2023-12-31-accounts - Whetstone Baptist Church

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Charity	Name and Number	Whetstone Baptist	Whetstone Baptist	Church	Church
		WBC (working name)
		Registered charity		number 1130585
Trustees		Rev P M Robinson		(Senior		Minister)			Mrs E Lander - resigned		25/04/23
		Revd N Swenson	(Associate Minister)						Mr 5Mould
		Mr 5Clay (Mimster-in-training)							Mr P Smith	( Treasurer)
		Mr P Ndabananiye		( Chair		of trustees/Church		Secretary )	Mr J Adams	- resigned	18/09/23
		Mr J W Denney -	resigned			25/04/23			Mrs TCosgrove
		Mr M Smith - resigned			25/04/23				Mr 5 Howard
		Mr J Kyte							Mrs D Kiiipe
		Mrs H Ward							Mr 5Wheeler
		Miss 5 H/R							Mrs A Howard - appointed			25/04/23
Principal	Address	Whetstone Baptist		Church
		SpringweR, Dog and Gun				Lane
		Whetstone
		Leicestershire
		LEB6LJ
Auditors		The Row(eye Partnership				Limited
		Statutory Audltom
		Chartered Accountants
		Charnwood House
		Harcourt Way
		Mend/an Business		Park
		Leicester
		Lei«estershire
		LEI9 IWP
Bankmu		Santander UK Pic
		Bootle
		Merseyside
		L30 4G8
Property	Trustees	The East Midlands		Baptist		Trust Company	Limited
		Baptist House
		129 Broadway
		Didcot
		Oxfordshire
		OXII BRT

		Page(s)
Trustees' report		1-5
Report of Independent	Auditors	6-8
Statement of Financial	Activities
Balance sheet		10
Statement of Cash Flows
Notes to the accounts		12-21

		Note	UNRESTRICTED	RESTRICTED	TOTAL	TOTAL
			FUNDS	FUNDS	2023	2022
			E	E
Income from:
Donations and legacies			950,265	162,329	1,112,594	445,395
Charitable activities			169,909		169,909	132,296
Other: Profit on disposal of property			445,952		445,952
Investment income	- bank interest			1,885	1,885	10
Total income			1,566,126	164,214	1,730,340	577,701
Expenditure on:
Charitable activities
Grants payable				17,500	17,500	18,692
Cost ofactivities			440,272	161,246	601,518	595,595
Expenditure on charitable activities			18,988		18,988	17,878
Total expenditure			459,260	178,746	638,006	632,165
Net income/(expenditure)			1,106,866	(14,532)	1,092,334	(54,464)
Transfers between	funds	12	(27,975)	27,975
Net movement in funds			1,078,891	13,443	1,092,334	(54,464)
Reconciliation offunds
Total funds brought	forward		543,385	3,568,699	4,112,084	4,166,548
Total funds carried	forward at 31 December 2023		1,622,276	3,582,142	5,204,418	4,112,084

				BALANCE SHEET
				AS AT
				31 DECEMBER 2023
				2023			2022
			Note
Fixed Assets
Tangible assets					5,269,832			5,597,073
					5,269,832			5,597,073
Current Assets
Debtors			8	721,809		42,651
Cash at bank and in	hand			48,364		83,088
				770,173		125,739
Current Liabilities
Creditors: amounts	falling
due within one year			9	(340,178)		(910,088)
					429,995			(784,349)
Total assets less current		liabilities			5,699,827			4,812,724
Creditors: amounts	falling
due after more than	one	year	10		(495,409)			(700,640)
Net Assets					5,204,418			4,112,084
Charity Funds
Restricted funds			12		3,582,142			3,568,699
Unrestricted funds			12		1,622,276			543,385
Total charity funds					5,204,418			4,112,084

			2023	2022
		Note	E	E
Cash flow from operating	activities	As below	109,194	220,801
Cash flow from investing	activities
Payments to acquire tangible fixed assets			(51,849)	(283,837)
Proceeds on sale of tangible fixed assets			680,452
Interest received			1,885	10
Net cash flow from investing activities			630,488	(283,827)
Cash flow from financing	activities
Receipts from issue of new long term loans				106,000
Repayments of long term	loans		(734,061)	(180,763)
Interest paid			(40,345)	(54,179)
Net cash flow from financing activities			(774,406)	(128,942)
Net decrease in cash and	cash equivalents		(34,724)	(191,968)
Cash and cash equivalents	at 1 January 2023		83,088	275,056
Cash and cash equivalents	at 31 December 2023		48,364	83,088
Cash and cash equivalents	consists of:
Cash at bank and in hand			48,364	83,088
Cash and cash equivalents	at 31 December 2023		48,364	83,088
Reconciliation of net income to net cash flow from operating		activities
			2023	2022
			E	E
Net income for year			1,092,334	(54,464)
Interest receivable			(1,885)	(10)
Interest payable			40,345	54,179
Depreciation of tangible	fixed assets		144,590	150,549
Profit on disposal of tangible fixed assets			(445,952)
(Increase)/decrease in debtors			(679,158)	39,086
(Decrease)/increase in creditors			(41,080)	31,461
Net cash flow from operating activities			109,194	220,801

2.	Incoming	Incoming	Resources	Resources	Resources			Unrestricted	Restricted	Total	Unrestricted	Restricted	Total
								fund	fund	2023	fund	fund	2022
								E	E	E	E	E	E
	General	and specific offerings						183,425	5,208	188,633	188,459	4,522	192,981
	Building	Fund							139,010	139,010		179,678	179,678
	Legacies							696,887		696,887
	Reception		desk									3,020	3,020
	Memorial		garden						760	760		8,950	8,950
	Manse Building			Fund								5,070	5,070
	Gift Aid							34,186	17,351	51,537	23,146	13,039	36,185
	Room hire							13,136		13,136	4,718		4,718
	Rent - 4	Knightsbridge				Road		11,400		11,400	14,793		14,793
	Other income							11,231		11,231
								950,265	162,329	1,112,594	231,116	214,279	445,395
	Incoming		resources		from charitable			activities:
	Pre-school							169,909		169,909	132,296		132,296
								169,909		169,909	132,296		132,296
3.	Charitable		expenditure					Unrestricted	Restricted	Total	Unrestricted	Restricted	Total
								fund	fund	2023	fund	fund	2022
								E	E	E	E	E	E
	Gifts payable			in furtherance			ofthe	charity's objects:
	Specific	gifts							17,500	17,500		18,692	18,692
									17,500	17,500		18,692	18,692

Expenditure	on charitable activities:	on charitable activities:
Accounts preparation		fee	5,950	5,950
Audit fee			11,193	11,193	11,350	11,350
Legal and professionalfees			(121)	(121)	4,419	4,419
Payroll admin	fee		1,152	1,152	1,512	1,512
Bank Charges			814	814	597	597
			18,988	18,988	17,878	17,878

Charitable expenditure	Charitable expenditure	Charitable expenditure	(Cont'd)		Unrestricted	Restricted	Total	Unrestricted	Restricted	Total
					fund	fund	2023	fund	fund	2022
					E	E	E	E	E	E
Cost ofactivities	in	furtherance		ofthe charity's objects:
Ministry stipends	and	Expenses			113,522		113,522	121,449		121,449
Office staff salaries and			National	Insurance	31,533		31,533	31,849		31,849
Pre-school Salaries and			National	Insurance	140,769		140,769	120,680		120,680
Pre-school Expenses					7,230		7,230	10,133		10,133
Office and Pre-school		Pension			2,814		2,814	1,727		1,727
Building Repairs and		Maintenance			9,756		9,756	3,867		3,867
Building alarms					2,184		2,184
Health 8Safety					2,695		2,695
Cleaning					9,673		9,673	9,896		9,896
Light and Heat					34,258		34,258	40,730		40,730
Office Administration					1,023		1,023	1,609		1,609
Catering					3,431		3,431	2,127		2,127
Telephone					5,462		5,462	1,442		1,442
Pastoral care					2,542	2,522	5,064
Peak Pilgrimage								480		480
Church Council Tax and			Water Rates		4,504		4,504	5,343		5,343
Insurance					8,677		8,677	12,325		12,325
Affiliation Fees					1,442		1,442	1,230		1,230
Printing					6,805		6,805	7,361		7,361
Youth Work					1,224		1,224	1,247		1,247
Music and Worship					2,103		2,103	2,430		2,430
Ministry and Publications			Expenses		746		746	811		811
IT					2,884		2,884	3,058		3,058
Misc Expenses					612		612	1,460		1,460
Depreciation					29,597	114,993	144,590	36,705	113,844	150,549
Alpha					1,433		1,433
Building Fund Loan interest						40,345	40,345		51,955	51,955
Manse Loan Interest					3,169		3,169		2,224	2,224
Training Costs					5,209		5,209	7,775		7,775
Community Outreach					1,875		1,875	1,821		1,821
Appeals						3,386	3,386	17		17
Mission support					3,100		3,100
					440,272	161,246	601,518	427,572	168,023	595,595

		2023	2022
		E	E
Salaries and wages		253,374	235,607
Social security		7,313	8,301
Pension costs		12,973	15,753
		273,660	259,661
		Number	Number
Management	andadministration	17	16

							2023	2022
							E	E
Revd	M Clay - Pension (former Senior Pastor)						12	5,727
Mr 5	M Clay - Stipend (current	Minister-in-Training)					10,327	16,403
Mr 5	M Clay - Pension (current Minister-in-Training)						135
Mr 5	M Clay - Expenses						1,292	2,206
Revd	N Swanson - Stipend and Employers		National		Insurance		35,407	34,120
Revd	N Swanson - Pension						4,621	3,815
Ministers' Manse Leaseback							2,378	2,093
Revd	N Swanson - Ministers' Expenses						4,173	4,720
Revd	P M Robinson - Stipend	and Employers		National		Insurance	42,651	41,206
Revd	P M Robinson - Pension						5,392	4,485
Revd	P M Robinson - Ministers'	Expenses						395
Revd	P M Robinson - Manse Allowance						7,134	6,279
							113,522	121,419

Tangible fixed assets
	Freehold	Property	Furniture	PA and
	Land &	under	Fixtures &	Musical	Total
	Property	constructiors	Fittings	Equipment
	E	E	E	E
Cost
Brought Forward	4,712,937	1,118,680	70,481	64,302	5,966,400
Additions at Cost	33,768	10,150	2,382	5,549	51,849
Disposals	(350,000)				(350,000)
At 31 December 2023	4,396,705	1,128,830	72,863	69,851	5,668,249
Depreciation
Brought Forward	298,251		41,213	29,863	369,327
Charge for the year	119,193		7,258	18,139	144,590
Disposals	(115,500)				(115,500)
At 31 December 2023	301,944		48,471	48,002	398,417
Net book value
At 31 December 2023	4,094,761	1,128,830	24,392	21,849	5,269,832
At 31 December 2022	4,414,686	1,118,680	29,268	34,439	5,597,073

8.	Debtors: amounts	falling due within one year	falling due within one year	falling due within one year		2023	2022
						E	E
	Trade debtors					144
	Gift aid receivable					13,576	38,686
	Prepayments					11,202	3,965
	Legacies receivable					696,887
						721,809	42,651
9.	Creditors: amounts	falling due		within one year		2023	2022
						E	E
	Trade creditors					2,397	7,147
	Accruals &deferred	income				38,027	59,545
	Social security &other		taxes			3,421	7,726
	Other creditors - WBC Des&gn Co			Ltd		90,766	103,108
	Pension					1,835
	Building fund &other loans:
	Baptist Union loans	for	building	of church	45,275
	Other loans for building		of church		120,000	165,275	726,502
	Manse Loans:
	Baptist Union loans	for	purchase	of Manse	6,457
	Other loans for purchase of Manse				32,000	38,457	6,060
						340,178	910,088

Creditors: amounts falling due after more	Creditors: amounts falling due after more	than	one year			2023	2022
						E	E
Building fund 8other loans:
Baptist Union loans for building	of church				460,981
Other loans for building of church						460,981	627,469
Manse Loans:
Baptist Union loans for purchase of Manse					34,428
Other loans for purchase ofManse						34,428	73,171
						495,409	700,640
Security and borrowing costs	on Building	Fund
The Baptist Union Corporation	(BU) has registered		a restriction		against the Land Registry Title for the Church		property
to be in place for the duration	ofthe loan.	The Restriction		will	be discharged	only when the loan is repaid.

Minimum	lease payments
		2023	2022
		E	E
Within one year		3,836	3,533
Between	one and two years	3,836	3,533
Between	two and five years	4,004	7,235
		11,676	14,301

Movements in funds	Movements in funds
			Funds 8/fwd 01.01.2023	Voluntary income	Charitable expenditure	Transfers	Funds C/fwd 31.12.2023
			6	E	E		E
Unrestricted Funds
Generalfund			498,385	1,566,126	459,260	(27,975)	1,577,276
Designated Fund	- Simon Clay's	living expenses	45,000				45,000
Restricted Funds
EMBA					17,500	17,500
Other charitable	donations
Parish Nursing			744				744
Pearl Of Africa Choir			20				20
Growing leaders	- joint church		261				261
Communion fund	ft other gifts		5,743	5,208	5,908		5,043
Manse Building Fund					10,875	10,475
Memorial garden			8,950	760			9,710
Reception desk			3,020				3,020
Building Fund			3,549,561	158,246	144,463		3,563,344
			4,112,084	1,730,340	638,006		5,204,418
Comparatives for movements		in funds
			Funds 8/fwd 01.01.2022	Voluntary income	Charitable expenditure	Transfers	Funds C/fwd 31.12.2022
			E	E	E		E
Unrestricted Funds
Generalfund			603,745	363,412	445,450	(23,322)	498,385
Designated Fund	- Simon Clay's	living expenses	45,000				45,000
Restricted Funds
EMBA					17,778	17,778
Other charitable	donations				421	421
Parish Nursing			744				744
Pearl Of Africa Choir			20				20
Growing leaders	- joint church		261				261
Communion fund	&.other gifts		1,704	4,532	493		5,743
Manse Building Fund				5,070	9,793	5,123	400
Memorial garden				8,950			8,950
Reception desk				3,020			3,020
Building Fund			3,515,074	192,717	158,230		3,549,561
			4,166,548	577,701	632,165		4,112,084

				Unrestricted	Restricted
13.Analysis of net assets between		funds		funds	funds	Total
					E	E
Funds	balances at 31 December	2023 are represented	by:
Fixed	assets			135,843	5,133,989	5,269,832
Net current assets				1,486,433	(1,551,847)	(65,414)
				1,622,276	3,582,142	5,204,418

The key financial	assumptions underlying the valuations were	assumptions underlying the valuations were	assumptions underlying the valuations were	as follows:	as follows:	as follows:
Type ofassumption											Xp.a.
RPI price inflation	assumption										3.20
CPI price inflation	assumption										2.70
Minimum Pensionable Income Increase Adjustment			(above CPI)								0.50
Pre-retirement assumed investment returns		(gilt yield plus 1.75Xp.a.)									2.95
Post-retirement assumed investment returns		(including benefits matched					by the insurance
policy) (gilt yield	plus 0.5%p.a.)										1.70
Minimum Pensionable Income Increases Adjustment			(CPI plus	0.55)							3.20
Deferred pension	increases (based on RPI)
Pre April 2009											3.20
Post Apnl2009											2.50
Pension increases
Based on CPI with	an annual floor of OX and	annual	cap of 5%								2.70
Mortality is assumed in accordance with 80%of the			53NA standard		mortality table.			Future improvements		projected	from
2013 in line with	the "CMI 2019"projection	with a	long-term	rate	of improvement			of 1.75%p.a.	for males and I.SXp.a.
for females with	the core smoothing parameter and		with additional			initial	mortality	improvement	factor	A=0.5%.