MILFORD BAPT18T CHURCH CIO Raglstsr8d Charfty number 1193261 REPORT OF THE TRUSTEES & FINANCIAL STATEMENT8 YEAR ENDED 30 SEPTEMBER 2024
MILFORD BAPTIST CHURCH CIO REPORT OF THE TRUSTEES & FINANCIAL STATEMENTS YEAR ENDED 30 SEPTEMEMBER 2024 COMTENTS Report o1th6 trustees Report of th• Ind¢p¢ndenl Examlner ststement of Flnanclal AcllvStte8 Balanc• Shoot Not•8 to th• Fln•n¢lal Stalem•nl8 8-13
MILFOIID BAvllsT CHURCH CIO REPORT OF THE TRUSTEES YEAR ENDED 30 sEPTEME1ER 2024 Thè trustees have 8dcptsd thè k¥OvtsKy ofActhuntiNJ R8porbrYJ by Charibes.. Slatement of Recommgrd8d Practice aFplicl• to ¢haritss pwriTrJ their x£gxmts in ac0Ndrmthtr F¥wl81 StWKlw •PF4i)k in the UK arnl R•pubk oflTelaTrJ IFRS102) {effeuve 01 JUary 2019). Obl•dl¥M and Acll¥lllo8 The prfp ctyectNe otlhè CINrch i8 the ofthe christi faith actordiNJ to tha wirK4pks ofth& Baptist ouwparts ofth8 7ArJrbJ. Annual Carols by CdI¢lL•t cCAnmty seMr at Christhas: Regul¥ van8d youth woup MOeti)$ arnl actfvkn for all age 9rrAV5 frtyn 8. 18.. Residential thp to SprirKJ Har¥estat Minehead for JwrfJ ts•n J•uvw'. Regular'famty ev8nts at Easler, Cl¥istiTW •bJ surmner. Famity& Ykn fijntime 8ttho nUal mId Ifjllage F in Ju Pastoral support a5 POs¥fj)b for mbe Varied c8ritsblo gNirvJ. actsvity and $tyt R&3thar prayergroup JwtDIgS: Regldar r[mC9r0uP ma8tirfj5 Monthty l&thr51yp meetsigs.. Quarterty rneetiThJs ofthe chwd) tnrnte85 ha¥e ctsrw 7th th8ird(ity uththe 2011 CMrili6sAdto regard toswal 9uija publ$ by Charlty Comrffwon respectto b8n¢fiL Pd under miewthe CIO 8tdo1 ir0 of£74.85812tr23'. £81.) and rt1$¢d g surplus of £S.815.12023: £30,429). The irKTh arkj for224 and 2023 shxdd dua to th8 absenco of • sident rnini¥tsr oftho manse thrw oltr )w. Thg annual cost of a minist•r aThJ no manse lertal incoTh mora Iety Asult an cwatiryJ d&fntol4proximatdy £35.Q>J. 7thich mty3ht ¢xrfinarity te &ntic4pabJ lorthe 30 seF4 2025. fdbhirvathe ¥Yof4 minlsterilh elled frryn m August 2024. liabijth as at Ihat dat•. orthat total £16171812W23.' £164,) ffjpr¢Sts unresirlthj funds and £530.55412¢)23'. £523.1491 represents fwncang CIO £17149112023: £172.491) rewe3entirwJ thè Churth lI1j and Full detsils of al inoyng weThJibJrn arisiThJ duriry ar*J the poshbryb Of thg CIO at 30 Septwnber
MLFORD WTIST CHURCH CK) REPORT OF THE TRUSTEES {wthu•d) YEAR ENDED 30 SEPTEMEIIBER 2024 RMwv•s poHcy The Truste85 detwmfirnd th8 mirimLKn l•vd ofgwwal ltr•t Is that availabkn, •xdtsdlrvJ arkl do8nled re5efftsl US Wy be hald CIO shtyrtd bo suffiaentto t>>Vgr roulSne eyyndilurn for a tsfAt l•ast three month8 toNrlIh a pro¥wI fOrurwd oremrgancy •wendItt. Ndonal, figurn Is 3ott £35.1JXI. Unrwmctad eash at30 Sepknt¢r2ff24 £159.71r212023.' £161.7) wthkh15 in exc48$ ofthls figure. Hover. Iho CIMw¢ hats (hllxratdy orderlo th8 apwnlmwrtof• lull Iwne m(nW l¢r th• mwllum taffli. Tho Chur¢h h8$ op•rat•J as a Charltrtdè li (CIO) slnca 10 Nownbar 2021. Charlty Commbssion. Manayment Li re3pcnsib&ty oflh• Tnmkes el8Cted by th• Churth mw))tership d¥1 mJng8. Th• tr1otO01 h•v• tr n¢pOl tsk8 trj lach th• CIO Is •)pog•d wbj •r• Mtsft•d trwt •yknM$ •r• In to mlttgats these ths. Thè rndpa1 iigks And urKknnO•s hJ•nUfied are wjtltitiIlOlth ari81ng from operntirvJ tr Church tlEd1rdI, from Ir4ury harm to uYNbJuat8 In¥d¥•J in th8 vathyA CIKu¢h and finBndal d$k from •¥wndlWrn •xcedlng Inccrn• thé18. Thwe risks aro by polk wyl wrf4<luw In 8c, IMur•)r R•fvr•Th Ind AthIn1•t1¥• D•lal Chorty nam•: Mllford Baplfgl cfuth R•pi¢red cwty numb•r. 1193261 prtndpal addr• B•ptl•t Chwth H•1 15 NR0 kl¥tyd. God•k, GU8 5BE M Cknlord A Kellthl Avpolnbd 22 Odct•r2ff21 M•y 2024 L L•AIs Rwpoknbj 27 Orttthr 2024 l L 22 OdoLw2ff23 D R Lucu RosrJ 22 223 8 E PL4lwd S•ugtory RJnwJ 22 OrlLor 2023 Mlnlthr. Bankw8.' CAF 8ar* Lhnlknl 25 HIlA. lary IAknt MdiNJ, ME19 4JQ Éstsn Se
MILFORD BAPTIST CHURCH CIO REPORT OF THE INDEPENDENT EXAPIINER TO THE TRUSTEES YEAR ENDED 30 8EPTEMEMBER 2024 R•port of th• Indendent Examlner to th8 Trustee8 of Mllford Baptst Church CIO on tho a¢counts forth• year onded 30 S•ptsmbor 2024 Respoctlv• rn8pon8lbllltl•s of Tnte•* and Examlner The CIO'S Trustees are reSpsIble for the preparation of t accout)ts under the requirements of the Charitie8 Act 2011 (the Charlues Act). The CIO'S trustees consider thal an audit 1$ not reqLdred for this year urrfler secllon 144 of the ChariU88 Act and that an Independent examlnal¢on i¥ needed. It Is my responsibllty to: * examlne the aUnts under secllon 145 ofthe Charibes Act,. . to followthe procedures latd dovm in the general Dlrections given by the Charity Commlssion (und8r sec1ion 145(51(bl of the Charli¢es ACL ar . to slate %thether particular matters have Gome to my atterthon. Ba$1• of Indgptrndent oxamlnges ltstemont My examlnalion was carried out In accordance general Directions glven by the Charty Commlsslon. An examlnalion indudes a revlew of the accountlng records kept by Ihe CIO and a comparison of the accounts presented ylh those records. It also includes conslderation of any unusual items or dlsclosures in th? ac¢ounis. and seeking explanations from the trustees ooncemlng any suth matters. The procedures undertaken do not provide all the evidence that would be required In on audit. and consequentty no oplnlon is given as to ether the aCcOts present a Yrue and falrf view and the report is limited to those matters set out in th8 Statement below. Ind9ndent examlnees ststement In conneclton with my examlnation, no materlal matters hav¢ ¢thne to my attentbn which glves me cause to believe that. in any materlal respeGt ' accounting records tra not kept in accordanco vAth seclon 130 of the Charftles Act,. or . the accounts do not accord vAth the aGGounltng records: or . the acGounts do not comply wth the appllcable requirnentS concgming the form and content ol a¢count$ sel out In the Charities (Account8 and Reports) Regulattons 2008 other than any rgquirement that the accounts glve a Irue and fair vlevl whlch Is not a matter nSIdered as part olan Independent examinatton. I have come a¢ro88 no other matters in conneclion y1h the examlnalon lo vknich attenllon should be drawn in order to enable a proper under8tandlng of the aOunts to be reached. Signed by or on béhalfof the Examiner p? P J Lucas FCGA Luw&Co Chartered Cerlified Accountants 11 Church Street, Godalmlng, Surrey, GU7 1EQ Date: 202S
MILFORD BAPYIST CHURCH CIO FINANCIAL STATEMENTS YEAR ENDED 30 SEPTEMEMBER 2024 8TATEMEiif OF FINANCIAL ACTMTIES 2024 2023 Total fund• Unro¥trlct•d nd• Charllabh Incom• Donattons and gSft8 Charltsble Bank Intsre¥l r¢cefvab 53.886 16.714 4,058 57.951 21,739 2.173 16.714 Totsl 74.6S8 74658 81.863 Charltabl• Exp•ndltur• Mknlsty costs Admlnl$tralon cos Eitabli¥hment co•ts Manse costs Charllable gmng 22258 21268 1,9n 31A13 4A94 8,651 12,811 2,503 10.194 1,951 17,976 31.463 4.494 8,661 Totsl 68.843 68.84J 51,434 N•1 •Urplu(dofictt) 6.815 5,116 30.429 Oth•r movoment• N•t mov•m•nt In fund• 5.815 6,815 30,429 R•conclllatlon of ftmd• Totsl fiJnd8 brought lorw*d Not movement In fifftd• 13 687.457 687.4S7 5,815 5,81S 657.028 30.429 Total funds carf•il fovAwd 693.272 693,272 887.457
MILFORD BAPTIST CHURCH CIO F114ANCIAL STATEMENTS YEAR ENDED 30 SEPTEfiEIIBER 2tr24 2024 202$ 10 Curr•ntu••ts Otbtors 11 3.976 159.702 183.67 4.279 161,607 165,886 Amounts tslln9 du• Thlthln OM y•Ar 8,9831 N•t ¢urrwrt••••ts 161718 156, Totsl ••••ts l••• ¢uN•ntll•blllll•• e83,2T2 887.457 Cr•dttor• Amounts du• ltsr mtx• th•n y• Il•tA•••l• Fwid Unrnslrfdod Gra1 FWKI UnrnthGid BuLkllr41 Fw 13 13 161718 184,308 523.149 Totsl lund• E 8l•nto g.%VL oq rdky. 2025
hlLFORD BAPTIST CHURCH CIO FINANCIALSTATEMENTS YEAR ENDED 30 SEPTEMEMBER 2024 NQTES TO THE FINANCIAL STATUIENT5 1. A¢¢ounUno Polth• Bash olPrgparntlon Th&finanual stat¢mwts oflhe charity,lth ffd 8 bonofrt ertity wthrFRS102. have been prepared In acemlane th tho Chariti88 SORP (FRS102)'Accounling And Reportlng by CharEhes St8temgrt of Recommended Prad applkable to th8rits88 prewring the1ranIS in attoAlan¢owlh Ihe Financlal Reportlng Slandard applicabia lThth8 UK and RopublK ol Irelan(I IFRS 1021 (effect0 01 January 20191., Flnonc¢al Reporting Stand4rf 102 The Finandal Repothg StBnd8rd ap¥ in Ihe UK and Republic of IrelanrfAnd the CharWg5 Ac12011. finand81 slatemofits how b88n prepred undorthe hlsiorical L>)$tMnventrL Inco AJI Income Is r81Jgnliod onco Ihe charity has enlttknignt lo tho frjfvai, theirr1pt is probabkn ind th? ?mounl me8Bured relty. Expendlturn Llabilitk?s are reGognligd as wenditum and accounled foron an 8CW818 ba818 L8 a al ar$try(l9 oblbdon to mako payynents tothird parti, k tswd)ablglhs•tUnent b8 tequkad and the amwnt of11 ¢baon un b8 maasured rnIbty. Cbortobb gfft8 and othergerrnl 8xpenditurts Ire acmuntsd fOrtt pakl. Loan Inleresi Loan Irbtsresiis atA)unted forowrthe lem of Ihd•bt uslTrJ the effectrwe interest mathod 80 Ihalthè 8mount¢harpd18 at • wistant ral8 on th•rryIng amourt of Ihe debt redutxj owrtlmo. P•nslon ¢osts The Churth ptyJ wribUtionS forits mthlstsrlothe p11 Penthn S¢h8me. whKh 1$ n•tMThtracled outlor Stale Penslon purpD5èS. Thk8 L8 o dafined conlrfbution s(em¢ and payments are accounled for in th• >arto thich Ihey L. The Chwth alao pays d•fi¢il¢onln"bulion8 to th& Bapti8t Penslon Scheme in rn$pea of Its closed defined bertft plan. Thii $trme L8 a Mult1mpyeip8nSl0n stherne and it 1$ not pSEb19 to hl8ntfyth• assets and IK8bitili•$ 01th8 $¢hemgwhich am ailributab]g lo Ihe Chureh. In xurdaftca wAh ts SORP IFRS 1021 the sckne is IheT¢for¢ axountsd for 85 8 defined conlrfoutlon 3d. Furtherdetsll8 are sel in th• notes ¢0 Ihg finanddl statemgnls. Tautlon The exernptfrom tax¢Jn its ch•r61ablg ¥11. Tanglblè Flx8d a880ts ToTrJfol? assets ¢omprfse Ihe church buikNngg an¢ Ihe m8fbS8 8Th18re ¢wled 8thlstoAccosL Deprndallon 1$ nol provided as the Ino188s considarthatthe current mrkat valueofthesg prokwtiesswmlsantty 8xrad the f•)St •twhlch It gro hekl ithln the fmoncial statom8nts. Fixlw8s. fiting$ and equSpm8nt arecapil8&sed %there theirac4ulstltton ¢t h ¢onsldgred $ignTr4nL DoPrtd8Uon 1$ at onnuil ra¢e$ lowrilg off 8s88ts overthelr esumated usaful lrfe. Fund Kcouniing Unroslrtded fund5 (Sn b? li Kcordancswith the tharltsbla the di$c¥obon oflhfj trus188S. funds ontybo us¢d forp8rllculBr weslrKied puwwvAthln the obJed5 ofthg tharlty. •rf wth8n sPodfi8d byth• dMororth8n funds 18¢d l¢¥8 partkular r051rict•d purpGBO. Golng ¢on¢em The trustees ar•¥absfKd thatth•m 1$ no malgrf1l unc8rtairAy r¢ggr¢(ngthe ¢hurcKs abilitylo continu? al a goui ¢oncwiloTat18ost monlh8 fmm the dale ofawrovaloffheseflnthI J1¥t8m¢. AccordlrwJtytsfin8ntsal Statem$ have prepared onth•golog concem bash.
AIILFORD BAPTIST CHURCH CKI HNANCIAL STATEMENTS YEAR ENDED 30 SEPTEMEMBER 2024 NOTES TO THE FINANCIALSTATEMENTS 2 Inconw from donallon• and gffta 2024 2023 Oonations and gwts GIftd ra¢rabl0 45.380 8.SC6 53,886 57,951 3 kneom• from charltabla actkthle8 2024 2023 Manse rental in¢im8 16,714 21.739 16,714 21,739 The M8na• waslot lo privato tsnants comme1 for 8 monlhs12023.' 12 monthsl- Note 7 SteFping Slm NuT8ery makes ¢ontrfbulorffj towath pram[ costs as funds alkn¥- Nole 16 4 Mlnhlry lts 2023 MreratorC03ts •nd èxp8nses Ministerstipond and eynses General ministycosts and tr*nl¢vJ OLttr8gch and developm Youth citsts Owwrgroups and r980urtsg 4,823 6,460 3.110 2.078 3,S94 2.193 3,3S2 Nots9 2.138 3,841 22.258 12.811 6 AdmlnlstratEon ¢08ts P05tw, plnting and stslpJnary Telephone 8nd broadband Goneral expen$&s Independent Examlner fees Bank tharges 71 716 650 490 371 1,977
MILFORO BAPTIST CHURCH CIO YEAR ENDED 30 SEPTEhEMBER 2trI4 6 E•tabll¥hm•nt ¢•*ts 2023 19.399 Uts.ng aTrJ irS 245 176 31.463 16.194 710 1125 638 1,021 1.014 RirS and rnaithw CO¢1 tsx 4.4 1,951 ItbeeTh Olywwd by mlrkn a1 frrxn Auwst21Y24 Not• 16 11,5CKI N¢kn 16 875 2.175 8.651 17.975
MILFORO BAPTIST CHURCH CIO FINANCIAL 8TATEMEpirs YEAR ENDEO 30 SEPTEklWER 2024 202? Mlntst•r•tlpend and •xp•nM• Minister ¥Vpend ErnFlol pen8lon rg)ntribulKrf MAnw nmlrg 810 7.270 Dr R•¢trd Watoon w •pwJnl as tho Ctrts Iwn• MInT1th offeL#frTr 15 Awt 2024 A n¢fr¥pArth• part ol tho ol ts mtrlster18 to o¢t u Chalrof Tntst ofth• Clwrc A pw¢ Of1 mlnhW8 o¥•r•ll Ni ts Frfovublon of actrJnmod•lon t bwofftot that accommodoJM the r614vtPw0d wM£952. Yru•t•M' T•mun•rndon and •xp•nM• DLtslro th• yw L Ltrl8 w88 PAhJ £1.27512023: £WI lor w¥kn•. wovllod on • Ir4mploy¢d b3 and In lull o>)Wiarth tmth th uremarth oltrw CIO C4n(lUtIon. A of QTT112023.' £1) ¥m to L Lthii in i•ycl ol lrf¢& rnatrth) A of£1.14112023.' £rn) lotrm12tr23'. 1¢) In rnyctof
MILFORD BAPTtsT CHURCH CIO FINANCIAL 8TATEMEiirs YEAR ENDED 30 SEPTEMEIABER 2024 10 NOTES TO DE FIlIANa STATEIIEMT3 10 T•nglblo Flx•d A••ots Hl•tw rn•rt•tv•lue ortgSnal sar E¥t•n8b)ft 38.107 134.384 17 1,879.151 1,5Q).OC ¢Ir¢h 639,387 750.lx 1518,538 1250.OCQ Totsl S¢pknnbw2023 2.4s5,9 1280.OQ) Th? Churth L4 b•neW l4•cl lo trwt) oltr Churo) Prnml#s th• Churth M•n8•, Church fixlurns, 8quSprrth arn tr hm roaU8th valu• ol any •VJn1kan. tr1 hed •n IMur•d rnptAc*m•nt v•1• •130 Septwnb•r 2024 01£83.222130 S•b•r 2023.. £81,193). 11 D•btorn 3,976 4,279 3.976 4.279 12 ¢rndltor• MrAtyaqo lo• 7.405 1,578 cc1poralt Umitod. hÈ&l on tdiallol mlc B4>tistChurth CIO. IoAns rwysbl• by mcrthty Instthkn repaYmt madè in J¢ty 24. Al 4 irrterest rnto was 8.74%12urJ'. 8.74%113.4VA over Ba Rat•).
MILFORD BApnsT CHURCH CK) FINAI4CIALSTATEMEpirs 11 Unyestrlcted Unvestrlcl•d R•strlcted Tal ds fvnds Fund Fund Total tunds 8t01 Ottot 141418 ).429 18.539) 514.610 657.028 Trnnsfer tel T¢)tal fund¥ 4130 Soptrmber 2023 Net movement li ftmd$. 20W24 164. S.815 523.149 5.815 T¢A•l fund• 4130 Sept•mbor 2 181718 530.554 693.272 The Unreslrfcted General Fd reprewt the maiuty ofts CPwrch exPerth ar funds) at a levd ww81 lo the netbc¢)k vah oftho thurth wuses thurth mwse lets U 2023 Unrestrlct¢d General Fund Gffthid tax re¢ow 3.978 4.279 159.702 161,607 1.578 12.718 184.308 Ctsjrch premu8es 172,491 172.491 S30.554 523,149
hlLFORD BAPTIST CHURCH CIO FINANCIAL STATEMENTS YEAR ENDED 30 SEPTEMEMBER 2024 12 NOTES TO THE FINANCIAL 8TATEMENTS 15 P•n8lon• The Churth Lg a parldpattr¥ amploy•rln the Bapllst Penthn Sth8m• fth• S¢h8m•), 4 $8porats legRI adminlstsr&J by thè Penslon TNsts• IBapli$l Pension Tru¥l Umltad). Th• wsets oftho Sehem8 ar• held syfately from th09• of.th8 Employer tho oth•T partidpab'ng P10yerS. Tho Scheme. poUty as th8 Bpl$t Mlnl$t8rn' Pension FuThJ, 8tsrt¢d In 192S, bLrtwu dos•d to firture o¢¢nwl oldefined bon•fits ¢)n 3108camter 2011. Prlor to th18 date tho maln nefft provldtd through the Defined B•rofft IDB) Plan w•8 a p8nslon olone •¢ghloth of the flnal minlmum panslonable Incorne for y8ar of penslon8bl8 SelVIC8 topthorith addittonal F4n$lon In reapeL of premlwn$ pold on Pensionablg Incomg In ex(w of Mlnlmum Pen8lonth Incomo. Frfym J•nu•ry2012. peMlon provlglon 18 bolng made Ihrwh tho Oaflnod Cothbutton {DCI PLon hlthln thtr Sch•m•. In ganeral, rnemtérs pay 8% olthelr P•n$lOn0b Income and employ8rs pay 6% of memb•r8' P•n8ionoblo Incom• Into Indlvlduol arrthJnt8, whl¢h ar• operated and m8n8g8d on behalf tsfth• Panslon Trustse by Broadstono Corp¢)rate Benefit8 Ltd. In Addloon, tho employgr p8y8 a furthor4% of P•n8lonqbl? Incomè to cover Death in SeThlc• B•n0flts, 8dmlnls1r80n costs. •nd •n 1980dated In?uraneg pollcythlch provld¢$ Income proteclon for Schem• member¥ Ilthey ur• unabla to work du• lo long-t•rm Incop8dty. Th18 In¢4mo proladon polluy h88 been In•wed by tho B•pU8t Llnlon of Gr••t Brftaln lth Avfva LlmRod. Th• Mlnl8 l• •ltglb• tol¢6n tho S¢hwM. A tom#1 volualon of tho OB Plan 0$ at 31 December 2019 w•8 ¢8rrlod out by * prof•$8lonAlly quallffed A¢tU•ry U81ng tho Prol8cted Unlt Mothod. Al th• valuailon datè the m8rk•t valu8 of tho DB Pl8n was £298 mllllon, whllstlhe 18vo1 of awts needed lo pay b•n8fft¥ w48 £318m, givlng • d9fidl of£18rn lequlvalenl to a past 88Nk fvndlng levd of 94%). Iho Church Ind th• Othor particlp•Ung emplwrn In tho DB Plon ore coll•eUwty reJpon$lblg for fundSng Ihl$ doflcL Th• noxt •th•rf•l.vAIUA0n ofth• DB Plan wlthln tho SCI wa$ du• not later Ih•n as at 310•c4mter2022. Hcwmvor, th• DB PIAn18 to be wound up. arJ Ihe proc481 lo vlnd11 up 8tsrt•J th eff•¢t from 31 Marth 2024 and Ihwoforn no lomial valuabon 1$ nowdue to lako plgC•. In •ddltlon to tho 0)ntrJUOn5 to th& DC Plan 88t out Ibov&, where • v•luaUon oltm DB Plon rnveals • d¥lcll thè Truit8• th• Counc51 agreo to a rate ofdgfldew ¢OntrtbuOn5 from chur¢hu and other•rnOYers Invow In tho DB Plan. Folln9 the 2019 v•lu•tlon * Reo)v•ry Plan w •n8d In Septembw 2020 wmlorwhkh ¢othbulon$ wer• payobt• unUI 2028. On 30 June 2022 th8 Ba81 Pon8lon Sthmo slgned an #groent tho Ingur&nc• oynparyJuBt Group I'JugV'I to 8e¢ur• DB Plan rnemb•rn' penslon b9nefit& Ju81 are now provldSng financial boclng lor all mi9n> proded through tho SchM'ts Dg Plan aThd. lollrpllnq Ihl8 Ir8ngacUon. Schemo no loryr haB 8 shortlall. An updat•d Rocovgry plan W88 thon 8ton•d In Augu812022 und•r ¥thlch recov•ryc¥DtrlbuUons from •ach partp•Ing ernOyar in th8 D8 Plan roduced to £1 per month from Aug1 2022. cnntrlbuuons c•88 In Nov8rnber 2024, 8$ th• scttome w¥$ no lowr In defldl Th• outstanding d•ftdeney contrftrthon$ duo under tho Recovery Plan up lo Novernber 2024 Arn not C4)nBld•rod rnater1 •nd thgr•fm hav• not boon In¢lud8d vAlhln th• b8lanM gh•oL Conflnbrtll•blllty. Cwatton Event Prf¢r toAugust 2024, $lne tho Church had no employ4e mamterB ol Ihe Scèmo Itwas subjact lo a ¢0$sgNon evènt under 80clon 75 Of1 P8nsSoM Act 1995 •NI was pOtenRIlY liable foT ts proportlon ofthe dèfidt applichblo to tts previous mlnl8lers Te mernbgrs ofth8 scheme, F>TWOUgly 0$Sed at £47.71XI. On 04 Febru8ry 2024 the Churth slgned o Dèf•rr•d Dabl Agrepm¥nl th Baplgt PeiOnS whkh doforgd Indefirttt•ty p8ym8nt ol ary C9¢tion 118bllity. Subsequentty. 08 8 ¢onsequenco of tro agr88m8Tht with Just Group. thg •llmlnatlon ot the Sth•mo defidt and IM tommenc•m8nt olthe ndIntrup oftho Sthome DB Plan. all member thur¢h•s %w*re rehased Irryn 8ny c•ssatJan c0mmitrn8rttth •ff8ct Irorn 31 lJ¢tober 2024. Cessauon event Q3mpl&xW•s hwe rknv fallan Away And thore 1$ no longerany requiremonl lo managa a c488#ti •v•nt •hould the Chh cwè to have any xbv• mgmt¢rB Sch•m8's DC Plan.
ILFORD BAPTLST CHURCH CIO F5NANCIAL STATEMENTS YEAR ENDED 30 SEPTEMEMBER 20 13 Tntee Peter HèrriTrJ 4YdS akn a ol MFA dwwvj the yw. Ofvrchurth mwnbprn also srn a¥ tru$te8s of MFA lune to tim DonatiL$ of£6,2CI) (2tY2l' £11.Sty)}wp maoo b) MFA tythp Chwth iknfr4J yax(Nots 8}. SteppirvJ Stor3 op¥ates frcffl tho Churth wis0$ thJrwJ ts >wr mJo contrknthions of £Nl2023.. £Nj tvJr premis¢s runni costs aThl ov¢rt•as INoi• 3). A speaal donatim of£NH (2023: £2,0) m¥lèto StIXEs Iry Church duriTrJ th? Jpor (Note 8}. Stepping Stones Nursary dos8d li t)er2r 2024 attho end oflhe AuttThn tami and ceaj all operation& Tho 8t(lan Tntsiee Churth is B¥ltsl ltsity rKrnl)sr24983SI 7Athith" ¢tre bythe Baptst ¢rAY?1. Churth is th) a Trber L*thg Baptist Unton of Gr8at Britsin, •ndthg I bwts9s memtef5 ofhthifryd BaptlstCtr•Mth CK) m•ke $wJrllfi¢¥rt ¢(ffitbJtsr to the Crth throughout th& year. Church members.