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2021-12-31-accounts

WIDCOMBE BAPTIST CHURCH REPORT & FINANCIAL STATEMENTS 31 DECEMBER 2021

Company Registration Number 05958521 Charity Number 1118796

WIDCOMBE BAPTIST CHURCH

REPORT & FINANCIAL STATEMENTS

31 DECEMBER 2021

Contents Pages
Trustee Directors’ Annual Report 1 – 7
Reference and Administrative Information 8
Independent Examiner’s Report 9
Statement of Financial Activities 10
Balance Sheet 11
Cashflow Statement 12
Notes to the Financial Statements 13 – 25

WIDCOMBE BAPTIST CHURCH

TRUSTEE DIRECTORS’ ANNUAL REPORT

31 DECEMBER 2021

The Trustees, who are also the directors for the purposes of company law, present their report and the unaudited financial statements of the charity for the year ended 31 December 2021.

Objectives of Widcombe Baptist Church

  1. To advance the Christian faith in accordance with the Covenant of Membership, Declaration of Faith and Church Rules as set out in the Church Members’ Handbook,

  2. to relieve persons who are in conditions of need or hardship, or who are aged or sick,

  3. to advance education in accordance with Christian principles,

all as the Trustee Directors may consider appropriate, in Bath and in such other parts of the United Kingdom or the world as the Trustee Directors see fit.

Structure, governance and management

Widcombe Baptist Church is a Registered Company No. 05958521 and a Registered Charity No. 1118796.

There have been no changes to the structure, governance or management in 2021.

The Trustee Directors of the charitable company are the Ministers, Elders and willing Deacons of Widcombe Baptist Church recruited and appointed as defined in the Church Rules. For Ministers and Elders this involves support demonstrated by not less than 75% of the votes cast by ballot of Full Church Members and for Deacons it involves support demonstrated by not less than 66.6% of the votes cast by ballot of Full Church Members.

New Trustee Directors are provided with guidance issued by the Charity Commission regarding the duties of Trustee Directors.

The Church is affiliated to the Fellowship of Independent Evangelical Churches (FIEC).

Activities

1. To advance the Christian faith.

1

WIDCOMBE BAPTIST CHURCH

TRUSTEE DIRECTORS’ ANNUAL REPORT

31 DECEMBER 2021

2. To relieve persons who are in conditions of need or hardship or who are aged or sick and to relieve the distress caused thereby.

3. To advance education in accordance with Christian principles.

2

WIDCOMBE BAPTIST CHURCH

TRUSTEE DIRECTORS’ ANNUAL REPORT

31 DECEMBER 2021

The church has also supported various individuals going abroad on gap year and other short-term appointments.

Fundraising

In accordance with the Charities SORP (FRS 102) the Trustee Directors are required to report on certain aspects of fundraising. The requirements and comments are tabulated beneath

Issue requiring comment Comment
The fundraising approach taken by the charity, or by
anyone acting on its behalf, and whether a
professional fundraiser or commercial participator
carried out any fundraising activities.		 Members and the congregation are invited
to make gifts to support the work of the
Church. A box for offerings is kept at the
back of the church. There is no compulsion
on members to give. No professional
fundraiser or commercial participator is
used.
Details of any fundraising standards or scheme for
fundraising regulation that the charity has voluntarily
subscribed to.		 None
Details of any fundraising standards or scheme for
fundraising regulation that any person acting on behalf
of the charity has voluntarily subscribed to.		 None
Details of any failure by the charity, or by any person
acting on its behalf, to comply with fundraising
standards or scheme for fundraising regulation that
the charity or the person acting on its behalf has
voluntarily subscribed to.		 Not applicable.
Whether the charity monitored the fundraising
activities of any person acting on its behalf and, if so,
how it did so.		 Not applicable.
The number of complaints received by the charity, or
by a person acting on its behalf for the purposes of
fundraising, about fundraising activity.		 None
What the charity has done to protect vulnerable people
and other members of the public from behaviour
which:

is an unreasonable intrusion on a person’s privacy.

is unreasonably persistent.

places undue pressure on a person to give money or
other property.		 The financial needs of the church are
periodically laid before members, but all
fundraising is voluntary with no compulsion
to give. Individuals are never approached
separately to make gifts. No collection is
taken in Services. Only the Treasurer and
his team of 2 other people are aware of what
has been given by individuals.

3

WIDCOMBE BAPTIST CHURCH

TRUSTEE DIRECTORS’ ANNUAL REPORT

31 DECEMBER 2021

Review of developments and achievements

During 2021 the membership decreased from 238 to 227. 2 people were baptised. In the absence of Covid restrictions the regular Sunday morning exceeds 300 people.

The Trustees meet bi-monthly, or more frequently if required, to manage the affairs of the Church, review the financial position and track the progress of major projects. A full Church Members’ meeting is held quarterly.

Investment powers

There are no specific restrictions on the Trustee Directors’ investment powers.

Risk analysis

Major risks to which the Charity is exposed have been assessed and where necessary steps have been taken to minimise those risks. The Church Manager has specific responsibility for matters relating to Health and Safety and other regulatory issues. A GDPR Policy was adopted by the church in 2018.

Training in Child Protection, Health and Safety and Food handling is provided to appropriate personnel. The Church has a Child Protection Policy which is reviewed regularly and implemented with advice from the Churches' Child Protection Advisory Service.

Impact of Covid 19 on operations

The UK Government Coronavirus Regulations have impacted Widcombe Baptist Church. All face-to-face events were suspended from March 2020 and replaced by on-line and internet facilitated events wherever possible.

When the rules allowed, a congregation returned to the Church for Sunday Services, which have also been streamed live. On-line services were well supported with over 300 viewers of each Sunday morning service when attendance at church was restricted.

The Covid Pandemic has had no negative impact on the financial position of the charity. Offerings in 2021 were £13,000 more than 2020 and £5,000 more than 2019. Free reserves increased in 2021 by £27,621 to £103,907. A new building extension costing £1.1m was completed in 2021, funded by gifts from the congregation and VAT grants from the Government Listed Places of Worship Scheme.

4

WIDCOMBE BAPTIST CHURCH

TRUSTEE DIRECTORS’ ANNUAL REPORT

31 DECEMBER 2021

Financial Review

Building Project

Initial consideration and fundraising were undertaken in 2017 towards adding a substantial extension to the Church Building to accommodate the increased numbers of people attending services and other activities.

During 2019 the plans were revised and approved by the membership. A planning application was submitted in June 2019 and approved in October 2019.

Competitive tenders were received from 4 contractors in May 2020 and an appointment made in June 2020. Work commenced in August 2020 and was completed in May 2021.

The total project cost was £1,081,175 funded by:

Gifts (including Gift Aid): £850,565
Listed Places of Worship VAT Grants: £161,000
General Fund: £69,610

The Trustees had expected to have to raise a loan to cover part of the costs but gifts and a surplus in the General Fund proved sufficient to cover the project in full.

5

WIDCOMBE BAPTIST CHURCH

TRUSTEE DIRECTORS’ ANNUAL REPORT

31 DECEMBER 2021

Following the completion of the extension, the Trustees commissioned a professional valuation of the premises. This reports the current value of the church premises on an existing use basis to be £600,000, which is unchanged from the valuation held prior to the building work. As costs of the work had been capitalised it has been necessary to make a revaluation adjustment of £996,329 to reduce the value of the premises to £600,000. See note 12.

Properties

The charity owns 2 residential properties in addition to the main church premises.

Remuneration of Trustee Directors

The charity’s constitution allows for no more than one third of the Trustee Directors to be remunerated for day to day running of the charity. Please see note 19 for details. Remuneration for charity employees is recommended by the Treasurer and reviewed annually by a sub group of non-salaried Trustee Directors. They are then approved by a majority of non–salaried Trustee Directors.

Trustee Directors’ responsibilities

The Trustee Directors are responsible for preparing the Trustee Directors’ Report (incorporating the strategic report and directors’ report) and the financial statements in accordance with applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102: The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Accepted Accounting Practice).

Company law requires the Trustee Directors to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the income and expenditure of the charitable company for that period. In preparing these financial statements, the Trustee Directors are required to:

6

WIDCOMBE BAPTIST CHURCH TRUSTEE DIRECTORS’ ANNUAL REPORT

31 DECEMBER 2021

The Trustee Directors are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The Trustee Directors have read and had regard to the guidance on public benefit issued by the Charity Commission and have considered this and reviewed it at Trustee Directors' meetings to ensure that the projects developed by the Charity are relevant and topical for the public benefit.

By order of the Trustee Directors

C P Hutchison, Treasurer and Trustee Director Date:

7

WIDCOMBE BAPTIST CHURCH

REFERENCE & ADMINISTRATIVE INFORMATION

31 DECEMBER 2021

Legal Status

Widcombe Baptist Church is a charitable company limited by guarantee, governed by memorandum and articles of association (dated 6 October 2006).

Trustee Directors

The trustee directors who have served during the year and since the year end are as follows:

A C Barnett A W Battle D M Bolton C M Bradley (resigned April 2021) R L Evans R Henwood C P Hutchison P A Mallard J Pollard (appointed December 2021) A Rose C R Todman N Willoughby K C W Wiltshire

Registered Office

Ebenezer Terrace, Pulteney Road, Bath, BA2 4JR

Independent Examiner

Solicitor

Joshua Kingston ACA Burton Sweet Limited The Clock Tower 5 Farleigh Court Old Weston Road Flax Bourton Bristol BS48 1UR

Stone King LLP Queen Square Bath BA21 2HJ

Bankers

CAF Bank 25 Kings Hill Avenue West Malling Kent ME19 4JQ

Registered company number: 05958521 Registered charity number: 1118796

8

WIDCOMBE BAPTIST CHURCH

INDEPENDENT EXAMINER’S REPORT

31 DECEMBER 2021

I report to the charity trustees on my examination of the accounts of Widcombe Baptist Church (‘the Company’) for the year ended 31 December 2021.

Responsibilities and basis of report

As the charity’s trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).

Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.

Independent examiner’s statement

Since the Company’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

  1. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair view which is not a matter considered as part of an independent examination; or

  4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Joshua Kingston ACA Date: …………………………. Burton Sweet Limited The Clock Tower, 5 Farleigh Court, Old Weston Road, Flax Bourton Bristol BS48 1UR

9

WIDCOMBE BAPTIST CHURCH

STATEMENT OF FINANCIAL ACTIVITIES (Including Income and Expenditure Account)

YEAR ENDED 31 DECEMBER 2021

Note
Income from:
Donations and legacies
2
Charitable and other trading activities
3
Investments
4
Total income
Expenditure on:
Raising funds: costs of rented properties
Charitable activities
5
Total expenditure
Net income/(expenditure)
8
Transfers between funds
16
Other recognised gains and losses
Gains/(losses) on revaluation of fixed assets
12, 13
Net Movement in Funds
Total funds at the start of the year
16
Total funds at the end of the year
16		 Unrestricted
Funds
£
357,085
10,644
17,100
384,829
15,599
348,077
363,676
21,153
646,407
(896,329)
(228,769)
1,923,412
1,694,643		 Restricted
Funds
£
341,834
-
-
341,834
-
31,614
31,614
310,220
(646,407)
-
(336,187)
336,317
130		 Total Funds
2021
£
698,919
10,644
17,100
726,663
15,599
379,691
395,290
331,373
-
(896,329)
(564,956)
2,259,729
1,694,773		 Total Funds
2020
£
638,245
13,852
20,044
672,141
5,538
418,634
424,172
247,969
-
-
247,969
2,011,760
2,259,729

The charity has no recognised gains and losses other than the results for the period as set out above

All of the activities of the charity are classed as continuing

The comparative Statement of Financial Activities is shown in note 10

The notes on pages 13 to 25 form part of these financial statements

10

WIDCOMBE BAPTIST CHURCH

BALANCE SHEET

YEAR ENDED 31 DECEMBER 2021

Note
Fixed assets
Tangible assets
12
Investments
13
Current assets
Debtors
14
Cash at bank and in hand
Creditors : Amounts falling
due within one year
15
Net current assets
Net assets
Funds
Restricted funds
17
Unrestricted funds
17		 2021
£
961,170
600,000
1,561,170
13,476
127,069
140,545
(6,942)
133,603
1,694,773
130
1,694,643
1,694,773		 2020
£
1,273,192
525,000
1,798,192
32,428
432,316
464,744
(3,207)
461,537
2,259,729
336,317
1,923,412
2,259,729

For the year ending 31 December 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors responsibilities:

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

These financial statements were approved by the trustees and are signed on their behalf by:

Date:

……………………………………… Chris Hutchison Church Treasurer and Trustee Company registration number: 05958521

The notes on pages 13 to 25 form part of these financial statements

11

WIDCOMBE BAPTIST CHURCH

CASHFLOW STATEMENT

YEAR ENDED 31 DECEMBER 2021

2021
Note
£
Cashflows from operating activities
A
371,772
Cashflows from non-operational activities
Investing Activities
Improvements to freehold property
(660,686)
Purchase of tangible fixed assets
(16,333)
(677,019)
Net cash inflow (outflow) for the year
B
(305,247)
NOTES TO CASHFLOW STATEMENT
A. Reconcilation of net movement in funds to net cash inflow from operating activities
Statement of Financial Activities: Net movement in funds
(564,956)
(Gains) / losses on revaluation of fixed assets
896,329
Depreciation
17,712
Increase (decrease) in creditors
3,735
(Increase) decrease in debtors
18,952
Cashflows from operating activities
371,772
B. Analysis of changes in cash during the year
2021
2020
Change
£
£
£
Cash at bank and in hand
127,069
432,316
(305,247)
127,069
432,316
(305,247)
Comparative changes in cash 2020
2020
2019
Change
£
£
£
Notice accounts up to 1 year
-
400,000
(400,000)
Cash at bank and in hand
432,316
115,361
316,955
432,316
515,361
(83,045)
C. Analysis of net debt
At 1
January
Cashflows
2021
£
£
Cash at bank and in hand
432,316
(305,247)
Bank loan falling due within 1 year
-
-
Secured bank loan (falling due in less than 5 years)
-
-
Secured bank loan (falling due after 5 years)
-
-		 (311,968)
(20,325)
Other non-
cash changes
£
-
-
-
-		 2020
£
249,248
(332,293)
(83,045)
247,969
-
16,956
(570)
(15,107)
249,248
At 31
December
2021
£
127,069
-
-
-

The notes on pages 13 to 25 form part of these financial statements

12

WIDCOMBE BAPTIST CHURCH

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 2021

1 Accounting policies

(a) Basis of preparation

The financial statements have been prepared in accordance with the historical cost convention (except for investments which have been included at fair value and in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued in October 2019 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011, the Companies Act 2006 and UK Generally Accepted Practice as it applies from 1 January 2019.

The charity is a public benefit entity as defined under FRS102.

The trustees believe that there are no material uncertainties affecting the ability of the charity to continue as a going concern. Covid19 has not impacted the church's ability to continue as a going concern. Gifts did not decline.

(b) Income

Income from donations are included when these are receivable, except as follows:

i) When donors specify that donations given to the charity must be used in future accounting periods, the income is deferred until those periods.

ii) When donors impose conditions which have to be fulfilled before the charity becomes entitled to use such income, the income is deferred until the pre-conditions have been met.

Gift Aid tax refunds on all restricted and unrestricted gifts are credited to the General Fund unless the donor of a restricted gift asks for the tax refund to go to the same beneficiary as the restricted gift. In some cases the Trustees advise donors in advance that tax refunds on specific restricted gifts will be added to that restricted gift fund.

Legacies are recognised when the charity is legally entitled to the legacy and the amount can be quantified with reasonable accuracy. Entitlement is regarded as the earlier of the charity being notified of an impending distribution or the legacy being received.

c) Investment income is included in the Statement of Financial Activities when receivable.

Expenses are recognised when incurred and are apportioned where possible exactly to the category to which they relate. In circumstances where this is not possible the trustees apportion the amounts on a basis consistent with the use of resources.

Governance costs include those costs associated with meeting the constitutional and statutory requirements of the charity and include the independent examination fees and costs linked to the strategic management of the charity. Governance costs are included within support costs.

e) Fixed assets

All tangible fixed assets costing £750 or more were capitalised.

Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:

Equipment: 20% straight line.

Whatever the date of acquisition, a full year's depreciation charge is made in the year of acquisition.

No depreciation is charged on freehold properties, which instead are revalued each year and subject to a regular program of inspection and maintenance. The Trustees revalue the property on the basis of advice from a qualified professional acting in a personal capacity. The effective date of the most recent revaluation was 31 December 2021.

13

WIDCOMBE BAPTIST CHURCH

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 2021

1 Accounting policies ( continued )

g) 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.

h) Cash at bank and cash in hand

This 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 the deposit or similar account.

i) Creditors

Creditors and provisions 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 and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

j) Pension scheme

The charity operates defined contribution pension scheme arrangements. Contributions payable to the schemes are charged to the Statement of Financial Activities in the period to which they relate. These contributions are invested separately from the charity's assets.

k) Fund accounting

Unrestricted funds can be used in accordance with the charitable objects at the discretion of the Trustees.

Designated funds are unrestricted funds held by the treasurers of church auxiliaries for use in auxiliary activities.

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.

2 Donations and legacies

2021
Donations and gifts
Income tax refunds		 Unrestricted
Funds
£
301,759
55,326
357,085		 Restricted
Funds
£
302,559
39,275
341,834		 Total Funds
2021
£
604,318
94,601
698,919

Comparative donations and legacies for the year ended 31 December 2020

Donations and gifts
Income tax refunds		 Unrestricted
Funds
£
251,132
54,086
305,218		 Restricted
Funds
£
284,419
48,608
333,027		 Total Funds
2020
£
535,551
102,694
638,245

14

WIDCOMBE BAPTIST CHURCH

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 2021

Auxiliary activities
Other General Fund Income
Grants
Spring Gardens Road Property		 Unrestricted
Funds
£
1,783
4,061
-
4,800
10,644		 Restricted
Funds
£
-
-
-
-
-		 Total Funds
2021
£
1,783
4,061
-
4,800
10,644		 Total Funds
2020
£
343
2,106
6,603
4,800
13,852

All income from Charitable Activities for the prior year was unrestricted.

4 Investments

2021
Unrestricted
Funds
£
Property rental income
17,100
17,100
Comparative donations and legacies for the year ended 31 December 2020
Unrestricted
Funds
£
Property rental income
17,620
Interest on bank and building society deposits
-
17,620		 Restricted
Funds
£
-
-
Restricted
Funds
£
-
2,424
2,424		 Total Funds
2021
£
17,100
17,100
Total Funds
2020
£
17,620
2,424
20,044

15

WIDCOMBE BAPTIST CHURCH

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 2021

5 Expenditure on charitable activities
£
£
Activities in Bath
48,323
83,414
Activities elsewhere in the UK
13,378
-
Activities outside the UK
57,076
-
118,777
83,414
Direct costs
Staff costs (Pastors & Pastoral Care)
Core Activities (Youth work, Guest speakers, special events)
International Café
Auxiliary Accounts
Support costs
Staff Costs (Manager and Administrator)
Office and Miscellaneous Costs
Insurance
Fuel
Cleaners, cleaning equipment and materials
Church Flat
Maintenance of premises and equipment and equipment purchases < £750
New Building Project fitting out
Premises Improvement Project
Governance costs (see note 7)
Equipment depreciation
Grants made
(Note 6)
Direct costs		 £
173,950
1,775
1,775
177,500
Support costs		 Total Funds
2021
£
305,687
15,153
58,851
379,691
Total Funds
2021
£
75,516
5,645
723
1,530
83,414
Total Funds
2021
£
49,669
21,470
7,612
9,748
4,079
1,896
19,306
11,413
32,387
2,208
17,712
177,500		 Total Funds
2020
£
324,110
14,865
79,659
418,634
Total Funds
2020
£
68,107
3,282
682
669
72,740
Total Funds
2020
£
65,592
18,815
5,478
9,495
3,814
1,829
27,142
13,062
-
1,830
16,956
164,013

16

WIDCOMBE BAPTIST CHURCH

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 2021

6 Analysis of grants

To Organisations
2021
£
Activities in Bath
Genesis Trust
3,000
Bridgecare & Ray King Memorial Fund
1,500
Bath Youth for Christ
1,000
Focus Counselling
-
Open Christmas
500
Prospects
200
University of Bath CU
250
Bath Spa Uni - CU
250
Activities elsewhere in the UK
Friends International
5,110
UCCF
500
FIEC
7,468
Contagious
300
Activities outside the UK
Frontiers
13,750
UFM Worldwide
1,500
South Asia Concern (NVS)
1,000
Mission in Romania
5,242
Missionary Christmas gifts
1,000
Barnabas Fund
-
Innovista
2,996
Sub Total to Organisations
To individuals		 2020
£
3,000
33,000
1,000
200
-
200
250
250
6,700
5,110
500
7,115
300
13,378
15,250
1,500
3,000
5,504
1,368
5,000
2,496
25,488
45,566
73,211
118,777		 37,900
13,025
34,118
85,043
96,838
181,881
Independent examiner's fees
Legal fees		 2021
£
2,208
-
2,208		 2020
£
1,680
150
1,830

17

WIDCOMBE BAPTIST CHURCH

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 2021

This is stated after charging:
Remuneration of trustees (see note 19)
Trustees' expenses reimbursed (3 trustees; 2020 - 3 trustees)
for travel, use of phone for work, training, conferences
Depreciation
Independent Examiner's fee
Staff costs and numbers
The aggregate staff costs were
Wages and salaries
Social security costs
Pension costs
Redundancy payments
Staff numbers
Based on average headcount of employees
Pastoral
Caretaking
Administrative
Staff numbers
Full time equivalent
Pastoral
Administrative		 2021
£
107,982
1,654
17,712
2,208
2021
£
100,075
9,296
15,814
-
125,185
No.
3.0
-
2.0
5.0
1.9
1.5
3.4		 2020
£
109,214
1,387
16,956
1,680
2020
£
104,628
6,230
14,982
13,532
139,372
No.
2.0
1.0
2.0
5.0
2.0
1.5
3.5

9 Staff costs and numbers

No staff received employment benefits of more than £60,000 (excluding employer's national insurance and pension contributions) in 2021 or 2020.

The Trustees consider the key management personnel of the charity to be themselves. Total benefits received for services to the charity including employer's national insurance and pension contributions were £107,982 (2020: £109,214).

18

WIDCOMBE BAPTIST CHURCH

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 2021

10 Comparative Statement of Financial Activities for the year ended 31 December 2020

Income from:
Donations and legacies
Charitable and other trading activities
Investments
Total income
Expenditure on:
Raising funds: costs of rented properties
Charitable activities
Total expenditure
Net income/(expenditure)
Transfers between funds
Net movement in funds
Total funds at the start of the year
Total funds at the end of the year		 Unrestricted
Funds
£
305,218
13,852
17,620
336,690
5,538
337,850
343,388
-6,698
316,524
309,826
1,613,586
1,923,412		 Restricted
Funds
£
333,027
-
2,424
335,451
-
80,784
80,784
254,667
(316,524)
(61,857)
398,174
336,317		 Total Funds
2020
£
638,245
13,852
20,044
672,141
5,538
418,634
424,172
247,969
-
247,969
2,011,760
2,259,729

11 Taxation

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

19

WIDCOMBE BAPTIST CHURCH

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 2021

12
Tangible fixed assets
Cost or valuation
At 1 January 2021
Additions
Revaluation
At 31 December 2021
Depreciation
At 1 January 2021
Charge for the year
At 31 December 2021
Net book value
At 31 December 2021
At 31 December 2020		 Freehold
Property
£
1,235,643
660,686
(971,329)
925,000
-
-
-
925,000
1,235,643		 Equipment
£
227,479
16,333
-
243,812
189,930
17,712
207,642
36,170
37,549		 Total
£
1,463,122
677,019
(971,329)
1,168,812
189,930
17,712
207,642
961,170
1,273,192

Freehold properties are included at the trustees' valuation at 31 December 2021. If the freehold land and buildings had not been revalued they would have been included at the following historical cost:

Church building and associated premises
Freehold house
Analysis of freehold properties at valuation
Held for use by the charity:
Church Premises 2019 Valuation (prior to new extension)
Church premises extension - under construction 2019 costs
Church premises extension - under construction 2020 costs
Church premises extension - under construction 2021 costs
Church Premises revalution adjustment
Residential property held for mixed purposes		 2021
£
not known
79,000
600,000
23,675
311,968
660,686
(996,329)
325,000
925,000		 2020
£
not known
79,000
600,000
23,675
311,968
-
-
300,000
1,235,643

The residential property was revalued at 31 December 2021 by an experienced property agent. The church premises was professionally valued in December 2021. On an existing use basis the opinion is that the market value is £600,000, so the extension has not added any value. To reflect the up to date valuation a revaluation adjustment has been made to cancel out the capitalised expenses of the extension.

20

WIDCOMBE BAPTIST CHURCH

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 2021

13 Investment Property

At 31 December 2020
At 31 December 2021		 £
525,000
600,000

The investment property is held at fair value. The fair value is considered to be the market value at 31 December 2021. A professional valuation, based on market value, was provided by an experienced local property agent. The historical purchase price of the property is not known.

14 Debtors

Income tax recoverable
15
Creditors: amounts falling due within one year
Accrued expenses
Deferred income		 2021
£
13,476
13,476
2021
£
3,342
3,600
6,942		 2020
£
32,428
32,428
2020
£
3,207
-
3,207

21

WIDCOMBE BAPTIST CHURCH

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 2021

16 Movements in funds

As at 31 December 2021

Restricted Funds
Building fund
Mission to Europe
Gifts to Individuals
Unrestricted Funds
Designated (Auxiliary) funds
Designated Building Fund
Property revaluation reserve
General funds
Total funds		 At 1 January
2021
£
333,025
100
3,192
336,317
1,996
46,938
1,341,000
533,478
1,923,412
2,259,729		 Income
£
313,219
3,380
25,235
341,834
1,783
-
-
383,046
384,829
726,663		 Expenditure
£
-
(3,380)
(28,234)
(31,614)
(1,530)
(19,621)
(896,329)
(342,525)
(1,260,005)
(1,291,619)		 Transfers
£
(646,244)
-
(163)
(646,407)
-
-
-
646,407
646,407
-		 At 31
December
2021
£
-
100
30
130
2,249
27,317
444,671
1,220,406
1,694,643
1,694,773

Restricted funds

Restricted funds are principally where the church collects gifts for specific purposes.

Such gifts and offerings are normally passed on to the nominated beneficiaries soon after receipt.

Building fund

The building of a new extension and refurbishment of the existing premises to provide additional capacity, improved flexibility of use and support outreach and accessibility.

Mission to Europe

Gifts to support work in Romania, in addition to Gifts made by the Church from the General Fund.

Gifts to individuals

Gifts to missionaries from individuals, in addition to Gifts made by the Church from the General Fund.

Hope School, Bethlehem

Provides biblically founded education with a focus on facilities, activities and educational opportunities for children in need.

Special fund A

Relates to gifts from a donor who wanted be anonymous to all other than the Church Treasurer. These gifts are considered restricted by the charity. These were distributed in accordance with the donor's instructions in 2021 to causes already supported by the Church.

22

WIDCOMBE BAPTIST CHURCH

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 2021

Designated funds

Designated funds are included within unrestricted funds in the SOFA.

Designated auxiliary funds

For Junior Church, Youth Groups, Men's' Breakfast, Ladies Brunch, Toddlers and CoffeePlus.

Designated Building fund

The trustees have set aside £60,000 from the General Fund to support the building of a new extension and refurbishment to the existing premises. Expenses realting to AV, Insurance, finance costs and other work done "in-house" are charged to this fund.

Property revaluation reserve

This is the total of property value adjustments in the current year.

As at 31 December 2020

Restricted Funds
Building fund
Mission to Europe
Bethlehem School
Gifts to Individuals
Special fund A
Unrestricted Funds
Designated (Auxiliary) funds
Designated Building Fund
Property revaluation reserve
General funds
Total funds		 At 1 January
2020
£
347,320
-
-
4,504
46,350
398,174
2,322
60,000
1,341,000
210,264
1,613,586
2,011,760		 Income
£
287,673
4,880
300
42,598
-
335,451
343
-
-
336,347
336,690
672,141		 Expenditure
£
-
(4,780)
(300)
(39,404)
(36,300)
(80,784)
(669)
(13,062)
-
(329,657)
(343,388)
(424,172)		 Transfers
£
(301,968)
-
-
(4,506)
(10,050)
(316,524)
-
-
-
316,524
316,524
-		 At 31
December
2020
£
333,025
100
-
3,192
-
336,317
1,996
46,938
1,341,000
533,478
1,923,412
2,259,729

23

WIDCOMBE BAPTIST CHURCH

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 2021

17 Analysis of net assets between funds

As at 31 December 2021
Restricted funds
Designated funds
Unrestricted funds
Total funds
As at 31 December 2020
Restricted funds
Designated funds
Unrestricted funds
Total funds		 Tangible
Fixed Assets
£
-
-
961,170
961,170
Tangible
Fixed Assets
£
-
-
1,273,192
1,273,192		 Investments
£
-
-
600,000
600,000
Investments
£
-
-
525,000
525,000		 Other
Net Assets
£
130
29,566
103,907
133,603
Other
Net Assets
£
336,317
48,934
76,286
461,537		 Total
£
130
29,566
1,665,077
1,694,773
Total
£
336,317
48,934
1,874,478
2,259,729

18 Company limited by guarantee

The company is limited by guarantee and as such has no issued share capital. In the event of the company being wound up the liability of the members is limited to £1 each.

24

WIDCOMBE BAPTIST CHURCH

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 2021

19 Related party transactions

Trustee remuneration:

Under the Articles of Association, article 5, not more than 1/3 of the Trustees may be remunerated for services provided under a contract of employment.

Remuneration, pensions and benefits for employed Trustees was as follows for the year ended 31 December 2021.

The minimum number of Trustees that held office in the year was 11 (2020: 13).

Salary &
Employer NI
£
P Mallard
36,388
C Todman
22,307
R Evans
38,789
97,484
Donations (excluding Gift Aid recovered) received from Trustees		 Employer
pension
£
4,089
2,319
4,090
10,498		 Total 2021
£
40,477
24,626
42,879
107,982
48,795

Donations (excluding Gift Aid recovered) received from Trustees

Comparative Trustee Remuneration 2020

Salary &
Employer NI
£
P Mallard
37,069
C Todman
22,079
R Evans
39,863
99,011
Donations (excluding Gift Aid recovered) received from Trustees		 Employer
pension
£
4,074
2,230
3,899
10,203		 Total 2020
£
41,143
24,309
43,762
109,214
74,984

Donations (excluding Gift Aid recovered) received from Trustees

25