FishpondsBaptistChurch fft@pofftr INO ONAfrICOAL sfATEM6Nrs Y@AQ TO 3Isr OE¢Efft400EQ 2020 ## **FISHPONDS BAPTIST CHURCH** ## **CONTENTS** **Report for 2020** ............................................................................................................................................ 3 Full Name, Address and Introduction of the Church .............................................................................. 3 Objects ................................................................................................................................................... 3 Aims ........................................................................................................................................................ 3 Public benefit .......................................................................................................................................... 3 Leadership .............................................................................................................................................. 4 Independent Examiner and Bankers ...................................................................................................... 4 Main Focus of Activities ......................................................................................................................... 5 Fellowship .............................................................................................................................................. 6 Custodian Trustee .................................................................................................................................. 6 Concluding Remarks .............................................................................................................................. 6 **Leadership and Officers** ............................................................................................................................. 7 **Income** ......................................................................................................................................................... 8 Gift Aid .................................................................................................................................................... 8 Regular Giving ........................................................................................................................................ 8 Investment Income ................................................................................................................................. 8 Other Income .......................................................................................................................................... 8 **Expenditure** Grant Making Policy ............................................................................................................................... 8 Accounts Overview ....................................................................................................................................... 8 Reserves ....................................................................................................................................................... 8 Statement of Trustees’ Responsibilities ....................................................................................................... 9 **Report of Independent Examiner** ………………………………………………………………………....…….10 **Statement of Financial Activities (SOFA)** ............................................................................................... 11 **Balance Sheet** ........................................................................................................................................... 12 **Notes to the Financial Statements** Note 1 - Basis of Accounts and Accounting Policies .................................................................. 13-14 Note 2 - Offerings ............................................................................................................................. 15 Note 3 – Gift Aid ............................................................................................................................... 15 Note 4 – Ministry ............................................................................................................................... 15 Note 5 – Governance costs .............................................................................................................. 16 Note 6 – Trustees Remuneration and Expenses ............................................................................ 16 Note 7 – Mission/Good Causes ........................................................................................................ 16 Note 8 – Buildings, Maintenance and Equipment ............................................................................ 17 Note 9 – Wages and Salaries ........................................................................................................... 17 Note 10 - Fund Comparatives for the SoFA...................................................................................... 18 Note 11 – Fixed Assets ...................................................................................................................... 19 Note 12 – Current Assets ................................................................................................................... 19 Note 13 – Amounts Falling Due Within One Year .............................................................................. 19 Note 14 – Amounts Falling Due After One Year ................................................................................ 19 Note 15 – Reconciliation of Movements in Funds ....................................................................... 20 - 21 Note 16 – Pension Scheme Liabilities ....................................................................................... 22 – 23 Note 17 – Related Party Transactions……………………………………………………………………...23 2 ## **FISHPONDS BAPTIST CHURCH** ## **REPORT FOR 2020** ## **Full Name, Address and Introduction of the Church** Fishponds Baptist Church, Downend Road, Fishponds, Bristol BS16 5AS, is incorporated under a Charitable Deed of Trust. The Church is a registered charity (1131411) and is registered in England and Wales. The Church Office Telephone Number is 0117 965 3421. The Church, which is affiliated to the Baptist Union of Great Britain and Ireland and the West of England Baptist Association, aims to uphold the Declaration of Principle of the aforesaid Baptist Union, which is: - That our Lord and Saviour Jesus Christ, God manifest in the flesh is the sole and absolute authority in all matters pertaining to faith and practice, as revealed in the Holy Scriptures, and that each Church has liberty, under the guidance of the Holy Spirit, to interpret and administer His Laws. - That Christian Baptism is the immersion in water in the Name of the Father, the Son and the Holy Spirit, of those who have professed repentance towards God and faith in our Lord Jesus Christ who “died for our sins according to the Scriptures; was buried, and rose again on the third day.” - That it is the duty of every disciple to bear personal witness to the Gospel of Jesus Christ, and to take part in the evangelisation of the world. ## **Objects** The Charity is governed by an Approved Governing Document which states that the principal purpose of the charity is the advancement of the Christian faith according to the principles of the Baptist denomination to include the advancement of education, community service and such other general charitable purposes in such parts of the United Kingdom and the world as the Church shall determine. ## **Aims** The main aim and objective of Fishponds Baptist Church (FBC) is Spiritual Evangelism. At the heart of the Church is its ministry to the membership, congregation, and the wider community at large in order that the messages contained in Scripture are shared and celebrated and the understanding and acceptance that Jesus Christ is the Lord and Saviour grows. FBC is gifted in practical terms as the church has a range of resources and facilities that enable fellowship to be enjoyed, not just on Sunday but also on a continuous basis. The church is also organised into smaller networks for fellowship through fortnightly house group meetings and care / wellbeing through a care group structure which encourages a sense of personal belonging within what is quite a large congregation. In order to maintain and develop its ministry, premises and facilities, FBC collects donations, predominantly from the congregation. These donations also provide the opportunity to contribute financially to a wide range of Faith based organisations both within the UK and overseas providing a variety of outreach and ministry programmes or practical projects. ## **Public Benefit** We have referred to the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing our aims and objectives and in planning our future activities. FBC is committed to be a place of worship of God for the people who live in Fishponds and neighbouring communities. All are warmly welcomed when they enter the church and the services are different (morning - more traditional; evening - more open and less structured) so that all should be able to worship God in a way that they are comfortable with. 3 ## **FISHPONDS BAPTIST CHURCH** Under normal circumstances (i.e. not subject to a pandemic), FBC is committed to serving the community in a number of ways, for example, the premises and facilities are used constantly by a wide variety of groups who hold regular meetings. These groups include fellowship groups (house groups, luncheon club, mums and toddler groups), the uniformed groups (Beavers, Cubs, Scouts, Rainbows, Brownies and Guides), as well as other gatherings enabling the Good News about Jesus to be shared more widely (Holiday Bible Club, Alpha courses, Baptismal Classes to name a few). On Sunday mornings, FBC runs an event called "Kidz Alive", for children from the local community as well as those associated with the church. As well as hearing stories from the Bible, the children play games, and do craft activities. ## **Leadership** The Deacons, who are the Managing Trustees of the charity, administer the Church. Charity Law requires trustees to prepare annual accounts which consist of a Balance Sheet and Statement of Financial Activities, together with accompanying notes, and which give a true and fair view of the state of affairs of the charity at the end of the financial year and of its income and expenditure, in line with FRS102 SoRP. Members are voted onto the Diaconate by the membership at the Church’s Annual General Meeting and generally serve for three years. Deacons fulfil their role on a voluntary basis and are assisted by many other volunteers helping within all areas of the Church. The Pastors (Ministers) who are “Holders of Office” and are paid employees of the church, also sit on the Diaconate. The present Deacons are listed in full on page 7. ## **Independent Examiner and Bankers** The appointed Independent Examiner of the Church is Neil Kingston FCA, Burton Sweet, The Clock Tower, 5 Farleigh Court, Old Weston Road, Flax Bourton, Bristol BS48 1UR The Church’s bankers are CAF Bank Ltd, 25 Kings Hill Avenue, Kings Hill, West Malling and NatWest Bank Plc, 778 Fishponds Rd, Fishponds, Bristol. 4 ## **FISHPONDS BAPTIST CHURCH** ## **Main Focus of Activities** The Covid-19 pandemic caused 2020 to be a very different year within the life of FBC. With the exception of our morning service and Foodbank nearly all our regular face to face activities regretfully had to cease. The muchappreciated leadership of Aaron Beale and David Courthold enabled the church to successfully transition to the online streaming of our services and provide us with the ability to pre-record daily mid-week devotionals (during lockdown 1) and to run online Alpha. Steve Douglas has also been invaluable in overseeing further enhancements of our church internet provision as well as improving other important aspects of fabric and fixtures around the building. Despite the constraints we have faced we have succeeded in always having the church open on Sundays (when government regulations have allowed) albeit in very much reduced numbers. We have also had some wonderful baptisms where we have all been repeatedly reminded of God’s transforming power in people’s lives. Particular acknowledgement needs to be made to our fantastic Foodbank team who under the wise and energetic leadership of Ruth Hamburgh have been busier than could ever have been imagined and have had to adapt repeatedly to changing Covid-19 regulations. The work of the Foodbank team at Christmas was one of their standout points of service. Through our partnership with a local charity and in addition to our regular Foodbank provision we spent nearly £2000 on the provision of Christmas hampers, feeding 216 people in 94 hampers. We catered for foodbank clients and local residents known through church, two St Mungo’s women’s hostels and two local temporary accommodations. As always we are very appreciative of the efforts of the whole ministry team as they responded innovatively to the challenges of the pandemic, skilfully adapting the nature of their work with families, youth, our Hope into Action tenants and those in need of pastoral care across the church. It has been with particular joy that we welcomed Natalie Smith onto the team in September as an intern – she is already proving to be a fantastic asset! A further significant change at a ministry team level is that the church members agreed for Rev Richard Pollard to work one day a week for a mission agency where he will be involved in the training of indigenous church planters across different nations. During the year we also spent constructive time in some church members’ meetings discussing the findings of our very helpful mission audit which was facilitated by leadership team members of Welton Baptist near the start of the year. In particular, the audit encouraged us to strengthen the inward facing nature of our church life and associated conversations and ideas have now begun in this direction. A further highlight of the year was a fantastic series of online Bible studies on Revelation led by Rev Dr Pieter Lalleman from Spurgeon’s College. As always, we are hugely grateful to everyone - both volunteers and paid staff for their unstinting involvement which enables the work of FBC to be carried out in such a committed, positive and effective manner. We are also particularly mindful this year of all those who have been directly affected by the pandemic with its multi-faceted challenges that it has brought into all our lives. Our church community with its richness of life and Christ-centred hope has undoubtedly proved invaluable to many during this most challenging of times. 5 ## **FISHPONDS BAPTIST CHURCH** ## **Fellowship** The following six people attested to their faith by going through the waters of baptism in obedience to scripture: Martin Hickey Leo Pemberton Jonathan and Kristy Brown Mark and Monika Smith Our Fellowship now has a membership of 176. The changes to our membership were as follows: ## **New Members** Miroslav Szczotka Leo Pemberton Kristy Brown Jonathan Brown Martin Hickey Mark Smith Monika Smith ## **Resignations** Linda Payne Richie Betts Eleanor Chapman Esther Willetts **Transfer In** None ## **Transfer Out to Another Church** Matthew & Mags Farrow – to Totterdown Baptist ## **Deceased** The following were called to be with the Lord: Hilary Thomas Ray Blenkiron Jane Atkin Barbara Gallacher Glenys Dawes Joyce Taverner Philip Bush ## **Custodian Trustee** The Custodian Trustee for the Church is the West of England Baptist Association (Incorporated), known as Webnet. The Trust holds in trust the title deeds of the Church properties. ## **Concluding Remarks** We are grateful to all those who have contributed to the work at FBC throughout this past year. A church is dependent on the commitment of its membership and here at Fishponds we have many who work tirelessly and without recognition. To these we give our heartfelt thanks and pray that God will bless them in the days that lie ahead. Finally, we record on behalf of the fellowship our gratitude to Richard Pollard and the diaconate for their work in leading and guiding us under God’s headship. 6 ## **FISHPONDS BAPTIST CHURCH** ## **LEADERSHIP AND OFFICERS** ## **Senior Minister:** Reverend Dr Richard T. Pollard (appointed 1 August 2012) ## **Minister in Training:** Miss Kathryn James ## **Church Treasurer:** Mr Peter Keenan **Part-time Youth Worker and Children’s Worker:** Mr Aaron Beale (appointed November 2019) ## **Part-time Families Worker:** Mrs Radostina Vasileva (appointed March 2019) **Part-time Hope in Action Worker:** Mrs Ruth Hamburgh (appointed February 2020) ## **Part-time Hope in Action Worker:** Mrs Susan Foster (appointed November 2020) ## **Intern:** Miss Natalie Smith (from September 2020) **Diaconate:** For the purpose of this report, deacons are also trustees. Senior Minister, Minister in Training and Treasurer, plus ## **Deacons:** Mrs Saleema Gondal (ended March 2020) Miss Emma Gundy Mr Gareth Jones Mr Scott Taylor Mr Vasil Vasilev (from September 2020) ## **Finance Team:** Church Treasurer plus: Church Accountant: Mr Andrew Roper Assistant Accountant: Mr Geoff Pollard Wages and Salaries Administration: Mr Peter Keenan Gift Aid: Mr Geoff Pollard Collection Counting Team Leader: Mrs Rachel Betts ## **Part-time Pastoral Care Worker:** Mr Elvyn Jones ## **Pastoral Care Team:** Mrs Helen Davies Mr Phillip Evans and Mrs Maureen Evans Mrs Lynn Douglas ## **Administration Team:** Pulpit secretary: Vacant Registrar: Vacant Office Manager and Lettings Officer: Mrs Rachel Betts Administrative Co-ordinator: Vacant **Buildings Manager:** Mr Stephen Douglas **Chief Steward:** Vacant 7 ## **FISHPONDS BAPTIST CHURCH** ## **INCOME** ## **GIFT AID** The amount shown in the accounts for income tax reclaimed in 2020 is £29,797 (2019 - £57,459). By the end of the year, 56 active supporters had signed Gift Aid Declarations and had given during 2020. ## **REGULAR GIVING** Loose cash and cheques received on a weekly basis decreased by 51% compared with the previous year. There was an increase in Bank transfers received for unrestricted funds of 16% year on year, and a reduction in weekly envelopes of 47%. In all, the total cash donated by members and worshippers, excluding members gift and sundry income, amounted to an average of £2,486 per week, a 0.5% increase on the previous year. ## **INVESTMENT INCOME** The church follows a ‘low risk’ policy when investing its surplus cash which is normally placed on deposit (short notice or instant access) with the Bank. Whilst the interest yield is not substantial, the deacons consider that the overriding requirement is to protect the sum invested. ## **OTHER INCOME** During the year we benefited from gifts and donations from Church organisations for use of premises and general support. ## **EXPENDITURE** Giving to good causes and mission, including direct giving, increased to £32,721 (2019 - £23,595). ## **GRANT MAKING POLICY** The amount of support given to missionaries is voted on by the Committee at the Annual General Meeting. ## **ACCOUNTS OVERVIEW** The Balance Sheet of the Church shows that Total Assets (which excludes any value for Land and Buildings relating to the Church premises) have increased by £66,383 (2019: £159,175) in the last year. This is due to the overall net surplus on the general fund of £3,401 (2019: £5,454) and £30,627 (2019: £149,095) of restricted funds including a defined benefit pension scheme gain in period of £32,355 (2019: £4,626). ## **RESERVES** As a result of careful planning and expense management, the Church generally operates a “balanced budget”. The holding, maintaining and building up of reserves (in the General Unrestricted Fund) is only considered useful in terms of providing flexibility for budgeting for major items of expenditure (for instance building repairs) and to act as a buffer at times of unexpected expenditure. The Church has a formal policy for the level at which it maintains its reserves, which is for the General Unrestricted Fund to be not less than £15,000 to cater for unforeseen events, such as the repair of damage to the church buildings. At the year end, the free reserves were £67,936 (2019: £41,755), being £80,522 (2019: £44,766) of general unrestricted funds less £12,586 (2019: £3,011) as funds held as fixed assets are not readily available for use by the charity. An upper limit for free reserves of £45,000 would be targeted. [3 x lower limit], and free reserves are currently in excess of this; primarily due to a legacy being received during the year. 8 **FISHPONDS BAPTIST CHURCH** ## **STATEMENT OF TRUSTEES' RESPONSIBILITIES** The trustees are responsible for preparing the Trustees’ Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards including Financial Reporting Standard 102: The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). The law applicable to charities in England & Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the income and expenditure of the charity for that period. In preparing these financial statements, the trustees are required to: - select suitable accounting policies and then apply them consistently; - observe the methods and principles in the Charities SORP; - make judgments and accounting estimates that are reasonable and prudent; - state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and - prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business. The trustees are responsible for keeping sufficient accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed/constitution. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Signed by order of the Trustees Peter Keenan - Deacon Richard Pollard – Senior Pastor Approved by the Trustees ……………………………….....2021. 9 ## **FISHPONDS BAPTIST CHURCH** ## **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF FISHPONDS BAPTIST CHURCH** I report to the trustees on my examination of the accounts of Fishponds Baptist Church (the Charity) for the year ended 31 December 2020. ## **Responsibilities 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 Act’). I report in respect of my examination of the Charity’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act. ## **Independent examiner’s statement** I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: 1. accounting records were not kept in respect of the Charity as required by section 130 of the Act; or 2. 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 2008 other than any requirement that the accounts give a ‘true and fair view 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 understanding of the accounts to be reached. Signed: Dated: Neil Kingston, FCA, Burton Sweet, Chartered Accountants, The Clock Tower, Farleigh Court, Flax Bourton, Bristol. BS48 1UR 10 ## FISHPONDS BAPTIST CHURCH ## STATEMENT OF FINANCIAL ACTIVITIES ­ YEAR ENDED 31ST DECEMBER 2020 |INCOME FROM
Donations and Legacies
Freewill Offerings
2
Members Gifts ­ legacy
Gift Aid claimed
3
Income from Charitable Activities
Other Trading Activities
Rents and contributions to use of premises
Income from Investments
TOTAL INCOME AND ENDOWMENTS
EXPENDITURE
Charitable Activities:
Ministry
Gifts to Good Causes / Mission
7
Buildings Maintenance and Equipment
8
Hope 43 and Building Fund
TOTAL EXPENDITURE ON CHARITABLE ACTIVITIES
NET INCOME / (EXPENDITURE)
ACTUARIAL GAINS/(LOSES) ON DEFINED
15
BENEFIT PENSION SCHEME
NET MOVEMENT IN FUNDS
BALANCES BROUGHT FORWARD AT 1 JANUARY
15
BALANCES CARRIED FORWARD AT 31 DECEMBER
15
4, 6
Notes|Unrestricted
Restricted
Endowm't
2020
2019
Fund (£)
Fund (£)
Fund (£)
(£)
(£)
129,642
16,705
­
146,347
261,599
14,272
­
­
14,272
­
25,876
3,921
­
29,797
57,459
169,790
20,626
­
190,416
319,058
4,214
46,178
­
50,392
13,094
24,674
­
­
24,674
30,239
146
­
­
146
327
198,824
66,804
­
265,628
362,718
113,948
­
­
113,948
116,739
32,721
­
­
32,721
23,595
43,454
­
­
43,454
49,800
­
41,477
­
41,477
18,035
190,123
41,477
­
231,600
208,169
8,701
25,327
­
34,028
154,549
32,355
­
­
32,355
4,626
41,056
25,327
­
66,383
159,175

44,766
157,549
268,950
471,265
312,090

85,822
182,876
268,950
537,648
471,265
TOTAL FUNDS

| |---|---| See note 10 for fund­accounting comparative figures. The Charity has no recognised gains and losses than the results for the period as set out above. All of the activities of the charity are classed as continuing. The accounts and notes on pages 13 to 23 form the whole of the financial statements for the Year 2020. 11 ## FISHPONDS BAPTIST CHURCH BALANCE SHEET AS AT 31ST DECEMBER 2020 |Notes
FIXED ASSETS
Tangible fixed assets
11
CURRENT ASSETS
Debtors
12
Cash at Bank and in hand
12
CREDITORS FALLING DUE WITHIN ONE YEAR
13
NET CURRENT ASSETS
CREDITORS FALLING DUE AFTER MORE THAN ONE YEAR
14
FUNDS
Unrestricted Funds
General Funds
15
Pension Reserve Fund
15
Total Unrestricted Funds
15
Endowment Fund
15
Restricted Funds
15
TOTAL FUNDS
TOTAL NET ASSETS/(LIABILITIES)|2020
(£)
281,536
9,464
303,303
312,767
(12,176)
300,591
(44,479)
537,648
139,542
(53,720)
85,822
268,950
182,876
537,648|2019
(£)
271,961
6,550
284,512
291,062
(14,924)
276,138
(76,834)
471,265
130,841
(86,075)
44,766
268,950
157,549
471,265| |---|---|---| The accounts and notes on pages 13 to 23 form the whole of the financial statements for the Year 2020. Approved by the Church meeting on…..................................., and signed on its behalf on 4th March 2021 by Peter Keenan Church Treasurer 12 ## FISHPONDS BAPTIST CHURCH ## NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2020 ## NOTE 1 ­ BASIS OF ACCOUNTS AND ACCOUNTING POLICIES ## A. Basis of preparation and assessment of going concern The accounts (financial statements) have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts. The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011. The church constitutes a public benefit entity as defined by FRS102. There are no material uncertainties about the charity’s ability to continue as a going concern, despite the significant uncertainty being caused by the worldwide COVID­19 crisis. Whilst the Trustees expect there may be a significant impact on the charity’s operations and reserves in the coming months and years, the charity has sufficient reserves to be able to meet these challenges. ## B. Funds structure The manses at 37 Crescent Road, Downend, and 77 Vassall Road, Fishponds are held as endowment funds. Restricted funds are funds which are to be used in accordance with specific restrictions imposed by the donor or trust deed. There are two restricted funds, the Worship Fund, which includes funds given in 2011 for worship activities, and the Building Fund. During the current year the Church began the process of evaluating the space it has and how it may be better used. Unrestricted income funds comprise those funds which the trustees are free to use for any purpose in furtherance of the charitable objects. Unrestricted funds include designated funds where the trustees, at their discretion, have created a fund for a specific purpose. ## C. Income recognition All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably. During 2019 most income was either received weekly through cash and envelope giving or monthly through standing orders. Gift aid receivable is included in income when there is a valid declaration from the donor, and any gift aid recovered on a donation is considered to be part of the gift and treated as an addition to the same fund as the original gift. Offerings are recognised as and when received by and on behalf of the Church. Planned giving through the Church Envelope Scheme is recognised when received. Income tax recoverable on Gift Aid donations is calculated on a monthly basis and usually claimed at the end of each month. Tax refund claimed, covering November and December as at December is included in the accounts as a Debtor. Legacies to the Church are accounted for only when it is probable that they will be received and the amount of the legacy can be measured with sufficient reliability. Rental income from the letting of rooms and the Church flat is recognised when the income is received. ## D. Expenditure recognition Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that settlement will be required and the amount of the obligation can be measured reliably. 13 ## FISHPONDS BAPTIST CHURCH ## NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2020 ## NOTE 1 ­ BASIS OF ACCOUNTS AND ACCOUNTING POLICIES ­ Continued All expenditure is accounted for on an accrual basis. All expenses including support costs and governance costs are allocated or apportioned to the applicable expenditure headings. For more information on this attribution refer to note (F) below. Donated services and facilities are included in the accounts when received at the value of the gift to the charity, except for the for the value of voluntary help. See the Trustees Report for details. Expenditure falling directly within one cost category has been allocated to that category. Expenditure involving more than one category is apportioned on a reasonable and consistent basis unless it would be immaterial to do so. ## E. Irrecoverable VAT Irrecoverable VAT is charged against the expenditure heading for which it was incurred. ## F. Allocation of support and governance costs Support costs have been allocated between church activities in proportion to the expenditure incurred by each activity. Governance costs comprise all costs involving the public accountability of the charity and its compliance with regulation and good practice. These costs include costs related to independent examination and legal fees and have been included in support costs. The allocation of support and governance costs is analysed in notes 4­9. ## G. Land and Buildings No value is placed on the Land and Buildings situated at Downend Road, Fishponds, Bristol. All expenditure on the Land and Buildings is deemed to be renovation and repair and does not represent any increase in value. The Manses at 37 Crescent Road, Downend, Bristol, and 77 Vassall Road, Fishponds, Bristol, are included in these accounts at their respective purchase prices (i.e. £94,000 and £174,950). The accounts are not charged with depreciation in respect of the Manses, as it is felt that the amount that would be charged would be immaterial as an amount on its own and in the context of the balance sheet as a whole. ## H. Fixtures and Fittings Fixtures and Fittings in excess of £100 are carried in the accounts at cost, as stated, and are subject to the following depreciation rates: Technology/Electronic Equipment 20%/25% of cost each year General Fixtures and Fittings 10% of cost each year Sundry Specific Items 5% of cost each year ## I. Impairment Review If a fixed asset became impaired, it would be written down to its recoverable amount. The deacons consider that there has been no such impairment that requires writing down at 31st December 2020, nor was there any in the previous period. ## J. Charitable activities Costs of charitable activities includes ministry costs, gifts to good causes, governance costs and an apportionment of support costs as shown in notes 4­ 7, 9. ## K. Debtors Debtors are measured on initial recognition at settlement amount after any trade discounts or amount advanced by the church. Subsequently they are measured at the cash or other consideration expected to be received. ## L. Creditors The church has creditors which are measured at settlement amounts less any trade discounts. 14 ## FISHPONDS BAPTIST CHURCH ## NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2020 |NOTE 2 ­ OFFERINGS
Weekly Envelopes
Loose Cash and Cheques
Grants
Donations
Bank Transfers
TOTAL
PRIOR YEAR
Weekly Envelopes
Loose Cash and Cheques
Grants
Bank Transfers
TOTAL
dropb.
NOTE 3 – GIFT AID
Gift Aid Tax claimed in the year
Tax claimed and due at 31 December 2020
TOTAL
PRIOR YEAR
Gift Aid Tax claimed in the year
Tax claimed and due at 31 December 2019
TOTAL
NOTE 4 ­ MINISTRY
Youth Pastors’ Stipends and Children's Workers
Employers’ National Insurance
Personal Expenses ­Other Staff
Church Rates
Pulpit Supply
Young Peoples Work
Outreach
Equipment
Training
Gift to Mission
Sundry Expenditure
Depreciation
Administration ­Salaries (inc pension contribution)
Good Causes ­team trip to Dominican Republic
Office Expenses and Consumables
Professional Fees
Bank Charges
TOTAL|Unrestricted
Restricted
Endowm't
TOTAL
Fund (£)
Funds (£)
Fund (£)
2020 (£)
9,501
­
­
9,501
7,676
­
­
7,676
­
4,164
­
4,164
­
12,541
­
12,541
112,465
­
­
112,465
129,642
16,705
­
146,347
Unrestricted
Restricted
Endowm't
TOTAL
Fund (£)
Funds (£)
Fund (£)
2019 (£)
17,811
­
­
17,811
15,629
­
­
15,629
­
2,250
­
2,250
96,452
129,457
­
225,909
129,892
131,707
­
261,599
Unrestricted
Restricted
Endowm't
TOTAL
Fund (£)
Funds (£)
Fund (£)
2020 (£)
23,698
3,547
­
27,245
2,178
374
­
2,552
25,876
3,921
­
29,797
Unrestricted
Restricted
Endowm't
TOTAL
Fund (£)
Funds (£)
Fund (£)
2019 (£)
27,603
27,459
­
55,062
2,248
149
­
2,397
29,851
27,608
­
57,459
Unrestricted
Restricted
Endowm't
TOTAL
TOTAL
Fund (£)
Funds (£)
Fund (£)
2020 (£)
2019 (£)
26,201
­
­
26,201
13,581
971
­
­
971
476
3,740
­
­
3,740
3,810
1,400
­
­
1,400
3,647
427
­
­
427
1,296
3,849
­
­
3,849
4,692
3,533
­
­
3,533
6,795
1,838
­
­
1,838
1,942
309
­
­
309
5,955
204
­
­
204
476
1,808
­
­
1,808
3,441
4,461
­
­
4,461
2,578
9,678
­
­
9,678
10,322
­
­
­
­
1,473
3,029
­
­
3,029
1,934
1,657
­
­
1,657
3,624
60
­
­
60
65
63,165
­
­
63,165
66,107| |---|---| All expenditure in 2019 was represented by unrestricted funds. 15 ## FISHPONDS BAPTIST CHURCH ## NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2020 ## NOTE 5 – GOVERNANCE COSTS |Independent Examination 2020
Over accrued in prior year
TOTAL|Unrestricted
Restricted
Endowm't
TOTAL
TOTAL
Fund (£)
Fund (£)
Fund (£)
2020 (£)
2019 (£)
1,734
­
­
1,734
1,800
(77)
­
­
(77)
­
1,657
­
­
1,657
1,800| |---|---| All expenditure in 2019 was represented by unrestricted funds. The fee payable to the independent examiner for 2020 are £1,734 (during 2019 the fees were £1,800) (inclusive of VAT). ## NOTE 6 – TRUSTEES' REMUNERATION AND EXPENSES |Minister’s Stipend
Employers’ National Insurance
PAYE/NI Rebate
Contribution to Pensions
Minister's Expenses
Manse Costs
TOTAL|Unrestricted
Restricted
Endowm't
TOTAL
TOTAL
Fund (£)
Fund (£)
Fund (£)
2020 (£)
2019 (£)
33,315
­
­
33,315
29,455
3,394
­
­
3,394
3,310
(2,619)
­
­
(2,619)
(2,637)
10,888
­
­
10,888
16,008
2,372
­
­
2,372
2,269
3,433
­
­
3,433
2,227
50,783
­
­
50,783
50,632| |---|---| All expenditure in 2019 was represented by unrestricted funds. No deacons are provided with any remuneration or expenses, except the minister. Under the church governing document: Clauses 20.1 and 23 of the church governing document states: 'notwithstanding the fact that any minister or ministers appointed by the church are charity trustees they will be entitled to be paid an agreed and reasonable remuneration or stipend out of the funds of the church'. Richard Pollard received a stipend of £30,150 (£28,550 ­ 2019) with pension contributions of £10,888 (£9,043 ­ 2019) Employer's national insurance contributions of £3,165 (2019: £3,310) were made on his behalf. There were no trustees' expenses reimbursed or waived in the year. |NOTE 7 ­ MISSION/GOOD CAUSES
Baptist Missionary Society
Home Mission Fund
Claire Hodges Project (via Mission Direct)
AIM International Mission
Mwaisakenyi ­ Kenya
Olad ­ Ethiopia
Comfort for the Rejected ­ Kenya
Contingency fund for housing projects
Overseas Trips
Pakistan Mission
Mr & Mrs D Masters Mission
Sam Knight Mission
IJM UK Mission
Gift to Serving Missionaries
Other (inc soup run)
TOTAL|Unrestricted
Restricted
Endowm't
TOTAL
TOTAL
Fund (£)
Fund (£)
Fund (£)
2020 (£)
2019 (£)
10,000
­
­
10,000
10,000
10,000
­
­
10,000
10,000
1,749
­
­
1,749
1,845
­
­
­
­
1,000
­
­
­
­
500
200
­
­
200
250
1,000
­
­
1,000
­
2,500
­
­
2,500
­
1,000
­
­
1,000
­
1,000
­
­
1,000
­
300
­
­
300
­
750
­
­
750
­
300
­
­
300
­
2,000
­
­
2,000
­
1,922
­
­
1,922
­
32,721
­
­
32,721
23,595| |---|---| All expenditure in 2019 was represented by unrestricted funds. 16 ## FISHPONDS BAPTIST CHURCH ## NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2020 NOTE 8 ­ BUILDINGS, MAINTENANCE AND EQUIPMENT |Routine Maintenance
Energy Costs
Insurance
Depreciation
TOTAL
All expenditure in 2019 was represented by unrestricted funds.
NOTE 9 ­ WAGES AND SALARIES
Gross Salaries
Employers National Insurance
Employment Allowance (NI rebate)
Contribution to Pension
TOTAL
All expenditure in 2019 was represented by unrestricted funds.
The average number of paid staff was:
Ministry
Administration
Total|Unrestricted
Restricted
Endowm't
TOTAL
TOTAL
Fund (£)
Fund (£)
Fund (£)
2020 (£)
2019 (£)
28,817
­
­
28,817
33,073
6,850
­
­
6,850
10,783
6,420
­
­
6,420
5,944
1,367
­
­
1,367
­
43,454
­
­
43,454
49,800
Unrestricted
Restricted
Endowm't
TOTAL
TOTAL
Fund (£)
Fund (£)
Fund (£)
2020 (£)
2019 (£)
68,034
5,300
­
73,334
51,613
4,427
­
­
4,427
3,844
(2,619)
­
­
(2,619)
(2,637)
11,847
­
­
11,847
16,008
81,689
5,300
­
86,989
68,828
Average number of staff
2020
2019
2.3
1.7
0.3
0.3
2.6
2.0| |---|---| Key management personnel are the minister and deacons. The total salary and benefits for these people including pension contributions into the Baptist Union pension scheme covering existing and previous pastors were £44,203 (2019 ­ £38,498). Total donations received from trustees and related parties were £19,880 (2019 ­ £19,900). The paid staff comprise: - ­ One Full­time Minister (fully funded by the Church) - ­ One Part­time Youth Worker - ­ One Part­time Family Worker - ­ One Part­time Secretary/Administrator - ­ Two Part­time Hope in Action Workers - ­ One Intern Wages and Salaries costs are shown in the SOFA under the separate headings of Ministry, Buildings and Administration. This note (9) is included to give greater clarity in respect of the costs associated with paid staff. The full time Minister is provided with accommodation in the form of a Manse, which is owned by the Church. Additionally, the Church and the Minister contributes to the Baptist Ministers’ Pension Trust Limited in respect of retirement benefits. There are no employees with emoluments of £60,000 or more. 17 ## FISHPONDS BAPTIST CHURCH ## NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2020 NOTE 10 – FUND COMPARATIVES for the STATEMENT of FINANCIAL ACTIVITIES |INCOME FROM
Donations and Legacies
Freewill Offerings
Income Tax Reclaimed
Income from Charitable Activities
Other Trading Activities
Rents and contributions to use of premises
Income from Investments
TOTAL INCOME AND ENDOWMENTS
EXPENDITURE
Charitable Activities:
Ministry
Gifts to Good Causes / Mission
Buildings Maintenance and Equipment
Hope 43
TOTAL EXPENDITURE ON CHARITABLE ACTIVITIES
NET INCOME / (EXPENDITURE)
TRANSFERS BETWEEN FUNDS
NET MOVEMENT IN FUNDS
BALANCES BROUGHT FORWARD AT 1 JANUARY
BALANCES CARRIED FORWARD AT 31 DECEMBER
ACTUARIAL GAINS/(LOSSES) ON DEFINED BENEFIT PENSION SCHEME|Unrestricted
Restricted
Endowm't
Fund (£)
Fund (£)
Fund (£)
2019 (£)
129,892
131,707
­
261,599
29,851
27,608
­
57,459
159,743
159,315
­
319,058
9,864
3,230
­
13,094
30,239
­
­
30,239
327
­
­
327
200,173
162,545
­
362,718
116,739
­
­
116,739
23,595
­
­
23,595
49,800
­
­
49,800
4,585
13,450
­
18,035
194,719
13,450
­
208,169
5,454
149,095
­
154,549
­
­
­
­
4,626
­
­
4,626
10,080
149,095
­
159,175
34,686
8,454.00
268,950
312,090
44,766
157,549
268,950
471,265
TOTAL
FUNDS| |---|---| 18 ## FISHPONDS BAPTIST CHURCH ## NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2020 |NOTE 11 – FIXED ASSETS
Manses at:
37 Crescent Road, Downend, Bristol
77 Vassall Road, Fishponds, Bristol
Brought Forward and Carried Forward
Fixtures and Fittings (of the Church):
Brought Forward
Additions
Depreciation
TOTAL|TOTAL
TOTAL
2020 (£)
2019 (£)
94,000
94,000
174,950
174,950
268,950
268,950
3,011
5,589
15,403
­
(5,828)
(2,578)
12,586
3,011
281,536
271,961| |---|---| The Church buildings and land at Downend Road, Fishponds, Bristol is held in the name of the West of England Baptist Association, as Trustees. No value has been attributed to these premises, as reliable cost information is not available and conventional valuation approaches lack significant reliability. The premises are insured for £3.8 million with the Baptist Insurance Society. The Manses are stated at cost. |NOTE 12 ­ CURRENT ASSETS
Sundry Debtors
Prepayments
Bank Accounts: Nat West Bank (Current a/c)
Bank Accounts: Charity Aid Foundation (Cash CAF)
Charity Aid Foundation (Gold CAF)
TOTAL
NOTE 13 ­ CREDITORS ­ AMOUNTS FALLING DUE WITHIN ONE YEAR
Accruals
Pension Scheme Liability
TOTAL
NOTE 14 ­ CREDITORS ­ AMOUNTS FALLING DUE AFTER ONE YEAR
Pension Scheme Liability
TOTAL|TOTAL
TOTAL
2020 (£)
2019 (£)
2,995
2,397
6,469
4,153
9,464
6,550
2,100
300
130,857
105,653
170,346
178,559
303,303
284,512
312,767
291,062
TOTAL
TOTAL
2020 (£)
2019 (£)
2,934
5,682
9,242
9,242
12,176
14,924
TOTAL
TOTAL
2020 (£)
2019 (£)
44,479
76,834
44,479
76,834| |---|---| 19 ## FISHPONDS BAPTIST CHURCH ## NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2020 NOTE 15 – RECONCILIATION OF MOVEMENTS IN FUNDS |Unrestricted Fund:
General Funds
Pension Fund Liability
Endowments:
Capital Fund
Restricted Funds:
Building Fund
Missionary Fund
Dodisham Fund
Vassall Fund
TOTAL|At 1st Jan
2020
Income Expenditure
Transfers
Gains and
losses
At 31st Dec
2020
130,841
198,824
(190,123)
­
­
139,542
(86,075)
­
­
­
32,355
(53,720)
44,766
198,824
(190,123)
­
32,355
85,822
268,950
­
­
­
­
268,950
97,943
26,888
(1,800)
­
­
123,031
56,250
­
(4,500)
­
­
51,750
2,048
17,341
(18,007)
­
­
1,382
1,308
22,575
(17,170)
­
­
6,713
157,549
66,804
(41,477)
­
­
182,876
471,265
265,628
(231,600)
­
32,355
537,648| |---|---| ## Fund Descriptions Capital fund – This relates to the two church manses. Building fund ­ This has been set up as the source of income for the re­development of the Fishponds Baptist Church buildings. This will include changes to the building such as a lift, new heating systems, etc. Missionary Fund ­ These funds represents amounts given to help the church undertake missionary work. Dodisham Fund ­ This has been set up to facilitate donations for the set up and then to support the ongoing work of looking after tenants who reside in the house in Dodisham Road. The tenants are people who have recovered from addictions and are looking towards living a normal life in society. Vassall Fund ­ This has been set up to facilitate the giving of money for the set up and then to support the ongoing work of looking after tenants who reside in the house in Vassals Road. The tenants are people who have recovered from addictions and are looking towards living a normal life in society. Analysis of Net Assets Between Funds |Tangible fixed assets
Cash and short­term deposits
Other net assets
Pension Scheme Liability|Restricted
Endowment
Designated Unrestricted
Total
Funds
Funds
Funds
Funds
2020
­
268,950
­
12,586
281,536
179,933
­
­
123,370
303,303
2,943
­
­
3,586
6,529
­
­
­
(53,720)
(53,720)
182,876
268,950
­
85,822
537,648| |---|---| 20 ## FISHPONDS BAPTIST CHURCH ## NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2020 ## NOTE 15 – RECONCILIATION OF MOVEMENTS IN FUNDS ­ Continued ## PRIOR YEAR COMPARATIVES |Unrestricted Fund:
General Funds
Pension Fund Liability
Endowments:
Capital Fund
Restricted Funds:
Building Fund
Mission Trip
Dodisham Fund
Vassall Fund
TOTAL
Analysis of Net Assets Between Funds
Tangible fixed assets
Cash and short­term deposits
Other net assets
Pension Scheme Liability|At 1st Jan
2019
Income Expenditure
Transfers
Gains and
losses
At 31st Dec
2019
125,387
200,173
(194,719)
­
­
130,841
(90,701)
­
­
­
4,626
(86,075)
34,686
200,173
(194,719)
­
4,626
44,766
268,950
­
­
­
­
268,950
8,454
89,489
­
­
­
97,943
­
56,250
­
­
­
56,250
­
13,629
(11,581)
­
­
2,048
­
3,177
(1,869)
­
­
1,308
8,454
162,545
(13,450)
­
­
157,549
312,090
362,718
(208,169)
­
4,626
471,265
Restricted
Endowment
Designated Unrestricted
Total
Funds
Funds
Funds
Funds
2019
­
268,950
­
3,011
271,961
157,549
­
­
126,963
284,512
­
­
­
867
867
­
­
­
(86,075)
(86,075)
157,549
268,950
­
44,766
471,265| |---|---| 21 ## FISHPONDS BAPTIST CHURCH ## NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2020 ## NOTE 16 ­ PENSION SCHEME LIABILITIES The Church is an employer participating in a pension scheme known as the Baptist Pension Scheme (“the Scheme”), which is administered by the Pension Trustee (Baptist Pension Trust Limited). The Scheme is a separate legal entity and the assets of the Scheme are held separately from those of the Employer and the other participating employers. For any month, each participating employer in the Scheme pays contributions as set out in the Schedule of Contributions in force at that time. The Scheme is considered to be a multi­employer scheme as described in Section 28 of FRS 102. This is because it is not possible to attribute the Scheme’s assets and liabilities to specific employers and means that contributions are accounted for as if the Scheme were a defined contribution scheme. The pensions costs charged to the SoFA in the year are contributions payable towards benefits and expenses accrued in that year, plus any impact of deficiency contributions (see below). ## The Minister is eligible to join the Scheme. From January 2012, pension provision is being made through the Defined Contribution (DC) Plan within the Scheme. In general, members pay 8% of their Pensionable Income and employers pay 6% of members’ Pensionable Income into individual pension accounts, which are operated and managed on behalf of the Pension Trustee by Legal and General Life Assurance Society Limited. 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 in the event that they are unable to work due to long­term incapacity. This income protection policy has been insured by the Baptist Union of Great Britain with Aviva plc. [Members of the Basic Section pay reduced contributions of 5% of Pensionable Income, and their employers also pay a total of 5%.] The further 4% contribution rate is reduced to 3% for Employer contributions made to the Segregated DC Arrangement. Benefits in respect of service prior to 1 January 2012 are provided through the Defined Benefit (DB) Plan within the Scheme. The main benefits for pre­2012 service were a defined benefit pension of one eightieth of Final Minimum Pensionable Income for each year of Pensionable Service, together with additional pension in respect of premiums paid on Pensionable Income in excess of Minimum Pensionable Income. The Scheme, previously known as the Baptist Ministers’ Pension Fund, started in 1925, but was closed to future accrual of defined benefits on 31 December 2011. ## Actuarial valuation as at 31 December 2019 A formal valuation of the Defined Benefit (DB) Plan was performed at 31 December 2019 by a professionally qualified Actuary using the Projected Unit Method. The market value of the DB Plan assets at the valuation date was £298 million. The valuation of the DB Plan revealed a deficit of assets compared with the value of liabilities of £18 million (equivalent to a past service funding level of 94%). The Church and the other employers supporting the DB Plan are collectively responsible for funding this deficit. ## The key assumptions underlying the valuation were |Type of assumption
%pa
RPI price inflation assumption
3.20
CPI price inflation assumption
2.70
Minimum Pensionable Income increases (RPI)
3.20
Assumed investment returns
­ Pre­retirement
2.95
­ Post retirement
1.70
Deferred pension increases
­ Pre April 2009
3.20
­ Post April 2009
2.50
Pension increases
­ Main Scheme pension
2.70|| |---|---| Post–retirement mortality in accordance with 80% of the S3NFA and S3NMA tables, with allowance for future improvements in mortality rates from 2013 in line with the CMI 2019 core projections, with a long term annual rate of improvement of 1.75% for males and 1.5% 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. ## Recovery Plan In addition to the contributions to the DC Plan set out above, where a valuation of the DB Plan reveals a deficit the Trustee and the Council agree to a rate of deficiency contributions from churches and other employers involved in the DB Plan. 22 ## FISHPONDS BAPTIST CHURCH ## NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2020 ## NOTE 16 ­ PENSION SCHEME LIABILITIES ­ Continued **----- Start of picture text -----**
Under the current Recovery Plan dated 30 September 2020, deficiency contributions are payable until 30 June 2026. These contributions are broadly
based on the employer's membership at 31 December 2014 and increase annually in line with increases to Minimum Pensionable Income as defined
in the Rules. However, the Trustee and the Council agreed a 50% reduction for all deficiency contributions payable between 1 July 2020 and 31
December 2020.
Movement in Balance Sheet liability
Section 28.11A of FRS 102 requires agreed deficit recovery payments to be recognised as a liability. The movement in the provision is set out in the
table below.
2020 2019
£ £
Balance sheet liability at year start 86,076 90,701
Minus deficiency contributions paid (6,932) (9,043)
Interest cost (recognised in SoFA) 1,818 2,133
Remaining change to balance sheet liability*
(27,241) 2,285
(recognised in SoFA)
Balance sheet liability at year end 53,721 86,076
* Comprises any change in agreed deficit recovery plan and change in assumptions between year­ends.
This liability represents the present value of the deficit contributions agreed as at the accounting date and has been valued using the following
assumptions set by reference to the duration of the deficit recovery payments:
31­Dec­20 31­Dec­19 31­Dec­18
**----- End of picture text -----**
Under the current Recovery Plan dated 30 September 2020, deficiency contributions are payable until 30 June 2026. These contributions are broadly based on the employer's membership at 31 December 2014 and increase annually in line with increases to Minimum Pensionable Income as defined in the Rules. However, the Trustee and the Council agreed a 50% reduction for all deficiency contributions payable between 1 July 2020 and 31 December 2020. Section 28.11A of FRS 102 requires agreed deficit recovery payments to be recognised as a liability. The movement in the provision is set out in the table below. This liability represents the present value of the deficit contributions agreed as at the accounting date and has been valued using the following assumptions set by reference to the duration of the deficit recovery payments: ||31­Dec­20|31­Dec­19|31­Dec­18|| |---|---|---|---|---| |Discount rate|1.1%|2.2%|2.4%|| |Future increases to Minimum Pensionable Income|3.0%|3.3%|3.3%|| The Church has also made pension contributions to NEST (National Employment Savings Trust) workplace pensions for three employees during 2020 (4 ­ 2019). These are defined contribution pensions and the Church and the employees made contribution of 3% and 5% respectively which complies with current pension legislation. ## NOTE 17 ­ RELATED PARTY TRANSACTIONS There were no related party tansactions during the year other than those noted elsewhere. 23