2021-12-31-accounts

arity regi5tTrtion runber: SC001501 Perth Baptist Church Anr¥Jal ReF(rt aThl Finarthl Statements for Year Ethl 31 December 2021

Perth Baptist Church Contents (continued) Referen￿ and Administrative Details Trustees, Report 2to5 ststement of Trustees, ResF()nsibilities Independent Examiner's ReEKsrt ststement of Financial Activities 8t09 Balan￿ Sheet io Notes to the Financial Statements Ilto26

Perth Baptist Church Reference and Administrative Details Prlnupal Office 14 AlrTM)rM1 v￿ Perth PHI IQQ Charity Registration Number SCL￿1501 Inde￿rKIent Examiner oiris an oung 6 Atholl creS￿nt Perth PHI 5JN Page I

Perth Baptist Church Trustees. Report The trust￿$ present the annual tcgetlw with the finarKial ststements of the charity for the year ended 31 December 2021. The financial statements have len prepar&J in accordan￿ with the accounting tL)licies set out in the notes to the &counts and ccmnpty wrth the tharities and Trustee Investment (Scotland) Act 2C(15, the charit￿ Accounts (Scotland) Reguk4trons 2006 (as amended) and Accounting and ReFwirvJ appropriate control measures, as conditions Improved gradually towards the end of the year. Durirrfj earl￿r part of the year, it became appa￿nt that the ongoiThJ search of a new churth pastor was now lealing to a S￿cIfiC individual. The Search Gr(￿p, compJseJ of a representative group of memters and deacons resented a roLk)sal and then a reccmmendath)n to members to consider the appointment of to this role. Fol￿ng intrcJurtlon to vla events organised online with members, a tsal￿t was held which in his successfvl apwJintrnent to serve as the church pastor from Sunday 1st August 2021. Prior to this time the church manse was rthorated and repared in order that the r￿ca￿e5 famity could move in and begin to settle in Perth tefore commerKed in his ne￿ role. The church was grateful to receive funding via the govemment 'Adapt and thrive. initiative which allowed purchase of live stream camera equipffent. This has enabled 'live' seNices to te simultaneously shar8J online. The system was brought into use shortty before 'nomial' services recomenced on the church premises. It has allow&1 tlw)se WIN) have felt unable to return to attending services for health reasons still to participate online in a 'llve' enviroment and b*n a major blessing to all less able to physicalty attend Servi￿ for their various reasons. The churth has run onllne Alpha course5 which continue to be a blessing and encouragement to those who have l&J and attended. {￿Urch ￿&￿erShip aThJ planning meetings also continued to be hekl pr&Jominantty via Zo)m throughout the year. Perth Baptist Church also continues to supkxxt missionaries linked with us through BMS Work Mission. We a￿ one of around W) churches t￿t supwrts the BMS Birthday Scheme which raises money for BMS. Our Overseas Missionary Ccffimittee works hard to keep us well Infomiaed and prayerful for people setving our Lord overseas and with whom we as a Church have a connection. Regular prayer letters are shared and visits from SFeakers invow in overseas mission have been able to be arranged, 9Jmetimes n￿re eayty in virtual fomwt. Page 2

Perth Baptist Church Trustees, Report (continued) The Church continues its memtership of Perth Action of Churches Together. Our part time youth worker completed the second year of hls 3 year contract and was able to make some inroads into meeting and supporting young people, both in the church and through connections via schools in the local community. 4 new Mem1￿r$ joined the church throughout the year, I member passed away and 12 moved on. Our membership now stands at 164. It was a joy to see a number of people make first-time decisions to follow Christ. 5 people were also baptised during the year. Flnanclal revlew Pnncipal funding sources The church receive5 its funding from those in the fellowship by way of weekly offerings and standing orders, many of which are Gift-Aided, and from general donations. The church doe5 r￿t organise specific activities for the purwse of raising income. There is no investment income. The charity generated a deficit for the year of £5,384 {2020.' a surplus of £27,246). The tot31 income amounted to £212,712 (2020.. £180,050), of which ElO,466 {2020: £12,601) was ￿lated to ￿trIcted projects and £202,246 {2020: £167,449) to unrestrlcted funds. At the balan￿ sheet date the unrestricted reserves v4ere £1,332,289 (2020.. £1,338,793), including designated funds of £k,209,483 (2020: EI,194,606) with £6,263 ((2020.. £5, 143) in restricted funds. Pollcy on ￿SeThe$ The current free reserves (l.e. reserves not commltted or Invested In flxed assets) of the church are currently £122,806 {2020: £144,187). The Trustees are of the opinion that the church Is able to fund itself on an ongoing basis. The church increased its reserve fund from £30,000 to £45,000 in advan of the appointment of the new Church Pastor during 2021. At the year-end the free reserves exceeds the reserve fund, but will be utilised in future years, Grant maklnqpollcles The church undertakes to donate 250/0 of all Income to misslon. (Overseas 15Wo, home IO¥o). In 2021 the Home Mission donations went to support the Baptist Union of Scotland, Scottlsh 8aptlst Ministers Fellowship, Christians Against Poverty and Greyfriars House in Perth; support to an individual training in Youth Ministry at Cornhlll College {Glasgow), Perth Harbour Coun5elling, Perth Str￿t Pastors, Prlson Fellowship, Scottish Bible Society, Community Bible kniety, P&K Foodbank, Gideons International (UK), SU Scotland and UCCF, The Overseas Mission donations We￿ given to support BMS, Slavic Gospel A550Ciation, Interserve, Novi-most International, Christian SolidarSty Worldwide, Serbla, International Justice Mission and TEARFund, Plans for future perlods Aims and key objertlves for future perlods Our part time (16 hours a weekl Youth Worker in a Joint venture wlth Perth and District YMCA has a further year to run and, although restrirted from orlginal intentions, throughout 2021 has been able to find effective ways to keep in touch with young Feople in our church ar¢d community. Page 3

Perth Baptist Church Trustees. Report (continued) Structurei governance and management Nature ofgoveming doLvn Perth Baptist Church is estsblished by constitution. It is register&J as a charty with the Office of the Scottish Charity Regulator {OSCR) is rec(yJnised as a charity for the purF¥)ses of Section 505 Income & Corporation Taxes Act 1988. However, the Trusts have authoris￿l we rnove from being a register￿ charity with OSCR to become a sao and this pr￿esS has been ongoing throughout 2021 with members also giving their approval. Tr church is affilkitsj to the Baptist Union of kotland. Trustees are apwinted by the members through an annual election. C3ndidates are nominated following careful considerat￿n of their surtability and their sknlls. Memters are invited to vote -yes" for those candmlates tlw consider suitsbk. To elected. a candKlate neexls to 5￿u￿ a ￿ vote from at least two thirds of those vobng. Successfvl carKJKlates are app)inted for a six year tern. InduLon and training of twseees The aims, objectives and current actNitEs of the Churth a￿ explained to all new Trustees in an in depth indUCt￿n pr(￿$ and they a￿ made awa￿ of the ￿Uirements contsin&l in the publicatjons "Guidan￿ for Trustees" and the Charity ComMiss￿n "CC3 - Resw)nsibilities of Charty Trustees. The members take major decisM)ns at the quartety memters meetirrfJs. The Trustees are resp)nsible for the day-to-day operatiry of the church. The Tnjstees are elect8J by the members and nom)ally serve a six-year temi. The churth is congregatsonal in govemment. The Trustees have a￿Ssed the major risks to which the church is exposed, in partKular those related to the Orerations and finan￿ of the churth. arKI are satisfEd that systems are in pla￿ to mitigate any exF¥)sure to the major risks. Finanaal instruments Obiedives andpolKies The charity's activit￿ exw fc to a nUM￿r of fina￿la1 risks indudirrfj credit risK cash fk)w risk aTrJ liquidty risk. Cash Ilowrts The trustees afe conscious of the aim to retsin sufficnt cash r￿Ur￿ to m*t the immediate requirements of the charity. Pèje 4

Perth Baptist Church Trustees. Report (continued) The charity's princi￿31 financial asset are the ￿urch premises arKJ its bank ts31an￿. The charity has Th) sKJnificant corKentration of credit risk. LIqU￿ltyrisk The charWs I￿Uld fuTrJs are kept in a var• of bank accounts to enable it to se￿￿e its everyday financial needs. The annual reFQrt was appr￿ed by the trust￿5 of tre dwnty 7 June 2022 and signed on its behalf by.. "I ￿jS￿e Page 5

Perth Baptist Church ststement of Trustees, Responsibilities The trustees are reswisibk for preparing the TnJstees' Annual ReFQrt and the financial statements in accordan￿ with the United Kingdom Accounting StsThJard5 (Unitej KIngd￿n Generally Accepted Accounting Prattice) and applicable Law and regulations. The law applbcable to charities requires the trustees to prepare financial ststements for each financial year which give a true and fair view of the state of affairs of the tharity of the incoming r￿urCeS and application of resour￿ of the charity for that In preparirvj these finanoal statements,the trustees a￿ re%]uired to: select Suitab￿ accounting rK)Iw and then appty them consistenty; observe the methlxls and princofv In the tharities 93RP: make JUdgen￿ts and estlmates that a￿ ￿Sonab￿ ard wucknt: state whether applicable ￿COUntIng stsndards have bn fdk)wed, subj( to any material departu￿ dixlosed and expk4ined in the financkil ststements; and prepare the financial ststements on the con￿rn tog's unless It Is Inapproprlate to p￿sume that the charity will continue in business. The trust￿ a￿ ￿$￿<*n$￿tsle for keeFxf#J Fyoper KcountiTrJ rff￿d5 that disdose with reasonable accuracy at any ts'me the financial p)gtion of the charity and enab￿ them to ensure that the finanoal statements comply with the CharitEs Trustee Investsnent (Scotland) Art 2CK)5, the Charities Accounts (Scotland) Regulations 2006 (as amended) aTrJ the provlslons of the Trust Deed. The trustees are also respjnsibk for safeguarding the assets of tre charity and hen￿ for taking reasonable steps for the prevent￿ and detectsm of fra￿￿ arKI 0￿r irregularities. Approved by the trustees of the chanty on 7 June 2022 arK1 SVJr￿ on its behalf by: ru5tee Pa&E 6

Perth Baptist Church Independent Examiner's Report to the trustees of Perth Baptist Church l ￿pOrt on the accounts of the charity for tt￿ year erKled 31 ()ecember 2021 which are set out on pages 8 to 26. Respective responsibilities of trystees and examlner The charWs trustees are resF)rsible for the PreParat￿n of tr accounts in accordan￿ with the terms of the Charities and Trustee InVest￿t (Scotlarnl) kt 2005 and the Charities Accounts (Scotland) Regulations 2c￿. The chanvs trustees conswjer that the audrt requirement of Regulation 10(l)(a) to (cl of the 2CQ6 Accounts ReguLations dces not appty. It is my reswnsibility to examine the accounts as required under sett￿n 44IIXc) of the Act and to stste whether particular matters have come to my attention. Basis of Independent examlner'$ reP￿t My examination was carried out in accordantr with Regulation 11 of the Charities Accounts (Scotland) Regulations 2(NJ6. An examination indudes a review of the ￿￿UntIr￿j rerords kept by the charity a￿1 a comparlson of the accounts presented with those records. It also includes consideration of any unusual items or disc105ure5 in the accounts, and seekir4 explanations from you as trustees Con￿rning any such matters. The Procedu￿ undertaken not provK all the eviden￿ that woukl tr￿ required in an audrt, and consequently I do ntx express an audrt opinion on the view given by the accounts. Independent examlner's statement In connertThi with my examination, r#) matter has coff to my attentM)n: (l>which gives me reasonable cause to believe that in any materlal ￿$Fect tre wulrements.. . to keep accounting rerords in accordance with 44(1)(a) of tr 2005 Act and Regulation 4 of the 2CQ6 Accounts RegUlat￿n5. and . to prepare accounts which accord with ts accountiw rff￿d$ arKI ccmpty wrth Reguktion 8 of the 2006 Accounts Regulations have not been met; or (2)to which, in my opinion, attention str￿1d ￿ drawn in order to enable a proper urKler5tandiTrJ of the accounts to be reached. ASS￿l0t￿$f Certified Chartered Accountants 8 June 2022

Perth Baptist Church Statement of Financial Activities for the Year Ended 31 December 2021 Total 2021 Total 2020 Income and Endowments froffl: Donations and legaoes Expenditure on.. charitsb￿ ￿tl￿tIeS 202,246 10,466 212.712 180,050 218 976 168 433 Totsl Expenditure 218 976 168 433 Net (expenditure)lincome Gross transfers bets4￿n funds (3,038) (3.226) (6.264) 11,617 {4,346) Other recognised gains and losses Artuarial gains on defined benefit pens￿￿ schen Net movement in funds (6.504) 1,120 (5,384) 27,246 Recondllatlon of fund$ Total funds brought forward Total funds carrled forward 14 1316 690 1332 289 1338 552 1343 936 Pa9e 8

Perth Baptist Church Statement of Financial Artivities for the Year Ended 31 December 2021 (continued) Unrestricted Restricted funds funds Total 2020 Income and Endowments from: t)onations and legacies 180 050 Totsl income 180 050 Expenditure on: Charltable activbtles 152 639 Total expenditure 152 639 Net incomel{expenditurel Gross transfers te￿ttn funds 14,810 (2,484) (3, 193) 2,484 11,617 other recognised gains and losses Artuarial gains on defined benefit pension schemes Net movement In funds 27,955 (7091 27,246 Recondllatlon of funds Total funds brought forward 1310 838 1316 690 Total funds carried fomard 14 1338 793 1343 936 All of the charity's activities derive from continuing operations during the at¥)ve tr40 k*rioxds. Page 9

Perth Baptist Church (Registration number: SC001501) Balance Sheet as at 31 December 2021 2021 2020 Note Flxed assets TangibSe assets 1,234,602 1,225,856 Current assets Debtors Cash at bank and in hand io li 3,113 140 474 7,768 149 278 143,587 157,046 Credltors: Amounts falllng due wlthln one year 12 Net current assets 129 069 Totsl assets less current liabilltles 1,363,671 1,375,186 Provlslons 13 Net assets 1338 552 1343 936 Funds of the charlty: Restrlcted Income funds Restricted funds 6,263 5,143 Unrestricted Income funds Unrestricted funds 1332 289 1338 793 Total fund$ 14 1338 552 1343 936 The financial statements on pages 8 to 26 were approved by the trustees, and authorised for Issue on 7 June 2022 and signed on their behalf by.. Trustee Page 10

Perth Baptist Church Notes to the Financial Statements for the Year Ended 31 December 2021 l Accounting polides Statement of complian The finanoal statements have ￿en prepar&J in accordarKe with Accounting and ReFX)rting by Charities: Statement of RerommerKled PractKe applthbk to charits preparing their accounts in accordance with the Financial Re￿rtIng Stsndard applicable in the UK and Republic of Ireland (FRS 102) (effective l January 2019) - (Charities SORP (FRS I02)(Seco￿l editKJn - October 2019)), the Charities and Trustee Investment (kotkirKI) Act 2CK15 arKI the Charities Accounts (Scotland) Regulations 2Crf)6 (as amended). Basis of preparation Perth Baptist Church meets the definitK￿ of a publ￿ benefit entity under FRS 102. Assets and liabilities are initialty reccyjnised at historKal cost or transaCt￿n value unkss otherwise ststed In the relevant accounting FKJliry notes. The finanoal ststements are presented in Sterlirwj (É) and rounded to the r¢earest £1. Exemptlon from preparlng a cash flow statement The charity opted to early adopt BUl￿tin I published on 2 February 2016 and have therefore not included a cash flow statement in these financial statements. Golng concern The trustees consider that there a￿ no material uncertainties abjut the charity's ability to continue as a golng COn￿rn. Irbcome and endowments Voluntary income including donations, gifts, legaa'es and grants that provkk core funding or are of a general nature is recc¥JniwJ when the charity has ents'tlement to the income, it is probable that the income will be received and the amount can te measured sufficient ￿liabIlity. Donations and legacies are rttc3nised on a r&vabk basis when receipt is probab￿ and the amount can be reliably measured. Grants ￿￿1vable Grants are rec(yJnised when the charity has an entitlwnent to the funds and any conditions linked to the grants have been met. Where perforna￿ Cond[t￿n5 a￿ attached to the grant and a￿ yet to be met, the income is recc4Jnised as a Ih3bilty arKI Ind￿ on the balan￿ Sheet as deferr&J Income to releawl. Giftaid Incoming reSoUr￿S from tax reclaims a￿ IrKI￿ in the Statement of Finanoal Actiwties at the same time as the gift to whKh they relate. Page 11

Perth Baptist Church Notes to the Financial Statements for the Year Ended 31 December 2021 (continued) Expenditure All expendrture is reccyjnised Or￿ there is a Iwjal ty Constr￿ obligation to that expenditure, it is probable settlement is requir￿ and the amount can ￿ measur&1 reliably. All costs are allc(ated to the applicable exFEnditure heading that aggregate simikar costs to that category. Where costs cannot be directly attributed to particular headings they have teen allc(ated on a basis consistent with the use of resources, wf(h central stsff costs alkcated on the basis of time s￿nt, and depreciation charges alIc￿ted on the of the asseys use. Other SUp￿rt costs a￿ allocated based on the Sp￿ad of staff costs. Chantable activities Chartsble expenditure comprises those costs incurred by ￿ charity in the delivery of its attivities and Servi￿ for its beneficiaries. It ir￿lUdeS toth costs that can be allcKated direttly to s￿h attivities and those costs of an indir￿t nature n￿eSSary to SUPFQrt them. Support costs Supp)rt costs include ￿ntral furKtions aThJ have tÉen alk(ated to attivity cost categorie5 on a basis consistent with use of resour￿5, for exarnp￿, all￿ating property cosis by flcfjr areas, or per capita, stsff costs by the time stEnt and other costs by their usage. Governan￿ costs These include the costs attributable to the charity's Comp1kan￿ wtth consb"tutional and statutory requirements, ind￿ling audiL strategic management and trust￿,5 n&ings and reimbursed expenses. Government grants Government grants a￿ recognised based on the accrual mc¥Jel and are measured at the fair value of the asset weived or r￿1vable. Grants are ckissifEd as relating either to wenue or to assets. Grants ￿lating to revenue are recconised in income over the ￿ri(X1 in which the related costs are recognised. Grants ￿latr"ng to assets are rercgnised over the exiktted usefijl life of the asset. Where part of a grant relating to an asset is deferred, it is reccJnised as deferred incorne. Taxation Perth Baptist Church is a charity and is recconised as such by H M Revenue & Customs for tsxation purp)ses. As a there is no liabilrty on any of its income. Tangible fixed assets IndNidual fixed assets costs.ng £5(Y).00 or rrrfjre are initially recorded at cost. P￿e 12

Perth Baptist Church Notes to the Financial Ststements for the Year Ended 31 December 2021 (continued) The Trusiees have decided not to provide further depreciation on the ￿rnianent buildings, which is not in line with Financial ReF(Srting Standard applKabk in the UK and Republic of Ireland (FRS 102) (effective l January 2019) - (CharIt￿S SORP (FRS 102)(SeccMid &lition - (ktober 2019)). The users of these accounts are prirKipalty the members of the Church and the Trust￿5 feel that the cost of carrying out a profess#)nal ValUat￿n to include these assets at market value in the accounts would be considerable compared to the limited additional benefit derived by the users of the accounts. The Trustees have no reason to believe that the market value of the prowy is less than ojrrent net bJ)k value. Depredatlon and amortlsatlon Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value. over their expected useful economK life as follows.. Asset dass Pem)anent buildir#Js Fixtu￿ & fittings Depreclatlon method and rate depreciats'on 12.5% Stra￿ht line Trade debtors Othei deblors are recognised at the settle￿t a￿￿nt due. Prepayments are valued at an amount prepaKI net of any discounts due. Cash and cash equlvalents Cash and cash equivalents cOMp￿e cash on hand and on (kF¥J￿ts. Trade credltors Credltors are reccrfJnlsed Whe￿ the￿ Is a present oblvjation ￿Ults.0g from a past event that woll probably result in the transfer of funds to a thlrd paty and the amount due to settle the obligatlon can be Measu￿ or estimated ￿l￿bI¥. C￿dItorS a￿ normalty reco9nised at their sett￿rnent amount after allowing for any trade discounts due. Fund structure Unrestricted inccmne funds a￿ general fu￿15 that are availabk for use at trUSt￿'S dlsuetlon In furtheran￿ of the obJectNes of the charlty. DesignabJ funds are unrestrKted funds set aside for purposes at the d6scretlon of the trustees. Restricted income funds are those donated for use In a partkular or for spedfic pur[￿Se$, the use of which is restricted to that area or purFrf)se. Page 13

Perth Baptist Church Notes to the Financial Statements for the Year Ended 31 December 2021 (continued) Pensions and other post retirement obligations The charity OFerates a defined contribution pension scheme whKh is a FenS￿n plan under which fixed contributions are paid into a Fension fund and the chanty has no legal or construrtive obligation to pay further contributions even if the fuThJ th)es hokl sufficient assets to pay all employees the tnefits ￿lating to employee Servi￿ in the cUr￿nt and prK)r &ricés. Contributions to defined contribution plans a￿ reccpjnised in the Statement of Financial Activities when they are due. If contribution payments exceed the contribution due for servi￿, the excess is recogrsised as a prepayment. The charity also operates a defined benefft ￿nSIon scheMe.TYpnl￿ defined benefit plans deflne an amunt of Fension ￿nefit that an empknyee will receive on retirement, usually dependent on one or mre fattors such as age, years of setvice and cOm￿nSation. The liability recchJni5ed in the Balan￿ Sheet in respect of defined benefit Pens￿)n plans is the present value of the defined ￿nefIt oblwtion at the ￿[￿rtIng date minus the fair value of plan assets. The defined Eenefit obligat￿n is measuroj using the projected unit credit methcJ. The present value of the defined benefit obligation is detemiined ty discounting the estimated future payments by reference to market Y￿Id5 at the reFQrting date on high4Jualty corpjrate L￿ndS that a denominated in the currenq in which the benefits will be paid, and that have tems to maturity approximating to the terms of the related pension liability. Actuarial gains and losses a￿ charged or c￿lted to other comprehensive income in the FtrKJ in which they arise. Page 14

Perth Baptist Church Notes to the Financial Statements for the Year Ended 31 December 2021 (continued) 2 Income from donatlons and legacies Unrestricted funds Designated General Total 2021 funds Donations and legacies: Offerings: plate Offerings: grft aid Gift aid reclaimed Grants, induding capitsl grants: Government grants Grants from other Char￿e5 other donations 6,833 120,968 6,833 120,968 30,348 2,598 2.598 12,300 12,31Xl 12,300 189,946 Unrestricted funds Designated General 10,466 212 712 Total 2020 funds Donations and legacies,. Offerings: plate Offerings: gift aid Gift r￿laImed Grants, induding CA￿￿1 grants,. Government grants Grants from other charities Other donations 6,936 113.986 29.044 6,936 113,986 29,044 167 389 180 050 Page 15

Perth Baptist Church Notes to the Financial Statements for the Year Ended 31 December 2021 (continued) 3 Expenditure on charltable actlvities Unrestrlcted funds Designated Genernl Total 2021 funds ArtlvltEs undertaken directly Depreciation Staff costs Allocated support Costs Governance costs 119,144 3,414 122,558 3,554 78,804 11,284 3,554 114 70,738 7,415 7,952 2,326 1,543 218 976 Total 2020 Unrestricted funds Deslgnated General funds Activitie5 undertaken dlrectty Depreciation Staff costs Allocated supwrt costs Governance costs 92,496 7, 175 99,671 2,717 54,238 8,095 2,717 817 1,314 45,321 6,262 8,IC() 519 147 791 168 433 Page 16

Perth Baptist Church Notes to the Financial Statements for the Year Ended 31 December 2021 (continued) 4 Analysis of governance and support costs Governance costs Unrestrlcted funds General Unrestricted funds General Total 2021 Total 2020 Independent examiner fees Examination of the financial ststements Legal fees 1.320 1,320 5 Net incomlnglout9oln9 resources Net {outgoinglllrKcKnlng resour￿ for year indude: 2021 2020 Depreoats'on of fixed a55ets 6 Trustees remuneratlon and expenses The community pastor and minister, who a￿ also Trustees. received remuneratiors, including pension contributions, of £50,094 {2020: £31,510). Miithje and offKe eX￿nSeS were of £2,781 {2020'. El,891) was relmbursed durirwJ the year. No trustee5 have received any other beneffts from tt* charity during the year. The amount expenses waNed by the trustees during the year tOts1￿ £Nil {2020 - £Nil). Donations made by the trustees wIt￿Ut any C(￿J￿K)n5 attach&J totalled £Nil for the year {2020 - £Nil). Page 17

Perth Baptist Church Notes to the Financial Statements for the Year Ended 31 December 2021 (continued) 7 Staff costs The aggregate payroll costs were as follows: 2021 2020 Stsff costs durlng the year were: Wages and salaries Sc(ial security costs Pension costs 63,487 3,955 42,421 The monthly average number of persons (including senior management team) empw by the charity during the year expressed as full time equivalents was as follows.. 2021 2020 No Full time staff Part time staff 2 (2020 - 2) of the at¥Jve employees participated in the Defined Contribution PenS￿n Schemes. Contrlbuuons to the emph)yee pension for year totslled £10,573 (2020 - £8,987). No employee re￿IVed emoluments of more than É60,(KKI during the year The total employee benefts of the key management Fersonrd of the charity We￿ £50,094 (2020 - £28,553). Page 18

Perth Baptist Church Notes to the Financial Statements for the Year Ended 31 December 2021 (continued) 8 Taxatlon The tharity is a registered charity and is therefore exempt frcfft taxation. 9 Tanglble fixed assets Fumitu Other and tangible equlpment fixed asset Land and l)ulldingS Total Cost At l January 2021 Additions 1.174.995 153.017 115.921 1,443,933 At 31 Decemter 2021 1 174 995 165 317 115 921 1456 233 Depreciation At l January 2021 Charge for the year 52,754 148,397 16,926 218,077 At 31 D￿ember 2021 151951 221631 Net book value At 31 December 2021 1122 241 98 995 1234 602 At 31 D￿rnber 2020 1 122 241 98 995 1 225 856 Heritsble pro￿rty is hebj at cost as the Trustees, feel that the cost of carying out of a professional valuation to include these assets at market value in the accounts would ￿ considerable compared to the limited additional tenefit derived by the users of the accounts. The Trustees have no reason to elieve that the rna￿et value of the PrO￿rtY is th than current net t(ÉJk valL*. io Debtots 2021 2020 Other debtors Paje 19

Perth Baptist Church Notes to the Financial Statements for the Year Ended 31 December 2021 (continued) 11 Cash and cash equivalents 2021 2020 Cash on hand Cash at bank 88 149 278 12 Creditors: amounts falling due within one year 2021 2020 Other tsXat￿n arKI scKial security Accruals other creditors 1,061 1,320 1,320 Page 20

Perth Baptist Church Notes to the Financial Statements for the Year Ended 31 De￿mber 2021 (continued) 13 Pension contributions The Church is an employer partia"patiThJ in a pension scheme known as the Baptist PeTr5￿n Scheme C'the Scheme"). The Scheme ts a seForate legal entity and the assets of the Scheme are held separately from those of the Employer and the other Paftiapats'ng employers. For any month, each parbapating employer in the Scheme pays contributK)ns as set out in tr Schedule of Contributions in force at that time. The Scheme is considered to be a mu￿1￿Mployer scheme as descrited In tion 28 of FRS 102. Thls is because it is rtrot F#)ssible to attribute the Scheme's assets and liabilrties to skyific employers and means that contribut￿n5 are accounted for as rf the Scheme were a defined contribution scheme. The PenS￿n costs charged to the SOFA in the year are contributions payable towards benefits and expenses accrued in that year. plus any impact of deficienLry contributions (see telow). The Minister and some memter5 of the church stsff are eligibk to Joln tre heme. From January 2012, rension provision is being made through the Defined Contribution (DC) Plan within the Scheme. In general, members pay 8% of their PenS￿nable Income and employers pay 60 of the members, Pensionable I￿Ome into indivKlual pensKJn accounts, which are operated and managed on behalf of the Pensions Trustee by Legal and General tife Assuran￿ S(Kiety Limited. In addition, the employer pays a further 4010 of penS￿nable Income to cover Death in servi￿ Beneflts, adMinistrat￿n costs, arKI an ass(Kiated InsUrar￿ wlicy whth provK5 income protection for Stheme members in the event that they are unable to WO￿ due to long temi incapacity. This income protection Folicy has teen insured by the Baptist Un￿n of Great Brrtain with Unum Limibj. Beneflts in ￿pect of Servi￿ prlor to l January 2012 a￿ provided through the Defined Benefit IDB) Plan with the Scheme. The main benefts for pre 2012 servi￿ were a defined benefit pension of one e￿ht1eth of Final Minimum pens￿nab￿ IrKome for &ich year of Pensionable Servi￿, tc4Jether with additional rnsion in re5Fect of premiums pahd on Pensionable Income in excess of Minimum Pensionable Income. The Scheme, previously known as the Baptlst Ministers, Pension Fund, started in 1925, but was dosed to future ac£rual of defined I￿r£fits on 31 Decemter 2011. Page 21

Perth Baptist Church Notes to the Financial Statements for the Year Ended 31 December 2021 (continued) Artuarial valuation as at 31 December 2019 A formal valuation of the Defined Benefit Plan was I￿rfo￿ed at 31 t>￿ember 2019 by professionally qualifi&l Actuary using the Projected Unit Methcd. The market value of the DB Plan assets at the valuatK)n date was £298 millK)n. The valuation of the DB Plan reveaw a defKtt of assets compared with the value of liabilities of E18million {equivalent to a past Servi￿ funding level of 94%). The Church and the other employers supprsrting the DB Plan are collectively reskK)nsible for funding this deftit. The key assumptions undedyirvj the ValUat￿n were as folkjws: Type of financial assumption RPI price inflation assumpts'on 3.20% CPI pri￿ inflation assumption 2.70% Minimum ￿nSIOnable Income Inc￿aSe$ 3.20% Assumed investment ￿turns Pre-retirement 2.95% PoSt-￿ti￿Ment 1.70% Deferred pension increases Pre April 2009 3.20% Post April 2CK)9 2.5096 Penslon increases Main scheme pensK>n 2.70010 * PoSt-reti￿rnent mortality in &cordance with 80% of the S3NFA aThJ S3NMA tables, with allowar￿e for future improvements in mortality rates from 2013 in line with the CMI 2019 core projections, wlth a long temi annual rate of improvement of 1.75% for males and 1.5% for females, with the core smcKJthing parameter and with additional initial mortaility improvement factor A=0.5%. The next actuarial valuatvJn of the DB Plan wfchin schem￿ Is due to tske pla￿ not later than as at 31 Decemkr 2022. Recovery Plan In addition to the contributions to the DC Plan set out above, Whe￿ a valuation of the DB Plan reveals a deficit the Trustee and the Council agree to a rate of defKiency contributions from thurches and other employers involvthl in the DB Plan. Under the current Recovery Plan dated 30 SepteMtr￿r 2020, def￿￿ncY contributions are payable until 30 June 2026. These contribut￿n5 are broadly based on the employerfs membership at 31 December 2014 and increase annualty in line with increases to Minimum Pensionable Income as defined in the Rules. However, the Trustees aThJ the Council agreed a 50% reduction for all der￿DencY contributions payable ￿￿een l Juty 2020 arKI 31 DecemtrEr 2020. Page 22

Perth Baptist Church Notes to the Financial Statements for the Year Ended 31 December 2021 (continued) Movement In Balance Sheet liability Section 28. IIA of FRS 102 requires agreed defKst recovery payffnts to be reccqnised a5 a liability. The movement in the provision is Set out in the table below. 2021 2020 At l January 2021 Deficiery contributions paKI Interest costs (reccgnised in SOFA) Remaining charge to the balan￿ sl liability (recc¥Jnised in the SJFA) 31,250 (5,365) 114 50,016 (3,9S4) 817 At 31 December 2021 Comprises any change In agreed deficit recovery plans and change In assumptlons bet¥veen year-ends. This liability represents the present value of deficit contributions agrJ as at the accounting date and has ien valued using the folkjwing assUm￿n$ set by refe￿n￿ to the durat￿￿ of the defKit recovery payments. 2021 2020 Dlscount rate Future increases tt) Mlnimum Pensionabk I￿oMe During the year the Church m Contri￿￿￿ of £5.365 {2020: £3,954) to the Penskn khemes including defKit contributions. Cessation event At present the Church 15 paying the ongoing deficierKy contrubution oudined ab)ve and the balan sheet liability atM)ve is based on those defKiery contributhxts. H￿eVer, the Pension Scheme Trustee has the right to quanttfy and seek payment of the debt at any time. Defined contn"bution pension ￿￿erne Additionally the Church contributed to a defined cOntribut￿n Fens•)n scheme. £5,20812020: £5,022) has bn charged to the Statement of Finanaal Activities in the year to which payments relate. Page 23

Perth Baptist Church Notes to the Financial Statements for the Year Ended 31 December 2021 (continued) 14 Funds other r•cognlMd gaIns1{￿$S•sI B•ln¢ at I J•nu•ry 2021 IncomSng 8OUfC •xpend•d Tianslws •rnber 2021 Unr•slrfct¢d fvnds Gener* Fund IM,187 189.946 12CpJ.0731 122,806 Capital Fello￿lip Fund p￿$￿)￿ Fund 1.225,856 12,300 13,$541 (J,$431 J14 1,234.602 1,543 1209 483 Total unrestrlct•d lunds 1338 793 202 246 1332 289 Restrfrt•d lundi CAP Fund OpÈn Clrde Jmond Tree Cafe 730 216 22 730 1351 241 15 Under F￿e Hdlday @ Home Frth￿se ythwLX)d 9KYL Young adults 5.925 110,2771 4,352 2.556 637 976 2,556 1,064 1,657 427 4,OY 13,3731 Totsl Yethbcted fund% Totsl L 343 936 218976 1338 552 Page 24

Perth Baptist Church Notes to the Financial Ststements for the Year Ended 31 December 2021 (continued) at i l•nce •t 31 ￿￿embr 2020 Trnxf•rn •th6ilhsM61 G¢ner Gewal FMd 132.144 167,389 1147.7911 17,5551 144.187 Dwlgnat•d Cakqtsl Fund FdTh¥5hip F￿1 per￿ Fu 1,228,srJ 137 12.717) 1.225.856 817 Total unrestrlrt•d 1310 838 1338 793 R•strl(t•d fvnds CAP Fund Oren Orde Tree C Ffve 740 331 626 {io) 11501 730 216 22 35 6.134 18,6181 12531 16691 14.7911 1484 Hdtsjay Fcthse Jme 2,749 2.556 637 976 210 Shoet#Jx Yw ad￿S Tot•1 r#irlcW lunth Tot•1 fundi 1343 936 Page 25

Perth Baptist Church Notes to the Financial Statements for the Year Ended 31 December 2021 (continued) The specific purposes for which the funds a￿ to be applièj are as follows.. The C4P fund represents donations received to assist in the work of Christsns Agalnst Poverty within the Perth area. Other restricted funds rep￿sent balan￿ held by groups that are run within the Church. The designated capitsl ftjnd ￿presents the book value of the fixed assets. The fellowship fund may be used by the minister to provide assistan￿ to anyone whom he thinks is in need of it. The recipients of the fund are not to be disclosed. 15 Analysis of net assets between funds Unrestricted funds General Designated Restrirted Total funds funds 2021 Other Tangible fixed assets Current assets Current liabilities Provisions 1,223,840 1,223,840 143,586 114,517) 25,119 137,323 {14,517) 6,263 25,119 Total net assets 122 806 1223 840 1327 790 Unrestricted funds General Designated Restricted Total funds funds 2020 Other Tangible fixed assets Current assets Current liabilities Provisions 1,225,856 1,225,856 157,046 (7,716) 151,903 (7,716) 5,143 Total net assets 1225 856 1343 936 16Analysis of net funds Ati January 2021 At31 December 2021 Financing cash flow5 Cash at bank and in hand 149 278 140 474 Net debt 8,804 140 474 17 Related party transactions The￿ were no related party transactions In the year. Page 26