IRIS Accounts Production v24.2.0.383 Other Company accounts True false Pounds 1.10.22 30.9.23 30.9.23 FY FRS 102 Independent examiner Small companies regime for accounts Full Charities SORP true true false true true true false true false true iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWhSC3314902022-09-30SC3314902023-09-30SC3314902022-10-012023-09-30SC3314902021-09-30SC3314902021-10-012022-09-30SC3314902022-09-30SC331490ns0:CharitableCompanyLimitedByGuarantee2022-10-012023-09-30SC331490ns15:PoundSterling2022-10-012023-09-30SC331490ns11:FRS1022022-10-012023-09-30SC331490ns11:IndependentExaminationCharity2022-10-012023-09-30SC331490ns11:SmallCompaniesRegimeForAccounts2022-10-012023-09-30SC331490ns11:FullAccounts2022-10-012023-09-30SC331490ns11:CharitiesSORP2022-10-012023-09-30SC33149022022-10-012023-09-30SC331490ns16:EnglandWales2022-10-012023-09-30SC331490ns11:RegisteredOffice2022-10-012023-09-30SC331490ns0:Trustee22022-10-012023-09-30SC331490ns0:Trustee32022-10-012023-09-30SC331490ns0:Trustee42022-10-012023-09-30SC331490ns0:Trustee52022-10-012023-09-30SC331490ns0:Trustee62022-10-012023-09-30SC331490ns0:Trustee72022-10-012023-09-30SC331490ns0:Trustee12022-10-012023-09-30SC331490ns11:CompanySecretary12022-10-012023-09-30SC331490ns0:TotalUnrestrictedFunds2022-10-012023-09-30SC331490ns0:TotalRestrictedIncomeFunds2022-10-012023-09-30SC331490ns0:Activity82022-10-012023-09-30SC331490ns0:Activity8ns0:TotalUnrestrictedFunds2022-10-012023-09-30SC331490ns0:Activity8ns0:TotalRestrictedIncomeFunds2022-10-012023-09-30SC331490ns0:Activity82021-10-012022-09-30SC331490ns0:Activity92022-10-012023-09-30SC331490ns0:TotalUnrestrictedFundsns0:Activity92022-10-012023-09-30SC331490ns0:Activity9ns0:TotalRestrictedIncomeFunds2022-10-012023-09-30SC331490ns0:Activity92021-10-012022-09-30SC331490ns0:Activity102022-10-012023-09-30SC331490ns0:TotalUnrestrictedFundsns0:Activity102022-10-012023-09-30SC331490ns0:Activity10ns0:TotalRestrictedIncomeFunds2022-10-012023-09-30SC331490ns0:Activity102021-10-012022-09-30SC331490ns0:Activity112022-10-012023-09-30SC331490ns0:Activity11ns0:TotalUnrestrictedFunds2022-10-012023-09-30SC331490ns0:Activity11ns0:TotalRestrictedIncomeFunds2022-10-012023-09-30SC331490ns0:Activity112021-10-012022-09-30SC331490ns0:Activity132022-10-012023-09-30SC331490ns0:TotalUnrestrictedFundsns0:Activity132022-10-012023-09-30SC331490ns0:TotalRestrictedIncomeFundsns0:Activity132022-10-012023-09-30SC331490ns0:Activity132021-10-012022-09-30SC331490ns0:TotalUnrestrictedFundsns10:PreviouslyStatedAmount2022-09-30SC331490ns10:PreviouslyStatedAmountns0:TotalRestrictedIncomeFunds2022-09-30SC331490ns10:PreviouslyStatedAmount2022-09-30SC331490ns10:PreviouslyStatedAmount2021-09-30SC331490ns0:TotalUnrestrictedFundsns10:PriorPeriodIncreaseDecrease2022-09-30SC331490ns10:PriorPeriodIncreaseDecreasens0:TotalRestrictedIncomeFunds2022-09-30SC331490ns10:PriorPeriodIncreaseDecrease2022-09-30SC331490ns10:PriorPeriodIncreaseDecrease2021-09-30SC331490ns0:TotalUnrestrictedFunds2022-09-30SC331490ns0:TotalRestrictedIncomeFunds2022-09-30SC331490ns0:TotalUnrestrictedFunds2023-09-30SC331490ns0:TotalRestrictedIncomeFunds2023-09-30SC331490ns0:TotalUnrestrictedFundsns10:WithinOneYear2023-09-30SC331490ns0:TotalRestrictedIncomeFundsns10:WithinOneYear2023-09-30SC331490ns10:WithinOneYear2023-09-30SC331490ns10:WithinOneYear2022-09-30SC33149022022-10-012023-09-30SC33149032022-10-012023-09-30SC331490ns10:OwnedAssets2022-10-012023-09-30SC331490ns10:OwnedAssets2021-10-012022-09-30SC331490ns0:TotalUnrestrictedFunds2021-10-012022-09-30SC331490ns0:TotalRestrictedIncomeFunds2021-10-012022-09-30SC331490ns0:Activity8ns0:TotalUnrestrictedFunds2021-10-012022-09-30SC331490ns0:Activity8ns0:TotalRestrictedIncomeFunds2021-10-012022-09-30SC331490ns0:TotalUnrestrictedFundsns0:Activity92021-10-012022-09-30SC331490ns0:Activity9ns0:TotalRestrictedIncomeFunds2021-10-012022-09-30SC331490ns0:TotalUnrestrictedFundsns0:Activity102021-10-012022-09-30SC331490ns0:Activity10ns0:TotalRestrictedIncomeFunds2021-10-012022-09-30SC331490ns0:TotalUnrestrictedFundsns0:Activity132021-10-012022-09-30SC331490ns0:TotalRestrictedIncomeFundsns0:Activity132021-10-012022-09-30SC331490ns10:LandBuildingsns10:OwnedOrFreeholdAssets2022-09-30SC331490ns10:FurnitureFittings2022-09-30SC331490ns10:ComputerEquipment2022-09-30SC331490ns10:LandBuildingsns10:OwnedOrFreeholdAssets2022-10-012023-09-30SC331490ns10:FurnitureFittings2022-10-012023-09-30SC331490ns10:ComputerEquipment2022-10-012023-09-30SC331490ns10:LandBuildingsns10:OwnedOrFreeholdAssets2023-09-30SC331490ns10:FurnitureFittings2023-09-30SC331490ns10:ComputerEquipment2023-09-30SC331490ns10:LandBuildingsns10:OwnedOrFreeholdAssets2022-09-30SC331490ns10:FurnitureFittings2022-09-30SC331490ns10:ComputerEquipment2022-09-30
REGISTERED COMPANY NUMBER: SC331490 (Scotland)
REGISTERED CHARITY NUMBER: SC006310








REPORT OF THE TRUSTEES AND

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2023

FOR

GERRARD STREET BAPTIST CHURCH

GERRARD STREET BAPTIST CHURCH

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023










Page

Report of the Trustees 1 to 3

Independent Examiner's Report 4

Statement of Financial Activities 5

Balance Sheet 6 to 7

Notes to the Financial Statements 8 to 16

GERRARD STREET BAPTIST CHURCH (REGISTERED NUMBER: SC331490)

REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 30 SEPTEMBER 2023



The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 30 September 2023. The trustees have adopted the provisions of 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
Objectives and aims
The object of the church is to advance the Christian religion for the public benefit in the United Kingdom and worldwide through:

The organisation and provision of Christian worship;

The provision of such facilities and services as are appropriate for a Christian Church for the benefit of the members of the Church, visitors to the Church and the local community and the wider community, particularly but not exclusively, in the Aberdeen area;

The support and the prevention and relief of poverty;

The advancement of education;

The provision of facilities for Christian training and service;

The support and provision of Christian evangelism and outreach;

The provision of assistance to the wider Christian Church and its ministries; and

The relief of those in need by reason of age, ill health, disability, financial hardship or other disadvantage.

The Elders' Group is of the view that the activities carried out by the church are all in the furtherance of the stated objectives.

The activities of the church depend, to a significant extent, on the work of members and adherents from within the church who volunteer their own time and skills.

ACHIEVEMENT AND PERFORMANCE
Under the overseeing leadership of our church elders (Trustees), and the line management of our Pastor, our various church ministries are led by Ministry Leaders (largely volunteers) with the support and day-to-day oversight of the Ministry Team (Senior Pastor, Associate Ministers, and Church Administrator). Ad-hoc committees are established from time to time to focus on specific tasks and goals. Administration, Finance and Building Maintenance continue to report directly to our Pastor. Each Ministry Leader has responsibility to administer a budget, agreed by the Trustees, for their area of responsibility.

The team-based model for overseeing the various ministries underwent significant change during this year, beginning with reduced team numbers after the resignation of one of the Associate Ministers at the end of the previous year. Responsibilities were divided amongst the remaining members. In process of considering an additional member of staff the elders thought it necessary to have a more experienced pastor/minister. In the second half of the year, the remaining associate minister resigned to further his ministerial training and the church administrator resigned after completing studies and accepting a position as a counsellor. This leaves only the senior pastor on staff ministry team.

We had an excellent weekend away at the Windmill Christian Centre in Arbroath, where those present were enabled to enjoy fellowship together with some excellent times of worship. We continue to support world mission with a large proportion of our giving. Our community outreach continues. Wednesday Women, our women's drop-in centre has seen increased numbers attending, with referrals from health workers with whom we enjoy excellent relations. Café Church, our monthly informal service that we hold in a "café style", also continues to thrive and attract those who do not attend our regular Sunday morning worship service. The building is being used by a variety of community groups at various times and in different rooms. Throughout the year it has been used for two dance groups, children's dance classes, a community men's mental health support group, an Aberdeen councillor's women's group and we support the Christian Union from the Robert Gordon University who meet in the East Wing of the Church.


GERRARD STREET BAPTIST CHURCH (REGISTERED NUMBER: SC331490)

REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 30 SEPTEMBER 2023


FINANCIAL REVIEW
Financial position
The income of the church comes mainly from voluntary contributions and is spent on running costs and contributions to missionary societies and missionaries.

Unrestricted funds are showing a surplus for the year of £241,000 (2022: £227,258 restated surplus) and the Restricted funds are showing a surplus for the year of £12,572 (2022: £13,447). The church's Unrestricted funds at the year end were £1,800,511 and also hold Restricted funds of £65,164. The reserves at the balance sheet date amounted to £1,865,675.

Reserves policy
The church carries financial reserves at a level it considers suitable and necessary for the future work of the church. Being a city centre church with a traditional church building there is a necessity to maintain funds to a level which would permit major repairs or relocation.

The Elders' Group has assessed the major risks to which the church is exposed, in particular those relating to the operations and finances of the church, and are taking appropriate steps to minimise this risk.

FUTURE PLANS
Our priorities for the coming year are to focus on church prayer life by holding regular prayer weeks and a Sunday morning prayer meeting. Staffing priorities will be to employ a Church Administrator with clear administrative gifting and to employ an experienced additional pastor to support the senior pastor. We shall continue to have regular extended leadership meetings with the ministry leaders.

We continue to aim towards becoming a CAP debt Centre as part of our mission focus.

We still hope to continue with the development of our auditorium and the West Phase of our building project.

STRUCTURE, GOVERNANCE AND MANAGEMENT
The church was originally constituted as Gilcomston Park Baptist Church in 1894 and changed its name to Gerrard Street Baptist Church when it took occupation of premises in Gerrard Street, Aberdeen in 1988. On 26 September 2007, a private company limited by guarantee and not having a share capital (number 331490) named Gerrard Street Baptist Church was formed. On 1 October 2007 the whole assets and undertaking of the former charitable unincorporated association were transferred to a new company limited by guarantee, which is also recognised as a charity (SC006310).

The Elders (trustees) of the church act as directors of the company. The Elders' Group comprises elders, who are elected by the church for a three year period, and elders who are also appointed by the church as Pastors. Elders of the former unincorporated association were appointed as elders of the company. The Elders' Group appoint the company secretary and church treasurer on behalf of the church. The normal process for election includes seeking nominations from the congregation. Elders are those whom the Elders consider to meet the Biblical qualification for Elders, as deemed by the Elders' Group, will have their name put forward to the church in General Meeting for election. Elders' elections will normally be held annually at the Annual General meeting.

Training for Elders will be ongoing and informal. Current thinking in pastoral and practical theology will be considered as a regular part of the Elders' meeting together. The Elders' Group undertakes the legal responsibilities of directors of the company and are also responsible for the strategic direction and pastoral wellbeing of the church although they are also, individually, part of the broader aspects of the church's life.

The current Elder's Group contains a diverse and skilled group of individuals who the church believes are suited to and qualified for this role. Annual elections will be held enabling the church to add to the Elders' Group on a regular basis as they see fit.

The church is affiliated to the Baptist Union of Scotland. The Union is made up of completely autonomous churches and so the church is free to manage its own affairs. However, our practice has been to accept guidance from the Baptist Union on increases in salary, expenses and allowances paid to our employed staff.

REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
SC331490 (Scotland)

Registered Charity number
SC006310


GERRARD STREET BAPTIST CHURCH (REGISTERED NUMBER: SC331490)

REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 30 SEPTEMBER 2023


Registered office
Gerrard Street Baptist Church
Gerrard Street
Aberdeen
Aberdeenshire
AB25 1HA

Trustees
Mr F I Anderson Solicitor
Rev M Henderson Pastor (resigned 29/3/24)
Mr J P Reed Global Core Analysis Manager
Dr K Yates (resigned 30/6/23)
Dr A I Osofero University Lecturer
Mr B Sutherland Software Developer (appointed 6/8/23)
Mr L M Tsyokpoh Treasury Manager (appointed 6/8/23)

Company Secretary
Mr F I Anderson

Independent Examiner
Graham W Thomson
Bain Henry Reid
Chartered Accountants
4 West Craibstone Street
Bon-Accord Square
ABERDEEN
AB11 6YL

Approved by order of the board of trustees on 3 November 2024 and signed on its behalf by:





Mr F I Anderson - Trustee

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF
GERRARD STREET BAPTIST CHURCH



I report on the accounts for the year ended 30 September 2023 set out on pages five to sixteen.

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 (as amended). The charity's trustees consider that the audit requirement of Regulation 10(1)(a) to (c) of the 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 the independent examiner's report
My examination was carried out in accordance with Regulation 11 of the Charities Accounts (Scotland) Regulations 2006. 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 seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently I do not express an audit opinion on the view given by the accounts.

Independent examiner's statement
In connection with my examination, no matter has come to my attention :

(1) which gives me reasonable cause to believe that, in any material respect, the requirements

- 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 accounts which accord with the accounting records and to comply with Regulation 8 of the 2006 Accounts Regulations

have not been met; or

(2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.








Graham W Thomson
The Institute of Chartered Accountants of Scotland

Bain Henry Reid
Chartered Accountants
4 West Craibstone Street
Bon-Accord Square
ABERDEEN
AB11 6YL

3 November 2024

GERRARD STREET BAPTIST CHURCH

STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 30 SEPTEMBER 2023

2023 2022
Unrestricted Restricted Total Total
funds funds funds funds
as restated
Notes £    £    £    £   
INCOME AND ENDOWMENTS FROM
Donations and legacies 468,136 23,703 491,839 473,848

Other income 3,785 - 3,785 5,000
Total 471,921 23,703 495,624 478,848

EXPENDITURE ON
Charitable activities 2
Staff costs 99,739 - 99,739 130,929
Depreciation and impairment 27,556 - 27,556 27,513
Finance and admin 38,808 - 38,808 30,610
City and student ministries 1,495 940 2,435 1,209
Prayer and praise 870 - 870 751
Mission to our world 38,865 - 38,865 31,400
Children and youth 2,118 80 2,198 319
Mission to our street 1,770 2,965 4,735 714
Building and maintenance 2,972 7,146 10,118 1,848
Office and cleaning 4,694 - 4,694 2,747
Leadership 978 - 978 564
Kitchen and catering 662 - 662 182
Other 5,524 - 5,524 4,497
Support costs 50 - 50 -
Governance costs 4,820 - 4,820 4,860
Total 230,921 11,131 242,052 238,143

NET INCOME 241,000 12,572 253,572 240,705


RECONCILIATION OF FUNDS
Total funds brought forward
As previously reported 1,279,511 52,592 1,332,103 1,371,398
Prior year adjustment 8 280,000 - 280,000 -
As restated 1,559,511 52,592 1,612,103 1,371,398

TOTAL FUNDS CARRIED FORWARD 1,800,511 65,164 1,865,675 1,612,103

GERRARD STREET BAPTIST CHURCH (REGISTERED NUMBER: SC331490)

BALANCE SHEET
30 SEPTEMBER 2023

2023 2022
Unrestricted Restricted Total Total
funds funds funds funds
as restated
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 9 969,769 - 969,769 997,325

CURRENT ASSETS
Debtors 10 84,229 258 84,487 333,003
Cash at bank 760,554 64,906 825,460 295,274
844,783 65,164 909,947 628,277

CREDITORS
Amounts falling due within one year 11 (14,041 ) - (14,041 ) (13,499 )

NET CURRENT ASSETS 830,742 65,164 895,906 614,778

TOTAL ASSETS LESS CURRENT LIABILITIES 1,800,511 65,164 1,865,675 1,612,103

NET ASSETS 1,800,511 65,164 1,865,675 1,612,103
FUNDS 12
Unrestricted funds 1,800,511 1,559,511
Restricted funds 65,164 52,592
TOTAL FUNDS 1,865,675 1,612,103

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2023.


The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2023 in accordance with Section 476 of the Companies Act 2006.


The trustees acknowledge their responsibilities for
(a)ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.


GERRARD STREET BAPTIST CHURCH (REGISTERED NUMBER: SC331490)

BALANCE SHEET - continued
30 SEPTEMBER 2023

These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.


The financial statements were approved by the Board of Trustees and authorised for issue on 3 November 2024 and were signed on its behalf by:





Mr L M Tsyokpoh - Trustee





Mr F I Anderson - Trustee

GERRARD STREET BAPTIST CHURCH

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023


1. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Going concern
At the time of approving the accounts, the trustees have a reasonable expectation that the charity 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.

Financial reporting standard 102 - reduced disclosure exemptions
The charitable company has taken advantage of the following disclosure exemption in preparing these financial statements, as permitted by FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland':

the requirements of Section 7 Statement of Cash Flows.

Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Cash donations are recognised on receipt. Other donations are recognised once the charity 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.

Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, 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 accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category and include irrecoverable VAT. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Charitable activities
Charitable activities are incurred in direct pursuance of the charity's principal objectives and as set out in the trustees' report, and includes staff costs, project costs, governance and administrative costs.

Governance costs
Governance costs include those costs associated with meeting the constitutional and statutory requirements of the charity and include independent examination fees.

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. Fixed assets costing £500 or more are capitalised.

Depreciation is recognised so as to write off cost or valuation of assets less their residual values over their estimated useful lives on the following bases:

LandNil
Buildings2% straight line
Fixtures and fittings10% straight line
Computer equipment20% straight line

No depreciation has been charged for freehold property in the year as the trustees are of the opinion that residual value is not materially lower than cost.

Taxation
The charity is exempt from corporation tax on its charitable activities.

GERRARD STREET BAPTIST CHURCH

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2023


1. ACCOUNTING POLICIES - continued

Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Designated funds are amounts set aside by the trustees out of the unrestricted funds for specific future purposes or projects.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

Pension costs and other post-retirement benefits
The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

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 charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Debtors
Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

Cash at bank and in hand
Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of similar account.

Creditors
Creditors are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors are recognised at their settlement amount after allowing for any trade discounts due.

Financial Instruments
The charity only has financial assets and liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

2. CHARITABLE ACTIVITIES COSTS
Support
Direct costs (see
Costs note 3) Totals
£    £    £   
Staff costs 99,739 - 99,739
Depreciation and impairment 27,556 - 27,556
Finance and admin 38,808 - 38,808
City and student ministries 2,435 - 2,435
Prayer and praise 870 - 870
Mission to our world 38,865 - 38,865
Children and youth 2,198 - 2,198
Mission to our street 4,735 - 4,735
Building and maintenance 10,118 - 10,118
Office and cleaning 4,694 - 4,694
Leadership 978 - 978
Kitchen and catering 662 - 662
Other 5,524 - 5,524
Support costs - 50 50
Governance costs - 4,820 4,820
237,182 4,870 242,052

GERRARD STREET BAPTIST CHURCH

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2023


3. SUPPORT COSTS
Governance
Finance costs Totals
£    £    £   
Support costs 50 - 50
Governance costs - 4,820 4,820
50 4,820 4,870

4. NET INCOME/(EXPENDITURE)

Net income/(expenditure) is stated after charging/(crediting):

2023 2022
as restated
£    £   
Depreciation - owned assets 27,556 27,513

5. TRUSTEES' REMUNERATION AND BENEFITS

During the year Rev Matthew Henderson, trustee, received remuneration of £53,247 (2022: £51,447) and the charity made pension contributions of £3,994 (2022: £3,859) on his behalf.

Trustees' expenses

During the year £3,506 (2022: £3,377) was paid in respect of rates on behalf of a trustee as a result of their role as an employee and not as a result of their role as a trustee.

Payments to trustees are authorised under section 37 of the charity's Memorandum and Articles of Association.

6. STAFF COSTS
2023 2022
as restated
£    £   
Wages and salaries 85,345 113,213
Social security costs 7,888 9,702
Other pension costs 6,383 8,014
99,616 130,929

The average monthly number of employees during the year was as follows:

2023 2022
as restated
Employees 4 6

No employees received emoluments in excess of £60,000.

The charity has no key management personnel other than the trustees. Transactions with trustees are shown in note 5.


GERRARD STREET BAPTIST CHURCH

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2023


7. STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 SEPTEMBER 2021
Unrestricted Restricted Total
funds funds funds
as restated
£    £    £   
INCOME AND ENDOWMENTS FROM
Donations and legacies 459,382 14,466 473,848

Other income 5,000 - 5,000
Total 464,382 14,466 478,848

EXPENDITURE ON
Charitable activities
Staff costs 130,929 - 130,929
Depreciation and impairment 27,513 - 27,513
Finance and admin 30,610 - 30,610
City and student ministries 1,209 - 1,209
Prayer and praise 751 - 751
Mission to our world 31,400 - 31,400
Children and youth 319 - 319
Mission to our street 714 - 714
Building and maintenance 1,848 - 1,848
Office and cleaning 2,747 - 2,747
Leadership 564 - 564
Kitchen and catering 182 - 182
Other 3,478 1,019 4,497
Governance costs 4,860 - 4,860
Total 237,124 1,019 238,143

NET INCOME 227,258 13,447 240,705


RECONCILIATION OF FUNDS
Total funds brought forward 1,332,253 39,145 1,371,398

TOTAL FUNDS CARRIED FORWARD 1,559,511 52,592 1,612,103

8. PRIOR YEAR ADJUSTMENT

The accounts have been restated to incorporate the impact of an unrecorded debtor of £280,000 in the 2022 figure. This relates to a legacy that was due to the Church as at 30/09/2022 but not received until 2023 due to the delay in the funds being received from the estate.

The change has resulted in the net income surplus for the year to 30/09/2023 being reduced by £280,000 as detailed on the Statement of Financial Activities on page 5.


GERRARD STREET BAPTIST CHURCH

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2023


9. TANGIBLE FIXED ASSETS
Fixtures
Freehold and Computers
property fittings & equipment Totals
£    £    £    £   
COST
At 1 October 2022 and 30 September 2023 1,058,422 58,021 133,472 1,249,915
DEPRECIATION
At 1 October 2022 86,492 52,151 113,947 252,590
Charge for year 19,146 1,230 7,180 27,556
At 30 September 2023 105,638 53,381 121,127 280,146
NET BOOK VALUE
At 30 September 2023 952,784 4,640 12,345 969,769
At 30 September 2022 971,930 5,870 19,525 997,325

Included in cost or valuation of land and buildings is freehold land of £50,568 (2022 - £50,568) which is not depreciated.

10. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
as restated
£    £   
Other debtors 80,400 330,377
Prepayments 4,087 2,626
84,487 333,003

11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
as restated
£    £   
Social security and other taxes 1,232 1,835
Accrued expenses 12,809 11,664
14,041 13,499

12. MOVEMENT IN FUNDS
Prior Net
At year movement At
1/10/22 adjustment in funds 30/9/23
£    £    £    £   
Unrestricted funds
General Fund 143,672 280,000 267,410 691,082
Designated Building Fund 259,395 - (7,264 ) 252,131
Designated Fixed Asset Fund 876,444 - (19,146 ) 857,298
1,279,511 280,000 241,000 1,800,511
Restricted funds
Building Fund 50,320 - 12,572 62,892
Cooking classes 51 - - 51
Community Support 2,221 - - 2,221
52,592 - 12,572 65,164
TOTAL FUNDS 1,332,103 280,000 253,572 1,865,675

GERRARD STREET BAPTIST CHURCH

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2023


12. MOVEMENT IN FUNDS - continued

Net movement in funds, included in the above are as follows:

Incoming Resources Movement
resources expended in funds
£    £    £   
Unrestricted funds
General Fund 471,921 (204,511 ) 267,410
Designated Building Fund - (7,264 ) (7,264 )
Designated Fixed Asset Fund - (19,146 ) (19,146 )
471,921 (230,921 ) 241,000
Restricted funds
Building Fund 19,718 (7,146 ) 12,572
Community Support 3,985 (3,985 ) -
23,703 (11,131 ) 12,572
TOTAL FUNDS 495,624 (242,052 ) 253,572


Comparatives for movement in funds

Net Transfers
At movement between At
1/10/21 in funds funds 30/9/22
£    £    £    £   
Unrestricted funds
General Fund 144,824 253,848 25,000 423,672
Designated Building Fund 291,839 (7,444 ) (25,000 ) 259,395
Designated Fixed Asset Fund 895,590 (19,146 ) - 876,444
1,332,253 227,258 - 1,559,511
Restricted funds
Building Fund 36,154 14,166 - 50,320
Cooking classes 51 - - 51
Community Support 2,940 (719 ) - 2,221
39,145 13,447 - 52,592
TOTAL FUNDS 1,371,398 240,705 - 1,612,103

GERRARD STREET BAPTIST CHURCH

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2023


12. MOVEMENT IN FUNDS - continued

Comparative net movement in funds, included in the above are as follows:

Incoming Resources Movement
resources expended in funds
£    £    £   
Unrestricted funds
General Fund 464,382 (210,534 ) 253,848
Designated Building Fund - (7,444 ) (7,444 )
Designated Fixed Asset Fund - (19,146 ) (19,146 )
464,382 (237,124 ) 227,258
Restricted funds
Building Fund 14,166 - 14,166
Community Support 300 (1,019 ) (719 )
14,466 (1,019 ) 13,447
TOTAL FUNDS 478,848 (238,143 ) 240,705

A current year 12 months and prior year 12 months combined position is as follows:

Prior Net Transfers
At year movement between At
1/10/21 adjustment in funds funds 30/9/23
£    £    £    £    £   
Unrestricted funds
General Fund 144,824 280,000 521,258 25,000 971,082
Designated Building Fund 291,839 - (14,708 ) (25,000 ) 252,131
Designated Fixed Asset Fund 895,590 - (38,292 ) - 857,298
1,332,253 280,000 468,258 - 2,080,511
Restricted funds
Building Fund 36,154 - 26,738 - 62,892
Cooking classes 51 - - - 51
Community Support 2,940 - (719 ) - 2,221
39,145 - 26,019 - 65,164
TOTAL FUNDS 1,371,398 280,000 494,277 - 2,145,675

GERRARD STREET BAPTIST CHURCH

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2023


12. MOVEMENT IN FUNDS - continued

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

Incoming Resources Movement
resources expended in funds
£    £    £   
Unrestricted funds
General Fund 936,303 (415,045 ) 521,258
Designated Building Fund - (14,708 ) (14,708 )
Designated Fixed Asset Fund - (38,292 ) (38,292 )
936,303 (468,045 ) 468,258
Restricted funds
Building Fund 33,884 (7,146 ) 26,738
Community Support 4,285 (5,004 ) (719 )
38,169 (12,150 ) 26,019
TOTAL FUNDS 974,472 (480,195 ) 494,277

The general funds are unrestricted funds which the trustees are free to use in accordance with the charitable objectives.

The Designated Building Fund represents amounts set aside from unrestricted funds to cover any shortfall in restricted funding being used for the renovation of the church and adjacent buildings.

The Designated Fixed Asset Fund represents the net book value of completed assets constructed by the charity. Every year an amount is transferred to or from the fund to represent the movement in net book value of completed constructed assets in the year.

Purpose of Restricted Funds
Building Fund
Funding specifically to be used for the renovation of the church and adjacent buildings.

Mainly Music
Funds to be used for the running of the Mainly Music programme, a children's music group.

Cooking Classes
Funding to be used to run cooking classes.

Community Support
Funding to be used to assist the community.

13. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 30 September 2023.


GERRARD STREET BAPTIST CHURCH

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2023


14. ULTIMATE CONTROLLING PARTY

Throughout the year the charity was controlled by the trustees.

15. LEGAL STATUS

The charity is a company limited by guarantee and has no share capital. The liability of each member in the event of the company winding up is limited to £1.