Charity registration numbor 1126884 tHORNHILL Baptist Church ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021
THORNHILL BAPTIST CHURCH LEGAL AND ADMINISTRATIVE INFORMATION Tru$teo¥ Matt Clarke- Treasurer Sian Tomlin - Secretary P8uI Vaswani - Senior Min151er Astrid Vaswani - Community Ministèr Kerstin Goodall - Dèacon Sara Sealey- Deacon Brian Osler- Deacon (Appointed 17 May 20221 IAppoint$d 17 May 20221 (Appointed 17 May 20221 Charlty number 1126884 Prlnclpal addre88 Thomhill Baptist Church Thomhill Road Soulhamplon Hampshire S015 STR Indep•nd•nt •xamln•r Frances Wilde FCCA DChA Warn8r Wlld8 Chartered Certlfied Accountants 4 Marigold Orive Bisley Surrey GU24 gSF B•nk•rn B8ptl81 Union Corporation Llmlted Baptist House PO Box 44 129 Broadway Didco OX11 8RT Lloyd5 Bank PLC 413 Bilt8rnè Road Bitterne Soulhamplon S018 1DA
THORNHILL BAPTIST CHURCH CONTENTS Page Trustees. report Independenl examinarfs rwrt Ststemenl of finanaal activities Balance sheel Noles to the financial Stslemenls 7-23
THORNHILL BAPTIST CHURCH TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2021 The trustees Present their annual rep)rt and finawal statements for the year ended 31 December 2021. The financial 3ts1ements have been prepared in accordance with thg a¢¢ounting policies set out in note 1 to the financial statements and comply th the charity's goveming ¢Jocumenl. the Charities Act 2011 and "Ac¢ounting and Reporting by Charrti•s'. Statement ol Recommended Practice appli¢ai4è lo charities preparing their accounts in accordance with the Financial Reportiro St8ndafd applicable in the UK and RepU1C ol Ireland IFRS 1021. leffe¢live 1 January 20191. Objectlve$ and actlvltles The objects ol the charity are as below and sel oul in r( detail in the Goveming Document. Tha principal purpose ol the Church is the advancemenl ol the Chrislian lailh according lo Ihe principles Of Ihe Baptist denomination. Th8 Churc may also advancè education and carry out other charitable purposes in the United Kingdom andlor other parts of the r1d. The trustees regularly rgview Iho aims. Objectiv and a¢tiwt ol Ihe tharity. They have consldered the Chanty Commissim's genoral gubdanc& on public benefit and ils $uppl8m&ntary guiLl8nce on the 8dvancement of relioion for Ihe pU1C b8nefil. Achl•vem•nts and perfomi¥nc• A$ wilh most charities and oryanisatsons the activitie5 01 the church conts'nued lo be 5ignifi¢antly impacted by reslriclions resulting from the Coron8ViTUS pandemic. The thanging regulatsons and guidance on social dlstancing created conlinval ¢hallèn98s ol how to enatAe service$ and acliwknes io pro¢eed without putting our ngrégation at unnecessary risk.During Ihe s8cond hdf ol the year we moved back to in-person 8ervicgs with socially distanced seating and a booking system. As a result of the success of publishing our Sunday moming St1¢¢$ onlim we expansjed our digital capability lo enable us lo Iivè-slr&am and create video recordings of Sunday servics and continue to en9age wslh those who rem8ined anxious of meeting in-pefson and also widen our digrtal reach. Zoom video ¢onlerèncing continued io be used ext¢nsiv8ly by Housegroups and other group meelings. Wilh our new tachnology capability in place by tha end ol the year we were also able lo offer hybrid Church m8etings to maximise thè members thal were ab lo be InV¥8d in church business meetings. Flnanelal r•vlew The budget for the year had been set Mth an expected level of uncgrtainty due to the thanglng pandomic environment and hence a draw upon historic surplus was anticipalod lo be necessary. H811 Hlre continued to be svJnificanlly impacted by the pandemic regulatsons Prèventing gTOUPS meeting indoors for much ol Ihe year and hiring groups only 0¥AY started to retum to nomal during the third 8nd fourth quarler of the year. This resulled in hall hire ineom• b8lng less than 50% of pre-pandemic I1s. With activitiès r•slarb'twJ. bLrt with lower attendancès expenditu increased from the pr8vlous year. Financial support of Ihird-party causes continued to fom an Fmportanl parl of the church 5 finances during the year. wth a signfficant amount sent to BMS Worfd MiSsn and Bethesda. thè Indian orphanage Charity that the church supports. Our financial support to yo(Kt causes and missionary work both in this country and abroad totalled £23,504. The trustees and a separate finance (xjmmiitee rleW the budgel and finanual nsk$ of the church on a regular basis. At the end of the fin8ndal year the church had £847.174 of re5tii¢tèd lunds (mainly the churth propgrtie51 and £867.997 of unreslrided funds linduding £538,020 property revaluatM)nl.
THORNHILL BAPTIST CHURCH TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021 The Iruslees consider that the level of free reseNes required by the churcth should be held at a minimum of £67,600. This is detemiined from an annual assÈssment by the trustees ol the most significant financial risks that thè church faces. their size and 1ik8lihoDd of coming to fruition. The trustees have plans lo use a portion tsf the reserves surplus towards funding th8 Children and Families worker over the Coming years until such tim8 as the income grows lo cover il in lull. Structure, governance and managèment Thc>rnhill Baptist Church was established by a charitable trust deed in 1950 and reglstered as an independent charity in 2008. The DeanS and ministers (all of whom are also Trustees for a5 long as these roles are held) who served during the year and up lo the date ol signature of the finan¢ial slalemènls were.. David Goodall- Deacon Mall Clarkè Treasurer Gareth Jenkins - Deacon Sian Tomlin- Secretary Paul Vaswani Senior Minister Astrid V8swani - Community Minister Robert Ainslie- Deacon M Pèèl Frances Collins- Deacon Kerslin Goodall- Deacon Chris Mcconnell - Deacon Sara Sealey- Oeacon Brian Oslef- Deacon (Resigned 17 May 20221 (Resigned 17 May 20221 IResKJned 17 May 20221 (Resigned 1 May 20211 IResigned 17 May 20221 (Appointèd 17 May 20221 (Appointed 17 May 2022 and resigned 15 September 20221 (Appointed 17 May 20221 (Appointed 17 May 20221 Deacons 8re nominated lor election from the membership by 8 minimum ol fv40 proposers. Deacons are appointed lor a term of three years by a vote ol at least 66QA of voting member5. Deacons are appointed lor an initial tem) of three years, and may be reappointed lor a further three years. Other than the Church Secretsry and Treasurer positions, all deacons may server no longer Ihan a continuous six year period. The Deacons and ministers (all E)f whom are also Trustees for as long as these roles are h8ldl lor the year are listed above. Th8 training of trustees is discussed al their meètsngs and the church budget includes provision lor tha cosls of any required training lo be met. The trustees. report was approved by the Board of Trustees. Paul Vaswani Senior Minister Trustee Dale..
THORNHILL BAPTIST CHURCH INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THORNHILL BAPTIST CHURCH I report to the trustees on my examination of the financial statements ol Thornhill Baptist Church (the charilyl for the year ended 31 DecerHber 2021. Respon5ibilitl95 and basi5 of rgport As thè trustees of the oharily you are responsible Iof the preparation of Ihe financial statemenis in accordanc8 with the requirements of the Charilies Act 2011 (the 2011 Acti. I report in respect of my examination of the ¢h8rity's financial statements carried out under section 145 of the 2011 Acl. In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under Section 14515llbl of the 2011 Act. Independent examiner's statemènt Your attenlion is drawn lo the fact that the eharity has prepared financial statements in accordance with Accounting and RerK)rting by Charities preparing their accounts in accordance with thé Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 in preference to the Accounting and Reporting by Charities.. Statement of Recommended Practice issued on 1 April 2005 which is r8ferred to in the exlanl regulations but has now been withdrawn. l understand that this has been done in order for financial statements to provide a true and fair view in accordance with Generally Accepted AUntIng Practice effective for reporting periods beginning on or after 1 January 2015. I have cofflpleted my examination. I confirm that no matters have come to my attantion in connection with the examination giving me causè to bèlieve Ih8t in 8ny material respect,. accounting records We not kept in respect ol the charity as required by section 130 of the 2011 Act., or the financial statemènts do not accord with those records., or the financial 51alemenls do not comply with the applicable requirements conceming the fomi and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requiremenl Ihal the accounts give a true and f8ir view which is not a matter considered as part of an independenl 8xamin8ti0n. I have no eon¢8ms and have come across no othèr matters in conneclion with th6 èxamination lo which attention should be drawn in this retK)rt in order to enable a proper unders18nding of the financial statem8nts to be reached. frfuJ_ Fran¢•s Wilde FCCA DChA Warner Wilde Chartered Certified Accountants 4 Marigold Drive Bisley Surrey GU24 9SF Dated.. 26 OCtor 2022
THORNHILL BAPTIST CHURCH STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2021 Current financial year Unrestricted UnrgStricted Rèstriet funds funds funds g•noral designated 2021 2021 Total Total 2021 2021 2020 Notes In wm Donations and legacies Charitable aclivits'es Investments Other income fr 136,425 9,283 24,216 7,291 143,716 9,283 24,216 153,201 9,074 22,938 71 Total incorne 169.924 7,291 177,215 185.284 ndilu Raising funds 31 Charitable acb'vilies 185,502 18.595 204,097 188,950 Total •xpenditure 185,502 18,595 204,097 188.981 Net gainslllossesl on investments 13 538.020 538,020 N¢t incominglloutgoingl r•$ource5 beforè transfer$ 522,442 111,3041 511,138 13,6971 Net incomingllout90ingl resourcas bèfore transfers 522,442 111,3041 511,138 13.6971 Gross transfers betwe6n funds 15001 500 Net incomellexpenditurèl for the yearl Net incominglloutgolngl resources 521,942 500 111,3041 511,138 13.6971 Other recognised galns and10sBes Actuarial gain on dtsfined benefit pension schemes 946 946 12,874 Net movement in funds 522.888 500 111.3041 512.084 9,177 Fund balances at 1 January 2021 344,609 858.478 1,203,087 1,193.910 Fund balances at 31 Decembar 2021 867.497 500 847,174 1,715,171 1,203,087 The statement of financial activitiès Include5 all gains and losses rècognised In the year. All Income and eXpendture derive from continuing activities.
THORNHILL BAPTIST CHURCH STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED) INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2021 Prior financial year Unrestrietèd Re5trict8d funds funds 2020 2020 Total 2020 Notes In Donations and legacies Charitable activities Investments Other income 148,282 9,074 22.938 71 4,919 1 $3.201 9,074 22,938 71 Total Income 180,365 4,919 185,284 Raising funds 31 31 Charitable activities 172.853 16.097 188,950 Total èxpendlture 172,884 16.097 188.981 Net gainslllossesl on investments 13 Net ineominglloutgoingl rèsources befom transfor8 7,481 111,1781 13,6971 Net incomel{expenditurel for the yearl Nat Incominglloutgolngl resources 7,481 111.1781 13.6971 Othèr rècognised gains and losses Actuarial gain on defined benefit pension schernes 12,874 12,874 Net movement in funds 20.355 111,1781 9,177 Fund balances al 1 January 2020 324,254 869.656 1,193,910 Fund balances at 31 December 2020 344,609 858,478 1,203.087
THORNHILL BAPTIST CHURCH BALANCE SHEET AS A T 31 DECEMBER 2021 2021 2020 Notes Fixed a$sgts Tangible assets Investment woperties 14 15 822.716 770.OCrf) 1,071.296 1.592,716 1.071.296 Current assets Debtors Cash al bank and in hand 16 8,755 140.655 28,051 133.005 149.410 161.056 Creditors: amounts falling due within onè year 17 {6,2551 13,5231 Nel current assets 143.155 157,533 Total assets less current Ilabillties 1.735.871 1,228,829 Provlslons for Ilabiltties (20.7C(JI 125.7421 Not assÈts 1,715,171 1,203,087 Income funds Restricted funds led fun Designated funds General unrestricted funds 20 847.174 858,478 nr 21 867.497 344,609 867.997 344,609 1.715,171 1,203.087 The financial ments were approved by thè Tnjstees on ?].//o/&2zZ Matt Clark8- Tr8asurer Tru$toe Paul Vaswani - Senior Minisler Trustee
THORNHILL BAPTIST CHURCH NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 Accounting poll¢l•s Charity infomiatlon Thomhill Baptist Churth is a tharitatAe unintx)rporated assWatiC. 1.1 A¢¢ountlng convention The fin8nual statements have been wepared in accordan¢e wth the charity's goveming drument. the Charities Act 2011. FRS 102 -The Finanual Reporting Standard applicable in the UK and Republic of Ireland- I"FRS 102-1 and ihe charib.es SORP "AccountiThJ and ReKx)rting by Chanties." Statement of R8commended Practice applicable to charitses prepanng their accounts in accordance with the FinanGial Reporting Standard applicable in the UK and RepU1C of Ireland IFRS 1021" leffective l January 20191. The charity is a PUNIC Benefrt Enttty as defined by FRS 102. The charity has taken adwantag8 of the provisi0r in the SORP for charitie5 nol to prepare a Statement of Cash Flows. The finanoal s13tèments have depart from the Charities (Accounts and Reports) Regulations 2008 only to the exlent required to provide a true and fair view. This dèparture has involve(I following the Staiernent of Recornmen¢Jed Practice for charities applwng FRS 102 rather th8n the version of the Ststement of Recommended Practi which is ler lo in the Regulab"ons bul whth has sbrbce been withdrawn. The finanaal statements are pfepared in sterfing. which is the functional Gurrency of the charity. Monetary amounts In thèse finarKial staiements are rounded io the nearest £. The finanual statements have been wepared under the hislorical wsl convention, Imodified to indude Ihe revaluatron of freehold properties and lo indude investrnent properties and certain financial instruments at fair valuel. Th& principal accounb.ng poliues adopted are sel out bèlow. 1.2 Goin9 concern Al the tifne of approving ihe financial slatements, the truslees have a reasonable expeciation ihat the charity has adequale resouTGes to continue in operatK)nal existence for the foreseeable future. Thus the trustees continue lo adopt the going conceTn basis of accc¥Jnting in preparing the financial slalements. 1.3 Charitabl* funds Unrestricted funds aro available for use at the discrelion of the truslees in furtherance of their charitable objectives. Restricte(I funds are gjbject to specifiG ndinS by donors as to how they may be used. The purposes and uses of Ihe restricted lunds are sel oul in the notOS to Ihe financial slatements. Endowmenl funds are stjbiect lo swfic condilw)r6 by thnors that the car1 must maintained by the Gharily. 1.4 Incomo Income is lecognised whèn the charty is legaly enlitled to it after any performanc8 conditions have been met. the amounts can be measure(I reliably. and it is probabk Ihat incorne will be received. Cash donations are reJ[Fi$e{l on receipt. Olher donab.S are rec(NJnised once the charity has been notified of Ihe donation. unless performanc£ conditw)ns require deferral of the amount. Incorne tax recoverable in relab.on to donabons received under Gtft Aid or deeds of covenant is recognised at the tim8 of the donation.
THORNHILL BAPTIST CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021 Accountlng polici•s (Continued) Legacies are recognised on receipt or olhemse rf the rity has been notified of an impènding distribution. the anK)unt is known. and r1p1 is expecle(l. If the anKsLbnt is not known. the legacy is treate as a conb"ngenl assel. 1.5 Expenditure Expenditure is recognised once the is a legal or constructNe olgatiOn lo transler economic benefit to third party, it is probable that a transfer of economic benefits will be quired in setuement, an¢J the amount of the Obligat can be nasured l?bty. Expenditure is classified by activity. The costs of each activity are made up of the totsl of direct costs and shared costs. induding support costs involved in undèrtaking each acbvty. Direct costs attributsblè to single adiwty are allocated diredy to that aLVIty. Shared costs which contribute to more than one activity and support costs whi¢h are nol attn"butable to a sirbgle activity are apportionèd b•eefi those actsvities on a basis consistent wilh the use ol resour. Central siaff costs arg alloG4led on the basis ol time spent, and depre¢i8b"on charges are allocated on the of the assel's use. 1.6 Tanglbl• flxed assets Tangible fixed assets a initially measured at cost and subsequently measured at cost or valuatk)n, net of depieciation and any impairnient losses. Depreaation is rgcognised so as to wrile off the a¥st or valualion of assets less their residual v3lu8s over their usèful lives on thè following bas8S". Freehold property Church im[vements Freehold improvennts Equipment 1%oncost 1% On$t 5% on cosl &20% on cost The gain or loss arising on the disposal of an asset 15 detemined as the dTfference between the sale pred$ and the carrying value ol the ass¢L and is re(wnised in the statemenl of financial activibes. l assets costing mofe than £500. with a useftJl151e of more than years. are capitalised. Assets afe stated at cost less accumulale(I deat)n. The onginal cost of the thurch premis8s is rK)I known". however the depreciatèd cost of the major improvements made since 2007 is conshlered lo adequately proVe a net book value of th& current buildings. 1.7 Investment properties Investment property, which is propety he to eam renlals andlor for caprtal appreciation, is initially rècogniseil at cost. which indudes the purchasè cost and any diredy attributable expenditure. Subsequently il is measured at fair value at the reFM)rting ènd date. The surplus or deficit on revaluation is recognisèd in profit (K loss. 1.8 Impalrm¢nt of fbxed a$s¢ts Al each reporting end datè, the charity reviews the carrying amounts of ils langible assets to determine whethèr there is any indicatson that those awts have suffered an imp8irm8nt loss. If any such indication exists. Ihe recoverable amount of the asset is estim8ted in ¢Jrder lo determine extent of the impaimienl loss {if any).
THORNHILL BAPTIST CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021 Accounting polSci•s {Contlnuodl 1.9 Cash and cash ¥quivalents Cash and Cash equivalents include cash in hand. dep%)5its held at call with banks. other short-lerni liquid investments with original maturilies ol three months or kn, and bank overdrafts. Bank overdrafts are shown w¢thin borrowings in Current liabilities. 1.10 Financial Instrumènts The charity has elected lo apply the provisions of sacti 11 'BaS Financk41 Instruments. and Section 12 'Olher FInancl Instruments Issues, of FRS 102 to all of rts financk?l instrurwEnts_ Financial instruments are recognised in the (arilYs balar sheet when the charity becomes party to the contraGtual provisw)ns of the instrument. Financial assets and li8bilrties are offset, vrith the net amounts presented in the financial staternenls. when therè is a legally enforceable right to set off the re¢tyJnised amounts and there is an intention to sèttle on a net basis or to realise the asset and 5ethe the liabilty simultaneously. Basle financial ass•ts Basic financial assefs. vthich indude debtors and cash and bank balances. are inrtially mèasured at transaction price including transaction costs and are subsequenuy carried at the cash or other consideration expected to be received, unless the arrangèmenl constitutes 3 financing transaction, where the Iransaction is measured at the Psent value of the fvture receipis discounted at a markel rale of intorast. Ba$1¢ financial liabilities Basic financial liabilities. including creditors and bank loans are initially recognised 81 lr8nsath.on price unless the arrangement constitutes a finanang transaclion. where the debt instrument is measured al the present value of the fuluie payments dis¢ounted al a mart(et rate ol interest. Basic financial l¢abilib'es are subsequently m8asured at Ihe cash or other cons#lerat expethd o b& paid. Debt instnjmenls are subsequentyy carried at amortrs&J cost, usirwJ the effective interest rate melhod. Trade creditors are obligations to pay for go(MJs or sem$ that have been acquired in the ordinary course of operations from suppliers. Arnounts payable are dasstfièd as current liabilrlies il payfftent is due within one year or less. If nol. they a presented as norcurrent liabilitsès. Trade creditS ar6 renised initially at transaction price an(J subsequenlly measured at am0"Se oJst using the effective InteSt method. Derneognitlon of finanelal liabilities Finanoal liabilities a dere(x3nised when Ihe chartty's contraclual 019a"0rts expire or are discharged or cancelled. 1.11 Employge nèffts The cost of any unused holiday enliuement is rewised in the pen(MJ in whith the employee's services are rec8ived. Termination benefits are recogn15ed immediately as an expen$9 when the charity is demonstrably committèd to tern)inate the eMOyMent of an ernOyee or to provide termination Inefits.
THORNHILL BAPTIST CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021 Accountlng pollcie• {Contlnu•d} 1.12 R•tlr•m•nt b•n•flts Payments to definetl C¥)Dtnbutn retirement benefft schemes are charg8d as an 8xpens8 as they lall due. The rKJsl ol provKling benefits under defined b8n8fft plans is detgmiined separately for each plan using lh8 propcled unil credit methoy, and is based on actuarial adv. The change In the nel ¢Jefined benefit li8bility arisirrfJ from employee sewvice during the year is reccgni$gd as an m0Y08 cost. cost of an introdu¢tws. bongfit chang8s. setllements 8nd ¢xJrt8ilments are recognised as incurred. Tho nel inter8sl el8ment is determined by muttiplying the net defined benefit liability by th8 discount rate, taking into &counl any changes in nel defined benefit lialIty during the period as a result ol conlribullon and berfil payments. The net interest is renised in in¢omellexpendlturel for the y•ar. Rfrmeasurement Changes comprise actuarial gains and losses. the effecl of the asset celling and the return on the net defined benefit liability exduding amounts indu¢J8d in nèi int8rèsl. These are recognised immediately in olher rwnisèd gain$ and losses in tha pariod in which Ihay ttcur and ar6 nol rèclassifiad lo Incomellexpenditurel in subsequent pericJs. The net defined benefit pension a55el or liability in the balarKè sheèt ¢ompri$e$ tho total lor each plan ol the present value ol the defined benefit obligation lusir@ a discount rate based on high quality corporate bonds), less the fair value of plan assets SJJI of whh the 019allonS are to be sewed directly. Fair value is based on market price inlomatn, and in the $• ol quotod socurilias 1$ th8 publish8d bid price. Th8 value ol a nel pansion b8nefit assat is limrted to the arrUnt that may be recovered either through reduc8d contributions or agreed refunds from the stheme. Crlll¢al accountlng •8tlm•t•• •nd Judg•m•nt• In the application of the th8nty's aeeounling kx4ides, the thJslee$ a requlred to m8ke Judgements, estimates and asSuMptn5 atK)ul the carrying amounl of assets and liabilities that are not readily apparent from other sources. The estimates and asswated 8ssumpiions a bas¢d on hi$torical oxpèri&n¢o and other factors that arè consid8rèd to b• r818vant. Aclual resulls may diller from these esknmates. The estimates and underfwng assumptions ère reviewed on an orwing basis. Revisions to accounting estimatgs are r¢cognised In Ihe period in which the esiimale is revise(I Whe Ihtr fevision affects only that périod, or in the poriod of ihe revNon and future periods where the rewsion affgd$ both currenl and fvtur periods. Oonatlons and lega¢l•¥ Unrestricted Rtri¢d funds lund• general 2021 Total Unr8strict•J R8Stnct8d funtjs fvnds general 2020 Total 2021 2021 2020 2020 Donations and gifts Legacies receivable 131.425 5,000 7.291 138.716 5.OCKI 143.282 4.919 148.201 5,000 136.425 7.291 143.716 148.282 4.919 153.201 10-
THORNHILL BAPTIST CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021 Charttable actlvttle¥ 2021 2020 Charitablé rental income Othgr income 7.575 1.708 6,148 2,926 9.283 9,074 Inv•stm•nts Unr•8trlet•d Unrestricted lunds lunds 90neY•l general 2021 2020 Rental income Int8r8sl IalVable 24.083 133 22,909 29 24,216 22,938 Oth•r in¢om• Total Unrestriclod funds general 2020 2021 Other incomg 71 R•l$lng funds Total Unrestricted fvnds general 2020 2021 Olhei fundraising costs 31 31 11
THORNHILL BAPTIST CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED FOR THE YEAR ENDED 31 DECEMBER 2021 Charttabl• activitles 2021 2020 Staff costs Depreciation arwj imp8imwnt Minislry Establishmenl 115,608 13.641 9,279 23,575 118.460 16.935 1,183 18,734 162.103 155,312 Grant lunding of 8Ctivilie$ Iw note 9) 23.503 16.658 Share of SLSPPOrt costs (see nole 101 Share ol governance wsts (see te 10) 16.616 1,875 16,332 650 204,097 188,950 Analy•l$ by fund Unreslricted funds. gonoral Restricted funds 185,502 16.595 172.853 16,097 204,097 188,950 Grants payabl• 2021 2020 Grants to instltutK)n$". Mission giving- overseas Mission giving- UK Baptist Missionary Soa'ety Southern Counties BaplislAssooalion ISCBAI Emergency Disaster Relief Fronlline Hardship Fund Harvesl Appeal Othèr 5,696 2,141 4.437 5.705 1,980 500 4,867 5,525 1,470 500 1,200 614 1,000 2,225 2.299 23.503 16,656 12-
THORNHILL BAPTIST CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021 10 Support costs Support Govomance costs ¢o$ts 2021 Support Govemanc costs costs 2020 Staff costs Depr&cialn Supwrt costs 5,139 2.960 8.517 5.139 3.976 3,293 9.063 3,976 3,293 9,063 8.517 Indepond8nl Examin8rs lees 1.875 1.875 650 16,616 1.875 18,491 16,332 650 16,982 Analysed befvmn Charilabla activities 16.616 1.875 18,491 16.332 650 16,982 The Independent Examinars f•88 Indude £495 Telating lo 2020 and £1380 (£1.150 + VATI relating lo the Ltrrenl year. 11 Tru¥tw• No sums w8re reimbursed to the trustees for Ihèir work 8S trustees12020- nonel. Remuneralion is aulhorised under seclion 20 of the Con$tittJtion in SpeCt ol the Ministers who are also truste&s. Thèy may receive reasonable rèmunwatK)n for their employment in th8 sèrvice of tho church nolwlthslanding Ihat they are trustees ol th• thurth. The lollow'ng amounts re rèc81V8blo :_ Pension Total Total Senior Minisler- Paul Vaswani 35,300 Cofflmunily Mlnisier- Astrid Vaswani 35,300 2,477 2.477 37,777 38,280 37.777 38,280 Payments totalling £4.750 were paid to 7 trustees and their related parties. in r8spgCt ol travel. pvblicalion5 and other reimbursed exp8ns&s during the year12020'. £5.869 lo 4 Irusleesl. 12 Employees The average monthly number ol ernoYeeS durlng t ye8r was.. 2021 Number 2020 Numbor 13-
THORNHILL BAPTIST CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021 12 Employtts IContlnu•dl Employm•nt costs 2021 2020 Wages and 5alafies Soci81 security costs Other pension C1$ 106.725 5.274 8,748 112,348 4,027 6.061 120,747 122,436 The Church pays nSIOn eonlribulion$ for its ministers lo Baptist Ministers Pènsion Fund which hi81ori¢ally was a final salary defined benefit scheme. not conlradèd oul ol the state $8¢ond pension. The Fund was Changed lo a defined contribution scheme lor futu service accnjal from 1st Jan 2012. Th scheme is a mulli-employer $cherne and as set oul in the accounting policies the church paid £4.419 towards reducing its share ol the mulli-employer Ih?b11ity in 202112020.. £3,257). This is trealed as a f•ducl¢on of the liability now boing r8cognised, arwj so is not dass8d as *xp8nditure. There were no eMOyeeS vthose annual remunerab'on was mtre than £60.000. 13 N•t galn8lllo•sMI on Inv••tm•nts Unr••trlctsd fundts general 2021 Total 2020 Revaluatson ol investment wopertigs 538,020 14-
THORNHILL BAPTIST CHURCH NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021 14 Tanglblg Ilx•d asset• Fr••hold Church Freehold Tot•1 Cost At 1 January 2021 Transfer to inv8slmenl property 270,828 1231.9801 918,313 34.987 58,339 1.282.467 1231.980) Al 31 Decembgr 2021 38.848 918.313 34,987 58.339 1.050.487 Depr•clatSon and Implrm•nt Al 1 January 2021 Depreciation charged in the year 36.139 2.709 110,087 9.183 19,049 1.749 45.895 2,960 211,170 16.601 At 31 December 2021 38.848 119.270 20,798 48,855 227.771 Carrylng •mount At 31 December 2021 799.043 14,189 9.484 822,716 Al 31 tkcember 2020 234.688 808.226 15,938 12,444 1.071,296 15 Inv••tm•nt prop•rty 2021 Falr valu• At 1 J8nu8ry 2021 Transfers from ass¢t$ in use Nel gains or losses through lair value adjustments 231.980 538.020 Al 31 Decembgr 2021 770,000 Investmenl property eomprfses ts¥o freehold Manse$. The lair value of the investment property has been arrived at on Ihe basi$ of a v81vation camed out at Ihe yeai end by a fruslee. The valualion was made on an open mat value basis by ralorgnce lo market 8vid8nce of trans[10 prices for similar properties. 11 is understood there is a covenanl Ihal restn.cts the sale of 1 W&)dlands Close. If inveslment properties were statod (m an historical cost basis raiher than a fair value basis, the amounts would have been indud8d as follows.. 2021 2020 Cost Ac¢umulaled depreuat 270.828 138.8481 cal.g anw)unt 231.980 15-
THORNHILL BAPTIST CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021 16 D•btars 2021 2020 Amounts falling due wlthln on• year: Other debtors Prepayments and accrued income 4,380 4,375 24.162 3,889 8,755 28,051 17 Creditors.. amounts falllng due withln on• year 2021 2020 Other laxati(M) aThJ socAal security Other creditors Accruals and deferred incc#me 2.325 913 3.017 2,176 348 999 6.255 3,523 Provisions for Ilabllities 2021 2020 Retsrement benefit obligats"<XIS 19 20.700 25,742 20.700 25,742 19 R•tirement benlt scheme5 Defined contribution 5chomès The charity operates a defined contribubon pension sctheme for all qualify.ng employees. The assets of the scheme are held separatety from those of the charity in an intjependenuy administered fund. The tharge to proffit or loss in respect of define(I cts)tribtslion schemes was £8.74812020- £6,061). 16-
THORNHILL BAPTIST CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021 19 Retirem•nt b•nÈfft sehem•s {Contlnuèdl Defin•d nefit schemes The Church is an employer partiupating in a wnsion scheme known as the Baptsst PensK)n S¢heme (kne Scheme"), which is administèrèd by the Pension Trustee IBapts"st Pension Trust Limited). The Schème is a separate legal entity and the assets ol the Scheme are held separately from those of the Èmployer and the other partiapatsrtg emkloyers. For any month. each path'opating employer in the Scheme pay$ contributions as set tyjt in thè Schedule of Contributions in for¢e at that time. The Scheme 15 considered to be a mUlti-emoYer scheme as described in Section 28 of FRS 102. Thls is because it is not pSIble lo attribute the Scheme's assets and liabilitie5 to speafic employers and means that contributions are accwnted for as rf the Stherre were a defined ¢ontributs"on scheme. The pensions ¢os15 charged to the SOFA in the year are contn"bub"ons payable towards bènefits and expenses accrued in that year. plvs any impacl of deficCY contr[but¥) (see ithl. 'The Ministers are eligible to pin the Stheme. Fr(Mn Janijary 2012, pension provision is being made through the Defined Contribution (DCI Plan wrthin the Scheme. In general. members pay 8°/0 ol their Pensionable Income and employets pay 6°k of membefs. Pensionable Income into individual pension accounts, which are operateil and managed on bef of the Pension Trustee by LwJal and General Life Assurance Society Limited. In addth"on. the employer pays a further 4% of Pensionable Income lo cover Oeath in servi Benefits, administralK>n costs, and an associated insurance policy which provides irrne proteth'on for Scheme rneMbe in the event that they are unable lo work due to long-tem) Incapaty. This incorne protection policy has been insured by the Baptist Union ol Great Britain with Aviva plc. Members of the Basic Section pay reduced cx)ntribul*)ns of 5% 01 Pensionable Incomè, and their employers also pay a total of 5¥0. The further 4 contribution rate is reduced to 3% lor Employer contributions made to the Segregated DC arrangement. Benefits in respect of service prior lo 1 January 2012 are provide(I through the Defined 8en8fit IDBI Plan thin the Scheme. The main benefits for pre-2072 service were a defined benefit pension of one eightieth of Final Minimum Pensionable Inwme for each year of Pensionable Servi¢e. together with additional pension in respect ol premiums paid on Pensionabte Incomè in exSS ol Minimum Pensionable Income. The Scheme. previously known as the Bapb"st Ministers. Pension Fund. 51arted in 1925. but was dosed lo future accrual of defined benefits lx) 31 Decerntr 2011. V8luation Actuarlal valuation as at 31 D•c•mber 2019 A forfflal valuation of the Defined Benefit IOBI Plan was performed at 31 December 2016 by a professionally qualified Actuary u&ng the ProJ'ecte(l Unrt Method. The market value of the DB Plan assets al the valuation dale was £219 millK)n. The valuation of the DB Plan VeIe 8 defi¢it of assgts Th)mpared th the value of liabilities of £18 million (equivalent to a pasi sèrvice funding level o194ts/DI_ The Church and the other employers supporting the DB Plan are collectsvdy $pc$1b lor ftAnding ihis dèfieAi. The key asSUmptnS underlying thè valuation were as f(Alows'. 17-
THORNHILL BAPTIST CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021 19 R•t5rnment b•neflt schomes Icontlnuodl Other information Typè of financial as5umplion'. %pa RPI price inflallon assumption CPI Pfice inflation assumption Minimum Pensionablg Income incrèasès ICPI plus 0.75°/D pal Assumed investment returns Pre-reliremenl Post relirèment Oèlarrad pension increases Pre April 2009 Post April 2009 Pension increase5 -main Schemtr pgnsion 3.20 2.70 3.20 2.95 1,70 3.20 2.50 2.70 Key assumptions 2021 2020 Dlscounl rale Expeclgd rale of salary increases Mortality &ssumplion8 Posl-relirernenl mortality in accordance with 75% 01 the S1 NFA 8nd S1 NMA tables, with allowance for future improvements in mortality rates from 2007 in Ilnè with the CMI 2016 core projections, with 8 long term annual rate of improvement of 7.75. lor males 8nd 1.sk lor fémale, with the core smoothing parameter 8nd with the odditional initial mortality improvement factor A-0.5%. The nexl actuarial valuatson ol Ihe DB Plan within the Schame is due lo take place not later than as al 31 D8c8mber 2022. Amounls recognised in the profil and loss account.. 2021 2020 Net interest on defined benefit liabilityll8ssetl 323 673 Amounts taken lo oiher cOMphnSive incom8'. 2021 2020 Actuarial changes related to oblig8lions 19461 112.8741 18-
THORNHILL BAPTIST CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021 19 Retlrement boneflt 8¢hom¢• Icontlnuèdl Thè amounts included in the balance sheet arising from the Chari15 obligations in respect of defined bentsfil plans are 89 follows., 2021 2020 Present value of defined benefit obligallons 20,700 25,742 Deficit in scheme 20,700 25,742 Movem8nls in the present value of defin8d bènefit obligalions.. 2021 Liabilities at 1 January 2021 Contributions from scheme members Actuarial gains and losses Inler8sI cosl 25.742 14,4191 19461 323 Al 31 Do¢omb&r 2021 20,700 Th8 d8fin8d benènl obllg811on8 8rl8e from p18n8 which ar8 wholly or partly funded. 19-
THORNHILL BAPTIST CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021 20 Restricted lunds The income funds of the tharity indude restrirted funds comrxising the fdk)wing unexpended balances of donations and grants hekt on trust for speofic purposes: Mov•m•nt in fvnds Movèmènt in funds Incomlng R•source$ BaLinGe at Incomlng Resources Balanco at re50ur¢es expended1 January 2021 resources expend•d 31 D*ewnbor 2021 8alance at 1 January 2020 Donations Toddler Group Church improvements Manses 3.626 1.252 4.879 15,0241 12691 3,481 1.023 7,291 17.791 2,981 1.023 817.410 47.368 19.1831 11.6211 808.226 45.748 19.1831 11.6211 799.043 44.127 869.656 4,919 116.097) 858.478 7.291 (18.5951 847.174 The D¢)nations Fund represents the receipt and payment of rrKJnies collecied for various speafic causes (pèr noté 91. The Toddler Group fund repsents donati$ grven $[c811Y for the of the Tod<Jler Group. The net book value of the Church improvements and IAanses are treated as restri¢ted funds whèn, under the lem)s of the Bapts"st Union rules and the trust deed. the proceeds of any sales must be used for the purchase of properts'es for the church. Depwiation on these properties is treated as restricted expenditure. 21 D•signatad funds The incorne funds of the charity indude the follovling designated fiJrK15 which have been set asit1e out of unrestricted funds by the ITU5lees for purposes". Alovement in funds Incornlng Balance at rWOu•S1 January 2021 Transfqrs Balance at 31 De¢gmb¥r 2021 Donatson 500 500 Donation Contingency balance
QJ O 0)0 0)0 4 Tr- Z5 • •r r¥ Z5 4] * 4t •z¢¥ (* (
THORNHILL BAPTIST CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021 23 Voluntser tlme In accordance FRS102. the value of volunteer tirr is Trat recognised in the accounts. However it is a¢knOedged that Ihe church benefts significantly from all the work done by its volunteers. Without the kind donabon of their bme. the ¢hanty would nol be a& to provNJe resources as far rèaching and as bmaly. We are additionally 9rateful to the Leadership team who kindly provide time free of charge to run the church's oper8b.ons and ensu Com18nCe wrth (wjr many ot4igations. 24 Op¢rating lease commitments The opèrating lease relates to equipment. The leases 15 for a perK*J of 64 rrKMths and the rentals are fixed for that period. The lease can be cancelled after Ihis pèrKx1 by giving 3 nK)nths notice. Al the reportirvj end date the charity had ojtstanding commilmenls for future minimum lease payments undèr n0n-cancellae operating leases, fall due as fiAIows: 2021 2020 Within one year Between two and five years 562 1,825 2,387 2S Rèlated party transactions Transactions with related partlos During the year the charity entered into the followrJ transacticffls with rdated parties.. -22-
THORNHILL BAPTIST CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021 25 Related party transactions {Contlnuèdl The custodian Trustee d the church is the Baptist Union clatIOn Limited whi¢h is charity numbèr 24963S. and which is conlrolled by the Baptsst Union Council. The church is also a member of the Baptist Union of Great Bntain, and the Southem Counties Bapts5tAssociatKJn. The church made a donation to trx)th the Baptist unK Home Mission Scheme and the Soulhem Counties Baptist Asso¢iation as set out in note 9. Remuneration paid to trustees, who ale also ministers is set out in nole 11. The wile of the trustee. Matt Clarke. was emtAoyeil by the thurch on a nornial employment contract and reIved gross remuneration, induding pension benefits. of £7.44712020." £7.4471 and reimbursement of rK)rmal expenses.