## CIRENCESTER T BAPTIST CHURCH 


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Trustees’ Annual Report & Accounts for the Year Ended 31‘* December 2022 



## Contents 

Trustees’ Report 1-11 Independent Auditor’s Report 12-15 Statement of Financial Activities 16-18 Accounting Policies 19 - 21 Notes to the Accounts 22 - 26 


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Cirencester Baptist Church Annual Report Ist January 2022 to 31* December 2022 

## 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) (until end of July 2022) Mrs Naomi Shrubsole (Youth and Children’s Pastor) Mr Peter Marrow (Secretary) Mrs Caroline McKemey (Treasurer) Mrs Clare Baker Mr Steve Chandanam Mr Granville Gray Mr Colin Lawford Dr Michael McKemey Mr Martin Rigley (until May 2022) Mrs Cate Oxenham Mr Paul Willmott 

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

Other Officers Adnministrator Mrs Pat Lee (until July 2022) Mrs Debbie MacGregor (June 2022 onwards) Pastoral Worker Miss Ann-Rachel Harwood Friday Under Fives Worker Mrs Stephanie Kingsley Facilities Manager Mr Steven Chandanam Worship Pastor Mrs Robyn Trainer {until end of July 2022) Children’s Pastor Mrs Elizabeth Glover Youth Pastor Mr Luke Dives 

Bankers Auditor Lloyds TSB Bank pic Monahans, 14 Castle Street Hermes House, Cirencester, Glos Fire Fly Avenue, GL7 1Q) Swindon. SN2 2GA 

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## Annual Report for 2022 

The Trustees present their report and the audited financial statements of the charity for the year ended 31‘ December 2022. 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 9'* 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. 

The principal activities of the Church may include, but are not restricted to: regular public worship, prayer, Bible study, preaching and teaching; 

- e baptism, as defined in the Baptist Union’s Declaration of Principle; 

- e@ the communion of the Lord’s Supper which is normally observed at least once a month; e evangelism and mission, locally, regionally, nationally and internationally; e the teaching, encouragement, welcome and inclusion of young people; 

- e nurture and growth of Christian disciples; 

- e@ education and training for Christian and community service; e giving and encouraging pastoral care; 

- @ supporting and encouraging charitable social action in the United Kingdom and abroad; 

- ® encouraging relationships with and supporting Baptist and other Christians. 

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. 

With the easing of Covid restrictions the church during 2022 was able to return activities to ‘normal’. This was very welcome. The Covid restrictions have meant changes — some people have moved on, whilst new people continue to arrive. 

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ot oa oo GS Bi wre oe = == =CDuring 2022 a number of significant team<br>= lel Li iz pee, sinformationls ig engi took place. Our church<br>ae!seer as Oe | 7 Adievs dmini £25 ‘red in Jul<br>i  . >tf lames ie | thea. F Amey | a CIEE, ° TESS TENS in July.<br>5 =e f | WS - a! . _. We advertised and appointed a church<br> = €} [36% , ) So a gal. As =y__. member to the role in June. In July our<br>‘ el — » © be , i! ay assistant pastor and worship pastor (married<br>wae Yr to BCG = “cea couple) left Cirencester to work with a church<br>ete = » & » ee % | 4 Vv “ Be in Kent. This was a big step for them and for<br>nyoe J Leet ‘a -~ > the church - but a positive one. Also, our<br>cer ae , Ove eo eS ee long-term intern moved to a full-time role<br>age a ny Sat @ 2 * with a group of churches in Wiltshire, and<br>Backctoie a aGa: |ouratyouth intern moved to a new internship in<br>Pat’s leaving lunch at The Gateway We began the recruitment process for a<br>new Associate Pastor in the summer. We did<br>**----- End of picture text -----**<br>


not appoint from the first round of interviews in the summer. The church will hopefully appoint in early 2023. 

Central to the work and witness of the church is the provision of regular public services of Christian worship. These services take place at 9am, 10:30am and 6:30pm. 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 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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With the return to being able to meet fully ‘in-person’ the need for more volunteers became obvious. As with<br>many organistations, volunteers had stepped back during lockdown, and during much of 2022 the church was<br>actively recruiting volunteers to make possible all that happens during our Sunday services and weekly<br>activities. We are very grateful to all of these people. Attendance at services grew in number during 2022.<br>In addition each week 30-50 people attend the services live on YouTube and another 200 or so watch later<br>on as ‘catch-up’. This has been a welcome addition to what the church can offer.<br>all rT 3 . - 7 = ie ariey oF a “gine of pia aroups a beara<br>i —— eH ag ee , pes e growth o ont , pastoral care, and relationship wit<br> | P| pe. LS | Pad ala = = the local community. By the end of 2022 there were 22<br>| a FS ne on 4 A oe om such groups, comprising some 270 people meeting in<br>Sa : = Ye oh ng ee) _____ various homes throughout the catchment area of the<br>--.. fer = church, namely Cirencester and surrounding villages &<br>a __™ & i ée ES towns. The Bible study element of these groups follows the<br>me . | oN wm, =F aS oo Sunday service teaching. All who consider themselves part<br>ar ‘4 on Fi B, SF F os of the church are encouraged to integrate into the life of<br> Bailiemmolwae RES are : ™ a house group. Details of these groups are advertised in<br>. nie oR a ae Es i — the church news sheet.<br>Gor brep-day All of the groups returned to meeting in-person during<br>2022. One of the groups has now become the<br>designated ‘Zoom group’ — meeting solely online for people for whom this is more helpful.<br>**----- End of picture text -----**<br>


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i Pies ie ees Se . ee ; = =<br>= ie9* i aeoe [coh]<br>awh BL  Lisee ie fy ¥ —~— bo ae Se Vee Mt Na<br>es ee<br>Viney Hill Youth Weekend Christmas Revive<br>Ministry with Youth and Children on Sundays and in the week has continued to grow. On Sunday mornings<br>many families worship with us, on average about 90 attend each week, but over a month we average 150<br>different individuals. We have an established monthly music-based worship event called ‘Revive’ which is<br>designed to appeal to young people in the church and community.<br>This has grown back to pre-covid levels of attendance during the year. This is in addition to the 4 midweek<br>youth & children’s house groups that regularly attract 35 nine to eighteen-year-olds each week. We have<br>been delighted to see more attending these groups.<br>Our weekly Friday-Under-Fives group runs three eng \ :|<br>sessions every Friday morning during school term ees TF ;<br>time. We run two sessions for parents and toddlers, Bast os — } eae<br>and one session for parents and pre-crawling babies Pe ee i tS ENS 5<br>-encouragement called FUFlings.and Thesesupport groupsto haveover  given300 pre-school -beo'sENS a te meaoe ‘og adSg -*VE=) | Et<br>ftatrailles Inks Yeah We celebrated 25 years of FUFs as -2) raw ert 1) yee<br>this year, with bouncy castles, photos from over the _ MwA Ay) 6 aP 43g<br>years and lots of cake. The church employs someone 4 re ae Penn €<br>for eight hours a week to help run this successful 7 oO ae . on -<br>activity.year, althoughOur numberswe arehavenot upgrownto ourhugelypre-covidover. thelevels , FUFs Team= .<br>yet.<br>Messy Church provides ‘alternative’ church for families who are less keen eee<br>on the formality of Sunday worship or as an introduction or outreach to : Eee 7 ees<br>bring friends and extended family. Its style is relaxed, and activity apt<br>based and appreciated by those who attend. We were back to our pre- a<br>covid numbers and set up, which included games, craft, activities and oo w, “ P,<br>shared tea. Easter Messy we had 142 people (66 adults and 76 ae | uy Wi Ea,<br>children). At the Light Party (31 October) 230 people came (106 adults | =a el 5 tm (es<br>and 124 children), 86 were from FUFs or had been to FUFs in the past, “x ix = | aoe si<br>many came from Space for You (previously known as Eat Lunch) or were i >. az<br>invited by friends. Christmas Messy we had 185 people (84 adults and “in i, a he<br>101 children), with 64 associated with FUFs, and others with Space for 9 e.<br>You and Fusion (our mid-week youth club). We are very grateful for new a e 4ee ie:<br>people who have volunteered with this ministry and find that Messy ~ oe Sort Pi] aa<br>Church links in with our different ministries. 7 eee!<br>The two mid-week youth club events (Fusion) that cater for boys and girls Easter Messy Messy Church<br>**----- End of picture text -----**<br>


The two mid-week youth club events (Fusion) that cater for boys and girls Easter Messy Messy Church aged 10-16, are attended by about 60 young people each week (over the course of a term we link with 

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a. = f about 127 different young people). These young people generally<br>RECARGORUNE,——ict pas as Steal Se as| havass e mbliesno other churchand Bible connection,studyouinput exceptby the forchurc t h .e regular school<br>sab Le ae he a ry All assemblies at local schools came back to being delivered in person<br>‘ wD): Ss 2, a = oS “2 f= during this year. Our Children’s Pastor also started an assembly at a<br>A wo " & T © ‘je Sf new school in one of the local villages, which has been well received.<br>F e i‘ -'C are ; # 10 monthly primary school assemblies take place, and we are glad to<br>ey V, ow . Meee Pe back into a local pre-school bi-monthly. Members of CBC lead<br>& ,. we | ae school assemblies and activities in all the primary and secondary<br>7<br>— (7 wsowes i schools in the area, sometimes in partnership with other groups such as<br>-<br>Fusion Team Open the, Book, and Gideons International. Kingshill School have termly<br>assemblies with each year group, and we have been able to start a<br>group called “Inspire” (previously known as Christian Assembly) with<br>Year 9s at Deer Park School every Friday during tutor time, since March. By the end of the year up to 40<br>young people attended each week. We have provided “It’s Your Move” books to Year 6s transitioning to<br>Secondary School and conducted six interactive sessions at the local schools during July. We also provided<br>the “Next Step” book for parents of those starting school (via FUFs and our links with the local pre-school).<br>1 = Hs : L. = —~=a ><br>| ft “ a ae Ce Fae om fl a * ena<br>In September we held our first “Harvest Experience”. Volunteers hosted different interactive zones and 4<br>schools attended with over 120 children.<br>In December it was great to have 4Front Theatre with oe es \<br>us for their Christmas show. We invited local schools to — —e — — <<br>attend one of two interactive pan-tivity showings, due (os Ea a<br>to snow one school couldn’t make it, but five others did (gi x ba - + le ie<br>and were still able to enjoy the show. ~* jai ; ost Er ££ &<br>One member of the church finished her studies at ea » Raat —-,<br>Moorlands Bible College in July, where she had been = ‘ ait<br>doing her placement with CBC in various ministries. ' 1" gf ¥ f Sh<br>There are a large number of other church activities Harvest Experience<br>which provide a means of friendship, encouragement,<br>practical support and growth in Christian faith to all in<br>**----- End of picture text -----**<br>


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. 

Our regular groups and meetings include monthly curry club, banner making group, craft group called Creative Hands and Hearts, Food for Thought (monthly lunch club for those around during the day), Friends Café (monthly support group for widowers), monthly prayer breakfast, and a weekly prayer meeting. The 

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Time Out Café is open weekly on Wednesday mornings for coffee, cake, and a chat and during 2022 launched on Tuesdays as well, partly as a ‘Warm Space’ in response to the rising cost of heating. 

The church is involved in numerous community activities. Regular activities include Cirencester Pilgrims (football team), ‘Space for You’ (a school holiday initiative that developed from “Eat Lunch”, offering a warm welcome, games, crafts and free café to families who may need some extra support during the holidays), the chaplaincy team at Cirencester Hospital, and our Senior Pastor is a chaplain at the Royal Agricultural University. 

Twice monthly a board games evening called Around the Table has grown during the year and held their first all day games convention in July. 

The Senior Pastor along with another church leader continued the Two Pastors in a Pub podcast which has grown in the year to over 400 downloads each month and featured on BBC Radio Gloucestershire. 

Several members of the Church are involved with Cirencester Home-Start (who have an office in our building), which provides support for parents of young children in the community. The Church continues to assist with the Churn Neighbourhood Project, which provides support in the community. The Cirencester, Fairford and Tetbury Foodbank has its warehouse in the basement of our church building. 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. 


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weaoe a a ae = il We work closely with the other churches in<br>a o wr, a2 2 = OS Ee we Cirencester. A long running joint<br>mpra) eee oi Jeanoi =Mie fp| course,involvement haswhich seeks beento with thehelp those Alphawho wish<br>f<br>‘ f » ae ue ; ¥ eeu ink ae «(fie to explore the Christian Faith. One<br>a. \See on ei Paps im successful Alpha Course ran in 2022 which<br>walVay SS 4. A la {| 7 : : y 7 *a | wasDuringavailable2022 wein sharedperson togetherand online.in a<br>Rte : Good Friday service and Walk of<br>Board Games Group Witness through Cirencester. All the<br>churches in Cirencester worshipped<br>together on Pentecost Sunday with our guest speaker Les Isaac, the founder of Street Pastors. Cirencester<br>Street Pastors wound down during 2022 because of lack of volunteers and improving night-time atmosphere<br>in the town. At Christmas the churches worked together to sing carols in the town centre and to host a carols<br>trail in local park.<br>we ae Ter niga ! 15h a | 2 pests phic he<br>i) Te Fon! ERS<br>a AT oe ee pe & tae<br>ct. ait. ™ ve wy The Alpha Course in Cirencester<br>L} J 7 / Tuesday 24" January 7pm<br>“= 7 ne Cirencester Baptist Church, GL7 1YE<br>Churches Together - Pentecost Service Google: Cirencester Alpha Course<br>**----- End of picture text -----**<br>


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A. { de Our concern is not only for people in the church and the local<br>Tif f- | % a= ry community, but further afield too. We partner with church members<br>ay ol es ; (and former church members) working as missionaries in Japan,<br>= ag ( ‘ » = Lancashire with Teach Beyond, Southeast Asia with Interserve and the<br>ae’ 7 | i oe Middle East with Frontiers. In each case, they continue to be supported<br>Gi te Ad hy through mission agencies as we consider that provides them with a<br>A (pv 8 4 fm: ar #2 more secure support base. We also support missionaries in Bangladesh<br>% RM Ass By SA, through the Baptist Missionary Society World Mission.<br>\\ wee has: ee”<br>EN ee | sac The relationship with pastor Daniel and his churches in Romania has<br>\e _ TRS = continued, particularly as their churches have been especially affected<br>pa \ os (, fe by Covid and the war in<br>Ne = ; m Ukraine.<br>See we Again, CBC collected<br>S— oe “eae shoeboxes for Operation<br>fc, wy » 4 Christmas Child and wee: —. -<br>decorated and filled over JA ————— Fs es<br>+ ae<br>i \ .\ faye & ; 1<br>353 boxes with presents. law «FS a | ae ia<br>The2022 CBCit was buildingbusieris usedthan  veryever  extensivleyand almost  byat full outsidecapacity. groups, and in I[NS bs. 0> Le : > >| aZ a ><br>The Church expresses its part in the wider Christian community by Pn yay bf PN F<br>giving to national and international Christian organisations and & _ % . 2a 1 lag<br>societies with aims and objectives compatible with the church’s own Lc - - BT € ry<br>charitable purpose. ail ui Be " 2 *<br>The trustees have paid due regard to the Charity Commission's SS a<br>guidance on public benefit in deciding what activities the charity Pastor Daniel in Romania sending<br>should undertake. The trustees consider that they have acted in the PRUs.TUE [CMU] TLS<br>public benefit.<br>**----- End of picture text -----**<br>


## (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 2022 was a positive year in the life of the church as we were able to fully return to normal activities. 

Seven people were baptised following a profession of faith in Jesus Christ. We were oleased to welcome 2 new people into church membership. 13 of our members joined our Friends List or resigned from membership; A of our members died during the year. On 31st December 2022 the membership stood at 285, which was a net decrease of 5 over the year. We were delighted that 12 babies were born to families in the church and one couple from the church was married at CBC in 2022. 

The congregation at CBC appears to have continued to grow in numbers during 2022. However, because of the online nature of our services, it will take time to integrate new people into the family of the church. This is welcome and is hopefully also allied to a growth in community, spirituality, and service. 

Towards the end of 2022 those who volunteer within the life of the church numbered at least 150 (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. Many new people have started to volunteer, particularly as there are many new people in the church. 

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oe<br>= r a -) By the end of 2022 the weekly<br>OQ r =a I | [ee Sunday services were being regularly<br>ar |i Pe meme | 26| day attended by over 450 people.<br>z 1) late ie = i | - Although with some online, this is much<br>: tr? gS ane “t “4 | otk me >| harder to measure than in previous<br>q -¥ ¥y- aes : eee: eee years.<br>¢* a Pa . iin a oe di<br>“ almm i!| *% <2F tkoe . ff !)me =Theimportant house groupspart in thein the churchlife of the playchurch. an<br>AN | - > 4\ OB ae rr,-—__4 trainingThe churchandleadershipencouraginghas theinvestedleadersin<br>a7 Be :a ofincreasinglythese groupsimportantwho becomein the pastoral<br>Staff Team Training with Kate Randall ministry of CBC. Leaders of pastoral<br>ministries meet regularly, as a pastoral<br>**----- End of picture text -----**<br>


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, Bourton on the Water Baptist Church, Arlington Baptist Church in Bibury and Winston Baptist Church, helping the congregation with practical matters and finding a way forward for the church and its mission. 

## (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 repay 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 £602,698; £430,309 to the general fund, £172,399 to the restricted funds and £0 to the endowment fund. Our total expenditure was £491,358. This is made up as follows, £368,972 from the general fund, £59,074 from the restricted funds and £63,312 from endowment funds. We ended the year with a surplus of £111,340. 

The net assets held at 31 December 2022 were £2,956,374. Made up of fixed assets of £3,380,993, current assets of £219,126, current liabilities of (£280,055) and long-term liabilities of (£363,691). 

Reserves of £157,479 were held in the general fund; £23,582 in restricted funds; £2,702,990 in the endowment fund; £47,323 in the unrestricted fixed asset fund; £25,000 in the designated building maintenance fund. The Baptists Pension Scheme was subject to a buyout from an insurance provider in July 2022 and therefore no future deficit contributions are payable. 

Our reserves policy states that there should be reserves of three months of normal church General Fund expenditure which is about £99,000. Our reserves at the end of the year now stand at £157,479 which is higher than the required level due to an increase in income throughout the year and two members of staff leaving mid-year, who although we plan to replace, we have not done so yet. We will pay more of our Baptist Union Corporation loan with this excess. We note that the Church has net current liabilities of £60,929 and we seek to continue to generate funds. The key financial risk is generating sufficient funds to repay the long-term loans. 

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

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Significant expenses include the employment of 3 full-time Ministers, and seven other employees 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. 

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: 

- e Governance risks — Constitution adopted 09/12/08 outlining procedures for membership; members’ meetings; appointment, role, responsibility, and removal of charity trustees. 

- e Operational risks — On-going staff and volunteer training; Safeguarding policy and procedures in place (Baptist Union Model Policy); Disclosure & Barring Service (DBS) checks of all staff and volunteers working with young people and vulnerable adults; Health & Safety, Fire and IT policies and Risk Register in place (reviewed & updated regularly); First Aid Courses; Adherence to Baptist Union guidelines and consultation with BU advisors on wide range of issues. 

- e Financial risks — Financial Procedures Policy in place and reviewed regularly. 

- e Generating sufficient funds to repay the long-term loans. 

- e External risks — Regular updates and advice on government policy received from Baptist Union, Evangelical Alliance and Charity Commission. 

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

(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 2022 we held six in person meetings with the option of attending on zoom. 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 bi-monthly 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 

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October/November for inclusion in the budget. Recommendations will be made by the Finance Team and authorised by the Trustees. 

## e) Future Plans for 2023 

- © 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. 

- e To continue to offer online services and gatherings. 

- e To employ a new Associate Pastor 

- e To maximize the opportunities of our church building to welcome and serve the local community and share the gospel. 

- e To start new house groups in Cirencester and other local towns and villages. 

- e To strengthen our supportive relationships with smaller churches in our area - in particular Kings Stanley Baptist Church and Arlington Baptist Church, Bibury 

- e To explore the opportunity for planting a new church — possibly in Tetbury 

- © To make changes to the organisation of our elders and deacons (trustees) to reflect changes in the life of the church. 

- e To strengthen the role of the local cluster of Baptist churches in the Cotswolds. 

- e To grow CBC’s ministry to young people and schools in the area — particularly looking at expanding into some more village schools — and possibly into Cirencester College. 

- e To seek opportunities to serve those in need in the local area. 

- © 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. One lady has started working in the Middle East and we intend to continue to support her. 

- ® To continue to provide a space for part-time interns to work with the church and to grow in their gifts. e To discuss our relationship with Pastor Daniel Antonesei and his churches in Romania. 

- e To welcome and encourage students at the local Royal Agricultural University. 

## (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: 

- e select suitable accounting policies and then apply them consistently; © observe the methods and principles in the Charities SORP 2019 (FRS 102); 

- e make judgements and estimates that are reasonable and prudent; 

- © state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; 

- e prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation. 

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. 

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## 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 person 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 out 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 fund-raise 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. 

## (g) Auditors 

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

## (h) Declaration 


**----- Start of picture text -----**<br>
The trustees declare that they have approved the trustees’ report above.<br>Signed on behalf of he atenty®s trustees:<br>Signatory | J We<br>W/V [pele Wikeny.<br>Position Church Secretary Church Treasurer<br>Date 20/y 14<br>**----- End of picture text -----**<br>


11 



Report of the Independent Auditors to the Trustees of 

## Cirencester Baptist Church 

## Opinion 

We have audited the financial statements of Cirencester Baptist Church (the ‘charity’) for the year ended 31 December 2022 which comprise the Statement of Financial 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: 

- give a true and fair view of the state of the charity's affairs as at 31 December 2022 and of Its Incoming resources and application of resources, for the year then ended; 

- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and 

- have been prepared in accordance with the requirements of the Charities Act 2011. 

## 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 belleve 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 identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concem 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 financtal statements and our Report of the Independent Auditors thereon. 

12 



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 inconslstent 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 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 fo 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 [f, in our opinion: 

- the information given in the Report of the Trustees is inconsistent In any material respect with the financial statements; or 

- sufficient accounting records have not been kept; or 

- the financial statements are not in agreement with the accounting records and returns; or 

- we have not recelved all the information and explanations we require for our audit. 

## 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 financlal 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. 

13 



; 

} Our responsibllities 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 regulattons made or haying affect thereunder. 

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material 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 matertal misstatement when tt exists. Misstatements can crise from fraud or error and are considered materlal tf, Individually or in the aggregate, they could reasonably be expected to Influence the economic decislons of users taken on the basis of these financial statements. 

trregularitles, including fraud, are Instances of non-compliance with laws and regulations. We design procedures In line with our responsibilities, outlined above, to detect material misstatements In respect of Irregularities, Including fraud. The extent to which our procedures are capable of detecting Irregularttles, Including fraud Is detailed below: 

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

We evaluated management's Incentlves and opportunities for fraudulent manlpulatlon of the finandal statements (Including the rlsk of override of controls) and determined that the principal risks were related to revenue recognition, management override, going concem, and management blas in accounting estimates and judgemental areas of the financlal statements such as the depreciation policy and valuation of debtors. Audit procedures performed by the audit engagement team Included: 

; 

: 

- ¢ = discussions with management, Including consideration of known or suspected instances of non-compliance with laws and regulations and fraud; 

- © understanding and review of management's Internal controls designed to prevent ond detect irregutarities, and fraud; 

- e review of the minutes of the Trustees meetings; ® performing analytical procedures to identlfy any unusual or unexpected relationships that might indicate risks of material misstatement due to fraud; 

- « review of the financial statements disclosures and testing to supporting documentation to assess compliance with relevant laws and regulations discussed above; 

- ® enquiring of the Trustees about actual and potential litigation and calms; * testing transactions entered into outside of the normal course of the charlty's business; and 

- ¢ Identifying and testing Journal entries, in particular any [ournal entrles with fraud characteristles such cs journals with round numbers. 

: 

14 

i 



| 

; 

. | . , 

. | | 

There are Inherent Itmitatlons in the audit procedures described above and the further removed non-compllance with laws and regulations is from the events and the transactions reflected in the flnancial statements, the less likely we would become aware of It, Also, the tisk 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 responsibilitles for the audit of the financial statements Is located on the Financial Reporting Councll’s website at www.trc.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 charity'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 charlty’s trustees those matters we are required fo 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 responsibility to anyone other than the charlty and the charity's frustees as c oF our audit work, for this report, or for the opinions we have formed. Sumer Audit 

## Statutory Auditors 

Eligible to act as an auditor in terms of Sectlon 1212 of the Companies Act 2006 

Hermes House 

Fire Fly Avenue 

Swindon 

Wiltshire 

SN2 2GA 

Date: 24 April 2023 

15 

i et 



, 

## Cirencester Baptist Church 

## Statement of Financial Activities 

|Statement of Financial Activities|||||||
|---|---|---|---|---|---|---|
|Year ended 31 December 2022|||||||
||Notes|Unrestricted|Restricted|Endowment|2022|2021|
|Income and endowments|||||||
|from:||£|£|£|£|£|
|Donations and legacies|2|374,324|170,972|0|§45,296|524,861|
|Investments|3|1,422|0|0|1,422|646|
|||375,746|170,972|0|546,717|525,507|
|Income from charitable activities|||||||
|Use of premises||43,733|0|0|43,733|27,212|
|Church Weekend away||0|)|0|0|17,945|
|||43,733|0|)|43,733|45,157|
|Other trading activities|||||||
|Fundraising activities||10,831|1,417|0|12,248|2,309|
|Profit on disposal of fixed<br>assets||0|0|)|0|)|
|Total income||430,309|172,389|6)|602,698|572,973|
|Expenditure on:|||||||
|Charitable Activities - Church|4-5|368,972|59,074|63,312|491,358|509,585|
|Ralsing Funds||fe)|0|)|0|0|
|Total expenditure||368,972|59,074|63,312|491,358|509,585|
|Net Incoming Resources before|||||||
|other adjustments||61,337|113,315|(63,312)|111,340|63,388|
|Transfers Between Funds|11|O|(133,622)|133,622|(0)|0|
|Net Movement in Funds||61,337|(20,307)|70,310|111,340|63,388|
|Reconciliation of funds|||||||
|Total Funds Brought Forward:||168,465|43,889|2,632,680|2,845,034|2,781,646|
|Total Funds Carried Forward||229,802|23,582|2,702,990|2,956,374|2,845,034|
|Allincomeandexpenditurederive|from|continuingoperations|||||



16 



|Balance Sheet 31 December 2022||||||
|---|---|---|---|---|---|
||Notes|2022|2022|2021|2021|
|||£|£|£|£|
|Tangible Fixed Assets|10||3,380,993||3,430,309|
||||3,380,993||3,430,309|
|Current Assets||||||
|Debtors|7|16,957||25,820||
|Bank and Cash||202,169||186,281||
|Total Current Assets||219,126||212,101||
|Current Liabllities - due within one year||||||
|Creditors - Loans|8|266,991||269,445||
|Creditors - General|8|13,064||17,205||
|Tota! Current Liabilities||280,055||286,650||
|Net Current (Liabilities) /Assets|||(60,929)||(74,549)|
|Creditors - due over one year||||||
|Baptist Union Loan|9|309,691||425,858||
|Baptist Building Fund Loan|9|54,000||67,500||
|Other Creditor|||ie)|17,369||
||||(363,691)||(510,727)|
|Total Net Assets|||2,956,374||2,845,034|
|Funded by:||||||
|Endowment (property fund)|11||2,702,990||2,632,680|
|Restricted Funds|11||23,582||43,889|
|Unrestricted Fixed Asset Fund|11||47,323||34,825|
|General Fund|11||157,479||134,673|
|Pension Liability Reserve|11||¢)||(21,033)|
|Designated Building Maintenance Fund|11||25,000||20,000|
|Total Funds|||2,956,374||2,845,034|
|Signed on behalf of the Trustees by:||||||
|CarolineMcKemey—Treasurer<br>jyarteeWhere20/i3|Date|PeterWarrow ~ Church<br>Segreigry<br>!||Date 1g/y-[23||



17 



Statement of Cashflows Year ended 31 December 2022 

|Statement of Cashflows Year ended 31 December|||||
|---|---|---|---|---|
|2022||2022||2021|
||£|||£|
|Cash flows from operating activities:|||||
|Net cash provided by (used in) operating activities||166,938||129,878|
|Cash flows from investing activities:|||||
|Interest income||1,422||646|
|Purchase of tangible fixed assets||(20,351)||(6,987)|
|Proceeds from sale of tangible fixed assets||0||0|
|Net cash provided by (used in) investing activities||(18,930)||(6,341)|
|Cash flows from financing activities|||||
|Repayments of borrowing|(133,622)|||(203,518)|
|Cash inflows from new borrowing||1,500||100,000|
|Net cash provided by financing activities|(132,122)|||(103,518)|
|Change in cash and cash equivalents in the year||15,887||20,020|
|Cash and cash equivalents at the beginning of the year||186,281||166,261|
|Total cash and cash equivalents atthe end ofthe year||202,168||186,281|
|Reconciliation of net movement in funds to net cash flow|from operating activities||||
|||2022||2021|
||£|||&|
|Net income/(expenditure) forthe year||111,340||63,388|
|Adjustments for:|||||
|Depreciation charges||69,406||67,785|
|Loss on disposal of fixed assets||262||0|
|Profit on disposal of fixed assets||0||0|
|Deduct interest Income||(1,422)||(646)|
|(Increase)/Decrease in debtors||8,862||2,000|
|Increase/(Decrease)<br>in creditors||(21,510)||(2,649)|
|Net cash used in operating activities||166,938||129,878|
||||cash||
|Analysis<br>of changes in net debt|at start|of year|= flows|atend of year|
|Cash equivalents||186,281|16,666|202,947|
|Loans falling due within one year|(269,445)||10,610|(280,055)|
|Loans falling due after more than one year|(493,358)||129,667|(363,691)|
|Total|(576,522)||156,942|(440,799)|



18 



Cirencester Baptist Church Notes to the Accounts Year ended 31/12/2022. 

## 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 charlty’s operations and principal activities are glven in the trustees’ annual report. The charity constitutes a public benefit entity as defined by FRS 102. The financta! statements have been prepared In accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts In accordance wlth the Financial Reporting Standard applicable tn the UK and Republic of Ireland issued in October 2019, the Financlal 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 fo 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 vlew’. This departure has invelyed following the Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charltles preparing their accounts in accordance with the Financlal 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 charlty and rounded to the nearest pound. 

The significant accounting policies applied in the preparation of these financial statements are set out below. These policles haye been conslstently applied to all years presented unless otherwise stated. There are no significant areas of judgements or key sources of estimation uncertainty. 

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 materlal uncertainties about the Charity’s ability to continue as G going concern. 

## Legal status 

The charlty Is an unincorporated trust constituted by its governing document. 

- b. Income 

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 setilement 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 activities to ralse 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 charlity’s rlght to recelve 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 received, and the amount can be measured rellably. if entitlement ts 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 reciplent 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 contro! of the charity. 

19 



## 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 basls. All expenses, including support costs and governance costs, are allocated or apportioned to the applicable expenditure headings in the statement of financial activitles. 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. 

- f. Funds 

Unrestricted funds comprise general funds which the church can use for ordinary purposes, and designated funds which the church has allocated to particular purposes. Restricted funds represent monles received or Invited by the church for a specific purpose. The funds may only be expended on the specific purpose for which they were glven. Transfers from the general fund to restricted funds occur when the expenditure on the restricted fund has exceeded the income. 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 fs an employer participating in a penslon scheme known as the Bapitlst 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 particlpating 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. Thls 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 contrlbutions (see note 13). 

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

- h. Current assets 

Amounts owing to the charity at 31st December in respect of fees, rents or other income are shown as debtors less provislons 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. 

- i. Current liabilities 

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

- j. Loans and borrowings Loans and borrowings are Inltlally 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. 

20 



## k. Financial risk management 

The charity has minimal exposure to customer credit risk, liquidity risk and market risk. Please refer to the rlsk section of the trustees’ annual report for Information on how risks are managed. The charity does not have any non-basic financial instruments. 

## l. Tangible fixed assets 

Tanglble fixed assets are recorded at cost and depreciation fs calculated to wrlte off the cost, less estimated residual value over thelr expected useful lives. Flxed assets costing more than £200 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 Bulldings 2% Computers and other electronics 25% Furniture and fittings 10% 

## m. Tax 

The charlty Is an exempt charlty within the meaning of schedule 3 of the Charltles Act 2011 and Is considered to pass the tests set out In Paragraph 1 Schedule 6 Finance Act 2010 and therefore !t meets the definition of a charitable company for UK corporation tax purposes. 

21 




**----- Start of picture text -----**<br>
Notes to the Accounts (continued)<br>2 Donations and legacies Unrestroted Restricted Endowment 2022 2021<br>£ £ £ £ £<br>Offerings & donations 307,367 145,564 Q 452,917 420,166<br>Tax refunds 66,058 26,421 ij 92,379 86,695<br>2aTotal [Donations] donationsfromof £43,797Trustees were recelved from trustees. These donations were afl given without condittons. 374,324 170,972 0 645,286 524,861<br>Trustees also donate via church plate collections. These amounts ara not recorded separately<br>2b Related Party Transactons<br>Total donationa of £17,843 were received from close family mambers of trusteas. These donations were all given without conditions.<br>They may also donate via church plate collections, These amounts are not recorded eaparataly<br>Ths wife of trustee P Trainer ls employed by the church belng responsible for worship and media and earned<br>Theregroas salarywere noofother£3,631related and employersparty transactions,pansion contributions were £363, Employment finished at the end of July.<br>AIncorme from Investments 2022 2021<br>£ £<br>Bank Interest 4,422 646<br>4,422 648<br>4 [Expenditure] on Charitable Activity Unrestricted Restricted Endowment 2022 2021<br>£ £ £ £ £<br>Maistry<br>Total employment coets<br>and expenses 136,478 0 0 135,478 142,007<br>Visiting preachere 2,196 0 i¢] 2,195 4.318<br>437,673 0 0 437,873 444,228<br>Misslon/outreach<br>Grants payable<br>(see note 6) 42,828 23,048 0 68,774 70,316<br>dunlor Church (Youth & Children) 7,758 34 0 7,790 3,384<br>Leader tralning/conferences 2,343 ie} 0 2,343 889<br>Youth Club 0 2,874 0 2,874 631<br>Friday Under 68 6,483 2,238 Q 8,722 7,413<br>Young Adulte/Singles outreach group 0 0 0 0 22<br>Ciren Pilgrims (football team) 4,247 0 ie} 1,247 637<br>Help Fund f°) 8,321 0 8,321 5,384<br>Seeds of Change Women's Conf - to aki Christan mission to woman In the UK 0 1,065 0 1,065 450<br>Space for You - to ald Christan mission in UK ie} AAA 0 AAA AAT<br>Local outreach 0 0 0 0 72<br>Church away weekend & days ie] 0 ie} it] 17,574<br>Establishment 60,858 39,821 a 100,478 107,305<br>Church<br>Heat, light, ing. ate 21,329 0 i¢) 21,320 17,873<br>Repaire/malntenance 18,430 it] 0 18,430 21,182<br>Depreclation 7,694 0 81,812 89,408 67785<br>Logs on dispoeal of Fixed Assets 262 is} 0 262 ie]<br>Thank you cost to Baptists Bulding Fund 0 ie} 1,600 1,600 7,500<br>Interest Payable on Building Loans 0 18,253 0 18,253 17,082<br>Other Costa 20,756 ie} 0 20,768 412,577<br>Manses/coltages<br>Heat, light, Ing. ate 37,711 0 it) 37,711 35,367<br>Repalrs/malntenanca it) Q i] 0 30<br>Support Costa 106,082 18,253 63,312 187,647 180,286<br>Administrator employment costs 29,864 i) 0 20,804 26,017<br>Facllittes Manager amployment costs 27,735 0 0 27,735 27,444<br>Penston - interest cost 396 ie) Oo 395 94<br>Pension - remeasurement 21,482 i ) 21,482 384<br>Equ'pment/audio-visual materials 4,682 1,000 0 6,692 4,927<br>Printing/Stationery 3,482 O° ) 3,462 1,224<br>Subserptions etc 6,768 0 [e} 8,769 6,813<br>Postage/Telaphone 918 0 0 918 2,636<br>Miscellaneous 083 i) 0 983 4,619<br>Govemance Costs<br>Auditors remuneration 8,288 i?) 0 8,288 7,688<br>Other profesetonal fees (Quinquennial Report) 2,935 it) 0 2935 0<br>64,660 41,000 0 65,580 77,878<br>Tota! Charitable Expenditure. 368,872 59,074 63,312 401,358 509,588<br>**----- End of picture text -----**<br>


22 




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Notes to the Accounts (continued)<br>Staff costs and Trustees expenses 2022 2021<br>Salartes - Grogs salary 183,364 169,687<br>Social securty costs - employers national Insurance 7,538 9,116<br>Pension - employers contributions 48,397 18,280<br>Other employee benefits - rent 30,084 28,827<br>Other costs - council tax, water, telephone 7,827 7,147<br>Total : 227,000 232,916<br>The average number of employees during the year was 9 (2021: 8)<br>No employee recelved emoluments In excess of £60,000 (2021 none).<br>Trustees Remuneration<br>The following trustess (who are also classed as key management pereonna!) are remunerated by the church for thelr role as Pastors & Faciities Manager.<br>£ 2022 £ 2022 £ 2022<br>Other<br>employers pansion employee<br>Mr gross salary contributions benefits<br>Ms M Frost 33,514 4,022 13,200<br>Mr P N Trainer Shrubsole 22,00617,418 2,7802,042 10,2626,622<br>Mr S Chandanam 23,336 2,890 :<br>CC:<br>|”SR NK<br>£ 2021 £ 2021 £ 2021<br>Other<br>employers pension emptoyae<br>Mc M Frost . gross salary33,117 contrbutlons3,974 benefits13,200<br>Ma N Shrubsola 26,905 3,300 4,276<br>Mr P Trainer 28,404 3,408 11,352<br>Mr S Chandanam 23,296 2,767 :<br>Other employee benefits Include amounts paki as rent<br>Three Trustees, who are also employees, five In houelng leaged by the church from themselves and thelr spouses<br>No sums were relmbursed to the Truetees for thelr work as Trustees (2021 none)<br>No Trustees wore relmbursed expenses (2021 none)<br>Pension coats<br>Thedefinedchurchcontributionpaye pansionechamecontributlons(see note for11). oneAcoordingly, of Its amploysesdus to the to thenature Baptistof the Pension Scheme, Trustthe Limited,profit and a multjoss employercharge for schemethe penodtreatedrepresents as a the<br>employer contributions payable. The total pension cost to this Schama for the Church was £383 (2021: £615). Stopped in July, now enterad Cessation Event<br>Penskon contributions are pald to defined contribution schemes on behalf of three of the minkstere, youth worker, childran’s worker, tha administrators,<br>theNo contributionsfacilitias managerwere andoutstandingthe pastoralat theworkerBalanca(FUFs).SheetThedate.total pansion costfor the Church to the defined contribution sohomes was £18,034 (2021 £17,845)<br>5 Granta Payabla Unrestricted Restricted Endowment 2022 2021<br>£ £ £ £ £<br>WEBA Home Migsion - to ald Christlan mlesion In the UK 12,800 ie} 0 42,800 12,771<br>BMS Word Mission - to ald Christlan misslon worldwide 6,000 650 . 0 5,650 6,448<br>The Coes - to ald Christian mission ln Germany (Teach Beyond) 13,198 3,878 ) 417,076 30,006<br>DMokiova& J Parker- to aki Christan mission workdwide (Interserve) 6,238 2,820 0 7,858 7,882<br>Pastor Danlel& Romania — to ald- toChristian ald Christlan mssion missionIn RomaniaIn Moldova& Moldova & Romania 4,340ie) 5009 00 1,8400 9,015i]<br>Samarttans Puree - Shosbox Appeal ie) Ka) 0 35 98<br>Jags Price - support as Pastoral Assistant 0 363 0 363 325<br>Tear Fund - to ald Christlan misston and disaster rellef it) 4,497 0 4,497 }<br>Chum Project - to support vulnerable & marginalised famille in Cirancester 250 0 0 260 250<br>Open the Book - to ald Chastlan mission In UK primary schools 600 0 it] 600 600<br>Hattla. Mitchell - to ald misslon In middle east 3,000 1,125 0 4,125 ie)<br>Emma Piigrim - UCCF Relay Worker 500 it) 0 600 0<br>Hortzone Scholarship - to ald tralning for youth workers worldwide 0 5,444 0 6,444 0<br>Other 1,000 4,837 0 5,937 3,021<br>8 of these grants were made to organisations and4 to Individuals 42,628 23,048 0 88,774 70,318<br>§ Auditor's Remuneration 2022 2021<br>£ £<br>Audit of the financlal statements 8,288 7,688<br>8.268 7,688<br>I Debtors 2022 2021<br>£ £<br>Accrued Income 6,812 19,419<br>Prepaid Expenses 3,413 3,200<br>Trade debtor 4,932 3,201<br>16,967 26,820<br>8 Creditors - Due In less than a year 2022 2021<br>£ £<br>Accruals . 13,064 43,639<br>Other creditor 0 3,665<br>Loans due less than one year.<br>BUC malin loan 58,991 69,445<br>BBF Loan 15,000 15,000<br>Member loans 495,000 405,000<br>The calculation for the loan amounts dus In lees than one year |s based on the minimum lavel of repayments required. 280,055 286,649<br>2 Secured jlabilities<br>The Baptst Union Corporation acts as custodian trustees for our bulking, so hakis security for tha main bulding loan,<br>**----- End of picture text -----**<br>


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23 



|Notes to theAccounts (continued)|||||||||
|---|---|---|---|---|---|---|---|---|
|10 Fixed assets<br>Tanalble Fixed assets||Landand Bulkiings<br>Other FixedAssats<br>£<br>£|||2022||£|2021<br>£|
|Costat 1etJanuary2022<br>Addlttone<br>Disposals<br>At316tDecamber2022|||3,700,580<br>3,700,599|62,164<br>20,361<br>(202)<br>82,218||3,762,763<br>20,361<br>(299)<br>3,782,818||3,765,778<br>6,987<br>i<br>3,762,783|
|Accumulated depreciation at1st January 2022<br>Charge Inyear<br>Disposals<br>NET BOOK VALUE<br>At 1stJanuary2022<br>At31st December 2022||305,115<br>27,330<br>332,464<br>264,689<br>61,812<br>7,694<br>69,408<br>87,785<br>37<br>38<br>0<br>586927<br>B08<br>0123<br>392.44<br>3,395,464<br>34,826<br>3,430,300<br>3,491,108<br>3,333,872<br>47,321<br>3,380,803<br>3,430,308|||||||
|Properties|||||||||
|Thesoleproperty owned bytheohurch Is the church bulkding InChesterton Lane,|||||||||
|11Funds<br>Movement<br>Infunda<br>Restricted funds 2022|1,1.2022<br>£|Incoming<br>Resources|Resources<br>Expanded<br>£|£|Tranefere<br>In/(out)|£||34.12.2022<br>£|
|NewBulkding Fund -seeanalysisbelow<br>BMSWork Mission -to ald Chriedan mission wordvide<br>TheCoss~ toaldChristanmission InGermany(TeachBeyond)<br>D &J Parker -toald Christian mleglonworldwide (Interserve)<br>Hattle Mitchell - to ald mission In middle aast||18,026<br>213<br>878<br>200<br>0|137,490<br>1,696<br>2,956<br>2,028<br>1,126|48,253<br>850<br>3,878<br>2,620<br>4,125||(433,622)<br>Q<br>0<br>0<br>0||1,644<br>1,168<br>(46)<br>507<br>0|
|Moldova &Romania - toak Christian migelon In Moldova&Romania||2,862|150|0|||0|3,012|
|Pastor Danlsl— to ald Christan mission InRomania& Moldova<br>Youth Club<br>Seeds ofChangeWomen’sConfarance<br>Jess Price -supportas PastoralAssistant<br>Children’s Ministry<br>Equipment<br>Friday Undar 58Toddlergroup<br>YoungAdultsoutreach group<br>Helpfund -providing financtal supportforthose Inneed<br>MangroveHouse -to aki Christian mlaslontothehomeless<br>Youth mission - to ald Christlan mission workdwide||1,417<br>340<br>2,672<br>25<br>{62)<br>0<br>922<br>634<br>4,148<br>6,260<br>2,033|B85<br>3,747<br>4,578<br>383<br>300<br>4,000<br>2,280<br>]<br>6,339<br>400<br>)|600<br>2,874<br>1,985<br>363<br>31<br>4,000<br>2,239<br>0<br>8,321<br>300<br>0|||0<br>0<br>0<br>0<br>0<br>0<br>0<br>0<br>0<br>0<br>Q|1,802<br>4,223<br>2,287<br>26<br>207),<br>i)<br>963<br>634<br>2,188<br>6,050<br>2,033|
|TearFund -to ald Christian mission and disaster reflef<br>Samartans Puree - Shoebox Appeal<br>Horlzona Scholarshlp -toald training foryouth workersworldwide<br>Space foryou -toald Christian mleslon in UK<br>Children inNeed<br>Ukraine Supportduring crlele<br>AnnaHughes<br>-Missionarywork InUkraine<br>Around theTable -Board gameegroup<br>Total Restricted funds||966<br>6<br>3,844<br>8419<br>i)<br>0<br>0<br>Q<br>43,889|3,541<br>20<br>4,800<br>f°)<br>99<br>3,916<br>113<br>485<br>172,388|4,497<br>35<br>5,444<br>444<br>$9<br>3,918<br>113<br>410<br>69,074||0<br>ie)<br>0<br>fe)<br>0<br>0<br>0<br>id<br>(133,622)||(1)<br>(10)<br>0<br>175<br>0<br>9<br>0<br>65<br>23,582|
|NewBulking Fund - detail||18,026||||||16,026|
|- Donationsand Grants Recalyed<br>- GiftAld<br>~ Incomefrom Fundraising events etc.|||113,995<br>22,078<br>1,417|||||413,986<br>22.078<br>1,447|
|-CapltalRepayments<br>- Loan Interest<br>- Fundraising costs||||18,263||(133,822)||(133,622)<br>(18,253)<br>0|
|-Transfer from General Fund||16,026|137,490|18,263||]<br>(133,622)||0<br>1,841|
|Aj restricted fund assets areheld in cash atbank oron deposit with the BaptistUnkon Corporation.|||||||||
|The purpose ofeach restricted fund le described in tha name given tothefund as Iisted above.|||||||||
|Restricted funda 2021|1.1,2021<br>£|Incoming<br>Resources|Resources<br>Expended<br>£|£|Transfers<br>Inout)|£||31.12.2021<br>£|
|NewBulldingFund -see analystsbelow<br>BMS World Mission - to ald Christan mission wordvdde||23,210<br>0|108,815<br>1,661|47,982<br>1,448|||(98,017)<br>0|16,026<br>213|
|The Coes — to alg Christan mission In Germany (Teach Beyond)||810|18,908|16,940|||0|878|
|D &J Parker - to ald Christian misslon worldwide (Interserve)||421|2,476|2,898|||0|200|
|Moldove & Romania - to ald Christan miselon In Moldova & Romania||2,712|160|0|||0|2,882|
|Pastor Danlel~ to ald Chrsttan mission In Romania &Mokiova||1,317|7,788|7,688|||0|1,417|
|Youth Club<br>SeedsofChangeWomen'sConference<br>Jess Price -supportas PastoralAssistant<br>Chikdren's Ministry<br>Equipment<br>FridayUnder6sToddlergroup<br>YoungAdults outreach group<br>Green Pastures -to ald Christlan mission to thehomaless<br>Help fund - providing financlalsupport<br>forthoseInneed<br>Youth<br>miselon -to aldChristian missionworldwide<br>Taar<br>Fund-to aidChristanmisslonanddisasterreltef<br>Open Doors - toald missionto persecuted Christians<br>Samarttan's Purse -ShosboxAppeal<br>HorizonsScholarehip- to aldtralning foryouthworkersworldwide<br>Clrencester Foodbank -tosupportvulnerableand marginalised familles<br>SpaceforYou- toakdChristan mission in UK<br>Clren Ptigrins- toald Christian mission In sport<br>Total Restricted funds|.|697<br>3,122<br>50<br>0<br>0<br>087<br>655<br>0<br>6,348<br>2,033<br>0<br>0<br>0<br>0<br>0<br>1,066<br>126<br>43,564|683<br>ie}<br>300<br>100<br>1,626<br>953<br>[e}<br>6,260<br>3,184<br>0<br>957<br>41,398<br>103<br>3,844<br>625<br>0<br>ie]<br>455,715|931<br>450<br>325<br>182<br>1,825<br>1,017<br>22<br>0<br>6,384<br>0<br>0<br>1,308<br>08<br>0<br>626<br>447<br>126<br>69,361|||it}<br>0<br>0<br>0<br>ie}<br>0<br>is}<br>0<br>ie}<br>0<br>ie}<br>Ly}<br>0<br>0<br>0<br>0<br>ie)<br>(96,017)|349<br>2,872<br>26<br>(62)<br>Q<br>922<br>634<br>6,250<br>4,148<br>2,033<br>957<br>0<br>5<br>3,844<br>0<br>618<br>Q<br>43,689|
|New Bullding Fund - detall||23,210||||||23,210|
|-Donationsand Grants Received<br>-GiftAld<br>- Income from Fundraising events atc.|||84,501<br>20,005<br>2,160|||||84,681<br>20,095<br>2,159|
|- Capital Repayments||||||(111,017)||(414,047)|
|- Loan Interest||||17,982||||(17,882)|
|- Fundraising costs||||||||0|
|-Transferfrom General Fund|||||||15,000|16,000|
|||23,210|108,815|17,982|||(96,017)|16,028|
|||||||||18,253|



24 



|Notes to the Accounts (continued)<br>Endowment<br>funds 2022|||1.1.2022<br>£|1.1.2022<br>£||lnooming<br>Resources|£|Resources<br>Expended<br>£|Resources<br>Expended<br>£||Transfers<br>31.12.2022<br>Inf{out)<br>£<br>£|Transfers<br>31.12.2022<br>Inf{out)<br>£<br>£|
|---|---|---|---|---|---|---|---|---|---|---|---|---|
|Endowmentfunds.||||2,832,680<br>2,932,680||||2||63,314<br>63,314|(133,622)<br>§133,822)|2,702,990<br>2,702,990|
|Endowment<br>funds 2024|||||||||||||
|:<br>Endowment funds||.|4.1,2021<br>£<br>2,590,074<br>2,500,074|||Incoming<br>Rasourcas|£|Resources<br>Expended<br>£<br>0<br>it]||69,312<br>2|Transfers<br>31.12.2021<br>Inout)<br>£<br>z<br>141,017<br>2,832,680<br>441,0<br>2,632,680||
|Unrestricted<br>funde2022||:|41.1,2022<br>£|||Incoming<br>Reaourcee|£|Resources<br>Expanded<br>£|||Transfers<br>31.12.2022<br>In/(out)<br>£<br>£||
|FixedAsset Fund<br>Gansrat Fund<br>Pension Labtilty<br>Bulkiing Maintenance reserves|||||34,625<br>134,673<br>(21,033)<br>20,000<br>168486||it}<br>430,308<br>0<br>0<br>430,309|||is]<br>368,972<br>0<br>368972|12,408<br>(38,631)<br>21,033<br>6,000.<br>it}|47,323<br>167,479<br>0<br>26,000<br>229802|
|Unrestricted<br>funde2024|||||||||||||
||||1.4.2021<br>£|||Incoming<br>Resources|£|Resources<br>Expended<br>£|||Transfers<br>31.42,2021<br>(n(out)<br>£<br>£||
|FixedAsset Fund<br>General Fund<br>Penson Llabiitty<br>Building Maintenance reserves||ee|||33,614<br>124,049<br>(26,743)<br>415,000<br>1he|||0<br>417,260<br>0<br>it]<br>0SS||i)<br>386,622<br>(4,718)<br>(2)<br>380,003|4,014<br>(21,014)<br>0<br>5,000<br>re<br>45,000|34,825<br>134,673<br>(21,033)<br>20,000<br>168,486,|
|Transfers between funds<br>a transfer of£6,000has been made from ths|general fund to the destynated Buliding Malntenanos Reserve to||||allocate|funds to repalrthe||building.|||||
|The fixed assetfund transfers reflect thenet<br>ofnew assetadditionsless||depreciation duringtheyear.|||||||||||
|Analyalsofnetaasotabetweenfunds2022|||Unrestricted<br>Fund<br>£|||Reetricted<br>Fund<br>£||Endowment<br>Fund<br>£|||2022<br>Total<br>£||
|Fixed assete<br>Current assets<br>Currentabilities<br>Longterm Ilabiities|||||47,323<br>195,544<br>(13,064)<br>9<br>229803|||0<br>23,582<br>9<br>23 382,||3,333,870<br>0<br>(266,881)<br>(383,894)<br>2 702,887|3,380,893<br>219,126<br>(280,055)<br>363,691)<br>2,968,374||
|Analysisofnet assetsbetweenfunda2021|||Unrestricted<br>Fund<br>£|||Restricted<br>Endowment<br>Fund<br>Fund<br>£<br>£|||||2021<br>Total<br>£||
|Fixadassais<br>Current assets<br>Current liabilities<br>Longterm Ikabilities|||||34,825<br>188,212<br>(17,206)<br>17,369)<br>188,483|||o<br>43,680<br>ie)<br>0<br>43,889||3,305,484<br>it)<br>(269,445)<br>(493,358)<br>2,832,880|3,430,300<br>212,101<br>(288,850)<br>(610,727)<br>2,845,034||
|Analysie ofEndowmentfund|||||||||||2022|2021|
||||||||||||£|£|
|Fixed asset -NewChurch Bulkiing, Chesterton Lane, Cirencester|||||||||||3,333,672|3,395,483|
|tong term llablittes:<br>BUC main loan<br>BBF Loan<br>Mambers Loans|||||||||||(366,882)<br>(89,000)<br>(196,000)|(485,303)<br>(82,500)<br>(195,000)|
||||||||||||2,792,990|2,832 880|
|Statement<br>of FinancialActivttiesYearended 31 December2021|||||||||||||
|Incomeandendowmentsfrom:|||||||Unrestricted<br>£|||Restricted<br>£|Endowment|Total 2021<br>£|
|Donationsand legacies<br>Invastnents<br>Income from charitable activities<br>Useofpremises<br>Government grants<br>ChurchWeekendAway<br>FundraleingActivities - New Church Bullding<br>Other<br>Profiton disposal offixedassets<br>TotalIncome||||||||371,305<br>646<br>27,212<br>0<br>17,945<br>150<br>9<br>417,259||163,668<br>0<br>0<br>is}<br>0<br>2,159<br>0<br>it]<br>165,716|0<br>0<br>:<br>0<br>0<br>0<br>it]<br>i}<br>i)<br>0|624,881<br>B46<br>27,212<br>0<br>17,345<br>2,309<br>0<br>if]<br>572,973|
|Expenditure on:|||||||||||||
|ChartableActivites<br>Ralsing Funds||||||||380,911<br>Q||66,060<br>0|61,812<br>0|498,683<br>0|
|Totalexpenditure||||||||380,011||58,960|61,812|499,683|
|NetIncoming Resources beforeother adjustments<br>TransfersBetween Funds||||||||36,347<br>(15,000)||96,363<br>(96,017)|(89,312)<br>111,017|83,388<br>0|
|NetMovement in Funds||||||||24,347||338|41,705|83,388|
|Reconcilation of Funds|||||||||||||
|TotalFundsBroughtForward||||||||147,118||43,553|2,690,076|2,761,646|
|TotalFunds Carried Forward||||||||166,466||43,686|2,632,680|2,845,034|
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Notes to tha Accounts (continued)<br>43 Penslone<br>**----- End of picture text -----**<br>



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The Church Is a particlpating employer the Baptist Pension Scheme (“the Scheme"), which Is a separate legal entity administered bythe Penelon Trustes (Baptist Pension<br>Trust Limited ). The assets of tha Scheme are held separately from those of the Employer and the other participating employers.<br>The Scheme, previously knowm ae the Baptist Ministers’ Panson Fund, started In 1925, but was closed to future accrual of defined benefits on 31 December 2011.<br>Prior to this data the maln benefit provided throuah the Osfined Benefit (DB) Plan was a pension of one elahtath of final minimum pensionable Income<br>for each yeer of penelonable sarvice together with additional penalon In reapect of premlums paki on Pensionable Income In excess of Minimum Pensian income.<br>From January 2012, pension provision Is belng made through the Defined Contributlon (DG) Plan within the Scheme. in general, members pay 8% of [thelr] [Penslonable]<br>Income and employers pay 6% of members’ Penslonable Income Into Individual penston accounts, which are operated and managed on bahalfof the Penston Trustee by<br>Broadstone Corporate Benefits Ltd. in addition, the employer pays a further 4% of Penslonable Income to cover Death In Service Benefits, adminietration costs, and an<br>associated Insurance policy which provides Income protection for Scheme members if they are unable to work dus to long-term Incapacity. This Income protection polkcy<br>hes been Insurad by the Baptist Unlon of Great Britain with Aviva Ltd. [Members of the Basic Section pay reduced contributions of 5% of Penslonable Income, and thelr<br>employers also pay a total of 6%.]<br>The Scheme |s considered to ba a multtemployer scheme as described In Section 28 of FRS102. Because It Is not possible to attribute the Scheme's assets and abilities<br>to specific amployers, the scheme |s accounted for as If the Scheme were a defined contribution scheme.<br>**----- End of picture text -----**<br>


The Ministar(s) (and some members of the church staff) Is/are aligible to joln the Scheme. 

Actuartal valuation as at 31 December 2019 


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|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|A formal valuation|of the DB Plan as at 31|December|2019|was carted|by|a|professtonally qualified Actuary using the|Projected|Unit|Method.|At the valuation date the|
|market value|of the|DB|Plan|assets was|£208|million,|whilst|the|level|of asgets|neaded|to pay benefits was £3161,|giving a|doficlt of £18m|(equivalent|to|a|past service|
|funding|level|of84%), The church|and|the|other participating employers|In the DB Plan are collectlvely responsible for funding this deficit|
|The|key financial|assumptions|underlying|the veluation|were as|follows:|
|Type|of|financtal|assumption|%|pa|
|RPI|prica|Inflation|assumption|3,20|
|CPI|orice|Inflatton|assumption|2.70|
|Minimum|Penstonable|Income|increase|Adjustment|(above|CPI)|0.60|
|Pre retirement|assumed|Investment|returns (qt|yield plus|1.75%|per annum)|2,96|
|policy)Post retlrament(alt Waki assumedplus 0.6%pa)investment|returns{indluding|banafits|matched:|bythe insurance|4.70,|
|Minimum|Penslonable|Income|Increases|(CPI|plus 0.5%)|3.20|
|Deferred|pension|Increases|(based|on|RPI)|
|=|Pre Apr 2000|3.20|
|-|Past|April 2009|2.50|
|Penelon|Increases|
|Based|on|CPI|with|an|annual|floor|of 0% and|annual|cap|of 5%|2.70|
|Mortality Is assumed|In|accordance|with 80%of|the S3NA standard|mortality table.|Future|lmprovements|projected from 2013|In|line wth the “CMI 2018” projections, with|a|
|long|term|rate of improvament of 1.76%pa|for|males and|1,6%pa|for females, with|tha core smocthing|parameter and with|additional|intial|mortality|Improvement|factor|
|A=0.5%.|
|The|next actuarial|valuation|of|[the]|[DB]|[Plan]|[within]|[the][ Scheme]|[will]|[commence]|[In]|[2023]|[to]|[reflect][ the]|[postion]|[as]|[at]|[31]|[Deoamber][ 2022.]|

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Recovery Plan<br>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 deficlency<br>contributions from churches and other employers Involved in the DB Plan. Followng the 2019 valuation a Recovery Plan was signed In Septamber2020 under which<br>defeclency contributions are payable unt June 2026. Thage contbutionswere broadly based on each employersmembership at 316t December 2014 and Increase<br>annually Inne with Increases to Mininum Penstonable incame as defined In the Rules.<br>On 30th June 2022 the Baptist Penslon Scheme signed an agreementwith the insurance company Just Group (“Just*) to secure DB Plan mambers' pansion benefits.<br>Justare now providing financlal backing for ail pensions provided through the Scheme's DB Plan and following this transaction, the Scheme no longer has a shortfall. An<br>updated Recovery plan was then signed In August 2022 under whlch recovery contributions from each participating employer In tha DB Pian reduced to £1 per month from<br>August 2022,<br>Movement In Balance Shest llability<br>Section 28.11A of FRS 102 requires agreed deficit recovery payments to ba recognised ae a liability. The movernent In the provision fs sat out In the table below.<br>Accounting date (year ending): 31 December 2022 31 December 2024<br>Balance sheet liabiilty at year start £21,033 £26,743<br>Minus defictancy contributions pald £2,621 £4,419<br>Intereat cost (recognised In SoFA) £395 £4<br>Actuanal (gains)fosses on re-maasurement of llablfity (recognised In SoFA) £18,807 £385<br>Balance sheet llabiitty at year and £0 £24,033<br>* Comprses any change In agreed deficit racovery plan and changs In assumptions between year-ends.<br>This llabllity represents the present value ofthe deficit contributlons agreed as at the accounting date and hag been vaiied using tha following assumptions set by<br>raferenca to the duration of the deficit recovery payments:<br>Accounting date 31st December 2022 31st December 2021 3ist December 2020<br>Discount rate 6.7% 2.0% 0.4%<br>Future ncregses ip Minimum Penstonable jncome 3.20% 4.1% 3.0%<br>The church has bean adviged that the cost for the churoh to buyout their Pension Schame<br>Nabiliies at 31st December 2022 was approximately zero, 2021 £23,900.<br>**----- End of picture text -----**<br>


Cessation Event Consequent on the departure of the Worship Pastor from the church In July 2022 the church has e oassation event under Section 76 of the Penslons Act 1995. This makes the Church Ilable for the proportion of the overall deficit (assessed by referanca to the cost of securing benefiis by the purchase of annulties )applicable to its previous Ministers who were mombars of the Scheme, At present the church Is paying tha ongoing deficiency contributions outlined above,and the balance sheet lability below Is based on those deficiency contributions. Howsver, the Penslon Scheme Trustee has the right to quantify and seek payment of the debt at any time. 

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