2025-03-31-accounts - Viewfield Baptist Church SCIO

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Viewfield Baptist Church Annual Report and Accounts Year Ended 31 March 2025 Scottish Charity No. SC050750

Viewfield Baptist Church

Contents of the Financial Statements for the year ended 31 March 2025

	Page
Church information	1
Trustees’ Annual Report	2-4
Report ofthe Independent Examiner	5
Statement of Receipts and Payments	6
Statement of Balances	2
NotestotheFinancialStatements	8-16

Viewfield Baptist Church

Church Information for the year ended 31 March 2025

Trustees

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Principal Address

Viewfield Baptist Church 2 Viewfield Terrace Dunfermline Fife KY12 7HZ

Web Site:

www.viewfield.org.uk

Bankers

Bank of Scotland 1 Bothwell Street Dunfermline Fife KY11 3AG

CAF Bank 25 Kings Hill Avenue Kings Hill West Malling Kent ME19 4JQ

S olicitors

Alan Holloway Solicitor & Notary Public Diakonego Legal Services Limited 48 Speirs Wharf Glasgow G4 9TH

Independent Examiner

Certified Chartered Accountant Priory Accounting & Tax Ltd 5 Luscar Place Gowkhall Dunfermline KY12 9RB

Viewfield Baptist Church

Trustees’ Annual Report

The Trustees are pleased to present their report together with the Accounts of the church for the year ended 31 March 2025.

Status of Charity and Governing Document

Viewfield Baptist Church (SCIO), SC050750 is a Scottish Charitable Incorporated Organisation that has been set up to replace the previous Charitable Organisation, Viewfield Baptist Church, SC006526, on 4[th] February 2021. It is governed by the SCIO constitution and regulated by the Office of Scottish Charity Regulator (OSCR)

Previously, the church’s affairs were operated by Viewfield Baptist Church (“the church”) which was established by Constitution and is a Scottish Charity, No. SC005626.

Consent was given by the Office of the Scottish Charity Regulator (OSCR) on 1 July 2021 to wind up the charity including the transfer of assets to the SCIO. The winding up process was completed in June 2023.

Aim and Affiliation

The Vision Statement (aim) of the church is “ to enable people to become fully devoted followers of Jesus Chris t.” The church is affiliated to the Baptist Union of Scotland.

Office Bearers and Trustees

The church is congregational in its method of government. The administration of the church’s business is undertaken by the Pastor and Deacons. For the purpose of charity law, the Trustees are the Pastor and Deacons.

The Trustees who served during the year and to the date of this report were as follows:

Trustees

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The Trustees understood their statutory responsibilities during the accounting period.

Appointment of Trustees

Pastor: he is the person who is called to serve the church as its full time Minister. He receives from the church a stipend and an allowance for the use of his house as a manse along with such allowances as the church may from time to time agree. He is accredited by the Baptist Union of Scotland. The basis of his appointment as Trustee is contained in the church Constitution. He is required to understand his statutory responsibilities as an Office Bearer in the church.

Deacons : church members are nominated and elected for appointment to this office in terms of and in accordance with the procedure set down in a related Statement of Practice. They are familiar with the church’s values, aim and objectives as well as its day-to-day operations. The basis of their appointments is contained in the church Constitution. Since September 2016, all Deacons are Trustees. There is no fixed term for Trusteeship. Prior to their appointment, new Deacons/Trustees would have served the church for some time in various roles and would be familiar with the church’s values, its aim and objectives as well as its day-to-day operations. As part of their induction programme, new Trustees are required to understand their statutory responsibilities.

Viewfield Baptist Church

Trustees’ Annual Report ( continued)

Achievements and Performance

Statement of Achievements and Performance

Over the past 12 months, Viewfield Baptist Church has continued to work, both within its own membership and within the local community as a whole, to fulfil its mission statement “to enable people to become fully devoted followers of Jesus Christ”. The church engages with the community through the work of its many ministries and provides both social and spiritual fellowship together with the opportunity to regularly meet for worship and prayer.

We began 2025 with a week of prayer before our ministries resumed for the year. Our Mission and Discipleship teams have continued to provide opportunities for outreach and discipleship training. An Alpha course was held at the beginning of 2025 alongside Alpha Youth for secondary age young people for the first time. Discipleship Explored ran in the Autumn of 2024 for those wanting to explore faith further. The congregation as a whole has continued to grow as new people choose to join in worship with us and others come to a personal faith. We have witnessed a number of people being baptised across all age ranges. We have seen continued growth in our children’s and youth ministries over the year as new families join us from the community, and other families grow. More young people have also joined us through invitations to attend Alpha Youth and our Friday night youth group.

Zac’s Café, our soft play and sensory room facility continues to be well used. Zac’s continues to be used by families on a Wednesday, Thursday and Friday and is providing fertile ground for building bridges in our local community. At Christmas 2024 we prepared 100 gift bags for our customers. Zac’s continues also to provide a great opportunity for fellowship among the volunteers who serve the ministry. The facilities have been well attended, primarily by families with younger pre-school children with older children using the soft play in the school holiday periods and we have been able to open up the Soft Play for private hires on Saturdays.

On 1 October 2024, after several months of preparation we opened our CAP Debt Centre. Christians Against Poverty is a national charity offering support for those in debt and also offers short small group courses with advice on topics such as budgeting for everyone. Over the year the Centre has helped a number of clients who have been referred through local agencies. The Centre is open officially two days per week.

At our Community Fun day on Saturday 22 June 2024 we opened up the facilities to the community including the Soft Play holding a second hand Toy Sale and offering both a barbecue and cream teas. Other activities included children’s games and face-painting and was a great success even attracting visitors passing by on the street. We also began the month with the annual church camping weekend.

Other regular fellowship opportunities for the membership and beyond have been provided through Brew and Blether (a dementia friendly café) every Monday afternoon, our Tuesday lunchtime Drop-In, ‘Oasis’, and our 18-40s group ‘Fusion’ amongst many others.

Viewfield Baptist Church Trustees’ Annual Report {continued}

Financial Review

Principal sources of funding

The church receives its funding from church members primarily by way of weekly offerings, donations, and Gift Aid donations.

Results for the year

The Accounts for the year ended 31 March 2025 have been prepared on an accruals basis.

The Accounts for the year are set out in pages 7 to 16. Per the Statement of Receipts and Payments on page 7, the church reflects Net Payments for the year (i.e. a surplus) of £32,924 (2024 — 23,467).

Reserves Policy

The Trustees have reviewed our Reserves Policy to take account of increasing costs and the introduction of Zac’s Café. Following the review, or policy is to retain sufficient funds to cover our fixed financial commitments over a period of three months, such as (but not fimited to) personnel, admin, management and building costs. This allows sufficient funds to enable the ongoing work of the church to be maintained. The General Fund {page 7) at 31 March 2025 amounted to £76,263 (2024 - £42,894) which is well above the required level.

Grant-making policy

The church makes grants from its income to individuals and organisations that are generally known to the Trustees and the church. The beneficiaries are involved in activities or ministries compatible with the church’s objectives.

Independent Examiner

The Trustees have appointed Dora Levai CA (Priory Accounting & Tax) as independent Examiner, and recommend that she remains in office until further notice.

This report was approved by the Trustees on 22™ September 2025 and signed on their behalf by:

Viewfield Baptist Church Report of the Independent Examiner to the Trustees on the Unaudited Financial Statements of Viewfield Baptist Church

| report on the Accounts of Viewfield Baptist Church for the year ended 31 March 2025 which are set out on pages 6 to 16.

Respective Responsibilities of Trustees and Examiner

The charity’s Trustees are responsible for the preparation of the Accounts in accordance with the terms of the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006 (“2006 Accounts Regulations”). The charity’s Trustees consider that the audit requirement of Regulation 10(1) (a) to (c) of the 2006 Accounts Regulations does not apply. It is my responsibility to examine the Accounts as required under Section 44(1) (c) of the Act and to state whether particular matters have come to my attention. Basis of Independent Examiner’s Statements My examination is carried out in accordance with Regulation 11 of the 2006 Accounts Regulations. An examination includes a review of the accounting records kept by the charity and a comparison of the Accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeks explanations from the Trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently | do not express an audit opinion on the view given by the Accounts.

Independent Examiner’s Statement

In the course of my examination, no matter has come to my attention

which gives me reasonable cause to believe that in any material respect the requirements:
fo) to keep accounting records in accordance with Section 44(1) (a) of the 2005 Act and Regulation 4 of the 2006 Accounts Regulations, and
° to prepare financial statements which accord with the accounting records and comply with Regulation 8 of the 2006 Accounts Regulations

have not been met, or

to which, in my opinion, attention should be drawn in order to enable a proper understanding of the financial statements to be reached.

Viewfield Baptist Church

Statement of Financial Activities

year ended 31 March 2025

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|||||||||| |---|---|---|---|---|---|---|---|---| |2025|2024| |Unrestricted|Restricted|Endowment|Total|Total| |Funds|Funds|Funds|Funds|Funds| |Notes|£|£|£|£|£| |Income|and|Endowments| |From generated|funds| |Voluntary|income|5|187,170|21,830|0|209,000|223,679| |.,|From charitable activities|6|82,418|0|0|82,418|67,290| |Investment income| |Bank|interest|1,459|0|0|1,459|1,156| |Total|271,046|21,830|0|292,876|292,124| |Total|Income|271,046|21,830|0|292,876|292,124| |Expenditure|on| |Charitable|activities|as|236,837|22,276|0|259,113|266,978| |Independent|Examiner's|fee|840|840|1,680| |Total|Expenditure|237,677|22,276|0|259,953|268,658| |Net Income/Expenditure|and|net movement|33,369|(446)|0|32,924|23,467| |in funds for the|year| |Reconciliation|of Funds| |Total|Funds|Brought|Forward|42,894|16,125|972,556|1,031,575|1,008,108| |Total funds Carried|Forward|76,263|15,679|972,556|1,064,499|1,031,575|

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The notes on pages 8 to 16 form part of these Accounts.

Viewfield Baptist Church

Balance Sheet

As at 31 March 2025

As at 3131 March 2025
			;
					2025	2024
		Unrestricted	Restricted	Endowment	Total	Total
		Funds	Funds	Funds	Funds	Funds
	Notes	£	£	£	£	£
Fixed Assets
Tangible Fixed Assets	4	972,556			972,556	972,556
Investments					-	-
Total fixed Assets		972,556	0	0	972,556	972,556
Current Assets
Debtors	13	5,972	87	0	6,059	6,445
Cash and Bank balances		78,080	15,680	0	93,769	63,551
Total Current Assets		84,062	15,767	0	99,828	69,996
Creditors
Falling Due Within One Year	14	7,885	0	0	7,885	10,977
NetCurrentAssets		76,177	~+*15,767	0	91,943	59,019
NetAssets		1,048,733	15,767	O	41,064,499	1,031,575
The Funds ofThe Charity
Unrestricted Fund		76,263			76,263	42,894
Restricted Funds	12		15,679		15,679	16,125
Endowment funds				972,556	972,556	972,556
Total Charity Funds		76,263	15,679	972,556	1,064,499	—_ 1,031,575

The notes on pages 8-16 form an integral part of these Accounts.

Approved by the Trustees on 22nd September 2025 and signed on their behalf by:

Viewfield Baptist Church aNrNotesicc a_i are to the Accounts for the year ended 31 March 2025 , 1. Accounting policies

Basis ofAccounting

The Accounts have been prepared on an Accruals basis in accordance with the Financial Reporting Standards applicable in the UK and Republic of Ireland (FRS102) issued on 16" July 2014, the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Account (Scotland) Regulations 2006 (as amended).

Taxation

The Church is recognised as a charity for the purposes of applicable taxation legislation and is therefore not subject to taxation on its charitable activities. The church is not registered for VAT and, accordingly, expenditure includes VAT where appropriate.

Purposes of Funds

Unrestricted

The General Fund encompasses all income and expenditure relating to primary focus activities of the church, other than those for which funding is restricted.

Restricted

The Project Fund represents funds which are to be used, following consultation with the church members, for carrying out major projects, for example, related to the church or Centre buildings.

The Specified Causes Funds represent funds which are to be distributed in accordance with the wishes of the donors.

Endowment funds are funds which have been given on the condition that the original capital sum is not reduced, but the income therefrom is used for the purposed defined in accordance with the objects of the charity.

2. Incoming resources

Income is recognised when the Church has entitlement to the funds, any performance conditions attached to the item(s) of income have been met, it is probably that the income will be received by the Church, and the amount can be measured reliably.

Church Expenditure (Resources Expended)

Local Ministries represents expenditure on the church’s weekly activities and ministries.

National and Overseas Ministries represent the church’s giving to other Christian ministries whose activities are compatible with the church’s objectives.

Property and Resources represents expenditure on the upkeep of the church’s buildings.

Governance Costs include those costs associated with meeting the constitutional and statutory requirements of the church and include the Independent Examiner’s fee.

4. Tangible fixed assets

Per the Statement of Balances on page 8, Fixed Assets of £972,556 comprise the depreciated value of the church’s Fixed Assets at 31 March 2025.

Viewfield Baptist Church a ln Notes to the Accounts for the year ended 31 March 2025

5. Voluntary Income

5.	Voluntary Income
					2025	2024
			Unrestricted	Restricted	Total	Total
			£	£	£	£
	Standing Orders& Envelopes		134,856	11,803	146,659	131,931
	Income Tax reclaimed		32,669	2,976	35,645	32,168
	Sunday offerings		4,230	0	4,230	7,620
	Donations		9,258	1,176	10,434	7,139
	Other income		1157	4,600	5,757	19,753
	Grants (incl. JRS)			1,275	1,275	24,675
	Legacies		5,000		5,000	393
			187,170	__ 21,830	209,000	223,679
6.	Income from Charitable Activities
	Café and Room Hire income		82,418		82,418	67,290
			82,418		82,418	67,290
7.	Expenditure on Charitable Activities	Staff	Other Direct	Property	2025	2024
		Costs	Costs	Costs	Total	Total
	Activity
	Local Ministries	147,040	29,849	45,054	221,943	219,504
	National Ministries		15,734		15,734	21,516
	Specified Causes	1,203	21,072		22,276	25,958
		148,244	66,655	45,054	259,953	261,049
		(note 8)	(notes 9&10)	(note 11)
	Ofwhich:
	Relating to Unrestricted Funds	147,040	45,583	45,054	237,677	241,020
	RelatingtoRestrictedFunds	1,203	21,072	ie)	22,276	25,958

‘Viewfield Baptist Church lice A al

Notes to the Accounts for the year ended 31 March 2025

8. Staff costs and expenses

		Pastor	Other	2025	2024
	General Fund	£	£	£	£
	Gross salaries	58,983	70,206	129,189	119,162
	Employer's NIC	3,832	2,196	6,028	5,243
.	Pension costs	4,595	3,420	8,015	12,046
'	Pastor& staffexpenses	3,555	253	3,809	4,241
	Specific Funds
	Drop-in Co-ordinator			0	6)
	Drop-in Co-ordinator Expenses			0	0
	Children & Families Worker		1,203	1,203
		70,965	77,278	148,244	140,692
Theaverage numberofemployees in the year, calculated ona		full time equivalent basis, was4.2 (2024 - 3.9)
Noemployee	employee received remuneration of£60,000 or more during the period.
9.	Local Ministries -(Other Direct Costs)			Total	Total
		Unrestricted	Restricted	2025	2024
	Ministry Costs
	Children, Youth & Families(Youth and Education)	1,954		1,954	2,057
	Fellowship & Pastoral Care (Other ministries)	613		613	1,563
	Pastoral discrection	50		50	0
	Mission (Outreach)	1,822		1,822	1,107
	Discipeship, Worship & Prayer (Training& Discipleship)	3,337		3,337	4,120
	Pulpit Supply			0	0
	Ministry resources			0	0
	Church office costs			0
	Printing and stationery	2,037		2,037	2,190
	Telephone & Postage	1,802		1,802	1,580
	Sundry expenditure	2,790		2,790	1,130
	Trustmanagement			0
	Solicitor	0		0	0
	Other	1,954		1,954	895
	Zac's Café (Centre CoffeeShop ministry)			0
	Café Expenses	12,571		12,571	11,727
	Soft Play/Sensory Expenses	919		919	624
		29,849		29,849	26,992
	Allocated as follows:
	Local ministries	29,849		29,849	26,992
		29,849		29,849	26,992

Viewfield Baptist Church ee ne ee a ee Notes to the Accounts for the year ended 31 March 2025

ee

10. National and Overseas Ministries - (Other Direct Costs)

					2025	2024
		Unrestricted	Restricted	Endowments	Total	Total
		£	£	f	£	£
	Mission costs
	BMSWorld Mission	4,497			4,497	5,343
	AM	0			0	1,050
	Scottish BaptistFund	7,500			7,500	7,200
	Scottish BaptistCollege	1,260			1,260	1,200
	ChrisitansAgainst Poverty	1,200
	Otherdonations	1,276			1,276	6,724
	Specified causes payments		21,072		21,072	21,275
		15,734	21,072	0	35,606	42,792
	Allocatedasfollows:
	National Ministries	15,734			15,734	21,516
	Specified Causes		21,072		21,072	21,275
11.	PropertyCosts				2025	2024
		Unrestricted	Restricted	Endowments	Total	Total
		E	E	£	£	£
	Rates and insurance	4,350			4,350	4,307
	Heatand light	16,319			16,319	25,722
	Water& Sewerage	1,287			1,287
	Cleaning	11,959			11,959	13,914
	Cleaning supplies	120			120	71
	Other running costs	5,306			5,306	730
	Church maintenance	2,631			2,631	3,227
	Centre maintenance	3,082			3,082	3,848
		45,054	0	0	45,054	51,819
	Allocatedasfollows:
	LocalMinistries	45,054	0	0	45,054	51,819

Viewfield Baptist Church Sa

‘

Notes to the Accounts for the year ended 31 March 2025

12. Restricted Funds

Restricted Funds
	Balance at				Balance at
	01.04.24	Receipts	Payments	Transfers	31.03.25
	£	£	£	£	£
ProjectFund	9,907	6,395	3,863		12,440
Specified causes:
BMS BirthdayScheme	225	273	498		0
BMS General Fund	860	410	1,270		0
BMS HarvestAppeal	0	295	283		13
BMS ReliefFund		329	318		11
Drop-in	507	599	648		458
Children & Families	41	1,275	1,203		12
ViewfieldToddlers	70	2,470	871		1,669
Baby/Toddler Soft Play	2,749	1,630	4,379		0
Compassion	1,681	1,869	3,475		75
Vision Romania	85	38	85		38
Staffgifts		600	600		0
Defibrillator		2,523	2,056		467
Zac's Café gifts		353	312		41
CAP Debts centre		2,315	2,227		88
Specified Gifts - Other	0	458	190		268
	16,125	15,436	18,414	0	15,680
Total Restricted Funds	16,125	21,830	22,276	0	15,680
				Movement	(446)

Explanation of Funds

Restricted Funds: There are donor designated funds which must be used for a specific purpose.

Project Fund: represents funds which are to be used, following consultation with the church members, for carrying out major projects, for example, related to the church or Centre buildings.

Specified Causes: represents funds which are to be distributed in accordance with the wishes of the donors.

Viewfield Baptist Church

Notes to the Accounts for the year ended 31 March 2025

					2025	2024
		Unrestricted	Restricted	Endowment	Total	Total
13.	Debtors	Funds	Funds	Funds	Funds	Funds
		£	£	£	£	£
	Income taxon GiftAid	2,791	87		2,878	2,401
	Income due from Room Hire	3,181			3,181	2,491
	Otherdebtor - Prepaid expenses	0			0	1,553
		5,972	87	0	6,059	6,445
					2025	2024
		Unrestricted	Restricted	Endowment	Total	Total
14.	Creditors	Funds	Funds	Funds	Funds — Funds
		£	f	£	£	£
	Independent Examiner's Fee	840			840	840
	Accruals	1,645			1,645	4,657
	Prepaid income	0			0	80
	Pension Liability	5,400			5,400	5,400
		7,885	)	0	7,885	10,977

‘ Viewfield Baptist Church ., Notes to the Accounts for the year ended 31 March 2025

15. Trustees’ Remuneration and Expenses

No Trustees received remuneration nor reimbursed expenses during the year to 31 March 2025 (2024 — Nil) in their capacity as Trustees. Details of salary paidi: his capacity as Pastor are outlined in Note 8 on page 10. See also Note 16.

16. Pension Obligations

The Church is a participating employer the Baptist Pension Scheme (“the Scheme”), which is a separate legal entity administered by the Pension Trustee (Baptist Pension Trust Limited). The assets of the Scheme are held separately from those of the Employer and the other participating employers.

The Scheme, previously known as the Baptist Ministers’ Pension Fund, started in 1925, but was Closed to future accrual of defined benefits on 31 December 2011. Prior to this date the main benefit provided through the Defined Benefit (DB) Plan was a pension of one eightieth of final minimum pensionable income for each year of pensionable service together with additional pension in respect of premiums paid on Pensionable Income in excess of Minimum Pensionable Income.

From January 2012, pension provision is being made through the Defined Contribution (DC) Plan within the Scheme. In general, members pay 8% of their Pensionable Income and employers pay 6% of members’ Pensionable Income into individual pension accounts, which are operated and managed on behalf of the Pension Trustee by Broadstone Corporate Benefits Ltd. In addition, the employer pays a further 4% of Pensionable Income to cover Death in Service Benefits, administration costs, and an associated insurance policy which provides income protection for Scheme members if they are unable to work due to longterm incapacity. This income protection policy has been insured by the Baptist Union of Great Britain with Aviva Limited. [Members of the Basic Section pay reduced contributions of 5% of Pensionable Income, and their employers also pay a total of 5%.]

The Scheme is considered to be a multi-employer scheme as described in Section 28 of FRS 102. Because it is not possible to attribute the Scheme’s assets and liabilities to specific employers, the scheme is accounted for as if the Scheme were a defined contribution scheme.

The Minister(s) [and some members of the church staff] is / are eligible to join the Scheme.

Viewfield Baptist Church Notes to the Accounts for the year ended 31 March 2025

Actuarial valuation as at 31 December 2019

A formal valuation of the DB Plan as at 31 December 2019 was carried out by a professionally qualified Actuary using the Projected Unit Method. At the valuation date the market value of the DB Plan assets was £298 million, whilst the level of assets needed to pay benefits was £316m, giving a deficit of £18m (equivalent to a past service funding level of 94%). The Church and the other participating employers in the DB Plan are collectively responsible for funding this deficit.

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||||||||||||||||| |---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---| |The|key|financial|assumptions|underlying the|valuation|were|as|follows| |Type|of assumption|%| |p.a.| |RPI|price|inflation|assumption|3.20| |CPI|price|inflation|assumption|2.70| |Minimum|Pensionable|Income|Increase|Adjustment|(above|CPI!)|0.50| |Pre-retirement assumed|investment|returns|(gilt|yield|plus|1.75%|pa)|2.95| |Post|retirement|assumed|investment|returns|(including|benefits|matched|by|1.70| |the|insurance|policy)|(gilt|yield|plus|0.5%|pa)| |Minimum|Pensionable|Income|increases|(CPI|plus|0.5%)|3.20| |Deferred|pension|increases|(based|on|RPI)| |Pre|April|2009|3.20| |Post|April|2009|2.50| |Pension|increases| |Based|on|CPI|with|an|annual|floor|of 0%|and|annual|cap|of 5%|2.70| |Mortality was|assumed|in|accordance|with|80%|of the|S3NA|standard|mortality table.| |Future|improvements|projected|from|2013|in|line|with|the|“CMI|2019”|projection|with|a| |long-term|rate|of improvement|of|1.75%|p.a.|for|males|and|1.5%|p.a.|for females|with|the| |core|smoothing|parameter|and|with|additional|initial|mortality|improvement|factor A=0.5%.| |The|next|actuarial|valuation|of the|DB|Plan|within|the|Scheme|was|due|to|take|place|not| |later than|as|at|31|December|2022.|However,|the|DB|Plan|is|to|be wound|up,|and|the| |process|to|wind|it|up|was|started|with|effect from|31|March|2024|and|therefore|no|formal| |valuation|is|due|to take|place.|

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Recovery Plan

In addition to the contributions to the DC Plan set out above, where a valuation of the DB Plan reveals a deficit the Trustee and the Council agree to a rate of deficiency contributions from churches and other employers involved in the DB Plan. Following the 2019 valuation a Recovery Plan was signed in September 2020 under which deficiency contributions were payable until June 2026.

On 30th June 2022 the Baptist Pension Scheme signed an agreement with the insurance company Just Group (“Just”) to secure DB Plan members’ pension benefits. Just are now providing financial backing for all pensions provided through the Scheme’s DB Plan and, following this transaction, the Scheme no longer has a shortfall. An updated Recovery plan was then signed in August 2022 under which recovery contributions from each participating employer in the DB Plan reduced to £1 per month from August 2022. These contributions are payable under the recovery plan until June 2026.

Viewfield Baptist Church Pi he Me emi a Notes to the Accounts for the year ended 31 March 2025

The outstanding deficiency contributions due under the Recovery Plan are not considered material and therefore have not been included in the balance sheet.

As there is a large number of contributing employers participating in the Scheme, the 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 and loss charge for the period represents the employer contributions payable. The total pension csot for the Church is £8,015 (2024: £12,046)

The Church has been advised that the estimated cost for the church to buy out their Pension Scheme liabilities as at 20 June 2022, was £5,400. This is the closes estimation available for the pension debt at 31 March 2025, and therefore this has been included in the 2025 Annual Report.