2023-04-05-accounts

Canterbury Baptist Church CIO

Unaudited Financial Statements

5 April 2023

CHARITY REGISTRATION NUMBER: 1179894

Canterbury Baptist Church CIO

Financial Statements

Year ended 5 April 2023

	Page
Trustees' annual report	1
Independent examiner's report to the trustees	7
Statement of financial activities	8
Statement of financial position	9
Notes to the financial statements	10
The following pages do not form part of the financial	statements
Detailed statement of financial activities	24

Canterbury Baptist Church CIO

Trustees' Annual Report

Year ended 5 April 2023

The trustees present their report and the unaudited financial statements of the charity for the year ended 5 April 2023.

Reference and administrative details

Registered charity name Canterbury Baptist Church CIO

Charity registration number 1179894

Principal office Canterbury Baptist Church St. Georges Place Canterbury CT1 1UT United Kingdom

The trustees

Mr J M Coode Mr PR Enever Ms B Strause-Kalmere Ms M Anderson Mr J Reece Ms D Fox Mr F Asante Mr J Haddock Rev L A Barrs (appointed 1 January 2024)

Independent examiner

James Leeves FCA Shapes The Buttery Highland Court Farm, Bridge Canterbury Kent CT4 5HW

1

Canterbury Baptist Church CIO

Trustees' Annual Report (continued)

Year ended 5 April 2023

Structure, governance and management

The Trust is a registered charity, number 1179894, and is constituted under the constitution dated 29 April 2018. The Trust is a Baptist church, affiliated to the Baptist Union of Great Britain (BUGB) and the South Eastern Baptist association.

Nearly all of the funding of the church is derived from the voluntary contributions of members and others who attend church activities. Other sources of income include the hire of the premises to outside bodies, certain grants made to the church for specific activities, and the claiming of Gift Aid for charitable giving.

The constitution of the church is derived from the Approved Governing Document for BUGB churches dated 20th March 2008. Under this constitution, the trustees comprise the minister or ministers (if any), together with elders, the church secretary and church treasurer. Ministers, having been appointed by a vote of church members at a special church members' meeting, are ex officio trustees, and are remunerated by the church. No other trustee is remunerated; elders, the church secretary and church treasurer are elected by church members at an ordinary church members' meeting from among the membership, and serve a three-year term of office, after which they are available for re-election. There is a maximum of 12 and a minimum number of three trustees specified by the constitution, but in practice in recent years the number of trustees at any one time has varied between six and eleven.

Trustees' meetings are typically monthly 'ministry' meetings. A wide range of issues are discussed, including the strategy and vision of the church, the running of church activities, the maintenance of the church premises, the appointment of staff and financial matters. Important decisions are referred to church members' meetings, held at least four times per year. Members' meetings take decisions on such matters as church membership, the appointment of ministers and other trustees, and the approval of the church budget.

Objectives and activities

Canterbury Baptist Church has a vision summarised by the main aim: 'To worship God, to grow in Him and to take the life changing message of Jesus Christ to all with the goal that they become His loyal followers.'

The outworking of this vision is based on six core values, taken from the example for church in the New Testament church at Antioch with the following objectives:

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Canterbury Baptist Church CIO

Trustees' Annual Report (continued)

Year ended 5 April 2023

1. To be shaped by God's Word and Spirit to be distinctively Christian.

2. To have a clear commitment to Bible teaching, prophecy and prayer offering authentic spirituality and expression of worship.

3. To train and send individuals for Christian life, ministries and other strategic mission.

4. To have a truly generous and gracious attitude towards the needs of others.

5. To anticipate the fullness of God's kingdom with ethnic diversity, worshipping together as one gathered community.

6. To spread the gospel wherever God has placed us to encourage and see growth.

As part of the church's objectives, a vision has been established to use the church buildings as a community hub and base for social action and community work within the city of Canterbury. Therefore, the church regularly provides free and subsidised use of its building to local charities and organisations carrying out work with local people in the community. Whilst there are cost implications of this (including fuel, wear and tear, loss of potential letting income etc), this is recognised as a key part of the church's vision and values.

Achievements and performance

In practice, the mission of the church is loosely divided into five areas (with significant overlap):

Preaching the Word and Discipleship

Sung Worship and Prayer

Children and Youth Work

Local and Overseas Mission

Community Building

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Canterbury Baptist Church CIO

Trustees' Annual Report (continued)

Year ended 5 April 2023

Preaching the Word and Discipleship

Every Sunday morning we are committed to opening the Bible and unpacking, in a faithful and relevant way, the message God has given. Apart from Sunday morning, time is taken during the week to explore Scripture in small groups that meet in several different contexts, and special discipleship meetings for those interested in ministry or greater personal and spiritual development.

Sung Worship and Prayer

We seek to continue the Christian tradition of singing songs to God as an act of worship. We aim to maintain a balance between old and new to allow all generations and ethnicities to sing their praises to God. A faithful prayer team underpins all ministry activities, but especially during the morning service where opportunities for individual prayer are offered to all in attendance.

Children and Youth Work

As part of a Christian community, we dedicate ourselves to witnessing our faith well to our children and youth in the hope that one day they will be able to choose Jesus for themselves. We, therefore, structure our children’s work, based on age and ability, to help our children discover more about Christianity and develop their personal faith. We continue our work outside of the morning services with seasonal celebrations, and will shortly begin a youth club.

Local and Overseas Mission

Having been blessed by God, we seek to become a blessing for others. This value takes different forms based upon individual circumstances, but as a church, we serve on both a local and overseas level:

Locally we organise a hub that runs on Thursday and Friday afternoons, with the express focus of practically serving those who are financially struggling or suffer with their mental health. On Thursdays, we distribute food parcels through our community fridge. We have a team of volunteers who receive food deliveries, pack, distribute and deliver them in the Canterbury and Herne Bay areas.

4

Canterbury Baptist Church CIO

Trustees' Annual Report (continued)

Year ended 5 April 2023

The food is primarily supplied by FareShare Kent which distributes surplus food from supermarkets to charities. The cost of this is mostly covered by various grants that have been obtained. The church buildings are understood to be used as a base for social action and community work within the city of Canterbury. As such, the church regularly provides free and subsidised use of its building to local charities and organisations carrying out work with local people in the community. Whilst there are cost implications of this (including fuel, wear and tear, loss of potential letting income etc.), this is recognised as a key part of the church's vision and values.

Overseas mission primarily focuses upon the financial and prayerful support of several charitable organisations that work abroad. We are especially interested in furthering our links with the African Pastors’ Fellowship, Baptist Missionary Society, Christian Aid and several individuals that we support. Through the work of Friends International, we are pleased to support many of the foreign students who come to study in Canterbury, as well as refugees and others who seek to find a home.

Community Building

Family is a key component of Christian living and is not decided by birth, but instead by a shared faith in Jesus. For this reason, we look to build the church community to create and maintain unity, partnership, and family relationships. This value is seen through the importance we place upon pastoral care in the community, where visits from the Minister and supporting pastoral team can be expected. Our Small Groups provide opportunities for regular community support and growth. The lunches we hold, both for the church as a whole community and for students, seek to create opportunities for relationships to begin and deepen. Various activities are also organised each month with a special focus on the elderly, including Eagle’s Wings and Lunch Club. We desire that no member of our community feels alone and that together we might support one another and share life.

Financial review

The net value of the assets and liabilities of Canterbury Baptist Church have been recognised on the Balance Sheet. The value of net assets as at 5 April 2023 amounts to £1,734,149 (2022: £1,646,352).

During the year the the church generated a surplus £87,797 (2022: £45,726). A further adjustment was made to revaluate the listed investments of resulting in additional expenditure of £584 (2022: £1,074).

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Canterbury Baptist Church CIO

Trustees' Annual Report (continued)

Year ended 5 April 2023

Within the surplus a one of adjustment relating to the former Baptist Union Defined Benefit Pension Scheme of £71,535 was recognised. Efforts have been made over the years by the Baptist Union to eliminate the historic liability relating to this scheme and in July 2022 it was confirmed that the church has no ongoing commitment or liability relating to the scheme.

The trustees' annual report was approved on 17 March 2024 and signed on behalf of the board of trustees by:

Jason Reece (Mar 22, 2024 13:47 GMT)

Mr J Reece

Trustee

6

Canterbury Baptist Church CIO

Independent Examiner's Report to the Trustees of Canterbury Baptist

Church CIO

Year ended 5 April 2023

I report to the trustees on my examination of the financial statements of Canterbury Baptist Church CIO ('the charity') for the year ended 5 April 2023.

Responsibilities 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 (‘the Act’).

I report in respect of my examination of the charity's financial statements carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner's statement

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

1. accounting records were not kept in respect of the charity as required by section 130 of the Act;

or

1. the financial statements do not accord with those records; or

2. the financial statements do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts 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 in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

james leeves

james leeves (Mar 22, 2024 13:59 GMT)

James Leeves FCA

Independent Examiner

The Buttery

Highland Court Farm, Bridge Canterbury Kent CT4 5HW

22 March 2024

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Canterbury Baptist Church CIO

Statement of Financial Activities

Year ended 5 April 2023

		2023	2023	2023	2022
		Unrestricted	Restricted	Total	Total
		funds	Funds	funds	funds
					(restated)
Income and endowments	Note	£	£	£	£
Donations, legacies & grant income	4	111,131	52,526	163,657	174,129
Investment income	5	47,375	372	47,747	37,201
Total income		158,506	52,898	211,404	211,330
Expenditure
Expenditure on charitable activities	6	180,461	14,097	194,558	164,550
Total expenditure		180,461	14,097	194,558	164,550
Exceptional income	7	71,535	-	71,535	-
Net (losses)/gains on investments	8	-	(584)	(584)	(1,054)
Transfers between funds		36,027	(36,027)	-	-
Net income and net movement in funds		85,607	2,190	87,797	45,726
Reconciliation of funds
Total funds brought forward		1,633,101	13,251	1,646,352	1,600,626
Total funds carried forward		1,718,708	15,441	**1,734,149 **	1,646,352

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

The notes on pages 10 to 22 form part of these financial statements.

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Canterbury Baptist Church CIO

Statement of Financial Position

5 April 2023

		2023	2023	2023	2022
		Unrestricted	Restricted	Total	(restated)
		funds	funds	funds	Total
					funds
Fixed assets	Note	£	£	£	£
Tangible fixed assets	12	1,701,277	-	1,701,277	1,724,477
Investments	13	-	12,667	12,667	13,251
		1,701,277	12,667	1,713,944	1,737,728
Current assets
Debtors	14	5,013	-	5,013	2,614
Cash at bank and in hand	15	49,292	2,774	52,066	69,519
		54,305	2,774	57,079	72,133
Creditors: amounts falling due within one	16	36,874	-	36,874	62,537
year
Net current assets		17,431	2,774	20,205	9,596
Total assets less current liabilities		1,718,708	15,441	1,734,149	1,747,324
Creditors: amounts falling due after more than one year	17	-	-	-	27,953
Provisions	18	-	-	-	73,019
Net assets		1,718,708	15,441	1,734,149	1,646,352
Funds of the charity
Unrestricted funds		1,718,708	-	1,718,708	1,633,101
Restricted funds		-	15,441	15,441	13,251
Total charity funds	20	1,718,708	15,441	1,734,149	1,646,352

These financial statements were approved by the board of trustees and authorised for issue on 17 March 2024, and are signed on behalf of the Trustees by:

Jason Reece (Mar 22, 2024 13:47 GMT)

Mr J Reece Trustee

The notes on pages 10 to 22 form part of these financial statements.

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Canterbury Baptist Church CIO

Notes to the Financial Statements

Year ended 5 April 2023

1. General information

The charity is a public benefit entity and a registered charity in England and Wales, registration number 1179894. The address of the principal office is Canterbury Baptist Church, St Georges Place, Canterbury, CT1 1UT, United Kingdom.

2. Statement of compliance

These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the 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) (Charities SORP (FRS 102)) and the Charities Act 2011.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

There are no material uncertainties about the charity's ability to continue.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Fund accounting

Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.

Designated funds are unrestricted funds earmarked by the trustees for a particular future project or commitment.

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Canterbury Baptist Church CIO

Notes to the Financial Statements (continued)

Year ended 5 April 2023

Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.

3. Incoming resources

All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:

• income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.

• legacy income is recognised when receipt is probable and entitlement is established.

• income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers.

• income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.

Resources expended

Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:

• expenditure on raising funds includes the costs of all fundraising activities, events, noncharitable trading activities, and the sale of donated goods.

• expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities.

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Canterbury Baptist Church CIO

Notes to the Financial Statements (continued)

Year ended 5 April 2023

• other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.

All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other recognised gains and losses, unless it reverses a charge for impairment that has previously been recognised as expenditure within the statement of financial activities. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other recognised gains and losses, except to which it offsets any previous revaluation gain, in which case the loss is shown within other recognised gains and losses on the statement of financial activities.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows: - Freehold property 75 years straight line - Fixtures and fittings 5 years straight line

Investments

Unlisted equity investments are initially recorded at cost, and subsequently measured at fair value. If fair value cannot be reliably measured, assets are measured at cost less impairment.

Listed investments are measured at fair value with changes in fair value being recognised in income or expenditure.

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying

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Canterbury Baptist Church CIO

Notes to the Financial Statements (continued)

Year ended 5 April 2023

value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.

For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the charity are assigned to those units.

Government grants

Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the charity will comply with the conditions attaching to them and the grants will be received.

Where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.

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Canterbury Baptist Church CIO

Notes to the Financial Statements (continued)

Year ended 5 April 2023

3. Accounting policies (continued)

Provisions (continued)

Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in income or expenditure unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in the statement of financial activities in the period it arises, and is allocated to the appropriate expenditure heading.

Financial instruments

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into.

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.

4. Donations, legacies & grant income

	Unrestricted	Restricted	Total	Total
	Funds	funds	Funds	Funds
			2023	2022
				(restated)
Donations	£	£	£	£
Tithes and Offerings	94,526	37,669	132,195	143,654
Gift Aid & other donations	16,650	9,657	26,262	30,475
Grants
Grant income received	–	5,200	5,200	–
	111,131	52,526	163,657	174,129

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Canterbury Baptist Church CIO

Notes to the Financial Statements (continued)

Year ended 5 April 2023

5. Investment income

5.	Investment income	Investment income
	Unrestricted		Restricted	Total	Total
		Funds	funds	Funds	Funds
				2023	2022
					(restated)
		£	£	£	£
	Income from investment properties	47,375	–	47,375	36,837
	Income from listed investments	–	372	372	364
		47,375	372	47,747	37,201
6.	Expenditure on charitable activities
	Unrestricted		Restricted	Total	Total
		Funds	funds	Funds	Funds
				2023	2022
					(restated)
		£	£	£	£
	Charitable activities	180,461	14,097	195,558	164,550
		180,461	14,097	195,558	164,550
7.	Exceptional income
	Unrestricted		Restricted	Total	Total
		Funds	funds	Funds	Funds
				2023	2022
					(restated)
		£	£	£	£
	Write off of historic pension scheme	71,535	-	71,575	-
	liability

On 30th June 2022 the Baptist Pension Scheme signed an agreement with the insurance company Just Group (“Just”) to secure DB Plan members’ pension benefits. Just are now providing financial backing for all pensions provided through the Scheme’s DB Plan and following this transaction, the Scheme no longer has a shortfall.

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Canterbury Baptist Church CIO

Notes to the Financial Statements (continued)

Year ended 5 April 2023

An updated Recovery plan was then signed in August 2022 under which recovery contributions from each participating employer in the DB Plan reduced to £1 per month from August 2022. As a result the historic liability carried relating to the Scheme Deficit has been written off in the year. Also see note 18.

8. Net (losses)/gains on investments

Net (losses)/gains on investments	Net (losses)/gains on investments
Unrestricted		Restricted	Total	Total
	Funds	funds	Funds	Funds
			2023	2022
				(restated)
	£	£	£	£
Gains/(losses) on listed investments	-	(584)	(584)	(1,054)

9. Staff costs

The total staff costs and employee benefits for the reporting period are analysed as follows:

follows:
	Unrestricted	Restricted	Total	Total
	Funds	funds	Funds	Funds
			2023	2022
				(restated)
	£	£	£	£
Salaries and pension contributions	57,819	3,000	60,819	62,962

The average headcount of employees during the year was 6 (2022: 6).

No employee received employee benefits of more than £60,000 during the year (2022: Nil).

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Canterbury Baptist Church CIO

Notes to the Financial Statements (continued)

Year ended 5 April 2023

10. Net income

Net income is stated after charging/(crediting):

Net income is stated after charging/(crediting):
	2023	2022
		(restated)
	£	£
Depreciation of tangible fixed assets	24,751	24,317

11. Trustee remuneration and expenses

Expenses paid to trustees in the year totalled £254 (2022: £7). These expenses were reimbursing the minister for travel, stationery, entertaining and other sundry expenses undertaken on behalf of the church.

The church also pays for some of the minister's living expenses within the Manse, including the telephone, alarm, utility and council tax bills and small repairs. These totalled £6,956 (2022: £4,083)

Additionally the church paid moving expenses and for kitchen equipment totalling £5,311 (2022: £nil) in the year.

12. Tangible fixed assets

angible fixed assets
	Freehold	Fixtures and
	property	fittings	Total
	£	£	£
Cost
At 6 April 2022(restated)	1,795,812	4,326	1,800,138
Additions in year	-	1,551	1,551
Cost carried forward	1,795,812	5,877	1,801,689
Depreciation
At 6 April 2022(restated)	71,832	3,829	75,661
Charge for the year	23,944	807	24,751

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Canterbury Baptist Church CIO

Notes to the Financial Statements (continued)

Year ended 5 April 2023

12. Tangible fixed assets (continued)

12. T	angible fixed assets (continued)
		Freehold	Fixtures and
		property	fittings	Total
		£	£	£
	Carrying value
	At 5 April 2023	1,700,036	1,241	1,701,277
	At 5 April 2022(restated)	1,723,980	497	1,724,477
13.	Investments
				Listed
			investments
	Cost or valuation			£
	At 6 April 2022 (restated)			13,251
	Additions			–
	Other movements			(584)
	At 5 April 2023			12,667
	Impairment
	At 6 April 2022 and 5 April 2023
	Carrying amount
	At 5 April 2023			12,667
	At 5 April 2022(restated)			13,251
	All investments shown above are held at valuation.
	Financial assets held at fair value

All investments shown above are revalued to market value as at the balance sheet date

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Canterbury Baptist Church CIO

Notes to the Financial Statements (continued)

Year ended 5 April 2023

	Year ended 5 April 2023
14.	Debtors
		2023	2022
			(restated)
		£	£
	Trade debtors	4,896	2,497
	Prepayments and accrued income	117	117
		5,013	2,614
15.	Cash and cash equivalents
	Cash and cash equivalents comprise the following:
		2023	2022
			(restated)
		£	£
	Cash at bank and in hand	52,066	69,519
		52,078	69,519
16.	Creditors: amounts falling due within one year
		2023	2022
			(restated)
		£	£
	Bank loans and overdrafts	27,999	56,635
	Trade and other creditors	2,969	2,902
	Accruals and deferred income	5,906	3,000
		36,874	62,537
17.	Creditors: amounts falling due after more than one year
		2023	2022
			(restated)
		£	£
	Bank loans and overdrafts	-	27,953

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Canterbury Baptist Church CIO

Notes to the Financial Statements (continued)

Year ended 5 April 2023

18. Provisions

Provisions
		Pensions
	Pensions	and similar
	and similar	obligations
	obligations	2022
	2023	(restated)
	£	£
At 6 April 2022	73,019	79,600
Paid in year	(1,484)	(6,581)
Written off in year - exceptional income	(71,535)	-
At 5 April 2023	-	73,019

19. Related Charities

The custodian Trustee of the church is the Baptist Union Corporation Limited which is charity number 249635, and which is controlled by the Baptist Union Council. The church is also a member of the Baptist Union of Great Britain.

The church is in receipt of a loan from the Baptist Union Corporation as set out in note 16. The loan was repaid in full following the year end.

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Canterbury Baptist Church CIO

Notes to the Financial Statements (continued)

Year ended 5 April 2023

20. Analysis of charitable funds

Unrestricted funds

	At
	6 April			Gains	Transfers	At
	2022			and	between	5 April
	(restated) **Income **		Expenditure	(losses)	funds	2023
	£	£	£	£	£	£
General funds	**1,633,101 **	158,506	(180,461)	-	**36,027 **	1,718,708
						At
				Gains	Transfers	5 April
	At			and	between	2022
	6 April 2021	Income	Expenditure	(losses)	funds	(restated)
	£	£	£	£	£	£
General funds	1,588,150	198,171	(162,986)	(1,829)	11,595	1,633,101
Restricted funds
	At
	6 April			Gains	Transfers	At
	2022			and	between	5 April
	(restated) **Income **		Expenditure	(losses)	funds	2023
	£	£	£	£	£	£
Restricted funds	**13,251 **	52,898	(14,097)	(585)	(36,027)	15,441
						At
	At			Gains	Transfers	5 April
	6 April			and	between	2022
	2021	Income	Expenditure	(losses)	funds	(restated)
	£	£	£	£		£
Restricted funds	12,476	13,159	(1,564)	775	(11,595)	13,251

21

Canterbury Baptist Church CIO

Notes to the Financial Statements (continued)

Year ended 5 April 2023

20.

Analysis of charitable funds (continued)

The church holds a small number of restricted funds in relation to grants and donations received for community projects.

In addition the church holds restricted funds in relation to former minister Alan Richie who donated funds to support the children’s and youth work within the church.

The transfers within funds in the year relates wholly to donations received in the year relating to the building project undertaken by the church historically. Donors have given specifically for a number of years in order to repay the loan taken out with the Baptist Union Corporation Limited.

21. Defined benefit plans

During the course of the year it was confirmed that the Church’s liabilities under the pension scheme known as the Baptist Pension Scheme (“the Scheme”) have been reduced to nothing following the buy out of the Scheme by the Just Group.

As such no further disclosures are considered necessary. The write off has been treated as exceptional income in the year.

22. Prior year adjustment

The previous year’s figures have been restated to remove the assets of the Charity of Joshua Cox which were included in previous year. The Charity of Joshua Cox exists to provides income for the Minister at Canterbury Baptist Church.

Reconciliation of funds

	£
Net funds brought forward (prior year)	1,660,446
Remove listed investments and bank	(14,094)
balances
Net funds brought forward following	1,646,352
restatement

22

Canterbury Baptist Church CIO Management Information

Year ended 5 April 2023

The following pages do not form part of the financial statements.

23

Canterbury Baptist Church CIO Detailed Statement of Financial Activities

Year ended 5 April 2023

	2023	2022
Income and endowments	£	£
Donations and legacies
Tithes and Offerings	132,195	143,654
Gift Aid, legacies and other donations	26,262	30,475
Grant income	5,200	–
	163,657	174,129
Investment income
Income from investment properties	47,375	36,837
Income from listed investments	372	364
	47,747	37,201
Total income	211,404	211,330
Expenditure
Expenditure on charitable activities
Salaries and pension contributions	60,819	62,962
Light and heat	29,124	13,808
Repairs and maintenance	22,344	18,188
Insurance	4,389	3,444
Depreciation	24,751	24,317
Other interest payable and similar charges	70	3,843
Bank Charges	422	406
Community Hub Project	295	2,872
Donations	-	620
Expenditure from grant income	3,671	-
Entertaining & hospitality	1,221	560
Sundry	5,173	4,389
Travel	743	674
Administration	14,065	11,101
Ministers expenses	2774
Accountancy fees	3,900	1,800
Subscriptions and fees	3,234	3,235
Overseas mission	7,874	3,892
Home mission	2,336	1,836
Children, youth and students	481	861
Evangelism	-	223
Stationery and publicity	6,872	5,513
Total expenditure	**194,558 **	164,550
Net (losses)/gains on investments
Gains/(losses) on listed investments	(584)	(1,054)

24

Net income

Extraordinary Income

Pension Scheme Deficit Release

Total income

16,262 45,726 – 71,535 87,797 45,726

25