2021-09-30-accounts - Kingswood Baptist Church

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KINGSWOOD BAPTIST CHURCH - Trustees, Report for the year ending 30 September 2021 Page 2 of 27

REFERENCE AND ADMINSTRATION	REFERENCE AND ADMINSTRATION	REFERENCE AND ADMINSTRATION		DETAILS	OF THE CHARITY, IT'S TRUSTEES,	OF THE CHARITY, IT'S TRUSTEES,	AND ADVISERS.....	AND ADVISERS.....
TRUSTEES' REPORT.
Objectives and Activities.
	a. Policies and objectives.
	b.Activities for achieving objectives
	c.Volunteers.
Achievements and performance.				.
	a. Reviewof activities. ....
Fina n cia I review.
	a. Going concern. .
	b. General, Building and Development				and Enlarging	our Tent (formerly	New Build)	Funds .....
	c.Reserves policy
	d. Pensions. .................
	e. Principal funding. .
Structure, governance and management					.
	a.Constitution.
	b. Method of appointment	or election			ofTrustees .
	c.Organisational structure	and		decision making
	d. Risk management								....12
	e. Principal activities. ....								....12
Plans for future periods.									....12
	a. Future developments.								....12
Trustees' responsibilities statement									....13
Report ofthe Independent Examiners to					the Trustees	and Members of KBC			15
Statement offinancial activities			for the year ended 30			September 2021			16
Balance Sheet for Year Ending		30		September 2021					....17
Notes to the financial statements			for year ending 30September 2021.						18
1.	Accounting policies. ........................................................................								....18
2.	Donations 8 legacies receipts								....19
3.	Investments.								....19
4.	Church activities								....19
S.	Other receipts. ........								....19
6.	Analysis ofgrants.								....19
7.	Analysis of support costs.....								....20
8.	Direct costs .....								....20
9.	Staff costs and Trustees'	expenses. .						................... 21
								Page 3of27

10.	Governance costs.				.22
11.	Gross transfer between funds.				.22
12.	Tangible assets —analysis of opening			and closing carrying amounts.	.22
13.	Debtors				.23
14.	Cash at bank in hand.				.23
15.	Creditors: amounts	falling within one		year	.23
16.	Creditors: amounts	falling after	more	than one year .	.23
17.	Restricted Funds.				.23
18.	Unrestricted Funds.				.24
19.	Designated Funds.				.24
20.	Analysis of net assets between		funds	.....	.25
21.	Pensions. .				25
22.	Children and youth	clubs' accounts.			.27

Statement	Statement	offinancial	offinancial	activities	for the year	ended 30September 2021	ended 30September 2021
			Unrestricted		Designated	Restricted	Endowment	TOTAL	TOTAL
				Funds	Funds	Funds	Funds	2021	2020
		note:				E	E		E
Receipts
Donations				144,267	24,618	65,893		234,778	201,367
and legacies
Investment				365				365	754
income
Church									698
activities
Other receipts				2,508		2,500		5,008	250
Total				147,140	24,618	68,393		240,151	203,069
Payments
Charitable		6-10	(139,275)		(29,462)	(55,099)	0	(223,836)	(187,399)
activities
Total			(139,275)		(29,462)	(55,099)	0	(223,836)	(187,399)
Net Income	/			7,865	(4,844)	13,294	0	16,315	15,670
(expenditure)
Transfer		11		(4,153)	4,153				(0)
between
funds
Other
recognised
gains (loses)
net gains		12		1,199				1,199	1,653
(loses) on the
revaluation	of
fixed assets
Net				4,911	(691)	13,294	0	17,514	17,323
movement	in
funds
Reconciliation
of funds
Totals funds		17-		635,539	40,414	42,382	0	718,335	701,012
brought		19
forward
Total funds				640,450	39,723	55,676	0	735,849	718,335
carried
forward
								Page 16of27

								Total Funds	Total Funds
							note:	2021	2020
Fixed Assets:
Tangible assets							12	585,034	583,835
					Totalfixed	assets		585,034	583,835
Current assets:
Debtors							13	0	1,400
Cash at bank in hand							14	150,815	134,500
					Total current	assets		150,815	135,900
Liabilities:
Creditors:	amount	falling due		within one year			15		10,181
			Net current assets or liabilities					150,815	125,719
		Total assets			less current liabilities			735,849	709,554
Creditors:	amount	falling due		after more than one			16		39,804
year
Net assets	or liabilities		excluding		pension asset	or		735,849	669,750
liability
Defined benefit pension			scheme		asset or liability		21	(43,747)	(51,454)
Total net assets or		liabilities						692,102	618,296
Charity Funds
Restricted	funds						20	55,676	42,382
Unrestricted funds		(inc	fixed	assets f585,034)			20	640,450	635,539
Designated	funds						20	39,723	40,414
				Total unrestricted		funds		680,173	675,953
					Total charity	funds		735,849	718,335

All individual fi	gur	es and t	otals are round	ed	to the n	earest	British Poun	d.
2. Donations	gr	legacies	receipts
			Unrestricted		Designated		Restricted		Endowment		2021	2020
Offering and Gifts			120,515		20,426		63,083				204,024	169,686
Gift Aid Refunds			23,752		4,192		2,810				30,754	31,681
Total			144,267		24,618		65,893		0		234,778	201,367
3. Investments
		Unrestricted		Designated		Restricted		Endowment			2021	2020
Bank Interest			365								365	754
Total			365								365	754
4. Church activities
			Unrestricted		Designated		Restricted		Endowment		2021	2020
Bereavement	Training										0	236
Raindrops											0	462
Total												698
5. Other receipts
			Unrestricted		Designated		Restricted		Endowment		2021	2020
Rental income	received			150							150	250
HMRC Furlough		payments	2,358								2,358
Church House	windows							2,500			2,500
grant
Total			2,508				0	2,500		0	5,008	250
6. Analysis ofgrants
			Unrestricted		Designated		Restricted		Endowment		2021	2020
Baptist Missionary						6,000					6,000	6,000
Society
Baptist Union	(GB)					6,000					6,000	6,000
Home Mission
Cry in the dark-						1,335		165			1,500	1,364
Romania
EARE Ministries		—India				1,210		40			1,250	1,577
Grace to Heal						1,200					1,200	1,200
(Zimbabwe Pastors)

LAMA Ministries						1,200						1,200	1,420
Wycliffe Bible						1,200						1,200	1,200
Translators
Open Doors												0	2,000
Release international								30				30	2,864
Winter Gardens BC												0	4,000
World Vision					274							274	273
St Lukes								50				50	0
Project 58												0	75
BMS Birthday												0	141
School Team Ministry						1,000						1,000	0
Love Purflect						1,000						1,000	0
Total					274	20,145		285			0	20,704	28,114
In the opinion ofthe	managing			trustees no grant has an expectation				offuture	funding		as these	commitments
are agreed by KBC annually		and		may	be withdrawn	at any time.
7. Analysis ofsupport costs
		Unrestricted Designated					Restricted		Endowment			2021	2020
Administration					420	34						454	527
Legal & Professional												0	1,980
Total					420	34						454	2,507
Administration =ChurchSuite			fee and website fee;			bank charges for international				payments
Legal &Professional	=Architect			fees
8. Direct costs
			Unrestricted Designated				Restricted		Endowment			2021	2020
Administration				2,404								2,404	3,144
Children and Youth				1,456								1,456	2,089
Evangelism												0	108
Fabric				4,740								4,740	9,014
Utilities				2,638								2,638	2,979
Insurance				3,54S								3,545	0
Manse & Ministry				29,329								29329	30901
Hospitality 8 Catering					158							158	737
Pastoral					355			135				490	1,212
Public Worship				1,322								1,322	2,790
Social Action					273							273	603
Teaching and Training					599							599	606
World Mission												0	626
Student Fees for						9,283						9,283	4,048
Minister in Training
Mortgage repayments								52,179				52,179	14,681
Church house windows				3,250				2,500				5,750	0
Live Stream costs				3,560								3,560	0
Total				53,629		9,283		54,814			0	117,726	73,538

		Unrestricted	Designated	Restricted	Endowment		2021	2020
Salaries		67,829					67,829	66,090
National	Insurance	1,636					1,636	1,999
employer
Pension	Costs	14,962					14,962	14,643
Total		84,427				0	84,427	82,732
Trustee costs
		Unrestricted	Designated	Restricted	Endowment		2021	2020
Expenses							0	0
Total							0	0

10.Governance c	osts
					Unrestricted		Designated		Restricted		Endowment	2021	2020
Independent Examination			Fee			0						0	0
Other financial services—						525						525	508
payroll fees
Total						525						525	508
11.Gross transfer	between			funds
					Unrestricted		Designated		Restricted		Endowment	2021	2020
Transfer from Student		Loan					(5,847)					(5,847)	0
to General
Transfers to General from					5,847							5,847
Student Loan
Transfers from General to					(10,000)							(10,000)	0
Enlarging our Tent
Transfers to Enlarging		our						10,000				10,000
Tent
Transfer from Building									(11,595)			(11,595)	0
Fund to Enlarging	our	Tent
Transfer to Enlarging		our							11,595			11,595
Tent from Building	Fund
Total					(4,153)			4,153				0	0
12.Tangible assets —analysis					ofopening	and	closing carrying		amounts
					Freehold		land	Fixtures, fittings			Total 2021	Total 2020
					and	buildings		and	equipment
Cost or valuation
At beginning ofyear						582,182			1,653		583,835	582,	182
Additions									2,150		2,150	2,204
Deposals											0		0
Revaluations											0		0
Transfers											0		0
At end ofyear						582,182			3,803		585,985	584,386
Depreciation and	impairments
At beginning of year											0		0
Additions										951	951		551
Disposals											0		0
Revaluations											0		0
Transfers											0		0
At end ofthe year										951	951		551
Net book value at	beginning				ofyear	582,182			1,653		583,835	582,182
Net book value at	end ofthe				year	582,182			2,852		585,034	583,835
											Page 22 of27

revalued at E295k 13.Debtors	as at 3	1	August 2017,	bas	ed on	local estat	e agent valu	ation.
								2021	2020
Pastoral Loan								0	1,400
Total								0	1,400
14.Cash at bank	in hand
								2021	2020
Barclays Bank								20,727	24,500
BU Corporation	-7 day deposit account							50,000	50,000
BU Corporation	-3 month		deposit account					80,088	60,000
Total								150,815	134,500
15.Creditors: amounts falling within				one	year
								2021	2020
Loans and overdrafts								0	10,181
Other creditors								0	0
Total								0	10,181
16.Creditors: amounts		falling after more			than	one year
								2021	2020
Baptist Union Loan								0	39,804
Other creditors								0	0
Total									39,804
17.Restricted Funds
				01-Oct-20			Receipts	Payments	Transfers	30-Sep-21
Building and Development			fund		6,485		57,289	(52,179)	(11,595)	0
Enlarging our Tent (New			Build) Fund		33,856		8,364		11,595	53,815
Cry in the Dark						45	120	(165)		0
Pastoral Support						800	10	(135)		675
Release International						30		(30)		0
Tuesday Jubilees	(Tesco	bags)				1,166				1,166
St Lukes						0	50	(50)		0

RPI price inflation assumption	RPI price inflation assumption	3.20
CPI price inflation assumption		2.70
Minimum Pensionable	Income increases	3.20
(RPI)
Assumed investment	returns
—Pre-retire ment		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


Balance sheet liability	at year	start	E51,454	E83,638
Minus deficiency contributions		paid	-E7,443	-f7,287
Interest cost (recognised in SoFA)			E191	E1,200
Remaining change to	balance	sheet	-f455	-626,098
liability* (recognised	in SoFA)
Balance sheet liability	at year	end	E43,747	E51,454

Discount rate		1.1%	0.4%	1.5%
Future increases to Minimum		3.9%	3.1%	3.4%
Pensionable	Income