ANNUAL REPORTS AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2022
STONY STRATFORD COMMUNITY CHURCH
REGISTERED CHARITY NUMBER: 1131785
Stony Stratford Community Church
CONTENTS
| LEGAL AND ADMINISTRATIVE INFORMATION | 3 |
|---|---|
| LEGAL AND ADMINISTRATIVE INFORMATION | 3 |
| TRUSTEES REPORT | 4 to 7 |
| STATEMENT OF FINANCIAL ACTIVITIES | 8 |
| BALANCE SHEET | 9 |
| NOTES TO THE FINANCIAL STATEMENTS | 10 to 21 |
| PENSIONS NOTE | 22 to 23 |
| PENSIONS NOTE ADDENDUM 2020/2021 | 24 to 28 |
| INDEPENDENT EXAMINERS REPORT | 29 |
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Stony Stratford Community Church
LEGAL AND ADMINISTRATIVE INFORMATION
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START OF FINANCIAL YEAR 1st April 2021
END OF FINANCIAL YEAR 31st March 2022
CUSTODIAN TRUSTEE The Baptist Union Corporation Ltd
MINISTER Reverend Jacqui Green
ASSOCIATE MINISTER Reverend Stuart Earl
ELDERS Kenny Beaton (Appointed Jan 2019)
Zara Lee (Appointed 15 [th] June 2021)
TRUSTEES Herman Marais (Appointed Nov 2019)
TREASURER Neil Hughes (Reappointed Nov 2019)
MANAGING TRUSTEES Ministers
Elders
Treasurer
GOVERNING INSTRUMENT The Church is governed by its own constitution and
rules as approved at the Church members' meeting.
CHARITY REGISTRATION NUMBER 1131785
OBJECTS The Church exists to proclaim the Christian faith and
to serve the local community through its work and
witness. Its purpose is to turn people into fully devoted
followers of Jesus Christ.
CUSTODIAN TRUSTEE ADDRESS PO Box 44
129, Broadway
Didcot
Oxfordshire
OX11 8RT
REGISTERED ADDRESS Stony Stratford Community Church
Horsefair Green
Stony Stratford
Milton Keynes
MK11 1JW
PRIMARY BANK Barclays Bank Plc
Stony Stratford
The Milton Keynes Group
1 Churchill Place
London
E14 5HP
INDEPENDENT EXAMINERS Castle View Accounting Ltd
New Barn
Mudberry Lane
Bosham
Chichester
West Sussex
PO19 8TS
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Stony Stratford Community Church
TRUSTEES REPORT
FOR THE YEAR ENDED 31ST MARCH 2022
Church Annual Report April 2021 -March 2022
Introductory Note
Stony Stratford Community Church registered as a charity in 2009. We changed our name to help us become more accessible to the local community but remain a member of the Baptist Union and operate according to Baptist principles. The Ministers, Rev Jacqui Green (Senior) and Rev Stuart Earl (Associate) are both accredited by the Baptist Union. They work with a team of elders to enable the church to fulfil its commission - namely to make disciples of Jesus Christ. Decisions are made according to Baptist practice by the Church Membership which meets 4 times a year. The ministers, Treasurer, Elders and Safeguarding Lead are Trustees of the church and accountable to the church in decisions they make.
Mission Statement:
“To know Jesus Christ as Saviour and Lord and to make Him known”
Vision:
“God wants to continue to build us together into a loving family, anointed and filled with the Holy Spirit, reaching out in Jesus name to the surrounding community and to all nations”
Values
G-enerosity (Sacrificial) R-adical Living (Prophetic)
A- cceptance (Inclusive)
C- ommunity Focus (Missionary)
E- ngaging in prayer and Worship (Worship)
This year began as the last one had ended with lots of uncertainty as to when, if ever, we would revert to normality after Covid 19. It was not until September 2021 that we had live worship and preaching in the building rather than it being recorded and watched online. Some people were eager to return at the earliest opportunity while others remained nervous of catching Covid and continued to watch online. Church is not the same as it was numbers are lower (although much better than they were), people do not attend as frequently as they once did, and services are generally shorter than they used to be. We know that we are not alone, and all churches are exploring what a post Covid church looks like. At the time of writing this report the leadership are encouraged by the commitment of those who come to accepting the change and seeing what God will do in us and through us.
The Leadership Team
In June 2021, the church appointed Zara Lee to become an Elder. She is serving the church as Children’s Ministries Leader and is a welcome addition to the team representing the younger age group (just into her 30’s) and bringing new gifts to our work with Children and Families. We are still open to adding new Elders and Trustees as our team is too small for all the work that needs to be done.
We are very conscious of having a big heart to do more for God and yet not having enough people to match the needs that we see around us. In March 2022 we held an “Opportunities Fair” to showcase the opportunities to serve across the life of the church whether behind the scenes or up front, or within the church or in mission. We asked people to prayerfully consider whether they were serving in the right place or whether God was calling them to change roles or add something to their commitments. It was an encouraging morning which we will repeat at some point but has not changed the numbers involved -yet!
Church Family
Our membership numbers have declined for a number of reasons – the pandemic, people moving away in retirement and four people leaving as they were unhappy with the direction of the church.
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Stony Stratford Community Church
TRUSTEES REPORT (Continued)
FOR THE YEAR ENDED 31ST MARCH 2022
We have also sadly had a number of deaths during the year Bob Green, the husband of the Senior Minister, died after a long battle with Alzheimer’s. I wish to put on record my gratitude to the Church for their incredible support as I sought to care for Bob and lead the church. He was able to remain at home much longer because of their willingness to support him and look out for him. Ernie Bowden, a previous associate pastor(lay) who was much loved and respected by the congregation also died in February 2022. He served God wholeheartedly and to the end - preaching the day before he had a stroke. He died about a week later and is greatly missed. Also, among those promoted to glory were two of our oldest members Beryl Holbrook and Christina Bowles. We also held a number of funerals for other friends of the church, including Peter Brazell, a former church Treasurer and for some people in our community.
Preaching
During the year we looked at what the Bible had to say about Hospitality, Generosity, Justice, Peace-making etc – some of the subjects which speak to the big issues in our world, a world which God loves and calls His church to serve. We also did a series on Nehemiah rebuilding the walls of Jerusalem and considered what it had to say to us as we sought to rebuild the Church post Covid.
Youth
Activities for young people ran online throughout the Covid pandemic, providing opportunities for support, learning and socialising. Friday evening youth club sessions and Sunday evening youth sessions were each held fortnightly on Zoom.
From July 2021, some in-person activities resumed with Friday evening youth club sessions meeting outdoors. From September, the youth club resumed meeting indoors in the church building. Sometimes the challenges of Covid meant the sessions took place online, but usually they were face-to-face sessions run with appropriate Covid secure measures in place. The Sunday Youth sessions also returned to the building during the morning services, exploring the Parables of Jesus.
The youth team facilitated Youth Takeover services on Sunday mornings in July, November, and February, which have allowed the young people to lead and shape Sunday services for the whole church community. The fun and creativity of these times has been well received and it is encouraging to see the young people using their gifts and growing in this way.
Mission
Difficulties with gathering together due to Covid posed challenges to running activities safely. During the time covered by this report we have gradually returned to a normal programme.
Sundays Out
Sundays Out is our monthly service where we get out of the building to serve the community, share with people and speak the Good News to them. May was our first attempt at reintroducing some of our Sundays Out projects with organised outside activities taking place and ideas/resources to allow participants to get involved without the need to gather with others. Sundays Out returned fully in September with activities including a service in Magdalen House (supported living for older people), litter picking in partnership with the Residents’ Associations of Galley Hill and Fullers Slade, community football, Operation Blessing (leaving posies of flowers for people to find and take), and other opportunities to engage people in conversation on the street and pray for them.
Missional Communities
The Sunday Group completed running an online Kintsugi Hope Wellbeing course in April and offered a second one beginning in January. They also set up a Hygiene Bank for Milton Keynes which officially launched in May 21, providing personal care items to those who need them through community partnerships.
The Thursday Group ran Messy Church events (see below) and provided fortnightly cake drops for the staff of 3 local schools to encourage them in the challenging circumstances they were working in. The community football events that run as part of Sundays Out are also a project of this group.
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Stony Stratford Community Church
TRUSTEES REPORT (Continued)
FOR THE YEAR ENDED 31ST MARCH 2022
A new missional community began in May, called “CONNECT.” This group has taken on running the monthly Souper Saturday events, put on an Alpha course for those interested in exploring faith, and partnered with the town council to work on establishing a community orchard.
Community Outreach
Most of our regular community events restarted in September 2022 with appropriate Covid secure measures in place. These include weekly sessions of Mini Blessings (our parent/carer and toddler group) and Drop In (providing a meal and social contact – mainly attended by older people). Fortnightly 635 club (activities for children) and Memory Club (dementia friendly social time). Once a month there is a Fellowship Tea (for older people). Souper Saturday (Soup and social time) events restarted monthly from October.
We have also been involved in annual events that go on in the life of the town as they have returned. We had a presence at Classic Stony, an event that attracts thousands to view classic cars and motorcycles - we provided free activities for families and the opportunity to meet members of the local Christian Motorcyclist’s Association who kindly support us with time and their motorbikes. Although some of the activities for the switch on of the Christmas lights were limited, we were able to return to giving away free hot chocolate – around 500 cups.
In August and December, we ran free treasure hunt activities for families utilising QR code technology and video clips. We also restarted physical Messy Church services for any who would like a hands-on activitybased service, but especially aimed at families. These events ran for Harvest and Christmas (we also do Easter but not covered by this report due to how Easter weekends fell in 2021/22).
Conclusion
The impact of Covid has been far reaching and its effects are still being experienced. We continue to learn the ways that individuals have been affected and to understand the difference between the short term and longterm effects on the Church. We are aware that emotionally some people are still struggling with the aftereffects of Covid, and we see that in tensions that are evident among us more so than in the past. We need to give each other space to recover and be vigilant in our own lives so that we do not remain in the place that Covid has left us.
We do not forget that we also have much to be grateful for – no-one has died as a direct result of Covid, the majority of people have returned to church and confidence in working together has returned. Our church finances, while less than they were, have been sufficient for our needs. You will see from the range of activities commented on above that we are doing much to address the needs beyond the church doors, and we do receive messages of appreciation.
I am writing this, my final Church Report in October 2022, having just told the Church of my intention to retire in April 2023. By that time, I will have been a Minister of the Church since 1984; the first 10 years as Associate minister and 29 years as Senior Minister. It has been a privilege to serve the Church for such a long time. It has had times of real pain and challenge and many moments of Joy and inspiration. The over-riding awareness that I have is of God’s relentless faithfulness to His Church. Every year we have been able to testify that God is faithful; there is no challenge that He cannot enable us to overcome. We still declare with conviction the hymn
“Great is Thy faithfulness O God my Father there is no shadow of turning with Thee All I have needed Thy hand has provided, great is Thy faithfulness Lord unto me”
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Ston Stratford Communi Church TRUSTEES REPORT (Continuad FOR THE YEAR ENDED 31ST IAARCH 2022 As I lay dlIn my ministy in 6 months. time. I havtr abwlute C(f Ihat the God who has led u3 this tsr 11 continue lo sustain and Hh chur¢h. here In Story Stratfud. in the lu¢w&. To Him all the praise glory R•v Ja¢qul Gre•n, Sonlor Mlnl•t•r Isedions on Youlh, MissK)n. MIOnal C¢jnm1ts.eS. Cfknmunty thjtreath o)ntribthed by Rev SbJart Earf, Assooe Mini8terl T st•••' R onslbllFt The chares Act 2011 require the trusletrs to prepare fin•naal statement$ for each finanu•l year which giv& true and lair view of the state of 8ffaifs of the Chainy's and of surtAus ol the Chaity that period. In Prepari those finanaal statemenis the tru$l&s are requir•d to" Select suitable a¢¢ntIng polirjes aryj apFty them conwstenty Make judgements and esbmate$ thai are reasonable and prLhlent Ppare finanual ststements cn the wirrfJ CLyrn basi$ untess rt r6 inoFpropnate to UMa that Ihe trust wll cctInUe In existence. The trustees are responsit4e keeping proper ac£ounting records, vthi¢h disdose th roasonable accuracy at any time the finantyal p0sOn ol the Chanty. They are also responsitle for safeguarding the asset$ ol the Charity and hètKe lor takirvJ Irable steps tsthe olfraud aTra othw Irrfjgularrt. Approved by th• Trustees on .. . Signed on th•ii h*ll by Trustee8.. Printed N¥rn•'. Lifv)e G£éÉ fvs
Stony Stratford Community Church
STATEMENT OF FINANCIAL ACTIVITIES
Stony Stratford Community Church
Statement of Financial Activities
For the period from 01 April 2021 to 31 March 2022
| Notes | Unrestricted | Restricted | Total | Prior Year | |
|---|---|---|---|---|---|
| Funds | Funds | Funds | Total Funds | ||
| Incoming resources | |||||
| Donations, Legacies and similar incoming resources | 3a/3c | 153,443 | 11,729 | 165,172 | 193,957 |
| Investment income | 3b | 10,688 | 117 | 10,805 | 12,793 |
| Other incoming resources | 3d | 870 | 0 | 870 | 1,787 |
| Total income | 165,001 | 11,845 | 176,846 | 208,537 | |
| Resources used | |||||
| Costs of generating funds | 4e | 800 | 1 | 801 | 72 |
| Grants payable in furtherance of charity's objects | 4a | 2,007 | 22,433 | 24,440 | 25,079 |
| Activities in furtherance of the charity's objects | 4b | 109,109 | 502 | 109,611 | 116,218 |
| Support costs | 4c | 27,486 | 0 | 27,486 | 28,344 |
| Expenditure on managing-administering the charity | 4d | 11,320 | 0 | 11,320 | 9,817 |
| Total expenditure | 150,722 | 22,937 | 173,659 | 179,529 | |
| Net income / expenditure resources before transfer | 14,279 | (11,092) | 3,188 | 29,008 | |
| Transfers | 5 | ||||
| Gross transfers between funds - in | 805 | 9,360 | 10,165 | 22,500 | |
| Gross transfers between funds - out | (10,165) | 0 | (10,165) | (22,500) | |
| Other recognisedgains / losses | |||||
| Net movement in funds | 4,919 | (1,732) | 3,188 | 29,008 | |
| Reconciliation of funds | |||||
| Total funds brought forward | 170,883 | 1,333,096 | 1,503,979 | 1,474,971 | |
| Total funds carried forward | 175,803 | 1,331,365 | 1,507,167 | 1,503,979 | |
| There may be minor discrepancies in the totals if the pence | are not being | shown |
Movements on all reserves and all recognised gains and losses are shown above. All of the organisation's operations are classed as continuing.
The notes on pages 10 to 21 form part of these financial statements.
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Ston Stratford Communi Church 8ALANCE SHEET Stony Str¥tlord Community Church Balance Sh••t AS at: 31 Marth 2022 Fd Fund Fw)ds 3110J12022 3110312021 Tangib &5S8ts He a$set• Tot41 Flx•d IM•t• 1,031 4.142 220.200 1.032.979 1,263,179 22S,376 1.032.979 1.2U,306 228.570 1.032.979 1,2•1, 4142 sloG In proryw• Dotytors Ca¥h Bl bar and In hand Totll CuN•nl •H•ts 349 572 250.100 161.021 349 750 242.183 243,111 352 77.135 71.M7 138.019 33.515 JJ,sis Crediiorn Ani# du• In year ¢jLw1h cf 2))7 2.20 941 242,431 N•tcuwr•rt ••••ts or I11¥•• lJ7,1 71.1 248,•12 Ttknl a•••ts Il•bllltb•• IU.194 J7,60• I,1.)61 1.507.117 1.503.979 Tow or IIWIN 131,1•4 J7A I,Ji.J16 l.lQ7.107 R•prw•nt•dbv UnrnJldci•d 08119n•J Flealnet•o 138.195 1.11$ 136.113 34.720 37.7 37.807 1.3J1.Je6 1.J33.097 th•chr¢b 37,101 I.1.311 1,107,117 1.103,•n There may be mirKJr disu8paS in the lotals il lh• pence a rb)t bèing sh¢)vm Approved by the Trustees M ...... Signed cn th•'r b•half by Truste•s ..... Printgd Name.. L• trlvlrHF4
Stony Stratford Community Church
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2022
1. ACCOUNTING POLICIES
Basis of Preparation & Assessment of Going Concern
The financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant notes. 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 (FRS102) (effective 1 January 2015) - (Charities SORP - FRS102) and the Charities Act 2011.
The Charity meets the definition of a public benefit entity under FRS102. Assets and liabilities are initially recognised at historical cost unless otherwise stated in the relevant accounting policy notes.
Assessment of Going Concern
Preparation of the accounts is on a going concern basis. The trustees consider that there are no material uncertainties about the Charity’s ability to continue as a going concern.
Recognition of Incoming Resources
These are included in the Statement of Financial Activities (SOFA) when: ▪ the charity becomes entitled to the resources; ▪ the trustees are virtually certain they will receive the resources; and ▪ the monetary value can be measured with sufficient reliability
Incoming Resources with Related Expenditure
Incoming resources from tax reclaims are included in the SOFA at the same time as the gift to which they relate.
Grants and Donations
Grants and Donations are only included in the SOFA when the charity has unconditional entitlement to the resources.
Tax Reclaims on Donations and Gifts
Incoming resources from tax reclaims are included in the SOFA at the same time as the gift to which they relate.
Contractual Income and Performance Related Grants
This is only included in the SOFA once the related goods or services has been delivered.
Gifts in Kind
Gifts in kind are accounted for at a reasonable estimate of their value to the charity or the amount actually realised. Gifts in kind for sale or distribution are included in the accounts as gifts only when sold or distributed by the charity. Gifts in kind for use by the charity are included in the SOFA as incoming resources when receivable.
Donated Services and Facilities
These are only included in incoming resources (with an equivalent amount in resources expended) where the benefit to the charity is reasonably quantifiable, measurable and material. The value placed on these resources is the estimated value to the charity of the service or facility received.
Investment Income
This is included in the accounts when receivable.
Investment Gains and Losses
This included any gain or loss on the sale of investments and any gain or loss resulting from revaluing investments to market value at the end of the year.
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Stony Stratford Community Church
NOTES TO THE FINANCIAL STATEMENTS (Continued)
FOR THE YEAR ENDED 31ST MARCH 2022
1. ACCOUNTING POLICIES (Continued)
Expenditure and Liabilities
Liability Recognition
Liabilities are recognised as soon as there is a legal or constructive obligation committing the charity to pay out resources.
Governance Costs
Include costs of the preparation and examination of statutory accounts, the costs of the trustees' meetings and cost of any legal advice to trustees on governance or constitutional matters.
Grants with Performance Conditions
Where the charity gives a grant with conditions for its payment being a specific level of service or output to be provided, such grants are only recognised in the SOFA once the recipient of the grant has provided the specified service or output.
Grants Payable without Performance Conditions
These are only recognised in the accounts when a commitment has been made and there are no conditions to be met relating to a grant which remain in control of the charity.
Support Costs
Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of the resources, eg allocating property costs by floor areas, or per capital, staff costs by the time spent and other costs by their usage.
Pensions
The Charity is an employer participating in a pension scheme known as the Baptist Pension Scheme (“The Scheme”). The Scheme is a separate legal entity which is administered by the Pension Trustee (Baptist Pension Trust Limited). Contributions are charged to the Statement of Financial Activities as they become payable in accordance with the rules of the scheme. The pension contributions include additional payments related to the current deficit recovery plan for the Defined Benefits branch of the Baptist Pension Scheme. Further details related to this matter can be found in the last section of this report.
Assets
Tangible fixed assets for use by the charity, these are capitalised if they can be used for more than one year, and cost at least £500. They are valued at cost or, if gifted, at the value to the charity on receipt.
Investments
Investments quoted on a recognised stock exchange are valued at market value at the year end. Other investment assets are included at trustees' best estimate of market value.
Depreciation
Depreciation is calculated at a rate to write off the cost of all tangible fixed assets on a straight-line basis over an assumed useful life of four years. The rates applied per annum are thus 25% across all tangible fixed assets.
No depreciation is charged to freehold property as the properties are maintained to such a standard it is considered the residual value will not be less than cost.
There has been no change to the accounting policies (valuation rules and methods of accounting) since last year.
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Stony Stratford Community Church
NOTES TO THE FINANCIAL STATEMENTS (Continued)
FOR THE YEAR ENDED 31ST MARCH 2022
2. TANGIBLE FIXED ASSETS
Stony Stratford Community Church
Tangible Fixed Assets
Financial Year 2021-22
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Restricted Restricted Unrestricted
Freehold Purchased Purchased
Property Equipment Equipment Total
Gross Block
Costs As At 01/04/2021 1,253,179 16,968 87,277 1,357,424
Additions 0 0 2,120 2,120
Revaluations 0 0 0 0
Disposals 0 0 0 0
Costs As At 31/03/2022 1,253,179 16,968 89,397 1,359,544
Depreciation
As At 01/04/2021 0 16,968 78,907 98,638
Charge
Equipment Y/E 2022 0 0 2,551 2,551
Equipment Y/E 2021 0 0 1,310 1,310
Equipment Y/E 2020 0 0 682 682
Equipment Y/E 2019 0 0 771 771
As At 31/03/2022 0 16,968 84,221 103,952
Net Book
As At 31/03/2022 1,253,179 0 5,176 1,258,355
As At 31/03/2021 1,253,179 0 5,607 1,258,786
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The annual commitments under non-cancelling operating leases and capital commitments are as follows: 31st March 2022 : None
31st March 2021 : None
Notes
- In preparing these accounts a £33 discrepancy was noted between the reported closing net book value for 31/03/2022 and the actual value held in our accounts package. We note that there appears to have been a discrepancy dating back a number of years. We will continue to attempt to identify the cause of this discrepancy, and should we succeed, we will correct this in future reports.
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Stony Stratford Community Church
NOTES TO THE FINANCIAL STATEMENTS (Continued)
FOR THE YEAR ENDED 31ST MARCH 2022
3. INCOMING RESOURCES
Stony Stratford Community Church
Incoming Resources
Selected period: 01 April 2021 to 31 March 2022
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Notes Unrestricted Designated Restricted This Year Last Year
3a) Donations, Legacies and similar incoming resources
Bank Transfer Donations 5 70,849 0 4,520 75,369 78,027
Recovered Gift Aid & GASDS 24,661 2,607 2,033 29,301 38,732
Offerings at services 5 3,451 0 0 3,451 0
Other regular donations 5 34,115 0 403 34,518 38,521
Non regular donations 5 5,365 0 220 5,585 8,624
Communion offering 5 0 0 1,286 1,286 0
On trust giving 5 0 1,804 2,931 4,735 3,045
Building Development 5 0 0 0 0 3,672
Memory Club 0 0 284 284 0
Online donations 975 206 51 1,233 2,760
Legacies 0 542 0 542 9,230
Building Maintenance & Development 0 8,869 0 8,869 11,346
Sub Total 139,416 14,028 11,728 165,173 193,957
3b) Investment income
Interest on bank accounts 5 3 0 117 120 199
Property Lettings 5 0 10,685 0 10,685 12,594
Sub Total 3 10,685 117 10,805 12,793
3c) Other incoming resources
Hire of premises 0 0 0 0 27
Weddings & Funerals 0 870 0 870 1,760
Sub Total 0 870 0 870 1,787
Incoming resources Grand totals 139,418 25,583 11,845 176,846 208,537
There may be minor discrepancies in the totals if the pence are not being shown
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Stony Stratford Community Church
NOTES TO THE FINANCIAL STATEMENTS (Continued)
FOR THE YEAR ENDED 31ST MARCH 2022
4. RESOURCES USED
Stony Stratford Community Church
Resources Used
Selected period: 01 April 2021 to 31 March 2022
----- Start of picture text -----
Notes Unrestricted Designated Restricted This Year Last Year
4a) Grants payable in furtherance of charity's objects
Family fund 0 0 6,660 6,660 4,143
MSG 0 0 11,212 11,212 15,764
On trust payments 500 1,507 4,562 6,569 5,173
Sub Total 500 1,507 22,434 24,441 25,080
4b) Activities in furtherance of the charity's objects
Books 292 0 0 292 171
Conferences 995 0 0 995 645
Evangelism 916 0 0 916 518
General pastoral 116 0 0 116 135
Leadership training 659 0 0 659 (20)
Manse Costs 3,479 0 0 3,479 3,517
Office 79 0 0 79 18
Telephone 560 0 0 560 268
Photocopying 102 0 0 102 216
Public address system 496 0 0 496 69
Salary Pensions NI Accommodation 92,955 5,700 0 98,655 105,598
Sanctuary site development 0 119 0 119 0
Special events 113 0 0 113 275
Transport 686 0 0 686 673
Children & Youth 558 0 0 558 560
Community Care 79 0 502 581 250
Service Costs 18 0 0 18 14
Church At Home Related Costs 1,186 0 0 1,186 3,311
Sub Total 103,289 5,819 502 109,610 116,218
4c) Support costs
Building & Maintenance 3,854 9,443 0 13,297 7,877
Church Kitchen Supplies 2,426 0 0 2,426 625
Insurance 1,885 0 0 1,885 3,056
Miscellaneous payments 0 0 0 0 243
Utilities 4,104 0 0 4,104 5,353
Property letting 0 2,142 0 2,142 8,623
Internet Based Services 3,424 0 0 3,424 1,948
Covid 19 Related Costs 209 0 0 209 618
Sub Total 15,902 11,585 0 27,487 28,343
4e) Expenditure on managing-administering the charity
Comms General 46 0 0 46 0
Bank charges 98 0 0 98 314
Professional fees 3,058 0 0 3,058 76
Subscriptions 1,390 0 0 1,390 368
Resource Copyright 1,415 0 0 1,415 1,286
Depreciation (Designated) 731 4,582 0 5,314 7,774
Sub Total 6,738 4,582 0 11,321 9,818
4f) Costs of generating funds
Fund raising expenses 767 0 0 767 0
Bank charges (fund raising) 27 6 1 34 72
Sub Total 794 6 1 801 72
Resources used Grand totals 127,222 23,500 22,937 173,659 179,529
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There may be minor discrepancies in the totals if the pence are not being shown
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Stony Stratford Community Church
NOTES TO THE FINANCIAL STATEMENTS (Continued)
FOR THE YEAR ENDED 31ST MARCH 2022
5. RESTRICTED FUNDS
Stony Stratford Baptist Church
Restricted Funds
Selected period: 01 April 2021 to 31 March 2022
----- Start of picture text -----
Brought Incoming Outgoing Transfers Gains And Carried
Forward Resources Resources Losses Forward
On trust - MSG 15,349 1,429 10,536 9,360 0 15,602
Missional Development Fund 0 0 300 0 0 (300)
Ukraine Appeal Fund 0 40 0 0 0 40
On trust - Funds 3,636 4,838 5,238 0 0 3,236
On trust - Family Fund 5,878 5,009 6,660 0 0 4,226
Sanctuary Buildings 1,032,979 0 0 0 0 1,032,979
Manse Purchase Fund 273,708 117 0 0 0 273,825
Building Development Funds 617 129 0 0 0 746
Building Development Funds Phase 2 97 0 0 0 0 97
Memory Club Fund 833 284 202 0 0 915
Totals 1,333,097 11,846 22,936 9,360 0 1,331,366
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There may be minor discrepancies in the totals if the pence are not being shown
Restricted funds in deficit are considered to be on-going activities and are replenished during the coming financial period, except where noted below.
The restricted funds held are represented by the Charity's cash reserves and fixed assets investments and are to be expended as specified above.
Mission Support Group (MSG) – this is categorised as a restricted fund in these accounts. The MSG fund currently receives funds from the general fund, however the amount allocated is no longer governed by a fixed rate and is instead weighed against other calls on the income of the Church. The fund is administered by a team appointed by the church.
Missional Development Fund – this fund holds donations received by our missional groups specific for the work of these groups, and as such represents a restricted fund. Expenditure from this fund is backed by a church designated fund from which this reserve fund is replenished annually should its expenditure outstrip its income.
Ukraine Appeal Fund – Following the invasion of Ukraine by Russia at the end of February 2022, we directed church members to existing appeals for Ukraine. However, one individual donated money to the church on trust for Ukraine. At the time of writing this report these funds have now been distributed, however their distribution will appear in the accounts for our next financial year.
On Trust Funds - these are donations made for specific causes (notably but not exclusively, personal support of some of our missionaries). Income for these purposes are held in & disbursed from cause specific on trust funds, summarised here.
On Trust Family Fund - this fund operates in a similar fashion to the Mission Support Group. Funds are provided via a communion offering plus personal specific donations. The fund is used to assist those within the congregation experiencing unexpected financial difficulties.
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Stony Stratford Community Church
NOTES TO THE FINANCIAL STATEMENTS (Continued)
FOR THE YEAR ENDED 31ST MARCH 2022
5. RESTRICTED FUNDS
Manse - In buying the new manse (75 Boundary Crescent) it was deemed necessary to raise additional finances since the existing fund would be insufficient. This was achieved by a special appeal to the congregation. When this was agreed at the church meeting it was also agreed that any funds remaining after the completion of the purchase would be used for the future development of the Church premises on the Horsefair Green site.
It should also be noted that the fund value reflects the recorded value for the tangible asset that is the property at 75 Boundary Crescent.
Building Development Funds – This fund reflects the consolidation of all previous funds related to the financing of phase one of the building development programme, the repayment of which was completed during 2020/2021.
Building Development Funds Phase 2 - This fund reflects the donations received and funds raised for a possible Phase 2 of the building redevelopment programme.
Memory Club Fund – This fund holds income received for the purposes of operating a support group for those afflicted with dementia and other memory related diseases. There are two primary sources of income: a local authority grant to assist with operational expenses; donations received at each event.
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Stony Stratford Community Church
NOTES TO THE FINANCIAL STATEMENTS (Continued)
FOR THE YEAR ENDED 31ST MARCH 2022
6. CASH AT BANK & IN HAND
Stony Stratford Baptist Church
Cash At Bank & In Hand
As at: 31 March 2022
----- Start of picture text -----
General Designated Restricted Total Last Year
BB_CURR : Barclays - Current Account 42,004 3,901 4,777 50,682 6,653
PAYPAL : Virtual Bank 0 0 0 0 0
PCBELVOIR : Petty Cash - Belvoir Float 0 200 0 200 0
BB_FF : Barclays - No 2 Account 0 0 4,182 4,182 6,182
CAFCURR : CafCash Current Account 85,779 19,564 12,537 117,880 152,365
CAFPLAT : Caf Platinum 10,645 10,000 0 20,645 20,642
BU Corp: Manse Account Funds 0 0 56,119 56,119 56,002
PC-ALPHA : Petty Cash - Alpha catering 83 0 0 83 83
PCDROPIN : Petty Cash - Drop In 235 0 0 235 114
PCTREASURY : Petty Cash - Treasury 48 (150) (28) (130) 20
PC_OFFICE : Petty Cash - Office 55 0 (12) 44 44
PCMEMORY : Petty Cash - Memory Club 0 0 160 160 78
Totals 138,849 33,515 77,735 250,100 242,183
----- End of picture text -----
BU Corp: Manse Account Funds – These funds are held on trust by the Baptist Union Corporation for SSCC, and arise from some of the proceeds of the historic sale to Rev. J. Green of SSCC’s share in her manse property at 7 Breton, Stony Stratford. The remainder of the proceeds were used to clear the mortgage on SSCC’s remaining manse property at 75 Boundary Crescent, in accordance with the agreement of the Baptist Union Corporation.
PAYPAL: Virtual Bank – This account arises from our attempt to donate funds direct to a missionary operating abroad. Unfortunately, this approach failed and alternative methods were employed.
7. DEBTORS & PREPAYMENTS
Stony Stratford Baptist Church
Debtors & Prepayments
As at: 31 March 2022
| Accounts Receivable Totals |
General Designated Restricted Total Last Year |
|---|---|
| 220 0 352 572 750 220 0 352 572 750 |
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Stony Stratford Community Church
NOTES TO THE FINANCIAL STATEMENTS (Continued)
FOR THE YEAR ENDED 31ST MARCH 2022
8. CREDITORS: AMOUNT DUE WITHIN ONE YEAR
Stony Stratford Baptist Church
Creditors: Amounts Due Within One Year
As at: 31 March 2022
| Agency Collections Uncleared cheques at year end Accounts Payable Totals |
General Designated Restricted Total Last Year |
|---|---|
| 0 0 (98) (98) (98) (48) 48 0 0 949 2,307 0 0 2,307 0 2,259 48 (98) 2,209 851 |
8a. CREDITORS: AMOUNT DUE AFTER ONE YEAR
Stony Stratford Baptist Church
Creditors: Amounts Due After One Year
As at: 31 March 2022
| Totals | General Designated Restricted Total Last Year |
|---|---|
| 0 0 0 0 0 |
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Stony Stratford Community Church
NOTES TO THE FINANCIAL STATEMENTS (Continued)
FOR THE YEAR ENDED 31ST MARCH 2022
9. STAFF COSTS & NUMBERS
Stony Stratford Community Church Staff Costs & Numbers
Financial Year 2021-22
| Staff Costs Gross Wages & Salaries Employer's National Insurance Employer's Pension |
This Year Last Year |
|---|---|
| 60625 67997 1594 2022 13636 12779 |
|
| Total Staff Numbers Engaged in activities in furtherance of Charity's Objectives |
75855 82798 This Year Last Year |
| 2 3 |
|
| Total | 2 3 |
Gross Wages & Salaries – The reduction in recorded costs for this year reflects the departure of one member of staff.
As recorded in our previous accounts, there is in place a manse agreement between the church and each of its ministers whereby the church leases each minister’s property in order to fulfil its obligation to provide accommodation for each minister. As a lease arrangement this falls outside the scope of PAYE and is borne as a cost to the church.
Employer’s Pension – These contributions include additional payments related to the current deficit recovery plan for the Defined Benefits branch of the Baptist Pension Scheme. Further details related to this matter can be found in the last section of this report.
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Stony Stratford Community Church
NOTES TO THE FINANCIAL STATEMENTS (Continued)
FOR THE YEAR ENDED 31ST MARCH 2022
10. TRUSTEES AND OTHER RELATED PARTIES
Stony Stratford Community Church Payments To Custodian Trustees And Affiliated Groups Financial Year 2021-22
| This Year Last Year |
|
|---|---|
| Nominal Account Baptist Home Mission Baptist World Mission |
1,200 1,200 1,200 1,200 |
| Total | 2,400 2,400 |
| There may be minor discrepancies in the totals if the pence are not being shown |
No other payments were made to the custodian trustees or any persons/organisations connected with them during this financial period. No other material transaction took place between the charity and the custodian trustee or any person/organisation connected with them.
Ministers:
Payments made to Ministers as Salaries and Pensions are shown in Note 9, and in Note 4a under Staff Costs, Transport Costs and Manse. Any other expenses paid to them or any person connected to them were reimbursements of expenses incurred whilst carrying out their activities for the Church.
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Stony Stratford Community Church
NOTES TO THE FINANCIAL STATEMENTS (Continued)
FOR THE YEAR ENDED 31ST MARCH 2022
11. RELATED PARTIES
The custodian trustee of the church is the Baptist Union Corporation Limited which is a registered charity (number: 249635), and which is controlled by the Baptist Union Council. The church is also a member of the Baptist Union of Great Britain.
12. RISK ASSESSMENT
The Trustees actively review the major risks which the charity faces on a regular basis and believe that maintaining the free reserves stated combined with the annual review of the controls over key financial systems carried out on an annual basis will provide sufficient resources in the event of adverse conditions. The Trustees have also examined other operational and business risks which they face and confirm that they have established systems to mitigate the significant risks.
13. RESERVES POLICY
During this period the Trustees adopted a more formalised reserves policy that seeks to quantify the targeted level for the reserve fund, that the Trustees wish to hold so as to mitigate any financial risks to the charity in uncertain times. The figure agreed is to be assessed annually at the end of each financial year.
For the forth coming financial year the targeted reserves figure agreed by the Trustees is set at £98k. This is to be held as cash reserves spread across the charity’s bank accounts.
14. PUBLIC BENEFIT
The Trustees acknowledge the requirement to demonstrate clearly that the Church must have charitable purposes or ‘aims’ that are for the public benefit. Details of how the Church has achieved this are provided in the Trustees report. The Trustees confirm that they have paid due regard to the Charity Commission guidance on public benefit before deciding what activities the charity should undertake.
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Stony Stratford Community Church
PENSIONS NOTE
A draft form of the following note has been provided by the Baptist Union Great Britain (BUGB) and the Pension Trustee. Its content has been modified to reflect the specific circumstances for Stony Stratford Community Church.
The Church is an employer participating in a pension scheme known as the Baptist Pension Scheme (“the Scheme”).
The Scheme is a separate legal entity which is administered by the Pension Trustee (Baptist Pension Trust Limited).
The Minister(s) and some members of the church staff are 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 (or 3% if the employer is in the segregated DC section) 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 long-term incapacity. This income protection policy has been insured by the Baptist Union of Great Britain with Aviva. Members of the Basic Section pay reduced contributions of 5% of Pensionable Income, and their employers also pay a total of 5%.
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 pre-2012 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.
A formal valuation of the Defined Benefit (DB) Plan was performed at 31 December 2016 by a professionally qualified Actuary using the Projected Unit Method. The market value of the DB Plan assets at the valuation date was £219 million.
The valuation of the DB Plan revealed a deficit of assets compared with the value of liabilities of £93 million (equivalent to a past service funding level of 70%). As a result of the valuation, in addition to the contributions to the DC Plan set out above, it was agreed that the standard rate of deficiency contributions from churches and other employers involved in the DB Plan will remain at previously agreed levels, increasing each year in line with increases in the Minimum Pensionable Income. The deficiency contributions are broadly based on 12% of Pensionable Income / Minimum Pensionable Income, reflecting each employer’s contributions in March 2015. Some employers that were involved in the DB Plan for a short period pay lower contributions.
In addition, the Baptist Union of Great Britain is expected to make a number of one-off contributions totalling £33.5m by 31 December 2023, including a lump sum of £30m in 2018. The Recovery Plan envisages deficiency contributions continuing until 31 December 2028.The key financial assumptions underlying the valuation were as follows:
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Stony Stratford Community Church
| RPI price inflation assumption | 3.50 |
|---|---|
| CPI price inflation assumption | 2.75 |
| Minimum Pensionable Income increases (CPI plus 1.0% pa) | 3.50 |
| Assumed investment returns | |
| - Pre-retirement | 3.50 |
| - Post retirement | 2.25 |
| Deferred pension increases | |
| - Pre April 2009 | 3.50 |
| - Post April 2009 | 2.50 |
| Pension increases | |
| - Main Scheme pension Pre April 2006 | 2.70 |
| - Main Scheme pension Post April 2006 | 2.00 |
As there is a large number of contributing employers participating in the Scheme, the Church is unable to identify its share of the underlying assets and liabilities of the scheme.
Accordingly, due to the nature of the Scheme, the profit and loss charge for the period represents the employer contributions payable. The total pension cost for the Church is £13,142 (2018 £14,379).
The next actuarial valuation of the DB Plan within the Scheme is due as at 31 December 2019.
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Stony Stratford Community Church
PENSIONS NOTE ADDENDUM 2020/2021
The pension notes detailed above were first recorded in our accounts for the financial year 2017/2018. As recorded in our previous accounts, the following communication was received from the Baptist Pension Scheme during July 2020.
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Ston Stratford Communit Church TOGETrIER Movements the deficlt In 2020 Thèrè arè 0 sutsianiial ¢Jevelowents eomlw Snto aY sltKe Decerntr 2019 that have an impact on DB Plan fuTrYing'. Allhough milvJaled lo som8 exlenl by the Twstee's relab.vely low-risk irweslment strategy. th8 Coronawrus pandemic has impacted fInarK1 rnark8ts and lo a reduclion in the value ol some D8 Plan invesiments. The Government is currenily corul11n9 on how and Ywhen lo change how ihg Retail Pri Index IRPII is crAlted lo briThJ it more into line wth the, 98n8rally Iow8r. Consum8r Pnc85 lThJ&x ICPII We antpate that this chang8 will lead to a lower value for some ol Ihe RPI-linked assets hekl by the D8 Plan. This impact is partially offs81 by an assurned re(knlion in the cost of woviding dderred benefils wNch are revJu611 up 10 reiiwmeni in linè wlh RPI. The DB Plan's actual finHrKio1 p)siliw movgs dw'ly ith ¢haThJos in lifiaw rnarket eondilions. Howèv81. In thè agreèd da111 rocovèry eoniribulions w8 havè mada an allowance I a £1chm deterratIOn in the ¢Jefioi since 31 December 2019 to lake ac¢ounl of the current irnp¥t of Ihg Iwo i1grn$ ab)ve. Fkn•n¢l•l pro#ur•s on •ryloyer• BUG8 recognised very earfy that some churches and eftwoyers would suffer signilicanl financial loss because of beiTrJ unatle lo meel or lo renl ¢iiii their premis85 duTrThJ the Coronavirus lockdown. BPS circAJlat8d a Survey lo all empbyers in April lo ascertain w extènsi this was. AllhtyJgh Ihè prOn ol emplor$ 8¥POCling 10 Slrugglo over the short lemi was Iwrly low. 8UG8 and Ihe ErnoYerS. Gioup were eager lo offef som8 reduction since th8 811ects are conliwir¥J. We are rot aNe lo Ireal IlIVIUaI eM0YerS differendy depending on their ciicumslances. so we have had lo balance bolh Ihe immediate nee<ls ol those churches under linanc4al t¥essure aThY the lonoef le need to lully fun(1 the DB Plan. We telieve SOVO re(Jucti for the six months Irorn JY lo December 2020 achieves this balar¢e. The re<l110n will hwn aU¢ornab.l1y. you (k lo lake any action. Del11 reeovory contributions from January 2021 will Ihan reium 10 lh¢ full levèl. inc1ling thè normal inllationary irreaSe Icw 2021. Please rKJie lh your cortribuDons 10 Ihe DC Plan lor any oThJoiro memters ol BPS 11 cKJnbnue al ttir lull rale. Thi6 r*1110 only aPleS lo the DB Plan defKil recovery conlritr'or. BUGB'S Qjronaviws finanoal $UPk sclvne rern& yn for apFAKalis from employers in parti¢xJlar negj. Details are w the BUG8 al vww.ba .uK.'corona. 25
Ston Stratford Communit Church TOGETrIER To support the DB Plan's r&JLKed iwme over 2020. BUG8 has agr to bring lorard a payment ol £0.5rn that rt was due to rnake by the end ot 2023. 11 ill now b8 paKI by the erKI 012020. How long wlll d•llell f•eo¥•ry eonlrfbuiions b• r•qulMd for7 Our forecast at this time is Ihal contributi$ wll ¢0 continue unb'l Jung 2026. Thi¥ Is arKJ a ham years •ailièr than expectation ai Ihtr prtivious valuatim. In practice, nobody can say fcf w1.n how k)ng conlfitrxjlions will need to continue. To give a sense ol Ihè scale. a swng of just 1% in the valuè of the liabilities ehangas thè delioi by around £3m. which equaies lo arou 8 months ol Oelicil coniributions. The next lull actuarial valualion wll lake a¢8 as al 31 Dgcerntsr 2022, t1 the Trus1 arbj the Employ8f5' Group ar8 conlinuing 10 al way5 to manage down Ihe DB Plan's deliot ancj nsk exwsuie. Looklng aheed Our long-lerrn th'ectiv¢ 1$ lo reach a FQ5ilion where th8 DB Plan longer requires eonlribuliDns Irom th• trnF4oyèrs and Iherè ar8 no exil d8bls wh8n •mpbyèr5 leavè. That Involves more Ihan just deanThJ the valuab.on del11 as il requires enough assets to coveT lull solvency Ilhe c1 ol txjwng-oth all the benelils wlh an insurer) a1 the removal 01 th& dsk 01 bad experienc& causing a delicrt 10 uJm• b. We ar8 not Ih8r8 yel, txjl it is good Ihal we are mowro in Ihe rigm dirKlion. Finally. during th8 ve4aiil• mathot eondilions 8arfior in tha y•af wo suyThJod calculaiion ol the monthly empkjyerdebl estimales (b the 4mystaff portal. These 11 be resumed ITOrn July 2020. Youis fallhlully, Chrls Ma885 Modeiator for the Baptist Pension 5¢heffe Trystee John L•¥kk UGB Treasurer m Ja¢kson Moderator lor the Emthers. Group 26
Ston Stratford Communit Church TOGETHER Appendix: Comparison of results with the previou5 valuation 31 DEcember 2016 311)tcembw2019 Value of a55et5 219 £312m £318m t18m £93rn Adjusted deficit E28m lafterallowance f( 2020 movements) £fknn (after £33m ont-off payment from BUG81 Len8th of recovery plan frorn valuation date 6 % year5 (with 50% red10Th fo the rest 012020 12 ye4r5 Anticipated end date ol employer coniritrwiions under reco¥e In 30Jure 2026 311)ecember 1028 Solvency The valuaiion liguras provthd atth• do noi all8Ct Iha z• of an om¢)ye1.s dabt which nee(Is 10 be settled If an employer leaves Ihe 08 Plan. These debl fKJures are prOded regularly lo em 0yerS on the 4myslalf rA)rtal and are cai¢ulaled as the ernployers share ol lh8 overall solvèncy deficrf. which mèan5 th8 dèfiut comparod wth thè eslimaled cost ol InsuriThJ dl the OB Plan lobilibes wrth an Insww. The over1 sol¥¥Y ¢Jell¢ll esiimaies are shown bebw. 31 Detember 2019 31 December 2016 Value of assets É301m' £349m £219 £382rn Solvency dell¢l¢ £48m £16Zm IghttyL4ffrenl when wearelookir8thP5thn&ffiaI 27
Stony Stratford Community Church
PENSIONS NOTE ADDENDUM 2021/2022
Throughout this period, as an employer in the Baptist Pension Scheme, we continue to make deficit contributions to the recovery plan as outlined above. The BPS manager provides monthly updates as to the potential liability we would incur were our actions to give rise to a cessation event. The Trustees will continue to monitor this to ensure that such an event does not occur.
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