2023-12-31-accounts

Broadmead Baptist Church (A Charitable Incorporated Organisation, Charity Number: 1191289) Trustees, Report and Annual Accounts For the year ended 31 December 2023

BROADMEAD BAPTIST CHURCH CONTENTS Page Reference and Administrative Information Trustee Annual Repoit Independent Examiner's Report Statement of Financial Activities Balance Sheet Cash Flow Statement Notes to the Accounts 10-23

BROADMEAD BAPTIST CHURCH REFEREN￿ AND ADMINISTRATIVE INFORMATION For the yeorended31 December2023 Charity status On 15 September 2020 Broadmead Baptist Church registered a5 a Charitable Incorporated Organisation I'CIO"). The asset5 and liabilities of Broadmead Bapt15t Church, which historically operated as an excepted Charity under sub-section 5 of the Charities Act 1993, were only officially transferred to the CIO on 31 August 2021. These accounts present the financial activity of the CIO for the year ended 31 December 2023, and the comparative period for the year ended 31 December 2022. Registered office Broadmead Baptist Church I Whippington Court Bristol BSI 3HY Key management personnel Rev M Detzler Mrj Cordle Mrs C Everingham Minister Trainee Minister Women's Worker Trustees Mrj Cordle Rev M Detzler Mr O Holm5trom IResigned 17 July 20231 Mr J Staplehurst ITrea5urerl Mi55 K Rogers Isecretaryl (Resigned 17 July 20231 Mr Ademola (Appointed 17 july 20231 Mr5 C Tang (Appointed 17 July 20231 Principal bankers Metro Bank One Southampton Row London WCIB SHA and HSBC Bank plc 62 George White Street Cabot Circus, Bristol BSI 3BA Independent examiner Mr P E Hodges CPFA Independent Examiner 74 Cottrell Road, Bristol B55 6TN

BROADMEAD BAPTIST CHURCH TRUSTEE ANNUAL REPORT For the yeur ended 31 December2023 The Trustees are pleased to present their report together with the independently examined account5 of Broadmead Baptist Church I the Church I for the year ended 31 December 2023. These accounts have been prepared in accordance with the Charities Statement of Recommended (Charitles SORP 20211 and FRSIO2, The Trustees confirm that the report and accounts of the Church comply wlth the currÈnt statutory requlrements, the requirÈments of the Church's governing document and the Charities SORP 2021. Purpose Broadmead Baptist Church is governed by an Approved Governing Document whl¢h states that the prlnclpal purpose of the Church 15 the advanEement of the Christian faith accordlng to the principles of the Baptist denornination. The Church may a150 advance educatlon and carry out other charltable purposes In the Unlted Klngdom and/or other parts of the world. The church occupies premises which are held by the Broadmead Baptist Chapel Trust on trusts whlch are entirely compatible with the Church's purpose a5 Stated above. Beliefs The Church subscribes to the Baptlst Union of Great Brltaln's Declaratlon of Prlnciple.. 'That our Lord ondsoviourjesus Chris¢ God monifest in thellesh, is thesole tJnd Gb501ute authorityin all motter5 pertuining tofuith Clnd pr￿ct￿ce, us revealedin the Holy5criptures. ond thot euch church hos Ilberty. unrler theguidonce of the Holyspirit, to interpret administerhNs I¢FW5. Thtst Christion Baptism is the immersNon in water into the ni7me of the Father, theSDn Holyspirlt, of those who hoveprolessed repentunce toward5 God andfaith in our LordJe5us Chrlst who 'dledfor ourslns ccording to theScriptures,' was buried, ondrose uguin on the third duy,. Thotit is theduty of every ￿￿(iple to bearpersonal wfftne5S to the gospel of Jesus Chrlst, andto tuke partln the evungelNsm of the world." Organi5ational Structure and decisSon making proce55es Members of the Church are accepted in accordance with the Constitution which afflrrns that baptlsm bv Immerslon upon personal profession of faith in Jesus Christ is the normal mode of entry Into membership of the Church. Church Members, Meeting5 norrnally take place at least four tlmes per year. These meetlngs are an opportunity for Members to Consider and review routine matters associated with the life of the church including issues related to church membership, the appointment of the leaders ITrusteesl, the approval of the budget. as well as providing opportunities for considering proposals for the development of the Church and advancement of Its purpose through its activities.

BROADMEAD BAPTIST CHURCH TRUSTEE ANNUAL REPORT (continued) For the year ended 31 December 2023 Organlsatlonal structure and decision making processes (continued) Church leaders ITrusteesl are responsible for the governance of the Church in accordance with the Constitution and the fulfilment of the purpose through it5 activitie5 Bcting according to the will of God as discerned by the Church Members. Church leaders, meetings normally take place at least six times per year. Objertives and activities In fulfilling its purpose as Stated on page 2, Broadrnead Baptist Church engages in a range of activities for the benefit of its Members and the community generally. The aim is to show the love of Jesus Christ in both word and deed and to bring people into a closer relationship with Him as living Lord. Central to the work and witness of the Church is the provision of regular public services of Christian worship. These gatherings take place each Sunday at 11.-ODam. There are alsc> occasional service5 at othei tirne5, including evening Prayer and Praise gatherings. Crèche facilities are provided during the Church's Sunday morning services. The Church seeks to be a friendly and welcoming community and anybody is free to attend any of these gathering5. The Church run5 a Series of bible study group5 that rneet across the City of Bristol in members, homes. These groups usually meet on a weekday evening to study God's word, to enjoy Christian fellowship and to encourage growth in faith and discipleship to the Lord Jesus Christ. The Church continues to let rooms to commercial and charitable organisations both on a long-term regular and occasional basis. Financial review These accounts present the financial activity of the Church for the year ended 31 December 2023 and the balance sheet of the Church as at that date. The comparative period relates to the year ended 31 December 2022. During the year ended 31 December 2023 the Church received unrestricted income which amounted to £230,45012022.' £168,428). Restricted income in the year ended 31 December 2023 amounted to £11,70312022.. £2,713).

BROADMEAD BAPTIST CHURCH TRUSTEE ANNUAL REPORT lcontlnuedl For the yeor ended 31 December 2023 Financial review Icoa)tinuedl Unrestricted expenditure in the year ended 31 December 2023 arnounted to £284.38312022.. £160,391) ai restricted expellditure amounted to E6,54912022. £2,281). The net movement in lund5 (alter gain5 or losse5 on investments, tr4n5fer5 between lund5 and actuarial gain5 or Ios5e5 On the deflned beneflt pensSon Scheme) for the year ended 31 De￿rnber 2023 amounted to loss of £54,00412022.' £26,752 incomel. As at 31 December 2023 the Church had net assets of £646,63412022.. £700,638), of which £13,43012022.. £6.5931 related to restricted funds and £633,20412022.. £694,045) related to unrestricted funds. Thi5 amount includes £471,35412022.. £543,354) related to the Manse Property designated fund. Details of the Church's restricted and unrestricted funds during the year ended 31 December 2023 are prov5ded In notes 13 and 14 re5pectivelv. Investment polity and performance Careful stewardship Is thÈ drlving princlple reg8rding how the Trustees mana8e finances In general and speclflcally how the reserve funds of Broadmead B3Ptist Church are invested. Detailed below are the Investment stewardship principles that the Trustees have adopted.. Investment5 must be made wlth an approprlate awarene55 01 the need trj protecteapital,. Investment of reserves and other liquid assets must take Into consideration the need for Ilquidity to meet cash flow needs.. and Investments and holdlngs must seek to take 8dv8ntsge of opportunlties for competitlve returns. Reserves policv The Trustees, reserves policy is to seek to maintain minimum general reserves greater than or equal to approximately three months, core operating costs. The Church's budgeted cost5 forthe year endlng 31 Decernber 2024 is £303.287. The Church's unrestrlcted general funds Ht 31 Decernber 2023 lexcluding the Manse Property designated lundl wasE161,850 tneanlng that, at the flnanclal year-end, Its reserves were confirmed to be at a level in exces5 of the Trusteès, mlnlmum reserves requirement. Related party transartions None of the Trustees receive remuneration or other benefit by reason of their position a5 a Trustee. Trustees are required to disclose to the B03rd of Trustee5 all relevant connections and interest5 in the 5Hrr way as any other contractual relationship wlth a related party. During the year no suth related party transactions were reported. The church building relating to Broadrne4d Baptist Church Is held in trust by Broadmead Bapt15t Chapel Trust, charity registr&tion nurnber 255948, whose reglstered offite is I Whipplngton Court, Brlstol BSI 3HY. Broadmead Baptist Church is a rDernber of the Baptlst Union of Great Brltaln (Baptlst Union) and the West of England Baptlst Network Iwèbnetl. Further details are provided in note 17.

BROADMEAD BAPTIST CHURCH TRUSTEE ANNUAL REPORT {contlnuedl For the yeor ended31 December 2023 Risk management The Trustees, risk management strategy comprlse5'. an annual revlew of the principal risks and uncertainties that the Church faces.. the establishment of pollcle5. Systems and procedures to mitigate those identified risks,. and the Implementation of procedures designed to rnlnlmise or manage any potentlal Impact on the Church should those risks materialise. The risk management review has identifled that financial sustainability is the major financial risk for the Church. A key element in the rnanagement of financial risk Is the regu13r review of reserves and the availabllity of liquid funds to settle debts a5 they fall due. The Church currently has an acceptable level of reserves whlch mltigates this risk in the short to rnedlurn term. Trustees, responsibilltle5 Statement The Charities Act 2011 require5 the Trustees to prepare accounts for each financi81 year which give a true and falr vlew of the state of aff3irs of the Charity and of Its Income and expenditure for that period. In preparing the accounts the Trustees consider the Charity has-. selected suitable accountlng poll¢ies and then applied them consistently,. made judgement5 and estlmates that are reasonable and prudent,. stated whether applicable 6ccountlng stand8rds have been followed, subject to any material departures disclosed and explanatlons In the accounts,. and prepared the accounts on a going concern basls. The Trustees are responsible for maintaining.proper 3ccounting records which di5c105e with reasonable accuracy at any time the financial positlon of the Charity and enable it to ensure that the accounts comply with the Charities Act 2011. They are also responslble for safÈguarding the assets of the Charity and hence for taklng reasonable steps to prevent and detect fraud and other IrreEularlties. The names of the Trustee5 who Served durlng the perlod are listed on page l. In accordance with charitv law, as the Charity's Trustees, we certify that.. so fèr as we are aware, there is no relevant accounts Informatlon of whleh the Charlty's exarnlner Is unaware; and as Trustees of the Charlty we have taken all the steps that we ought to have taken in order to make ourselves aware of any relevant audit information and to establish that the Charity'5 examiner is aware of that informatlon. Approved by the Tru5tee5 and slgned on thelr behalf bv.. Rev M Detzler Minister Date:

1. 12..37 BBChurch Stan 001.jpg BROADMEAD BAPTIST CHURCH IIIDEPENDENT EXAMINER'S AEPOATTOTHETRUSTEES OV bROAOMEAD BAPTtSTCHURCH I report io thetru5teÈson myoAamlDHllon of the accountsof Broadmead Baptlst Churihfor Iheyear ended 31 De￿rnber 2023which are setoutOTh￿8ÈS? tfj 2a. ftBsP0Th51bllttles andba$iioli¥port The charftyStIU51ee53rerespon5ibleforthe preparaiknn ofthe4ccaunlsln accordance WiththE requlrementsolthÈ£harlt1è5Art 20111'theAci'l. I reportln ie5pettof myÈxarnlnwllonvf the Charlty's 3CtOuntscarried outundersEttToD 145vf the 2011 Act and In ￿r￿￿nIo￿ttny￿amEn1tbn, I ha¥¢ lollDw4d alltheappllcabk olrecdons1￿en bythe ChJrfty CDmmi5SK￿ ￿r￿erseCtI￿n 14515llbl ofthoArt_ Independeni •XamlTrir'551atem¢nt I havecompleted rny exarnlnatilln. I confirmthat nomatErial matters havecome to my attentiDll In connectSoD wth the exarnxn3tion whlch gives mè tau5e lo belleveiharin, anymaterlal respect.. the attounllng recordswere noikept in acrordancewlth5ECtion 130vftheCharl￿eS Aci or the atttsunt5 did notaccord withthe accountlhE records.'or theaccounts dld not complywith thE applicable re4u1rernentsconcernlngth￿form?Trd COnt￿t of atwunt5SCtourinihe CharEtlÈs IACtOunisand Reportsi RegulatlfjD5 ZOP8 otherlhan 3￿Y re4ulrernentthatthekccoUnt5 8lve4 Irueandfèli'vlEwwhith15 nLTrta mattercOn￿dered as p&rtof an ￿deP￿4￿tE￿￿￿[natI0Tr. I ha¥ertotontern5 and havecomeacross no DtheT rnatters InconnEttlonwith the exarnlnatlTrn to whlth ttontlon should bedrawn In th15reportln order ioenèblebproperunderstandlngof the arcounts ia be reached. Mr PE Hud8esaPFA IndEpepdentExamlner 74Cpttrell Hoad Bristol B55 6TN SIBned.. te: htWs.'Ilmail.google.comlmaillulOl#inboX?prolecto￿1

BROADMEAD BAPTIST CHURCH STATEMENTOF FINANCIALACTIVITIE5 For the year ended31 December2023 Restricted Unrestricted funds funds 2023 2022 Note Income Donations and legacies Investrnent incoffle 11,703 174,527 3.529 186,230 3.529 140,153 7.179 Charitable activities Other trading activitle5 othèr incomè 51,733 661 51,733 661 23,678 131 Totsl income 11,703 230,450 242,153 171,141 Expenditure Expenditure on charltable actlvltles 6,549 284.383 290,932 162,672 Total expenditure 6,549 284,383 290,932 162,672 Net income I lexpendlturel before gain5 1 Ilosse51 on investments 5,154 153,9331 148,7791 8.469 Net gain / Ilossl on investments 9,11 15,2251 15,2251 11171 Net Income / lexpendituyel before transfe 5,154 159,1581 154,(K>41 8.352 Transfers between funds 14,15 1,683 11,6831 other recogni5ed gain5 1 Ilossesl A¢tuarial gains / Ilossesl on defined benefit pension scheme 16 18,400 Net intome / lexpenditurel and net movement sn funds lor the year 6,837 160.8411 154.0041 26,752 Reconciliation of funds Total funds brought forward 13-15 6,593 694,045 700,638 673,885 Total funds carried forward 13-15 13.430 633.204 646.634 700,637 The statement of flnanclal actlvltles Includes all galns and losses recognlsed the year. All income and expenditure relates to continuing activities. The note5 on pages 10 to 23 form part of these accounts.

BROADMEAD BAPT15T CHURCH charity number: 1191289 BALANCE SHEET As ot31 December 2023 31 December 2023 31 December 2022 Note Fixed assets Tangible flxed assets Investments 16,952 166.128 26,681 47,560 183,080 74,241 Current assets Debtors Current asset Investments Cash at bank and in hand io 5.529 414,130 55.547 561,117 12.923 59,227 li 475,206 633.267 Credltors Amounts falling due within one year 12 111,6521 16,8701 Net current a55ets 463.554 626.397 Net assets excluding pension Ilablllty 646,634 700.638 Oeflned benefit pènslon scheme liability 16 Total net a55ets 15 646.634 700,638 Charlty funds Restricted funds Unrestricted funds 15 14 12,430 633.204 6,593 694,045 Yotal Charlty funds 646,634 700,638 The accounts were approved by the Trustees and signed on their behalf by.. Rev M Detzler Minister Date.. iy The notes on pages Ioto 23 form part of these accounts.

BROADMEAD BAPTIST CHURCH CASH FLOW STATEMENT For the yeor ended31 December 2023 31 December 2023 31 December 2022 Cash flow from operating activities Net movement in funds Adjustments for.. Depreciation of tangible fixed a55et5 Dividend income (included in investing activities) Interest lincluded in investing activities) Unrealised fixed asset investment Igainl / loss Actuarial Igainsl I losses on DB pension scheme Decrease / lincreasel in debtors Increase / Idecreasel in creditors 154,0041 26,753 9,729 13,476 1531 6,432 9,728 13871 16,7921 11,5831 118,4001 15,9261 6,270 555,588 4,782 573,002 117,0901 Net cash inflow I loutflowl from operating activities 518,998 9,663 Cash flows from investing artivities Purchase of tangible fixed assets Purchase of investments Proceeds from sale of investments Dividend income Interest received 1125,0001 130,0001 3,476 53 387 6,792 Net cash inflow I loutflowl from investing activities 1121,4711 122,8211 Net change in cash and cash equlvalents 397,527 113,1581 Cash and cash equivalents at the start of the year 72,150 85,308 Cash and cash equivalent5 at the end of the year 469,677 72,150 Analysis of cash and cash equivalents start of the year End of the year Cash flow Current asset investments 12,923 59,227 401,207 13,6801 414,130 55,547 Cash at bank and in h4nd 72,150 397,527 469,677 The notes on paBes 10 to 23 form part of these accounts.

BROADMEAD BAPTIST CHURCH NOTES TO THE ACCOUNTS For the yeor ended 31 December 2023 Accounting policies 1.1 Ba515 of accountlng The accounts have been prepared in accordance with the Charities Statement of Recommended Practice (Charities SORP 20211, the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 and the Charities Act 2011. Broadmead Baptist Church is a registered charity, no. 1191289 and meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unle55 Otherwise stated in the relevant accounting policy notes. These accounts present the financial activity of the Church for the year ended 31 December 2023 and the balance sheet of the Church as at that date. The comparative period relates to the vear ended 31 December 2022. The presentation currency of these accounts is Sterling 1£) and the accounts are rounded to the nearest £. 1.2 Income recognition All incoming resources are included in the Statement of Financial Activities when the Charity is legally entitled to the income after any performance conditions have been met, the amount can be measured reliably and it is probable that the income will be received. 1.3 Donations and legacies Donations are accounted for gross when received. Legacies are accounted for when probate has been completed, the amount of the legacy can be reliably quantified and the conditions of the legacy are within the control of the Church. 1.4 Investment Income Investrnent income is included in the accounts in the year in which it is receivable. 1.5 EJ(penditure recognition All expenditure is accounted for on an accruals basis. Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties. it is probable that settlement will be required and the amount of the obligation can be measured reliablv. 1.6 Costs of raising funds The church does not make formal appeals for funds, and expenditure on these items is therefore not material.

BROADMEAD BAPTIST CHURCH NOTES TO THE ACCOUNTS For the year ended 31 December 2023 Accounting pollcle5 Icontlnued) 1.7 Expenditure on charitable activities Direct charitable expenditure compri5e5 ministry-related and mission-related costs and premises and administrative costs that are incurred in order to support the Church'5 charitable objectives and activities. Governance costs relate directly to the costs of the Church fulfilling its governance responsibilities. Many of the Church's activities, including its management, are carried out without charge bv voILJnteers. Thi5 intangible cost is not included in the Statement of Financial Activities since there is no me&surable c05t to the volunteers for their service. 1.8 Tanglble fixed assets Tangible fixed assets are capitalised If they can be used for more than one year and cost at least £1,000. They are initially recognised at cost. Depreciation is provided on all fixed a55et5 to write off the cost on a straight-line basis over their expected useful life, at the following rates.. Audio Visual and Computer equipment Kitcherh Fittings and equiprnent 5 yeaTS 5 years The Church occupies premises at I Whippington Court, Bristol, which are held by a separate trust, Broadmead Chapel Trust. 1.9 Investments Investments are initially stated at cost. Subsequently they are measured at fair value with changes recogni5ed in the Statement of Financial Activities if the shares are publicly traded or their fair value can otherwise be rneasured reliablv. 1.10 Funds Unrestricted fund5 are available for use at the discretion of the Trustees in furtherance of the general objectives of the ChLJrch and which have not been designated for other purposes. Designated funds comprise unrestricted funds that have been set aside by the Trustees for specific purposes. Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Church for specific purposes.

BROADMEAD BAPTIST CHURCH NOTES TOTHE ACCOUNTS For the year ended 31 December2023 Accounting policle5 Icontinuedl 1.11 Employee benefits ThÈ Church operates a defined contrlbution plan for Its employees. A defined contribution plan is a pension plEn under whl¢h thÈ Church pays fixed contributions into a separate entlty. Once the contributions have been paid the Church has no further payments obligations. The contributions are recognised as an expense when they are due. Amount5 not p6ld are shown in accruals in the bBlance5 sheet. The assets of the plan are held separately from the Church In an independently adtnlnistered fund. Prior to 2012 penslon provision was made through multi-ernployer defined benefit pension plans. WherÈ it is not possible for the Church to obtaln 5uflirlent information to en3ble it to account for a plan as a defined benefit plan, It accounts for the plan as a dèfined contribution plan. Where the plan is in deficit and where the church has agreed, with the plan, to particSpate In a deficit funding arrangement, the Church recognises a liability for its obllgatlon. The amount recognised is the net present value of the contributions payable under the agreement that relate to the deficit, The unwinding of the discount is recogni5ed as a finance cost 3nd any other charges in the measurement of this liability is expensed to the Statement of Fln8ncial Activities. Donations and legacies Restricted Unrestricted funds funds 2023 2022 Donations and gifts 11,703 174,527 186,230 140.153 In the year ended 31 December 2022 Income of £137,440 was attributable to unrestrlcted funds and £2,713 was attrlbutable to restricted funds. Investment income Restricted Unrestricted funds fund5 2023 2022 DividÈnd Income 3,476 53 3,476 53 387 Interest retelved 6,792 3.529 3,529 7,179 In the year ended 31 December 2022 Income of £7,179 was attributable to unrestricted funds.

BROADMEAD BAPTIST CHURCH NOTES TO THE ACCOUNTS For the year ended 31 December2023 other tradin£ attivities Restricted Unrestricted funds funds 2023 2022 Income from prem15es ioorn hlre 51.733 51.733 23,678 In thÈ Veal ended 31 December 2022 income of £23,768 was attrlbutable to unrestricted funds. other income Restricted Unrestricted funds fund5 2023 2022 Other incorne 661 661 131 661 661 131 In the year ended 31 December 2022 income of £131 was attributable to unrestricted funds. Expenditure on charitable activities Restrirted Unrestricted fulld5 funds 2023 2022 Dirert charltable expenditure Governance costs 6.549 282,903 1.480 289,452 1,480 161,892 780 6,549 284,383 290,932 162,672 In the year ended 31 DecèmbÈr 2022 expenditure of £160,391 was attributable to unrestrlcted funds and £2,281 was attributablÈ to restricted funds.

BROADMEAD BAPTIST CHURCH NOTES TOTHE ACCOUNTS For the year ended 31 December 2023 Expenditure on charitable artivities Icontinuedl al Analysis of direct tharitable expenditure Restrirted funds General Designated lund funds 2023 2022 Ministry.. Church staff costs 149,841 149,841 9),235 2,327 1,911 1.799 1.163 326 DB penslon 5chetne cost5 Childrens, minkStry Evangelism tnini5try HOSp￿alItY caterin8 Mens, and Womens, mlnlstry Pastoral care support Pulpit Supply and 5ervlce tosts 596 596 272 272 1.691 691 1,691 691 2.030 113 2,143 1,218 156.452 1.285 650 1,218 154.422 2.030 99,696 MIs510n.' Ollect mlsslonary support BMS Woild Mlsslon support Home Misslon support Training Training Fund5 Other mi55ion Support 1,932 4.396 4,324 4,324 6,328 4,324 4,324 2,587 683 10.642 3,084 3,069 2,587 683 140 4,519 13,727 18,246 16,935 Premises and Administration: Building Refurbi5htnent Bank charge5 Book5 and materia15 COSt5 72,000 105 72,CQO 105 60 1.165 3.481 1.230 9.729 1,962 599 1,165 3,481 1,230 9,729 1,962 599 Cleaning cost5 Contract Se￿i(e5 6,657 1.133 9.728 2.290 896 Depieclatlon Equlptnent purchase5 Flat expen5e5 Mlstellafieous expenditure Muslc and sound costs 980 329 169 169 529 Offlte Supplies OiÉan malnten8nce Printing and pl)otocopy 5ubscription5 and1Scence5 Training costs 1.950 1,95D 151 216 752 752 87 2,(￿5 3,020 13,148 4,126 45,261 2,228 1,070 16,863 471 2,228 1,070 16,863 471 Website & advertising costs 114,754 114,754 6,549 282.903 289,452 161,892

BROADMEAD BAPTIST CHURCH NOTES TO THE ACCOUNTS For the yet7r ended 31 December 2023 ExpendSture on ¢harltable a¢tlvltles lcontlnuedl In the year ended 31 December 2022 dlrect charltable Èxpenditure of £159,611 was attributable to unrestricted funds and £2,281 was attributable to restricted fund5. bl Analysis of governance c05t5 Restricted funds General fund 2023 2022 Independent examSner's fee Professional fees 3(M) 1,180 300 1,180 300 59 1,480 1.480 359 In the year ended 31 December 2022 governance costs of £780 was attributable to unrestricted funds. Net income for the year1$ stated after charglngl Icreditlngl: 2023 2022 Depreclatlon Independent examlner's fee 9,728 9,728 3(XJ Church staff costs and trustee remuneration and expenses Staff costs during the year were as follows.. 2023 2022 109.856 62,751 Soclal 5e¢urlty costs Pension costs 19,939 20.046 9,040 J8,444 Other costs 149,841 90,235 No ernployee re¢eived employee benefits In excess of £60,0(M) p.a, during the year. The Mlnlster and Assoclate Mlnlster are Trustees. They eath recefved remuneration of £29,735 and £29,507 respectively, and other benefits in respect of their services, including the provision of rnan5e accornmodation rented by the Church from each of thern.

BROADMEAD BAPTIST CHURCH NOTES TO THE ACCOUNTS For the yeur ended 31 December2023 Church Staff c05t5 and trustee remuneration and expenses Icontinuedl No Trustee received any remuneration from the Churth for their servi￿$ as a triJ5tee during the year neither were they reimbursed any Tfustee expenses during the year. Total aggregate remuneration paid to key management personnel during the year was £72,283. The average monthly number of employees during the period was as follows.. 2023 2022 No. Pastoral and administrative staff In addition to it5 employees, the Church gratefully received voluntary help from members of Broadmead Baptist Church. Tangible fixed assets Audlo Vlsual Kltchen & Computer equlpm2nt Flttlngs & Bqulprnent Total Cost At l January 2023 41,923 6,723 48,646 At 31 December 2023 41,923 6,723 48,646 Depreciatlon At l January 2023 Charge in the year 20,333 8,384 1,632 1,345 21,965 9,729 At 31 December 2023 28,717 2,977 31,694 Net book value At 31 Decetnber 2023 13,206 3,746 16,952 At 31 December 2022 21,590 5,091 26,681 All of the fixed assets are used for direct charitable purposes.

BROADMEAD BAPTIST CHURCH NOTES TO THE ACCOUNTS For the year ended 310ecember 2023 Fixed A55et Investments 2023 2022 Market value At l January Additions 47,560 125,LKIO 16,4321 15.977 30.000 1,583 Revaluatlon gain / Ilossl At 31 December 166.128 47,560 The Church's fixed asset inve5tThents comprlse listed investment funds that are Marnag￿ by Ruffer It)vestment Company Limited. 10. Debtors 2023 2022 other debtor5 1.150 7.536 13,1571 24 9,676 551,417 GiftAid recelvable Amount receiwable from West of England 8aptistTrust Company Ltd 5,529 561,117 11. Current Asset Investments The market valuatlon of the investments held by the Church relating to the Redcross Street Burial Ground Fund For Broadmead Baptist Chapel and the Monles reteived from the Sale of the Manse Deposit Fund were as follows.. 2023 2022 Market value At l January Addltlons 12,923 4CK),CQO 1207 14,622 Revaluatlon galn I Ilossl 11,6991 At 31 December 414.130 12,923 The Church's current asset Investments are Income units held in a COIF Investment Fund that is managed by CCLA Investment Management Limited.

BROADMEAD BAPTIST CHURCH NOTES TO THE ACCOUNTS For rhe yeorended 31 December2023 12. Credltor5'. Amount5 f&lllng due wsthln onÈ year 2023 2022 Othercreditor5 Accrua15 2,105 9,547 6,870 11,652 6,870 la. Analysls of movements In restrlcted funds Year ended 31 December Z023'. Brought forward Incomlns re50urce5 Resour¢e5 eXpend￿d Tran5fer5 In I loutl Carrled lo￿ard Broadme3d m￿s1on Fund 1,932 J,458 8,674 11,9321 1,458 6,087 4,661 1.571 12,0301 1,683 5,835 Restrlcted funds 6,593 11.703 IS.5491 1.683 13,430 Ypar éDded al DeEember2022'. 8¥ou8ht forward Incomln8 resources Resources Transfers Carrled expended forward Broadmead miss￿￿ Fund 370 2.370 18081 1,932 Mi55ionaiy Care Fund 188 3,988 343 1.615 4.661 Restrictedfund5 4,546 2,713 1,615 6,593 De5¢rlptlon of restrlcted funds Bioadrnead Miss￿)n Fund Th￿ fund ielète5 togift5 and dDnat10Tr5 8iVen in 5upporlof BMSW¢rld ML4sh)n, the Bapiist Union Home Mi55ion Fund and Other[n￿SK)n SUPPDrt. Thksfund IElète5 to￿￿5 and doNiions ihat ale re¢¢lved foi theChu￿b,5 diiectly This lund relatos to gifts and donatlOllS that are received for theChuich'5 diiect mlssbnarles ihAf aF¢ piomoted by theYrustee5. Pastoral Care Fund Thi5funda5515ts wth pa5tDFal nEed5 DI membtls and aitendees ol thechurch.

BROADMEAD BAPTIST CHURCH NOTESTOTHE ACCOUNTS For the ye¢7r ended31 December2023 14. Analysis of movements Irb unre$trl¢ted funds Year ended 31 December 2023-. Brotsght forward In¢omlng r•sou1£¢5 Resources expended Tr3nsfers Galnsl Carried In I loutl forward Deslgnated funds G￿￿￿[￿5 fvnd 543,354 150,691 172,CK)01 1212.3831 471,354 161,850 230.450 11,6831 15,2251 UnT￿tricted fund5 694,045 230,450 1284,3831 11,6831 15,2251 633,204 Designated fund5 COtnpri5ed the followlng.. Brought lorw3rd Itb¢omlnE resources Resouite$ Tran$fers In I lout) Carrled forward expended Manse Property Fund 543,354 172,0001 471.354 D￿lATh8ted funds 543.354 172,MOI 471,354 Year ended 31 Decernber 2022.. Transférr¥d to the CIO Incomln¥ resource5 ResouYce5 Transfers Galns I Carrled forward expended Desl8Thated funds Geneial fund 543,354 125,985 543,354 150,691 168,428 1160,3911 11,6151 18,284 Unre5trjc*ed fund5 669,339 168,428 160,3911 11,6151 18,284 694.045 Designated fund5 tomprlsed the following.. Transferred to the CIO l#¢omlng resources Re$our¢es Transfers In I lout) Carrl forward expended Manse Properly Fund 543,354 543.354 Designated funds 543,354 543,354

BROADMEAD BAPTIST CHURCH NOTES TO THEACCOUNTS For the yeor ended 31 December 2023 14. Analys15 of movements In unrestrlcted funds Icontlnuedl Descrlptlon of deslEnated funds Manse Property Fund Thls fund relates to the proceeds the Church recelvÈd from thesale of Its manse property, which are desigaated to bè Used for the purchase of an alternative rnan5e property in due course. 15. Analysls ol nel assets between funds Restrictsd Unr05trtcted lunds funds 2023 2022 FSxed Asset5 16,952 166,128 5,529 414,130 42,117 111.6521 16.952 166,128 5.529 414,130 55,547 111.6521 26,681 47,560 561,117 12,923 52,634 16,8701 Investment5 Debtors Current a55et Investments Cash at bank and In hand Credltors due within one year Defined beneflt pension scheme liablllty 13,430 13.430 633,204 646,634 694,045 16. Penslons Baptlst Penslon Scheme The Church 15 a participating employer In the Baptist Pension Scheme I the BPS"), whlch is a separate legal entity adminlstered by the Penslon Trustee (Baptist Pension Trust Lirnltedl. The assets of the BPS are held separately from those of the Employer and the other partlcip4ting etnployers. The BPS. prevlously known 35 the Baptist Minister5, Penslon Fund, started in 1925, but was closed to future 4ccrval of deflned benefits on 31 December 2011. Prior to thls date the main benefit provided through th@ Deflned Benefit IOBI Plan was a pension of one elghtièth of final minimum pensionable incorne for Each year of pensionable service together wlth addltlonal pension in respect of premium5 pald on Pensionable Income in excess of Minimurn Pen51onable Income. From January 2012. penslon piovlsion is belng made through the Defined Contrfbutlon (DCI Plan wlthin the 8PS. In general, member5 pay 8% of thelr Pensionable Income and ernployers pay 6% of members. Pensionable Income Into indlvldual pension accounts, which are operated and managed on behalf of the Pension Trustee by Broadstone Corporate Benefit5 Ltd. In additlon, the employer pays a further 4% of Pensionable Income to cover Death in Service Benefits, adtnlnlstr8tion costs, and an associated insurance policy whlch provides income protection lor BPS members if they are unable to work due to lons-terrp Incapacity.

BROADMEAD BAPTIST CHURCH NOTES TO THE ACCOUNTS For the year ended 31 December2023 16. Pension5 Icontinuedl This incorne protection policy has been insured by the Bapt15t Union of Great Britain with Aviva Limited. Members of the 8asic Section pay reduced contributions of 5% of Pensionable Income, and their employers also pay a total of 5%. The BPS is considered to be a multi-employer scheme as described in Section 28 of FR5102. Because it is not possible to attribute the BPS'S assets and liabilities to specific employers, the scheme is accounted for as if the BPS were a defined contribution scheme, The Minister and some members of church staff are eligible to join the BPS. Actuarial valut7tion t75 ut 31 December2019 A forrnal valuation of the DB Plan as at 31 December 2019 was carlled out by a professionally qualified Actuary using the Projected Unit Method. At the valuation date the market value of the DB Plan assets was £298m, whilst the level of assets needed to pay benefits was £316m, giving a deficit of £18m (equivalent to a past service funding level of 94°Al. The Church and other participating employers in the DB Plan are collectively re5pon5ible for funding this deficit. The key financial assumptions underlying the valuation were as follows.. Type ofossumptlon RPI price inflatlon assumption CPI price inflation a55UmPtlon Minimum Pensionable Income Increase Adjustment (above CPI) Pre-retlrement assumed investment returns18ilt yield plus 1.75% pal Pre-retirement assumed investment returns lincluding benefits matched by the insurance policy) (gilt yield plu5 0.5% pal %p.o. 3.20 2.70 o.so 2.95 1.70 Minimum Pensionable Income Increases ICPI plus O.5%1 Deferred pension increase5 Ibased on RPII Pre Aprll 2009 P05t Aprll 2009 Pension incre4ses Based on CPI with an annual floor of 0% and annual cap of 5% 3.20 3.20 2.50 2.70 Mortality is assumed in accordance with 80% of the S3NA standard mortality table. Future improvements projected from 2013 in line with the"CMI 2019" projection with a long-term rate of improvement of 1.75% p.a. for male5 and 1.5% p.a. for females with the core smoothing parameter and with additional initial mortality improvement factor A-0.5%. The next actuarial valuation of the DB Plan within the BPS will commence in 2023 to reflect the position as at 31 December 2022.

BROADMEAD BAPTIST CHURCH NOTESTOTHE ACCOUNTS For the yeor ended31 December2023 16. Penslons Icontlnuedl RecoveryPlon In addition to the contrlbutlons to the DC Plan set out èbove, where a valuation of the OB Plan reveals a deflclt the Trustee 8nd Council agree to a rate of deliaency contributions from churches and other Èmployers Involved in the DB Plan. Following the 20J9 valuation a Recovery Plan was slgned In September 2020 under which deficiency contributions are payable untll June 2026. These contributions were broadly based on the employer'5 rnember5hlp at 31 December 2014 and increase annually in line with Incre4se5 to Mlnimum PÈnslonèble Intome as defined in the Rule5. On 30 June 2022 the Baptlst Penslon Scheme signed an 8greement with the insurance cofflpany Just Group 'Just I to secure DB Plan members, pension benefits, Just are now providing flnantl81 backing for all pensions provided through the BPS'S DB Plan Hnd followlng thls transactlon, thè BPS no longer has a shortfall. An updated Recovery Plan wa5 then slgnÈd In August 2022 under which recovery contribution5 frorn each partlclpatlng employer In the DB Plan reduced to £1 per month from August 2022. Movement In Bolunce Sheet liobilitv Sectlon 28.IIA of FRS102 requires agreed deficit recovery payment5 to be recognlsed as a Ilablllty. The movement in the provision is Set out the table below.. 2023 2022 Balance sheet liability at start of peiiod Minus deficiency contrlbuiions pald Interest cost Irecognised in the Staternent of Flnanclal Acrivltlesl Remaining changeto balante sheet Ilablllty Irecogni5ed in the statement of 18,4tK) 12.3271 345 116,4181 Balancesheet Ilablllly at end of period Comprises any chan8e in agrEÈd defSclt recovery plan and change in a5sumptioDs between year-end5. Thls liability represents the present value of the deflclt contrlbutlons agre&d as at the accounting date and has been valued uslng the follDwlng assumptions set by reference to the duration of the deflclt recovery payments.. 31 December 2023 31 Detembèr 2022 Discount rate 5.7% 2.0% 4.1% Future increases to Minitnutn Penslonable Income Defined penslon contrlbutlons The Church makes defined pension contrlbutlons on behalf of ellglble employees. The assets of the scheme are administered by an Independent pensions provider. Pension payments. recognised as charltable pxpendlture wlthln Churth staff costs during the period, amounted to £9,040.

BROADMEAD BAPTIST CHURCH NOTES TO THE ACCOUNTS For the year ended31 December 2023 17. Related charities Broadmead Baptist Church 15 a member of the Baptist Union of Great Britain (Baptist Union) and the West of England Baptist Network Iwebnetl. During the period the Church made payments to West of England Baptist Payroll Cornpany Limited la subsidiary of webnetl in relation to its Church staff costs as summarised in Note 8 to these account5. During the period the Church also made donations to the Baptist Union Home Mission fund and to the BMS World Mission fund, which are managed by webnet on behalf of the Baptist Union of Great Britain. The Church occupies premises at I Whippington Court, Bristol, which are held by a separate trust, Broadmead Chapel Trust. In the prior financial period, as recorded in Note 10, the proceeds from the sale of the Church's manse property were held by West of England Baptist Trust Company Ltd, a charity which operates as custodian trustees of property and investments owned by individual Bapt15t churches that are members of the Baptist Union Of Great Britain (Baptist Union). In the the year to 31 Decernber 2023 the ftjnds were received from the West of England Baptist Trust Company Ltd and are no held In the COIF Deposit Account.