REGISTERED CHARITY NUMBER.. 1149940 REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 FOR LLISWERRY BAPTIST CHURCH MHA Elfed House Oak T￿e Court Cardiff Gate 8LJsiness Park CARDIFF CF23 8RS LLISWERRY BAPTIST CHURCH CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Page Report of the Trustees Independent Examinerfs Report Statement of Financial Activities Balarsce Sheet NoteB to the Flnancial Staternents 7 to 15 LLISWERRY BAPTIST CHURCH REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023 The trustees present Iheir ￿POrt with the finanaal statements ol the ch8rity for the year ended 31 De¢emb¢r 2023. The Iruslees have adopted the provistons of Accounting and Reporting by Chaf*ties". Statement of Recommended Practice applicable to charitie5 preparing their accounts in accordance with the Financial Reporting Standard ap￿icable in thè UK 8fKI Republic of Ireland {FRS 1021 (effective 1 January 20191. OBJECTIVES AND ACTIVITIES Charitsble objects The principal purpose of the Church is the advancement of the Christian faith according to the principles ol the Baptist denomination. The Church may also ad¥anTr education ard carry out tsther charitable purposes in the United ￿"ngdoM 8ndlor oltr￿r p8rts of the world. Publi¢ benefit rhe Iwslees confirm that they have complied with the duty in Section 17 of Éhe Charilies Act 201110 have duo regard to public benefit guidance publ&shed by the Commission. Significant activities that we undertook during the year that emonslrale public benefit are sel out below. Significant activities, achievements and performance The primary activities of the Church are its Sunday worship seNces. Our Morning Servi￿ has continued to grow and we ale seeing 8round 80 people on a Sunday moming. By the end of the year we had discontinued our evening sèrvice due to low numbèrs. We are 8180 running a monthly Wednesday aftemoon servi￿, as this is a good lime lor older people in the community lo attend. Two people were baptised in September 2023 as well. Th& Tuasday nlghl prayer meeltng ¢onlinued Its be well attended via Zoom during the pandemic and o)ntinues to be run at the chLtrch and on Zoom as well. Messy Church has started again and been a great success with up lo 80 people attending on a monlhly basis. The toddler group on TuesrSays & Thursdays and wmmunity ¢offee-drop on Wednesday mornings have continued to thrive and a number of local folk cegularfy attend thi5. The church also iuns 8 monthly football session at 8 local leisure centre, weekty art and craft dasses and a warm hub on Mondays FrKlays. Since Ihe start ol the war in Ukraine, the chuFch has seen an increasing numbei of Ukrainians attending the fellowship. We have been able to help of these families and have been greatly blessed by having them amongst us lor 8 lime. We receive so much benefit from their Christian faith, their lively engagement, and from learning to apprerAate their culture. As well this we are seeing an increasing number ol Nigerian families a￿ coming as well. Furthermore. we have ran regular international meals for the community which have been attended by people from as many as len diffeient nationalities. The church has also been making use of technology with the crealitsn of our YouTLFbe channel with different vid*05 gf activities and messages involving many people connected to the church being created. The church is continuing lo work in the local primary school with assemblies. Grantmaking Details of grants are sel out within the notes to the financk?I statements. 11 is the church's poliry lo work extensively in schools and elsewhere in the community without making any charge. FINANCIAL REVIEW Investment policy and objectives In principle the trustees do nol intend to hold investments. Any cash. surplus lo immediate requirements, is held in a Bardays 10 day notice bank account. Page 1 LLISWERRY BAPTIST CHURCH REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023 FINANCIAL REVIEW Reseryes policy UnreSIr￿e￿ funds stsnd al £292.464 at 31 December 2023. After accounting for a number of designed lunds, the general fund stands at a balance of £15,147. It is intended lo keep a minimum general fund of about 1 month's expendituie in hand which wctuld equate to a maximum of approximately £7,000, therefore the trustees are satisfied with the cur¥ent position. The trustees have Sel up a Minislries fund designaled by Ihe trtsstees to support Christian outreach work in the local Lliswery area. The Ministries fund stood at £104,417 at 310ecember 2023. The capi181 fvnd equates lo lh¢ net book value of the freehold propety and fixtvres and filtiThJs, the balance stood al £172,900 at 31 December 2023. The level of reserve5 will be reviewed annualty and action considered by the trustees when the fund levels fall below an acceptable level FUTURE PLANS Currently we are consi(lering ways in which we build on our existing work with Tefijgees. In addilK)n lo this we are looking at further opportunities to work with the 8econdary schoo15. The church may 8180 explortr pos5ibilitses abo¢Jl employin9 other people tn Ihe future. depending on opportunities and resources. STRUCTURE. GOVERNANCE AND MANAGEMENT Governing document The ¢harity is controlled by its goveming document. a deed of trust and cmstitules an uninwrporaled charity. The tharity's constitution is based on the Approved Govemlng Do¢umenl of 8UG8 IBapb"$l Union of Great 8rttainl. Organisational structure The Pastor and Deacons ofthe Church a￿ its managing trL*Stee$. They meet on a monthly basis lo set poI￿Y and r¢vlew the activities of the church. Induction and training of new trustees All nevAy appointed trustees take part in an induction session to brief them on all aspects ol the organisation's work and their responsibilibes regarding governance. New member8 are fully integrated into the running of the organisation immediately on apFointmenl. Risk management The trustees have examined the major strategic, business and operational risks which the Church faces and confimi that systems have been established to monitor those risks so that the ne￿$Sary steps can be tsken lo lessen them. The church operates a Safeguarding policy for work with children and young people. Insuran￿5 are kept up lo dale, and the recommendations of insurers are followed. REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number 1149940 Principal addres$ Camperdown Road NEWPORT Newport NP19 OJF Page 2 LUSWERRY 8APTIST¢HIJftC*E REPORTOF THE TRUSTEES FOR THe YEAR E14DEO 31 DE¢EAI8ER 2023 Rev C Tutte IP851orl ktr D Pearson (Treèsurerl Mr R Webb fvlrs K Tuty N*5 R k4eak5 MF R Andwton Mrs P Mdenon klrs S Ha4 Mrs C Morgan MrJ 08v￿$ MFS J Roberts Cu¥todlan Trust•tr The Baptist unl￿ CoTporalè)n Lld Slatus The thurch registtted the Charity CoTryni5wn 27 November 2Ql2. The thurth is affiliated to il* Soulh Wales Baplisl AssOua￿jn Ind•p•Rd•nl Examiner J￿*3 klvrbmer FCCA MHAllrading namÈoflladntyre H￿l$on LLPI Luniled habthty partr*rship w¢ Erglafvj & Wale$ Regslered numbef OC312313 Elled House Tvee Cw Carthff Gate Buskness Pa CARDIFF CF23 eRS Bankers Naboaal Westyn￿51er Bpnk Stre NEWC¥IT NP20 IGG Apwoved by 0￿￿01 ihe 80ord ofTry&s¢eesoi........ .. arK1 $4ned w its beh¥fby.' D S C Peaison- Ttusiè8 P89e 3 INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF LLISWERRY BAPTIST CHURCH Independent examinerfs report to the trustees of Lliswerry Baptist Church l Teport to the charity trustees on my examination of the accounts ol Lliswerry Baptist Church Ilhe Trust) for the yeai ended 31 December 2023. Responslblllt5es and basls of ￿port As the charity trustees of the Trust you are responsible for the preparation of the aco)unls in accordance with the requirements of the Charities Act 2011 Cthe Act). I report in respect of my examination of the Trust's accounts carried out under Section 145 of the Ad and In carryl'ng out rny examination I have followed all applicable Directions given by the Charlty Commission undei Section 14515llbl of the Act. Independent examinerfs statement I have completed my examination. I confirm that no mater¢al matters have ujme to my attenb'on In conneditsn with the examination gwiro me cause to believe that in any material respect.. accounting records weie not kept in respect of the Trust as required by Sectson 130 of the Ad.. or the accounts do not accord wlh those records,. or the a￿OuntS do not comply with the applicable requirements concerning the fomi and content of ac¢tsunts set out in the Charities (Accounts and Reportsl Regulations 2008 other than any requirement that the a¢¢ounls give a true and fair view which is not a matter considered as part of an independent examination. I have no concems and have come across no other matters in connection with the examination to wh￿h attention shouk be drawn in thks report in order lo enable a proper understanding of the accounts to ￿ reached. Julia Mortimer FCCA MHA Ilrading name of macInty￿ Hudson LLPI Limited liability partnership in England & Wales Registered number OC312313 Elfed House Oak Tree Court Cardiff Gate Business Park CARDIFF CF23 8RS P$ge 4 LLISWERRY BAPTIST CHURCH STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2023 2023 Total funds 2022 Tol81 hjnds Unrestricted funds Restricted lunds Noles INCOME AND ENDOWMENTS FROM Donations and legacies 65,657 6.593 72,250 78.738 Investment income 20.318 20,318 16.491 Total 85.975 6,593 92,568 EXPENDITURE ON Charitsble activities Advancement of the Christian faith 96.030 7,728 103.756 NET INCOMEIIEXPENDITUREI 110,0551 11,1351 {11,190) 111,3781 RECONCILIATION OF FUNDS Total fvnds broughl forward 302,519 4,627 307.146 318,524 TOTAL FUNDS CARRIED FORWARD 292.464 3.492 295.956 307,146 The notes fom part of these fin8n¢ial statements Page 5 LL15WERRY BAPTIST CHURCH 8ALANCE SHEEY 31 DE¢EM8ER 2023 2023 Toial funds 2022 UnfestrKI fthds Resliicled fur*Js rolal lJtKIs Njles FIXEO ASSET8 Tangole asseL% 12 172, 172,900 177.950 CURRENT ASSETS 08biers Cash al bwk 13 8,276 8.216 116521 8.271 121217 f2t205 3.492 124.797 129,488 CREDITOR$ Artthrts I￿￿ngd￿e ￿￿Orye year 14 11.7411 12921 i*rcuRRENT ASSETS 119.564 123.056 129.196 TOTAL ASSETS IESS ClJItREIIT LIABILITIES 292,464 3.492 295.9$6 307.146 NÈfASSEfS 3.492 FLINDS iJire51rided Re5￿cted fLnds 15 292.464 3D2,519 4.627 TOTAL FUNDS 307.146 The f￿rtial $￿er￿e￿I% ￿[fr approved ty the Btsa￿ Df Tru51ees 8vll¥Jised h)r is9ue an .. and were strweden its behll by.. O S C pear￿￿. Trustee The notes tofm part of ￿8$￿ fioanoal slaiemenis Page 6 LLISWERRY BAPTIST CHURCH NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 STATIJTORY INFORMATION Lliswerry Baptist Church is a registered charity. registered in England and Wales. The goveming document is its conslituts'on and il is an unincorporated association. The principal add￿$S is Camperdown Road, Newport, NP19 OJF. The nature of the charity's operations and principal activities are disclosed within the Report ol the Trustees. The financial statements are presented in Slerfing (£1. Ihe charity's lunctional currency. and rounded to the nearest pound. The significant accounting policies aP￿led in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless othe￿iSe stated. ACCOUNTING POLICIES Ba51$ of preparing the financial ststements The financial statements of the ch8rily, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP {FRS 1021 'Accounting and Reporting by Charities.. Statement of Recommended Pracltce applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard 8ppli¢able in the UK and Republic of Ireland IFRS 1021 leffective 1 January 20191,. Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of lieland, and the Charities Act 2011. The financial statements have been prepared under the historlcal cost convention. The finanaal statements have been prepared lo give 8 'true and fairf view and have departed from Ihe Charities IAe¢ounls and Reports) Regulations 2008 onty lo the exttrnl lo provide a 'lrue 8nd fairf view. This departure has involved following the ArKounting and Reportifig by Charities.. Slalemenl of Rec(Mnmended Practice applicable lo ¢hÈrities preparing their accounts in accordance with the Financial Reporting Standard applicable In the UK and Reptsblic ol Iieland issued ITr O¢tober 2019 rathei than the Aceounling and Reporting by chaii14e$." Statement of Recommended Practice effective from 1 Ap¥il 2005 which has since been withdrawn. The finanual statements have baen prèparod under the historical cost convantion. Assels and liabilities are initially recognised at historical cost or transaclton values unless othe￿ise stated in the relevant accounting policy note{sl. There have been no mateiial departures from Finanaal Reporting Slandard 102. Going concern The trustees consider Ihat there are no material urrEriainties about the tharitls ability lo continue as a going concem and ihereflxe it is appropriate for the charity's financial slalements lo be prepared on a going concem basis. Income l income is recognised in the Statement of Financial Activities once the chaiily has entitlement to the frjnds. it 15 probable that the ir￿orne will be received and the amount can be measured reliably. Donations and legacies income includes donations and gitts that prOv￿e core fijnding or are of a general nature and are recognised where there is entitlement, probabilty of re￿ipt and the arnounl can be measured bwlh sufficient reliatility. Such income is only deferred when the donor specifies it musl be used in future accounting periods or the donor has imposed conditions whrch must be rnet before Ihe charity has unconditional enlillement. Income from charitable activities indudes income receNed under contrad or where enlillemenl to grant funding is subject to speafic perfomiance conditFons. This income is recognised as the related services are provided and there is enlidement, probability of r￿lpt and the amount can be measured with sufficient reliability. Income is deferred when the amounts received are in advance of the perfomiance of the servi¢¢ or event lo which they relate. Investment income is recognised on a receNable basis. Page 7 contrnued... LUSWERRY BAPTIST CHURCH NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 DECEMBER 2023 ACCOUNTING POLICIES. continued Expenditure Liabilities are recognised as expenditure as soon as there is a legal or constructNe obligation committing Ihe charity to that expenditure, it Is probable that a transfer of econotni¢ bonefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accountèd for on an acciuals basis and has been classffied under twdings that aggregate all cost related to the ¢ateg0ry. Vlhere costs ¢annot be directly attributed to particular headings they have been allocated to activities on a basis ¢on$istenl with tho use of resource5. Expendrfure Tncludes VAT which is reported as part of ihe expenditUTe to which it relates, as the charity is not VAT registered. Charitsble expenditure comprises those costs incurre(J by the charity in the ¢Jelivery of its aCt￿rt¢es and 5ervir2s for tts beneficiaries. 11 indudes both costs that can be allocated directly to such a¢tivities and those Costs of an indirect nature ne￿$Sary lo support Ihern. Support costs are those costs that, whilsl necessary to deliver an activity, do not themselves produce or conslilule the output of the charitable activity. This includes g0Veman￿ costs which are those costs a5SOClated with meeting th¢ ¢onstitulional and slalvlory requirements of the charity and include the accountancy lee$ and e051s linked lo the strategic management of the charity. Grants offerèd subject lo conditions which have not been met at the year end dale are noted as a commitment but not 8crJued as expenditure. Tangrble fixed assets Depreciation is provided al tho following annual rates in orderto write off each assel over ils estimated ¢Jseftsl life. Freehold property 2% & 10% on cost Fixed assets are stated at cost {or deemed costl less a¢cumvlated depreciation. Fixed assets costing over £1,0(Kl are capitalised. Taxation The charity is exempt from tax on its charitable act¢vities. Fund accounting VnrestThcted funds can be used in accordance with the tharrtable oblec￿"¥eS at the discretion of the trustees. Designated fvnds are general funds set aside by the church for a specific fvture purpose. Restricted funds can only be used for particular restricted purposes vAthin the objects ol the charity. Restrictions arise when specified by the donor or when fvnds are raised for partiojlar restricted purposes. Further explanation of the nature and purpose ol each fund is induded in the notes to the f￿an￿al statements. Pension costs and other post.retirement benefits Pension provision Is being made Ihrough a Oefined Contribution Plan wthin the Baptisl Pension Schème. In general, members pay 8% of their Pensionable Income and ern￿oYerS pay 6% of members, Pensionable Income into individual pension accoLtnts, which are operated and managed on behalf ol the Pension Trustee by Legal and General Life Assuran￿ Society Limited. In addition, the employer pays a lurther 4°A of Pensionablo In￿m$ lo cover Death in Service Benefits. administration costs. and an associated insurance policy which provides income protection for Scheme members in the event that they a￿ unable to work due to long-tem incapacity. Flnancial instruments The charity only has finanaal assets and financial liabilities of a kind that qualify as basic finanoal inslrurnents. Basic financial instruments are initially iecognised at transaction value and subsequently measured al their settlement value. Page 8 ¢ontinued... LLISWERRY BAPTIST CHURCH NOTES TO THE FINANCIAL STATEMENTS - ¢¢￿tinUed FOR THE YEAR ENDED 31 DECEMBER 2023 ACCOUNTING POLICIES- continued Dèbto Trade debtors and other debtors are ￿cogniSed at the setuement amount due and prepayments are valued at the amount prepaid. Credltors Creditois are reco9n*s8d where the char¢ly has a present obligalion resLilting from a past event that will probably Yesutt In the Ir8nsfer of funds to a third party and the amount due tts settle the obligation be measured or estimated rel13￿y. Creditors ale norm￿lY recognised at Iheir settlement amount after allomng lor any trade discounts due. Significant accounting judgements and estimates Estimates and judgements a￿ continually evaluated and are based on historical experienee and other relevant faclors, including expeclalions of future events that ale believed to be reasonable under Iho Circvmstsnces. The preparation ol thè financi81 slalements requires management to make esbmates and assumptions concerning the future. Thè resulting accounting estimates will, by definition, be likely to differ from the related actual results. No estimates or 8$5umplions have been identified that have signffjunt risk of causing rn8ler*al adjustment to the carrying amounts of 8$$els and l¢abilities within the next financial year. DONATIONS AND LEGACIES 2023 2022 Regular offerings Mission and other giving Inci)me tax recoverable 48,482 12,765 51,260 15,138 12,340 72,250 78,738 INVESTMENT INCOME 2023 2022 Rents received Bank snlerest re¢eivable 19,178 1.140 16,361 130 20,318 16,491 CHARITABLE ACTIWTIES COSTS Grant funding of aCtiV￿.￿S Is66 note 71 Direct Costs (see note 6} Support cost515ee note 81 Totals Advancernenl ollhe Christian faith 92,750 10,048 960 103.758 Page 9 Continued... LLISWERRY BAPTIST CHURCH NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 DECEMBER 2023 DIRECT COSTS OF CHARITABLE ACTIMTIES 2023 2022 Staff costs Utilities Maintenance and building works Books and training materials Xalt- Youth work costs Toddler group Olher expenditure for charitable activitles General office costs Discretiollary gffts Ukraine fund Depreciation 36,600 20,667 16,201 320 336 2,047 2,165 4,019 37,429 17,540 26,091 963 336 55 1.913 220 250 4,857 5,050 5,345 5,050 92,750 94,704 GRANTS PAYABLE 2023 2022 Advancement of the Christian faith 10,048 10.943 Breakdown of grants payable is as foljows.. 2023 2022 Baptist Missionary Society Baptist Unson Mission Onè Mission - C8s1ros Open Doors Out ofAshes Po18nd ICE Wales Other grants- < £1.000 ea¢h 3,181 2,533 600 soo 3,756 600 1,000 1,000 2.234 2,579 10,048 10.943 SUPPORT COSTS Governan¢e costs Advancement of thè ChrTrstian faith 960 Govemance costs include £960 {2022- £9601 in relation to the independent examination lees. TRUSTEES. REMUNERATION AND BENEFITS C Tutte, a Irustè8, was r8rnuneraled in his capaaty as a rninisler of the church, as detailed in the staff costs note which follows. There We￿ no other trustees. remuneration or other benefits for the year ended 31 December 2023 or foi the year ende