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|| | | Rye Lane Baptist Chapel (RLC) | , | ite RYE LANE CHAPEL Trustees Annual Report and Financial Statements for the year ended 31st December 2022 |
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Rye Lane Baptist Chapel 31st December 2022
Trustees Report for the year ending 31st December 2022
Legal and Administrative Information
Charity registration number
1127757
Date of registration
29th January 2009
Start of financial year
1st January 2022
End of financial year
31st December 2022
Deacons (Trustees) at the year end
Pastor Philip Woolley
Zielda Charles
Norma Facey (Treasurer)
Norma Goldbourne
Rupert Hill
Barry Evans (Church Secretary)
Gabrielle Richards
Pastoral Team (Elders) at the year end
Phyllis Barnet
lan Bertie
Pastor Philip Woolley
Legal status A charity registered with the Charity Commission for England and Wales Governing document Constitution adopted on 20th October 2008
Operating area UK and worldwide
Rye Lane Baptist Chapel 31st December 2022
Legal and Administrative Information continued
Purpose
The principal purpose of the church is the advancement of the Christian faith according to the principles of Baptist denomination. The church also advances education and carries out other charitable purposes in the United Kingdom and other parts of the world. .
Mission Statement
We are a multicultural church, whose mission is to proclaim the Kingdom of God and to demonstrate the principles of the Kingdom to meet the primary needs of the people of Peckham and the wider community.
Correspondence address
59a, Rye Lane, Peckham, London SE15 5EX
Telephone number
0207 639 7098
Email address Office@ryelanechapel.com
Website www.ryelanechapel.com
Bankers
Barclays Bank, Peckham Rye, Leicestershire LE87 2BB
London Baptist Property Board Unit C2, 15 Dock Street, London E1 8JN
Independent Examiner
Rev Alan Clements ACIE, 15 Carleton Road, Great Knowley, Chorley, PR6 8TQ
Pastor
Membership
Rev. Philip Woolley
In 2022 membership was 106 (in 2021 108)
Rye Lane Baptist Chapel 31st December 2022
We have been grateful for the way in which Pastor Phil has continued to settle in and lead us — an ‘under-shepherd’ within God’s leadership of the congregation. Their whole family continues to be an asset and Rachel assists with the younger children in Youth and Children’s ministry and the two older boys have played an important role on the media desk. The media desk has been enhanced with new equipment to enable services to be streamed..
Key events in 2022
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e 2022 was the first year since the first lockdown in March 2020 where we have had no further lockdowns. Nevertheless, some members have continued to access services on Zoom/you-tube.
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e Wecontinued to lose elderly members through various causes, so funerals for dear saints continued to be a regular feature of church life in 2022.
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e We had one baby dedication.
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e There were 10 people baptised on a Sunday morning in November. e Sunday Mornings have been very special times of praise and worship. Usually an evening service is held — much smaller numbers and more participatory.
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e The Youth and Children’s Ministry (YCM) is run well under Sarah Bertie’s leadership — now comprising three classes.
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e In February 2022 we became aware of many asylum seekers housed in a hotel on the Peckham Road. In collaboration with other churches a Monday morning English class was started. Between 10 to 15 asylum seekers attend most weeks. Teas and coffees are provided.
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e The Friday outreach continues to run weekly and around 15 to 20 people attend most weeks. In September 2022 the London City Mission (LCM) assisted us in street preaching associated with the giving out of Good News newspapers. This continues.
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e Life groups/home groups were started in June 2022 and took over from our zoom weekly meetings.
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e Inthe autumn LCM ran an evangelism course entitled ‘Missionary Jesus’ on Friday evenings over 5 weeks. Other churches participated and around 70 regularly came.
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e On 11" November we held a special service of Remembrance incorporating unveiling a plaque to Rev Peter Hetherington, a past minister of Rye Lane Chapel. Two grandchildren of Peter’s attended the service.
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e Special services — Vinesong in February; Good Friday inter-church service in Peckham Square; visiting speakers August 27 and September 3"; Christmas day Visiting speaker; Watchnight service.
Rye Lane Baptist Chapel 31st December 2022
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e Prayer and fasting weeks January, April and September and monthly Tuesday morning prayer meeting started.
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e Avision workshop on September 24 with 54 attendees
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e Limited progress on the Building Committee although meetings continued. e Diaconate (Trustees) meetings occur monthly and a joint Deacons and Pastoral team occur most months.
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e Two other churches continue to use RLC’s building — a Brazilian church on Saturday evening and a Spanish congregation on Sunday afternoon.
The impact of Covid19:
Covid’s impact continues with the loss of most of our very elderly members whom we miss enormously. Deaths amongst our elderly members continued in 2022, with still some from Covid, though from other illnesses as well.
Church giving:
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e More congregants gave online, though some still give via weekly envelope offerings.
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e With gratitude, our finances continued to receive much organisational input from Data Developments (Roger Chester in particular) and we were really grateful for Norma Facey, one of our Deacons continuing with the Treasurer role.
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e We had not had any legacies in 2022 so in certain areas our giving had reduced, though one has been promised though not yet received.
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e Norma and Roger played key roles in enabling us to meet our obligation to put our 2021 financial report on the charity commission website much earlier.
Life groups:
In June 2022, life groups were set up. The lead on these is Ruth Bertie. Some meet weekly in people’s homes, others every two weeks. One such group meets in the church on a Thursday morning. The aim is not yet another meeting but in Pastor’s words ‘to do life together’. It is hoped that they will also function to invite non-Christians and sometimes to share meals together.
Christmas celebrations:
Pastor and his family put on an excellent Christmas lunch for people who would otherwise be on their own and some families for the asylum seeker’s English class. As well as the meal games made the afternoon a real success.
Rye Lane Baptist Chapel 31st December 2022
Vision Workshop 24 September:
The Building Committee looked to the church to provide guidance as to ‘direction of travel’ of the fellowship. Big decisions have to be made on the building options and the committee needed to know where the church felt where God was leading them on where their emphasis should be. The decisions on the building should then fit in with this emphasis and direction of travel. The workshop was held in September but the church has yet to discuss the implications and way forward.
Need to strengthen the Diaconate team:
The diaconate team needs strengthening as there are too few members currently to cover all the necessary roles. It is hoped that deacon’s nominations and elections can be held in the first few months of 2023.
Youth and Children’s Ministry
Encouraging steps forward have been made in 2022 with YCM. It is hoped that running a weeknight youth ministry will be possible during 2023, perhaps with the appointment of a paid youth worker.
Aims for the coming year:
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There were several areas in which it is hoped progress will be made in 2023:
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e Continue to promote discipleship through preaching, teaching, Bible study and prayer
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e Continue to reach out to the community in which we are set with the good news of Jesus
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e Continue to carry out our legal obligations as a Charity.
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e Make significant progress with plans for the church building and achieve clarity in feedback to the church on the options and advantages and disadvantages of each
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e Strengthen our work among children and young people, both those attending on Sunday mornings and weeknight activities
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e Continue with risk assessments when necessary to enable safe use in periods of higher Covid transmission
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e Continue to give support to isolated elderly people e Fill diaconate vacancies to create a full team covering the voluntary workload of diaconate duties
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e Review how our Church meetings occur, encouraging participation of members, but becoming more focused and having shorter meetings
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e Consider, and with the church’s permission, appoint a paid youth worker
Rye Lane Baptist Chapel 31st December 2022
Trustees Responsibilities:
The Charities Act 2011 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 trust for that period. In preparing those financial statements the trustees are required to: a) Select suitable accounting policies and apply them consistently b) Make judgements and estimates that are reasonable and prudent c) Prepare financial statements on the ‘going concern’ basis unless it is inappropriate to presume that the trust will continue in existence
They are also required to keep proper accounting records which disclose with reasonable accuracy at any time, the financial position of the trust. They are also responsible for safeguarding the assets of the trust and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Financial Review
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2022 was the year we came out of the pandemic. As usual the Chapel continued to raise the majority of the funds it needed to carry out its activities from within its own membership and congregation. The remainder came from property rents and room hires. The total of our balance sheet increased from £9,682,827 by £18,823 to £9,701,650. This is a good result as many not for profit organisations have been experiencing deficits during this time. The increase includes £96,397 depreciation expenditure so as this is only a paper figure if this amount is added back then the £18,823 surplus increases to £115,120. The growth in our cash holdings demonstrates this.
Our income growth was due to loose plate collections, backdated gift aid, sizable donations to restricted funds and hall hires. Expenditure increased but not as much as we hoped for. We employed our pastor for a full year and the completion of the 2021 Media Project. Restricted fund expenditure was not as great as planned, however it still remains for use in future years.
We had a one off negative expenditure windfall due to the writing back of the Baptist Union Defined Benefit Pension Scheme liability as it was no longer needed. £120,000 was transferred from the general fund to a reserves policy designated fund to clearly show that the policy is backed by real money.
Three charts follow on the next page which portray the Chapels finances in graphical terms:-
1 Cash income and expenditure, 2 Our cash finances at the year end
3 Cash funds at the year end
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Rye Lane Baptist Chapel 31st December 2022 |
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Cash income and expenditure
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| @ 2022 mm 2021
200,000 |
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150,000
| 100,000 ||
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50,000 |
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Re) e & @ & CY Ss OP & eS
J Ss “S & SS wv y & |
< oo Q |
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|This chart shows the growth in giving is due to gifts, gift aid and donations. |
| Ministry is a full year's costs, Support has reduced due to the removal of the |
pension scheme liability.
Our cash finances at the year end |
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| @ 2022 @ 2021
| 500,000 |
| 400,000 |
|
|300,000 | . |
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| 200,000 | |
| 100,000 |
|(100,000) |
Fund Funds Funds
| Debtors Bank Creditors General Designated Restricted
This chart shows the increase in our bank balance, money transferred from the |
| general fund into the reserves policy fund and the increase in restricted funds due |
| to special donations. |
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Rye Lane Baptist Chapel 31st December 2022
Cash funds at the year end
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2022 M2021
300,000
200,000 fj)
100,000 | |
ef FD SoS FY os & SF & FS FS pS x
SF PF oh é Ss & Eo gs eS ss Po S&S ef
PF SF PS SF FM LPL & WS
ef Ee SF Lo ew ws
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D = Designated fund R = Restricted Fund. The Shop, Flat and 2 Cerise Road end of year balances were transferred to the General Fund at the year end. The Designated Legacy and Famine relief funds were undesignated at the year end and returned to the General fund.
This chart shows how much money is in each of our cash funds at the end of the year. The general fund has been reduced due to the transfer to the reserves policy designated fund. All funds are included but some are so small they do not show.
During 2023 the Chapel will review its cash holdings in light of the FSCS compensation scheme.
The Chapel is heavily dependent on its membership working in all aspects of its activities, most of which run having little or no impact on its expenditure, but nevertheless contribute substantially to the achievement of its objectives.
The detailed financial results for the year, together with the accounting policies adopted are set out in the accompanying financial statements.
The Chapel is a participating employer within the Defined Benefit section of the Baptist Union Pension scheme and made deficit payments to cover the costs of the past service of its employees within the scheme under a recovery plan until 31st July 2022 when the total scheme liability was sold to Just, an investment organisation which removed the Chapels liability. From 1st August 2022 for legal reasons the Chapel continues to pay a monthly nominal £1.
Rye Lane Baptist Chapel 31st December 2022
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Reserves Policy
The Trustees have established a Reserves Policy to enable the chapel to function effectively and meet its obligations in the event of a decline in our income are a major cost.
Having considered the relevant risks of changes in income and expenditure, the trustees have determined that the appropriate level of reserves is in the range of £110,000 to £120,000 which is six months general fund expenditure in a typical year excluding major property works. During 2022 a new reserves policy designated fund was created and £120,000 transferred into it so that the financial aspects of the policy are easily identifiable and safely provided for.
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Going Concern Statement
The accounts of the charity have been prepared on the basis that it is a going concern and will continue its operations in the future. The trustees are aware of no material concerns affecting its future other than the state of the national economy which is beyond their control.
Approved by the Trustees on the 1st February 2023.
Signed on their behalf by the Honorary Treasurer
Norma Facey
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Rye Lane Baptist Chapel 31st December 2022
Charities Act 2011.
Independent Examiner’s Report.
Independent Examiner’s Report to the Rye Lane Baptist Chapel, 59a Rye Lane, London SE1 5EX (Charity Commission number 1127757)
I report on the accounts of the charity for the year ended 31". December 2022 which are set out on pages 121035 of this Report.
Respective responsibilities of the trustees and examiner.
The charity’s trustees are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.
It is my responsibility to :
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examine the accounts under section 145 of the 2011 Act;
follow the procedures laid down in the general Directions given by the Charity
Commissioner under section 145 (5) (b) of the 2011 Act; and
to state whether particular matters have come to my attention.
Basis of the independent examiner’s report.
My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a ‘true and fair view’, and the report is limited to those matters as set out in the statement below.
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Independent examiner’s statement.
In connection with my examination, no other matters has come to my attention :
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- which gives me reasonable cause to believe that in any material respect the requirement to keep accounting records in accordance with section 130 of the 2011 Act; and to prepare accounts which accord with the accounting records and comply with the accounting requirements of the 2011 Act have not been met,
Rye Lane Baptist Chapel 31st December 2022
Charities Act 2011.
Independent Examiner’s Report.
Independent Examiner’s Report to the Rye Lane Baptist Chapel, 59a Rye Lane, London SE1 5EX (Charity Commission number 1127757)
I report on the accounts of the charity for the year ended 31%. December 2022 which are set out on pages 12 to 35 of this Report.
Respective responsibilities of the trustees and examiner.
The charity’s trustees are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.
It is my responsibility to ;
examine the accounts under section 145 of the 2011 Act;
follow the procedures laid down in the general Directions given by the Charity
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Commissioner under section 145 (5) (b) of the 2011 Act; and
to state whether particular matters have come to my attention.
Basis of the independent examiner’s report.
My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a ‘true and fair view’, and the report is limited to those matters as set out in the statement below.
Independent examiner’s statement.
In connection with my examination, no other matters has come to my attention :
- which gives me reasonable cause to believe that in any material respect the requirement to keep accounting records in accordance with section 130 of the 2011 Act; and to prepare accounts which accord with the accounting records and comply with the accounting requirements of the 2011 Act have not been met,
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Rye Lane Baptist Chapel 3ist December 2022
- to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. Signed. Alen, A. Clement if Rev'd. Alan A. Clements. Fellow of the Association of Charity Independent Examiners pae 106 Ae lre “dy 2023 | Rev'd. A. A. Clements MA, ACIB, FCIE.
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15 Carleton Road,
Great Knowley, Chorley, PR6 8TQ
Rye Lane Baptist Chapel 31st December 2022
Here are the details of the 31st December 2022 Annual Financial Statements:-
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|Page|Number|
|The|Financial|Statements|themselves|
|1|-|Statement|Of|Financial|Activity|(the|
|SOFA)|13|
|2|-|Balance|Sheet|14|to|15|
|Table|of|notes|to|the|financial|
|statements|
|1|Accounting|policies|16|to|19|
|2|Analysis|of|Income|and|Expenditure|
|including|notes|9|to|13|20|to|24|
|14|Support|Expenditure|Allocation|25|
|15|Net|Income|for|the|year|26|
|16|Staff|costs|and|trustee|expenses|26|
|17|Tangible|fixed|assets|ar|
|18|Debtors|28|
|19|Bank|and|cash|balances|28|
|20|Creditors|28|
|21|Movement|of|Funds|29|
|22|Analysis|of|net|assets|30|
|23|Pensions|30|to|32|
|24|Comparative|Statement|of|Financial|
|Activities|33|to|34|
|25|Related|charities|34|
|26|Related|party|transactions|34|
|27|Explanation|of funds|34|to|35|
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Individual notes are referenced on the face of the SOFA and Balance Sheet
Rye Lane Baptist Chapel 31st December 2022
| Note | General | Designated | Restricted | Total | PriorYear | |
|---|---|---|---|---|---|---|
| Fund | Funds | Funds | Funds | Funds | ||
| £ | £ | £ | £ | £ | ||
| Statement of financial | ||||||
| activities | ||||||
| 31st December 2022 | ||||||
| Income and endowments from | ||||||
| Donations and legacies | 3 | 113,029 | 5,283 | 49,235 | 167,547 | 105,993 |
| Income from charitable | ||||||
| activities | 4 | 22,053 | 66,552 | 88,605 | 91,442 | |
| Bookstall | 5 | 236 | 236 | |||
| Investment income | 6 | 1,648 | 1,648 | 175 | ||
| Total income | 136,966 | 71,836 | 49,235 | 258,036 | 197,610 | |
| Expenditure on | ||||||
| Raising funds | 7 | 2,093 | 2,093 | 360 | ||
| Ministry | 8 | 42,883 | 42,883 | 25,738 | ||
| Mission | 9 | 7,920 | 3,515 | 11,435 | 16,527 | |
| Property | 10 | 31,013 | 11,246 | 42,259 | 31,896 | |
| Support | 11 | 10,473 | 16,804 | 27,277 | 25,630 | |
| Chapel regeneration | 12 | 16,869 | 16,869 | 19,813 | ||
| Depreciation | 13 | 96,397 | 96,397 | 96,397 | ||
| 94,382 | 11,24€ | 133,585 | 239,213 | 216,361 | ||
| Decrease in pension scheme | ||||||
| liability | (321) | |||||
| Total expenditure | 94,382 | 11,24€ | 133,585 | 239,213 | 216,040 | |
| Net income/expenditure | ||||||
| before | 42,584 | 60,58 | (84,350) | 18,823 | (18,430) | |
| transfers between funds | ||||||
| Transfers in | 64,614 | 120,00C | 744 | 185,358 | 14,400 | |
| Transfers out | (120,744) | (64,614 | (185,358) | (14,400) | ||
| Reconciliation of funds | ||||||
| Total funds brought forward | 298,245 | 4,02E | 9,380,557 | 9,682,827 | 9,701,257 | |
| Totalfundscarriedforward | 284,699 | 120,00C | 9,296,951 | 9,701,650 | 9,682,827 |
Rye Lane Baptist Chapel 31st December 2022
| Last Year | ||||||
|---|---|---|---|---|---|---|
| Note | General | Designated | Restricted | Total | Total | |
| Fund | Funds | Funds | Funds | Funds | ||
| £ | £ | £ | £ | £ | ||
| Balance sheet | ||||||
| Fixed assets | ||||||
| Tangible assets | 17 | 9,226,379 | 9,226,379 | 9,322,776 | ||
| Total fixed assets | 9,226,379 | 9,226,379 | 9,322,776 | |||
| Current assets | ||||||
| Debtors | 18 | 10,851 | 1,571 | 12,422 | 21,123 | |
| Cash at bank and in hand | 19 | 290,134 | 117,643 | 75,805 | 483,582 | 371,543 |
| Total current assets | 300,985 | 119,214 | 75,805 | 496,004 | 392,666 | |
| Liabilities | ||||||
| Creditors: Amounts falling due | ||||||
| within one year | 20 | 16,286 | (786) | 5,233 | 20,733 | (15,026) |
| Net current assets or liabilities | 284,699 | 120,000 | 70,572 | 475,271 | 377,640 | |
| Total assets less current | ||||||
| liabilities | 284,699 | 120,000 | 70,572 | 475,271 | 9,700,416 | |
| Net assets or liabilities | ||||||
| excluding | 284,699 | 120,000 | 70,572 | 475,271 | 9,700,416 | |
| pension scheme liability | ||||||
| Defined benefit scheme asset | ||||||
| or liability | (17,589) | |||||
| Net Assets | 284,699 | 120,000 | 9,296,951 | 9,701,650 | 9,682,827 | |
| The funds of the charity | ||||||
| Restricted income | ||||||
| Bookstall | 147 | 147 | 147 | |||
| Chapel Renovation | 8,671 | 8,671 | 200 | |||
| Freehold Property | 9,226,379 | 9,226,379 | 9,322,776 | |||
| Gifts & Donations | 201 | 201 | 1,500 | |||
| Help in Need | 492 | 492 | 865 | |||
| Legacy | 27,503 | 27,503 | 27,503 | |||
| Media Project 2021 | 11,060 | |||||
| Mission | 2,186 | 2,186 | 2,826 | |||
| UkraineRelief | 10 | 10 |
Rye Lane Baptist Chapel 31st December 2022
:
| Last Year | ||||||
|---|---|---|---|---|---|---|
| Note | General | Designated | Restricted | Total | Total | |
| Fund | Funds | Funds | Funds | Funds | ||
| £ | £ | £ | £ | £ | ||
| Balance sheet | ||||||
| Youth Ministry Project 2021 | 31,362 | 31,362 | 13,680 | |||
| Unrestricted funds | ||||||
| 2 Cerise Road | ||||||
| Famine Relief | 25 | |||||
| Flat 59a | ||||||
| Legacy | 4,000 | |||||
| Reserves Policy | 120,000 | 120,000 | ||||
| Shop | ||||||
| General | 284,699 | 284,699 | 315,834 | |||
| Pension reserve | 0 | (17,589) | ||||
| Fundtotals | 284,699 | 120,000 | 9,296,951 | 9,701,650 | 9,682,827 |
The notes on pages 16 to 35 form an integral part of these accounts. These accounts were approved by the trustees on 1st February 2023 and signed on their behalf by
Ni Woda,; Norma Facey, Treasurer
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ZN_—is_
Barry Evans, Deacon
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Rye Lane Baptist Chapel 31st December 2022
NOTES TO THE ACCOUNTS
YEAR ENDED 31 DECEMBER 2022
- 1 ACCOUNTING POLICIES
a Basis of preparation
The accounts are prepared in accordance with the, Charities Statement of Recommended Practice (Charities SORP 2015), FRS102 and with the Charities Act 2011 which were implemented by the charity from 1%‘ January 2020 and has necessitated restating the 31 December 2019 accounts.
Rye Lane Baptist is a registered charity, no. 1127757_and meets the definition of a public benefit entity under FRS102. Assets and liabilities are initially recognized at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.
b Income recognition
All incoming resources are included in the Statement of Financial Activities 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.
c Donations
Donations are accounted for gross when received. Fixed asset gifts in kind are recognized when receivable and are included at fair value.
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d Legacies
Legacies are accounted for when probate has been completed, the amount of the legacy can be reliably quantified and the conditions of the legacy are within the control of the Chapel.
e Investment Income
Investment income is included in the accounts in the year in which it is receivable.
f Expenditure recognition
All expenditure is accounted for on an accrual's basis. Expenditure is recognized where there is a legal or constructive obligation to make payments to third parties, it is probable that settlement will be required and the amount of the obligation can be measured reliably.
Rye Lane Baptist Chapel 31st December 2022
g Costs of raising funds
The Chapel does not make formal appeals for funds, and expenditure on these items is therefore not material, limited to giving envelopes and payment card processing costs.
h Grants payable
The Chapel makes grants to other organisations whose charitable objects complement its work. They are accounted for when the recipient has been notified of the grant and payment is unconditional.
- i Support costs
Support costs are those that assist the work of the Chapel but do not directly represent charitable activities and include office costs and governance cost. For simplicity's sake support costs are apportioned 80% to ministry and 20% to establishment (property). Most of the management of the Chapel is carried out without charge by volunteers. This intangible cost is not included in the Statement of Financial Activities since there is no measurable cost to the volunteers for their service.
j Fixed Assets
Tangible fixed assets are capitalised if they can be used for more than one year and cost at least £1,000. They are initially recognised at cost, or for donated assets, at a reasonable estimate of their value on receipt.
There is no reliable information available for the cost of the Chapel properties and so on adoption of FRS102, insurance rebuilding valuations have been used as they are deemed to be the worth to the Chapel. The properties are not investment assets so do not have to be held at market value. They are held on trust by the London Baptist Properties Board the terms of which are that if a property is disposed of the proceeds should be restricted to the repair, refurbishment, extension, replacement or rebuilding of the premises. Accordingly, the valuation of the properties has been accounted for in a restricted freehold property fund. The properties are the Chapel, the shop with flat above at 59 Rye Lane, the Manse at 1 Cerise Road and the next door property 2 Cerise Road.
Rye Lane Baptist Chapel 31st December 2022
k Depreciation
Depreciation is provided on all fixed assets, other than freehold land, to write off the cost on a straight-line basis over their expected useful life, at the following rates:
| Freehold land | Nil |
|---|---|
| Buildings | 1% |
| Sanctuary (2003) | 2% |
| Furniture and fittings | 10% |
| Computersandequipment | 33% |
| Investment Assets
Investments are initially stated at cost. Subsequently they are measured at fair value with changes recognized in the Statement of Financial Activities if the shares are publicly traded or their fair value can otherwise be measured reliably. All other investment assets are shown at cost less impairment. At the present time the Chapel has no investment assets.
m Funds
Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.
Designated funds comprise unrestricted funds that have been set aside by the trustees for specific purposes. The aim and use of each designated fund is set out in the notes to the financial statements.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been -aised by the charity for specific purposes. The cost of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements. The principal restricted fund is the freehold property fund where all of the chapel properties held on trust by the London Property Board are accounted for.
Endowment funds represent those assets which must be held permanently by the charity, principally. Income arising on the endowment funds can be used in accordance with the objects of the charity and is included as unrestricted income. Any capital gains or losses arising on the investments form part of the fund. Investment management charges and legal advice relating to the fund are charged against the fund. There are no endowment funds at present.
Rye Lane Baptist Chapel 31st December 2022
n Employee benefits
The charity operates a defined contribution plan for its employees — one in 2022, one part year in 2021. A defined contribution plan is a pension plan under which the charity pays fixed contributions into a separate entity. Once the contributions have been paid the charity has no further payment obligations. The contributions are recognised as an expense when they are due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the charity in an independently administered fund.
Prior to 2012 pension provision was made through multi-employer defined benefit pension plans. Where it is not possible for the charity to obtain sufficient information to enable it to account for a plan as a defined benefit plan, it accounts for the plan as a defined contribution plan.
Where the plan is in deficit and where a charity has agreed, with the plan, to participate in a deficit funding arrangement, the charity recognisesa liability for this obligation. The amount recognised is the net present value of the contributions payable under the agreement that relate to the deficit. The unwinding of the discount is recognised as a finance cost and any other change in the measurement of this liability is expensed to the Statement of Financial Activities
The average number of employees during the year was 2022 one, 2021 one.
No employee received total emoluments in excess of £60,000 during the year.
The Minister acts as one of the Chapel's trustees in accordance with e.g. the Trust deed and receives remuneration of £28,544 and other benefits in respect of his services as Minister, including the provision of manse accommodation owned by the chapel as a Minister was in post.
£nil in total was reimbursed to the Trustees in respect of expenses incurred as Trustees (2021 Enil).
The Chapel pays pension deficit scheme contributions for its previous Minister to the Baptist Ministers Pension Trust Limited, which is a final salary defined benefit scheme, which is not contracted out of the State second pension. The scheme is a multi-employer scheme and it is not possible to identify the assets and liabilities of the scheme which are attributable to the Chapel. Therefore, in accordance with FRS102 Section 28, the scheme is accounted for as a defined contribution scheme. This arrangement ceased on 31st July 2022 when the liability was transferred to the Just insurance company.
Total aggregate remuneration paid to key management personnel during the year was £32,201 (2021 £15,898 nil)
Rye Lane Baptist Chapel 31st December 2022
2 Analysis of Income and Expenditure
| 2 Analysis of Income and Expenditure |
|||||
|---|---|---|---|---|---|
| General | Designated | Restricted | Total | PriorYear | |
| Fund | Funds | Funds | Funds | Funds | |
| £ | £ | £ | £ | £ | |
| Income and endowments from: | |||||
| 3 Donations and legacies | |||||
| Weekly envelopes | 17,337 | 17,337 | 15,498 | ||
| Loose plate collections | 22,537 | 22,537 | 13,031 | ||
| Bank offerings | 42,523 | 42,523 | 41,764 | ||
| Legacies received | 5,283 | 5,283 | |||
| Gift aid | 29,007 | 29,007 | 9,560 | ||
| Chapel regeneration fund Gift aid | 5,000 | 5,000 | |||
| Media fund gift aid | 5,000 | 5,000 | |||
| Youth Ministry fund gift aid | 7,500 | 7,500 | |||
| Ukrainian relieffund donations | 1,213 | 1,213 | |||
| Donations | 805 | 805 | 25,230 | ||
| Chapel regeneration fund | |||||
| donations | 20,340 | 20,340 | |||
| Youth ministry fund donations | 10,182 | 10,182 | |||
| Other | 820 | 820 | 911 | ||
| Donations and legacies totals | 113,029 | 5,283 | 49,235 | 167,547 | 105,994 |
| 4 Income from charitable | |||||
| activities | |||||
| Rent 59a flat | 18,000 | 18,000 | 18,000 | ||
| Funeral directors | 2,740 | 2,740 | 270 | ||
| Shop rent | 38,952 | 38,952 | 38,952 | ||
| Manse - while vacant | 17,685 | ||||
| 2 Cerise Road rent due | 19,200 | 19,200 | 9,600 | ||
| 2 Cerise Road voids | (9,600) | (9,600) | |||
| Spanish church hire | 250 | 250 | |||
| True Sharp VCV church | 2,200 | 2,200 | 1,500 | ||
| Hall hire | 16,113 | 16,113 | 5,435 | ||
| Sanctuary hire | 750 | 750 | 0 | ||
| Income from charitable activities | |||||
| totals | 22,053 | 66,552 | 88,605 | 91,442 |
Rye Lane Baptist Chapel 31st December 2022
2 Analysis of Income and Expenditure
| 2 Analysis of Income and Expenditure |
|||||
|---|---|---|---|---|---|
| General | Designated | Restricted | Total | PriorYear | |
| Fund | Funds | Funds | Funds | Funds | |
| £ | £ | £ | £ | £ | |
| 5 Other trading activities | |||||
| Bookstall | 236 | 236 | |||
| Other trading activities totals | 236 | 236 | |||
| 6 Investment income | |||||
| Bank interest | 1,648 | 1,648 | 175 | ||
| Investment income totals | 1,648 | 1,648 | 175 | ||
| Total income and endowments | |||||
| grand totals | 136,966 | 71,835 | 49,235 | 258,036 | 197,611 |
| Expenditure | |||||
| 7 Raising funds | |||||
| Go Cardless | 331 | 331 | 197 | ||
| Envelope Systems | 163 | ||||
| Gift aid administration | 1,762 | 1,762 | |||
| 2,093 | 2,093 | 360 | |||
| 8 Ministry | |||||
| Ministers stipend | 28,544 | 28,544 | 13,182 | ||
| Ministers DB pension scheme | |||||
| from August 2022 | 5 | 5 | |||
| Minister defined contribution | |||||
| pension scheme | 3,477 | 3,477 | 1,428 | ||
| Ministers expenses | 990 | 990 | 250 | ||
| Ministers mobile phone and travel | 1,704 | 1,704 | |||
| Staff relocation expenses | 2,880 | ||||
| Anniversary and celebrations | 2,182 | ||||
| Visiting speaker | 2,464 | 2,464 | 2,437 | ||
| Council tax manse | 1,589 | 1,589 | 1,978 | ||
| Garden waste manse | 40 | 40 | |||
| Upkeep of services | 448 | 448 | |||
| Insurancemanse | 848 | 848 |
Rye Lane Baptist Chapel 31st December 2022
2 Analysis of Income and Expenditure
| 2 Analysis of IncomeIncome and Expenditure |
||||||
|---|---|---|---|---|---|---|
| General | Designated | Restricted | Total | Prior | Year | |
| Fund | Funds | Funds | Funds | Funds | ||
| £ | £ | £ | £ | £ | ||
| Sunday school and youth ministry | 2,103 | 2,103 | 801 | |||
| Sunday school 200th anniversary | 673 | 673 | ||||
| 42,885 | 42,885 | 25,738 | ||||
| 9 Mission | ||||||
| Mission SupportTeam | 6,000 | 6,000 | 6,025 | |||
| Help in need | 373 | 373 | 135 | |||
| Home mission | 256 | 640 | 896 | 8,235 | ||
| Grant to 2k plus | 0 | 1,470 | ||||
| World Vision | 274 | 274 | 251 | |||
| Help-in-need/community | 190 | 190 | 411 | |||
| Celebration gifts | 1,299 | 1,299 | ||||
| Discipleship programme | 1,200 | 1,200 | ||||
| Ukraine relieffund expenditure | 1,203 | 1,203 | ||||
| 7,920 | 0 | 3,515 | 11,435 | 16,527 | ||
| 10 Property | ||||||
| Contract cleaning | 4,222 | 4,222 | 4,418 | |||
| Gas Chapel | 3,586 | 3,586 | 5,413 | |||
| Gas 2 Cerise | 1,504 | 1,504 | 1,807 | |||
| Electricity Chapel | 1,369 | 1,369 | 157 | |||
| Tenants contribution to 1 Cerise | ||||||
| Road | (1,708) | |||||
| Energy 1 Cerise Road | 567 | |||||
| Electricity 2 Cerise Road |
4,065 | 4,065 | 2,808 | |||
| Gas 59a Flat | 70 | |||||
| Repairs 59a Flat | 790 | 790 | 190 | |||
| Insurance Rye Lane Chapel | 9,090 | 9,090 | 1,515 | |||
| Insurance 2 Cerise Road | 848 | 848 | ||||
| Insurance Shop | 510 | 510 | ||||
| Insurance Flat 59a | 510 | 510 | ||||
| All Buildings water | 123 | 723 | 1,723 | |||
| Chapel repairs | 7,175 | 7,175 | 1,977 | |||
| 2 Cerise Road repairs | 1,390 | 1,390 | 2,000 | |||
| Manserepairs | 2,897 |
Rye Lane Baptist Chapel 31st December 2022
2 Analysis of Income and Expenditure
| 2 Analysis of Income and Expenditure |
||||||
|---|---|---|---|---|---|---|
| General | Designated | Restricted | Total | Prior | Year | |
| Fund | Funds | Funds | Funds | Funds | ||
| £ | £ | £ | £ | z. | ||
| Replacement white goods | 482 | 482 | ||||
| 2 Cerise Road garden waste | 40 | 40 | 40 | |||
| 2 Cerise Road council tax | 1,589 | 1,589 | 1,060 | |||
| Caretaking for hall hires | 1,299 | 1,299 | 1,975 | |||
| Chapel building | 1,780 | |||||
| City Fire Alarm | 2,193 | 2,193 | 2,216 | |||
| Verisure Alarm | 874 | 874 | 991 | |||
| 31,013 | 11,246 | 0 | 42,259 | 31,896 | ||
| 11 Support | ||||||
| Closed Baptist Union DB Pension | ||||||
| Scheme | (15,402) | (15,402) | 79 | |||
| Music leader retainer | 2,640 | 2,640 | 2,200 | |||
| Music - CCLI | 988 | 988 | 1,103 | |||
| Administration | 4,800 | 4,800 | 4,879 | |||
| Training | 197 | 797 | ||||
| Telephone - 8120 | 1,304 | 1,304 | 940 | |||
| Telephone - 7098 | 399 | 399 | 355 | |||
| Heart Internet | 39 | 39 | 31 | |||
| Zoom Licences | 187 | 187 | ||||
| Equipment | 0 | 2,740 | ||||
| Photocopier lease and | ||||||
| consumables | 1,871 | 1,871 | 197 | |||
| Financial management | 1,976 | 1,976 | 4,792 | |||
| Payroll processing costs | 464 | 464 | 232 | |||
| Sundries | 2,796 | 2,796 | 1,723 | |||
| Stationery | 293 | 293 | 221 | |||
| Postage | 102 | 102 | ||||
| Support for weddings, funerals | ||||||
| and services | 950 | 950 | 317 | |||
| Catering | 493 | 493 | ||||
| Subscriptions | 3,872 | 3,872 | 3,972 | |||
| Media Project 2021 | 16,804 | 16,804 | ||||
| Hospitality | 737 | 737 |
Rye Lane Baptist Chapel 31st December 2022
2 Analysis of Income and Expenditure
| 2 Analysis of Income and Expenditure |
||||||
|---|---|---|---|---|---|---|
| General | Designated | Restricted | Total | Prior | Year | |
| Fund | Funds | Funds | Funds | Funds | ||
| £ | £ | £ | £ | £ | ||
| Professional fees - Governance | 400 | 400 | 1,250 | |||
| Music materials | ||||||
| Health and safety | ||||||
| Media day to day | 164 | 164 | ||||
| Microsoft 365 Licence | ||||||
| Safeguarding | 600 | 600 | ||||
| 10,470 | 0 | 16,804 | 27,274 | 25,631 | ||
| 12 Chapel Regeneration | ||||||
| Project | ||||||
| Project Support Officer Self | ||||||
| Employed | 6,763 | 6,763 | 8,712 | |||
| Professional Fees | 9,905 | 9,905 | 11,101 | |||
| Hospitality/Catering | 131 | 131 | ||||
| Training | 70 | 70 | ||||
| 16,869 | 16,869 | 19,813 | ||||
| 13 Depreciation | ||||||
| Depreciation ofsanctuary | ||||||
| renovations | 1,882 | 1,882 | 1,882 | |||
| Freehold property depreciation | 94,515 | 94,515 | 94,515 | |||
| 96,397 | 96,397 | 96,397 | ||||
| ExpenditureGrandTotals | 94,381 | 11,246 | 133,585 | 239,212 | 216,362 |
Rye Lane Baptist Chapel 31st December 2022
2022
2021
14 Support Expenditure Allocation
| Direct | Allocated | Direct | Allocated | |
|---|---|---|---|---|
| Charitable | Support | Charitable | Support | |
| Expenditure | Costs | Expenditure | Costs | |
| £ | £ | £ | £ | |
| Raising funds | 2,093 | 360 | ||
| Ministry | 42,885 | 21,819 | 25,738 | 20,505 |
| Mission | 11,435 | 16,527 | ||
| Properties | 42,259 | 4,091 | 31,896 | 3,845 |
| Chapel regeneration | 16,869 | 1,364 | 19,813 | 1,282 |
| Depreciation | 96,397 | |||
| 115,541 | 27,274 | 190,731 | 25,631 |
In both years support costs were allocated 80% to Ministry, 15% to Properties and 5% to Chapel regeneration.
Rye Lane Baptist Chapel 31st December 2022
| 15 Net Income for the year | 15 Net Income for the year | |||
|---|---|---|---|---|
| 2022 | 2021 | |||
| Net income for | the year is stated | after | ||
| charging/(crediting) | ||||
| Auditors / Independent Examiners | ||||
| remuneration | ||||
| Audit/Independent Examination | 400 | 400 | ||
| Taxation work | ||||
| Other work | ||||
| 16 Staff costs | and trustee expenses | |||
| 2022 | 2021 | |||
| Salaries | ||||
| Gross salary | 28,544 | 13,181 | ||
| Social security | costs | |||
| Employers’ national insurance | - | - | ||
| Pension costs | ||||
| Employers’ pension | contributions | 3,477 | 1,428 | |
| Other costs | ||||
| Council tax, water, telephone, not motor | 2,579 | 1,289 | ||
| 34,600 | 15,898 |
Rye Lane Baptist Chapel 31st December 2022
| 17 Tangible Fixed Assets | |
|---|---|
| (Chapel premises only) | Chapel |
| Premises | |
| £ | |
| Cost | |
| 1 January 2022 | 9,545,608 |
| Additions | |
| Disposal | |
| 31 December 2022 | 9,545,608 |
| Depreciation | |
| 1 January 2022 | (225,501) |
| Charge for the year | (93,728) |
| On disposals | |
| 31 December2022 | (319,229) |
| Net book value | |
| 1 January 2022 | 9,320,107 |
| 31December2022 | 9,226,379 |
Rye Lane Baptist Chapel 31st December 2022
| 18 Debtors | ||
|---|---|---|
| 2022 | 2021 | |
| £ | £ | |
| Accrued income | 9,560 | |
| Prepayments and other debtors | 12,442 | 11,563 |
| 31 December | 12,442 | 21,123 |
| 19 Bank and cash balances | ||
| 2022 | 2021 | |
| £ | £ | |
| 352,62 | 237,32 | |
| Barclays Premier deposit account | 4 | 9 |
| 103,44 | 102,09 | |
| London Baptist Property Board account | 9 | 7 |
| Barclays current account | 27,210 | 32,117 |
| Petty cash | 298 | |
| 483,58 | 371,54 | |
| 31 December | ||
| 20 Creditors | ||
| 2022 | 2021 | |
| £ | £ | |
| Other creditors | 17,989 | 15,026 |
| 31December | 17,989 | 15,026 |
Rye Lane Baptist Chapel 31st December 2022
21 Movement of Funds
| From 1st January 2022 to 31st | From 1st January 2022 to 31st | From 1st January 2022 to 31st | December 2022 | December 2022 | |
|---|---|---|---|---|---|
| Funds | Incoming | Outgoing | Transfers | Funds | |
| b/fwd | Resources | Resources | c/fwd | ||
| £ | £ | 2 | £ | £ | |
| Unrestricted | |||||
| General | 298,245 | 136,965 | (94,381) | (56,130) | 284,699 |
| Sub total | 298,245 | 136,965 | (94,381) | (56,130) | 284,699 |
| Designated | |||||
| 2 Cerise Road | 9,599 | (9,435) | (164) | ||
| Famine Relief | 25 | (25) | |||
| Flat 59a | 18,000 | (1,300) | (16,700) | ||
| Legacy | 4,000 | 5,283 | (9,283) | ||
| Reserves Policy | 120,000 | 120,000 | |||
| Shop | 38,952 | (510) | (38,442) | ||
| Sub total | 4,025 | 71,834 | (11,245) | 55,386 | 120,000 |
| Restricted | |||||
| Bookstall | 147 | 147 | |||
| Chapel Renovation | 200 | 25,340 | (16,869) | 8,671 | |
| Gifts & Donations | 1,500 | (1,299) | 201 | ||
| Help in Need | 865 | (373) | 492 | ||
| Legacy | 27,503 | 27,503 | |||
| Media Project 2021 | 11,060 | 5,000 | (16,804) | 744 | 0 |
| Mission | 2,826 | (640) | 2,186 | ||
| Ukraine Relief | 0 | 1,213 | (1,203) | 10 | |
| Youth Ministry Project 2021 | 13,680 | 17,682 | 31,362 | ||
| Property | 9,322,776 | (96,397) | 9,226,379 | ||
| Sub total | 9,380,557 | 49,235 | (133,585) | 744 | 9,296,951 |
| TotalFunds | 9,682,827 | 258,034 | (239,211) | 0 | 9,701,650 |
Rye Lane Baptist Chapel 31st December 2022
22 Analysis of net assets
----- Start of picture text -----
Fixed Net Total
Current
Assets Assets
£ £ £
Unrestricted funds per balance sheet 284,699 284,699
Designated funds per balance sheet 120,000 120,000
Restricted funds per balance sheet 9,226,379 70,572 9,296,951
9,226,379 475,271 9,701,650
----- End of picture text -----
23 Pensions
The Church is a participating employer of the Baptist Pension Scheme (“the Scheme”), which is a separate legal entity administered by the Pension Trustee (Baptist Pension Trust Limited). The assets of the Scheme are held separately from those of the Employer and the other participating employers.
The Scheme, previously known as the Baptist Ministers’ Pension Fund, started in 1925, but was closed to future accrual of defined benefits on 31 December 2011. Prior to this date the main benefit provided through the Defined Benefit (DB) Plan was a pension of one eightieth of final minimum pensionable income for each year of pensionable service together with additional pension in respect of premiums paid on Pensionable Income in excess of Minimum Pensionable Income.
From January 2012, pension provision is being made through the Defined Contribution (DC) Plan within the Scheme. In general, members pay 8% of their Pensionable Income and employers pay 6% of members’ Pensionable Income into individual pension accounts, which are operated and managed on behalf of the Pension Trustee by Broadstone Corporate Benefits Ltd. In addition, the employer pays a further 4% of
Pensionable Income to cover Death in Service Benefits, administration costs, and an associated insurance policy which provides income protection for Scheme members if they are unable to work due to long-term incapacity. This income protection policy has been insured by the Baptist Union of Great Britain with Aviva Limited. [Members of the Basic Section pay reduced contributions of 5% of Pensionable Income, and their employers also pay a total of 5%.]
The Scheme is considered to be a multi-employer scheme as described in Section 28 of FRS 102. Because it is not possible to attribute the Scheme’s assets and liabilities to specific employers, the scheme is accounted for as if the Scheme were a defined contribution scheme.
The Minister is eligible to join the Scheme.
Actuarial valuation as at 31 December 2019
A formal valuation of the DB Plan as at 31 December 2019 was carried out by a professionally qualified Actuary using the Projected Unit Method. At the valuation date the market value of the DB Plan assets was £298 million, whilst the level of assets needed to pay benefits was £316m, giving a deficit of £18m (equivalent to a past service funding level of 94%). The Church and the other participating employers in the DB Plan are collectively responsible for funding this deficit.
Rye Lane Baptist Chapel 31st December 2022
23 Pensions
| The key financial assumptions underlying the valuation were as follows | The key financial assumptions underlying the valuation were as follows |
|---|---|
| Type ofassumption | % p.a. |
| RPI price inflation assumption | 3.20 |
| CPI price inflation assumption | 2.70 |
| Minimum Pensionable Income Increase Adjustment (above CPI) | 0.50 |
| Pre-retirement assumed investment returns (gilt yield plus 1.75% | 2.98 |
| pa) | |
| Post retirement assumed investment returns (including benefits | 1.70 |
| matched by the insurance policy) (gilt yield plus 0.5% pa) | |
| Minimum Pensionable Income increases (CPI plus 0.5%) | 3.20 |
| Deferred pension increases (based on RPI) | |
| Pre April 2009 | 3.20 |
| Post April 2009 | 2.50 |
| Pension increases | |
| BasedonCPIwithanannualfloorof0%andannualcapof | 2.70 |
5%
Mortality is assumed in accordance with 80% of the S3NA standard mortality table. Future improvements projected from 2013 in line with the “CMI 2019” projection with a long-term rate of improvement of 1.75% p.a. for males and 1.5% p.a. 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.
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. Following the 2019 valuation a Recovery Plan was signed in September 2020 under which deficiency contributions are payable until June 2026. These contributions were broadly based on each employer's membership at 31 December 2014 and increase annually in line with increases to Minimum Pensionable Income as defined in the Rules.
On 30th June 2022 the Baptist Pension Scheme signed an agreement with the insurance company Just Group (“Just”) to secure DB Plan members’ pension benefits. Just are now providing financial backing for all pensions provided through the Scheme’s DB Plan and following this transaction, the Scheme no longer has a shortfall. An updated Recovery plan was then signed in August 2022 under which recovery contributions from each participating employer in the DB Plan reduced to £1 per month from August 2022.
Rye Lane Baptist Chapel 31st December 2022
23 Pensions
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.
| 2022 | 2021 | |
|---|---|---|
| £ | £ | |
| Balance sheet liability at year start | 17,589 | 21,526 |
| Minus deficiency contributions paid | (2,187) | (3,695) |
| Interest cost (recognised in SOFA) | 79 | |
| Remaining change to balance sheet liability* | ||
| (recognised in SoFA) | (15,402) | |
| Balancesheetliabilityatyearend | 0 | 17,589 |
Rye Lane Baptist Chapel 31st December 2022
24 Comparative Statement of
Financial Activities
31st December 2021
| Prior | |||||
|---|---|---|---|---|---|
| General | Designated | Restricted | Total | Year | |
| Fund | Funds | Funds | Funds | Funds | |
| £ | £ | £ | £ | £ | |
| Income from | |||||
| Donations and legacies | 80,893 | 25,100 | 105,993 | 140,091 | |
| Rents | 91,442 | 91,442 | 89,432 | ||
| Bookstall | |||||
| Interest | 175 | 175 | 584 | ||
| Other income | |||||
| Total income | 172,510 | 25,100 | 197,610 | 230,107 | |
| Expenditure on | |||||
| Raising funds | 360 | 360 | 310 | ||
| Charitable activities | |||||
| Ministry | 25,721 | 17 | 25,738 | 2,194 | |
| Mission | 16,392 | 135 | 16,527 | 17,968 | |
| Properties | 31,896 | 31,896 | 111,241 | ||
| Support | 25,630 | 25,630 | 18,923 | ||
| Chapel regeneration | 19,813 | 19,813 | 32,572 | ||
| Depreciation | 96,397 | 96,397 | |||
| Decrease in pension scheme liability | |||||
| Total expenditure | 119,812 | 96,549 | 216,361 | 183,208 | |
| Net income/expenditure before transfers | 52,698 | (71,449) | (18,751) | 46,899 | |
| Transfers between funds | |||||
| Transfers in | 7,200 | 7,200 | 14,400 | 150,392 | |
| Transfers out | (7,200) | (7,200) | (14,400) | (150,392) | |
| Other recognised gains/losses | |||||
| Actuarial gains/(losses) on defined | |||||
| benefit | 321 | 321 | 10,765 |
pension schemes
Rye Lane Baptist Chapel 31st December 2022
24 Comparative Statement of
Financial Activities
31st December 2021
| Prior | |||||
|---|---|---|---|---|---|
| General | Designated | Restricted | Total | Year | |
| Fund | Funds | Funds | Funds | Funds | |
| £ | £ | £ | £ | £ | |
| Net movement in funds | 45,819 | 0 | (64,249) | (18,430) | 57,664 |
| Reconciliation offunds | |||||
| Total funds b/fwd | 252,426 | 4,025 | 9,444,806 | 9,701,257 | 9,643,593 |
| Totalfundsc/fwd | 298,245 | 4,025 | 9,380,557 | 9,682,827 | 9,701,257 |
25 Related Charities
The custodian Trustee of the chapel is the Baptist Union Corporation Limited which is charity number 249635, and which is controlled by the Baptist Union Council. The chapel is also a member of the Baptist Union of Great Britain, and the London Baptist Association.
There were no transactions between the chapel and its related charities during the year.
26 Related Party Transactions
During the year and in the previous year none of the trustees, apart from the minister, received any remuneration for services provided to the chapel on a contractual basis. During 2022 7 of them donated £39,543 to the chapel (2021 5 and £6,939).
27 Explanation of funds and their uses
Unrestricted
General - Day to day operating fund
Designated
2 Cerise Road Created in 2022 to separate out the properties transactions and cleared to general at year end
Flat 59a Created in 2022 to separate out the properties transactions and cleared to general at year end
Reserves Policy Created in 2022 to hold our reserves policy funds
Shop Created in 2022 to separate out the properties transactions and cleared to general at year end
Rye Lane Baptist Chapel 31st December 2022
27 Explanation of funds and their uses
Restricted
Bookstall Spending out in 2023
,
Chapel Renovation Created in 2021 to separate out the Chapel Renovation project transactions. This is along term project.
Gifts & Donations Spending out in 2023 Help in Need Spending out in 2023 Legacy Spending out in 2023 Media Project 2021 Completed in 2022 Mission Spending out in 2023 Ukraine Relief Spending out in 2023
Youth Ministry Project 2021 Created in 2021 to separate out the Youth Ministry project transactions.
The project has yet to commence due to difficulties in recruiting a project worker
Property was created in 2020 to account for the Chapels freehold properties held in trust by the London Baptist Property Board.