EAST MIDLAND BAPTIST TRUST COMPANY LIMITED
IA Company Limited by Guarantsel
REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS
YEAR ENDED 31ST DECEMBER 2024
Charity Number: 250068
Company Number.. 00178555

EAST MIDLAND BAPTIST TRUST COMPANY LIMITED
{Company Limited By Guarantee)
CONTENTS
Page
Company Inbrmation
Annu81 Report of the Trustees
Independent Examinerfs Report
statement ol Financial Acb'vilies
Balance Sheet
Notes to the Accounts
8-15

EAST MIDLAND BAPTIST TRUST COMPANY LIMITED
(Company Limited by Guarant981
COMPANY INFORMATION
TRUSTEES
Dr C D Hanning
MrA D Srnall￿dge
Mr G N Anderson
Revd M Clay
Revd D C Harvey
(Chairman}
(Treasurer)
COMPANY SECRETARY
Mrs R Nicholls
KEY MANAGEMENT
All Trustees
REGISTERED OFFICE
Baptist House
PO Box 44
129 Broadway
Didcol
OXFORDSHIRE
QX11 8RT
REGISTERED NUMBER
00178555
CHARITY NUMBER
250068
BANKERS
Lloyds TSB
43 Irongate
DERBY
DEI 3FT
INDEPENDENT EXAMINER
A R R Price FCA
A R R Pric& Llmited
Chartered Accounlanls
17 Newslead Grove
NOTTINGHAM
NGI 4GZ

EAST MIDLAND BAPTIST TRUST COMPANY LIIJIITED
(Company Llmited by Guarantee)
ANNUAL REPORT OF THE TRUSTEES
The trustees present their report with the financial statements of the charitsble company for the year ended
31st December 2024.
OWECTS AND ACTIVITIES
Aim$ and objectives
The East Midland Baptist TN81 Company Limited is a company limited by guarantee and also a registered
charity and its objects are as sel out In the Memorandum and Articles of Associabon dated 1st January
2002 and include provision as to..
The prorTh)tion of Evangelical religion In the East Midlands or elsewhere according to the principles
and usage for the time being of Protestants ot the Baptist Denomination.
Promote, or assist in promoting, or assist in the building, repairing and restoring places or cenlres
of worship, Minister5, houses, Halls, Schools, Colleges, Institutions and other buildings.
Provide rnonies required for 811 or any of such purposes.
The exercising of corporate twsteeship over those churehes in trust with the company.
ACHIEVEMENTS AND PERFORMANCE
Achievements
In furthering its primary objective during 2024 the Company continued to act as Custodian Trustee for the
churches in Trust with it and as Mar¢agemenl Trustee ft)r a few properties and Trust Funds.
The duties carried out included..
Accounliny to individual churches for interest earned on fvnds held.
b. Approving plans Submitted where alleralions were proposed, ensuring that sufficient funds were
available lo setViGè any loans taken out and that the correct procedures had been followed in the
use of architects and quantity surveyors.
c. Aggregating funds held on behalf of churches and the East Midland A550ciation in order to secure
the best rates of interest at minimtjm risk through a spread of investmen15. This activity was ￿aSed
In March 2023 and Churches invested their funds in the Baptist Union cash investment accounts or
opened their own investment accounts.
d. Making grants lo local churches from various Restricted Funds.
Financial Review
Total Incoming resources for the year were £39,84512023.' £65,064). Total resources expended for the year
were £10,36912023". £40,564). Vvhere costs are shared between unreslrictecl and reslrlcted activities, they
have been apportioned by the Trustees on the basis of amount used.
The funds al 31st December 2024 were £1.191,82212023. £1,162,386) of which £ 523,30712023. £88,010)
were unrestricled £322,50812023'. £311,674 as reststed} were restricted and £348,00712023." £762,682 as
restated} were endowed funds.
Reserves Policy
In order to provide a quality, effective and efficient service to its beneficiaries the Trustees are aware of the
desirability of setting a level of reseNes that. in the event of funding not being sufficient lo cover expenses in
the future. a smooth transition ¢an be made to a lower level of service.
However. the njnning costs of the company are generally quite rnodest and always capable of being covered
by a ¢orresponding level ol investment income. The Trustees do not therefore consider that any level of
reseivès is required but will review this policy on an annual basis. Total general reserves at 31 sl December
2024 are £523,30712023. £88.0101

EAST MIDLAND BAPTIST TRUST COMPANY LIMITED
(Company Limited by Guaranteol
ANNUAL REPORT OF THE TRUSTEES
Investment Policy
From March 2023, following an investment review, the policy was changed. From this date surplus funds
were deposited in a Baptist Union Corporation cash deposit account. The interest on this account tracks the
Base Rale and is on one year noti￿,
STRUCTURE, GOVERNANCE AND MANAGEMENT
Constitution
The rnain decision-making body of the Company during the year ended 31st December 2024 was the Board
of Directors has appointed by the Parent Company, the Eest Midland Baptist Association Limited, with effect
from 1st January 2002.
In addition to the Directors (the Trustees) the Company wa5 sefved by a Trust Officer and employee of the
Baptist Union Corporation Limited, to whom the Company paid 8n appropriate fee.
The Trust Company is wholly owned subsidiary of the East Midlands Baptist Association. Recruitment to fill
a vacancy for a director 15 notified by the Trust lo the Association Board, who then seeks a Suitable
replacement from the churches of the association and. after discussion al their board meeting makes Ihe
appointment lo the EMBTC board.
In connection with the corporate trusteeship ofthose churches in trustwith the Association. the EMBTC board
has delegated its responsibilities to a specialist Trusteeship Committee. under the guidan¢e of the Manager
of the Baptlsl Union Corporation Ltd, for whose seNice5 a fee is paid.
The company has continued to provide financial support for capital PLJrposes to various churches within the
East Midland Association. These have been by way of loans on terms ag￿ ed by the Trustees. The company
has also provided expert advice on legal and property issues lo churches involved in extensive building work
or in the buying and selling of manse properties.
Trustees
The trustees of the company during the year and at the year-end were those appointed by the Parent
Company, the East Midland Baptist Association Limited, as detailed below.
Dr C D Hanning
Mrs R Nicholls
Chairman
Company Secretary
Treasurer
Treasurer
Mr T D dack50ll
(Resigned 30.9.241
Mr A D Smallridge (Appointed 10.1 Q.241
Revd M Fegredo
(Resigned 30 9.241
Revd M Clay
Mr G N Anderson
Revd Mr D C Harvey (Appointed 1.11.241
Risk Revlew
The trustees have exaFnined the major risks which the Gharity faces and confirm that systems have been
established so that the necessary steps can be taken to reduce these risks.
Statement on Public Benefit
The objectives and activities. and achievement and performance sections of this rerx)rt clearly sel out the
activities which the charity undertakes for the public benefit The Trustees confirm that they have complied
with the duty in section 4 of the Charities Act 2011 to have due ￿gard to public benefit guidance publishe
by the Commission in determining the activities undertaken by the charity.

EAST MIDLAND BAPTIST TRUST COMPANY LIMITED
{Company Limited by Guarant0el
ANNUAL REPORT OF THE TRUSTEES
STATEMENT OF TRUSTEES. RESPONSIBILITIES
The trustees Iwh¢ are also directors ol East Midland Baptist Trust Company Limited for the purposes of
company lawl are responsible for preparing the Councils. Annual Report and the financial statements in
accordanGe with applicable law and United Kingdorn Accounting Standards (United Kingdorn Generally
AC￿pIed Accounting Practice).
Company law requires the trustees lo pr8pare financial statements for each fin8ncial year. which give a true
and fair view of the state of affairs of the charitable company and of the incoming resources and application
of resources, inclLJding the income and expenditure, of Ihe charitable Company for that period. In preparing
these financial stalemenls, the trustees are required to".
select suitable accounting policies and then apply them consistently.,
observe the methods and principles in the Charities SORP 2015 IFRS 1021.,
make judgements and estimates that are reasonable and PTudent',
slate whether applicable UK Accounting Standards have been followed, subject to any
Material departures disclosed and explained in the financial statements-
prepare the financial statements on the going concem Lsasis unless it is inapproprrate to
presume that the charitable company will Continue in operation.
The trustees are responsible for keeping adequate accounting records that disclose with reasonable
accuracy at any lirne the financial position of the Charitable company arsd enable them lo ensure that the
financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the
assets of the charitable company and hence for taking rea80nable steps for the prevention and detection of
fraud and other irregularities.
In 50 far as the Iruslees are aware-.
there is no relevant information of which the charitable company's independent examiner is
unaware., and
the trustees have taken all steps that they ought lo have laken lo make themselves aware of any
relevant Information and lo establish that the independent examiner is aware of that information.
The report has been prepared havlng taken acfvanlage of the small companips exemption in the Companies
Act 2006
Approved by the Trustees on
and signed on their behalf by..
Dr
anning

EAST MIDLAND BAPTIST TRUST COMPANY LIMITED
Icompany Limited by Guarantee)
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES
I reFX)rt on the a¢¢ounts of the charitable company for the year ended 31st Decernber 2024 which are sel out on
pages 6 to 15.
This report is made solely to the Charity's Trustees as 8 bC￿y, in accordance with Section 145 of the Charities
Act 2011. My independent examination work has been undertaken so that I might stale to the Charities Trustees
Ihose mallers l am required lo slate to them in an Independent Examiner's Report and for no other purpose. To
the fvllest extent permitted by law, I do not aC￿p1, or assume responsibility to anyone other than the Charity and
the Charity's Trustees as a body, for my Independent examination work, for this report, or for the opinions I have
found
Responsibilities and basis of the report
As the charity's Trustees of the company land 81so ils Dlreclors for the purposes of company law) are responsible
for the preparation of the accounts in accordan￿ wrth the ￿quirementS of the Companies Act 2Tr)61 the 2006
Act,)
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the
2006 Act and are eligible for independent examination, I report in respect of my examingtion of your charity's
accounts as carried out under section 145 of the Charities act 2011 1 the 2011 A¢t'l. In carrying out my
examination I have followed the Directions given by the Charity Commission under section 14515llbl of the 2011
Indgpendgnt examiner's statemenl
I have completed my èxamination. I confirm that no matters have come to ry attention in connectlcn with the
examination giving me cause lo believe..
accounting records were not kept in respert of the company as required by section 386 of the 2006
Act, or
2. the accounts do not accord with those records., or
3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act DlheT
than any requirement that the accounts give a tme and fair vi8w which is not a matter considered
as part of the independent examination.. or
4. the accoun15 have not been prepared in accordance with the methods and principles of the
Statemerrt of Recommended Practice for accounting and reporting by Charities (applicable to
charities preparing their accounts in accordance with the Financial Reporting Standard applicable
in the UK IFRS1021
I have no concerns and have come across no other matters in connecb'on with the examination to which attention
should be drawn in this report in order to enable a proper understanding of the accounts lo be reaGhed.
Name: A R R PRICE FCA Chartared Accountsnt
For and on behalf of A R R Price Limited
17 Newstead Grove
NortlNGHAM
NG14GZ

EAST MIDLAND BAPTIST TRUST COMPANY LIMITED
{Company Limtied by Guarante8}
STA TEMENT OF FINANCIAL ACTlVtTES
Ilncluding income and expenditure accounti
FOR THE YEAR ENDED 31ST DECEMBER 2024
Notes
Unrestri¢t8d RestriGted Endowed
Funds
Funds
Funds
Total
Funds
2024
Total
Funds
2023
Income from..
Donatioris
5300
Bank and investment income
Trustee fees and other Income
17.894
1.006
10,834
10.111
38,839
49,561
Total income
18,900
10,111
39,845
65,084
Expenditure on..
Raising funds
Charrtable activities
1,126
39,438
10,389
10,389
Total expenditure
10,389
10,389
40,564
Nel Incominglloutgoingl resources
Nel gainsjllossesl on investments
8,511
10,834
10.111
29,456
24,500
24.711
Transfers
426 786
426,788
Net movèment in funds
435.297
10.834
416,675
29,456
Reconcillatlon of funds
Totsl funds brought lorward as
reststed
13
88.010
311,674
762,682 1,162,366 1,113,155
Total funds carried fDrward
523.307
322,508
346.007 1,191,822 1.162 366
All transactions are derived from continuing activrties.
All recognised gains and losses 8re inc5uded in the Statement of Financial Activities.

EAST MIDLAND BAPTIST TRUST COMPANY LIMITED
(Company Limited by Guarantee)
BALANCE SHEET
AS AT 31ST DECEMBER 2024
Notes
2024
2023
As restated
Fixed Assets
Tangible assets
Investments
880,036
4,967
453,250
4,967
885,003
458217
Current A5Sgts
Debtors
Cash at bank and in hand
9.303
891.g55
16,575
1282,876
10
901,258
1.299,451
Creditors.. amounts fallirbg due within one year
594,439
595.302
Net Current AssetsllLiabilitiesl
306,819
704,149
Not Assets
1.191,822
1.162.366
Represented by:
Endowment funds
Reslricled income fLtnds
Unrestricted funds
12113
12113
13
346,007
322,508
523 307
762,682
311,674
88.010
Total Charty Funds
1,191,822
1,162,366
The charitable company is enlilled to exemption from audil under Section 477 of the Companies Act 2006 for the
year ended 31st De￿mber 2024
The members have not requir8d the charitable company to obtain an audit of its financial statements for the year
ended 31st December 2024 in accordanTr with Section 476 of the Companies Act 2006.
The Trustees acknowledge their responsibilities for..
{al ensuring that the company keeps accounting records which comply with Sections 386 and
387 of the Companies Act 20Q6', and
(bl preparing fin8ncial statements which give a true and fair view of the state of affairs of the
company as at the end of each financial year and of ils profft or loss for each financial
year in accoldan￿ with the requirements of Section$ 394 and 395 and which otherwise
omply with the requirements of thè Companies Act 2006 relating to financial statements,
so far as applicable lo the company.
The accounts have been prepared in ￿COrdanCe with the provisions applicable to companies SLEbject to the small
companies regime.
Approved by the Board of Tru5tÉes on .
and signed on their behalf by..
Mr A D Smallridge
Treasurer
Drc
Trustee
ing
31Dg
The notes on pages 8 to 15 form part of these financial statements.

EAST MIDLAND BAPTIST TRUST COMPANY LIMITED
(Company Llmlted by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31ST DECEMBER 2024
ACCOUNTING POLICIES
Basis of preparation
East Midland Baptist Trust Company Limited is a company limited by guarantee in the United
Kingdom_ In the event of the charity being wound up, the liability in respect of the guarantee is
limited lo £1 per member of the charity. The address of the registered office 15 given in the charity
information on page 1 of Ihestt financial statements. The nature of the charity's operations and
principal activities are set out on pages 2 and 3.
The charity constitutes a public benefit entity as defined by FRS 102. The financial Statements
have been prepared In accordance with Accounting and Reporting by Charities.. Statement of
Recommended Practice applicable to charities preparing their accounts in accordance with the
Financial Reporting Standard applicable in the UK IFRS 1021 issued on 16 July 2014, the
Financial Reporting Standard applicable in the United Kingdom IFRS 102}, the Charities Act
2011, the Companies act 2006 and UK Generally Accepted Practice as it applies from 1 January
2015.
The financial statements are prepared on a going concern basis under the historical cost
convention, modified to include certain iterns at fair value. The financial statements are prepared
in sterling which is the ftjnctional currency of the charity.
The significant accounting policies applied in the preparation of these financial statements are set
out below. These policies have been consistently applied ID all years presented unless Otherwise
stated.
Incoming and endowments
All incoming resources are included in the Statement of Financial Activits"es ISOFAI when the
charity is legally enlilled lo the income after any performan￿ conditions have been met, the
amount can be measured reliably and it is probable that the income will be received.
Donation and legacy incomè are included in full in the St8temenl of Financial Activities when
receivable.
Investment income is included when receivable.
Expenditure
All expenditure is accounted for on an accruals basis and has be8n classified under headings
that aggregate all c051s related lo the category. Expenditure is recognised where there is a leg81
or constructive obligation to make payments to third parbes, il is probable that the settlement will
be required and the amouT)t of the obligaliorb can be measured reliably. It is ¢alegorised under
the following heading5".
Raising funds includes investment management fees.
Charitable activities comprise those costs incurred by the charitable company in the
delivery of ts activities and services for its beneficiaries. 11 includes both costs allocated
directly lo such activities and those costs of an indirect nature necessary lo support them.

EAST MIDLAND BAPTIST TRUST COMPANY LIMITED
{Company Limlted by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31ST DECEMBER 2024
Support costs allocatlon
Support Costs are those that assist the work of the charity but do not directly represent charitable
activities and include offi'ce costs, governance costs, administrative p2yroll cost5. They are
incurred directly in support of expenditure on the objects of the chafity and include project
management carried out al Headquarters. Where support costs cannot be directly attributed to
particular headings, they have been allocated to charitable activities on a basis consistent with
use of the resources_
The anatysis of these costs is included in note 4.
Tangible assets
Depreciation ha5 not been provided on the properties owned by the charitsble company, as in
the opinion of the trustees, the dispo￿[ value of the assets is not expected to be less than the
carrying value.
Investm8nts
Investments are recognised initially at their transaction value which is normally the trsnsaclion
price less transaction costs. Subsequently, they are measured al fair value with changes
recognised in 'net gains Illossesl on investments, in the SOFA if the shares are publicly traded or
their fair value can otherwise be measured reliably.
Debtots and creditorn receivablelpayable wlthin one year
Debtors and ¢￿dItorS with no stated interest rale and receivable or payable within one year are
recorded at transaction price. Any losses arising from impairment are recognised in expenditure.
Taxation
The company is a registered charity and is therefore entitled to the exemptions from corporation
tax afforded by section 505 of the Income and Corporation Taxes Act 1988. Accordingly, there
is no corporation tsx charge in these financial statement5.
Custodian trustee funds
The charilable company holds funds on behalf of chur¢hes within the East Midlands Association
as Custodian Trustee. Responsibility for managing these funds rests with the management
trustees of the respective churches, and detsils of these assets should appear in their own
accounts. As Custodian Trustee we have a duty to disclose the information relatin9 to assets
held and details appear on page 15.
Fund$
Permanent endowfflenl funds are capitsl funds where the￿ is no power to convert capttal into
income. They musl generally be held indefinitely except where the Charity Commission has
agreed otherwise.
Restricted funds 8re funds that can only be used for particular restricted purposes within the
objects of the charitable company. Restrictions arise when don0￿ sp8cify the purpose for which
the in¢ome can be used.

EAST MIDLAND BAPTIST TRUST COMPANY LIMITED
(Company Llmlt&d by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31ST DECEMBER 2024
Funds (continued)
Unrestricted funds are donation5 and other incoming resources receivable or geNer8ted for the
objects of the charitable company without specified purpose arnd are availab18 a5 general funds.
Endowment funds represent those assets which mLJSt be held permanently by the charity. Income
arising on the end¢)wmenl funds can be used in accordance with the objects of the charity and is
included as unrestricted income. Any capital gains or losses arising on the inve51m8nt5 form part
of Ihe fund. Investment management charges and legal advice relating to the fvnd are charged
against Ihe fund.
Going Concern
The financial statements have been prepared on a going concem basis as the Iruslees believe
that no material uncertainties exist. The trustees have considered the level of funds held and the
expected level of income and expenditure for 12 rnonths from authorising these financial
stalemenls. The budgeted income and expenditure is sufficient with the level of reserves ft)r the
Charity to be able to continue as a going cOn￿M.
Judgements and key sources of estlmation uncertainty
Accounting eslimales and judgements are continually evaluated and are based on historical
experience and other factors, including expectations ol future events that are believed to be
reasonable under the circumstances.
The￿ are no key assumptions concerning the future and other key sources of estimation
uncertainty al the reFX)rting date that have a Significant risk of causing a material adjustment to
the carrying amounts of assets and liabilities within the next fin2nc1al year.
INCOME FROM INVESTMENTS
Unrestricted Restricted Endowed
Funds
Funds
Funds
2024
Total
2023
Total
Bank and investment income
EXPENDITURE ON RAISING FUNDS
Unrèstricted Rgstricted Endowed
Fund8
Funds
Funds
2024
Total
2023
Total
Investment management
12

EAST MIDLAND BAPTIST TRUST COMPANY LIMITED
{Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31ST DECEMBER 2024
4 EXPENDITURE ON CHARITABLE ACTIVITIES
Direct
Costs
Support
Costs
Total
Costs
2024
Total
Costs
2023
Grants and gifts
Propetyllegal costs
Trusteeship fee
Church loans written off
Printing, postage, telephone and sundry
Independent examiner's fee
25,000
696
8,200
4,359
103
1,080
8,8D5
8,805
158
1,426
158
1.426
10,389
Grants in 2023 of £25,000 are lo five Baptist churohes for building improvements,
10.389
39,438
INDEPENDENT EXAMINERS REMUNERATION
The independent examiners remuneration amounts to £1,42612023'. £1,080).
EMPLOYEES, TRUSTEES AND KEY MANAGEMENT
None of the trustees or key management receive any remuneration and there are no staff costs12023-
No Iravelling, Gonference and other expenses were reimbursed to directors {2023.' nill.
TANGIBLE ASSETS
Unrestricted Restricted Endowed
Funds
Funds
Funds
2024
Total
2023
Total
Freehold Property
As
reststed
re5taled
COST AND NET BOOK VALUE
As al 1 st Janusry 2024
Additions
408,250
426,788
17,000
28,000
453,250
426,786
453,250
As at 31st Oecember 2024
835,036
17,000
28.000
880.038
453,250
Represented by the following freehold
properties..
178 Oxclose Lane, Arnold, Notts,
40 Trueway Drivè, Shepshed, Leics
45 Worwood Drive, West Bridgford, Notts
835,036
17,000
28.000
880 036
453 250

EAST MIDLAND BAPTIST TRUST COMPANY LIMITED
(Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31ST DECEMBER 2024
INVESTMENTS
Association Restrlcted Endowed
Funds
Funds
Funds
2024
Totsl
2023
Total
UK Listed shar8$ and securrties
Market value as at 1 st January 2024
Additions
4,967
4.967
1.481,216
Disposals
Net realisedlunrealised G8insllLosses)
ILossesllGains attributable lo EMBA
Re-apportionment lo currenl assets
11,527,629)
24,711
21,701
4.968
Market value as at 31st December 2024
4,967
4,967
4,967
DEBTORS
Unrestricted Restrfcted Endowed
Funds
Funds
Funds
2024
Total
2023
Total
Accrued income
9,303
9,303
16,575
9,303
9,303
16,575
10
CASH AT BANK AND IN HAND
Association Restricted Endowed
Funds
Funds
Funds
2024
Total
2023
Total
OIF and Lloyds Accounts
268.440
305.508
318,007
891.955 1,282,876
11
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Association Restricted Endowed
Funds
Funds
Funds
2024
Total
2023
Total
Inter-company awount
Creditors and accruals
593,189
1.2SO
593,189
1,250
594,302
1.000
594,439
594,439
595.302

EAST MIDLAND BAPTIST TRUST COMPANY LIMITED
(Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31ST DECEMBER 2024
12
RESTRICTED AND ENDOWED FUNDS
Balance at
1st January Incoming Outgoing
2024
Funds
Funds
As restated
Balance at
31st
Do¢ember
2024
Transfers
Restricted
Loan funds lal
Associatior¢ fund (bl
265,765
45,909
311,674
1265.765)
265,765
10.834
10,834
322.508
322,508
Endowed
Castle Gresley Chapel Trust Ic I
Capital project fijnd Id)
28,000
734,682
28,000
318,007
10.111
1426.786
762,682
10,111
426,7861
346.007
1.074.356
20,945
(426,786
668.515
Restricted
lal Association Loan Fund and Emmanuel Trust Loan Fund
Both the Association Loan Fund and the Emmanuel Trust Loan Fund have been used to make
low interest loans to churches usually up to £30,000 esn be borrowed repayable over 10 years at
half the Base Rate, bul variable up to a maximum of 50/0. These loans are no longer offera.
A resolution was passed that states there is no formal evidence of the loan fund being restricted
or that the capital sums were over £10,000, il was resolved lo close this fund and add the fijnds
lo the old nanEd capital projects fund that was renamed the Association fund in 2014.
The Charity Commission are to be approached for their agreement to release the funds to general
funds.
Ibl Net interest earned on Association Fund, is available for use by the Trust Company.
Endowments
Icl Castle Gresley Chapel Trust
The pro¢eeds from the sale of Castle Gresley Chapel are available for the purchase, extension
of churGh propety or repayment of church property loans. In¢om& arising frorn the fund is
aV8il2ble to make gifts and loans for the benefi't of churches as the Iruslees may decide.
Idl Capital Project Fund
Consolidation of funds from the sale of closed churches under a Charity Commission Scherne
dated 19th January 2004. The Charity Commission has now agreed to this fvnd being used for
all purposes that advance the work of the East Midland Association.
Dunng the year a new Manse was purchased using the capital projects fund amounting lo
£426,786. The acquisitlon has discharged the restriction and the asset will be held in unrestricted
funds

EAST MIDLAND BAPTIST TRUST COMPANY LIMITED
(Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31ST DECEMBER 2024
13 RESERVES
2024
Unrestricted Restricted Endowed Total
2023
Total
As at 1 st January 2024
88,010
339,674 734,682 1,162,366
1,113,155
Prior year adjustment note 14
128,0001
28,000
As at 1 st January 2024 as restated
88,010
311.674 762,682 1,162,366
1,113,165
Net Movement in fund5 for the year
8,511
10,834
10.111
29,456
49.211
Transfers note 12ldl
426,786
1426,7861
As At 31st December 2024
523,307
322,508 346,007 1.191,822 1.162.386
14. Prior Year Adjustment
Th8 2023 cornparative figure for funds has been adjusted to reinstate the Castle Gresley Chapel Trust
balance as at 31 st December2023 at £28 000, being the capital investment towards a property purchased
in 20D1 with a corresponding reduction in the Association Fund. The reclassification of the freehold
piopety note 7 reslricled fund included ll8,000 relating to the Castle Gresley Chapel Trust which is now
shown separately in note 7.
The 2023 comparative figures for the reslricled income funds and the endowments funds brought forward
have been restated as shown in note 13
This adjustment does not alter the reported net movement in funds for 2023 of £49,211.
14

EAST MIDLAND BAPTIST TRUST COMPANY LIMITED
(Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31ST DECEMBER 2024
15 ALLOCATION OF CHARITY NET ASSETS
The net assets of the Charity are held for the various fund5 as follow5..
Unrestricted Restsicted Endowed
Funds
Funds
Fund$
2024
Total
2023
Total
Tangible fixed assets
Investments
Current assets
Current liabilities
835,03
4,967
277,743
1594,439)
17,000
28,000
880,036
453,250
4,967
4,967
g01,258
1,299,451
1594,4391 1595,302
305,508
318,007
523.307
322,508
346,007
1.191,822
1,182,366
16
RELATED PARTIES
The charitsble company is a wholly owned subsidiary of the East Midland Baptist Assoelatson Ltd (limited
by guarantee) No. 4302466 incorporated in England & Wales and a registered charity (No. 10944571.
17
CUSTODIAN TRUST FUNDS
The charilahle company holds, as Custodian Trusiee, certain assets being UK listed shares and securities
and cash deposits for or for the benefit of the churches and associated charities within the Association.
The trustees do not have any directly liUe lo these )inds but administers them within the general
fr8mework ofthe Charities Act 2011 and the objectives of the individual churches. The funds are generally
'restricled' as to their use, and the trustees try to ensure that these reslriclions are complied wsth.
Under current legislation the trustees are only required lo give a description of the assets which they hold
in this capacity. The following schedule shows the assets of each custodian fund and how these are held
on behalf of each church or charity. Investments are included at Market Value.
Specific
Aggregated
Investments Investments
2024
Total
2023
Total
Restricted Funds
Cook Memorial Fund
Unrestricted Funds
Derby Osmaston
2,715
2,715
15,288
770
770
770
770
2.715