R•gist•red number. tM043770 Charfty numb•r.' 1147984 GOLD HILL BAPTIST CHURCH (A Company L5mlt•d by Guarantee} TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 GOLD HILL BAPTIST CHURCH A Company Llmlt•d by GuarnDt•o) Reference and Admlnlslrallve Detalls of th• Company. Its Tru5t••s and AdvSs•rs Tru¥t¢es' Rgport 2-10 Ind•p•nd•nt Audltors. Report on the FIna￿thI 8t•tom8nts 11-14 ststem•nt of FlnanGlal Actlvltl•s 15 Balanu Sh•et 16-17 Stal•m¢nt of Cash Flows 18 Noles ¢0 thg Flnancl•l Stst•mènts 19-43 GOLD HILL BAPTIST CHURCH (A C•ny Llmlt•d by Gu•rnnt••) REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 IAARCH 2024 TTUSt••s Alfred Bigllw (app￿ted 11 Jum 2024) Guy Path Ireswjned 19 Mwch 2024) MarK)n Lugard Mark Raynw {app)inted 17 Septenknr 2024) Company r•ght•r•d number 08043770 Ch¥lty r•gl¥l¢r•d nuM￿r 1147984 R•gl•t•T•d offlc• The Hub Church Lan• Chalk￿1 St Peter SL9 9RF Ind•p•nd•nt *udltor¥ Shaw (knltt) Lknknl ststuiory AuthtorB Woy thrt Wgsl Unlon Roa(1 Famham Surrey GU9 7PT Bank•rs 250 Bi8 Soll¢ltovs 134 E¢knund Streot Birmingham B3 2ES Page 1 GOLD HILL BAPTIST CHURCH IA Company Umlted by G￿rant8*? TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2024 The Trustees. vtho are Etders of the Church. larKI ¥e also directors of the chafity for the puwes of Ihe Companies Act) present their annL￿1 repryt together wrth the audited financial statements of Gold Hill Baptist Church I'lhe Conwnfl for the year ended 31 March 2024. The Trustees confirm that the Amual report and financial slaiements of the Conyny eompty with Ihe cwrent slatulw requ1￿MentS, the requirements of the Compan￿5 governmg document al￿ the provisions of the FRS102 Statement of Reconwnendgd Practice (SORPI 'AccountiNJ and Reporting by Charities-. dlectrrfe 1 Januw 2015. Structure, governanc•. and manag•m•nt a. Consltutlon The ¢onw￿Y is reg￿tered as a thwitable l*mited by gugrontee ¥￿th Corroany registration number 8043770 and was set up by a ￿4eM￿arthm of AsSLKIath￿ on 20 Apra 2012. The c(Knpany is a regislored Charity number 1147984. The principal objects of the corr4)any are: The advanwnent of the Chrithn failh a(tc*dTh3 lo the principles 8<*d practices of the Baptist denc¥nir)ation. Olher charitsble purposes in Ihe United Kiryjw (thgr pats of the There have bèen no changes in thè cbiectpth since the last annual report. Mlsslon of ¢h• church . aim5 and obiectlves Gold Hill seeks lo futythvded disc*s of Jesus. We do this Ilwwgh upholding the f0lknw1￿ values: Bible Salurated Refianl on the Holy Spirit Expectsnt r* Prayer People Focused c. Publlc Benofit In planning the athities for the ￿ar. the Irustees have considered the Charity Commissron's widance on public benefrt and. in particular, the specific guidance on Charilies for the advancement of religion. The charity seeks to serve the to¢al eonynunity in wh￿h il is situ*ed as well as engagirYJ in natIc￿￿ and international ministry. In accordance wrth the require￿ntS of the Charths IA¢¢wnts Reports) Regulalions 2008, the Trustees confmi they have ccryI￿d thith that duty. d. Ofganlsatlonal structhr•; d•¢Sslon maklng: Inductlon and tralnlng of truste•s As at 31 Maich 2024 the Church h•1 circa 331 full Church memb8r5 on its records, circa 60 adthtyonal regular attenders. {with a further circa 255 mainlwning asxK1at￿Jn V•ith Gold Hffl as Fr*ndsl. The members are invited lo meet low limes a year at a Church Meeting to revw the actmt￿s of tho Church and make key decisions on strategy and fmanee, presented by the Etdeys. as wel as •proving key appointments. There is an ele¢led Church Council, representin9 a ￿de range of mini8tfies and aclrvrties. whth consists of the elecled Eldern and elected Deacons and fvrther elected Church representatives. The Church Couneil meets lour limes a year lo ConS￿er new initiatives and plans preserthl by the Elders wv)r to Presentat￿ to the Church Meeting. Page 2 ¢30LD HLL BAPTIST CHURCH c￿nY LITnlt•d by Guar•nt••) TRiISTEES' REPORT (CONTINUED) FOR THE YEAR eNDeD 31 AIARCH 2024 •. Dlr•¢tors; Tnwlw•; Eld•r• & Trolnkng The Company has a number of Ehjers who are aLs0 Dired￿$ aThJ Charity Trustees of the Company. Those have hehj thi$ FAisitiM durfrKJ the ended 31 Marth 2024 and as at thè date of this report lunle8s olheThvi5e slated). w&r& as follows: Rev Stephen WaN(er-Willlams Alfrod Blehler {apwnted 11 June 2W24) Antonia Casllg Marion Lugard Guy Parkin Iresp3ned 19 Marth 2024) Mark Rayner laFwinlal 17 Sep*mber 2024) The Companys conslilulon specffies that Ma1￿ of DireGtrys cha￿tY Trusteès musl b? noTrsal8ri8d members of the Church. There are a Mmber of olher pe#J emplosw of tho Churth who are also Eklers of the Church. Those who have hekl this positK)n thrh¥J the ￿ar ended 31 Mwch 2024 and as at the date of thls report (ot￿r than a$ stat8d). w8re as Dave Criddl8 (resigned IM 3 Juty 2023) Joyce Gledhlll (resigned 19 Mwch 2024) Jennffer Ollph￿l James Slmmons The Elders are approved by the ch￿th Coundl and elected by a ballot of the Church members. To be appointed tlw have to achieve Seven￿￿ve percent ol the votes cast in ￿ balloL All appointees will akeady have been Inlegrated into the Ife of ￿ Churth. before Lw Mnin*d and they receive on th8 job luilion by attendiThJ Ehyers. Meetiigs. They also provided ￿1th maigrial on responsbllbtlas produced by the Charity Commisslon and the Baptlsl Unitj) of Gre￿ Brita¥). f. Volunt•Orn The mlnlsty of the Church reK9s very h8o￿Y the th of vdunteets. tha ￿ar, we emplo>*d up to 7 full tlme equvalent staff. some are fijll time aThJ othels part timo. Ho**ver. wo ostimate that there are over 2(M) volunteers invow In tho varfcyts MIr￿the$ of Iho Chwth thludiTrJ Leadership. Chilthon arKI Youth Work. CoMmun￿Y Famity Work. Finance and PAlminislraknn. Pastoral Cwe, Sunday Ministy and Members in Mission. g. Rlsk m•n8g•m•nt The Trustees have assessed Ihe rna1￿ risks kn t*lw* tOn￿Y is eXr￿d. in partsculor Ihose rel81od to lh& operations arhy fiTh8n￿8 of the company aTrJ are $8knsfi8d those $￿emS and prcthdures are kn ￿8c@ to MI￿gate our exposure lo the ftwr rfsks. Page 3 GOLD HILL WTIST CHURCH IA Company Umlted ty Guarnnts•) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Objectlves and Actlvlties The principal objectives. aims and mission of the church are detaded D8tai15 of our current aclivities can be found on our website al Whw.gddh￿.arg. A¢tiMt*s undertaken during the >*ar to ¥Cl¥e￿ our otiedr4ps I￿￿le.. . Sunday Worshlp During the ye¥. held our Sunday mcffitTr3 sep4Kes at 8.4￿ arKI lo.30￿￿ in the main Hub buildiw. Our yQLth group continued to hokl th*"r ser¥ices each S￿idaY eveMvJ. b. Onllne Prns•nc• Goll HIN publithes a Twebsite that no4V has mud) eXTr￿ded lunclKJnality and usablty. 11 makes us more effective in our efforts to ¢ommuntste who we are lo c￿r community and enables space for u$ to produce and promote resources and materi4 to he￿ wple faith and re&h olhets. We contiiue to use S(￿￿1 medta and are seeking to develop this by iryilementiry a team, 18d by￿lUnteerS. to create contenl and interact onlwie. c. Ufe Group Mlnlstry Our Life Group ministy seeks to be the main Vray past￿￿ Ca￿ arKI discweshp is ￿ed oul in the chui¢h. They continue wth the ¢tear vists)n Ihal pgople in smaller groups Wt￿￿￿'share Lrfe. Share Jesus,. At the heart of this. it is an about havirrfJ deep, honest arKI xcour￿*1Q ralattonship5 wih olher people, growing in our disapl8ship finding ways lo share the ￿$sage d Jesus with others. There are group5 meeting within Chawont St Peter. as well as gr0￿S meetwvj acros5 Ihe wider locality, refl8cling the geographical makeup of our church family. Our Life Group leaders continue lo do a brilliant pb at supporting their groups and providing leadership. d. Short Terni Nlsslon Evènts During the year to 31 March 2024. Ihe Church has SUFWted several ShO￿terM mission wiitiatives. o. Local Mlsslon In the communlty The Church has continued lo hav¢ another successful serving the ￿￿M￿nity in addition lo Several local courses community in*i"alNe$. $￿e of these inrtotAes we H) the Hub building and others al5wh￿re in th8 ¢ommunty. 04 year olds: Toddler Praise has continued tQ p¥ents. carers and ther Pr￿Ch￿l children into the Hub on 8 Frxlay moming., with Child atteTrJance arouTrd per session. The Hub also ha$ aded a$ the location for local Hgallh VisitoTS and w-mwns adw¢e clinKs. 7-11 year olds: Hub n*3ht (previously kno4¥n as ￿r￿Je Plus). 7-118 Frthy e*ning Chibaren's ChJb engages with the local community and has a Child attenda1￿0 rarvjiry from 3040. Youlh: During the ye￿. Ihe Church ¢ontinLEd our partnership CSP Yovlh Centre. which we support on beham of the communty. by prowdw scrfne voktnteers. Over the cominp year we hope lo ￿neW and strengthen our partnership the Ycxrth Ckn. Adulls: The opwluThlylo enhance the reach Ihat we to have #i the communty through offering an arts and crafts facilty called'UnKiue Like Yw. cyerates frcrfn the Pkrb bulkji￿. Gold Hill has devebjped a Senws, Day. aThJ this attracts over 40 senior people each week every Wednesday. It has had a real impact ￿ the ccrfnmunty partie￿arlY as this area of work has baen idenlif*d by the County Council they we ncl able to resource it. The Church has conl¥iued a strcry partrwshp G¢4d Hill Home Cere which Provid￿ dom￿111ary Page 4 GOLD HILL BAPTIST CHURCH IA Company Limited by Guarant•e) TRUSTEES. REPORT (COKTINUED) FOR THE YEAR ENDED 31 IAARCH 2024 care across the wea. As part of Ihe partnwthip. Gokl Him HO￿ Care have offi¢e Spate at the Hub. The Hub continues to host a Ukraine calé- welc(MM9 Lfftraine guest$ slaying in the localty vAth a place ol Connect￿n. and thereby helping lo identfy their needs- with 5crne being mel on site. $u¢h a$ weekty language lessons. and ￿ti￿$10￿ ol ck)thiYJ and other artths required. This ministry al the Hub ha$ ￿en recognised as a centre of bcal resportse to the Ukraiiian conflict. Careers Springboard is a Charity that SUPPOrts people in career transition ¥idvding gTaduales. On Fridays fac&ls>f*e meetings are hehj in tr* Foyer at the Hub. These meetings are18d by members of Gold Hill and are open to anyone ￿ Ihe community. They pyovide networking opportunities as well as giving attendees the than¢e lo share theiT (y*n experiènees. Aitendees receive advice on various topics including CV rewews, Lnkedln, Ne￿O￿"r8. Jc& ApplratK)ns and InleNiew PraciKe. The Hub has al$0 been used lo support con¥nunfty heallh in a wiety of ways.. tr#)sting the annual Flu Clinic. enab￿ng the local Primary Care Nets¥ork to meet for both ptsnning antj Iraining. and acling as a base for communily Heallh Visitors lo host indivKlual meetmgs wrth parents children and run ea￿ years parenting courses. A mentsl heatthhdb5eing groLP was atso run at ts Hub ¢)ver a perK*J of 12￿Weeks. aNI a range of activities promotiThJ physical fftness aso provKSed siwiNxl. Local schoo15 have held both Christmas and ful school assembles m the main audrt0ri￿I. The opening of the Hub buihJir¥J enabled a dedicated space to be allctated lo our Foocknank 0￿rat￿)n. Partnering w((h the Trussell Trust F￿dbank in Chesham. we b¢Xh re¢eive donatiorbS. and on average delNer food pwce15 to around 10 homes ￿ the vllage per week. wilh demaTrJ continuing to grow. The People's Pantry. a Pl￿ where people Can come ehcose fresh or exira prCrfI￿ts for themselves opened in October 2023 is open thre8 days a week to people frcrfn the comrwnity. In February over 2,000 people came through The Namia Expeiionce at Ihe Hub {many t*iNJ Gospel tracts and having Jesus Conversations with people). The Church is a key plaJEr in the tw main kxal ¢proved by order of the menknrs of the board of Truslees and swJned on the￿ behaw by.. Rgvernn (Trusleel Dale.. i & Stephen Jam•s Vlalker-WlllSams M•rion Lug ITrust88) 20ty Page 10 GOLD HILL BAPTIST CHURCH (A Company Limtt•d by Guarantee INDEPENDENT AUDITORS. REPORT TO THE MEPABERS OF GOLD HILL BAPTIST CHURCH Oplnl¢>n We have audited Ihe financial statements ￿ Gokl Hhl Baptisl Churth (the 'charitable Compan￿ for the year ended 31 March 2024 wPMch comwise the Stslement crf Finnci81 Actiwlies, Balance Sheet, tho St8temenl of Cash Flows and the related notes. includin9 a sunThry of signrfKant ￿ountIng pol￿*$. The financial reporting framework that has been applied in their preparatAJn is applicable law and Unrted Kingdom Accounting Standards. including F￿a￿l01 Reportirvj Standard 102 Financial Repcfflin9 Stand￿d appkable in the UK and Repubkc of Ireland. (Uniled Kingd¢Jn Gener• Accerted Acc￿ntIng pr￿llee>. In our opinion the fmancAI $L￿ements.. gNe a true and fair Ve4V of the sL*e of the Charitab￿ Crrfnpan￿S affaits as at 31 MaKh 2024 and of its incoming resources and applieat*)n of fesourtes. inthdiNJ its income and expendf(ure for the year then ended.. have been property prepared Hi *ith Unkd Ktngth)m Generaly Aceepled Accounting PractKe", and have been wep*ed in accordarKe with the requiremwts of the Ctynpanies Act 2006. Bas1$ for oplnlon We conducted our audit in accordance *ith Intemat￿naI Standards on Auditing {UK) IISAS IUKI} and appl¢cabfe law. Our responsilM"lrties under those standards are furthef described in the Audrtors. re5ponsibililies for the audit of the fift￿claI slalemenls section of our report. We are indepe￿Ient of the ¢haril*Jle company in aecordan¢e th the &th￿al r8quiremenl$ that are relevant to OLK audrt of the financial statements in th8 United Kingdom, includiTha the Financial Reporting Counc￿$ EthKal Slandard. and V+* have fU￿￿led our other elhical responsibilrt*s in accord8nce ¥￿th these requirements. We believe that Ihe 8udit ewdence we have obtained is Suificienl and appropriate lo provide a basis for ¢)ur opwib)n. Con¢lusions rnl•tlng ¢0 golng coiicern In auditing the financial sialemenls. we have corKluded th* the Trustees. use of the going concern basis of accounting in the prepatalion of the ffinancial statements is appropriate. Based on the wi¥k we have performed. we have identrfied any material uncertainties relating to events oi condrtion5 that. indNidually or collectivety. may cast significant doubt on the charitable company's ability to continue as a going corKem for a Per￿ of at teast Iv*kn month5 from wthen the finan¢ial Statements ¥ authorised fw issue. Our responsibilities 8T￿ the responthdilies of the Tn￿lee5 with respect to 9D￿￿ concem are deKribed in the felevant sett￿n$ of this fep¢)rt. Page11 GOLD HILL BAPTIST CHURCH IA Cixnpany Limil•d by Guarantee) INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF GOLD HILL BAPTIST CHURCH (CONTINUED Othtr Informati¢)n The olher infomiation ￿npriseS the inforrrbakn Trr￿ded in the Annual Report clheT than the financial slatemenls and Lwr Audilors. Report Ihereon. The Twstees are responsible for the other information contained thin the Annual Report. Our cpinion ¢)n the finar￿181 sLqtements does not cover the other information and. except lo the extent otherwise explic*ty staled in our T8wt, we th* not express any form of assurance conclusion Ihereon. Our responsibility is to read the other inf0m￿l￿)n and. in doing so, ¢￿sider whether the other Informal￿n is Material￿ irKonsiStenl bvith the financial statements ￿ our kn(Y4vledge ¢)btained in tho course ol the audit. or otheThvise appears to be materi￿ty misslaled. If Kjenlfy such malerial inc￿$15tenCieS or ak¥Jarenl material mi$$lat8menls. we ¥e required lo determine W1￿her this gives rise lo a material misslalemenl in the financial slalemenls themsths. 11. based M the wort we have perfomed, we conclude that there is a material misstatement of Ihis other infomi3lion. ￿ we reqvred lo report thai fad. We have nothing lo report in thi5 regard. Oplnton on oth•r matt•r8 pr•scrlb•d by the Companl•s Act 2006 In oui coinion. based on the ur¥Jert*en in the course of the aLbJit'. the inforniatir￿ grrtn in the Trustee$. ReFt made,. or we have rKsl r￿e1Ved al the informatiw and explanat￿nS we require for our audit.. or Iha Trust8es vAre nol enlitl8d to pt8pare the fmanciai statements in accordance wrth the small companies iegime and lake •jv￿lage of the small ¢￿￿lanies. exenwtws in prepariThJ Ihè TNslees' Report 8nd from the requirement lo prepare a Stff*egic Report. Page 12 GOLD HILL BAPTIST CHURCH {A Company Limlt•d by Guar•ntae) INDEPENDENT AUDrroRS' REPORT TO THE MEMBERS OF GOLD HILL BAPTIST CHURCH (CONTINUED) Responslbllttl•s of truslees As explained mre fully in the Trustees. Re47￿$171￿11es Stslement, the Trustees (tho a￿ also the d*e¢tors of the charrtawe company for the pwoses ol company Ivwl are respcm5ible for the preparation of the financial statements and for being salisfied that IW give a true and fair vM¥. and for s￿h intemal control as the Trustees detemine is necessary to enabfe the prepar81￿ of financsaj stolements that are free from material misstatement, whether due to fraL￿d or error. In pr8paring the financial statements. the T￿￿teeS we respMsth ￿ assessing the chwita)le companls abl￿ty lo continue as a going corttrn, dis¢kJ$ry, as aPpI￿able. matters related lo going concem and using the going concern basis of accounting unless the Trustees either intend to Ib4uid* the chariiabk ¢ompany or lo Cease operations. or have no realistic altemalive bul lo do so. Audltors. responsibllitl•s for th• audh of thè fin*nclal st•tèm•nts Our objeclives are to obloin reasonable assurance about vthether the financial statements as a Who￿ are free from material misslalemenl, whelhei due to fraud or error. and lo issue an Audrtors. Rewt Ihal includes our opinion. Reasonable as5uran¢e is 8 htgh levd of assurance, but is not a guarantea that an audit conducted in a￿)rdance *ith ISAS (UK) wll akvays deted a material misstslemenl when ￿ ex￿ts. Misstatements arise from fraud or eThor and are cortsidered malerHI rf. WKlwwluatly or in the aggregate. IW could reasonabty be expo¢led lo influe￿8 the ecc￿￿ decis1￿5 of users laken M tt* ba$is af these financial statements. Irregularities, indudin9 fraud. are instances of ￿n-o￿lIance with laws and regulations. Wè design procedures in h.ne wlh our responsi￿"ll11es. outlined al￿. lo delecl material misstatements in resped of irregula11t￿$, including fra￿. The extent to ￿1th our prrK&lures are capth ol deleding irregulariti'es. including fraud is detailed behjw: We gained an undersknding of the legal and regulatory franmvth applK* to the charitable ¢ompary and the industry in wthieh it opeiales. and considered the risk of &ls by the charitable company that were contrary to applicable laws and regulations. including fraud. We deS￿ned audit procedures to respond to the risk, recognising that the risk of not deleding a mateiial mi$$tstemenl due lo fraud is highef than the risk of not delecting one resulting from error, as fraud may dd'berate concealment by. for exaryle. forgw or intentional misrepresentations, orlhrough colusion. We focu5sed on law¥ regutstIc￿ whth coubj 9i¥t rise to a mater￿1 misslatemenl in the finwcial slatemenls, in¢￿ding, bul not limited lo. the co￿anieS Ad 20tE. Charities SORP {FRS 1021 and UK lax legislation. Our lesls included agreeing Ihe ffiancial statemeni dBckssures to undetying supporting documentation 8nd enquiries with M￿09￿ment. In adÉknn to thi5, durin9 the course of the audrt our testing reviewed experKliture on chanlable ￿tIvitIeS to pro￿de assurance that cosls were relevant to the ¢haritls activities. AS in all our audrts, we also addressed the risk of management overrKle of intemal controls, including testing joumals. classrficalK)n of fund$ evalualiThJ whether there was evidence ol kn'as by the trustees that represented a risk of material misststement due to fraud. There are inherent lThitations in the audrt pr￿edureS descr*>ed above and. the furthor removed non-compliance with laws an(1 regul*iorbS is from the events and transa¢titins rellecled in the financial statements, the less14kely we wouhj bec(#me aware ol it. Wo did not Klentky any key audit matters relating to Irre9￿ar¢1￿, including fraud. A luflher Ilescription of ow resp￿￿111eS for the 8LwJit of the financHI Slalements is located on the Financial Reporting ce￿ne1$ website at.. W￿.fre. .uklaudilors ons*>ilities. This description forms part of our Audrtofs, Rep)rt. Page 13 GOLD HILL BApnsT CHURCH IA Company Limit•d ty Guarant••) INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF GOLD frllLL BAPTIST CHURCH (COPrnNUED) Use of our report This report is made solely to the eharitable eompanls trustees. as o I￿￿￿, wi ae¢ordance with Chapter 3 of Part 16 of the Conyanies Act 2006. Our audit work has been und8rtak8n so that we might slate to the charilablo company's trustees those matters requ¥ed lo slale to them in an Auditors. Report and foT no other purpose. To the fullest extent permitted by law. do not ac￿p1 or assume responsibilty lo anyone other than the charitable Company and it$ rnembers. as a b￿. for cwr aKlil W(￿k. for this report, ty for the opwiitsn$ we have fomied. Mark Dlcklnson FCA {Senlor Statutory Audltor) for and on behaf of Shaw Gibbs {Audh> Limited Stslutory Auditors Wey Court Wesl Un*)n Road Farnham Surrey GU9 7PT Date.. 03 1,.1102+ Page 14 GOLD HILL BAPTIST CHURCH IA Company Umlled ty Guaranteel STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNTI FOR THE YEAR EMDED 31 MARCH 2024 Unrestricl•d Re5trlct•d lunds fvnd$ 2024 2024 Total funds 2024 Tolal funds 2023 Note Income from: Donations and kgacies Charitable aelivrties Inveslmonls 506.926 34150 922 41.161 81&505 1,321,431 35.150 1,683 41.161 779,090 23. 732 93 7.761 (Xher iicome 42,906 Total income 583,159 823,266 1N06.42S 845.821 Expenditure on: Charitable activrti&s 660.272 286.856 947,128 909. 184 Total •xpendltur• 660.272 286.856 947.128 909. 184 Nrt Itxpendlturellincom• b￿orn net gains on investments (77.1131 536.410 469.297 163.363) Net lexpendlturglllncome Transfers funds ITI,113) 19.206 538,410 119206) 459.297 (63,363) 20 Not Movement In funds 157.9071 517204 459.297 163.363) Roconciliaiion of funds: Total funds brought forward Nel movement in funds 3,707,718 167.90n 4.055.654 517204 7,763.372 459.297 7.826.735 (63.363) Total funds carrl•d forward 3.649M11 4,572058 8.222.669 7. 763.372 The Slalem8nl of Financial Activities includes all g￿nS and knsses reccsnised in the year. The notes on pages 19 10 43 fomi part of these finar￿181 sLiteM￿. Page 15 GOLD HILL BAPTIST CHURCH IA Company Llmll¢d by Guarant••} REGISTERED NUMBER.. 08043770 BALANCE SHEET AS AT 31 MARCH 2024 2024 2023 Flxed as8•ts Tangtlle assels Investrnents 14 15 8.951.118 9, 154,665 ,951,119 9. 154,666 Current assets Stocks 16 915 149.074 54&845 Deblors Cash at bank and in hand 17 152.872 924,736 1.077.608 698,834 Creditors: 8mount$ falling due within one 18 (690,4111 (619. 106) Net ¢urr•nt assets 387.197 79, 728 Totsl assets less current Ilabllltles 9.338.316 9.234.394 Creditors". amounts falling due after more than one year 19 11.115.647) (1,471.022) Total net assets 8.222.669 7.763.372 Charlty funds ReslrKted funds Unrestricted funds 20 4.572.868 4,055.654 Designated funds General funds 20 20 3.547,519 102.292 3,615,456 91262 Total Unrestr￿ted fund$ 20 3.649011 3.707,718 Total funds 8222.669 7.763.372 Page 16 GOLD HILL BAPTIST CHURCH IA Company Limited by Guarantee} REGISTERED NUMBER: 08043770 BALANCE SHEET ICONTINUEDI AS AT 31 MARCH X124 The enlty wa5 enlitled lo exempl*)n frwn amlit urmder sectwjn 477 of Ihe Companies A¢t 20Q*. The membets have not reqwred the entity to cotain an audit for the year in quest￿n Wi xcordance Trmih section 476 of the Cc4npanies Act 2c￿. H¢J¥ever. an a￿11¢ is required ￿ xcordarKe with sedion 144 of the Charl￿5 Act 2011. The Trustee$ a¢kncwledge their reSpon￿leS for c(mplyww with the requirements of the Act with respect to accounting re¢￿d5 and prep¥al*)n of finwKial stateThrts. Th8 financial statements have been wepared in acctydarKe WU) the provi5K)ns aP￿Icable to entit￿$ subject to the smau companies regin*. The financial statements V4*re approbtd and author￿ for issue by Tntslees and signed on theK behalf by.. Reve d Stephw James Walk•rJKINiams ITrustee) Date". IAarion Lu (Trustee) zu The notes on pages 19 to 43 fcrfm part ofthese finarKial ststements. Page 17 GOLD HILL BAPTIST CHURCH IA Company Umlt•d by Guarante• STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 IAARCH 2024 2024 2023 Cash Ilows from oyrating activities Net Cash used in operating xtiviti8S 673.892 239,880 Cash Ilows from Investing actlvhles Dividends, interests and rents inve5tnwnts Purchase of tangible fixed assds Pfoceeds from Sale of investments 8.683 (17.2601 93 (69,248J 8.HO Net cash used In Invesllng xtfvitl•s {8.5771 160.7151 Cash flow5 from flnanclng actlvltl•s Cash inllow5 from new boThoww Repayments of borrowing 149,000 1438A24} (96.573J Net Cash used In financlng actlvltles 1289N24} {96.573} Changg In ¢￿h and cash •quivalents In the ye•r Cash 8nd cash equivalents al the beginning of Ihg year 375.891 82.592 466,253 Cash and cash •qulvahnts at the end of the year 924,736 548,845 The notes ￿ pages 19 to 43 frffii part of these finartial sL*ements Page18 GOLD HILL BAPTIST CHURCH IA Company Lwnited by Guararkt•el NOTES TO THE FINANCIAL STATEMEMTS FOR THE YEAR ENDED 31 IAARCH 2024 G•n•rnl lThformatioTh Gold Hill Bapli5t Church is a ccrfpcrfate chty limiled by gu*antee. rKupcrfated in Engl￿d and Wales. Registered Nwnber.. 08043770 Its principal office is at The HLA>. Church Lane. Chalfont St Peter. B￿*inghaM$hlre, SL9 9RF, ETrJlaTrJ. Ac¢ountlng poll¢leg 2.1 Basis of preparation of finan¢ial *tsten*nts The finarKial statew*nts have Lwi pryed in xcordance with the Charrties SORP IFRS 102) - Accounting and Reporting by Charities.. stat￿)ent of Reconvr*nded Pradice applicabl8 to charities preparing their accounts in accordance with the Financial Reporting Standar(l applicable in the UK and Repubk of Ireland IFRS 102) (effective 1 January 20191. the FinancFal Reporting Standard appkable in the UK and of Ireland IFRS 102) and the ¢crfn￿Th1es Aet 2006. Gold Hill Bwisl Church meets the defmrtion of a public benefrt entity under FRS 102. Assets and liabilities are initially Tecognised at h￿tOr￿al Cost or transackn value unless othe￿1$e slated in the rdevanl accounting Fdcy. 2.2 Golng concern After making appropriate erryiries. Ihe Trustees have a reasonable expectalton that the Company has adeqLple resoLrn lo wntinue in yrational 8XiStenc8 for the forseeable future. For this reason. they contuiue to adopt Ihe wng concern basis in Prepari￿ the financial ststemenls. P￿¢ 19 GOLD HILL BAPTIST CHURCH {A Company Llmlt•d by Guarantee) NOTES TO THE FINAMCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Aecountlng policl•s Icontlnued) 13 Incom• AJI income is recognised I)￿e C￿nY has enlittemenl to thg inc*>ne. l is probablg that the inccffie will be received and the amnt of inec¥rÈ receivable can bè measwed reliabty. Th& recognition of income frcrfn legaues is dependent ￿ establishing enlilkrnenl. the probabilty ol rec*pl and the abilty to estinate wilh sufficienl accuracy the amount receNable. Evide￿? of entitlement to a legacy exists when the Ccrfnpany has suffitienl evidence that a gift has been left to them (through knowledge of existence of a valid will and the death of the benefactor) and the exe¢Lrtor is sa1*f￿d that the prcyty in qu￿¢￿ wll not be required to sali5fy ¢laims in the estate. Recepl of a legacy must be recognN8ed when it is probable thai it wll be received and the faiT value of the amount receivable. whth wil be the expected cash amounl to be distributed to the Company. can be rebbty rreasured. Gifts li kind donated for distr*Jution are inckmjed at wdluation and recognised as incorre when they are distributed lo the projects. Gifts donaled for resale are induded as incc*Y* when they are sold. Where the donated yO￿j 15 a fixed assel. it is measured at fair value. unless it is impractical to measure this reliaw. in whth case the cost of the rtem to the eJ)nor should be used. The gain is recognised as in¢m from donations and a ￿0$Pr￿dIng ￿ount is inclL*Jed in the appropriate fixed asset class and depreciated ovw the useful economic lrfe in accordance wrth the Companys accounting pol￿18S. On receipt, donated professicffia services and faciltties recogni58d on the basis of the Wdlue of the grfi to the Company whth is the amount il wwld have been willing to pay to obtain services or f8cilrties of equivalent eConC￿rIC benefrt on the cyen markel,. a correspC￿dIn9 amount 1$ then reeognised w) expenditu￿ in of recew. IrKome tax re￿Verable in Telthn to Invest￿ incffft 1$ re¢ogntsed at the ts'me the investment irKome is receN**. Other income is reco9nised in the in il is relxivable to Ihe extent the goods have been provided ¢Y on completion of the seivF¢e. 2A Expfrndlture Expenditure is reeognised onee there i% a legal or constnKlive obligaticm lo transfer economic benefrt to a third party, it is prc*able that a transfer of e￿nOMiC benefrts will be required in settlement and the amount of the o￿lga1￿7n can be measured reliaFAy. The ch￿￿h has one acti¥ty and therefore there is no sp&t based on Expelldrture on charitable pthities is incwred on dire(*ly undertaking the xtiv11￿S which further Ihfr companys objKlives. as v￿1 as any a$s￿l?ted $UPFQrt costs. Central support costs have been alk)caled on the basis of resources uséd and havè been apportioned lo Ihe costs of the thurch a¢lNilies and to govemance costs. GovernarKe costs comprise all costs re￿ to the publ￿ accourtabdrty of Ihe Church and its ¢c￿pIlanCe with regulations and g(￿ yathe. These ¢o$ts indude ￿51$ réE8ting to the slalulory audit. Page 20 GOLD HILL BAPTIST CHURCH IA Company LIMIt￿ by Guarantsa) NOTES TO THE FIMANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Accourflng policies Icontinu•dl 2A Expendlturè (contlnued Grants payable are charged in the y I￿n the offer is made except in those cases where Ihe offer is conditic￿al, such grants bery re￿nISed a5 expendrture when the conditions atta¢hing are fulfilled. Grants offered suty'ect lo conditions whKh have nol been met al the ￿8T end are nolod as a commitment but not xcnRd as expendrture. All expenditu￿ is inthsive of irreco*rth VAT. 2.6 Int•r•st recofvable Interest on funds hell on deposit is I￿￿KIed recwabbe aTrJ the amount can be measured reliabty by the CoNyany'. this is up)n notifKalion of ￿ inlere5t paid or payablè by the inslilulion wrth whom the funds are dep0￿'1ed. 2.6 Taxallon The Company is considered lo pass the tests set c4Jt in Paragraph 1 Schedule 6 of Ihe Finance Act 2010 and therefore il meets the defmilion of a charita)te company for UK corporalion tax purpose$. Accordingty. the Conyany is potentiak¥ exempt from ta￿￿￿on in respect of income or capital gains recwved With￿ ¢ategofies covered by Chapter 3 Port 11 01 the Corporalbon Tax Acl 2010 or Section 256 of the Taxation of Ch8r9eable Gains Ad 1992. to the exlent that such income or gains are 4)Fdied exc￿S1V￿Y to charitable purposes. 2.7 Tanglbl? fixgd ass•ts and dopr•ci•tion Tangible fixed assets costiryj £1.OCKI or ff4)re are capitalised and recogni¥ed when future economic benefrts are probable cost or value of the assel ￿ be fwsvred reliabty. Twgible fixed assets are init• recognised at cost. After recognition, under the cost mcdel, tangible fixed assets are measured al cost less accunwlaled depreciatb?n any aeeumulated impairment losses. Depreci81iM is not charged on freehold land. AM cost$ In￿rred lo bring a tangible fixed asset w)to its intended condition are i￿luded in the measurement of cosL Depreciation 15 charged w as to akKae the ￿$t of tangible fixed assels kns their residual value over t￿1r ests'mated useful Ip4es. Depreciation is provided on the foltr*iny bases: Freehotd properly- Buikling - Straight4ne method Freehold property- Equipmnt - 4% Straight-ll￿ ￿thOd Freehokl propety- Land - 0% Slraighl-line Thlhod Motor weh￿leS - 20% Reducing balance method Fixtures ond frttirys- Fumilure - 10% Red￿Ing balance method Fixtures and fftting$- Kitchen - 11fA straight4ine method equiimenl Fixtures and ffltings- AV equpmenl Computer equiprrnnl Office equipment - 15% ReducirwJ balance method - 20% Straight4ine meth¢)d 15% stra￿hI41n¢ method Page 21 GOLD HILL BAPTIST CHURCH IA C¢)mpany Umlted ty Guarant•• NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Accounllng polkles Iconllnued) 18 Inv•stments Fixed assel inveslments are a form of fmartial wistruff*nt and are recognised at their Iransadion cost and subsequently measured at fair value at the Balance Sheet dale. Un￿5$ the value cannot be measured reliabfy in wh￿h Case it i8 measuretl at ¢051 less impairment. Investment gains and losses, whether realised or unreaksed. are combined and ￿seAted as 'Gainsl{Lossesl on investnwnls. in the Statwnent of Fina￿￿￿1 ActNit*. Investments in subsidi&tes are vak*d at cost less provisKin for impawment. 2.9 st￿ks Stocks are Yak￿d at the of cosl and nel reabsable vahx after mokiNJ duè aliowanee for ¢)bsolele and slow4noving stc¢ks. Cost includes ￿1 dyect costs and an 8Fvropriatg proportion of ffixed and variatde overhèads. 2.10 Dobtors Trade and other debtor5 are recognised at Ihe selllement am￿￿1 after any trade dis¢ounl offered. Prepayments are ¥ak*d at the amount prepahl of any tr&le ￿k￿￿nts due. 2.11 Cash at bank and In hand Cash al bank and in hand ineludes Cash and short4em) highly IKJuid investments with a short malurrty of three months or kns from the date of acqUi￿110n or opening of the deposit or simlar account. 2.12 Uabllltl•s and provbions Liabilities are reCogri￿d when there is an 0t4b3al￿Th at the Balanco Sheet dale as a result of a pa$1 event. rt is prrt*able th* a transfer of econ¢thK benefrt wdl be required in settlemenL and the amount of the settlement can be eslwnated r81iably. Liabilities are rectrjnised at the amount that the Ccrfnpany anticipaies rt will pay to settle the debt or the amount it has received as advanced payments for the gfy)ds or seryKes it must provide. Provisions are measured at the best e5tvnate of the anounl$ required to settle the Obl￿atiOn. Whore the effect of the lime value of monay is material. thè provisKJn is based on Ihe piesenl value of those anounls, discounted at the t*frtsx d￿t rate thal refleds the rtsks specific to the h'abilty. The unwnding of the diseounl is rttognised wi the Ststement of Fin￿claI Activities a$ a finan￿ cost. 2.13 Flnanclal Instrum•Dts The CrAryany onty has financial assets and financHI liabilities of a kind that qualfy as basic financial inslrumenls. Basie financial instruments a￿ inrtially recognised at transaction value and subsequenlty measured at Iheir settlemènt value wih the exception of bank loans which are Subsequent measured 01 amortiS8d c05t using the effective interest metP4)d. 2.14 Operatlng leases Rentals paid under cperatiThJ lease5 we charged io the Ststemenl of FinarKial A¢tNilie5 on a straighl-line basis over the lease lenn. Page 22 GOLD trllLL &4PTIST CHURCH IA Company LImIt￿ by Guarant•e) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Account]ng polklM I￿ntInued) 2.16 Penslo The Company operates d￿ned pen￿Th sthemes and the pensKJn charge represents the an￿)Unts payot4e by1￿ c(Ynp￿y lo Ihe fuThJs in respecl of the year. The Company has Slaeholder Pension Schemes and relevant staff a￿ offered ccmlributions to personal pensK)ns wilhin three rn￿h$ of st*ting Servi￿. bthieh are accounted for as they fall due. The pension charye represents Ihe arn￿nts payablè by company lo thè funds in respect ol the year. 2.16 Fund accountlng Gerwal funds are Lmrestricted funds whth arn wdilable for LW at the dI5(Udi￿ of the Tru$tee$ in trljrtheranee of the genernl ctyctpm of the Ccfflw and which have not been designated for other PUTposes. Designate(J fLtnds comprise unrestricted fv￿J$ that have been sel aside by the Trustees for parti¢ular pU￿1$e$. The ain and use of each des*Jnaled fvNJ is set OLrt in thè notes to the financial statefflents. Reslricled funds are funds *thich are lo be ￿ed n accordwce spec￿¢ restrictions imposed by donors or which have been raised by the Corrpony for particular purposes. Th8 costs of raising and JministeriThJ such lunds are charged against the specific fund. The aim and use of each restricted fund is $¢t txrt in thè notes to Ihe fu*rtial statements. Inves¢menl income. gains 4￿j k)sses are akded to Ihe appropriate fund. Page 23 GOLD HILL BAPTIST CHURCH IA coM￿nY LMnit•d by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Crltlcal a¢countlng •s¢imat•s and •v•as of j￿Igment E$limales arKI judgments are continuaty evauated aKI are based on historica exper*nce and ot￿1 factors. including expecL3tions of future events Ihal are b*£ved lo be reasonable under the circumstsnces. Crit￿1 aCC￿ntIr* esliyth and assLryt*)ns: The Conyany makes estimates assunytv)ns concernirvJ the fulure. The Tesumiro &eounting estimates and assumptions will, by deffinitk￿. seldom equal the related xtual tesults. The eslima1è5 and assumptions that have a s*3nrficant risk of eausing a material adjuslment lo the carrying amounts of assets and liabil'lies the next firkincHI year are di5CU5sed bekyw. Crikncal weas of judgment.. Tangibte fixed a$$ets a￿ d¢pTec*ted Over thew useful ffives t&king into account residual vthjes where appropriate. The actual Ibves of the assets and residual values are assessed annualty and may vary epending on a number of factors. In ￿￿$se$s1n9 the asset INe5. factors such a5 technological innov81ion, product lrfe cydes and mai)lenance programmes are taken into account. Re$idual values ¢onsider future market ce*Klith)ns. Ihe remainiNJ hfe of the asset and projecled disposal values. Page 24 GOLD HILL 8AFnsT CHURCH IA Company Llmited by Guarantee NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Income from donallons and legacles Unrnstrlcted Restrkt•d funds funds 2024 2024 Totsl funds 2024 Analys15 of donations General Fund (via Gold Hill Church Trusl) Genefal Fund (received direcl) Use of Hub Facilities Hub Heart Home (HHHI Manse ProF8cI Felh)wship Fund Mission Fund Other 445.443 21.530 16.126 445.443 21,S30 16.126 461.624 304.892 461.624 304.892 20,464 4.092 21,933 4.092 37.260 15.327 498.426 813,005 1,311,431 Legacies 7.500 2.sc 10,IX#) Tot•l 2024 505,926 81S.505 1,321.431 Un￿$t17C1ed Funds 2023 Restiicted Funds 2023 Total funds 2023 Analysls of donatlons Ger*ral Fund (via Gokl Hill Churth Trusl) Gerwal Fund (TeceNed dired) Use of Hub Facilit*s HLts Heart Home IHHHI Fellowship Fund Mission FuTrJ Olher 457.619 7.133 19.273 457.619 7.133 22.428 213.031 27.785 2.868 48.226 3.155 213.031 27. 785 2.868 4&676 2.550 486,575 292.515 779.090 Tolal 2023 486.575 292.515 779,090 Paje 25 GOLD HILL WTIST CHURCH IA Comp•ny Limlted by Guarantse NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Income Irom ¢harltabk actlviti•s Unrestricl•d funds 2024 funds 2024 Use of Premises Card $ales 35,075 75 35,075 76 35.150 3S,150 Unftstitted fvnds 2023 Total funds 2023 Use of Premises Card sales 23.486 246 23.486 246 23. 732 23.732 Investment Income unrnStrict￿ Restricled funds funds 2024 2024 Total funds 2024 interesl 922 7.761 8,683 Unfftst17cled funds 2023 Tol 2023 Bank inl8resl 93 93 Page 26 GOLD HILL 8APTIST CHURCH IA Company LImll￿ by Gv•r•Thta•l NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Other Incoming resouv¢es Unr•strlcted fund 2024 Totsl funds 2024 Chldren and youth income Unique Like You ministries Other income 15.778 4.581 20.802 15.778 4.581 20,802 41.161 41.161 Unrostrict8d funds 2023 Tolal 2023 Chldren arnl yOLth wicome Un•4ue Like You ministiies at￿1 income 12.704 1,548 28,654 12. 704 1,548 28, 654 42.906 42.906 Anatysls of grants Total fund$ 2024 Grants 2024 Gh)bal Missk?n and Fellv*ship Fund 107.315 107,315 Total Gfftnts 2023 2023 Global Missil￿ arKI Fe1kn•￿h￿ Fund 111,521 111,521 Page 27 GOLD HILL BAPTIST CHURCH IA Company Lknltod by Guarante•) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Anatysb of grants (¢ontlnued} The follsxirrfJ grants there rYAde duriNJ the ￿r. 2024 2023 Analys1$ ol grnnts gl¥•n Global Mrss#)n FellLwshi? Fund 91,516 15.799 93,721 17,800 107,315 711.521 Page 28 GOLD HILL BAPTIST CHURCH (A Comp•ny Limit•d by GuaraTrt•al NOTES TO THE NNANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Analysls of •xp•ndllure on charltable aclivitl•s Summary by fund type Unrestrlctsd R￿trf¢t*d funds funds 2024 2024 Total 2024 Global Mission and Gc*l Hill Mtr)istrios 660.272 286.856 947.128 Unrnstricl8d runds 2023 Restiicled lunds 2023 To181 2023 Global MiSs￿n Gold Hill Ministries 664, 193 244,991 909. 184 Summary by ex￿ndIture type Slaff costs Other costs 2024 2024 Total 2024 GkJbo1 Mission wd GcAd Hill Ministries 225.636 721,492 947.128 Slaff costs Olh8fCOSts 2023 Total 2023 2023 Global Miss￿rt Gc4d Hill Ministries 258,359 650,825 909, 184 Page 29 GOLD HILL 8APTIST CHURCH IA Company Llmii•d by Guarant•el NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 10. Analysls ol exp•nditure by activhies Gr•nt funding of acllvltles 2024 undertaken dlrtctly 2024 Support costs 2024 Total funds 2024 Global Mission and Gold Hill Ministiies 154.126 107,315 685.687 947.128 AclMts8S Granl undertaken of direclty activilies 2023 2023 Support cosls 2023 Total funds 2023 Global Mis$M and Gold Hill Minisliies 138,863 111,521 658,800 909, 184 Anatysls ol dlre¢l costs Total funds 2024 Total funds 2023 Church Maintenance Heat arKI light Water rates S2.038 35.57Z 1,721 29.488 32.908 1.912 86 15,891 31.202 9,633 10,933 2.t33 4.417 110 150 Propety èxpenses Children and youth Outreach Ministry exp¢nsos Worshp support and events Visiting speakers Training costs Expenditure on bc¢&s and cards Hope Community Churth 17.880 15,442 17.111 9.370 1,854 2,163 975 154,126 138.863 Page 30 GOLD HILL BAPTIST CHURCH (A Cs)mpany Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 10. Anatysls of expendlture by acllvltles (continued) Analysls of support costs Totsl funds 2024 Tot81 funds 2023 staff costs Other staff costs Printing. postage, slatM)nery and te￿￿fte Computer supplies Subscwions Insurance 225,636 20,633 10.620 18.497 3,666 9.999 258,359 18,370 7,987 14.274 3. 141 9,893 r li Bank charges Depr￿latIon Miscelaneous Minibus expenses Unique Like You Minislms Loan interest pawnents Ministry expenses Legal and volessic￿l lees Grants and donalK)ns Govemance costs 1.792 220.811 5.156 1.553 S.692 109.385 413 817 219. 177 3.230 1.572 84.654 1.514 3.852 12.453 18.513 13.374 19.174 19.386 68S.687 658,800 11. Audltors. remunerallon 2024 2023 Fees Payab￿ to the CoMpan￿S auditor IDrthe audit of the c¢xr4)anls annual ￿coUnt$ 19,386 18.513 Page 31 GOLD FULL 8APTIST CHURCH (A Company Limited by Guarante8) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 12. Staff cogts 2024 2023 Wages and salarie5 Social security costs Contribution lo defined ¢l￿tribUt￿￿ pensi￿ sclvnes 195,243 11.648 18.745 219.594 16.031 22, 734 225,638 258,359 Included wTrlhin w4es and S8￿rIeS we ￿dUndarry costs of £NIL (2023: £10.404). The average nLm*er of persons emph)yed by ts c(Mnpany durvry the year was as fc4ltrws.' 2024 No. 2023 No. Average number of staff The average P*adcount expressed as fulkirne equN*nts was.. 2024 No. 2023 No. Full twne eqivalent employee re￿ved remuneration amounting to more than £60,000 in either year. During the year the key managanent pets￿ne1 le￿Tr. tom￿1 of the staff of 8ld8rs, were paid tcAal remuneration of £102.689 (2023.. £1B1.092). 13. TNste¢s' remunèration and expenses During the year. no Trustees receiwd any rem￿aratTh or other benefrts for their work a$ a Trustee {2023- £NIL). Duriw the year ended 31 March 2024. ￿ TNslee exp￿ have been thicurred (2023- £NIL). Page 32 GOLD HILL BAPTIST CHURCH {A Company Limitsd by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 11lARCH 2024 14. T•nglble flxed assets Flxtures Fr•ehokl Plotor and Ollke Computer propèrty vehkles fittings èqulpmènl •qulpment Total Cost or valuatlon At 1 Apn'l 2023 Additior 9,083.034 11.892 17,151 344.941 6.368 23.614 23A95 9.492.235 17,260 Transfers be￿an classes 114761 2,476 At 31 March 2024 9.094.926 17,151 350,309 21.138 25.971 9.$09A96 DepTe¢i•lion At 1 April 2023 Charge for the year 257.613 1n.119 3N30 58.072 2.744 37,498 4.756 3.171 13,699 6,275 337,570 220,807 At 31 March 2024 429.732 6.174 96.570 7,927 18,974 558.377 N•1 book value At 31 March 2024 .665.194 10,977 254,739 13211 6.997 8.961,118 AI 31 IAarch 2023 8.825,421 13.721 286.869 18,858 9, 796 9, 154,665 15. Flxod asso1 Inv•slm¢nts Investments sub$ldi•ry companles Cost or valuatlo At 1 April 2023 At 31 March 2024 Page 33 GOLD HILL BAPTIST CHURCH (A C•)mpany Limit•d by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 15. Fixed asset investments {contlnu•d) Prfnclpal subsSdiarle5 The was a subsKliay ukM*rtakirvJ ofthe company. Name Company nUM￿r Holdlng Untr4￿ Like You Limrted 09588313 100% The company was dom18nt throughwt Ihe perKMI fr(wn incOrp￿ation. Therefore group accounts have not been prepared. All fixed assel rNesln￿nts are held in the LIK. 16. Stocks 2024 2023 Cards and books 915 17. Debtors 2024 2023 Du? wlthln one yoar Trwje debtors Other debtors Prepayments arKI a¢¢rued income .274 134.800 11.798 4.948 120,675 23.451 152,872 149,074 Page 34 GOLD HILL BAPTIST CHURCH IA c￿1PaThy LIMIt￿ by Guaiantsel NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 18. Credltors: Amounts fallln9 due w6th1n one year 2024 2023 Other loans Trade credjtors Olher taxalion and social securty Olher ¢￿d￿or$ 443,064 16,316 4.533 201.071 25,427 377, 114 10.074 4,391 205,025 22. 690,411 619.106 Other loans Included wlhin ¢)ther loan5 £56.(64 {2023.. £58.114) due to the Baptisl UnK)n. see further ththure in note 19. Other loans also include loans lo the sum of £387.Lb)0 {2023: £319.0￿). These have been provided by Church members to fatlrtate the purthase of the Manse {£100.000) and purchase and build of The Hub, Church Lane (£287.O¢XII. Other credltors Included within other credrtors 15 a Sum 01 £194.936 12023: £194.936} hekl as reterl￿n funds on Ihe building of the hub. Also included are funds hekj as ￿ent. During the star inccrfne of £41212023.. £20.5761 was collecled on behaK of other charrtat4e or9anisations. Payment5 made to ¢h8rilable organisations of funds collected totaHed £1.18012023.' £19.5031. Fund$ not yet pa¥J over and recogntsed within other credilcrfs al year end totsl £2,11912023: £5237}. 19. Cr¢dltors: Amounts falling due after more than one y￿r 2024 2023 other bans 1.115,647 1,471,022 Other loans As al Ihe year end ihe ¢haTty h*1 a low with Wist Un#)n. At the year end this was repayabl8 over 15 years from 2021 at a variabfe interest rate with current monthty payThenls of £12.077. Amounts due in over S years by instsllment are £842.81412023: £1,210.C64). The Bapti51 Union loan is secured by a fixed thargè over the freehold prq)erty by charity. The Hub. Church La￿. P4e 35 GOLD HILL BAPTIST CHURCH IA Company Limil•d by Guarantee) MOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 PIARCH 2024 20. Statement of funds Stat¢ment of funds- current year Balance al 31 March 2024 Balance at 1 Aprll 2023 Transfers Inlout Income Exwndilure Unrestrlcted funds Designated funds Propety Fund Breadhouse Loan Fund Mission Fund (Part) Fellowship Fund (Part) Other Designated Gifts 3A85 183.5671 3,502,322 29.250 2.501 7.356 29.250 76.275 2.522 {1.5661 12,800 186.6741 11.933 17,9371 3,615,456 1178.078} 106A81 3,547,519 General fund$ General Funds 92262 579.499 1482.194 {87.275) 102.292 Total Unr05trlcted funds 3.707.718 683.159 1660.272 19.206 3,649.811 Restrlcted funds Hrtl Heart Home Manse FurKI Mission Fund (Parti Fellowship Fund (Part) Minibus Asset Fund Other Restrided Funds 3.914.461 20.750 5,287 41,571 13.721 59 1248.391) (9) 14.942) 11S.800J 12.744} 114.970) 110,672) 4.124.0 328,915 4A37 46.235 10.977 58,293 308.174 4.092 21.933 (8,S341 4,055,654 823,266 1286.8S61 {19,2061 4.572.858 Totsl of fund$ 7,763.372 1.406.425 1947.1281 8,222,689 Page 36 GOLD HILL BAPTIST CHURCH {A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 20. Statement of funds (continued) Restrfctsd fundg The Hub Heart Tr*me ftjnd represents the net book vak* of the Hub property. net of relate(I loans. lo the exlent that this has been funded by restrthd donat*)ns. The Mans8 Fund represents donaknns rec8i4*d forthe future purchase of a mar￿ property. The Minibus Asset Fund ￿preSentS the bc>)k value of the minbi us which has been funded by reslricted donations. Addrtional restricted donations the runnirvJ costs of the minibus are included within Olher Rèstricted Gifts. Oiher Restsicted Gifts represent dona1v￿5 recerrfed for Specif￿ puws. vthich have not yet been lully spent. D•slgn•t•d funds The Property Fund repRsents the net book value of the property (excluding amounts in the H Heart Home restricted fur￿) in the B*Ke Shee( thereby Identi￿r￿j funds not available for other purposes of the Church. The BreadlKwse Loan Fund represents the wtst*ing monies due from Gold Hill (Bread House) Limrted which are not currently 8val*Jle for (ther PUTpDses of t1￿ Church. Other Des*Jnated Gift$ represent donat￿n9 er received whKh h8ve been de$ignal8d by th& Trustees for specific purposes. ¥thth haNY not Jet been fulty spent. Fellowshlp fund The Felowship Fund accounts for donat*Jn5 gTh*n to assist individLHls in need and is lunded from both Testrided and de5ign*d ful￿$. ￿l￿10n fund The Mission Fund accounts for monies administered bythe Cross Cultural Tejm to bo distributed for th8 support of missions and missK)n work. prnwrity o¥eTseas. The restrided part of the fund reflects monies donaled for a partIc￿ar missw Page 37 GOLD HILL BAPTIST CHURCH {A C¢>mpany Llmit•d by Guarnnt••l NOTES TO THE FINAMCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Ststement of fvnds {¢ontinued) Ststsment of funds- prl•x y•ar Balance al 31 March 2023 Tr8nslers l 2022 Unrestrfctod funds Dèsignated fund$ Property Fund Mission Fund (Partl Fellowship Fund (Part) Other Designated Grfls (117,261) 3.703. 150 {90,484) 88,073 3,585.889 12.800 4.834 11,933 1&211 12.763 70 (900) 32.W8 (208.645) 3.791.223 3,615,456 General lunds General FUNJS 3, 785.797 SS7.236 {455.5418) (3. T91,223) 92,262 Total Unr•strlct•d funds 3,818.605 {664. 1931 3,707,718 Restrlctsd funds Hub Heart Ho Manse Fund Mission FurKI (Part> Felk)wsMp Fund (Part> Minibus Asset Fund Other Re511icted FU￿1$ 3,882ff24 213.031 20, 750 (1&).594) 3,914,461 20.750 5.287 41.571 13, 721 59,864 5.405 31.836 17.151 71, 714 (3,236) (17.8LX)J (3.430) (39,931) 27.535 28,331 (250) 4.CQ8. 130 292.515 1244.991) 4,055.654 Totsl of funds 7,K26, 735 845,821 (909, 184) 7, 763.372 P4e 38 GOLD HILL BAPTIST CHURCH (A Company Limit•d by Guarant•el NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 21. Summary of funds Summary of fvnds- current year Balance at 31 Ma￿h 2024 Baknce at 1 Aprfl 2023 Transle Inlout Income Exp•ndlluro Oesignaled fvnds General funds Restricted funds 3,615N56 92.262 4055.654 1178.0781 14811941 {286.8561 106.481 3.547.619 187.27S} 102.292 119,206) 4,572,851 579A99 823266 7.763,3n 1A06.42S {947,1281 8.222.669 Summary of funds - prlor year Bal8nce al 31 Ma￿h 2023 Transfers I 2022 Inwne EX￿￿rtU Designated funds General funds Réslitted funds (208.645) 3, 791.223 (45&548) (3, 791,223) (244.991) 3,615,456 92,262 4,055, 654 3.78&797 4.LTh. 130 553.236 292.515 7,826.735 844821 1909. 184) 7, 763.372 21 Anaty5is of net assets b•l¥vttn lunds Anatysls of n•t assgts bgtwoeD lunds-¢urrent period Unrestri¢ted Rèstrlctsd furrfls funds 2024 2024 Total funds 2024 Tangible fixed assets Fixed asset investmnls Current assets Creditors due ￿thin one year Creditors due in more than one 3.509,321 5.441,797 ,951,118 192.9C(I 152.4111 884.708 1.077.608 1638,000) {690.4111 11.115,647) 11,115.647} Total 3.649.811 4.572.858 8.222,669 Page 39 GOLD HILL BAPTIST CHURCH IA Company Llmlted by Guarantee) MOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 PAARCH 2024 21 Analysls ol net assets b•lween funds (conunued) Anal￿1$ of •s$•ts b•twe•n fufids. prior period Un￿strided Rest17cled funds 2023 Tol81 funds 2023 2023 Tangble fixed assets Fixed ass81 invoslmenls Current assets Creditors due wihin one year Creditors due in rrkire than one 3.595.684 5,55a981 9, 154,665 354.(T25 344,809 698,834 (241.992) (377, 114) (619, 106) {1.471,022J (1.47t,022J Total 3, 707.718 4,055,654 7, 763,372 23. Roconclliation of not rnov•rn•nl in lunds to net cash Ilow frorn operatlng actlvftles 2024 2023 Net incomelexpenditur8 for the Wkjd las per Statement of Financial Activities) 459,297 (63.363) Adjustments foi: DePr￿latIOn charges Dividends. inlerests and rents from investrr*rts Decrease in stocks Decreasellincreasel in debt￿S Increase in creditors 220,807 (8,6831 915 13,7981 5,354 219. 177 (93) 110 65.383 18.666 Net Cash pyovlded by operatlng actl¥ltl•s 673.892 239,880 Page 40 GOLD HILL BAPTIST CHURCH (A Company Limited by Guaranteel NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Analysls of ¢ash and ¢•sh equlval•nts 2024 2ff23 Cash in hwd NotKe deposits {less Ihan 3 mnths) 350,373 574,363 336.371 212,474 Totsl cash and cash wuival•nts 924,736 548, 845 25. Anatysls of ¢hang4s In net d•bt At 1 Awll 2023 Cash flo At 31 March 2024 Cash at bank and in hand Debt due wilhin 1 year Debt due after l year $48.845 {3TT.1141 11N71.0221 375,891 924,736 165,9SO) 1443,0641 355,375 11.115.647) (1.299.291} 665,316 1633,9751 Page41 GOLD HILL BAPTIST CHURCH {A Company Limit•d by Guarnnt•el NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 PAARCH 2024 Ponslon commltm•nts The Cornpany contributes to w)dividuafs mcKry purch8se pension schemes. The assets of the schemes aR held separolely from lh￿e of the c￿panY in indepèndently administered funds. The pension eo$l charge represents contributions parab￿ by the C￿npanY lo th& funds and anounted lo £18.74512023 - £22.7341. All pension expenditure is urwestri*. contriblrt￿ns t¢hling £253 12023 - £12) were payable to fuTrJ$ at the balartt $heel date an(1 are included in creditor& Opgratinglgase commftmonts At 31 March 2024 the compary commilff*nts to mae future minimum lease paymerts under non cancelable operating lease5 a5 fOlkh￿.. 2024 2ff23 Nol later than 1 y Later than 1 year and not later than S years 1.987 3,809 1.987 5,796 5.796 7,783 28. Members. Ilablllty Each member of the c￿l￿ble company undertaes to wrtribute to assets of the company in the event of rt being wound LP while hetshe is a member. or within one year after helshe ¢eases lo be a member, such amount as may be required. not exceediig £1 for the debts and liabilities contracted before helshe ¢eases lo be a member. P•3e 42 GOLD HILL BAPTIST CHURCH (A Company Limil•d by Guarant••) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Related party transxllo The Gold Hill Church Trust is a separate charity established in 1966 to advance the Christian Faith exercise Christian chanty by making grants to Gold Hill Baptst Church and ¢)thers. The Church can exeiose signifKanl influence over the appinlrnent of Trustees of the Trust but as part ol Ihe purpose of the Trust was to provKle a degfft of independence for the thsnors to Ihe Trust il ￿ nol Ihou9M appropriate lo consolidate the financial slatements of the Trust with those of the Church. In practice most giwng lo the Church is gNen via the Trust. received from the Trust during the year tolalled £1,092,000 {2023. £704.248}. Al the year end. there is £96.886 12023: £81,902) included within other debtots, being grfts gift due lo the Chur¢h. The Challonts Chrfstlan T￿￿t v& a separate charity eslablishe(l in 1985 to thano the Christian Faith. The Church can exercise signfficant infiuence ovw the appointment of Trustees. The Church would anlicipale benefitting from any future sale or development of kind by Ihe Trust. During the year thè Church pahl legal and other costs relating to the land owne¢l by the Trust of £3.59312023.. £3,392). Gold Hlll {Bread House} Llmlted is a separate company by the Ch*fonl$ Chrislran Trust which has ￿vioUSlY run a coffee sh(¥J in The Market Plaee, Chalfonl Sl Peter. The Church has previously ￿￿1 funds to Gold Hill (Bread knusel Limited to SUPE￿ the operation of the coffee shop. Al the year erKI a balance of £29,25012023'. £34.500) was due to the Church and included in other debtors. 30. Post balance shts•t èv•nts During the ye¥ on 8pp8al was to rai￿ fund5 to Iwlrtale the purchase ol a Manse. A suitabl8 propety has naw been idenlif*d and the purchase completed cffi 16th Awust 2024. An additional ban facility from the Baptist Unin of £440.01)O was airaryd in order lo complete this purchase. 31. Controlmng party The￿ is no conlroling paty. Page 43