Charity reglstratlon number 1171397 (England and Wales) STREET BAPTIST CHURCH ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
STREET BAPTIST CHURCH LEGAL AND ADMINISTRATIVE INFORMATION Trustees P Bryer C Ford Rev T Style5 M Dukes (Appointed 1 September 2024) Charlty number 1171397 Independent examln&r ART Accountants Limited Ground Floor 11 Manvers Street Bath BA1 1JQ
STREET BAPTIST CHURCH CONTENTS Page Trustees, report Independent examiner's report Statement of financial activities Balance sheet Notes to the financial statements 6-17
STREET BAPTIST CHURCH TRUSTEES, REPORT FOR THE YEAR ENDED 31 MARCH 2025 The trustees present their annual report and financial statements for the year ended 31 March 2025. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial stalements and comply with the charity's governing document, the Charities Act 2011, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "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)" Objectlves and actlvltles The objectives of the Church are.. The advancement of the Chrlstlan Faith in accordance with the Basis of Faith, primarily but not exclusively within Street and the surrounding neighbourhood., and Such other charitable purposes as shall, in the opinion of the Members of the Church in General Meeting, further Ihe work of the Church. The trustees have paid due regard to guidance issued by the Charlty Commission In deciding what actlvltles the charity should undertake. The Church undertakes a full programme of meetings and activities to splritually strengthen those who attend regularly and to reach people in the area with the Gospel. As well as Sunday Services, we hold Prayer Meetings and Growth Groups. The community work of the Church contlnues with Door-to-Door Evangelism, Toddlers, Children and Youth work, Take-Away-Church (TAC) and we work with local schools in the area. It is very encouraging to involve so many people of all ages in our Ministry. Achlevements and performance Although the Church does not measure the success of its programmes in numbers, we continue to welcome new members and there is a great deal to be thankful for. The Church's vision remains lo increase its activities and role within the community and look fOard to this work developing over the next year. Flnanclal revlew It is the policy of the charity that unrestricted funds which have not been designated for a specrfic use should be maintained at a level equivalent to a minimum of three month's expenditure. The trustees considers that reserves at this level will ensure that, in the event of a significant drop In funding, they wlll be able to conlinue the charity's current activities while Consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year. Restricted funds of £1,564,266 (2024- £1,565,126) were held at the year end. The majority of this is in relation to donations for the new building. The trustees have assessed the major risks to which the charity is exposed, and are satisfied that systems are in place lo mitigate exposure to the major risks.
STREET BAPTIST CHURCH TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Structur0* gov•rn8nce and managoment The ch8rity18 8 Charllable Incorporated Organlsatlon. There are currently four trustees appolnted In Ilne wlth t Constltullon. These WIH Mpse Pastor(s), Church Admlnl8tr8tor. Church Treasurer ond olh8rs gelocted by thè Elders and Deasxjni. Th8 tru81008 who served durlng the yoar and up to the dato of Blgnature of tho flnanclg18tatementB wern: P Bryer C Fcyd Rev T Styl85 M Duke8 {Appolntsd 1 Sèptombor 2024) None of Iho tru8tee8 h88 any TrefIcIal Int8rn81 In the company. All of the tru8teo8 are member8 of th¢ company and guarantee to contrfbute £1 In th8 event of a wlndlng up. The trustees meet at least on a qu8rterfy ba815 and wlll dlscuss the fln8nd81 posltlon of th8 Church and reports on Health & Safety, Safegu8rdlng. Data Protectlon together wbth any Duty of Car8188ue8 or Serfous In¢ldents. Thg tru8t888' rgport was appmved by the Board of TN•t•os. C Ford Tru8ts0 Oatsd:.,IA.,.7.: as....
STREET BAPTIST CHURCH INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF STREET BAPTIST CHURCH I report to the trustees on my examination of the financial statements of Street Baptist Church (the Gharity) for the year ended 31 March 2025. Responslbllltles and basis of report As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011. I report In respect of my examination of the charity's financial statements carried out under section 145 of the Charities Acl 2011. In carrying oul my examination I have followed the Dlrections given by the Charlty Commission under section 145(5){b) of the Charities Act 2011. Independent examlner'8 Statement Your attenlion is drawn to the fact that the charity has prepared the financial statements in accordance with the relevant version of the Statement of Recommended Praclice applicable to charities preparing their financial statements in accordance with the Financial Reporting Slandard applicable in th8 UK and Republic of Ireland IFRS 102} in preference to the Accounting and Reporting by Charities.. Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn. l understand Ihat this has been done in order for the financial statements to provide a true and fair view in accordance with UK Generally Accepted Accounting Practice. I have completed my examination. I confirm that no matters have come to my attention In connection with the examination giving me cause to believe that in any material respect.. accounting records were not kept in respect of the charity as required by section 130 of the Charitles Act 2011. the financial statements do not accord wlth those records., or the financial statements do not comply with the applicable requirements concerning the form and content of financial statements sel out in the Charities {Accounts and Reports) Regulations 2008 other than any requirement that the financial statements give a true and fair view, which is not a matter considered as part of an Independent examination. I have no concerns and have come across no other matters Sn connectlon wlth the examlnatlon to whlch attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached. Mr P J Barton FCCA ART Accountants Llmlted Ground Floor 11 Manvers Street Bath BA1 1JQ
STREET BAPTIST CHURCH STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2025 Unrestrlcted Restrlcted funds funds 2025 2025 Totsl Unrestricted Restrfcted funds funds 2024 2024 Total 2025 2024 Notes Income from: Donations and legacies Investments 157,764 1,009 4,805 800 162,569 1,809 147,861 661 3,270 89 151,131 750 Total Income 158,773 5,605 164,378 148,522 3,359 151,881 Exp8ndlture on: Charilable activities Other expenditure 127,289 23,501 8,465 133,754 23,501 119,898 20,037 4,980 124.878 20,037 Total expendlture 150,790 6,465 157,255 139,935 4,980 144,915 Net Incomel{èxpendltur8) and movement In funds 7,983 {860) 7,123 8,587 (1,621) 6,986 Reconclllatlon of funds: Fund balances at 1 April 2024 880,341 1,565,126 2,445,467 871,754 1,568,747 2,438,501 Fund balances at 31 March 2025 888,324 1,564,266 2,452,590 880,341 1,565,126 2,445,467 The statement of financial activitie$ includes all gains and losses recognised in the year. All Sncome and expendltur& derive from continuing activities.
STREET BAPTIST CHURCH BALANCE SHEET ASAT 31 MARCH 2025 2025 2024 Nolo8 Flx•d a•••ts Tanglbl8 888èts Currant as80ts Debtorg Ca8h at bank 8nd In hand 10 3.082,000 3,082,000 11 9.047 100,230 99,840 107,574 109,277 Credltor•: amounts falllng duo wlthln on• yoar 13 (16.860) (14.939) Net current a88818 90.714 94,338 Tolal ••••l• l•M ourr•nt Ilabllltlo• 3,172,714 3,176,338 Crodltorn: amounts falllng du• jftor mor• than on• y•ar 14 1720,124) (730,871) Not a••gt• 2,452,590 2N45,487 Cap1 and In¢om• fund• Bulldlng ¢apltsl fund other r88tr1cted funds 1,521,583 42.683 1,521,583 43.543 16 1,684,286 1,685,128 D081gnal8d lund8: Ml881onary Support 14,900 18.590 4,568 17,584 58,323 814,417 23.158 42,766 814.417 General unrejlrfcted fund8 Revaluation rgjerve 888.324 880,341 2,452,590 2,445,467 Th8 flnanclal 81atements ware approved by the TnJste86 on ...11...7.13£....... P Bryer Tru010• C Ford Truste•
STREET BAPTIST CHURCH NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Accountlng pollcles Charlty Informatlon Street Baptist Church is a Charitable Incorporated Organisation. 1.1 Accountlng Conventlon The financial statements have been prepared in accordance with the charity's governing document, thé Charities Act 2011, FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charilies preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 1021 The charity is a Public Benefit Entity as defined by FRS 102. The chariiy has taken advantage of the provisions In the SORP for charities not to prepare a statwnent of cash flows. The financial statements have departed from the Charities (Accounts and Reports} Regulations 2008 only to the exlent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practlce which is referred to in the Regulations but which has since been withdrawn. The financl81 stalements are prepared In sterting, which is the functional currency of the charity. Monetary amounts in these financial slatements are rounded to the nearest £. The financial slatements have been prepared under the historical cost conv8ntion, Imodified to include the revaluation of freehold properties and to include investment properties and certain financial instruments 8t fair value]. The principal accounting policies adopted are set out below. 1.2 Golng concern At the lime of approving the financial stalemenls, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trLBtees continue lo adopt the going concern basis of accounting in preparing the financial statements. 1.3 Charltable funds Unrestricted funds are available for use at the discretlon of the trustees In furtherance of thelr charitable objectives. Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements. Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity. 1.4 Income Income is recognised when the charity is legally entitled to it after any performance condition8 have been met, the amounts can be measured reliably. and it is probable that income will be received. Cash donations are recognised on receipl. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is re¢ognised at the time of the donation. Legacies are recognised on receipt or othemise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
STREET BAPTIST CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Accountlng pollcles (Contlnued) 1.6 Exp8ndlture Liabilities are recognised as soon as there is a legal or construclive obligation committing the tharity to pay out resources, 1.6 Tanglble fixed a88et8 Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. Depreciation is recognised so as to write off the cost or valuatlon of assets less their residual values over thelr U86ful lives on the following bases.. Freehold land and buildin98 Not deprecialed Th8 gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities. 1.7 Impalrment of flxed assets Al each reporting end date, the charity revlews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impainnent loss. If any such IndatIOn exists, the recoverable amount of the asset Is estimated in order to determine th8 extent of the Impairment loss (If any). 1.8 Cash and cash equlvalents Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term Ilquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilitie8, 1.9 Flnanclal Instruments The charity has elected to apply the provisions of Section 11 'Basic Financial Instruments, and Section 12 'Other Financial Instruments Issues, of FRS 102 to all ol Its financlal instruments. Financial instruments aro recognised in the charity's balance sheet when the charity becomes party to the contractual provlsions of the instrument. Financial assets and liabilities are offset, with the net amounts presented In the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention lo settle on a net basis or to realise the asset and settle the liability Sirnultaneously. Baslc flnancial assets Basic financial assets, which include debtors and cash and bank balans, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future reiptS discounted al a market rate of interest. Financial assets classified as receivable within one year are not amortised.
STREET BAPTIST CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 AcGountlng pollcles Icontlnued) Basic Ilnanclal Ilabilities Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as Current liabilities if payment is due wilhin one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. Derecognltlon of flnanclal Ilabllltles Financial liabilities are derecognised when the charity's contractual obligatlons expire or are discharged or cancelled. 1.10 Employee beneflts The cosl of any unused holiday entitlement Is recognised in the perlod in which the employee's services are received. Terminalion benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits. 1.11 Retlrement beneflts Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due. Crltlcal accountlng estlmates and Judgements In the application of the charity's accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on hislorical experience and other factors that are considered to be relevant. Aclual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects cnly that period, or in the period of the revision and future periods where the revision affects both current and future periods.
STREET BAPTIST CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Donatlons and legacles Unrestrlcted Restrlcted funds funds general 2025 Totsl Unrestricted Restricted funds funds general 2024 Total 2025 2025 2024 2024 Donations and gifts 157,764 4,805 182,569 147,881 3,270 151,131 Donatlons and glfts Offerings Gift Aid Refund Other Gifts Camp Community Meals 119,744 26,821 11,199 119,744 26,821 11,199 4,805 116,328 25,725 5,808 116,328 25,725 5,853 3,175 50 45 3,175 50 4,805 157,764 4,805 162,569 147,861 3,270 151,131 Income from Investments Unre8trlcted Restrlcted funds funds 2026 2025 Total Unre8trlcted Restrlcted funds fund8 2024 2024 Totsl 2025 2024 Interest receivable 1,009 800 1,809 661 89 750
STREET BAPTIST CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Charltable actlvltles 2025 2024 Staff costs- Ministry Ministry Property Costs Restrict8d fund expendilure Speakers and Gifts Electric and Gas Insurance Maintenance IT and AV Costs Offic& Costs Cleaning and Kitchen Subscriptions and Licences Other Expenses Children and youth Outreach Support Fund 34,051 8,739 6,465 297 9,308 2,251 8,261 2,428 1,677 2,779 5,430 4,968 2,913 4,662 4,200 34,395 13,422 4,980 2,103 11,753 2,231 4,555 2,185 1,200 4,392 6,391 2,878 4,514 5,931 2,980 98,429 103,888 Missionary Share of governance costs (see note 8) 34,335 990 20,000 990 133,754 124,878 Analysls by fund Unrestricted funds - general Restricted funds 127,289 6,465 119,898 4,980 133,754 124,878 Support Costs allocated to actlvltl88 2025 2024 Governance costs 990 990 Analysed between: Charitable activities 990 990 10-
STREET BAPTIST CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Trustees Rev T Styles, was a trustee for the year and received aggregated remuneration during this time of £30,838 {2024 - £29,469) for services as a Pastor to the Church. Property costs associated with this employment of £8,739 {2024 - £13,422) were also paid. Employees The average monthly number of employees during the year was.. 2025 Number 2024 Number Employment costs 2025 2024 Wages and salaries Social security costs other pension costs 30,829 419 2,803 31,149 510 2,736 34,051 34,395 There were no employees whose annual remuneration was more than £60,000. Other oxpondlture Unrestrlcted Unrestrlcted funds funds 2025 2024 Financing costs 23,501 20,037 11
STREET BAPTIST CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 10 Tanglble flxed ass8ts Freehold land and bulldlng8 Cost or valuatlon At 1 April 2024 3,082,000 At 31 March 2025 3,082,000 Carrylng amount At 31 March 2025 3,082,000 At 31 March 2024 3,082,000 Land and buildings wilh a carrying amount of £2,285,000 were revalued at g June 2020 by Cooper and Tanner, Independent valuers not connected with the charity on the basis of market value. The valualion conforms to International Valuation Standards and was based on recent market transactions on arm's length tems for similar properties. Since this valuation a Manse property wa8 purchased in June 2023 for £797,000 At 31 March 2025, had the revalued assets been carried at historic cost less accumulated depreciation and accumulated impairment losses, their carrying amount would have been approximately £2,267,583 (2024 £2,267,583). The original cost of the church building in 1814 is unknown as is the new hall built in 1968169. With the completion of building works in late 2019 the restricted expenditure lor this has now been capltalised under tangible fixed assets. As mentioned above the Trustees have now obtained a current valuation of the property in order to carry the freehold property at market valuation. The church replaced FIEC as Holding Trustee of the property in February 2019. 11 Debtors 2026 2024 Amounts falllng due wlthln one year: Olher debtors 7,734 9,047 12-
STREET BAPTIST CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 12 Loans and overdrafts 2025 2024 Bank loans Other loans 390,746 340,000 396,487 340,000 730,746 736,487 Payable within one year Payable after one year 10,622 720,124 5,616 730,871 Amounts included above which fall due after five years: Payable by instalments 673,339 688,460 The long-term bank loans are secured by fixed charges over the Manse, 13 Credltors: amounts falllng due wlthln one year 2025 2024 Notes Bank loans Other borrowings Accruals and deferred income 12 6,955 3,667 6,238 5,618 9,323 16,860 14,939 14 Credltors: amounts falllng due after more than one year 2025 2024 Notes Bank loans Other loans 12 383,791 336,333 390,871 340,000 720,124 730,871 15 Retlrement beneflt schemes 2025 2024 Deflned contrlbutlon schomes Charge to profit or loss in respect of defined contribution schemes 2,803 2,736 13-
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STREET BAPTIST CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 17 Analysls of net assets between funds Unrestrlcted funds 2026 Restricted funds 2025 Total 2025 At 31 March 2025: Tangible assets Current assetsl(liabilities) Long tenn liabilities 1,560,417 48,031 (720,124) 1,521,583 42,683 3,082,000 90,714 (720,1241 888,324 1,564,266 2,452,590 Unrestrlcted funds 2024 Re8trlcted funds 2024 Total 2024 At 31 March 2024: Tangible assets Current assetsllliabilities) Long lerm liabilities 1,560,417 50,795 {730,871) 1,521,583 43,543 3,082,000 94,338 (730,871) 880,341 1,565,126 2,445,467 15-
STREET BAPTIST CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 19 Related party transactions There were no di5closable related party transactions during the year. 17