2025-12-31-accounts

Tabernacle Baptist Church Annual Report Year ended 31 December 2025 Registered Address Plassey Street, Penarth, CF64 1 EN Charity Registration Number 1133948 ANNUAL REPORT FOR 2025 The Trustees present their Annual Report and Financtal Statements for 2025.. Trustees Rev. David Llewellyn Mrs Sarah Taylor (Church secre￿ry￿1der) Mr Nigel Jones (Elder) Mr Peter Robertson (Deac¥)n- apFM)frtgJ 18th May 2026) Ms Dorothy Evans Mr Jonathan Morse (Treasurer) Mr David Meadows (Elder ) Ms Angela Bud(ley (End of tem- 18° May 2026) Mr William Roberts (End ￿ temi - 18° May 2026) Mrs Catherine Boume (Elder- end of term- 18 May 2026) Mr Muda Ayoola (resigned- 18th May 2026) Ms Sara Redwood {resign8d November 2025) Mr Sam Whitmarsh (Elder- appointed 18" May 2026) Mr Gareth ShNbsote (Deac¢Jn- appointed 18th 2026) Mrs Michelle Carwardine-Palmer (Deau)n- appointed 18th May 2026) Mrs Diane Finney {Deacon- appoirrted 18 May 2026) CHARITABLE OBJECTIVE The tharitable obJ"ective is govemed by a constiiution which states that the principal purpose of the tharity is the adVan￿rnent of the Christian farth according to the principles of the Baptist denomination to include the advanoment of education, community Servi￿ and such other general tharitable wrposes in the United Kjngdom arKI the thorld. The thurth (xcupies premises which are held by the Baptist Union Corporation Limrted on trust ich are entirely compatible with the above objecL ORGANISATIONAL STRUCTURE DECISION MAKING PROCESSES Members of the church are a￿pted in accordarK£ With the constitution which requires them to be or have been publidy baptised on profession of their faith in Jesus Christ. or following other modes of baptism based on their own public profession of faith. The members. meeting normally take plac8 SIX times a year and has responsibility for the overall policy of the church. The members have appointed one property trustee (in addition to the Baptist Union Corporation Limited) to oversee propety matters. The minister, church secretary, treasurer. and eight others (who are all aFpointed by the members), aryj colledively known as The Leadership CouncAI, are responsible for the day- t(Hlay rlnning of the church's work and witness, and the financial and legal aspects of the charity. All ffEmbers are encourag￿￿ to take an approwiate part in the spiritual and practical tasks involved in the furtheran￿ of the charitable objective. AND Property Trustees The Baptist Union Cor￿ratIOn Limited Baptist House 129 Broadway Didcot, Oxfordshire Mr Graham Niblett Bankers Barclays Bank Independent Examiner Gordon Down and Company 144 Walter Road Swansea SA1 5RW

Tabernacle Baptist Church Annual Report Year ended 31 December 2025 Relevant matters may be submitted to the chwch The churth runs various ev￿tS for children and meeting by the trustees for guidance, u may be young people throughout the week. The church raised by members in church meeting for further operates systems to ensure that all people consideration by the trustees. Though the working with thildren and adults at risk are constitLrtion pennits decisions to be made at approwiately vetted with background checks and church meetings by appropriate majorities, the references (DBS). The building is also used from church seeks to work by consensus wherever tim&t(Ftime by outside groups who require a possible. meeting spa￿. We offer this facility without OBJECTIVES AND ACTIVITIES charge to noryrofit cornmunity groups, but often In order to athieve the prinopal obJ"ective which re￿Ne voluntary donations from them. is set out above, the churth provides a variety of Several new groups commenced in 2024 have activities both to rts membership to the continued this year. fiddlers at Tabs, for pre- community generally. Tha purpose is to refle( school tots and their carers, a men's Indoor th8 love of Jesus Christ in both wcKd and deed in Games aftemoon and a Coffee & Craft our church, cx>mmunity and world with the desire aftern￿n. of bringing people into a doser relationship with Jesus Christ as Lord. Central to the work and witness of the church is the provision of regular public services of Christian worship. These ServI￿S take pla￿ eath Sunday at 10.30 a.m. and monthly at 6:00 p.m. ACHIEVEMENTS AND PERFORMANCE It has been encouraging to see new faces in church and welcome back old friends. That said, the churth does not measure the success of its ministry only in numbers, induding financial numters. Spiritual formation. fe110v￿hIp and Prayer is central to the lrfe of the thurch. There Servi￿ are all key indicators. but the trustees are regular opportunities for the churth to pray recognise that these are difficult to measure. throughout the week indLNJing a lime known as During 2025 we had 9 people join our 'The Gap, which is held on Zoom to encourage membership. The overall membership list as many as possible to parh'cipate. TtEre are reduced as 12 members no longer attended and numerous meetings held on the church premises 2 moved away. At the end of the year the and Memberfs homes throughout the week rnembership figure was 129. Many are for the study of God's Word, prayer and pastoral care. The thurth seeks to be a Numbers of chiklren and youth attending church friendly arKI welcoming communty. and anytM)dy during the week and on a Sunday have remained is free to attend any of the ser41￿S induding steady. We are so grateful to our committed and those shared via YouTube. gifted children and ycKrth team workers. From time-to-time the church runs courses in The churth owns a second ministy centre at marriage preparation and courses for people Arcot House in Penarth. Arcot House is very interested in discovering more about Christianity close to the Tabemade Church Centre and such as Christianity Explored. It also runs allows us to operate our foodbank and advi training events for church members on servi￿$ efficienuy. Above the centre is a 4 Safeguarding, worship leading, tech, strearning. bedrwm flat, which is also owned by the thurch. and food hygiene. This flat is rented out under The Homes for Ukraine scheme.

Tabernacle Baptist Church Annual Report Year ended 31 December 2025 FINANCIAL REVIEW As previously mentioned. to assist mernbers of The thurth ￿ntinUeS to raise the funds which it the church arKI wider community who are in needs to carry on tts activities from within its own need, the church continues to operate a food membership and congregation. No wider public bank, which is supported by dcH)ations from the appeal was made for fvnds during the year. members of Tabernade and the other local There was an increase in offering income, mainly churches. Demand for fcThl has increased due to an increase in membership and regular during the year, and we are grateful to our "attendees. in comparisonwith2024. partners from the Local Churches Together Organisation [c￿uN) who support The detailed finanaal results for the yaar, with large donations of food and with volunteers together with a summary of the accounting poliaes knpted are set (yjt in the accompanying Firkqnoal Statements We have two accredited Baptist preachers arKI several other members who support local churches by leading and preaching at their servI￿s. The results show that during the year there was a deficrt on ordinary activities (which are funded by unrestricted income) of £22.843. During 2025, an increase in expenditure on ordinary activities of £10,940 was reported to that of 2024 (2025 - £213,262, 2024 - £202,322). Comparable income for the year in(xeased by £4,285. Our churth centre is used by many other groups in the community induding ￿Veral choirs from outside the churth and several Guides and Brownie groups. District Nurses use the building for baby clinics to meet the needs of the local community. Although our premises are Off￿ed free of charge, donatiOr￿ from these groups has provided an additional income stream. The net movement of restricted funds in the year was a dec￿ase of £7,209. The majority of the income was in respect of the Penarth F￿dbank and the Gift Day, which this year was allocated to the Building Fund (800kn) and a new mission ApFeal Fund (20%). Expenditure VRS split between the restricted funds as shown in the notes to the Financial Statements. Grants were received from the following: Glamorgan Voluntary servI￿s £2,722,. Welsh Churth Ac* FurKI - £2,480" Wales Council for volunt￿ Action - £1.0(K);Tabeel Trust- £7,lJ)J., The church website may be viewed at www.tabs.church. Web traffic and downloads of our publicats'ons and sermons continue to increase. Close to 1 c￿￿ of our first4ime visitfNS visit the website before attending our serVi￿s, and we have gained a number of new members from amongst people who listen and rKJw watch our ServI￿S each week online. We cu￿entlY offer streamed services to those who are unable to attend in person. It will be observed that approximately 26Dh of Tabemade's unrestncted expenditure relates to staff costs. Dunng the year, the church employed a minister in training, specialising in children and youth on a part ts'me basis. The senior minister continues in offi￿. Together wtth the Leadership, Ihe staff ensure the day to day running of the church premises, lead and cO￿rdinate the church's activities, provide pastoral care for the congregation and The church supports several people serving overseas.

Tabernacle Baptist Church Annu Report Year ended 31 Decenkn 2025 community and equip arKI encourage the THEFUTURE membership in their lrfe, Christian witn￿￿ arKI We will continu8 to seek inrK)vative ways to servi￿. share the Gospel of Jesus Christ and so fulfil our The churth expresses its part in the lrfe of the primary charitable purpose of advancing the wider thurch by making grants to local, national Christian faith acojrding to the princAples of the and international Christian organisations and Baptist denomination. To support this primary societies with Christian aims and objectives purpose the churth continues to prioritise compatible With the church's 0￿￿ charitable purpose. The detail of these can be seen within education and training of the members, which is the notes to the Financial Statements. our second charttable purpose according to the Church's consb'tutton. We continue to strive The church is trEavily dependent on its for excellence in our welcome and worship at membership W0￿.ng as volunteers in all aS￿￿￿S church ServI￿S in order to make our meetings of the church's activities. many of which run with attractive both for members and those who are little or no impact on the church's expenditure, not yet members. All these activities will be but nevertheless contribute substantially to ts directed towards sharing our faith with thosé who achievements of the churth's objectives. do rKJt yet know Jesus as their Lord and Saviour. The Tnjstees Reserves Policy states that the Trustees would normally aim to hold a minimum of £20,000 within the deposit a(￿unt. This is I dedare, in my capacity as charity truste8, that: equivalent to approximately one and a half The trustees have approved the reKM)rt month's normal experKliture. At the yearnd above: there VRS a total cash balance of £97,614 (2024 Have authorised me to sign tt on their behalf. .£132,624).Of this amount, £18,560 are Restricted Funds and £24,316 are dassed as Designated Funds, as shown in Note 16 to the Financial Statements. The trustees are satisfied that the (*￿rth has Signed: SLfficient reserves at the balants sheet date, together wth anticipated on-goirg inc￿le lo Name: enable the church to function effectively in the coming year. SIGNATURE AND DECLARATION Date: 2026

CHARITY REGISTRATION NUMBER: 1133948

Tabernacle Baptist Church, Penarth Unaudited Financial Statements

31 December 2025

GORDON DOWN & COMPANY LIMITED

Accountants 144 Walter Road Swansea SA1 5RW

Tabernacle Baptist Church, Penarth

Financial Statements

Year ended 31 December 2025

	Page
Independent examiner's report to the trustees	1
Statement of financial activities	2
Statement of financial position	3
Notes to the financial statements	4 - 15

Tabernacle Baptist Church, Penarth

Independent Examiner's Report to the Trustees of Tabernacle Baptist Church, Penarth

Year ended 31 December 2025

I report to the trustees on my examination of the financial statements of Tabernacle Baptist Church, Penarth ('the charity') for the year ended 31 December 2025.

Responsibilities and basis of report

As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (‘the Act’).

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

Independent examiner's statement

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

1. accounting records were not kept in respect of the charity as required by section 130 of the Act; or

2. the financial statements do not accord with those records; or

3. the financial statements do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair' view which is not a matter considered as part of an independent examination.

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 accounts to be reached.

Philip Harris, F.C.A. Independent Examiner

Gordon Down & Company Limited 144 Walter Road Swansea SA1 5RW

8 May 2026

1

Tabernacle Baptist Church, Penarth

Statement of Financial Activities

Year ended 31 December 2025

			2025		2024
		Unrestricted	Restricted
		funds	funds	Total funds	Total funds
	Note	£	£	£	£
Income and endowments
Donations and legacies	4	187,844	49,548	237,392	208,267
Investment income	5	2,575	–	2,575	2,933
		─────────	────────	─────────	─────────
Total income		190,419	49,548	239,967	211,200
		═════════	════════	═════════	═════════
Expenditure
Expenditure on charitable activities	6,7	213,262	54,260	267,522	221,171
		─────────	────────	─────────	─────────
Total expenditure		213,262	54,260	267,522	221,171
		═════════	════════	═════════	═════════
		─────────	────────	─────────	─────────
Net income/(loss)		(22,843)	(4,712)	(27,555)	(9,971)
		═════════	════════	═════════	═════════
Transfers between funds		2,997	(2,997)	–	–
Other recognised gains and losses
		-	–	-	-
		─────────	────────	─────────	─────────
Net movement in funds		(19,846)	(7,709)	(27,555)	(9,971)
Reconciliation of funds
Total funds brought forward		1,412,643	26,269	1,438,912	1,448,883
		────────────	────────	────────────	────────────
Total funds carried forward		1,392,797	18,560	1,411,357	1,438,912
		════════════	════════	════════════	════════════

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

The notes on pages 4 to 15 form part of these financial statements

2

Tabernacle Baptist Church, Penarth

Statement of Financial Position

31 December 2025

		2025	2024
	Note	£	£
Fixed assets
Tangible fixed assets	12	1,315,159	1,315,159
Current assets
Debtors	13	9,423	8,926
Cash at bank and in hand		97,614	132,624
		─────────	─────────
		107,037	141,550
Creditors: amounts falling due within one year	14	10,839	17,797
		─────────	─────────
Net current assets		96,198	123,753
		────────────	────────────
Net assets		1,411,357	1,438,912
		════════════	════════════
Funds of the charity
Restricted funds		18,560	26,269
Unrestricted funds:
Revaluation reserve		687,617	687,617
Other unrestricted income funds		705,180	725,026
		────────────	────────────
Total unrestricted funds		1,392,797	1,412,643
		────────────	────────────
		────────────	────────────
Total charity funds	17	1,411,357 ════════════	1,438,912 ════════════

These financial statements were approved by the board of trustees and authorised for issue on 8 May 2026, and are signed on behalf of the board by:

Jonathan Morse F.C.A Treasurer

The notes on pages 4 to 15 form part of these financial statements

3

Tabernacle Baptist Church, Penarth

Notes to the Financial Statements

Year ended 31 December 2025

1. General information

The charity is a public benefit entity and a registered charity in England and Wales and is unincorporated. The address of the principal office is Plassey Street, Penarth, CF64 1EN.

2. Statement of compliance

These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the 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) (Charities SORP (FRS 102)) and the Charities Act 2011.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

There are no material uncertainties about the charity's ability to continue.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for restricted purposes.

Designated funds are unrestricted funds earmarked by the trustees for a particular future project or commitment

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

4

Tabernacle Baptist Church, Penarth

Notes to the Financial Statements (continued)

Year ended 31 December 2025

3. Accounting policies (continued)

Incoming resources

All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:

• income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.

• legacy income is recognised when receipt is probable and entitlement is established.

• income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers.

• income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.

Resources expended

Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:

• expenditure on raising funds includes the costs of all fundraising activities, events, noncharitable trading activities, and the sale of donated goods.

• expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities.

• other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.

All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.

Tangible assets

Freehold property is stated at cost (or deemed cost for land and buildings at valuation at the date of transition to FRS 102). The Charity previously adopted a policy of revaluing freehold land and buildings and they are stated at their revalued amount. The Charity adopted the transition exemption under FRS 102 paragraph 35.10 (d) and has elected to use the previous revaluation as deemed cost. All property is stated at cost or valuation. In the opinion of the Trustees, the cost of obtaining valuation is not justified.

5

Tabernacle Baptist Church, Penarth

Notes to the Financial Statements (continued)

Year ended 31 December 2025

3. Accounting policies (continued)

Tangible assets (continued)

Freehold properties are not depreciated as the Trustees consider their residual value not to be materially different to their cost (or deemed cost).

All assets costing more than £4,000 are capitalised.

Leased Assets

At inception the charity assess agreements that transfer the right to use assets. The assessment considers whether the arrangement is, or contains, a lease based the substance of the arrangement.

Assets, obtained under hire purchase contracts and finance leases, are capitalised as tangible fixed assets when the net present value of the lease is greater than £4,000. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account on a straight line basis.

Taxation

The charity is exempt from tax on its charitable activities. Irrecoverable VAT is charged against the expenditure heading for which it was incurred.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted.

6

Tabernacle Baptist Church, Penarth

Notes to the Financial Statements (continued)

Year ended 31 December 2025

4. Donations and legacies

			Unrestricted	Restricted	Total Funds
			Funds	Funds	2025
			£	£	£
	Donations
	Offerings		102,810	1,179	103,989
	Tax refunds		19,961	6,124	26,085
	Other donations and legacies		10,451	29,043	39,494
	Grants
	Glamorgan Voluntary Services		-	2,722	2,722
	Tabeel Trust		7,500	7,000	14,500
	Wales Council for Voluntary Action		-	1,000	1,000
	Welsh Church Act Fund		-	2,480	2,480
	Other donations
	Use of buildings		47,122	-	47,122
			─────────	────────	─────────
			187,844	49,548	237,392
			═════════	════════	═════════
			Unrestricted	Restricted	Total Funds
			Funds	Funds	2024
			£	£	£
	Donations
	Offerings		92,201	1,034	93,235
	Tax refunds		16,083	447	16,530
	Other donations		20,700	22,835	43,535
	Grants
	Benefact Trust		1,750	-	1,750
	Garfield Weston		5,000	-	5,000
	South Wales Baptist Association		1,200	-	1,200
	Tabeel Trust		2,500	-	2,500
	Vale of Glamorgan Council		-	750	750
	Other donations and legacies
	Use of buildings and legacies		43,767	-	43,767
			─────────	────────	─────────
			183,201	25,066	208,267
			═════════	════════	═════════
5.	Investment income
		Unrestricted	Total Funds	Unrestricted	Total Funds
		Funds	2025	Funds	2024
		£	£	£	£
	Bank interest receivable	2,575	2,575	2,933	2,933
		════	════	════	════

7

Tabernacle Baptist Church, Penarth

Notes to the Financial Statements (continued)

Year ended 31 December 2025

6. Expenditure on charitable activities by fund type

	Unrestricted	Restricted	Total Funds
	Funds	Funds	2025
	£	£	£
Ministry	78,828	2,100	80,928
Establishment	102,159	32,286	134,445
Mission	20,503	19,874	40,377
Support costs	11,772	–	11,772
	─────────	────────	─────────
	213,262	54,260	267,522
	═════════	════════	═════════
	Unrestricted	Restricted	Total Funds
	Funds	Funds	2024
	£	£	£
Ministry	67,122	1,350	68,472
Establishment	103,122	-	103,122
Mission	16,296	17,499	33,795
Support costs	15,782	–	15,782
	──────────	──────────	──────────
	202,322	18,849	221,171
	══════════	══════════	══════════

7. Expenditure on charitable activities by activity type

Activities

	undertaken	Grant funding		Total funds	Total fund
	directly	of activities	Support costs	2025	2024
	£	£	£	£	£
Ministry	80,928	–	6,735	87,663	76,422
Establishment	134,445	–	4,050	138,495	109,290
Mission	30,977	9,400	987	41,364	35,459
	─────────	────────	────────	─────────	──────────
	246,350	9,400	11,772	267,522	221,171
	═════════	════════	════════	═════════	══════════

8. Analysis of support costs

	Total 2025	Total 2024
	£	£
Church office	1,476	1,264
Communications and IT	4,608	7,563
Printing and copier charges	980	1,135
Finance costs	2,391	2,187
Other support costs	1,286	1,805
Refreshments	1,031	1,828
	────────	────────
	11,772	15,782
	════════	════════

8

Tabernacle Baptist Church, Penarth

Notes to the Financial Statements (continued)

Year ended 31 December 2025

9. Analysis of grants

	2025	2024
	£	£
Grants to institutions
BMS World Mission	9,400	9,400
	────────	────────
Total grants	9,400 ════════	9,400 ════════

10. Staff costs

The total staff costs and employee benefits for the reporting period are analysed as follows:

	2025	2024
	£	£
Wages and salaries	53,228	41,350
Social security costs	-	-
Other pension costs – defined benefit	-	10
Other pension costs – defined contribution	2,661	2,038
	────────	────────
	55,889 ────────	43,398 ────────

The average monthly number of employees during the year was as follows:

	2025	2024
Number of staff - ministry	2	1
	════	════

The total employment benefits of the key management personnel were £72,263 (2024: £59,822). These costs consist of gross pay, employer’s national insurance, employer’s pension, certain utilities and rent in relation to the Minister.

No employee received total emoluments in excess of £60,000 during the year.

9

Tabernacle Baptist Church, Penarth

Notes to the Financial Statements (continued)

Year ended 31 December 2025

11. Trustee remuneration and expenses

Apart from the ministers there was no trustees' remuneration or other benefits for the year ended 31 December 2025 nor for the year ended 31 December 2024.

There were no trustees' expenses paid for or waived for the year ended 31 December 2025 nor for the year ended 31 December 2024.

Trustees' Payments

Throughout the year, payments totalling £313 for printing and copying services were made to Mr Graham Niblett, the spouse of Mrs Ann Niblett, a Trustee. Payments totalling £85 for Verse of the Year cards were made to Tom Eales, the son-in-law of Catherine Bourne, a Trustee. These payments were agreed in accordance with the charity's constitution.

The Minister acts as one of the church's trustees in accordance with the Constitution and received remuneration of £38,442 and other benefits in respect of his services as Minister, including the provision of manse accommodation rented by the church from the Minister and his spouse. The Minister in training acts as one of the church's trustees in accordance with the Constitution and received remuneration of £14,786.

Trustee's Donations

All donations gifted via trustees are gifted in their capacity as Church members. Some donations are gifted on an anonymous basis via church offerings and therefore no record is maintained. The Trustees have confirmed that these will be minimal in nature. Donations via envelopes and standing orders for the year ended 31 December 2025 amounted to £16,119 (2024 - £10,001).

12. Tangible fixed assets

Tangible fixed assets
	Freehold
	property
	£
Cost
At 1 January 2025 and 31 December 2025	1,315,159
	════════════
Depreciation
At 1 January 2025 and 31 December 2025	–
	════════════
Carrying amount
At 31 December 2025	1,315,159
	════════════
At 31 December 2024	1,315,159
	════════════

Tangible fixed assets held at valuation

The Charity applied the transitional arrangements of Section 35 FRS 102 and used a previous valuation as the deemed cost of certain freehold properties.

10

Tabernacle Baptist Church, Penarth

Notes to the Financial Statements (continued)

Year ended 31 December 2025

12. Tangible fixed assets held at valuation (continued)

In respect of tangible fixed assets held at valuation, the aggregate cost, depreciation and comparable carrying amount that would have been recognised if the assets had been carried under the historical cost model are as follows:

the historical cost model are as follows:
		Freehold
		property
		£
At 31 December 2025
Aggregate cost		535,159
Aggregate depreciation		–
		─────────
Carrying value		535,159
		═════════
At 31 December 2024
Aggregate cost		535,159
Aggregate depreciation		–
		─────────
Carrying value		535,159
		═════════
Debtors
	2025	2024
	£	£
Other debtors	9,423	8,926
	────────	───────
	9,423	8,926
	════════	═══════
Creditors: amounts falling due within one year
	2025	2024
	£	£
Accruals and deferred income	10,839	17,797
	───────	───────
	10,839	17,797
	═══════	═══════

13. Debtors

14. Creditors: amounts falling due within one year

15. Pensions and other post retirement benefits

The church is a participating employer in the Baptist Pension Scheme (“the Scheme”), which is a separate legal entity administered by the Pension Trustee (Baptist Pension Trust Limited). The assets of the scheme are held separately from those of the Employer and the other participating employers.

The Scheme, previously known as the Baptist Ministers’ Pension Fund, started in 1925, but was closed to future accrual of defined benefits on 31 December 2011. From January 2012, pension provision is being made through the Defined Contribution (DC) Plan within the Scheme. In general, members pay 8% of their Pensionable Income and employers pay 6% of members' Pensionable Income into individual pension accounts, which are operated and managed on behalf of the Pension Trustee by Broadstone Corporate Benefits Limited.

11

Tabernacle Baptist Church, Penarth

Notes to the Financial Statements (continued)

Year ended 31 December 2025

15. Pensions and other post retirement benefits (continued)

In addition, the employer pays a further 4% of Pensionable Income to cover Death in Service Benefits, administration costs, and an associated insurance policy which provides income protection for Scheme members if they are unable to work due to long-term incapacity. This income protection policy has been insured by the Baptist Union of Great Britain with Aviva Limited. Members of the Basic Section pay reduced contributions of 5% of Pensionable Income, and their employers also pay a total of 5%.

In October 2024, the insurance company Just Group completed a buyout of the liabilities of the closed defined benefit scheme. From that date any remaining liability of the participating scheme members to the defined benefit scheme ceased and the £1 per month deficit contributions payable by the participating employers which were agreed in the recovery plan approved in August 2022 also ceased from that date. Administration of the closed defined benefit scheme transferred from the pension trustees to Just Group from that date.

The Ministers are eligible to join the Scheme.

12

Tabernacle Baptist Church, Penarth

Notes to the Financial Statements (continued)

Year ended 31 December 2025

16. Analysis of charitable funds

Unrestricted funds

----- Start of picture text -----
|||||||| |---|---|---|---|---|---|---| |At|Gains and|At| |1 Jan 2025 Income Expenditure Transfers|losses|31 Dec 2025| |£|£|£|£|£|£| |General Fund|670,234 179,621|(149,487) (19,504)|-|680,864| |Designated Funds| |- Buildings Maintenance|32,167|625|(52,064)|19,272|-|-| |- Community Events|4,257|60|(43)|-|-|4,274| |- Legacies|18,368 10,013|(2,755)|(5,584)|-|20,042| |- Mission Appeal Fund|-|100|(8,913)|8,813|-|-| |Revaluation reserve|687,617|-|-|-|-|687,617| |──────────── ──────────|─────────|────|───────|────────────| |1,412,643 190,419|(213,262)|2,997|-|1,392,797| |════════════ ══════════|══════════|════|═══════|════════════| |At|Gains and|At| |1 Jan 2024 Income Expenditure Transfers|losses|31 Dec 2024| |£|£|£|£|£|£| |General Fund|653,094 166,127|(149,017)|30|-|670,234| |Designated Funds| |- Buildings Maintenance|67,785|9,250|(44,868)|-|-|32,167| |- Community Events|4,257|-|-|-|-|4,257| |- Legacies|15,848 10,757|(8,437)|200|-|18,368| |Revaluation reserve|687,617|-|-|-|-|687,617| |──────────── ──────────|─────────|────|────────|────────────| |1,428,601 186,134|(202,322)|230|-|1,412,643| |════════════ ══════════|═══════════|════|════════|════════════|

----- End of picture text -----

The designated funds are to be utilised as follows:

Buildings Maintenance sums set aside for maintenance of the church buildings Community Events to fund community outreach Legacies to be spent at the discretion of the Leadership. Mission Appeal Fund to be donated to specific Christian organisations/ individuals as agreed by members

The following source of grant income was received during the year:

Tabeel Trust £7,500 to be spent on training of new Minister

13

Tabernacle Baptist Church, Penarth

Notes to the Financial Statements (continued)

Year ended 31 December 2025

16. Analysis of charitable funds (continued)

Restricted funds

Restricted funds
	At				Gains and		At
1	Jan 2025	Income	Expenditure	Transfers	losses		31 Dec 2025
	£	£	£	£	£		£
CHYP Fund	4,818	3,616	(7,124)	(50)		–	1,260
434 Fund	4,464	200	(2,810)	–		–	1,854
Tabs Tiddlers	348	1,105	(163)	-		-	1,290
Ladies Evening
Fellowship	128	560	(434)	–		–	254
Penarth Foodbank	6,050	8,849	(7,536)	150		–	7,513
Womens’ Hour	300	566	(307)	(200)		–	359
Gift Day 2024	10,155	17,800	-	(27,955)		-	-
WCA Grant	-	2,480	(2,480)	-		-	-
WCVA Grant	-	1,000	(1,000)	-		-	-
GVS FoodbankGrant	-	1,500	(1,500)	-		-	-
GVS Electric Grant	-	1,222	(92)	-		-	1,130
Tabeel Grant	-	7,000	(2,100)	-		-	4,900
Community Room
Refurb	-	3,650	(28,714)	25,064		-	-
Buildings
Maintenance	6	-	-	(6)		–	-
	────────	────────	────────	────	────		────────
	26,269	49,548	(54,260)	(2,997)		–	18,560
	════════	════════	════════	════	════		════════
	At				Gains and		At
1	Jan 2024	Income	Expenditure	Transfers	losses		31 Dec 2024
	£	£	£	£	£		£
CHYP Fund	3,537	3,666	(2,385)	–		–	4,818
434 Fund	5,814	-	(1,350)	-		–	4,464
Tabs Tiddlers	-	542	(164)	(30)		–	348
Ladies Afternoon
Fellowship	158	554	(584)	–		–	128
Penarth
Foodbank	10,210	9,669	(13,829)	–		–	6,050
Womens’ Hour	557	480	(537)	(200)		–	300
Gift Day 2024	-	10,155	-	-		-	10,155
Buildings
Maintenance	6	-	-	–		–	6
	───────	────────	─────────	────────	────		────────
	20,282 ═══════	25,066 ════════	(18,849) ═════════	(230) ════════	– ════		26,269 ════════

The restricted funds are to be used as follows:

CHYP Fund to be spent on youth items 434 Fund to meet the relevant financial needs of members Tabeel Grant for support of Minister in Training Ladies Afternoon Fellowship for own use and distribution to other charities Women’s Hour for own use and distribution to other charities Penarth Foodbank donations to be utilised in relation to the Penarth Foodbank GVS Electric Grant support for electricity costs in the Foodbank Tabs Tiddlers for own use

14

Tabernacle Baptist Church, Penarth

Notes to the Financial Statements (continued)

Year ended 31 December 2025

17. Analysis of net assets between funds

	Unrestricted	Restricted	Total Funds
	Funds	Funds	2025
	£	£	£
Tangible fixed assets	1,315,159	–	1,315,159
Current assets	88,477	18,560	107,037
Creditors less than 1 year	.(10,839)	–	(10,839)
	────────────	────────	────────────
Net assets	1,392,797	18,560	1,411,357
	════════════	════════	════════════
	Unrestricted	Restricted	Total Funds
	Funds	Funds	2024
	£	£	£
Tangible fixed assets	1,315,159	–	1,315,159
Current assets	115,281	26,269	141,550
Creditors less than 1 year	(17,797)	–	(17,797)
	────────────	────────	────────────
Net assets	1,412,643	26,269	1,438,912
	════════════	════════	════════════

18. Related parties

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 and the South Wales Baptist Association.

The church has made donations to BMS World Mission as set out in note 9.

In addition to the Baptist Corporation Limited, Mr G Niblett is a private Trustees of the church.

15

Tabemacle Baptlst Church, Penarth Indepondent Examlnerfs Report to the Trustees of Tabernacle Bapllst Church, Penarth Yoar ended 31 December 2025 I report to the trustees on my exaMInab￿ of ts ffinar¥ia statwnents of TabemJe Baptist Church. Penarth fthe thariv) ft)r the year ended 31 D￿mber 2025. R•spon¥ibllltles and basis of report As the trustees of the charity you are resy)nsbi le for thg prep￿￿ of the fi￿ra1 ststements aCcorda￿e with the requiremwts of the Charities Act 2011 Ilhe ACY). I report in respect of my examinalth of the chariVs finarKyal statements carried under Section 145 of the 2011 Act and in Iwryir@ my examinatsrm I hav& fdl¢ywed dl the apKAicle Direction5 given by the Chartty Commisswjn under sth)n 14qSXb) ofthe A I have compsoled my examination. I that tK> Frk7terial matters have to my attention ojnnsction with the examination gNirNJ me cause to belwe that in any material reS￿L ntiro recons5 were not kept in resfv ol the chty as wuired ty sectiDn 130 of the arKJ mntent of Scy)￿nIS set in Ihe Charities (A¢￿￿nts and Retmxts) Regulations 2008 other than any requirement that the ac￿￿nts gNe a aThd fairf viaw wh￿h is a matter consklered as part of an Indepet￿nI examination. attentlon shwkl be drya•Vll in this repxxt in to eF* a tKopw urrfJw8tsnding ofts ax￿nts to i reached. Philip Hall￿. F.C. IrKlependent EKamlnor Gordon Dcwm & cc￿panY Limited 144 Walter Road Swansea SA15RW 8 May 2026