CHARrtY REGISTRATION NUMBER: 1187C Mount Pleasant Baptist Church CIO Unaudited Financial Statements 31 December 2023
Mount Pleasant Baptist Church CIO Financial Statements Year ended 31 December 2023 Page Trustees, annual report Independent examiner's report to the trustees Slatement of financial activilies Statement of financial position Notes to the financial statements The following pages do nol torm part of the financial statemenls Detailed statement of financial activities 19 Noles lo the detailed slatement of financial activilies 20
Mount Pleasant Baptist Church CIO Trustees. Annual Report Year ended 31 December 2023 The trustees present their rerth and the unaudited financial statements ol the Charity lor the year ended 31 December 2023. Reference and administrative details Reglstered charlty name Mount Pleasant Baptist Church CIO Charlty registration numbgr 1187005 Prlncipal offlce The Kingsway Swansea SAI 5LF The truslee8 G Morris S Levy J Christie B Jones A Haden L Davies (Resyned 28 April 20231 Indopondont 8x8mlnor Philip Harris F.C.A. 144 Waller Road Swansea SA1 5RW Stru¢turg1 govgmance ond managomgnt Governlng document Mount Plgasant Baptist church CIO was established on 17 Docemb9r 2019, b¢¢oming operalignal from 1 June 2020 with assets translerred Irom Ihe previous charity wilh elleet from that date. The charity is governed by the Board ol Trustees who are responsible lor controlling the management and adminislralion ol the Church. The Board ol Trustees are governed by the chariws conslilulion which is based on the Gharrty Commission Foundation M(xYel lor a Charitable Incorporated Organisalion ICIOI. Inductlon 8nd tralnlng ol new trustees Church members appoint Trustees by a resolution passed al a pr¢yrly convened Church meeting and in accordance with the Church iules. The Trustees are s[X)nSIble lor the induction ol any new Trustee. This involves making them aware ol a Truslge's responsibilities and ol the nalLJre ol the governing document and administrative procedures. A new Trustee would receive a copy ol the charilys governing document logether with a copy ol the charrtls latest Annual Report and Accounts. Key management remunerallon The board ol Trustees, Tom Martyn and Dafyd¢J TaOr, are considered to be the key management personnel ol the charity. Details ol Trustee remuneration or other benelils are disclosed al note 12. Details ol TrLJslee expenses and related party transaclions are disclosed in notes 12 and 19 respectively. Payments to other key management personnel are given at note 11.
Mount Pleasant Baptist Church CIO Trustees. Annual Report Year ended 31 December 2023 Structure. govern¥n¢e and management icorfinwd) Rlsk Management The Trustees have conducted a review ot the major risks lo which the charity is exposed. Where appropriate, systems or procedures have tten established lo milkJale the risk the charity laces. These procedLJres are peri(MJically reviewed lo ensure they continue lo meet the needs ol the charity. Oblectlves and actlvltles Mount Pleasant Baptist Church, Swansea seeks lo continue the old work ol every local church sharing the good news ol the forgiveness ol sins Ihrough Jesus Christ lo every r$On that lives nearby, following him logelher. bringing Ihe grace and peace ol the Living God lo people's lives, lor life and lor death. We are eurrenlly approximately 200 membèrs and have links with other churches across South Wales and the wider UK, who we partner wlh in prayer and wrth help as they share this good nèws in their neighbourhocKIs. Our legal purpose is the advancement ol the Chrisban lailh in accordance with the basis ol lailh primarily but not exclusively within Swansea and the surrourKling area,. and other such charitable purposes as shall, in the opinion ol the Trustees, further the work ol the church. We have a prominent sile in the centre ol the city which we seek to use lully lo serve our local community wlh all the help GOJ brings his church. Stalllng and volunteerlng The church employs lour lull time staff and has eight slaff overall. More than a hundred and sixty people r&gularly volunteer in a whole variety ol capaeities. without whom the work ol thè church simply could not happen. 11 is not possible lo place a monetary value on the contributions made by volunteers nor are figures availatje that show how many hours ol semce they provide.
Mount Pleasant Baptist Church CIO Trustees. Annual Report Year ended 31 December 2023 Achlevements and performance Activities during 2023 have included worship serwces on Sundays, arKJ weekly prayer meetings to pray lor our city ané neighbourh(ths and people working across the area, as well as lor our members. The children and the WKler church read through a ol the Bible Ir>Jether each month. sharing what God says with one another, and in summer and Christmas holidays did one project on Mark and another on Isaiah sharing God's word wth the whole church. Pastoral support was given to the church and help given to the local community wth weekly Good News meetings on Sundays also being shared online. During Christmas 2023 hundreds ol people attended Candlelit Carol Services, with 13,500 hand signed Christmas cards distributed lo Ihose who live and work in the city. A special offering was held in December 2023 to support other churches in sharing the good news of Jesus in their locations. These grfts were all made to the other churches by the end ol December. Works were undertaken lo improve the church's facilities furthèr with thè growing numbers ol pètsple in allendance, aller the renovation projecl in 2022. We look a special ollering in May 2023 which funded additional seals lor the church, the creation ol new storage space lor church equipment, and other improvement works began. We needed to continue to repair our old, lisled building during Ihe year, with dry rot showing itself unexpectedly in the 'school block, part ol the church building. despite some remedial work in 2022 in the allecled area. This work was completed in 2023, and a&Jilionally. CADW kindly part lund8d repair work lo the 'church hall, where part ol the roof was repaired atKI four windows were replaced. The Church conty'nued ils outdoor pavemenl calé and mums and toddlers group lo bglriend those living locally. We organised a low-cosl church weekend away locally lo enjoy GY'S creation - 'Crealion Camping, returned lor the first lime since the pandemic & the upheaval ol the renovation project in 2022, with over 190 camping together. Publlc Benelll Slolement The Trustees confirm that they have complied with the duty in the Charities Act 2011 to have due regard lo the Charity Commission's general guidance on public benefit. The Church provides public benefit principally in the provision ol a Place ol Worship, worship setvices, and by streaming Ihgse services on the public plallorms ol YouTube and Facebook so that the widest range ol people possible can benelil from all that God says an(J all the help he bring5. The Church sèeks lo lullill ils charitable objectives in the advancemeni ol Christianrty and In suk¥)orting ihose in need.
Mount Pleasant Baptist Church CIO Trustees. Annual Report Year ended 31 December 2023 Flnanclal revlew Golng concern The entire assets and liabilities ol the charity were transferred from the original unincorporated association lo the new charilable incorwraled organisalion ICIOI on 1 sl June 2020. Having considered ever changing events and conditions, the Trustees are confident that the charity will continue to meet ts liabilities as they fall due and consider that there are no rnaterial uncertainties that impact on the going concern basis being used lo prepare these financial stalemenls. The accounts comply with the current slalulory requirements and the charitys governing duments. With largely sell-suslaining income. backed up by stror4J resetves. Ihe Church aims lo maximise ils charitable expenditure whilst prudently managing its infrastructure. Total incoming resources IDr the year 01 £392,372 consist ol donatK)ns received of £287.778 associated tax refunds ol £56,781 and other income of £46.716. A signilicanl proportion ol the total expenditure 01 £390.540 relates lo employment costs of £166,927 and non-recurring rwoperty repairs of £84,839 which is noted below under the heading Extraordinary items. Income exceeded experKITture by £1.832 lor the year 10 31 December 2023 (income exrAeded expenditure by £95,496 in the year to 31 December 20221. Reserves Pollcy The Trustees havg examined Ihe level ol reserves held at Ihe year end in light ol the main risks lacing the organisation. A pclicy has been established to maintain free reserves sullicient to cover temporary short-falls in incorne. The Iruslees are aware ol the need 10 aecumulaie suff tient rèsèrves that the Church can continue in 0ratiOn during any short-lerm income shortfall. The free reserves ol the a charrty represent the funds that are Ireety available lo spend. In calculating the Ireg resorves, Ihe Trustees have deducted from tolal lunds any restricted or dosignalgd fund at the period end and the nel book value ol all langible lixed assels as detailed in the accounts. This leaves a surplus ol free reserves al 31 December 2023 01 £76,353 which is deemed lo be a sullicient level of reserves by the Trustees. The lolal designated al the year end lolalled £499. The policy is reviewed by the Trustees on an ongoing basis. Extraordlnary Items- Repalr costs During the year, work continued with the repairs to the buihjing. t84.839 was spent on repairs during the year and £2,153 was spent on capital improvements. Funds were raised from a spgcial oflering from Ihe church members atKJ lurthgr works were completed by late spring 2024. The church was additionally heltd by gills from other chLJrches, and by central government grants equivalent to the VAT expended through the Listed Places ol Worship VAT scheme. The Iruslees, annual rekK>rt was akwroved on ....-................-...-.... and signed on behalf ol the board ol Iruslees by.. B Jones Trustee Charity Secretary
Mount Pleasant Baptist Church CIO Independent Examiner's Report to the Trustees of Mount Pleasant Baptist Church CIO Year ended 31 December 2023 I report lo the Iruslees on my examination ol the financial statements of Mount Pleasant Baptist Church CIO Ilhe charity) lor the year ended 31 De¢emtr 2023. Responslbllltles and bas1$ ol report As the trustees ol the charty you aTe reswnsible lor the preparation ol the financial staternents in accordanee with the requirements ol the Charititis Act 20111'the Act'l. I repcirt in respect ol my examination ol the charity's linancial slalemenls carried out under section 145 ol the 2011 Act and in carrying out my examination I have followed all the applicable Oirections given by the Charity Commission under section 1451Sllbl ol Ihe Act. Independent examiner's statement Since the charity's gross income exceeded £250.(y)O your examiner musl be a member ol a b(Éy listed in section 145 01 the 2011 Act. I confirm that l am qualified lo undertake the examination because l am a member ol the Inslilule ol Chartered Accounlants in England and Wales IICAEWI, which is one ol the listed bodies. I have completed my examination. I conlirm that no material matters have come lo my attention in connection wlh the examinalK>n giving me cause lo believe that in any material respect.. accounting records were not kepl in respgcl ol the charity as required by soclion 130 01 the Act., or the Ilnancial Slalements do not accord wlh those records; or the financial slalemenls do not comply with the appIable requirements conceming th8 form and content ol accounts sel out in the Charities (Accounts and Reports) Regulations 2008 other than any requiremenl that the accounts give a 'lrue and lair, view which is nol a maller considered as part ol an independent examination. I have no concerns an¢J have come across other matters in connection with the examination to which allenlion shoulé be drawn in this rewrt in order lo enatje a proper understanding ol the accounts lo bg reached. Philip Harris F.C.A. Indepgndgnl Examiner 144 Walter Road Swansea SA1 5RW
Mount Pleasant Baptist Church CIO Statement of Financial Activities Year ended 31 December 2023 2023 Restricted funds Total funds Total funds 2022 Unrestr1 funds Note Income and endowments Donations and legacies Investment income Other income 334.667 727 48,157 382.8ZJ 727 8.822 392.372 396,336 116 6,292 Total Income 344.216 48,157 402.744 Expendlture Expenditure on charitable activities Total expendlture 347.014 43,527 390.540 390,540 307.248 347.014 43.527 307,248 Net Income and nel movement In lunds 12,7981 4.630 1,832 95,496 Reconclllallon of funds Total funds brought forward Total funds carrled lorw•rd 522,343 2.572 524,915 429,419 519,545 7,202 526,747 524,915 The slalemenl ol financial activities includes all gains and losses iecognised in the year. All income and expenditure derive Irom conbnuing aclivibes. Thè notès on pagès 8 10 17 fomi part of th finanek11 $tatèmènt$.
Mount Pleasant Baptist Church CIO Statement of Financial Position 31 December 2023 2023 2022 Note Fixod assels Tangible fixed assets 13 442.693 433,706 Current assets Debtors Cash at bank and in hand 14 25,324 74.553 99.877 51,083 ,935 108,018 Credltors: amounts lalllng due wlthln one year Net current assets 15 15.823 16,809 84,054 91,209 Total assets less current Ilabllltlès 526,747 524,915 Fundy of the charbty Restricted funds Unrestricted funds.. Revaluation reseTwe Other unreslricled income lunds 7.202 2,572 235,000 284,545 23S,000 287,343 Totol unre8trlcted fund8 519,545 522,343 Total charlty tunds 18 S26,747 524,915 Thèsé linanual slalèments were approv8d by the board ol Irusleès and authorised lor issuè on and are signed on bèhalf ol the board by= B Jones Trustee Thè notès on pagès 8 10 17 fomi part of th finanek11 $tatèmènt$.
Mount Pleasant Baptist Church CIO Notes to the Financial Statements Year ended 31 December 2023 Gener¥1 Informatlon The charity is a public benefr( enlty and a registered charity in England and Wales and is unincorporated. The address ol the principal office is The Kingsway, Swansea, SA1 5LF. ststement ol compllance These financial statements have been prepared in compliance with FRS 102, The Financial Reporting Standard applicable in the UK and the Republic of IrelarMJ', the Staternent of Recommended Practice applicable lo charilies preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic ol Ireland IFRS 1021 (Charities SORP IFRS 10211 and th8 Charit*s Act 2011. Accountlng pollcles Basis of preparatlon The linanciJ slalemenls have tfjen prepared on Ihe hisiorical cost basis. as modified by the revaluation ol certain financial assets a1 liats'lilies a1 investment properties measured al lair value through income or expermjiture. Thè financial statements are Prepared in sterling, whth is the functional currèncy ol the èntity. Golng concern There are no material uncertainlies about Ihe charills ability lo conlinuo. Fund accounllng Unrestricted lunds are available lor use al Ihe discretion ol the Iruslees to further any ol the charitys purwses. Designated lunds are unre$tried furth earmarked by the tru$tegs lor particular lulure projgGt or commitment. Reslricled funds are subjected lo reslriclions on their expeTrJilure declared by the donor or through the terms ol an aFpeal, a1 fall into one ol S¢lasses.. reslricled income funds or endowment funds.
Mount Pleasant Baptist Church CIO Notes to the Financial Statements (conum) Year ended 31 December 2023 Accountlng pollcles (contIn? Incomlng resources All incoming resources are included in the slalemenl ol financial activities when enlillemenl has passed lo the ¢harity,' il is probable Ihat the e¢onomi¢ benefits a$sl81ed with the transaction will flow to the charity and the amount can be reliably measured. The following spe¢ili¢ policies are applied to particular categories ol income: income from donations or grants is recognised when there is evidence ol enlillemenl lo the gift, receipt is probable and ils amounl ¢an be measured reliably. legacy income is recognised when receipt is pr¢Jbable and enlttlemenl is èstablished. income from donated goods is measured at the lair value ol the goods unless this is impractical to measure reliabty, in which case the value is derived from the cost to the donor or the estimated resale value. Donated lacililies arKJ services are recognised in th8 accounts when r8eeive(l il the value can b& reliatrjy measured. No amounts are included lor the contribution ol general volunteers. income Irom contracts for the supply ol services is recognised with the delivery ol the contracted serwce. This is classified as unreslricled funds unless there is a conlraclual requirement lor il lo be spent on a parlicular purpose and returned il unspent, in which case il may be regarded as restricted. Resource$ expended Exp8ndilure is recognised on an accruals basis as a liability is incurred. Expènditure includ&s any VAT which cannot be lulty reeovered, and is dassilied under headings ol the stal&menl ol financial activities lo which il relates: expenditure on raising lunds includes the costs ol all fundraising a¢livities. events, non- charitable trading aeiivities, and the sale ol donaied goods. expenditure on charitable activities iludeS all costs incurred ty a charity in undertaking aclivitios thal further ils ¢haritablo aims lor the bgnelil ol its beneficiaries. including those support costs and costs relabng to the governance ol the charity apportioned to charitable activities. olhor exp9ndilure includes all experKlilure Ihal is neither related lo raising funds lor Ihg charity nor part ol its exFendilure on charitable activilies. All costs are allocaled to expendilure categories reflecting the use ol the resource. Direct costs attributable lo a single a¢twity are allocated direcdy lo that a¢bvity. Shared costs are apportioned t*tween the activities Ihey conlribule lo on a reasonable. jusliliable and consislenl basis. Tanglble assets Tang1te assets are inttially recorded at cost. and subsequently slated at cost less any ac¢umulaled depreciation arKI impairment losses. Any tangible assets ¢arried al revalued amounts are recorded al the lair value al the dale ol revaluation less any subsequent accumulated deprecialion and subsequent accumulaled impairment losses.
Mount Pleasant Baptist Church CIO Notes to the Financial Statements (conum) Year ended 31 December 2023 Accountlng pollcles (contIn? Tanglble assets {contin¢EdJ An increase in the carrying amount of an asset as a resull ol a revaluation. is recognised in other recognised gains and losses, unless il reverses a charge for impairment that has previously been recognised as expenditure within the statement ol financial acb'vities. A decrease in the carrying amount ol an asset as a resutt ol revaluation. is recognised in other recognised gains and losses, exeepl lo which it offsets any previous revaluation gain. in which case the loss is shown within other recognised gains and losses on the statement ol financial activities. Depreclatlon Depreciation is calculated so as to write off the cost or valuation ol an asset. less its residual value, over the useful economic Iilè ol that asset as follows.. Fittings & equipment Improvements lo Property slraighl li slfaighl line Impalmient of flxed assets A review lor indicators ol impairment is carried out al 8ach reporting dale, with the recoverable amount being eslimaled where such indicators exist. Where the carrwng value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed lor pjssiblg reversal al each rerxjrting dale. For the purposes ol impairmènt testing. when it is not possib to estimatè the recoverable amount ol an individual asset, an estimate is made ol the recoverable amount ol the cash- generating unil lo which the assel belongs. The cash-generaling unil is the smallest identifiable group ol assets that includes the asset and generates cash inflows that largely indep8ndenl ol the cash inflows from olhgr assets or groups ol assgls. For impairment testing ol goodwill, Ihe goodwll acquired in a business combination is, from the acquisition dale. allocated to each ol the cash-generating units that are expected to benefit from the synergies ol the combination, irrespective ol whether other assets or liabilities ol the charity are assigneé lo those units. Government grants Government grants are recognised at the lair value ol ihe asset received or receivable. Grants are not recognised until there is reasonable assurance that the charity will comply with the conditions attaching lo them the granls will be received. Where the granl does not imr*)se specified lulure perlormance-relaled conditions on the recipient, il is recognised in income when Ihe granl proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient. it is recognised in income only when the pertoTmance-related conditions have been mel. Where grants received are prior lo satis.ng the revenue recognrtion criteria, they are recognised as a Flnanclal Instruments A financial asset or a financial liabilrty is recognised onty when the charity becomes a party to the contractual provisions ol the instrument. Basic financial instnjments are inilially recognised al the amount receivable or payable including any relaled transaction costs. 10-
Mount Pleasant Baptist Church CIO Notes to the Financial Statements (conum) Year ended 31 December 2023 Accountlng pollcles (contIn? Flnanclal Instruments (contind) Current assets and current liabilities are subsequently measured al the cash or other consideration expected lo paid or received and not di$nIed. Debt instruments are subsequently measured at amortised cost. Where investments in shares are publicly traded or their lair value can otherwise be measured reliably, the investment is subsequently measured al lair value with changes in lair value recognised in income and exndlIre. All other such investments are subsequenlty measured al cost less impairmenl. Other financial inslrumenls, including derivalives. are inilially recognised al lair value, unless payment lor an asset is deferred beyond normal business lerms or financed al a rale ol inter&sl that is not a market rate, in which case the asset is measvfed al the present value ol the lulure palentS discounted al a mad(el rale ol interest lor a similar debl inslrumenl. Other linanciaj instruments are subsequenlty measured al Iwr value, wilh any changes recognised in the statement ol linaneial activities. with the èxcepli¢)n ol hedging instruments in a designated hedging relationship. Financial assets that are measured al cost or amortised cost are rewewed lor objectiv8 evidence ol impairment al the end ol each reporting dale. 11 Ihere is objective evidence ol impairment, an impairment loss is recognised under the appropriate heading in Ihe staternenl ol linan¢ial activitie5 in which the initial gain was recognised. For all equity instruments regardless ol signilicance, and other linancial assets that are individually signilicanl, these are assessed indiwdualty lor impairment. Other financial assets are eilhgr assessed indivKJually or grouped on Ihe basis ol similar crgdil risk characlerislics. Any reversals ol impairment are recognised immediately, to the extent that the reversal does not result in a carrwng amount ol the linancial asset Ihat excèèds what the carrying amount would have been had the impairmenl not previously been recconised. Donatlons and legacles Unrestricted Fur$ Reslri¢lgd Total Funds Funds 2023 Donatlons Online donatrons Cash donations Gilt Aid from HMRC 227,694 14,215 49,494 40,870 268,563 14.215 56.781 7.287 Lggacios Legacies 5,000 Grants Grants receivable Government grant income 38,264 38.264 382.823 334,667 48.157 11
Mount Pleasant Baptist Church CIO Notes to the Financial Statements (conum) Year ended 31 December 2023 Donatlons and legacles (conlinwd) Unrestricted FurKIs Reslricted Total Funds Funds 2022 Donatlons Online donations Cash donations Gilt Aid from HMRC 241,573 5,076 50,950 44.437 286,010 5,076 60,428 9.478 Legacles Legacies Grants Grants reeèivable Government grant income 9,000 35,822 35,822 333.421 62.915 396,336 Invostment Income Unreslricled Tol•l Fund¥ Unreslricled Total Funds Funds 2023 Funds 2022 Bank interest rKeivable Other interest receivable 727 727 26 26 90 727 727 118 116 Other Income Unreslricled Tol•l Fund¥ Unreslricled Total Funds Funds 2023 Funds 2022 Gain on diswsal ol langitye fixed assets hekd lor charity's own use Other income 370 370 452 6,292 6.292 6,292 6,292 8,822 Expendlture on charltable actlvltles by lund type Unreslricled Funds Reslrieled Total Funds Funds 2023 Charitable activities 347,014 43.527 390.540 Unrestricted FurKJs Restricted Total Funds Funds 2022 Charitable activities 221,028 86,220 307,248 12-
Mount Pleasant Baptist Church CIO Notes to the Financial Statements (conum) Year ended 31 December 2023 Expendlture on ch8rltable actlvltles by a¢tlvtty type Actiwties undertaken Grant tunding Tolal funds directly of aclivrties 2023 Total fund 2022 Charltable actlvltles 358,644 31,896 390.540 307.248 Net Income Nel income is slated after chargingllcredilingi- 2023 2022 Dewecialion ol tangible fixed assets Gains on disposal ol tangible fixed assets 24.782 1370) 18,415 10. Independent examlnatlon lees 2023 2022 Fees payable lo the independenl examiner for.. Independent examination ol the financial stalements Other linanGial services 798 1,482 2.280 770 1,426 2,196 11. Staff costs- excludlng trustees remunerntlon 31.12.23 31.12.22 Wages and salaries Employer's Nl Pension eontribution 94.005 7.494 2,390 103.889 71,941 5,855 2,117 79,913 There were no employees wilh emoluments above £60.IXQ. The lolal employee bgneli¢5 01 the charily's key management personnel including employer Nalional Insurance were £64,66012022 £66,085). The average head count ol employees during the year was 812022: 71. No employee re1Ved employee benefits ol more Ihan £60,000 during Ihe year12022-. Nill. 13-
Mount Pleasant Baptist Church CIO Notes to the Financial Statements (conum) Year ended 31 December 2023 12. Trustee remuneratlon #nd expenses The charity makes payments to Iwo ol its Trustees, Rev S Levy, lor serveS as Church Pastor and J Christie in connection with a church oulreach programme. Their remuneration during the year was as lollows:_ 31.12.23 31.12.22 Trustees. salaries Trustees social security Pension contributions $5.315 5,630 1,298 62,243 52,195 5,508 1,198 58,901 Thè charity's govèrning d¢xument makes provision IOT PayTnents lo be made lo a Trustee. Trustees. expenses The lolal amount ol expenses reimbursed lo Truslees or paid directly lo third parties during the year totalled £2,688. These expenses comprise the reimbursed travel costs and other expenses ol lour Trustees. Ir appears that in many cases the Trustees acted as agents ol the charity and made purchasès on ils behdl. Such eXndi1Ure was noi relaied to Ihè services providèd by th8 Trustees. Church funds have trfftn used lo purchase insUrar8 lo protect the Church from loss arising from the neglect or delaull ol ils Trustees, employees or agents. Church funds have also been used lo purchase insurance io ifKlemnily Trustees and olher officers againsl the consequences ol any neglect or delaull on their part. These insurances have been acquired as part ol Ihe Church's general insurance policies. Consequently, il has not proved practable lo stale Ihe cost ol providitYJ these particular aspects ol insurance Cover. 13. Tanglble flxed Land and buildings Improvement Equipment s lo property Total Cost At 1 Jan 2023 Additions Disposals Al 31 Dgc 2023 235,[• 109,102 31,616 12,8001 137,918 155,078 2,153 499,180 33,769 12,8001 530,149 235,0( 1 $7,231 Depreclatlon At 1 Jan 2023 Charge lor the year Disposals At 31 Dec 20TJ 57,934 21.637 12,8001 7,540 3,145 65.474 24,782 12.8001 87,456 76,771 10,685 Carrylng 8mount Al 31 De¢ 20¥3 235,0Tr) 61,147 146,546 442,693 433,706 At 31 Dec 2022 235,(KKI 51,168 147,538 14-
Mount Pleasant Baptist Church CIO Notes to the Financial Statements (conum) Year ended 31 December 2023 14. Debtors 2023 2022 Trade debtors Prepayments aThJ accrued income Other debtors 14.333 994 9.997 25.324 26,698 467 23,918 51,083 15. Credltor$: amounts lalllng due wlthln one year 2023 2022 Social security and other lax8S Other creditors 3.360 12,463 15,823 4,208 12,601 16,809 16. Granls Analys1$ of Grants 31.12.23 31.12.22 Grants lo Inslilulions FIEC Niddrie Community Church Eglwys Élengyliadd Ardudvry Noddla Baptist Church Gorgie Church Plant Children ol Light, Nepal Other churches 2,0(M) 15.992 2,000 12,000 500 7,931 1,000 1,01)0 203 28,126 14,500 Grants lo inéiwduals 2,986 17,486 31,896 17. Government grants The amounts re¢ognised in Ihe linancial stalements lor governmenl grants are as follows.. 2023 2022 Recognised in income from donations and legacies.. Government oranls income 38.264 35,822 15-
Mount Pleasant Baptist Church CIO Notes to the Financial Statements (conum) Year ended 31 December 2023 18. An¥lysls of charft#ble funds Unrestrlcted funds Al Transfers 31 Dec 2023 Al 1 Jan 2023 Income EXnditUre General funds Revaluation reserve 287,343 235,000 344,216 1347.0141 284.545 235.000 519.545 522,343 344.216 1347.0141 At Transfers 31 Dec 2022 At 1 Jan 2022 Income ExId11re General lunds Revaluation resgrve 161.999 235,000 339,829 1221.0281 287,343 235,000 396,999 339,829 1221,0281 522,343 Rostrleted fund$ At Transfers 31 Dec 2023 Al 1 Jan 2023 Income ExFwdilure Special Project grant Buildino Works Church Gills Soul Church Nealh 2,572 12.5721 30.9451 110.0101 36,913 11.244 5,968 1.234 2,572 48,157 143.5271 7,202 Al Transfers 31 Dec 2022 Al 1 Jan 2022 Income EXnditUre Special Project grant Building Works Church Gilts Soul Church Nealh 7.591 21.000 15,0191 177,3721 2,572 62,915 16,5431 3,829 13,8291 186,2201 32,420 62,915 16,5431 2,572 16-
Mount Pleasant Baptist Church CIO Notes to the Financial Statements (conum) Year ended 31 December 2023 18. An¥lysls of charft#ble funds (contIntt) Restrlcted lunds Special Project Grant This is a fund lor a local outreach project. Al the slart ol the year funds held £2.572. Net expenditure of £2,572 left the fund lully expended al Ihe year eNI. Bulldlng Works A special ollering towards the renovation works ol the main building was taken in the spring ot 2023 with £36,912 being received lincluding a gill amj clwm of £6,1331. Expenditure of £30,945 left a bJance 01 £5,967 al the year end which is represenled by a bank balance. Church glfts A special ollering was taken in December 2023 for gospel work in other churchès, and lor those who donl know Christ in Swansea wrth £11.244 being received. Expenditure of £10,010 lèft a balance al the year of £1,234 which is represented ty a bank balance. Deslgnaled lunds Designated funds are part of the charitys total unreslricted general funds noted above and represent amounts set aside by the Trustees to be used lor particular purposes in the future. The Trustees have the power to re-designale such funds within unrestricted funds. Designated funds are not disclosed separately on the charills Slalemenl ol Financial Activities nor on ils Balance Sheet. Designated fund balances al Ihg year end were as lollow5:. Eccentrics Conference 499 19. Related partles Rolatod party dl¥¢lo¥ures The aggregate value ol uncondilional donations made by the Trustees in the year lo 31 Dgcgmber 2023 was £51.5701£52.830. 20221. 17-