Charlty registration numbèr SC045672 {Scotlandl CARNOUSTIE BAPTIST CHURCH ANNUAL REPORT AND UNAUDrrED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 CARNOUSTIE BAPTIST CHURCH LEGAL AND ADMINISTRATIVE INFORMATION Trusteès Charity number SC0456n Principal address Independent examiner Bankers Bank of Scntland 1 D High Street Camoustie DD7 6AN Pagè Trustees, report Independent examiners report Ststernerrt of finanaal activities Balance sheel Notes to the finanaal statements 6-13 CARNOUSTIE BAPTIST CHURCH TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2023 The Injstees present their annual report and finanual statements for the year ended 31 Marth 2023. The accounts have been prepared in a¢￿rdance with the a(xounting poliues set out in note 1 to the accounts and oomply with the Churth's ￿nstitution, the Charibes and Trustee Investment Iscotlandl Act 2005, the Charities Accounts (Scolandl Regulations 2006 las amendedl and "Accounting and Reporting by Charities". Staternent of Recommended Practice applicable to chartties preparing their accounts in accordance w¢th the Finanaal Reporting Standard applicable in the UK and Republic ol Ireland {FRS 1021° las amended for awunting periods commencing from 1 January 20161 Objectives and activitres The Churth's purposes I'lhe Purposesl are the advancernenl of the Christian faith primarily in Camoustie and also throughout Scouand and the rest of the Worfd by all means consistent with the teachings of tre Christian Bible. including worship, ministy. mission, prayer, witness. education, community seNce and the support of agencies and indiwduals and other charitable organisations involved in Christian missionary work and the relief of poverty or other soual needs. The trustees have paid due regard lo guidanr£ issueil by the Charrty Commission in de(yding what acb"vities the Church should undertake. Achievements and performance The Church has sought to fulfil its purpose through regular Sunday worship seNces, induding preaching whid) seeks to be consistent wff(h the Btble. Groups for teathing and prayer, and Sunday School, have continued to 311ow leaming, encouragement. and prayer togethw. The thurth has also sought to share our Christian faith through the daily lives of its members and other means. irKJuding the Manna project and Cafe. seeking to meet material needs wthin the wider communty. We have c￿tinued to support Chrisban missionary and relief work overseas through prayerful and financial sUPPOrt to BMS Missicffi. Comfort Irrtematbtifi￿. Vision Romani8 and Open Doors. Financial review wrth assistance of Central Baptist Chijrth we continue to meet our goals in respect to setf-sufficiency and providing donations to needy causes both local and worfdwide in ac[x)rdan￿ wth our objectives as 8 chur¢h. Jt is the policy of the Church that unrestricted fvnds whith have not been designated for a specific use should be aintained at a level equivalent to be￿een three and six month's expendituiè. The trustees considers that resetves at this level will ensure that, in the evenl of a significant drop in funding. they will be able to continue the Church's wrrent actiwties while consideiation is given to ways in which additional fvnds tnay be raised. The Church is almost at this level. The trustees have assessed the major risks to which the Church is exposed. and are satisfied that systerlls are in place to mitigate exposure to the major risks. Structure, govemance and managemènt The Church is a registered charity tKS. SC045672 and is set up under a ￿nst￿Ul10￿ dated 30th July 2014. The IrLislees bvho served during the yeai and up to the date of signature of the finanaal ststements were". The Tru5te&s of the churth are appkjinted at theA.G.M. by the members of the churth. CARNOUSTIE BAPTIST CHURCH TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 The Church is congregational in rts fottn of govemment. wtth significant deasions made by the thurch membership. This Indudes appointment of Trustees (those persons hawng general control and managemerit of Ihe administration ofthe Church) and office bearers la Pastor, rf any, Seuetary and Treasurer) and of deacons to assist wth the practical and spiritud overS￿ht of the Church. Ststement of trustees. responsibilities The trustees are responsible for preparing the Trustees. Report and the finanaal statements in acthrdan¢e wlh pplieAble law and United Kingdom Accounting Standards (Unrted ￿ngdoM Gènerally AcrEpteiJ Accounting PTacti￿1. The law appliG3ble to chanties in Swuand requires the trustees to prepare finanaal statements for eath finanaal year which gwe a true 2nd f31r wew of the state of affairs of the ChuTth and of the incoming resources and application tsf resources of the Churth forlhat year. In preparing these finanaal stalements, the trustees are required to= - select suitable accounting wlicies and then appty them rx)nsistently.' - observe the methods and prinuples in the Chariti'es SORP- - make judgements and estimates that are feasonable and prudeni.. state whether applicable acrA)unting standards have been frAlowed, subject lo any material departures disdosed and explained in the fin3naal staternents". and prepare the ffinanaal statements on the going con￿rn basis unless tt is inappropriate to presume that the charity will continue in operation. The trustees are responsible for keeping SLtffiuent accounting recA>rds that disdose with reasonable ac£uracy at any time the finanual posttion of the Church and enable them to ensure that the finanaal statements comply with Ihe Charities and Trustee Investsnent Iscotlandl Act 2005, the Charities Accounts (Scotlandl Regulations 2006 (as 8mèndedl and the prowsions ol the trust deed_ They are also responsible for safeguarding the assets of the Church and hence for taknng reasonable steps for the prevention and detection of fraud and other irregLJlarities. trustees, report was approved by Ihe Board of Trustees. D*d". 4 W 2023 CARNOUSTIE BAPTIST CHURCH INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF CARNOUSTIE BAPTIST CHURCH I report on the finanual statements of the Churth for the year ended 31 March 2023, whith are set out on pages 4t013. Respecb"ve responsibilities of trustees and examinèr The Church's trustees are responsible for the preparation of the finanaal statements in aCurdan￿ with the tems of the Charities and Trustee Investtnents (Scotlandl A($ 21)05 and the Charities A￿UnIS (Scotlandl Regulations 2006. The charrty's truslees consider that ihe aud¥t requirement of Regu131ion 1011llal to Icl of the 2006 Accounts Regulations does not appty. 11 is my reswnsibilrty to examine the financjal statements as required under se¢tion 4411){cl of the Act and to st*e whether pattiunts have been prepared in accordan￿ wth Ihe Churd)'s constitution, the Charities and TTUStee Investrnent (Scotlandl AIX 2(M)5, the Charities Accounts ISrx>Uand) Regulations 2006 las amended) and -Accounting and Reporting by Chatities." Statement of Recommended Practice applicable to charities preparing their accounts in acts)rdan￿ with the Finanaal Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021- {as amended for accA)unting periods cornmenryng from 1 January 201fj1. The ChLJrd) is a Public Benefft Entty as defined by FRS 102. The Church has taken advantage of the prowsions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Ststement of Cash Flows. The finanaal statements have departed from the Charrties IA(£ounts and Reports) Regulations 2008 only to the extent réquirèd to pro￿de a true and fair View. This departure has involved following the Ststement of RecA)mmended Practice foi tharities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the ReguL4tions but whith has since been withdrawn. The finanual statements a￿ prepared in sterfing. whith Ès the functional of the Church. Monetary amounts in these financial Statements are rounded to the nearèst £. The financial statements have been prepared under the histori￿1 c4)st (xjnvention. The principal ac£ounting poliryes adopted are set out below. 1.2 Gorng con¢em At the titne of appromng the finanryal stslernents, the tnjslees have a reasonab￿ expectation that the Church has adequate resources to continue in operational exstence foi the foreseeable fLrture. Thu5 the ttustees continue to adopt the going concern basis of aruunting in preparing the financial statements. la Charitsblefvnds Uniestricted ftsnds are available for use at the discretion of the tDJstees in furtherance of their charitable objectives. Restricted fvnds are subject to specific conditions by do¢￿rS as to h(M they may be used. Thè purposes and of the restricted funds are sel out in Ihe noies io the finanryal statements. 1A knming reSou￿e$ is rècognised when the Churth is legally enttiled to rt after any perfarmance condrtions have been the amounts G3n be measured reliably. and ti Is Probable that income wll be received. &￿atr.￿n$ are recognised on receipt. Other donations are recognised once the Church has been J of the donation, unless performanr£ conditions require deferral of the amount. Income tax relation to donations Teceived vr￿eT Gift Aid or deeds of cxjvenant is recognised at the limè of Lw5 ￿ ietwnised on receipl or otherwise tr the Churth has been nottfied of an Impending distribution. •E is kn(Avn. and receipt is expected. If the amount is not knovm, the legacy is treated as 8 CARNOUSTIE BAPTIST CHURCH NOTES TO THE FINANCIAL STATEMENTS {COPfflNUED) FOR THE YEAR ENDED 31 MARCH 2023 Accounling policies {ContinLbedl 1.5 Resources expended Expenditure is recognised once there is a legal or (x)nstructive obligation to transfer ￿efft to a third paty. it is probable that a transfer of e￿n0￿1¢ benefits will be required in setuement. and the amcHJnt of the obligation can be measuied reliabty. Expenditure is dasstfied by actmty. The costs of each aCti￿ty are made up of the total of direct costs and shared costs, induding support costs involved in undertaking ea(*t acti￿ty. Direct costs attributable to a single actiwty are allocated diredly to that athty. Shared cosls which wntribute to more than one activity and support costs which are not attribLrtable to a Single actiw are apportioned belween those activities on a b3SIS consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and deprecJation charges are allO￿ted on the portion of the asset's use. ExpenditUTe is tharged to the revenue a(xx>urrt ￿ an acuuals basis. 1.6 Tangible fixèd assets T8ngible fixed assets are inTttalfy measured at c£Jsi and subsequenuy rneasured at cost or waluation. net of depreoalion and any itnpairmènt losses. Depieaation is recognised so as to wrtte off the (xjst or ¥a￿ation of assets 1è5S their residual values over their useftjl lives on the followng bases- Freehold land 2nd buildings Fixtuw and fith'ngs 15°A Rgjuoyng bal The gain or loss arising on the disposal of an asset is dete[rnIn￿ as the drfference bets¥een the sale proceeds and the carrying walue of the asseL and is reo)gnised in the statement of finanoal acal￿ties. 1.7 Impaimient of fixed assets At each reporting end date, the Church review5 the G3rwng arnounts of rts tangible assets to determine whether there is any indution that those assets have SLrffered an impairment loss. If any such Indication exists. the recoverable amount of the asset is estimated in order to detemine the extent of the irHpaitment loss Irf any). 1A Cash and cash equivalents Cash and cash equwalents indude CAsh in hand. dep05rts held at call wtth banks, other short-term liquid investments wth original maturities of three months or less. and bank overdrafts. Bank overdrafts are shown within borrowings in wrrent liabil￿e$. 1.9 Financial instruments The Church has elected to apply the pio¥isions of Section 11 'Basic Finanaal Instruments, and Se(*"on 12 '(Xher Finanual Instnjments Issues. of FRS 102 to all of its finan(xal instruments. FinanThal in5trurTrents are recognised in the Ghurth's balance sheet when the Churth becomes party to the contractual pro￿S1onS of the instrument. Finanaal assets and liabilitiès 2rÈ offsèt. wrth the net amounts presented in the finanual stalemenls. when there is a legally enforceable right to s* off the recognised amounts and there is an intention ta settle on a net basis or to realise the asset and settle the liability simultaneously. CARNOUSTIE BAPTIST CHURCH NOTES TO THE FINANCIAL STATEMENTS {CONTINUED FOR THE YEAR ENDED 31 MARCH 2023 Accounting policits Icontinuèdl Basic financialassets Basic financial assets. which indu¢Je debt0￿ and (3sh and bank balances, are initially rneasured at tsansaction price including transaction costs and are subsequently carried at amortised cost using the effectNe interest method unless the arrangement txbnstitLrtes a finanang transaction, where the transaction 15 measured at the present value of the futu￿ receipts discDunted at a market raie of interest. Finan￿al a55e15 dassified as re￿1Vable within one year are not arnortised. 8asi¢ financial liabilities Basic financial liabilities. induding ueditors and bank k>ans are inttially recdognised at tr8nsadion price unless the arrangement constitutes a finanang transaction. where the debt instrurnent is ffleasuied at the present value of the future paytnents discounted at a ma¥kel r*e of intetesl. Finanual liabilities cjassified as payable within one year ale not 3mortised. Debt instruments ale subsequently (xrrieil at amortised cost, using the effective interest rate methi)d. Trade creditors are obligations to pay for goods or senri¢xs th* have been acquired in the ordiliary course of operations from suppliers. Amounts payable are dassified as curTent liabilities if payment is due within one year or less. If not, they are prèsented as norFcurrent liabilities. Trade ueditors are recognised inib.ally at transaction price and subsequently rneasured at amortssed cost using the effective interest method. Derecognition of financialli3bilitres Finanaal liabilrties are derecognised when the Church's contraciual obligations expire or are discharged or e3ntElled. 1.10 Employee benefits Thè cost of any unused holiday entiuemenl is recognised in the pericwd in which the employee's seTrices are received. Temiination benefits are recognised Immediate￿ as an expense when the Church is demonstrabty committed to teminate thè employment of an employee or tr) provide temination benefits. 1.11 Retirement benefits Payments to defined contribution retirement benefft sthernes are tharged as an expense as they fall due. Critical accounting estimates and judgements In the applicatton of the ChL£rth's arLounting p(Jiryes. the trustees are required to make judgements, estimates and assumptions about the carying amount of assets and liabtlib.es that are not readily apparent from other sources. The estitnates and asswlated assumptions are based on historir21 experience and other lactors that aTe considered to be relevant. Actual resvtts may differ from these estimates. The ￿￿"mateS and underfying assumptions are re￿eWed on an ongoing basis. Rewsions to accounting e5tirnates are recognised in the period in vthith the esb"rnate is remsed where the revision affects only that or in the period of the re￿￿On and ftrtUTe periods where the remsion affe(*s both current and future <00 Tr- IOOOT ) ro pj CARNOUSTIE BAPTIST CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 Ixwtsading activities Unrestricted Unrestricted rEds funds 2023 2022 1.838 788 Restricted Restrltted funds funds 2023 2022 ivable 32 (Jwitable activities 2023 2022 k&xsiers Stipend & Pension t*(￿3a￿On and impairment 1tr•5ters Mileage, Telephone & OtherMlowances IlTh Rent & Rates 19.746 277 744 13,017 1,071 2,543 14,276 487 1.517 6.518 204 19,046 1,034 12,939 1.098 806 6,596 502 1.378 4,￿0 2,1 130 367 Fkal & Light Repat5 Fl*xt Supply Fees & Subscriptions F*LknMJnal Fees Fth7*51w Fund 289 60,689 50,992 19901 61,779 50.002 10- CARNOUSTIE BAPTIST CHURCH NOTES TO THE FINANCIAL STATEMENTS (ccxr• FOR THE YEAR ENDED 31 MARCH 2023 T￿Stee$ is a Trustee of Camoustie Bayb"st Churth. Camouslie. kn fE of '. £16,400) and pension rA)ntribubons of £2.646 12022". 4lwE Il*. Telephone and Pulpit supply expenses of £744 {2022- £1.0331. Employees The average monthty number employees thÈ year was." 2023 Nutnber Employmènt costs 2023 2022 Wages and salaries Other pension cx)sts 17,100 2.646 16,41)0 2,646 19,746 19,046 Taxation The charity is exempt from tax on in(x)me and gains falling V￿1n seckn of the Taxes Act 1988 or section 252 of the Taxationof Chargeable Gains Act 1992 to the extent that we aFpSed to tis tharitable objects. 10 Tangible fixed assets Frpehokl land Fixtyres and and buildings fftllng$ Total Cost At 1 April 2022 Additions 14.240 14,240 At 31 March 2023 14,240 16,084 Depreciation and impairment Depieciation charged in the year 277 277 At 31 Marth 2023 277 277 Carying amount At 31 March 2023 14,240 1.567 15,807 At 31 March 2022 14.240 14,240 11 CARNOUSTIE BAPTIST CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 11 Debtors 2023 2022 Amounts falling due within one year. Other debtors Prepayments and acuued income 695 897 763 879 1,592 1.642 12 Creditors: amounts falling due within one year 2023 2022 Other taxation and S￿al sÈ