| Contents | Pages | ||
|---|---|---|---|
| Legal and | administrative | information | |
| Minister's | report | ||
| Report of | the Deacons | 3-5 | |
| Independent examiner's |
report | ||
| Statement | of financial activities |
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| Balance sheet | |||
| Statement | ofCash Flows | ||
| Notes to the financial statements | 10-22 |
| A Buildings Group continues to operate and is working on the future strategy for all our buildings, as well a on dealing with the many minor issues which come up all the time. Public benefit |
A Buildings Group continues to operate and is working on the future strategy for all our buildings, as well a on dealing with the many minor issues which come up all the time. Public benefit |
A Buildings Group continues to operate and is working on the future strategy for all our buildings, as well a on dealing with the many minor issues which come up all the time. Public benefit |
|---|---|---|
| The Church's activities are considered regularly in the light of the guidance published by the Charity Commission on public benefit. The Deacons have regard to this guidance in exercising their powers and duties. Some examples of the public benefits flowing from the pursuit of the Church's aims and objectives are: the provision of regular services of public worship, providing pastoral care to those with whom the Church |
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| has contact, and providing facilities for children' s, senior citizens' and other community activities. |
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| Risk review | ||
| The Deacons review the risks of the operations of the Church regularly and take appropriate action where possible to mitigate those risks. The key risks which have been identified and key actions which have been |
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| taken are shown in the table below. |
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| Key risk | Mitigating action |
|
| The Church is dependent on giving from members, |
Regular teaching on the importance of Christian |
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| in particular on regular large gifts from a small |
giving;diversificationofsourcesofincometoinclude | |
| number of members. | more rental income from buildings. | |
| The Church works with children and vulnerable |
Employment of trained staff, adoption and regular |
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| adults, leading to risks of inadequate safeguarding practices and possible abuse. |
renewal of Safeguarding Policy, training of key staff and volunteers and review at each meeting of the |
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| Deacons | ||
| The Church has buildings which are constantly in |
Long term programme of building work with a view |
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| need of maintenance and renewal. |
to creating a sustainable building. |
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| The Church is dependent on key staff such as the |
The Deacons seek to follow best practice in |
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| Minister and the Youth and Children's Worker. |
employment ofstaff as recommended by the Baptist |
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| Union ofGreat Britain. | ||
| The Church is vulnerable to external pressures, |
Membership ofkey bodies such as the Baptist Union |
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| such as changes in legislation which may be |
of Great Britain and the London Baptist Association |
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| inconsistent with its aims or which may affect its |
which are able to influence legislation and guidelines |
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| financial viability. |
at a national and local level. |
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| Notes | 2020 | 2019 | ||||
|---|---|---|---|---|---|---|
| Fixed assets | ||||||
| Tangible assets | 12 | 2,873,963 | 2,750,110 | |||
| Current assets | ||||||
| Oebtors | 13 | 31,243 | 12,591 | |||
| Cash at bank and in | hand | 16,067 | 138,393 | |||
| Creditors: amounts |
falling | due within one | 47,310 | 150,984 | ||
| year | 14 | (3„438) | (2,812) | |||
| Net current assets | 43,872 | 148,172 | ||||
| Provisions for liabilities |
and charges | 20 | (33,380) | (36,245) | ||
| Total assets less current | liabilities | 2,884,455 | 2,862,037 | |||
| Funds | ||||||
| Restricted funds | 15 | 2,928 | 64,414 | |||
| Unrestricted funds |
16 | 2,881,527 | 2,797,623 | |||
| Total funds carried | forward | 17 | 2,884,455 | 2,862,037 |
| 2020 | 2019 | ||||
|---|---|---|---|---|---|
| Net cash provided | by operating activities |
||||
| (see below) | 12,956 | 19,884 | |||
| Cash flows from investing activities |
|||||
| Interest received |
141 | 243 | |||
| Payments on fixed |
asset additions | (135,423) | (60,719) | ||
| Net cash (used in) | investing activities |
(135,282) | (60,476) | ||
| Net cash (outflow) | (122,326) | (40,592) | |||
| Cash and cash equivalents at 1 October 2019 |
138,393 | 178,985 | |||
| Cash and cash equivalents at 30 |
|||||
| September 2020 |
16,067 | 138,393 | |||
| Cash flows from operating activi ties | |||||
| Net income for the | year | 22,418 | 3,926 | ||
| Interest included in Depreciation |
investing activities |
(141) 11,570 |
(243) 12,134 |
||
| Defined benefit employer contributions |
paid | (3,158) | (3,528} | ||
| Movement in defined |
benefit employer | deficit | |||
| provision (Increase)/decrease Increase in creditors |
in debtors | 293 (18,652) 626 |
2,475 5,038 82 |
||
| Net cash provided | by operating activities |
12,956 | 19,884 |
| Unrestricted | Restricted | ||||||||
|---|---|---|---|---|---|---|---|---|---|
| Funds | Funds | 2020 | 2019 | ||||||
| E | F | ||||||||
| Donations and legacies | |||||||||
| GiR aided | 65,450 | 364 | 65,814 | 66,375 | |||||
| Envelopes Loose cash |
2,935 5,067 |
2,935 5,067 |
7,371 11,411 |
||||||
| Income tax | recoverable | 18,395 | 107 | 18,502 | 15,324 | ||||
| Other income | 63,798 | 23,510 | 87,308 | 48,588 | |||||
| Total | 155,645 | 23,981 | 179,626 | 149,069 | |||||
| 3 | Other trading | activities | |||||||
| Unrestricted | Restdcted | ||||||||
| Funds | Funds | 2020 | 2019 | ||||||
| E | E | ||||||||
| Church activities | |||||||||
| Rent receivable | 50,589 | 50,589 | 49,066 | ||||||
| Pre School | activities | ||||||||
| Fundraising | events | 35 | 35 | 105 | |||||
| Total | 50,589 | 35 | 50,624 | 49,171 | |||||
| 4 | Income from investments | ||||||||
| Unrestricted | Restricted | ||||||||
| Funds | Funds | 2020 | 2019 | ||||||
| E | E | ||||||||
| Interest receivable | |||||||||
| Interest receivable |
3 | 97 | |||||||
| Pre School interest | receivable | 138 | 138 | 146 | |||||
| Total | 138 | 141 | 243 | ||||||
| 5 | Income from charitable | activities | |||||||
| Unrestricted | Restricted | ||||||||
| Funds | Funds | 2020 | 2019 | ||||||
| F | E | ||||||||
| Church | |||||||||
| Youth and children's | contributions | 3,330 | 3,330 | 11,106 | |||||
| Small Groups | and | Events | 812 | 812 | 1,195 | ||||
| 4,142 | 4,142 | 12,301 | |||||||
| Pre School | |||||||||
| Pre School fees | 35,109 | 35,109 | 89,307 | ||||||
| Total | 4, 142 | 35,109 | 39,251 | 101,608 |
| Grant | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Activities | Governance | funding | of | ||||||||||
| undertaken | costs | activities | |||||||||||
| directly | (see note 8) | (see note | 7) | 2020 | 2019 | ||||||||
| E | |||||||||||||
| Church | |||||||||||||
| General fund |
187,416 | 2,904 | 10,793 | 201,113 | 218,505 | ||||||||
| Pastoral fund |
|||||||||||||
| Building fund |
4,017 | 4,017 | 6,054 | ||||||||||
| Pre School | 191,433 | 2,904 | 10,793 | 205,130 | 224,559 | ||||||||
| Pre School | 71,802 | 71,802 | 71,606 | ||||||||||
| Total Charitable | Activities | 263,235 | 2,904 | 10,793 | 276,932 | 296,165 | |||||||
| 7 | Grants payable | ||||||||||||
| 2020 | 2019 | ||||||||||||
| E | |||||||||||||
| Paid toindividuals | |||||||||||||
| Missionaries | 5,399 | 6,074 | |||||||||||
| Grant payable | toinstitutions | ||||||||||||
| Pioneers UK |
5,394 | 5,394 | |||||||||||
| World church | baptist | missionary | society | 2,000 | |||||||||
| World church | home mission | fund | 2,000 | ||||||||||
| Total (see note | 6) | 10,793 | 15,468 | ||||||||||
| 8 | Governance | costs | |||||||||||
| 2020 | 2019 | ||||||||||||
| Direct costs | |||||||||||||
| Independent | examination | fees (including | VAg | 2,904 | 2,818 |
| 2020 | 2019 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Staffcosts | ||||||||||
| Wages and salaries Social security costs |
158,975 8,073 |
156,852 12,824 |
||||||||
| Defined benefit employer | pension | contributions (see note 20) |
3,178 | 3,162 | ||||||
| Movement | in defined | benefit employer | deficit provision (see | note 20) | 293 | 2,475 | ||||
| Defined contribution | employer | contributions (see note 20) |
9,270 | 15,375 | ||||||
| 179,789 | 190,688 | |||||||||
| The number | employees | on | an average | head count basis during | the year was as follows; | |||||
| 2020 | 2019 | |||||||||
| Number | Number | |||||||||
| Full time | ||||||||||
| Part time (based on | 3 part | time | staff and 3 bank staff) | |||||||
| 8 | 9 |
| 2020 | 2019 | |||
|---|---|---|---|---|
| E | ||||
| Staff costs | 179,789 | 190,688 | ||
| Independent | Examination | Fee | 2,904 | 2,818 |
| Depreciation | ofowned assets | ~12 4 |
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| Unrest 2020: |
ricted | funds |
|||||
|---|---|---|---|---|---|---|---|
| Balance at | Balance at | ||||||
| 1 Oct2019 | Income | Expenditure | Transfers | 30Sep 2020 | |||
| E | E | E | F | f. | |||
| General | fund | 10,895 | 218,496 | (186,473) | (71,754) | (28,836) | |
| Designated | Funds | ||||||
| General | fixed | asset fund | 2,743,944 | (8,958) | 135,423 | 2,870,409 | |
| Building | fund | 42,714 | 42,714 | ||||
| Accompanied | Groups | 70 | 2,852 | (5,682) | (2,760) | ||
| 2,797,623 | 221,348 | (201,113) | 63,669 | 2,881,527 | |||
| 2019: | |||||||
| Balance at | Balance at | ||||||
| 1 Oct 2018 f |
Income | Expenditure f |
Transfers E |
30Sep 2019 E |
|||
| General | fund | 30,549 | 187,216 | (203,461) | (3,409) | 10,895 | |
| Designated | Funds | ||||||
| General | axed | asset fund | 2,692,747 | (9,522) | 60,719 | 2,743,944 | |
| Building | fund | 50,000 | (7,286) | 42,714 | |||
| Accompanied | Groups | 394 | 5,198 | (5,522) | 70 | ||
| 2,773,690 | 192,414 | (218,505) | 50,024 | 2,797,623 |
| 2020: | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Other | Balance | ||||||||||
| Fixed | net | between | |||||||||
| assets | Cash | assets | funds | Total | |||||||
| E | F | E | E | ||||||||
| Fund balances | at 30September | 2020 are represented | by: | ||||||||
| General | fund | 4,134 | (7,046) | (29,478) | (32,390) | ||||||
| Designated Funds |
|||||||||||
| General | fixed | asset fund | 2,873,963 | 2,873,963 | |||||||
| Building | fund | 42,714 | 42,714 | ||||||||
| Accompanied | Groups | 452 | (3,212) | (2,760) | |||||||
| Restricted Funds |
|||||||||||
| Pastoral | fund | 163 | 163 | ||||||||
| Wates Foundation | fund | 1,294 | 1,294 | ||||||||
| Pre School fund | |||||||||||
| Building | fund | 1,471 | (11,481) | 1,471 | |||||||
| 2,873,963 | 16,067 | (5,575) | 2,884,455 | ||||||||
| 2019: | |||||||||||
| Other | Balance | ||||||||||
| Fixed | net | between | |||||||||
| assets | Cash | assets | funds | Tota I | |||||||
| E | |||||||||||
| Fund balances | at | 30September 2019are | represented | by: | |||||||
| General | fund | 3,818 | (27,571) | 34,648 | 10,895 | ||||||
| Designated | Funds | ||||||||||
| General | fixed | asset fund | 2,743,944 | 2,743,944 | |||||||
| Building | fund | 42,714 | 42,714 | ||||||||
| Accompanied | Groups | (8) | 78 | 70 | |||||||
| Restricted Funds |
|||||||||||
| Pastoral | fund | 163 | 163 | ||||||||
| Wates | Foundation | fund | 1,294 | 1,294 | |||||||
| Pre School fund | 6,166 | 54,656 | 75 | 2,060 | 62,957 | ||||||
| Building | fund | 79,927 | 1,030 | (80,957) | |||||||
| 2,750,110 | 138,393 | (26,466) | 2,862,037 |
| 2020 | 2019 | ||||
|---|---|---|---|---|---|
| E | |||||
| Within | one | year | 1,262 | 2,152 | |
| Within | two | to five years | 1,262 | ||
| 1,262 | 3,414 | ||||
| Total | lease | payments | in the year | 2,152 | 2,152 |
| The following | Deacons were associated with |
the following | recipients of | grants: | |
|---|---|---|---|---|---|
| 2020 | 2019 | ||||
| E | |||||
| Deacon | AasociatIon | ||||
| P King | Pioneers | UK | 5,394 | 5,394 | |
| The following | Deacons received remuneration | in the year, | as permitted | by section 23 ofthe | Constitution: |
| The following Deacons received |
remuneration in the year, as permitted |
by section 23 ofthe C | onstitution: |
|---|---|---|---|
| 2020 | 2019 | ||
| Deacon | Occupation | ||
| Rev R Marzetti | Pastor | 30,996 | 31,008 |
| 30,996 | 31,008 |
| Pen | sion commitments and o |
sion commitments and o |
ther po | st-retirement benefit |
s (conti |
|---|---|---|---|---|---|
| The | key assumptions underlying the |
valuation | were as follows: | ||
| Type ofassumption RPI price inflation assumption |
%pa 3.50 |
||||
| CPI price inflation assumption |
2.75 | ||||
| Minimum Assumed |
Pensionable Income investment returns |
increases | (CPI plus 0.75% pa) | 3.50 | |
| Pre-retirement | 3.50 | ||||
| Post retirement | 2.25 | ||||
| Deferred | pension increases |
||||
| Pre April 2009 | 3.50 | ||||
| Post April 2009 | 2.50 | ||||
| Pension increases | |||||
| Main Scheme pension | Pre April | 2006 | 2.70 | ||
| Main Scheme pension | Post April 2006 | 2.00 |
| movement in the provisi |
on | is se | t out in the table below. | |||
|---|---|---|---|---|---|---|
| 2020 | 2019 | |||||
| E | ||||||
| Balance sheet liability | at | the | start ofthe year | 36,245 | 37,298 | |
| Minus deficiency contributions |
paid | (3,158) | (3,528) | |||
| Interest cost (recognised | in SoFA) | 520 | 889 | |||
| Remaining change to |
balance | sheet liability* (recognised | in SoFA) | (227) | 1,586 | |
| Balance sheet liability | at | the | end ofthe year | 33,380 | 36,245 |
| Pension commitments and |
Pension commitments and |
other post-retirement benefits (continued) |
other post-retirement benefits (continued) |
other post-retirement benefits (continued) |
other post-retirement benefits (continued) |
|
|---|---|---|---|---|---|---|
| This liability represents the present has been valued using the following |
value ofthe deficit contributions agreed as at the accounting assumptions set by reference to the duration of the deficit |
date and recovery |
||||
| payments; | ||||||
| 2020 | 2019 | 2018 | ||||
| Discount rate | 0.4 | 2.5% | ||||
| Future increases | to Minimum Pensionable |
Income | 3.1% | 3.4% | 33% |