**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:
- a) The Memorandum and Articles of Association
- b) Charities Commission Guidelines “The Essential Trustees – What you need to know”
- 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.
Page 3
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:
1. 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
3. 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
¶
Page 5
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
Page 7
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.
Page 8
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|
Page 9
continued...
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|
Page 10
continued...
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|
Page 11
continued...
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……..
Page 12
continued...
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.
Page 13