Charity Number . 1185692 STOUR VALLEY BAPTIST CHURCH UNAUDITED REPORT AND ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2024 STOUR VALLEY baptist church STOUR VALLEY BAPTIST CHURCH TRUSTEES, REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 The Trustees present their report and the accounts for the year ended 310ecember 2024 CONTACT The Church can be contacted via 2 Elm Road. Shipston on Stour, Warks, CV36 4FA OBJECT The vision of Stour Valley Baptist Church (the Church) is.. to protl8im Jesus Christ to people today to make disciples to build God's church and see revival to plant new churches to reach the nations In pursuit of these objects the trustees expend the charity's resources on.. employing a Minister, a Children'5 Worker and a Digital Marketing Manager and paying their expense5. (Ministryl paying for the organi53tion and hosting of event5 and project5 that provide an opportunity for people to find out about Jesus. (Mission) hiring premises 3nd providing equipment that provides 3 meeting pla￿ for members and V151tors Iupkeep of church premise51 necessary administration incurred in the running of the church. IAdministrationl The Church operate5 an unrestricted general fund and a restricted fund known 3S the"Tithe Fund" Appioximately IO% of the income to the general fund is tr3n51erred to thi5 fund throughout the ye3r. The monies the fund are donated to other organisations and people with similar objects to the Church. Tithe Fund recipients are selected by the Trustees from peopSe and organisations known to the mernbers of the Church. The vast majority of these monie5 are allocated to people working over5ea5. CONSTITUTION stour Valley Baptist Church ISVBCI was planted in February 1999 from Chipping Campden Baptist Church. It adopted a constitution in 2004 and became a separate entity in charge of it's own fin3nces from l January 2005. The Church is a registered charity in England- number 1185692 The Church is run on a day to day basis by a Lead@rship Team that norrnally ificludes a majority of Deacons who act as Trustees to the Church. STOUR VALLEY BAPTIST CHURCH TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 Icontinuedl During the year ended 31 December 2024 the following people formed the leadership team and wefe trustees of the Charitv.. Revd D Pulham linducted 16.9.20001 l French (appointed 21.04.241 S Chapm8n Iie3ppointed 21.04.241 B Sourc@ lappoinied 23,4.231 L Bolderston13ppointed 23.4.231 R. French (Èppointed 1014.22- 21.4.241 L Holcombe lappointed 21.04.241 Vacancv Minister and Trustee Secretary, Deacon and Trustee Deacon and Trustee Deacon and Trustee Deacon and Trustee Treasurer Hnd Trustee Treasurer and Trustee Deacon and Trustee Deacons are norm311y elected, by the church members, at the Annual General Meeting IAGMI for a terrn of three years. Although In the case of vacancies Wlthin the year nominations are sought at church meetings. REV5EWOFTHEYEAR AND FUTURE DEVELOPMENTS 2024 saw u5 continue to meet weekly on Sunday momings at Shipston Primary School. We gradually grew as a Church community, with the Dpportuniiy to welcome many new visitor5. The majorlty of those visitors decided to remain with u5 and commit to SVBC a5 their Church commuDitv. We held our flrst'weekend at Home, In June 2024 enabling the church to have an enriching time of fellowshlp and teaching over a whole weekend. We also saw our lirst bapt15m for 7 yedr5 take plate In September. Both events underline our continued commitment to fulfil our objects lo'build God's Church, nd to 'make disciple5'. A growin8 number ol regular churth attenders are 0150 Part of a small group. All groups seek to relate faith to everyday life throu8h study and di5CU55ion. We have run an after-school club at Shipston Primary School as well a5 monthly assemblies at Ilmin8ton Prirn3ry School. We a150 continued to run a mid weÈk toddler Eroup,'Little Fishes. which continues to be valued by a ¥rowlng number of Mums and carers. We have continued to work closdy with the other churche5 in the town on a variety of other projects including Messy Church Èvents for families and re8ular'Holiday at Home, days lor the elderly and the housebound. All the above activitles reflect our comtnitment'to proclaitn JÈSUS Christ to people today and to make disclples. ol those who have chosen to put their18ith in Hitn. They also demonstrate the public beriefit generated by the charity. The link, first established in 2005. with Mi55ionaries In Myanmar has bÈÈn malntained, as have links in Nepal and Spain and Asia. such actiwtiÉs demonstrate the Church's commitrnent ro'reach the nations, In real and t3ngible ways. STOUR VALLEY BAPTIST CHURCH TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 Icontlnuedl FINANCIAL REVIEW The Deacons have been coD5tantly r@vlewSng our linanclal results as detailed un pages 5 to 12. The Church had seen B subsiantialfall in givinE and laced a challenging d8ficit lorthe year. As parl of their response to this the Trustee5 decided to Ènd the employment of a part time Digltal Marketing M8na8er. This p05t came to an end 22.11.24 RISK REVIEW The Leadership Team has conducted its own review of the major risks to which the charity 15 exposed and mechanisms have been established to mitigate those risk5. RESPONSIBILITIES OF THE TRUSTEES Charity law require5 the Deacons to prepare financial statements lor each financial ye3r which give a true aDd13ir view ol the state of afldif5 01 the Churcl) as at the balance Sheet date and ol its incoming resour￿5 and application of resources, including income and expenditure for the financial year. In preparing those financial statements the deacons should follow best practice and select suitable accounting policies and apply them consistently make judgements and estimate5 that are reasonable and prudent and prepare the financial statement5 on the going concern basis unless It is inappropri3te to assume that the Church will continue on that b3515. The Deacons are responsible lor m8intalning proper 3ccounting record5 which disc105e 3t any time the financial position of the Church and to enable them to ensure Ihat the financial statements comply with charity legislation. The Deacons ale a150 responsible for safeguarding the assets ol the Church and hence for t3kinB reasonable steps for the prevention and detection of fraud and other irregularities. PUBLIC BENEFIT The Trustees have complied with their duty to have due regaid to the guidance on public benefit published by the Charity Commi55ion in exercising their powers and duties. Examples of this public benefit can be found in othef parls of this report. Approved by the Trustees on .2025 and signed on their behalf J French Secret3ry, Deacon and Twstee INDEPENDENT EXAMINERS REPORT TO THE TRUSTEES AND THE MEMBERS OF STOUR VALLEY BAPTIST CHURCH IN RESPECT OF THE YEAR ENDED 31 DECEMBER 2024 I report on the accounts of the Charity for the year ended 31 December 2024. which are Set out on page5 S to 12. Respectlve Te5ponsibilities of deacons and independent examtners The charity's trustees are responsible lor the preparation of the accounts. The charity's trustee5 consider that 8n audit is not required lor this year under section 144121 of the Charities Act 2011 Ithe 2011 Act) and that 3n independent examination is needed. It is my responsibility to.. examine the accounts under section 145 of the 201L Act to follow the procedures laid down in the General Directions given by the Charity Comrnis5ion (under section 14515llbl ol the 2011 Act., and t0 5t3te whether particular matters have come to my attention. Basis ol Independent examiners report My exatnination was carried out in accordance with the General Directions given by the Charity Commissioners. An examinatlon includes review of the accounting record5 kept by the charity and a comparison of the accounts presented with those recoids. It also includes consideration ol any unusual iterns 01 disclosures in the account5 and seeking exp12n3tion5 Irorn you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit. and consequently no oplnion is given as to whether the accounts present a 'true and lair view and the report is limited to those matters set out in the statement below. Independent examiners report In connection with my examination, no matter has come to my attentlon.. whlch gives me reasonable cause to believe that in any material respect the requlrements.. to keep proper accounting records In accordance with section 130 01 th& 2011 Act and,. to prepare accounts which accord with the accounting records and comply with the accounting requirernents of the 2011 Act. have not been met.. or to which, in my opinion, attention should be dTawn In order to enable a pioper understanding ol the account5 to be reached. Danlel Jame5 Colwell FCCA CTA A Daniel Colwell & Co Chartered Certlfled Accountant and Chartered Tax Advisor .2025 I lil (n Q (ri Iii- w o Y￿UV STOUR VAILEY BAPTIST CHURCH NOTESTO THE ACCOLINTS FOR THE YEAR ENDED 31 DECEMBER 2tk24 I ACCOUNTING POLICIES The account5 have been prepared under the hlstoric31 cost convention and in accordance wirh.. thÈ Statement of RecommendÈd Practice,. Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS1021 i$5ued on 16 July 2014. and with the (harities Act 2011. The Charity meets the definition of a public benefit entity under FR5102. The principal actounisng policies adopted in the prep?ration of the financial statetnents have been reviewed in light of adopting FRS102 as opposed to the prevlously 3dopted FR55E. No change in accountlng policie5 was seen to be needed and no restarement of comparative figures wa5 required. Incoming resources Income received from donations and 8rants is included in incoming resource5when these are receivable. Income tax recovered is Included in the periixj which the donation that gave rise to it occurred. Interest Is Included when receivable by the Church. ln order to perform It's charitable acisvities the Churih Is dependant upon vcluntary help provided by members and friends of the Churth. The value of such help is imposslble to quantify ènd is not included in the accounts. Fundaccountin Funds held bythe Church are either.. Unrestricted 8&neral funds- these are funds which can be used in accord3nce with the charitable oblÈtts of the Church Restricted funds these are funds thai can only be used for particular purposes within the objects of the Church. The Church currently operates restricted funds as follows.. The tithe fund for donations In support of causes that have sltnilBr objects to the Church Holiday at Home to be used on a holiday at home event for eldedy. Vlslon Fund monie5 are held to further the vision statement as speclfSc needs arise. This fund is nowclosed. Welfare fund for the relief of hardshlp locally The Youth Prolert Fund represÈnts monles transferred to the care of the Baptist Church from the 5hlpston joint churches during the year under review. Donations speclfically for those funds rnay be only used for the defined object of that fund. STOUR VALLEY BAPTIST CHURCH NOTESTO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2024 ACCOUNTING POLICIES l£ontinuedl Gront5 mtsde The Charity rTiakes grant5 to organi5ations and indwiduals worklnE In the UK and overseas having similar objec15 to the charity. Grants are made at the discretion of the Trustees and are usually to or8anlsation5 or indivlduals wirh whorn the thurch body has an historic or active working rÈlatlonship. Pen&ons The Charity Is an employer participatlng in a pension scheme known as the Baptist Pension Scheme I"The Scheme I which is administered by the Pension Trustee IBaptlst Pension Trust Litniiedl. The Scheme is a separaie1egal entity and the assets of the Scheme are held separately from those of the Ernployer and the other pèrticipating employers. Forany month, eath particlpating employer the Scheme pays tontrlbutlons 45 Set out in the khedule of Contributions in force al that time. The Mlni5teremployed durinE the accounting period was eligible for and decided to tontlnue In membership of the Scheme. which is not contrècted out of the State Second Pen510n. From January 2012, pension provision is being made through the Defined Contributitrn (DCI Plan wthin the kheme. In general, members pay 8% of thelr Pension8ble Incomè and employer5 pay 6% of members, Pensionable Incorne into individual pension accounts. which are operated and managed on behalf of the Pension Trustee by Leg31 and General Life Assurance 5oclety Limited. In addltion, tlie ernployer pays a further 4% of Pensionable Incorne to cover Death in Service Beneflts, administratlon costs, and an a55OCitted insurance polity vh)ich provide5 income protection for kheme mernber5 in the event that thty ère unable to work due to long-term incapacity. This income proteclSon policv has been insured by the Baptist Union of Great 8ritain with Aviva Litnited. The further4% contribution rate 15 reduced to 3% for Employer contrlbutions rnade to the SegreEated DC ArranÈement Benefits in respect of serlflte prlor lo ljanuary 2012 are provided through the Defined Benefit IOBI Plan within the scheme. The main benefits foi pre-2012 service were a defined benefit perision of one eightieth of Final Minlmum Pen5ion3ble Sncome for pach year of Pensionable Servlce. togetherwith tddltional pension in rÈspect of premiurns pald on Pensionable Incorne in excess of Minifnum Pensionable Income. The kheme previously known as the Baptist Ministers, Pension Fund. started in 1925, but W3s c105ed to future accrual of defined benefits on 31 December 2011. Actuari31 valualion 3$ at 31 December 2019 A formal valuation of the Deflned Benefit IDBI Plan was performed at 31 December 2019 by a professiona11y qu8111Sed actuary usln8 the Projected Unit Method. The market value of the OB Plan assets at the valuation datÈ was £298 million. The valuatlon of the DB Plan revealed 3 deficit of assets compared with the value of liabilitles of £18millic>n (equivalent to a past service fundlng level of 94%). Th& Charitv 3nd the other employers As a result of the valuation. in addition to the contributions io the DC plan set out above itwas agreed that the standard rate of deficienty contribution5 from churches and other employers involved in the DB Plan will remain at previously a8reed levels. increasin8 pach year in line with increases in the Minimum Pensionable Incorne. The deficiency contributions are broaclly based on 12% of Pensionable Incomelminimum Pensionable Income reflectin8 each employer's contrlbutions in Mérch 2015. Some employers Ihal were involved in the DB Pl3n for a short period pay lower contrlbulions. STOUR VALLEY BAPTIST CHURCH NOTESTOTHE ACCOUNTS FOR THEYEAR ENDED 31 DECEMBER 2024 2. MINISTRY 2024 2023 Salaries Employer's pension contributions Employer's national insurance Pastoral care expenses Marise expenses Ministry gifts Training c05t5 including conferences Pastoral mileage expenses Worship Eroup/online worship 44,552 4,533 3,626 583 10,646 550 1651 508 183 41,175 4,349 3,172 1,459 11,078 196 260 717 321 65,116 62,727 Average number of employee5 No employee received emoluments in excess of £60,000 Trustee remuneration and ex en5es 2024 2024 2024 2024 Gross salary Employer Employer Pension contributions contributions Reimbursed expenses D Pulham 34,320 3.481 4,251 3,233 Housing expenses of £10,64612023'. £11,078) are paid on behalf of D Pulham. 3. MISSION 2024 2023 Junior church Family church Treasure Seekers Small group resources Alpha course expenses Catering costs Little fishes Irestrictedl Rock 501id Holiday at home Irestrictedl Weekend at home Other outreach 126 65 145 282 260 103 19 564 2,097 258 2,082 162 949 271 2,073 394 568 531 4,752 6,196 STOUR VALLEY BAPT15T CHURCH io NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2024 4. ROOMS AND BUILDING HIRE 2024 2023 Hall rental Prior period over accrual 5,720 11,1041 5,330 4,616 5,330 5. ADMINISTRATION COSTS 2024 2023 Advertising Println& stationery and p05taee Telephone and internet General expenses IT and equipment Subscriptions Professional lee5 Bank charges nterest payable Insurance Website cost5 Build planning and design cost51 Irefundl Computer depreciation 107 270 426 293 477 28 12 1,631 1.770 133 1.805 1,680 70 24 856 365 17891 208 5,022 786 43 311 5.483 STOUR VALLEY BAPTIST CHURCH li NOTES TOTHE ACCOUNTS FOR THEYEAR ENDED 31 DECEMBER 2023 6. DONATIONS FROM TITHE FUND 2024 2023 Home mission fund Baptist Missionary Society OMF IM & J Griffithsl Open Doors Hobson and Mary Mill House ol Bread 8atram CAP Donatlon I (prior year over provision) 2.200 644 2,4( 1,104 1,200 600 1,000 1,008 600 1.200 9,112 1,008 7001 3,152 7. SPECIAL COLLECTIONS FOR OTHER CALISES 2024 2023 Hobson and Maiv Ukraine Pann Nann Ein Open Doors Coronation books D Pulham 1,922 3,797 39 644 236 662 259 2,181 5,378 FIXED ASSETS Equipment 2024 Written down value brought forward Addition in year Depreciation in year Written down value carried forward 623 12081 415 9 PROVISIONS FOR LIABILITIES 12 The 2021 Accounts included a provision lor rhe possible liability under the Baptist Pension Scheme. At the end of June 2022 the Baptist Pension Scheme signed an agreement with the insurance company Just Group I'lust'l to Secure members. pension benefits under the Defined Benefit I'DB'I Plan. As a result, the Scheme no longer has a shortfall. A revised statement of contribution5 was anrnounced in july 2022 with deficit contributions from each participating employer in the DB Plan reducing to just £1 per month from August 2022.