Registered Charity number 1126971
Selsdon Baptist Church
Annual report and accounts 28 February 2023
Selsdon Baptist Church
Report of the Managing Trustees for the year ended 28 February 2023
Statutory Information
Selsdon Baptist Church (SBC) was founded in 1927 and became a registered charity on 27 November 2008, number 1126971. The governing document is a constitution adopted on 16 July 2008, which conforms with a model agreed by the Baptist Union and the Charity Commission.
SBC is a member of the following bodies:
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The Baptist Union of Great Britain
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The London Baptist Association
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The Evangelical Alliance
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Churches Together in Selsdon and Addington
Organisational Structure
As a member of the Baptist Union the Church subscribes to the Union’s Declaration of Principle:
“That our Lord and Saviour Jesus Christ, God manifest in the flesh, is the sole and absolute authority in all matters pertaining to faith and practice, as revealed in the Holy Scriptures, and that each church has liberty, under the guidance of the Holy Spirit, to interpret and administer His laws.
That Christian Baptism is the immersion in water into the name of the Father, the Son and the Holy Spirit, of those who have professed repentance towards God and faith in our Lord Jesus Christ who ‘died for our sins according to the Scriptures; was buried, and rose again on the third day’.
That it is the duty of every disciple to bear personal witness to the gospel of Jesus Christ, and to take part in the evangelisation of the world.”
SBC is an ‘open membership’ church. Baptism by immersion upon personal profession of faith is the normal mode of entry into membership, but persons seeking membership who have not been baptised in the manner described in the Union’s Declaration of Principle may at the discretion of the Church Members’ Meeting be accepted for full membership based on their own public profession of faith.
The church takes its responsibilities towards children and vulnerable adults very seriously and has policies and procedures in place for protecting them. These policies are reaffirmed annually by the church members.
Church Deacons and Officers
The members of SBC appoint Deacons and other officers with management responsibility who are the charity trustees.
SBC’s ministers are appointed by secret ballot of the membership.
Deacons are elected by secret ballot of the membership at the annual general meeting each November. Deacons are appointed for a term of 3 years and normally serve no more than two consecutive terms, and are eligible for re-election after an absence of one year. Appointments are staggered so approximately one third of Deacons retire each year. Church officers (Secretary and Finance Team Leader) are elected in the same way to serve for a term of 3 years but are eligible for reappointment without an enforced break.
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Ministry Team
Senior Minister/Team Leader Revd Trevor Neill, BA, BA, MPhil. Associate Minister Revd Denzil Larbi, BA until 31 August 2022 Youth Pastor Martin Wright, BA until 13 April 2022 Youth Worker Katie Canning from 1 September 2022 Children and Families Worke Hilary West from 14 March 2023
Charity Trustees
The following are the charity trustees of SBC.
Chair: Revd Trevor Neill, BA, BA, MPhil. Secretary Andrew Crossley Finance Team Leader: John Harrison
Deacons: Dawn Cox Andrew Crossley Paul East until 31 December 2022 Hilary Howard Kathryn Kane Mark Ridgway Norman Robinson Hilary West until 31 December 2022 Adam White
Address
Selsdon Baptist Church Telephone: 020 8651 4308 Addington Road Website: www.selsdonbaptist.org.uk Selsdon e-mail: office@selsdonbaptist.org.uk South Croydon CR2 8LL
Custodian Trustee for Property Assets London Baptist Property Board Limited Unit C2, Dock Street London E1 8JN
Bankers
CAF Bank Limited Barclays Bank PLC Kings Mill 1 Churchill Place West Malling London ME19 4TA E14 5HP
Independent examiner
Les Tasker FCCA Ryefield Ltd Unit 139 Airport House Purley Way Croydon CR0 0XZ
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Selsdon Baptist Church - Learning to love God and serve the community
Annual report – summary of activities 2022-23
Financial year ending 28 Feb 2023
Objectives and Activities
The leadership and membership of Selsdon Baptist Church are committed to promoting the whole mission of the Church, pastoral, evangelistic, social and ecumenical. It is committed to enabling as many people as possible to worship at our church and welcomes all into the services without prejudice. The leadership maintains an overview of worship in order for the services to involve the many groups that live within our community. Our services and worship put faith into practice through prayer and scripture, music and sacrament.
In November 2021, the church committed itself to a new vision statement, agreeing together on its desire to become:
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A God centred church: worshipping him, seeking to hear from him and learning to be more like Jesus through Word and Spirit
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A serving church: with a mindset like Jesus, putting the interests of others above our own
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A generous church: seeking opportunities to bless our neighbours in Selsdon and beyond, as we share the good news of God’s love, mercy and healing
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A kingdom church: demonstrating God’s kingdom here on earth through being a diverse people, welcoming all and challenging injustice
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A courageous church: willing to trust God for the sake of mission, embracing creativity and trying to perceive the new thing He is doing, investing rather than burying our talents
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A contemplative church: prioritising prayer over programmes and where rest and reflection are valued as much as busyness and activism.
In this way Selsdon Baptist Church aims to create a sacrificial and transformational community of disciples of Jesus Christ in Selsdon.
Selsdon Baptist Church is also responsible for the maintenance of the property in Addington Road in order to facilitate on-going use of the buildings by the wider community of Selsdon. In addition the Church is responsible for the maintenance of the three manses used by the Ministers, when in post, as part of their roles to lead and facilitate the mission and work of Selsdon Baptist Church.
Like many other churches, our return to a normal programme of activities following the Covid 19 pandemic has been a long and gradual process. However, in the period under review, we have been encouraged to see attendance at our services come close to those which occurred prior to March 2020. We have also been delighted to see an increasing ethnic diversity in our church, which we explored and celebrated in an ‘Interanational Sundy’ event in September 2022.
This increase in in-person participation has not been at the cost of online viewing figures. Our livestreamed services are regularly watched by over 100 devices. This service continues to be valued by many older and housebound members of our congregation, enabling them to maintain a sense of connection with the wider church family.
In spite of the restrictions caused by the pandemic, we have continued to offer a programme of activities which have been planned in light of the Commission’s guidance on public benefit and, in particular, the supplementary guidance on charities for the advancement of religion. In particular, we try to enable ordinary people to live out their faith as part of our community through:
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Worship and prayer, learning about the Bible and Christian faith and its relevance to contemporary issues.
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Provision of pastoral care for people living in the community.
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Missionary and outreach work which aims to meet the spiritual, mental and physical needs of those we encounter locally, and who we support further afield.
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During the period under review these activites have included several runnings of a series of bereavement workshops, entitied ‘Walking Together through Grief,’ offering support to those in our community who have recently experienced significant loss. Feedback indicates that these groups have been a vital means of support to those who have attended, some of whom now regularly come to the Stepping Stones café, a safe place where friendships can be discovered and deepened. The church also continues to offer a low-cost counselling service to the local community.
The church continues to welcome a growing number of parents and toddlers, twice a week, to its Adventure Tots group. From June to November 2022, monthly ‘Selsdon Hub’ meetings were run in partnership with Croydon Voluntary Action and other local community groups. Although attendance at these groups declined after a promising start, valuable lessons were learnt about how to engage with local residents. The church has also launched a Craft Group, which meets on a monthly basis and is open to members of the public.
The period under review was one of considerable change for our Ministry Team. Our Associate Minister-in-Training, Martin Wright, left in April 2022, to take up the position of Minister at Eastwood Baptist Church in Southend-on-Sea, and our Associate Minister, Rev Denzil Larbi, left at the end of August, to become Senior Minister of West Croydon Baptist Church. Our new Youth Worker, Katie Canning, took up her role on 1 September 2022. We have already appreciated the energy she has brought to our church youth work, having run midweek Alpha sessions, launched a midweek youth café and provided a mentoring service to local schools in addition to the running of Sunday groups.
We have also continued to run a regular programme of activities for children and their families. Our Adventure Tots group takes place on both Wednesday and Thursday mornings, and continues to be extremely popular with parents, grandparents and child minders from the community.
Regular activities for Seniors include the Tea-at-Three sessions held on the last Wednesday afternoon of each month and the annual Holiday-at-Home event held in July and attended by almost 40 local residents.
Use of the Church premises at Addington Road
In addition to the church’s programme of activities, our facilties have been used and appreciated by several other community groups. Selsdon Baptist Church Pre-School has continued to meet daily on five full days a week during term time, and our halls are also used by a Rainbows group on a weekly basis.
Selsdon Residents Association and Selsdon Contact Neighbourhood Care also use our halls for monthly meetings.
Ecumenical Activities
Selsdon Baptist Church is part of the Churches Together in Selsdon & Addington group, of which our Ministry Team Leader is chair. During the period under review, CTSA shared worship services at Easter, Pentecost and during the Week of Prayer for Chrstian Unity. The church also takes seriously its relationship with other Baptist churches, with the Ministry Team Leader playing an active role in the local Baptist cluster and also contributing to the work of the London Baptist Association.
Mission and Evangelism
Helping those in need is a demonstration of our faith and therefore the church has maintained its ongoing commitment to support other organisations involved in global justice issues. Not only is money raised for particular projects, but throughout the year time has been given to educate and enable members to reflect on the concerns of people in other parts of the world.
For Harvest 2022, the church invited members to support the work of International Needs, supporting a scheme which educates families and children in Uganda about how to value the needs and rights of those who are disabled. At Christmas 2022, we supported the work of Embrace the Middle East, specifically an appeal for those impacted by economic crisis in Lebanon.
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An important part of our commitment to mission is the support of a number of individuals who are working overseas. Since 1973 the church has supported two of our members who work as missionaries in India. Also in India, we have supported the work of Catherine Truman, who is working pro bono as a pharmacist in a hospital in southern India. Furthermore, through the Baptist Missionary Society, we now support educational development work undertaken by one of their staff team in rural Nepal. In June 2022, we also welcomed a speaker from FEBA, an organisation which uses audio and other media to share the Christian message across Asia, Africa and the Middle East.
The church has also continued to maintain its focus on environmental issues. We have maintained our status as a Fairtrade church and constantly review the premises owned by the church to ensure a high standard in relation to ecological issues.
Summary
In spite of the unprecedented challenges of the last year, Selsdon Baptist Church continues to be a church which offers a wide range of activities to its members alongside a consistent focus on looking beyond ourselves to the wider needs of the community.
The Trustees have had regard to the guidance issued by the Charity Commission on public benefit. The Trustees are confident that the wide range of activities undertaken by Selsdon Baptist Church in 2022–2023 have been in accordance with the key principles of public benefit set out in that guidance.
Reserves policy
The charity trustees consider that a reserve of six months operating costs, approximately £87,000 should be maintained. This is an increase from three months adopted in previous years., The general reserve at 28 February 2023 was £233,725 (2022 £181,360 after adjusting for the BU pension scheme deficit at 28 February 2022). The policy for investing reserves is to make best use of interest bearing deposits and not to invest in securities.
Risk policy
The trustees have implemented a risk management strategy comprising:
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An annual review of risks
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Establishment and review of systems and procedures to mitigate those risks
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Establishment and review of procedures to minimise the potential impact should any of those risks materialise.
Financial Results
SBC members have come very close to meeting the financial needs of the church for the year ended 28 February 2023. Total income for the year was £340,860 and expenditure £202,868, giving rise to a surplus before the actuarial adjustment on the defined benefit pension scheme of £137,992. Total closing funds were £1,573,660 of which £634,762 was restricted; £705,173 was designated; leaving £233,725 as general funds at the end of the year.
SBC is by its nature a voluntary organisation and no set of financial statements can do justice to all the work done in pursuit of its mission. In addition, many hours are spent by unpaid volunteer members manning the office and performing the many regular tasks in administration and other areas without which SBC would be ineffective. The financial statements do not record the value of those unpaid hours.
Statement of Trustees’ Responsibilities
Charity law requires the charity trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of SBC at the year end and of its incoming resources and resources expended during that year. In preparing those financial statements, the trustees are required to:
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Select suitable accounting policies and apply them consistently;
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Make judgements and estimates that are reasonable and prudent;
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State whether applicable accounting standards and statements of recommended practice have been followed subject to any departures disclosed and explained in financial statements; and
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Prepare the financial statements on the going concern basis.
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of SBC and enable them to ensure that the financial statements comply with the Charities Act 2011. The managing trustees are also responsible for safeguarding the assets of SBC and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Signed on behalf of the charity trustees of Selsdon Baptist Church
Andrew Crossley
Secretary
7 November 2023
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Independent Examiner’s Report
To the Trustees of Selsdon Baptist Church
I report to the trustees on my examination of the accounts of Selsdon Baptist Church (the Trust) for the year ended 28 February 2023 on pages 8 to 18 following, which have been prepared on the basis of the accounting policies set out on pages 10.
Responsibilities and basis of report
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).
I report in respect of my examination of the Trust’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
The charity’s gross income did exceeded £250,000 this year but did not in 2022, and I am qualified to undertake the examination.
Independent examiner’s statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
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accounting records were not kept in respect of the Trust as required by section 130 of the Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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.
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.
7 November 2023
L Tasker FCCA For and on behalf of: Ryefield Ltd Unit 139 Airport House Purley Way Croydon CR0 0XZ
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Selsdon Baptist Church Statement of Financial Activities
For the Year Ended 28 February 2023
| Notes Income and endowments from: Donations & Legacies 2 Charitable Activities 4 Trading activities Rental Income Investments Bank Interest Total Income Expenditure on: Raising funds 3 Charitable activities 3 Total Expenditure Actuarial gains (losses) on defined benefit pension schemes Net Income/(Expenditure) Transfer between funds Net movement in funds Fund balances brought forward Fund balances carried forward |
Unrestricted General Fund Designated Funds Restricted Funds 2023 Total 2022 Total £ £ £ £ £ 212,401 96,065 1,454 309,920 205,695 2,818 - 640 3,458 5,700 24,057 - - 24,057 14,884 3,425 - - 3,425 430 |
|---|---|
| 242,701 96,065 2,094 340,860 226,709 |
|
| 1,908 - - 1,908 1,905 173,832 25,194 1,934 200,960 252,246 |
|
| 175,740 25,194 1,934 202,868 254,151 |
|
| 34,154 - - 34,154 17,119 |
|
| 101,115 70,871 160 172,146 (10,323) (15,503) 15,503 - - - |
|
| 85,612 86,374 160 172,146 (10,323) 148,113 618,799 634,602 1,401,514 1,411,837 |
|
| 233,725 705,173 634,762 1,573,660 1,401,514 |
The notes on pages 10 to 18 form part of these accounts
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Selsdon Baptist Church Balance Sheet
For the Year Ended 28 February 2023
| Notes Tangible Assets Freehold Property 7 Equipment 7 Current Assets Gift Aid Recoverable Sundry debtors and Prepayments Bank and Cash 9 Total Current assets Creditors (amounts falling due within one year) Creditors and Accrued Expenses Net Current Assets Creditors (amounts falling due after more than one year) Multi-Employer Pension Scheme Provision) Net Assets Funds Restricted Funds 8 Designated funds 8 General Funds 8 Total funds |
Unrestricted General Fund Designated Funds Restricted Funds 2023 Total 2022 Total £ £ £ £ £ - 580,680 631,195 1,211,875 1,211,875 9,396 - - 9,396 12,768 |
|---|---|
| 9,396 580,680 631,195 1,221,271 1,224,643 |
|
| 19,489 19,489 16,102 5,714 5,714 5,179 211,240 124,493 3,567 339,300 192,288 |
|
| 236,443 124,494 3,567 364,503 213,569 (12,114) - - (12,114) (7,946) |
|
| 224,328 124,494 3,567 352,389 205,632 |
|
| - - - - (28,752) |
|
| 233,725 705,173 634,762 1,573,660 1,401,514 |
|
| - - 63,762 634,762 634,602 - 705,173 - 705,173 618,799 233,725 - - 233,725 148,113 |
|
| 233,725 705,173 634,762 1,573,660 1,401,514 |
The notes on pages 10 to 18 form part of these accounts
These accounts were approved by the charity trustees on 7 November 2023
Signed on behalf of the charity trustees
Andrew Crossley John Harrison Secretary Trustee
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Selsdon Baptist Church
Notes to the accounts for the year ended 28 February 2023
1 Accounting Policies
a) The accounts have been prepared under the historic cost convention, 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 4,602UK and Republic of Ireland (FRS 102) issued on 16 July 2014; and with the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011 and UK Generally Accepted Practice as it applies from 1 January 2015.
The accounts have been prepared on the going concern basis, as there are no material uncertainties about the charity’s ability to continue. Based on the adequacy of the charity’s reserves as at the balance sheet date, along with their knowledge of the charity’s ability to meet bills, payments and other liabilities as they fall due, the trustees have a reasonable expectation that the charity has sufficient resources to continue in operational existence for the foreseeable future
b) The Statement of Financial Activities (SOFA) classifies SBC's income and expenditure according to type of fund. The types of fund in use at SBC are:
Unrestricted funds - SBC's General Fund is an unrestricted fund in that it is available to be used for any SBC purpose and is used for normal operating income and expenditure
Designated funds - these are funds which have been set aside for specific purposes, but they are not subject to any restriction and could in theory be 'undesignated' again.
Restricted Funds - these funds must be used only for the purposes for which they have been given.
c) Income - all voluntary incoming donations and income from church activities are accounted for as received. Tax recoverable under Gift Aid is accounted for in the period in which the underlying gift was received. Interest receivable is accounted for in the period to which it relates. Legacies are accounted for in the period when they become certain and quantifiable.
d) Expenditure - expenditure including irrecoverable VAT is recognised when incurred by the charity, regardless of when payment is made. Grants payable are taken into account at the earlier of when they are paid or become constructive obligations.
e) Two funds have not been included in the SOFA or Balance Sheet and further details of these funds are given in note 8b.
f) SBC's land and buildings are owned on its behalf by London Baptist Property Board as custodian trustee. The trustees carry out an annual impairment review on all properties and as a result, and in accordance with FRS 102 SORP, no depreciation is charged.
Residential properties acquired before 1999 are recorded in the accounts at open market value as estimated by the trustees in February 1999; under the provisions of Financial Reporting Standard (FRS) 15, these values are treated as if they were historical costs and the trustees do not intend to carry out further revaluations. A residential property acquired since February 1999 is recorded at cost.
g) Expenditure greater than £5,000 on furniture and equipment is depreciated over its useful life.
Furniture 10 years Equipment 4 years
h) No value has been attributed to the considerable time spent by volunteers in administering SBC and in running a wide range of Church activities.
i) The church is an employer participating in a pension scheme known as the Baptist Union Pension Scheme of which the minister is a member. The Scheme is a separate legal entity and is administered by the Pension Trustee (Baptist Trust Limited). The church also pays pension contributions to the personal pension plans of its other staff.
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2 Donations & Legacies
| Donations & Legacies | |
|---|---|
| Offerings Tax Refunds Legacies |
Unrestricted General Fund Designated Funds Restricted Funds 2023 Total 2022 Total £ £ £ £ £ 171,617 38,803 1,454 211,874 166,587 40,784 7,262 - 48,046 39,108 - 50,000 -50,000 - |
| 212,401 96,065 1,454 309,920 205,695 |
3 Expenditure on Charitable Activities
| Personnel (note 10) Church activities (note 4) Mission – donations (note 5) Support costs Premises costs (note 6) Office costs Independent examination Raising Funds Premises costs (note 6) Office costs |
Unrestricted General Fund Designated Funds Restricted Funds 2023 Total 2022 Total £ £ £ £ 77,980 - - 77,980 124,437 13,813 - - 13,813 16,978 35,632 - 1,934 37,566 37,689 38,172 25,194 - 63,366 65,715 7,635 - - 7,635 6,827 600 - - 600 600 1,506 - - 1,506 1,546 402 - - 402 359 |
|---|---|
| 175,740 25,194 1,934 202,868 254,151 |
Support costs are apportioned on estimated usage of the premises and office
The independent examination fee of £500 plus VAT was payable to Ryefields
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4 Church activities
| Church activities | |
|---|---|
| Incoming Resources Youth activities Holiday at Home Adventure Tots Other events Resources expended Preaching fees Sunday Club Sundry materials for services Youth and children's activities Adventure Tots Other events and study series Holiday at Home Catering Fees & Subs Music, sound, video Training Depreciation on AV Equipment |
Unrestricted General Fund Designated Funds Restricted Funds 2023 Total 2022 Total £ £ £ £ £ 141 - - 141 4,137 948 - - 948 340 1,688 - - 1,688 454 41 - 640 681 759 |
| 2,818 - 640 3,458 5,700 |
|
| 761 - - 761 189 154 - - 154 581 327 - - 327 604 1,720 - - 1,720 5,150 341 - - 341 - 799 - - 799 2,553 711 - - 711 406 757 - - 757 241 1,383 - - 1,383 2,222 2,678 - - 2,678 1,468 810 - - 810 192 3,372 - - 3,372 3,372 |
|
| 13,813 - - 13,813 16,978 |
5 Donations made to mission
a) Global Action Team
| Baptist Missionary Society International Needs South Asian Concern Embrace Open Doors Feba LBA Jamaica Interserve Bible society Other (paid to individuls) ) Home and Local Mission Home Mission Contact : Selsdon Churches Neighbourhood Care Spurgeon's College Grants to local organisations Fellowship Fund |
Unrestricted General Fund Designa ted Funds Restricted Funds 2023 Total 2022 Total £ £ £ £ £ 9,500 - - 9,500 9,500 1,000 - - 1,000 - 5,300 - - 5,300 5,300 - - - - 1,000 435 - - 435 1,000 500 - - 500 500 500 - - 500 500 1,000 - - 1,000 1,000 645 - - 645 - 420 - - 420 430 19,300 - - 19,300 19,230 9,500 - - 9,500 9,400 2,000 - - 2,000 2,000 1,000 - - 1,000 750 3,032 - - 3,032 2,600 800 - - 800 - 16,332 - - 16,332 14,850 |
Unrestricted General Fund Designa ted Funds Restricted Funds 2023 Total 2022 Total £ £ £ £ £ 9,500 - - 9,500 9,500 1,000 - - 1,000 - 5,300 - - 5,300 5,300 - - - - 1,000 435 - - 435 1,000 500 - - 500 500 500 - - 500 500 1,000 - - 1,000 1,000 645 - - 645 - 420 - - 420 430 19,300 - - 19,300 19,230 9,500 - - 9,500 9,400 2,000 - - 2,000 2,000 1,000 - - 1,000 750 3,032 - - 3,032 2,600 800 - - 800 - 16,332 - - 16,332 14,850 |
|---|---|---|
| 16,332 - - 16,332 14,850 |
b) Home and Local Mission
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c) Gifts & Offerings for specified purposes
| International Needs Operation Agri YFC Lebanon Tear Fund Embrace Others TOTAL Mission |
Unrestricted General Fund Designated Funds Restricted Funds 2023 Total 2022 Total £ £ £ £ £ - - 894 894 480 - - - - 512 - - - - 942 - - 430 430 - - 310 310 - - - 300 300 1,675 |
|---|---|
| - - 1,934 1,934 3,609 |
|
| 35,632 - 1,934 37,566 37,689 |
The £300 paid to “others” was paid to individuals
d) Donations - Connected Persons & Organisations
The following SBC members, being current officers or officers of SBC in the previous 5 years are connected with organisations to which SBC has made grants in the normal course of giving. They have played no part in the process of awarding these grants.
Paul East who retired as a Trustee on 31 December 2022 is supported by South Asian Concern for his missionary work in India, the UK and wherever God opens up a door of opportunity.
6 Premises Costs
| Listed by property Church & Halls Brent Road Addington Road Goldfinch Road |
Premises Maintenance General Designated Restricted 2023 2022 £ £ £ £ £ 30,116 4,178 - 34,294 56,543 3,913 2,559 - 6,472 4,051 3,026 18,289 - 21,315 2,919 2,623 168 - 2,791 3,748 |
|---|---|
| 39,678 25,194 - 64,872 67,261 |
7 Fixed Assets
a) Freehold Properties
| Cost Balance at 1 March 2022 Balance as at 28 February 2023 Sums insured at 28 February 2023 |
Church & Halls Brent Addington Road Goldfinch Road Total £ £ £ £ £ 631,195 180,000 145,779 254,901 1,211,875 |
|---|---|
| 631,195 180,000 145,779 254,901 1,211,875 |
|
| 2,972,309 465,868 434,098 250,000 4,122,275 |
The original church building was purchased in 1952 and a major extension was added in 1999 the total cost being £631,195. It is believed that the property may only be used as a Free Church and the trustees are of the opinion that the building should be included in the accounts at cost.
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b) Equipment
| ) Equipment | |
|---|---|
| Cost 1 March 2022 Additions 28 February 2023 Depreciation 1 March 2022 Charge for year 28 February 2023 Net Book Value At 1 March 2022 As at 28 February 2023 |
Equipment £ 45,387 - |
| 45,387 32,619 3,373 |
|
| 35,991 | |
| 12,768 | |
| 9,396 |
8 Statement of Funds
a) This statement is to show movements on each individual fund within the fund classifications shown in the SOFA:
| Unrestricted Funds General Fund Designated Funds Legacies Fund Premises Improvement Fund Premises Maintenance Fund Adventure Tots Church Manses Total Designated Funds Restricted Funds Restricted Donations Fund Community & Special Fund Church and Hall Fund Total Restricted Funds Total All Funds |
Pension Balance 01-Mar-22 Incoming resources Resources expended Adjustment & Transfers Balance 28-Feb-23 148,113 242,701 (175,740) 18,651 233,725 |
|---|---|
| 3,766 50,000 (167) - 53,599 - 45,665 - - 45,665 33,533 400 (25,027) 15,000 23,906 812 - - 503 1,315 580,688 - - - 580,688 |
|
| 618,799 96,065 (25,194) 15,503 705,173 |
|
| 324 2,094 (1,934) - 484 3,083 - - - 3,083 631,195 - - - 631,195 |
|
| 634,602 2,094 (1,934) - 634,762 |
|
| 7,251.0 1,188.0 1,401,514 340,860 (202,868) 34,154 1,573,660 |
Restricted Donations Fund represents donations received for specific purposes
Community & Special Fund represents a donation received for community work and activities within the church.
The Church and Hall fund represents the church buildings (Fixed Assets note 7)
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c) The assets and liabilities represented by the various funds are as follows:
| Church Buildings Manses Equipment Amounts due to SBC Amounts owed by SBC Deposit accounts Bank and Cash |
Unrestricted General Fund Designated Restricted Funds Endowment Funds 2023 Total £ £ £ £ £ - - - 631,195 631,195 - 580,680 - - 580,680 9,396 - - - 9,396 25,203 - - - 25,203 (12,114) - - - (12,114) 200,081 124,263 2,826 - 327,170 11,159 230 741 - 12,130 |
|---|---|
| 233,725 705,173 3,567 631,195 1,573,660 |
9 Bank and Cash Balances
| CAF Gold Deposit with LBPB Deposit with Baptist Union Bank current accounts Cash in Hand |
2023 2022 £ £ 103,279 91 121,011 119,424 102,881 51,250 12,085 21,493 44 30 |
|---|---|
| 339,300 192,288 |
10 Trustees, Staff Costs & Expenses
| Stipends & Salaries Social Security costs Pension Costs Pension Deficit contribution Other costs Number of full time equivalent staff The number of employees with emoluments exceeding £60,000 |
2023 2022 £ £ 66,280 102,779 1,105 4,593 6,343 9,212 1,880 4,441 2,372 3,412 |
|---|---|
| 77,980 124,437 |
|
| 2023 2022 2.7 3.8 - - |
Included in the stipends and salaries and as allowed in the church constitution are the following payments to trustees
| ayments to trustees | ||||
|---|---|---|---|---|
| 2023 | 2022 | |||
| Name | Stipend | Pension | Stipend | Pension |
| Contribution | Contribution | |||
| £ | £ | £ | £ | |
| Senior Minister - Revd T Neill | 33,807 | 4,040 | 33,129 | 3,944 |
| Associate Minister - Revd D Larbi | 12,515 | 1,404 | 26,995 | 3,331 |
The total remuneration (including employers pension contribution) payable to key management personnel as defined by the Charity SORP was £54,922 (2022 £93,835)
Expenses reimbursed relating to church activities to the Senior Minister amounted to £1,330 (2022 £1,442)
No other trustee received any remuneration or reimbursement for expenses (2022 £nil)
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11 Pensions
a) Baptist Union Pension Scheme (BPS)
The Church is an employer participating in a pension scheme known as the Baptist Pension Scheme (“the Scheme”).
The Scheme is a separate legal entity which is administered by the Pension Trustee (Baptist Pension Trust Limited), the assets of the Scheme are held separately from those of the Employer and the other participating employers.
For any month each participating employer in the Scheme pays contributions as set out in the Schedule of Contribution in force at that time.
The Scheme is considered to be a multi-employer scheme as described in Section 28 of FRS 102. This is because it is not possible to attribute the Scheme’s assets and liabilities to specific employers and means that contributions are accounted for as if the Scheme were a defined contribution scheme. The pensions costs charged to the SOFA in the year are contributions payable towards benefits and expenses accrued in that year, plus any impact of deficiency contributions (see below).
The Ministers are eligible to join the Scheme.
From January 2012, pension provision is being made through the Defined Contribution (DC) Plan within the Scheme. In general, members pay 8% of their Pensionable Income and employers pay 6% of members’ Pensionable Income into individual pension accounts, which are operated and managed on behalf of the Pension Trustee by Legal and General Life Assurance Society Limited. In addition, the employer pays a further 4% of Pensionable Income to cover Death in Service Benefits, administration costs, and an associated insurance policy which provides income protection for Scheme members in the event that they are unable to work due to long-term incapacity. This income protection policy has been insured by the Baptist Union of Great Britain with Aviva plc. The further 4% contribution rate is reduced to 3% for Employer contributions made to the Segregated DC Arrangement.
Benefits in respect of service prior to 1 January 2012 are provided through the Defined Benefit (DB) Plan within the Scheme. The main benefits for pre-2012 service were a defined benefit pension of one eightieth of Final Minimum Pensionable Income for each year of Pensionable Service, together with additional pension in respect of premiums paid on Pensionable Income in excess of Minimum Pensionable Income. The Scheme, previously known as the Baptist Ministers’ Pension Fund, started in 1925, but was closed to future accrual of defined benefits on 31 December 2011.
A formal valuation of the Defined Benefit (DB) Plan was performed at 31 December 2019 by a professionally qualified Actuary using the Projected Unit Method. The market value of the DB Plan assets at the valuation date was £298 million.
Actuarial valuation as at 31 December 2019
The valuation of the DB Plan revealed a deficit of assets compared with the value of liabilities of £18 million (equivalent to a past service funding level of 94%). The Church and the other employers supporting the DB Plan are collectively responsible for funding this deficit The church paid deficit contributions of £1,880 (2022 £4,441) during the year.
:
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| Reconcilliation of Pension Liability | Reconcilliation of Pension Liability | |||
|---|---|---|---|---|
| Year Ending 28-Feb-23 28-Feb-22 |
||||
| Balance sheet liabilityatyear start | 33,247 49,508 907 858 |
|||
| Interest cost(recognised in SoFA) | ||||
| Actuarial (gains)/losses on re-measurement of liability (recognised in SoFA) (34,154) (17,119) |
||||
| Balance sheet liabilityatyear end - 33,247 |
||||
| Table of Assumptions for calculating the liability | ||||
| Accounting date 28-Feb-23 28-Feb-22 |
28-Feb-21 | |||
| Discount rate 5.6% 2.8% 1.8% Future increases to Minimum Pensionable Income 0.0% 4.7% 3.2% |
||||
| Future increases to Minimum Pensionable Income | 0.0% | 4.7% |
The next actuarial valuation of the DB Plan within the Scheme is due to take place not later than 31 December 2023.
Recovery Plan
In addition to the contributions to the DC Plan set out above, where a valuation of the DB Plan reveals a deficit the Trustee and the Council agree to a rate of deficiency contributions from churches and other employers involved in the DB Plan.
Under the current Recovery Plan dated 30 September 2022, deficiency contributions are payable until 30 June 2026. These contributions are broadly based on the employer's membership at 31 December 2014 and increase annually in line with increases to Minimum Pensionable Income as defined in the Rules. However, the Trustee and the Council agreed a 50% reduction for all deficiency contributions payable between 1 July 2020 and 31 December 2020.
As there is a large number of contributing employers participating in the Scheme, the Church is unable to identify its share of the underlying assets and liabilities of the scheme. Accordingly, due to the nature of the Scheme, the profit and loss charge for the period represents the employer contributions payable.
The Church has agreed to a deficit funding arrangement so the Church must recognise a liability for this obligation. The amount recognised is the net present value of the deficit reduction contributions payable under the agreement that relates to the deficit. The present value is calculated using the discount rate detailed in these disclosures
b) Defined contribution pension scheme
The church paid £899 (2022 £1,937) to defined contribution pension schemes for three members
c) Post Balance Sheet Event – Defined Benefot Pension Scheme
The pension scheme trustees have signed an agreement with the insurance company Just Group (“Just”) to secure DB Plan members’ pension benefits. This agreement is referred to as a ‘buy-in policy’. It follows a similar agreement with Just in 2019 that covered most pensions in payment at that time. The combined agreements mean that Just are now providing financial backing for all DB pensions provided through the Scheme’s DB Plan. Deficit Recovery Contributions (DRCs) The costs of such policies are largely driven by financial markets and these have moved substantially in the Scheme’s favour, particularly over the course of the last few months. As a result, this transaction takes the Scheme out of a shortfall position for the first time in two decades. Although risks remain, the Baptist Union and the Trustee have agreed that deficit recovery contributions from each participating employer in the DB Plan will reduce to just £1 per month from August 2023.
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Selsdon Baptist Church
Detailed Statement of Financial Activities for the year ended 28 February
2023 with 2022 funds comparatives
| Income from: Donations & Legacies Charitable Activities Trading activities Bank Interest Total income Expenditure on: Raising funds Charitable activities Total Expenditure Actuarial gains (losses) on defined benefit pension schemes Net Income/(Expenditure) Transfer between funds Net movement in funds Fund balances brought forward Fund balances carried forward |
General 2023 £ General 2022 £ Designated 2023 £ Designated 2022 £ Restricted 2023 £ Restricted 2022 £ Total 2023 £ Total 2022 £ 212,401 201,516 96,065 - 1,454 4,179 309,920 205,695 2,818 5,155 - - 640 545 3,458 5,700 24,057 14,887 - - - - 24,057 14,884 3,425 430 - - - - 3,425 430 |
|---|---|
| 242,701 221,987 96,065 - 2,094 4,724 340,860 226,709 |
|
| 1,908 1,905 - - - - 1,908 1,905 173,832 222,738 25,194 25,898 1,934 3,609 200,960 252,246 |
|
| 175,740 224,738 25,194 25,898 1,934 3,609 202,868 254,151 |
|
| 34,154 17,119 - - - - 34,154 17,119 |
|
| 101,115 14,461 70,871 (25,898) 1,934 1,115 172,146 (10,323) (15,503) (13,927) 15,503 21,844 - (7,917) - - |
|
| 85,612 534 86,374 (4,055) 160 (6,802) 172,146 (10,323) |
|
| 148,113 147,579 618,799 622,854 634,602 641,404 1,401,514 1,411,837 |
|
| 233,725 148,113 705,173 618,799 634,762 634,602 1,573,660 1,401,514 |
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