Charlty reglstration numbor NIC107391 WINDSOR BAPTIST CHURCH ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
WINDSOR BAPTIST CHURCH LEGAL AND ADMINISTRATIVE INFORMATION Trustees Mr Gordon Darragh Mr David Dunlop Mr Mark Houston Mr Nigel Younge Mr Sale Ogbobl Mr Brian Johnston Mr Richard GreenWd Mr Paul Johnston Mr Tlmothy Warke Mr Steven Alexander Mrs Heather Johnston Mr James M¢Conk8y Mlss Nlcola Brown Mrs Janet Darragh Mrs Karen Mercer Mr Stephen Moore Mrs Sharon Parker Mrs Gerlinde Scott Mr Andrew McDowell Mrs Jenny Harron Mr Mike Griffith Mr Paul Harron Mr Sotonye Frank Mrs Marcy Gboloo-Teye Mr Ralph Barron Mrs Glft Solonye-Frank Mrs Catherinè Hall Miss Lynsey Jess Mlss Naomi Jones Miss Heather Law Mr Mark Spenc8 (Appointed 15 November 2023) (Appointed 15 Novembar 2023) (Appointed 15 November 2023) (Appointed 15 November 2023) (Appointed 15 Novernbgr 2023) (Appointed 15 November 2023) (Appointed 15 November 2023) Charlty numbor NIC107391 RogISter offlce The Majestic 208-212 Lisburn Road Belfast BT9 6GD Auditor Harblnson Mulholland Centropoint 24 Omieau Avenue Belfast Co. Antrim Northern Ireland BT2 8HS
WINDSOR BAPTIST CHURCH LEGAL AND ADMINISTRATIVE INFORMATION Bankers Danske Bank Donegall Square West Belfast Co. Antrim Northem Ireland BT16JS AIB 78 W8111ngton Street 8allymena Co. Antrim BT43 6AF
WINDSOR BAPTIST CHURCH CONTENTS Pago Trusteès. report Independènt audltorts report ststement of flnanclal actfvitles Statement of flnanclal position ststgment of cash flows Notes to the financlal statements 10-18
WINDSOR BAPTIST CHURCH TRUSTEES, REPORT FOR THE YEAR ENDED 31 DECEMBER 2023 The trustees present their annual report and financial statements for thè year ended 31 December 2023. The financial statements have been preparèd in accordance with the accounting policies set out In note 1 to the financlal slalements and comply with the Charity's governing document, the Charities Act 2008 and 'Accounting and Reporting by Charltles.. Statement of Recommended Practi applicable to charilies preparing their accounts in accordance wlth the Financial Reportlng Standard applicable in thè UK and Republic of Ireland IFRS 102) (effective 1 January 2019)" ObJe¢tlvo$ and activltlos Windsor Bapt15t Church is a local church and communlty of people who seek to love and worshSp God,. follow Jesus & love to serve our neighbour. Our vislon 'to be a church without walls, Includes the deslred Intenilon to be a place of BELONGING. MULTIPLYING,. SERVING & GOING We alm to be a church where.. we welcorne everyone and anyone. and encourage them to belong to God and to each othèr we grow as more peopl8 choose to love God, follow Jesus and join the Church we equip and empower people to serve (within our family and beyond) we encourage people to go and be Christ's wltnesse5 where they Ilve, study, work and to the ends of the earth Thé trustees have paid due regard to guidance issued by the Charlly Commlsslon In d8clding wh8t actlvlties the Charity should undertake. Achlevements and pèrfomiance The net gain for the year amounted to 44,750 {2022: £560,517), of which a deflcil of £29,513 Is attributable to unrestrlcted reserve5 which now sland al £2,985,804 12022.. £3,015,317) and a net surplus of £74,263 is attributable to restricted reserves which now total £476.450. 2023 has been anothèr busy year for the church. Attendance is encouraging with over 400 on Sunday mornings and approximaiely 150 on Sunday evenings. The Sunday morning service is streamed live and has approximately 60 online attendees Wlth a further 200+ vlews on demand on any given week. The evening attendance was boosted to approximately 250 for four evenings in the autumn for a dlscipleship programme called Equip. There were four different streams available for attendees lo choose from. There are activities for youth and children, however while the number of chlldren has increased, therè has been a decrease in youth attendance. Among the busy mldweek programme of activities, some are specifically aimed at Internationals, whether they are studying, working or Seeking asylum in N. Ireland. Over 30 nations are represented. between midweek and Sunday activities. A new member of staff was w81comed in April as a Communlty Worker, with Inltlal focus on the internatlonal community. Opportunity was glven for the Youth and Senior Pastors to take Ihree-month sabbaticals (although not at the same timel. A Youth Volunteer is assisting and learning from the Youth paslor during the academic year 20231 24. To asslst in the pastoral care of such a large congregation the pastoral care team has been expanded to 14 volunteering alongside the elders. The final payment to the bullder for Ihe Majestic development project was m8de after an item of remedial work over the summer. Unfortunately, there is still one remaining issue. outsid8 the buSSder's contrad. of sound crossover in the building, whi¢h is baing Invesligated by the architect. Thanks to the ongoing generosity of members and friends a lump sum has been paid off against the loan. It is hoped to continue to repeat this as and when funds becDme available. As can be seen for the attached financial details we have much to thank God for. Structure, governance and management
WINDSOR BAPTIST CHURCH TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 The trustees who served during the year and up to the date of signature of the financial statements were.. Mr Gordon Darragh Mr David Dunlop Mr Mark Houston Mr Nigel Younge Mr Sale Ogbobi Mr Brian Johnston Mr Rlchard Greenwood Mr Paul Johnston Mr David Fleming Mr Brian Allen Mr Colln Johnston Mr Timothy Warke Mr Steven Alexander Mr Andrew Dempster Mr Daniel Gt4)loo-Teye Mrs Alison Johnston Mrs Mary Obgobi Mrs Yolanda Thompson Mrs H8ather Johnston Mr James Mcconkay Miss Nicola Brown Mrs Janet Darragh Mrs Karen Mercer Mr Stephen M¢)ore Mrs Sharon Parker Mrs Gedlnde Scott MrAndrew McDowell Mrs Jenny Harron Mr Mike Griffith Mr Paul Harron Mr Sotonye Frank Mrs Mercy GboloTeye Mr Ralph Barron Mrs Gift Solonye-Frank Mrs Catherine Hall Miss Lynsey Jess Miss Naoml Jones Miss Heather Law Mr Mark Spence (Resigned 15 November 2023) (Resigned 15 November 2023) IRe$lgn8d 15 November 2023) IResign8d 15 November 2023) (Resigned 15 November 2023) (Resigned 15 November 2023) (Resigned 15 November 2023) (Resigned 15 November 2023) (Appointed 15 November 2023) (Appointed 15 November 2023) (Appointed 15 November 2023) (Appointed 15 November 2023) (Appolnted 15 November 2023) (Appointed 15 November 2023) (Appointed 15 November 2023) Publlc Benefit The Trustees believe that the public benefits from its Sunday services and weekly activities in the education on how to seNe and glorify G¢>J and thereby serving their neighbour well. The community facllitles offered through the use of the church bulldlng are also beneficial to the public.
WINDSOR BAPTIST CHURCH TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Statsment of trustees. responsibllltles The trustees are requlred to prepare the Annual Report and financial statements for each financial year, which give a true and fair vtew of the state of the affalrs and of the surplus or deficit of the Church for that year and have been prepared in accordance with United Kingdom Generally Accepled Accounting Pracli¢e. In preparing Ihese the trustees are requlrad to.. _ select sultable accountlng policies and apply them consistently; make judgements and estimates that are reasonable and prudent: prepare th8 financial statement5 on the going conrn basls unle$$ it Is inapproprFate to presume that the Church wlll continue In busln8SS. The trustees a re8ponsible for keeplng proper 8¢¢ounting records, whlch dlsclose Wbth rea3on8ble 8ccAJracy at any tlme the financial posStlon of the Church. They are also responslble for safeguardlng the a98ets of the Church and hence for taklng reasonable steps for the prevention and detection of fraud and other Irregularllles. The trustees, report was approved by the Board of Trustees. Mr David Dunlop Trustaa Date..
WINDSOR BAPTIST CHURCH INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF WINDSOR BAPTIST CHURCH Opinion We have audited th8 financial statements of Windsor Baptist Church (the 'Charity'l for the year ended 31 Dember 2023 which comprise the statement of financial adivities. the statement of financial position, the statement of cash flows and notes to the financial ststements. including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standard5, including Financial Reporting Standard 102 The Financi81 Reporting Standard 8pplic8bl8 in the UK and Republlc of Ireland (United Kingdom Generally Accepted Accountlng Practice). In our oplnion, the financial statements.. give a true and fair view of the state of the charity's affairs as at 31 December 2023 and of its incoming resources and application of resources, for the year then ended., have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice., and have been prepared in accordance with the requirements of the Compani8s Act 2006. Basls for oplnlon We conducted our audlt In accordance with Internatronal Standards on Audltlng (UK) (ISAS IUK}) and appllcab18 law. Our SPOnSibl11t18S under those standards are further described In the Auditors responsibilities for the audit of the financlal statgments seGlion of our r8POrt. We are independent of the Charity In accordance with the ethical quirement5 that are relevanl to our audit of the financial statements In Ihe UK, includlng th8 FRC'S Ethical Standard, and we have fulfilled our other 8thical responsibilities in accordance with these requirements. We believ8 that the audit evldence we hav8 obtained is sufficient and appropriate to provide a basis for our opinion. Concluslons relatlng to golng concern We have nothing to report in respect of the following matters in relation to which the ISAS (UK) require us to report to you were: the trustees, use of the going concern basis of accounting in the preparation of the financi8151at8ments is not appropriate-, or the trusle88 have not disclosed in the flnanclal statements any identified material uncertalntles that May cast significant doubt about the group's or the parent Company's ability to continue to adopt the going concern basis of a¢countlng for a period of Bt least twelve months from the date when the finan¢l81 statements are authorlsed for issue. Other Inforniatlon Th8 Other Infomation comprises the informatlon included in the Trustee5' Report, other than the financial statements and our auditor's report thereon. The trustee5 are responsibl8 for the other informatlon. Our oplnlon on the financial statements does not cover the other Information and, except to the extent otherwise explicitly slated in our report, we do not express any fomi of assurance conclusion thereon. In connection wlth our audit of the financial statemonts, our responsibility is to re8d the other information and, in doing so, consider whether the other information Is materlally inconsist6nt with the financial statements or our knowledge obtsined in the audit or olherwise appears to be materlally misstated. If we identify such malerial inconsistencies or apparenl material misstatements, we are required to determine whéther there is a m81erial misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have perfomied. we conclude that thara is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. Matters on whlch we are required to report by èxception We have nothing lo report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 require us to report to you if. in our opinion.. adequate accounting records have not been k8Pt or retums adequate for our audit have not been received from branches not visited by us., or the financial slatemenls are not in agreement with the accounting records and returns.. or we have not received all the information and explanations we require for our audit.
WINDSOR BAPTIST CHURCH INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF WINDSOR BAPTIST CHURCH Responsibllltles of trustees As explained more fully in the ststement of trustees, responsibilitiés, the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair vlew, and for such internal control as the trustees detemiine is neSSary to enable the preparation of financial statements that are free from material misststemènt, whether due to fraud or error. In preparlng the financial statements, the trustees are responsible for assèssing the Charity's ability to contlnue as a going concern, disclosing, as applicable, matters related to going concern and using the going concem basis of accounting unless the trustees either intend to cease operations, or have no realistic allemative but to do so. Audltorfs responslbllltl8s for the audlt of the financial statements Our objectives are to obtain reasonable assurance about whether the financlal statements as a whole are free from malerial misstatement. whether due to fraud or error, and to issue an auditorfs report that includes our opinion, Reasonable assurance is a high level of assurance bul Is not a guarantee that an audit conducted in accordance with ISAS (UK) will always detect a materlal mlsslatement when 11 exlsls. Mlsstatements can arlse from fraud or error and are considered material if, individually or In the aggregate, they could reasonably be expected to Influenc8 the economic decisions of users taken on the basls of these financlal ststements. A further descrlption of our responsibllllles Is avallable on the Financial Reporting Council's website at.. https'.11 www.frc.org.ukJauditorsresponsibllilies. This description form5 part of our auditorfs report. Our approach to identifying and assessing the risks of materlal misstatement in respect of irregularitles. including fraud and non-compliance with laws and regulations, was as follows.. the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations; we identified the laws and regulallons applicable to the company through discussions with trustees andlor senior management. and from our commercial knowledge and experience of the sector; We focused on specific laws and regulations whlch we considered may have a direct matèrial effect on the financial ststements or the operations of the company, Including Companles Act 2006, taxation legislation, data protection, anli-bribery, employment, environmental and health and safely lèglslation we assessed the exient of compliance with the laws and regulations identified above through maklng enquiries of management and inspecting legal correspondence,. and identified laws and regulations were communicated withln the audit team regulady and the team remained alert to inslan¢es of non-compliance throughout the audit. We assessed the susceptibility of the company's financlal statements to mat8rlal misstatement, in¢ludlng obtalnlng an understanding of how fraud might occur, by: making enquiries of management as lo where they ¢onsldered there was sus¢eplibility to fraud, their knowledge of actual, suspected and alleged fraud,. and ¢onsidering the internal controls in place lo miligale risks of fraud and nonwcompliance wlth laws and regulations., To address the risk of fraud through management bias and override of Controls. we: performed analyllcal procedures to identlfy any unusual or unexpectsd relationships., tested joumal entries to identify unusual transactions., assessed whether judgements and assumptions made in detemiining th8 accounting estimates set out in Note 2 were indicative of potential bias,. and investigated the rationale behind significant or unusual transactions., In response to the risk of irregularities and non-wmpliance with laws and regulatlons, we designed procedures which includ8d, but were not limited to: agreeing financial statement disclosures to underlying supporting documentation-, reading the minules of meetings of those charged with governance., enquiring of management as to actual and potential litigation and claims., and revlewing correspondence with HMRC and the company's legal advisors.,
WINDSOR BAPTIST CHURCH INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF WINDSOR BAPTIST CHURCH There are Inherent limitations in our audlt prOdureS described above. The more removed that laws and regulations are from financlal transactions, the less likely is that we would become aware of non-compliance. Auditing standards also limit the audit procèdures required to identify non-compliance with laws and regulations to 6nqulry of the trustees and other management and the inspecilon of regulatory and legal correspondence, if any. Material misstatements that arise due to fraud can be harder to detèct than those thal arise from Srror as they may involve deliberate concealmént or collusion. Angola Cralgan (Senlor Statutory Audltor) for and on behalf of Harblnson Mulholland Chartornd Accountant• Statutory Audltor Centrepoint 24 Omieau Avenue Belfast Co. Antrim Northem Ireland BT2 8HS 191C612024 Harbinson Mulholland Is eligible for appolntment as auditor of the Charlty by virtue of its eliglbilily for appolntment as audltor of a company under section 1212 of the CompaniesAct 2006.
WINDSOR BAPTIST CHURCH STATEMENT OF FINANCIALACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2023 Unrestricted Restricted funds funds 2023 2023 Total Unrestricted Restrlcted funds funds 2022 2022 Total 2023 2022 Note$ Incoma and endowments from: Donations and legacies Charltable activities Investments Other Incom8 550,095 5.815 502 146,088 2,200 696,183 8,015 502 469,944 8,221 637 539,761 182.458 2.200 652,402 10.421 637 539,761 Total Incomo 556,412 148,288 704,700 1,018,563 184,658 1,203,221 Charitable activities 566,036 93,914 659,950 546,771 95,933 642,704 N8t Incom•l(expendlture) 19,624) 54,374 44,750 471,792 88,725 560,517 Transfers be88n funds (19,889) 19,889 Ngt mov8ment In funds (29,5131 74,263 44,750 471,792 88,725 560,517 Raconclllatlon of funds: Fund balances at l January 2023 3,015,317 402,187 3,417,504 2,543,525 313,462 2,856,987 Fund balances at 31 Daeémbèr 2023 2,985,804 476,450 3,462,254 3,015,317 402,187 3,417.504 The statement of financlal 8Ctivities indudes all galns and losses rOgnIsed In th8 year. All income and expenditure d8rlv8 from conllnuing a¢tivlties.
WINDSOR BAPTIST CHURCH STATEMENT OF FINANCIAL POSITION AS AT31 DECEMBER 2023 2023 2022 Notes Flxed assets Tangible as$8ts 11 4,745,461 4.842,383 Current assets Debtors Cash at bank and In hand 12 19.911 154.844 21.156 230,489 174,755 251,645 Crodltor8: amounts falllng duo wlthln one year 14 507.844 818.608 Net current Ilabllltlés (333.089) (384.963) Total assets l•$• curront Ilabllltle8 4,412,372 4,477.400 Credltorn: amounts falling due aftor moro than one yoar 15 (950,118> (1,059.896) Ngt a88ets 3,462,254 3,417,504 The funds of th8 Charlty Restrlcted income funds Unrestricted funds 16 476,450 2.985.804 402,187 3,015,317 3,462,254 3.417,504 The financial statements were approved by the trustees on ... . Mr Davld C¥Jnlop Trustee Mr Nigel Younge Tnmt¢¢
WINDSOR BAPTIST CHURCH STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2023 2023 2022 Nots8 Cash flows from operatlng actlvltles Cash generateAI from operations 19 69,548 143.936 Investlng activltla$ Purchase of tangible fixed assets Proceeds from disposal of tangible flx8d assets Investment Income received 125,917) (15,5201 1,372,761 637 502 Net cash (used In)Ig•neratsd from Investlng actlvltles (25,415) 1,357,878 Flnanclng acllvltle8 Repayment of borrowings Repayment of bank loans 110,0001 (109,778) (81,000) (1.486.101) Net cash u8ed In flnanclng actlvftlas (119,778) 11,567,101) Not decrea88 In ca8h and cash oqulvalents (75,645) 165,2871 Cash and cash equivalènts at beginning of year 230,489 295,776 Cash and ca8h equlvalonts at ènd of year 154,844 230.489
WINDSOR BAPTIST CHURCH NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Accountlng policies Charlty Informatlon Windsor Baplist Church is a réglstered charity in Northem Ireland. The reglstered office is The Majestic, 208- 212 Lisburn Road, Belfast. Co. Anlrim, BT9 6GD. 1.1 Accountlng convention The financial statements have been prepared in accordance with Ihe "Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing thelr accounts in accordanc6 with the Financial Rèporting Standard applicable in the UK and Republic of Ireland IFRS 102)" as amended for accountlng period commencing from 1 January 2016. The charity is a Publ1¢ Beneflt Entlty as defined by FRS 102. Th8 financlal statements are prepared In startlng, which is the functional currency of the Charty. Monetary amounts in these financlal statements are rounded to the nearest £. The financial statements have been prepared under the hlstorlcal cost conv8ntlon, modifled to include the revaluation of fr88hold properties and to include inv8Stment properties and certain flnanclal instruments at fair value. The principal accounting policies adopted are set out below. 1.2 Golng concern At the time of approving the financial slatements, the trustees hav8 a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statemenls. 1.3 Charltable funds unstrICted funds are available for use 8t the discretion of the trustees In furtherance of their charitable obleclives. Restricted funds are subject lo specific conditions by donors or grantors as lo how they may be used. Th8 purpose5 and uses of the restricted funds are set out in the notes to the financial slatements. Investffl8nt in¢om8 Is allocaled lo the appropriate fund. 1.4 Income Income is recognised when the Charity I318gally entitled to it after any performance conditions have be8n met, the amounts Can be measured reliably, and it is probable that Income wlll be received, Donations, are recognlsed when Ihe Trustee has been notlfled In wrltlng of both the amount and settlement date. In the event that a donation is Subject to con(Jltions that require a level of performance before the charity is entitled to the fund5, the income is deferred and not recognised unlil either those conditions are fully met, or the fulfilment of those condltlons is wholly within the control of the charity and it is probable that those condilions wlll be fulfilled in the reporting parfod. 1.5 Expondlture Liabilities are recognis8d as expenditure a5 soon as there is a legal or conslructive obllgation committing the charity to that expenditure, it is probable that settlement will be required and the amount of the obligation can be measured reliably. All expenditure is accounted for on an accruals basls. All expenses including unrestricted costs and restrioted costs are allocated or apportion8d to Ihe applicable expenditure headings. 10-
WINDSOR BAPTIST CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Accounting pollcies (Contlnued) 1.6 Tangible fixed assets At each balance sheet date, the carylng amount of tangible assets are reviewed to determlne whether there is an indication that those assets have suffered an impairment loss. Where the carrying value exceeds the estimated recoverable amount (ing the greater of fair value less costs to sell and value-in-use), an impairment loss is recognised by writing down the assets, cash-generating unites to their recoverable amount. An impaimient loss is recognised immediately In the Statement of Financial Activities. Any reversal of a previous impaimient loss is slmilarly recognised Immediately in the Statement of Financial Activities. Buildings Fixtures and flttlngs 2% straight line 20% Straight line 1.7 Impalrment of flxod assets At each r8POrting end date. the Charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exlsls, the recoverable amount of the asset is estimated in order to detemine the extent of the impairment loss Ilf any). 1.8 Cash and cash equivalents Cash and cash equivalents include cash in hand, deposlts held at call wlth banks, other short-term liquid investments with original maturities of thre8 months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. 1.9 Flnanclal Instrumonls The Charity has elected to apply the provlsions of Section 11 'Basic Financial Instruments, and Section 12 'Other Financial Instruments Issues, of FRS 102 to all of its financial instruments. Financial instruments are recognised in the Charlty's balance sheet when the Charity becomes party to the contractual provisions of the instrument. Financial assets and liabllities are offsèt, wlth the net amounts presénted in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intsntion to settle on a net basis or to realise the asset and settle the liabilty simultaneously. Baslc flnaneial assets Basic financial assets, which indude débtors and cash and bank balances, are initially measured at transacllon price including transaction costs and are subsequenlly carried at amortlsed cost using the effective interest method unless the arrangement conslilules a financing transaction, where the transaction is measured at the present value of the future receipts dlscounted at a market rate of interesl. Financial assets classified as receivable within one year are not amortised. Basic flnanclal Ilabllltles Basic financial liabilities. includlng creditors and bank loans are inilially recognised at transaction pri unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Flnancial liabilities classified as payable withln one year are nol amortised. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade creditors are obligations to pay for goods or Services that have been acquired In the ordinary course of operations from suppliers. Amounts payable are classified as current liabillties if payfflent 15 due within one year or less. If not, they are presented as non-current liablllties. Trade credrtors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. 11
WINDSOR BAPTIST CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Accounting policies (Continued Derecognition of financial Ilabllltles Financial liabilities are derecognised when thè Charity's contractual obligations expire or are discharged or Canlled. 1.10 Employee bènoflts The cost of any unused holiday entitlement is recognlsed in the period in which the Èmployee's services are received, Terfflination benefits are recognlsed immedlalely as an expense when the Charity is demonstrably committed to temilnate the employrnent of an employee or to provide temiination benefits. 1.11 Retlremont bon¢flts Employees of the charity are entitled to join a defined contrlbution scheme. Contributions to d8fined contrlbution pension arrangements ar8 charged to the Statement of Financlal Actlvities as they fall due. The charlty has no liability beyond making Its contributions and paylng across the deduclions for employee's contrfbutions. Crltlcal aecountlng estimates and judgemonts In the application of the Charity's accounting policies, the trustee5 arè requlred to make judgements, estimates and assumptions about the carrying amount of assets and liabilitles that are not raadily apparent from other SoUes. Tha estimates and associated assumptions are based on hlstorical experlen¢e and other factors that are consid8red to be relevant. Actual results may differ from these estlmates. The estimales and underlying assumptions are reviewed on an ongoing basls. Revisions to accounting estimates are recognised in tha period in whlch the estimate is revised wherè thè revision affects only that period, or in the porlod of the revlsion and future periods where tha revision affects both currènt and future periods. Key lourcas of èstimatlon uncertalnty Useful Llves of Tanglblo and Intanglble Flxad Assets The annual depreciation charge depénds primarily on the estlmated IIv8s of each type of asset and, In certain ¢lrcumstances, estlmates of residual values. The trustees regulady r8vlew thése uséful lives and change them if necessary to reflect currenl conditions. In determining thesè useful Ilves management consider technologScal change, patterns of consumption, physical condltion and expected economic utilisatlon of the assets. Chang8s In the useful lives can have a significant impact on the deprecialion charge for the financial year. The net book value of Tangible Fixed Assets sublect to depre¢ialion at the tlnancial year end date was £4,745,461 {2022.' £4,842,363). 12-
WINDSOR BAPTIST CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Donatlons and legacies Unrestrlctod Restrlctsd funds funds Tolal Unrestricted funds Restricted funds Total 2023 2023 2023 2022 2022 2022 Donations and glfts 550.095 146,088 696,183 469,944 182,458 652,402 Donatlons and glfts Gift aid income Sunday offerings Other non-glft aid incom8 Glft aid recov8r8d 374,172 9,178 70.831 95,914 91,170 480 30,663 23,775 465.342 9,658 101,494 119,689 308,184 7,059 79.059 75,642 122,165 2,856 27,805 29,632 430,349 9,915 106,864 105,274 550,095 146,088 696,183 469.944 182,458 652,402 Income from charltablo actlvltles Unrestrlctgd Re8trlctad funds funds 2023 2023 Total Unro8trlctod Ré8trlcted funds fund8 2022 2022 Total 2023 2022 Charftabl• actlvltl08 Lettlng hlre Grant income 5,815 5,815 2,200 8,221 8,221 2,200 2,200 2,200 5,815 2.200 8,015 8,221 2,200 10,421 Performance related grants anatysls Charltable actlvltles 2023 Charltabl• actlvlties 2022 Educatlon Authority Other 2,200 2,200 13-
WINDSOR BAPTIST CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Income from investments Unrestricted Unrastrlcted funds funds 2023 2022 Interest re¢eivab18 502 637 Oth•r In¢om• Unrestrlcted Unrestrlcted funds funds 2023 2022 Net gain on disposal of tanglble flx8d assets 539,761 Charltable activltles 2023 2022 Staff costs Depreclatlon and Imp8irnent Other staff costs Association costs Mlsslonary costs Minlstry costs Bank fees and interest Dèvéloprnent costs Property costs 217,633 122,818 4,957 22,568 104,781 70,865 71,336 720 44,272 189,998 121,281 4,484 21,020 97,368 82,570 83,106 120 42,757 859,950 642,704 659,950 642,704 Analysis by fund Unrestricted funds Restrided funds 566,036 93,914 546,771 95.933 659,950 642.704 14-
WINDSOR BAPTIST CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Trustees Trustees received a remuneratlon for their services as pastors, totalling £149,457 (2022: £141,536) during the financial year. Employeès The average monthly number of employees during the year was: 2023 Numb•r 2022 Numbor Employment cost8 2023 2022 Wages and 8alarie8 Social securtty costs Other pension costs 183,335 13,098 21,200 159,585 11,631 18,782 217,633 189,998 10 Taxatlon The charity Is exempt from taxation on Its activities because all Its Income Is applied for charltable purposes. 11 Tanglbla flxed a88ets Bulldlngs Flxtur•s and fftllngs Total Cost At 1 January 2023 Addltions 4,883,890 15,302 138,211 5,022.101 10,615 25,917 At 31 Dec8mber 2023 4,899,192 148,826 5.048,018 Depreclallon and Impalrment At 1 January 2023 Depreciation charged in the year 117,778 97,678 61,960 25,140 179,738 122,818 At 31 December 2023 215,456 87,100 302,556 Carrying amount At 31 December2023 4,683.736 61,725 4,745,461 At 31 December 2022 4,766,112 76,251 4,842.363 15-
WINDSOR BAPTIST CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 12 Debtors 2023 2022 Amounts falllng due wlthln one year. Other d8btors Prepayments and accrued incorne 12,560 7,334 18,863 2,293 19,894 21,156 13 Loans and overdraft8 2023 2022 Bank loans Other loans 1,282,171 165,000 1,391,949 165,000 1,437,171 1.556,949 Payable within one year Payable after one year 487,053 950.118 497,053 1,059,896 The long-term loans ar8 secured by guarantee provlded by Northern Baptist Corporatlon Limlled. 14 Crndltors: amounts falllng due wlthin one year 2023 2022 Not•8 Bank loans Other borrowings Trade creditors Sundry credliors Other creditors Accruals and deferred incom8 13 332,053 155.c0 13,542 279 329 6,641 332,053 165,000 17,610 94,492 701 6,752 507,844 616,608 15 Crèdltors: amounts falllng due aftor more than one year 2023 2022 Notès Bank loans 13 950,118 1.059,896 16-
WINDSOR BAPTIST CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 16 Restrlcted funds Movement In funds Income Expendlturo Balancè at 1 January 2023 Translews Balanc• at 31 Decomb•r 2023 Development fund Grant fund Specific purpose glfts 395.832 1,010 5,345 138,199 2,2iXJ 7.889 (85,904) (450) 17,5601 20,324 (435) 468,451 2,325 5.674 402,187 148,288 193,914) 19,889 476,450 Restrlcted funds are funds recelved for specified purposes withln the overall aim8 of the charlty. 17 Unrnstrlctod funds The unrestricted funds of the charlty comprise the unexpended balances of donatlons and grants whlch are not subject to specific conditions by donors arKI grantors as to how they may be used. Thes8 Include designated funds whlch have been set aslde out of unrestrict8d funds by the trustees for specrfic purposes. At 1 January 2023 In¢omlng resources Resources oxpendèd Transfors At31 December 2023 General funds 3,015,317 556,412 (566,036) 119,889) 2,985,804 Prevlous year: At 1 January 2022 Incomlng rosourc08 Resources expended Transf•rs At31 Déc•mb•r 2022 General funds 2,543,525 1,018,563 (546,771) 3,015.317 18 Analys1$ of n•t as8Ots between fund$ Unrostrlcted R•5trlcted funds funds 2023 2023 Total Total 2023 2022 Fund balances at 31 December 2023 are represented by.. Tangible ass81s Current assetsllliabilities) Long term liabiliti6s 4,745,461 (809,539) (950,118) 4,745.461 4,842,363 1333,089) 1364.9631 (950,118) (1,059,896) 476,450 2,985,804 476,450 3,462,254 3,417,504 17-
WINDSOR BAPTIST CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 19 Cash gonarated from operations 2023 2022 Surplus for the year 44,750 560,517 Adjustments for.. Investment incomè rÉcognised in statement of financial activltles Gain on dlsposal of tangible fixed assets Depreclation and impalrment of tangible fixed assets (502> {637) 1539.761) 121,281 122,818 Movements In worklng ¢apltal'. Decr8as81(Increase) in debtors (Decreaseifincrease In credltors 1,246 (98,764) (7.825) 10,361 Cash gen8ratad from operatlon8 69,548 143,936 20 Analy818 of chang88 In net (dobtllfunds At 1 January 2023 Ca•h flows At 31 D•cernb•r 2023 Cash at bank and in hand 230,489 (75,645) 154,844 Loans falllng due within one year Loans falling due after more than one year {497,053) (1,059,896) 10,000 109,778 1487,053) (950,1181 (1,326,460) 44.133 (1,282,327) 18-