JVMCarey
Bapti5tChuKh
CAREY BAPTIST CHURCH, READING
MANAGING TRUSTEES, REPORT ANDACCOUNTS
FOR THE YEAR ENDED
31 DECEMBER 2024
Registered Chaiity No. 1183896

CAREY BAPTIST CHURCH, READING
LEGAL AND ADMINISTRATIVE INFORMATION
Current Managing Trustees
(Elders)
tkmke tknies
Treasurer
Mr Graeme Powell
Church Administrators
Mrs Dorothy Yuille, Mrs Jude Bullock
Registered Charity Number
1183896
Carey Centre
Anstey Road
Reading
Bethshire
RG17JR
Georye Street
Reading
Bethshire
RG1 8LS
Bank￿5
HSBC
26 Broad Street
Reading
Bethshi
RG12BU

CAREY BAPTIST CHURCH, READING
CONTENTS
Pag•
Managing TrLJStees' report
Independent examinerfs report
12
Statement of financial activities
Balance sheet
14
Statement of cash flows
15
Notes lo the accounts
16-28

CAREY BAPTIST CHURCH, READING
MANAGING TRUSTEES, REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
The Managing Trustees present their report and accounts for the year ended 31 Decernber 2024.
The accounts have been prepared on a going concern basis and in accordan￿ with the accounting policies set out
in note 1 to the accounts. They comply wth the Church's Conslilution, the Charities Act 2011 and the requirements
of Accounting and Reporting by Charities.. Slalemenl of Recommended Practi￿ applicable to charities preparing their
accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021
(effective 1 January 20191- (Charities SORP IFRS 10211.
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Carey Baptist Church, Reading is an Independent Baptist Church originally founded on 10 February 1867 with the
main chapel building located in Carey Street, Reading, RG1 7JS. The Church was first registered as a ¢harily under
charitable trust deed, the Church Constitution, adopted on 16 September 2008. A minor revision to the Constitution
was adopted by the Managing Trustees and the whole Church Membership on 21 July 2015.
Following the decision in 2018 by the Church to change our Constitution to become a Charitable Incorporated
Organisation ICIOI, a new Constitution and Church Handbook were produced during 2019. These were submitted lo
the Charity Commission and CIO status was granted lo the Church on 14 June 2019 (Registration Number 11838961.
The process of transferring the stsff. the properties and all the assets of the Unincorporated Charity (Registration
Number 11264881 lo the CIO was Completed on 31 December 2022 and the Church Commenced operation as a CIO
on 1 JanLJary 2023. The Unincorporated Charity was merged with the CIO on 1 January 2023 and confirmation of the
registration of the merger was re￿iVed from the Charity Commission on 10 June 2025.
The Constitution of the Church rnakes clear that the ultimate authority for all matters and decisions affecting the
Church, its activities and ils ministries rests with the members of the Church as agreed al Church meetings frorn lime
to lime. However, this authority is delegated lo the Elders, as the Managing Trustees, the designated Officers of the
Chur¢h, lor routine and day-104ay decisions affecting the operations of the Church. These include the normal
activities such as worship, pastoral care, teaching, OLJtreach, fi'nancial management, health and safety, welfare and
safegLJarding matters as well as engagement with extemal bodies. The work of the Managing Trustees is reported
back to the membership at the regular meetings of the Members during the year.
Mana
in
Trustees & Staffin
The Managing TrLJStees who served durin9 2024 were'.-
Dr Andrew Barnett
Mr Simon Butler
Dr Mike Davies
Dr Graham Machin
Pastor James Muldoon, resigned 14 April 2024
Mr David Rimes, from 19 March 2024
Mr Richard Webb
Pastor Richard Baxter
Dr James Cordle
Pastor John Heron, from 1 February 2024
Pastor David Magowan
Dr Alistair Murdoch
Dr Amit Sharma, from 24 September 2024
The Pastr)rs are Elders whose gifts in preaching, teaching and pastr)ral care have b*n recognised by the Church and who
have b*n appcmnted by the Churth to exercise such a ministy.
For the eady months of 2024 David Magowan and James Muldoon served as full ti￿£ C￿pastor8 ofthe ChLJrch until James
Muldoon resign￿1 from Carey arKJ twk up the Senior Pastor role at Duke Str￿l Church, Richmond. John Heron was
appointed as an Asswate Pastor from 1 February 2024, initially for a 2-year term. Al a Church meeting on 19 Noverllber
2024 this 2-year term was extended and John was gwen an ¢Jpenended appointment as a Pastor. David Magowan's job
tille was a￿0 ¢hanged to 'Paslorf. Richard Baxter served as our Pastor for Outreach ￿nth a fow% on evangelism and

CAREY BAPTIST CHURCH, READING
MANAGING TRUSTEES. REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
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serve the Church as our full-time Youth Wotker and Hugh Thresher continued as our Operations Manager.
Hden Yuilk has ¢ontinued as our part-lime Intemational Worker with pa￿C￿lar responsiknlity for ministry to those from
overseas and for'Bridges', our English Language School. In this ministry il has b*n helpful to have Maryalis R￿hardsOn
ting as an Intemational Integration Worker to assist with sharing the Christian Gospd with the large number of asylum
seekeT3 and other intemationals who have come to Reading over r￿nt years. Dorothy Yu11￿ and Jude Bull0￿ suptx>rted
the church as our Office Adminislralors. Essi BoalerKJ was employed part time as our Bridges Crèche W0￿er.
Jonathan Kent has kEen continuing his BA Theology St￿lieS 8108k Hill College in Southgate, London during the year. Il's
n a joy lo have Jack mcFe￿n as a Ministy Trainee during 2024 and Noah Parker also joined us as a Ministry Trainee
in September 2024. Both young men attended the helpftjl Ministry Training Course in Oxford on Tuesdays.
The Managing Trustees are required by the ¢onslilulion to meet at ￿8$1 in a twelv&monlh tÈri(Kl, and have met lo
aldress specific issues on three occasions during the year, On￿ in January, in April and in July. Any matter requiring a
decisK)n of the Managing Trustees ne￿ssitateS asIMp￿ majorityof those presentand voting ata properfy convened M￿ting,
either physically or electronically.
The ap￿Intment of new Managing Trustees is effected after careful consideration of the grfts, theologul convictions and
abilities of potential candidates. The dutEs, responsibilitses and requirements of t￿St￿hIp are explained and a protK)sal for
an appoirrtment is brought, with the recommendats.on of the exisb"rvJ Managing Trust￿, to a meeting of the Church
membership for a vole. A iwo thirds majorty of members present and voting is required for an appintmenl. During 2024
three new Managing Trustees have appointed and one has reSvjn￿.
In addition to thework carried out by the Elders, the Church has a finan¢eteam led by the honorary treasurer, Graeme Powell.
The work of the finan￿ team inclL*les producing an annual prediction of our estimated income and expenditure, collecting
and allocating gifts to the Church, redaiming tax from HMRC on gift-aided ir￿me, pawng staff members, receiving, checking
and paying approved invoices, maintaining the financial accounts, pr(yJucing the annual accounts, interacting wth examiners
or auditors and dislribuling monÈs to those in need in ¥CLordance with the wshes of the Managing Trustees. This
considerabk bad of financial adminislralion is ￿rried out mainly by volunteers in Collaboration with the office stsff.
The majority of the other admin work of the Church is carri￿1 out by oui office adminislralors and oc£asK)nal volunteers.
The Managing Trust￿ have continued lo keep in mind during 2024 the major risks to which the Church is expos￿1. The
Ttustees are salisfi&l that systems are in place lo mits.gate exposure lo the rnajor risks Identif￿. These measures include
having a comprehensive child protection policy, a youth team policy, heahh and safety policEs and procedures, focKJ and
hygiene policies, a safeguarding adulis policy, data protection Oicies cOm￿L￿nt ￿rith the GDPR requirements and well-
publ￿vIed and rehearsed ewergency evacuation prc￿eSSes. The Church has also expanded its cOn￿M for those with
Jditional needs and a small team has been fomied to ensure that everyone wth whorn we have contact feels loved and
wdcomed and is able to hearand understand the good news about Jesus andlorgrow in their Christian faith.
The ManagirvJ Trustees perioKlicalty assess the fina[￿la1 posth.on of the church in collaboralK)n with the Treasurer lo ensure
that our pOs￿"0n is consistent with our reseTves policy. The Church has appropriate insuran(E for its assets arKI for risks
associated with ils operations.
In ￿ld1110n, the Church produces and maintains rBk assessments covering most of the actwities of the Church lo ensure that
identnSable risks are minimised or eliminated. The BLJilding Risk Assessments have b*n revEwed during the year. We're
very thankful that another year has passed without any serious incidents and we continue to remain vigilant and pray that all
our ministries will be conducted safely and that all our ministy leaders and helpers will keep safety as one of th￿r prime
requirements.
S8feguatding is a priorityforthe Church and we are wmmitted to providing a safe and ¢2riTYJ environmènlforeveryone. We
have a safegLJarding team which ensures that ouracts'vities are in linewrth statuiory guiddines on gocKJ wort(ing practice. The
team has arranged trainirvJ during the yearand LI￿13ted oursafeguarding poliaes. All our staff and volunteers whowork with

CAREY BAPTIST CHURCH, READING
MANAGING TRUSTEES. REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
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Pur
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The purposes oflhe Church are the advancement of the Christian faith in accordance wlh the DoctrinJ Basis of Faith and in
line wth the defined PLJrposes in our ConstitLJtion, primarily bul not ex¢lusively within Reading and the surrounding
neighbourhood, and such other charitable purposes as shall, in the opinion of the members of the Church in general
meeting, further the work of the Church.
We take very seriously the command of Jesus Christ to his followers to spread the good news of the Christian gospel,
the need for repentan￿ for sin and faith in the Lord Jesus. In consequence, the Church has been concerned that there
are some parts of the wder Reading conurbation which are not well served by 8 local evangelical Christian church. Al
the beginning of 2023 we fell constrained lo pray and ask the Lord lo guide us with a clear vision of where we might
reach out helpfully to provide such a facility. After a few months of prayer, discussion and enquiries it was decided that
the Church should fomi a congregation in Woodley on the east side of Reading. The progress of this outreach initiative
during 2024 is described on page 8 of this report.
Our regular Sunday worship and biblical preaching ministry have continued with two services each Sunday at our chapel
in Carey Str￿1 and one Sunday service for the congregation al Woodley. Our main church services a￿ available on
our Web sile and are video live-streamed through Facebook and YouTube. This means that our rnini5try is available lo
members, visitors and the public generally, as well as older people and families who live locally bul may not be able lo
attend every service in person. On-line St￿arnIng ofthe Church worship servi￿$ ¢ontinues to be a help to a much wider
audience than our normal congregation in our chapel bLJilding. People have b￿n able lo listen to Ihe ServI￿S from
several countries as well as from other parts of the UK. Typically on a Sunday moming there have been over 60 live
connections lo our streaming platforms, mostly via YouTube. We intend lo continue to live-stream our Sunday services
and other meetings when possible throughout 2025.
A small team of skilled operaloTS Wlthin our church membership has been responsible for developing and managing our
on-line ¢apability and has produced the high-qualily live-streaming of our services which has continued lo be such a
blessing to many people during the year. This has necessitated some capital expenditure on new eqLJipment and
sofhvare to improve the quality of the video.
It has been very encouraging that several of ouryoungerchurch members have been keen to be trained and have setved
in these ministries competenuy and with enthusiasm.
Our IT team has worked hard behind the scenes to SUPPDrt multiple systems and ministries. We have maintained several
wired and wireless networks across 4 buildings that give people fast, secure and reliable a￿sS to the Intemet and
devi￿ such as printers, cameras, back-up drives and temperature sensors. We have 20 computers which support the
AV team, Offi￿ staff, music team, CCTV and heating systems. Ne￿SSary upgrading and repla￿ment of equipment
and software have been carried out.
We are very Con￿Med that our servi￿8 of worship should be a¢￿Sible lo everyone who attends induding those who
are unfamiliar with the Christian faith and those for whom English is not Iheirfirst language. The simultaneous translation
facility of our Sunday Servi￿ has now been provided in a number of languages. We expe¢t that this service can be
developed fvrther in the future.
Our Web site continues to be a key pla￿ for people to find out information about the church and the ministries that we
run. The number of visitors to the website has b￿n steady during 2024 with people from both the UK and overseas
frequently accessing the sile.
During 2024 we have maintained a comprehensive programme of age-appropriate teaching and activities for children,
young people and students on Sundays and during the week lo help them understand the Bible and the way in which ils
teaching should affect their lives.

CAREY BAPTIST CHURCH, READING
MANAGING TRUSTEES. REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
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other meetings. There are separate Sunday School classes from aged 3 up to year 8 when children are taughl from the
Bible and enjoy various activities lo cement the Bible's leaching in their memories. A meeting for young people in school
years g to 13 tskes pla￿ on Sunday evenings when discussions are held on a wde variety of topical Issues wlh a view
to helping young people develop a Clear Biblic41 perspective.
During the week, sessions are held for pre-school children with their parents or carers. These have b￿n very popular
including for those who have no other connections with the Church. Meetings have also been held during the week for
children in the various age groups. We've been privileged to be able to lake assemblies in local primary schools during
the year. This has strengthened our relationships with the local schools and has been much appreciated by the staff.
We have enjoyed a rewarding association with several students from the local Reading University during the year and
have organised a variety of activities in addition to their attending our Sunday worship services. In the Spring and
Summer terms there were fortnightly M￿tingS al the home of of our members when the students considered the
teaching and implications of 1 Thessalonians. We ended the academic year with a Suc￿sful BBQ.
In the new academic year in September, we welcomed firsl-year students and started up our more regular programme.
We provided Sunday lunch during the first 3 Sundays ofterm and Ihereafier students were invited lo have Sunday lunch
with various members of the church lo help them feel more integrated with church families.
Every other Wednesday oflhe Autumn term we mel logelherwilh the students fora rneal, talk, Bible study, time of prayer
and songs of worship. We worked through studies in 2 Thessalonians. The students come from a range of church
backgrounds, or no ¢hur¢h background. and we've been encouraged by their eagerness lo engage wth these studies.
Up to 20 students, including several very enthusiasti¢ first-year students benefited from these Wednesday evening
sessions.
The day away in November was a highlight and the Christmas lunch to which friends were invited was also a great
success. Our prayer is that the students would graduate having been encouraged by their interaction with Carey
members and be better equipped to glorify God in all areas of their lives, whatever path in life they take.
During the year we have supported the Reading Schools Christian workers owraling locally under the name 'Reach'.
Our SLJPPOrt has been financial and with prayer as the Reach personnel have interacted and helped both school staff
and pupils with RE lessons, by mentoring students and with moral issues. Reach also has a valuable ministry in
supporting Christian Unions in the local schcx)Is and during 2024 the Reach team have been involved regularfy with 12
secondary schools and a number of primary schools. In addition, 6 more secondary schools have asked for assistance
wrth teaching RE lessons or with helping schwl Christian Union groups.
An additional Servi￿ for Reach during 2024 has been the request from some schools for support with the mental health
of some pupils. This has ne¢essitsled additional training for some oflhe Rea¢h volunteers, who now number neady 100.
Another seNice has been providing practical help and advice for pupils intending to leave home and go to Ljniversity for
the first time.
The ¢hurch is anxious lo en¢ourage and support not only Children, teenagers and sttjdenls bul also young adults. To
this end we have a groLJP called 1830's, specrfically catering for anyone aged bett￿￿n 18 and 39. The objective of the
Group is lo build up the Church members and visitors in this age group, pointing them to the Lord Jesus and enabling
friendships and encouragement lo flourish, The group meets regularfy on Sunday evenings and has also met for a wide
range of events, some with a spiritual focus and others with a fun-aclivty focus bul always with the objective of building
a sense of belonging and fellowship.
A total of 17 events were held in 2024 and these included a Q&A session on dating, Dine and Discuss evenings, a
discussion on abortion, testimony evenings and social events SLJch as a pancake night, a craft aftemoon, a firepitevening,
a SLJmmer barbecue and an 1830's breakfast as well as a profitable and enjoyable Away Day in November.

CAREY BAPTIST CHURCH, READING
MANAGING TRUSTEES. REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
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looking and want to encourage anyone who is in the age range 18-39 andlor is new to the church to get in touch. The
social interaction in the group during 2024 has been a real help lo those young adults who attend our Church ServI￿S
and who would like lo extend their circle of friends and ￿ment friendships.
The Church has held regular, usually at least weekly, meetings for prayer, worship, Bible study and fellowship as well as
promoting informal contact between members and others for mutual help and encouragement. All these meetings have
been open to the public, both whole Church meetings and OLJr smaller local Life Group meetings. Our meetings for
Church members only have been ¢ondu¢led every Iwo months as usual.
The Oasis building adja¢enl lo the chapel has been well used for various outreach a¢tivilies in serving the Church
members and the wider local ¢ommunity. The Tuesday cafe has been well patronised, the women's craft evenings on
Tuesdays have continued fortnightly and Friday lunches remain popular, catering for 45-50 people, including several
asylum seekers to whom we provide free meals. Friday community night had a lower attendance for part of the year bul
numbers picked up towards the end of the year. The community night opening was also useful as a café for parents
bringing children lo the youth meetings on Friday evenings. The Oasis has also been used as a venue for teaching
English and for holding various wurses and other a¢iivilies during 2024.
Our Church has ¢onlinued lo have a solid objective lo reach out lo others by'showing Love and Speaking about Jesus,
both throLJgh 'formal' Church activibes and throLJgh individual relationships. We have held some evangelistic and
discipleship events and also organised regLJlar, normally monthly, Sunday services specifically designed to be ac￿SSible
to those who are not yet Christians. We have also invited guests who have been able lo explain the key ingredients of
the Christian faith through their lives having been transformed by meeting Jesus.
Easter and Christmas provided opportunities lo rerNind non-christians of the birth, death and resurrection of Jesus and
help them undeT31and the relevance of these historical events to their own lives.
Our major outreach initiative al the Reading Music Festival during the August late sumrner Bank Holiday weekend look
place as normal in 2024, with our giving out maps. free refieshments and literature and conducting numerous
conversations with festival goers. Many people were shown love and heard about the Lord Jesus Christ, some for the
first time, and others professed faith in Him for the first time. Our prayer is that those people would continue to live as
Christian believers and also thatthe literature and conversations will be a source of spiritual blessing and help to everyone
we encountered and lead to many festival goers having a better undeT3tanding of their need for repentance and trust in
Jesus.
We have ¢onlinued lo demonstrate our ￿n￿M for the seniors in our ¢ommunty in a number of ways. In addition to
home visits and helping with varioLJS practical needs, the seniors, lunches on Wednesdays, three times a month have
been a great blessing to our elderfy guests, usually numbering about 70 -75. That amounts to over 2,300 lunches
prepared, cooked and eaten during 20241 The purpose of the lunches is two-fold. Fir3lly, lo provide a nourishing meal
and friendship lo people who may live alone and be lonely, and secondly, to share the good news of the saving work of
the Lord Jesus Christ, particularly with those who have no church wnnections and may never have heard the Christian
Gospel. Our desire is to foster good friendships and to see older people CDming to faith in our Lord Jesus Christ.
Other highlights during the year were a delighfful aftemoon 'high lea, in July, ￿rith games, scones, jams and sausage
rolls. And in November we were treated to a COLJple of hoLJrs of Christmas songs sung beautifully by Jonathan Veira and
his wife Sue, together with stories, testimonies and much laughter. A few weeks later we had our popular Christmas
lunch, a combination of delicious Christmas fare, singing Christmas carols and a goody bag to take home.
Il's a￿ayS sad to announce the deaths of some of our regular senior'lunchers, and this year has been no eX￿pIlon. In
addition, one of our key helpeT3 passed away during the year leaving a hole In our staff resources and we trust that other
volunteers wll be able lo share in this valuable ministry.

CAREY BAPTIST CHURCH, READING
MANAGING TRUSTEES. REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
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Church and we're grateftjl for the contribLJtions which they make to our meetings for worship, fellowship, prayer and Bible
study.
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A Pro-Life Group, drawn from our members together with leaders and members from four other local churches has
continued to advocate for the rights of the unbom. The Group aims to help educate churches and the wider public on
the humanity and value of unborn children and save the lives of unwanted babies. The Group has engaged in street
work in Reading Town Centre and monitored legislation and Government activity.
During the year our ministry lo those who are frorn an ovetseas background has continued. 'Bridges', our English
language school, al which we teach English lo those for whom English is not their mother tongue. operated on
Wednesdays and Thursdays throughout the year. We provided 6 classes from Beginner to Upper Intermediate, and we
had more than 100 students on our register throughout the year with 25- 40 attending on any one morning. A creche
for the young children of students was also provided. We were pleased to have among our students a number ofasylum
seekeTS.
More than 20 volunteers served as qualified teachers and supporting helpers in this rninistry. We were saddened that
three of our volunteer helpers went to be with the Lord during the year bul this did give us the opportunity lo invite our
students lo the thanksgiving services for the lives of each of those who had died. In this way our students were able lo
gain an appreciation and understanding of the ￿rtaintY of the Christian hope after death - to be with the Lord Jesus for
ever.
Easter and Christmas provided opportunities for lessons particularfy explaining the importan¢e of these events in the life
of Jesus and His reason for coming into the world. We also had the privilege of running a mixed-level Easy English Bible
class and a Christianity Explored course followed by some Bible leaching from the book of Acts to those who expressed
an interest
The other major component of our ministry to those from overseas is our International Integration Ministry. This was
stsrted in 2022 and has developed during 2024. The objective is to welcome into our church community forworship and
fellowship those who have limited English andlor are in diffi¢ull ¢ir¢LJmstsn¢es, such as in the asylum process or those
who are refugees. We have a number of chLJrch members who serve as translators and with the aid of wreless
transmitters and receivers we can provide a simuttaneous translation service in Spanish, Russianlukrainian and
Romanian lo speakers of these languages sitting anywhere in our church building during the Sunday services. We were
also able lo offer Cantonese translation, when required. In addib"on, practical help and a variety of social events were
arranged for our overseas friends during the year which have strengthened friendships with our members. We were
delighted to host the wedding of members of our congregation from NicaragLJa who have been granted asylum in
the UK.
During 2024 our worf( in other countries has been maintsined with full-time and part-time missionaries working in Peru,
Eurasia, Poland, Central and Eastern Europe, Latin America, India, Italy, Spain and Ireland supported in part by the
Church. Our mission strategy as a local church was reviewed al the beginning of the year in order to clarify our role in
the urgent work of proclaiming the Christian gospel worfdwide. We need every member of our church lo be Involved in
an appropriate way by being up-Io-d8te with aclivilies, supporting, praying orgoing. The work of mission is local, national
and global.
Each of our mission partners who is working overseas has a link person within the d)ur¢h who is responsible for keeping
the membership informed of their activities, successes, needs and challenges so that prayer can be relevant. We have
also formed a Mission Ideas Team wilh a responsibility for developing action plans when necessary. During the year
there have been 24 rllembers ofthe church who have taken lime out lo be involved in short-term outreach and mission
work, mostly overseas.

CAREY BAPTIST CHURCH, READING
MANAGING TRUSTEES. REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
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country in February 2023. We were able to give ftjnds for various practs'cal and spiritual needs in response to information
which we received from visits to our church by those with on the ground experien￿ in the areas of conflict.
an
Carey has also continued to support a church in a multicultural community near Heathrow Airport. The pastor of this
church is also a chaplain al a local irnmigration detention centre, is very active in providing spiritual supportto an asylum-
seeker ￿ntre and lo local schools as well as leading his own church services on Sundays and during the week.
Our Church has provided financial and personnel assistance lo some local villagellown churches. This has included
preaching and conducting the worship services from time lo lime. We have continued lo give sUPPOrt lo Coley Park
Baptist Church during their period without a pastor. We have also supported the ¢hur¢h at Binfield Heath. One of our
members, although not supported financially by the Chur¢h, has a ministry to the women who have leadership
responsibilities in the Fellowship of Independent Evangelical Churches throughout the UK.
We have supported Christian outreach work amng students in the UK and also contributed to the work of Friends
Intemational, an organisation with a speafic ministy to overseas students studying in the UK.
Our W￿klY football evening at which local young people join with OLJr ChLJrch members for an evening of sport and an
opportunity for discussion about the Christian faith, has run throughout the year with increased attendance. During the
discussion limes, the opportunity has been taken lo address some of the questions raised by those who have had no
previous experience of or contact with the chrisb.an faith and who have had no previous knowledge of Jesus Christ.
The Church has been able lo give finanually in resFK)nse lo several UK and overseas needs which have aNsen during
the year. We have supported Caring for Lrfe in Leeds, UFM Woddwide, Open Doors, Ukraine Christian Ministries and
Yeldall Manor. a rehabilitation centre on the outskirts of Reading. These gifts have been made with the recommendation
of the Managing TrUSt￿s.
The Trustees have paid dLJe regard to the Charity Commission's gLJidance on public benefit and dLJring the year the
Church has sought to provide a distinct public benefit in our activities. A spiritual or practical benefit has been provided
to members ofthe public in the activities outlined above. The benefits have induded some People coming to a personal
faith In the Lord Jesus Christ as their Saviour and a Iransfotmed direction for their lives. There have been tangible
benefits in personal and family relationships as a consequenc* of the application of Bible leaching. Support has also
been given lo people with personal and relationship problems, those SLJffering from health issues and those Coping with
bereavement. There has also been a significant focus on emergency humanitarian aid and support this year and
members have given very generously.
In addition, a considerable effort has b￿n directed towards developing different means of providing education and
facilities for young people as well as promoting friendship and good community relations to all, including those from
overseas and eldedy people. The skill, gifts and expertise of our staff and Church members and our facilities have been
well used in the service of the local people.
Our vision for providing public benefit is not limited to our UK activities and we have contributed both financially and
through our members working as missionaries promoting the Christian faith, providing education, developing clean water
resources, impioving medical facilities and the ielief of poverty and hardship in several parts of the wodd.
Achievements and Performance
We are very grateful lo God for the ¢onsislenl and helpful biblical ministy from our pastors, other Church members and
occasional visrting preachers during the year. This has been a g￿at help to many people, some of whom have
understood their need of repentan￿ and of putting their trust in the Lord Jesus Christ as their Saviour and Lord. We are
very pleased to report that during 2024 five people were baplized on profession of Iheirfaith in the Lord Jesus Christ and
we welcomed 29 new members into the Church fellowship and one new associate member. A few members were either
released from membership lo the care of other churches because they had moved house, or were removed. Three

CAREY BAPTIST CHURCH, READING
MANAGING TRUSTEES. REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
mem
rs went to
members.
unng
een
urc
mem
ers an
asso¢iale
As part of our vision for extending the Christian faith we are Committed lo helping to train people for seNing the Lord
Jesus Christ in Christian ministry. To this end we have employed tr￿0 young men as ministry trainees. These men have
been mentored and given training in ministry, in theological studies and pastoral work during the year in order lo develop
theirgtfts which may or may not ultimately be used in full-b.me pastoral work. In addition, we have supported one married
man to train for a BA in theology al a Bible college in preparation for full time Christian ministry.
We feel that il is necessary th81 the Church should make provision for younger people lo lake on leadership roles so we
held a numberof training courses during the previous year. These courses included an on-line Eldership Training course,
and we were very pleased to be able to appoint two new Elders￿rusteeS during 2024 from among the existing church
membership.
The expansion of the simultaneous translation facility of our Sunday morning services has been a great help to our
Spanish, Ukrainian, Russian, Romanian and Cantonese speaking friends and visitors.
As mentioned on page 3 of this report the Church decided at the Winning of 2023 to consider reaching OLJt by planting
a new Sunday morning congregation in Woodley, on the East of Reading. The Church committed the project to the Lord
with much earnest prayer. After careful investigation and several enquiries, a most suitable meeting venue was found
at Riveimead Primary Schwl in Woodley. and our proposal rnet with the wholehearted support and cooperation of the
stsff al the school. The first service ofthe Carey Woodley Congregation was held on 17 September2023 when 69 people
attended, including children.
During 2024 the ministry, ¢ommitsnenl and fellowship of this congregation has expanded and consolidated significanfjy
for which we're immensely thankful to God. Several 'newcomers' have joined the fellowship and have come into
membership at Carey. The consistent Bible teaching ministry of David Magowan and a few others has been a great
blessing and the group now numbers regularfy about 1W on Sunday mornings.
We're also thankfLJI to the Lord that we continue to have an ex￿lIent relationship with the staff at the school and that
we've had opportunits.es to interact with the wider community al Woodley through weekly contributions lo the Woodley
foodbank, organising ladies, craft evenings and open-air caiol singing at Christmas time, for example.
The start of Carey Woodley ne￿sSitated additional pastoral support as Pastor David Magowan had committed lo leading
the congiegalion for 500/0 of his lime, al least initially. After a brief search John Heron was appointed as an Associate
Pastor at a special Church meeting in October 2023 and tcK>k up the appointment on 1 February 2024. John and his
wife Philly have been a WDnderful blessing to the Church during 2024 and we're so pleased that John has accepted the
request from the Church to serve as a Pastor, without a time commitment.
A very significant component of the outreach of the Church has been the many activities which have taken place in 'The
Oasis., a former public house situated adjacent to the chapel property in Carey Street. The vision for the use of this
property is lo make it available as a community resour￿ and a meeting place for local people with the Church members.
11 has been used as a café, for craft activities, for Friday lunches, for a weekly community night. for craft evenings and
for English language tea¢hing. These activities have been able to run for most of the year. In addition. the use of the
building as a base for Rahab, supporting needy people suffering frDm exploitation in various forms was able to continue
throughout the year. The flats on the first floor of the Oasis building have been cccupied as required by trainees,
missionaries retuming for short term breaks and others in need.
A very helpful ministry of support, Bible study, prayer meetings and occasional coffee momings has operated during the
year amongst the ladies associated wrth the Church. There have also been several 'book groups,, meeting informally.
Our work among the young people and the elderfy has continued during the year. We have provided slimulaling and
engaging aclivrties for the young, both on Sundays and during the week. For our seniors, our focus has been on regular
individual contacts, meeting practical needs when possible, and providing a weekly lunch on most Wednesdays of the

CAREY BAPTIST CHURCH, READING
MANAGING TRUSTEES. REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
year
or
ows
Ipan
gospe
ministy.
anyo
our senior
rien
sarea
so
lo our
n involved in our regular small group meetings for Bible study, prayer and fellowship.
oca
roups an
ave
We have a vibrant 1830's group of young adults who have continued to develop friendships and serve the Church and
the community in a variety of ways.
The financial and practical help to the people of Ukraine provided by the church has helped in some small way to alleviate
the suffering and hardship caused by the ongoing war in the country.
The Church has continued to work with several other biblically-based churches in the vicinity contributing to a local help
hub called TORCH. The vision is to offer both help and hope to anybTrlywho's in need. The hub operates with volunteers
who have assisted with shopping, picking up prescriptions, gardening, DIY, form filling, transport lo hosprtal
appoinlmenls, moving house, tidying up and befriending as well as sharing the Christi8n faith. The hub has been
increasingly well used and people are being referred to il by Reading Borough Social Services and GP surgeries. During
2024 TORCH had 517 requesis for help from 330 individualslfamilies and the 70+ volunleers provided Dver 7,000 hours
of fr￿ assistan￿. TORCH now has over 40 church connections and is also valued by several local charities and
councils.
The Church has a policy of using its funds to support ministries to people as a first priority and it attempts to keep the
costs of adminislralion, Maintenan￿ and other overheads to a minimum. To this end the proportion of planned
expenditure of the Church which is directly people-relaled was about T10￿ during 2024.
A large capital expense was incurred when our previous pastor, James Muldoon, resigned. He and his family had been
living in a property owned jointly by Carey Baptist Church and Mr & Mrs Muldoon with the terms defined in a Dedaration
of Trust. The Church decided that il would be wise lo purchase the Muldwn's share of the property on his leaving the
Church, an option permitted Ljnder the Trust. This purchase was made in April 2024, so that the Church now has sole
ownership of the property.
Various maintenance worf( and practical improvements have b￿n carried out on several ofthe seven Church properties
during the year to ensure that the assets remain in good condition. The two large boilers serviang the chapel building
were replaced and all the boilers in the other properties were serviced regularfy. The fire alarms and security lighting
were serviced and tested. Various decoration work has been started on the Oasis building and it is hoped will be
completed in 2025. An evacuation drill exercise from the chapel was carried OLJI one Sunday moming dLJring a service.
The building was evacLJated in just over three minutes.
Statèmènt of Trusts8s' Rès
nsibiliti8s
The Trustees are responsible for preparing the Trustees, Report and the a¢¢ounts in a¢¢ordan¢e with applicable law
and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England & Wales reqLJires the Trustees lo prepare a¢¢ounls for each financial year
which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of
resources of the charity for that period. In preparing these accounts, the Trustees are required lo:_
select suitable accounting policies and then apply them consistently.,
observe the methods and principles in the Charities SORP.,
make judgements and eslimales that are reasonable and prudent.,
slate whether applicable accounting standards have been followed, subject to any material
departures disclosed and explained in the accounts.,
prepare the accounts on the going concern basis unless it is inappropriate to presume that the
charity will continue in operation.

CAREY BAPTIST CHURCH, READING
MANAGING TRUSTEES. REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
rustees are responsi
or
eeping proper a¢counting re¢or
at
Isc
ose ¥Mt
reasona
e a¢¢ura¢y al any
lime the financial position of the charity and enable them to ensure that the accounts comply wilh the Charilies Act
2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the Trust Deed and Constitution.
They are also responsible for safeguarding the assets of the charity and he￿￿ for taking reasonable steps for the
prevention and detection of fraud and other itregularities.
Financial review
The Church had a surplus for the year of £16,145. The Managing Trustees consider the financial position al the
balan￿ sheet dale lo be salisfactory, considering the currenl reserves. The Managing Trustees review Ihe level of
reserves each year lo ensure that it is sufficient for ongoing day-to-day purposes.
There are no investment restrictions on the Managing Truslees. The unrestricted and restricted funds may be invested
in any type of investment. The investment strategy is reviewed annually. During the year the Church has banked
with HSBC and fund balances have been invested with this bank.
Detai￿ of transactions wlh related parties are set out in Note 21 to the accounts.
The main source of funds comes from donations and legacies. These funds enable the Managing Trustees to fulfil
their aims and objectives as slated above.
11 is the current policy of the Church that unrestricted fvnds which have not been designated for a specific use should
be maintained al a level equivalent lo between three and six months, expenditure. The Managing Trustees consider
that reserves al this level will ensure that, in the event of a significant drop in funding, they will be able lo continue the
Church's ¢urrenl activities while consideration is given lo ways in which additional funds may be raised. This level of
reserves has been maintained throughout the year. At 31 De￿mber 2024, the balance on these reserves was
£60,137.
A budget for 2025 has been set based on the ChLJrch's ongoing and projected activities. In setting Ihe budget, the
Managing Trustees have considered the possible impact of the economic climate on donations. They have also
considered the change ofstsffing requirements and extra costs necessitated by the expansion of the work in Woodley.
They are optimistic both that their assumptions are reasonable and also that there is adequate capacity to
accommodate any shortf811.
Inde
endent Examiner
James Cowper Kreslon, Reading Bridge House, George Street, Reading, Berkshire, RG18LS was appointed as the
independent examiner for the year.
Plans for future
eriods
We are strongly committed lo the imperatives of Worship, Bible Teaching, Prayer, Outreach, Discipleship, Fellowship
and Youth and Community Engagement and Support. During 2024, some progress has been made in each of these
areas bul over the coming year(sl we would like lo see further significant proj￿$$ made.
We have been greatly blessed with an increase in numbers of those attending our Sunday rlloming worship and we wsh
to consolidate our Church membership into the united, cohesive, inclusive and loving Church fellowship which we klieve
the Lord requires, and we're Ihankftjl lo say that we've enjoyed for so many years. We are hoping and praying lo this
end and look foward to bein9 able to continue our regular worship, Bible teaching ministry and prayer, 9iving spiritual
and practical support to Church members and visitors.
The Church has implemented the vision to plant an evangelical congregation and Christian ministry in Woodley, to the
east of Reading. This is in line with one of our primary purposes- to spread the Christian Gospel in Reading. We are
thankful lo the Lord for the significant steps taken and the PlCMJress and consolidation during 2024 and during 2025 10
date. We need lo nurture the relationship wth Rivermead School and trust that il will grow stronger and deeper.
10

CAREY BAPTIST CHURCH, READING
MANAGING TRUSTEES. REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
e are praying
or
p,wi
oman
gui
an
asa
an
as a congregation al
eysot
al
we continue lo disciple new believers and reach out to others so Ihat they also come to realise the joy of committing
themselves to Jesus Christ as their Saviour and Lord, and thereby extend God's kingdom.
00
sin￿ the Lord has evidently been blessing the work at Woodley we believe that it's right to establish an independent
church al Woodley, probably as a CIO. This will take lime and we need wisdom to proceed al the correct rate, considering
every aspect, including the financial position for both the new Woodley church and the existing Church. We're expecting
that this might be achieved during 2026
Since one of our pastors will be transferring 1000A of his ministy and service lo the Woodley congregation once il
becomes an independent ¢hur¢h there will be a need for more pastoral staff at Carey Central. We're thankful that a new
pastor has been appointed and will take up his dLJties on 1 September 2025.
The Land Transfer Forms for the transfer of the propety share of 28 Barrington Way. Reading, RG1 6EG, which the
Church bought on 15 April 2024 were sent to the Land Registy on 20 May 2024. We are hoping to receive the updated
Title shO￿Y to confirm that the property in now registered in the sole name of the Church.
We are intending to develop further our outreach and evangelism with initiatives designed to engage with those who are
not currently Christians, so that more people in Reading and beyond are able to hear, understand and be given an
opportunity to respond lo the Christian gospel. One focus for our outreach during the coming years will be by continuing
to extend the use of the Oasis. We are keen lo support our overseas mission partners and lo encourage more of our
members lo wnsider serving in mission overseas as they feel called by the Lord. either for the short or long tem.
We intend to fvrther our work among people with overseas backgrounds by establishing strong links through our English
language school and through the use of small group Bib￿ studies. We will also continue to provide and if ne￿SSary to
extend the simultaneous translation of our Sunday morning services in other languages.
There is a need for continuing pastoral help and support for families, men and ladies in our fellowship and more widely
in the community. We intend lo address these needs by various initiatives giving practical and spiritual help in line with
our primary purpose of seeking to advance the Christian faith in the lives ol people in our community and beyond. We
also expect to maintain contacts with local like-minded, Bible-based, Church fellowships during the coming years.
On tthawoftre Man￿1￿ Tr(Etees."
Dr James E Cordle
Mr David T Magowan
Trustee
Trustee
Dated.. 8 September 2025
Dated.. 8 September 2025

CAREY BAPTIST CHURCH, READING
INDEPENDENT EXAMINER'S REPORT
TO THE MANAGING TRUSTEES OF CAREY BAPTIST CHURCH, READING
I report to the charity trustees on rny examination of the accounts of the charity for the year ended 31 December 2024
which are sel out on pages 13 10 28.
Responsibilities and basis of report
As Ihe charity's trustees you are responsible for Ihe preparation of the accounts in accordance with the requirements
of the Gharilies Act 2011 I'lhe Acl'l.
I report in respect of my examination of the charity's accounts carried out under section 145 of the Act and in carrying
out my examination I have followed all the applicable Directions given by the Charity Commission under section
14515llbl of the Act.
Independent examiner's statement
Since the charity's gross income exceeded £250,000 your examiner musl be a member of a body listed in section 145
of the Act. I confirm that l am qualified to undertake the examination because l am a member of the Institute of
Chartered Accountants in England and Wales, which is one of the listed bodies.
I have completed my examination. I confi'rm that no material matters have Come lo my attention in ¢onne¢tion with
the examination giving me cause to believe that in any material respect..
aC￿untIng records were not kept in respect of the charity as required by section 130 of the Act., or
the accounts do not accoid with those records., or
the accounts do not comply with the applicable requirements concerning the fonn 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 ol an independent examination.
I have no ¢on¢ems and have Come across no other matters in ¢onne¢lion 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.
This report is made solely to the Charity's Members, as a body, in accordance with Part 4 of the Charities IA¢¢ounts
and Reports) RegLJlations 2008. My work has been undertaken so that I might state lo the Charity's Members those
matters l am required to state to them in an independent examiner's report and for no other purpose. To the fullest
extent permitted by law, I do not accept or assurne responsibility lo anyone other than the Charity and the Charity's
Members as a body, for my work or for this report.
Signed
I￿P,
Alexander Peal BSclHonsl FCA DChA
Chartèr8d Accountant
Address-
Gwrge Street
Reading.
RG1 8LS
Date 09 September 2025
12

CAREY BAPTIST CHURCH, READING
STATEMENT OF FINANCIAL ACTIVITES
FOR THE YEAR ENDED 31 DECEMBER 2024
Unrostrlctod Doslgnatsd Rgstrl¢t&d
Funds
funds
Funds
Totsl
2024
Total
2023
Notss
Income from:
Donations and leg8cie8
Charitable activities
Investments
Other
526,685
23,174
8,042
3.184
52.367
579.052
23,174
8,042
3.184
640,295
19,693
4,371
2,585
Total income
561.085
52.367
613.452
666,944
Ex
enditure on:
Charitable activities
Support forAway Missions
Support for Home Missions
Charitable activities
65.813
370.119
54,414
24.713
10,392
90.526
440.814
54,414
123,490
473,677
56,668
60,303
Total charitable expenditure
490.346
60.303
35.105
585.754
653,835
Goveman¢e ¢osls
11.553
11.553
11,145
Total expenditure
501,899
60,303
35.105
597.307
664,980
Net income I lexpenditurel
59,186
160.3031
17.262
16.145
1,964
Transfers between funds
120,0401
17,000
3.040
Net movement in funds
39.146
143,303}
20,302
16.145
1,964
Reconciliation of funds
Total funds at 1 January 2024
1.550,797
192,599
14.178 1.757.574
1,755,610
Totsl funds at 31 December
2024
1,589,943
149,296
34.480 1,773,719
1,757,574
The Charity has no recognised gains or losses oth&r than the results for the wriod as set out above.
Fund comparatives are disclosed in note 20.
The notes on pages 15 to 27 form part of these financial statements.

CAREY BAPTIST CHURCH, READING
BALANCE SHEET
AS A T 31 DECEMBER 2024
2024
2023
Notes
Flxod assgts:
Tangible assets
10
1.612,959
1,367,137
Current assets-
Debtors
Cash at bank and in hand
11
78,504
94,599
81,202
321,055
173,103
402,257
Liabilities:
Creditors.. amounts falling dLJe within
one year
12
112,3431
111,8201
Net ¢urrent assets
160,760
390,437
Total assets less current liabilities
1.773.719
1,757,574
Total net assets
1,773,719
1,757,574
The funds of the charity:
Unrestricted funds
Free reserves
1.589,943
149,296
1,550,797
192,599
Designated funds
1.739.239
1,743,396
Restricted funds
14
34,480
14,178
1.773,719
1,757,574
The accounts were approved by the Managing Trustees on 8 September 2025 and are signed on their behalf by..
Dr James E Cordle
Trustee
Mr David T Magowan
Trustee
The notes on pages 15 to 27 form part of these financial Statements.
14

CAREY BAPTIST CHURCH, READING
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 DECEMBER 2024
Total
funds
2024
Total
funds
2023
Notes
Cash flows from operating activities:
Net Gash provided by operating
activities
22a
25,278
9,628
Cash flows from investing activiti¢s=
Purchase of property, plant and
equipment
1251,7341
111,6101
Net cash used In Investlng a¢tlvltles
1251,7341
111,6101
Cash flows from financing activities:
Repayment of loans
Plet cash used in financing activities
Changg in cash and cash oquivalonts
in the year
1226,4561
11,9821
Cash and ¢ash equlvalents at the
beginning of thè y•ar
321,055
323,037
Cash and cash equivalents at the end
of the year
22b
94,599
321,055
The notes on pages 15 to 27 form part of th888 financial statements.

CAREY BAPTIST CHURCH, READING
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Accounting policies
1.1 Basis of preparation
The financial stslemenls have been prepared on a going ¢oncem basis and in accordan¢e with Accounting
and Reporting by Charities.. Statement of Recommended Practi¢e applicable to Charities preparing their
accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland
IFRS 1021 (effective 1 January 20191- (Charities SORP IFRS 10211 and the Charities Act 2011 and applicable
regulations. The accounts have been prepared under the historical cost convention with items recognised at
cost or transaction value unless otherwise stated in the relevant note to these accounts.
Unrestricted funds are the general funds of the Church that are not subject lo any restrictions regarding their
use and are available for application on the general purposes of the Church. Funds designated for a particular
purpose by the Managing Trustees are also unreslricled.
The accounts include all transactions, assets and liabilities for which the Church is responsible in law. They do
not include the accounts of other groups that owe their main affiliation lo another body or those that are informal
gatherings of church members.
The Charity constitutes a public benefit enlily as defined by FRS 102. The Slalemenl of Cash Flows has been
prepared on the gross I direct basis, as permitted by the Charities SORP.
1.2 Income
All income is included in the Statement of Financial Activities when the charity is legally entitled to the income,
when the amount can be quantified with reasonable accuracy and re￿Ipl is probable. The following specific
policies are applied to particular categories of income..
Legacies are recognised in the accounts when the money is receivable.
Income from donations and gifts arose from giving by church members and where applicable gift aid relief is
recognised on an accruals basis at the same point as the original donation.
Donated assets which are capilalised are included in the accounts al fair value. In accordance with the
Statement of Recommended Practi￿ no amounts are included in the financial slalements for services donated
by volunteers.
1.3 Expenditure
Expenditure is recognised on an a￿[ualS basis as and when a legal or consttuclive obligation arises.
The Church's objects are the advancement of the Christian faith and other such charitable purposes. All grants
and any expenditure are made in line with these objects and are Charged lo the Statement of Financial Activities
in the year they are approved.
Siaff costs are allocated be￿een Away Missions and Home Missions on the basis of salaries paid to staff and
the lime spent with each mission. Other costs relate to Home Missions and are not apportioned.
Governan￿ costs include those costs associated with meeting the constitutional and statutory requirements
of the charity and include the indepèndent review fees.
16

CAREY BAPTIST CHURCH, READING
NOTES TO THE FINANCIAL STATEMENTS CONTINUED
FOR THE YEAR ENDED 31 DECEMBER 2024
Accounting Policies Icontinuedl
1.4 Tangible fixed assets and depreciation
Tangible fixed assets other than freehold land are slated al cost less depreciation. Expenditure on assets
costing less than £1,000 is written off in the year of purchase. Depreciation is provided at rates calculated to
write off the cost less estimated residual value of each asset over its expected useful life, as follows..
Fixtures, fittings & equipment
25Q/o Straight line basis
Depre¢ialion on fixed asset properties has not been provided for in these accounts as any Charge is Considered
not lo be rnalerial, on the basis that the asset has a very long useful life, andlor a residual value, based on its
CLJrrent value, which is substantially in excess of its carrying value.
Fixed Assets are reviewed on an annual basis to confirm that the net realisable value (whether through Dngoing
use or resale) is not less than book value. sin￿ the vast majority of fixed assets comprise land and buildings
that were PLJrchased a long time ago and have a book value below their market value, such a review is not
detailed. Land and Buildings are held for ongoing use within the charity and, as such, the Managing Trustees
do not believe il appropriate lo revalue such assets to their current market value.
Donated properties have been included in the Balance Sheet al their current value al the dale of the gift.
1.5 Debtors
Trade and other debtors are recognised 81 the settlement amount after any trade discount offered.
Prepayments are valued al the amount repaid nel of any trade discounts due.
1.6 Cash at bank and in hand
Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of three
months or less from the date of acquisition or opening of the deposit or similar account.
1.7 Liabilities
Creditors and provisions are re¢ognised where the ¢harily has a present obligation resulting from a past event
that will probably ￿sUIt in the transfer of funds to a third paty and the amount due to settle the obligation ¢an
be measured or estimated reliably. Creditors and provisions are normally re¢ognised al their settlement
amount after allowing for any trade discoLJnts due.
The charity makes grants to financially support missionaries and mission organisations overseas and in the
UK. Where an individual or organisation has bèen supported by the charity for a nLJmber of yèars, strict
Compliance with the Charities Statement of Recommended Practice may règard some arrangements as
constituting constructive obligations such that future years, SLJPPOrt is accounted immediately as a liability. The
Trustees are confident that the individuals and organisations supported would not view their SLJPPOrt as an
open-ended obligation on the part of the charity as they are aware that all support is reviewable annually.
1.8 Leasing and hire purchase commitments
Rentals payable under operating leases ale charged against income on a straighl-line basis over the peri(MJ
of the lease.
1.9 Government grants
Government grants, including Covid-19 related grants, are credited to the Statement of financial activities as
the related expendilure is incLJrred.
17

CAREY BAPTIST CHURCH, READING
NOTES TO THE FINANCIAL STATEMENTS CONTINUED
FOR THE YEAR ENDED 31 DECEMBER 2024
Accounting Policies Icontinuedl
1.10 Accumulated funds
Restricted funds are funds subject lo specific Irusls, which may be declared bytheirdonors, orwith the authority
such as in a public appeal, or created through legal process, but still wthin the wider objects of the charity.
Restricted funds may be restricted income funds, which are expendable at the discrelion of the Managing
Trustees in furtherance of particular aspects of the objects of the charity. They may also be capital funds where
the assets are required to be invested, or retained for actLJal use, rather than expended.
Fellowship Fund - this is designated to meet the financial needs of people connected with the Church who
experien￿ unusual financial needs. Members occasionally give directly to this fund and transfers are also
made from the General Fund to ensure needs are able lo be met on an ongoing basis.
Earmarked Gifts from time to b'me members give money and request that it be passed on to a particular
organisalion. These are many and varied and as such are treated as one reslricled fund. The balance on this
fund usually relates lo a special ChrislrNas offering which is kept open for a couple of weeks lo ensure the full
amount Can be transferred in one payment.
Designated funds are part of unrestricted funds that are expendable at the discretion of the Managing Trustees
in furtheran￿ of the Church's charitable objects. A part of the Unrestricted funds that is earmarked for a
particular project may be designated as a separate fund, bul these Designated funds have an administrative
purpose only, and do not restrict the Managing Trustees, discretion lo apply the fLJnd. The Repair FLJnd was
designated lo ensure that ftjnds were put aside to cover significant repair bills which may arise and lo a¢¢rue
for such expenditure over time.
2 Donations and legacies
Unrestricted Restricted
funds
Funds
Total
2024
Total
2023
Donations and gifts
Legacies re￿iVed
526,685
52.367
579.052
575,714
64,581
526,685
52,367
579,052
640,295
In 2023, of total income from donations and legacies, £552,556 was lo unreslricled funds and £87,739
was lo restricted funds.

CAREY BAPTIST CHURCH, READING
NOTES TO THE FINANCIAL STATEMENTS CONTINUED
FOR THE YEAR ENDED 31 DECEMBER 2024
3 Invg$tment Income
2024
2023
Interest receivable
8,042
4,371
4 Income from charitable activities
2024
2023
Charitsble activity receipts
23,174
19,693
Income from charitable activities relates directly to social and church events during the year. In 2024 and
2023 all income from charitable activities was to unrestricted funds.
5 Other income
Unrestricted Restrictsd
funds
funds
Totsl
2024
Total
2023
Other income
3,184
3,184
2,585
In 2023, all other income was to unrestricted funds.

CAREY BAPTIST CHURCH, READING
NOTES TO THE FINANCIAL STATEMENTS CONTINUED
FOR THE YEAR ENDED 31 DECEMBER 2024
6 Total •xpondlturg
Staff Daprèciation
Costs
Oihar
Grant
funding
Total
2024
Total
2023
costs
Charitable activities
Su
ortforAwa
Missions
Activities undertaken
directly
Grant funding of
activities
90,526
90.526
123,490
Total
90,526
90.526
123,490
ort for Home Missions
Activities undertaken
directly
201,324
201.324
185,938
Grant funding of
activities
Admin and Premises
costs
20,876
20,876
59,957
55,225
5,912
157,477
218,614
227,782
Total
256,549
5.912
157,477
20,876
440,814
473,677
Charitable actiwties
ies un
directly
en
2,648
51.766
54.414
56,668
259,197
5,912
209,243
111,402
585.754
653,835
Governance costs
11,553
11.553
11,145
259,197
5,912
220,796
111,402
597,307
664,980
Governance costs include payments to the auditor of £2,960 including VAT for examination fees 12023..
£1,584) and £nil12023'. £nill for other servI￿s.
20

CAREY BAPTIST CHURCH, READING
NOTES TO THE FINANCIAL STATEMENTS CONTINUED
FOR THE YEAR ENDED 31 DECEMBER 2024
Grants payablg
Unrestricted Restricted
funds
funds
Total
2024
Total
2023
Grants lo inslilulions
Grants to individuals
9.493
66,804
6.943
28,162
16,436
94,966
52,484
130,963
76.297
35.105
111.402
183,447
Grants to
Grants to
Instltutlons Indlvlduals
Total
2024
Total
2023
Support forAway Missions
Support for Home Missions
7.943
8,493
82.583
12,383
90.526
20,876
123,490
59,957
16.436
94.966
111.402
183,447
8 Managing Trustees
None of the Managing Trustees lor any persons connected with them) received any remuneration in return
for their services as Trustees during the year. Four Managing Trustees12023.' three) were also ministers of
the Church and were remunerated for their services as agreed.
Remuneration is authorised under section 10 of the Constitution in respect of the Pastors and any assistant
Pastors who are engaged as Ministers of Religion. They may receive reasonable remuneration for their work
in the service of the Church notwithstsnding that they are Managing Trustees of the Church. The Pastors
must be absent from the part of any meeting where the performance, remuneration or other terms and
conditions of their engagemenl are discussed, and may not vote on any such matter.
In line with the published practice of other non-conformist churches, remuneration of trusteeemployees is
required to be disclosed by the Charities SORP IFRS 1021, with the exception Df the Ministers of Religion for
whom special arrangements are deemed to exist. In the year £123,45712023'. £109,886) was paid in respect
of remuneration and pension contributions to four Pastors and assistant Paslors12023'. three) who were also
Managing Trustees.
Further details of employment and pastoral ¢osts are shown in note 9.
None of the Trustees was paid or reimbursed for expenses relating lo their services during the year12023..
nill. Trustees and employees alike are reimbursed for routine oul-of-pockel expenses on behalf of the Church
that are unrelated lo their services.
21

CAREY BAPTIST CHURCH, READING
NOTES TO THE FINANCIAL STATEMENTS CONTINUED
FOR THE YEAR ENDED 31 DECEMBER 2024
Employees & Ministers
Number of employees & ministers
The average monthly number of employees and ministers during the year was..
2024
Number
2023
Number
Pastoral and Ministry Worker3
Adminislration
12
13
Employment and ministerial costs
2024
2023
Wages and salaries
Social security costs
other pension costs
223,911
13.270
22,016
206.835
11,079
21,111
259,197
239,025
There were no employees or ministers whose annual emoluments were £60,000 or more.
10 Tangible fixed assets
Land and
buildings
Fixtures.
fittings &
¢quipm&nt
Total
Cost
Al 1 January 2024
Additions
Disposals
1,351,703
249,120
86,317
2,614
1,438,020
251,734
At 31 Dac8mb&r 2024
1,600,823
88,931
1,689,754
Depreciation
Al 1 January 2024
Charge for the year
70,883
5,912
70,883
5,912
At 31 December 2024
76,795
76,795
Net book value
At 31 December 2024
1.600.823
12,136
1.612.959
Al 31 December 2023
1,351,703
15,434
1,367,137
22

CAREY BAPTIST CHURCH, READING
NOTES TO THE FINANCIAL STATEMENTS CONTINUED
FOR THE YEAR ENDED 31 DECEMBER 2024
10 Tangible fixed assets Icontinuedl
In accordance with the Charities SORP IFRS 1021 the Church's freehold properties and other interest in land
were capitalised in a previous year's financial statements at their original historical cost. A figure for the
historical cost of each property has been ascertained by reference lo the property deeds, land registry records,
minutes of Church meetings and other financial documents and records. This valuation is regarded as the
asset's initial carrying amount and is not regarded as a revalLJation. The details of the prope￿eS and their
arrying values are shown below..
Carey Baptist Chapel was acquired in 1870. The cost of the land and Ihe construclion of the chapel building
and galleries totalled £3,039.
The Carey Centre was transferred lo the Church in 1992 from the Congregational Melhodisl Chapel and
Trust Property for nil consideration. The Centre has been capilalised al a cost of £1.
32 Western Elms Avenue was purchased in 1959 al a cost of £3,175 and it was resolved by the church in
July 2009 to be held and used for the general purposes of the Church.
5 Carey Street was purchased in 1997 and was subject to considerable renovation bringing the lolal cost lo
£97,000. The propety was purchased for accommodation needs of the Church.
The Trustees consider it impractical lo revalue the Church buildings but the Church-owned buildings are
insured for £9,926,191 12023.. £8,458,290).
All of the tangible fixed assets of the Church so recognised have been placed in a separate designated fund
named the Carey Property & Equipment Fund. The fund is part of the Unrestricted funds and the designation
is for administrative purposes only, and does not restrict the Managing Trustees discretion to apply the fund.
28 B8rringlon Way was jointly pur¢h8sed with Pastor & Mrs Muldoon in 2008. The Church's share of the
property at acquisition was 61.71°/D that was acquired at a cost of £187,896. Either party had the option under
a written agreement to make Capital payments to the other and alter their share in the property up lo and
including 1000/D ownership. In 2012, Pastor & Mrs Muldoon purchased an additional 3.23010 of the property
from the Church. On 15 April 2024 the Church purchased the remaining 41.52 /0 from Mr & Mrs Muldoon for
£249,120. As a result, at 31 December 2023 the Church's share of the property was 58.480/0 and at 31
December 2024 the share was 100°A.
During 2009 the Church purchased The Oasis, 21 Baker Street, Reading. a former public house al a price of
£322,900. Application for planning pemiission to change the use of the property from a Public House to a Place
of Worship with ancillary residential accommodation was made during 2011 and full planning permission was
granted on 28 March 2011. Building Regulations approval of the development plans was received on 4 August
2011. Development of the property commenced in November 2011 and was completed in 2012.
During 2017 the Church received a legacy of a property al 203 Caversham Road. This propety was valued
at £400,000. The hoLJse was refurbished during 2018. During 2024 the propety was used for ancillary
residential accommodation lo meet the needs of the Church.
23

CAREY BAPTIST CHURCH, READING
NOTES TO THE FINANCIAL STATEMENTS CONTINUED
FOR THE YEAR ENDED 31 DECEMBER 2024
11 Dgbtors
2024
2023
Income lax recoverable
Prepayments and accrued income
64,899
13,605
68,592
12,610
78,504
81,202
12 Creditor5- amounts falling due within one year
2024
2023
Taxes and social security costs
Accruals
4,170
8,173
3,205
8,615
12,343
11,820
13 Pension and other post-retirement benefit commitments
The Church does not operate a pension scheme. The pension cost charge represents contributions paid
by the Church into the personal pension schemes of certain employees. Outstanding contribLJtions
totalling £1,111 were payable at the year end12023'. £8161.
14 Restricted funds
The income funds of the charity include restricted funds comprising the following unexpended balances of
donations and grants held on trust for specific purposes..
Movement in funds
Incoming Resources
r•$our¢o$
•xpended
Balance at
1 January
2024
Transfers Balance at 31
D•cember
2024
Fellowship FLJnd
Earmarked Gifts
893
13,285
10,000
42,367
12,6751
132,4301
3,040
11,258
23.222
14,178
52,367
135,1051
3,040
34.480
24

CAREY BAPTIST CHURCH, READING
NOTES TO THE FINANCIAL STATEMENTS CONTINUED
FOR THE YEAR ENDED 31 DECEMBER 2024
14
Rostricted funds {continu•dl
Movement in funds
Incoming Resources
rèsourcès
exp8nd8d
Balance at
1 January
2023
Transfers Balance at 31
Dècombor
2023
Fellowship Fund
Eamarked Gtfts
4,693
31,456
14,8001
1105,9101
1,000
893
13.285
87,739
36,149
87,739
1110,7101
1,000
14,17B
15 Deslgnated funds
The inwme funds of the charity include the following designated funds which have been sel aside out of
unrestricted funds by the trustees for specific purposes".
Movement in funds
Incomlng Resoureo$
resources
expended
Balance at
1 January
2024
Transfors Balancè at 31
December
2024
Repairs Fund
Carey Property Fund
Carey Woodley Fund
11,533
103,215
77,851
127,9961
17,000
537
103,215
45,544
132,3071
192,599
160,3031
17,000
149,296
Movomgnt In funds
Incoming Resources
resources
expended
Balance at
1 January
2023
Transfers Balance at 31
December
2023
Repairs Fund
Carey Property Fund
Carey Woodley Fund
52,969
103,215
90,000
155,1861
13,750
11,533
103,215
77,851
112,1491
246,184
167,3351
13.750
192,599
The Carey Property and Equipment Fund arose from the inclusion in the a¢¢ounls of the carrying value of
assets previously excluded and are not regarded as a revaluation. Further detsils are shown in note 10.
25

CAREY BAPTIST CHURCH, READING
NOTES TO THE FINANCIAL STATEMENTS CONTINUED
FOR THE YEAR ENDED 31 DECEMBER 2024
16 Movement in funds
Balan¢e at
1 January
2024
In¢oming Resources
resources
expended
Transfers Balan¢e at 31
December
2024
Free Reserves
Designated funds
Restricted funds
1,550,797
192,599
14,178
561,085
1501,8991
160,3031
135,1051
120,0401
17,000
3,040
1.589.943
149,296
34,480
52,367
1,757,574
613,452
1597,3071
1,773,719
Balance at
l January
2023
In¢oming Resources
resources
expended
Transfers Balan¢e at 31
December
2023
Free Reserves
Designated funds
Restricted funds
1,473,277
246,184
36,149
579,205
1486,9351
167,3351
1110,7101
114,7501
13,750
1,000
1,550.797
192,599
14,178
87,739
1,755,610
666,944
1664,9801
1,757,S74
17 Analysls of net assets betw&•n funds
Unrestricted Designated
funds
funds
Restricted
Funds
Total
Fund balances at 31 December 2024 are
represented by..
Tangible fixed assets
Current assets
Creditors.. amoLJnts falling due within one
year
1,509,744
92,560
103,215
46,081
1,612,959
173,103
34,462
{12,3431
112,3431
1,589,961
149,296
34,462
1,773,719
Fund balances at 31 December 2023 are
represented by..
Tangible fixed assets
Current assets
Creditors.. amounts falling due within one
year
1,263,922
298,695
103,215
89,384
1,367,137
402,257
14,178
111,8201
111.8201
1,550,797
192,599
14,178
1,757,574
26

CAREY BAPTIST CHURCH, READING
NOTES TO THE FINANCIAL STATEMENTS CONTINUED
FOR THE YEAR ENDED 31 DECEMBER 2024
18 Contingent liabilities
There were no contingent liabilities oulslanding al the balance sheet dale.
19 Commitments under operating leases
Al 31 December 2024 the charity had no annual commitments under non-cancellable operating leases.
20 Prior year fund comparatives for the Statement of Financial Activities
Unrestricted Dèsignated Restricted
Funds
funds
Funds
Total
2023
Notes
In¢om¢ from:
Donations and legacies
Charitable activities
Investments
Other
552,556
19,693
4,371
2,585
87,739
840,295
19,693
4,371
2,585
Total income
579,205
87,739
666,944
Ex
endlture on..
Charitable activities
Support for Away Missions
Support for Home Missions
Charitable activits'es
62,693
356,429
56,668
60,797
49,913
123,490
473,677
56,668
67.335
Total charitable expenditure
475,790
67.335
110,710
653,835
Governance Costs
11,145
11.145
Total expenditure
486,935
67,335
110,710
664,980
Net income I lexpenditure)
92,270
167,335)
22.9711
1,964
Transfers between funds
114,7501
13,750
1,000
Net movement in funds
77,520
153,5851
21.9711
1,964
Reconciliation of funds
Total funds al 1 January 2023
1,473,277
246.184
36,149 1.755,610
Total funds at 31 December
2023
1,550,797
192,599
14,178 1,757,574
27

CAREY BAPTIST CHURCH, READING
NOTES TO THE FINANCIAL STATEMENTS CONTINUED
FOR THE YEAR ENDED 31 DECEMBER 2024
21 Related party transactions
The Church reimburses ils employees for incidental expenses incurred in connection with ils normal activities.
DLJring the year the four Trustees who are engaged as Ministers of Religion were reimbursed £15,357 {2023'.
three Trustees reimbursed £15,505) for expenses incurred.
During the year the Church paid £6,000 12023.. £6,050) to Cranford Support Trust of which Pastor David
Magowan is a trustee.
During the year the ChLJrch paid £2,00012023'. £2,000) to the South Central Gospel Partnership of which Pastor
Richard Baxter has been a trustee from 6 March 2024 and ex Pastor James Muldoon was a trustee to 1 April
2024.
During the year earmarked gifts to trustees and their related parties totalled £nil12023'. £20,000).
The aggregate donations received from Trustees and their related parties were £78,95612023.. £64.9751.
22
a R¢¢on¢lllatlon of net In¢ome to net ¢ash flow from operatlng a¢tlvltles
2024
2023
Net income for the year las per the ststsment of financial activities)
Adjustments for:
Depreciation charges
Decrease I Ilncreasel in debtors
Prepayments and accrued income
Creditors and accruals
16,145
1,964
5,912
3,693
19951
523
4,813
1,672
{3981
1,577
25,278
9,628
b Analysis of cash and cash equivalents
2024
2023
Cash in hand
94,599
321.055
28