BOSCOMBE BAPTIST CHURCH
Charity No. 1138015
Trustees' Report and Unaudited Accounts
31 December 2023
BOSCOMBE BAPTIST CHURCH Contents
| Pages | |
|---|---|
| Trustees' Annual Report | 2 to 3 |
| Independent Examiner's Report | 4 |
| Statement of Financial Activities | 5 |
| Balance Sheet | 6 |
| Notes to the Accounts | 7 to 14 |
Page 1
BOSCOMBE BAPTIST CHURCH Trustees Annual Report
The trustees present their report with the unaudited financial statements of the charity for the year ended 31 December 2023.
REFERENCE AND ADMINISTRATIVE DETAILS
Charity No. 1138015
Principal Office
26 Palmerston Road Boscombe Bournemouth Dorset BH1 4HS
Trustees
The following trustees served during the year:
D.P. Chirnside C.M. Ellis H.E. Humby D.S. Kiteley D.R. Stewart
Trustees holding title to charity property
The Baptist Union Corp Ltd
Accountants
Bicknell Business Advisers Ltd 40 Broadway Lane Bournemouth BH8 0AA
Bankers
HSBC 15 High Street Christchurch BH23 1AF
OBJECTIVES AND ACTIVITIES
Boscombe Baptist Church is evangelical and accepts the Holy Bible as its sole authority. It exists for the worship of Almighty God and to advance the Gospel of Jesus Christ in whatever way it can in accordance with the principles of the Baptist denomination within Boscombe, the wider area of BCP and elsewhere.
The Trustees confirm that they have referred to the Charity Commission's guidance on public benefit, in particular the specific guidance to charities for the advancement of religion, when reviewing the charity's aims and objectives and in planning future activities. All are welcome to attend the services and activities at the church; our membership comprises people from various ethnic and social backgrounds.
Page 2
BOSCOMBE BAPTIST CHURCH
Trustees Annual Report
2023 has been a year of steady numerical growth. A number of baptisms were performed, new discipleship groups started, and various activities that have reached out to the local community of Boscombe (including Fun Days, Film Nights and a Live Nativity at Christmas) were considered a great success.
FINANCIAL REVIEW
It is the policy of the Charity Trustees to maintain unrestricted funds, which are free reserves of the Church, at a level which takes into account variable general giving, future repair needs of the Church building and Manse, and the need to support our staff team. The Leadership Team estimate that this should be 6 months of expenditure and will seek to keep this level of funds available at all times.
The Leadership Team has powers to invest surplus Church funds at their absolute discretion. Their current policy is to invest surplus funds in 3 Baptist Union high interest accounts
The Baptist Union Corporation Ltd hold the Church, land and buildings, at the Church address shown above, in trust on behalf of the Members of the Boscombe Baptist Church as determined by the Trust Deed dated 28th March 1941.
A conservative estimate of the market value at the end of 2023 of the land and buildings of the Church and the Manse would be £500,000 and £450,000 respectively.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Boscombe Baptist Church was registered as a charity on 15th September 2010. The registered charity number is 1138015. New Trustees are appointed by the Church Members meeting and usually at the AGM. Members meetings take place not less than four times a year and have responsibility for the overall policy of the Church. In accordance with the Constitution, the members appoint up to twelve trustees who together with the Minister, Church Secretary and Treasurer are collectively known as the Leadership Team. The Leadership Team is responsible for the day to day running of the Church’s work and witness and the financial and legal aspects of the charity. Relevant matters may be submitted to the Church Meeting by the Leadership Team for guidance and approval or may be submitted to the Leadership Team for consideration at the next members’ meeting. Boscombe Baptist Church was registered with the Charity Commission on 15th September 2010 as Charity number 1138015. In November 2012 the Church was formally accepted into the Baptist Union which provides greater support for the church in terms of resource and experience.
Statement of trustees' responsibilities in relation to the financial statements
The charity trustees are responsible for preparing a trustees' annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations, and the provisions of the Trust deed. The Trustees are also responsible for safeguarding the assets of the charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities.
Signed on behalf of the charity's trustees
D.P. Chirnside Trustee
08 October 2024
Page 3
BOSCOMBE BAPTIST CHURCH
Independent Examiners Report
Independent Examiner's Report to the trustees of BOSCOMBE BAPTIST CHURCH
I report to the trustees on my examination of the financial statements of BOSCOMBE BAPTIST CHURCH for the year ended 31 December 2023.
Responsibilities and basis of report
As the charity's trustees 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 can 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:
-
the accounting records were not kept in respect of the charity as required by section 130 of the Act; or
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the financial statements do not accord with those records; or
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the financial statements do not comply with the applicable requirements concerning the form and content of financial statements set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the financial statements 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 financial statements to be reached.
Steven Bicknell FCMA CGMA Fellow of the
Chartered Institute of Management Accountants Bicknell Business Advisers Ltd 40 Broadway Lane
Bournemouth
BH8 0AA
08 October 2024
Page 4
BOSCOMBE BAPTIST CHURCH
Statement of Financial Activities
for the year ended 31 December 2023
| Unrestricted | Restricted | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| funds | funds | Total funds | Total funds | |||||||
| 2023 | 2023 | 2023 | 2022 | |||||||
| Notes | £ | £ | £ | £ | ||||||
| Income and endowments | ||||||||||
| from: | ||||||||||
| Donations and legacies | 3 | 50,535 | - | 50,535 | 56,264 | |||||
| Charitable activities | 4 | - | 2,487 | 2,487 | 2,862 | |||||
| Other trading activities | 5 | 29,050 | - | 29,050 | 31,496 | |||||
| Investments | 6 | 3,204 | - | 3,204 | 564 | |||||
| Total | 82,789 | 2,487 | 85,276 | 91,186 | ||||||
| Expenditure on: | ||||||||||
| Raising funds | 7 | 10,675 | - | 10,675 | 6,876 | |||||
| Charitable activities | 8 | 3,145 | 1,368 | 4,513 | 2,024 | |||||
| Other | 9 | 78,336 | - | 78,336 | 70,834 | |||||
| Total | 92,156 | 1,368 | 93,524 | 79,734 | ||||||
| Net gains on investments | - | - | - | - | ||||||
| Net (expenditure)/income | (9,367) | 1,119 | (8,248) | 11,452 | ||||||
| Transfers between funds | 1,094 | (1,094) | - | - | ||||||
| Net (expenditure)/income before other gains/(losses) |
(8,273) | 25 | (8,248) | 11,452 | ||||||
| Other gains and losses | ||||||||||
| Net movement in funds | (8,273) | 25 | (8,248) | 11,452 | ||||||
| Reconciliation of funds: | ||||||||||
| Total funds brought forward | 119,145 | 2,223 | 121,368 | 109,916 | ||||||
| Total funds carried forward | 110,872 | 2,248 | 113,120 | 121,368 | ||||||
Page 5
BOSCOMBE BAPTIST CHURCH Balance Sheet
at 31 December 2023
| Charity No. 1138015 | 2023 | 2022 | ||
|---|---|---|---|---|
| £ | £ | |||
| Current assets | ||||
| Cash at bank and in hand | 113,120 | 121,368 | ||
| 113,120 | 121,368 | |||
| Net current assets | 113,120 | 121,368 | ||
| Total assets less current liabilities | 113,120 | 121,368 | ||
| Net assets excluding pension asset or liability | 113,120 | 121,368 | ||
| Total net assets | 113,120 | 121,368 | ||
| The funds of the charity | ||||
| Restricted funds | 12 | |||
| Restricted income funds | 2,248 | 2,223 | ||
| 2,248 | 2,223 | |||
| Unrestricted funds | 12 | |||
| General funds | 89,026 | 67,256 | ||
| Designated funds | 21,846 | 51,889 | ||
| 110,872 | 119,145 | |||
| Reserves | 12 | |||
| Total funds | 113,120 | 121,368 | ||
Approved by the trustees on 08 October 2024
And signed on their behalf by:
D.P. Chirnside Trustee 08 October 2024
Page 6
BOSCOMBE BAPTIST CHURCH Notes to the Accounts
for the year ended 31 December 2023
- 1 Accounting policies
Basis of preparation
The financial statements have been prepared in accordance with Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic if Ireland (FRS 102) issued on 16 July 2014 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011.
Change in basis of accounting or to previous accounts
There has been no change to the accounting policies (valuation rules and method of accounting) since last year and no changes have been made to accounts for previous years.
Fund accounting
-
Unrestricted funds These are available for use at the discretion of the trustees in furtherance of the general objects of the charity.
-
Designated funds These are unrestricted funds earmarked by the trustees for particular purposes. Revaluation funds These are unrestricted funds which include a revaluation reserve representing the restatement of investment assets at their market values.
-
Restricted funds These are available for use subject to restrictions imposed by the donor or through terms of an appeal.
Income
-
Recognition of Income is included in the Statement of Financial Activities (SoFA) when the charity income becomes entitled to, and virtually certain to receive, the income and the amount of the income can be measured with sufficient reliability.
-
Income with related Where income has related expenditure the income and related expenditure is expenditure reported gross in the SoFA.
-
Donations and Voluntary income received by way of grants, donations and gifts is included in the legacies the SoFA when receivable and only when the Charity has unconditional entitlement to the income.
-
Tax reclaims on Income from tax reclaims is included in the SoFA at the same time as the donations and gifts gift/donation to which it relates. Donated services These are only included in income (with an equivalent amount in expenditure) and facilities where the benefit to the Charity is reasonably quantifiable, measurable and material.
-
Volunteer help The value of any volunteer help received is not included in the accounts. Investment income This is included in the accounts when receivable. Gains/(losses) on This includes any gain or loss resulting from revaluing investments to market value revaluation of fixed at the end of the year. assets Gains/(losses) on This includes any gain or loss on the sale of investments. investment assets
Page 7
BOSCOMBE BAPTIST CHURCH Notes to the Accounts
Expenditure
-
Recognition of Expenditure is recognised on an accruals basis. Expenditure includes any VAT which expenditure cannot be fully recovered, and is reported as part of the expenditure to which it relates.
-
Expenditure on These comprise the costs associated with attracting voluntary income, fundraising raising funds trading costs and investment management costs. Expenditure on These comprise the costs incurred by the Charity in the delivery of its activities and charitable activities services in the furtherance of its objects, including the making of grants and governance costs.
-
Grants payable All grant expenditure is accounted for on an actual paid basis plus an accrual for grants that have been approved by the trustees at the end of the year but not yet paid.
-
Governance costs These include those costs associated with meeting the constitutional and statutory requirements of the Charity, including any audit/independent examination fees, costs linked to the strategic management of the Charity, together with a share of other administration costs.
-
Other expenditure These are support costs not allocated to a particular activity.
Taxation
The charity is exempt from tax on its charitable activities.
Freehold investment property
Investment properties are measured initially at cost and subsequently at fair value at each balance sheet date and are not depreciated. All gains or losses are taken to the Statement of Financial Activities as they arise.
Trade and other debtors
Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities. In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the company's cash management.
Trade and other creditors
Short term creditors are measured at the transaction price. Other creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.
Page 8
BOSCOMBE BAPTIST CHURCH Notes to the Accounts
Leased assets
Where the charity enters into a lease which entails taking substantially all the risks and rewards of ownership of an asset, the lease is treated as a finance lease.
Leases which do not transfer substantially all the risks and rewards of ownership to charity are classified as operating leases.
Assets held under finance leases are initially recognised as assets of the charity at their fair value at the inception of the lease or, if lower, at the present value of the minimum lease payments. The corresponding liability to the lessor is included in the balance sheet date as a finance lease obligation. Lease payments are apportioned between finance expenses and reduction of the lease obligation so as to achieve a constant rate of interest on the remaining balance of the liability. Finance expenses are recognised immediately, unless they are directly attributable to qualifying assets, in which case they are capitalised in accordance with the charity's policy on borrowing costs. Assets held under finance leases are depreciated in the same way as owned assets.
Operating lease payments are recognised as an expense on a straight-line basis over the lease term. In the event that lease incentives are received to enter into operating leases, such incentives are recognised as a liability. The aggregate benefit of incentives is recognised as a reduction of rental expense on a straight-line basis.
Pension costs
The charity operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the charity pays fixed contributions into a separate entity. Once the contributions have been paid the charity has no further payments obligations. The contributions are recognised as expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the charity in independently administered funds.
Receipt of donated goods, facilities and services
All donated goods, facilities and services received are recognised within incoming resources and expenditure at an estimate of the value to the charity.
Page 9
BOSCOMBE BAPTIST CHURCH
Notes to the Accounts
2 Statement of Financial Activities - prior year
| 2 | Statement of Financial Activities - prior year | |||||
|---|---|---|---|---|---|---|
| Unrestricted | Restricted | |||||
| funds | funds | Total funds | ||||
| 2022 | 2022 | 2022 | ||||
| £ | £ | £ | ||||
| Income and endowments from: | ||||||
| Donations and legacies | 56,264 | - | 56,264 | |||
| Charitable activities | - | 2,862 | 2,862 | |||
| Other trading activities | 31,496 | - | 31,496 | |||
| Investments | 564 | - | 564 | |||
| Total | 88,324 | 2,862 | 91,186 | |||
| Expenditure on: | ||||||
| Raising funds | 6,876 | - | 6,876 | |||
| Charitable activities | 742 | 1,282 | 2,024 | |||
| Other | 68,892 | 1,943 | 70,834 | |||
| Total | 76,509 | 3,225 | 79,734 | |||
| Net income | 11,815 | (363) | 11,452 | |||
| Net income before other gains/(losses) |
11,815 | (363) | 11,452 | |||
| Other gains and losses: | ||||||
| Net movement in funds | 11,815 | (363) | 11,452 | |||
| Reconciliation of funds: | ||||||
| Total funds brought forward | 107,331 | 2,585 | 109,916 | |||
| Total funds carried forward | 119,146 | 2,222 | 121,368 | |||
| 3 | Income from donations and legacies | |||||
| Unrestricted | Total | Total | ||||
| 2023 | 2022 | |||||
| £ | £ | £ | ||||
| Regular Giving | 34,081 | 34,081 | 25,074 | |||
| One-off gifts | 10,130 | 10,130 | 15,092 | |||
| Gift Aid tax recovered | 6,324 | 6,324 | 16,098 | |||
| 50,535 | 50,535 | 56,264 | ||||
| 4 | Income from charitable activities | |||||
| Restricted | Total | Total | ||||
| 2023 | 2022 | |||||
| £ | £ | £ | ||||
| Mission | 2,487 | 2,487 | 463 | |||
| Other Gifts | - | - | 328 | |||
| Community Grants | - | - | 2,071 | |||
| 2,487 | 2,487 | 2,862 |
Page 10
BOSCOMBE BAPTIST CHURCH
Notes to the Accounts
5 Income from other trading activities
| Rental Income Other 6 Income from investments Interest Received - BU Deposit Accounts 7 Expenditure on raising funds Costs of generating voluntary income Regular Giving 8 Expenditure on charitable activities Expenditure on charitable activities Mission Community Grants Governance costs |
Unrestricted £ 1,893 1,252 3,145 |
Unrestricted £ 27,665 1,385 29,050 Unrestricted £ 3,204 3,204 Unrestricted £ 10,675 10,675 Restricted £ 1,368 - 1,368 |
Total 2023 £ 27,665 1,385 29,050 Total 2023 £ 3,204 3,204 Total 2023 £ 10,675 10,675 Total 2023 £ 3,261 1,252 4,513 |
Total 2022 £ 30,169 1,327 31,496 Total 2022 £ 564 564 Total 2022 £ 6,876 6,876 Total 2022 £ 1,546 478 2,024 |
|---|---|---|---|---|
Page 11
BOSCOMBE BAPTIST CHURCH Notes to the Accounts
9 Other expenditure
| Employee costs Motor and travel costs Premises costs General administrative costs Legal and professional costs |
Unrestricted £ 51,238 160 22,156 4,078 704 78,336 |
Total 2023 £ 51,238 160 22,156 4,078 704 78,336 |
Total 2022 £ 40,503 26 25,672 3,140 1,493 70,834 |
|---|---|---|---|
10 Trustee remuneration and expenses
2023 2022 Number Number
The nature of the reimbursed expenses Mileage Allowance, proportion of Manse utilities (as per contractual agreement) and other applicable purchases made on behalf of BBC
11 Staff costs
| Staff costs | ||
|---|---|---|
| 2023 | 2022 | |
| Salaries and wages | 44,265 | 33,974 |
| Pension costs | 3,363 | 3,123 |
| 47,628 | 37,097 | |
No employee received emoluments in excess of £60,000.
The average monthly number of full time equivalent employees during the year was as follows:
| 2023 | 2022 | |
|---|---|---|
| Number | Number | |
| Minister | 1 | 1 |
| 1 | 1 |
Pension contributions are made to a NEST pension scheme.
Page 12
BOSCOMBE BAPTIST CHURCH
Notes to the Accounts
12 Movement in funds
| Movement in funds | |||||
|---|---|---|---|---|---|
| Incoming | |||||
| resources | At 31 | ||||
| At 1 January | (including other |
Resources expended |
Gross transfers |
December 2023 |
|
| 2023 | gains/losses) | ||||
| £ | £ | £ | £ | ||
| Restricted funds: | |||||
| Restricted income funds: | |||||
| Mission | 2,223 | 2,487 | (1,368) | (1,094) | 2,248 |
| Total | 2,223 | 2,487 | (1,368) | (1,094) | 2,248 |
| Unrestricted funds: | |||||
| General funds | 67,256 | 82,789 | (92,156) | 31,137 | 89,026 |
| Designated funds: | |||||
| Residual funds from Manse | |||||
| Sale/Purchase | 51,889 | - | - | (30,043) | 21,846 |
| Total | 51,889 | - | - | (30,043) | 21,846 |
| Total funds | 121,368 | 85,276 | (93,524) | - | 113,120 |
| Purposes and restrictions in relation to the funds: | |||||
| Restricted funds: | |||||
| Mission | Collections for charities | ||||
| Designated funds: | |||||
| Residual funds from Manse | To pay for a minister (2020-2023) | ||||
| Sale/Purchase |
13 Analysis of net assets between funds
| 13 | Analysis of net assets between funds | |||
|---|---|---|---|---|
| Unrestricted | Restricted | Total | ||
| funds | funds | |||
| £ | £ | £ | ||
| Net current assets | 111,991 | 1,129 | 113,120 | |
| 111,991 | 1,129 | 113,120 | ||
| 14 | Reconciliation of net debt | |||
| At 31 | ||||
| At 1 January | December | |||
| 2023 | Cash flows | 2023 | ||
| £ | £ | £ | ||
| Cash and cash equivalents | 121,368 | (8,248) | 113,120 | |
| 121,368 | (8,248) | 113,120 | ||
| Net debt | 121,368 | (8,248) | 113,120 | |
Page 13
BOSCOMBE BAPTIST CHURCH Notes to the Accounts
15 Commitments
Operating lease commitments
Annual commitments under non-cancellable operating leases are as follows:
| 2023 | 2023 | 2022 | 2022 | |
|---|---|---|---|---|
| Land and | Land and | |||
| Other | Other | |||
| buildings | buildings | |||
| £ | £ | £ | £ | |
| Operating leases with expiry date: | ||||
| Pension commitments | ||||
| 2023 | 2022 | |||
| £ | £ | |||
| The pension cost charge to the charity | ||||
| amounted to: | 3,363 | 3,123 | ||
Page 14