DoGusign Envelope ID". 973250D9-CBAC4A07.89C9-E19F43FDCD3D Peckham Park Road Baptist Church Registered Charity Number: 1194671 ANNUAL REPORT AND ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2025
DoGusign Envelope ID". 973250D9-CBAC4A07.89C9-E19F43FDCD3D Peckham Park Road Baptist Church Contents of the Financial Statements for the Year Ended 31 March 2025 Page Report of the Trustees Independent Examiner's Report Statement of Financial Activities Balance Sheet Notes to the Financial Statements 7-14
DoGusign Envelope ID". 973250D9-CBAC4A07.89C9-E19F43FDCD3D Peckham Park Road Baptist Church Trustee's. Report For the year ended 31 March 2025 The Trustees present their annual report together wth the financial statements of Peckham Park Road Baptist Church for the year ended 31 March 2025. The Trustees confirm that the Annual report and financial statements of the charity comply with the current statutory requirements, the requirements of the charity's governing document and the provisions of the Statement of Recommended Practice Charities FRS 102 ISORPI Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the financial reporting standard applicable in the UK and Republic of Ireland {effeclive January 20151. Charity Name.. Peckham Park Road Baptist Church Charity registration number." 1194671 Registered office." Peckham Park Road Baptist, 121 Peckham Park Road, London, SE15 6SX Board of Trustees: The trustees in Offi during the year were as follows.. Reverend Ann Luther (Chairl Ms Winifred Kanu Mrs Alice Jenkins Andrew Simon Webber Abiodun Opara Accountants: Moore Kingston Smith LLP, Orbital House, 20 Eastern Road, Romford RM13PJ Objectives of the charity The principal purposes of Peckham Park Road Baptist Church IPPRBCI are'.- The advanment of the Christian faith according to the principles of the Baptist denomination. The Church may also advance education and carry out other charitable purposes in the United Kingdom andlor other parts of the world. Revigw of Progress During this year the Church continued lo run a regular programme of weekly worship seNices and prayer and study groups which are open to everyone. Our Sunday morning congregation has not returned to pre-covid levels. At present there are 56 members on the Church roll. During this year we have reviewed our membership situation as people were unsure of membership criteria. We spent several months deciding what these should be and providing a 'membership renewal, opportunity. This will continue lo be worked through in the present year. During the Summer of this year there were six deaths within the fellowship, with ages ranging from a neonatal boy lo a 9>year-old great grandma. The cumulative effect of this loss was heavy and was added lo by a further death of a Church founder at the end of the year. In response the Church enabled the Pastor lo have a 6 week extended break In the first quarter of 2025. Page 1
DoGusign Envelope ID". 973250D9-CBAC4A07.89C9-E19F43FDCD3D Peckham Park Road Baptist Church Trustee's. Report For the year ended 31 March 2025 Revlew of Progress cont. Our midweek Work with children and youth has continued throughout the year, staffed by our Children and youth team. The Church runs a weekly Kidsclub along with trips and sleepovers during school holidays. A new development this year was of a youth football team whieh trains weekly and has a 'focus' session along with a meal each week. Revlew of Flnanclal Posltlon The lolal receipts on unreslricled funds was £79,05712024.' £65,182). This includes both Church offerings and rental incomes from user groups. Restricted donations of £4,30012024". £1,599) were also received and are detailed In the financial slalement. The Gift A'd received showed a decrease from the previous year. £15,89512024.. £17,0401 was spent on salaries in whole year. No part-time Church administrator was employed in current year. The nel result for the year was an excess of expenditure over receipts of £7,48412024'. £3,294 income). Statement of Publlc Beneflt The Church premises continued to work 8S 8 Community Hub through the year. The LOVO organis8lion h8S continued to run their Women's Centre in the premises for 5 days a week, and the Green Olives after-school club has continued. During the year the Church has also hosted a fundraising Garden Paty for Mind the Gap organisation and also a comedy night in the Autumn. We are situated in an area where there is a growing amount of property development lo the detriment of the local neighbourhood. Community space is decreasing and we have recently been able lo offer space lo several local community groups al affordable rents. Our own activities are open to all our community. They include a women's centre, a Kidsclub, an annual seaside coach trip and holiday youth projects. Reserves Policy 11 is Church policy to carry maintain savings which would cover 3 months of the Church continuing to operate. This amount of £5,550 in the Investment fund did not meet this target. Future Developments We are continuing lo look at ways of developing the ministry of the Church, especially with a view to connecting more effectively with young adults. Our possible amalgamation with 2 other local Baptist Churches Continues. We have a joint service and a leaders meeting together every month and the solicitors are carrying out the necessary legalities. Page 2
DoGusign Envelope ID". 973250D9-CBAC4A07.89C9-E19F43FDCD3D Peckham Park Road Baptist Church Trustee's. Report For the year ended 31 March 2025 statement of Trustees. Responsibilities The Trustees are responsible for preparing the Trustees, Report and the financial slalements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Praclicel. The law applicable to charities in England and Wales requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the stale of affairs of the Charity and of the incoming resources and application of resources for that period. In preparing those financi81 statements the Trustees are required lo". Select suitable accounting policies and then apply them consistently., Observe the methods and principles in the Charities SORP", Make judgments and estimates that are reasonable and prudent., Prepare the financial statements on a going concern basis unless it is inappropriate to presume that the charity will continue In business. The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy al any lime the financial position of the charity and to enable them lo ensure the financial statements comply with the Charities Act 2011, the Charities SORP and the provisions of the trust deeds. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. This report has been approved by the Executive Committee and signed on their behalf 8b3n•dbr. 221812025 78GA409f4Fo&É1......................... Date.. Reverend Ann Luther Chair and Reverend Page 3
DoGusign Envelope ID". 973250D9-CBAC4A07.89C9-E19F43FDCD3D Independent Examiner's Report to the Trustees of Peckham Park Road Baptist Church For the year ended 31 March 2025 I report lo the Iruslees on my examination of the accounts of Peckham Park Road Baptist Church for the year ended 31 March 2025. Responsibilities and basis of report As the charity trustees of the Trust you are reswnsible for the preparation of the accounts in accordance with the requirements of the charib.es Act 2011 I'lhe Acfl. 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 14515llbl of the Act. Independent examiner's ststement I have completed my examination. I confirm that no mallers have come to my attention in connection wth the examination giving me cause lo believe.. accounting records were not kept in respect of the Trust as required by section 130 of the Act", or the accounts do not accord with those records. the accounts do not comply with the applicable requirements concerning the form and content of accounts sel 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 lo enable a proper understanding of the accounts to be reached. Karen Wardell Partner. Moore Kingston Smith LLP For and on behalf of Moore Kingston Smith LLP Chartered Accountsnts Date. 22 August 2025 Orbital House 20 Eastern Road Romford RM1 3PJ Page 4
DoGusign Envelope ID". 973250D9-CBAC4A07.89C9-E19F43FDCD3D Peckham Park Road Baptist Church Statement of Financial Activities For the year ended 31 March 2025 Restricted Funds 2025 Unrestricted Funds 2025 Total Funds 2025 Total Funds 2024 Notes Income from: Donations and grants 40,393 40,393 36,310 Other income 4,300 38,459 42,759 30,329 Investment income reiVed 205 205 143 Total 4,300 79,057 83,357 66,782 Ex nditure on: Raising funds Charitable activib'es 6,167 84,674 90,841 63,488 Total 6,167 84,674 90,841 63,488 Net Incomellexpendlturel 11,8671 15,6171 17,4841 3,294 Transfers beeen funds Other recognised gainslllossesl: Actuarial Ilossesllgains on defined benefit pension schemes Net movements in funds 11,8871 {5.6171 17.4841 3.294 Reconciliation of funds: Fund balance al 1 April 2024 Fund balance al 31 March 2025 7,426 5.559 9,211 3.594 16,637 9.153 13,343 16.637 The notes on pages 7 10 14 form part of these financial statements. All incoming resources and reSoUrS expended derive from continuing activib"es. There are no recognised gains or losses other than the surplus for the year. A separate Income and Expenditure Account has not been prepared as it would not materially differ from the Statement of Financial Aclivrties. Page 5
DoGusign Envelope ID". 973250D9-CBAC4A07.89C9-E19F43FDCD3D Peckham Park Road Baptist Church Balance sheet As at 31 March 2025 2025 2024 Notes Fixed Assets 1,795,145 1,796.452 Current Assets Cash at bank 7,877 1,803,022 10,793 1,807,245 Current Liabilities Creditors." amount5 falling due within one year 3,869 607 Net assets excluding pension liability 1,799,153 1,806,638 Defined benefit pension scheme liability Net assets 1799 153 1806 638 Represented by: Unrestricted funds Revaluation reserve Pension reserve Restricted funds 3,594 1,790,000 9,211 1,790,000 5,559 7.426 Total funds 1799 153 1806 638 The Annual Report and Accounts were approved for issue by the Executive Committee and signed on their behalf by: Date.. 2218r2025 FBCA409F*FOF430......................... Rev Ann Luther Chair and Reverend The notes on pages 7 10 14 form part of these financial statements. Page 6
DoGusign Envelope ID". 973250D9-CBAC4A07.89C9-E19F43FDCD3D 4oad Baptist Church Notes to the Financial Statements For the year ended 31 March 2025 Accounting Policies Charity information Registered Offi.. Peckham Park Road Baptist, 121 Peckham Park Road, London, SE15 6SX Basis of preparation These financial statements are prepad on a going concern basis, under the historical cost convention modified for the revaluation of listed investments and rtain property assets which are accounted for at market value. The financial statements have been prepared in accordance with Section 1A of FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland I'FRS 102,1, including update Bulletin 2. The Charity is a public benefit entity for the purposes of FRS 102 and therefore the charity also prepared its financial statements in accordance with the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial ReFX)rting Standard applicable in the UK and Republic of Ire18nd (The FRS 102 ch8rib.es SORPI, and the Charities Act 2011. The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial slalements are rounded lo the nearest pound. Going concem The Iruslees have assessed whether the use of the going concern basis is appropriate and have onsidered possible events or conditions that might cast significant doubt on the ability of the charitable entity to continue as a going concern. The trustees have made this assessment for a period of al least one year from the dale of approval of the financial statements. In particular the trustees have considered the charitable entity's forecasts and projections and have taken account of pressures on donation and investment income. After making enquiries the trustees have concluded that there Is a reasonable expectation that the charitable entity has adequate reSoUrS to continue in operational existence for the foreseeable future and there are no material uncertainties. The trustees therefore Continues to adopt the going concern basis in preparing its financial stslements. Fund$ Unrestricted funds represent the funds of the trustees that are not subject lo any restrictions regarding their use and are available for application on the general purposes of the charity. The restricted funds can only be spent on the purpose for which they were given. The accounts include all transactions, assets and liabilities for which the Iruslees is responsible in law. They do not include the accounts of church groups that owe their main affiliation to another body or those that are informal gatherings of church members. Page 7
DoGusign Envelope ID". 973250D9-CBAC4A07.89C9-E19F43FDCD3D 4oad Baptist Church Notes to the Financial Statements For the year ended 31 March 2025 Income All income is included in the statement of financial activities when the charity is entitled to receive the income and the amount can be quantified with reasonable accuracy. The following policies are applied to particular categories of income". Donations and grants Planned giving receivable under covenant is recognised only when received. Income lax recoverable on covenants or gift aid donations is recognised when the income is recognised. Grants and legacies are accounted for as soon as the trustees are notified of its legal entillement, the amount due is measurable and ils ultimate receipt is probable. other Income Minibus Hire income from letting of mini bus is recognised when rental is due. Rental income from the letting of church owned property is recognised when the rental is due. Investment Income Interest is accounted for when receivable. Expenditure Expenditure is recognised on an accrual basis as a liability is incurred. Expenditure includes VAT, and is reported as part of the expenditure lo which it relates.. Raising funds Costs of raising funds comprise the costs associated wlh attracts.ng voluntsry income. Charitable expenditure Comprises those costs incurred by the charity in the delniery of ils activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary lo support them. All costs are allocated beeen the expenditure categories of the SOFA on a basis designed to reflect the use of the resource and sel out in Note 4. Financial instruments The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are inilialty recognised at transaction value and subsequently measured at their settlement value. Fixed Assets Incomg generating property Income generating propety is shown at fair value. The Church hall is held at ils fair value as independenuy valued In 2019. Tangible fixed assets are initially merasured at cost or valuation, net of depreciation and any impaired losses. Depeciation is recognised so as lo write off the cost or valuation of assets less their residual values over their useful lives on the following basis.. IT equipment Plant & Machinery Fixtures and fittings 33.330/0 Straight line over the period of 10 years 250/0 Straight line Page 8
DoGusign Envelope ID". 973250D9-CBAC4A07.89C9-E19F43FDCD3D 4oad Baptist Church Notes to the Financial Statements For the year ended 31 March 2025 Pension costs The costs of retirement benefits are provided through the Baptist Pension Scheme, a Multi-employer scheme. The Church also recognises its liability in respect of deficit reduction arrangements of the historic defined benefit section of the Baptist Pension Scheme for two previous officers of the Church. As information is not available to use defined benefit accounting, in accordance with the requirements of FRS102, the Church accounts for these payments as rf they are defined contribution schemes. The Church's contribution lo these schemes are recognised as a liability and an expense, in the period in which the salaries to which the contributions relate are payable. 1.10. Cash and cash equivalents Cash and cash equivalents include cash in hand and deposits held al call with banks. Page 9
DoGusign Envelope ID". 973250D9-CBAC4A07.89C9-E19F43FDCD3D iload Baptist Church Notes to the Financial Statements For the year ended 31 March 2025 Total income Restricted Unrestricted Funds Funds 2025 2025 Restricted Unrestricted Funds Funds 2024 2024 Total 2025 Totsl 2024 Charitsble Income Donations Gift Aid Reclaimed Church Maintenance Income Events Income 35,176 5,217 35,176 5,217 75 30,748 5,412 30,823 5.412 1,705 1,705 75 75 Other Income Hire of Church HalllFacilities Minibus Hire Rental Income Other Income Grant Income Funeral Costs Income Publicity Income 20,130 2,479 8,650 1,495 4,000 20,130 2,479 8,650 2,295 7,500 13,782 3,164 10,214 900 500 13.782 3,164 10,214 1,965 500 459 245 800 3,500 1,065 459 245 Investment Income Bank Interest Received 205 205 143 143 3 Total expenditure Restricted Unrestricted Funds Funds 2025 2025 Restricted Unrestricted Fund5 Funds 2024 2024 Total 2025 Total 2024 Costs directly allocated to activities Church Utilities Building Maintenance & Cleaning 6, 167 Council Tax Summer Day Trip FLJneral Expenses Wages & Salaries Pension Insurance Park Fun Day Spring Harvest Costs 9,819 27,464 1,793 1,154 9,81g 33,631 1,793 1,154 5,742 11,516 1,693 2,074 5,742 11.516 1,693 2,074 80 17,040 1.752 3,193 80 15,895 2,226 3,340 2,608 940 15,895 2,226 3,340 2,608 940 17,040 1,752 3,193 Support costs allocated to activities Computer and IT costs Bank Charges Motor Expenses Audit, accountancy and payroll Printing and postage House Ulililies Fees & Subscriptions Legal Fees Gifts Sundry Insurance Depreciation 75 1,835 5,666 3,585 826 1,137 1,901 1,479 30 1,594 1,307 75 1,835 5,666 3,585 826 1,137 1,901 1,479 30 1,594 90 872 6,871 2,626 1,145 1,470 2,757 1,685 702 1,599 581 90 872 6,871 2,626 1,145 1,470 2.757 1,685 702 1,599 581 All of the 2024 and 2025 expenditure related to charitable activities. Page 10
DoGusign Envelope ID". 973250D9-CBAC4A07.89C9-E19F43FDCD3D iload Baptist Church Notes to the Financial Statements For the year ended 31 March 2025 4 Trustees and Employees The charity had an average of one12024.' one) employees during the year, whose staff cost amounted to £15,89512024. £17,040). No employee received remuneration greater than £60,000 during the year12024'. none). The key management personnel are considered lo be the trustees. The trustees did not receive any remuneration nor were reimbursed expenses during the year current and preceding year. There were no other disclosable transactions in respect of trustees, persons closely connected with them or other related parties. 5 Taxation As a charity, Peckham Park Road Baptist Church is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or s256 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitsble objects. No tax charges have arisen in the Charity. 6 Tangible Fixed Assets Church Building Plant and Fixtures Machinery and Fittings Equlpment Totsl Income generating pn)perty Cost or revaluation Brought forward Additions Carried forward 1,790,000 3,220 3,430 383 1,797,033 1,790,000 3,220 3,430 383 1,797,033 Depreciation Brought forward Charge for the year Carried forward 148 322 470 380 858 1,238 53 127 180 581 1,307 1.888 Net Book Value- 2025 1,790,000 1,790,000 2,750 3,072 2,192 3,050 203 1,795,145 1,796,452 Net Book Value- 2024 330 The trustees are of the opinion that the Church hall is held at ils fair value as independently valued in 2019. 7 Creditors: Amounts falling due within one year 2025 2024 Other taxation and social security Loans payable 619 3,250 607 Page 11
DoGusign Envelope ID". 973250D9-CBAC4A07.89C9-E19F43FDCD3D . load Baptist Church Notes to the Financial Statements For the year ended 31 March 2025 8 Pensions Ba tist Pension Scheme The Church is an employer participating in the Baptist Pension Scheme I'the BPS"}, which is administered by the Pension Trustee (Baplisl Pension Trust Limited). The Scheme is a separate legal entity and the assets of the Scheme are held separately from those of the Employer and other participating employers. For any month, each participating employer in the Scheme pays contributions as set out in the Schedule of Contributions in for at that time. The Scheme is considered to be a multi-employer scheme as described in Section 28 of FRS 102. This is because it is not possible lo attribute the Scheme's assets and liabilits'es lo specific employers and means that contributions are accounted for as if the Scheme were a defined contribution scheme. The pension costs charged lo the SOFA in the year are contributions payable towards benefi'ts and expenses accrued in that year, plus any impact of deficiency contributions. The minister and some members of the church are eligible to join the Scheme. From January 2012, pension provision for the Minister land some members of staffj is being made through the Defined Contribution (DCI Plan within the BPS. In general, members pay 80/0 of their Pensionable Income and employers pay 6Q/o of members, Pensionable Income into individual pension accounts, which are operated and managed on behalf of the Pension Trustee by Legal and General Life Assurance Society Limited. In addition, the employer pays 8 further 4010 of Pensionable Income to cover Death in servi Benefits, adminislralion costs, and an associated insurance policy which provides income protection for Scheme members in the event that they are unable to work due to long-term incapacity. This income protection policy has been insured by the Baptist Union of Great Britain with Unum Limited. Members of the Basic Section pay reduced contributions of 50/0 of Pensionable Income, and their employers also pay a total of 50/0. Benefits in respect of serviee prior lo 1 January 2012 are provided through the Defined Benefit IDBI Plan wthin the BPS. The main benefits for pre-2012 serVir were a defined benefit pension of one eightieth of Final Minimum Pensionable Income for each year of Pensionable Service, together with additional pension in respect of premiums paid on Pensionable Income in excess of Minimum Pensionable Income. The BPS, previously known as the Baptist Ministers, Pension Fund, started in 1925. The scheme was closed lo future accrual of defined benefits on 31 December 2011. The scheme is not contracted out of the Slate Second Pension. The funding of the Defined Benefit IDBI part of the Baptist Pension Scheme has improved lo the point where a buy-in with an insurance company has been carried out as a first stage lo buying-out the DB which will ensure pensions will continue to be paid whilst removing risk from the Baptist family. Al the end of June 2022, the Baptist Pension Scheme signed an agreement with the insurance company Just Group I'Just'l to secure members, pension benefits under the Defined Benefit I'DB'I Plan. This agreement is referred lo as a 'buy-in policy,. 11 follows a similar agreement with Just In 2019 that covered most pensions in payment al that time. The combined agreements mean that Just are now providing financial backing for all DB pensions provided through the Scheme's DB Plan. Recovery Plan As a result of the Buy-ln, this lakes the Scheme out of a shortfall position for the first time in two decades. Although risks remain, the Baptist Union and the Trustee of the Scheme have agreed that deficit contributions from each participating employer in the DB Plan will reduce to just £1 per month from August 2022. Page 12
DoGusign Envelope ID". 973250D9-CBAC4A07.89C9-E19F43FDCD3D . load Baptist Church Notes to the Financial Statements For the year ended 31 March 2025 8 Pensions cont. The deficit contributions are based on an average share, equally weighted by employer, of the overall scheme deficit and do not reflect individual employer liabilities. Income and ex enditure The total pension cost for the Church is shown in the table below, with last year's figures shown for comparison. 2025 2024 BPS Minister section BPS deficit funding contributions BPS Staff section 1,682 122 1,682 70 1,804 1,752 No pension contributions were outstanding al the Balance Sheet dale12024.' Nil). 9 Movement in funds At1 April 2024 Incoming resources Outgoing reSoue$ At31 March 2025 2025 2025 Restrlcted funds: Restricted Building Fund Kidsclub Residential Spring Harvest Funeml costs Income 2,667 2,305 2,075 379 7,426 3,500.00 800 16,167.001 3,105 2,075 379 5,559 4,300 16,1671 Unrestricted funds.. General fund Pension reserve 9,211 79,057 184,6741 3,594 9,211 79,057 184,6741 3,594 Total funds Restricted Buildin Fund Residue building fund account- monies given Specifical for building development and gradually used for general premise maintenance. Kidsclub Residential.. Youth residential at Avon Tyrell this fund is a result of financial gifts towards the trips. Harvest. The Church gave some financial assistance towards enabling some members and also a family of asylum seekers to attend the Spring Harvest holiday. Funeral cost income.. Financial gifts received from memberfs family on the occasion of her funeral. Page 13
DoGusign Envelope ID". 973250D9-CBAC4A07.89C9-E19F43FDCD3D rEknThiiaiii rai Aoad Baptist Church Notes to the Financial Statements For the year ended 31 March 2025 9 Movement in funds cont. Movement in funds in respect of the Gomparative period.. At1 April 2024 Incoming resources 2024 Outgoing resources 2024 At31 March 2024 Transfers 2024 Restricted funds: Reslricled Building Fund Kidsclub Residential Spring Harvest Funeral costs Income 2,667 1,240 2,000 2,667 2,305 2,075 379 7,426 1,065 75 459 1,599 80 1801 5,907 Unrestricted funds: General fund Pension reserve 7,436 65,183 163,4081 9,211 7,436 65,183 163,4081 9,211 Total funds 10 Related Party Transactions During the year the charity received a loan from a close family member of a Trustee. The balance of this loan al 31 March 2025 is £3,250. 11 Comparative Statement of Financial Activities Restricted Unrestricted Funds Funds 2024 2024 Total Funds 2024 Income from: Donations and grants other income Investrnenl income received 75 1,524 36,235 28,805 143 65,183 36,310 30,329 143 66,782 1,599 Ex onditure on: Raising funds Charitsble activities 80 80 63,408 63,408 63,488 63,488 Net incomel{expenditure) 1.519 1,775 3.294 Transfers Nel movements in funds 1,519 1,775 3,294 Reconciliation of funds: Total funds brought fotward Total funds carried forward 5,907 7.426 7,436 9,211 13,343 16.637 Page 14