trust - £2,500. SWBA - £1,200 and Vale of Glamorgan CC - £750.
Tabernacle Baptist Church Annual Report Year ended 31 December 2024 It will be observed that approximately 21 % of enable the churth to fvn(Xion effectively in the Tabemade's unrestricted e>penditure relates to coming year. staff costs. During the year, the church employed a minister in training, specialising in children and THE FUTURE youth on a part time basis. The senior minister We will continue to seek innovative ways to continues in offi. share the Gospel of Jesus Christ and so fulfil our Together with the Leadership, the staff ensure primary dlaritable purpose of advancing the the day to day running of the church premises, Christian faith according to the pnnc?ples of the lead and cx>-ordinate the thurch's activities. Bapb"st denominatson. To support this primary Prolde pastoral care for the congregatson and purpose the churth conts'nues to prioritise community and equip and encourage the education and training of the members. which is membership in their life, Christian witness and our second charitable purpose acoxding to the servicB. Churth's constrtutson. We 111 conts'nue to strive The church expresses its part in the life of the for 8xcell8nce sn our welcome and worship at wider church by making grants to local, national churth services in order to make our meetings and intemats'onal Christian organisations and attracts've both for members and those who are socielies with Christian aims and objectives not yet mernbers. All these activities will be compat.ble with the church's own charitable d1Cted towards sharing our faith with those who purpose. The detail of these G3n be seen within do not yet know Jesus as their Lord and Saviour. the notes lo the Financial Statements. The church is heavily dependent on its SIGNATUREANDDECLARATION membership working as volunteers in all aspects I dedare, in my capacity as charity trustee, that of the church's adiviti'es. many of thich run with little or no impact on the church's expenditure, The trustees have approved Ihe report above; and but nevertheless contnbute substsnts'ally to the achievements of the churth's ofyectives. Have authorised me to sign it on their behalf. The Trustees Reserves Policy states that the Trustees would normally aim to hold a minimum of £14,000 Y*ithin the deposit account. This is equivalent to approximately one month's normal Signed: expenditure. At the year-end the was a total cash balance of £132,624 (2023 . £136,042). Of Name. this amount. £26.269 are Restricted Funds and Esv. LLEUEL yrJ £54,792 are classed as Designated Funds. as shown in Nole 16 to the Finanoal Statements. Date: 30 The trustees are satisfied that the thurch nas SLrffiaent SerVeS at the balancE sheet date. together with anticipated on-goirYJ income to 2025
CHARITY REGISTRATION NUMBER: 1133948 Tabernacle Baptist Church, Penarth Unaudited Financial Statements 31 December 2024 GORDON DOWN & COMPANY LIMITED Accountants 144 Walter Road
Tabernacle Baptist Church, Penarth Financial Statements Year ended 31 December 2024 Page Independent examinerfs report to the trustees Statemenl of financial activities Statement of financial position Notes to the financial statements 4-15
Tabernacle Baptist Church, Penarth Independent Examinefs Report to the Trustees of Tabernacle Baptist Church, Penarth Year ended 31 December 2024 I wort to ts trustees on my examlrration of the firwla1 statem8nts of Taberne Baptlst c Penarth (Ihe chty.) for the year ended 31 December 2024. R•sponslbllltl8s and basls of report As ts trustees of the charity you are responsible for the preparation of the finaTh>al slatements In accordan with the requffements of tho CharitlC5 2011 ('the Act,). I rewt In respect of my examination of the chartty's finala1 statements (2rried out under sectyon 145 of the 2011 Act and in rryIng oul my examinallon I have folk)wed all the applicable Dreclion5 gtven by the Chanty CommLsSFon under section 145(5)(b) of the ACL Ind•pond•nt •xamSn•rfs stthn•nt I have completed my examination. I corKirm thal material matterJ have come lo my attenlbn In nr)ecbon with the examinalKsn gl¥ing me cause to believe Ihat in any material respw accounts'ng records were not kept in respect of th8 charity a8 wulred ty section 130 of the the finarKlal statemerrts do rK)t accord WFth those records: or the Ilnancial statements do not (x)mply with applicable requirements con(xning the fcm and Ixjntent ol accxKJnts set out in the Charities (Alnts and Reports) Regulab'ons 2LY18 other than any requirement Ihal tho acunIS give a 'lrue and fairf vlew whTrth Ss not a matter CnSered as part of an indewndent examination. I have no corKems and have come aixoss no other matler5 in connection with the examination to whith attention should be drawn in this pOrt in order to enable a prow understanding of the aCcnts to be F>hilip Harris, F.C.A. Independent Examir Gor(lon Oown & Company Limited 144 Waltw Road Swansea SA1 5RW
Tabernacle Baptist Church, Penarth Statement of Financial Activities Year ended 31 December 2024 2024 unreStried Restrrcted fun(ts fuThJs Total funds Totsi funds 2023 Income and endowments Donations and legacies Investrnent income 183,201 2,933 25,066 208,267 2.933 196.417 1,324 Total Income 186,134 25,066 211.200 187,741 Expenditure Expenditure on chaiitstle 8Ctivilies Total expenditurn 202.322 18.849 221.171 221.171 211,182 211,182 202,322 18.849 Net incomel¢loss (16.188> 6.217 {9,971) (13.441) Transfers belween funds 230 (230) Other recognised gains aTKI losses Not movement frn lunds (15.958) 5.987 (9,971) (13,441) Reconciliation ol funds Total funds Ixought forward Total funds carried forward 1.428.601 1.412.643 20,282 1,448,883 26.269 1.438.912 1,462,324 1,448,883 The slatement of financial adtvities indudes all gains and losses recognised in Ihe year. All income and expenditure derive from continuing adivities. The noies on pages 4 to 15 fonT¢ part of Ihe5e finanaal statemenis
Tabemacle Baptist Church, Penarth Statement of Financial Position 31 December 2024 2024 2023 Fixed assets Tangible [ed assets 12 1.315.159 1.315,159 Current assets Debtors Cash al bank and in hand 13 8.926 132.624 9,732 136,042 141,550 145.774 Creditots: amourts falling due wilhin one year Net current assels 14 17,797 12,050 1rJ,753 133,724 Total assets less curronl liabililies 1.438.912 1.448,883 Defined benefrt FEnsion an liabilily Net assets including definod benefft pension plan liability 15 1,438.912 1.448,883 Funds of the charity Reslrided funds 26.269 20,282 Unr6s1ricled funds.. Revalualion reserve Other unreriaed income funts 887,617 725,026 687.617 740.984 Total unrestricted funds 1.412,643 1,428,601 Total charity funds 17 1,438.912 1,448,883 These fin8nci81 statements were approved by the tard of trustees aTrJ auttK)iised for issue on 3.o.-... 2oLS, and a suned on behalf of the board by.. onathan Morse F.C.A Treasurer The rtotes on pages 4 to 15 form part of these financial statements
Tabernacle Baptist Church, Penarth Notes to the Financial Statefnents Year ended 31 Decernber 2024 Genernl frrfommtion The chaiity is a Frtlblic benefft efttity and 8 registered charity in England arKJ Wales and is unincorrA)rated. The address of the rxincipal offKe is Plassey Street. Penarth, CF64 1 EN. Statement of compliance These finanoal ernnts have b8en in (%)mrAiance vAth FRS 102. The Financial ReportirYJ S18nd8rd appllcable in the UK and the Republic of Irelanrt, Ihe Slatemerrt of Recommended Practice applicable to charities preparing Iheir accounis in accorrjance with the Financial Reporting StarKlar(l apICable in Ihe UK and Republic of Ireland f RS 102) (Charities SORP (FRS 102)) and the Charities Act 2011. Accounting policies Basis of pr•paral The financEal stalements have been prepared on the hislorical cost basis, as modified by the rev8luaiion of certain financial assets and liabilrties and investment properties me8sure(l at lalr V81ue through income or expenditure. The financi stat&Trents are wepared In sterling, which Is the fUnlOnal currew of the entity. Goirwj ¢¢M There are no material uncertaintie5 about the thaiitys abilty Io Cothinue. Judgements and key sources of elMl0 unceriairty The weparation of the financi81 slatements requffes managemeni to make judgements. e5tirnates and assumptions that affeca the OUnts rep)rted. These eimates and judgements are continually reviewed and are based on experience and Oiher fa0. indudirKJ expe(kntions of fLrture events that are betteved lo be aSOnable under the cArcumstances. Fund accounting unled funds can be used in accorfance wth the ch8ritatsle otiiea)ves a( the discretion ofthe lrnstees. Restricted funds can only be used for Stri(ed wrposes ithln the objects of the charfly. Restr110nS arise when specified by the donor or when funds are raised for restrided purposes. De$anated funds are unrestri(aed funds earniarf(eA by the trustees for 8 part¥%lar future KKoje or clMMe Further explanation of the nature and purrx)se of each fuiKI is included in the notes to the financial statements.
Tabernacle Baptist Church, Penarth Notes to the Financial Ststements Year ended 31 December 2024 AccountirvJ policies Incoming rnsources All incoming SOUT$ are include(I In the statement of finan(ial vthen entiuement has passed to the (arity.' it fts wb8ble that the econ(¥nic benefjts a&%)Laated th the trnnsaclion WIH flow lo the chaitty and the amount can be Tellably measured. The foiiowiro li(xeS a applied to parn'cular categories of incc#ne: Income from donations or grants is recognised when Ihere is evidence of enl((lement to the gift. receipt ts pmbable arNJ its amount Can be measured re&aW. legacy inc(xne Ss rewnised ¥yhen re1 is ble enlitlefflenl 15 e51abkshed. Income from donated gwjs Is measured ai the falr value of Ihe goods unless ihls ks Impra1¢81 to rneasu reliafAy. in which case the value is derived from the cost to Ihe donor of the eslimate(I iesale value. Donai&J faciliti'es aThJ services are recognised in Ihe accounts when received If the value can be retiaw measured. No Ouftts afe incaudeAI for the contrilwtion of general voluntee. Inc¢y))e fr£ LX)ntra(ts for the supply of services is recognised with tho delivery of the ¢ontraded servi. Tr#s is ¢knified as unrethided fur#Js unless ttse is a cofttradual requlrement for il to be spent on 8 Pafticular wrpose 8j return1 rf unspgnt, In case ft may be regafded as festricled. Resources exwmled ExpefKliturn is recognised on afi ac(¥uats basis as a Ilabilty is illnEd. Expendlture ifidudes any VAT which cannot be fu recovered. and is dassif•ed urwjer headings of the staiement of finan(aal acalvleS to which li rethtes: expernjiiure on raising funds indudes ihe costs of ali fUrraiSIThj acaivibes. ents. no charitatAe IradifVJ adivtties. and Ihe sale of donaled gc expenditurn on ch81i12tle 3(aiyilies indudes aJJ cos15 InoJffeiJ by a charity in undertaklThJ adivities that further ts chaiitstle ns for the benefft ( ts beneficiaries. indudirKJ those support coas and c051s la11r¥j lo the goveman(x d the (arrty aF110 to thaiiiable a(AiV.e5. other expenditure indudes all eXrlIure that is nerther related to raisiNJ funds forthe thanty nor part of ils expendilure on chantaile 8div#ies. All cOS a 811oc8ted lo expenditure categories refieding the of the res4)ur¢e. Oirei# costs attrit#Jtable lo a single adivity are auocaled diredly to that acAivty. Shared rx)sts are apportioned belween the adivies they corrtrilxrte to on a reasonable. JUlfiable cA)nsi&ent ba51& Tangible assets Freehold Fwerty is stated at cost (or deeme(I cost for larKJ and buildings at valuation at the dale of trangtion to FRS 102). The Charty weviously adopted a FK)licy of revaluing freehold land and twiklings and they are stated at their revalued arnount. The Charty adopted the trdnsition eXernptn under FRS 102 paragraph 35.10 (d) and has eleded to use the prewous revaluation as deemed c4)st. All w)rrty is stated at cost or valuation. In the ownion of the Trustees, the cost of ot48ining v81uation is noi justffied.
Tabernacle Baptist Church, Penarth Notes to the Financial Statements Year ended 31 December 2024 Accountfing polD¢ies Freehokl properties afe not deprec4ated as the Twees (a)ngder their res#lual vaue not to be materially different to Iheir cost (ordeemed Ix)st). All assets COairvJ more than £A.()0 are cawiised. At inceFthon the charity a&sess agreements that trartsfer the iYJht to use assets. The assessment considets whetIr the arfawert is. or contains, a le85e based the 5ubslance of the arrangement. Assets, otained under hire purchase contra(ts arwj finan leases. are c4pildised as tsngible fix&J assets wfien (he net PfEsent value of the lease is greater (han £4.000. Assets acquired undar finance leases are deweciated ovef the shorter of the lease temi aThl Iheir useful Ilves. Assets acquired under hire pu corrtracts are depre(iated over their seful lives. Financ£ leases are those where suatiallY a¥ of the benefits and risks of (Affttship are assumed by the company. Obligations under such agreemerrts are induded In edItorS net ol the finance charpe all(j10 future periods. The finance element of the rental payynent Chaed to Ihe profrt a1 loss account so asio woduce a ¢X)nant riOdiC rate of charge on the nei oblylion Outsta1&) in eacth Rentds applicable to opefalir¥J kases re substantially all of the benefits and risks of 0er51P remain the lessor are Char lo prDfft and loss account on a strighl Ine basi& Taxion The chaiity is exemo from tax on Its ch8thatAe acafvlies. lffecoverable VAT is charged Again¥1 the expendilure heading for which il vras Incurred. Financial insln411orts A f5nancial asset or a financjal liatAlity is rewnised only vthen the entity becomes 8 party to the contraclual provisions of the instrument. Basic financial Instrumerrts are inllially recognised al the amount recivatle or payable induding any laled transaclion unless Ihe arrangement constitutes a finanang transaclion, where11 is recognised at the FKesent value of the future paYmts disc¢)unted at a rnathet rate of intere for a siffular debt irtstnnnent. Current assets and current riabilities a subsequenlty measured at the cash or other consideration expeded to be pama or receNed and not discounted.
Tabernacle Baptist Church, Penarth Notes to the Financial Statements (¢rythmdJ Year ended 31 December 2024 Donions and legacies Unrestricted Funds Restricted Toial Funds Funds 2024 OfferiThJs T&x fUnts Other donions 92.201 16.083 20,700 93,235 16.530 43,535 22,835 Grants Grdnts reIvaN8 10.450 750 11.200 other donations and legacles Use of buildings and legacies 43.767 183.201 43,787 25.C 208.267 unstricted Funds Restricaed Total Funds Funts 2023 Don103 Offerirys Tax refunds Oiher donations 104,017 18.635 7.679 2.105 1.928 19,771 106,122 18,563 27.450 Grdnts Grants receivable Other doltIonS and legacie• Use of and legacies 44.282 44.282 172,613 23.804 196,417 Inveslment income Unrestri(aed Total Funqts Unresiricaed Total Funds Funts 2024 Funts 2023 Bank intelest recwvable 2.933 1,324 1.324
Tabernacle Baptist Church, Penarth Notes to the Financlal Statements Year ended 31 December 2024 Exp8nditure on charitable activities by fund type Unresiricled Funds Restricte4J Total Fd$ Funds 2024 Ministry Esiablishment Mission Support costs 67,122 103,122 16.296 15,782 1,350 68,472 103,122 33,795 15,782 221,171 17.499 202,322 18,849 Unrestricted Funds Restricted Total Funds Fur 2023 Ministry Establishment Mission Support costs 61,079 Tl.130 30,773 16,951 185.933 3.849 64,928 77.130 52,173 16,951 211,182 21,400 25.249 EX•1• on chariiabl• a1VIlla8 by activity typ• Aciivtt(es undertaken Grani fundirvJ diredly of adivities Suprmxt costs Total funds 2024 Total fund 2023 Mini Establishrnent Mission 68.472 103.122 24.395 7.950 6.168 1,e64 76.422 109,2 35.459 72.030 83.477 55,675 211.182 9.4(• 9,400 195.989 15,782 221.171 Analysis of support costs Total 2024 Total 2023 Church office Comrnunications and IT Printing and copier chaffJes Finance costs Other support co&s Refreshmènts 1.264 7.563 1,135 2.187 1,805 1,828 3.015 6,045 1,308 2.091 1.721 2.771 16.951 15,782
Tabernacle Baptist Church, Penarth Notes to the Financial Statements (c(¥thv•dJ Year ended 31 December 2024 Analysis of grants 2024 2023 Grants to inslitulions Baptisl Union Home Misslon BMS World Mission 11.000 13.000 9.400 Totsl grants 9,400 24.000 10. Staff costs The tolal si8ff costs and emrAoyee benefils for the reporting pefiod S anatysed as follows: 2024 W8ge5 and $818ries Social securlly Gosts other pension co&s - defined benefit other pension costs - define(I contribullon 41,350 34,450 10 2.038 43.398 12 1.722 36.184 The 8verage rnonthly number of em#oyees duriThJ the year was as ftIIcMs: 2024 2023 Number of aaff - mlnistry The iotal employThenl l)eneffts ot Ihe key management personnel re £59.822 (2023: £52,452). These (#s con& of gross pay. emrAoyerfs national iwrance, emkoyefs pension. certain utlities and rent in relatlon to the Mlnister.
Tabernacle Baptist Church, Penarth Notes to the Financial Statements Year ended 31 December 2024 11. Trustee [eMwratIOn and expenses Apart from the ministers there was no trustees, remuneralion or other tsneffts ts the year ended 31 December 2024 nor for the year ende(J 31 Oecember 2023, There were no trustees. expenses pald for or vrdived ft)r the year ended 31 December 2024 nor for the year ended 31 December 2023. Trustees. Payments ThrOhOlrt the year payments totalirYJ £1,135 for wintir¥J and copyiffj serves re mJe io Mr Grdham Niblett. spouse of Mrs Ann Nlblett. 8 trustee. These payments We agreed In 8Ctordan with the ch8Tlty's consiituiion. The Minister a(ts as one of the church's ttee$ In acconlance the Consiitulion and rece6ved remuneraiion of £37.178 and other beneffts in respect rf his servtis as Minister. indudirvJ the provisSon of ffAnse aCcoMm10n rented ty the cburch Imm Ihe Mlnisler and hls spouse. Trust•e's Don*fvx AN donations glfted vla trustees are gifled In their capacity Church membef5. Some donations are gifted on an anonymous basis via church offeriNJs and therefore no record is Maintained. The Tfuslees have confimed Ihai these will be minimal In nature. Donations via envelopes and standiNJ 0ets for the year ende£l 31 December 2024 arnoued to £10.001 (2023 - £10.334). 12. Tangibbe fixed assets Fmhold property Cost At 1 January 2024 and 31 December 2024 DepCiation At I thuary 2024 and 31 DK•mb•r 2024 Carrying amount At 31 December 2024 1.315.159 1.315.159 Al 31 De¢ber 2023 1.315.159 TansMbl• fixed assets held at valuatlon The Chanty applied the transltional arTaThJemènts of Section 35 FRS 102 and used a prev10$ valuation as the deemed cosl of certain freehold properties. 10
Tabernacle Baptist Church, Penarth Notes to the Financial Statements (cw**u• Year ended 31 December 2024 12. Tangible fixed assets held at valuatbon In res[% of tsNJible fixed assets held at V81uation. the aggregale cosi. deptecaats.on and comparable carryiro amount Ihat would have been recognised rflhe assets had been carried urKler the historical cosl rnodel are a5 follo Freehold property At 31 December 2024 Aggregate cost Aggregate derKecialion Carrylng value 535.159 535.159 Al 31 December 2023 Aggregate cosl Agoregate deweciation Canying value 535.159 535.159 13. Debtors 2024 2023 Other detrtors 8.926 9,732 9,732 8.926 14. Crnditors: amounts falling due within one y•ar 2024 2023 Accruals and deferred income 17.797 17.797 12.050 12,050 16. Pensions and other post retirnment benefrts The church is a partiCaP8tlng emF4oyer in the BaOisl Pension Scheme nhe Schemel. which is a separate le9al enlrty athinistered ty Ihe Pension Trustee (BaMtsI Pension Tn1 Limrfed). The asseis of the scheme are hekl separalely from those of the EM0yer and the olher partiapalirvj em 0YerS. The Scheme. Fmiously known as the BaFrtisl Minisie, Penston FurKI. aarted in 1925. was close(1 to future accrnal of defined beneffts on 31 Decernber 2011. Prior to Ihis date the main b8nerrt FKovNJed through the Defined 8enefft (DB) Plan was a pension of one eightielh of final Minimum Pensionable Income for each ye8r of pensionatle service t(Wher with additbonal pension in respect of wemiums paid on Pensionable Income in excess of Minrnum Pensionaf Income.
Tabernacle Baptist Church. Penarth Notes to the Financial Statements Year ended 31 December 2024 15. Pensions and other post rEtirement benefits fctyrtlftu•dl From January 2012. pension wision is being m•Je through the Defin&J Contsibution (DC) Plan within the Scheme. In general. membets pay 8% of their Pensionable Incnme and ernployerys pay 6% of members. Pensionable Inc(xme into inthvidual pension ac£ounts, which are operdted a1 managed on behalf ol the Pension TnJsÈee by BToadsione Corporate Benefrts thited. In ad(Jition, the ernployer pays a further 4% of Pensionable Income lo cover Death in see Benefits. adffnnistration costs. and an assoclate(J insurance policy which provxles income PWDtedion for Scheme membefs rf Ihey are unable to Wofk due to long-temi incapacity. This income protection policy has been insured by the 88Ptlsl Union of Great 8fitain with Aviva Limrted. Membef5 of Ihe Basic Sedion pay reduced coniributions of 5% of Pensionable Income. and Iheir ernploye atso P8y a total of 5%. In Oriober 2024. the insurance company Just Group comrlete(l a Ixry out of the ll8tmht of the dosed defined benefft scheme. FrrKn thal date any remaining liability of Ihe part•iipatiNJ stheme merntHs to defined benefft scheme ceased aThJ the £1 per month defidi contributions payable by the participating emFdoyers whith were agreed in the recovery Fan approved in August 2022 also ceased from that date. AdminiStrion of the clowj definwj benefft scheme transferred from the pension truslees to JUSI Group from thal dale. The Min¢ers are elltA6 to join the Scheme. 12
Tabernacle Baptist Church, Penarth Notes to the Financial Statements (¢oth Year ended 31 December 2024 16. Analysis ol Charita* f)dS Unrestricted funds At Gains and 1 Jan 2024 Inc(Yne Expendfture Transfers losses 31 Dec 2024 General Fund 653.094 166.127 (149,017) 30 670,234 DesIgnal1 Funds - Buildings Mainienance - Cc¥nmunity Events - Legacy 67.785 9.250 4,257 15,848 10,757 (44.868) 32,167 4.257 18.368 (8.43n 200 Revaluation rnserve 687,617 1,428,601 186.134 1202,322) 687,617 1,412,643 Al 1 Jan 2023 IncTh ExperKliture Tr8nsfe Gains arKI losses 31 OK 2023 General Fund 676,880 1n,937 (162,723) (35,000) 853,094 Designated Funds - Buildings MainienanL - Community Events - Legacy 49,434 4,257 16,508 (22.550) 40,921 67.785 4.257 15.848 (860) Rev81uthion reserve 687,617 687,617 1.434.676 173.937 (185.933) 5,921 1,428.e01 The despJnated funds are io be utiltsed as folltrws.. Buildirwjs Maintenance suff6 set aside for mainlenance of the church Iwildiws Community Events to furMI communily Outreach Legacy lo be Spe at Ihe discretion of Ihe Le8dershSp. The followiw sources of grant inc(Kne were received during Ihe year. Garfield Westfiekl FourKl4tion £5,000 to be spenl on a replacnent boiler Benefad Trust £1,750 to be spent on roofiro and lated repairs Tabeel Tn £2.500 to be spent on training of new Minister 13
Tabernacle Baptist Church, Penarth Notes to the Financial Statements l¢w Year ended 31 December 2024 16. Analysis of chaiitsbk Reslricted funds Al 1 Jan 2024 Gains arKI losses 34 Dec 2024 Income Expenditure Transfe CHYP Furll 434 FurKI Tabs rdIerS Ladies Eveni Fellowship Penarth Foodbank Womens. Hour Gift Day 2024 Buildings Maintenance 3,537 5.814 12.385) (1.350) (164) 4,818 542 (30) 158 554 (584) 128 J0210 557 ()3,829> (53n 6.050 10.155 10,155 20,282 25,lJ66 (18.849) (230) 26.269 Al 1 Jan 2023 Gains and losses 31 Oec 2Lr23 IncA)me EX[ditUre Trartsfers CHYP Fur¥A 434 Fund Minislry Gi Lwjies Allemoon Feuowship Penarth Foodbank Womens. Hour Gift Day 2023 3uddings Maintenance 3.763 8.764 1.929 4.370 {4.596) (2,950) (3.849) 3,537 5,814 182 578 (602) 158 12,517 487 8.428 613 7.895 (10,735) <$43) {1.974) 10,210 557 (5,921) 27,848 23,804 (25,249) (5.921> 20.282 The Str1ded funds are to be used as lotloyts.. CHYP Fund to be spent on youth items 434 Fund to meet the relevant financial needs of w*rnL Building Maintenance for buikling mairtenance Ladies Aftemoon Fellowship for fhyn use a1 distr1ttIOn to other charities Women's Hour for own use aThJ distribjtion to other chaiities Penarth Foodbank donations to be uttlised in relation to Ihe Penarth Foodbank Gifl Day 2024 Buildiw Fund 80% and new Mission Appeal Fund 20%. 14
Tabernacle Baptist Church, Penarth Notes to the Financial Statements (¢ Year ended 31 December 2024 1 T. Analysis of net assets between funds Unrestrided ReICed Total Funds Funds FuThJs 2024 TafyJible fLxed assets Currenl assets Credrtors less than 1 year 1.315.159 115.281 .{17.797) 1.412,643 1.315.159 141.550 {17,797) 1,438.912 28,289 26.269 Unrestrioled Restricted Total Funds Funds Fun(Is 2023 Tanglble fixed assets Currenl asseis credito less than 1 year 1.315.159 125,492 (12.050) 1,428,601 1.315,159 145,774 (12.050) 1,448,883 20.282 20,282 18. Related parl*s The CuStlIan Trustee of the Church is the Union Corporalion Limi11. charty nber 249635. which is controlled by the 88plist Union Council. The ChUh Is also a memlxr of the Ba"s1 UThon of Greal 8ntain aThl the Soulh Wales Baptist Association. The church has made donations to BMS Workl Mlsslon as set out in note 9. The church (ecelved a grant rf £1.200 from The South Wales Bartst A&socAation. In additlon to the 8apttst Corporalion Lwrxted, Mr G Nitlett is 8 privale Trustees of the church.
Tabernacle Baptist Church, Penarth Independent Examinerfs Report to th8 Trustees of Tabemacle Baptist Church, Penarth Year ended 31 December 2024 I report to th8 trustees on my examination of thv flnancial statements Tabwnacle Baptist Chiir¢h. Penarth nhe chartty? for the year ended 31 Dernber 2024. Re5pon8lbiliti¢s and basls of rewi AS the trustees of the chanty you are pOnSIble for the preparatk)n of the finarK>al statements in accordance the requtrement5 of the Charities 20111.the Acr). I rewt in respect of my examination of Ihe charws financial statements carried (xrt UfKler sectian 145 of the 2011 Art and in carying out my examinalion I have followed all the aFplkabte Dlreclions grven by th8 crity Commlsslon ur)der seaion 14q5Xbl of the Act. Indopondont eMmln•rfg stat•m•nt I have caympleled my examination. I confwm that no malerial matters have come to my •Uon in connection with examination gsvlng me causo to bdleve tIAt in any matertal speCt accounlng ree(Kds were roI kept in respect of the charity as requ5red by se(ion 130 of the fIrn¢la1 ststemerrts do with those rec¢Yds: ( the finaral statements do not c4)mply with the appIa requirements concemlng the fomi and IxThtent of acwjnts set out in the Chan"tie5 (A(oUnts and Reports) Regulations 2008 other than any requirement Ihat the accounts give a Yrue and farf vl8W Wtjich Is rbot a matter nsidered as of an independent examinatK)n. I have no corr£ms and have come a(xoss rK) other matters in conneckn'on the &Yamination trj which attentk)n Shou be drawn In this repwt In (Kder to enable a woper understandiNJ of the accounts to be reathed. Phtlip Harrfs. F,C.A. IrKlependent Examin¥ Gordon DM & Company Limited 144 wall Road Swansea SA1 5RWV