CHEAM BAPTIST CHURCH Registered Charity No.'1193212 Unaudited Report and Financial Statements for the year ended 31 December 2024 CHEAM BAPTIST CHURCH Unaudited Report and Flnancial Statements for the year ended 31 Decemb8r 2024 Co￿rE￿irS Page Report ofthe Trustees Report ol the lTrdepend8nl Examiner Statement ol Financia Aclivib'es for Ihe year Balan(e Sheet statemenlof Ca5hfiows Notes to the Finanaal Statements 10 CHEAM BAPTIST CHURCH Unaudlted Report and Financial Statements for Ihe year ended 31 December 2024 REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024 The Trustees pygsenl th8ir repcrt together with the finanoa siatsments ol Chgam Bapb'sl Churth IC8CI for the year enikd 31 Decemter 2024.. R•fwonc• and admlnlstralvo detalls Registsred Charitynumbgr. Principal Offic•." Ind8P￿dent Ex•mlnor. 8ank6r4.' 1193212 4 Park Roay, Cheam, Sutton. SM3 8QB JCS A¢￿UntantS Ltd, 5 R(￿'n H¢xKI Lane, &Jtton. SM12SW Bardays Bank PLC, Wimbledon 3, Leicester. LE87 288 CAF Bank Ltd, 25 Kings Hill Avenue, Kings Hill, Wesl Malling. ME19 4JQ lfjngdcKn Bank Ltd. M￿]￿8 Hou88, Padge Road, Beeston, Noitingham. NG9 2RS London Baptist Prcwty Board, Unil C2, 15 tknk Street, London E1 &JN Charity Bank Ltd, Fosse House, 182 H￿h Street, Tonbrrte TN9 18E Metro Bank PLC, 83-87 Hgh Stregl, Sutton. SM11JF E￿*d Connor, 10 The PoinL Market Hérborough. LE16 7QU Solkllorn.. Trustee$ Pastors Butcher, Nigel P Fry, Christopher L Il'chard9)n. Neil M Elethy July 15 Re&gned (klobw 2024 Elecied January 2025 Senhy Pastor Assoaate Pastor ssoaats Pastor for Evangelisrn lfrom April 20251 Elde Benley. David J Comish, N￿h￿aS C Fblcher, Peter J Horwood, Daniel M Wdker, Andrew M Williarns, Bru￿ R Wyman. Malthew C SI0￿1 do￿ June 24 ReQ￿d June 22 ReoLected (￿tOler 24 Elected Cktober 24 Elected January 25 Re*lected (Itober 24 Re-8k9Cted June 24 Espeio, Genefer D De Green, Neal J Chair ol Trustees Hore, Dayid S Per￿￿ne1 Deacon Lock, Stephen B FabrK Deacy)n Street, Wendy K Treasurer Wnghl, Peter R D8xon ReoleLtted June 23 El&t8d June 22 Re*lected June 24 Elecbj June 23 El￿ted January 25 El￿ted June 22 The London 8aptist Protwty &sard acts as Custodian Trustee for the folbwing freehdd prope￿88.. the main chur¢h bJ¢lding, Chur¢h Halls, and 12 Park Road, wilh CBC ha￿n9 beneficial use of Ihe premises. T￿se yemises are rKcsnTrg& as ￿Seh￿d premises. The remaining c*urch lfr8ehokJl premises are hekj in the na￿ ol CBC. Flnance Commlttee CBC'S Finan￿ Cmnittee is made up as fc￿￿.. Treasurer Wendy Str￿t Deac￿ IEkcted Jan 251 Eknied members Chanuer, Paul A Goddwd Neil C Hore, Dawd S Lock, Stephen B Wrigh( Janice M Churth Member Church Member Personnd Deacfjn Church Membar Structure, Governance and Management Stmclurn CBC was founded in 1862 and ct)nstitul&l as an unincorpcKaled tharity by trust d8ed 013 Augvs11907. Ilwas registered with the Charity Commission in KJ9 Ino. 11291111. ￿ 1 April 2022, the Churth tr￿Sferred all of its a88ets, li*iilitie$ and acbmlrds lo a Charitable Inc(wp)rated CIganLsab'￿ ICIOI Ino. 11932121. whith retains the same narne, CBC is now govemed by its constitub"on. M8mb8thip of CBC 15 confinfjj to persons who confes5 faith in the Lor(l Jesus Christ, accept CBC'S 'Basis of Faith,, and whos8 tyicab'on for M8mbgrship has been appro¥8J al 8 Church Meeting. Pastors, Elders and De￿On$ are ex o)*w Iruslees akwnle(S by the M8mt¢rs ol CBC. In 2024 there TrA*re five Churth Members, M98b'ngs. CHEAM BAPTIST CHURCH Unauditsd Report and Financial Statements for the year ended 31 December 2024 Roles of Trusloes CBC'S Trustees manage th8 affairs of CBC, with all immnl deo$ions ￿ng wl to CBC $ MernbeTS al Churth Memtrws, Meeb'ngs. In general, Eld8rs Dea￿ns, under the oversKJhl of CBC members, concenlrats res￿h.¥eIy on siirilual affairs and p￿tiCal affairs. The Senior Pastor i8 responsible fcf the day-to-day operation of CBC &%5iSted by the A8SCKtate Pastor, a part-bme Churc* Ccpordinator and a Churth Op*rab'on$ Manager. During 2024 C8C's Trustees mèl 7 limes lo manage CBC'S affairs. Appolnfrnentof Truste•8 Pastors are apwnted for an indefinite term al a Special CBC Members Meeting and EWers and Deacons are elected frorn thurch members also as ex olkn Trustees and are appointed for a thre8-year temi, ￿newab￿ for Iwo futher ox)nseGulive Ihree-year teryns. Thereafter there musl inlerval ol al lea51 one year before Ihey can te appointed èjain. CBC Mefflbers are nobfied of retiring Elders and De￿0￿$ and In￿lted to nominate CBC Memt)ers for election as Elders Deacons al the Annud Fellowship Meeting, usually held in June. Trn8tee8'lnductlon •nd Tr•ining Trustees have a￿5$ to the Trustees area of CBC'S website containing, inter alia, minutes ol Trustees, mealings, CBC policies, g0veman￿ doDJments and releYaTrl Charity commissi￿ publ'calKJns. Tnjsiees are kept updated ￿ deydopwts in Charity yacti(* aThY by the Trust88 ch￿r. Prin¢ipal risks and uncertalnties The Trustees have identifi&Y the major risks to 14fiich CBC cyjjld be exposed. Systems and prc¢edures have l)een established to meet those risks. CBC maintains a Fl'sk Register identifying gen8ral and financial risks and proposing rernedia measures for regular review. Major identified risks are.. Safeguardlng.. is paraftKsunlgiven Ih8m&)y children, young people, and vulnerable adults thalwe are regularly in cont&t ¥wlh Safeguarding PdK7es for both Children and Adults are vi place, regularfy upjaled and available on Ihe Church web￿te. There are nam& Safeguarding Leads for each p￿￿Y area. Safeguarding is a standing agenda item al botti Trustse and Churth n*eling5 and a saf￿Uardi￿g group ffleets regularfy. DBS checking is kept up lo date. A Twstse has oversvJhl ol this Policy ￿ea. Lo$$ of k¢y managgmgnl pgrsonnol: loss of any of our key staff would have adverse impact. Temporary r¥acernenl is feasible, bul there are few olher acb'ons or mitigab.ons Trustee$ (x)nsMler appropriate as il would lake time to advertr'selrecruil replacerrEnts. We are also reliant on some key vdjjnleers finan￿ experb.se Énd seek lo mitigate this risk by ensuring financial tasks and infomiation are shared as much as FX)ssible. Losgof premises.. m8jordamage to CBC'S trAJildings would disruplour weeklyactiwliesconsiderably. Altemative premises would be urgenlly needed, ilh all the implications that WCKJld bring. A Property Tearn oversees Maintenan￿ of C8C's properties wlh fire prevenlab've precaub'ons and systems in place. R4ularchethsoffire systems areorried ouland firo training is periodically given, 8￿h t8rm in pre-￿001, and to CBC membersgenerally, most r&enUy in ￿rnn￿r 2024 when fire drills were carried out after Ihe moming and evening Se￿(*S. KeyManagemen¢ Pwsonnel Thg Trusteeseth$ider that the Pa51ors and Trustees ofCBC are the Key Manapmenl Personnel. Oeta'ls olremunwation of Key M8n8gemenl Personnel are disck)s8d in Note 8. Remuneration of Pastors 1$ agreed by a Remuneration Panel o)n5i%ling of three indewdenl Truste8S. Related Partl•J Details ol related party tran5actrons are disd08￿ in Note18. The London Wb'sl Pr¢¥erty Board albws Ihe Church lo use the Churth, Churth Halls, and 12 Pak Road premises. Nigel Butcher, Pastor and Trustee, a Trustee of &Jtton sch￿15 Christian Workers Twsl, which receives an annual donat'on for the supput ol its wothers in IrKal schwLs. Oavid Hore, a CBC Trustae, is an ernployee of CES, an eleGtrKal (x)ntracting ¢￿panY speciJisng in church lighting that LW5ionally carries out elethcal wyyk for CBC. Trustees gjbmil Declarations Ihal they are'Fil and Prowr Persons, undgr the Finance Act 2010 and of &)y potentially conflicting interests ￿d, al e￿h Trustees, meeting, lo dedare any new potenbal conflict of interesl. A Pdicy L8 in pla￿ defining prctedures lo ensure Conflicts ol Inleiesl are propedy dealt wth. Anna Fry, wfe of Chris Fry (Pastor and Truste& until Ocioi*r 20241 who was appr4nted P￿sCh¢XlI Manager in January 2023 (with approvl from the Charity Cc*nmiSs￿n), resigned in February 2025. Lucy and Chloe Fry. daughters ol Chris Fry, were on contracts for services wilh CBC Pre-school unts'l Qktoi*r 2024. Nick Cornish, CBC Trustee, is father of Luke Cornish, whose training as Pastor al Gr￿ Churth Kidlinglon is fvnded by C8C,' and lather of Ben Comish, who during 2024 was on a casual ￿ntr￿t for serwc*s with CBC Pre-school. At&ie Butcher, daughter of Nigd Butcher IPastor and Trusteel. was on a casual tx)ntr8Ct for gerwos with CBC Pr&School during 2024. CHEAM BAPTIST CHURCH Unauditsd Report and Flnancial Statements for Ihe year ended 31 December 2024 Voluntoors Much ofthe fegular in mantaining and d8aning the prernI￿ is undertaken voiuntsrily by CBC Members Ewl, there necessary, outside o)ntraclors are used. About100 volunieers, mosuy CBC memters, h* to run CBC'S acbwties in futherarKe of its tharitable purposes, including Trust￿, Finan Tearn. Wortd mis&(￿ Pat)ers, Growth Gr￿p ￿lers, Sunday andother youth xts'vityjeakn, mu*oans, church deaners. OIY hdrers andothers. Objectives and actlvltlès of Cheam Baptlst Church 2024 The purposes of CBC, a5 seloul in its constilution, we., the &Jvancemenl ol the Christian fath in a¢￿dan￿ with its Basis of Faith, primarl(y bul not exdussvdy vnthin Ch&am, Suttcfj, SU￿￿Y and the surrounding n￿btKWrhC￿', the advartemenl ofwjucation,. and such othw charitatJe purpo$e$ as shall, in the ￿lin￿)n of the charity trusiees, pul into sxactse Ihe Christs'8n fath in awdance with th8 Bass of Faith. 8 a Chrisb'an Church CBC'S primary purtM)se5 are lo seNe and glorify God, to adwdnce the Chri%lian Fath by promoliM olthe Gospel i.e. Ihal ￿1 peopKg need lo be lo a Hdy l￿d and can be 30 onty thrtyjgh Jesus Chnsl gave His lrfe lo adiieve this, lo obey Jesus, comrnand Yo go &ndm8k8 discNples' and lo seek to equip people, Ihrough God's power, lo serve in the (x)mmunty. CBC believes Ihal the &'ble is thje, teathes what God is like and Fyomdes a guide for living. CBC *kx)mes of all w and b&kgr￿ndS and s88ks to benefit Cheam and Ihe ¥I￿r community elsewhe￿ in the UK and overseas. CBC has adop￿ a Vision $t*emenl gethNJ out how we intend to furthw our purposes, based on 6 key artas.. Witress lo Jesus. Conn&t to Jesus, Church, locally, nationally and intemationally Worship Jesus. Grow to te like Jesus. Equip to serve Jesus, Church. Pther in Jesus, mrssion. During 2024 Ihe Trustees devdoo a Strategy based on this Wgion, for adoption in 2025, In fuiure years, w8 will report agansl Ihe outcomes in this strategy annual Objeth.￿ drawn frcffl IL replaryng thè objectives bdow. The man regular actiwties ofCBC durmg 2024 We￿.. Weekly Sunday moming servKe and Sunday èvening prayer meeb'rrtJ Iwilh the L￿d'S ￿p￿￿ronc$ a rrrf)nth, morning and evening). Easter and Christma5 setiri￿ bolh in thurch and in the Mder ￿MmUnty. Fothighly Gtowth Groups (small group meeliTr95 lor prayer and Study). Zcx)rn meetings every 6 weeks ¥￿th our missK)n pathers in SAxJth Africa. Mddova, USA, Poknd, Ukraine and th8 UK, rneeting together to hear their news and pray together. Weekly thiklren's and ycuth ￿)rk on Friday evenings and &Jnday momings. Wthly grI￿p$ for many of the drff8renl group5 in Cheam and the n&ghbourhocd, induding toddlers & parents,. seniors., intemationals. CBC proMding morning and aftern￿n session5 weekday. Achievements and Perforniance Thg work at CBC Oblecllvg.. to enablg thg good n8￿ of JOGUS to build upth• thurch members. outcom￿.. s of Decemtw 2024. CBC h&1 a fomial membership of 218. During Ihe year. 1 new memttr jryned, 9 membws died and 15 member5 moved away112 joining other churthesl. Alhough this represents a net dwJease 0123 in fL￿al rnembership, numbers in our wthr congregation remain si$tsnUy strong. Ottr thurch comrnunity is diverse, representing over 40 na￿'￿all*.e$, and ig unrfomily spre&1 by demcgraphic. Attendan￿ al Sunday Moming services was beh¥oen ￿ery we8k, Many ￿ls1¢0[$ and farnilies becoming regulors Isorne bec(xnlng rnember5 in 202SI. We conkn'nued to produc* notes in Chinese and UkranHn to support Hong K￿gerS and Ukrainians in our church cornrnunity. We have increased the numberofchurch members involved in leaing Sunday seNc88, making Servi￿ morè refiective ofour diwse o)rnmunity. We ¢￿￿.nue to live-stream Sunday M￿Ing and Chrisknas SerW￿ OTr YouTute, patlculady for members who cannot atteftd kn person, r￿ul￿Y rthiwng around 150 views online. Sunday Evening meets'ngs indudd sh8rfng of tests'monies from the cOngr￿al.(￿ highlvjhting the wodness ol G¢)J in the fxe Of1**￿nge8, seminars on topical issues. CHEAM BAPTIST CHURCH Unaudlted Report and Flnancial Statements for the year ended 31 December 2024 Outcomes Ici)nt'dl'. Other ways we have sUpp)rt￿l membeTS lo grow in their fwlh include Lent and Advent daly de¥otronal bocks given to thurch n￿rnberS., a Church Away Day in June with a guest speaker, and Equip evenings, providing training to those in different ministry areas. We praise God for growing numbers in our thildren's work- and the enthusiasm and commilrnenl they hav8 f(￿ their group. Many of them move into (xjr youlh work as they gelokler. Wewould like lo ach￿Ve greaterengag8menl vAlh parents, espeually wth those le$$ connected to thed)urd). Jl il's great lo see growtti in the lives of our youn9 people- Many olwh)m. in lum, vdunleerin Ihe ￿d9 Club, gi￿ng b￿k and growing in faith and maturity. This summer we hosted another SU￿5$ful HOl￿aY Club. We have kept in touch by regu18r emails and18tters wilh 17 students away al university who have a ￿Jnneth"0n wth CBC.. and through annual updates with a w￿r t￿Mmunity offorrner (now Asso(iatel members. Thewoth in the community ObjectiV9.' To enable the good news of Jesu$ to bring blesslng to our local communlty Outcomes.. We parhapated in cornmunityevents in Chearn, including the Charter F&rand pre-chnstrnas Late Night Shopping, opening Ihe thurch and prowding children's &tiwlies and refreshments, building (xntsct wth Ihe non were restricted and £1,973,000 12023.. £1,969,0(H)I were d8signated. Free reserves Igeneral fundsl were £159,00012023', £131,IKX)I, Fabrpc Fund Ide8ignaled generall was £182,￿0 12023.. £162.IJX)I, totslling £341,00012023.. £293,000). The Reserves Pdy 5tstes that the Church is lo mantain unreslricted funds al a k¥el whth equates to dventy.ffive per cent of ￿n*la1 b￿Jgeled exFendilure for thé forth(xx))ing ye&. 2025 expendityre is forecast io ts r£473,000, thug calkng for reserves ol c£118,0￿. Current Reser￿5 are £341,(KK>. policy mel. The Church Pr&school IrestTrcted fvnd51 has the same poI￿y. For 2025 exFendibJre is fOr￿aSt to be r£158.OtK). thus cglling for reserves of (£39,500. Current Reserves £78,000- mel. Tru5t8es' rnsponslbllldes In relation to the Financial Statements The tru51ee5 are rest￿￿ble for preparing the Trustees, Annual Rep)rt Ihe finanLaal statements in accordan￿ w+th applieatle law and United Kingth)m Accwnb'ng Standards induding financlal reporb'ng stsndard FRS 102.. The Finanaal Reporting Standard applic*le in the UK and Re￿￿￿ ol Ireland (United lfjngdom G8nerally AKepted Acthjnb'ng Pr￿￿￿1. The Lw appli(*le lo tharib'es in England and Wale5 require5 Ihe trustees to prepare finanad statements for each fin￿(aal year %vhiL* give a true and fair wew of the slate ol afFair5 of the and of the in￿)Me and expenditure of the chaTrly for ihal period. In preparing these finanual statements, the trustees arè required lo.. S8￿Ct suitaNe acccKJnl'ng poli(xès and Ihen apply them con$islenly', observe Ihe Methods and prinuples in the Chariti"e5 SORP., makejudgrnenls and estirnates that are reasonab￿ and prudent state whether wy))untsftg stwdards have been SU￿.￿1 to ￿Y material departures disdosed 8xplaned in Ihe financHI $tsternents,' and prepare the financial stalemenlson I￿goI￿j concem basis unb&8 il is inappropriatelo presume thatthe charity willwntinue in ixtsiness. CHEAM BAPTIST CHURCH Unaudited Report and Financial Staternents for the year ended 31 December 2024 The trustee$ are responsible for keeping prcyer wiunb'ng [￿rdS thaldi8dose reasonabl8ac4Jracy al any time the finanraej Fh)sslKsn of the ¢harity and enab￿ them to ensur8 that the financial ststernen15 comply with Ihe Charities Act 2011, the Charity (Accojnts and Reportsl Regulab'ons 2W8, and the prowsions of the constibjtion. They are also responsib￿ for safeguarding the asse15 of the charity and hence for ta￿.ng reasonable stsps io prevent and det8ct fraud and other irregularib'es. Indyndent examlnation JCS Awountsnts Limited were reapkK)int8J &8 the IndeFencÈnl Examiners to Ihe Church at the Annual Fellowship Meetin9 hekl in June 2024. Approved by the Trustees and Signed on their behaw by.. Trustee." N J Green Ichar of Trusteesl Trustee.. W K Street ITre8surerl Date.. 29 April 2025 CHEAM BAPTIST CHURCH Unaudltsd Report and Financial Ststements for Ihe year ended 31 December 2024 Independent examlnerfs report to the trustees of Cheam Baptlst Church I rewrt to the c*arity tnjstees on my examinatK)n ol Ihe actounts of Ihe Chean Wtst Chur¢h lthe ch￿ty) for the year ended 31 DKemt¢r 2024 sel out on pages 810 17. Responsibillues and basls of report As the charrtls trus￿8 you are ￿spOrtsIble for the preparatioTr oflhe actounts in axordance wth the re4ulrements ofthe Charfties Act 20111'the Acfl. I re￿rt in respect ol my examination ol the Charity's M)unts as carried out under seckn 145 of the Art and in carrytng wl my examinatiN I have fd10￿j 811 the ap￿ica￿e O¢rect￿n$ gI￿n by the Charily Commission under 14515llbl of the ￿t. Independent examinerfs st*ement ￿n￿ the Chanty's gross incorre e￿eded £250,0(H) your examiner musl be a ffleM￿ ofa tr￿JY listed in se¢tion 145 of the 2011 Act. l that I am qualified b undert*e the examination be¢ause18m a meM￿r of the Instiiute of Chartered kn)￿n￿nts in England and Wales, thich is one ol the list￿] bjdies. I have comFAeted my examination. I confirni that no matters have ¢omo to my attents'on in connection wlh the examinati￿ giwng mg cajse to believe that in 8ny materia] reswt.. ac(x)unling re￿rdS w*re not kept in respect ol Ihe Charity as required by section 130 of IheAct', e a(￿jftts do not acurd wlh those records,. or the ac£ounts th) not o)mply with Ihe ap@Kab￿ requirements o)nceming the fomi and ￿ntent ol accounts sel out in Ihè Charities (Accwnts and RekKsrtl Regulations 2￿8 other than any rw4uirem9nl that Ihe accounts 9've a'true and fair whith is not a mattel (yjnsttjered as part ol an indepgndenl examination,. or the accounts have not been prepar￿A in ac£ordanc£ wth Ihe rnelhods and wn￿￿e$ of kcounting and Reixyb'ng by Chanlies.. Statem￿1 of Reccfflrnended Pr&tice apFAic8ble to charrtK9s preparing their ac£ounts in wjrdance wilh the Finanaal Rwrting sI￿d￿d apt4K*le in the UK and the Repll￿￿ of Irel￿d IFRS 1021 I have no concem5 and have come ￿rosS other rnatters in with the exarninakn to whith attention should be drawn in this reF￿ ift order 10 enable a proper understanding ol Ihe accounts to be re*hed. Miriam H￿kSOn CTA FCA JCS A(xountanls LSmit8d 5 Robin Hoc¥J Lane Suttc Surrey SM12SW Date. I to LS L¢)ro >0¢7> y cfj co Ln¢o¢ou>CqC .5 11 E 22£- 11 I Iii,. ¢0 v) • O CHEAM BAPTIST CHURCH Unaudlted Report and Financial Ststemgnts for the year ended 31 Decembei 2024 Balance Sheet as at 31 December 2024 2024 2023 £000 £000 Fixgd Assots TangiNe FIX￿ Assets 1,791 1,807 Current Assets 12 Debtors and prep8yrnents Short temi depx)sts induding Cash al8￿)k 21 356 378 521 cu￿Ont LlabilM•s'. 13 Due wilhin one 19 19 Not Current Assets 359 15 Net As$et$ 2278 2.166 Funds 14 Reslricled Unresth'cted.. General Designated Fixed thets Fund Fth Fund 146 66 159 131 1,791 182 2,2n 1,807 162 2,166 Apyov&l by the Trustee5 and signed on th￿r behaK by Trustee.. W K Street (Treasurer) Chwr ol Trustees.. N J Green Date.. 29 Apnl 2025 CHEAM BAPTIST CHURCH Unaudited Report and Financial Statements for the year ended 31 December 2024 Statement of Cash Flows for the year ended 31 December 2024 2024 £000 2024 £000 2023 £000 2023 £000 Cashflows from operating activttles Nel Inwmellexr￿ndItLtr8I 112 Adjustments for.. Depreryab'c Interest income Ilnc¥easel D￿rease in trade and Olher r￿*￿vableS Inrxease {￿rease inl trade other payables 16 17 151 15 117) Cash Il¢)ws gengrated from operation¥ 132 85 Ir+terest paky Ngt cashflow from oporatlng actlvltlos 132 85 Caslfflows from investlng acttvltles Purtha5e of property ￿an1 equiprronl Inte￿$1 received 1381 12 12 133) Nel Increase I 1d0cr9￿l in cash 144 52 Noteto the Statement of cashflo￿l2O241 At31 Docomber 2024 £000 At 1 January 2024 £000 356 Non cash movements £000 Cash Ilows Cash al bank Loans falling due wthin one year Loans falling due after more than one ye Nel cash 144 356 144 500 Not• to thg Stalement ol C*ghflow¥12023} At31 D￿mber 2023 £000 356 At 1 January 2023 £000 304 Non ¢ash mo¥om•nts £000 Cash flows £000 52 Cash al bank Loans falling due within one year Loans faling due after rnore than one y8ar Nel cash 52 CHEAM BAPTIST CHURCH Unaudited Report and Flnanclal Statsments for Ihe year ended 31 December 2024 Notes to the Financial Statements for the year ended 31 December 2024 Accounting polici Th8 Chijrth is a tharitabk inwjrated org8nisat¥)n, govemed by ts ￿n51[tul[0n. The Churth is a r￿IStered tharfty, number1193212.lts princap Offi￿ is 4 Park Ro&S, Cheam. &Jiion SM3 8QB. Tho Church rreels the deffnibon ofa puNic benefit entity undw FRS 102. The w'ncipal a￿jnI.ng ￿lI￿eS adopted, iudgernents and key sources of estimati)n u￿rtaVIty in the preparats'on of Ihe financ4al staterrents are a5 lollows.. 101 8asls of Accountlng The finanuaS statements are wepar&l in awdanc8 wth the Church's Consblution, the Chariles Statement ol R￿mmen￿l Practio (Charities SORP IFRS 10211 and Financial Repxting Stsndarii 102 IFRS 1021. The financial ststemgnts are drawn up on Ihe historical (x)sl basis of aC￿nts'ng. The financid statements are prepared in sterfing, whKh is the functi¢)nal ujrrency ol the tharrty and rounded lo the neafesl thousand pounds. Golng concom The trusiees have yepared detaikgd forecasts and Gashflow projecbonswhich they believe are based upon reaSona￿e assumptlons. Theforecasts 5M)w Ihal the d)arity should b8 abk91o OFerab f¢y the foreSe￿e fvture thus Ihe trustees cOns￿er il appropriate lo prepa￿ the financial stslements on a going concern bags. Ibl Incom• 11 is the Ftdicy ol the Church to reflect all donations, gifts and grants in Ihe Finantsal Statements in the year in whKh they are re￿ved. Tax is recoverab￿ on income re￿ved under GrftAid. Tax re￿Werable is accounted for in the yw in whKh the donaty)ns elc. are wived. Legaaes are reflected in th8 Finanoal Staternents in the year in wh￿h they are nots"fied. (k)vemmenl Grants are rewnised in inoyne when Ihe prcceeds are fec£ived ￿ rec¥iv*k. l UndesIgnat￿ ineome is appli&J to the Unrestricted IGenerall Fund, trom whKh all the g￿8181 running expenses are met UnrestrKigJ designated frJnds exist for drfferenl functions of the churth and lo assist with admini51rati(x). These funds may receive an althoti￿ fvom the Unreslrided (Generdl Fund each year in aco)rdance with the approved BudgeL Resthcted incorne is income which can only te useAI for the wrwses sFeafied by the t*Jnor. Icl Exp•ndSturè Expendilure 18 charged to the Financial Statements on an arxrual basis. Costs ol acti￿￿5 dlrecuy relating to the th ol the ¢hur(* Is 811 exFendilure dire¢Jy relab'ng io the objects of the church, gjth eA)sts are alocated betsveen the five activib8s cost categories includ&J in the Ststsrnenl of Finanu81 Acti￿tieS. Grants payable ar8 pay￿nts rnade to third paties in ￿rther￿ce oflhe Churth's objectives, Gr￿ts are amnted fOTOn￿ the reap￿1 ha5 be notrfwj ofthe grant award. {dl Tangiblfj Fix¢d A88•ts In aC￿Jrdan￿ FRS102, the Church has not ajopted a pdKy of revaluation. Freehdd land and buildings purchas&Y pmr to 1996 were brwghl into the balanc* sheet al a vauation &8 al Decefflber 1￿. These values ￿ere then treated as deemed costs. &nc£ 1996, properties hav8 tee capitalised at C05L Where the thurch enjoys the right to use the premises, vilhoul w¥ulrfng18gal ownership, the faK value of the asset ￿en first rnade avllable rwnised as inctsne and a fix&J asset. Fixtures and fitbngs purchased prK)r to 1996 are consRJered by the Trustees io ￿ of no IK*)k value. Purchases ol fithres, fittings. furnilvrtt. and 4uipm8Tr1 undeT £5,000 are not c•'talised. CHÉAM BAPTIST CHURCH Unaudited Report and Financial Statements for the year ended 31 December 2024 Accountln9 poli¢ig9 Iconvdl lel D9preciation Freehold buildlngg.. The ehurch ha5 a policy in of carrwng out regular rnaintenance and repairs Icharges for wh￿h are recogni8￿1 in Ihe SOFA) such that the asset is kept to its prewously assessed stsndard of t￿rfOrmanCe. Freehold land and building5 are not depr￿lated 88 the differen￿ between th￿r residual value and th￿rearrying amount is suth Ihal any depreoth'on tharged, and oJmuLqlive deprecialK)n, would not i rnalerial. An impairment rewew of such fixed assets in accordance wlh FRS 102 wts.on 27 is carried out as a131 De￿rnb￿ each yeat. Leasehold bulldlngs.. The London Baptist Property Board acts a5 Custodian Trustee of the Church, Church Halls and Churth Hwse at12 Park Road. The Church, as benefiaal user, pays no rent, t￿1 insures, repairs, and enjoys Ihe unfettered use ol them so il is ctnsidered the leaseholder. s we have an indetenninate k)ng lease the Tnjstees cwsider Ihatlhese protkrbes should not ￿ depreuated. the garaps Are dep￿al￿. Depr￿atiOn all otherfixed assets is charged as fdlows.. Catg90ry Leasehold ￿ik11n98 Eouipmenl Mgthod Straight line StrawJhl line Perfod Of rato fe of the lease 310 10 years lfj Pen$lons Pension contn'bulions, where awropriate, were made into pe￿(1781 pensKJn in the name ol employees and 0[r￿e Holders. Ig) Lea888 RenlaLs payabk under OFerat'ng ￿aSe$ ar8 charged to Ihe Ststemgnl of FIna￿la1 Adivities on a straighl-line basis over the lease terrn. Ih} Flnanclal Instrumgnts lal Flnanclal Aysfjts Cash, Cash and cash equiYaleTrls in the balan￿ sheet Corn￿1$e cash al bank5 and in hand and short.term deposits an onglnal maturity date of three rnonlhs or less. Debtors. Debtors wth no ststed interest rate receivable Wth￿ c￿e year we reL)Jrded al the trambon prtC*. Ibl Flnancial LiabilFtigs Creditors. Creditors vrith no stated interest rale and payat4e ¥￿thin one year are fecorded al trans¥tion prKe. 111 E$timatgs and5udgomentS The prep¥8tion ol a selof Finanaal Statements in e￿h year in¢lude5 a numberof estirnatss andjvdgements, %thich are made bylhe finan￿ team on ￿half of the trustees on b)Ih a re(yJrring and one-off basis. The most significant estimates and judgements made in 2023 land the pnor yearl are". lal Clas$rfication of expenses The classfficalion of expenses betr￿en the charrtat4e acliwb'es ol Corfmunicats'c￿slAdMln, Premises, Staffing, and MissionlMissK)nary Support can indude a*ree ofjudgemenl, as ortain expenses could be dassifMI into more Ihan one activity. The finan￿ team clKose to classify a ￿ls1 into a certain &bwly in order to keep con￿StenCY with othero)sts and prior y8ar treatrnenl. They often seek to understand fvrther the primary purpose of the o)st before making an appropriate dassificab"on. Ibl ￿a¢Y incom9 recognltk*n L￿ac￿S are acJ))unied for once the chaty has entiuemenl, ￿ is probabk the inC£￿e wll k rtteived, and the amount of Inco￿ can be reliably measured, Icl Depr•ciation Iivos and m•thods The Churth deprea8les all assets over thar e51imaled useful lives, using an appropriate Meth£￿ lo match the expense Ihe trtnefil r&xved, The Churth also ch(x)ses not to depreciate its fieehold proFeites, instead annually reviewing the c8Pitali8d o)sts for impaim)enl. The Choi￿ ol lives and methods for deprea'ab'on and the impamienl revtew indude a number of 5ignikni esb'mates due to the unique n8￿re and condition ol the &ssets. 12 CHEAM BAPTIST CHURCH Unaudited Report and Financial Statements for the year ended 31 December 2024 Offerings and donations Unr95tflctgd Funds R6strlctsd Funds £000 2024 20ZJ Éooo 265 139 £000 273 124 Regulargiving Lump sum d￿ati1)n9 Sunday offerings Inc¥)me tax recovwaNe 37 102 69 379 71 78 104 3 Lggaci98 l))e Wy of£50,¢JX> was r￿e1ved and distrbuted w)rding to the wishe5 01 the ieststor12023'. £5,0001. Income from Charltable actlvities UnT•strlcted Funds R•strlcted Fund$ £000 177 2024 2023 £000 177 £000 147 Prtrsehool Inoie 1481 Adult activities Youth athvth'es 185 154 (￿er Athiti8¥ Rental Income 2024 2023 £000 Gar4¢5 Houses 23 32 20 28 ndliure on Charltablo ActivFties Communl¢atlonlAdmlnlstratlon Unrestrlcted lund5 0￿Ignated fvnds £000 R68trlcted fund$ £ty)o 2024 2023 £000 19 £000 18 c{fi￿ Costs Govemance. 19 24 25 1nL*Jth£3,I￿)I2o23.. £3,C(X)I lwdentEx8￿IrwFèo Premises Unrestrlctgd D95Ignat￿ Restricted fundi funds funds £000 £000 2024 2023 utilit￿S, HouSekee￿ng & Cleaning Maintenan￿, Insuran(£ & Repairs Developmenvwiability Skndy Equiprnenl & DepYeu8tion 45 49 10 10 19 110 76 16 19 118 10 13 CHEAM BAPTIST CHURCH Unaudited Report and Financial Statements for the year anded 31 December 2024 Staff Costs Unrostricted funds £000 150 10 18 Dosignatgd funds £000 Restrlct6d fvnds £000 143 2024 2023 £OOD 293 16 19 £000 274 14 19 Salaries (incl Pie-sthodl Em ￿0ye¢S NIC Pensions Staff Exwses 185 150 335 313 No Trustee is remunerated by CBC apart from the tdow amounts related to the Pastor and Assoaale Pastor who ¥e Office Holders, as ￿miitted by the CIO CoTrslitution. 2024 ERS Nl 2023 ERS Nl Stipond Pgnslon BènefrtS In Kind £000 pend Pgnslon Benefits In Kind £000 £000 36 27 £000 £000 £000 35 27 62 £000 Nigel Butcher Christopher Fry 10 11 No empk)y8e or offKe hdder rtt&veil ov8r£60,IJX) erndurnents. No employee or off￿9 holder rti%ved a redundancy or temiination payment in the CU￿￿1 or preceding year. The numLEr ofoffice HokJeTS, plus empkJyee5, was 712023.. 7), plus10 Pre-schcd ern￿OYeeS(2O23'. 111. 9 Actlvltleg Unrtstrided funds £000 Designatod nds £000 Restricted funds 2024 2023 P￿schcH)I (Note 148 Sr*cified Grants (Note 981 Ukrainelmoldova Adult activities Youth actiwb'es FIEC Membethip Worship 11 35 11 10 10 13 32 59 51 (al Grants frorn Rostricted Funds- Sp0cln9d Boneficlarfos 2024 £000 10 10 11 2023 £000 Campbdl, Darren & Rulhie ISIMI Greenwood, Luke & Ania (Sl&gerl Slessengor, Mark Imessage Trustl Vari¢JJs CBC MissK)naries Zyrianova, Math)ew & Vika Isteigerl Various soaeties Hardship 35 CHEAM BAPTIST CHURCH Unaudited Report and FiTrancial Statements for the year ended 31 December 2024 10 MisslontNFsslonary Support Grants Unrethcted Funds 2024 RgStrlLtsd Funds 2024 2024 2023 2023 2023 £000 Indlvlduals Campbdl, Da￿en & Ruth￿ ISIMI Gfeenwood, Philip & Jan (Labn Linkl ¢>eenwoLKS, Luke & Ania ISteKJerl e55enger, Mark (Message Tfust) Zyrianova, Matthew & Vik8 IStewJerl Various £000 29 £000 28 28 24 15 24 18 24 15 24 18 74 74 UK Chrijtlan Mini8trl Re￿ South &Jtton-&hools W(KkjCc￿MunIty Works Release InlemationallLCM Other UK Churches Olher 20 92 11 Flxed for CharFty Us• Frnohold Land and Propgrty Loawhold Buildings Equipmont 1Furn￿Ule Total £000 1,097 Éooo 1,901 Cost al1 Jan 2024 Additi¢￿$ Dispos￿$ At 31 Dac 2024 679 125 679 1,097 125 1,901 A￿MUlated dewation al 1 Jan 2024 Charye for year DisrK)salg At 31 Dec 2024 13 81 15 16 14 110 Nét bookvaluo At 31 Dec 2024 679 1.791 Al 31 Oec 2023 679 1,807 12 Debtors and prepayments 2024 2023 £000 21 In¢ome Tax R￿Verable Debtors & PrepaYm￿ts 17 22 13 Llabllltigs falling du• wthln on• year 2024 £oc#) 15 19 2023 Acuuals Advan￿ Receipts 14 19 15 CHEAM BAPTIST CHURCH Unaudlted Report and Financial Statements for the year ended 31 Doc0m￿r 2024 14 R￿tr1ded funds 2024 Balance at ol￿an.24 Incomg Expgnditure Transfer8 IN6tI Balan¢9 at 31.Dec.24 £000 181 33 120 £oNJ 11471 1331 1391 12191 Departments lind Pre-school). Missionary Swified Benefioaries Sp8ified Benefi(xaries 1151 1201 1351 62 146 2023 8alan¢e at 01.Jan.23 £000 52 Income Expendlture Transfg (Neti £000 Balance at 31.Dgc.23 £000 £000 150 £000 11271 Deparfments lind Pre-schcKsll' Workl Mission General Missionary Specified Benefic4aries Specified Benefioaiies 161 1241 11581 1281 1381 59 Dèpartmgnts- ¢(￿$011dated departsnentsl fvnds, a large propxtion ¢)f which is thbulable to Pr￿th0o1. During 2024 Preryschool ￿￿1XIled £15,00012023. £10,000) towards th￿r preMIse￿Utilltr'eS1SeryIc$s costs. World Mlssion Ggneral- fr)r r￿1p1 and distribub.on lal Workl Mission Partners. discretionl of gerera gifts donatK)Trs giv8n for Workj Mkssion ich have not been designated for a speofic missionary or mission organisation. Misslonary Spocifiqd 8gngficiaries- for receipt 8nd disbursernenl of gifts for ¢lesignated b￿efi￿ar1es, $upported by the Church and in￿1v￿￿ in Wortd Mis$KJn. Spècified Bgngficlarles Fund - for rec*ipl and disbursement of mi￿￿L2n￿)Us desvJnaled gits to swe118s, iThJiwduals undertaking Chur gjpported acb'vilies and rn1scdlan￿uS churth txojects. The transfer in the year retlects legacy allcration other church woi'ects undertaken a5 requested. lal Prev$¢hoDI The Churth operates a school for thldren apj 2 to 5 years. The in(x)rne and eyndilure oflhe Pre-g*od during 2024 i8 summarised trKkJw'. 2024 £000 22 153 2023 In¢ome Fees LB Sutton- Nursery Grant Other 29 116 177 147 Expendilure Stsff remuneration Ath'vits'eslOth8r 135 119 125 10 135 Contributs'￿ r8 premisesluti1ib.8slse￿l 15 Surpluslltlgfi¢itl for year 16 12 15 Ngt a55ets The folknwng tab￿ prov¢des an andysi8 oflhe nel aBsets by Fund as al 31 De￿Mber. 2024 Re8trlcted Flxed Assèts Othef Designated £000 General £000 £000 1.791 521 1341 Tangible Fixed Assets Current Assets Current ￿8￿1*1 Long-lenn Liabilities 1,791 168 1221 182 171 1121 146 f.791 182 159 2,278 16 CHEAM BAPTIST CHURCH Unauditsd Report and Financial Statements for the year ended 31 Decemb8r 2024 15 Not Ass9ts (c￿￿d} 2023 R￿trICtsd Fixgd Aysots Other Oeslgnated zo¢x) Gèneral Total £000 £000 £000 1,807 377 Tangib￿ Fixed Assets Current Ns8ets Cuwenl Liabilib'es L￿g.tem7 knatslities 1,807 164 121 145 1141 121 1,807 162 2,166 16 Unr95trl¢ted dosignatwl FUN18 2024 Balance at Exponditur• 01.Jan.24 £000 162 1,807 1,969 Transfers (Neti £000 Balan¢8 at 31.Dee.24 Fabric FrAed assets fund Total d9signaled fund$ 182 1,791 1.973 1161 1161 2023 Balancg at Expendlture 01.Jan.23 Transfw8 (Neti Bal4n¢• at 31.Dec.23 Fabr Fixed assets lund Totsl d￿1gnatsd funds 144 1.786 1,930 151 23 162 1,807 1,969 1221 61 Fabric Fund- an admini$trative fund lo allow fcf variations in expenditu￿ from year to year. This is for maintenanc*, security, Heallh & Safety, the Fire Ajarm s￿tern, d&oratKJn and refvthshm8nl ofth8 Church. Halls Manses. Flxed Ass•ts Fund Inote 111. Depr￿ation of £16,000 was expensed in 202412023.. £17,IXIOI and no ajditxsns were purthased in 2024120ZJ'. £38,IXK)I 17 Oporatlng Iwse commttments As at 31 Decomtw 2024 Ihe ¢hurth had wtst8nding ￿mmitm9nts br rninimurn lease payments, under wl-canc4Lab￿ leases, vthith fall due as fc41ows.' 2024 £000 2023 Due Mthin 1 year Due vithin 2-5 y Lea¥e expense fcf Ihe year 18 Rèlatqd party transaction$ SixTrustees and rdated parties(20￿.. 51 were reimfxjrsedexpenses lThJJrred on behafof Ihechurth. No expensesw8re paid on behdlofTrusle8s. Trustees waive ￿rt￿n ew8e5 incurred in perfoming their duties, most of wh￿h are srnall and Gannol easily be identified Ihospita car parking, statB)nery etcl. Twstees & ¥dated parbes m&Je personal pre-&ft AIJ donations to CBC of £69.CX]012023'. £74,￿0) dunng their time in office. £5.IJ)J12023'. £3.OQ)I was paNI to CES who empby Tntstee, Davld Hore. Two relatNe5 ofTnJstees were ernployed during the year. Theirtotsl employee t*nefits amunted to£64,OCN)12023.. £59,(K￿l One12023.' 21 other relative of Trustees ￿￿0VIded cleaning during Ihe year arrK)unb'ng to £1,(XiO12023.. £1,000). Another three12023.' 11 relatives pThided Pre. ¢)ol Assisknl servre5 during the year 8rnounting to £3,OLKI12023'. £3.(rfX)I. CBC SAJpport Gr￿ Church KKllington by fvnding the trèinlng as Pastor of Luke Comish, son of Nick Ccrfnish. 2024.. £2,00012023.' £4,(x)01. 17