2020-12-31-accounts

DIDCOT BAPTIST CHURCH Annual Report and Financial Statements

Didcot Baptist Church Charity Number 1128696

Annual Report	Pages 2-5
Legal & administrative details	Page 6
Independent Examiner's report	Page 7
Statement offinancial activities	Page 8
Balance sheet	Page 9
Notestothefinancialstatements	Pages10-19

Didcot Baptist Church

ANNUAL REPORT

Annual Report for 2020

The Trustees present their Annual Report and Financial Statements of the charity, Didcot Baptist Church, for 2020.

Charitable Object

The Church is an unincorporated association, governed by a Constitution which states that the principal purpose of the charity is the advancement of the Christian faith according to the Baptist denomination, to include the advancement of education, community service and such other general charitable purposes in such parts of the United Kingdom and the world as the Church will determine.

The Church occupies premises which are held by the Baptist Union Corporation Ltd, on trusts which are entirely compatible with the above object.

Organisational structure and decision-making processes

Members of the Church are accepted in accordance with the Constitution. Baptism by immersion upon personal profession of faith is the normal mode of entry into the membership of a Baptist Church.

Church Membership is open to those who:

• = accept the Beliefs of the Church; =» meet the Church’s qualification on Baptism; = commit themselves to serving Christ within the Church and beyond

• abide by the decisions of the Church Members’ Meeting;

• =» acknowledge their responsibilities as Church Members » have their membership application accepted by the Church Members’ Meeting.

In regards to Baptismai qualification for Church Membership, the Church operates an open membership. It therefore allows for persons who have not been baptised in the manner described in the Baptist Union’s Declaration of Principle may, at the discretion of the Church Members’ Meeting, be accepted for full membership based on their own public profession of faith.

The members’ meeting normally takes place six times per year and has responsibility for the overall policy of the Church. In accordance with the Constitution, the members appoint Trustees, who include the Senior Minister, Associate Minister, Administrator and Treasurer, Elders and Deacons and are collectively known as the Leadership Team who 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 objective.

Relevant matters may be submitted to the Church meeting by the Trustees for guidance and decision, or may be raised by members in Church meeting for further consideration by the Trustees. Though the Constitution permits decisions to be made at Church meetings by appropriate majorities, the Church seeks to work by consensus wherever possible.

Objectives and Activities

During 2020 there was significant disruption to the usual activities of the Church and some of the usual activities listed below were unable to take place. Details of the impact of covid-19 are explained under Achievements and Performance.

{n order to achieve the principal objective which is set out above, the Church provides a variety of activities both for its membership and for the community generally. The 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 Loving Lord. Our vision is “to be a Welcoming Community, following Jesus, and making Him known’.

Central to the work and witness of the Church is the provision of regular public services of Christian worship. These services generally take place each Sunday at 10.30am and 6.30pm. There are also occasional services at other times which are advertised on the church notice board and the website at www.didcotbaptist.org.uk. There is a full children’s programme during the morning services. The church seeks to be a friendly and welcoming community, and anybody is free to attend any of these services.

The Church holds prayer to be of central importance and seeks to incorporate prayer within our regular activities.

Didcot Baptist Church

PAGE 2

ANNUAL REPORT

The Church runs a series of house groups for the growth of faith and discipleship in the homes of some members, and further details of these can be obtained from the Trustees on request, or at the Sunday services of worship.

Whenever possible, the Church makes available its premises, at nominal cost, to community groups. This is done as part of the outworking of our mission statement, and as an acknowledgement of our commitment to serving our community in various ways.

The Church is itself responsible for the following groups with the purpose of assisting the community and demonstrating the love of Jesus Christ:

• e A Toddler Group is run by the church on the Church premises on Tuesday, Wednesday and Thursday mornings. A baby group is run on Wednesday afternoons. The church employs a part-time Toddler & Baby Group Leader to facilitate these groups.

• e A Coffee Break is run on Monday mornings from the Church premises, and is well attended by a mix of people from the church membership and members of the public.

• e An Emergency Foodbank is operated four hours a week from church premises, led by DBC members, but supported by a number of other organisations within the town. This is a practical, community-based project aimed at providing short term relief by giving food to people in crisis in our local area.

• e Amonthly mid-week communion service is held.

• e A weekly meeting point for the older people of the area provides a varied programme of events and speakers. This is known as Welcome Break and attracts up to 50 people each week.

• e A monthly games club attracting a wide variety of people from the community interested in board games and social interaction games.

• e Occasional men’s events.

• e An occasional Saturday craft event for women and some socials.

The church also runs a Girls' Brigade Company which provides girls and young women with the opportunity to explore faith, develop leadership and life skills, and to engage in social action.

A youth club meets fortnightly as part of a range of activities for young people.

From time to time the Church runs courses for people interested in discovering more about Christianity.

Our ministers and other volunteer church members support faith engagement in schools such as assemblies.

The Church operates a system to ensure that all people working with children are appropriately vetted with regard to the Disclosure and Barring Service. It also has a policy with regard to working with adults at risk.

The Church is a member of the Baptist Union of Great Britain and the Evangelical Alliance. It also has a twinning arrangement with a Baptist church in El Salvador. This arrangement has enabled the church to support university students and to provide housing in El Salvador as part of its mission strategy. This year we also held our first joint online service together. The Church is a member of an inter-denominational forum in the town, Churches Together in Didcot and District.

Working alongside other churches in Didcot, the church has participated in:

• e Prayer Spaces in Schools e Community social action days known locally as ‘Soul in Didco? (not held in 2020) e Summer outreach to children, known as ‘Treasure Times’, held on the church premises (not held in 2020)

• e Didcot and Wallingford Area Christians Against Poverty Debt Centre (registered charity 1160343)

The Church has read the Charity Commission guidance on public benefit, and is satisfied that the activities outlined above, clearly demonstrates that the charity is providing a benefit to the public.

Didcot Baptist Church

PAGE 3

ANNUAL REPORT

Achievements and Performance

The Church does not measure the success of its programmes only in numbers, including financial numbers, but also in less tangible areas. These would include the practical and emotional support of individuals and families within the church and the wider community. Also, through our support of churches, projects and organisations with a national and international reach, the impact of the church is seen in the spiritual and physical transformation of lives in places far from our church.

The Trustees recognise that these are difficult to measure, but believe that 2020 was a positive year in the life of the church, despite the impact of covid-19, and that it will be able to pursue similar mission purposes in 2021 with renewed enthusiasm.

During 2020 two new members were welcomed into membership, one resigned, and sadly two died, making a membership on 31 December 2020 of 139.

Typical adult attendances at Sunday worship were 120-140 in the morning and 25 in the evening, until all church services moved online at the beginning of the first lockdown and remained so for the rest of the year. On Zoom the typical number of devices connected was 90 each Sunday morning which we estimate to represent approximately 150 adults and children. Sunday evening services ceased.

Through its regular activities, prior to the pandemic, the church was in contact with approximately 120 children (aged 0-11 years), and approximately 40 young people (aged 12-18 years). During the pandemic, many (but not all) of the activities were able to transition online. Whilst this has helped to keep contact going with a good amount, not all the youngsters have connected with this format, contributing to a drop in the number of those regularly engaged with. To address this, where possible, the church has sought to engage in other creative ways throughout the year e.g. sending messages and gifts to help the youngsters know that they are not forgotten.

Other activities, including house groups and Girls Brigade also moved online.

There were no baptisms during the year.

The church runs Didcot Foodbank which remained open throughout the pandemic and distributed food to 3,044 adults and children during the year (2019: 2,090); this figure includes some repeat visits. Didcot Foodbank is supported by other agencies and churches in the area. In addition, 15 hampers were distributed to needy families at Christmas identified through working with another charity active in the town, namely Christians Against Poverty debt centre (registered charity 1160343). The Foodbank sawa big increase in support from the community of Didcot and the surrounding district during the year resulting in income increasing from £3.2k to £35k, facilitated by the introduction of an online facility for donations. This was alongside the continued regular donations of food and other supplies.

Sadly our Time-for-God volunteer intern from Ghana had to return home early at the beginning of the pandemic.

The church makes our premises available for hire by groups external to the church. This activity was suspended at the onset of the pandemic and has not resumed. The church employs a part-time Centre Manager, primarily to facilitate hiring by external groups. This role has been redeployed since March 2020.

Financial Review

The church continues to raise the funds which it needs to carry on its activities from within its own membership and congregation. General fund donation income decreased by 6%, mainly as a result of not meeting in person. In addition income from the rental of the premises dropped by 90% from the previous year as all rent ceased at the first lockdown. A very large donation of £100k was received unrestricted and was designated for the redevelopment project. Restricted fund income remained high as a result of the receipt of a number of grants and continued donations towards the premises redevelopment project. The project started later than originally anticipated but is now complete and the redeveloped area of the building is reopened, although the celebration remains on hold. Some minor works are being completed in 2021 and the retention payment is due for payment in November 2021. General Fund expenditure was higher than in the previous year, mostly due to having the first full year of the Associate Pastor’s costs and the replacement of the bathroom in the manse. Restricted expenditure reflects the costs of the redevelopment of the church premises. These costs were expensed rather than capitalised as the property is held at valuation.

The most significant of our general fund expenses relates to the payment of staff to lead and co-ordinate the church’s activities including the Sunday Services, to provide pastoral care for the congregation and other people, and to equip and encourage the membership in their life, Christian witness and service. The church also employs (part-time) an Office Manager, a Centre Manager and a Toddler Group Leader.

Didcot Baptist Church

PAGE 4

ANNUAL REPORT

The Church expressed its part in the life of the wider church by making grants (19% of unrestricted donations) to local, national and international organisations and societies with Christian aims and objectives compatible with the church’s own charitable purpose.

The Church is heavily dependent on its membership working as volunteers in all aspects of the church's activities, many of which run with little or no impact on the church's expenditure, but nevertheless contribute substantially to the achievement of the church’s objectives.

During the year, despite an initial delay due to covid-19, the church undertook a major redevelopment project to remodel the front of the church, providing an enlarged, light, modern entrance hall and further meeting space. This redevelopment, amongst other benefits, will enable the church to provide more community-focused activities, once covid-19 restrictions are lifted, and has updated the building for the future. The work was substantially complete at 31 December, except for one area of work which was completed in May 2021 once the electricity company had moved the incoming supply, work which was delayed as a result of the pandemic. This project was funded by donations given by the church, grants received and with some funds allocated from general reserves. The total cost of the project was £545k of which £530k was incurred during 2020.

The financial results for the year, together with a summary of the accounting policies adopted are set out in the

accompanying financial statements.

The Trustees have established a Reserves Policy that requires a minimum of three months’ expenditure be held in General Reserves at any time. The balance held at the end of the year represented five months’ expenditure (£73k). The Trustees are satisfied they have more than sufficient reserves at the Balance Sheet date, together with on-going income anticipated, to enable the church to function effectively in the coming year.

Events following the year end

In November 2020, the church held a pledge day to raise pledges to support the employment of a part-time Children and Youth Director which reached its target. The original intention was that this role would be split 50/50 with a new local trust being established for youth work across Didcot and neighbouring villages. However the timetable for establishment of the trust has been delayed, awaiting the award of grant funding.

On 1 January 2021, the church engaged a Children and Youth Director on a three month contact, ahead of the establishment of the trust. To-date the grant to establish the trust has not yet been received and so the contract has been extended to six months.

Signed by Pastor Tim O’Brien on behalf of the Trustees:

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or / i y P F;
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Date: 25 May 2021

Didcot Baptist Church

PAGE 5

LEGAL INFORMATION

The church is a registered charity number 1128696.

CHURCH ADDRESS Didcot Baptist Church 43 Wantage Road Didcot Oxfordshire OX11 OBS Tel: [phone]

TRUSTEES

The Elders and Deacons who held office during the year, and until the signing of the accounts, were: David Kerrigan George Ferguson Hannah Field Timothy Lockett (until 19 May 2020) Joanna Schider Martin Clegg Hazel Grant (from 14 July 2020) lan Parnham (from 15 September 2020) Sarah West Tayo Adeyemi (from 17 November 2020)

CHURCH TREASURER (also Trustee) Kate Andrews

CHURCH MINISTERS (also Trustees) Rev Tim O’Brien Louise Brown

BANKERS

Charities Aid Foundation 25 Kings Hill Avenue Kings Hill West Malling Kent ME19 4JQ

INDEPENDENT EXAMINER Richard Wilson

Didcot Baptist Church

PAGE 6

INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES AND MEMBERS OF DIDCOT BAPTIST CHURCH

| reportio the trustees on my examination of the accounts of the Church forthe year ended 31 December 2020, which are set out on pages8 to 19.

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 auditis not required forthis year under section 144 of the Charities Act 2011 (‘the Charities Act’) and that an independent examination is needed.

• it is my responsibility to:

• e examine the accounts under section 145 of the Charities Act, ® to follow the procedures laid down in the general Directions given by the Charity Commission (under section 145(5)(b) of the Charities Act, and

• e to state whether particular matters have come to my attention

Basis of Independent Examiner’s Statement

My examination was carried outin accordance with 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 the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequenily no opinion is given as to whether the accounts presenta ‘true and fair view and the reportis Jimited to those matters set out in the statementbelow.

independent Examiner’s Statement

The charity’s gross income exceeded £250,000 and lam qualified to undertake the examination by being a Fellow of the Chartered Institute of ManagementAccountants.

In connection with my examination, no material matters have come to my attention which gives me causeto believe that in, any material respect:

• e the accounting records were not Kept in accordance with section 130 of the Charities Act; or e the accountsdid not accord with the accounting records;or e the accounts did not comply with the applicable requirements concerming the form and contentof accounts set outin the Charities (Accounts and Reports) Regulations 2008 other than any requirementthatthe accounts give a ‘true and fair view which is not a matter considered as part of an independentexamination.

| have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this reportin orderto enable a proper understanding of the accounisto be reached.

a ~ ow 24/5/2021

Richard Wilson, FCMA

Didcot Baptist Church

Pace 7

STATEMENT OF FINANCIAL ACTIVITIES

For the year ended 31 December 2020

	Notes	Unrestricted Funds	Restricted Funds	Endowed Funds	Totals 2020	Totals 2019
		£	£	£	£	£
Income
Donations and legacies	2	235,269	190.343	=	425,612	312,612
Income from investments	3	AA217	-	=	11217	10,928
Income from charitable activities	4	-	2,563	=	2,563	10,552
Othertradingincome	5	2,066	-	.	2,066	19,974
Other income	6	2,856	-	:	2,856	220
Total Income		251,408	192,906	:	444,314	354,286
Expenditure
Expenditure on charitable activities	rf	159,915	567,928	=	727,843	164,648
Otherexpenditure	8	1,270	-	=	1,270	1,891
Total expenditure		161,185	567,928	-	729,113	166,539
Net income/(expenditure)		90,223	(375,022)	:	(284,799)	187,747
Transfers between funds		(233,607)	233,607	-	=	=
Gains on revaluation ofproperty	12	13,936	-	7	13,936	65,357
Actuarial gains/(losses) on defined benefit pension scheme	21	24,291	-	-	24,291	(1,093)
Netmovement in funds		(105,157)	(141,415)	-	(246,572)	252,011
Fund balances at 1 January		432,220	191,845	2,217,090	2,841,155	2,589,144
Fundbalancesat31December		327,063	50,430	2,217,090	2,594,583	2,841,155

All the above results are derived from continuing activities. All gains and losses recognised in the year are included above. The notes on pages 10 to 19 also form part of these financial statements.

Didcot Baptist Church

PAGE 8

		BALANCE SHEET	BALANCE SHEET
		For the year ended 31 December2020
	Notes	2020	2019
		£	£
Fixed assets
Tangible assets	13	2,519,382	2,511,085
Current assets
Debtors Cash at bank and in hand	14 16	40,893 146,729	30,568 378,143
Total current assets		187,622	408,711
Creditors: amounts falling due within one year	16	(63,849)	(902)
Net current assets		123,773	407,809
Net assets excluding pension liability		2,643,155	2,918,894
Defined benefit pension scheme liability	2	(48,572)	(77,739)
Total netassets		2,594,583	2,841,155
Funds
Endowed funds	17	2,217,090	2,217,090
Restricted funds	18	50,430	191,845
Unrestricted funds
Designated funds	19	302,293	403,995
General fund		73,342	105,964
Unrestricted funds excluding pension reserve		375,635	509,959
Pension reserve	21	(48,572)	(77,739)
Total unrestricted funds		327,063	432,220
Totalfunds		2,594,583	2,841,155

The financial statements on pages 8 to 18 were approved by the Trustees at a meeting of Elders and Deacons and signed on their behalf by:

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Lok. Lbes
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Kate Andrews, Treasurer

Date: 25 May 2021

The notes on pages 10 to 19 also form part of these financial statements.

Didcot Baptist Church

PAGE 9

NOTES TO THE FINANCIAL STATEMENTS

For the year ended 31 December 2020

1 Accounting Policies

Basis of preparation

The financial statements have been prepared in accordance with the Charities Statement of Recommended Practice (Charities SORP 2015), FRS102 and with the Charities Act 2011.

The financial statements have been prepared on the going concern basis and under the historical cost convention as modified by the revaluation of properties. The Trustees have reviewed the church’s forecasts and projections, and consider that the church is well placed to manage the risks it faces, with an appropriate level of reserves and cash balances. The Trustees therefore have reasonable expectation that the church has sufficient resources to continue in operational existence for the foreseeable future and believe there are no material uncertainties that call into doubt the ability of the church to continue as a going concern. Therefore the going concern basis has been adopted in preparing the financial statements.

Didcot Baptist Church is a registered charity, no. 1128696 and meets the definition of a public benefit entity under FRS102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.

Income recognition

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

Donations

Donations are accounted for gross when received. Fixed asset gifts in kind are recognised when receivable and are included at fair value.

Legacies

Legacies are accounted for when notified of entitlement, providing the amount can be accurately measured and receipt is probable.

Investment income

Investment income is included in the accounts in the year in which it is receivable.

Expenditure recognition

All expenditure is accounted for on an accruals basis. Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties, it is probable that settlement will be required and the amount of the obligation can be measured reliably.

Costs of raising funds

The church does not make formal appeals for funds, and expenditure on these items is therefore not material.

Grants Payable

This Church makes grants to other organisations whose charitable objectives complement its work. They are accounted for when the recipient has been notified of the grant and payment is unconditional.

Support Costs

Support costs are those that assist the work of the church but do not directly represent charitable activities and include office costs and governance costs. Where support costs cannot be directly attributed to particular headings, they have been allocated to the cost of raising funds and expenditure on charitable activities on a basis consistent with the use of resources. This represents direct expenditure on the governance of the church. Most of the management is carried out without charge by volunteers. These intangible costs are not included in the Statement of Financial Activities since there is no measurable cost to the volunteers for their service.

Fixed Assets

Tangible fixed assets are capitalised if they can be used for more than one year and cost at least £250. They are initially recognised at cost, or for donated assets, as a reasonable estimate of their value on receipt.

There is no reliable information available for the cost of the church premises or the manse and so on first time adoption of FRS102, the insurance value used previously was adopted as deemed cost. Both properties are revalued each year based upon the insurance valuation as reliable cost information is not available.

Didcot Baptist Church

PAGE 10

NOTES TO THE FINANCIAL STATEMENTS

For the year ended 31 December 2020

1 Accounting Policies (continued)

Depreciation Depreciation is provided on all fixed assets, other than freehold land, to write off the cost on a straight line basis over their expected useful life, at the following rates:

Freehold land Nil Furniture and fittings 4 years Computer equipment 3 years

Depreciation has not been charged on the church premises and the manse as they are revalued each year on the basis of the insured value.

Funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.

Designated funds comprise unrestricted funds that have been set aside by the trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The cost of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes fo the financial statements.

Endowment funds represent those assets which must be held permanently by the charity, principally the Church premises reserve. Income arising on the endowment funds can be used in accordance with the objects of the charity and is included as unrestricted income. Any capital gains or losses arising on revaluation of the property form part of the fund.

Employee benefits

The charity operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the charity pays fixed contributions into a separate entity. Once the contributions have been paid the charity has no further payments obligations. The contributions are recognised as an expense when they are due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the charity in an independently administered fund.

Prior to 2012 pension provision was made through multi-employer defined benefit pension plans. Where it is not possible for the charity to obtain sufficient information to enable it to account for a plan as a defined benefit plan, it accounts for the plan as a defined contribution plan.

Where the plan is in deficit and where the charity has agreed, with the plan, to participate in a deficit funding arrangement, the charity recognises a liability for this obligation. The amount recognised is the net present value of the contributions payable under the agreement that relate to the deficit. This amount is expensed in the Statement of Financial Activities. The unwinding of the discount is recognised as a finance cost.

2 Donations and legacies

	Unrestricted	Restricted	Totals 2020	Totals2019
	Funds	Funds
	£	£	£	ea
Donations and grants	213,679	181,585	395,264	269,692
Tax refunds	21,590	8,758	30.348	42,920
Total	235,269	190,343	425,612	312,612

In 2019 £171,159 of the donations and legacies income was attributable to restricted funds, with the remaining £141,453 being attributable to unrestricted funds.

Didcot Baptist Church

PaGE 11

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NOTES TO THE FINANCIAL STATEMENTS
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For the year ended 31 December 2020

3 Investment Income

	Unrestricted	Restricted
	Funds	Funds	Totals 2020	Totals 2019
	£	£	£	£
Bank interest	1,572	-	1,572	1,340
Manse rental	9,645	:	9,645	9,588
Total	11,217	-	41,217	10,928

In 2019, all of the investment income was attributable to unrestricted funds.

4 Income from Charitable Activities

	Unrestricted	Restricted
	Funds	Funds	Totals 2020	Totals 2019
	£	=	£	£
Income from church activities	-	2,563	2,563	10,387
Fundraising events	-	-	-	165
Total	-	2,563	2,563	10,552

In 2019, £164 was attributable to unrestricted funds and £10,388 was attributable to restricted funds.

5 Trading income Trading income arises from the rental of the premises to community organisations when not in use for church activities. All income is unrestricted.

6 Other income

		Unrestricted	Restricted
		Funds	Funds	Totals 2020	Totals 2019
		£	£	£	£
Government	grants	2,510	-	2,510	-
Other		346	-	346	220
		2,856	-	2,856	220

In 2019, £16 was attributable to restricted funds and £204 was attributable to unrestricted funds. The organisation furloughed one team member during the year where activities were unable to take place due to covid-19 and claimed a grant under the Job Retention Scheme.

7 Charitable Activities

		Unrestricted	Restricted
		Funds	Funds	Totals 2020	Totals 2019
		£	£	£	£
Ministry		88,268	-	88,268	61,715
Mission		24,464	8,433	32,897	30,766
Establishmentand	Premises	47,219	559,495	606,714	72,167
		159,951	567,928	727,879	164,648

In 2019, £4,068 mission costs and £29,966 establishment and premises costs were attributable to restricted funds.

Ministry includes the costs of those employed to carry out the ministry of the church, including minsters and youth workers. Mission represents grants made and outreach activities. Establishment and premises includes support costs for the church, premises costs and the fellowship activities of the church including the costs of services, children and youth groups, other fellowship groups and an employed toddler group leader.

During 2020 the church undertook a major redevelopment of the premises, reconfiguring the front entrance hall to create a larger, more usable space and help the building to appear more welcoming. This work has been expended from restricted funds raised rather than capitalised, as the church premises are held at insurance valuation within the accounts.

Didcot Baptist Church

PAGE 12

NOTES TO THE FINANCIAL STATEMENTS

For the year ended 31 December 2020

7 Charitable Activities (continued)

Support costs are included in Establishment and premises and the amounts included within these figures are broken down as follows:

		Unrestricted	Restricted
		Funds	Funds	Totals 2020	Totals 2019
		£	Eg	£	£
Administration		10,618	-	10,618	11,394
IT		4,434	-	4,434	3,237
Subscriptions		665	-	665	673
Bank	charges	67	205	272	65
		15,784	205	15,989	15,369
2019	all supports costs were attributable to unrestricted funds.
	Other expenditure
		Unrestricted Funds	Restricted Funds	Totals2020	Totals2019
		£	£	£	£
Interestchargeonpensionliability		1,270	-	1,270	1,891

In 2019 all supports costs were attributable to unrestricted funds.

8 Other expenditure

In 2019, all other expenditure was attributable to unrestricted funds.

9 Grants payable

Grants payable
	Unrestricted	Restricted
	Funds	Funds	Totals 2020	Totals 2019
	£	£	£	E
Home Mission —core grant	7,975	-	7,975	8,517
BMS World Mission — core grant	7,975	-	7,975	8,876
El Salvador	-	3,008	3,008	2.499
TRAIN (Detached Youth Workers)	2,514	es	2,514	2,514
Christians against Poverty	5,000	-	5,000	5,000
Other grants and special gifts	600	299	899	3,360
	24,064	3,307	27,371	30,766

In 2019, £4,068 grants payable were attributable to restricted funds.

10 Net income for the year

2020 2019 £ £

Net income for the year is stated after charging/(crediting) Independent examiners’ remuneration

Didcot Baptist Church

PAGE 13

For the year ended 31 December 2020

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NOTES TO THE FINANCIAL STATEMENTS
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11 Staff costs and Trustees’ expenses

	2020	2019
	£	ber
Salaries	75,354	51,575
Social security costs	1,166	219
Pension costs	6,655	4,537
Other remuneration	11,015	10,817
	94,190	67,148

The average number of full-time equivalent employees in the year was 3 (2019: 3). No employee received emoluments in excess of £60,000 during the year (2019: none).

The Senior Minister and the Associate Minister both act as the church’s trustees in accordance with the constitution and with formal assent from the Charity Commission.

Rev O’Brien received remuneration and benefits of £44,701 (2019: £43,733) in respect of his services as Minister, including the provision of manse accommodation rented by the church from the Minister. L Brown received remuneration of £33,273 (2019: £10,851) and other benefits in respect of her services as Minister.

E£nil in total was reimbursed to the Trustees in respect of expenses incurred as Trustees (2019: £nil). The ministers, who are also Trustees, are deemed to have incurred expenses in discharging their duties as ministers, rather than as Trustees.

The church pays pension contributions for its Ministers to the Baptist Ministers Pension Trust Limited, which is a final salary defined benefit scheme, which is not contracted out of the State second pension. The scheme is a multi-employer scheme and it is not possible to identify the assets and liabilities of the scheme which are attributable to the church. Therefore, in accordance with FRS102 Section 28, the liability to the scheme is accounted for on the basis of a discounted cashflow of contributions due under the Schedule of Contributions.

Total aggregate remuneration paid to key management personnel during the year was £77,974 (2019: £54,584). 12 Gains and losses on revaluation of fixed assets held for the charity’s own use Gains on property assets were recognised during the year, based on the revised insurance valuations received from the Baptist Insurance Company PLC.

		2020	2019
		£	£
Church	premises	-	56,189
Manse		13,936	9,168
		13,936	65,357

Following the completion of the redevelopment works, the insurance surveyor visited the premises and the figure for the insurance valuation was maintained at the same value in the previous year.

Didcot Baptist Church

PAGE 14

NOTES TO THE FINANCIAL STATEMENTS

For the year ended 31 December 2020

13	Tangible fixed assets
		Church Premises	Manse	Furniture and Fittings	Computer Equipment	Total
		£	£	£	£	£
	Cost
	At 1 January 2020	1,980,357	250,000	43,917	1,924	2,276,198
	Additions	=	=	n	-	:,
	At 31 December2020	1,980,357	250,000	43,917	1,924	2,276,198
	Depreciation
	At 1 January 2020	-	-	30,175	460	30,635
	Depreciation charge	-	-	4,997	642	5,639
	At 31 December 2020	-	-	35,172	1,102	36,274
	Gain/loss on revaluation
	At 1 January 2020	236,733	28,789	-	-	265,522
	Gain/(loss) forthe year	-	13,936	-	-	13,936
	At 31 December 2020	236,733	42,725	-	-	279,458
	Net book value
	31 December2020	2,217,090	292,725	8,745	822	2,519,382
	31December2019	2,217,090	278,789	13,742	1,464	2,511,085

All of the fixed assets are used for direct charitable purposes.

The church is the beneficial owner (subject to the relevant trusts) of two premises, the legal titles to which are held by the church’s custodian trustee, the Baptist Union Corporation Ltd. These are the church premises and the adjacent manse. The value stated for both properties is their insured value.

14 Debtors

		2020	2019
		£	£
	Accrued income	40,839	30,307
	Prepayments and other debtors	54	261
		40,893	30,568
15	Bank and cash balances
		2020	2019
		£	£
	Cash at bank	136,217	367,166
	Other (organisation accounts)	10,512	10,977
		146,729	378,143

Didcot Baptist Church

PAGE 15

NOTES TO THE FINANCIAL STATEMENTS

For the year ended 31 December 2020

16 Creditors: amounts falling due within one year

	2020	2019
	£	£
Accruals	13,590	694
Deferred income	164	208
Other creditors	95	-
Short term loan (see note 22)	50,000	-
	63,849	902

Accruals include £12,565 for the retention payable on the premises redevelopment, not due until November 2021.

17 Endowment Funds

			At	1 January		At 31 December
				2020	Gains/(losses)	2020
				£	£	£
Church	Premises	reserve		2,217,090	-	2,217,090

The Church Premises reserve represents the value attributed to the Church premises, the legal title to which is held by the church’s custodian trustee, the Baptist Union Corporation Ltd.

18 Restricted funds

	1 January	Incoming	Resources	Transfers	31 December
	2020	resources	expended		2020
	£	£	£	£	£
Restricted funds
Developmentfund (refurbishment)	32,767	3,425	(25,787)	(9,405)	1,000
Premises redevelopment	139,556	147,427	(529,990)	243,007	-
Foodbank	6,166	35,040	(5,551)	-	35,655
Other restricted funds under£3,000	3,425	4,441	(3,524)	5	4,347
Church organisations	9,931	2,573	(3,076)	-	9,428
TotalRestrictedFunds	191,845	192,906	(567,928)	233,607	50,430

The Development Fund for refurbishment was established to carry out a programme of refurbishment to the existing church premises which is now substantially complete.

The Premises Redevelopment Fund represents funds raised for the redevelopment project which was approved by the church during 2019 and was undertaken during 2020.

The Foodbank fund represents funds received to support the local foodbank in Didcot which is an activity of the church.

	Fixed Assets	Current	Total
		Assets
	£	£	£
Restricted funds
Development fund (refurbishment)	=	1,000	1,000
Premises redevelopment	-	&	s
Foodbank	=	35,655	35,655
Other restricted funds under£3,000	-	4,347	4,347
Church organisations	-	9,428	9,428
	=	50,430	50,430

Didcot Baptist Church

PAGE 16

NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 December 2020

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19 Designated funds
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Designated funds
	1	January	Incoming	Resources	Gains and‘	Transfers		31 December
		2019	resources	expended	losses			2020
		S	£	£	£		z	£
Designated funds
Fixed assets reserve		293,995	-	(5,638)	13,936	-		302,293
Premises redevelopment		110,000	-	-	-	(110,000)		-
		403,995	-	(5,638)	13,936	(110,000)		302,293

The fixed assets reserve represents amounts set aside equivalent to the net book value of property and equipment used by the church and purchased from unrestricted funds.

	Fixed Assets	Current	Total
		Assets
	£	£	£
Designated funds
Fixed assets reserve	302,293	-	302,293
Premises redevelopment	-	-	-
	302,293	-	302,293

Movements on the pension reserve are set out in note 21.

20	Analysis of netassets
		Fixed Assets	Net Current	Long term	Total
			Assets	liabilities
	Analysis of net assets	£	£	e	re
	Endowment funds	2,217,090	-	=	2,217,090
	Restricted funds	-	50,430	=	50,430
	Designated funds	302,293	=	=	302,293
	Unrestricted funds	-	73,342	=	73,342
	Pension reserve	-	-	(48,572)	(48,572)
		2,519,383	123,772	(48,572)	2,594,583

21 Pensions

The Church is an employer participating in a pension scheme known as the Baptist Pension Scheme (“the Scheme”), which is administered by the Pension Trustee (Baptist Pension Trust Limited). The Scheme is a separate legal entity and the assets of the Scheme are held separately from those of the Employer and the other participating employers.

For any month, each participating employer in the Scheme pays contributions as set out in the Schedule of Contributions in force at that time.

The Scheme is considered to be a multi-employer scheme as described in Section 28 of FRS 102. This is because it is not possible to attribute the Scheme’s assets and liabilities to specific employers and means that contributions are accounted for as if the Scheme were a defined contribution scheme. The pensions costs charged to the SoFA in the year are contributions payable towards benefits and expenses accrued in that year, plus any impact of deficiency contributions (see below).

The Ministers are eligible to join the Scheme.

From January 2012, pension provision has been made through the Defined Contribution (DC) Plan within the Scheme. In general, members pay 8% of their Pensionable Income and employers pay 6% of members’ Pensionable Income into individual pension accounts. In addition, the employer pays a further 4% of Pensionable Income to cover Death in Service Benefits, administration costs, and an associated insurance policy which provides income protection for Scheme members in the event that they are unable to work due to long-term incapacity. This income protection policy has been insured by the Baptist Union of Great Britain with Aviva.

Didcot Baptist Church

PAGE 17

NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 December 2020

21 Pensions (continued)

Benefits in respect of service prior to 1 January 2012 are provided through the Defined Benefit (DB) Plan within the Scheme. The main benefits for pre-2012 service were a defined benefit pension of one eightieth of Final Minimum Pensionable Income for each year of Pensionable Service, together with additional pension in respect of premiums paid on Pensionable Income in excess of Minimum Pensionable Income. The Scheme, previously known as the Baptist Ministers’ Pension Fund, started in 1925, but was closed to future accrual of defined benefits on 31 December 2011.

Actuarial valuation as at 31 December 2019

A formal valuation of the Defined Benefit (DB) Plan was performed at 31 December 2019 by a professionally qualified Actuary using the Projected Unit Method. The market value of the DB Plan assets at the valuation date was £298 million.

The valuation of the DB Plan revealed a deficit of assets compared with the value of liabilities of £18 million (equivalent to a past service funding level of 94%). As a result of the valuation, in addition to the contributions to the DC Plan set out above, it was agreed that the standard rate of deficiency contributions from churches and other employers involved in the DB Plan will remain at previously agreed levels, increasing each year in line with increases in the Minimum Pensionable Income. The deficiency contributions are broadly based on 12% of Pensionable Income/ Minimum Pensionable Income, reflecting each employer's contributions in March 2015. Some employers that were involved in the DB Plan for a short period pay lower contributions. The Trustee and the Council agreed a 50% reduction for all deficiency contributions payable between 1 July 2020 to 31 December 2020

In addition, the Baptist Union of Great Britain agreed to contribute a lump sum of £0.5m by 31 December 2020. The current Recovery Plan dated 30 September 2020 envisages deficiency contributions continuing until 30 June 2026.

The key financial assumptions underlying the valuation were as follows

Type ofassumption	% pa
RPI price inflation assumption	3.20
CPI price inflation assumption	2.70
Minimum Pensionable Income increases	3.20
Assumed investment returns
- Pre-retirement	2.95
- Post retirement	1.70
Deferred pension increases
- Pre-April2009	3.20
- Post-April 2009	2.50
Pensionincreases	2.70

• Post-retirement mortality in accordance with 80% of the SSNFA and S3NMA tables, with allowance for future improvements in mortality rates from 2013 in line with the CMI 2019 core projections, with a long term annual rate of improvement of 1.75% for males and 1.5% for females, with the core smoothing parameter and with additional initial mortality improvement factor A=0.5%.

The next actuarial valuation of the DB Plan within the Scheme is due to take place not later than as at 31 December 2022.

Didcot Baptist Church

PAGE 18

NOTES TO THE FINANCIAL STATEMENTS

For the year ended 31 December 2020

21 Pensions (continued)

Movement in Balance Sheet liability

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

liability. The

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|||||||||||| |---|---|---|---|---|---|---|---|---|---|---| |2020|2019| |£|£| |Balance|sheet|liability|at|year|start|77,739|82,772| |Minus|deficiency|contributions|paid|(6,146)|(8,017)| |Interest|cost|(recognised|in|SoFA)|1,270|1,891| |Remaining|change|to|balance|sheet|liability*|(recognised|in|SoFA)|(24,291)|1,093| |Balance|sheet|liability|at year end|48,572|77,739|

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• Comprises any change in agreed deficit recovery plan and change in assumptions between year-ends.

This liability represents the present value of the deficit contributions agreed as at the accounting date and has been valued using the following assumptions set by reference to the duration of the deficit recovery payments:

----- Start of picture text -----
|||||||||| |---|---|---|---|---|---|---|---|---| |31|Dec|2020|31|Dec|2019|31|Dec|2017| |Discount|rate|0.4%|1.7%|2.4%| |Future|increases|to|Minimum|Pensionable| |Income|3.0%|3.2%|3.2%|

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22 Related Charities and Related Party Transactions

The custodian Trustee of the church is the Baptist Union Corporation Limited (Registered Charity No. 249635) which is controlled by the Baptist Union Council. The church is also a member of the Baptist Union of Great Britain and the Southern Counties Baptist Association.

Hannah Field, Trustee, was employed by the BMS World Mission (BMS) (Registered Charity No. 1174364) until 13 November 2020.

Rev. Tim O'Brien is a Trustee of Didcot and Wallingford Area CAP Debt Centre (Registered Charity No. 1160343), a charity supported by the church. It received grants of £5,000 from the church in 2020 (2019: £5,000).

The church rents back the property belonging to Rev. Tim O’Brien as part of his remuneration as set out in note gee

D Kerrigan, a trustee, made a short-term interest free loan to the church in two instalments in November and December 2020. The loan was repaid in full on 24 February 2021 upon receipt of funds at maturity of a six month notice account.

23 Capital Commitments

At 31 December 2020, the church had capital commitments of £8,104 outstanding relating to the church premises redevelopment project, consisting of works not yet completed (due in May 2021). (2019: none).

Didcot Baptist Church

Pace 19