REGISTERED CHARITY NUMBER: 1192789
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 31 December 2024
for
Park Baptist Church CIO
Steve Pye & Co. Chartered Certified Accountants Unit 10 Aylsham Business Park Richard Oakes Road Aylsham Norfolk NR11 6FD
Park Baptist Church CIO
Contents of the Financial Statements for the Year Ended 31 December 2024
| Page | |
|---|---|
| Report of the Trustees | 1 to 4 |
| Independent Examiner's Report | 5 |
| Statement of Financial Activities | 6 |
| Balance Sheet | 7 |
| Notes to the Financial Statements | 8 to 13 |
Park Baptist Church CIO
for the Year Ended 31 December 2024
Report of the Trustees
The Trustees present their report and the financial statements for the year ended 31 December 2024. The trustees have adopted the provisions of 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) (effective 1 January 2019).
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
Park Baptist Church is a charitable incorporated organisation (CIO) and was registered by the Charity Commissioners on 15 December 2020.
Members of the Church are accepted in accordance with the Constitution which requires them to be or to have been publicly baptised on the profession of faith in Jesus Christ or following other modes of baptism to renew their public profession of faith in Jesus Christ.
The members Meeting normally takes place four times per year and has responsibility for the overall policy of the church. In accordance with the Constitution, the members appoint up to five Trustees, who together with the Minister, Church Secretary and Treasurer (who are also appointed by the Members), are responsible for the day to day running of the church’s work and witness, and the financial and legal aspects of the charity. All members are encouraged to take an appropriate part in the spiritual and practical tasks involved in the furtherance of the chartable objective.
Relevant matters may be submitted to the Church meeting by the Trustees for guidance or may be raised by members in Church meeting for further consideration by the Trustees. Though the Constitution permits decisions to be made at Church meetings by appropriate majorities, the Church seeks to work by consensus wherever possible.
Objectives and activities
The principal purpose of the charity is the advancement of the Christian faith according to the principles of the Baptist denomination to include the advancement of education, community services and such other general charitable purposes in such parts of the United Kingdom and the world as the Church shall determine.
In order to achieve the principal objective, which is set out above, the Church provides a variety of activities both to its membership and to 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 services take place each Saturday and Sunday at 10:45 and 18:30 respectively. The Saturday service is primarily conducted in Portuguese and the Sunday service primarily conducted in English. Joint services are held regularly throughout the year with translation provided. There are also occasional services at other times which are advertised on the church’s social media pages and the website at www.parkbaptist.chuch. There is a children’s programme during both services. The church seeks to be a friendly and welcoming community, and anyone is free to attend any of these services.
The Church runs a series of midweek connect groups for the growth of faith and discipleship in the homes of some members, and further details of these can be obtained from the Trustees upon request, or at the services of worship.
The Church is responsible for an Art and Craft Group which meets in the Church premises on Monday afternoons, with the purpose of providing a welcoming space for those who may be isolated or lonely. A men’s and woman’s group, a friendship group, ESOL (English as a second language) classes as our commitment to human development and social engagement.
From time to time the Church runs courses for people interested in discovering more about Christianity, entitled ‘Alpha’, and further courses for those interested in learning about baptism and becoming a member of the Church.
Page 1
Park Baptist Church CIO
Report of the Trustees
for the Year Ended 31 December 2024
STRUCTURE, GOVERNANCE AND MANAGEMENT - continued
Objectives and activities - continued
The Church runs various events for Young People. The Church operates systems to ensure that all people working with children and vulnerable adults are appropriately vetted with regard to the Disclosure and Barring service.
The church has read the Charity Commission guidance on public benefit and is satisfied that the activities outlined above clearly demonstrate that the charity is providing a benefit to the public.
Recruitment and appointment of new trustees
Trustees shall be persons who through residence, occupation, employment or otherwise have special knowledge of the area of benefit or who are otherwise able by virtue of their personal or professional qualifications to contribute to the pursuit of the objects of the charity.
On appointment, Trustees are provided with copies of:
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a) The Memorandum and Articles of Association
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b) Charities Commission Guidelines “The Essential Trustees – What you need to know”
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c) A copy of the latest full accounts
In addition, the Trustees are encouraged to read Charity Commission and other newsletters and to attend courses designed to keep them abreast of their duties and responsibilities.
Achievements and performance
The Church does not measure the success of its programmes only in numbers, including financial numbers, but also in less tangible areas like fellowship and encouragement. The Trustees recognise that these are difficult to measure but believe that 2024 was a positive year in the life of the church, and that it will be able to pursue its mission purposes in 2025 with renewed enthusiasm.
Financial review
The Church continues to raise the funds which it needs to carry on its activities from within its own membership and congregation. No wider public appeal was made for funds during the year.
The most significant expense continues to be the employment of Revd. Jorge Damasceno as Ministers of the Church, to lead and co-ordinate the church’s activities including the services, to provide pastoral care for the congregation and other people, and to equip and encourage the membership in their life, Christian witness, and service.
The Church expressed its part in the life of the wider church by making grants to national and international Christian organisations and societies with Christian aims and objectives compatible with the church’s own charitable purpose.
The Church is heavily dependent on its membership working as volunteers in all aspects of the church's activities, many of which run with little or no impact on the church's expenditure, but nevertheless contribute substantially to the achievement of the church's objectives.
The financial results for the year, together with a summary of the accounting policies adopted are set out in the accompanying financial statements.
The church is a participating employer within the Defined Benefit section of the Baptist Pension scheme and has been making ongoing deficit payments to cover the costs of past service or its employees within the scheme under a recovery plan. The contribution has now been reduced to £1 a month since the Baptist Union was able to complete its recovery plan.
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Park Baptist Church CIO
for the Year Ended 31 December 2024
Report of the Trustees
Reserves policy
The Trustees have established a Reserves Policy to enable the church to function effectively and meets it obligations in the event of a decline in our income or a major cost. Having considered the relevant risks of changes in income and expenditure, the Trustees have determined that the appropriate level of reserves is within the range of £28,000 to £30,000.
As at 31 December 2024, the church held total reserves of £95,060.
Plans for future periods
The main objective of the church for the near future is to continue the process of looking for a new minister for the Englishspeaking congregation in due time. Meanwhile Rev. Jorge Damasceno and the leadership will be work for the church to continue to achieve the objectives established.
The church will continue to pursue the developmental plans are also in place in regard to an extension of the Church premises which will be able to accommodate a greater number of churchgoers and cater for larger amounts of events, in turn resulting in an increase in funds raised which can be used to further assist the community.
Risk appraisal
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.
Page 3
Park Baptist Church CIO
Report of the Trustees
for the Year Ended 31 December 2024
Reference and administrative details Registered Charity number 1192789
Principal address 14A Crown Road Great Yarmouth Norfolk NR30 2JN
Trustees
Mrs P Hillier (appointed 1/1/2023) Mrs S Grey (resigned 1/3/2024) Mrs J V Keenan (appointed 1/1/2022) Mr A N Formoso (resigned 1/1/2024) Mrs S Robinson (appointed 1/1/2021) Mr P J Chapman (resigned 1/1/2024) Rev J Damasceno (appointed 15/12/2020)
Independent Examiner
Liam McHugh ACCA Unit 10 Aylsham Business Park Richard Oakes Road Aylsham Norwich NR11 6FD
Property trustees
The Baptist Union Corporation Limited Baptist House PO Box 44 129 Broadway Didcot Oxon OX11 8RT
Approved by the order of the board of trustees on 08.10.2025 and signed on its behalf by:
Rev J Damasceno – Trustee
Page 4
Independent Examiner's Report to the Trustees of Park Baptist Church CIO
Independent examiner's report to the trustees of Park Baptist Church CIO ('the Trust')
I report to the charity trustees on my examination of the accounts of the Trust for the year ended 31 December 2024.
Responsibilities and basis of report
As the charity's trustees of the Trust you 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 Trust's accounts as carried out under Section 145 of the Act and in carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.
Independent examiner's statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
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accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or 2. the accounts do not accord with those records; or
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the accounts 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.
Liam McHugh ACCA
Steve Pye & Co. Chartered Certified Accountants Unit 10 Aylsham Business Park Richard Oakes Road Aylsham Norfolk NR11 6FD
Date: 23.10.2025
¶
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Park Baptist Church CIO
Statement of Financial Activities
for the Year Ended 31 December 2024
| Unrestricted funds Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 2 59,062 Other 3 11,437 Total 70,499 EXPENDITURE ON Raising funds 4 41,326 Charitable activities 5 15,135 Other 1,000 Total 57,461 NET INCOME 13,038 RECONCILIATION OF FUNDS Total funds brought forward 95,060 TOTAL FUNDS CARRIED FORWARD 108,098 |
Restricted fund £ 10,075 - 10,075 - - - - 10,075 - 10,075 |
2024 Total funds £ 69,137 11,437 80,574 41,326 15,135 1,000 57,461 23,113 95,060 118,173 |
2023 Total funds £ 67,429 100 |
|---|---|---|---|
| 67,529 | |||
| 42,737 23,680 1,000 |
|||
| 67,417 | |||
| 112 94,948 |
|||
| 95,060 |
The notes form part of these financial statements
Page 6
Park Baptist Church CIO
Balance Sheet 31 December 2024
| Unrestricted funds Notes £ FIXED ASSETS Tangible assets 10 1,000 CURRENT ASSETS Debtors - Prepayments and accrued income - Cash at bank and in hand 11 108,598 108,598 CREDITORS Amounts falling due within one year 12 (1,500) NET CURRENT ASSETS 107,098 TOTAL ASSETS LESS CURRENT LIABILITIES 108,098 NET ASSETS 108,098 FUNDS 13 Unrestricted funds Restricted funds TOTAL FUNDS |
Restricted fund £ - - - 10,075 10,075 - 10,075 10,075 10,075 |
2024 Total funds £ 1,000 - - 118,673 118,673 (1,500) 117,173 118,173 118,173 108,098 10,075 118,173 |
2023 Total funds £ 2,000 - - 96,849 96,849 (3,789) 93,060 95,060 95,060 95,060 - 95,060 |
|---|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 08.10.2025 and were signed on its behalf by:
............................................. Trustee
The notes form part of these financial statements
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continued...
Park Baptist Church CIO
Notes to the Financial Statements for the Year Ended 31 December 2024
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Expenditure is recognised when a present legal or constructive obligation exists at the balance sheet date as a result of a past event, it is probable that a transfer of economic benefits will be required to settle the obligation, and the amount can be estimated reliably. It is inclusive of VAT which cannot be recovered.
Direct costs are those costs which directly attribute to its activities. Wages and salaries are allocated to direct costs based on an estimate of time spent on charitable activities by staff members.
Support costs include staff costs and are those which do not produce a direct output. Staff costs relate to specific activities and this is reflected in the allocation of payroll costs based on the percentage of time spent.
All costs, including governance costs, are allocated between the expenditure categories of the charity on a basis designed to reflect the use of the resource. Costs relating to a particular activity are charged directly; others are apportioned on an appropriate basis.
Support costs and overheads have been calculated by allocating staff time to the level of involvement in the various activities of the Charity.
Tangible fixed assets
Tangible fixed assets, such as land and buildings, plant, vehicles and equipment, are held to provide an on-going economic benefit to a charity through their contribution, directly or indirectly, to the provision of goods or services by the charity.
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Fixtures and fittings - 20% on cost
The premises in which the Church operates in and the private dwellings which a serving Pastor is currently inhabiting are owned within a Trust, specialising in Baptist Churches across the United Kingdom.
The use of the buildings has been exclusively restricted to Church activities only.
The entity is also not in a position whereby they will ever own the properties. Therefore, the respective values of the properties have been omitted from the accounts in order to increase transparency and adhere to the true and fair view reporting concept.
Taxation
The charity is exempt from corporation tax on its charitable activities.
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continued...
Park Baptist Church CIO
Notes to the Financial Statements - continued for the Year Ended 31 December 2024
1. ACCOUNTING POLICIES - continued
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
Pension costs and other post-retirement benefits
The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
2. INCOME FROM DONATIONS AND LEGACIES
| Donations and gifts General grants provided by Government/other charities Gift Aid Portuguese gift aided gifts 3. OTHER INCOME Gain in disposal of fixed asset Rental income 4. RAISING FUNDS Trustees’ salaries Support costs 5. CHARITABLE ACTIVITIES Bank charges Repairs and maintenance Support costs |
2024 £ 31,795 - 37,342 - 69,137 2024 £ - 11,437 11,437 2024 £ 35,215 6,111 41,326 2024 £ 319 - 14,816 15,135 |
2023 £ 22,547 1,000 41,055 2,827 |
|---|---|---|
| 67,429 | ||
| 2023 £ 100 - |
||
| 100 | ||
| 2023 £ 37,809 4,928 |
||
| 42,737 | ||
| 2023 £ 260 1,808 21,612 |
||
| 23,680 |
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Park Baptist Church CIO
Notes to the Financial Statements - continued for the Year Ended 31 December 2024
6. SUPPORT COSTS
| Insurance Church expenses Telephone Sundries Middlemarket Road – expenses Donations Training and related expenses Governance Costs Accountancy Pensions Manse expenses NET INCOME/(EXPENDITURE) Net income/(expenditure) is stated after charging/(crediting): Depreciation - owned assets |
2024 £ 3,005 5,854 645 828 - 639 1,257 1,500 6,528 671 20,927 2024 £ 1,000 |
2023 £ 2,871 5,022 545 730 187 500 - 3,096 8,944 4,645 |
|---|---|---|
| 26,540 | ||
| 2023 £ 1,000 |
7. NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
8. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 December 2024 nor for the year ended 31 December 2023.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 December 2024 nor for the year ended 31 December 2023.
9. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted funds £ INCOME AND ENDOWMENTS FROM Donations and legacies 67,429 Other 100 Total 67,529 EXPENDITURE ON Raising funds 42,737 |
Restricted fund £ - - - - |
Total funds £ 67,429 100 |
|---|---|---|
| 67,529 | ||
| 42,737 |
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Park Baptist Church CIO
Notes to the Financial Statements - continued for the Year Ended 31 December 2024
| 9. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued Unrestricted Restricted funds fund £ £ Charitable activities 23,680 - Other 1,000 - Total 67,417 - NET INCOME 112 - RECONCILIATION OF FUNDS Total funds brought forward 94,948 - TOTAL FUNDS CARRIED FORWARD 95,060 - 10. TANGIBLE FIXED ASSETS Fixtures and fittings £ COST At 1 January 2024 5,000 At 31 December 2024 5,000 DEPRECIATION At 1 January 2024 3,000 Charge for year 1,000 At 31 December 2024 4,000 NET BOOK VALUE At 31 December 2024 1,000 At 31 December 2023 2,000 11. CASH AT BANK AND IN HAND 2024 £ Lloyds 111,420 Barclays 7,253 118,673 |
Total funds £ 23,680 1,000 |
|---|---|
| 67,417 | |
| 112 94,948 |
|
| 95,060 | |
| Totals £ 5,000 5,000 3,000 1,000 4,000 1,000 2,000 2023 £ 89,596 7,253 96,849 |
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Park Baptist Church CIO
Notes to the Financial Statements - continued for the Year Ended 31 December 2024
12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| Trade creditors Other creditors 13. MOVEMENT IN FUNDS Unrestricted funds General fund Designated funds Restricted funds Restricted funds TOTAL FUNDS Net movement in funds, included in the above are as follows: Unrestricted funds General fund Restricted funds Restricted funds TOTAL FUNDS |
At 1.1.24 £ 93,665 1,395 95,060 - 95,060 Incoming resources £ 70,499 10,075 80,574 |
2024 2023 £ £ - 189 1,500 3,600 1,500 3,789 Net movement At in funds 31.12.24 £ £ 13,038 106,703 - 1,395 13,038 108,098 10,075 10,075 23,113 118,173 Resources Movement expended in funds £ £ 57,461 13,038 - 10,075 57,461 23,113 |
|---|---|---|
RESTRICTED FUNDS
Restricted funds consist of……..
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Park Baptist Church CIO
Notes to the Financial Statements - continued for the Year Ended 31 December 2024
13. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| At 1.1.23 £ Unrestricted funds General fund 93,553 Designated funds 1,395 94,948 Restricted funds Restricted funds - TOTAL FUNDS 94,948 Comparative net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 67,529 Restricted funds Restricted funds - TOTAL FUNDS 67,529 |
Net movement At in funds 31.12.23 £ £ 112 93,665 - 1,395 112 95,060 - - 112 95,060 Resources Movement expended in funds £ £ (67,417) 112 - - (67,417) 112 |
|---|---|
14. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 December 2024.
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