Charity Registration No. 1201927
PARK ROAD BAPTIST CHURCH, PETERBOROUGH
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
PARK ROAD BAPTIST CHURCH, PETERBOROUGH
CHARITY INFORMATION
Registered Address
Park Road Baptist Church Park Road Peterborough PE1 2TF
Trustees Term expires Rev Derek Gibson Minister Mr Daniel Andeyaba Resigned 23 April 2025 Mrs Ann Butler April 2026 Mr Mark Jackson Resigned 23 April 2025 Mr James Hickinbotham Appointed 23 April 2025 April 2028 Mr Andrew Macdonald Appointed 23 April 2025 April 2028 Rev Michael Page April 2027 Mr Stephen West April 2027 Miss Pat Woolhouse April 2026
Property Trustees
The Baptist Union Corporation Limited Baptist House 129 Broadway Didcot Oxfordshire OX11 BRT
Bankers
Barclays Bank plc Church Street Peterborough PE1 1EZ
Baptist Union Corporation Limited Baptist House 129 Broadway Didcot OX11 8RT
Independent Examiner
Keith L Nicholson FFA/FIPA
Page 1
PARK ROAD BAPTIST CHURCH, PETERBOROUGH
TRUSTEES' REPORT FOR THE YEAR ENDED 31 DECEMBER 2025
The trustees, who comprise the Minister and Deacons of the church, present their annual report and financial statements for the year ended 31 December 2025.
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. The church may also advance education and such other charitable purposes for public benefit in such parts of the United Kingdom and the world.
The church occupies premises which are held by The Baptist Union Corporation Limited on trusts which are entirely compatible with the above object.
Charity merger
This charity (the CIO) was formed in 2023 with the intention of transferring the assets and activities of an unincorporated charity with the same name (Charity registration number 1127659) into the CIO. This merger completed on 1 June 2024. The old charity had no transactions following the transfer and was removed from the register at Charity Commission in December 2025.
Under the requirements of the Charity SORP, merger accounting has been adopted by the charity and therefore the comparatives figures in the accounts reflect the finances of both the unincorporated charity and the CIO for both years.
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 nembers' meeting, be accepted for full membership based on their own public profession of faith.
The church members' meeting has responsibility for the overall policy of the Church, and meets on a minimum of a quarterly basis 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 co-opted as the leadership team deem appropriate, but this did not occur during the year. 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 members' 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 members' meeting decisions but, in practice, the church seeks to work by consensus wherever possible.
Objectives and activities
In order to achieve the principal objective which is set out above, the church provides a variety of activities for both its membership and to the community generally. The aim is to show the love of Jesus Christ in both word and deed and to bring people into a closer relationship with Him as living Lord.
Central to the work and witness of the church is the provision of regular public services of Christian worship, which take place each Sunday and at other times. The church seeks to be a friendly and welcoming community and anybody is free to attend any of these services. There is a children's programme during the Sunday morning services. The church holds regular times of prayer and small groups known as growth groups for the development of faith and discipleship.
Page 2
PARK ROAD BAPTIST CHURCH, PETERBOROUGH
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025
The church is involved in other areas of work including:
-
Activities and events for children and young people and the wider church family; A midweek group for children and young people is held on a fortnightly basis.
-
The church runs courses for people interested in discovering more about Christianity and this has included some who have attended the community hub.
-
Operating a community hub to support those struggling with the rise in the cost of living and loneliness. This included a hub Christmas dinner in December where we were delighted to serve over 60 Christmas dinners to guests. Some of the guests at the hub have also participated in our Sunday church services.
-
Working with FoodCycle, a UK charity, who create meals for people at risk of food poverty and social isolation on a weekly basis using surplus foods from local organisations.
-
Being one of the founder members of Churches Together in Central Peterborough, a separate charity, the church works with other churches in Peterborough City Centre on a variety of projects being a Christian witness in the wider community as well as joint acts of worship.
-
Investing in a house and working with a separate charity, Hope Into Action UK, to support the residents living in the property.
-
The church also allows some other charitable and not for profit organisations to use the church premises for the benefit of the community and which are consistent with and support our own charitable objectives.
The church operates systems to ensure that all people working with children and vulnerable adults are appropriately vetted with regards to the Disclosure and Barring Service. The East Midlands Baptist Association provided training to leaders and volunteers during the year to ensure we remain up to date.
The trustees have taken into account the Charity Commission guidance on public benefit, and are satisfied that the activities summarised above clearly demonstrate that the charity is providing a benefit to the public.
Achievements, performance and future plans
We began the year with a membership of 76 and ended with 74. The movement was the result of welcoming two new members, the death of three members and the transfer of one member to another church.
Our annual return to the Baptist Union reported an attendance at the relevant Sunday service of 67 (2024 - 67) people in person and 5 (2024 - 8) people attending remotely via Zoom. This was representative of a typical Sunday service.
During the year the church held a weekend away where a 45 members of the fellowship were able to enjoy an extended time together for teaching, worship and fellowship. The focus of the weekend was the teaching in the book 'Practicing the Way' and the church was challenged to deepen their faith and apprenticeship with Jesus.
In September 2025 a building redevelopment project commenced. The project aims to improve accessibility and make our church more visible by moving the main entrance. Ramps (inside and out), along with safer steps, will enable better access for all. The downstairs of our building has been reconfigured to provide a light, brighter and more welcoming entrance with a new servery for refreshments as well as refurbishing the main rooms. A grant from Peterborough City Council has funded a new disabled toilet. The project has been financed by reserves and a loan from Baptist Building CIO, for which repayments will start in December 2026. The project has been a real step of faith as a church and we trust God that He will guide us on how to use the new premises the benefit the city of Peterborough as we aim to share our love of Jesus and lead people to faith. We look forward to our re-opening service in April when we re-dedicate our building to God.
Page 3
PARK ROAD BAPTIST CHURCH, PETERBOROUGH
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025
Financial review
The church continues to raise the funds it needs to carry on its activities from within its own membership and congregation. During the year offerings and donations were higher than the previous year. In addition grants were received to support the work of the community hub.
The most significant expense of the church relates to the ministry of the church, which is mainly salary costs. This includes the minister who, together with the leadership team, coordinates the church's activities including the Sunday services, pastoral care for the congregation and other people, and equips and encourages the membership in their Christian life, witness and service.
The church expressed its part in the life of the wider church by making grants to Christian organisations with aims and objectives consistent with the church's own charitable purpose.
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.
During the year additional fundraising was undertaken for the building project. As part of the financial planning for the project, our legacy fund, together with other unrestricted funds in excess of the reserves policy, had been designated for the purposes of the project. A loan has also been received to fund the balance of the project which is repayable over 10 years commencing in December 2026.
Where possible funds are placed in bank accounts set to achieve a balance between maintaining access to funds for anticipated planned and emergency expenditure and maximising interest received on those funds. A significant part of our funds were on deposit with the Baptist Union of Great Britain which enables the capital to be used for purposes which are consistent with our charitable objects in addition to earning interest. These funds will significantly reduce as part of the building project.
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 church to continue to operate for a period of time, in the event of a significant decline in income. The amount considered appropriate to hold in reserves has been reviewed in the year and considered to be £60,000 (2024 - £60,000). This is calculated based on approximately 6 months of estimated future operating expenditure. The trustees will be reviewing the policy again on completion of the building project due to the commitment on the loan.
In the previous year, unrestricted funds in excess of the reserves policy together with the balance of legacy funds were designated to the building works noted above.
During 2024 the defined benefit pension scheme closed and there is no ongoing obligation for the church in respect of the scheme.
Excluding the designated funds, available unrestricted funds at the end of the year amounted to £74,852 (2024 - £60,105). The excess over the policy will be considered once the building project is complete.
Approved by the trustees and signed on their behalf by:
Mr Stephen West 17 February 2026
Page 4
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 2025, which are set out on pages 6 to 16.
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
-
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.
Keith L Nicholson FFA/FIPA 27 March 2026
Page 5
PARK ROAD BAPTIST CHURCH, PETERBOROUGH
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2025
| Total | Total | ||||||
|---|---|---|---|---|---|---|---|
| **Unrestricted ** | Designated | **Restricted ** | Endowment | Funds | Funds | ||
| Funds | Funds | Funds | Funds | 2025 | 2024 | ||
| Note | £ | £ | £ | £ | £ | £ | |
| Income | |||||||
| Donations and legacies | 2 | 96,775 | - | 68,595 | - | 165,370 | 95,139 |
| Investment income | 3 | 8,834 | - | - | - | 8,834 | 10,908 |
| Income from charitable activities | 4 | 6,163 | - | 27,490 | - | 33,653 | 27,973 |
| Other income | 132 | - | - | - | 132 | - | |
| Total incoming resources | 111,904 | - | 96,085 | - | 207,989 | 134,020 | |
| Expenditure | |||||||
| Expenditure on charitable activities | 5 | 98,977 | 30,663 | 23,897 | 3,697 | 157,234 | 143,550 |
| Total expenditure | 98,977 | 30,663 | 23,897 | 3,697 | 157,234 | 143,550 | |
| Net income / (expenditure) | 12,927 | (30,663) | 72,188 | (3,697) | 50,755 | (9,530) | |
| Gross transfers between funds | 14 & 15 | 1,820 | (146,131) | (56,310) | 200,621 | - | - |
| Net movement in funds | 14,747 | (176,794) | 15,878 | 196,924 | 50,755 | (9,530) | |
| Total funds brought forward | 60,105 | 625,768 | 4,386 | 146,334 | 836,593 | 846,123 | |
| Total funds carried forward | 74,852 | 448,974 | 20,264 | 343,258 | 887,348 | 836,593 |
The notes on pages 9 to 16 form part of these accounts.
Page 6
PARK ROAD BAPTIST CHURCH, PETERBOROUGH
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2025
| Prior year Note Income Donations and legacies 2 Investment income 3 Income from charitable activities 4 Other income Total incoming resources Expenditure Expenditure on charitable activities 5 Total expenditure Net income / (expenditure) Gross transfers between funds 14 & 15 Net movement in funds Total funds brought forward Total funds carried forward |
Total Unrestricted Designated Restricted Endowment Funds Funds Funds Funds Funds 2024 £ £ £ £ £ 94,377 - 762 - 95,139 17,069 - - - 17,069 362 - 21,450 - 21,812 - - - - - |
|---|---|
| 111,808 - 22,212 - 134,020 |
|
| 92,262 22,370 25,222 3,696 143,550 |
|
| 92,262 22,370 25,222 3,696 143,550 |
|
| 19,546 (22,370) (3,010) (3,696) (9,530) (21,214) 30,390 (9,176) - - |
|
| (1,668) 8,020 (12,186) (3,696) (9,530) 61,773 617,748 16,572 150,030 846,123 |
|
| 60,105 625,768 4,386 146,334 836,593 |
The notes on pages 9 to 16 form part of these accounts.
Page 7
PARK ROAD BAPTIST CHURCH, PETERBOROUGH
BALANCE SHEET AS AT 31 DECEMBER 2025
| Note Fixed assets Tangible assets 8 Current assets Debtors 9 Cash at bank and in hand Creditors: amounts falling due within one year 10 Net current assets Creditors: amounts falling due after more than one year 11 Total assets less current liabilities Funds Endowment 13 Restricted 14 Designated 15 Unrestricted |
£ £ £ £ 652,826 468,157 40,337 23,041 466,354 350,767 506,691 373,808 (77,169) (5,372) 429,522 368,436 (195,000) - 887,348 836,593 343,258 146,334 20,264 4,386 448,974 625,768 74,852 60,105 887,348 836,593 2025 2024 |
£ £ £ £ 652,826 468,157 40,337 23,041 466,354 350,767 506,691 373,808 (77,169) (5,372) 429,522 368,436 (195,000) - 887,348 836,593 343,258 146,334 20,264 4,386 448,974 625,768 74,852 60,105 887,348 836,593 2025 2024 |
|---|---|---|
| 506,691 (77,169) |
||
| 836,593 | ||
| 146,334 4,386 625,768 60,105 |
||
| 836,593 |
The notes on pages 9 to 16 form part of these accounts.
The financial statements were approved by the trustees on 17 February 2026.
Mr Andrew Macdonald, Treasurer
Page 8
PARK ROAD BAPTIST CHURCH, PETERBOROUGH
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2025
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.
As described in note 19, merger accounting has been adopted for the combination of two charities.
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, including the church premises, 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. It is calculated at the following rates:
Church premises 1% p.a. straight line Shared ownership property No depreciation charged Furniture and fittings 10% p.a. straight line Computers and equipment 25% p.a. straight line
The manse is shown at its book value on transition to FRS 102.
No depreciation is charged on the shared ownership property on the basis that the expected realisable value will be no less than the book value.
Page 9
PARK ROAD BAPTIST CHURCH, PETERBOROUGH
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2025
1 Accounting policies (continued)
f Pensions
The charity makes contributions to a defined contribution pension scheme for the benefit of its employees. Contributions payable are charged in the year they are payable.
In previous years the charity has made contributions to a defined benefit pension scheme on behalf of employees within that scheme. There are no current employees within the defined benefit part of the scheme, but the charity is required to make deficit contributions to the scheme. A liability for the full amount of the deficit contributions requested by the trustees of the scheme has been included as a liability in the accounts in previous years but following changes to the funding of the scheme, deficit contributions are now a nominal amount and therefore no liability is included in the accounts.
g 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.
2 Donations and legacies
| Donations and legacies | ||||||
|---|---|---|---|---|---|---|
| Total | Total | |||||
| **Unrestricted ** | Designated | **Restricted ** | Endowment | Funds | Funds | |
| Funds | Funds | Funds | Funds | 2025 | 2024 | |
| £ | £ | £ | £ | £ | £ | |
| Offerings | 80,425 | - | 10 | - | 80,435 | 78,351 |
| Building project donations | - | - | 56,825 | - | 56,825 | 587 |
| Raised for other causes | - | - | 205 | - | 205 | 175 |
| Tax refunds | 16,350 | - | 11,555 | - | 27,905 | 15,276 |
| Legacies | - | - | - | - | - | 750 |
| 96,775 | - | 68,595 | - | 165,370 | 95,139 |
3 Investment income
| Investment income | ||||||
|---|---|---|---|---|---|---|
| Total | Total | |||||
| **Unrestricted ** | Designated | **Restricted ** | Endowment | Funds | Funds | |
| Funds | Funds | Funds | Funds | 2025 | 2024 | |
| £ | £ | £ | £ | £ | £ | |
| Bank interest received | 8,834 | - | - | - | 8,834 | 10,908 |
Page 10
PARK ROAD BAPTIST CHURCH, PETERBOROUGH
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2025
4 Income from charitable activities
| Total | Total | |||||
|---|---|---|---|---|---|---|
| **Unrestricted ** | **Designated ** | **Restricted ** | Endowment | Funds | Funds | |
| Funds | Funds | Funds | Funds | 2025 | 2024 | |
| £ | £ | £ | £ | £ | £ | |
| Community hub | - | - | 19,000 | - | 19,000 | 18,625 |
| Groups and events | 262 | - | 8,490 | - | 8,752 | 3,187 |
| Charitable use of premises | 5,901 | - | - | - | 5,901 | 6,161 |
| 6,163 | - | 27,490 | - | 33,653 | 27,973 |
5 Expenditure on charitable activities
| Unrestricted Designated Funds Funds £ £ Ministry 49,452 - Mission 14,527 2,750 Establishment: depreciation - 10,435 Establishment: other 34,998 17,478 98,977 30,663 Ministry Mission Establishment |
Unrestricted Designated Funds Funds £ £ Ministry 49,452 - Mission 14,527 2,750 Establishment: depreciation - 10,435 Establishment: other 34,998 17,478 98,977 30,663 Ministry Mission Establishment |
Total Total Restricted Endowment Funds Funds Funds Funds 2025 2024 £ £ £ £ 9,767 - 59,219 52,767 12,555 - 29,832 31,634 - 3,697 14,132 15,189 1,575 - 54,051 43,960 23,897 3,697 157,234 143,550 Charitable Grant Total Total Activities Funding 2025 2024 £ £ £ £ 59,219 - 59,219 52,767 16,772 13,060 29,832 31,634 68,183 - 68,183 59,149 144,174 13,060 157,234 143,550 |
|---|---|---|
| 98,977 30,663 |
||
6 Grants payable
| Grants payable | ||||||
|---|---|---|---|---|---|---|
| Total | Total | |||||
| **Unrestricted ** | **Designated ** | **Restricted ** | Endowment | Funds | Funds | |
| Funds | Funds | Funds | Funds | 2025 | 2024 | |
| £ | £ | £ | £ | £ | £ | |
| EMBA Home Mission | 6,480 | - | - | - | 6,480 | 6,480 |
| BMS World Mission | 6,480 | - | - | - | 6,480 | 6,480 |
| Other charities | 100 | - | - | - | 100 | 150 |
| 13,060 | - | - | - | 13,060 | 13,110 |
Page 11
PARK ROAD BAPTIST CHURCH, PETERBOROUGH
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2025
7 Staff costs and trustees' expenses
| Staff costs and trustees' expenses | |
|---|---|
| Salaries Pension costs: current employees Contribution / interest cost on final salary pension deficit |
2025 2024 £ £ 37,750 36,324 3,909 3,794 - 10 |
| 41,659 40,128 |
No employee earned £60,000 p.a. or more. The average number of employees was 2 (2024 - 2). No trustee received any remuneration from the charity during the year, other than the minister for their duties as minister, in accordance with guidance from the Baptist Union.
The church paid pension contributions amounting to £3,909 (2024 - £3,794) to a defined contribution pension scheme in respect of its employees. The church also paid deficit contributions amounting to £nil (2024 - £10) in respect of a defined benefit pension scheme.
- 8 Tangible fixed assets
| Cost At 1 January 2025 Additions Disposals 31 December 2025 Depreciation At 1 January 2025 Charge for the year Disposals 31 December 2025 Net book value 31 December 2025 31 December 2024 Tangible fixed assets |
Church land & buildings Manse Shared ownership property Furniture & fittings Computers & equipment Total £ £ £ £ £ 379,790 255,463 84,089 18,069 46,920 784,331 200,621 - - - - 200,621 - - (1,820) (3,514) - (5,334) |
|---|---|
| 580,411 255,463 82,269 14,555 46,920 979,618 |
|
| 233,456 35,463 - 18,069 29,186 316,174 3,697 - - - 10,435 14,132 - - - (3,514) - (3,514) |
|
| 237,153 35,463 - 14,555 39,621 326,792 |
|
| 343,258 220,000 82,269 - 7,299 652,826 |
|
| 146,334 220,000 84,089 - 17,734 468,157 |
The value of the house has been retained at the book value on transition to FRS 102. The value of the church premises for insurance purposes was £6,596,422 (2024 : £6,596,422). All other fixed assets are used for direct charitable purposes.
The church premises and manse are legally held by holding trustees, The Baptist Union Corporation Limited. Under the terms of the trust for the church premises, any net proceeds from a disposal of the property must be invested back into either land on which to build a church building or into an existing building for it to become the church.
Under the terms of the trust for the manse, the principal use must be as residential accommodation for a minister or other employee or worker of the church. Should the house be sold, the net proceeds can be applied for the charitable purposes of the church. The Baptist Union Corporation Limited will urge the church to bear in mind the importance to the church of retaining the ability to purchase a replacement property so as to facilitate future ministry. If the church wishes to use the money for other purposes the Baptist Union Corporation Limited will consult the East Midland Baptist Association before making a decision. In the event of a closure of the church, the Baptist Union Corporation Limited may apply the net proceeds to such charitable purposes of the Baptist denomination as the Baptist Union and the East Midlands Baptist Association shall determine.
Page 12
PARK ROAD BAPTIST CHURCH, PETERBOROUGH
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2025
9 Debtors
| Debtors | |
|---|---|
| HMRC tax refund on gift aid Accrued Income Prepayments |
2025 2024 £ £ 36,665 15,018 - 4,225 3,672 3,798 |
| 40,337 23,041 |
10 Creditors: amounts falling due within one year
| Loan: Baptist Building Fund Taxation and social security Accruals Deferred income Other creditors Creditors: amounts falling due after more than one year Loan: Baptist Building Fund |
2025 2024 £ £ 5,000 - 372 342 69,668 3,613 243 200 1,886 1,217 |
|---|---|
| 77,169 5,372 |
|
| 2025 2024 £ £ 195,000 - |
11 Creditors: amounts falling due after more than one year
Loan: Baptist Building Fund
The loan with Baptist Building Fund is unsecured but a restriction has been placed on the Land Registry title deeds as, while the loan remains outstanding, we would need the permission of the Fund to sell the property. The loan is repayable in quarterly instalments commencing December 2026. The loan is interest free, but it has been agreed that the church will endeavour to pay an additional amount of £20,000 as a grant at the end of the loan agreement to further the work of the Building Fund. As there is not a contractual requirement to make the additional payment, no liability is included in these accounts for that amount.
12 Pensions
The church was a participating employer in the Baptist Pension Scheme (“the Scheme”), which was a separate legal entity administered by the Pension Trustee (Baptist Pension Trust Limited). The assets of the Scheme were held separately from those of the Employer and the other participating employers.
The Scheme, previously known as the Baptist Ministers’ Pension Fund, started in 1925, but was closed to future accrual of defined benefits on 31 December 2011. Prior to this date the main benefit provided through the Defined Benefit (DB) Plan was a pension of one eightieth of final minimum pensionable income for each year of pensionable service together with additional pension in respect of premiums paid on Pensionable Income in excess of Minimum Pensionable Income. Since 1 January 2012, benefits have been provided through a Defined Contribution (DC) Plan.
On 30 June 2022 the Baptist Pension Scheme signed an agreement with the insurance company Just Group (“Just”) to secure DB Plan members’ pension benefits. Just are now providing financial backing for all pensions provided through the Scheme’s DB Plan and following this transaction, the Scheme no longer has a shortfall. An updated Recovery plan was then signed in August 2022 under which recovery contributions from each participating employer in the DB Plan reduced to £1 per month from August 2022. The Scheme closed in October 2024 and the church no longer has any obligation in respect of the Scheme.
Page 13
PARK ROAD BAPTIST CHURCH, PETERBOROUGH
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2025
13 Endowment funds
| Endowment funds | |||||
|---|---|---|---|---|---|
| Balance | Balance | ||||
| brought | Income | Expenditure | Transfers | carried | |
| £ | £ | £ | £ | £ | |
| Church property fund | 146,334 | - | (3,697) | 200,621 | 343,258 |
This comprises the net book value of the church land and buildings in Park Road, Peterborough.
14 Restricted funds
| Property development Fellowship weekend away / away day Community hub Pastoral fund Church flowers Raised for other causes Hope Into Action house Fellowship weekend away / away day Community hub Pastoral fund Church flowers Raised for other causes |
Balance brought forward 2025 Income Expenditure Transfers Balance carried forward 2025 £ £ £ £ £ - 72,865 - (56,310) 16,555 590 8,490 (9,080) - - 3,544 14,000 (13,925) - 3,619 215 - (162) - 53 17 525 (525) - 17 20 205 (205) - 20 |
|---|---|
| 4,386 96,085 (23,897) (56,310) 20,264 |
|
| Balance brought forward 2024 Income Expenditure Transfers Balance carried forward 2024 £ £ £ £ £ 9,176 142 (142) (9,176) - - 2,825 (2,235) - 590 6,910 18,625 (21,991) - 3,544 381 - (166) - 215 85 445 (513) - 17 20 175 (175) - 20 |
|
| 16,572 22,212 (25,222) (9,176) 4,386 |
The property development fund represents grants and donations raised for the building works that commenced in the year and are scheduled to complete in 2026.
The Hope Into Action house fund represents funds donated to contribute to the investment in the house.
The fellowship weekend away represents contributions to support the cost of the weekend.
The community hub fund represents a grant received to provide support for those needing a place to go during the daytime for warmth, health support and company.
The pastoral fund represents funds given to support individuals in particular need.
Church flowers - donations received in respect of flowers to be distributed.
Raised for other causes - funds raised by the congregation for other causes.
Page 14
PARK ROAD BAPTIST CHURCH, PETERBOROUGH
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2025
15 Designated funds
| Designated funds | |
|---|---|
| Legacy fund: tithe Property development Fixed asset fund Legacy fund: tithe Legacy fund: digital work Legacy fund: investigate property options Property development Fixed asset fund |
Balance brought forward 2025 Income Expenditure Transfers Balance carried forward 2025 £ £ £ £ £ 12,750 - (2,750) - 10,000 291,195 - (17,478) (144,311) 129,406 321,823 - (10,435) (1,820) 309,568 |
| 625,768 - (30,663) (146,131) 448,974 |
|
| Balance brought forward 2024 Income Expenditure Transfers Balance carried forward 2024 £ £ £ £ £ 12,750 - - - 12,750 1,825 - (200) (1,625) - 3,658 - (3,658) - - 278,214 - (7,019) 20,000 291,195 321,301 - (11,493) 12,015 321,823 |
|
| 617,748 - (22,370) 30,390 625,768 |
Significant legacies are allocated to a fund with a view to considering the best use of those funds. 10% of those legacies are generally allocated to consider additional giving to other causes within the charitable objects of the church. The balance of the legacies fund together with unrestricted funds from previous years in excess of our reserves policy have been allocated to the developing of the church property.
The fixed asset fund represents the book value of assets not included in the endowment fund.
16 Analysis of net assets between funds
| **Unrestricted ** | Designated | **Restricted ** | Endowment | Total | |
|---|---|---|---|---|---|
| funds | funds | funds | funds | funds | |
| £ | £ | £ | £ | £ | |
| Fixed assets | - | 309,568 | - | 343,258 | 652,826 |
| Debtors | 28,782 | - | 11,555 | - | 40,337 |
| Cash at bank and in hand | 318,239 | 139,406 | 8,709 | - | 466,354 |
| Creditors: amounts falling due | |||||
| within one year | (77,169) | - | - | - | (77,169) |
| Creditors: amounts falling due | |||||
| after more than one year | (195,000) | - | - | - | (195,000) |
| 74,852 | 448,974 | 20,264 | 343,258 | 887,348 |
Page 15
PARK ROAD BAPTIST CHURCH, PETERBOROUGH
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2025
17 Commitments
The charity is committed to a further £224,251 on the contract for the property development. This is being financed from the designated property development fund and loan received at the end of the year.
18 Related party transactions
The church occupies premises the deeds of which are legally held for the benefit of the church by The Baptist Union Corporation Limited which is controlled by the Baptist Union Council. The church is a member of the Baptist Union of Great Britain and the East Midlands Baptist Association (EMBA).
The Church made donations to The Baptist Missionary Society and EMBA Home Mission per Note 6.
The church is one of seven legal members of Churches Together in Central Peterborough (CTICP), a separate charity and company limited by guarantee. A contribution of £100 (2024 - £150) was made towards the work of the charity during the year. There was a trustee common to both charities for part of the year.
19 Merger accounting
On 1 June 2024 the assets, liabilities and activities of Park Road Baptist Church, Peterborough (charity registration number 1127659) were transferred into Park Road Baptist Church, Peterborough (charity registration number 1201927). The beneficiaries, purposes, trustees and members of both charities were consistent and therefore merger accounting has been adopted as required by Charity SORP. This means that the 2024 numbers in these accounts reflect the underlying finances of both charities and further breakdown is provided below. Accounting policies were consistent between the two charities and therefore no adjustments were required to align the policies.
Analysis of principal SoFA components for the previous reporting period
| Total income Total expenditure Net movement in funds Analysis of net assets at the date of merger Fixed assets Current assets Current liabilities Net assets Represented by: Unrestricted funds Designated funds Restricted income funds Endowment funds Total funds |
Charity 1127659: pre merger Charity 1201927: pre merger Charity post merger Combined total £ £ £ £ 44,366 - 89,654 134,020 (53,670) - (89,880) (143,550) |
|---|---|
| (9,304) - (226) (9,530) |
|
| Charity 1127659: pre merger Charity 1201927: pre merger Consolidation adjustments Combined total £ £ £ £ 392,928 77,839 - 470,767 369,241 - (2,839) 366,402 (350) (2,839) 2,839 (350) |
|
| 761,819 75,000 - 836,819 |
|
| 68,105 - - 68,105 536,870 75,000 - 611,870 8,354 - - 8,354 148,490 - - 148,490 |
|
| 761,819 75,000 - 836,819 |
Page 16