|**Trustees' Annual Report for the period**|**Trustees' Annual Report for the period**|**Trustees' Annual Report for the period**|**Trustees' Annual Report for the period**|**Trustees' Annual Report for the period**|**Trustees' Annual Report for the period**|**Trustees' Annual Report for the period**|**Trustees' Annual Report for the period**| |---|---|---|---|---|---|---|---| |**From**|Period start date|||**T**
**o**|Period end date||| ||Day
01|Month
04|Year
2023||Day
31|Month
03|Year
2024| |Section A|Section A|Reference and administration details|Reference and administration details|Reference and administration details|Reference and administration details|Reference and administration details| |---|---|---|---|---|---|---| ||**Charity name**|||Headington Baptist Church||| |||||||| ||**Other names charity is known by**|||||| |**Registered charity number (if any)**
Charity's principal address|||1131272
78 Old High Street
Headington
Oxford
**Postcode**
OX3 9HW
~~—~~|||| ||**Names of the charity trustees who manage the charity**|||||| ||**Trustee name**|**Office (if any)**|||**Dates acted if not for whole**
**year**|**Name of person (or body) entitled**
**to appoint trustee (if any)**| |1|Christopher Band|Minister|||Until 31st July 2023|| |2|Jonathan van den Broek|||||| |3|Rachel Edwards-Grundy||||From 31st March 2024|| |4|Beryl Smart||||Until 31st March 2024|| |5|Wendy van den Broek|Secretary||||| |6|Ian Simmons||||Until 31st March 2024|| |7|Ian McDonald|Minister||||| |8|Nick Jackson|||||| |9|Rebecca Bradshaw|||||| 1 November **2019** **TAR** |10
11
12
13|Matthew Warmington|Minister||| |---|---|---|---|---| ||Chimereze Chima||From31st March 2024|| ||David Scott|Treasurer|From 1st January 2023|| ||Alastair Howard||From 31st March 2024|| ## **Names of the trustees for the charity, if any, (for example, any custodian trustees)** |**Name**|**Dates acted if not for whole year**| |---|---| |Baptist Union Corporation|| ||| ||| ## **Names and addresses of advisers (Optional information)** **Type of adviser Name Address** ## **Name of chief executive or names of senior staff members (Optional information)** ## **Section B Structure, governance and management** ## **Description of the charity’s trusts** Type of governing document (eg. trust deed, constitution)[Constitution (adopted June 2009)] How the charity is constituted (eg. trust, association, company)[Unincorporated association] Trustee selection methods (eg. appointed by, elected by)[Trustees are appointed by Members of the church according to the] process set out in the Constitution ## **Additional governance issues (Optional information)** 2 November **2019** **TAR** You **may choose** to include additional information, where relevant, about: - policies and procedures adopted for the induction and training of trustees; - the charity’s organisational structure and any wider network with which the charity works; - relationship with any related parties; - trustees’ consideration of major risks and the system and procedures to manage them. **Section C Objectives and activities** |**Summary of the objects of the**
**charity set out in its governing**
**document**
**Summary of the main activities**
**undertaken for the public**
**benefit in relation to these**
**objects (include within this**
**section the statutory**
**declaration that trustees have**
**had regard to the guidance**
**issued by the Charity**
**Commission on public benefit)**|The principal Purpose of the church is the advancement of the Christian
faith according to the principles of the Baptist denomination. The church
may also advance education and carry out other charitable purposes in
the United Kingdom and/ or other parts of the world.|| |---|---|---| ||In fulfilling its Purpose the church will engage in a range of activities,
either on its own or with others, that will vary from time to time, with
activities being initiated, expanded or closed as appropriate. In
considering the activities, the Trustees have had regard to the guidance
issued by the Charity Commission on public benefit.
The activities may include but are not restricted to:
1. Regular public worship, prayer, Bible study, preaching and
teaching.
2. Baptism, as defined in the Baptist Union’s Declaration of Principle.
3. The communion of the Lord’s Supper.
4. Evangelism and mission, locally, regionally, nationally and
internationally.
5. The teaching, encouragement, welcome and inclusion of young
people.
6. Nurture and growth of Christian disciples.
7. Education and training for Christian and community service.
8. Giving and encouraging of pastoral care.
9. Supporting and encouraging charitable social action in the United
Kingdom and abroad.
10. Encouraging relationships with, and supporting, Baptists and other
Christians.|| ## **Additional details of objectives and activities (Optional information)** 3 November **2019** **TAR** You **may choose** to include The church makes grants to other organisations whose charitable objects further statements, where complement its work. These grants are considered each year in the relevant, about: budget-setting process and are approved by the Members’ Meeting. ● policy on grantmaking; Much of the work of the church is carried out by members on a voluntary ● policy programme related basis, which is an essential complement to the work of the ministers in the successful functioning of the organisation. - policy programme related investment; - contribution made by volunteers. Most Headington-based activities occur in our main building as per the principal address but others based in the local area are held in neighbouring venues such as the Barton Community Centre. 4 November **2019** **TAR** Section D Achievements and performance 5 November **2019** **TAR** |Section D|Achievements and performance| |---|---| |**Summary of the main**
**achievements of the charity**
**during the year**|**Worship & Prayer**
Worship and prayer are core values within the life of HBC. We enjoy
times led by our accomplished musicians and service leaders. We meet
on a Sunday Morning, where times of all-age worship take place involving
children and young people before they go to their own programmes, and
on a Sunday evening for a more intimate and reflective time. Numbers at
services have continued to grow in the last year.
Over the year we had sermon series taking a chronological overview of
the whole of scripture, a vision series called ‘At The Core: A devoted
church’ taking themes from Acts 2:42-47, and started a series looking at
the stories of women in scripture. During Advent our series was called
‘Ask, Seek, Knock’ combining Matt 7:7-8 with Luke 2. We’ve had a
number of one-off services including open air services in the Priory
Gardens this year. These have been great opportunities of community
together.
Connect Groups meeting in members’ homes have continued to be a
great support to many who meet weekly for prayer, Bible study and
support of one another. Groups have followed teaching linked to the
sermon series or chosen material suitable to the individual groups’ needs.
**Pastoral Care**
Pastoral Care takes place right across the church in the day-to-day and
week-to-week which is encouraged amongst the membership. A number
of people were visited and met with as the need arose.
**Ecumenical Relationships**
Our ecumenical relationships are expressed by our participation in three
different church networks: (i) Churches Together in Headington – we
continued to be an active member and have representation on their
committee (ii) Local Baptist Cluster (iii) ‘Love Oxford’ network of
Churches, (rebranded as Renew Oxford) – we participated in occasional
prayer meetings and termly ministers’ lunches. This group represents a
wide range of churches including a diverse number of ethnic
congregations.
**Community Engagement & Outreach**
Outreach happens right across the life of the church: through toddlers,
children and youth work; in Light Bite (a lunch club for the over 50s),
services and Connect groups. Our Carol service was well attended by
members but also those who they invited and a number of the wider
community. Saltmine Theatre Co once again brought their Christmas
performance, this time ‘A Christmas Carol’. It was a sold-out performance
with over 140 tickets sold. A ‘Swish’ event for women ran in the autumn
which connects with ladies in the community and is in accord with our
eco-principles. Close to Mothers’ day, a tea and craft afternoon was held
for families.
We continued as a partner church in the Oxford Churches Debt Centre,
which is affiliated with the charity Christians Against Poverty. Our link is
expressed by financial giving, by providing a trustee (who also serves as| 6 November **2019** **TAR** ## Section D ## Achievements and performance Chair) and by two of our members being employed by OCDC (a Centre Manager and a Debt Coach). We ran ‘The Marriage Sessions’ several times during the year for those wanting to invest further in their marital relationship. We financially supported a number of mission agencies/personnel including Wycliffe Bible Translators, Friends International & BMS World Mission. We also supported appeals for helping asylum-seekers and the impoverished. ## **Children & Youth** Every Sunday morning we ran Transformers (for ages 4-11) and Minis (ages 0-4). Both occasions are filled with fun, song, engaging activities and Bible teaching. We also ran a Holiday Club with around 100 children (ages 4-11) attending, along with a very large team that consisted both of adults and also Junior Leaders. In March 2023 our Children & Families leader left his post, handing different parts of the role to volunteer leaders. The youth continued to meet for teaching on Sunday mornings using the Youth For Christ material. In February, the youth went to Buckden Towers for a youth weekend. In August the youth attended the ‘Satellites’ festival. In September the youth stopped meeting on a Sunday evening and moved to meeting fortnightly on a Friday for a mixture of community and discipleship. The Youth Discipleship Group met weekly and explored a range of contemporary topics. ## **Barton Community Church** HBC’s daughter church, Barton Community Church (BCC), is located on the Barton Estate. The estate has areas of social deprivation, with increased levels of mental illness, poverty and poor education. The church delivers support to several families and individuals as well as being actively involved in the life of the community, and administering a foodbank. ## **Staffing** In April Chris Band let the church know his intention to leave the church as Minister. He left at the end of July. A farewell celebration and party was organised which was attended by many past and present. It was a good evening, mixed with sadness. The church meeting changed Ian’s title from Associate Minister to Minister in September. A discernment process was started to explore the future makeup of the church. In March 24 it was agreed that we would start the process to seek a further minister to join the church. The Staff Team consisted of: Senior Minister; Associate Minister/Minister; Pastor (P/T – non-stipendiary); Administrator (P/T). ## **Use of the Church Building** 7 November **2019** **TAR** ## Section D ## Achievements and performance The building was mainly used for Sunday services, Toddlers, Powerpack weekly, Youth and Holiday Club. There have been a few external bookings during the year, including conferences for mission organisations like Wycliffe Bible Translators and Lymington Rushmore. The building also had smaller ad-hoc bookings and regular bookings from a variety of organisations and groups. In December we hosted Saltmine Theatre Co for their Christmas performance of A Christmas Carol. 8 November **2019** **TAR** - **Section E Financial review** The policy is that one third of annual budgeted expenditure be held in - **Brief statement of the charity’s** realisable form. **policy on reserves Details of any funds materially in deficit Further financial review details (Optional information)** The Church relies upon voluntary donations from members and some - You **may choose** to include other individuals. The Baptists Together organization supports Barton - additional information, where Community Church with a grant for employing a minister and the - relevant about: Lauderdale Trust gave a grant for a youth worker at Barton. - ● the charity’s principal The Church does not make financial appeals outside the membership. sources of funds (including any fundraising); All monies are held in The Co-Operative Bank, the Charities Aid - ● how expenditure has Foundation bank and the Baptist Union deposit scheme. supported the key objectives of the charity; - ● investment policy and objectives including any ethical investment policy adopted. ## **Section F Other optional information** ## **Section G Declaration** **The trustees declare that they have approved the trustees’ report above.** **Signed on behalf of the charity’s trustees** **Signature(s)**[R Bradshaw] David Scott 9 November **2019** **TAR** |**Full name(s)**
**Position (eg Secretary, Chair,**
**etc)**
**Date**|Rebecca Bradshaw|David Scott| |---|---|---| |||| ||Acting Secretary|Treasurer| |||| ||8.1.25|8.1.25| 10 November **2019** **TAR** ## **HEADINGTON BAPTIST CHURCH STATEMENT OF FINANCIAL ACTIVITIES YEAR ENDED 31 MARCH 2024** |Unrestricted
Funds
Note
£
**Income from:**
Donations and legacies
2
206,594
Investments
3
Charitable activities
4
14,949
Other income
5
4,719
**Total income**
226,262
**Expenditure on:**
Charitable activities
6
203,766
**Total expenditure**
203,766
**Net income/(expenditure)**
22,496
**Transfers between funds**
15
-41,469
**Net movement in funds**
-18,973
**Reconciliation of funds:**
Total funds brought forward
1,293,064
**Total funds carried forward**
1,274,091|Designated
Funds
£
62,934
2,568
39,507
105,009
125,107
125,107
-20,098
41,469
21,371
283,105
304,476|Total
2024
£
269,528
2,568
14,949
44,226
331,271
328,873
328,873
2,398
0
2,398
1,576,169
1,578,567|Total
2023
£
292,950
54
14,222
6,814| |---|---|---|---| ||||314,040| ||||334,261| ||||334,261| ||||-20,221
0| ||||-20,221
1,596,390| ||||1,576,169| Page 1 ## **HEADINGTON BAPTIST CHURCH STATEMENT OF FINANCIAL ACTIVITIES YEAR ENDED 31 MARCH 2024** |Unrestricted
Funds
Note
£
**Fixed Assets**
Tangible Assets
11
1,193,980
1,193,980
**Current Assets**
Debtors
12
2,783
Cash at bank and in hand
77,728
80,511
**Current liabilities**
Creditors:amounts falling due in one year
13
400
400
**Net current assets less current liabilities**
80,111
**Total assets less current liabilities**
1,274,091
Creditors:amounts falling due after more
than one year
14
0
**Total net assets less liabilities**
1,274,091
**Funds of the charity**
Unrestricted funds
1,274,091
Designated _Barton Fund
15
Designated _Manse Fund
15
Designated _New Superdads
15
1,274,091|Unrestricted
Funds
Note
£
**Fixed Assets**
Tangible Assets
11
1,193,980
1,193,980
**Current Assets**
Debtors
12
2,783
Cash at bank and in hand
77,728
80,511
**Current liabilities**
Creditors:amounts falling due in one year
13
400
400
**Net current assets less current liabilities**
80,111
**Total assets less current liabilities**
1,274,091
Creditors:amounts falling due after more
than one year
14
0
**Total net assets less liabilities**
1,274,091
**Funds of the charity**
Unrestricted funds
1,274,091
Designated _Barton Fund
15
Designated _Manse Fund
15
Designated _New Superdads
15
1,274,091|Designated
Funds
£
580,000|Total
2024
£
1,773,980|Total
2023
£
1,806,436| |---|---|---|---|---| ||1,193,980
2,783
77,728|580,000
627
159,721|1,773,980
3,410
237,449|1,806,436
10,353
233,739| ||80,511
400|160,348
256,188|240,859
256,588|244,092
271,905| ||400
80,111
1,274,091|256,188
-95,840
484,160|256,588
-15,729
1,758,251|271,905
-27,813
1,778,623| ||0|179,684|179,684|202,454| ||1,274,091|304,476|1,578,567|1,576,169| ||1,274,091|29,637
274,839|1,274,091
29,637
274,839|1,293,064
26,084
255,385
1,636| ||1,274,091|304,476|1,578,567|1,576,169| The financial statements were approved by the Trustees on 8.1.2025 and were signed on their behalf by: ## David Scott David Scott Church Treasurer Page 2 ## **HEADINGTON BAPTIST CHURCH NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2024** ## **1. Accounting Policies** ## **Basis of preparing the financial statements** Headington Baptist Church is a registered charity, no. 1131272 and constitutes a public benefit entity as defined by FRS102. The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with Financial Reporting Standard applicable in the UK and Republic of Ireland issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) , the Charities Act 2011 and UK Generally Accepted Accounting Practice. The financial statements are prepared on a going concern basis under the historical cost convention. The significant accounting policies applied in the preparation of these financial statements are set out below. The policies have been consistently applied in all years presented unless otherwise stated. ## **Income recognition** All incoming resources are included in the Statement of Financial Activities when the charity is legally entitled to the income after any performance conditions have been met, the amount can be measured reliably and it is probable that the income will be received. ## **Donations** Donations are accounted for gross when received. Fixed assets gifts in kind are recognised when receivable and are included at fair value. ## **Legacies** Legacies are accounted for when probate has been completed, the amount of the legacy can be reliably quantified and the conditions of the legacy are within the control of the church. ## **Investment income** The investment income of the Church is interest on cash accounts and Baptist Union deposits, and is included in the accounts in the year in which it is receivable. ## **Expenditure recognition** All expenditure is accounted for on an accruals basis. Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties, it is probable that settlement will be required and the amount of the obligation can be measured reliably. ## **Cost of raising funds** The Church does not make formal appeals for funds, and expenditure on these items is therefore not material. Transaction fees on donations are included in gross gifts and listed as cost under Administration. Page 3 ## **HEADINGTON BAPTIST CHURCH NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2024** ## **Grants payable** The Church makes grants to other organisations whose charitable objects complement its work. They are accounted for when the recipient has been notified of the grant and payment is unconditional. ## **Support Cost** Support costs are those that assist the work of the church but do not directly represent charitable activities and include office costs and goverance costs. Most of the management is carried out without charge by volunteers. This intangible cost is not included in the Statement of Financial Activities since there is no measurable cost to the volunteers for their service. ## **Fixed Assets** Tangible fixed assets are capitalised if they can be used for more than one year and cost at least £2,000. They are initially recognised at cost, or for donated assets, at a reasonable estimate of their value on receipt. The Church buildings and manses are shown at historical cost. ## **Depreciation** Depreciation is provided on all fixed assets, other than freehold land, to write off the cost on a straight-line basis over the expected useful life, at the following rates: Freehold land_Nil Manse_Nil Church buildings_ 2% of original cost Furniture and fittings_ 10% of original cost Computers and equipment_33% of original cost ## **Funds** Unrestricted funds are available for use at the discretion of the Trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes. Designated funds comprise unrestricted funds that have been set aside by the Trustees for specific purposes. The aim and use of each designated fund is set out in the notes to the financial statements. ## **Employee Benefits** The charity operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the charity pays fixed contributions into a separate entity. Once the contributions have been paid the charity has no further payment obligations. The contributions are recognised as an expense when they are due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held seperately from the charity in an independently administered fund. Prior to 2012 pension provision was made through multi-employer defined benefit pension plans. Where it is not possible for the charity to obtain sufficient information to enable it to account for a plan as a defined benefit plan, it accounts for the plan as a defined contribution plan. Page 4 ## **HEADINGTON BAPTIST CHURCH NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2024** ## **2. Donations and legacies** |**Donations and Legacies**
Offerings
Tax refunds
One off gifts in respect of 2nd manse
Ongoing gifts in respect of 2nd manse
Tax refund in respect of 2nd manse
BCC offerings & gifts
BCC tax refunds
Total
**3. Investment Income**
**Investment Income**
Bank interest
**4. Charitable Activities Income**
**Charitable Activities Income**
Establishment
Activities
Youth events
Church weekend
**5. Other Income**
**Other Income**
Miscellaneous sundry income
Funds received for specific activities
Refunds received
BCC additional income
BCC Grant from SCBA & CEF
BCC funds received for specific activities
Income relating to superdads activity|Unrestricted
Designated
Total
Total
Funds
Funds
2024
2023
£
£
£
£
170,281
170,281
181,668
36,313
36,313
35,509
2,050
2,050
0
18,874
18,874
22,962
4,790
4,790
4,740
32,234
32,234
42,426
4,986
4,986
5,645| |---|---| ||206,594
62,934
269,528
292,950| ||Unrestricted
Designated
Total
Total
Funds
Funds
2024
2023
£
£
£
£
2,568
2,568
54| ||0
2,568
2,568
54| ||Unrestricted
Designated
Total
Total
Funds
Funds
2024
2023
£
£
£
£
2,975
2,975
2,803
8,984
8,984
10,124
2,990
2,990
0
0
1,295| ||14,949
0
14,949
14,222| ||Unrestricted
Designated
Total
Total
Funds
Funds
2024
2023
£
£
£
£
309
309
500
4,410
4,410
2,967
761
2,061
2,061
2,586
27,424
27,424
0
10,000
10,000
0
22
22
0| ||4,719
39,507
44,226
6,814| Page 5 ## **HEADINGTON BAPTIST CHURCH NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2024** ## **6. Charitable Activities Expenditure** |**Charitable Activities Expenditure**
Ministry and mission
Establishment
Total|Unrestricted
Funds
£
158,146
45,620
203,766|Designated
Funds
£
125,107
0
125,107|Total
2024
£
283,253
45,620
328,873|Total
2023
£
300,801
33,460| |---|---|---|---|---| |||||334,261| ## **7. Expenditure** |**Expenditure**
Ministry and Mission
Establishment
Cost of raising funds
**8. Grants Payable**
BUGB Home Mission
BMS World Mission
Wycliffe Bible Translators
CMS
CAP
Friends International
Flatmans
Church Community Action
Love Barton
Other small grants|Direct Charitable
Expenditure
£
242,875
45,620
118
288,613
Unrestricted
Funds
£
5,888
6,515
9,451
1,274
2,407
4,803
1,000
0
0
1,822
33,160|Grant Payable
£
40,260
40,260
Designated
Funds
£
500
5,000
1,100
500
7,100|Total
2024
£
283,135
45,620
118
328,873
Total
2024
£
5,888
7,015
9,451
1,274
2,407
4,803
1,000
5,000
1,100
2,322
40,260|Total
2023
£
5,152
7,647
8,455
1,274
2,283
4,561
0
4,585
0
500| |---|---|---|---|---| |||||34,457| Page 6 ## **HEADINGTON BAPTIST CHURCH NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2024** ## **9. Net income for the year** |Net income for the year after charging/(crediting):
Independent examiners' remuneration|2024
£
400| |---|---| ## **10. Staff costs and Trustees expenses** |**10. Staff costs and Trustees expenses**|| |---|---| |Gross wages
Employers NIC
Employers Pension
The average number of employees during the year was|2024
£
97,700
2,033
5,450| ||105,183| ||2024
4| No employee received total emoluments in excess of £60,000 during the year. The HBC Ministers are amongst the church's trustees in accordance with the Trust deed and received remuneration of £34,320 each and other benefits in respect of their services as Minister, including the provision of manse accommodation owned by the church. The Barton Minister acts as one of the church's trustees in accordance with the Trust deed and received remuneration of £28,600 and other benefits in respect of his services as Minister, including the provision of manse accommodation rented by the church. No Trustees were reimbursed in respect of expenses incurred as Trustees. The Church pays pension contributions for its Ministers to the Baptist Ministers Pension Trust Limited, which is is a final salary defined benefit scheme, which is not contracted out of the State second pension. The scheme is a multi-employer scheme and it is not possible to identify the assets and liabilities of the scheme which are attributable to the church. Therefore, in accordance with FRS102 Section 28, the scheme is accounted for as a defined contribution scheme. Page 7 ## **HEADINGTON BAPTIST CHURCH NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2024** ## **11. Tangible Fixed Assets** |Church
Manse
**Tangible Fixed Assets**
Premises
Cost
£
£
01-Apr-23
1,622,825
58,000
Additions
0
0
Disposals
0
0
31-Mar-24
1,622,825
58,000
Depreciation
01-Apr-23
454,389
0
Charge for the year
32,456
0
On disposals
0
0
31-Mar-24
486,845
0
Net book value
01-Apr-23
1,168,436
58,000
31-Mar-24
1,135,980
58,000
All of the fixed assets are used for direct charitable purposes.
**12. Debtors**
Unrestricted
Designated
Funds
Funds
£
£
Gift Aid _General
2,783
0
Gift Aid _Barton
0
250
Gift Aid _Manse
0
377
Satellites
0
0
2,783
627
**13. Creditors: amounts falling due within one year**
Unrestricted
Designated
Funds
Funds
£
£
Members' loans
0
231,600
BU Corporation Loan
0
9,983
Oxford City Council
0
7,505
SCBA Warm Spaces
0
0
Lauderdale Grant
0
7,100
Independent examiners' remuneration
400
0
400
256,188
**14. Creditors: amounts falling due after more than one year**
Unrestricted
Designated
Funds
Funds
£
£
BU Corporation Loan
0
179,684|2nd Manse
£
580,000
0
0
580,000
0
0
0
0
580,000
580,000
Total
2024
£
2,783
250
377
0
3,410
Total
2024
£
231,600
9,983
7,505
0
7,100
400
256,588
Total
2024
£
179,684|Total
£
2,260,825
0
0| |---|---|---| |||2,260,825| |||454,389
32,456
0| |||486,845| |||1,806,436| |||1,773,980| |||Total
2023
£
4,956
2,230
839
2,328| |||10,353| |||Total
2023
£
257,300
0
7,505
400
6,700
0| |||271,905| |||Total
2023
£
202,454| Page 8 ## **HEADINGTON BAPTIST CHURCH NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2024** ## **15. Designated Funds** |**15. Designated Funds**|| |---|---| |Designated Funds
Barton Fund
Second Manse Fund
New SuperDads Fund
31-Mar-24|01-Apr-23
Incoming
Resources
Transfers
31-Mar-24
Resources
Expended
£
£
£
£
£
26,084
76,705
111,279
38,127
29,637
255,385
28,282
13,828
5,000
274,839
1,636
22
0
-1,658
0| ||283,105
105,009
125,107
41,469
304,476| The designated funds are for the following purposes:Barton Fund is for the work of Barton Community Church. Second Manse Fund for the purchase of the second manse. New SuperDads Fund for work in Northway. This fund was closed during the year and monies transferred to the unrestricted funds. ## **16. Pensions** The Church is a participating employer of the Baptist Pension Scheme ('the scheme'), which is a separate legal entity administered by the Pension Trustee (Baptist Pension Trust Limited). The assets of the Scheme are held separately from those of the Employer and the other participating employers. The Scheme, previously the Baptist Ministers' Pension Fund, started in 1925 but was closed to future accrual of defined benefits on 31 December 2011. Prior to this date the main benefit provided through the Defined Benefit (DB) Plan was a pension of one eightieth of final minimum pensionable income for each year of of pensionable service together with additional pension in respect of premiums paid on Pensionable Income in excess of Minimum Pensionable Income. From January 2012, pension provision is made through the Defined Contribution (DC) Plan within the Scheme. Members pay 8% of their Pensionable Income and employers pay 6% of members' Pensionable Income into individual pension accounts that are operated and managed on behalf of the Pension Trustee by Broadstone Corporate Benefits Ltd. In addition, the employer pays a further 4% of Pensionable Income to cover Death in Service Benefits, administration costs, and an associated insurance policy which provides income protection for Scheme members if they are unable to work due to long-term incapacity. The income protection policy has been issued by the Baptist Union of Great Britain with Aviva Limited. The Scheme is considered to be a mult-employer scheme as described in Section 28 of FRS102. Because it is not possible to attribute the Scheme's assets and liabilities to specific employers, the scheme is accounted for as if the Scheme were a defined contribution scheme. Page 9 ## **HEADINGTON BAPTIST CHURCH NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2024** ## **Actuarial valuation as at 31 December 2019** A formal valuation of the DB Plan as at 31 December 2019 was carried out by a professionally qualified Actuary using the Projected Unit Method. At the valuation the market value of the DB Plan assets was £298 million, whilst the level of assets needed to pay benefits was £316m, giving a deficit of £18m (equivalent to a past service funding level of 94%). The Church and the other participating employers in the DB Plan are collectively responsible for funding this deficit. The key financial assumptions underlying the valuation were as follows |Type of assumption|%p.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 1.75%pa)|2.95| |Post retirement assumed investment returns (including benefits matched|| |by the insurance policy) (gilt yield plus 0.5%pa)|1.70| |Minimum pensionable income increase (CPI plus 0.5%)|3.20| |Deferred pension increases (based on RPI)|| |Pre April 2009|3.20| |Post April 2009|2.50| |Pension increases|| |Based on CPI with an|| |annual floor of 0% and|| |annual cap of 5%|2.70| Mortality is assumed in accordance with 80% of the S3NA standard mortality table. Future improvements projected from 2013 in line with the "CMI 2019" projection with a long-term rate improvement of 1.75% p.a. for males and 1.5% p.a. for females with the core smoothing parameter and with additional initial mortality improvement factor A=0.5%. The next actuarial valuation of the DB Plan within the Scheme is due to take place not later than as at 31 December 2022.* * The agreed Revised Schedule of Contributions for that date was confirmed and agreed in December 2023 with the Pension Actuaries and the Pension Regulator **that there is now no longer a deficit** , and so no pension provision is required. ## **Recovery Plan** At the end of June 2022, the Baptist Pension Scheme signed an agreement with the insurance company Just Group to secure members' pension benefits under the DB Plan. As a result, the Scheme no longer has a shortfall. A revised statement of contributions was announced in July 2022 with deficit contributions from each participating employer in the DB Plan reducing to just £1 per month from August 2022. See www.baptist.org.uk/pensions for more details. Page 10 ## **HEADINGTON BAPTIST CHURCH NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2024** ## **17. Related Charities** The custodian Trustee of the church is the Baptist Union Corporation Limited, charity number 249635, which is controlled by the Baptist Union Council. The church is also a member of the Baptist Union of Great Britain, and the Southern Counties Baptist Association. The church is in receipt of a loan from the Baptist Union Corporation as set out in note 13 & 14. The church received a grant from the Baptist Union Home Mission Scheme as set out in note 5 The church made a donation to the Baptist Union Home Mission Scheme as set out in note 8 The church is a member of the Evangelical Alliance (UK). Page 11 HEADINGTON BAPTIST CHURCH TRUSTEES, ANNUAL REPORT YEAR ENDED 31 MARCH 2024 Independent examiner's report to the trustees of Headington Baptist Churth I report to the trustees on my examination of the accounts of Headington Baptist Church lthe Charity) for the year ended 31 March 2024. Responslbllltles and basis of report As the charity trustees of the Charity, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Art.). I report in respect of my examination of the Charity's accounts carried out under section 145 of the 2011 Art and in carrying out my examination, I have followed all the applicable Directions given by the Charity Commission under Section 145(5llb) of the Act. Independent examlner's statement Since the Charlty's gross income ex￿eded £250,OLX) your examiner must be a member of a body Ilsted in section 145 of the 2011 Act. I confirm that l am qualified to undertake the examination because l am a member of the Assoclatlon of Accounting Technicians IMAATI which is one of the11sted bodies. I have completed my examination. I confinn that no material matters have come to my attention In connectlon with the examination giving me causeto believe that in any material respect: accounting records were not kept in respect of the Charity as required by section 130 of the Act, or the accounts do not accord with those records; or 3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2cL18 other than any requirement that the accounts 8j.ve a 'true and fair vlew which is not a matter considered as part of an independent examination. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understsnding of the accounts to be reached. Maria Taylor MAAT, A Marla Taylor Accountancy Services 5 Coxwold View Wetherby West Yorkshlre LS22 7PU Date: 2 January 2025