## **Trustees Annual Report 2020-2021** 

1 Peter 5:7 Cast all your anxiety on him because he cares for you. 

This is the second review which has been written whist the effects of Covid-19 are still being felt on the way we worship together. As at the end of July 2021 it is expected that it will only be a few weeks before the majority off restrictions relating to us as a worshipping community will be removed. Whilst an exact roadmap as to how we will get back to worshipping in significant numbers is currently unknown it is acknowledged that as at the date of this report some are still feeling anxious about gathering again. In this time still beset by uncertainty it is good to remember the reality of the above bible verse and whatever views we hold about what the future will bring to remember that we are called by faith to simply cast our anxiety on the Lord and remember that whatever we face he cares for us. 

As part of last year’s review, it was noted that this past year would produce some challenges, and this has certainly been the case. Since restrictions have continued for much longer than anticipated this reality will persist into the coming year. It is not yet known what effect the past 15 months of restrictions will have had on individuals and any decision about when, or indeed if, they are likely to return to worship at MBC. It is, therefore, expected that it may be a significant period of time before all return to worship at church. 

The past year has seen us continuing both with our efforts to ‘livestream’ our Sunday morning services, provide the service on a CD to those who do not have an on-line presence, and continue to daily post prayers at 10 on Facebook. In addition to this a new weekly Bible Study using zoom was started and is proving popular. 

During this year, whilst much of our ‘normal’ youth and children’s work was not possible we have found several different ways of engaging with this age group ranging from on-line ‘Firestarters’ on Sundays to meeting outdoors in person during the summer months. This has included church family picnics in Blenheim Gardens when allowed. This has not only seen us stay connected with most of the families in church but also been a good way of connecting the generations at church. 

On a general note, it is, of course, to have been expected that many of our plans were put on hold for this year. For example, the Hub has not been able to open fully since the beginning of lockdown. However recent government changes to lockdown rules and regulations mean it is now possible to begin to put plans in place for re-opening within the near future.  However, since there has been a break in our being open, we have also taken the chance this represents to look again at how we might further integrate the work of the Hub into the church. As part of this we now hold weekly Monday morning prayers at the Hub not only praying for the work of the Hub but the wider community. 

The fact that we have been able to sustain some elements of the worship and outreach of church during this period is in no short measure due to the hard work of many wonderful individuals and to the dedication of an amazing group of trustees who have met diligently week by week to both lead church life and to commit to bringing it before the Lord in prayer. It is fitting that we record our thanks to all who have enabled the church to function during what are unprecedented times. 

It is also right that we given thanks to our awesome Lord who has, through what has been a unique year, been generous to us in all ways, including our finances. We pray that as you read through the rest of this report you will join us in praising the Lord and giving all the glory for what has been done by the Lord, and what is planned for the coming year. 

## **Plans for Future Periods** 

The priority for 2021 / 2022 remains as it was last year, to continue doing what we do well in being a welcoming church, to develop as disciples of Jesus and to reach out to our community. As we begin to develop our discipleship programme, we will be looking at forming new ‘life groups’ and encourage those that have met during the past year as well as re-establishing some of the groups that met before lockdown 



but have not done since, 

It is expected that at some stage this year we will stop livestreaming and return to ‘in person’ worship although the speed with which we do this is, at present, unknown. 

Prior to lockdown it was agreed that we would look to establish a new 4 O’clock weekly service at the church Whilst the timing is not yet known it in expected that we will start this in the coming year. 

We will be looking to re-establish contact with Spring Harvest, as they have confirmed that they will be returning to Butlins in 2022, with a view to working together to bless our community. 

During Lockdown a number of individuals have been contemplating how God might be calling them to his service. It is expected that some of these exciting conversations will come to fruition in the coming year 

It is recognised that this coming period is likely to be one of change where more than ever we need together to seek the Lord, meaning that more than ever before we must simply follow him wherever he leads us this coming year. 

Paul McCabe 



Minehead Ba
tist Church
INDEPEIYDENT EXAMINER'S REPORT
INDEPENDEIYT EXAMINER'S REPORT TO THE TRUSTEES OF MINEHEAD BAPTlSiT
CHURCH
I report to the charity trustees on my examination of the accounts of the charity for thc year ended 31
July 2021 which are set out on pag￿ 6 to 10.
Res
ODsibiliti¢$ and basis of re
As the charity's trustees you are responsiblc for the preparation of the accounts in accordance with the
requirements of the Charities Act 2011 ('the Act.).
I report in respect of my ¢xamination of the charity's accounts carried out under scction 145 of the Act and
in carrying out my examination I have followed all the applicable Directions given by the Charity
Commission under section 145(5)(b) of the Act.
Jnde
endent examiner's stat¢m¢nt
I have completed my examination. I confirni that no material matlers have come to my attention in
onnection with the examinalion giving me cause to believe that in any mal¢Tial respect..
accounting records were not kept in respect of the charity as required by section 130 of the Act. or
2. the accounts do not accord with those records
I have no concerns and have come acTOSS no oiher matters in connection with the examination to which
attcntion should be drawn in this report in order to enable a Proper understanding of the accounts to be
reached.
K H D PRESTON FCA TEP
Chortercd Accountant
4 Imham Road
Minehead
Somerset
TA24 5DG
19 Novcmber 2021

Minehead Ba
istered Cbari
tist Church
Number 1130521
Recei
ts and Pa
ment5 Account for the
ear to 31 Jul 2021
GENERAL FUND
iknrefjtrlcted
fvnds
lund¥
Total funds Laat y•ar
Receipts
Donab"ons. legaues and grants
Spedal Pppeals
Intere5ton bank acD)un15
122.391
100
122.491
2.045
72
130.305
910
2.045
72
2.055
299
Fees for Mssion kb"%ib"88
2,055
7.366
26,247
7,027
12.079
É176,867
Insuran￿ claim
Totsl ¥¢￿Ipts
£ 131,884 È
2.145 È 134.029
Paynxn18
Wageslsalaries and n8tional insurance
Pension contribution5
80.795
80,795
8,625
6.920
92,472
5,572
8.152
11.4731
12,632
11,179
5.444
17,429
14,160
26,405
£191,972
8.625
6.920
Pension defiul contribub"on8
Rent
Repaits and maintenan
Rep3i1s and rnainlen8ntt- insured
Eqvipmenl repairs ?n¢J fenewals
Utilib'es and telephone
Church running costs
sslo
3,989
3.989
2.279
20.555
10.485
12.977
£ 146,626 £
227
20,555
10,485
2.180
15.157
2,180 £ 148,806
Totsl ￿Ymon￿
Net 91r￿p￿(p¥YM?n
Tr8nslws fvnds
Cash fund8 last y•ar •nd
Calh fund¥thl¥y?ar end
{14,7421
1351
{14,777)
{15,1041
13,3751
104,183
£85,704
85.704
£70,927
£70,604
£323
THE HUB PURCHASE FUND
R8thct•d
fund
Laul year
Recelpts
Oonab'ons
20.060
2,611
2.811
Sub totsl
Othèr
Loan from BaF4ist Builthng Fund
Totsl Tgcelpts
20.060
92.611
PayTrnnts
Loan repayThentto Bapllst Bullding Fund
Sub totsl
9,000
et and invostn*nt purchases
Thg Hub wrchase
2fJ),627
Total ￿Yments
NetofrecvlpW(p8ymentsJ
Tr8n8tsr from ser￿ra1 Fund
Cash funds lalt year end
Cath fvndsthlsyearend
£ ￿•.627
1108,0161
3.375
£ 109,963
5.322
5,322
16.382

Minehead Ba
tist Church
istered Chari
Iyumber 1130521
Stat¢ment of Ass¢ts and Liabili¢ic5 8t 31 Ju
2021
Unrestricted funds
Restricted funds
ASSETS
Cash funds
£70,927
£16,382
Other Monetary Assets
Gift Aid claimed but not received
£4.877
Assets retained for tbe charity's own use:
Minehead Baptist Church Building
I'he Manse occupied by the minister {30 Paganel Road, Minehead)
The Hub (Hopcott Road. Alcombe. Mineh¢ad).
All property is held as Custodian Trustee by the Baptist Union of Great Britain, with Minehead Baptist
Church acling as the ManagtnB Trust¢¢.
LIABILITIES
Fund io which liabilit
rclatcs
Amount due
Crcditors (World Mission Giving)
Unrestricted
£3,625
Pension Fund Defi¢it
Unre5tricied
£65,130
Thc Hub purchase loan
Restricted
£81.000
The Accounts and Statement of A&sets and Liabilities set out on pages 6 & 7 relating to the ycar cnding 31
July 2021 are as approved by the'l n￿tee5 and signed on their behalf
Rev Paul McCab¢* Chair of Trustecs
Dalc: 16 November 2021

Minehead Ba
tist Church
stered Chari
Number 1130521
Iyotes to the accounts a¢ 31 Jul 2021
l. Basis of accounts
'niese accounts have been prepared on a 'r￿cIPl3 and payments, basis and in accordance with Section
133 Charities Act 201
2. Donations? grants and olher income
2021
2020
7,451
89,759
3,060
15,413
3.300
9,914
Donations
OffeTings
Trurlough grant
Gift Aid
bor Minister in Training
Pastoral fund
SSL grant (restricted)
Other incom¢
Total Donations and Other Income
7,974
90,656
4.499
17.214
1.200
600
937
471
£122,491
471
£130,305
3. Mission
2021
12,535
585
165
73
1,308
491
£15,157
2020
12.357
1,620
432
4.886
3,704
3,406
£26,405
Missionlcharitable giving
Youth and Families
Outreach
Active Living Centr¢ running costs
I"he Hub running costs
MBC A¢tlVlty Groups running costs
Total Mi8510D
4. Assets Held for Ihe Chureh's own use
The church is the ￿neficial owner (subject lo the relevant trusts) of the following assets, the legal titlc to
which is held by the church's custodian trnstee [the Baplist Union CorEKJralion Ltdl-
Church premises at Parks Lane, Minehead. Somcrscl 'l'A24 811S, valued at £500,000 based on
estimated market value.
Church mansc al 30 Paganel Road, Minehead, Somerset. valud at £300,000 based on estimated
market value.
The Hub located at Hopcott Road, Alcombe, Minehead. Somerset. valu¢d at £200,000 based on
purchase price August 2019.

Minehead Ba
tist Church
istered Chari
Number 1130521
Iyoles to the accounls at 31 Jul 2021
5. Pension Sch¢m¢ Liabililics
The Church is an cmployer participating in a pension schemc known as th¢ Baptist Pension Scheme ("the
Scheme"). The Scheme is a separate legal entity which is athninistered by thc Pcnsion 'L'rustee (Baptist
Pension Trust Limited).
The Ministers and some members of the church staff are eligible lo join the Scheme.
Since January 2012, pension provision has been made through the Defined Contribution (DC) Plan within
the Scheme. In general. members pay 80/0 of their Pensionable Income and employers pay 60/0 of
m¢mbcrs' Pensionable Income into individual pension a￿ounts. In addition, the employer pays a further
4/0 of Pensionable Income (or 30/0 if the employer is in the segregated DC section) to cover Death in
Service Benefits, administration costs, and an associated insurance ￿lleY which provides income
protection for Scheme members in th¢ event that they are unable to work due to long-term incapacity.
"lThis income protection policy has been insured by the Baptist Union of Great Britain with Aviva.
Members of th¢ Basic Section pay reduced contributtons of 50/0 of Pensionable Income, and thcir
employers also pay a lolal of 50/0.
B¢n¢fits in respect of service prior to l January 2012 are provided through the Defined Benefit (DB) Plan
within ihe Scheme. The main benefits for pre-2012 setvice were a defincd benefit pension of one
eightieth of Pinal Minimum Pensionable Income for each year of Pensionable Servicc, togcther with
additional pension in respect of premiums paid on Pensionable Income in excess of Minimum
Pensionabl¢ Income. 'I'he Scheme, previously known as thc Baptist Ministers, Pension Trund, startcd in
1925, but was closed to future acc￿￿] of defined benefits on 31 December 2011.
A fonnal valuation of the Defined Benefit (DB) Plan was perfornied at 31 December 2016 by a
professionally qualified Actuary using the Projected Unit Mcih(x4. The market value of the DB Plan
assets at the valuation datc was £219 million.
The valuation of the DB Plan revealed a deficit of a$5cts compared with the value of liabilities of £93
million (equivalcnt to a past service fLmding level of 70 /0). As a result of thc valuation, in addition to the
contributions to the DC Plan sel out above, it was agreed that the standard rate of defi¢i¢n¢y contributions
from churches and other employers involvcd in the DB Plan will remain at previously agrecd levels,
increasing each year in line with increases in thc Minimuvn PeT]sionable Income. The deficicncy
contributions are broadly based on 12% of Pensionable Income l Minimum Pensionable Incomc,
reflecting each employer's contributions in March 2015. Some employers that weTe involved in the DB
Plan for a short period pay lower contributions. Under the current Recovery Plan dated l July 2020, the
Trustee and the Council agreed a 501/10 reduction for all deficiency contributions payable between l July
2020 to 31 December 2020.
In addition, the Baptist Union of Great Britain contributed a lump sum of £33m in 2018 with a fi￿her
£0.5m to follow, and changes to the Schcme benefits were agreed. The Recovery Plan cnvisages
deficiency contributions continuing until 31 Decembcr 2028.
The key financial assumptions underlying the valuation were as follows:
RPI price inflation assumption 3.500/0 pa
CPI price inflation assumption 2.750/0 pa
Minimum Pen5i0nable Income increases (CPI plus 0.75Q/tr pa) 3.5￿/0 pa

Minehead Ba
list Church
io
15tered Chari
Number 1130521
Notes lo the accounts al 31 Jul 2021
Pension Scheme Liabilities (¢ontinucd)
Assumed investment returns:
Pre-retirement 3.500/0 pa
Post retirement 2.250/0 pa
Deferred pension increase5
Pre April 2009 3.501 pa
- Post April 2009 2.50 l/bo pa
Pension increases
- Main Scheme pension Pre April 2006 2.700/0 pa
- Main Scheme pension Post April 2006 2.00% pa
As there is a large number of contributing employers participating in the Scheme. the Church is unable to
idcntify its share of the underlying assets and liabilities of the scheme. Accordingly, due to the nature of
the Scheme, the profit and loss charge for the period represents the employer contributions payable. The
total pension cost for the Church for the year ended 31 July 2021 was £6.920 (2020 £8,152).
Under the Schedule of Contributions, the church makes a monthly payment in respect of the DB schcme
deficit, currently £731.80. which will increase in line with increases in Minimum Pensionable Income.
The pension scheme liability shown in the Staiement of Assets and Liabilities is calculalcd as the current
rate per month multiplied by the nurn￿r of monihs remaining in the current Schedule of Conlributions,
which amounted to £65,130 as at 31" July 2021.
The Church has been advised that the ¢stimated cost for the church to buy out their Pension Scheme
liabilities at 31 July 2021 was £357,000.

Minehead Ba
tist Church
INDEPEIYDENT EXAMINER'S REPORT
INDEPENDEIYT EXAMINER'S REPORT TO THE TRUSTEES OF MINEHEAD BAPTlSiT
CHURCH
I report to the charity trustees on my examination of the accounts of the charity for thc year ended 31
July 2021 which are set out on pag￿ 6 to 10.
Res
ODsibiliti¢$ and basis of re
As the charity's trustees you are responsiblc for the preparation of the accounts in accordance with the
requirements of the Charities Act 2011 ('the Act.).
I report in respect of my ¢xamination of the charity's accounts carried out under scction 145 of the Act and
in carrying out my examination I have followed all the applicable Directions given by the Charity
Commission under section 145(5)(b) of the Act.
Jnde
endent examiner's stat¢m¢nt
I have completed my examination. I confirni that no material matlers have come to my attention in
onnection with the examinalion giving me cause to believe that in any mal¢Tial respect..
accounting records were not kept in respect of the charity as required by section 130 of the Act. or
2. the accounts do not accord with those records
I have no concerns and have come acTOSS no oiher matters in connection with the examination to which
attcntion should be drawn in this report in order to enable a Proper understanding of the accounts to be
reached.
K H D PRESTON FCA TEP
Chortercd Accountant
4 Imham Road
Minehead
Somerset
TA24 5DG
19 Novcmber 2021

Minehead Ba
istered Cbari
tist Church
Number 1130521
Recei
ts and Pa
ment5 Account for the
ear to 31 Jul 2021
GENERAL FUND
iknrefjtrlcted
fvnds
lund¥
Total funds Laat y•ar
Receipts
Donab"ons. legaues and grants
Spedal Pppeals
Intere5ton bank acD)un15
122.391
100
122.491
2.045
72
130.305
910
2.045
72
2.055
299
Fees for Mssion kb"%ib"88
2,055
7.366
26,247
7,027
12.079
É176,867
Insuran￿ claim
Totsl ¥¢￿Ipts
£ 131,884 È
2.145 È 134.029
Paynxn18
Wageslsalaries and n8tional insurance
Pension contribution5
80.795
80,795
8,625
6.920
92,472
5,572
8.152
11.4731
12,632
11,179
5.444
17,429
14,160
26,405
£191,972
8.625
6.920
Pension defiul contribub"on8
Rent
Repaits and maintenan
Rep3i1s and rnainlen8ntt- insured
Eqvipmenl repairs ?n¢J fenewals
Utilib'es and telephone
Church running costs
sslo
3,989
3.989
2.279
20.555
10.485
12.977
£ 146,626 £
227
20,555
10,485
2.180
15.157
2,180 £ 148,806
Totsl ￿Ymon￿
Net 91r￿p￿(p¥YM?n
Tr8nslws fvnds
Cash fund8 last y•ar •nd
Calh fund¥thl¥y?ar end
{14,7421
1351
{14,777)
{15,1041
13,3751
104,183
£85,704
85.704
£70,927
£70,604
£323
THE HUB PURCHASE FUND
R8thct•d
fund
Laul year
Recelpts
Oonab'ons
20.060
2,611
2.811
Sub totsl
Othèr
Loan from BaF4ist Builthng Fund
Totsl Tgcelpts
20.060
92.611
PayTrnnts
Loan repayThentto Bapllst Bullding Fund
Sub totsl
9,000
et and invostn*nt purchases
Thg Hub wrchase
2fJ),627
Total ￿Yments
NetofrecvlpW(p8ymentsJ
Tr8n8tsr from ser￿ra1 Fund
Cash funds lalt year end
Cath fvndsthlsyearend
£ ￿•.627
1108,0161
3.375
£ 109,963
5.322
5,322
16.382

Minehead Ba
tist Church
istered Chari
Iyumber 1130521
Stat¢ment of Ass¢ts and Liabili¢ic5 8t 31 Ju
2021
Unrestricted funds
Restricted funds
ASSETS
Cash funds
£70,927
£16,382
Other Monetary Assets
Gift Aid claimed but not received
£4.877
Assets retained for tbe charity's own use:
Minehead Baptist Church Building
I'he Manse occupied by the minister {30 Paganel Road, Minehead)
The Hub (Hopcott Road. Alcombe. Mineh¢ad).
All property is held as Custodian Trustee by the Baptist Union of Great Britain, with Minehead Baptist
Church acling as the ManagtnB Trust¢¢.
LIABILITIES
Fund io which liabilit
rclatcs
Amount due
Crcditors (World Mission Giving)
Unrestricted
£3,625
Pension Fund Defi¢it
Unre5tricied
£65,130
Thc Hub purchase loan
Restricted
£81.000
The Accounts and Statement of A&sets and Liabilities set out on pages 6 & 7 relating to the ycar cnding 31
July 2021 are as approved by the'l n￿tee5 and signed on their behalf
Rev Paul McCab¢* Chair of Trustecs
Dalc: 16 November 2021

Minehead Ba
tist Church
stered Chari
Number 1130521
Iyotes to the accounts a¢ 31 Jul 2021
l. Basis of accounts
'niese accounts have been prepared on a 'r￿cIPl3 and payments, basis and in accordance with Section
133 Charities Act 201
2. Donations? grants and olher income
2021
2020
7,451
89,759
3,060
15,413
3.300
9,914
Donations
OffeTings
Trurlough grant
Gift Aid
bor Minister in Training
Pastoral fund
SSL grant (restricted)
Other incom¢
Total Donations and Other Income
7,974
90,656
4.499
17.214
1.200
600
937
471
£122,491
471
£130,305
3. Mission
2021
12,535
585
165
73
1,308
491
£15,157
2020
12.357
1,620
432
4.886
3,704
3,406
£26,405
Missionlcharitable giving
Youth and Families
Outreach
Active Living Centr¢ running costs
I"he Hub running costs
MBC A¢tlVlty Groups running costs
Total Mi8510D
4. Assets Held for Ihe Chureh's own use
The church is the ￿neficial owner (subject lo the relevant trusts) of the following assets, the legal titlc to
which is held by the church's custodian trnstee [the Baplist Union CorEKJralion Ltdl-
Church premises at Parks Lane, Minehead. Somcrscl 'l'A24 811S, valued at £500,000 based on
estimated market value.
Church mansc al 30 Paganel Road, Minehead, Somerset. valud at £300,000 based on estimated
market value.
The Hub located at Hopcott Road, Alcombe, Minehead. Somerset. valu¢d at £200,000 based on
purchase price August 2019.

Minehead Ba
tist Church
istered Chari
Number 1130521
Iyoles to the accounls at 31 Jul 2021
5. Pension Sch¢m¢ Liabililics
The Church is an cmployer participating in a pension schemc known as th¢ Baptist Pension Scheme ("the
Scheme"). The Scheme is a separate legal entity which is athninistered by thc Pcnsion 'L'rustee (Baptist
Pension Trust Limited).
The Ministers and some members of the church staff are eligible lo join the Scheme.
Since January 2012, pension provision has been made through the Defined Contribution (DC) Plan within
the Scheme. In general. members pay 80/0 of their Pensionable Income and employers pay 60/0 of
m¢mbcrs' Pensionable Income into individual pension a￿ounts. In addition, the employer pays a further
4/0 of Pensionable Income (or 30/0 if the employer is in the segregated DC section) to cover Death in
Service Benefits, administration costs, and an associated insurance ￿lleY which provides income
protection for Scheme members in th¢ event that they are unable to work due to long-term incapacity.
"lThis income protection policy has been insured by the Baptist Union of Great Britain with Aviva.
Members of th¢ Basic Section pay reduced contributtons of 50/0 of Pensionable Income, and thcir
employers also pay a lolal of 50/0.
B¢n¢fits in respect of service prior to l January 2012 are provided through the Defined Benefit (DB) Plan
within ihe Scheme. The main benefits for pre-2012 setvice were a defincd benefit pension of one
eightieth of Pinal Minimum Pensionable Income for each year of Pensionable Servicc, togcther with
additional pension in respect of premiums paid on Pensionable Income in excess of Minimum
Pensionabl¢ Income. 'I'he Scheme, previously known as thc Baptist Ministers, Pension Trund, startcd in
1925, but was closed to future acc￿￿] of defined benefits on 31 December 2011.
A fonnal valuation of the Defined Benefit (DB) Plan was perfornied at 31 December 2016 by a
professionally qualified Actuary using the Projected Unit Mcih(x4. The market value of the DB Plan
assets at the valuation datc was £219 million.
The valuation of the DB Plan revealed a deficit of a$5cts compared with the value of liabilities of £93
million (equivalcnt to a past service fLmding level of 70 /0). As a result of thc valuation, in addition to the
contributions to the DC Plan sel out above, it was agreed that the standard rate of defi¢i¢n¢y contributions
from churches and other employers involvcd in the DB Plan will remain at previously agrecd levels,
increasing each year in line with increases in thc Minimuvn PeT]sionable Income. The deficicncy
contributions are broadly based on 12% of Pensionable Income l Minimum Pensionable Incomc,
reflecting each employer's contributions in March 2015. Some employers that weTe involved in the DB
Plan for a short period pay lower contributions. Under the current Recovery Plan dated l July 2020, the
Trustee and the Council agreed a 501/10 reduction for all deficiency contributions payable between l July
2020 to 31 December 2020.
In addition, the Baptist Union of Great Britain contributed a lump sum of £33m in 2018 with a fi￿her
£0.5m to follow, and changes to the Schcme benefits were agreed. The Recovery Plan cnvisages
deficiency contributions continuing until 31 Decembcr 2028.
The key financial assumptions underlying the valuation were as follows:
RPI price inflation assumption 3.500/0 pa
CPI price inflation assumption 2.750/0 pa
Minimum Pen5i0nable Income increases (CPI plus 0.75Q/tr pa) 3.5￿/0 pa

Minehead Ba
list Church
io
15tered Chari
Number 1130521
Notes lo the accounts al 31 Jul 2021
Pension Scheme Liabilities (¢ontinucd)
Assumed investment returns:
Pre-retirement 3.500/0 pa
Post retirement 2.250/0 pa
Deferred pension increase5
Pre April 2009 3.501 pa
- Post April 2009 2.50 l/bo pa
Pension increases
- Main Scheme pension Pre April 2006 2.700/0 pa
- Main Scheme pension Post April 2006 2.00% pa
As there is a large number of contributing employers participating in the Scheme. the Church is unable to
idcntify its share of the underlying assets and liabilities of the scheme. Accordingly, due to the nature of
the Scheme, the profit and loss charge for the period represents the employer contributions payable. The
total pension cost for the Church for the year ended 31 July 2021 was £6.920 (2020 £8,152).
Under the Schedule of Contributions, the church makes a monthly payment in respect of the DB schcme
deficit, currently £731.80. which will increase in line with increases in Minimum Pensionable Income.
The pension scheme liability shown in the Staiement of Assets and Liabilities is calculalcd as the current
rate per month multiplied by the nurn￿r of monihs remaining in the current Schedule of Conlributions,
which amounted to £65,130 as at 31" July 2021.
The Church has been advised that the ¢stimated cost for the church to buy out their Pension Scheme
liabilities at 31 July 2021 was £357,000.