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2022-12-31-accounts

REGISTERED CHARITY NUMBER: 1129467

EASTHAMPSTEAD BAPTIST CHURCH

Report of the Trustees and Financial Statements for the year ended 31 December 2022

Easthampstead Baptist Church

Contents of the Financial Statements for the year ended 31 December 2022

Independent Examiner’s Report ............................................................................................................................................ 7 Statement of Financial Activities ........................................................................................................................................... 8 Balance Sheet ....................................................................................................................................................................... 9 Notes to the Financial Statements ...................................................................................................................................... 10

Easthampstead Baptist Church

Report of the Trustees for the year ended 31 December 2022

The Trustees present their report with the financial statements of the charity for the year ending 31 December 2022.

The financial statements comply with the Charities Act 2011 and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015).

REFERENCE AND ADMINISTRATIVE DETAILS

Charity name Registered charity number Charity’s principal address

Easthampstead Baptist Church 1129467 Easthampstead Baptist Church South Hill Road Easthampstead Bracknell Berkshire RG12 7NS

Names of the charity Trustees who manage the charity: Trustees up to March 2022

Mr S Lace Team Leader Ms P Marsh Ministry Director Mr O Fawole Mr R Lea Treasurer Mr P Roe Mr P Jones Mr D Emery Mrs E Charlton

From April 2022

Mr S Lace Team Leader Ms P Marsh Ministry Director Mr O Fawole Church Secretary Mr R Lea Treasurer Mr P Roe Mr P Jones Mrs J Darby Shearing

Principal Bankers

The Co-operative Bank PLC P.O. Box 250 Delf House Southway Skelmersdale WN8 6WT

Independent Examiner

L A Evans BSc FCA Stewart & Co. Accountants LLP Knoll House Knoll Road Camberley Surrey GU15 3SY

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Easthampstead Baptist Church

Report of the Trustees for the year ended 31 December 2022

STRUCTURE, GOVERNANCE AND MANAGEMENT

The charity

Easthampstead Baptist Church was registered under a Constitution on 16 October 2008 with the registration number 1129467.

Recruitment, induction and training of new Trustees

The charity is controlled by its Constitution, which was agreed at a Church Meeting in October 2008, and put forward to the Charity Commission in mid-April 2009.

The governance of the church is as follows: whole church policy and issues are addressed at church meetings, which happen at least four times per year.

At these, major decisions are made and, when required, Trustees, Church Secretary and Treasurer will be/are appointed. The Church Elders are responsible for spiritual oversight, policy and future direction. The Trustees are responsible for the development and general running of the church and this group consists of the Team Leader, Treasurer, Church Secretary and elected individuals from the church membership.

Induction and training for new trustees includes “on the job” coaching/mentoring and the requirement to read through and understand the Baptist Union Guideline Leaflet C15 which has been specifically written for Church Secretaries, Treasurers, Ministers, Elders and other Charity Trustees.

Trust Management

The Elders are responsible for the oversight of the Church’s vision. They keep under review the ministries and other activities of the church and consider any new proposals to ensure that they fit within the overall ethos and contribute to fulfilling vision of the church.

The Elders may from time to time make recommendations to the Trustees Team but as a group they have no direct decision making powers. They also provide pastoral support to the Team Leader and assist him or her with matters of serious confidential pastoral concern, in which context only do they act independently of the Trustees Team.

Elders include the Team Leader; the remainder are appointed by the church meeting (as with appointments to the Trustees Team, the support of at least 2/3 of the members present and voting is required). Elders are nominated by the Trustees Team, usually in response to advice from the serving Elders. Currently there are four Elders in addition to the Team Leader and Minister.

The Trustees are responsible for the overall leading and management of the church. In recent years, the increasing introduction of specific staff roles to lead individual areas of ministry from day-to-day has meant that the Trustees Team is primarily concerned with broader areas of oversight, staffing and financial management.

Trustees Team members are appointed by the Church Meeting at the AGM following a rigorous nomination process, usually for a period of three years. In the period prior to the AGM, members are asked to prayerfully consider whom they might nominate to serve on the Trustees Team. They will be advised of the number of vacancies and the names of any serving trustees who have reached the end of their term but are willing to stand again. Those individuals who receive at least seven nominations are then approached by the Team Leader who will tell them of their nomination and talk to them about the role, and their suitability for it before they prayerfully decide whether or not to allow their names to go forward.

Although there is no limit on the time an individual may serve on this team, they must be actively re-appointed after their three-year term. There are currently seven members of the Trustees Team.

The church Treasurer and the Church Secretary are nominated from the Trustees Team.

From time to time the Trustees will appoint sub-groups to advise them on specific topics, such as building work or staffing reviews.

Mr Lace and Mrs Marsh are the only remunerated Trustee.

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Easthampstead Baptist Church

Report of the Trustees for the year ended 31 December 2022

Risk management

Three main areas of risk have been identified against the successful functioning of the Church:

Other risks relate to specific events and activities rather than the overall liability and development of the church and are addressed by monitoring by team leaders and oversight by the trustees.

The trustees have complied with the duty in section 4 of the 2006 Charities Act to have due regard to guidance published by the Charity Commission in respect of public benefit.

Public Benefit

We continue to review the activities of the Church in order to identify ways in which we can provide a greater service to the community in which it is situated.

The Church has continued to provide public benefit in numerous ways, and the work normally includes the following activities--

Storehouse

For many years now we have run a ministry to the community that we call “Storehouse”. We accept donations of good quality furniture and household items. Where we know of someone who is in need (through our own contacts or referred to us by local agencies) we either give them needed items directly if we have them in stock or we use the “Storehouse Fund” to buy things such as white goods, clothing or hygiene items. The Storehouse fund comes from two specific Sunday offerings we have each year.

We have a branded van (provided by a grant from the local authority) that is used to collect and deliver items. In 2022, we were delighted to realise a long-held vision for this ministry with the addition of a dedicated on-site storage facility that we can easily access throughout the week. Storehouse continued to be busy in 2022, with many deliveries being made to Ukrainian refugee families in addition to the usual mix of local people being referred to us for a variety of socio-economic reasons.

(Social) Action Sundays

In 2022 we went ahead with plans to rebrand our ‘Action Sundays’ as ‘Social Action Sundays’ (SAS). These help to foster within the church a wider sense of community involvement than just talking about it. In effect, we are giving up something that we love to do in order to do something practical to help others.

The first of these Sunday mornings usually happens in late Spring when there is a “fifth Sunday” in the month. Rather than hold our usual services we head out in small teams to carry out local community projects. In 2022 this included litter picking, tidying up school gardens and repainting schoolrooms/corridors, and writing to persecuted Christians around the world. On the second occasion, in November, we held our “Shoe Box Sunday” when we dedicated our service time to filling shoe boxes for Operation Christmas Child, using items that individuals and the church itself had donated.

Helping the Disadvantaged

Along with other churches in the town, we continue to support the Pilgrim Hearts charity in their work with the homeless and disadvantaged. A member of our staff team is employed as our Social Action Team Leader, with responsibility for spearheading our work in areas like Storehouse, the planning of our Social Action Sundays and partnering with groups like Pilgrim Hearts to co-ordinate help for people in need across our area.

Local Agencies and Groups

Because of our support for community projects and ministries such as Storehouse and the lunch clubs, the church is held in generally good regard by the local authorities and our local councillors. Local agencies frequently refer needy folk to us for help and some hire our buildings for training and conferences.

We have good relationships with the local police and PCSOs who sometimes attend our services.

Easthampstead Baptist Church also plays a full role in the ecumenical Bracknell churches group known as “Bracknell Christian Network” (BCN), which collectively supports the town centre pastoral group named ‘One Step Closer’. As well as engaging in the weekly Zoom meetings of the various church leaders in 2022, Easthampstead Baptist Church also hosts a quarterly breakfast prayer meeting for the group, as well as providing admin support for ‘One Step Closer’ in the form of our paid Social Action Team Leader, some of whose time is given to this scheme.

In these ways, the trustees have complied with the duty in section 17(5) of the 2011 Charities Act to have due regard to the guidance issued by the charity Commission in respect of public benefit.

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Easthampstead Baptist Church

Report of the Trustees for the year ended 31 December 2022

OBJECTIVES AND ACTIVITIES Objectives and aims

The primary objective for the year was to fulfil the church’s stated purpose which is: “To love God, to love people and to grow together to become more like Jesus” Each ministry in the church contributes towards that goal

Each year the church sets strategic objectives which are discussed and agreed between the Trustees and the Church Membership in the final quarter of the year for the year ahead. For 2022, the church agreed the following objectives –

EBC OBJECTIVES 2022: INVITE, ABIDE, ENVIRONMENT

ACHIEVEMENTS, PERFORMANCE AND CHARITABLE ACTIVITIES

The income and expenditure budget for the year reflected the desire to achieve our annual objectives, including various charitable and strategic goals. Towards the end of 2022 we assessed how we had done against our objectives and set out slightly revised objectives for 2023. A precis of the review is shown below –

EBC OBJECTIVES/REVIEW 2022: INVITE, ABIDE, ENVIRONMENT

  1. INVITE. We will continue to pursue a culture of frontline invitation and develop multiple fresh expressions of frontline outreach in-person and digitally.

What will success look like?

2. ABIDE. We will continue to work on personal discipleship, focussing this year on re-developing Life Groups/EB3’s, as well as continuing with our Next Steps area, Discovering EBC and other resources.

What will success look like? 

  - _Life Groups will be relaunched and resourced. Life Groups have been redefined but needs follow up with each group to see how groups are doing and how best to include new people._

  - _Next Steps hub will be continue to evolve and be used. Next Steps hub continually evolves with resources publicised online and in talks/services too._

  - _Discovering Courses will support discipleship. Discovering Membership courses, Prayer Courses and Prayer Ministry course have been run._

3. ENVIRONMENT. We will continue to enhance our physical and digital environments.

What will success look like?

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Easthampstead Baptist Church

Report of the Trustees for the year ended 31 December 2022

  1. GOOD NEWS. This vision, inspired by Jesus’s preaching on Isaiah (Luke chapter 4) and His teaching about the sheep and the goats (Matthew 25), will increasingly be realised in the way EBC people conduct their lives. We will increasingly become known as a church of good news.

What will success look like?

Other evidence – Arranging and funding Abs visit (and Abs’ testimony about this). FCH posted thanks for funding mattresses etc. after floods. Support for Sierra Leone projects is planned. Juba’s testimony from the USA. Support for Great Lakes Outreach (Burundi – Simon Guillebaud). Storehouse storage unit constructed onsite – Storehouse help for many people including refugees from overseas who emptied the unit!

Church Ministries

During 2022, we continued our Sunday services using a blended approach of online services (on YouTube) and in-person services as and when we were able to do so.

Mission Support

The church remains committed to supporting churches and other Christian organisations, both in the UK and overseas. Support is given in terms of finance and leadership support – in 2022 our Team Leader gave mentoring support to another local Christian who is studying for a formal qualification in Chaplaincy.

Sierra Leone

Our work with charities and our partner church in Sierra Leone continues and in 2022 we stayed in constant touch with our key contacts, offering financial support and pastoral encouragement as required.

FINANCIAL REVIEW

During the year ended 31 December 2022 the church had a total income of £287,478 (2021: £288,425). This total included: offerings and gifts - £141,003 (2021: £158,835); income tax recoverable - £27,787 (2021: £34,636); pastoral needs - £5,362 (2021: £8,281); other causes - £5,196 (2021: £1,440); miscellaneous donations - £5,893 (2021: £2,415); charitable activities £10,242 (2021: £2,883); church lettings - £86,725 (2021: £59,802); bank interest - £1,375 (2021: £246). Total Expenditure for the year was £281,792 (2021: £267,370). Of this total, significant costs were: ministry direct costs - £142,746 (2021: £155,137); missionary & charitable giving direct costs - £34,708 (2021: £17,876); support costs - £64,885 (2021: £56,991); governance costs - £4,860 (2021: £4,662).

RESERVES POLICIES

The Church aims to keep minimum reserves of approximately 10% of its annual expenditure. This is partly to cover any excess of expenditure over income, provision for cash flow fluctuations, and so that the Church may meet commitments under contract e.g. to employees, for a reasonable notice period, if it is unable to continue to function. At the year end, the charity held unrestricted reserves of £417,239 (2021: £396,026), designated reserves of £41,942 (2021: £48,952), and restricted reserves of £222,078 (2021: £230,514). The designated fund balance is held for ministry activities and works needed at the church. Of the restricted reserves balance, £204,116 (2021: £214,964) represents sums given since 1995 to fund the development of the Church premises, which was completed in 1997, and to pay off the money borrowed at that time to finance the development; £5,504 (2021: £5,504) is for the refurbishment of the toilets, £1,555 (2021: £6,076) is for costs relating to Storehouse, and £3,524 (2021: £2,594) is held for costs relating to a stair lift and other equipment at the Church.

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Easthampstead Baptist Church

Report of the Trustees for the year ended 31 December 2022

RESPONSIBILITIES OF THE TRUSTEES

The charity's Trustees are responsible for preparing the Trustees’ Annual Report and the Financial Statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England and Wales requires the charity Trustees to prepare financial statements for each year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, of the charity for that period. In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, and the applicable Charities (Accounts and Reports) Regulations. The Trustees are also responsible for safeguarding the assets of the charity and hence taking all reasonable steps for the prevention and detection of fraud and other irregularities.

COMPLIANCE WITH PREVAILING LAW AND REGULATIONS

The accounts (financial statements) have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011 and UK Generally Accepted Practice as it applies from 1 January 2015.

The accounts (financial statements) have been prepared to give a ‘true and fair’ view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a ‘true and fair view’. This departure has involved following Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.

BY ORDER OF THE TRUSTEES

SIGNED SECURELY 11/07/2023 at 9:29:21 AM UTC

.............................................

Mr R Lea

SIGNED SECURELY

Date:

11/07/2023 at 9:29:21 AM UTC

6

Independent Examiner’s Report to the Trustees of Easthampstead Baptist Church for the year ended 31 December 2022

Independent Examiner’s Report

Independent Examiner’s report to the Trustees of Easthampstead Baptist Church

I report on the accounts of the charity for the year ended 31 December 2022, which are set out on pages eight to nineteen.

Respective responsibilities of Trustees and Examiner

The charity’s Trustees are responsible for the preparation of the accounts. The charity’s Trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.

It is my responsibility to:

  1. examine the accounts under section 145 of the 2011 Act,

  2. to follow the procedures laid down in the general Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act, and

  3. to state whether particular matters have come to my attention.

Independent Examiner’s statement

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

  1. accounting records were not kept in respect of Easthampstead Baptist Church as required by section 120 of the 2011 act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair view which is not a matter considered as part of an independent examination.

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

L A Evans BSc FCA Stewart & Co. Accountants LLP Knoll House Knoll Road Camberley Surrey GU15 3SY

Date:

7

Easthampstead Baptist Church

Statement of Financial Activities for the year ended 31 December 2022

Statement of Financial Activities

Note
INCOME
Donations and legacies
2
Grant income
3
Income from charitable activities
4
Income from other trading activities
5
Investment income
6
TOTAL INCOME
EXPENDITURE
Expenditure on charitable activities:
7
Expenditure on other trading activities
11/12
TOTAL EXPENDITURE
NET EXPENDITURE AND NET
17
MOVEMENT IN FUNDS FOR THE YEAR
TRANSFERS BETWEEN FUNDS
RECONCILIATION OF FUNDS
Total Funds brought forward
TOTAL FUNDS CARRIED FORWARD		 Unrestricted
Designated
£
£
157,177
8,383
-
-
10,242
-
86,725
-
1,375
-
255,519
8,383
(199,794)
(15,393)
-
(34,593)
-
-
(234,387)
(15,393)
21,132
(7,010)
-
-
396,026
48,952
417,158
41,942		 Restricted
£
23,576
-
-
-
-
23,576
(32,012)
-
(32,012)
(8,436)
-
230,514
222,078		 2022
Total funds
189,136
-
10,242
86,725
1,375
287,478
(247,199)
(34,593)
(281,792)
5,686
-
675,492
681,178		 2021
Total funds
£
205,607
19,887
2,883
59,802
246
288,425
(234,666)
(32,704)
(267,370)
21,055
-
654,437
675,492

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

The notes on pages 10 to 18 form part of these financial statements

8

Easthampstead Baptist Church

Balance Sheet as at 31 December 2022

Balance Sheet

Note
FIXED ASSETS
Tangible assets
14
TOTAL FIXED ASSETS
CURRENT ASSETS
Debtors
15
Cash at bank and in hand
TOTAL CURRENT ASSETS
LIABILITIES
Creditors falling due within one year
16
NET CURRENT ASSETS/(LIABILITIES)
TOTAL ASSETS LESS CURRENT
LIABILITIES
NET ASSETS
THE FUNDS OF THE CHARITY
Unrestricted income funds
17
Designated income funds
17
Restricted income funds
17
TOTAL CHARITY FUNDS		 Unrestricted
£
350,827
350,827
29,112
42,079
71,191
(4,860)
66,331
417,158
417,158
417,158
-
-
417,158		 Designated
£
-
-
-
41,942
41,942
-
41,942
41,942
41,942
-
41,942
-
41,942		 Restricted
£
208,494
208,494
-
13,584
13,584
-
13,584
222,078
222,078
-
-
222,078
222,078
SIGNE
11/07/2		 2022
Total funds
559,321
559,321
29,112
97,605
126,717
(4,860)
121,857
681,178
681,178
417,158
41,942
222,078
681,178
D SECURELY
023 at 9:29:21 AM UTC		 2021
Total funds
£
569,690
569,690
7,177
126,987
134,164
(28,362)
105,802
675,492
675,492
396,026
48,952
230,514
675,492

The financial statements were approved and authorised for issue by the Board of Trustees on …………….. and were signed on its behalf by:

SIGNED SECURELY

11/07/2023 at 9:29:21 AM UTC

……………………………………… ………………………………………

The notes on pages 10 to 18 form part of these financial statements

9

Easthampstead Baptist Church

Notes to the Financial Statements for the year ended 31 December 2022

Notes to the Financial Statements

1. ACCOUNTING POLICIES

1.1 Basis of preparation

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2020) - (Charities SORP (FRS 102)), and the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.

The objectives of the charity are to advance the Christian Religion, relieve poverty, hardship and distress, and to advance education. The charity meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s).

The financial statements are prepared in sterling, which is the functional currency of the entity. The church is a registered charity in England and Wales. The Trustees are the members of the church named on page 1.

1.2 Preparation of the accounts on a going concern basis

The financial statements have been prepared on a going concern basis.

The trustees assess whether the use of going concern is appropriate i.e. whether there are any material uncertainties related to events or conditions that may cast significant doubt on the ability of the charity to continue as a going concern. The trustees make this assessment in respect of a period of one year from the date of approval of the financial statements.

1.3 Significant judgements and estimates

In the opinion of the Trustees, no significant judgements or estimates were made during the preparation of the financial statements that may have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year.

1.4 Income

Income recognition

Income is recognised in the Statement of Financial Activities (SoFA) when:

Offsetting

There has been no offsetting of assets and liabilities, or income and expenses.

Donations

Donations are only included in the SoFA when the general income recognition criteria are met.

Grants

Grants are recognised when the charity has an entitlement to the funds and any conditions linked to the grants have been met. Where performance conditions are attached to the grant and are yet to be met, the income is recognised as a liability and included on the balance sheet as deferred income to be released.

Tax reclaims on donations and gifts

Gift Aid receivable is included in income when there is a valid declaration from the donor. Any Gift Aid amount recovered on a donation is considered to be part of that gift and is treated as an addition to the same fund as the initial donation unless the donor or the terms of the appeal have specified otherwise.

Volunteer help

The value of any voluntary help received is not included in the accounts but is described in the Trustees’ annual report.

Income from interest

This is included in the accounts when receipt is probable, and the amount receivable can be measured reliably. Income from membership subscriptions

Membership subscriptions received in the nature of a gift are recognised in Donations and Legacies.

10

Easthampstead Baptist Church

Notes to the Financial Statements for the year ended 31 December 2022

1. ACCOUNTING POLICIES ( continued )

1.5 Expenditure and liabilities

Expenditure

Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category.

Liability recognition

Liabilities are recognised where it is more likely than not that there is a legal or constructive obligation committing the charity to pay out resources and the amount of the obligation can be measured with reasonable certainty.

Governance and support costs

Support and governance costs incurred are apportioned across the charitable activities based on the time support staff spend working on each one. Governance costs comprise all costs involving public accountability of the charity and its compliance with regulation and good practice.

Creditors

The charity has creditors which are measured at settlement amounts less any trade discounts.

Basic financial instruments

The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value. Financial assets held at amortised cost comprise cash at bank and in hand, together with other debtors. Cash at bank and in hand is defined as all cash held in instant access bank accounts and used as working capital. Financial liabilities held at amortised cost comprise all creditors except social security and other taxes.

1.6 Tangible fixed assets

All assets costing more than £1,000 are capitalised and valued at historical cost.

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. Buildings - 2% and 1% on cost Fittings and equipment - 10% on cost

1.7 Taxation

The charity is a registered charity and is exempt under Part 11 of the Corporation Tax Act 2010 on its income and section 256 of the Taxation of Chargeable Gains Act 1992 on its capital gains.

Irrecoverable VAT is charged against the expenditure heading for which it was incurred.

1.8 Operating leases

Rentals payable under operating leases are charged against income on a straight line basis over the lease term.

1.9 Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the Trustees. Designated funds represent funds earmarked for specific reasons as decided by the Trustees. Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

1.10 Cash at bank and in hand

Cash at bank and cash in hand includes cash and short term highly liquid investments with a maturity of one year from the date of acquisition or opening of the deposit or similar account.

1.11 Creditors

Creditors are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors are normally recognised at their settlement amount after allowing for any trade discounts due.

1.12 Pension costs

The charity operates a defined contribution pension scheme. Contributions payable for the year are charged to the SoFA in the period to which they relate.

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2.

DONATIONS AND LEGACIES
Unrestricted
Designated
Funds
Funds
£
£
Offerings and gifts
128,063
6,940
Income tax recoverable
25,486
1,443
Pastoral Need Fund donations/Storehouse
-
-
Tear Fund
635
-
Samaritans Purse
-
-
Sierra Leone trip
-
-
Homestart
-
-
General Mission Support
100
-
Miscellaneous donations, gifts & sundries
2,893
-
157,177
8,383		 Restricted
Funds
£
6,000
858
5,362
-
528
4,033
-
3,795
3,000
23,576		 Total funds
2022
£
141,003
27,787
5,362
635
528
4,033
-
3,895
5,893
189,136		 Total funds
2021
£
158,835
34,636
8,281
252
-
111
1,077
2,415
205,607
In 2021, £9,900 of donation income related to restricted funds and £33,859 to designated funds.
3.
INCOME FROM GRANTS
Unrestricted
Total Funds
Funds
2022
£
£
Government grants
-
-
-
-
Income from government grants was in respect of the Coronavirus Job Retention Scheme.
4.
INCOME FROM CHARITABLE ACTIVITIES
Unrestricted
Total funds
Funds
2022
£
£
Catering
5,781
5,781
Children and youth
1,170
1,170
Storehouse sale of goods
-
-
Older persons work
3,291
3,291
10,242
10,242
In 2021, no income from charitable activities related to restricted funds.
5.
INCOME FROM OTHER TRADING ACTIVITIES
Unrestricted
Total Funds
Funds
2022
£
£
Church lettings
86,725
86,725
86,725
86,725
In 2021 all income from other trading activities related to unrestricted funds.
6.
INVESTMENT INCOME
Unrestricted
Total Funds
Funds
2022
£
£
Bank Interest
1,375
1,375
1,375
1,375		 Total Funds
2021
£
19,887		 Total Funds
2021
£
19,887
19,887
Total funds
2021
£
1,224
344
25
1,290
2,883
Total Funds
2021
£
59,802
59,802
Total Funds
2021
£
246
246
246

In 2021 all of the investment income related to unrestricted funds.

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7. EXPENDITURE ON CHARITABLE ACTIVITIES

BY FUND

EXPENDITURE ON CHARITABLE ACTIVITIES
BY FUND
Unrestricted
Funds
£
Missionary and charitable giving
8
24,778
Ministry
9
175,016
199,794		 Designated
Funds
£
-
15,393
15,393		 Restricted
Funds
£
10,853
21,159
32,012		 Total funds
2022
£
35,631
211,568
247,199		 Total funds
2021
£
18,762
215,904
234,666

In 2021, £16,439 of the total expenditure on charitable activities related to restricted funds and £17,051 related to designated.

BY ACTIVITY

BY ACTIVITY
Missionary and charitable giving
8
Ministry
9		 Activities
Undertaken
Directly
£
34,708
142,746
177,454		 Support
Costs
£
923
68,822
69,745		 Total funds
2022
£
35,631
211,568
247,199		 Total funds
2021
£
18,762
215,904
234,666

Included in the expenditure analysed above, there are also governance costs of £4,860 (2021: £4,662) which relate directly to charitable activities. See note 10 for further details.

8. ANALYSIS OF DIRECT EXPENDITURE ON MISSIONARY AND CHARITABLE GIVING

Unrestricted Restricted Total Funds Total Funds
Funds Funds 2022 2021
£ £ £ £
BU Home Mission 2,500 - 2,500 2,500
Tear Fund - general 1,200 - 1,200 1,200
Samaritan’s Purse – Xmas shoeboxes 543 528 1,071 470
Dorothy – Springer Trust 6,624 1,376 8,000 7,500
Storehouse - 1,121 1,121 411
Mission support – general 6,072 - 6,072 3,782
Mission support – Sierra Leone 5,923 4,033 9,956 -
Others 993 3,795 4,788 2,013
23,855 10,853 34,708 17,876

13

9. ANALYSIS OF EXPENDITURE ON MINISTRY ACTIVITIES UNDERTAKEN DIRECTLY

Unrestricted Unrestricted Designated Designated Restricted Total funds Total funds
Funds Funds Funds 2022 2021
£ £ £ £ £
Trustees’ remuneration 69,068 - - 69,068 67,691
Trustees’ pension costs (17,667) - - (17,667) 1,893
Wages and salaries 25,578 - - 25,578 31,325
Social security costs 5,073 - - 5,073 2,651
Pension costs 897 - - 897 1,319
Travel costs 262 - - 262 31
Conferences and training 827 - - 827 5,306
Evangelism & publicity 4,123 - - 4,123 2,446
Affiliation fees & worship costs 1,981 - - 1,981 1,554
Catering 4,449 - - 4,449 1,114
Youth & Children 2,021 - - 2,021 1,364
Older Person’s work 1,961 - - 1,961 913
Depreciation 1,290 - 11,526 12,816 12,595
Storehouse - - 9,620 9,620 4,459
TV Licence 159 - - 159 158
Replacement equipment 1,974 - - 1,974 1,178
Sundries 1,576 - 13 1,589 4,290
Ministry materials 192 - - 192 35
Ministry unto Church 1,537 - - 1,537 1,585
Hall hire 893 - - 893 1,012
Gift Day – 2020 - - - - 2,218
Gift Day – 2021 - 15,393 - 15,393 10,000
106,194 15,393 21,159 142,746 155,137
10. ANALYSIS OF SUPPORT COSTS
BY FUND
Unrestricted Total Funds Total Funds
Funds 2022 2021
£ £ £
Support Costs
Heat, light, power and water 5,137 5,137 4,358
Insurance and maintenance 15,452 15,452 10,412
Cleaning 10,686 10,686 6,315
Website costs 1,031 1,031 1,045
Office & Administration costs 11,215 11,215 12,524
HR Consultancy 141 141 1,729
Wages & Salaries – Caretaker 19,873 19,873 19,589
Social security costs 944 944 494
Pension costs 406 406 525
64,885 64,885 56,991
Governance costs
Independent examiner’s fee 4,860 4,860 4,662
4,860 4,860 4,662
69,745 69,745 61,653

14

10. ANALYSIS OF SUPPORT COSTS (continued) BY ACTIVITY

Missionary
& Charitable Total FundsTotal Funds
Giving Ministry 2022 2021
£ £ £ £
Support Costs
Heat, light, power and water - 5,137 5,137 4,358
Insurance and maintenance - 15,452 15,452 10,412
Cleaning - 10,686 10,686 6,315
Website costs - 1,031 1,031 1,045
Office & Administration costs - 11,215 11,215 12,524
HR Consultancy - 141 141 1,729
Wages & Salaries – Caretaker - 19,873 19,873 19,589
Social security costs - 944 944 494
Pension costs - 406 406 525
- 64,885 64,885 56,991
Governance costs
Independent examiner’s fee 923 3,937 4,860 4,662
923 3,937 4,860 4,662
923 68,822 69,745 61,653
11. EXPENDITURE ON OTHER TRADING ACTIVITES Unrestricted
Total FundsTotal Funds
Funds 2022 2021
£ £ £
Salaries 27,915 27,915 27,136
Social security costs 1,613 1,613 828
Pension costs 635 635 752
Heat, light, power and water 3,293 3,293 2,791
Consumables & other 1,137 1,137 1,197
34,593 34,593 32,704
12. NET EXPENDITURE FOR THE YEAR
This is stated after charging: 2022 2021
£ £
Trustees’ remuneration 68,368 67,691
Trustees’ pension costs (defined contribution scheme) (17,667) 1,893
Depreciation 12,831 12,595
Independent examiner’s remuneration: 4,860 4,662
13. ANALYSIS OF STAFF COSTS, TRUSTEE REMUNERATION AND EXPENSES, AND THE COST OF
KEY MANAGEMENT PERSONNEL
Total staff costs were as follows 2022 2021
£ £
Wages and salaries 141,145) 145,740
Social security costs 7,630) 3,973
Pension costs (defined contribution scheme) (15,729) 4,489
(15,729)) 154,202
Particulars of employees:
The average number of employees during the year was as follows: 2022 2021
No No
Ministry 5 5
Upkeep of Church Premises 1 1
6 6

No employees received employee benefits (excluding employer pension costs) in excess of £60,000 (2021: none).

15

Key management personnel and trustee remuneration

Total employment benefits including employer pension contributions of the key management personnel was £50701 (2021: £69,584).

The Team Leader and Trustee, Mr S. Lace, received £38,944 (2021: £38,558) and the Ministry Director and Trustee, Mrs P Marsh received £29,425 (2021: £29,133)

In previous years the Church paid pension contributions for its Assistant Minister under a defined contribution scheme. The total pension contribution from the Church for the Assistant Minister was £nil (2021: £625). The total pension contribution from the Church for the Senior Minister was £2,856 (2021: £4,435).

No pension contributions were outstanding at the balance sheet date.

Trustees’ expenses

During the year, no Trustees were reimbursed expenses incurred in fulfilling their duties (2021: £nil).

Fixtures,
14.
TANGIBLE FIXED ASSETS
Church
fittings and
Premises
equipment
£
£
COST
As at 1 January 2022
761,720
96,110
Additions
-
2,462
As at 31 December 2022
761,720
98,572
DEPRECIATION
As at 1 January 2022
198,757
89,383
Depreciation eliminated on disposal
-
-
Charge for the year
10,848
1,983
As at 31 December 2022
209,605
91,366
NET BOOK VALUE
As at 1 January 2022
562,963
6,727
As at 31 December 2022
552,115
7,206
15.
DEBTORS
2022
£
Income tax recoverable
2,295
Prepayments
3,625
Other debtors
23,192
29,112
16.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022
£
Other creditors
-
Defined contribution pension liability
-
Accruals
4,860
4,860		 Total
£
857,830
2,462
860,292
288,140
-
12,831
300,971
569,690
559,321
2021
£
2,239
-
4,938
7,177
2021
£
1,500
22,200
4,662
28,362

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17. ANALYSIS OF MOVEMENT IN FUNDS

NALYSIS OF MOVEMENT IN FUNDS
Balance
1 Jan 2022
£
Unrestricted funds
General fund
396,026
396,026
Restricted funds
Church Building Fund
214,964
Other donations
2,594
Sierra Leone
-
External Causes
-
Storehouse
6,076
Toilets
5,504
Berkshire Christian Network
-
Future Missions Fund
1,376
Designated funds
230,514
Gift Day 2016
17,218
Gift Day 2020
7,875
Gift Day 2021
23,859
Gift Day 2022
-
48,952
TOTAL FUNDS
675,492		 Incoming
resources
£
255,519
255,519
-
6,000
4,033
4,323
6,220
-
3,000
-
23,576
-
-
8,383
8,383
287,478		 Resources
expended
£
(234,387)
(234,387)
(10,848)
(691)
(4,033)
(4,323)
(10,741)
-
-
(1,376)
(32,012)
-
-
(15,393)
(15,393)
(281,792)		 Transfers
Funds
31 Dec 2022
£
£
-
417,158
-
417,158
-
204,116
-
7,903
-
-
-
-
1,555
-
5,504
3,000
-
-
-
222,078
-
17,218
-
7,875
-
8,466
8,383
-
41,942
-
681,178
417,158
204,116
7,903
-
-
1,555
5,504
3,000
-
222,078
17,218
7,875
8,466
8,383
41,942
681,178

Unrestricted funds

Unrestricted funds are available to be spent for any of the purposes of the charity.

Restricted Funds

The Church Building Fund represents sums given since 1995 to fund the development of the Church premises, which was completed in 1997, and to pay off the money borrowed at that time to finance the development. The other small restricted fund balances are held for the purpose of that described in the headings.

Designated funds

These funds relate to monies raised during the annual Gift Day’s which are then set aside for specific purposes depending on the yearly requirements.

The funds from Gift Day 2016 are held for ministry activities e.g. older persons work, children and youth work. The funds from Gift Day 2020 and 2021 are held for works needed at the church.

The funds from Gift Day 2022 are held for solar panel batteries for the Dorothy Springer Trust and to support 3 children with SEN in Sierra Leone. After the year end £2,500 of these funds were lost in transit but it is anticipated that a further donation will be received to cover this loss.

18. ANALYSIS OF NET ASSETS BETWEEN FUNDS
NALYSIS OF NET ASSETS BETWEEN FUNDS
Tangible
fixed assets
£
Unrestricted funds
350,827
Designated funds
-
Restricted funds
208,494
559,321		 Net current
assets/
(liabilities)
£
66,331
41,942
13,584
121,857		 Total
£
417,158
41,942
222,078
681,178

19. RELATED CHARITIES

The custodian Trustee of the Church is the Baptist Union Corporation Limited (charity number 249635), which is controlled by the Baptist Union Council. The Church is also a member of the Baptist Union of Great Britain, and the Southern Counties Regional Baptist Association.

The Church made donations to the Baptist Union Home Mission Scheme as set out in note 7.

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20. DEFINED BENEFIT PENSION

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 in the event that 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 plc. [Members of the Basic Section pay reduced contributions of 5% of Pensionable Income, and their employers also pay a total of 5%.] The further 4% contribution rate is reduced to 3% for Employer contributions made to the Segregated DC Arrangement.

The Scheme is considered to be a multi-employer scheme as described in Section 28 of FRS 102. Because it is not possible to attribute the Scheme’s assets and liabilities to specific employers, the scheme is accounted for as if the Scheme were a defined contribution scheme. The Minister(s) 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 was carried out 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 key financial assumptions underlying the valuation were as follows:

Type of Assumption %
pa
RPI price inflation assumption 3.20
CPI price inflation assumption 2.70
Minimum Pensionable Income increases (CPI plus 1.0% pa) 0.50
Assumed investment returns
- Pre-retirement (gilt yield plus 1.75% pa) 2.95
- Post retirement (including benefits matched by the insurance policy) 1.70
(gilt yield plus 0.5% pa)
Deferred pension increases
- Pre April 2009 3.20
- Post April 2009 2.50
Pension increases
- Based on CPI with an annual floor of 0% and annual cap of 5% 2.70

Mortality is assumed in accordance with 80% of the S3NA standard mortality table. Future improvements projected from 2013 in line with the “CMI 2019” projection with a long-term rate of improvement of 1.75% p.a. for males and 1.5% p.a. for females with the core smoothing parameter and with additional initial mortality improvement factor A=0.5%.

The next actuarial valuation of the DB Plan within the Scheme is due to take place not later than as at 31 December 2022.

18

20. DEFINED BENEFIT PENSION (continued)

Recovery Plan

In addition to the contributions to the DC Plan set out above, where a valuation of the DB Plan reveals a deficit the Trustee and the Council agree to a rate of deficiency contributions from churches and other employers involved in the DB Plan.

Under the current Recovery Plan signed in September 2020, deficiency contributions are payable until June 2026. These contributions are broadly based on the employer's membership at 31 December 2014 and increase annually in line with increases to Minimum Pensionable Income as defined in the Rules.

Movement in Balance Sheet liability

Section 28.11A of FRS 102 requires agreed deficit recovery payments to be recognised as a liability. The movement in the provision is set out in the table below.

Accounting date (year ending): 31 Dec 2022 31 Dec 2021
£ £
Balance sheet liability at year start 22,200 27,571
Minus deficiency contributions paid (2,856) (4,733)
Interest cost (recognised in SoFA) 416 101
Remaining change to balance sheet liability* (recognised in SoFA) (19,760) (739)
Balance sheet liability at year end - 22,200

This liability represents the present value of the deficit contributions agreed as at the accounting date and has been valued using the following assumptions set by reference to the duration of the deficit recovery payments:

Accounting date 31 Dec 2022 31 Dec 2021 31 Dec 2020
Discount rate 5.7% 2.0% 0.4%
Future increases to Minimum Pensionable Income 3.3% 3.0% 3.2%

19