Pagè-1 BROADMEAD CHAPEL TRUST ACCOUNTS FOR THE YEAR ENDED 21 DECEMBER 2023 Chorify No: 266948 Page-2 BROADMEAD CHAPEL TRUST CONTENTS Pago Annual Report Independent Examlnèrs Report Receipts and PayTh8nts Account Statement of Assets and Liabllllle8 Not85 to iho Accounts P￿é-3 BROADMEAD CHAPEL TRUST ANNUAL RepoRT REFERENCE AND ADMINISTRATIVE INFORMATION R8glst•Nd Charlty Numb•r. 255948 Da8d of Trust: 19 October 1S87 Reglstsred Offlcg., 1 Whipplngton Court BRISTOL BS13HY Tru8t•os: Mr Lars Ola Holmstrom Mr Boons8ng Soh Mr Da￿￿ Bowyen Mrs Fiony Tam Mr Andrew Barday Mr Noah Carey Chai￿an Treasurer Note.. Trustees are appointed for a renewabl8 lenn of flv8 years. Prlnelpal Bankars: Virgin Money Unil 2 Transom Hous8 Victoria Street BRISTOL 8S16AH CCLA One Angel Lane LONDON EC4R 3AB Indepgndont Examlnor. D. C. Cox F.C. Harwood, Lane & Co Units 1 . 4 Crossley Farrn Business Centr8 Swkn Lane Winterboume BRISTOL BS36 1 RH Sollcltor¥: TLT Solialors 1 R8dcliff Slreat BRISTOL Bs99 7JZ Pag8-4 BROADMEAD CHAPEL TRUST ANNUAL REPORT Objectives and A¢tlvltles 8roadme8d Chapel Trust (the Trust) 18 a charfty ragistered ￿th the Charity Cornrnission for England and WaleB under charity number 255948. Th8 a￿.8Ct ol the charity18 to meet the costs ol repalring, malntainlng and insuring the propety of th8 Trust and tho proper costs ol administration and manag8m6nt ol the TnJsl, and. subject lo that, lo contribute to the religious 8nd other Charitab￿ work ol Broadmead Baptlst Church. The mentioned property refèrs to the buildlng at 1 Whippington Court. Bristol th8t houses Broadmead Baptist Church on Its upper floors and shop 8ddre8se5 94 Broadmead and 44154 Union Street, Bri31ol on its ground As th8 PrO￿rtY 18 held and occupied by Bro8dmèad B8Pttst Church (the church), the Trustwork3 cIo8ely with the Gfvurch to cairy out Sts mlssion. The Trust is tasked with t￿￿ responsibility ol repairing and tnaintaining the building fabric, defined as th8 Structure and fixed systems and furnishings of Ihe buildlng. The Trust may ocrasionally, 8nd with the agreement ol the Church, rArry out activiti89 boyond tho68 related lo the buSldlng fabric but whlch contribute to thg ¢hadt8blè wortf of the church. Governanc• The operation of the Tw5118 ouuinéd In a foun(Jlng docurnent knohtrn as tho'1967 ￿he[na,. Its aetEvitles are largely carriad out by the members ol Ihe board, who are the trustees for th& purpose of charity law and a￿ appointed for fxed five ye8r temis. The trustees serve in a volunteer caparity and no remuneration wa8 lo trustees dLtdng the year. Achl&v8m•nts and Perfomiance 2023 saw heavy inv88lm8nt in buildlng improvernents and repair, in paitieul* thè ranovats.on of rooms for children 3 ministry, rafurbishment of the church ffal. FlnancSal R•vl•w The charity generally receives no fundlng other than from its own resources. th8 maln on6 ol which is ground r8nt rE￿1v8b￿ on laThJ in Broadrnead and Lowèr Union Street. This currently amounts to £33.762 per annum, fixed for 33 y$ars untll 2032. In 8ddltlon to funds generalSy Spent ￿ m8intsining, improvirrfJ and insuring the property of thè Trtjst. 8$ dictated by th8 trusts rnis51on, slgniflcant lunds were 3penl on bulldlng improvoments, partkcularfy to rgnovatlon ol children's minislry rooms and th8 church flat. Total expenditure was signifunuy high8r than income in 2023. and w85 subsidised by transfers of funds from thè BroadmeAd Baptist Church tru8t. The total d&fiat was £18.289. Notsble eypen888 Ind￿Je.. utrlding insuranc•- £12,273 Renovation of ¢hifdrens rninlstry rooms- £46,376 Heating sysleffl r8pairs- £4,578 Church flat kltchen renovation- £15,630 No ¢hang8 was made to the Trusfs investments in 2023, and no slgniffcant charoe In ihe value of the investmènts wgs noted. The total valua of the funds available lo th8 Trust at th8 end of 2023 was £33,988. The inve3tments held by the Trust are disclosed on th6 balanee sheet at cost, aEong wlth ass8ts and 118bllltles. The martel v8luo of th• Invostments is estSmated to be t54,112. Plan8 h)r Futur• Porlods In 2024 the Tru8t intends to eontinue the building improvgmenls Including upgradlng the front entranc and e￿￿¢84 system repairs. Therefore, 18rgg èxpendltura and a budget deficit 18 expectgd in 2024. Page-5 ROADMEAD CHAPEL TRUST ANNUAL REPORT Tru5teeg' Respon$lblllty Statement Chorty law requlTes the Trustees to prepare a￿Ou￿r$ for each flnanelal year whlch glve a tr￿e and falr vlew of the state of affalrs of the chathy and of tts Inccrne and oxpèndlture for that perSod. ln prepartng the attached accouttsthe Tnjstees conslderthe charity has.. used accountlng pdkles and then aprAied them con8lstently', madeludgemerts gnd esllmateg that are reasonable and prudent. ¥taled whether appllcable accounllng stsndard¥ ￿ave been follow*d, S￿bjeCt to ary materlal depa￿reS dlsclosed and explanatlons In the accounts.. and has prepared the account$ on the golng ctsncem basls. The Trustees have responslbllty for malntslning proper •¢eountlng records whlch dlsclose reasonaNe accuracy at anyttme the wsttlon of the chathy enable M Io ￿$￿Ie that the flnancl81 siatsments ¢￿PIY the Charttles ACL They also have fesponslbllty for safeguaryllng the assets of 1he chailty and hence for tsklng reasonable steps to prevent and detect fraud and other Irre￿larIt[es. In accordance whh chartty law, 89 the ¢hartty'$ trusteès. wè certify th8t'. So lar as we are aware. 1here 1$ no relevant a¢¢ourrts Infomallon of whlch the chuich's examthers are unaware.. and As Irustees of Ihe church we havelaken all the 5ttp$that we oughtto have taken In ordeilo make Oufselves aware of ary rdevaftt audtt IrftJmwUon to estab115h that ihe chatitys exatrfnefs are aw8re of th8t Informatlon. INDEPENDENT EXAMINERS Lane & ¢0 were r￿pPe￿nted as the church's Independerrt E￿[￿nerS durlng the year 8nd have expressed the1rv￿lI[n9ness to conlnue In that oapacty. Slgned on behalf of theTru8t'. 8oonseng Soh Treasurer Oate.. 19/101202 Page-6 INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE BROADMEAD CHAPEL TRUST I rèport on the accounts of the Tru81 for th8 ￿ar 8ndwJ 31 Decernber 2023, which are set out on pages 7109. Resp8Ctlv• r•spon61bllltles oltru6tsoo and exaffllnets The ch8rity'5 trustee5 818 responsible for the preparatk)n of th6 accounts. Th6 ch8nty's trustee8 conslder that an audit is not requlred lor Ihls y88r lunder section 144121 of the Charitl8s Act 20111 the 2011 Act) and that an indep6ndent oxsmlnation is needed. Hawng 58t1$f￿ myself that the chority is not 8uty.ect tr) audit under company kw and is ellgible for independent examination, it15 my rasponsibllity to.. examin8 th8 accounts under section 145 01 the 2011 Act.. to follow procaduras lald down In the General Directions gwen by th8 Charlty Commission under section 14515llbl of the 2011 Act., and to 8t8ts whathar par￿C￿laT matters have come lo rny 8tt8nlon. Ba81¥ of Ind•p8ndent ?x8mlneYs' report My examination was carried out in accordanrA with the Gèneral D1￿ctIonS given by the Charity Commi8sioner8. An exarnin8tton Inelud&s a review of the acwunting records kept by th8 charity and a COrnP8rfson of accounts presented wth Iho3e ￿0)rds. It also includes consideratlon of any UnUSU81 terms or disclosures in the a¢count5 and saeking explanations from you a$ truste& concerning any 8uch rnatters. The prO￿dureS undertaken do not provide 811 the èvidence that would ba required In an audlt, and consequently no opinion is glven as to whether the accounts preBenl a 'Irua and fair ￿ew, and the report is limited lo th058 matters set out in the next slaternenl. Independgnt examln•rfs 8tst•mont In connedion wlh my 8xamin8tlon. no matter has corne to my attenllttn.. which giv9$ me rea50n8ble c8USa to believe that in any materi81 r8SPeCt thè Mqulremants.. to keep accounting records In acctsrd8nc8 With sectlon 130 of the 2011 Act., aTrJ to prepare accounts which accord writh th& accounting fecords and lo comply with the accounting requirements ol the 2011 Act have not been met; or to which, in my opinion. att8nlion should ba drawn Ill ¢]fder to enable a propgr undefstandlng ol the aeKounts to bè r•8eh8d. I ijp Davld Cox F.C.A. Harwood, Lane & ¢0 Charterod Ac¢ountant8 Unlts 1 - 4 Crossloy Farm Bu$lnes$ Cenlre Swan Lane Wlnterbourn• BRISTOL BS26 1 RH Dat•: 19 Otsn)r.kL 2oL4k Page-7 BROADMEAD CHAPEL TRUST RECEIPTS AND PAYMENT5 ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2023 GENERAL FUND 2023 2022 RECEIPTS oth•r Ineom Ground Rent Int8rest Investment Income Reimbursement of Insuranca Prgmlum iscallaneous Income Income from Church Trust 25.321 33,762 139 2,531 7,006 3.237 72.0(J) Total Recelpts 101,428 43,438 Malntenanc8 S8curity Systams Fire Precautions H88tlng Lift Maintenance includlng Service Agreeman. Plumbing steward5 Flat 8uildlng Day lo Day Ganaral Ranovatlons 1,638 1.329 910 1.068 1.723 226 7,911 1,116 21,597 8,373 62,223 395 3,223 103,662 8,874 In8urance3 12,273 18.032 Independent Examlnerf3 FÉè 420 Professional Fee 3,780 3,0 Total Paym•nts 119,718 30,328 Net recslptsllpaymèntsl lor the year -18,289 13,112 Bank Deposits al 1 J8nu8ry 52,277 39,165 Bank D•po81ts at 31 Decemb8r £33 988 £52 277 Page-8 BROADMEAD CHAPEL TRUST STATEMENT OF ASSETS AND LIABILITIES AS AT 31 DECEMBER 2023 MO SET General Purposes Fund 2023 General Purpos98 Fund 2022 k A¢counts Vlrgin Money Club Charity RO Assc Lloyd8 Bank Treasur&rg Nol Account Lloyds Bank Tr68surers No2 Account COIF Investment Account 18.989 37.798 110 14.369 14,999 £52 277 OTHERA Dabtors Insurances Due Accrued Incorng 3,245 8,440 3,245 £11685 £3,246 Sh at Cost Asset Fun BlackRock BLK Ch8rltles UK Equity Fund A Schrodees SUTL Cazenove Charity Equity Valu8 Fund A 447 1,081 447 1,081 1,528 1,528 Incomo Fun M&G Ch8rifund Income Units 22,486 22,486 £24,014 £24 014 LIABILITIES IndeFendent Examinerfs fee - 2022 - 2023 432 462 432 £894 £432 Pago-g BROADMEAD CHAPEL TRUST NOTES TO THE ACCOUNTS FOR THE YeAR eNDED 31 OECEMBER 2023 ACCOUNTING POLICIES Ba$16 01 prnparatlon of a¢counts Thè accounts ha￿ bèsn prèpared und$r tha h18th￿Cal rnnvention wlh items recognised at cost or transaction volue unlesG Otherwise stated in the relevant note Isl to these aC￿Unt8. The financial statements hav8 b88n prepared in accordan￿ with the Statement of Recommended Practice.. Accounting and Reporting by Charities prepadng their accounts in accordance with the Financiol Reporting Standard applicable in the UK and Rthpubllc ol Iroland IFRS 1021 issuad on 16 July 2014 and the Financial Reporting standard applicable in the United Kingdom and Republic ol Ireland IFRS 1021 and the Broadmead Chapel Trust meets tme dofinltlon of a publlc benefit entlty undér FRS102. A8sets and liabilities are initially recognised al historical co3t or Iransaction value unless othe￿ise stated in the relevant accounting polloy notes. CURRENT ASSET INVESTMENTS Th8 Investmants held by thè Chadty ara dlsclosed In tha Statement olAsset$ and Li8blllli98 al cost. At 31 Decernber 2023 the rnarket value ol all the investments held was £54.112. TRU8TEE8 REMUNERATION There was no remuneration paid to the Trustees during the year.