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2020-12-31-accounts

CIRENCESTER T BAPTIST CHURCH

Trustees’ Annual Report & Accounts for the Year Ended 31st December 2020

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Contents

Page
Trustees Report 1-11
Independent Auditor's Report 12-14
_
Statement of Financial Activities 15-17
Accounting Policies 18 - 21
Notestotheaccounts 22-27

Cirencester Baptist Church Annual Report Ist January 2019 to 315* December 2020

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Statutory Information

Name of Charity: Cirencester Baptist Church (Sometimes shortened to CBC)

Registered Charity Number: 1127222

Registered Address: Chesterton Lane Cirencester Gloucestershire GL7 1YE

Trustees Mr Matthew Frost (Senior Pastor) Mr Philip Trainer (Assistant Pastor) Mrs Naomi Shrubsole (Youth and Children’s Pastor) Mr Peter Marrow (Secretary) Mrs Caroline McKemey (Treasurer) Mrs Clare Baker Mr Steve Chandanam Mr Derek Coldrick (resigned May 2020) Mr Dorian Ferdinando (resigned March 2020) Mr Granville Gray Mr Colin Lawford Dr Michael McKemey Mr Martin Rigley Mr Michael Sharp (resigned September 2020) Mrs Cate Oxenham Mr Paul Willmott

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Property Trustees

The Baptist Union Corporation Limited, Registered Charity No. 249635 Baptist House 129 Broadway Didcot, Oxfordshire OX11 8RT

Other Officers Administrator Mrs Pat Lee Pastoral Worker Miss Ann-Rachel Harwood Friday Under Fives Worker Mrs Stephanie Kingsley Facillties Manager Mr Steven Chandanam Worship Pastor Mrs Robyn Trainer

Bankers Auditor Lloyds TSB Bank ple MHA Monchans 14 Castle Street 38-42 Newport Street Cirencester, Glos Swindon, Wilts GL7 1Q$3 SN1 3DR

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Annual Report for 2020

The Trustees present their report and the audited financial statements of the charity for the year ended 31 December 2020. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) “Accounting and Reporting by Charities” in preparing the annual report and financial statements of the charity. The financial statements have been prepared in accordance with the accounting policies set out in notes to the accounts and comply with the charity’s governing document, the Charities Act 2011 and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland published in October 2019:

(a) Objectives and Activities

The Charity is governed by an Approved Governing Document (Constitution), adopted at a Special Church Members’ Meeting on the 9th September 2008. This states that the principal purpose of the charity is the advancement of the Christian faith according to the principles of the Baptist denomination. The Church may also advance education and carry out other charitable purposes in the United Kingdom and other parts of the world. The Church occupies premises that are held by the Baptist Union Corporation Ltd, on Trusts which are entirely compatible with the above objectives.

In order to achieve the charitable objectives which are set out above, the Church provides a variety of activities both to its Membership and to the community generally. The Trustees of the Church have considered and have regard to the Charity Commission guidance on public benefit.

To undertake activities as a means of achieving the Charitable Objectives, the church works on its own, or with other churches or groups. The aim is to show the love of Jesus Christ in both word and deed; to bring people into a closer relationship with Him as living Lord; to support and encourage charitable social action; and to encourage relationships with other Christians.

Inevitably all the activities of CBC were altered by the coronavirus pandemic and the restrictions imposed on life in the UK. From the middle of March 2020 so much of the life, community, outreach and worship of the church changed. Most significantly, so many of our activities and groups moved online. So much of 2020 falls into the periods of the UK ‘lockdown’.

Central to the work and witness of the church is the provision of regular public services of Christian worship. These services take place twice on each Sunday morning and again each Sunday evening. There are also occasional services at other times which are advertised within the church and its website at www.cirencester-baptist.org. Services of a special nature are advertised more widely in

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Cirencester. There is a full programme for children and young people during the 10.30am service on Sundays. A monthly All Age Worship service provides a choice of involvement and activity for all ages. Each of the Sunday services has its own style to suit the differing preferences of the church and community. The church seeks to be a friendly and welcoming community, and anybody is free to attend any of these services.

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These services shifted online in March and continued to do so
ror the rest of the year. This was an enormous effort from a ONLINEchurch
eam of volunteers and the staff. It has been very successful, NGS & prayer Oo
with very large numbers of people ‘attending’ these services tte 30pm
- including many who are new to CBC. These services have a =
been broadcast live on Sunday mornings via live.church and 4 i a
then afterwards on YouTube and Facebook. The evening a o
services returned ‘in-person’ for a few months towards the 3 . J “
end of the year, albeit with restrictions. CIRENCESTER
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The church runs a series of house groups for friendship, the growth of faith, pastoral care and relationship with the local community. By the end of 2020 there were 21 such groups, comprising some 290 people meeting in various homes throughout the catchment area of the church, namely Cirencester and surrounding villages & towns. The Bible study element of these groups follows the Sunday service teaching. All who consider themselves part of the church are encouraged to integrate into the life of a house group. Details of these groups are advertised in the church news sheet. All of these groups continued to meet after lockdown started. Most of them have met via ‘Zoom’ and have coped well without meeting in person. A lot of effort has been put in by the house group leaders in keeping in touch with people.

The Church is privileged to have contact with many children and young people. We had two trainee youth ministers based with us whilst studying at Moorlands Bible College. One moved to take up a full time post at another church in July and a second student decided to take a year out from September this year. Our trainee children’s pastor has worked very hard this year, and the church is in the process of seeking to appoint her as a part time member of staff. Youth and Children on Sunday mornings are mainly from families who worship with us regularly, and on average about 125 attend each week. We have an established monthly music-based worship event called ‘Revive’ which is designed to appeal to young people in the church and community. This is in addition to the 3 midweek youth house groups that regularly attract 30 young people each week.

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The youth & children’s pastor and
her team became very creative in ee. ; AA wea
finding ways to connect with © ee ee s ze Da
children and young people during Goety iT?
lockdown. Lots of online house i ; bt | Bi =. = &
groups, emails, messaging, mS ~: Oe oa . ays | i
socially distanced activities (3 MY ; Se Oesepy ye’ fif= | ay
Christmas parties), children’s — = ea fa
groups online, online games, ee ee
videos and so much more. We aie a ee— a 2
also started a monthly youth
evangelism course in September and managed to have 3 in person meetings.
Our weekly Friday-Under-Fives’ parent & toddler group continues to run two weekly sessions giving
encouragement and support to over 260 pre-school families. The church employs someone for eight
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hours a week to help run this successful activity. Again, yo =<
this shifted entirely online from March. The team put piek uP f BAagl i/ \/ ( / \ \ 4s
out songs, stories and activities via Facebook every + BN & Ab \7 lo
Friday, and later in the year they offered some TS) LL J SS sll Bece
activities in the church car park. The restrictions Come and collect your own ’
allowed . (free!) bag of toddler-fun
[they] [were] [able] [to] [hold] [a] [mother] [and] between 9-10.30am V0") Ve
and [December] support groups to meet so during November Tle FRIDAY Gt ¢
new baby support group which was very much “gee You TueRel .
appreciated by those who attended. Many of our S
families responded to having a member of the team _
deliver a Christmas gift, delivered to 85 children.
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‘Messy Church’ provides ‘alternative’ church for families who are less keen on the formality of Sunday worship or as an introduction or outreach to bring friends and extended family to. Its style is relaxed and activity based and appreciated by those who attend. We had two socially distanced pod Light parties this year with 32 families, 10 of these families were from FuFs, Eat Lunch or were invited by friends. We then gave out 99 Light Party bags to those that came and delivered to other families. At Christmas we had a mini messy crafty Christmas and were fully booked with 20 families and 37 children). Many more families from FuFs and Eat Lunch are now attending these events.

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——— a Also, the two mid-week youth club events that cater for
oS 7 ee Se omar boys and girls aged 10-16, are attended by about 120
2. ey a 58 pea dee ope young people who generally have no other church
\ aa PRES ae & ‘2 2 connection, except for the regular school assembly and
ttsae © riede - Veer,S528 Re?AVereMae Biblelongerstudy meet,input the teamby the soughtchurch. to keepOnce youthin touchclub withcould youngno
Cai es ewe people through messages, Instagram and prayer walks
eager OS ae around town. We did manage two socially distanced
i ia “i a cA Bs meet ups with some of the older young people outside
’ YouthePaeye ae tees ee § the church building. We also provided “It’s your move”
| ae See eee books to Year 6’s transitioning to Secondary school and
conducted 8 interactive sessions at the local schools to aid transition, either
via zoom, MSM teams, in the classrooms or outside. Members of CBC lead school assemblies and
activities in all the primary and secondary schools in the area, sometimes in partnership with other
groups such as Open the Book and Gideons International. We run a weekly Christian Assembly at
Deer Park school that young people can choose to attend, with up to 50 young people attending.
During this time we have continued to provide assemblies via You Tube or over MSM Teams.
Unfortunately, we haven’t been able to continue with the Deer Park Assembly since mid March.
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3 Interns joined the team this year, who were part of the Invest programme in partnership with other Baptist churches in the West of England.

Following a long process the church has begun looking for a part time youth pastor to work with our youth & children’s pastor.

There are a large number of other church activities which provide a means of friendship, encouragement, practical support and growth in Christian faith to all in the church. These cater for different ages, genders and interests, and contribute to the ethos and life of the church. They are a means of encouraging new people to come among us and benefit from what we provide. Numerous special events and regular activities took place during the year to provide opportunities for deepening friendships.

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Our regular groups and meetings include monthly curry club, bes Seay el ee
banner making group, craft group called Creative Hands and ae \ ay i] -|
Hearts, Food for Thought (monthly lunch club for those around wl “gam | lb : Dn
during the day), Friends Café (monthly support group for : \ , ae \" ‘
widow(er)s), monthly prayer breakfast, monthly prayer and te ne pie
worship evening, weekly prayer meeting, and the CBSingles e p 4 re
group. The Time Out Café is open weekly on Monday mornings ws ‘nanan aot
for coffee, cake and a chat. All of these groups had to stop in i me Coe \
March. Some of them were able to move online — the prayer org oa wag yay
meetings have grown in size as a result of this. SIRE, es
Online quizzes became a feature of church life during 2020. epee Repay os. at 2
The church is involved in numerous community activities, some is : Wiens ‘ ‘4 & “J ey is
Christian and some secular. Regular activities include Cirencester Bi : re -s CRS 3,
Pilgrims (football team), ‘Eat Lunch’ (a school holiday initiative Sy Be ee
offering a warm welcome, games, crafts and a free hot healthy lunch to families who may need
some extra support during the holidays), Christians Against Poverty (CAP) money coaches who run
courses to empower people in the church and community to manage their money well and avoid
debt, the chaplaincy team at Cirencester Hospital, and our senior pastor is a chaplain at the Royal
Agricultural University. Ministry at the hospital and RAU has continued but has been reduced by the
pandemic.
Twice monthly games evening called Around the Table continued online and towards the end of the
year gathered lots of new members. Monthly Sunday Night Live events described as “entertainment
with a twist of faith” started meeting in a local cafe bar and monthly UnSmashed events in a local
club, aimed at younger people — these were going well, but have stopped since March.
The lockdown provided opportunities for people to be creative in how to connect with our community.
Open air services were conducted in one street in Cirencester 8 times during 2020. Carol services in
their street were organised by church members. Lots of walks, open air gatherings, street outreach
have happened to continue with community and outreach, despite the restrictions.
The senior pastor wrote a daily reflection on each of the k
150 psalms from the beginning of the pandemic. 100s of ON ¥ sf N It
people read or listened to this. He then launched along \ ) \ Uh sf : |
with 2 others a podcast called “Two Pastors in a Pub” that 4 \ r + sig ly 2
has a growing audience. A TN2 “ Yop
Li . S. ZZ
Several members of the Church are involved with i) niki a0 V7 hy
irencester Home-Start, which provides support for RY Pe ® APPA
parents of young children in the community. The Church Wy Tit oe ee @
continues to assist with the Churn Neighbourhood Project, 150 Psalms Blog
which provides support in the community. The Cirencester, Fairford and
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Twice monthly games evening called Around the Table continued online and towards the end of the year gathered lots of new members. Monthly Sunday Night Live events described as “entertainment with a twist of faith” started meeting in a local cafe bar and monthly UnSmashed events in a local club, aimed at younger people — these were going well, but have stopped since March.

The lockdown provided opportunities for people to be creative in how to connect with our community. Open air services were conducted in one street in Cirencester 8 times during 2020. Carol services in their street were organised by church members. Lots of walks, open air gatherings, street outreach have happened to continue with community and outreach, despite the restrictions.

Tetbury Foodbank has its warehouse in the basement of our church building. The Foodbank became much busier in 2020 as a result of the pandemic. They made more use of the church building to coordinate home deliveries. In addition, many individual Church Members have responsibilities and involvement in a whole range of community activities. Examples are the frequent ‘Open the Book’ Bible drama presentations in primary schools within Cirencester and surrounding villages, taking services in local retirement homes and the Street Pastors scheme in Cirencester.

Cirencester Community Church took the decision to cease meeting separately during 2020, and to join CBC. Most of the small church (around 10 people) have asked for church membership.

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Re was : — | We work closely with the other churches in
e ry RA BO BY Cirencester. A long running joint involvement has
T Al he li |= been with the Alpha course, which seeks to help those
ry p 1c OoOniine. | = Biweec explore the Christian Faith. 2 courses ran
Explorelife,faithiand God ~ " = in 2020, one in-person and one online.
Infroductory Night Wednesdays Fe gamed During 2020, CBC took part in online Good Friday &
27'» January 7.30pm via Zoom Pentecost services, and the Plough Service and
ee Pore im Holocaust Memorial Day.
ect }~=©ONLINEchurch
Our concern is not only for people in the church and
the local community, but further afield too. We partner church members (and former church members)
working as missionaries in Japan, Germany with Teach Beyond and South East Asia with Interserve.
In each case, they continue to be supported through mission agencies as we consider that provides
them with a more secure support base. We also support
missionaries in Bangladesh through the Baptist Missionary Society
World Mission. i ie ai e siced
The relationship with pastor Daniel and his churches in Romania is eae ae =) ee
growing. Three members of the church, including the senior pastor, |
visited in February, and Daniel and his wife Claudia visited ; Yty =2h’ we a <i)\4
Cirencester in March.
; ‘| ae
Again, CBC collected shoeboxes for Operation Christmas Child and Bay ye F, . aS
decorated and filled over 216 boxes with presents. _ Fe A Saat
The use of our new church building has grown extensively inearly wes 2 fe | orang
2020. However, after March the use greatly decreased with only the NHS
blood service, the Foodbank and a few smaller groups using the building.
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The Church expresses its part in the wider Christian community by making grants to national and international Christian organizations and societies with aims and objectives compatible with the church’s own charitable purpose.

The trustees have paid due regard to the Charity Commission's guidance on public benefit in deciding what activities the charity should undertake. The trustees consider that they have acted in the public benefit

(b) Achievements and Performance

The Church does not only measure the success of its programs in numbers, including financial numbers, but also in less tangible areas like fellowship, support and encouragement. The Trustees recognise that these are difficult to measure but believe that 2020 was a positive but uniquely challenging year in the life of the church, and that we will be able to pursue our mission purposes in 2021 with faith and enthusiasm.

Four people were baptised following a profession of faith in Jesus Christ. We were pleased to welcome 19 new people into church membership. 6 of our members joined our Friends List or resigned from membership; 2 of our members died during the year. On 31st December 2020 the membership stood at 305, which was a net increase of 11 over the year. We were delighted that 8 babies were born to families in the church and one couple from the church was married at CBC in 2020.

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The congregation at CBC has continued to grow in numbers during 2020. However, because of the online nature of so much of the church’s activities it will take time to integrate new people into the

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family of the church. This is welcome and is hopefully also allied to a growth in community, spirituality and service.

Towards the end of 2020 those who volunteer within the life of the church numbered at least 250 (and this says nothing of those who are also serving elsewhere in their local communities). This is a measure of the activities and enthusiasm of the congregation. Once again, because of the pandemic, so many of the volunteers were unable to serve as they had before — but most appear keen to step back in when things start again.

By the end of 2020 the weekly Sunday services were being regularly attended by over 400 people. Although with so much online, this is much harder to measure than in previous years.

The house groups in the church play an important part in the life of the church. The church leadership has invested in training and encouraging the leaders of these groups who become increasingly important in the pastoral ministry of CBC. Leaders of pastoral ministries meet regularly, as a pastoral forum, to ensure we are serving and caring for everyone in the church. The mainstays of our pastoral care continue to be house groups and personal relationships.

We have continued to support Gloucester Outdoor Church, Kings Stanley Baptist Church and Arlington Baptist Church in Bibury (a small village 7 miles from Cirencester), helping the congregation with practical matters and finding a way forward for the church and its mission. Arlington church has connected with online church services — using it to help with their worship. CBC has also helped them with training in safeguarding.

(c) Financial Review

The church continues to raise funds that it needs to carry on its activities from within its own congregation. We have been able, through the generosity of many in the church, to continue to pay the loans on the new building from the Baptist Building Fund and the Baptist Union Corporation.

The church is heavily dependent on its congregation working voluntarily in all aspects of our activities, many of which run with little or no impact on our expenditure; but nevertheless, contribute substantially to the achievement of our objectives.

The financial results for the year, together with a summary of the accounting policies adopted are set out in the accompanying financial statements. Our total income was £610,561, £360,799 to the general fund, £151,704 to the restricted fund and £98,058 to the endowment fund. Our total expenditure was £429,805. This is made up as follows, £311,033 from the general fund and £56,960 from the restricted and £61,812 from endowment funds. We ended the year with a surplus of £180,756, £98,058 of the surplus relates to the profit on disposal of Sudeley Drive.

Total funds held at 31 December 2020 were £2,781,645 of which £3,491,107 are held at fixed assets.

Reserves of £124,049 were held in the general fund; £43,553 in restricted funds; £2,590,974 in the endowment fund, £33,811 in the unrestricted fixed asset fund, £15,000 in the designated building maintenance fund and -£25,743 pension liability reserve.

Our reserves policy states that there should be reserves of three months of normal church General Fund expenditure which is £102,000. Our reserves at the end of the year now stand at £98,304 which is slightly below the required level. We note that the Church has net current liabilities of

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£6,236 and we seek to continue to generate funds. The key financial risk is generating sufficient funds to repay the long-term loans.

The principle funding sources are donations and offerings from the congregation.

Significant expenses include the employment of 2 full-time ministers; a part-time youth minister, Pastoral Worker, Worship Pastor, Friday-Under-Fives Worker, Administrator and Facilities Manager; to lead and co-ordinate the church’s activities. These activities include Sunday services, pastoral care for the congregation and other people. They also encourage the congregation in its life, Christian witness and service. They also include the running and upkeep of our building.

A further significant expense is the support of both overseas and UK mission and outreach. The Church expresses its part in the wider Christian community by making grants to national and international Christian organizations and societies with aims and objectives compatible with the church’s own charitable purpose.

As with many areas of society the Coronavirus pandemic had a big impact on our church. We have been following government recommendations and regulations and have:

The major risks to which the church is exposed have been identified by the Trustees as follows, and systems have been established to manage these risks:

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Governance risks — Constitution adopted 09/12/08 outlining procedures for membership; members’
meetings; appointment, role, responsibility and removal of
||! a Ae)aaa ==Bee | OM ‘+» wiss, charityOperationaltrustees.risks - On-going staff and volunteer training;
~ =" oe @ \ “yee Safeguarding policy and procedures in place (Baptist Union
x , | ‘Safe to Grow’); Disclosure & Barring Service (DBS) checks of
. i all staff and volunteers working with young people and
~ Yesyn Ee vulnerableRegister in placeadults;(reviewedHealth, Safety,& updatedFire andin 2019);IT policiesFirstandAid Risk
rN 2 ~ Courses; Adherence to Baptist Union guidelines and consultation
i y 4 5 “3 swith BU advisors on wide range of issues.
a \ a | Financial risks — Financial Procedures Policy in place and
= | » reviewed regularly.
Elders’ Retreat i ae oe y External risks — Regular updates and advice on government
aE em policy received from Baptist Union, Evangelical Alliance and
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Charity Commission.

Compliance with law and regulations - Employer, public and charity trustee indemnity insurance in place and reviewed annually.

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(d) Structure, Governance and Management

The Charity is governed by an Approved Governing Document (Constitution), adopted at a Special Church Members’ Meeting on the 9th September 2008.

Those seeking Church membership are accepted into membership in accordance with the Approved Governing Document (Constitution). Church Members’ Meetings are held on at least 4 occasions in the year. In 2020 we held two in person meetings at the beginning of the year and two meetings via zoom later in the year. At these meetings, the Members seek to discern the mind of God for the overall policy and affairs of the Church.

In accordance with the Constitution, the Members appoint Trustees, both Elders and Deacons. These, together with the Ministers, Church Secretary and Treasurer (who are also appointed by the Members), are responsible for the day to day running of the Church’s work and witness, and the financial and legal aspects of the charity. Trustees, both men and women, must be baptised Church Members securing the support of at least 66% of the Members voting by secret ballot at a Church Members’ Meeting. Apart from the Ministers (also Trustees), they are appointed for a period of 3 years, subject to the on-going support of the Church Members’ Meeting. Trustees meet at least bimonthly to consider the affairs of the Church. All Members are encouraged to take an appropriate part in the spiritual and practical tasks involved in the furtherance of the charitable objectives. Relevant matters may be submitted to the Church meeting by the Trustees for consideration or may be raised by Members in Church Meeting for consideration by the Trustees and Members. Though the Constitution permits decisions to be made at Church meetings by appropriate majorities, the Church seeks to work by consensus wherever possible.

The Trustees confirm that the major risks have been reviewed and systems or procedures have been established to manage those risks.

The remuneration package for ministers (classed as key management personnel of the charity) is based upon BUGB guidelines and national agreements made between BUGB and HMRC, and also takes account of existing historic arrangements with individuals. The complete package is applicable to full time ministers only: part time ministers will receive a basic salary pro-rata. Remuneration will be reviewed annually each October/November for inclusion in the budget. Recommendations will be made by the Finance Team and authorised by the Trustees.

e) Future Plans for 2021

To continue to develop spirituality, friendship, hospitality and care among our members. To welcome new people into the life of the church, and to reach out to our local communities with the good news of Jesus. We expect the church to continue to grow in numbers. To continue to offer online services and gatherings, even once restrictions on meeting together have been lifted.

To employ a children’s pastor and a youth pastor.

To maximize the opportunities of our new church building to welcome and serve the local community and share the gospel — especially as groups become able to meet again after the pandemic. To start new house groups in Cirencester and other local towns and villages. To strengthen our supportive relationships with smaller churches in our area - in particular Kings Stanley Baptist Church, Arlington Baptist Church, Bibury and Bourton Baptist Church. To explore the opportunity for planting a new church.

To strengthen the role of the local cluster of Baptist churches in the Cotswolds. To grow CBC’s ministry to young people and schools in the area — particularly looking at expanding into some more village schools. To seek opportunities to serve those in need in the local area.

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To encourage people from our church to serve and support those who are overseas — and to encourage people from CBC to consider going overseas to serve for medium to long term. To strengthen our relationship with Pastor Daniel Antonesei and his churches in Romania. To welcome and encourage students at the local Royal Agricultural University. Fund-Raising Standards Information

The charity does not employ a professional fund-raiser /commercial participator. The charity or any person acting on behalf of the charity was not subject to an undertaking to be bound by any voluntary scheme for regulating fund-raising, or voluntary standard for fund-raising in respect of activities on behalf of the charity.

We did not directly monitor activities carried on by any person on behalf of the charity for the purpose of fund-raising.

No complaints were received by the charity or a person acting on its behalf about activities by the charity or by a person on behalf of the charity for the purpose of fund-raising. We do not actively fundraise outside of our church building. Collections at each service are stressed to be on a purely voluntary basis and more directed at regular members and attendees.

(f) Trustees’ responsibilities statement

The trustees are responsible for preparing the Trustees’ Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England & Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charities (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

(g) Auditors

The auditors, MHA Monahans, will be proposed for re-appointment at the forthcoming Annual General Meeting.

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(h) Declaration

The trustees declare that they have approved the trustees’ report above.

Signed on behalf of the charity’s trustees

Full Name Caroline McKemey
Position ChurchSecretary ChurchTreasurer

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Report of the Independent Auditors to the Trustees of Cirencester Baptist Church

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Opinion

We have audited the financial statements of Cirencester Baptist Church (the charity’) for the year ended 31 December 2020 which comprise the Statement of Financlal Activities, the Balance Sheet and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice}.

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors’ responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identifled any material uncertalntles relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ablllty to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon.

Our opinion on the financial statements does not cover the other Information and, except to the extent otherwise explicitly stated In our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially Inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material Inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement

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in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters where the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, In our opinion:

Responsibilities of trustees As explained more fully in the Statement of Trustees’ Responsibilities, the trustees are responsible for the preparation of the financial statements which give a true and fair view, and for such internal control as the trustees determine Is necessary to enable the preparation of financial statements that.are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so. Our responsibilities for the audit of the financial statements We have been appointed as auditors under Section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder. Our objectives are to obtain reasonable assurance about whether the financlal statements as a whole are free from materlal misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted In accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are Instances of non-compliance with laws and regulations. We design procedures tn line with our responsibilities, outlined above, to detect material misstatements in respect of irregularlties, Including fraud. The extent to which our procedures are capable of detecting Irregularities, including fraud is detalled below:

Based on our understanding of the charity and the Industry, we Identified that the principal risks of non-compliance with laws and regulations related to health and safety, employment law, and Charity Law, and we considered the extent to which non-compliance might have a material effect on the financial statements of the charity. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as the Charities Act 2011 and taxation legislation.

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,

13

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We evaluated management's Incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls) and determined that the principal risks were related to revenue recognition, management override, and management bias in accounting estimates and judgemental areas of the financial statements such as the depreciation policy, valuation of debtors and valuation of fixed asset investments. Audit procedures performed by the audit engagement team included:

There are inherent limitations in the audit procedures described above and the further removed non-compliance with laws and regulations is from the events and the transactions reflected in the financial statements, the less likely we would become aware of if. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.

A further description of our responsibilities for the audit of the financlal statements is located on the Financial Reporting Councll's website at www.fre.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors.

Use of our report

This report is made solely to the charlty's trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity's trustees those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibllity to anyone other than the charity and the charity's trustees as a body, for our audit work, for this report, or for the opinions we have formed.

MHA Monahans

Statutory Auditors

Eligible to act as an auditor In terms of Section 1212 of the Companles Act 2006 38-42 Newport Street

Swindon Wiltshire SN1 3DR

Dates: csrscsssssscscesrsccsessssscsesecececssenees

14

Cirencester Baptist Church Statement of Financial Activities Year ended 31 December 2020

Year ended 31 December 20202020
Notes Unrestricted Restricted Endowment Total 2020 2019
Income and endowments from: £ £ £ £ £
Donations and legacies 2 336,949 148,959 0 485,908 526,668
Investments 3 319
337,268		 0
148,959		 0
0		 319
486,227		 573
527,241
Income from charitable activities
Use of premises 20,358 0 0 20,358 40,327
Government Grants 4a 3,172 0 0 3,172 0
Church Weekend away 0 0 0 0 0
23,531 0 0 23,531 40,327
Other trading activities
Fundraising activities 0 2,745 0 2,745 4,207
Other 0 0 0 0 4,252
Profit on disposal offixed assets 0 0 98,058 98,058 0
Total income 360,799 151,704 98,058 610,561 576,026
Expenditure on:
Charitable Activities
- Church		 4-5 311,033 56,960 61,812 429,805 514,880
Raising Funds 0 0 0 0 0
Total expenditure 311,033 56,960 61,812 429,805 514,880
‘Net Incoming Resources before other adjustments 49,766 94,744 36,246 180,756 61,145
Loss on disposal of Fixed Assets 6 0 0 0 0 0
Transfers Between Funds 11 23 (81,455) 81,432 0 0
Net Movement in Funds 49,789 13,289 117,678 180,756 61,145
Reconciliation of funds
TotalFunds BroughtForward: 97,329 30,264 2,473,296 2,600,890 2,539,744
TotalFundsCarriedForward 147,118 43,553 2,590,974 2,781,646 2,600,890

All income and expenditure derive from continuing operations

;

15

|||||||||| |---|---|---|---|---|---|---|---| |Balance Sheet 31 December 2020|||||||| ||Notes|2020|2020||2019|2019|| |||£|£||£|£|| |Tangible FixedAssets|10||3,491,107|||3,699,935|3| ||||3,491,107|||3,699,935|| |Current Assets|||||||| |Debtors|7|27,820|||26,833||| |Bank and Cash||166,261|||113,579||| |Total Current Assets||194,081|||140,412||| |Current Liabilities - due within one year|||||||| |Creditors - Loans|8|186,007|||304,140||| |Creditors - General|8|14,310|||15,009||| |Total Current Liabilities||200,317|||319,149||| |NetCurrent (Liabilities /Assets|||(6,236)|||(178,737)|| |Creditors - due overone year|||||||| |Baptist Union Loan|2]|605,314|||715,738||| |Baptist Building Fund Loan|9|75,000|||90,000||| |Other Creditor||22,913|||37,637||| |Mortgage - 4Sudeley Drive|9||||76,934||| ||||(703,227)|||(920,309)|| |Total NetAssets|||2,781,645|||2,600,890|| |Funded by:|||||||| |Endowment (property fund)|11||2,590,974|||2,473,296|| |Restricted Funds|11||43,553|||30,264|| |Unrestricted Fixed Asset Fund|11||33,811|||39,827|| |General Fund|11||124,049|||88,703|| |Pension Liability Reserve|11||(25,743)|||(41,201)|| |Designated Building Maintenance Fund|11||15,000|||10,000|| |Total Funds|||2,781,645|||2,600,890|| |Signed on behalf ofthe Trustees by:|||||||| |CarolineMcKemey-Treasurer||PeterMarrow-ChurchSecretary||Date:||||

16

| |

17

Statement of Cashflows Year ended 31 December 2020 2020 2019
£ £
Cash flowsfrom operating activities:
Netcash provided by(used in) operating activities		 136,097 140,816
Cash flows from investing activities:
Interest income 319 573
Purchase oftangible fixed assets (2,303) (5,899)
Proceeds from sale of tangible fixed assets 239,058 0
Netcash provided by (used in) investing activities 237,074 (5,326)
Cash flows from financing activities
Repayments of borrowing (320,491) (119,647)
Cash inflows from new borrowing 0
Netcash provided byfinancing activities (320,491) (119,647)
Change in cash and cash equivalents in the year 52,681 15,843
Cash and cash equivalents at the beginning ofthe year 113,580 97,737
Total cash and cash equivalents atthe end ofthe year 166,261 113,580
Reconciliation of net movement in funds to net cash flow from operating activities
2020 2019
£ £
Net income/(expenditure) forthe year 180,756 61,146
Adjustments for:
Depreciation charges 67,681 70,742
Loss on disposal offixed assets 2,448 630
Profit on disposal offixed assets (98,058)
Deduct interestincome (319) (573)
(Increase)/Decrease in debtors (987) 9,164
Increase/{(Decrease) in creditors (15,423) (293)
Netcash used in operating activities 136,097 140,816
Analysis ofchanges in net debt at start ofyear cash flows at end ofyear
Cash equivalents 113,579 52,682 166,261
Loans falling due within one year (304,140) 118,133 (186,007)
Loans falling due aftermore than one year
Total		 (882,672)
(1,073,233)		 202,358
373,173		 (680,314)
(700,060)

|

Cirencester Baptist Church Notes to the Accounts Year ended 31 12 2020 Accounting Policies

a General information and Basis of Preparation

Cirencester Baptist Church is an unincorporated charity. The address of the registered office and the nature of the charity's operations and principal activities are given in the trustees’ annua! report.

The charity constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011, and UK Generally Accepted Accounting Practice.

The financial statements have been prepared to give a ‘true and fair’ view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a ‘true and fair view’. This departure has involved following the Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland issued in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.

The financial statements are prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements are presented in sterlIng which Is the functional currency of the charity and rounded to the nearest pound.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwlse stated.

There are no significant areas of judgements or key sources of estimation uncertalnty.

Going concern

The trustees acknowledge the net current liabilities of £6,236 and the Impact that COVID has had on the financial position of the charity. The Income from hiring out the church facilitles has reduced during the lockdown periods, but we have many organisations waiting to start hiring with us again as soon as the current restrictions allow. Church giving also reduced but we are pleased to see that many members moved to giving directly to the church instead of by cash collections. During 2020 we entered into discussions with the loan providers who provided us with the option to take a two-month loan repayment holiday during which time we chose just to pay the interest due. We are pleased to note that at the end of the financial year we were able to make an extra payment make up the shortfall. Further options may remain available to us in the future. The trustees are confident that the charity will be able to generate sufficient income to meet its loan repayments. The trustees consider that there are no material uncertainties about the Charity’s ability to continue as a going concern.

Legal status The charity is an unincorporated trust constituted by its governing document.

18

| | | 2 | | |

All incoming resources are included in the Statement of Financial Activities (SoFA) when the charity is legally entitled to the income after any performance conditions have been met, the amount can be measured reliably and it is probable that the income will be received.

For donations to be recognised the charity will have been notified of the amounts and the settlement date in writing. If there are conditions attached to the donation and this requires a level of performance before entitlement can be obtained then income is deferred until those conditions are fully met or the fulfilment of those conditions is within the control of the charity and it is probable that they will be fulfilled.

Income from trading activities includes income earned from fundraising events and trading activitles to raise funds for the charity. Income is received In exchange for supplying goods and services in order to raise funds and is recognised when entitlement has occurred.

Interest income is recognised using the effective interest method and dividend and rent income is recognised as the charlty’s. right to receive payment is established.

Income from government and other grants are recognised at fair value when the charity has entitlement after any performance conditions have been met, it is probable that the income will be recelved, and the amount can be measured reliably. If entitlement Is not met, then these amounts are deferred.

c Grants payable

The church makes grants to individuals and other organisations whose charitable objectives complement its work. Where unconditional grants are offered, this Is accrued as soon as the - recipient is notified of the grant, as this gives rise to a reasonable expectation that the recipient will receive the grants. Where grants are conditional relating to performance then the grant is only accrued when any unfulfilled conditions are outside of the control of the charity.

d Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that settlement will be required, and the amount of the obligation can be measured reliably. All expenditure is accounted for on an accrual’s basis. All expenses, including support costs and governance costs, are allocated or apportioned to the applicable expenditure headings in the statement of financial activities. Irrecoverable VAT is charged against the expenditure heading for which it was incurred.

e Volunteers

Most of the management is carried out without charge by volunteers. This Intangible cost is not included In the Statement of Financial Activities since it is not practical to measure the value of the volunteers’ time.

19

| !

The endowment funds represent the value of buildings owned and used by the church. In the opinion of the Trustees the endowments are expendable, but the church may not sell any of its property without the express permission of the holding trustees, Baptist Union Corporation.

g Employee benefits

When employees have rendered service to the charity, short-term employee benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service.

The Church is an employer participating in a pension scheme known as the Baptist Pension Scheme (‘the Scheme”), which is administered by the Pension Trustee (Baptist Pension Trust Limited). The Scheme is a separate legal entity and 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 Contributions 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 note 13).

The charity also operates a defined contribution plan for the benefit of its employees. Contributions are expensed as they become payable.

Amounts owing to the charity at 31st December in respect of fees, rents or other income are shown as debtors less provisions for amounts that may prove uncollectable. Cash at bank and cash in hand includes cash and short term highly liquid Investments with a short maturity of twelve months or less from the date of acquisition or opening of the deposit or similar account.

Creditors 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 fo settle the obligation can be measured or estimated reliably. Creditors are normally recognised at thelr settlement amount after allowing for any trade discounts due.

Loans and borrowings are initially recognised at the transaction price Including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.

Tangible fixed assets are recorded at cost and depreciation is calculated to write off the cost, less-estimated residual value over their expected useful lives. Fixed assets costing more than

20

£250 are capitalised. Cost includes costs directly attributable to making the asset capable of operating as intended.

Depreciation is provided at the following rates on a straight line basis:

Freehold Land 0%
Freehold Buildings 2%
Computers and other electronics 25%
Furnitureandfittings 10%

m Tax

The charity is an exempt charity within the meaning of schedule 3 of the Charities Act 2011 and is considered to pass the tests set out in Paragraph 1 Schedule 6 Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes.

| | |

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Notes to the Accounts (continued)
ZPonations and legactes Unrestricted Restricted Endowment 2020 2019
£ £ £ £ £
Offerings & donations 277,238 121,838 0 399,074 444,096
Granta recalved 3,172 ie) (3) 3,172 725
Tax refunds 69,710 27,124 0 86,834 80,947
2a [Donations] Total donationsfromof £53,265Trusteeswere recelved from trustees. These donations were all glven without conditions.340,121 148,059 i) 489,080 526,668
Trustees also donate via church plate collections, These amounts are not recorded separately
2b Related Party Transactions
Total donations of £16,460 were recelved from close famlly members of trustees, These donations were all glven without conditions.
Thay may also donate via church plate collections. These amounts are not recorded separately
The wife of trustee P Tralner is employed by the church being responsible for worship, student ministry and medla and eamed
gross salary of £6,026 and employer's panelon contributions were £602.
There were no other related party transactions.
----- End of picture text -----

2income from Investments 2020
£		 2019
£
Bank Interest 319 573
318 573
4Expenditure
on Cherltable Activity		 Unrestricted
£		 Restricted
£		 Endowment
£		 2020
£		 2019
£
Miolstry
Total employmentcosts
andexpenses
Visiting preachers		 126,695
567
127,252		 0
[t}
[¢)		 0
0
0		 126,695
557
427,252		 133,057
2,324
136,381
Misslon/outreach
Grants payable
(sea nota5)
dunlor Church
Leadertralning/conferences
YouthClub
FridayUnderSe
Singles outreach group
Clran Pilgrims (football team)
Help Fund
Seads ofChangeWoman'sConf fo ald Christian mission towoman IntheUK
Eat Lunch -to ald Chrétian miaston In UK
Local outreach		 36,893
3,325
323
0
6,026
0
762
46
ie]
fe)
126		 28,670
0
0
494
4,018
235
0
953
601
813
0		 0
it}
ie]
0
ie)
ie]
0
0
0
0
}		 67,4863
3,325
323
494
7,044
235
762
998
601
813
428		 73,480
8,874
4,919
5,231
7,723
185
1,528
10,004
1,563
1,458
554
Church awayweekend &days 0
49,600		 0
32,684		 0
0		 0
82,184		 ie}
115,603
Establishment
Church
Heat, light, ine. etc
Repaire/malntenanca
Depreciation
Loss ondisposal ofFixedAssets
Bullding loanrepayments Included In revenueexpenditure
IntereetPayableon Bullding Loans		 41,687
9,946
6,870
1,077
0
0		 te)
te}
0
0
0
24,278		 is)
0
61,812
0
0
0		 11,687
9,946
67,682
4,077
0
24,276		 22,278
6,361
70742
830
i]
31,819
Other Coats 10,749 0 0 10,749 17,366
Manses/cotiages
Heat, light, ins. ete
Repalrs/malntenance
Mortgage payments-4 Sudeley Drive
Support Costs
Administratoremployment costs
Facilities Manageremployment costs
Pension - Interest cost		 27,815
0
2,122
89,268
26,149
23,703
673		 f°)
0
ie]
24,276
0
0
0		 0
ie)
0
61,812
fe)
0
0		 27,816
0
2,122
456,364
26,149
23,703
873		 32,507
5,865
2,864
180,421
26,788
19,480
1,002
Penglon -rameasurament -12,874 0 9 12,874 &79
Equlpment/audlo-viaual materials
PrintIng/Statlonery
Subscriptions etc
Postage/Telaphone
Job advertisement costa
Miscellaneous
Govemance Costs
Auditor's remuneration
Otherprofessional fees		 7,533
3,090
5,091
1,689
4,316
4,695
7,049
85,014		 0
ie]
ie)
ie)
0
ie]
is}		 0
0
0
0
it]
ie)
0		 7,633
3,000
6,091
1,889
1,316
1,696
7,049
0
65,014		 3,797
6,645
4312
4,449
1,384
9,268
776
73,475
Total Charitable Expenditure 311,033 56,960 64,812 429,806 614,881
4a, Govemment Grants £ 2020 2019
£
Recalved for Coronavirus Job retention echeme grant 3,172 0 9 3,172 [e}
3,172 0 0 3,172 0

Goverment grants: £3172 (2019: nil) of govamment grants were recelved for Coronavirus Job Retention Scheme grant. There were no unfilled conditions and other contingencies attached to grants that have bean recognised in Incame, and the charity has not diractly benefited from any other form of goverment assistance.’

[ |

22

Notes to the Accounts (continued) Staff costs and Trustees expenses 2020 2019 Salarles - Gross salary 149,445 147,361 Social securlty costa - employers national insuranca 12,093 12,773 Pansion - employers contrbutlons 45,903 14,875 Other employee benefits - rent 21,800 25,363 Other costs - council tax, water, telaphone 5,816 13,999 Total 204,887 214,161 The average number of employees during the year was 8 (2019: 8) No employee recelved emoluments In excess of £60,000 (2019 none).

Trustees Remuneration Tha follaving trustees (who are also classed as kay management personne!) are remunerated by the church for thelr role aa Pastors & Facilities Manager. 2020

TrusteesRemuneration
Trustees Remuneration
Tha follaving trusteesfollaving trustees (who are also classed as kay management personne!)are also classed as kay management personne!)also classed as kay management personne!)classed as kay management personne!)as kay management personne!)management personne!)personne!) are remunerated by the church for thelr role aa Pastors &remunerated by the church for thelr role aa Pastors &		 are remunerated by the church for thelr role aa Pastors &remunerated by the church for thelr role aa Pastors &by the church for thelr role aa Pastors &the church for thelr role aa Pastors & are remunerated by the church for thelr role aa Pastors &remunerated by the church for thelr role aa Pastors &by the church for thelr role aa Pastors &the church for thelr role aa Pastors &church for thelr role aa Pastors &for thelr role aa Pastors &thelr role aa Pastors &role aa Pastors &aa Pastors &Pastors & are remunerated by the church for thelr role aa Pastors &remunerated by the church for thelr role aa Pastors &by the church for thelr role aa Pastors &the church for thelr role aa Pastors &church for thelr role aa Pastors &for thelr role aa Pastors &thelr role aa Pastors &role aa Pastors &aa Pastors &Pastors && are remunerated by the church for thelr role aa Pastors &remunerated by the church for thelr role aa Pastors &by the church for thelr role aa Pastors &the church for thelr role aa Pastors &church for thelr role aa Pastors &for thelr role aa Pastors &thelr role aa Pastors &role aa Pastors &aa Pastors &Pastors && Facilities Manager. 2020 2020 2020
£ £ £
Other
amployers pension employee
MrM Frost
Ma N Shrubsola
Mr P Tralner
MrS Chandanam		 ‘ groas salary
32,442
29,283
26,783
20,264
108,789		 contributlons
3893
3514
3339
2395
13.141		 benefits
13200
0
8400
0
21,600
2019
£		 £ 2019 z 2019
Other
employers pension smployee
RevRPMorris
MrM Frost		 : gross salary
10,275
31,697		 contributions
4528
3804		 benefits 3763
13200
Ms N Shrubaole
MrPTralner
MrS Chandanam		 26,601
26,346
16,616		 3192
3262
1931		 0
8400
Q
141,835 16,717 26,383
Other employee benefits Includeamounts pald as rent
Two Trusteas, who ara also employees, Ilve In housing leased bythe church from himselfand his spouse
No sums were relmbursed to theTrustees for thelrworkas Trustees (2018 none}
NoTrustees were relmbursed axpenses (2019none)
Pension costs
The church pays pension contributions for one of its employeas to the Baptist Penslon TrustLimited, a multi employerscheme treated as a
defined contribution scehme (sea note tl), Accordingly,dus to thenature ofthe Scheme, the profit and loss charge forthe perlod represents the
employercontributions payable. The total pension cost to thls Scheme for the Churchwas£502 (2019: £6,662),
Pension contributions are pald to defined contdbutlon schemes on behaif ofthree of the ministars, the administrator and the facilites manager.
The total pension cost forthe Church to the defined contibutlon schemes was £15,401 (2019 £14,396}
No contributlona were outstandIng at the Balance Sheet date.
5 Grants Payable Unrestricted
g		 Restricted £ ;
Endowment
£		 2020
£		 2019
£
WEBAHome Mission -toald Christan mission In theUK
BMSWorld Mission - toald Chrietlan missionworldwide
The Coes~toald Christan mission In Germany(Teach Beyond)
D & J Parker -toald Christlan missionworldwide (Interserve}
Moldova &Romania -toald Christlan migston InMoldova&Romania
Nepal/Pakistan Ald - to ald Christan misslon InNepal & Pakistan
Pastor Daniel — to ald Christian mission In Romanla&Moldova
Samaritans Purse -ShoeboxAppeal
Jess Price -supportas Pastoral Asatstant
HorneforGood - toaid Christian fostering and adoptlon
Jethro Kingsley -to aid Christian mission In Japan
SAT 7 - toald Christian misalon tn Asia
TaarFund -toald Christian miasion and disasterrellef
In memoriam -to support cancer research and teenage counselling
Chum Project -tosupportvulnerable&marginalleadfambles InClrancester
Open theBook -toaid Chriatlanmission inUKprimary schools
Defidfrillator -to glva Chratlan aupport tothelocal community
Other
21 ofthasegrantswaremade to organisations and3 to Individuals		 12,800
5,163
12,800
§,080
8]
0
1,300
i9)
0
0
0
a
ie}
0
260
500
0
4,000
38,893		 0
fe)
3,756
0
6,388
Q
3,519
i?)
200
it]
6,125
0
4,003
}
ie]
0
900
Q
50
9
5,611
0
0
0
20
0
0
0
0
0
0
i)
Oo
)
0
0
28,570
i)		 12,800
8,919
18,188
8,599
200
5,125
6,303
0
900
50
5,611
0
20
0
260
600
0
1,000
67,483		 12,889
4,233
16,613
7,938
13,013
3,695
3,487
624
2,276
0
1176
232
2,038
2,085
250
550
1,820
1,784
73,480
§ Auditor's Remuneration 2020
£		 2019
£
Auditor's Remuneration
Audit ofthe financial statements
Under accrual In prioryear
Non auditwork		 7,049
f°)
0		 7,000
B43
4,625
7,049 9,268

23 |

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||||||||||||||||| |---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---| |Notes|to|the Accounts|(continued)| |TPebtors|2020|2019| |£|£| |Accrued|Income|19,426|18,6555| |Prepald|Expenses|6.410|6,345| |Trade|debtor|1,984|1,933| |27,820|26|833| |9|Creditors|-|Dus|In|legs|than|a year|2020|2019| |£|£| |Accruals|11,480|11,446| |Other creditor|2,830|3,684| |Loans|due|lass|than|one|year,| |BUC maln loan|76,007|94,140| |BBF|Loan|15,000|16,000| |Member loans|95,000|496,000| |20317|819,149.| |2|Secured|tlabliities| |The|Baptist|Union|Comoration|acts|as|custodian|trustees|for our|bultding,|so|holds|security for tha|main|bullding|loan.| |10|Fixed|assets| |Tangible|Fixed|assets|Land|and|Bulldings|Other|Fixed Asseta|2020|2019| |£|£|£|£| |Cost|at|1st January 2020|3,850,669|56,226|3,908,825|3,901,827| |Additlons|2,303|2,303|5,899| |Disposals|(150,000)|(3,352)|(153,352)|{900}| |At 34at Dacamber 2020|3,700,599|55,177|3,755,776|3,908,828| |Accumulated|deprecjation|at|1st January|2020|490,491|18,399|206,890|136,419| |Charge|In|year|81,812|6,870|67,682|70,742| |Disposals|(9,000)|(903)|(9903)|(270)| |243,303|21,388|264,669|206,891| |NET BOOK VALUE| |At|{st January 2020|3,660,108|39,827|3,699,036|3,785,408| |At 31st December 2020|3,467,298|33,811|3,494,107|3,699,935| |Propertles| |The|sole|property owned|by|the|church|Is|the|church|bullding|In|Chesterton|Lane.|

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||||||||||||||||| |---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---| |11Funds| |RastrictedMovement fundsIn funds 2020|1.1.2020|RasourcesIncoming|ExpendedResources|TransfersIn/(out)|31.12.2020| |£|£|£|£|£| |New|Bullding|Fund|- see|analysis|below|18,187|112,774|24,278|(81,455)|23,210| |BMS World|Mission|- to|ald|Chratian mission|worldwide|1,170|2,585|3,768|0|0| |The Coss ~ to|ald|Christan|mission|in|Germany (Teach|Beyond)|1,720|4,678|5,388|0|910| |D & J|Parker|-|to|ald|Christlan mission|worldwide|(Interserve)|277|3,663|3,619|0|424| |Moldova|&|Romania|- to|ald|Christian|migalon|in|Moldova|&|Romania|2,692|320|200|0|2,712| |Pastor|Danlel -|to ald|Christian|mission|In|Romania|&|Moldova|4,342|3,978|4,003|0|1,317| |Youth|Club|ai|980|494|0|697| |Seeds|of Change Women's|Conference|2,405|1,318|601|i)|3,122| |Jeas|Prica|- support as|Pastoral|Asalstant|25|926|900|0|50| |Friday Under 58 Toddler group|228|1,778|4,018|ie}|987| |Singles|outreach|group|42|749|2%|9)|555| |Help|fund|- providing|financial|support for those|In|need|0|7,300|953|ie]|6,948| |Youth|mission|- to|aid|Chriatlan mission|worldwide|2,033|0|i}|Q|2,033| |Tear|Fund|- to|ald|Christlan|mlasion|and disaster|rellef|ie)|20|20|it)|ie]| |Jathro|Kingsley|- to|ald|Christian|misaton|In Japan|Hn|6,300|6,330|0|fe)| |Jathro|Kingeley|Children’s|ministry|offering|-|to|ald|Christian|migalon|In Japan|146|136|284|0|0| |Nepal/Paklatan|Aid|- to ald|Chrlatlan|mission|In|Nepal|&|Pakistan|ie)|6,126|6,125|i?)|a| |Home for Good|-|to|ald|Christian|fostering and|adoption|ie)|50|50|0|0| |Eat|Lunch|- to|ald|Christan|mission|In UK|4,879|)|813|it)|1,086| |Clren|Pligrims|- to ald|ChristianTotal Restricted mission|infundssport|30,285i)|461,704125|56,9609|(81,455)is]|43,563125| |Naw|Building|Fund|-|detail|16,167|18,187| |-|Donations|and|Grants|Received|89,209|89,209| |+|Gift Ald|20,821|20,821| |-|Income from|Fundraising|events|atc.|2,745|2,748| |-|Capltal|Repayments|(81,466)|(81,455)| |~|Loan|interast|24,276|(24,278)| |-|Fundraising|costs|0| |-|Transfer|from|General|Fund|0| |16,167|112,774|24,278|(81,456)|23,210|

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All restricted fund asaets are held In cash at bank or on deposit with the Baptist Union Corporation. The purpose of each restricted fund ja deacribed In the name glvan to the fund as listed above.

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|||||||||||||||||||| |---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---| |Notas|to|the Accounts|(continued)| |1.1.2019|Incoming|Resources|Transfers|31.12.2019| |Restricted|funds 2049|Resources|Expended|(n/{out)| |£|£|£|£|£| |New|Building|Fund|- see|analysis|below|15,440|123,863|31,819|(91,117)|16,167| |BMS World|Misslon|- to ald|Christlan|misston worldwide|20|1,388|237|ie}|4,171| |The Coes|- to ald|Chnstlan|mission|In|Germany (Teach|Beyond)|873|4,090|3,243|0|1,720| |D & J|Parker|- to|ald|Christlan|mission worldwide|(Interaerve)|93|3,126|3,022|82|278| |Moldova &|Romania|- to ald|Christlan|mission|In|Moldova & Romania|2,873|12,580|13,013|162|2,692| |Maldova|&|Romania,|child|min|coll|-|to|ald|Chaetlan|mission|in|Moldova &|Romanle|0|462|0|(152)|ie)| |Pastor|Daniel|—|to|ald|Christlan|mission|In|Romanla|&|Moldova|3,092|500|2,260|0|4,342| |Youth|Club|762|4,680|5,234|0|211| |Seeds|of Change Women's|Conference|Q|3,974|1,569|0|2,405| |Jess|Price|- support|as|Pastoral|Assistant|0|2,300|2,275|0|26| |Friday Under|6s Toddler group|245|3,288|3,307|it]|228| |Singles|outreach|group|237|it]|196|0|42| |Help fund|- providing|financlal|support|for those|In|need|859|8,879|9,738|0|0| |Youth|mission|~ to|ald Christian|mission worldwide|0|1,000|0|1,033|2,033| |Tear|Fund|- to ald|Christlan|mission|and|disaster|reflef|(105)|2,141|2,038|0|0| |Samantans|Purse|Children's|Ministry|offering|- Shosbox Appeal|650|74|624|0|0| |SAT7|- to|ald Chrstlan|Minlstry worldwide|232|[t}|232|0|is}| |Jethro|Kingsley|-|to akd|Christian|mission|In Japan|0|1,203|1,175|0|28| |Jethro|Kingsley,|chikd|min|coll|- to|ald|Christan|mission|In Japan|0|145|0|0|145| |Nepal/Paklatan|Ald|- to|ald|Christian|mission|In Nepal|& Pakistan|0|3,696|3,695|0|is)| |Eat Lunch|Childrens'|Ministry|offering|- to ald|Christian|mission|In|UK|0|86|0|(86)|is)| |Eat Lunch|-|to ald|Christlan|mission|In UK|902|2,260|4,458|86|1,880| |(n|memorlam-|to support|cancer research|an|teenage|counealling|ie]|3,098|2,065|(1,033)|it]| |Defibfillator Fund|- to glva|Christian|support|to the|local|communlty|548|736|1,820|338|0| |Cirencester|Hospital|- to|give|Christian|support to those who are|Il|(3)|3|0|0|0| |Open|the Book|- to ald|Christan|mission|In UK primary schools|0|60|50|is}|0| |Other|15|760|765|ie]|it]| |Total|Restricted|funds|26,721|183,868|88.618|(90,897)|30,264| |New|Bullding|Fund|- detell|15,440|16,884| |-|Donations|and|Grants|Recelved|98,626|98,526| |-|Gift Ald|20,930|20,930| |-|Balance|-|sale|proceeds|of Coxwell|St properties|hald|by BUC|0|fo)| |-|Income from Fundraising|events|etc.|4,207|4,207| |- Capltal|Repayments|(96,581)|(96,581)| |-|Loan|Interest|(31,819)|(31,819)| |-|Fundraising|costs|0| |Tranafer from|General|Fund|6,464|6,464| |-|Capital|Expenditure|from|bullding fund|0| |18,440|123,683|(31,819)|(91,117)|18,187| |Endowmentfunds|2020| |1.1,2020|Incoming|Resources|Transfers|31.12.2020| |Resources|Expendad|In/(out)| |Endowment|funda|£|£|£|£|£| |2,473,296|98,068|61,812|81,492|2,690,974| |2,473,296|98,058|61,812|81,432|2,590,974| |Endowment|funds|2019|,1.1.2019|Incoming|Resources|Transfers|31.12,2019| |Resources|Expended|Sn/(out)| |£|£|£|£|£| |Endowment|funds|2,418,464|i}|84,912|119,847|2,473,298| |2,418,481|0|84.812|119,647|2,473,208| |Unrestrictedfunds|2020| |1.1.2020|Incoming|Resources|Transfers|31.12.2020| |Resources|Expended|In/(out)| |£|£|£|£|£| |Fixed Asset|Fund|39,827|0|0|(6,018)|33,811| |General|Fund|88,703|360,789|326,491|1,038|124,049| |Pension|Liability|(41,201)|0|(15,458)|(25,743)| |Bullding|Malntenance|reserves|40,000|0|i)|5,000|16,000| |Transfers|between|funda|97,329|360,789|311,933|22|147,117| |a|transfer of £5,000|has|been|made|from|the|general|fund|to|the|deslgnated|Bullding|Maintenance Reserve|to|allocate funds|to|repair the|bullding.| |The|fixed|asset fund|transfers|reflect|the|net|of new asset|additions|less|depreciation|during|the|year.|

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Unrestrictedfunds 2049 4.1,2018 Incoming Resources Transfers 31.12.2019
Resources Expended In/{out)
£ £ £ E £
Fixed Asset Fund 40,488 0 0 (861) 39,827
General Fund 92,943 392,169 363,120 (33,289) 88,703
Penslon Liability (43,869) 0 {2,868} 0 (41,201)
Building Malntenance reserves 5,000 ie] Q 5,000 10,000
94 582 392,189 360,462 (28 850} 97,329
Anatyale of net assets batwoen funds 2020 Unreetricted Restricted Endowment 2020
Fund Fund Fund Total
£ £ E £
Fixed assets 33,811 Q 3,457,296 3,491,107
Current essets 160,528 43,553 0 194,081
Current Ilabilities (14,310) (188,007) (200,317)
Long term llabllitles {22,913) i¢] (680,314) (703,227)
147,118 43,553 2,690,974 2,784 645
Analysis of net assots between funds 2019 Unrestricted Restricted Endowment 2019
Fund Fund Fund Total
£ £ £ £
Fixed asests 39,827 0 3,660,108 3,899,935
Current asgete 110,148 30,264 Q 140,412
Current llablilties (16,000) 0 (304,140) (319,149)
Long term fiabllities (37,837) i¢] (882,872) (920,300)
97,328 30,264 2,473,296 2,800,890
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Notes to the Accounts (continued)

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||||||||||||||||||||| |---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---| |Analysis|of Endowment fund|2020|2019| |£|£| |Fixed|asset|- New Church|Bullding,|Chesterton|Lane,|Cirencester|3,467,295|3,519,108| |Fixed|asset|- 60% 4|Sudeley|Drive|141,000| |long|term|llabilltles:| |Mortgage on 4 Sudeley|Drive|(76,934)| |BUC maln|loan|(681,321)|(809,878)| |BSF Loan|(90,000)|(105,000)| |Members|Loans|(96,000)|(196,000}| |2,500,974|2,473,298| |12|Comparative|Statement|of|Financial|Activities|as restated restated| |Statement|of|Financial|Actlvitles| |Year onded|31|December 2019| |Income and endowments|from:|Unrestricted|Restricted|Endowment|Total 2019| |£|£|£| |Donations and lagacles|347,019|179,650|0|526,868| |Investments|573|0|0|673| |Income|from|charitable|activities| |Use of premises|40,327|0|0|40,327| |Church Weekend|away|i¢]|0|it)|it)| |Fundralsing|ActMitles|- New Church|Bullding|i¢]|4,207|4,207| |Other|4,252|0|0|4,252| |Total Income|392,169|183,867|Q|676,027| |Expenditure|on:| |Charltable Actlviles|360,452|89,617|64,812|614,880| |Fundralsing|costs|0|it]|Q|0| |Total|expenditure|360,452|89,617|64,812|514,880| |Net|Incoming|Resources before|transfers|34,717|94,240|(64,812)|1,146| |Transfers|Between Funds|(28,960)|(90,697)|119,647|0| |Net Movement|in|Funds|2,787|3,543|64,835|61,146| |Reconelllatlon|of|Funds| |Total Funds Brought Forward| |As|previously reported|138,431|26,721|2,418,461|2,683,613| |Prior year adjustment|(43,869)|(43,869)| |As|restated|94,562|26,721|2,418,461|2,639,744| |Total|Funds Carrled|Forward|97,320|30,264|2,473,296|2,600,880| |413|Pension|.| |The|Church|Ia|an|amployar|participating|In|a|pension|scheme|known|as the|Baptist|Penslon Scheme|(“the|Scheme”),|which|Is adminlatered|by the|Pension| |Trustee|(Baptist Pension|Trust|Limited),|The Scheme||s|a separate|legal|entity and the assets|of tha 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|Contributions|In force|at that time.| |The|Scheme|Ia|considered|to be|a|multi-employer scheme|as|deacribed|In|Section|28|of FRS|102.|This|Is because|It|!s|not possible|to attribute the Scheme’s| |asgets|and|liabilities|to specific amployers|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|contributlona|payable|towards|benefits and expensee|accrued|In|that year,|plus any Impact of deficiency contributions| |(80|below).| |The|Minister{s)|(and|some members|of the|church|staff]|Is|/ are|eligible|to Join|the|Scheme.| |From|January 2012,|pension|provision|Is being made through|the|Defined|Contrbutlon|(DC)|Plan within|the Scheme.|In|general,|mambers|pay 8%|of thelr| |Penslonable|Income and|employers|pay 6%|of members’|Penslonable|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 Penslonable|Income|to|cover Death|In| |Service|Benefits,|administration|costs,|and|an|associated|insurance|policy which|provides income|protection|for Schame members|In|the|event|that|they|are| |unable to work due to|long-term|Incapacity.|This Income protection|pollcy has|been|insured by the|Baptist Union|of Great|Britaln|with|Aviva|plc.|[Members|of|[the]| |Basic Section pay reduced|contributions|of 5%|of Penslonable|income,|and|thalr employers|also|pay a tatal|of 5%.] The further 4% contribution|rate|Is|reduced|to| |3%|for Employer|contributions made|to|the|Segregated|DC Arrangement.|

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12 Comparative Statement of Financial Activities as restated restated

Benefits In respect of service prior to 1 January 2012 are prowded through the Defined Benefit (DB) Plan within the Scheme. The main benefits for pre-2012 service were a defined benefit pension of one elghtieth of Final Minimum Penslonable Income for each year of Pensionable Service, together with additional pension in respect of premiums pald on Penslonable Income In excess of MinImum Penslonable Income. The Scheme, previously known as the Baptet Ministers’ Pension Fund, started In 1925, but was cloged to future accrual of defined beneflts on 31 December 2011. Actuarial valuation a8 at 31 December 2018 A formal valuation of the Defined Benefit (DB) Plan was performed at 31 December 2019 by a professionally qualifled Actuary using the Projected Unit Method. The market value of the DB Pian aseeta at the valuation date was £298 million. The valuation of the DB Plan revealed a deficit of assets compared with the value of llabllitles of £18 millon (equivalent to a past service funding level of 94%). The Church and the other employers supporting the DB Plan are collectively rasponsible for funding thle deficit.

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|||||||||||||||||||||||| |---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---| |The|key|assumptions|underlying|the|valuation|were|as|follows:| |RPI|price|inflation|assumption|3.20| |CPI|price|inflation|assumption|2.70| |Minimum|Pensionable|Income|increases|(RPI)|3.20| |Assumed|investment|returns| |-|Pre-retirement|2.95| |-|Post|retirement|1.70| |Deferred|pension|increases| |-|Pre|April|2009|3.20| |-|Post|April|2009|2.50| |Pension|increases| |-|Main|Scheme|pension|2.70| |Post-retirement|mortality|in|accordance with 80%|of the S2NFA|and S2NMA|tables,|with|allowance|for future|improvements|in|mortality|rates|from|2013|in|line| |with|the|CMI|2019|core|projections,|with|a|long|term annual|rate|of improvement|of 1.75%|for males|and|1.5% for females,|with|the core smoothing|parameter and| |with|additional|initial|mortality|improvement|factor A=0.5%.| |The|next|actuarial|valuation|of|the|DB|Plan|within|the Scheme|is|due|to|take|place|not|later|than|as|at|31|December|2022.|

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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 2020, deficiency contributions are payable until 30 June 2026. These contributions are broadly based on based on the employer's membership at 31st December 2014 and increase annually in line with increases to Minimum Pensionable Income as defined in the Rules. However, the Trustee and Council agreed a 50% reduction for all deficiency contributions payable between 1 July 2020 and 31 December 2020.

Movement in Balance Sheet liability

Section 28.11A of FRS 102 requires agreed deficit recovery payments to be recognised asa liability. The movement in the provision is set out in the table below.

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|||||||||||||||||||||||| |---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---| |Balance|sheet|liability|at|year|start|£41,201|£43,869| |Minus|deficiency|contributions|paid|-£3,257|-£4,249| |Interest|cost|(recognised|in|SoFA)|£672|£1,002| |Remaining|change|to|balance|sheet|liability|(recognised|in|SoFA)|-£12,874|£579| |Balance|sheet|liability|at|year end|£25,743|£41,201| | Comprises|any change|in|agreed|deficit|recovery|plan|and|change|in|assumptions|between|year-ends.| |This|liability represents|the|present|value|of the|deficit|contributions|agreed|as|at|the|accounting|date and|has|been|valued|using|the|following|assumptions|set| |by|reference|to|the duration|of the|deficit|recovery payments:| |Discount|rate|0.4%|1.7%|2.4%| |Future|increases|to|Minimum|Pensionable|Income|3.0%|3.2%|3.3%| |Cessation|Event| |Consequent upon|the|departure|of the|Minister from the|Church|in|2019,|the Church|had|a|cessation|event under Section|75|of the|Pensions|Act|1995.|This| |makes|the|Church|liable|for the|proportion|of the|overall|deficit|(assessed|by|reference|to|the|cost|of securing|benefits|by the purchase|of annuities)|applicable|to| |its|previous|Ministers who were|members|of the|Scheme.| |In|2019|the|Church|entered|into a|“Deferred|Debt Arrangement”.|Under|this|arrangement|the Church|is|no|longer|liable|for|this|debt,|but the|Church|continues|to| |pay the ongoing|deficiency|contributions|as|outlined|above.|There|are|limited|circumstances|under the|Deferred|Debt Arrangement where|the|Church|would| |become|responsible for|a|debt equal|to|its|share|of the|current|BPS|deficit (assessed|by reference|to the|up|to date cost|of securing|benefits|by|the|purchase|of| |annuities).|

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