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REGISTERED COMPANY NUMBER: 09388657 (England and Wales)
REGISTERED CHARITY NUMBER: 1160363
Report of the Trustees and
Financial Statements
for the Year Ended 31 March 2024
for
THORNBURY BAPTIST CHURCH
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THORNBURY BAPTIST CHURCH
Contents of the Financial Statements FOR THE YEAR ENDED 31 MARCH 2024
Page
Report of the Trustees
Report of the Independent Auditors
Statement of Financial Activities
Balance Sheet
Cash Flow Statement
Notes to the Cash Flow Statement
Notes to the Financial Statements
Detailed Statement of Financial Activities
1 to 6
7 to 10
11
12
13
14
15 to 27
28 to 29
THORNBURY BAPTIST CHURCH
Report of the Trustees FOR THE YEAR ENDED 31 MARCH 2024
The Trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2024. The Trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective | January 2019). OBJECTIVES AND ACTIVITIES Objectives and aims The objective of the church is to proclaim the gospel of Jesus Christ in the local area and throughout the world. This is summed up in the church mission statement which is as follows: ‘Following the way of Jesus, by loving God, one another and the world.' Significant activities During the past year the church has sought to express that objective by seeking to help, bless and benefit our local, national and international community links. Some of the very many activities which have been undertaken are set out in the "charitable activities" section below, and it is considered that they are all for the public benefit. Public benefit The Trustees have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing our aims and objectives and in planning our current and future activities. Ministry During the year the church's activities were made possible by the many members of the Thornbury Baptist Church family who used their time and gifts to serve the vision and life of the community. The church Trustees and the elders would like to take this opportunity to say how grateful we are to be in a place where so many people have been gifted to serve in so many different ways.
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THORNBURY BAPTIST CHURCH
Report of the Trustees FOR THE YEAR ENDED 31 MARCH 2024
ACHIEVEMENT AND PERFORMANCE Charitable activities
During the last year the church has been actively developing its local community, national and international links.
Worshipping Congregation
The church holds weekly meetings for Christian worship on Sunday mornings all of which are open to the community. Around 250 - 300 people of all ages attend these meetings on an average Sunday. The church has grown steadily in this period and in response a new Early Church service was piloted to expand capacity. The service is live streamed and the recording posted via our website, Facebook and YouTube channel, enabling those unable to attend the service to take part, with the YouTube channel alone logging in the region of 100 - 250 views each week. Sunday discipleship groups run for children and youth of Christian families. We aim to be a welcoming church for those interested in finding out more about faith. One option for those who want to know more is to join join one of our our regularly held 'Alpha' courses which are a good introduction to the Christian faith.
We aim to be a welcoming church for those interested in finding out more about faith. One option for those who to know more is to join join one of our our regularly held 'Alpha' courses which are a good introduction to the Christian Several people have attended such a course over the past year.
About 60% of the church meet in small groups throughout the week.
Through the church's Care Fund, we have been able to support individuals and families who are in urgent need.
A small but flourishing Ukrainian language church meets on a Sunday afternoon, serving the needs of our Ukrainian ex-pat congregation under the leadership of a Ukrainian Baptist pastor.
Local Community Local community activities include the local Food Bank (in partnership with other local churches); provision of debt advice support and counselling; a thriving soft play cafe three mornings per week for parents/carers and their babies and toddlers; and the 'Two by Two' toddler groups, which meet on the other two mornings a week.
The weekly seniors' lunch club and monthly seniors' Afternoon Tea events are very popular, with older folks from local community and the church.
the
Youth provision includes a weekly open access youth clubs of age 11-14 and 15-18.
The church premises are available and have been used by other community groups throughout the year.
Regional and national Thornbury Baptist Church have links with a number of mission partners, offering support variously through practical involvement, or financial assistance.
prayer,
Locally we have continued to develop such links with Beloved in Bristol, supporting sex workers in leaving this work; the Willow Tree Centre, supporting those who have suffered baby-loss; the Julian Trust, providing food and beds for homeless people.
for
Oasis, our assisted living home, continues to provide a supportive home for homeless men.
Nationally we have continued our links with a couple working on a deprived estate in Hull and with LZ7 music-based youth outreach based in Manchester.
a
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THORNBURY BAPTIST CHURCH Report of the Trustees FOR THE YEAR ENDED 31 MARCH 2024
Overseas
Our international links include, support for the training of students through the YWAM Malaysia organisation; an outreach to local children and the Roma community in Bulgaria; support for a local church's outreach amongst poor communities in Romania; the provision of training and literature for ELAM, working with Iranian people; the support of a Prison Outreach ministry in Eastern Europe, through Transform Europe Network; the provision of education and social programmes in Africa and India, through CRED; the support of Christian outreach to Jewish people, through Jews for Jesus; the support of Christian satellite broadcasting, through SAT-7; and social programmes amongst some of the poorest communities in India, through the Bridge Trust. Our sponsorship of children in Colombia, through Calikids, came to an end in August 2023. All of our mission activity is overseen by our Mission Focus Group who provide a first line of support and accountability. FINANCIAL REVIEW Financial position The financial position of the church is satisfactory. During the year under review, the total income was £1,131,880 (2023 - £478,558) of which £712,648 (2023 - £6,237) was received specifically for the building project and treated as a restricted fund (Building Fund). There was net expenditure, after transfers, of £7,734 (2023 - net income of £1,672) on unrestricted funds and net income of £710,429 (2023 - £46,264) on restricted funds during the year of which £712,648 (2023 - £53,756) related to the Building Fund.
Reserves policy The Trustees aim to maintain free reserves in unrestricted funds at a level which equates to approximately months of unrestricted charitable expenditure being £68,228 (2023 - £63,273).
three -
At the year end, there were free reserves of £177,413 (2023 - £179,698), designated reserves of £26,705 (2023 - £32,154) and restricted funds of £832,040 (2023 - £121,611). The Trustees consider that they should review both the current policy of holding just 3 months of normal expenditure and whether it would be appropriate to take any action to reduce the level of free reserves going forward. Going concern The Trustees consider that the charity will will continue as a going concern for a period of at at least 12 months from the date on which these financial statements are approved as the charity holds holds sufficient reserves. The Trustees therefore consider it appropriate to adopt the going concern basis of preparation of the accounts, as detailed in note 1 to the financial statements. FUTURE PLANS Our church aims are to continue to be used by God to show His love to our community where we live and share the good news of His gospel in all we do. We expect that most of the work mentioned above will continue and develop. In addition, in the coming period we anticipate: ¢ The completion of the the repair and redevelopment work on the building, which had been showing signs of its its age, by February 2025. This work includes a two storey extension to the rear to provide additional meeting room and a side
Going concern The Trustees consider that the charity will will continue as a going concern for a period of at at least 12 months from the date on which these financial statements are approved as the charity holds holds sufficient reserves.
¢ The completion of the the repair and redevelopment work on the building, which had been showing signs of its its age, by February 2025. This work includes a two storey extension to the rear to provide additional meeting room and a side chapel.
¢ Developing a wider group of younger leaders. STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document The charity is controlled by its governing document, its Articles of Association, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
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THORNBURY BAPTIST CHURCH Report of the Trustees FOR THE YEAR ENDED 31 MARCH 2024
STRUCTURE, GOVERNANCE AND MANAGEMENT Recruitment and appointment of new trustees The charity will look for new trustees as required. Such persons will need to be eligible to serve in accordance with the Articles of Association.
Organisational structure Leadership The spiritual oversight of the church, and the week-to-week management of the church is provided by a group of elders, affirmed by the congregation. The elders meet weekly, and liaise regularly with the Trustees, an elder always being present at a Trustees meeting to establish clear communication between the two groups.
The elders also meet monthly with the wider church 'Ministry Team Leaders' group as a wider leadership team for the sharing and discussion of ideas about the development of the church's vision.
Those who served as elders in the year under review were;
Paul Ferguson (Community Pastor - employed)
David Lawrence (Teaching Pastor - employed, stepped down as elder April 2023) Sally Heath David Ling Peter Hunter Heather Staley (stepped down as elder Oct 2023) Chris Beddoes Rachael Beddoes
Staff Team Throughout this period the church were also served by a paid staff team as follows: Community Pastor (F/T); Teaching Pastor (P/T); Youth Team Leader (P/T); Youth Worker (P/T until September 2023) Youth Worker/Young Adults Worker (P/T from October 2023); Pioneer Families Worker (F/T); Children's Worker (P/T) ; Oasis House Manager (P/T) Church Centre Manager (F/T) Events Manager (P/T); Caretaker (P/T); Cleaner (P/T).
The staff team oversee teams of volunteers without whom many of the church's activities could not run.
Family Forum The Family Forum is a meeting of members of the church community. At such meetings, the members together seek to understand God's plans and purposes for this church. We also review the activities of the church over the last quarter including mission and youth work and are given information on the finances of the church. The decision to appoint pastors and elders is also made by the family forum.
Related parties
None of the Trustees receive remuneration or other benefit for their work with the charity.
Risk management The Trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.
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THORNBURY BAPTIST CHURCH
Report of the Trustees FOR THE YEAR ENDED 31 MARCH 2024
REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number 09388657 (England and Wales)
Registered Charity number 1160363
Registered office Thornbury Baptist Church Centre Gillingstool Thornbury Bristol BS35 2EG
Trustees D Tubb T P Wicks A E Dukes D J Baker-Falkner
The trustees are also directors for the purposes of Company law.
Auditors Haines Watts (Western) Limited Chartered Accountants and Statutory Auditors Bath House 6 - 8 Bath Street Bristol BS1 6HL
Bankers National Westminster Bank Plc 250 Bishopsgate London EC2M 4AA
Web address www.thornburybaptistchurch.org.uk
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THORNBURY BAPTIST CHURCH
Report of the Trustees
FOR THE YEAR Ef4DED 31 MARCH 2024
STATEMENT OF TRUSTEES, RKSPONSIBILITIES
The Trustees (who are also director5 of Thornbury Baptisi Church for the purposes of company law) are responsibl¢
for pr¢paring th¢ Trusl¢¢s' Annual Report and the financial statements in accordance with applicable law and Unit
Kingdom Accounting Standards (United Kingdom GenerBlly A¢cept¢d Accounting Pracii¢¢) including Financial
Reporting Standard 102 "The Financial Reporting Standard applicable in Ihe UK and the Republic of Ircland"
coMnY law requires the TTusiees lo prepare financial statements for each financial year. Under company law th¢
Irusl¢¢s must not approv¢ ihe fin#n¢ial staiements unless they are satisfied ihor they give a true and fair view of the
st&te of affair5 of the chariiy and of the incoming resources and applicaiion of resources, in¢luding the income and
¢xpenditur¢. of the charity for ihat period. In preporing these financial stai¢ments. the trustees arc r¢quired io..
select suitable accounting policies and then apply them consislcntly.
observe the methods and prin¢iples in the Charilies SORP 2019 (FRS 102).
m&ke jud8¢ments and ¢sttmales thot are reasonable and PTudenl;
slate whether appli¢able UK Accounting Standardi> hav¢ been followed subject to any material
diKlosed ¥4nd explained in the finan¢ial slatem¢nts' and
prepare the finhn¢i81 statements on the going concern bAsis unless it is inapproprialc to presum¢ that the charity
will coniinue in operf¢tion.
departures
The Irust¢es are responsible for keeping adequate a¢¢ouniing records that disclose with reasonablc 4¢¢ur8Cy Ut any
lime the financi&l position of the charity and enable them lo enbur¢ that the financial $tal¢ment5 comply wilh the
Companies Act 2006. They ar¢ also responsible for safeguardin8 rhe assets of th¢ chariiy and henc¢ for taking
rcasonablc steps for the prevention and detection of fraud and other irregularities.
In so for as the Tru8tees are aware:
thcrc is no relevant audit informalii)n of which thc charitls ouditors are unaware; and
thc Trusttts hAv¢ taken all steps that they ought to have taken to make thcms¢lv¢s aware of any relevant audit
information and to csimblish that the auditors are aware of that infomiation.
AUDITORS
The audiiors, Hiines Watis (W¢3tern) Limited, will be proposed for rtrappoinlmenl at th¢ forthcoming Annual
Generil Meeting.
This report has been prepared in ac¢ord&n¢¢ with the special provisions of P4rt 15 of th¢ Companies Act 2006 relatin8
to small ¢oinpanies.
Approved by order of ihe board of trustees on .
74nd Signed on lis behalf by..
IP(0
T P Wicks - Trustee
Page 6
Report of the Independent Auditors to the Members of Thornbury Baptist Church
Opinion
We have audited the financial statements of Thornbury Baptist Church (the 'charitable company') for the year ended 31 March 2024 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements: - give a true and fair view of the state of the charitable company's affairs as at 31 March 2024 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended; - have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and - have been prepared in accordance with the requirements of the Companies Act 2006.
Basis for opinion We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.
Other information The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon.
Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.
Opinions on other matters In our opinion, based on the work undertaken in the course of the audit: - the information given in the Report of the Trustees for the financial year for which the financial statements prepared is consistent with the financial statements; and - the Report of the Trustees has been prepared in accordance with applicable legal requirements.
are
Page 7
Report of the Independent Auditors to the Members of Thornbury Baptist Church
Matters on which we are required to report by exception In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Trustees.
We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion: - adequate accounting records have not been kept or returns adequate for our audit have not been received from branches not visited by us; or - the financial statements are not in agreement with the accounting records and returns; or - certain disclosures of trustees' remuneration specified by law are not made; or - we have not received all the information and explanations we require for our audit; or - the trustees were not entitled to take advantage of the small companies exemption from the requirement to prepare a Strategic Report or in preparing the Report of the Trustees.
Responsibilities of trustees
As explained more fully in the Statement of Trustees' Responsibilities, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.
Page 8
Report of the Independent Auditors to the Members of Thornbury Baptist Church
Our responsibilities for the audit of the financial statements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: We obtained an understanding of the legal and regulatory frameworks applicable to the charitable company and _ the sector in which it operates. We determined that the following laws and regulations were most significant: The Companies Act 2006, UK GAAP, The Charities Act 2011 and the Charities SORP. We obtained an understanding of how the charitable company is complying with those legal and regulatory frameworks and made enquiries to the management of known or suspected instances of fraud and non-compliance with laws and regulations. We corroborated our enquiries through our review of board minutes, other relevant meeting minutes and review of correspondence with regulatory bodies.
We assessed the susceptibility of the charitable company’s financial statements to material misstatement, including how fraud might occur. Audit procedures performed by the audit team included:
¢ Identifying and assessing the controls management has in place to prevent and detect fraud; ¢ Understanding how those charged with governance considered and addressed the potential for override of controls or other inappropriate influence over the financial reporting process; ¢ Challenging assumptions and judgments made by management in its significant accounting estimates and judgments;
or
¢ Identifying and testing journal entries, in particular journal entries posted with unusual account combinations; and ¢ Assessing the extent of compliance with the relevant laws and regulations. Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation. A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors. Other matters which we are required to address The financial statements for the year ended 31 March 2024 are the first financial statements not to qualify for an audit exemption. As a result, the comparative figures presented for the year ended 31 March 2023 are unaudited. We have gained sufficient audit evidence in respect of the opening balance sheet position as at 1 April 2023 and consequently our audit opinion in respect of the year ended 31 March 2024 is not modified in this regard.
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Report of the Independent Auditors to the Members of Thornbury Baptist Church
Use of our report This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditors! report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed.
## Aor.
Andrew Jordan FCA (Senior Statutory Auditor) for and on behalf of Haines Watts (Western) Limited Chartered Accountants and Statutory Auditors Bath House 6 - 8 Bath Street Bristol
BS1 6HL
24 December 2024
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THORNBURY BAPTIST CHURCH
Statement of Financial Activities
(Incorporating an Income and Expenditure Account) FOR THE YEAR ENDED 31 MARCH 2024
2024 2023 Unrestricted Restricted Total Total funds funds funds funds Notes £ £ £ £ INCOME AND ENDOWMENTS FROM Donations and legacies 2 337,003 732,927 1,069,930 423,449 Charitable activities 4 Ministry 9,462 34,541 44,003 48,613 Youth work 2,328 - 2,328 2,768 Book centre and coffee lounge 3,606 - 3,606 2,354 Investment income 3 2,000 10,013 12,013 1,374 Total 354,399 777,481 1,131,880 478,558 EXPENDITURE ON Charitable activities 5 Ministry 157,139 57,626 214,765 202,631 Mission 140,088 11,132 151,220 161,901 Youth work 55,147 - 55,147 52,357 Book centre and coffee lounge 8,053 - 8,053 6,092 Building project - - - 7,641 Total 360,427 68,758 429,185 430,622 NET INCOME/(EXPENDITURE) (6,028) 708,723 702,695 47,936 Transfers between funds 18 (1,707) 1,707 - - Net movement in funds (7,735) 710,430 702,695 47,936 RECONCILIATION OF FUNDS Total funds brought forward 211,852 121,611 333,463 285,527 TOTAL FUNDS CARRIED FORWARD 204,117 832,041 1,036,158 333,463
INCOME AND ENDOWMENTS FROM Donations and legacies
The notes form part of these financial statements
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THORNBURY BApfisT CHURCH (REGISTERED NUMBER: 09388657)
Balance Sheet
31 MARCH 2024
2024
Tot¥1
funds
2023
Total
funds
Unrestr1ed
funds
R¢slricted
fid5
Notes
FIXED ASSETS
TAn8ibl¢ As$¢ts
13
72.077
72.077
CURRENT ASSETS
Stocks
Debtors
Cash at bank
14
15
310
62,426
153,617
310
114,761
861,246
310
64.881
274,780
52.335
707.629
216J53
759.964
976,317
339.971
CREDITORS
Amount5 fallin8 due within one year
16
{12,236)
(12.236)
(6,508)
NET CURRENT ASSETS
204,117
759,964
964,081
333,463
TOTAL ASSETS LESS CURRENT
LIABILITIES
204.117
832,041
.036.158
333,463
NET ASSETS
204,117
832,041
,036.158
333,463
FUNDS
Unreslrictcd funds
Resiri¢(cd funds
18
204,117
832,041
211,852
121,611
TOTAL FUNDS
1,036,158
333,463
These financial statenients have been pr¢pared in aceordan¢e with the provi510n5 applicable to charitable companie8
stsbject io the 8m&ll companie5 re8im¢.
The finoncial statemcnts were approved by the Boord of Trustees and AuthoTised for issue
..20...1. Lw..Iw and were signed on its behalf ty.
T P Wicks- Trust¢¢
The note5 form part of these financial slat¢ment5
Page 12
THORNBURY BAPTIST CHURCH
Cash Flow Statement FOR THE YEAR ENDED 31 MARCH 2024
|||2024|2023|
|---|---|---|---|
||Notes|£|£|
|Cash flows from operating activities||||
|Cash generated from operations|1|646,530|36,334|
|Net cash provided by operating activities||646,530|36,334|
|Cash flows from investing activities||||
|Purchase oftangible fixed assets||(72,077)|-|
|Interest received||12,013|1,374|
|Net cash (used in)/provided by investing activities||(60,064)|1,374|
|||||
|Change in cash and cash equivalents in||||
|the reporting period||586,466|37,708|
|Cash and cash equivalents at the||||
|beginning ofthe reporting period||274,780|237,072|
|Cash and cash equivalents at the end of||||
|thereportingperiod||861,246|274,780|
The notes form part of these financial statements
Page 13
THORNBURY BAPTIST CHURCH
Notes to the Cash Flow Statement FOR THE YEAR ENDED 31 MARCH 2024
1. RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES 2024 2023 £ £ Net income for the reporting period (as per the Statement of Financial Activities) 702,695 47,936 Adjustments for: Interest received (12,013) (1,374) Increase in debtors (49,880) (12,192) Increase in creditors 5,728 1,964 Net cash provided by operations 646,530 36,334
2. ANALYSIS OF CHANGES IN NET FUNDS
Net cash Cash at bank Total
At 1.4.23 Cash flow At 31.3.24 £ £ £ 274,780 586,466 861,246 274,780 586,466 861,246 274,780 586,466 861,246
The notes form part of these financial statements
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THORNBURY BAPTIST CHURCH
Notes to the Financial Statements FOR THE YEAR ENDED 31 MARCH 2024
1. ACCOUNTING POLICIES
Basis of preparing the financial statements The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. The financial statements are prepared in sterling which is the functional currency of the charity and are rounded to the nearest £.
The financial statements have been prepared on a going concern basis . The Trustees consider that the charity has sufficient cash reserves to continue as a going concern for a period of at least 12 months from the date on which these financial statements are approved. The comparative figures for the year ended 31 March 2023 are unaudited. Critical accounting judgements judgements and key sources of estimation estimation uncertainty In the application of the the charity's accounting policies, the Trustees are required to make judgements, judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that
Critical accounting judgements judgements and key sources of estimation estimation uncertainty In the application of the the charity's accounting policies, the Trustees are required to make judgements, judgements, and assumptions about the carrying values of assets and liabilities that are not readily apparent from sources. The estimates and underlying assumptions are based on historical experience and other factors are considered to be relevant. Actual results may differ from these estimates.
Estimates include, accrued income of £25,000 related to legacy income which are recognised in accordance with the Charity SORP. Income All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. Offerings are recognised on receipt. Grants and legacies to the charity are accounted for as soon as the charity is notified of its legal entitlement and the amount due. Procedures are in place to ensure the completeness of income. Income tax recoverable on gift aid donations is recognised on an accruals basis at the same time as the original donation. 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 a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.
Page 15
continued...
THORNBURY BAPTIST CHURCH
Notes to the Financial Statements - continued FOR THE YEAR ENDED 31 MARCH 2024
1. ACCOUNTING POLICIES - continued
Tangible fixed assets The church land and buildings at Gillingstool, Thornbury are excluded from the financial statements on basis they are held by a separate excepted charity. Improvements to the building have been capitalised, currently in progress and have been included in fixed assets. All fixed assets are initially recorded at cost. The cost of construction of the improvements has capitalised.
the are
been
As permitted by the Statement of Recommended of Practice, no provision for depreciation has been made improvements as it is currently under construction.
for
Other fixed assets are included at original cost and are depreciated on a straight line basis as follows: Plant and equipment 25%
Stocks Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete slow moving items.
and
Taxation
The charity is exempt from corporation tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
Pension costs and other post-retirement benefits
The charity operates a defined contribution pension scheme. Contributions payable to the charity's pension scheme are charged to the Statement of Financial Activities in the period to which they relate. Volunteers and donated goods and services The value of services provided by volunteers is not incorporated into these financial statements. Where goods or services are provided to the charity as a donation that would normally be purchased from suppliers, these contributions are included in the financial statements as an estimate based on the value of the contribution. Goods donated and held for distribution are not recognised in the financial statements as they are considered to be held on behalf of North Bristol Foodbank. Cash and short term investments Cash at bank is held to meet short-term cash commitments as they fall due rather than for investment purposes and includes all cash equivalents held in the form of short-term highly liquid investments. Cash equivalents are short-term, highly liquid investments that are readily convertible to known amounts of cash and that are subject to an insignificant risk of changes in value.
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THORNBURY BAPTIST CHURCH
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Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 MARCH 2024
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2. DONATIONS AND LEGACIES
2024 2023
£ £
Donations and offerings 784,893 359,190
Income tax recoverable 168,937 64,259
Legacies 25,000 -
Grants 91,100 -
1,069,930 423,449
Grants received, included in the above, are as follows:
2024 2023
£ £
Benefact Trust 91,100 -
DONATED GOODS, SERVICES AND FACILITIES
During the year the church has benefitted from numerous services provided by volunteers covering areas such
as children's and youth work, Luncheon Club, Book Centre and all areas of ministry. Further services have
been provided in the form of assistance with maintenance, finance and administration. In accordance with the
Statement of Recommended Practice, no amounts are included in the accounts for the services donated by
volunteers.
3. INVESTMENT INCOME
2024 2023
£ £
Deposit account interest 12,013 1,374
4, INCOME FROM CHARITABLE ACTIVITIES
2024 2023
Activity £ £
Youth events Ministry 6,719 1,732
Rent Ministry 34,541 45,137
Other events Ministry 2,743 1,744
Youth events Youth work 2,328 2,768
Bookstall and coffee lounge Book centre and coffee lounge 3,606 2,354
49,937 53,735
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THORNBURY BAPTIST CHURCH
Notes to the Financial Statements - continued FOR THE YEAR ENDED 31 MARCH 2024
5. CHARITABLE ACTIVITIES COSTS Grant funding of Direct activities Support Costs (see (see note costs (see note 6) 7) note 8) Totals £ £ £ £ Ministry 193,391 - 21,374 214,765 Mission 43,852 85,995 21,373 151,220 Youth work 33,772 - 21,375 55,147 Book centre and coffee lounge 8,053 - - 8,053 279,068 85,995 64,122 429,185 6. DIRECT COSTS OF CHARITABLE ACTIVITIES 2024 2023 £ £ Staff costs 202,973 203,732 Ministry 6,204 4,056 Books, cards and supplies 4,273 2,122 Conferences and training 1,812 2,662 Events and activities 8,663 7,763 Foodbank 22,203 14,128 Oasis costs 32,940 39,749 Building project - 7,641 279,068 281,853 7. GRANTS PAYABLE 2024 2023 £ £ Mission 85,995 103,758 The total grants paid to institutions during the year was as follows: 2024 2023 £ £ Fundacion Amigos y Hermanos, Cali, Columbia - child sponsorship 7,756 12,593 CRED Foundation 1,550 8,052 YWAM- Malaysia 1,993 2,917 ELAM Ministries 1,360 1,200 TEN Eurovangelism 4,906 17,379 The Bridge Trust 2,250 2,800 Beloved 2,300 1,200 SAT-7 UK 2,150 2,800 Inhope - 1,706 Other - 2,488 24,265 53,135
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Notes to the Financial Statements - continued FOR THE YEAR ENDED 31 MARCH 2024
7.
GRANTS PAYABLE- continued
Grants of £61,730 were payable to individuals during the year (2023 - £50,623). 8. SUPPORT COSTS
General back office Governance Finance Premises costs costs Totals £ £ £ £ £ Ministry 696 14,116 3,942 2,620 21,374 Mission 694 14,118 3,941 2,620 21,373 Youth work 695 14,119 3,941 2,620 21,375 2,085 42,353 11,824 7,860 64,122
9. AUDITORS' REMUNERATION Amounts payable to the auditors for audit and accounting services were £4,950 (2023 - £1,320 Independent Examination fee) and £1,600 (2023 - £1,860) respectively. 10. TRUSTEES' REMUNERATION AND BENEFITS There were no Trustees' remuneration or other benefits for the year ended 31 March 2024 nor for the year ended 31 March 2023. Trustees’ expenses There were no Trustees' expenses paid for the year ended 31 March 2024 nor for the year ended 31 March 2023. 11. STAFF COSTS 2024 2023 £ £ Wages and salaries 185,424 187,825 Social security costs 8,457 9,095 Other pension costs 9,092 6,812 202,973 203,732 The average monthly number of employees during the year was as follows: 2024 2023 Average number of staff 11 11
No employee emoluments of more than £60,000 (2023: No employees).
The Trustees are considered key management personnel. No remuneration was paid to the Trustees in the current year or the prior year.
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THORNBURY BAPTIST CHURCH
Notes to the Financial Statements - continued FOR THE YEAR ENDED 31 MARCH 2024
12. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted Restricted Total funds funds funds £ £ £ INCOME AND ENDOWMENTS FROM Donations and legacies 305,731 117,718 423,449 Charitable activities Ministry 5,044 43,569 48,613 Youth work 2,768 - 2,768 Book centre and coffee lounge 2,354 - 2,354 Investment income 1,374 - 1,374 Total 317,271 161,287 478,558 EXPENDITURE ON Charitable activities Ministry 147,586 55,045 202,631 Mission 118,054 43,847 161,901 Youth work 52,357 - 52,357 Book centre and coffee lounge 6,092 - 6,092 Building project - 7,641 7,641 Total 324,089 106,533 430,622 NET INCOME/(EXPENDITURE) (6,818) 54,754 47,936 Transfers between funds 8,490 (8,490) - Net movement in funds 1,672 46,264 47,936 RECONCILIATION OF FUNDS Total funds brought forward 210,180 75,347 285,527 TOTAL FUNDS CARRIED FORWARD 211,852 121,611 333,463
The comparative figures for the year ended 31 March 2023 are unaudited.
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THORNBURY BAPTIST CHURCH
Notes to the Financial Statements - continued FOR THE YEAR ENDED 31 MARCH 2024
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13. TANGIBLE FIXED ASSETS
Plant and Building
machinery project Totals
£ £ £
COST
At | April 2023 32,181 - 32,181
Additions - 72,077 72,077
At 31 March 2024 32,181 72,077 104,258
DEPRECIATION
At | April 2023 and 31 March 2024 32,181 - 32,181
NET BOOK VALUE
At 31 March 2024 - 72,077 72,077
At 31 March 2023 - - -
14. STOCKS
2024 2023
£ £
Stocks - books, CD's and cards 310 310
15. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Income tax recoverable 86,873 62,431
Prepayments and accrued income 27,888 2,450
114,761 64,881
Accrued income includes outstanding amounts on legacies recognised in full in the SOFA.
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Notes to the Financial Statements - continued FOR THE YEAR ENDED 31 MARCH 2024
16. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Social security and other taxes Accruals and deferred income 17. LEASING AGREEMENTS
2024 2023 £ £ Social security and other taxes 3,148 3,328 Accruals and deferred income 9,088 3,180 12,236 6,508 LEASING AGREEMENTS Minimum lease payments under non-cancellable operating leases fall due as follows: 2024 2023 £ £ Within one year 4,680 18,720 Between one and five years - 4,680 4,680 23,400 MOVEMENT IN FUNDS Net Transfers movement between At At 1.4.23 in funds funds 31.3.24 £ £ £ £ Unrestricted funds General Fund 179,698 71,266 (73,552) 177,412 Mission Fund 6,575 (44,431) 50,200 12,344 Care Fund 25,579 (19,272) 7,380 13,687 Building Repair Fund - (12,705) 12,705 - Youth Fund - (886) 1,560 674 211,852 (6,028) (1,707) 204,117 Restricted funds Building Fund 59,993 712,648 - 772,641 Specific Mission Fund (Calikids) 8,437 (8,437) - - Foodbank Fund 30,415 1,055 - 31,470 Oasis Fund 17,493 3,302 2,707 23,502 Ukraine Mission Fund 3,536 (1,876) - 1,660 Other specific mission gifts 505 2,529 (1,000) 2,034 Debt Advice Fund 1,232 (498) - 734 121,611 708,723 1,707 832,041 TOTAL FUNDS 333,463 702,695 - 1,036,158
18. MOVEMENT IN FUNDS
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Notes to the Financial Statements - continued FOR THE YEAR ENDED 31 MARCH 2024
18. MOVEMENT IN FUNDS- continued
Net movement in funds, included in the above are as follows:
Incoming Resources Movement resources expended in funds £ £ £ Unrestricted funds General Fund 343,581 (272,315) 71,266 Mission Fund 505 (44,936) (44,431) Care Fund 7,985 (27,257) (19,272) Building Repair Fund - (12,705) (12,705) Youth Fund 2,328 (3,214) (886)
354,399 (360,427) (6,028)
Restricted funds Building Fund 712,648 - 712,648 Specific Mission Fund (Calikids) (681) (7,756) (8,437) Foodbank Fund 23,279 (22,224) 1,055 Oasis Fund 35,903 (32,601) 3,302 Ukraine Mission Fund 270 (2,146) (1,876) Other specific mission gifts 4,324 (1,795) 2,529 Debt Advice Fund 1,738 (2,236) (498) 777,481 (68,758) 708,723 TOTAL FUNDS 1,131,880 (429,185) 702,695
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THORNBURY BAPTIST CHURCH
Notes to the Financial Statements - continued FOR THE YEAR ENDED 31 MARCH 2024
18. MOVEMENT IN FUNDS- continued
Comparatives for movement in funds
Net Transfers movement between At At 1.4.22 in funds funds 31.3.23 £ £ £ £ Unrestricted funds General Fund 135,976 42,790 932 179,698 Mission Fund 29,698 (43,572) 20,449 6,575 Care Fund 42,815 2,224 (19,460) 25,579 Building Repair Fund 1,542 (6,152) 4,610 - Youth Fund 149 (2,108) 1,959 - 210,180 (6,818) 8,490 211,852 Restricted funds Building Fund 6,237 53,756 - 59,993 Specific Mission Fund (Calikids) 15,384 (3,668) (3,279) 8,437 Foodbank Fund 36,567 (1,491) (4,661) 30,415 Oasis Fund 8,688 6,405 2,400 17,493 Ukraine Mission Fund 8,471 (1,985) (2,950) 3,536 Other specific mission gifts - 505 - 505 Debt Advice Fund - 1,232 - 1,232 75,347 54,754 (8,490) 121,611 TOTAL FUNDS 285,527 47,936 - 333,463
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Notes to the Financial Statements - continued FOR THE YEAR ENDED 31 MARCH 2024
18. MOVEMENT IN FUNDS- continued
Comparative net movement in funds, included in the above are as follows:
Incoming Resources Movement resources expended in funds £ £ £ Unrestricted funds General Fund 295,883 (253,093) 42,790 Mission Fund - (43,572) (43,572) Care Fund 16,888 (14,664) 2,224 Building Repair Fund 1,732 (7,884) (6,152) Youth Fund 2,768 (4,876) (2,108) 317,271 (324,089) (6,818) Restricted funds Building Fund 61,397 (7,641) 53,756 Specific Mission Fund (Calikids) 8,925 (12,593) (3,668) Foodbank Fund 21,637 (23,128) (1,491) Oasis Fund 46,154 (39,749) 6,405 Ukraine Mission Fund 6,015 (8,000) (1,985) Other specific mission gifts 14,759 (14,254) 505 Debt Advice Fund 2,400 (1,168) 1,232 161,287 (106,533) 54,754 TOTAL FUNDS 478,558 (430,622) 47,936
General fund Unrestricted funds that can be spent at the discretion of the trustees for any purposes of the church.
Designated funds
Mission Fund - represents income of the church which is set aside for mission purposes. During this year, approximately 20% of unrestricted offering income of the church was allocated to this fund. Care Fund - represents income of the church which is set aside for care issues which arise from time to time in the church. During this year, approximately 3% of unrestricted offering income of the church was _ allocated to this fund.
Building Repair Fund - reflects funds set aside on a monthly basis for building repairs.
Youth Fund - represents funds set aside for youth work.
Restricted funds
Building Fund - represents donations where the donors have requested that the money be used for improving or extending the church premises.
Specific Mission fund (Calikids) - represents donations specifically for child sponsorship in Cali, Colombia.
Foodbank Fund - represents monetary donations received specifically for foodbank and related causes. Goods donated are not reflected in the fund as they are collected and distributed on behalf of North Bristol Foodbank.
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Notes to the Financial Statements - continued FOR THE YEAR ENDED 31 MARCH 2024
18. MOVEMENT IN FUNDS - continued
Oasis (formerly Green Pastures) Fund - represents a housing project in Thornbury. Grants and donations are received from external sources specifically to be used to fund the leasing of a property, to renovate and let to formerly homeless individuals.
Ukraine Mission Fund - represents a specific fund set up in support for Ukraine from March 2022.
Debt Advice Fund - a community project representing funds specifically given for debt advice. Other specific mission gifts - represent donations where the donors have expressed a wish that the money be used for a specific mission purpose. There is a separate fund that represents money in relation to child sponsorship in Cali, Colombia (Calikids). Comparative analysis of net assets between funds, are as follows: Fund balances as at 31 March 2023 Unrestricted Restricted Total funds funds funds £ £ £ Current assets 218,360 121,611 339,971 Current liabilities (6,508) - (6,508) Total net assets 211,852 121,611 333,463
Transfers between funds
During the year, a transfer of £50,200 (2023 - £42,000) was made from the General Fund to the Mission Fund reflecting the church's policy of earmarking approximately 20% of general donations for mission purposes. In the prior year, £19,151 was released from the Mission Fund to correct the fund balance.
Similarly, £7,380 (2023 - £6,300) was transferred from the Mission Fund to the Care Fund being approximately 3% of general donations.In the prior year, £25,760 was released from the Care Fund to correct the fund balance. £2,707 (2023 - £2,400) was transferred from the Mission Fund to the Oasis Fund in support of the work of Oasis.
£12,705 (2023 - 4,610) was designated from the General Fund to the Building Repair Fund to reimburse it for repair costs incurred in the year.
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Notes to the Financial Statements - continued FOR THE YEAR ENDED 31 MARCH 2024
19. RELATED PARTY DISCLOSURES
Donations from trustees and related parties
The aggregate donations received from Trustees and other related parties were £55,585 (2023 - £14,759).
20. COMPANY LIMITED BY GUARANTEE
The charity is a private company, registered in England and Wales, limited by guarantee having no share capital and, in accordance with the Memorandum of Association, every member is liable to contribute £1 towards the costs of dissolution and liabilities incurred by the charity in the event of the charitable company being wound up.
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THORNBURY BAPTIST CHURCH
Detailed Statement of Financial Activities FOR THE YEAR ENDED 31 MARCH 2024
INCOME AND ENDOWMENTS
Donations and legacies Donations and offerings Income tax recoverable Legacies Grants
Investment income Deposit account interest
Charitable activities Bookstall and coffee lounge Youth events Rent Other events
Total incoming resources
EXPENDITURE
Charitable activities Wages Social security Pensions Ministry Books, cards and supplies Conferences and training Events and activities Foodbank Oasis costs Building project Grants to institutions Grants to individuals
2024 2023 £ £ 784,893 359,190 168,937 64,259 25,000 - 91,100 - 1,069,930 423,449 12,013 1,374 3,606 2,354 9,047 4,500 34,541 45,137 2,743 1,744 49,937 53,735 1,131,880 478,558 185,424 187,825 8,457 9,095 9,092 6,812 6,204 4,056 4,273 2,122 1,812 2,662 8,663 7,763 22,203 14,128 32,940 39,749 - 7,641 24,265 53,135 61,730 50,623 365,063 385,611
Support costs Finance Bank charges
2,085 1,141
This page does not form part of the statutory financial statements
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THORNBURY BAPTIST CHURCH
Detailed Statement of Financial Activities FOR THE YEAR ENDED 31 MARCH 2024
2024 2023 £ £ Finance Accounting and governance Accounting and governance - 3,180 Premises Premises costs 42,353 28,921 General back office costs General back office costs 11,824 11,769 Governance costs Auditors' remuneration 5,940 - Auditors' remuneration for non audit work 1,920 - 7,860 - Total resources expended 429,185 430,622 Net income 702,695 47,936
This page does not form part of the statutory financial statements
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