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 sEPTEME1￿ER 2024
Thè trustees have 8dcptsd thè k¥OvtsKy￿ ofActhuntiNJ R8porbrYJ by Charibes.. Slatement of Recommgrd8d Practice
aFplic*l• to ¢haritss pwriTrJ their x£gxmts in ac0Nd￿rm￿thtr F¥w￿l81 StWKlw* •PF4i￿)k in the UK arnl
R•pubk oflTelaTrJ IFRS102) {effeuve 01 J￿Uary 2019).
Obl•dl¥M and Acll¥lllo8
The prf￿p￿ ctyectNe otlhè CINrch i8 the ofthe christi￿ faith actordiNJ to tha wirK4pks ofth& Baptist
ouwparts ofth8 7ArJrbJ.
Annual Carols by C￿dI¢lL•￿t cCAnm￿ty 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& Y￿kn fijntime 8ttho ￿nUal mI￿￿d Ifjllage F* in Ju
Pastoral support a5 POs¥fj)b for m￿be￿
Varied c*8ritsblo gNirvJ. actsvity and $￿tyt
R&3thar prayergroup JwtDIgS:
Regldar r[m￿C9r0uP ma8tirfj5
Monthty l&thr51yp meetsigs..
Quarterty rneetiThJs ofthe chwd)
tnrnte85 ha¥e ctsrw ￿7th th8ird(ity uththe 2011 CMrili6sAdto regard toswal 9uija￿ publ$￿￿ by
Charlty Comrffwon respectto b8n¢fiL
P￿￿d under miewthe CIO 8tdo1 ir￿￿￿0 of£74.85812tr23'. £81.￿) and rt￿1$¢d g surplus of
£S.815.12023: £30,429). The irK*Th arkj for2￿24 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 I￿ety Asult an cwatiryJ d&fntol4proximatdy £35.Q>J. 7*thich mty3ht ¢xrfinarity
te &ntic4pabJ lorthe 30 seF4￿ 2025. fdbhirvathe ¥Y￿￿of4 minlster*ilh elled frryn m
August 2024.
liabijth as at Ihat dat•. orthat total £16171812W23.' £164,￿￿) ffjpr¢S￿ts unresirlthj funds and £530.55412¢)23'.
£523.1491 represents fwncang CIO £17149112023: £172.491) rewe3entirwJ thè Churth ￿lI￿1￿j 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 do8￿n￿led re5efftsl *￿U￿S Wy be hald CIO shtyrtd bo suffiaentto t>>Vgr roulSne
eyyndilurn for a tsfAt l•ast three month8 toN￿r￿lIh a pro¥wI￿ fOrurw￿￿d oremrgancy •wendItt￿.
Ndonal￿, figurn Is 3ot*t £35.1JXI.
Unrwmctad eash at30 Sepknt¢r2ff24 £159.71r212023.' £161.￿7) wthkh15 in exc48$ ofthls figure.
Ho￿ver. 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 m*Jng8.
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 r￿ndpa1 iigks And urK*knnO•s hJ•nUfied are wjtltiti￿IlO￿lth ari81ng from operntirvJ tr
Church t￿lEd1r￿dI, from Ir4ury harm to u*YNbJuat8 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 c*wty numb•r. 1193261
prtndpal addr•
B•ptl•t Chwth H•1 15 N￿R0￿ 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 Ros*r*J 22 2￿23
8 E PL4lwd S•ugtory R*JnwJ 22 OrlL*or 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• Inde￿ndent Examlner to th8 Trustee8 of Mllford Baptst Church CIO
on tho a¢counts forth• year onded 30 S•ptsmbor 2024
Respoctlv• rn8pon8lbllltl•s of Tn￿te•* and Examlner
The CIO'S Trustees are reSp￿sIble 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 a￿Unts 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$1• of Indgptrndent oxamlnges ltstemont
My examlnalion was carried out In accordance general Directions glven by the Charty Commlsslon. An
examlnalion indudes a revlew of the accountlng records kept by Ihe CIO and a comparison of the accounts
presented y￿lh those records. It also includes conslderation of any unusual items or dlsclosures in th? ac¢ounis.
and seeking explanations from the trustees ooncemlng any suth matters. The procedures undertaken do not
provide all the evidence that would be required In on audit. and consequentty no oplnlon is given as to ￿ether the
aCcO￿ts present a Yrue and falrf view and the report is limited to those matters set out in th8 Statement below.
Ind9￿ndent examlnees ststement
In conneclton with my examlnation, no materlal matters hav¢ ¢thne to my attentbn which glves me cause to believe
that. in any materlal respeGt
' accounting records ￿tra not kept in accordanco vAth seclon 130 of the Charftles Act,. or
. the accounts do not accord vAth the aGGounltng records: or
. the acGounts do not comply wth the appllcable requir￿nentS concgming the form and content ol a¢count$ 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 y￿1h the examlnalon lo vknich attenllon should be drawn in
order to enable a proper under8tandlng of the a￿Ounts 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 G￿ra1 FWKI
UnrnthGi*d 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 the1ra￿￿nIS in attoAlan¢owlh Ihe Financlal Reportlng Slandard applicabia lThth8 UK
and RopublK ol Irelan(I IFRS 1021 (effect￿0 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>)$tMnvent￿rL
Inco
AJI Income Is r81*Jgnliod onco Ihe charity has enlttknignt lo tho frjfvai, theirr￿1pt is probabkn ind th? ?mounl
me8Bured rel￿￿ty.
Expendlturn
Llabilitk?s are reGognligd as wenditum and accounled foron an 8CW818 ba818 L8 a *al ar￿￿$try(l￿9
oblbdon to mako payynents tothird parti￿, k tswd)ablglh*s•tU*nent b8 tequkad and the amwnt of11
¢b￿a￿on un b8 maasured rnI￿bty.
Cbortobb gfft8 and otherger*rnl 8xpenditurts Ire acmuntsd fOr￿tt￿ pakl.
Loan Inleresi
Loan Irbtsresiis at*A)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 w￿ribUtionS forits mthlstsrlothe ￿p1￿1 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 bert*ft
plan. Thii $tr*me L8 a Mult1￿mp￿yeip8nSl0n stherne and it 1$ not p￿SEb19 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
8xr*ad the f•)St •twhlch It￿ gro hekl *ithln the fmoncial statom8nts.
Fixlw8s. fiting$ and equSpm8nt arecapil8&sed %there theirac4ulstltton ¢￿t h ¢onsldgred $ignTr*4nL
DoPrtd8Uon 1$ at onnuil ra¢e$ lowrilg off 8s88ts overthelr esumated usaful lrfe.
Fund Kcouniing
Unroslrtded fund5 (Sn b? li Kcordancswith the tharltsbla ￿the di$c¥obon oflhfj trus188S.
funds ontybo us¢d forp8rllculBr weslrKied puwwvAthln the obJed5 ofthg tharlty. •rf
wth8n sPodfi8d byth• dMoror*th8n funds 1*8¢d l¢¥8 partkular r051rict•d purpGBO.
Golng ¢on¢em
The trustees ar•¥absfKd thatth•m 1$ no malgrf1l unc8rtairAy r¢ggr¢(ngthe ¢hurcKs abilitylo continu? al a goui
¢oncwiloTat18ost monlh8 fmm the dale ofawrovaloffhesefl￿nthI 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
GIft￿d 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 comme￿1 for 8 monlhs12023.' 12 monthsl- Note 7
SteFping Slm NuT8ery makes ¢ontrfbulorffj towath pram[￿ costs as funds alkn¥- Nole 16
4 Mlnhlry ￿lts
2023
Mr￿eratorC03ts •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
U￿ts.ng aTrJ ￿irS
245
176
31.463
16.194
710
1125
638
1,021
1.014
R￿irS and rnaithw
CO￿¢1 tsx
4.4
1,951
ItbeeTh Olywwd by mlrkn a￿1 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
ErnFlo￿l pen8lon rg)ntribulKrf*
MAnw nmlrg
810
7.270
Dr R•¢trd Watoon w •pwJn￿l as tho Ctrts Iwn• MIn￿￿T￿1th offeL#fr￿Tr 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 r614v￿tPw*0d wM£952.
Yru•t•M' T•mun•rndon and •xp•nM•
DLtslro th• yw L Ltr*l8 w88 PAhJ £1.27512023: £WI lor w¥kn•. wovllod on •
Ir4mploy¢d b￿3 and In lull o>)Wiarth tmth th ￿u￿remarth oltrw CIO C4n￿(lUtIon.
A of QTT112023.' £1￿) ¥m to L Lthii in i•ycl ol l*rf¢& 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
¢I￿r¢h
639,387
750.lx
1518,538
1250.OCQ
Totsl S¢pknnbw2023
2.4s5,￿9
1280.OQ)
Th? Churth L4 b•neW l**4•cl lo trwt) oltr* Churo) Prnml#s th• Churth M•n8•,
Church fixlurns, 8quSprrth arn tr* hm roaU8th valu• ol any •VJn1kan￿.
tr￿1 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 m￿lc￿ B4>tistChurth CIO.
IoAns rwysbl• by mcrthty Instthkn￿ repaYm￿t madè in J¢ty 2￿￿4.
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 T￿al
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 F￿d reprewt the maiuty ofts CPwrch exPer￿th 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
1￿2.718 184.308
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. p￿￿oU￿ty as th8 B*pl$t Mlnl$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
topthor*ith 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$lOn0b￿ Income and employ8rs pay 6% of memb•r8' P•n8ionoblo Incom• Into
Indlvlduol arrthJnt8, whl¢h ar• operated and m8n8g8d on behalf tsfth• Panslon Trustse by Broadstono
Corp¢)rate Benefit8 Ltd. In Addloon, tho employgr p8y8 a furthor4% of P•n8lonqbl? Incomè to cover Death in SeThlc•
B•n0flts, 8dmlnls1r8￿0n costs. •nd •n 1980dated In?uraneg pollcy*thlch provld¢$ 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 volual*on 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.vAIUA￿0n ofth• DB Plan wlthln tho SCI*￿ wa$ du• not later Ih•n as at 310•c4mter2022. Hcwmvor, th•
DB PIAn18 to be wound up. ar*J 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)ntr￿JU￿On5 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 ¢Ontrtbu￿On5 from chur¢hu and other•rn￿OYers Invow In tho DB
Plan. Foll￿n9 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 Ba￿81 Pon8lon Sthmo slgned an #gro￿ent tho Ingur&nc• oynparyJuBt Group I'JugV'I to
8e¢ur• DB Plan rnemb•rn' penslon b9nefit& Ju81 are now provldSng financial boc*lng lor all ￿mi9n> pro￿ded through
tho Sch*M'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 part￿p•Ing ern￿Oyar in th8 D8 Plan
roduced to £1 per month from Aug￿1 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
Conflnb*rtll•blllty. Cwatton Event
Prf¢r toAugust 2024, $lne* tho Church had no employ4e mamterB ol Ihe Sc*èmo Itwas subjact lo a ¢0$sgNon evènt
under 80clon 75 Of1￿ P8nsSoM Act 1995 •NI was pOten￿RIlY liable foT ts proportlon ofthe dèfidt applichblo to
tts previous mlnl8lers ￿Te mernbgrs ofth8 scheme, F>TWOUgly 0$￿Sed at £47.71XI. On 04 Febru8ry 2024 the
Churth slgned o Dèf•rr•d Dabl Agrepm¥nl ￿th Baplgt Pe￿iOnS whkh doforgd Indefirttt•ty p8ym8nt ol ary C￿9¢tion
118bllity. Subsequentty. 08 8 ¢onsequenco of tro agr88m8Tht with Just Group. thg •llmlnatlon ot the Sth•mo defidt and
IM tommenc•m8nt olthe ￿ndIntrup oftho Sthome DB Plan. all member thur¢h•s %w*re rehased Irryn 8ny c•ssatJan
c0mmitrn8rtt￿th •ff8ct Irorn 31 lJ¢tober 2024. Cessauon event Q3mpl&xW•s hwe rknv fallan Away And thore 1$ no
longerany requiremonl lo managa a c488#ti￿ •v•nt •hould the Ch￿h cwè to have any xbv• mgmt¢rB
Sch•m8's DC Plan.

ILFORD BAPTLST CHURCH CIO
F5NANCIAL STATEMENTS
YEAR ENDED 30 SEPTEMEMBER 20
13
Tn￿tee 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 Stor￿3 op¥ates frcffl tho Churth wis0$￿ thJrwJ ts >wr m*Jo contrknthions of £N￿l2023.. £N￿j tv*Jr
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)er2￿r 2024 attho end oflhe AuttThn tami and cea￿j all operation&
Tho ￿8t(￿lan Tntsiee Churth is B¥ltsl ltsity rKrnl)sr24983SI 7Athith"
¢￿tre￿ bythe Baptst ¢rAY￿?1. Churth is th) a Tr￿ber L*thg Baptist Unton of Gr8at Britsin, •ndthg
I bwts9s memtef5 ofhthifryd BaptlstCtr•Mth CK) m•ke $wJrllfi¢¥rt ¢(ffitbJtsr￿ to the C￿rth throughout th& year.
Church members.