The Chariii Registrydiion Number is=_ 12010i8 The Baplisl Union of Wale5 Report andAccounls 31 December 2024 Chr£rtered Certljled A¢¢ount¢ints RIrsIde House Nornu7ndy Road &41 &TA
The Baptlst Union of M'ale5 Report and attouknt5 for the yexr tttdtd 31 Dtttthbtr 2&24 C'hmrit)" infurmtio Tru51tts'.InnuAI Report 141tM¢nl 4)f Tr1¢¢$, rp&bIlItIeS Indcpendenl..luditur5' Ktpurt Stht¢meni ol'Finan¢ial A£tiviti¢s ('*ih SiAiemtnt 19 21
Tht B#pti%t Uttion of Wales Trustees, Annual Report for tbe year ended 31 December 2024 'lThe"ITuslrcs pre5eni IheiT Kcpm and Acc(vJnts fur ihr!tJtendcd Jl Lkcctnbct 2(b24. Reference and adminislrJtiYe detail The choritj, Th¢ legal nameof th¢ charity is.- Th¢ Bapti UnioTh o(Wales ThL' iharii) is also knoiln bl 115 UPLYaiing nanK'. Illldcb Bcdyddw)wC>Tnru. 'I'hc knharil) iy r<81yred in F.n8lxThJ & Wale5 M'iih rh¢Lty Commi%%M>n in F.ngland & Wslcs ICCF.Wl Iiith hrIt5 numbL'r l?01058 Th¢ ¥hariiy dots not op¢rat¢ in 4ny ¢)Y¢rs¢4s jsd]U1ons LÉxulyrruitsreuJthe choTIty 'rhe Lharily 1% C'hariiible InLX)rporaied organiaIK ICIOI in 1-'nand & Walt%.'lTht 801'erning dIulent ol'LhL' iharil) Is Ehc ion%tlEULLon ufthc C-10 as llppruve41 b) the Lhllri¢!' C'(xnmission Lll l..nBlund & Wales IL'I'I.'WI 'I'hL gciviming dcKumLnl i% 17111121122 'IbLr¢ ar4 ni) N'siriiiic>n.% in ih¥ gi)l¥ming J()¢umcnis on thL' op¢rniion orth¥ Charii). or i)n its inNLsimini pL)wirs iiihir Ih4Ln IhiisL impii4Lxi b) C-harili l.ai4. 'I'h¢ In¢¢ w¢ all Lndiv1th 'rht prlncip41 optr•llni addre ItltphoNt number. tmaii Thtb •ddrtS5e5 of the rharllv ll-_ Building 2 Par¥ Dewi Sant. Job5 Well Road. crMaLI1 SA313I1tI 'ril¢phvne 0345 2?2 1514 Email AddrL55 PV511¢('U'.kn)1nrU '¢baddre5s mMW.bu..wl Tht Trwttes in oifice the datt Iht prt w.as appro1" The=_
Ir
Revd Steve Wallis Reid Emljn Dok Mrs Ann en Nlorgan Red Judith M()Yfi%. FSA. NlphLI. NITh Mr rj1yndr PrIde9X Miss De]h Willianls Revd Sue Phillips Mr. Bill DaleS IChuiTI vd Mrrw) RIB6 03AHQ025
Tht B#pti%t Uttion of Wales
Trustees, Annual Report for tbe year ended 31 December 2024
The follom'ing persolls 5tr%td as TThsttt5 during iht i'tareudtd 31 Dettmbtr 2024=_
Dgte of resignAtion
Rcid Slevc Wallis
Reid Eml>n Dole
Mrs Ann Bowen NlorBaD
Red Judith mols. BA. Nlphil. Kffh
Mr GIndr pride¥
Miss D¢lyTh WIlliAm%
Mr Franci% Maull
Mr. Bill Dabies Ichawl
Revd MeTryn Ri
0310412025
Objects activities of the ¢hrity
Thepurpu.$e.s ofihe ehtstio. tt.s s¢ioui in its %uwernln£ doc4menL
'I'hL' objLCt ofthL' Ilapiisi Ilnion ofm'ales IherLMfter ihe Union) is, for ihe public benLfii. Ihe advancLmLnl or
lh¢ C'hriyiiiin laiih ils praL¢iL¥. 51]1! M" th¢ m¥ans ot'and in a¢L(brnlanLL i%i¢h IhL prinLiplLs ()I'thc
Iluptibt dLni)minaii()n in pthiiular. bui n(Trl LXLIusivLlI'. Ihrnugh Jni. i)r all (IfihL r(Il](Tr1ng mL4Lll5'.
l.'I c) pr()pJbyati th¢ knc)wl4dbi cil'ih¥ dixirin¢ and prJ¢iiii of ihi n¢w li%tsm¢ni;
2..1 (i Lulliall um(In&s1 IL% iiwn mLmbL'f5 fLspLI I(TrVL 4iThJ i((ra111)n fi)r and 14.ith i)IlL iiniiihLr. und li) all
i¥h() Ii)i¥ th¢ l.i)r(l ('hri%l. ii'hilsl r¢.511n ik. ind¥TrnJin¢i (Trl'¢%'iry' Q'hurlh in mJtt¥rs p¥rtJinin&J ii)
ils {ln g(i%'irnmini and di%iiplin¥-
3.'11i uppi)rt LhurLhL% in Mi%11)n and minisir). inLludin8 ihL r()nnaii(In (TrfLhurLhL'%. C'hrislldn Ll)mmuniiies
and illl ilgTi mini51ri¥b and M 5uLh oihcr mLth(NJ5 thl rouncils or jvini c(iunLil shiill dilLmiinL.
4. Tci dllcird i)ppcTrnuniiiL.% fcTrT L()nfLfLnLL and lor uniiLMI aLllI)n on qu11(nI anLLting Ihl }Li[arL (IfihL
Ihur¢h¥s, Ihi support of ¢h¢ ministr% and Ihi ii¢¢n5ion of th¥ C'briaian f4ith. ixjth ai homi and abroad.,
5. 1 li prom()tL g
Tht B#pti%t Uttion of Wales Trustees, Annual Report for tbe year ended 31 December 2024 The main uclivilies undertaken in reloliott lo ihosepurposes during iheyear. 'Ihe Llnion established as a CIO on 17 Noiember 202? On 31 Jul). 2023. the assets and liabilities of the Baptist Union ol'lN'alLS isLfL' translLrred 10 ihe nil4" CIO and on l AUEUSI 2023, Ihe CIO look 0er ihe itLlivili¢5 oftht BilPiiS1 Ilni(In (If W<il¢s. TheT¢f(Y¢. lh¢ co]np&waliv¢ figurts Sho in these acLLiunts' onlv cover the period l AugLLSI 2023 10 31 December 2023. During ?024 Ihe main aciiiiiies have been= l. Support ol'ljnion otliL¢ts 10 ¢hur¢h¥% associaiions wld minisi¢rs. 2. Plthnning for Annual Q'onf¢rences 3 Saliguarding.. PoliLI' Ilandbook Updaied: NLii cielL ofminiskrlal Trnining cornmLne¢d: Promotion of IIt¥Uiwding %und(ii- 11('%..I r¢.4w)nS¢ iKli()n li51 PTepard b! safegurdIn¥ (]lLer. 4.DLvLlopmLnt and ilpproval of a Minisierial C'i)de ol-conduct 5. Inilu.%ii)n ()l-a NL%% Mini%¢irial Caiigon IcTrr Mi.%%ic)nal Klinisiers 6. [..sblIShMlnt L)I' %tratL'&i' (ir(iup io rLpOnd u) ?1)41 rLtN)rt. 7.OnbJi)ing SiruLiufid Suppon 10 Minisi¥ts and min1¢r$ 8. Mi%sii)n A%%is%mLnt vl. RLyiundt ljuildings. 9. 1.Jun¥h c)I' Yi)uth Ini¢ia¢iie l..sg)'n
Tht B#pti%t Uttion of Wales Trustees, Annual Report for tbe year ended 31 December 2024 The sh&rt lerm and longer i¢rm andobjeeiives. Short Term: To r¢vi¢w the work orth¢ Union so as to ensure that priorities and level of investhietJ( is appropriale. Longer TLmi.' To identify. and supp)rt new mission opporniniiics Miih the AssocilonS and ehurches as the Dutnbtr ()f tTiSdiliunal churLh¢J d¢Llin¢ and sttk n¢H" Wi5 to 5upw>rl ThinisiTh' i&ithiTr the L()nlc¥t ()f the 2041 Report. The Union operdies b), proTr'iding supr and "here appropria. leadership, io member churches as ihev seek 10 work in iheir iommunilies and in iheiT o%i'n l#rtguag¢. This support in¢ludLs h¢lp to di8¢¥m 51raiegi¢s for church life. prnciical and lindncial assisunce as appropridte, as Mell as PTOI'ision of ILgal and administrati¥ s¥'tvi¢¢s {larg¥li' through ih¢ WLlsh Bapiisi Union Lorpordtion Limii¢dl', and ii is th¢ int¢nii(In ()fthL Ilni()n. bi pr(ii'idin¥ wptM)rL 11) help LniiblL LhurLh¥5 1(} TL%P(ind i() thLir Lulling. ThL I Inii)n h&s alsi). in Lo-operation M'Lih ihe Welsh Ilapiisi Union C-OrratIOn l.imiied. faciliL8ied Ihe realisatii)n ol-lhe vi%ic?n i)I'thL' %%iimLn'4 Jn()vLtntni (If thi Lhurches io pNJvide resideniial ie fi)r the elderly at thL WLl4h I17Plist homL ai Cjli'n NLsL NLwiasile I:mli'n. In IhL LciursL cil'ihLir mag¥MinI of IhL ljnion. thL trus¢$ havl regard for th¢ publi¢ bLnLf)t providld bv Ilnii)n uiliVitie%, and ihis 15 a f¢aiure both ofthe Union's WLwk in support of member chuTLhe& and i)f 115 l. 'I'hri)u¥h %uprx)rting m¢mb¥rLhurih¥s limblr ihurLhi.4 pr(iTri4Ji publiL IK'iiifii ihnbugh rK)rmal churLh aCiivitie& inLludirtg Ibul rtl)l TL%triLILd i(il proviii)n (if puhliL Wl?rship i)pportuniiiL%, iIL.11 &s c)IhLY bL'nLr1 suih PTO%'ision ()fLhurLh halls li)r mLx'iings i)I' Ii)Lal gpr()up%. vl-LLm¥'liYiLS usL'd b%" IhL i%"idir (mM1)It1. %undil! yLhi)i)lts, )()uih Miirk. &Triiup and PLThi>nal 1)fkindnL%S in ihL Ll)mmuniii". inLluding LaTL l)fthL %iik. di'ing. and bLrLuvl. Li)un%Lllink, dibi ¢()un¥¥lling, pr()iisi()n i)f fix)d hanks. lunih¢É)n ¢lubs and ralis. In addill(In. I Inii)n %uppi)rt ti) ¢hurih¢s inLludL% a%si%lin&i LhurnhLS in Li)mpl)ing iiith rLNUiTLmLnis lur r¢&JU&lrdln&j vulnLrahlL indifviJutils. iiih a %'Ll4Y 10 ¢nsurin8 h)Ih lh¥ pr¢*inii()n i)f harni ad(Ipii(In ()I'g()i)d prJ¢tii¢. Ilnion 5UPP()n l(Ir ¥hurih¥5. iihiihir b! dirnLi finaThiial grani ioii-ards minisliriiil stirndS or 5PLiifiL PTiijILI%. medsurLbd aLLI)rdin8 IcTr need, i)r hi" LnL(iurdgLmLni. c)r admini%iraiive Jnd le8Jl %uppi)rt. faLiIitsiL'% ihL puhliL 'n¢lilb providi bi 5UPFX)rt¢d mcmbcr Lhurchc5. Pil!Thcnl ol-IhL mimbcr church rontribuli()n a church li)r a i'Ldr I%LIt dl £20.00 rL,rATrrtL mLmtK'r 4)fa chuTLh in 2024) LmiiilLS a churLh ii) Jll k'nLlii% (Il. M¢M.r5hip.' and in prar¢iL¢, apart fTom th¢ righ¢ io allind ¢h¢ Jnnual confcrn'nrL. and io h¢ ronsidLr¥d for linaniial 5uppon, IhL ginLral p&siordl k"nefits ofunion mLmkYship arL noi usualli. iliihhlld 51)ILI!' bL'LausL mimb¢r5hip ¢iintribuiivns hai'¥ nvl k'in paid. Th¢ d¢ri5ivn io ¢xrlud¥ fri?m Ilnivn m¢mh.rbhip Jnd all "nLli15 15 iakcn onl!. aftcr carlful con5idcrntion along 14iih paAoral considcralions lo a non-pal'ing church. 2. Bi. direct acti.1¢1¢5 In addiiion. Ihe lJnion acts direcil¥ provide public benefii b¥. Ihe adancement of ihe Gospel ol'chrisl in acrordanr¢ with the prinrip1¢5 ofihi. Ilap11515.' M sUPPOrting students in mini51¢riJl training.. b) encouraging and sUPPOrting Minisllrs to Lqkc sabbaiiial& b! arranging mini51Lrial and IcadLTShip rctrcats and ii?nferertL¢S.' fa. ¢iliLLling 3Lh¢m¢s lo suprA?rt ihurLh¢b in miisiiTrn Jnd bi" ¢ontrihuling with ()Ih¢r ¥rvups io Christian w'i¢ne55 in rnatlers ofwcial jusiice.
Tht B#pti%t Uttion of Wales Trustees, Annual Report for tbe year ended 31 December 2024 Delfjil.f of.fignificanl activi11 (including ils mainprogrqmmes prnjects, or.sei¢e$ prnvided) Ihul eolliribiiie io ihe uchievemeni olihe sitsiedubjeLiives. 'CalLg(ID 7 Mi>iii)nal Nlini%1¢'. Thi. ti¥ll C11£.¥()0 r(Ir [ni55iunil nilnisr$ ¢st4bli%h¢d which recognises and atfimis missioThal minisir% iiiihin our siruaures- proi.ides a iraining paihMaN' lor those called li) tnis%ional mini%tn i)IY¢rs a Siru¢iui¢J Lart supwirt pa¢kag¢ fi)r ihi)se engag¢J in thi% ministr>'. 'Oi'erseas Mission Workers'."ltht Union continues io H'ork with oi'erseas mi55ion orkerS through the LIK VISA sponsorship progrythme. ThL applicaiion proce&s for ministLYial LdId&lL M'as also rLNiew'LSd. The coniribuiion of volunieefs during ihe J'ear. The lJnii)n relie8 he&ily volunieeru)mmiiiee m¢mr$ Ctslltribuie IK)th ger)ernl knowledge tsf churLh lilL and Spicialisi expLrtise. -I'he Union i'alues highl). Ihe con(ribuiion of thL N'olunicer ci)mmitiee MlM.¢$ wiihou¢ %4'hom il could not op¢ra. Granl makinRpoliciu and how ihefe conirihuiedio ihe OchievennI oiihe chariry'.f aim.s and bjeciive.f durinR ihe J'eur. ThL. Ilnii)n makL% grdnis (Trui orrund& both 10 churches al inter-church pr(ijects. and In individual%. li has LsiJbli%hLxl J granis pan¢1 ii'hiih duls iiiih r¢qui&ls Ir()m ¥hur¢h¥% #nd indii iduals fi)r finanLiJl suppi)n. 'I'hi punLI approximalL'ls' IhrLx )'vdr. 'ILn mini.¥tcrial/missi()n grants madL during 2024. The main Aehiei'emenls and perftsrmatsee of ihe chril!' during ihe yur. wi)rking gTOUP estsblishLd io Lon%ider lifelong learning optmjnuniiies fi)r Minislers. A meeiinu) (Il'ihL (irdni4 pdnil M-%15 h¥ld io r()nsiJ¢r iippliijiions from L'hur¢h¢s lind %iud¢ntts. l.(iur induLlI()n %¢rvi¢¢¥ hLld li)r Minislirs. W()rk M'd% undimakLm Miih Ihl IniLrdLnominali(Trndl %afLguurding l>aiiLI li) LII%UTL Ihai dppr()priJti dnJ pr(KixluN ii"irn' pr(l]y impl¢m'nwxl in ()ur ¢hurih¥% Jli)n¥ wilh l)Il% ¢hi¢ks and training. Updails lo thi Safiguarding I landbook wcrl circulaiLd. Monihl% Mini5tL'rial Supp(irt ML*•iing% Ll)ntinuL'd 11> . hLld i)i"L'r 7.Ix)m w.hich c)IYLYL'd Jn (Trpp4)rtunit! fcTrr ILarning. fLllI)w%hip dnd iior5hip."I'hL ini¢ialii'¢ for Noung pcoplL'I..5&im' launch¢d and atlrnLlcd oNir 3111"(Trung pc(Iplc to it5 first IveLk-Ind mLiiing. l>ldnninbTr lor subsLquLni mLLMings is underwa!.. PrLpaTaioTh work on &ssisiing ChurLhe% %h0 wish ¢0 r¢gisi¢r I'IV's b%n romp1¢1. Fundrai.fing oclivilies during lheYr. The rhJrity rrlies on inv¢m¢nI inrom¢ Jnd on membrr ctmiribulion5 to it5 budg¢L and a15(i w¢iv¢s ¥ift5 from oihcr donor5. %ih(kse 5UPPOrt is ialucd. and. on occasion. as uliimatc kncficiaTr in ihe trusts for chapcl pr()peftie% iihen findll%' L](Trw fcw w()r%hip. Durin¥ 2024 Ihe ChurLhe% railed fund% fi)r thL ('hri%lldn Aid '"I'alen15 01-1 lope Appeal, for neil" mdhods of fam)ing in Limbabile wthere liielihoods had been atTected b climaie change.
Tht B#pti%t Uttion of Wales
Trustees, Annual Report for tbe year ended 31 December 2024
The difference ihe ¢hurity sp¢rfurmtsnce d4rin£ ihe i'edr hos mode to ihe beneficiories ofihe
eharity.
An intormaiiort doLum¢ni is prL'pared annuall%' for all chllrchL M'hich sets out the benLfits of the services
proi'ided b). the charii). in relalion ihe membership subscripiion fee paid bi" the churches. It refers to
bL'llLtiis such as ministry. and mission grdnis. min1cri81 acerediL8tion, llent Erants, sateguardinE,
uidanL¢ in r¢lalii)n i(1 buildingj. L¢m¢ifi¢5 rw51 d¢¢ds e¥Lepl¢d Lh
Tht B#pti%t Uttion of Wales
Trustees, Annual Report for tbe year ended 31 December 2024
Theperformunce of mater1ulfundrulS llclivilies during ihe Jeor oguinsi lhefundrnig
objeclivas sel.
Dcspiie the eosi of li%'inE pressures and the challenges arising trom living in a secular sociery, a high number
of LhurLhts resp(Ind¢d p05iliv¢l)" lh¢ r¢ques1 fur subscTipliun pavments. Savings h
Tht B#pti%t Uttion of Wales Trustees, Annual Report for tbe year ended 31 December 2024 The chority Ilpllrt ofa wider nelwork. Th¢ Union is in ¢15SratIon ii'iih ()Iher Bapt15ts through uThbrellil organi5ations such as the W(?Tl(J MissionlBapiisi Missionan. SocieTh i. Baptist World Alliance and the European Bapiisi Federaiion, as well &% Ihri)ugh %peLifiL &k%(Ki#tii)rt iiiih Btspii%t Org15111?% thmughcwi th¢ i¥i)rld. li i(l)Per#i¢4 with i)IheT churche5 in Wale5 Ihrough OrganilonS such as C-!1un IC-hurches'l"ogether in Wales) and the l.ree ChurchLS Ciroup., and in conni110n Mith safiguarding ihL Inierd¢rtominaiional Satiguarding Panel. The chdrirt s relaiionships wilh reldiedpunies. Uver and above the finanLial relationship110 iihich relerence is made in ihe linancial ststemenisl bil14CLn Ihl lJrtion and its rLlai¥d parti¢, Ihe ljnion prowidls imciburaglmimi and nurtUTiog (c) thL individuals dirnxily rtsp(In5iblL und a150 in somL cases adminisirdiive suppon. 'I"he related parties are.. Th¥ W¥lsh Baptist lJrtic)n Corporaiion Limiicd Th¢ BJptist Building l.'und lor Wales The eharlty's relatlonshlps wlth oiher iroups eharliits #nd Indivlduals 'I'hL' Ilnii)n has lornial r¢l41ionships wilh Ilapiisi and oth¢r c'hrilan ¢ommuniii¢s in th¢ follnH'in8 Ilaptiit Ilnii)n i)l-CirL'Ji l1ri1n. ai TrlOnal and regional le%15 l.Illiiw%hip i)I' Ilapii.4I in14Tithin and IrLlJnd IIM% W()rld Mik%ii>n ('N'iun IC'hurLhL'%'I ()b)LiihLr in WJlLs1 Jnd Frnx. chur¢.5 Gr(Trup IniLrdLniiminiili()nal %al&guarding Piincl Ilapti%t Wi)rld AllianLI Cin&Tr{)r >r Ysgpi)lii)n %ullM'Llsh Sunda! Sihix)l% Council) l)M) Ilg(Ir i .3 Y%gril¥nn%"dd IC'(Immill¢x ol'(iLn¥rJl %¢rr¢wies of3 Iknominaiionsl Wi15h pl¢5 01-WoT5hip Forum Bank¢ Unity TruA Bank. PLC Pothecar). Witham W'eld 84 tcclesion Square. PimlicoiA>nthi. SWIII IPX Solicilot5 In*esEmenE adiisors Chsrfcs. Sthiey. 718 Pk Place. Csrdiff. CFIO 3DP Aiivunianis Cr055 & Chartered Certified AccouThtsts. Ri[51(k House. NoJJnandy Road. SiianseL SAI ITA. Allditnrs Ellis Lknyd JoJK5 A11[ aLartered AccowLlants. I I p Square. NeTA)rl NP20 4EL
Tht B#pti%t Uttion of Wales Trustees, Annual Report for tbe year ended 31 December 2024 Financial review The Lhori47 sfinunciulperfornianLefor the Jeur ended3J Decembcr 2024 2024 Periud to31 1)cr¢mbtr2O23 .1 olul income T(Ilul ¢xp¢ndiluTe 814.4P) 1?6%.3631 3.807.837 rltt incumt for the ytarlperiwj 351.776 3.731.142 On 31 July 2023. oss¢ts wilh 4 valu¢ Df£3.688.2¢hS ty4nsf¢rr¢d fr¢¥ll th¢ pr¢i4ously wisrtl ]1gptisi Union of Waieq Lhnrily. Thes been in¢lwJed in the ithl Int4) for the 1031 t)ecember 20?3 of £3.807.837. IThL Ifu$iLL$ considLY thL financi r[Om>a¢c b) the ¢harii)' during thL have bL'Ln saii$fa¢torv. 'IhL Ilap¢is1 lJnion ol'Wal¥s r¢moins wliani M ih¢ ¢oniinu¢d finan¢ial suppon from th¢ WLlsh Ilap¢is1 Ilnii)n C'(?rpiiruli()n l.imikxi thL Ilaplisi Iluilding l.unJ f(IT WJlL%. The Lhurih sfintsnci4lpo.%iiion ai ihe reportin£ dale. JI Decemher 2024 'Ihi linaniial )51(1[) ofthc chari1 31 Ikx&mbL'r 2024, as mor¢ full)" dc¢ailLd in thL accounts, can bl. 5ummari&ed &s lollows=_ 21124 21)23 IlnrL'%ifiLted Revenue Fund% available for Ihe gcncral purposts ofthe charits. 2.217.8 1.871.82 Resiricied Revenue Funds 1.365.310 1.8.59.322 ot1 bund 4_082.918 3.731.142 Specific changes in fixed ats ar¢ dela11 in th¢ note5 th¢ account& A¢ 315t Dec¢mb¢r 2024 ihe market i'alue of the invt5tTn¢rts of the chariti" a5 £3,551,43612023- £3.506.4031 and Ihc c&sh rcservcs werL £319.41412023- £232.4791.
Tht B#pti%t Uttion of Wales
Trustees, Annual Report for tbe year ended 31 December 2024
Policies (pn reserve&
The polic), is io ensure thai Ihe Union has sutlicieni frtt and alailable funds io med ai least 3 Months of
anrtu)I hudgeied eNp¢[llure. In additii)n. the TTU%t¢¢% Ltsn4ider il is prudenl t() pmvide ftsT a furtheT 3
months for funding grants 10 churches and associations. Ai 31 December 2024. Ihis figure is estimated at
£250,1)00, i¥hi¢h Ihatt ¢ol'iY bi th¥ ¢utrL'nt ialui of WlN4tri¢1i rcsLm.¢s.
Avallubillty tsndadequuLy vf &&sets eueh ofihtfunds
'I'he board ol-"['rusS is saiislied thai the charii)'s in each fund are al'ailable and adequate to fulfil lis
obli&aiions irt N'sp¢¢i of Lach fund. As thL B1W¢l lJnioth of 11.'al¢s' cori inLumL dlyr¢'a'S KLar i)n and
IhL (IpLruiing Lo515 LoniinuL 10 rise, fLpfLsLniaiives of IhL Ilapiisi Ilnion (Il-Il'alLS l.inanLL ('()nimitlLL
lh¥ W'llsh 14tiptist lJnion C'orporation l.imiiul ¢onlinu¢ io 10 r¥'Vikii th¢ linan¢ial r¥laiionship he(¢¢n
Ihe two biidies in (Ird¢T iu pl¢LL¢ th¢ funding of th¢ Univn ofw&¢s on a fI¢T bdSi5.
.Significuni events which have affeciedihefinuncialperformance and ihefinullciulprfi,fiiirfin.
Apar¢ Iri)m Ihi l()latilil! i?I'ih4 sli)Ik mark¥l. Ih¢N. hai¥ IK'n Th) Signifi( durink> ¢h¢ vLar thai hai'¥
IILLILd IhL linanLldl PLrfi)maniL i)r IhL lin
Tht B#pti%t Uttion of Wales
Trustees, Annual Report for tbe year ended 31 December 2024
Fuc10 likely io affeci fuiurefinanci4lperformance.
Due to Ihe chariTh' being heavil) reliant on iniestmeni income. the major (acu>r likel)? ty affect future
fInlia1 r[c)rtn¢t 1% th¢ v<)latilil!" ()fthe sitsck maTk¢L
Principfjlfunding.fource% in ihe Jear and how iheF¢.fupponihe kej objecliveF of ihe charity.
.1 h¢ Llnion'5 main funding during ihe l'ear has been from inl'esuneni inLx)me and frL)m mLmber church
coniributions. ThL LxpLndiiurL' on Union siail.. LommilL'e Irdi'ellin8 expensL'S. ConlLrCnLL and rL4treats has
en Piiid r()r fr(Im Ihis inL(Im¢.' 415 hai¢ lo churLhex churLh pN)j¢LL% individu
Tht B#pti%t Uttion of Wales Trustees, Annual Report for tbe year ended 31 December 2024 Statement of Trustees, Rtsponsibilities ThL charity's trusiees are rL'SP)nsible for thL prepardLion of the accounts in aeeordance w'ith the trrnis ot. the Ch(fiti¢s Act 2011 lind lh¢ c'h1¢1¢ IAcLounis and ReTK)rts1 Regul105 2008. Notm"1th5&J1ng the cxplicii rLNuifLmLni in IhL Lxthni sthiuior% rLgulaiion&thi Chariiies l..Iceounis and Repons) Regulaiions 2(K)8. 1(1 pr¢pl¢ Ihe fin(li411 %tsieJn¢nL% in I0[¢14¢ '1th the SORP 20(15, in lie ()f¢he faLi Ihai Ihe SURP 21N)5 has been wiihdrdwm. Ihe"I'rusiees deierniined to inre1 (his re5ponsibilit)' as requiring them to ltillow LurrL'ni IKhst Prn¢li¢L and prL'paT¥ th¥ aeLu¢S &u)rding to th¢ FRS 10? SORP IStalLmLni ol. RecummLnded Praciice for Accouniing and RenIng b!" C'hariiiesl 2015. las iimended bi. Ihc Ilulletin ISSuLd in OLiob¢r 2018 and appli¢obl¢ io all accouniing p¢Yiods gInnIng on or alt¢r 1st January 20191. (Thu %()RlP In prt]Lu1r. Lharit) law rLquirL5 Ihi Tru51¢es. if thei. PTeparL 4Kcvunts' on dn CrU15 hi15. l(1 PTLpiirL rinanLial siatLmLnis lor Laeh finanLial I'LW iihieh 8iie a irue and fair viem. of IhL SL8tL ol'a(Yairs ofihe Lharii) ai thl inLI i)i-IhL linanLial iY)d ()f th¢ sury)lu$ ur d¢fiLit ()f th¢ Lharil>. In pr¢paring thi)se rinanLial siatemenis Ihe'l'rusi¢¢s are requhred 10 :. - to prcwarL IhL uLcuunts in aLLI)rdance M'iih IlnilL Kingd()m CJcnLrall)' AccwLd Aiiounting l)raill¢L Illnii¢xl kingdi)m A¢iouniing and appli¢able14wl. x.ILLt SUitsLblL aLLI)uniin¥ rM)IiLiLS and dppl). IhLm Ll)nsislLnil%': - m(IkL judbiLmillL% and islimai¥s thai arc .nb]i and pwd¥ni: - prLparL ihL fiThanLiuI sts1lmcn M thL going LYmCLrn unlLSS It is inappruprialc ttTr prL%umL' thai IhL Lh1). w'ill ii)niinuL' in busin¢s5: rLX()mmLndLd prdcIiLL hai'L jollow'l. subjlxi 10 ani. marial dipartur¥% dix1c1s Jnd ¢iploin¢d in th¢ finan¢ial W¢nl8. ThL. Idw fL4UITL% thai the 1rus1LL mLL41 noi appmve the accounL% UnIL thL. 41fL' saiisfjLid ihai ihLy ¥iVL J IruL and fair view ofihe slate of affair5 orth¢ chariti. and ofthe sury)Ius or defiril ofthe rharit} for ihi }¢ar. ThL Tru5tCC5 arc also rponsibl¢ for maintaining adiyuaic accouniing rccords which disclosc wilh c¥plain ihi iharil}'5 (ran&tiOnS and enable Ihcm to en5urc Ihai Ihi financial stsicmlnis compli" with re¥uldll(In.% mddL undL'r IhL' c-hl¢lL% ALI 2011. The% Jre dl%(i re%p(insihlL r()r %dfL'biUdrdinb ihL (If Ihe charii) and hence tor ¢aking rrasonable 5t¢Ps for th¢ prevention and ddertion of fraud and oth¢T irregularitlLS. Th¢ Tru5t¢¢5 ar¢ a150 r¢5pon5ibl¢ for ihe conlenis orth¢ Tru5tee5' TeporL and the 5taluion' Tespon5ibiliti of Ihe audiior in relation 10 ihe Tnjsiees. rern is limiie4110 e.linIng the reJx)rt and en%uring thai. IhL fLpori 15 consistent Th'ith lh¢ figur¢s di5cloKd in the financiaj stal¢Th¢n This rerA)rt appr()%'ed b%. the IK)ard oftruslees Ém 31 (k'i()l)er 2025 REVD JUDITH MORRIS. BA. MPHJL. tH MR GLYNDWi S. PRIDEAUX 12
The Baptist Uniott of Wales Indtpendent Auditors, Report to the Trnsttts of Ihe thgril), on tbe actounts for the ye9r tnded 31 Deoember 2024 We haie audiied the linancial siatemenis of The Bapiisl Union of W'ales ithe'chariTh'l for ihe l'ear ended 31 De¢¢mb¢r 2024 whiih lompiise ihe Svdiemeni of lindn¢iJl a¢iiiilies, swmerti tsrrirtanlial pi)silion, Ihe 8iaiemeni ot'cash flom's and Ihe related noies, including a summaTh' of signifi&gni accouniing policies. l.he financial Irporting tramL'work Ihdt has bLLm appIlLd in thLir prL'pardiion is applicablL law and Uniltd Kingdom ALLouniin8 Standards, inLluding FRS 102 The FinanLial Rep(ining SuThdard &ippliLable in the IIK RepubliL i)fireland Illiiiied Kingdom GLllLfdll¥ .4ccLpicd Accouniing PrdeiicLI. In our opinion the fjnancial sLqments= givL a true and fair Nicw of the swe ofthe chariiable companl's affairs as ai 31 Ikcembcr 2U24 and of its in¢ominbi rnWur¢l artd applilaiion ol'N'sOur¢i. in¢ludithg ils in¢om¢ ond ixp4mdiiurc. tor th¥ I'¢dr ih¢n ¢nd¥d: hav¢ b¢¢n prop¢rl>' pr¢par¢d in ¢Ordance Miih Unii¢d Kingdom G¢n¢rall)' A¢¢¢M¢d A¢¢ouniing Praill¢¢: have been prepared in accordance wilh th¢ requirements of the C"hariii¢s Aci 2011 Blx ffjr•ur oplthlon WL ii)nduLtixl i)ur audii in a¢cor4JanLL wilh IniimaiioNI ldardS on Audiiing?11 IKI114.4s IIIKII and appliL(tbl¢ law. l)ur rL%Pi)nsihiliiiL undLT IhusL' siandurd¥ arL furthlr &'%cribcd in Ihl audit(irf% r¢p(In¥1hlllliL5 l()r IhL uudit i)I' Ihi linJniial 4iaiLm4nis **iii)n i)fovr r¢pibr¢. W¢ . IDdLn1.n¢ ibfth4 ihwii! in J¢¢cirJJn¢L wilh lh¢ ¥ihi¢al riquirnminii that UTL fLILvani i() ()ur audii (IfihL finanLiJl stswYnLnL% in thl I IK. Iniludink? Ihl I.'RC' % i.'IhiLuI Sitinddrd, dnd N-¥ hdvi lullill¢xt É)ur oih¢r dhi¢al N'%PL>n%ibiliii¢i in a¢i()Tdanii i¥ith Ihis¥ r¢'quir¢'mini%. 11 ¥ h¢li¥v that IhL audii idinLL hilVL obiainid is suifjciini and apprLipriaiL I(} PTOi'idc u b&%is lur ()ur (Ipini(In. Other Information 'I'hE' l)Ihir inlomiaii()n ii)mpri%'s th¢ infi)miaiion inLludixl in th¢ iinnual rn.)L ()th¢r ihan Ihl finaniidl %ldtiminLs nd our auditor'5 riport ¢hirnon. lthc IruSlLL5 arc risponsibll lor Ihi oihLT infornialivn. ()ur opinion on thu IindnLldl sldlLmLnLs diK'% ncTri L()%'Lr ihL ()thL'r inf()rnidiic)n Jn(l. LILL io the L'KILni i)IhLrnISL LxpIiLjtly %lJLLbd in ()ur port. .¢ do no¢ presS ani lorni ofa55urdnc¢ conclusion th¢rwn. In connection wilh our audi¢ of ¢h¢ finanrial 51al¢m¢nts. our r¢5pon5ibilill IS lo read lh¢ oihvr inliimia¢ii?i) and, in dotng so. considLr M"hcihcr Ihl othLr inlornaiion is maicriall! inconsis[L1 wilh thc tinancial sialcmLnis or our knÉ)wlL'd¥¢ i)bGLinid in th¢ audit iTrr vth¢N"is¢ app¢ mtst¢rialli" mi(¢. If li"¢ idLntifi bULh miLILrial incon5isluniie5 or apparnnl maiLrial Misslatimin li"¢ arl rcquired lo dderniinc whcihLT IhcTC is a malLrial mi8slatemeni in Ihe fLnanLial Slemen1$ or # material mi8semen[ of the oiher infornidtii)n. Ir, hdsed i)n ihe wi)rk haTr¢ p¢rform¢d. Th"e conclude thai ih¢r¢ i5 a aleal mi551alem¢nl ofthi5 other infonllation, "¢ are required io repon thai faa. WL have nothing lo report in ihis regard.
The Baptist Uniott of Wales Indtpendent Auditors, Report to the Trnsttts of Ihe thgril), on tbe actounts for the ye9r tnded 31 Deoember 2024 1atters on which we are required to report bi exception In the light of the knoiiledge and understsnding of Ihe iharii! and its en%'ironment obtained in the course of the audit, we have noi idertiified maieritil mi&sLiiements in the tnLskes' rew)rt. WL haN'L noihing 10 fLPOrt in respLXI Ot'the tollowin8 mallers in relaiion io which the Charities Aa 2011 requires U5 t(} T¢P(lrt t(i }'uu if. in (iur upini(In= the irtfomiatiort giken ith the tru$iees' rep)rl is in¢othsisieni in an). ma¢erial rtspeLt ikith ihe financial stsiemenis,. or adequaie accouniing records have noi been kepi; or th¢ fIn(LIa1 slal¢m¢nls are ntsi in agrttrnent '1th the itLLM)unling r{d5 and relurns,. ()r WL ha¥i ni)I r¢iLii'Ld all lh¥ infom)10 and ¢¥planions U'L rnwuirc for our audil. Responsibilities of tru51tts As ¥%plainLd more full!. in (hi Ifiisi¥'S' %)$1b11ities s¢aiLminL thi Irusw's art rL'sKH)n%iblL ltsr th¥ PrL'plll1{>rt i)l- IhL linaniial sialLmLnis and for k.ing sai1sf1L ihai the!. givL' a Irue and lair and fi)r such iniLrnal Li)iilTI)I & IhL tru%ti¢% dLlinnin¥ IS ¢1) InJhli ihL prL'pJraiion ol. fInla[ sUILmLnts ihai aN, IrL' Irc)m miilLrial misslatemenl. wheih¢r du¢ lo fraud or ermr. In prlpuring IhL linanLiuI sla1cmcn the tru5tLxry arL' rc5ponsibl¢ for as5L'ssing thc Lharil) s abilil>' lo L(InlinuL u i>ing LcinLL'm. dixlci.%inb), appliLablL. m*iLrs rL.IdiLd LÉ) 84)Ln# LcinLLm and using) IhL ¥l)inb) L(InLLm (If uiiiiuntingy un1&55 ¢h¥ IruslLLs iithlr iniLnd liquidalk Lh&wiI! UT Iu VPiriiliun5. or haNi nv rLali&tiL uIIL'rnatl%L but li) d() so. 14
The Baptist Uniott of Wales
Indtpendent Auditors, Report to the Trnsttts of Ihe thgril), on tbe actounts for the ye9r tnded 31
Deoember 2024
Auditor's responsibilitie5 for the audit of the financial slatements
We haie been appointL'd as audiior under seciion 144 ol-lhe C'hariiies Act 2011 and report in accordance with the
ALI and rLIeallt reguldiions mode or having etTeLi therellndei. A further descripiion ol'our responsibililiLS is
vuilable on the l.inancial Rtponing C-ouncil's ii'eb5iie ai.. hitP5=11 lw. frc.org. uklaudilorsre5poiisibililie5. I'his
dLscription tomis part ot our audiiorfs rL'rM)rt.
our objeciives are to obiain re&8oThable &ra[he¢ aboui whdher ihe financial statrments as a M'hole are free from
maiLTial tni%slaM¢rt1, wh¢iher due its fraud i)r ermr, a[ io issue an auditor s Teptsrt thai in¢luLle8 our i)pinii)n.
EiL&sonable assurdnce is a high level oruranCe. but Is noi a guaraniee thai an audii conducied in accordancc
ifviih IUKI 111 alwais d¥sl¥¢t a mai¢rio1 missiai¢mini Il ilS. MisstsiL4n¥nLS Can aris¥' Irom Iraud or
erri)r and
The Baptist Uniott of Wales
Indtpendent Auditors, Report to the Trnsttts of Ihe thgril), on tbe actounts for the ye9r tnded 31
Deoember 2024
As part of an audii in accordance w'ith ISAS IUKX H"e exercise professiond judgment and mnn professiona]
eptilistn IhT()ughtsut the (iudii. We al)-
IdeniifN and asse&s ihe risks ormateri mi&%L8temeni ofthe financial SthieMen whether due to fraud or error,
design and pertorni audit procedures responsii'e 10 ih05e risks, and obmin audii ei'idence Ihat IS suITicieni and
appropriaic 10 providL a basis tor our opinion. ThL risk ot'noi deicciing a MerIal missthiemeni resulting from
rr<lULi is higher f()r un¢ r¢suliin¥ frujn eTf(IT. fru ma! inv(Ili'e Li)IIusi(In. f()rgeTr', ini¢Dti(InJl (Iini.4%i(Ins,
misrepreseniaiions, or the override ofintrmal control.
Obiain an understanding of Inal conirol relei'ani the audli in order to design audii Procedures that are
apprc)priai¢ in th¥. ¢ir¢umsthn¢L% bui ooi for thL Purrrt). ofcxprtwing an opinion on th¢ ¢if¢¢iivLnLss of ihL
inkmal LontTOI.
F.illU11tL IhL itppri)PTialL'nt'k% (If Ir{)Untin¥ p()lici¢s used and the r¢iwnahlen¢55 1?f al}unLIn¥ e%limulis und
rL'laiLd disLlosurL'S madL b} lh¢ trusieL'S.
C'i)nLludL i)n IhL uppropriJk•ThLSS ofihLI IfusiLLS' USL. ofihL going conccm basis of aLcountiiigy iJnd. hasL.d on Ihe
udit ¥iidLnLI C)biain¥d, whiih¥r a mfji¥Yial uniLr1air)i! LNis1s r¢lad 10 or Londiiiuns Iha¢ Litsl
ignililuni diiubi (In thL Lharii)'s ubiliii. i() c(LInuL a g()ing L()niLrn. If ill Li)nLludL ihdi u muiLfiiil unLLriuint)'
i%t%. are r¢'quirnxl li) dra. atl¥niion in audii()r's K'¢x)rt 10 lh¢ r¢loi¢d di%¢14)%urL'& in th¥ linanlial %iQl¥m¢nts
<>r. il'%uLh diiLlI)¥urn.% inadLquJlL. lu m(NJif!' ()ur ()pinii)n. l)ur C{lI$11)ll arL' b&%Ld (In ihL audil Li'idLIiLL
i)bidinLd up ti) IhL ddiL ol'c)ur auditor's r¢rM)rt. I lowever. futur¢ ¢ivnLS or ¢undiLions mai. ¢Ju&' lh¢ ¢haril>' lo cl.
l() L(Inlinui il gi)ing L()nLLrn.
l..iiiluati IhL (Ikifiill pr¥'xnia¢ion, biruLlUrt' and LM)nicni i)fth¢ liniinci411 b¢dt¢mLnts. inLludin& lh¢ dis¢lii%urL's,
und 1shLihLr IhL finlIa] sLIILmLmts fLpfLSLni thl undLrl)'ing Irarwciions L%'LnL% in a mannLr thal aLhiLIL5 lair
Dri'Kniati()n.
Wi i()mmuniidli with ihosi LhargLd wilh g()vcmanii rLgiirding. iimong (IthLr mallir5. thi plannid sLI)pi and
iiminsk i)f IhL audii %i¥nIfLLt audii findin&% inLluding ani- %ignifiLJni dL.fiLIL'llLIL% in iniLrnal L(Intr()I Ihat we
idLniilj during our audil.
Ils¢ of our re)rt
-I'hi% rL'p)rt 1% mddL'.M)IL,IJ 14) IhL' Lhdrii!'% Iru%lL'LK a himt!. in aLL1)rdL wilh 11(n 144 1)fihL C'hariiiL'% ALI
21)1 l and T¢gulalion5 mad¢ under 5¢clion 154 vf that Arl. ()ur audit 14.ork ha5 b¢¢n und¢rtak¢n 51) thal mighi
51aiL 10 thL Lhariii's 1ru5lLi IhosL maiiLrs lie arL rc4uired 10 stale io them in an audiiorfs rLy)n and lor ni) i)Iher
purpi?5¥. .10 Ihc lu11¢5t l
The Baptt UDiOn of Wales- Statement of Financial Activilies for the year ended 31 December 2024 .Sia¢ementof FinancialAeliviliesforiheyear ended31 December 21124 (.urren¢y¢4r RtJtrirted F$ PriDrVeor Total Fund5 I"nrtstrirted Tkn1 Fund 2024 2024 21123 Inttsmt & from- tk>naiiiin% & l fAS.413 2.315 67.548 23.715 14.063 6$9.476 2Jl.S 1211.67J 3.736.621 In¥e%imenty Other 61.125 3fy) 2.779 Totlll incomt 7M.991 1114.479 J,81I7JJ7 .'xptndltu on- 461.468 I[.895 I X7.360 'rot41 txpendllurt 461.468 Ilk6J194 1%7J60 Nel 8ain% nn in¥e%LlllCIIts 68.265 37J95 ct lThcome for the ytar 34.4.718 .4.988 311.776 3,731.142 et mw4emeTrl In fund .7B8 -1.918 311.776 3,731.141 Re¢nnflllalloTr of fund%:. Total brouRbl forward .871.8•0 .859.322 J.731,l42 Total carrled forArd 2J17th)8 4.062.918 3,731.142 All activitie5 d¢riv¢ from roniinuing 0ratIonS Tht notes atta¢htd on pa%es 21 to 45 form an integrsl prt of the5t *¢touDts. 17
The Bptist Uttion of W'ies- B#lamtt Shttt x$ ai 31 Dtttmbtr 21124 2024 21123 Fixod assets -rangible a55e15 Invesmienis held as fixed assets io 1.005 3.551.436 3.506.403 InveStent properties 'lotl fiied 12 230.(KM] 3.781.553 3.507.408 C'urrent a58ety .703 2¥.120 232.474 Ikbior 14 38,7i3 319.414 C'ash ai bank ad in had Toil ¢¥rretyl I$¢1 359.7_58 262.307 ('rtir- mounts fllln% dut iihln ont er 15 158.393 138.$681 Triet current Lsitl% 301.365 223.754 'rh¢ toiAI net a%x¢ty of ib¢ eharily 4,082.918 3.731,142 'rhe I11 Trel %xety of ibe charil) fundtd bi" Ibe funds oftht <hrili'. 1 follow%.'. Re%lrlclvJ fund4 R<'¥iriilL'd RLQn1. l unds 19 1.865.310 1.8.$9.322 1.865.310 1.859.322 l.'nrt%trlcled Ilnr¢tr1¥t¢d Ro¢nrrt Fun 19 2.217.608 1.871.820 2.217.&J8 1.871.820 Total rharih. funds 4,0#2.918 3.731,142 The Tru51ee5 acknov•led8e their r¢5tx)n51bililie5 for complyin8 with the tEquirements ofGharity legislation M'iih re5PEd lo aicollntlllB reiords and the prep3ration olaiCOWIts 'rh¢ iharity Is $ubJ¢¥X 10 audit und¢r¥harii) I¢$1¥1. a1 th¢ wof th¢ Ch8n11¢5 A¥X aty411r is w pa8¢$ 13 w 16 RF'.N'D.WTIDITH MORRIS. RA. Iipiiil. IfTH .1 rwstLf Ik. C.l.I'NI>WR %. PRIDTr.AI' 1'ry51¢t ApPrOrd bv IhE tthxrd of tru51EQ5I 31 21)25
Tbe Baptist Union of Wales Cash Flow Statement for tht year ended 31 Deeember 2024 2024 2023 Cash tIow5 from operating ctivities Nel Lash provided by operalll ¥tiiitics as shoMTr belom. 174.861 C&shJ7owslrom l•vesil• a¢ilvliles Initt¢il r¢¥eiv¢d Oiher In%'¢&bn¢ni Inion. In¢ludm8 i¢nts Pr(K¢¢ from sDl¢s of Jnb¢sEm¢nts 12.296 16.377 60.627 5.454 53.Y67 Purihaseofproperty. plthi 8tyJ equipblthll Nei ¢a$h proykltd by ltti'titlts% •¢tfvltk$ 188,187 Overall cash provided b). all atti*ititS 2J2A79 C.'s$h mov¢m¢nt$ L'hange in and tqtsivaknts from iLlii'iii¢s in year ended J I l)Cicrnbcr 2024 86.935 232.479 C'¥h Dnd ¥J$h ¢4uiv¥l¢ni$ 4t l 2024 232.479 C'ash It b#thk Ind In hattd less ow¢rdr#fts 4131 D¢etmb¢r 319,414 232.479 19
Tbe Baptist Union of Wales Cash Flow Statement for tht year ended 31 Deeember 2024 Reconciliation of net inc0e to nt¢ c45h now from op¢r8ting activities Nei in¢om¢ &q in th¢ Siatrnni of FirJal Aiail"Ilits 351.776 3.731.142 Adjusmientslor:_ DeprL'kniatlOll iharBCS wri vl'invrslnKn15 Nei unr¢al)%¢d gain4 on Ini¢4imeni D¢vid¢nits'. Inr¢&i and i¢ttts i<S¢ tkir¢gxVlln¥r¢as¢l ID Si Inir¢a4e Ill debtrg In¢r¢gs¢ In ¥r¢ditors. ¢¥¢ludin8 loa d(wiwns 2,(X)I 798 1105.6¢A)I 92 128.120} 38.568 (3.39$ 7381 19.82$ 1230.(XX)I Net tash provided b). oper*ting xttivilits 174.K61 An#ly$ls of atsd ¢•$h equlvalttsts 2024 2013 C'&%h In hand al for th¢ )vr ¢nW 31 tkLrmb¢r 2024 319.414 232.474 TotAI cash and rash tquivaltnts J19,414 232.479 Analysis of ch8ngt In net dtbt Ai sro Ai end 7tsw.¥ o/.ve•r 319,414 Lash Loan5 falling due atler more than one year !3?.479 ¥6.1334 Total 232.479 75.578 308.057 20
The Baptist Union of Wale5 Notes t& the Accounts for tbt year ended 31 Deeember 2024 l AcCoUting polities Pulicies nlalivg lo iheproduchon ofihe aecoHnts. Basis (bf pparAnOTh ce¢buntinE tonientiOD The aLLounts Ilinan1aI statLtIlLTisI haic bLYn prepared (XL the acCruS basis. llTrderthe knsiorical cosi convention And in accordance with th¢ Stat¢m¢rti of pro11 A0[1ng gnd ReIng b> Cbariti¢s pr¢parirtB their a¥¢ouni% In acwrdance w'ith th¢ Rcpurting SiandJTd JppliiablL' In Ihc Ilk and RLyublii ofirLlan¢J IFKS I(b21 issucd in (k.10 ?019 and IhL' F-inan¥al Reponin8 Siandard appliiable Jn the Unjtcd kingthm aThd Rebublicof trc13nd IFRS 1021 and the Charitics Act 2011 and the UK CJ¢n¢rall) A¢pIed prlitt &% li appl4 l Ja]huat? 21)19. The aLLOUllts IfinDniial sthtcmeiiLsI been prepared io l'e a )rue and fairf I'iew and haC dLyarted from thc Chanties (Accounis and RLy)rL%I Res111{)4 2(K)8 onl% 14) ¢xtenr rtyujred 10 prthith a'tyut artd fa I ioi, ThJ% dep4nur¢ h&% Its)1¢ fnlli)w'ing AiivullLinB and M. C-han1K. s1c1 of KciummL Praai¢L' appliiablc ¢0 ihariiies prL'pJnng ihLif aLLuunls in a¥Lordan¥¢ 1th ih¢ Fin1&1 R¢rM)rtin8 Siandard appli¢abl¢ in th¢ Uk Rcpubli¥ ofir¢l8nd ITrRS 10?Iissu¢d iii 0oob¢r 2019 raih¢'r Ihan Ibt A¥boiilliiJ>g and ReN)rtthg b). C1wilie%.Siameni of Rtionmnended Pra¢iiee tffe4livt from l April 2005 iihiih ha siniL' bL'n ii'llhdrawn ThL f¢nan¥ial.4l&temLnL% ar¢ pettI¢d sierfin& th1¢h (¢110n41 curfeJKy and rounde4110 the near¢i pound. 'I'hLfL JfL tKi InafiriDI UThknertiitsLies aknur the Charitys ability IOL4)nithue. RL4k% flltu 'rhL' aLknOUnls havL' betn prcpartd 8 8trin8 basi% and 'rL$l¢¢4 ix)nlimi rhtsi IhL'fL' afL' ni? kL) a4sumpiii)ng L()niLYnin8 Ihe lulurL'. ond IiihLT kil S(lL IifLsiimaiiuTr wKcrtllim) ui the r1n8 dllic lh have a %J8nifliani ri%k iil'iallsin8 a InaiLriDI ailju%im¢ni Ih¢ 4Jrryin8 am( uf and Ii•biliiKs M"ithin ih¢ %1 r¢Krfin8 p¢nthl Ptsllcie5 111% lo caleKorle5 ofinconK andlncome recoKnition. C'&te%orlts of Incom i¥ ¥gt¥Borixd as IM¥thm¢ frtmn ¢x¥h8y tsww¥'liOnS l¢ontr4¥1 in¢> aNI In¢wJ¢ fr( nX¥hange transa¥11$ IBifts'i. InicsimLni inknomL and oihrr Iniom IncMe from exchanpe trAn¢tion Is rciLYI'ed b). the<harrt%' for8ood4 or%er%ryces $upplied vnder ilmtrath or H'hcre entiilcincnt Is bubJL¥t l(Tr liil1illill¥ PLrl()rmanL rclatLIl iwnditjons '1Th¢ ¢hani) Tu¢iif5 is appryixim#i¢11 ¢4wII In 1¢ lii th¢ 8lK)d¥ iir rviGEs Supplied by the chatily to the put. lthrorne from tra5(tion 15 ihe chanh" tEfelVe5 iilue froTn Ihe Miihoul prlJing<qUal value in exihangL. and IniludLS donatlLMS of nionel. 8(JS and 5ers.ices Itttl} lthOu1 gii'in8equal alue in exih3n8e 21
The Baptist Union of Wale5
Notes t& the Accounts for tbt year ended 31 Deeember 2024
Income reropnition
Income. h¢ther from t¥¥hange ¢>T erythinge IMsa¢iths. LS [tiolS¢d in thesiaiemenl of finanLial a¢livJljes ISOFAI on a
receivable basis. when a transadion otother eveni Te5ults in an Incrr&5e in ihe ¥harity s ot 3 reduction in its Iiabiliiies and only
hen the charity has Itgal tniitltmetti the ittiome Is probable and can measured reliably.
Dividends Dre Dccrued when ihe shareholder's ngm io re
rLd1*¥1{)4Ld 4 ¥()niin8&nt uniil lh¢ ¢riiirio for Jniy)mi rnxM)8niiwn arc Whiyi a It8a¥y 1% %ubJ¢i1 111 Ih¥ Intl1 lil'a Ill
ienthni. th¢ le8Y is reLoBni5ed As Into Wblil thdeath of tht lile Khr. Irii 1% dlwbiful th41 full Kiil¢m¢ni ora d¢0T "111 b¢ r¢¢thv¢d. an adJum¢nI 1% mudc 10 r¢du¢¢ lh¢ amount lif th¢1¢8a4> debtor thnd le(Y Incomc Ihan ch¥8in8 the adju5thth &sex1¢Ur ith th¢ Sialtmcni of FinlI1 ALTivilies Donated faclllties And 8tr4lce% Ih)nt¢d flx¢d %xe¢s aY¢ ¢08n¢5¢ 91 th¢ f•¢T ialu¢ hll aT¢ r¢¢015¢4 as (141natiM Inii)m¢. and d¢b1 10 Iixed a55EIS. lknnattd th&t not Il¥ed t1% 8r¢ for a fair %glu¢. wilw il is impr8¥i1¢al io T¢liably m¢Bsur¢ th¢ v8lu¢ ofih¢ In the abs¢ni¢ of an) dir¢¥i ¢Vi(kn¢¢ o(faii v91u¢Ofthm¢fj g(MMts. •lu¢ is &nv¢d frtmn of th¢ itrm to lh¢ donor OT. Ill the ca of 6ood5 that arE¢Wed lok501d. ¢Aimad TE5ale valuE aftci¢kdu¢lingani anlicipaled w5ts of5ales Tfit 1% Impra¥ii¢abl¢ io n&Sur¢ th¢ fair %alll¢ of 8(Kxl% dwat¢d for 1¢. OT th¢ of v81uaiion ouiwei8h the ben¢fits. lh¢ donaied So45 are recoBn15ed in0¢ 501d. Hiih an equiiileTrt anK>unt 1xingwid a5 an <wen5e Th¢ lif giMiJ5 th)n&trd fi)r disthbution io b•*fi¥ian¢% i% d¢¢nthl io TrK the fair ¥alu¢ ()f Bix)d% r¢¢eipt Wh¢n ih¥ gix)d¥ are dislribiiled Ireel? or tor con5IdEMiC. Ihen Ihe carr)"ID¥ atll1 Is adjvsied at ihe litne of sale. io Ihevalue at the point of distribution and the adJusthMt is sbOm C051 of d¢wrions made
The Baptist Union of Wale5 Notes t& the Accounts for tbt year ended 31 Deeember 2024 The iarrying am(X1 %toik h¢lJ ftsrJi%tribuiion 1% &i%%ed for Impirnlobi Ji the rep)ning dAit. All donatta w)Jq ar¢ tL'cvgniscd a5 dall0 InLoinc. and dcbId w itading sriKk" tradin8 siK. Is subsquL'nily 501d. ur app[nalCd w MCLY an expense. then the iarryin8 va]ue olthe StK. is reco8nised as an eNpense. In accordance u'ith the SORP. 8LN)ds donfjied for distiibutio ifr hen¢li¥Jari¢%. (Jr for b) the hrItI ¥¢ inilud¢d th ,1¢.•5{ddnFVXI1n%. CrfM)d% darJat¢d f(>rrLsalt gr¢ In¥luded in 'Incomefvm oiherirad1ngacil1s. The Lost ol-any stoik ol"Boods (k)nated lor djsrribuiion io beneficiaries deemed io be the lair value of ihose Bifis ai the iiine ol"Iheir rtLiPt. Ifth¢ h¢ld ay¢ 10 b¢ 01¥d (r¢li or (or a nomill8J %Ider&ilO1. then the ¢aming amount 1% suhgequ¢nily adJtea Iv rrncil ihr IvL'r vl-dc¢nKd LUSI adJw>rcd foran! loss ofsmi pKrtLMlial rcplaicnKni Lust RLTlaicmcnl 17%1 1% ihL L'(1>[n7l Lost Iniurred Il'thL iharit!. il'as io rcplaie the ser%'icc wefflial of the dOnad B¢MMls ai its expense Jn the mosi eiononiii Inanner. DDtti¢J serbi¢e% attd f¢lliti¢s IiniludirJ8 ¥ond¢d sthty8I ofprop¢rtyl in¥luded tn th¢ a¥wunig on the basi¥ ofih¢ i'alue All Jtsnad s¢ni¢es and fo11111¢$ ar¢ T¢¢O8ni%d as th)nl¢ in¥Y)DK rettiirdlpro&¢dtd the vaJu¢ of the 8ift can be Inea$ured reliabl)) and reiuBnistd th5 an exrrtnye wirh in equivalLL slve. lethbtrhlp ulK4trlptloth 'rhc InLumc and any alt£d tiift Aid or other rcfund from a mcmbcrship subscnptjon rcccivcd b> ihc ihariik In Ihc nllturL' ol. 8111. 15 &iUnt¢d for (M Ik sam¢ b&%is as a donaln. 'rh¥ Iri)m J mi1n'rShiP 4uh%4iirAiw r¢4¢N¢d by the ¢hari¢> pur¢ha¥¢% Ti8hi io scrviw& ix bciiifii% 14 IL,l8n1¥td a4 InLcin fNxn hl[liabl¢ aLll%'iIits. InvesEmcnr In¥omE Is rt<oBniscd ll receivmble bA%is ind i% led mof fce5. Pullcies relailNK lo weNdilure Koods ond5erylcesproi'idedio ihechorlfj,. Rrcrynition of liabiliti¢s e%p¢hditu A liability. and y¢lakd enditre. 15 Wi5ed * k81 orconst obliBaiion cxi5ts as a sU11 of# pa51 ev¢ni. and hen li 1$ morL Iikeli Ihall nol EhJi a Eransfer o[ecoKn1C knefits will Ix reqlliTed In settlemenL and Ishen the amouni of the IigAiii)n ¥an b¥ m¥&%ui¥xi w r¢liabl! rstimw4d. Liabiliiies arisin8 from future fundin8 cofflmirmenrs and collstruciisE obligalion5_ 1cludin8 rrfon3llLe related 8rants. where the tim1ng ar the ami?unt iifth¢ fuiuTC c.wndiiwc r¢quityl ¢£iile th¢ obligatliin att un¥enain. gil'¢ ri ti) a pri)vi%ithll in ihc aLLiiunts. .hiih 15 r•iewEd al ihe aCU¢T8YgUT¢d The Prn751Dll 15 IreaSed lo IllCTea5 in liabilitie5. and 15 d¢cTras¢d bi. the ulilisaiion of ani. provisLon wirhin the per. and M"et5td Ilanl" provisLon is Th) Ion8er required. These moi'emenls 3re chBr8ed or ¥r¢dit¢d to th¢ r¢sp¢¢tLI'¢ funds 2nd &¥tii'tiies to %%hiih th¢ KrfObiSLon r¢lat¢s. 23
The Baptist Union of Wale5 Notes t& the Accounts for tbt year ended 31 Deeember 2024 All¢4 ¢osi% 10 ¢tlS DIMI thai atr yiifilI t¢latrdw a¢olio¢*d kn th1 11,],. Shar¢41 dir¢¢i ¢1 and %upp)rt ¢(k%L4 ar¢ apportioncd txMTcn a¥iisilJcs. The b&%is forapportlOfjn( %4hiih Is appl¢(L •ttd pAy)rtiw•tr to tht¢it¢iiJtL%¢aJlttS. IS.. StaffiTrg- on thc basis oltime spent in <01M£( an). paniclliaractiviti. PreThi5ey related r05t5- on Ihc PToPDni0f IIoDr aTca CUpd M. a particular acriiryry. 4un %pecifir sUPPOrt ¢0515- on thr basLS of thE U5aBcofrcsouriCS. ill tcmBof Iimc thken. capaLiry U5cd. request mddL' or othL'r mLdSufL'S Lylim#lion te¢hniquu used In apwxlioning C1>5r5- give ddails Vi)lunletr% In %4iih I.SoRP. and in rthwiii(m of diJTi¢uliits In pla¢in8a mOY valu¢on th¢ n¢buil01) from OlUn1¢cr$. P#llc'les reluil#K io Qssets. 114blllrfes fjoilprovlsl#•s moffers. Ixtd.l.%xtl lTr%¢Alm¢nlA F¢¥¢d as%¢1 Inlts¢nL$ in d shpr¢$. w4d¢d Ix)nds. mv¢sD)Kni pTwKs and similar arc Iniiially ai ¥o%i upun
L4uitsiiii)n and it thtlr i'alw ai the balani* shed 1¢ tht end ofthe f8181 rIod. In%e4iineni propLYii¢4 are noi
dcpriilQlL'd. l.ixL'd &i%ei in unli%Ecdcquiiics HreshDWTr 41 thE bHIHncc SI daic thc bcsi ClmA of thcir markcf vEluc. whcrc pra¥iiioblL IV'r %'aluaii()n IL%hni4¥¢5 ar¢ 4wsid¢r¢41 tyDr¢liablL' or Mkr¢. Jn Ik 4)Inii)n of thi IfiJiiY&. lh¢ ¥ii%L% [)UllVLi¥h IhL benElil¥ lil ik. vf Ihc Ihe in¢meI bs inilu&d ai C05L a [n"le is uThdcnok"en al ca¥h yL'ar cnd as lu whL'ihcr lh¢ &s%ei.shi>uld bc wri¢¢c duwn All gains on Iixtd 15$¢¢ iM'estment5. tAthether reajised or wli$¢d. includ in rth4" J14 ofiht si#i¢m¢ni ofFinan¢ial Aciiviiies. TQn¥lbleJLYedIStts .1 #n¥ihl¢ Ii%¢d orl rn¢abur¢d at Ih¢ir 8Inal &8lu¢. orsubyqucni rci•l¥¥iion. or if dMad. as d¢s¢rib¢d akn¢ Cost alu¢ InLlud£s all knosts clnded In bnn8in8 ihE a55gi inio its inLen&d rkin8£all1on D£prelatiOn ha5 bEen prid ai Ihg f0jltmg rnlgs loiiyrte otrthe Th¢5 totheir aniicjpakd residual alue overih¢ir eslimDled useluj lives Plant and Machinery 33.33 % 5trai@hl lie A rc¥ular annual Y¢%'io%"vfih¢ lik¢lihtKMJ ofa& impaimmii Is w. Sto¢ky Trork in progre55 Stock 15 valued at the lowerof c05t Tr115uble i?IuE. Debtors Deblois are m5Ted al the ttcovetable ll()lts ai the balances1£1 dale. 24
The Baptist Union of Wale5 Notes t& the Accounts for tbt year ended 31 Deeember 2024 C.rtdilor4 proii%l&n% sh iredir$ art m¢asurtd ai iTansaLlion pn¢eiiihiLh is usuajl! the Pn¢ti IDaDs i)ther finanLial liabiliii¢% are Inilialli Teiognised ai transaLilOTr pnce Trei ofaTr)" IrJiisacEM)D costs Jnd subsequenil)" measured ai aRnIsed cosi dctrnnincd usin8 the effeitiv£ terest method Ca%h h¢ld b¥ th¢ hrIll 1% inLluikd th¢atwi Tha1. held c4)und li the iewtnd Battk. ban¢. trer In ctr¢dii or Crdrail. arc sho%% al Ehc arrKmlS prqKrt)' recolled rothE bank stalCNts. P¢ttslons- defined ¢ottlrib¥ilob t¢S 'rhe ihariiy OPLYaEes a dcfinEd (0Mbl0 pern51 s<1Me. Contnbuiions are chllr8ed io ihc profil And loss occount as thci. bccoine p4yabl¢ In a¢¥ordani¢ '1th th¢ nJl¢softh¢ s¢h¢m¢. 2 Idiability to taxation 'I'hL I rw%iL) lonsidL'r th41 Ih¢ ¥harii)' S•1i%fies si% in Parngraph I SchL'Oule 6 of th¢ fiiianke A¥1 2nlO for I IK Lorpiruiii)n lax piirp1C$ ALLxirdinsly. Ihc L'harii? Is wx¢niiallN cxcmw from rllxaiw)n in rc%rrtil lif inLXimC iir Lapiiol Bain% reicived wiihi ¥DtI8()ri¥% ¥o%'¢r¢d b), ¥hapt¢r 3 p4n I l of ih¢ c.0lIn l¥x A¢t 2010 or s110 256 of lh¢ 'l'8VIIOII Ill. C'har8iAhl¥ (jain% A¥1 1ty)2. 11) IhL' C%ILYlI thai ¢ni(nL' are am>li¢d eXLI1ve)> on the s]K¥ifi¥ LharithblL' obJ¢knLg of thl ¥h#ril% aiid liy i)1) {IihLr 3 Ivlndlng up or di5501utlon oftht charlty Ir upi)n windin8 up ()r di%iiluLMin Trf the ih8ri¢) rhLYC rcmam an) a&SCL%. after thc $a¢i$f8illl)n lif all dLhis aiid liabiliiiL'4. IhL USSCI% bj Ihi fund 5hll b¢ Iransftrr¢d iosom¢ oth¢r¢haniabk bod> ur Wi¢5 hawiN&siinslar obj¢¥ls Iv IhL ¥hariiy 4 Net surplu5 before In ¢he financial )'e#r 2024 2023 ThE nel surplus tKfore lax in the financial ) ISated ufieTcharBuw."- Deprecioljon ofowned ljxcd &ssets Trusices. remunerDIM Penbioll LOSIS 2,001 798 20.701 7.333 3.622 18.455 Auditors. remuneroijon 14.060 25
The Baptist Union of Wale5 Notes t& the Accounts for tbt year ended 31 Deeember 2024 5 Invesijnent giffts C1 it•r (.rythI ier K<sirirf¢d Fund5 trrellI y¢Ar Tot1 Prior l'ear CHrreAI Yeor FMnd5 2024 2023 IInrealisedgains/llossrs) ffjndwit4ll¥ domw ofconying Listed inv¢simtnts. Unr¢alis¢d 68.265 37.395 105,660 110.66. Total unrtAli5ed gAiTh4111055eg} tlc Tot1 11cd and Rain$ Prloryeor Priorl'mr Pmr I'yr Prior I'r•r Rt51rid Tr-und% 2U 21ttJ l.i&i¢d inv¢sim¢nis- Unrealis¢d 63.292 47.373 'rot¥l wnr¢8li¥¢d R81Th{lo%l ¢ 63J92 47 J73 I ID.664 'rotal rellllxed Hnd unrealts•d 6JJ92 47J73 6 Stff ¢o$t$ and ¢molum¢nts S414ry ¢0sts 2024 2023 CJrns SDlaTies exCludiB Irusie Emplo!er'% National In5uraniC for all ststT Emplo!£r's operatin8 Losfs oldcried Lonirihutliin PLn%li)n %ihe .1 ru4lLLS' RLmvnLraiivn as dthoil¢d tn 8 Other bcnefi15 paid EO itUStees. as thiailcd in nore 8 ??8.865 21.000 88.8R6 9.651 9.957 3.822 20.701 8.498 Total salarie4 wages and Telattd ¢05tS J2OJS1 IZ6.571 NllMbe ofJullfime ewloJ'ee5 orlulliimeequirolemts 2024 2023 'rhc numbErofioial sTeMpl0)rd in lh¢ w15 The average numbu of part timestsff empio)'ed m the )'car The average numberorru]l ume 5tsff erylo)"ed the year 10 "rhc dctails of rLinunrraI paid ¢ottU51cr5 15show ID 8 Nu ¢mplovtt5 tt¢¢ivtd Lintdutrtnts IcxchNJin&slon cl) ID cx55 of £(rf).(XJJ pcrannutn. 26
The Baptist Union of Wale5
Notes t& the Accounts for tbt year ended 31 Deeember 2024
7 D¢fiD¢d eontribution ptnsion s¢htmes
The iharity operates a defined contribmion pe510 s<1. thE costsof wl¢h are Sh( alx)N'e
An). liabilites llnd asseLS asslatedwlth the scheme are shown WLy¢kbthrS and
The Baptist Union of Wale5 Notes t& the Accounts for tbt year ended 31 Deeember 2024 10 Tanglblt filed Atsets CNrrenE Yeor Plant & TDtl Ai l January 2024 Additions 1.803 1.80.1 Al 31 Ikcernbtr 21124 2.916 2,916 Deprecimlion 798 2,1 79¥ 2.001 ChDf8c lor Ihc >car Ai 31 Dtetmbtr 2024 2.799 2.791) 4t1 book i'ilue Ai 311)e¢ember 2024 Al 31 Iketmber 2023 Prlor Yeor Plant & IIAehlntry Toll C'o%1 Additions 1.803 1.803 31 December 2023 1.8QJ Dtpreei4tion Char8e for the year 798 798 JI December 202J 79B Tltt book valut 31 December 202J 28
The Baptist Union of Wale5 Notes t& the Accounts for tbt year ended 31 Deeember 2024 I I Inve5tment5 held as filed a55ets Listed Toial C'arrying %aluc5 ofiThi'estmeDts Ai l January ?024 ReialuaEion 31 tkcember2024 Dlspotsals 3.506.403 105.660 160.6271 3.5Q6.403 105.660 160.6271 Ai 31 Dtetmbtr 2024 J.SfjJ.436 3.411.436 12 InveAimtnt proptrtlts 2024 2U23 Ai l JJnuary 2024 230.OLK) Ai 31 De¢embtr 2024 230.1101 13 & Il'ork In prreI 2024 21123 Slnck% before dowrLS 1,703 AAolv.Fl.f ofihecoffj'thw vulutoAsMckn 4vidwopk bi. #rtlvliles Sftschs 2024 2023 Acliviry R¢liBIOU5 arliTriliE5 1.703 29
The Baptist Union of Wale5
Notes t& the Accounts for tbt year ended 31 Deeember 2024
14 D¢btors
2024
2023
Prepayments and nccrucd inco
Oih¢r d¢bior
2.830
35.903
3.676
24.444
J8.733
28.120
15 C.reditOTS: amounts falling due 1th)n one yer
2024
2023
2.%.2?7
Funds held on b¢hallof¢hllr
The Baptist Union of Wale5 Notes t& the Accounts for tbt year ended 31 Deeember 2024 18 Particular5 of how particular funds are Tepresented by aysets and liabilities At31 December 2024 I'DrulriEIEd ruDd5 Fund5 TanBibl¢ Fix¢d.4.%%eL4 Fi.Teda5sei I¢$1mentS .797.-135 ?30.(M)O 1.753.4X)I 3551,436 230.00 lEstmentpr0PertieS Current Assets 742.952 116.806 15.3971 ls%J9J 2217118 1868JlO Ai l Jinulrb 2024 und 'ranBiblc FLxcd plssrts I.¢X)5 Fi¥Ld asset Inv¢yull¥ML% 1.729.270 .777.133 J.1116.4(13 Z62J(IZ urrLlli 85.491 1352661 (3.302) 138.q68} lJ171JlQ lJ1I9J22 3,731,142 19 C.'hxnge in totgl tsnds ovtr the year showfft in Nole 18, An*lystd bv Individual fund5 r&rfiEd 21124 R¢¥¢nw Pwids 345.788 2317.608 Tot1 unrestrirlcd d¢si¥Thaled funds J4.5,785 2217.608 31
The Baptist Union of Wale5 Notes t& the Accounts for tbt year ended 31 Deeember 2024 RgstricfyedfuNd5.' Minisienal Fund 1342.871 1$1.262 166.948 229 The Catherine & Lath. Grllce jam FllTrd ?.2 All¥iliary' Fund for Retired Welsh Bapt MinrS Tbt Il%lOn M¢m(*1 Pres¢rvgti( FWMI {6.3541 {1.2441 'I'ot#l mtricted lJ65Jl Total charity funds 3$1.776 4JI82.9l8 20 Analysis of movements in funds over the year 85 shown in Nott 19 EInditr¢ IA)SS¢S 2024 Ilnrc¥tnLlcd Rc>enuc Pd5 738.wl 1461.4681 ReFrrl¢redlMNds.'_ 62.451 31.918 2.432 'rhL L'aihLrinL &. l.adl (irair Jamts I.nd Illlxiliory l.und for KLtir¢d Wcl%h 114)LLS1 Mini%iLrs 16.6091 2.219 115.9631 3.045 'rhe II%Lun lLynor1&l PraerYllrK 67 (1.244 814A79 3$1.776 21 Details of tran5fer5 btttveen fund5 111 the vear as 5bown in Nole 19 Theiron.Tler5 showK IA 19&bth'eJre.'. 2024 2025 Yti traTh5ftrs 32
The Baptist Union of Wale5 Notes t& the Accounts for tbt year ended 31 Deeember 2024 22 Tht purpo$¢s for whi¢h thr funds ¥ d¢¢xiicd ill lloit 19 held by ihe ¢h#ri¢v •rt'.- Unr4rythctedoKd desi¥noledfyHds.- The Bl.TW Cnu8] Fwxl ¢¥L%L% f[L& all the of tht Ilnifrn 'ithOUt rr51nciion Th¢ BIIW Cietterai Fund ReyintL¥edlunds.-. Minislcrial Fund The Minisiui8J [ is ¥ pTr)%'iJ108mthL%teri and hom¢ mission grants. The Cau¢& l adi GraLY Jam¢s FondItIon fund 1% & rc%iriLlcd fund hIknh has arisen Irtmn gilES Irom ihe Latherine & Lad!. Otacc Jamcs Foundaiion lor ihc r¢stri¢t¢d pwrwof b¢n¢fitin8 indii'idwls withift th¢ d¢JMinallOI7 'lthe Caihcrine & l.ady GTabcJamts Fund Aiililiary Fund lor R¢tired Il'¢L4h BAls1 Mini%l¢rs l)¢ Awwli8ry Fw41 for Rdir¢d Il'¢lsh B¥piisi Minis*rs provid¢s financial ass•¢¢ fty Mifed Il'eL%h Bapii%i Ministrrs. The I10 Mcmorial PreserlI0n is a TC&tnilcd fUd supplemenlcd by Bn aWIal ¢o11¢4liOn for th¢ pwrA)s¢ ofmainicnAn¢¢ and r¢paiTof th¢ Ilsion Ineinorial on the c?¥¢[. Thc Ilsion Memor1 Pr¢s¢TV•1n Fund 23 LlltimAte tontrollin% pArty 'I'h¥ ¥h)riiy is und¢r Ih¢ of 11$ Iwl m¢mb¢rs 33
The Baptist Union of Wales Notes to the Attouthts (or tbt year tndtd JI DttettLber 2024 24 Donititsths, Grants Ind LegAtits (rren1Yer Ktstritled llDds Prior I'eBr L'•rtStridtd Totsl Funds 21124 2D24 2023 Donal15 Trd %irts rrom iTrdii'iduly PersonDI. AssLKiaiioTh & Church 8ifts 2.21M) 221M Dona¢ions and sundry i¢ww 413 2.•JMI 413 2th1J Lwrrefil ve4r C'urrenl vNr Iltstr5tle C'rrtTrt )eir T1 F'und 2024 2024 2D24 2023 l.e%A¢le% ry¢eiihle PrL)v¥¥d4 Imm ¥l(li¢d Lha[1$ 109.409 109.4(y) Ihyn. M*5>SWartha &4uirtd unknTrusi ?JO.IM)O JJ9A09 JJ9.409 'urrelll vur ('•rrtTht ie4r Yalal Fund Fund% zo 2014 IQ24 23 RtieTrue Rranli donaiion% from Tron publir Ipoditl We15h B3pIIsE Union Corwion Limitcd 82.)81 82381 25.990 Total privile 5crlor rel'e¢ 82281 82Jl 2.$,99
The Baptist Union of Wales Notes to the Attouthts (or tbt year tndtd JI DttettLber 2024 ReTreTrNe grats and from non puNi¢ 1wyjl Ilnrludt Gin.4id dollJlion5 Irom 5ub5idi4rie51 PriDr l'ear PriDrlur Prior I'e4r Prnrl'ear Restritl¢ FuDds Totsl Trund F•d 2023 2D2J PrlDf lear 25.( 25.990 (•rr1 Yt•r I'llmtwlrltd Lvrr¢lli vr RntTki Fund (.'¥rr¢Thi y¢r Toil Fynd% Prfor I¢oT Z014 2014 2D24 IQ23 %ptin%iirship- FLxlesiLgiaj Voil sponiorAhlp lJ¢ome ('rr¢Thi >ethr I1 Punds Prfor I'¢Ar l llre%tvlrltd lkntrlritd Fund 2OZ4 ZQ24 1023 Itrnbershlp iuhKrlplloTry ay domllon 127.450 13.650 141.1(K) 3.$0 C.-urrtlli yur Rtstrkie Punds PAor I'e&r Fynd 2024 2024 2D24 21123 .4MIlS*r&0Tr rtts rtctived Administration f¢ts rw¢iv¢ 89.073 89M73 22.075 89JI73 89.073 22,075
The Baptist Union of Wales Notes to the Attouthts (or tbt year tndtd JI DttettLber 2024 Cryrrul Yur l •rtstriti¢d (TTEI vur Rotriti¢d FllDds C•rreTht Totsl Fund5 Prior I'eaT Tol31 Fund5 2024 2D24 202J Transferred from Chariry numb¢r 1154855 3.688 706 Total TrA Tryftrrtd from Bl'w j$,2U6 TraDS(trr¢d from Bl'll. Prior I'tlr ADligis Pvknr)or Rt%tr5tied 20 202J 2ts2J Prlor l'ear lJ121,471 Totthl Donaiions. C•rnnts and Le8eies TotHI Donations. Grnt$ and Legacies I4.1) 6$9A76 J.736,621 All Lh¢ d(moiion.% Bnd Bifts in the prmx lear tr¢ unr¢$rri¢. ReAtriY Fundi PrlDr rMl Tr-ynd 2D23 PFivr)'ear 2D2J 2023 Total Dongtions, Grants gnd Le%aci¢ 1,914.140 lJ21,471 3.736th21 2.4 Incomt from ¢h&ritoble tlivititJ- Trading Actiwilits CMrreAiyÉur C.-urrenlvMr frfor YeBT l •restriried Totsi Fund Totgl fund% unds zo ZQ24 2023 Prima prpose anrillin" Iridi Sale ofgood5 and 5erYices In aiiordance 1th th¢ ihariW5 obJ¢Et5 2.315 2JlS 9.016 Ttl Primari pllrpo aDd aDcillrY tradiDg 2J15 9,016
The Baptist Union of Wales Notes to the Attouthts (or tbt year tndtd JI DttettLber 2024 26 Totsl IDCOtiit from ehariiablt ctiiiiits L•rMI Ytr C'urreni yr R¢%twl¢i Fund¥ Prior l'ear Tolil Tr"und CMrreAlyeor Tothi Trynd 2024 2D24 2023 11)141 incL)me Lhariiabie tyadin8 2J15 9.016 Toial fr¢bm ¢h•rilble ¢iiiitleJ 9.016 27 Investment income ('¥rr¢•i yelr l llrntvlritd ( urweni vvdr RThErlri Funds ( rrtht wtr Toi•l Fund% Prfor I'¢Ar 2014 IQ24 1023 Prop¢rty R¢nial In¥om¢ Ilank- Ilre$l Rc¢¢i%tsble 4.024 8.833 14.691 4JI24 12296 3.463 I'oi#l Inieimeni Ineomt 67.vh 1216.673 Rtstrltie Punds Prlor l'ear 31.lJ7 28.284 28 Other incomt and gainj C•nTO1 Tr l MrtFIr1ed dj CtsrrEni vtr C•rrrAt Priur I'rllr Tulil F'unds CtsrreAiyeur Trundi 2fy24 2014 1024 1023 OpLrailon ¢(miribviivn fwm t*1 COIF rllnds 22Jty) 22JOO Sundrs'other inome 31JO 894 OthEr charitable ar11117¢5 1.885 Ttl fiiher Incomt 2,779 37
The Baptist Union of Wales Notes to the Attouthts (or tbt year tndtd JI DttettLber 2024 Other intomt and gAins- Prior )tgr Anatysis Prforl'tr I'llre51wiNEd ds Prknr I.r Pr&)r )¢ar Toi41 Fund5 Pnor Yettr Funds 2D23 Sundrs viher Inbome 894 1.885 Tulal ulher income A5 2.779 2.779 29 Exptndlturt on tharltablt ttlvities- Dlrttt spehding •rrrni y¢r l mtwltltd d% Lwrrtlli v¢r RntTlri Fund trrthi yer Toi•l Fund ToiAI CMrr¥ni Year 2014 2D24 23 (ywj% wagi& and tsaluri¥5- chaTilabl¢ 203239 12.824 216th4 77,837 l.'mpli)N¢rs' Nl Charitabl¥ aciiviiii's 13.878 lJJ78 9.573 9.473 3,491 rd%LI and su-1%¢L'ntL Lhariiabi¢ 6.450 4.724 2.909 OthLr donali<Trn and subriptIonS 27259 3.755 Jl.1I14 2,746 Total dire¢t spending 26OJ99 21JD4 2MI.71I3 93.2911 Pthr)t*r Tulil Fundi Ke4trkiEd Fund% PFior Yeffr 2OZJ ZQ23 Gross wag¢s and 5alarie5- charitabl¢ 72.810 5.Q27 777 Emplu%ets' Nl- Chdriiable dLIjVjlie5 DLfinLd Luniribuiiort rKrtsiun 1051 6J15 6Jl.S 3.491 3,491 Trav¢l and Subsisl¢lltt- Charitable 2.748 Oth¢r donation and subKriptions 1.470 1.276 2.746 Total direct Spending B2a 54.Z47 93398
The Baptist Union of Wales Notes to the Attouthts (or tbt year tndtd JI DttettLber 2024 30 Expenditurt on charitable a¢tiTriiies- Chariiablt irading Cryrrnl Yur I'•rtstriJ¢d F•d (rrentYr Restritl¢ FllDds Current >ur Prnr Year Tatsl Fund TotBI Currenl Year 2024 2D24 202J Cost for PTitvTh purw¥ irnding- Including mover1 in Siixk tor gLN)ds 12314 123J4 9,879 'J•il thAriiN¢ trdltyi cosix 12.$14 9,1179 Prknr I'er Rrttriri und Pr4br )ar T1 Funds l •rntviritd Yertr zou 2013 Z023 Cosi ofg(Kxls li)r primar%. purws¢ Iradin8- InLliiding mi)vLmLI in lixk for 9.879 9J79 liblal th•rliAhlo iradiTri t1 B2h 9379 9,1179 31 Expenditure on charitlblt actiTpities- CrAlbt funding of activilies C'•rr1 Ye4r C-urrenl vmr RntrStie Pund% ('•rrtTrt )eir T1 Fund Tolol CMrr¥ni Year 2024 2024 2D24 2023 Grants iowards Cou$ Gran15 10 ChurLhLs wilh Mirbislers Grant lo Br¢conshir¢ pnij¢il BLtKwi>lLnt grants to rLiirLxl miniblLrs and idow5 1,780 34.124 23.062 3.168 3.798 J7.922 23th2 19.500 Total grantrniking c0515 3.79B 78,466 822(A InLliidLxl in IhL Wdni 10 Br¢conshire projLLI cosl of£13.(K)2. ah)ie. is £7.993 TE1. £14.382 wages and salar% cosis and £687 oih¢r ¢15¢5. Th¢5¢ ws15 r¢w¢s¢ni Bawi51 Union of Wak5, 5har¢ of di¢ costs uf d jÉ>irtl trclllure irt the BreLUrt5hire ptujecl Mith EkLOisl Minisirn" Tn]s1. ThL Grdni 10 Ihc Brcconshirc PTOjLXi in 2023 is shoii'n a ncgaiii'L COSL duc io I faci lh ihc costs for the Tr¢ar were split th¢ old charili" armi ih¢ Dew CIV and th¢ titningof th¢ partial reimbursLmini ofLpkndilure from IIK. Brt*othshire Aswciaiion. 39
The Baptist Union of Wales Notes to the Attouthts (or tbt year tndtd JI DttettLber 2024 BrtakdowTr olGrants to Cburchts lib 11iDi8ltrs C•rrYwl Tier L"•rtstritltd CUT1 ver Cwrmit Kestritled Totsl Funds Yetsr llDds 21124 21124 C>manfll Bedi'dd%iTrT Mon .597 7.Th)Q Bcthcl Fishyuar NebrIde. Tarnaile. Beul P¢nybTh'n Ne%%brid8¢ on Wy¢ tJ4xi41 y'rrJlln8 RhId y Brenin 6.941 2.000 4.083 6.941 4.083 3.320 478 WLI.%h 3.3?0 471 Contr1biitit)n IrLxn li¢ni As8LwiJtM)n Coniribuilon Irthn P¢ynbiokcshiT¢ klsw¢iaiiL 3.798 34.124 37.922 All lh¢ ¢xpdilll in th¢ prior )r•r w•s unr¢stri¢wl. Pr1'rI I'eY P¢knr )er lulAI Fundi Yeffr •ds Fundi 202J 2111) 102J CJrani8 loward$ ¢OUNL'% (irani.% lo C'hurch¥s with Mini51¢1S Grant Iii Flr¢conshire prujiil Biv01CnI grants lo rniircd minislcrs and 3.568 15.?O9 8.125 T11 granirnAklng 2.4.483
The Baptist Union of Wales Notes to the Attouthts (or tbt year tndtd JI DttettLber 2024 rekdoTh of CrYJbts 10 (..br¢t4 Mllh Pr1Drl'r Prnrl'ur Pnor Yeqr lolil "und& Fd Fund% 2023 21llJ C)manfa Bed)dd)¥ Mt .lim Elapii%l LhuiLh Hcthcl Fi%h¥uaril Nei%bridBc. TJbcrnJilc. Bculah Pen>'bThTr N¢bridg¢ on Wy¢ Bap¢isi Chur¢h 3.IM)O 3.51)0 3.5 1.500 3.437 3.437 Ci)niribuliiin Ir(Kn (ym'erii AS¥8¢11)N Conlribuliiin Panbrokc5hiTC kn(Kii 11.7501 32 Support ¢ogtJ for tharltablt ttlvltieJ C'•rrno1 velr l •mlriritd •d C urveni ior ('¥rroNt we 10191 Fund% Prknr IoAr Currefti Y¢o und 2014 2014 ID24 1023 Empluvee coslT nol inclmdedin thred costs 3,120 1,038 RILruiltn¥nl ¥xFKn5¢S PensiiTrn 10 retired siatr Preml.ie.Y EApeN.é.I Rlnl pai'abl¥ und¥'r or&raling ILas¢s PN'mi5¥5 ripair5. rin¥wals and miiilliLndnLL ProrKrtJ iiisuranc¢ 21.975 8J67 660 1.498 2.818 lJ45 4,163 364 Administrarive Overhe$ Sundr¥' exnSeS 01CL X5¢S 503 12254 2J74 14th2A 6,14 Professionulfeesprfirfiv oéhysor5 rtherihon ihe owdiiororcwmifter Ac¢ounlanci l¢¢s 0¢.[ than ¢iatninaiion or audil fLxs L£gal legs Con5uliancv ftts Other legal and professional lJ20 8J16 Z,90 17.049 17JH9 2.118 514 33.171 41
The Baptist Union of Wales Notes to the Attouthts (or tbt year tndtd JI DttettLber 2024 Finonciul coslf 367 2.¢X)I 473 186 798 Depreciaiion & Amortisaiion in iothl for Total suppori costs- Currenl It9r lth).972 106.777 27J8 The basis ofll11nIloTh of costs beNYen xttviiies is describ¢d aciouniing tM)licies c.ur1 vur Re5trKi unds L'•re5tviried d5 Tolil Funds 20 2025 2D23 EmploJe¥custs nol inclmdedin dlrecl costs 2.355 1,038 765 3.120 lJlJ8 RLLruiiinLni ixrKn Premi.Te.T £xpeN.ie.f RLnl pa%'4ibli iindlr lirating leases PropLirt> insuranc¢ 8J67 8J67 364 AdmiNlslrRNve overheqds undry ixrKnx. ()17iLL ixrKn' 585 6.140 6.140 PTrife5.4i¢inalfee.s pffiilio a¢h'isors rther or dudil liX'S Lrgal C(In%iilianLk 2J7S 525 z.118 514 Financirtl costs Ilank- LhaTbL% l)¥prkxialiun & Amortisaiion irt total for 142 798 Totxl support ¢tFStB- Prior It*r 1.691 27Jl 42
The Baptist Union of Wales Notes to the Attouthts (or tbt year tndtd JI DttettLber 2024 33 Other Erypenditure- Governan¢e costs cr1 vur I'llre5triried rrth¢ ver Prfor Toill Fwhd$ Re5triri Funds Toi•l Funds CMrr¥ni Yetsr 2014 ZD24 2Q23 ALidiiorfs ftts Trusi4¥s' r¥mun¢rJiion NIC an'l Tublles, rLmun¢rdiion '1'rSIlL5 1k.11rd coniribulion rKnsion o¥1 'I'ruslL'S' expenses 12.740 52.031 5.9?5 1.320 I4j 3.622 20,701 2 J34 8.4Y8 8A98 4.591 4.891 Toll 11tr1ct colt lJ20 3lJ2 PrlDr)"ur Pv&7rle•r IltstrStie Fund PFiur Year 21J2J 202J 3.IY)7 2Q.701 2JJ4 523 Jth22 20.701 2JJ4 'I'ru%14¥y' f¥mun¥ralicin NIC. (In-l ruilL¥%' r¥Ynun¢ralion 'I'ru.%iee% l)efined Loniribuiiun nsIOn 3.411 'Iru.%lLis' LXPLnsLs Total Ivoiernxnce CDYt JlJ20 34 TotHI Charitable eApendi¢ure .-urrelll Yur R<Str1¢ (.'•rrtTht Totsl Fund Tot81 Currenl Year 2024 ID24 2023 Total direci Snding -lotal £harilabl¢ Irading r051s Total granlrnakillg cosls Total supwrt costs Total Gii%LYnance costs ZMJ99 21JIH 281.703 93,298 12.$14 822(A 106.777 85.105 9,879 2.S,483 27J8 31J20 3.798 100.972 83.785 78.466 lJ20 461.46 1116J9. 187J60 43
The BAptist Union of W&les rotes to the.4¢tounts for ihe year endtd 31 De¢tmber 2024 This 4noty'.Tl.T is elo.TS5ifiedbJ u¢livi4' CON11001M1Wt11desCriPIORs. 3$ .4nafy'5i5 of incomc bj a£tii'it)' 2024 21123 .letlYllv Income Irom ¢hriiAbl¢ Afrivilits 2.315 9.016 2.315 659.476 12X.673 24.015 9.016 3.73A.621 5Y.421 2.779 Dunailli5 & Lesaci¢s In¥¢¥lm¢ni Ite Oih¢Y In¢om¢ 'rotAI iTrcome ihe S()Tr.- 1114.479 3,807,1137 CotEJrwlt¥ ¢JJlnc¢Jme In¢orne frorn ex¢han8e IronsA¢iions 814.479 3.8U7.837 36 ..In#l%Jki of charitsblt expenditure bi. xtiivItY Dirtel tosl %upport fumdini nf TDiI Tot#1 2024 2024 2•24 1124 2023 4cOvjlle Direrl ros1¥ haritable ifadinBfltsts F.mplth¢¢ ¢05t4 not In¢lud¢d In dir¢¢iettsts Premiies Lxrenses Administraiil'e overheads 281.703 281,703 93J98 9J79 J.ooD 27th36 27.636 .731 Prolessional lees 58.536 58.136 2,474 82264 2.474 984 GranlmakinBcosts 82264 ToiAI Rtligiou5 a¢tiiititS 294317 116.777 82U64 483J$8 1$6,04
The BAptist Union of W&les rotts to the.4etounts for ihe lear endtd 31 De¢tmber 2024 S¥mm8ry tsfthriiblt eolis bv atliiitv tosts pport rosts Crrant fundin% of actii-ities Tothl TotNI 2024 2024 2124 2024 2023 Total Reli8lLWShCtiviiies Tal Govemancecosisasdaailed In No 294217 106.777 82.264 483.258 I..040 33 85.105 85.105 31.32rJ TotHI rh•riiblt ¢sptpdItrt 294217 191J82 82264 568J63 187J60 The basis ofallocation ofcrffjts aeliviiies Isdescnbed ndeTaCCOui8K>1Kles 'rh¢ brcakdw4'n th15c¥pcryJiiurc b). wxor¥iS[1e 1] cla5%1fic4rKMI 15dlled In nthc 34 ufJuppori ROvtrthtt ¢oiiA b) ¢krltbl ¢thlll CJOI'trn#htt Innee ()th¢r ()¢rhc4dg Toil 85.105 2.474 101.303 IYl.882 ToiAI 85.105 2.474 C•ranli to in$titylion 2024 indiiidualy 2024 TDiI 2024 2•24 2023 212 82J64 2.S.483 60.984 21J80 82J64 Fuller details ol'srants madc and ttlakd ¢OSL%. inL.1ing 5upw¢th. att kn in 31 37 Analv5K4 of non Charitable txptndiiun b% a¢ii%ih' Governance rOts 05t5 2024 2th23 (hher ExdILrt- GovemanCeLXtsl8dCta11td In N(rtc 33 5.105 31.320