##
|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|||||||||||
##
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|||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|
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|||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|
##
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||||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|
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|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|
##
##
|3.|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|
##
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|||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|
##
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|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|
##
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##
|10.|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|under non-cancellable|operating|leases fall due as follows:|||
|---|---|---|---|---|---|---|
||||||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|
##
##
|12.|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|
##
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|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%.||
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