Charlty numb•r: 205094 & 223171 ST ANDREWS STREET BAPTIST CHURCH TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 ST ANDREWS STREET BAPTIST CHURCH CONTENTS Page Refergnc• and admlnislrative d•iails of the Charity, its Trnstees and advise Trust••s' r•port Ind•p8ndont audltors. roport On th• Ilnan¢S•l •tst•m•nts Statgmont ol flnanclal ￿tI¥ll1•S 10 Balanc• gh••t Not•s to th• flnan¢l•l $tst•m•nts 12-32 The folbwing pages do nol lorm part of the stalutory financtsil statemefts.. D•talled Incom• and •xp•ndltur• account and summ•tl•* 34-38 ST ANDREWS STREET BAPTIST CHURCH REFEREhlCE AND ADMINISTRATIVE DETAJLS OF THE CHARI￿, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENOED 31 DECEMBER 2023 Trusteès Dr Keniiro Hori. Church Treasu￿1 Christine Thomason. Church Secretary Rewd Dr Stephèn Langford, Interiffl Minist•r Ir&$ignod 31 January 20241 Jack Boyns. D¥a¢on (resigned 19 May 20241 Alison Brctk, Deacon Elvzabeth Rademwr. Dèacon Geoff Warr￿. D*a¢on lappoinled 21 May 2023) Bob Gartand. Deacon (appointed 19 May 20241 Charlty r•gl8t•rod numbèr 205094 & 223171 Prlnclpal oftt¢• Sl Andrew's Street Baptssl Churth Sl Andrew's Streel Cambridge Cambridgeshirè CB2 3AR Indèp•nd•nt #ydltors Whrtings LLP Slalulory Auditor Greenwood Hous• Greenwood Court Skylinef Way Bury St Edmunds Suffolk IP32 7GY Bankè Lloyds Bank plc 3 S¢dney Slra8t Cambridge CB2 3HQ Soll¢ltors Nockolds Mathet Sq41gr* Bishop's Storrfor Hertfordshit6 CM23 3UZ Proporty Trust8• & Advlsors Tho Baptist Unw Corporat*￿ Ltd Baptist Hou30 Br¢adway Didcot OX11 8XD Page 1 ST ANDREWS STREET BAPTIST CHURCH TRUSTEES. REPORT FOR THE YEAR ENDEO 31 DECEMBER 2023 The Trustees pre5erl their annual report Icgether wrth the audrted financial 5t8ternBnts of th• Charity for th6 year ended 31 December 2023. Stru¢turg. gov•rnan¢• and manag•m•nt . CONSTITUTION The Church has Charitab￿ status rtgisteréd vAth the Charity Ctynmks$ion, under relerences 205094. Non E¢¢lesiasiical Chari11¢$ ot St AntJr¢v/$ Strtrel Baplist Chuf¢h" and 223171; "Sl Arndrev/s Street Baptist Church Trust Funds And Property Heid In Connexion Wrth.- The Church, it5 assets and actNilies compri58 one unit for repo￿"n9 purpo8e8. Thi principal obi8¢t ol thg ¢harity Is lo prowde a $rt• lo b• us•d. •njoy•d and occupied, as and lor an assembly. Of place of rnèeting for relKJious wotship by th• church soci•ty or wn9walion ol protest and dissenters of the 8aptls1 denomination. and by su¢h oth$rs a$ hereafter Shall ¢omo into Ihe said society. or attend the worship ol In Ihal pla¢*" b. METHOD OF APPOINTMENT OR ELECTION OF TRUSTEES A trust deed of 1764 pro¥￿ed lor a body of truste￿ who w¢ro rt$ponsibb for the custody and manag6ment of all land and bU1￿1n95 held by the trust. On 4th May 2021 the propety Iruslees, responsibilities were transferred lo the Baptist Union Corporation IBUCI, a trust company fomied in 1890 wh￿h take on the role ol property trustee for many 'Socal' baptist church&$ Ihroughout the counlry. The 8UC respecl Ihe autonomy of Ihe I￿al church and reco9ni6e that th& pn¢rily for the church is lo be engaged in vital mission wot*" The BUC Iheielore wew rts purpose as helping tcs la¢ilrtat¢ this by abs¢rblng most of th¢ burd8Tr and distraction that comes wrth being propety Iruslees. such a5 property transa¢tion$ 8nd btsilding aftern1￿n8. Thèir adwcè covers legal, prop&rty linance and charity rnatlers, The ¢Jay lo day managemgnl ol the Chur¢h and its affairs IS the resporjsibilty ol the Managing Trustees which ¢¢mpri$*s the MinTrsters. Chuf¢h Offi¢èTS. the Sé¢ieiary and T￿asUrer, and thè Church Deacons. Minislers hold office for the dvration of the 8ppoinlm¢nt. Chvr¢h offi¢ers are ffr818et8d each year. Deacons hold office for 4 years and are eligible loi reappoinlmenl after a year ol absence. The Memb•rs coming together in general Church Meeting. carry uttimate responsitslty lor (kn5￿n5 ol the Churth. ¢. POLICIES ADOPTED FOR THE INDucnoM AND TRAINING OF TRUSTEES All new trustees a￿ drawn from the membership of the Church and are already farniliar with th8 aims and objectives ol the Charty. They are given in1ormat￿ and training in their duties and responsibilities 88 twstees of a regISte￿d charity. d. PUBLIC BENEFIT The Trustee5 confim that they have complied witl) thair duty under seCt￿rn 4 of the 2011 Charities Act lo ha due regard to guidance published by the Chanty CommissK)n. Including public benefit guidance, and are satisfied that th* a¢tivits8s ol thè Church meèt thesè r￿u*r￿m￿ntS. Page 2 ST ANL)REWS STREET 8APTIST CHURCH TRUSTEES. REPORT IcoKfiNUEDI FOR THE YEAR ENDED 31 DECEMBER 2023 Structurn, gov•Tn•n¢e and management {contInU￿) •. RELATED PARTY RELATIONSHIPS None of the Truslees receiv￿ rtmunertDn or other benefits from th•ir worth wrth th8 charity as Trustees. The Interim Church Minister is fèmunerated as an office holder of the chanty. Details of transactions wrth Trustees and members of the Diaconate arg lulty disckjsed in r¢ote 21. There arè no rdaled p8rties undor ￿mmOn control. or under the control of the Trust. nor is the Trust under Ihe contrd of any othér party. I. RISK MANAGEMENT The Trustees regulaily as$¢ss Ihe maior ¥iskg lo wh￿h the chafty is •xposed. In parti¢ul8r thosè related lo the operations and financas ol the charity, and are satisfied that systems and procodurès A￿ in place lo mitigatg any exposure lo the major risk$. Obl•ctlv•# •nd Actlvltles . POLICIES AND OBJECTIVES The Central objective of the church is th¢ sp￿3￿1n9 of Ihe Gospel of OUT Lord Jesus Christ. Poliue5 adopted lo achieve this objective are spintual support ftsr Ihe membershtp. encouraging and equipping members lo sproad the Gtrsp&l within the bcal commtsnty and activ? support to mission and outreach in the wKl•r worfd. Th& Church Meeting adopted a wrilltn constrtytton in 2001. confirming ils longtheslablishad pol￿18$. There has b6en no ¢hang¥ in the past year. b. ACTIWTIES FOR ACHIEVING OBJECTIVES Normalty, one 6ervice ofwofship takes pb¢t each Sunday. Icgether with adivittes for children gnd youftg p￿p1*. On occasions the Church organiség. or hosts. 5pe¢ific even15 aimed at a wider audience. Various a¢livilies take place dunng the week. m8éting th¥ needs of Specific gTOUP5. lor example men, women, older a9é group$. ytsuth, paren15. young families, and more reeenlty. thè rough sleepers and Ukrainian ￿￿gees. Achl•vèmènts and p•rtormance . GOING CONCERN After making appropriate enquiries, the trustees have a reasonable expeciatKJn that th& charity has adequat¢ re80urces to continue in operat￿nal exislertce for the foreseeable fulure. For this reason they C(￿linU8 to adopt the going concern basis in Pf•paring the finantyal statements. Further delails regarding the adopt¥)n of th• going concern basis can be lovnd in Ac¢ountin9 Pol￿￿. b. REVIEW OF ACTIVITIES Dursng the year the Church ha5 continued lo undertake a wde range ol activities in pursurt of its objectives, in particular an invofvemènt in a number of'outreach. adivities wrth tho ktal and wrtlèr community of C8mbridge. Livingstones Cafe, a subs￿lary of the Church (note 231 ceased lo trade during 2021. It was deemed by the Church lo havtr carried out pnmary purpose trading. in that ils aims were basically the samtr as the'parenv body, namety, it was a harKls on outreach lo the communty in the CatnbrFdge ar¢a. The Christsan nature csf its activities were prominenuy displayed, with information. advth and counselling upon Christian matters being ieadily available. Page 3 ST ANDREWS STREET BAPTIST CHURCH TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2023 St Andrvw's Slreet Baptist's kitchen became part of a partnership of orgaDisalions lo provide food lor those who had been rough sleeping and were accommodated in hotels under covid. At most thgrè wgr* 120 in ccorrmodation at any one time. The Church worked with Cambndge Salvalun Army and rough Sleeper charity Winlercomfort to provide 3 meals a day throughout the Wint￿ months. More recently. the Church ha5 become 8 hub for Ukrainian refvgees. On a busy day Ih&re are over 100 Ukrainians present in the buÈldin9, using tt as a 'wami hLtb', having refreshments, joining in English convefsation gTOUPS or formally tsking part in Engligh language classes. 40 St Aftdra￿s Slreet. now kn¢)wn as 'No.41Y. was for many years rented out to Blue A￿aw, owned by Impellam. Once Covid struck thèy mtsved their business online, and in October 2020 Ihey finally decided to end their leaG$. In 2022 tho Church voted to wdmmo Cambndge Youth loi Chn$t Inlo the building. fulfilling a long-held desire 10 U8¢ th¢ prèmises In the mis$ion of God. Th¥ i$novation ol thè building was ¢ompl•t•d in 2023 and it tb)w houses Cambndgè Youth fvr Christ during the wth, as a$ bging by ¢thef groups including the Church includin9 Sundays. ¢. INVESTMENT POUCY AND PERFORMANCE The Tru51ees. having regard to the liquidity requirements of operating the Chur¢h. havo kept the majority ol available fund5 in interest bearing deposil accounts. The invested lund5 hekl on deposit achievod an avera9e rale o11.24Q/o lor the year. The Church has also invested In an Equity Fund man89ed by Epworth Inv*stm&nt Manager which rnanages inveslments consislent wrth Christsan eth￿1 principles. Flnan¢lal r•vlew Net deficil lor the year Ir¢)m ordinary a¢t1wt￿S bgfor8 Imi6stm8nt gains1ll0￿e8I was £188.98412022- galn of £59,2S91. Direct charrtablè giwng was almost •ntirety in r•lation to th• Church's policy of misslon. wslh substantial amoun15 towards th& support ol Baptist ¢hur¢hes in th¢ UK. and to BMS Wodd Missi¢n. A si9nilicant proportion a150 went dire¢tly lo a numb¢r of individuals whts are working in th¥ rn1s$40n field and on missioftary projects. Providing for the needs of the membership. othe¥ organ15alions and the use ol prgmi$g$. via lettings, as an additional source ol income. means that a s￿n￿Kant proportion ol expendituw 1$ taken up by the upkeep and mainlen#nce ol the Church. Manses and the very eylensive buildings ¢ollectNety as the Stoneyard Cenlre. . RESERVES POUCY The Trustees, policy on Reserves inVo￿e$ planning to achieve and maintain levels thal are ne¢essary an reasonable in respect of th6 aims and objectives ol the Church, including mairslenance of th¢ f¥bri¢ an equipment. The poliy Is revithyed annualty Ythen the budget is presented. The trustees are sat15fied that the pfesenl level of uncommrtt8d 18s•rv•s Is adequate to meet Church's needs in Ihe forthcoroing pefi<)d. Plang for future perlods . FUTURE DEVELOPMENTS The church plans to continue wth a range of &tNitie5 to meet ts purpose as a Christian church and as a membar of the 8aplist UnK*n of Great Bntain. Page 4 ST ANDREWS STREET BAPTIST CHURCH TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2023 Statement of TfUSt•qs' responsibblltles Th$ Trustees are responsible for prewng thg Trustee5' report and the financial st*emenls in accordance with ppI￿able law and United Kingdom A¢¢ounling Standard5 Iunrtgd ￿"n9dly￿ Generally Accepted Accounting Practicel. The law applicable to charities in England & Wates reqUI￿S Ihe Trustees to prepare financial statèmènts for each financial year which give a true and fair view of the state of affairs of the Charity and of its incoming resources and application of ¥esources. induding its income and eypenditure, for that period. In preparin9 these financial slalemenls, the Trusl¢trs are required to.. selec¢ surtable accounting pd1¢￿5 and then appty theffl c1￿￿51enI￿, observe the methods and prificip￿s of the Chaiilies SORP 2019 IFRS 1021.. make jLt(Igem*ftts and accounting estimates that ar• reasonable and pwdent,. p￿pare the financial statements on the going concern basis ￿n￿$S st is Inappropriat& to prasumè th8t tho Charty will contsnue in bu$in•ss. Th• Trust&o$ arè responsible for keepin9 adequate a¢¢ounting r¢¢ord$ that are $uffi¢ienl 10 show and explain th¢ Charity's transaclions and disclose reasonabl& accuracy at any time the fin3n¢*al posilw of the Charrty and $nabie them lo ensure that the financial slalements compty with the Chanti8$ A¢t 2011, Ihtt Charty IAc¢ount$ and Reports) Regulations 2008 and Ihe provI￿onS ol the Trust d¢od. They or• also rtrspon5ible for sofo9uar¢Jing the assefs of the Chanty and hèn¢¢ for taking r*a$onabl¥ $t¥ps for the prevention and detection of fraud 8rtd other irregularities. This report was approved by the Trust••8, and swnad on thoii b¢haM by.. DrKHorf Church Treasurer C Thomason Church Secretsry Dale.. b/f/,* Page 5 ST ANDREWS STREET BAPTIST CHURCH INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF ST ANDREbYS STREET BAPTIST CHURCH Oplnlon We have audited the financial statements of St Anflrewls Street 8aptist Chufch Ilhe 'chariVI for Ihe year ended 31 Decernber 2023 which comprise the Slalement ol financial activittes, the Balance sheet and the related notes. including a summary ol sKJnrficant accounting policies. Thè flnancial reportin9 Itamework that has been applied in thèir prèparation is appl￿b￿ I￿ and Unitad Kin9dtyn Aecwnting Standards, includin9 Financial Reporting Standard 102 The Financtral Roporting Standard applicable n the UK and Republ￿ of Ireland, (United Kingdom Gon$ralty A¢¢$pl￿ Accountlng Practi¢el. The financial statements have been prepared in accordance with Accounting and Reporting by Charit￿$ prepanng their accounts in accordance with the Financial Reporting Slandards applicable in the UK and Republi¢ of Ireland IFRS 1021 in preference to the Accounling and Reportin9 by Charities.. Statement of Recommended Practice issued on 1 April 2005 which is refer￿ to in the extant re9ulations but has been withdrawn. This has been done irt order lor the accounts to Pyowde a true and fair view in accordance with tho Gonerolly Accepted Accounting Piactice effective for reporting periods beginning on or after 1 January 2015 In oui opini¢n the finon¢ial $tal•menl$". gwe a Iru• and laii VI￿ ol thè stala of th8 chaiity$ affairs as at 31 D￿mbar 2023 and ol its incoming resources alld application ol resources for (he year then ended.. have been properly Prepa￿ in a¢cordarKe with Uniled Kingdom Generally A¢¢epted Ac¢ountsn9 Pr8¢ti¢¢." and have b&en prepaf•d in accordance wrth Ihe requirement$ ol thè Charities Act 2011. Basls for oplnlon Wo ¢onducted ¢ur audrt in accordance wth International Slandards on Audrting IUKI IISAS IUKII and applicable law. Our responsibilitie5 under those standards are further described in the Auditors. ￿SpOnSIbl1111es lor tha audit of the financial siatements section ol our report. We a￿ independent ol the chanty In accordance with the ethi¢al requirements that are relevant to our audil of Ihe financial statements ITh the Uniled Kingdom. in¢ludin9 th8 Finanaal Reporting Council's Ethical Standard. and we have fu￿111ed Ouf Other ethical responsibilrties in accordance with these requirèments. We believe Ihat Ihe audrt •vidence we have obtained Is sufficient and appropfiale to prowde 8 basis for our opin￿n. oncluslons rglatlng lo golng concern In audrtin9 the fin8nci815tatem•nts, w& hav• concluded tr￿t the Trustees. usè ol the going con￿rA basis of a¢¢ounting in th¢ preparation of th¢ fina￿la1 $tat¢m¢nls 1$ aPPfopr¢ale. Based on the work we have pertomwd. ￿ have nol Klenti￿ any mat&rial uncertainhes relating to events or conditions that, indNKlualty or collethety, may cast Sl9nfficant doubt on the charrty's abilty lo continue a5 a going concem lor a per￿d ol at ￿ast twdve months from vthen the financial statements are authDrised for issue. Our re5pon5ibilities and the ￿Spon￿bil￿les of the Truslees wth resped to going concem are describèd in the relevant Sect￿n$ of this report. Page6 ST ANDREWS STREET BAPTIST CHURCH INDEPÉNDENT AUDITORS. REPORT TO THE MEMBERS OF ST ANDREWS STREET BApnsT CHURCH ICONllNUEDI Other Informatlon The other infomwlion comprises the infomutton includa(l in the Annual r¢part othef than the firnan¢i¥l $ts1gments and our Auditors, report thefeon. The Trustees are rèsponsiblè for Ihe other infomation ¢ontained wthin the Annual report. Our opinion on the financial stat&ments does not ¢over the other inft)matton and. except lo the extent otherwi8e explicrtly stated in ouc r•porl. we do not expros$ any fom of as$uran¢tr wnclus￿n thereon. Our responBibilrty is lo read the othèr infomatin and. sn d¢ing so. con6id8r whethgr the oth8r information is rn8terially inconsiBlenl wilh Ihe financiaj statemgnts or ts￿r kn(*vledge obtained rn the ￿urSe ol the audrt, or otherwise appears to be mater￿lty misstaled. 11 w¢ hgtrntfy $u¢h rrat?rial in¢on$ist?n¢itrs or apparent rnalerial mlS8tatements. we are required to detemiine whelhgr this gNes ilse to a rnaterial ni55tslement In the financial slalemenls themselves. 11, based on the woth ￿ have performed. we ¢ondude that ther• is a material misslalement of this other infom)ation, wè arè wuiied to report that fad. W* h8v$ nothing to report in this regard. Matt8rs on whlch w• ar• réqulr•d to r•port by vxc•ption havg nothing Ic* report in ￿spect ol the folbwing matt8fS wh•re the Chorrties (Accounts and Report$l R•gulations 2008 rwuires us lo report io you rf, in our opinion.. the inlomiation 9￿￿ In Ihe Tru5tee3' report is inconsislenl in any matsrial re&pecl with th• financi81 slalements., or $uffi¢ient accounting records have not been kept.. or th& financial st•lemenl$ are not in agreemenl with the accounling records and returns., or we have not recei￿d am the infomation and eyplanatKJns we require for our audit. Responjlbllltles of truste Ag explain•d MO￿ fulty in Ihe Tnjstees. Tespon5t*ilrties slatement, the Trustees are fesponsible lor the pr¶titrn ol the finan¢ial ¥tstements which give a true and fair view. and for such intemal control as the Trustees dolermittè 15 rwssary to enable the 9￿PaRtI)n of finarKial slatements thal are fre• from malarial misstatement. whether due lo fraud or erTOr. In preparing the financial ststgments. the Tw8tees are resFonsibb lor 83ses8ing the charitys ability lo continue as a going concem. di5c105ing. 05 applirable. rnatters re￿Ied to going concern and using Ihe going concern basis ol accounting unl6ss Trustees erther tnlend to14uhl8te the Charty or to cease operations, or have no r&alistic atternative but to do $0. Page7 ST ANDREWS STREET BApnsT CHURCH INDEPENDENT AUOITORS. REPORT TO THE MEMBERS OF ST ANDREWS STREET BAPnST CHURCH ICONTINUEDI Auditors, r*spon54biliites for the audit of th• financtal statements We have been appointed a$ audttor under sethon 1*14 of Ihe Chants•s Act 2011 and report in accofdance with thè Act and relavant regulations mad• or haw'ng offact th•r￿nder. Our objectives are to obtain ￿asonable asstsrance about whelher the financial ststernent5 as a whtsltr are free from material mi8Stalement. whether due to fraLtd or efror, and lo issue an Audrtors. report that includes our opinion. Reasonable assufance is a high of assurance. but is not a guarantee that an audrt condLtrttrd ITh accordance wilh ISAS IUKI will aw detect a material misstatement when il exists. Mi8Stalem8nts can arise from fraud or error and a￿ covsK1ered material rf. individualty or in the aggregate. they could reasonably be pected to Influ￿Ce the eccffiomK deusion$ of users taken ¢Jn the basis of these financial statern8nts. Irregularrties. including fraud. afe instances of non￿Mpl￿80ce with laws and regulatfrons We design pro¢¢dur¢s in line wth Ouf reyponsibilities. outlined above. to delect material rnisslaterner15 in respect ol irr$9ulariti¢$, including Iraud. The exlelll lo vthich our pr¢xedures are capable ol detecting irregul8rilie5. sncluding fraud Is detailed bebw.. Enquiry ol managemtnl about any kntywn or Suspected inslan¢e$ ol nontabl• activith￿ and GO￿rnanC• ¢OSt$ arè cost$ in¢un•d on tha charity's educatK*nal operations. including support costs and ¢osl$ r¢lating to the goveman¢? of th$ tharity apportion8d to charitable a¢tiviliès. 2.5 Tanglbl8 flxgd a$$•ts and dgpr•¢latlon Land and buildings ¥1• stated at Insuian¢e v¥luaiion. r¢piestnting replacèment cost, purchase price lin¢ludin9 improvem•nt$l Of probate valytr Iin reS￿cl of legacie5 01 prOpert￿S). in a¢¢ordanc& with available hi3lori¢81 informal￿n. An annual impairment review is carried oul tc* assess whalher the recovgrable amount of land and buildirsgs is al least as much as the c*rryng value In the account$. On thi5 basis, no depreciation Is deemed necessary in respect of 18nd and buildings. A provislon would be made for any peimanenl diminution in value. A ￿VIeW for impairment of a fixed asset is carried out il events or changes in circum5tance$ iTrdi¢al* Ihat the carying value of any fixed assel may not be recoverabk. Shortfalls be￿een the carrying value ol fixed assels and their recoverable amounts are recognised a5 impairments. Impaiment losses are recognised in the Statement of financial aclivrties. Heritage property include$ tho Church and 1$ ¢la$sihed as hefrtage prop&ty based on the contribution of the Church to knowledge anfl ¢uttur¢ whi¢h 1$ an¢illary to faith and othar purposas. T8n9ibb fixed 0$501$ are ¢arned at cost. net of deprec¢ation and any provision for impaimient. Depr•¢i•tion 1$ provKl¢d al rates ¢•l¢ulated to write off the cost of fixed as$g1$. léss their estimated resKlual value, over their expecled useful lives on the folbwiThg baseB." Freehdd property Hentage property Office eqvipmenl - no depreciatKJn charged - no dep￿lat￿)n charged 20% straighl line Further derails regarding valuatw)n can be found in note 10. 2.6 Investrnent PropertSes Investment properti8s ale in th• balanc• She￿ at fail value (open markel value) and are not deprec¢ated. Further details re9ardiny valualK)n can be fwnd in n￿* 11. Page 14 ST ANDREWS STREET BAPTIST CHURCH NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Accounting policies IcontJnu6d) 2.7 Inv•stm•nts Fixed asset invè$tments ar* ¥ foFrn of fin8ncial instrumènt and a￿ initially r$¢ognlsod 8t thèir transaction 8nd subsequently measured at fair value at the Balance sheet date. Investment 9ains and 10$5es, whether realised or unrealÈsed. are combined and presented as'Gain8llLosBesl on inveslmenls. in the Statement of financBI activities. 2.8 Int•r•$t r•¢•lv*ble IntST8St on funds held on deposii 15 included when receivable 8nd the amount can be mèasurad liably by th? Charity, this is normalty upon nottficalion of ihe Jnlerest paKI or payablè by the Insl+tution vAth whom Ihe fvnd8 are deposited. 2.9 D•btoT¥ Trade and other deblofs a￿ recognised al the settlement amount after any trade discount offered. Prepayments are valued al the amount piepaKI nel ol any trade discounts due. 2.10 C•Jh at bank •nd In hand Cash 81 bank and In hand indudes cash and short4eTm highly liquid investments with a short maturity ol three months or less from the date of acquisition or opening of the deposil or similar account. 2.11 LIabllhI￿ and provlslons Liabilities are recognised when theTe is an obligation at the Balance sheet date as a re5utt ol a past ¥venl. it 15 probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliab￿. Liabilrtie5 a￿ recognised at Ihe amount that the Charity ant￿Ipate$ Il w¢ll pay to selue the debt or the amounl it has received as advanced payments for the goods or seryices il musl pfovide. Provisions are measured at Ihe best estimate of the amounts required to setlle Ihe obligahon. Where the effect ol the time value ol money Is matenal, the provision is based on the present value ol those amounts, discounted at the prè-tax discount rate that reflécts th8 risks specific to the liability. The unwinding ol the discount is recognised in the Statèmènt of financial aclivities as a finance cost. Page15 ST ANDREWS STREET WTIST CHURCH NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 A¢¢ountSng pollcles (continued) 2.12 Flnanclal Instrumonts The ¢harity ènters Into bask fin¥n¢ial Inslrurnent transactions Ihat resull in the re¢tsgnllion of finan¢lal asstrts and IIHbilities such as Irade and other accounts receivable and payable, loans from banks and oth¥rthird parties. loans to rela￿j parties and investment in non pullab￿ ordinary shares. Debt in5trument5 Other than those wholly repayable or receivable within one year. including loans and oth¢r accoun18 receivab￿ are initialty measured at present value of the futu￿ c8shfkN4S and subseqL4enlSy al amortised cost using the effective interest melhc#J. Debt instruments that are payable or receivabk wilhin one year. typ￿IlY llade payables or receivables. are measured initially and Subsequently al Ihe undiscounted amount ol the cash or olhèr consideral*on expected lo be paid or received 11 the arrangemenl of a short term Instiumenl constrttstes a financing transaction (such as ITade debt deferred beyond r$0m￿l tem$ or finan¢sd at a non market rate ol interest) the financial assel or liability is measured Initialty at thè prèsent value of fvILsre ¢a$hflows di$¢ountèU al a market rale lor a similar debt inslrument and subs¢quenlty al anortised Go$l. Financial assets that are mèasurèd al ¢ost and amort15ed costs a￿ assessed 8t the and of each porting period for obj•ctiv• evidence of ImpaiMenl. If objective evidence of Imp8im•nt is found, an impairment loss 1$ r¢¢o9nis¢d in lh¢ Ststement ol Financial A¢tivities. Tho mpairm¢nt Ici$$ is measured as Ihe drflèran¢è b$￿ert on asset's Car￿n9 amourt •nd the Pfe$ent value ol èslimala ashflows discounted al the assel's tiriginal effective interest rate. If the fin8rncial asset ha5 9 variabla inteigst rate, the disMunt rale for measuring any impaimienl loss Is the currenl effective rate dèt&mFned under the Contr￿1. 2.13 P*￿10n* The charity operal05 defined contributKJn penshjn sch•m8s and the pension charge represents th• ?nK)un15 payabk by the charity to the fvnds in respect of the year. The charrty also historicalty contnbuted lo its $har¢ ol th¢ d&fi¢it arising on th& 'Baptist Minist8rs Pension Ftjnd. which is a closed d•fin8d ￿nèrit Khème Th¥ obligatK)n undèr th& sch*m& is measured on a discounl•d présènt value basis u51ng appropnale discount ratés applicable to th• Charity's circumslances. Contrl)ulion$ ar& based on the empbyee pon$I0rtab￿ S8￿ry. Further details can b• foLmd in 20. 2.14Judg•m•nts In apptylng •¢¢ouDtlng polkles and key sources of e$tlmatlon un¢•rtJinty Estimates and I(￿gerne11ts are based on histor￿al experience and other factors, Including 9xp￿tatiOnS of future events, thal are bdieved lo be reasonable under Ihe circumstances and are subjed to continuous rroniloring. Th¢ Charf¢y makes estimates aThJ assumpts'ons rdating to future events which VAII, by definrtion, seldom equal the re￿ted actual ￿Su￿S. The estimates and assumplDns that have a sigr¢ificanl risk of Causing a material adivstment to the cawwng amounts of assets and liabilit￿$ within the next financial year are addressed bekx. b. Carrying value of investrn8nt properlies. The fair value of investment prq)erties h&kl for rentsl PLtrpo$ès is dètèmined by the Trustees based on an assessment of caprtalised market wntsl w¢kls having ward to ¢Ltrr¢nt and antiupated market condltions. Page 16 ST ANI)REWS STREET 8APTIST CHURCH IOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Income from donath)n$ and legacies Unaudited total funds 2022 Unrestrlcted Restricted Ivnds funds 2023 2023 Total nds 2023 Donations Tax r&daimed on Grft ANI Gr8nls 53,972 8,272 3,685 S7,657 8,272 3,562 76,330 9,523 4.772 3.562 Total 2023 62,244 7247 69.491 90,625 Total 2022 80,893 9, 732 90,625 Invo$tm•nt Income Un8udiled lol lunds 2022 Unr•strlct•d R•stri¢t•d funds fund$ 2023 2023 Totsl fundj 2023 Rental income Interest 199.639 6.723 199,639 6,723 140.202 4.972 Total 2023 2C6.362 206,362 145, 174 Total 2022 145. 174 145, 174 Page 17 ST ANDREbYS STREET BAPTIST CHURCH NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENOED 31 DECEMBER 2023 Oth•r Income Un8uditeLI 10181 funds 2022 un￿strICted Restricted funds fvnds 2023 2023 Total fund5 2023 Strewdl 509 Total 2023 509 Total 2022 509 SrLewell income represen13 the net In¢omtrllexpendrturel on the annual trip held by the Church. Charltable ?xp•ndltur• Unaudi18d lolal funds 2022 Unrestrlct•d Restrbcted funds fund5 2023 2023 Total funds 2023 Staff ¢¢sts Prernises ¢osls Misshms and giving Servi¢&s and activiti•$ 63.648 152.2Cfj 19.150 14,288 63,648 277.206 75,574 14,379 54, 265 68,550 28,079 10.986 125.000 56,424 91 Total 2023 249.292 181,515 430,807 161.880 Tolal 2022 155.511 6.369 161,880 Page 18 ST ANDREWS STREET BAPTIST CHURCH NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDEO 31 DECEMBER 2023 Charitable expenditure Icontinued} Govemance and support costs Unaudited Eolal fvnds 2022 Governance Costs 2023 Support ¢￿ts 2023 Total fund$ 2023 Professional fee8 100 2,450 2,331 &400 4,988 Accountancy ftss Auditllndeptrndonl exam fees Wages and 8aLgrie8 2.070 2.070 1,35S 4,005 5.360 Total 2023 7,855 6,175 14.030 1&169 Total 2022 6.647 8,522 15, 169 Total *xp¢ndltur• Un￿(￿￿18d 10181 lunds 2022 Vnre8trlct•d R￿trIcted funds funds 2023 2023 Total funds 2023 Charitable expenditure Govemance and support costs 249.292 14,030 181.515 430,807 14.030 161,880 15 169 Total 2023 263.322 181,515 444.837 177,049 Total 2022 170.680 6.369 177,049 Page19 ST ANDREWS STREET BAPTIST CHURCH NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Nèt Incomell•xpendllurel This is slated after charging.. Unaudiled 2022 2023 Depreciation of langible fixed assets Audilorllndependefit examiners remunerat*)n 4,140 8.500 3, 193 5.400 During 171¢ year, the Inlerim Minister Rev'd Dr S Langftsrd. who was a trustee during the year. receiveol a salary and pension benefits as an employeè ol th$ ¢harty. Details Of salaries and expenses pa￿ are disebs•d in note 21. Staff ¢o$ts Unaudited 2022 2023 Wages and salaries Social s•curty ¢osts EMplo￿rf$ ¢¢nlribulion lo defined contribution p•nsHJn schem0$ Dtrfined benefit pensi¢)n deficit prO￿s￿ mov￿en1- note 20 62,628 1.277 5,103 65.649 8. 729 7,575 (22, 700J 69,008 $9,253 Th& avera90 number ol persons employed by the Chawty dunng Iho year wa$ as folkw48.' Una(Adi1gd Z022 No. 2023 No. Chanlable Aclivities No enployee recewed Temunerntion amountirtg to more than £60.000 io either year. Taxauon Thè charty is eKempt from tax on incomè and gains falltng within section 505 of the Taxes Act 1988 and $e¢tion 252 01 the Taxalron of chargeab￿ Gains Act 1992 to the exteThl that these are applied to ts charitable obj'ects. Page 20 ST ANDREWS STREgf BAPTIST CHURCH NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 10. Tanglblè flx•d ass•ts Land & Buildin95 Offic equlpment Heritage proporty Total Co$t Or valualjon At 1 January 2023 Additions 1.062.036 114.07B 9,192 4.489,036 5,635.150 9.192 At 31 Da¢ember 2023 1.062,036 123,270 4,459,036 5,644,342 D8pr•clatlon At 1 January 2023 Char9• for the ￿aT 105.806 4,140 105,806 4.140 Al 31 December 2023 109,946 109.946 N•t boolr v*lue At 31 0￿mber 2023 1.062,036 13.324 4,459.036 6,534,396 Al 31 Dgcembgr2022 1.062 036 8,272 4.459,036 5.529.344 Page 21 ST ANDREWS STREET BAPTIST CHURCH NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENOED 31 DECEMBER 2023 10. Tangible fixed assots l¢ontInu￿) LaDd and buildings are stsled at ¢O$t whi¢h curyjrises purchase price and probate valuè as follows.. Unal￿rt￿lI 2022 2023 Purchase prbce Probate value 992,036 70.000 992,036 70,m9 1,062,036 1,062,036 The actual historKal ¢osl of herrtage property ¢¥nno1 bo r¥adily ascertained other than rnortr r?¢¢nl purchases or subsequent expendrture. Thtr main Church srtè was Includtrd in heritage property at ntstional replacement cost based on an Insurance valuation obtainod in 1990. Ther8 has been no ¢h8n9tr t) the ¢arrying value ol heritage property In Ihe past fiv¢ ytrars. The main Church site comprises bolh freehold and ba$ehc4d inlw¢st, h¢￿￿8¥&r. it 15 not practical lo apportion the insurance valuation beh¥een the e￿ents. During 2022, an investment prop8rty was vacated and redesignaled by the Tru$teg$ lo b8 used primarily lor charitable purp(>se. As such Ihis assel was reclassified al fair value t¢ tangible fixed assets within eritage prO￿rtY. Th¢ historic cost ol this prop8rty was £410.773. The revaluglicsn gains up lo Ihe dale ol Iransfer, rèlated to this assèt. remain vrithin the resfricled builjing fund. The lair v¥luo 8t dale ol Iransfor of £990,000 bewne de•med cost. Pagg 22 ST ANDREWS STREET 8APTIST CHURCH NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 11. InvgStment property Frtghold InV￿tment property Valuatjon At 1 January 2023 282,857 At 31 Decembfjr 2023 282,857 The values of propfrrth8s hetd lor invttstmenl purposes have been cLJnsidered by the Trustees during the ytrar on an eslimaled wntal ￿91￿ ba515. Unrealised Tevalual¢on gains and losses gr8 combinod and presented as 'GainsllLo$wl on investsnents. in the Statement of Financial Activit￿. During 2022. an inv8Stment pr¢oerty Was transferred to tsngible fixed assets. Further infomiation can b found in note 10. The historical cost ol investrnent propgrties al the balance sheet date is £152,66412022 - £152.664I. 12. Flxod assot Inv•stm•nts Oth•rfixed Inve¥tment* Cost or valu•il¢n Al 1 January 2023 10$ At 31 Dg¢ember 2023 105 N•t book value At 31 December 2023 10S Al 31 D8¢ember2022 105 Th• Trustee'g consider that there is no material drfferenca baNveen ￿$t and fair vJuo. 23 ST ANDREWS STREET BAPTIST CHURCH NOTES TO TrIE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 13. Debtors Unaudited 2022 2023 Dve after mor• than one year Other debtors Othèr d•btor5 consist of a knan pr¢wk4ed to a Church with a ￿rpetUal term and an interest iale of nil. Unaudiled 2022 2023 Du• wlthln on• y¥ar Trade debtors Other debloTS Prepayments •n¢y a¢¢ru#d in¢omg 19,160 1.649 31.S93 7,113 7,550 30,587 52.402 39.250 14. Curr•nt ai$•l Inv•stm•nlg un51￿lIe￿ 2022 2023 Listed in¥•$tm•nts 141,831 t34, 756 The market value of the listed inveslments at 31st December 2023 was £141.831. The fair value of the listed invostm•nls is detomined by reference to the quoted price for Klefili¢#l 8$$&ts In an active market al the baLance sheet date. Ouring the year, the gain on In￿stM&nI ieco9nised throu9h the Statement of Financial ActiV￿e$ was £7,07512022-1os$ on invèstmènt of £19.702}. Page 24 ST ANDREWS STREET BAPTIST CHURCH NOTES TO THE FINANCiAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 15. Credllorn: Amounts faljing due within y￿r Unaudrfed 2022 2023 Othèr erèdrtors Accruals and del¢rr¥d income 17,4S8 29,127 6,975 26. 768 46.58S 33, 743 16. Flnanclal Instrum•nts Un8udiled 2022 2023 Plnan¢l*l ass•I¥ Flnancial assets at la¥ ¥￿￿6 Ihrough i￿? 8nd expenditure 424.688 417,613 Finan¢ig1 o$set$ m&a$ured at lair value Ihfough incorn• and expendilure comprise current a$8el invèstments and investment prop•ty. Pa9e 25 ST ANDREWS STRE￿ BAPTIST CHURCH NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 17. Statwn•nt ol fund¥ Statomgnt of funds- current ye Balance at 31 Galnsl December ILossesl 2023 Balance at 1 January 2023 Income Expendmure D•slgnat•d fund$ Property repairs 131,238 1.117 11,8601 130,495 G•n•ral funds Genaml Funds- all funds Revaluation reserve 3.397.791 130,193 267,488 1261,4621 7.075 3.410.892 130,193 Total Unr•std¢ted 3,659.222 268.605 1263.3221 7.075 3.671,580 Ro$tri¢ted funds Nutter Par$ong Mans& in¢om¢ Manse asset Building Chur¢h buikling devtrlopment Olher r8slricted lund$ Castle End Jontl Andrew5 It Takes A City 30.013 127.7171 2,296 232,126 1.062.036 1,541,910 14,377 1.042 93.336 6,883 1110,623 121.503 1.062,036 1,$42,382 472 114,3771 12.0751 {2S,0001 3.213 2,180 68.336 6.883 3.562 11,7231 2,98S.896 7,247 1181,S1SI 2.811,628 Totsl of funds 6.645.118 27S,852 1444,8371 7,075 6,483,208 Page 26 ST ANDREWS STREET BAPTIST CHURCH NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 17. Stat•m•nt of funds Ic¢ntinuedl Statement of funds- wior year lunaudltedl Balance al l January 2022 31 D￿ember 2022 Gain (Losses) Incvme Expenditure D•slgnatod fund8 Property ￿pairS 125, 793 5.495 (501 131.238 G•n•ral fuftd$ GeTher￿ Fund5- all lunds Revaluation ro$&rv¢ 3,367,012 130. 193 221.081 (170.630J (19. 7021 3.397. 791 130, 193 T¢tsl Unrestrlct•d 3,623.028 226,576 {170, $80) (19,7021 3,659,222 R•strlet•d lund¥ Parsons Manse income Manse a55el Building Church buildin9 d&vebwont Other reslrKted funds Cestle End Janel Andr￿$ 11 Takes A City 31.072 (1,059) 30.013 1,294. 162 1,541.910 11.377 2.229 93.336 6.883 1.294, 162 1,541.910 14,377 1,042 93.336 6,883 2,609 1.960 (3. 147) 4.772 f2, 163) Tot•1 rnstrieted funds 2.982.533 9, 732 16.369) 2,985,896 Total of funds 6,605.561 236,308 (177,049J (19, 702) 6,645, 118 Pag6 27 ST ANDREWS STRE￿ BAPTIST CHURCH NOTES TO TrIE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEM8ER 2023 De¥tgnat¢d Funds: The propety repair5 fund represents fvnds Set a5th by the tWU5tees to m•èt ￿anned future Tepaifs and iefurbi$hment ?xp¢ndrturè. General UnrestActed Fund: The General un￿St[)cted Fund relate8 to lunds re￿.nert and availab￿ lor th$ gen•r¥l purpos•$ ol Iho Church. R•stricted Funds.. Th8 Nuiter fund relates to a donatKJn lo be applied for the purposes of supporting oldei members of thtr Chufch. The Parsons fjjnd rèlates to a donatv)n re¢e¥vgd for th& purpos8$ of maintsining the Church's archive records. The assat portion ol th& Manse fund rèpr•s&nls thrèè Ifeèhold residential properties owned by the Church in Cambrid9t whth arè héld pnmarity lor Ihe usè by thè Church Minislers. Properties hav8 either been donated ty •cquirod fr￿ funds $pe¢rf¢ally donateus manse 1258 Hulls Roadl and th& pur¢has¢ of the ¢uffeAt manse 117 Slran9way$ Road). This fund is for the purposg of the maintenance of church properties. The Building lund represents the lunds recewed and applied in extending the main $lt* in St Andw's Street. Tha Church Development fund relates to dona(¢ons recewed for the pu￿088$ of acquirfng new sanctuary chairs lor the Church, heaisng system and new flooring. Oth•r restricted thnds relat8 to coll8Ctions from Church m8mb8rs at me8tings lo be applied lor nominated causes. Tha Castle End lund rdatès to a d)n*i¢)n r8c•ivèd from Castl& End fvlission, to be US￿ for the purposes ol hoklin9 •ducational and olhèr da$ses and m*8tings ol a religious and philanthropic haracter. The Janet Andrew$ lund rèlatès Io 8 legacy received for the PUTP05es ol Outrèach, Mission and backing of an individual in thr)se fiekjs. This fund was tTansferred Ilom design8ted to reStr￿le￿ in 2019. The 11 Takes A City lund rep￿Sents the lunds received and appl￿￿ with the aim to end rou9h sl&eping in Cambridge due lo horrelessness. Page 28 ST ANDREWS STREET BAPTIST CHURCH NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 18. Summary offund$ Summary offvnds- Current year Balance at 31 Galnsl O•cambor (Losses 2023 B•lance at 1 January 2023 Income Expenditure Designated tunds General funds Restricted funds 131.238 3,527.984 2,985.896 1.117 267.488 7,247 11.8601 {261.4621 1181.5151 130.495 3,541,085 2.811.628 7,075 6,64S.118 275,852 1444,8371 7,075 8,483,208 Surnmary of lunds. prlor y•ar lunaudlt•dl 881anca 81 Ji Dec8mb&r 2022 galanc8 &1 l J8nu&ry 2022 G8ln (Los$8s) Expanditu Deswnaled funds General lunds Ro$tri¢tod lunds 125. 793 3,497.235 2.982.533 &495 221.081 9. 732 (&)J (170.630J (6.369) 131,238 (19. 7021 3,527,984 2.985,896 6.60556f 236.308 (177.049) (19, 7021 6.645. 118 Page 29 ST ANDREbYS STREET BAPTIST CHURCH NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 19. Analy$i$ of net as¥ets betymen funds Analysls of net •s¥ets b¢￿en funds- ¢urYent y￿r UnreStrIct￿ RgStrlct•d fvnds fund$ 2023 2023 Total funds 2023 Tangible fixed assets Fixed asset investments Inv*stm¥nt propoty Current assets Creditors due within one yBaT 2,907,427 2.626.*9 105 S.534,396 105 282,857 712.435 146,SBSI 282.857 527.881 146.5851 184,554 Total 3.671.580 2,811,628 6,483,208 Analys1$ ol n•t a¥*ets lJ•ts¥•en fund$- prlor yoar (uniud￿fjdl unTrstricl￿ R&sln¢led lunds funds 2022 2022 Tol81 funds 2Q22 Tangible f¢xed assat8 Fixed asset inveslmenls Investment property Dgbtors due aft•r more than onè y88r Current assels Credil*Jrs due wf(hin one ytr 2.910,046 2,619,298 105 5.529.344 ios 282,857 282.857 495,061 (33. 743) 366,493 861,554 (33, 743) Total 3,659,221 2,985,896 6,645.117 Paye 30 ST ANDREWS STREET BAPTIST CHURCH NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 20. PeD¥ion commitments The charity conlribthes to defined contritrMJlion penswjn schemes. The assets of the schemes are held separalety from those of the charity in independentty administered funds. The pension costs charge roprosenls contributions payable by the (harity to the fvnds and amtyjnted to £5.10312022 £7,575). Contributions due lo the fvnds at the balance sheel date were £7912022- £Nill. The Church conlribules lo the 'Baptist Penston Scheme. previousty kn￿￿ as ihe 'Baplist MiThislers' Pension Fund, which until 31st tlecember 2011 was a defined benefit scheme. The scheme was closed to new mernbers and any further contribthions in respecl of actNe service for existin9 members from that date. From January 2012, pension provi$K)n is being made through the defined contribution plan within the scheme. The scheme is a Mutt￿pIDYer pens¢on scheme and the Church has not been advised ol Ihe assets and liabilitvd ol the scheme which are attributabte to employees of the Church. Contributions are accounted for as if the scheme We￿ a defined contribution scheme. The pensions costs charged to income and expenditurè ¢n the year arè Contribut￿n$ payable I￿ardS bwofils and expenses accwed in Ihal year, plus any impact of d&fici•ncy contnbulthis. Historical￿, the Church ha$ r•¢¢gnts•d a liab￿rtY to th¢ defin8d bonèfft $¢hgmg, du9 to th• over811 fund operating at a deficit. In 2022, Ihe defined b•nèfft sch•m• entw•d into an arrangement wAth an insuiaru company lo guarantee mem￿r$ future benefrts. As a rtrsutt, th• Church Is n¢￿ onty required lo contribute £1 per month from August 2022 until June 2026. No provision has been mad& and contributions to this definad benefit plan will be recognis¢d in the SOFA as th@¢￿ in¢urr¢d. The defined conlributi¢)n plan continu&s to operat8 88 Thom￿1. Unaudrted 2022 2023 B¥Jance sheel l￿bilIty at start of year Deficiency ¢onliibuti¢)ns pa Interest cost A¢tuarkn81 gains 22, 700 (2,918) 425 (20,209) 8alan¢• $h•¢t Ilablllty at •nd ol year Page 31 ST ANDREWS STRE￿ BAPTIST CHURCH NOTES TO THE ANANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 21. TransactSons wlth tru$tg0s *nd olh•r related parties Pa￿lent is made lo the B8plist Union in re5pecl of indemnty insurance for Iruslees. This is included wrthin thè public1￿bilIty cover and is not separately NJentrf*able. Trusteos, as members of the congregat*Jn, make personal donalKsns to th& Church. During the year. Tru8lees who were employee5 of the charty ￿e1Ved total salaries and pension benefi18 of È32.20012022- £28.6001. These S￿arleS and pensN)n bènefits relate to thair employment and not their Trustee rcles. The Interim Minister occ¢Jpied one of the manses rent fre• dunng the ￿ar. 4 Truslees12022 - 3 Tfusleesl wor¢ rwmbursed lor expenses paid duTing th¥ year. The expernses rtrlated lo variws Church expendrture paid priv•t¥ty by thtt Iw$tees and totalled £4.85612022- £1,651). A trustee ol the ¢harily is also a twstee ol Cambridge & District Yovth for Chllst, whi)m the charrty provides spacè lor as dètail¢d in the Trustees reporl. The provision ol this Space and olhgr related services is deemed tts bè part ol th¥ ¢harrtabkn objecis ol the eharity. A trustee is empbyed at a COM￿nY Its charity is using for renovatson works A conflict of inlere$l slatement has be•rt agrw b&lw&en toth ￿rties. The transactions are al market rate. Ther• wer& no olher related party Iransadi¢)ns. 22. Controlllng party The charity is undw Ihe control ol the Board ol Trusteès. the Dixonatg and Churctt Mamber$. 23. Subsldlary und•rtaklng¥ The TnJslee$ ¢on$ld¢f thal Th• Stoneyard cent￿ ltivirvJslonesl Lirnited, a company incorporaled in Ihe United Kingdom. was a subsidiary undertaking. The Stoneyard Centre (Livingslonesl Lirniled ¢eassd tiading on 1st F•bruary 2021 and the ¢C￿panY was dissolved on 13th September 2022. Page 32