REGISTERED CHARITY NUMBER: 1199202 REPORT OF THE TRUSTEES AND AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 FOR SUTTON COLDFIELD BAPTIST CHURCH Wallace Crcw)ke Chartere¢J Accountants & Registered Audilors Wallace House 20 8irmingham Road INalsall West Midlands WS12LT SLITTON COLDFIELD BAPTIST CHURCH CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Page R•feren¢t and Adm5nislratlve Detalls R•port of the Trust•6s Report of the Indepgndont Audl¢ors ststernent of Flnanclal Activllles 10 Balance Sheot 11 10 12 Cash Flow Statement 13 Notas to th¢ Cash Fl¢)w Statsment 14 Notes to the Financlal Ststements 15 to 2S Dotall￿ Statement ol Flnandal Actlvlll•s 26 to 27 SUTTON COLDFIELD BAPTIST CHURCH REFERENCE AND AOMINISTRATIVE DETAILS FOR THE YEAR ENDED 31 DECEMBER 2024 TRUSTEES Donald Carnpbell Judy Hyde Mark Maybury Louise Gore Mark Steel David Gordon REGISTERED OFFICE Trinity Hill Sutton Cohjfield West MKllands B72 1TA REGISTERED CHARITY NUMBER 1199202 AUDITORS Wallace Crooke Chartered Ac¢ountanls & Registered Auditors Wallace House 20 8rmingham Road Walsall Wesl Midland5 WSI 2LT BANKERS The Cwralrve bank 18alloon Street Man¢hestei M60 4EP SUTTON COLDFIELD BAPTIST CHURCH REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEM8ER 2024 The trustees present their report wrth the financial statements ot Ihe charity for Ihe year Qntled 31 December 2023. The trustees have adopted the provisions of Accounbng and Reporting by Charilies: Slalemenl of Recommended Practs'ee applicable lo charities p￿ParIng iheir accounts in accordance with the Financial Reporting Standard applicable in the UK and ReWbI￿ of Ireland IFRS 102) (effective 1 January 20191. The Church was incorporated as a Charttsble Ir￿OrpOrated Organisatron (CIO) on 30 April 2023. The finaneial statements attached refiect the activities of the CIO from 1 January 2024 10 31 December 2024. The Injslees who have served during thg year an¢J since year end were as foltows.. Donald Campbell David Gordon Louise Gore Judy Hyde Mark Maybury Mark Steel Team Leader l Minister Eldgr Elder Elder Etder Administrator Church Elders, the Team Leader (Minister) and Administrator are the church's Trustges. Elders are endorsed by the Church Members. Meeling. The Team Leader is a Trustee by naturè of his role (as agreed by the Charity Commissionl an(1 the Administralor was el￿ted as a Trustee for the duration of hi5 appointment by the Church Members. Meeting in line the constitutson agreed by the Charity Commissv)n. Trustees spend time rneeting wth employees and arfy lully involve(l in the lrfe ol the church giving thèm detailed knowledge ol the organisation. They are also made aware of their obligations and responsibilities through Charity Comrnission publicats.ons and take due regard to guidance published by the Charity Commission. Additional inlomation is provided by The Baptist Llnion ol Great Britain. Trustees meet al least every hyo months and ensure the charity operates within appropriate Iggal and financial legislatKJn, and in line bwth potscies arKI decisions made at Church Members. Meetings. OBJECTIVES AND AcMvmES Objects of the Charfty Sn Governlng Document The principal purpose of the Church 15 the advancemenl of the Christian faith according lo the principles of the Baptist denomination. The Church may also advance educaiw)n and carry out other chariiable purposes in the United Kingdom andlty other parts of the world. SUThON COLDFIELD BAPTIST CHURCH REPORT OF THE TRUSTEES FOR THE YEAR ENDEO 31 DECEMBER 2024 OBJECTIVES AND ACTivmES Incorporation Over the past ￿￿pIe of years the Trustees have been working lo ineotporale the charity. ulilising a process defined by the Baptist Union ol Great Brilian wot*ing tpthh Anth￿Y Coifins Solicilry5. On 71h June 2022 a new Charilabfe Incorporated Organisation was setup with the Charity Commission for England and Wales. On 30th April 2023 thè 2ss9ts and liabilitiès of Ihe unincorForat8d ¢harity 111313091 were transfeired to the CIO111992021. Actfvitl¢$ Undertaken It is our intention lo make sense ol lrfe together and shafe the love of Jesus. We do this through a whole range of activitlgs to futfil our mission in line oui Charits￿e C￿lects. Ifs cMJr desire Ihat there be OppOrtun￿e$ for everyone at all ages and stages of lrfe lo explore the Christian faith. Sunday Servl¢os We have a broad offering ol S¥Jnday sorvThs with something for everyone: 8'.30am Call to Prayer. Shown every week live on YouTube as we as peo￿ joining in Ihe church building. 10.'30am Moming Semo". A weekly dynamic service for people of all agos. 3-00pm Glory Group.. A monthty service for adults ￿th learning disabilities, their family and friènds. 6."30pm Evening Service.. A weekly servrE induding worship arml tea¢hing {som￿n ￿peated from the 10..30am Se￿[Ce). On average we meet with over 450 different people each Sunday. Food Bank In 2024 the focxl bank eontr.nued to see an increase in demand. A key priority for our food bank is being open 5 days per week and people not needing a referral to access food. In 2024: We served 1.263 r￿pIe visiting the foc*J bank14% increase on 2023}. We gave oul 15.414 bag5 of food110Yo in¢￿3$e on 20231. We've seen an increase in the number of food bank visitors attending other church events and activities including Sunday seNices. Apha. and The Recovery Course. In addition to the pmvision of lood we have hosted drop in session5 for Birmingham Cty Council and local Charity represenlalives to signpost and advise visitors. In 2023 we were very 9raleful to be awar(led a grant of £75.000 from the UK Govemmenl delivered by The Nation81 Lottery Community Fund (from the Community Organisalions Cost of Living Fundl. The grant enabled us lo continue the work of our food bank Ihrough the end of 2023 and into 2024. In partieular the grant reduced the pressure of finding finances for the food bank. albwing us lo focus on wider support. Actlvities for Childr•n & Young People Our extensive provision for children and young people prowdes a place for them to er￿age in excits"n9 activities and leam about Christianity- Highlights wilhin thi5 area of our activities indude.. Liltle Ark PlaygTOUP for pre-schcol children to leam and play in a safe environment without their parenlslcarers. This activity is offered al a low cosl as part ol our commifmenl to supporbng families. Lrfe Groups for young people in secondary school provkle a place lo connect with friends, talk about Ilve, study th8 Bible and pray togethef. Special evenls for children and their families. These have included a Light Paty and a regular Dad's Bfunch Club. both of which were very well attended. Weekly stay and play for pre-schoders with an avefage attendance of over 80 people. Resiilenlral activities for children and young pwpte. s￿￿oN COLDFIELD BAPTIST CHURCH REPORT OF THE TRUSTEES FOR THE YEAR ENOED 31 DECEMBER 2024 OBJECTIVES AND ACTivfTIES Activlti8s for Adults Throughout the week we offor a wide range of ackn￿tIeS for adurts. Whilst every activsty is dtfferent they are unified around being a place of Iriendship and community. ActNilie5 indyde Ladies. Fellowship. Divorce Recovery Workshop, Board Games Evening. Artability. Seniors Lunch Club. Badminton. Photography Club. English Conversation Practice, Modèl Fiaifvtsys. and Open DC￿ Coffee. Falcon Lodge In 2023 we We￿ approached by Falcon Lodge Chapel ￿th a request for us lo provide leadership support for the fellowship. Our support for Falcon Lodge Chapel continued through 2024. The Alpha Course and Llving the Life Every week we offer course5 fv40 courses: The Ajpha Course for Ihose exploftng more about Christian faith LNing the Life for those new to Sutton Coldfield Baptist Church and looknng lo live out Iheir faith On average 30 people atlenil our Wednesday evonings Whe￿ we serve a IHJht meal. dessert. and drinks before commencing the course ¢ontsnL Mission and External GlvSng As Is our normal practice. 25% of irkcLKne received is used lo support Christian needs outside the t1irect ministry of Sutton Coldfiekl Baptist Church. This includes missron partners of ovr ¢hurch working in the UK and abroad and supports.ng other Baptist ministries. In 2024 this totslle¢ over £155.000. STRATEGIC REPORT Achievement and ￿rforManCe Rl$k Assessment Our risk assessment is kept urKler constant ￿vIeW by the Trustees lo ensure our policies, procedures and practice comply all Current legislation. Assessment of risk and safeguarding features as a Standing agertda rtem and our risk asseSS￿nI is fulty reviewed annually. The Trustees do not feel there are any s￿n￿an1 rtsks lo Ihe Slab￿lty of Ihe chanty at Ihis time. Flnan¢lal review Income The majority of inwne for the eharity is given voluntary donations from Ihe mernbershlp. congregation and local community. In 2024 we received grants lo supwt the ol our food bank (Community Fund) and via the Warm Welcome scheme. Review The balance ol thè General Fund (Ihe main operating source for the organisalion} al the end of 2024 lolalled £61.850. Several employee vaCanC￿S during 2024 have enabled us lo inuease the General Fund balance by £47.236. Over £155,000 was set aside from the General Fund to supwl Christian needs rjjtside the direct ministry of Sutton Coldfield Bapbsl Church. Reserves The Trustees reviewed Ihe Reseryes Policy during 2022 and increased the reserv8 amount from £75.000 10 £80,000. This figure is modelFed on three months core expenditure which the Trustees have determined lo be acceptable as part of their ongoing approach to risk managemenL s￿￿ON COLDFIELD BAPTIST CHURCH REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024 STRUCTURE. GOVERNANCE AND MANAGEMENT Goveming document The Charity 15 controlled by its govembng documgnL a deed of trust and consblules a CIO. STATEMENT OF TRUSTEES. RESPONSIBILITIES The Iruslees are responsible for preparing the Trustees. Report and thè financial 5ts1em8nts in accordance th applicable law and United ￿ng￿orn Accounting Standard5 IUnTted Kingdom Generally Accepted Accounting Practi¢el including Financial Reming Standard 102 Tr Financial Reporting Standard applicable in Ihe UK and Repvblic of Irelan¢r. The law applicable to charities in England and Wales, the CharTti"es A¢t 2011, Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed requi￿5 the trustees lo prepare financial statements for each financial year which give a true and fair view ol the stale of affairs of the charity and of the incoming resources and application of re￿yJree$. induding Ihe income and expenditu￿, of the charity for Ihat period. In preparing those financial stalgments. the trustees are required to'.- - select suitable accounting wlicies and then appty them consistenuy: observe the methods and principles in Ihe Charity SORP., make judgements and estimates that are reasonable and pnJdent-, slate whether applicable accounting stsndards have been fdlowed. subject to any material departures disdosed and *xplained in the finanaal statèm8nts- prepare the finanaal statements on the going concem basis unloss it is inappropriate to presume that thg charity wll continue in business. The trustees are responsible for keeping proper accounting records which disclose wtth reasonablg accuracy at any time the financial positi.on of the charity and to enable them lo ensure that the financial statèments compty with the Charitie5 Act 2011, the Charity {Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible l¢y saleguarding the assets of Ihe charity and hence for taking reasonable steps for the prevention and (Jelecb"on of fraud and other irregularities. Approved by order of the board of truslees on 21 lo and sgned ¢M its behalf by.. Trustee REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF su￿oN COLDFIELD BAPTIST CHURCH Oplnlon We have audtted the financial slalements of Sutton Coldfiek5 Bapts"st Church (the 'charTWI for the year en(5ed 31 December 2024 which comprise ihe Statement of Finanoal AclNilies. the Balance Sheet. the Cash Flow Statement and notès to the financial slalemenls. including a summary of significant accounting policies. The financial reporbng framework that has been applied in their Prèparation is applicable law and Untted Kingdorn Accountin9 StsnL1ard5, induding Finanoal Repo￿n9 Standard 102 The Financial Reporting Standard applicable in the UK and Republic of IreL4nd (Uniled Kingdom Generally Accepted Accounting Pra¢ti¢el. In our opinion the financial slatements= give a Irue and lair vrew ol the 51at9 Of ￿ C￿lty'S affairs as ai 31 December 2024 and of its In¢orning resources and application of resources, induding rts income and expenditure, for Ihe year then ended.. have been property prepared wi accordance wth United Kin9dom Geneially Accepted Accounting Practice,. and have been prepared in accordance wrth the requirements of the Charities Act 2011. Basls for oplnlon We conducted our audit in accordance wlh Inlemational StarKlards on Auditing (UK} IISAS IUKII and applicable law. Our responsibilities under those slandards are further descril)ed in the Auditors, responsibililies for the audil of the financial statements section of our report. We are independent of the charity in a¢¢ordance with the ethical requirements that are relevant to our audit of Ihe financial statements in the UK, tndutjing the FRC'S EthicJ Standard. and we have fulfilled our Other elhi¢al resptsnsibililie5 in accordanca with these requirements. We b8lieve that the audit evidence we have obtsined is sufficient and appropriate to provide a basis for our opinion. Concluslons rglatlng to going concem In auditing the financial statements. we have conduded that Ihe trustees, use of the going concem basis of accounts.ng in the preparation of the finanaal slat8ments is appropriate. Based on the woik we have performed, we have nol Fdentified any material uncertainties relaiing to events or condilions that. Individually or collectively. may cast significant doubt on the charity's ability to continue a5 a goin9 concem for a period of at least hv91ve months from when the financial slalements are authorised for issue. Our responsibilitie5 and the responsibilities of the trustees with respect to going concern are described in the relevant seclKJns of this repo Other inforniati¢n The other information comprises the infomiation included in th$ trustèes. annual report. othor than the financial 51atemenls and our audilor's report thereon. The truslees are responsible for the other infomation. Our opinion on the financial stslements does not cover the other infomiallon and we do not express any form of assLFrance conclusion thereon. Our responsibility is lo read Ihe other infomation and. in doing so. consider whether the other infonnalion is materially inconsislenl with the financial Statements or our knowladge obtained in the course of the audr( or otherwise appears lo be materially rnisstated. If we identfy such material inconsistencies or appargnt material misstslernents. we are required to determine whether this gives rise lo a rnalerial misstatemanl in the financial ststemerbts Ihemsefves. If. based on Iho work we have perfonned. we Gonctude that there is a material misstaiem¢nt of this other infom)ation. we are require(11o ￿￿)rt that fa¢L We have nothing lo report in this regard. Matters on whl¢h we are requlred to report by ex¢eptlon We have nothing to report in respecl of the following matters where the Charibes (Accounts 8nd Reports) Regulations 2008 requires u5 to report lo you rf, in our opinion." the informats'on given in the Report of the Trustees is inconsislenl in any material respect with thè financiai statgments., or sufficient accounting records have not been kept.. or the financial statements are not in agreement with the a¢counting records and returns- or we have not received all the information and explanatFOllS we require for our audil. REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF surroN COLDFIELD BAPTIST CHURCH Responsibllltles of trustees As explained more fully In the Stslemenl of Tnjslees. ResponsibiS1ies. th8 truslees are rosponsible for the preparalion of the financial ststements which give a true al￿ fair vrew. and for such inlemal control as the Iruslees determine is necessary lo enable the pfeparaiion of financtral stalemenls that are free from malerral misstalemenl, whether due to fraud or error. In preparing the financial slalemenls. the trustees are reS￿nSIble for assessin9 the charivs abilty to continue as a going concem. (Jisclosing, as applicable, matters related to going concem and using the going concem basis of accounting unless the trustees either intend to liquidate the charity or lo cease operatlons. or have no realistic 8llernab.ve but lo do so. REPORT OF THE INDEPENDENT AUDrroRS TO THE TRUSTEES OF siwrroN COLDFIELD BAPTIST CHURCH Our responsibilities for Ihg audit of the financial statements We have been appointed as auditors under Section 144 of the Charilies Act 2011 and Tgport in accordance wth the Act and relevant regulatiorF5 made or having effect thereunder. Our objectives are to obtain reasonable assuranee about whether the financial statements as a Svhole are rree from material misslatemenl, whether due lo fraud or error. arbd to issue a Report of the Independent Auditors Ihal includes our opinion. Reasonable assurance is a high level of assurance, bul is not a guaianlee Ihal an audil conducled in accordance with ISAS IUKI will always delect a material missiatement when il exists. Misstatements Gan arise from fraud or error and afe considerèd material if, individuaNy or in the aggregate. they could reasonably be oxpected to influence the economic decisions of usèrs taken on thè basls of thesè financial stalemeAts. The exlenl lo which our procedures are ¢apable of deleclj.ng irregularities. induding fraud is detsiled below.. The extent to which our Procedur￿ ar• capable of detecting Irregularltles. Includlng fraud Is dotallgd below: Irregularities, induding fraud. are instsnces of non-compliance with laws and regulations. We design prLxedures in line with Our ￿Sponsibl11￿8$. outtined above. to detect material misstatements in ￿SpeCt of Srregularilies, induding fraud. The objectives of our audit are to obtain suffictent appropriate audit evidence garding Cornpliance with laws and regulations Ihat have a direct effect on the detefmination of material amounts and disch)sures in the financial statemènts, to pèrfomi audit procedures to help identify insl8nces of non-compliance w¢h other laws and regulatiorts that may have a material effect on the financial ststements, and lo respond appropriately to identified or suspected non-compliar￿e with laws arKI regulatK*ns idenlified during the audit. In relation to fraud. the objecbves of our audit are to identrfy arKI assess Ihe risk of material misstalement of the financial stalemenls due to fraud, lo oblain sufficient appropriate audit evidence regarding the assessed risks of material rnisstalemenl due to fraud through designing and implementing appropriate responses and lo respond appropriately lo fraud or suspected fraud identified during the audit H¢)wever. il 15 ihe primary responsibility of trustees. wilh the oversight of those charged with governance, lo ensure that the èntity's operations are conducted in accordance with the provisKN￿ of laws arKI regulations and for the prevenbon and detection of fraud. Based on our understanding of the charity, we identified that Ihe principal risks of r￿n-ComPlia￿ce with laws and regulalKsns related lo the Charities Act 2011, and we ￿nSIdered the extent to which noncomplian¢g rnighl have a material effect on Ihe ffnancial statements. We evaluated management's in¢entives and opportunities for fraudulent manipulation of the financtal statements linduding the risk of override of ntrols), and detemiined Ihat Ihe prin¢ipal risks wère related to the posting ol inappropThale journal entries and management bias in key attounting judgements and estimates. In identfyng and assessing risks ol material missialement in respect of irregularities. incfuding fraud. the audil engagement team= - obtained an understsnding of the legal and regulatory framthth that the charity operates in and how thè charity 15 Complying with the legal and regulatory framewod('. inquired management and trustees, at￿￿1 their own identffication and assessment of the risks of irregularities. induding any known aclual. suspethed or alleged instances of fraud.. - discussed matters aix)ul nOn-com￿lance with laws and regulations and how fraud might occur including assessment of how and where the financial stslements may be susceptible lo fraud; reviewed minutes of meetings of the Board of Trustees to *Jenlify significant or unusual transactrons and known or sysperAed Instan￿ offraud or nonthcompliance th laws and regulations reviewed accounting gstimales for bias and evaluating whether circumstsnces Producin9 any bias. represent a risk of material misstslement due to fraud.. and REPORT OFTHE INDEPENLIENT AUDifoRS TO THE TRUSTEES OF S￿￿ON COLDFIELD BAPTIST CHURCH Becausè of the Inherent of an audit Ihere is a ￿ th8twe wll not d8tect all irregulathes. induding those thling to a material misststement in fmarvial statements or non surroN COLDFIELD BAPTIST CHURCH BALANCE SHEET 31 DECEMBER 2024 2024 2023 Notes FIXED ASSETS Tangible assets 14 1,071.490 1.093.325 CURRENT ASSETS Debtors Cash al bank and in hand 15 16 18,245 419.261 28,238 269,994 437.506 298.232 CREDITORS Amoijnts falling due ￿thin one year 17 {17.0971 (13,0951 NET CURRENT ASSETS 420,409 285,137 TOTAL ASSEfs LESS CURRENT LIABILITIES 1.491.899 1.378.462 ASSETS 1,491.899 1,378,462 FUNDS Unrestricted funds.. General fund DesvJnaled 190.713 919,581 143.478 913,969 1.110.294 1.057.447 Resirieted funds 381.605 321.015 TOTAL FUNDS 1.491,899 1,378,462 The fna IL cial Statements were approved by Ihe Board of Trv51ees and authorised for Issue on nd were signed on its behalf by. ee The notes fomi part of these finanual slalements -11- onlinued.. surroN COLDFIELD BAPTIST CHURCH CASH FLOW STATEMENT FOR THE YEAR ENDED 31 DECEM8ER 2024 2024 2023 Notes cash flows from opernting activities Cash generated from operations 171.SY15 102.626 Nel cash provided by oteraling activities 171.905 102.626 Cash flows from 5nvosting actlvltl•s Purchase of tangible fix8t1 assets Interest received (28.2201 5.S82 16.3411 3,309 Net cash used in investirKJ acbvibes 22.6381 Change in cash and ¢a$h equivalents In the reportlng perfod Cash and cash equivalents atthe boglnning of the reportlng ￿riod 149.267 99.594 269.994 170.400 Cash and cash oquivalents at tho and of tho reporting parlod 419.261 269,994 The notes fomi part of these financial slalements -12- s￿￿ON COLDFIELD BAPTIST CHURCH NOTES TO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2024 RECONCILIATION OF NET INCOME TO CASH FLOW FROM OPERATING ACTMTIES 2024 2023 Net In¢omo for the reportin9 period (as pèr tho Stat•m•nt of Flnancial Activities) Adjustments for.. oepreciatr.on tharges Interest received Decrease in debtors Increaselldeuea58) in credito 113.437 37.496 50.055 15.5821 9.993 4.002 47.281 13.309) 26.649 Not cash pro¥ld8d by operat￿Tr5 171.905 102.626 ANALYSIS OF CHANGES IN NET FUNDS Al 111124 Cash flow Al 31112124 Net cash Cash at bank and in hand 269.994 149.267 419.261 269.994 149.267 419 261 Total 269,994 149.267 419.261 The notes fom part of these financial statements SUThON COLDFIELD BAPTIST CHURCH NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENOED 31 DECEMBER 2024 ACCOUNTING POLICIES Basis of preparing thè financial statem•nt$ The financhil statements of the charity. which is a benefit entity under FRS 102. have been p￿pared in accortlance wth the Charibes SORP IFRS 1021 'Accounting and Rewtrng by Charilies.. Sialemenl of Recornmended Practice applicatle io charities p￿paring their accounts in accordance ih the Financial Repott"ng Srandard applicable in the UK and Republic ol Ireland IFRS 1021 loffectivo 1 January 20191.. F￿anCIal Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republsc of Ireland. and the Charrties Act 2011. The financial statements have been prepared un¢Jer the historical cosl convenb"on. The financial slatements have departed from the Charilies (Accounts arKI Reports) Regulations 2008 C￿lY lo the extent fequired lo provide a tru¢ and tair view. This departure has involved followng the Slalemenl of Recommended Practice for charities applying FRS 102 rather Ifian Ihe version of the Statement of Recommended Practice which is referred lo in the Regulations but which has since been thdrawn. The financial ststemenls are presented in slerting whith is Ihg fun¢lional currency of the charity rounded to the nea￿st pound. Income l income is recognised in the Slatement of Financh?l ActM"tie5 once the charity has enliuemenl lo tha funds. it is probable that the income wll be received and the amount can be measured relhably. Donations are accounted for gross when received. Leg8¢ie5 are accounted for on the earlier of notffication of an impending distribution and the legacy being received. p¥ovided that the legacy can be properly quantified. Investh*nl income is induded ￿ the accounts in the year in wthich it is receivable. Expenditure Liabilities are recognise¢J as expenditure a5 soon as there a legal or construcfwe obligation cornrnitting the charity to that expenditu￿. (( is probab￿ that a transfer of economie benefits will be required in setuement and the amount of the obligats.on can be measured ￿lIablY. Expendtiure is accounled for on an accruals basis and has been da5Stfied under headings thal aggregate all cost related to the categKsry. Where cosls cannot be direcuy attributed to particular headings they have een allocated to aclimbes on a basis con5islenl th the use of resources. Costs of ralsing funds are not material. as the Church doe$ not make formal appeals for fttnd5. Charitable actNiltes represent expenditure in the furtherance of thg objectives of the Church. Grants payable lo other organisations whose charitable objects complement the wotk of the Church. are agreed on an annual basis and accounted for in the year In which they are committed. Irrecoverable VAT is eharged as a cost against the activity for which the expenditure was incurrod. Support costs allocation Support costs are those that assist the work of the charity bul do not dire¢Uy rep￿sent chariiabla a¢tivilies and tnclude office costs and governance costs. Wheie support costs cannot be direcuy attThbuled to parbcular headings. they have been allocated to cost of raising ftjnds and expenditure on charitable actNilies on a basis consistent ￿th use of Ihe iesources. This represents direcl expgndilure on the governanca of the church. Most of the management is carTied OLrt without charge by volunloers. This intangiblo ¢051 is not in th8 SOFA 5inee there is no measurable c05t to the volunteers for their service. -1 continued... SUThON COLDFIELD BAPTIST CHURCH NOTES TO THE FINANCIAL STATEMENTS - contlnuèd FOR THE YEAR ENDED 31 DECEMBER 2024 ACCOUNTING POLICIES - ¢ontinued Tangible fixed ass•ts The church premises a￿ included in the balan￿ sheet at C051 as ascertaining a market valuation would in¢)Jr s¥Jnificant costs which would be onerous compared with the additional benefit gained by the user of Ihe accounts. The Manse premises are stated at cosL Fumilure 8nd equipment in the ¢hur¢h p￿miseS Ni indvded 81 ￿$t ty valuation less accumulated depreciation. Dapreciab"on ha5 not been charged on the Manse prèmisès, because in the opinion of the Trustees. the residual valije of the asset is not less Ihan the origirsal cost price. Depreciation has been charged on the hall oxlensionl refijrbishment Work1£300.￿0 20071081 over a 50 year period. Depreciation on other fixed assets is calculated to write off the cost on a straight-line basis over their expected usefvl lrfe. al the foll(Ming rales.. Refurbishment of worship buildin9 Fumilurè and fittings Computer equipment Communty bus 10% straohl line 25°A straight line 25% straight line 25% straight line Taxatlon The charity is exempt frorn corporation lax on its charttsble adivities. Fund accounting Unrestricied funds can be used in accordance with the charitable obiectNes al the discretion of the Iruslees. Restricted funds can On￿ be used for particular reslricted purposes within the objects of the tharity. Restriclions arise when sp8afied by the donor or wthen fvnds are raised for particular restricted purposes. Further explanatton of Ihe nalure and puipose of each fund is induded in the notes to the financial statemenis. Penslon costs and other postwretlrement beneffts The charity operates a defined contribution pension scheme. Contributions payable lo the Charity's pension scheme are charged to the Slalemenl of Financial Activities in the period to which they relate. Debtors and creditors r￿al¥abl￿ payablo within one year Debtors and creditors with no stated interest rale and receivable or payab￿ wthin one year are recorded at transacts.on pri¢e. Any losses arising from impaimient are recognised in expenditure. lrnpaimlent Assels not Measu￿ at fair value a￿ ￿vieWed for any indication thal the asset may be impai￿d al each balance sheet date. 11 such in0icab.on exists, the recoverable amount of the asset, or the asset's cash generating unil. Is 9stimaled and compaTed lo the carryin9 amount. where th9 carryin9 amount exceeds ils recoverable amount. an impaimienl loss is recc#3nised in profil 01 loss unless tha asset is carried at a r8valued amounl vthere the impairment loss is a revaluation doueasg. Leases Rentals payable under operabng leases are Charged lo the SOFA on a straight line basis over the period of the lease. -1& eontinued... SUTTON COLDFIELD BAPTIST CHURCH NOTES TO THE FINANCIAL STATEMENTS - contlnued FOR THE YEAR ENDED 31 DECEMBER 2024 Golng concern The financial sialements have been Prepared on a going e(Jncem basis as the trustees believe that no material uncertainties exi%1. The trustees have eonsidered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted incorne and expenditure is sufficient the level ol reserves for the Gharity lo be able lo continue as a going concem. CRITICAL ACCOUNTING JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY Estimates and judgements arg Continual￿ evaluated and are based on historical experience and other factors. including expe￿allOnS of frjture events that are believed lo be reasonable under the circumstances. The following judgements have been made in the process of apptying the abovo accounting policies: MuRivemF4oyer defined benefit pension schemes: Certsin employees partiapale In 8 Mult￿eMploYer defined benefit pension scheme. In the judgement of the Truslees. the charity does nol have sufficient information on the plan assets and liabilities lo be able lo reliably account for its share of the defined bgnefit obligalw and plan assets. Therefore, the schemes are accojnted for as defined contribution schemes. See note 21 The key assurnplions conceming the future and olher key sources of estimation uncertainty at the reporting date Ihal have a signtficant risk of causing a material adjustmenl lo Ihe carryino amounis of assets ar¥J liabilib'es wilhBI the next financial year indy(le: MUlt￿eMPloYer defined benefit pension scheme.. The chanty has an obligation io pay a deficit funding arrangement in ￿SpeCt of the Bapti81 Ministers Pension Scheme. The presen¢ value of the obligats.on depends on a number of faclors induding the RPI rate and the discount rale on corporate tonds. Management estirnates there factors in determining any pension obligation in the balance sheet. Management consider that such a provision 15 not material to the accounts and has not the￿lOre been prow6ed. Usetul e¢orK)mic lives of langible assets." The annual deprg1?alion charg8 of tangible assets is sensitive lo changes in the estimated useful economic INes and ￿SIdUal values of the assets. The useful economic INes and residual values are re-assessed annLtalty. They are amended when necessary to reflecl currenl estimates. based on technohgical advancernent. ftjture investmenls. economic utilssation and the physical condrtion of the assets. See note 13 for the carrying amount of the fixed assets and note 1 for th9 usefijl economtc lives for each dass of ass8L DONATIONS AND LEGACIES 2024 Totsl funds 2023 Total fLtnds Uftrestricted Restrided funds funds Offerings Grft aid Fees Special offerin9 Donated services and faaliti8S 528.018 112.612 35.001 705 27,500 528.723 140.112 35.001 17,209 181,675 523.192 112.306 37.724 15.492 96.343 17,209 111.932 69.743 745.374 157,346 902.720 785,057 In 2023, £30.087 of the donation5 and legacies income was attribut#￿e to restrieled funds and the remaining £754.970 wa5 attributa￿e lo un￿stricted fuThJs. -1P continued... SUTTON COLDFIELD BAPTIST CHURCH NOTES TO THE FINANCIAL STATEMENTS- ¢ontlnued FOR THE YEAR ENDED 31 DECEMBER 2024 OTHER TRADING AcTIV￿lEs 2024 Total frjnds 2023 Total funds Unreslricted Restr￿ed lunds lunds Other inKime 1,469 1,469 1.172 In 2023. trading actsvity income was all attributable to unresirieted funds. INVESTMENT INCOME 2024 Total fijnds 2023 Total lunds Unrestricted Restricted funds funds Deposit account interest 5.582 5.582 3,309 In 2023. investment income was all attnbutable to un￿$t￿.¢ted lunds. INCOME FROM CHARITABLE ACTIVMES Second Thoughts Organisations Under 55 Organisations Second Thoughts Grants 2.672 11.924 10.289 2.672 10.289 11.924 2024 Total activities 2023 Total 8¢1ivitTre5 Grant Organisalions Second Thoughts Grants 14,596 10.289 47.198 13.710 17.327 116.166 47.198 47.198 72.083 147.203 In 2023, £147.203 of the charitsble aetivitses income was attributable lo restricted funds. Second thoughts is a commun¢ty facility srtuated OA Falcon Lodge. Whilst goods arg sold i.e. second hand cloths and biic-a-brac. these have all been donated at no cost and are 501d al market prices. It is not operated to generate (unds for Sutton Cohjfield Baptist Church. Income Expenditure Nel Second Thoughts 10.289 18,447 18.1581 Grants received. included in the above. are as follows.. 2024 2023 The National Lottery Community Fund Other funds 75.000 41.166 47.198 47.198 116,166 -17- conllnued... surroN COLDFIELD BAPTIST CHURCH NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024 CHARITABLE ACTMTIES COSTS Direct Cosis Isee note 8) Suppori cosls Iseo note 91 Totals Organisalions Facilities Mission Children & Young People Employment Costs Sundry Expenses Administration Depreciation Bank charge Audit fee 24.185 63.653 144,740 42.195 343.783 137.115 1.562 24,185 63,653 144.740 42,195 343.783 137,115 56.128 50.055 697 5.866 50.055 697 5.866 757.233 111.184 868,417 DIRECT COSTS OF CHARITABLE ACTNMES un￿stn.¢te Restricted 2024 2023 Facilities Mission Children & Young People Employment costs Sundry Expenses Ofganisation 63,653 144.740 42,195 334,028 60.235 63,653 144.740 42,195 343.783 137.115 24.185 74,306 157,113 33.139 387.328 128.850 14.563 9,755 76,880 24,185 644,851 110.820 755,671 In 2023, £68.563 of direct costs in relation to charitable activities was attributsble to restricted fvnds and the remaining £726.736 was allributsble to unrgslrict8d funds. SUPPORT COSTS Unrestricte Restri¢led 2024 2023 Administration Depieciation Loss on disposal Govemance: 50.128 6,000 40.191 5.454 56,128 46.191 5.454 5,866 697 49.236 47.281 Audil fee Bank chgs 5.866 697 6,434 968 62.691 S1.645 114.336 103,946 In 2023, £46.575 of support costs in relation lo charitsble aclivities was atlribulable to reslri¢led funds and the remaining £57.371 was attributsble to unrestricted lurids. -18- continued... su￿ON COLDFIELD BAPTIST CHURCH NOTES TO THE FINANCIAL STATEMENTS- contlnued FOR THE YEAR ENDEO 31 DECEMBER 2024 10. NEf INCOMEIIEXPENDITUREI Net incomellexpendilure) 15 Stated after ¢harginty{credltirKJl: 2024 2023 Auditors. remuneralion Depreeiotion- owned assets 5.866 50,055 6.434 47.281 11. TRUSTEES. REMUNERATION ANO BENEFITS One Tntstee. Rev.D Campbell. who is also an employee, lived in housing partly owned by the church. As agreed wilh the Charity Commission, the Eklers. Administrator and Minister of th6 Church are designaled as Trustees arKI received Ihe r(Alowng during the year. 2024 2023 Remuneralion Pension 90.927 10,310 83.372 9.659 Trust￿$. ¢wnses There were no fnJstees' expenses paid for the year ended 31 December 2024 nc* for the year ended 31 December 2023. 12. STAFF COSTS 2024 2023 Wages and salartes Sw'al security costs Other pension costs 295.834 24.504 31.021 321,264 24.299 33,480 351.359 379.043 The average monthly number of empk*yees during the year was as follows.. 2024 12 2023 13 Employee No employees reeewed emoluments in exce55 of £60,000. -1 continued... surroN COLDFIELD BAPTIST CHURCH NOTES TO THE FINANCIAL STATEMENTS - ¢onttnued FOR THE YEAR ENDED 31 DECEMBER 2024 13. ANALYSIS OF GRAHrs The largest grants made by the Churth during the year were as foll¢)yts: 2024 2023 24tT Agape Baptist Missionary Sooety Clayiorts ECM Frontiers Heart of England Bapbst AssLxiation Jericho FOUnda￿On Latin Link Operation Mobilisation Reach Across Sparkbrook Wilsons Wydiffe Blble Translator5 Egypt Project Cath Home Open Doois 17.370 2.537 12.500 8.787 16.325 537 31.154 7,500 1.500 2,000 6.537 13,617 2.750 16,500 12.500 11,250 1.750 32.450 7.500 5.500 1.500 6.000 200 7,364 11.767 5.000 2.565 2.665 8,537 2.337 218 6.231 126.735 144.677 14. TANGIBLE FIXED ASSETS Fixtu￿5 and fitts.ngs Church Premises Motor vehicles Totals COST Al 7 January 2024 Additions 1.432,550 23.154 98,700 5.066 45.588 1.576,838 28.220 Al 310ecgmber 2024 1.455.704 103.766 4S.588 1.605.058 DEPRECIATION At 1 January 2024 Charge for year 348.066 46.814 89,859 3,241 45.588 483.513 50.055 AI 31 D￿ember 2024 394.880 93.100 45.588 NEf BOOK VALUE Al 31 December 2024 1,060.824 10.666 1.071,490 Al 31 December 2023 1.084.484 8.841 1.093.325 The buildings of the Charity are registered with the Baptisl Union Corporation at Didcot, Oxfordshire as cusl(*Jian trustees. 22 Holland Road. Sutton Coldfield, W MÈdlands B72 1 RQ is jointly owned by Donald Campbell and Susan Campbell, wth a restriction that rKJ disposithon by ihe proprietors can be registe￿4 without the consent of the Baptsst Union Corporation Limited of Baptsst House. except under an order of the registrar. This restriction limits any transfer or sale of thè property without prior approval from the Baplist Union Corpora(ion. Church Premises indudes the house at 22 Holland Road, Sullon Coldfigld. which is not depreciated and is held at cost of £737,920. -2¢> nlinued... SUThON COLDFIELD BAPTIST CHURCH NOTES TO THE FINANCIAL STATEMENTS- contlnued FOR THE YEAR ENDED 31 DECEMBER 2024 15. DEBTORS 2024 2023 Amounts falling due within one year. Other deblors Income lax recoverable Employee loan Prepayments 1.857 11,980 2.488 11,023 5.000 8,164 4.408 18,245 26.675 Amounts failing due after more than one year. Employee loan Aggregale amounts 18,245 28.238 16. CASH AT BANK AND IN HAND 2024 Restricted Total funds 2023 Total funds General fund Designated Cash in hand Cash at bank 391 205,648 391 418.870 189.811 23,411 269.$06 189.811 23.411 206.039 419.261 269,994 17. CREDITORS: AMOUNTS FALUNG DUE W￿H1N ONE YEAR 2024 2023 Other ¢redtiors Accnjals and deferred income 5.488 11.609 3.082 10.013 17.097 13.095 18. LEASING AGREEMENTS Minimum lease paymènts und8r non-ca￿lIa￿e operating leases fall due a$ follows: 2024 2023 Wilhin one year Betsveen one and five years 10.880 14,960 4.080 10.880 19,040 -21- eontinu8d... surroN COLDFIELD BAPTIST CHURCH NOTES TO THE FINANCIAL STATEMENTS - CDntlnued FOR THE YEAR ENDED 31 DECEMBER 2024 19. ANALYSIS OF NEf ASSETS BETWEEN FUNDS 2024 Total funds 2023 Total funds Unreslricied funds Restrided fund Fixed assets Current 25sets Cu￿ent I￿bil￿1eS 896,170 175.320 231.215 2(15,291 17.091) ￿6) 1.071.490 437.506 17.097) 1,093,325 298.232 13.0951 1.110.294 381.605 1,491,899 1,378,462 -22- eonlinued... SUTTON COLDFIELD BAPTIST CHURCH NOTES TO THE FINANCIAL STATEMENTS - contlnued FOR THE YEAR ENDED 31 DECEMBER 2024 20. MOVEMENT IN FUNDS Restrf¢ted Fund Opening Balance In¢omin9 R•sourcoS R•sources Expended Transfers Closlng Balanco Glory group Organi5alion fundsl Undef 5s Seeond Thoughts Manse fund Special offerings Mission trips Building Project Renovalion Fund Future Propety The Nalional Lottery Communrty Fund 527 705 738 494 1,395 16.314 39,750 9.182 19.596 10.289 15.493 18.449 1,351 15.185 5,498 8,156 67.553 11.206 23.154 17,209 1S1.404 29.0 12.5(Kl 42.704 6.￿0 S,(￿6 6.￿0 113.766 29.000 151,932 139.432 60,957 14 321015 187,231 160,875 34,234 381.605 Unrestrictgdl D8signatsd Funds Openlng Balance Incomlng Resources R•sourc•s Expended Transfors Clo$lng Balan¢• Capital fund General fund Contingency fijnd Community Mission & Extemal Giving Lunch club Outreach Paslofal Repairs Holland Road Youth Youlh Mission Children's Ladies Fellowship 902.170 14.614 83.692 13.255 6.000 449,897 896.170 61,850 83,692 SS.703 644.134 1147,0011 94.561 52.099 (141 9,676 2.922 4,072 2.445 128.221 2,516 9.067 17,547 118.545 14501 4.995 31.769 628 16.667 {10,0261 5,155 715 {2321 110,6541 (7,0631 28.755 25.601 715 856 8.058 16.594 401 1.057.447 794.623 34,234 707.S42 ￿ 1,110,294 -2> continued... SUTTON COLDFIELD BAPTIST CHURCH NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024 21. RELATED PARTY DISCLOSURES The custodian Trustee of the chuich is the Baptist Union Corporation Limited which Is eharity number 249635. and which is controlled by the Baptist Union Council. The church 15 also a member of the 8aptist Union of Great Britain. Thef8 were no Iransaclions belween the church an(1 ils relaled charitses durin9 the year. 22. PENSIONS AND OThER POST R￿IREMENT BENEFITS The Church is an employer parlicipaling in a pension scheme known as Ihe Baptist Penslon Schemè I"Ihe BPS"). The BPS is a separate legal ents.ty wh￿h are administered by the Pension Truste8 18aplisl Pension Trust Limitedl- From January 2012. pension provision for the Minisler is being made through the Defined Contribution (DCI Plan within the BPS. In general. member5 pay of their PensK)nable Income and employers pay 6% of members. Pensionable Income inlo ind¢vidual pension accounts. which are operated and managed on behalf of the Pension Trustee by Broadstone Corporate Benefrts Ltd. In addition, the employer pays a further 4*A of PensÉonable Inc(yne to ￿Ver Dèath in Servicg Benefits, admlnistralon costs, and an associated insurance wli¢y which provides income prolection for BPS members if they are unable lo work due to long-lerm irKapactty. This income protection policy has been insured by the Baptist Union ol Great Britain wilh AvNa Limited. Members of the Basic Section pay reduced contributions of S% of Penstonable Income. and their employers also pay a total of 5%. The total pension cosL for the Church. recognised in the Stslemenl of Financial Activities Is £31,021 {2023= £33.4801. Benefits in respect of seNce prior lo l January 2012 ao prwded thr￿gh the Defined Benefft IDBI Plan within the BPS. The main benefils We￿.. 'A defined benefrt penS￿n of one eightieth ol Final Minimum Pensionable IrKOn￿ for each year of Pensionable Servsce, together wth additional pension in respect of premiums paid ort Pensionable Income in excess of Minimum Pensionable Income.- On 19th November 2024. the Church was advised by the Trustee of the BPS they had finalised an agreement wlh the insurance company Just Group Limited fJusl") lo transition the responsibility for the DB Plan benefits lo Ihe insurance company JUSL As a resulL the church has no further liability towards the DB plan. -2 s￿￿oN COLDFIELD BAPTIST CHURCH DEfAILED STATEMENT OF FINANCIAL ACTNMES FOR THE YEAR ENDED 31 DECEMBER 2024 2024 Total funds 2023 Total funds Unrestricied funds Restricted funds INCOME AND ENDOWMENTS Donations and legacies Offerings Gtft aid Fees Special offering Donated s8rvicas an¢J faulrties 528,018 112.612 35.001 705 27.500 526,723 140.112 35,001 17,209 181.675 523.192 112,306 37.724 1 S.492 96.343 17,209 111.932 69.743 745.374 157.346 902.720 785.057 Oth¢r tradlng actlvities Other income 1.469 1.469 1.172 Investment Income Deposit account interest 5.582 5.582 3.309 Charitable actIv￿leS Ofganisalions Second Thoughts Giants 14.596 10.289 5.1)00 14.596 10,289 47.198 13.710 17.327 116.166 42.198 42.198 72,083 147,203 Total in¢omlng resources 794.623 187.231 981.854 936.741 EXPENDITURE Charitable activiti•s Wages Social security Pensions Facilities Mission Children & Young People Employment costs Sundry Exp9nses Organisalion Administration 274.872 24.504 31.021 44.108 144.740 42.195 3.631 59,156 20.962 295.834 24.504 31,021 44.108 144,740 42.195 3.631 136.036 12.978 22.186 321.264 24,299 33,480 74.306 157,113 33,139 8.285 128.850 14.563 76.8BO 12.978 22,186 646.413 110.820 757,233 795,299 Support costs Management Administration Depreciation of tangible and heritsge assets 6.000 54,566 49.263 44.055 50.055 54.566 50.055 104,621 This page doos not lorm part of the slalutory financial slatements -2 sirrroN COLDFIELD BAPTIST CHURCH DETAILED STATEPIIENT OF FINANCIAL ACTp4mES FOR THE YEAR ENDED 31 DECEMBER 2024 2024 Totsl fvnds 2023 Total nds Uftreskn¢ted lunds Restricted funds Management Govornanc• ¢osts Audilofs, remungratvjn Bank charges 5.866 697 5.866 697 6,434 968 6,563 7,402 Total resources expended 707.542 160.875 868.417 899,245 Net income 87,081 26.356 113.437 37.496 This page does nol form part of the statutory financial slatements -2