Docusign Envelope ID: 84E28740-65AC-8F14-8197-8886EAC29046 **Bay Church (Torbay) Annual Report and Financial Statements For the period 1 July 2024 to 30 June 2025** _Address for correspondence: Bay Church, St Andrew’s, Sands Road, Paignton, TQ4 6HA_ Project Lead: The Reverend Matt Bray Independent Examiner: Mr Ian Barrett 22 Union Street Newton Abbot TQ12 2JS Bankers: NatWest Bank, 59 High Street, Exeter, EX1 3DL ## Registered Charity Number 1194618 Docusign Envelope ID: 84E28740-65AC-8F14-8197-8886EAC29046 ## **Bay Church (Torbay)** |**Contents**|**Page**| |---|---| |Annual Report|1| |Independent Examiner's Report|5| |Statement of Financial Activities|6| |Balance Sheet|7| |Cashflow Statement|8| |Notes to the Financial Statements|9| _0_ Docusign Envelope ID: 84E28740-65AC-8F14-8197-8886EAC29046 **Bay Church (Torbay)** ## **Annual Report** ## **for the period ended 30 June 2025** ## **Aim and Purpose** Bay Church is a Charitable Incorporated Organisation (‘CIO’) which is governed by trustees who have the responsibility of cooperating with the Project Lead, the Reverend Matt Bray, in promoting across the Torbay area, the whole mission of the Church – pastoral, evangelistic, social and ecumenical. As well as the Church itself, which is a Grade II Listed Building, the CIO is also responsible for maintaining the Church Hall. The CIO leases the church from the benefice of Paignton Parish and the church hall from the Paignton Parish Church Council. The object of the CIO is to advance the Christian faith for the benefit of the public living in Torbay in accordance with the tenets of the Church of England and in accordance with the statements of belief appearing in the schedule. The vision of Bay Church is to see Jesus loved, the Church alive and society transformed in Torbay and beyond. We aim to build a thriving and sustainable church which contributes to the Diocesan vision to grow in prayer, make new disciples and serve the people of the Devon with joy. ## **Objectives and Activities** The CIO is committed to enabling as many people as possible to worship at our Church, and to become part of our church family. When planning our activities, the CIO has considered the Charity Commission’s guidance on public benefit, and in particular the specific guidance to charities for the advancement of religion. Our services and worship put faith into practice through prayer, worship and scripture. We try to enable ordinary people to live out their faith as part of our church family, to see: - Jesus Loved: We believe that Jesus transforms lives, and our heart is to see people come to know and experience that life changing relationship with Jesus. - The Church Alive: We know that healthy things grow, and so we want to see churches alive and thriving, growing in number and in depth, and - Society Transformed: We want to see a fairer and just society; where the lonely are loved, the homeless housed, and the addicted set free. To facilitate this work, it is vital that we maintain the fabric of both the Church and the Hall. ## **Achievements and performance** ## _**Worship and Prayer**_ We have continued to grow as a church numerically, with those who call Bay Church their home. The previous year saw a plateau in church growth, but after the introduction of a second morning service our numbers began to increase again, and we now welcome nearly 300 attendees across all ages through the doors every Sunday for our worship and prayer gatherings. ## _**Deanery Synod**_ Bay Church is a member of Torbay Deanery Synod and will nominate members of the Missional Roll to sit on the Deanery Synod. This provides the CIO with a link with the churches around us, and also with the Diocese as a whole. It also receives reports from the General Synod. ## _**Church Fabric**_ Since the last report, works to provide new electrics and air source heating are complete, with running water and drainage for our new servery still underway. New toilets and accessibility measures have been completed. The Church hall (with additional funding received from the Church Commissioners) has had its roof repaired, electrics rewired, and toilets refreshed. Undergoing large re-ordering works throughout the summer of 2025 for better accessibility into the main hall space. _1_ Docusign Envelope ID: 84E28740-65AC-8F14-8197-8886EAC29046 ## _**Mission and Evangelism**_ Bay Tots (a free weekly baby and toddler group) continues to be a warm and welcoming space for 100 people coming through the doors each week across all age groups. It has cemented its reputation within the bay, known across the area as one of the best offerings for parents/carers and their little ones. We continue to run the Alpha course as an accessible model of evangelism. Each term we encourage the church to invite friends and family to try Alpha and to explore the big questions of life, faith and meaning. We have seen guests double on last year and we are doing so without a high turnover over of volunteers to run alpha. Instead, we have a small, committed team serving term by term with a passion for helping guests on their faith journeys. We have also seen this of social action involvement, with a small crew volunteering for all the programs. Our ‘Spectacular’ Shows continue to grow in reputation and impact. Telling the Easter and Christmas stories to over 200 guests per showing with multiple showings across the day. And we continue to see a huge increase in attendance numbers from last year at our other big events such as our Light Parties, Christmas Family Markets and Crib services. ## _**Group and Crew Involvement**_ Every other week people from the congregation gather in smaller groups in homes across the area, to study, pray, and read the bible together. These groups continue to be a place where people can find belonging and grow in their journeys of faith. Our Crews are the teams of volunteers that serve every area in the life of the Church. Worship & Production, Home (Hospitality), Prayer, Kids, Youth and Bless the Bay. Crews meet twice a term for training and encouragement, and they serve throughout the week in various events and services. ## **Financial Review** The total unrestricted income for the year was £204,349 (2024: £165,832) of which £170,301 (2024: £133,940) was donations. The £289,442 (2024: £714,386) of restricted income includes £286,514 (2024: £600,114) of Strategic Development Fund income from the Archbishops’ Council. £581,302 (2024: £811,313) was spent to provide Christian ministry at Bay Church. The amount also includes £265,127 spent on major improvements to the church and hall buildings, of which £263,699 was funded through the Strategic Development Fund income. The net result for the year was a surplus of £53,754 (2024: Deficit of £8,187) on Unrestricted Funds and a deficit of £141,265 (2024: Deficit of £77,092) on Restricted Funds. ## **Reserves Policy** The CIO aims to hold free reserves broadly equivalent to 3 months’ expenditure (£70,000) for the following reasons: 1. To manage cash flow and contractual obligations; 2. In case of significant building maintenance being required; and 3. Against loss of income whilst buildings are not available for rental. However, as this is only the CIO’s forth year of activity and the majority of expenditure is funded through the Strategic Development Fund (SDF) grant, the trustees have agreed to operate with a higher reserves balance in the short term, to allow a buffer as the SDF grant reduces in future years. The total net assets as at the year-end were £199,591 (2024: £287,102, and of these £193,732 (2024: £139,978) is unrestricted and £5,859 (2024: £147,124 is restricted reserves. ## **Going Concern** The financial statements have been prepared on the going concern basis. There are no material uncertainties related to events or conditions that may cast significant doubts upon the CIO’s ability to continue as a going concern. _2_ Docusign Envelope ID." 84E2874(k65AC4F14-8l97-8886EAc2￿6 Safeguardlnl The CIO has complied wtth the duty under section 5 of the Safeguarding and Clergy Discipline Measure 2016 (duty to comply with the House of Bishopg guidance on safeguarding children and vulnerable adults). Volunteers The trustees of the ao would like to thank all the volunteer5 who work so tirelwlyto make our thurch a lively and vibrant communty. Structu￿. Governance and Management The method of appointment of ao trustees is set (xrt in the Cl(Ys consttttrtion. The CIO comprises the MSnlster licensed by the Bishop of Exeter to lead the Mission Initiative Iwho will act in an ex-officio capacity) and up to 6 other triJstee5, who will be appointed by the existi￿ trustees. The ao trustees are responsible for making decisions on all matters of general concern and Importan￿ in the thurch, and for all finanaal m*ter5. The full ao met 4 times during the year. AdminlslJative Infomiation The Church 15 SFtuated in S3nd5 Road, Paignton. TQ4 6HA and is part of the Torbay tkanery, in the Diocese of Exeter. The correspondence address 15 Bay Church St Andrthrfs, Sands Road. Paignton. TQ4 6H Bay Church (Torbayl is a CharFtable Incorporated Organisatron and registered with the Charity Cornmissicm, Charity Nu￿ber 1194618. Trustees who have served from l July 2024 until the date this rem vras approved were: The Ministsr {ex-offldol Rev Matt Bray ICJ)air) Appointed Members Mr Neil Williams Mrs Virtoria Lovell Mr5 Jan Mile5 Mr Peter Sharp Mrs Beth fjnque Mr Mike Nixon Mr Steve Edwards (Re5igned2* August2024) Key management personnel indude all members of the ao as well as the Operations Direttor Imatt Martinl. Appmved bythe Trn5tees on 23rdApn"12026 andsigned on its beholf br. Rt4T Matt Brnylowirl Docusign Envelope ID: 84E28740-65AC-8F14-8197-8886EAC29046 ## • **Independent examiner's report on the accounts** **Section A Independent Examiner’s Report** • **Report to the trustees of** Bay Church (Torbay) **On accounts for the year ended Set out on pages** 7 – 17 30 June 2025 **Charity no** 1194618 **(if any)** I report to the trustees on my examination of the accounts of the above charity (“the Trust”) for the year ended 30 June 2025. **Responsibilities and basis** As the charity's trustees, you are responsible for the preparation of the accounts **of report** in accordance with the requirements of the Charities Act 2011 (“the Act”). I report in respect of my examination of the Trust’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination, I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act. **Independent Examiner’s** The charity’s gross income exceeded £250,000 and I am qualified to undertake **Statement** the examination being a member of the Institute of Chartered Accountants in England & Wales. I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination (other than that disclosed below *) which gives me cause to believe that in, any material respect: - the accounting records were not kept in accordance with section 130 of the Charities Act; or - the accounts did not accord with the accounting records; or - the accounts did not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair’ view which is not a matter considered as part of an independent examination. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. **Signed & Dated:** Date 24/04/2026 **Name:** Ian Barrett **Relevant Professional** FCA FCIE **Qualification(s) or body: Address:** 22 Union Street, Newton Abbot, TQ12 2JS _4_ Docusign Envelope ID: 84E28740-65AC-8F14-8197-8886EAC29046 ## **Bay Church (Torbay) STATEMENT OF FINANCIAL ACTIVITIES Period Ending 30 June 2025** |||**Unrestricted**|**Restricted**|**Total**|**Unrestricted**|**Restricted**|**Total**| |---|---|---|---|---|---|---|---| |||**Funds**|**Funds**|**2025**|**funds**|**Funds**|**2024**| ||**Notes**|**£**|**£**|**£**|**£**|**£**|**£**| |INCOME FROM|||||||| |Donations and legacies|**2a)**|170,301|287,764|458,065|133,940|714,386|848,326| |Charitable activities|**2b)**|24,234|1,678|25,912|20,262|-|20,262| |Other trading activities|**2c)**|9,814|-|9,814|11,950|-|11,950| |Investments|**2d)**|-|-|-|40|-|40| |||__________________|_________________|__________________|__________________|_________________|__________________| |**TOTAL INCOME**||204,349|289,442|493,791|165,832|714,386|880,218| |||__________________|_________________|__________________|__________________|_________________|__________________| |EXPENDITURE ON|||||||| |Charitable activities|**3a)**|150,595|430,707|581,302|174,019|637,294|811,313| |Raising funds|**3b)**|-|-|-|-|-|-| |||__________________|_________________|__________________|__________________|_________________|__________________| |**TOTAL EXPENDITURE**||150,595|430,707|581,302|174,019|637,294|811,313| |||__________________|_________________|__________________|__________________|_________________|__________________| |**Net income/(expenditure) before investment**|||||||| |**gains/(deficits)**||53,754|(141,265)|(87,511)|(8,187)|77,092|68,905| |Net gains/(deficits) on investments||-|-|-|-|-|-| |||__________________|_________________|__________________|__________________|_________________|__________________| |**NET INCOME/(EXPENDITURE)**||53,754|(141,265)|(87,511)|(8,187)|77,092|68,905| |Transfers|**13**|-|-|-|-|-|-| |Reserves brought forward|**12**|139,978|147,124|287,102|148,165|70,032|218,197| |||____________________|_________________|____________________|____________________|_________________|____________________| |Reserves carried forward||193,732|5,859|199,591|139,978|147,124|287,102| |||__________________|__________________|____________________|____________________|__________________|__________________| _5_ Docusign Envelope ID." 84E2874(k65AC4F14-8l97-8886EAc2￿6 Bay Church ITorbav) BALANCE SHEET at 30Junt 2025 2025 2024 FIXED ASSErs Tangible fixed assets 107.686 107,686 97,120 97,120 CURRENT ASSETS Debtors and prepaymerrts Cash at bank and in hand 10,957 86,823 97.780 21.306 226,128 LIABILMES Creditors- amounts falling due within one year 247.434 5,875 57,452 Netturrent assets NEf ASSETS 91,￿5 199.591 189,982 287,102 CIO FUNDS Unrestrfcted re5er¥e5 General Designated li 193.732 139,978 193.732 Restrlrted reSer￿S 139,978 147,124 287,102 5.859 199.591 These financial statements V￿re approved by the tntstees on 23rd April 2026 and were Signed on its behalf bv: Lddkn Rev Matt Bray Chair Mr Neil Williams Trustee Docusign Envelope ID: 84E28740-65AC-8F14-8197-8886EAC29046 |**Notes**
**Cash flows from operating activities**
**_Net cash provided by/(used in) operating_**
**_activities_**
**1**
**Cash flows from investing activities**
Proceeds from the sale of investments
Purchase of tangible fixed assets
Purchase of investments
**_Net cash provided by/(used in) investing activities_**
**_Change in cash and cash equivalents in the_**
**_reporting period_**
**Cash and cash equivalents at the beginning of the**
**reporting period**
**_Total cash and cash equivalents at the year end_**
**2**
**1**
**Reconciliation of net income/(expenditure)**
**to net cash flows from operating activities**
**_Net income for the reporting period (as per_**
**_the Statement of Financial Activities)_**
**Adjustments for:**
Depreciation
Dividends, interest and rents
Gain on investments
(Increase)/decrease intangible fixed assets
(Increase)/decrease in debtors
Increase/(decrease) in creditors
**_Net cash provided by/(used in) operating_**
**_activities_**
**2**
**Analysis of cash and cash equivalents**
**_Cash at bank and in hand_**|**__**
_|**2025**
**£**
(139,305)
-
-
-
___________________
-
(139,305)
226,128
___________________
86,823
___________________
**2025**
**£**
**(87,511)**
**21,951**
**-**
**-**
**(32,517)**
**10,349**
**(51,577)**
**________________**
**(139,305)**
________________
**86,823**
________________||**2024**
**£**
141,667
-
-
-
| |---|---|---|---|---| |||||__________________
-
141,667
84,461
| |||||__________________
226,128
__________________| |||||**2024**
**£**
68,905
17,306
-
-
-
(655)
56,111
__________________
141,667
__________________| ||
__|||
226,128
__________________| _7_ Docusign Envelope ID: 84E28740-65AC-8F14-8197-8886EAC29046 **Bay Church (Torbay) NOTES TO THE FINANCIAL STATEMENTS Period Ending 30 June 2025** ## **1. Accounting policies Basis of preparation** The financial statements have been prepared under the Charities Act 2011 and in accordance with Church Accounting Regulations 2006 together with the Charities Statement of Recommended Practice (Charities SORP (FRS 102)) and Financial Reporting Standard 102 (FRS 102). The financial statements have been prepared under the historic cost convention. The CIO meets the definition of a public benefit entity under FRS 102. The financial statements are prepared in sterling, which is the functional currency of the CIO. ## **Going concern** The financial statements have been prepared on the going concern basis. There are no material uncertainties related to events or conditions that may cast significant doubts upon the CIO's ability to continue as a going concern. ## **Funds** General funds represent the funds of the CIO that are not subject to any restrictions regarding their use and are available for application on the general purposes of the CIO. Funds designated for a particular purpose by the CIO are also not restricted. Restricted funds are income funds that must be spent on restricted purposes and details of the funds held and restrictions provided are shown in the notes to the accounts. The financial statements include all transactions, assets and liabilities for which the CIO is responsible in law. They do not include the accounts of the church groups that owe their main affiliation to another body nor those that are informal gatherings of church members. ## **Income** ## _Donations and legacies_ Planned giving, collections and general donations are recognised only when received. Gift aid recoverable on donations is recognised when the donation is received. Grants and legacies to the CIO are recognised as soon as the CIO is notified of its legal entitlement, the amount due is quantifiable and its ultimate receipt by the CIO is probable. ## _Charitable activities_ Income from church fee income is recognised when the fee is due. Income from activities is accounted for gross. ## _Other trading activities_ Rental income is recognised when the rent is due. Where income is received in advance, it is recognised in the year in which the event takes place that it relates to. ## _Investments_ Interest entitlements are accounted for as they accrue. _8_ Docusign Envelope ID: 84E28740-65AC-8F14-8197-8886EAC29046 **Bay Church (Torbay) NOTES TO THE FINANCIAL STATEMENTS Period Ending 30 June 2025** ## **1. Accounting policies (continued)** ## **Expenditure** _Raising_ funds Expenditure on raising funds is accounted for on the accruals basis. ## _Charitable activities_ Expenditure on charitable activities is accounted for on the accruals basis. Grants are accounted for when paid over, or when awarded, if that award creates a binding obligation on the CIO. ## **Tangible fixed assets** ## _Consecrated land and buildings and moveable church furnishing_ Consecrated and beneficed property is excluded from the accounts by s10(2)(a) of the Charities Act 2011. No value is placed on moveable church furnishings held by the churchwardens of Paignton Parish on special trust for the CIO and which require a faculty for disposal since the CIO considers this to be inalienable property. All expenditure incurred during the year on consecrated or beneficed buildings and moveable church furnishings, whether maintenance or improvement, is written off as expenditure in the SOFA and separately disclosed. ## _Other fixed assets_ Other fixed assets are recognised at cost. Individual assets with a purchase price less than £1,000 are written off when the asset is acquired. Depreciation has been provided on other fixed assets on a straight-line basis in order to write off the cost of the assets over the following estimated useful lives: - Fixtures and fittings - 7 years - Computers and equipment - 7 years ## **Debtors** Amounts owing to the charity at 30 June in respect of fees, rents or other income are shown as debtors less provision for any amounts that may prove uncollectable. These are recognised initially at the settlement amount. Prepayments are valued at the amount prepaid, net of any trade discounts due. ## **Cash and cash equivalents** Cash and cash equivalents include cash in hand, deposits held at call with banks, and other short-term liquid investments with original maturities of three months or less. ## **Creditors** Creditors are recognised when the charity has an obligation at the balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Creditors are recognised at the amount that the charity anticipates it will pay to settle the debt or the amount it has received as advanced payment for the goods or services it must provide. ## **Financial instruments** The CIO only has financial assets and liabilities of a kind that qualify as basic financial instruments. All (including debtors and creditors) are initially recognised at transaction value and subsequently measured at their settlement value. _9_ Docusign Envelope ID: 84E28740-65AC-8F14-8197-8886EAC29046 ## **Bay Church (Torbay)** ## **NOTES TO THE FINANCIAL STATEMENTS Period Ending 30 June 2025** |**2**
**Income from:**
**Unrestricted**
**Funds**
**Restricted**
**Funds**
**£**
**£**
**2a)**
**Donations and legacies**
Planned giving
108,802
-
Gift aid recoverable
15,725
-
Collections
15,682
-
SDF grants
-
286,514
CRT grants
-
1,250
Other grants
30,092
-
__________________
__________________
170,301
287,764
**2b)**
**Charitable activities**
Weddings, Christenings & Funerals
1,422
-
Fundraising
22,812
1,678
__________________
__________________
24,234
1,678
**2c)**
**Other trading activities**
Church venue rental
9,814
-
__________________
__________________
9,814
-
**2d)**
**Investments**
Dividends and interest
-
-
__________________
__________________
-
-
__________________
__________________
**Total income**
204,349
289,442

|**Total**
**2025**
**£**
108,802
15,725
15,682
286,514
1,250
30,092
__________________
458,065
1,422
24,490
__________________
25,912
9,814
__________________
9,814
-
__________________
-
__________________
493,791|**Total**
**2024**
**£**
103,856
19,731
10,353
600,114
1,000
113,272
__________________| |---|---|---| |||848,326
240
20,022
__________________| |||20,262
11,590
__________________| |||11,590
40
__________________| |||40
__________________| |||880,217| _10_ Docusign Envelope ID: 84E28740-65AC-8F14-8197-8886EAC29046 ## **Bay Church (Torbay)** ## **NOTES TO THE FINANCIAL STATEMENTS Period Ending 30 June 2025** |**3**
**Expenditure on:**
**Unrestricted**
**Funds**
**Restricted**
**Funds**
**£**
**£**
**3a)**
**Charitable activities**
Missionary and charitable giving (Note 6)
420
-
Hospitality
-
-
Clergy and staff expenses
6,793
2,590
Services and Groups
16,725
37
Projects and Events
40,435
2,941
Staff costs (Note 4)
-
159,780
Maintenance and repairs
25,869
-
Major improvements (church and hall)
1,457
263,670
Church running costs
11,798
-
Church hall running costs
11,279
-
Administrative costs
11,353
59
Depreciation
21,951
-
_Support and governance costs_
Legal and professional fees
1,951
1,630
Independent examiner's fee
564
-
___________________
___________________
150,595
430,707
**Unrestricted**
**Funds**
**Restricted**
**Funds**
**£**
**£**
**3b)**
**Raising funds**
Fundraising costs
-
-
___________________
___________________
**Total expenditure**
-
-
___________________
___________________
**4**
**Staff costs**
Wages and salaries
Social security costs
Employer's pension contributions
Average number of employees
Average number of full-time
equivalent employees|**Total**
**2025**
**£**
420
-
9,383
16,762
43,376
159,780
25,869
265,127
11,798
11,279
11,412
21,951
3,581
564
___________________
581,302
**Total**
**2025**
**£**
-
___________________
-
___________________
**2025**
**£**
119,294
29,736
10,750
__________________
159,780
__________________
**2025**
5.48
4.95|**Total**
**2024**
**£**
305
-
7,360
22,436
45,849
157,157
18,422
473,577
12,715
11,007
12,035
17,306
32,604
540
___________________
811,313
**Total**
**2024**
**£**
-
___________________
-
___________________
**2024**
**£**
114,574
30,438
12,145
__________________
157,157
__________________
**2024**
5.71
5.30| |---|---|---| During the year the CIO did not employ anyone who earned £60,000 per annum or more. Total employee benefits (including pension and employer's national insurance contributions) to key management personnel were £36,375. _11_ Docusign Envelope ID: 84E28740-65AC-8F14-8197-8886EAC29046 ## **Bay Church (Torbay) NOTES TO THE FINANCIAL STATEMENTS Period Ending 30 June 2025** ## **5 Related party transactions** Fiona Bray (Finance Assistant) is married to Matt Bray (Project Lead) and Faith Martin (Worship, Productions & Creative Pastor) is married to Matt Martin (Operational Director and a member of key management personnel). During the year to 30 June 2025, the charity received £18,644 in donations (2024: £16,700) from the CIO trustees, key management personnel and persons closely connected to them. The donors did not attach any conditions to their gifts which required the charity to significantly alter the nature of its existing activities. Clergy and staff claimed expenses of £991 (2024: £591) during the year for travel, subsistence, office supplies and the cost of communications. No other transactions were undertaken with any other CIO member, persons closely connected to them or related parties. ## **6 Missionary and charitable giving** |Subsidising Focus Fees
Giving to other charitable organisations|**2025**
**£**
-
420
________________
420
________________|**2024**
**£**
-
305
________________
305
________________
-| |---|---|---| ## **7 Tangible fixed assets** |**Lighting & AV**
**equipment**
**Fixtures and**
**fittings**
**Computers and**
**equipment**
**£**
**£**
**£**
**Cost**
Brought forward
-
76,232
44,918
Additions
24,066
-
8,450
___________________
___________________
___________________
Carried forward
24,066
76,232
53,368
**Depreciation**
Brought forward
-
14,898
9,131
Charge for year
3,438
10,889
7,624
___________________
___________________
___________________
Carried forward
3,438
25,787
16,755
**Net book value**
Carried forward
20,628
50,445
36,613
___________________
___________________
___________________
Brought forward
-
61,334
35,787
___________________
___________________
___________________
**8**
**Debtors and prepayments**
**2025**
**£**
Tax recoverable
10,908
Prepayments
-
Other debtors
49
___________________
10,957|**Total**
**£**
121,150
32,516
___________________
153,666
24,029
21,951
___________________
45,980
107,686
___________________
97,120
___________________
**2024**
**£**
19,731
-
1,575
___________________
21,306| |---|---| ___________________ ___________________ _12_ Docusign Envelope ID: 84E28740-65AC-8F14-8197-8886EAC29046 ## **Bay Church (Torbay) NOTES TO THE FINANCIAL STATEMENTS Period Ending 30 June 2025** ## **9 Creditors and accruals** |**Creditors and accruals**||| |---|---|---| ||**2025**|**2024**| ||**£**|**£**| |Trade creditors|5,008|56,859| |Accruals|867|593| |Deferred income|-|-| |Other creditors|-|-| ||________________|________________| ||5,875|57,452| ________________ ________________ ## **10 Contingent assets** During 2021, Bay Church was awarded a Strategic Development Funding (SDF) grant of £1,499,803 by the Archbishops’ Council towards the cost of growing mission in Torbay over 5 years. An additional sum of £386,018 was awarded in late 2022 for additional capital works. This grant was applied for by the Exeter Diocesan Board of Finance (EDBF), acting as an agent on behalf of Bay Church. Operational grants are claimed in advance on a bi-annual basis. Grants for capital expenditure are claimed when contracts/tenders are signed. All moneys go through EDBF and are passed on to Bay Church. Each claim requires approval by administrators of the SDF to ensure it is in line with the original budget submitted. The Archbishops’ Council reserves the right to terminate the award if it becomes substantially unlikely that Bay Church will be able to deliver its outcomes as set out in the original grant application. These performance related conditions prevent the full recognition of the grant. So far Bay Church has managed to meet the conditions, so there does not appear to be a reason why SDF income will not be available in 2025-26. Of the total grant, £1,386,895.41 has been recognised, leaving £498,925.27 as a contingent asset. ## **11 Movement in funds** |**2025**
**Brought**
**forward**
**Income**
**Expenditure**
**Gains/**
**(deficits)**
**Transfers**
**£**
**£**
**£**
**£**
**£**
**Unrestricted reserves**
General
139,978
204,349
(150,595)
-
-
Designated
-
-
-
-
-
______________________
__________________
______________________
_________________
__________________
139,978
204,349
(150,595)
-
-
**Restricted reserves**
SDF Project
32,531
286,514
(314,397)
-
-
LPW (Refurbishment)
58,673
-
(58,673)
-
-
Benefact Trust
(Refurbishment)
54,600
-
(54,600)
-
-
Charitable giving
1,320
2,928
(3,037)
-
-
______________________
__________________
______________________
_________________
__________________
147,124
289,442
(430,707)
-
-
______________________
__________________
______________________
_________________
__________________
287,102
493,791
(581,302)
-
-



|**Carried**
**forward**
**£**
193,732
-
______________________
193,732
4,648
-
-
1,211
______________________
5,859
______________________
199,591| |---|---| _13_ Docusign Envelope ID: 84E28740-65AC-8F14-8197-8886EAC29046 ## **Bay Church (Torbay) NOTES TO THE FINANCIAL STATEMENTS** ## **Period Ending 30 June 2025** |**2024**
**Unrestricted**
**reserves**
General
Designated
**Restricted reserves**
SDF Project
LPW (Refurbishment)
Benefact Trust
(Refurbishment)
Charitable giving|**Brought**
**forward**
**£**
148,165
-
______________________
148,165
65,435
-
-
4,597
______________________
70,032
______________________
218,197
______________________|**Income**
**Expenditure**
**Gains/**
**(deficits)**
**Transfers**
**£**
**£**
**£**
**£**
165,832
(174,019)
-
-
-
-
-
-
__________________
______________________
_________________
__________________
165,832
(174,019)
-
-
600,113
(633,017)
-
-
58,673
-
-
-
54,600
-
-
-
1,000
(4,277)
-
-
__________________
______________________
_________________
__________________
714,386
(637,294)
-
-
__________________
______________________
_________________
__________________
880,218
(811,313)
-
-
__________________
______________________
_________________
__________________|**Carried**
**forward**
**£**
139,978
-
______________________
139,978
32,531
58,673
54,600
1,320
______________________
147,124
______________________
287,102
______________________| |---|---|---|---| ## **Unrestricted funds** These unrestricted funds represent those funds available to apply to the CIO’s general church activities. ## **Restricted funds** ## _Charitable giving_ This fund is where there have been collections for specific charities. The amounts would have been distributed shortly after their receipt. ## _Strategic Development Fund (SDF) Project_ This fund contains the SDF income that has either been received or is receivable. The carried forward balance is earmarked to cover salary costs in the following year. |**12**|**Analysis of Assets and liabilities between funds**|||| |---|---|---|---|---| ||**2025**|**Unrestricted**|**Restricted**|**Total**| |||**funds**|**funds**|| |||**£**|**£**|**£**| ||Tangible fixed assets|107,686|-|107,686| ||Debtors and prepayments|10,957|-|10,957| ||Cash at bank and in hand|77,034|9,789|86,823| ||Current liabilities|(1,945)|(3,930)|(5,875)| |||______________________|___________________|______________________| ||Net assets|193,732
______________________|5,859
___________________|199,591
______________________| _14_ Docusign Envelope ID: 84E28740-65AC-8F14-8197-8886EAC29046 **Bay Church (Torbay) NOTES TO THE FINANCIAL STATEMENTS** **Period Ending 30 June 2025** |**Analysis of Assets and liabilities between funds**|||| |---|---|---|---| |**2024**|**Unrestricted**|**Restricted**|**Total**| ||**funds**|**funds**|| ||**£**|**£**|**£**| |Tangible fixed assets|97,120|-|97,120| |Debtors and prepayments|21,306|-|21,306| |Cash at bank and in hand|31,488|194,640|226,128| |Current liabilities|(9,936)|(47,516)|(57,452)| ||______________________|___________________|______________________| |Net assets|139,978
______________________|147,124
___________________|287,102
______________________| _15_