## Annual Report 2020
## Bunyan Baptist Church
## **Charity Registration Number: 1128843 Registered Address:** Basils Road, Stevenage, Herts SG1 3PY
## **Trustees:**
The Revd Andrew Ginn (Lead Minister) The Revd Alison Taylor (Associate Minister) Mr Michael Price (Secretary) Mr David Jappy (Treasurer) Mr Eric Beach Mr Alan Curtis Mrs Jan Fry Mr Peter Homfray-Cooper Mr Stephen Jackman Mr Alexander Monaghan Mrs Sheila Smith Mrs Titilope Soyinka (from September 2020)
## **Property Trustees**
The Baptist Union Corporation Limited Baptist House 129 Broadway Didcot Oxfordshire OX11 8RT
**Bankers** National Westminster Bank
**Independent Examiners** Brian Kelly
The Trustees present their Annual Report and financial statements for 2020.
## **Charitable Object**
Bunyan Baptist Church Annual Report 2020
The Charity is governed by an Approved Governing Document which states that the principal purpose of the charity is the advancement of the Christian faith according to the principles of 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 shall 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**
Bunyan Baptist Church is an unincorporated association with Charity Trustees appointed by a meeting of members.
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. Bunyan Baptist Church operates open membership so that persons seeking membership who have not been baptised 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 five times per year and has responsibility for the overall policy of the church. In accordance with the Constitution, the members appoint Elders and Deacons, who together with the Ministers, Church Secretary and Treasurer (who are also appointed by the Members), are responsible for the day-to-day running of the church’s work and witness, and the financial and legal aspects of the charity. They are collectively known as the Charity Trustees.
All members are encouraged to take an appropriate part in the spiritual and practical tasks involved in the furtherance of the charitable objective.
The Church Members Meeting is an opportunity to consider and review routine matters associated with the life of the Church including issues related to church membership, the appointment of the Charity Trustees and the approval of the budget. There will also be opportunities for considering proposals from the Charity Trustees or other Church Members for the development of the Church and the advancement of its purpose through its activities.
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 to its membership and to 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 living Lord. Bunyan is working towards sharing a town-wide love of Jesus.
Like many charities and churches, however, as we adapted to the social restrictions imposed to manage the spread of CV-19, 2020 saw significant changes to our activities and operations. Our gathered worship services moved online, where videos of elements of services were recorded separately in
Bunyan Baptist Church Annual Report 2020
different households and combined into one video, which was then shared at the time of our regular service. The service videos were followed by group video calls, where all the congregation and membership were invited to continue their participation in the church community.
Likewise, other midweek groups for adults and children moved from being in person to “virtual” as video calls became our normal mode of meeting. When it was possible to meet even in smaller numbers, the Toddler Group (Twinklers) was able to recommence, utilising whatever approach was most appropriate in light of the changing restrictions; meeting with one or two families at a time for walks outdoors, meeting with small groups indoors, or telephone support for parents.
The church also adopted a new approach to Pastoral Care, recognising the likelihood of increased loneliness or isolation; whereby members of the pastoral care team took responsibility to contact ten or so others on a weekly basis, offering conversation, needs assessment and prayer support. The approach was invaluable for helping people, especially the most vulnerable, to remain connected to the church.
Despite the limitations and challenges faced in light of CV-19, church was never cancelled. The building was closed for much of the year, but the congregation and membership remained open, connected, engaged and continue to serve the local community through the practical care offered to neighbours and neighbourhoods.
## **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 such as fellowship and encouragement. The Trustees recognise that 2020 was a particularly challenging year for the church, but despite that 2020 was a positive year in the life of the church, as we learnt to maintain our presence and communications through our YouTube Channel and other video-conferencing platforms.
At 31 December 2020 the membership stood at 152, four less than a year earlier.
We are also encouraged by the positive part the church plays in the life of the community of Stevenage, since in addition to activities formally linked to the church, members also served as volunteers in other local charities and organisations. This included work with a local homeless charity called The Haven, serving as volunteers in local youth, children’s and community charities, helpers at local schools, the foodbank and street pastors.
## **Financial Review**
The Church continues to raise the funds which it needs to carry on its activities from within its own membership and congregation. No wider public appeal was made for funds during the year.
The most significant expense related to the ministers, who lead and coordinate the church’s activities including the Sunday services, provide pastoral care for the congregation and other people, and equip and encourage the membership in their life, Christian witness and service.
Bunyan Baptist Church Annual Report 2020
The Church expressed its part in the life of the wider church by making grants to national and international Christian 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.
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, and are satisfied that they have sufficient reserves at the Balance Sheet date, together with ongoing income anticipated, to enable the church to function effectively in the coming year.
The Trustees have made an assessment of the major risks facing the church, and are satisfied that there are policies in place to minimise these risks.
Bunyan Baptist Church Annual Report 2020
## Bunyan Baptist Church 7
Annual accounts for the year ended 31 December 2020
Bunyan Baptist Church, Basils Road, Stevenage, Herts. SG1 3PY Registered charity no 1128843
CHARITY COMMISSION
FOR ENGLAND AND WALES
Independent examiner's
report on the accounts
Section A
Independent Examiner's Report
Report to the trusteesl
members of
Chanly Name
BUNYAN BAPTIST CHURCH. STEVENAGE
On aceounts for the year
ond8d
31 DECEMBER 2020
Charity no
(If any)
1128843
Sot out on pag•s
1 to8
Ir8memb8r to In¢lud& the page numb of addthonal sheetsi
I report to the trustees on my examination of the accounts of the above
charity ('Ihe Trust"} for the year ended 31112 12020.
Responsibilities and As the charity trustees of the Trust, you are responslbl8 for the preparation
basis of report of the accounts in accordance with the requirements ()f the Charities Act
2011 (Ihe Act.).
S report in respect of my examination of the Trust's accounts carried out
under section 145 of Ihe 2011 Act and in carying out my examination, I
hav8 followed the applicable Directions givèn by the Chartty Commission
under sedion 14515Xb) of the Act.
I have completed my examination. I confirm that no material matters have
come to my attention (other than that disclosed below '} in connection with
the examination which gives me cause to believe that in, any material
respect:
accounting rec¢xds were not kept in accordance wtth section 130 of
the Act or
the accounts do not accord with the accounting records
Independent
examlnerfs statement
I have no concems and have come across no other matters in connection
with the examination to which attention should be drawn in order to enable a
proper understanding of the accounts to be reached.
' Hease delete the words in th8 brackets rfthey do not apply.
Slgned:
Dato:
Namo:
BRIAN KELLY
Relovant professlonal
qualification{s) or body
(If any):
FCCA
Address:
7 BEESON CLOSE
LirrLE PAXTON, ST NEOTS
CAMBS PE19 6NE
IER
October 2018
Section B
Disclosure
Only rA)mplete If the examiner needs to highlight matters of conc8m (sae CC32.
Independent examination of charfty accounts: directions arKI guidan¢e for
examiners).
Give here brlef detall8 of
any items that the
examinor wlsh88 to
dlsclose.
Ne
IER
OCtor 2018
BBC SOFA 2020 210205 Approved by BK.xlsx
## **Bunyan Baptist Church**
## **STATEMENT OF FINANCIAL ACTIVITIES**
## **YEAR ENDED 31 DECEMBER 2020**
|**Notes**
**Incoming resources**
Donations & Tax Refunds
2
Investment Income
3
Hire of Church & Hall
Twinklers
**Total incoming resources**
**Resources expended**
Charitable expenditure
Grants payable
4
Cost of charitable activities
5
Twinklers
5
**Total resources expended**
Transfers between funds (Stanmore)
Transfers between funds (Other)
Net movement in funds
Total Funds brought forward
Total Funds carried forward|**Unrestricted**
**Designated**
**Restricted**
**Total 2020**
**Total 2019**
160,606
-
137,004
297,610
328,326
1,778
-
59,204
60,982
1,191
2,948
2,948
6,813
-
-
-
15,714
£165,332
£0
£196,208
£361,540
£352,043
21,400
-
7,857
29,257
43,321
137,446
-
23,176
160,622
139,595
-
-
-
-
15,121
£158,846
£0
£31,033
£189,879
198,037
-107,600
107,600
0
0
3,493
-3,493
0
0
-97,621
-3,493
272,775
171,661
154,006
£1,015,315
£33,493
£227,235
£1,276,043
£1,122,037
£917,693
£30,000
£500,011
£1,447,704
£1,276,043|
|---|---|
Page 1 of 7
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## **Bunyan Baptist Church**
## **BALANCE SHEET**
## **AS AT 31 DECEMBER 2020**
**----- Start of picture text -----**
Notes 2020 2019
£ £ £ £
Tangible Fixed assets 6 822,400 930,000
Current Assets
Debtors 7 46,512 57,517
Bank & Cash 8 579,189 292,209
625,701 349,726
Current Liabilities
Creditors due
within 1 year 9 397 £625,304 3,682 £346,043
Net assets £1,447,704 £1,276,043
Charitable Funds
Restricted 10 500,011 227,236
Designated 11 30,000 33,493
Unrestricted 917,693 1,015,314
1,447,704 £1,276,043
**----- End of picture text -----**
The notes on pages 3 to 6 form an integral part of these accounts.
These accounts were approved by the Elders & Deacons on 3rd March 2021 and signed on their behalf by
Dave Jappy
Hon. Treasurer
Mike Price
Secretary
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## **BUNYAN BAPTIST CHURCH**
## **NOTES TO THE ACCOUNTS**
## **YEAR ENDED 31 DECEMBER 2020**
## 1 **ACCOUNTING POLICIES**
## a
## Basis of Preparation
The accounts have been prepared on a "receipts and payments" basis in accord with S133 Charities Act 2011.
## b
## Donations
Donations are accounted for gross when received.
## c
## Investment Income
Investment income is included in the accounts in the year when it is payable.
## d Grants Payable
The church makes grants to other organisations whose charitable objects complement its work. They are accounted for in the year in which they are payable.
- e
## Fixed assets
Buildings : The Church, the Church Lounge and Stanmore Hall are included at their insurance valuation which was carried out in 2009 by the Baptist Insurance Company. At 31 December 2020 the buildings were insured for £1.31m.
Buildings are not depreciated in accordance with the Baptist Union guidelines (leaflet F7).
Furniture & Equipment : Assets are shown at cost less depreciation
- f
## Depreciation
Electrical equipment - assets are written off over 3 years on a straight-line basis Other furniture etc - assets are written off over 10 years on a straight-line basis.
Page 3 of 7
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|2
**Donations & Tax Refunds**
Offerings
Legacy
Gift Aid refund
Other Income
Grants
Twinklers Income|**Unrestricted**
**Designated**
**Restricted**
**Total 2020**
**Total 2019**
122,992
102,642
225,633
271,052
-
-
-
27,639
16,362
44,001
54,217
4,067
4,067
3,057
18,000
18,000
-
5,909
5,909
160,606
-
137,004
£297,610
£328,326|
|---|---|
_Unrestricted income including gift aid amounted to £151,266 in 2019. "Other Income" includes CTIS contribution towards administrator costs,wedding fees and EasyFundraising income Restricted offerings is £93,472 for Building Fund, £2,000 for Hardship causes, £7,170 restricted income shown within Grants Payable_
## 3 **Investment Income**
||Bank etc Interest
1,778
Profit on property sales
59,204|
|---|---|
||1,778
-
59,204
£60,982
£1,191|
|_4_|_Stanmore Hall was sold for £166,804 (nett). For accounting purposes this is split into_
_£107,600 asset value realised and £59,204 profit_
**_Grants Payable_**
Baptist Missionary Society
-
-
-
Home Mission Fund
7,500
7,500
5,500
Bridgebuilders
2,800
2,800
2,800
Familia Moja
1,000
940
1,940
4,775
WEC - Smiths
-
-
3,728
AIM - Pughs
10,100
-
10,100
10,500
Other
-
-
30
Kadoma Tarriro Childrens Home
-
-
13,647
Christmas Appeal 2019
3,320
3,320
2,342
Donations given with privacy
3,285
3,285
Broadwater Fair Trading/Vineyard Foodshed
312
312|
||£21,400
£0
£7,857
£29,257
£43,321|
_Unrestricted payments totalled £22,058 in 2019._
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|5
**Cost of Activities**
Notes
Ministry
a
Mission
b
Premises
c
Other expenditure
d
Twinklers|**Unrestricted**
**Designated**
**Restricted**
**Total 2020**
**Total 2019**
112,974
-
-
112,974
99,393
5,089
-
1,000
6,089
7,583
10,575
-
22,176
32,751
21,754
8,808
-
-
8,808
10,865
-
-
-
15,121
£137,446
£0
£23,176
£160,622
£154,716|
|---|---|
_Unrestricted payments totalled £135,098 in 2019. Restricted Premises payments totalled £4,497 in 2019_
## a **Costs of Ministry**
|Salaries
Social Security costs
Pension costs
Other costs|95,561
95,561
79,777
1,529
1,529
1,963
11,144
-
11,144
11,305
4,740
4,740
6,348|
|---|---|
|Total|£112,974
£0
£0
£112,974
£99,393|
|_Caretaker - Andy Taylor left the role at 31st October 2020._
**Costs of Mission**
Evangelism
81
81
1,235
Children's work
568
568
1,344
Youth work
350
350
623
Training
1,260
1,260
4,051
Hardship Fund
408
1,000
1,408
330
Twinklers
2,423
2,423||
||£5,089
£0
£1,000
£6,089
£7,583|
|**Costs of Premises**
Electricity, Gas & Water
Insurance
Cleaning
Upkeep of church premises
Stanmore Hall
Hire of premises
New building project|3,493
3,493
7,228
2,289
2,289
2,322
84
84
344
1,641
1,641
3,478
3,069
3,069
3,885
-
0
0
22,176
22,176
4,497|
||£10,575
£0
£22,176
£32,751
£21,754|
|**Other Costs**
Travel
Office Costs
Telephone & Internet
PA & Worship materials
Affiliation fees
Refreshments
Sundries
Bank Charges|116
116
487
3,680
3,680
4,243
799
799
728
2,048
2,048
1,474
1,023
1,023
994
340
340
1,594
65
65
511
736
736
834|
||£8,808
£0
£0
£8,808
£10,865|
## b **Costs of Mission**
## c **Costs of Premises**
## d **Other Costs**
Page 5 of 7
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|6|**Fixed assets**|**Premises**|**Furniture**|**Computers**|**Total 2020**|**Total 2019**|
|---|---|---|---|---|---|---|
||||**& Fittings**|**& Equpt.**|||
||01-Jan-20|930,000|-|-|930,000|930,000|
||Additions||||-|0|
||Disposals|107,600|||107,600|0|
||Depreciation||||-|0|
||31-Dec-20|822,400
£|-
£|-
£|822,400
£|£930,000|
|7|**Debtors**
Prepayments/Funds advanced
Overpayment
Gift Aid to claim||||2,296
0
44,216|2,289
1,011
54,216|
||||||£46,512|£57,517|
|8|_Prepayments represents £2296 for 2021 insurance_
**Bank & Cash**
BU Deposit A/c (7-day notice)
BU Deposit A/c (3-month notice)
BU Deposit A/c (3-month notice, Stanmore proceeds)
Natwest Current A/c
Natwest Savings A/c
Petty Cash
Twinklers Current A/C
Twinklers Petty Cash||||61,344
291,930
167,136
49,038
5,040
16
4,685
-|61,141
190,740
0
31,784
5,035
17
3,493
0|
||||||£579,189|£292,209|
|9|**Creditors**||||||
||_This represents money owed to_|_Inland Revenue (£215.62) for_|||397|£3,682|
|10|_past overclaim of GiftAid, plus TimeOut monies_
**Restricted Fund**
This represents money given for particular purposes, not yet expended:
Maintenance Fund
New Building Project
TimeOut Funds
Earmarked Hardship Funds||||16,676
481,835
-
1,500|16,676
210,560|
||||||£500,011|£227,236|
|11|**Designated Fund**
Vision seed fund
Twinklers
Long Term Maintenance||||10,000
-
20,000|10,000
3,493
20,000|
||_This represents money set aside for Long-Term Maintenance_||||£30,000|£33,493|
Page 6 of 7
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## 12 **Pensions**
The Church is a participating employer the Baptist Pension Scheme (“the Scheme”), which is a separate legal entity administered by the Pension Trustee (Baptist Pension Trust Limited). The assets of the Scheme are held separately from those of the Employer and the other participating employers.
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. Prior to this date the main benefit provided through the Defined Benefit (DB) Plan was a 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.
From January 2012, pension provision is being 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, which are operated and managed on behalf of the Pension Trustee by Legal and General Life Assurance Society Limited. 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 if 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 Limited. [Members of the Basic Section pay reduced contributions of 5% of Pensionable Income, and their employers also pay a total of 5%.]
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 the scheme is accounted for as if the Scheme were a defined contribution scheme.
The Ministers and some members of the church staff are eligible to join the Scheme.
## **Actuarial valuation as at 31 December 2019**
_A formal valuation of the DB Plan as at 31 December 2019 by a professionally qualified Actuary using the Projected Unit Method. At the valuation date the market value of the DB Plan assets 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%). 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._
_Bunyan's employer debt relating to the pension scheme is estimated at £38,500 as of 18th December 2020_
_The next actuarial valuation of the DB Plan within the Scheme is due to take place not later than 31 December 2022._
Page 7 of 7
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## Bunyan Baptist Church 7
Annual accounts for the year ended 31 December 2020
Bunyan Baptist Church, Basils Road, Stevenage, Herts. SG1 3PY Registered charity no 1128843
CHARITY COMMISSION
FOR ENGLAND AND WALES
Independent examiner's
report on the accounts
Section A
Independent Examiner's Report
Report to the trusteesl
members of
Chanly Name
BUNYAN BAPTIST CHURCH. STEVENAGE
On aceounts for the year
ond8d
31 DECEMBER 2020
Charity no
(If any)
1128843
Sot out on pag•s
1 to8
Ir8memb8r to In¢lud& the page numb of addthonal sheetsi
I report to the trustees on my examination of the accounts of the above
charity ('Ihe Trust"} for the year ended 31112 12020.
Responsibilities and As the charity trustees of the Trust, you are responslbl8 for the preparation
basis of report of the accounts in accordance with the requirements ()f the Charities Act
2011 (Ihe Act.).
S report in respect of my examination of the Trust's accounts carried out
under section 145 of Ihe 2011 Act and in carying out my examination, I
hav8 followed the applicable Directions givèn by the Chartty Commission
under sedion 14515Xb) of the Act.
I have completed my examination. I confirm that no material matters have
come to my attention (other than that disclosed below '} in connection with
the examination which gives me cause to believe that in, any material
respect:
accounting rec¢xds were not kept in accordance wtth section 130 of
the Act or
the accounts do not accord with the accounting records
Independent
examlnerfs statement
I have no concems and have come across no other matters in connection
with the examination to which attention should be drawn in order to enable a
proper understanding of the accounts to be reached.
' Hease delete the words in th8 brackets rfthey do not apply.
Slgned:
Dato:
Namo:
BRIAN KELLY
Relovant professlonal
qualification{s) or body
(If any):
FCCA
Address:
7 BEESON CLOSE
LirrLE PAXTON, ST NEOTS
CAMBS PE19 6NE
IER
October 2018
Section B
Disclosure
Only rA)mplete If the examiner needs to highlight matters of conc8m (sae CC32.
Independent examination of charfty accounts: directions arKI guidan¢e for
examiners).
Give here brlef detall8 of
any items that the
examinor wlsh88 to
dlsclose.
Ne
IER
OCtor 2018
BBC SOFA 2020 210205 Approved by BK.xlsx
## **Bunyan Baptist Church**
## **STATEMENT OF FINANCIAL ACTIVITIES**
## **YEAR ENDED 31 DECEMBER 2020**
|**Notes**
**Incoming resources**
Donations & Tax Refunds
2
Investment Income
3
Hire of Church & Hall
Twinklers
**Total incoming resources**
**Resources expended**
Charitable expenditure
Grants payable
4
Cost of charitable activities
5
Twinklers
5
**Total resources expended**
Transfers between funds (Stanmore)
Transfers between funds (Other)
Net movement in funds
Total Funds brought forward
Total Funds carried forward|**Unrestricted**
**Designated**
**Restricted**
**Total 2020**
**Total 2019**
160,606
-
137,004
297,610
328,326
1,778
-
59,204
60,982
1,191
2,948
2,948
6,813
-
-
-
15,714
£165,332
£0
£196,208
£361,540
£352,043
21,400
-
7,857
29,257
43,321
137,446
-
23,176
160,622
139,595
-
-
-
-
15,121
£158,846
£0
£31,033
£189,879
198,037
-107,600
107,600
0
0
3,493
-3,493
0
0
-97,621
-3,493
272,775
171,661
154,006
£1,015,315
£33,493
£227,235
£1,276,043
£1,122,037
£917,693
£30,000
£500,011
£1,447,704
£1,276,043|
|---|---|
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## **Bunyan Baptist Church**
## **BALANCE SHEET**
## **AS AT 31 DECEMBER 2020**
**----- Start of picture text -----**
Notes 2020 2019
£ £ £ £
Tangible Fixed assets 6 822,400 930,000
Current Assets
Debtors 7 46,512 57,517
Bank & Cash 8 579,189 292,209
625,701 349,726
Current Liabilities
Creditors due
within 1 year 9 397 £625,304 3,682 £346,043
Net assets £1,447,704 £1,276,043
Charitable Funds
Restricted 10 500,011 227,236
Designated 11 30,000 33,493
Unrestricted 917,693 1,015,314
1,447,704 £1,276,043
**----- End of picture text -----**
The notes on pages 3 to 6 form an integral part of these accounts.
These accounts were approved by the Elders & Deacons on 3rd March 2021 and signed on their behalf by
Dave Jappy
Hon. Treasurer
Mike Price
Secretary
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## **BUNYAN BAPTIST CHURCH**
## **NOTES TO THE ACCOUNTS**
## **YEAR ENDED 31 DECEMBER 2020**
## 1 **ACCOUNTING POLICIES**
## a
## Basis of Preparation
The accounts have been prepared on a "receipts and payments" basis in accord with S133 Charities Act 2011.
## b
## Donations
Donations are accounted for gross when received.
## c
## Investment Income
Investment income is included in the accounts in the year when it is payable.
## d Grants Payable
The church makes grants to other organisations whose charitable objects complement its work. They are accounted for in the year in which they are payable.
- e
## Fixed assets
Buildings : The Church, the Church Lounge and Stanmore Hall are included at their insurance valuation which was carried out in 2009 by the Baptist Insurance Company. At 31 December 2020 the buildings were insured for £1.31m.
Buildings are not depreciated in accordance with the Baptist Union guidelines (leaflet F7).
Furniture & Equipment : Assets are shown at cost less depreciation
- f
## Depreciation
Electrical equipment - assets are written off over 3 years on a straight-line basis Other furniture etc - assets are written off over 10 years on a straight-line basis.
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|2
**Donations & Tax Refunds**
Offerings
Legacy
Gift Aid refund
Other Income
Grants
Twinklers Income|**Unrestricted**
**Designated**
**Restricted**
**Total 2020**
**Total 2019**
122,992
102,642
225,633
271,052
-
-
-
27,639
16,362
44,001
54,217
4,067
4,067
3,057
18,000
18,000
-
5,909
5,909
160,606
-
137,004
£297,610
£328,326|
|---|---|
_Unrestricted income including gift aid amounted to £151,266 in 2019. "Other Income" includes CTIS contribution towards administrator costs,wedding fees and EasyFundraising income Restricted offerings is £93,472 for Building Fund, £2,000 for Hardship causes, £7,170 restricted income shown within Grants Payable_
## 3 **Investment Income**
||Bank etc Interest
1,778
Profit on property sales
59,204|
|---|---|
||1,778
-
59,204
£60,982
£1,191|
|_4_|_Stanmore Hall was sold for £166,804 (nett). For accounting purposes this is split into_
_£107,600 asset value realised and £59,204 profit_
**_Grants Payable_**
Baptist Missionary Society
-
-
-
Home Mission Fund
7,500
7,500
5,500
Bridgebuilders
2,800
2,800
2,800
Familia Moja
1,000
940
1,940
4,775
WEC - Smiths
-
-
3,728
AIM - Pughs
10,100
-
10,100
10,500
Other
-
-
30
Kadoma Tarriro Childrens Home
-
-
13,647
Christmas Appeal 2019
3,320
3,320
2,342
Donations given with privacy
3,285
3,285
Broadwater Fair Trading/Vineyard Foodshed
312
312|
||£21,400
£0
£7,857
£29,257
£43,321|
_Unrestricted payments totalled £22,058 in 2019._
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**Cost of Activities**
Notes
Ministry
a
Mission
b
Premises
c
Other expenditure
d
Twinklers|**Unrestricted**
**Designated**
**Restricted**
**Total 2020**
**Total 2019**
112,974
-
-
112,974
99,393
5,089
-
1,000
6,089
7,583
10,575
-
22,176
32,751
21,754
8,808
-
-
8,808
10,865
-
-
-
15,121
£137,446
£0
£23,176
£160,622
£154,716|
|---|---|
_Unrestricted payments totalled £135,098 in 2019. Restricted Premises payments totalled £4,497 in 2019_
## a **Costs of Ministry**
|Salaries
Social Security costs
Pension costs
Other costs|95,561
95,561
79,777
1,529
1,529
1,963
11,144
-
11,144
11,305
4,740
4,740
6,348|
|---|---|
|Total|£112,974
£0
£0
£112,974
£99,393|
|_Caretaker - Andy Taylor left the role at 31st October 2020._
**Costs of Mission**
Evangelism
81
81
1,235
Children's work
568
568
1,344
Youth work
350
350
623
Training
1,260
1,260
4,051
Hardship Fund
408
1,000
1,408
330
Twinklers
2,423
2,423||
||£5,089
£0
£1,000
£6,089
£7,583|
|**Costs of Premises**
Electricity, Gas & Water
Insurance
Cleaning
Upkeep of church premises
Stanmore Hall
Hire of premises
New building project|3,493
3,493
7,228
2,289
2,289
2,322
84
84
344
1,641
1,641
3,478
3,069
3,069
3,885
-
0
0
22,176
22,176
4,497|
||£10,575
£0
£22,176
£32,751
£21,754|
|**Other Costs**
Travel
Office Costs
Telephone & Internet
PA & Worship materials
Affiliation fees
Refreshments
Sundries
Bank Charges|116
116
487
3,680
3,680
4,243
799
799
728
2,048
2,048
1,474
1,023
1,023
994
340
340
1,594
65
65
511
736
736
834|
||£8,808
£0
£0
£8,808
£10,865|
## b **Costs of Mission**
## c **Costs of Premises**
## d **Other Costs**
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|6|**Fixed assets**|**Premises**|**Furniture**|**Computers**|**Total 2020**|**Total 2019**|
|---|---|---|---|---|---|---|
||||**& Fittings**|**& Equpt.**|||
||01-Jan-20|930,000|-|-|930,000|930,000|
||Additions||||-|0|
||Disposals|107,600|||107,600|0|
||Depreciation||||-|0|
||31-Dec-20|822,400
£|-
£|-
£|822,400
£|£930,000|
|7|**Debtors**
Prepayments/Funds advanced
Overpayment
Gift Aid to claim||||2,296
0
44,216|2,289
1,011
54,216|
||||||£46,512|£57,517|
|8|_Prepayments represents £2296 for 2021 insurance_
**Bank & Cash**
BU Deposit A/c (7-day notice)
BU Deposit A/c (3-month notice)
BU Deposit A/c (3-month notice, Stanmore proceeds)
Natwest Current A/c
Natwest Savings A/c
Petty Cash
Twinklers Current A/C
Twinklers Petty Cash||||61,344
291,930
167,136
49,038
5,040
16
4,685
-|61,141
190,740
0
31,784
5,035
17
3,493
0|
||||||£579,189|£292,209|
|9|**Creditors**||||||
||_This represents money owed to_|_Inland Revenue (£215.62) for_|||397|£3,682|
|10|_past overclaim of GiftAid, plus TimeOut monies_
**Restricted Fund**
This represents money given for particular purposes, not yet expended:
Maintenance Fund
New Building Project
TimeOut Funds
Earmarked Hardship Funds||||16,676
481,835
-
1,500|16,676
210,560|
||||||£500,011|£227,236|
|11|**Designated Fund**
Vision seed fund
Twinklers
Long Term Maintenance||||10,000
-
20,000|10,000
3,493
20,000|
||_This represents money set aside for Long-Term Maintenance_||||£30,000|£33,493|
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## 12 **Pensions**
The Church is a participating employer the Baptist Pension Scheme (“the Scheme”), which is a separate legal entity administered by the Pension Trustee (Baptist Pension Trust Limited). The assets of the Scheme are held separately from those of the Employer and the other participating employers.
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. Prior to this date the main benefit provided through the Defined Benefit (DB) Plan was a 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.
From January 2012, pension provision is being 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, which are operated and managed on behalf of the Pension Trustee by Legal and General Life Assurance Society Limited. 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 if 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 Limited. [Members of the Basic Section pay reduced contributions of 5% of Pensionable Income, and their employers also pay a total of 5%.]
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 the scheme is accounted for as if the Scheme were a defined contribution scheme.
The Ministers and some members of the church staff are eligible to join the Scheme.
## **Actuarial valuation as at 31 December 2019**
_A formal valuation of the DB Plan as at 31 December 2019 by a professionally qualified Actuary using the Projected Unit Method. At the valuation date the market value of the DB Plan assets 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%). 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._
_Bunyan's employer debt relating to the pension scheme is estimated at £38,500 as of 18th December 2020_
_The next actuarial valuation of the DB Plan within the Scheme is due to take place not later than 31 December 2022._
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