MILFORD BAPTIST CHURCH CIO Reglstered Charity numbor 1193261 REPORT OF THE TRUSTEES & FINANCIAL STATEMENTS YEAR ENDED 30 SEPTEMBER 2026
MILFORD BAPTIST CHURCH CIO REPORT OF THE TRUSTEES & FINANCIAL STATEMENTS YEAR ENDED 30 SEPTEMBER 2026 cowrENT8 Report of tho trustees Roport of th& Independent Examiner Stat8m8nt ol Flnancial A¢Jvi Balance Shaet Notes lo the Flnanclal Stslemen18 6-12
MILFORD BAPTIST CHURCH CIO REPORT OF THE TRUSTEES YEAR ENDED 30 SEPTEM8ER 2026 The Iruslee8 present thglrrgport and financlal slalemenls for the year ended 30 September 2025. Th8 Iruslees have adopted the provisions of A¢untIng and Reporting by Charftles.. Stslement of Rttommended Practl¢o 8ppllcabl& lo Charit$ preparing Ihalr accounts Sn acKordance vAih the Flnanryol Reportlng Stsndard appllt4ble In tho UK and Republlc of Irelan(I IFRS1021 l&ffeclive 01 January 2019). object1v and Actmtl The prfncApal objeclive of tho Church Is thè advancem•nl of the Chrlsllan fallh accordlng to tho prlnclple8 of th8 BapI51 d6nomSnalSon. Th8 Churth may al80 advancg 8ducAllon and carry oui other charltoblg pu086$ In the UnRod Klngdom and other parts of the World. Prfnclpal a¢tfvili8s during lh& p8dod ende(130 Seplembgr 202S includ8d the follon9. Wggkly se[CaS Includlng wor8hlp. prayer. bible Btudy. pre8chSng and Holy Communton., Regular and varfed homo group meetOng8 for blble study andlgamlng. prayer, fellowship and mutual 8UPPOrt,' Annual Carols by Candlglight ¢ommunSty seNtce al Chrislrna$- Regular 8nd varied youlh group meellngs and aGtlvllpB for all ag• groups from 8- 18.. Planning 8 rosldènlial trip lo Sprfng H8ry951 al Mlnehe8d for young legn 898 group In 2028,. Regular lodd18r group me8llngs provt(Ilng ¥odal contact and support for Ioc41 young mum8 and carw8 th Ihelr toddlers; R•gular'famlly frfendv events al Easter, Chrlslma8 and hlgh Summer.. F8mlly & youlh funtlme pllches al tho annu MSlfor(I Vlll•g• Fele In June., Pa8loral support as po8slbl• membor8 In n8ad', Varfed charflablo givlng. advlty and wpport; Varfed oulroach Inlllgli$ and a¢tlvlty: Regular pr8yèr group me8llngs'. R¢gular mu81c group megllng8 and wor8hlp: Monthly lfradershlp m88llng$- Quartgty m88Ung$ ol thè church m•mr$hIP. From Ilme lo Ilm•, 80me oltho abovo •¢thvlll88 wore conducied by wjy of rgmote. onllno mmlkng f8dlIal, subject lo nec8881ty or w4¢llc4Wty. Flnan¢bg1 ¥nd volunteor Support from twstee8, memb•rs and t vrtder congregallon •ro ¢ontral and crttl¢al lo th• ndPa1 aclMtl•¥. opernlton and achl•v•m•nl• ofthe Church. Th9 IruBl8e8 have o)mplled th thelr duty under th& 2011 Chgrlllos Act to hav• due regard lo genoral guldanc4 pl1131d ty th• Charity Commls8lon 1h r¢$p6ct to publlc benefit. Achhv•mgnts •nd porfomian¢• Th8 CIO pur3ued rt'8 Slated obAeotlvo8 Ihrough d8llv•ry 01118 prfndp41 actMIl•8. The Twslges are satlBfied th Ihg p8rfornance of tha CIO durfng th& perlod. Thfr new full Ilme mlnl$ler appolnlod In August 2024 has 8etlled In well durfng rfirst year. FIN1*1 r•vl•w Durlng the period undar revlew lh8 CIO generated a iolal Income of £86.19812024'. £74,658} and reallsed a 8urplu8 of £9.722.12024'. £5,815). However. the income and surplus for bolh 2025 and 2024 Should bg con$ldered atyplcal. Oun9 2025, excepOnsI Legacy income of £20,390 was r9ceived. togelherwlth £6,100 Other In¢omè whlth 58 unllk8ly lo ropeal. Durlng muGh of 2024 ther& was no rgsidenl mlnlslor and the manse was191 on mmerCIal terms. In o al with no exc•ptional In¢omg and full operaung expendllufg an ordlnary defidt In the region of £35.000 would be anlldpaled. Current 1ovo18 of MèNe8 would allowthrgo lo fouryear8 818uch defldt18vds. after whlth operallons woukl noed lo njn In surplus. AI 30 Saplomber 2025 thè CIO had lolal reserves carried fomard of£702.99412024.' £693.272) rapresenllng n81 assets & abllttlgs as ai that dale. Of that total £172.44012024'. £162.718} represents gener81 unrgstrlcied lund8 and £530.55412024- £530.5541 ropresents lunds flnanclng the CIO buildings, £172,491 (2024= £172,491) represenllng Ihe Church bulldlng and £358.06312024: £358,Cl repre$enYng th• Church fflan8e. Full delalls of all Inme and gxpendilure arising during thg Pgrf¢xl and the finanaal posillon of th• CIO al 30 Seplgmb8r 2025 are glven by the financial statements followlng th18 report whlch the Truslegs have approved.
MILFORD BAPTIST CHURCH CIO REPORT OF THE TRUSTEES l¢ontIm YEAR ENDED 30 SEPTEMBER 2025 Ro$¢rv•8 poIIcy The Trustees have dotem thg minvnum lerfel ofgewal resem8 Oh•t ks fLd$ that are fredy available. èxdudkng reslriclad and deslgnaled reseNesl Id idealty heh8 ty th? CIO aThJ should be suffioent to cover routtne expenthiure for a p81iod ofal least three IthS tcsetlw ith a provision fry uneNpeded or emeraency expenditure. Nolionally, this figure Is rrenty sel at £35.(VJO. Unr8strtct•d 18h balancas at 30 Septmr 2025 wo £168.n8 (2024: £159.71r2) Th1 L8 wel kn exces8 olthks flgure. Howèver, the Church has d8b•telY aCumUtd funds kn xderto fumy fund thè of• full lkne mlnthr for the medlum tmm. Structurn, 13ovornance al Man•g•m•nt The Church h98 operated as 8 Charitsble IrK0ratsd (CIO) 10 Novfjmbw 2021. Acllv6tlos and fflanagement oro govemod by a dtstalkd u)nsbtulton 1$ apkYov¢d by thg Bapllsl Vrdon and filed vith tho Chty Commlsslon. MarAg8ment Is th8 re$sIll1 of thè Trustees ttho ar• eleded by th• Churth MeMlShIP under lh• terns of thg ¢onstilulI. AJI maELV dwsiLVM aro Voted on ty Churth rnern eitmr at quarterty general meellngs or Th• tru81011 h4v8 ¢xn8td•rnd thg windpal rfsk8 10 th• CIO kn èxposed arnl are $8tisfied that appwrfats 8ytsm8 are FAaco lo mttlgale these rfsks. The n0PaI risks orÈd urtAIntkn klenthd ar• wtgnual lIalIe$ erfrtg from opefaling thg Churth bulldlngs. from Inlury and ham to Irrflividuals Invofved In th• vadws Churth actfvi118s and Iln•ndal rf8k from •xpendllur& oxc•dlng Income1gvg1s. Thèsé risks Arn mlVyl•d by vwlou8 wAlc68s and In ptac•, Inwr•n¢8 Fdldo8 •nd th• rn•kntenan ol finarnl81 (e68r408. Referno •nd Athnlnl•tr•dv• D•tsll• Chadty ngm•'. Mltrord Bapwst CIMKch Regl$l•r•d iadty nLThber. 1193201 Prfnclpal addf•8•.' B•ptst Church H41, 15 Nv Road. Mlford, GU8 5BE Trust1.. M Dunford Re4pr4)inled 28 OcloLw 2025 L Le Rwppointed 27 Oclober W24 l L¥Y Appjlnled 22 Odobor 2023 Mlnl8t•r.' R wats AFvohihd 15 Awt 2024 S Bryllw R•slgned 27 Odob•r 2W24 INJ•p•nd•nl &Kamln•r LU & Co. Ch8ternd Corilfi•d A(0)71. 11 Chwth Streot, God4lmlng, GU7 1EQ Promi Trusteos: The BapI6t Unknn Cwayon Llmit•d. B•ptist Houw, 129 Broadway, Dldcol. OX118RT Bankor8: CAF Bank Umitad. 25 W Hlll A¥u•. Klry HI, W1 ma17g, ME19 4JQ Apwoved by tho Tru8t¢e8 ¥#1 slgmd on thw bghowty. e stanton Seuetary M Dunfo Trustee Date.. 2026
MILFORD BAPTIST CHURCH CIO REPORT OF THE INDEPENDENT EXAMINER TO THE TRUSTEES YEAR ENDED 30 SEPTEMBER 2025 Report olthe Independent Examiner to the Trustees ol milfo Bapltst Church CIO on th? accounts for the year ertd 30 Soptember 2025 Respeetlv• responslbllltles of TTUStees •nd Examln The CIO'S Trustees are responsible for the preparation of ts accounts undor the requirements of the Charities Act 2011 (the Charities Act). The CIO'S trustees cAVlder that an audit ts not required for thls year urKler section 144 of the Charities Aci and that an indefftnt examwialim is needed. It is my responsiblltty to: • examine the accounts under secton 145 ofthe Charities kt . to follow the procedures laid down in the gen Directw)ns gr¥en by thè Charity Commissii (under section 145(5)(b) of the Charities Art and • to state whether partiujlar matters have come to rny attention. Bag18 01 Indopendont •xamlneV8 Statsment fy examination was ¢arrted out in xcordan* Irh gen Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the CIO and a comparison of the accounis presented those records. It aL80 includes $lation of any unusual iiems or disclosures in the accounts, arKI seeklng explanations from the trustees wnceming any such matters. The procedures undertaken do not provide all the evidence that would be required in an audiL aThJ nseqUenY no opinion gNen as to whether the a¢cxJunts present a 'true and fairf Vie•V and the rew1 is limited to those matters set wi in the ststement below. lThdepèndent examlnets statemont In connectton wrth my examination, no material mattern have come to my attenti whith gives me cause to believe IhaL in any malefial SPeCt • aoUnting records were nol kept in accdanCe wth secth)n 130 of the Charities Ac¢ or . the accounls do not accord Iwth the accounting rec>xds: or . the accounts do not mpty Wbth Ihe applicable requirements the fom and content of acownts set out in the Charitses (Accounts and ReF¢rts) RegulanS 2008 other than any requirement that the acMunts give a 'true and fair view which is not a matter ¢onsidered as part of an independent exarnination. I have come across no other matters in connectton wilh the exarnlnabon to which attentK#) should be drawn In order to enable a proper understandtng of the accounts to be reached. &gned by oron behaff ofthe Examiner P J Lucas FCCA Lucas & Co Chartered CertIfd AGc4Junlants 11 Church Strerf Godalmiry, Surrey, GU7 1EQ 2026
MILFORD BAPTIST CHURCH CIO FINANCIAL STATEMENTS YEAR ENDED 30 SEPTEMBER 2025 STATEMEMf OF FINANCIAL ACTIVITIES 2025 Total funds 2024 Total fund5 Unrestrl¢ted Unrestrlctsd funds Note Charltable Incornè Donatlons and gifts Charitable aclvlties Bank interest receivable 76,730 6,100 3,368 76,730 6,100 3,368 53,886 16,714 4,058 Total 86,198 86.198 74,658 Charitable Expendlturn Ministy costs Admlnlstraty'on costs Establishment costs Manse costs Charitable giving 44,982 1,691 13,810 8,867 7,126 44,982 1,691 13.810 8,867 7.126 22,258 1,977 31,463 4,494 8,651 Total 78,476 76N76 68,843 Net surplusl{dellclt) 9,722 9.722 5.815 Other fund movements Net movement In fund8 9.722 9,n2 5.815 Reconcili•tion of funds Total funds brought forward Net movement in fvnds 13 693,272 693,272 9,722 9.722 687,457 5,815 Total fvnds carrfed forward 702,994 702,994 693,272
MILFORD BAPTIST CHURCH CIO FINANCIAL STATEMENTS YEAR ENDED 30 SEPTEMBER 2025 BALANCE SHEET 2025 2024 Nots$ Flxod a•ts 10 530,554 Currnnt a880ts Debtors C8sh at bank 11 4.502 168.738 173,240 3,976 159.702 163.678 Cr•dltors Amounts falllng due withln on? yoar 12 (800) N•t current4$ts 172,440 1S2.718 Total aM¢ts lam rI•t Ilabllili•8 702.994 693.272 Creditorn Amounts fauing due after moro than ong yr N•tAs80ts 702,994 93,272 Fund lItt¢ UnToslrided General Fund Ut)re81rkted Bullding$ Fund 13 13 172,440 530,554 162.718 530,554 Total funds 702,994 693.272 E Stantt*n Secretary g.Èk M Dunford Trustee o? T14L7 2026
MILFORD BAPTIST CHURCH ¢10 FINANCIAL STATEMEN YEAR ENDED 30 SEPTEMBER 2025 NOT&8 TO THE FINANCIAL STATeMeiiTS l. Ac¢ounllng Poll¢l 8a81• of PT•parnllon The finan(aal 5tatemonl8 of the Lwity, li a benefftentity FRS102, havg preparnd in aco)rdw th the Charities SORP IFRS1021'ALramting and R•pNltr4 by Ch•rtye¥ Stst•Mnt of Rewnmeth PiaGtic8 1ppll¢bkn to charitie• prgpairirKJ thatr accwnts in K£ord8ne• wth Finano RapnO Stsndord applie4Ue in the UK •TrJ Republlc ol Iroland IFRS 1021 l•llectfve 01 Jyory 20191., Firw)dal Rwb'rvJ StRndl 102 Tr RowDng Standar¢l l¢)kn in Iha UK 4rx1 R•pLth ol Ir¢l8n¢f ¥J Iho Ch•rftsB P4X2011. fin91 $tat8m•nts JI IncaTh l• rot4yill th•thwlty Iw th• th• rwil Sb prob•ble •ThY Ihè yTrIcn b• moaiured rellabty. LIabIl m r•eognl•ed •• •yndrtLtyè loron •n wyu•15 b•sii tsr• kn • lagal N cthi•trwv• obligaUon to mth• ptynvMts to thlrd p•Its. il ts pwtl>abl• Ih•l•eknwntll bè rnqulred •nd tho •mount olth• obliggtson t4 m•ur•d r1. •t i eon•tsnt rnt• on the •mtyJntoftho d•iM P•n#lon ¢ts Tr• Church conlrfbulSoM for its mlnlthrto th• B•pOIt P•nstM Scknw. notctsitra¢ts out for Stat• P••skn puw. 18 • d•fined 8ctrkfjm• Par1$ •r• •ecAiunt•d for Sn th• yg4r lo whkh th•y r•l•t•. Th• Churth pay8 d•fidt Baptiit PMion S¢wT of its dowj defingd bonefft plan. Th1• 8th•m• l• a mul1 p•nslon urKI it li not lo Klontsfy tho u•ts and liabllits88 ofu hgmg wthlch ar• lts1O to th• Churth. In •c¢fjrd wilh ts SORP IFRS 1021 th• SB th•r•foro IUnIa l¢r u • d•fth•d Contribulb •ch. Furtrr detth Mtoutin th• nol•• to th• finandal 8tal•mont•. Txllon Tanglbl• Flx•d a•••l• Tangib fd aseets crynFrng tho cMrr bjlldlry mM• ThJ w• caThiod ¥thl¢ ¢AI8t +xd tho ¢t •t they are [dWithIn ts fin•nc411 st•tThnl•. Fund accouDtln¥ R88lricl8d funds can onty be usod for pArttls1 r•strIc Purpo h1 the oltho dwlty. RtriCI10 •rl•• t3olng Concern Th? sfo u10•d th•tthero no matsrial r•vrdI ts Clreh. to •B • gowvd
MILFORD BAPTIST CHURCH GIO FINANCIAL STATEMENTS YEAR ENDED 30 SEPTEMBER 2026 NOTES TO THE FINAMCIAL STATEMEIITS 2 Inconw from donatlon• and glft• 2028 Donallons and glfts Legacy gifts Glft Ald recoveroblo 46.598 20,390 9,742 45.380 8.506 78,730 53.886 3 Incom from chArflabl• •cllvltl•B 2026 2024 Manse rental Inc4)m• Olher Income ConlrfbLrtlons toward8 prem(8es 18.714 8,100 16.714 Durfng 2024, I1 Man$8 w18181 on comrnerd•l torn8 for 8 mot)th$, but not In 2025- Note 7 Stopplng Ston•8 Nurn•ry rn8d• a fin41 contdbullons paymont ltyw8rd8 promlses costs- Nolo 18 4 Mlnl•ty co•ts 2025 2024 Moderntor ¢08ts al exn888 Mlnlster stlpgnd 8nd oxp8n8•8 Gen•rnl mlnlsty costs and tralnlng Outr88ch and dovelopmonl Ytyjlh ¢>)sl$ other grou and rg8ourco8 4.823 0,460 3,110 2.078 3,594 2.193 Not• 9 34.028 2,905 2,925 2,507 2,557 44,982 22.258 6 Admlnl•htlon eo•ts 2025 2024 T6lèphtM• and broadband General expen8e8 Independent Exarnlnerfees Bank drge9 78 253 590 718 721 1,691 1,977
MILFORD BAPTIST CHURCH CIO FINANCIAL STATEMENTS YEAR ENDED 30 SEPTEMBER 2025 MOTES TO THE FINANCIAL STATEMENTS 6 E•tablhhm•nt co8ts 2025 2024 Repalr8 and malnlgnartc• Llghling and heallng In8uranc• Wator rats8 8,327 4.895 2,374 214 19,399 9.487 2,332 245 13,810 31,483 7 Alan ¢o•l• 2(126 2024 Mortgap Intore81 Repalr8 and MnteNanC6 Uullty co$18 Coun¢ll lax In8urnn¢• 710 2,125 3,139 3.420 638 1,021 .867 4.494 [n0 2024, tho Mani¢ wai161 on CMerC81 tsm8 lor 8 nwJnth8, but nol In 2025- Note 3 11 was fully occupled by tho new mlnl8ler4nd famlly from mld August 2024 8 Ch•rltsbl• gfvlng 2026 2024 Me¢hankno forAfrtca Compa881on UK Olhercharltablfj •nd pastoral g1ft1 Note 18 5,200 1,S76 350 6,200 1,S76 875 7,126 8.851
hlLFORD BAPTIST CHURCH CIO FINANCIAL STATEMENTS YEAR ENDED 30 SEPTEMBER 2028 NOTES TO THE FINANCIAL STATEMENTS g Staff ¢o•t•, TrMt•••' r•mun•ratlon •nd •xp•n• 2025 2024 Mlnlstsr 8Vpend and •xp•n• PAinister sllpend Employers Nallonal Insuran Employars p•nslon conlrfbution$ Employe payToII Gomp15ance c081$ Mlnl8ter expen888 29,331 3,690 3.704 216 777 34,028 8,867 302 88 2.400 6.460 810 Man89 Nnnlng C08t• 42.895 7.270 Dr Rathel Walion wa8 appolnled 08 the Church's full Ime mlnlsl¢r wlth effect from 15 Augu812024 A non-89p8rabla part of the role of the mlnlsler t810 ad 88 Chalr of TruBlee6 of the Church A 8lgnlflcant part of Ihg mlnlslerf8 overall r&mungiallon18 Iho provl8lon of 8cwimodatlon wllhln th• Church man80, tho rel8vanl runnlng co818 of whl¢h are Shown abovè. The attrlbul8blg pBn81on4blo benefll of that accommdalSon for Iho ffjlevanl perlcil wa8 £7,70912024: £9521. Thwo were no other employ888 of tha Church durlng tho y•ar other than th• mlnlster Tru•tse•' r•mungrntlon and •xp•nw• Durfng the year L Lewl8 wa$ pald £1,29012024.' £1.2751 tor clè4nlng 8er41c88, provld•d on s•lf.gmployed b8818 and In full aompllanco I1h tho requlrgmgrbls of tha CIO con8111uUon. A lolal of £1,83112024.. £2,771) w48 relmbur88d to L L•wl• In rewect of ¢hurth fabrtc & m•lnlenance expen8e8 and youth r8soure• cost8. A total of £808 (2024.. £1,141) was rglmburs8d lo h¥o12024.' thr•0) other bu$l8•8 In respect of $ofhvar• Ilc8nc98. gengr41 rosoure88 and a memorfal bench. No othw Iru81••8 le1Ved any remunerallon or relmbur88d expan8e8
MILFORD BAPTIST CHURCH CIO FINANCIAL STATEMENTS YEAR ENDED 30 SEPTEMBER 2025 10 NOTES TO THE FINANCIAL STATEMEIITS 10 T•ngll)l• Flx•d A•Mts Hhto Insur•d valu• E•llmat¢d market valu• Church pr•mlu• Orfglnal sau•ry Exl)$lon 38,107 134.384 172.491 1,935.530 1,500.000 Church M• 820.014 750.000 Total al 30 Soptonw 2025 2.755,544 2,250,000 Tolal a130 S•pl•mb•r 2024 2.S18,538 2,250,C(10 The Cl¢hIS Ihè bon•fidal rylmer (Sub to Irusl) olthè Premlses and th? Churth Manse, IM legal tltl• lo 1$ h•ld by th• ¢Arntry8n tmsloè, tho Bapusl unk Corporntlon Umll8d. Church f118$, fiMlng$ and equIF1 are LY)nshJered lo no reali8abl8 valu• of any BlgnOfic8nce. Jt had an In$ur8d replacement vahje at 30 S•plber 2025 01£85.719 (30 S•plemb8r 2024.. £83,222}. 11 D•btor• 2026 2024 Cther dor¥ 3.976 3,976 12 Cr•dltor• iounts falllng du• wlthln on• y••r 2025 2024 Mortgage ban$ **re fully rnpald kn Juty 224 The bans re in the name of th? 8aptst Urmon Umw, held on bohaff of Mlfml Bapust Church CIO 8eoJrnd upw Manse freetrd pmprty. The sO(ty Is now released.
MILFORD BAPTIST CHURCH CIO FINANCIAL STATEMENTS YEAR ENDED 30 SEPTEMBER 2025 11 NOTES TO THE FINANCIAL STATEMEKrs 13 Fund8 and r••om8 UnY•8lrfctod UnrnBtrfct•d Rwtrktsd Totsl G•n•ral Pmnl fund• fvnd# Fund Fund Total furK18 at 01 October 2023 Net movomenl in funds- 2023r24 Tran8fvr bgtswen fund• 164,308 5,815 17,4051 523,149 687h57 5,815 7,405 Total funds at 30 S•ptsmb•r 2024 Nal movement In funds- 2024126 Transfer between funds 162.718 530,554 693,272 9,722 Total fund• at 30 8•ptsmb•r 2026 172.440 530,554 702.994 Thè Unreitrfct•d G•n•r•l Fund r•prt8enl tho malortty of Ihe Church Income ond 8xp•ndltur• and con b• used In 8cctsrdance Véllh th? chgrttable ObctIv•S at the dlwetson ol thè trustees. Th• Unre8lrfct•d Pr•ml801 Fund li 4 fix•d a••el r•••rvo. malntalned Iby tr4n•f•r to or from general fvndsl at a l•vel •qual to the net book valug of thè church pr•ml808 and chur¢h man$e le88 the o14ny mwlg•g• loan payAbl•. 14 AMly•l• of A••ot• & Llabllltl•• b•lw••n Fund• 2020 2024 Unro•trlcted Gongrnl Fund GIftAld lax r•cov•r4ble Bank balgncos othar crodllor8 and acerual• 4,502 3,978 188,738 159,702 Boo Unrtstrfctsd G•n•ral Fund 172,440 102.718 Unr••trlct•d Prom1••• Fund Church premises Church man80 172,491 172,491 358,063 358.063 530.554 530.554 Mortgage loans- wpaid July 2024 530,$54 530.554
MILFORD BAPTIST CHURCH CIO FINANCIAL STATEMENTS YEAR ENDED 30 SEPTEMBER 2025 12 NOTES TO THE FINANCIAL STATEMENTS 1S P•nBlons The Church is a particlpallng employer in the Baptist Pension Scheme (the Schemel. is a sep8Tal8 legal entlty administered by the Penslon Trustee {8aplisl Penslon Trust Limit8dl. The Scheme, previousty known as the 8aptlsl Minislerg Penslon Fund. slarted in 1925. Al the bgginning of Ihe financtal year. the Scheme comprised of a defined benefits h¢m& which was dosed lo future acuual on 31 December 2011 and a defined contribution plan which was opened in January 2012. The ass8ts of the Scheme are held separately fmm thos8 of the Employer and the other partirApating omployors. For Ihe wrrentfinancial year. th8 P8nsion proviston for members ofthe Scheme Is b81ng made through th? Defined Contribution (DC) Ptan. In g8neral. members pay 8% ofthèir Pensionable Incom8 and employers pay 0% of members, Pen8ionable Incomg Into indivldual penslon accounts. which ar8 oper818d and managed on bghalf of the Penston Trustee by Broadston9 Corporate 8enefits Ltd. In addition, thè employer pays a further 4% of Pensionable Inttjme to ¢ovgr Dgath in Service Benefits, adminl$lTalion costs. and an assoaated insurance policy which Provides Income proledxin for Scheme m8mbÈrs ifthey are unable to work due to long-term incapacity. This Income protection pollcy has been insured by the Baptlst Unlon of Grnat Brita wilh Avlva LlmRed. The Minister 18 a memb9r of the Scheme. In O¢lob8r 2024. the insurance company Just Group completad a buy out of the liabilibes of the closed defined benefft scheme. From that date any remaining liabillty of Ihè participating scheme membgrs to the defined benefit schem8 c•ased and the £1 per month dgfick contn'trojtions payable by th¢ participating employers whlth were aged In the reVery plan 8pprov8d in Augu512022 also ceased from Ihat dale. Admlnlslrallon ofthe dosed dellned benafft scheme transfeffed from the pension tru$lg9 to Just Group from that dale. Section 28.11A of FRS 102 requires agreed deficit r9V9ry panentS lo be recognlsed as a liability- The present value of the agreed defiol contributions were immaterial at the beginning of the financlal year and were fulty &xlinguished once the buy outwas Mpleted by Ju81 Group in Octotér 2024. 16 R•lated party dIscIU Me¢hanlcs forAfric4 IMFA) 18 a sop8ratg Qharity whith was e8t8bllshed by Milfrjrd Bapti81 Church uninL¥)rporal8d d)arfty. Church membors serve as trustees of MFA from lime lo lime. Donattons of£5,2CIO12024'. £6,200) were made lo MFA by thg Church during the ye8r (Note 8}. Slepplng Stones Nursey School Milford (Stepping Slonesl is 8 separate charity which was or(ginally eslablished by Milford Bapb$l Church unincorpornled charity. Church members serve as trustees of Slepplng Stones. Stepping Stones Nursery dosed in December 2024 al the end of the Atrtumn tem and ceased all operations. Stepping Stones was run from the Church premises and during thg year made a fin81 contrlbulion of £6.00012024.' £NNI towards prn55e$ running rKsls and overheads ovgr the previous years {Nole 3). The trjslodian Trustee of the Church is the Baptist Unth Corporation Limited {ch8dty number 249835) which controlled by thg Baptist Union Council. The Church is also a member ofthe Bapllst Union of Great Britaln, and th8 South Easlem Baptist A8sorAatton. All trustees and members of Milfd Baptist Church CIO make significant contibulions lo the Churth Ihroughoul the year, be il seNIc8, finance or both. The majority of thg Church's charilabk8 income from donation$ and gifts18 contributed by Church members.