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2024-04-05-accounts

Canterbury Baptist Church CIO

Unaudited Financial Statements

5 April 2024

CHARITY REGISTRATION NUMBER: 1179894

Canterbury Baptist Church CIO

Financial Statements

Year ended 5 April 2024

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 23

Canterbury Baptist Church CIO

Trustees' Annual Report

Year ended 5 April 2024

The trustees present their report and the unaudited financial statements of the charity for the year ended 5 April 2024.

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 (resigned 26 November 2023) Rev L A Barrs

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 2024

Structure, governance and management

The CIO (Charitable Incorporated Organisation) is a registered charity, number 1179894, and is constituted under the constitution dated 29 April 2018. The Trust is a Baptist church affiliated with the Baptist Union of Great Britain (BUGB) and the South Eastern Baptist Association. Nearly all of the church's funding 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 church's constitution 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 the church treasurer. Ministers, having been appointed by a vote of church members at a particular church members' meeting, are ex officio trustees and are remunerated by the church. No other trustee is remunerated; elders, the church secretary and the 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'/Leadership Team meetings are typically monthly meetings. Many subjects are discussed, including discerning God’s direction for the church, overseeing church activities, discussing pastoral situations, maintaining the church’s buildings, appointing staff, points of administration, and financial matters. Important decisions are referred to church members' meetings, held at least four times per year. Church Members come together in these meetings to discern the will of God to make decisions on such matters as church membership applications, the appointment of ministers and other trustees, and other significant decisions relating to the church's life and mission.

2

Canterbury Baptist Church CIO

Trustees' Annual Report (continued)

Year ended 5 April 2024

Objectives and activities

Canterbury Baptist Church is committed to serving as apprentices of Jesus, and so our vision is summarised by three aims:

'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. This follows the example of the New Testament church at Antioch with the following objectives:

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

Our vision and practices are outworked appropriately in different areas of ministry activity. These are loosely summarised below:

3

Canterbury Baptist Church CIO

Trustees' Annual Report (continued)

Year ended 5 April 2024

Sunday Mornings

Most Sunday mornings involve prayer and worship time, the opening of Scripture, and the practising of community. The prayer and worship time varies depending on the person leading and the theme of the service, as inspired by the passage we are due to open. Usually, it is a mix of classic and contemporary songs/hymns paired with periods of quiet reflection, opportunities for prayers of intercession, and the practising of the gifts of the Spirit. The opening of Scripture usually involves the reading of a passage before a Minister/Speaker exposits the meaning of the text before applying it to our lives today in partnership with the Holy Spirit. The community is large for a Baptist church, and it has steadily grown in the past year in all demographics. Most Sundays, as well as tea and coffee, there is a lunch for students. The wider community enjoys regular bring-and-share lunches around once a term.

Community Groups

The community continues beyond Sunday morning as members choose to meet during the week in various ways. Several community groups meet in different contexts. Their emphasis is on the building of genuine relationships and of sharing life in the effort to create a genuinely Jesus-centred, supportive community of faith.

Children and Youth Work

As apprentices to Jesus, we are committed to helping our children and youth learn about Jesus and how they can follow Him, too, if they choose to. We structure our children’s work based on age and ability. We have recently adopted a new curriculum to help children understand the big story of Scripture and aid them in developing their own personal faith. This past year, we have been privileged to see many of our children and young people make the decision to follow Jesus and seal that choice through being baptised. We continue our children and youth work outside of the morning services with seasonal celebrations where we invite the community to join us for a fun day, complete with bouncy castles, crafts and games. We also organise a music club on Mondays, focusing on helping children learn an instrument and grow as a community. From our building, we also have a long-standing toddler group, Little Seeds, that succeeds in blessing many young families with a space for fun, conversation, and community.

Witnessing Events

Having been transformed by the work of Jesus ourselves, we hope to share that same good news with others in our community. Therefore, we are committed to witnessing in our

4

Canterbury Baptist Church CIO

Trustees' Annual Report (continued)

Year ended 5 April 2024

community in various ways. Firstly, we acknowledge that members are already part of communities such as families, friendships and work colleagues. We, therefore, seek to equip each member to be able to give an answer for the hope they have in Jesus. We also look to witness more specifically through courses like Alpha and Christianity Explored. Then, there are times throughout the year when we partner with other local churches to provide a more visible witness of unity, for example, at Easter and Christmas.

Local and Overseas Mission

Having been blessed by God, we seek to become a blessing for others. The practice of generosity takes different forms based upon individual circumstances, but more generally, we serve on both a local and overseas level:

Locally, we organise a hub that runs on Thursdays and Fridays, with the express focus of practically serving those who are financially struggling or suffering from poor mental health. On Thursdays, we distribute food parcels through our community fridge, point to helpful resources for support, and offer a spiritual blessing where it is welcomed. We have a team of volunteers who during the week, organise and collect food destined for landfill. Most of this food is made available to people in need via the hub cafe, and volunteers take some food parcels to housebound people in the Canterbury and Herne Bay areas. This is paid for primarily through church funds, as well as various grants and fundraising events. We also seek to be generous with our building rental, where we have become a base for community work within Canterbury. The church regularly provides subsidised use of its buildings to local charities and organisations working with local people in the community.

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, BMS World Mission, Christian Aid, and others we support. Through the work of Friends International, we are pleased to support many international students who come to study and live in Canterbury, refugees, and others who seek to find a home here.

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 2024 amounts to £1,748,338 (2023: £1,734,149).

5

Canterbury Baptist Church CIO

Trustees' Annual Report (continued)

Year ended 5 April 2024

During the year the church generated a surplus of £14,189 (2023: £87,797). Included in this surplus, an adjustment was made to revalue the listed investments resulting in additional income of £980 (2023: £584 of expenditure).

The trustees' annual report was approved on 4 May 2025 and signed on behalf of the board of trustees by:

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 2024

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 2024.

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 FCA Independent Examiner

The Buttery Highland Court Farm, Bridge Canterbury Kent CT4 5HW

11 May 2025

7

Canterbury Baptist Church CIO

Statement of Financial Activities

Year ended 5 April 2024

2024 2024 2024 2023
Unrestricted Restricted Total Total
funds Funds funds funds
Income and endowments Note £ £ £ £
Donations, legacies & gift aid 4 201,790 2,720 204,510 157,030
Grants and other charitable income 5 2,746 2,800 5,546 6,627
Investment income 6 40,473 372 40,845 47,747
Total income 245,009 5,892 250,901 211,404
Expenditure
Expenditure on charitable activities 7 231,689 6,003 237,692 194,558
Total expenditure 231,689 6,003 237,692 194,558
Exceptional income 8 - - - 71,535
Net (losses)/gains on investments 9 - 980 980 (584)
Transfers between funds
- - - -
Net income and net movement in funds 13,320 869 14,189 87,797
Reconciliation of funds
Total funds brought forward 1,718,708 15,441 1,734,149 1,646,352
Total funds carried forward 1,732,028 16,310 **1,748,338 ** 1,734,149

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 21 form part of these financial statements.

8

Canterbury Baptist Church CIO

Statement of Financial Position

5 April 2024

2024 2024 2024
2023
Unrestricted Restricted Total
Total
funds funds funds funds
Fixed assets Note £ £ £ £
Tangible fixed assets 13 1,677,339 - 1,677,339 1,701,277
Investments 14 - 13,647 13,647 12,667
1,677,339 13,647 1,690,986 1,713,944
Current assets
Debtors 15 6,185 - 6,185 5,013
Cash at bank and in hand 16 58,337 2,663 61,000 52,066
64,522 2,663 67,185 57,079
Creditors: amounts falling due within one 17 9,833 - 9,833 36,874
year
Net current assets 54,689 2,663 57,352 20,205
Total assets less current liabilities 1,732,028 16,310 1,748,338 1,734,149
Net assets 1,732,028 16,310 1,748,338 1,734,149
Funds of the charity
Unrestricted funds 1,732,028 - 1,732,028 1,718,708
Restricted funds - 16,310 16,310 15,441
Total charity funds 19 1,732,028 16,310 1,748,338 1,734,149

These financial statements were approved by the board of trustees and authorised for issue on 4 May 2025, and are signed on behalf of the Trustees by:

Mr J Reece Trustee

The notes on pages 10 to 21 form part of these financial statements.

9

Canterbury Baptist Church CIO

Notes to the Financial Statements

Year ended 5 April 2024

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 2024

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:

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:

11

Canterbury Baptist Church CIO

Notes to the Financial Statements (continued)

Year ended 5 April 2024

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

12

Canterbury Baptist Church CIO

Notes to the Financial Statements (continued)

Year ended 5 April 2024

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.

13

Canterbury Baptist Church CIO

Notes to the Financial Statements (continued)

Year ended 5 April 2024

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
2024 2023
Donations £ £ £ £
Tithes and Offerings 132,222 2,720 134,942 130,768
Legacy income 50,000 - 50,000 -
Gift Aid & other donations 19,568 - 19,568 26,262
201,790 2,720 204,510 157,030

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Canterbury Baptist Church CIO

Notes to the Financial Statements (continued)

Year ended 5 April 2024

5. Grants and other charitable income

Unrestricted Restricted Total Total
Funds funds Funds Funds
2024 2023
Grants £ £ £ £
Grant income received - 2,800 2,800 5,200
Other charitable income
Other charitable income 2,746 - 2,746 1,427
2,746 2,800 5,546 6,627
**6. ** Investment income
Unrestricted Restricted Total Total
Funds funds Funds Funds
2024 2023
£ £ £ £
Income from investment properties 40,473 – 40,473 47,375
Income from listed investments – 372 372 372
40,473 372 40,845 47,747
7. Expenditure on charitable activities
Unrestricted Restricted Total Total
Funds funds Funds Funds
2024 2023
£ £ £ £
Charitable activities 231,689 6,003 237,692 194,558
231,689 6,003 237,692 194,558

15

Canterbury Baptist Church CIO

Notes to the Financial Statements (continued)

Year ended 5 April 2024

8.

Exceptional income

Unrestricted Restricted Total Total
Funds funds Funds Funds
2024 2023
£ £ £ £
Write off of historic pension scheme
-		 - - 71,535
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.

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 was written off in the last financial year.

9. Net (losses)/gains on investments

Net (losses)/gains on investments Net (losses)/gains on investments
Unrestricted Restricted Total Total
Funds funds Funds Funds
2024 2023
£ £ £ £
Gains/(losses) on listed investments - 980 980
 (584)

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Canterbury Baptist Church CIO

Notes to the Financial Statements (continued)

Year ended 5 April 2024

10. Staff costs

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

follows: follows:
Unrestricted Restricted Total Total
Funds funds Funds Funds
2024 2023
£ £ £ £
Salaries and pension contributions 99,517 - 99,517 60,819

The average headcount of employees during the year was 7 (2023: 6).

No employee received employee benefits of more than £60,000 during the year (2023: Nil).

11. Net income

Net income is stated after charging/(crediting):

Net income is stated after charging/(crediting):
2024 2023
£ £
Depreciation of tangible fixed assets 24,333 24,751

12. Trustee remuneration and expenses

Expenses paid to trustees in the year totalled £3,335 (2023: £254). 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 £11,178 (2023: £6,956)

Additionally the church paid moving expenses and for kitchen equipment totalling £nil (2023: £5,311) in the year.

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Canterbury Baptist Church CIO

Notes to the Financial Statements (continued)

Year ended 5 April 2024

13. Tangible fixed assets
Freehold Fixtures and
property fittings Total
£ £ £
Cost
At 6 April 2023 1,795,812 5,877 1,801,689
Additions in year - 395 395
Cost carried forward 1,795,812 6,272 1,802,084
Depreciation
At 6 April 2023 95,776 4,636 100,412
Charge for the year 23,944 389 24,333
Depreciation carried forward 119,720 5,025 124,745
Carrying value
At 5 April 2024 1,676,092 **1,247 ** 1,677,339
At 5 April 2023 1,700,036 1,241 1,701,277
14.
Investments
Listed
investments
Cost or valuation £
At 6 April 2023 12,667
Additions –
Other movements 980
At 5 April 2024 13,647

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Canterbury Baptist Church CIO

Notes to the Financial Statements (continued)

Year ended 5 April 2024

Impairment

At 6 April 2023 and 5 April 2024

Carrying amount
At 5 April 2024 13,647
At 5 April 2023 12,667
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

15. Debtors

Debtors
2024 2023
£ £
Trade debtors 4,679 4,896
Prepayments and accrued income 1,506 117
6,185 5,013

16. Cash and cash equivalents

Cash and cash equivalents comprise the following:

2024 2023
£ £
Cash at bank and in hand 61,000 52,066
61,000 52,066

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Canterbury Baptist Church CIO

Notes to the Financial Statements (continued)

Year ended 5 April 2024

17. Creditors: amounts falling due within one year

Creditors: amounts falling due within one year
2024 2023
£ £
Bank loans and overdrafts - 27,999
Trade and other creditors 2,808 2,969
Accruals and deferred income 7,025 5,906
9,833 36,874

18. 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.

19. Analysis of charitable funds

Unrestricted funds

At Gains Transfers At
6 April and between 5 April
2023 Income Expenditure (losses) funds 2024
£ £ £ £ £ £
General funds 1,718,708 245,009 (231,689)
-		 - 1,732,028
At

At		 Gains Transfers 5 April
6 April and between 2023
2022 Income Expenditure (losses) funds
£ £ £ £ £ £
General funds 1,633,101 158,506 (180,461)
-		 36,027 1,718,708

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Canterbury Baptist Church CIO

Notes to the Financial Statements (continued)

Year ended 5 April 2024

Restricted funds

Restricted funds
At Gains Transfers At
6 April and between 5 April
2023 Income Expenditure (losses) funds 2024
£ £ £ £ £ £
Restricted funds 15,441 5,892 (6,003)
980		 - 16,310
At Gains Transfers At
6 April Incom and between 5 April
2022 e Expenditure (losses) funds 2023
£ £ £ £ £
Restricted funds 13,251 52,898 (14,097)
(585)		 (36,027) 15,441

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.

20. Defined benefit plans

During the course of the previous financial 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.

21

Canterbury Baptist Church CIO Management Information

Year ended 5 April 2024

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

22

Detailed Statement of Financial Activities

Year ended 5 April 2024

2024 2023
Income and endowments £ £
Donations, legacies & charitable
activities
Tithes and Offerings 134,942 130,768
Legacies 50,000 -
Gift Aid, legacies and other donations 19,568 26,262
Charitable activities 2,746 1,427
Grant income 2,800 5,200
210,056 163,657
Investment income
Income from investment properties 40,473 47,375
Income from listed investments 372 372
40,845 47,747
Total income 250,901 211,404
Expenditure
Expenditure on charitable activities
Salaries and pension contributions 99,517 60,819
Light, heat & utilities 32,073 29,124
Repairs and maintenance 22,198 22,344
Insurance 4,113 4,389
Depreciation 24,333 24,751
Other interest payable and similar charges 481 70
Bank Charges 471 422
Community Hub Project 10,955 295
Donations 3,084 -
Expenditure from grant income 3,319 3,671
Entertaining & hospitality 1,714 1,221
Sundry 3,233 5,173
Travel 679 743
Administration 11,612 14,065
Ministers expenses 1,006 2,774
Accountancy fees 2,303 3,900
Legal & professional fees 2,031 -
Subscriptions and fees 4,513 3,234
Overseas mission 5,800 7,874
Home mission 1,836 2,336
Children, youth and students 929 481
Evangelism 82 -
Stationery and publicity 1,410 6,872

23

237,692 194,558

Canterbury Baptist Church CIO

Total expenditure

Net (losses)/gains on investments
Gains/(losses) on listed investments 980 (584)
Net income 14,189 16,262
Extraordinary Income
Pension Scheme Deficit Release - 71,535
Total income 14,189 87,797

24