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2023-12-31-accounts

Company registration number: 1129467 Charity registration number: 1129467

(A company limited by share capital) Annual Report and Financial Statements for the Year Ended 31 December 2023

Stewart & Co Accountants LLP Knoll House Knoll Road Camberley Surrey GU15 3SY

Easthampstead Baptist Church

Contents

Trustees's Report 1 to 7
Independent Examiner's Report 8
Statement of Financial Activities 9 to 10
Balance Sheet 11
Notes to the Financial Statements 12 to 26

Easthampstead Baptist Church

Trustees's Report

The trustee, a director for the purposes of company law, presents the annual report together with the financial statements of the charitable company for the year ended 31 December 2023.

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 Easthampstead Baptist Church
Charity Registration Number 1129467
Principal Office South Hill Road
Easthampstead
Bracknell
Berkshire
RG12 7NS
Names of the charity Trustees who Mr S Lace, Team Leader
manage the charity Ms P Marsh, Ministry Director
Mr O Fawole, Church Secretary
Mr R Lea, Treasurer
Mr P Roe
Mr P Jones
Mrs J Darby Shearing
Ms J Castelow-Sturges
Mr E T Chamanga
Mr A Ajayi-Obe
Bankers The Co-operative Bank PLC
P.O. Box 250
Delf House
Southway
Skelmersdale
WN8 6WT

Page 1

Easthampstead Baptist Church

Trustees's Report

Independent Examiner Stewart & Co Accountants LLP Knoll House Knoll Road Camberley Surrey GU15 3SY

Structure, governance and management

The charity

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

Recruitment and appointment of 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.

Organisational structure

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.

Page 2

Easthampstead Baptist Church

Trustees's Report

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.

Major risks and management of those risks

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.

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.

Page 3

Easthampstead Baptist Church

Trustees's Report

(Social) Action Sundays

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 2023 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.

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 2023, 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.

Objectives and activities

Objects 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 2023, the church agreed the following objectives –

EBC OBJECTIVES/REVIEW 2023: INVITE, ABIDE, ENVIRONMENT

  1. INVITE.

What will success look like?

Page 4

Easthampstead Baptist Church

Trustees's Report

2. ABIDE.

What will success look like?

3. ENVIRONMENT.

What will success look like?

What will success look like?

• Our local ministries continue to flourish and develop - Storehouse, Food Pantry, Bacon Butty Club, EBC Coffee Mornings, Holiday at Home, Turkey & Tinsel, Soup & Sandwich etc, alongside our Sunday services.

• CAMEO is celebrated and promoted as a mission partner reaching local people with learning difficulties.

• Ongoing links with local agencies: Berkshire Women’s Aid, Bracknell Forest Borough Council, Pilgrim Hearts, Bracknell Christian Network etc.

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!

Page 5

Easthampstead Baptist Church

Trustees's Report

Church Ministries

During 2023, 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 2023 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 2023 a small team from EBC visited Sierra Leone and throughout the year 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 2023 the church had a total income of £316,272 (2022: £287,478). This total included: offerings and gifts - £152,171 (2022: £141,003); income tax recoverable - £34,569 (2022: £27,787); pastoral needs - £24,592 (2022: £5,362); other causes - £2,254 (2022: £5,196); miscellaneous donations - £931 (2022: £5,893); charitable activities £13,513 (2022: £10,242); church lettings - £84,261 (2022: £86,725); bank interest - £2,804 (2022: £1,375). Total Expenditure for the year was £331,893 (2022: £281,792). Of this total, significant costs were: ministry direct costs - £201,942 (2022: £142,746); missionary & charitable giving direct costs - £20,811 (2022: £34,708); support costs - £67,325 (2022: £64,885); governance costs - £5,100 (2022: £4,860)

Policy on reserves

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 £410,979 (2022: £417,158), designated reserves of £36,806 (2022: £41,942), and restricted reserves of £217,772 (2022: £222,078). The designated fund balance is held for ministry activities and works needed at the church. Of the restricted reserves balance, £193,268 (2022: £204,116) 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; £5,172 (2022: £5,504) is for the refurbishment of the toilets, £11,064 (2022: £1,555) is for costs relating to Storehouse, £4,693 (2022: £5,741) is held for costs relating to audio visual equipment, £1,730 (2022: £2,162) is held for costs relating to a stair lift and £1,575 (2022: £3,000) is held for cost related to supporting Bracknell Christian Network.

Statement of trustees's responsibilities

The trustees (who is also the director of Easthampstead Baptist Church for the purposes of company law) is responsible for preparing the trustees's report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".

Company law requires the trustee to prepare financial statements for each financial year. Under company law the trustee must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including its income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustee is required to:

Page 6

Easthampstead Baptist Church

Trustees's Report

The trustee is responsible for keeping proper accounting records that can disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. The trustees is responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

The annual report was approved by the trustee of the charity on 9 September 2024 and signed on its behalf by:

......................................... Mr R Lea Trustee

Page 7

Easthampstead Baptist Church

Independent Examiner's Report to the trustee of Easthampstead Baptist Church ('the Company')

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 December 2023.

Responsibilities and basis of report

As the charity’s trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).

Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner’s statement

Since the Company's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of , which is one of the listed bodies.

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

  1. accounting records were not kept in respect of Easthampstead Baptist Church as required by section 386 of the 2006 Act; or

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

  3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act 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; or

  4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)].

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

Knoll House Knoll Road Camberley Surrey GU15 3SY

9 September 2024

Page 8

Easthampstead Baptist Church

Statement of Financial Activities for the Year Ended 31 December 2023 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses)

Note
Income and Endowments from:
Donations and legacies
3
Charitable activities
4
Other trading activities
5
Investment income
6
Total income
Expenditure on:
Charitable activities
7
Other expenditure
8
Total expenditure
Net expenditure
Net movement in funds
Reconciliation of funds
Total funds brought forward
Total funds carried forward
17		 Unrestricted
funds
£
187,209
13,513
84,261
2,804
287,787
(262,387)
(36,715)
(299,102)
(11,315)
(11,315)
459,100
447,785		 Restricted
funds
£
28,485
-
-
-
28,485
(32,791)
-
(32,791)
(4,306)
(4,306)
222,078
217,772		 Total
2023
£
215,694
13,513
84,261
2,804
316,272
(295,178)
(36,715)
(331,893)
(15,621)
(15,621)
681,178
665,557

The notes on pages 12 to 26 form an integral part of these financial statements. Page 9

Easthampstead Baptist Church

Statement of Financial Activities for the Year Ended 31 December 2023 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses)

Note
Income and Endowments from:
Donations and legacies
3
Charitable activities
4
Other trading activities
5
Investment income
6
Total income
Expenditure on:
Charitable activities
7
Other expenditure
8
Total expenditure
Net income/(expenditure)
Net movement in funds
Reconciliation of funds
Total funds brought forward
Total funds carried forward
17		 Unrestricted
funds
£
165,560
10,242
86,725
1,375
263,902
(215,187)
(34,593)
(249,780)
14,122
14,122
444,978
459,100		 Restricted
funds
£
23,576
-
-
-
23,576
(32,012)
-
(32,012)
(8,436)
(8,436)
230,514
222,078		 Total
2022
£
189,136
10,242
86,725
1,375
287,478
(247,199)
(34,593)
(281,792)
5,686
5,686
675,492
681,178

All of the charity's activities derive from continuing operations during the above two periods. The funds breakdown for 2022 is shown in note 17.

The notes on pages 12 to 26 form an integral part of these financial statements. Page 10

Easthampstead Baptist Church

(Registration number: 1129467) Balance Sheet as at 31 December 2023

Note
Fixed assets
Tangible assets
13
Current assets
Debtors
14
Cash at bank and in hand
15
Creditors: Amounts falling due within one year
16
Net current assets
Net assets
Funds of the charity:
Restricted income funds
Restricted funds
Unrestricted income funds
Unrestricted funds
Total funds
17		 2023
£
564,519
22,139
85,488
107,627
(6,589)
101,038
665,557
217,772
447,785
665,557		 2022
£
559,321
29,112
97,605
126,717
(4,860)
121,857
681,178
222,078
459,100
681,178

For the financial year ending 31 December 2023 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements on pages 9 to 26 were approved by the trustee, and authorised for issue on 9 September 2024 and signed on his behalf by:

......................................... Mr R Lea Trustee

The notes on pages 12 to 26 form an integral part of these financial statements. Page 11

Easthampstead Baptist Church

Notes to the Financial Statements for the Year Ended 31 December 2023

1 Charity status

The charity is limited by share capital, incorporated in . The address of its registered office is: South Hill Road Easthampstead Bracknell Berkshire RG12 7NS

These financial statements were authorised for issue by the trustees on 9 September 2024.

2 Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

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.

Basis of preparation

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 re 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.

Going concern

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.

Exemption from preparing a cash flow statement

The charity opted to early adopt Bulletin 1 published on 2 February 2016 and have therefore not included a cash flow statement in these financial statements.

Page 12

Easthampstead Baptist Church

Notes to the Financial Statements for the Year Ended 31 December 2023

Income and endowments

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

Donations and legacies

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

Grants receivable

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 theinitial donation unless the donor or the terms of the appeal have specified otherwise.

Investment income

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.

Volunteer help

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

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.

Government grants

Government grants are recognised based on the accrual model and are measured at the fair value of the receivable.

Page 13

Easthampstead Baptist Church

Notes to the Financial Statements for the Year Ended 31 December 2023

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.

Tangible fixed assets

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

Depreciation and amortisation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class Depreciation method and rate Buildings 2% and 1% on cost Fittings and equipment 10% on cost

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

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.

Fund structure

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.

Pensions and other post retirement obligations

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.

Page 14

Easthampstead Baptist Church

Notes to the Financial Statements for the Year Ended 31 December 2023

3 Income from donations and legacies

Offerings and gifts
Income tax recoverable
Pastoral Need Fund
donations/Storehouse
Tear Fund
Samaritans Purse
Sierra Leone trip
Homestart
General Mission Support
Miscellaneous donations,
gifts & sundries		 Unrestricted funds
Designated
£
General
£
16,230
135,941
3,758
29,841
-
-
-
-
-
-
-
-
-
-
-
508
-
931
19,988
167,221		 Restricted
funds
£
-
970
24,592
566
232
1,286
170
669
-
28,485		 Total
2023
£
152,171
34,569
24,592
566
232
1,286
170
1,177
931
215,694		 Total
2022
£
141,003
27,787
5,362
635
528
4,033
-
3,895
5,893
189,136

In 2022 £23,576 of donation income related to restricted funds and £8,383 to designated funds

4 Income from charitable activities

Catering
Children and youth
Older persons work		 Unrestricted
funds
General
£
8,686
1,184
3,643
13,513		 Total
2023
£
8,686
1,184
3,643
13,513		 Total
2022
£
5,781
1,170
3,291
10,242

In 2022, no income from charitable activities related to restricted funds.

Page 15

Easthampstead Baptist Church

Notes to the Financial Statements for the Year Ended 31 December 2023

5 Income from other trading activities

Church lettings Unrestricted
funds
General
£
84,261
84,261		 Total
funds
£
84,261
84,261		 Total
2022
£
86,725
86,725

In 2022, no income from other trading activities related to restricted funds.

6 Investment income

Interest receivable on bank deposits Unrestricted
funds
General
£
2,804		 Total
2023
£
2,804		 Total
2022
£
1,375

In 2022 all of the investment income related to unrestricted funds.

7 Expenditure on charitable activities

By fund

Note
Missionary and
charitable giving
7.1
Ministry
7.2
Allocated
support costs		 Unrestricted funds
Designated
£
General
£
-
16,528
25,124
148,310
-
72,425
25,124
237,263		 Restricted
funds
£
4,283
28,508
-
32,791		 Total
2023
£
20,811
201,942
72,425
295,178		 Total
2022
£
34,708
142,746
69,745
247,199

In 2022 £32,012 of the total expenditure on charitable activities related to restricted funds and £15,393 related to designated.

Page 16

Easthampstead Baptist Church

Notes to the Financial Statements for the Year Ended 31 December 2023

By Activity

By Activity
Note
Missionary and charitable
giving
7.1
Ministry
7.2		 Activity
undertaken
directly
£
20,811
201,942
222,753		 Activity
support costs
£
969
71,456
72,425		 2023
£
21,780
273,398
295,178		 2022
£
35,631
211,568
247,199

In addition to the expenditure analysed above, there are also governance costs of £5,100 (2022 - £4,860) which relate directly to charitable activities. See note for further details.

7.1 Analysis of Direct Expenditure on Missionary and Charitable Giving

Note
BU Home Mission
Tear Fund - general
Samaritan’s Purse – Xmas
shoeboxes
Dorothy – Springer Trust
Storehouse
Mission support – general
Mission support – Sierra
Leone
Others
Homestart		 Unrestricted
funds
General
£
2,500
1,176
1,086
8,000
-
1,173
2,193
200
200
16,528		 Restricted
funds
£
-
566
232
-
1,360
-
1,286
669
170
4,283		 Total
2023
£
2,500
1,742
1,318
8,000
1,360
1,173
3,479
869
370
20,811		 Total
2022
£
2,500
1,200
1,071
8,000
1,121
6,072
9,956
4,788
-
34,708

Page 17

Easthampstead Baptist Church

Notes to the Financial Statements for the Year Ended 31 December 2023

7.2 Analysis of Expenditure on Ministry Activities Undertaken Directly

Note
Trustees’
remuneration
Trustees’ pension
costs
Wages and salaries
Social security costs
Pension costs
Travel costs
Conferences and
training
Evangelism &
publicity
Affiliation fees &
worship costs
Catering
Youth & Children
Older Person’s work
Depreciation
Storehouse
TV Licence
Replacement
equipment
Sundries
Ministry materials
Ministry unto Church
Hall hire
Gift Day – 2021
Refresh café running
costs
Gift Day – 2022
Gift Day – 2023
Berkshire Christan
Network		 Unrestricted funds
Designated
£
General
£
-
73,466
-
1,800
-
27,349
-
5,441
-
1,458
-
1,043
-
6,813
-
3,956
-
1,977
-
5,058
-
2,474
-
2,243
-
1,295
-
-
-
159
-
1,186
-
1,480
-
7,551
-
2,309
-
864
-
-
-
388
8,124
-
17,000
-
-
-
25,124
148,310		 Restricted
funds
£
-
-
-
-
-
-
-
-
-
-
-
-
12,245
14,693
-
-
145
-
-
-
-
-
-
-
1,425
28,508		 Total
2023
£
73,466
1,800
27,349
5,441
1,458
1,043
6,813
3,956
1,977
5,058
2,474
2,243
13,540
14,693
159
1,186
1,625
7,551
2,309
864
-
388
8,124
17,000
1,425
201,942		 Total
2022
£
69,068
(17,667)
25,578
5,073
897
262
827
4,123
1,981
4,449
2,021
1,961
12,816
9,620
159
1,974
1,589
192
1,537
893
15,393
-
-
-
-
142,746

Page 18

Easthampstead Baptist Church

Notes to the Financial Statements for the Year Ended 31 December 2023

7.3 Analysis of Support Costs and Governanace Costs

Note
Support costs
Heat, light, power and water
Insurance and maintenance
Cleaner salaries
Website costs
Office & Administration costs
HR Consultancy
Caretaker salaries
Social security costs
Pension costs
Governance costs
Independent Examiner’s remuneration
8
Other expenditure
Wages and salaries
Social security
Pension costs
Light and heat
Other costs		 Unrestricted
funds
General
£
5,505
11,781
12,385
1,004
13,143
288
21,703
1,060
456
67,325
5,100
72,425
Unrestricted
funds
General
£
29,555
1,712
684
3,536
1,228
36,715		 Total
2023
£
5,505
11,781
12,385
1,004
13,143
288
21,703
1,060
456
67,325
5,100
72,425
Total
2023
£
29,555
1,712
684
3,536
1,228
36,715		 Total
2022
£
5,137
15,452
10,686
1,031
11,215
141
19,873
944
406
64,885
4,860
69,745
Total
2022
£
27,915
1,613
635
3,293
1,137
34,593

Page 19

Easthampstead Baptist Church

Notes to the Financial Statements for the Year Ended 31 December 2023

9 Net incoming/outgoing resources

Net (outgoing)/incoming resources for the year include:

Depreciation of fixed assets
Trustees’ remuneration
Trustees’ pension costs (defined contribution scheme)
Independent examiner’s remuneration		 2023
£
13,550
72,466
1,800
5,100		 2022
£
12,831
68,368
(17,667)
4,860

10 Trustees remuneration and expenses

Total employment benefits including employer pension contributions of the key management personnel was £74,266 (2022: £50,701).

The Team Leader and Trustee, Mr S. Lace, received £41282 (2022: £38944) and the Ministry Director and Trustee, Mrs P Marsh received £31,184 (2022: £29,425)

The total pension contribution from the Church for the Senior Minister was £1,011 (2022: £4,435). No pension contributions were outstanding at the balance sheet date.

Trustees’ expenses

No trustees have received any reimbursed expenses from the charity during the year.

11 Staff costs

The aggregate payroll costs were as follows:

Staff costs during the year were:
Wages and salaries
Social security costs
Pension costs		 2023
£
150,320
8,213
4,398
162,931		 2022
£
141,145
7,630
(15,729)
133,046

The monthly average number of persons (including senior management / leadership team) employed by the charity during the year expressed as full time equivalents was as follows:

Ministry
Upkeep of Church Premises		 2023
No
5
1
6		 2022
No
5
1
6

Contributions to the employee pension schemes for the year totalled £1,800 (2022 - £(17,667)).

No employees received employee benefits (excluding employer pension costs) in excess of £60,000 (2022: none).

Page 20

Easthampstead Baptist Church

Notes to the Financial Statements for the Year Ended 31 December 2023

12 Taxation

The charity is a registered charity and is therefore exempt from taxation.

13 Tangible fixed assets

Cost
At 1 January 2023
Additions
At 31 December 2023
Depreciation
At 1 January 2023
Charge for the year
At 31 December 2023
Net book value
At 31 December 2023
At 31 December 2022
14 Debtors
Prepayments
Other debtors
15 Cash and cash equivalents
Cash at bank
Other cash and cash equivalents		 Land and
buildings
£
761,720
16,590		 Furniture and
equipment
£
98,572
2,158
100,730
91,366
2,370
93,736
6,994
7,206
2023
£
1,813
20,326
22,139
2023
£
85,338
150
85,488		 Furniture and
equipment
£
98,572
2,158
100,730
91,366
2,370
93,736
6,994
7,206
2023
£
1,813
20,326
22,139
2023
£
85,338
150
85,488		 Total
£
860,292
18,748
879,040
300,971
13,550
314,521
564,519
559,321
2022
£
3,625
25,487
778,310 100,730
209,605
11,180		 91,366
2,370
220,785 93,736
557,525 6,994
552,115 7,206
2023
£
1,813
20,326
22,139
2023
£
85,338
150
85,488
29,112
2022
£
97,455
150
97,605

Page 21

Easthampstead Baptist Church

Notes to the Financial Statements for the Year Ended 31 December 2023

16 Creditors: amounts falling due within one year

Other creditors
Accruals
17 Funds
Unrestricted funds
General
Unrestricted designated funds
Gift Day 2016
Gift Day 2020
Gift Day 2021
Gift Day 2022
Gift Day 2023
Designated
Total unrestricted funds
Church Building Fund
Other donations
Sierra Leone
External Causes
Storehouse
Toilets
Berkshire Christian Network
Restricted funds
Total funds		 Balance at 1
January 2023
£
417,158
17,218
7,875
8,466
8,383
-
41,942
459,100
204,116
7,903
-
-
1,555
5,504
3,000
222,078
681,178		 Incoming
resources
£
267,799
-
-
-
-
19,988
19,988
287,787
-
-
1,286
1,637
25,562
-
-
28,485
316,272		 2023
£
1,489
5,100
6,589
Resources
expended
£
(273,978)
-
-
-
(8,124)
(17,000)
(25,124)
(299,102)
(10,848)
(1,210)
(1,286)
(1,637)
(16,053)
(332)
(1,425)
(32,791)
(331,893)		 2022
£
-
4,860
4,860
Balance at 31
December
2023
£
410,979
17,218
7,875
8,466
259
2,988
36,806
447,785
193,268
6,693
-
-
11,064
5,172
1,575
217,772
665,557

Page 22

Easthampstead Baptist Church

Notes to the Financial Statements for the Year Ended 31 December 2023

Unrestricted funds
General
Unrestricted designated funds
Gift Day 2016
Gift Day 2020
Gift Day 2021
Gift Day 2022
Designated
Total unrestricted funds
Church Building Fund
Other donations
Sierra Leone
External Causes
Storehouse
Toilets
Berkshire Christian Network
Future Missions Fund
Restricted funds
Total funds		 Balance at 1
January 2022
£
396,026
17,218
7,875
23,859
-
48,952
444,978
214,964
2,594
-
-
6,076
5,504
-
1,376
230,514
675,492		 Incoming
resources
£
255,519
-
-
-
8,383
8,383
263,902
-
6,000
4,033
4,323
6,220
-
3,000
-
23,576
287,478		 Resources
expended
£
(234,387)
-
-
(15,393)
-
(15,393)
(249,780)
(10,848)
(691)
(4,033)
(4,323)
(10,741)
-
-
(1,376)
(32,012)
(281,792)		 Balance at 31
December
2022
£
417,158
17,218
7,875
8,466
8,383
41,942
459,100
204,116
7,903
-
-
1,555
5,504
3,000
-
222,078
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.

Page 23

Easthampstead Baptist Church

Notes to the Financial Statements for the Year Ended 31 December 2023

18 Analysis of net assets between funds

Tangible fixed assets
Current assets
Current liabilities
Total net assets
Tangible fixed assets
Current assets
Current liabilities
Total net assets		 Unrestricted funds
General
£
Designated
£
360,608
-
56,960
36,806
(6,589)
-
410,979
36,806
Unrestricted funds
General
£
Designated
£
350,827
-
71,191
41,942
(4,860)
-
417,158
41,942		 Restricted
funds
£
203,911
13,861
-
217,772
Restricted
funds
£
208,494
13,584
-
222,078		 Total funds at
31 December
2023
£
564,519
107,627
(6,589)
665,557
Total funds at
31 December
2022
£
559,321
126,717
(4,860)
681,178

19 Related charities

During the year the charity made the following related party transactions: The custodian Trustee of the Church is the Baptist Union Corporation Limited (charity number 249635), which iscontrolled by the Baptist Union Council. The Church is also a member of the Baptist Union of Great Britain, and theSouthern Counties Regional Baptist Association.The Church made donations to the Baptist Union Home Mission Scheme as set out in note 7.

19.1Defined 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.

Page 24

Easthampstead Baptist Church

Notes to the Financial Statements for the Year Ended 31 December 2023

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 Broadstone Corporate Benefits Ltd. In addition, the employer pays a further 4% of Pensionable Income to cover Death in Service Benefits, administration costs, and an associated insurance policy which provides income protection for Scheme members if they are unable to work due to long-term incapacity. This income protection policy has been insured by the Baptist Union of Great Britain with Aviva Limited. [Members of the Basic Section pay reduced contributions of 5% of Pensionable Income, and their employers also pay a total of 5%.]

The Scheme is considered to be a multi-employer scheme as described in Section 28 of FRS 102. 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 levelof 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:

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) (gilt yield plus 0.5% pa)1.70
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%.

Page 25

Easthampstead Baptist Church

Notes to the Financial Statements for the Year Ended 31 December 2023

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. Following the 2019 valuation a Recovery Plan was signed in September 2020 under which deficiency contributions were payable until June 2026.

On 30th June 2022 the Baptist Pension Scheme signed an agreement with the insurance company Just Group (“Just”) to secure DB Plan members’ pension benefits. Just are now providing financial backing for all pensions provided through the Scheme’s DB Plan and, following this transaction, the Scheme no longer has a shortfall. An updated Recovery plan was then signed in August 2022 under which recovery contributions from each participating employer in the DB Plan reduced to £1 per month from August 2022. These contributions are payable under the recovery plan until June 2026. The outstanding deficiency contributions due under the Recovery Plan are not considered material and therefore have not been included in the balance sheet.

Movement in Balance Sheet liability

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

Accounting date (year ending): 31 Dec 2023 31 Dec 2022
£ £
Balance sheet liability at year start - 22,200
Minus deficiency contributions paid - (2,856)
Interest cost (recognised in SoFA) - 416
Remaining change to balance sheet liability* (recognised in SoFA) - (19,760)
Balance sheet liability at year end - -
* Comprises any change in agreed deficit recovery plan and change in assumptions between year-ends.

Where relevant, the 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:

payments:
Accounting date 31 Dec 2023 31 Dec 2022 31 Dec 2021
Discount rate N/A 5.7% 2.0%
Future increases to Minimum Pensionable Income N/A 3.3% 3.0%

Page 26