The Charity Registration Nutnber is =_ 1201058 The Baplisi Union of Wules Reporl and Accounls Periodfrom J 7 November 2022 10 31 December 2023 Cross & Bowen Cl￿rtered CertlJled Accountants Riverside House Nornandy Rotyd Swttnsea SAI 2JA The Baptist Union of Waltt Report and aceounts for the period from 17 November 2022 to 31 Dteember 2023 Contents P*2e Chfirity informlltion Tr￿stee5, Annual Report StAttmtnt of Trusttts, resportsibilititt Independent rluditors, Report Sialejnents... SlatLmLnt ol'l.'inancial Aciiviiies 16 Balance sheet 17 C'%$h flow stAitmen¢ 18 Note5 to the accounts 20 The Baptist Union of Wales Trustees, Annual Report for the period from 17 November 2022 to 31 December 2023 Th¢ Truylees pre￿ent their Report and AccuutLls fur the petiod from 17 N0ve￿be1 2022 10 31 DecetnbeT 2023. Reference gnd adminis¢r4tive det#iiq The cliorio, name. Th¢ legal name of Ihe charity is.'- The Bawl￿ UThion ot'wales. 'rhe charity is also known bi. lis orÉfaiing name. Ilndeb Fkdi'ddM)T C)Tnru. The chrtrlij s Iwerailott l..K chrtnitsble regis1r￿10 'rh¥ ¢harili is r¥gis14f4'd in kth8lartd & wall￿ M'iih th¢ Clwiiv Commission in Engl￿d & Wal¥S ICCEWI with ¢harily nUM￿'r l ?tt1058. 'rhL Lhariij doLs noi operate in ani. oierse&s jurisdiaion& Legftl.Tiru¢iure 'Ihi chur11￿ is LiinyliluiLsJ a C'huril4ibl& In&I?r￿￿r￿t￿d l)r¥ani>aiion IC'I()l in l.'ngliiiid & Walis.'1-111 &7uv¥ming di)Lumint i)I'ihi churit￿ 1.% Ihi Li)n.%liluilv￿ ul'ihi Q'll) approviyl bi. Ihl Lhariii Comtnission iii l..n¥land & Il'ul¥s ILL-I.'WI The govemin&y documenl is dated 17111120?2 There are no restrictions in the Lyoverning documents on ihe operdtion of the Charily or on ils investn)ent powers other than ihose imposed by Charily Law. The principal operating Addre￿ telephone number. email and web Addresses of the charity are:_ Y l.IwNfdn I l¥ol } C-.ol¢g. l￿￿rddin SA313E.:Q 'l¢lephon¢ 0345 2?2 1514 Email AddNss posinuJUtK'.cTrmru WLb address ¥'wM.buw.wales The Trustees in office on the date the report was *pprw'ed were:_ Datr of appointmtnt 31107..'!0?3 R¢vd St¢ve Wallis R¢vd EinlNn Dole 3110712023 Mrs Ann Bowln Morgan Rei'd Judith Mo￿1%. BA Mphil. MTh Mr Gll'ndivr PridLaiix liss De1￿1h William5 Mr F'rancis Maull Mr. Bill Davics Ichairl Revd NTerNTrn Rigg 3110712023 2022 3110712023 3110712023 3111)7..2O23 31107..2023 OIK1012023 The Baptist Union of Wales Trustees, Annual Report for the period from 17 November 2022 to 31 December 2023 Tht following persons served xs Trusttt5 durin¥ the ptriod from 17 Novtmbtr 2022 to 31 Dectmbtr 2023 =. The Irusiets who strvtd i?s a Irusitt it) Iht reporting ￿rIOd are shO￿.n &$ folloms along ii'iih Ihe dale of appoiniinenilresignaiion.. Re%trtnd Aled Dalies Ir¢signed 29 Nqarch 20?31. Mr Bill Davies Ichairl: Nlr GIN'ndwr Prid¢auK' Reverend Judith Morris.. Reierend Dr Helen Dart (rtsigntd 29 Nlarch 20231.. Nlr Francis Maull.. Rtvtrtnd Jonailian Forman Irtsigntd 26 Oe minisiries and by. such oiher mdhods as ihe councils or joini council shall deiem)ine. 4. -1.0 afford opportunities for conference and for uniied aciion on questions affectii)b ihe w'elfare ofthe Churches, the support of the minisir>' and the exiension ofihe Christian faiih. both ai home and abroad., 5. To promotc &?ood rclatiotLS between Bapii5ts in this and other couiitries.. 6. To safebTuard the propcrtlC5 and interests of th¢ Union and its rhurche5. and to consider the most appropriate iiieans to nurture tli¢se re.sour¢e5 for ¢h¢ g(bod of the Uiiion. the ¢hurche5 and ihe Kingdom of Chrisl.. 7. To obthin and disseminate accurate information re5peciing ihe organisaiions. labours and sufferings of Baptists throughout the WOTld; and 8 to confer and C￿Operate with other Chris(ian communiiies as occasion ma) require. The main aciiviiies undertaken irt relallon lo ih05epuryfvoses duriiig iheperiod The Union wa5 established as a CIO on 17 Novembcr 2022. On 31 July 2023. the a55ets and liabilitie5 of the Baptist Uniotl of Il'ale5 w'ere tran5fcrred to the new CIO and on l August 2023. the CIO took over the activitics of thc Baptist Union of W'ale5. During ?023 the main activities have been.. l. Support of Union officers io churches, associaiions and minisiers. ? Planning for Annual Conferences 3 Ensuring Minis¢ers were up lo dale in relaiion io Safeguarding requirements and Churches reminded of their responsibiliiies. 4.Developmeni and Approval of a Minisierial Code of Conduc( 5. Inclusion of a New Ministerial Category for Mi55ional MinisteTS 6. Inital Consideration of 2041 Report 7.Ongoing Strnctured Support to Ministers and New Minister5 8. Mission AsSeSs￿ent of Redundant Buildin￿. 9. Launch of a Christian Aid Appeal The Baptist Union of Wales Trustees, Annual Report for the period from 17 November 2022 to 31 December 2023 The short term and longer lerm and objecliveK Short-I'erni- To review the work of the Union so as io ensure that priorities and level of investment is appropriaie. l.onger Term.. To identify. and support ne￿ mission Op￿rnin11]eS wilh the Associacions and churches as the number of traditional churches decline and seek nem. ￿'av5 io suppon minisiry, within the coniexi of ihe ?041 Report. The Union operate5 by providing support. and Mhere appropridle. leadership. lo tnember churLlies as they seek to work in their OWlL communilies and in their language. This support includes help lo discern strai¢&ri¢s for ¢hur¢h lif¢, pracii¢al and finan¢ial ossistan¢¢ as appropriarc. as ￿¢1] as provision of l¢gal and administrdtive services (largely ihrough the Welsh Bapiisi Union Corporation Lin)iredl: ajid ir is Ihe inicnlion of the Union, by pr()viding support. io help enable churches io respond ro their calling. The Union ha_s also. in co-operation ￿1th ihc Welsh Baptisi ljnion Corporaiioi) Limiied. facili¢aied ihe realisation of the vision of ihe women's movemeni of the churches to provide resideniial care for the elderly at the Welsh Bapiisi home at Glyn Nest. Ne￿castle F.ml)'n. In the COLirse ofiheir nianagemeni of the Union. Ihe irumees have regard for ihe public benefii provided by Union aciivities. and ihis is a feature tmmh of the Union's work in support ofmember churches. and of i(S Owrt dire¢t a¢tiviiies, as follows.. l. Through supporting mernber churche5 Meniber churches provide public benefii IhrouLh nornal cliurch activities, includin& {but noi reslricted tol provision ofpublic w'orship opponuniiies. as w'ell as oiher benefits such as provision of church halls for meetinss of local groups. of cemeteries used by the M'ider communiis,. Sunday schools, >ouih work. &iroup and personal acis Orkindne￿ in the community. including care of the sick. dyinu). and bereaved. counselling. debi coiinselling. provision of food banks. luncheon clubs and cafés. In addition. Union support to churches includes a551siin8 chLirches in complying w'ith statutory. requireinents for safebjuarding vuli)erable individuals. with a view to en5urirtg both the prevention of harni and adoption of good practice. Union support for churche5, whether by direct financial grdnl tow'ard5 niinist¢rial stipends or sp¢¢ifi¢ proje¢t5. mea%ur¢d a¢cordingi ¢0 need, or by. en¢ourag¢m¢ni. or administrative and l¢gal support. fa¢iliLal¢s the public benefits provided by supponed member churches. Paymeni of the member church contribution by a church for a year (sel ai £?0.00 per reponed member ora church in 20?31 eniiiles a church to all benefits of menibership: and in practice, apart from ihe righ( ¢0 aiiend Ihe annual conference. and io be considered for financial supporl. the general pastoral benefiis ofunion membership are noi usually ￿11hheId solely because membership Lontributions hdve not been paid. The decision to exclude from Union membership and all benefits is taken only after careful con5idtration along with pastoral con5iderdtion5 to a non-pa)'in¥ church. 2. Bv direct activities In addition. the Union act5 directly to provide public benefit bv the advancement of the Gospel of Christ i accordance M'ith the principle% of the Baptists- bv publishing resources. l)oth prinied and digital, suiiahle to enhan¢e worship and leaching, boih alone ond wilh other Chrisiion groups: bj. supporting students in ministerial Iraining: by encouraging and supporting Ministers to rake sabbaticals; by. arranging minisrerial and leadership reirea(s and conferences=facilithiing schemes io SUPPL)rt churches in mission and by contribuiing with oiher groups 10 Chrisiian withess in Mai￿r5 of social jusiice. The Baptist Union of Wales Trustees, Annual Report for the period from 17 November 2022 to 31 December 2023 Deloils ofsignificanl activities (including its main progrnmmes. projec15. or services provided) Ihal conlribute lo ihe achievemenl oJihe slaled objeclives. 'For¥e CJTnru'_ Mission81 Training.. A Significant atnount of work and resources were invested to equip our churche5 for mission in contemporar%' Wales further to a decision n￿de bj. both Ministry and Mission Boards io invite Canieron Roxburgh to deliver the Forge C)qnru trdining. 'Category 7 Missional Ministers'_ A proposed ne￿. ¢aiegory for missioiial minisrers was approved which recognisc_% and atTirnis missional minisir), M'iihin our styucwres. provides a trdining parhway for those called io missional minisiry and offers a styucNred care and support package for those engage in ihis minisiTr'. 'Overseas Mission Work-ers'_ The Union coniinues ts) ￿.0￿. Miih overseas mission w'orkers ihrliugh ihe VISA sponsorship progrdmme. The applicaiion process for Minsi￿rIal candidates M'as also reviewed. The c'onlrihutliin of vulunieen durinx 1heperl4￿. The Union rclics heavily on Yoluniecr committec membcrs who contribuie both Liencral knoM,ledgye of church life and spccialisi cxpcnisc. The Union values highly the contribuiion of the voluiiieer con)iiiiitee meinbers without ￿,hoM li could noi operaie. Grunl makinx pi)licie.s and htsw ihe.se Liinlrihuled io ihe achievemenl ipfihe L'hurily'.i uim.s und iihjeL'live.I durin% theperiod. The Union makes granis oui of funds. l)oth io ¢hur¢hes and interthchurch proje¢ts. and io individuals. It has established o grants panel whi¢h deals wilh requests from ChU￿h¢S and individu)ls for finan¢ial suppgrt. The panel meets approximately thrtt times a year. Eight churches received ministerial grant aid during 2023. The main Achievements And perfomance of tht eharity during the period. A working group was established to consider lifelong learning opportunilies for Ministers. A meeting of the Grants panel was held lo consider applicaiions from Churches and Siudents. Four induction services were held for ne￿ Ministers. Work was undenaken with ihe Inierdenominaiional Safeguarding Panel io ensure (hai appropriate policies and procedures ￿'ere properl), implemenied in our churches along w'iih DBS checks and training. Upda￿5 to the Safe¥uarding Handi)ook w.ere circulated. In addition. Ihe Ministry Board Considered and approved a response prepared bj. the Panel in relation to the Independent Inquiry into Child Sexual Abuse. Monthly Ministerial SuP￿rt Meetine5 w'ere held over Zooni which offer an opportunity for leaTning, fellowship and worship. Discusslons commenced in relation to an ini(ialive specifically for youi)ger people. Fundruising activities during ihe period. The charity relie5 on investtnent income and on member contributiOll5 to its budget, and also receives gift5 from other donor5, whose support Is valued, aniL on Occasio￿ as ultimate beneficiary in the trust5 for chapel properties when finally closed for worship. The Baptist Union of Wales Trustees, Annual Report for the period from 17 November 2022 to 31 December 2023 The difference ihe charityi'sperformance during iheperiod has made lo ihe beneficiaries of ihe charity. An infomiation docuni¢nt is prepared annuallv for all churches M'hich s¢ts our Ihe benefits of the servi¢¢s provided by the charity in relaiion io the menibership subscription fee paid bv the churches. li refers to benefjis such as ministry and mission grants. minisierial accrediiaiion, swdeni grants, safeguarding, guidance in relation io buildings. cemeiries and irusi deeds and excepied chariw sthrus. This documeni is provided to all churches when requesiing ihe contribuiion ts)Mards the consolida￿d budget. The degree lu which ihe achievements andperformunce during iheperiod have beiiefiled wider &vLiety. The Ilnion believes thai the following are examples of the ways in which the wider society benefiis.. Proclaiming (he Gospel of Jesus Chrisi according io ihe Baptisi iradition and providing on-line services for members and the wider communiry.. Provision ofsocial activities b>. a number of the Union's churches such as njnning ioddler groups. lunch Llubs, }'outh clubs. holiday ¢lubs,well being cenires. food banks. nighi sheliers and street pastor schemes. Fa¢ililation of 'Op¢n th¢ B(>ok' s¢h¢m¢s in I￿41 ￿hr￿ls. Raisingj awareness and respondingy ¢0 issues such as ihe refugee crisis. Grdndmotherfs Peace Initiative and policy updates in relation to the educalion cU￿1cUlum. Raising cultural awareness by opening chapels io ihe public on days other than Ifvhen services are held. On-s>oinb7 SUPPOrt in conjunction with the Welsh Bawist Union Corporaiion Limited to Gl>1) Nest Resideiiiial Care Home for the Elderly. The.¥iRnifiLanl charilable aclivilie.s underlaken in iheperifjd. The chariiable activities undenaken by the charity included the provision of support and encouragement for churches to secure ministry ihrough ihe provision of minis￿rial grdnts and grdnts in suppori of local mission enierprises. Faclurs relevanl lo ihe achievemenl ofihe chfirifj s objeclives The trustees are acutely aware of the challenges faced by ihe Church in a post-christian age. with hea seLular influences where levels of spiriiuali(v. and ofreligion expressed in ihe communiij are low bui are whullj. Lommitted to making the name ofJesus known. The Charity is aciivel>' seeking (o ei)¥a¥e with the youn¥ei ¥eneration and Ih05e ￿'hO are not represented within our decision makin¥ structure5. Work ha5 als commenced in responding to the 2041 report which 5et5 Out the likel}, 5tatlStical picture of the Union'5 churches in around twenty y¢ar5 and the ways in which responses can be tnade to the challenges. The Baptist Union of Wales Trustees, Annual Report for the period from 17 November 2022 to 31 December 2023 Theperformanee olmaterialfundraising aeiivilies dmriiig iheperiod dgainsi ihefundraising ohjeelive.s sei. Despite th¢ cost of living pressures and the challenges arising from living in a secular S￿iety a high number of churches responded posiiively 10 the requesi for subscripiion payThents. Savii)gs have contiiiued io be realised ihrough ihe faciliiation of online meeiings bui the need io hold occasional face 10 face meeiings has also been recognised. Inve.slmenlperformonce aRainsi ihe inveslmenl objeelives. In th¢ financial review S¢¢iion of this r¢port th¢r¢ is o d¢scription of the inv¢%tn]¢nt poli¢i¢s and obj¢¢liv¢s ¢slablished by the tru5t¢e5 8nd ihe extent lo which social environmenthl or ethical ¢onsid¢ration5 Jr¢ taken into accouni. The investmeni perfomiance achieved againsi ihe objectives sei was saiisfaciory. Structurei governance and management of the eharity The meihud.i used reL'ruil and uppoiiil new charity. Iruilee. Trusiees are appointed in accordance wilh the rules and regulations sei down within the constiiution. ThepiJllcle.s llndprucedure.ffiir ihe induclion and¢r￿1￿1￿% of1r￿lite.S. Although thc Trustees are expcrienccd in their own fields. the need for induclioi) aiid trainitlb procc55e5 15 fully re¢ogni5¢d and a truslee induciion pack is ￿l￿g planned. Trusle¢ training 15 facili¢at¢d on ai) aniiual ba51S. The organi5aiional 51ruciure ofihe charity and how deci510115 are made. 111 20?3 there ￿'ere 296 churches iii member%hip with the Baptist Union of Wales which coiisi5ts of a Welsh l.anguage and F.nglish l.anguage Wing. Approximaiel) tw'o thirds of those ¢hurch¢s coiniiiuiiicate enrirely Ihrough the medium of Welsh. a fem. ChU￿he5 operAie bilingually whilsi Ihe others communicate in English. Each Church is located w'iihin Ihe boundaries ofone of the I l AsS￿lai10nS and is in membership wilh eiiher Ihe Welsh Language or English Language Wing. The Councils. ￿'hO apwini ihe Trusiees. generall}, nieet annuall) and are accouniable to ihe Annual Assemblies at which representsiives of churches may vole. The Tru5tee5 are responsible for mana¥ing ihe Union and dele¥aie manv ofthe da>" io day decisions 10 the General Secretary who meets II"ith the Chair of the TtU5tet Board and Tiea5urer on a re¥ulai basis. Matters in relation to Ministry. Mission, Church and Social Re5pon5ibilih' and Finance are delegated to the appropriate Board5 and Committee5 which agrtt policy for these areas. The General Secrelarj lo whom daji lo daj. managemenl is delcguled The name ofthe General Secreiary. 10 m.hom dai" 10 day managemeni of the charity is delegatrd by the ¢harit>' trustees, is Reverend Judith Anne Mottis. BA, MPhil. MTh. The Baptist Union of Wales Trustees, Annual Report for the period from 17 November 2022 to 31 December 2023 The ehority as a part ofa wider nefvtsrL The Union is in &ssociation iviih oiher Bapiists ihrough umbrella organisaiions such as rhe BMS World MissionlBaptist Missionary, Society). Baptist W'orld Alliance and ihe European Baptisi Federdtion, as well as Ihrough specilLC associaiion with Bapiisi oiganisaiions ihioughoui Ihe world. li eowopeiaieg with oiher churches in Wales through organisations such as Cytun {Churches Together in ￿laIt$) and the Free Churches Group; arhd in connection with Safeguarding the Interdenominational Safeguarding Panel. The charity s rellllionships wilh relaledparlie Over and above ihe financial relaiionship {io ￿"hICh reference is made in ihe financial sthcementsl between Ihe Union and lis relaied panies. Ihe Union provides encouragement and nunuring to the individuals directly responsible and also in some cases adminisiraiive support. The relaied parties are.. The Welsh Baptist Union Corporation Limiied Welsh Baptist lllsurance Servi¢¢s Limi1¢ The Glyn Nest Baplisl I lome The Baptis¢ Building Fund for Wales The charity's relationships with other groups* eharilies indii'iduals The Union has formal rela¢ionship5 w'iih Baptisi and oiher Christian cominuniti¢s in the followiii ()r&anisations'. E3apiisl Union of Great Britain, ai national and regional levels Bapiisl Union of Scoiland Lllow'ship of Bdptisis in Briiain and Ireland BMS World Mission Bapt151 Partnership in Wales CvtLin IChurehe5 Together in Wales) and Free Churches Group Inlcrdcnoniinational Safcguardin8 Panel F.Liropeati Flapii%t F¢deration Flaptisl World Alliance Cyngor yr Ysgolion Sullwelsh Sunda). Schools Council) Pwyllgor v 4 Ysgrilennydd (Commiiiee of General SeCre￿ne5 of 4 Denominations) Welsh Places of Worship Forum Ilank¢rs Unili. Bank" PLC- Solicitors Pothicar% Wiiham WLld. 84 Eeelcsion S4uarL. Pimli' 2023. asseis with a value of £3.688.?06 M"ere iransferred fron) Ihe previousl>, rebiisiered Baptist Union of Wales charit>'. These assets have been incliided in ihe totsl income for ihe year of £3.807.837. 1-he newly rebpisiered CIO coniinued with ihe work. of ihe previously registered charity and incurred expenditure of £187.360 in the period from 1st August 20?3 to 31st De¢tmb¢r 2023. A5 with the previously registered charily. Ihe Bapiisi Union of Wales remaiiis reliant on the continued financial support from the We15h Baptisi Union Corporaiion Limited and the Baptist Building Fund for Wales. The chariiJ'5financialp0511ion ai ihe reporling dale, JJ December 2023 The financial position of thc charity at 31 December 2023 . as more fully detailed in the accoui)ts, can be summarised as follows:. Unresiricied Revenue Funds available for the general purw5e5 of the ¢harit>' .871.820 Restricted Revenue Funds 1.859.322 Total Fund5 3.731.142 SpecifLC changes in fixed assets are detailed in the notes to the accounts. At 3 1st December 2023 the rnarket value of the investments of the charity was £3,506.403 and the cash reserves were £232,479. The Baptist Union of Wales Trustees, Annual Report for the period from 17 November 2022 to 31 December 2023 Policies on reservej. The policy is to ¢nsur¢ that the Union has suifi¢i¢ni frtt and available funds to rn¢¢t at least 3 months of annual budgeted expeniliture. In addition. the T￿S￿¢S consider li is prudent to provid¢ for a further 3 months for funding grants to churches wid associaiiojis. Ai 31 Dccejnbcr ?023, Ihis figure 15 estimated at £250.000. w'hich is more ihan covered bj. Ihe curreiii value of unresiricted reserves. Avuilability and (iilequuLy of assets of each ufihefunds The board of TrUS￿e$ is saiisfied thai ihe charity's assets in each fund are available and adequaie to fulfil its oblig)aiions in respeci of each fund. As ihe Baptisi Union of Wales. core income decreases year on >'ear and the operaiiiibw costs Continue io rise. represeiiiaiives of ihe Baptist Union of W'ales Fii)ance Commiiiee ai)d the Welsh Bapiisi Union Corporation Limiied continued io meet 10 revieH" the financial relaiioiisl)ip beiM'e¢n the two bodies irt order 10 pla¢¢ the funding of the Baplisi Union of Wales on a firn)er basis. Si%nificanl evenl.f which have affecledihefiiiaiicialperformonce and ihefiiiaiicialpiJ.iiliipii. Apart from the volatility of the 510¢k market. there have been no significant events during the year that have affected the financial perfomiance or the financial position. 1nve.flmenlpiilicj' andinve.slmenl objeclive5. The Union has indicated to its invesimeni advisors an aiiitude 10 invesiment balanced for capithl and income. ith risk limited as is appropriaie for chariiy tyusiees, and with clear guidelines on seciors 10 be preferred or avoided because of ethical consideraiions. The major risks lo which ihe ChariO> is ￿POsed￿lId reviews aiidsyslems lo miligale ihenL The Union recognise5 that the main risk to which it l5 exposed is the risk to which t]iember churches are exposed.. that 15, the Ios5 of committed individua15 available to work on the projects, and tlie challeiiges of identify'ing and bringing forward inspired p¢opl¢ for th¢ fvture work. uture Facturs likely Iv uffect f financialperformance. Due to ihe chariiy being heayils, reliant on invesimeni income. the major factor likely to affect future rinancial perfomiance is the volaiilitw ofihe siock mark"d. The Baptist Union of Wales Trustees, Annual Report for the period from 17 November 2022 to 31 December 2023 Principalfunding sources in iheperiodand how ihese suppori ihe key objeclives of ihe charlty. The Union's main funding during the year has been from investsnent income and from member church contributions. The expenditure on Union stsff. tommiiiee Irdvelling expenses. conferences and reireats has been paid lor from this income.. as have grants to churches. churLh projecis and individuals, as well a5 Ihe sundry costs of inier-¥roup liaison and co-operalion. Further to the review of the Unioii's finances, small iniprovem¢nts hav¢ b¢¢n mad¢ bui fvrth¢r work nc¢ds to b¢ und¢rtak¢n in this 8r¢a and will fonn part of the 2041 report. Plans Fur ihe Fuliire Symm4ry of pl*ni for ih¢ fy¢ur¢ gnd th¢ ¢rysi¢¢s' yrsJb¢¢ilv¢ of iht fy¢ur¢ dir¢¢iioh of lht ¢h•rity. The Union plans ¢0 insliga¢e and promote the propagalion of ihe Christian Gospel througl) IMii)istry ai)d mission, and to implement existing s¢rdtegies a5 M'ell as seiting in place new developments for Ihe future. Specific plans for the fuiure include: - Continued work on ihc 2041 Rcpon and engagemeni wilh the Associaiions io set up Regional CIO'S to faciliiate ministry, and mission. Continue to raisc aw'areness of the importance ofsafeguarding and ensure thai Ministers and Churches work in accordance with our safesjuarding wlicies. Dcvelop Work with young people . F inalise an exaniple eonsiitution for Churches wishing io be¢ome CIO'S. Plarh Annu)l Meelings. Details of The Auditor Kara Williarns Bsc BFP FCA Ellis Lloyd JonLS Audit Limiicd Chartered Atcounknnts and Skniulory Audiiors I I Park Squar¢ N¢wport NP20 41-.1. The Baptist Union of Wales Trustees, Annual Report for the period from 17 November 2022 to 31 December 2023 Statement of Trustees, Respollsibililies The chariry's in￿lee5 are responsible for ihe preparaiioii of ihe accounts in accordance with the tern)s of the Lhariiies Act ?0 I l and the Chariiies (Accounis and Repons) Regulations ?008. NO[￿.11hstsnding the explicit requirement in the exiani siatuiory regulaiions.lhe Chariiies {Accounts and Reports) Regulaiions ?008, 10 prepare the financial staiemenis in accordance Miih the SORP ?(M)5. in view of the faci ihat the SORP 2005 has been withdrawn, the Trustees deterniined io in￿rpret Ihis iesponsibilitv as requiring them io follow current best practice and prepare the accounts according io the FRS 102 SORP (sta￿men1 of Recommended PrilCtILe for Accounting and Reporting bv Charities) 2015. (as atnended bv ihe Bulleiin issued in October 2018 and applicabl¢ to all accounting p¢riods b¢ginning on or aft¢r ISL January. 2019). {Th¢ SORPI. - In particular. charit>, law requires the Trusiees. if they prepare accounis on an accruals basis. to prepare rinancial statements for each financial year which give a irue and fair view ofthe siaie of alyairs of ihe ¢harity as at th¢ ¢nd of th¢ finan¢ial v¢ar and of the surplus or defi¢ii of the ¢harily. In pr¢parin¥ thos¢ financial 51atement5 th¢ Truslees are required io :_ io prepare the accounts in accordance w'ith Uniied Kingdom Generally AcCep￿d Accounting Practice (United Kingdom Accounting Stsndards and applicable lawl. select suitable accouniing policies and apply (hem consisienily: make judgyemcnls and e51ima¢¢s that are r¢a50nable and prudent: preparc the financial siaienienis on the going concern basis unless li is inappropriate ¢0 presiime that the ¢harily w'ill continue in business: state wheiher applicable accouniing siandards and sthiements of recommended pra¢iice have been followed. %tsbje¢t io any material departures disclosed and explained in the financial s￿lements: The law requires that the tru51ee5 musl not approve ihe ¥4c¢ounts unless they are satisfied that they give a tnje and fair view of the 51ate of affairs of the charity and of the surplus or deficit of the charity for the year. The TruS￿e$ are also responsible for maintaining adequate accounting records ￿h1¢h disclose with reasonable a¢¢ura¢y at any time the financial position ofthe charity and m.hich are sufficient to show and explain the charity'5 tran5aclion5 artd enable them to en5uie that the financial stateinent5 comply with regulations made under the Charitie5 Act 2011. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the preventioii and detection of fraud and other irregularities. The Trustees are also responsible for (he Contents of the Trustees. report. and the statutory responsibility of the auditor in relation to the TtU5tee5' report 15 limited to examining the report and ensurin¥ that , the report is cotISj5tent with the fL8ure5 disclosed in the financial statements. This report was approved by ihe board of trustees on J A Morri5 jFeb 19, 2025 12..19 GMT) Glyndvor £amiiel Prideaux (Feb 19. 2025 13'.04 GMT) REVD JUDITH MORRIS, BA. MPHIL, MTH MR. GLYNDWR S. PRIDEAUX Trusi¢¢ Trustee 1910212025 The Baptist Union of Wales Independent Auditors, Report to the Tru5tee5 of tbe charity OD tbe accouDts for the period from 17 November 2022 to 31 DeceJNber 2023 Opinion W¢ hav¢ audii¢d th¢ financial stat¢m¢nts of Th¢ Baptist Union of ￿'al¢S (th¢'¢harity') for th¢ p¢riod from 17 November 2022 to 3 1 December 2023 which comprise the sthiemeni of financial acriviries, staiement of finaiicial position. the staiemeni of cash floM's wid the relaied noies. including a summary. of sigiiificani accounting policies. The financial reporting fraMe￿OrK ihat has been applied in their preparaiion is applicable law and Ilniied Kingdom Accouniing Siandards. including FRS 102 The Financial Reporting Sthndard applicable in the UK and Republic of Ireland {Uniied Kingdom Generally Accepied Accouniing Praciice). In our opinion the financial statements.. ive a true and fair view of th¢ stat¢ of th¢ charitabl¢ compan￿5 aifair5 8S pt 31 Dec¢n)b¢r 2023 and of its incoming r¢sourc¢s and applicaiion of resouwes, including its incon1¢ and expenditure, for the period ihen ended,. haye been pr()perly prepared in accordance with Uniied Kingdom Generally Accepted Accounrii)g Pracrice; have been prepared in accordance wilh ihe requirements of the Chariiies Act 2011 BASIS for our opinion We conducied our audii in accordance wilh Iniemaiional Stsndards on Auditing (UK) (ISAS (UK)) and applicable law. Our responsibiliiies undcr Ihose siandards are further described in the audiiorfs respoi)sibiliiies for tl)c audit of the financial siaienients seciion of our report. We are independeni ofihe chariiy in accordance with the etl)ical requirements thai are relevani to our audit of the financial statements in the UK. includii)g ihe FRC'S Ethical Standard, and we havc fuifillcd our oiher ethical responsibilities in atcordante M'ith thesc requiren)ent5. We believe that the audit evidence we have obiained 15 SUtTL¢l¢nt and appropriate lo provide a basis for our opinioii. Emphasis of MAtter- finaneial statements prepared on * basis other than going concern We draw attention io the 'Note l - Going Concern. paragraph in the notes to the financial statemenis. which explain5 that the Iru5tees intend to liquidate the charit). and. Iherefore. do not Consider it to be appropriate to adopt the bToinbJ concern basis of accounting in preparing the financial Statements. Accordingly, the flnancial stateiiiei)ts have been prepared on a ba5LS Other than going concern. as described in Note l. Our opinioi) IS Tiot modified i respect of thi5 matter. The Baptist Union of Wales Independent Auditors, Report to the Tru5tee5 of tbe charity OD tbe accouDts for the period from 17 November 2022 to 31 DeceJNber 2023 Other Informatio The oiher infom)ation comprises the inf0m￿tion included in the annual rewrn other than the financial gtsiemenrs and our auditor's report thereon. The injstees ale responsible foi the oiher infomiation. Our opinion on the financial statements does not cover the other infomation and. excepi to ihe exienl Otherwise explicitly staled in our report. we do not express form of as5uraTrce conclusion thereon. In conn¢¢tion with our audit of th¢ financial stat¢m¢nts. our rcsponsibility. is to r¢ad th¢ otl)¢r inforination and. in doingy so, consider wheiher the other inforniaiion is maieriall), in¢onsisient with the fJnwici81 sthten)ents or our knowledge obiaincd ID thc audit or otherwise appears io be marcrially missiared. If we ideDtify' such Jnatcrial inconsisiencies or appareni material missla￿ments. ￿'e are required io deiem)ine u,hetl)er ihere is a material missiatertieni in Ihe financial siatements or a maierial misstaiemeni of ihe oiher informaiion. If, based on Ihe work we have performed. we conclude ihai ihere is a maierial misstsiement of (his other infomiaiion, we are required io report (hai faei. We have nothing io repctrt in ihis re￿rd. Matt¢rs on which we are required io report bv exception In th¢. li¥Tht ol-th¢. knowlcd&p¢ and urid¢'rsiyiidiii¥i of th¢ chari1> and its environment obthined in the course of the audit, we have not identified material misstatemenls in the tru51ees' report. We have nothing io report in respeci of the follow'ing mailers in relaiion io which ihe Chariiies Act 2011 requires us to report to you if, in our opinion.. the infomiaiion given in the trustees. re￿rt is inconsis(eni in any material respect with the financial stateinents: or adequate a¢¢ounting rt¢ords have not b¢en kept- or the financial Statements are noi in agreement with the accounting records and returns,. or we have not received all the inforniaiion and explanaiions we require for our audii. Re$pon5ibiliti¢5 of Iru51ees As explained more fully in the tTusiees' responsibilities sthiemenL the wusiees are respoiisible for the preparation of the financial staiements and for being saiisfied ihai Ihei. give a irne and fair view. and for such iniernal control as the Irusiees detemiine is necessary lo enable Ihe preparaiion orrinancial slaiements thai are free from n)aterial misstatemeni. whether due io fraud or error. In preparins the financial 5tatemcnt& the trn5tee5 are re5pon5iblc for a55es5ing the charity's ability to continue as a going concern. di5c105in& a5 applicable. matters related to going concern and using the going concern basis of accoiinting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic altcrnative but to d0 50. The Baptist Union of Wales Independent Auditors, Report to the Tru5tee5 of tbe charity OD tbe accouDts for the period from 17 November 2022 to 31 DeceJNber 2023 Auditor's responsibilities for the audit of th¢ finanrial ststemeDtS W¢ hav¢ be¢n appointed os auditor undcr s¢¢iion 141 of th¢ Chariii¢s Aa 2011 and report in a¢cordan¢e with the Act and relcvani regulations niadc or having effc¢t iher¢undcr. A fvnhcr dcscripiion of our responsihilitics is available on the Financial Rep)ning Council's websiie at.. https'.11 frc.org. ukjaudiiorsresponsibiliiies. This descripiion forms pan of our audiwr's report. Our objeciives are to obiain reasonable assurdnce aboui ￿"hether ihe financial Sth￿ments as a whole are free from material missiatemeni. whether due io fraud or error. and io issue an audiior s report that includes our opinion. Reasonable assurance is a high level of assurance. but is not a guardiiiee thai ali audii eonducied in acLordance w'ith ISA5 (UK) will always detecl a Inaterial mis51aletneni when il exists. Mi551atenienls can arise fron) fraud or error and are considered material if. individuallv or in ihe aw¢gaie. th¢y Could r¢8sonably b¢ ¢xp¢¢L¢d to influ¢nc¢ th¢ economic decisions of users taken on the basis of these financial s￿leMents. Irregiulariiies, includiiig fraud. are insiances of noii-con)plian¢e M'ith la￿.5 and regulaiions. We dcsigii) procedures in linc with our rcsponsibiliiics, ouilincd aiM>ve. io deieci maicrial missiatements in respect of irrcgjulariiics. including fraud. The extent io ￿hleh our procedures are capable of deteciing irregularities. includiii¥> fraud is deiailed below.. We gained an understanding of the legal and regulaiorv framework applicable io the chariry its activities. lis conirol envirollmeni. and likel¥ fiilure developments. and considered the risk ofacis bj. the charity ihai were eonirary, io applicable laws and re&TuI)lions, in¢ludin& frnud. We designed oudit pro¢edures to respond to th¢ risk. r¢¢ogynising ¢ha¢ thL risk ofno¢ del¢¢¢ingy a ma¢erial mis51al¢Jnenl du¢ lo frdud is higher than the risk of noi del¢¢¢iiibJ oiie resultin& from error, as frnud ma). involve d¢lib¢raie conc¢alineiii by, for exainple. forgery aiid inlenlional misrepre5eniations, or through collusion. We focussed on the laws and regulaiions which could result in a material misstatemeni in ihe financial stateinents, includinbv but not limited 10. the Chariiies Act 2011. As in all of our audits. we evaluated n)anauJemeni's incentives and opportLinities for fraudulcn( manipulation of the financial ststements {in¢luding ihe risk of override of ¢oi)trols) and detcm)ined that the principal risks there misappropriation of asscts and ￿ndS not being expcndcd in lii)c with thc charity's objects. Audit procedurcs perforn)ed included.. Di%cu%5ions with manaocment. including ¢on5iderJtion of known or suspected instances of n(Trn-complianc¢ with law5 and regulations and fraud. Selecting a sample of transactions and Wdcing to docUMen￿tIon 10 esthblish that they are bonafide transactions,. Evaluaiing the rationale ofsignificant transaciions outside ihe nomial course ofbusiness and reviewing accounting estimates for indicators of potential bias: Designing audit proceduics to incorporate unpredictability around the nature, timing or extend of our testing; and Agreeing th¢ financial statement di￿[95￿r￿ to underlying supporting ￿￿uMentation. There are inhereni limitaiions in ihe audii procedures de%ribed above and. Ihe fvnher removed non-compliance with la￿S and regulations is from ihe evenis and transaciions reflecied wiihin ihe financial sthiements, the less likely we would become aware of it. We did not identifv an) ke). audii mai￿r5 relating (o irregularities. including fraud. The Baptist Union of Wales Independent Auditors, Report to the Tru5tee5 of tbe charity OD tbe accouDts for the period from 17 November 2022 to 31 DeceJNber 2023 As part of an audit in accordance M'iih ISAS (UK). M'e exercise professional judgmeni and maintain professional scepiicism ihroughoui Ihe audii. We also= Ideniif}' and assess ihe risks of maierial missiaiement of the financial staiements. whether due io fraud or error. design and perfortn audit procedures responsive io those iisk& and obvdin audii evidence ihai is suffieiei)t and appropriate lo provide a basis for our opinion. The risk of not delecling a maierial mis51atemenl re5ultin¥ from fraud is higher than for one resulting from error. as fraud may involve collusion. forgery, intentional oniis5ions. misr¢pres¢niation5, or the override of internal control. Obtain an understanding of internal conrrol relevani io the audit in order ro design audir proccdures that are appropriate in ihe circumsiances. bui noi for ihe purpose of expressing an opinion on the effectiveness of the iniernal conirol. Evaluate ihe appropriateness of accouniing policies used and ihe reasonableness of accouniing estimatrs and related disclosures made b>. Ihe trustees. Con¢lud¢ on ¢h¢ appropriat¢n¢s5 of ihe Irust¢¢S' Use of ihe going ¢on¢ern basis of ac¢oui)ling and, based gli the audit cvidence obiain¢d. whether a malerial uncenainty exisis related io events or condiiioiis ihai ma}. cas¢ significaiil doubt on the chariiy's abilii). lo coniinue as a going concern. If we coiiclude (hai a Inaierial uiicertainty exists, we are required to draw aiieniion in our audiior's report io Ihe relaied disclosures in ihe financial statements or, if SLich disclosures are inadcquaie. io modifv our opinion. Our conclusioiis are based on the audit evidence obiained up to the date of our auditor's report. HoM"ever. future events or condiiions may cause (he charity to cease to continue as a going concem. Evaltsate the overall presentation. siruciure and content of the financial statements. includi118 the diselosures, ai)d whether the financial statem¢nts r¢pres¢nt the underlying iransa¢lions and ¢v¢iit5 in o IM#iin¢r that a¢hi¢ves fair presentation. We communicate with those charged wilh 8overnan¢e regardin& among Other matters. the planned scope and timing of the aiidit and 518nificant audit findings. includin8 any si8nifLcaiLt deficiencies in iiiteriial control that we ideiitify during our audit. U$e of our report This report is madc solely to the charitys I￿￿tee5, &5 a tMKly. in accordance with section 144 of the Charities Act 201 l and regulations madc uiidcr section 154 of that Act. Our audit work has been undcrtakcn so that wc might state to the ¢haritv's trustees ihose matters we are required to state to them in ali auditor's report and for iio oiheT purpose. To the fullesi extent perniiited b). law, we do noi accepi or assume responsibility to anyone oiher than the charity and the charity's trnstees as a body, for our audii work. for this reporL or for the opinions we have fomied. ms Kara Williams (Feb 19, 2025 15..17 GMT) Kara Williams BSC FCA (Senior Slaiuiory Auditor) For and on behalf of Ellis Lloyd Jone5 Audit Limited Chartered accountants & statutory auditor I I Park Square ￿t￿)ort South Wales NP20 4EL 1910212025 The Baptist Union of Wale$- St#temen¢ of Fiu*n¢ial Activiti0% for the period from 17 Lyovember 2022 to 31 December 2023 Stalemenl of F4nnAeinlAelivilie.¥for iheperiodfrom J71Vovember 2022 10 311)eeemher 2023 C'urrent i'e*r C'urreni i-e*r ('urreThi }tgr l Thrtstri¢t¢d unds Rtstri¢t¢ Trund5 zo 2QLI 20LI Ineome & Endowments from: Di)nuiiun% & LL¥a¢i¢s C'hdritabli aciiviiies In&LstmLnis Oih¥r 1.915.150 9.016 31.137 2.779 .821.471 3,736ffj21 9,016 59.421 2,779 28.284 Total income .9fj8.082 IN9.74q 3.807.837 Expenditure on: 150.603 3&757 187J60 Total expenditurt 187J60 N¥¢ goin% on ini'¢¥im¥nib 63,292 47.373 Net income for the year .87lJ.771 J.731.142 Tr*nsf¢rs b¢tw¢¢n fund$ 1.1)49 l.(M91 Ntt Intomt *fttr tr*nsfer$ .871,8211 10S9J22 3,731,142 Net movement in funds .871.820 1&49J22 3.731,142 Rttontlli#tlon of ftsnd5'.- Total fundy cirried fonvard ,871,820 I JS9J22 3,731,142 All activities derive from continuing operaiions The notes attached on pages 20 to 39 form an integral part of these accounts. The Baptist Union of Wales- Balance Sheet as at Ji t>ecember 2023 Notes 2023 Fixed assets Tangibl¢ a55els Inkeslm¢nts held as tixed as5¢ts io I.IK15 3.51>6.403 Total fixed 8ss¢ts 3,507.408 Current Assets %tocks 1.703 1k.btor 13 28.120 Ca%h 191 hank and in hand 232.479 Total current assets 262.302 C'reditors.. amounts falling due within one year 14 138.5681 Net turrent Assets 223.734 The totAI net Issets ofthe ch*rlty 3.731.142 Th¢ to¢AI n¢14w¢$ ofihe eh*riiy *r¢ f¥nd¢d by ¢h¢ fund$ of ih¢ ¢h•rlty. 4$ follow$:. Restricted funds RL%lriLILd RLvLnui l.unds 18 1.859.322 1.859.329 Unrtstrlcted Funds Ilnr¥51riLiid R¥v¢nu¢ Fund5 18 1.871.820 .871.¥20 DeJignAted Funds Total charity funds 3.731.142 The Trustees aLknow.ledge their respothsibiliiies for compli.ing m.ith the Te4uiremeni& of Ihdrili IL¥i%laiiun ￿'l¢h respeLI Iu dLLouniing reLords dnd ihe prepardlioth ofaLLNTruni5. I'h< Lharili. 1% %ubjecl to audit urtder chariti lesislalion. athd the report ofthe Charilie5 Act aiiditor is lin pa8e% 12 to 15. REVD JUDITH ￿[ORRI& BA, ￿[PHIL ￿[TH ItL GLI'NDWR S. PRIDEAU Tru%le Approi'¢d by th¢ board of tTU5t¢¢s on 1910212025 Tru5tte The notes attached p*ges 20 to 39 form an integral part of these *ttounts. The Baptist Union of Wales Cash Flow Statement for the period from 17 Noi'ember 2022 to 31 December 2023 2023 Cash flows from operating aeiivities N¢t cash provid¢d bv operaiing acliviiies as shoMTr b¢loM' 174.861 Ca.IliJ7uw.ifrom Invesilnx ocrfvlrfes 5.454 53.%7 ()Ihir invLsimLni income. includin8 rents from invesimenis Purchase of propen>'. plani and equIpn￿nI 11.8V31 Net cash provlded by Investing activilies Overall cash provided by all activi¢ies 232.479 Cosh movem¢nl$ C'hun¥L In Lash and i&%h i4uiI'alLnis from acliviiies in Ihi pLri endLd 31 IkxLYnhLr 2023 232.479 Cash and cash ¢quii8l¢n15 al 17 Nov¢mkn 202? C85h at bank and in hand less ov¢rdr4fts 8131 D¢cemb¢r 232.479 The Baptist Union of Wales Cash Flow Statement for the period from 17 Noi'ember 2022 to 31 December 2023 ReconciliatlOD of Det income to Det cash flow from operatlDg activities Net incom¢ as showm in the Siaitmtni of financial Acii¥iiies 3,731.142 AdjusimeNlslor:_ l)LpfL'Lltilion LhargL Net iinrtalised gains on invesimtni assets l)iiid¥nJ& inl¥r¢s¢ itnd r¢nts fTorD iDv¢*m¢n InLreLise in stOLk Incr¢as¢ in d¢bioTS in ¢ridilOts, ¥xiluJin8 loath$ Nc)n-Lubh dL)naiians rL*LiiLd 798 1110.6651 159.4?11 38.568 13.395.738) Net eash provided by optrating aetivities 174J61 Analvsis of cash and cash equivalents 2023 C'ush in hond al fuT Ihl tKriod frvm 31 r)¥YL'mlKT 2023 232.479 Total cash and cash equii'alents 232.479 Analysis of change in net debt oljear Flows Cash 232.479 Total 232.479 Th¢ Baptist Union of Wales Notes to the Accounts for the period from 17 Noi'ember 2022 to 31 December 2023 l Accounting policies Policie.$ relt7ting lo iheproduction of ihe occounl Ba51$ of preparation and accounting ¢onvention ThL dCCOUrtls Ilirtartcial ￿taIL,m￿niSI havL k'Lm pfL'ptsrnd on IhL ￿thUal￿ b￿-is. urtder IhL hisiorieal eosi conkLniion and in aLctsrd￿LL Wlth IhL' StalLmLrtI ofRLcommL'ndLbd Prd£iiLL'". Accourtling athd RLPOnlrtg bj Chatilies PTLP£lTing iheir aecourt1￿ in aCLordJrtLL with IhL' Finttncal RLpoMing Standard applicahlL lrt IhL UK and RLpubliL ofirLland IFRS 102115SUL'd in OLiobLr 2019 IhL' FirtanLttl RLPOrtirt¥ Sland￿d appliLknblL Lth IhL UnilLd kingdom and RLbublic of IrL'lJnd IFRS 10?) ihL Chdrili¥s Act ?01 I dthd Ih¥ UK Gi￿Lr￿1). ALL¥pl4bd Pta¢iiw il appliLS from l Janu£b> 2019. Thi aicourtls Ilirtartiial ￿101¥MinIs) hav¥ pr¥P)r¥il 10 gi&¥ ty'tr￿. and fairf ii¢w and ha￿( d¢part¢d from Ih Chariliis IA¢¢ounis R¢purts1 R¥¥ulaliuns ?￿18 lu thi riquir¥d lu pro￿1￿¢ J'lru¥ anJ fair ii¥w'. This ¥pJrturi inlulvid lulluiYin¥ ALLI)unlin¥ Rip)rting bi Charili¥s". SiJl¥m¢'nt ufR¥¢umtnind¥d PriiLIi¢¥ Ippliidbli lu Lhdrill¥￿ pr¥pdrin¥ Ihiir iKLounls in wilh Ih¥ l.ithathLiJI RLtx)rting Siandard JppliL4bl¥ in ihe IIK dnJ RipubliL ul. Ir¥lanJ Il.'RS 1021issu¥d in (k.lok'r ?019 rdthiy IhJn lh¥ A¢LountiD¥ R¢pDrting b) C-hurilii%.'%lJl¥tnint IifRiii)tnmind¥d PrdLliLi i(f¥¢liii l April 2005 ￿h1¢h M'iih(Irawn, I'hi finunLiul stulLm¥nls ur¢ pr¥%'nl¢d in p)und $l¢rlin& M'hich 1$ th¢ futhrlional LUTf¢thLTh' and rvurtdL￿ io IhL 'I'hi Lhuril). li a publiL bLn¥f)t inlily. Going Concern 'I'h¥r¢ ar¢ no ma¢¢rial unr¢rtainii¢s aboui ih¢ ¢haril%'S abilii) 10 ¢Qnlirtu¢. Rlsks And futurt Assumptions 'I'hL alll)Iillii hJvi ￿.￿n p￿pa￿d on a Boing concern b&sis and the Trusiees LM)nfLrm thai ihere arL no ke). aiiLimpiii)n% Li>nLiming ihL fiiiurL. dnd IiihLr kL*- soufLL% I)fL￿11m￿lI1)n uniindLtiii di Ihl rLTM)rtin¥ daiL IhJi hai'e a .%ignifiLtini risk i)I'Ldubing a mthikridl adjusimLni io IhL ￿"Ill8 of assLts lidbilitlL5 ￿lthirt IhL liiXI Pollele.% relthllng iv cdiegorles ollncome andlncome recogn1￿0 Categories of Intomt Ineomi is catLBoriscd as incomL from LxchanBL (fdnsaciions IcoThirdCI i[￿)Me) and income from non-exchange Iransaciions (gifts). in%'LsimLni incomL and oihLr income. Income from exchange trans*ction5 is receii'ed b! (he charip. for goods or ser%'ices supplied under conirdci or hLrL itiiiilLinLtii is bubjlil 10 fiiifilliiig perforniance relaied condiiions. The income ihe charin. receii'es is approxitn2i Ill￿ equal in vali1¢ 10 the goodb or s¢rvi¢¢s supplied M. the Chari￿ io the Purchaser. Income from a non-exchange transattion 15 ￿'here ihe chariTh' receii.es ¥alue from the donor u"iihoui proNiding Lqual valLIL in LxchangL. and includls donaiions of monei.. gwds and smiees freel!. giNen wiihoui giving tqual value in exchange. Th¢ Baptist Union of Wales Notes to the Accounts for the period from 17 Noi'ember 2022 to 31 December 2023 Income recognition Incom¢. i¥h¢ih¢r Irom ¢xchangt or non ¢¥chaDge iransaciion& is r¢cognis¢d in th¢ S￿*[￿¢￿1 of financial activitl¢S I%IIFAI on a r¢c¢i%abl¢ basi.k ￿'h¢n a tTansaclion or oih¢r ei.eni resulL% in an incr¢as¢ in ¢he chariti. or a r¢duction in ils liabiliii¢s and onlv wh¢n lh¢ chaTiTh' has legal cni1ilen￿nL th¢ ij)com¢ is probabl¢ and can i m¢asur¢d r¢liabl>'. l)ii'id¢nds art accru¢d w'hen the shar¢hold¢r'5 right ￿ TCC¢ii'¢ paiTh¢ni is esthblished. Incoml %ut)jLct io i¢mi% and Londiiions M'hich musl b¢ ffl¢i b¢foT¢ ihe chaTiTh' is eniiiled ￿ ihe resources is not rLcognisL(l uniil th¢ ciinditii)n% hav¢ b¢tn rnei. All inLom¢ is accounl¢d for gross. before d¢ducling an). rela*d fees or costs. In¢om¢ from le%ories InLCIIIIL lin)In ILBaLliS is recoBnised when the charii!. has sufficieni ei'iden¢e Ihai a 8ift has becn left 10 Ihein. Ihai hLrL' fL'4LiifLd. pri)baiL has bL'in 8raniid. thi L¥L*Lllor is saiisliLd Ihai IhL pfopirt). 111 qUL51ion Mill nai iK' fLquifLd 10 -￿11%1% Lldim% in IhL LsiaiL. thai li is pri)babIL￿ ihai the amouni will bL' fiLL'IfvLd M IhL charii!. and IhL arni)uni Ici hL rL*L'1￿￿'d Ldn ￿, LsiimaiLd wilh %ulliciLni aLLIJraL￿-. and Ihai an! condiiions aiiachLd 10 IhL IL'gaL>' arL L'iihLr M'iiliin lh¢ Ll)niri)l i)I'ihL Lharit> or havL m¢1. WhLfL d pa)'mLni is r￿￿Li￿Ld friim an LsiaiL C)r is noliriL￿d LS fL*YiiablL bi. IhL allLr IhL fL'rx)rtin8 daiL and hL'li)rL' IhL' aLLI)uni% JrL' auihc)riK'd f4ir ISSUL bui 11 1% Llear ihdl IhL pa!ThLni had ￿'Ln a8fLK.d h% ihL' L'XL¢lJlI)r% prii)r li¥ IhL' L'nd i)I'ihL' fL'PC)rtin8 ￿ri1)d. IhLn IhL' amount cortLLmL¥d 1% Irethd as an adju%lin8 ¢VLni and ti¢LmL'd a% iliLI)InL 111 IhL' aii()uniing p¢riixl ifr¥'¢LlPI is prtsbobll. WhLri IIIL Lhorilv Ila) LsiahlishLyJ iniiilLmLni iu a IigaLi' bui ihLrn is unLLrtainii &$ 10 iliL ￿n{l￿nI (Ifilil pa)'lllLnt. 1)I'ihi ILgJi> urLdisLII)SLd a 14TrniingLni until Ihl LriiLria fur inLIMnL rLxugniiii)n drL InLI. WlILrL a IL¥Ji% is subjiLI li) IhL iniiN*l i>fa lifi li￿an1. IhL ILgaLTh' is noi TLxognisLYJ as iniumL uniil Ihl dLdih i)fihL lifL ILndni. 11-11 1% diiiihtful that full i¥iltl¥m¥ni ora l¥ga¢!- d¢bior M-ill ix. r¢¢¢ii¥d. Ih¢n an adjusim¥ni is Inad¢ io r¢du¢¥ ih¥ amiiurtl nl'th¥ l¢garv d¥btor Jnd l¢w%' in¢0￿ t3th¥r than rhar&Lth8 ihc 3djusimithi as ¥xp¢ndilur¥ in lh¢ SlJl¢in¢nt of Th¢ Baptist Union of Wales Notes to the Accounts for the period from 17 Noi'ember 2022 to 31 December 2023 Donated goods, facilitie5 and seryi¢es Donated fixed assets T¢cognis¢d ai the curr¢ni fair i'alu¢_ All such d¢)￿￿10￿ ar¢ r¢cognisd as donation incotn¢. and d¥bit¢J til li¥iJ Donated goods that are not fixed a55ets art accounied for ￿ a fair value, Unle￿ li is impraciical to reliabli, Imeasure In ihL absenc¢ ot'anN dire￿ tiidence offair ￿allIe ofdonaied goods. Ihen a %'alue is derived from Ihe cosi ol'ihe item io IhL' donor or. in Ihl case ol'goods Ihai are e¥p¢ci¢d 10 b¢ sold. Iht esiimaied resale i'alue after deducting any anticipated costs ol'sales. Il'll is impraLiicablt 10 measure the fair i'alue ofgoods donated for resale. or ihe Co￿5 of %aluaiion ouiweigh Ilie bLnLlii%. Ihe donaied goods are recognised as income w'hen sold. with an equI￿alent amouni being recognised as an I'hL Cl?sl% Dt'gaod% donaiLd for disiribuiÈon 10 bencficiarics is dccmcd ID ￿ ihe fair i'aluc of Iho%c gixNls upon rLKLlPI. WhLii IhL' gi)i)d% ari disiribuiid frL'Lli' or lor a nominal considLrdlion. IhLn IhL cain'in8 ainiiuni 1% adju%ted 81 IhL' lime ol'%ale. 10 thL' valLIL ai ihe rx)ini 0rdi￿ribU110n and ihe adjusimeni is shown as a cosi of donaiions Inade. 'I'hL carTh'ing amount of an!. siock hLld for disiribiiiion is ass¢kK￿ for imtwi￿cnt ai ihe TerxTrning daiL. All dDnatcd i)i)d% dri fiLI)gniKxJ 4L% dcinaiii)n inLomL'. and dLb1IL￿ io Irading sliKk.Il'hin Iradin8 s1()Lk is sub4LqULnili' %i)Id. i)r ppri)priaiid i() MLL'I an L'XPLnNL. thin IhL caroinbtr b-dluL' l)fihL stock L% ficf)8nisLd d5 ￿ l￿pLn%L'. In dLLiirdaniL wilh gi?Iid% dc)nJiLd lor di.%iribuiion 10 ￿.nLrIllarIL￿ or for consumpiion b)- IhL Lharii). arL in¢ludLd in 'lv&puciLwS und diJn(Ilif?n.%' (i(M)ds d4TrndlLxl liir r(..￿lL afL includLd in 'lrtcthn*from ￿her irGdinK oclitriiies, 'I'hi Li￿1 ofan}' stock i)fgo(Idi dlribui¢d fw¢li vr for a numinal c(Inyid¢rdtiiin. Iliin Thi iaTn'lnB Tniiunl 1% %ub¥Lquinil!' adju.%l¥d 10 r¥flcLI ihl low¥r Ord￿￿Kd rosi adju%lid for an!. li)%% i)f %¢ri'iL¢ P(ii¢iilial and r¥plaL¥ininl Ill*t. R¥pll4 ¥¥mini Lost is Ihi ¥xxknumic cos1 inLurr¥d ifihc charil!. M-as to r¥plaL¥ lh¥ s¥r%i¢¥ pi)l¥iilial or Ihi dunatid goods al lis own ¢xpLns¢ in th¢ ffl051 ¢((￿orni¢ manner. DonMted ser%'i¢es ind fxtilities Iinlluding sttyTrndl￿ sthlT8nd ofpn>pLrt! l arL includld in ihe aicounls un thl bJs1% ul. IhL ul. Ihk ¥ill 10 thL Lharii)-. All di)ndlLd SifwiLLs dnd fdLiliiiLs drl ￿LOgnisLd iivnaiion iniomL iihLn rL*xiiLyLlprovidLyl ihL laluc ofihL gift Ldn bL mL￿url￿ rLlidblyl rLLognl5L￿ &% an LXPLnk w.ith at) e4ui%"alLni k&luL. lembersbip $ub5¢riptlOllS The income and an￿. associated Gift Aid or oiher i&¥ refynd from a membership suknipiion Tec¢i%'ed b), the chaTirn' in the nature of a gift. is accouThi¢d for on th¢ same basis a donation. "I'h¢ in¢otn¢ ITOtn a rn¢rnkrship subscription r¢c¢ii"¢d M. th¢ charits" wh¢r¢ the 5ub%TlPtion purchas¢s ¢h¢ Tight to S¢TV1£¢5 OT b¢n¢fiis is r¢rognis¢d as incom¢ from rharitsbl¢ arli%"iIi￿. Invtttment income Investment Incotn¢ 15 r¢cognised on a Kcel￿able basis and is *ai¢d net of inN¢sunent managetnent fee5. Th¢ Baptist Union of Wales Notes to the Accounts for the period from 17 Noi'ember 2022 to 31 December 2023 Pulleles reluilng its ￿pendItUTe uts goods &ndsen,Ic¢spruvidedio ihe ehdrlty. Rttognition of li¥bilities and txpenditur¢ A liabilitv. and Ihe related ¢xptndilur¢. Is recognIs￿ when a legal or COnSlTuai&e obligation eNists as a result ora past ¢v¢NI. and ii'htn it is mort lik¢li Ihan noi Ihai a iransfer of economic knefis u'ill be r¢quiTe41 in Settlement. and .h¢n th¢ amouni ol'ih¢ obligaiion can k measured or r¢liabli' eMima*d.. LiabililiL'S arising from futUT¥ funding ¢ommiim¥mts tynd ¢OnStru¢ii%¢ obligaiiorts. ith¢luding PLifotmanLt relai¥xI grants. %YhLTL IhL lirning or ihl thouthl of th¥ fulurL LXPLthdilurL' fL4uir¥d 10 ¥hiil¥ th¥ obligttiion ar¥ urtLLrttsin. gI￿L ris¢ Its J pro51￿1￿n in th¥ aixount& whiLh t¢vi¥w¥d ai th¥ a¢¢outiling i¢aT ¢nd. Th¥ PTOI'lSlOrt is in¢T¥as¥'d tv rL'tiLLI y irt¢r¢'as¥5 in li&bilili¢& 15 d¢¢[la￿¥d b! lh¥ uliliyiion of pruliisioth wiihin th¥ ￿[1￿. r¥Tr¥rsL'd if)nv PTo￿lS1O￿ is no lun¥ir r¥quirixI. I'h¥%4' muv¥tiK'nts #r¥ ¢lwg4xI or ¢r¢dii¥il 10 th¢ r4W¥¢liv¢ funds artd a¥livili¢s to hiih Ihi prolisiun rLlaiiS. Allocating cNts to Activities l)irL'LI COSts Ihai arL' specificall%. related 10 an acti￿111. are allocated 10 ￿11.11!.. Shared direct cosi5 and support cost% arL' apponionLd ￿K￿lW¢¢Th a¢iiviii¢s. 'I'hL' b&gi% li)r apw>rtionm¢ni. whi¢h is ¢OnsI￿¢￿ill. applied. and prop)rtion81¢ io ih¢ ¢ir¢umst8ll¢¢S. is:. StAfflni- lin thL' ha%1% ¥>f tim¢ %p¢ni in ¢imn¢ciion M'iih 8t)1. pani¢ular a¢it%-ii!'. .%tAffini- Iin ￿ PLf LJpiia basi%. b￿￿.￿ on Ilii numlK'r i>f i)f rxM)pIL Linpl{￿L￿ wiihin arb). paniular aciivii).. Premise5 relited ¢0st$- on lh¢ pwportion of novr ar¢a IKcupiLxi M. a partirularadivil!.. Ion 5pecifir support cos¢s- on lh& i>asi$ ofih¥ usag¢ in *rm5 ofiim¥ lak¢th. cap￿11). utscd. made or other mLasures F.41im*tioth ttthniqutl US¥d in apportioning ¢0sts- give details Voluntttrs In arrordanr¢ with lh¢ SURP, and in r¢ro8nilion of th¢ diificulii¢5 in plaring a mon¢tsry" ialu¢ on ih¢ Eontribution I'rotn %oluntkxr5. th¥ (ontribuliort ofiolunl¥Yr5 is nol includ¢d ￿-1th1n Ihc incom¢ ofih¢ charitk.. How'l vir. Ihl iruslLLs valuL IhL siBnifiLani coniribuiion m*JL 10 thL ac11￿111￿5 of thL charii!, b). unpaid ioluniLLrs and Ihis is morL fiilli, in Noiio. Policies relfjling Io fj5.sets, liobililies tindproipifions andoiher mofters. Fixed Asset Ini'estments Fixed ass¢1 inv¢sttn¢nts in quot¢d 5har¢5. Irad¢d bon￿ ini"¢51m¢nt prop¢rt1¢5 and similar inv¢5ttnents ar¢ shown initialll al cost upon acquisilion and ai Ih¢ir tnark¢l ialu¢ * the balanre sh¢¢i date at th¢ end oftli¢ finwicial period. Inv¢stm¢nt proFKrti¢s ar¢ no¢ d¢pr¢ciated. Fixed a%%el i￿￿e￿￿￿enL4 in unli.￿ted equili*i aTe sho￿￿ at the balance sheei dale ai the best e%tittLllle Dftheir rnarket value, where praLli£able. Where I'alualion techniqu*i aTe con%ideTed unteliable or ii"heie. in ihe opinion of the tru%lee%. the Lu%L% ciutiveigh the benefit% to the useTf ofthe accoun￿ ihe iThi"esttnent is included at co¢ and a Teiiew undertaken at each )'far end &s to i%"hether the should be iiTitten do￿Tr. All gainb on fixed assei iniesimet)i& whethu rtalised or unre8]i8ed. are ineluded in row B4 of the Siaiemeni of Th¢ Baptist Union of Wales Notes to the Accounts for the period from 17 Noi'ember 2022 to 31 December 2023 TangiblefLredassets Tangibl¢ fix¢d ar¢ tne&suT¢d at Ih¢ir original cos¢ iaJu¢. or sUh￿qUe￿I r¢NaluaLlOll. or if donal¢d. d¢.4crib¢d aboi'¢. Co%t valu¢ includ¢4 all costs ex￿nded in bringing th¢ a￿$¢1 into ini¢Thded Mmbrk'ing cundition. tkpreciaiion has been provided ai Ihe follow'ing raies in order io Mriie off the assets 10 (heir aniicipaied residual value over Iheir esiiinaitd usel'ul liies. Planl artd ma¢hin¢4y 33.33 %sI[￿ghI lin A r¥BLilar anniial r4vi¥W of th¥ lik¢lihiMxl of awl impairm¢nt is und¢rtok¢n. Sto¢ks ohd w(krk in proRress %t m¥uyur&d ai Ih¥iT r&xoYLrable amouthis ai ihL sh¥ii da*. Cr¢dltors And provlsSon$ %hi)rt ILrm Lfidiiiir% urL mL&suNd ai irJnsaLliC)n priLi IwhiLh 1% usualli IhL in%c)ILX PTILLI. l.(iJns and i)IhLr linancial li&ibiliiiiS afL iniiiallj Ni()8n¢sLd Ji irnn.%aLiion priLi nLI (if an>- irJnsaLllI)n Lohls ￿1￿ sub&L4ULnils mL&%urLd di Jini)rt1Sid Li>%1 dilLrminLd using IhL LfYiLl1￿l iniLfLs1 MLIh￿l. I'.ash bHnk bHlonces C'a%h hLld b% thi Lharil) 1% inLludLd ai Ihe amount aciualli- hLld and COUnlLd ai IhL I'L'arLnd. Iltink baldnLL& whL•ihLr in LfL'dii ()r IlWLrdraMn. drL' sh(>wn ai IhL am(>uni% propLrlJ rL'¢onLiIL*d li) IhL imnk %iaiLnKmis. Pensions- dtfintd contribution J¢hem "I'h¥ £harili' op¥ra1¢5 a d¥fin¢d roniribulion FYn5ion %h¢m¢_ Coniribulion5 ar¢ chaTg¢d ¢0 ih¢ Profit and lo&s account as th¥N birotn¥ paN'abl¥ in arcordanr¢ wilh th¢ ru1¢5 of lh¢ %h¢m¢. 2 Liahility to taxation ThL TriistLXS L0115idir Ihat Ihe chariTh' sRiisfies Ihe ieAs sth oui in Paragrdph I Schedule 6 of the Finance Aci 2010 for UK corporation lax piirp05¢s. Accordingli.. Ihe ChaTiTh is poieniialli. ciempi from ialaiion in N'spca of incorne or capiial gains rLYLivLd wiihin caiLgories co￿¢T¢￿ M chapier 3 part I l of Ihe Corporaiion Tax Aci ?010 OT Scction 256 of ihe Taxaiion olchargtable Gains ALI 1992. 10 the exieni thai such income or gains are applied exclusiiell" on the specific charitabl¢ objects ofihe charirn and for no other purpose. 3 Winding up or dissolution orth¢ charity If upon Minding up or dissoluiion of Ihc Lharii!. thLYc remin ani. &ssci& aftLY ihe saiisfaction of all dLbts and liabiliiiLs. IhL aSSLlS fLpfLscniLd b￿. Ihc accumulaicd fund shall ￿ IransfLrrcd io somc other charitsblL bodv or bodics hawing similar objLLlS 10 IhL Lhdrill,. Th¢ Baptist Union of Wales Notes to the Accounts for the period from 17 Noi'ember 2022 to 31 December 2023 4 Net surplus before tax in the financial year 2023 ThL rtL￿1 sutplus bLforL' tlx in thL firtttncial %'L4t Is sta￿1 atkYLhatging."- Ikpr¢cialion of pwi¢d f)xed akw$ Tru%l¢¢4' r¢tnun¢ruiiun PLnsion Lo￿15 Audiiorb, r¢rnuneraiion 7911 20.701 3.822 3.622 5 INvestrnent gain5 C'urrent l'ear I'Dmificitd ('urttDt y¢4r R¢siritied d$ C'urrtnt y¢ar Toial Curreni Year 20 2023 2023 Unrefill.fedgrtlK.f/(Io.f.f*S) wrldttg dowtt olcArrJ,Inx valwes l.i%tLxl invL%tm¥ni%- lJt)r¢alis¢d 03.292 47.373 Total unrtalised goinslllossesl et¢ 6J.292 47J7J 110.66 Tot•1 r¢4lls¢d gnd uttr¢4lis¢d 8•ln$ 63,292 47J73 110,66£ 6 Staff eosts and emoluments Salory cosls 2023 (iri)5￿ balari¢5 ¢%rluding Irus1¢¢$ and ko" matha8¢mthi p¢ry)nn¢l '.Inplo>Lr's Naiion411 Insiiranii for all staff l.'mplo%'¢r'5 op¢rating (osls of defin¢d ontribulion p¢nsion 5rh¢rn¢s "I'ru51¢¢s' R¢mun¢ralion as d¢lail¢d in nol¢ 8 uih¢r b¢n¢fits paid to Irusl¢¢k as d¢¢ail¢d in nol¢ 8 818.¥80 9.651 3.822 20.701 Total salAries. wAges and related costs 126,471 offHII emploj'ers orfmlltime equivfjleots 2023 "I'ht av¢rJg¢ nutnb¢r of iotal stsff ¢Tnploi"¢d in th¢ p¢ri￿ 'I'he average nutnb¢r of part tiTne 4aff ernplo)ed in the peri￿ w7S The a￿trage number of full lim¢ sthff emploi'ed in ihe p¢n￿l M'as 10 The d¢Mils of r¢mut)¢ration paid io tru￿t¢S is showm in noie 8 No LMnplo)'ccs rcLciied LInolumL￿ts Icxcludirtg pl￿slI)n Costs) in Lxetss of£60.(KM) PLr athrtum. Th¢ Baptist Union of Wales Notes to the Accounts for the period from 17 Noi'ember 2022 to 31 December 2023 7 Defined tontribution pension sehtmes ThL ch￿1(￿ OPLraiL'S a dlfinl￿d contribution rKmsion srri> 2.334 2.334 2023 Pen.fl(In paymenl.T relullnx lo irMslee5 or connedeilper50nS R¥vd. Judiih A. Morris Alih()ugh RL%d. Judith A. M()rri% ts a tru￿L* 4)fihe chariii". the remunerniion she recgii.es is in her LapJcii} CJLnLrdl SLLfLldTh l)f IhL BdPIL%I Ilnioti (>fw'ales. 9 Trustees, eipense5 "I'h¢ ¢xp¢n5¢5 r¢irnburs¢d to tru5t¢¢& or paid diT¢dls' lo third parti¢s, in th¢ rurrent or PriOT F*Tio￿ M'a5 b¢low. 2023 The amount Teimbur5ed lo ttustee 'I'h¢ natur¢ of th¢ Irust¢¢S' ¢XFKllS¢5 trav¢1 arLd subsisl¢nce. The number of trustees, io whom ex￿￿5¢5 u.ere reimbursed 9 Th¢ Baptist Union of Wales Notes to the Accounts for the period from 17 Noi'ember 2022 to 31 December 2023 10 Tangible fixed assets Currenl Year Plgnt & fgchinery Cost Addiiions 1.803 At J l December 2023 1.803 Deprtciation C'hdr8i ltir Ihi ￿riOd 798 At 31 December 2023 798 Ntt book value At 31 December 202J I I Inve$trnents held a5 fixed 85$els investm¢nt$ l.'#rrving i'#lue5 of investments Additions R¢valualion al 31 1)¢r¢mb¢r 2023 3.395.738 110.665 At 31 December 2023 3_gJ6.403 Th¢ Baptist Union of Wales Notes to the Accounts for the period from 17 Noi'ember 2022 to 31 December 2023 12 Storks & Ilork in Progress 2023 Stuik% b¢for¢ wri1¢ do￿￿3 1.703 1.703 Attrtlysls olihe carryl#g vulu* worl. iwprngréss bj. *¢￿VIlle$ ock& 2023 Acilvilv .703 .703 13 Debtors 202J l)ripii)illinib und accTuLd inLom ()Ihkr dLbiors 3.676 24.444 Z8.120 14 Creditors: arnoun¢5 falling due within one y¢4r 2023 Arrrua15 i?Ih¥r cr¥ditors 30.855 7.713 IS Financial cornrnitments under operating lease5 2023 At the year tnd the Charity h#d stjnuxl ¢ommitmtnty under non-¢#n¢ell*ble optratithg le#$es 25 set out below: 0F￿rating l¢as¢5 which ¢xpir¢'. iihin onc >Lar 16.129 Th¢ Baptist Union of Wales Notes to the Accounts for the period from 17 Noi'ember 2022 to 31 December 2023 16 R¢iat¢d party. transactions 2023 The Welsh Baptist Union Corpor4tion Limited RL'lal¢(I Ch,￿ ubjLxIs 9.016 9.016 T￿t￿l Primar). purpost And *n¢illar% trndini 9Jb 16 9.U16 25 '1'ut41 Inrum¢ from ¢h#rii¥hl¢ ¥r¢iiiti¢ < urreni ytlr <'Drrtnt ytlr Iltstrlcitd <.￿rrent vtAr TolAI Currenljefjr 2023 2023 2023 'Ic)iJl inLomL Irom Charl￿ble ir*lin8 9.016 9.016 'rv¢*l from ch4ri14hl¢ *clivili¢% 9.1116 9,D16 26 Investment income rrent I"lltestriritd rrent ytir R**trirled Tr'¥nds 1-urr¢￿t vtmr Tot*1 ￿-￿NdS 1023 2023 Bdnk In￿reSt ReL*ii'able 4.U30 1.424 ()Iher Inve%lment Income ?7.107 26.800 Total invtAtmtnt incnme 31.137 28.2PA 27 Other iNcorne and gains C urr*ttl I"#rtstrititd FwThd$ Curre￿t vQ*T Rtstrititd (-Urtt￿t vt*r Yoill Tr-￿￿ds Currenlyear 2023 2023 2023 Sundry oiher incom¢ 894 Other cI￿l￿bIe aclii'ilies 1.885 Total other i]Jcome 2.779 2,779 The Baptist UDiOD of Wales IYote5 to the Accounts for the period from 17 November 2022 to 31 December 2023 28 Expenditure tharitable activities- Direct spending l ￿Tr¢￿t v¢4r I'•r¢stri¢i¢d F•thds rr¢ni vtar R¢stri¢tfd F*nds c￿TTe￿I v¢Ar Totpl Curreni Year 2023 2023 2023 Gross wag¢s and salaries- Charitsble 72.810 5.027 77,837 Employcrs. Nl- Chariiable a¢iivities Defined contribution pension ¢osts chariiable aciiviiies Travel and Subsi5tence- Charitable A¢riviiics Other donation and subscriptions 6.J15 3.491 3,491 2.748 2.909 1.470 176 2,746 Tolal direct 5pendin% 114247 y3,21)11 29 Expertdiiurt on eh#rliable *eiiwltles- C.'harlt#ble irndits ( Yflr < urrr￿1 vrar ( urrtnl vtar Toilll Curreni YetTr 2023 1023 21J23 Cost of goods for primary purw)se trading- Includins movement in stock for 8oods 9379 9,879 'rntil Iharilahlt trading 9J179 9.R79 The Baptist UDiOD of Wales IYote5 to the Accounts for the period from 17 November 2022 to 31 December 2023 30 Expertditurt eh*rit#bl¢ #etiYitieS- Grnttt fwndittg ol#¢iivities CDrr¢ntyur li*¥tritltd Fwnds c￿rr¢￿tY¢￿T l llrtstritltd FwThd$ Curreni Yefjr 1023 2023 2023 Grants towards Courses CJrant% to c.hurches with Ministers Grant to Brecon5hire project Benevolent grants to reiired ministers and widows 3.568 15.2VY 8.125 'I'￿t*1 Rr*nlm*kinR ¢tNtI 'I'h¥ lirdnl li> th4 Hr¥¢(1n%hl￿ 11ruj￿1 is a n¥'gJlii¥ ¢Y)s1. lo ili¥ [￿. r lh￿ th¢ fur lh¥ Jr¥ splil Ihl i)Id ihwii). and Ihl. nlii. Lll) and lh¢ liming ofih¢ Pani￿ r¢imbur51'mini ul'L%￿nd1iuK Iri)m lh¢ IlrL'LC)n%hirL' A￿￿)Lid11{1Th. Ilrt¥kdi*wn tsf (vrant% io C'hur¢ht.i *iih Ilin￿lerS I'knrre￿t yt*r I'knrre￿t v¢*r ToiAI Currenl I'et7r 2023 21J23 21J23 C'I'm￿7n1th tJLdiddw')r Mon F.lim B4ipiis1 C-hurnh ljeihi'l Fi%hBu￿d NL%¥bridB¢.'I'ak.rna¢le. Beulah 4.044 3.51M) 4.044 3.51JO NLl%'brid8e on II'YL Bapti%1 Church Y Ttrdllwn¥ Coniribiiiion from G¥sini Ass￿la11( Ci)nir1buiion from PiynbrokL5hiri 11k￿la110n 1.51N) J.437 13.5?21 1.51K) 3.437 13.52?) The Baptist UDiOD of Wales IYote5 to the Accounts for the period from 17 November 2022 to 31 December 2023 31 Support t05ts for charitable activities C-urrent vt*r l llr*Stritiod FwThd$ C'urrent yt*r liestTitltd Fwnd C-urrt￿t ye*r Curreni Year io 1023 2023 Fmpliiyee cv5ts In£'liidedln direclcosts Travel and 5ubsisience- staff Recruiimeni expenses Pension to retired staff 765 3.120 1.038 l.U38 1.250 Premi.ie.i Erpen.¥es Rent payable under operdting leases Property insurance 8.367 8J67 364 Adwinlslrftli￿ uverbe¢Td5 Sundry expenses Offlce expenses 585 6.140 6,1411 PréIfe.i.TifJnt71fe￿pQITdl0 fjdv&wvrw ￿her ihe oHdiltsror cromiller Accountancy fees other than examination or audit fees Legal fees Consultan¢y fees 2.375 525 2.1111 514 Finaneit71 cv.Th Bank Char￿¢S Depreciation & Amortisation in iotal for 142 798 186 p) Support Costs before re911ocAtion 1.698 27J80 Total support C05ts- Current Year 1,698 27Jllll Th¢ basis of allocaiion ofcosls iK¢w'ttn xlivilies is ¢J¢scrilKd ￿¢kr accouniing wblicie5 The Baptist UDiOD of Wales IYote5 to the Accounts for the period from 17 November 2022 to 31 December 2023 32 Other Expenditure- Governance Costs rrenf rrtnt yt*r livstrirled wnds Tre￿t l •re5trirled F¥Thds Toi*l Current Yet7r 2011 11123 2023 Audiiovs fees Trustee5' remuneratio 3.097 20.701 525 3,622 211,701 2J34 NIC on-I'rust¢¢s' reniuneration Truste¢5 Defilled contribution pension os¢s Trus￿¢$. expense$ 2.334 l.l.q2 I'u¢41 (Juv¢rn4n¢¢ rosta 31,321 33 Total C.'harit8ble expenditure l urrrpi l •r¢5trirl¢d ('urr¢nl vrar TolHI Current Yet7r 23 2023 Total direct spciiding Total charitable trading costs Total grantmaking costs Total 5UPPOrt cos15 Total Governance costs 84.?47 9.051 93.298 9.879 9.879 25.483 ?5.682 30.795 1.698 525 27Jllll 3lJ211 Tntal charitahlt eiptnditure 1117,361 The Baptist Union of Wales Note5 to the Accounts for the period from 17 P*ovember 21122 to JI December 2023 Thi5 fjnal)'si5 is clas55ifigd bj. aclivity. no¢bJ' descriplion 34 Analysis of income by aetivity 2023 Activity Incomt from cb4riiabk *ttivitieA Ilsiun Pr¢s5 10.988 Summnr), of Totrtl Income, the i¢emF obove 10.988 3,7i6.621 59.421 2.779 IniL%lmLnl inLum¥ 3.809,809 c￿1￿￿¢JrIgY InLoilli Iroin i%ih4in¥i Ifdnsaiiions 3.81J9.809 3$ AnAlysls otchgritable expenditure by *ct5vlty A¢tlvl¢y Dlreei ¢osts Support ¢0515 Tant funding of TolAI 2023 2023 2023 2023 RelisioM5 oclivilie5 Direct costs 93.298 93.298 9,879 ChdriiablL trading cost Emplo￿¢* noi included ith dire¢1 ¢os Preilliq¢s txpens¢s Admini.strative TrierheRds 9.879 5.408 8.731 R,7Jl 6.725 Pro[e￿81￿nal ttis Financial CQSL 5.532 9114 GranlTnakinB costs 25.483 Tot*1 Reli¥iou5 *ttiTritiE5 1113.177 27J80 The Baptist Union of Wales Note5 to the Account5 for the period from 17 P*ovember 21122 to JI December 2023 Summ*ry o(th*rithblt b) M¢liiil) Dirttt costs Support C0515 Grant funding of #ctivities Total 2023 202J 2023 2023 Toial RLligious aetitriiies "lulal tiuw 11.693 13.790 11.693 ruller detail.4 ofgranL4 and related c￿SL￿. includinE Sup1￿ COSL%. are $hoMm in ntKe JO. 36 Analysis of non ch#rit#ble eApENdithre by *ctivity Governqrt¢¢ ¢iJsts GoiernaDee C05t5 2023 Oth¢r F..xp¢Nliwr¢- Gov¢manct cosis as d¢thild in Notr 32 31.320