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2024-12-31-accounts

Registered Charity number 1140231

CHRIST CHURCH, IPSWICH

FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 2024

.

CHRIST CHURCH, IPSWICH

INDEX YEAR ENDED 31 DECEMBER 2024

Page
Administrative Information 1
Trustees' Report 2-5
Independent Examiner's Report 6
Statement of Financial Activities 7
Balance Sheet 8
Notes to the Accounts 9-17

CHRIST CHURCH, IPSWICH

ADMINISTRATIVE INFORMATION YEAR ENDED 31 DECEMBER 2024

Registered charity number : 1140231 Address: Tacket Street, Ipswich, Suffolk IP4 1AU Website: www.christchurch-ipswich.org.uk Trustees: Chair Rev N A Coulson Secretary R S King – co-opted from 01/01/2025 Treasurer J Durnford N F Bridgland J D Byford A E Fox K M Helleur J M Jones B S Naunton N E N Powlett M G Smith D K Stainer – retired 31/12/2024 J D Thornton – retired 31/12/2024 J F Waters Trustees: (Manse Property and Investments) Baptist Union Corporation Ltd Baptist House, 129 Broadway Didcot, OX11 8RT

The Church buildings at Tacket Street Ipswich,IP4 1AU are vested in 'The United Reformed Church (Eastern Province) Trust' as trustee and held for the benefit of Christ Church , Ipswich in accordance with the trusts applicable to United Reformed Church Properties.

Bankers: CAF Bank Ltd 25 Kings Hill, West Malling Kent, ME19 4JQ COIF Charities Deposit Fund CCLA PO Box 12892 Dunmow Essex CM6 9DL Independent Examiner: Mrs Helen Rumsey, FCA (Dch A) Ensors Chartered Accountants Connexions 159 Princes Street Ipswich, IP1 1QJ

1

CHRIST CHURCH, IPSWICH

TRUSTEES’ REPORT YEAR ENDED 31 DECEMBER 2024

The trustees present their report and the financial statements of the charity for the year ended 31 December 2024. The details on page one form part of this report.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the Charities Act 2011 and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

STRUCTURE, GOVERNANCE AND MANAGEMENT

Christ Church, Ipswich is a charitable unincorporated association and is governed in accordance with a Constitution dated 28[th] November 2010.

The church is a member of the Baptist Union of Great Britain and of the United Reformed Church and more locally the Eastern Baptist Association and the Eastern Synod of the United Reformed Church.

The principal decision-making body is the Church Meeting which normally convenes five times each year. Every church member is encouraged to attend and vote on the issues after a process of prayerful thought and mutual listening.

Committees , answerable to the Church Meeting, help to prepare the issues, on occasions making recommendations, and are then charged to execute the decisions.

Trustees/Deacons . A maximum of fifteen Deacons may be elected and in 2024 the church had thirteen elected Deacons plus the Minister who is a trustee ex officio. This body functions as its Managing Trustees and they aim to meet ten times each year. Each Deacon serves for three years and can be re-elected for another three-year term before being obliged to stand down for at least a year. Deacons must achieve an absolute majority of votes cast in a secret ballot and their terms of office run from January to December.

Other committees are delegated to deal with Property, Finance, Church Life, and ECO group and all report to the diaconate and then to the Church Meeting.

AIM AND PURPOSE

The purpose of the charity is to advance the Christian faith in Ipswich and East Suffolk in accordance with the principles and practices of the Baptist and United Reformed Churches.

To achieve this purpose the charity engages in a range of activities i ncluding,

Holy Communion is celebrated once each month and all are invited to receive the bread and wine.

Junior Church is provided each week for the children and a Cafe-style meeting once each month for the young people to explore wider topics.

Three further small groups of members meet regularly for bible study and discussion.

2

CHRIST CHURCH, IPSWICH

TRUSTEES’ REPORT YEAR ENDED 31 DECEMBER 2024

OBJECTIVES

The church family at Christ Church is a worshipping, welcoming community in which all can come to experience the love of God.

We seek to share this love, to care for each other, to challenge injustice and to meet need. We seek:

PUBLIC BENEFIT

The Trustees are aware of the Charity Commission’s guidance on delivering public benefit. The Trustees consider that they are fulfilling the requirements to deliver a public benefit.

The church aims to provide a celebration of public worship and the teaching of the Christian faith which is open to all. The audio-visual equipment enhances the worship experience not only for those in church but also for those unable to attend and services are made available to the wider public via the church website.

The weekly Thursday Forum is organised and managed by church members and provides a low-cost lunch followed by a meeting with local speakers on a wide range of topics of local and national interest and particularly hearing about the valuable work of lesser-publicised local charities. This attracts an audience of members of Christ Church, other churches and those of no church and they have an opportunity to make a donation which benefits the speaker's charity.

The church members offer a “Tots+” meeting which gives a weekly session for pre-school children and their parents/carers. Those making use of this activity are predominantly from the local community, where play, chat and refreshments can be enjoyed, and support given where it may be required.

For two days in the summer, the “Holiday at Home” was organised by church members and provided company, entertainment, food and craft activity. Those attending were predominantly non-church guests and they were supported by church members during the day.

The church provides rooms for meetings of local organisations and charities such as Support Groups and uniformed youth organisations.

The church actively and financially supports local, national and international charities.

ACHIEVEMENTS

Worship continues to be held every Sunday morning, and text-based services are provided to those unable to attend. Broadband was made available during 2024 and this, among other benefits, enabled the weekly services and funeral services to be streamed live on the YouTube channel. This provides easy access to the worship for frail members and for the general public.

The financial income to the church from voluntary giving was maintained but the church and its members continued to be affected financially by national issues. To reduce the expense incurred in heating the sanctuary the church continued to hold winter services of worship in the smaller church hall.

The church received two legacies totalling £7,122 during 2024.

The congregation continued to provide generous financial contributions to national and local charities.

3

CHRIST CHURCH, IPSWICH

TRUSTEES’ REPORT YEAR ENDED 31 DECEMBER 2024

During the year with the help of a substantial personal gift from a member and a grant from the Benefacts Trust we were able to install photovoltaic panels.

The Eco-group continues to explore and implement ways in which the church premises can change to make our town centre site more attractive to wildlife, less reliant on natural resources and to promote ecological thinking in all areas of personal and church life. Some work on the grounds has been achieved. It is acknowledged that the age and construction of the sanctuary constrains the implementation of some Eco -friendly changes but the award of the Bronze status from the A Rocha Eco Church scheme is evidence of some progress and can stimulate further thinking and action.

After much deliberation the church membership decided by a formal vote that it wished to accommodate requests for same-sex marriages. As the church building is held by the United Reformed Church, Eastern Synod, the formal application for registration has been made by that body.

The Trustees acknowledge that much of the management of the charity is carried out voluntarily by the members. Additionally, the membership is responsible with the stipendiary Minister in providing:

TRANSACTIONS AND FINANCIAL POSITION

The Statement of Financial Activities (page 7) shows a net deficit on the general unrestricted fund for the year of £3,248. A net surplus of £1,489 has arisen on the designated (unrestricted) funds. The surplus on restricted funds amounted to £15,494. The movement on the endowment fund reflects the gain on the revaluation of the investments of £15,391.

The general funds carried forward amount to £45,358.

The designated funds carried forward amount to £246,563 including £164,681 relating to the Manse property.

The restricted funds carried forward amount to £83,473 including £67,819 relating to the Manse property.

The endowment fund carried forward amounted to £375,876.

The trustees have reviewed the going concern basis and consider that the Church has adequate resources to continue its charitable activities for the foreseeable future.

TRUSTEES

The Trustees of the charity are detailed on page 1 of these accounts.

APPOINTMENT OF TRUSTEES

When a vacancy occurs for a trustee, the church members seek to elect an individual with skills and experience which they feel will be of benefit to the church.

On appointment, new trustees are given copies of the latest Annual Report and Accounts. There is no formal induction and training programme, but individual trustees attend seminars to update themselves when they feel it necessary.

4

CHRIST CHURCH, IPSWICH

TRUSTEES’ REPORT YEAR ENDED 31 DECEMBER 2024

MANAGING RISK

The Trustees have considered the major risks to which the church is exposed, and systems have been established to mitigate those risks. The implementation of these procedures minimises those risks. These procedures are regularly reviewed to ensure that they still meet the needs of the charity. In particular, to minimise any financial risks the trustees would seek reputable banks and other investment institutions into which they could place funds. The performance of their investment would then be reviewed.

RESERVES

The church has eleven designated funds, including one relating to the Manse property.

Seven funds are property-related and cover the probable causes of unexpected expense and also for planned maintenance expenditure.

Three other designated funds were set up to smooth the impact of exceptional expenditure. The current values of these funds are presented within the accounts.

The authority of Church Meeting is required for expenditure in excess of £4,000; up to £4,000 can be authorised by the Finance Committee on recommendation of the Property Committee.

Additions to these funds are incorporated in the annual budgeting process, taking into account expected running expenses and anticipated income in the next year. It has to be a matter of concern that, although the church continues to meet its running costs on a yearly basis, it has not been possible to increase all of these funds on a regular basis in order that they might meet the unexpected costs for which they were set up. The transfer of £30,000 to the church funds from the endowment investment will improve the reserve funds but it is to be realised that this change will reduce the dividend on this investment and consequently reduce the annual income to the general funds.

INVESTMENT POLICY

Christ Church money is held in accounts with recognised financial institutions. We would aim to make ethical and socially responsible investments which provide readily available funds, consistent with best returns and limited risk.

EMPLOYMENT MATTERS

The trustees are responsible for implementing Church Meeting decisions regarding the appointment of employees and other staff-related matters, including determining salaries. There is a contractual obligation to make payments to a workplace pension scheme for any employee. However, there is no contractual obligation to make termination payments in lieu of notice. Each case arising will be dealt with according to the circumstances and employment legislation in force at that time.

27 October 2025 Signed by order of the trustees on

…………………………………………………. ….......................................................... RS King (Secretary) J Durnford (Treasurer)

5

CHRIST CHURCH, IPSWICH

INDEPENDENT EXAMINER'S REPORT YEAR ENDED 31 DECEMBER 2024

I report to the Trustees on my examination of the accounts of Christ Church, Ipswich for the year ended 31 December 2024.

RESPONSIBILITIES AND BASIS OF REPORT

As the trustees of the charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011.

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

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 Charities Act 2011.

  2. the accounts do not accord with those records; or

  3. the accounts 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.

H Rumsey FCA Dch A Ensors Chartered Accountants Ipswich

28 October 2025

6

CHRIST CHURCH, IPSWICH

STATEMENT OF FINANCIAL ACTIVITIES YEAR ENDED 31 DECEMBER 2024

Notes
General
Designated
£
£
Income and Endowments from:
2
86,376
7,122
3
7,208
-
4
14,577
-
5
3,330
-
Total
111,491
7,122
6
114,529
5,523
Raising funds
7
-
110
114,529
5,633
Unrealised gain on investments
9
-
-
(3,038)
1,489
(210)
-
(3,248)
1,489
Reconciliation of Funds
48,606
245,074
45,358
246,563
Unrestricted Funds
Donations and legacies
Charitable activities
Investments
Other
Expenditure On:
Total funds carried forward
Charitable activities
Total
Net (expenditure)/income
Gross transfers between funds
Net movement in funds
Total funds brought forward		 Restricted
Funds
£
29,845
-
-
-
29,845
14,561
-
14,561
-
15,284
210
15,494
67,979
83,473		 Endowment
Fund
£
-
-
-
-
-
-
-
-
15,391
15,391
-
15,391
360,485
375,876		 Year ended
2024
£
123,343
7,208
14,577
3,330		 Year ended
2023
£
106,647
5,494
15,152
3,330
148,458 130,623
134,613
110
134,723
15,391
29,126
-
29,126
722,144
751,270		 135,591
110
135,701
12,864
7,786
-
7,786
714,358
722,144

All income and expenditure derive from continuing activities

The notes on pages 9 to 17 form part of these accounts

7

CHRIST CHURCH, IPSWICH

BALANCE SHEET AS AT 31 DECEMBER 2024

Note
Fixed Assets
Investments
9
Property
10
Equipment
11
Current assets
Debtors
12
Bank and other cash balances
Liabilities
Amounts falling due within 1 year
13
Net current assets
Net Assets
Funds
Unrestricted
Designated
17
Restricted
18
Endowment
9
Total Funds		 2024
2023
£
£
375,876
360,485
232,500
232,500
18,653
8,975
627,029
601,960
4,989
7,206
124,421
118,022
129,410
125,228
5,169
5,044
124,241
120,184
751,270
722,144
45,358
48,606
246,563
245,074
83,473
67,979
375,876
360,485
751,270
722,144

Approved by the deacons and signed on their behalf by:

……………………………………… ….................................................. R S King J Durnford Secretary Treasurer

Date: 27 October 2025

The notes on pages 9 to 17 form part of these accounts

8

CHRIST CHURCH, IPSWICH

NOTES TO THE ACCOUNTS YEAR ENDED 31 DECEMBER 2024

1 ACCOUNTING POLICIES

1a Basis of preparation

The accounts have been prepared in accordance with the 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 (FRS102).

The accounts have departed from the Charities' (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair' view. This departure has involved following the Statement of Recommended Practice applicable to Charities applying FRS102 rather than the version referred to in the regulations which has since been withdrawn.

The charity has taken advantage of the provisions in the SORP not to prepare a statement of Cash Flows.

The accounts are prepared in sterling, which is the functional currency. Monetary amounts in these accounts are rounded to the nearest £.

The accounts have been prepared on the going concern basis as the Committee have a reasonable expectation that the Church has adequate resources to continue operating for the forseeable future.

Christ Church, Ipswich is a public benefit entity as defined under FRS102. Assets and liabilities are initially recognised at historical cost or transaction value unless stated in the relevant accounting policy note.

The accounts include all transactions, assets and liabilities for which Christ Church, Ipswich is responsible in law. They do not include the accounts of church groups that owe their affiliation to another body, nor those that are informal gatherings of church members.

Unrestricted funds are available for use at the discretion of the church in furtherance of its charitable objectives and are not subject to restriction on their use. These are able to be applied for general purposes. Restricted funds are subjected to restrictions on their expenditure imposed by the donor, or contained in the terms of a grant.

Designated funds are funds earmarked at the discretion of the Trustees for specific projects or reserves.

Endowment funds are restricted funds held in Trust to generate investment income used for general purposes.

Property:

The property used as the manse is held in Trust by the Baptist Union Corporation but Christ Church, Ipswich is the beneficial owner. The property is stated at cost. No depreciation has been charged since it is the charity's policy to maintain the asset in a continual state of sound repair, and accordingly the Trustees consider that any depreciation charges would be insignificant. The value of the property is reviewed on a regular basis to consider if there has been any material change.

An informal valuation was carried out in March 2025 by a professional valuer.

The church buildings on the Tacket Street site are owned by URC Eastern Province Trust Fund for use by Christ Church, Ipswich. These are excluded from these accounts.

Expenditure incurred on the church, halls and manse is written off in the year it is incurred.

Equipment: Depreciation is provided at the following annual rates calculated to write off assets over their estimated useful lives where the initial purchase price of an asset exceeds £750:

Furniture and Heating Appliances 10% straight line (over 10 years) Audio/Visual Equipment 20% straight line (over 5 years) IT Equipment 33.33% straight line (over 3 years) Computer Software written off in the year of purchase Green -Eco - Solar panels over 25 years

Impairment of fixed assets

At each reporting date the Charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered any impairment 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).

1d Investments

The Baptist Union Corporation holds in trust, on behalf of the Baptist Building Fund, a capital sum derived from the sale of the Turret Green site. This sum has been invested and the investments are shown at market value. The difference in the closing market value from the preceding year is taken to the Statement of Financial Activities as an unrealised movement. The investments are regarded as endowment funds of Christ Church, Ipswich.

9

CHRIST CHURCH, IPSWICH

NOTES TO THE ACCOUNTS YEAR ENDED 31 DECEMBER 2024

1e Income

Income is included in the accounts when the charity has entitlement to the funds, any perfomance conditions attached to the item(s) of income have been met, it is probable that the income will be received and the amount can be measured reliably.

Voluntary income and donations are recognised as income when they are received.

Grants are recognised when they are receivable. Grants received for the purchase of fixed assets are written off over the useful economic life of the asset for which the grant was received.

Legacies are recognised when there is entitlement to the funds and it is probable that the income will be received. They are accounted for on an accruals basis.

Income from charitable activities is shown gross with associated costs included as charitable expenditure. The income is accounted for on accruals basis.

Income from fundraising activities is shown gross with associated costs included as charitable expenditure. The income is accounted for when received.

Investment income is included when receivable and the amount can be measured reliably by the Church.

All other income is generally recognised when it is receivable.

Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required, and the amount of the obligation can be measured reliably.

Charitable activities: Includes the costs of activities undertaken to further the purposes of the church and their associated support costs.

Costs of raising funds are shown gross.

1g Financial instruments Other than the fixed asset investments the charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are recognised in the Balance Sheet when the charity becomes party to the contractual provision of the instrument.

1h Cash at bank and in hand

Cash at bank and in hand includes cash and highly liquid investments.

1i Accounting estimates and areas of judgement Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. There are no critical accounting estimates. A professional valuer provided an estimate of the property value of the manse in January 2020 on an informal basis.

1j Taxation As part of the United Reformed Church, the church is an excepted charity within the meaning of the Taxes Act 1988 or s256 of the Taxation of Chargeable Gains Act 1992 to the extent that income and gains are applied to its charitable objects.

No provision for taxation has been made in these accounts.

1k Pensions

The church operates pension schemes compliant with the 2008 Pensions Act for the benefit of its employees. Contributions payable are charged to the Statement of Financial Activities in the year they are payable.

Provision is made for unused holiday pay at the period end.

10

CHRIST CHURCH, IPSWICH

NOTES TO THE ACCOUNTS YEAR ENDED 31 DECEMBER 2024

2
Donations and Legacies
General
£
Offerings
62,820
Income Tax refunds Gift Aid & GASD
14,881
Donations
8,675
Grants
-
Legacies
-
External Charities /Trans. income
-
External Charities/ Trans. Gift Aid
-
86,376
Comparative: 2023
93,194
3
Charitable activities
General
£
Church Lettings
6,505
Refreshments
703
7,208
Comparative: 2023
5,494
4
Investment Income
General
£
Dividends and distributions
8,788
Bank Interest
5,789
Totals
14,577
Comparative: 2023
15,152
5
Other Income
General
£
Car Parking
2,180
Ground rent from Turret Green Site
1,150
Totals
3,330
Comparative: 2023
3,330
6
Costs of activities in furtherance of the charity's objects
General
£
Denominations (URC & Baptist)
12,480
Ministerial Costs
39,945
Pulpit Supply
609
Other Ministry – Junior Church
215
Music
4,123
Communications
2,018
Heat and Light
9,011
Water
871
Insurance
10,980
Other running costs
486
Caretaker
18,670
Property
6,468
Grants payable & Restricted funds
passed on (see note 8)
1,328
Cost of events
2,717
Training & Education
450
Bank charges
-
Professional fees
-
Independent Examination
-
Depreciation
4,158
114,529
Comparative: 2023
108,242
Unrestricted F
Unrestricted F
Unrestricted F
Unrestricted F
Unrestricted F		 Designated
£
-
-
-
-
7,122
-
-
7,122
4,819
Designated
£
-
-
-
-
Designated
£
-
-
-
Designated
£
-
-
-
-
Designated
£
-
-
-
-
-
-
-
-
-
-
-
632
-
-
-
65
777
3,360
689
5,523
18,650
unds
unds
unds
unds
unds		 Restricted
Funds
2024
£
£
-
62,820
2,500
17,381
10,320
18,995
3,500
3,500
-
7,122
11,459
11,459
2,066
2,066
29,845
123,343
8,634
106,647
Restricted
Funds
2024
£
£
-
6,505
-
703
-
7,208
-
5,494
Restricted
Funds
2024
£
£
-
8,788
-
5,789
14,577
-
15,152
Restricted
Funds
2024
£
£
-
2,180
-
1,150
-
3,330
-
3,330
Restricted
Funds
2024
£
£
-
12,480
-
39,945
-
609
-
215
-
4,123
-
2,018
-
9,011
-
871
-
10,980
-
486
-
18,670
-
7,100
13,510
14,838
446
3,163
-
450
-
65
-
777
-
3,360
605
5,452
14,561
134,613
8,699
135,591		 2023
£
62,597
16,049
13,950
5,732
-
7,191
1,128
106,647
2023
£
4,800
694
5,494
2023
£
10,560
4,592
15,152
2023
£
2,180
1,150
3,330
2023
£
11,100
37,462
603
183
4,488
1,379
6,331
678
9,777
578
18,523
13,893
10,209
2,416
73
85
9,420
3,546
4,847
135,591

11

CHRIST CHURCH, IPSWICH NOTES TO THE ACCOUNTS YEAR ENDED 31 DECEMBER 2024

7
Raising Funds
Baptist Union Investment Fee
Comparative: 2023
8
Grants payable
Restricted gifts (Note 16)
Benevolent Fund
Special Grants / Donations
Comparative: 2023
9
Assets - Investments (Endowment Fund)
WS Epworth Multi- Asset Income
BUC Trust Fund		 General
£
-
-
-
General
£
-
-
1,328
1,328
1,825
Cost
£
293,110
84,702
377,812
Unrestricted F
Unrestricted F		 Designated
£
110
110
110
Designated
£
-
-
-
-
-
At 1
January
2024
£
275,364
85,121
360,485
unds
unds		 Restricted
Funds
2024
£
£
-
110
-
110
-
110
Restricted
Funds
2024
£
£
9,064
9,064
4,446
4,446
-
1,328
13,510
14,838
8,384
10,209
Realised
gain
Unrealised
Gain
£
£
-
15,391
-
-
-
15,391		 2023
£
110
110
2023
£
8,384
-
1,825
10,209
At 31
December
2024
£
-
290,755
85,121
375,876

The Epworth fund is an ethically and environmentally friendly investment.

Both of these funds are held by, and administered by, the Baptist Union Corporation Ltd on behalf of Christ Church, Ipswich. The income from these funds is available to Christ Church, Ipswich as unrestricted funds.

10 Assets Held for Church's own use i Manse 118 Larchcroft Road

The manse was purchased using monies from three sources. The Trustee of the Manse is the Baptist Union Corporation who hold it upon trust as a Manse for Christ Church, Ipswich.

The insured value of the building in 2024 was £385,712.

Financed by:
Cost at 1 January and 31 December 2024
Tacket Street Restricted Fund
Turret Green Restricted Fund
Christ Church Designated Fund		 £
232,500
34,819
33,000
67,819
164,681

A professional valuer, Henry Rose Estate Letting Agents, Ipswich provided an estimated value of £385,000 in April 2025, on an informal basis.

% of
Purchase
Price
14.98
14.19
70.83
Tacket Street Manse Fund – Restricted Fund
Turret Green Manse Fund – Restricted Fund
Christ Church Legacies Fund – Designated Fund		 Purchase
Price 2005 £
34,819
33,000
164,681
232,500

A sharing agreement of December 2014 governs the management of the manse.

12

CHRIST CHURCH, IPSWICH NOTES TO THE ACCOUNTS YEAR ENDED 31 DECEMBER 2024

10 (continued)

ii Church Buildings

The Trustees of the church and buildings on the Tacket Street site are the URC (Eastern Province) Trust Fund who hold them upon trust for purposes connected with Tacket Street URC.

.
Church -
Building
Contents
Organ
Hall -
Building
Contents
Church House –
Building		 2024
2023
£
£
14,135,497
12,620,979
389,283
347,571
1,460,528
1,304,042
3,492,336
3,118,157
103,898
92,766
263,138
234,944
Insured Value
19,844,680
17,718,459
11
Other assets
Cost
At 1 January 2024
Additions
At 31 December 2024
Depreciation
At 1 January 2024
Charge for year
At 31 December 2024
Net Book value 31 December 2024
Net Book value 31 December 2023
12
Debtors
Other debtors including Gift Aid claim
13
Current Liabilities
Creditors
Accruals
Total Liabilities		 Total
£
36,138
15,130
51,268
27,163
5,452
32,615
18,653
8,975		 Audio Visual
Equipment
£
20,790
-
20,790
16,632
4,158
20,790
-
4,158		 Solar
panels
£
£
15,348
-
-
15,130
Furniture
and Fittings
15,348
15,130
10,531
-
689
605
11,220
605
4,128
14,525
4,817
-
2024
2023
£
£
4,989
7,206
4,989
7,206
2024
2023
£
£
1,551
1,684
3,618
3,360
5,169
5,044

13

CHRIST CHURCH, IPSWICH

NOTES TO THE ACCOUNTS YEAR ENDED 31 DECEMBER 2024

14
Staff costs
Number of employees during the year
Employment costs
Wages and Salaries - Gross
Employer Pension costs - (see also note 19)		 2024
2023
2
2
2024
2023
£
£
47,496
44,427
5,294
4,705
52,790
49,132

Employers NIC – covered by Employment Allowance (2023 – covered by Employment Allowance).

No employee received emoluments in excess of £60,000 during the year. (2023 :NIL)

The minister (a trustee) received a stipend of £31,464 (2023: £29,160) and employer pension contributions were paid of £3,851 (2023: £3,331)

No redundancy or termination payments were made during the year. (2023:NIL)

Christ Church, Ipswich settled all Defined Benefit pension scheme liabilities during the year ended 31 December 2017 (see note 19).

No accrual for paid sick leave is required to be disclosed.

15 Relationship with Trustees

During the year the trustees donated £17,524 (unrestricted) to the church for the futherance of its objectives, and £2,648 which was restricted in character. (2023: Unrestricted £16,557, Restricted £2,260).

With the exception of the Minister no other trustee, nor any person connected to them, benefited from any contract or work awarded during the year.

The management is carried out without charge by volunteers. During the year six trustees were reimbursed expenses for postage and other running costs totalling £2617. (2023: Six trustees £3,315)

16 Donations passed to Other Charitable Causes

Christian Aid
Poppies Farm, Ipswich
Families in Need (FIND)
Suffolk Accident Rescue (SARS)
Home-Start Suffolk
The Leprosy Mission
Commitment for Life
Operation Agri
Traidcraft Exchange		 2024
2,023
£
£
2,601
2,135
1,441
-
880
780
-
1,554
1,194
1,039
993
1,040
895
804
899
830
161
202
9,064
8,384

14

CHRIST CHURCH, IPSWICH

NOTES TO THE ACCOUNTS YEAR ENDED 31 DECEMBER 2024

17 Designated Funds

The church operates the following Designated Funds:

Church Redecoration Fund Kitchen Equipment Replacement Fund General Repairs Fund Church Heating Fund Organ Repairs Fund Manse Maintenance Fund Professional Fees Fund Church House Maintenance & Repair Fund Vision Fund Legacies Fund Manse Property Fund

The Church Redecoration Fund, the Church Heating Fund and the General Repairs fund are intended to fund large infrequent projects, as described in their titles. Authority to spend is the Church Meeting.

The Kitchen Equipment Replacement Fund and Organ Repairs Fund are intended to smooth out the impact of expenses which often fluctuate widely between years.

The Professional Fees fund has been introduced to recognise the very erratic nature of Professional Fees which can vary from nearly nothing in some years to many thousands of pounds in others. The use of a fund smooths the impact on General funds.

The Church House & The Manse Maintenance & Repair Funds have been introduced to help spread the impact.

The Vision Fund will be used to fund expenditure to make the premises more welcoming, generally improve the premises and the experience of visitors.

The Legacy fund will be used to assist with future work or used to fund appropriate capital items that may be required.

The Manse property fund (note 10) represents the proportion of the purchase cost financed by designated funds.

Authority to spend over £4,000 lies with the Church Meeting. For lower sums it lies with the Finance Committee on the recommendation of the Property Committee.

Church Redecoration Fund
Kitchen Equipt. Replacement Fund
General Repairs Fund
Church Heating Fund
Organ Repairs Fund
Manse Maintenance Fund
Professional Fees Fund
Church House Maintenance Fund
Vision Fund
Legacies Fund
Manse Property
Church Redecoration Fund
Kitchen Equipt. Replacement Fund
General Repairs Fund
Church Heating Fund
Organ Repairs Fund
Manse Maintenance Fund
Professional Fees Fund
Church House Maintenance Fund
Vision Fund
Legacies Fund
Manse Property		 Balance at
1 Jan 24
£
25,562
2,964
2,673
26,002
6,884
5,901
1,117
1,705
4,610
2,975
164,681
245,074
Balance at
1 Jan 23
£
35,562
3,076
255
26,002
6,884
6,018
6,830
2,122
4,610
2,975
164,681
259,015		 Incoming
Resources
£
-
-
-
-
-
-
-
-
-
7,122
-
7,122
Incoming
Resources
£
-
-
2,371
-
-
-
2,448
-
-
-
-
4,819		 Resources
Gross
Expended
Transfers
£
£
-
(4,062)
(132)
-
-
-
-
-
-
-
(1,189)
-
(4,312)
4,062
-
-
-
-
-
-
-
(5,633)
-
Resources
Gross
Expended
Transfers
£
£
-
(10,000)
(112)
-
(3,953)
4,000
-
-
-
-
(1,117)
1,000
(13,161)
5,000
(417)
-
-
-
-
-
-
-
(18,760)
-		 Balance at
31 Dec 24
£
21,500
2,832
2,673
26,002
6,884
4,712
867
1,705
4,610
10,097
164,681
246,563
Balance at
31 Dec 23
£
25,562
2,964
2,673
26,002
6,884
5,901
1,117
1,705
4,610
2,975
164,681
245,074

15

CHRIST CHURCH, IPSWICH NOTES TO THE ACCOUNTS YEAR ENDED 31 DECEMBER 2024

18 Restricted Funds

The church accounts include Restricted Funds where the monies can only be used for the specific purpose for which they were entrusted in the church. These monies are not at the disposal of the Church Meeting for any other purpose and represent:

Transient Restricted Fund for external charities

Transient Expenditure Fund

Used for the proceeds of offerings and donations for other charities. The purpose is to record this giving while the proceeds are in the custody of the church before being remitted to the charity.

Used to record the payments made by individuals for future payment of publication subscriptions, outings etc. prior to purchasing goods and services in bulk.

To record grants received and monies spent for this annual project.

Holiday at Home To record grants received and monies spent for this annual project. Manse Property Represents the proportion of the purchase cost financed by restricted funds Green-Eco Fund Funds for specific eco projects

Transient Restricted Fund -
External Charities (note 16)
Transient Expenditure Fund
Holiday at Home
Manse Property
Green-Eco Fund		 Balance at
£
160
-
-
67,819
-
67,979
1 Jan 24		 Incoming
Resources
£
9,079
4,446
320
-
16,000
29,845		 Resources
Expended
Transfers
£
£
(9,064)
1
(4,446)
-
(446)
126
-
-
(605)
83
(14,561)
210		 Balance at
31 Dec 24
£
176
-
-
67,819
15,478
83,473
Transient Restricted Fund -
External Charities (note 16)
Transient Expenditure Fund
Holiday at Home
Manse Property
Church Repairs		 Balance at
£
225
-
-
67,819
-
68,044
1 Jan 23		 Incoming
Resources
£
8,319
-
315
-
-
8,634		 Resources
Expended
Transfers
£
£
(8,384)
-
-
-
(315)
-
-
-
-
-
(8,699)
-		 Balance at
31 Dec 23
£
160
-
-
67,819
-
67,979

19 Pensions

Minister

From 1 September 2018 onwards the church had the services of a Minister. The Church is an employer participating in a pension scheme known as the Baptist Pension Scheme (“the Scheme”). The Scheme is a separate legal entity which is administered by the Pension Trustee (Baptist Pension Trust Limited).

The minister is eligible to join the scheme.

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 Legal and General Life Assurance Society Limited. In addition, the employer pays a further 4% of Pensionable Income (or 3% if the employer is in the segregated DC section) to cover Death in Service Benefits, administration costs and an associated insurance policy which provides income protection for Scheme members in the event that 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. Members of the Basic Section pay reduced contributions of 5% of Pensionable Income and their employers also pay a total of 5%.

Benefits in respect of service prior to 1 January 2012 are provided through the Defined Benefit Plan within the Scheme. The main benefits for pre-2012 service were a defined benefit pension of one eightieth of Final Minimum Pensionable Income for each year of Pensionable Service, together with additional pension in respect of premiums paid on Pensionable Income in excess of Minimum Pensionable Income.

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.

16

CHRIST CHURCH, IPSWICH

NOTES TO THE ACCOUNTS YEAR ENDED 31 DECEMBER 2024

19 (continued)

A formal evaluation of the Defined Benefits Plan was performed at 31 December, 2016 by a professionally qualified Actuary using the Projected Unit Method. The market value of the DB Plan assets at the valuation date was £219 million. The valuation of the DB Plan revealed a deficit of assets compared with the value of liabilities of £93 million (equivalent to a past service funding level of 70%). As a result of the valuation, in addition to the contributions to the DC plan set out above, it was agreed that the standard rate of deficiency contributions from churches and other employers involved in the DB plan will remain at previously agreed levels, increasing each year in line with Pensionable Income. The deficiency contributions are broadly based on 12% of Pensionable Income / Minimum Pensionable Income, reflecting each employer's contributions in March 2015. Some employers that were involved in the DB Plan for a short period pay lower contributions.

Christ Church, Ipswich made a payment in respect of the DB scheme deficit each month as set out in the Schedule of Contributions. In March 2017 Christ Church, Ipswich was advised that the cost for the church to buy out their Pension Scheme liabilities was £62,381.12 and it was decided that this payment should be made at that time. The church is now absolved from all its liabilities of this DB Scheme.

The total pension cost to the Church in 2024 was £3,851 (2023 : £3,331).

Caretaker

Pension contributions are paid to a defined contribution pension scheme on behalf of the caretaker. From April 2016 the Pension provision is provided by NEST to comply with the new pension regulations. The total pension cost for the Church in 2024 was £1,443 (2023: £1,374).

No contributions were outstanding at the Balance Sheet date.

20 Analysis of net assets between funds

Investments
Property
Other Fixed Assets
Current Assets
Current Liabilities		 Unrestricted
£
-
-
4,128
46,399
(5,169)
45,358		 Designated
£
-
164,681
-
81,882
-
246,563		 Restricted
Endowment
£
£
-
375,876
67,819
-
14,525
-
1,129
-
-
-
83,473
375,876		 2024
Total
£
375,876
232,500
18,653
129,410
(5,169)
751,270
Investments
Property
Other Fixed Assets
Current Assets
Current Liabilities		 Unrestricted
£
-
-
8,975
44,675
(5,044)
48,606		 Designated
£
-
164,681
-
80,393
-
245,074		 Restricted
Endowment
£
£
-
360,485
67,819
-
-
-
160
-
-
-
67,979
360,485		 2023
Total
£
360,485
232,500
8,975
125,228
(5,044)
722,144

21 Post Balance Sheet Events

A transfer of £30,000 is to be made from the BUC Turret Green Funds (endowment) to the church funds. The revised sharing agreement, between the Baptist Union Corporation and the United Reformed Church Synod has been signed but the process is still to be completed . The transfer is to assist with the building works completed in 2022.

Towards the end of 2024, the caretaker requested changes to contract with a reduction of working hours from 35 to 25 hours per week. She and her husband would vacate the on-site property which had been provided and move to accommodation nearby.

It was decided to engage a property agent to put the property on the rental market. Ultimately this would provide income to the church estimated £900 pcm but expense is necessary to prepare the property, estimated at £10,000 to £12,000.

In January 2025, the Minister indicated that he wished to vacate the Manse provided and to purchase his own property. A Housing Allowance of £900 pcm will be paid instead of utility etc.costs, in addition to the stipend. It was decided to engage a property agent to put the property on the rental market. Ultimately this would provide income to the church estimated £1,400 pcm but expense is necessary to prepare the property, estimated at £3,500 to £5,000.

17