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2021-03-31-accounts

Charity Registration No. 1128822

GREEN STREET GREEN BAPTIST CHURCH ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

GREEN STREET GREEN BAPTIST CHURCH

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees

Alex Gamby John Doughty David Wood Robert Mumford Mike Ruffhead Colette Burchill (Appointed 1 January 2021) Vic Harvey (Appointed 1 January 2021)

Charity number 1128822 Principal address 1 Worlds End Lane Green Street Green Orpington Kent BR6 6AA Independent examiner Nigel Hewson FCA DChA Hewsons Chartered Accountants 80 Woodhurst Avenue Orpington Kent BR5 1AT Bankers Santander UK plc BBAM Bridle Road Bootle Merseyside L30 4GB

GREEN STREET GREEN BAPTIST CHURCH

CONTENTS

Page
Trustees' report 1 - 4
Independent examiner's report 5
Statement of financial activities 6
Balance sheet 7
Notes to the financial statements 8 - 18

GREEN STREET GREEN BAPTIST CHURCH

TRUSTEES' REPORT

FOR THE YEAR ENDED 31 MARCH 2021

The trustees present their report and financial statements for the year ended 31 March 2021.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's constitution , the Charities Act 2011 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)".

Objectives and activities

The charity's object is the advancement of the Christian faith according to the principles of the Baptist denomination. The charity may also advance education and carry out other charitable purposes in the United Kingdom and/or other parts of the world.

The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake , and, in particular, the specific guidance on charities for the advancement of religion .

During the year the main ways the church sought to achieve the calling of Christ upon it and its charitable purposes for the public benefit have been as follows:

Fulfilling the objectives in teaching, preaching and ministry. This was both in the normal teaching in the church on Sunday during services and midweek meetings, which are open to all. Church members and regular attendees also have the opportunity to receive prayer and pastoral support as appropriate. The church runs various activities where teaching, preaching and ministry play a part including youth and children's meetings and events, Bible studies, prayer meetings, housegroups, and men’s and ladies’ prayer breakfasts.

Impacting the next generation. The church employs both a part time youth worker and a part time children and families’ worker. This arrangement continues to be very positive and has enabled a varied children’s and youth programme to be pursued, including regular and special events. A particular emphasis of the children’s and families work is with the local primary schools, where our worker regularly takes assemblies and contributes to the spiritual life of the school. Our children and families’ worker also works with Spinnaker Trust providing assemblies in other Primary schools across the wider Orpington area. The church normally runs “Messy Church” once a month on a Saturday afternoon which provides an outreach to families with young children who may be unable or unwilling to attend church on Sundays, but this activity has had to be suspended during lock-down.

Practical help and care in the community. Practical care normally includes visiting the elderly, providing a parent and toddlers group for non-church members, running a Bowls Club, Girls Brigade, a Tea Room for older folk, a Lunch Club which again is aimed primarily at the elderly and lonely, and offering prayer for healing to the local community through the “Healing on the Streets” ministry. Several of our members are also involved with the Street Pastors initiative, patrolling the town centre to offer help to anyone in need. Additionally, we also provide accommodation for the meetings of the local AA (Alcoholics Anonymous), Neighbourhood Watch, and Foetal Alcohol Syndrome groups and also provide facilities for an Art Class and a Craft Club which meet in the church premises on a weekly basis. All these activities have been disrupted by the impact of Covid19 and the limitations on face-to-face meetings imposed by lock-down legislation. Wherever possible care has been extended through on-line media or in a suitably socially distanced manner.

Bringing support to organisations working elsewhere both in the United Kingdom and overseas . This support has primarily been through building personal relationship with several organisations and then providing practical and financial assistance. The financial assistance is set out in the notes to the accounts. We have a member who takes an active lead on reporting to the church on events regarding the “wider church” (both in the UK and overseas). This member also arranges for speakers from the various organisations we support to regularly attend Sunday meetings at the church. In addition, we have a team that pray for the suffering church overseas.

GREEN STREET GREEN BAPTIST CHURCH

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

Achievements and performance

The church has successfully continued to undertake many of the activities listed above while due to the pandemic others had to be suspended or moved on-line .

A great contribution is made by volunteers. We are grateful for the many hours volunteers have spent undertaking various roles and jobs around the church. Without this valuable contribution of time, energy and expertise we would not have been able to achieve so much.

The members of the church have consistently been applying the principles of church life outlined in the New Testament to be 'salt and light' in the community, in the places they live and work and in having an impact on social attitudes in wider national society. This is a significant part of the purpose of the church and much of it is done without publicity and the amount of time spent in this way cannot be quantified.

We had two members pass away, and two members move out of the area, but were pleased to welcome 1 new member to the fellowship during the year. No baptisms or weddings have been performed during the year due to the Covid19 outbreak, but several planned baptisms and a wedding have been deferred until meeting restrictions are lifted.

Financial review

The results for the year are as shown in the Statement of Financial Activities with a surplus of unrestricted funds arising in the year of £5,405.

10% of our general fund donations and rental income is tithed to support other Christian organisations/ workers and is detailed further in the notes to the accounts; the church meeting review and agree how this is to be allocated.

It is the policy of the charity that cash and bank balances which have not been designated for a specific use should be maintained at a level equivalent to at least two month’s expenditure. The trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year.

Two month's expenditure on unrestricted funds after deducting unusual major works expenditure amounts to approximately £20,000. Unrestricted cash and bank balances amounted to approximately £55,000 at the balance sheet date.

The Trustees have assessed the major risks to which the charity is exposed, and are satisfied that systems

are in place to mitigate exposure to these risks.

GREEN STREET GREEN BAPTIST CHURCH

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

Plans for the Future

A major building improvement programme covering modifications and landscaping to the front of the church site to provide improved access for those with physical disabilities commenced in 2019. Completion has been substantially delayed by the Covid19 outbreak and related difficulties with contractors and suppliers, but the final elements of the work were completed in June 2021.

Annual amounts are budgeted to be added to a designated sinking fund for church buildings repairs and projects and equipment repairs and replacements.

Structure, governance and management

The charity is a trust governed by a constitution adopted on 24 September 2008.

The trustees who served during the year and up to the date of signature of the financial statements were: Kevin Wright (Retired 31 December 2020) Pat Howes (Retired 31 December 2020) Alex Gamby John Doughty David Wood Robert Mumford Mike Ruffhead Colette Burchill (Appointed 1 January 2021) Vic Harvey (Appointed 1 January 2021)

The appointment of charity trustees is undertaken by processes that are public, clear and open so that all church members are enabled to consider prayerfully who should be appointed as charity trustees. The process ensures that notice is given of any forthcoming election so that church members may freely nominate prospective charity trustees whose names shall be submitted (after they have indicated a willingness to be appointed) for decision to the church members with the intention of ensuring that those appointed have a sufficient level of support from them.

Charity trustees (except for those in ministerial office) shall be appointed for one term of three years with the opportunity to be nominated for one further three year term only that must be followed by a vacant year when they shall not be eligible for reappointment. The church members meeting shall arrange for the appointment of a church secretary and church treasurer (or equivalents) who by the nature of their responsibilities will also be charity trustees.

Existing Trustees ensure that new Trustees are aware of their legal obligations under charity law together with the operations of the charity. The Church Secretary undertakes induction training of any newly appointed Trustees with reference to the advice and guidance provided by the Baptist Union.

David Wood is the Minister, Mike Ruffhead is Church Secretary, Pat Howes is Church Treasurer, and the other Trustees are also known as Deacons.

The day to day management and governance of the church is undertaken by the trustees. The trustees are also responsible for the maintenance and repair and other financial aspects of the church building on behalf of the church so that, unless there is any good reason why they should refuse to do so, they should act in accordance with the wishes of the church which would, in practice, provide the necessary finances. The trustees are also liable to ensure that the church (that is the building) is used for worship in accordance with the terms of the constitution, church policies and the doctrinal basis.

GREEN STREET GREEN BAPTIST CHURCH

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

The Trustees have oversight of all Church activities and provide guidance and direction to members of staff on policy and plans as necessary. All major decision making is referred to the Church Members’ Meeting which has the final say on matters of policy and expenditure of any sums in excess of three thousand pounds.

The day to day running of the church’s activities is delegated by the Trustees to teams who are appointed by the church members as follows:

Regular reports from these teams are reviewed at the Trustees’ meeting.

The remuneration of key management personnel is agreed by trustees and annual review undertaken with reference to market forces and inflation indices. Remuneration figures are included in the annual budget presented to members of the church for their approval.

The church is affiliated to the Baptist Union of Great Britain and the London Baptist Association.

Reference and administrative information is provided on the page following the cover sheet.

The trustees' r eport was approved by the Board of Trustees.

Mike Ruffhead

Trustee Dated: 4 August 2021

GREEN STREET GREEN BAPTIST CHURCH

INDEPENDENT EXAMINER'S REPORT

TO THE TRUSTEES OF GREEN STREET GREEN BAPTIST CHURCH

I report to the trustees on my examination of the financial statements of Green Street Green Baptist Church (the charity) for the year ended 31 March 2021.

Responsibilities and basis of report

As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act).

I report in respect of my examination of the charity’s financial statements carried out under section 145 of the 2011 Act . In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

Your attention is drawn to the fact that the charity has prepared financial statements in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn.

I understand that this has been done in order for financial statements to provide a true and fair view in accordance with Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

I 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 financial statements to be reached.

Nigel Hewson FCA DChA

Hewsons Chartered Accountants 80 Woodhurst Avenue Orpington Kent BR5 1AT

Dated: 4 August 2021

GREEN STREET GREEN BAPTIST CHURCH

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2021

Unrestricted
Restricted
funds
funds
2021
2021
Notes
£
£
Income from:
Donations and legacies
3
136,862
18,389
C haritable activities
4
840
-
Investment s
5
291
-
Total income
137,993
18,389
Expenditure on:
Charitable activities
6
134,088
24,071
Net incoming/
(outgoing) resources
before transfers
3,905
(5,682)
Gross transfers
between funds
1,500
(1,500)
Net income/(expenditure)
for the year/
Net movement in funds
5,405
(7,182)
Fund balances at 1
April 2020
27,134
565,460
Fund balances at 31
March 2021
32,539
558,278		 TotalUnrestricted
Restricted
Total
funds
funds
2021
2020
2020
2020
£
£
£
£
155,251
161,010
20,413
181,423
840
6,492
1,816
8,308
291
304
416
720
156,382
167,806
22,645
190,451
158,159
183,313
174,962
358,275
(1,777)
(15,507)
(152,317)
(167,824)
-
(22,555)
22,555
-
(1,777)
(38,062)
(129,762)
(167,824)
592,594
65,196
695,222
760,418
590,817
27,134
565,460
592,594

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

GREEN STREET GREEN BAPTIST CHURCH

BALANCE SHEET

AS AT 31 MARCH 2021

Notes
Fixed assets
Tangible assets
11
Current assets
Debtors
12
Cash at bank and in hand
Creditors: amounts falling due within
one year
14
Net current assets
Total assets less current liabilities
Creditors: amounts falling due after
more than one year
15
Net assets
Income funds
Restricted funds
16
Unrestricted funds
Designated funds
17
General unrestricted funds		 2021
£
28,493
55,221
83,714
(11,983)
23,871
8,668		 £
559,015
71,731
630,746
(39,929)
590,817
558,278
32,539
590,817		 2020
£
10,533
69,031
79,564
(11,106)
24,934
2,200		 £
569,133
68,458
637,591
(44,997)
592,594
565,460
27,134
592,594

The financial statements were approved by the Trustees on 4 August 2021

Mike Ruffhead Trustee

GREEN STREET GREEN BAPTIST CHURCH

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

1 Accounting policies

Charity information

Green Street Green Baptist Church is a charitable trust.

1.1 Accounting convention

The financial statements have been prepared in accordance with the charity's trust document, the Charities Act 2011 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)". The charity is a Public Benefit Entity as defined by FRS 102.

The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.

The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.

The financial statements are prepared in sterling , which is the functional currency of the charity. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2 Going concern

The trustees have considered the charity's day to day cash flow requirements and have a reasonable expectation that the charity has adequate resources to continue in operational existence for at least a further 12 months . Accordingly, they continue to adopt the going concern basis in preparing the annual report and financial statements.

This assessment is undertaken in light of the recent developments arising from the coronavirus (COVID19) pandemic, as the charity does not expect significant reductions in donated income and in the short term is able to draw on existing reserves before considering reduc ing outgoings.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Designated funds comprise funds which have been set aside at the discretion of the trustees for specific purposes. The purposes and uses of the designated funds are set out in the notes to the financial statements.

Restricted funds are subject to specific conditions by donors as to how they may be used.

1.4 Income

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid is recognised at the time of the donation.

GREEN STREET GREEN BAPTIST CHURCH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

1 Accounting policies

(Continued)

Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

1.5 Expenditure

Expenditure is accounted for on an accruals basis and allocated to the appropriate heading in the accounts. Grants and donations payable are taken into account at the earlier of when they are paid or become legally enforceable.

Other than the normal commitments under contracts of employment there are no contractual or constructive obligations to future expenditure at the balance sheet date. Where the trustees have authorised expenditure which is not yet legally enforceable or become constructive obligations amounts are set aside into funds designated for the purpose.

1.6 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost, net of depreciation and any impairment losses. Assets costing less than £ 5 00 are written off as an expense in the year in which the expenditure is incurred.

Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases:

Land and buildings buildings only over 50 years Fixtures, fittings & equipment between 3 and 5 years

No depreciation is provided in respect of freehold land with a historic cost of £218,750 .

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in net income/(expenditure) for the year.

1.7 Impairment of fixed assets

At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any ) .

1.8 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.9 Financial instruments

The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

GREEN STREET GREEN BAPTIST CHURCH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

1 Accounting policies

(Continued)

1.10 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.11 Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2 Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3 Donations and legacies

Unrestricted
Restricted
funds
funds
£
£
Donations and gifts
114,466
14,924
Tax recoverable
22,396
3,465
136,862
18,389
For the year ended 31 March 2020
161,010
20,413
C haritable activities
2021
£
Other church activities, clubs and events
710
R ental income
130
840
Restricted funds
-		 Total
2021
£
129,390
25,861
155,251		 Total
2020
£
151,435
29,988
181,423
181,423
2020
£
7,123
1,185
8,308
1,816

4 C haritable activities

GREEN STREET GREEN BAPTIST CHURCH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

5 Investment s

UnrestrictedUnrestricted
Restricted
funds
funds
funds
2021
2020
2020
£
£
£
Interest receivable
291
304
416
6
Charitable activities		 Total
2020
£
720
Church Church
activities activities
2021 2020
£ £
Staff costs 58,575 58,089
Depreciation and impairment 10,118 10,608
Repairs and maintenance 5,413 4,898
Utilities and insurance 9,325 12,178
Social events and trips - 1,621
Training (240) 1,173
Subscriptions 1,909 3,797
Other direct costs 939 1,040
Childrens' clubs 1,047 2,816
Speakers fees - 200
Catering 20 2,470
Travel - 323
Books and resources 1,422 669
Major works 32,770 229,124
121,298 329,006
Grant funding of activities (see note 7) 23,637 17,954
Share of support costs (see note 8) 9,684 7,895
Share of governance costs (see note 8) 3,540 3,420
158,159 358,275
Analysis by fund
Unrestricted funds 134,088 183,313
Restricted funds 24,071 174,962
158,159 358,275

GREEN STREET GREEN BAPTIST CHURCH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

7 Grants payable

Grants to institutions:
London Baptist Association Home Mission
Tear Fund
Bromley Borough Foodbank
Open Doors
Sat7
Nsumbi Trust
BMS World Mission
Smile International
Spinnaker
Bible Society
Other grants less than £1,000
Grants to individuals		 2021
£
3,900
5,437
1,805
1,250
1,250
1,250
1,250
1,250
1,250
1,250
1,345
21,237
2,400
23,637		 2020
£
2,380
800
-
887
887
887
4,939
887
887
887
1,202
14,643
3,311
17,954

8 Support costs

Support
costs
Governance
costs
£
£
Staff costs
4,846
-
Administration expenses
3,615
-
Interest payable
824
-
Expensed equipment
399
-
Accountancy
-
3,540
9,684
3,540
Analysed between
Charitable activities
9,684
3,540		 2021
Support
costs
Governance
costs
£
£
£
4,846
3,961
-
3,615
3,819
-
824
115
-
399
-
-
3,540
-
3,420
13,224
7,895
3,420
13,224
7,895
3,420		 2020
£
3,961
3,819
115
-
3,420
11,315
11,315

Governance costs includes independent examiner charges of £1,680 (2020- £1,620) for fees in connection with his report, £1,860 (2020- £1,800) for other services and £nil (2020- £nil) under provision for the previous year.

GREEN STREET GREEN BAPTIST CHURCH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

9 Trustees

In accordance with the provisions of the governing document, Pastor David Wood received remuneration for his ministerial services of £30,002 (2020- £29,313) and in addition, pension contributions of £713 (2020£695). None of the other trustees (or any persons connected with them) received any remuneration during the year, but one trustee incurred travel and conference expenses of £nil (2020- £225).

10 Employees

Number of employees

The average monthly number of employees during the year was:

2021 2020
Number Number
Ministerial staff 3 3
Administrative staff 1 1
4 4
Employment costs 2021 2020
£ £
Wages and salaries 62,016 59,740
Social security costs 252 1,178
Other pension costs 1,153 1,132
63,421 62,050

There were no employees whose annual remuneration was £60,000 or more.

GREEN STREET GREEN BAPTIST CHURCH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

11 Tangible fixed assets

Cost
At 1 April 2020
Disposals
At 31 March 2021
Depreciation and impairment
At 1 April 2020
Depreciation charged in the year
Eliminated in respect of disposals
At 31 March 2021
Carrying amount
At 31 March 2021
At 31 March 2020		 Land and
buildings
Fixtures,
fittings &
equipment
£
£
605,473
55,531
-
(5,308)
605,473
50,223
40,326
51,545
7,734
2,384
-
(5,308)
48,060
48,621
557,413
1,602
565,147
3,986		 Total
£
661,004
(5,308)
655,696
91,871
10,118
(5,308)
96,681
559,015
569,133

The charity uses land and buildings at Worlds End Lane, Green Street Green, Orpington, Kent and Stapleton Road, Orpington, Kent which are beneficially owned by the charity and held in trust by the London Baptist Property Board.

12 Debtors

Amounts falling due within one year:
Other debtors
Prepayments and accrued income		 2021
£
25,449
3,044
28,493		 2020
£
7,726
2,807
10,533

GREEN STREET GREEN BAPTIST CHURCH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

13 Loans and overdrafts

Other loans
Payable within one year
Payable after one year
Amounts included above which fall due after five years:
Payable by instalments		 2021
£
44,948
5,019
39,929
19,843		 2020
£
49,115
4,118
44,997
24,981

Borrowings of £17,000 ( (2020- £19,000) at the year end are due to trustee Mike Ruffhead and are without interest and repayable by September 2029 by equal quarterly instalments.

Borrowings of £27,948 ( (2020- £30,115) at the year end attract a variable interest rate charge, currently 2.85%, and is repayable by September 2030, Should there be any default, the lender may have the church sell, mortgage or create a legal charge over church premises.

14 Creditors: amounts falling due within one year

Borrowings
Other taxation and social security
Accruals and deferred income
Creditors: amounts falling due after more than one year
Borrowings		 2021
£
5,019
1,055
5,909
11,983
2021
£
39,929		 2020
£
4,118
1,140
5,848
11,106
2020
£
44,997

15 Creditors: amounts falling due after more than one year

GREEN STREET GREEN BAPTIST CHURCH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

16 Restricted funds

The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes:

Balance at
1 April 2019

£
Building fund
25,336
London Baptist Property Board Fund
669,365
Special offerings and events
521
695,222		 Movement in funds
Incoming
resources
Resources
expended
£
£
18,270
(66,161)
416
(104,634)
3,959
(4,167)
22,645
(174,962)		 Transfers
Balance at
1 April 2020

£
£
22,555
-
-
565,147
-
313
22,555
565,460		 Movement in funds
Incoming
resources
Resources
expended
£
£
15,300
(13,800)
-
(7,734)
3,089
(2,537)
18,389
(24,071)		 Transfers
Balance at
31 March 2021
£
£
(1,500)
-
-
557,413
-
865
(1,500)
558,278

The restricted Building fund is moneys received towards costs of development of the building.

The London Baptist Property Board fund represents property and funds for the development of property.

Monies received for one off events and other specific purposes is included in special offerings and events.

Monies transferred from the building fund have been added to the designated tithes fund with the agreement of donors.

GREEN STREET GREEN BAPTIST CHURCH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

17 Designated funds

The income funds of the charity include the following designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes:

Balance at
1 April 2019
Resources
expended
£
£
Tithes fund
4,529
(12,676)
Sinking fund
10,000
-
14,529
(12,676)		 Transfers
Balance at
1 April 2020
Resources
expended
£
£
£
18,081
9,934
(21,100)
5,000
15,000
-
23,081
24,934
(21,100)		 Transfers
Balance at
31 March 2021
£
£
15,037
3,871
5,000
20,000
20,037
23,871

The Tithes fund receives money set aside by the trustees from donations received, for the purpose of making grants to C hristian workers and organisations, in line with the policy of the church to tithe all income .

The Sinking fund is for church buildings repairs and projects and equipment repairs and replacements.

18 Analysis of net assets between funds

Unrestricted
funds
Restricted
funds
2021
2021
£
£
Fund balances at 31
March 2021 are
represented by:
Tangible assets
1,602
557,413
Current assets/
(liabilities)
70,866
865
Long term liabilities
(39,929)
-
32,539
558,278		 TotalUnrestricted
funds
Restricted
funds
2021
2020
2020
£
£
£
559,015
3,986
565,147
71,731
68,145
313
(39,929)
(44,997)
-
590,817
27,134
565,460		 Total
2020
£
569,133
68,458
(44,997)
592,594

GREEN STREET GREEN BAPTIST CHURCH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

19 Operating lease commitments

£ 864 has been recognised in the statement of financial activities as an expense during the year in respect of operating lease arrangements.

At the reporting end date the charity had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

Within one year
Between two and five years		 2021
£
648
-
648		 2020
£
864
648
1,512

20 Related party transactions

Remuneration of key management personnel

The remuneration of key management personnel is as follows.

2021 2020
£ £
Aggregate compensation 30,002 29,313

Transactions with related parties

During the year the charity entered into the following transactions with related parties:

During the year donations of £ 32,660 were received from trustees and related parties.