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KINGSWOOD BAPTIST CHURCH - Trustees, Report for the year ending 30 September 2021
Page 2 of 27
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|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|
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|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||
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|||||||||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|
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|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)|||||||||||||
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|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|
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|||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|
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|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|||
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|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|
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|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|
##
||||4 . e|||
|---|---|---|---|---|---|
|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||||