2023-12-31-accounts

BROMLEY BAPTIST CHURCH

ANNUAL REPORT AND ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2023

REGISTERED CHARITY NUMBER 1145850

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Legal & Administrative Details

Charity Number: 1145850 Registered Address: Bromley Baptist Church, Park Road, Bromley, Kent BR1 3HJ Governing Document: Constitution dated 4 October 2009 amended 25 July 2021. Trustee Board Mrs Jemima Aaron Mrs Clare Morris Mr Iozeph Okosieme Mr Jonathan Smith (tenure concluded June 2024) Mrs Janice Tibble Rev Dr Stephen Langford (appointed 6 February 2024) Ms Fawzia Abd Elnour (appointed 5 May 2024) Mr Nicholas Arnold (appointed 5 May 2024) Church Officers/Staff: Mr Michael Meerloo, Caretaker Mr Rahmatolla Tavakkoli, Finance Administrator Ms Nikki Williams-Prescott, Church Administrator Bankers: CAF Bank Limited 25 Kings Hill Avenue, Kings Hill, West Malling, Kent ME19 4JQ Independent Examiner: Ms Katherine Dee Begbies Chartered Accountants 9 Bonhill Street London EC2A 4DJ

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Trustees Report

Objectives and Activities

The principal purpose of the church is the advancement of the Christian faith according to the Declaration of Principles of the Baptist denomination. The charity may also advance education and carry out other charitable purposes in the United Kingdom and/or other parts of the world.

Public Benefit

The Trustees confirm that they have complied with the duty in Section 17 of the Charities Act 2011 to have due regard to the Charity Commission general guidance on public benefit and believe that the church's activities and achievements as set out elsewhere in this report demonstrate success in this regard.

Summary of Activity

The period under review saw the church fulfilling its objectives.

The year ending December 2023 was a year of inter-regnum as we had no ministerial team. We continued to meet the objectives of the church by meeting in person and online (as we have many housebound members). Sunday worship services were held in the church building and streamed via YouTube. Our work with children and young people in Sunday School was in person. Our two weekly prayer meetings continued online, and the two coffee mornings were one online and one in person. The in-person coffee morning is held at 1917 Chill Café in the town centre; this gives us a visible presence in the community and enables us to support a local business. It is led by two church members who offer pastoral support to the various people who come.

The church was also providing a wide range of activities in person in support of the objective of advancing the Christian faith. Central to the work and witness of the church is the provision of regular services of Christian worship on Sundays and at other times. In addition, we offer a wide range of regular activities for families, children, and young people – Contact, Quavers, Boys’ Brigade, Sunday School, Crèche and Pop-In.

Our teaching programme is intentionally designed and developed to engage the whole church community in knowing Jesus better and living out his teaching day to day.

We are a church that is active in the community in central Bromley and during the year have sought to benefit those in our community through Friends International, Bromley Borough Foodbank, liaison with Bromley Town management and Bromley Homeless Shelter. Details of the activities of the church can be found on our website www.bromleybaptist.com.

Trustee meetings and Church Family Meetings are held in person, along with our regular Sunday services. The Trustees continued to meet monthly to discuss business and practical matters, and to pray for the life of the church. The number of Church Family Meetings held during the reporting period was five, including the AGM.

Prayer and pastoral support

The trustees and the pastoral team continued to support those in need through prayer and practical action. Monday, Thursday and Friday prayer meetings pray for members and friends, accepting prayer requests from people; this has been online via Zoom. Sunday prayer corner remains open, praying for people in person.

We have seen an increased need of individual households requiring support within the community, particularly with the current financial burdens.

Trustees have visited people at home and held pastoral care meetings with many individuals within our church membership, listening to their needs and praying with them.

Meeting the needs of our community

The church continues to take an active role in supporting Bromley Borough Foodbank through donations of food, volunteering at distribution centres in the borough and sorting foodstuffs at the warehouse. This has seen an increase in recipients with the cost of living increasingly causing greater hardship in the community. In December we were again pleased to be able to distribute Christmas food parcels, on behalf of Foodbank, to needy households in the borough.

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Al Anon continue to use our premises for their weekly meetings free of charge and our premises are also used weekly by local charity organisations for sessions and meetings.

Friends International meet weekly to support new arrivals in our community with language lessons and social support over a cup of coffee. The church has supported the Bromley Homeless Shelter again this year and are supplying volunteers with free parking to help them continue their incredible work.

Holiday at Home, an event for the over-70s took place in August, a chance to socialise while doing craft and other activities.

Working with children, families and young people

Our work with children and young people continues. All areas of children’s work attract children from the local community and provide us with the opportunity to build positive relationships with them, and their families, and to share the Christian faith with them.

We continue to provide two toddler groups, Contact on a Wednesday morning and Quavers on a Friday morning, both very well attended.

Our monthly Popin session for young children and their parents continues to grow in number. Children play and do craft activities whilst their parents meet, alongside members of the congregation.

Boys' Brigade has run throughout the year, providing leisure activities and bible teaching for teenage boys on a Monday evening.

Members support the continuation of Sunday School, providing activities on a Sunday morning for children during our morning service.

At the beginning of April, we held community “potting day” where church members and families, planted fruit and vegetable seeds and bulbs. Some were taken home, and others were planted in the church planters- lots of learning and plenty of messy fun.

On Easter Sunday we held a family service, when families from within our children's groups were invited to come to learn about the Easter story and celebrate with us. Lots of chocolate bunnies were eaten and our young people performed a short play!

In June we had a family day out to Broadstairs beach; we left from church on a large coach spent the day on the beach and finished with a fish & chip supper before heading home.

As an alternative to Halloween, we hosted a ‘Light Party’ in October to signify that Jesus is the light in the darkness. This was for local children and their families, who were encouraged to wear their brightest clothes! Tickets were fully sold out and activities were enjoyed by all.

In December we had a family Christmas fun service; families were invited to come dressed as their favourite nativity character and be a part of the Christmas show. Lots of carols were sung, pastries and chocolates were consumed, and gifts were given out.

Missionary support and the wider world

We have continued to support several missionaries and other Christian workers, both in the UK and overseas, through financial donations and prayer. In this financial year we have been able to support the work of additional organisations, including:

• Holy Cross Church, Hove, for their youth and family work

• Poverest Road Baptist Church for their ongoing building project

• JusB to continue their youthwork provision within Bromley

• Drita E Botes Church in Tirana, Albania for their ministry to their community.

Achieving our aims

As stated above, the principal purpose of the church is the advancement of the Christian faith according to the Declaration of Principles of the Baptist denomination. We measure our success in the number of people we reach through our activities.

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By continuing to broadcast our Sunday worship online we have expanded our reach through YouTube allowing those who could not previously access the church physically to join us in worship. We measure our success in our mission objectives by the gifts we give, despite the economic difficulties we face as a community.

Mission activities are undertaken through giving grants to Baptist mission organisations such as BMS World Mission and Home Mission, Operation Mobilisation and to missionaries along with smaller gifts to other local, national and international organisations. By giving to these groups along with other donors, we seek to contribute to the advancement of the Christian faith outside Bromley in a more effective way than we could do alone.

Personnel

We thank Michael Meerloo who continues to look after the church premises.

We thank Rahmatolla Tavakkoli, for his work on the church finances as Finance Manager.

We thank Nikki Williams-Prescott for her continued work as Church Administrator.

The charity makes decisions through its Trustee Board. As is usual with church organisations, our ministers are Trustees in addition to members of the congregation. As such we had no Chief Executive throughout the period as we are were without a Minister and are continuing continued our ministry lead by five trustees. In October we invited Rev'd Dr Stephen Langford from St Andrew’s St, Cambridge to be our Interim Minister for the next two to three years and he accepted with a start date of February 1st 2024.

Finance Review

Income for 2023 was £226,659 compared to £168,504 in 2022. Income rose across all types of income, but we were particularly grateful to be notified of £50,000 legacies and bequests, of which £30,000 was received during the year. The majority of the income is made up of voluntary donations through offerings at church services and meetings, although one of the manses was let during the year whilst temporarily not occupied by a minister.

The balance sheet still includes a property that the church received as a legacy in 2021. As agreed at Special Church Family Meeting (28 November 2021) the property will be sold as soon as practicable rather than held for use by the charity. During the year the legal registration of the property was completed and valuations have been obtained prior to marketing.

Expenditure for 2023 was £245,520 compared to £198,361 in 2022. The savings made from not paying ministers salaries were directed towards mission expenditure, and costs have been incurred preparing the manse for the arrival of the new minister.

The year under review generated a deficit of £18,861 compared to the prior year deficit of £29,857. Total funds at the balance sheet date stood at £2,658,752 of which £16,913 is restricted. Of the £2,641,840 unrestricted funds, £1,692,736 is held in a designated fund representing the resources the charity has invested in its assets, including the church and manses, and so is not available for general expenditure. The charity had £949,103 of free reserves at the balance sheet date, but £430,000 will only be accessible once the building left as a legacy has been sold.

Reserves Policy

The church’s reserves policy is to hold reserves for the purpose of protecting the work of the church in the short term should income not be sufficient or if the church should need to cease/curtail its activities. The Trustee’s policy on free reserves is £75,000 which represents approximately 3 months’ running costs.

The property of the church is held in trust by the Baptist Union at a value of £2.16m. The church building is valued at rebuilding cost and the manses at market value in 2013. There are no reserve funds in deficit. The free reserves of the church will be used for the future operating purposes. The Trustees are satisfied with this position.

Structure, Governance and Management

Bromley Baptist Church is a charity governed by its Constitution dated 4 October 2009 amended 25 July 2021. The Trustees are appointed by the Church Family Meeting and all serving ministers shall be a Trustee because of their role and responsibilities.

New trustees are provided with a copy of the Constitution and advised of their duties and responsibilities as Trustees. Trustees are encouraged to attend training sessions provided by the Baptist Union.

The church is affiliated to the Baptist Union of Great Britain and the London Baptist Association.

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The London Baptlst Property Board is the legal owner of the church propertyand holds the property on trust forthe charlty. Rlik5 The Trustees have assessedthe major risks fadn8the ch•rtty and ar•5atisfied thèt the￿ are pollcle5 and prathces In place to rnlnimlse rfsks. Damage to Our church buildingor manses 15 a major risk aftd appropriate Insuran￿ PDlicies are In pl)LY to mlnSrn15e ¢hS5 ri5L The tharity a150 has In place saleguardin8 poliries to minIm￿e the risk to Ouf con8regation and hea￿h safety poliThe5 whlch Ire re8ularfy r￿ewed. Pl•ns lor thefvLur• The charlty alms iocontlnue rneeith8 its ¢haritoble vblectsthrw8h gMn88fft5to m&siM i¥gaThl5th0￿ ahd act￿ in 8romley. Thetru5tees expectto usethe legacywe have been8fvento malntèiTh¥nd perhapsexpand our3rt￿￿1eSand lOSUPPOrtthe¢haTitythrouEh uncertaln times. Stiternht of Tru#e•g Responslblllty The Trustee5 are respDnsible forthe governance of the church and the fulfilmpnt of the objectives throu8h Its actlvlt5es acting 3c¢ordin8 to the will of Go(J as dlscerned bythe Church F3rnily Meetln8 and subject to any specific or8eneral directions of the Church Famlly Meetin8. The TN$1￿5 shall keep in an approprfth Slatè of repalr •nd Insure to their full ¥alue asalnst fire and other usual d5ks all the bulldings of th chath lexcEpt where the responsibility is ol a third party where they shall use reasonable endeavours to Ènsure that he Ihlrd party does x)). Thev must ensure that suitable puWtc liabilsty and emDloyers liability Insurance is in pla￿. In w faras theTnJstees are w•Tdr.' there are no funds materiajty In deficlt the church rnIsesthe￿gnffiCant maiorty ol Its lundsfrom withln rts own membu5hip •nd Con8r￿li0 allexpendrttsre5UPW)rts the W obfflfve ofthe thar The frusteos are responsible for the preparln8 the Trustees, Report 4nd the finanu31 ststements In accordance wtth èppli¢able law and Uniced Kln8dom A¢countlng5tand8rds Iunfted Kingdom Generally Accepted Accountlng Prartlcel. The law applicable to tharities in En8land and Wales requlres the Tru#eesto prepare financlal statements for each flnancial year whlch give 4 true nd falr ￿eW of the State of affairs of tk charity and of the In¢omin8 resources and appllcation of re$ources ènd appllc4tlQll Df resources of the charityfor that year. In preparfngthèse financial statements the Trustee5 are requlred to.. selett Sultable acwuntln8 poliue5and then oppty them coThsi5tentty: obse¥ve the ThethodsaThd princlples in theCharltiesSORP.. make adiustments ané e5tirnates thai are reasonable and prthrrt- 51ts whether applicable accounting stfid2rds been followed, subject to any merfal departwes dlsd05ed and explained in ftnar+cial sr¥tements.' and prepare the financial statements on the Bo￿1 toncern basis unless rf( Is IrtapW0￿#t1 io presurne that the tharrty I￿11 tontinue In operaiion. The Trustees are responslble for ￿eePIng sufllclent a¢¢OUndng record5 that dlsd05e with reasonable gtcuraLy at any tlme the financial I￿10￿ of the charlty and enable thern to ensure that the fln3ncial statements comply with the Chlrltles Art 2011, the Charity (Accounts and Reports) Regulètions 2008 and the provisions of the trust deed. They are also ￿SPonSible for safe8uèrdin8 the issets of the charlty ènd hence for taklng reasonable Steps for the preventlon and dete¢tlon of fraud and other ￿￿e¢U1¢￿ties. D•cl•ratlor The Trustees declare that thyhave appmvedthe Trust¢es' r¢rA)rt above. edon behalf0f￿ tharity5 TtUStees on: 08110124 MIJ Jrniih Mr N Arndd Mr Ivi•ph tsk0￿￿￿•

Independent Examiner’s Report to the Trustees of Bromley Baptist Church

I report to the trustees on my examination of the accounts of the above charity (“the charity”) for the period ended 31[st] December 2023.

Responsibilities and basis of report

As the charity's trustees, 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 confirm that no material matters have come to my attention in connection with the examination which gives me cause to believe that in, any material respect:

• the accounting records were not kept in accordance with section 130 of the Charities Act; or

• the accounts did not accord with the accounting records; or

• the accounts did 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.

16/10/2024

KATHERINE DEE FCA CTA

BEGBIES CHARTERED ACCOUNTANTS 9 BONHILL STREET LONDON, EC2A 4DJ Date:

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BROMLEY BAPTIST CHURCH

Year ended 31[st] December 2023 Statement of Financial Activities

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BROMLEYBAPTIST CHURCH As at31Jt Decembei 2013 Balarce Sheet 2023 2022 Not•J Fixed J55•ts Tansit>l• ••setS 1.892.736 1,722.42B Cwrentosmrs L•i#£ysift•d prop•rtyfotsala D•b¢or C¥3h ar b•nk•nd in tt 430AOO 40.138 926,911 997.049 28,216 9PA,924 Curr•nT Il•bilitia% Cr•dirgrJ." aM•Untsf•llinidu• within onèy•ar Jl.Q33 29,739 N•teurr•nr a3ur 966.016 955,186 Bssets 165&752 1677.614 Th?fvnilsofthe ¢hwity Unr•srrict•dfun45 Fixed a>>et reser¥• Gtnera1 r•s•r¥• Totsi unr•&trtctedlunds IW&2.736 1,722.428 949.103 164IM) I￿59￿13 Re5trictedfun415 Children'5fund irdihipfund 8uildinifvr Mi35ion Oriinisit10fj4 Qroups nil Club• rotsir•rtriaedlunds 9.06 750 9,063 BSO 7.10) 1&913 B,IB8 i&ioi Total Fimds 165&752 1677.614 Notes on pages 10- 19 form part of these a£count5. Approved bvthe Church Trustees.. Mr NAmold Treasurer 2024 Mrj Smith Treasurer 2023 osieme Trustee Date.. 8110124

BROMLEY BAPTIST CHURCH Year ended 31st December 2023 Notes to the accounts

Note 1

Accounting Policies

a.) Basis of accounting

The financial statements have been prepared in accordance with the Charities Act and FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (FRS 102) “Accounting and Reporting by Charities”: Statement of Recommended Practice for charities applying FRS 102 – Charity SORP (FRS 102) Revised, and UK Generally Accepted Accounting Practice as it applied from 1 January 2019. The charity is a Public Benefit Entity as defined by FRS 102.

The financial statements 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 for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.

The accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts.

The accounts are prepared in sterling, which is the functional currency of the charity.

Going concern

At the time of approving the accounts, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the next 12 months. Thus, the trustees continue to adopt the going concern basis of accounting in preparing the accounts.

b.) Mission giving

The church, under the direction of the Trustees, makes donations to individuals and organisations that complement and support the objects of the church. When church members contribute directly to the mission giving of the church the income and expenditure are accounted for by the church and are included in the financial statements.

c.) Scope of the financial statements

The church benefits substantially from the voluntary unpaid service and active participation of its members. Indeed, it could hardly function without it. However, in accordance with the Charities SORP, no attempt has been made to value this intangible resource, and it is not included in the financial statements.

d.) Tangible fixed assets

Property of the church includes the church building and residential houses (Manses). These assets were first capitalised in 2012 when the first set of accounts for the charity were produced. The valuations of the houses were based on best market estimates at the time of capitalisation and this is treated as the cost going forward for accounting purposes. The church building was valued at its rebuilding cost when capitalised of £900,000 which is materially below the market value of the building. The cost of the land has not been separated from the building as allowed by the SORP where the costs of doing so outweigh the benefits to the user.

Should the Trustees decide to revalue the freehold land and buildings in the future the market value of this land and buildings will be included in the balance sheet.

Depreciation

Depreciation is provided on the freehold buildings of the church over an estimated useful life of 150 years.

Other assets are depreciated over their useful life as follows: Fixtures and Fittings 5 years Equipment 3 years

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Impairment of Fixed assets

At the end of each year the charity reviews the carrying amounts of its tangible fixed assets to determine whether there is any indication of those assets being impaired or damaged. If this is the case the recoverable amount of the asset is estimated in order to determine the extent of the impairment. Income is generally accounted for when received, except that the tax recoverable in respect of gifts under the Gift Aid scheme is recognised at the same time as the gifts to which it relates. "Gifts and donations" in the financial statements therefore represents cash received in gifts and donations during the year, together with the tax recoverable on them. Deferred Income relates to income given to the church for a future period.

Letting income is received from activities held at church premises when not being used for church activities. Letting income is irregular and accounted for as received. Rent from the surplus manse is recorded as investment income on a receivable basis.

e.) Church groups

In accordance with the SORP certain groups which hold activities at the church, but have no separate legal identity, are included in the accounts. As the funds raised by the groups are for their own purposes, rather than the charity as a whole, these are shown as restricted income and expenditure. The charity makes donations to some of these groups and where these are made the payments are shown as income of that group.

f.) Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that settlement will be required and the amount of the obligation can be measured reliably.

All expenditure is accounted for on an accrual basis. Expenditure is allocated directly to the area of charitable activity which it supports where this can be determined. Support and governance costs are allocated to the category of general church work as this is the main activity undertaken by charity, and any time and resources incurred in support of administering special purpose funds, raising funds or hosting church groups are minimal.

g.) Grants and gifts

Funds that are raised for specific purposes through church collections are shown as restricted income and expenditure and are not accounted for as unrestricted grants as these are not made at the discretion of the trustees.

h.) Cash and cash equivalents

Cash and cash equivalents include cash in hand and bank deposits.

i.) Financial instruments

The charity has elected to apply the provisions of Section 11 “Basic financial instruments” and Section 12 “Other financial instruments issues” of FRS 102 to all of its financial instruments.

Financial Instruments are recognised in the charity’s balance sheet when the charitable company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets include debtors, cash and bank balances, are measured initially at transaction price including transaction costs.

Basic financial liabilities

Basic financial liabilities, including creditors, are initially recognised at transaction price.

Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

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j.) Pensions

The charity operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the charity pays fixed contributions into a separate entity. Once the contributions have been paid the charity has no further payments obligations. The contributions are recognised as an expense when they are due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the charity in an independently administered fund.

Prior to 2012 pension provision was made through multi-employer defined benefit pension plans. Where it is not possible for the charity to obtain sufficient information to enable it to account for a plan as a defined benefit plan, it accounts for the plan as a defined contribution plan.

Where the plan is in deficit and where the charity has agreed, with the plan, to participate in a deficit funding arrangement, the charity recognises a liability for this obligation. The amount recognised is the net present value of the contributions payable under the agreement that relate to the deficit. The unwinding of the discount is recognised as a finance cost where material and any other change in the measurement of this liability is expensed to the Statement of Financial Activities as an employment expense. Further details can be found in Note 5b and 13

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la Church Wotk 2023 2022 Unresirtrted Fund5 Unrestrlcted Funds Direct Costs staff cost5 (Note51 Conferences. books, trainlng & evangellsm Total DirertCost5 10.476 7,324 17.799 53,fy17 7,197 60,244 Support & GovernLTnce Costs Support staff costs INote51 Maintenan￿, repair5, redecoration and depreciation (note Heatin& insurance and other 5ervice5 Inote 4bl other Costs 24.250 51.956 10.519 43,102 30,133 14,844 98.599 5.731 111,311 Governan￿Costs Independent Examination fee Account5 preparation 2,153 3.433 Total Church expenditure 112.010 162,276 3b Mission Wowk 2023 2023 Re5trirted 2022 2022 2022 Unrestricted Total Unrestricted Restricted Funds Funds Funds Funds For mi55ion 92,225 92,325 2.281 19,788 3.532 3.6 23,320 3,6 Forspecial appeals ForThankoffering 2,281 92,2 2,381 19,788 7,222 27,010 Grants and gift5 2021 2021 2022 2022 Institutyons Individual$ Institutions For mlsslon 8MS world Mission BromleyTown Centre Chaplin Support ChurchesTogether in Central Bromley Christian Aid- Earthquake appeal CompassSon UK Drite E 8otes Foundation Foodbank Holy Cross Bapt15t Church Home Mission L21XJ L075 J.194 512 ISLM) llo Islay 8aptist Church Jus8Youth Centre nkto Hope London Bapt15tA550ciation Mission Without Borders 3.255 a,￿5 2,955 Missionaries Operation Mobilis8tlon Poverest Road Baptist Churth Spurgeon's College Tools with a Mi55ion Individuals direct 6,ILM) L2(X) L2(M) 13

4a Maintenance 2023 2022 Unrestrlcted Funds Unrestrlcted Funds Repairs &Maintenan Depreciation 23,248 30,708 53,9 IL9 31,142 43.102 Duringthe year significant repairs and redecoration5were ￿[ried out on the rnan5e in preparation forthe new minister. b Heatirb& insurance and other 5eThice5 12a 2022 Unrestricled Fund5 Unrestrirted Funds Elertricity& G8S Rent and Rate5 12.236 11.17L Council Tax Phone 1.578 3,3 2,857 4,309 2,919 30,133 L731 1.227 Water In5ur3nce offi￿ 5upplie5 3.985 27.194 5a Stsff In 2023 the church employed an average of 3 member50f staff tocarry outthe objeciives of the thurch12022'. 3.51. This included a finance Offi￿r, parttime ￿retakerS and an office 5UPPOrt manager. 2023 2022 Freelan￿r5e￿￿I￿5 L391 51,779 4A57 34216 National Insuran Employers Pension 510 Totsl a4726 6a.$66 The full tirne minister5 live in a property provided bythe church when in post. The church pays utilitiesand maintenance onthi5 property. No church employee wés paid more than £60,(th) in the year. Key management sa18ries. includingemployerfs Nl, totalled £nil as no ministerswere In post duringthe year12022.' £40,153). 5b pethslon Currentemployees have pension5 Wlth the Bapt15t Pension Stheme, the costs of which are ac(ounted forwhenthey fall due. Deficiency contributions were piid to the Baptist Union scheme on behalf of formerministers RevA Burnham and Rev Brian Rèed. see below for details. The church pays deflclenry contrlbutlons forformer employees Into the Baptist Mlnister's Penslon fund, whlchls 3 multi employer flnal $31ary defined benefit pension scherne. The total deficienLV Contributions paid Into the Bapt15tUnion Scheme during2023 wasE1212022.' £4,793]. No additional adjustmenttothe outstanding liability on the Baptist Scheme were made atthe end of the yearforthe movement in the longterrn liability of the deficit12022.. £56,307decreasel. 14

Tarylbleflxed assets Church M8nse5 FlXturÈs & Fittings Equlpmert Totsl Co At ljanuary 2023 Additions 896.993 79.807 30.662 L016 Lgjl L016 Di5PD5a15 At 31 De￿rnberYJ23 896.993 7Y.807 3L678 t ijanuary 2023 Charge forthe yeaT Diswsa15 At310ecernber2023 61,XKI 61,295 37,fj84 IL282 24,555 .Q34 67,5 67.275 49.966 3LrMIi 215.742 Nel bookvalue At ljanuary 2023 838,5 835,698 4L121 6.107 LnI42 At 1lDeteMb￿ 2021 832,S(K> 829.nB 29,841 677 L6J17a6 Oneofthe TTranses iscurrentty letwhilstnot in use by a minister. A5th15 15 notexpectedtobea petm£nentarrangemenLthe property has not been redassified as an Investment. The Oiher manse wa5 belng prepared forthe new mlnisterat the balance sheetdate. Debtows 2023 2022 Totsl Amount5due within one year Le8ary due Dtherdebtor5and prepayrnents Tax recoverable 5,3 22,826 28.216 .$94 .138 Totsl Credit(W5 2023 2021 Total Tot81 Amounts falllngdue wlthln oneyear otheraccrua15 ALrountanry & Independent Examiner5fee 28.153 26,858 3¥013 29.738 15

Restricted Fund5 V￿eSt￿￿e￿ FLWX GerhEYal Fund Is510n WDtk Groups &club5 FixedA55ei Re5etve 2023 Fund Fund Fund 1281 112811 L016 215.￿8 12rA,IoJi Resaurte5 expend￿1 Tran5fer5 Othergain5111(>5%%1 18,3221 ILW} 129.6Y21 oakn￿5brCU1hlfCIWWd 8.188 937.IM3 •alarKe$4131 CwernbEr2021 9.(h53 1.092.7)0 Y9.103 16x755 Restrlcted Funds V￿e￿Lled P￿5 Ger￿al Fund Idren's Fund Group5 &clubs Fixed Asset Reserve work Fund Fund Totsl ItKotninBre50ur(e5 Resour￿ expended Tran5fer5 Othergain51{1(ssso51 Net rnovementfffifur 3,164 13.241} 14552B IU6.2911 9.675 I3￿32) 13.6%) 13L1421 119&aoii I9.6￿) 56.207 26A5I 14651 13J321 9.6 0a￿n￿5brcUghIfcIWWd 9￿28 3.532 9.675 1.737.449 88L8 165L163 Oal•rKu4t31 CwernbEr2022 9.063 i.n2.428 937. 1677.614 Restnctedfund5arefund5that aregiventothecharityareheld ontWStfor5pendingon 5pecJficpurpose50r. inthec£5eof group53nd dubsare linkedtothe thartty and do nothavetheirown le8al identty. The Children'5 Fund- lundsgivent05UPPOrt workwith thildren. Mis5ionwork- 5UPPQrtinga nvrnberof rnissionwotker5and otherChD5tian wotkersboth inthe UK andover5e05via donation5. Hardship Fund- moneyraisedforthose in need Groupsand clubsare activitiesheld inthe church bu1ldingbyorgani￿tIonWhich have noseparate legal Identityand 50are requiredto be Inc0￿rated In these Unre5trirted funds arefundsthatare held bythe chartyto useforgeneral charitable purpose5. The fixed 355et re5etve represent5thefund5which c/nnotbeacce55edwithoutdisposingof fixed a55etsor(urrent a55etinvestrnents. Generalfundsarèthosèunrestricied funds available inthe shorttsrmtofund generalchAritable attrwltie 10. NotAsSÈtsbyFund Unre5trKted Restricted 2021 Unrestricted Restricted 2022 Total 1,6947 997 lji.0331 1.fi92,7]6 1.722A28 966.823 129.7391 1.722A28 984.924 CutrentA55et5 ,ioi IJLOJJI 2,641WO 1658,752 2,659.512 18.IOL 11. Relat@d￿ttytt9nSa￿<>ns Noremunerationorotherbenefit5WEre paidtotru5tee5duringthe currentorpnoryear. Detai150f the man5e5are(Dnt8ined nute5.8. NOtrU5tee5o(￿p1edthe m8n5e5duringtheyear. Trusteesrnado donatlonstothe charltyln Ilnewlth 8onoral con8reggtlonal8lvln8totsllln8approxlmately£26,050. Nodonatlonstothechurch worernade wlth condition50utside of the u5ualactivities ofthe Chur(h. 12. Independentexamination The Independentex3mination ofthe acrovntswhich is required bych3rity l¥w hasbeen ￿rne￿out by Katherine Dee of Begbie5 Chartered Acwuntant5. Begbie5fee of £2,4￿pIuS VATisacctued in th@3Ecounts undergovérnancÈ costs. 16

Actuarial valuation as at 31 December 2019

A formal valuation of the Defined Benefit (DB) Plan was performed at 31 December 2019 by a professionally qualified Actuary using the Projected Unit Method. The market value of the DB Plan assets at the valuation date was £298 million.

The valuation of the DB Plan revealed a deficit of assets compared with the value of liabilities of £18 million (equivalent to a past service funding level of 94%). The Church and the other employers supporting the DB Plan are collectively responsible for funding this deficit.

17

Post-rotlrementmortallty In I[￿rdanCe wlth 80%ofthe$3NFAandS3NMAtable&. wlthallowanceforfuture1rnprov￿me￿t5In mortaiityrate5from20ts In IlnowlththeCM12019(or impioveMentf¥¢tOr45%. Dunng2022theSrheMesiEned inagrEernentwiththe in5vrinrEcompanyJu5tGroupl'Ju5VltQ5erureDBPlanmernbet5' pen5junbEnefit5. Th15aEreemElltiS relerredto a5 B'buy-ln polic. ttfollow5a 5imilaragreernentwithJu5t In2019thatcovered m05tpen510ll5 in paymentatthattime.Thecornbinedagreements me&n Re¢overypia A5are&ult ofthe buy-ln polic(.theT￿stee5ndth@ÉaptI5tuTrI0nhlVQ a4reedthaldeficitcontnbutlonswill reducetDÈipermonth foreach employerfrDmtheAugu 2022paymentuntllJune 2026. Addltlonal(ontnbutlons mayborequlred Infuture. Asa rosultofthlschan8e, the£6LIWestlrnatod defI￿tat11S￿DocQ￿b￿1IO2l,9lld t21,7We4timatÈddofitsta4at lffthjurte 1022hasboèrt redutod tonillThthosèattount4for2022aThd 2Q23. Movementin Balan(eSheetlwbility Sèrtloffl 2&11Aof lQlYequlrosa8roeddofltitretoverypaymentsto bÈ roco8ffllsod a4a Ilablllty. The movomontlntho prov1￿0￿ IssÈtts￿t1nth@ tablèbelow. A(counttngdate lyear0￿[rej'. 31De(eMbor￿j2 JIOecomber20 PeMainingchèn£etu balinrE 5hEetliabilityIr￿o￿1sEd inSuFAI Balan(e Sheet Iiabilityatyearend cessatlon e¥eni Con5equentuponthe departureof the Min15ter. ReVdAndrew 8urnhèm.fromtheChurch in2019.the Church had 85econd cessation eventunderS8ction 75of the Pen510n5Act1995. tho flrst havifflgotturrèd In 2O13wlth departurèofRov'd Brlan Rèod.Thls make4thoChurch Ilablo fortho proportloffl ofthÈoverall defidtlassÈssed by roferèntetothèco&tof 5ecunngbeTrefit5 bythe pur(hB5eolannuitie5I applicabletoits previous Min15ter5whoweremember50f thescheme. ID2019theChur(hentEred Trferied DebtAtrangemEDV. UDderthi5arrangernentthE Church i5DplongerliablefortheorigiDaldebttriggEred bythedepartuieof REV'd Reed, buttheChur(h(ontinue5top8ytheongoin8dehcienLycontrlbutionss5 oirtlined above.There are Ilffllted drcumst8n(e5underthe DeferredDebtArrangementwheretheChurch In2U22theChurth 1&agaInw￿kQ1Ita mlnl&tor, buthasa8rooda porlod of8ra(￿wherQbY1h￿ Churchdoosnottrl8geranotheTSeLtlon 75 cossatlon eventtoonablethechurthtoflnda ew Min15tEr. 18

cornpar￿¥￿ Ststomontof FI￿nt￿l￿t￿ltI￿-￿sadjUStQd Unrestii(ted FU￿d5 Re5trirted Fund5 Total Note In¢omlnE resour¢es Iwomeand endowrnentsfrom.. 121.fj32 Lottlngof thurch prornlsos Churchgroups 14,2SI 14151 2b Investment5 indudingrentsl and legacymansgetnent Rent Interest 5.567 567 Total 1.050 R•saurcos Exynd Exynditur• on.. RaisingFunds- EOSt50f providinggood5 and setvice5 5,834 5,814 ChaiitsMEa[bV￿￿5 Church worklincpreachin& pastoraland 3a 16L811 164216 V41 Church worklthurchgroupsldubsl 3,241 3b ,788 27,0 Totsl tharitsbl@artrrfitios 1,599 10,928 I￿527 Totsl Expenditure 187.412 10.928 19a461 NetincornellexpeNJiturel& Net 125.7821 140151 129.8571 Transfersbetween funds 9,6 56,307 a07 NEttnovement in fund5 I￿,150] 26,450 Retonciliationof Fund Total Funds broughtfoyward Totil Fundi urri•d forwird 4019.all 165LI61 2,659,512 18,101 2,677,614 19