RF.GISTF.RF.D CIIARITY.NUMBLR: 1198633 REPORT OF THE TRUSTEES AND UliAUDITED FIPIANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 FOR PRtNCE'S DRIVE BAPTIST CHLRCH WilliaTns r)cnton Cyf Chartercd Ccrtificd Ac£ouTJtants Glaslyn Ffordd y Par Parc M¢nai Bdngor Gwyiiedd LL57 41-.E PWNCE'S DRIVE BAVTIST CHURCH CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR EN'DED 31 DF.CbMBER 2024 Page Report of the Trust¢ I to 3 Jndependeni Exlnthier's Report Statement of Fingncigl ActiYitie5 Balance Sheet r4otes to the FfiNillci*l Ststements 7 to I I Dttailed Statement of Flthaneial AclivitiL* 12 to 13 PIUNCE'S DIUVE BAPTIST CHURCH REPORT OF THF. TRUSTF.F.S FOR THE YEAR EYDED 31 DECEiIIBER 2024 The Iru5tees prtsent their Teport with die financiol slatetnet)ts of the cliarity foi the year ended 31 tkcetnber 2024. The trll4le¢5 have adopted the provision5 01. Accounting and ReP￿tIng by Charities.. Statement of Recommended Practice applieablc to chanties prq)anng thcir accounts in a¢cordan¢c wih Ihc Financial li¢porttng Standard applicable it) the UK and Rcpublic of Ircland IFRS 1021 leffeetivc l January 2019). OBJECTtVES AND ACTIVITIES Objtctives and aFm5 The aim of thc chiirch 1% that of the advancement of the Christian faith to the principlcs ofthe B3piisi denominalioll. The ¢hur¢h also aim5 to further educatc and carry out other ch2riiable PUT￿Se$ in the United Kingdom IUKI andlor other parts orth¢ world. In tiilfillii?g thc purpo.se, Ihc church will Eiiga8¢ iii a Tange of activitics cither on its or with oihtrs that will vary from time to time. Thc a¢tivitics tnay include. but are not rcstricted to. - Regulat public wor5bip, prayer. Bible smdy, preaching and tea¢hiT)g', - The Communion of Ihe Lord'b Sup￿. - Evangeli&m and mi55iun, locally, regiujdly. nationally dnd Inte￿￿tIOnallY.. . Thc IcaLliiiigJ cncvuragenient, w¢liom¢ and itttlu&ivn youtjg Frople. Nurture and growth of Chri.%tian disciplcs.. - Educatiort aiid trgining for Christian and community s¢rniCC,' - Giving enoouraging paswral ¢aY¢", Suppurting 2nd ¢ncvuraging Lharitsble SO¢idl 4ction' F.ncourhging relation8hip5 with and supp)riin8 Bapli51s and other Chrisitans. ACHIEifEMENT APID PERFORMAYCE Ch*ritabl¢ activities In 2024 we cort¢inu¢d to s¢¢ to fL]]fil our sthie41 pttr]x>se to advancc of the Christian faith according lo the pritsciples of the Baptvst denoniiThalion. We had gone thruugh a pr(K¢ss of clarifying oitr vision 8fKI valucs in 2022 and looked to build OD Ih15. We conducted wcekly s¢rvices and ￿d-week ¢v¢nts Iv d¢￿[Op our conue&ration, alongside Seeking to l)ring ble&8ing to our wider l(Kal community. In supporting local 5ucial projecLs and ¢reaiiiig bpaces to explore faith we stsyed in line Wlth our corc PUTpo%e a5 a chaT1ry 2nd church. Life events s￿h L% bap115ms, and the steady incre&%¢ in our membership are iestinjony to th¢ succcssful thlfilmcnt of our corc airns. We %aw staff chan8es in 2024 with our Assistant Mini5t¢r ￿tUrnIng io the USA in May with hi8 family, in¢luding his fe who was sctwing as QUT part-tirne administratOT. We appointed a new adminisrdtor in June and engaged in a pr￿esS vf ¢xploring OUT StatTLng owions wluch rcsulted in thc appo1n￿Cnt ot. a part-time fatnily worker in I)et¢rnb¢r 2024. We dlso supported on¢ vf 4)ur Tlletnbcrs in following a call to traits for s￿rcd1tcd Baplisi mitsisiry. Their three.yfdf'5 of training began in SepteTnber widi PDBC se￿t￿£ 35 their plac¢mcnt chur¢h. Thc dcvclopm¢nt of our 51aff tcam with ncw dppointmenis., and the addition of a Tninistcr in training m¢dns that 2025 1$ an oppO￿nitY for furthcr dcvelopm¢nt and strcngiliening Lif uui slaff and leadership tedll)s lo ruolinue to meet our dims as a cliurch and chariiy. Il'c are continuit)g i() relatc to other local churches, and Sce 2025 as a signifiLdnl year to nurtUTe thobt T¢lalionship5 and to see a gTcater unity of purptss¢ in OUT arca. Alnn&sidc that we are supporting the re-developFnenl of a Baptisi church iii Llandudno and gre forniall￿ng our partncrship thcm for rnutual support atsd bcnelii. The continued grawth of the congrcgaiinn and the rclated minisirics PTeKents challenges but ones we believe we are able to m¢ei as we Continue to pursue our charirablc objectivcs and aims. FIIYANCIAL REVIEW Prlnelpal funding sources The primary source of rcvcnue rclalcs 10 amounts rec¢iv¢d from Lhurch members. and attend¢¢s by way vf di[￿t and cash offering5 and donations; Page I PRINCE'S DRIVE BAPTIST CHLRCH RLPORT OF TIIE TRUSTF.ES FOR THE YEAR Ef4DED 31 DECF.MBER 2024 FINANCIAL REVIEW Inve5trnent policy 2nd objcethres The Church Otliccrs liave considered the m051 appropTiatc policy f4)r inv¢sting futuls. ￿thI¢￿ is ai preseni, 10 hold surplus finds on deposit at ¢he Church's banks. Reserves pollly The Chiir¢h OffiLers have eslablish¢d a policy whereby the UnTcsITiCtcd fut)ds h¢ld by the chwity should et)sure the essential cos15 1 } of a full time mini.41ry foi" six to rtine monihs. Based on the 2n24 accounis, this equatcs lo amount trtim £54,167 to £81,250 in gcncral funds. Should r£8crve ￿ndS be drawi dO￿L &s a result of unforeseen emergency, IMea5urcs will be takem to r¥store tlic resc￿e8 10 th¢ awed level within five-years.. The tM)Licy will be i¢vi¢wed dgdio ai the 2a25 AGM. (*} Essential ty)sts equate ￿ total annua] unttsttickd ¢xp¢ndiiur¢ minus expcnditurc on 8ifLs and d¢prc¢iatiOII. STRUCTUHF.. GOVERNANCE AND MANAGFMENT Governln% document T￿¢ Gharity Is controllcd by its gov¢niing documenL a d¢¢d and consutuie atl unin¢otwTrialed ¢h¥rity. Re¢rultm¢nt and appointtnent of new trustee5 Five wxks" Isundaybl before a Church mcciing. con5idcTing a bustec appoinim¢nt (re-appoinunent}, nOMiDativn￿ are iiiviled from membcrs for the roles," nominaiions musi be sllbmitt¢d in witillgi with the suppi>rting sigrnatuie uf two vllier Church Members and the consent of the ¢andidate, to the Church se¢retsry or equivalenr. The weeks (Sundays) b¢foTe The mccting the nomindtions are published ￿ the membeis for pfdyeT and consideraiion. Tru5tee5 aT2 appointed tor 1,2 or 3 years after which th¢y call be re-appoint¢d by followin￿ th¢ saine pr￿¢th￿t. In urder to avoid the entire trustee I￿Y retiring at the same time. appoinfm¢nt% are m8de for diffe￿nt duts¢ions of seThicc. The exception% ihc Sc¢retary and Trcasurer positions which are for l ye4r but can be re-nominat￿ for as t1￿￿[lY years Lf they and the tncmbeJship arc content. Or%9nis*tional strulture Prince's Drii'e Baptist ChuTch Is a Charitsble Inco￿0[ated Organisaiion (CTOI. r¢gisteMI with the Charity Commission and opcraiional troin 14 ApTiI 2022 when it traJisfctTed the asset5 alld responsibiliries of its predecc&wr organisaiiuJ4 which was ali excepted chaiity. Risk m*n&gemeDt Th¢ Chwcli OiTiL¢TS have wnducled theiT Own tGvi¢w of the majoT T15ks to which ihe charity is ￿pOsed and sysiems have been established to r]]itigaie those risks. 'fhe Church QfficcTS do not C4)nsider thcrc to be significant external risks to fvndin8. InteiTral nsks arc minirni%ed by Ihr implemcntsrion of proccdurL8 for &llthixisatton of all ￿n5￿ctiOnS And lo cnsurc Consi.￿tent qualiry of dclivery for all opeiaiional wects of the cliatity. These proLrdures are PEriudiLally rcvicwed to ensure diat they siiil mcei th¢ n¢¢(Is' c)fth¢ ¢hariiy. REFERENCE AI%D ADMINISTRATIVF. DETAILS Registered Charity numhcr 1198633 Prlncipol addre$5 Prince's Drive ColwTrm Bay CONWY LL29 8LA Page 2 PRINCE'S DRIVF, BAPTIST CIWRCH REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024 Tnjstecs Revd Dr R L Beamish- Baptist Minister Mrs L Beamish J K Finch (resi￿)ed 19.5.241 R W El'ans Iresigntd 9.7.24) B Nuss M Coulion - Treasur¢r Ms E Coulton R Lander M Gowcr Ircsigncd 9.7.241 Ms H M CJower Ms S Watson lappoint¢d 9.7.24) S Davi¢s lappuinted 9.7.24) M5 Z McNeil lappoinied 9.7.24) (resigned 17.12.241 J Graham lappK)inted 9.7.24) IDdcp¢ndcnt Fdsaminer willian￿ Dcnion Cyf Chartered C¢riifi¢d A¢¢ountsllts Glasli Ffordd y Parc Parc Mcnai Bangor Gwjmedd LL57 4FE Approved by order of the board of trnstees OD ..... and signed on i¢s behalf by.. Revd Dr R L Bcamish- Ttust Page 3 INDEPENDENT EXAMINER'S REPORT TO THE TRUSTF,ES OF PRINCE'S DRIVE BAvfisT CHURCH Independent ¢xAmlner'$ reptsrt to the Irustees of PrAnee's Drlve BgPtIst Church I report to the chdrily trustees on iny exatnjnation of the accounts ot. PTince'5 Dnve Bapti5¢ Churcli {the TTUStI tor the year ended 31 DeceTllbeT 2024. Rc5P0115ibiliti¢$ and basis Df riport A5 th¢ chdl.ity trubl¢es of th¢ Trust you are responsible fvr the preparaliun of the a¢¢tswiis in ttccordanLe wih the requirements ot lh¢ Charities Act 2011 I'ihe Art'}. I r¢pon in r¢speci of my ¢xamillaiion of the Trust'5 accounts carried out wider Seciioii 145 olthe ALI and in carrying OUL my examination I have followed all applicdble Directions given by the Lharity Commission w)d¢r Se¢lion 14515)Ibl of the Aci. Independent examiner's st8tement I have cornpleted Tny examination. I ¢ortfimi that no materiAI motters haye Come to my attention in connection w&th the examination givingy llie cause to believe tbai in any t￿terIal respe¢t'. accounting T¢cords wcre not irt re8pect of the Trust required by Section 130 of the Act; or the ar￿Unts do not a¢cord ￿)th ihose re¢grds' or the acLL)unts do hoi Comply rhe appli¢abl¢ r¢quirenYnits ¢on¢eming the forni and conieni of accounts set out in the Charilies IAccLiunt5 and Reporis) Regulations 2008 other than any requirement that the accounts &>ivc a tTU¢ and fair vi¢w whith 1$ noi a matier considered as part ol'an indcpcndcnt cxamination. J have ¢on¢¢rns and hav¢ Con￿ aCTOSS no oiher rnatters tn conneciiotj wilh the examination to which ait¢niion should be diawn in thi5 report in order to enable a proper Underst￿lding of th¢ accouThLg 10 b¢ reached. Martin Flarreit William5 Denton Cyf CharE¢reil Certified AcLVLintdnts Gidslyn Trfordd y Parc Parc Mtnai Bangor Gmynedd LL57 4FE Datc.. Page 4 PRtr*CF,'S DRIVF. BAPTIST CHURCII STATEMENT OF FI￿ANCIAL ACTlVtTIES FOR THE YEAR ENDED 31 DECE141BER 2024 2024 TTrtk] nds 2023 Total fvnds u11r￿tric[cd fvnd R&%lTiGted fund Not¢s IISCOME AIND ENDoW￿EYrS FROM Donation5 and l¢gacies 150,658 150.658 136,602 InV￿￿￿ent Jncvtnc 2,337 2J37 1,903 Tntal 152,995 152.995 138.505 EXPF,NDITURE ON Raiqing fllnds Charitsble activities tiifis Mi&8ion5 14,646 7JOI 15.743 27J1211 14.646 7JOI IS743 29a93 13.547 6,449 17,359 21,949 ProtKrty Other 57.716 57,716 66,585 Total 123,234 [21799 125,889 TrqET LYCOME/(EXPEM)ITUREI 29,761 {I,S6S) 28,196 12,616 RECONCILIATION OF FUIYDS Total fuiid5 brought foiward 135,210 4611J55 595A65 582.949 TOTAL FLINDS CARRIED FORWARD 164,971 45&790 623,761 595,565 The notes forni part of the* financi￿ stat¢m¢nts Pag¢ 5 PRINCE'S DRIVE BAFfisT CHLRCH BALANCE SHEET 31 DECEMBER 2L124 2024 Total funds 2023 Unresknckd futtd Restrictcd fimd fvnds No*s FIXED ASSETS Tangible &iseLS 23,664 458.7911 482.454 480,575 CURRENT ASSETS Cdsh ￿ bank 142082 142,882 114,990 CREDII'ORS Amount8 falling due within onc year (I,S7S) (1,575) NET CURRENT ASSETS 141 J07 141 J117 114,990 TOTAL ASSETS LESS CtIRRENr LIAB]LITIES 164,971 45&790 623,761 595.565 NET ASSETS 164.971 45&790 623,761 595,565 -UNDS Unrestricted fLmds Restricted funds 164,Y71 458,790 135,210 460,355 TOTAL FUNDS 623.761 595,565 ThE fi dl state ents were approved by the Board of Tnjstees and authori8ed for issue and were signed on its b¢ha]f by.. on M Coulion- Ttwstee R L Beami%h- Ttu%tee Thc notcs fonn part of thcsc fillanciai statcrncnts Page 6 PIUNCE'S DRIVE BAFfisT CHURCH PIOTES TO THE FINANCIAL STATEMEriTs FOR THE YEAR EP4DED 31 DECEMBER 21124 ACCODNTING POLICIF.S Bas1$ of prepgrlng the financial slatements The financial statemenrs of the charity, which is a public benefit ejitity under FRS 102. have bcen prepared in accordance with the Chariii¢s SORP IFRS 10?) 'AcCo￿ting and RcpDrting by ChariitLs: Ststemertt of Recommendentinued... PRIYCF.'S DRIVE BApfIgT CHURCH NOTES TO THE FTNAYCIAL STATEMENTS- ¢ontlnu¢d OR THE YEAR F.NDF,D 31 DECEMBER 2024 MOVLMW.iYr IN FUNDS- continued A cll￿nt ycar 12 month6 and prior ycar 12 months combincd position 15 as follow5.. Net movcment in ￿n(L9 Ai 31_12.24 At 1.1.23 Unrestytrlcd funds ljeneral liihd 120,638 44J33 1191,971 Restri¢trd fund5 c.hwch Ruildings 462,311 13,521) 458,790 TOTAL FUYDS 582,949 40,812 623,761 A currcni year 12 months and prior year 12 months combined net moveTn¢nt in funds, included in the above 2r¢ s follows". Incoming rcwurces Mov¢ment in funds expended Unrestricted funds CFCrtcral firnd 291,5 (247.167) 44.333 Re5trlcted fvnds Church Buildings 13.521) 13.521) TOTAL FiiP4DS 2915lX) {25U.688) 40,812 RF.LATED PARTY DISCLOSURES There WCTe no Telated party transaciions for lh¢ year ended 31 December 2024. Pagell PIU.NCE'S DRIVE BAFfisT CHURCH DETAtLED sTATEl￿ETr￿ OF FINAliCIAL ACTtVlTILS FOR THE YEAR ENDED 31 DECEMBER 2024 2024 2023 INCOME AND EP4DOWMENTS Donatlon5 and lewAcies DonatlOD5 CJift aid Othcr income J 13J07 23,551 13,800 101,391 16,332 18,879 150,658 136,602 Investment intornc Depo811 account interest 2J37 1,903 Total inco¥nin¥ resourtts 152yJ5 138,505 F.XPF.YDITLRF. CharltAblt ActtvAt1¢5 Missioii costs Grdnts- missioDs Grant5- orher 7JOI 9,035 S,611 6,449 11,940 1.607 21,947 19,9>6 Support costs inanee Bank chargcs 6S 134 Hurn*ll resour¢e$ Wdgcs Pensions 33,579 9A67 39,848 11,348 43,(H6 51,196 AdminlstratIon Telvphane Subscriptions Event payments Ca￿rillg Equipnienl (i¢n¢ral F￿pcTLlts Dcprcciation 957 4282 360 1,51)8 414 3,739 5,9J6 871 2.719 2.633 1,44¥ 1.935 2.109 5,055 17,176 16,770 keni and Tatcs Ctitried fonvard 12,816 12,816 16,466 16,466 Thi5 pagc docs not fomi Part of the sthtutory financia] statements Page 12 PRINCE'S DRIVE BAwfisT CHURCH DETAtLED STATEMEn￿r OF FINANCJAL AcrtVJTVLS FOR THE YEAR ENDF.D 31 DECEMBER 2024 2024 2023 Brought forward In5uI?Dce Repairs ajjd Jnainienanc¢ 12,816 723 2,204 16,466 798 95 15,743 17.359 Property R¢nt and Tat¢s Insuiance Light and heat Repairs and inainicnance Cleat)tng Dg)r￿lation 280 2.392 12J53 5,469 IA18 1,565 2R2 2.3.15 9.872 1.041 1,408 1.956 23,477 16,894 Governgt)t¢ t05ts Ac¢ounLqncy and legal tees 3J45 3540 Total resources ￿pended 124,799 125,889 Net Intome 28.196 12.616 This page does not fomi part of the statutory fitsatscial statements Page 13