BAPTIST BUILDING CIO ANNUAL REPORT 2025 & FINANCIAL STATEMENTS 11 CHARITY NO.1185767 BAPTIST BUILDING CIO ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2025 INDEX PAGE Trustees, Annual Report Independent Auditor's Report 9-12 Statement of Financial Activities 13 Balance Sheet 14 Statement of Cash Flows 15 Notes to the Financial Slat8m8nts 16-25 BAPTIST BUILDING CIO THE TrUSTEES PRESENT TIIEIR ANMIIAL IEPOIT T￿t￿lER Wml FINAMCIAI STATEMENTS OF ThE CHARITY FOR THE YEAR ENDED 31 DECEMBER 2025 IBIECTIVES AND ACTivmES FIR PUILIC BENEFIT The financial statements have been prepared in accordance with the accountin9 pollcies set out in note I to the accounts and comply with the charity's governing document, the Charities Act 2011 and Accounting and Reporting by Charltles: Statement of Recommended Prartlce IFR51021 applicable to charities preparing their accounts In accordance wlth the Financial Reporting Standard appllcable In the United Kingdom and Republlc of Ireland published in October 2019. Baptlst Bulldlng CIO works to advance the ChrtStlan falth for the public benefit by facilitating the mlssion of Baptist Churches in the United Kingdom & Ireland. To achieve this objective, we partner with Baptist Churches and other charitable bodies of the Baptist Denomination by making loans to Baptist Churches to help them to purchase. build, expand, repair and improve their premises. including places of worship and other halls or buildings. Wi £Irn￿lY offif iil•rnst.IrM lilis If £30.011.£511.IQI, repiyibli Dnr IQ y8irs by rn￿14[ Iislalpje￿& rhe Trustees ljove the power to vory any loan terms on o cose by cose bos1S. Sorrowers ore inviied to moke o thonk-oflering dontttion on repoyment ol the loan. We also make grants to small Baptist Churches mainly in rural or deprived areos for building improvements and green energy projects which will have a big impact on their local mission work. W8 make discretionary Iraits of £5,000-£30,100 to q¥alifyiAI Chir¢les The Trustees conflrm that they have referred to the guidance contalned In the Charity Commission general guidance on publlc beneflt when revTrewing BBCIO'S alms and oblectlyes. In planning future activities and in setting the grant- making policy for the year. Our grunt cycles open when de5iqntiied Jund5 t7re ovoilable lor ihi5 purpose. Usually with a 3-4 nFonrh wiiidow Jor opplicotions. To achieve the object of our charity, our loans and grants are advertised from time to time in Baptist publicity and communicated to a network of Baptist organisation5. including the Baptist Union of Great Britain. the Baptist Union of Scotland, the Baptist Union of Wales, the Association of Baptist Churches in Ireland and the Grace Baptist Trust Corporation. We also participate in exhibitions at BaptlSt Assemblies. and our website helps to further publicise our work. www.baptistbuilding.org tBuiklMg CIQ Annual Report 20251 P4e 1 ACHIEVEMENT & PERFORMANCE OUR LOANS Over £3 mllllon out on loan over the year. helpln9 35 churthes to REBUILD. EXPAND and RENEW thelr buiidlngs 4 NEW LOANS totaLling £568,343 J¥ Quorn Baptist Church (annexe & accessibility improvements) LeyLand Baptlst Church (creation of new community room) Park Road Baptlst Church {remodeLling entrance and ground floor) Burgh Baptlrt Church (renovating buiLding) lorn Baptist Cl*c New akne and cafe-style we area The new cafe area encourages more interaction on Sundays, the building is more accessible and welcoming, the green improvements reduce the church's carbon footprint into the future Ba￿'s1 Building CIOAnnual Rep)rt 3)251 P&3e 2 ACHIEVEMENT & PERFORMANCE HELPING SMALL CHURCHES WITH A BIG HEART FOR MISSION 9 GRANTS PAID totalling £113,053 S NEW GRANTS (totaU•ng £66.607) These grants helped... Johnstone Baptist Church to install soLar panels for green energy Richmond Baptist Church to resurface their car park Leigh Park Baptist Church to repLace their heating and improve the hall Light of Life Baptist Church to refurbish their building Bitterne Park Baptist Churth to reconfigure toilets and doors plus 4 GRANTS paid from our 2024 grant cycle as conditions had been met by the churches (totalling £46.4461 Bitterne Park Baptist Church "The refurbished toi18ts and new lockable layout ave already made a big difference to how we can use the buildin he new layout has owe an evenin oup straight aftei the Youth Group. The layout has made setting up for the Youth group far easier, particularly when early arrivals need the toilet! Having accessible toilets and a secure, flexible space has made it much easier to run different activities alongside each other." FINANCIAL REVIEW £111 050 A key fundlng source for thls charlty Is thank-offerlng donatlons recelved from Churches following repayment of their loans. These donations funded our running costs and supported our wider activities. £23.803 We also recelved proceeds of sale from closed Churches where thls charlty or Its predecessors. are named as the ultlmate beneflclary of the property. £5,613 from the balance of proceeds of closed Churches was made available for grants and the balance was added to our loan funds. £36 106 Charlty expendlture Is consldered to be modest at 0.6% of total funds (excluding grants and costs assoclated with ultimate trust properties). This is incurred in promoting the aims and awareness of this charity and dealing with its administiation. AVAILABILITY OF FIINDS FOR LOAMS PIAMS FOI THE FimiiE At the end of 2025, 45% of the funds available for loans had been advanced to Churches. leavlng cash rese￿e$ of £3,165,994. Of thls sum at year end: In order to facllltate our pollcy of maxlmlslng the use of funds as loans to Churche5 for building works (rather than making investment5). the Trustees Intend to continue: advertising our loans via relevant Baptist channels making known the availability of funds to key personnel within the Baptist family keeping under review the maximum loan Limit and criteria * considering other options for funding Baptist buildi ng projects we had approved lor specific Church projecis 1511bject to conLliiions) £511 111 we had received enquifies from Churches for possible fuEure funding fully available "Ovi yiedtYt5501 is Ilx 8wiS1 8ujlLlvlg Futrt estoirfisheo L•nfyon 1824. is iegi1i￿Cd jil EJw(an6 & IVole5 kvlljl ￿e91St¢le0cl￿?1i1I 14111p￿ts￿l 218835 B* CIOAnnu* Rep)rt20251 P•¥ 4 BAPTIST BUILDING CIO ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2025 Financial Policies Investment policy and perforniance The investrrEnt poI￿Y Oft￿ Fu￿1 ofu9rKJ interest bearry acccths vAth ctharity¥ bankws is currenty corS￿ered to e satisfactory. snce the primary obpclNe of this Fund is rK)l io make inveslmenl gains bui to provKJe the maxlmum availatAe fundiTrJ for making kjarts. HIAvever. the Tntslees regLAarty revie* the ￿511￿￿ in lighl of the ol cash funds tr*ld by ihis charity an¢ the CLrn)¢ dimate ol i1￿reas￿ infi8t￿ art interest raies. The maln source 0f1ncrea￿r￿J the asset base ol11)è FLnd is th8 cl)gJre and s818 of 8aptlst chw¢￿ %%fiere th charity or its predecew, the Baptist Buikliro Fthj. ts Il* U￿Mat8 tenefiuary. The tirrmro ol furKls ttws source Is outgde the control ol the Trustetss. Risk management The Trustees oxamine the rnai￿ risks that the tharity faces each finarrial year. Tho charity has developèd systems lo monitor and control these risks in crfder to MI￿ale any impaci they may ha¥e efi the charity in ILrture. The rrrinclpal rfsk fac&Y by this charity is wtentlal for cfft ￿ mfxe ol tr* clyjrches to knan5 have been advanced unabb lo repay Ih8lr ￿an kn frjl. In cKder 10 mirini5e Ihis risk. tts Tnjstees carry out 3 revlew ol Ihe finance8 ol each church that makes an 8pphcatk)n tr • k)an, m an end9a￿Jr lo ascfft8in lfr•"r alillly lo make repgymenls on 1Sme. They 81s0 seek 8 reFtrft Irom thant I￿1 8aptlsi A6KtiatiLM, aThJ carry wl revlew ol the w￿k lor %•fftkh Ihe loan is requred lo s3￿fy Ihgmsdvgs thai its r4ev8nl wf8ssknal 8dv560r8 wilh adequate prolesgon81 in¢emnlty insurance have be￿ w¥Jaged ty church. C¥Ke a ban ￿ made, ths cM8rfty lodge5 its interest in its ChLwch kycgwty ￿￿th LaTh1 ReG¥'sty. ¢X in cases. takes 8 frymel thgrge over11. The ch8rfty has in8warte for pJtentk41 latr*lity arigr4J Irom aclkTh by Il* Tru#ees. Reserves Policy It 15 Ihe policy ol this ¢harity lo mainlain t￿ Gwal Ftha at a Wies to approxinaldy rTr)nth5' expeTr#ilure on gjpport costs lapproximaldy £19,0(K)l. charit￿$ IS to keep the Ca￿la1 FuTrJ at the Maxi￿rn level posslble, and the levd of reserves ensures that tNg charity can fvAfiI rts main ctycknves resp¥)nd to e￿Sts.ng coM￿tMentS and lo exKEcted new firtir¥J requests rm a brrEty basi& The Trustees have t￿ diS￿ell¢M to make transler5 tei*een the c￿eral FLThJ and ts ca￿al Fund 85 recessary. Totsl Fur¥Js at 31 2tr25 to £5.997,014. ct. Gwal FuThd balance anN)untrng to £21.m all ofwhth were free reserves I iyanls • The r￿aIn1r0 free reserves of£5.8A2,886 W hek1 in the CW Fu￿. 01 Ihis, £2,6￿.892 Ss committ&a in the ICKM of c￿ess￿)nary k)an5 made. £5CQ.C#X) has te￿ offer&J as loans Isubi8Ct to c￿rcheS meeting the condilwsl aThJ £2.&$5.991 is availat4e f￿ n￿kIThJ B4rti5t&JlJiwJ CIO Rem 37251 Page 5 BAPTIST BUILDING CIO ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2025 Structure, Governance and Management Baptist Bu1￿1n9 CIO 15 a lasting leslirrAYty to t￿ gro￿ of LoThYon Baptst ministers VAK) we bles￿ with the vision ol selling up the Baptsst Budding FUTh1 in 1824. 11 has IKJrK1r￿IS of Baptist churc1￿5 Wth tyjildiro projects since its inception. Siru JU￿ 2020 ihL% charity has thken over the aCt￿rt￿S ol the Baptist 8L#ldiro Fund (being the sole subscrthr and Irusle8 01 thal charity) aThJ ca)nlirths its 9x#J Baptist Bu1￿1n9 CIO VJ a charitab￿ I￿Orr￿ated (kganlsatw is a r￿ste￿ d)8rity admiThstered Lmder the terrns ol its Governing Docu￿￿nI. The acliwlies of ths chanty aro c￿lIr01￿ by the Tnjslees. detai*s of vthom a￿ sei ¢xJl page 7 01 this Report. The Trustees apw'nted in ￿verThr￿j Octument as aFvovthY by the Trustees of th& 8aplisl Bu1￿1n9 Fund on creation ol this CIO. Ftrture Tn￿108$ be aFp)inted ty a rescAution pass* al a property cmne(I meetirvJ of t￿ Charily Tr￿le8s. Trustee RgGruitment New Trustees are recrnllecl via wtthiro arKJ advwbsrYJ %wthin organisaiiorts of the Bapli51 Der¥)ninalK?n. Trustees ère usually sdbried from Ih05e wth ex￿rf￿ce in Baptisl Chwch go￿rna￿e. and from a variety of profeSsk￿al ond slmi18f b8ckgrourYls. 11 is ex￿¢¢* Ihal M)ey wil tr￿r￿J to Ihi8 ¢harity b￿ofil ol tTr￿r expertlse. As this eXperIen￿ has gal￿4 wlh $'ff*larfy ftwxled Charrt￿, it Is gertralty ￿￿$#jer￿a thbl adth.¢￿Il Irairmng Ls not reouifed c￿1 appointnwt. alttrmjgh it is offer&J wouka ￿ avadable as Governance The Trustees all ae¢ in an I￿)￿)llry cwty, arbj &￿ally9￿￿ at ka* 4 days of lh￿'r time eath year in FYeparirrfJ and attending Trustee Meelings. A rnjmbw ofTrust8es w"alist eypenise l¥)* to assist the w¥¥k¢ThJs ol the charity on a vcAuntary basi8. for exaff* in rti4*M'ro kjan (* gani aPF4tatKTh. Trustee Meeliro5 Trjrmally occur three tsrres each year. gilv fac*fyl*x ¢y 0￿'re. At th&'r meets'ngs. the Trust transact the busifws ol the charity. Ir￿lU01rYj dÈYisKffls aL￿L$t any ban and ￿an¢ 8Pk*ali¢ys, ensuri￿ that t￿Y conliym 10 thè Goverrtng OccL￿nI and ge￿31 req￿e￿It5 of th8 chanty. Trust8es gwe dl￿ rtraard to any hanges in Lgws applicat49 lo charity truslees fr(￿n lirr*. Trustees ore req(ifftl to disckiso all rdevanl intgrosts and. In accord8nc• wlth the charitys Fdw, lo wlhdraw Irom de￿10￿ ol mittest ari888. The charity has worklng rdallonshlps th 8118aptr61 In Ihe ￿.1&Y lth"W￿, t￿ AS￿at￿)n of Bapti* Churth$ In Ireland and The Grace Baptist Trust Corp(￿11￿. Where l)an apr￿￿1￿￿$ are rnade to eaptist. tr￿leS Other than this Fund, the Administrator may exchange infom)alv)n with t￿se other'8aptisf bc#Jies lo save duplicatvjn of work. Key management personnel The Trusiees conydw the Bo8rd ol Tntsiees arKJ Admiristratw 88 ccmrytsi)g ts key man8gemwrt Ferso ol the charity are in charse ofdirectiThJ a￿1 cthrollirg ¢￿￿nty aThJ runnirg aThJ opwatirq Ihe charity on 4 day lo day basis, Tr AdmiThslrator deals wlh tl* d8y to day adrriN6trnits) of Ihg charity oré pr•pares rW$ lor p￿$￿tailOn to Ihe 808rd ol Truslees at Ihe TrLLsiee Veeii￿$. All Trustees gwe ol their lime free￿ and Th) trltslee renwneralion was paky in year. OetalL8 of tnL8tee expen58S arKI any related party transaciThs are disdosed in rL)tes 8 & 20 to fina￿la1 5tatwnwts. The rernunerat1￿ ol the Mlministratw amualty. t BiibJiwCIONMI* Rewt 3)251 P¥ 6 BAPTIST BUILDING CIO ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2025 Reference and administrative details Ch4rty Re￿4￿ knb 1185767 R•Jl*ernd adtlr•81 Wonford Chapel 3&38 W￿f￿d Street Trwt• Apart frorn tl* first Charity Tn￿lee$ vh) VO￿ apro.ntwj TrLtstees of Bapt￿ &J*Jir¥J Fund. every Charity Trust90 Is apwnled by a re5o1ut1c￿ passed at a c￿erth1 ffeeting ofchèrity Tr¥Jstees. Rwd. lin J Mr Jom L•4kk Mrkndr•w M L** Mr John D Monlgorwy Ir8Byd 9 Jw 20251 Mr Mark Rog Jom Wa*w Rthxl. H•Yffj J Y(w {appJn14yd 12 ￿5) Admlrlstratcr Ilo whom day to day manogw*)i ofthe charity i% de￿t￿l) Grlffln Chartered ￿¢￿tan¢S Crtha)ay Houye Hill EXETER 25 TrQ'rg5 Hll A￿¥ Krys Hill WEST MALUNG ME194JQ Tc4*5 LLP 1 Watersde W8y for¢ Roa(J NORTHAMPTON NN4 7XD BAPTIST BUILDING CIO ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2025 The Trustees are reSpOn￿b￿ f¢y [wa￿n9 TrLtslO85' AnNal ReF¢yi the financlal staterws in aCCC>rdancè wlth applicable law and United ￿n￿s￿lI AL￿ntIr￿j SIwKlard¥ IUThleO KJrW Gwally 4a£wed Pracltel. Charity law requires the Tr￿le8S lo pr8par8 finar￿￿81 Slaterr￿nIS lof each firwKial year give 8 and fglr th of the fln8ncl81 pos111￿ ol tlkg (*8rity dwr¥J the year ar*J ol its finar¢ial powihx al t1￿ ￿ of the year. In preparing those financial statements, the Trusiees shoLld fdl¢N best practKe aThJ'. sdect ￿lla￿￿e accourning wltis aFyty I￿n CryW$l￿tr. observe ihe mell￿$ aTrJ wIr￿1P￿ in tts Chan￿$ SORP.. make judgements and estimalos that are reas(*)atl& ar#J ly￿1￿￿. ' slaie whether applut* a¢coLmtry stsTrJards stalenwnts of rè))mnwKknJ have been followed. subject to any matwwl ¢JepartLnS aNJ exrA8iwY in th8 fina￿la1 staterr￿t$. prepare the fInar￿la1 staternents on gC￿ ba&s urless rt ig inaFwviate to presunw ihat the eharity will ccfitsnue in {wat￿. The Tnjslees are resp￿&b￿ Ic¢ keewg accrAntiThJ thch dlsck)se wth rea9)na￿e accJJracy al any time the financlal pog'lion ol the charty and enat48 t￿rn lo err4re that finaroal slalernenls compty with the Charities Act 2011, the applicab￿ charit￿ IAccoJnls and Rer*MsI R&3UIalKr￿. a￿1 prom￿6 ol the Governing Ettumenl. They are also reSp￿￿trIe lor saleguardiro assets 011￿ chan'ty aTh1 lor lakn'rvJ reagJnab18 Steps for preventiw afKI deleclbJn of fro￿ aTh1 oifw irregl1ari￿s. Th• Trustee8 ore f86k￿*b￿? tho rnahtenèrtt Ond inl•ilty of Its tharity aThJ fina￿1?1 Infomwlion on th8 charttys webslte. Le9s181ion Sn tho UThtPAJ •rKI diu•Thnaiiw of fln•￿￿oI Bialen￿nts mgy dlffer from leg'slalion in other jwisdiclwo. ON BEHALF OF THE TRusr PEWD. J BLNCE Chalr 10 June 2026 Bapts'st &Jilding CIO Annual Report 20251 Page 8 INDEPENDENT AUDIToifs REPORT TO THE MEMBERS OF THE BAPTIST BUILDING CIO Opinlon We have audrted the financial statements of the Bapb'st Buikjing CIO for the year ended 31 Der￿ber 2025 which comprise the Statèmènt of Finanrial Activities, the Balance Shèet. the Slalemenl of Cash Fluws and noles to the financial stslemenls, incltjding a summary of 5ignificanl accounling poliues. Tf* finanrial repO￿"r￿j frarrEwork that has been applied in their prÈparalion is applicable law and United Kingdom A(xxxJnling Stsndards. Including Finanaal Reporting Standard 102 Thè FinAnGial Reporting Standard a￿1$Cable in Ihe Unitèd kn.wlom and Rewbbc ollr8laTrl (United Kingdom G￿•rallY Accepted Accounting Practice). The finanaal statemènts have been prepared in accordance with Accounting RèportiThJ by Charities prepar¢ng their acLounts In accordance with the Financial Reporting Stsrvjards applicabk in the UK and Republic of Ireland IFRS 1021 in preference to the Accounting and Reporting by Chanlies Ststen￿l of Recommendgj Prxtwz issued on 1 April 2(K)5 vh)Ich 18 referred lo in the extant regulabons tryjt has wilhdr8wn This has been done in order for the accounls lo prowde a Inje and fair ¥ryew in accordance the G8n8ralty AcLaplad Accounting Practice effective lor T•portin9 periods beginning on or after 1 January 2015. In our opinion thg financtal slatements'.- give a Irug and fair view of the slale of the tharws affai￿ a5 at 31 December 2025, and of inc(￿Ing resources and applicab.on of resour¢es. for the year then ended: hava been property prepared in accordanc6 with United Gen•rally Aewt8d Accounlifig Prèctbce." and have been prepargd in gccordon¢& wilh the requirements of the Charibe8 Act 2011. Bas18 for oplnlon We conducted our audit in accordance with InlematKJnal Slandard5 ￿ Auditing IUIQ IISAs(UK)l and appI￿abl0 law. Our responsibilities under those standards arè lurthgr describe(1 in the Audiiorfs resFX)nsibilities for the audrt of the financial statements se¢don ol our reptsrt. We are independ8nt ol the charty in accordance with thg glt#¢al ￿QUIr$M￿nIS that are relevant to our audit of th8 financial $lalemenl$ in the UK induding FRC'S Elhical Stsndard, and we have fulfilled our other ethical ￿SponSibl1111es in accordance with those requiremants. W• bel￿¥0 thal the audit evvjence wo have obtsinod Is sufficient and appropriate to WOVKle a basi$ for our opnion. Conclu8lon• r•l•tlng to golng conc•m In auditing the financial statements. we ha￿ condudgd that the Truslees, use of the wing conc*m basis of8ccounling In the preparation of the financlal slalemenls is appropriate. Based on th8 WO￿ we ha￿ perfomwd, we not identrfied any matwial uncertainlies ￿lating lo e￿￿1$ or r•)ndilions that, individually or colleclively. may cast signrficanl doubt on Ihe Trusl's abilty to continue as a going conc*m for a pgriod of al least twelve monlhs from when the financial slatefflenis are a￿t￿Sed for Iss￿. Our responsibilities and the responsits'lrties of the Twstees. wrth resped lo gcrfng cor￿eM are dgwbed in the relevant section ol this report. Other Infomiatlon The other Information comprises the infomalion indu¢Jed in Ihe Trustees, annual feport. other than the finan￿81 statements and our auditorfs report ther8on. The Trustees a￿ reswnsible for the other infom1ali￿ ¢))ntained within the tru$lees' annual report, Our opinion on the financial stslemenls does not cover the other inf0M￿li0n aThJ. except lo the extent otherwise explicitly staled in our report. we do not express any fomi of assurance L￿duthn thereon. 8apts.st Budding CIO Annual Rewrt 2025 | Pgge 9 INDEPENDENT AUDIToifs REPORT TO THE MEMBERS OF THE BAPTIST BUILDING CIO Our responsibility is to Tead the other infomiaiion aThl, in doir4J $0. ccThider w￿her the other thrformation is materially inconsistent with the financial statement$ or our knThY￿9e obtained in the course of the audrt or otherwise appears to be materially misslaled. If we identty sL￿h material irKonsislencies or apparent material Misstaten￿nl$, we are required lo determine whether this gives rise to a material misstalemenl in the financial statements themselves. If. based on the work we have performed, we condude that there is 8 material nmsstatement of this ofvr infom1at￿n, we are required to report that fact. We have nothing to report in this regard. Matt•r• on which we are r•quir•d to rèport by •x¢•ption We have nothing to report in resFect of the f¢Jk)wing mattets in relat￿ to Wh￿th th• Chartt*s (Accwnts and ReFthsl Regulatsons 21XJ8 require us lo rew)rt lo you rf, in our opinion.. the information gNen in the slatements is inconsislent in any mg1gri01 r¢spect with the Iwslees, reF(¥t", or the ¢harty has not kept adequate ac(￿n11Th2 r￿)rds. or Ihe finan¢ial statements are not in agreement with th8 acc¥)unting rec(￿d3 and retums., we havo not receiveil all the informati￿ and explanalions we rtquirè lor our audlt. RfrBpon8lbllltb•s of Tr￿1￿• As explained more fully in the Trustees. ￿SponsI￿1rtl8S statement (set Ixrt M page 81. the Truslees a￿ responsible for the preparation of the financial stalements an¢Y for being sabsfied thal they give a true and fair vi8w, and for su¢* inlemal control as the Trustees detemine 1$ necessary lo enab￿ Ihe preparètkm of finan￿al statements Ihat are fre& from material misslalemenl whether due lo fraud or error. In preparing Ihe financial slalemenls. the Trustees are responsible assessing the charity's ability to continue 88 a going concern, disclosing. as applicable, mattars retat8d to going and using Ihtr going concern basis of accounllng unlass thg tru$l8es either inlend lo liquidate the charity or to cea88 operation8. or have no rnalisti¢ alt•mati￿ bul lo do so. Auditorf• r••pon•lbllltS•8 for th• audll olth• finoncl•l •l•t•m•nts We have ￿efi appointed as auditor undèr seclion 144 of the Chaiili8s Act 2011 and rep)rt in accordance with regulation8 made under section 154 of that Act. Our objectives are lo oblgin reagon8ble assurnn¢8 8bout whetherthe finano81 $tatemenl$ as a whole are tree from malefial misstalemenl. whether due lo Iraud or error, and lo issue an aLNJrtorfs report that includès our opinion. Reasonable assurance is a high level of assurance, bLrt is nol a guarantee that an audrt JSt or valuation. rb8t of dgpwab'on and any impaimenl losses. Depreaation is rocognisgd $0 as lo write off the o)sl or valuabon of 48881s18ss their residual values over Iheir &xkwcte(1 useful live8 on the Idkw'ThJ ba8iS.' Offic8 gquipment DE8TORS AND CREOITORS RECEIVABLEIPAYABLE WITHIN OME YEAR Doblors and creditors with no slated Interest rate and receivable or payable wthin on8 ygar are rocor¢Jod al trans￿[10n price. Any lo$se$ arlsing from Impaimwrt are reco3nised in exF*nditure. FINANCIAL INSTRUMENTS The Charrty only has financial assets and finanoal liali1￿¢S of a kn.nd that qualfy as basic financial instruments. Ba8lC financial instruments are inithally re¢ognised al Iransadion value and subsequenily w*asured al their settlement value with the exception ol bank loans which are subsequentty n￿asu￿ at aM(Yt￿ ￿811151ng the effective interest method. CRITICAL ACCOUNTING ESTIMATES AND AREAS OF JUDGEMEMT Eslimales and judgments are continualty evaluated and are based on histori￿1 experience and other factors, induding expectation$ of future events Ihal a￿ Wieved lo be reasonable under the circumstances. Critical accounting estimates aTrJ assumptiorts= The Charity makes eslimales and assumpb'on5 cx)nceming Ihe luture. The results'ThJ ac£ounts'ng esbmates and assunwtions will. by definition, sddom equal the re￿￿ed re￿j11S. There were no estifflales or assumpthjis that wo considered to be significant. Bw'sl BuiklfiNJ CIO Annual Report 2025 | Page 18 BIPTIST 8UILDING CIO NOTES TO THE FINANCW STATEMENTS FOR THE YEAR ENDED 31 (ECEMBER 2025 2 INCOME FROM DONATK)NS AND LEGACIES 2025 2024 Thank-olferiros from Churches (see bekMI Church Donations 111,OSO 15 23.550 111.06S 23.550 Thank.ofl•rlng5 from Churche¥ 4543 Leyland 4544 West Croydon 454S Wo￿. Wolvethar 4555 Loughton 4561 Alholl Cenlre. Pitkxhry 4562 Culknden 4563 Omagh 4564 Bushey 4566 Sheffield. Tha WWI 4575 Gillingham 1.050 1.050 5,000 5,000 5,CQO s.000 21.500 12,500 25,1)00 10,000 25.000 12.500 111.050 23,550 3 INCOME FROAI INVESTMENTS 2025 2024 8ank Inter••i 86,397 105.219 10S.219 4 PROCEEDS OF ULTIMATE TRiIST$ 2025 2024 B•uLqh. Rhymney CApel Bethania Coxall Crowkerne & ML8terton Treharn$ Fenton Newport. 51 Mary St iongc4rvJ ¢k)6urel 5470 82.791 2.581 40 056 12,011 22.453 1.350 23.803 142.909 Bapbst Buiklityj CIO Annual Report 20251 Page 19 BAPTIST BUILDING CIO NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 5 CHARITABLE ACTIVITIES 2025 2024 G•n•ral Fund - Support costs Administratorfs salaryifees (see note 7) Trav81 cost$ lexcluding Trustee Meètings) Computer consultan Printing. slabonery, FK*$tage and lekpho Bank charges Insurance General publicity Website Governancè costs (S￿ note 61 Charitable Donations 17.942 1.998 17.003 2.478 247 77 3.705 2.537 37 9.213 270 310 4,035 4,148 192 9.679 270 38,481 Support costs are 411 attributab￿ lo the chantys lo￿ and grant making a¢¢i4fjty. D￿lOnated Fund . Grants 2024 Cycle Croyde Lydbrotsk Whil¢hurch Wlnlon United Aylesham (final tranche lo be paldln 2026) Amott Road, Peckharn C8Stlederg South 88nk, Redcar 8,620 5,000 25,000 18,698 5,500 19,000 11,466 11,480 2015 Cycl• Light ol Life Richmond Leigh Park Bbtterne Park Johnst￿¥ 5.000 11.208 16,606 23.793 10.000 66.607 All grants were paid lo Baptist Churches a$ contrit¥Jlions Itmards small txJildirrfJ projects for missional activities. Without this work being carried out, eath Church woukl have lo restrict thw'r community ministy. 104,764 Capltsl Fund - ¢I￿ed Churches Newport. Sl Mary St (ongoing dosurel 14,069 14,069 Professional fees, travel expenses and orvJoing runring costs {ulilrties and insvr8n¢xl We￿ incufred while preparing Ihls dosed church for sale In 2026. 116,782 143,245 88pb.st Building CIO Annual Rer<4t 20251 Page 20 BAPTIST BUILDING CIO NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 6 GOVERNANCE COSTS 2025 2024 Tru$tee8' Meetings {including travel costs) Audit fees IBBCIOI and IndepeThJonl Examinats"(x) IB8F) Legal 168$ 1.519 7.680 14 1,573 7,680 426 9.213 9,679 7 EMPLOYEES 202S 2024 Staff costs during the ygarwere as fdlry*s= Wages and salaries National Insurance costs Pension costs INEST- see nots 211 17,240 16,507 702 496 17,942 17.003 Thè average number of employees dumg the year was 1 {2024..11. No employee earned £60,CI)O pw annum in the current or prn(*ding a¢c¢unting year. 8 PAYMENTS TO TRUSTEES AND CONNECTED PERSOMS •} P•ym•nts to Tru•t••• No Irusle8 or person with a family or business conngcllon with a trustee recei*d any reM￿0r8￿.0n or benefrts in the year, directly or indiroctty Irom tho charity. Expenses reimbursements paid to 8 {2024'. 101 trus1￿ during fv yw amounled lo £1.53412024.. £2,824) In re8pe¢t of Ir8vg11ing and other exwse8 I￿ur￿d on behallof the charity. bl P*sryn•nt• to Admlnlstratorn During 2025, Ihg employment costs of th& Administrat￿l0t￿￿0 £17,94212024.. £17,CQ3). being thè remunèration of the key managernenl pers￿ne1. The Adminislralof was ieimixjfsed for Ira¥*llNig expenses, postage, stationery, publicAty and website costs amounlirwa lo £2,726 {2024". £3.747). Bapti$l Building CIO Annual Rèport 2ff25 | Paga 21 BAPTIST BUIUXNG CIO NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 310ECEMBER FIXED ASSET INVESTMENTS SOCIAL INVESTMENTS LOANS TO CHURCHES Programm• related Invostrnents 2025 2024 Cost al 1 January 2025 Loans made Isee belrywl Loans repa 2.859.990 568,343 1731,4411 3.071.179 510.000 1721.1891 At 31 DK•mb•r 2,696.892 2.859.990 No interest 15 charged on the loans, whith are usually sO￿red by regist￿ing this Fun(fs interest with The Land Registry or by a fomal legal charge t)n the property Loans are usually repayable over len years. Loans amounting lo £374,721 12024". £489.7881 are due within one year. and £2.322.171 {2024". £2.370.2031 are due after fflore than one year. ConC￿lOnIry Lo•n C¢)mmibn•nts At lh• and of the Pèfiod. th¢ Tru$tee$ agreed lo make finan¢e available as bans lo one ¢hurth totAlling £SCJ),000 12024". two churches of £332.343I subject to Conditions yei to be ￿￿Illed. The advancèment of any agreed loan may be affgcled by Ihe availability of liquid funds of this chanty and the propcts lor which churches had requested paymenl of the loans. Some of the agr¢od ban$ may not be tsken up by th& ¢hurthes duriThJ the nexl 12 nTh)nth$. LOANS ADVANCED TO CHURCHES Th• followln9104n• w•rn advan¢•d durfng th• p•rlod: . 2026 2024 4592 Ellon 4593 Croes Y Parc 4594 Quorn 4595 Walton 4596 Leyland 4597 Pelerborough. Park Road 4598 BUrg￿le-maISh 290.343 42,000 200.000 36.01)0 $68.343 510.000 10 FIXED ASSETS 2026 Totsl 2024 Total •quipThnt Cost brought fO￿ard Addilion51disposals Cost al 31 December 2025 1,827 1,827 1,837 10 1,827 1,827 1,827 Depreciation brcAJghi forward Disposals DepTerAation 8131 December 2025 1,827 1,827 1.837 10 1.827 1,827 1.827 Nel book value at 31 Decenthr 2025 Bapb'st &Mlding CIO Annual Report 20251 Page 22 BAPTIST BUILDING CIO NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 11 DEBTORS 2025 2024 Other debtors Prèpayments Debtors amuntrNJ to nil (2024.. may not be reo)btrabk within ¢)ne year. 12 CURRENT ASSET INVESTMENTS 2025 2024 Unlisted investments 2.385,368 2.314,627 2.385.368 2.314.627 13 CREDITORS: AMOUNTS FALUNG DUE WITHIN OME YEAR 2025 2024 Trade creditors Gran1$ awarded and payable in 2026 Accruals and deferred income 1,073 1,000 7,694 47,446 7,708 9,787 55.736 14 GENERAL FUND The purpose of the General Fund is to meet all adminiStrab'￿ and fun(1 raising o)sls irKurred durin9 the Per1￿3. Al the absolute discretion of the Trustees. transfers rnay be made to or from the Cawtal Fund. 15 DESIGNATED FUND The Trustees have a Fdicy of transferring a percentage of th8 net sal8 proceeds of dosed chuTches into I Designated Fund with a view lo making grants for missional work on applKations from Baptist Churches, lotalling £5.613 in 2025. In 202S the Trustees agreed an addilional Fdicy of Iransferriro of saw'ngs interest into the Dgsignaled Fund lor the same granl-makiro pu￿$Se. lolalling £43.151 in 2025 As a result, ihe total transferr￿ into the tlesignated Fund during the year wa$ £48,764. 18 CAPITAL FUND The Capltsl Fund Is prfmarfty us&J for granllng of In a¢c¥ydarKe wilh the obje(As of the Charfty. 8apti$l B￿lding CIO Annual Report 2025 | Pag• 23 BAPTIST BUILDING CIO NOTES TO THE FINANCIAL STATEMENTS FOR ThE YEAR ENDED 31 DECEMBER 2025 17 ANALYSIS OF CHARITABLE FUNDS Anal￿18 of lund mov•m•nts 202$ 8alant• brought lorw*rd Incom• Exwidiiurn TraMf•rn Balanc• rrled forw•rd Unmtrl¢t•d lund• G•n•rnl Fund De3lgnated Fund Capltal Fund 22,803 130,963 S.Y38.765 197.462 36.106 66.607 14.069 1163,161} 48,764 114.387 21.008 113.120 5.862.888 23.803 S.8•2.$31 221,266 116,782 5 997 014 Analyws of fund movgments 2024 Balance t Income Expendit Transfers Balance cll Unroslricteil furKI$ General Fund Designated Fund Capital Fund 22.515 74,095 5,667,488 128.769 38,481 104,764 190.OW} 161.632 71.6321 22.803 130.963 5,738,765 142.9)9 5,764.098 271.678 143.245 5.892,531 Analys1• of n•t a•Mts b•lwwn fund• 2025 General D8•lgnated fund fund Capitsl Totsl Flxed Assets Current a8$•ts 2.696.892 3.166.679 2,696,892 3,309,B89 114.120 114.120 863,$71 6,1106,781 Currnnt Ilabllltle• 8.082 685 9,767 21.008 113.120 5.862.886 5.997,014 Analysis of net assets tets¥een funds 2024 General DesNJnated fvnd fvnd Total fund Fixed Assets Cufrent assets 2.859,990 2,878,775 2,859,990 3,088,279 78.$41 130.963 78.541 130.963 5.738.765 5,948,269 Current liabilthes 55,738 55,738 22,803 130. 5.738.765 5,892,531 Tho purpose of each is dewbed in notes 14 to 16. and approp¥iate transfers have teen bè￿n Ih9m to fulfil the criieria. 8W'¥l 8uibJi)g CIO Annugl R•wt 20251 Page 24 BAPTIST BUILDING CIO NOTES TO THE FIMANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 18 ANALYSIS OF CHANGES IN NET DEBT At l January 2025 Cashflow At 31 D•¢ember 2025 Cash al bank and in hand 3.084,933 219,992 3.304.925 19 EVENTS AFTER THE REPORTING DATE Sl Mary Sl Baptist Church, N￿port was soky as 2 proFwties in February and Awl 2026 20 RELATED PARfv TRANSACTIOMS With the exc£ption of the reimbursemenl of expenses arKI r8mun&ralion as set oul in note 8 on page 21, there werè no transaction8 be￿een the Trustees and the charty during the year. 21 PENSIONS D•fln•d Contrlbutlon S¢h•m• The charity conlributgs lo Nest pens￿ Scheme. whth is a def￿j c£*)tribution pens￿ scheme run by Nesl Corporation la public body) lor Ihe benefrt of its n*mbors. Members pay 50h of their Pensionable IrKThne into this Scheme and Ihe employer pays 3%. Th8 assets ol the sc*em& are held separately from thos8 of the CIO in an independently administered fvnd. The pension cost chargtr represents conlribution$ payable by the CIO lo the fund and aThwnted lo £70212024.. £4*1. £Nil12024.. £Nill was due lo the fund 81 the balan￿ sheet dalè. Bapb'st BuddK)g CIO Annual Report 20251 Page 25