PURLEY BAPTIST CHURCH
Financial health, per its FY2023 accounts
The accounts state that the church recorded a net loss for the year, largely due to unplanned building spending and an in-year pay award to staff. Despite this, the church maintains free reserves of £206,000, which is below its stated policy target of approximately £250,000. The auditor confirmed that the use of the going concern basis of accounting is appropriate with no material uncertainties identified.
What the accounts disclose
“The Leadership Team has established a policy whereby the unrestricted funds not committed or invested in tangible fixed assets (“the free reserves”) held by the church should be around 3 months essential expenditure plus a provision for possible fluctuations in income. This equates to approximately £250,000.” — page 5
“The total other loans of £147,000 represent unsecured interest free loans from church members and friends.”
“The Church has a subsidiary company, 58:12 which was formed to carry out the proposed development of the island site in Purley.” — page 3
Structured financials (annual return, FY ending 31/12/2024)
Trustees
- Ben Quartey-Papafio
- Daniel Edward Morris
- David Clarke
- Helen Patricia Harris
- Jennifer Hazel Giles
- Moyosoreoluwa Oyelade
- Olumide Lala
- Rev James Michael Collins
- Timothy Allen
Income and spending
| Financial year end | Income | Spending |
|---|---|---|
| 31/12/2024 | £955k | £772k |
| 31/12/2023 | £692k | £701k |
| 31/12/2022 | £691k | £668k |
| 31/12/2021 | £612k | £560k |
| 31/12/2020 | £621k | £573k |
Common questions
Is PURLEY BAPTIST CHURCH financially healthy?
The accounts state that the church recorded a net loss for the year, largely due to unplanned building spending and an in-year pay award to staff. Despite this, the church maintains free reserves of £206,000, which is below its stated policy target of approximately £250,000. The auditor confirmed that the use of the going concern basis of accounting is appropriate with no material uncertainties identified. Its FY2023 accounts were audited by Shaw Gibbs (Audit) Limited.