Docusign En¥ÈlopÈ ID". 595CCA85-9F99-44CO-9279-A3CAA105AC20 ENFIELD BAPTIST CHURCH Charity Registration Number: 1127855 31 December 2022 Annual Report and Financial Statements www. enfieldbaptistchurch.org.uk Tandem Accounting Chartered Accountancs 17 Heaihville Road London N19 3AL
Docusign En¥ÈlopÈ ID". 595CCA85-9F99-44CO-9279-A3CAA105AC20 Enfield Baptist Church ENFIELD gADTIST CHURCH Annual Report and Financial Statements 2022 Content5 Page Legal and administrative information Annual Report of the Trustees Independent Examiner's report to the Trustees Statement of financial activities Balance sheet Notes to the financial statements
Docusign En¥ÈlopÈ ID". 595CCA85-9F99-44CO-9279-A3CAA105AC20 ENFIELD BAPTIST CHURCH ENFIELD BAPTIST CHURCH Legal & Administrative Information For the year ended 31 December 2022 Charity Name Charity number Enlield Baptist Church. The Church was established 1867. 11278S5. The church wa5 fortnally regiscered wirh the Ch3riry Commission on 3 February 2009. Affiliations The church is a tnember of the Biptisr Union of Great Britain. the London 8aptisc Association and che Evangelical Alliance. Principal Addres5 Enfield Baptist Church, Cecil Road, Enlield, London EN2 6TG The Church's governing documenis are.. The Church ConstituEion adopted 20 November 2008., The Church Trust Deed. dated 20 july 1926 governing the chureh building and outlying properry at Cecil Road EN2 6TG,. The Trust Deeds dated March 2016 for the Melling Drive properly and lan 2021 for the Uvedale property,. and The Legacy governing che use of rhe Older People's Fund las varied by che Chariiy Comrni5sion Scheme of 14 April 20101. Governing Document5 Trustees The Trustees who served during the year or who were serving at the dace of Ihis reporc were= London Bipt15t Property Board Ltd. 235 Shafiesbury Avenue. London WC2H 8£P Recired 31 August 2022 Appointed I September 2022 Senior Minister Rev Arnanda james Rev Andy Morgan Deacons Michelle Briers MarEin Cody Lesley Spiers CarolinÈ Hinch Graeme Allen Linda Clarke Amen Te5fay Frederica Hunier Li2 Marnham Dennis Muriu Kate Solomon Alex Biggs Pete Desmond Tim McBryan Re-Elected 28 March 2022 Retired 28 March 2022 Retired 28 March 2022 Appointed 28 March 2022 Appointed 28 March 2022 Appoinred 28 March 2022 Re-Elected 28 March 2022 Retired 28 March 2022 Re-Elected 28 March 2022 Key Management Those in charge ol planning, directing. controlling. running and operaiing rhe Charity. including those Personnel member5 of sralf who are rhe senior man3gement personnel to whom the trustees have delegaied 518nilicant aurhoriry or responsibility In the day-to-day running of the charity, are rhe Managing Trustees. Bankers Barclays Bank plc Enfield Town Branch 20 The Town Enfield Middlesex EN2 6LS Independent Examiners Griffin Scc)ne Moscrop & Co 21.27 Lamb's Conduit Street London WC I N 3GS
Docusign En¥ÈlopÈ ID". 595CCA85-9F99-44CO-9279-A3CAA105AC20 ENFIELD BAPTIST CHURCH ENFIELD BAPTlf T CHURCH Legal & Administrative Information For the year ended 31 December 2022 Accountants john Helm ACA Tandem Accounting 17 Heathville Road London N19 3AL
Docusign En¥ÈlopÈ ID". 595CCA85-9F99-44CO-9279-A3CAA105AC20 ENFIELD BAPTIST CHURCH ENFIELD 3APTIST CHURCH Annual Report of the Trustees For the year ended 31 December 2022 The Trusiees submic cheir annual report and the financial statements of Enlield Baptist Church I'the Church") for the year ended 31 Decernber 2022. The financial stacements have been prepared In Ihe format prescribed by the Stacement of Recommended PracEice.' Accounting and Reporcirig by Charities ISORP2019 IFKS10211 and rhe Financial Reporting Scandard 102. The legal and admini5rrative information set out earlier in this documen¢ forms part of this report. Structure. Governance & Management The Charity Is governed by an Approved Governing Document. Members of che Church are accepted In accordance with the Constitution which requires them 10 be or to have been publicly b3Ptiseé on the prole55ion of faith in jesus ChrisL or following other mode5 of baptism to renew their public profession of faith in jesu5 Christ The Church Members Meeting normally takes place six rimes per year and has re5pon51biliry for the overall policy of the church. In accordance wirh the Constitution. members appoin¢ up cts a tnaximutll of twelve Charity Truscees (including those with respon51bility for finance 2nd governance). who rogether with the Senior Nin15ter (who Is also app05nted by the Mèmbersl. are re5pon5ible for the day 10 day running of the Church's work and wicne5S. and the financial and legal aspect5 of the charity. All members are encouraged ¢0 take an appropriate part In the spiritual and practical ta5k5 involved In rhe lurEherance ol the ch3ritable objeccive. Relevant maciers tHay be 5ubmit¢ed to the Church Meeting by the Chariiy TrusEees for guidante, or may be raised by members in 2 Church Meering for further ton51dera¢ion by the Tru5tee5. Though rhe Conscitution permits dec1510n5 to be rn3de at Church Meeting5 by appropriate majorities. the Church 5eek5 to work by consensus wherever p0551ble. The Holding Trusiee is responsible for holding the Church s land and buildings on Erusr lor the benefit ol the Church and ensuring that the use of che land and buildings 15 a5 env15aged by the governing documenES. The holding trusree which is the London Bapvst Property Board 15 appointed by the members without fixed term and can be removed by the members. Risk Management The Church'5 primary concern and objective is che glory of God. Whilsi It Is the Church'5 policy to trust wholly In Ihe Lord ¢ha¢ He will work out His purpose to th15 end. rhe Church also acknowledges thac It has a re5pon5ibiliry. boih as Individual members and a5 a body of members. for the Identification and proper management ol risks faced by the church in achieving Irs primary aim. The Tru5Eees have therefore assessed che major ri5k5 to which the church Is exposed. In parcicular those relating to the specific operaEional areas ol the charity, its investments and irs finances. The Trustees believe that, by rnon5toring reserve leve15. by ensuring thh¢ conLro15 exist over key financial sy5tem5, and by examiriing the operational risks faced by the church, chey have e5tab115hed effective systems and procedures ¢0 rnitigate those risks. Objectives and Activides The principal purpose ol the chariry Is the advancement of the Christ13n faith according ro the scriprures and according to the principles of Ehe Bapust Union to Include the advancement of educaiion, commvnity service and such orher general charitable purposes In such parts ol the United Kingdom and rhe world as thè ChuTth shall deiermine. In order to achieve the principal objecEive which is set out above, the Church provides a variety of activities both to its membership and to the community generally. The aim is to show che love ol Jesu5 Christ In both word and deed and ¢0 bring people Inro a closer relaiionship with Him as living Lord. Ar rhe beginning of 2022 there wa5 Still some disruption from COVID-19 bur by Ehe end of che year things had returned to normal. Further Inltsrmation about worship at Enfield Bapt15t Church, and derails of all aciiviiies for all age groups are published on our web51te at.. li=IPi-.lJWWw e5:'.Ic- -Ib.
Docusign En¥ÈlopÈ ID". 595CCA85-9F99-44CO-9279-A3CAA105AC20 ENFIELD BAPTIST CHURCH ENFIELD BAPTIST CHURCH Annual Report of the Trustees For the year ended 31 December 2022 Worship on Sundays As a church farnily, we Meet together to.. Worsh1p God.. with a commitment to regular worship together and to personal devotion. Support each other.. rhrough teaching. encouraging. helping. 2nd inspiring one 3norher to lead Christ-like lives. Reach ouc 10 Ehe community around us.. by expressing God's love ro 311 through practical service and by proclaiming Chrisiian rruch so that jesus may be known as Lord. Central to the work and witness of the Church is our Sunday morning worship at l 0.30am. In normal ClrcutllsnCes we would welcotne between 120 and 170 people ol all ages on mosi Sundays. Spectrum. on the first Sunday ol each month. Is an all age Ifrotn the youngest to the oldestl service which includes al150rts of activities and song5. On the third Sunday morning of the month. we celebrate Communion. Our children are part of our pra15e and worship. and stay with us in the main servite ftsr the Iirsc twenty minutes. After this. they disperse to the various age group5 of Ablaze. the children 5 min15try ol EBC. Ablaze caters for those aged O-16 years and is co-ordinaied and led by the Children and Youch Worker and many volunteers. During the week Church 15 about groups of people 50ining Cogether co follow jesus. We run a variety ol acriviries and meetings lor all age5 to provide opportunities for thss to happen. Throughout the week, we have regular contact with around.. 105 children lunder the age of I I I., 14young people I 11-181.. and 352 adults. The Church operates systems ro ensure that all people working with Chldren and vulrierydble adults are appropri3Eely vetied WiEh regard to the Disclosure and Barring Service IDBSI. It has a150 appointed a Safegu3rding Trustee in addition to the Designaied Safeguarding person. 2.10. The Charity Trustees have read the Charity Cornmis5ion guidance on public benefit and are sarisfied that the accivities outlined in this report clearly demonstrate thai the Church ig providing a benelir Eo the public. Pastoral care AfLer morning worship. we offer one-to-one praxer minisrry. 2.12. Operation Barnaba5 (Op Bl is our pasroral care programme which Includes providing transport for hospital appointments, and meals lor new tnurns and convalescing patients. Op B cell group5 form a pastoral conracr scheme lor all those who regularly atrend the church. Their purpose is tts build friendship and offer Support io help people feel pan of the Church community and to avoid ' getting losc" in a bigger church. Church Activities in addition to Sunday worshTrp 2.13. About 80 people regularly attend one of the Church housegroups to study the Bible and to pray. 2.14. A large group from the Church attended Spring Harvest in Skegne5s for 3 great time of teaching and Fellowship. 2.15. The 'Guild' is a rhriving group ol seniors which meets weekly and has about 60 -70 members. This includes many members from outside the Church.. some of whom now attend Church services. It proyides a very varied prtsgramme of inreresring ralk5 and entertaintnent, including spiritual and secular item5.' Outings to £he theatre and an annual ho5iday to Easrbourne.
Docusign En¥ÈlopÈ ID". 595CCA85-9F99-44CO-9279-A3CAA105AC20 ENFIELD BAPTIST CHURCH ENFIELD BAPTICT CHURCH Annual Report of the Trustees For the year ended 31 December 2022 Community Outreach and Mission 2.16. We take Seriously the challenge to make jesu5 known throughout our cotnrnunity, country, and rhÈ world. Our building is open lor community use. We have well estab115hed relationships wirh community groups and other congregation5 who make good use of our premises on a regular basis. We also welcorne school group5 who learn abotst what ir mean5 ro be a Christian and explore 50rne ol the Specific Bapt15t traditions. The Bapvsrry Is always ol particular inLerest and fascination. Achievements and Performance We began to Prepa for the deparEure in 2022 of our long-serving Senior Mini5rer who announced that She ha5 prayerfully considered her nexr step5 and plan5 to pass the baton to a new generation ol church leadership. She has left us wirh a cremendous legacy and will be greatly tn15sed. Ic has been invaluable and extremely beneficial to embark on this transiiion with our rninister Still In p05t rather Ihan lace an irtterregnum. On our behalf. She worked WlEh the Regional Minister ol the Bapt15t Union and a small ieam ol deacons ro srarr the ministerial search process. In earSy 2022. following a special church tneeiing, we invited a new rniniscer the Rev Andy Morgan EO Eake up Ehe p05r. He accepted and joined us in September 2022. Our seniors worker works wiih senior members of the congregation in the following areas.. visics ro GPS, hospiials and shopping and the offer of other practical asslstance.. home v151t5 to lonely and isolared seniors and those struggling with age related problems.. the CAMEO I'come and meet each other I lunch cSub which includes a free freshly cooked hoc meal and e55ential cornpinionship. Some guests are a150 now attending other EBC acoviries. This group has increased, over the last year. to 18 gue5L5. Members ol EBC congregation generously provide the main course and the dessert.. Connec[, a coffee morning lor two local c3re home5. offers friendship. conversation and tnUSlC 15 well as genEle acrivirie5 co promoce recollection of nost318ia and engagement.. and Painting loi. Ploasui. gi-oup for senior5 who enjoy ai-¢ and relaxation September 2022. Our senior worker's main focus for all ol her forms of outreach is to Show thar our elder members ol society are very much loved and vaSued. introduced a5 a new wenture from We appointed a paid part-time family suppori worker in November 2021. She had already begun the work as a volunteer and begun to launch the projects. Her hard work and enthusiasm are already having an impact on our contacts In the cotnmunity and the demand for this area ol work is growing rapidSy. Projec¢5 include.. Circle of Supporr, a group lor Ehose who are parenting alone. Little Buds for MumslD3ds with babies. This runs over two sessions one for new bornlpre-walkers and rhe second for early walkers uncil the age ol rwo. Kidsmatter. a six-week parenting programme. She runs this with supporc from Ihe children and youth worker. AE Ihe Same rime. She is building relations with Social Service5 and schools for the next run ol the programrne. In all these accivicies, she ukes every opponunity to menrion church to Ihe parents. She conrinues ro plan occasional family lunches afEer a church service and waEche5 our lor new families coming inco church on a Sunday morning. Our children and youch worker h15 continued to.. develop the popular Acorn toddler group which requires a booking Sys co keep nurnbers tnanageLble,' accend Monday coffee mornings.. run Blast for School years 4-6 involving Bible storie5 and fvn.. run Disciple. a di5CUS5ion-ba5ed Bible study lor school year 7 upwards. This is 5rnaller than it has been in recent year5 but ha5 about 13 regular attendees., and
Docusign En¥ÈlopÈ ID". 595CCA85-9F99-44CO-9279-A3CAA105AC20 ENFIELD BAPTIST CHURCH ENFIELD BAPTIST CHURCH Annual Report of the Trustees For the year ended 31 December 2022 offer regular socials including the popular waffles and Qu353r. In the summer of 2022, there are plans to take the youth to the Youthscape 'SaEellires' camp. A new group Tots on Wheels has been launched, offering 2-4 year-olds the freedom to Use lors of ride-on toys wichout ocher toys being In the way. This is proving very popular although for safety reasons numbers have 10 be kept small. The main method ol totnmunication with the Church is now Grapevine, an on-line monthly update including prayer poinis, deEails of lorthcoming worship. and a focus on global. national and local issues, as well as church events. Hard copies are printed lor those nor on email. AS at 31 December 2022, EBC had 154 members. We continue 10 have a substant5al number of comrnitted 3nd regular attenders who have chosen not to be in formal rnembership at the present time. Inforrnal Information session5 3re held from time to time for rhose considering mernber5hip. 4. The Impact of COVID-19 A5 noted above and In our previous annual reports, COVID_19 continued to have 50rne itllpact on the life of the Church but by the middle ol rhe year most aspecES of our daily lives and the work of the church In 2022 had returned to normal. The financial impact of COVID-19, alchough negaiive, has proved to be 5UStainable through the continued faithful giving by member5 and those artending. With the resumpuon of normal activity and freedom to open 2nd operate the church as normal. lottings incomo also recovered during the year. Th15 has been tremendously helpful. but we continue to be prud&nL maintaining a srrong lovel of reserves. As such, the Trustees reain confident In the immediate and medium term financial outlook for the church and with the a5sisrance ol Ehe Finance Team, continue to closely monitor the ongoing financial OUElook for EBC. Financial Revièw The church's main source5 01 funding are the froowill offerings of church members and orhers in 2tEendanco ar church services. and income from hiring OUE the church's premises and facilities. Many thank5 10 our rnember5 and attendees for Iheir conrinued support to the Church which Is greacly appreciated. 5.1 Firtarteral Activity and Financial Position The Statement of Financial Ac¢ivi¢ie5 and Balance Sheet can be found on pages I l and 12 respectively. The Church's reserves increased by £1 1.561 during the year 12021 decreased by £105,075). The balance sheet shows total net assecs of £4.030.95712021.. £4.019.3961. Included in total fund5 are amounts totalling £362.215 12021.. £356.7251 which are restricted. These rnonie5 have either been raised for. and their use restricted to. specific purposes. or they cornprise donations subject to donor-irnposed conditions. Full derails ol these restricted funds can be found In note 15 to the account5 together with an analysis of movement5 in the year. The financial highs and lows in our income and expenditure strearns during 2022 are as follows.. Unre5triaed general fund5 ITicome reached £201 k in 2022 compared with £213k In 2021. After the notable recovery to £35k in 2021. income from letEing the church premises saw anoiher rise 10 £42k in 2022 but still lagging the pre- pandemic norm of c£50k p.a. Overall unrestricied expenditure w15 £195k in 2022 as compared to £298k In 2021. The tDain factor for rhe decrease wa5 che renovation works carried out on the new Manse In Uvedale Road la total of £88k incurred in 20211. Therefore. Including depreciation of £3k, the overall general fund (inclusive of designated lund51 recorded a surplu5 of £6K in 2022 cornpared LO delicit of £95k in 2021. Mission giving in 2022 was higher at £26k compared to £24k in 2021. We continue to supporr Home M15sion, BMS. the Erifield Churches Debts Centre la CAP Initiarivel and other cause5. M15sion Giving includes the l Oytr cithe of all unre5trieted Income EBC gives co charitable organisarions.
Docusign En¥ÈlopÈ ID". 595CCA85-9F99-44CO-9279-A3CAA105AC20 ENFIELD BAPTIST CHURCH ENFIELD BAPTIST CHURCH Annual Report of the Trustees For the year ended 31 December 2022 The Church continues to operate a ptslicy of financial prudence ro ensure funds received are spent in the most appropriate manner, and in line wirh its principal charitable objectives. The Church has appropriate authorisatiori and payment procedures to minimise the rI5k ol tn15appropriation of funds. The Finance Team supports the leadership and Church by 15suing regular Iinaneial summaries reporcing at church meetings with explanation on variation5 against che approved budge¢ where appropriate. 5.2 Reserve5 Policy The Trustees do not have a formal reserves policy buc, with the as515tance ol the Finanee Team. aim to maintain reserves equacing ro betweeii 3 and 6 months expenditure. As at 31 December 2022 imrnedia¢ely available unresLricted funds being cash at bank of £160k equated to 82Yg of unrestricted annual expenditure In 2022 01 £195k which Lhe tru5tee5 feel is adequate based on the activitie5 of the chariry. 5.3 Investment Policy The Trustees do not have a formal Invescrnent polio but note rhe following". Placement of Cash - The main account for operacional cash for Lhe church ig wich Barclays Bank. rhe remaining cash Is held In deposit accounts across 5 different providers, ensuring mogt of the cash is proiected under the Financial Services Cotnpen5ation Scheme IFSCSI and to poienrially Increase InEeresc income consiscenE With salÈEy. DÈposirs 2re also held with che Bapcist Union and Ihe LBPB. Overall inreresi rates are higher and adequaie funds are Imtnediately available. Investment in Property- In 2016 The Church invested in a property 1136 Melling Drivel as part of the Buildings Fund ro protect the value of the fund5 held through asset value and net rental Income from the property. During 2021 the church voted to purchase a new Manse. Ila Uvedale Road), by the sale of the ex15ting Manse 1183 Tenniswood Road) and rhe transfer of che Melling Drive investmenr property to the Older Peoples Fund Eo release ash lor Ehe purchase ol the Uvedale Manse. The investment In Melling Drive by the Older Peoples Fund continues Eo be lor rhe same reason and 5[raEe employed lor the Buildings Fund to help protect the valué ol the funds chrough asser value and net income from the property. The Church does not invesc in any financial instrumen¢s. 5.4 Grants Policy The Church niake5 gran¢s, equiYalenL to approximaiely l 0/0 of irs unrosri-icred incoming resoui-ces annually. to supporL missionary endeavours both in the UK and abroad. The policy of the church is to give grants on the b35lS th3t they are subject to regular review and only renewed on the bas15 of rneeting set criteria. The missionary 50cietie5 regularly supported include BMS Vvorld M155ion I,. ,&no.-.l. BUGB Home MIs510n Iw'eiW.bapii•C.or&.{Jl<lhoiiioiiiiEil?11,' For details of grants made, see noce 4b on page 18. 6. Plans for Future Periods 2022 saw a new chaprer in rhe life ol EBC with the appoinrment ol Rev Andrew Morgan as MiniSr ors I, Sepiember. Plans for the future are being direcred by rhe vision he has lor EBC and Ehe community we serve. This is building on rhe solid base of servant based leadership we have enjoyed for many years from the Rev Amanda james, who remains Involved with che church as Pastor Emerita. We are continuing to See God do new things at EBC across all age groups. We will therefore continue to support the development of exisong and new Initiatives In the youth and childreTI and families hvork, a5 well as the continued outreach and support ¢0 rhe seniors in our cotnmunity. To fullher support our community OUEreach acriviries, we continue to think about how best we can urilise our resources. our time and our building for the good of the community. 7. Re5ponsibilbtie5 of Trustees for the Financi Statemènts The Trusrees are responsible for preparing the repon and the financial sraremencs in accordance wiEh applicable law and United Kingdom Generally Accepted Accounting Practice. Charity law in England and W21es requires Lhe Trustees to prepare financi21 srarements for each financial year which give a true and fair view of the state of affairs of the chirity and of the Income and expenditure of the charicy lor that period.
Docusign En¥ÈlopÈ ID". 595CCA85-9F99-44CO-9279-A3CAA105AC20 ENFIELD BAPTIST CHURCH ENFIELD BAPTIST CHURCH Annual Report of the Trustee5 For the year ended 31 December 2022 The Truscees have decided to submit the accounts for Independent Examinarion for 2022 as being below the threshold at which Statucory Audii is required. In preparing those financi31 sracements. the Tru5tee5 are required co.. select 5ui¢able accounting policies and apply them consistontly; observe the Methods and principle5 of Ihe Charities SORP., make judgements and estimates that are reasonable and prudent.. stare whether applicable accounting standard5 have been followed, subjecE to iny deparEures disclosed and explained in rhe financial statements., and prepare the financial staiements on the going concern basis vnle$5 It Is inappropriare co presume rhac the activities of the charity will continue. The Trustees are responsible for keeping adequate accounting records which d1sclose with re250n2ble accuracy at any lime the financial posltion of the charity and enables chem to ensure that the financial statements comply with rhe Charitie5 Act 201 l. the Charity (Accounts and Reporrsl Regulations 2008 and the prov15ions of the govÈrning document. The Trustees are alsts responsible lor safeguarding the assets of the chariry and hence for raking reasonable steps lor che preveniion and de[ecOn of fraud 2nd other irregularities. The Trustees are responsible for rhe rnaintenance 2nd integritrl of the charity and financial Information included in the charity's website. . Approvaj The report ol The Trustses was approved by the Trustees on xx October 2023 and signed on its behalf by.. Rev Andrew Morgan Senior Minister
Docusign En¥ÈlopÈ ID". 595CCA85-9F99-44CO-9279-A3CAA105AC20 ENFIELD BAPTIST CHURCH ENFIELD APTIST CHURCH Report of the Independent Examiner to the Trustees of Enfield Baptist Church reporr to the chariry Trustees on my examination of the accounrs of Enfield Bapt15t Church lor the year ended 31 December 2022. Responsibilities and Basis of Report As rhe Tru5tee5 01 the Charipl you are responsible for the preparation of the accounES in accordance with the requirernents of the Charicies Act 2011 I'rhe 201 l Ac£'l. I reporc in respect of my examination of che Charicy's account5 carried out under section 145 of the 201 l Act and in carrying out my examinaiion I have followed Ihe applicable Directions given by the Charity Commission undersection 14515llbl of che 201 I Acc. Independent Examiner's Statement Your atTrntion Is drawn to the lact that the Charity ha5 prepared the 2ccount5 in accordance wich Accounring and Reporung by Charities.. Staternent of Recomrnended Practice applicable to charicies preparing cheir accounts in accordance with the Financial Reporting Standard applicable In the UK and Republic of Ireland IFRS 1021 in preference 10 the Accounting and Reporting by Charities.. Statement of Recommended Practice issued on l April 2005 which is referred to In che extarit regulation5 but ha5 been withdrawn. l underscand that this has been done in order for the accounts to provide 3 true and fair view in accordance with rhe Generally Accepted Accounting Practico effecEive lor rèporting pèriods beginning on or after I january 2015. I have cornpleted my examination. I confirm that no matters have come to my aEcenrion in connecoon with rhe examinatlon giving me cause to believe that in any material respect l. accounting record5 were not kept in respect of the Charity as required by section 130 01 the 201 l Aci,. or the accounts do not accord with those records.. or the accounts do not cotnply with the applicable requirement5 concerning the form 2nd conEent o13ccounES set our in Che Charities (Accounts and Reports) Regulation5 2008 OLher than any requiremenc that Ehe accounES give a 'irue and fair. view whith is not a matter considered as part of an Independent exarnination. I have no concerns and have come across no other m3tter5 in connection with the ex2minaiion 10 which attention should be drawn sn this report in order to enable 3 proper understanding of the accounrs to be reached. This report is made solely Eo Ihe Charity s Trustees. as a body. in accordance w1th Part 4 of the Ch3riries (Accounrs and Report51 Regulations 2008. My work ha5 been undertaken so that I might state to the Charity's Trustees chose matcers I am required to state co chem in an 5ndependent Examiner'5 Report and for no orher purpose. To che fullÈst eXLent permicted by law. I do noi accept or assume responsibility to anyone other than the Charity and the Charity's Tru5tee5 as a body, lor my work or for Lhi5 report. Signed.. ,1L Dated.. 23110/202 3 Richard Hill Griffin Storte Moscop and Co 21-27 Lamb's Conduit Srreet Holborn London WCIN3GS Jo
Docusign En¥ÈlopÈ ID". 595CCA85-9F99-44CO-9279-A3CAA105AC20 ENFIELD BAPTIST CHURCH ENFIELD BAPTIST CHURCH Statement of Financial Attivities For the year ended 31 December 2022 Unrestricted Restricted Funds Funds 2022 2022 Unrestricted Restricted Funds Fund5 2021 2021 Total 2022 Total 2021 N¢)te Income from: Donations and legacies Other Lrading activities Inve5tment5 155.323 43.933 2,007 12,859 206 13.200 168,182 44,139 15.207 173.024 38.291 1.700 10.686 5.564 5,746 183,710 43.855 7.446 Total Income 201.263 26,265 227.528 213,015 21,996 235,01 Expenditure on: Raising funds Charitable acrivities 50 195,142 4.184 31.591 4.234 226,733 4.966 25.OSO 4.973 310.063 Total Expenditure 195.192 35,775 230,967 310,070 30,016 340,086 Ner gainslllosses) on Investments 15.000 15,000 Net incomel(expenditure) 6,071 5.490 {97.055) (8,020) (105,075) Net rransfers between fund5 Other recognised gainsll1055e51 1.835 11.8351 Net movement in funds 6,071 5.490 11,561 (95.220) (9,855) (105,075) Total fund5 brought forward 3.662.671 356,725 4.019.396 3.757.891 366,580 4,124.471 Total funds carried forward 3,668,742 362,215 4.030,957 3.662.671 356.725 4.019,396
Docusign En¥ÈlopÈ ID". 595CCA85-9F99-44CO-9279-A3CAA105AC20 ENFIELD BAPTIST CHURCH ENFIELD BAPTIST CHURCH Balance Sheet As at 31 December 2022 Unrestricted Restricted Funds Funds 2022 2022 Total 2022 Total 2021 Note Fixed Assets Tangible Assers Investments 3,492,739 2,010 275.000 3,494.749 275.000 3.497.749 260.000 3,492,739 277.010 3.769.749 3.757.749 Current A55ets Debtors Cash At Bank And In Hand 27.452 160.768 27,452 245.973 49.347 261,789 85.205 188.220 85.205 273.42S Creditors Amounts Falling Due Within One Year 12,217 12,217 24,789 Net Current A55ets 176.003 85.205 261,208 286.347 Provision5 24.700 Net Assets 3.668.742 362,215 4,030,957 4.019,396 Represented by.. Unrestricted Funds Restricted Funds 3,668,742 3,668,742 362,215 3,662.671 356.725 362,215 Total Funds 3,668.742 362.215 4.030.957 4,019,396 Il+h The financial staieinencs were approved by Ehe Trusièes on Ik*cLober 2023 and signed on it5 behalf by= Dennis Muriu Finance Trustee
Docusign En¥ÈlopÈ ID". 595CCA85-9F99-44CO-9279-A3CAA105AC20 ENFIELD BAPTIST CHURCH ENFIELD BAPTIST CHURCH Notes to the Financial Statements For the year ended 31 December 2022 l. Accounting Policie5 The principal accounting policies adopced, judgements and key source5 01 esrimauon uncertainty in the prepararion of the financial sraremencs are as follows.. Basis of accounting The financial statement5 have been prepared under rhe Charities Act 201 l and in accordance with the Charities Statement ol Recommended Practice Icharities SORP IFRS 10211 and Financial Reporcing Srandard 102 IFRS 1021. The Iinanciil statements are drawn up on Ihe hisEorical cosr basis of accounting except for the revaluaiion of freehoSd and leagehold land and buildings which are shown at fair value. The financial statements IncludÈ all transactions, assets and liabiliries for which the Church is responsible in law. They do not include the accounts of church groups that owe an affiliation ro another body or those rhar are inform31 gacherings ol church Fnembers. The Church meets the definition ol a public benefit enricy under FRS 102. Going Concern There are no material uncertaintie5 abour the charity's Lbility to continue a5 a going concern and accordingly the accounts have been drawn up on a going concern basis. Income recognition Voluntary income and donation5 (including legiciesl 3re accounred for once the Church has entitlemenr to the incom it is probable the income will be received and the amount ol income receivable can be reliably measured. Income Irorn rhe recovery of tax on gifE aided donaEions 15 accounced lor in Ihe period to which Ehe relevanE donarion is received. Grant incotne Is recognised on a receivable basis. lob Retention Scheme grant income Is recognised In the period 10 which Ihe underlying furloughed sraff cosrs relate 10. The incorne from rrading accivicies includes rental income from che leccing of church premises and freehold land and buildings which is accounred for when earned. Interest on funds held on deposic is included when receivable and the 3rn0unt can be measured reliably by the Church.. this is normally upon notification of the Interest paid or payable by rhe bank. Expenditure retognition Expenditure 15 accrued as soon as a liabiliry is considered probable. and rhe amounr ol obligation can be measured reliably. Longer term liabilities are discounted ro present value. The Church is not registered for VAT and accordingly expendiikjre includes VAT where appropriate. Charitable expenditure includes chose costs in fulfilling the Church's principal objecrs, as oudined in che Report of rhe Trustees. These include grants payable and governance cost5.. Grants payable are payments made to third parries in furyherance of the Church's objects. In the case of an uncondicional grani offer rhis is accrued once the recipienr has been norilied of the grant award. The notification gives rhe recipienr a reasonable expectation that they will receive the granr. Grants awards that are Subject to the recipienr fulfilling performance conditions are only accrued when the recipient ha5 been notified of thÈ grant nd any remaining unfulfilled condition attaching to that granc Is outside ol the conirol ol the Church. Governance costs comprise all costs involving the public accountability ol che Church and its compliance with regulation and good practice. These cost5 include costs related to the Independent exarninacion and legal fees. The Church pay5 pension contribution5 for the Ministers into the Bapt15t Pen510n Scherne, a final salary defined benefir scheme for contribution5 until 31 Decernber 2011 and a delined contribution scheme for contributions made Ehereafter. The scheme is a multi-employer Scheme arid It 15 not possible to identify the as5et5 and liabiliries of Ihe scheme which are arLriburable ro the church. The scheme is rherefore accounted lor as a defined contribution scheme, wich contributions payable to the scheme being 2ccounE&d for on an accruals basis. In addition. the church ha5 been paying concribuiions towards a deficit on the defined bonolit scheme. The defici4 discounted to present value. 15 fully provided In these account5 and the charse to the incotne and expendiiure accounE, which is Included in the total pension cost. is the employer contributions payable as adjusted by che movemenr in rhe d15counted provi510n.
Docusign En¥ÈlopÈ ID". 595CCA85-9F99-44CO-9279-A3CAA105AC20 ENFIELD BAPTIST CHURCH ENFIELD BAPTIST CHURCH Notes to the Financial Statements For the year ended 31 December 2022 l. Accounting Policies (continued) Expenditure recognition (continued) Rencals under operating lease5 are charged as incurred over the term of rhe 5ease. Tangible Fixed Asset5 Tangible fixed as5et5 are accounLed lor as follows.. The church land and buildings are stated at lair value. Depreciation Is not provided as the estimated residual value is considered to be the same or higher than the tarrying value ol the property In the accounts. The church manse is srated at C05t. Depreciation 15 not provided as the estimated residual value 15 considered to be Ihe 53me or higher than the carrying value of che propercy in the accounts. Th& cost ol furnicure. fitting5 and equipment. less any expected residual value. Is depreciated on a straight Sine basis over the effeciive useful life of Ihe asset. which has been estimated as follows.. l O years for equipment and fixtures and fittings 6.67 years lor the minibus Fixed Asset Investment5 Inve5rmenrs are shown ar fair vaSue. Realised and unrealised gains and Ios5e5 on inve5tment5 are reflected through the Statement ol Financial Activicie5. Debtors DebLors are included at the sertlemenE amouni due. Prepayments are valued at the amount prepaid. Creditors and provisions Creditors and prov15ions are recognised where che charity has a pre5enr obligation arising from a past evenr thar will probably resuli in rhe rransfer of funds ro a third partr/ 2nd the amount due to settle the obligation can be measured or estimated reliably. CrediEors and provision5 are recognised at their settlement amount. Financial Instruments The church only has financial assers and financial liabiliiies ol a kind Ihar qualify as basic financial insrruments. Ba51C financial insrrumenrs are Initially recognised at transaction value and subsequently measured at their 5et¢letllent value with the oxcÈpEion of bank loans which are subsequently measured at arnortised cost using the effective Iniere5t mechod. Fund accounting The funds held by che charity are eicher.. UnrestricEed general funds - these are funds which can be used in accordance with the charitable objects at the discretion ol the Irusrees. Restricted funds - these are funds that can only be used for parvcular restrIcd purposes within che objecrs of rhe charity. Restrictions ar15e when specified by the donor or when funds are raised for particular restricted purposes. 14
Docusign En¥ÈlopÈ ID". 595CCA85-9F99-44CO-9279-A3CAA105AC20 ENFIELD BAPTIST CHURCH ENFIELD BAP",',ST CHURCH Notes to the Financial Statements For the year ended 31 December 2022 2. Incomè Unrestricted Restricted Fund5 Funds 2022 2022 Total 2022 Total 2021 Donations & legacies Offering5 2nd donations Income tax reclaimed Granc5 126.628 28,695 10.731 2,128 137,359 30,823 140,474 29,873 13.363 Ocher trading activiiies Lettings intome Other income 155,323 12,859 168.182 183.710 41.950 1,983 41,950 2.189 35,299 8.556 206 Investment Income Interest Rents 43,933 206 44.139 43.855 2,007 2,007 13.200 1.700 5.746 13,200 2,007 13,200 15,207 7.446 201,263 26.265 227,528 235,01 Income includes £nil12021.. £13.3631 of granc5 Irom the lob Retsntion Scheme, a government funded scheme. 3. Expenditure- Raising Funds Unrestricted Restricted Funds Funds 2022 2022 Total 2022 Total 2021 Invescment properry (Melling Drivel cosrs Collecting agent fees 50 4,184 4.234 4,966 50 4,184 4.234 4.973
Docusign En¥ÈlopÈ ID". 595CCA85-9F99-44CO-9279-A3CAA105AC20 ENFIELD BAPTIST CHURCH ENFIELD BAPTIST CHURCH Notes to the Financial Statements For the year ended 31 December 2022 4. Expenditure- Charltable Activitie5 Unrestricted Restricted Funds Funds 2022 2022 Total 2022 Total 2021 Ministry Gr0$5 salaries Sta¢utory Maternity Pay recowered Employers National Insurance Employer Allowance Pension5 71.438 82.929 76,420 13.8181 6.931 13.1481 7,505 7.438 13.9811 115.8701 357 7,795 14.1631 115.3841 487 59.025 12.153 71.177 83.890 Mission Other mission Gifts and grant515ee note 4b below) 19.740 16,708 4.499 9.707 24,240 26.415 7.396 24.161 36.448 14.206 50,655 31,557 Establishment Gross saliries - Prem15e5 Scaff Gross salaries- Cleaner Gross salaries- Caretaker Emplgyers National Insurance Employer Allowance Pensions Hear & light Insurances Raies & Council r2X Repairs. maintenance & cleaning Cleaning materials Depreciaiion 13,415 1,365 2,953 935 14301 78 10.213 5.618 2.854 20.375 3,482 990 13,415 1,365 2,953 935 14301 78 10,213 5.618 2.854 20,375 3,482 3.000 5,066 1,660 9.103 4,066 3,217 95,681 2,010 34,242 61,848 2,010 63,858 178.325 Administration Gross salaries 3dministrator & finance officer Employers N2iion31 Insurance Employer Allowance Pen510nS Accountaricy & payroll Printing. advert151ng & new51etter Hire of plant and machinery under operating leases Telephone & broadband 10,070 622 14071 387 8,400 415 3,355 5,887 72 2,237 3.323 1501 3,222 13,292 622 {4071 387 8.400 415 3,355 5.887 72 2,237 3,323 1501 9.232 167 469 10.627 705 2.613 Pension admin fees Subscriptions Other expenditure 2.305 3.553 3,222 37.533 38,101 Governante Accountancy (including preparacion of annual lin3ncial statements) Independent examinationlaudi£ 1,536 1,974 1.536 1,974 1.500 1.740 3,510 3,510 3.240 195,142 31.591 226.733 335.113 io
Docusign En¥ÈlopÈ ID". 595CCA85-9F99-44CO-9279-A3CAA105AC20 ENFIELD BAPTIST CHURCH ENFIELD PAPTIST CHURCH Notes to the Financial Statements For the year ended 31 December 2022 4& Staff Costs Included within Expendiiure on Charitable Activities are the following staff c05ts'. 2022 2021 Gr05S Salaries Statutory Maternity Pay recovered Employers national Insurance Employer s Annual Allowance Pernsion contributions (including movement on deficit pension provision 113.953 116,829 9.352 15.0001 8,758 14,0001 7.974 103.386 125,743 Of which the following gros5 5alarie5 & pension concribucions relate to Key Management Personnel.. Gross salaries Pension contribution5 46.271 5.179 47,171 6,584 51.450 53.755 2022 Number 2021 Number The average number of employees during the year.. No employee received emoluments in excess of £60.000 during the year.
Docusign En¥ÈlopÈ ID". 595CCA85-9F99-44CO-9279-A3CAA105AC20 ENFIELD BAPTIST CHURCH ENFIELD BAPTIST CHURCH Notes to the Financial Statements For the year ended 31 December 2022 4. Expenditure- Charitable Activities (continued) 4b. Gifts to organisations and individuals Included within Expenditure on Charitable AcriviEies are the following gilts ro organi$3tions and individuals-. Unrestricted Restricted Funds Funds 2022 2022 Total 2022 Total 2021 Gift5 to organi53tions All People All Place5 Baptist Mission Society Baptisr Home Mission BMS World Mission Bridge of Hope Care for Ehe Family Compas510n Enfair Enfield Churche5 Debt Centre Kint5ugi Hope Cascaid Trust (Ukrainel North Enlield Foodbank Oasis Iniernarional Iugandal Pachway Trinity Church Enfield St Michael 5 Ilaptop donarionl The Message Trust 1,562 1,562 6.274 5.012 4,991 5,017 400 400 4,991 5,247 400 400 230 400 192 800 2.400 2.400 500 2.400 500 2,400 4.635 4.635 1.500 300 1,500 300 1.500 300 3.553 1.280 1.200 1.200 16,708 9.707 26.415 Gifts to individu31s 50 16,708 9,707 26.415 24,161
Docusign En¥ÈlopÈ ID". 595CCA85-9F99-44CO-9279-A3CAA105AC20 ENFIELD BAPTIST CHURCH ENFIELD BAPTIST CHURCH Notes to the Financial Statements For the year ended 31 December 2022 5. Tangible Fixed Assets Freehold Freehold land & land & building5: buildings.. Flxtures Church Manse Equipment & fittings Minibus Total Costlvaluation At I january 2022 Revaluation Additions Disposals 2.765,000 725,000 81.320 231,000 20.094 3,822.414 Ar 31 December 2022 2.765.000 725,000 81.320 231,000 20,094 3.822.414 Depretiation At I January 2022 Charge For Year Disposals 75,581 990 231.000 18,084 2,010 324,665 3,000 At 31 December 2022 76,571 231.000 20,094 327,665 Net Book Value AE 31 Decetnber 2022 2.765.000 725,000 4,749 3.494,749 At 31 December 2021 2.765.000 725,000 5.739 2.010 3.497.749 All ol the fixed assetg are used for charitable purposes. The Church premise5 are included in the bal3nce sheet at an esrimated c05t of rebuild plus land. There is no reliable cost Information and an appropriate valuacion would incui- s1gnilicanL cosis which would be onerous In compai-lson to the benefit gained. The Church manse is l a Uvedale Road Enfield EN2 6HA. 6. Fixed Asset Investments Property at valuation At I january 2022 Revaluation 260.000 15,000 At 31 December 2022 15,000 The investmenr is repregenced by the property at Melting Drive. Enfield EN14UZ which is a leasehold two bedroot flat. The Eenani 5 agreement and flai are m3n3ged on behalf ol rhe Church by Williamson Dace Brown Property, Southgace N14 6BY. The m3rker value of Ehe invesiment properry 3[ 31 December 2022 has been determined by rhe trusiees with reference ro inlormaiion available online for sales prices being achieved for 51milar properties In the area. 19
Docusign En¥ÈlopÈ ID". 595CCA85-9F99-44CO-9279-A3CAA105AC20 ENFIELD BAPTIST CHURCH ENFIELD BAPTIST CHURCH Notes to the Financial Statement5 For the year ended 31 December 2022 7. Debtors 2022 2021 Prepayments Trade debtor5 Gifr Aid receivable Other rax recoverable OEher debiors 4,062 5,035 29,873 6,969 3,408 15,030 4.542 2.674 27.452 49.347 8. Creditors- Amounts Falling Due Within One Year 2022 2021 Other creditors including taxation and Social 5ecuri(y Accruals Pensions 498 9.150 2,569 2.977 21.462 350 12.217 24,789 9. Provisions 2022 2021 Balance brought forward DeficiE coniributions made in the year Inieresr cost plus change In agreed deficit recovery plan and change In assumptions between year ends 24,700 13.1271 30,721 15.2741 121,5731 17471 B31ance carried forward 24.700 The provision is in respect ol defieit pension conrributions due EO the 82prisr Pension Scheme. The current deficit reduction plan requires contributions LO be made until lune 2026. The provision h35 been calculated based on rhe current deficit contriburions, assuming Ehey will Increase by Inflation. and the total Iiab511ry ha5 been di5COUllted to present value using a marker bond rare. using Ihe following assumptions set by reference to the duratiori of the deficit recovery payments: 31 Dec 2022 JI Dec2021 31 Dec 2020 Discount rate 5.7% 2.0Y. 1.4% Future Increases to Minimutn Pensionable Income 5.6% 3.2% 3.3Y. See note 13 for further explanation of the church's pension commitmenL
Docusign En¥ÈlopÈ ID". 595CCA85-9F99-44CO-9279-A3CAA105AC20 ENFIELD BAPTIST CHURCH ENFIELD -APTIST CHURCH Notes to the Financial Statement5 For the year ended 31 December 2022 l O. Unrestrirted Funds At I January 2022 At31 December 2022 l Oa Current year Gain51 (losses) Income Expenditure Transfers General Fund (see note l Q. I I 3,601,514 201.243 3,617,651 Designated Fund5: Buildings Fund.. Funds Major Repair Fund Mission Fund.. Tirhe surplus Legacy lund l Arrowsmit 24,086 29,866 3,358 1.847 2,000 20 17.9851 29,866 1,257 1.847 2.000 20 (10.086) 51.091 3,662.671 201,263 (195,192) 3.668.742 Atl January 2021 At31 December 2021 l Ob Prior year Gain51 (1055es) Income Expenditure Transfer5 General Fund (see ngie l O. I I 3,613,756 213,015 1202.7481 122.5091 3,601,514 Designated Funds: Buildings Fund.. Funds Major Repair Fund Mission Fund.. Tithe surplu5 Legacy fund l Arrowsmirh 187,9751 24,086 29.866 3,358 1,847 2,000 28,227 1.639 22.705 119.3471 1.847 2,000 144,135 (107,322) 24,344 61.157 3,757,B91 213.015 (310,070) 1,835 3,662,671 General Fund. Th15 is financed by the gilrs to the church by members and others attending. rogether with trading income. Gift Aid is also claimed on gif15 to the church. where 3ppropriaie. All COSES ol Ehe day-10-day running of rhe church and trading expenditure are included in the general fund. Designated Fund5. Descriptions of the designated fund5 Wlth closing balances are as follows.. Building5 Fund. This was established with the sale of one ol the church'5 manses, 17 The Orchard. A majority of Ehe balance was used 10 purchase an investmenc property which was completed on 24 March 2016. namely 136 Nelling Drive Enfield EN14UZ. a two bedroom flat that wa5 let out at a market rent. The tenant'5 agreernent and flat are managed OTI behalf of the Church by Williamson Dace Brown Property. Southgate N14 6BY. This property has since been transferred to the Older Peoples Care Fundl5ee note 5.3 on pige 81. Major Repair Fund. The Major Repair Fund has been estab115hed to help plan for significant repair and rnaintenance requirements over the longer terrn. EBC allocate5 1 Oyo of LetEings incorne as the main income to this fund.
Docusign En¥ÈlopÈ ID". 595CCA85-9F99-44CO-9279-A3CAA105AC20 ENFIELD BAPTIST CHURCH ENFIELD BAPTIST CHURCH Note5 to the Financial Statements For the year ended 31 December 2022 l O. Unrestricted Funds (contÉnued) Mission Fund. The M15sion Fund reflects the church'5 commitment. It 15 generally funded from a percenrage of unrescricced Income. Le8acy Fund. The residual ol a legacy has been Set aside lor purpose5 as yet unspecified. l O. l Unrestricted Fund Income & Expenditure In Detail 2022 2022 General Designated Fund Fund Income 2022 Total 2021 Total Donations & leg3cie5 Offerings and donation5 Income tax reclaimed Grants 126,608 28,695 20 126,628 28,695 130,552 29,109 13,363 155,303 20 155,323 173,024 Other trading activiries Ler¢ing5 income OthÈr income 41,950 1,983 41.950 1.983 35.299 2.992 43,933 43,933 38,291 Investment income Interest 2,007 2,007 1,700 2,007 2,007 1.700 201.243 20 201,263 213.015
Docusign En¥ÈlopÈ ID". 595CCA85-9F99-44CO-9279-A3CAA105AC20 ENFIELD BAPTIST CHURCH ENFIELD BAPTlf T CHURCH Notes to the Financial Statements For the year ended 31 December 2022 l O. l Unrèstrirted Fund Income & Expenditure In Detail (continued) Expenditure 2022 General Fund 2022 Designated Fun¢J 2022 Total 2021 Total Rai5iThg fLtnds Melling Drive costs Collecting agenr fres 50 50 50 50 Ministry 71,438 71.438 63.808 Statuiory maternity Pay Reiovered Employers N3lion31 Insvrance Employer allowance Pensions 7.438 7.438 6.427 12,9051 59.025 59.025 70.427 Mlssion Other mission Gits and grants 19.740 14.608 19.740 16,708 4.519 20.015 2,100 34.348 2,100 36.448 24.534 Establishment Gr055 5alarie5 Pretllises Staff Gross salaries Cleaner C3retsker Employer5 National Insurance ETnpIDyer Allowance Pension Hear & light Insurances R3Ees & Council Llx ReD21rs. m3intenAnce 8 cleaning 1.365 2,953 93S 14301 78 5.066 2,953 935 14301 78 9.103 4.066 3.217 5.618 2.854 12.438 3,482 990 5.618 2,854 20.375 3,482 990 7,937 Depreciatio 31.228 7.937 61.848 Administration adiniDistrator & finance officer &nployers National Insurance Ernploytnenr Allowance Pension5 Accountancy & payroll Printing. adverEi&ing & newsleEEer Hire of pLHnE and machinery under operating leases Telephone & broadband 10.070 622 14071 387 8,400 10.070 622 14071 387 9.4 415 3.355 5.887 72 2.237 3.323 1501 9.232 469 10.627 705 2.613 3.355 5.887 72 2.237 3.323 Pension admin fees Subscriptions Other expenditure 2.305 3.553 Governance Accounting Iincluding Preparation of financial 5tateTnentsl IndependEnt examinationlaudit 1,536 1,974 1.500 1.740 1.974 3,SlO 3.240 Total expenditure 10,087 195.192 310.070 Net incomel{expenditurel 6.071 197,055)
Docusign En¥ÈlopÈ ID". 595CCA85-9F99-44CO-9279-A3CAA105AC20 ENFIELD BAPTIST CHURCH ENFIELD BAPTIST CHURCH Notes to the Financial Statements For the year ended 31 December 2022 I l. Restricted Funds I l a Current year At I January 2022 At31 December Gain51 (losses) Income Expenditure Transfers 2022 All People All Places IEBC} AssociaEe Minister Fund Car Park Parry Fund EBC Loves Enlield Guild Trip Ukrainian Hub Ca5caid Trust Iukrainel Foodbank Older Peoples Care Fund.. Fund5 Minibu5 Property CAMEO BM5-1 will stand Yourh IAblaze legacy) 26.057 200 1,863 855 4.224 13.2221 1200} 27,059 1.863 695 11.5501 4,635 14.6351 57.690 2.010 260.000 5,489 13.200 118,5991 12,0101 52,291 15,000 275,000 5,002 14871 12301 230 Vance Bennett 1.000 1.000 356,725 26,265 (35,775) 15.000 362.215 I I b Prior year At I January 2021 At31 December 2021 Gain51 (losses) Income Expenditure Transfers All People All Places IEBCI A5sociaEe Minister Fund Car Park Party Fund EBC Loves Enfield Guild Trip LaptOP5 Keyboard Older Peoples Care Fund.. Funds Minibu5 Property BMS Covid Free World Appeal CAMEO BMS I will stand Yourh (Ablaze legacy) 23.263 200 3.600 1806} 26,057 200 1,863 855 250 855 2,885 1,835 1.430 11,4301 12,8851 72.489 5.024 260.000 5.746 120.5451 13.0141 57,690 2.010 260.000 5,564 65 1751 1651 5.489 Vance Bennert 1.000 1,000 366.580 21,996 (30.016) (1.835) 356.725 ?4
Docusign En¥ÈlopÈ ID". 595CCA85-9F99-44CO-9279-A3CAA105AC20 ENFIELD BAPTIST CHURCH ENFIELD BAPT,:ST CHURCH Notes to the Financial Statements For the year ended 31 December 2022 I l. Restricted Funds (continutd) Description5 of the main restricted funds and their purposes are a5 follows.. All People All Places- funds raised tsr received for the work ol All People All Places (charity regisErarion 11398851 seeking 10 bak the cycle of horneles5ne55 and Improve lives and reintegrate inio mainsEream society. A550ciate Minister (formerly the Children and Familie5 Worker Fund) - supported the employment of an Associaie Minisier which included resptsnsibiliiy for Familie5 Lill Oct 202 I. A5 per note 3.6. we appointed a Family Support Worker as a paid role in November 2022. which is now funded from rhis fund. Baptist Missionary Sotiety- lund5 raised for the work ol the Baptist Mission Sociery (charity registration 2337821. Baptist Home Mission- funds raised for the work of the Bapust Home Mission (charity registration 11259121. E8C Loves Enfield funds r215ed to undertake various forms of communicy outreach in Enfield. Guild Trip - The Guild undertake a trip to Eastbourne each year, which is sell_funded but payments are received for the trip and related expenses throughout the year from those 3ttendirig. The Older People's Care Fund. The fund supporis ministry ro older people, particularly with regard to assisring them to remain living independently in their own accommodaiion. CAMEO - 'Come and Meet Each Other ICAMEOI is now an activity ol E8C under our senior5 work. but W25 formerly a sep2raEe lunch club. When the lunch club closed and rhe acrivity was raken on by the church. the residual funds held by the former lunch club were transferred 10 EBC. As such, we hold these as restricred funds LO be allocaced to the costs and 2CCiViEies of CAMEO. Youth- funds raised for ministry ro the youth at the church. 12. Operating Lease Commitments The fool future minimum lease payments under non-cancellable operating lea5e5 are payable.. 2022 2021 Nor later than one year Lacer than one year and nor lacer rhan five years 2.608 2,608 2.608 2,608 5,216 13. Pensions The Church is an employer participating in a pension scheme known as the Bapt15t Pen510n Scheme I'the Scheme"). The Scheme is 3 separate leg21 entiry which Is administered by the Pension Truste& (Baprist Pension Trust Limited). The assets of the Scherne are held separately Irorn those ol the Employer and che ocher parriciparing employers. The Scheme 15 considered 10 be a multi-employer scheme a5 described In Section 28 of FRS 102. This is because It Is not possible ro atEribute the Scheme s assets and liabilities to specific employers and means that the scheme is accounred for as If rhe Scheme were a defined contribution scheme. The Scheme. previously known as the Bapt15t Ministers Pension Fund, started in 1925. but W35 c105ed to fucure accrual of defined benefit5 on 31 December 20 5 l. Prior to this date the main benefit provided through the Definèd Benefit (DB) Plan was a pension of one eighiieth of final minimum pensionable Incorne for each year of pensionable service together with additional pensioH irn respect of premiums paid on Pensionable Income In excess of Minimum Pensionable Income.
Docusign En¥ÈlopÈ ID". 595CCA85-9F99-44CO-9279-A3CAA105AC20 ENFIELD BAPTIST CHURCH ENFIELD BAPTIST CHURCH Notes to the Financial Statements For the year ended 31 December 2022 13. Pensions (continued) From january 2012, pension provision is being made through the Defined Contribution (DC) Plan within rhe Scheme. In general. members pay 8% 01 their Pensionable Income and employers pay 6°A ol members, Pensionable Income Into Individual pension accounts. which are operated and managed oll behalf of the Pen510n Trustee by Legal and General Life Assurance Society LimiTrd. In addition. the ePl0Yer pay5 a further 47g ol Pensionable Income to cover Death In Serv5ce Benefit5, adtninistration cost5. and an associated Insurance policy which provides income protection for SthÈme members In Ihe evenc rhac chey are unable Eo work due Eo long term Intapatity. This Income protection policy has been insured by the Baptisr Union ol GreaL Britain With Unum LirniLed. Mernbers of the Basic Section pay reduced contribution5 015% 01 Pensionable Income. and their employers a150 pay 3 roral 015%. The Minisrers and some members ol the church staff are eligible to join the Scheme, wh1ch 15 not contracted OUE of the State second Pension. Actuarial valuation as at 31 Detember 2019 A formal valuation of the DB Plan a5 ai 31 Decetllber 2019 was carried out by 3 profes510nally qualified actuary u51ng the Projected Unit Method. At ihe valuation daLe the market value of the DB Plan 85sets was £298 million. whi15t the level ol a55et5 needed to pay bene11¢5 was £316m, giving a deficit of £18rn (equivalent LO a past service funding level 0194Y.l. The Church and the ocher parcicipacing employers in the DB Plan are colleciively responsible for lundirig ¢h15 deficit. The key financial assumptions underlying the valuation were as follows.. Type of assumption RPI price inflation assumption CPI price infl3Eion as5umpEion Minimum Pensionable Incorne increase Adiu5tmen¢ labove CPI) Assumed investment returns Pre-recirement P05t i-e¢iretnent Deferred pension increases Pre April 2009 Post April 2009 Pension incre3ses Main Scheme pension % p.a. 3.20 2.70 0.50 2.95 1.70 3.20 2.50 2.70 Mortality is assumed in accordance with 80/¢ of the S3NA standard tTTrortality table. Future Improvements projected from 2013 in line with che 'CMI 2019" projection wirh a long-cerm rite ol Improvetnent of 1.75/¢ p.a. for male5 and 1.5/. p.a. for females with Ihe core smoothing paramerer and with addiEional inirial morraliEy impro¥emenE factor A=0.5Y.. The next acruarial valuation of the DB Plan within the Scherne will commence in 2023 EO relleci the position as at 31 December 2022. Recovery Plan In addition co the conEribucions Eo Eho DC Plan set ouc above. where a valuation of Ehe DB P13n reveals a deficiE the Trustee and the Council agree to a rate of deficiency contributions from churches and oiher ernployers involved in the DB Plan. Following the 2019 valuation a Recovery Plan wa5 Signed In Septetnber 2020 under which deficiency conrribuEions are payable until lune 2026. These contribuLlOnS were broadly based on each employer'5 rnember5hip at 31 December 2014 and increase annually in line with increases to Minimum Pensionable Income a5 defined in che Rules. On 30 lune 2022 the Bapiist Pension Scheme signed an 3greemenE with the insurance company lust Group I'lust") 10 secure DB Plan members, pension benefic5. lusr are now providing financial backing for all pension5 prgvided through the Scheme 5 DB Plan 2nd following this traTisaction. the Scheme no longer h25 a 5hortf211. An updated recovery plan was then signed In August 2022 under which recovery conrribuuon5 from each participaring employer in the DB Plan reduced ro £ I per monrh from Augusr 2022.
Docusign En¥ÈlopÈ ID". 595CCA85-9F99-44CO-9279-A3CAA105AC20 ENFIELD BAPTIST CHURCH ENFIELD B,4PTIST CHURCH Note5 to the Financial Statements For the year ended 31 December 2022 13. Penslons (cantinued) As there is a large number of coniributing employers parEicip3Eing in Ehe Scheme, rhe Church is unable co ideniify lis Share of the underlying assets and liabilities ol the scheme. A prov15ion h35 been included in the accounts for the amounts due under this agreement in accordance with section 28.1 IA of FRS 102 Isee note 91. Accordingly, rhe Income and expenditure accouni charge for the period represents the employer contribution5 payable as adjusied lor the movement In Ihe prov1510n. The total pension cos¢ lor the Church in 2022 wa5 a credit ol £14.91912021.. debit 01 £7,974). 14. Related Party Transactions Rev Amanda lame5. a Trustee until 31 Augusi 2022. received gross remuneration of £35,271 12021.. £47.171 l and pen510n contributions (excluding deficit contributionsl 01 £4,389 12021.. £6,584) during che year in her employed CaP3City of Senior Minisier. Rev Andy Morgan, a Trusree from I September 2022, received gross remuneration of £ 11,00012021.. £nill and pension coniribuiions (excluding deficir coniributionsl ol £1,31611021-. £nill during Lhe year hi5 ernployed capacity (>1 Senior Miriisrer. Sarah Cody. the spouse ol Martin Cody. a Trustee. received gr055 rernuneration of £21.850 12021.. £16.3671 and pension contribution5 of £1.092 12021.. £1,077) during the year In her employed capacity ol Children and Youth Worker. No Trustee 12021.. nil) received reimbursemenc for costs Itraining, cravel and subsistence) incurred on church business. The Trustees gave a total ol £16.64712021.. £16,047) in unrestricted offerings and donations during the year.