WALSGRAVE BAPTIST CHURCH REPORT AND FINANCIAL ACCOUNTS For the year ended 31 March 2024 CHARITY NO. 1194132 Page I
WALSGRAVE BAPTIST CHURCH CONTENTS Page Legal & Administrative Information Report of the Trustees Report of the Independent Examiner Statement of Financial Activities Balance Sheet Note5 forming part of Financial Statements 9-15 Page 2
WALSGRAVE BAPTIST CHURCH ADMINISTRATIVE INFORMATION Trustees th Mr Bernard Agbaragu- elected 17 March 2023 Mr Kevin Bodsworth- re5i8ned 18th May 2023 Mr Lewis Councell- elected 17th March 2023 th Mr Jonathan Gardner- resigned 16 May 2024 Mrs Rebecta Hyde th Mr Christopher Jones - elected 14 July 2024 Mrs Jennifer Jones th Mrs Zainab Manskanu- elected 14 July 2024 Mr David McKelvie Mrs Marie Nguekarn- elected 14 July 2024 Mrs Daisy Oppon Charity Registration No- 1194132 Principal Office: Walsgrave Bapt15t Church Hinckley Road Coventry CV2 2EX Independent Examiner: Mr Gavin S Kibble ACMA l Kineton Road Coventry CV2 3NR Bankers: The Co-operative Bank Coventry Building Society Minister/ Trustees: Pastors David and Amy Barker Page 3
WALSGRAVE BAPTIST CHURCH REPORT OF THE TRUSTEES The trustees present their report together with the financial statements of the charity for the year ended 31 March 2024. The financial statements have been prepared in accordance with the accounting policies set out on pages 9 and comply with the trust deed and applicable law. Constitution and Objectives Wa15grave Bapt15t Church was constituted under a trust deed dated 1840 for a Baptist Chapel and conveyances dated 10 August 1840, 10 November 1919 and 16 July 1974. The current charity, a Charitable Incorporated Organisation ICIOI, was formed on 21 March 2021. On 31 March 2022 there was a f ull transfer of assets and undertakings to the CIO from the previous charity. which was subsequently de-registered. The purpose of the CIO is the advancement of the Christian faith according to the principles of the Baptist denoffl ination, and to advance education and carry out other charitable purpose5 in the United Kingdom and other parts of the world. Organisation The trustees who have Served in the year are shown on page l. Trustees are elected by nomination annually and, except for the Secretary and Treasurer who are elected annually. serve for a term of three years after which they may be nominated for re-appointment. One third of the elected trustees retire annually by rotation. All members have a right to vote. The ministers of the church are a ppointed as trustees automatically. The trustees have overall responsibility for the running of the organisation. Grant Maklng Pollcles As well as encouraging members and others commltted to the work of the church to fund the church's work generously, It also aims to give out part of its income to other charities and like- minded organisations. Members are encouraged to organise fundraising events for such organisations and special offerings are taken up occasionally during Sunday worship. Review of the year This year has been busy as we have welcomed in new people and 12 families who regularly attend on a Sunday. which has meant the number of children and young people attending Junior Church has also grown. We have continued to be open each morning, providing a place for people to come offering a hot drink and other artivities, such as Knit and Natter and board games. Food Bank has continued to run each week, providing a much-needed service to the community- As part of being open each day, we can offer signposting to other organisations that can help and to provide friendship and support. Page 4
WALSGRAVE BAPTIST CHURCH REPORT OF THE TRUSTEES (cont.) We are currently refitting the kitchen to a catering standard, using grant money received from Benefact Trust and Heart of England Baptist Association, so we will be able to offer more catering in the form of a pay-what-you-can café and hot meals for community events. Having a catering standard kitchen allows us to provide training opportunities in catering and hospitality. to volunteers with a view to them going on to employment. This year we have had two young men who have been volunteering with us after dropping in for a drink and a chat one morning. Our group5 have continued with Open House, Crafty Cuppa and Tiny Tots welcoming in new people from the community. Three of our Connect Groups continue to run along with a prayer group that meet regularly to pray for the Church and community. As we aim to be at the heart of the community, we rent out our rooms to a Pilates class, baby spa, tutoring service and musical theatre group. By charging commercial groups for room hire, we are then able to provide a space for community groups, such as WalsErave Community Forum. Good Neighbours and Christians Against Poverty, to hold regular meetings free of charge. Our Family and Community Worker was on maternity leave from January 2023 until August 2023 and during that time some of her work was covered by other members of the staff team. This meant we were able to continue our Messy Church events during School holidays, which were well attended by both regulars and new families. Circle of Care groups (that were set up to keep in touch with members and regular worshippers to provide pastoral support by phone, text and email) has continued with new people being included as they start to regularly attend our fellowship. We have continued to Partner with Hope into Action in supporting the family in their home, with friendship and practical support. Reserve Policy The Trustees have established a reserves policy where unrestricted reserves should ideally be maintained at not less than £IO.O(X). The unrestricted reserves at the end of the year were £57,708 (2023 £41.1381 Signed on behalf of the Trustees Pagc 5
WALSGRAVE BAPTIST CHURCH Independent examiner's report to the Trustees of Walsgrave Baptist Church I report on the accounts for the year ended 31 March 2024 which are set out on pages 7 to 14. Respectlve responsibilities of the trnstees and the exarniner The char1t$ trustees are responsible for the preparation of the accounts. The charity's trustees consider that an audit Is not required for this year under section 144121 of the Charities Act 2011 Ithe 2011 Act) and that an independent examination is needed. It is my responsibility to examine the accounts under section 145 of the 2011 Act- follow the procedures laid down in the General Direction5 given by the Charity Commi55ioner section 145151 Ibl of the 2011 Act,. and state whether particular matters have come to my attention. Basis of Independent Examiner's Statement My examination was carried out in accordance with the General Directions given by the Charity Commission. An examination include5 a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes considering any unusual ttems or disclosures in the accounts. and seeking explanations from the trustees concerninE any such matters. The procedures undertaken do not provide all the evidence that would be required in a full audit and consequently no opinion is given as to whether the accounts represent a "true and fair view, and the report is limited to those matters set out in the statement below. Independent examiner's statement In connection with my examination, no matters have come to my attention: iii which give me reasonable cause to believe that in any material respect the requirements to keep accounting record5 in accordance with section 130 of the 2011 Act,. or to prepare account5 which accord with the accounting record5 and comply with the accounting requirements of the 2011 Art have not been met; or 121 to which, in my opinion. attention should be drawn in order to enable a proper understanding of the accounts to be reached. Gavin Kibble, M02aic Innovate Ltd l Kineton Road, Coventry, CV2 3NR 10th November. 2024 Page 6
WALSGRAVE BAPTIST CHURCH Statement of Financial Activities For the Year Ended 31" March 2024 2024 Unrestricted Restricted 2023 Unrestrlcted Re5trirted Total Total Note Funds Funds Funds Funds Funds Funds Income . Donations, grants and legacies 78,807 13,400 92,207 66,912 4,934 71,846 Charitable activities 22,682 22,682 22,027 22,027 Investment income 632 632 203 203 Total Income 102,120 13,400 115,520 89.141 4,934 94.075 Expenditure . Charitable giving 2,004 2.004 2,004 Expenditure on charitable artivities Management and administration 68,165 68,165 73,329 1,864 75,193 15,381 15,381 13,202 13,202 Total Expenditure 85.550 85.550 88,535 1,864 90,399 Net incomellexpenditurel before transfer5 16.570 13,400 29,970 606 3,070 3,676 Transfer between fijnds 3,070 {3,0701 Net income/lexpenditure} 16,570 13.400 29,970 3,676 3,676 Reconciliation of funds Total funds brought forward 14 41,138 41,138 37,462 37,462 Total funds carried forward 14 57,708 13.400 71,108 41,138 41,138 The statement of financial activitie5 includes all gains and losses recognised in the year. All income derives from continuing activities. Page 7
WALSGRAVE BAPTIST CHURCH Balance Sheet as at 31" March 2024 Note 2024 2023 FIXED ASSETS Tangible Fixed Assets io 15,062 2,303 CURRENT ASSETS Debtors Cash at bank Cash in hand li 15,083 41,405 58 10,402 28,799 135 TOTAL CURRENT ASSETS 56,546 39,335 CREDITORS Amounts falling due within one year 12 500 500 NET CURRENT ASss 56JJ46 38.835 NET ASSETS 71.108 41,138 FUNDS Unrestricted funds Restritted funds 14 57,708 13.400 41,138 14 TOTAL FUNDS 71,108 41,138 The accounts on pages 7 to 14 were approved on behalf of the Trustees by.. David Barker, Minister Dète tOUI Page 8
WALSGRAVE BAPTIST CHURCH Notes to the Accounts for the Year Ended 31st March 2024 Accounting Policies lal Basis of Accounting.. The financial statements have been prepared in accordance with Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance the Financial Reporting Standard applicable in the UK and the Republlc of Ireland IFRS 102, effectlve January 20151. Assets and Ilabilities are initially recogni5ed at historical cost or transaction value unles5 Othenwise stated in the relevant accountin8 policy notelsl. Ibl Incoming rèsources .. Donations, grants, investment income and all other incoming resources are accounted for on a receivable basis where this is quantifiable. The value of services provided by volunteers has not been included. Icl Re50urce5 expended.. Expenditure 15 recognised on an account basis and analysed by natural category. Idl Assets and Depreciation: Tangible fixed assets for use by the charity are capitalised if they can be used for more than one yèar and cost at least £350. Depreciation is provided at the following rates based on the estimated useful life of these fixed assets and their anticipated residual value.. Furniture, Fixtures, Fittings and Equipment 20% straight line lel Fund accounts= Unrestricted funds are donatlons and other intome received or generated for the objects of the charity without further specified purpose and are available as funds which the charity may use for its purposes at its discretion. Designated funds are donations and other ir)come received or generated for the objects of the charity where the Trustees have determined a need for funds to be identified for specific purposes. Restricted fund5 are to be used for specified purposes as laid down by the donor. Expenditure which meets these criteria is identified to the fund. Page 9
WALSGRAVE BAPTIST CHURCH Notes to the Accounts {continued) for the Year Ended 31" March 2024 Legal Status of Organisation The charity was formed and registered as a Charitable Incorporated Organisations on 21 March 2021. The assets of the previously unincorporated charity known as Walsgrave Baptist Church (charity number 113487611 were transferred (by way of gtftl on the 31" March 2022. The non-monetary assets listed in note 8 were also transferred to the charitable incorporated organisation. Donations and Legacies Unrestritted Restritted Total Funds 2024 Funds Funds 2023 Voluntary giving {general fund) Voluntary giving {BMS funds) Vision Day giving Donations 58,670 144 58,670 144 53,871 251 6,741 1,746 6,741 1,746 13,400 11,507 92,207 2,764 4,934 10,026 71,846 Grants 13,400 Gift Aid recovered 11,507 78.807 13,400 Income from Charitable Activities Unrestricted Restrirted Total Funds 2024 2023 Funds Funds Hire of church rooms Church Clubs Church Weekend 16,343 307 16.343 307 9,976 279 4,280 580 4,280 580 6,486 788 Hope into Artion Youth Work and Soul Survivor Fellowship Fund Foodbank Fund 57 57 557 425 425 430 300 300 325 Building Fund Cafél Kitchen Income Open House 600 140 140 2,081 503 250 250 22,682 22,682 22,027 Page 10
WALSGRAVE BAPTIST CHURCH Notes to the Accounts (continued) For the Year Ended 31" March 2024 Inveslments 2024 2023 Bank interest 632 203 Expenditure on Charitable Artivities Unrestricted Funds Restrirted Funds Total Funds 2024 2023 Salaries Ministerfs expenses Preaching fees Appeals and Offerings Ministerfs accommodation and repair5 BMS Fund HMF Church utilities and insurance Church maintenance costs Small value equipment Cleaning costs Catering costs Publicity Training and conferences Worship resources Evangelism/ Outreach aubs expenditure Hope into Action Healthy Artivities and Food Open Door Young People Christmas Expenditure Telephone and broadband Foodbank/ Fellowship fund Church Weekend 34.385 941 350 1,172 3,442 2,218 1,032 9,355 1,345 354 980 1,827 34,385 941 350 1,172 3,442 2,218 1,032 9,355 1,345 354 980 1,827 35,843 839 150 1,645 3,578 2.218 1.032 6,180 2,208 371 483 231 811 293 514 287 1.463 970 1,529 92 1,529 92 600 600 254 1,090 254 1,090 894 1.695 440 613 955 955 44 605 559 605 559 435 435 7,694 2,864 409 Depreciation Other 4,387 215 4,387 215 68,165 68,165 75,193 Pagell
WALSGRAVE BAPTIST CHURCH Notes to the Accounts {continued) For the Year Ended 31st March 2024 Non-monetary Assets held for the Church's own use The church is the beneficial owner (subject to relevant trusts) of the following assets, the legal title of which are held by the church's custodian trustees (The Heart of England Baptist Association): 2024 2023 Church premises lin5ured value) 2,178,892 2,125,726 Manse linsured value) 323,033 314.450 Expenditure on Management and Admlnistratlon Unrestricted Restrirted Funds Funds Total Funds 2024 2023 Licenses and Subscriptions Church Administrator Staff/ Intern Expenses Independent Examination Professlonal Fees 2,006 10,548 672 500 2,006 10,548 672 500 1,775 9,430 500 132 Stationery, printing and postage 1,655 1.655 1,365 15,381 15,381 13,202 Analysis of staff costs, Staff numbers and trustee remuneration and expense5 Expenditure includes staff cost5 as follows Salarie5 SMP/SPP Recovered Pension 2024 2023 50.548 {9,6531 4,038 44,933 47,051 16,8741 5.096 45,273 Total Staff Costs The average monthly headcount was 4 st3ff12023 '. 4 stam and the average monthly full-time equivalent employees (including part-time staff) were 312023 31. Rebecca Hyde was employed by the charity as Church Administrator. David and Amy Barker were employed by the charity as Church Mlnlsters. No trustees were reimbursed expenses for their services as trustees during the year12023 .' nill. No charity trustee received payment for professional or other setvice5 supplied to the charity12023.' nill. Pag¢ 12
WALSGRAVE BAPTIST CHURCH Notes to the Accounts (continued) For the Year Ended 31st March 2024 10: Tan8ible Fixed Assets Fixtures, Furniture and Equipment Total Cost As at 1st April 2023 Additions Disposals As at31st March 2024 55,373 17,146 55,373 17.146 72,519 72,519 Depreciation As at 1st April 2023 Charge for the year Disposals As at 31st March 2024 53,070 4,387 53,070 4,387 57,457 57,457 Net Book Value As at 1st April 2023 As at 31st March 2024 2,003 15,062 2,003 15,062 11: Debtor5 . amounts falling due within one year: 2024 2023 Recoverable SMP Trade Debtor5 Gift Aid Recoverable Prepayments 10.500 1,340 983 2,260 15,083 6,432 518 983 2,469 10,402 Iz: Credltors . amounts falling due thIn one year 2024 2023 Accruals 500 500 13: Related Party Transaction There were no related party transaction5 {2023 . nill. Pag¢ 13