## **Review of the Year** 

## **Proverbs 3:5-6 Trust in the Lord with all your heart and lean not on your own understanding; in all your ways submit to him, and he will make your paths straight** 

This is the first review for three years which has been written when were able to worship for some part of the year without Covid-19 restrictions. At the time of the last review, it was expected that restrictions relating to meeting as a worshipping community would be removed. In practice these restrictions were in force in some form or another for a considerably longer period that was originally expected. A significant part of the past year therefore saw services being held both on-line and in person. Although we were able to celebrate Christmas together without many restrictions additional constraints were reintroduced for January, although thankfully these were only for a short period of time. 

Once these were lifted fully, we decided to stop livestreaming our services and now post a recorded service later in the day. We took this decision in order to remove any part of the service before we post it to protect those children who attend should we need to. We also established a new church at 4 service reflecting a different style of worship to the main morning worship. 

We have, however, continued some of the activities started at the beginning of Covid restrictions. We will still continue to meet weekly for a zoom Bible study for the foreseeable future and post prayers on Facebook daily at 10 a.m. 

The Hub has been able to open without restriction and as part of this we made the decision to take payments by way of credit and debit cards. This has helped with those who are booking the Hub for parties and has also increased the average amount spent by a family when they visit the Hub. The work on how we more fully integrate the Hub and the work that goes on there of seeking to serve its community into the church is an ongoing initiative. Prior to his leaving to take us a new position at Lee Abbey Mark Scyner was volunteering and working at the Hub for a day a week to lead this effort. It is planned that once someone has been appointed to lead out youth and children’s work that they will help us in shaping this vision. 

Whilst we continued the summer family picnics in Blenheim Gardens begun during lockdown we were also able to recommence our youth and children’s work at the church this year. Both the Youth Club and Firestarters on Sundays have seen both returning and new people attending. No review of the year would be complete without acknowledging the work done with our youth and children by Mark Scyner. Mark left his role as a trustee and his employment at MBC at the end of July but during his time at MBC he has been both a source of stability for our youth and has modelled Christian love to them. It is true to say that Mark will be impossible to replace and that the work he has done has shaped the youth and children’s work at MBC forever. 

As lockdown restrictions were eased it became apparent that there were many people, particularly among the elderly, who were feeling lonely and needed help to engage once again in society. As a response to this Mark took up a new role as part of his responsibilities and opened the Oasis Café at MBC for 2 days a week where people might simply come and meet others over a cup of tea. This has proved very popular, and it is testimony to Mark’s hard work that this work has continued following his leaving. 

We have also formed new discipleship ‘life groups’ and more of the church than ever before are engaged in these weekly times of fellowship. These groups meet on various days, at various times and in various locations including some in the surrounding towns. 

Being able to return to some sense of ‘a new normality’, whatever that means, is only possible because of the hard work of the many individuals who give their time and effort in so many different ways and the dedication of an amazing group of trustees who have helped to guide the church through what has been another year of considerable change. It is fitting that we record our thanks to everyone involved at MBC. 



It is also right that we given thanks to our awesome Lord who continues to be 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** 

In one sense the priority for 2022 / 2023 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. 

Following Mark’s departure, we will be seeking to appoint someone to build on Mark’s work with our youth and children. 

Current economic circumstances mean that many face food and fuel poverty. We will be working with the local food cupboard and have joined a national warm welcome programme in order to assist with these issues. 

Contact with Spring Harvest has been re-established and we will be looking towards Easter 2023 wo see how we can work together to bless our community. 

Talks are ongoing with a number of individuals who are 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 will be another one of change. The statement made in last year’s review is therefore more pertinent than ever. We need together to seek the Lord and simply follow him wherever he leads us this coming year. 



Minebead Ba
tist Church
red Cbari
r 1130521
Amherst
Shapland
Limited
for the
ear ended
Chartered Accountants

Minehead Ba
tist Church
INDEPENDENr
'S REPOR
REPORT TO THE TRUST
F MINEHEAD BAPTIS
I report to the cl)arity tntstees on my examination of the accounts of the cl)atity for the year ended 31
July 2022 wbich are set out on pBges 6 to 10.
Res
nsibilitse8 and ba5i¥ of
A5 the charity's trustees you arc responsible for the preparation of th¢ accounts in accordance with the
requirements of the Charities Act 2011 ('the Act,).
I rep)rt in respect of my examI￿On of the charity's accounts carried out under section 145 of the Act and
in carrying out my exami￿On I have followed all the applicable DI￿tiOnS given by the Clwity
Con)mi&sion under section 145(5)Ib) of the Act.
Inde
endent ￿a￿Aller'S statement
I have completed my exami￿tion. I CODfiTm th* no material matters have come to my att¢ntion in
connection with the eXamI￿tion giving me cause to believe that in any material respect:
accounting records were not kept in Tespect of the charity as rcquircd by section 130 of the Act" or
2. the accounts do not a￿Ord with th08¢ records.
I have no concerns and have come across no other matters in connection with the eXaMi￿tiOn to which
attention should be drawn in this report in order tr> enable a prop¢r Understandi￿ of thc accounts to be
KHDPREST
Fc
Chartered Accountant
4 lrnbam Road
Minehead
Somerset
TA24 5DG
13 December 2022

Minehead Ba tist Church
8ts
hari
umber 113052
ANNUAL REPORT OF Minehead Ba tist Church
rto31
Administrative Information
Minchcad Baptist Church is part of the Baptist Union of Great Britain aDd the South West Baptist Association.
Pat*5 Lane
Somerset
TA24 8BS
Ru￿E￿
MJNISTEKS
Rev. Paul Mccabe
Richard Hall (Minister in Training from l February 2020)
MEMBER OFMLVISTERIAL TK4M
Mark Scyner (resi8ned 311712022)
ELECTED MEMBERS
(ELDERS)
Adam Ford (resi8n¢d 16 November 2021)
Margaret Hammel
Alec Prail
Martin Spink (r¢si8ned 10 September 2021)
Debby Ward
Pat Crispin (from 16 Nov¢mber 2021)
Luke Otpin (from 16 November 2021)
TRFASURER
Pauline W¢stcott
OUNT
Amherst & Shapland Limited
4 Irnbam Road
Somerset
TA24 5DG

Minehead Ba
ChAri
tist Church
Number 1130521
AL REPORT OF MINEHEAD BAIryIST CHURCH
31Ju
Min¢lud Baptist Churth IMBC) i% 8overn¢d by an Approved Governing Documcnl whith stst¢s that the principal
PUTPOS¢ of th¢ ¢harity is th¢ advan¢¢ment of the Christian Faith acwrdin8 to th¢ PTin¢ipl¢s of th¢ Baptist
dcnomination. The Church may a150 advanc¢ ¢ducation and Ca￿ other charitable purw)ses in the United
Kiti8d￿ll all&(r other parts of the ￿TId.
As a member of th¢ Baptist Union MBC sub*ibes to the Union's D￿j4[atIon of Principlc:
our knird and Saviour Jesus ChrisL (3od manifest in the is the sol¢ and abgjlute authority in all
matters pertsininB to faith and as revuled in the Holy Scriptw¢4 and has libety. under the
8uidan¢¢ of the Hoty Split to interpret and Tthinist¢r His laws.
That Christian BaFAism is thc immmion Ill water into the of the Father. the Son and Holy Gh05L of
those wbo havc pTofc58cd repentance tow4Tth God and faith in our Lord je￿ Christ WIM) •died for our sinj
a¢¢oTdin8 to th¢ &TiPtUTW was buried and rosc a8aiD on the third day..
That it 1$ th¢ duty of ¢v¢ry dis¢ipl¢ ￿ bev pers￿] witixss to the gospel of Jesus Ctris(4nd to tak¢ part in
the eV￿ge1]SatIOn of the world."
The tru8t¢e8 are aware of the Chuity Commission's 8uidanL% on publi¢ benefit iti Tr Advan¢¢m¢Dt of Religion for
th¢ Publi¢ B¢D¢fif and have regard to it in its athninistratiolb. The tTUSte¢s beli¢v¢ thaL by fvlfilling their
r¢sponsibility to work together with thc Minister WHI ¢wcrate in all mAtten of ¢oncern and imporlance for the
promotion of the whole mission of the Cknurc￿ pMstornL cvangelistic and 80cial. it pyovides a benefit to the publi¢ by:
Providing r¢souM ￿K1 ficilitiu for public WOT5hiF4 pastornl and spiritual, mornl and int¢ll¢¢tual
developmenl both for its m￿nbel8 thd f(Y anyon¢ wlK* wishes to iKnefit from w￿t th¢ Chur¢h offers; and
Promoting Christian valu4 and s¢rvi¢¢ by memb¢T3 of the chwch to th¢ community. to the benefit of
Individ￿13 and so¢1* as a whole.
ObJ¢¢¢lvM ActMIl
The trustees support the mAni*erfs) in FYomotin8 the ministy and mission of the church. The powers conferred on
th¢ trustees include the p)W¢T ¢0 4utr& mana8¢ and administer woFrty for church pury05C5 and the power to
framc an annual budget of monies r4uired for thur¢h work. The trustees are also given pM)wer. jointly with the
minist¢rfs% to appoint and dismiss ¢hur¢h slaff m¢mb¢rn determine their slltsries and oMditions of service.
The trustee$ 4v¢ ¢ommittgd to enablin8 as mw pwle •$ possibk to w￿rShiP * Min¢head Baptist chU￿h on
Sundays and to take part in midM¢¢k a¢tivits4 bibl¢ Stiyjies and ￿aYer rneetin8S.
In addition to numerous church 8rnup4 MBC also hu an Xtivc Girfs, Bri￿ and run5 The Hub - all of these
bein8 important PArts of the missiott of our chu￿h.
Revlew of the Y￿r
Proverbx 3:H Trnst ID th¢ Lonj wlth all your heart and leam n•t om yo•r ovrn •ndentandlDr* In all YOUT
ways 8ubmh to and he Ivill your pAthJ BtTxrybi
This is the first review for three years which been WTit*D th¢n ablc to worship for some part of the year
without Covid.19 restrictions. At th¢ time of the Jas¢ review, it exF*cted that r¢5tridions ￿l￿ting to meeting as a
Colisiderably lon8er peritid that was originally exFck¢L A significant part of thc past year therefore saw services
t¢ing held both on-litie and in p￿soll. Althwb we w¢r¢ able to ￿lebrate Christmas together without many
restricti0tt8 additional Constr￿ w¢r¢ reintr￿ fty January, althou8h than￿￿lY thes¢ wcre only for a short
p¢riod of lime.

Minehead Ba tist Church
ered Cbari
Number 113
521
Year to 31 J
2022
Once these were lifted fully. we decided to #op livestrea￿8 our sezvices and now post a re¢oTrkd S¢Tvice later in
the day. We took this decision in order to remov¢ any part of the service kfore we Nist it to protKt thos¢ child
WI￿ attend should we need to. We also established a n¢w churth at 4 service ￿ecting a different Style of W0￿biP to
the main mornin8 worsbip. We hav4 l￿weve1. conliDua som¢ of the activities started at thc b¢8iiuiin8 of Covid
strictions. We will still continue to meet weekly a z(Kxn Bibl¢ study for the foreseeable futurc and p05t pray¢rn
on Facebook daily at 10 ajn.
Th¢ Hub ha5 bKn abl¢ to OP¢D withThrt T￿trIc￿ and ￿ prt of Ihis VK made the de¢ision to tak¢ paym¢nts by way
of Gr￿lt and d¢bit cards. This has h¢lprd with those who s￿ bookin8 the Hub for pArties Ind also increased the
average amount spent by a fwni]y WI￿) they vistt thc Hub. The work on l￿W more fully inte￿e the Hub and
the work that goes on there of seeking to serve its c(Anmunity into th¢ church is ongoin8 initiative. Prior to his
ieavitig to ith us a D¢W Pxition at Ix AW MaTK Scyner volunteering and workin8 at th¢ Hub for a day
week to lead this efforL It is planned thftt once some(tt been appointed to l¢ad youth and ¢hiidr¢n'$ work
that tw will help us in shapiD8 thi$ vision.
Whi15t we continued the Sumn￿ family picnics in Bknhcim Gardcns iwun durin8 lockdown we were also able to
reoomm¢nc¢ our youth and children's work at the church this yw. Both th¢ Youth Club and FireslArters on Sundays
have seen both R¢urning and n¢w p¢opk attetMlin8. No t¢view of the year would be complete without
acknowledging th¢ Work done with our and children by Mark Scyner. Mark left his rolc as a tru5ttt and his
employment at MBC at th¢ ¢nd of July but during his tim¢ at MBC he has be￿ both a 8ourcc of stability for our
youth and has modelkd Christian love to them. It is Irue to say that Mark will be imws5ibk to and that th¢
work he has dcm¢ hAs shaped the youth 4md childrn's work at MBC fryev¢r.
As lockdown r¢strirt￿ wtre ¢ased it iwm¢ IPPAT¢nt that ther¢ w¢r¢ many p¢opl4 particularly amon8 the elderly.
who wcre feeling lonely and De¢ded h¢lp to ¢n8•8e once in soci&y. As a resp)nse lo this Mark took up a new
role as p•rt of hi5 resp(m￿]bIlItIeS and okxned the Oasis Café at MBC for 2 days a week whcr¢ p¢opl¢ mi8ht simpty
come me¢t oth¢r5 over a Cup of t￿ This has proved very popular. and it is t¢5timoDy to Mark's hard WOTk that
this work has co￿1n￿ed followin8 bis leavi
We hav¢ Also fornxd new di￿1p]eshiP 'lifr wups. and more of th¢ Chur¢h than ¢v¢r b¢foTe are eny8ed in thes¢
weekly times of frIIow5hip. Thue 8foupB meet on various at vari￿ times and in various locations includin8
80me in th¢ surnunding town&
Being able to rettwn to Some sense of 'a new nomMlity'. wh•tsver th•t m¢ffj& is only pomibk be¢aus¢ of th¢
work of the many individyals who give their time and effort in so many different ways and the dedication of an
amazing wjup of trustees who bav¢ helped to 8uidc thc chU￿h thr(w8h what been another year of considerable
cIwA8e. It 1$ fittin8 that we record our thanks to cv¢ryon¢ involved at MBC.
It is also rigbt thAt wc given thanks to our Lord wlh) ¢ontinu¢s to ￿ 8eDerous to us in all way4 includin8
our finances. We prny that a5 yK)u read thTOU8b Test of this reFM)rt you will join ys in prnisin8 the Imd and 8iving
l the 81ory for th has been done by the and ￿ is plffjn¢d th¢ COmiD8 y¢ar.
In one sen5¢ the priority fr 2022 12023 remai￿ as it Wa8 I￿1 year. to continue doing wI￿t we do w¢ll in b¢ing a
w¢lcomin8 churtty to d¢v¢lop as discipks of Jesug and to r¢acb to our t￿mMunIty.
Following Mark's will be 8¢ekin8 to ap￿]￿t som&Me to build on M•k'$ work with our youth alld
ildren.
CuTrent wAmomic Circumstan￿ mean that face focrfl and fiKI poverty. Wc will k working with the local food

Minehefid B2 tist Church
stcred Cbari
Iyumber 1130521
ANNUAL RE
F MIIYEHEAD BAvri
CHURCH
ear lo 31 Ju
2022
Contact with Spring Harvest has been re-esthblished and we will b¢ looking towards East¢r 2023 to s¢¢ how we can
work tO8cth¢r to bl¢88 our community.
Talks Ire on8oin8 with a numb¢r of individuals who contempJatin8 how God mi8ht b¢ calling th¢m to his
service. It is ¢xpected that some of th¢se exciting conversations will come to fruition in th¢ ¢oming year
It 18 reco8Dised that this coming period will be anoth¢r ODC of ¢han8¢. The statement made in last year's review Is
therefore more pertinent than ever. We need tO8ethw to seek the iAKd and simply ftillow him WI￿ever he leads us
this comin8 year.
tsmenl of the Leaderjhl Team'i Res
Th¢ L¢ad¢r8hip Team {In￿e¢s} are responsible for pr¢ptiTin8 th¢ annua] r¢port and the financial Statem￿ts '
accordance wlth applicabl¢ law And ￿gUlati1)n8.
Charity law requires the trnsteeg to prepare financial 5tatemettts for each financial year. Under that law the truste¢s
hAV¢ ¢l¢cted to prcparc financial statements in accordance with the United Kin8dom G¢nerAlly Ace¢pted Accounting
Practi￿ (Unitcd Kingdom Accountin8 Standard5 and applicablc law). Thc financial statements AT¢ f¢quiT¢d by law
to give a true and fair view of the stste of affairs of the charity and of its surplu5 or deficit for that period. Jn
pr¢parin8 these financial ststements the trustees are required to:
Select suitable accountin8 poli¢i¢$ and &n apply th¢m consistentIy:
Make judg¢m¢nts ¢stim•t¢$ that aye reasonable and pnJd¢n(
Stat¢ wh¢ther applicable UK Accounting Standards hAV¢ b¢¢n follow¢(L $ubj¢ct to any ma*riaJ depart
disc108cd and explained in th¢ financial statements.
The trustees are responsible for k¢¢pin8 proper ac￿unting records that diBcIo8e with Yea50nabl¢ accuracy at any time
th¢ financial position of thc Charity and enable it to cn8ure that that these financial statements comply with the
Ch8riti¢s A¢t 2011. It 1$ also r¢sponsible for saf¢8uardin8 the charitys assets aDd thkln8 reasonable steps for the
prev¢ntion and dete¢tion of fraud And other irregularitt¢s.
Memberd of th¢ ¢hurch are aCC¢pt￿ in a¢￿rdan￿ with the Governin8 DocumenL There were 115 Members as at 31
July 2022. Members, me¢tings nornially take pla￿ six times per year. Though the Governing Document permits
decisions to b¢ made at Memb¢rs' M¢etin8s by appropriate majoritie4 the Church seeks to work by consensus
wherever possible.
ID aC￿rdIDCC with the Governin8 DocumenL the members appoint TNst¢¢s (called Eld¢r5 or D¢aconsl who
together with the Minis*rls Church Secretary and Treasurer {who arc also TTUSte¢s Appointed by the M¢rnb¢r5X and
¢olleclively knowm as the Leadership Tea￿ ore resFK)nsibl¢ for the day-to-day rLumin8 of the church's work and
witness, and the finaDGial and le8al aspects of the charity.
This report for the year 31 July 2022 is as approved by the TNsl¢es on 15 November 2022
Truste¢ authorised to Si8n on i)ei￿lf of the Tntstees

Minehead Ba
Chari
tist Church
Iyumber 1130521
Recei ts Pa
ents
unt
rthe
ear to 31 Ju
GENE
Unrnarfctod R•fjtslctod
fund•
lund•
TolAI tsnd•
L•81 y•ar
Recelpts
Don￿on8. legade8 and grants
Spedal P•p•al•
Inknre•l on bank •co)unts
Fe08 fDrMs8lon
Hall hlrn
134021
134021
3395
141
122,491
2,045
72
3,395
141
22,501
9.724
£ 186,987 £
22,e501
9,724
3,395 £ 170,383
2.05S
7,386
£134,029
T¢Jlal v•c•lpl•
PasThnt8
lageJhalade8 ond nalton•l In•urnrtC•
Penjlon wntdbulon
91,085
9,978
8.857
2,913
800
23,659
11,902
23,472
£ 172,884 £
91,085
9.976
8P57
2.913
800
80,796
6.626
6.920
3.989
2.279
20.556
10,486
18,167
48,8
Pen•lon deffidl ￿n￿lbu￿onI
RO￿11% and rn•lnt•Mnce
Equlpm•ntrnp•lrn and r•n•wal•
Ulllllos and tsl•phon•
Church runnlng c¢8ts
23059
11,802
28M3
3,111 £ 178,774
Tot•1 p•ym•nl•
Pl•t of rnc•lpWlp•ym•n
Transfern belween fvnd•
C••h fvnd• laqt yo•r end
C••1 fvnd• th1• yo•r ond
(5,877)
(0,3921
70,804
£04,927
70,927
£06,638 £70,927
R84*rf¢téd
fvnd
L•qtyoar
R•￿Ipts
DonailonB
20.080
Total r•c•lpt•
£ 20,080
PasThnts
Loan r•p8sThent*> Baplol Bulldlng Fund
Total paymonla
N•t olrnc•lpW(p•ymenl¥
Trnnsfer from Gener81 FurKI
Cash lund8 laal yaargnd
Ca4h funds th18 yoar end
9,000
9,000
9,000
(8,940
16.382
5,322
16.382

MiDebead Ba tst Church
mber 1130521
sts
and Liabiliths at 31 J
202
SE
Cuh fund•
£64,927
£8,050
Other Monetary
Debtors
Gift Aid claimed but not reL%ived
£154
£5.760
Al￿ts relalned for the eharlty'i oivn n8
Mincl)ead Baptist Church BuildiD8
The Manse occupied by the minists (30 Paga￿1 Roa4 Minelkad)
The Hub (Hopcott Rorf AlCom￿ Minebe&l).
All property is held &8 Custodian Tnts by the Baptist Union of Great Briti1￿ with Minehead Baptist
CredltorB
£748
Credltorn (S￿1￿1 AppeAI)
£266
P¢D•ion Fund DefKk
£47
The Hub purdwe loan
£72.000
The Ar￿Unts and Stalemart of A&8cts and Liabilitics set out on pages 6 & 7 ￿latill￿ to the year ending 31
July 2022 are as approved by th¢ Trustees and signed on their bebalf
Rev Paul M¢Cabfy Chair of Truste
Date: 15 Nov¢mber 2022

Minehead Ba tist Chureb
tered Cbari
Iyumber I
521
Notss to
cco
at31Ju
2022
l. Basis of a¢eounts
Thes¢ accounts hav¢ b¢¢n prcpard on a 'receipts and payments. b&sis and in ac￿rdanCe with Section
133 Charitie5 Act 2011.
2. DoDatloDl• 8fADts and olb¢r In¢ome
2022
17J75
94?98
202
15.067
600
2021
7,974
90,656
4,499
17214
1200
600
348
£122891
Donations
Offerings
Furlou8h 8Tant
Gift Aid
For Minister in Training
Pastoral fund
Other income
Tot*1 DoDatloDi and Other IDeom¢
£134,621
3. Mh8loD
2022
15,856
1,172
931
2021
12.535
585
165
73
1,308
491
£1S157
Missionlcharitsble 8ivin8
Youth and Familie8
Outreach
Active Living Centre nllming costs
Th¢ Hub runDin8 costs
MBC Activity Group8 niiiniti8 Costs
Total Mls8lon
5,190
£26J83
4. A88ets Held for the Chur¢h*J ule
The church 13 the beneficial owner (subject to the relevant trusts) of the followin8 assets, the legal title to
which is held by the church'5 Custodian trustee [the Baptist Union Corporation Ltd]:
Chur¢h premises at Parks Lane. Minehead Somerset TA24 8BS. valued at £520.000 based on
estimated market value.
chU￿h mansc at 30 Pagan¢l Road. Mitiehea￿ Som¢rBeL valued at £375.000 ba8¢d on ¢stimated
market value.
The Hub located at Hopcott Rorf Alcombc. Mineherf SomerseL valued at £220.000 b&sed (
estimatcd market value.

Mfinehead Ba
tist Church
. t¢red Chari
r 1130521
I the aeeollnts at 31 Jul 20
Pen8fioD Seheme Lknbllltlej
The Church is an employer participating in a pension scheme knowD as th¢ Baptist Pension Scheme {*he
SthenK'). Th¢ S¢hcm¢ is a Kparatc Ic881 entity which is administered by the Pension Tn￿ (Baptist
Pension TnL4t Limited).
The Ministh and some members of the church staff are eligible to join the Scheme.
Since January 2012> pension provision h&$ been made through the Defined Contrlbution (DC) PlaD within
the Scheme. In general, membcrs pay 8Y¢ of their Pensionable tncome and employers pay 6Yo of
mcmbcr3' Pensionable Incornc into individu81 pension accounts. In addition, th¢ employer pays a fillther
4Yo of Pensionabl¢ Incom¢ (or 3Yo if th¢ employer is in the segregated DC section) to cover Death in
Suvirx Benefits, administration costy and an associaled insurance policy which provides income
protcction for Sehcme members in thc event that they are unable to work due to long-term incapacity.
This income protection p)li¢y has been insured by the Baptist Union of Great Britsin with Aviva.
Members of the Basic Section pay reduced contrlbutions of 50/0 of Pensionable Incom4 and th¢ir
employers also pay a totsl of S
Benefits in respect of service prior to l January 2012 are provAded through the Defined Benefit (DB) Plan
within the Scheme. The main benefits for pre-2012 service were a deflljed benefit pension of on¢
eigbtieth of Final Minimum Pensionable Income for each year of Pensionable ServicA tO8ether with
additional pension in ￿5p¢et of prctniums paid on Pensionable Income in excess of Minimum
Pensionable Income. The Schcmc. prevxously known as the Baptist Ministers. Pension Fun4 started iu
1925, but was closed to future accrual of defined benefits on 31 December 2011.
A fonnal valuation of the Ikfined B¢nefit (DB) Plan was perfornied at 31 December 2016 by a
professionally qua]ificd Actuary usin8 the Proj¢ct¢d Unit Mdhod. The market value of the DB Plan
assets at the valuation date was £219 million.
The valuation of the DB Plan revealed a defieit of a8￿ts compared with the value of liabilities of £93
million (equivalent to a past service funding level of 70Yo). As a result of the valuation, in addition to the
contributions to the DC Plan set out above. it was agreed that the standard rale of deficiency contributions
from churches and other ernployers involved in the DB Plan will remain at previously agreed levels,
increasing each year in line with in￿¢85e$ in the Minimum Pensionable tncome. The deficiency
contributions are broadly based on 120A of Pensionrablc Income l Minimum Pensionable Income.
reflecting eath employer's contributions in March 2015. Somc employers that We￿ involvcd in thc DB
Plan for a short period pay lower contributions. Under thc Recovery Plan dated l July 2020. the TTh￿tee
and thc Council agreed a 5(P/o reduction for all deficiency contributions payable between i J￿Y 2020 to
31 Dettmber 2020.
Jn addition. the Baptist Union of Great Britsin contributed a lump sum of £33m in 2018 with a further
£0.5rn to follow, and changes to the Scheme benefits were agreed. The Recovery Plan envisaged
deficiency Contributio￿ continuing until 31 December 2028.

Minehead Ba
tist Church
10
Chari
Nurnber 113052
Notes to the
2022
Pension Scherne Liabilities (continued)
As there is a large number of contributing employers particl￿1n8 in the Scheme, the Church is unable to
identify its share of the underlying assets and liabilities of the scheme. Accordingly, due to the nature of
the Scbeme. the profit and loss charge for the period r¢presents the employer contrlbutions payable. The
totsl pension cost for the Church for the yeaT ended 31 July 2022 was £8,857 (2021 £6,920).
Following the 'buy-in policy, agrcemcnt with the inSU￿e company Just Group to secure DB Plan
members. pension benefits. the Baptist Union and the Trustee agreed that deficit recovery contributions
from eacb participaling employer in the DB Plan will reduce to just £1 per month from August 2022
payment until June 2026. Currently, there is no plans to reinstate the requirement to pay fi￿] DRCS in the
firture but it cannot be rul¢d out at this stage. Participating employers retnain responsible for providing a
shar¢ of any additionaj funds that th¢ DB Plan may require in future. That is why the direct debit
deductions are maintsined at £1 per month for the time being.
A5 part of the agreement to reduce contributions in tbis way. tbe Baptist Union agreed to put £3 million
aside in an escrow xcount which could be used to provide additional funds to m￿t th¢ liabiliti¢s of the
Scheme if required.
The pension scheme ]iabi]ity shown in the Statement of Assets and Liabilities is calculated as the current
rate per month multiplied by the number of months renMI￿g in the cU￿ent Schedule of Contribution4
which amountcd to £47 as at 31" July 2022,
The Chuwh has bc¢n advised that the estim￿ cost for the church lo buy out their Pension Scheme
liabillties at 31 July 2022 was £256,000 (at 31 July 2021- £357,000).

Minebead Ba
tist Church
red Cbari
r 1130521
Amherst
Shapland
Limited
for the
ear ended
Chartered Accountants

Minehead Ba
tist Church
INDEPENDENr
'S REPOR
REPORT TO THE TRUST
F MINEHEAD BAPTIS
I report to the cl)arity tntstees on my examination of the accounts of the cl)atity for the year ended 31
July 2022 wbich are set out on pBges 6 to 10.
Res
nsibilitse8 and ba5i¥ of
A5 the charity's trustees you arc responsible for the preparation of th¢ accounts in accordance with the
requirements of the Charities Act 2011 ('the Act,).
I rep)rt in respect of my examI￿On of the charity's accounts carried out under section 145 of the Act and
in carrying out my exami￿On I have followed all the applicable DI￿tiOnS given by the Clwity
Con)mi&sion under section 145(5)Ib) of the Act.
Inde
endent ￿a￿Aller'S statement
I have completed my exami￿tion. I CODfiTm th* no material matters have come to my att¢ntion in
connection with the eXamI￿tion giving me cause to believe that in any material respect:
accounting records were not kept in Tespect of the charity as rcquircd by section 130 of the Act" or
2. the accounts do not a￿Ord with th08¢ records.
I have no concerns and have come across no other matters in connection with the eXaMi￿tiOn to which
attention should be drawn in this report in order tr> enable a prop¢r Understandi￿ of thc accounts to be
KHDPREST
Fc
Chartered Accountant
4 lrnbam Road
Minehead
Somerset
TA24 5DG
13 December 2022

Minehead Ba tist Church
8ts
hari
umber 113052
ANNUAL REPORT OF Minehead Ba tist Church
rto31
Administrative Information
Minchcad Baptist Church is part of the Baptist Union of Great Britain aDd the South West Baptist Association.
Pat*5 Lane
Somerset
TA24 8BS
Ru￿E￿
MJNISTEKS
Rev. Paul Mccabe
Richard Hall (Minister in Training from l February 2020)
MEMBER OFMLVISTERIAL TK4M
Mark Scyner (resi8ned 311712022)
ELECTED MEMBERS
(ELDERS)
Adam Ford (resi8n¢d 16 November 2021)
Margaret Hammel
Alec Prail
Martin Spink (r¢si8ned 10 September 2021)
Debby Ward
Pat Crispin (from 16 Nov¢mber 2021)
Luke Otpin (from 16 November 2021)
TRFASURER
Pauline W¢stcott
OUNT
Amherst & Shapland Limited
4 Irnbam Road
Somerset
TA24 5DG

Minehead Ba
ChAri
tist Church
Number 1130521
AL REPORT OF MINEHEAD BAIryIST CHURCH
31Ju
Min¢lud Baptist Churth IMBC) i% 8overn¢d by an Approved Governing Documcnl whith stst¢s that the principal
PUTPOS¢ of th¢ ¢harity is th¢ advan¢¢ment of the Christian Faith acwrdin8 to th¢ PTin¢ipl¢s of th¢ Baptist
dcnomination. The Church may a150 advanc¢ ¢ducation and Ca￿ other charitable purw)ses in the United
Kiti8d￿ll all&(r other parts of the ￿TId.
As a member of th¢ Baptist Union MBC sub*ibes to the Union's D￿j4[atIon of Principlc:
our knird and Saviour Jesus ChrisL (3od manifest in the is the sol¢ and abgjlute authority in all
matters pertsininB to faith and as revuled in the Holy Scriptw¢4 and has libety. under the
8uidan¢¢ of the Hoty Split to interpret and Tthinist¢r His laws.
That Christian BaFAism is thc immmion Ill water into the of the Father. the Son and Holy Gh05L of
those wbo havc pTofc58cd repentance tow4Tth God and faith in our Lord je￿ Christ WIM) •died for our sinj
a¢¢oTdin8 to th¢ &TiPtUTW was buried and rosc a8aiD on the third day..
That it 1$ th¢ duty of ¢v¢ry dis¢ipl¢ ￿ bev pers￿] witixss to the gospel of Jesus Ctris(4nd to tak¢ part in
the eV￿ge1]SatIOn of the world."
The tru8t¢e8 are aware of the Chuity Commission's 8uidanL% on publi¢ benefit iti Tr Advan¢¢m¢Dt of Religion for
th¢ Publi¢ B¢D¢fif and have regard to it in its athninistratiolb. The tTUSte¢s beli¢v¢ thaL by fvlfilling their
r¢sponsibility to work together with thc Minister WHI ¢wcrate in all mAtten of ¢oncern and imporlance for the
promotion of the whole mission of the Cknurc￿ pMstornL cvangelistic and 80cial. it pyovides a benefit to the publi¢ by:
Providing r¢souM ￿K1 ficilitiu for public WOT5hiF4 pastornl and spiritual, mornl and int¢ll¢¢tual
developmenl both for its m￿nbel8 thd f(Y anyon¢ wlK* wishes to iKnefit from w￿t th¢ Chur¢h offers; and
Promoting Christian valu4 and s¢rvi¢¢ by memb¢T3 of the chwch to th¢ community. to the benefit of
Individ￿13 and so¢1* as a whole.
ObJ¢¢¢lvM ActMIl
The trustees support the mAni*erfs) in FYomotin8 the ministy and mission of the church. The powers conferred on
th¢ trustees include the p)W¢T ¢0 4utr& mana8¢ and administer woFrty for church pury05C5 and the power to
framc an annual budget of monies r4uired for thur¢h work. The trustees are also given pM)wer. jointly with the
minist¢rfs% to appoint and dismiss ¢hur¢h slaff m¢mb¢rn determine their slltsries and oMditions of service.
The trustee$ 4v¢ ¢ommittgd to enablin8 as mw pwle •$ possibk to w￿rShiP * Min¢head Baptist chU￿h on
Sundays and to take part in midM¢¢k a¢tivits4 bibl¢ Stiyjies and ￿aYer rneetin8S.
In addition to numerous church 8rnup4 MBC also hu an Xtivc Girfs, Bri￿ and run5 The Hub - all of these
bein8 important PArts of the missiott of our chu￿h.
Revlew of the Y￿r
Proverbx 3:H Trnst ID th¢ Lonj wlth all your heart and leam n•t om yo•r ovrn •ndentandlDr* In all YOUT
ways 8ubmh to and he Ivill your pAthJ BtTxrybi
This is the first review for three years which been WTit*D th¢n ablc to worship for some part of the year
without Covid.19 restrictions. At th¢ time of the Jas¢ review, it exF*cted that r¢5tridions ￿l￿ting to meeting as a
Colisiderably lon8er peritid that was originally exFck¢L A significant part of thc past year therefore saw services
t¢ing held both on-litie and in p￿soll. Althwb we w¢r¢ able to ￿lebrate Christmas together without many
restricti0tt8 additional Constr￿ w¢r¢ reintr￿ fty January, althou8h than￿￿lY thes¢ wcre only for a short
p¢riod of lime.

Minehead Ba tist Church
ered Cbari
Number 113
521
Year to 31 J
2022
Once these were lifted fully. we decided to #op livestrea￿8 our sezvices and now post a re¢oTrkd S¢Tvice later in
the day. We took this decision in order to remov¢ any part of the service kfore we Nist it to protKt thos¢ child
WI￿ attend should we need to. We also established a n¢w churth at 4 service ￿ecting a different Style of W0￿biP to
the main mornin8 worsbip. We hav4 l￿weve1. conliDua som¢ of the activities started at thc b¢8iiuiin8 of Covid
strictions. We will still continue to meet weekly a z(Kxn Bibl¢ study for the foreseeable futurc and p05t pray¢rn
on Facebook daily at 10 ajn.
Th¢ Hub ha5 bKn abl¢ to OP¢D withThrt T￿trIc￿ and ￿ prt of Ihis VK made the de¢ision to tak¢ paym¢nts by way
of Gr￿lt and d¢bit cards. This has h¢lprd with those who s￿ bookin8 the Hub for pArties Ind also increased the
average amount spent by a fwni]y WI￿) they vistt thc Hub. The work on l￿W more fully inte￿e the Hub and
the work that goes on there of seeking to serve its c(Anmunity into th¢ church is ongoin8 initiative. Prior to his
ieavitig to ith us a D¢W Pxition at Ix AW MaTK Scyner volunteering and workin8 at th¢ Hub for a day
week to lead this efforL It is planned thftt once some(tt been appointed to l¢ad youth and ¢hiidr¢n'$ work
that tw will help us in shapiD8 thi$ vision.
Whi15t we continued the Sumn￿ family picnics in Bknhcim Gardcns iwun durin8 lockdown we were also able to
reoomm¢nc¢ our youth and children's work at the church this yw. Both th¢ Youth Club and FireslArters on Sundays
have seen both R¢urning and n¢w p¢opk attetMlin8. No t¢view of the year would be complete without
acknowledging th¢ Work done with our and children by Mark Scyner. Mark left his rolc as a tru5ttt and his
employment at MBC at th¢ ¢nd of July but during his tim¢ at MBC he has be￿ both a 8ourcc of stability for our
youth and has modelkd Christian love to them. It is Irue to say that Mark will be imws5ibk to and that th¢
work he has dcm¢ hAs shaped the youth 4md childrn's work at MBC fryev¢r.
As lockdown r¢strirt￿ wtre ¢ased it iwm¢ IPPAT¢nt that ther¢ w¢r¢ many p¢opl4 particularly amon8 the elderly.
who wcre feeling lonely and De¢ded h¢lp to ¢n8•8e once in soci&y. As a resp)nse lo this Mark took up a new
role as p•rt of hi5 resp(m￿]bIlItIeS and okxned the Oasis Café at MBC for 2 days a week whcr¢ p¢opl¢ mi8ht simpty
come me¢t oth¢r5 over a Cup of t￿ This has proved very popular. and it is t¢5timoDy to Mark's hard WOTk that
this work has co￿1n￿ed followin8 bis leavi
We hav¢ Also fornxd new di￿1p]eshiP 'lifr wups. and more of th¢ Chur¢h than ¢v¢r b¢foTe are eny8ed in thes¢
weekly times of frIIow5hip. Thue 8foupB meet on various at vari￿ times and in various locations includin8
80me in th¢ surnunding town&
Being able to rettwn to Some sense of 'a new nomMlity'. wh•tsver th•t m¢ffj& is only pomibk be¢aus¢ of th¢
work of the many individyals who give their time and effort in so many different ways and the dedication of an
amazing wjup of trustees who bav¢ helped to 8uidc thc chU￿h thr(w8h what been another year of considerable
cIwA8e. It 1$ fittin8 that we record our thanks to cv¢ryon¢ involved at MBC.
It is also rigbt thAt wc given thanks to our Lord wlh) ¢ontinu¢s to ￿ 8eDerous to us in all way4 includin8
our finances. We prny that a5 yK)u read thTOU8b Test of this reFM)rt you will join ys in prnisin8 the Imd and 8iving
l the 81ory for th has been done by the and ￿ is plffjn¢d th¢ COmiD8 y¢ar.
In one sen5¢ the priority fr 2022 12023 remai￿ as it Wa8 I￿1 year. to continue doing wI￿t we do w¢ll in b¢ing a
w¢lcomin8 churtty to d¢v¢lop as discipks of Jesug and to r¢acb to our t￿mMunIty.
Following Mark's will be 8¢ekin8 to ap￿]￿t som&Me to build on M•k'$ work with our youth alld
ildren.
CuTrent wAmomic Circumstan￿ mean that face focrfl and fiKI poverty. Wc will k working with the local food

Minehefid B2 tist Church
stcred Cbari
Iyumber 1130521
ANNUAL RE
F MIIYEHEAD BAvri
CHURCH
ear lo 31 Ju
2022
Contact with Spring Harvest has been re-esthblished and we will b¢ looking towards East¢r 2023 to s¢¢ how we can
work tO8cth¢r to bl¢88 our community.
Talks Ire on8oin8 with a numb¢r of individuals who contempJatin8 how God mi8ht b¢ calling th¢m to his
service. It is ¢xpected that some of th¢se exciting conversations will come to fruition in th¢ ¢oming year
It 18 reco8Dised that this coming period will be anoth¢r ODC of ¢han8¢. The statement made in last year's review Is
therefore more pertinent than ever. We need tO8ethw to seek the iAKd and simply ftillow him WI￿ever he leads us
this comin8 year.
tsmenl of the Leaderjhl Team'i Res
Th¢ L¢ad¢r8hip Team {In￿e¢s} are responsible for pr¢ptiTin8 th¢ annua] r¢port and the financial Statem￿ts '
accordance wlth applicabl¢ law And ￿gUlati1)n8.
Charity law requires the trnsteeg to prepare financial 5tatemettts for each financial year. Under that law the truste¢s
hAV¢ ¢l¢cted to prcparc financial statements in accordance with the United Kin8dom G¢nerAlly Ace¢pted Accounting
Practi￿ (Unitcd Kingdom Accountin8 Standard5 and applicablc law). Thc financial statements AT¢ f¢quiT¢d by law
to give a true and fair view of the stste of affairs of the charity and of its surplu5 or deficit for that period. Jn
pr¢parin8 these financial ststements the trustees are required to:
Select suitable accountin8 poli¢i¢$ and &n apply th¢m consistentIy:
Make judg¢m¢nts ¢stim•t¢$ that aye reasonable and pnJd¢n(
Stat¢ wh¢ther applicable UK Accounting Standards hAV¢ b¢¢n follow¢(L $ubj¢ct to any ma*riaJ depart
disc108cd and explained in th¢ financial statements.
The trustees are responsible for k¢¢pin8 proper ac￿unting records that diBcIo8e with Yea50nabl¢ accuracy at any time
th¢ financial position of thc Charity and enable it to cn8ure that that these financial statements comply with the
Ch8riti¢s A¢t 2011. It 1$ also r¢sponsible for saf¢8uardin8 the charitys assets aDd thkln8 reasonable steps for the
prev¢ntion and dete¢tion of fraud And other irregularitt¢s.
Memberd of th¢ ¢hurch are aCC¢pt￿ in a¢￿rdan￿ with the Governin8 DocumenL There were 115 Members as at 31
July 2022. Members, me¢tings nornially take pla￿ six times per year. Though the Governing Document permits
decisions to b¢ made at Memb¢rs' M¢etin8s by appropriate majoritie4 the Church seeks to work by consensus
wherever possible.
ID aC￿rdIDCC with the Governin8 DocumenL the members appoint TNst¢¢s (called Eld¢r5 or D¢aconsl who
together with the Minis*rls Church Secretary and Treasurer {who arc also TTUSte¢s Appointed by the M¢rnb¢r5X and
¢olleclively knowm as the Leadership Tea￿ ore resFK)nsibl¢ for the day-to-day rLumin8 of the church's work and
witness, and the finaDGial and le8al aspects of the charity.
This report for the year 31 July 2022 is as approved by the TNsl¢es on 15 November 2022
Truste¢ authorised to Si8n on i)ei￿lf of the Tntstees

Minehead Ba
Chari
tist Church
Iyumber 1130521
Recei ts Pa
ents
unt
rthe
ear to 31 Ju
GENE
Unrnarfctod R•fjtslctod
fund•
lund•
TolAI tsnd•
L•81 y•ar
Recelpts
Don￿on8. legade8 and grants
Spedal P•p•al•
Inknre•l on bank •co)unts
Fe08 fDrMs8lon
Hall hlrn
134021
134021
3395
141
122,491
2,045
72
3,395
141
22,501
9.724
£ 186,987 £
22,e501
9,724
3,395 £ 170,383
2.05S
7,386
£134,029
T¢Jlal v•c•lpl•
PasThnt8
lageJhalade8 ond nalton•l In•urnrtC•
Penjlon wntdbulon
91,085
9,978
8.857
2,913
800
23,659
11,902
23,472
£ 172,884 £
91,085
9.976
8P57
2.913
800
80,796
6.626
6.920
3.989
2.279
20.556
10,486
18,167
48,8
Pen•lon deffidl ￿n￿lbu￿onI
RO￿11% and rn•lnt•Mnce
Equlpm•ntrnp•lrn and r•n•wal•
Ulllllos and tsl•phon•
Church runnlng c¢8ts
23059
11,802
28M3
3,111 £ 178,774
Tot•1 p•ym•nl•
Pl•t of rnc•lpWlp•ym•n
Transfern belween fvnd•
C••h fvnd• laqt yo•r end
C••1 fvnd• th1• yo•r ond
(5,877)
(0,3921
70,804
£04,927
70,927
£06,638 £70,927
R84*rf¢téd
fvnd
L•qtyoar
R•￿Ipts
DonailonB
20.080
Total r•c•lpt•
£ 20,080
PasThnts
Loan r•p8sThent*> Baplol Bulldlng Fund
Total paymonla
N•t olrnc•lpW(p•ymenl¥
Trnnsfer from Gener81 FurKI
Cash lund8 laal yaargnd
Ca4h funds th18 yoar end
9,000
9,000
9,000
(8,940
16.382
5,322
16.382

MiDebead Ba tst Church
mber 1130521
sts
and Liabiliths at 31 J
202
SE
Cuh fund•
£64,927
£8,050
Other Monetary
Debtors
Gift Aid claimed but not reL%ived
£154
£5.760
Al￿ts relalned for the eharlty'i oivn n8
Mincl)ead Baptist Church BuildiD8
The Manse occupied by the minists (30 Paga￿1 Roa4 Minelkad)
The Hub (Hopcott Rorf AlCom￿ Minebe&l).
All property is held &8 Custodian Tnts by the Baptist Union of Great Briti1￿ with Minehead Baptist
CredltorB
£748
Credltorn (S￿1￿1 AppeAI)
£266
P¢D•ion Fund DefKk
£47
The Hub purdwe loan
£72.000
The Ar￿Unts and Stalemart of A&8cts and Liabilitics set out on pages 6 & 7 ￿latill￿ to the year ending 31
July 2022 are as approved by th¢ Trustees and signed on their bebalf
Rev Paul M¢Cabfy Chair of Truste
Date: 15 Nov¢mber 2022

Minehead Ba tist Chureb
tered Cbari
Iyumber I
521
Notss to
cco
at31Ju
2022
l. Basis of a¢eounts
Thes¢ accounts hav¢ b¢¢n prcpard on a 'receipts and payments. b&sis and in ac￿rdanCe with Section
133 Charitie5 Act 2011.
2. DoDatloDl• 8fADts and olb¢r In¢ome
2022
17J75
94?98
202
15.067
600
2021
7,974
90,656
4,499
17214
1200
600
348
£122891
Donations
Offerings
Furlou8h 8Tant
Gift Aid
For Minister in Training
Pastoral fund
Other income
Tot*1 DoDatloDi and Other IDeom¢
£134,621
3. Mh8loD
2022
15,856
1,172
931
2021
12.535
585
165
73
1,308
491
£1S157
Missionlcharitsble 8ivin8
Youth and Familie8
Outreach
Active Living Centre nllming costs
Th¢ Hub runDin8 costs
MBC Activity Group8 niiiniti8 Costs
Total Mls8lon
5,190
£26J83
4. A88ets Held for the Chur¢h*J ule
The church 13 the beneficial owner (subject to the relevant trusts) of the followin8 assets, the legal title to
which is held by the church'5 Custodian trustee [the Baptist Union Corporation Ltd]:
Chur¢h premises at Parks Lane. Minehead Somerset TA24 8BS. valued at £520.000 based on
estimated market value.
chU￿h mansc at 30 Pagan¢l Road. Mitiehea￿ Som¢rBeL valued at £375.000 ba8¢d on ¢stimated
market value.
The Hub located at Hopcott Rorf Alcombc. Mineherf SomerseL valued at £220.000 b&sed (
estimatcd market value.

Mfinehead Ba
tist Church
. t¢red Chari
r 1130521
I the aeeollnts at 31 Jul 20
Pen8fioD Seheme Lknbllltlej
The Church is an employer participating in a pension scheme knowD as th¢ Baptist Pension Scheme {*he
SthenK'). Th¢ S¢hcm¢ is a Kparatc Ic881 entity which is administered by the Pension Tn￿ (Baptist
Pension TnL4t Limited).
The Ministh and some members of the church staff are eligible to join the Scheme.
Since January 2012> pension provision h&$ been made through the Defined Contrlbution (DC) PlaD within
the Scheme. In general, membcrs pay 8Y¢ of their Pensionable tncome and employers pay 6Yo of
mcmbcr3' Pensionable Incornc into individu81 pension accounts. In addition, th¢ employer pays a fillther
4Yo of Pensionabl¢ Incom¢ (or 3Yo if th¢ employer is in the segregated DC section) to cover Death in
Suvirx Benefits, administration costy and an associaled insurance policy which provides income
protcction for Sehcme members in thc event that they are unable to work due to long-term incapacity.
This income protection p)li¢y has been insured by the Baptist Union of Great Britsin with Aviva.
Members of the Basic Section pay reduced contrlbutions of 50/0 of Pensionable Incom4 and th¢ir
employers also pay a totsl of S
Benefits in respect of service prior to l January 2012 are provAded through the Defined Benefit (DB) Plan
within the Scheme. The main benefits for pre-2012 service were a deflljed benefit pension of on¢
eigbtieth of Final Minimum Pensionable Income for each year of Pensionable ServicA tO8ether with
additional pension in ￿5p¢et of prctniums paid on Pensionable Income in excess of Minimum
Pensionable Income. The Schcmc. prevxously known as the Baptist Ministers. Pension Fun4 started iu
1925, but was closed to future accrual of defined benefits on 31 December 2011.
A fonnal valuation of the Ikfined B¢nefit (DB) Plan was perfornied at 31 December 2016 by a
professionally qua]ificd Actuary usin8 the Proj¢ct¢d Unit Mdhod. The market value of the DB Plan
assets at the valuation date was £219 million.
The valuation of the DB Plan revealed a defieit of a8￿ts compared with the value of liabilities of £93
million (equivalent to a past service funding level of 70Yo). As a result of the valuation, in addition to the
contributions to the DC Plan set out above. it was agreed that the standard rale of deficiency contributions
from churches and other ernployers involved in the DB Plan will remain at previously agreed levels,
increasing each year in line with in￿¢85e$ in the Minimum Pensionable tncome. The deficiency
contributions are broadly based on 120A of Pensionrablc Income l Minimum Pensionable Income.
reflecting eath employer's contributions in March 2015. Somc employers that We￿ involvcd in thc DB
Plan for a short period pay lower contributions. Under thc Recovery Plan dated l July 2020. the TTh￿tee
and thc Council agreed a 5(P/o reduction for all deficiency contributions payable between i J￿Y 2020 to
31 Dettmber 2020.
Jn addition. the Baptist Union of Great Britsin contributed a lump sum of £33m in 2018 with a further
£0.5rn to follow, and changes to the Scheme benefits were agreed. The Recovery Plan envisaged
deficiency Contributio￿ continuing until 31 December 2028.

Minehead Ba
tist Church
10
Chari
Nurnber 113052
Notes to the
2022
Pension Scherne Liabilities (continued)
As there is a large number of contributing employers particl￿1n8 in the Scheme, the Church is unable to
identify its share of the underlying assets and liabilities of the scheme. Accordingly, due to the nature of
the Scbeme. the profit and loss charge for the period r¢presents the employer contrlbutions payable. The
totsl pension cost for the Church for the yeaT ended 31 July 2022 was £8,857 (2021 £6,920).
Following the 'buy-in policy, agrcemcnt with the inSU￿e company Just Group to secure DB Plan
members. pension benefits. the Baptist Union and the Trustee agreed that deficit recovery contributions
from eacb participaling employer in the DB Plan will reduce to just £1 per month from August 2022
payment until June 2026. Currently, there is no plans to reinstate the requirement to pay fi￿] DRCS in the
firture but it cannot be rul¢d out at this stage. Participating employers retnain responsible for providing a
shar¢ of any additionaj funds that th¢ DB Plan may require in future. That is why the direct debit
deductions are maintsined at £1 per month for the time being.
A5 part of the agreement to reduce contributions in tbis way. tbe Baptist Union agreed to put £3 million
aside in an escrow xcount which could be used to provide additional funds to m￿t th¢ liabiliti¢s of the
Scheme if required.
The pension scheme ]iabi]ity shown in the Statement of Assets and Liabilities is calculated as the current
rate per month multiplied by the number of months renMI￿g in the cU￿ent Schedule of Contribution4
which amountcd to £47 as at 31" July 2022,
The Chuwh has bc¢n advised that the estim￿ cost for the church lo buy out their Pension Scheme
liabillties at 31 July 2022 was £256,000 (at 31 July 2021- £357,000).