Annual Report and Accounts Year Ended 31st December 2020
TABLE OF CONTENTS
TABLE OF CONTENTS ....................................................................................................................... 2 REPORT OF THE DIACONATE FOR THE YEAR ENDED 31 DECEMBER 2020 .................................... 3 LEGAL AND ADMINISTRATIVE INFORMATION ......................................................................................... 3 STRUCTURE, GOVERNANCE AND MANAGEMENT .................................................................................. 4 OBJECTIVES AND ACTIVITIES .................................................................................................................. 5 ACHIEVEMENTS AND PERFORMANCE .................................................................................................... 6 FINANCIAL REVIEW .................................................................................................................................. 7 CONCLUSION .......................................................................................................................................... 9 INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF QUEENS ROAD BAPTIST CHURCH .... 10 ANNUAL ACCOUNTS YEAR ENDED 31[st] DECEMBER 2020 ........................................................... 11 STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST DECEMBER 2020 ......................... 11 BALANCE SHEET AS AT 31[ST] DECEMBER 2020 ........................................................................................ 12 NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2020 ..................................... 13
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REPORT OF THE DIACONATE FOR THE YEAR ENDED 31 DECEMBER 2020
LEGAL AND ADMINISTRATIVE INFORMATION
Name of Charity:
Queens Road Baptist Church Coventry
Charity Status:
Registered in England No: 1127882
Governing Documents:
Constitution (Adopted 10[th] March 2009) Trust Deed dated 27[th] June 1881
Church Administrator: Mrs H Jones Centre Manager: Mr B Peak Café Supervisors: Mrs S Devi Mrs J Kettell Volunteer Parish Nurse: Mrs L Austin
Centre Support Worker: Mrs S Cunningham
Address:
Queens Road, Coventry CV1 3EG
Property Trustees
(ref. Deed of Trust dated 27 June 1881)
Managing trustees comprise Church Officers, Deacons and Ministers
Church Officers:
Mr J Fisher: Secretary Mr J Montgomery: Treasurer
Deacons:
Miss J Brazier Miss C Burrell Mr C Chabala Mr I Colville Mrs A Grimshaw Mrs K Hamer Mrs S Hobley Mrs A Montgomery Mrs M Shieh Mr D Simonds Vacancy (2)
Mr J Barber Mr J Bayliss Mr D Brown Mr J Fisher Mr M Millard Mr G Parsons Mrs S Senior Miss J Young
Independent Examiners
Tom Sydney Fifth Dimension Management Nottingham NG9 3EG
Bankers
CAF Bank Ltd, 25 Kings Hill Avenue, Kings Hill, West Malling, Kent ME19 4JQ
Solicitors
Ministers:
Rev G Banks Rev N Martin
Mander Handley & Co 1 The Quadrant, Coventry CV1 1EL
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STRUCTURE, GOVERNANCE AND MANAGEMENT
The Diaconate present their report with the financial statements of the charity for the year ended 31[st] December 2020. The Diaconate have adopted the provisions of Accounting and Reporting by charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102, effective 1[st] January 2015).
The church is a Registered Charity, an unincorporated association governed by a Constitution adopted at the Church Members’ Meeting on 10[th] March 2009.
Recruitment and Appointment of Managing Trustees
The Managing Trustees are known as the Diaconate, which comprises any ministers or pastors appointed by the church (unless otherwise decided by a Church Members’ meeting), the Secretary, Treasurer, and twelve deacons all of whom are elected by the Church Members’ Meeting. The method of appointment is outlined in the Constitution.
Trustee Induction and Training
Induction training for new deacons is the responsibility of the Church Secretary. New trustees have the benefit of a formal training to enable them to acclimatise to the way in which the charity operates. This involves the attendance at meetings and the correct protocols to be followed so that they can fully engage in the correct running of the charity.
Organisational Structure
Queen’s Road Baptist Church is founded on the ‘congregational’ style of Free Church governance. Church Members meet as one body in a Church Members’ Meeting under the guidance of the Holy Spirit and under the Lordship of Christ to discern the mind of God in the affairs of the church.
Members of the church are accepted in accordance with the Constitution which requires them to be or to have been publicly baptised on profession of faith in Jesus Christ, or to renew their public profession of faith in Jesus Christ.
The Church Members’ Meeting is normally convened five times each year, in March, May, July, September and November, and has responsibility for the overall policy of the church. In accordance with the Constitution, the members appoint twelve deacons who, together with the Minister, Church Secretary and Treasurer (who are also appointed by the Members), and collectively known as the diaconate, are responsible for the day to day running of the church’s work and witness, and the financial and legal aspects of the charity. All members are encouraged to take an appropriate part in the spiritual and practical tasks involved in the furtherance of the charitable objectives.
Relevant matters may be submitted to the Church Members’ Meeting by the Trustees for guidance, or may be raised by members in the Church Members’ Meeting for further consideration by the Trustees. The Church Members’ Meeting has reserved authority in the appointment and removal of a Minister, the appointment and removal of Charity Trustees, decisions related to church property, the administration of the membership list, and the closure of the church. Although the Constitution provides for significant decisions to be made at Church Members’ Meetings by appropriate majorities, the church seeks to work by consensus wherever possible.
The land and buildings owned by the Church are held in the names of the private Property Trustees, all of whom are Church Members, in accordance with the Trust Deed dated 27[th] June 1881. The Constitution and Trust Deed are entirely compatible with one another and with the charitable objects of the church.
Related Parties
Whilst operating independently, the Church takes note of and seeks guidance from the Baptist Union of Great Britain and the Heart of England Baptist Association.
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OBJECTIVES AND ACTIVITIES
The principle purpose of the charity is the advancement of the Christian faith according to the Baptist denomination. The church may also advance education and carry out other charitable purposes in the United Kingdom and/or other parts of the world.
To achieve these objectives, the church provides a variety of activities which are open to the membership and to the community in general. Our aim is to show the love of Jesus Christ in both word and deed and to bring people into a closer relationship with Him as living Lord.
Central to the work and witness of the church is the provision of regular public services of Christian worship. These services normally take place each Sunday at both 10:30am and 6:30pm. There are also occasional services at other times which are advertised on the church notice boards and our website at www.qrbc.co.uk. There is a full children’s programme during the morning services. The church seeks to be a friendly and welcoming community, and anyone is free to attend any of these services.
To promote growth in faith and discipleship, and to help newcomers to integrate into the larger fellowship, a number of small groups meet regularly in the homes of some members. Pastoral care of the church community is also enabled through these small groups, and by a network of pastoral groupings under the oversight of five area leaders and their teams that encompasses the whole church.
A varied programme of social activities including, for example, walks, talks, meals, arts and crafts, music, outings and sports, is arranged throughout the year to encourage friendship, mutual support, and care among the membership and anyone who would like to join them.
In-depth studies of various books and topics from the Bible are arranged for weekday evenings from time to time as advertised.
As a fellowship we engage in a variety of different approaches to mission, both direct and through social action, seeking to demonstrate and share our faith by serving the local community. Our family work includes groups for parents with young babies, a Parent & Toddler group, and a group for fathers and children, all of which meet regularly.
The church also runs a large and successful centre for the Duke of Edinburgh’s Award Scheme which, subject to capacity, is open to young people throughout the city.
In addition to activities and services run directly by the church, we seek to support the local community by making our premises available for use by other groups and organisations. Priority is given to bookings by other charities and groups that offer a service to the community. On Monday to Friday lunchtimes, we run a small café on the premises, serving refreshments to those using our buildings and to the general public. The Church Centre (i.e. room bookings and café) is run on a not-for-profit basis as part of the ministry of the church.
Further details of our activities are available on our web site, from the Church Centre Reception desk, or on request from the church office.
The church operates systems to ensure that all people working with children, young people, and adults at risk are appropriately vetted with reference to the Disclosure and Barring Service.
The Trustees have read the Charity Commission guidance on public benefit and are satisfied that the activities outlined above clearly demonstrate that the charity is providing a benefit to the public.
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ACHIEVEMENTS AND PERFORMANCE
2020 has been a year unlike any other in recent memory due to the effects of the Covid-19 pandemic. However, under the guidance and provision of God, and with the hard work of the staff, volunteers, and members of the congregation, many aspects of the life and work of the church have continued to flourish, albeit in a rather different format to normal.
For the first two months of the year, the pattern of activity continued as usual along the lines described in Objectives and Activities above. However, by early March the leadership were becoming increasingly concerned at the national rise in cases of Coronavirus and were actively planning our response. On Thursday 12[th] March, in view of the worsening situation and the need to inform everyone involved in a timely manner, the Ministers, Church Officers, and Centre Manager met to discuss what further steps we should take. We had been monitoring Government guidance, and it was anticipated that a COBRA meeting that day was likely to result in stronger restrictions on public gatherings. In the event, the COBRA meeting was delayed, and we had to take a decision without knowledge of their findings. It was agreed to suspend all activities in the church building and to cancel our services of worship on Sunday 15[th] March. Within a week, the Government had made such moves compulsory with the first lockdown. The staff completed a controlled close-down of the Church Centre, and the Ministers and Administrator moved to home working.
In just a few days, our website was enhanced with extra news and community pages to help the fellowship keep up to date with developments and to share with one another. A daily Word for the Day has been provided for spiritual nurture and encouragement. This was initially written by our Minsters, but over forty different people have now contributed. Members were also encouraged to share their stories and photographs, and many creative ideas have been developed to help people keep in touch and engaged.
Our pastoral care system has been strengthened by dividing members in the various areas into clusters, with cluster leaders keeping in regular communication with their people, and mutual support encouraged. We are very grateful to our Ministers, Pastoral Area Leaders, and Administrator, for their massive efforts to ensure that everyone has been well supported.
We are also indebted to our Technical Team, who immediately set to work to assemble the equipment and processes to support on-line worship services, and on 29[th] March we streamed a service on the internet for the first time. Over the following months experience and expertise has grown, and we have invested in the technology to progressively improve the quality of our weekly offering. It is encouraging that many people have contributed to worship, and we have been able to include items from our mission contacts overseas. Streaming has enabled many of our housebound folk to worship with us regularly, and we have been pleased to welcome other people who have joined us online from around the country and abroad.
In parallel, a lot of effort has been invested in our social media platforms, to encourage communication and provide teaching and fun activities for our families and young people. Videoconferencing has been used extensively for our leadership meetings, and to allow regular groups to meet virtually for fellowship, Bible study, and prayer throughout the year.
During the Summer and early Autumn, when restrictions were temporarily eased, we were able to open the chapel for private prayer one morning a week. Our Thursday group for young people was also able to meet for a while inperson with appropriate precautions, which was a blessing to the youngsters, but with the introduction of the tier system they had to revert to on-line meetings.
Our food distribution centre, operated as part of the Coventry Central Foodbank, initially closed in accordance with the city-wide strategy agreed between the Foodbank and Coventry City Council, but we were able to reopen on Mondays for a few weeks later in the year.
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Unfortunately, social distancing rules meant that it was not feasible to re-open our Parent and Toddler groups and many other family and youth activities which would normally have been offered on the premises. Where possible, contact and activities have been transferred on-line. However, we were able to take a lead and join with other churches to provide an open-air Light Trail around the city (as a positive alternative to Hallowe’en) and a similar activity before Christmas, both of which were well supported.
This year saw the launch of our Jordan Well Project, by which we engaged an intern to work with students at the universities, and our own young people, to welcome them to our fellowship and encourage their spiritual development. This started well, with regular Bible studies, social activities, and the formation of a worship band. With the advent of Coronavirus, the activities had to be continued online, but the band members were able to individually record their parts for some songs, which were then very successfully edited together into worship videos and used in our Sunday services.
From mid-March, the Church Centre and Meeting Place café had to close to comply with coronavirus regulations. While we fully recognise the necessity for these measures, we are sorry that we have been unable to open our premises to welcome and support the many community groups who would normally use them. The Centre staff have been placed on furlough under the Government Coronavirus Job Retention Scheme, which has been a great help to us.
We are grateful for the support of the Regional Ministers and staff of the Heart of England Baptist Association throughout the year, and to the Baptist Union who have provided excellent resources to encourage us and to guide us through the frequently changing regulatory framework.
To summarise, 2020 has been an extremely challenging year, which has forced us to significantly change our ways of working. Nevertheless, we have been encouraged by the way in which our whole fellowship has responded, working hard together to maintain community links, and to adapt our activities to exploit new technology and maximise the opportunities available to us. We have also been blessed by many people coming forward to offer their gifts and abilities to enable us to use innovative ways of expressing our life and faith. We look forward to moving forward under God’s guidance to explore and embrace the new opportunities which will present themselves as we begin to emerge from the pandemic in the coming year.
FINANCIAL REVIEW
Reserves Policy
The assets of the General Fund are needed for the day to day running of the church, and this is in effect the fund from which all the general liabilities are paid, and where all the unrestricted income is placed. It basically covers the working capital of the church. The policy is normally that the balance in the General Fund should cover 2-3 months of budgeted expenditure however, this is currently not being achieved. This is caused by historical reductions in giving, an extraordinary liability related to pensions, and the loss of all income from the Church centre during the pandemic. The trustees are fully aware of this situation and are working with the church membership to develop a plan to resolve this at the earliest opportunity, and ensure the policy is followed going forward. Investment Policy
It is the policy of the Church not to hold investments over and above that required for the day to day running of the church, as stated in the Reserves Policy.
Restricted Funds that have been given for specific causes and are not required in the short-term are held on deposit with the Baptist Union Corporation.
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Incoming Resources
Offerings were £132,039 compared with £124,881 in 2019. £7,300 was received in the form of Gifts, Legacies or Grants (2019: £35,584). The total of other unrestricted income is detailed in the Statement of Financial Activities.
Income from Charitable Activities (predominantly income from use of our premises) reduced to £21,449 (2019:£86,483) as the Covid-19 pandemic meant this activity stopped in March and has yet to resume.
The church remains grateful for all these monies received, but also recognises that financial giving is only a small part of the generous provision to the church. We recognise and are thankful also for the numerous “volunteers” resources which by nature remain unquantified in the accounts – without this significant resource, it would not be possible for the church to operate as it does today.
Expenditure
Expenditure on charitable activities has decreased to £221,508. (2019: £268,909). Staff costs have decreased to £124,055 (2019: £127,543). Outside Giving stands at £ 13,897 (2019: £18,246), representing the church’s continued commitments to support other organisations both within the Baptist family and the wider Christian family, in the UK and overseas – the congregation are also encouraged and given the opportunity to contribute to other appeals and causes directly, rather than through church accounts.
Establishment costs have increased to £53,682 (2019: £ 49,642). The cost of running such a heritage building is increasing and will need further provision as the years go by.
Extraordinary Items
The SOFA contains two extraordinary items which allow for accounting adjustments outside the current financial year. £ 10,425 of income has been added to unrestricted funds, which represents income paid into a bank account previously assumed to be dormant.
An administrative error by the Baptist Pension Fund administrator, dating from 2016 has resulted in the church underpaying pension deficit reduction contributions by £(16,842). This has been added as a liability in these accounts. Whilst the church is legally liable for this payment, the pension fund administrator has agreed to discuss favourable repayment terms in acknowledgement of their error – these negotiations are on-going, with a resolution dependant on the situation after the Coronavirus pandemic.
Balance Sheet Review
Fixed assets are a figure based on the historical cost of the premises and organ. Insurance values 31 December 2020 were £8,582,229 and £442,618 respectively (2019: £8,582,229 and £442,618). Other net assets are employed satisfactorily and are dealt with in the accounts and notes.
Unrestricted cash reserve (calculated by taking the unrestricted fund balance less the fixed asset value included in that fund), was £20,965 at at 31 December 2020 (reduced from £52,914 at 31 December 2019). This reduction was due to the reduced Income from Charitable Activies, and the recognition of the pension fund liability, partly offset by savings in expenditure and the additional income from the dormant account.
Risk Management
Usually, the Finance Team reviews on an annual basis area of financial risk to the church and proposes suitable policies and procedures to minimise these risks. Due to the impact of Covid-19 on our way of being church, we have had to adopt different practices for the duration of the pandemic. In 2021, once the Covid situation has resolved, the
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diaconate will be reviewing the principles and practices by which we manage our finances and making recommendations for the way forward.
Public Benefit
The trustees have had due regard to guidance published by the Charity Commission on public benefit and consider that the charity complies with the requirements.
CONCLUSION
In summary, we continue to be grateful for God’s provision and to trust him for provision for the future and our faithful stewardship under his direction.
Approved on Behalf of the Diaconate on 5[th] July 2021
Iain Colville
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INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF QUEENS ROAD BAPTIST CHURCH
I report on the accounts of the Trust for the year ended 31st December 2020, which are set out on pages 10 to 15.
Respective responsibilities of 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;
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to follow the procedures laid down in the general Directions given by the Charity Commission under section 145(5(b) of the 2011 Act; and
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to state whether matters have come to my attention.
Basis of 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 set out in the statement below.
Independent examiner's statement
In connection with my examination, no matter has come to my attention:
(1) which gives me reasonable cause to believe that in any material respect the requirements:
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to keep accounting records in accordance with section 130 of the 2011 Act; and
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to prepare accounts which accord with the accounting records and comply with the accounting requirements of the 2011 Act
have not been met; or
(2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Date: 9[th] July 2021
Independent Examiner Tom Sydney MBA (FCA – Retired)
Independent Examiner’s Report
10
ANNUAL ACCOUNTS YEAR ENDED 31[st] DECEMBER 2020
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST DECEMBER 2020
| NOTE | UNRESTRICTED FUNDS |
RESTRICTED FUNDS | TOTAL 2020 | ||
|---|---|---|---|---|---|
| Incoming Resources | |||||
| VoluntaryIncome | 2 | £ 146,330 | £ 12,300 | £ 158,630 | |
| Investment Income | £ | £ | £ | ||
| Incoming Resources from Charitable Activities |
£ 21,449 | £ | £ 21,449 | ||
| Other IncomingResources | £32,749 | £ 6,891 | £ 39,640 | ||
| Total Incoming Resources | £ 200,528 | £ 19,191 | £ 219,719 | ||
| Resources Expended | |||||
| Charitable Activities | £ 215,809 | £ 5,699 | £ 221,508 | ||
| Governance Costs | £ 10,251 | £ | £ 10,251 | ||
| Other Resources Expended | £ | £ | £ | ||
| Total Resources Expended | £ 226,060 | £ 5,699 | £ 231,759 | ||
| Net (Outflowing)/Incoming Resources before Transfers |
£(25,532) | £ 13,492 | £(12,040) | ||
| ExtraordinaryItems | 3 | £(6,417) | £(6,417) | ||
| Net Movement in Funds | £(31,949) | £ 13,492 | £(18,457) | ||
| Total Funds brought forward | £ 147,111 | £ 673,133 | £ 820,244 | ||
| Total Funds carried forward | £ 115,162 | £ 686,625 | £ 801,787 |
Notes to the Accounts
11
BALANCE SHEET AS AT 31[ST] DECEMBER 2020
| 2020 | 2019 | ||||
|---|---|---|---|---|---|
| Fixed Assets | |||||
| Tangible Fixed Assets | 4 | £ 717,318 | £ 717,318 | ||
| Current Assets | |||||
| Debtors | 5 | £ 1,000 | £ 1,000 | ||
| Bank Deposits | 6 | £ 46,986 | £ 36,561 | ||
| Cash and Bank | 6 | £ 53,642 | £ 67,372 | ||
| Total | £ 101,628 | £ 104,933 | |||
| Creditors: Amounts due within one year |
7 | ||||
| Accruals and SundryCreditors | £ 17,159 | £ 337 | |||
| Post Box Accounts | £ | £ 1,670 | |||
| Total | £ 17,159 | £ 2,007 | |||
| Net Current Liabilities/Assets | £ 84,469 | £ 102,926 | |||
| Creditors: amounts due after oneyear |
8 | £ | £ | £ | £ |
| Net Assets | £ | £ 801,787 | £ 820,244 | ||
| Charitable Funds | |||||
| Restricted | £ 686,625 | £ 673,133 | |||
| Unrestricted | £ 115,162 | £ 147,111 | |||
| Total | £ 801,787 | £ 820,244 |
These financial statements were approved on behalf of the Diaconate on 5[th] July 2021.
Jonathan White Iain Colville Treasurer Church Secretary
Notes to the Accounts
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NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2020
1) Accounting Policies
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a) The accounts (financial statements) have been prepared under the historic cost convention with items recognized at cost or transaction values unless otherwise stated in the relevant note(s) to those accounts. The financial statements have been prepared in accordance with the Statement of Recommended Practice: Account and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK (FRS102) and the Charities Act 2011.
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b) The Trust constitutes a public benefit entity as defined by FRS102
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c) All income is accounted for on a receipt’s basis except for rents, interest and tax reclaims, which are accounted for on an accrual’s basis. Legacies and grants are accounted for when receivable and included in the period to which they relate.
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d) Equipment, furniture and fittings are written off in the year of purchase. Significant building costs are capitalised and shown on the Balance Sheet as a fixed asset.
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e) No depreciation is charged on the premises and organ as the carrying values are extraordinarily low in comparison to their worth. Maintenance costs relating to these assets are charged to income and expenditure and, in view of their exceptionally long expected useful lives, the trustees believe that consumption of these assets is minimal, and depreciation has therefore been charged at a rate of 0%.
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f) Designations and transfers are made in accordance with the restriction of the Fund, by Finance Team and Church Meeting decisions as appropriate.
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g) All expenditure is accounted for on an accrual’s basis.
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h) The church contributes to pension funds for certain employees. The costs are written off as they are payable.
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i) Government grants received are taken to income in the period to which they relate.
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j) The charity has taken advantage of the exemption for small charities and has not prepared a statement of cash flows.
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k) The financial statements have been prepared on a going concern basis as the trustees believe no material uncertainties exist. The trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The forecast income and expenditure are enough with the level of reserves to be able to continue as a going concern.
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l) The charity has adopted the cost model on adoption of FRS102 and will continue to show land and buildings at cost with a disclosure for insurance values.
2) Voluntary Income
| Unrestricted | Restricted | Endowment | TOTAL 2020 | TOTAL 2019 | ||
|---|---|---|---|---|---|---|
| Offerings | £ 127,039 | £ | £ | £ 132,039 | £ 124,881 | |
| Gifts & Legacies | £ | £ 12,300 | £ | £ 7,300 | £ 35,584 | |
| Gift Aid Reclaim | £ 19,291 | £ | £ | £ 19,291 | £ 33,911 | |
| Grants Received | £ | £ | £ | £ | £ | |
| Total | £ 146,330 | £ 12,300 | £ | £ 158,630 | £ 194,376 |
Notes to the Accounts
13
3) Extraordinary Items
| Unrestricted | Restricted | Endowment | TOTAL 2020 | TOTAL 2019 | |
|---|---|---|---|---|---|
| Bank Balance correction | £ 10,425 | £ 10,425 | £- | ||
| BU Pension scheme deficit | £(16,842) | £(16,842) | £ - | ||
| Total | £(6,417) | £ - | £ - | £(6,417) | £- |
4) Tangible Fixed Assets
| Freehold land & **Buildings ** |
Organ | QR21 Building Project |
TOTAL 2020 |
|
|---|---|---|---|---|
| Historical Cost as at 01/01/20 | £ 77,810 | £ 16,387 | £ 623,121 | £ 717,318 |
| Additions in theyear | £ | £ | £ | £ |
| Historical Cost as at 31/12/20 | £ 77,810 | £ 16,387 | £ 623,121 | £ 717,138 |
The QR21 project was a programme of refurbishment and extension work on the premises of the church. The costs have been capitalised in accordance with the accounting policies, due to the magnitude of the project
5) Debtors
| Accrued Income | TOTAL 2020 | TOTAL 2019 |
|---|---|---|
| Amplification | £ | £ |
| Prepayments and Another debtors/Insurance/Gift Aid | £ | £ |
| Loans made | £ 1,000 | £ 1,000 |
| Total | £ 1,000 | £ 1,000 |
6) Bank and Cash Balances
| TOTAL 2020 | TOTAL 2019 | |
|---|---|---|
| Lloyds | £ 12,156 | £ 1,731 |
| CAF Bank | £ 37,861 | £ 51,591 |
| Other Bank Accounts | £ 12,534 | £ 12,534 |
| BU Corporation | £ 36,561 | £ 36,561 |
| Floats | £ 1,516 | £ 1,516 |
| Loans | £ | |
| Total | £ 100,628 | £ 103,933 |
Notes to the Accounts
14
7) Creditors: Amounts Falling Due Within One Year
| TOTAL 2020 | TOTAL 2019 | |
|---|---|---|
| Loans | £ | £ |
| Accruals | £ 17,159 | £ 337 |
| Post Box Accounts | £ | £ 1,670 |
| Total | £ 17,159 | £ 2,007 |
8) Creditors: Amounts Falling Due After More Than One Year
| TOTAL 2020 | TOTAL 2019 | |
|---|---|---|
| Loans | £ | £ |
| £ | £ |
9) Remuneration and Pensions
Under the provisions of the Charity’s constitution, the charity pays a stipend to its ministers, who are also trustees. Remuneration paid during the year was:
Rev G Banks £36,390
Rev N Martin £26,251
Apart from Ministers, no sums were reimbursed to the Trustees for their work as Trustees.
No employee received emoluments in excess of £60,000 during the year.
The total pension costs for all the relevant church staff was £ 13,059.
The church pays pension contributions for its Ministers to the Baptist Ministers Pension Trust Limited, which is a defined contribution scheme. In addition, deficiency payments are paid to the now closed final salary defined benefit scheme, which is not contracted out of the State second pension.
This scheme is a multi-employer scheme and it is not possible at present to identify the assets and liabilities of the scheme which are attributable to the church. In accordance with FRS17 therefore, the scheme is currently accounted for as a defined contribution scheme.
10) Related Charities
The church is a member of the Baptist Union of Great Britain and the Heart of England Baptist Association.
The church made donations to the Baptist Union Home Mission Fund and BMS World Mission as set out in note 9.
11) Controlling Party
The ultimate controlling party is the diaconate.
12) Financial Risk Management
In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying value of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from estimates. The charity has little exposure to any financial risks due to the fact that there was no trading carried on during the year or since the year-end.
Notes to the Accounts
15