2021-03-31-accounts

tatutory Information
Charity Name	Winchester Baptist Church
Principal Address	Swan Lane
	Winchester
	Hampshire
	SO23 7AA
Charity RegistrationNumber	1130292
Charity Trustees	Mrs C Bartlett
	MrG Bartlett
	MrEBest (Treasurer)
	MrM Dickinson (Minister)
	MrsKHarfield - steppeddownasof16May2020
	MrP Howes - steppeddownasof24 January2021
	Mrs J Jones
	MrGLockhart (Secretary)
	Mrs M Pickett - steppeddownasof20 September 2020
	MrsKPlant - electedasof21March2021
	MrS Riddle - elected asof21March2021
Property Trustees	The Baptist Union Corporation Limited
	Baptist House
	129 Broadway
	Didcot
	Oxfordshire
	OX118RT

	TotalFunds	2020	2020	£	£		132,142	132,142		28,148	28,148		1,106	1,106	1,106		11,279	11,279		32,664	32,664	32,664		99,216		304,555	526,456	526,456	526,456	(221,901)	(221,901)	(221,901)	(1,028)	(1,028)	1,205	1,205	(221.n4)	2.244,799	2,023.075
	TotalFunds	2021			£		147,340			31,950				243			2,123				26,786			40,163		248,605	226,463		226,463	22,142	22,142		(851)		11,988		33,279	2,023,075	2,056,354
	Restricted		Funds		£																	26,786		40,163		66,949		62,037	62,037	4,911		4,911					4,911	1,954,174	1,959.085
	Designated		Funds		£																							3,308	3,308	(3,308)		(3,308)					(3,308)	5,858	2,550
	Unrestricted Funds				£			147,340			31,950				243			2,123								181,658		161,118	161,118	20,538		20,538		(851)		11,988	31,675	63,043	94,718
StatementofFlnanclalActivitiesfortheyearended31March2021		Notes				Incomeand expenditure	Incomingresources		Personal giving			TaxrecoveredonGift Aid				BankandBuilding Society Interest			Premiseshireandsundry income				Restricted giving - missions and donations		Restricted giving - other TotalIncomingresources		Resources expended	Directcharitiable expenditure 2	Expenditure from Organisationsandevents TotalResourcesexpended	Net Income/(Expenditure)forthe year	Transfer between funds		Other recognised movements	Pension deficiencyinterest cost 11		Actuarialchangetobalance sheet liability 11	Net movement In Funds	Balances broughtforwardat1stApril 2020	Balances carriedforwardat31st March 2021 8, 9 & 10	There werenoother recognised gainsandlosses

NotestotheStatementofFlnanclalActivitiesforthe yearended31st March2021	1 Accountingpollclea	a BaalsofPreparation	The financial statements have beenpreparedunder the historical cost conventionv,AthItems recognised at costortransaction value unlessotherv,nsestated intherelevant notes to these	accounts.Thefinancial statements havebeenpreparedInaccordancev,nththe StatementofRecommendedPractice: Accounting andReportingby Charities preparing their accounts in	accordancev,nththe Flnancial Reporting Standard applicableIntheUKandRepublicofIreland(FRS102)issued on 16 July2014andtheCharities Act2011.	b Donations	Donations are accounted for grosswhenreceived.	c InvestmentIncome	Investment Income Is Included In the accounts in the yearInwhichitIsreceivable.	d FundRaising andPublicityCoats	Thechurch does not make formalappeals for funds,andexpenditure on these Items Is therefore not material.	a Grants/DonationsPayable	The churchmakes grants to other organisations whose charitable objects complement itswork. They are accounted forInthe yearInwhich they areapproved.	f GovamanceCosta	This represents direct expenditureonthe governanceofthe church. Mostofthe management is carried outv,nthoutcharge by volunteers.This intangible cost is not included in the	StatementofFinancial Activities since there Is no measurable cost tothevolunteers for this service.	g FlxedAaseta	Thechurch premises areIncluded In the balance sheet at insurance value at 31stMarch2008 because reliable cost information is not available,andvaluation would incur significant costs	which would be onerous comparedv,nththe additional benefit gainedbythe useroftheAccounts.	The manse premises are stated atcost.

Accounting pollclaa (continued)	Depreciation	Depreciationhas notbeenchargedonthechurchor mansepremises,becauseIn the opinion of the Trustees,theresidualvalue of the asset is not less thanthe originalcost price.	Allexpenditure, except for majorexpenditureonproperty,Ischargedas directcharitableexpenditureIn the yearwhichiiIs Incurred, andIsnotcapitlalsed.	Allexpenditure, except for majorexpenditureonproperty,Ischargedas directcharitableexpenditureIn the yearwhichiiIs Incurred, andIsnotcapitlalsed.	DirectCharitable Expenditure	DirectCharitable Expenditure	Unrestricted Designated Funds Funds Restricted Funds Total Funds 2021 TotalFunds 2020	£ £ £ £ £	StaffCosts: Ministerandmanse 43,182 43,182 43,312 Churchadministrator 13,166 13,166 13,232 Mission toSeniors 14,645 14,645 14,747 Children'sworker 14,645 14,645 14,737 Youth worker 13,145 13,145 13,210 Bookkeeper 6,760 6,760 7,571	Caretaker_I_Cleaner	Caretaker_I_Cleaner	Total staff costs(seeNote3below) 105,543 105,543 106,809	Total staff costs(seeNote3below) 105,543 105,543 106,809	OtherCosts:	Baptistchurchpremisesexpenditure 15,058 3,206 36,474 54,739 349,444	Baptistchurchpremisesexpenditure 15,058 3,206 36,474 54,739 349,444	Managementandadministrationcosts 8,824 8,824 8,244	Youthandchildren 520 102 621 2,710	Outreach 371 371 1,727	MusicandPA equipment 1,015 1,015 1,198	MinistryTraining (65) (65) 358	Other ministryandactivities 1,973 1,973 1,068	Missionsanddonations(seeNote4below) 27,878 25,563 53,441 54,898	---	161,118 3,308 62,037 226,463 526,456
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WINCHESTERBAPTISTCHURCH	5 TanglbleFixedAaseta Church Manse Total	£ £ £	Cost At1April2020and31March2021 1,789,996 150,000 1,939,996	Allassetsareusedfordirect charitable purposes andarefreehold. ThechurchIsthebeneficialownerofthe above tangible fixed assets, the legal title to whichIsheldbythe Baptist Union Corporation,thechurch's holding trustee. Theuseoftheproceeds fromanyfuture safeoftheseassetsIs restrictedtoacquiring sfmllar assetsandwould requiretheconsent and agreementofthe holding trustees. Inthe event thatthechurch Is pennanently closed the proceedsofsale wouldbetransferredtotheBaptist Union Corporation Building Fund. TheManseisstatedatoriginal cost.Inthe opinionofthe trusteesthevaluationIsnowin the regionof£525,000. 2021 2020	6 Debtors £ £	9,582 15,391	Accruedincome 3,721 6,327	Prepaymentsandotherdebtors -- 13,303 21,718	2021 2020	7 Cntdltors £ £	3,634 3,538	Othercreditors 22,661 24,230	Accruals -	26,295 27,768	8 Unrestricted Funds	Thesearerepresentedbynetassetsafterallowingfordesignatedandrestricted funds.	12

9 DesignatedFunds Balance et Movement in resources Balance at	1 April 2020 Incoming Outgoing 31Marcil 2021 £ £ £ £	Productionofmission resources to seniors 1,845 1,845 Workingwith cillldren end families 807 102 705 Building fund 3,206 3,206	-- 5,858 3.308 2,550	A legacy received has been setasidetoproduce mission resources to seniors. A donation was receivedinmemoryofa former member who had a particular concernfor cilildren end families.	10 Restricted Funds Balance at Movement In resources Balanceat	1 April 2020 Incoming Outgoing 31March 2021 £ £ £ £	Fixednaetfunds: Churcil premises 1,789,996 1,789,996 Manse (seniorminister) 150,000 150,000	Other funds: Mission & Donations 14,178 14,178 Future Projects 12,700 9,012 3,688 Buildingfw,d 10,588 10,588	1,954,174 23,288 19,599 1,957,862	11 Pensions	TheChurchisanemployer participating In a pension scileme: the Baptist Pension Scheme ("the Scheme; . The Scileme Is a separate legal entity whicilisadministeredbythe Pension	Trustee (Baptist Pension Trust Limited).	Foranymonth, eacil participating employer In the Scileme pays contributionsassetoutIn the ScileduleofContributions In force at thattime.

11 Pensions(continued)	The ministerandsome membersofstaff are eligible to join the Scheme.	Since January 2012, pension provision hasbeenmade through the Defined Contribution (DC)PlanwithintheScheme. In general, members pay8%oftheir Pensionable Income and	employers pey6%ofmembers' Pensi'onable Income IntoJndlvlcluelpension accounts.Inaddition, the employer pays a further4%(or3%ifthe employer isInthe segregated DC section) of	Pensionable Income to cover Death In Service Benefits, administration costs,enden associated Insurance policy which provides Income protection for Scheme membersintheevent that	they are unable to work due to long-tenn Incapacity. This Income protection policy hasbeenInsured by the Baptist Union of Great Britain with Aviva. Membersofthe Basic Section pay	reduced contributionsof5%ofPensionable Income,endtheir employers also pay a totalof5%.	BenefitsInrespectofservice prior to 1 January 2012 are providedthroughthe Defined Benefit(OB)Plan within the Scheme. The main benefits for pre-2012 service were a defined benefit	pensionofone eightiethofFinal Minimum Pensionable Income foreachyearofPensionable Service, together withanadditional pension in respectofpremiums paid on Pensionable Income	InexcessofMinimum Pensionable Income. The Scheme, previouslyknownastheBaptist Ministers' Pension Fund, startedIn1925, but wasdosedtoMureaccrualofdefined benefits on	31December 2011.	A formal valuationoftheDefined Benefrt (DB) Planwasperformed at31December 2019 by a professionally qualified Actuary usingtheprojected UnitMethod.Themarket valueofthe DB	Plan assets et the valuation datewas£298million.	The valuationoftheOBPlan revealed a deficitofassets comparedwiththevaluationofliabilitiesof£18million (equivalent to a past service funding levelof94%).Asa resultofthe	valuation,Inaddition to the contributions to theDCPlanset out above,Itwasagreedthatthestandard rateofdeficiency contributions from churchesandother emloyers involved intheDB	Plan wlll remainalpreviously agreed levels, Increasing each yearInllne with IncreasesInthe Minimum Pensionable Income.Thedeficiency contributions are broadly based on 12%of	Pensionable Income/ Minimum Pensionable Income, reflecting each employer's contributionsInMarch2015. Some Employers that were involved in the DB Plan for a short period pay lower	contributions.TheTrusteeandtheCouncilagreeda50%reduction for all deficiency contributions payable between 1 July 2020 to31December 2020. Inadcfrtlon,theBaptist UnionofGreat	Britainagreedto contnbute a lump sumof£0.5mby31December 2020.Thecurrent Recovery Plan dated 30 September 2020 envisages deficiency contributions continuing until 30 June	2026.	Thekey financial assumptions underlying the valuation were as follows:	Typeof financialaaaumptlon %pa	RPIprice Inflation assumption 3.20%	CPIprice Inflation assumption 2.70%	Mlnlmum Pensionable Income Increases	(CPI plus 0.75%pa) 3.20%	Assumed i'nvestment returns	- Pre-retirement 2.95%	• Post-retirement 1.70%	Deferred pension Increases	• Pre April 2009 3.20%	• Post April 2009 2.50%	Pension Increases 2.70%	14

Pensions (continued)	Pensions (continued)	Recovery Plan	In additiontothecontributlons totheDCPlan setoutabove,where a valuelionoftheDCPlan reveals a deficit the Trustees end the Council agree a rateofdeficiency contributions from	In additiontothecontributlons totheDCPlan setoutabove,where a valuelionoftheDCPlan reveals a deficit the Trustees end the Council agree a rateofdeficiency contributions from	churches andotheremployers Involved In the DB Plan.	Underthecurrent Recovery Plan, deficiency contributionsarepayable until30June 2026. These contributions are broadly basedonthe employer's membershipat31December 2014 and	Increase annually In line with Increases to Minimum Pensionable Incomeasdefined In the rules.	ThenextaduarlalvaluationoftheDB Plan withintheScheme Isdueasat31December 2022.	MovementInBalance Sheet Uablllty	Sedion28.11AofFRS 102 requires agreed deficit recovery paymentstoberecognisedasa Ilabillty.	ThemovementIntheprovision Issetout Inthetable below.	2021 2020	£ £	Balancesheetliabilityat1 April 2020 40,404 45,056	Minus deficiency contributions paid (3,432) (4,475)	Interest cost (page 7) 851 1,028	Interest cost (page 7) 851 1,028	Remaining change to balance sheet llebllity (page 7) • (11,988) (1,205)	Balance sheet liabilityat31March 2021 25,835 40,404	• Comprises any changeinagreed deficit recovery plan and change In assumptions between year ends.	• Comprises any changeinagreed deficit recovery plan and change In assumptions between year ends.	Accountingdate 31March 2021 31March 2020 31March2019	Discount rate 0.9% 2.5% 2.4%	Future IncreasestoMinimum Pensionable Income 3.5% 3.5% 3.3%	AsthereIsa large numberofcontributing employers participatingInboth the BPS and the BUSPS, The Church is unable to Identify its shareoftheunderlying assets and liabilitiesofthe	scheme. Accordingly,duetothenatureoftheschemes, the profit end loss chargeforthe period represents the employer contributions payable. The total pension costforthe Church Is	£4,673(2020 £4,665) withinBPSand £1554 (2020 £1,551) within BUSPS.	£4,673(2020 £4,665) withinBPSand £1554 (2020 £1,551) within BUSPS.
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