STOPSLEY BAPTIST CHURCH - Filleted accounts

Registered number

07605036

STOPSLEY BAPTIST CHURCH

Filleted Accounts

31 December 2024

STOPSLEY BAPTIST CHURCH
Registered number:		07605036
Balance Sheet
as at 31 December 2024

Notes			2024			2023
£				£
Fixed assets
Tangible assets			1,777,668			1,777,668

Current assets
Debtors	4	23,552			16,310
Cash at bank and in hand		215,028			343,733
		238,580			360,043

Creditors: amounts falling due within one year	5	(59,528)			(67,448)

Net current assets			179,052			292,595

Net assets			1,956,720			2,070,263

Capital and reserves
Unrestricted funds - General			1,881,049			1,903,519
Unrestricted funds - Designated			2,033			115,766
Restricted funds			73,638			50,978

Shareholders' funds			1,956,720			2,070,263

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.




Mr N Mattocks
Director
Approved by the board on 2 September 2025

STOPSLEY BAPTIST CHURCH
Notes to the Accounts
for the year ended 31 December 2024


1	Accounting policies

	Basis of preparation
	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.

	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.

	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. 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 expenditure comprises those costs incurred by the charity in the delivery of activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them. Governance costs include those costs associated with meeting the constitutional and stautory requirements of the charity and include the audit fees and costs linked to strategic management.

	Allocation and apportionment of costs
	All costs are allocated between the expenditure categories of the SOFA on a basis designed to reflect the use of the resource. Costs relating to a particular activity are allocated directly, others are apportioned on an appropriate basis e.g. time spent or estimated usage as set out in Notes 5 to 8 of the full financial statements.

	Tangible fixed assets
	The custodian trustee for the church land and buildings is the Baptist Union of Great Britain Trust. The Trust holds the deeds for the following: Church premises - main 1,304,000 Old Chapel - GreenHouse 373,774 Land next to GreenHouse 99,894 Total Land & Buildings £1,777,668 The current church premises were built in 1994. The property is shown at historic cost within the financial statements.The Old Chapel Building was built in 1869 and was converted for use as a youth centre in 2002. There is no cost included for the original chapel but the refurbishment is included at cost. The land next to it was purchased in 2002 and is included at cost. The trustees have had the above professionally valued in July 2017, and the open market value of land and buildings exceeds their historic cost for the "current use" of the assets. No depreciation has been charged for buildings due to this valuation. Equipment costing below £5,000 is not capitalised. Items costing over £5,000 purchased since 1 January 2009 are capitalised. Depreciation is provided at rates calculated to write off the cost of each asset over its expected life. Office equipment depreciation is 20% per year.

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

	Fund accounting
	Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. Designated funds are unrestricted funds available for the general purposes of the organisation, but which have currently been earmarked for a particular purpose.by the trustees. 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 full financial statements.

	Pension costs and other post-retirement benefits
	The charitable company operated a defined contribution pension scheme. The obligations ceased when the minister left the scheme. Any contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate. The charity also makes payments into the The Peoples Pension. Contributions payable to these are charged to the Statement of Financial Activities in the period to which they relate.

2	Audit information

	The audit report is unqualified.

	Senior statutory auditor:	Mr D M Brown FCA
	Firm:	Higginson & Co UK Ltd
	Date of audit report:	02 September 2025


3	Employees		2024		2023
Number				Number

	Average number of persons employed by the company		13		12


4	Debtors		2024		2023
£				£

	Other debtors		23,552		16,310


5	Creditors: amounts falling due within one year		2024		2023
£				£

	Other taxes and social security costs		8,139		5,236
	Other creditors		51,389		62,212
			59,528		67,448


6	Pension commitments

	During part of the year, the Church was a participating employer the Baptist Pension Scheme (“the Scheme”), which is a separate legal entity administered by the Pension Trustee (Baptist Pension Trust Limited). The Scheme, previously known as the Baptist Ministers Pension Fund, started in 1925. At the beginning of the financial year, the scheme comprised of a defined benefits scheme which was closed to future accrual on 31 December 2011 and a defined contribution plan which was opened in January 2012.The assets of the Scheme are held separately from those of the Employer and the other participating employers.
	For the current financial year, the pension provision for members of the Scheme is being made through the Defined Contribution (DC) Plan. In general, members pay 8% of their Pensionable Income and employers pay 6% of members’ Pensionable Income into individual pension accounts, which are operated and managed on behalf of the Pension Trustee by Broadstone Corporate Benefits Ltd. In addition, the employer pays a further 4% of Pensionable Income to cover Death in Service Benefits, administration costs, and an associated insurance policy which provides income protection for Scheme members if they are unable to work due to long-term incapacity. This income protection policy has been insured by the Baptist Union of Great Britain with Aviva Limited. Furthermore, members of the Basic Section pay reduced contributions of 5% of Pensionable Income, and their employers also pay a total of 5%.
	In October 2024, the insurance company Just Group completed a buy out of the liabilities of the closed defined benefit scheme. From that date any remaining liability of the participating scheme members to defined benefit scheme ceased and the £1 per month deficit contributions payable by the participating employers which were agreed in the recovery plan approved in August 2022 also ceased from that date. Administration of the closed defined benefit scheme transferred from the pension trustees to Just Group from that date. Any liability with the pension scheme ceased when the minster left the church and scheme.

	Movement in Balance Sheet liability Section 28.11A of FRS 102 requires agreed deficit recovery payments to be recognised as a liability. There is no current liability to be disclosed, and no further liability is expected.. The profit and loss charge for the period represents the employer contributions payable. The total pension cost for the Church paid to the Baptist Pension Scheme is £3,219 (2023 £4,531). Contributions were also made to The Peoples Pension of £6,389 (2023 £5,168).

7	Related party disclosure

	There are no related party transactions.

8	Other information

	Stopsley Baptist Church is a Private Company Limited by Guarantee and incorporated in England. Its registered office is:
	Stopsley Baptist Church
	St Thomas' Road
	Luton
	Beds
	LU2 7XP