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← Lincoln Baptist Church

2023-12-31-accounts

LINCOLN BAPTIST CHURCH

Lincoln Baptist Church – Registered Charity 1130524

Consolidated Accounts

For the year ending:

31[st] December 2023

(Including Notes and Subsidiary Accounts)

1

Independent Examiner’s Report

I report to the trustees on my examination of the accounts of the above charity, Lincoln Baptist Church for the year ended 31st December 2023 which are set out on pages 3 to 20.

Responsibilities and Basis of Report

As the charity trustees of the Lincoln Baptist Church, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011. The church’s trustees consider that an audit is not required for this year under section 144 of the Charities Act 2011 (the Charities Act) and that an independent examination is needed.

I report in respect of my examination of the Lincoln Baptist Church accounts carried out under section 145 of the 2011 Act and in carrying out my examination, I have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent Examiner’s Statement

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination which gives me cause to believe that in, any material respect:

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in order to enable a proper understanding of the accounts to be reached.

Ryan Rousseau MAAT AATQB

RFBS Accounting Ltd 22 Beechcroft Close South Hykeham Lincoln Lincolnshire LN6 9NB

Date: 23rd January 2024

2

Lincoln Baptist Church

The Trustees Report, the Consolidated Accounts and Notes relating to the year ending 31st December 2023 have been approved by the Leadership Team as Managing Trustees of the Church in compliance with the Statement of Recommended Accounting Practice. Further Subsidiary Accounts relate to the same year and are provided for the information of Church Members for their approval at the March Church Members meeting.

Mrs Marion Watson (Treasurer)

Dated: January 2024

Report of Trustees

Lincoln Baptist Church is governed under God by the Church Meeting, being those properly admitted members under the rules. It is affiliated to the Baptist Union of Great Britain and holds property under the ultimate trust of the East Midland Baptist Trust Company who permits the Church to manage their affairs locally. Further details are contained in:

Under these rules the Leadership Team including the Pastor act as Trustees of a Charity (Lincoln Baptist Church Reg 1130524 13[th] July 2009 and revised in 2017) and Managing Trustees of the property. They are now appointed and elected in accordance with the Governing Document.

The following leaders were elected during the last three years to serve on the Leadership Team alongside the Pastor: (when in post)

The Trusteeship Secretary of the East Midland Baptist Association is Mr Tim Chowns contactable at the Baptist House (see above).

Agents and Advisors Ryan Rousseau MAAT AATQB [RFBS Accounting Ltd] as Independent Examiner

Anthony Collins 134 Edmund Street, BIRMINGHAM B32ES

as Solicitors

Golding and Young Station Road, NORTH HYKEHAM

as Valuers in earlier years

Investment Powers

The Treasurer and other members of the leadership team manage the church's monies independently under the authority of the Church Meeting and are permitted to authorise capital expenditure (according to a schedule of authorities) for repairs, renewals, improvements, investments and loans. Matters concerning sale, lease or license of lands and buildings require consultation with our Ultimate Trustees.

3

Our Vision Statement is taken straight from the Great Commission. We are focused on seeing people become believers in Jesus, and then growing in their faith.

To make and grow disciples in Jesus

Alongside this sits our Mission Statement, based on Acts 2:42:

Lincoln Baptist Church is devoted to:

Public Benefit

As a charity, we also need to address the public benefit reporting requirements that now apply. This report concentrates on what the charity seeks to achieve, through the Vision Statement and the activities of the church in seeking to meet the needs of its members, friends and the wider community.

When planning our activities, the Leadership Team have considered the Charity Commission’s guidance on public benefit, and in particular the specific guidance on charities for the advancement of religion in particular. We try to enable ordinary people to live out their faith as part of the community through:

Activities

The Pastor, Church Secretary or other members of the Leadership Team normally preside over the main activities of the church which include:

The Church meeting and Leadership team delegate authority to others within the fellowship to lead the House groups and other activities.

4

Sunday church services continued in person alongside Leadership Team meetings and Church Members meetings. Monthly prayer meetings continued; weekly prayer meetings began and House Group meetings were also facilitated by Zoom or in person. Numbers on a Sunday morning have generally increased over the year. Fellowship meals have continued, with 80-100 in attendance each month.

We moved into a new chapter when our new pastor Daniel and Mallin Pollin joined us from March 2023.

Financial Affairs

Funds are raised in a variety of ways:

A lease agreement between Lincoln Baptist Church as the landlord, and Lincolnshire County Council (Children’s Services) as the tenant runs to June 2026. This permits use of the Abbey Suite of rooms at the church premises on Croft Street by the tenant each weekday from 8.30am – 5.00pm. Under the terms of the lease which was approved and countersigned by East Midlands Baptist Trust Co. Ltd as well as both parties, calculated utility costs, service charges (cleaning and waste), car parking and premises rent are now invoiced quarterly to the tenant, in advance, according to the terms of the lease.

Small amounts of cash (via a locked collection box in the building) coming into the main church fund are handled by the treasurer. An immediate BACS transfer is witnessed being made into the church general fund by a second member. All payments from the church general fund are managed by on-line BACS payments, debit card payment or other bank transactions.

The main costs of the church are: maintenance of the church building, heating and lighting, and administration; payroll included the salary of a part-time Media Assistant to the end of June 2023, a full time Pastor from March 2023 and a caretaker.

During 2023 improvements were made to the church building including:

The disbursement of funds beyond the church is equally varied:

5

All organisations and individuals who have received significant sums are listed in the accounts.

The Annual General Meeting at the end of 2000 agreed to permit temporary resort to overdraft in future years. Giving to outside causes from unrestricted funds can be reduced if income falls. All employees' contracts include a clause allowing termination within no more than nine months ensuring that the commitments of the organisation can be matched to its actual resources.

The Treasurer Mrs Marion Watson is assisted by Mr Malcolm Morton (Finance Administration). Church member Mr Malcolm Morton and Mrs Marion Watson (Treasurer) are signatories for the church bank accounts, with two required to authorise payments including on-line payments, using the agreed e-mail authorisation and internal audit processes. The Treasurer draws up a budget for approval at the November Church meeting (or at the next quorate Church meeting). This sets out the financial plan and objectives for the year, authorising the Treasurer, Leaders and other delegates.

The following group in the church undertake their own banking via current or savings accounts.

● FiSH – Mr Malcolm Morton

Any organisation with its own banking is required to have two signatories for transactions and to adhere to Rules for Church Organisations. These funds are reported in the following Accounts and consolidated into the Church Statement.

Income during 2023 slightly exceeded budget expectations as a result of a slight increase in giving and some specific gifts. Additional expenditure occurred as a result of significant payments made of a ‘caring’ or ‘missions’ nature; property maintenance and upgrade projects to the church building.

The financial performance is tracked during the year and reported on a regular basis by reports and notes circulated amongst the Leadership team and church members. A slight amendment was made to the finance policy as agreed by church members in November 2023 (highlighted below). Expenditure approval limits for general expenditure

  1. The treasurer may approve/action up to £250 spending within planned budget amounts each month, without requesting separate approval each time

  2. £250 to £500 jointly agreed between the Church Treasurer and one other member of the Leadership Team. Debit card payments shall not exceed £500 unless previously authorised by the Leadership Team.

  3. £501 to £5,000 Full Leadership team, majority decision

  4. Above £5,000 Church Members Meeting decision

Expenditure approval limits for fabrics expenditure

  1. Up to £250 Single payment level that can be approved by the fabrics sub-group leader or Church Secretary. For an emergency situation the Site Supervisor can make such a decision.

  2. Between £250 and £500 any proposed work or the cost of materials. can be agreed by fabrics sub-group leader or church secretary and Church Treasurer.

  3. £501 to £5,000 majority decision at full Leadership Team meeting.

  4. Above £5,000 decision at Church Members meeting. When an emergency situation arises, the Leadership Team may go above this upper amount without prior agreement of the Church Members Meeting, if a delay in acting may cause further damage or issues.

For general or fabric expenditure, two written quotes are required ordinarily for expenditure between £1,000 and £1,500. Three written quotes are required ordinarily for general or fabric expenditure over £1,500.

Annual Accounts are presented after Independent Examination to a meeting of Members each spring.

6

LINCOLN BAPTIST CHURCH

Consolidated Statement of Financial Activities For The Year Ended 31 December 2023

Note
INCOMING RESOURCES
Offerings
Legacies
Rental Income
Other Income
TOTAL INCOMING RESOURCES
RESOURCES USED
Staffing Salary and Expenses
Property Maintenance and Upkeep
Administrative Expenses		 General
Fund
Restricted
Funds
Total Funds
2023
Total
Funds
2022
£
£
£
£
95,314
-
95,314
83,184
-
-
-
12,500
31,533
-
31,533
30,523
18,179
-
18,179
17,817
145,026
-
145,026
144,024
39,940
-
39,940
21,547
50,161
-
50,161
38,580
8,143
-
8,143
6,721
7
Church Events and Projects
Outward Giving
TOTAL RESOURCES USED
NET INCOMING/(OUTGOING) RESOURCES
BALANCES BROUGHT FORWARD
TRANSFER BETWEEN FUNDS
BALANCES CARRIED FORWARD		 42,873
-
42,873
15,131
39,653
-
39,653
48,414
180,771
-
180,771
130,393
(35,745)
-
(35,745)
13,631
123,165
50,408
173,573
159,548
-
-
-
-
87,420
50,408
137,828
173,179

LINCOLN BAPTIST CHURCH

8

Balance Sheet as at 31 December 2023

Note
FIXED ASSETS
4
Tangible Fixed Assets
CURRENT ASSETS
Cash at bank and in hand
CURRENT LIABILITIES
Loans
Creditors & Advanced Receipts
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT LIABILITIES
FUNDS
Unrestricted Funds
Restricted Funds
Total Funds		 2023
£
£
1,562,098
137,828
137,828
-
-
-
137,828
1,699,926
535,845
1,164,081
1,699,926		 2022
£
£
1,195,910
173,179
173,179
-
-
-
173,179
1,369,089
205,008
1,164,081
1,369,089		 2022
£
£
1,195,910
173,179
173,179
-
-
-
173,179
1,369,089
205,008
1,164,081
1,369,089
137,828
-
-		 173,179
-
-
- -
1,369,089
205,008
1,164,081
1,369,089

9

LINCOLN BAPTIST CHURCH Notes To The Accounts For The Year Ended 31 December 2023

1. ACCOUNTING POLICIES

The accounts have been prepared in accordance with applicable Accounting Standards and the Charities SORP (Statements of Recommended Practice). The accounts have been prepared under the historical cost convention as modified by the revaluation of the Church land and buildings.

A. Funds

General funds represent the funds of the Church that are not subject to any restrictions regarding their use and are available for application on the general purposes of the Church. Funds designated for a particular purpose by the trustees are also unrestricted.

The accounts include all transactions, assets and liabilities for which the trustees are responsible in law. They do not include the accounts of church based groups that owe their main affiliation to another body nor those that are informal gatherings of Church members.

B. Incoming resources

Donations

Collections are recognised when received or certificated by or on behalf of the Church. Planned giving receivable under covenant is recognised only when received. Income tax recoverable on covenants or gift aid donations is recognised when the income is received. Grants and legacies are accounted for as soon as the Church is notified of its legal entitlement and the amount due.

Other income

Other income is accounted for when payment is received.

Income from investments

Dividends and interest are accounted for when receivable.

C. Fixed assets

The Church land and buildings

Church is regarded as a specialised building under the provisions of Financial Reporting Standard no. 15 and is valued on the basis of depreciated replacement cost. The trustees' best estimate of this value is the rebuilding costs for insurance purposes plus the market value of the land. The surplus over the original cost is credited to a revaluation reserve which is shown separately on the balance sheet. There are considerable practical difficulties in obtaining the precise measurement of the original cost of the land and buildings, not least due to the passage of time. The Treasurer and Finance team have made the most accurate assessment that is possible in the circumstances. The amount of the Church valuation transferred to the Capital Reserve, therefore, is the best estimate available.

Manse land and buildings

The manse is a non-specialised building and included in the accounts at valuation less accumulated depreciation. Depreciation is charged at the annual rate of 2% on cost. A new manse was purchased during 2023 at a cost of £345,000

10

Other fixtures, fittings and office equipment

Depreciation of equipment used within the church premises is on a ‘straight-line’ basis at the rate of 10% or 20% per annum according to the anticipated 5 or 10 year life of the asset. The register has been updated to reflect the situation at the end of 2023 and to include only those items with a purchase value of £500 or above.

2. EMPLOYEES' REMUNERATION

Total remuneration (all employees) for the year was £39,940

No employee earned £40,000 p.a. or more. The number of paid staff for the year was: 3

a) Pastor (full-time from March 2023) b) Media Assistant (part-time to June 2023)

c) Caretaker (part-time)

3. TRUSTEES REMUNERATION AND EXPENSES

The Pastor (when in post) is also a trustee of Lincoln Baptist Church. Remuneration (including salary, pension contributions and travel expenses) for the Pastor was £29,735 during 2023 which included just over £3,500 travel costs to and from Scotland until the manse purchase/move date was completed in June/July 2023

4. FIXED ASSETS - Tangible

LINCOLN BAPTIST CHURCH

4. FIXED ASSETS - TANGIBLE

Fixtures
and
Church Manse Equipment Total
Note £ £ £ £
COST OR VALUATION
At 1 January 2023 1,164,081 - 99,758 1,263,839
Additions - 345,000 28,451 373,451
Disposals - - - -
11
Revaluation
At 31 December 2023
DEPRECIATION
At 1 January 2023
Charge for the year
On Disposals
At 31 December 2023
NET BOOK VALUE
At 31 December 2023
At 1 January 2023		 -
-
-
1,164,081
345,000
128,209
1,637,290
-
-
61,297
61,297
-
-
13,896
13,896
-
-
-
-
-
-
75,193
75,193
1,164,081
345,000
53,016
1,562,097
1,164,081
-
38,461
1,202,542

12

Church Church Manse Fixtures and Equipment Total
COST OR VALUATION
At 1January2023 £1,164,081 £0 £99,758 £1,263,839
Additions £345,000 £28,451
Disposals
At 31 December 2023 £1,164,081 £345,000 £128,210 £1,637,291
DEPRECIATION
At 1January2023 £61,297 £61,297
Changefor theyear £13,896 £13,896
On disposal
At 31 December 2023 £75,193 £75,193
NET BOOK VALUE
At 31 December 2023 £1,164,081 £345,000 £53,017 £1,562,098
At 1January2023 £1,164,081 £0 £38,461 £1,202,542
Supplementary financial information
Ledger Reference Description 2023 Budget Actual Position
31.12.2023		 NOTES
INCOME COST CENTRE £ £
Opening Balance Current Account - Jan ‘23 £123,164.52 £123,164.52
Revenue - Offering Standing Orders, Loose Offering & Other Gifts £79,000.00 £95,313.73
Revenue - Gift Aid Recovery £18,000.00 £18,179.27
Revenue - Lettings £30,600.00 £31,532.95
TOTAL £250,764.52 £268,190.47

13

Ledger Reference Description 2023 Budget Actual Position
31.12.2023		 NOTES
STAFFING COST CENTRE £ £
Staffing - Ministerial Gross Pay £26,500.00 £26,234.41
Staffing - Ministerial Pensions Contributions £3,250.00 £0.00
Staffing - Media Staff Gross Pay £6,900.00 £7,329.18
Staffing - Media Staff Pensions Contributions £1,280.00 £1,275.00
Staffing - Caretaking £5,110.00 £5,101.20
TOTAL £43,040.00 £39,939.79
Ledger Reference Description 2023 Budget Actual Position
31.12.2023		 NOTES
PROPERTY COST CENTRE £ £
Manse - Insurance £600.00 £479.83
Manse - Council Tax, Water Rates. £3,500.00 £1,586.71
Manse - Maintenance Requirements & extra Purchase Costs £30,000.00 £14,746.21 Including some travel/moving costs as well as additions to complete purchase
Church - Insurances £4,000.00 £3,789.25
Church - Water £500.00 £254.00
Church - Electricity £5,000.00 £2,013.03
Church - Gas £5,000.00 £3,727.47
Church - Fire, Security, Health & Safety £3,000.00 £5,003.72
Church - Maintenance Requirements £20,000.00 £4,900.60
Church - Housekeeping Materials £1,500.00 £643.55

14

Church - Refuse Collection £2,000.00 £2,500.15
Church - Cleaning Contractors £10,600.00 £10,516.00
Manse - Insurance £600.00 £479.83
TOTAL £85,700.00 £50,160.52
Ledger Reference Description 2023 Budget Actual Position
31.12.2023		 NOTES
ADMINISTRATION COST CENTRE £ £
Admin - Mobile, Phone & Broadband £2,000.00 £674.62
Admin - Subscriptions & Licences £2,000.00 £2,030.73
Admin - Photocopier £600.00 £586.66
Admin - Misc. Admin incl Postage £650.00 £548.40
Admin - Auditors Fees £300.00 £300.00
Admin - Bank Charges £120.00 £93.35
Admin - Payroll Charges £120.00 £108.00
TOTAL £5,790.00 £4,341.76
Ledger Reference Description 2023 Budget Actual Position
31.12.2023		 NOTES
GLOBAL COMMUNITY COST CENTRE £ £
Global Community - Online Church £3,000.00 £3,801.59
TOTAL £3,000.00 £3,801.59
Ledger Reference Description 2023 Budget Actual Position
31.12.2023		 NOTES

15

GLOBAL ACTION & MISSIONS COST CENTRE £ £
Global Missions - BMS £4,200.00 £4,200.00
Global Missions - EMBA Home Mission £3,200.00 £3,200.00
Global Missions - NTM £3,000.00 £3,000.00
Global Missions - Individuals £10,000.00 £10,423.32
Global Action - Tearfund £3,000.00 £3,430.00
Global Action - SFM £3,000.00 £3,400.00
Global Action - Leprosy Mission £3,000.00 £3,020.00
TOTAL £29,400.00 £30,673.32
Ledger Reference Description 2023 Budget Actual Position
31.12.2023		 NOTES
LOCAL COMMUNITY COST CENTRE £ £
Local Community - General £3,500.00 £2,930.25
Local Community - Monks Abbey School £2,500.00 £6,050.00
TOTAL £6,000.00 £8,980.25
Ledger Reference Description 2022 Budget Actual Position
31.12.2022		 NOTES
LOCAL CHURCH COST CENTRE £ £
Local Church - Fellowship Meals and Refreshments £4,000.00 £4,183.70
Local Church - Caring Needs £5,000.00 £6,026.09
Local Church - Resources - All Ministries £20,000.00 £28,918.90 Included the AV upgrade via legacy and other donations
Local Church - Training & Development £4,000.00 £1,622.32

16

Local Church - Visiting Speaker Fees & Sunday Service Needs £2,000.00 £2,122.01
TOTAL £35,000.00 £42,873.02
CURRENT ACCOUNT ACTUAL BALANCE AT 31.12.2023 £87,420.22
SAVINGS ACCOUNT ACTUAL BALANCE AT 31.12.2023 £50,408.37
ALL ACCOUNTS ACTUAL BALANCE AT 31.12.2023 £137,828.59

17

OTHER MINISTRIES ASSOCIATED WITH LINCOLN BAPTIST CHURCH

FiSH Accounts 2023

FiSH Accounts 2023
INCOME £ £
Balance Brought Forward 5,606.13
LBC ( reclaimed tax) 756.35
Talk donations 190.00
Other donations(10 individuals 3,815.90 10,368.56
TOTAL
EXPENDITURE £ £
Christmas 2023 vouchers 1,950.00
Summer 2023 vouchers 2,210.00
MAPS(FareShares) 2,000.00
TOTAL 6,160.00
BALANCE CARRIED FORWARD (bank account) 4,208.56

18

Consolidated statement of Financial Activities for the year ending 31 December 2023

INCOMING RESOURCES CURRENT BANK ACCOUNT RESERVES BANK ACCOUNT TOTAL FUNDS
Standing Orders, Loose offering & Additional Gifts £95,314
Gift Aid £18,179
Lettings £31,533
TOTAL INCOMING RESOURCES £145,026
RESOURCES USED
Staffing £39,940
Property £50,161
Administration £4,342
Global Community (online) £3,802
Global Mission Giving £30,673
Local Community Giving £8,980
Local Church Giving & Expenses £42,873
TOTAL RESOURCES USED £180,771
NET INCOME/(OUTGOING) RESOURCES 2023 -£35,745
BALANCES BROUGHT FORWARD from 2023 £123,165
BALANCES CARRIED FORWARD to 2024 £87,420 £50,408 £137,828

19

Balance Sheet as at 31 December 2023

Balance Sheet as at 31 December 2023
FIXED ASSETS
Tangible Fixed Assets £1,562,098
CURRENT ASSETS
Cash at bank (Current & Reserves Accounts) £137,828
CURRENT LIABILITIES
Loans, Creditors, Advance Receipts £0
TOTAL ASSETS LESS CURRENT LIABILITIES £1,699,926
Unrestricted Reserves £849,963
Restricted Reserves £849,963
£1,699,926

20