**CHARITY REGISTRATION NUMBER: 1187005**
## **Mount Pleasant Baptist Church CIO Unaudited Financial Statements**
**31 December 2024**
## **Mount Pleasant Baptist Church CIO**
## **Financial Statements**
## **Year ended 31 December 2024**
||**Page**|
|---|---|
|Trustees' annual report|**1**|
|Independent examiner's report to the trustees|**6**|
|Statement of financial activities|**7**|
|Statement of financial position|**8**|
|Notes to the financial statements|**9**|
## **Mount Pleasant Baptist Church CIO**
## **Trustees' Annual Report**
## **Year ended 31 December 2024**
The trustees present their report and the unaudited financial statements of the charity for the year ended 31 December 2024.
## **Reference and administrative details**
**Registered charity name** Mount Pleasant Baptist Church CIO **Charity registration number** 1187005 **Principal office** The Kingsway Swansea SA1 5LF **The trustees** G Morris (Resigned 4 March 2025) S Levy J Christie B Jones L Davies J Lau (Appointed 16 July 2024) **Independent examiner** Philip Harris F.C.A. 144 Walter Road Swansea SA1 5RW
## **Structure, governance and management**
## **Governing document**
Mount Pleasant Baptist Church CIO was established on 17 December 2019, becoming operational from 1 June 2020 with assets transferred from the previous charity with effect from that date. The charity is governed by the Board of Trustees who are responsible for controlling the management and administration of the Church. The Board of Trustees are governed by the charity's constitution which is based on the Charity Commission Foundation Model for a Charitable Incorporated Organisation (CIO).
## **Induction and training of new trustees**
Church members appoint Trustees by a resolution passed at a properly convened Church meeting and in accordance with the Church rules. The Trustees are responsible for the induction of any new Trustee. This involves making them aware of a Trustee's responsibilities and of the nature of the governing document and administrative procedures. New Trustees receive a copy of the charity's governing document together with a copy of the charity's latest Annual Report and Accounts.
## **Key management remuneration**
The board of Trustees, Tom Martyn and Dafydd Taylor, are considered to be the key management personnel of the charity. Details of Trustee remuneration or other benefits are disclosed at note 12. Details of Trustee expenses and related party transactions are disclosed in notes 12 and 19 respectively. Payments to other key management personnel are given at note 11.
**- 1 -**
## **Mount Pleasant Baptist Church CIO**
## **Trustees' Annual Report** _**(continued)**_
## **Year ended 31 December 2024**
## **Structure, governance and management** _**(continued)**_
## **Risk Management**
The Trustees have conducted a review of the major risks to which the charity is exposed. Where appropriate, systems or procedures have been established to mitigate the risk the charity faces. These procedures are periodically reviewed to ensure they continue to meet the needs of the charity.
## **Objectives and activities**
Mount Pleasant Baptist Church, Swansea seeks to continue the old work of every local church - sharing the good news of the forgiveness of sins through Jesus Christ to every person that lives nearby, following him together, bringing the grace and peace of the Living God to people's lives, for life and for death.
We are currently approximately 220 members and have links with other churches across South Wales and the wider UK and other parts of the world, who we partner with in prayer and with help as they share this good news in their neighbourhoods.
Our legal purpose is the advancement of the Christian faith in accordance with the basis of faith primarily but not exclusively within Swansea and the surrounding area; and other such charitable purposes as shall, in the opinion of the Trustees, further the work of the church. We have a prominent site in the centre of the city which we seek to use fully to serve our local community with all the help God brings his church.
## **Staffing and volunteering**
The church employs four full time staff and has nine staff overall. More than a hundred and seventyfive people regularly volunteer in a whole variety of capacities, without whom the work of the church simply could not happen. It is not possible to place a monetary value on the contributions made by volunteers nor are figures available that show how many hours of service they provide.
**- 2 -**
## **Mount Pleasant Baptist Church CIO**
## **Trustees' Annual Report** _**(continued)**_
## **Year ended 31 December 2024**
## **Achievements and performance**
Activities during 2024 have included a worship service on a Sunday morning, a good news meeting for everyone in the city centre on a Sunday evening, & weekly prayer meetings to pray for our city and neighbourhoods and people working across the area, as well as for our members. The children and the wider church shared and read a book of the Bible together each month, sharing what God says with one another, and in the summer and Christmas holidays did one project on Daniel and another on Matthew sharing God's word with the whole church. Pastoral support was given to the church and help given to the local community with weekly Good News meetings on Sundays also being shared online. During Christmas 2024 hundreds of people attended each of the four Candlelit Carol Services, with 14,500 hand signed Christmas cards distributed to those who live & work in the city.
A special offering was held in December 2024 to support other churches sharing the good news of Jesus with the people in their areas, with gifts being distributed as soon as possible after the collection date.
The church invested in new improvements to the building to help facilitate the church's charitable objectives and goals. A new access ramp was completed in February 2024, providing level access through the main entrance for the first time, to make the whole building more user-friendly and accessible.
The church celebrates its 200-year anniversary in 2025, and a special offering was taken in May 2024 to help fund further improvements for the gospel to go out during this special year. The church invested in an outdoor lighting scheme to light up our grade II* listed building during the nights & winter months, for the benefit of the city.
The trustees note here their thanks to the Benefact Trust, who provided a grant of £3,750 towards the cost of the lighting scheme.
The church also invested in new facilities to provide an indoor café area for the community, which will now be open twice a week.
During the course of the year the church also continued its outdoor pavement café and mums and toddlers group to befriend those living locally.
We organised a low-cost church weekend away locally to enjoy God's creation - 'Creation Camping' with 235 people from three churches in attendance.
## **Public Benefit Statement**
The Trustees confirm that they have complied with the duty in the Charities Act 2011 to have due regard to the Charity Commission's general guidance on public benefit. The Church provides public benefit principally in the provision of a Place of Worship, worship services, and by streaming these services on the public platforms of YouTube and Facebook so that the widest range of people possible can benefit from all that God says and all the help he brings. The Church seeks to fulfill its charitable objectives in the advancement of Christianity and in supporting those in need.
**- 3 -**
## **Mount Pleasant Baptist Church CIO**
**Trustees' Annual Report** _**(continued)**_
## **Year ended 31 December 2024**
## **Financial review**
## **Going concern**
The entire assets and liabilities of the charity were transferred from the original unincorporated association to the new charitable incorporated organisation (CIO) on 1st June 2020.
Having considered ever changing events and conditions, the Trustees are confident that the charity will continue to meet its liabilities as they fall due and consider that there are no material uncertainties that impact on the going concern basis being used to prepare these financial statements.
The accounts comply with the current statutory requirements and the charity's governing documents.
With largely self-sustaining income, backed up by strong reserves, the Church aims to maximise its charitable expenditure whilst prudently managing its infrastructure. Total incoming resources for the year of £372,223 consist of donations received of £298,895 associated tax refunds of £58,889 and other income of £14,439. Total expenditure of amounted to £347,891 and income exceeded expenditure by £24,332 for the year to 31 December 2024 (income exceeded expenditure by £1,832 in the year to 31 December 2023).
During the year, work continued with the repairs to the building. £14,698 was spent on repairs during the year and £81,848 was spent on capital improvements.
Funds were raised from a special offering from the church members and further works were completed by late spring 2024. The church was additionally helped by gifts from other churches, a grant from the Benefact Trust, and by central government grants equivalent to the VAT expended through the Listed Places of Worship VAT scheme.
## **Reserves Policy**
The Trustees have examined the level of reserves held at the year end in light of the main risks facing the organisation. A policy has been established to maintain free reserves sufficient to cover temporary short-falls in income. The trustees are aware of the need to accumulate sufficient reserves so that the Church can continue in operation during any short-term income shortfall.
The free reserves of the a charity represent the funds that are freely available to spend. In calculating the free reserves, the Trustees have deducted from Total charity funds of £551,078 any restricted or designated fund at the period end and the net book value of all tangible fixed assets as detailed in the accounts. This leaves a surplus of free reserves at 31 December 2024 of £36,866 which is deemed to be a sufficient level of reserves by the Trustees. The total funds designated at the year end totalled £499.
The policy is reviewed by the Trustees on an ongoing basis.
**- 4 -**
## **Mount Pleasant Baptist Church CIO**
**Trustees' Annual Report** _**(continued)**_
## **Year ended 31 December 2024**
The trustees' annual report was approved on 9 May 2025 and signed on behalf of the board of trustees by:
B Jones Trustee
Charity Secretary
**- 5 -**
## **Mount Pleasant Baptist Church CIO**
## **Independent Examiner's Report to the Trustees of Mount Pleasant Baptist Church CIO**
## **Year ended 31 December 2024**
I report to the trustees on my examination of the financial statements of Mount Pleasant Baptist Church CIO ('the charity') for the year ended 31 December 2024.
## **Responsibilities and basis of report**
As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (‘the Act’).
I report in respect of my examination of the charity's financial statements carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
## **Independent examiner's statement**
Since the charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales (ICAEW), which is one of the listed bodies.
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
1. accounting records were not kept in respect of the charity as required by section 130 of the Act; or
2. the financial statements do not accord with those records; or
3. the financial statements do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair' view which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Philip Harris F.C.A. Independent Examiner 144 Walter Road Swansea SA1 5RW
**- 6 -**
## **Mount Pleasant Baptist Church CIO**
## **Statement of Financial Activities**
## **Year ended 31 December 2024**
||||**2024**||2023|
|---|---|---|---|---|---|
|||Unrestricted|Restricted|||
|||funds|funds|**Total funds**|Total funds|
||**Note**|**£**|**£**|**£**|£|
|**Income and endowments**||||||
|Donations and legacies|**4**|306,073|58,943|**365,016**|382,823|
|Investment income|**5**|834|–|**834**|727|
|Other income|**6**|6,373|–|**6,373**|8,822|
|||ৄৄৄৄৄৄৄৄৄ|ৄৄৄৄৄৄৄৄ|ৄৄৄৄৄৄৄৄৄ|ৄৄৄৄৄৄৄৄৄ|
|**Total income**||313,280|58,943|**372,223**|392,372|
|||৶৶৶৶৶৶৶৶৶|৶৶৶৶৶৶৶৶|৶৶৶৶৶৶৶৶৶|৶৶৶৶৶৶৶৶৶|
|**Expenditure**||||||
|Expenditure on charitable activities|**7,8**|281,162|66,729|**347,891**|390,540|
|||ৄৄৄৄৄৄৄৄৄ|ৄৄৄৄৄৄৄৄ|ৄৄৄৄৄৄৄৄৄ|ৄৄৄৄৄৄৄৄৄ|
|**Total expenditure**||281,162|66,729|**347,891**|390,540|
|||৶৶৶৶৶৶৶৶৶|৶৶৶৶৶৶৶৶|৶৶৶৶৶৶৶৶৶|৶৶৶৶৶৶৶৶৶|
|||ৄৄৄৄৄৄৄৄৄ|ৄৄৄৄৄৄৄৄ|ৄৄৄৄৄৄৄৄৄ|ৄৄৄৄৄৄৄৄৄ|
|**Net income**||32,118|(7,786)|**24,332**|1,832|
|||৶৶৶৶৶৶৶৶৶|৶৶৶৶৶৶৶৶|৶৶৶৶৶৶৶৶৶|৶৶৶৶৶৶৶৶৶|
|Transfers between funds||(584)|584|**–**|–|
|||ৄৄৄৄৄৄৄৄৄ|ৄৄৄৄৄৄৄৄ|ৄৄৄৄৄৄৄৄৄ|ৄৄৄৄৄৄৄৄৄ|
|**Net movement in funds**||31,534|(7,202)|**24,332**|1,832|
|**Reconciliation of funds**||||||
|Total funds brought forward||519,545|7,202|**526,747**|524,915|
|||ৄৄৄৄৄৄৄৄৄ|ৄৄৄৄৄৄৄৄ|ৄৄৄৄৄৄৄৄৄ|ৄৄৄৄৄৄৄৄৄ|
|**Total funds carried forward**||551,079|–|**551,079**|526,747|
|||৶৶৶৶৶৶৶৶৶|৶৶৶৶৶৶৶৶|৶৶৶৶৶৶৶৶৶|৶৶৶৶৶৶৶৶৶|
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
**The notes on pages 9 to 18 form part of these financial statements.**
**- 7 -**
## **Mount Pleasant Baptist Church CIO**
## **Statement of Financial Position**
## **31 December 2024**
|||**2024**||2023|
|---|---|---|---|---|
||**Note**|**£**|**£**|£|
|**Fixed assets**|||||
|Tangible fixed assets|**13**||**513,713**|442,693|
|**Current assets**|||||
|Debtors|**14**|**31,582**||25,324|
|Cash at bank and in hand||**41,689**||74,553|
|||ৄৄৄৄৄৄৄৄ||ৄৄৄৄৄৄৄৄ|
|||**73,271**||99,877|
|**Creditors: amounts falling due within one year**|**15**|**35,905**||15,823|
|||ৄৄৄৄৄৄৄৄ||ৄৄৄৄৄৄৄৄ|
|**Net current assets**|||**37,366**|84,054|
||||ৄৄৄৄৄৄৄৄৄ|ৄৄৄৄৄৄৄৄৄ|
|**Total assets less current liabilities**|||**551,079**|526,747|
||||৶৶৶৶৶৶৶৶৶|৶৶৶৶৶৶৶৶৶|
|**Funds of the charity**|||||
|Restricted funds|||**–**|7,202|
|Unrestricted funds:|||||
|Revaluation reserve||**235,000**||235,000|
|Other unrestricted income funds||**316,079**||284,545|
|||ৄৄৄৄৄৄৄৄৄ||ৄৄৄৄৄৄৄৄৄ|
|**Total unrestricted funds**||**551,079**||519,545|
||||ৄৄৄৄৄৄৄৄৄ|ৄৄৄৄৄৄৄৄৄ|
|**Total charity funds**|**18**||**551,079**|526,747|
||||৶৶৶৶৶৶৶৶৶|৶৶৶৶৶৶৶৶৶|
These financial statements were approved by the board of trustees and authorised for issue on 9 May 2025, and are signed on behalf of the board by:
B Jones Trustee
**The notes on pages 9 to 18 form part of these financial statements.**
**- 8 -**
## **Mount Pleasant Baptist Church CIO**
## **Notes to the Financial Statements**
## **Year ended 31 December 2024**
## **1. General information**
The charity is a public benefit entity and a registered charity in England and Wales and is unincorporated. The address of the principal office is The Kingsway, Swansea, SA1 5LF.
## **2. Statement of compliance**
These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (Charities SORP (FRS 102)) and the Charities Act 2011.
## **3. Accounting policies**
## **Basis of preparation**
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.
The financial statements are prepared in sterling, which is the functional currency of the entity.
## **Going concern**
There are no material uncertainties about the charity's ability to continue.
## **Fund accounting**
Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.
Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment.
Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.
**- 9 -**
**Mount Pleasant Baptist Church CIO**
**Notes to the Financial Statements** _**(continued)**_
## **Year ended 31 December 2024**
## **3. Accounting policies** _**(continued)**_
## **Incoming resources**
All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:
- income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.
- legacy income is recognised when receipt is probable and entitlement is established.
- income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers.
- income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.
## **Resources expended**
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:
- expenditure on raising funds includes the costs of all fundraising activities, events, noncharitable trading activities, and the sale of donated goods.
- expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities.
- other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.
All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.
## **Tangible assets**
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
**- 10 -**
**Mount Pleasant Baptist Church CIO**
**Notes to the Financial Statements** _**(continued)**_
## **Year ended 31 December 2024**
## **3. Accounting policies** _**(continued)**_
## **Tangible assets** _**(continued)**_
An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other recognised gains and losses, unless it reverses a charge for impairment that has previously been recognised as expenditure within the statement of financial activities. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other recognised gains and losses, except to which it offsets any previous revaluation gain, in which case the loss is shown within other recognised gains and losses on the statement of financial activities.
## **Depreciation**
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fittings & equipment - 20% straight line Improvements to Property - 2% straight line
## **Impairment of fixed assets**
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cashgenerating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the charity are assigned to those units.
## **Government grants**
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the charity will comply with the conditions attaching to them and the grants will be received.
Where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.
## **Financial instruments**
A financial asset or a financial liability is recognised only when the charity becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs.
**- 11 -**
**Mount Pleasant Baptist Church CIO**
**Notes to the Financial Statements** _**(continued)**_
## **Year ended 31 December 2024**
## **3. Accounting policies** _**(continued)**_
## **Financial instruments** _**(continued)**_
Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted.
Debt instruments are subsequently measured at amortised cost.
Where investments in shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in income and expenditure. All other such investments are subsequently measured at cost less impairment.
Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Other financial instruments are subsequently measured at fair value, with any changes recognised in the statement of financial activities, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised under the appropriate heading in the statement of financial activities in which the initial gain was recognised.
For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impairment are recognised immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
## **4. Donations and legacies**
||Unrestricted|Restricted|**Total Funds**|
|---|---|---|---|
||Funds|Funds|**2024**|
||£|£|**£**|
|**Donations**||||
|Online donations|226,187|55,193|**281,380**|
|Cash donations|17,015|–|**17,015**|
|Gift Aid from HMRC|58,889|–|**58,889**|
|**Legacies**||||
|Legacies|500|–|**500**|
|**Grants**||||
|Grants receivable|–|3,750|**3,750**|
|Government grant income|3,482|–|**3,482**|
||ৄৄৄৄৄৄৄৄৄ|ৄৄৄৄৄৄৄৄ|ৄৄৄৄৄৄৄৄৄ|
||306,073
৶৶৶৶৶৶৶৶৶|58,943
৶৶৶৶৶৶৶৶|**365,016**
৶৶৶৶৶৶৶৶৶|
**- 12 -**
## **Mount Pleasant Baptist Church CIO**
## **Notes to the Financial Statements** _**(continued)**_
## **Year ended 31 December 2024**
|**4.**|**Donations and legacies** **_(continued)_**|||||
|---|---|---|---|---|---|
||||Unrestricted|Restricted|Total Funds|
||||Funds|Funds|2023|
||||£|£|£|
||**Donations**|||||
||Online donations||227,694|40,870|268,563|
||Cash donations||14,215|–|14,215|
||Gift Aid from HMRC||49,494|7,287|56,781|
||**Legacies**|||||
||Legacies||5,000|–|5,000|
||**Grants**|||||
||Grants receivable||–|–|–|
||Government grant income||38,264|–|38,264|
||||ৄৄৄৄৄৄৄৄৄ|ৄৄৄৄৄৄৄৄ|ৄৄৄৄৄৄৄৄৄ|
||||334,667|48,157|382,823|
||||৶৶৶৶৶৶৶৶৶|৶৶৶৶৶৶৶৶|৶৶৶৶৶৶৶৶৶|
|**5.**|**Investment income**|||||
|||Unrestricted|**Total Funds**|Unrestricted|Total Funds|
|||Funds|**2024**|Funds|2023|
|||£|**£**|£|£|
||Bank interest receivable|817|**817**|727|727|
||Other interest receivable|17|**17**|–|–|
|||ৄৄৄৄ|ৄৄৄৄ|ৄৄৄৄ|ৄৄৄৄ|
|||834|**834**|727|727|
|||৶৶৶৶|৶৶৶৶|৶৶৶৶|৶৶৶৶|
|**6.**|**Other income**|||||
|||Unrestricted|**Total Funds**|Unrestricted|Total Funds|
|||Funds|**2024**|Funds|2023|
|||£|**£**|£|£|
||Gain on disposal of tangible fixed|||||
||assets held for charity's own use|(2,340)|**(2,340)**|370|370|
||Other income|8,713|**8,713**|8,452|8,452|
|||ৄৄৄৄৄৄৄ|ৄৄৄৄৄৄৄ|ৄৄৄৄৄৄৄ|ৄৄৄৄৄৄৄ|
|||6,373|**6,373**|8,822|8,822|
|||৶৶৶৶৶৶৶|৶৶৶৶৶৶৶|৶৶৶৶৶৶৶|৶৶৶৶৶৶৶|
|**7.**|**Expenditure on charitable activities**|**by fund type**||||
||||Unrestricted|Restricted|**Total Funds**|
||||Funds|Funds|**2024**|
||||£|£|**£**|
||**Charitable activities**||281,162|66,729|**347,891**|
||||৶৶৶৶৶৶৶৶৶|৶৶৶৶৶৶৶৶|৶৶৶৶৶৶৶৶৶|
||||Unrestricted|Restricted|Total Funds|
||||Funds|Funds|2023|
||||£|£|£|
||**Charitable activities**||347,014|43,527|390,540|
||||৶৶৶৶৶৶৶৶৶|৶৶৶৶৶৶৶৶|৶৶৶৶৶৶৶৶৶|
**- 13 -**
## **Mount Pleasant Baptist Church CIO**
## **Notes to the Financial Statements** _**(continued)**_
## **Year ended 31 December 2024**
## **8. Expenditure on charitable activities by activity type**
|||Activities||||
|---|---|---|---|---|---|
|||undertaken|Grant funding|**Total funds**|Total fund|
|||directly|of activities|**2024**|2023|
|||£|£|**£**|£|
||**Charitable activities**|306,992|40,899|**347,891**|390,540|
|||৶৶৶৶৶৶৶৶৶|৶৶৶৶৶৶৶৶|৶৶৶৶৶৶৶৶৶|৶৶৶৶৶৶৶৶৶|
|**9.**|**Net income**|||||
||Net income is stated after charging/(crediting):|||||
|||||**2024**|2023|
|||||**£**|£|
||Depreciation of tangible fixed assets|||**28,575**|24,782|
||Loss/(gains) on disposal of tangible fixed|assets||**2,340**|(370)|
|||||৶৶৶৶৶৶৶৶|৶৶৶৶৶৶৶৶|
|**10.**|**Independent examination fees**|||||
|||||**2024**|2023|
|||||**£**|£|
||Fees payable to the independent examiner for:|||||
||Independent examination of the financial|statements||**953**|798|
||Other financial services|||**1,771**|1,482|
|||||ৄৄৄৄৄৄৄ|ৄৄৄৄৄৄৄ|
|||||**2,724**|2,280|
|||||৶৶৶৶৶৶৶|৶৶৶৶৶৶৶|
|**11.**|**Staff costs - excluding trustees remuneration**|||||
The total staff costs and employee benefits for the reporting period are analysed as follows:
||**2024**|2023|
|---|---|---|
||**£**|£|
|Wages and salaries|**186,376**|166,927|
||৶৶৶৶৶৶৶৶৶|৶৶৶৶৶৶৶৶৶|
||**31.12.24**|31.12.23|
||**£**|£|
|Wages and salaries|**109,922**|94,005|
|Employer's NI|**8,971**|7,494|
|Pension contribution|**2,727**|2,390|
||ৄৄৄৄৄৄৄৄৄ|ৄৄৄৄৄৄৄৄৄ|
||**121,620**
৶৶৶৶৶৶৶৶৶|103,889
৶৶৶৶৶৶৶৶৶|
There were no employees with emoluments above £60,000. The total employee benefits of the charity's key management personnel including employer National Insurance were £79,023 (2023 - £64,660).
The average head count of employees during the year was 9 (2023: 8).
No employee received employee benefits of more than £60,000 during the year (2023: Nil).
**- 14 -**
## **Mount Pleasant Baptist Church CIO**
## **Notes to the Financial Statements** _**(continued)**_
## **Year ended 31 December 2024**
## **12. Trustee remuneration and expenses**
The charity makes payments to two of its Trustees, Rev S Levy, for services as Church Pastor and J Christie in connection with a church outreach programme. Their remuneration during the year was as follows:-
|year was as follows:-|||
|---|---|---|
||**31.12.24**|31.12.23|
||**£**|£|
|Trustees' salaries|**56,973**|55,315|
|Trustees social security|**5,802**|5,630|
|Pension contributions|**1,337**|1,298|
||ৄৄৄৄৄৄৄৄ|ৄৄৄৄৄৄৄৄ|
||**64,112**
৶৶৶৶৶৶৶৶|62,243
৶৶৶৶৶৶৶৶|
The charity's governing document makes provision for payments to be made to a Trustee.
## **Trustees' expenses**
The total amount of expenses reimbursed to Trustees or paid directly to third parties during the year totalled £1,900. These expenses comprise the reimbursed travel costs and other expenses of three Trustees.
Church funds have been used to obtain insurance to protect the Church from loss arising from the neglect or default of its Trustees, employees or agents. Church funds have also been used to obtain insurance to indemnify Trustees and other officers against the consequences of any neglect or default on their part.
These insurances have been acquired as part of the Church's general insurance policies. Consequently, it is not practicable to state the cost of providing these particular aspects of insurance cover.
## **13. Tangible fixed assets**
||Land and||Improvement||
|---|---|---|---|---|
||buildings|Equipment|s to property|**Total**|
||£|£|£|**£**|
|**Cost**|||||
|At 1 Jan 2024|235,000|137,918|157,231|**530,149**|
|Additions|–|20,089|81,847|**101,936**|
|Disposals|–|(10,597)|–|**(10,597)**|
||ৄৄৄৄৄৄৄৄৄ|ৄৄৄৄৄৄৄৄৄ|ৄৄৄৄৄৄৄৄৄ|ৄৄৄৄৄৄৄৄৄ|
|**At 31 Dec 2024**|235,000|147,410|239,078|**621,488**|
||৶৶৶৶৶৶৶৶৶|৶৶৶৶৶৶৶৶৶|৶৶৶৶৶৶৶৶৶|৶৶৶৶৶৶৶৶৶|
|**Depreciation**|||||
|At 1 Jan 2024|–|76,771|10,685|**87,456**|
|Charge for the year|–|23,794|4,781|**28,575**|
|Disposals|–|(8,256)|–|**(8,256)**|
||ৄৄৄৄৄৄৄৄৄ|ৄৄৄৄৄৄৄৄৄ|ৄৄৄৄৄৄৄৄৄ|ৄৄৄৄৄৄৄৄৄ|
|**At 31 Dec 2024**|–|92,309|15,466|**107,775**|
||৶৶৶৶৶৶৶৶৶|৶৶৶৶৶৶৶৶৶|৶৶৶৶৶৶৶৶৶|৶৶৶৶৶৶৶৶৶|
|**Carrying amount**|||||
|**At 31 Dec 2024**|235,000|55,101|223,612|**513,713**|
||৶৶৶৶৶৶৶৶৶|৶৶৶৶৶৶৶৶৶|৶৶৶৶৶৶৶৶৶|৶৶৶৶৶৶৶৶৶|
|At 31 Dec 2023|235,000|61,147|146,546|442,693|
||৶৶৶৶৶৶৶৶৶|৶৶৶৶৶৶৶৶৶|৶৶৶৶৶৶৶৶৶|৶৶৶৶৶৶৶৶৶|
**- 15 -**
## **Mount Pleasant Baptist Church CIO**
## **Notes to the Financial Statements** _**(continued)**_
## **Year ended 31 December 2024**
## **14. Debtors**
|||**2024**|2023|
|---|---|---|---|
|||**£**|£|
||Trade debtors|**27,439**|14,333|
||Prepayments and accrued income|**660**|994|
||Other debtors|**3,483**|9,997|
|||ৄৄৄৄৄৄৄৄ|ৄৄৄৄৄৄৄৄ|
|||**31,582**|25,324|
|||৶৶৶৶৶৶৶৶|৶৶৶৶৶৶৶৶|
|**15.**|**Creditors:** **amounts falling due within one year**|||
|||**2024**|2023|
|||**£**|£|
||Social security and other taxes|**3,588**|3,360|
||Other creditors|**32,317**|12,463|
|||ৄৄৄৄৄৄৄৄ|ৄৄৄৄৄৄৄৄ|
|||**35,905**|15,823|
|||৶৶৶৶৶৶৶৶|৶৶৶৶৶৶৶৶|
|**16.**|**Grants**|||
||**Analysis of Grants**|||
|||**31.12.24**|31.12.23|
|||**£**|£|
||Grants to Institutions|||
||FIEC|**500**|2,000|
||Niddrie Community Church|**15,417**|15,992|
||Bethany English Baptist Church|**2,500**|–|
||Noddfa Baptist Church|**3,693**|7,931|
||Gorgie Church Plant|**–**|1,000|
||Children of Light, Nepal|**12,573**|1,000|
||Grace Church Ukraine|**1,000**|–|
||Other churches|**–**|203|
|||ৄৄৄৄৄৄৄৄ|ৄৄৄৄৄৄৄৄ|
|||**35,683**|28,126|
||Grants to individuals|**5,216**|3,770|
|||ৄৄৄৄৄৄৄৄ|ৄৄৄৄৄৄৄৄ|
|||**40,899**|31,896|
|||৶৶৶৶৶৶৶৶|৶৶৶৶৶৶৶৶|
|**17.**|**Government grants**|||
||The amounts recognised in the financial statements for government grants are as follows:|||
|||**2024**|2023|
|||**£**|£|
||Recognised in income from donations and legacies:|||
||Government grants income|**3,482**|38,264|
|||৶৶৶৶৶৶৶|৶৶৶৶৶৶৶৶|
**- 16 -**
## **Mount Pleasant Baptist Church CIO**
## **Notes to the Financial Statements** _**(continued)**_
## **Year ended 31 December 2024**
## **18. Analysis of charitable funds**
## **Unrestricted funds**
|**Unrestricted funds**||||||
|---|---|---|---|---|---|
||||||**At**|
||At 1 Jan 2024|Income|Expenditure|Transfers|**31 Dec 2024**|
||£|£|£|£|**£**|
|General funds|284,545|313,280|(281,162)|(584)|**316,079**|
|Revaluation reserve|235,000|–|–|–|**235,000**|
||ৄৄৄৄৄৄৄৄৄ|ৄৄৄৄৄৄৄৄৄ|ৄৄৄৄৄৄৄৄৄ|ৄৄৄৄ|ৄৄৄৄৄৄৄৄৄ|
||519,545|313,280|(281,162)|(584)|**551,079**|
||৶৶৶৶৶৶৶৶৶|৶৶৶৶৶৶৶৶৶|৶৶৶৶৶৶৶৶৶|৶৶৶৶|৶৶৶৶৶৶৶৶৶|
||||||At|
||At 1 Jan 2023|Income|Expenditure|Transfers|31 Dec 2023|
||£|£|£|£|£|
|General funds|287,343|344,216|(347,014)|–|284,545|
|Revaluation reserve|235,000|–|–|–|235,000|
||ৄৄৄৄৄৄৄৄৄ|ৄৄৄৄৄৄৄৄৄ|ৄৄৄৄৄৄৄৄৄ|ৄৄৄৄ|ৄৄৄৄৄৄৄৄৄ|
||522,343|344,216|(347,014)|–|519,545|
||৶৶৶৶৶৶৶৶৶|৶৶৶৶৶৶৶৶৶|৶৶৶৶৶৶৶৶৶|৶৶৶৶|৶৶৶৶৶৶৶৶৶|
|**Restricted funds**||||||
||||||**At**|
||At 1 Jan 2024|Income|Expenditure|Transfers|**31 Dec 2024**|
||£|£|£|£|**£**|
|Special Project grant|–|–|–|–|**–**|
|Building Works|5,968|42,156|(48,708)|584|**–**|
|Church Gifts|1,234|16,787|(18,021)|–|**–**|
||ৄৄৄৄৄৄৄ|ৄৄৄৄৄৄৄৄ|ৄৄৄৄৄৄৄৄ|ৄৄৄৄ|ৄৄৄৄ|
||7,202|58,943|(66,729)|584|**–**|
||৶৶৶৶৶৶৶|৶৶৶৶৶৶৶৶|৶৶৶৶৶৶৶৶|৶৶৶৶|৶৶৶৶|
||||||At|
||At 1 Jan 2023|Income|Expenditure|Transfers|31 Dec 2023|
||£|£|£|£|£|
|Special Project grant|2,572|–|(2,572)|–|–|
|Building Works|–|36,913|(30,945)|–|5,968|
|Church Gifts|–|11,244|(10,010)|–|1,234|
||ৄৄৄৄৄৄৄ|ৄৄৄৄৄৄৄৄ|ৄৄৄৄৄৄৄৄ|ৄৄৄৄ|ৄৄৄৄৄৄৄ|
||2,572|48,157|(43,527)|–|7,202|
||৶৶৶৶৶৶৶|৶৶৶৶৶৶৶৶|৶৶৶৶৶৶৶৶|৶৶৶৶|৶৶৶৶৶৶৶|
**- 17 -**
**Mount Pleasant Baptist Church CIO**
## **Notes to the Financial Statements** _**(continued)**_
## **Year ended 31 December 2024**
## **18. Analysis of charitable funds** _**(continued)**_
## **Restricted funds**
## **Building Works**
A special offering towards the renovation works of the main building was taken in the spring of 2023 with a balance of £5,967 being brought forward. A further special offering was taken in the spring of 2024 with £38,406 being received (including a gift aid claim of £6,211). A grant of £3,750 towards renovation of lighting was received from the Benefact Trust. Expenditure of £48,708 left a deficit of £584, which was covered by a transfer from general funds, leaving the fund fully expended at the year end.
## **Church gifts**
The opening balance on this fund was £1,234. A special offering was taken in November 2024 for gospel work in other churches, and for those who don't know Christ in Swansea with £16,787 being received. Expenditure of £7,734 and a commitment of £10,287 left the fund fully expended at the year end.
## **Designated funds**
Designated funds are part of the charity's total unrestricted general funds noted above and represent amounts set aside by the Trustees to be used for particular purposes in the future. The Trustees have the power to re-designate such funds within unrestricted funds. Designated funds are not disclosed separately on the charity's Statement of Financial Activities nor on its Balance Sheet.
Designated fund balances at the year end were as follows:-
£ Eccentrics Conference 499
## **19. Related parties**
## **Related party disclosures**
The aggregate value of unconditional donations made by the Trustees in the year to 31 December 2024 was £56,672 (£51,570 - 2023).
**- 18 -**