BROUGHTY FERRY BAPTIST CHURCH SCIO SCOThISH CHARITY NO: SCOS1613 TRUSTEES, ANNUAL REPORT AND FINANCIAL STATEMENTS for the year ended 31st May 2024 Reglstered Address: 86 St Vincent street Broughty Ferry Dundee DD5 2EZ
BROUGHTY FERRY BAPTIST CHURCH TRUSTEES, ANNUAL REPORT for the year ended 31 May 2024 The trustees have pleasure in presenting their report together with the financial statements for the year ended 31 May 2024. Reference and Admlnlstrallve Infonnallon Charlty Narn• Broughty Fery Boplist ChLrch SCIO Charlty Number SC051613 Currenl Truslees (to 16 January 2024. Seuetary until then) Treasurer (to 25 May 2024) Secretary (from 6 March 3)24) 110 31 May 2r241 Chairman (from 13 September 2)23) (from 22 June 2024) {from 22 June 20241 Mlnlsler (ocling chairman until 13 September 20231
Slructure. Governanee and Management Conslllvllon Broughty Fetry Baptist Chvrch was founded in November 1876, registered as o charity on 9 June 1939. govemed by its conslitvtion and rules. The Chuich Official become o Scottish Charilable Incorporoled Organisation I'SCIO") on l June 3x2. This w05 the legal date Ihot the "old" vnincorporated charity {SCOI19371 was officialty wound up ond oll its assets and liabilities tron5ferred over to the SCIO ISC0516131. Setting vp the SCIO required a new constihjtion which was discussed and approved by the mernber5hip. Appolnlmenl ol Irustees Under the tenms of the new constitulion. the deacons and minister are the church's Trustees. Deacons retire in a rotation based on lenglh of service. with kn Deocons normally retiring eoch year. &ections of Deacons are caryied out in accordance th church hondbook. Objectlves and Acllv111es Chorftable purposes The advancement of refigion. Acllvllles Throughout 223124 the church mel in peon and had much encouragement from the number ofvisitorswe had. We continued toofferzoom attendance as on option for those not able to meet in person. As reported last year. consideration of accommodation needs has been on£oing. Progress has been made during the yeor in defining ow requirernenls. parlicularfy for children and youth w(yk and engaging with architects and building wofessionols in progressing plans. At yeor end. our Building Accommodalion ond Improvements totalled £1 14,237 (2022123: £95.931 l. We are in contact wth onother locol church about the future of ourst Vincent Street budding ond remoin confident that the Lord will yovide our needs. Last year. we reported thot we hod secured fvnding from Dundee Volunteer & Voluntory Action IDVVAI and the Baptist Union of Scolland, in order to support local Ukrainions postorally. This project concluded on 31 March 2024 with on Alpha course for Ukrainians, run in partnership V4ith o city-centre chwch. Youlh work continued wrth regular and varied sessions for Ihe church's youth. with much lo be thonkful to the Lord for in terms of youth discipleship. We are very thankful to our Youlh Pastor and youth leam for all Iheir hord work. With the svpport of our Children ond Fomifies. Wker and ow Yovth Pastor, we continued to offer a oarnMe of events ond activities fly all ages. for example toddlers, Messy Chwch. Break-thnJ. JAM (Jesus and Mel and JAM Kids (Sunday School). The work has at times been challenging in terms of lack of volunteers. We ore very thankful to our Children and Famil ies Worker and her team for oll ther hard woth throughovt the year.
As aaYS. we are thanktul for the prayer ond dedlcation of so many in our fellowship. especialty Ihose who help ond Supp others. often behind the scene5. Proyer meetings and life groups continued Ihroughovt the year. Proyer is of course the lrfeline of ony church and we ore very Monkful to all who pray nto slvations and support others by listening. proyer ond in practical ways. Life groups general meet every two weeks and prowde opportunities for the church to meet in small grovps vtho study the Bible together and its practicol oppbcalion to Ilfe with the outcome of growng in Chrisl. Men's Nights provide oppcylunities for men within the church to establish and build relationships wilh each olher over food Flnanclal revlew We are grateful to the fellowship of ughty Fery Baptist Church. vrfho have generou51y helped vs to meet our financial needs. The total Income Ihs yeor of £153.277 was £13.537 higherlhan the £139.740 reped last year. The main movement5 were receipts from fvnckoi%ng activities. which increased by £9.734 mointy due to the receipt of a donation of £1 0.000 ond a legocy of £1,000. Recurring giving w0ssrightdOVffl by£l.138from lost year. Gifl Aid for the 2021122 tox year was claimed this year ond weceived ju51 after year end. This lotolled £17.906. This was tronsferred lo the Bvli ding Accommodation and Improvements Fund in order to help with the planned extension. Holl hires to101d £23.760 which Wos £1.504 more than last year. The RBS deposit account opened during the yeor gave us interest income of £742. Our total expenditure of £137.173 was £7.416 higher than the £129.757 last year. The main reasons were Ukraine pastoral minty costs of £1 0.223 and pay increase5 of £5,229 compared to last year. Thi5 is Offset to some extent by lower fabric costs ot P8C of £4,318. This was becouse lost year's costs induded the new sound desk and audio visual system costs of £14.487 whereas this yeorfs inckjded professional fees for the extension project of £9.334. As usvol. we paid OLff 11 capitation charges to Ihe Baptist Unbon, and mode some donations. FLther details of whot we received and paid is included in Notes 4 to 7. The main donations made in Ihe yeor include £2.OCQ in 5vppcxk of Hamish Rice studying at a French Bib College, lour quarterly donations of £250 each to Serbia, EBF HO Land Appeal. MAF and SU Toyside. In oddilTon. we donated £750 as love gifts to supported missionaries. £250 to SU Tayside from Christmas olfering. £5CX) to 8MS Harvest and £9LK) lowoYd5 the EBF Armenia appeal. We olso supported Nilapu and Su&Mita in India wth renl and emergency hospitol costs lotalling £1,7. We are thonkful that we generated net receipts of £16.104 {comp(yed to £9.983 last year) which includes the Gift Aid claim of £17.906 finally received just after year end.
Consequently, our bank bolance increased during the year. The total amount in the bank as ot 31 May 2024 was £147.567 {31 May 2023: £131.463). Here is a summary of the various Funds held by Ihe chvrch as ol 31 May 2024: Fund Fund balanco balan brouBht carrie frWa Recets Payments Transleys forwa und narne limate Act5on uildin8 accommodatlon and imly0rnents lary datIOnS kraine minlsty nrestrlcted funds otal fvnds 95.931 17.91% 114,237 1.2L)) 11.2LWI 9.456 3LKI 110.2231 24,6 151,377 1125.7501 131,453 153277 137.173 14671 32.411 14756 17.906 Reserves pollcy The Truslees, policy is to retain unrestricted funds of at least £30,[ In order to meet commitments ond cover any unexpected expenditure. Unrestricted funds at 31 May 2024 stood at £32.411 12022123: £24.6901. thich is above the minimum larget. Thi5 includes Gift Aid claimed f¢y Ihe 2021122 tox yeor bvt exdudes Gilt Aid cloimoble for the 2022123 and 2023124 lox years. 11 also ncludes extensK)n-relcted Iprofessionol services) costs of £9.334. Ow cuffent focus is on increasing the Bull ding Accommodation and Improvements fund. which stood ot £l14.237 ot 31 May 3)24 {£95,931 ot 31 Moy 20231. Thanks Finally. the Trustee5 wish lo record our thank5 to God. vtho ha5 guided and provided for the church through anolher year. Declar¢Jllon The Trustees declare Ihot they hove opproved ttie above TnJstees' Report. Signed on beholf of the charity's trustees: Secretary Date: Treasurer Dole: Lqlql2Jt
Slalement of Recelpts & Payments for Ihe Year Ended 31 Moy 2024 Y•ar•nd4d 31 M•y Year ended 31 Mav 2023 furbds lynd5 Recelpts Donations (Note 41 Receipts from fundraisin8 artivitie5 (Note Sl 8ank interest Rent from land & bJildings Receipts frn charitaFJe activities (Note 61 sut01•1 Proceed5 from sale offixed assets Tatsl Retelpts 265 21633 742 21760 89,531 21,408 158 22,256 6,387 139,740 700 21.93 74 23,76 5.67 15L37 15U77 £37 153277 139.740 P*ymeftts Expenses for fvndraisir6 actkvltles Payments relatin8 dlrecdy to drItsble Ktivities (Note 71 Grants and donations InfAe 81 Governance costs Tot•1 hym¢nts 11,423 118,145 7.185 42 125.75 129,56 124.127 5,330 42 11423 137,17 129.757 Surplusl(D•lkft) fortheyear 19523) rransfer5 between funds 17. I176 BrO1rt lrnrd fvnds 10&773 131,463 Total funds urrled lorward 115,156 31411 V17,567 iA63
stolement of Balances as at 31 May 2024 Yearer 31M Yearended 31 May 2023 ftestricted L1Threi(ted f¥nds Cash fvnds Cash and bank balances at start of yeor Surplus I (Deficit) foryear per Statement of ReIpts & Payment5 Transfers between fvnds Cash and bank balances aterbd oly IIA773 24.69 i. 121.480 19.523) 17. 25,62 I17,91) 3Uii 14104 9,983 147.567 L31A63 ecre Dale: Tre0er Date- rL4(f I If14
Notes lo the accountsfor Ihe year ended 31 May 2024 co nlin These occovnts hove been Ffepored on the Receipt5 and Payments basis in occordonce vrith the Charities & Twstee Investrnent {5cotlandl Act 2CJ35 ond the Chorities Accoun15 (Scotlond) RegLlations 2006 las amendedl. eond ose f funds Unrestricted fund5 are those that moy be used at Ihe discretion of Ihe trustees. Restricted funds may only be used for specific purposes. Restsrctions arise when specified by the donor or en lunds are raised for specific pwposes. ted tronsa tions No trusiee received any remuneration. During the year £IO,C(K) was from received from Stakam Ltd. o compony kn*hich trustee, AtaIr Won own5. Year end 31M Year •nded 31 May 2023 lunds Donatlons Open Plate General.. Standlng Order5 & Envelopes Miscellanèous Legacies 8.525 80.878 128 79.762 io, 79.762 99265 89,531 e¢el from fundra General.. Gift Building accommodation and improvements Climate Attion Ukraine mlnlstrv Fundraisng 17. 17.9D 5331 12.620 2.677 4.02 21J3 4.02 m <harftable a Children & Families, Work Youth Worker Church Groups L200 5.187 387 5.67 S77. 5.677 877
Yea ended 31 May 2024 Ye•r ended 31 May 2023 Re51rlcted UMe5trlrted nds nds 7.Pa ents rektkn dliecl Gross Pay- Minlster Gross Pay- Children & Famllles, Worker Gross Pay- Youth Worker EMplS Nl EMployeS Penslon Mileaee Telephone Coundl lax & & Huusing AIILwance Baptist Unlon of Scotland Capitation Fee Falxlc: P8C Fabric: St Vlncent Street CPD Costs Insurafftce Property Service5 (Cleanin& Grass & Wartel: PBC Property Service5 (cleani & Wastel: Stvincentstreei Utllltlès (Gas. Electrfic Brdband & Watsrl: PBC Utilities (Gas. £lertric. Broadband & Wèterl: StVinnt Street Photocopy- & Printing Office & Cleaning Supplies Other Admin Costs VSsltlng Preacher5 Church Group5 Catering Expenses Sundry Minlstry Costs Ukralne ministry 39.073 12.852 11.823 707 4,712 39,073 12,852 13,023 707 4,712 L09 42 36.472 11,702 11.545 383 5,246 1,589 1.2th) 7,27 7.27 4.20 10,693 215 3SO 6.881 10.693 21S 15.011 501 1.263 3.115 6,325 1,866 2,H5 5,63 1.98 137 1.98 2B7 1322 472 61 619 1.07 1.07 1,015 679 1.416 545 4,566 634 1,365 5.09 77 822 10.223 129.56 822 10.223 124 127 ntrs nation During the year gronts and donations lotollng £4.835 were paid to I l organisations. ond o total of £2.353 p(id to 2 indivbauals. ations The Church is o part1patIng ern[0Ver Ihe Bq)lisl Pension Scheme {"Ihe Scheme"). which is o separate legd entity administered by the Penshjn Trustee IBoptsl Pension Trust Nted1. The ossets of the Scheme are held separotety from Ihose of the &nployer and the other participoting employers. The Scheme. previoUY known as Ihe Baptist Ministers. PensTron Fund. sluted in 1925. bLrt was closed to futtNe occruol of defined benefits on 31 December l. Prior lo thts date the main benefit provided through the Defined Benefil IDBI Plan was a pension of 0 eightieth of final minimum F)ensionolJe ncome for eoch yeor of pensionable service togelher with additional pension in respect of yemiurrG on Pertsionat4e Income In
nston excess of Minimum Pensionatle Income. Since l Jonuw 2012, benefrts hove been provided through o Defined Contnbjtion (DCI Plon. A formal vaknation of the D8 Ron as 0131 Decernbef 2019 by o ofeSSionallY quoltfied Actu¢Jy using tt)e Proiected Unit Mettiod. Al Ihe valuation dale the motel value of the DB Plon assets wos £298 rn10n. wh15t the level of assets needed to pay benefi15 Was £316m. gmng o deficit of £18m lequivdent lo o r)ast service lunding level of 94%1. The Church ond the other parlicipating employers in the DB Plan ore ccAÈctively respcfi5bi le for funding thi5 deficit. The nexl actv(Yiol valuation of the D8 Pl thin the Scheme is due to toke place not loler thon os 0131 t)e¢ember 3)22. On 30th Jvne 2¢y22 Ihe 8(WI1 Pension Scheme signed on ogreeffent with the Insuronce company Just Grovp I"Jusl"I lo seCe DB Plan members, pension benefft5. Just are now providing financid backnng f(y oll pensions ryovided tlvough the Scheme's DB Plan and lolowng this transocticfi. the Scheme no bnger hos o shortfall. An updated Recovery plan wos then signed in August 21 uThJer vthich recovery conlTibutrons from each Fjarticipoting employ8r in the DB Plan reduced to £1 per month from Augusl X)22. F nd in Deficil At 31 Moy 224 the Ukrane Minsty fund was in def11 by £467. but is expected to be cleared by futurè income. io
Indep•ndenl Examlner's R•p¢xl to the Truslees of Brovghty Fery Baptlsl Church scio I report on Ihe occounts of the charity the yecT ended 31 Moy 2024 whh are set out on pages 7 to 10. Thts reoort is mode to the chcrities tnJstees. 05 0 body. My w¢Jk has been undertaken to enoble me lo undertake an indeperwjent exonNnotion ot the charity's occounts on beholf of the chcty,$ tru51ees ond for no olher purp)se. To the lulest exlent permilted by I. I do not occept or ¢Jssume resF)0nYb to anyone ottw than the charity and the chority's tnJslees as a Èody for my w(yk ¢y this report. R•spedlve responslblllll•s ol lffuthes and •xomlnw The charity's twstees ore re5pon&ble Icff the Eyeporation of the accounts in occordance th tFp terms of the Chorities ond Trustee Investment (Scollandl Act 20JS and the Chorities Accounts Iscotlandl Regulalions 2DJ6. The ch(Jity fruslees congder that the oudit requirement of Regulation l O{1 I Idl of Ihe Accounts Regulotions does not aF)ply. It is my responsibilty to exomine the account5 as reqred under section 44111 (cl of the Act and to state whether particulor Matte have come to my ortenlion. Bgsls <* Independent examIne5 slolement My examination is caffied out in accdance wth the Regvlotion I l of the Charftles Accounts Iscotlandl RegutIOnS 2CQ6. An examination includes o review of the occounting records kept by the chlty and a comtKJr6on of Ihe acc¢)unts presented Nmth those records. It also includes consid8rotion of any unusuol ilems or disck)sures in tha accounts. ond seeks exFJonotK)n5 from the Iruslees concwning ony such mallers. Ihe procedures undertaken do not Ffovhye oll the evidence Ihot wcxjd be requlred in an audit. and Consequent I do nol exkyess an oudil otxnion on the view grven by the accounts. Ind•p•ndenl examlner's stal•ment In the CCAJf5e of my exominalion. no matter hos come to my attenti l. which gives me reasonable cause to befEve thot in any matwial respect the requirements: to keep occounttng reCcd$ in occ(ydonce wilh Sectic)n 44(1 I lol of the 3J)5 Act and Regukjtion 4 of Ihe 2C06 Accounts RegvlatKJrs. and to prepare occovnts whlch aCCd occounting records and cornpty wth Regjblion 9 of the 2C(16 Accounts RegLrfalwx have not been met, or 2. to which. in my oKNrwon, attention shovld be dru4vn in der to enOts o proper understanding of the occovnts to be reached. an&ing eLtor Innes & PortneT5 Lrr4ted Chartered CertifEd Accountants Dote: 3l,.IzDL4