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2024-12-31-accounts

Charity Registration No. SC050871 (Scotland)

CENTRAL BAPTIST CHURCH DUNDEE

ANNUAL REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

SCIO (Scottish Charitable Incorporated Organisation)

CENTRAL BAPTIST CHURCH DUNDEE LEGAL AND ADMINISTRATIVE INFORMATION Trustees eharlty number (Scotland) SC050871 Pilnclpal address Audltor Bird Simpson & Co 144 Nelhergat8 Dundee DD14EB Bankers Virgin Money Chief Offi High Strèèt Dundee DD11SS

CENTRAL BAPTIST CHURCH DUNDEE

LEGAL AND ADMINISTRATIVE INFORMATION

Solicitors

Diakoneo Legal Services Limited 48 Speirs Wharf Glasgow G4 9TH

CENTRAL BAPTIST CHURCH DUNDEE

CONTENTS

Page
Trustees' report 1 - 5
Independent auditor's report 6 - 8
Statement of financial activities 9 - 10
Balance sheet 11
Statement of cash flows 12
Notes to the financial statements 13 - 28

CENTRAL BAPTIST CHURCH DUNDEE

TRUSTEES' REPORT

FOR THE YEAR ENDED 31 DECEMBER 2024

The Fellowship is known as Central Baptist Church and it is affiliated to the Baptist Union of Scotland.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the the Fellowship's constitution, the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 (as amended) and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)".

Objectives and activities

The Aims of Central Baptist Church Dundee are to join together in Christian worship and fellowship and to engage in the propagation of the Gospel of Jesus Christ, both locally and beyond.

The Trustees have paid due regard to guidance issued by the Office of the Scottish Charity Regulator (OSCR) and the Charity Commission in deciding what activities the Fellowship should undertake.

A full programme of activities, mainly in the areas of preaching, teaching and pastoral care, continued throughout 2024. Outreach to the wider community also continued through Faith & Friendship, student, youth, children and other ministries. In addition, the live streaming of Sunday Services continued to provide spiritual support to housebound members and the wider church family.

Achievements and performance

Worship services continued with attendance strong throughout the year. The network of Growth Groups, that covers all areas of the city, continued to thrive and increase opportunities for fellowship, teaching and prayer.

Church meetings continued to be well attended, with good support for the works planned and completed.

Church ministries from Toddlers, to Youth, to Students, to Faith & Friendship continued and good growth was evident in many of these ministries.

The Pastoral Team, supported by Elders, Deacons and visitors, continued to serve the church family, whether their needs were short-term or long-term, with specific attention given to the care and support of senior members and those suffering with illness.

The Hardship Fund continued to be used by the Pastoral Team to provide financial assistance, as and when required, to those who were in greatest need within the Fellowship. The generosity of the church family in donating these funds was, and continues to be, a source of blessing to many.

25 individuals came into membership with 14 transferring or leaving membership by other means, giving a total of 268 members at the year end.

Four Deacons were re-elected and two new Deacons were appointed in 2024, helping the church to respond to the increasing commitment required to lead and manage the church and its activities. The Search Committees continued to recognise people with the appropriate gifting to serve within the ministries of the church.

CENTRAL BAPTIST CHURCH DUNDEE TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Flnanclal revlew 2024 was a year where the practical support of the Fellowship continued at a generous level. This enabled the Church lo carry out ils plans and objectives for the year and we give thanks and praise to God for the support received. Ganaral Fund lunr8strict8d fundl- £184,001 Th F•llowship continued lo givtr failhlully throughout the y¢ar. Total Gengral Fund in¢om• was £400,7T3, up 7°k on the prior year. Expenditure on charitable activities of £429,509 wos £42,584 higher than the previous year but broadly in line with the original budgeted expendituro. Overall, thero was a nel General Fund deficit of £29.479 in 2024. prO￿ty R¢$•rvo Fund lunr•$tri¢l•d do$ignat¢d fundl- £2,918,724 Thi5 Fund holds t￿ church building$ and oth•r tangiblè a$s•ts. Thor• wor• no ehang•$ to thi$ fund valuo during tho yoar. Hardship Fund lunrestricted designal8d fundl- £6,657 This fvnd providos $UPPOrt for tPK80 members of Iho Fdlow$hip in need. Dunng tho year the fund Provid￿ Support paym•nl$ tolalling £1,230. Futuro Gonorations Fund lunreslricled do9ignal8d furHJI- £178,576 Followng rècaipt of a signrficant 18gacy from èstatè of Miss Naomi Lèa in 2021. this fund wag Cr￿t•d. It 1$ eamarkod for Mini$lor-in-Training r&l•tod ¢osl$ and for ¢osts a$Jo¢ialed wf(h tho inv¢$trnonl in the lulure genoration of tho church family. Given th• $lr•ngth of tho Genoral Fund incomo in 2024, no transfor from this fvnd lo th$ G¢n•ral Fund wa$ r•quir¢d to provid• Support for Ih•s• costs. It romain$ availabl•, a¥ nèc¢$sary, lo provhd• support for these costs in fvlure years and as plans evolv•. Robortson Fund Ir8strict8d fundl- £129.916 Tho year4nd bal•n¢¥ comprised the ¢o$t of the prowty al 1£114,5801 and a bank b•lan¢o of £15,336. During 2024 the Fund r•coNod in¢om¢ Qf £3,000, reflecting the rent for the Church Office paid by tho G•n•ral Fund. Thè •xpondrtur• of £9,OSO wa$ for $taffing co$1$ to ￿PpOrt sonior m•mb•r$ of tho F•llowship. Youth Fund Ireslricled fvndl - £nil Tho balance in thi$ furyj was fully used during the year lo support various youth activities, induding a weekend away. Ward Road 8uildings Fund (restricted fund) - £25,553 This fund must bo used for tho maintonanco and upkoop of tho Ward Road buildings. Durirvj tho yoar, oxp8nditur of £5,409 was allocated to this fvnd and £2,368 was transferred to tha Dishwashèr Fund. The fvnd balanca includès a bank balance of £8,152 and thè deprèciation valuè of audk)-visual èquipment purehased in 2024 {£17.4011. Dishwasher Fund- £3,651 Tho balance in this fvnd represents tho depreciation valu8 of a dishwash8r that was purchasod in 2024. A V Fund- £1,575 The balance in thi5 fund represents the depreciation value of audio-visual equipment purchased in 2024.

CENTRAL BAPTIST CHURCH DUNDEE TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 11 is the policy of the Fellowship that unreslricled funds (General Fund) which have not been designated for sp8afic usè should b& maintain8d at a levèl 8quival&nt to b&tsv88n throe and six months, expgndilmro. Thè Trust￿$ consider that rese￿8$ at this lav81 will ensur& that, in thè avant of a signrficant drop in funding, they will be ablè to continuè Fellowship's currant activrtias whil8 eonsidaration is givan to ways by which additional funds may bo rai$¢d. At th• end of 2024 tho$0 resorves wer• ¢quival•nl to almost fivo monlh$' ex￿ndItUr6. The level of reserve funding remains subject lo dose ongoing scrutiny by the Trustees. 11 is an1￿1pated that the reserve 18v81 al th8 end of 2025 Mqll romain towards th8 upper end of the thr88 lo six months, of •xpondrtur• policy targ8t. Rlsk Management The Trustees have assessed Ihg major risk5 to which the Fellowship is exp059d arKI arg Satisfied that systems ar• in place to mitigate exposur8 to the major risks. Plan$ lor future perlod$ Tha church continu8S to $88 grovth in att8ndanc• at Sunday S•rvic•s with in¢r•asing •ngag•m•nt by many of th• church M¢m￿r$ in the a¢livilie$ of tho Church. Continuing to $tr•nglhon our •ngag¢m•nl with the Pillar N¢tsvorf¢ of church•g r•mains a kèy activity. Tho increasing attondanc8 at both church and church activities is loading many poopl8 to a personal faith that is than r•fl8ct8d in th• number of baptisms and naw church members. This is a rèal blassing and assur8s th Fèllowship that wa aro baing laithlul in working out our purposo a$ a ¢hur¢h. We ne•d lo Conlinug on this path b&li¢ving that God 1$ in what we ar• CLsrronlly doing.

CENTRAL BAPTIST CHURCH DUNDEE

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

Structure, governance and management

The Fellowship is a registered charity, number SC050871.

In accordance with Baptist Principles church government is directed by the Church Meeting. Trustees act in accordance with decisions of the Church Meeting. The Diaconate and Elders (the Trustees) are responsible for the oversight of the practical administration of the church. Support groups, and individual ministries are responsible to the Diaconate for the day-to-day operation of all church activities.

Statement of Trustees' responsibilities

The Trustees are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in Scotland requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the the Fellowship and of the incoming resources and application of resources of the the Fellowship for that year.

CENTRAL BAPTIST CHURCH DUNDEE

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping sufficient accounting records that disclose with reasonable accuracy at any time the financial position of the the Fellowship and enable them to ensure that the financial statements comply with the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the the Fellowship and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The Trustees' report was approved by the Board of Trustees.

3 June 2025

CENTRAL BAPTIST CHURCH DUNDEE

INDEPENDENT AUDITOR'S REPORT

TO THE TRUSTEES OF CENTRAL BAPTIST CHURCH DUNDEE

Opinion

We have audited the financial statements of Central Baptist Church Dundee (‘the Fellowship’) for the year ended 31 December 2024 which comprise the statement of financial activities, the balance sheet, the statement of cash flows and the notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the accounts section of our report. We are independent of the Fellowship in accordance with the ethical requirements that are relevant to our audit of the accounts in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the Trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the the Fellowship’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the Trustees' Report other than the financial statements and our auditor's report thereon. The Trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

CENTRAL BAPTIST CHURCH DUNDEE

INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF CENTRAL BAPTIST CHURCH DUNDEE

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters in relation to which the Charities Accounts (Scotland) Regulations 2006 (as amended) and the Charities and Trustees Investment (Scotland) Act 2005 require us to report to you if, in our opinion:

Responsibilities of Trustees

As explained more fully in the Statement of Trustees' Responsibilities, the Trustees are responsible for the preparation of the accounts and for being satisfied that they give a true and fair view, and for such internal control as the Trustees determine is necessary to enable the preparation of accounts that are free from material misstatement, whether due to fraud or error.

In preparing the accounts, the Trustees are responsible for assessing the Fellowship’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

We have been appointed as auditor under section 44(1)(c) of the Charities and Trustee Investment (Scotland) Act 2005 and report in accordance with the Act and relevant regulations made or having effect thereunder.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

At the planning stage, we assess the risk of material misstatement and any such irregularities and design audit procedures tailored to these risks which will be followed to ensure that we are capable of meeting our responsibilities in this area.

Factors relevant to our assessment, which have a positive impact on the capability of our procedures to detect such irregularities, are the size of the entity, the complexity of the entity's operations and our understanding of their regulatory and control environments.

The staff working on this audit assignment have been fully briefed in relation to the charity's activities, including the regulatory regime in which they operate.

As part of an audit in accordance with ISAs (UK), we exercise professional judgement and maintain professional scepticism throughout the audit. We also:

CENTRAL BAPTIST CHURCH DUNDEE

INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF CENTRAL BAPTIST CHURCH DUNDEE

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https:// www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Other matters

Your attention is drawn to the fact that the charity has prepared financial statements in accordance with "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (as amended) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn.

This has been done in order for the financial statements to provide a true and fair view in accordance with current Generally Accepted Accounting Practice.

Use of our report

This report is made solely to the charity’s trustees, as a body, in accordance with regulation 10 of the Charities Accounts (Scotland) Regulations 2006. Our audit work has been undertaken so that we might state to the charity's trustees those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.

For and on behalf of Bird Simpson & Co, Statutory Auditor Chartered Accountants 144 Nethergate Dundee DD1 4EB 3 June 2025

Bird Simpson & Co is eligible for appointment as auditor of the the Fellowship by virtue of its eligibility for appointment as auditor of a company under section 1212 of the Companies Act 2006.

CENTRAL BAPTIST CHURCH DUNDEE

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 DECEMBER 2024

Current financial year
Unrestricted Unrestricted
Restricted
funds
funds
funds
general
2024
2024
2024
Notes
£
£
£
Income from:
Donations and legacies
3
381,989
-
7,551
Other trading activities
4
6,947
-
-
Investments
5
11,837
-
3,000
Total income
400,773
-
10,551
Expenditure on:
Charitable activities
6
429,509
1,230
21,770
Net outgoing resources before
transfers
(28,736)
(1,230)
(11,219)
Gross transfers between funds
(743)
-
743
Net expenditure for the year/
Net movement in funds
(29,479)
(1,230)
(10,476)
Fund balances at 1 January 2024
213,480
3,105,187
171,171
Fund balances at 31 December
2024
184,001
3,103,957
160,695		 Total
2024
£
389,540
6,947
14,837
411,324
452,509
(41,185)
-
(41,185)
3,489,838
3,448,653		 Total
2023
£
387,258
9,576
11,470
408,304
425,475
(17,171)
-
(17,171)
3,507,009
3,489,838

The statement of financial activities includes all gains and losses recognised in the year.

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

CENTRAL BAPTIST CHURCH DUNDEE

STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED) INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 DECEMBER 2024

Prior financial year

Unrestricted Unrestricted
Restricted
funds
funds
funds
general
2023
2023
2023
Notes
£
£
£
Income from:
Donations and legacies
3
356,127
25,066
6,065
Other trading activities
4
9,576
-
-
Investments
5
8,470
-
3,000
Total income
374,173
25,066
9,065
Expenditure on:
Charitable activities
6
386,925
695
37,855
Net outgoing resources before transfers
(12,752)
24,371
(28,790)
Net expenditure for the year/
Net movement in funds
(12,752)
24,371
(28,790)
Fund balances at 1 January 2023
226,232
3,080,816
199,961
Fund balances at 31 December 2023
213,480
3,105,187
171,171		 Total
2023
£
387,258
9,576
11,470
408,304
425,475
(17,171)
(17,171)
3,507,009
3,489,838

The statement of financial activities includes all gains and losses recognised in the year.

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

CENTRAL BAPTIST CHURCH DUNDEE

BALANCE SHEET

AS AT 31 DECEMBER 2024

Notes
Fixed assets
Tangible assets
12
Current assets
Debtors
13
Cash at bank and in hand
Creditors: amounts falling due within
one year
15
Net current assets
Total assets less current liabilities
Income funds
Restricted funds
Robertson Fund
Youth Fund
Ward Road Building Fund
Dishwasher Fund
A V Fund
17
Unrestricted funds
Designated funds:
Property Reserve
Hardship Fund
Future Generations Fund
18
General unrestricted funds		 2024
£
£
3,055,931
58,880
348,926
407,806
(15,084)
392,722
3,448,653
129,916
-
25,553
3,651
1,575
160,695
2,918,724
6,657
178,576
3,103,957
184,001
3,287,958
3,448,653		 2023
£
£
3,033,304
68,236
404,475
472,711
(16,177)
456,534
3,489,838
135,966
875
33,330
1,000
-
171,171
2,918,724
7,887
178,576
3,105,187
213,480
3,318,667
3,489,838		 2023
£
£
3,033,304
68,236
404,475
472,711
(16,177)
456,534
3,489,838
135,966
875
33,330
1,000
-
171,171
2,918,724
7,887
178,576
3,105,187
213,480
3,318,667
3,489,838
3,489,838
171,171
3,318,667
3,489,838

The financial statements were approved by the Trustees on 3 June 2025

Trustee Trustee

CENTRAL BAPTIST CHURCH DUNDEE

STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED 31 DECEMBER 2024

Notes
Cash flows from operating activities
Cash absorbed by operations
21
Investing activities
Purchase of tangible fixed assets
Investment income received
Net cash (used in)/generated from investing
activities
Net cash generated from financing activities
Net decrease in cash and cash equivalents
Cash and cash equivalents at beginning of year
Cash and cash equivalents at end of year		 2024
£
(30,169)
14,837		 £
(40,217)
(15,332)
-
(55,549)
404,475
348,926		 2023
£
-
11,470		 £
(36,615)
11,470
-
(25,145)
429,620
404,475

CENTRAL BAPTIST CHURCH DUNDEE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

1 Accounting policies

Charity information

Central Baptist Church Dundee is a Scottish Charitable Incorporated Organisation (SCIO) registered with the Scottish Charity Regulator (OSCR).

1.1 Accounting convention

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2 Going concern

At the time of approving the accounts, the Trustees have a reasonable expectation that the Fellowship has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going concern basis of accounting in preparing the accounts.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives.

Restricted Funds are held for the purpose of the restrictions when donated.

Funds held by the Trustees, which arose from the sale of the Robertson Rest Home, are restricted in application to comply with the Scheme for the administration of the funds dated 5 April 2002, namely "to hold the said funds and to apply the said funds and any income therefrom, on the provision of care (including physical, pastoral, social and spiritual care) for elderly and disabled persons who are members of the Baptist Church in the Dundee City in such manner and such means as the Trustees in their absolute discretion consider appropriate".

Funds held by the Trustees from a Legacy received from The late Miss Margaret Bibb, are restricted and are specifically to be used for the maintenance and upkeep of the Ward Road buildings.

Funds held by the Trustees from a donation are restricted and are to be used for youth work.

Funds held by the Trustees from a donation are restricted and to be used for a new projector.

1.4 Income

Income is recognised when the Fellowship is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the Fellowship has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the Fellowship has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

CENTRAL BAPTIST CHURCH DUNDEE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

1 Accounting policies

(Continued)

1.5 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.

Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.

Expenditure is charged to the revenue account on an accruals basis.

1.6 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Land and buildings No depreciation Fixtures, fittings & equipment 25% - Straight Line Basis

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

1.7 Impairment of fixed assets

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset is estimated to be less than its carrying amount, the carrying amount of the asset is reduced to its recoverable amount. An impairment loss is recognised immediately in income/ expenditure for the year, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately, unless the relevant asset is carried in at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

CENTRAL BAPTIST CHURCH DUNDEE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

1 Accounting policies

(Continued)

1.8 Financial instruments

The Trustees have elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised when the Fellowship becomes party to the contractual provisions of the instrument.

Financial assets are offset, with the net amounts presented in the accounts when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Fellowship’s contractual obligations expire or are discharged or cancelled.

1.9 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the Fellowship is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.10 Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due. There is also a closed defined benefit scheme where payments are made as determined by the scheme administrators.

1.11 Taxation

The income of the Charity is exempt from the charge to taxation.

CENTRAL BAPTIST CHURCH DUNDEE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

2 Critical accounting estimates and judgements

In the application of the Fellowship’s accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

CENTRAL BAPTIST CHURCH DUNDEE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

3 Donations and legacies

Unrestricted
Restricted
funds
funds
general
2024
2024
£
£
Donations and gifts
362,962
5,451
Legacies receivable
19,027
-
Grant Receivable
-
2,100
381,989
7,551
Donations and gifts
Envelopes
11,468
-
Open
25,083
-
Donations
270,041
5,235
Income tax recoverable on gift aid
52,279
216
Miscellaneous
4,091
-
362,962
5,451
Grants receivable for core activities
Dundee Festive Fund Grant Scheme
-
-
Benefact Trust - A V Grant
-
2,100
-
2,100		 Total
Unrestricted
Unrestricted
Restricted
funds
funds
funds
general
2024
2023
2023
2023
£
£
£
£
368,413
350,627
25,066
5,365
19,027
5,500
-
-
2,100
-
-
700
389,540
356,127
25,066
6,065
11,468
11,808
-
-
25,083
24,627
-
-
275,276
257,481
20,066
5,320
52,495
53,104
5,000
45
4,091
3,607
-
-
368,413
350,627
25,066
5,365
-
-
-
700
2,100
-
-
-
2,100
-
-
700		 Total
2023
£
381,058
5,500
700
387,258
11,808
24,627
282,867
58,149
3,607
381,058
700
-
700

CENTRAL BAPTIST CHURCH DUNDEE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

4 Income from other trading activities

Unrestricted Unrestricted
funds funds
2024 2023
£ £
Hall lets 6,947 9,576

5 Investments

Unrestricted
Restricted
funds
funds
general
2024
2024
£
£
Rental income
-
3,000
Interest receivable
11,837
-
11,837
3,000		 Total
Unrestricted
Restricted
funds
funds
general
2024
2023
2023
£
£
£
3,000
-
3,000
11,837
8,470
-
14,837
8,470
3,000		 Total
2023
£
3,000
8,470
11,470

CENTRAL BAPTIST CHURCH DUNDEE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

6 Expenditure on charitable activities

Direct costs
Staff costs
Depreciation and impairment
Other costs
Restricted fund expenses
Grant funding of activities (see note 7)
Share of support and governance costs (see note 11)
Support
Governance
Analysis by fund
Unrestricted funds - general
Unrestricted funds - designated
Restricted funds		 Ministry
2024
£
166,469
-
7,644
-
174,113
-
13,749
2,727
190,589
190,589
-
-
190,589		 Mission Establishme
nt
2024
2024
£
£
-
69,543
-
7,542
16,102
63,782
-
-
16,102
140,867
88,475
-
2,750
10,999
545
2,182
107,872
154,048
101,073
137,847
1,230
-
5,569
16,201
107,872
154,048		 Total
2024
£
236,012
7,542
87,528
-
331,082
88,475
27,498
5,454
452,509
429,509
1,230
21,770
452,509		 Ministry
2023
£
156,604
-
6,233
-
162,837
-
10,916
2,442
176,195
176,195
-
-
176,195		 Mission Establishme
nt
2023
2023
£
£
-
75,217
-
4,089
14,032
59,182
-
9,562
14,032
148,050
73,840
-
2,183
8,733
488
1,954
90,543
158,737
82,914
127,816
695
-
6,934
30,921
90,543
158,737		 Total
2023
£
231,821
4,089
79,447
9,562
324,919
73,840
21,832
4,884
425,475
386,925
695
37,855
425,475

CENTRAL BAPTIST CHURCH DUNDEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Grants payable Mission 2024 Mission 2023 Grants to inslilulions= UICM IA Bums) Scottish Baptist Fund Ba list Worfd Mission 1,500 11,000 500 3.000 9,000 10,000 20.500 9.600 6,400 4.445 11.300 1,500 11,t)00 soo 9,500 19.SOO 9,600 6,400 4,345 10.800 Lochee 8aptist Chapel Carnou$ti• Baptist Churd) Small Grants COCM - 87,245 73,145 Grants to individuals 1.230 88,475 73,840 Net movement In funds 2024 2023 Th• n•1 mov•m•nt in funds 1$ Slated aftor chargingller•ditingl'. Fees payabl8 for tha audit of thè charity's financial stat•m8nts Doprocialion of ownod tangibl8 fixed ass8ts 5.4S4 7.S42 4,884 4,089 Trustees The following employee5 are also Trustees of Central 8ap115t Church Dundee= received a stip8nd of £49,6SO 12023 - £46,263) a housing allowance of £7,6121202> £6,9711 a pension contribution of £6,041 12023 - £5,567) milgage gxpensos of £864 12023 £8221 and Em lo èrs national insurancè contributions of £4,701 12023 - £6,091). eeeivèd a stipend of £46,65012023 - £43,100) a pension tontribution of £5,27512023 - £4,834} mileage expenses of £432 12023 - £NILI and Employers national insurance conlributK)ns of £3,665(￿23 £4 693 rec6ived a salary of £36,30012023- £36,3001 a ponsion contllbution of £3,91012023 - £3,630} mileage expansos of £138 1202> £1971 and Employers national insurance contributions of £2,655 12023 ecaived a salary of £9,05012023- £8,400}.

CENTRAL BAPTIST CHURCH DUNDEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 10 Employees Thè avèragè monthly numbèr of amployo•s during thè yèar was.. 2024 Number 2023 Number Ministy Othar Total 10 Employment costs 2024 2023 Wagos and salari•s Social socurity cos15 Othor ￿nsKIn ¢o$l$ 204,624 12,079 19,309 202,935 10,786 18,100 236.012 231,821 Thore wore no 8mployo05 whose annual remun8ration was more than £60.000. Remuneratlon of key management personnel Tho remuneration of kay managomenl personnel, who are also trusl885. is as follows. 2024 2023 Aggragat8 componsation 166,459 146,885 $pouse ¢1 Tru$lo was an employee of Central Baptist Church Dundee. Her salary ftr the year was £12,45012023- £11,550} and employer pension conlribul*)n of £1,24512023 - £1,141) Ive in a prop8ty that tho church has an investmonl in. 21

CENTRAL BAPTIST CHURCH DUNDEE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

11 Support costs

Office & admin costs
Audit fees
Analysed between
Charitable activities		 Support
costs
Governance
costs
£
£
27,498
-
-
5,454
27,498
5,454
27,498
5,454		 2024Support costs Governance
costs
£
£
£
27,498
21,832
-
5,454
-
4,884
32,952
21,832
4,884
32,952
21,832
4,884		 2023
£
21,832
4,884
26,716
26,716

Governance costs include £5,454 audit fee.

Office & admin costs include £4,860 accountancy fees and £1,680 payroll preparation fees paid to the auditors.

12 Tangible fixed assets

Cost
At 1 January 2024
Additions
Disposals
At 31 December 2024
Depreciation and impairment
At 1 January 2024
Depreciation charged in the year
Eliminated in respect of disposals
At 31 December 2024
Carrying amount
At 31 December 2024
At 31 December 2023		 Land and
buildings
£
3,033,304
-
-
3,033,304
-
-
-
-
3,033,304
3,033,304		 Fixtures,
fittings &
equipment
£
99,085
30,169
(77,189)
52,065
99,085
7,542
(77,189)
29,438
22,627
-		 Total
£
3,132,389
30,169
(77,189)
3,085,369
99,085
7,542
(77,189)
29,438
3,055,931
3,033,304

CENTRAL BAPTIST CHURCH DUNDEE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

13
Debtors
Amounts falling due within one year:
Other debtors
Prepayments and accrued income
14
Financial instruments
Carrying amount of financial assets
Debt instruments measured at amortised cost
Carrying amount of financial liabilities
Measured at amortised cost
15
Creditors: amounts falling due within one year
Accruals and deferred income		 2024
£
54,313
4,567
58,880
2024
£
54,313
15,084
2024
£
15,084		 2023
£
63,867
4,369
68,236
2023
£
63,867
16,177
2023
£
16,177

CENTRAL BAPTIST CHURCH DUNDEE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

16 Retirement benefit schemes

Defined contribution scheme

The Church is an employer participating in a pension scheme known as the Baptist Pension Scheme ("the Scheme"), which is administered by the Pension Trustee (Baptist Pension Trust Limited). The Scheme is a separate legal entity and the assets of the Scheme are held separately from those of the Employer and the other participating employers.

For any month, each participating employer in the Scheme pays contributions as set out in the Schedule of Contributions in force at that time.

The Scheme is considered to be a multi-employer scheme as described in Section 28 of FRS102. This is because it is not possible to attribute the Scheme's assets and liabilities to specific employers and means that contributions are accounted for as if the Scheme were a defined contribution scheme. The pensions costs charged to the SoFA in the year are contributions payable towards benefits and expenses accrued in that year.

The pastors and other employees are eligible to join the Scheme. 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 Legal and General Life Assurance Society Limited. 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 in the event they are unable to work due to long-term incapacity. This income protection policy has been insured by the Baptist Union of Great Britain with Aviva plc.

Defined Benefit Scheme

Benefits in respect of service prior to 1 January 2012 are provided through the Defined Benefit (DB) Plan within the Scheme. The main benefits for pre 2012 service were a defined benefit 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. 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.

Future Plans

The DB Plan has now transitioned to 'Just' in a 'buy-out' agreement. This was completed in November 2024. If there are surplus assets in the DB Plan the Trustee may use some of the surplus assets to enhance members' benefits. Currently it is not expected that any surplus will be significant. As the buy-out is now complete DB entitlements will no longer be part of the Scheme. Once all steps to transition to Just have taken place, the DB plan will no longer be required and the Trustee anticipates fully completing the work to wind-up the DB Plan in 2025.

CENTRAL BAPTIST CHURCH DUNDEE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

17 Restricted funds

Robertson Fund – this is a fund which arose from the sale of the Robertson Rest Home and must be used for the provision of care (including physical, pastoral, social and spiritual care) for elderly and disabled persons who are members of the Baptist Church in the Dundee City in such manner and such means as the Trustees in their absolute discretion consider appropriate.

Youth Fund – this fund holds donations received where the donor has noted it must be used for youth work.

Ward Road Buildings Fund - this fund holds a legacy received which has to be used for the maintenance and upkeep of the Ward Road buildings. Projector Fund - this fund was used for a new Projector. This was bought in 2023.

Dundee Festival Grant - this fund held a grant that was to be used in support of the Loads O' Christmas and Art Projection project.

Faith and Friendship Fund - this fund was set up following receipt of a grant for the purchase a snooker table and to pay for a bus trip.

Dishwasher Fund - During 2023, a grant was received to support the purchase of a replacement dishwasher.

Movement in funds
Balance at
1 January 2023
Incoming
resources
Resources
expended
Balance at
1 January 2024
r
£
£
£
£
Robertson Fund
144,245
3,000
(11,279)
135,966
Youth Fund
5,104
2,705
(6,934)
875
Ward Road Buildings Fund
43,612
-
(10,282)
33,330
Projector Fund
7,000
-
(7,000)
-
Dundee Festival Fund
-
700
(700)
-
Faith and Friendship Fund
-
1,660
(1,660)
-
Dishwasher Fund
-
1,000
-
1,000
A V Fund
-
-
-
-
199,961
9,065
(37,855)
171,171		 Movement in funds
Incoming
esources
Resources
expended
£
£
3,000
(9,050)
3,951
(5,569)
-
(5,409)
-
-
-
-
-
-
1,500
(1,217)
2,100
(525)
10,551
(21,770)		 Transfers
Balance at
31 December
2024
£
£
-
129,916
743
-
(2,368)
25,553
-
-
-
-
-
-
2,368
3,651
-
1,575
743
160,695		 Transfers
Balance at
31 December
2024
£
£
-
129,916
743
-
(2,368)
25,553
-
-
-
-
-
-
2,368
3,651
-
1,575
743
160,695
160,695

CENTRAL BAPTIST CHURCH DUNDEE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

18 Unrestricted funds - designated

Property Reserve - This fund holds the cost or valuation of the church buildings and other tangible assets held by the church.

Hardship Fund - This fund has been earmarked to provide financial support to those within the Fellowship who are in need.

Future Generation Fund - This fund is earmarked for Minister-in-Training related costs and for costs associated with the investment in the future generation of the church family.

Balance at
1 January 2023
£
Property Reserve
2,918,724
Hardship Fund
8,516
Future Generation Fund
153,576
3,080,816		 Incoming
resources
£
-
66
25,000
25,066		 Resources
expended
Balance at
1 January 2024
£
£
-
2,918,724
(695)
7,887
-
178,576
(695)
3,105,187		 Resources
expended
Balance at
31 December
2024
£
£
-
2,918,724
(1,230)
6,657
-
178,576
(1,230)
3,103,957		 Resources
expended
Balance at
31 December
2024
£
£
-
2,918,724
(1,230)
6,657
-
178,576
(1,230)
3,103,957
3,103,957

19 Operating lease commitments

Lessee

At the reporting end date the the Fellowship had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

2024 2023
£ £
Within one year 1,032 1,500

CENTRAL BAPTIST CHURCH DUNDEE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

20
Analysis of net assets between funds
Unrestricted
funds
Designated
funds
Restricted
funds
2024
2024
2024
£
£
£
Fund balances at 31 December 2024 are
represented by:
Tangible assets
-
2,918,724
137,207
Current assets/(liabilities)
184,001
185,233
23,488
184,001
3,103,957
160,695		 Total
Unrestricted
funds
Designated
funds
2024
2023
2023
£
£
£
3,055,931
-
2,918,724
392,722
213,480
186,463
3,448,653
213,480
3,105,187		 Restricted
funds
2023
£
114,580
56,591
171,171		 Total
2023
£
3,033,304
456,534
3,489,838

CENTRAL BAPTIST CHURCH DUNDEE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

21 Cash absorbed by operations 2024 2023
£ £
Deficit for the year (41,185) (17,171)
Adjustments for:
Investment income recognised in statement of financial activities (14,837) (11,470)
Depreciation and impairment of tangible fixed assets 7,542 4,089
Movements in working capital:
Decrease/(increase) in debtors 9,356 (14,091)
(Decrease)/increase in creditors (1,093) 2,028
Cash absorbed by operations (40,217) (36,615)

22 Collections for Third Parties

The following income from Special Collections and donations was received and distributed during the year:

Open Doors
Chest, Heart and Stroke
BMS Birthday Scheme
Dundee Starter Packs		 2024
£
380
544
310
182
1,416		 2023
£
-
-
150
150

23 Auditors' Ethical Standards

The relevant circumstances requiring disclosure in accordance with the requirements of APB Ethical Standards - Provisions Available for Smaller Entities are that, in common with many charities of our size and nature we use our auditors to assist with the preparation of the financial statements.

24 Analysis of changes in net funds

The Fellowship had no debt during the year.

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