Refreshing community for everyone
## Bunyan Baptist Church Stevenage
## Annual Report 2022
## 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) (to December 2022) Mr Michael Price (Secretary) Mr David Jappy (Treasurer) (to March 2022) Mrs Judith Turner (as Trustee from January 2022 and Treasurer from March 2022) Mr Eric Beach Mrs Margaret Bugyei-Kyei (from September 2022) Mr Alan Curtis (to March 2022) Mrs Jan Fry (to January 2022) Mr Peter Homfray-Cooper Mr Stephen Jackman Mrs Sheila Smith Mrs Titilope Soyinka
**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 2022.
Bunyan Baptist Church Annual Report 2022
## **Charitable Object**
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.
We are an all-age community with a passion for Jesus and sharing the good news of His love. We get together regularly, with groups and events for all ages. Our Sunday services are held at 10:30am (which is also live-streamed onto YouTube) and at 6:30pm in the
Bunyan Baptist Church Annual Report 2022
evening. In addition, an informal service designed specifically for families with young children meets once a month on a Saturday morning at 10.00 a.m.
There are occasional services at other times which are advertised in the Church Notices and the website at www.bunyan.org.uk. There is a full children’s and young people’s programme during the morning services. The church seeks to be a friendly and welcoming community and anybody is free to attend any of these services.
The Church 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 Charity Trustees on request, or at the Sunday services of worship.
The Church is responsible for a Toddler Group (Twinklers), which meets in the Church premises on Tuesday, Wednesday, and Thursday mornings during term time, with the purpose of assisting the community and demonstrating the love of Jesus Christ. It also runs a group called Tiny Twinklers for parents/carers with new-born babies until 12 months, which meets later on a Tuesday morning during term time.
Weekday Welcome is a new venture on Wednesday afternoons from 3 pm to 4.30 pm, which seeks to host those who would have previously joined in with Twinklers Plus and Gems, as well as any wider family, and will offer a space to sit, chat and play, over a cuppa and some cake!
The Church runs a group for Key Stage 2 children (Thursday Club) each week during term time. This group is supervised by a trained group of volunteers.
The Church runs a Monday Youth Club for young people aged 11 to 18 during term time. They regularly enjoy the comfort of the Lounge in our refurbished premises, as well as enjoying a programme of outdoor activities and outings. These are all properly supervised by a trained team of youth workers.
The Church operates systems to ensure that all people working with children and vulnerable adults are appropriately vetted regarding the Disclosure and Barring Service.
The Church runs a daytime group (Time Out) for adults of all ages which meets twice per month.
**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 2022 was a year of rebuilding for the church, after the enforced closure of the pandemic, and the completion of significant building works, allowed us to gather again and enjoy the enhanced practicality of our extended premises. It was encouraging to celebrate baptisms, dedications, and weddings once again, and to enjoy a full programme of events, both inside, and outside in our local parks.
Following a public profession of their faith in Jesus Christ, fifteen people were received into church membership. At 31 December 2022 the membership stood at 168, eleven more 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, and the foodbank.
Bunyan Baptist Church Annual Report 2022
## **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 co-ordinate 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.
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 assessed the major risks facing the church, and are satisfied that there are policies in place to minimise these risks.
Bunyan Baptist Church Annual Report 2022
## Bunyan Baptist Church
Annual accounts for the year ended 31 December 2022
Bunyan Baptist Church, Basils Road, Stevenage, Herts. SG1 3PY Registered charity no 1128843
CHARITY COMMISSION
FOR ENGLAND AND WALES
Independent examlner's
report on the accounts
Section A
Independent Examinerfs Report
Report to the trusteesl
members of Bunyan BaptBI Church. Stevenage
On accounts ft>r the yoar 311)ecember 2022
nded
Charity no ,' 1128843
lif any) j
Set out on paggs 1 and 2
l pOr1 lo the trustees on my examinati¢)n of the accounts of the above
chanty {"the Trust") for the year ended 31112 12022.
R8spon$lbllltles and As the charity trustees of the Trust. you are responwble for Ihe preparation
basis of report of the accounls in a¢xordance wilh the requirements of the Chants'es Act
20111"the Ad'l.
I report In resped of my eXamin"0n of the Trust's accounts carried out
uThder section 145 of the 2011 Act and in carryirwJ oul rny examinalion. I
have followed the applicable Directh?ns given by the Charlty Commission
under section 14515Xb) of the Act.
I have completed my examination. I c4Jnfim that no material matters have
c¢)me lo my attention
n connection with
the examinatson which gives me cause to believe that in. any material
spect..
accounting records wefe not kept in accordan wrth sectN?n 130 of
the Act or
the accounts do rx)t ac(xYd with the accounb'ng r8cords-
Independent
examlnerfs statement
I have concems and have come across no other malters in conneciion
with the examination to which attention should t* drawn in Order to enable a
proper uTrlerstsnding of the a¢nIS to be reached.
' Please dalele the ¥rdS in the brackets rfthey do nol apply.
Signed: |
Namo: ' BRIAN KELLY
Date:
Relevant professlonal B.A. PGCE
qualificationlsl or body
{rf any}:
Address: 346 Grace Way
Slevenage
SG1 SAP
IER
October 2018
Section B
Disclosure
Only complete if the examiner needs to highlight matters of concern (see CC32.
Independent examination of chanty accounts: d1ctionS and guidance for
examiners).
Give here brief detai18 of
any Items Ihat the
examiner wishes to
disclose.
Minor improvement- Ensur8 all invoices and bills are addressed to the church
even rf the name of the contacting individual is additionally included in the
address.
IER
October 2018
BBC SOFA 2022
## **Bunyan Baptist Church**
## **STATEMENT OF FINANCIAL ACTIVITIES**
## **YEAR ENDED 31 DECEMBER 2022**
|**Notes**
**Incoming resources**
Donations & Tax Refunds
2
Investment Income
3
Hire of Church & Hall
**Total incoming resources**
**Resources expended**
Charitable expenditure
Grants payable
4
Cost of charitable activities
5
**Total resources expended**
Transfers between funds (Des/Restr)
Transfers between funds (Unrest/Rest)
Net movement in funds
Total Funds brought forward
Total Funds carried forward|**Unrestricted**
**Designated**
**Restricted**
**Total 2022**
**Total 2021**
175,405
-
28,622
204,027
214,613
1,808
-
-
1,808
1,210
2,875
2,875
720
£180,088
-
28,622
£208,710
£216,543
25,350
-
4,499
29,849
28,057
161,283
-
1,759
163,042
149,969
£186,633
-
£6,258
£192,891
178,026
0
0
0
0
0
42,459
0
-42,459
0
0
35,914
0
-20,095
15,819
38,517
£1,362,497
£20,000
£103,724
£1,486,221
£1,447,704
£1,398,411
£20,000
£83,629
**£1,502,040**
£1,486,221|
|---|---|
Page 1 of 7
15/03/2023
Bec SOFA 2W
Bunyan 8aptl8t Chur¢h
8ALANCE SHeET
AS AT 31 DECUIBER 2022
Ta8 Fix•d assds
1,419,369
1,398338
current As88t8
DebtfKS
B8nk & Cash
35.7
37.498
1.93$
204.487
Current ti8bilitiBB
crlit(y due withTn 1 ye
Lmg Terrn Credittirs
22,424
10
121.V
£82,671
140,750
Net &sget5
£1,486,221
Chèiitat48 Funds
R8slrLted
t)88ionaled
Urrntficled
83.629
103.726
12
1,398.411
1,362,497
£1,486,221
The noteson page5 3 to8 fLth • intwal part of th8s8 accwnls.
Th a¢¢ounts w8r8 approvett by tsTru&te86 on 8th March 2023
and $1gn8d on thwr b8haf by
Judith Tumèr
Hon. Tr8asur8r
Mlke Prke
Pogb2of7
02ffjW2023 18.'57
BBC SOFA 2022
## **BUNYAN BAPTIST CHURCH**
## **NOTES TO THE ACCOUNTS**
## **YEAR ENDED 31 DECEMBER 2022**
## 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 premises are included at their insurance valuation which was carried
out in 2009 by the Baptist Insurance Company plus additional sums to reflect building improvements carried out during 2021.
At 31 December 2022 the buildings were insured for £2.058m.
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
15/03/2023
BBC SOFA 2022
2 **Donations & Tax Refunds**
|**Donations & Tax Refunds**
Offerings
Legacy
Gift Aid refund
Other Income
Grants
Twinklers Income|**Unrestricted**
**Designated**
**Restricted**
**Total 2022**
**Total 2021**
127,486
23,745
151,232
167,621
-
-
-
27,660
4,877
32,537
34,824
8,589
-
8,589
3,066
-
-
-
-
2,278
11,670
11,670
6,823
175,405
-
28,622
£204,027
£214,613|
|---|---|
_"Other Income" includes CTIS admin contribution,EasyFundraising income and Funeral donations Restricted Offerings is £18,639 for Building Fund, £2,452 Foodshed, Hardship fund £1550 and Christmas appeal 2022 Payments shown under Grants Payable_
|3|**Investment Income**
Bank etc Interest|1,808
1,808
1,210|
|---|---|---|
|||1,808
-
-
£1,808
£1,210|
|4|**Grants Payable**
Baptist Missionary Society
100
100
200
200
Home Mission Fund
6,150
6,150
6,150
Bridgebuilders
2,800
20
2,820
2,800
Familia Moja
3,000
62
3,062
1,120
WEC - Smiths
3,150
3,150
2,553
AIM - Pughs
10,150
-
10,150
10,120
Other
-
160
160
-
Christmas Appeal 2021 received 2022(Fam Moja)
679
679
2,594
Appeal 2021 (Toilet Twinning) -received 2022
24
24
426
Foodshed - Twinklers Preloved gifts event
1,100
1,100
Broadwater FairTrade/Foodshed
2,355
2,355
2,094||
|||£25,350
£0
£4,499
£29,849
£28,057|
Page 4 of 7
15/03/2023
BBC SOFA 2022
|5
**Cost of Activities**
Notes
Ministry
a
Mission
b
Premises
c
Other expenditure
d|**Unrestricted**
**Designated**
**Restricted**
**Total 2022**
**Total 2021**
115,000
-
-
115,000
116,265
5,664
-
1,759
7,423
5,404
21,173
-
-
21,173
9,142
19,446
-
-
19,446
19,158
£161,283
£0
£1,759
£163,042
£149,969|
|---|---|
_Unrestricted payments totalled £141,768 in 2021. Restricted payments totalled £8,202 in 2021_
## a **Costs of Ministry**
|Salaries
Social Security costs
Pension costs
Other costs
Total
b
**Costs of Mission**
Evangelism
Children's work
Youth work
Training
Hardship Fund
Twinklers
c
**Costs of Premises**
Electricity, Gas & Water
Insurance
Cleaning
Upkeep of church premises
Hire of premises
d
**Other Costs**
Travel
Office Costs
Telephone & Internet
PA & Worship materials
Affiliation fees
Refreshments
Sundries
Bank Charges
BU Loan Interest Charges|96,633
96,633
94,659
1,536
1,536
1,739
11,791
-
11,791
12,543
5,041
5,041
7,324
£115,000
£0
£0
£115,000
£116,265
112
112
57
633
633
334
1,001
1,001
345
1,434
1,434
910
-
1,759
1,759
540
2,485
2,485
3,219
£5,664
£0
£1,759
£7,423
£5,404
4,474
4,474
2,404
2,673
2,673
2,397
320
320
694
13,405
13,405
3,646
300
300
-
£21,173
£0
£0
£21,173
£9,142
793
793
318
3,955
3,955
3,272
685
685
705
4,886
-
4,886
10,073
1,058
1,058
994
902
902
277
733
733
534
740
740
694
5,694
5,694
2,290
£19,446
£0
£0
£19,446
£19,158|
|---|---|
## b **Costs of Mission**
## d **Other Costs**
Page 5 of 7
15/03/2023
BBC SOFA 2022
|6|**Fixed assets**|**Premises**|**Furniture**|**Computers**|**Total 2022**|**Total 2021**|
|---|---|---|---|---|---|---|
||||**& Fittings**|**& Equpt.**|||
||01-Jan-22|1,398,538|-|-|1,398,538|822,400|
||Additions|19,290||1,541|20,831|576,138|
||Disposals||||-|0|
||Depreciation||||-|0|
||31-Dec-22
£|1,417,828
|-
£|1,541
£|1,419,369
£|£1,398,538|
|7|_Monies spent during 2022 on the building project have been capitalised to reflect the increased value of the_
_Interest charges on the BU Building Loan have NOT been capitalised._
**Debtors**
Prepayments/Funds advanced
3,070
Gift Aid to claim
32,537|||||_property._
2,673
34,824|
||||||£35,607|£37,498|
|8|_Prepayments represents 2023 insurance_
**Bank & Cash**
BU Deposit A/c (7-day notice)
BU Deposit A/c (3-month notice)
Natwest Current A/c
Natwest Savings A/c
Petty Cash
Twinklers Current A/C||||92,912
12,856
54,297
5,051
17
3,726
-|91,495
12,629
73,466
5,040
16
8,289
0|
||||||£168,860|£190,935|
|9|**Creditors**
Baptist Union Loan (for repayment due within 1 year)
Sundry Creditors||||21,682
742|21681.96
3708.45|
||||||22,424|£397|
|10|**Long Term Creditors**||||||
||Baptist Union Loan||||99,372|115360|
|11|_Represents Baptist Union Building loan outstanding less 2023 estimated payments_
**Restricted Fund**
This represents money given for particular purposes, not yet expended:
New Building Project
Building Loan Fund
Streaming Funds
Earmarked Hardship Funds||||67,759
12,769
2,338
764|88,784
11,642
2,338
960|
||||||£83,629|£103,725|
|12|**Designated Fund**
Long Term Maintenance||||20,000|20,000|
||_This represents money set aside for Long-Term Maintenance_||||£20,000|£20,000|
Page 6 of 7
15/03/2023
BBC SOFA 2022
## 13 **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.
_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%). The Church and the other participating employers in the DB Plan are collectively responsible for funding this deficit. The next actuarial valuation of the DB Plan within the Scheme is due to take place not later than as at 31 December 2022._
_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._
Page 7 of 7
15/03/2023
## Bunyan Baptist Church
Annual accounts for the year ended 31 December 2022
Bunyan Baptist Church, Basils Road, Stevenage, Herts. SG1 3PY Registered charity no 1128843
CHARITY COMMISSION
FOR ENGLAND AND WALES
Independent examlner's
report on the accounts
Section A
Independent Examinerfs Report
Report to the trusteesl
members of Bunyan BaptBI Church. Stevenage
On accounts ft>r the yoar 311)ecember 2022
nded
Charity no ,' 1128843
lif any) j
Set out on paggs 1 and 2
l pOr1 lo the trustees on my examinati¢)n of the accounts of the above
chanty {"the Trust") for the year ended 31112 12022.
R8spon$lbllltles and As the charity trustees of the Trust. you are responwble for Ihe preparation
basis of report of the accounls in a¢xordance wilh the requirements of the Chants'es Act
20111"the Ad'l.
I report In resped of my eXamin"0n of the Trust's accounts carried out
uThder section 145 of the 2011 Act and in carryirwJ oul rny examinalion. I
have followed the applicable Directh?ns given by the Charlty Commission
under section 14515Xb) of the Act.
I have completed my examination. I c4Jnfim that no material matters have
c¢)me lo my attention
n connection with
the examinatson which gives me cause to believe that in. any material
spect..
accounting records wefe not kept in accordan wrth sectN?n 130 of
the Act or
the accounts do rx)t ac(xYd with the accounb'ng r8cords-
Independent
examlnerfs statement
I have concems and have come across no other malters in conneciion
with the examination to which attention should t* drawn in Order to enable a
proper uTrlerstsnding of the a¢nIS to be reached.
' Please dalele the ¥rdS in the brackets rfthey do nol apply.
Signed: |
Namo: ' BRIAN KELLY
Date:
Relevant professlonal B.A. PGCE
qualificationlsl or body
{rf any}:
Address: 346 Grace Way
Slevenage
SG1 SAP
IER
October 2018
Section B
Disclosure
Only complete if the examiner needs to highlight matters of concern (see CC32.
Independent examination of chanty accounts: d1ctionS and guidance for
examiners).
Give here brief detai18 of
any Items Ihat the
examiner wishes to
disclose.
Minor improvement- Ensur8 all invoices and bills are addressed to the church
even rf the name of the contacting individual is additionally included in the
address.
IER
October 2018
BBC SOFA 2022
## **Bunyan Baptist Church**
## **STATEMENT OF FINANCIAL ACTIVITIES**
## **YEAR ENDED 31 DECEMBER 2022**
|**Notes**
**Incoming resources**
Donations & Tax Refunds
2
Investment Income
3
Hire of Church & Hall
**Total incoming resources**
**Resources expended**
Charitable expenditure
Grants payable
4
Cost of charitable activities
5
**Total resources expended**
Transfers between funds (Des/Restr)
Transfers between funds (Unrest/Rest)
Net movement in funds
Total Funds brought forward
Total Funds carried forward|**Unrestricted**
**Designated**
**Restricted**
**Total 2022**
**Total 2021**
175,405
-
28,622
204,027
214,613
1,808
-
-
1,808
1,210
2,875
2,875
720
£180,088
-
28,622
£208,710
£216,543
25,350
-
4,499
29,849
28,057
161,283
-
1,759
163,042
149,969
£186,633
-
£6,258
£192,891
178,026
0
0
0
0
0
42,459
0
-42,459
0
0
35,914
0
-20,095
15,819
38,517
£1,362,497
£20,000
£103,724
£1,486,221
£1,447,704
£1,398,411
£20,000
£83,629
**£1,502,040**
£1,486,221|
|---|---|
Page 1 of 7
15/03/2023
Bec SOFA 2W
Bunyan 8aptl8t Chur¢h
8ALANCE SHeET
AS AT 31 DECUIBER 2022
Ta8 Fix•d assds
1,419,369
1,398338
current As88t8
DebtfKS
B8nk & Cash
35.7
37.498
1.93$
204.487
Current ti8bilitiBB
crlit(y due withTn 1 ye
Lmg Terrn Credittirs
22,424
10
121.V
£82,671
140,750
Net &sget5
£1,486,221
Chèiitat48 Funds
R8slrLted
t)88ionaled
Urrntficled
83.629
103.726
12
1,398.411
1,362,497
£1,486,221
The noteson page5 3 to8 fLth • intwal part of th8s8 accwnls.
Th a¢¢ounts w8r8 approvett by tsTru&te86 on 8th March 2023
and $1gn8d on thwr b8haf by
Judith Tumèr
Hon. Tr8asur8r
Mlke Prke
Pogb2of7
02ffjW2023 18.'57
BBC SOFA 2022
## **BUNYAN BAPTIST CHURCH**
## **NOTES TO THE ACCOUNTS**
## **YEAR ENDED 31 DECEMBER 2022**
## 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 premises are included at their insurance valuation which was carried
out in 2009 by the Baptist Insurance Company plus additional sums to reflect building improvements carried out during 2021.
At 31 December 2022 the buildings were insured for £2.058m.
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
15/03/2023
BBC SOFA 2022
2 **Donations & Tax Refunds**
|**Donations & Tax Refunds**
Offerings
Legacy
Gift Aid refund
Other Income
Grants
Twinklers Income|**Unrestricted**
**Designated**
**Restricted**
**Total 2022**
**Total 2021**
127,486
23,745
151,232
167,621
-
-
-
27,660
4,877
32,537
34,824
8,589
-
8,589
3,066
-
-
-
-
2,278
11,670
11,670
6,823
175,405
-
28,622
£204,027
£214,613|
|---|---|
_"Other Income" includes CTIS admin contribution,EasyFundraising income and Funeral donations Restricted Offerings is £18,639 for Building Fund, £2,452 Foodshed, Hardship fund £1550 and Christmas appeal 2022 Payments shown under Grants Payable_
|3|**Investment Income**
Bank etc Interest|1,808
1,808
1,210|
|---|---|---|
|||1,808
-
-
£1,808
£1,210|
|4|**Grants Payable**
Baptist Missionary Society
100
100
200
200
Home Mission Fund
6,150
6,150
6,150
Bridgebuilders
2,800
20
2,820
2,800
Familia Moja
3,000
62
3,062
1,120
WEC - Smiths
3,150
3,150
2,553
AIM - Pughs
10,150
-
10,150
10,120
Other
-
160
160
-
Christmas Appeal 2021 received 2022(Fam Moja)
679
679
2,594
Appeal 2021 (Toilet Twinning) -received 2022
24
24
426
Foodshed - Twinklers Preloved gifts event
1,100
1,100
Broadwater FairTrade/Foodshed
2,355
2,355
2,094||
|||£25,350
£0
£4,499
£29,849
£28,057|
Page 4 of 7
15/03/2023
BBC SOFA 2022
|5
**Cost of Activities**
Notes
Ministry
a
Mission
b
Premises
c
Other expenditure
d|**Unrestricted**
**Designated**
**Restricted**
**Total 2022**
**Total 2021**
115,000
-
-
115,000
116,265
5,664
-
1,759
7,423
5,404
21,173
-
-
21,173
9,142
19,446
-
-
19,446
19,158
£161,283
£0
£1,759
£163,042
£149,969|
|---|---|
_Unrestricted payments totalled £141,768 in 2021. Restricted payments totalled £8,202 in 2021_
## a **Costs of Ministry**
|Salaries
Social Security costs
Pension costs
Other costs
Total
b
**Costs of Mission**
Evangelism
Children's work
Youth work
Training
Hardship Fund
Twinklers
c
**Costs of Premises**
Electricity, Gas & Water
Insurance
Cleaning
Upkeep of church premises
Hire of premises
d
**Other Costs**
Travel
Office Costs
Telephone & Internet
PA & Worship materials
Affiliation fees
Refreshments
Sundries
Bank Charges
BU Loan Interest Charges|96,633
96,633
94,659
1,536
1,536
1,739
11,791
-
11,791
12,543
5,041
5,041
7,324
£115,000
£0
£0
£115,000
£116,265
112
112
57
633
633
334
1,001
1,001
345
1,434
1,434
910
-
1,759
1,759
540
2,485
2,485
3,219
£5,664
£0
£1,759
£7,423
£5,404
4,474
4,474
2,404
2,673
2,673
2,397
320
320
694
13,405
13,405
3,646
300
300
-
£21,173
£0
£0
£21,173
£9,142
793
793
318
3,955
3,955
3,272
685
685
705
4,886
-
4,886
10,073
1,058
1,058
994
902
902
277
733
733
534
740
740
694
5,694
5,694
2,290
£19,446
£0
£0
£19,446
£19,158|
|---|---|
## b **Costs of Mission**
## d **Other Costs**
Page 5 of 7
15/03/2023
BBC SOFA 2022
|6|**Fixed assets**|**Premises**|**Furniture**|**Computers**|**Total 2022**|**Total 2021**|
|---|---|---|---|---|---|---|
||||**& Fittings**|**& Equpt.**|||
||01-Jan-22|1,398,538|-|-|1,398,538|822,400|
||Additions|19,290||1,541|20,831|576,138|
||Disposals||||-|0|
||Depreciation||||-|0|
||31-Dec-22
£|1,417,828
|-
£|1,541
£|1,419,369
£|£1,398,538|
|7|_Monies spent during 2022 on the building project have been capitalised to reflect the increased value of the_
_Interest charges on the BU Building Loan have NOT been capitalised._
**Debtors**
Prepayments/Funds advanced
3,070
Gift Aid to claim
32,537|||||_property._
2,673
34,824|
||||||£35,607|£37,498|
|8|_Prepayments represents 2023 insurance_
**Bank & Cash**
BU Deposit A/c (7-day notice)
BU Deposit A/c (3-month notice)
Natwest Current A/c
Natwest Savings A/c
Petty Cash
Twinklers Current A/C||||92,912
12,856
54,297
5,051
17
3,726
-|91,495
12,629
73,466
5,040
16
8,289
0|
||||||£168,860|£190,935|
|9|**Creditors**
Baptist Union Loan (for repayment due within 1 year)
Sundry Creditors||||21,682
742|21681.96
3708.45|
||||||22,424|£397|
|10|**Long Term Creditors**||||||
||Baptist Union Loan||||99,372|115360|
|11|_Represents Baptist Union Building loan outstanding less 2023 estimated payments_
**Restricted Fund**
This represents money given for particular purposes, not yet expended:
New Building Project
Building Loan Fund
Streaming Funds
Earmarked Hardship Funds||||67,759
12,769
2,338
764|88,784
11,642
2,338
960|
||||||£83,629|£103,725|
|12|**Designated Fund**
Long Term Maintenance||||20,000|20,000|
||_This represents money set aside for Long-Term Maintenance_||||£20,000|£20,000|
Page 6 of 7
15/03/2023
BBC SOFA 2022
## 13 **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.
_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%). The Church and the other participating employers in the DB Plan are collectively responsible for funding this deficit. The next actuarial valuation of the DB Plan within the Scheme is due to take place not later than as at 31 December 2022._
_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._
Page 7 of 7
15/03/2023