Scottish Charity No. SC008676 LRnwood Baptist Church Trustees, Report and Financial Statements Year Ended 31 December 2023 l+P Innes & Partners ChartSd Certified AE¢ountants
Linwood Baptist Church Con¢¢nts ofthe Finaneial Statementsfor iheyear ended 31 December 2023 Report of the Trusiees Rewrt of the Independent Examiner Receipts and Payments Account Statement of Ba]anc¢s Notes lo the Financial Statements
Linwood Baptist Church Report of the Trusteesfor IhÉ year ended 31 December 2023 The Trustees are pleased to present their report together with the financial stat¢ments of the church for the ycar cnded 31 December 2023. Status ofchArity and governing document Linwood Baptist Church is established by Constitution and is a registered Scottish Charity (No. SCOO8676). The charity plan lo Change its legal forni to a Scottish Charilable Incotyorated Organisalion (SCIO) from I April 2024. It was regist¢r¢d &8 a SCIO on 15 November 2023. The charity is in th¢ proccss of being wound up and will transf¢r all of ils assels wid liabilities to Linwood Baptist Church SCJO (SC052949). Bankers Virgin Money I Causeyside st¢t Dunn Square Paisley PAI IUW Aims And aftfiliatlo The aims of the church are in line with its Mission Statement - "The makin¥ and mdiuring oldisciples OJ Jest4J Chris1 in ihe power of ihe Holy Spirii ro ihe glory of God,. The church is affiliated to ihe Baptisl Union of Scotland. Trustees and Office LleArera The Church is congregational in policy and its day to day running is undertaken by the OtTice Bearer& (Ihe Trustecs) and the Deacons Court. The Office Bcarcrs who scrvcd during th¢ ycar and to the date of this port were as follows: Truslees Church Cowhdl.. Deacons The church building held by the Church is in the name of the current Trustees togeiher wilh the cutrent General Director, Finance Director and Convenor of the Union. 'I'h¢ mans¢ held by the Lhurch is in the name ot. the cuent Trustees,. there is a reversionary clause in favour of the Union in the event of the cessation of the Church. Appointmenl of Trustees New Trustees are nominated for appoinlmenl by the existing Trustee5. There is no fix¢d t¢rtn for Trusteeship. Prior to their appointment, new TTUSt¢es would hav¢ served the chUh for some time in various roles and would be familiar with the church's valiies, its aims and objectives as well as it5 day-t day operations. As part of their induction progrnmm¢. new Trustees are required to understand their statutory responsibilities. Page I
Linwood Ba tist Church Report of the Trusteesfor the year ended 31 December 2023 A¢hievements alld perforrnance The ehur¢h meets together in the building for Sunday Morning services and monthly evening services. During the week, the Pastor, members & friend5 can participat¢ in an onlin¢ prnycr meeting by using th¢ ZOOM f&¢ility. The Pastor also Iransmits liis s¢rmoiis to mcmbcr5 and fricnds who arc unable to attcnd Sunday services by ulilising FdLebook aiid Whal's app. Other evellts of note include the following: In relation to Communlty Focus¢d A¢livities.' The church continues lo be used for a community health project. Thi5 health group me¢tg once a week. The church is also used by a Craft group which meets once a week. The church is open once a week for most of the year io provide a plaee and tirne where Fople can meet, enjoy warmth & hol food. The Pastor visits nearby Mosswood Care Home on a monthly basis to conduct a short service. In relation to fuDding- The total income for the current year has decreased compared to last year. FlnanclAI review Prirtclpnlsouree$ olfundlng The church receives its funding from church members and friends by way of w¢¢kly off¢rin8S And Gift Aid donations, and in the past year from grants paid by Rcnfrcwshire Council for the 5CIfIC puryose of helping to fund the weekly meeting facility for people in the community. Res4lisfor theye(Ir As a r¢5uIt of a deficit for ihe year of £1,119 (2022.. surplus of £11,391). tot81 reserve% &t 31 t)ecemb¢r 2023 amounted to £16.311 (2022: £17.430). The general fund at 31 t)ecember 2023 amounted lo £14.800 (2022.. £17.119) and the reslricled fiind amounted lo £1.511 (2022: £311). The Trnstees eontinue to ¢n¢ourage the membership to maintain & increase their giving where possible at the Annual Business Meeting. Reserves It is the policy of the ch(Irch to maintain unrestricl¢d funds. that is. funds not Committed or invested in fixed assets, at a level which equates to approximately three month's unrestricted expenditure. This allows gufficient funds to enable the ongoing work of the church lo be maintained. Th¢ unrcstrictcd Gcncrnl Fund on pag¢ S aiid note 5 at 31 Dccemb¢r 2023 amounlcd to £14,800 (2022- £17,119) and was at thc required l¢v¢l. nn behAlf nf th¥ Triiqlem Dated: 23 2024 Page 2
Linwood Baptist Church Report of the Independemt Examijher to the Trusteesfor the year ended 31 December 2023 l rnport on the acwunts of the church for the year ended 31 December 2023 which are sd out on pages 4 to7. Respective responsibili¢ie8 of trustees and examiner The Charity's Trustees are responsible for the preparation of the accounts in accordance with the ternis of the Charities and TNstee InvestJnent {Scotland) Act 2005 and the Charitie5 Accounts (Scotland) Regulations 2006 (as amended). The Charity's Tnjstees consider that the audit requiTemellt of Regulation l O{ l ) (d) of th¢ Accounrs Regulations does not apply. It is my responsibilty to cxaminc the accounts &s quired under section 44(1) {c) oftlie Act and to stale wh¢th¢r particular matters have come to my atteiilion. BA818 of independent examlner's statement My examination is cgtTied oul in accordance with Regulation I l of the Charities Accounts (Scotland) Regulations 2006 (as amended). An examination in¢ludes a r¢vi¢w of ihe a¢¢ounting records kept by Ihe charity and & comparison of the accounts presented with those records. 1¢ a150 includes consideration of any unusual items or disclosures in the accounts. and seeks cxplanations from the trustces conccrning such matters. The pr(Kedures ulldcrtaken do not provide all the ¢videnc¢ Il)at would be requir¢d in an audit. and onsequ¢nily I do nol express Lffi audit opinioi) on the view given by ihe acLounts. Independeni F.xamlner'g Statement In the course of my examination, no mAtter has come to my attention which gives me reasonable cause to believe that in any m&terial respect the requirements.. to keep accounting records in accordance with Section 44(1) {a) of the 2005 Act ]d Regulation 4 of the 200(J AILvuiits Rcgululiuiis (db ani¢nd¢d). and ro prepare accounts which 8ecord with the accounting records and comply with Regulation 9 of the 2006 Accoiinls Regulations (as amended) have not been meL or 2. to which, in my Opinio attention should be drawn in order to enable a proper undct3tanding of the accounts to be reached. Ire(. Innes & Partners Lim it¢d Chartered Certified Accountsnt5 Innes House 18 Shairps Business Park Houstoun Road Livingston EH54 5FD Date: 2024 Page 3 l+P Innes & Partners Chartered Certified Accwntants
Linwood Baptist Church R¢¢eipt5 and PYdym¢nt$ Ac¢ountfor ihe year ended 31 December 2023 Notrs GenerAI fund Restricted rund 2023 Totsl 2022 Total Receipts General offerings Gift Aid offerings Gift Aid tax rebates Gifts Grants Interest 4,051 18.830 4.841 6,266 4.051 18,830 4,841 6266 4,000 113 5,135 27,015 7,412 10,439 4,000 113 15 Total recelpts 34,101 3&101 50,016 PAyments Staff costs Manse exp¢nses EltrICity and gas JnburdnLe5 Jifts and donations Maintenance Mis¢¢ll&neou5 expenses Ir)dependenl Examiner's fee Professional fees Professional fee5 re forrnatiork or scio Licence fee 26,319 1.714 403 2.415 266 2,484 415 630 766 745 263 26,319 1,714 3,203 2,415 266 2,484 415 630 766 745 263 30,084 ,674 2.655 2J09 316 2,800 92 690 499 246 Total payments 36,420 2,800 39,220 38,625 Surpluyl(Deficit) for ihe year Total funds brought forward Total funds carrled forwY4rd <2,319) 17,119 14,800 1,200 311 {1,119) 17.430 IlJ91 6,039 17,430 1,511 16,311 Page 4
Linwood Baptist Church Statem¢nt of Balances as a¢ 31 December 2023 2023 2022 Opening balanee Deficit for yeAr Closing balance Opening bAlance Surplll4 for yegr Closing bajafjce Bank and e*sh 17,430 (1.119) 16,311 6,039 17,430 Total Assets 17,430 (1.119) 16Jll 6,039 11.391 17.430 Rcpre8¢nted by: Unrestricted fund General fund Restricted funds Reslrictsd fund 14,800 17.119 1,511 16,311 17.430 Ststement of assets (at valuation) Church Manse 600,(KIO 100,000 600,000 i 00,000 700 000 Gift Aid due (estimate) IIMRC- PAYE 4,629 3,557 I,S41 Stat¢m¢nt of liabllltiej Independent examin¢r'5 f¢¢s Profe55ional fee5 690 132 270 630 245 HMRC - PAYI 875 The financi815taiements on pag¢s 4 to 7 were approved by the Trustees on signed on their behalf by the undernoted,. 23 2024 and 7ru.ftee Page 5
Linwood Baptist Church Notos to the fthallcial statement¥for ihe year ended31 December 2023 Aeeounting Wblicies The fiDarKial 5tatcmcnt5 have been prcparcd under the historical c051 convention. and in a¢¢ordance with the Charities Accounts (Scoiland) R¢oulations 2006 las amended). Basis offinancial stolements The financial stalenKnts have been prepared on a receipts and yMentS basis. Church income All Yoluntary in¢ome. in]ne from lax rc¢ovcrics on Gift Aid and bank inlcrcst is ACcnIcd for when received. Reeeipls andpdyments aceojnl For the purpose of the Receipts and payrnents account as sk>wn on pe 4. funds are defined as follows- Unre$trlcted funds comprise grants and other incorne Teceived for the objects of the church without further specified urTh)sc &nd arc availablc as 2¢n¢ral fun(ts. Kestrieted funds comprise income which has been received tor the obje¢ts ot. the church And specified for & restricted DufLK)se within these obiects bv the donor. 2. TraDSgCtSon% with Trustees There were no tranCtI()nS with t Trllstees during the year tlIng 31 tkcember 2023 (2n22.' nil). The Minister is a trustee and his remuneration is disclosed below. This was in connection with his pastoral worL not his role as a TrI18te,e. J. StatTcost$ And numbers 2023 2D22 GrL)ss salary and employers Nl Pension contributions Penqion deliciency contributions 22,944 3.363 12 24,551 2,850 2,683 30,n84 26J19 Th¢ av¢rage number ofemployees duTing ihe year was l (2022.. 1). 4. Glfts and donatlons Genergl Restrlcted nds rund8 Total 2023 Tolal 2022 Baptist Union of Scot18nd Baptist Union of Scotland- Canopy gifl 266 266 206 50 266 266 316 Page 6
Linwood Baptist Church Notes to the financial Statementsfor ihe year ended 3J December 2023 UTrrestrl¢tsd funds Bl#nte at 01.01.23 Receipts Balanee 8¢ 31.12.23 Payrn¢nts G¢nernl fund 17.119 34,101 (36.4201 (36.420) 14,81N) Total unr¢slrlrt¢d fund5 17,119 34,101 I4,81 The Generalfund encompasses all income and expenditure relating to the primary focus activities of the charity. Restricted funds BAl8n¢e gt 01.01.23 Rectipls Balance 41 31.12.23 PAymemts Colle¢iions for third parlies Worm spaces fund Tot81 restrleted futhds 311 1,200 4,000 4,000 12.$00) {2,800} The CollÉclion5lor ihirdparliesfund represents MeY donated by ihe Congregation for 8 specific third yarty. The Warm spacesfuthl represents money received for the provision of a warni space for people in the ¢ommunity. Pension obligation$ Th¢ chUh 15 a participatin8 employcr thc Daplist Pension Scheme {Yhe Scheme"), which is U 5¢PArate l¢gal ¢ntity adininislered by the Pen5iun Tlusice (Bip¢is1 P¢nsiun Trus1 Lirnil¢dl. The assds of the SLheme are held sq)aralely from (hose ofihe Employer and the other participating employers. The S¢hem¢. pr¢viou51y known as the Baptist Ministers, Pension Fund, stY4rted in 1925, but was closed lo fijture accrual of defined knefits on 31 December 2011. Prior to this date the main benefit providcd through th¢ tkfincd Bencfit IDBI Plan was a p¢nsiui of une ¢ighii¢th or rinal minimum P¢Dsiviiabl¢ iiicoriie for each year of pcnsiollable service 108ether with addiiional pension in respeci of premiums paid on Pensionable Income in excess of MiniTlluTn Pensi(Trnable Income. Since l January 2U12, benefils have heen provided through a l)efined c.ontribution (tK) Plan. A formal valuation of Ihe DB Plan as ai 31 DttYmb¢r 2019 by a professionally qualified ALtuary using the Prujecled Unit Meth(NJ. At the valuation date the rnarket value of the DB Plan assets was £298 million. whilst the level of ossets needed to pay benefit5 was £316m, giving a defieii of £18m (eqtiivalent to 8 past service fvndirg level of 940/D). The Chur¢h and the other participating employers in the DB Plan are collectively responsible for fjJndin8 this defi¢it. The next a¢tuari81 valuation of th¢ DB Plan within the Scheme 13 duc to1ok¢ pl&cc not lal¢r than as at 31 December 2022. (M 30th June 2022 the Baptist Pension S¢heme signd an 8gr¢ement with the insurance company Just Group I"Just") to secure DB Plan members, pension benefits. Just are now providing financial backing for all pensions provided through thc S¢hcmc's DB Plan and following this transaction, thc Schcmc no longcr ha5 a shortfall. An updatcd RecOVry plan was then 518iied in August 2022 uiider which rttovery conirltionS from each pariicipaiing employer in the DB Plan rUCed to £1 per month from August 2022. As there is a large nurnr of contribLtting ¢mploy¢rs participing in the Scheme. Ihe Church is unable to identify its share of the underlying assets and liabilities of the scheme. Accordingly. due to the nature of the Scheme, the profit and10ss eharge for the period represents the empl¢)yer contributions payable. The total pension Cost for the Church is £12 (2022.. £2.683). The Wbnd-up phase of the DB Plan was formally triggered by the Trustee and BUGB on 31 March 2024 anticipating Ily c(xnpl¢ting th¢ work to wind-up the DB Plan in 2025. Page 7