# **WIDCOMBE BAPTIST CHURCH REPORT & FINANCIAL STATEMENTS 31 DECEMBER 2022**
**Company Registration Number 05958521 Charity Number 1118796**
**WIDCOMBE BAPTIST CHURCH**
## **REPORT & FINANCIAL STATEMENTS**
## **31 DECEMBER 2022**
|**Contents**|**Pages**|
|---|---|
|Trustee Directors’ Annual Report|1 – 6|
|Reference and Administrative Information|7|
|Independent Examiner’s Report|8|
|Statement of Financial Activities|9|
|Balance Sheet|10|
|Cashflow Statement|11|
|Notes to the Financial Statements|12 – 24|
**WIDCOMBE BAPTIST CHURCH**
## **TRUSTEE DIRECTORS’ ANNUAL REPORT**
## **31 DECEMBER 2022**
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 2022.
## **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 2022.
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 2022**
- 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 1,250 times per month. Throughout the year, there were on average 55 views of each service broadcast on YouTube and approximately 275 historical sermon downloads per month. The You Tube channel was viewed over 35,000 times in 2022. Additionally, the church social media channels have grown on Twitter, Facebook.
**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 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 and a Baby 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. Four 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: 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. The church has also supported various individuals going abroad on gap year and other short-term appointments.
2
**WIDCOMBE BAPTIST CHURCH**
## **TRUSTEE DIRECTORS’ ANNUAL REPORT**
## **31 DECEMBER 2022**
## **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.|
## **Review of developments and achievements**
During 2022 the membership increased from 227 to 235. 10 people were baptised. The regular Sunday morning congregation exceeds 300 people.
In March, Paul Mallard retired as Pastor and resigned as a Trustee.
3
**WIDCOMBE BAPTIST CHURCH**
## **TRUSTEE DIRECTORS’ ANNUAL REPORT**
## **31 DECEMBER 2022**
After extensive prayerful consideration, the Elders recommended Tom Heasman be appointed Pastor and Trustee. This recommendation was supported by the membership and Tom took up his responsibilities from 1[st] September 2022.
Tom relocated from London. The Trustees have agreed to assist with a manse. The residential property at 4 Abbey View Gardens is unsuitable for this purpose and has been sold for £700,000 with completion due 6[th] April 2023.
An offer has been made on a new, suitable property costing £775,000, that is under construction and will serve as a manse for Tom and his family. The purchase will be funded by the sale proceeds of Abbey View Gardens and up to £95,000 of reserves from the General Fund. Until then the church is renting a property as a temporary manse at a cost of £1,800pm, to which Tom contributes £500 per month
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 Safeguarding Policy which is reviewed regularly and implemented with advice from Thirtyone:eight.
## **Financial Review**
- General Fund Income fell by £11,573 to £373,256, but this was because legacies of £37,000 were received in 2021. No legacies were received in 2022 but regular gifts increased by £10,000.
- General Fund Expenses increased by £18,258 to £381,934 as all activities returned to normal after the Covid 19 lockdowns in 2020 and 2021.
- General Fund net income fell by £29,831, from a surplus of £21,153 to a deficit of £8,678, primarily because £21,000 was spent of one-off expenses to fit out the new extension completed in 2021.
- 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 2022. At this level the
4
**WIDCOMBE BAPTIST CHURCH**
## **TRUSTEE DIRECTORS’ ANNUAL REPORT**
## **31 DECEMBER 2022**
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 £45,656 to £149,563. Of this increase, £17,868 came from the release of funds previously designated for improvements to the church premises.
- 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.
## **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, which is no change from 2021.
- 4 Abbey View Gardens was 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 was sold, subject to contract, in December 2022 for £700,000; the sale completed in April 2023. The proceeds will be used to buy a new manse for the pastor. The sale value is an increase of £75k in value since the December 2021 valuation and the asset is reported at a value of £700,000 in the 2022 Balance Sheet.
## **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 approved by a majority of non–salaried Trustee Directors.
5
## **WIDCOMBE BAPTIST CHURCH**
## **TRUSTEE DIRECTORS’ ANNUAL REPORT**
## **31 DECEMBER 2022**
## **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
- 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:
6
**WIDCOMBE BAPTIST CHURCH**
## **REFERENCE & ADMINISTRATIVE INFORMATION**
## **31 DECEMBER 2022**
## **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 R L Evans T Heasman (appointed December 2022) R Henwood C P Hutchison P A Mallard (resigned March 2022) J Pollard 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 Queen Square The Clock Tower 5 Farleigh Court Old Weston Road Flax Bourton Bristol BS48 1UR
Stone King LLP Bath BA21 2HJ
## **Bankers**
CAF Bank 25 Kings Hill Avenue West Malling Kent ME19 4JQ
**Registered company number:** 05958521 **Registered charity number:** 1118796
7
**WIDCOMBE BAPTIST CHURCH**
## **INDEPENDENT EXAMINER’S REPORT**
## **31 DECEMBER 2022**
I report to the charity trustees on my examination of the accounts of Widcombe Baptist Church (‘the Company’) for the year ended 31 December 2022.
## **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
8
## **WIDCOMBE BAPTIST CHURCH**
## **STATEMENT OF FINANCIAL ACTIVITIES (Including Income and Expenditure Account)**
## **YEAR ENDED 31 DECEMBER 2022**
|**Note**
**Income from:**
Donations and legacies
**2**
Charitable 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**
**12, 13**
Gains/(losses) on revaluation of fixed assets
**Net Movement in Funds**
**Total funds at the start of the year**
**16**
**Total funds at the end of the year**
**16**|**Unrestricted**
**Funds**
**£**
337,181
22,094
13,981|**Restricted**
**Funds**
**£**
80,339
-
-|**Total Funds**
**2022**
**£**
417,520
22,094
13,981|**Total Funds**
**2021**
**£**
698,919
10,644
17,100|
|---|---|---|---|---|
||373,256|80,339|453,595|726,663|
||6,749
375,185|-
40,861|6,749
416,046|15,599
379,691|
||381,934|40,861|422,795|395,290|
||(8,678)
39,038
74,384|39,478
(39,038)
-|30,800
-
74,384|331,373
-
(896,329)|
||104,744
1,694,643|440
130|105,184
1,694,773|(564,956)
2,259,729|
||1,799,387|570|1,799,957|1,694,773|
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 12 to 24 form part of these financial statements**
9
## **WIDCOMBE BAPTIST CHURCH BALANCE SHEET**
## **AS AT 31 DECEMBER 2022**
|**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**
**17**
Unrestricted Designated funds
**17**
Unrestricted General funds (includes
property revaluation reserve of
£1,546,000 (2021: £444,671)|**2022**
**£**
947,771
700,000
1,647,771
15,371
141,394
156,765
(4,579)
152,186
1,799,957
570
1,797,334
2,053
1,799,957|**2021**
**£**
961,170
600,000|
|---|---|---|
|||1,561,170
13,476
127,069|
|||140,545
(6,942)|
|||133,603|
|||1,694,773|
|||130
1,665,077
29,566|
|||1,694,773|
For the year ending 31 December 2022 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:
……………………………………… Chris Hutchison Church Treasurer and Trustee Company registration number: 05958521
Date:
## **The notes on pages 12 to 24 form part of these financial statements**
10
## **WIDCOMBE BAPTIST CHURCH CASHFLOW STATEMENT**
## **YEAR ENDED 31 DECEMBER 2022**
|**2022**
**Note**
**£**
**Cashflows from operating activities**
**A**
42,099
**Cashflows from non-operational activities**
**Investing Activities**
Improvements to Freehold Property
(25,616)
Purchase of tangible fixed assets
(2,158)
(27,774)
**Net Cash inflow (outflow) for the year**
**B**
14,325
**NOTES TO CASHFLOW STATEMENT**
**A. Reconciliation of net movement in funds to net cash inflow from operating activities**
Statement of Financial Activities: Net movement in funds
105,184
(Gains) / losses on revaluation of fixed assets
(74,384)
Depreciation
15,557
Increase (Decrease) in creditors
1,237
Increase (Decrease) in payments in advance
(3,600)
(Increase) Decrease in Debtors
(1,895)
Cashflows from operating activities
42,099
**B. Analysis of changes in cash during the year**
**2022**
**2021**
**Change**
**£**
**£**
**£**
Cash at Bank and in hand
141,394
127,069
14,325
141,394
127,069
14,325
**Comparative changes in cash 2021**
**2021**
**2020**
**Change**
**£**
**£**
**£**
Cash at Bank and in hand
127,069
432,316
(305,247)
127,069
432,316
(305,247)|**2022**
**Note**
**£**
**Cashflows from operating activities**
**A**
42,099
**Cashflows from non-operational activities**
**Investing Activities**
Improvements to Freehold Property
(25,616)
Purchase of tangible fixed assets
(2,158)
(27,774)
**Net Cash inflow (outflow) for the year**
**B**
14,325
**NOTES TO CASHFLOW STATEMENT**
**A. Reconciliation of net movement in funds to net cash inflow from operating activities**
Statement of Financial Activities: Net movement in funds
105,184
(Gains) / losses on revaluation of fixed assets
(74,384)
Depreciation
15,557
Increase (Decrease) in creditors
1,237
Increase (Decrease) in payments in advance
(3,600)
(Increase) Decrease in Debtors
(1,895)
Cashflows from operating activities
42,099
**B. Analysis of changes in cash during the year**
**2022**
**2021**
**Change**
**£**
**£**
**£**
Cash at Bank and in hand
141,394
127,069
14,325
141,394
127,069
14,325
**Comparative changes in cash 2021**
**2021**
**2020**
**Change**
**£**
**£**
**£**
Cash at Bank and in hand
127,069
432,316
(305,247)
127,069
432,316
(305,247)|(25,616)
(2,158)|**2022**
**£**
42,099
(27,774)|(660,686)
(16,333)|**2021**
**£**
371,772
(677,019)|
|---|---|---|---|---|---|
|||||||
||||14,325||(305,247)|
||||||(564,956)
896,329
17,712
135
3,600
18,952|
||||42,099||371,772|
||||**Change**
**£**
14,325|||
||141,394|127,069|14,325|||
||**2021**
**£**
127,069|**2020**
**£**
432,316|**Change**
**£**
(305,247)|||
||127,069|432,316|(305,247)|||
**The notes on pages 12 to 24 form part of these financial statements**
11
## **WIDCOMBE BAPTIST CHURCH**
## **NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2022**
## **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 Oct 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 applicable from 1 Jan 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.
## **(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 are claimed on all eligible gifts in accordance with HMRC rules. Where the Trustees open a specific Fund and solicit gifts, Gift Aid refunds on these restricted gifts is credited to the specific Fund. However, where donors make gifts that supplement an activity already supported by the General Fund, Gift Aid refunds on these restricted gifts is credited to the General Fund unless the donor specifically asks that the Gift Aid refund goes to the same beneficiary as their gift.
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.
Investment income is included in the SOFA when receivable.
## **(c) 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.
## **(d) 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 are 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 last revaluation was 31 Dec 22. 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.
## **(e) Debtors**
Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid ned of any trade discounts due.
## **(f) 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.
12
## **WIDCOMBE BAPTIST CHURCH**
## **NOTES TO THE FINANCIAL STATEMENTS**
## **YEAR ENDED 31 DECEMBER 2022**
## **Accounting policies (continued)**
## **(g) 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.
## **(h) 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.
## **(i) 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 Income from: Donations and legacies**
## **2022**
|Donations and gifts
Income tax refunds
Listed Places of Worship VAT refund grant|**Unrestricted**
**Funds**
**£**
274,774
58,107
4,300|**Restricted**
**Funds**
**£**
71,957
8,382
-|**Total Funds**
**2022**
**£**
346,731
66,489
4,300|
|---|---|---|---|
||337,181|80,339|417,520|
## **Comparative donations and legacies for the year ended 31 December 2021**
|Donations and gifts
Income tax refunds|**Unrestricted**
**Funds**
**£**
301,759
55,326|**Restricted**
**Funds**
**£**
302,559
39,275|**Total Funds**
**2021**
**£**
604,318
94,601|
|---|---|---|---|
||357,085|341,834|698,919|
## **3 Income from: charitable activities**
|Auxiliary activities
Hire of rooms
Other General Fund Income
Spring Gardens Road Property|**Total Funds**
**2022**
**£**
4,509
6,630
5,755
5,200|**Total Funds**
**2021**
**£**
1,783
225
3,836
4,800|
|---|---|---|
||22,094|10,644|
All income from Charitable Activities for the current and prior year was unrestricted.
13
## **WIDCOMBE BAPTIST CHURCH**
## **NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2022**
## **4 Income from: Investments**
|Property rental income
Interest on bank and building society deposits|**Total Funds**
**2022**
**£**
13,720
261|**Total Funds**
**2021**
**£**
17,100
-|
|---|---|---|
||13,981|17,100|
All income from Investments for the current and prior year was unrestricted.
## **5 Expenditure on: charitable activities**
|Activities in Bath
Activities elsewhere in the UK
Activities outside the UK|**£**
56,895
13,272
61,676
**Grants**
**made**
**(Note 6)**|**£**
98,676
-
-
**Direct costs**|**£**
181,817
1,855
1,855
**Support**
**costs**|**Total Funds**
**2022**
**£**
337,388
15,127
63,531|
|---|---|---|---|---|
||131,843|98,676|185,527|416,046|
## **Comparative charitable activities for the year ended 31 December 2021**
|Activities in Bath
Activities elsewhere in the UK
Activities outside the UK|**£**
48,323
13,378
57,076
**Grants**
**made**
**(Note 6)**|**£**
83,414
-
-
**Direct costs**|**£**
173,950
1,775
1,775
**Support**
**costs**|**Total Funds**
**£**
305,687
15,153
58,851
**2021**|
|---|---|---|---|---|
||118,777|83,414|177,500|379,691|
|_Direct costs_
Staff costs (Pastors & Pastoral Care)
Core Activities (Youth work, Guest speakers, special events)
International Café
Auxiliary Accounts|**Total Funds**
**2022**
**£**
83,849
6,708
3,414
4,705|**Total Funds**
**2021**
**£**
75,516
5,645
723
1,530|
|---|---|---|
||98,676|83,414|
14
## **WIDCOMBE BAPTIST CHURCH**
## **NOTES TO THE FINANCIAL STATEMENTS**
## **YEAR ENDED 31 DECEMBER 2022**
|**DCOMBE BAPTIST CHURCH**
**AR ENDED 31 DECEMBER 2022**
**TES TO THE FINANCIAL STATEMENTS**|||
|---|---|---|
|**Expenditure on: charitable activities continued**
_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
Rent of Englishcoombe Lane (temporary manse)
7 Spring Gardens Road
Governance costs (see note 7)
Equipment depreciation|**Total Funds**
**2022**
**£**
63,601
20,915
8,577
10,729
6,696
1,961
19,437
9,449
12,800
13,500
115
2,190
15,557|**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|
||185,527|177,500|
15
## **WIDCOMBE BAPTIST CHURCH NOTES TO THE FINANCIAL STATEMENTS**
## **YEAR ENDED 31 DECEMBER 2022**
## **6 Analysis of grants**
|**2022**
**_To Organisations_**
**£**
Activities in Bath
Genesis Trust
3,000
Bridgecare & Ray King Memorial Fund
11,500
Bath Youth for Christ
1,008
Focus Counselling
250
Open Christmas
250
Prospects
-
University of Bath CU
200
Bath Spa Uni - CU
200
Activities elsewhere in the UK
Friends International
5,614
UCCF
500
FIEC
6,858
Contagious
300
Activities outside the UK
Frontiers
-
UFM Worldwide
1,500
South Asia Concern (NVS)
1,000
Mission in Romania
6,970
Missionary Christmas gifts
-
Barnabus
1,200
Innovista
10,079
**_Sub Total to Organisations_**
**To individuals**|**2021**
£
3,000
1,500
1,000
-
500
200
250
250
16,408
5,110
500
7,468
300
13,272
13,750
1,500
1,000
5,242
1,000
-
2,996
20,749
50,429
81,414
131,843||
|---|---|---|
|||6,700|
|||13,378|
|||25,488|
|||45,566
73,211|
|||118,777|
16
## **WIDCOMBE BAPTIST CHURCH NOTES TO THE FINANCIAL STATEMENTS**
## **YEAR ENDED 31 DECEMBER 2022**
|**7**|**Governance costs**
Independent examiner's fees
Current year|**2022**
**£**
2,190|**2021**
**£**
2,208|
|---|---|---|---|
|||2,190|2,208|
## **8 Net income/(expenditure)**
This is stated after charging:
|**2022**
**£**
Remuneration of trustees (see note 19)
128,042
Trustees' expenses reimbursed (4 trustees; 2021 - 3 trustees)
8,094
for travel, use of phone for work, training, conferences and Heasman relocation costs
Depreciation
15,557
Independent Examiner's fee
2,190|**2021**
**£**
107,982
1,654
17,712
2,208|
|---|---|
**9 Staff costs and numbers**
The aggregate staff costs were
|Wages and salaries
Social security costs
Pension costs
**Staff numbers**
Based on average headcount of employees
Pastoral
Administrative
**Staff numbers**
Full time equivalent
Pastoral
Administrative|**2022**
**£**
114,585
12,262
20,603|**2021**
**£**
100,075
9,296
15,814|
|---|---|---|
||147,450|125,185|
||**No.**
3.0
2.0|**No.**
3.0
2.0|
||5.0|5.0|
||2.6
1.5|1.9
1.5|
||4.1|3.4|
No staff received employment benefits of more than £60,000 (excluding employer's national insurance and pension contributions) in 2022 or 2021.
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 £125,913 (2021: £107,982).
17
## **WIDCOMBE BAPTIST CHURCH NOTES TO THE FINANCIAL STATEMENTS**
## **YEAR ENDED 31 DECEMBER 2022**
## **10 Comparative Statement of Financial Activities for the year ended 31 December 2021**
|**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**
**Other recognised gains and losses**
Gains/(losses) on revaluation of fixed assets
**Net Movement in Funds**
**Total funds at the start of the year**
**Total funds at the end of the year**|**Unrestricted**
**Funds**
**£**
357,085
10,644
17,100|**Restricted**
**Funds**
**£**
341,834
-
-|**Total Funds**
**2021**
**£**
698,919
10,644
17,100|
|---|---|---|---|
||384,829|341,834|726,663|
||15,599
348,077|-
31,614|15,599
379,691|
||363,676|31,614|395,290|
||21,153
646,407
(896,329)|310,220
(646,407)
-|331,373
-
(896,329)|
||(228,769)
1,923,412|(336,187)
336,317|(564,956)
2,259,729|
||1,694,643|130|1,694,773|
## **11 Taxation**
The charity is exempt from corporation tax on its charitable activities.
18
## **WIDCOMBE BAPTIST CHURCH NOTES TO THE FINANCIAL STATEMENTS**
## **YEAR ENDED 31 DECEMBER 2022**
|**12**
**Tangible fixed assets**
**Freehold**
**Property**
**£**
**Cost or valuation**
At 1 January 2022
925,000
Additions
25,616
Revaluation
(25,616)
At 31 December 2022
925,000
**Depreciation**
At 1 January 2022
-
Charge for the year
-
At 31 December 2022
-
**Net book value**
At 31 December 2022
925,000
At 31 December 2021
925,000
Freehold properties are included at the trustees' valuation at 31 December 2022.|**Freehold**
**Property**
**£**
925,000
25,616
(25,616)|**Equipment**
**£**
243,812
2,158
-|**Total**
**£**
1,168,812
27,774
(25,616)|
|---|---|---|---|
||925,000|245,970|1,170,970|
||-
-|207,642
15,557|207,642
15,557|
||-|223,199|223,199|
|||||
||925,000|22,771|947,771|
||925,000|36,170|961,170|
|||||
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 Dec 2021 Valuation (after to new extension)
Church premises extension - under construction 2019 costs
Church premises extension - under construction 2020 costs
Church premises extension - under construction 2021costs
Church Premises revaluation adjustment 2021
Church premises extension - final costs 2022
Church Premises revaluation adjustment 2022
Residential property held for mixed purposes|**2022**
**£**
not known
79,000
600,000
23,675
311,968
660,686
(996,329)
25,616
(25,616)
325,000|**2021**
**£**
not known
79,000
600,000
23,675
311,968
660,686
(996,329)
325,000|
|---|---|---|
||925,000|925,000|
The residential property was revalued at 31 December 2022 by an experienced property agent. The church premises was professionally valued in December 2021 and updated by an experienced agent in December 2022. On an existing use basis the opinion is that the market value remains £600,000. To reflect the up to date valuation a revaluation adjustment has been made to cancel out the capitalised expenses of the extension incurred in 2022 as occurred in prior years.
19
## **WIDCOMBE BAPTIST CHURCH NOTES TO THE FINANCIAL STATEMENTS**
## **YEAR ENDED 31 DECEMBER 2022**
## **13 Investment Property**
|**Investment Property**||
|---|---|
|At 31 December 2021
At 31 December 2022|**£**
600,000|
||700,000|
The investment property is held at fair value. The fair value is considered to be the market value at 31 December 2022. 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. The property has been sold for £700,000, completing in April 2023.
## **14 Debtors**
|**Debtors**|||
|---|---|---|
|Income tax recoverable|**2022**
**£**
15,371|**2021**
**£**
13,476|
||15,371|13,476|
## **15 Creditors: amounts falling due within one year**
|Accrued expenses
Advance payments received|**2022**
**£**
4,579
-|**2021**
**£**
3,342
3,600|
|---|---|---|
||4,579|6,942|
20
## **WIDCOMBE BAPTIST CHURCH NOTES TO THE FINANCIAL STATEMENTS**
## **YEAR ENDED 31 DECEMBER 2022**
## **16 Movements in funds**
**For the year ended 31 December 2022**
|**Restricted Funds**
Building fund
Mission to Europe
Bridgemead
Innovista
Barnabus
May Culver Funeral Offering
Gifts to Individuals
**Unrestricted Funds**
Designated (Auxiliary) funds
Designated Building Fund
Property revaluation reserve
General funds
**Total funds**|**At 1**
**January**
**2022**
**£**
-
100
-
-
-
-
30|**Income and**
**Gains**
**£**
39,038
8,564
81
10,079
150
770
21,657|**Expenditure**
**and Losses**
**£**
-
(8,664)
(81)
(10,079)
(150)
(385)
(21,502)|**Transfers**
**£**
(39,038)
-
-
-
-
-
-|**At 31**
**December**
**2022**
**2**
-
-
-
-
-
385
185|
|---|---|---|---|---|---|
||130|80,339|(40,861)|(39,038)|570|
||2,249
27,317
444,671
1,220,406|4,509
-
74,384
368,747|(4,705)
(9,449)
(367,780)|-
(17,868)
1,026,945
(970,039)|2,053
-
1,546,000
251,334|
||1,694,643|447,640|(381,934)|39,038|1,799,387|
|||||||
||1,694,773|527,979|(422,795)|-|1,799,957|
## **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. Building Fund expenses are capitalised as "Church extension" (note 12) and booked as Transfer to General Fund (note 16) with the contra being a credit to the General Fund (Note 12. The Building Fund is now closed.
## **Bridgemead**
A Christian Home for the elderly. These gifts are to support the project to protect the building from flooding.
## **May Culver Funeral Offering**
The widow of a former pastor. Funds have been distributed in accordance with the family's
## **Innovista**
Provides practical support and training to Christian leaders in the Ukraine and other parts of eastern Europe. In 2022 we provided £10,079 to help local churches support refugees in Ukraine.
## **Barnabus Fund**
Provides spiritual and practical assistance to persecuted Christians. Our gifts were for flood relief in Pakistan.
## **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.
21
## **WIDCOMBE BAPTIST CHURCH NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2022**
## **16 Movements in funds -** _**continued**_
## **Designated funds**
Designated funds are included within unrestricted funds in the SOFA and include:
## **Designated Auxiliary funds**
For Junior Church, Youth Groups, Men's' Breakfast, Ladies Brunch, Toddlers and Coffee Plus.
## **Designated Building fund**
The trustees set aside £60,000 from the General Fund to support the building project and refurbishment of the existing premises. Expenses relating to AV, Insurance, finance costs and other work done "in-house" were charged to this fund. The work was completed in 2022 leaving £17,868 unspent, which is transferred to the General funds.
## **Property Revaluation Reserve**
The total of property value unrealised gains accrued to date included in the balance sheet. The value of the revaluation reserve has been corrected this year by way of a transfer from General funds of £1,026,945.
## **For the year ended 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|**Income and**
**Gains**
**£**
313,219
3,380
25,235|**Expenditure**
**and Losses**
**£**
-
(3,380)
(28,234)|**Transfers**
**£**
(646,244)
-
(163)|**At 31**
**December**
**2021**
**£**
-
100
30|
|---|---|---|---|---|---|
||336,317|341,834|(31,614)|(646,407)|130|
||1,996
46,938
1,341,000
533,478|1,783
-
-
383,046|(1,530)
(19,621)
(896,329)
(342,525)|-
-
-
646,407|2,249
27,317
444,671
1,220,406|
||1,923,412|384,829|(1,260,005)|646,407|1,694,643|
|||||||
||2,259,729|726,663|(1,291,619)|-|1,694,773|
22
## **WIDCOMBE BAPTIST CHURCH NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2022**
## **17 Analysis of net assets between funds**
## **As at 31 December 2022**
|Restricted funds
Unrestricted General funds
Unrestricted Designated funds
**Total funds**
**As at 31 December 2021**
Restricted funds
Unrestricted General funds
Unrestricted Designated funds
**Total funds**|**Tangible**
**Fixed**
**Assets**
**£**
-
947,771
-|**Investments**
**£**
-
700,000
-|**Other**
**Net Assets**
**£**
570
149,563
2,053|**Total**
**£**
570
1,797,334
2,053|
|---|---|---|---|---|
||947,771|700,000|152,186|1,799,957|
||**Tangible**
**Fixed**
**Assets**
**£**
-
961,170
-|**Investments**
**£**
-
600,000
-|**Other**
**Net Assets**
**£**
130
103,907
29,566|**Total**
**£**
130
1,665,077
29,566|
||961,170|600,000|133,603|1,694,773|
## **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.
23
## **WIDCOMBE BAPTIST CHURCH NOTES TO THE FINANCIAL STATEMENTS**
## **YEAR ENDED 31 DECEMBER 2022**
## **19 Related party transactions**
## Trustee remuneration:
Remuneration, pensions and benefits for employed Trustees was as follows for the year ended 31 December 2022.
The minimum number of Trustees that held office in the year was 11 (2021: 11).
|**Salary &**
**Employer**
**NI**
**£**
P Mallard (retired as pastor August 2022)
20,836
T Heasman (appointed Pastor September 2022)
18,941
C Todman
25,823
L Battle (wife of Trustee)
9,410
R Evans
40,039
115,049
Donations (excluding Gift Aid recovered) received from Trustees|**Salary &**
**Employer**
**NI**
**£**
20,836
18,941
25,823
9,410
40,039|**Employer**
**pension**
**£**
2,454
1,623
3,891
871
4,154|**Total 2022**
**2**
23,290
20,564
29,714
10,281
44,193|
|---|---|---|---|
||115,049|12,993|128,042|
|||||
||||65,599|
## **Comparative Trustee Remuneration 2021**
|**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|**Salary &**
**Employer**
**NI**
**£**
36,388
22,307
38,789|**Employer**
**pension**
**£**
4,089
2,319
4,090|**Total 2021**
**£**
40,477
24,626
42,879|
|---|---|---|---|
||97,484|10,498|107,982|
|||||
||||48,795|
24