| Page | |||
|---|---|---|---|
| Reference and Administrative Details |
|||
| Report ofthe Trustees | 2 | to | 5 |
| Report ofthe Independent Auditors |
6 | to | 9 |
| Statement of Financial Activities | 10 | ||
| Balance Sheet | |||
| Cash Flow Statement | 12 | ||
| Notes to the Cash Flow Statement | 13 | ||
| Notes to the Financial Statements | 14 | to | 24 |
| Detailed Statement of Financial Activities | 25 | to | 26 |
| TRUSTEES | Donald Campbell |
|---|---|
| Laurie Marshall | |
| Judy Hyde | |
| Mark Maybury | |
| Louise Gore | |
| Mark Steel | |
| PRINCIPAL ADDRESS | Trinity Hill |
| Sutton Coldfield | |
| West Midlands | |
| B72 1TA | |
| REGISTERED CHARITY | 1131309 |
| NUMBER | |
| AUDITORS | Wallace Crooke |
| Chartered Accountants |
|
| &Registered Auditors |
|
| Wallace House | |
| 20 Birmingham Road |
|
| Walsall | |
| West Midlands | |
| WS1 2LT | |
| BANKERS | Lloyds Bank Pic |
| Birmingham Road |
|
| Sutton Coldfield | |
| West Midlands | |
| B72 1QA |
| trustees who have |
served during the year and |
|---|---|
| Donald Campbell | Team Leader / Minister |
| Laurie Marshall | Elder |
| Louise Gore | Elder |
| Judy Hyde | Elder |
| Mark Maybury | Elder |
| Mark Steel | Administrator |
| FOR THE Y | EAR END | ED 31 DECE | MBER 2022 | |||||
|---|---|---|---|---|---|---|---|---|
| 2022 | 2021 | |||||||
| Unrestricted | Restricted | Total | Total | |||||
| funds | fund | funds | funds | |||||
| Notes | F | |||||||
| INCOME AND ENDOWMENTS | FROM | |||||||
| Donations and legacies |
740,293 | 66,124 | 806,417 | 771,486 | ||||
| Charitable activities |
||||||||
| Organisations | 1,515 | 1,515 | 8,056 | |||||
| Second Thoughts | 11,891 | 11,891 | 38,586 | |||||
| Under 5s | 11,763 | 11,763 | ||||||
| Other trading activities |
916 | 916 | 838 | |||||
| Investment income |
1,374 | 1,374 | 418 | |||||
| Total | 742,583 | 91,293 | 833,876 | 819,384 | ||||
| EXPENDITURE ON | ||||||||
| Charitable activities |
||||||||
| Organisations | 20,286 | 20,286 | 23,882 | |||||
| Facilities | 69,957 | 69,957 | 97,593 | |||||
| Mission | 150,266 | 2,736 | 153,002 | 146,354 | ||||
| Children 8 Young People |
30,872 | 30,872 | 6,795 | |||||
| Employment Costs |
388,548 | 388,548 | 334,462 | |||||
| Sundry Expenses | 66,791 | 12,523 | 79,314 | 49,666 | ||||
| Administration | 49,235 | 28,883 | 78,118 | 31,905 | ||||
| Administration staff |
61,774 | |||||||
| Depreciation | 6,000 | 37,024 | 43,024 | 53,110 | ||||
| Bank charge | 1,116 | 1,116 | 1,206 | |||||
| Legal fees | 2,229 | 2,229 | 1,596 | |||||
| Audit fee | 4,170 | 4,170 | 3,450 | |||||
| Total | 769,184 | 101,452 | 870,636 | 811,793 | ||||
| NET INCOMEI(EXPENDITURE) | (26,601) | (10,159) | (36,760) | 7,591 | ||||
| Transfers between |
funds | 19 | 5,001 | (5,001) | ||||
| Net movement in funds |
(21,600) | (15,160) | (36,760) | 7,591 | ||||
| RECONCILIATION | OF FUNDS | |||||||
| Total funds brought | forward | 1,069,998 | 307,728 | 1,377,726 | 1,370,135 | |||
| TOTAL FUNDS CARRIED | FORWARD | 1,048,398 | 292,568 | 1,340,966 | 1,377,726 | |||
| CONTINUING OPERATIONS |
||||||||
| All income and expenditure | has | arisen from | continuing | activities. |
| BALANCE SHEET | |||
|---|---|---|---|
| 31 DECEMBER 2022 | |||
| 2022 | 2021 | ||
| Notes | F | ||
| FIXEDASSETS | |||
| Tangible assets | 13 | 1,134,265 | 1,129,385 |
| CURRENT ASSETS | |||
| Debtors | 14 | 54,887 | 64,143 |
| Cash at bank and in hand | 15 | 170,400 | 188,061 |
| 225,287 | 252,204 | ||
| CREDITORS | |||
| Amounts falling due within one year |
16 | (18,586) | (3,863) |
| NET CURRENT ASSETS | 206,701 | 248,341 | |
| TOTAL ASSETSLESSCURRENT | |||
| LIABILITIES | 1,340,966 | 1,377,726 | |
| NET ASSETS | 1,340,966 | 1,377,726 | |
| FUNDS | 19 | ||
| Unrestricted funds: |
|||
| General fund |
13,739 | 17,672 | |
| Designated | 1,034,659 | 1,052,326 | |
| 1,048,398 | 1,069,998 | ||
| Restricted funds | 292,568 | 307,728 | |
| TOTAL FUNDS | 1,340,966 | 1,377,726 |
| FOR TH | E YEAR ENDED 3 | 1 DECEMBER 2022 | |||
|---|---|---|---|---|---|
| 2022 | 2021 | ||||
| Notes | |||||
| Cash flows from | operating | activities | |||
| Cash generated from operations |
29,793 | 42,801 | |||
| Net cash provided | by operating activities |
29,793 | 42,801 | ||
| Cash flows from | investing | activities | |||
| Purchase oftangible fixed assets |
(47,454) | ||||
| Net cash (used in)/provided | by investing | activities | (47,454) | ||
| Change in cash |
and cash | equivalents | |||
| in the reporting | period | (17,661) | 42,801 | ||
| Cash and cash equivalents | at the | ||||
| beginning ofthe |
reporting | period | 188,061 | 145,260 | |
| Cash and cash equivalents | at the end | ||||
| ofthe reporting | period | 170,400 | 188,061 |
| RECONCILIATION OF NET (EXPENDITURE ACTIVITIES |
)/INCOME TO NET CAS |
H FLOW FROM O | PERATING |
|---|---|---|---|
| 2022 | 2021 | ||
| Net (expenditure)/income for the reporting |
period (as per the | ||
| Statement of Financial Activities) | (36,760) | 7,591 | |
| Adjustments for: |
|||
| Depreciation charges |
42,574 | 53,110 | |
| Decrease/(increase) in debtors |
9,256 | (17,102) | |
| Increase/(decrease) in creditors |
14,723 | (798) | |
| Net cash provided by operations |
29,793 | 42,801 |
| ANALYSIS OF C | HANGES IN NET FUNDS |
|||
|---|---|---|---|---|
| At 1/1/22 | Cash flow | At 31/12/22 | ||
| F | F | |||
| Net cash | ||||
| Cash at bank and | in hand | 188,061 | (17,661) | 170,400 |
| 188,061 | (17,661) | 170,400 | ||
| Total | 188,061 | (17,661) | 170,400 |
| 2022 | 2021 | ||||||
|---|---|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | Total | ||||
| funds | funds | funds | funds | ||||
| F | F | F | |||||
| Other income | 916 | 916 | 838 | ||||
| In 2021, trading | activity income | was all attributable | to unrestricted | funds. | |||
| INVESTMENT INCOME | |||||||
| 2022 | 2021 | ||||||
| Unrestricted | Restricted | Total | Total | ||||
| funds | funds | funds | funds | ||||
| F | F | F | |||||
| Deposit account | interest | 1,374 | 1,374 | 297 | |||
| Loan interest | 121 | ||||||
| 1,374 | 1,374 | 418 |
| INCOME FROM CHAR | ITABLE ACTIVITIES | ||||
|---|---|---|---|---|---|
| 2022 | 2021 | ||||
| Second | Total | Total | |||
| Organisations | Thoughts | Under 5s | activities | activities | |
| F | F | F | |||
| Organisation s | 1,515 | 1 "l,763 | 13,278 | 8,056 | |
| Second Thoughts | 11,891 | 11,891 | 38,586 | ||
| 1,515 | 11,891 | 11,763 | 25,169 | 46,642 |
| Income | Expenditure | Net |
|---|---|---|
| F | F | |
| 11,891 | 16,916 | (5,025) |
| CHARITABL | E ACTIVITIES COSTS | ||||
|---|---|---|---|---|---|
| Direct | Support | ||||
| Costs (see | costs (see | ||||
| note 8) | note 9) | Totals | |||
| E | |||||
| Organisations | 20,286 | 20,286 | |||
| Facilities | 69,957 | 69,957 | |||
| Mission | 153,002 | 153,002 | |||
| Children 8 Young People |
30,872 | 30,872 | |||
| Employment | Costs | 388,548 | 388,548 | ||
| Sundry Expenses | 79,314 | 79,314 | |||
| Administration | 78,118 | 78,118 | |||
| Depreciation | 43,024 | 43,024 | |||
| Bank charge | 1,116 | 1,116 | |||
| Legal fees | 2,229 | 2,229 | |||
| Audit fee | 4,170 | 4,170 | |||
| 741,979 | 128,657 | 870,636 | |||
| DIRECT COSTS OF CHARITABLE | ACTIVITIES | ||||
| Unrestricted | Restricted | 2022 | 2021 | ||
| F | F | E | |||
| Facilities | 69,957 | 69,957 | 97,593 | ||
| Mission | 150,266 | 2,736 | 153,002 | 146,354 | |
| Children 8 Young People |
30,872 | 30,872 | 6,795 | ||
| Employment | costs | 388,548 | 388,548 | 334,462 | |
| Sundry Expenses | 66,791 | 12,523 | 79,314 | 49,666 | |
| Organisation | 20,286 | 20,286 | 23,882 | ||
| 706,434 | 35,545 | 741,979 | 658,752 |
| SUPPORT C | OSTS | ||||||
|---|---|---|---|---|---|---|---|
| Unrestricted | Restricted | 2022 | 2021 | ||||
| F | |||||||
| Administration | 49,235 | 28,883 | 78,118 | 31,905 | |||
| Administrative | staff | 61,774 | |||||
| Depreciation | 7,411 | 35,613 | 43,024 | 53,110 | |||
| Governance: | Audit | fee | 4,170 | 4,170 | 3,450 | ||
| Bank | chgs | 1,116 | 1,116 | 1,206 | |||
| Legal | fees | 2,229 | 2,229 | 1,596 | |||
| 64,161 | 64,496 | 128,657 | 153,041 |
| 2022 | 2021 | |
|---|---|---|
| F | ||
| Remuneration | 78,801 | 82,526 |
| Pension | 15,171 | 19,828 |
| 2022 | 2021 | ||||||||
|---|---|---|---|---|---|---|---|---|---|
| E | |||||||||
| Wages and salaries | 326,295 | 335,557 | |||||||
| Social security | costs | 25,562 | 26,357 | ||||||
| Other pension | costs | 39,939 | 45,509 | ||||||
| 391,796 | 407,423 | ||||||||
| The average | monthly | number ofemployees | during the year was as follows: | ||||||
| 2022 | 2021 | ||||||||
| Employee | 14 | 14 | |||||||
| No employees | received emoluments | in | excess ofF60,000. | ||||||
| ANALYSIS OF GRANTS | |||||||||
| The largest grants | made by the Church | during the year were as follows: | |||||||
| 2022 | 2021 | ||||||||
| 24/7 | 10,250 | 22,500 | |||||||
| Agape | 2,500 | 3,000 | |||||||
| Baptist Missionary | Society | 16,000 | 16,000 | ||||||
| Claytons | 11,500 | ||||||||
| ECM | 12,250 | 10,000 | |||||||
| Frontiers | 2,000 | ||||||||
| Go Africa | 1,500 | ||||||||
| Heart of England | Baptist Association | 30,658 | 28,500 | ||||||
| Jericho Foundation | 7,000 | 6,500 | |||||||
| Latin Link | 5,000 | ||||||||
| Operation Mobilisation |
4,200 | ||||||||
| Reach Across | 7,200 | 5,000 | |||||||
| Sparkbrook | 1,200 | ||||||||
| Wilsons | 2,500 | ||||||||
| Wycliffe Bible | Translators | 10,255 | 10,000 | ||||||
| Sudan Project | 1,300 | ||||||||
| Egypt Project | 2,000 |
| FOR THE YEAR | ENDED 31 DECE | MBER 2022 | |||
|---|---|---|---|---|---|
| 12. | ANALYSIS OF GRANTS - continued | ||||
| 120,583 | 108,20 | ||||
| 13. | TANGIBLE FIXEDASSETS | ||||
| Fixtures | |||||
| Long | and | Motor | |||
| leasehold | fittings | vehicles | Totals | ||
| F | F | ||||
| COST | |||||
| At 1 January 2022 | 1,390,550 | 86,905 | 45,588 | 1,523,043 | |
| Additions | 42,000 | 5,454 | 47,454 | ||
| At 31 December 2022 | 1,432,550 | 92,359 | 45,588 | 1,570,497 | |
| DEPRECIATION | |||||
| At 1 January 2022 | 261,440 | 86,630 | 45,588 | 393,658 | |
| Charge for year | 41,163 | 1,411 | 42,574 | ||
| At 31 December 2022 | 302,603 | 88,041 | 45,588 | 436,232 | |
| NET BOOK VALUE | |||||
| At 31 December 2022 | 1,129,947 | 4,318 | 1,134,265 | ||
| At 31 December 2021 | 1,129,110 | 275 | 1,129,385 | ||
| 14. | DEBTORS | ||||
| 2022 | 2021 | ||||
| F | |||||
| Amounts falling due within one year: |
|||||
| Other debtors | 2,405 | 965 | |||
| Short term deposit | 26,122 | 31,187 | |||
| Income tax recoverable | 11,374 | 11,899 | |||
| Employee loan |
5,000 | 5,000 | |||
| Prepayments | 3,736 | 3,842 | |||
| 48,637 | 52,893 | ||||
| Amounts falling due after more than one |
year: | ||||
| Employee loan |
6,250 | 11,250 | |||
| Aggregate amounts |
54,887 | 64,143 |
| CASH AT BANK AND IN H | AND | ||||
|---|---|---|---|---|---|
| 2022 | 2021 | ||||
| General | Total | Total | |||
| fund | Designated | Restricted | funds | funds | |
| F | F | ||||
| Cash in hand | 50 | 50 | 50 | ||
| Bank current account | |||||
| no. 1 | 6,510 | 69,740 | 10,776 | 87,026 | 107,095 |
| Bank current account | |||||
| no. 2 | 1 | 1 | |||
| Bank deposit account | 2,569 | 45,499 | 29,575 | 77,643 | 76,269 |
| Card collection accounts | 5,680 | 5,680 | 4,647 | ||
| Total | 14,810 | 115,239 | 40,351 | 170,400 | 188,061 |
| 2022 | 2021 |
|---|---|
| E | E |
| 18,586 | 3,863 |
| Minimum lease payments under non-cancellable ope |
rating leases fall due as follows: |
|
|---|---|---|
| 2022 | 2021 | |
| F | ||
| Within one year | 13,260 | 14,960 |
| Between one and five years | 12,240 | 25,500 |
| 25,500 | 40,460 |
| ANALY | SIS OF NET ASSETS | BETWEEN FUNDS | |||
|---|---|---|---|---|---|
| 2022 | 2021 | ||||
| Unrestricted | Restricted | Total | Total | ||
| funds | fund | funds | funds | ||
| E | E | E | |||
| Fixed assets | 908,170 | 226,095 | 1,134,265 | 1,129,385 | |
| Current | assets | 158,814 | 66,473 | 225,287 | 252,204 |
| Current | liabilities | (18,586) | (18,586) | (3,863) | |
| 1,048,398 | 292,568 | 1,340,966 | 1,377,726 |
| Opening | Incoming | Resources | Transfers | Closing | |||
|---|---|---|---|---|---|---|---|
| Balance | Resources | Expended | Balance | ||||
| Glory group | 283 | 252 | 80 | (110) | 345 | ||
| Organisation | funds/ | ||||||
| Under 5s | 2,184 | 13,278 | 3,369 | (10,838) | 1,255 | ||
| Second Thoughts | 30,394 | 11,891 | 16,916 | 25,369 | |||
| Manse fund | 39,750 | 39,750 | |||||
| Special offerings | 9,426 | 11,281 | 12,443 | 8,264 | |||
| Mission trips | 226 | 1,750 | 2,736 | 1,000 | 240 | ||
| Building project | 175,465 | 47,905 | 37,025 | 186,345 | |||
| Renovation | fund | 50,000 | 4,936 | 28,883 | 4,947 | 31,000 | |
| 307,728 | 91,293 | 101,452 | (5,001) | 292,568 | |||
| Unrestricted/ | |||||||
| Designated | Funds | ||||||
| Opening | Incoming | Resources | Transfers | Closing | |||
| Balance | Resources | Expended | Balance | ||||
| Capital fund | 914,170 | 6,000 | 908,170 | ||||
| General fund | 17,673 | 629,517 | 516,257 | (117,194) | 13,739 | ||
| Contingency | fund | 88,216 | 1,225 | (5,749) | 83,692 | ||
| Community | 8,308 | 64,229 | 63,354 | 2,750 | 11,933 | ||
| Mission 8 External | |||||||
| Giving | 9,637 | 129,563 | 119,888 | (38) | |||
| Lunch club | 1,017 | 2,967 | 2,435 | (550) | 999 | ||
| Outreach | 460 | 2,933 | 6,545 | 3,612 | 460 | ||
| Pastoral | 38,403 | 5,032 | 14,158 | (2,900) | 26,377 | ||
| Repairs Holland | Road | 619 | 892 | 1,511 | |||
| Youth | 417 | 27,043 | 30,872 | 4,252 | 840 | ||
| Youth Mission | 715 | 715 | |||||
| 1,069,998 | 751,963 | 769,184 | 5,001 | 1,048,398 |
| professionally qualified |
A | ctuar | y | usi | ng the | P | rojected Unit Method. |
rojected Unit Method. |
rojected Unit Method. |
|
|---|---|---|---|---|---|---|---|---|---|---|
| BDSDB plan | ||||||||||
| Date ofvaluation | 31 | December 2019 | ||||||||
| Market value ofscheme | assets | |||||||||
| (A) | 8300m | |||||||||
| Technical provisions | (B) | F318m | ||||||||
| Deficit [(B)-(A)] | 818m | |||||||||
| Finding level [(A)/(B)] |
94o/o | |||||||||
| The key financial assumptions | underlying | the valuation | were as follows: | |||||||
| Type ofassumption | '/o pa | |||||||||
| RPI price inflation assumption |
3.20 | |||||||||
| CPI price inflation assumption |
2.70 | |||||||||
| Minimum Pensionable |
Income | Increases | (above CPI) | 0.50 | ||||||
| Assumed investment |
returns | |||||||||
| Pre-retirement assumed |
investment | returns | (gilt yield plus | |||||||
| 1.75'/o pa) | 2.95 | |||||||||
| Post retirement assumed |
investment returns |
(including | ||||||||
| benefits matched by the |
insurance | policy) (gilt yield plus | ||||||||
| 0 5o/o pa) | 1.70 | |||||||||
| Deferred pension increases (based | on RPI) | 3.20 | ||||||||
| Pre April 2009 | 3.20 | |||||||||
| Post April 2009 | 2.50 | |||||||||
| Pension increases | ||||||||||
| Based on CPI with an | annual | floor | of 0'/o | and | annual cap of | |||||
| 5o/o | 2.7 |
| FOR THE YE | AR ENDED 31 DECE | MBER 2022 | |||||
|---|---|---|---|---|---|---|---|
| 2022 | 2021 | ||||||
| Unrestricted | Restricted | Total | Total | ||||
| funds | funds | funds | funds | ||||
| INCOME AND | ENDOWMENTS | ||||||
| Donations and Offerings |
legacies | 519,187 | 519,187 | 528,178 | |||
| Giff aid | 106,442 | 106,442 | 117,999 | ||||
| Fees | 27,043 | 27,043 | 5,060 | ||||
| Special offering Donated services and facilities |
87,621 | 11,281 54,843 |
11,281 142,464 |
12,330 107,919 |
|||
| 740,293 | 66,124 | 806,417 | 771,486 | ||||
| Other trading Other income |
activities | 916 | 916 | 838 | |||
| Investment income |
|||||||
| Deposit account | interest | 1,374 | 1,374 | 297 | |||
| Loan interest | 121 | ||||||
| 1,374 | 1,374 | 418 | |||||
| Charitable activities |
|||||||
| Organisations | 13,278 | 13,278 | 8,056 | ||||
| Second Thoughts | 11,891 | 11,891 | 38,586 | ||||
| 25,169 | 25,169 | 46,642 | |||||
| Total incoming | resources | 742,583 | 91,293 | 833,876 | 819,384 | ||
| EXPENDITURE | |||||||
| Charitable activities |
|||||||
| Wages Social security |
326,295 25,562 |
326,295 25,562 |
335,557 26,357 |
||||
| Pensions | 39,939 | 39,939 | 45,509 | ||||
| Facilities | 69,957 | 69,957 | 97,593 | ||||
| Mission | 150,266 | 2,736 | 153,002 | 146,354 | |||
| Children 5Young People | 30,872 | 30,872 | 6,795 | ||||
| Employment costs |
(3,248) | (3,248) | (72,961) | ||||
| Sundry Expenses | 66,791 | 12,523 | 79,314 | 49,666 | |||
| Organisation | 20,286 | 20,286 | 23,882 | ||||
| 706,434 | 35,545 | 741,979 | 658,752 | ||||
| Support costs | |||||||
| Management | |||||||
| Administration | 49,235 | 28,883 | 78,118 | 31,905 | |||
| Administrative | staff | 61,774 | |||||
| Depreciation | oftangible | and heritage | |||||
| assets | 6,000 | 37,024 | 43,024 | 53,110 | |||
| 55,235 | 65,907 | 121,142 | 146,789 |
| FOR TH | E YEAR ENDED 31 DECE | MBER 2022 | |||
|---|---|---|---|---|---|
| 2022 | 2021 | ||||
| Unrestricted | Restricted | Total | Total | ||
| funds | funds | funds | funds | ||
| E | E | ||||
| Management | |||||
| Governance | costs | ||||
| Auditors' remuneration |
4,170 | 4,170 | 3,450 | ||
| Accountancy | and legal fees | 2,229 | 2,229 | 1,596 | |
| Bank charges | 1,116 | 1,116 | 1,206 | ||
| 7,515 | 7,515 | 6,252 | |||
| Total resources | expended | 769,184 | 101,452 | 870,636 | 811,793 |
| Net income | (26,601) | (10,159) | (36,760) | 7,591 |