**PERSHORE BAPTIST CHURCH** ## **FINANCIAL ACCOUNTS AS AT 31ST DECEMBER 2024** ## **Receipts and Payments Account** **----- Start of picture text -----**
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
**----- End of picture text -----**
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| |---|---| 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| |---|---| 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| |---|---| 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| |---|---| - _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._ - _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_ - _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._ - _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._ - _19 Donations collected at the weekly baby/toddler group, 'Seedlings', and a grant from Worcestershire County Council meant that income exceeded costs._ - _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._ - _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._ - _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._ - _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._ - _24 Fund raising continues to provide a new space for our older children's activities and church use._ - _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._ - _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._ - _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_ - _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** 1. 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**| |---|---| 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. - Church premises at Broad St, Pershore Worcestershire WR10 1AY valued in the accounts at £1,403,021 based on insured value. - Church manse at 2, Broad St, Pershore, Worcestershire WR10 1AY valued in the accounts at £795,339 based on insured value. - 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. (HARITY (OMMISSION FOR ENGLANO AND WALES Independent examlnerfs report on Ihe accounts Sect*DTr A Indgyèiid*)l Exan)Iner's Report REporl tv the Iruste rnembe￿ of )ERSHORE 8APIIST CFKIRCH On accounts f(Y the yeBr 31 tkn'cft)tkr 2024 ended Ch•rfty ng Ilf any 12(N1931 S•1 out on pa1￿ , 1 _ 6 of the Financial SFdi¥m•r l lo the tN$t￿¥ ￿ my 6xaminaiion ofthe acctjunlb ol th9 abov8 M*1*1'lhg Trust.) for the ye8r end8d 3111212024. R•sFJQTr4ibli ille5 and AÉ tM tharity trusteej ol Ihp Tw¥l, yuu we wpomibb trJr1ho preparniion basls of rEPOrt nl thf5 a￿UunIS in ￿COrdanCe ￿th tho r0quir0m￿ts of the ACE 2011 {'Ilw Acr). I report in rè¥ect of my examinaknn rA IhA Trust's acc(wrrts ¢aM&Y out urK>er sed*Jn 145 of tha 2011 Act antt in c8Jrying oul my oxaffjination. I hav8 foll(Yh*d tbp. %r4]hc¥bi¥ Dir@¢Jb)ns given by Ihe Charfty Commts8r)n urHJur bf•L#kn 14g5Xb) of Ihe Art. I liav8 tompl8tsd my exwninalw. I tonllrm that no Th*Arial mijlkrs have CO￿ to my attvnb.uii in ￿nnetr.10n IhA AxAmin￿50n ￿th1¢h giyub nig e to believp trol iri, any rnaiortal resppr. ar(x]uiilino i￿orty$ W•ere not k¥pt kn accordonrF. s£¢tion 130 of the Ac, I haye no conThTh and hRV8 acro88 no oltrftr matsrs h ￿nn&*i￿n wf(h Ihe ÈXAminal'on to ivtt￿h attvnliop. Éhould be drnvn in i)rrJ41 Lo onatle 8 proper und0f8t￿dkn9 acrnurtS tj r¥¥h•d, Ind•pendent ex2mlnè¢6 $tat•n*nt SlqnEd: 24tr Fubnjary 202J Nama: i Ann M Dobbns ReltV8nt wofv6donal , A.C.l.B. quallllcation(s1 or 1K￿Y ' (If any): I.. Addr•És: 15. hJlEsiNJii)uyli tjlvo Per8h¢Jra WR10 1JH Soctior) L3 Disolo¥iir ￿￿)plete If the exRminAr hwhlighl matt¢rs ot conceffllsee CC32, IndèpAneonl cxaTr.inats'on of cn9flty ¢icwJnis.' dwectitiri% arid 9uld8Dce fts. ex3min9.￿ .