## **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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Page
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:
- in repairing and upholding the premises for religious worship and
- 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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