Broadmead Baptist Church (A Charitable Incorporated Organisation, Charity Number: 1191289)
Trustees' Report and Annual Accounts
For the year ended 31 December 2024
BROADMEAD BAPTIST CHURCH
CONTENTS
| Page | |
|---|---|
| Reference and Administrative Information | 1 |
| Trustee Annual Report | 2 - 5 |
| Independent Examiner's Report | 6 |
| Statement of Financial Activities | 7 |
| Balance Sheet | 8 |
| Cash Flow Statement | 9 |
| Notes to the Accounts | 10 - 22 |
BROADMEAD BAPTIST CHURCH
REFERENCE AND ADMINISTRATIVE INFORMATION
For the year ended 31 December 2024
Charity status On 15 September 2020 Broadmead Baptist Church registered as a Charitable Incorporated Organisation ("CIO") charity number 1191289. The assets and liabilities of Broadmead Baptist 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 2024, and the comparative period for the year ended 31 December 2023. Registered office Broadmead Baptist Church 1 Whippington Court Bristol BS1 3HY Key management personnel Rev M Detzler Senior Minister Mr J Cordle Associate Minister Mrs C Everingham Women's Worker Trustees Mr J Cordle Rev M Detzler Mr O Holmstrom (Resigned September 2024) Mr J Staplehurst (Treasurer) Mr Ademola Mrs Olive Tang Mrs Ellie Vinter (Appointed September 2024) Principal bankers Metro Bank One Southampton Row London WC1B 5HA Independent examiner Ed Marsh BSc (Hons) FCA DChA Independent Examiner 5 Farleigh Court, Old Weston Road Flax Bourton, Bristol BS48 1UR
1
BROADMEAD BAPTIST CHURCH
TRUSTEE ANNUAL REPORT For the year ended 31 December 2024
The Trustees are pleased to present their report together with the independently examined accounts of Broadmead Baptist Church ("the Church") for the year ended 31 December 2024. These accounts have been prepared in accordance with the Charities Statement of Recommended (Charities SORP 2019) and FRS102.
The Trustees confirm that the report and accounts of the Church comply with the current statutory requirements, the requirements of the Church's governing document and the Charities SORP 2019.
Purpose
Broadmead Baptist Church is governed by an Approved Governing Document which states that the principal purpose of the Church is the advancement of the Christian faith according to the principles of the Baptist denomination. The Church may also advance education and carry out other charitable purposes in the United Kingdom and/or other parts of the world.
The Church occupies premises which are held by the Broadmead Baptist Chapel Trust on trusts which are entirely compatible with the Church's purpose as stated above.
Beliefs
The Church subscribes to the Baptist Union of Great Britain's Declaration of Principle:
"That our Lord and Saviour Jesus Christ, God manifest in the flesh, is the sole and absolute authority in all matters pertaining to faith and practice, as revealed in the Holy Scriptures, and that each church has liberty, under the guidance of the Holy Spirit, to interpret and administer his laws.
That Christian Baptism is the immersion in water into the name of the Father, the Son and Holy Spirit, of those who have professed repentance towards God and faith in our Lord Jesus Christ who 'died for our sins according to the Scriptures; was buried, and rose again on the third day'.
That it is the duty of every disciple to bear personal witness to the gospel of Jesus Christ, and to take part in the evangelism of the world."
Organisational structure and decision making processes
Members of the Church are accepted in accordance with the Constitution which affirms that baptism by immersion upon personal profession of faith in Jesus Christ is the normal mode of entry into membership of the Church.
Church Members' Meetings normally take place at least four times per year. These meetings 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 (Trustees), 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.
2
BROADMEAD BAPTIST CHURCH
TRUSTEE ANNUAL REPORT (continued) For the year ended 31 December 2024
Organisational structure and decision making processes (continued)
Church leaders (Trustees) are responsible for the governance of the Church in accordance with the Constitution and the fulfilment of the purpose through its activities acting according to the will of God as discerned by the Church Members. Church leaders' meetings normally take place at least six times per year.
Objectives and activities
In fulfilling its purpose as stated on page 2, Broadmead 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 11:00am. There are also occasional services at other times, 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 gatherings.
The Church runs a series of bible study groups that meet 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.
Public benefit
In shaping the objectives for the year and planning activities, the trustees have considered the Charity Commission's guidance on public benefit, including the guidance 'public benefit: running a charity (PB2)'.
Financial review
These accounts present the financial activity of the Church for the year ended 31 December 2024 and the balance sheet of the Church as at that date. The comparative period relates to the year ended 31 December 2023.
During the year ended 31 December 2024 the Church received unrestricted income which amounted to £276,397 (2023: £230,450).
Restricted income in the year ended 31 December 2024 amounted to £22,618 (2023: £11,703).
3
BROADMEAD BAPTIST CHURCH
TRUSTEE ANNUAL REPORT (continued) For the year ended 31 December 2024
Financial review (continued)
Unrestricted expenditure in the year ended 31 December 2024 amounted to £400,141 (2023: £284,383) and restricted expenditure amounted to £26,441 (2023: £6,549). The net movement in funds (after gains or losses on investments, transfers between funds and actuarial gains or losses on the defined benefit pension scheme) for the year ended 31 December 2024 amounted to loss of £130,404 (2023: £54,004 loss).
As at 31 December 2024 the Church had net assets of £516,230 (2023: £646,634), of which £12,373 (2023: £13,430) related to restricted funds and £503,857 (2023: £633,204) related to unrestricted funds. This amount includes £327,354 (2023: £471,354) related to the Manse Property designated fund. Details of the Church's restricted and unrestricted funds during the year ended 31 December 2024 are provided in notes 13 and 14 respectively.
Investment policy and performance
Careful stewardship is the driving principle regarding how the Trustees manage finances in general and specifically how the reserve funds of Broadmead Baptist Church are invested. Detailed below are the investment stewardship principles that the Trustees have adopted:
-
Investments must be made with an appropriate awareness of the need to protect capital;
-
Investment of reserves and other liquid assets must take into consideration the need for liquidity to meet cash flow needs; and
-
Investments and holdings must seek to take advantage of opportunities for competitive returns.
Reserves policy
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 costs for the year ending 31 December 2025 is £303,287. The Church's unrestricted general funds at 31 December 2024 (excluding the Manse Property designated fund) was £176,503 meaning that, at the financial year-end, its reserves were confirmed to be at a level in excess of the Trustees' minimum reserves requirement.
Related party transactions
None of the Trustees receive remuneration or other benefit by reason of their position as a Trustee. Trustees are required to disclose to the Board of Trustees all relevant connections and interests in the same way as any other contractual relationship with a related party. During the year no such related party transactions were reported.
The church building relating to Broadmead Baptist Church is held in trust by Broadmead Baptist Chapel Trust, charity registration number 255948, whose registered office is 1 Whippington Court, Bristol BS1 3HY. Broadmead Baptist Church is a member of the Baptist Union of Great Britain (Baptist Union) and the West of England Baptist Network (webnet).
During the year to 31 December 2024 the church donated £144,000 to the Broadmead Baptist Chapel Trust to fund renovation and development of the Church building. Further details are provided in note 17.
4
BROADMEAD BAPTIST CHURCH
TRUSTEE ANNUAL REPORT (continued) For the year ended 31 December 2024
Risk management
The Trustees' risk management strategy comprises:
-
an annual review of the principal risks and uncertainties that the Church faces;
-
the establishment of policies, systems and procedures to mitigate those identified risks; and
-
the implementation of procedures designed to minimise or manage any potential impact on the Church should those risks materialise.
The risk management review has identified that financial sustainability is the major financial risk for the Church. A key element in the management of financial risk is the regular review of reserves and the availability of liquid funds to settle debts as they fall due. The Church currently has an acceptable level of reserves which mitigates this risk in the short to medium term.
Trustees' responsibilities statement
The Charities Act 2011 requires the Trustees to prepare accounts for each financial year which give a true and fair view of the state of affairs of the Charity and of its income and expenditure for that period. In preparing the accounts the Trustees consider the Charity has:
-
selected suitable accounting policies and then applied them consistently;
-
made judgements and estimates that are reasonable and prudent;
-
stated whether applicable accounting standards have been followed, subject to any material departures disclosed and explanations in the accounts; and
-
prepared the accounts on a going concern basis.
The Trustees are responsible for maintaining proper accounting records which disclose with reasonable accuracy at any time the financial position of the Charity and enable it to ensure that the accounts comply with the Charities Act 2011. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps to prevent and detect fraud and other irregularities.
The names of the Trustees who served during the period are listed on page 1. In accordance with charity law, as the Charity's Trustees, we certify that:
-
so far as we are aware, there is no relevant accounts information of which the Charity's examiner is unaware; and
-
as Trustees of the Charity 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's examiner is aware of that information.
Approved by the Trustees and signed on their behalf by:
Rev M Detzler Minister 30th October 2025
Date:
5
BROADMEAD BAPTIST CHURCH
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF BROADMEAD BAPTIST CHURCH
I report to the trustees on my examination of the accounts of Broadmead Baptist Church for the year ended 31 December 2024 which are set out on pages 7 to 23.
Responsibilities and basis of report
The charity's trustees are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ("the Act").
I report in respect of my examination of the Charity's accounts 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, 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 which gives me cause to believe that in, any material respect:
-
the accounting records were not kept in accordance with section 130 of the Charities Act; or
-
the accounts did not accord with the accounting records; or
-
the accounts did 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.
Ed Marsh BSc (Hons) FCA DChA Signed: Independent Examiner 5 Farleigh Court, Old Weston Road Flax Bourton, Bristol Date: 30th October 2025 BS48 1UR
6
BROADMEAD BAPTIST CHURCH
STATEMENT OF FINANCIAL ACTIVITIES
For the year ended 31 December 2024
----- Start of picture text -----
Restricted Unrestricted
funds funds 2024 2023
Note £ £ £ £
Income
Donations and legacies 2 22,618 213,057 235,675 186,230
Investment income 3 - 16,440 16,440 3,529
Charitable activities
Other trading activities 4 - 46,900 46,900 51,733
Other income 5 - - - 661
Total income 22,618 276,397 299,015 242,153
Expenditure
Expenditure on charitable activities 6 26,441 400,141 426,582 290,932
Total expenditure 26,441 400,141 426,582 290,932
Net income / (expenditure) before
gains / (losses) on investments (3,823) (123,744) (127,567) (48,779)
Net gain / (loss) on investments 9,11 - (2,837) (2,837) (5,225)
Net income / (expenditure) before transfers (3,823) (126,581) (130,404) (54,004)
Transfers between funds 14,15 2,766 (2,766) - -
Net income / (expenditure) and net
movement in funds for the year (1,057) (129,347) (130,404) (54,004)
Reconciliation of funds
Total funds brought forward 13-15 13,430 633,204 646,634 700,638
Total funds carried forward 13-15 12,373 503,857 516,230 646,634
----- End of picture text -----
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure relates to continuing activities.
The notes on pages 10 to 22 form part of these accounts.
7
BROADMEAD BAPTIST CHURCH
Charity number: 1191289
BALANCE SHEET
As at 31 December 2024
| Note Fixed assets Tangible fixed assets 8 Investments 9 Current assets Debtors 10 Current asset investments 11 Cash at bank and in hand Creditors Amounts falling due within one year 12 Net current assets Total net assets 15 Charity funds Restricted funds 13 Unrestricted funds 14 Total Charity funds |
31 December 2024 £ £ 10,270 162,972 173,242 18,590 294,449 54,174 367,213 (24,225) 342,988 516,230 516,230 12,373 503,857 516,230 |
31 December 2023 £ £ 16,952 166,128 183,080 5,529 414,130 55,547 475,206 (11,652) 463,554 646,634 646,634 13,430 633,204 646,634 |
|---|---|---|
The accounts were approved by the Trustees and signed on their behalf by:
Rev M Detzler Minister 30th October 2025 Date:
The notes on pages 10 to 22 form part of these accounts.
8
BROADMEAD BAPTIST CHURCH
CASH FLOW STATEMENT
For the year ended 31 December 2024
----- Start of picture text -----
31 December 2024 31 December 2023
£ £ £ £
Cash flow from operating activities
Net movement in funds (130,404) (54,004)
Adjustments for:
Depreciation of tangible fixed assets 10,132 9,729
Dividend income (included in investing activities) (13,933) (3,476)
Interest (included in investing activities) (2,507) (53)
Unrealised fixed asset investment (gain) / loss 3,156 6,432
Decrease / (increase) in debtors (13,061) 555,588
Increase / (decrease) in creditors 12,573 4,782
(3,640) 573,002
Net cash inflow / (outflow) from operating activities (134,044) 518,998
Cash flows from investing activities
-
Purchase of tangible fixed assets (3,450)
Purchase of investments - (125,000)
Proceeds from sale of investments - -
Dividend income 13,933 3,476
Interest received 2,507 53
Net cash inflow / (outflow) from investing activities 12,990 (121,471)
Net change in cash and cash equivalents (121,054) 397,527
Cash and cash equivalents at the start of the year 469,677 72,150
Cash and cash equivalents at the end of the year 348,623 469,677
Analysis of cash and cash equivalents
Start of End of
the year Cash flow the year
£ £ £
Current asset investments 414,130 (119,681) 294,449
Cash at bank and in hand 55,547 (1,373) 54,174
469,677 (121,054) 348,623
Analysis of cash and cash equivalents - prior year
Start of End of
the year Cash flow the year
£ £ £
Current asset investments 12,923 401,207 414,130
Cash at bank and in hand 59,227 (3,680) 55,547
72,150 397,527 469,677
----- End of picture text -----
The notes on pages 10 to 22 form part of these accounts.
9
BROADMEAD BAPTIST CHURCH
NOTES TO THE ACCOUNTS For the year ended 31 December 2024
1. Accounting policies
1.1 Basis of accounting
The financial statements have been prepared in accordance with the historical cost convention (except where otherwise stated in the accounting policy note) and in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued in October 2019, and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), and the Charities Act 2011.
The accounts (financial statements) have been prepared to give a ‘true and fair’ view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a ‘true and fair view’. This departure has involved following Accounting and Reporting by Charities: 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) issued in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.
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 unless otherwise stated in the relevant accounting policy notes.
These accounts present the financial activity of the Church for the year ended 31 December 2024 and the balance sheet of the Church as at that date. The comparative period relates to the year ended 31 December 2023.
The presentation currency of these accounts is Sterling (£) 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 Investment income is included in the accounts in the year in which it is receivable.
1.5 Expenditure 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 reliably.
1.6 Costs of raising funds
The church does not make formal appeals for funds, and expenditure on these items is therefore not material.
10
BROADMEAD BAPTIST CHURCH
NOTES TO THE ACCOUNTS For the year ended 31 December 2024
1. Accounting policies (continued)
1.7 Expenditure on charitable activities
Direct charitable expenditure comprises ministry-related and mission-related costs and premises and administrative costs that are incurred in order to support the Church's 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 by volunteers. This intangible cost is not included in the Statement of Financial Activities since there is no measurable cost to the volunteers for their service.
1.8 Tangible 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 assets to write off the cost on a straight-line basis over their expected useful life, at the following rates:
| Audio Visual and Computer equipment | - | 5 years |
|---|---|---|
| Kitchen Fittings and equipment | - | 5 years |
The Church occupies premises at 1 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 recognised in the Statement of Financial Activities if the shares are publicly traded or their fair value can otherwise be measured reliably.
1.10 Funds
Unrestricted funds are available for use at the discretion of the Trustees in furtherance of the general objectives of the Church 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.
11
BROADMEAD BAPTIST CHURCH
NOTES TO THE ACCOUNTS For the year ended 31 December 2024
1. Accounting policies (continued)
1.11 Employee benefits
The Church operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Church pays fixed contributions into a separate entity. Once the contributions have been paid the Church has no further payments obligations. The contributions are recognised as an expense when they are due. Amounts not paid are shown in accruals in the balances sheet. The assets of the plan are held separately from the Church in an independently administered fund.
Prior to 2012 pension provision was made through multi-employer defined benefit pension plans. Where it is not possible for the Church to obtain sufficient information to enable it to account for a plan as a defined benefit plan, it accounts for the plan as a defined contribution plan.
Where the plan is in deficit and where the church has agreed, with the plan, to participate in a deficit funding arrangement, the Church recognises a liability for its obligation. 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 recognised as a finance cost and any other charges in the measurement of this liability is expensed to the Statement of Financial Activities.
2. Donations and legacies
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||||||
|---|---|---|---|---|
|Restricted|Unrestricted|
|funds|funds|2024|2023|
|£|£|£|£|
|Donations and gifts|22,618|213,057|235,675|186,230|
----- End of picture text -----
In the year ended 31 December 2023 income of £174,527 was attributable to unrestricted funds and £11,703 was attributable to restricted funds.
3. Investment income
----- Start of picture text -----
||||||
|---|---|---|---|---|
|Restricted|Unrestricted|
|funds|funds|2024|2023|
|£|£|£|£|
|Dividend income|-|13,933|13,933|3,476|
|Interest received|-|2,507|2,507|53|
|-|16,440|16,440|3,529|
----- End of picture text -----
In the year ended 31 December 2023 income of £3,529 was attributable to unrestricted funds.
12
BROADMEAD BAPTIST CHURCH
NOTES TO THE ACCOUNTS For the year ended 31 December 2024
4. Other trading activities
----- Start of picture text -----
||||||
|---|---|---|---|---|
|Restricted|Unrestricted|
|funds|funds|2024|2023|
|£|£|£|£|
|Income from premises room hire|-|46,900|46,900|51,733|
----- End of picture text -----
In the year ended 31 December 2023 income of £51,733 was attributable to unrestricted funds.
5. Other income
----- Start of picture text -----
||||||
|---|---|---|---|---|
|Restricted|Unrestricted|
|funds|funds|2024|2023|
|£|£|£|£|
|Other income|-|-|-|661|
|-|-|-|661|
----- End of picture text -----
In the year ended 31 December 2023 income of £661 was attributable to unrestricted funds.
6. Expenditure on charitable activities
----- Start of picture text -----
||||||
|---|---|---|---|---|
|Restricted|Unrestricted|
|funds|funds|2024|2023|
|£|£|£|£|
|Direct charitable expenditure|26,441|399,291|425,732|289,452|
|Governance costs|-|850|850|1,480|
|26,441|400,141|426,582|290,932|
----- End of picture text -----
In the year ended 31 December 2023 expenditure of £284,383 was attributable to unrestricted funds and £6,549 was attributable to restricted funds.
13
BROADMEAD BAPTIST CHURCH
NOTES TO THE ACCOUNTS For the year ended 31 December 2024
6. Expenditure on charitable activities (continued)
a) Analysis of direct charitable expenditure
| Ministry: Church staff costs DB pension scheme costs Childrens' ministry Evangelism ministry Hospitality and catering Mens' and Womens' ministry Pastoral care support Pulpit supply and service costs Mission: Direct missionary support BMS World Mission support Home Mission support Mission Training Funds Other mission support Premises and Administration: Donation to Broadmead Chapel Trust Bank charges Books and materials costs Cleaning costs Contract services Depreciation Equipment purchases Flat expenses Miscellaneous expenditure Music and sound costs Office supplies Printing and photocopy Subscriptions and licences Training costs Utilities costs Website & advertising costs |
Restricted funds £ - - - - - - 6,250 - 6,250 - - - 20,191 - 20,191 - - - - - - - - - - - - - - - - - 26,441 |
General fund £ 185,504 - 4,914 212 1,078 1,204 - 1,499 194,411 - 6,914 6,914 2,430 16,258 144,000 73 630 983 1,683 10,132 5,469 - 2,866 945 1,663 1,286 2,139 4,803 11,713 237 188,622 399,291 |
Designated funds £ - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - |
2024 £ 185,504 - 4,914 212 1,078 1,204 6,250 1,499 200,661 - 6,914 6,914 20,191 2,430 36,449 144,000 73 630 983 1,683 10,132 5,469 - 2,866 945 1,663 1,286 2,139 4,803 11,713 237 188,622 425,732 |
2023 £ 149,841 - 596 272 1,691 691 2,143 1,218 156,452 6,328 4,324 4,324 2,587 683 18,246 72,000 105 1,165 3,481 1,230 9,729 1,962 599 980 169 1,950 752 2,228 1,070 16,863 471 114,754 289,452 |
|---|---|---|---|---|---|
14
BROADMEAD BAPTIST CHURCH
NOTES TO THE ACCOUNTS For the year ended 31 December 2024
6. Expenditure on charitable activities (continued)
In the year ended 31 December 2023 direct charitable expenditure of £282,903 was attributable to unrestricted funds and £6,549 was attributable to restricted funds.
b) Analysis of governance costs
| Independent examiner's fee Professional fees |
Restricted funds £ - - - |
General fund £ 850 - 850 |
2024 £ 850 - 850 |
2023 £ 300 1,180 1,480 |
|---|---|---|---|---|
In the year ended 31 December 2023 governance costs of £1,480 was attributable to unrestricted funds.
Net income for the year is stated after charging/ (crediting):
| Depreciation Independent examiner's fee |
2024 £ 10,132 850 |
2023 £ 9,729 300 |
|---|---|---|
7. Church staff costs and trustee remuneration and expenses
Staff costs during the year were as follows:
| Salaries Social security costs Pension costs Other costs |
2024 £ 136,503 - 28,442 20,559 185,504 |
2023 £ 109,856 - 19,939 20,046 149,841 |
|---|---|---|
No employee received employee benefits in excess of £60,000 p.a. during the year.
The Minister and Associate Minister are Trustees. They each received remuneration and other benefits in respects of their services of £35,889 (2023: £29,735) and £39,289 (2023: £29,707) respectively, including the provision of a housing allowance to both of them.
15
BROADMEAD BAPTIST CHURCH
NOTES TO THE ACCOUNTS For the year ended 31 December 2024
7. Church staff costs and trustee remuneration and expenses (continued)
No Trustee received any remuneration from the Church for their services as a trustee during the year neither were they reimbursed any Trustee expenses during the year.
Total aggregate remuneration paid to key management personnel during the year was £88,257 (2023: £72,283).
The average monthly number of employees during the period was as follows:
----- Start of picture text -----
||||
|---|---|---|
|2024|2023|
|No.|No.|
|Pastoral and administrative staff|7|7|
----- End of picture text -----
In addition to its employees, the Church gratefully received voluntary help from members of Broadmead Baptist Church.
8. Tangible fixed assets
----- Start of picture text -----
|||||
|---|---|---|---|
|Audio Visual|Kitchen|
|& Computer|Fittings &|
|equipment|equipment|Total|
|£|£|£|
|Cost|
|At 1 January 2024|41,923|6,723|48,646|
|Additions|3,450|-|3,450|
|At 31 December 2024|45,373|6,723|52,096|
|Depreciation|
|At 1 January 2024|28,717|2,977|31,694|
|Charge in the year|8,787|1,345|10,132|
|At 31 December 2024|37,504|4,322|41,826|
|Net book value|
|At 31 December 2024|7,869|2,401|10,270|
|At 31 December 2023|13,206|3,746|16,952|
----- End of picture text -----
All of the fixed assets are used for direct charitable purposes.
16
BROADMEAD BAPTIST CHURCH
NOTES TO THE ACCOUNTS
For the year ended 31 December 2024
9. Fixed Asset Investments
| Market value At 1 January Additions Revaluation gain / (loss) At 31 December |
2024 £ 166,128 - (3,156) 162,972 |
2023 £ 47,560 125,000 (6,432) 166,128 |
|---|---|---|
The Church's fixed asset investments comprise listed investment funds that are managed by Ruffer Investment Company Limited.
10. Debtors
| Other debtors Gift Aid receivable Amount receivable from West of England Baptist Trust Company Ltd |
2024 £ - 21,747 (3,157) 18,590 |
2023 £ 1,150 7,536 (3,157) 5,529 |
|---|---|---|
11. Current Asset Investments
The market valuation of the investments held by the Church relating to the Redcross Street Burial Ground Fund For Broadmead Baptist Chapel and the Monies received from the Sale of the Manse Deposit Fund were as follows:
| Market value At 1 January Additions Withdrawals Revaluation gain / (loss) At 31 December |
2024 £ 414,130 - (120,000) 319 294,449 |
2023 £ 12,923 400,000 - 1,207 414,130 |
|---|---|---|
The Church's current asset investments are income units held in a COIF Investment Fund that is managed by CCLA Investment Management Limited.
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BROADMEAD BAPTIST CHURCH
NOTES TO THE ACCOUNTS
For the year ended 31 December 2024
12. Creditors: Amounts falling due within one year
| Other creditors Accruals Analysis of movements in restricted funds Year ended 31 December 2024: Brought forward £ 1,458 6,087 - 5,885 13,430 Broadmead Mission Fund Ministry Training Funds Missionary Care Fund Pastoral Care Fund Restricted funds |
Incoming resources £ 1,480 14,510 - 6,628 22,618 |
Resources expended £ - (20,191) - (6,250) (26,441) |
2024 £ - 24,225 24,225 Transfers in / (out) £ - - - 2,766 2,766 |
2023 £ 2,105 9,547 11,652 Carried forward £ 2,938 406 - 9,029 12,373 |
|---|---|---|---|---|
13. Analysis of movements in restricted funds
Year ended 31 December 2023:
| Broadmead Mission Fund Minstry Training Funds Missionary Care Fund Pastoral Care Fund Restricted funds |
Brought forward £ 1,932 - - 4,661 6,593 |
Incoming resources £ 1,458 8,674 - 1,571 11,703 |
Resources expended £ (1,932) (2,587) - (2,030) (6,549) |
Transfers in / (out) £ - - - 1,683 1,683 |
Carried forward £ 1,458 6,087 - 5,885 13,430 |
|---|---|---|---|---|---|
Description of restricted funds
Broadmead Mission Fund
- This fund relates to gifts and donations given in support of BMS World Mission, the Baptist Union Home Mission Fund and Other mission support.
Missionary Training Fund
- This fund relates to gifts and donations that are received for the Church's directly supported church members who are undertaking training & discipleship work either in the UK or abroad in order to develop their ministry area as they see called.
Missionary Care Fund
This fund relates to gifts and donations that are received for the Church's directly supported missionaries, including any specific financial appeals on behalf of its missionaries that are promoted by the Trustees.
- Pastoral Care Fund - This fund assists with pastoral needs of members and attendees of the Church.
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BROADMEAD BAPTIST CHURCH
NOTES TO THE ACCOUNTS
For the year ended 31 December 2024
14. Analysis of movements in unrestricted funds
Year ended 31 December 2024:
| Brought Incoming forward resources £ £ Designated funds 471,354 - General fund 161,850 276,397 633,204 276,397 Designated funds comprised the following: Brought forward £ 471,354 471,354 Year ended 31 December 2023: Brought Incoming forward resources £ £ Designated funds 543,354 - General fund 150,691 230,450 694,045 230,450 Designated funds comprised the following: Transferred to the CIO £ 543,354 543,354 Designated funds Unrestricted funds Manse Property Fund Designated funds Unrestricted funds Manse Property Fund |
Resources expended £ (144,000) (256,141) (400,141) Incoming resources £ - - Resources expended £ (72,000) (212,383) (284,383) Incoming resources £ - - |
Transfers in / (out) £ - (2,766) (2,766) Resources expended £ (144,000) (144,000) Transfers in / (out) £ - (1,683) (1,683) Resources expended £ (72,000) (72,000) |
Gains / (losses) £ - (2,837) (2,837) Transfers in / (out) £ - - Gains / (losses) £ - (5,225) (5,225) Transfers in / (out) £ - - |
Carried forward £ 327,354 176,503 503,857 Carried forward £ 327,354 327,354 Carried forward £ 471,354 161,850 633,204 Carried forward £ 471,354 471,354 |
|---|---|---|---|---|
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BROADMEAD BAPTIST CHURCH
NOTES TO THE ACCOUNTS
For the year ended 31 December 2024
14. Analysis of movements in unrestricted funds (continued)
Description of designated funds
-
Manse Property Fund This fund relates to the proceeds the Church received from the sale of its manse property, which are designated to be used for the purchase of an alternative manse property or the renovation and refurbishment of the church building in due course at the discretion of the Trustees. In the year to 31 December 2024 £144,000 of funds were assigned to the Broadmead Chapel Trust for building work.
15. Analysis of net assets between funds
| Fixed Assets Investments Debtors Current asset investments Cash at bank and in hand Creditors due within one year |
Restricted Unrestricted funds funds £ £ - 10,270 - 162,972 - 18,590 - 294,449 12,373 41,801 - (24,225) 12,373 503,857 |
2024 £ 10,270 162,972 18,590 294,449 54,174 (24,225) 516,230 |
2023 £ 16,952 166,128 5,529 414,130 55,547 (11,652) 646,634 |
|---|---|---|---|
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BROADMEAD BAPTIST CHURCH
STATEMENT OF FINANCIAL ACTIVITIES For the year ended 31 December 2024
16. Statement of Financial activities - prior year
| Income Donations and legacies Investment income Charitable activities Other trading activities Other income Total income Expenditure Expenditure on charitable activities Total expenditure Net income / (expenditure) before gains / (losses) on investments Net gain / (loss) on investments Net income / (expenditure) before transfers Transfers between funds Other recognised gains / (losses) Acturial gains / (losses) on defined benefit pension scheme Net income / (expenditure) and net movement in funds for the year Reconciliation of funds Total funds brought forward Total funds carried forward |
Restricted Unrestricted funds funds £ £ 11,703 174,527 - 3,529 - 51,733 - 661 11,703 230,450 6,549 284,383 6,549 284,383 5,154 (53,933) - (5,225) 5,154 (59,158) 1,683 (1,683) - - 6,837 (60,841) 6,593 694,045 13,430 633,204 |
2023 £ 186,230 3,529 51,733 661 242,153 290,932 290,932 (48,779) (5,225) (54,004) - - (54,004) 700,638 646,634 |
|---|---|---|
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure relates to continuing activities.
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BROADMEAD BAPTIST CHURCH
NOTES TO THE ACCOUNTS For the year ended 31 December 2024
17. Related charities
Broadmead Baptist Church is a member of the Baptist Union of Great Britain (Baptist Union) and the West of England Baptist Network (webnet). During the period the Church made payments to West of England Baptist Payroll Company Limited (a subsidiary of webnet) in relation to its Church staff costs as summarised in Note 8 to these accounts. 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 1 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 Baptist churches that are members of the Baptist Union of Great Britain (Baptist Union). The funds were received from the West of England Baptist Trust Company Ltd and were held in the COIF Deposit Account.
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