PERSHORE BAPTIST CHURCH
FINANCIAL ACCOUNTS AS AT 31ST DECEMBER 2024
Receipts and Payments Account
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Notes Unrestricted Designated Restricted Total Total
Funds Funds Funds 2024 2023
£ £ £ £ £
Receipts Envelopes & Standing Orders 54490 0 0 54490 51434
Sunday Collection 13382 0 0 13382 13509
Gift Aid Tax reclaimed 13449 0 1102 14551 12523
81321 0 1102 82423 77466
Donations (page 2) 1 4353 0 190 4543 2673
Investment Account Interest 3178 0 0 3178 1311
Miscellaneous 2 1791 0 0 1791 2945
Legacies 5000 0 0 5000 39225
14321 0 190 14511 46154
Designated Income (page 2) 3 0 0 0 0 99
Restricted Income (page 2) 4 0 0 24422 24422 38517
TOTAL RECEIPTS 95641 0 25714 121356 162236
Payments
Public Worship (page 3) 5 35,347 0 464 35,811 35,526
Church Premises (page 3) 6 25,443 0 0 25,443 29,103
Administration (page 3) 7 4,477 0 24 4,501 3,693
Manse (page 4) 8 14,213 0 0 14,213 10,816
Missions (page 4) 9 13,707 0 4,099 17,806 9,566
Other Expenses (page 4) 10 1,461 0 517 1,978 1,367
Restricted - Community Cupboard (page 4) 11 0 0 25,887 25,887 11,748
Restricted - Welcome Space (page 4) 12 0 0 189 189 501
Restricted - Hardship Fund (page 4) 13 0 0 1,870 1,870 0
Bank Fees and Interest (page 4) 14 157 0 0 157 167
TOTAL PAYMENTS 94,806 0 33,050 127,857 102,487
Net of receipts (payments) 835 0 -7,336 -6,501 59,749
Transfer to/(from) Light Party 18 -68 0 68
Transfer to/(from) Community Cupboard 20 3,012 0 -3,012
Transfer to/(from) Wreath Making 22 242 0 -522
Transfer to/(from) Welcome Space 23 1,200 0 -1,200
Transfer to/(from)Holiday Club 25 -402 0 682
Transfer to/(from) Donations (Resticted) 28 17 0 -17
Bank Statement as at 01.01.2024 90,902 0 34,949 125,851 66,102
Bank and Investment Accounts 31.12.24 95,738 0 23,612 119,350 125,851
Statement of Assets and Liabilities
Assets
Church Cash in Hand 45 0 0 45 33
CC Cash in Hand 0 0 0 0 0
COIF Investments Account 65,198 0 0 65,198 62,020
HSBC 30,495 0 23,612 54,107 63,798
Total 95,738 0 23,612 119,350 125,851
Asset retained for church use: 2,198,360 0 0 2,198,360 2,144,758
Liabilities
Pension Scheme Liability 0.00 0.00 0.00 0.00 30.00
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These financial statements were approved by the trustees and signed on their behalf:-
By: Date:
Page 1
PERSHORE BAPTIST CHURCH
FINANCIAL ACCOUNTS AS AT 31ST DECEMBER 2024
Financial Statements for the year ending 2024
| Receipts Analysis Notes Donations Funeral Donations Use of Buildings Event Donations Other Donations Sale of Cards 1 Miscellaneous SSE Church Electric refund Salary Correction VAT Refund 2 Designated Income Tech Fund 3 Restricted Income Audio and Video Technology Bearing Gifts Hanging Baskets Light Party Seedlings Community Cupboard Ukraine Appeal Wreath Making Event Welcome Space New Meeting Room Holiday Club Hardship Fund Craft Workshops 4 |
Unrestricted Designated Restricted Total Total Funds Funds Funds 2024 2023 £ £ £ £ £ 0 0 0 0 120 660 0 0 660 180 2643 0 190 2833 1764 1029 0 0 1029 460 21 0 0 21 149 4353 0 190 4543 2673 0 0 0 0 1336 0 0 0 0 569 1791 0 0 1791 1040 1791 0 0 1791 2945 0 0 0 99 0 0 0 0 99 0 0 0 0 3020 0 0 190 190 167 0 0 0 0 194 0 0 17 17 0 0 0 2629 2629 284 0 0 16309 16309 34370 0 0 1649 1649 0 0 0 475 475 261 0 0 0 0 5 0 0 639 639 216 0 0 230 230 0 0 0 2030 2030 0 0 0 253 253 0 0 0 24422 24422 38517 |
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Page 2
PERSHORE BAPTIST CHURCH
FINANCIAL ACCOUNTS AS AT 31ST DECEMBER 2024
| Payment Anayisis Notes Public Worship Ministry Conferences/Training Pulpit Supplies Kids Church and COG Worships Materials/Equipment 5 Church Premises Insurance Electricity Kitchen Supplies Repairs and Maintenance Cleaning and Sanitary 6 Administration BU Affiliation Telephone Copyright Licences (incl TV and CCLI) Stationary Printer Ink IT Equipment BU Pensions Deficit Software Licences Publicity and Marketting Subscriptions Training (non-ministerial) Accounting Costs 7 |
Unrestricted Designated Restricted Total Total Funds Funds Funds 2024 2023 £ £ £ £ £ 33321 0 0 33321 30964 358 0 0 358 299 593 0 0 593 342 715 0 0 715 461 361 0 464 825 3460 35347 0 464 35811 35526 2915 0 0 2915 2854 7967 0 0 7967 17329 771 0 0 771 579 11571 0 0 11571 6092 2220 0 0 2220 2249 25443 0 0 25443 29103 297 0 0 297 278 688 0 0 688 681 1581 0 0 1581 1289 80 0 0 80 27 149 0 0 149 118 0 0 0 0 299 10 0 0 10 13 712 0 0 712 734 130 0 24 154 66 96 0 0 96 108 684 0 0 684 80 50 0 0 50 0 4477 0 24 4501 3693 |
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Page 3
PERSHORE BAPTIST CHURCH
Financial Statements For The Year Ended 31 Decenber 2024
| Payment Anaylsis Notes Payments Manse Water Electric and Gas Council Tax & Garden Bin Repairs and Maintenance 8 Payments Missions Ukraine Appeal BMS (World Mission) HEBA (Home Mission) Seedlings Open Doors Faith at Work in Worcestershire Bearing Gifts United Beach Missions Barnabas Aid Crossroads Foundation Mission Aviation Fellowship FEBA MSF CARE Midlands Air Ambulance Food Bank Pastoral Care Exp (Moved from Public Worship) Ministers Emergency Fund Discipleship Resources Holiday Club Light Party 9 Payments Other Expenses Church Catering/Events Wreath Making Event 10 Payments Restricted - Community Cupboard General Fund Capital Equipment Fund Mileage Fund Training Food Fund Hampers Fund Other Costs Fund Publicity Fund Schools Work 11 Payments Restricted - Welcome Space Refreshments 12 Payments Restricted - Hardship Fund Gifts 13 Payments Bank Fees and Interest Bank Fees 14 |
Unrestricted Designated Restricted Total Total Funds Funds Funds 2024 2023 £ £ £ £ £ 612 0 0 612 535 3558 0 0 3558 4276 2173 0 0 2173 2073 7869 0 0 7869 3932 14213 0 0 14213 10816 0 0 1848 1848 0 4322 0 0 4322 2447 6174 0 0 6174 3496 0 0 1330 1330 441 0 0 0 0 250 0 0 0 0 250 0 0 228 228 143 0 0 0 0 250 400 0 0 400 200 0 0 0 0 250 400 0 0 400 0 400 0 0 400 0 400 0 0 400 0 400 0 0 400 0 81 0 0 81 90 0 0 0 0 100 548 0 0 548 643 528 0 0 528 872 32 0 0 32 132 22 0 608 630 0 0 0 85 85 0 13707 0 4099 17806 9564 1461 0 303 1764 1367 0 0 214 214 0 1461 0 517 1978 1367 0 0 436 436 933 0 0 2384 2384 13 0 0 6753 6753 4775 0 0 347 347 199 0 0 6038 6038 3452 0 0 2220 2220 2027 0 0 741 741 324 0 0 213 213 25 0 0 6756 6756 0 0 0 25887 25887 11748 0 0 189 189 501 0 0 189 189 501 0 0 1870 1870 0 0 0 1870 1870 0 157 0 0 157 167 157 0 0 157 167 |
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Page 4
PERSHORE BAPTIST CHURCH
Financial Statements For The Year Ended 31st December 2024
Receipts and Payments on Restricted Funds
| Purpose of Fund Note Audio and Video Technology 15 Bearing Gifts 16 Hanging Baskets 17 Light Party 18 Seedlings 19 Community Cupboard 20 Ukraine Appeal 21 Wreath Making 22 Welcome Space 23 New Meeting Room 24 Holiday Club 25 Hardship Fund 26 Craft Event 27 Ladies Vision Day 28 |
Balance at Receipts Payments Transfers Gift Aid Balance at 31.12.2023 in 2024 in 2024 in 2024 Recieved 24 31/12/2024 £ £ £ £ £ 0 0 464 0 750 286 91 190 228 0 15 68 40 0 0 0 19 59 0 17 85 68 0 0 0 2,629 1,330 0 0 1,299 29,894 16,309 25,887 -3,012 319 17,622 0 1,649 1,848 0 0 -199 261 475 214 -522 0 0 4,446 0 189 -1,077 0 3,180 216 639 0 0 0 855 0 230 632 682 0 280 0 2,030 1,870 0 0 160 0 253 130 -123 0 0 0 190 173 -17 0 0 34,949 24,612 33,050 -4,001 1,102 23,612 |
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15 £3020 was donated in 2023 to allow the purchase of new audio and visual technology, used as part of our Worship Equipment. We were able to claim £750 Gift Aid on this gift.
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16 As a church we take part in a project at Christmas to provide gifts for lor local familes. Donations for this are received and we were able to claim £15 in Gift Aid
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17 The membership did not approve the purchase of hanging baskets this year, so funds will be carried forward to 2025, including £19 Gift Aid from donations made last year.
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18 An alternative event to Halloween is laid on by the church. This year gifts received did not cover the costs to run this event, therefore £68.11 from unrestricted funds was used to cover the shortfall.
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19 Donations collected at the weekly baby/toddler group, 'Seedlings', and a grant from Worcestershire County Council meant that income exceeded costs.
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20 The Community Cupboard continues to transfer a monthly sum of £250 in to the General Fund to help with the heating and lighting costs and a further £11.81 was transferred to cover their share of the banking costs. This figure also includes £318.51 gift aid reclaimed on eligible donations.
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21 The church collected gifts on two occasions in 2024 to support two charities working with the Ukrainian people. Gift Aid has been claimed on eligible gifts in the first collection, but as of the end of 2024 had not been claimed on the second. However, an amount equivalent to the known GIft Aid sum was included in the gift sent to Dnipro Hope Mission. Once that Gift Aid has been received it will be assigned to the Ukraine Appeal fund, and therefore give a zero balance.
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22 It was agreed that excess funds of £241.67 from the Wreath Making Workshop in 2023 be moved to unrestricted funds. Excess funds of £280.12 from the same event in 2024 were transferred to the Holiday Club fund.
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23 This project, originally funded by the National Grid, enables the church to open for anyone twice a week, to receive a warm welcome, and a new monthly Saturday event has been started for crafts. A monthly sum of £100 is transferred into the General Unrestricted Fund to help with the heating and lighting costs.
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24 Fund raising continues to provide a new space for our older children's activities and church use.
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25 Expenses for the children's Holiday Club held in February half-term exceeded gifts made. It was agreed by the church members that the shortfall of £402.08 would be met using unrestricted funds. Subsequently it was agreed that excess funds of £280.12 from this years Wreath Making event would be transferred to the Holiday Club fund.
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26 In February, the deacons decided to set up a Hardship Fund from which, with the agreement of the deacons, gifts can be made to help/support those in our fellowship and local community, who would benefit from a helping hand.
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27 A monthly Craft morning was started and as this is now seen as an extension of our Welcome Space project, excess gifts of £123.28, originally made for the Craft activities, have been transferred to the Welcome Space Fund
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28 It was agreed that the excess funds of £17.30 received towards the costs of the Ladies Vision Day should be transferred to the General unrestricted fund.
NOTES REF UNRESTRICTED FUNDS
- The balance of the unrestricted funds of the Church December 2024 £95738 (2022 £90902)
Page 5
Bank Rec as at 31st December 2024
| As per Bank Statement HSBC 31/12/2024 As per Bank Statement CCLA 31/12/2024 Church Cash Retained 31/12/24 Opening bank 1st January 2024 HSBC CCLA Cash Plus income Less expenditure |
54107.06 65197.83 44.66 119349.55 63797.47 62020.21 33.03 125850.71 121355.51 247206.22 127856.67 119349.55 |
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Page 6
PERSHORE BAPTIST CHURCH
FINANCIAL ACCOUNTS AS AT 31ST DECEMBER 2024
Notes to the accounts
1 Basis of Accounts
These accounts have been prepared on a ‘receipts and payments’ basis and in accordance with Section133 Charities Act 2011
2 Ministry
The minister acts as one of the church’s trustees and receives renumeration and other benefits in respect of his services as Minister, including the provision of Manse accommodation owned by the church.
3 Assets Held for the Church’s Own Use
The church is the beneficial owner of the following assets (subject to the relevant trusts) of the following assets. The legal title to which is held by the church’s custodian trustee, the Baptist Union Corporation Limited.
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Church premises at Broad St, Pershore Worcestershire WR10 1AY valued in the accounts at £1,403,021 based on insured value.
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Church manse at 2, Broad St, Pershore, Worcestershire WR10 1AY valued in the accounts at £795,339 based on insured value.
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The church also owns fixtures, furniture and equipment with an insured value of £184,499
4 Pension Scheme Liabilities
The Church is a participating employer of the Baptist Pension Scheme (“the Scheme”), which is a separate legal entity administered by the Pension Trustee (Baptist Pension Trust Limited). The assets of the Scheme are 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.
A formal valuation of the DB plan was made 31 December 2019 by a professionally qualified Actuary using the Projected Unti Method. At the valuation date the market value of the DB Plan assets was “298 million, whilst the level of assets needed to pay benefits was £316m, giving a deficit of £18m (equivalent to a past service funding level of 94%). The Church and the other participating employers in the DB Plan were collectively responsible for funding this deficit.
On June 30[th] , 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 update 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. These ceased in November 2024. The outstanding deficiency contributions due under the Recovery Plan are not considered material and therefore have not been included in the balance sheet.
PERSHORE BAPTIST CHURCH
FINANCIAL REVIEW FOR THE YEAR ENDED 31[ST] DECEMBER 2024
The church is registered with the Charity Commission and has the Charity number 1204931. The main layout of the accounts this year is once again very similar to previous years and is based on advice from the Baptist Union. The receipts and payments are divided into ‘Unrestricted’ and ‘Restricted’ funds on the following basis.
-Unrestricted funds can be used in accordance with the objectives of the charity at the discretion of the church membership or, where agreed, the trustees; and
-Restricted funds are given for particular, restricted purposes and can only be used for those purposes by the church membership or, where agreed, the trustees.
The aim of this division is to give members more information and confidence that their giving has been, or will be, used as they have decided.
The overall financial result for the year was a deficit (an excess of payments over receipts) of £6501 on the total funds. This was due to an agreement that restricted Community Cupboard funds should be spent before applying for any more grants.
The financial result for the year on unrestricted funds was a surplus (an excess of receipts over payments) of £835. As our church continues to grow, our regular unrestricted giving increased by 4.5%. This was encouraging since the requirement to meet the 2024 budget was an increase of 4.1%.
The continuing work and mission of our church depends greatly on those who make gifts faithfully and consistently. We can claim Gift Aid on most of these gifts and on a proportion of small cash donations received.
As with many churches our income was used mainly to fund the costs of employing a full-time minister and ongoing running costs. Extensive roof repairs were carried out to both the church and manse roofs, but more internal redecoration work, to a room in the manse is required due to the damage caused by water ingress. The BU did not approve the plan for creating a new room on our balcony, so further ideas need to be explored to create the space for the needs of our growing church, and funds will need to be made available.
The total unrestricted expenditure for the year was 7.1% over budget. This was due to roof works, the cost of which we had already agreed would need to be met from reserve funds, if annual income was not sufficient. However, we were blessed with additional gifts, two legacies and transfers from restricted funds which resulted in a surplus of funds.
The Community Cupboard continues to see an increase in the number of baskets of food it provides and expanded its school’s work. As last year, income exceeded expenditure the trustees asked that applications for grant funding be reduced. There was also a reduction in individual and fundraiser gifts. At the end of the year the expenditure had exceeded income by 74%, with the total amount now held in the Community Cupboard being £17,622.
The Welcome Space project continues to provide valuable outreach to the community and now includes a monthly Saturday gathering called Craft Cuppa. Money from the original fund along with occasional individual donations is used to provide refreshments and make monthly contributions to the church’s heating and lighting costs.
Our grateful thanks to Ann Dobbins for her diligent work and advice in giving the Independent Examiner’s Report on the Accounts.
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