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2024-12-31-accounts

Charity registration number: 1199579

Hereford Baptist Church

Annual Report and Financial Statements

for the Year Ended 31 December 2024

Hereford Baptist Church

Contents (continued)

Trustees' Report 1 to 6
Statement of Trustees' Responsibilities 7
Independent Examiner's Report 8
Statement of Financial Activities 9 to 10
Balance Sheet 11
Notes to the Financial Statements 12 to 26

Hereford Baptist Church

Trustees' Report

Hereford Baptist Church (HBC), a Charitable Incorporated Organisation, was registered with number 1199579 on 7 July 2022 and took over the assets and operations of Hereford Baptist Church, an unincorporated trust, registered number 1131325 on 1 April 2023. The unincorporated trust was subsequently removed from the Charity Commission register.

The Trustees present their report and unaudited accounts for HBC for the year ended 31 December 2024. The accounts have been prepared in accordance with applicable accounting standards and the Charities SORP (FRS102) - Statement of Recommended Practice 2019: Accounting and Reporting by Charities. Assets, income and expenditure transferred from the unincorporated charity have been accounted for using merger accounting principles.

Objectives and activities

Objects and aims

HBC is governed by a constitution which states that the principal purpose of the Church is the advancement 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 and/or other parts of the world.

The Church provides a variety of activities both to its membership and to the wider community. The aim is to show the love of Jesus Christ in both words and actions – assisting within the community and bringing those who wish into a closer relationship with Him as living Lord.

Public benefit

When planning HBC’s activities for the year, the Trustees have considered the Charities Commission guidance on public benefit and, in particular, the specific guidance on charities for the advancement of religion. We try to enable ordinary people to live out their faith as part of a community of believers through:

The trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.

Page 1

Hereford Baptist Church

Trustees' Report (continued)

Structure, governance and management

Organisational structure

HBC is governed by Trustees consisting of the Minister and Deacons. The church operates systems to ensure that all people working with children and vulnerable adults are appropriately vetted by reference to Disclosure and Barring Service (DBS) checks and procedures and have completed safeguarding training.

Members of HBC are accepted in accordance with the requirements of the Constitution. The normal mode of entry into membership of a Baptist Church is to have been publicly baptised on the profession of faith in Jesus Christ. However, persons seeking membership who have not been publicly baptised may be accepted into membership at the discretion of the church meeting based on their own public profession of faith. Membership is regularly reviewed, and names of non-active members removed. Membership at the end of December 2024 was 102 (2023: 115).

Church Members’ Meetings are scheduled to take place six times in any calendar year and have responsibility for the overall policy of the church. The Constitution requires the members in Church Meeting to appoint Trustees (known at HBC also as Deacons) plus the Minister who is automatically a Trustee. Trustees have specific responsibilities for the operation of certain areas in church life and include a Church Secretary and Treasurer. The Trustees are responsible for the day-to-day running of the Church’s work, and the financial and legal aspects of the charity. In view of the current membership level, the CIO Constitution was amended in November 2024 to set the minimum number of Trustees to three, plus the Minister.

All members are encouraged to take an appropriate part in the spiritual and practical tasks involved in advancing the Christian faith. Relevant matters may be submitted to the Church Meeting by the Trustees for guidance or may be raised by members in Church Meetings for further consideration by the Trustees. Though the Constitution permits decisions to be made at Church Meetings by appropriate majorities, HBC seeks to work by consensus wherever possible under the guidance of the Holy Spirit and under the Lordship of Jesus Christ.

The Church is a member of the Baptist Union of Great Britain and the Heart of England Baptist Association.

Page 2

Hereford Baptist Church

Trustees' Report (continued)

Major risks and management of those risks

Significant risks

The two most prominent risks identified by the Trustees are the protection of children and vulnerable adults, and health and safety.

Written policies are in place and are regularly reviewed.

Achievements and performance

Having served the city since 1828, HBC has a long history of engaging with the local community, encouraging faith and providing for people’s physical, social and spiritual needs.

Central to the work and witness of the church are its regular public services of Christian worship at 10.30am each Sunday which include programmes for children and young people. Occasional additional services are held held on Sunday afternoons or evenings.. Services are generally held on the church premises but occasionally in the open air at Bishops Meadow. Sunday morning services services are streamed online for those who are unable to attend in person.

HBC continues to seek to be a friendly, welcoming community. All services are open to anyone who wishes to attend, and we have been pleased to welcome new attenders, both online and in person. Full details of services are available on the church website – www.herefordbaptist.org.uk

Church and living out faith are viewed not just as ‘once a week activities’ but as part of our everyday attitude of worship. A number of HBC small groups meet during the week for the growth of faith and community.

HBC seeks to share our resources and our faith with the community that surrounds the church. Recent outreach events have included Christmas Carols at the Maylord shopping centre, with enthusiastic participation by our young people, and a very popular children’s holiday club at Easter. Our weekly Tot-Stop sessions attract a number of local young families. A monthly Kids’ Club was launched during 2024.

Our members contribute directly to wider charitable activities and the church ensures that a significant contribution is made towards other communities from its income. Specific groups that receive regular funding are the Baptist Missionary Society, the Baptist Union Home Mission, and Wycliffe Bible Translators. A new local charity supporting homeless people, The Living Hope was the beneficiary of our Christmas appeal. Levels of support provided to these and other missions are reviewed regularly by the Trustees in consultation with the members.

HBC pursues all these activities with the assistance of a paid minister and a paid part-time administrator. Our former Minister in Training, Jon Stark, became our full time minister from September 2023.

Page 3

Hereford Baptist Church

Trustees' Report (continued)

Financial review

(£1k = £1,000, 2023 figures were for a 9m month period)

Total income on unrestricted general funds for the period was £139k (2023: £115k) which included donations, gift aid, bequests, deposit interest and rental income (HBC has two manses in Hereford, one of which is currently rented out and the other is occupied by our Minister and his wife). General fund expenditure amounted to £121k (2023: £81k).

Restricted donations of £5k (2023: £4k) were received for particular charities or mission activities and passed on as appropriate. BMS World Mission and The Living Hope, benefited from specific appeals during the period.

The church is committed to granting at least 15% of its general fund voluntary income to mission organisations. This amounted to £20k for the period.

The net result for the period was a surplus on unrestricted funds of £19k (2023: £33k). The balance carried forward on unrestricted funds (excluding property) was £349k. HBC properties are held in a designated property fund with a balance of £2,834k. Restricted fund balances carried forward were £109k.

Policy on reserves

HBC does not pursue the accumulation of reserves as a policy but seeks to use the resources given to it to pursue its objectives. It has, however, recognised the need to maintain a level of reserves sufficient to meet both the expected and unexpected costs of pursuing those objectives.

HBC aims to maintain a minimum reserve equal to at least four months of anticipated expenditure. Both the level of reserves and the policy on the use of any accumulated funds are reviewed regularly by the Trustees when the charity’s accounts are prepared.

At 31 December 2024, HBC’s unrestricted cash balances stood at £330k, which equate to 31 months of anticipated expenditure for 2025.

Going concern

The current activities and level of reserves enable the Trustees to continue using the going concern basis in preparing these accounts.

Use of volunteers

The Trustees would like to thank the many unpaid volunteers who give readily of their time, experience and skills. Without this army of people, the church would not be able to run the many activities that provide discipleship, support, pastoral care and outreach to those within the church and our local community. No financial value has been attributed to volunteer time in HBC’s financial statements.

Page 4

Hereford Baptist Church

Trustees' Report (continued)

Reference and Administrative Details

Charity Registration Number: 1199579
Trustees and officers
The trustees and officers serving during the year and since the year end were as fo
Trustees: Mr I Burrell
Mr D Butterfield
Dr I Darwood (resigned 19 May 2024)
Mrs R E Hillier (appointed 19 May 2024)
Mr M Kerrigan (resigned 16 December 2024)
Mr B D Lea (resigned 19 May 2024)
Mr J Stark
Mr G Taberner
Mrs M G Willcocks (resigned 9 December 2024)
The Trustees are elected by the Church Members.
Principal Office: Hereford Baptist Church
Commercial Road
Hereford
HR1 2BP
Independent Examiner: Young & Co
Chartered Accountants & Registered Auditors
St Ethelbert House
Ryelands Street
Hereford
HR4 0LA
Bankers: CAF Bank
25 Kings Hill Avenue
Kings Hill
West Malling
Kent
ME19 4JQ

The trustees and officers serving during the year and since the year end were as follows:

Page 5

Hereford Baptist Church

Trustees' Report (continued)

Custodian trustee for property assets: Baptist Union Corporation 129 Broadway Didcot OX11 8RT

The annual report was approved by the trustees of the charity on 28 April 2025 and signed on its behalf by:

......................................... Mr I Burrell Secretary and trustee

Page 6

Hereford Baptist Church

Statement of Trustees' Responsibilities

The trustees are responsible for preparing the trustees' report and the financial statements in accordance with the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) and applicable law and regulations.

The law applicable to charities requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charities (Accounts and Reports) Regulations 2008, and the provisions of the constitution. The trustees 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.

The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Approved by the trustees of the charity on 28 April 2025 and signed on its behalf by:

----- Start of picture text -----
.........................................
----- End of picture text -----

......................................... Mr I Burrell Secretary and trustee

Page 7

Hereford Baptist Church

Independent Examiner's Report to the trustees of Hereford Baptist Church

I report to the trustees on my examination of the accounts of Hereford Baptist Church for the year ended 31 December 2024.

Responsibilities and basis of report

As the charity trustees of Hereford Baptist Church you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).

I report in respect of my examination of the Hereford Baptist Church'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 statement

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

  1. accounting records were not kept in respect of Hereford Baptist Church as required by section 130 of the Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the accounting 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.

...................................... G M John BSc FCA Chartered Accountants & Registered Auditors

St Ethelbert House Ryelands Street Hereford HR4 0LA

1 May 2025

Page 8

Hereford Baptist Church

Statement of Financial Activities for the Year Ended 31 December 2024

Note
Income and Endowments from:
Donations and legacies
Investment income
3
Other income
Total income
Expenditure on:
Charitable activities
Total expenditure
Net income
Net movement in funds
Reconciliation of funds
Total funds brought forward
Total funds carried forward
18		 Unrestricted
funds
£
115,140
14,931
8,976
139,047
(120,529)
(120,529)
18,518
18,518
3,165,441
3,183,959		 Restricted
funds
£
5,426
3,656
-
9,082
(5,458)
(5,458)
3,624
3,624
105,580
109,204		 Total
31 December
2024
£
120,566
18,587
8,976
148,129
(125,987)
(125,987)
22,142
22,142
3,271,021
3,293,163

The notes on pages 12 to 26 form an integral part of these financial statements. Page 9

Hereford Baptist Church

Statement of Financial Activities for the Year Ended 31 December 2024 (continued)

Note
Income and Endowments from:
Donations and legacies
Investment income
3
Other income
Total income
Expenditure on:
Charitable activities
Total expenditure
Net income
Gross transfers between funds
Net movement in funds
Reconciliation of funds
Total funds brought forward
Total funds carried forward
18		 Unrestricted
funds
£
89,697
10,858
14,285
114,840
(81,410)
(81,410)
33,430
380,000
413,430
2,752,011
3,165,441		 Restricted
funds
£
4,384
2,789
-
7,173
(2,299)
(2,299)
4,874
(380,000)
(375,126)
480,706
105,580		 Total
31 December
2023
£
94,081
13,647
14,285
122,013
(83,709)
(83,709)
38,304
-
38,304
3,232,717
3,271,021

All of the charity's activities derive from continuing operations during the above two periods. The funds breakdown for 2023 is shown in note 18.

The notes on pages 12 to 26 form an integral part of these financial statements. Page 10

Hereford Baptist Church

(Registration number: 1199579) Balance Sheet as at 31 December 2024

Note
Fixed assets
Tangible assets
12
Current assets
Debtors
13
Cash at bank and in hand
14
Creditors: Amounts falling due within one year
15
Net current assets
Net assets
Funds of the charity:
Restricted income funds
Restricted funds
Unrestricted income funds
Unrestricted funds
Total funds
18		 31 December
2024
£
2,857,951
9,746
429,382
439,128
(3,916)
435,212
3,293,163
109,204
3,183,959
3,293,163		 31 December
2023
£
2,826,374
10,310
440,069
450,379
(5,732)
444,647
3,271,021
105,580
3,165,441
3,271,021

The financial statements on pages 9 to 26 were approved by the trustees, and authorised for issue on 28 April 2025 and signed on their behalf by:

......................................... Mr I Burrell Secretary and trustee

......................................... Mrs R E Hillier Trustee

The notes on pages 12 to 26 form an integral part of these financial statements. Page 11

Hereford Baptist Church

Notes to the Financial Statements for the Year Ended 31 December 2024

1 Accounting policies

Statement of compliance

The financial statements have been prepared in accordance with the second edition of the Charities Statement of Recommended Practice issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011.

Basis of preparation

Hereford Baptist Church meets the definition of a public benefit entity under FRS 102. The accounts (financial statements) have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant notes to these accounts.

Going concern

Having reviewed the charity's cash holdings together with future projected cash flows, the Trustees have an expectation that the charity has adequate resources to continue its activities for the foreseeable future. The Trustees consider that there are no material uncertainties over the charity's financial viability.

Income and endowments

Voluntary income including donations, gifts, legacies and grants that provide core funding or are of a general nature is recognised when the charity has entitlement to the income, it is probable that the income will be received and the amount can be measured with sufficient reliability.

Donations and legacies

Donations and legacies are recognised on a receivable basis when receipt is probable and the amount can be reliably measured.

Investment income

Investment income, together with any associated tax credits, are included in the accounts when receivable.

Page 12

Hereford Baptist Church

Notes to the Financial Statements for the Year Ended 31 December 2024 (continued)

Expenditure

All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use. Other support costs are allocated based on the spread of staff costs.

All resources expended are inclusive of irrecoverable VAT.

Charitable activities

Charitable expenditure comprises those costs incurred by the charity in the delivery of its 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 to support them.

Support costs

Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources, for example, allocating property costs by floor areas, or per capita, staff costs by the time spent and other costs by their usage.

Governance costs

These include the costs attributable to the charity’s compliance with constitutional and statutory requirements, including audit, strategic management and trustees meetings and reimbursed expenses.

Irrecoverable VAT

Irrecoverable VAT is charged against the category of resources expended for which it was incurred.

Taxation

The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.

Tangible fixed assets

Individual fixed assets are initially recorded at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Page 13

Hereford Baptist Church

Notes to the Financial Statements for the Year Ended 31 December 2024 (continued)

Depreciation and amortisation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class Depreciation method and rate Freehold land None Freehold building improvements 10% of cost per annum Fixtures and fittings 15% of cost per annum

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Fund structure

General funds represent the funds of the Church that are not subject to any restrictions regarding their use and are available for application on the general purposes of the Church. The accounts include all transactions for which the Church is responsible in law. They do not include the accounts of Church groups that are informal gatherings of Church members.

Designated funds are unrestricted funds set aside for specific purposes at the discretion of the trustees.

Restricted income funds are those donated for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose.

Hire purchase and finance leases

Assets held for use in operating leases are included as a separate category in fixed assets at cost and depreciated over their useful life.

Rental income from operating leases is recognised on a straight line basis over the term of the lease.

Pensions and other post retirement obligations

Hereford Baptist Church provides a defined contribution pension scheme for ministers through the Baptist Pension scheme. The assets of the scheme are held separately from those of the church in an independently administered fund. Contributions to this scheme are charged to the unrestricted fund as they become payable. The church is also responsible for its proportion of the closed defined benefit Baptist Pension scheme and any deficit is recognised as a liability, discounted for the time value of money. Hereford Baptist church also provides a defined contribution pension scheme for other employees through the NEST pension scheme.

Page 14

Hereford Baptist Church

Notes to the Financial Statements for the Year Ended 31 December 2024 (continued)

2 Income from donations and legacies

Unrestricted funds
Designated
£
General
£
Donations and legacies;
Donations from individuals
4,770
90,457
Gift aid reclaimed
-
19,913
Total for period ended 31
December 2024
4,770
110,370
Total for period ended 31
December 2023
32
89,665
3 Investment income
Unrestricted
funds
General
£
Interest receivable and similar income;
Interest receivable on bank deposits
14,931
Total for period ended 31 December 2024
14,931
Total for period ended 31 December 2023
10,858
4 Other income
Rental income
Total for period ended 31 December 2024
Total for period ended 31 December 2023		 Restricted
funds
£
5,426
-
5,426
4,384
Restricted
funds
£
3,656
3,656
2,789
Unrestricted
funds
General
£
8,976
8,976
14,285		 Total
funds
£
100,653
19,913
120,566
94,081
Total
funds
£
18,587
18,587
13,647
Total
funds
£
8,976
8,976
14,285

Page 15

Hereford Baptist Church

Notes to the Financial Statements for the Year Ended 31 December 2024 (continued)

5 Expenditure on charitable activities

Unrestricted funds
Note
Designated
£
General
£
Church Activities
25
4,503
Mission
-
20,044
Ministry
-
8,962
Establishment
-
22,013
Depreciation,
amortisation and
other similar costs
2,683
1,206
Staff costs
-
50,068
Allocated support
costs
-
8,385
Governance costs
-
2,640
Total for period
ended 31
December 2024
2,708
117,821
Total for period
ended 31
December 2023
202
81,208
Church activities
Mission
Ministry
Establishment
Total for period ended 31 December 2024
Total for period ended 31 December 2023		 Restricted
funds
£
-
5,458
-
-
-
-
-
-
5,458
2,299
Activity
undertaken
directly
£
18,847
25,926
47,557
31,017
123,347
80,726		 Total
funds
£
4,528
25,502
8,962
22,013
3,889
50,068
8,385
2,640
125,987
83,709
Total
expenditure
£
18,847
25,926
47,557
31,017
123,347
80,726

Page 16

Hereford Baptist Church

Notes to the Financial Statements for the Year Ended 31 December 2024 (continued)

6 Analysis of governance and support costs

Charitable activities expenditure

Basis of
allocation
Church Activities
45%
Mission
5%
Ministry
45%
Establishment
5%
Basis of
allocation
Church Activities
45%
Mission
5%
Ministry
45%
Establishment
5%		 Unrestricted
funds
General
£
3,773
419
3,774
419
8,385
Unrestricted
funds
General
£
2,229
248
2,229
248
4,954		 Total
31 December
2024
£
3,773
419
3,774
419
8,385
Total
31 December
2023
£
2,229
248
2,229
248
4,954

Basis of allocation

Reference Method of allocation

Support costs are allocated to Charitable activities using the percentages shown A above based on estimated time spent by staff

Page 17

Hereford Baptist Church

Notes to the Financial Statements for the Year Ended 31 December 2024 (continued)

Governance costs

Independent examiner fees
Examination of the financial statements
Total for period ended 31 December 2024
Total for period ended 31 December 2023
7 Net incoming/outgoing resources
Net incoming resources for the year include:
Depreciation of fixed assets		 Unrestricted
funds
General
£
2,640
2,640
2,983
31 December
2024
£
3,889		 Total
funds
£
2,640
2,640
2,983
31 December
2023
£
1,373

8 Trustees remuneration and expenses

During the year the charity made the following transactions with trustees:

Mr J Stark

Mr J Stark received remuneration of £26,778 (2023: £14,468) during the year.

Pension contributions of £3,600 (period to 31 December 2023: £1,115) were paid by the Charity.

The remuneration is paid for employment with the Charity which was not in respect of the trusteeship.

Page 18

Hereford Baptist Church

Notes to the Financial Statements for the Year Ended 31 December 2024 (continued)

9 Staff costs

The aggregate payroll costs were as follows:

Staff costs during the year were:
Wages and salaries
Pension costs		 31 December
2024
£
45,717
4,351
50,068		 31 December
2023
£
26,481
1,893
28,374

The monthly average number of persons (including senior management / leadership team) employed by the charity during the year expressed as full time equivalents was as follows:

Charitable services
Administration and part-time cleaners		 31 December
2024
No
1
1
2		 31 December
2023
No
1
1
2

3 (2023 - 3) of the above employees participated in the Defined Contribution Pension Schemes.

Contributions to the employee pension schemes for the year totalled £4,351 (2023 - £1,893).

No employee received emoluments of more than £60,000 during the year

10 Independent examiner's remuneration

10 Independent examiner's remuneration
31 December 31 December
2024 2023
£ £
Examination of the financial statements 2,640 2,772

Page 19

Hereford Baptist Church

Notes to the Financial Statements for the Year Ended 31 December 2024 (continued)

11 Taxation

The charity is a registered charity and is therefore exempt from taxation.

12 Tangible fixed assets

Cost
At 1 January 2024
Additions
At 31 December 2024
Depreciation
At 1 January 2024
Charge for the year
At 31 December 2024
Net book value
At 31 December 2024
At 31 December 2023
13 Debtors
Trade debtors
Prepayments		 Land and
buildings
£
2,822,540
14,953		 Furniture and
equipment
£
Total
£
67,191
2,889,731
20,513
35,466
87,704
2,925,197
63,357
63,357
1,206
3,889
64,563
67,246
23,141
2,857,951
3,834
2,826,374
31 December
2024
£
31 December
2023
£
5,159
5,752
4,587
4,558
9,746
10,310		 Furniture and
equipment
£
Total
£
67,191
2,889,731
20,513
35,466
87,704
2,925,197
63,357
63,357
1,206
3,889
64,563
67,246
23,141
2,857,951
3,834
2,826,374
31 December
2024
£
31 December
2023
£
5,159
5,752
4,587
4,558
9,746
10,310
2,837,493
-
2,683
2,683
2,834,810
2,822,540
10,310

Page 20

Hereford Baptist Church

Notes to the Financial Statements for the Year Ended 31 December 2024 (continued)

14 Cash and cash equivalents

14 Cash and cash equivalents
Cash at bank
15 Creditors: amounts falling due within one year
Other creditors
Accruals		 31 December
2024
£
429,382
31 December
2024
£
81
3,835
3,916		 31 December
2023
£
440,069
31 December
2023
£
-
5,732
5,732

16 Pension and other schemes

The charity operates a defined contribution scheme. The pension cost charge for the year represents contributions payable by the charity to the scheme and amounted to £4,351 (2023 - £1,893)

Page 21

Hereford Baptist Church

Notes to the Financial Statements for the Year Ended 31 December 2024 (continued)

Defined benefit pension schemes Baptist Pension Scheme

The Church is a participating employer the Baptist Pension Scheme (“the Scheme”), which is a separate legal entity administered by the Pension Trustee (Baptist Pension Trust Limited). The Scheme, previously known as the Baptist Ministers Pension Fund, started in 1925. At the beginning of the financial year, the scheme comprised of a defined benefits scheme which was closed to future accrual on 31 December 2011 and a defined contribution plan which was opened in January 2012.The assets of the Scheme are held separately from those of the Employer and the other participating employers.

For the current financial year, the pension provision for members of the Scheme is being made through the Defined Contribution (DC) Plan. In general, members pay 8% of their Pensionable Income and employers pay 6% of members’ Pensionable Income into individual pension accounts, which are operated and managed on behalf of the Pension Trustee by Broadstone Corporate Benefits Ltd. In addition, the employer pays a further 4% of Pensionable Income to cover Death in Service Benefits, administration costs, and an associated insurance policy which provides income protection for Scheme members if 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 Aviva Limited. Furthermore, members of the Basic Section pay reduced contributions of 5% of Pensionable Income, and their employers also pay a total of 5%.

In October 2024, the insurance company Just Group completed a buy out of the liabilities of the closed defined benefit scheme. From that date any remaining liability of the participating scheme members to defined benefit scheme ceased and the £1 per month deficit contributions payable by the participating employers which were agreed in the recovery plan approved in August 2022 also ceased from that date. Administration of the closed defined benefit scheme transferred from the pension trustees to Just Group from that date.

The Minister is eligible to join the Scheme.

Section 28.11A of FRS 102 requires agreed deficit recovery payments to be recognised as a liability. The present value of the agreed deficit contributions were immaterial at the beginning of the financial year and were fully extinguished once buy out was completed by Just Group in October 2024.

Page 22

Hereford Baptist Church

Notes to the Financial Statements for the Year Ended 31 December 2024 (continued)

17 Commitments

Capital commitments

The charity paid a 70% deposit during the year towards a new AV sound system which has been capitalised as equipment. The remaining 30% is due to be paid next year after the installation is complete.

The total amount contracted for but not provided in the financial statements was £7,326 (2023 - £Nil).

Page 23

Hereford Baptist Church

Notes to the Financial Statements for the Year Ended 31 December 2024 (continued)

18 Funds

Unrestricted funds
General
Designated
Total unrestricted funds
Restricted funds
Total funds
Unrestricted funds
General
Designated
Total unrestricted funds
Restricted funds
Total funds		 Balance at
1 January
2024
£
341,498
2,823,943
3,165,441
105,580
3,271,021
Balance at
1 April
2023
£
2,750,437
1,574
2,752,011
480,706
3,232,717		 Incoming
resources
£
134,277
4,770
139,047
9,082
148,129
Incoming
resources
£
114,808
32
114,840
7,173
122,013		 Resources
expended
£
(117,821)
(2,708)
(120,529)
(5,458)
(125,987)
Resources
expended
£
(81,208)
(202)
(81,410)
(2,299)
(83,709)		 Transfers
£
(14,953)
14,953
-
-
-
Transfers
£
(2,430,610)
2,810,610
380,000
(380,000)
-		 Balance at
31
December
2024
£
343,001
2,840,958
3,183,959
109,204
3,293,163
Balance at
31
December
2023
£
353,427
2,812,014
3,165,441
105,580
3,271,021

Page 24

Hereford Baptist Church

Notes to the Financial Statements for the Year Ended 31 December 2024 (continued)

The specific purposes for which the funds are to be applied are as follows:

Designated Funds:

Restricted Funds:

Page 25

Hereford Baptist Church

Notes to the Financial Statements for the Year Ended 31 December 2024 (continued)

19 Analysis of net assets between funds

Tangible fixed assets
Current assets
Current liabilities
Total net assets
Tangible fixed assets
Current assets
Current liabilities
Total net assets		 Unrestricted funds
General
£
Designated
£
23,141
2,834,810
323,776
6,148
(3,916)
-
343,001
2,840,958
Unrestricted funds
General
£
Designated
£
3,834
2,822,540
343,396
1,403
(5,732)
-
341,498
2,823,943		 Restricted
funds
£
-
109,204
-
109,204
Restricted
funds
£
-
105,580
-
105,580		 Total funds at
31 December
2024
£
2,857,951
439,128
(3,916)
3,293,163
Total funds at
31 December
2023
£
2,826,374
450,379
(5,732)
3,271,021

Page 26

Hereford Baptist Church

Detailed Statement of Financial Activities for the Year Ended 31 December 2024

31 December 2024
Unrestricted funds
Restricted
Designated
£
General
£
funds
£
Income and Endowments from:
Donations and
legacies (analysed
below)
4,770
110,370
5,426
Investment
income (analysed
below)
-
14,931
3,656
Other income
(analysed below)
-
8,976
-
Total income
4,770
134,277
9,082
Expenditure on:
Charitable
activities
(analysed below)
(2,708)
(117,821)
(5,458)
Total expenditure
(2,708)
(117,821)
(5,458)
Net income
2,062
16,456
3,624
Gross transfers
between funds
(analysed below)
14,953
(14,953)
-
Net movement in
funds
17,015
1,503
3,624
Reconciliation of funds
Total funds
brought forward
2,823,943
341,498
105,580
Total funds
carried forward
2,840,958
343,001
109,204		 31 December 2024 31 December 2024 Total
£
120,566
18,587
8,976
148,129
(125,987)
(125,987)
22,142
-
22,142
3,271,021
3,293,163		 Total
31 December
2023
£
94,081
13,647
14,285
Restricted
funds
£
5,426
3,656
-
9,082
(5,458)
(5,458)
3,624
-
3,624
105,580
109,204
122,013
(83,709)
(83,709)
38,304
-
38,304
3,232,717
3,271,021

This page does not form part of the statutory financial statements. Page 27

Hereford Baptist Church

Detailed Statement of Financial Activities for the Year Ended 31 December 2024 (continued)

31 December 2024
Unrestricted funds
Restricted
Designated
£
General
£
funds
£
Total
£
Donations and
legacies
Donations -
Totstop
20
-
-
20
Appeals and
donations
4,750
-
-
4,750
Donations -
Earmarked
-
-
20
20
Donations -
Missions
-
-
5,406
5,406
Donations -
General
-
90,457
-
90,457
Gift Aid tax
reclaimed
-
19,913
-
19,913
4,770
110,370
5,426
120,566
31 December 2024
Unrestricted
funds
Restricted
General
£
funds
£
Total
£
Investment income
Interest on cash deposits - Building
-
3,076
3,076
Interest on cash deposits -
Broadmoor
-
580
580
Interest on cash deposits - General
14,931
-
14,931
14,931
3,656
18,587		 Total
31 December
2023
£
32
-
420
3,964
71,672
17,993
94,081
Total
31 December
2023
£
2,257
532
10,858
13,647

This page does not form part of the statutory financial statements. Page 28

Hereford Baptist Church

Detailed Statement of Financial Activities for the Year Ended 31 December 2024 (continued)

Other income
Rental income
Charitable
activities
Missions and
charitable
donations
Missions and
charitable
donations
Missions and
charitable
donations
Communion
supplies
Guest preacher
costs
Minister's salaries
Superannuation
Youth ministry
costs
Youth ministry
costs
Youth ministry
costs
Fellowship
catering
Manse expenses		 31 December 2024
Unrestricted
funds
General
£
Total
£
8,976
8,976
8,976
8,976
31 December 2024
Unrestricted funds
Restricted
Designated
£
General
£
funds
£
Total
£
-
-
(300)
(300)
-
-
(5,158)
(5,158)
-
(20,044)
-
(20,044)
-
(101)
-
(101)
-
-
-
-
-
(26,755)
-
(26,755)
-
(3,648)
-
(3,648)
(25)
-
-
(25)
-
-
-
-
-
(3,242)
-
(3,242)
-
(1,261)
-
(1,261)
-
(8,861)
-
(8,861)		 Total
31 December
2023
£
14,285
14,285
Total
31 December
2023
£
-
(2,179)
(14,700)
(101)
(110)
(14,804)
(1,514)
(202)
(120)
(4,695)
(621)
(9,097)
Unrestricted funds
Restricted
Designated
£
General
£
funds
£
-
-
(300)
-
-
(5,158)
-
(20,044)
-
-
(101)
-
-
-
-
-
(26,755)
-
-
(3,648)
-
(25)
-
-
-
-
-
-
(3,242)
-
-
(1,261)
-
-
(8,861)
-

This page does not form part of the statutory financial statements. Page 29

Hereford Baptist Church

Detailed Statement of Financial Activities for the Year Ended 31 December 2024 (continued)

Wages and
salaries
Staff pensions
(Admin)
Staff pensions
(Cleaner)
Cleaners wages
Water rates
Light, heat and
power
Insurance
Health and safety
Repairs and
maintenance
Portacabins
Equipment repairs
and renewals
Telephone and fax
Computer
software and
maintenance
costs
Printing, postage
and stationery
Trade
subscriptions
Sundry expenses
Sundry expenses
Bank charges
Depreciation of
freehold property
Depreciation of
fixtures and
fittings		 31 December 2024 31 December 2024 Total
£
(13,346)
(422)
(281)
(5,616)
(164)
(7,469)
(3,988)
-
(4,952)
(3,287)
(2,153)
(1,380)
(1,775)
(1,849)
(1,774)
(1,232)
(255)
(120)
(2,683)
(1,206)		 Total
31 December
2023
£
(7,851)
(188)
(191)
(3,826)
(283)
(5,144)
(3,016)
(538)
(3,059)
(1,638)
(522)
(892)
(1,236)
(874)
(1,078)
(729)
-
(145)
-
(1,373)
Unrestricted funds
Designated
£
General
£
-
(13,346)
-
(422)
-
(281)
-
(5,616)
-
(164)
-
(7,469)
-
(3,988)
-
-
-
(4,952)
-
(3,287)
-
(2,153)
-
(1,380)
-
(1,775)
-
(1,849)
-
(1,774)
-
(1,232)
-
(255)
-
(120)
(2,683)
-
-
(1,206)		 Restricted
funds
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-

This page does not form part of the statutory financial statements. Page 30

Hereford Baptist Church

Detailed Statement of Financial Activities for the Year Ended 31 December 2024 (continued)

31 December 2024
Unrestricted funds
Restricted
Designated
£
General
£
funds
£
Total
£
(2,708)
(115,181)
(5,458)
(123,347)
31 December 2024
Unrestricted
funds
General
£
Total
£
Governance costs
Accountancy fees
(2,640)
(2,640)
Legal and professional fees
-
-
(2,640)
(2,640)
31 December 2024
Unrestricted funds
Designated
£
General
£
Total
£
Gross transfers between funds
Funds - Transfer from another
fund
-
-
-
Funds - Transfer from another
fund
-
(14,953)
(14,953)
Funds - Transfer to another fund
14,953
-
14,953
14,953
(14,953)
-		 Total
31 December
2023
£
(80,726)
Total
31 December
2023
£
(2,772)
(211)
(2,983)
Total
31 December
2023
£
(380,000)
(2,430,610)
2,810,610
-

This page does not form part of the statutory financial statements. Page 31

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