Charity Registration No. 1201927
PARK ROAD BAPTIST CHURCH, PETERBOROUGH
FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2023
PARK ROAD BAPTIST CHURCH, PETERBOROUGH
CHARITY INFORMATION
Registered Address
Park Road Baptist Church Park Road Peterborough PE1 2TF
Trustees
Term expires
Rev Derek Gibson Appointed 13 February 2023 Minister Mr Daniel Andeyaba Appointed 13 February 2023 March 2026 Mrs Shagufta Arthur Appointed 13 February 2023; resigned 15 March 2023 Mr Hugh Brenton Appointed 13 February 2023; resigned 15 March 2023 Mrs Ann Butler Appointed 13 February 2023 March 2026 Mr Mark Jackson Appointed 13 February 2023 March 2025 Mrs Florence Morton Appointed 15 March 2023 March 2026 Mr Stephen West Appointed 13 February 2023 March 2024 Miss Pat Woolhouse Appointed 15 March 2023 March 2026
Independent Examiner
Mr David Dawson
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PARK ROAD BAPTIST CHURCH, PETERBOROUGH
TRUSTEES' REPORT FOR THE PERIOD ENDED 31 DECEMBER 2023
The Trustees, who comprise the Minister and Deacons of the church, present their annual report and financial statements for the period ended 31 December 2023.
Charitable object
The Church is a charitable incorporated organisation registered with the Charity Commission and is governed by a Constitution which states that the principal purpose of the charity is the advancement of the Christian faith according to the principles of the Baptist denomination to include the advancement of education and such other charitable purposes for public benefit in such parts of the United Kingdom and the world as the Church shall determine.
Organisation structure and decision making process
The normal mode of entry into the membership of the Church is through baptism by immersion upon personal profession of faith in Jesus Christ. The Church has however accepted "Open Membership" so that persons seeking membership who have not been baptised in this manner may, at the discretion of the Church Members' Meeting, be accepted for full membership based on their own public profession of faith.
The Members' Meeting has responsibility for the overall policy of the Church, and has met bi-monthly during the year. In accordance with the Constitution, the members appoint up to 13 Trustees (including the Minister) who are collectively known as the Leadership Team. They are responsible for the day to day running of the church's work and witness and the financial and legal aspects of the charity. Other members may be coopted as the Leadership Team deem appropriate. Members are encouraged to take an appropriate part in the spiritual and practical tasks involved in the furtherance of the charitable objective.
Relevant matters are submitted to the Church Meeting by the Trustees for guidance and decisions, or may be raised by members for further consideration by the Trustees. The Constitution specifies appropriate majorities for Church Meeting decisions but, in practice, the Church seeks to work by consensus wherever possible.
Objectives and activities
During the year the trustees have been working towards ensuring that this charity is ready to receive the activities, assets and liabilities of the from the existing unincorporated charity through which the church activities have been undertaken throughout the year. It is anticipated that the transfer will take place in early January 2024.
During the year, the charity received funding from the church to invest in a property to further the objects of the church through providing support for vulnerable people, working alongside a separate charity, Hope Into Action UK. The property is currently being made ready to receive the first residents and a group from the church will provide appropriate support.
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PARK ROAD BAPTIST CHURCH, PETERBOROUGH
TRUSTEES' REPORT (CONTINUED) FOR THE PERIOD ENDED 31 DECEMBER 2023
Achievements and performance
We began the year with a membership of 70 and ended with 73. The increase was the result of welcoming 4 new members and the death of one member.
Future plans
The activities of the church will be transferred into this charity in early 2024
The church has also decided to investigate the possibility of re-ordering the entrance to the church and other associated building works. Funds in excess of the reserves policy have been designated to support this work but additional fundraising will be required if this work proceeds. The church is currently working with an architect in order to develop a planning application for the proposed works.
Financial review
During the year the charity received a grant from the unincorporated church charity to invest in part ownership of a property.
The Church is heavily dependent on its membership working as volunteers in all aspects of the Church's activities, many of which run with little or no impact on the Church's expenditure, but nevertheless contribute substantially to the achievement of the Church's objectives.
The financial results for the year, together with a summary of the accounting policies adopted, are set out in the accompanying financial statements.
The Trustees assess major risks facing the Church on an ongoing basis and are satisfied that there are policies in place to minimise these risks.
Reserves policy
The Trustees aim to maintain available unrestricted funds at a level which will enable the charity to continue to operate for a period of time, in the event of a significant decline in income. This is calculated based on approximately 6 months of estimated future operating expenditure.
At the end of the year the charity had no available reserves, but this will change when the transfer from the unincorporated charity takes place. At that point the available reserves, not designated for a specific purpose, are expected to be in line with the reserves policy.
Approved by the Trustees and signed on their behalf by:
Mr Stephen West 6 February 2024
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PARK ROAD BAPTIST CHURCH, PETERBOROUGH
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF PARK ROAD BAPTIST CHURCH
I report on the accounts of Park Road Baptist Church, Peterborough for the year ended 31 December 2023, which are set out on pages 5 to 9.
Respective responsibilities of trustees and examiner
The charity’s trustees are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.
It is my responsibility to:
-
examine the accounts under section 145 of the 2011 Act.
-
follow the procedures laid down in the general Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act; and
-
state whether any particular matters have come to my attention.
Basis of independent examiners' report
My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a “true and fair view” and the report is limited to those matters set out in the statement below.
Independent examiners statement
In connection with my examination, no matter has come to my attention:
1) which gives me reasonable cause to believe that, in any material respect, the requirements
-
to keep accounting records in accordance with section 130 of the 2011 Act; and
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to prepare accounts which accord with the accounting records and to comply with the accounting requirements of the 2011 Act
have not been met; or
2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
David Dawson 14 March 2024
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PARK ROAD BAPTIST CHURCH, PETERBOROUGH
STATEMENT OF FINANCIAL ACTIVITIES FOR THE PERIOD ENDED 31 DECEMBER 2023
| Note Income Donations and legacies 2 Total incoming resources Expenditure Expenditure on charitable activities Total expenditure Net income / (expenditure) Gross transfers between funds 6 Net movement in funds Total funds brought forward Total funds carried forward |
Total Unrestricted Designated Restricted Funds Funds Funds Funds 2023 £ £ £ £ - - 75,000 75,000 |
|---|---|
| - - 75,000 75,000 |
|
| - - - - |
|
| - - - - |
|
| - - 75,000 75,000 - 72,074 (72,074) - |
|
| - 72,074 2,926 75,000 - - - - |
|
| - 72,074 2,926 75,000 |
The notes on pages 7 to 9 form part of these accounts.
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PARK ROAD BAPTIST CHURCH, PETERBOROUGH
BALANCE SHEET AS AT 31 DECEMBER 2023
| Note Fixed assets Tangible assets 4 Current assets Debtors 5 Cash at bank and in hand Creditors: amounts falling due within one year Net current assets Creditors: amounts falling due after more than one year Total assets less current liabilities Funds Restricted 6 Designated 7 Unrestricted |
£ £ 72,074 2,926 - 2,926 - 2,926 - 75,000 2,926 72,074 - 75,000 2023 |
£ £ 72,074 2,926 - 2,926 - 2,926 - 75,000 2,926 72,074 - 75,000 2023 |
|---|---|---|
| 2,926 - |
||
| 75,000 | ||
| 2,926 72,074 - |
||
| 75,000 |
The notes on pages 7 to 9 form part of these accounts.
The financial statements were approved by the Trustees on 6 February 2024.
Mr Mark Jackson, Treasurer
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PARK ROAD BAPTIST CHURCH, PETERBOROUGH
NOTES TO THE ACCOUNTS FOR THE PERIOD ENDED 31 DECEMBER 2023
1 Accounting policies
a
Basis of preparation
The financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note to these accounts. The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.
The Church constitutes a public benefit entity as defined by FRS 102.
b Preparation of the accounts on a going concern basis
The accounts are prepared on the going concern basis. This is dependent upon the continued support of donors, which the trustees consider appropriate.
c Income recognition policies
-
Items of income are recognised and included in the accounts when all of the following criteria are met: - the charity has entitlement to the funds;
-
there is sufficient certainty that receipt of the income is considered probable;
-
the amount can be measured reliably.
For legacies, entitlement is taken as the earlier of the date on which the charity becomes aware that a distribution is more than likely to be made, and that the amount can be determined with reasonable certainty, or the date on which a distribution is received from the estate.
Grants receivable are recognised on a receivable basis.
Investment income is accounted for in the period in which the charity is entitled to receipt.
The charity benefits from many voluntary hours and unclaimed out-of-pocket expenses contributed by a number of supporters. A number of small assets have also been donated, for which no value has been attributed in these accounts.
d Expenditure
Expenditure is included on an accruals basis. All costs have been allocated directly to a charitable activity and therefore there are no support costs to allocate between activities.
e
Fixed assets
Tangible fixed assets are included in the balance sheet at cost. Depreciation is provided to write off the cost, less estimated residual values, of all fixed assets over their expected useful lives. The estimated residual value of the shared ownership property is anticipated to be equivalent to the cost and therefore no depreciation has been provided on the propery.
f Funds
Unrestricted general funds are funds which can be used in accordance with the charitable objects at the discretion of the trustees.
Designated funds are funds set aside by the trustees out of unrestricted general funds for specific future purposes or projects.
Restricted funds are funds that can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Endowment funds represent property, which must be retained for the long term.
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PARK ROAD BAPTIST CHURCH, PETERBOROUGH
NOTES TO THE ACCOUNTS FOR THE PERIOD ENDED 31 DECEMBER 2023
2 Donations and legacies
| Donations and legacies | ||||
|---|---|---|---|---|
| Total | ||||
| Unrestricted | Designated | Restricted | Funds | |
| Funds | Funds | Funds | 2023 | |
| £ | £ | £ | £ | |
| Grant: Hope Into Action property | - | - | 75,000 | 75,000 |
| - | - | 75,000 | 75,000 |
3. Staff costs and trustees' expenses
The charity did not have any employees.
4 Tangible fixed assets
| angbe xed assets | Church | Shared | ||
|---|---|---|---|---|
| land & | ownership | |||
| buildings | property | Manse | Total | |
| £ | £ | £ | £ | |
| Cost | ||||
| Additions | - | 72,074 | - | 72,074 |
| Disposals | - | - | - | - |
| 31 December 2023 | - | 72,074 | - | 72,074 |
| Depreciation | ||||
| Charge for the year | - | - | - | - |
| Disposals | - | - | - | - |
| 31 December 2023 | - | - | - | - |
| Net book value | ||||
| 31 December 2023 | - | 72,074 | - | 72,074 |
| 31 December 2022 | - | - | - | - |
| Debtors | ||||
| 2023 | ||||
| £ | ||||
| Other debtors | 2,926 | |||
| 2,926 |
5 Debtors
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PARK ROAD BAPTIST CHURCH, PETERBOROUGH
NOTES TO THE ACCOUNTS FOR THE PERIOD ENDED 31 DECEMBER 2023
6 Restricted funds
| Hope Into Action house | Balance brought forward Income Expenditure Transfers Balance carried forward £ £ £ £ £ - 75,000 - (72,074) 2,926 |
|---|---|
| - 75,000 - (72,074) 2,926 |
The Hope Into Action house fund represents funds donated to contribute to the investment in the house. The investment was made during the year and the fund transferred into the designated fixed asset fund.
7 Designated funds
| Fixed asset fund | Balance brought forward Income Expenditure Transfers Balance carried forward £ £ £ £ £ - - - 72,074 72,074 |
|---|---|
| - - - 72,074 72,074 |
The fixed asset fund represents the book value of assets.
8 Analysis of net assets between funds
| Total | |||||
|---|---|---|---|---|---|
| **Unrestricted ** | Designated | Restricted | Endowment | Funds | |
| Funds | Funds | Funds | Funds | 2023 | |
| £ | £ | £ | £ | £ | |
| Fixed assets | - | 72,074 | - | - | 72,074 |
| Debtors | - | - | 2,926 | - | 2,926 |
| - | 72,074 | 2,926 | - | 75,000 |
9 Related party transactions
This Charitable Incorporated Organisation was set up with the same name, trustees and members as an existing charity with the same name, with a view to transferring the assets and liabilities of that charity into this CIO following the end of the year. A grant was made by that charity to this charity of £75,000 for the purposes of investing in a property. At the end of the year there was a balance of £2,926 due from the unincorporated charity.
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