RATHFRILAND BAPTIST CHURCH Trustees Annual Report and Financial Statements for the year ended 30th September 2024 Registered with the Charity Commission for Northern Ireland NIC107417
RATHFRILAND BAPTIST TRUSTEES ANNUAL REPORT The Trustees present theirAnnual Report of the charity for the year ended 30 September 2024. PURPOSE The principal purpose of Rathfriland Baptist Church is the advancement of the Christian faith according to Biblica I principles. ACHIEVEMENTS AND PERFORMANCE The Trustees have had regard to the Charity Commission for Northern Ireland's guidance on provision of public benefit and are confident that the Church fully satisfied this requirement throu8hout 2024 through its activities. Sunday services and the mid-week Bible Study are Iwestreamed viathe Churches U Tube Channel, These services are freely available on an ongoing basis on this Channel. Services are also uploaded onto SermonAudio website where they may be also freely accessed on an ongoing basis. Drive-in Gospel services were again conducted in the carpark of Rathfriland Farmers Coop, kindly granted, as a gospel outreach on Sunday afternoon from June to the middle of September. Youth fellowship (CAST) meetings are held on alternate Sunday evenings, after the evening service, during October to April. CAST also organised a number of social events throughout the year. Our Ladies Fellowship meeting also continued on the l Monday of each month during the period September to May. In addition to the usual monthly activities during 2024, the annual soccer club was held over the course of 4 evenings in early June as a special outreach, with over 100 boys and girls attending. The annual holiday bible club was also held in late Julywith up to 130 children attending. A number of Missionary Societies and Christian organisations attended the Fellowship to provide members the opportunity to receive information on their work. Visitation of the sick, consolation and 5UPPOrt of members suffering bereavement continued in 2024 as the Pastor and the Assistant Pastor, together with others from within the Fellowship, sought to provide comfort and support for those affected. A new church complex was completed in August 2023, work having commenced in March 2022. The first service wa5 held in the new building on the 30 August of 2023, with Sunday services commencing mid-september and the official opening following in October 2023. The Trustees wish to record they're thanks to Walter Graham for his efforts and faithfulness in undertaking the construction of the new church complex.
RATHFRILAND BAPTIST REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISORS Charity name: Rathfriland Baptist Church Address.. Loughbrickland Road, Rathfriland. BT34 5PZ. Email: ian rathfrilandba tist.com Website: www.rathfrilandba tist.com
RATHFRILAND BAPTIST TRUSTEES The Charity Trustees are the members of the Church Oversight Committee which consists of Pastor, Elders and Deacons. All male members of the Church are eligible to stand for election as a deacon unle55 disqualified by Statute from holding office as a trustee. Elections to the Office of Deacon are conducted at the Annual Members Meeting. Attendance at the Annual Church Meeting is open to all church members. The Church's Constitution requires a two thirds majority of those voting for the appointment of Pastors or Elder5. Elders are elected for life unless they choose to retire or leave the Fellowship. Pastors serve for the period of their pastorate. INDUCTION AND TRAINING OF TRUSTEES Following appointment each newly appointed Trustee receives an Induction Pack containing copies of Charity Commission for Northern Ireland publications.. Running Your Charity. Trustees are also encouraged to access further information available on the Charity Commission for Northern Ireland website. The Trustees in office at 30January 2024 and the date of signing this report were: I Wilson Pastor G Ander50n J Henry R Stewart G Mccrum J Boyd l Mcconnell E McAuley K McKinstry L McKinstry M Scott Church Secretary Church Treasurer Child Safeguarding Officer Youth Coordinator PAYMENTS TO TRUSTEES No Trustee received payment for undertaking trustee duties. Payments to the Pastor relate to expense5 incurred in the performance of the duties of pastor. Where Trustees purchase items on behalf of the Charity these costs may be reimbursed.
RATHFRILAND BAPTIST ADVISORS Bankers: Danske Bank, High Street, Portadown, BT62 ILB. Accountants.. WHR Accountants Ltd, 56 Upper English St, Armagh, BT617LG. Insurance Adviser: Kingdom Bank, Media House, Padge Rd, Beeston, HG9 Solicitors: Bell Gordon & Son, 9 Newry St, Rathfriland, BT34 SPY STRUCTURE, GOVERNANCEAND MANAGEMENT Rathfriland Baptist Church is a registered charity. The charity 15 registered in Northern Ireland with the Charity Commission in Northern Ireland with the charity number 107417. It has been registered as a th charity since June 8 2020.
RATHFRILAND BAPTIST TRUSTEES ANNUAL REPORT conyd MANAGEMENT The Trustees continued to meet regularly to discuss the work of the church, and to make decisions concerning the regular activities within the church, and also outreach activities. Matters are reported to Church Members via the Annual Church Members Meeting when the Report and Accounts are also presented. Matters requiring approval of a Church Members Meeting, other than appointment of Elders or Pastors, are decided by majorityvote. In event of a tie the Chairman of the Church Member5 Meeting has a castingvote. Approval at a Church Members Meeting is required forsignificant projects, such as a building program, prior to commencing any major new undertaking. Volunteers continue to play key roles in various Departments of the Church. It is not possible to quantify this support as much is done behind the scenes. However, Rathfriland Baptist Church could not function as it does without their faithful support. RISK MANAGEMENT The Trustees have conducted an assessment of the risks to which the charity is exposed and have reviewed systems and procedures to mitigate such risks. Risk assessment covering fire, health & safety and the protection of children, young people and vulnerable adults is an ongoing proces5 and is reviewed annually or before any new major undertaking.
RATHFRILAND BAPTIST TRUSTEES ANNUAL REPORT cont'd FINANCIAL REVIEW The church is funded by voluntary gift5 and donations and use 15 made of the Gift Aid Scheme. The church does not seek funds from other sources. Income for the year amounted to £269,250. An amount of £33,376, recognised as income during the th year related to Gift Aid Rebates but had not been received as at 30 September 2024. In addition a further Gift Aid Rebate of £25,526 relating to covenant offerings in the previous financial year had also not been received. Expenditure amounted to £111,407, which includes £2100 of depreciation on equipment, leaving a surplus of £157,843 for the year. A Loan facility of £450,000 was agreed and drawn down from Dan5ke bank to ensure adequate funds were available to pay for the accrued costs of capital works relating to the new church and hall complex. At the 30 September 2024 the Loan balance had been reduced to £340,268. The Church uses Restricted and Unrestricted Funds in its accounting policies. Restricted Funds are used for money donated to the Church for specific purposes e.g. Building Fund. Unrestricted Funds from general offerings are used for all other purposes. Any shortfalls in the Restricted Funds are made up by transfers from the Unrestricted Fund. RESERVES POLICY A policy on reserves has been reviewed and agreed by the Trustees. The income of the church is stable, and sufficient to both meet normal expenses and pay off the cost of planned capital works. In the event of an unexpected financial need the Trustees are confident that members would respond accordingly. The Tru5tee5 are satisfied that a figure equating to approximately three months, expenditure is an appropriate level of reserve balances at the present time. Cash balance at year end exceeded the level of Reserve5 required. SIGNED ON BEHALF OF TRUSTEES BY.. l Mcconnell Church Treasurer Date.. 27 January 2025 R Stewart Church Secretary Date: 27 January 2025
Rathfriland Baptist Church Independent Examinerfs Report to the Charity Trustees of Rathfriland Baptist Church I report on the accounts of the Charity for the year ended 30 September 2024. Respectlve responsibilities of charity trustees and examiner: As the charitvs trustees you are responsible for the preparation of the account5 in accordance with the Charities Act (Northern Ireland) 2008. It is my responsibillty to: examine the accounts under section 65 of the Charities Act, to follow the procedures laid down in the general directions given by the Commi55ion under section 6519llb} of the Charities Act to state whether particular matters have come to my attention. Basls of independent examinerfs report: I have examined your charity accounts a5 required under section 65 of the Charities Act and my examination was carried out in accordance with the general directions given by the Charity Commission for Northern Ireland under section 6519llbl of the Charities Act. My examination included a review of the accounting records kept by the charity and a compari50n of the accounts presented with those records. It also included consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as charity trustees concerning any such matters. My role is to state whether any material matters have come to my attention giving me cause to believe: l. That accounting records were not kept in accordance with section 63 of the Charities Act 2. That the accounts do not accord with those accountlng record5. 3. That the accounts do not comply with the accounting requirements of the Charities Act 4. That there Is further information needed for a proper understanding of the accounts to be reached. Independent examinerfs Statement I have completed my examination and have no concerns in respect of the matter5111 to {41 listed above and, in connection with following the directions of the Charity Commlssion for Northern Ireland. I have found no matters that require drawing to your attention, 27 Date oi 2025 James binson F.C.C.A. WHR Accountants Limited Chartered Certified Accountants 56 English Street Arma8h BT617LG
Rathfrlland Baptist Church Statement of Financial Actlvlty for the Year Ended 30 September 2024 Note Unrestricted Funds Restricted Funds Endowment Fund5 Total 2024 Total 2023 Income from: Donations & Le8acie5 Investment income 148,097 120 121,032 269,129 Izi 291,119 908 Total Income 148,217 121,033 269,250 292,027 Expenditure on.. Charitable Activities Other Expenses 84,825 1,795 22,687 2,100 107,512 3,895 70,623 2,935 Total expenditure 86,620 24,787 111,407 73,558 Net Income / {deficit} Transfers between funds Revaluation of fixed assets 61,597 163,8631 96,246 63,863 157,843 0.00 218,469 10,000 Net movement in funds Reconciliation of funds.. Total funds brought forward {2,266) 160,109 157,843 228,469 256,091 430,408 686,499 458,030 Total funds Carried forward 253,825 590,517 844,342 686,499
Rathfriland Baptist Church Balance Sheet as at 30th September 2024 Unrestricted Funds Restricted Fund5 Endowment Funds Total 2024 Total 2023 Flxed assets: Tangible assets 200,000 868,667 1,068,667 1,069,805 Total fixed assets 200,000 868,667 1,068,667 1,069,805 Current assets Debtors and prepayments Cash at bank and In hand 26,120 30,105 32,782 29,336 58.902 59,441 47,419 70,475 io Total current assets 56,225 62,118 118,343 117,894 Current Ilablllties Creditors due within one year Bank Loans & Overdrafts li 12 2,400 2,400 340,268 501,200 340,268 Total current liabilitles 2,400 340,268 342,668 501,200 Net current assets 53,825 1278,1501 1224,3251 {383.306) Total net assets 253,825 590,517 844,342 686,499 Fund5 of the charity Unrestricted funds Restricted funds 13 13 253.825 253,825 590,517 256,091 430,408 590.517 Total charity funds 253,825 590.517 844,342 686,499 Signed on behalf of the Trustess Bv: Treasurer.. Mr l Mcconnell Church Secretary.. Mr R Stewart Date: 2710112025 Date.. 2710112025
Rathfriland Baptlst Church Cash Flow Staternent forthe Year Ended 30th September 2024 Total Fund5 2024 Total Funds 2023 Cash flow from operating activities Net loutgoingl / incoming resource5 before interest received Depreciation Increase in debtors and prepayments (Decrease) / increase in creditors and accruals 157,722 2,100 {11,4831 (498,8001 217,561 2,100 (47,4191 501,200 Net cash {outflowl I Inflow from Incomin8 resources (350,4611 673,442 Return on investments and servlclng of finance Interest received 121 908 121 Capital expendlture Purchase of tangible fixed assets (9621 11,061,905) 19621 11,061,905) Net Idecreasel / increase in cash for the year (351,3021 (387,5551 Cash and cash equivalents at the beginning of the year 70,475 458,030 Cash and cash equivalents at the end of the year 1280,8271 70,475
Rathfriland Baptlst Church Notes to the Accounts - Year Ended 30 September 2024 I. ACCOUNTING POLICIES The principal accounting policies adopted, judgements and key sources of estimation uncertainty in preparation of the financial statements are as follows.. a Basis of preparatlon The accounts are prepared Sn accordance with the Charities Statement of Recommended Practice (Charities SORP 20221, FRS102 and with the Charities Act 2011. b Income recognition All incoming resources are included in the Statement of Financial Activities when the charity is legally entitled to the income after any performance conditions have been met, the amount can be measured reliably and it is probable that the income will be received. ¢ Donatlons Donations are accounted for 8ross when received. Fixed a55et gifts in kind are reco8nised when receivable and are included at falr value. d Legacles Legacies are accounted for when probate has been completed, the amount of the legacy can be reliably quantified and the conditions of the legacy are within the control of the Church. È Investment income Investment income is included in the accounts in the year in which it is receivable. f Expenditure recognltion All expenditure is accounted for on an accruals basis. Expenditure 15 recogni5ed where there 15 a legal or constructive obligation to make payments to third parties, it is probable that settlement will be required and the amount of the obligation can be measured reliably. g Support costs Support costs are those that as51St the work of the Church but do not directly represent charitable activities and include office costs and governance costs. Where the 5UPPOrt costs cannot be directly attributed to particular headings they have been allocated to the cost of raising funds and expenditure on charitable artivities on a basis consistent with the use of resources. This represents direct expenditure on the governance of the Church. Most of the management is carried out without char8e by volunteers. Thi5 intangible cost is not included in the Statement of Financial Activities since there is no measurable cost to the volunteers for their service. h Fixed assets Tangible fixed assets are capitalised if they Can be used for more than one year and cost as least £1,000. They are initially recognised at C05t, or for donated assets, at a reasonable estimate of their value on receipt. The new Church building and Church hall have been valued at C05t. The existing car park and graveyard have a fair value of EIO,000 as there 15 no reliable information regarding this. l Depreciation During the year ended 30th September 2024, depreciation has been provided on all fixed assets, other than the Church building and Church Hall, to write off the cost on a straight-line basis over their expected useful life. at the following rate.. Equipment Fixtures and flttings 15% io% No depreciation will be provided on the Church building and Church Hall as its remaining useful life currently exceeds 50 years. The fair value of all tangible fixed assets wlll be reviewed by the Trustees annually.
Rathfriland Baptist Church Notes to the Accounts- Year Ended 30 September 2024 Icont'dl J Funds Unrestricted funds are available for use at the discretion of the trustees In furtherance of the general objectlves of the charity and which have not been designated for other purposes. Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for specific purposes. The cost of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements. k Employee benefits The charity operates a deflned contribution plan for its employees. A defined contribution plan is a pension plan under which the charity pays fixed contributions into a separate entity. Once the contributions have been paid the charity has no further payment obligations. The contributions are recognised as an expense when they are due. Amounts not paid are shown in accruals in the balance sheet. These assets of the plan are held separately from the charity in an independently administered fund, I Preparation of accounts on a going concern basls The Church generally meets its day-to-day workSng capital requirements from its annual income. The Trustees have obtained and reviewed cash flow forecasts for the incoming year and based on these are satisfied that the Church has resources to provide a reasonable expectation that it can continue to meet its financial obligations as they fall due for the foreseeable future. Therefore, these financial statements have been prepared on a going concern basi5. 2. DONATIONS & LEGACIES Unrestricted Funds Restricted Funds Endowment Funds Total 2024 Total 2023 Donations and gifts Gift Aid on donations, gifts, leagacies and bequests 129,676 106,077 235,753 243,700 18,421 14,955 33,376 47,419 148,097 121,032 269,129 291,119 3. INVESTMENT INCOME Unrestricted Funds Restricted Funds Endowment Funds Total 2024 Total 2023 Deposit Interest 120 121 908 120 121 908 4. CHARITABLE ACTIVITIES Unrestricted Funds Restricted Funds Endowment Funds Total 2024 Total 2023 Church Envelopes Ministry and support staff costs Utilitles General Church activity expenses Building Loan Interest Charges Donations and gifts 215 49,727 9,936 24,609 215 49,727 9,936 27,794 19,132 708 188 39,287 3,Z92 20,389 3,185 19,132 370 338 7,467 84,825 22,687 107,512 70,623
Rathfriland Baptist Church Notes to the Accounts - Year Ended 30 September 2024 Icont'dl 5. OTHER EXPENSES Unrestricted Funds Restricted Funds Endowment Funds Total 2024 Total 2023 Governance costs Depreciation 1,795 1.795 2,100 835 2,100 2,100 1,795 2,100 3,895 2,935 6. TOTAL EXPENDITURE Unrestricted Funds Restricted Fund5 Endowment Funds Total 2024 Total 2023 Charitable Activities Other Expense5 Fixed Asset Addition5 84,825 1,795 22,687 2,100 962 107,512 3,895 962 70,623 2,935 1,061,905 86,620 25,749 112,369 1,135,463 7. EMPLOYEES Employment Costs Total 2024 Total 2023 Wages and salaries 49,727 39,287 49,727 39,287 Number of employees 2024 2023 The average number of employees during the year was: There were no employees in receipt of employee benefits In excess of £60,000. The Pastor acts as one of the Church'5 tru5tee5 in accordance with the Trust deed and received remuneration, expenses allowance and pension contribution5 totalling £1,140 in respect of his SeiCe5 as Pastor. To fulfil his role within the Church, he is also provided with accommodation at the Church Manse which the Church rent on his behalf. The only amounts paid to the remaining Trustees were for out-of-pocket expenses. The Church pays pension contributions for Its Pastor to Standard Life. a defined contribution scheme, which is not contracted out of the State Second pension. The scheme is a multi-employer scheme and it 15 not P055ible to identify the assets and liabilities of the scheme which are attributable to the Church. The Assistant Pastor who is not a Trustee of the Church received remuneration of E21,137 and an expenses allowance of £3,231. Life Assurance of £476 was paid to Unum and Pension contrlbutions of £1057 were also paid by the congregation in respect of the A5SlStant Pastor to the Standard Llfe.
Rathfriland Baptist Church Note5 to the Accounts - Year Ended 30 September 2024 Icont'd) 8. TANGIBLE FIXED ASS5 Church, Church Hall, Car Park & Graveyard Fixture5 and fittings Manse Equipment Total Costlvaluation As at 1st October 2023 Additions Revaluation 1,057,905 962 14,000 1,071,905 962 As at 30th September 2024 1,058,867 14,000 1,072,867 Depreciation As at 1st October 2023 Charge for the year 2,100 2,100 2,100 2,100 As at 30th September 2024 4,200 4,200 Net Book Value As at 30th September 2024 1,058,867 9,800 1,068,667 As at 30th September 2024 1,057,905 11,900 1,069,805 The assets of the Church comprise.. Church building, and Church Hall and their contents along with a graveyard and car park. During the year ended 30th September 2024, the depreciation has been provided on all fixed assets, other than the Church building and Church Hall. No depreciation will be provided on the Church buildings as its remaining useful life currently exceeds 50 years. The fair value of all tangible fixed assets will be reviewed by the Trustees annually. 9. DEBTORS AND PREPAYMENTS 2024 2023 Debtors 58,902 47.419 10. CASH AT BANK AND IN HAND 2024 2023 Cash in hand 59,441 70,475 11. CREDITORS DUE WITHIN ONE YEAR 2024 2023 Accruals 2,400 501,200 12. BANK LOANS AND OVERDRA5 2024 2023 Bank Loans and Overdrafts 340,268
Rathfrlland Baptist Church Notes to the Accounts- Year Ended 30 September 2024 {cont'd) 13. FUND BALANCES Balance Income Costs (including revaluation) Surplus/ Transfers Balance at start {Deficitl nett at end Unrestrlcted Funds Fund 256,091 148,217 86,620 61,597 163,8631 253,825 Total Unrestrlcted Funds 256,091 148,217 86,620 61,597 (63,863) 253,825 Restricted Funds Fund 430,408 121,033 24,787 96,246 63,863 590,517 Total Restricted Funds 430,408 121,033 24,787 96,246 63,863 590,517 Endowment Funds Total Endowment Funds Total Funds 686,499 269,250 111,407 157.843 844,342 Analysis of closing funds Unrestrlcted Restrlcted Total Funds Total Funds Funds Funds 2024 2023 Fixed assets Current assets Current liabilities 200,000 56,225 12,4001 868,667 62,118 1340,2681 1,068,667 118,343 1342,6681 1,069,805 117,894 1501,2001 Total Funds 253,825 590,517 844,342 686,499 14. RELATED PARTY TRANSAcfioNS Pastor lan Wilson is a trustee of the Church. In his capacity as the Pastor of the congregatlon he received remuneration of £22,800 and an expenses allowance of £0. Life Assurance of £513 was paid to Unum and Pension contributions of £1,140 were a150 pald by the congregation in respect of the Pastor to the Standard Life. None of the other trustees received any remuneration, only reimbursement for out-of-pocket expen5e5 incurred in connectlon with their dutie5. There were no other related party transactions. 15. CRITICAL ACCOUNTING JUDGEMENTS AND ESTIMATION UNCERTAINTY Estimates and judgements made in the process of preparing the financial Statements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The Trustees do not consider that there are any critical accounting estimates or assumptions which may have a significant risk of causing a material adjustment to carrying amounts of a55ets and liabilities withln the next financial year.
Rathfrlland Baptist Church Notes to the Accounts- Year Ended 30 September 2024 Icont'dl 16. PENSION The Church pays pension contributlons for its Pastor to Standard Life, a defined contribution scheme, which is not contracted out of the State second pension. The scheme 15 a multi-employer scheme and it is not P055ible to identify the assets and liabilities of the scheme which are attributable to the Church. Therefore, in accordance with FRS102 Section 28, the scheme 15 accounted for a5 a defined contribution scheme, 17. CAPITAL COMMITMENTS At 30th September 2024 the Church had no capital commitments.