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2025-12-31-accounts

Docusign Envelope ID: 40873B42-5A7F-8173-82F9-725699330CED

The Yorkshire Baptist Association (Incorporated)

Company Number: 00181581 Charity Number: 247173

THE YORKSHIRE BAPTIST ASSOCIATION (INCORPORATED)

(A Company Limited by Guarantee)

TRUSTEES’ REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025

Docusign Envelope ID: 40873B42-5A7F-8173-82F9-725699330CED

The Yorkshire Baptist Association (Incorporated)

Contents

Page Charity Information ............................................................................................................ 1 Report of the Trustees ........................................................................................................ 2 Independent Auditor’s Report .............................................................................................. 8 Statement of Financial Activities ......................................................................................... 11 Balance Sheet .................................................................................................................. 12 Statement of Cash Flows ................................................................................................... 13 Notes to the Financial Statements ...................................................................................... 14

Docusign Envelope ID: 40873B42-5A7F-8173-82F9-725699330CED

Charity Information The Yorkshire Baptist Association (Incorporated)

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, submit their report, which also meets the requirements of a Directors Report for the purposes of Company Law, and financial statements for the year ended 31 December 2025.

These financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019) as detailed in the accounting policies.

Reference and administrative details of the charity, its trustees and advisors

Charity name: The Yorkshire Baptist Association (Incorporated) Charity registration number: 247173 Company registration number: 00181581

Registered office and principal operating address

17-19 York Place, Leeds, LS1 2EX

The following trustees have held office since 1 January 2025:

Mr Stuart Anslow from 10 March 2025 Revd Kenneth Brown Revd Andrew Ginn from 14 January 2026 Revd Joseph Kapolyo until 30 June 2025 Mr Kevin Quinton

Revd Eleanor Brennan from 14 January 2026 Mr John Crosse Revd Charlotte Henard until 31 Dec 2025 Mrs Gill Knowles until 11 February 2025 Mr Dean Thorpe

Our bankers are: Virgin Money 94-96 Briggate Leeds LS1 6NP

Our auditor is: Azets Audit Services Limited 12 King Street Leeds LS1 2HL

The Charities Official Investment Fund 80 Cheapside London EC2V 6DZ Our investments advisers are: Cazenove Capital 1 London Wall Place London EC2Y 5AU

Our solicitors are:

The Association does not currently have an appointed legal adviser. When legal services are required, we have access to different firms depending on the area of work required and the appropriate firm is appointed on a task specific basis. During 2025 the following firms were appointed:

Anthony Collins Solicitors LLP 134 Edmund Street Birmingham B3 2ES

Shakespeare Martineau LLP 1[st] Floor, One Colton Square Leicester LE1 1QH

Page 1 of 31

Docusign Envelope ID: 40873B42-5A7F-8173-82F9-725699330CED

The Yorkshire Baptist Association (Incorporated) Report of the Trustees

The Yorkshire Baptist Association (YBA) has a governing document which contains our Articles of Association. It was updated in 2014 and accepted by both the Charity Commission and Companies House.

The YBA is served by the Executive (trustees and directors) and by three working groups who are appointed by the Executive: Finance, Ministry and Trust groups. Each working group has a Standing Order which outlines the role of the working group and its areas of work. 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 governing document and working group Standing Orders can be provided upon request.

Trustees

Our trustees are elected by the member churches of the Association in a way that gives balance of representation and meets agreed criteria. Some trustees are co-opted to facilitate good balance. The trustees are also directors of the YBA. Trustees are usually appointed for a three-year term resulting in some stepping down each year. A nomination and appointment process is undertaken in consultation with member churches to seek new trustees. Trustees are shown on page 1. We have adopted a practice of proactively seeking out potential new trustees from amongst our member churches and inviting suitable people to attend 2-3 Executive meetings as observers. This enables them to better understand the work of our trustees and directors before they are nominated by their home church or co-opted to the Executive. During 2025 three individuals attended meetings on this basis; two have confirmed that they are willing to serve, and it is anticipated that they will be appointed in 2026.

Trustees are given a copy of the Association’s governing document and the Staff & Trustees Handbook which contains information about their roles and responsibilities. The Handbook includes relevant information from the Charity Commission.

Each Executive meeting includes at least one key topic for significant discussion and/or decision alongside more routine “business” matters. And an away day for the trustees and Regional Ministers is held to provide additional time for prayer and discussion for the vision of the YBA.

Association Team

The Association is served by:

Revd Dr Adenike Adebajo Regional Minister
Revd Ann Chesworth Trust, Property & Legal Officer
Iris Cheung Administrator, becoming Finance Manager 16 October 2025
Revd Peter Dunn Discipleship Enabler
Revd Graham Ensor Regional Minister Team Leader
Naomi Fennell Young Adult Lead until 31 December 2025
Debbie Gamble Administration Lead
Revd Dr Alex Harris Regional Minister Pioneering & Church Planting
Hannah Harris Finance Officer until 31 October 2025
Revd Leoné Martin Regional Minister from 7 April 2025
Molawa Ogundeji Administrator from 20 January 2025 until 8 January 2026
Revd Robin Smith Interim CYF Consultant from 7 February 2025
Dean Thorpe Treasurer

Partnerships and Related Parties

The Association works in partnership with Northern Baptist College, St Hild College, Biglife Europe, BMS World Mission, other Regional Baptist Associations, and ecumenical bodies across Yorkshire.

In April 2023, we engaged BECreative (Social We Talk Limited) to provide a communications consultancy to the Association through Ben Elliott and that relationship continued during 2025. A review was undertaken early in the year and trustees agreed that this consultancy role would continue until March 2026 with further review anticipated at the appropriate time.

The Association is a member of the Baptist Union of Great Britain (BUGB) as our related party which means that we receive national guidance on various matters.

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The Yorkshire Baptist Association (Incorporated) Report of the Trustees (continued)

In the interest of transparency and probity, 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 conduct in respect to the Association’s business. This register is open to public inspection. Declaration of interests is also included as a standing item at every Executive meeting.

During 2025 we have continued to develop partnerships in practical ways, seeking to be collaborative whilst at the same time bringing YBA focus to the partnerships.

Objectives & Activities

The objects of the YBA are the advancement of the Evangelical Christian faith and its practice in Yorkshire or elsewhere according with the principles of the Baptist denomination.

The YBA is a network of over 90 churches, individually and collectively committed to participating in the mission of God. Our vision is to ‘make disciples by multiplying healthy churches across Yorkshire’. We do this by relating with, renewing, and resourcing the local church, which is the primary agent for God’s mission, and also through investing in the YBA’s six priorities which are:

When reviewing the aims and objectives of the charity and in planning future activities, the Trustees have complied with the duty in section 17 of the Charities Act 2011 and have due regard to the public benefit guidance published by the Commission.

Following review by the Senior Leadership Team and thorough discussion by trustees, it was agreed that the overall vision and priorities of the Association will remain as expressed above.

Achievements and Performance

During 2025 we maintained focus on our long-term vision of ‘growing disciples by multiplying healthy churches across Yorkshire’ and the priorities (above) which are always at the forefront of our decisions and actions. Reflecting on our plans for the year which were identified in our 2024 Trustees Report, we are pleased to report that all five of the key actions identified were dealt with.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.

It is always a great delight when new expressions of church become members of the Association. Early in 2025, we formally welcomed The Ark Church, Woodseats (a plant out of The Well Church, Sheffield) into membership of the YBA and BUGB. Stepping into a new season as an independent church, we have supported The Ark as they establish themselves in Woodseats and create meaningful connections with the community for Jesus.

On the flip side, it is sad when churches close. We are grateful for the efforts of our Property and Legal Officer who works alongside our Regional Ministers at such times, as the Association seeks opportunities for property and other resources to be released for future missional work appropriate to the requirements of the church and the ultimate trust requirements. Sometimes this results in the sale of a building to release financial resources and sometimes buildings are retained for church plants or other uses, as in the case of Beauchief Baptist Church which closed towards the end of 2025. The church building is now being used by The Ark Church as they continue to grow and share Jesus with those who do not yet know Him.

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The Yorkshire Baptist Association (Incorporated) Report of the Trustees (continued)

Achievements and Performance (continued)

One of our key developments during 2025 has been the formation of “Collectives”. These are intended to offer a shared model where Regional Ministers work alongside local teams bringing vision, capacity and skills for growth, planting, multiplying and renewing that otherwise are beyond reach or cannot be given attention because of the inevitable demands of general church leadership and governance. Early work has led to 30 churches committing to engaging across Growth, Planting and Multiplying Collectives, and a Renew Collective will be introduced early in 2026.

Our Inter-Ethnic Learning Community (LC) continued as planned with two gatherings taking place during the year. In May the LC considered “Caring pastorally for one another in an inter-ethnic church” and in November the topic was “Leadership, migration and biblical teaching: Learning from the Antioch church”. With more than 60 people participating and 14 YBA churches involved in the November session, we are hugely encouraged by the engagement with this important Learning Community. The initiative continues into 2026.

Staff Team - There were several adjustments within the staff team during the year which included:

Revd Leoné Martin joined us as Regional Minister in April 2025. Leoné’s role includes support for ministers and churches in the West Yorkshire area, supporting them in their mission focussed ministry and service. In addition to this, she leads our work amongst the growing UK Minority Ethnic and Global Majority Heritage community, developing and growing pipelines for training and releasing younger, more diverse missional leaders, pioneers, planters and ministers.

Regional Minister Revd Dr Nike Adebajo moved to a half-time role with the YBA alongside her parttime role as Baptist Formation Programme Leader with St Hild Centre for Baptist Ministry. And at the end of the year Revd Dr Alex Harris’s Regional Ministry role adjusted to a half-time one alongside increasing his role as Director of Church Planting with St Hild to half-time. Both adjustments directly support our priorities focussing on planting, leadership development, and seeking younger missional leaders.

Early in the year following reflection on our support for Children, Youth and Families work across the YBA, we appointed Revd Robin Smith to work for 12-months as a specialist consultant to help us consider future CYF provision.

In October 2025 we said farewell to our Finance Officer , Hannah Harris, who had been in post for almost 4 years. The Association and our member churches benefitted hugely from Hannah’s wisdom and expertise, and we were sad to see her go. Before Hannah concluded, we were pleased to appoint our own Iris Cheung to the finance role following an open recruitment process. Iris moved from an Administrator role into being our Finance Manager at the beginning of October.

And at the end of the year, Naomi Fennell concluded her role as our Young Adult Lead . We give thanks for Naomi’s ministry amongst us and wished her well as she steps into a new season. Responsibility for this aspect of our work is now picked up by Revd Leoné Martin.

Throughout the year, YBA trustees ensured that they continued to be engaged with and informed on progress with the national BUGB Financial Model Review . This was facilitated through our Treasurer, Chair of Trustees and Regional Team Leader who attended meetings and engaged in the review, thus ensuring that the wider YBA trustee group were appropriately informed. Work on this continues into 2026.

As always support for safeguarding across Baptist church life continues to be a key area of work for the Association with our Safeguarding Trustee supporting the Regional Team Leader and Administration Lead. Alongside providing general advice to our member churches and ministers, the Association is available to support churches should a safeguarding incident occur. In total around a third of our member churches required advice or support with safeguarding matters during the year. This is lower than in the previous year, and we believe that this is a result of the increased confidence that local church safeguarding leads have in their roles as well as a greater awareness generally of BUGB’s Excellence in Safeguarding resources which are freely available for reference on BUGB’s website.

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Docusign Envelope ID: 40873B42-5A7F-8173-82F9-725699330CED

The Yorkshire Baptist Association (Incorporated) Report of the Trustees (continued)

Achievements and Performance (continued)

We have also provided input into new churches and new expressions of church who are seeking membership of the Association, ensuring before they come into membership that they have policies and processes in place that are fit for purpose in the context of their mission field. Safeguarding training is offered using the excellent training resources provided through BUGB. During 2025, 16 training sessions were held, and more than 260 training places were taken up across both Level 2 and Level 3.

During 2025, our explorations with the Nigerian Baptist Convention continued around our shared aspiration to see Nigerian Baptist nationals, particularly students and young adults relocating to the UK, to be fully integrated and discipled into Baptist church contexts in Yorkshire. One key element of this was a Congress which took place over a weekend in July 2025. The purpose of the Congress was to facilitate an exploration of our aspirations with other stakeholders, with a hope of creating a road map for future partnership and activities. The key outcome of the Congress was recognition that this should be a wider initiative involving BUGB and others, and this has now moved into the next phase with a national focus.

Two key events held during 2025 were our Assembly and AGM which took place at Bingley Baptist Church in June and our Ministers Conference which was held in Scarborough in September. Both were well attended, with the Ministers Conference being fully booked. Our Assembly and AGM focussed on the theme of Connecting Well with our Communities, exploring how diverse projects such as food and clothing banks, social care and educational programs can be offered transformatively to local communities and become more impactful when rooted in a clear and compelling invitation to share Jesus. And our Ministers Conference took the theme of Missional Acts: Insights from the early church to inspire and inform our present-day practise. Guest speaker was Revd Dr Daniel McGinnis, Principal of St Hild College.

Our partnership with BigLife Europe remains important in the context of disciple making rooted in Biblical principles from the early church. We have seen people in YBA churches empowered to share faith, feel confident to form and lead discipleship groups, and in some cases train others. Through BigLife, people from 33 churches within the YBA have engaged with training, and people from 19 churches have actively sought to put the principles into practice. In June YBA trustees met with Peter Dunn to review our partnership. There continues to be significant coherence between both the vision of YBA and that of Biglife. The theme of ‘reimagining’ within our threefold priority is served well in particular by the partnership, as there is much in the approach of Disciple Making Movements (DMM) that stimulates a reimagined understanding of church. Our valued partnership continues.

During the year, the Staff Team have continued to pray together ; praying into the vision and priorities of the Association and for our member churches and leaders. Along with Monday lunchtime prayers and monthly Prayer & Fasting Days, each Wednesday members of the Team meet online with a minister or church leader to hear from them and to pray for them and their ministry. In March and September, we joined with Fresh Streams and other Regional Associations for shared days of thanksgiving, prayer, and worship. Hosted online, members of the YBA team and people from churches across the Association connected for focussed times of prayer with others from throughout the Baptist Union.

Ministry Matters remain a core activity for the Regional Ministers. This includes working with member churches when ministries end and facilitating their access to the settlement process when seeking new ministers. We are also involved in supporting those who are exploring a call to Baptist ministry, those who are in training and ministers who are in the newly accredited phase of their ministry. Leoné oversees this aspect of our work, and we are grateful for the volunteers of our YBA Ministry Group who support us through interviews, reviews and guidance.

Financial Review

During the year to 31 December 2025 the YBA had a total income of £697,999 (2024: £601,175). There were gains on the valuations of investments of £236,862 (2024: £66,564). The total expenditure was £595,391 (2024: £547,061). The net result of the year was net movement in funds of £374,632 (2024: £120,678).

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Docusign Envelope ID: 40873B42-5A7F-8173-82F9-725699330CED

The Yorkshire Baptist Association (Incorporated) Report of the Trustees (continued)

Financial Review (continued)

The YBA has been blessed through many financial and other generous gifts of time and expertise.

The YBA’s reserves policy continues to comprise of two elements: firstly, the YBA maintains a general reserve equivalent to approximately six months’ General Fund expenditure (approximately £290,000), and secondly, the YBA only maintains restricted reserves where the purpose is evidently practical. If any restricted reserve ceases to be active the YBA takes the appropriate administrative, legal and/or regulatory steps to wind up the reserve and then transfer remaining balances into the general fund. Target reserves will be achieved by maintaining a significant cash balance in addition to invested assets of relatively easily realisable nature. The charity’s free reserves at 31 December 2025 excluding restricted funds and fixed assets totalled £377,502 (2024: £756,176).

The YBA’s Executive group is responsible for annually reviewing and approving an investment policy statement which sets out a strategy and policies for risk, ethics, delegation of authority, reporting and training and guidance, with respect to the YBA’s cash management and investments. The policy, which complies with the Charity Commission recommended best practice ensures that the YBA is able to control and utilise its funds effectively in a controlled framework. The YBA’s objective is to generate income and capital returns, which will enable the YBA to at least maintain the real capital value of the portfolio so that the base from which income is derived is maintained in real terms. The YBA seeks to employ investment managers to ensure proper management of the assets and to obtain the returns required within acceptable levels of risk.

The YBA engages in effective 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 return on that money while minimising the associated risk. The overriding principle of the YBA’s investment policy is to avoid risk rather than to maximise return, whilst meeting the liquidity needs of the YBA. The key criteria for assessing the desirability of any potential investment, therefore, is security, liquidity and yield respectively. All short-term investments are paced with organisations that have a credit rating of A1/A+ or above and no single investment 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 will be placed to provide a spread of maturity throughout the year to meet liquidity.

Plans for 2026

Looking to the future, our key plans for 2026 will include:

As always, the trustees wish to say a big thank you to the many people who contribute to Association 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 practical and prayerful ways, we would not be able to report on such a diverse and wide-ranging scope of activity and work.

Funds Held as Custodian Trustee

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 investments within the framework of the Charities Act in consultation with our investment advisers and the objectives of the individual churches. The objectives of the churches and charities are in line with the objectives of the Association shown in this Trustees’ Report.

The details of the assets of each custodian fund held on behalf of the church or charity are set out in Note 21 in the financial statements.

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Docusign Envelope ID: 40873B42-5A7F-8173-82F9-725699330CED

The Yorkshire Baptist Association (Incorporated) Report of the Trustees (continued)

Auditor

The auditor, Azets Audit Services Limited, is deemed to be reappointed under section 487(2) of the Companies Act 2006.

Statement of Responsibilities of the Trustees

Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of 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 required to:

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence taking steps for the prevention and detection of fraud and other irregularities.

Small Company Rules

This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies. It was approved by the Board and signed on its behalf by:

Kevin Quinton Trustee and Chair of Trustees

_____ Dean Thorpe Trustee and Treasurer

Date: 20 May 2026

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Docusign Envelope ID: 40873B42-5A7F-8173-82F9-725699330CED

The Yorkshire Baptist Association (Incorporated) Independent Auditor's Report to the Trustees of The Yorkshire Baptist Association (Incorporated)

Opinion

We have audited the financial statements of The Yorkshire Baptist Association (Incorporated) (the 'charitable company') for the year ended 31 December 2025 which comprise the Statement of Financial Activities, the Balance Sheet, the Statement of Cash Flows and the related notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s 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 sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, 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 responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information 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 material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

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The Yorkshire Baptist Association (Incorporated) Independent Auditor's Report to the Trustees of The Yorkshire Baptist Association (Incorporated ) (continued)

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of our audit:

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 respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of trustees for the financial statements

As explained more fully in the Trustees' responsibilities statement, the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the charitable 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 unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

Our 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 includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Extent to which the audit was considered capable of detecting irregularities, including fraud Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above and on the Financial Reporting Council’s website, to detect material misstatements in respect of irregularities, including fraud.

We obtain and update our understanding of the entity, its activities, its control environment, and likely future developments, including in relation to the legal and regulatory framework applicable and how the entity is complying 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 perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. This includes consideration of the risk of acts by the entity that were contrary to applicable laws and regulations, including fraud.

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The Yorkshire Baptist Association (Incorporated) Independent Auditor's Report to the Trustees of The Yorkshire Baptist Association (Incorporated ) (continued)

In response to the risk of irregularities and non-compliance with laws and regulations, including fraud, we designed procedures which included:

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, 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 might state to the charitable company's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest 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, for our audit work, for this report, or for the opinions we have formed.

21 May 2026 Jessica Lawrence For and on behalf of Azets Audit Services Limited …………………………………………… Chartered Accountants 12 King Street Senior Statutory Auditor Leeds LS1 2HL

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Docusign Envelope ID: 40873B42-5A7F-8173-82F9-725699330CED

The Yorkshire Baptist Association (Incorporated)

Statement of Financial Activities for the year ended 31 December 2025 (Including Income and Expenditure Account)

Note Unrestricted Restricted Total Unrestricted Restricted Total
Funds Funds Funds Funds Funds Funds
2025 2024
£ £ £ £ £ £
Income from:
Donations and legacies 2 30,000 - 30,000 30,000 - 30,000
Charitable activities 3 616,708 - 616,708 501,489 - 501,489
Investments 49,355 1,936 51,291 67,162 2,524 69,686
Total income 696,063 1,936 697,999 598,651 2,524 601,175
Expenditure on:
Raising Funds 4 53,232 - 53,232 27,268 - 27,268
Charitable activities 5 541,234 925 542,159 518,691 1,102 519,793
Total expenditure 594,466 925 595,391 545,959 1,102 547,061
Net (expenditure)/income before
other recognised(losses)/gains		 101,597 1,011 102,608 52,692 1,422 54,114
Other recognised gains
Net gain on disposal of fixed assets 4,002 31,160 35,162 - - -
Net gains /(losses) on investments 10 242,793 (5,931) 236,862 62,608 3,956 66,564
Net movement in funds 13/14 348,392 26,240 374,632 115,300 5,378 120,678
Balance brought forward
13/14		 4,080,403 163,659 4,244,062 3,965,103 158,281 4,123,384
Balance carried forward 13/14 4,428,795 189,899 4,618,694 4,080,403 163,659 4,244,062

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. The notes on pages 14 to 29 form part of these statements. The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.

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Docusign Envelope ID: 40873B42-5A7F-8173-82F9-725699330CED

The Yorkshire Baptist Association (Incorporated)

Balance Sheet as at 31 December 2025

2025 2025 2024 2024
Note £ £ £ £
Fixed assets
Tangible assets 9 1,568,668 1,065,919
Investments 10 2,514,116 2,387,517
4,082,784 3,453,436
Current assets
Debtors 11 71,274 78,842
Cash at bank and in hand 772,726 1,015,333
844,000 1,094,175
Liabilities
Creditors: Amounts falling due within
oneyear		 12 (308,090) (303,549)
Net current assets 535,910 790,626
Total assets less current liabilities 4,618,694 4,244,062
Total net assets 4,618,694 4,244,062
Funds
Restricted funds 13/14 189,899 163,659
Unrestricted funds 13/14 4,428,795 4,080,403
4,618,694 4,244,062

The financial statements have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 applicable to small companies.

20 May 2026

These financial statements were approved by the board on ……………………….. and signed on its behalf by:

Dean Thorpe

Kevin Quinton Dean Thorpe Trustee and Chair of Trustees Trustee and Treasurer

The notes on pages 14 to 29 form part of these financial statements.

Company number: 00181581

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Docusign Envelope ID: 40873B42-5A7F-8173-82F9-725699330CED

The Yorkshire Baptist Association (Incorporated)

Statement of Cash Flows for the Year Ended 31 December 2025

2025 2024
Note £ £
Cash Flows from operating activities:
Net cash used in operating activities 18 (404,161) (84,037)
Cash Flows from investing activities:
Dividends, interest and rents from investments 51,291 69,686
Proceeds from sale of investments 4,250,448 664,172
Purchase of investments (4,140,185) (556,214)
Net cash provided by / (used in) investing
activities 161,554 177,644
Change in cash and cash equivalents in the year (242,607) 93,607
Cash and cash equivalents at the beginning of
theyear 1,015,333 921,726
Cash and cash equivalents at the end of the
year 772,726 1,015,333

The Charity had no debt in this or the previous year.

The Charity also holds cash in investments of £9,227 (2024: £23,097), this is held for investing purposes and accordingly is not included in the cash balances above.

Page 13 of 29

Docusign Envelope ID: 40873B42-5A7F-8173-82F9-725699330CED

The Yorkshire Baptist Association (Incorporated)

Notes to the Financial Statements for the Year Ended 31 December 2025

1. Accounting policies

The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows:

Charity Information

The Yorkshire Baptist Association is a charitable company. The registered office is 17-19 York Place, Leeds, LS1 2EX. The organisation’s Charity Number is 247173 and its company number is 00181581.

Basis of preparation

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019) (“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 prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £1.

The financial statements have been prepared under the historical cost convention, modified to include certain financial instruments at fair value. The principal accounting policies adopted are set out below.

Going concern

The trustees have prepared financial projections, taking into consideration the current economic climate and its potential impact on the sources of income and planned expenditure. They have a reasonable expectation that adequate financial resources 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 is considerable economic uncertainty particularly over the impact of inflation, the charity continues to maintain considerable cash reserves, more than sufficient to meet its immediate requirements, and the ability to reduce grants awarded in the future. Thus, the trustees have continued to adopt the going concern basis of accounting in preparing the financial statements.

Income

Income is recognised when the charity has entitlement to the funds, any performance conditions have been met, it is probable that the income will be received and the amount can be measured reliably.

Income from closed churches represents the fair value of assets transferred to the charity upon closure of a church. Any excess or deficit on sale is recognised as Profit on Sale of Closed Church Buildings.

Income from Government and other grants, whether ‘capital’ grants or ‘revenue’ grants is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred.

Entitlement to legacies is taken as the earlier of the date on which either: the charity is aware that probate has been granted, the estate has been finalised and notification has been made by the executor(s) 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 considered probable when the amount can be measured reliably and the charity has been notified of the executor’s intention 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 disclosed if material.

Page 14 of 29

Docusign Envelope ID: 40873B42-5A7F-8173-82F9-725699330CED

The Yorkshire Baptist Association (Incorporated)

Notes to the Financial Statements for the Year Ended 31 December 2025

Accounting policies (continued)

Donated services and facilities are recognised as income when the charity has control over the item, any conditions associated with the donated item have been met, and the receipt of economic benefit can be measured reliably. In accordance with the Charities SORP (FRS102), general volunteer time is not recognised. Refer to the trustees’ annual report for more information about their contribution.

Investment income is included when receivable and the amount can be measured reliably by the charity.

Fund accounting

Unrestricted funds are available to spend on the activities that further any purposes of charity;

Restricted funds represent income which the donor has specified to be solely used for particular areas of the Charity’s work.

Expenditure

Expenditure, which includes irrecoverable 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 measured reliably.

Expenditure is classified under the following activity headings:

All costs are allocated between the expenditure categories of the SOFA on a basis designed to reflect 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 (including payments) made to third parties in the furtherance of the charitable objectives of the charity.

Allocation of support costs

Support costs are those functions that assist the work of the charity but do not directly relate to charitable activities. Support costs include back-office costs, finance, personnel, payroll and governance costs which support the Trust’s activities. These costs have been allocated between cost of raising funds and expenditure on charitable activities. The basis on which support costs have been allocated are set out in note 6.

Operating leases

Rentals applicable in respect of operating leases where substantially all the benefits and risks of ownership remain with the lessor are charged to the Statement of Financial Activities as incurred.

Staff Costs

The costs of short-term employee benefits are recognised as a liability and an expense where settlement of obligations does not fall within the same period.

Pensions

The charitable company contributes to the Baptist Pension Scheme which is a multiemployer defined contribution pension scheme. As explained in note 17, the Yorkshire Baptist Association is unable to identify the assets and liabilities attributable to them in the scheme and there is no formal deficit recovery plan in place. In accordance with FRS 102 amounts paid to the Scheme are accounted for as if they were those of a defined contribution scheme.

Page 15 of 29

Docusign Envelope ID: 40873B42-5A7F-8173-82F9-725699330CED

The Yorkshire Baptist Association (Incorporated)

Notes to the Financial Statements for the Year Ended 31 December 2025

Accounting policies (continued)

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 estimated residual value over their expected useful lives as follows:

Freehold & Leasehold land and buildings Not depreciated Closed churches Not depreciated Computer equipment 20% straight line

Freehold & Leasehold land and buildings comprise two manses and five closed church buildings which 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 residual value is at least equal to the carrying value.

Fixed asset investments

Investments are a form of basic financial instrument.

Listed investments are stated at market value at the balance sheet date. The listed investment portfolio is held to generate returns and gains for the charity and accordingly is designated as fair value through profit and loss (“FVTPL”). Under this designation, the portfolio is revalued at each period end to its fair value, as determined by reference to quoted market prices and values determined by independent fund managers, with any gains or losses going through the SOFA.

Loans to churches

Loans made by the YBA to member churches are accounted for as mixed motive investments which are measured at historical cost less impairment, subsequent repayments and any accrued interest. These investments are mixed motive in nature and in accordance with the Charities SORP (FRS 102) amounts expensed are accounted for as grants to churches.

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 2025 was 4.75% (2024: 6.5%).

Stock

No account is taken of the stock of books and pamphlets, which are written off in the year of purchase and are of minimal value.

Financial Instruments

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other 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 term highly liquid investments with a maturity within the 12 months after the balance sheet date.

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 obligation resulting from a 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. Creditors and provisions are normally recognised at their settlement value after allowing for any discounts which may be due.

Financial liabilities are only derecognised when, and only when, the charity’s obligations are discharged, cancelled or they expire.

Page 16 of 29

Docusign Envelope ID: 40873B42-5A7F-8173-82F9-725699330CED

The Yorkshire Baptist Association (Incorporated)

Notes to the Financial Statements for the Year Ended 31 December 2025

Accounting policies (continued)

Amounts recognised as provisions are best estimates of the consideration required to settle the present obligation at the reporting end date, taking into account the risks and uncertainties surrounding the obligation.

Taxation

The Yorkshire Baptist Association is a registered charity and as such is a charity within the meaning of schedule 6 of the Finance Act 2010. Accordingly, the Charity is potentially entitled to tax exemption under part 11 of the Corporation Tax Act 2010 or section 256 of the Taxation of Chargeable Gains Act 1992 in respect of income and gains arising.

Critical Accounting Estimates and Judgements

In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting 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 future periods if the revision affects both current and future periods.

No depreciation is charged on freehold land and buildings including closed church buildings which 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 residual value is at least equal to the carrying value.

2. Income from donations and legacies

2025 2024
£ £
Sundrydonations and legacies(unrestricted) 30,000 30,000
Donations and legacies in the year ended 31 December 2025 include:
Harry Bottom Charitable Trust 30,000 30,000
Total 30,000 30,000

The Charity benefits greatly from the involvement and enthusiastic support of a number of volunteers, details of which are given in our annual report. In accordance with FRS 102 the economic contribution of volunteers is not recognised in the financial statements.

Page 17 of 29

Docusign Envelope ID: 40873B42-5A7F-8173-82F9-725699330CED

The Yorkshire Baptist Association (Incorporated)

Notes to the Financial Statements for the Year Ended 31 December 2025

3. Income from charitable activities

2025
2024
£
£
BUGB core funding
Interest on loans to churches
Income from churches for services rendered
Closed churches income
Other income		 224,713
188,285
12,701
25,838
(9,285)
62,025
344,799
200,670
43,780
24,671
616,708
501,489

All income from charitable activities is unrestricted in both the current and previous financial year.

4. Expenditure on raising funds

2025 2024
£ £
Office costs 19,415 16,996
Closed church property costs 33,817 10,272
53,232 27,268

5. Expenditure on charitable activities

Activity or programme Activities
undertaken
directly		 Grant
funding
of
activities		 Support
Costs
(note 6)		 2025
£ £ £ £
Ministry 31,873 - 418,811 450,684
Mission - 91,475 - 91,475
31,873 91,475 418,811 542,159
Activity or programme Activities
undertaken
directly		 Grant
funding
of
activities		 Support
Costs
(note 6)		 2024
£ £ £ £
Ministry 37,575 - 363,537 401,112
Mission - 118,681 - 118,681
37,575 118,681 363,537 519,793

Page 18 of 29

Docusign Envelope ID: 40873B42-5A7F-8173-82F9-725699330CED

The Yorkshire Baptist Association (Incorporated)

Notes to the Financial Statements for the Year Ended 31 December 2025

5. Expenditure on charitable activities (continued)

Charitable Activity costs include the following grants: 2025 2024
£ £
Grants to institutions:
Mission Grants 70,687 90,896
Biglife 6,000 12,785
All Nations Firvale 14,788 -
St Hild - 15,000
91,475 118,681

Expenditure on charitable activities was £542,159 (2024: £519,793) of which £541,234 was unrestricted (2024: £518,691) and £925 was restricted (2024: £1,102).

6. Support costs

2025 2024
£ £
Staff costs (note 8) 335,000 290,948
Regional Minister 20,056 19,216
Trust officer 12,859 12,670
Legal expenses 3,480 1,938
Governance 18,340 12,161
Other 29,076 26,604
418,811 363,537

7. Net income for the year is stated after charging:

2025 2024
£ £
Auditor's remuneration - Audit (excluding VAT) 10,100 9,660
- Accountancy (excluding VAT) 2,900 -
13,000 9,660

8. Analysis of staff costs, staff numbers, financial statements remuneration and expenses and the cost of key management personnel

The average monthly number of employees analysed by function was:

2025 2024
Mission 4 3
Ministry 5 5
9 8

The average number of full-time equivalent employees during the period was as follows:

2025 2024
Mission 2 2
Ministry 4 4

Page 19 of 29

Docusign Envelope ID: 40873B42-5A7F-8173-82F9-725699330CED

The Yorkshire Baptist Association (Incorporated)

Notes to the Financial Statements for the Year Ended 31 December 2025

6 6
8. Analysis of staff costs (continued)
Staff costs during the year were as follows: 2025 2024
£ £
Salaries 249,197 218,447
Social security costs 18,511 14,870
Pension costs 25,272 24,035
Other costs (Council Tax, Water charges, Accommodation) 42,020 33,596
335,000 290,948

No employees earned £60,000 or more during the year (2024: no employees).

Pension Costs are allocated to activities in proportion to the related staffing costs incurred and are wholly charged to unrestricted funds.

The Executive are in charge of directing and controlling the charity, with the Chairs of the working groups and the Regional Minister Team Leader comprising the key management personnel and running 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 gross pay, employer’s pension and employer’s national insurance contributions of £54,845 (2024: £52,616) plus allowances associated with housing of £12,413 (2024: £15,200).

No trustees received remuneration for their services during the current or previous financial year. One trustee received reimbursed expenses during the year of £57 (2024: two trustees, £453).

In addition to the staff costs shown, the part time YBA Trust Officer, is on secondment from Harrogate Baptist Church and has been charged at £12,677 (2024: £12,141).

9. Tangible assets

Closed
Church
Properties		 Freehold
Land &
Buildings		 Computer
Equipment		 Total
£ £ £ £
Cost or valuation:
At 1 January 2025 365,000 700,919 - 1,065,919
Additions 280,000 327,653 1,080 608,733
Disposals (105,804) - (105,804)
At 31 December 2025 645,000 922,768 1,080 1,568,848
Depreciation:
At 1 January 2025 - - - -
Charge for the year - - 180 180
At 31 December 2025 - - 180 180
Net book value:
At 31 December 2025 645,000 922,768 900 1,568,668
At 31 December 2024 365,000 700,919 - 1,065,919

Page 20 of 29

Docusign Envelope ID: 40873B42-5A7F-8173-82F9-725699330CED

The Yorkshire Baptist Association (Incorporated)

Notes to the Financial Statements for the Year Ended 31 December 2025

9. Tangible assets (continued)

At 31 December 2025, there were five closed church properties under the stewardship of the Yorkshire Baptist Association, Hope Baptist Church Chapel and Manse were added to closed church properties in 2025 following its closure as a cause in February 2025. Since YBA and BUGB jointly hold the properties as beneficiaries, they were added at half of the market value at £280,000 as no historical cost was available. At the balance sheet date, the market value of the properties has been included at a value of £645,000 (2024 £365,000).

10. Investments

Listed
Investments		 Bonds
Mixed Motive
Investments
Mixed Motive
Investments		 Cash 2025
£ £ £ £ £
Cost/value brought
forward		 2,006,477 80,000 277,943 23,097 2,387,517
Additions 2,072,937 - - 2,067,248 4,140,185
Disposals (2,075,239) - (102,271) (2,072,938) (4,250,448)
Realised and unrealised
gains		 245,042 - - (8,180) 236,862
Cost/value carried
forward		 2,249,217 80,000 175,672 9,227 2,514,116
Listed
Investments

Bonds
Mixed Motive
Investments

Cash		 2024
£ £
£
£		 £
Cost/value brought forward 1,941,492
80,000
337,818
69,601		 2,428,911
Additions 266,750 -
25,001
264,463		 556,214
Disposals (282,499) -
(84,876)
(296,797)		 (664,172)
Realised and unrealised
gains		 80,734 -
-
(14,170)		 66,564
Cost/value carried
forward		 2,006,477
80,000
277,943
23,097		 2,387,517

At 31 December 2025 £25,915 (2024: £35,993) is included in debtors in respect of the mixed motive investments. These amounts represent loans to churches which total £201,587 (2024: £313,936). The historical cost of listed investments is £1,995,000 (2024: £1,843,072). Bonds and mixed motive investments which comprise loans to churches are carried at cost less any provision for impairment.

11. Debtors

2025 2024
£ £
Trade debtors 45,359 42,849
Short term element of mixed motive loans to churches 25,915 35,993
71,274 78,842

Page 21 of 29

Docusign Envelope ID: 40873B42-5A7F-8173-82F9-725699330CED

The Yorkshire Baptist Association (Incorporated)

Notes to the Financial Statements for the Year Ended 31 December 2025

12. Creditors amounts falling due within one year

2025 2024
£ £
Accruals 15,792 9,660
Other Creditors 292,298 293,889
308,090 303,549

13. Analysis of movement in charitable funds

Balance 1 Balance 31
Year ended 31 January December
December 2025 2025 Income Expenditure Other gains
2025
£ £ £ £ £
Unrestricted Funds
General 4,080,403 696,063 (594,466) 246,795 4,428,795
Restricted Funds
Temperance 2,100 - - - 2,100
Closed Churches 161,559 1,936 (925) 25,229 187,799
Total restricted funds 163,659 1,936 (925) 25,229 189,899
Total funds 4,244,062 697,999 (595,391) 272,024 4,618,694
Balance 1 Balance 31
Year ended 31 January December
December 2024 2024 Income Expenditure Other gains 2024
£ £ £ £ £
Unrestricted Funds
General 3,965,103 598,651 (545,959) 62,608 4,080,403
Restricted Funds
Temperance 2,100 - - - 2,100
Closed Churches 156,181 2,524 (1,102) 3,956 161,559
Total restricted funds 158,281 2,524 (1,102) 3,956 163,659
Total funds 4,123,384 601,175 (547,061) 66,564 4,244,062

Page 22 of 29

Docusign Envelope ID: 40873B42-5A7F-8173-82F9-725699330CED

The Yorkshire Baptist Association (Incorporated)

Notes to the Financial Statements for the Year Ended 31 December 2025

13. Analysis of movement in charitable funds (continued)

Purpose of Restricted Funds:

Temperance Fund – the Temperance Fund was established for the purposes of making grants to churches for purposes of temperance.

Closed churches - the Closed Churches Fund arises from churches which have closed and now have no members. The assets have, in accordance with the Trust Deed, been transferred into the control of the Association within the restrictions placed upon the Association by reason of the Trust Deed or order of the Charity Commissioners. In some cases, the only restriction is for purposes connected with the Baptist denomination, as the Association shall direct, in which case these are treated as unrestricted funds.

14. Analysis of net assets by fund

Year ended 31 December 2025 General Restricted 2025
£ £ £
Fixed assets - Tangible assets 1,568,668 - 1,568,668
Investments 2,482,625 31,491 2,514,116
Net current assets 377,502 158,408 535,910
4,428,795 189,899 4,618,694
Year ended 31 December 2024 General Restricted 2024
£ £ £
Fixed assets - Tangible assets 972,158 93,761 1,065,919
Investments 2,352,070 35,447 2,387,517
Net current assets 756,176 34,450 790,626
4,080,404 163,658 4,244,062

15. Related party transactions

Baptist Union of Great Britain

The Association is a member of the Baptist Union of Great Britain (BUGB). During the year, it received grants from the BUGB as shown:

2025 2024
£ £
BUGB Core Funding 224,713 188,285

The YBA is not beneficially entitled to these funds but is merely acting as agent for BUGB and accordingly the charitable company does not recognise these amounts in income or expenses. The monies are held in a separate bank account and paid over to the BUGB periodically during the year.

Page 23 of 29

Docusign Envelope ID: 40873B42-5A7F-8173-82F9-725699330CED

The Yorkshire Baptist Association (Incorporated)

Notes to the Financial Statements for the Year Ended 31 December 2025

15. Related party transactions (continued)

The money collected and paid over during the year is detailed below:

2025 2024
£ £
Donations to the BUGB Home Mission Fund from Association
member churches		 186,047 188,455

Baptist Churches in Yorkshire

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.

2025 2024
£ £
When the Association carries out work for such churches, fees
are charged and the resulting income is shown as_Income from_
churches for services rendered. (9,284) 62,025
Loans made to churches during the year - 25,001
Loan repayments received from churches during the year 112,347 199,181
Interest on loans received from churches during the year 12,701 25,838
Fee paid to a church in respect of trust officer secondment 12,677 12,141
Grants made to churches during the year 70,830 85,294

Kevin Quinton is a trustee of St Thomas Crookes. During the year, The Yorkshire Baptist Association received income of £nil (2024 - £150) from St Thomas Crookes in addition to their BUGB Home Missions contributions. In addition, The Yorkshire Baptist Association made a payment of £350 (2024- £nil) to St Thomas Crookes in relation to a grant application.

16. Legal status of the charitable company

The charitable company is limited by guarantee, the liability 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. Pension costs

The YBA is a participating employer in the Baptist Pension Scheme (“the Scheme”), which is a separate legal entity administered by the Pension Trustee (Baptist Pension Trust Limited). The assets of the Scheme are held separately from those of the YBA and the other participating employers.

The Scheme, previously known as the Baptist Ministers’ Pension Fund, started in 1925, but was closed to future accrual of defined benefits on 31 December 2011. Prior to this date, the main benefit provided through the Defined Benefit (DB) Plan was a pension of one eightieth of final minimum Pensionable Income for each year of pensionable service together with additional pension in respect of premiums paid on Pensionable Income in excess of Minimum Pensionable Income.

In July 2022 an agreement was reached with Just Group to secure the Defined Benefit Plan Members’ pension benefits. From that date Just provided financial backing for all defined benefit pensions provided through the scheme. The responsibility for the defined benefits was fully transitioned to Just in November 2024.

From January 2012, pension provision is being made through the Defined Contribution (DC) Plan within the Scheme. In general, members pay 8% of their Pensionable Income and employers pay 6% of members’ Pensionable Income into individual pension accounts, which are operated and managed on behalf of the Pension Trustee by Broadstone Corporate Benefits Ltd.

Page 24 of 29

Docusign Envelope ID: 40873B42-5A7F-8173-82F9-725699330CED

The Yorkshire Baptist Association (Incorporated)

Notes to the Financial Statements for the Year Ended 31 December 2025

17. Pension costs (continued)

In addition, the employer pays a further 4% of Pensionable Income to cover Death in Service Benefits, administration costs, and an associated insurance policy which provides income protection for Scheme members if they are unable to work due to long-term incapacity. This income protection policy has been insured by the Baptist Union of Great Britain with Aviva Limited.

The Scheme is considered to be a multi-employer scheme as described in Section 28 of FRS 102. Because it is not possible to attribute the Scheme’s assets and liabilities to specific employers, the scheme is accounted for as if the Scheme were a defined contribution scheme. YBA staff members are eligible to join the Scheme.

Actuarial 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 Actuary using the Projected Unit Method. At the valuation date the market value of the DB Plan assets was £298m, whilst the level of assets needed to pay benefits was £316m, giving a deficit of £18m (equivalent to a past service funding level of 94%). The 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:

The key financial assumptions underlying the valuation were as follows:
Type of assumption % p.a.
RPI price inflation assumption 3.20
CPI price inflation assumption 2.70
Minimum Pensionable Income Increase Adjustment (above CPI) 0.50
Pre-retirement assumed investment returns (gilt yield plus 1.75% p.a.) 2.95
Post retirement assumed investment returns (including benefits
matched by the insurance policy) (gilt yield plus 0.5% p.a.) 1.70
Minimum Pensionable Income increases (CPI plus 0.5%) 3.20
Deferred pension increases (based on RPI)
Pre April 2009 3.20
Post April 2009 2.50
Pension increases based on CPI with an annual floor of 0% and annual cap of 5% 2.70

Mortality is assumed in accordance with 80% of the S3NA standard mortality table. Future improvements projected from 2013 in line with the “CMI 2019” projection with a long-term rate of improvement of 1.75% p.a. for males and 1.5% p.a. for females with the core smoothing parameter and with additional initial mortality improvement factor A = 0.5%.

Pension cost for the year

DC contributions
DB deficit contributions		 2025
2024
£
£
25,272
24,024
-
11
25,272
24,035

At the year end the estimated debt is £nil (2024: £nil).

The Scheme has provided an estimate of the costs to leave the scheme, which would equate to £1,000. This is for information only, as it is not payable until the YBA ceases to employ any active members of the Scheme or leave the scheme, which eventuality is considered to be extremely unlikely.

Page 25 of 29

Docusign Envelope ID: 40873B42-5A7F-8173-82F9-725699330CED

The Yorkshire Baptist Association (Incorporated)

Notes to the Financial Statements for the Year Ended 31 December 2025

18. Reconciliation of Net Movements in funds to Net Cash Flow from Operating Activities

2025 2024
£ £
Net movement in funds 374,632 120,678
(Gains) / losses on investments (236,862) (66,564)
Investment income (51,291) (69,686)
Depreciation 180 -
Gain on disposal of fixed assets (35,162) -
Proceeds from the sale of fixed assets 140,966 -
Purchase of tangible fixed assets (608,733) (150,000)
(Increase)/decrease in debtors 7,568 118,918
Increase/(decrease) in creditors 4,541 (37,383)
(404,161) (84,037)

19. Operating lease commitments

Lessee

At the 31[st] December the charitable company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

Within one year
Between two and five years
In over five years		 2025
£
16,200
39,150
55,350		 2024
£
14,850
55,350
-
70,200

20. Post balance sheet events

Subsequent to the year end a valuation has been received for the Beauchief Baptist Church which closed in 2025 and its Manse. The initial valuations are of £495,000 for the church building and £500,000 for the Manse. The value of these has not been reflected in these 2025 accounts on the basis that the value could not be ascertained at the year end.

Page 26 of 29

Docusign Envelope ID: 40873B42-5A7F-8173-82F9-725699330CED

The Yorkshire Baptist Association (Incorporated)

Notes to the Financial Statements for the Year Ended 31 December 2025

21. Custodian trust assets

The Association holds as Custodian Trustees certain assets for the churches and associated charities within the Association. The Trustees do not have any direct title to these funds but administer their investments within the general framework of the Charities Act in consultation with their Financial Advisors, Brewin Dolphin and the objectives of the individual churches.

The objects of the churches and charities are in line with the objects of the Association shown in the Trustees’ report. The investments are kept in safe custody and controlled by means of an Investment Register and the Cash Deposits controlled by means of a Financial Statements Ledger, which are periodically reconciled.

The following schedule shows the assets of each custodian fund held on behalf of the church or charity. Investments are shown at their market value at 31 December 2025 and 2024:

Investments Cash Deposits Total Investments Cash Deposits Total
2025 2025 2025 2024 2024 2024
£ £ £ £ £ £
Barnsley - Sheffield Road - 22,224 22,224 - 21,344 21,344
Barnsley‐Ward Green - 228,357 228,357 - 270,116 270,116
Bingley 7,530 4,400 11,930 7,936 4,226 12,162
Blackley - 89,455 89,455 - 128,963 128,963
Bradford - Bethel - 52,575 52,575 - 50,492 50,492
Bradford‐Clayton - 11,873 11,873 3,184 8,320 11,504
Bradford‐Tetley Street - 46,047 46,047 - 44,223 44,223
Bradford‐Westgate 11,851 22,788 34,639 10,101 21,885 31,986
Bridlington - 10,659 10,659 - 10,237 10,237
Conisbrough - 1,421 1,421 - 1,365 1,365
Dewsbury 44,812 - 44,812 39,545 - 39,545
Carried Forward 64,193 489,799 553,992 60,766 561,171 621,937

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Docusign Envelope ID: 40873B42-5A7F-8173-82F9-725699330CED

The Yorkshire Baptist Association (Incorporated)

Notes to the Financial Statements for the Year Ended 31 December 2025

21. Custodian trust assets (continued)

Investments Cash Deposits Total Investments Cash
Deposits		 Total
2025 2025 2025 2024 2024 2024
£ £ £ £ £ £
Brought forward 64,193 489,799 553,992 60,766 561,171 621,937
Doncaster‐Chequer Road - 17,921 17,921 - 17,211 17,211
Farsley 9,571 677,369 686,940 8,157 650,017 658,174
Golcar 7,121 822,391 829,512 6,976 209,361 216,337
Guiseley - - - - 15 15
Hebden Bridge – Hope - - - - 6,313 6,313
Huddersfield‐Birkby - 53,277 53,277 - 51,166 51,166
Huddersfield‐Milnsbridge - 36,940 36,940 - 11,078 11,078
Huddersfield – Salendine Nook 162,696 8,560 171,256 157,917 8,221 166,138
Hull‐Boulevard - 56,857 56,857 - 54,605 54,605
Hull‐Priory - 31,468 31,468 - 30,221 30,221
Leeds‐Blenheim - 332,695 332,695 - 319,513 319,513
Leeds‐Bramley - 5,197 5,197 - 4,991 4,991
Leeds‐Moortown - 29,365 29,365 - 28,201 28,201
Leeds‐Revive - 5,293 5,293 - 5,084 5,084
Carried Forward 243,581 2,567,132 2,810,713 233,816 1,957,168 2,190,984

Page 28 of 29

Docusign Envelope ID: 40873B42-5A7F-8173-82F9-725699330CED

The Yorkshire Baptist Association (Incorporated)

Notes to the Financial Statements for the Year Ended 31 December 2025

21. Custodian trust assets (continued)

Investments Cash Deposits Total Investments Cash Deposits Total
2025 2025 2025 2024 2024 2024
£ £ £ £ £ £
Brought forward 243,581 2,567,132 2,810,713 233,816 1,957,168 2,190,984
Leeds‐York Road - - - - 4,050 4,050
ME Iredale Trust - 13,002 13,002 - 13,002 13,002
Meltham - 10,998 10,998 - 10,998 10,998
Mexborough - 8,342 8,342 - 8,012 8,012
Mirfield 24,842 80,252 105,094 21,173 77,072 98,245
Normanton - 123,250 123,250 - 118,367 118,367
Rawdon - 48,961 48,961 - 47,021 47,021
Rotherham - 5,932 5,932 - 5,697 5,697
Rothwell - 21,594 21,594 - 36,299 36,299
Scapegoat Hill 253,975 80,333 334,308 251,598 58,244 309,842
Scarborough‐Albemarle - 16,105 16,105 - 15,467 15,467
Sheffield‐Cemetery Road 11,000 27,034 38,034 11,000 41,454 52,454
Sheffield‐Darnall Road - 20,443 20,443 - 19,633 19,633
South Craven 154,274 1,544 155,818 128,998 1,483 130,481
Todmorden‐Vale - 39,532 39,532 - 28,080 28,080
West Craven - 1,370 1,370 - 1,316 1,316
York - Acomb - 50,477 50,477 - - -
Total 687,672 3,116,301 3,803,973 646,585 2,443,363 3,089,948

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