WATNALL ROAD BAPTIST CHURCH
REPORT OF THE TRUSTEES AND
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024
Charity Number 1144186
A R R Price Limited Chartered Accountants 17 Newstead Grove Nottingham NG1 4GZ
Watnall Road Baptist Church
Annual Report and Financial Statements for the year ended 31 March 2024
| Contents | Page |
|---|---|
| Trustees' Annual Report | 1 to 6 |
| Independent Examiner's Report to the Trustees | 7 |
| Statement of Financial Activities | 8 |
| Balance Sheet | 9 |
| 10 to 20 | |
| Notes to the Accounts |
Watnall Road Baptist Church
Annual Report and Financial Statements for the year ended 31 March 2024
Trustees' Annual Report Year Ended 31st March 2024
The Trustees present their report and the unaudited financial statements of the Charity for the year ended 31st March 2024.
Reference and Administrative Details
Registered Charity Name Watnall Road Baptist Church
Charity Registration 1144186
Number Principal Office Watnall Road Hucknall Nottingham NG156SG
The Trustees Rev S J Robinson Mr L O’Kane (resigned 31 August 2023) Miss L J Buckley (resigned 31 March 2024) Mrs L Cain Mrs Y Campbell Mr T L Clay Mr AJ Clay Mrs K E Cooper Mrs F Daft (resigned 16 April 2024) Mrs A Francis Mr M Hodge Dr E H McVicar (resigned 16 April 2024)
Accountants
A R R Price Limited Chartered Accountants 17 Newstead Grove Nottingham NG1 4GZ
1
Watnall Road Baptist Church
Annual Report and Financial Statements for the year ended 31 March 2024
Structure, Governance and Management
Members of the Church are accepted in accordance with the Constitution which requires them to be baptised by immersion upon personal profession of faith or persons seeking membership who have not been baptised in the manner described in the Union's Declaration of Principle, may at the discretion of the Church Members' Meeting be accepted for full membership based on their own public profession of faith.
Church Members shall meet together in a Church Members' Meeting under the guidance of the Holy Spirit and under the Lordship of Christ to discern the mind of God in the affairs of the Church.
The Church Members' Meeting shall have reserved authority in the appointment and removal of a Minister, the appointment and removal of Charity Trustees, decisions related to church property including (without limitation) any purchase, sale, lease, mortgage, or redevelopment of property, the administration of the membership list, and the closure of the Church.
Objectives and Activities
Charitable Objects
The Charity is governed by a constitution that states that the principal purpose of the Church is the advancement of the Christian faith according to the principles of the Baptist denomination. The Church may also advance education and carry out other charitable purposes in the United Kingdom and/or other parts of the World.
In setting our objectives and planning our activities our Trustees have given careful consideration to the Charity Commission's public benefit guidance.
Objectives and Activities
In order to achieve the principal objective, which is set out above, the Church provides a variety of activities, both to its membership and to the community generally. The aim is to show the love of Jesus Christ in both word and deed and to bring people into a closer relationship with Him and living Lord.
Central to work and witness of the Church is the provision of regular public services of Christian worship. These services take place each Sunday at 10.15. am and on the third Sunday of each month at 4.00 pm.
There is a full children's programme during the morning services. The Church seeks to be a friendly and welcoming community, and anybody is free to attend any of these services.
The Church runs a series of house groups for the growth of faith and discipleship in the homes of some Members.
The Church is responsible for a Toddler Group which meets in the Church premises on Wednesday and Thursday afternoons, with the purpose of assisting the community and demonstrating the love of Jesus Christ. From time to time the Church runs courses in parenting, and courses for people interested in discovering more about Christianity, entitled 'Just Looking' and 'Alpha'.
In fulfilling the Purpose, the Church will engage in a range of activities either on its own or with others that will vary from time to time with activities be initiated, expanded, or closed, as appropriate. The activities included "regular public worship, prayer, Bible study, preaching and teaching", baptism, as defined in the Union's Declaration of Principle;
"the Communion of the Lord's Supper which is observed at least once a month"; evangelism and mission, locally, regionally, nationally and internationally"; the teaching, encouragement, welcome and inclusion of young people;
"nurture and growth of Christian disciples";
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Watnall Road Baptist Church
Annual Report and Financial Statements for the year ended 31 March 2024
Objectives and Activities (Continued)
"education and training for Christian and community service"; "giving and encouraging pastoral care"; "supporting and encouraging charitable social action in the United Kingdom and abroad";
"encouraging relationships with and supporting Baptists and other Christians"
The Church operates systems to ensure that all people working with children and vulnerable adults are appropriately vetted by the Disclosure and Barring Service.
The Church has read the Charity Commission guidance on public benefit and is satisfied that the activities outlined above clearly demonstrate that the Charity is providing a benefit to the public.
Minister’s Report
We have been continually blessed by God this year as we seem to be welcoming new people worshipping with us each week. The people who have joined us have been a great help and encouragement to us all and I am very pleased with the way they have been welcomed.
There have been significant changes in the staffing as we said farewell to Liam O’Kane as he started his training for ordained ministry and to Lisa Buckley whose time as our Children and Families Worker came to an end.
At the time of writing this report we have appointed Matt Little as our new Youth Team Leader and he starts with us in September. We have tried to be patient as the timing for Matt’s appointment took longer than we had hoped, but now we know why God made us wait. His timing is always perfect. And so, we pray for the appointment of our new Children and Families Team Leader, confident of God’s answer to our prayers as we build a team of leaders willing and able to lead us forward.
I am very optimistic as I look forward to our next year together and I feel that having made such great contacts with our community it is time to think about I can equip and encourage this church to share the good news of Jesus in a clear and gentle, relational way alongside all the great things that we do in the community. The great commandment – to love the Lord God with all our heart soul and mind and to love our neighbour as ourselves. And the great commission – to go out into all the world and make disciples – go hand in hand.
I feel we have all been blessed by being part of the Further Faster network of churches and thank the fellowship for allowing Ben Marshall and I to attend Drive Conference in Atlanta in April. We have continued to run Alpha and follow-on course of first steps, and I am thankful to Rev Colin Bones for his leadership.
In the February half-term, we ran a very successful holiday club and welcomed around 80 children for three days of fun, games and sharing together. I wasn’t directly involved in the Club, but I was pleased to help where I could, and it was great! I found it particularly useful to chat to the parents and was very encouraged with the way the team worked together. The highlight each day was ‘the grumpy old man’ who delighted the children. I hope this has helped break-down some barriers to families and church. Thank you to all who led and helped with this. With thanks for all you do in His service
Blessings
Rev Simon J Robinson MA Lead Minister
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Watnall Road Baptist Church
Annual Report and Financial Statements for the year ended 31 March 2024
Financial Review
The financial statements for the year ended 31st March 2024 are presented in the format for submission to the Charities Commission. The statement of financial activities and the balances are accompanied by a series of notes. These notes provide details to help our understanding of the main statements and are contained on pages 10 to 20 of the accounts. Note 1 states the basis of the accounts in accordance with the requirements of the Charities Act 2011.
In summary: Incoming resources of £189,887 (£201,895 in 2022/23) Resources expended of £179,010 (£205,489 in 2022/23) Net income (expenditure) £10,877 ((£3,594) in 2022/23) Actual gains on defined benefit pension scheme £0 (£14,134 gain in 2022/23) Net movement in funds £10,877 (£10,540 in 2022/23)
Total income was £12,008 less than the previous year, whilst expenditure was £26,839 less than 2022-23 resulting in a surplus of £10,877 compared with a deficit of £3,594 in the previous year (before actuarial gains and losses in the deferred benefit pension scheme).
The following table shows how we performed compared with the previous financial year in more detail and how we performed compared with the budget the Church agreed for 2023-24.
| 2022-23 | income | 2023-24 | 2023-24 | 2023-24 |
|---|---|---|---|---|
| actual | Variance | |||
| actual to | ||||
| budget | actual | budget | ||
| £ | £ | £ | £ | |
| 172,339 | donations and legacies | 137,740 | 158,977 | 21,237 |
| 8,775 | rent received | 10,250 | 8,901 | -1,349 |
| 11,912 | engage gifts | 13,820 | 10,760 | -3,060 |
| 111 | interest | 1,600 | 1,877 | 277 |
| 8,758 | coffee shop | 10,000 | 9,372 | -628 |
| 201,895 | total income | 173,410 | 189,887 | 16,477 |
Within the donations and legacies total, offertory income increased by 3.8% and was £13,206 more than budget as a result of new people being welcomed into fellowship and committing to the Church. The increase in interest resulted from the investment of £40,000 on a fixed, one year term with the Baptist Union Corporation. Income from the coffee shop continued to increase, however turnover at Engage Gifts fell by £1,152 to £10,760. Engage Gifts made an operating loss of £3,210 and with a new landlord having acquired the property and notifying us of his intention to double the rent, the decision has been taken to cease trading at the end of November 2024.
.
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Watnall Road Baptist Church
Annual Report and Financial Statements for the year ended 31 March 2024
| 2022-23 | expenditure | 2023-24 | 2023-24 | 2023-24 | |
|---|---|---|---|---|---|
| actual | Variance | ||||
| actual to | |||||
| budget | actual | budget | |||
| £ | £ | £ | £ | ||
| 13,588 | engage gifts | 13,820 | 13,970 | -150 | |
| 191,901 | expenditure on charitable activities: | 175,552 | 165,040 | 10,512 | |
| 205,489 | total expenditure | 189,372 | 179,396 | -10,362 | |
| 201,895 | total income | 173,410 | 189,887 | 16,477 | |
| -3,594 | surplus or(deficit)for theyear | -15,962 | 10,877 | 26,839 |
Expenditure on charitable activities was £10,512 less than the budget and £26,861 less than the previous year. The table below shows an analysis of this variance. Whilst ministry costs were £10,518 less than budget as a result of our inability to appoint a new Youth Worker, expenditure on the upkeep of premises was also below budget by £3,106.
| 2022-23 | expenditure on charitable activities: | expenditure on charitable activities: | 2023-24 | 2023-24 | 2023-24 |
|---|---|---|---|---|---|
| actual | Variance | ||||
| actual to | |||||
| budget | actual | budget | |||
| £ | £ | £ | £ | ||
| 97,256 | ministry | 98,749 | 88,231 | -10,518 | |
| 35,387 | mission | 28,430 | 31,496 | 3,066 | |
| 58,270 | upkeep of church premises | 47,373 | 44,267 | -3,106 | |
| 988 | governance costs | 1,000 | 1,046 | 46 | |
| total expenditure on charitable | |||||
| 191,901 | activities | 175,552 | 165,040 | -10,512 |
It is pleasing to note that support for mission was £3,066 more than we had budgeted, with giving to other causes being £3,570 more than forecast and included:
| causes being £3,570 more than forecast and included: | |
|---|---|
| BMS World Mission | £7,415 |
| BMS Home Mission | £7,415 |
| BMS Harvest Appeal | £500 |
| BMS Syria and Turkey Earthquake Appeal | £568 |
| Framework (Christmas Card) | £683 |
| Grahamstown Baptist Church (Coffee Morning) | £977 |
| Welcome Churches | £360 |
| BMS Birthday Scheme (only includes giving via the Church bank account) | £427 |
5
Watnall Road Baptist Church
Annual Report and Financial Statements for the year ended 31 March 2024
The Balance Sheet (Financial Position at 31 March 2024)
-
The balance sheet shows total net assets at the year-end of £422,757 (£411,880 at 31 March 2023).
-
Cash at the year-end was £133,743 compared with £110,156 at the previous year-end.
-
Net current assets totalled £157,340, an increase of £19,289 over the previous year-end.
Of these net current assets:
Engage Gifts stock at cost price £16,666 Engage Gifts cash £8,161 Restricted funds (amounts given for specific purposes) £1,777 Emergency Fund £40,000 Unallocated £93,399
Debtors included £14,927 gift aid whilst cash holdings include £81,697 invested with the Baptist Union Corporation on a fixed one-year term with 5% interest.
The trustees annual report was approved on and signed on behalf of the trustees by:
Rev S J Robinson Trustee
Ms. Jane Brierley Charity secretary
6
Watnall Road Baptist Church
Annual Report and Financial Statements for the year ended 31 March 2024
Independent Examiner's Report to the Trustees of Watnall Road Baptist Church
Year Ended 31st March 2024
I report on the financial statements for the year ended 31st March 2024, which comprise the statement of financial activities, statement of financial position and the related notes set out on pages 9-20.
Responsibilities and Basis of Report
As the Charity Trustees of the Trust, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).
I report in respect of my examination of the Trust’s accounts 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 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 Trust as required by Section 139 of the Act; or
-
2 The accounts do not accord with these 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 to enable a proper understanding of the accounts to be reached.
Adrian R R Price FCA For and on behalf of A R R Price Limited Institute of Chartered Accountants in England and Wales
17 Newstead Grove NOTTINGHAM NG14GZ
7
Watnall Road Baptist Church
Annual Report and Financial Statements for the year ended 31 March 2024
| notes Income and endowments donations and legacies 4 charitable activities 5 other trading activities 6 investment income 7 coffee shop 8 total income Expenditure Expenditure on raising funds: Costs of other trading activities 9 Expenditure on charitable activities 10/11 Total expenditure Net (Expenditure)/Income and net movement in funds Actuarial Gains/(Losses) on Deferred Benefit Pension Scheme Net Movement in Funds Reconciliation of funds Total funds brought forward Total funds carried forward |
2024 2023 Unrestricted Restricted Total total Funds Funds Funds funds £ £ £ £ 155,407 3,570 158,977 172,339 8,901 - 8,901 8,775 10,760 - 10,760 11,912 1,877 - 1,877 110 9,372 - 9,372 8,758 |
|---|---|
| 186,317 3,570 189,887 201,895 |
|
| 13,970 - 13,970 13,588 161,470 3,570 165,040 191,901 |
|
| 175,440 3,570 179,010 205,489 |
|
| 10,877 0 10,877 (3,594) 0 0 0 14,134 |
|
| 10,877 0 10,877 10,540 410,103 1,777 411,880 401,340 |
|
| 420,980 1,777 422,757 411,880 |
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
8
Watnall Road Baptist Church
Annual Report and Financial Statements for the year ended 31 March 2024
Statement of Financial Position
Year Ended 31st March 2024
| notes Fixed Assets Tangible Fixed Assets 15 Current assets Stocks 16 Debtors 17 Cash at Bank and in Hand Creditors: amounts falling due within one year 18 Net Current Assets Provision for Liabilities Defined benefit pension liability 19 Net Assets Funds of the Charity Unrestricted Funds Restricted Funds Total charity funds 20/21 |
2024 £ £ 265,444 16,666 16,097 133,743 166,506 (9,166) 157,340 422,784 27 422,757 420,980 1,777 422,757 |
2023 £ 273,868 17,200 18,004 110,156 |
|---|---|---|
| 166,506 (9,166) |
145,360 (7,309) |
|
| 138,051 | ||
| 411,919 39 411,880 |
||
| 410,103 1,777 |
||
| 411,880 |
These financial statements were approved by the Board of Trustees and authorised for issue on and are signed on behalf of the Board by:
Rev S J Robinson Trustee
The notes on pages 10 to 20 form part of these financial statements
9
Watnall Road Baptist Church
Annual Report and Financial Statements for the year ended 31 March 2024
1 General Information
The Charity is a registered Charity in England and Wales and is unincorporated. The address of the principal office is 33 Watnall Road, Hucknall, Nottingham, NG15 6SG.
2 Statement of Compliance
These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (Charities SORP (FRS 102)) and the Charities Act 2011.
3 Accounting Policies
Basis of Preparation
The financial statements are prepared in sterling, which is the functional currency of the entity. The financial statements have been prepared under the historical cost convention. The financial statements have been prepared in accordance with the requirements of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015) (SORP 2015).
Going Concern
There are no material uncertainties about the Charity's ability to continue.
Disclosure Exemptions
The entity satisfies the criteria of being a qualifying entity as defined in FRS 102. As such, advantage has been taken of the following disclosure exemptions available under paragraph 1.12 of FRS 102: (a) No cash flow statement has been presented for the Charity.
Fund Accounting
Unrestricted funds are available for use at the discretion of the Trustees in furtherance of the purposes of the Charity. Designated funds are unrestricted funds earmarked by the Trustees for specific purposes. Restricted funds are subjected to restrictions on their expenditure imposed by the donor or by an appeal.
Incoming
Resources
Income
All income is included in the statement of financial activities when the Charity is entitled to the income, any performance related conditions attached have been met or are fully within the control of the Charity, the income is considered probable, and the amount can be quantified with reasonable accuracy. The following specific policies are applied to particular categories of income.
-
Donations and legacy income are received by way of donations, legacies, grants and gifts and is included in full in the statement of financial activities when receivable. Where legacies have been notified to the Charity but the criteria for income recognition have not been met, the legacy is treated as a contingent asset and disclosed if material.
-
Grants, where entitlement is not conditional on the delivery of a specific performance by the Charity, are recognised when the Charity becomes unconditionally entitled to the grant.
-
Investment income is included when receivable.
-
-
Income from charitable trading activity is accounted for when earned.
10
Watnall Road Baptist Church
Annual Report and Financial Statements for the year ended 31 March 2024
3 Accounting Policies (Continued)
Resources Expended
Expenditure
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered and is reported as part of the expenditure to which it relates.
-
Charitable expenditure comprises those costs incurred by the Charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
-
Other expenditure includes all expenditure that is neither related to raising funds for the Charity nor part of its expenditure on charitable activities.
-
All costs are allocated between the expenditure categories of the SOFA on a basis designed to reflect the use of the resource. Costs relating to a particular activity are allocated directly, others are apportioned on an appropriate basis, as set out in the notes to the accounts.
Tangible Assets
All fixed assets are initially recorded at cost and are subsequently stated at cost less any accumulated depreciation.
All assets where the cost of the item is over £1,000 are capitalised.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Church premises 2% straight line Equipment 20% reducing balance
The Manse is not depreciated since the Trustees consider the residual value to be well in excess of the carrying value.
Land is not depreciated.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash generating unit to which the asset belongs. The cash generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or group of assets.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition
11
Watnall Road Baptist Church
Annual Report and Financial Statements for the year ended 31 March 2024
3 Accounting Policies (Continued)
Financial Instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar instrument. Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted.
Pensions
Defined Contribution Plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
Defined Benefit Plans
The Church is an employer participating in The Baptist Pension Scheme (The BPS) in respect of making deficit payments for past service of Ministers.
Where the plan is in deficit and where the Church has agreed with the plan to participate in a deficit funding arrangement the Church recognises a liability for this obligation. The amount recognised is the net present value of the contributions payable under the agreement that relates to the deficit. The amount is expensed in the Statement of Financial Activities. The unwinding of the discount is recognised as a finance cost.
A liability for the agreed pension deficit is shown on the balance sheet.
12
Watnall Road Baptist Church
Annual Report and Financial Statements for the year ended 31 March 2024
| 4 donations and legacies offerings donations income tax recovered on gifts raised for other causes other legacies total donations and legacies 5 charitable activities rents and contributions for use of premises 6 other trading activities shop income - engage gifts 7 investment income bank interest receivable 8 other income coffee shop 9 costs of other trading activities purchases stock movement rent rates utilities insurance sundry Total cost of other trading activities |
unrestricted restricted total funds funds funds 2024 £ £ £ 123,831 - 123,831 1,141 - 1,141 29,508 286 29,794 - 3,284 3,284 927 - 927 - - - 155,4073,570 158,977 8,901 - 8,901 10,760 - 10,760 1,877 - 1,877 9,372 - 9,372 6,657 - 6,657 (153) - (153) 4,420 - 4,420 141 - 141 2,316 - 2,316 511 - 511 79 79 13,970 - 13,970 |
total funds 2023 £ 119,338 1,875 29,431 7,415 - 14,280 |
|---|---|---|
| 172,339 | ||
| 8,775 | ||
| 11,912 | ||
| 111 | ||
| 8,758 | ||
| 8,023 (2,327) 4,420 492 2,500 480 0 |
||
| 13,588 |
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Watnall Road Baptist Church
Annual Report and Financial Statements for the year ended 31 March 2024
10 expenditure on charitable activities
| ministry wages and salaries employer's NIC & SSP pension costs manse upkeep minister's books and materials minister's travel mentoring costs visiting ministers ministry sub total support costs wages and salaries pension costs telephones inc mobiles printing and stationery subscriptions website courses and conferences finance costs – pension deficit sundry expenses support costs sub total total ministry mission given to other causes children, families and young people worship group/AV flowers coffee shop catering Renew 34 outreach total mission |
2024 unrestricted restricted total £ £ £ 67,087 - 67,087 2,265 - 2,265 5,958 - 5,958 3,171 - 3,171 687 - 687 397 - 397 160 - 160 475 - 475 80,200 - 80,2007 - - - - - - 1,175 - 1,175 2,758 - 2,758 2,322 - 2,322 814 - 814 894 - 894 - - - 68 - 68 8,031 - 8,031 88,231 - 88,231 15,260 3,570 18,830 1,903 - 1,903 1,824 - 1,824 40 - 40 7,592 - 7,592 250 - 250 584 - 584 473 - 473 27,926 3,570 31,496 |
2023 total £ 73,712 1,538 6,895 3,402 320 375 80 680 |
|---|---|---|
| 87,001 | ||
| 2,491 192 1,620 2,577 1,927 - 761 388 299 |
||
| 10,255 | ||
| 97,256 | ||
| 25,189 1,599 28 146 7,553 14 858 - |
||
| 35,387 |
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Watnall Road Baptist Church
Annual Report and Financial Statements for the year ended 31 March 2024
10. expenditure on charitable activities
| upkeep of church premises wages and salaries employer's NIC pension costs light and heat repairs and maintenance furniture insurance cleaning depreciation - land and buildings depreciation – equipment support costs telephone printing and stationery subscriptions website courses and conferences finance costs (pension deficit) sundry expenses Total upkeep of church premises governance costs examiner's fee Total Expenditure |
2024 unrestricted restricted total £ £ £ 11,367 - 11,367 31 - 31 555 - 555 11,262 - 11,262 3,119 - 3,119 713 - 713 3,871 - 3,871 2,746 - 2,746 5,867 - 5,876 3,902 - 3,902 43,432 - 43,432 131 - 131 306 - 306 258 - 258 90 - 90 42 - 42 - - - 8 - 8 835 - 835 44,267 - 44,267 1,046 - 1,046 161,470 3,570 165,040 |
2023 total £ 10,234 56 430 9,131 20,541 - 3,924 2,426 5,867 4,542 |
|---|---|---|
| 57,241 | ||
| 71 286 214 - 84 43 33 |
||
| 1,029 | ||
| 58,270 | ||
| 988 | ||
| 191,901 |
15
Watnall Road Baptist Church
Annual Report and Financial Statements for the year ended 31 March 2024
| 11 Analysis of expenditure on charitable activities 2024 ministry mission upkeep of church premises governance costs Analysis of expenditure on charitable activities 2023 ministry mission upkeep of church premises governance costs 12 independent examination fees fees payable for: independent examination of financial statements 13 staff costs wages and salaries social security costs employer contributions to pensions manse costs number of ministry staff number of caretaker staff |
activity support costs £ £ 80,200 8,031 31,496 - 43,432 835 1,046 - |
total funds £ 88,231 31,496 44,267 1,046 |
|---|---|---|
| 156,174 8,866 |
165,040 |
|
| 87,002 10,254 35,387 - 57,241 1,029 988 - |
97,256 35,387 58,270 988 |
|
| 180,618 11,285 |
191,901 | |
| 2024 1,046 78,454 2,296 6,513 3,171 90,434 3 1 4 |
2023 988 |
|
| 84,804 1,595 7,538 3,402 |
||
| 99,339 | ||
| 3 1 |
||
| 4 |
14 Trustee Remuneration and expenses
Reverend SJ Robinson was a trustee of the Church and was also employed as the Lead Minister. A salary and pension totalling £40,156 was paid to him in his capacity as Lead Minister.
Miss L J Buckley was a trustee of the Church and was also employed as Children and Families Worker. A salary, pension and settlement agreement totalling £26,049 was paid to her in this capacity. Mr L O’Kane was a trustee of the Church until 31 August 2023 and was also employed as the Youth Worker. A salary and pension totalling £10,402 was paid to him in this capacity
These payments are made under the provisions of the constitution of the Charity.
No expenses have been paid to Trustees in carrying out their Trustee duties.
There are no employees who received total employee benefits of more than £60,000.
16
Watnall Road Baptist Church
Annual Report and Financial Statements for the year ended 31 March 2024
15 Tangible Fixed Assets
| cost at 1 April 2023 additions at 31 March 2024 depreciation at 1 April 2023 charge for the year at 31 March 2024 carrying amount at 31 March 2024 at 31 March 2023 16 Stocks stocks for resale 17 Debtors income tax recoverable other debtors and prepayments total debtors 18 Creditors: amounts falling due within one year tax and social security other creditors total creditors |
Land and Equipment Total buildings £ £ £ 554,589 50,511 605,100 - 1,345 1,345 554,589 51,856 606,445 |
|---|---|
| 298,887 32,345 331,231 5,867 3,902 9,769 304,754 36,247 341,001 |
|
| 249,835 15,609 265,444 |
|
| 255,702 18,167 273,868 2024 2023 £ £ 16,666 17,200 2024 2023 £ £ 14,927 15,401 1,1702,603 16,097 18,004 2024 2023 £ £ 1,036 1,332 8,1305,977 9,166 7,309 |
17
Watnall Road Baptist Church
Annual Report and Financial Statements for the year ended 31 March 2024
19 Pensions and Other Post Retirement Benefits
On 1[st] July 2022 and agreement was signed with Just Group to secure DB plan members’ pension benefits as a ‘buy in policy’, providing for all DB pensions provided through the scheme’s DB plan.
The time to complete the exercise of setting up individual pension arrangements is anticipated to complete towards the end of 2024. Until the buy-out and wind up are complete not all risks relating to the DB plan are removed. The uncertainties include:
-
The sale value that will be achieved on disposal of residual investments;
-
the costs of operating the DB plan until completion of the buy-out process;
-
the costs of the buy-out process; and
-
the cost of making any adjustments to the DB plan to enable the buy-out to proceed.
It is expected that the assets of the DB plan will be sufficient to cover all costs and liabilities that remain. However, it is possible that if things turn out worse than anticipated that further funds will be needed from employers.
The Trustee and the Baptist Union have agreed that deficit reduction contributions will reduce to £1 per month until June 2026. Currently, they do not anticipate reinstating the requirement to pay the full deficit reduction contributions in the future but cannot rule this out at this stage.
Defined benefit pension liability 2024 2023 £ £ Comprises: Liability as at 1 April 2023 39 15,000 Deficiency contributions paid (12) (1,258) Interest cost - 431 Changes in deficit recovery plan and in assumptions - (14,134) 27 39
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Watnall Road Baptist Church
Annual Report and Financial Statements for the year ended 31 March 2024
20 Analysis of Charitable Funds
| unrestricted funds Engage Gifts Church Premises inc manse Equipment Emergency Fund Sub total Restricted funds: Raised for other causes AV Equipment Momentum Sub total Total Funds |
at 01/04/2023 income expenditure gains/(losses) £ £ £ £ 68,198 175,557 150,356 - 28,037 10,760 13,970 - 255,702 - 5,867 - 18,166 - 5,247 - 40,000 - - |
at transfers 31/03/2024 £ £ - 93,399 - 24,827 - 249,835 - 12,919 - 40,000 - 420,980 - - - 976 - 801 - 1,777 - 422,757 |
|---|---|---|
| 410,103 186,317 175,440 - |
||
| - 3,570 3,570 - 976 - - - 801 - - - |
||
| 1,777 3,570 3,570 - |
||
| 411,880 189,887 179,010 - |
Designated funds are unrestricted funds which have been designated by the trustees for a particular purpose and does not legally restrict the trustees in how to apply these unrestricted funds that have been:
Engage Gifts Shop Fund – for the operation of the Engage Gifts Shop. Church Premises and Manse Fund – represents the net book value of the church and manse premises. Equipment Fund – represents the net book value of equipment.
Emergency Fund – the fund is maintained to ensure adequate funding is available to support the ongoing activities of the charity.
Restricted Funds
Raised for other causes – specific appeals made by the Church for various charities. AV Equipment – funds towards audio/visual equipment for the Church Momentum – to support men’s ministry.
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Watnall Road Baptist Church
Annual Report and Financial Statements for the year ended 31 March 2024
21 Analysis of net assets between funds
| Analysis of net assets between funds | ||
|---|---|---|
| Tangible fixed assets Current assets Creditors less than one year Provision for liabilities Net assets Tangible fixed assets Current assets Creditors less than one year Provision for liabilities Net assets |
Unrestricted funds Restricted funds Total funds 2024 £ £ £ 265,444 - 265,444 164,729 1,777 166,506 -9,166 - -9,166 -27 - -27 |
|
| 420,980 1,777 422,757 |
||
| Unrestricted funds Restricted funds Total funds 2023 £ £ £ 273,868 - 273,868 143,583 1,777 145,360 (7,309) - (7,309) (39) - (39) |
||
| 410,103 1,777 411,880 |
22 Related Parties
The total amount of donations received from trustees and related parties without conditions amounted to £51,575 (2023: restated £57,700).
The trustees of the church property including the manse are the East Midlands Baptist Trust Company Limited (company number 00178555).
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