EMSWORTH BAPTIST CHURCH TRUST
Registered number: 06129852
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 1,719,831 1,699,300
Current assets
Cash at bank and in hand 36,482 35,423
Creditors: amounts falling due within one year 4 (45,000) (58,573)
Net current liabilities (8,518) (23,150)
Total assets less current liabilities 1,711,313 1,676,150
Creditors: amounts falling due after more than one year 5 (200,000) (225,922)
Net assets 1,511,313 1,450,228
Funds
Restricted funds 1,511,313 1,450,228
Total funds 1,511,313 1,450,228
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
T A Holmes
Director
Approved by the board on 9 May 2024
EMSWORTH BAPTIST CHURCH TRUST
Notes to the Accounts
for the year ended 31 December 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland.
Turnover
Turnover represents the total of voluntary income received in the year.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Cabins 10% straight line
Plant and machinery 10% reducing balance
Fixtures, fittings, tools and equipment 10% reducing balance
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company - -
3 Tangible fixed assets
Land and buildings Plant and machinery etc Cabins Total
£ £ £ £
Cost
At 1 January 2023 1,948,743 53,953 - 2,002,696
Additions - 783 67,923 68,706
At 31 December 2023 1,948,743 54,736 67,923 2,071,402
Depreciation
At 1 January 2023 272,746 30,650 - 303,396
Charge for the year 38,975 2,408 6,792 48,175
At 31 December 2023 311,721 33,058 6,792 351,571
Net book value
At 31 December 2023 1,637,022 21,678 61,131 1,719,831
At 31 December 2022 1,675,997 23,303 - 1,699,300
4 Creditors: amounts falling due within one year 2023 2022
£ £
SCBA and Baptist Union loans 4,000 58,573
Short-term loans from members of the congregation 35,000 -
Other creditors 6,000 -
45,000 58,573
The trustees have agreed to pay a further £4,000 over and above the loan balance to the SCBA
as a gesture of goodwill in respect of the interest-free loan provided by them. As this is a
voluntary payment no provision has been made in these accounts for this extra payment.
5 Creditors: amounts falling due after one year 2023 2022
£ £
SCBA and Baptist Union loans - 25,922
Other creditors 200,000 200,000
200,000 225,922
6 Loans 2023 2022
£ £
Creditors include:
Amounts payable otherwise than by instalment falling due for payment after more than five years 200,000 200,000
7 Controlling party
There is no controlling party, the company is limited by guarantee.
8 Other information
EMSWORTH BAPTIST CHURCH TRUST is a private company limited by guarantee and incorporated in England. Its registered office is:
North Street, Emsworth, Hampshire, PO10 7BY
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