Charlty numbw. 1172326 ROMFORD BAPTIST CHURCH TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 VINT
ROMFORD BAPTIST CHURCH coKrEKrs R•f8rnnc• and Admlnlstratlv• Delalls of th• Charhy, Its Trustws and Advisers Trusto•s' Report Independent Audltors. Report on the Flnanclal Slatements statem•nt of Flnancial Activltl•s 3-11 12-15 16 Balance Sheet 17 Ststement r*f Cash Flows 18 Notes to the Financial Statements 19-32
ROMFORD BAPTIST CHURCH REFERENCE AND ADIAINISTRATIVE DETAILS OF THE CHARITY, rrs TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER2023 Trustees H Ayris. Secretary S Tunde, Treasu Rev. l J Bunce B Schulte Rev. J R Love8nJ J J Gva-MalekodUnmI R S Ebom (resigned 31 December 20231 Rev. V J Bunce J L Brown (resied 31 Janry 20231 K S Yates E O Ar010 F O La¥wdni D Smith (8PIKiinted 11 June 2023) Charfty reglstered number 1172326 Prlnclpal offl¢è Main Rt)ad Romford Essex RM13BL Indwndent audlto Venthams Chartered Accountants Millhouse 32- 38 East Strè8t Rochford SS4 1DB Page 1
ROMFORD BAPTIST CHURCH REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARrrY, ITS TRUSTEES AND ADVISERS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Bankers Rt)yal Bank of Seolland Drummorvj House PO Box 1727 Edinburgh EH12 9RH Baplst Unlon CorpNakn Ltd Baptist House PO Box 44 129 Broa¢th¥ay Oxford OX118RT LoThJon Baptisl Propety Board Ltd Unit C2 15 Dock Street London E18JN CCLA Sènator 85 Que Wctorfa Street LcOn EC4V 4ET Pa98 2
ROMFORD BAPTIST CHURCH TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2023 The Trustees present their annual report t(yther wth the audited financial statements of th8 Charity for the 1 January 2023 to 31 December 2023 The Twst88s of Romford Baptist Church have the ress11ty of r•Npemting Trthth the pastors In promoting the whole misslon of the Church. pastoral. èvangelisti.c. SOCI 8nd 8Gumenical- In and arou1 Romford, but also in the wder community and thrcwghout the vrtd. Objactiv•s and actfvltles a. Policies and objectlves Tha ch8rtys obpclNes are: The advancemenl of the Christian Faith accordlng to the prlnLipl8s of the Baptlst deTh)min8ti0n. A<fvance education and carry out other tharifable purposes in the United Kingdom and other parts of the workl. The relief of those in ne&J. by re350n of 5ouLh. agg. khearth. financial hardship other disadvantage. In setting objectives and planning for aclivtties. Ihe TNstees have given due ¢onslder8tlon to general guFd8nca published by the Chartty commissi relatiThJ lo wblic benefi( Iruding the guidance Public b8n8fil.' running a charity IPB21'. b. Activitias und•rtakan to achieve objectlves In fulfilling Its purpose the thurch engages In a range of actiwtt&8 ether IL5 own or with others that vary from time lo tirne activities b8ing iNtiated. expanded or closed, as appr(4)riate. c. Grantamaklng poll¢les The church makes donati¢5 ID SUPPOrt other Baptist CaeS iIng donations to BMS Worfd Mission. We 8150 SUPPOrt ow IaL churches together srJ)t]ols ministy. Graceworks. We do not make grants to individuals or other organis81ions. d. Voluntee For nearly all of cwr ti$S need volunteers and this Is som8thing that remains a challBnge, particularly slnce Covtd. We recognisa that this is r8fl8Ct8d by many orgatIOnS nationwide but we are gralefvl to all those people who gNe of their time on ellher 8 regular (Y iffegulor basi5. Pag8 3
ROMFORD BAPTIST CHURCH TRUSTEEY REPORT {CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Oblectlves and acllvltles (contIndI . Main activities undertaken lo furtherlhe Charws purposes forthe publlc benefit Annual Raport Romford Bapl'st Church's theme f¢X the year 2023 was based on Isaiah 54..2 'Enlarge the place of your lent, stretch your tent curtains wide. do not hold back.. lengt srjur cords. streruthen your stakes.. As we exploreé this Iherne during the year we were chollenged as a thurch to go deeper in our faith with J&8us so that we are stronger to grow and more open to what &)d may have fN u5 a5 indivKluabs and as a church. During 2Q23 the church was In operatlon for the full year. We saw skJnthcant Ilfe In 1 aspec15 of the church, ¥th th8 church bulldlngs arKI minlstries runnlng 7 day8 a week vAlh 100's of people accesslng the Church on a day- to-day basis. Our Sunday congregations strong in number aTrd continued to see the varKJus actwities growing. W8 maintsined holding the C8useway serwce c4Ke a month for adults with additional needs, this happens on thè fourth Sunday afternoon of the month and has seen a support. Both Sunday moming and everbing services continued to thrive. S1C@s r8laltro to th8 riles of p8ssage C(linUBd IhrcvJh Ih8 y88r 8s we r8cognised th8 passing of beloved and lonstandlng members of tho a5 w811 as tt)ose hav8 k)Irl kn more racent years. Two of our congregation We also deduted in 2023. Youth and ChlldT•n Our Youth, Childr8n's and Familiès work has prOSreAl in this last y8ar. OLJr YoLJth and Childr8n's worf(8r has now transferred lo being a Mlnlster-in-TRinlrvJ al Spurge(m's Colkge, vthilst remaining on placement al Romford Baptist Church. The SUraY groups, tekty yDuth and rAher acbvj1S ntInued to meet A summer hotiday club was held and the Auttjmn youth weekend to Fellowslip AllrAt vrds a W success. Postoral CJre The pastots continued to supF a significant number of pecyle with pastoral care. Some more difficult arxl demanding siknations meant that th8 paslcKs had to engage wlh outside agencies and local government, particularly where there were injustices and housiro matters, sometimes leaving vulnerable people, including childr8n, on kne streets of Romford. Horne communKTh and past81 visiting also took pl8c8 81 times and regular contad Vds kept wth as many peo as possible by telephone. messaging. ernail or wrttten communication. The Minister Team leader s0 trKJk up a r(Ae ¥th the local hosprtal trust as hOnCary chaplain. Addltlonal needs Our aclwities for those addOnal ne8ds rAintinu8d to be busy. The regular Amaze groups are now back a full programme. including the M(thlY Causvway servi, whilsl the Amaze Parents Support Group continued to SUPPDrt esch other throwJh reguJ8r c(4wersations via messages 8S W8118s m88ting oncÈ 8 month. Adoptlon Group The adoption group continued thi8 year. We have fom)eA meaningful relatK*nships the local 8Uthority and olheT5 to better support adopted chiklren and Ung people and their farni1s. The actNiles run by the adoption team alOr with the local authority Ere veryweil atterKled afKI appreryated by the wnmunty. Dl8clple8hlp Our small groups wlinued during the year meetirMJ in a number of homes around the area as well as a group continuing to m88t onlin8 as it had done during Covid. We studi8d many drfferent SLJbj8cts and b8n8fitÈd by the Page 4
ROMFORD BAPTIST CHURCH TRUSTEES. REPORT {coKnNUED) FOR THEYEAR ENDED 31 DECEMBER2023 Obloctlves and adlvhies (contlnuod) joint leaming. During the ygar we held 3 Baptismal s8NcRs th 8 lotsl of 11 pecwe Prof1ng th81r fath in J8$Lts through the Wdters of Baptism. Older ggneratlon All tho WO wth the older gen8rnbon was able conttnue ihis year and. at each evenL th8re was ahNayE space given for a sFv)rt tslk or thought aboLrt the Christian lath 8rvJ favcKJrite hymns sung. Th8 weekly Treasure Tiwnes is preceded by som8 choosing to lurKh together before each session as well as during the FK)lidays when the group don't me8t. Thls is a go)d way to maint8in rdationships and combat lon8lln8ss felt by mary of this age group. So many have no-one else to share a meal with other than during thls regular gathering. 3 Holiday at Home day events were also Fun on a vaiiety of th8mes givTng a for older people lo meet with th[ peers. again to overcome their k*li)ess INrt also to atteThl geared to thwr age group wth fun fd at its hearL Mlssion Our Outreach work, tha M88tirwJ Flace. had contrued trj th[1 during the year Imth some n8W Staff joinlng the 18Bm. W8 saw a number of groups partnering vthth us iudir¥j the HOSP and Age UK and some of those vtho have attended have subséqLJenty joined the older generab.on actiwlies or have begun to wme on a Sunday mtsrning to Ihe service. 11 has been enCraJIrlJ Éo see a lot of r¥ peoplejoining with us al the Meeting Place. We continue Iu 5UWOrt the Comrnunity klon8y Advice Centre. a debt support prcgromrne th81 h&8 grown and now has a waiting list. This was 1arh8d in AW 2021. We currentty have 6 trained volunteers and are regist8rgd with the FSA to support peorAe from Ihe wmmunity th h8V8 debt to help them lo gel back on th8ir feat. 2023 saw some GInts being free from thelr debts tt sadty we ded the year with a waiting Ilst of clb8nls needing support. We are acttvely sed(iry to Increase ar train the number Df advisors lo Increase the capaclty. ThÉs is an imt4)rtant part of our mkqsK)n. We continued lo support the vhxk of those lK) reach into the Ial schools with the message of the Chrlslian faith thrcyJgh our partnership with Gratxworks. We also coniinue lo partner with a street feeding programme which aims lo t0de food for those in ne&Y in the Romford area 5 da a week. We are still Jrking wth our link church in Sor, Bulgaria. We hav8 sIrC links wtth BMS World mth. suppybry Lwi5e arKJ Pat8r LCh. worklng in Banglad8sh. W8 held a perfomiance of "Ir WalL8 CoLdd spea a play by the Artless Theatre Ccrfnpany 8boul persecuted christia across the worhj. This a gcxxl supporL Our Partnership with Winter Gardens Baptist Church continu8d, vknereby we have corbtinued to indude prayer ints in our weakly nletter. This was a gre81 focus for our wth Home Missitin. Durlng the yèar we took on the oV$hiP and m8nag8m8nl of the Romford and Collier Row Fwdbank. To this &nd we hav8 set up a new charty {Romford Baptlst Church Community Carel %thlch wès registered in September 2023 {Charity number 1205474). The assets of the Fooybank were passed over to us from tha previous organisation. Whist in this year the a¢Unts of the Foodb8nk are reflected in the church accounts, in fubJre yeavs they will be separated. We have empty a Ccx)rdinator for the Foodbank. The chuTch received visits frcm a number of schwls duriro ts sear for sp8cial servic8s including Harvest, Chrislm8s and Easter. We also condLKted assembl in kKal sthcNJls pr8s8nting copies of the book "Irs YcAJr Move.. Other groups ntInued to meet includirKJ the prayer group5 online and in rsOn, sodal groups and craft groups. Page 5
ROMFORD BAwfisT CHURCH TRUSTEEV REPORT ICOPrnNUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Oblectlves and activities {contffind) We revi8w? updated lh8 churL**s Safeguarding pclicy during year. Church Away Day In Jun8 w8 hekl fAJr church away day 81 Frinton on Sea. This was well attended. the thefne of the day was based on uur verse of the year. there was also OPFQrtuntyin the prcgramme to spend time together socialty. Leadèrship Away Day In November the Leadershlp Team and the Trustees of ParksKle {see below) an away day at South Weald. The aim of the day was to seek Gcd's RBC arbj Parkside jointly aThl we cotjld move foNard together. The outcomes of this day continue f¢ywar(l into 2024. Parkside The work of Romford Baptlsl Church Housing Association {ParkSle) continued and was by Romford Baptist Church Minister Team Leader and is supported by the Minister who has a fCS on th8 old8r g8n8t8tion. Th8 full report fer activlties of this Home carb be seen in ils own repcwl. The Buildings We continued lo maintsin our Eyjilthngs and ensure that they remained in goc¥J order, this included some substsntial roof repairs. A new toilet vras added in the kAJrEe premises. We also upgrad8d th8 cameras in the church sanctuary for a better slreamirMJ service. Som6 outslde baokirgs made use of the buj1J, the BIL1 Donovs, some chlklren's dar classe8, 8 fostering group, a phonlcs groLW arKI 8 men,5 group. We have also built strong links with the U3A and the job cenlre. We continue to be a member church of the Baptt Union of Great Britain and LoThJon Baptists. Flnan¢e L¢okfng lobward Like many organisalrts ar8 anticipatiry thè fijlure lIh faith blrt 81so a sensè of vthat will nèed lo be drfferent. We a listeni1 lo God 8nd the community to see what we need to do lo show God's love going forward. God is still at work. The church has spent some time stsrling to Icok at the next steps for the church. Page 6
ROMFORD BAPTIST CHURCH TRUSTEEV REPORT {COTrUINUEDI FOR THE YEAR ENDED 31 DECEMBER2023 Achievements and porfomian a. Rovi8w of actlvltles At 31 Dec8mber 2023 the churc* rnembersp totalkd 212. During th8 y8ar we had 13 new m8mbers join the church. Sunday attendance grew to around 350 a1 atrywt (x)mputsrsldeMces were tuned in lo tsur Ihjeslream seThl¢es each Sunday. Th8 tiVitieS of the chwch. through its organisations, have cx)ntinued vthh 8 sense of purpose and encouragement. We have exFerienced the enccAJragement of many new peopl8 worshipping wth us throughc the year. The church was host to a number of occasbons. makkng the larg8 vAIrsP area and extensNe bulldlngs 8vaiLoble to organisations within the communty. b. FundraJ8lng activities and Income generatlon The churth generates income mainly through the donations from its membership and others throughDuI the regular cCgregatIoll. The trustees regularly update tho mwmb8rship as lo th8 current financwl situation of the church. c. Invlment pollcy and perfonnanca The church do8s not have an investment wrtfolK). any resentsl are the Baptist Togelher high inter851 accounL Financial revlew . Golng toncern After moking appropriate enquiries, the Trustees have a re8son8bLg expectation that the Charty has adaquate resoUe$ lo conlinue in operational exisience for the foreseeable future. For this reason, thèy continue to adopt the going concern basis in prepari the financial statements. Further detai regarding th8 adoption of the wiryJ concem basis can be found in Ihe acccAJnbng F#s. b. Reserves policy In order to meet the running costs of the thurth for 12 mnths beyond Ihe balan sheet dale, an amount estimated 8t £450,000 would be required. This amount is comfortabty met by Ihe cash reserves h8ld by the church. Total inwme for the year was £540.470 {2022: £415,581) and the total exp8ndire for th8 year was £486.701 12022.. £465,381). Tr surplus for Ihe sEar Wd8 £53.769 (2022: £49.800 deficlll. c. Princlpal Tlsks and uncertalnlles All mapr insurabl8 risks are subject lo norwnal church arbj employerfs insurance. Contractual risks are rèMew8d before being entered into lo assess thal they ts)uld not signifnY IMW upon the church's ability to fulfil its objectives. An annual rew8w of 811 areas of risk urKlertaken by th8 trustees in conjunction Mlh stsff And volunl68rs responsible for the orea of actswty. Pagè 7
ROMFORD BAvllsT CHURCH TRUSTEES. REPORT (copillNUED) FOR THE YEAR ENDED 31 DECEMBER 2023 d. Principal fundlng The prinapal funding source of the charity is the donations received from members of the church throughout the year. e. Flnènclal control Romford Baptist Church - the Charity rwates under a scheme of authority delegation. Disbursement of the Charity assets must be property authorize(I In a(£ordance th the pr(thdures. All pay7nent musl have dual aulhoriz0ti. Romford Baptist Church has a Nnants Commlttee that mèets three times a yèar to rèvlèw pmposad annual budg8t, the final financial year statement and the ann1 audit reports and accounts. The Finance Committee recommend the annual buw the annual auditj rwts arKI acUnts to Ihe Romford Baptist Church Trustees who recommend these at the Church meetiro. Tha Flnal Year End Accwnts are prepared by the Treasurer. r8¥1 by the Finorth Team, aVed by the TNstees befgre being presented to the Chwch Nlembers meelirva. off by the Trustees and submitted to th8 Charity Commi&sitin. The Romfdrd Baptist Church Leadership Team - whith 1K1e$ the Trustees- receives regular management reports and ensures that this is representative of the actwitS within the Charty. Page 8
ROMFORD BAPTIST CHURCH TRUSTEES. REPORT ICOMTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Structurei governanco and management . Constitutk)n Romford Baptlst Churth is a reglstered drIty, number 1172326. and Is o)nstiiuted under a Trust dèed. b. Methods of appolnlmgnt or èlection of TTusle¢s The management of the Charity i8 the reS[nSIbIlIty of the TIL ar8 elected and co-optad under the terms of tho Trust deed. c. Organlsatlonal strncture and ded8lon4naklng pollcles The deacons are elected by the Church members at the Annual Ger1 Meeting IAGM) CK other church Membèrs Meeting as (lesired. At the end of December 2023, the leadership team ¢ls18d of tw fulktine p&tsrs. part time pastor, one Outreach Leader,fv ministers in Iraining. officers and deacorts. The church also employs a number of full and part time staff to assist wlth adrnknlstratlon arKJ to run the coffee shop (Th8 M8eting Place). Plans forfuture periods The fvlure Is challenging and exryting: we are &xpecting great thiros of an arnazng God as we reach out into our community in Rotnforf. We are reminded of the rd to pray aboLrt how %%E can, individually and corporately, bring glw lo our Lord and Saviour. Jesus Chri%L 2024 vlll see the churd) ¢ebrati Its 90th anniversary and work Is being d(8 towards a strategyof (Jeveloplng th8 thurth for the next 98n8ralKTrn. Page 9
ROMFORD BAPTIST CHURCH TRUSTEE¥ REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 statement of Tru•t••8' r•sponsibilitie8 Th8 Trustees 8re responsible for preparing tho Trustees. Rewrt * the financial slalements in accordance wilh appllcable law and United lfjngdom Accountir4J StarKlards {United Kirydom G8n8rally Acc8pt&Y Accounting PractTce). The law applicablè to ¢h8Iibes in Engl & Wales requires the Trustees to Frepare financial statements for each financial which glve a true and fair wew of the state of affairs of the Charity and of its incoming resources and application of resources, inclLJing its in)me aThJ exFenditure. for that period. In pparing these financial statements. the Trustee5 are required to: select suitable accountlng wIleS and Ihen apply them consistendy. observe the rnethods and princAFles of the ChareS SORP (FRS 102)" make judgments accountiry estimates that are reasonable and prudent.. statè wh8ther applieble UK Acc4Junting Stsndards IFRS 102} have en followed. subject to any mater1 departures disclosed and explained in the financial statements.. pr8P8re the financial statements on Ihe COrern basis unless it ts irkippropriale to presume that the Charity will nnue in business. The Trustees are responsible for keerAThJ ad8quat8 accountiry r8eAYds Ih8t ara sufv&gnt to Show and 8xplaln the Charivs transactions and disrjose vthh asOn8te accuracy at any tSme the financlal posttlon of the Charity and enable them ¢0 ensure that th8 finaTKyal stalements comply th the charib.es Act 2011, the Charity (Accounts and Rorts} RulatIOr 2008 and the provtsions of the Trust deed. They are also responsible for safeguarding the assets of the Charity and hence for lakirg reasonable steps fcf the prevention and detection of fraud 8nd other irregularities. Page 10
ROMFORD BAPTIST CHURCH TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Dlsclosure of SnfomMtl¢)n to audltors Each of the p8ts0ns who are Trustees at the time this Trust86s' Reprt Is approved has (nlm that.. so far as that Trustee is aware. ther8 is relevant audit inf0m18t)n of which the charitys auditors ar8 unaware, and that Trustee has tsken all the steps that ought to have been taken as a Trustee in order to be aware of any rdevant audit infomi8tion to establish thal the charW$ auditors are aware of that information. Audltorn The audhors, Venthams, have indiczted their wiliThJness to ())ntinue in olkn. The d8s3nated Trustses will propose a molM)n reappointirvj the auditors at a me8tlrvJ of the Tntstees. Appmv8d by order of the members of the board of Trust and signed on their beha]f by. HAY Trustee Dale: ILr_6-ZoZ Page11
ROMFORD BAPTIST CHURCH INDEPENDENT AUDITORS REPORT TO THE MEMBERS OF ROUFORD BAPTIST CHURCH Oplnlon We have aLKlited the financial statements of R0mfC 8aptist Church {the 'chariWI for the year eed 31 December 2023 which comprise the Stsiemenl of FInCIal ACtitieS, Ihe Balance Sheet, Stslement of Cash Flows and the related notes. induding a summary of signiffic2nt accounting policiès. Thè financial pOrtIng framework that has trn applied in their pyep8rati is applicable law 8nd Untted KInoM Acunting Standards, induding Flnancial Reporting Stsndard 102 Tr Financial Reporting Standard applrcable in the UK and Republic of Ireland, (United KlrKJdom G8neraltyAccepted AccountirvJ Pradicel. The financkgr ststements hav6 been prepared in aGr&danCe wth AccountirKJ and RepDrbrKJ by Chariti8S preparing their accounts in aordanCe wilh the Fala1 Reporting Stsndard5 applicable in Ihe UK ar Republic of Ireland (FRS 1021 in pr8férance to thè Accounting and Rep)rting by Ch8ribes'. Statement of Recommended Practice rssued on 1 April 2005 whlch Is refr1 to in the ex12nt regulaticS but h8s been %wthdrawn. This has been th)ne in der for the acwunts to WOVKle a true and fair view Wb aGran wth the Generally Accepted Accounting PrdCtKe effective for reFortirKJ peri trInnIng on or aft8r 1 Jarw 2015. In our opinion the financial statements= give a true and fair view of the stste of the charills affairs as al 31 Dxember 2023 and of its incoming resources and applicab.on ol resourcEs for the year th8n ended,. have been prOrIY prepareA in aC(rdan vrith United Kin9lom GeneTrlly Aepted A¢Uting Practice,. and have prepared In accl)lance 1h the requirements of the Charities Act 2011. Basls for opinion We condted our audit In accordance Inlern*ic¥wl Stsndards on ALvJMng (UK) {ISAs {UKI) and applicable law. Our responsibilib'es und8r thosè standards arè further de8cribgd in the Auditors, responsibilities for th8 8udit of th8 financial statements section of our report. We are ffKlependent of thg chaTtty In accordance the ethlcal requirements Ihat are relevant to our audit of the financial statements in the United Kingdom, inciuding the Financial Rewrting Ctyjncil's Ethical Stsndard. and we have fulfilled cur olher ethical responsibililies in acc4)rdance these requirements. We bve that th8 audli 8vidoKa wa have obtain8d is sufftCi8nt and appropriate to pn)vid8 a basis for our opin#)n. Condusions relatlng to golng con¢em In auditing the finants81 Slalements, we havè conduded that the Trustees, use of the goiro concern basis of aGeounting in the preparation of finanual stslements is appropriate. Based on the work we have perfomied. have r1 identified any wnaterial urKertainlies relating to events or conditions that, indiwdualty collectively, m8y cast significant doubt on the charlS ability to continue as a going concem for a period of at least Iwefve months from Ihe finan statements are authorised for issue. Our reswnsibilities and Ihe reSpSibIlI1es of ts Twslees vAlh pect lo ¢0M are d&scrlbed In the relevant S8Ctis Df this r8rKJrL Page 12
ROMFORO BAPTIST CHURCH INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF ROMFORD BAPTIST CHURCH ICONTINUED) Other Infomiatlon other irfom7alion comwses Ihe information in¢]ed in ts Annual Report other than the financlal statements and our Auditors, ReFQrt ther8on. The Trustees are responsitAe for the other information contained within the Annual RetKJrL Our opinion the financial stst8ments does not cover the oth8r infomiation and, except to th8 8Xtent olherwi%e exPlY stsl8d in our rewt. do not express 8nyform of assurance condusion thereon. Our responsibility is to r8ad the otlw infomiation a1, doing so, conslder wh8ther the otsr informatl¢Jn is mat8rially inconslstent with the finarKial stalements sx our kr&edge obtained in the course of the audiL or olhewAse appears to be rll8tetslty misstated. If w8 Nlentrfy such material InSistenc[eS apparent material misstatements, we are required to délemiine %thether this gNes ris8 to a material misstatement in the financS81 ststements Ihemselv8s. If. based on the )rk we rforrned. we condude that there is a materiol misstalemenl of thi8 other infomation, are rUired to repcyl that facL We have nothlvJ lo rep)rt in thi8 regwd. Mattars on whlch wa are required ¢0 report by exceptlon We have nothing to report in respect of the folbwng mattars kn tho Charitie5 (Accounts and Reports) Regulations 2008 requires us to reportto Jru if. in our otxnion= th8 information glven in the Trustees, Rewi is Inconsisi8nl in any malerial respect the financwl statements. or sufficient aCCCnng records have not en kept" or the firwncial ststem8nts are rKrt in agreement vAth lh8 acCtrY records and returns" or we have not receNe(l all the infom)ation and ewanations require for our aLlL Responslbllltles of trustees As explained more fulty in the Trustees, Reswnsibiiilies Statement, the Trustses are responsible for the preparation of the finanual stateTnonts whth give a ts and fair vw, and fc sl intemal control as the Trustees determine Is necessary to en8blè the preparation of ffinancF81 ststements Ihat 8re free from material mi5ststemenL whether due to fraud or error. In prepathg the financial stat8m8nts. Ihe TnleeS ar8 resFonsib18 for assessing th8 charitys abilty lo continue as a going concem, dis¢loslng, as apIcable. matters rdated to going rnrn and using the going concem basis of accounttrwj unless the Tru51ees either intend to liquidate the charty or lo cease operations. or hav8 no re81istic 8lt8mative but to do so. Page 13
ROMFORD BAPTIST CHURCH INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF ROMFORD BAPTIST CHURCH ICONTINUEDI Audltors. rnsponslbllllSes forthe 8udh of th• Ilnand81 statorn We have been appoint 88 auditor under sectk)n 144 of the Charrttes Act 2011 and report in cOrdan with the Act and relevant regulations made or haVj effecl Ihereunder. Our objethes are to obtain r8asonab18 assurw about ether financkql ststsments es a who18 ar8 fr88 from material misstalement. ether duo to fraud or errDf. 8rKi lo Issue an AudilL>rs' Report that Indudes our opinion. Reason8Na 8ssur8nrA is 8 high of asSur8r. but Is not a guarantee that an audit conducted in accordance wFth ISAS (UK) wll ahvays detect a material misstatement vthen il eSts. Mi5slatements cari arise from frawj or error and are considered materd if, 1rklividuty or in the aggregate, they could reasonably be expected to inffluen the economic de¢i%ions of users laken on the basis of these financial statements. lffegularities. induding fraud, are instsnces of non-compAiarKe with laws and regulali¢Jns. We desSgn procedure8 in line with our respolbIlItres, ouVird above, to deted material misstatsments in respect of irregu18riti8S, including fraud. The extent lo %thlch our prlureS are capable of detsding irreguLaThties. including fraud Is delalled below.- Based on our discussions thè ch8ritys managem1 and tre Ttuslées, we identifi8d that th8 followng laws 2nd regulations are signrficant lo the entiiy. • Those laws and regulalons cortsvjered to have a eff1 on Ihe finanaal statements Irlude UK financial repOrknj standards and Charity Law. . Those Jaws and regulations for vknk nOrpIlan(% may b8 fundam8nlal to the 0ratIng asp8cts of th8 charity and ther&forÈ may have 8 materfal effect on the flnanclal statements Indude compllance urith the charilable objectives, puLlic benefiL furKlrai8ing regulab"ons. &eguardIng and health and safety legislatK)n. These matters ere discussed amongst the ertsJaJempt le8m * the planning sb3e and the team remained alert to non-compliance thrOugJut the audiL Audtt proc8dur8S UtKlert8ken in response to Ihe pjtenlial rfsks relatlng to INegtharMes {which Include fraud 8nd non-wmpllanc6 vAth laws and regulatK)nsl cC¥nwed of. enquries of mar)agemenl and the Trustees as to 8lh8r the entity complies wth such laws and regulatK)ns'. enquiries with the som8 concerning any actual or potenllal litsgation or daims: inspxtion of relevant key risk assessments and inspection reports,. review of Trustee meeting minutes,. testing the appropri81eness ofioumd entw" 8MI the perfomiance of 8nalytical review to idenlrfy unexpected movements in acuunl baiances %thich may be indicative of fraud. No instances of material non-c0mp1iare were trdentif. Fk)wever, the l*elikJod of delecting irregularities. including fraud, is limitsd by the inherent rffiIty in (letecting irregularths, tt)e effectiveness of the entitqs controls. a1 Ihg naiure, timing and extenl of the audrt prLKedures performed. Irregularities that result from frautl might be inherenly more dmcult to detect than irregularities that result from error. As explained above. there Is an unavoidable risk that material misstal8m8nts may not b8 d8t8Ct8d, 8v8n though th8 audtt has b88n planned and perfomied in accordance ISAS IUK). A ftJrth8r descriptK)n of our responsibilities for the att of the financ1 statements is located on the Financi81 Reportlng Council's website atr. ww.frc.o .uk1altorsreS ibilthes. This description forms part of our Auditors, Report. P14
ROMFORD BAPTIST CHURCH INDEPENDEMf AUDITORS. REPORT TO THE MEMBERS OF ROUFORD BAPTIST CHURCH ICONTINUED) Us8 of our report This rewrt is made sol8ty ID Ihe tharitl5 tnjstees. as a ithy, In accordance with P8rt 4 of th8 Charities (Accounts and Reports} ReguLgtions 2008. Our audil vh)rk has been undertaken so thal we m*3ht stsle to the charitys trustees those matters we aro required to stste to th8m in an Audilors. Report and for no other purpose. To the fullest extent pemirtted by law, we do not acpt or assume reSFonsibility lo anyone other than th8 char and its trustees. as a y, for our audit Irk, for this rephNt, or for th8 OPHnions have fcmed. V•nthams Chartered Accountants ststutory Autditor Millhouse 32 . 38 East Streel Rochford Essex SS4 1DB Data.. 17 June 2024 Venthams ar6 eligible to act as audilors in temis of seclicn 1212 of the CLNnpanth Act 2006. Page 15
ROMFORD BAPTIST CHURCH STATEMENT OF FINANCIAL ACTNITIES FOR THEYEAR ENDED 31 DECEPIBER 2023 Unrestricted Re8trl¢tad funds funds 2023 2023 Total funds 2023 Total fvnds 2022 Note Incom¢ from: Donations and legacies Charitable activities 264.960 235,923 38.687 9Crf) 265.860 235.923 3B,687 248,995 150. 113 15,813 Investments Totsl Income 539.570 900 540.470 415,681 Expendllure on: Charhable aclvllies 485A57 486,701 465,381 Total expendlture 485,85r 486.701 465,381 Net movement In funds 53.713 53,769 (49,800) R8conclllatlon of funds: Totsl fvnds bght fornvard Nal movement in funds 7.%1.898 53,713 7.624.967 53.769 7,674. 767 (49,800) Total funds carried forAord 7,615,611 64125 7,678,736 7,624,967 Page 16
ROMFORD BAPTIST CHURCH BALANCE SHE FOR THE YEAR ENDED 31 DECEMBER 2023 X123 2022 Note Flxed assets Tangible assets 12 6,810.588 6. T89,992 6,810,588 6,789,992 Current Ossats Stocks Dèbt¢)rs Cash at bank and in harKI 13 14 627 692 19,613 838,276 20,189 864.938 885,754 858,581 Creditors.. amounts faling due within one year 15 {17,606) (23,606) Net current assets 868,148 834,9T5 Totsl assets less cUrrt Ilablllll•s 7.678.736 7,624,967 Total nat assets 7,678,7 7,624.967 Charfty funds Restricted funds Unrestrict1 fuNIs 16 16 63,125 7.615,611 63.069 7.561,898 Total funds 7.678,736 7,624,967 The financial statements were approved and aUthorisl for issue by the Trustee5 and signed on their behalf by. H Ayrls Trustee Date.. Ilk-6-l(fZ+ PAge 17
ROMFORD BAPTIST CHURCH STATEMEKf OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2023 2023 2022 Cash flows from operatTng activities Net cash us8d in Op8ratir activiti8S 62,415 (31.57T) Cash flows from Invesllng actlvltl8s Purchase 0ftsngIb T8d assets {35.753) (8,22t) Net cash used in investing a¢tlvlYos {35,753} 18,221) Cash fiow9 from flnanclng xtlvltles Net cash provlded by financing athibes Change In Cash and ¢8gh oqulvalents In the year Cash and cash equiydlents at the beginning of the ye8r 26,682 (39,798) 8T8,OT4 838276 Cash and cash equivalents at the end of the year 864,938 838,276 Page 18
ROMFORD BAFnsT CHURCH NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Genernl Informatlon The charty was establlshed as a CIO on 29 March 2017 and VRS registered with the Charity Commission under charity number 1172326. The charity e£4nmenced trading in 1 June 2018 foHowng the transfer of the assets of Romford Bapttst Church an unincorporated charrty. ountlng pollc1•5 2.1 Basls of pr8paratlon of flnancial stalémènts Tr rinan¢k81 stalèments have been Prepar in accordance wth the Charities SORP IFRS 1021- Acenunling and Reportiw by Charities: Statement of RecOmrnered Pradice applicable to charities F)reparing their accounts in ardance the Fina7 Reporting Standard applicable in the UK and Republr of Irdand {FRS 1021 (effecbve 1 January 20191. Ihe Financial Reporting sIdard appluble in th8 UK and Republr of Ireland (FRS 1021 and th8 Charitie5 Act 2011. The financial ststerrhents have been prepared to gfve a Irue arKI fairf wew antj have dep8rted from the Charities (Accounts and Reports} Regulalions 2008 only to the exlenl required lo PrOe 8 and fall view. This departure has invofved folkmng the Chartbe5 SORP (FRS 102) published in October 2019 rather than th8 Ac£nting and Rewrting by Charities: Stst8ment of Recommended Prac effectivo from 1 April 2¢Y)5 Ithich has sIe been wlthdr8wn. Romford Baptist Church meets the definthon of a publ benefft enwty under FRS 102. As58ls and liabilities are Initial rec(wJnis&J at histo cosl or tr8nsaction Wdlue unless othemse stated in the rdewdnt 8ccnunting polry. 2.2 Golng concern There are no mal8rial uncertainties regèrdiry the Ltharws abilty to wntinue. Therefor8 the accounts are prepared on a going (X)rrn basis. 2.3 Incom• l income is recogni once the Charity has èntitlemenl to the income, il is probable thet the income wdl b8 received and the amnt of income receNable can be rneasured reliabty. Income tax recoverable in reLgtion to investment income is reccgnised al the time the Invostment Inrne Is receivable. 2.4 EXpdIlure Expendiknre recognised once there i8 8 legal or constructive obligation lo transfer economic ben8frt to o third p8ty, il is probable that a transfer of economic benefts %wll be required in settlement and th8 amourrt of the obligation can be measured reliatJy. Expendiiure is dassffied by activity. The costs of each actiwty are made up of the totsl of direct C(k8ts and shared costs. induding support costs Involved in undertaklng each actiwty. Direct ¢J)sls attrknutabl8 to a skngle xtwity are alocated dSreclly to that acuvity. Shared costs whKh C¢trijte to more Ihan one activity and support costs whlch are rK)t attributable to a single activity ar8 apprKironwJ belMEen thosé aCtive$ on a basis con51slent th the use of resources. Cèntral staff cosls a alkxaled on the basis of time $ponL and depreciaon tharges allted on the wrtion ofthe asset's use. Expendrture on charitable adrvrtie5 is incurred on dwecty urwjertaking the activities which further the Charitys objectives. as 11 as any associated support costs. Page 19
ROMFORD BAvnsT CHURCH NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Accountlng poll¢l•s {¢onllnuad) 2.4 Expendlturo (contlnued) Grants paydble are charged in the year vthen the offer is made except in those cases where the offer is c(ditIOn. such grants being rec(NJnised as expenditure when the conditions attaching are fvffilled. Grants Offed subject to ¢ditionS which hav8 nol b8en m81 al th& yoar end aro noted as a ccrfnmilment, bul not accnHJ as expenditure. l expendibjre Is Irthfve of Irreo)verable VAT. 2.5 Int•rest r•ceivabl• Interest on funds held on de[rt is induded when recvabie and the amount can be measured reliably by the Charity" thts is normalty upon r)lifatIon of the interest paid or payable by the InstEtution th whom the funds are d8POSited. 2.6 Tanglble flxed assats and deprnckntlon T8rgible fixed assets are ir4ti8lly recogni8ed at cost After recognition. under the cost model, tangible fixed assets are measLwed at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a taTrJible fixed asset into ris intended wothing condition should b8 included in the measwement of cosL Depreclation Is charg8d so as lo allal8 the cost of tanLlbie flxed assets k8SS thelr r8sldual value over their esllmated useful INes. . Depreciation is promded on the fdbMrvJ bas&8: Freehold prr¥J8rty - propety not deprecrdled, r1 V•tirs str3ighl Ilne 10 YE5 LonterM leasehold property Flxture5 and ffith'ngs - straNJht 3 to 5 years 2.7 Stocks Stocks are valL*d at the Wer of cost net realisable Vdlue after making du8 alloswdnce for obsolets and slow•moving stcth. Cost IndeS all dtrecl costs aTrJ an appropriate propOrt)n of fixed and variable overheads. 2.8 Debtors Trade and other debtors are rec(onised at the seluement amount after any trade disCnt offere(l. Prep8ym8nts are valued at th8 SmnI prepaKI nel of any trade di9Unts due. 2.9 Cash at bank and In hand Cash at bank a1 in hand includes cash a4 sl-teM highly liquid investments with a short maturity of three months or from the date of aLY4UiStbon LY openirwJ of the deposit or similar acwunt. P8g8 20
ROMFORD BAFfisT CHURCH NOTES TO THE FTNANCLAL sTATEmEPs FOR THE YEAR ENDED 31 DECEMBER 2023 Accountlng polkles (contlnued) 2.10 Liabilities and provisions Liabililies are reccgnised vthen trwe is an cligation al Ihe Balance Sheet date as 8 result of 8 pasl event, it is probable that a transfer of ecCMm ben8frt will be required in settlement. and the amount of the settlement can be estimated relkgbly. Liabilities are recognised at the amwnt that Ihe Charity antidpatas M wlll pay to settle the debt or th8 amount it has rvL8N8d as fvancert p2yTh8nts for th8 gcths or services rt must provmlg. PrOlS1Ong are measured at the best estim8te of the 8mwnts rèquir8d to settle the obligation. Where the effect of the time value of money is material. the provision Is bas on the present V81ue of those amounts, disccrtjnted at the F&tax (thsrxiunt rate that reflects the r¢5ks specific tu the liability. The unwinding of the disclnI is rBwgnised in fhe Stslement of Finoncial Activities as a finance cost. 111 Financlal Instruments The Charty has financial assets and fnancial Irabilthes of a kind that qualfy as basic fin8nci81 instruments. Basic financial instruments Bre initialty récA>Jnised al transaction value and sub8equ8ntly measured al thelr settlerTTrent value Vth the exception of bank loons which are subsequent meayjred al 8mortised cost using thè effective interest method. 2.12 Pénsions Th8 Charity Dp8rat&S 8 defir*d conlribubon p8nsK)n 8dme and the pertsran tharge represents th8 amounts payable bylhe Charityto the fu1 In respect of the year. 2.13 Fund accounling General funds are unr&StrI& fvThJs 1¢h are awlalAe for us8 at the discretion of the Trustees in further8nce of the gener81 obiectrves of the Charity aMJ uthich have nol been designated for other purposes. Designated fv$ ¢lse unwlricled fvnds that have been set ashde by the Trustees for p8rticulAr purpos&s. Th8 aim use of exh d&signatÈd fund set out in the notes to the financlal stslements. ReStrted furkys are fvnds whith are lo be usgJ in acoydance wilh speufK restCtIonS imposed by donors or which h8ve been raised by the Charity for particular purrh)ses. The costs of raising and adrnlnlsterkng such fvnds are charged against the SpefiC furKI. The aim and use of each restdcted fund is sel out in the notes to the finanaal statements. Investment income, gains and losses are alkncat&J lo the appropriate fund. Page 21
ROMFORD 81ST CHURCH NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Incorne from donatlons and ltyaclos Unrestrlcted Restricted fund5 funds 2023 2023 Total funds 2023 Totsl fvnds 2022 DaltonS 264.960 265,860 248.995 Tolal 2022 248.995 248,995 Income from charltable 8ctMtles Unrostrkted funds 2023 Total funds 2023 Tot81 funds 2022 Income from charitable xbvitses- Church 235,923 235,923 150,773 Total 2C 150, 773 150, 773 Invastmant Income Unrestricted funds Totsl funds 2023 Total funds 2022 Inv8Stment incom8- hcal investment PTr)P8rties Investment income- Ial cash 19.778 18,9CQ 19,778 18,909 10,325 5,488 38,687 38.687 15,813 Totsl 2022 15,813 15.813 Page 22
ROMFORD BAPTIST CHURCH NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEklBER 2023 Analy81s of grnnts Grants to Institutlons 2023 Total funds 2023 Total funds 2022 Grants, Church 7,5 7,500 13,050 Tol812022 13,05) 13,050 The Charity has m8de the folltming mtsi* grants to inslitrrtions durirvJ the year. 2023 2022 Name of In5tltutlons Graceworks Baptist Union Home MIssi¢)n BMS World Mission Operation Mobilisalion Winter Gardens Baplisl Church 2.DOO {7.500) 11.000 1.800 10.250 1,000 2,01)0 7.500 13,050 Analysis ol •xpondlture on charitable actlvhbes Summary by fund ty Unr•stricted Restrlcted funds lund5 2023 Total 2023 Total 2022 Churth 485,857 486,701 465,381 Total 2022 465,178 205 465,381 pa 23
ROMFORD BAFfisT CHURCH NOTES TO THE FINANCIAL STATEUENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Analy818 of èxpondlture by acthiitles Grant funding of activities 20rJ undertaken directly 2023 Support Total funds 2023 Totsl fvnds 2022 2023 Church 304.761 7.500 174.440 486,701 465,381 Tot812022 299.316 13.050 153,015 465,381 Anatysls of dlract costs Total funds 2023 Total fvnds 2022 Church 2023 Stsff costs Church houskng expenses Travel Other MlSterIal costs Mission and outreach 209.853 19.886 1.031 6.649 67.342 209.853 19,886 1,031 208.344 38.252 766 9,980 41,974 67.342 304.761 304,761 299,316 Total 2022 299,316 299.316 Page 24
ROMFORD BAPTIST CHURCH NOTES TO THE FINANCIAL STATEAIENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Analysls of oxpendltum by aclfvltles (Gontlnued) Analysls of support costs Total funds 2023 Tot81 fvnds 2022 Church 2023 Stsff costs Depreaati Church premises Church (rffi expens85 Auditors. remuneration Lagal fees 39,228 15.157 69,793 40.628 7,632 2,2 39.228 15,157 69,793 40,628 7,632 1002 39,769 20.936 40, 142 38,042 7,170 6.956 174.440 174,440 153,015 Totsl 2022 153.015 153,015 AuditOf5' Temuneratlon The auditors. rgmuneralion amounts to an aJitor fee of £7,524 (2022- £7, 170), and accountancy of £ - {2022- £ -1. 10. Staff $ts 2023 2022 Wages and salaries Soryal s8curity costs contributi lo defined LxintriLMrtion pensitm 9dmeS 217,573 10.914 20,594 212,822 11,549 23,742 249.081 248, 113 The av8we number of pers(Mk8 ernp by the Charity durirvJ the year was as folbws: 2023 No. 2022 Employees 14 13 No 8mployee r8C8fved remuneration amtwnting to mL*e than £60,CMJO In ellher year. Page 25
ROMFORD BAPTIST CHURCH NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 l. Trustees. stlpend and expenses DuriTrJ Ihe year. salaries have been patd lo Rev l Bunce £43.559 (2022: £39,780). Rev V Bunce £31,800 12022.. £29,73018nd Rev J Love8rd £22,470 {2022.. £20,489), for ministerial sem. Employers pengion ContriLon5 totdling £14,822 (2022.. £14.8221 paKI on 1r behatrt. Included in the aty)ve salaries are expenses totslliNJ £7,895 {2022.' £6,358) lch were rermbued or paid directly lo 3 Trustees. 12. Tanglblè Ilxed assets Long-tern) leasehold Flxturns and property tlngs Freahold property Total Cost or valuation Al 1 January 2023 Addition8 6,577,314 10.956 188.000 125,023 24.797 6,890,337 35,753 At 31 December 2023 6,588270 188,000 149,820 926,090 Dèpreciation At l January 2023 Charge for tt)e year 100,345 14,061 100,345 15,157 At 31 December 2023 114,406 115.502 Net book value At 31 December 2023 6.587.174 188.000 35A14 6.B10,588 At 31 December 2022 6.577,314 188,000 24,678 6,789,992 13. Stocks 2023 2022 Raw materials and consumables 692 Page 26
ROMFORD BAPTIST CHURCH NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 14. Debtors 2023 2022 Due within ono year Trade debtlys other debtfNS PrepayTnents and acxyued income 3,759 10.873 595 12,899 6,119 20.189 19,613 15. CredltOT5: Amounts falllng du• wlihln one year 2023 2022 Trade credito other taxation and soe4818ecuiTty Accruals and deferred intsjm &B67 215 7,524 12,433 4,003 7,170 17,606 23,606 Page 27
ROMFORD BAPTIST CHURCH NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEAfjBER 2023 16. Stat•ment of funds Statement of funds- current year Balance at 31 Transf¢rs December Inlout 2023 Balance at 1 January 2023 Income Expendllu Vnre8trlcted funds Designated funds FIx8d ass8t fund ContirKJency fund Junction Rowj Parent ar¥J Toddler Group 789.992 20,596 6,810,588 68,090 45.170 2.837 44170 3.069 4546 (47781 906.321 {4,778) 20,596 6,926,68S General funds General furKI Auxllliaries fund Church 9roup actiwtyfunds 632,552 4689 {455.235) {20A96) 622.410 7,789 58.727 1&236 (25.844} 535.024 1481,0791 {20,5961 688,926 Total Unrestricted funds 7,561.898 539.570 (485.85n 7,615,611 Rastrlctad funds Benevolent Fund Future pro1 fund Jack Petchey Fund 252 0.000 1817 60,000 1873 900 {8441 63,125 Total of funds 7.624.967 540.470 {486,701) 7,678,736 Page 28
ROMFORD BAPTIST CHURCH NOTES TO THE FtNANCiAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 16. Statemort of funds {contlnued) Statement of funds - prfor year B81gnce 81 31 December 2022 B818nc8 al l January 2022 Transfers In/ou£ Income EKpen(fifure Unre8tricted funds Deslgnated funds Fixed 85set fur ConliThJeryfUnd Junction Road Parenl and TOddr Group &802.707 f12,715) 6.789,992 68,090 45.170 3,069 45.170 &387 (1318) 6,9t5,967 6,387 (3,318) f12.715) 6,906,321 Gonerol fund8 General fund Auxiliaiies fund Church group actsvlty funds 675,271 7,789 12,022 389,974 (4,588) 20,895 632,552 7,789 15,236 19.220 (8,272) (7.734) 695.082 409.194 (461.860) 13.761 655.577 Total Unrestrfcted fundB 7.611.049 415.581 (465, 178) 7,561,898 Restrfctod funds Benevolent Fund Future wojecl fund Energise fund J8ck Pelchey FUNI 252 252 (446) 3,020 (203) 2,817 63,718 (203J (446J 63.069 Total of funds 7.674,767 415.581 (465,381) 7,624,967 Page 29
ROMFORD BAPTIST CHURCH NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 17. Summary of lunds Summary ot lunds- curr•nt year Balance at 31 December 2023 Balance at 1 January 2D23 Transfers Inlout Income Expendltur• Designated funds General funds Restcted funds 6.904321 655,5TI 63.069 {4,7781 (481.079) <844) 20.596 (20.5961 6.926.685 688.926 63.125 S35.024 7.624967 540.470 1486.7011 7,678,736 Summary of funds - prfor y•or Balance al 31 Belan al 1 JBnuary 2022 Trnnsfers Dernber in/Dut 2022 Designated funds General funds Restricted funds 6,915.967 69&082 63.718 6,387 409.194 (3.318) (461,860) (203) (12,715) 6,906,321 13,161 655,577 (446J 63,069 7,674,767 415,581 (465,381) 7.624.967 18. Analysls of net assets b8hv•8n funds Anatysls of net assets between funds- currant y•ar Unr•strlct8d Restricted funds funds 2023 2023 Total funds 2023 Tanglb18 fix8d assets Current assets Credikws due yEar 6.810.588 822.629 (l7,6C) 0.810.588 885.754 (17.6061 63,125 Tatsl 7.615,611 63,125 7,678,736 Page 30
ROMFORD BAPTIST CHURCH NOTES TO THE FINANCL4L STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 18. Analysls of net asséts bètw••n fvnds (conllnued) An•lysls of net assets between funds - prlor year Unrpsthcted ReStrted fund8 tunds 2022 2022 Tot81 ftinds 2022 Tanglble fixad assets Current assets Credit5 due within one aT 6,789,992 795,512 (23,$06J 6,789.992 858.581 (23,606J Tctal 7.561,898 63,069 7.624,967 19. Reconclll8tlon of not mov6m•nt In funds lo not cash flow from operatlng actlvltles 2023 2022 N81 Inwm&18xpenditure for the r {as p8r Statement of Financ1 Activities) 53,789 (49.800) AdJustm8nts for Depreci8tion charges Decreasellincfease) in stocks Increase in d8btors In¢reaselldecre3s8) in creditor3 15,157 20.936 1692) (3,939) 1,918 15761 (6,orA>i Nét cash provtded byl{used In) operatlng aGll¥llie5 62.415 (31.577) 20. Analysis of cash and ¢a$h equlvalents 2023 2022 Cash in harKI 864.938 838,276 Total cash and cash equlvalents 864,938 838,276 Page 31
ROMFORD BAIYIST CHURCH NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 21. Analysls of changes In net debt At31 December 2023 January 2023 Cash flo* Cash at bank and in hand 838,276 21662 864,938 838.276 26.662 864,938 22. Penslon commltments The tharity operates a defined contrknubon pensiorb scheme. The assets of the scheme are held Separate from those of the charity tn an independentty administ8red fund. The pension cost tharge represents conlribulions payable bythe ¢harrty lo the ftjnd amounted lo £20,59412022.' £23.7421. Related party transadlons During the year. inccyne of £68,500 {2022.' £64.tXM)I was received from Romford Baptist Church Housing ACIation Limit8d, 8 charity undèr Common cmtrol, in r88p8cl of pastor81 services. During th8 year payments of £2320012022: 23.200) were made to Romford Baptist Church HousSng Association LlrNtted in respect of bo)k-keeping and premBes management. At the balance sheet dats £116 {2022.. £2351 was receivable frLMn RBCHA and inctudgj wilhin trode debtors and £4.169 (2022.. £4.0031 was payable to RBCHA and is induded thin tra18 cr8dilors. 24. Post b•lance sheet events The Harold Hill rnanse ojrrenty being hdd by Romford Baplist Church is most Ikew to be transferred to the EBA and the BUGB at th8 histr)ric valu8 of it W8s brought into th8 RBC books at some pc>int in 2024. Page 32