DIDCOT BAPTIST CHURCH Annual Report and Financial Statements[31][December][2022] ee[Year][ ended] 

Didcot Baptist Church Charity Number 1128696 



| 

CONTENTS | 

## Annual Report 

|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 2022 

The Trustees present their Annual Report and Financial Statements of the charity, Didcot Baptist Church, for 2022. 

## 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 trust 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 

- s have their membership application accepted by the Church Members’ Meeting. 

In regards to Baptismal qualification for Church Membership, the Church operates an open membership. It therefore allows that 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, Children and Youth Director, 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 object. 

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 

In 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 take place each Sunday at 10.30am. There is sometimes also an additional service at 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. A varied programme is also provided for children and young people, on Sundays and also throughout the week. 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. 

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. 

Didcot Baptist Church 

PAGE 2 



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ANNUAL REPORT| 

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 activities 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 group was often 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. In 2023 this will become Coffee & Co which will run three days a week. 

- 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 and volunteers. This is a practical, communitybased project aimed at providing short term relief by giving food to people in crisis in our local area. 

   - 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 35 people each week. 

   - e Amonthly games club attracting a wide variety of people from the community interested in board games and social interaction games. 

   - e A Girls’ Brigade Group which provides girls and young women with the opportunity to explore faith, develop leadership and life skills, and to engage in social action. 

   - e Occasional men’s events. 

   - e A pastoral team who meet regularly to pray for the church family and provide support through difficult situations and life challenges. 

In partnership with other Churches in the Greater Didcot area, DBC supports the Greater Didcot Christian Children’s and Youthwork Trust (registered charity 1194345), operating under the name of ECHO. The ECHO project is focused on helping young people to discover and follow Jesus, by developing a range of provisions €.g., a sports outreach (Soul Sport), Youth Café, and Discipleship Hub. 

Also in partnership with other Churches in Didcot and the surrounding area, DBC supports the work of Didcot and Wallingford Area Christians Against Poverty Debt Centre (registered charity 1160343) (CAP). The Didcot branch of CAP have their office on the church premises and use the space also for prayer meetings, some client visits and celebration events. Our Children and Youth Director and other volunteer church members support faith engagement in local schools e.g. serving as Governors and attending assemblies. 

The Church operates a safeguarding system to ensure that all people working with children and adults at risk are appropriately vetted through the Disclosure and Barring Service and receive regular safeguarding training. 

The Church is a member of the Baptist Union of Great Britain, the Evangelical Alliance and Welcome Churches. It also has a twinning arrangement with a Baptist Church in El Salvador. Over the years, this arrangement has enabled the church to support university students and to provide housing in El Salvador as part of its mission strategy. The Church is a member of an inter-denominational forum in the town, Churches Together in Didcot and District. 

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

## 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 

Didcot Baptist Church 

PAGE 3 



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ANNUAL REPORT 

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. 

2022 has been a year of a lot of change for the church and through it all our God of faithfulness has shone through. The very start of the year saw the premises closed once more and activities moved online as a result of Covid. As this receded, we reopened with restrictions in place which have gradually reduced over the year as we have ail learned to live with Covid. It is wonderful to now see the building being used by many of our own groups and outside users as well. 

This year has seen us say goodbye to many of our leaders. In September our Senior Pastor Tim left. His final Sunday was very special with three baptisms and a celebratory meal to thank him and his family for all they had given to the church over the eleven years. In addition, David, a longstanding Elder and his wife Janet moved to be closer to family in Birmingham, and our premises deacon Hazel left following her marriage to Darren, moving to be with his family. 

The church meeting appointed Rev Mike Lowe as a moderator to help with the next stages following Tim’s departure, helping us think through as a church where we are now and what our vision going forward will be, and how this relates to looking for a new minister. 

## Highlights of the year 

- e Three baptisms 

- e The provision of a Mission Placement for a student at Cliff College studying for a BA (Hons) Theology and Ministry degree 

- e Ajoint Pentecost service with El Cordero de Dios Baptist Church in El Salvador e Visits from our BMS missionaries in Peru and Afghanistan 

- e A community fun day to celebrate the Queen’s Platinum Jubilee with over 400 members of the community coming to celebrate with us 

- e Established an English conversation class in response to refugees in our community, both from Ukraine and other countries 

- e Hosted a Ukrainian Independence Day party 

- e Set up a coffee lounge where people could come free of charge to keep warm, in a welcoming environment 

- e CAP moved their offices to the church premises, a continuation of our close work with them bringing hope and freedom to those struggling with debt 

- e Soul Sport run by ECHO moved to our premises in order to reduce costs and be able to offer the sessions for children for free as a response to the cost of living crisis 

- e We hosted the ECHO Youth Café at our premises — and outside during the good weather, visible to young people walking by after school. 

- e Supporting the five ECHO events, each hosting 30-60 young people from different churches and their friends 

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

- e Didcot and Wallingford Area Christians Against Poverty Debt Centre (registered charity 1160343) e Didcot Churches Refugee Welcome group 

During 2022 four new members were welcomed into membership, 1 sadly died, and 10 members resigned, usually due to moving away. The membership on 31 December 2022 stood at 129. Three people were baptised during the year. 

Typical attendances at Sunday worship are difficult to gauge owing to being a mix of live and online throughout the year but attendances have stayed strong with numbers mostly ranging from 120-150 including children. 

Through its regular activities the church is in contact with approximately 120 children (aged 0-11 years), and approximately 40 young people (aged 12-18 years). 

Other activities, including house groups have continued to function, online and in-person at different times of the year. 

The church runs Didcot Foodbank which remained open throughout the year and distributed food for 6,779 adults and children during the year (2021: 4,330). This figure includes some repeat visits. Didcot Foodbank is supported by other agencies and churches in the area. In addition, a number of 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). In addition to donations of food and other supplies, the Foodbank received income in the year of £52,471 (2021: £29,261) 

Didcot Baptist Church 

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ANNUAL REPORT| 

## Financial Review 

The church continues to raise the majority of the funds which it needs to carry on its activities from within its own membership and congregation, except in the case of the Foodbank where a majority of the income is raised from the general public, alongside food donations. 

General fund donation income grew by almost 2% or £3k to £170k. Underlying giving fell back from the previous year, but was boosted by a couple of smaller legacies and a donation designated for the Tithe fund. Income from the rental of the premises picked up following the removal of all pandemic restrictions, increasing from £1k to £8.3k, though it has not returned to its peak prior to the pandemic. Restricted fund income grew as generosity towards the Foodbank increased income by 80% in this fund to £52.5k, helping to match the increase in demand. Some donations continued to be received towards the Redevelopment Fund meeting longer term monthly pledges; this came to an end in December 2022. Other income in the prior year includes Coronavirus Job Retention Scheme grants, which did not continue in 2022. In addition, £15.5k of income from the Greater Didcot Christian Children and Youthwork Trust in 2021 was recognised as a one-off and did not repeat in 2022 

General Fund expenditure on charitable activities fell by 9% compared with the previous year. Restricted expenditure largely reflects the cost of supplies for the Foodbank which have increased dramatically this year, partly due to increased demand but also reflecting a drop in food donations. 

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 change in the employment status of the Children and Youth Director detailed in the accounts, reduced those costs by approximately 50% (but also reduced income by a similar amount) and the departure of Rev Tim O'Brien part way through the year also resulted in a reduction in costs, albeit temporary. During the year, the church restructured the administrative support roles into one, adding administrative support for the growing work of the Foodbank, resulting in two redundancies. The church employs (part-time) an Operations Manager and a Toddler Group Leader. 

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 Trustees have chosen to change the basis of valuation of the church premises and so an RICS valuation was carried out as at 31 December 2022 which resulted in a significant reduction in the value at which the church is held on the balance sheet. This reduced the valuation by £1.1m to £1.6m. The Trustees consider this to be a more realistic assessment of the value. 

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. 

As a result of changes in market conditions and the recovery plan which was put in place, the church no longer holds a defined benefit pension scheme liability. Deficit repayments were ceased part way through 2022 as a result. 

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 seven months’ expenditure (£80k). 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. Given the current leve! of economic uncertainty, the Trustees consider it prudent to hold a higher level of reserves for the time being, particularly in anticipation of the appointment of a new minister. Although the reserves for the Foodbank are currently high, demand is outstripping both food and monetary donations in 2023 and the balance is expected to fall as we meet the needs of the community in the coming year. 

Signed by Rev Louise Brown on behalf of the Trustees: 

Date:26 September 2023 

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Didcot Baptist Church 

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## LEGAL INFORMATION 

The church is a registered charity number 1128696. 

CHURCH ADDRESS Didcot Baptist Church 43 Wantage Road Didcot Oxfordshire OX11 OBS Tel: 01235 813187 

TRUSTEES David Kerrigan (until 24 May 2022) George Ferguson Hazel Grant (until 27 September 2022) Joanna Schider Martin Ciegg Sarah West (until 19 July 2022) Tayo Adeyemi Julie Excell (from 24 May 2022) Karen Marriott (from 19 July 2022) Bevan Marchand (from 19 July 2022) Sebastian Campanella (from 27 September 2022) 

CHURCH TREASURER (also Trustee) Kate Andrews 

CHURCH MINISTERS (also Trustees) Rev Tim O’Brien (unti! 25 September 2022) Rev Louise Brown 

CHILDREN AND YOUTH DIRECTOR (also Trustee) Hannah Field 

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

INDEPENDENT EXAMINER Richard Wilson 

Didcot Baptist Church 

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INDEPENDENT EXAMINER’S REPORT| 

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

| report to the trustees on my examination of the accounts of the Church for the year ended 31 December 2022, which are set out on pages 8 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 audit is not required for this year under section 144 of the Charities Act 2011 (“the Charities Act”) and that an independent examination is needed. 

- {tis my responsibility to: 

   - e examine the accounts under section 145 of the Charities Act, e 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 out in 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 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 material matters have come to my attention which gives me cause to 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 accounts did not accord with the accounting records; or 

- e the accounts did not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair’ view which is not a matter considered as part of an independent examination. 

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

Signed: 


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Date 1st October 2023 

Richard Wilson, FCMA 

Didcot Baptist Church 

PAGE 7 



— 

STATEMENT OF FINANCIAL ACTIVITIES | 

For the year ended 31 December 2022 

||Notes|Unrestricted<br>Funds|Restricted<br>Funds|Endowed<br>Funds|Totals<br>2022|Totals<br>2021|
|---|---|---|---|---|---|---|
|||£|£|£|£|£|
|Income|||||||
|Donations and legacies|2|169,816|58,787|=|228,603|207,086|
|Income from investments|3|10,179|-|e|10,179|10,186|
|Income from charitable activities|4|652|7,643|=|8,295|3,593|
|Othertrading income|§|8,346|-|-|8,346|753|
|Other income|6|:|-|-|-|15,495|
|Total Income||188,993|66,430|-|255,423|237,113|
|Expenditure|||||||
|Expenditure on charitable activities|7|164,981|61,096|™|226,077|218,986|
|Other expenditure|8|720|-|=|720|178|
|Total expenditure||165,701|61,096|=|226,797|219,164|
|Net income/(expenditure)||23,292|5,334|-|28,626|17,949|
|Transfers between funds||346|(346)|-|™|.|
|Gains/(losses) on revaluation of<br>property|12|58,125|-|(1,124,298)|(1,066,173)|517,093|
|Actuarial gains/(losses) on defined<br>benefit pension scheme|1|34,280|-|-|34,280|1,911|
|Netmovement infunds||116,043|4,988|(1,124,298)|(1,003,267)|536,953|
|Fundbalances at 1 January||362,657|59,581|2,709,298|3,131,536|2,594,583|
|Fundbalancesat31December||478,700|64,569|1,585,000|2,128,269|3,131,536|



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 

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BALANCE SHEET 

ee 

## For the year ended 31 December 2022 

||Notes|2022|2021|
|---|---|---|---|
|||£|£|
|Fixed assets||||
|Tangible assets|13|1,968,429|3,041,370|
|Current assets||||
|Debtors|14|12,011|26,408|
|Cash at bank and in hand|15|165,303|123,264|
|Total current assets||167,314|149,672|
|Creditors: amounts falling duewithin oneyear|16|(7,474)|(21,006)|
|Net current assets||159,840|128,666|
|Netassetsexcluding pension liability||2,128,269|3,170,036|
|Defined benefit pension scheme liability|21|-|(38,500)|
|Total netassets||2,128,269|3,131,536|
|Funds||||
|Endowed funds|17|1,585,000|2,709,298|
|Restricted funds|18|64,569|59,581|
|Unrestricted funds||||
|Designated funds|19|398,795|327,428|
|General fund||79,905|73,729|
|Unrestricted funds excluding pension reserve||478,700|401,157|
|Pension reserve|21|-|(38,500)|
|Total unrestricted funds||478,700|362,657|
|Totalfunds||2,128,269|3,131,536|



The financial statements on pages 8 to 19 were approved by the Trustees at a meeting of Elders and Deacons and signed on their behalf by: 

Kate Andrews, Treasurer 

Date: 26 September 2023 

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

Didcot Baptist Church 

PAGE 9 



NOTES TO THE FINANCIAL STATEMENTS | For the year ended 31 December 2022 

## 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 cail 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. The manse is revalued each year based upon the insurance valuation as reliable cost information is not available. The church has been valued by a RICS qualified surveyor as at 31 December 2022. 

Didcot Baptist Church 

PaGE 10 



NOTES TO THE FINANCIAL STATEMENTS 

OO 

For the year ended 31 December 2022 

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. 

## 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 to 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 recognisesa liability for this obligation. The amount recognised is the net present value of the contributions payable under the agreement that relate to the deficit. 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|Totals2022|Totals 2021|
|---|---|---|---|---|
||Funds|Funds|||
||£|£|£|£|
|Donationsand grants|136,872|51,882|188,754|174,809|
|Legacies|5,000|-|5,000|-|
|Tax refunds|27,944|6,905|34,849|32,277|
|Total|169,816|58,787|228,603|207,086|



In 2021 £40,161 of the donations and legacies income was attributable to restricted funds, with the remaining £166,925 being attributable to unrestricted funds. 

Didcot Baptist Church 

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a 

| 

For the year ended 31 December 2022 

## NOTES TO THE FINANCIAL STATEMENTS 

## 3 Investment Income 

||Unrestricted|Restricted|||
|---|---|---|---|---|
||Funds|Funds|Totals 2022|Totals 2021|
||£|£|£|£|
|Bank interest|400|-|400|593|
|Manse rental|9,779|-|9,779|9,593|
|Total|10,179|-|10,179|10,186|



In 2021, all of the investment income was attributable to unrestricted funds. 

4 Income from Charitable Activities 

||Unrestricted|Restricted|||
|---|---|---|---|---|
||Funds|Funds|Totals 2022|Totals 2021|
||£|£|£|£|
|Income from church activities|652|7,643|8,295|3,593|
|Fundraising events|:|-|-|:|
|Total|652|7,643|8,295|3,593|



In 2021, all £3,593 was attributable to restricted funds. 

## 5 Other Trading income 

|5<br>Other TradingTrading income|5<br>Other TradingTrading income|5<br>Other TradingTrading income||||
|---|---|---|---|---|---|
|Othertrading income arisesfrom the rental ofthe premises to|||communityorganisations|when not in use forchurch||
|activities.|All income is unrestricted.|||||
|6|Other income|||||
|||Unrestricted|Restricted|||
|||Funds|Funds|Totals 2022|Totals 2021|
|||£|£|£|£|
|Government grants||-|-|-|4,730|
|Other||-|-|:|10,765|
|||-|-|-|15,495|



In 2021, all amounts were attributable to unrestricted funds. The organisation furloughed one team member during the early part of 2021 where activities were unable to take place due to covid-19 and claimed a grant under the Job Retention Scheme. In addition, a grant was received towards sound insulation work in the Harry Lewis Hall. Other income in 2021 relates to the reimbursement of employment costs of 50% of the Children and Youth Director who was employed on the church payroll whilst the Greater Didcot Christian Children and Youthwork Trust was set up. 

## 7 Expenditure on Charitable Activities 

||||Unrestricted|Restricted|||
|---|---|---|---|---|---|---|
||||Funds|Funds|Totals2022|Totals 2021|
||||£|£|£|£|
|Ministry|||86,964|-|86,964|115,135|
|Mission|||26,736|51,280|78,016|51,204|
|Establishment|and|Premises|51,281|9,816|61,097|52,647|
||||164,981|61,096|226,077|218,986|



In 2021, £24,158 mission costs and £13,154 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 including the provision of food supplies at the Foodbank (restricted funds). 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. 

Didcot Baptist Church 

PaGE 12 



| 

NOTES TO THE FINANCIAL STATEMENTS 

ee 

For the year ended 31 December 2022 

## 7 Charitable Activities (continued) 

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


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|||||||
|---|---|---|---|---|---|
|Unrestricted|Restricted|
|Funds|Funds|Totals|2022|Totals|2021|
|£|£|£|£|
|Administration|12,164|1,700|13,864|10,664|
|IT|4,992|-|4,992|5,075|
|Subscriptions|842|-|842|845|
|Bank|charges|104|624|728|522|
|18,102|2,324|20,426|17,106|

**----- End of picture text -----**<br>


In 2021 all support costs other than £413 bank charges were attributable to unrestricted funds. 

## 8 Other expenditure 


**----- Start of picture text -----**<br>
|||||||||||
|---|---|---|---|---|---|---|---|---|---|
|Unrestricted|Restricted|Totals 2022|Totals 2021|
|Funds|Funds|
|£|£|£|pa|
|Interest|charge|on|pension|liability|720|-|720|178|
|2021,|all|other|expenditure|was|attributable|to|unrestricted|funds.|
|Grants|payable|
|Unrestricted|Restricted|
|Funds|Funds|Totals 2022|Totals 2021|
|£|£|£|£|
|Home|Mission|~|core|grant|9,961|-|9,961|10,015|
|BMS|World|Mission|—|core|grant|9,081|=|9,081|10,015|
|EI|Salvador|-|1,272|1,272|2,540|
|TRAIN|(Detached|Youth|Workers)|-|-|-|628|
|Christians|against|Poverty|5,500|-|5,500|5,000|
|Other|grants|and|special|gifts|1,200|500|1,700|1,690|
|25,742|1,772|27,514|29,888|

**----- End of picture text -----**<br>


In 2021, all other expenditure was attributable to unrestricted funds. 

## 9 Grants payable 

In 2021, £3,005 grants payable were attributable to restricted funds. 

10 Net income for the year 


**----- Start of picture text -----**<br>
||||||||
|---|---|---|---|---|---|---|
|2022|2021|
|£|£|
|Net|income|for the|year|is|stated|after|
|charging/(crediting)|
|Independent examiners’|remuneration|Nil|Nil|

**----- End of picture text -----**<br>


Didcot Baptist Church 

PAGE 13 



NOTES TO THE FINANCIAL STATEMENTS 

For the year ended 31 December 2022 

## 11 Staff costs and Trustees’ expenses 

||2022|2021|
|---|---|---|
||£|£|
|Salaries|66,275|102,156|
|Social security costs|1,313|3,255|
|Pension cosis|5,632|7,544|
|Redundancy payments|4,356|2|
|Other remuneration|8,533|11,263|
||124,218|124,218|



The average number of full-time equivalent employees in the year was 4 (2021: 4). No employee received emoluments in excess of £60,000 during the year (2021: none). During the year the two part-time support roles were restructured into one part-time role, resulting in payment of statutory redundancy amounts totalling £4,356. 

On 1 January 2021 Hannah Field (an elder and trustee) was appointed as Children and Youth Director. This role is part-time and the other half of the role was expected to be funded by the Greater Didcot Christian Children and Youthwork Trust. Due to delays in setting up the trust, the role was fully-funded by Didcot Baptist Church for the first quarter of 2021. At the end of 2021 a debtor was recognised for £10,713, the amount due from the new trust and H Field was transferred to the payroll of the new trust from 1 January 2022. During 2022 the church paid the Greater Didcot Christian Children and Youthwork Trust £13,735 in respect of her services as Children and Youth Director. The full outstanding debt was settled by the Trust during 2022. 

The Senior Minister, the Associate Minister and the Children and Youth Director 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 £33,829 (2021: £45,640) in respect of his services as Minister up to his date of leaving in September 2022, including the provision of manse accommodation rented by the church from the Minister. Rev Brown received remuneration of £34,353 (2021: £33,857) in respect of her services as Minister. H Field received remuneration of £nil (2021: 26,270) in respect of her services as Children and Youth Director. 

£nil in total was reimbursed to the Trustees in respect of expenses incurred as Trustees (2021: £nil). The ministers, who are also Trustees, are deemed to have incurred expenses in discharging their duties as ministers, rather than as Trustees. During the year, the church received donations of £37,197 from the Trustees (2021: £31,620). All donations were received for general funds and the redevelopment fund. 

The church pays pension contributions for its Minister and Associate Minister to the Defined Contribution (DC) Plan of the Baptist Ministers Pension. Further details are set out in note 21. Pension contributions under autoenrolment obligations for other staff are made to NEST pensions. 

## Total aggregate remuneration paid to key management personnel during the year was £68,182 (2020: £105,767). 12 Gains and losses on revaluation of fixed assets held for the charity’s own use 

Gains and losses on property assets were recognised during the year. The manse value is based on the revised insurance valuations received from the Baptist Insurance Company PLC. The church value is based upon a valuation carried out by David Parlett, MRICS. 

|||2022|2021|
|---|---|---|---|
|||£|£|
|Church|premises|(1,124,298)|492,208|
|Manse||58,125|24,885|
|||(1,066,173)|517,093|



Didcot Baptist Church 

PAGE 14 



| 

| 

oo 

For the year ended 31 December 2022 

## NOTES TO THE FINANCIAL STATEMENTS 


**----- Start of picture text -----**<br>
13 Tangible fixed assets<br>**----- End of picture text -----**<br>


||Church<br>Premises|Manse|Furniture and<br>Fittings|Computer<br>Equipment|Total|
|---|---|---|---|---|---|
||£|£|£|£|£|
|Cost||||||
|At 1 January 2022|1,980,357|250,000|55,761|2,761|2,288,879|
|Additions|-|-|189|235|424|
|At31 December2022|1,980,357|250,000|55,950|2,996|2,289,303|
|Depreciation||||||
|At 1 January 2022|-|-|42,120|1,941|44,061|
|Depreciation charge|-|-|6,724|467|7,191|
|At 31 December2022|-|-|48,844|2,408|§1,252|
|Gain/loss on revaluation||||||
|At 1 January 2022|728,941|67,610|-|-|796,551|
|Gain/(loss) for the year|(1,124,298)|58,125|-|-|(1,066,173)|
|At 31 December 2022|(395,357)|125,735|-|“|(269,622)|
|Netbook value||||||
|31 December 2022|1,585,000|375,735|7,106|588|1,968,429|
|31December2021|2,709,298|317,610|13,641|820|3,041,369|



## 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. 

## 14 Debtors 

|||2022|2021|
|---|---|---|---|
|||£|£|
||Accrued income|5,657|10,725|
||Prepayments and other debtors|6,354|15,683|
|||12,011|26,408|
|15|Bank and cash balances|||
|||2022|2021|
|||£|£|
||Cash at bank|149,883|113,594|
||Other (organisation accounts)|5,420|9,670|
|||155,303|123,264|



Didcot Baptist Church 

PaGeE 15 



NOTES TO THE FINANCIAL STATEMENTS 

OO 

For the year ended 31 Decernber 2022 

## 16 Creditors: amounts falling due within one year 

|||2022|2021|
|---|---|---|---|
|||£|£|
|Accruals||6,576|18,438|
|Deferred income||598|2,533|
|Other creditors||300|35|
|||7,474|21,006|
|Accruals in 2021 include £12,565 for the retention payable on the premises||redevelopment,|originally due|
|November 2021 but settled in March 2022 following the completion of snagging.||||
|Endowment Funds||||
||At 1 January||At 31 December|
||2022|Gains/(iosses)|2022|
||£|£|£|
|ChurchPremisesreserve|2,709,298|(1,124,298)|1,585,000|



Accruals in 2021 include £12,565 for the retention payable on the premises redevelopment, originally due November 2021 but settled in March 2022 following the completion of snagging. 

## 17 Endowment Funds 

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<br>2022|Incoming<br>resources|Resources<br>expended|Transfers|31 December<br>2022|
|---|---|---|---|---|---|
||£|£|£|£|£|
|Restricted funds||||||
|Worship fund|1,000|-|(869)|-|131|
|Premises redevelopment|-|4,520|(4,174)|(346)|-|
|Foodbank|47,193|52,471|(44,978)|-|54,686|
|Other restricted funds under £3,000|4,338|1,795|(1,801)|-|4,332|
|Church organisations|7,050|7,644|(9,274)|-|5,420|
|TotalRestrictedFunds|59,581|66,430|(61,096)|(346)|64,569|



The Worship fund represents an in memory donation to be spent on the church worship. 

The Premises Redevelopment Fund represents funds raised for the redevelopment project which was approved by the church during 2019 and was undertaken during 2020.Some funds were committed to be paid in instalments over a number of years. 

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||||
|Worship fund|-|131|131|
|Premises redevelopment|-|-|.|
|Foodbank|3,096|51,590|54,686|
|Other restricted funds under £3,000|~|4,332|4,332|
|Church organisations|-|§,420|5,420|
||3,096|61,473|64,569|



Didcot Baptist Church 

PAGE 16 



||<br>OT||||NOTESTOTHEFINANCIALSTATEMENTS|NOTESTOTHEFINANCIALSTATEMENTS|NOTESTOTHEFINANCIALSTATEMENTS|NOTESTOTHEFINANCIALSTATEMENTS|NOTESTOTHEFINANCIALSTATEMENTS|NOTESTOTHEFINANCIALSTATEMENTS|
|---|---|---|---|---|---|---|---|---|---|
||||||Forthe yearended 31||December2022|||
|19<br>Designated funds||||||||||
||1 January<br>2021|Incoming<br>resources|Resources<br>expended||Gains and<br>losses|Transfers||31 December<br>2022||
||£|£||£|£|||£|£|
|Designated funds||||||||||
|Fixed assets reserve|327,428|-||-|58,125|(5,220)|||380,333|
|Tithe|-|18,462||:|-||-||18,462|
||327,428|18,462||-|58,125|(5,220)|||398,795|
|Thefixedassets reserve representsamounts setaside equivalenttothe netbookvalue||||||ofpropertyand||andequipment||
|used bythe church and purchased|from unrestricted funds. The tithe represents amounts given which||||||||have been|
|set aside to bless other charities as a thanksgiving forthe|||funds|raised forthe redevelopment project.||||||
|||||FixedAssets||Current|||Total|
|||||||Assets||||
||||||£|£|||£|
|Designated funds||||||||||
|Fixed assets reserve|||||380,333|-|||380,333|
|Tithe|||||-|18,462|||18,462|
||||||380,333|18,462|||398,795|
|Movements on the pension reserve are set out in note 21.||||||||||
|20<br>Analysis of net assets||||||||||
|||Fixed Assets||Net Current||Long term|||Total|
||||||Assets|liabilities||||
|Analysis of netassets|||£||gE|£|||£|
|Endowment funds||1,585,000|||%|=|||1,585,000|
|Restricted funds|||3,096||61,473|-|||64,569|
|Designated funds||380,333|||18,462|-|||398,795|
|Unrestricted funds|||-||79,905|-|||79,905|
|Pension reserve|||“||-|-|||.|
|||1,968,429|||159,840|~|||2,128,269|
|21<br>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 itis 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. 

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 

Didcot Baptist Church 

PAGE 17 



f 

NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 December 2022 

a 

## 21 Pensions (continued) 

known as the Baptist Ministers’ Pension Fund, started in 1925, but was closed to future accrual of defined benefits on 31 December 2017. 

## 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, whilst the level of assets needed to pay benefits was £316m, giving a deficit of £18m (equivalent to a past service funding level of 94%). The Church and the other participating employers in the DB Plan are collectively responsible for funding this deficit. 

The key financial assumptions underlying the valuation were as follows: 


**----- Start of picture text -----**<br>
||||||
|---|---|---|---|---|
|Type|of assumption|%|pa|
|RPI|price|inflation|assumption|3.20|
|CPI|price|inflation|assumption|2.70|
|Minimum|Pensionable|Income|increase|
|adjustment|(above|CPI)|0.50|
|Assumed|investment|returns|
|-|Pre-retirement|2.95|
|~|Post|retirement|1.70|
|Deferred|pension|increases|
|-|Pre-April|2009|3.20|
|-|Post-April|2009|2.50|
|Pension|increases|2.70|

**----- End of picture text -----**<br>


Mortality is assumed in accordance with 80% of the S3NA standard mortality table. Future improvements projected from 2013 in line with the “CMI 2019” projection with a long-term rate of improvement of 1.75% 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. 

## Recovery Plan 

In addition to the contributions to the DC Plan set out above, where a valuation of the DB Plan reveals a deficit the Trustee and the Council agree to a rate of deficiency contributions from churches and other employers involved in the DB Plan. Following the 2019 valuation a Recovery Plan was signed in September 2020 under which deficiency contributions were payable until June 2026. These contributions were broadly based on each employer's membership at 31 December 2014 and increase annually in line with increases to Minimum Pensionable Income as defined in the Rules. 

On 30th June 2022 the Baptist Pension Scheme signed an agreement with the insurance company Just Group (‘Just’) to secure DB Plan members’ pension benefits. Just are now providing financial backing for all pensions provided through the Scheme’s DB Plan and following this transaction, the Scheme no longer has a shortfall. An updated Recovery plan was then signed in August 2022 under which recovery contributions from each participating employer in the DB Plan reduced to £1 per month from August 2022. 

## Movement in Balance Sheet liability 

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


**----- Start of picture text -----**<br>
|||||||||||
|---|---|---|---|---|---|---|---|---|---|
|2022|2021|
|£|£|
|Balance|sheet|liability|at|year|start|38,500|48,572|
|Minus|deficiency|contributions|paid|(4,940)|(8,339)|
|Interest|cost|(recognised|in|SoFA)|720|178|
|Remaining|charige|to|balance sheet|liability*|(recognised|in|SoFA)|(34,280)|(1,911)|
|Balance|sheet|liability|at|year end|-|38,500|

**----- End of picture text -----**<br>


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

Didcot Baptist Church 

PAGE 18 



a NOTES TO THE FINANCIAL STATEMENTS | For the year ended 31 December 2022 

) 

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: 

||31 Dec 2022|31 Dec 2021|31 Dec 2020|
|---|---|---|---|
|Discount rate|5.7%|2.0%|0.4%|
|Future increases to Minimum Pensionable||||
|Income|3.3%|4.1%|3.0%|



## 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. 

Rev O’Brien was a Trustee of Didcot and Wallingford Area CAP Debt Centre (Registered Charity No. 1160343), a charity supported by the church. It received grants of £5,500 from the church in 2022 (2021: £5,000). 

The church rented back the property belonging to Rev. Tim O’Brien as part of his remuneration up to 25 September 2022 as set out in note 11. 

Rev L Brown, is a trustee of the Greater Didcot Christian Children and Youthwork Trust (Registered Charity No. 1194345) who run the ECHO project. This charity owed the church £nil at 31 December 2022 (2021: £10,713) and from 1 January 2022 took on the employment of H Field. 

Didcot Baptist Church 

Pace 19