Charlty registratlon number 1136471 (England and Wales) Company registratlon number 07227205 HOLLAND ROAD BAPTIST CHURCH TRUST ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Caladine Chartered Certified Accountants
HOLLAND ROAD BAPTIST CHURCH TRUST LEGAL AND ADMINISTRATIVE INFORMATION Trustses L Lurcock S Lynch APop D Treneer S Ivalker O Wilson E Fletcher T Ison R Francis Elders D Treneor T Vellacott S Whiffield Charity number 1136471 Company number 07227205 Reglstsred offlce 6&71 Holland Road Hove East Sussex BN3 1JN Independent examlner John Caladine FCCA CTA FCIE Caladine Limited Chantry House 22 Upperton Road Eastboume East Sussex BN21 1BF Bankers National Westminster PIC Barclays Bank PIC The Cowoperative Bank Baptist Union Corporation Ltd
HOLLAND ROAD BAPTIST CHURCH TRUST CONTENTS Page Trustees, report Statement of Trustees, responsibilities Independent examinerfs report ststement of financial activitie8 ststement of financial position 10 Statement of cash flows 11 Notes to the financial statements 12-24
HOLLAND ROAD BAPTIST CHURCH TRUST TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 31 DECEMBER 2024 The Trustees present their annual report and financial statements for the year ended 31 Dember 2024. The financial ststements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the Church's trust deed, the Companies Act 2006 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 1021 (effective 1 January 2019)" Objectives and actlvitles The vision statement of the Church - We believe that God has called us to be a Church that raises th8 next generation. To achieve this end the Church is engaged in numerous activities from Sunday worship to weekday meetings catering for all ages. The Church has also undertaken several stepstone events to appeal directly to those outside the immediate membership, some of these in conjunction with other churches within Brighton. The ongoing caring for all connected with Holland Road remains a high priorty Public benefit The Trustees have pald due regard to guidance Issued by the Charity Commission In deciding what activltles the Church should undertake. Achlevements and performance Senlor Pastors Overvlew 2024 2024 wa5 8 year of multiple bereavements of long-established church members, yet in the challenges and grief, we have again seen God's faithfulness, help and encouragement. We stsrted the year with an amphasis on dlsclpleship, looking at walking "in the footsteps of Jesus" 8nd how we can grow as followers of Jesus. We ended this with a discipleship survey of the congregation, which we plan to repeat annually. We also took a different approach to our leadership training, doing three consecutive evenings in the first half of the year, again focusing on growing as emotionally healthy disciples. Al other points in the year, we looked at the Lord's prayer. slowly meditating and reflecting on each line Sunday by Sunday, then later in the year, we looked at the book of Esther, leaming how God is at work even when he is not seen or mentioned. We have seen people throughout the year come to faith, with 12 people getting baptised. It has been encouraging to see God sending new people to the congregation. We were thankful for 3 new trustees who were appointed this year as well. We have seen new community groups start and others come to an end,. overall, our number of community groups remained the same at the end of the year as it was at the beginning. God has also been so faithful in his provision, wrth both our regular giving and gifts days exceeding expectations. The rest of this report outlines many different ways lives of all different ages have been impacted, and how we have continued to help "Every generation raise the next generation. to be FREE (to be Following Jesus, Reaching Out, being an Extended Family and doing Everything in Love). We ended the year with thankfulness and praise as we celebrated the birth of Christ with a completely packed candlelight carol service. The Practical Team The team continued to offer hope and practical help to people in our Cty in 2024. The main priorities continued to 1. To serve those experfencing or in danger of belng homeless The Monday Lunch Club continues to occur virtually every Monday from 12-1 p.m. every week throughout the year. This is a place of true communty. It is also a vehicle to provide practical help such as signposting to other agencies, induding our own CAP ntre, as well as a source of grant applications, e.g Acts 435.
HOLLAND ROAD BAPTIST CHURCH TRUST TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 The team also provides donations of small furnrture items and kitchenalia to dients of St Mungo's Housing Led and Ju5tlife moving into new accommodation. We continue to offer our sitelsp8ces to frontline charities working wlth the homeless and people th no recourse to public funds. For example, CGL Smart meetings take place in the hall every Thursday and Voices In Exile regularly Uses a room to support refugees and those seeking the right to remain. 2. To help address food poverty The church continues to be an emergency food land household items) sour. This is a non-referl in case of need service. We also supplement the standard foodbank items with cooked meals made fresh and then frozen by some of our volunteer cooks. 3. Collaboratlon The Practical Team continues to seek to work with other churches and organisations in the City that try to support those in need by sharing best practices and resources to avoid unnecessary duplication. The team Continues to be active in the support of Christs'an Action Brighton (CAB) btwii .christi ctionbri We remain financial 8UPPOrters of Street Support https:Ilstreettsupport.neVbrighton-8nd-hovel For regular updates on the ongoing work of the practical team, you joln the dedicated Facebook gr¢p https:11 www.facebook.comlgroupslpracticalteam. Sundays Holland Road Kids continues to run on Sundays alongside the service, and we have an average of 2&30 chIldn coming to primary school. We continue to offer the Early Years Room for ages 2-4 and have had about 6-9 children coming along. We also have the Family Room open for those with children under 2 years old to watch the service and have tea and coffee in a more relaxed setting with toys. We have also taken the opportunity, mostly in the summer or school holidays, to run a Family Space in the hall, which is available for parents to continue to watch the livestream of the service, along with their children, in a morg relaxed anvironment when arenl wnning official children's activlties. Holiday Club We ran Showcase during the February half term on Tuesday, Wednesday and Thursday and Sunday, with over 70 children attending on each day (bar the Sunday). The highest attended day was Thursday, with 78 children, and the lowest attended day was Sunday {the final), with 31 children. We had an amazing team of volunteers, with all ages and generalions helping to serve. We had about 45 people attend the lunch after the Sunday service, and then we had a few new families come along to church in the weeks following the Holiday Club. Year 5+6 Actlvltles We run some of these Special activities for the older primary school children to help them build and strengthen their relationships with each other and the leaders. We ran a residential weekend in July to Lodge Hill with 20 children, which was the maximum number of children we could take away in the place where we stayed. We also ran a Pizza and Bowling evening in October with 12 children attending. Light Party We ran a Light Party for children in Primary School as an alternative to Halloween on 31st October. We had about 35 children attend this event. again a reduction in numbers from previous years and one to think about for next yearfs planning. Kids. Christmas Choir We offered Tuesday afternoon sessions in the run-up to the Candlelight Service, which included a time to practice the song they would be performing and some special Christmas activities such as crafts and baking.
HOLLAND ROAD BAPTIST CHURCH TRUST TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 We had 13 children slgn up for this, and about 15 children performed in the choir. The song was vThitten and led by one of our youth helpers. The Greatest Glft - Chrlstmas Event We ran a family event on 22nd December aimed at families to tell them the real Christmas story. It involved a dramatic retelling of the Nativity, which included carols and a Christmas cafe afterwards. It was attended by about 30 children and their families. Under Ss Fledgllngs We continued to run our Toddler Group, whlch is in its 3rd year. It's proven to be a popular group and has on average 15-20 families attending each week, with some regulars and also some new people each time. Messy Easter and Messy Chrlstmas We ran two special events especially for parents with children under S. which allowed them to engage with the Easter and Christm8S Stories in an interactive way. We offer a variety of crafts and activities, a chance to hear the real Easter and Christmas story, and we always provide food at the end. These are very popular, and we always have a good amount of people coming along. Youth Youth Sundays We offer a varied programme for the youth on a Sunday mornlng, whlch Includes an Interactive adult-led session in the red room, serving on a team and staying in the main service. Often, the youth are registered when they arrive in the building. regardless of the activlties they participate in during the morning. Consequently, the numbers recorded on Churchsuite may not accurately reflect the number who attend the red room session. The average attendance recorded for 2024 was 13. A number of young people serve across a variety of teams, the numbers are shown below. There are some overlaps where the same person serves on multiple teams. 8and:2 Early Years: 4 Communlon.. 1 Klds: 11 HRY (Young leaders): 4 Production: 3 Sunday moming refreshments: 4 We had 7 team members initially serving the young people on Sundays during 2024, which was reduced to 5 after the Summer term. In the Spring term, we examined stories of New Testament encounters with Jesus. We followed the semon series in the Summer term (The Lord's Prayer), and in the Autumn term, we looked at a series on parables. 4 young people were baptised in 2024. HRY We had on average 15 young people attending HRY (Holland Road Youth) each week during 2024, down from lasl year's average. Our programme remains varied, with most evenings happening in the hall but some evenings doing events out of Ihe church. including joint gatherings with other youth groups once per temi. Each evening also includes a short game or talk teaching about an aspect of faith or Christian life. The team included 7 leaders for much of the year, reduced to 6 in the late Autumn tem, and 4 young leaders.
HOLLAND ROAD BAPTIST CHURCH TRUST TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 This year, we attended May Camp over the May half term bank holiday. A team of 5 leaders took 14 young people. some for the whole weekend and some for day visits. Several of them had such transformative experiences, which led to starting conversations about baptism. Oldgr Youth There has not really been a consistent rhythm for meeting with the Older Youth as a group. Two Year Ils worked with a leader to prepare and lead a 'Going Deeper, Bible study for the rest of the Older Youth, with plans lo create a more regular rhythm for these going forward, perhaps equipping more of the Older Youth to lead them in fLrture. Youth Band The youth band has conllnued throughout 2024. The young people have led worship for the children on a Sunday moming On a month and led worship at the holiday club and family Christmas event. They also led on a Sunday moming in Ihe Summer term, supported by an established worship leader. One member of the youth band wrote and directed a Christmas song for the Kids, Choir to perfom at Christmas services. This meets every other week and contalns about 5 young people who have grown in sklll and unlty as they worship together. Mentorlng 21 young people were In mentoring relatlonships with various church members durlng this year. Mentors meet elther 1 to 1 or with a couple of young people every 4-6 weeks to chat, pray and study the Bible together. Tralning l attended a national youth training weekend with other youth workers from the city, and one church member who volunteers on the youth team. Wlder Youth Events We attended The Gathering, run by Blshop Hannington, three times over 2024, once per term. This is a gathering of around 100 young people from youth groups and churches across the city and includes social time, games, worship and a preach. Two leaders also took young people to 'Mlni May Camp, in the Autumn term., a reunion for those went to May Camp in the Summer, and another opportunity to worship together and hear a short Sermon. Thrlva Thrive is all about growth in character and skills= growih through training, growth through mission and growth through ministry. We have been thankful to have had two intems this academic year join us, focusing largely on Children's Work and Restore ministries. They are currently getting ready to visit some of our mission partners overseas in April and in July 2025, and they are undergoing theology training with Emmanuel Church. World Mlsslon 2024 In 2024, we again saw an incredible response to our World Mission Gift Day in May, totalling over £52K. This came at the end of our annual World Week, where we'd had a 24-7 prayer room set up that was fully utilised by all ages and a wide range of people from the church family. We also hosted Getinet and Rulh, partners from Ethiopia. who joined in our World Week. Idve enhanced our ability to communicate about our three priority areas by adding a descriptive line to each priorty- 1. The poorest of the poor- We seek to selve and empower those in financial, spiritual or relational poverty. 2. Places where there is no church - We partner with people on the ground to reach out to those WI may never have encountered the love of Jesus. 3. The persecuted church - We support and pray for our Christian family in places where it is dangerous to be believer.
HOLLAND ROAD BAPTIST CHURCH TRUST TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Ilve had two pastoral team visits in 2024 - a team of 4 visited partners in North Africa in March and a team of two visited partners in France in November. Flnanclal revlew There was a deficit on the unrestricted fvnds for the year of £13,019 before transfers. The balance in the unrestricted fund is £1,021,649 (2023: £1,034,668). Reserves policy The majority of the Church's funds are invested In land and buildings, which are utilised to carry out the Church's purposes. It is the policy of the Church to accumulate only an adequate level of cash and readily accessible reserves deemed sufficient to meet likely and unexpected capital expenditure needs. The Church has specifically set aside the sum of £85,000 as a reserve. Subject to any donorfs wishes, restricted funds are generally held to meet specific purposes or capital projects. Investment poliGy The majority of monies are invested In deposit accounts with recognised financial institutions. The Church seeks to obtain the highest possible returns consistent with 8 cautious attitude to risk and short term availability of such monles. Major risks Rlsk management The Church has a risk management policy. The Trustees are satisfied that appropriate systems are in place to mits'gate the Church's exposure to such risks, to safeguard the assets of the Church and should prevent andlor detect fraud and other irregularities. Structure, governance and management The Trust was formed on the 19 April 2010 and commenced activities on the 1 July 2010 with the transfer of the assets and work of Holland Road Baptist Church. The Church was founded by a trust deed dated 19 June 1889 and is now governed by its Articles ofAssociation and new constitution, 'The Goveming Document of Holland Road Baptist Church" as agreed at a Church meeting on 13 March 2013, as well as being affiliated to the Baptist Union of Great Britaln (a registered charity). The Trustees who held office durlng the year to 31 December 2024 were as follows: (Resigned 21 April 2024) D Collins L Lurcock S Lynch APop D Treneer S Walker O V4llson E Fletcher T Ison R Francis (Appointed 21 April 2024) (Appointed 21 April 2024) (Appointed 21 April 2024)
HOLLAND ROAD BAPTIST CHURCH TRUST TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR TrIE YEAR ENDED 31 DECEMBER 2024 Recniltmant and appolntment of tNste8S Deacons are Ihose whrj serve in specific leadership roles In the church and are 8ppoinled by the Trust88s as racommended by the elder8, The appOIntrnet of elders are nomlnated by the Pastor and votad on by the Church meellng. Tru8tae8 are apnted by a Church meellng. Newly appolnted Truste88 are provlded wlth 8uch Inductlon and tr81nlng 08 consldered nec8ssary for th• rola withln the church whlch they are und8rtaklng, Organl8atlon818tmcture The Church18 managed on a day to day b4515 by a CO lead8r8hip team namely Davld Treneer and Thm Vellacx)tt (the Pa8lor81 and other minlstry leadars as requlred from tlm6 to tlme 8uble¢l to tha overall Bpirltual oversight of the dders. The Trustees are jointly re8pon8lb19 for th& govemance of th8 Chuirh, e8peci8lly for th9 operatlonal. legal and financlal agpect8, referrtng 80me matters to a members vote as approprlata. Thls raport has been prgpared In accordance wh the sp8dal provislon8 ralatlng to 8mall companSes lh1n Part 15 of the Gompanie5 Act 2008, half of the board of TrLJ6tee8 Iker Trusts8 10 July 2025
HOLLAND ROAD BAPTIST CHURCH TRUST STATEMENT OF TRUSTEES. RESPONSIBILITIES FOR THE YEAR ENDED 31 DECEMBER 2024 The Trustees, who are also the directors of Holland Road Baptist Church Trust for the purpose of o)mpany law, are responsible for preparing the Trustees, Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards {Unlled Kingdom Generally Accepted Accounting Practice). Company law 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 inconiing resources and application of resources, including the income and expenditure, of the charitable company for that year. 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 UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Church will continue in operation. The Trustees are responsible for keeplng adequate accounting records that disclose with reasonable accuracy at any time the financial position of the Church and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Church and hence for taking reasonable steps for the prevention and detection of fraud and other irregulaflties.
HOLLAND ROAD BAPTIST CHURCH TRUST INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF HOLLAND ROAD BAPTIST CHURCH TRUST I rep¢Yt to the Trustees on my examinatr'on of the financial statements of Holland Road Baptist Church Trust (the Churth) for the year ended 31 December 2024. Responslbllltles and basls of report As the Trustees of the Church {and also its directors for the purposes of company lawl, you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006. Having satisfied myself that the financial statements of the Church are not required to be audited under Part 16 of the Companies Act 2006 and are eligible for independent examination, I report in respect of my examination of the Church's financial statements carried out under secticin 145 of the Charities Act 2011. In carrying out my examinats'on I have followed the Directions given by the Charity Commission under section 145{51(b) of the Charities Act2011. Independent examlnerfs statement Since the Church's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that l am qualified to undertake the examination because l am a member of the Association of Chartered Certified Accountants, which is one of the listed bodies. I have completed my examination. I confirm that no matters hav8 come to my attention in conne10n with the examinats'on giving me cause to believe that in any material respect.. 8ccounting records were not kept in respect of the Church as required by section 386 of the Companies Act 2006. the financial statements do not accord with those records; or the financial statements do not comply with the accounting requirements of section 396 of the Companies Act 2006 other than any requirement that the financial statements give a true and fair view, which is nd a matter considered as part of an independent examination; or the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accountlng and reporting by charities applicable to charities preparing their financial statements in accordance with the Financlal Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn In this report in order to enable a proper understanding of the financial statements to be reached. John Caladine ACTA FCIE Chartered Certified Accountants Caladine Limited Chantry House 22 Upperton Road Eastbourne East Sussex BN21 18F 10 July 2025
HOLLAND ROAD BAPTIST CHURCH TRUST STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2024 Unrestricted Restricted funds funds 2024 2024 Total Unrestrlcted Restricted funds funds 2023 2023 Total 2024 2023 Notes Income from: Donations and legacies Charitable activities Investments 518,827 18,062 28,213 518,827 18,062 28,213 443,722 41,691 29,116 12,000 455,722 41,691 29,116 Totsl Income 565,102 565,102 514,529 12,000 526,529 Expendlture on: Charitable activities 553.121 553,121 551,008 12,000 563,008 Total expendlture 553,121 553,121 551,008 12,000 563,008 Net gainsl(losses) on investments 11 (25,000) (25,000) Net expenditure and movement In funds (13,019) (13,019) (36,479) (36,479) Reconcillatlon of funds: Fund balances at 1 January 2024 1,034,888 1,187,535 2,202,203 1,071,147 1,167,535 2,238,682 Fund balances at 31 December 2024 1,021,649 1,167,535 2,189.184 1,034,668 1,167,535 2,202,203 The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activitles.
HOLLAND ROAD BAPTIST CHURCH TRUST STATEMENT OF FINANCIAL POSITION AS A T 31 DECEMBER 2024 2024 2023 Notes Flxed a89&ts Pryrty, plant and UIpMent Investment propety 13 14 1,203,028 425,000 1,204,546 450.000 1,628,028 1,854,548 Curr•nt aBs•ts Trade and other recelvables Cash at bank and In hand 16 18,582 574.388 e,253 576.460 592,950 (14,76S) 582,713 {14,238) Currnnt Ilabllltlo• 16 Net currant asgets 578,185 588,475 Total a350ts l•ss curront Ilabllltl08 2,206,213 2,223.021 Non-current IlablllU08 17 (17,029) (20,818) Net a88et8 2,189,184 2,202.203 The fund8 of the Church Re8tricted Income fund8 Ufftstrlded fund8 20 21 1,167,535 1,021,649 1,187,535 1,034,888 2,189.184 2,202,203 Th8 company 18 eniltted to the exemption from the audtt requlrement contslned In 8eGtlon 477 of th8 Comp8n188 A 2008, for the year ended 31 D8C8mber 2024. Tha dlr8¢aors ac1(n+1edge thelr re8ponglblliti8s for ¢omplylng wth the requlrements of the Companles Act 2QM)6 ith re8pect to accountlng records and the preparatlon of financlal slatements. The rMberS hava not requlred tho ¢panY to obtain an sudlt of it8 financial statements for the year In que8tlon In accordanc8 wrth Section 478. These financlal statements have been prepared In aordanCe wlth Ihg provlslonB appllcable to companles subJect to the Small companies raglme. The financial stat8ment8 were approved by the T eeson1 2025 D Treneer Trustee S Walker Tr Company regI8trallon nurnr 07227205. nd Wales 10-
HOLLAND ROAD BAPTIST CHURCH TRUST STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2024 2024 2023 Cash flows from operatlng actlvltles Cash absorbed by operations 26 (26.516) (42,834) Investlng activltles Purchase of propety, plant and equipment Investment income received (5,046) 29,116 28,213 Net cash generated from Investlng actlvltle8 28,213 24,070 Flnanclng actlvltles Repayment of borrowings (3,789) (4.014) Net cash used In financlng actlvltle8 (3,789) (4,014) Net dKrease In cash and cash •qulvalents (2,092) (22,578) Cash and cash equivalents at beginning of year 576,460 599,038 Cash and cash equlvalonts at and of year 574,368 576,460 11
HOLLAND ROAD BAPTIST CHURCH TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Accountlng pollcles Company Inforniatlon Holland Road Baptist Church Trust is a private company limited by guarantee incorporated in England and Wales and registered charity. number 1136471. The registered office is 71 Holland Road, Hove, East Sussex, BN3 1JN. 1.1 Accounting conventlon The financial ststements have been prepared in accordance with the Church's goveming document, the Companies Act 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "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 1021" The Church is a Public Benefit Entty as defined by FRS 102. The financi81 statements are prepared in sterling, which is the functional currency of the Church. Monetary amounts In these financial statements are rounded to the nearest £. The fin8ncl81 ststements have been prepared under the hlstorlcal cost convention as modlfied to ir£lude freehold investment properties at fair value. The principal accounting policles adopted are set out below. 1.2 Golng concern At the time of approvlng the financial statements, the Trustees have a reasonable expectation that the Church has adequate resources to continue in operalional existence for the foreseeable future. Thus the Trustees continue to adopt the going concem basis of accounting in preparing the financial statements. 1.3 Charltable funds Unrestrfcted Funds Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives unless the funds have been designated for other purposes. These include donations and other incoming resources receivable or generat8d for the objects of the Church without further specified purposes whlch are available as general funds or set aside by the trustees as designated funds. Unr eneral.. The General fund oversees the day to day work of the Church and incorporates the missionary work d the Church. Legacies General - Monies from legacies not as yet allocated. Legacies World Mission - Money set aside specifically for World Mission. Reserve - The sum of £85,000 is set aside as a general reserve in accordance with best practice. Restrlcted Funds These funds are to be used for specific purposes as laid down by the donor. Expenditure that meets these criteria is charged to the fund together with the appropriate management and support costs. Property Fund - The property owned by the Trust other than the Church. 12-
HOLLAND ROAD BAPTIST CHURCH TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Accounting policles (Contlnued) 1.4 Income Income is recognised when the Church is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received. Cash donations are recognised on receipt. Other donations are recognised On the Church has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under GiftAid or deeds of covenant is recognised at the time of the donation. Legacies aré recognlsed on receipt or otherwise rf the Church has been notlfied of an IMndIng distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset. 1.6 Expendlture Resources expended are recognised in the period in which they are incurred and allocated to the particular cost centre to which they relate, including support costs. These costs include irrecoverable VAT. 1.6 Property, plant and equlpment Property, plant and equipment are rneasud at cost, net of depreciation and any impalment losses. Details of the individual properties are given below.. Freehold property. Church Premlses: 71 Holland Road, Hove, East Sussex There is no record of original cost. In the opinion of the Trustees it is impractical to place a market value on the site. The property is held on Trust by The Baptist Union Corporation as custodial Trustee. Freehold property. 65 Holland Road, Hove, East Sussex The Charity elected to revalue the freehold property on the date of transition to FRS 102 SORP {1 January 20151 and to use this value as the deemed cost of the property in accordance with the transitional provision contained in section 35.10 (c) of FRS102. Flxtur68, fittlngs and 8qulpment Fixtures, Fittings and Equipment costing in excess of £2,500 are capitslised. All Fixtures, FittlrYJs and Equipment are depreciated on a straight line basis over 5 years. Depreclatlon Freehold land is not depreciated. Freehold buildings are also not depreciated as it is the policy of the Trustees that they be maintained to such a standard that their residual value Is not less than the carrying value at any given time. Land and buildings Fixtures, fittings & equipment not applicable 200kn straight line The gain or loss arising on the disposal of an asset is detemiined as the difference beleen the sale proceeds and the carrying value of the asset. and is recognised in the statement of financial activities. 1.7 Investment property A freehold investment residential propety in 17 May Road, Brighton was purchased in 2021 to earn rental income andlor capital appreciation and is shown at fair value. 1.8 Impairment of non•current assets At each reporting end date, the Church reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impaimient loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). 13-
HOLLAND ROAD BAPTIST CHURCH TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Accounting pollcles (Contlnued) 1.9 Cash and cash equlvalents Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. 1.10 Flnanclal Instruments The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequertly measured at their settlement value. Basic financial assets include trade and other receivables and sh and bank balances. Basic financial liabilities including trade and and other payables where trade payables are obligations to pay for goods or services that have been acquired on the ordinary course of operatior6 from suppliers. Basic flnanclal assets Basic financial assets, which include trade and other receivables and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Flnancial assets classified as receivable within one year are not amortised. Baslc financial Ilabilltles Basic financial Ilabililies, including trade and other payables and bank loans are initially recognised at transaclion price unless the arrangement constitutes a financing transaction, where the debt Instrument is measured at the present value of Ihe future payments discounted st a market rate of interest. Financial liabilities dassified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade payables are obligations to pay for goods or servlces that have been acqulred 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 payables are recognised initially at transaction price and subsequently measured at amortlS8d cost using the effective interest method. Derecognition of financial Ilabilitles Financial liabilities are derecognised when the Church's contractual obligations expire or are discharged or cancelled. 1.11 Employee beneflts The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received. Temiination benefits are recognised immediately as an expense when the Church is demonstrably committed to terminate the employment of an employee or to provide tennination benefits. 1.12 Retlrement beneffts The Church contribute to the defined pension contribution scheme of certain staff. The contributions payable for the year are charged in the Financial Statements as part of salaries. 1.13 Grant Maklng Policy The Trust supports by the provision of financial grants to Christian organisations whose own activities are in accordance with the Trust's objectives. The Church also supports long temi missionary partners connected with the Church or the Baptist Union. 14-
HOLLAND ROAD BAPTIST CHURCH TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Income from donatlons and legacies Unrestricted Restricted funds funds 2024 2024 Total Unrestrlcted Restricted funds funds 2023 2023 Totsl 2024 2023 Donations and gifts Other 518,827 518,827 443.722 443,722 12,000 12.000 518,827 518,827 443,722 12,000 455,722 Donatlons and glfts Donations and gifts Tax refund8 422,743 96,084 422,743 96.084 384.396 59,326 384,398 59,326 518,827 518,827 443,722 443,722 Income from charftable activltles Unrestrlcted funds 2024 Unrestrlcted funds 2023 Charltable activltles Rental Income - Cottage Church Weekend Rental Income - Use of premises vOrld Misslon Income 8,757 9,400 7,772 1,565 22,954 3,917 5,388 18,062 41,691 Incom• from Investments Unrestrlcted Unrestrlcted funds funds 2024 2023 Rental income Interest receivable 21,342 6,871 22,205 6,911 28,213 29,118 15-
HOLLAND ROAD BAPTIST CHURCH TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Expendlture on charltable actlvitles Charltable Charltsble oxpenditure expenditure 2024 2023 Dlrect costs Stsff costs Depreciation and impairment Pastoral expenses Visiting speakers Church VVeekend and conferences PmISeS for parking Outreach Music and drama Books and purchases Catering Youthwork and other Mission Trips - Ethiopla Training Group Ministries Sundries Church equipment repairs & maintenance Electricity, gas and water Insurance Repairs and Maintenance Small Equipment Licences and Subscriptions Legacy expenditure (sundry) Restore - sundry expenses Legacy - Ethlopia and Sundry 246,187 1,518 9,250 452 2,505 1,219 1.016 2,139 743 1,867 7,712 931 1,254 4,537 3,263 4,859 17,476 11,387 58,887 1,006 2,584 446 4,968 237,623 1,518 2,080 12,080 5,281 989 2,009 1,088 2,322 8,766 19,280 2,040 1,049 3,098 4,795 15,726 10,826 31,537 1.556 2,470 125 5,961 8,356 386.206 392,535 Grant funding of activities (see note 6) 89,407 94,713 Share of 8UPPOrt and governance costs (see nots 7) Support Governance 69,416 8,092 70,065 5,895 553,121 563,008 Analysls by fund Unrestricted funds Restricted funds 553,121 551,008 12,000 553,121 563,008 16-
HOLLAND ROAD BAPTIST CHURCH TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Grants payable Charltable expendlture 2024 Charitable expenditure 2023 Grants to institutions: Christians Against Povety General Gifts to organisations Global Partners Missionary Missionary Partners Other 21,775 500 9,420 21,009 1.428 20,827 500 11,972 17,433 6,689 54,132 57,421 Grants to individuals 35.275 37,292 89,407 94,713 Support costs allocated to actlvltles Charftable expendlture 2024 Total 2023 Staff costs Telephone Office and admlnlstration Govemance 52,286 4,028 14,873 6,321 50,560 4.330 15,175 5,695 77,508 75,760 2024 2023 Governance costs comprlse: Independent examination fees Accountancy Legal and professional Bank Charges Loan Interest 1,200 3,180 1,038 778 125 1,260 3,000 990 445 6,321 5.695 17-
HOLLAND ROAD BAPTIST CHURCH TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Net movement In funds 2024 2023 The net movement in funds is stated after chargingl(crediting): Fees payable for the independent examination of the charity's financial ststements Depreciation of ovffled propety, plant and equipment 1,200 1,518 1,260 1.518 Trustees Trustees are reimbursed any expense costs directly incurred on behatf of the Church. These are not considered material to disclose. The aggregate donations from the Trustees to the Church during the year was £54,840 (2023'.£16,741). Trustee Remuneratlon The following were trustees durlng the year that received salaries and pension contributions in respect of their work as employees of the Church as allowed within the Memorandum and Artldes of Assoclatlon. 2024 Salarles Employer NIC Employer Pen8lon Contrlbutlons D Treneer S Walker 48,149 36,480 5,389 3,779 5,838 4,422 2023 Salarles Employer NIC Employer Penslon Contrlbutlons D Treneer S Walker 46,323 34,800 5,137 3,547 5,610 4,252 10 Employees The average monthly number of full and part time employees during the year was: 2024 Number 2023 Number Direct church activities Support Total 12 11 18-
HOLLAND ROAD BAPTIST CHURCH TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 10 Employees (Continued) Employment costs 2024 2023 Wages and salaries Social security costs Other pension costs 254,837 19,310 24,326 247,978 16,472 23,733 298,473 288,183 Volunteers The Trustees extend their thanks to numerous volunteers who give so sacrificially in both time and resource into the vision of the Church. There were no employees whose annual remuneration was more than £60,000. Remunoratlon of key management personnel The remuneration of key management personnel wa$ as follows: 2024 2023 Agggate compensation 159,680 152,691 11 Net galn81{1088os) on Investments Unrestrlctsd funds Total 2024 2023 Revaluation of investment properties (25,000) 12 Taxatlon The charty is exempt from tsxation on its activities because all its income is applied for charitable purposes. 19-
HOLLAND ROAD BAPTIST CHURCH TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 13 Property. plant and equlpment Land and bulldlngs Flxtures. fittings & equipment Totsl Cost At 1 January 2024 1,200,000 57,590 1,257,590 At 31 December 2024 1,200,000 57,590 1,257,590 Depreclatlon and Impalrment At 1 January 2024 Depreciation charged in the year 53,044 1,518 53,044 1,518 At 31 December 2024 54,562 54,562 Carrylng amount At 31 December 2024 1,200,000 3,028 1,203,028 At 31 December 2023 1,200,000 4,546 1,204,546 14 Investment property 2024 Fair value At 1 January 2024 Net gains or losses through fair value adjustments 450,000 (25,000) At 31 December 2024 425,000 Investment property comprises of the 17 May Road property, Brighton, East Sussex. It was revalued by Kendrick Propety Services at 31 December 2024 resulting in the reduction of £25,000 in market value 15 Trade and other recelvable8 2024 2023 Amounts falllng due wlthln one year: other receivables Prepayments and accrued income 14,659 3,923 2,461 3,792 18,582 6,253 -20-
HOLLAND ROAD BAPTIST CHURCH TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 16 Current liabilities 2024 2023 other taxation and social security Baptist Union Corporation Ltd (Loan) Other payables Accruals 5,906 3,913 566 4,380 4,368 3,913 1,757 4,200 14,765 14,238 17 Non-curr•nt Ilabllltles 2024 2023 Baptist Unlon Corporation Ltd 17,029 20,818 18 Borrowlngs Isee note 22) 2024 2023 Payable within one year Payable after one year (see note 16 18ee noto 17) 3,913 17,029 3,913 20,818 20,942 24,731 19 R8tlrement beneflt schemes 2024 2023 Defined contrlbutlon schemes Charge to profit or loss In respect of defined contribution schemes 24,326 23,733 The Church operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the Church in an independently administered fund. 20 Restrlcted funds The restricted funds of the charity comprise the unexpended balan$ 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 At31 December 2024 Property Fund 1,167,535 1,167,535 21
HOLLAND ROAD BAPTIST CHURCH TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 20 R8stricted funds (Contlnued) Previous year: At 1 January 2023 Incomlng resources Resources expendod At31 December 2023 Property Fund Hall Flooring Fund 1,167,535 1,167,535 12,000 (12,000) 1,167,535 12,000 (12,000) 1,167,535 The Properties are stated at cost of £1,200,000 within the balance sheet. The difference of £32,465 compared to the fund balance represents money raised through unrestricted funds. 21 Unre8trf¢tsd funds The unrestricted funds of the charity comprlse 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. At31 December 2024 At 1 January 2024 Incomlng re80urce8 Resource8 expended Galns and losse8 Legacies General Reserve fund Lagacies World Mission General funds 28,038 85,000 15.693 905,937 (448) 27,592 85,000 18,293 892,764 1,300 563,802 (700) {551,975) (25,000) 1,034,888 565,102 (553,121) (25,000) 1,021,649 Prevlous year: At 1 January 2023 Incomlng Resources resources expended Galns and losses At31 December 2023 Legacies General Resenie fund Lagacies Vlorld Mission General funds 36,609 85,000 24,049 925,489 (8,571) 28,038 85,000 15,693 905,937 (8,356) (534,081) 514,529 1.071,147 514.529 (551.008) 1,034,668 -22-
HOLLAND ROAD BAPTIST CHURCH TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 22 Analysls of nat assets between funds Unrestrfcted funds 2024 Restrlctsd funds 2024 Total 2024 At 31 December 2024: Propety, plant and equipment Investment properties Current assetsl(liabilities) Long tem liabilities 35,493 425,000 578,185 (17,029) 1,167,535 1,203,028 425,000 578,185 (17,029) 1.021,649 1,167,535 2,189,184 Unrastrlcted funds 2023 Re8trlcted funds 2023 Total 2023 At 31 December 2023: Property, plant and equipment Investment properties Current assetsl{liabilities) Long temi liabilities 37,011 450,000 568,475 (20,818) 1,167,535 1,204,546 450,000 568,475 (20,818) 1,034,868 1,167,535 2,202,203 23 Baptlst Penslon Fund D•flclt This is a loan from the Baptist Union to enable the Church to cover its contrlbutions for the past deficit of The Baptist Pension Fund. The loan is repaid over a 15 year temi from 5 March 2018 with interest charged at 24 Operating lease commltments Lessee 2024 2023 Within one year Btheen two and five years 3,922 9.805 3,922 13,727 13,727 17.849 -23-
HOLLAND ROAD BAPTIST CHURCH TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 25 Related party trdnsactlons There were no further related paty transactions other than disclosed in the note 9 (2023 - none). 26 Cash absorbed by operatlons 2024 2023 Deficit for the year (13,019) (36.479) Adjustments for: Investment income recognised in ststement of financial activities Fair value gains and losses on investment properties Depreciation and impairm8nt of property, plant and equipment (28,213) 25,000 1,518 (29,116) 1.518 Movements In worklng capltal: {Increase)Idecrease in trade and other receivables Increase in trade and other payables (12.329) 527 20,582 861 Cash absorbed by oporatlons (26,516) (42,634) 27 Anatysis of changes In net fund8 At 1 Janujry 2024 Ca•h IIov•3 At 31 Oecemb8r 2024 Cash at bank and In hand 576,460 (2,092) 574,368 Loans falllng due after more than one year {20.818) 3,789 (17,029) 555,642 1,697 557,339 -24-