Blunham Old Meeting Baptist Church Trust
Trustee's Annual Report and Accounts For the Year Ended 31st December 2023 Charity Commission Number: 237680
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2-3 Report of the Trustees
4 Independent Examiner's Report
5 Receipts and Payments Account
6 Statement of Assets and Liabilities
7 Notes to the Accounts
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Blunham Old Meeting Baptist Church Trust Trustee's Annual Report and Accounts
For the Year Ended 31st December 2023
Report of the Trustees
1. Legal and Administrative Information
The Charity is known as Blunham Old Meeting Baptist Church Trust
The Charity Commission Number is 237680
The Charity's principal address is:-
c/o Roydon Loveley, 8 Dove Road, Bedford, MK41 7AA
The principal governing document is an Indenture dated 5th December 1747 signed by John Hubbard, Richard Emery, Francis Atwood and John Grant.
The objects of the Charity are to apply rent and profits:
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in repairing and upholding the premises for religious worship and
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for such other uses which shall be for the good and benefit of the congregation
2. Trustees
The Trustees acting during this period were:
Mr. M. Button (resigned 19/3/24) Mrs. B.M. Murray (resigned 10/8/23) Mr. S. John Mr. R. Loveley Mr. P. Humphrey Mr M. Tipper (appointed 5/12/23) Mr. S. Syfret (appointed 25/6/24)
3. Activities and Achievements
The Charity seeks to provide and maintain a meeting place for religious worship.
The Charity makes financial assistance available at its discretion to members of the community deemed to be poor and in need of help. No payments were made by the Trust for this purpose in 2023.
Blunham Baptist Church ceased using the building during 2010 and the Family Life Church (formerly known as Word of Life Church) worshipped in the building until 2020 when Covid and declining numbers brought a cessation of Services.
In 2021, the Trustees met with the leaders of Kings Arms Church Bedford to discuss the building, land and assets of the Trust. Two new Trustees from Kings Arms were appointed in October 2021. Regular meetings in the building resumed in September 2023 and a new part-time leader commenced employment in June 2023.
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Blunham Old Meeting Baptist Church Trust
Trustee's Annual Report and Accounts
For the Year Ended 31st December 2023
The building has and is being used for regular prayer/worship meetings, Kings Arms leadership team meetings, a weekly Mother and Toddler group and one-off events including a Youth Identity conference and monthly meetings of the Blunham Good Neighbours Scheme. It is intended that the Blunham property will once again become a thriving church community as an additional location for Kings Arms services, reaching into the nearby villages and beyond. Under the terms of a collaboration agreement, the costs of staffing, any equipment acquired for operation of congregation, heat and light and cleaning are borne by Kings Arms Church.
4. Policies
The Investment portfolio is comprised of units in the COIF Charity Investment Fund.
The Fund, consisting of well-diversified investments principally equities but including other asset classes, aims to be suitable for up to 100% of a charity’s long-term capital, providing a return that is even-handed between present and future beneficiaries. It is believed that over the longer-term this approach should help to protect both capital and income from the effects of inflation.
The Fund follows an ethical investment policy. The portfolio is invested mainly in equities but will also include fixed interest securities, property and other assets.
The Trustees continue to believe that investment in these units is consistent with the Charity's aims and objectives and the obligation to ensure the best possible income allied to an acceptable degree of security for its assets.
The overall strategy towards the level of cash reserves that must be retained, takes account of the need to cover the cost of major repairs and of rectifying any deterioration to the buildings and provide funds for possible future enhancements.
5. Signatures and Declaration
We declare in our capacity of Charity Trustees, that the Trustees have approved the above report and attached accounts and have authorised us to sign on their behalf.
Signature:
Full name: Peter Humphrey Date: 20th August 2024
Signature: Full name: Roydon Loveley Date: 20th August 2024
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Independent examiner's report to the trustees of Blunham Old Meetin Baptist Church Trust for the year ended 51 December 2023 I report on the accounts of the charity. Respectyve responsibilltles of tru5rees and examiner The charity's trustees are responsible for the preparation of the accounts. The Charity's trusrees consider that an audit is not required for this year under Section 14412) of the Charities Act 2011 (the 201 l Act) and that an independent examination is needed. It is my responsibility to: examine the accounts under section 14S of the 201 I A follow the procedures laid down In Ihe general directlQn5 given by th¢ Charity Commissioners under section 145(51(b) of the 201 l Affj and state whether particular matters have come tt) my attention. Basis of independent examiner's report My examination wa5 Carried out in accordance with the general directions given by the Charity Commission. An $mInation 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 item5 Qr disclosures in th¢ accounts and seeking explanations from you a5 trusoes concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audi¢ 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 ser out in the statement below. Independent examiner's statement In connection with my examination, no matter ha5 come to my attention: which give5 me reasonable cause to believe that in any material respect the requirements.. to keep accounting records in accordance with section 130 of the 201 l A¢ and to prepare accounts which accord with the accounting records and comply with the 3ccounting requirements of the 201 l A¢t have not been mel or to which, in my opinion, attention should be drawn in order t¢ enable a proper understanding of the a¢counts to be reached. Signed Date 17-J* o9(+ Carolyn Smith FMAAT Licensed and regulated by AAT under licence number 6102
Blunham Old Meeting Baptist Church Trust
Trustee's Annual Report and Accounts
Receipts & Payments Account
For the Year Ended 31st December 2023
| RECEIPTS Dividends - COIF Charity Funds Note 1 Legacy Note 5 Bank Interest received Rent received - Field R.A. Gibson Gifts received Funds transferred from Investment Less: PAYMENTS Insurances - Chapel Legal fees Chapel Refurbishment Note 6 Chapel grounds maintenance Chapel maintenance Telephone & Broadband Bank charges Utilities - Water & Sewerage Retirement Gift Bank Interest payable Excess/(Deficit) of Receipts over Payments Cash funds at 1st January Cash funds at 31st December Movement in Cash Less: Change in amount due from / (to) Kings Arms Trust Check |
2023 £ 7,098 159,484 817 50 50 10,000 177,500 (1,267) (1,140) (23,771) (5,589) (6,447) (546) (72) (334) (100) (0) (39,266) 138,234 7,424 141,842 134,418 3,816 138,234 ok |
2022 £ 7,215 0 9 50 0 0 7,274 (1,063) 0 0 (8,406) (5,526) (448) 0 0 0 0 (15,443) (8,169) 11,777 7,424 (4,353) (3,816) (8,169) |
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Blunham Old Meeting Baptist Church Trust
Trustee's Annual Report and Accounts
Statement of Assets and Liabilities As at 31st December 2023
| LAND & BUILDINGS Chapel Buildings Note 3 Chapel Contents Note 3 Field - rented to R. A. Gibson INVESTMENTS COIF Charity Investment Fund units held Note 2 Mid-market value COIF Charity Investment Fund at market value CASH FUNDS Natwest Current Account Natwest Business Reserve Account Unity Current Account Unity Instant Access Account Unity Fixed Term Deposit Account Note 7 TOTAL CURRENT ASSETS Total Assets CREDITORS- due (to) / from Kings Arms Trust Net Assets |
2023 2022 £ £ 1,335,926 1,335,926 81,535 81,535 12,764 13,295 19.85 18.17 253,298 241,634 535 3,274 1 4,150 2,999 0 23,307 0 115,000 0 141,842 7,424 395,140 249,058 1,812,601 1,666,519 0 (3,816) 1,812,601 1,662,703 No current valuation |
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Blunham Old Meeting Baptist Church Trust
Trustee's Annual Report and Accounts
Notes to the accounts
For the Year Ended 31st December 2023
Note 1
| Note 1 | ||||
|---|---|---|---|---|
| COIF Charity Investment Fund | ||||
| 2023 | 2022 | |||
| Quarterly dividends received per unit were: | Pence per unit | Pence | per unit | |
| 28th February | 13.73 | 13.52 | ||
| 31st May | 13.52 | 13.52 | ||
| 28th August | 13.52 | 13.52 | ||
| 30th November | 13.71 | 13.71 | ||
| Note 2 | ||||
| 2023 | movements | |||
| COIF Charity Investment Fund | Per unit | Units | £ | |
| Balance at start of the year | 18.17 | 13,294.93 | 241,634 | |
| Withdrawal | 18.83 | (531.12) | (10,000) | |
| Increase due change in market value | 1.67 | 5,550 | ||
| Balance at end of the year | 19.85 | 12,763.81 | 253,298 |
More than three quarters of the funds invested with COIF arose following the sale of the Church Manse in 2016. Proceeds of sale were in part used to fund improvements to the Church with the balance invested - 10,240 units were purchased on 15th June 2017 at £14.648 per unit at total cost of £150,000.
Note 3
Land & Buildings and content valuations are amounts covered in property damage section of Baptist Insurance policy renewal on 24th June 2023.
Note 4
Amount owed to Kings Arms Trust at end 2022 arose due to temporary difficulties accessing the Natwest Account following a change of that have since been resolved.
Note 5
This represents money received from the estate of a lady called Rita Ashwell who passed away on 15 December 2019. Under the terms of her will the Trust was was entitled to 50% of a property in nearby Putnoe. The amount shown represents net proceeds of sale and rental following the sale in April 2023.
Note 6
Chapel refurbishment represent expenditure incurred in a major refresh of the rear hall and includes the cost of removal of old floor, replacement with new Karndean flooring and the purchase of new furniture.
Note 7
Fixed Term deposit expires 14th October 2024. Interest is receivable at 5%.
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