2023-04-05-accounts - Morden Baptist Church

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FOR THE YEAR ENDED 5APRIL 2023	FOR THE YEAR ENDED 5APRIL 2023
			Unrestricted		funds	Restricted	Total	Total
			General	Designated		funds	Funds	Funds
							2023	2022
			K		6	6	8	E
		Note
Income
Donations and legacies
Regular Giving			95,634				95,634	126,302
Tax refunds			23,510				23,510	32,039
Restricted giving		g				2,166	2,166	16,482
Other gNs and donations			4,275				4,275	2,135
Other Income		2	233				233	612
Other trading activities
Use ofpremises			94,567				94,567	64,512
Interest received			204				204	22
Total income			218,423			2,166	220,589	242,104
Expenditure
Charitable activities
Direct costs		3	116,972			1,342	118,314	97,419
Reduction in pension liability		10	(23,620)				(23,620)	(966)
Premises and Support Costs		4	64,136				64,136	56,864
Total expenditure			157,488			1,342	158,830	153,317
Net income I(expenditure)			60,935			824	61.759	88,787
Transfers between	funds		(4,157)		4,157
Net movement in	funds		56,778		4,157	824	61,759	88,787
Reconciliation of	funds
Funds brought forward at 5April 2022		9	51,903		1,405,222	12,564	1,469,689	1,380,902
Funds carried forward at 5April 2023		g	108,681		1,409,379	13,388	1,531,448	146g 68g

FOR THE YEAR ENDED 5April 2022
		Unrestricted		funds	Restricted	Total	Total
		General	Designated		funds	Funds	Funds
		f		f	f	2022 f	202f
	Nota
Income
Donations and legacies
Regular Giving		126,302				126,302	109,139
Tax refunds		32,039				32,039	34,454
Restricted giving	9				16,482	16,482	1,862
Other gilts and donations		2,135				2,135	234
Other Income	2	612				612	5,394
Other trading activities
Use ofpremises						64,512	35,595
Interest received							43
Total income		225,622			16,482	242,104	186,741
Expenditure
Charitable activities	3	97,419				97,419	119,846
Direct costs	10	(966)				(966)	(15,635)
Reduction in pension liability	4	51,532			5,332	56,864	36,94?
Premises and Support Costs
Total expenditure		147,985			5,332	153,317	141,158
Net income I(expenditure)		77,637			11,150	88,787	45,583
Transfers between funds		(16,911)		31,667	(14,756)
Net movement in funds		60,726		31,667	(3,606)	88,787	45,583
Reconciliation offunds
Funds brought forward at 5April 2021	9	8,823	1,373,555		16,170	1,380,902	1,335,319
Funds carried forward at 5April 2022	9	51,903	1,405,222		12,564	1,469,689	1,380,902

Staffcosts
					Total	Total
					2023	2022
					6	6
Salaries and social security					76,582	68,074
Pension costs					8,603	7,253
					85,185	75,327
					2023	2022
Number ofemployees					4	4
					2023	2022
					8	6
Key Management	Personnel	remuneration	induding	social security and
pension costs

				Unrestricted	Designated	Restricted	Total	Total
				funds	Funds	funds	2023	2022
				6	6	6	6	6
AV equipment
Bank charges				129			129	73
Church and manse		insurance		3,642			3,642	3,295
Church repairs	and	maintenance		17,523			17,523	22,026
Church utilities				12,187			12,187	10,087
Cleaning				4,818			4,818	246
Independent Examination Fees				2,079			2,079	1,890
IT-computers	and	hardware		1,458			1,458	1,390
IT —support, backup		and software		1,338			1,338	740
Manse repairs	and	maintenance		5,570			5,570	2,560
Manse utilities				2,636			2,636	5,305
Office equipment				118			118	127
Printing, stationery		and	equipment	4,227			4,227	2,526
Professional services				2,217			2,217	2,312
Telephones, including			manse	3,194			3,194	3,287
Depreciation				3,000			3,000	1,000
Total premises	and	support costs					64,136
Tangible fixed	assets
				Church Manse:		Manse:	Garden	Total
				and halls 1	Links	254	development
				Avenue		Hillcross
						Avenue
Cost
At6 April 2022				500,000	585,000	505,000	15,000	1,605,000
AddMons
At5 April 2023				500,000	585,000	505,000	15,000	1,605,000
Depreciation
At 6April 2022							1,000	1,000
Charge forthe	year						3,000	3,000
At5April 2023							4,000	4,000
Net Book Value	at 5April 2023			500,000	585,000	505,000	11,000	1,601,000
Net Book Value	at 5April 2022			500,000	585,000	505,000	14,000	1,604,000

6	Debtors
				2023
	Tax recoverable			8,104	9,899
	Prepayments	and accrued income		22,636	12,267
				30,740	22,166
7	Creditors: liabilities falling due within one year
				2023	2022
					8
	LBPBLoan			16,667	16,667
	Accruals and	deferred	income	6,808	8,996
				23,475	25,663
8	Creditors: liabilities falling due afier one year
				2023	2022
				6
	LBPBLoan:	repayment	due within:
	1to 2years			16,667	16,667
	2to 5years			50,000	50,000
	More than 5	years		124,954	141,621
				191,621	208,288

2023			Balance at	Balance at	Movement	Movement	in resources	Balance at	Balance at	Balance at
			6April 2022 6		Income 6	Expenditurefrfr f		5April 6		2023
Education Fund				746						746
Mission Targeted				1,307						1,307
Stair Lift				111						111
Zim Kids
Ivy Huxter Memorial	Bible			2,182						2,182
Leisure Day - Minibus		Fund		1,507						1,507
Leisure Day Soul Survivor				2,845 1,538			(66)			2,779 1,538
Grace Room Blinds				81						81
Bequest (purpose to		be agreed)		2,000						2,000
Spurgeon's College				247						247
Prayer room
Garden project					2,166		(1,276)			890
Church kitchen equipment
				12,564	2,166		(1,342)	13,388
Movements in restricted funds
2022			Balance at		Movement		in resources	Balance		at
			6April 2021 f		Income 8	Expenditure/Tfr 6		5April 6	2022
Education Fund				721	25					746
Mission Targeted				1,307						1,307
Stair Lift				111						111
Zim Kids				18			(18)
Ivy Huxter Memorial	Bible			2,182					2,182
Leisure Day - Minibus		Fund		1,507					1,507
Leisure Day				2,845					2,845
Soul Survivor Grace Room Blinds				1,538 81					1,538 81
Bequest (purpose to	be agreed)			2,000					2,000
Spurgeon's College				247						247
Prayer room
Garden project				3,613	13,957		(17,570)
Church Kitchen Equipment					2500		2,500
			16,170		16,482		(20,088)	12,564

Analysis ofnet assets between	funds
2023	Unrestricted	Designated	Restricted	Total
	funds	funds	funds	2023
		6		6
Fund Balances are represented	by
Tangible Fixed Assets		1,601,000		1,601,000
Net current assets	108,681	-	13,388	122,069
Provisions
Long term liabilities		(191,621)		(191,621)
Fund Values	108,681	1,409,379	13,388	1,531,448
Analysis ofnet assets between funds
2022	Unrestricted	Designated	Restricted	Total
	funds	funds	funds	2022
	F	8	6	6
Fund Balances are represented	by
Tangible Fixed Assets		1,604,000		1,604,000
Net current assets	76,703	9,510	12,564	98,777
Provisions	(24,800)			(24,800)
Long term liabilities		(208,288)		(208,288)
Fund Values	51,903	1,405,222	12,564	1,469,689

he valuation ote a past service funding level of94%). The Church and the other employer sponsible for funding this deficit. he key assumptions underlying the valuation were as follows:	s suppo
Type ofassumption	N pa
RPI price inflation assumption RPI price infiation assumption CPI price inflation assumption Minimum Pensionable Income Increase Adjustment (above CPI) Pre-retirement assumed investment returns (gilt yield plus 1.75%pa) Post retirement assumed investment returns (induding benefits matched	3.20 3.20 2.70 0.50 2.95 1.70
by the insurance policy) (gilt yield plus 0.5%pa) Minimum Pensionable Income increases (CPI plus 0.5%)	3.20
Deferred pension increases (based on RPI) Pre April 2009 Post April 2009	3.20 2.50
Pension increases Based on CPI with an annual floor of0%and annual cap of5%	2.70

vemen ction 28.11A ofFRS 102requires agreed deficit recovery pa he provision isset out in the table below.	yments to beyecognised as a li	ability. The move
	2023	2022
Liability brought forward Deficiency contributions paid in year Interest cost Remaining change to balance sheet liability * Liability at year end	24,800 (1,900) 720 ~23,62D	30,400 (5,147) 513 ~966 24,6DD

The total futu	re minimum lease payments under operating leases	at 5April 2023were payable as s
		2023 f	2022 f
		406	1,805
Within one year
			406
Within two to five	years
Over 5years		406	2,211
The operating lease charges for the year were: Hire ofcomputer equipment		1,805	2,211