WATNALL ROAD BAPTIST CHURCH REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS 31ST MARCH 2025 Charity Number= 1144186 PELLS CHARTERED ACCOUNTANTS 17 Newstead Grove NorriNGHAM NG14GZ
WATNALL ROAD BAPTIST CHURCH ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2025 Contents Page Trustees, Annual Report 116 Independent Examinerfs Report to the Trustees Statement of Financial Activities statent of Financial Position Notes to the Financial Statements 10120
WATNALL ROAD BAPTIST CHURCH ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2025 TRUSTEES. ANNUAL REPORT The Trustees present their report and the unaudited financial statements of the Charity for the year ended 31st March 2025. Reference and Administrative Details Registered Charity Name Watnall Road Baptist Church Charity Registration 1144186 Number Principal Office Watnall Road Hucknall NorriNGHAf¥l NG156SG The Trustees Rev S J Robinson Mr M J Little (appointed 1 st Septernber 2024} Mrs L J Sims (appointed 25th November 2024) Mr A Cable {appointed 16th April 2024) Mrs L Cain Mrs Y Campbell MrTLClay Mr AJ Clay Mr O Famodile (appointed 16th Awil 2024) Mr G Comvay {appointed 16th April 2024) Mrs K E Cooper Mrs F Daft (resigned 16th April 2024) Mrs A Francis Mr M Hodge Dr E H Mcwicar (resigned 16th April 2024) Accountants Pells CharteredAccountants 17 Newstead Grove NOTTINGHAM NG1 4GZ
WATNALL ROAD BAPTIST CHURCH TRUSTEES ANNUAL REPORT FOR THE YEAR ENDED 31ST MARCH 2025 Structure, Governance and Management htlembers 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 baptrsed 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, mting under the guidance of the Holy Spirit and under the Lordship of Christ to discern the mind of God in the affairs of tt)e 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 propety including (without limitation) any purchase, sale, lease, mortgage. or redevelopment of property. the administration of the membership list, and the closure of the Church. Objectlves and Activities The Charity is govemed by a constitution that states that the principal purpose of the Church is the adVanrnent of the Christian faith according to the principles of the Bapb'st denomination. The Church may also advance education and carry out other charitable purposes in the United Kingdom andlor other parts of the World. In setting our objectives and planning our activities our Trustees have given careful consideration to the Gharity Commission's public benefit guidance. In order to achieve the principal objectNe which is set out above, the Church provides a variety of activities, both to its membership and to the communty 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 seNices 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 moming seNices. 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 grovrth 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 inith'ated. 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 obseryed at least once a month"; evangelism and mission, locally. regionally. nationally and internats'onally"" the teaching, encouragernent, welcome and inclusion of young people, nurture and growth of Christian disciples""
WATNALL ROAD BAPTIST CHURCH TRUSTEES ANNUAL REPORT FOR THE YEAR ENDED 31ST MARCH 2025 "education and training for Christian and community service" "giving and encouraging pastoral care"" "supporting and encouraging charitable soGial action in the Unrted Kingdom and abroad"; "encouraging relationships wrth and supporting Baptists and other Christians" The Church operates systems to ensure that all people working with chIldn and vulnerable adults are appropriatety vetted by the Disclosure and Barring seICe. The Church has read the Charity Comrnission guidance on public benefrt and is satisfied that the activities outlined above clearly demonstrate that the Charty is providing a benefrt to the public. Ministers Re ort Since our last annual report, there have been some very significant and enenuraging moments in the life of the church. Our Ministy Team has grown with the appointment of Matt Little as our Youth Team Leader and Lisa Sims as our Children and Families. Team Leader. We really are blessed with the staff team we have, and I'm thankful for the strength and unty we enjoy together. The work of both youth and children and families has grown significantly under Matt and Lisa's leadership as seen by the numbers attending our midweek and holiday acb'vits'es as well as on Sundays. My thanks go to all the volunteers who support this work afid who 'kept things going. whilst we sought God's guMJan in Matt and Lisa's appointrnents. Motherfs Day and Giving seNis were recent highlights. managed collaboratively by the planning team. And we have been blessed by the number of baptisms we have rendY seen which fulfils the church mission of helping people to find and follow Jesus. These seniices are atways a clear sign of God at work among us. It has also been wonderful to see new people continuing to come and find a home here. We need to develop church attendees so that they become °members, not as members of a club, but as partners as we shift the culture of church meetings. My preaching and ministy have undergone a °paradigm shif in the last few years following the adoption of the principles and praCtIS of the Further Faster Network (FFN). The FFN Conferen was another highlight. It was great to attend with a group from church, and I valued the Chan to hear excellent teaching and to see how much Kab'e and James, who came along. gained from the experience. The FFN material is all about reaching people which resonated with me from the start and led me to rethink the way that I preach. breaking out of the rut and looking again at how to communicate to all the church. At present, a lot of my focus is on reshaping our ministry teams. I've been working with each one around three key questions.. What are we he foffi Why do we do How do we do it? The aim is that each team develops a simple mission statement and works as a system rather than being dependent on just one person. That way, if someone needs to step bacK the ministy continues and flourishes. This has already led to the reshaping of the Welcome Team, which has been brough together with Prayer and Coffee into a wider Sunday team. These ministries may sometimes be undeated. but they are vital in making people feel welcomed, cared for, and ready to meet the Lord. The 4 O'clock team has also been reshaped, and in time we will work through this process Mfjth all our teams. Alongside that, we are exploring a more effective way of managing volunteering, inspired by the Dream Team model at Emsworth Baptist Church. The principle is to make volunteering simple, joined up and sustainable. It will take some time to set up, but if s a significant step forbvard. And running alongside all this is our strategic priority of discipleship investing in how we can help people not just believe, but also to become radical disciples of Jesus. So there is much to give thanks for.. baptisms. youth, new families and others finding a home at Watnall Road", teams growing in strength and clarity and much to look forward to as we continue together on this journey. Blessings Rev Simon J Robinson MA Lead Minister
WATNALL ROAD BAPTIST CHURCH TRUSTEES ANNUAL REPORT FOR THE YEAR ENDED 31ST MARCH 2025 Flnanclal Revlew The financial statements for the year ended 31st March 2025 are presented in the fOrnt 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 statsments 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 AGt 2011. In summary: Incoming resources of Resources expended of Net income (expenditure) Actual gains on defined benefit pension scheme Net rnovement in funds £202,233 £200,161 £2,072 £0 (£189.887 in 2023124) {£179,010 in 2023124) {10,877 in 2023124) (£0 gain in 2023124) (£10,877 in 2023124) Total income was £12.346 more than the previous year, whilst expenditure was £21.151 more than 2023124 resulting in a surplus of £2,072 compared with a surplus of £10.877 in the previous year (before actuarial gains and losses in the deferred benefit pension scheme). The followin9 table shows how we perfomied compared with the previous financial year in more detail and how we performed compared with the budget the Church agreed for 2024125. 2023124 Income 2024125 2024125 2024125 Varfance Actual to Budgot Actual Budget Actual 158,977 8,901 10,760 donations and legacies rent reIved engage gifts 146,012 9,575 8,048 168,789 8,929 8.048 22,777 (646) 1,877 9,372 interest coffee shop Other income Total Income 2,000 10.000 4,713 10,715 2,713 715 189,887 Wrthin the donations and legacies total, offertory income increased by 16% and was £22.777 more than budget as a result of new people being welcomed into fellowship and committing to the Church. The increase in InteSt resulted from the investment of £40.000 on a fixed, one year term with the Baptist Union Corporation. Inccme from the coffee shop continued to increase. however turnover at Engage Gifts fell by £2,712 to £8,048. Engage Gifts made an operab'ng loss of £13,484 and with a new landlord having acquired the propety and notifying us of his intention to double the rent, the decision was been taken to cease trading at the end of November 2024.
WATNALL ROAD BAPTIST CHURCH TRUSTEES ANNUAL REPORT FOR THE YEAR ENDED 31ST MARCH 2025 2023124 expenditure 2024125 2024125 2024125 Variance Actual to Budget Actual Budget Actual 13,970 165,040 engage gifts expenditure on charitable activities: 21,532 179281 21,532 178629 652 179,010 total expenditure 200 813 200 161 652 189,887 Total Income 175,635 202.233 26,598 10,877 Surplus or (Deficlt) For The Year Expenditure on charitable activities was £652 less than the budget and £13,459 more than the previous year. The table below shows an analysis of this varian. trlhilst tninisty sts were £24,609 less than budget as a result of our inability to appoint a new Youth Worker. expenditure on the upkeep of premises was also above budget by £20,082. 2023124 Expenditure on Charltable Ictivitles: 2024125 2024125 2024125 Varfance Actual to Budget Actual Budget Actual 88,231 31,496 44,267 1,046 ministy mission upkeep of church premises governan costs Total expenditure on charitable activities 110,905 29,965 38.411 86,296 32,740 58.493 (24,609) 2,775 20,082 165,040 It is pleasing to note that support for mission was £2,775 more than we had budgeted. Giving to causes included.'_ BMS World Mission BMS Home Mission Children, Families and Young People Vdorship Group Welcome Churches Grahamstown Baptist Church (Coffee Moming) Renew 34 and Outreach Coffee Shop Others £7,760 £7,760 £3,664 £159 £360 £416 £1,953 £8,073
WATNALL ROAD BAPTIST CHURCH TRUSTEES ANNUAL REPORT FOR THE YEAR ENDED 31ST MARCH 2025 The Balance Sheet (Financial Position at 31st Mah 20251 The balance sheet shows total net assets at the year end of £424,829 (£422,784 at 31 st March 2024). Cash at the yearend was £141,460 compared with £133,743 at the pVIouS year end. Net current assets totaled £164.321 an increase of £9.981 over the previous year-end. Debtors included £15,077 gift aid whilst cash hokdings include £85.782 invested with the Baptist Union Corporation on a fixed one-year term with 5% interesL The Trustees annual report was approved on and signed on behaff of the Trust&s by: Rav S J Robinson Trustee
WATNALL ROAD BAPTIST CHURCH TRUSTEES ANNUAL REPORT FOR THE YEAR ENDED 31ST MARCH 2025 INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES I report on the financial statements for the year ended 31 st March 2025, which comprise the statement of financial activities, statement of financial po&tion and the related notes set out on pages 8-21. Responsibilities and Basis of Report As the Charity Trustees of the Trust you are responsible for the preparation of the accounts in accordan with the requirements of the Charities Act 2011 (the ACV). I report in respect of my examination of the Trusys accounts carried out under Section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directtons given by the Charity Commission under Section 145(5)(b) of the Act. Independent Examinerfs 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 respecL Accounting records were not kept in SpeCt of the Trust as required by Section 139 of the Act; or The accounts do not accord wrth these records; or 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 cOnmS and have come across no olher 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. ARRPrlFCA For and on behalf of Pells Institute of Chartered Accountants in England and Wales 17 Newstead Grove NorriNGHAM NG14GZ
WATNALL ROAD BAPTIST CHURCH TRUSTEES ANNUAL REPORT FOR THE YEAR ENDED 31ST MARCH 2025 STATEMENT OF FINANCIAL ACTIVITIES 2025 Unrestricted Restrirted Funds Funds 2024 Total Funds Total Funds Notes Income and endowments Donations And Legacies Charitable Activities Other Trading Activities Investment Income Coffee Shop Other Income 166,442 8,929 8.048 4,713 10.715 1,039 2,347 168,789 8.929 8,048 4,713 10,715 1,039 158,977 8,901 10.760 1,877 9,372 Total Income 199,886 2,347 202,233 189,887 Expenditure Expenditure on raising funds: Costs of other trading activities Expenditure on charitable activities 21,532 176,282 21,532 178,629 13,970 165,040 io/ii 2.347 Total Expendlture 197.814 2,347 200,161 205,489 Net (Expenditure)/lncome and net rnovement in funds 2,072 2,072 10,877 Actuarial Gains/{Losses> on Deferred Benefit Pension Scheme Net Movement in Funds 2,072 2,072 10.877 Reconciliation of funds Total funds brought forward 420.980 422.757 411880 Total funds carried forward 423,052 1.777 424,829 422 757 The stalement of financial activities includes all gains and105ses recognised in the year. All income and expenditure derive from continuing activities.
WATNALL ROAD BAPTIST CHURCH TRUSTEES ANNUAL REPORT FOR THE YEAR ENDED 31ST MARCH 2025 STATEMENT OF FINANCIAL POSITION 2025 2024 notes Fixed Assets Tangible Fixed Assets 15 260.528 265,444 Current assets Stocks Debtors Cash at Bank and in Hand 16 16,666 16,097 133,743 17 28,686 141,460 170,146 166,506 Creditors: amounts falling due within one year 18 (5.825) {9,166) Net Current Assets 164.321 424,849 157,340 422,784 Provislon for Liabilitie5 Defined benefit pension liability 19 20 27 Net Assets 424,829 422,757 Funds of the Charity Unrestricted Funds Restricted Funds 423,052 420,980 1,777 422,757 Total charity funds 20/21 424,829 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 fonrj part of these financial statement
WATNALL ROAD BAPTIST CHURCH TRUSTEES ANNUAL REPORT FOR THE YEAR ENDED 31ST MARCH 2025 NOTES TO THE FINANCIAL STATEMENTS 1 General Information The Charity is a registered Charity in England and Wales and is unincorporated. The address of the principal office is 33 Vvatnall Road, Hucknall, Nottingham. NG15 6SG. 2 Statement of Compllance These financial statements have been prepared in compliance with FRS 102. 'The Financial Reporting Standard applicable in the UK atKI the Republic of Iland,, 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) {Charits'es SORP (FRS 102)) and the Charities Act 2011. 3 Accounting Policies The financial statements are prepared in sterling, which is the fvnctional currency of the entity. The financial statements have been prepared under the historrAI cost convention. The financial statements have been prepared in accordan with the requirements of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordan with the Financial Reporting Standard for Smaller Entits'es (effective January 2015) (SORP 2015). in There ere no material uncertainties about the Charity's abilty to continue. Al The entity satisfies the criteria of being a qualrfying entty 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. Unrestricted funds are available for use at the discretion of the Trustees in furtherance of the purposes of the Charity. Designated funds are unrested funds eamiarked by the Trustees for specific purposes. Restricted funds are subjected to restrictions on their expendtture imposed by the donor or by an appeal. Income All income is included in the statement of fi'nancial acb-vities 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 quanlified with reasonable accuracy. Tha following specific policies are applied to particular categories of income. Donations and legacy income received by way of donations. legacies. grants and gifts and is included in full in the statement of financial activities when receivable. whe 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 rf material. Grants. where entitlemenl is not conditional on the delivery of a specific perfomiance by the Charity. are recognised when the Charity becomes unconditionally entitled to the grant. Investment income is included when re1Vable. Income from charitable trading activity is accounted for when earned. 10
WATNALL ROAD BAPTIST CHURCH TRUSTEES ANNUAL REPORT FOR THE YEAR ENDED 31ST MARCH 2025 NOTES TO THE FINANCIAL STATEMENTS (Continued) 3 Accounting Policies (Continued) Expenditure Expenditu 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 indudes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them. Other expenditure indudes all expenditure that is neither related to raising funds for the Charity nor part of its expenditure on charilable activities. All costs are allocated between Ihe 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. All fixed assets a initially Orded at cost and are subsequendy slated at cost less any accumulated depreciation. All assets where the cost of the item is over £1.000 are capitalised. Depreciation is calculated so as to write off Ihe cost or valuation of an asset. less its residual value. over the useful economic lrfe of that asset as ft)Ilows: Church premises 2% straBht line Equipment 20% reducing balan The Manse is not deplated since the Trustees cx)nsKJer the residual value to b8 V11 in excess of the carrying value. Land is not depreaated. IA A VIeW for indicators of impairrnent is carried out at each reF(xling date. with the recoverable amount being estimated where such indicators exist. Vlthere 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 unrfc is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash infiows from other assets or group of assets. 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 incuffed in bringing the stock to its present location and condition
WATNALL ROAD BAPTIST CHURCH TRUSTEES ANNUAL REPORT FOR THE YEAR ENDED 31ST MARCH 2025 NOTES TO THE FINANCIAL STATEMENTS (Continued) 3 Accounting Policies (Contlnued) A financial asset or 8 financial liability is recognised only when the enb.ty 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 subsequentty measured at the cash or other consideration expected to be paid or received and not discounted. Defined contributs.on Plans Contributions to defined contribution plans are recognised as an expense in the period in which the related seniice is provided. Prepaid contribub'ons are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash fund. Defined Benefrt Plans The Church is an employer participating in The Baptist Pension Scheme (The BPS) in respect of making eficit payments for past Sewi of Ministers. here the plan is in deficrt and where the Church has agreed wrth the plan to participate in a deficit funding aangernent 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 balan sheet 12
WATNALL ROAD BAPTIST CHURCH TRUSTEES ANNUAL REPORT FOR THE YEAR ENDED 31ST MARCH 2025 NOTES TO THE FINANCIAL STATEMENTS (Continued) Unrestrictsd Restricted Funds Funds Total Funds 2025 Total Funds 2024 4 Donations And Legacies Offerings Donations Income Tax Recovered On Gifts 125.271 1.190 29,981 125,271 1.190 30,065 123.831 1,141 29.794 Raised For Other Causes Other Legacies 2,263 2,263 3.284 927 10.000 Total Donatlons And Legacies 166,442 2,347 168.789 158,977 S Charitable Activities Rents and Contributions For Use Of Premises 8.929 8.929 6 Other Trading Activities Shop Income- Engage Gifts 8,048 8,048 10,760 7 Investment Income Bank Interest Receivable 4.713 1,877 Coffee Shop 10.715 Costs Of Other Trading Activities Purchases Stcck Movement Rent Rates Utilities Insurance Sundry 17,247 17,247 6,657 (153) 4,420 141 2,316 511 78 3,003 96 993 162 31 3,003 96 993 162 31 Total Cost Of Other Trading Activities 21.532 21,532 13,970 13
WATNALL ROAD BAPTIST CHURCH TRUSTEES ANNUAL REPORT FOR THE YEAR ENDED 31ST MARCH 2025 NOTES TO THE FINANCIAL STATEMENTS (Continued) Expenditure On Charitable 10 Activities 2025 Restricted 2024 Total Unrestricted Totsl Ministry Wages And Salaries Employer's NIC & SSP Pension Costs Manse Upkeep Minister's Books and Materials Minister's Travel Mentoring Costs Visiting Ministers 61.764 1.455 6,063 3,426 907 61.764 1,455 6,063 3.426 67,087 2,265 5,958 3,171 687 380 397 145 1,140 145 1,140 160 475 Ministry Sub Total 75.280 75,280 80,2LX) Support Costs Communion Telephones Inc Mobiles Printing and Stationery Subscriptions Website Course5 and Conferences Database Sundry Expenses 17 1,606 2,233 4,016 519 1.125 318 1,182 17 1,175 2,758 2.322 814 894 2,233 4.016 519 1,125 318 1.182 68 Support Costs Sub Total 11.016 11.016 8,031 Total Ministry 86.296 86,296 88,231 Mission Given To Other Ca uses Children, Families and Young People Worship Group/AV Flowers Coffee Shop Catering Renew 34 15,919 3,664 159 2.347 18,266 3.664 159 209 8,073 416 545 18,830 1,903 1,824 8,073 416 7,592 250 545 1.408 Outreach 473 Total Mission 30.393 2.347 32,740 31,496 14
WATNALL ROAD BAPTIST CHURCH TRUSTEES ANNUAL REPORT FOR THE YEAR ENDED 31ST MARCH 2025 2025 Unrestrlcted Restricted 2024 Total Total Upkeep Of Church PrnISeS Wages and Salaries Employetrs NIC Pension Costs Light and Heat Repairs and Maintenance Furniture and Equipment Insurance Cleaning Depreciation- Land And Buildings Depreciation- Equipment 12.514 12,514 79 616 14,265 11,225 2.031 4,550 1,911 5,867 4,140 11,367 31 555 11,262 3,119 713 616 14.265 11.225 2.031 450 1.911 s67 4,140 3,871 2,745 5,867 3,902 57.198 57,198 43,432 Support Costs Communion Database Telephone Printing and Stationery Subscriptions Website Course5 and Conferences Finance Cost {Pension Deficit) Sundry Expenses 35 35 178 263 178 263 131 306 258 90 42 58 182 58 182 131 131 1,295 1.295 835 Total Upkeep Of Church Premises 58,493 58,493 44,267 Governance Costs Examiner's Fee 1,100 1,100 1,046 Total Expenditure 176.282 2,347 178,629 165,040 15
WATNALL ROAD BAPTIST CHURCH TRUSTEES ANNUAL REPORT FOR THE YEAR ENDED 31ST MARCH 2025 Support Costs Total Funds Actlvlty 11 Analysis Of Expenditure On Charitable Activities 2025 Ministry Mission Upkeep of Church Premises Governance Costs 75,280 32,740 57,198 1,100 11,016 86,296 32,740 58,493 I,ioo 1,295 166,318 12,311 178,629 Analysis Of Expenditure On Charitable Activities 2024 Ministry Mission Upkeep of Church Premises Governance Costs 80.200 31,496 43,432 1.046 8,031 88,231 31,496 44,267 1,046 835 156,174 8,866 165,040 12 Independent Examination Fees 2025 2024 Fees Payable For: Independent Examination of Financial Statements I,ioo 1,046 13 Stsff Costs Wages And Salaries Social Security Costs Employercontributions To Pensions Manse Costs 74,278 1,533 6,679 3,426 78,454 2,296 6,513 3,171 85,816 90,434 Number of Ministry Staff Number of Administrative Staff Number of Caretaker Staff 14 Trustee Remuneration and expenses Reverend SJ Robinson was a trustee of the Church and was also employed as the Lead Minister. A salary, pension and Manse totslling £43,362 was paid to him in his capacity as Lead Minister. Payments is 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 ceiVed total employee benefits of more than £60,000. 16
WATNALL ROAD BAPTIST CHURCH TRUSTEES ANNUAL REPORT FOR THE YEAR ENDED 31ST MARCH 2025 15 Tangible Fixed Assets Land And Bulldlngs Equipment Total Cost At l April 2024 Additions 554,589 51,856 5,090 56,946 606,445 5,090 611.535 At 31 March 2025 554,589 Depreciation At l April 2024 Charge ForThe Year At 31 March 2025 304,754 5,867 310,621 36,247 4,140 40,387 341,001 10,007 351,008 Carrying Amount At 31 March 2025 243.968 16,560 260.528 At 31 March 2024 249,835 15,609 265,444 16 Stocks 2025 2024 Stocks For Resale 16,666 17 Debtors 2025 2024 Income Tax Recoverable Other Debtors And Prepayments 15.077 13.609 14,927 1.170 Total Debtors 28,686 16,097 18 Creditors: Arnounts Falllng Due Wrthin One Year 2025 2024 Tax And Social Security Other Creditors 2.085 3.740 1,036 8,130 Total Creditors 5,825 7,309 17
WATNALL ROAD BAPTIST CHURCH NOTES TO THE FINANCIAL STATEMENTS (Continued) YEAR ENDED 31ST MARCH 2025 19 Penslons and Other Post retirement Benefits continued On 1st July 2022 an agreement was signed wtth Just Group to secure DB plan membetrs pension benefits as a 'buy in policl, providing financial backing for all DB pensK)ns 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-<t and wind up are complete not all risks relating to the DB plan are removed. The uncertainties include." The sale values that will be achieved on disposal of residual investments; The costs of operating the DB plan until completion of the buy out prOss., the costs of the buy-out process., and the cost of making any amendrnents 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 tum 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. Deflned benefrt pension liability 2025 2024 Comprises." Liability as at 1st April 2024 Deficiency contributions paid Interest cost Changes in deficit recovery plan and in assumpb'ons 27 (7) 39 (12) 20 27 18
WATNALL ROAD BAPTIST CHURCH NOTES TO THE FINANCIAL STATEMENTS (Continued) YEAR ENDED 31ST MARCH 2025 20 Analysis of Charitable Funds at at 0110412024 Income Expenditure Transfers 3110312025 Unrestricted funds Engage Gifts Church Premises inc manse Equipment Emergency Fund 93,399 191.838 24,827 8,048 249,835 12,919 40,000 420,980 199,886 170,415 21.532 5,867 5.090 119,912 11,343 243,968 7.829 40,000 423,052 (5,090) 197,814 Restricted funds: Raised for other causes AV equipment Momentum 2,347 2.347 976 801 1,777 976 801 1,777 2.347 2,347 Total Funds 422,757 202,233 200,161 424,829 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 earmarked. 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 - The transfer represents capital expenditure on equipment during the year Emergency Fund - This fund is maintained to ensure adequate funding is available to support the ongoing operation of the Church. Restricted Funds Raised for other causes- Specific appeals made by the Church for various charities. AV Equipment - Funds towards audiolvisual equipment for the Church. Momentum- To help men minister, to men. 21 Analysis of net assets between funds Unrestricted Restricted Total Funds funds funds 2024 Tangible fixed assets Current assets Creditors less than one year Provision for liabilities 260,528 168.369 (5,825) 20 260,528 170,146 15,825) 20 1.777 Net assets 423 052 424 829 Analysis of net assets between funds Unreslricted Restrtcted Total Funds funds funds 2024 Tangible fed assets Current assets Creditors less than one year Provision for liabilities Net assets 265,444 164,729 (9,166) 27 420 980 265,444 166,506 (9.166) 27 422 757 1,777 19
WATNALL ROAD BAPTIST CHURCH NOTES TO THE FINANCIAL STATEMENTS (Continued) FOR THE YEAR ENDED 31ST MARCH 2025 22 Related Parties The totsl amount of donations received from Trustees and related parties without conditions amounted to £53.361 (2024. restated £51.575). The Tnjstees of the church propety including the manse are the East Midlands Baptist Trust Company Limited (company number 00178555). 20