# **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.**
- a) In Bath: The Church proclaims the Christian Gospel through regular Sunday services and other meetings during the week, a Sunday School and clubs and activities for children, young people, students and the elderly from the surrounding area.
- b) In the United Kingdom: The Church has supported workers involved with the international communities in London, and with students at universities and colleges throughout the United Kingdom. The Church has also supported the Fellowship of Independent Evangelical Churches, which seeks to establish new churches, restore struggling churches and train people for Christian ministry across the United Kingdom.
1
**WIDCOMBE BAPTIST CHURCH**
## **TRUSTEE DIRECTORS’ ANNUAL REPORT**
## **31 DECEMBER 2021**
- c) In the world: The Church has supported workers in Romania, Rajasthan, Myanmar, France, Central and Eastern Europe, South Africa and other parts of Africa, and nomadic peoples in Northern Africa and in the Middle East.
- d) The Church hosts a website offering information and sermons preached at the Church in Bath. In 2021 the website was visited approximately 900 times per month. Throughout the year, there were on average over 300 views of each service broadcast on YouTube and approximately 350 historical sermon downloads per month. Additionally, the church social media channels have grown on Twitter, Facebook and YouTube, with a total of 709 regular followers. Owing to the continuing COVID-19 pandemic, the Church has seen sustained use of technologies that allow the congregation and members of the public to remain connected with the work of the Church.
**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.**
- a) In Bath: The Church has supported the Genesis Trust which seeks to help people in need and hardship, and members of the Church regularly operate a Soup Run which is coordinated by the Genesis Trust. In addition, the Church has supported the Bridgemead residential home for elderly people. The Church operates a weekly coffee morning, 'Coffee Plus', for retired people for companionship and as an introduction to church life. The Church operates a ‘Toddlers’ group to support carers of young children in the surrounding area.
- b) In the world: The workers supported by the Church have been involved in helping people in need by providing ministry in Rajasthan and by providing funds supporting a foodbank, and employment for gypsy communities in Romania. The church also supports specific requests for financial assistance when major disasters (such as floods, hurricanes and droughts) affect impoverished communities.
## 3. **To advance education in accordance with Christian principles.**
- a) In Bath: The Church provided regular education and training through Sunday School and other activities for people of all ages. Three Ministry Trainees have been based and trained at the Church throughout the year. The Church has also supported a group which is invited to lead school assemblies and provide workshops as part of schools’ programmes of religious education. The Church has trained a number of individuals who preach the gospel at other churches in the area.
- b) In the United Kingdom: The Church has supported the South West Gospel Partnership which seeks to train lay people in the Christian faith. In addition, members of the Church have been involved in outreach projects in the summer and at other times including beach missions and youth camps. The church released Paul Mallard to speak at various conferences throughout the UK.
- c) In the world: The workers supported by the Church have been involved in long running educational projects in South Africa, Rajasthan, Myanmar and Central and Eastern Europe providing basic skills to people who would otherwise be uneducated, providing training for Christian leaders and the development of business and political leaders.
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**
- General Fund Income increased by £48,139 driven by an increase in regular gifts of £13,000 and £37,000 of legacies.
- General Fund Expenses (including designated funds, other than the property revaluation reserve) increased by £20,288 as activities returned to normal.
- General Fund net income increased by £27,153 to £21,153.
- The Directors have established a policy whereby General Funds not designated for a specific purpose (“the free reserves”) should be able to meet two months’ ordinary General Fund expenditure, which equated to £50,000 in 2021. At this level the Trustee Directors feel that they would be able to continue the current activities in the event of a significant drop in funding. Free Reserves increased by £27,621 to £103,907. A further £27,317 (2020: £46,938) of reserves remain designated to the decorating and kitting out of the building extension.
- Providing there are sufficient free reserves to cover 2 months general expenses and any capital expenditure expected in the next 3 years, the Trustees plan to distribute all General Fund income each year to works that support the Church’s objectives.
- Monthly financial reports are presented to meetings of Elders and Deacons. Financial Reports are presented at the Church Members’ meeting each quarter.
## **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.
- 7 Spring Garden’s Road, Bath is used specifically to further the objectives of the charity and is currently occupied by a retired missionary at below market rate rent. Income and expenditure in respect of this property is treated as a charitable activity. This property is valued at £325,000, an increase of £25,000 in 2021.
- 4 Abbey View Gardens is rented on a commercial basis and is not treated as a charitable activity but as a separate rental property activity from which the charity derives an income. This property is valued at £600,000, an increase of £75,000 in 2021.
## **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:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charities SORP;
- make judgments and accounting estimates that are reasonable and prudent;
- state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements and
6
**WIDCOMBE BAPTIST CHURCH TRUSTEE DIRECTORS’ ANNUAL REPORT**
## **31 DECEMBER 2021**
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.
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:
- The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
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.
- d) **Expenditure**
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.
- f) Investment properties are initially recognised at cost then subsequently measured at fair value at the reporting date. The Trustees revalue the property on the basis of advice from a qualified professional acting in a personal capacity. Depreciation is not charged on investment properties.
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**
- **3 Income from: charitable activities**
|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|
|---|---|---|
- **7 Governance costs**
|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**
- **8 Net income/(expenditure)**
|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**
- **16 Movements in funds -** _**continued**_
## **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