|CONTENTS||Page Number|
|---|---|---|
|Trustees Report||2-12|
|Independent
Examiners|Report|13|
|Statement ofFinancial|Activities|14|
|Balance Sheet||15|
|Notes to the accounts||16-28|
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|||||||||As restated|
|---|---|---|---|---|---|---|---|---|
||||Unrestricted||Designated|Restricted|Total|Total|
|||||Funds|Funds|Funds|2021|2020|
||||Note||8||8|f|
|income and eadowments||from|||||||
|Donations
and legacies|||2|103,968|900|1,866|106,734|73,666|
|Incoming resources from operating|||||||||
|activities|||3|4,620||2,079|6,699|4,665|
|Investments|||4|3,591||47|3,638|17,045|
|Other|||10|2,439|||2,439||
|Total||||114,618|900|3,992|119410|95,376|
|Expenditure
oa|||||||||
|Grants|||5||12,936|3,127|16,063|15,002|
|Activities directly relating to the work|||||||||
|ofthe church
Other|||6
7|93,768
2,520||1,800|95468
2,520|54,651
2,520|
|Total|||8|96,288|12,936|4,927|114,151|72,173|
|Net income (expenditure)||||18,330|(12,036)|(935)|5859|23,203|
|Transfers
between funds|||9|(12,036)|12,036||||
|Other recogaised
gains/Sussex)||||6,294||(935)|5459|23,203|
|Actuarial
gains/(losses)|on|defined|||||||
|benefit pension|||11|52|||52|860|
|Net movement
ia funds||||6,346||(935)|5,411|24,063|
|Reconciliation offuads|||||||||
|Total funds brought
forward||||75,511|I|1,155,292|1,230,804|1,206,741|
|Total funds carried forward||||81,857|I|1,154,357|1,236/15|1,230,804|
|||||||||As restated|
|||||||||Total|
|||||||||2020|
|Reconciliation offuads||||||||8|
|Original
total funds brought
forward
Prior year adjustment
(Note 21)||||||||1,238,441
(31,700)|
|Restated total funds brought||forward||||||1,206,741|
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||||||||As|restated|
|---|---|---|---|---|---|---|---|---|
|||||Note|f|2021|f|2020
f|
|Fixed assets|||||||||
|Tangible|assets|||12||675,075||674,088|
|Current|assets||||||||
|Debtors||||13|4,523||6,068||
|Cash at bank and in||hand||14|584,603||585,271||
||||||589i126||591,339||
|Liabilities|||||||||
|Creditors:|Amounts|falling due|||||||
|within
one year||||15|4,886||6,823||
|Net curreat assets||excluding|pension liablity|||584440||584,516|
|||||||1,259415||1,258,604|
|Defiaed benefit peesion scheme liability||||11||23,100||27,800|
|Total assets||||||1,236,215||1,230,804|
|Funds|||||||||
|Restricted||||16||1,154357||1,155,292|
|Designated||||17|||||
|Unrestricted||||||81,857||75,511|
|||||||1,236415||1,230,804|
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|Donations|and legacies||||||
|---|---|---|---|---|---|---|
|||Unrestricted|Designated
f.|Restrictedf|2021f|2020f|
|Offerings||87,316|720|1,528|89464|61,174|
|Tax refunds||16,652|180|338|17,170|12,492|
|||103,968|900|1,866|106,734|73,666|
|3|Income resources from operating|activities||||||
|---|---|---|---|---|---|---|---|
|||Unrestricted
f|Designated
f||Restricted|2021
f|2020
f|
||Use ofpremises
Special events and fundraising|4,620|||2,079|4,620
2,079|4,275
390|
|||4,620|||2,079|6,699|4,665|
|4|Investments|||||||
|||Unrestricted
f|Designated||Restricted
f|2021
f|2020
f|
||Bank interest|ll|||47|58|495|
||Rent received|3,580||||39580|16,550|
|||3,591|||47|3,638|17,045|
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|Grants|||||||
|---|---|---|---|---|---|---|
|||Unrestricted|Designated
f|Restricted
f|2021
f|2020
f|
|Overseas missionary
work|||8,036|2,129|10,165|7,655|
|Overseas social welfare and relief|||||||
|UK Churches|and colleges||||||
|UK missions|and evangelical||||||
|workers|||3,100||3,100|2,892|
|UK social welfare and relief|||1,800|948|2,748|3,903|
|Communion|Fund gigs|||50|50|552|
||||12,936|3,127|16,063|15,002|
|SIM International|(N Brand)|5,910|
|---|---|---|
|Home Mission||3,100|
|Kings Kids||2,129|
|The Haven||1,800|
|BMSWorld Mission||1,110|
|Ben and Heather|Rex|1,016|
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|Activities|directly relating to|the work ofthe church|the work ofthe church||||As restated|
|---|---|---|---|---|---|---|---|
|||Unrestricted
f|Designated
f||Restricted
8|2021|2020|
|Administration||12,694||||12)694|14,917|
|Children's|work|66||||66|168|
|Evangelism||200||||200||
|Fabric||38,252||||38452|24,524|
|Finance||8,212|||1,800|10,012|13,091|
|Media and|communications|1,690||||1,690|1,841|
|Pastoral care||32,579||||32,579||
|Social action||||||||
|Youth Work||||||||
|Worship||75||||75|110|
|||93,768|||1,800|95068|54,651|
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|Other||||||||||
|---|---|---|---|---|---|---|---|---|---|
|||||Unrestricted
f|Designated
f||Restrictedf|2021|2020|
|Feeofthe|independent||examiner|1,440||||1,440|1,440|
|Accountancy||fees||1,080||||1,080|1,080|
|||||2,520||||2,520|2,520|
|Total resources expended|||||||||As restated|
|||||Staffcosts
f|Depreciation|f|Other costsf|2021
f|2020|
|Administration||||5,741|||6,953|12,694|14,917|
|Children's|work||||||66|66|168|
|Evangelism|||||||200|200||
|Fabric|||||107||38,145|38452|24,524|
|Finance||||6,676|329||3,007|10,012|13,091|
|Media and|communications||||511||1,179|1,690|1,841|
|Pastoral care||||32,549|||30|32/79||
|Worship|||||||75|75|110|
|Grants payable|||||||16,063|16,063|15,002|
|Governance|costs||||||2,520|2,520|2,520|
|||||44,966|947||68,238|114,151|72,173|
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|The key financial
assumptions
underlying
the valuation|The key financial
assumptions
underlying
the valuation|The key financial
assumptions
underlying
the valuation|were as follows:||
|---|---|---|---|---|
|Type ofassumption
RPI price inflation
assumption||||v/v pa
3.20|
|CPI price inflation
assumption||||2.70|
|Minimum
Pensionable
Income Increase Adjustment||(above CPI)||0.50|
|Pre-retirement
assumed
investment|returns
(gilt yield plus 1.75'/s pa)|||2.95|
|Post retirement
assumed
investment|returns (including||benefits matched|1.70|
|by the insurance
policy) (gilt yield|plus 0.5'/o pa)||||
|Minimum
Pensionable
Income increases (CPI plus 0.5/v)||||3.20|
|Deferred pension
increases (based|on RPI)||||
|Pre April 2009||||3.20|
|Post April 2009||||2.50|
|Pension increases|||||
|Based on CPI with an annual|floor of0'/v and|annual cap of5'/o||2.70|
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|||||2021f|2020|
|---|---|---|---|---|---|
|Balance sheet liability at|year|start||27,800|31,700|
|Minus deficiency contributions||paid||(4,995)|(3,681)|
|Interest cost (recognised|in SOFA)|||347|641|
|Remaining
change to balance||sheet liability s (recognised|in SOFA)|(52)|(860)|
|Balance sheet liability at|year|end||23,100|27,800|
||||2021|2020|2019|
|---|---|---|---|---|---|
|Discount rate|||2.00%|1,40%|2.10/a|
|Future increases to Minimum|Pensionable|Income|4.10%|3.20%|3.30/o|
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|13|Debtors||2021|2020|
|---|---|---|---|---|
||Income tax|recoverable|2,536|2,111|
||Debtors for|goods and services|175||
||Prepayments|and accrued interest|1,812|3,957|
||||4,523|6,068|
##
||||||||
|---|---|---|---|---|---|---|
|14|Bank and cash balances||||2021|2020f|
||National
Westminster|Bank - Business Reserve Account|||473i295|473,248|
||HSBC Bank||||Illi308|112,023|
||||||584,603|585,271|
|15|Creditors: Amounts|falling due withia one year|||2021|2020f|
||Creditors for goods and services||||1,418|4,303|
||Accruals||||2,520|2,520|
||Other creditors||||948||
||||||4,886|6,823|
|16|Restricted Funds|I January|Incoming|Resources||31December|
|||2021f|resourcesf|expendedf|Transfers
f|2021
f|
||Property Fund|295,000||||295i000|
||Communion
Fund|5,645|118|(50)||5,713|
||New Building Fund|854,647|797|(1,800)||853,644|
||Offerings||810|(810)|||
||Special events and fundraising||2,079|(2,079)|||
||Tax refunds||188|(188)|||
|||1,155,292|3,992|(4,927)||1,154@57|
|17|Designated
Funds|I January|Incoming|Resources|31December||
|||2021f|resourcesf|expendedf|Transfers
f|2021
f|
||Kingdom
Fund|I|900|(12,936)|12,036|I|
|18|Analysis ofnet assets|Fixed|Current|Current|Total|Total|
|||assetsf|assetsf|liabilities
f|2021
f|2020f|
||Restricted Funds|673,035|482,270|(948)|1,154457|1,155,292|
||Designated
Funds||I||I|I|
||Unrestricted
Funds|2,040|106,855|(27,038)|81,857|75,511|
|||675,075|589,126|(27,986)|1,236815|1,230,804|
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|Total funds brought
forward
I January 2020|||1,238,441|
|---|---|---|---|
|Pension scheme deficit liability as at I January 2020|||(31,700)|
|Total funds restated as at I January 2020|||1,206,741|
|Net movement
in funds before Prior year adjustment|||20,163|
|Prior year adjustment
(see below)|||3,900|
|Total funds carried forward 31 December 2020 restated|||1,230,804|
|Prior year adjustment||||
|Deficiency contributions
paid (was included|in Pastoral care)||3,681|
|Interest cost (recognised
in SOFA) (included|in Finance)||(641)|
|Actuarial
gain on re-measurement
ofliability|(recognised|in SOFA)|860|
||||3,900|
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|22|Organisation|Accounts|||||||
|---|---|---|---|---|---|---|---|---|
||||1 January|||Net surplus|Transfers (to) 31 December||
||||2021|Income|Expenses|(deficit)
f|from GBC
f|2021|
||Fish &Bricks|(note 2)|80,439|84,154|(81,824)|2,330||82,769|
||Little Fish Toddler||||||||
||Group||934|203|(428)|(225)||709|
||||81,373|84,357|(82,252)|2,105||83,478|