The Yorkshire Baptist Association (Incorporated) Company Number: 00181581 Charlty Number.. 247173 yorkshire baptist association THE YORKSHIRE BAPTIST ASSOCIATION (INCORPORATED) (A Company Limited by Guarantee) TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 *AE2H29FM• 13105r2025 COKPANIES H(MJSE A13
The Yorkshire Baptist Association (Incorporated) Contents Page Charity Information. Report of the Trustees.............................................................................................. . ... ... Independ¢ Auditorf5 Repfrt........... ststement of Financial Artivities.-....................................................................................... Balance Sheet.................................................................................................................. 12 Statement of Cash Flows............................................................................................. -13 Notes to the Fonanoal Statements........................................................................,.... .14
Charity Information The Yorkshire Baptist Assoclation (Incorporated) The trustees who are also d1CtorS of the charity for the purposes of the Companies Att 2006. submlt thelr report, which also meets the requirements of a Director5 Report for the purposes of Company Law, and finallcial statements for the year endetd 31 December 2024. These financial statements have been prepared in accordance wtth Accounting and Reporting by Charities: Statement of Recommended Pracbce applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Iland {FRS102) {effective l January 2019) as detailed in the accountin9 polioes. R¢fer¢n¢¢ and administrative deta51s of the charlty. Its trustees and advisors Charity name: The yorkshi Baptist Assooation {Incorporated) Charity registration number-. 247173 Company registration number- 00181581 Re9lstered offlce and prlncipal operating address 17-19 York Place, Leeds, LSI 2EX The following trustees have hdd office slnce l January 2024: Rèvd Kenneth Brown Revd Charlotte Henard Mrs Gill Knowles (until 12th Feb 2025) Mr Dean Th¢Ype Mr John Crosse Revd Joseph Kapolyo Mr Kevin Quinton Our bankers are: Virgin Money 94-96 Briggate Leeds LSI 6NP The Charities Official Investment Fund 80 Cheapside London EC2V 6DZ Our auditor is: Azets Audit Setvices rnr(ed 12 King Street Leeds LSI 2HL Our investments advisers are: LGT Vestra LLP 14 Comhill London EC3V 3NR Our solicitors are.. The Association does not currently have an appointed legal adviser. When legal services are requlred, we have access to different firms depending on the area of work required and the approprlate firni Is appointed on a task speofic basis. During 2024 the following firnis were appointed: Anthony Collins Solicitors LLP 134 Edmund stet Birmingham B3 2ES Shakespeare Martineau LLP 1st Noor, One Colton Square Leicester LEI IQH Page l of 30
The Yorkshire Baptist Association (Incorporated) Report of the Trustees The Yorkshire Baptist Association {Y8A} has a 9oveming {UMent whlch contains our Articles of Association. It was updated in 2014 and accepted by both the Charity Commission and Companies House. The YBA 15 Served by the Executive (trustees and directors) and by three wotl(ing groups who are appointed by the Executive.. Finance, Ministry and Trust gmups. Each wotking group has a Standin9 Order which outlines the role of the working group and its areas of vrfork. The groups report to the Executive on a regular basis as the Executive has overall responsibility for strategy and policies, financial practice, and partnership. Copies of the governlng document and working group Standing Orders can be provide¢l upon qUest. Trustees Our trustees are elected by the member churches of the Association in è way that gives balance of representation antl meets a9reed criteria. Some trustees are co-opted to faolitate good balance. The trustees are also d1CtorS of the YBA. Trustees a usually appoirbted for a the-year term resulting in some stepping down each year. A nomination and appointment pro5 is undertaken In consultation with member churchès to seek new trustees. Trustees are shown on pa9e l. We have adopted a practice of proactivety seeking out potential new trustees from arnon9St our member hurches and inviting 5Ultable people to attend 213 Executive meetings as observers. This enables them to better undèrstand the work of our trustees and dirertors before they are nominated by thelr home ¢hur¢h or co-opted to the Executive. During 2024 two individuals attended meetings on this basis,. one has confimd that they are willing to serve. and it is arbticipated that they will be appointed in 2025. Trustees a given a copy ofthe Alation"S governing dt)¢ument and the Staff & Trustees Handbook which contain5 inforrnativn about their roles and responsibilities. The Handbook includes relevant information from the Charity Commission. An away day for the tru5tee5 and Regional Ministers is held to provide more time for prayer and discussion for the vision and work of the Y8A as distlnrt from the "business. matters considered during Executive meetings. Association Team The Association is served by.. Revd Dr Adenlke Adebajo Revd Ann Chesworth Iri5 Cheung Hilary Dockerill Revd Peter Dunn Revd Graham Ensor Naomi Fennell Debbie Gamble Revd Dr Alex Harris Hannah Harris Revd Kez Roblnson Jodie Thorpe Dean Thorpe Regional Minister Trust. Property & Legal Officer Administrator Administrator until 15 May 2024 D5scipleship Enabler Reoional Mit)isrer Team Leader Young Adult Lead Office Manager Reoional Minister Pioneering & Church Planting Finance Officer Regional Minister untll 31 August 2024 Children. Youth & Families (LYF) Enabler until 31 Ortober 2024 Treasurer PartnehIpS and Related Partles The Assoclatlon wots In partnershlp wlth Northem Baptlst College, St Hild College, Biglife Europe. BMS World Mission, other Regional Baptist Associations. and ecumenical bodies across Yorkshire. fn April 2023, we engaged BECreative (Social We Talk Limited) to provide a communications consultancy to the A5s0ciatlgn through Ben Elliott and that relab"onship conts.nued during 2024. The A55ociation is 4 member of the Baptist Union of Great Britain (BUGB) as our related party whlch means that we receive national guidance on Various matters. In the interest of transparency and pmts"ty, the Association maintains a register of trustees. interests and those of close family members. All members of the Executive are Invited to declare any matters which might influence their COndL in respect to the Association's business. This register is open to public in5pertion. Declaration ot Intests is also induded as a standin9 Item at every Executive meeting. Page 2 of 30
The Yorkshire Baptist Association (Incorporated) Report of the Trustees (continued) Partnershlps and Related Partles (contlnued) During 2024 we have continued to develop partnerships in practical ways. seeking to be collaborative whilst at the same b.me bringing YBA focus to the partnetships. Objectlves & Actlvltles The objects of the YBA a the advancement of the Evangelical Christian faith and its prartice in Yorkshlre or elsewhere according with the printiplès of rhe Baptist denomlnatlon. The YBA is a network of over 90 churches. individually anLI collectively committed to particfjpatlng In the mission of God. Our vision is to'make disciples by multiplying healthy churches across Yorkshire,. We do this by lating with, renewing. and resourcing the local church. which is the primary agent for God's mission, and also throu9h investing in the YBA'S six priorities which are.. anting, revitalising. and reimagining Leadership development {Continuin9 Ministerial Development) Developing a pipeline of youn9er missional leaders Creating nev4 pathways into missional ministry Promoting Justice and encouraging diversity Supporting digital development When reviewing the aims and objectives of the tharity and in planning future a¢tivitfies, the Trustees have cornplied with the duty In section 17 of the Charities Art 2011 and have due regard to the publlc benefit 9uidance published by the Commission. During 2024 the Trustees agreed that the Senior Leadership Team would undertake a review of the Association's vision and priorities as they had been in place for two years with the outcomè frtsm this being likely minor changès to the vision language and the priorities. Following an initial review and discussion by Trustees, further significant wor1( was identified as being needed to ensure a cohent response to points raised by Trustees. This Is ongoing into 2025. Achi•vements and Perforniance In 2024 we continued to focus on our lon9-term vision of 'maklng dlsclples by multiplying healthy churches across Yorkshi. and the six priorities {above) which are always at the forefront of our decisions and artions. Reflerting on our plan5 for the year which were identified in our 2023 Trustees Report, we are pleased to report that out of the six artn$ identfjfied. five were achleved. Much of the work of the Association relates across more than one of our priorities. and we hope that the highlights shared below provide an overview of key achievements during the year. Tejm 2024 was a season of change in the Association tearn. Hilary Dockerill conduded her Admirtistrator role in May, and we We sad to say farewell to Kez Robinson. one of our Regional Minister5, at the end of the summer. Jodie Thorpe who served us so well as our Children, Youth and Families Enabler stepped Llown from this voluntary r(Ae in October. As a result of these changes, we undertook two recruitment searche5 during the later stages of 2024, one for a Regional Mlnister and one for an Administrator. We are pleased to report that both searches were successful, appointments were made, and two new team members will bÈ Joinlng us In 2025. During the year, the Staff Team have continued to pray together- prnying inio the vision and priorities of the Asso¢Èation and for our member churches and leaders. Along with a time of prayer on Monday and monthly Prayer & Fasting Days, each Wednesday members of the Team meet online with a minister to hear from them and to pray for them and their ministry. Of particular note in 2024 was our September Prayer and Fasting Day Ignite. This day coincided with a national prayer initiative in partnership with Fresh Streams and BUGB. Hosted by Rothwell Baptist Church, Leeds. members of the YBA team and folk from churches across the Association 9athered and spent the day in prayer together, Feedback frnm Ignite and from our Wednesday prayers is very positive. and we know that they are greatly appreciated by those who we connect with, whether this is in-person or online. Our partnership with BigLife Europe remains irnp¢Ytant in the context of disclple making rooted in Biblical principles from the early church. We greatly value the relationship we have with Revd Peter Dunn as our Discipleship Enabler and are thankful that 30 YBA churches have been dirertly served Page 3 of 30
The Yorkshire Baptist Association (Incorporated) Report of the Trustees (continued) Achlevements and PerfornIan (continued) by Peter and Biglife in the past S years. Our YBA Discipleship Pathway has been further developed to a year-long programme where individuals a encoura9ed to put disciple making principles into practice in their gwn cgntext after an overseas visit and strurtured support and encouragement, all of this facilitated by Peter. Our current arran9ement wrth Biglife comes to an end in August 2025- and a thorough review will take pla. As detalled In our 2023 report and followlng the necessary govemance and legal work, the St Hild Centre for Baptist Ministry (CBM) was officially launched in September 2024. The Centre offers undergraduate. graduate and postgraduate study optsons for Baptist students alongside a pro9ramme of formation for Baptist Ministers in Training, with a fully accredited route to BUG8 ministry. This will be a vital tool as we prioritise leadership devèloprnent and support younger missional leaders both key strands a5 we look to plant. revltslise and reimagine thurch for the future. Our Regional Minister, Nike. has been released part time to lead the first academic year of the Baptist Forrnation programme at St Hild CBM. Another element of our partnership 15 through the St Hild Centre for Church Planting,. in recognltlon of the YBA'S planting priority. our Regional Minister for Pioneering and Church Planting. Alex, has continued in his secondment for a proportion of his time to the role of Dirertor of Baptist Planting. At the beginnin9 of 2024, YBA trustees received a Grant Revw which had been undertaken by Finance Officer. Hannah. Reflecting on a thorough historic review. summary of key issues and a number of recommendations, a new YBA Horne Mission Grants model was agreed. The Model includes small, mediurn and lar9e grants. all are ali9ned with ourYBA vision and prlorbtles. there is an increased emphasis on partnership between the ch¢Jrch and Assooation for medium and large grants, and the application and approval processes ha5 been updateil. As a member As500ation of the Baptist Union of Great Britain {BUGB), we are ever mindful of the potential impact of national issues on the Assooation ané our member churches. An on90ing Financial Model Review bein9 undertaken by 8UGB is taking place and as Y8A Trustees we are monitoring developments as matters progress. During 2024, the were also amendments to the BUGB Ministerial Recognition Rules which late to those who are seeking BUGB accreditation and to those who are already BUGB accredited. $tenIng Spaces were offered to ministers and leaders in the YBA. gratitude was expressed for these opportunities to reflect both Individually and together. and also for the YBA'S posture on these challenging issues. Two key events held during 2024 were our Assembly and AGM which took place at Cornerstone Baptlst Church, Leeds in May and our Ministers Conference which was held In Scarborough in October. Both were very well attended. Our Assembly took the theme of "Make Room: Together making disciples and multiplying churches in Yorkshire- so was directly aligned with our vision. Along with a key-note speaker, we also heard from folk within the Association. reflecting on what we can learn from one another. Seminar options induded one led by our own CYF Enabler and one ls)oking at Projett Violet. refiecting on the experience of women in our BaptlSt family. led by Reglonal Minister, Nike. With an eye on our priority of promotin9 justice and encouraging d5verslty, two key elements uring the year were our YBA conference -From every nation: Building •n Inter•Ethni¢ Church- held In Apdl and our engagement with Projert VioleL Moo than 100 people sSgned up for the ConfenCe which was focussed on how we can grow authentic expressions of church, from mulb.. ethnic church to inter-ethnic church. Following the conference a Learning Community was fom)ed involving YBA churches. and this is being facilitated by Regional Minister, Nike. Project Violet is an investigation into women's experiences in ministry hosted by the Centre for Baptist Studies of Regent's Park Cgllege. YBA trustees have considered the Project Violet report and particulady the requests for change which are made to Baptist Assooations. A small working group was fomied to work through the report and our Commitment to Actlon was submitted to the Project Vlolet team. As ever Ministry Matt¢rs remain a core activity for the Regional Ministers. Thls includes supporting member churches when ministries end and facilitating their access to the settlement proces5 when seeking new ministers. We are also involved in supP)n9 those who are exploring a call to Baptist rninistry, those who are in training and ministers who are in the newly accredited phase of their rninistry. Page 4 of 30
The Yorkshire Baptist Association (Incorporated) Report of the Trustees (continued) Achievements and Perlormance {continued) Aligned with our priority of developing a pipeline of younger missional leaders. 2024 has seen the fruits of our investing in young adults, specifically through our Young Adult Lead and through the work of our Regional Ministers more generally. We have been identifyin9 where young adults are locate¢J in our churches and reaching out to connect with them in fneanin9ful and prartical way5. The Gen Z {18-25-yÈar-oldl gathering which began in 2023 has continued to meet rrnthlY for prayer, worship and evangelism. led by young adults themselves. They have become part of the SEND Spoffire network nd. supported by the YBA. young leaders are emerging from that group. The YBA supported a trip to the Philippines, taking 6 young adults where they engaged in leading a Youth Camp, supporting local churche5 and activities. Post this trip, 2 members are now Involved In leadlng In student mlnlsrryi and 2 others have been involved in supporting leading worship in another local Baptist Church with growth of new believers. Young adults from our region have been involved in leading at city wide vrforship events, speaking at a local church deacons. day, leading worship at our combined prayer day and Joining one of the Regional Ministers on a ministry weekend. The Regional Ministers have worked alongside new orexisting churches who are exploring mernbership of the Association and of BUG6. In 2024, this has induded Grace Gospel Church. Leeds who are now in a period of tran51tion with Hunslet B4Ptist Church- All Nations Church, Fir Vale, Sheffield who were welcomed into membership- and The Well at Woodseats. Sheffield v4ho a in the process of finalising their membership application. Each of these expressions of church afe unique. reflerting at least one of our priorities of plantlng. revitslisin9 and reima9lning. Safeguarding continues to be a key are4 of work fi)r the Association with our Safeguarding Trustee supporting the Regional Team Leader and ¢Yfice Manager. Alongside providing general advice to our member churches and ministers. the Association is available tts support churches should a safeguarding tncident occur. In total two thirds of our member churches required advice or support with safeguarding matter5 during the year. We have a150 provided input into new churches and new expressions of church who are seektng rnember5hip of the sOCIation, ensuring before they corne into rnembership that they have policies and processes in place that are fit ft*r purpose in the context of their mission fiekl. Safeguarding troining is offered using the excellent training resources provided through BUGB. During 2024 14 training sessions were held and more than 250 training places were taken up. All of our safeguarding support and training is rooted in BUGB'S Excellence in Safeguarding resources which are freely available online to our member churches. Noting the increase in requests for support around safeguarding and COgnis1ng the importance of -getting it ri9ht-, following a review of 2024 we will be exploring how the Association's safeguardin9 provision can be strengthened in 2025. Our Reglonal Minlsters continue to provide Vlslon and Revlew days for member churches as requested and several fellowships benefitted fvom this provision. These days and the support that follows are tailor made for each specific church. with a focus on supporting the leaders and church members to revlew, reflect and look forwards in their mission focus. Flnan¢ial Revlew During the year to 31 December 2024 the YBA had a total income of £601,175 (2023.. £722,152). There were gains on the valuations of invèstmènts of E66.564 {2023.. £92,992). The total expènditure was £547,061 12023.. £665,149). The net result of the year was net movement in funds of £120,678 (2023.. £L49,995). The trustees are mindftjl that the dose(I church buildin9s and burial grounds carry with them significant but largely unquantifiable costs for repair and maintenance. The trustees acknowledge w¥th gratitude finanoal support received from The Harry Bottom Charitable Trust of £30,0(KI (2022= £30.000). The YBA has been blessed through many finanoal and other generous gifts of time and expertise. The YBA'S reserves policy conts.nues to comprise of two elements.. firstly, the YBA maintains a general reserve equivalent to approximately six months, General Fund expenditure (approximately £240,000), and secondly, the YBA only maintains Stricted SerVeS where the purpose is evidently prartical. If any restrirted reserve ceases to be artive the YBA tskes the appropriate adminlstratsve, legal andlor regulatory steps to wind up the reserve and then transfer remaining balances into the general fund. Target reserves will be achieved by rnaintaining a significant cash balance in addition to invested Page 5 of 30
The Yorkshire Baptist Association (Incorporated) Report of the Trustees (continued) Fin•ntial Review (continued) assets of relatively easily realisable nature. The charity's free resetves at 31 December 2024 excluding restricted funds and fixed assets totalled E756.175 {2023. E743.574). The YBA'S Executive group is responsible for annually reviewing and appro¥in9 an investrnent policy 5tatetnent which sets out a strategy and polioes for risk, ethi, delegation of authority, reporting and trainin9 and guidance. with respect to the Y8A's cash management and investment5. The policy, whbch complies with the Chamty Commlsslon recommended best practice ensUS that the Y8A Is able to Control and utilise its funds effectively in a controlled framework. The YBA'S objertive is to generate income and capital retums, which will enable the YBA to t least maintsin the real capital value of the portfolio so that the base from which income is derived is maintained in al terms. The YBA seeks to employ investment managers to ensure proper management of the assts and to obtain the returns required within acceptable leve15 of risk. The YBA engages irb effertive treasury management (maximisation of the short-term cash balance through effective management of debtors. creditors. and payroll) so as to identify surplus cash available for investment, and to maximise the retum on that money while minimisiTrg the associated risk. The overriding principle of the YBA'S investment policy is to avoid risk rather than to maximise retum, whilst meeting the liquidity needs of the YBA. The key crfjteria for assessing the deslrability of any potential investment. therefore. Is security. Ilquldity and yield respectively. All short-temi investments are paced with or9anisations that have a credit rating of AIIA+ or above and no single inve5trnent is placed for a period greater than 2 years. Total Investments with any one organisation will not normally exceed £1 million. Investments for periods in excess of three months wlll be placed to provide a spread of maturity throughout the year to meet liquidity. Plans for 2025 Looking to the future, our kty plans for 2025 will indude: The review of our vision and priorities, continuing from 2024. A review of our partnership with Biglife Europe. Exploration of options for safeguarding support in the context of InCasing needs. Implementsb'on of the new suite of Home Mission Grants aligned with YBA vision and priorities. Exploration of options for our Chlldren Youth & Families work As always. the trustees wish to say a big thank you to the many people who contrlbute to Assoclatlon life during the year. Without the support of the many volunteers who serve on our groups and who support the work of the Association Team in praCal and prayerful ways, we would not be able to report on suth a di¥er5e and wide-ranging scope of activity and work. Fund5 Held as Cystodi•n TNst•• The YBA. as Custodian Trustee, holds certain assets for member churches and associated charities. The trustees do not have any direct title to the funds but administer these investrnents within the frarnework of the Charities Act in consultats.on with our investment advisers and the objectives of the individual churches. The objectives of the churches and charitres are in line with the objectives of the Association shown in this Trustees. Report. The details of the assets of each ojstodian fund held on behalf of the church or charity are set out in Note 20 in the finanaal statements. Auditor The auditor, Azets Audit Services Limited. is deemed to be reappointed under sertion 487(2) of the Companies Ad 2006. Page 6 of 30
The Yorkshire Baptist Association (Incorporated) Report of the Trustees (continued) ststement of Responslb115tles of the Trustees Company law requires the trustees to prepare financial statements for each financial year which give true and fair view of the state ot affairs of the company as at the end of the financial year and of the surplus or deficit of the charitable company for that year. In preparing those financial statements the trustees are reqvired to: Select suitable accourttlng policles and then apply them conslstently* Obserye the methods and prinoples in the Charities SORP,. stste whether applicable UK Accountin9 Standor(Is have been followed. subject to any material departures disclosed and explained in the financial statements: Make jud9ements and estimates that a reasonable and prudent. Prepare the financial statements on the going concem basis unless it is appropriate to presume that the company wlll continue in bJsiness. The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at arby time the financial position of the company and to enable them to ensure that the financial statements comply with the Companie5 Act 2006. Thèy are also responsible for safeguarding the assets of the company and hence taking steps for the prevention and detection of fraud and other Irregularitles. Small Company Rules Thls report has been prepared in accordance with the speaal provisions of Part 15 of the Companies Att 2006 lating to small companies. It was approved by the Board on . and signed on its behalf by: C7hy Kevin Quinton Tntstee and Chalr of Twstees Dean Thorpe Trustee and Treasurer Pa9e 7 of 30
The Yorkshire Baptist Association (Incorporated) Independent Auditor's Report to the Trustees of The Yorkshire Baptist Association (Incorporated) Oplnlon We have audited the financial statements of The Yorksh1 Baptist Association {Intorporatedl (the 'charitable cornpony.) for the year ended 31 December 2024 which comprlse the Statement of Financial Artivities. the Balance Sheet, the Statement of Cash Flows and the related notes to the financial statements. including a summary of significant accounty'ng policies. The finanaal reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting standards, including FRS 102 The Financial Repon9 Standard applicable in the UK and Republic of Jreland {United Klngdom Generally Accepted Accountlng practi). In our oplnion the flnancial statements: give a true and fair view of the state of the charitable company's affairs as at 31 December 2024 and of its incoming resources and application of resources including, the income an expenditure for the year then ende(J- have been property ppared in accordance with United Kin9dom Generally Accepted Accounting Practice,. and have been pPared in accordance with the requirements of the Companies Art 2006. Basls far opinion We conducted our audit in accordance with Intèmational Standards on Audtting (UK) IISAS (UK}) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the finanoal 5taternents sertion of our report. We are independent of the charitable company in accordance with the ethical requirement5 that are relevant to our audit of the financial statements in the UK. indudin9 the FRC'5 Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is suffioent and appropriate to provide a ba515 ft)r our opinion. Con¢luslons relatlng to going concern In auditing the financial statements, we have concluded that the tnAstees' use of the 90ing conrn basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we hove not iderbtified any mèterièl uncertaintr'es relating to events or condikn.ons that, individually or collecbvely, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. Our responslbilltles and the responsitM"lrties of the tnjstees with respert to going concem are described in the relevant sectlons of this report. Other informatlon The other informakn.on comprises the information induded in the annual report other than the financial statements and our auditor's report thereon. The trustees are responsible for the other infomiation contained within the annual report. Our opinion on the financtal statements does not cover the other infom)ation and, except to the extent otherwise explicitly stated in our report, we do not express any rorm of assurance condusion thereon. Our responsibility is to ad the other information and. in doing so. consider whether the other inforrnabon is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such mèterial inconsistenoes or appant material misstatements, we are required to determine whether thls gives rise to a material misstatement in the financial statements themselves. If, based on the work we have perforn)ed. we conclude that there is a Material misstatement of this other inftlmiation. we are required to report that fatt. We have nothing to report in this regard. Page 8 of 30
The Yorkshire Baptist Association (Incorporated) Independent Auditor's Report to the Trustees of The Yorkshlre Baptist Association (Incorporated) (continued) Oplnlons on other matters prescribed by the Companie5 ALt 2006 rn our opinion, based on the work undertaken in the course of our audit.. the Information given in the TnJstees' report for the financial year for whlch the financial ststements are prepared is consistent vrfith the financial statements; and the Trustee5' Port has been prepared in accordance with applicable legal requirements. Matters on which we are required to report by exception In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees, report. We have nothing to report in Spect of the follovding matters ¥vhere the Companies Act 2006 quireS us to report to you if, in our opinion- adequate accounting records have not been kept, or tUrnS adequate for our audit have not been received from bronch*s not visited by u5- or the finan¢lal statements am not in agement with the a¢¢ounting re¢ords and retums.. Or certain disclosures of dirertors. remuneration specified by low are not made,. or we have not received all the information and explanabons we require for our audit. Responsibilities of trustees for the financial ststements As explained more fully in the Trustee5' responsibilitie5 Statement. the trustees are responsible for the preparation of the finanoal statements and for being satisfied that they 9ive a true and fair view, and for such internal control as the trustee5 determine is necessary to enable the preparats.on of financial staternents that are free from material misstaternent. whether due to fraud or error. In preparing the financial statements, the twstees are responsible for assessing the charitsble company's ability to continue as a going concern. disclosing, as applicable, matters related to going concern and using the going concern basis of accounting ijnless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic altemative but to do so. Auditor's responslbilltles for the audlt of the flnanclal statements OLtr objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that indudes our opinion. Reasonable assurance is a high level of assurance but Is not a guarantee that an audit condurted in accordance with ISAS (UK) will always detect a material misstatement when it exlsts. Misstatements can arise from fraud or error and a considered materfal If. Indlvldually or In the aggregate, they could reasonably be expected to influence the economic declsions of users taken on the basis of these financial statements. A further description of our responsibilities is available on the Financial Reporting CoLtncil's website at.. https'./lwww.frc.org.uklauditorsresponsibilities. This description forms part of our auditor's pOrt. Extent lo whl¢h the audlt wa$ Consldered upable of detectlng Irregularltles, In¢ludlng fraud Irregularitles, includlng fraud, are instances of non-compliance with laws and regulation5. We design procedu$ in line with our responsibilities. outlined above and on the Financial Reporting Council's website, to dètect material mi55tstements in respect of irregularities. includin9 fraud. We obtain and update our understanding of the entity, its activities, its control environment, and likely future developments, induding in relation to the legal and regulatory framework applicable and how the entity is cornplying with that framework. Based on this understanding, we Identify and assess the risks of material misstatement of the financial statements. whether due to fraud or error, design and perfonn audit procedures SpOnSive to those risks, and obtain audit evidence thot 15 51Jfficient and appropriate to provide a basis for our opinion. This includes consideration of the risk of att5 by the entity that were contrary to applicable laws and 9lations. induding fraud. Pa9e 9 of 30
The Yorkshire Baptist Association (Incorporated) Independent Auditor's Report to the Trustees of The Yorkshlre Baptist Association (Incorporated) (continued) Extent to which the audit was ¢onsid¢r¢d ¢apable of detectlng Irre9ularltles, iThcludin9 fraud {continued) In response to the risk of iegulatieS and nonrfompliance with laws and regulations, indudlng fraud, we designe(1 procedure5 which induded= Enquiry of management and those charged with governan art>und actual and potential litigation and claims as well as artual, suspèrted and alle9Èd fraud- Reviewing minutes of meetings of those charged with go¥Èmance; Assessing the extent of compltrance with the laws and regulations ¢tsnsidered to have a dirett material effert on the financial statements or the operations of the charitable company through enquiry and inspection- Reviewing financial statement disdosus and testr.ng to supporting documentation to assess CQTnpliance with applicable laws and regulations- Perfom)in9 audit work over the risk of management bias and override of controls, includlng testing of Joumal entries and other adjustments for appropriateness, evaluating the busines5 rationale of significant transactions outside the normal course of business and reviewing aOUntIng estSmates for Indicators of potential bias. and Performing audit work over the timing and recognityon of income and in particular whether it has been recorded in the correct accounting period. Because of the inherent limitations of an audit. there ts a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance wlth regulation. This risk increases the rn0 that compliance with a law or regulation is mOVed from the events and transact(ons reflected in the finanaal statements, as we will be le55 likely to become aware of instances of non-compliance. The risk of not detecting a rnaterial misstatement resulting frorn fraud is hi9her than for one resulting from error, as fraLJd may involve collusion. forgery, intentlonal omissions, misrepSentat1Ons, or the override of internal control. Use of our report This report is made solely to the charitable company's members. as a body. in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we mi9ht State to the charitable company's members those matters we are quired to state to them in an auditor's report and for no other purpose. To the fvllest extent permitted by law. we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body. ft)r our audit work. for this report. or for the opinions we have formed. J&ssiGa L4wr&n66 Jessica Lawmnce For and on behalf of Azets Audlt Ser¥ice5 Limited 2310412025 hartered Accountants Senlor Statutory Auditor 12 King stet Leeds LSI 2HL Page 10 of 30
Th¢ Yorkshire Baptist Association {Tncorporated) statement ol Flnandal Actlvltles lor the year ended 31 Decwnber 2024 (Including Income and Expenditure Account) Tutal Funds Fwrfs Fun 2023 2024 IrKom• Iram: DonJtiWS Jnd Chariiat4e attfvities 30.fXIO $01.489 69,686 601.175 30.000 636.200 52,170 720,370 30.000 638.200 53,952 7Z2.152 501.489 67.162 596.651 Investments 2.524 1,782 1,782 Total Incom• 2,524 Fxp•Thd6tur• orr. RaL4ing Funds ChartrJWe Jctlvtrle5 27,268 SL8.691 545,959 27.268 5L9.793 $47.OSL 161,039 503,203 664,242 16L,039 S04.110 665,149 Total eApenditure 1.102 94lns SZ.692 1.422 54,114 56,128 875 57,003 Ner 9ainS ¢n investments N•* rno¥am•Tht in funds io 62,608 IIS.3fy) 3.9 5.378 90,920 147.048 2,on 2.947 92,992 149.99S 13114 120.678 84lJnce brw9ht forward 13114 3,96S,103 158.281 4.123.384 3.816,055 155,334 3,973,389 13114 4.080.4QJ 163.659 144.062 3.96S.103 IY.201 4.113.384 Tre statement finaDrial attiyities indudE5 all gain5 and 1055e5 rniSed in thE year. •Jl incotne and eKpendrture denve from cyntinuing activ5. Th ntstestsD page5 14 to 30 f0mlrtO1thESe 5tatement.The 5fatefneni offinalla eSa0(0rnSwth the requirernents foran Income and expendlture ctount ndert compan 20C6. Pa9E 11 30
The Yorkshire Baptlst Associatlon (Incorporated) Balance Sheet as at 31 December 2024 2024 2023 Note Flxed assets Tangible assets Investment5 1,065,919 2.387,517 3,453,436 915,919 2.428,911 3,344,830 io Current assets Debtors li 78,842 1.015.333 1,094,175 197,759 921.726 1.119.485 Cash at bank and in hand Llabllltles Creditors- Arnounts f4lling due within one year Net current assets 12 (303,549) {340,931) 790.626 778,554 Total assets less current liabilities 4,244,062 4.244.062 4.123.384 4.123,384 Total n•t a55ets Funds Restrirted funds Unrestricted funds 13114 13114 163.659 4,080,403 4,244.062 158,281 3,965,103 4.123.384 The financial statements have been prepared in accordance wtth the special provisions of Part 15 of the Companies Act 2006 applÉcable to small Companies. 2210412025 These financial statements were approved by the board on ........................... by.. and signed on its behalf Z¥ax C fv*pe Kevin Quinton Trustee and Chalr of TNstees Dean Thorpe Trustee and Treasurer The notes on pages 14 to 30 form part of these finandal statements. Company number. 00181581 Page 12 of 30
The Yorkshire Baptist Association (Incorporated) Statement of Cash Flows for the Year Ended 3 1 December 2024 20Z4 2023 Cash Flows from operatlng activltles: Net cash used in operating activities 18 (84,037) (96,218) Cash Flows from investin9 artivities: Dividends, interest and rents from Investments Pro¢eeds from the sale of fixed assets PrOed5 from sale of investments 69.686 53.952 685,865 1,284,656 1 170 081 664.172 556 214 Purchase of investments Net cash provided by investin9 artivltles Ch•ng• In cash and cash equivalents in the y•ar Cash and cash equlvalents at the be9lnnlng of the ear Cash and cash equivalents at the end ol the 93,607 758.174 921 726 163 552 1 015 333 921 726 The Charity had no debt in this or the previous year. The Charity also holds cash In Investments of É23.097 {2023- £69.601). this is held for investing purpose5 and #ccortlingly is rbot induded in the cash balances above. Page 13 of 30
The Yorkshire Baptist Association (Incorporated) Notes to the Flnancial Statements for the Year Ended 31 December 2024 Accounting poli¢i•s The principal accounting policies adopted. J"udgements and key sources of estimation uncertainty in the pparatIOn of the financhal statements are as follows.. Charlty Inforniatlon The Yorkshire Baptist Association is a charitable company. The registered office is 17-19 York Place, Leeds. L51 2EX. The organisation's Charity Number is 247173 and its company number is 00181581. Basis of preparation The financial statements have been prepared in acCOrdar with Accounting and Reportlng by Charities.. Statement of Recommended Practice applicable to charities pparIng their financial Staterrents in accordance with the Financial Repowts"ng Standard applicable in the UK and Republic of Ireland IFRS 1021 {effecbve l January 20191 I"Charities SORP {FRS 102)"). the Companies Act 2006 and the Charities Act 2011. The Yorkshire Baptist Association meets the definition of a public benefit entity under FRS 102. The financial statements are prepad in sterling, whlch Is the fijnctional currency of the Charv. Monetary amounts in these financial ststements a rounded to the nearest El. The financial statements have been prepared under the historical cost conventlon, modlfied to include certain financial instruments at fair value. The principal accounting policies adopted are set out below. Going CO1b¢ern The trustees have prepared finandal projectoons. taking into consideration the current economlc climate and its potential impart on the sources of income and planned expenditu. They have a reasonable expertation that adequate financial SOurCeS are available to enable the charity to continue in operational existence for at least 12 months from the date of signing this report and have adequate contingency plans in the event that income streams are reduced. Consequently. the financial statements have therefore been prepared on the basis that the charity is a going concern. Whilst there 15 considerable economic uncertainty particulady over the impart of inflation, the charity continues to maintain considerable cash reseNes. more than sufficient to meet its Immediate requirements, and the ability to duce grants awarded in the futu. Thus. the trustees have continued to odopt the going concern basis of accountin9 in pparing the financial ststements. Zncome Income is ¢)nISed when the charity has entitlement to the funds, any perfomiance conditions have been met. it is probable that the income 11 be received and the amount can be measured reliably. Income from doset1 churches reprets the fair value of assets transferred to the charity upon closure of a church. Any excess or defiot on sale is recogni5ed as Profit on Sale of Closed Church Buildings. Income from Govemment fjnd othergrants. whether'capital'grants or'revenue. grants is recognised when the charity has èntitlement to the funds, any perforniance conditions attached to the grants have been met, it Is probable that the income will be received and the amount can be measured liably and is not deferred. Entitlement to legacies is taken as the earlier of the date on whith either.. the charity is aware that probate has been granted, the estate has been finalised and notification has been made by the executorls) to the Charity that a distribution will be made. or when a distribution is received from the estate. Receipt of a legacy. in whole or in part. is only conSided probable when the amount can be measured reliably and the charity has been notified of the executorfs intentlon to make a distribution. Where legacies have been notified to the charity or the charity is aware of the granting of probate, and the criteria for income recognition have not been met. then the legacy is treated as a contingent asset and di%losed if material. Page 14 of 30
The Yorkshire Baptlst Association (Incorporated) Notes to the Financial Statements for the Year Ended 31 December 2024 Accounting pollcles {¢ontlnued) Zncome (continued) Donated seryices and facilities are recognised as income when the charity has control over the item, any conditions assooated with the donated item have been met, and the receipt of economic benefit can be measured reliably. In accordance wrth the Charsties SORP {FRS102), general volunteer time s not recognised. Refer to the trustees, annual report for rn0 inforniation about their contribution. Investment income is included when receivable and the amount can be measured reliably by the charity. Fund accountlng Unr¢strlctod funds a available to spend on the artivibes that further any purpose5 of charity: Re$trO¢ted funds present Income which the donor has speafied to be solely used for partlcular areas of the Charity's work. Expendlture Expenditure, which includes irreeovernble VAT, Is recognised once there is a legal or constructive obligation to make payment to a third party, it is probable that settlement will be required and the amount of the obligations can be Measu lably. Expenditure is classified under the following activity headings: Expenditure on raising funds comprises the Costs associated with fund ralsing activlty,. Expenditure on charitable activities includes the costs of activities undertaken to further the purpose of the charity and their assooated support costs,. Other expenditure represents those items not falling into any other heading. All costs are allocated between the expenditure categories of the SOFA on a basis designed to fiett the use of the resource. Costs relating to a particular activity are allocated directly, others are apportioned on an appropriate basis. Grants payable are commitments (induding payments) made to third parties in the hjrtherance of the tharitable objectives of the charity. Allocatlon of support costs Support costs are those functions that assist the work of the charity but do not direcdy relate to ¢haritable artivities. Support Costs Indude back-office costs. finance, personnel, payroll and governance costs which support the Trust's artivities. These costs have been allocated between cost of raising funds and expenditure on tharitable activibes. The basis on which support costs have been allocated are set out in note 6. Operatin9 leases Rentals applicable in respert of operating leases where substantially all the benefits and rfsks of ownership remain with the lessor are charged to the Statement of Finartoèl Activitie5 as inCurd. The costs of short-term employee benefits are recognised as a liabilty and an expense where settlement of obligations does not fall within the same periot1. Pansions The ¢haritable Company contributes to the Baptist Pension Scheme which is a multiemployer defined benefit pension scheme. As explained in note 17, the yorkshi Baptist Association is unable to identify the assets and liabilities attributable to them in the scheme and there Is no fornial deficit recovery plan in place. In accordance with FRS 102 amounts pald to the Scheme are accounted for as if they were those of a defined contribution scheme. Page IS of 30
The Yorkshire Baptist Association (Incorporated) Notes to the Financial Statements for the Year Ended 31 December 2024 A¢¢ounting polltles (contlnued) Tangible fixed assets and depreciation Individual fixed assets costing £1,000 or more are capitalised. Tangible fixed assets are stated at cost less accumulated depreciation. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estlmated residual value over their expected useful Ilves as follows: Freehold & Leasehold land and buildings Closed churches Not dePCIated Not depcIated Freehold & Leasehold land and buildings comprise two manses and three dosed thurth buildings which are held with a view to furthering the objects of the charity. No depretiation is charged against these asset5 on the ba515 that the trustees Consider that the residual value is at least equal to the carrylng value. Flxed asset investments Investments are a form of basi¢ finanoal instrumenL Listed investments are 5tsted at market value at the balan¢e sheet date. The Itsted investment portfolio is held to generate return5 and gains for the charity and attordingly is desi9nated as fair value through profit and loss l-FWPL-). Unt1er this designats'on. the portfolio is revalued at each period end to its fair value, as detemined by reference to quoted market prices ènd vèlues determined by independent fund managers, with any gains or losses going throu9h the SOFA. Loans to churches Loans made by the Y8A to member churches are accounted ftsr as mixed motive investments whith are measured at historical c05t le55 impairment, subsequent repayments and any accrued interest. These investments a Mixed motive in nature and in accordance with the Charitie5 SORP {FRS 102) amounts expensed are accounted ft>r J5 grants to thurche5. Where interest is charged on loans made to churches. the rate is 0.5% lower than that published by the Baptist Union Corporation. The rate at 31 December 2024 was 6.50h (2023: 7.25%) Stod( No account Is taken of the stock of books and pamphlets. which are written off In the year of wrchase and are of minimal value. Flnanclal Instruments The charity has elected to apply the provisi$ of Serti¢)n 11 'Ba5ic Finanoal Instruments. and Section 12'0ther Financial Instruments Issues. of FRS 102 to all of its financial instruments. Cash at bank and In hand Cash at bank and cash in hand includes cash and short temi highly liquid Investments with a maturity within the 12 months after the balance sheet dats. Debtors Debtors are recognised at the settlement amount. Prepayments are valued at the amount prepaid net of any discounts due. Creditors and Provisions Creditors and provisions are recognised where the charity has a present obli9ation Sulting from past event that will probably result in the transfers of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creilitors and provisions a normally recognlsed at thelr settlement value after allowing for any discounts whlch may be due. Financtal liabilities a only derecognised wherh. antj only when. the Charity's obligations are discharged, Cancelled or they expire. Page 16 of 30
The Yorkshire Baptlst Association (Incorporated) Notes to the Flnanclal Statements for the Year Ended 31 December 2024 Accounting pollcles (continued) Crodftors and Provlslons (continued) Amount5 recognised as provisions a best estimates of the consideration reqUId to settle the present obli9ation at the reporting end date. taking into account the risks and uncertainties surrovnding the obligation. Taxatlon The Yorkshire Baptist Association is a registered charity and a$ Such is a charity within the meanin9 of schedule 6 of the Finance Act 2010. Attordin9ly. the Charity is potenknally entided to tax exemption under part 11 of the Corporation Tax Act 2010 or sertion 256 Of the Taxatbon of Chargeable Gains Act 1992 in respect of income and gains arising. Crltical Accountin9 Estimates and Jud9ernents In the application of the charity's accounting policies. the trnstees are required to make judgements. estimates and assumptions about the carying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based On hlstorical experience and other factors that are considered to be relevant. Attual results may difter from these estimates. The estimates and underlylng assumptions are reviewed on an ongoing basis. Revisions to accolrnting estimates are recognised in the period in which the estimate is revised, if the revision affects only that period, or in the period of the revision and fvture periods if the revision affects both current and fL¥ture periods. No depreclatlon Is charged on freehokl land and bulldlngs induding closed church buildings whlch are held with a view to furthering the objects of the charity. No depreciation is charged against these assets on the basis that the trustees consider that the sIdUal value is at least equal to the carrying value. 2. Income from donations •nd legacies 2024 2023 Sundry donatlons and legacbes lunrestrictedl 30,000 30.000 Donatlon5 and legacies in the year ended 31 December 2024 include: Harry Bottom Charitable Trust 30,000 30,000 The Charity benefits greatly from thè involvement and enthusiastlc 5UPPOrt of a number of volunteers, details of which are 9iven in our annual report. In accordance with FRS 102 the economic ontribsjtion of volunteers is not recognised in the finanoal statements. Page 17 of 30
The Yorkshire Baptist Association (Incorporated) Notes to the Financial Statements for the Year Ended 31 December 2024 3. Incom• from charitable acUvltl•s 2024 2023 BUG8 ¢ore funding Interest on loans to churche5 188.285 25,838 158.900 32.534 In¢tsme from churches for seThl¢es reftde 62.025 49.650 aosed churches income 200,670 292.271 28,084 Profit on sale of d05ed church buildings Othèr income 24,671 76,761 501.489 638,200 AJI Income from charitable artivities is unrestrirte(l in both the current and previous financlal year. 4. Expendbture on raising funds 2024 2023 Office Costs 16,996 13,113 10,272 147,926 27.268 161,039 Closed ch*Jrch property costs 5. Expenditure on charitable activities Artivities undertaken qlirectly Grant funding of •rtlvlt5es Support Costs {note 6) 2024 Activity or pro9ramme Ministry Mission 37.575 363,537 401,112 118,681 363,537 519.793 118,681 118,681 37.575 Actlvlties undertaken dlrectlv Grant fundlng of activltles Support Costs (note 6) 1023 Artivity gr pro9r•mm• Ministry Mission 27.413 364,158 391,571 112,539 364,158 504, 110 112.539 112,539 27.413 Page 18 of 30
The Yorkshire Baptist Association (Incorporated) Notes to the Financial Statements for the Year Ended 31 December 2024 5. Exp¢nditure on charltsble actlvltles (contlnu•d) Charitable Artivity costs indude the followin9 grants: 2024 2023 Grants to Instltutions: Misslon Grants Biglife NCPRIR, Blackley St Hild 90.896 12.785 95,439 13,100 4.000 15,000 118,681 112,539 Expenditure tharitable èctivitie5 wa5 £519,793 (2023- £504.110) of which £518,691 was unrestritted (2023.. £503,203) and £l.I02 was restrirted {2023: £907). 6. Support costs 2024 2023 staff tt*Sts (note 8) Reglonal Minlster Trust officer Legal expenses Governance Other 290,948 19,216 12,670 1,938 12.161 26.604 363.537 285.420 20.909 11,314 8.258 8,874 29,383 364,158 7. t4et Income for the yewr Is stated after charyin9: 2024 2023 Auditor's remuneratr'on Audit (excluding VAT) Accountanry (exduding VAT) 9,660 6,300 2,300 8.600 9,660 8. Analys1$ of $taff Costs. staff numbers• Ilnandal $tatem¢nts remyneratlon and exp•ns•s and the cost of key management pwsonn The average monthly number of employees analysed by lunttion was: 2024 2023 Mission Ministry Page 19 of 30
The Yorkshire Baptist Association (Incorporated) Notes to the Financial Statements for the Year Ended 31 December 2024 8. An•lysls of stsff costs {contlThued) The average number of fvll-time equlvalent employees during the period was as follows: 2024 2023 Mlssion Minlstry Staff costs during the year were as follows: 2024 2023 Salaries Social security costs Pension costs Other St5 Icouncll Tax. Water charyes. Accommodation) 218,447 14.870 24,035 33.596 290,948 213.216 13.289 23,444 35.469 285.420 No employees eamed E60.000 or more during the year (2023: no employees). Pension Costs are allocated to activities in proportion to the related Staffing costs inajrred and are wholly charged to unrestritted funds. The Executive are in charge of directing and controlling the tharity, with the Chair5 of the working groups and the Regional Minister Team Leader comprising the key management personnel and runnin9 and operating the charity on a day-to-day basis. The total employee benefits of the key management personnel of the charity are made up of 9ross pay. employerfs pension and employer's national insurance contributions of £52.616 (2023= £48.669} plus allowances associated with housin9 of £14.360 (2023: £14.8041. No trustees received MuneratION for thelr sèrvices during the current or previous financlal year. Two trustees retelveL1 1mbUrse0 expenses during the year of E453 (2023: two trustees, £83). In addition to the staff costs shown. the part time Y8A Tnjst Officer. is on secondment from Harrogate Baptist Church and has been ¢har9ed at £12.141 12023.. £11.295}. Page 20 of 30
The Yorkshire Baptist Association (Incorporated) Notes to the Flnancial Statements for the Year Ended 31 December 2024 9. Tan9lble assets aosed Church Propertie5 Fteehold Land & Building5 Total Cost or valuation: At l January 2024 Additions Disposals At 31 December 2024 215.000 150.1)00 700,919 915,919 150.000 365,000 700,919 1.065,919 Depreciation: At l January 2024 and 31 Oecember 2024 Net book value: At 31 December 2024 36S,000 215,000 700,919 700.919 1,065,919 915.919 At 31 December 2023 rncluded within land and building5 is one 'restrirted' freehokl property with a historical cost of £93,761 12023: £93,761}. This represents restrirted funds Used towards providing a manse for 8uttershaw Baptist Church. At 31 December 2024 there were three closed church properties under the stewardship of the yorkshi Baptist Associats"on. Longley and Lowerhouses Baptist Church. Cowling Hill and Queensbury Baptist Church. Queensbury Baptist Church was added to dosed church properties in 2024 following its closure as a cause in Ortober 2024. It was added at rnaet value of £150,000 as no historical cost was available. An at1ditional closed church at Woodseats is induded as Freehold Land & Buildings as it is now home to a newly planted church. At the balance sheet date. the market value of the properties have been included at a value of É365,000. 10. Investments Listed Investments Mixed Motive Bonds Cash 2024 Cosvvalue brought foN4ard Additions Disposals Realised and unreali5ed ains Cost/value carried forward 1.941.492 80.000 337.818 69,601 2,428.911 266.750 (282.499) 80,734 25,001 (84.876) 264,463 556,214 (296,7971 1664,1721 {14, 170) 66,564 2,006,477 80,000 277,943 23,097 2,387,517 Page 21 of 30
The Yorkshire Baptlst Associatlon (Incorporated) Notes to the Financial Statements for the Year Ended 31 December 2024 10. Investments (continued) Listed Investments Mixed Motive Bonds Cash 2023 Cosvvalue brought forward Additions Disposals Realised and unrealised ins Costlvalue carried fonvard 1.824,410 80.000 500.725 45.359 2,450.494 578.593 1567,210) 105.699 591,488 1,170,081 (162,907) {554,5391 (1,284,6S6) (12,7071 92,992. 1.941.492 80.000 337,818 69,601 2,428.911 At 31 Dember 2024 £35,993 {2023: £162.7991 is included in debtors in re5pert of the mixed motive investments. These amounts represent loans to churches which total £313,936 12023.. £500,617). The historical cost of listed investrnents is £1.843,072 (2023.. £E.807,826). Bonds and mixed motive investments which comprise loans to churthes are carried at cost less any provislon for impaimient. 11. Debtors 2024 2023 Trade debtors Short temi elernent of mixed motive loans to churches 42,849 35,993 78.842 34.960 162,799 197,759 12, Credltors amounts falllng due wlthln one year 2024 2023 Accruals 9.660 293,889 303,549 8,600 332,331 340,931 Other Creditors Page 22 of 30
The Yorkshire Baptist Association (Incorporated) Notes to the Flnancial Statements for the Year Ended 31 December 2024 13. Analysls of movement In charltable funds Balance B•lanc• I Net gains 31 January on Oec•mber 2024 Income Expendlture Investment 2024 Year ended 31 December 2024 Unrestricted Funds General 3,96S,103 598,651 (545.959) 62.608 4,080,403 Restrirted Funds Temperance C105ed Churches 2.100 156,181 158,281 4,123.384 2.100 161,559 163,659 4,244.062 2.524 2.524 601,175 11,1021 11.1021 ($47.061) 3,956 Total rÈstr6cted funds 3.956 66.564 Total funds Balan¢e 31 December 2023 Balance I Net 9ains January on 2023 Income Expendlture Investment Year ended 31 December 2023 Unrestrirted FurKIs General 3.818,055 720.370 (664.242) 90.920 3.965,103 Restrlcted Funds Temperance Closed Churches 2,100 153,234 155.334 3,973,389 2.100 156,181 158,281 4,123,384 1.782 1.782 722.152 (907) (907) 1665,149} 2.072 2,072 92,992 Total restrirted fund5 Total tunds Purpose of Restricted Funds: Temperance Fund the Temperance Fund was estsbllshed for the purposes of making grants to churches for purposes of temperance. Closed churches - the Closed Churches Fund arlses from churches whlth have closed and now have no members. The assets have, in accordance vrfith the Trust Deed. been transferred into the corbtrol of the Association within the restrittions placed upon the AssocTration by reason of the Trust Deed or order of the Charity Commissioners. In some cases. the only strICtl0n Is for purp05e5 connected with the Bapt15t denomination. as the Association shall dirert. in which case these are treated as unrestricted funds. 14. Analysis of net assets by fund Year ended 31 December 2024 General Restrlcted 2024 Fixed assets - Tangible assets Investments Net current assets 972.158 2,352.070 756.176 4.080,404 93,761 1,065.919 35,447 2,387,517 34,450 790.626 163,658 4,244,062 Page 23 of 30
The Yorkshire Baptlst Associatfjon (Incorporated) Note5 to the Flnancial Statements for the Year Ended 31 December 2024 14. Analy51s of net a55ets by fund Icontinyed) Year ended 31 December 2023 General Restrocted 2023 Flxed assets - Tangible assets Investments 822.158 2.399,371 743.574 3,965,103 93.761 29,540 34.980 IS8,281 915.919 2,428,911 778,S54 4, 123.384 Net current a5setS IS. Related party transactloTrs Baptist Union of Great Britain The Association is a member of the Baptist Union of Great Britain (BUG6). During the year, it received gr4nt5 from the BUG6 as shown.. 2024 2023 BUGB Core Funding 188.285 158.900 The YBA is not beneficially entitled to these fvnds but is melY artin9 as agent for BUG8 and accordlngly the ¢haritable company does not recognise these amounts in income or expenses. The monies are held in a separate bank a¢¢ount and paid over to the BUG8 periodically during the year. The rnoney collected and paid over during the year Is detailed below: 2024 2023 Oonations to the BUGB Home Mission Fund from Association member thurches 188,455 173.654 Baptist Churches In Yorkshlre Baptist Churches in Yorkshire are in most cases members of the YBA and the transactions that took place between the YBA and those churches, during the year, are detailed below. 2024 2Q23 When the Association carries Out work for SLtch churches, fee5 are charged and the SltIn9 Income Is shown as Income fmm churches for services rendered. 62.025 25,001 199,181 - 25.838 12,141 85.294 49,650 Loans made to churches during the year Loan repayments received from churches during the year Interest on loans received from churche5 durin9 the year Fee paid to a church in respert of trust officer 5econdment Grants made to churthe5 during the year 46,679 32,534 11.295 93,920 Kevin Quinton is a trustee of St Thomas Crookes. During the year. The Yorkshire Baptist Association received income of £150 (2023 - £260} from St Thomas Crookes in addition to their BUGB Home mionS contributions. Page 24 of 30
The Yorkshire Baptist Association (Incorporated) Notes to the Financial Statements for the Year Ended 31 December 2024 16. Legal 5tstus of the tharltable company The charitable company is limited by 9uarantee, the liabllity of each member of the company being wound up while they are members or within one year after they cease to be a member shall not exceed £10. 17. Pen$ion costs The YBA is a participating employer in the Baptist Pension Scheme {-the Scheme-}, which 15 a separate legal entity administered by the Pension TnJstee (Baptist Pensiorh Trust Lirnitedl. The a55ets of the Scheme a held separately from those of the YBA and the other participating employers. The Scheme, previovsly known as the Baptist Ministers. Pension Fund, started in 1925. bLtrt was close¢J to future accrual of defined benefits on 31 December 2011. Prior to this date, the main benefit providet1 through the Defined Benefit {DB) Plan was a pension of one eightieth of final minimum Pensionable Income for each year of pensionable service tO9ether with additional penslon In respect of premiums paid on Pensionable Income in excess of Minimum Pensionable Income. In July 2022 an agreement was reathed with Just Gn)up to secure the Defined Benefit Plan Members, pension benefits. From that date Just provided finènoal backing for all defined benefit pensions provided through the scheme. Deficit recovery contributions reduced to £1 a month from August 2022 and then ceased in December 2024. The responsibility for the defined benefits We transferred to lust during 2024. From January 2012, pension provision 15 being made through the Dèfined Contribution (DC} Plan within the Scheme. Jn general, members pay 8% of their Pensionable Income and employers pay 6% of members, Penslonable fncome into tndlvidual pension a¢¢ounts, which are operated and managed on behalf of the Penslon Trustee by 8roadstone Corporate Benefits Ltd. In addition, the employer pays a further 4% of Pensionable Income to cover Death irt Service Benefits, administrakn.on costs, and an assooated insurance policy which provides income protection for Scheme members if they are unable to work due to long-term incapaoty. This income protection policy has been insured by the Baptist Union of Gat Britain with Aviva rnIted. The Scheme is considered to be a multi-employer scheme as described in Settion 28 of FRS 102. Because it is not possible to attribute the Scheme's assets and liabilities tu specific emploYer5, the scherne 15 accounted for as if the Stheme were a defined contribution scheme. YBA staff members a eligible to Join the Scheme. A¢tuarial valuation as at 31 December 2019 A formal valuation of the DB Plan as at 31 December 2019 was carried out by a professionally qualified Artuary using the Projected Unit Method. At the valuation date the market value of the DB Plan assets was E298m, whilst the level of assets needed to pay benefits was E316m, giving a deficit of £18m (equivalent to a past service funding level of 94%). The YBA and the other participating employers in the DB Plan are collectively responsible for funding this deficit. The key financial assumptions underlying the valuation were as follows: Type of assurnption RPI price Inflation assumption CPI price inflation assurnption Minimum Pensionable Income Increase Adjustment (above CPI) Pre-retirement assumed investment retums (gilt yidd plus 1.75% p.a.) Post rètirement assumesj investment returns (including benefits matched by the insurance policy) (gilt yield plus O.S% p.a.) Minimum Pensionable Incorne increases (CPI plus O.S%) Deferred pension increases (based on RPI) Pre April 2009 Post April 2009 Pen5i9n increase5 based on CPI with an annual floor of 0% and annual cap of 5% % p.a. 3.20 2.70 0.50 2.95 1.70 3.20 3.20 2.50 2.70 Page 25 of 30
The Yorkshire Baptist Association (Incorporated) Notes to the Financial Statements for the Year Ended 31 December 2024 17. Ponslon costs (contlnued) Mortality is assumed in accordance with 80% of the S3NA standard mortality table. Futu improvements projected from 2013 in line with the "CMI 2019" projection with a long-term rate gf improvement of 1.75Ph p.a. for males and 1.5Wts p.a. for females with the core smoothlng parameter and with additional initial mortality improvement fartor A = O.S%. Pension cost for the year 2024 2023 DC contributions 24.024 23,432 12 DB deficit contributions 24.035 23.444 At the year end the estimated debt is £nil (2023.. Enil). The Scheme has provided an estimate of the costs to leave the scheme, whlch would equate to £1,000. This is for information only, as it is not payable until the YBA ceases to employ any artive members of the Scheme or leave the scheme. which eventuality is considered to be extremely unlikely. 18. Reconciliation of 14et Movements in fvnds to Net Ca$h Flow from Operating Activities 2024 2023 Net movement in fvnds Gains on investments 120.678 (66,564) (69.686) 149,995 {92.992} {53,952> {93.365} Investment income Profit on the sale of fixed assets Additlon of tangible flxed assets Decrease/(increase) in debtors {Decrease)linrrease in creditors {150.000) 118.918 (103.100) 19. Operating léa$È tommltments At the 31# December the charitable company had outstanding commitments for future minirnum lease payments under non-cancellable operating leases. which fall due as follows.. 2024 2023 Within one year Between two and five year5 In over five years 14,850 10,800 55,350 47,700 70,200 63,000 Page 26 of 30
The Yorkshire Baptist Association (Incorporated) Notes to the Financial Statements for the Year Ended 31 December 2024 ZO. Post balance sheet events Subsequent to the year end, the Buttershaw manse was sold in January achieving a profit on sale of £35,162. Hope Baptist Church c195ed as a cause in February. however, YBA is continuing to explore church planting opportunities with those local to Hebden 8ridge in accordance with the Foundation deed. The Hope closure has resulted in thÈ trnnsfer of restrirted assets to YBA of the church building and manse. to the value of £564.050. February also saw the dissolutoon of a Lc1 Ecumenical Partnership with St Agnes church in Leeds. Page 27 of 30
The Yorkshlre Baptlst AssodatloTh (Incorporated) Notes to the Financial Statements for the Ythr Ended 31 December 2024 The A550ciatiun ho5 a5 Cust1 Tru5teE5 certasn assets fllrt1 thu$& and a55¢J(iated tharitie5 1th1n the AsEièon. The Trustees do not have direct tide to thÈ5e fuDds but admin15tertheir InvestTrts ti gttal framv¥Ort the in th their AdviSOtS, Brewin Dolphin and thE ubJectlVE5 of the Indwidual thurthE5. The ob]etts of the Chwc? and charkn5 afE in linE th the obFtts of thE in thE Tnistee5" rEpllrL Tre inye5tr[Trts arE kept safe perttyllcally recoThd. The folhwin9 scheduk shoAS the asK4s of eath Cu#oth) bar•thE tlwrity. InVEstm ate sho7 at their marftet ¥alue at 31 OetembEr 2024 and 2023." T*xal Total 2024 2024 2024 2023 2023 20Z3 &rnsltY- Sheffleld Road barnsley. ward Grten Blngl Blackky BOdforO- Bethel Btèdford- Cknytun Bradford- Tetky Street Bradford- We5rgate Bridlington Con15trwoh Dewsbury C4rned Forv¢ard 21.344 270,116 4.226 128.963 21.Y4 Z70.116 12.162 128.963 20,5JL 279,9]0 4.075 137.063 20.581 279,930 10.950 137,063 7.936 65 50.49Z .310 44.223 21.885 50.492 11,504 4.223 31.906 3,184 3209 8,023 42.644 21.104 42,644 30,948 9,871 1,31fj 39,380 583.915 io.ioi 10.237 1.365 10,137 1.365 9.B71 1,316 39.$45 60.766 39.mo S9.308 $61.171 621.937 524.607 PW2930
The Yorkshlre Baptlst Assodath>n (Incorporated) Notes to the Financial Statements for the Year Ended 31 Detembtr 2024 Cash Totsl 2024 2024 2024 2023 1023 Browht forward Ooncaster. Chequer Road Fat51ey lur 561.171 62L.937 59.308 524.607 583.915 17211 650.017 17211 658.174 216JJ7 Lfj.$97 626.332 6,145 16,597 634.282 13,3 8.IS7 7.950 7,149 6,976 J,]61 Guisdev Hebjen Brfdge- Hope Hudder5field- &rkbv Huddersfidd. Milnsbrfd9e dder5fith- S81e Ilook Is 6J13 51.166 3.413 LY,3 49.338 6J13 19,176 49.338 ID.683 171.743 Si.1fj6 XX.•78 8,221 t116 166,138 54A05 LO.683 7,928 SL655 57,917 16315 uII- BDuvard 52.655 ull. Priory LeEd5- Wenheirn 30.221 30221 29.142 319.513 319.513 3.10) 309.103 Leeds- Bram 4.9)I 2B.IOL 4AX3 52.971 4.813 Letds. Mo[Ytol 2a.2DI 52.971 4.902 LeEd5- Revive Carried Porward 233.816 1.857.1 2.190.984 238.222 Pase 291 30
The Yorkshire Baptist Association (Incorporated) Notes to the Flnanclal Statements for the Year Ended 31 December 2024 10. (vJThtlThMd) Toial TOtsI 2flZ4 14 2f124 202J 2023 2023 8rovght forward Leeds. Ytsrk Koad 233.816 1.9S7.166 IL90.984 238.222 1.717,lOQ 1.955.322 3.90S 13,813 10.998 7,725 94,954 114.140 45,968 45.342 5,494 39.917 315,423 J4,915 SO,973 18,932 143,380 27,077 1,269 4.050 13,Q02 10.998 B,012 96,24S 118.367 3.90S 13,813 10,998 7,725 74,319 114,140 45,968 ME Iredale Trv5t 13,M2 10.998 B,012 77,on Il8J67 Meltham MExborwgh 21,173 20,635 Ngrrnanton Queensbury Rawdon 47.021 5,697 36299 58.244 47.021 5,697 36.299 309.842 45,342 5,494 39.917 56,164 RothErharn Rothwl Srapegoat Hill Scarboryugh. bnrte Sheffield. Cemetery Road Sheffield. D1 Road Z51.598 259,Z59 15.467 41A51 15,467 52,4 14,915 39,973 16,932 21,353 27,077 19,633 1.483 28.lJ80 19,633 130.481 28,DSO South Cr6ven T4dmordED. Vak 128.998 122,027 West Cr4ven ISalterfryth} Total 1443.363 0$1,143 11 Z909.$52 Pa9E 30rf