## Annual Report 2023
## Bunyan Baptist Church
Charity Registration Number: 1128843 Registered Address: Basils Road, Stevenage, Herts SG1 3PY Trustees: The Revd Andrew Ginn (Lead Minister) (to February 2023) Mr Michael Price (Secretary) Mrs Judith Turner (Treasurer) Mr Eric Beach Mrs Margaret Bugyei-Kyei Mr Alan Curtis (from January 2023) Mr Paul Feltham (from March 2023) 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 2023.
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 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.
Bunyan Baptist Church Annual Report 2022
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 meets on Wednesday afternoons from 3.15 pm to 4.15 pm, which provides an after-school meeting place for families, and will offer a space to sit, chat and play, over a cuppa and some cake!
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 2023 was a year of change for the church, as our Lead Minister, Rev Andrew Ginn, moved away from Stevenage to lead another Baptist church in Sheffield. We continue the search for a new Lead Minister to replace Andrew. We continue to celebrate baptisms, dedications, and weddings, 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, ten people were received into church membership. At 31 December 2023 the membership stood at 156, six 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, and the foodbank.
## 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.
Bunyan Baptist Church Annual Report 2022
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 2023
Bunyan Baptist Church, Basils Road, Stevenage, Herts. SG1 3PY Registered charity no 1128843
## **Independent examiner's report on the accounts**
**Section A Independent Examiner’s Report**
**Report to the trustees/** Charity Name **members of** Bunyan Baptist Church, Stevenage **On accounts for the year** 31 December 2023 **Charity no** 1128843 **ended (if any) Set out on pages** 1 and 2 (remember to include the page numbers of additional sheets)
- I report to the trustees on my examination of the accounts of the above charity (“the Trust”) for the year ended 31 / 12 / 2023.
- **Responsibilities and** As the charity trustees of the Trust, you are responsible for the preparation **basis of report** of the accounts in accordance with the requirements of the Charities Act 2011 (“the Act”).
I report in respect of my examination of the Trust’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination, I have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
**Independent** I have completed my examination. I confirm that no material matters have **examiner's statement** come to my attention ~~(other than that disclosed below *) i~~ n connection with the examination which gives me cause to believe that in, any material respect:
- accounting records were not kept in accordance with section 130 of the Act or
- the accounts do not accord with the accounting records
I have no concerns 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.
* _Please delete the words in the brackets if they do not apply._
**Signed: Date:** 2/3/2024 ~~PO [|~~ **Name:** BRIAN KELLY ~~Cs~~ **Relevant professional** B.A. PGCE **qualification(s) or body (if any): Address:** 346 Grace Way Stevenage SG1 5AP
**October 2018**
1
**IER**
**Section B Disclosure**
Only complete if the examiner needs to highlight matters of concern (see CC32, Independent examination of charity accounts: directions and guidance for examiners).
**Give here brief details of any items that the examiner wishes to disclose** .
**October 2018**
2
**IER**
BBC SOFA 2023
## **Bunyan Baptist Church**
## **STATEMENT OF FINANCIAL ACTIVITIES**
## **YEAR ENDED 31 DECEMBER 2023**
|**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 2023**
**Total 2022**
172,325
-
21,685
194,010
204,027
3,570
-
-
3,570
1,808
1,631
1,631
2,875|
|---|---|
||£177,526
-
21,685
£199,211
£208,710|
||28,458
-
4,375
32,832
29,849
75,035
-
1,157
76,192
163,042|
||£103,492
-
£5,532
£109,024
192,891|
||0
0
0
0
0
61,375
0
-61,375
0
0
135,409
0
-45,222
90,188
15,819|
||£1,398,411
£20,000
£83,629
£1,502,040
£1,486,221
£1,533,820
£20,000
£38,407
**£1,592,228**
£1,502,040|
Page 1 of 1
07/03/2024 17:48
aec soPAwJ25
8unyan Baptist Church
BALANCE SHEET
AS AT 31 DECEMBER 2023
2023
2022
FL assets
1.458.575
1,419,369
CL*reni Assd5
Debters
Bank & Cash
33.175
136.122
169.298
35.807
168.8e
Cwreni Lkqbilities
Credtrtor5 due wttN"n I
LoThJ Term Cr1
72.099
13.546
35.645
10
£133.652
121,7
£82,671
Nel a55ets
£1
£1502 040
Cl¥fitabl8 Funds
Restrthd
Designat¥l
Unrestric
12
1.$33.S20
1.398.411
£1.502.040
Tha notes pages 3 10 6 8n integfal pat oftheje xoxrfs.
ThesE aGcoun15 were apwo¥*d ty the Tftjstees on &h March 2024
and their behalf by
JrthT[W
Hon. Treasw8r
Mike Prre
Secratsry
P*J•2of7
12Q2r2024 15."11
BBC SOFA 2023
## **BUNYAN BAPTIST CHURCH**
## **NOTES TO THE ACCOUNTS**
## **YEAR ENDED 31 DECEMBER 2023**
## 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 reviewed in 2022 by the Baptist Insurance Company plus additional sums to reflect building improvements carried out during 2021.
At 31 December 2023 the buildings were insured for £2.119m.
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 1 of 5
07/03/2024 17:48
BBC SOFA 2023
2 **Donations & Tax Refunds**
|**Donations & Tax Refunds**
Offerings
Legacy
Gift Aid refund
Other Income
Grants
Twinklers Income|**Unrestricted**
**Designated**
**Restricted**
**Total 2023**
**Total 2022**
130,971
17,919
148,890
151,232
-
-
-
26,183
3,766
29,949
32,537
4,588
-
4,588
8,589
-
-
-
-
-
10,584
10,584
11,670|
|---|---|
||172,325
-
21,685
£194,010
£204,027|
_"Other Income" includes CTIS admin contribution, EasyFundraising income and donations for coach travel to Andrew's induction service_
_Restricted Offerings includes Building Fund £13,819, Foodshed/Broadwater Fair Trade £3,029,_ BridgeBuilders/Familia Moja/Other £1,071, before Gift Aid _Payments are shown under Grants Payable_
## 3 **Investment Income**
||Bank etc Interest|3,570||||3,570|1,808|
|---|---|---|---|---|---|---|---|
|||3,570|-||-|£3,570|£1,210|
|4|**Grants Payable**|||||||
||Baptist Missionary Society|200||||200|200|
||Home Mission Fund|7,620||||7,620|6,150|
||Bridgebuilders|3,000|||537|3,537|2,820|
||Familia Moja|1,188|||294|1,481|3,062|
||WEC - Smiths|3,300||||3,300|3,150|
||AIM - Pughs|13,150||||13,150|10,150|
||Broadwater FairTrade/Foodshed||||3,544|3,544|3,455|
||Other|-||||-|160|
||Christmas Appeal 2021 received 2022(Fam Moja)|||||-|679|
||Appeal 2021 (Toilet Twinning) -received 2022|||||-|24|
|||£28,458||£0|£4,375|£32,832|£29,849|
Page 2 of 5
07/03/2024 17:48
BBC SOFA 2023
||||**Unrestricted**|**Designated**|**Restricted**|**Total 2023**|**Total 2022**|
|---|---|---|---|---|---|---|---|
|5|**Cost of Activities**|Notes||||||
||Ministry|a|32,528|-|-|32,528|115,000|
||Mission|b|6,299|-|764|7,062|7,423|
||Premises|c|19,399|-|-|19,399|21,173|
||Other expenditure|d|16,809|-|394|17,203|19,446|
||||£75,035|£0|£1,157|£76,192|£163,042|
||_Unrestricted payments totalled £161,283 in 2022 and Restricted_|||_payments totalled £1,759_||||
|a|**Costs of Ministry**|||||||
||Salaries||28,613|||28,613|96,633|
||Social Security costs||242|||242|1,536|
||Pension costs||1,323|-||1,323|11,791|
||Other costs||2,350|||2,350|5,041|
||Total||£32,528|£0|£0|£32,528|£115,000|
|b|**Costs of Mission**|||||||
||Evangelism||189|||189|112|
||Children's work||968|||968|633|
||Youth work||158|||158|1,001|
||Training||1,120|||1,120|1,434|
||Hardship Fund||499||764|1,262|1,759|
||Twinklers||3,365|||3,365|2,485|
||||£6,299|£0|£764|£7,062|£7,423|
|c|**Costs of Premises**|||||||
||Electricity, Gas & Water||4,632|||4,632|4,474|
||Insurance||3,070|||3,070|2,673|
||Cleaning||351|||351|320|
||Upkeep of church premises||11,345|||11,345|13,405|
||Hire of premises||-|||0|300|
||||£19,399|£0|£0|£19,399|£21,173|
|d|**Other Costs**|||||||
||Travel||843|||843|793|
||Office Costs||3,444|||3,444|3,955|
||Telephone & Internet||386|||386|685|
||PA & Worship materials||1,322||394|1,716|4,886|
||Affiliation fees||1,217|||1,217|1,058|
||Refreshments||2,354|||2,354|902|
||Sundries||441|||441|733|
||Bank Charges||945|||945|740|
||BU Loan Interest Charges||5,856|||5,856|5,694|
||||£16,809|£0|£394|£17,203|£19,446|
Page 3 of 5
07/03/2024 17:48
BBC SOFA 2023
|6|**Fixed assets**||**Premises**||**Furniture**||**Computers**||**Total 2023**|**Total**|**2022**|
|---|---|---|---|---|---|---|---|---|---|---|---|
||||||**& Fittings**||**& Equpt.**|||||
||01-Jan-23||1,417,828||-||1,541||1,419,369|1,398,538||
||Additions||39,206||||||39,206|20,831||
||Disposals||||||||-||0|
||Depreciation||||||||-||0|
||31-Dec-23|£|1,457,034
|£|-
|£|1,541
|£|1,458,575
|£1,419,369||
||_Money spent during 2023 on the building_||_project have been_||_capitalised to reflect the increased_||||_value of the_|_property._||
||_Interest charges on the BU Building Loan_||_have NOT been_|_capitalised._||||||||
|7
**Debtors**
Prepayments/Funds advanced
Gift Aid to claim
_Prepayments represents 2024 insurance_
8
**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 and Equals Money prepaid card
Twinklers Current A/C
9
**Creditors**
Baptist Union Loan (for repayment due within 1 year)
Sundry Creditors
10
**Long Term Creditors**
Baptist Union Loan
_Represents Baptist Union Building loan outstanding less 2023 estimated payments_
11
**Restricted Fund**
This represents money given for particular purposes, not yet expended:
New Building Project
Building Loan Fund
Streaming Funds
Earmarked Hardship Funds
12
**Designated Fund**
Long Term Maintenance
_This represents money set aside for Long-Term Maintenance_|3,157
3,070
30,018
32,537|
|---|---|
||£33,175
£35,607|
||30,029
92,912
44,132
12,856
45,853
54,297
5,112
5,051
51
17
10,945
3,726
-
0|
||£136,122
£168,860|
||21,682
21681.96
417
741.97|
||£22,099
£22,424|
|||
||13,546
£99,372|
||28,552
67,759
7,911
12,769
1,945
2,338
-
764|
||£38,408
£83,629|
||20,000
20,000|
||£20,000
£20,000|
Page 4 of 5
07/03/2024 17:48
BBC SOFA 2023
## 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. Since 1 January 2012, benefits have been provided through a Defined Contribution (DC) Plan.
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 5 of 5
07/03/2024 17:48
## Bunyan Baptist Church
Annual accounts for the year ended 31 December 2023
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 Examinef s Report
Report to the trusteesl
members of
Bunyan Baptist Church. Stevenage
On accounts for the year
ended
31 Dernber 2023
Charty no
lif any)
1128843
Set out on pages
1and2
-lu-Je the p49¢ numb¢-r& ol additional 5hoetsi
I report to the trustees on my examination of the accounts of the above
charity llhe Trusf) for the year ended 31112 12023.
Responsibilities and As the charity tnjstees of the Trust. you are resF)onsible for the preparation
basis of report of the accounts in accordancÈ with the requirements of the Charities Act
2011 1.the Acri.
I report in resped of my examination of the Trust's accounts carried out
under section 145 of the 2011 Act and in carrying out my examination. I
have followed the applicable Directions given by the Charity Commission
under section 145(5Xb} of the Act.
I have completed my examination. I confim that no material matters have
come to my attention
in connection with
the examination which gives me cause to believe that in. any material
respect..
accounting records were not kept in accordance with section 130 of
the Act or
the accounts do not accord with the accounting re¢ords
Independont
examiner's statement
I have no concems and have come across no other matters in connection
with the examination lo which attention should be drawn in order lo enable a
proper understanding of the accounts lo be reached.
. Please delete the words in the brackets rfthey do not 2pply.
Signed:
Date:
21312024
Name:
BRIAN KELLY
Relevant professional
qualrficationlsl or body
{rf any):
B.A. PGCE
Address:
346 Gra Way
Stevenage
SG1 SAP
IER
October 2018
Section B
Disclosure
Only complete if the examiner needs to highlight matters of concern {see CC32,
Independent examinatK)n of charity accounts" directions and guidance for
examiners).
Give here brief dotails of
any items that the
examingr wishes to
disclose.
IER
October 2018
BBC SOFA 2023
## **Bunyan Baptist Church**
## **STATEMENT OF FINANCIAL ACTIVITIES**
## **YEAR ENDED 31 DECEMBER 2023**
|**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 2023**
**Total 2022**
172,325
-
21,685
194,010
204,027
3,570
-
-
3,570
1,808
1,631
1,631
2,875|
|---|---|
||£177,526
-
21,685
£199,211
£208,710|
||28,458
-
4,375
32,832
29,849
75,035
-
1,157
76,192
163,042|
||£103,492
-
£5,532
£109,024
192,891|
||0
0
0
0
0
61,375
0
-61,375
0
0
135,409
0
-45,222
90,188
15,819|
||£1,398,411
£20,000
£83,629
£1,502,040
£1,486,221
£1,533,820
£20,000
£38,407
**£1,592,228**
£1,502,040|
Page 1 of 1
07/03/2024 17:48
aec soPAwJ25
8unyan Baptist Church
BALANCE SHEET
AS AT 31 DECEMBER 2023
2023
2022
FL assets
1.458.575
1,419,369
CL*reni Assd5
Debters
Bank & Cash
33.175
136.122
169.298
35.807
168.8e
Cwreni Lkqbilities
Credtrtor5 due wttN"n I
LoThJ Term Cr1
72.099
13.546
35.645
10
£133.652
121,7
£82,671
Nel a55ets
£1
£1502 040
Cl¥fitabl8 Funds
Restrthd
Designat¥l
Unrestric
12
1.$33.S20
1.398.411
£1.502.040
Tha notes pages 3 10 6 8n integfal pat oftheje xoxrfs.
ThesE aGcoun15 were apwo¥*d ty the Tftjstees on &h March 2024
and their behalf by
JrthT[W
Hon. Treasw8r
Mike Prre
Secratsry
P*J•2of7
12Q2r2024 15."11
BBC SOFA 2023
## **BUNYAN BAPTIST CHURCH**
## **NOTES TO THE ACCOUNTS**
## **YEAR ENDED 31 DECEMBER 2023**
## 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 reviewed
in 2022 by the Baptist Insurance Company plus additional sums to reflect building improvements carried out during 2021.
At 31 December 2023 the buildings were insured for £2.119m.
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 1 of 5
20/03/2024 17:27
BBC SOFA 2023
2 **Donations & Tax Refunds**
|**Donations & Tax Refunds**
Offerings
Legacy
Gift Aid refund
Other Income
Grants
Twinklers Income|**Unrestricted**
**Designated**
**Restricted**
**Total 2023**
**Total 2022**
130,971
17,919
148,890
151,232
-
-
-
26,183
3,766
29,949
32,537
4,588
-
4,588
8,589
-
-
-
-
-
10,584
10,584
11,670
172,325
-
21,685
£194,010
£204,027|
|---|---|
_"Other Income" includes CTIS admin contribution, EasyFundraising income and donations for coach travel to Andrew's induction service_
_Restricted Offerings includes Building Fund £13,819, Foodshed/Broadwater Fair Trade £3,029,_ BridgeBuilders/Familia Moja/Other £1,071, before Gift Aid _Payments are shown under Grants Payable_
## 3 **Investment Income**
||Bank etc Interest|3,570
3,570
1,210|
|---|---|---|
|||3,570
-
-
£3,570
£1,210|
|4|**Grants Payable**
Baptist Missionary Society
200
200
200
Home Mission Fund
7,620
7,620
6,150
Bridgebuilders
3,000
537
3,537
2,820
Familia Moja
1,188
294
1,481
3,062
WEC - Smiths
3,300
3,300
3,150
AIM - Pughs
13,150
13,150
10,150
Broadwater FairTrade/Foodshed
3,544
3,544
3,455
Other
-
-
160
Christmas Appeal 2021 received 2022(Fam Moja)
-
679
Appeal 2021 (Toilet Twinning) -received 2022
-
24||
|||£28,458
£0
£4,375
£32,832
£29,849|
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||||**Unrestricted**|**Designated**|**Restricted**|**Total 2023**|**Total 2022**|
|---|---|---|---|---|---|---|---|
|5|**Cost of Activities**|Notes||||||
||Ministry|a|32,528|-|-|32,528|115,000|
||Mission|b|6,299|-|764|7,062|7,423|
||Premises|c|19,399|-|-|19,399|21,173|
||Other expenditure|d|16,809|-|394|17,203|19,446|
||||£75,035|£0|£1,157|£76,192|£163,042|
||_Unrestricted payments totalled £161,283 in 2022 and Restricted_|||_payments totalled £1,759_||||
|a|**Costs of Ministry**|||||||
||Salaries||28,613|||28,613|96,633|
||Social Security costs||242|||242|1,536|
||Pension costs||1,323|-||1,323|11,791|
||Other costs||2,350|||2,350|5,041|
||Total||£32,528|£0|£0|£32,528|£115,000|
|b|**Costs of Mission**|||||||
||Evangelism||189|||189|112|
||Children's work||968|||968|633|
||Youth work||158|||158|1,001|
||Training||1,120|||1,120|1,434|
||Hardship Fund||499||764|1,262|1,759|
||Twinklers||3,365|||3,365|2,485|
||||£6,299|£0|£764|£7,062|£7,423|
|c|**Costs of Premises**|||||||
||Electricity, Gas & Water||4,632|||4,632|4,474|
||Insurance||3,070|||3,070|2,673|
||Cleaning||351|||351|320|
||Upkeep of church premises||11,345|||11,345|13,405|
||Hire of premises||-|||0|300|
||||£19,399|£0|£0|£19,399|£21,173|
|d|**Other Costs**|||||||
||Travel||843|||843|793|
||Office Costs||3,444|||3,444|3,955|
||Telephone & Internet||386|||386|685|
||PA & Worship materials||1,322||394|1,716|4,886|
||Affiliation fees||1,217|||1,217|1,058|
||Refreshments||2,354|||2,354|902|
||Sundries||441|||441|733|
||Bank Charges||945|||945|740|
||BU Loan Interest Charges||5,856|||5,856|5,694|
||||£16,809|£0|£394|£17,203|£19,446|
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|6|**Fixed assets**|**Premises**|**Furniture**|**Computers**|**Total 2023**|**Total 2022**|
|---|---|---|---|---|---|---|
||||**& Fittings**|**& Equpt.**|||
||01-Jan-23|1,417,828|-|1,541|1,419,369|1,398,538|
||Additions|39,206|||39,206|20,831|
||Disposals||||-|0|
||Depreciation||||-|0|
||31-Dec-23
£|1,457,034
|-
£|1,541
£|1,458,575
£|£1,419,369|
|7|_Money spent during 2023 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
3,157
Gift Aid to claim
30,018|||||_property._
3,070
32,537|
||||||£33,175|£35,607|
|8|_Prepayments represents 2024 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 and Equals Money prepaid card
Twinklers Current A/C||||30,029
44,132
45,853
5,112
51
10,945
-|92,912
12,856
54,297
5,051
17
3,726
0|
||||||£136,122|£168,860|
|9|**Creditors**
Baptist Union Loan (for repayment due within
Sundry Creditors|1 year)|||21,682
417|21681.96
741.97|
||||||£22,099|£22,424|
|10|**Long Term Creditors**||||||
||Baptist Union Loan||||13,546|£99,372|
|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||||28,552
7,911
1,945
-|67,759
12,769
2,338
764|
||||||£38,408|£83,629|
|12|**Designated Fund**
Long Term Maintenance||||20,000|20,000|
||_This represents money set aside for Long-Term Maintenance_||||£20,000|£20,000|
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## 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. Since 1 January 2012, benefits have been provided through a Defined Contribution (DC) Plan.
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.
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