| Page | |||
|---|---|---|---|
| Reference and Administrative Details |
|||
| Report ofthe Trustees | 2 | to | 6 |
| Independent Examiner's Report |
|||
| Statement ofFinancial Activities | |||
| Balance Sheet | |||
| Notes tothe Financial Statements | 10 | to | 19 |
| TRUSTEES | The Revd M Huckle (Senior Pastor) | The Revd M Huckle (Senior Pastor) | The Revd M Huckle (Senior Pastor) | The Revd M Huckle (Senior Pastor) | |
|---|---|---|---|---|---|
| Mr H Francis (Treasurer) | |||||
| Mr SReynolds | (resigned 1.4.22) | ||||
| Mrs M Murray | |||||
| Mr P Pike | |||||
| Mr C Ridout | |||||
| Mr J Frowd | |||||
| Mr R King | |||||
| Mr A Price (appointed 13.7.22) | |||||
| Mr N Tuck (appointed 13.7.22) | |||||
| Mr M Hones (appointed 19.10.22) | |||||
| Mr J A Shepherd | (appointed 1.7.23) | ||||
| PRINCIPAL ADDRESS | 283a Salisbury | Road | |||
| Totton | |||||
| Southampton | |||||
| SO40 3LZ | |||||
| REGISTERED CHARITY NUMBER | 1129913 | ||||
| INDEPENDENT | EXAMINER | Sheen Stickland | |||
| Chartered Accountants |
|||||
| 2 Oriel Court | |||||
| Omega Park | |||||
| Alton | |||||
| Hampshire | |||||
| 6U34 2YT | |||||
| BANKERS | Lloyds Bank pic | ||||
| 30Commercial | Road | ||||
| Totton | |||||
| Southampton | |||||
| PROPERTY TRUSTEES | The Baptist Union Corporation | Limited | |||
| Baptist House | |||||
| 129Broadway | |||||
| Didcot | |||||
| Oxfordshire | |||||
| OX11BRT |
| 2022 | 2021 | ||||||
|---|---|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | Total | ||||
| fund | funds | funds | funds | ||||
| Notes | f | E | f | f | |||
| INCOME AND ENDOWMENTS | FROM | ||||||
| Donations | and legacies | 332,159 | 332,159 | 295,314 | |||
| Charitable | activities | ||||||
| Charitable | activities | 4,019 | 4,019 | 4,469 | |||
| Investment | income | 13 | 13 | 3 | |||
| Other income | 1,547 | ||||||
| Total | 336,191 | 336,191 | 301,333 | ||||
| EXPENDITURE ON | |||||||
| Charitable | activities | ||||||
| Ministry | 185,865 | 185,865 | 174,003 | ||||
| Establishment | 102,755 | 21,582 | 124,337 | 119,431 | |||
| Mission | 26,010 | 2,750 | 28,760 | 27,440 | |||
| The Hub | 1,125 | 1,125 | 556 | ||||
| Governance | costs | 6,704 | 6,704 | 5,348 | |||
| Total | 322,459 | 24,332 | 346,791 | 326,778 | |||
| NET INCOME/(EXPENDITURE) | 13,732 | (24,332) | (10,600) | (25,445) | |||
| RECONCILIATION OF FUNDS |
|||||||
| Total funds | brought forward | 119,389 | 772,427 | 891,816 | 917,261 | ||
| TOTAL FUNDS CARRIED FORWARD | 133,121 | 748,095 | 881,216 | 891,816 |
| 2022 | 2021 | ||||
|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | Total | ||
| fund | funds | funds | funds | ||
| Notes | f | f | f | f | |
| FIXEDASSETS | |||||
| Tangible assets | 11 | 106,125 | 747,000 | 853,125 | 878,972 |
| CURRENT ASSETS | |||||
| Debtors | 12 | 14,776 | 14,776 | 10,541 | |
| Cash at bank | 13 | 18,320 | 1,095 | 19,415 | 31,203 |
| 33,096 | 1,095 | 34,191 | 41,744 | ||
| CREDITORS | |||||
| Amounts falling due within one year |
14 | (6,100) | (6,100) | (5,000) | |
| NET CURRENT ASSETS | 26,996 | 1,095 | 28,091 | 36,744 | |
| TOTAL ASSETS LESSCURRENT LIABILITIES | 133,121 | 748,095 | 881,216 | 915,716 | |
| PROVISIONS FOR LIABILITIES | 15 | (23,900) | |||
| NET ASSETS | 133,121 | 748,095 | 881,216 | 891,816 | |
| FUNDS | 16 | ||||
| Unrestricted funds |
133,121 | 119,389 | |||
| Restricted funds | 748,095 | 772,427 | |||
| TOTAL FUNDS | 881,216 | 891,816 |
| DONATIO | NS AND LEGACIES |
||
|---|---|---|---|
| 2022 | 2021 | ||
| f | E | ||
| Offering | and donations | 282,181 | 249,677 |
| Gift aid | 49,978 | 44,792 | |
| Weddings | and funerals | 845 | |
| 332,159 | 295,314 |
| INVESTMENT INCOME | |||||
|---|---|---|---|---|---|
| 2022 | 2021 | ||||
| f | f | ||||
| Bank interest | 13 | ||||
| INCOME FROM CHARITABLE | ACTIVITIES | ||||
| 2022 | 2021 | ||||
| Activity | f | f | |||
| Rents received | Charitable | activities | 2,745 | 3,410 | |
| The Hub | Charitable | activities | 1,274 | 1,059 | |
| 4,019 | 4,469 | ||||
| GRANTS PAYABLE | |||||
| Unrestricted | Restricted | Total | Total | ||
| 2022 | 2021 | ||||
| f | f | ||||
| Youth and Families Matter | 10,350 | 10,350 | 13,200 | ||
| Hour of Revival (Dugmores) | 1,500 | 1,500 | 1,500 | ||
| Home Mission Fund |
1,500 | 1,500 | 1,500 | ||
| MAF (Watermans) | 1,500 | 1,500 | 1,500 | ||
| Amor Europe (Youth Development) | 1,800 | 1,800 | 1,800 | ||
| Southampton City Mission |
720 | 720 | 720 | ||
| Baptist Missionary Society | 300 | 300 | 300 | ||
| Thelma Mills |
240 | 240 | 240 | ||
| Southern CBA |
100 | 100 | 100 | ||
| Watermans -donations |
1,500 | ||||
| Tearfund | 730 | ||||
| Dugmore -donation towards |
vehicle | 2,900 | |||
| Dugmore -donations |
500 | ||||
| JTuck - towards moving expenses |
700 | ||||
| Mission trip (G Houghton) | 250 | ||||
| Totton Fun Day- donation | 3,000 | 2,000 | 5,000 | ||
| British Youth for Christ | 750 | 750 | |||
| Aid for Ukraine | 5,000 | 5,000 | |||
| 26,010 | 2,750 | 28,760 | 27,440 |
| 2022 | 2021 | |
|---|---|---|
| Employees | 7 | 7 |
| Unrestricted | Restricted | Tata I |
||||
|---|---|---|---|---|---|---|
| fund | funds | funds | ||||
| E | f | f | ||||
| INCOME AND ENDOWMENTS | FROM | |||||
| Donations | and legacies | 292,784 | 2,530 | 295,314 | ||
| Charitable | activities | |||||
| Charitable | activities | 4,469 | 4,469 | |||
| Investment | income | 3 | 3 | |||
| Otherincome | 1,547 | 1,547 | ||||
| Total | 298,803 | 2,530 | 301,333 | |||
| EXPENDITURE ON | ||||||
| Charitable | activities | |||||
| Ministry | 174,003 | 174,003 | ||||
| Establishment | 90,053 | 29,378 | 119,431 | |||
| Mission | 27,190 | 250 | 27,440 | |||
| The Hub | 556 | 556 | ||||
| Governance | costs | 5,348 | 5,348 | |||
| Total | 297,150 | 29,628 | 326,778 | |||
| NET INCOME/(EXPENDITURE) | 1,653 | (27,098) | (25,445) | |||
| RECONCILIATION OF FUNDS |
||||||
| Total funds | brought | forward | 117,736 | 799,525 | 917,261 | |
| TOTAL FUNDS CARRIED FORWARD | 119,389 | 772,427 | 891,816 |
| BPSDBPlan | |||
|---|---|---|---|
| Date ofvaluation | 31December 2019 | ||
| Date of next valuation | 31December 2022 | ||
| Market value ofscheme assets Technical provisions (B) |
(A) | f298m f316m |
|
| Deficit [(B)- (A)] | f18m | ||
| Funding level [(A)/ (B)] |
94% | ||
| The key financial assumptions |
underlying | the valuation | were as follows; |
| BPS | ||
|---|---|---|
| Type assumption | %pa | |
| RPI price inflation | assumption | 3.20 |
| CPI price inflation | assumption | 2.70 |
| Minimum Pensionable Income increase (BPSonly) |
3.20 | |
| Pensionable Salary |
increases (BUSPS only) | n/a |
| Assumed investment returns |
||
| - Pre-retirement | 2.95 | |
| - Post retirement | 1.70 | |
| Deferred pension | increases |
| —Pre April 2009 | 3.20 |
|---|---|
| - Post April 2009 | 2.50 |
| Pension increases | |
| - Main Scheme Pension | 2.70 |
| 31.12.22 | 31.12.21 | |||||
|---|---|---|---|---|---|---|
| f | f | |||||
| Balance sheet liability at | year | start | 23,900 | 29,615 | ||
| Minus deficiency contributions | paid | (3,023) | (5,098) | |||
| Interest cost (recognised | in SOFA) | 448 | 243 | |||
| Remaining change to balance |
sheet liability' | (recognised | in SOFA) | (21,325) | (860) | |
| Balance sheet liability at | year | end | 23,900 |
| valued using the following ass |
umptions se |
t by reference to | the duration ofthe def | icit recovery pay | ments: |
|---|---|---|---|---|---|
| Accounting date |
31.12.22 | 31.12.21 | 31,12.20 | ||
| Discount rate | 5.7% | 2.0% | 0.9% | ||
| Future increases to Minimum | Pensionable | Income | 0.0% | 4.1% | 3.5% |
| TANGIBLE FIXEDASSETS | |||||
|---|---|---|---|---|---|
| Furniture | |||||
| Church | and | Computers | |||
| premises | Manse | fittings | &equipment | Totals | |
| f | f | E | f | f | |
| COST | |||||
| At 1stJanuary 2022 | 1,061,713 | 97,000 | 100,695 | 49,986 | 1,309,394 |
| Additions | 4,790 | 2,205 | 6,995 | ||
| Disposals | (4,043) | (2,529) | (6,572) | ||
| At 31st December 2022 | 1,061,713 | 97,000 | 101,442 | 49,662 | 1,309,817 |
| DEPRECIATION | |||||
| At 1stJanuary 2022 | 294,161 | 94,554 | 41,707 | 430,422 | |
| Charge for year | 21,234 | 2,443 | 6,402 | 30,079 | |
| Eliminated on disposal |
(1,280) | (2,529) | (3,809) | ||
| At 31st December 2022 | 315,395 | 95,717 | 45,580 | 456,692 | |
| NET BOOK VALUE | |||||
| At 31st December 2022 | 746,318 | 97,000 | 5,725 | 4,082 | 853,125 |
| At 31st December 2021 | 767,552 | 97,000 | 6,141 | 8,279 | 878,972 |
| 2022 | 2021 | |||||
|---|---|---|---|---|---|---|
| E | f | |||||
| Accrued income | —Gift Aid | 14,776 | 10,541 | |||
| CASH AT BANK | ||||||
| 2022 | 2021 | |||||
| General | Gordon Tuck | Total | Total | |||
| fund | Fund | funds | funds | |||
| f | E | E | E | |||
| Lloyds Current Account | —No 1 | 2,434 | 1,095 | 3,529 | 4,575 | |
| Lloyds Current Account | —No 2 | 15,235 | 15,235 | 26,125 | ||
| Hub Account | 651 | 651 | 503 | |||
| Total | 18,320 | 1,095 | 19,415 | 31,203 |
| 14. | CREDITORS: | AMOUNTS | FALLING | DUE WITHIN ONE YEAR | ||||
| 2022 | 2021 | |||||||
| E | E | |||||||
| Accruals and | deferred income | 6,100 | 5,000 | |||||
| 15. | PROVISIONS | FOR LIABILITIES | ||||||
| 2022 | 2021 | |||||||
| f | f | |||||||
| Defined benefit | pension | scheme | liability | 23,900 | ||||
| 16. | MOVEMENT | IN | FUNDS | |||||
| Net | ||||||||
| movement | At | |||||||
| At 1.1.22 | in funds | 31.12.22 | ||||||
| E | f | E | ||||||
| Unrestricted | funds | |||||||
| General fund | 119,389 | 13,732 | 133,121 | |||||
| Restricted funds | ||||||||
| Building fund | 768,582 | (21,582) | 747,000 | |||||
| Gordon Tuck | Fund | 3,845 | (2,750) | 1,095 | ||||
| 772,427 | (24,332) | 748,095 | ||||||
| TOTAL FUNDS | 891,816 | (10,600) | 881,216 | |||||
| Net movement | in funds, | included | in the above are as follows: | |||||
| Incoming | Resources | Movement | ||||||
| resources | expended | in funds | ||||||
| E | f | f | ||||||
| Unrestricted | funds | |||||||
| General fund | 336,191 | (322,459) | 13,732 | |||||
| Restricted funds | ||||||||
| Building fund | (21,582) | (21,582) | ||||||
| Gordon Tuck | Fund | (2,750) | (2,750) | |||||
| (24,332) | (24,332) | |||||||
| TOTAL FUNDS | 336,191 | (346,791) | (10,600) |
| Net | |||||
|---|---|---|---|---|---|
| movement | At | ||||
| At 1.1.21 | in funds | 31.12.21 | |||
| f | f | f | |||
| Unrestricted | funds | ||||
| General fund | 117,736 | 1,653 | 119,389 | ||
| Restricted funds | |||||
| Building fund | 797,840 | (29,258) | 768,582 | ||
| Gordon Tuck | Fund | 1,685 | 2,160 | 3,845 | |
| 799,525 | (27,098) | 772,427 | |||
| TOTAL FUNDS | 917,261 | (25,445) | 891,816 | ||
| Comparative | net movement | in funds, included | in the above are as follows: | ||
| Incoming | Resources | Movement | |||
| resources | expended | in funds | |||
| f | f | f | |||
| Unrestricted | funds | ||||
| General fund | 298,803 | (297,150) | 1,653 | ||
| Restricted funds | |||||
| Building fund | 120 | (29,378) | (29,258) | ||
| Gordon Tuck | Fund | 2,410 | (250) | 2,160 | |
| 2,530 | (29,628) | (27,098) | |||
| TOTAL FUNDS | 301,333 | (326,778) | (25,445) |