## ## ## |**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||||Income**and expenditure**|Incoming**resources**||Personal giving|||TaxrecoveredonGift Aid||||BankandBuilding Society Interest|||Premiseshireandsundry income||||Restricted giving - missions and donations||Restricted giving - other
TotalIncoming**resources**||**Resources expended**|Directcharitiable expenditure
2|Expenditure from Organisationsandevents
Total**Resourcesexpended**|**Net Income/(Expenditure)**for**the 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| |NotestotheStatementofFlnanclal**Activities**for**the yearended31st March**2021|1
Accountingpollclea|a
**Baals**ofPreparation|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
**Investment**Income|Investment Income Is Included In the accounts in the yearInwhichitIsreceivable.|d
Fund**Raising and**PublicityCoats|Thechurch does not make formalappeals for funds,andexpenditure on these Items Is therefore not material.|**a**
**Grants/**Donations**Payable**|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 notbeen**charged**onthechurchor 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.|Direct**Charitable Expenditure**|Direct**Charitable 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|Missions**and**donations(seeNote**4**below)
27,878
25,563
**53,441**
54,898|---|161,118
3,308
62,037
**226,463**
526,456| |---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---| |**1**|h||||2||||||||||||||||||||| |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**
**Designated**Funds
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 set**aside**toproduce 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 setout**above,**where a valuelionoftheDCPlan reveals a deficit the Trustees end the Council agree a rateofdeficiency contributions from|In additiontothecontributlons totheDCPlan setout**above,**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.|**Movement**In**Balance 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.| |---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---| |11||||||||||||||||||||||||||||| ## ## ## ## ## ## I.CAEW. 1Th 21 ¥ 2021 17