**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 

1 



**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. 

2 



**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: 

- **Loss of premises and facilities** ; this is addressed by comprehensive insurance cover for its buildings, contents and liabilities. 

- **Financial risk;** this is addressed by regular monitoring of income and expenditure, the requirement for a second signatory on cheques over £1000, and through approval and support of the budget by the membership. 

- **Availability of people** to undertake tasks and to lead activities within the Church. This is addressed through a program of teaching, encouragement, and courses to help people identify, develop and apply their gifts. 

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. 

3 



**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?_ 

   - _Relationship with/learnings from LICC on frontline discipleship will be pursued. We have continued with ‘This Time Tomorrow’ interviews and planned to revisit the 2020 ‘Four Tables” series we ran in 2020._ 

   - _Additional social events to encourage invitation and friendship. To include a celebration of 60 years of a church building on this site! 60[th] EBC Anniversary weekend including service and Funday Sunday. African Party. Holiday at Home. Soup & Sandwich Jubilee celebrations. ‘Souper Sundays’ and ‘Bacon Butty Club’ launched. Big Quiz. Saltmine. Christingle. Turkey & Tinsel._ 

   - _Stories will be celebrated about personal examples of frontline outreach (TTT interviews and ad hoc). We have sought and shared Good News stories and incorporated a number of these into our special Gift Day service)._ 

   - _New people will be invited… New people will come! Yes, they have, but tracking of numbers has slipped and will be better next year._ 

   - _Personal invitation and outreach will become recognised as a central part of our church DNA. We will take a straw poll regarding personal invitation at the church meeting._ 

_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._ 

- _People will report that their faith is deepening. A straw poll will be taken at the church meeting on this._ 

- _Other evidence – Simon Guillebaud invited to speak on discipleship (“Choose Life!”) and relationship with Simon G continues through Simon L. Prayer room opened. Discovering Membership booklets disappearing!_ 

   _3._ ENVIRONMENT.  We will continue to enhance our physical and digital environments. 

_What will success look like?_ 

- _The look and feel of our church building and gardens will continue to be enhanced as we complete our 2021 ‘wish list’ projects. Roof cleaned and repaired, porch roof repaired, church exterior painted, plans in progress to finish gents’ loo and install garden path. Garden Room opened, main hall cupboard and Room 1 ceilings replaced/repaired. Storehouse unit installed._ 

- _The church as a whole will become more eco-friendly – not only at our EBC building but in our lives away from it. Rev. Dave Gregory preached on caring for the planet. More to be done on this._ 

- _Our digital environment will be recognised as our virtual “front door” and be more inviting/exciting. Social media and website continue to evolve. Live stream added, with plans to enhance this with new tech._ 

4 



**Easthampstead Baptist Church** 

## **Report of the Trustees for the year ended 31 December 2022** 

4. 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?_ 

- _Tangible stories about how we have impacted people locally and globally. Many stories shared (Storehouse, Ukraine, BWA, Sierra Leone etc.)_ 

- _EBC is known across other churches and local agencies as a people of good news. Referrals and ‘ad hoc’ enquiries show that we are being referred and EBC is well regarded._ 

_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!_ 

- We reminded the church membership of our purpose, mission, vision, values and method. 

- SHR building refurbishment continued with extensive work to our roof. 

- Our Team Leader continued formal training as a Baptist Minister at Regent’s Park College, Oxford, in 2022, completing his third year of five. 

- Local and International ministries work continued, and we managed our finances to budget 

- We continued to focus on discipling and prayer. 

- We set new objectives and budget for 2023 that reflect our mission and vision for the future. 

## **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. 

5 



## **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: 

- select suitable accounting policies and then apply them consistently; 

- observe the methods and principles in the Charities SORP; 

- make judgements and estimates that are reasonable and prudent; 

- state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and 

- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation. 

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**<br>**INCOME**<br>Donations and legacies<br>**2**<br>Grant income<br>**3**<br>Income from charitable activities<br>**4**<br>Income from other trading activities<br>**5**<br>Investment income<br>**6**<br>**TOTAL INCOME**<br>**EXPENDITURE**<br>Expenditure on charitable activities:<br>**7**<br>Expenditure on other trading activities<br>**11/12**<br>**TOTAL EXPENDITURE**<br>**NET EXPENDITURE AND NET**<br>**17**<br>**MOVEMENT IN FUNDS FOR THE YEAR**<br>**TRANSFERS BETWEEN FUNDS**<br>**RECONCILIATION OF FUNDS**<br>Total Funds brought forward<br>**TOTAL FUNDS CARRIED FORWARD**|**Unrestricted**<br>**Designated**<br>**£**<br>**£**<br>**157,177**<br>**8,383**<br>**-**<br>**-**<br>**10,242**<br>**-**<br>**86,725**<br>**-**<br>**1,375**<br>**-**<br>**255,519**<br>**8,383**<br>**(199,794)**<br>**(15,393)**<br>**-**<br>**(34,593)**<br>**-**<br>**-**<br>**(234,387)**<br>**(15,393)**<br>**21,132**<br>**(7,010)**<br>**-**<br>**-**<br>**396,026**<br>**48,952**<br>**417,158**<br>**41,942**|**Restricted**<br>**£**<br>**23,576**<br>**-**<br>**-**<br>**-**<br>**-**<br>**23,576**<br>**(32,012)**<br>**-**<br>**(32,012)**<br>**(8,436)**<br>**-**<br>**230,514**<br>**222,078**|**2022**<br>**Total funds**<br>**189,136**<br>**-**<br>**10,242**<br>**86,725**<br>**1,375**<br>**287,478**<br>**(247,199)**<br>**(34,593)**<br>**(281,792)**<br>**5,686**<br>**-**<br>**675,492**<br>**681,178**|2021<br>Total funds<br>£<br>205,607<br>19,887<br>2,883<br>59,802<br>246|
|---|---|---|---|---|
|||||288,425|
|||||(234,666)<br>(32,704)|
|||||(267,370)|
|||||21,055<br>-<br>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**<br>**FIXED ASSETS**<br>Tangible assets<br>**14**<br>**TOTAL FIXED ASSETS**<br>**CURRENT ASSETS**<br>Debtors<br>**15**<br>Cash at bank and in hand<br>**TOTAL CURRENT ASSETS**<br>**LIABILITIES**<br>Creditors falling due within one year<br>**16**<br>**NET CURRENT ASSETS/(LIABILITIES)**<br>**TOTAL ASSETS LESS CURRENT**<br>**LIABILITIES**<br>**NET ASSETS**<br>**THE FUNDS OF THE CHARITY**<br>Unrestricted income funds<br>**17**<br>Designated income funds<br>**17**<br>Restricted income funds<br>**17**<br>**TOTAL CHARITY FUNDS**|**Unrestricted**<br>**£**<br>**350,827**<br>**350,827**<br>**29,112**<br>**42,079**<br>**71,191**<br>**(4,860)**<br>**66,331**<br>**417,158**<br>**417,158**<br>**417,158**<br>**-**<br>**-**<br>**417,158**|**Designated**<br>**£**<br>**-**<br>**-**<br>**-**<br>**41,942**<br>**41,942**<br>**-**<br>**41,942**<br>**41,942**<br>**41,942**<br>**-**<br>**41,942**<br>**-**<br>**41,942**|**Restricted**<br>**£**<br>**208,494**<br>**208,494**<br>**-**<br>**13,584**<br>**13,584**<br>**-**<br>**13,584**<br>**222,078**<br>**222,078**<br>**-**<br>**-**<br>**222,078**<br>**222,078**<br>**SIGNE**<br>**11/07/2**|**2022**<br>**Total funds**<br>**559,321**<br>**559,321**<br>**29,112**<br>**97,605**<br>**126,717**<br>**(4,860)**<br>**121,857**<br>**681,178**<br>**681,178**<br>**417,158**<br>**41,942**<br>**222,078**<br>**681,178**<br>**D SECURELY**<br>**023 at 9:29:21 AM UTC**|2021<br>Total funds<br>£<br>569,690|
|---|---|---|---|---|---|
||||||569,690<br>7,177<br>126,987|
||||||134,164<br>(28,362)|
||||||105,802<br>675,492|
||||||675,492<br>396,026<br>48,952<br>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: 

- the charity becomes entitled to the resources; 

- it is more likely than not that the Trustees will receive the resources; and 

- the monetary value can be measured with sufficient reliability. 

## **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. 

11 



## **2.** 

|**DONATIONS AND LEGACIES**<br>**Unrestricted**<br>**Designated**<br>**Funds**<br>**Funds**<br>**£**<br>**£**<br>Offerings and gifts<br>**128,063**<br>**6,940**<br>Income tax recoverable<br>**25,486**<br>**1,443**<br>Pastoral Need Fund donations/Storehouse<br>**-**<br>**-**<br>Tear Fund<br>**635**<br>**-**<br>Samaritans Purse<br>**-**<br>**-**<br>Sierra Leone trip<br>**-**<br>**-**<br>Homestart<br>**-**<br>**-**<br>General Mission Support<br>**100**<br>**-**<br>Miscellaneous donations, gifts & sundries<br>**2,893**<br>**-**<br>**157,177**<br>**8,383**|**Restricted**<br>**Funds**<br>**£**<br>**6,000**<br>**858**<br>**5,362**<br>**-**<br>**528**<br>**4,033**<br>**-**<br>**3,795**<br>**3,000**<br>**23,576**|**Total funds**<br>**2022**<br>**£**<br>**141,003**<br>**27,787**<br>**5,362**<br>**635**<br>**528**<br>**4,033**<br>**-**<br>**3,895**<br>**5,893**<br>**189,136**|Total funds<br>2021<br>£<br>158,835<br>34,636<br>8,281<br>252<br>-<br>111<br>1,077<br>2,415|
|---|---|---|---|
||||205,607|



|In 2021, £9,900 of donation income related to restricted funds and £33,859 to designated funds.<br>**3.**<br>**INCOME FROM GRANTS**<br>**Unrestricted**<br>**Total Funds** <br>**Funds**<br>**2022**<br>**£**<br>**£**<br>Government grants<br>**-**<br>-<br>-<br>-<br>Income from government grants was in respect of the Coronavirus Job Retention Scheme.<br>**4.**<br>**INCOME FROM CHARITABLE ACTIVITIES**<br>**Unrestricted**<br>**Total funds**<br>**Funds**<br>**2022**<br>**£**<br>**£**<br>Catering<br>**5,781**<br>**5,781**<br>Children and youth<br>**1,170**<br>**1,170**<br>Storehouse sale of goods<br>**-**<br>**-**<br>Older persons work<br>**3,291**<br>**3,291**<br>**10,242**<br>**10,242**<br>In 2021, no income from charitable activities related to restricted funds.<br>**5.**<br>**INCOME FROM OTHER TRADING ACTIVITIES**<br>**Unrestricted**<br>**Total Funds** <br>**Funds**<br>**2022**<br>**£**<br>**£**<br>Church lettings<br>**86,725**<br>**86,725**<br>**86,725**<br>**86,725**<br>In 2021 all income from other trading activities related to unrestricted funds.<br>**6.**<br>**INVESTMENT INCOME**<br>**Unrestricted**<br>**Total Funds** <br>**Funds**<br>**2022**<br>**£**<br>**£**<br>Bank Interest<br>**1,375**<br>**1,375**<br>**1,375**<br>**1,375**|Total Funds<br>2021<br>£<br>19,887|Total Funds<br>2021<br>£<br>19,887|
|---|---|---|
||19,887||
||Total funds<br>2021<br>£<br>1,224<br>344<br>25<br>1,290||
||2,883||
||Total Funds<br>2021<br>£<br>59,802||
||59,802||
||Total Funds<br>2021<br>£<br>246<br>246||
|||246|



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

12 



## **7. EXPENDITURE ON CHARITABLE ACTIVITIES** 

## _**BY FUND**_ 

|**EXPENDITURE ON CHARITABLE ACTIVITIES**<br>**_BY FUND_**|||||
|---|---|---|---|---|
|**Unrestricted**<br>**Funds**<br>**£**<br>Missionary and charitable giving<br>**8**<br>**24,778**<br>Ministry<br>**9**<br>**175,016**<br>**199,794**|**Designated**<br>**Funds**<br>**£**<br>**-**<br>**15,393**<br>**15,393**|**Restricted**<br>**Funds**<br>**£**<br>**10,853**<br>**21,159**<br>**32,012**|**Total funds**<br>**2022**<br>**£**<br>**35,631**<br>**211,568**<br>**247,199**|Total funds<br>2021<br>£<br>18,762<br>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<br>**8**<br>Ministry<br>**9**|**Activities**<br>**Undertaken**<br>**Directly**<br>**£**<br>**34,708**<br>**142,746**<br>**177,454**|**Support**<br>**Costs**<br>**£**<br>**923**<br>**68,822**<br>**69,745**|**Total funds**<br>**2022**<br>**£**<br>**35,631**<br>**211,568**<br>**247,199**|Total funds<br>2021<br>£<br>18,762<br>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 Funds**Total 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**|<br>**Total Funds**Total 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,**<br>**14.**<br>**TANGIBLE FIXED ASSETS**<br>**Church**<br>**fittings and**<br>**Premises**<br>**equipment**<br>**£**<br>**£**<br>**COST**<br>As at 1 January 2022<br>761,720<br>96,110<br>Additions<br>**-**<br>2,462<br>**As at 31 December 2022**<br>**761,720**<br>**98,572**<br>**DEPRECIATION**<br>As at 1 January 2022<br>198,757<br>89,383<br>Depreciation eliminated on disposal<br>-<br>-<br>Charge for the year<br>10,848<br>1,983<br>**As at 31 December 2022**<br>**209,605**<br>**91,366**<br>**NET BOOK VALUE**<br>As at 1 January 2022<br>562,963<br>6,727<br>**As at 31 December 2022**<br>**552,115**<br>**7,206**<br>**15.**<br>**DEBTORS**<br>**2022**<br>**£**<br>Income tax recoverable<br>**2,295**<br>Prepayments<br>**3,625**<br>Other debtors<br>**23,192**<br>**29,112**<br>**16.**<br>**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**<br>**2022**<br>**£**<br>Other creditors<br>**-**<br>Defined contribution pension liability<br>**-**<br>Accruals<br>**4,860**<br>**4,860**||**Total**<br>**£**<br>857,830<br>2,462|
|---|---|---|
|||**860,292**|
|||288,140<br>-<br>12,831|
|||**300,971**|
|||569,690|
|||**559,321**|
|||2021<br>£<br>2,239<br>-<br>4,938|
|||7,177|
|||2021<br>£<br>1,500<br>22,200<br>4,662|
|||28,362|



16 



## **17. ANALYSIS OF MOVEMENT IN FUNDS** 

|**NALYSIS OF MOVEMENT IN FUNDS**|||||
|---|---|---|---|---|
|**Balance**<br>**1 Jan 2022**<br>**£**<br>**Unrestricted funds**<br>General fund<br>**396,026**<br>**396,026**<br>**Restricted funds**<br>Church Building Fund<br>**214,964**<br>Other donations<br>**2,594**<br>Sierra Leone<br>**-**<br>External Causes<br>**-**<br>Storehouse<br>**6,076**<br>Toilets<br>**5,504**<br>Berkshire Christian Network<br>**-**<br>Future Missions Fund<br>**1,376**<br>**Designated funds**<br>**230,514**<br>Gift Day 2016<br>**17,218**<br>Gift Day 2020<br>**7,875**<br>Gift Day 2021<br>**23,859**<br>Gift Day 2022<br>**-**<br>**48,952**<br>**TOTAL FUNDS**<br>**675,492**|**Incoming**<br>**resources**<br>**£**<br>**255,519**<br>**255,519**<br>**-**<br>**6,000**<br>**4,033**<br>**4,323**<br>**6,220**<br>**-**<br>**3,000**<br>**-**<br>**23,576**<br>**-**<br>**-**<br>**8,383**<br>**8,383**<br>**287,478**|**Resources**<br>**expended**<br>**£**<br>**(234,387)**<br>**(234,387)**<br>**(10,848)**<br>**(691)**<br>**(4,033)**<br>**(4,323)**<br>**(10,741)**<br>**-**<br>**-**<br>**(1,376)**<br>**(32,012)**<br>**-**<br>**-**<br>**(15,393)**<br>**(15,393)**<br>**(281,792)**|**Transfers**<br>**Funds**<br>**31 Dec 2022**<br>**£**<br>**£**<br>**-**<br>**417,158**<br>**-**<br>**417,158**<br>**-**<br>**204,116**<br>**-**<br>**7,903**<br>**-**<br>**-**<br>**-**<br>**-**<br>**1,555**<br>**-**<br>**5,504**<br>**3,000**<br>**-**<br>**-**<br>**-**<br>**222,078**<br>**-**<br>**17,218**<br>**-**<br>**7,875**<br>**-**<br>**8,466**<br>**8,383**<br>**-**<br>**41,942**<br>**-**<br>**681,178**||
|||||**417,158**<br>**204,116**<br>**7,903**<br>**-**<br>**-**<br>**1,555**<br>**5,504**<br>**3,000**<br>**-**|
|||||**222,078**<br>**17,218**<br>**7,875**<br>**8,466**<br>**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**<br>**Tangible**<br>**fixed assets**<br>**£**<br>Unrestricted funds<br>**350,827**<br>Designated funds<br>**-**<br>Restricted funds<br>**208,494**<br>**559,321**|**Net current**<br>**assets/**<br>**(liabilities)**<br>**£**<br>**66,331**<br>**41,942**<br>**13,584**<br>**121,857**|**Total**<br>**£**<br>**417,158**<br>**41,942**<br>**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. 

17 



## **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. 

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## **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|



* Comprises any change in agreed deficit recovery plan and change in assumptions between year-ends. 

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%|



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