2021
ANNUAL REPORT & ACCOUNTS
FINDON VALLEY FREE CHURCH (BAPTIST)
1 | P a g e
Table of Contents
2 | P a g e
FINDON VALLEY FREE CHURCH (BAPTIST)
----- Start of picture text -----
Bankers
----- End of picture text -----
Independent Examiner
3 | P a g e
TRUSTEES REPORT 2021
STRUCTURE, GOVERNANCE AND MANAGEMENT
REVIEW OF FINANCIAL POSITION
4 | P a g e
RESERVES POLICY
RISK MANAGEMENT
ACTIVITIES
Church Mission Statement
5 | P a g e
Secretary’s Report 2021
6 | P a g e
Details of Significant Activities
Moderator’s Report
Minister’s Report
7 | P a g e
8 | P a g e
FINDON VALLEY FREE CHURCH (BAPTIST)
STATEMENT OF ACCOUNTS
YEAR ENDED 31ST DECEMBER, 2021
STATEMENT OF CHARITY TRUSTEES (DEACONS) RESPONSIBILITIES
9 | P a g e
INDEPE14DENT EXAMINERS REPORT ON THE ACCOUNTS I report to the twstees w my examination of the aicount5 of Fitthn V4lleY Free Church f(*the year ended 31st Dernber 2021. AS the charity's truStee5. you re5PDn51bk for the preparatlon of the aC¢tyJOts 14 acrordance wlth the requlrements of the J)rttyes Art 201L 1.the Att). Responslblllles and ba9iS tsl report In respett of my examirotion of Ihe chèrity'5 accounts carrled Dut under settlon L4S of the 2011 Act alld In carrying out my exarnlnatlon. I h?ve followed all the appli(able Directlons glveffl by the ch•tY CDmmi&sion undef 14515llbl of the Att. Indepondont examln•r's ststemenl ave compleied rny ex8minati¢n. I ihèt DD rnaterial rnatte have come to my attent)n in connect th the exatnlfflatlon whlth glves me Ca$e to believe thèt in, any materlal r@SCl.. the accounti records wlere not kept in accordance wlth 5ectloffl 130 of the Chadties Att., Or the accounts dld not with the aECOUfitlng records,. or the ac(DUnt5 did not comply wlth the appllcablé reqvlrem¢Thts ¢oo¢ernin¢ the lortn and LDntent ol èc¢Duhts set Out ID the Charitie5 (Accounts 3nd Reporfsl Rogulaiions 2008 Other thèn any requlrément th?I the )c¢ounts 9ive a'true ènd kirf vie¥y which not a rn¥tter conslderel as part of an Independent examln¥tbn I have no concern5 and have come across no other rn¥tters In Connertion with the eXa[ninOn to whlch attention should be drawn In th15 report In order to Trat@ a proper understanding of the accounts to be re)ched. Name J FCIE Date hAprIl2O22 Independent Examlner5 Ltd Unit 2 The Broadbrittge Buslness Centre Bosharn West Sussex P018 8NF IOIPage
11 | P a g e
STATEMENT OF FINANCIAL ACTIVITIES 2021
| INCOME AND ENDOWMENTS FROM: | INCOME AND ENDOWMENTS FROM: | Funds | Total Funds | Total Funds | |||
|---|---|---|---|---|---|---|---|
| Note | **Unrestricted ** | Designated | Restricted | Endowment | 2021 | 2020 | |
| £ | £ | £ | £ | £ | |||
| Donations and Legacies | 4a | 51,905 | 5 | 5,573 | 57,483 | 62,341 | |
| Raising Funds Preschool and Organisations |
4b |
42,732 | 42,732 | 29,136 | |||
| Investments | 4c | 18,853 | 4,446 | 23,299 | 13,295 | ||
| Charitable Activities | 4d | 20 | 386 | 163 | 569 | 948 | |
| Other incoming resources | 4e | 10 | 10 | 101 | |||
| Total Income | 70,788 | 4,837 | 48,468 | 124,093 | 105,821 | ||
| EXPENDITURE ON: | |||||||
| Raising Funds - PreSchool | 5a | 37,161 | 37,161 | 24,798 | |||
| Raising Funds | 5b | 1,346 | 1,346 | 2,158 | |||
| Charitable Activities | 5c | 69,207 | 13,509 | 5,890 | 88,606 | 56,940 | |
| Total Expenditure | 69,207 | 13,509 | 44,397 | 127,113 | 83,896 | ||
| Net Income/(Expenditure) - before transfers |
1,581 | -8,672 | 4,071 | 0 | -3,020 | 21,925 | |
| Transfers Between Funds | |||||||
| Gross transfers -in | 12 | 0 | 0 | ||||
| Gross transfers -out | 12 | 0 | 0 | ||||
| Net Gains/(losses)on investment | |||||||
| assets | 0 | 0 | 8,275 | 8,275 | 8,034 | ||
| Actuarial gain/loss on Defined Benefit | |||||||
| Pension Scheme | 15 | 4,225 | 0 | 4,225 | 12,927 | ||
| Net movement in Funds | 5,806 | -8,672 | 4,071 | 8,275 | 9,480 | 42,886 | |
| Total Funds brought forward | 95,498 | 151,836 | 11,133 | 3,177,042 | 3,435,509 | 3,392,623 | |
| Total Funds carried forward | 101,304 | 143,164 | 15,204 | 3,185,317 | 3,444,989 | 3,435,509 |
"there may be discrepancies in the totals if pence are not being shown"
12 | P a g e
FINDON VALLEY FREE CHURCH (BAPTIST)
1. ACCOUNTING POLICIES
a.
e.
13 | P a g e
14 | P a g e
2. FIXED ASSETS
| IXED ASSETS | |||||
|---|---|---|---|---|---|
| At the beginning of the year Additions Revaluations Disposals At end of year Net book value at the beginning of the year Net book value at the end of year |
Freehold land & buildings £ |
Other land & buildings £ |
Plant, Machinery & Motor vehicles £ |
Fixtures, Fittings & equipment £ |
Total £ |
| 3,177,042 | 3,177,042 | ||||
| 8,275 | 8,275 | ||||
| 3,185,317 | 3,185,317 | ||||
| 3,177,042 | 3,177,042 | ||||
| 3,185,317 | 3,185,317 |
3. ENDOWMENT FUND
15 | P a g e
FINDON VALLEY FREE CHURCH (BAPTIST)
NOTES TO ACCOUNTS (continued)
4. Analysis of Income
| 4.a) | Donations and Legacies | ||||||
|---|---|---|---|---|---|---|---|
| Analysis | Unrestricted | Designated | Restricted | 2021 | 2020 | ||
| £ | £ | £ | £ | £ | |||
| Donations and Gifts | 231 | 5 | 3,897 | 4,133 | 3,975 | ||
| Gift Aid Donations | 31,181 | 31,181 | 35,390 | ||||
| Legacies | - | 1,000 | |||||
| Cash Collections | 7,182 | 7,182 | 6,516 | ||||
| Envelope | 4,538 | 740 | 5,278 | 5,000 | |||
| Gift Aid Tax Refund | 8,773 | 936 | 9,709 | 10,459 | |||
| 51,905 | 5 | 5,573 | 57,483 | 62,341 | |||
| 4.b) | Raising funds Preschool | and Organisations | |||||
| Analysis | Unrestricted | Designated | Restricted | 2021 | 2020 | ||
| £ | £ | £ | £ | £ | |||
| Bookstall | 358 | 358 | 507 | ||||
| Luncheon Club | - | 1,114 | |||||
| Step Inside Coffee Shop | 1,049 | 1,049 | 771 | ||||
| Pre-School | 26,744 | ||||||
| Fees | 13,187 | 13,187 | |||||
| Vouchers(WSCC) | 28,138 | 28,138 | |||||
| Bank interest | 1 | 1 | |||||
| 42,732 | 42,732 | 29,136 | |||||
| 4.c) | Investments | ||||||
| Analysis | Unrestricted | Designated | Restricted | 2021 | 2020 | ||
| £ | £ | £ | £ | £ | |||
| Premises Letting | 18,831 | 18,831 | 12,866 | ||||
| Bank Interest | 22 | 4,446 | 4,468 | 430 | |||
| 18,853 | 4,446 | - | 23,299 | 13,296 | |||
| 4.d) | Charitable Activities | ||||||
| Analysis | Unrestricted | Designated | Restricted | 2021 | 2020 | ||
| £ | £ | £ | £ | £ | |||
| Ladies Breakfast | 130 | 130 | 235 | ||||
| Open House | 163 | 163 | 213 | ||||
| Flowers | 20 | 20 | 245 | ||||
| Mens Breakfast | 256 | 256 | 256 | ||||
| 20 | 386 | 163 | 569 | 948 | |||
16 | P a g e
| 4.e) | Other Income | |||||||
|---|---|---|---|---|---|---|---|---|
| Analysis | Unrestricted | Designated | Restricted | 2021 | 2020 | |||
| £ | £ | £ | £ | £ | ||||
| Photocopying | 10 | 10 | 1 | |||||
| Catering | 0 | 100 | ||||||
| 10 | 10 | 101 | ||||||
| 5. Analysis of Expenditure | ||||||||
| 5.a) | Raising funds Pre-School | |||||||
| Analysis | Unrestricted | Designated | Restricted | 2021 | 2020 | |||
| £ | £ | £ | £ | £ | ||||
| Pre-School | ||||||||
| Salaries | 34,055 | 34,055 | ||||||
| Staff Training | 878 | 878 | ||||||
| Equipment | 172 | 172 | ||||||
| Supplies | 615 | 615 | ||||||
| Use of premises | 700 | 700 | ||||||
| Other | 742 | 742 | 24,798 | |||||
| 37,161 | 37,161 | 24,798 | ||||||
| 5.b) | Raising funds Organisations | |||||||
| Analysis | Unrestricted | Designated | Restricted | 2021 | 2020 | |||
| £ | £ | £ | £ | £ | ||||
| Bookstall | 324 | 324 | 483 | |||||
| Luncheon Club | - | - | 881 | |||||
| Step Inside Coffee Shop | 1,022 | 1,022 | 795 | |||||
| 1,346 | 1,346 | 2,158 | ||||||
| 5.c) | Charitable Activities | |||||||
| Analysis | Unrestricted | Designated | Restricted | 2021 | 2020 | |||
| £ | £ | £ | £ | £ | ||||
| Gifts to Mission - Note | 6 | 2,252 | 5,578 | 7,830 | 13,401 | |||
| Direct Church costs - | Note 7 | 64,415 | 13,019 | 77,433 | 40,800 | |||
| Church support Organisations - Note | 8 | 490 | 312 | 802 | 540 | |||
| Independent Examiners Fees | 858 | 858 | 834 | |||||
| Professional Fees | 1,553 | 1,553 | 1,306 | |||||
| Bank Charges | 130 | 130 | 60 | |||||
| 69,207 | 13,509 | 5,890 | 88,606 | 56,941 | ||||
| 6. GIFTS TO MISSIONS | 2021 | 2020 | ||||||
| Overseas | General | UK | Total | Total | ||||
| From Missions Funds: | £ | £ | £ | £ | £ | |||
| BMS World Mission | * | 1,758 | 1,758 | 2,914 | ||||
| Operation Agri | 1,595 | 1,595 | 691 | |||||
| Baptist Home Mission | 1,108 | 1,108 | 1,489 | |||||
| MAF | 555 | 555 | 915 | |||||
| Release International | 563 | 563 | 177 | |||||
| Total via Restricted | Funds | 4,470 | 1,108 | 5,578 | 6,186 |
* includes £5 c/f from 2020
17 | P a g e
| Overseas | General | UK | Total | Total | |
|---|---|---|---|---|---|
| From General Fund | £ | £ | £ | £ | £ |
| BMS World Mission | 342 | 342 | 1,357 | ||
| Operation Agri | - | 1,257 | |||
| Baptist Home Mission | 892 | 892 | 1,257 | ||
| MAF | - | 1,257 | |||
| Release International | 188 | 188 | 1,257 | ||
| Spurgeons Childcare | 230 | 230 | 230 | ||
| Spurgeons College | 350 | 350 | 350 | ||
| Retd.Bapt.Ministers Housing | 250 | 250 | 250 | ||
| Total via General Fund | 530 | 1,722 | 2,252 | 7,215 | |
| Total Mission Giving | 5,000 | 0 | 2,830 | 7,830 | 13,401 |
| 2021:This total represents 10.9% of total incoming | resources(budgeted - less Pre-school | ||||
| & Gift Day) | |||||
| 2020: This total represents 16.9% of total incoming resources(budgeted - less Pre-school | |||||
| & Gift Day) |
7. Direct Church Costs
| Salaries Pension Deficit Manse Utilities Manse Repair & Maintenance Church Utilities Church Repair & Maintenance Cleaning Printing,postage,stationery Subscriptions Conf & Training costs Equipment Advertising & Publications Telephone,computer,internet Admin expenses Catering,gardening,flowers |
2021 2020 £ £ 25,722 10,271 79 563 2,204 2,385 2,293 1,279 8,122 7,507 14,504 2,427 221 323 862 686 1,496 1,628 1,550 750 4,775 2,347 1,006 921 2,435 2,016 11,324 7,124 839 573 77,433 40,800 |
|---|---|
8. Church Support Organisations
| Open House Ladies Breakfast Mens Breakfast |
2021 2020 £ £ 312 110 235 175 256 256 802 540 |
|---|---|
18 | P a g e
9. EMPLOYEES REMUNERATION
| 2021 | 2020 | ||
|---|---|---|---|
| £ | £ | ||
| Gross remuneration paid to all employees | 49188 | 26984 | |
| Total NIC Employer payments | 0 | 0 | |
| ** | Pension Deficiency Payments to BU | 3695 | 2724 |
| Employer Pension Contributions | 1345 | 0 | |
| NIC ER(allowance April '19 - April '20 -£3000) used | 0 | 1015 | |
| NIC ER(allowance April '20 - April '21 - £4000) used | 141 | 188 | |
| NIC ER(allowance April '21 - April '22 - £4000) used | 1575 | 0 | |
| The average numbers of paid staff were: | |||
| Minister position vacant | 1 | ||
| Minister(from August 2021) | 1 | ||
| Preschool staff (part time) | 5 | 4 | |
| Administrator(part time) | 1 | 1 |
** The Church is a participating employer in the Baptist Pension Scheme ("the Scheme"), which is a separate legal entity administered by the Pension Trustee (Baptist Pension Trust Limited). The assets of the Scheme are held separately from those of the Employer and the other participating employers.
The Scheme, previously known as the Baptist Ministers' Pension Fund, started in 1925, but was closed to future accrual of defined benefits on 31 December 2011. Prior to this date the main benefit provided through the Defined Benefit (DB) Plan was a pension of one eightieth of final minimum pensionable income for each year of pensionable service together with additional pension in respect of premiums paid on Pensionable Income in escess of Minimum Pensionable Income. Since 1 January 2012, benefits have been provided through a Defined Contribution (DC) Plan.
A formal valuation of the DB Plan as at 31 December 2019 was carried out by a professionally qualified Actuary using the Projected Unit Method. At the valuation date the market value of the DB Plan assets was £298 million, whilst the level of assets needed to pay benefits was £316m, giving a deficit of £18m (equivalent to a past service level funding of 94%). The Church and the other participating employers in the DB Plan are collectively responsible for funding this deficit. The next actuarial valuation of the DB Plan within the Scheme is due to take place not later than as at 31 December 2022.
Under the Scheme of Contributions, the church makes a monthly payment in respect of the DB Scheme deficit, currently £307.95, which will increase in line with increases in Mimimum Pensionable Income. The Schedule of Contrbutions foresees these contributions continuing until June 2026.
The Church has been advised that the estimated cost for the church to buy out their Pension Scheme liabilities at 31st December 2021 was £41,300.
19 | P a g e
FINDON VALLEY FREE CHURCH (BAPTIST) NOTES TO ACCOUNTS (continued) 10. TRUSTEES {tEACONSI REMUNERATION & EXPENSES 2021 2020 The total gross salary paid to Minister(from August 2021) Amounl of reimbursed expenses Accommodation allowance{frorn August 2021) Employer nalional insurance of £1,345 was payatAe on the Ministers salary. however the HMRC annual allowance was claimed which reduced the amount payatAe lo nil. 10,833 5,368 11. Restricted Funds Movement _ this year Fund 31.12.20 Transfews Receipts Payments 31.12.21 Krtchen Equipment ReSee Organ Refurbishmenl Preschool Organisations Missions Totals 275 600 3.053 7.201 275 600 7.217 7.113 41.325 1.570 5.573 48.468 37,161 1.657 5.578 44.397 11.134 15.205 Restricted Fund$ Movement - la$t year Fund 31.12.19 Transfets Receipts Payments 31.12.20 'tchen Equipment Reserve Organ Refurbishment Preschool Organisalions Missions Totals 274 600 1.106 6,863 275 600 3.053 7,201 26.744 2.605 6.191 35.541 24.798 2.268 6_186 33.251 11.134 NOTE." All restncted fvnds are held in current assets 12 Deswnaled Funds l•knTement- Ihi5 year 31.12.20 Transfer& Receipts Payments 31.12.21 Fund Mens. Breakfast Ladies BreahJast General Reserve Building Fund Fabric and Renewal Outreach Totals 441 256 60.172 24.015 885 66.069 151,838 256 130 256 235 441 152 60.172 16,747 837 64.818 143,166 4,451 11719.2 48.16 1.251 13,509 4,837 201Page
Designated Funds Movement - last year
| Fund Mens' Breakfast Ladies Breakfast General Reserve Building Fund Fabric and Renewal Outreach Totals |
31.12.19 Transfers Receipts Payments 31.12.20 £ £ £ £ £ 441 0 256 256 441 197 0 235 175 256 60,172 0 0 0 60,172 23,939 0 76 0 24,015 882 0 3 0 885 66,793 0 296 1,020 66,069 |
|---|---|
| 152,423 0 865 1,451 151,838 |
13 Commitments
a Photocopier
On the 25/10/2019 the church entered into an 5 year agreement with ASL/Siemens to lease a photocopier. Pre VAT quarterly payments amount to £350.
14 Liabilities
This is made up of money held for
£ FVRA Arts & Crafts 25 Advent Books 24 Rowland Singers 75 Total 124
15 Provisions
Pension scheme agreed deficit recovery liability
| Accounting date(year ending) Balance sheet liability at year start Minus deficiency contributions paid Interest cost (recognised in SoFA) Remaining change to balance sheet liability* (recognised in SoFA) Balance sheet liability at year end |
31/12/2021 31/12/2020 £ £ 21,526 34,452 3,695 - 2,724 - 79 563 609 - 10,765 - 17,301 21,526 |
|---|---|
*Comprises any changes in agreed deficit recovery plan and change in assumption between year-ends.
"there may be minor discrepancies in the totals if pence are not being shown"
21 | P a g e
Open House (Parent and Toddler Group Ministry) Annual Report 2021
----- Start of picture text -----
Messy Church 2021
----- End of picture text -----
22 | P a g e
Preschool Report 2021
Sunday School 2021
23 | P a g e
Youth Church 2021
ROOTED – Friday Evening Youth Work 2021
24 | P a g e
1st Findon Valley Scout Group 2021
25 | P a g e
T.L.C. Ministry 2021
Step Inside Coffee Shop Ministry 2021
26 | P a g e
Ladies’ Breakfast Ministry 2021
Men’s Breakfast Ministry 2021
----- Start of picture text -----
Home Groups 2021
----- End of picture text -----
27 | P a g e
BMS Birthday Scheme 2021
Flower Ministry Yearly Report 2021
Bookstall Report 2021
28 | P a g e
– Blythswood Care Shoe Box Appeal 2021
29 | P a g e
Summary of Safeguarding Policy Statement
30 | P a g e