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2023-03-31-accounts

ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2023

STONY STRATFORD COMMUNITY CHURCH

REGISTERED CHARITY NUMBER 1131785

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Stony Stratford Community Church

CONTENTS

LEGAL AND ADMINISTRATIVE INFORMATION 3
CHURCH ANNUAL REPORT 4-9
STATEMENT OF FINANCIAL ACTIVITIES 10
BALANCE SHEET 11
NOTES TO THE FINANCIAL STATEMENTS 12-25
PENSIONS COMMUNICATIONS 26-29
INDEPENDENT EXAMINERS REPORT 30

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Stony Stratford Community Church

LEGAL AND ADMINISTRATIVE INFORMATION

----- Start of picture text -----
START OF FINANCIAL YEAR 1st April 2022
END OF FINANCIAL YEAR 31st March 2023
CUSTODIAN TRUSTEE The Baptist Union Corporation Ltd
MINISTER Reverend Jacqui Green
ASSOCIATE MINISTER Reverend Stuart Earl
ELDERS Kenny Beaton (Reappointed April 2022)
Zara Lee (Appointed 15 [th] June 2021)
SAFEGUARDING LEAD Herman Marais (Retired Jan 2023)
TREASURER Neil Hughes (Reappointed Nov 2022)
MANAGING TRUSTEES Ministers
Elders
Treasurer
Safeguarding Lead
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
----- End of picture text -----

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Stony Stratford Community Church

CHURCH ANNUAL REPORT

FOR THE YEAR ENDED 31ST MARCH 2023

STRUCTURE, GOVERNANCE AND MANAGEMENT

Stony Stratford Community Church is an unincorporated association, governed by its own constitution and rules as approved at the Church Members’ Meeting. The constitution is based upon the Approved Governing Document for Baptist Churches provided by the Baptist Union of Great Britain.

Members of the Church are accepted in accordance with the constitution which requires them to be or to have been publicly baptised on the profession of faith in Jesus Christ or following other modes of baptism to renew their public profession of faith in Jesus Christ.

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 at least 4 times a year. The ministers, Treasurer, Elders and Safeguarding Lead are Trustees of the church with responsibility for general decisions. They are accountable to the Church Members for decisions they make, and important decisions, including budget setting, are discussed and voted upon at the Church Members’ Meeting. The constitution sets out procedures and thresholds for decision making, though the aim is for decisions to be made by consensus.

Trustees are appointed according to rules set out in our constitution. Nominations are made from the church membership, considered by the Elders, and appointed by the members of the church through a vote at a Church Members’ meeting. Trustees are provided with guidance for their role using documents supplied by the Baptist Union, which also sign-posts the Charity Commission guidance Trustees are required to be familiar with.

We have had a group of 6 Trustees through 2022, but Herman Marais our Safeguarding Trustee stepped down in January 2023. Our team already felt stretched with the various demands upon it, and there is an urgent need to recruit new trustees – especially given the upcoming retirement of Rev Jacqui Green.

The full Trustees group met 6 times during the year.

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Stony Stratford Community Church

CHURCH ANNUAL REPORT (continued)

FOR THE YEAR ENDED 31ST MARCH 2023

OBJECTIVES AND ACTIVITIES

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

R- adical Living

A- cceptance

C- ommunity Focus

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 church conducts public worship services which are open and advertised to those in the locality, as well as carrying out regular activities to advance the Christian Faith and serve the community held in our building and in other locations. The Trustees regularly consider ways to maximise effectiveness and have regard to the Charity Commission guidance on public benefit.

Activities listed in our rules of particular relevance to this public benefit are:

Our buildings and systems are important resources for this to happen, and the Trustees oversee their upkeep and maintenance.

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Stony Stratford Community Church

CHURCH ANNUAL REPORT (continued)

FOR THE YEAR ENDED 31ST MARCH 2023

ACHIEVEMENTS AND PERFORMANCE

Sunday Worship & Prayer

A public worship service is held each Sunday morning, including sung worship, Bible reading and prayer. First, third and fifth Sundays incorporate a sermon – themes covered throughout the year include the “…one another” Bible verses and spiritual disciplines (e.g., prayer, fasting, serving, celebration). Second Sundays are our “Sundays Out” weeks where we meet together for a shorter time before heading out to share with our local community through activities (see the section on Mission below). On fourth Sundays, instead of a sermon we recount stories of God at work in and through our lives as an encouragement to one another to demonstrate God’s goodness and love to those around us. This is followed by a shared lunch together and some training in sharing our faith with others in order to make Jesus known to those beyond our church community. Groups for youth and children meet each Sunday apart from Sundays Out weeks when all are involved in the community activities.

Each month there is a Prayer and Worship evening on one Sunday which provides more time to engage with key practices of the Christian faith.

We have also continued offering regular Messy Church services, which give a firsthand approach to worship for all ages. These take place on Sunday afternoons and are often attended by families from the area who are not involved in church at other times. In 2023 we have increased from 3 of these services a year to bimonthly.

Church Family

As a church “family” we have our share of ups and downs and have had to face some disagreements together. We have worked through a process of resolving some lingering concerns among some members about the direction of the church, making space for honest and frank listening and discussion. We are pleased to say that we were able to come to a place of drawing a line under these matters at a members’ meeting in January 2023, resolving to move forward together and recommitting to one another.

In the time covered by this report our membership figure has stayed the same. One member resigned and one, Ann Outten, was promoted to glory. However, we also gained two new members.

Rev Stuart Earl, our Associate Minister, was able to take a three-month sabbatical for rest and refreshment during the summer of 2022. Baptist Ministers are entitled to this break once every 7 years.

Youth and Children

As well as the Sunday morning groups, we offer clubs that are open to the wider community on Friday evenings in our building. There is a fortnightly event for children called 635 Club, and a youth club that was running fortnightly but has become monthly. Both of these include a variety of fun activities and opportunity for socialising, but also for learning and support.

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Stony Stratford Community Church

CHURCH ANNUAL REPORT (continued)

FOR THE YEAR ENDED 31ST MARCH 2023

Mission

We have engaged in a wide range of activities as means by which we seek to advance the Christian faith in ways which also demonstrate clear public benefit.

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 of Jesus to them. The activities include 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 (usually giving away flowers) and other opportunities to engage people in conversation on the street and pray for them.

Missional Communities

The three groups seek to balance worship and care for one another, with work in evangelism and service to the community. Details of these groups are publicly available on our website.

The Sunday Group continues to be the driving force behind the Hygiene Bank for Milton Keynes, providing personal care items to those who need them through community partnerships. They are also working with partners to expand Kintsugi Hope wellbeing sessions in the area, including provision for young people.

The Thursday Group has increased the frequency of Messy Church events (see the section on Sunday Worship & Prayer) and provided regular cake drops for the staff of 3 local schools to encourage them. The community football events that run as part of Sundays Out are also a project of this group.

The “CONNECT” group runs the monthly Souper Saturday events and has continued work with Parks Trust members to establishing a community orchard.

Life Groups

The church has 6 mid-week “Life Groups” which meet in people’s homes or using the church building. These provide an opportunity for spiritual growth and discipleship, as well as providing pastoral care for the group members. Information regarding these groups is also available on our website.

Community Outreach

We provide a variety of regular sessions to reach out and serve a wide cross-section of our community:

Weekly: Mini Blessings (our parent/carer and toddler group) and Drop In (providing a meal and social contact – mainly attended by older people).

Fortnightly: Memory Club (dementia friendly social time).

Monthly: Fellowship Tea (social event for older people). Souper Saturday (Soup and social time).

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Stony Stratford Community Church

CHURCH ANNUAL REPORT (continued)

FOR THE YEAR ENDED 31ST MARCH 2023

Winter Months: Winter Night Shelter (homeless provision fortnightly from December to March - providing venue, co-ordinator and some team)

Annually: Folk on the Green concert town event (we gave away 1000 bottles of water), and Christmas Lights switch on town event (we gave away around 800 cups of hot chocolate). In August we ran a free treasure hunt activity for families utilising QR code technology, video clips, and activities.

One-off: Platinum Jubilee Celebrations – we offered resources and encouragement to church members to organise their own street events (including a booklet to give away about the Queen’s faith) and organised a cream-tea of our own. Death of Elizabeth II: we opened a book of condolence and made our building available to the community for quiet prayer/reflection.

Buildings/Facilities

The youth team asked on behalf of the young people whether they could enhance the room where they hold most of their sessions. The space was completely refurbished and refreshed during the autumn of 2022 in consultation with the young people and youth team.

The access ramp path was refurbished, and a handrail installed to improve accessibility to our building for those in our church and the wider community.

We also commissioned a Quinquennial Review which was carried out to identify building issues which require consideration or action. Urgent items have been given priority, with some longer-term issues requiring attention also.

Safeguarding

The Church has necessary policy and procedures in place and operates systems to ensure that all people working with children and vulnerable adults are appropriately vetted by the Disclosure and Barring Service.

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Ston Stratford Communi Church CHURCH ANNUAL REPORT (continued) FOR ThE YEAR ENDED 31ST MARCH 2023 CONCLUSION The Trustees are satisfied that the activities oulined above dearfy demonstrate th81 the charity is providing a benefit to the public with regard to fhe Charty Commission guidance. This year has been ￿11 of athity. but also a time for refiection and consideration following the announcement that our Senior Minister, Rev Jacqui Green was to retire in Apnl 2023. Rev Green has been a minisler of the church since 1984, and Senior Minister for 29 years. Although this announcement was not a sho￿, tt is a significant change and planning for thè future has been a large emphasis for the Elderrrrustees and wider church during the time covered in this reporL There are many questions and uncertainties to face, but this is accompanied by hopeful anticipation for what is to come. Rev Stuart Earl, Mlnlster (Team Leader) TruJl•g$' Res onsibilities The Chantses Act 2011 require the trustees to prepare financial statements for each financial year whith give a true and fair wew of the state ol affairs of the Charity and of the surF4us of Ihe Charity for that period. In preparing those financial statements the trustees are required to.. Select sultable accounting policies and apply them ¢onsist8ntly Make judgements and eslimal8s that are reasonable and prudent Prepare financial statements on the going concern basis unless it is inappropriate to presume that the trust will continue in existence. The trustees are responsible for keeping proper accounting record$. whith disck)8e with reasonable accuracy at any time the ffinanual posthon of the Charty. The are also responsible for safeguarding the assets ofthe Charity and hence for tsking reasonable steps for the prevention and detection of fraud and other Irregularit￿$. Approved by the Trustees on: Signed on their behalf by Truskes: PrinlÈd Name..

Stony Stratford Community Church

STATEMENT OF FINANCIAL ACTIVITIES

Stony Stratford Community Church

Statement of Financial Activities

For the period from 01 April 2022 to 31 March 2023

Notes Unrestricted Restricted Total Prior Year
Funds Funds Funds Total Funds
Incoming resources
Donations, Legacies and similar incoming resources 3a/3c 158,971 15,276 174,246 165,172
Investment income 3b 3,430 0 3,430 10,805
Other incoming resources 3d 552 0 552 870
Total income 162,952 15,276 178,228 176,846
Resources used
Costs of generating funds 4e 18 16 34 801
Grants payable in furtherance of charity's objects 4a 530 22,774 23,304 24,440
Activities in furtherance of the charity's objects 4b 109,507 791 110,297 109,611
Support costs 4c 51,831 0 51,831 27,486
Expenditure on managing-administering the charity 4d 4,906 0 4,906 11,320
Total expenditure 166,792 23,580 190,372 173,659
Net income / expenditure resources before transfer (3,840) (8,305) (12,144) 3,188
Transfers 5
Gross transfers betw een funds - in 10,636 9,360 19,996 10,165
Gross transfers betw een funds - out (10,916) (9,080) (19,996) (10,165)
Other recognised gains / losses
Net movement in funds (4,120) (8,024) (12,144) 3,188
Reconciliation of funds
Total funds brought forward 175,803 1,331,365 1,507,167 1,503,979
Total funds carried forward 171,683 1,323,340 1,495,023 1,507,167
There may be minor discrepancies in the totals if the pence are not being shown

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Ston Stratford Communi Church BALANCE SHEEr Stony Stratford Comrnunity Church Balance Shett As AL. 31 Plavch 2023 G•n•r41 D•¥lgn•t•d ￿¥trI¢l•d A¥At AsAt nd Fund Fundi s11￿12023 111031Z02Z Tan0￿ as5Ots 220.2 1.032,979 IIJJ 1.253.179 223.33B 1,032.979 1,2K317 225.378 1,032,D7 1218.JS Curr•nt••wts atwj ¥vork 349 349 572 0.100 261.021 tb CAsh al bank antr kn urr•nl •••tA 1.959 16.149 128. 87.714 212.852 239, C¥edknr8 A￿￿untS l￿du8 n one year t curr•niui•t• or IhilAIbl￿s (9BI 70,111 2.208 1M.436 1I10B 2J470B Tot•1 •B¥•t¥ l••¥ curr•nt U•bIl￿1•* IlQ.742 X.941 1.a23.340 1,4K029 1.007.11Y Total th•t w¥•t$ ov Il•blltl•• 1JO.742 20.MI 1.32SS40 1.107.1e7 150,742 150,742 20,911 1.323242 138.235 37.587 1.331.388 $trktsd 1,323.342 Ftsndi ol th• ¢hur¢h 160,742 20.•41 1,324340 .107,117 There may te mlw (m¥¢rer￿￿1ts In the toi#l$ rttho porte arn nLS boivj slvy Approvèd by the Trustees on.. Signed on their behalf by Trustees.. Pnnted Name..

Stony Stratford Community Church

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2023

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 note(s) to these accounts. The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities (SORP 2015) (Second Edition, effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (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:

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.

12

Stony Stratford Community Church

NOTES TO THE FINANCIAL STATEMENTS (continued)

FOR THE YEAR ENDED 31ST MARCH 2023

1. ACCOUNTING POLICIES (Continued)

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.

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.

13

Stony Stratford Community Church

NOTES TO THE FINANCIAL STATEMENTS (continued)

FOR THE YEAR ENDED 31ST MARCH 2023

1. ACCOUNTING POLICIES (Continued)

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.

14

Stony Stratford Community Church

NOTES TO THE FINANCIAL STATEMENTS (continued)

FOR THE YEAR ENDED 31ST MARCH 2023

2. TANGIBLE FIXED ASSETS

Stony Stratford Community Church

Tangible Fixed Assets

Financial Year 2022-23

Restricted Restricted Unrestricted
Freehold
Property
Purchased
Equipment

Purchased
Equipment

Total
Gross Block
Costs As At 01/04/2022
Additions
Revaluations
Disposals
Costs As At
31/03/2023		 1,253,179
0
0		 16,968 89,397
0
0
0		 1,359,544
0
0
0
1,253,179 16,968 89,397 1,359,544
Depreciation
As At
01/04/2022
Charge
As At
31/03/2023
Equipment Y/E 2020
Equipment Y/E 2023
Equipment Y/E 2022
Equipment Y/E 2021		 0
0
0
0
0		 16,968
0
0
0
0		 84,221
0
530
827
680		 103,952
0
530
827
680
0 16,968 86,258 105,989
Net Book
As At
31/03/2023
As At
31/03/2022		 1,253,179 0 3,139 1,256,318
1,253,179 0 5,176 1,258,355

The annual commitments under non-cancelling operating leases and capital commitments are as follows:

31st March 2023 : None

31st March 2022 : None

Notes

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Stony Stratford Community Church

NOTES TO THE FINANCIAL STATEMENTS (continued)

FOR THE YEAR ENDED 31ST MARCH 2023

3. INCOMING RESOURCES

Stony Stratford Community Church

Incoming Resources

Selected period: 01 April 2022 to 31 March 2023

----- Start of picture text -----
Notes Unrestricted Designated Restricted This Year Last Year
3a) Donations, Legacies and similar incoming resources
Bank Transfer Donations 5 61,666 0 4,496 66,162 75,369
Recovered Gift Aid & GASDS 45,539 3,679 3,647 52,865 29,301
Offerings at services 5 5,152 0 80 5,232 3,451
Other regular donations 5 29,704 0 110 29,814 34,518
Non regular donations 5 4,986 550 550 6,086 5,585
Communion offering 5 0 0 781 781 1,286
On trust giving 5 0 100 4,775 4,875 4,735
Memory Club 0 0 458 458 284
Online donations 621 0 379 1,000 1,233
Legacies 0 0 0 0 542
Building Maintenance & Development 0 6,974 0 6,974 8,869
Sub Total 147,668 11,303 15,276 174,247 165,173
3b) Investment income
Interest on bank accounts 5 317 0 0 317 120
Property Lettings 5 0 3,113 0 3,113 10,685
Sub Total 317 3,113 0 3,430 10,805
3c) Other incoming resources
Hire of premises 90 0 0 90 0
Weddings & Funerals 0 462 0 462 870
Sub Total 90 462 0 552 870
Incoming resources Grand totals 148,075 14,877 15,276 178,228 176,846
There may be minor discrepancies in the totals if the pence are not being shown
----- End of picture text -----

NB. Whilst the income line related to “Recovered Gift Aid & GASDS” has almost doubled compared to last year, this is due to a required change in how Gift Aid is recorded in our accounts, with the anticipated Gift Aid now being recorded in the period during which the donation was received.

The impact of this change means that, for this reported financial period, this entry records both the income we have received on donations received in the previous year (our previous practice), plus the income we anticipate receiving on donations received during this reported financial year. With the change in Gift Aid recording practice, this anomaly should not arise in future years.

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Stony Stratford Community Church

NOTES TO THE FINANCIAL STATEMENTS (continued)

FOR THE YEAR ENDED 31ST MARCH 2023

4. RESOURCES USED

Stony Stratford Community Church

Resources Used

Selected period: 01 April 2022 to 31 March 2023

----- 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 5,850 5,850 6,660
MSG 0 0 11,136 11,136 11,212
On trust payments 0 530 5,788 6,318 6,569
Sub Total 0 530 22,774 23,304 24,441
4b) Activities in furtherance of the charity's objects
Books 400 90 0 489 292
Conferences 1,090 168 0 1,258 995
Evangelism 1,441 0 0 1,441 916
General pastoral 341 0 0 341 116
Leadership training 63 0 0 63 659
Manse Costs 4,572 0 0 4,572 3,479
Office 321 0 0 321 79
Telephone 655 0 0 655 560
Photocopying 262 0 0 262 102
Public address system 584 0 0 584 496
Salary Pensions NI Accommodation 96,454 475 0 96,929 98,655
Sanctuary site development 0 0 0 0 119
Special events 171 0 0 171 113
Transport 1,090 512 0 1,603 686
Children & Youth 507 0 0 507 558
Community Care 57 0 791 848 581
Sabbatical Costs 0 250 0 250 0
Service Costs 5 0 0 5 18
Church At Home Related Costs 0 0 0 0 1,186
Sub Total 108,013 1,495 791 110,299 109,610
4c) Support costs
Building & Maintenance 5,351 23,735 0 29,086 13,297
Cleaning Services 699 0 0 699 0
Church Kitchen Supplies 1,023 0 0 1,023 2,426
Insurance 2,647 0 0 2,647 1,885
Utilities 2,225 0 0 2,225 4,104
Property letting 3 14,134 0 14,137 2,142
Internet Based Services 2,006 0 0 2,006 3,424
Covid 19 Related Costs 0 0 0 0 209
Safe Guarding 10 0 0 10 0
Sub Total 13,964 37,869 0 51,833 27,487
4d) Expenditure on managing-administering the charity
Comms General 48 0 0 48 46
Bank charges 72 0 0 72 98
Professional fees 1,417 0 0 1,417 3,058
Subscriptions 428 0 0 428 1,390
Resource Copyright 904 0 0 904 1,415
Depreciation (Designated) 729 1,309 0 2,037 5,314
Sub Total 3,598 1,309 0 4,906 11,321
4e) Costs of generating funds
Fund raising expenses 0 0 0 0 767
Bank charges (fund raising) 18 0 16 34 34
Sub Total 18 0 16 34 801
Resources used Grand totals 125,590 41,202 23,580 190,372 173,659
----- End of picture text -----

There may be minor discrepancies in the totals if the pence are not being shown

17

Stony Stratford Community Church

NOTES TO THE FINANCIAL STATEMENTS (continued)

FOR THE YEAR ENDED 31ST MARCH 2023

5. RESTRICTED FUNDS

Stony Stratford Baptist Church

Restricted Funds

Selected period: 01 April 2022 to 31 March 2023

On trust - MSG
On trust - Funds
On trust - Family Fund
Sanctuary Buildings
Manse Purchase Fund
Building Development Funds
Building Development Funds Phase 2
Memory Club Fund
Missional Development Fund
Manse Refugee Fund
Ukraine Appeal Fund
Pakistan Flood Fund
DNIPRO Hope Fund
St. Marks Meals Fund
Retirement Gift Fund
East Africa Famine Fund		 Brought
Forward
Incoming
Resource
Outgoing
Resource
Transfers
Gains And
Losses
Carried
Forward
15,602
1,467
10,461
9,360
0
15,969
3,236
4,583
3,982
0
0
3,838
4,226
5,513
5,854
0
0
3,885
1,032,979
0
0
0
0
1,032,979
273,825
0
0
(9,080)
0
264,745
746
0
0
0
0
746
97
0
0
0
0
97
915
458
719
0
0
654
(300)
0
300
0
0
(600)
0
775
5
0
0
770
40
10
50
0
0
0
0
614
564
0
0
50
0
490
469
0
0
21
0
490
469
0
0
21
0
186
6
0
0
180
0
689
702
0
0
(13)
Totals 1,331,366
15,275
23,581
280
0
1,323,342

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 and is administered by a team appointed by the church.

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.

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.

18

Stony Stratford Community Church

NOTES TO THE FINANCIAL STATEMENTS (continued)

FOR THE YEAR ENDED 31ST MARCH 2023

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.

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.

Manse Refugee Fund – this fund was setup to receive donations towards the cost of upgrading the décor of the church Manse in anticipation of hosting a refugee family from Ukraine. A family from Ukraine are now our guests in the Manse.

Retirement Gift Fund – this fund was setup to receive donations towards a gift for Rev. J. Green who will retire early FY2023.

Ukraine Appeal Fund – This was a little used fund that received donations from one individual toward the Ukraine appeal fund. These funds have been forwarded to the appeal on behalf of the church.

The remaining funds listed were set up to receive donations made by individuals in the church, to the church, in the expectation of those funds being forwarded to the relevant organisations. These funds were forwarded, and included an amount calculated to represent the anticipated Gift Aid that would be received on these donations. However, in calculating the Gift Aid we failed to include an element for the cash based GASDS donations. The small positive balances in these funds reflect the anticipated accrued GASDS element on these donations, and these will be forwarded to the relevant organisations during FY 2023/2024.

19

Stony Stratford Community Church

NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST MARCH 2023

6. CASH AT BANK & IN HAND

Stony Stratford Baptist Church

Cash At Bank & In Hand

As at: 31 March 2023

BB_CURR : Barclays - Current Account
BB_FF : Barclays - No 2 Account
CAFCURR : CafCash Current Account
CAFPLAT : Caf Platinum
BU Corp: Manse Account Funds
PC-ALPHA : Petty Cash - Alpha catering
PCDROPIN : Petty Cash - Drop In
PCTREASURY : Petty Cash - Treasury
PC_OFFICE : Petty Cash - Office
PCMEMORY : Petty Cash - Memory Club
PAYPAL : Virtual Bank
PCBELVOIR : Petty Cash - Belvoir Float		 General
Designated
Restricted
Total
Last Year
11,639
4,058
997
16,694
50,682
0
0
1,782
1,782
4,182
106,141
2,091
17,714
125,945
117,880
10,787
10,000
0
20,787
20,645
0
0
47,039
47,039
56,119
83
0
0
83
83
235
0
0
235
235
48
0
(28)
20
(130)
55
0
(12)
44
44
0
0
222
222
160
0
0
0
0
0
0
0
0
0
200
Totals 128,988
16,149
67,714
212,851
250,100

BU Corp: Manse Account Funds – These funds are held on trust by the Baptist Union Corporation for SSCC, and represent the remainder of the proceeds from the sale of a former Manse, following the clearing of the mortgage on SSCC’s remaining manse property at 75 Boundary Crescent, in accordance with the agreement of the Baptist Union Corporation.

We have had cause to call on some of these funds during this year to help fund building renovations to the Manse.

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. Whilst the account still exists, it is not currently used.

20

Stony Stratford Community Church

NOTES TO THE FINANCIAL STATEMENTS (continued)

FOR THE YEAR ENDED 31ST MARCH 2023

7. DEBTORS & PREPAYMENTS

Stony Stratford Baptist Church

Debtors & Prepayments

As at: 31 March 2023

Accounts Receivable
HMRC Gift Aid Recovery Year End Accrual
HMRC Gift Aid Recovery Pre Payments		 General
Designated
Restricted
Total
Last Year
278
338
352
967
572
21,721
1,621
1,825
25,166
0
0
0
173
173
0
Totals 21,999
1,959
2,350
26,306
572

21

Stony Stratford Community Church

NOTES TO THE FINANCIAL STATEMENTS (continued)

FOR THE YEAR ENDED 31ST MARCH 2023

8. CREDITORS: AMOUNT DUE WITHIN ONE YEAR

Stony Stratford Baptist Church

Creditors: Amounts Due Within One Year

As at: 31 March 2023

Agency Collections
Accounts Payable		 General
Designated
Restricted
Total
Last Year
0
0
(98)
(98)
(98)
900
0
0
900
2,307
Totals 900
0
(98)
802
2,209

8a. CREDITORS: AMOUNT DUE AFTER ONE YEAR

Stony Stratford Baptist Church

Creditors: Amounts Due After One Year

As at: 31 March 2023

General
Designated
Restricted
Total
Last Year
Totals 0
0
0
0
0

22

Stony Stratford Community Church

NOTES TO THE FINANCIAL STATEMENTS (continued)

FOR THE YEAR ENDED 31ST MARCH 2023

9. STAFF COSTS & NUMBERS

Stony Stratford Community Church

Staff Costs & Numbers

Financial Year 2022-23

Staff Costs
Gross Wages & Salaries
Employer's National Insurance
Employer's Pension		 This Year
Last Year
62057
60625
1017
1594
11055
13636
Total
Staff Numbers
Engaged in activities in furtherance of Charity's Objectives		 74129
75855
This Year
Last Year
2
2
Total 2
2

Gross Wages & Salaries –

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.

23

Stony Stratford Community Church

NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST MARCH 2023

10. TRUSTEES AND OTHER RELATED PARTIES

Stony Stratford Community Church Payments To Custodian Trustees And Affiliated Groups Financial Year 2022-23

Nominal Account
Baptist Home Mission
Baptist World Mission		 This Year Last Year
1,200
1,200
1,200
1,200
Total 2,400
2,400
There may be minor discrepancies in the totals if the pence a re 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.

24

Stony Stratford Community Church

NOTES TO THE FINANCIAL STATEMENTS (continued)

FOR THE YEAR ENDED 31ST MARCH 2023

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.

25

Stony Stratford Community Church

PENSIONS COMMUNICATIONS

FOR THE YEAR ENDED 31ST MARCH 2023

The following communication was received on 29[th] July 2022 regarding the Baptist Pension Scheme. For further information on the history behind this communication please consult prior year account reports.

The Baptist Pension Scheme (“the Scheme”) – Defined Benefit (“DB”) Plan

Update on risk reduction and future employer Deficit Recovery Contributions

To all employers participating in the Baptist Pension Scheme’s DB Plan,

This email is being sent to you jointly from the Baptist Union and the Trustee of the Scheme as a participating employer in the Defined Benefit section of the Baptist Pension Scheme. It sets out some very positive news on the future of the Scheme’s DB Plan and your contributions to it.

Buy-in policy

We are very pleased to announce that we have signed an agreement with the insurance company Just Group (“Just”) to secure DB Plan members’ pension benefits. This agreement is referred to as a ‘buy-in policy’. It follows a similar agreement with Just in 2019 that covered most pensions in payment at that time. The combined agreements mean that just are now providing financial backing for all DB pensions provided through the Scheme’s DB Plan.

Deficit Recovery Contributions (DRCs)

The costs of such policies are largely driven by financial markets and these have moved substantially in the Scheme’s favour, particularly over the course of the last few months. As a result, this transaction takes the Scheme out of a shortfall position for the first time in two decades. Although risks remain, the Baptist Union and the Trustee have agreed that deficit recovery contributions from each participating employer in the DB Plan will reduce to just £1 per month from August 2022.

We are sure you will be pleased to hear this news. We have set out more information below and answered some immediate questions you might have but we appreciate there are more questions that will arise. The Trustee and the Baptist Union are considering the implications for the future management of the Scheme and will provide further information in the next few months.

26

Stony Stratford Community Church

PENSION COMMUNICATIONS (continued)

FOR THE YEAR ENDED 31ST MARCH 2023

How does this affect benefits to members of the DB Plan?

We want to reassure you that the purchase of this new buy-in policy does not change the benefits members or their dependants are currently entitled to receive from the DB Plan. The Trustee continues to be responsible for the DB Plan and the benefits members receive will continue to be paid from the Scheme for the time being. The Trustee has written to every DB Plan member to explain the agreement and reassure them on this point.

Who are Just?

Just is a well-established publicly listed UK Insurance Company who specialise in taking over pension scheme liabilities and all the risks associated with them. The Trustee is already familiar with Just, following the similar transaction in 2019.

Just is regulated by the Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA) and the Trustee obtained advice about the finances of Just as part of reaching agreement. In the extremely unlikely event of Just becoming insolvent, member benefits will be protected under the Financial Services Compensation Scheme (FSCS).

How does a buy-in work?

Under the Trustee’s two buy-in policies with Just (the new one and the one from 2019), the Trustee has paid a premium to Just in exchange for which Just has taken responsibility for meeting the cost of pension benefits due from the DB Plan in the future. Securing benefits in this way reduces the risk that the DB Plan is adversely affected by movements in financial markets, changes in life expectancy or other external factors beyond the Trustee’s control.

The ‘buy-in’ is an important step towards setting up individual pension arrangements (or “annuities”) for each member of the DB Plan. This is known as a ‘buy-out.’ Once this exercise is complete it will be Just, and not the Trustee, who is responsible for looking after the DB Plan pension benefits. This process is anticipated to complete in the next couple of years and we will keep you updated on progress.

Before the buy-out can be completed there is a lot of work to be done on behalf of the Scheme to ensure members are treated fairly, residual investments are managed down, expenses are controlled, risks are removed and the Scheme continues to meet regulatory requirements. The Trustee and the Baptist Union are working collaboratively in these areas. Until the buy-out and wind-up are complete not all risks relating to the DB Plan are removed, for instance the Trustee is currently working through a process of confirming all benefits due post wind-up which may result in additional costs.

27

Stony Stratford Community Church

PENSION COMMUNICATIONS (continued)

FOR THE YEAR ENDED 31ST MARCH 2023

How does this affect the finances of the DB Plan?

The Trustee has sold most of the DB Plan’s investment assets and used the proceeds to pay the initial premium for the insurance policy from Just. Unfortunately, there are some investment assets remaining that could not be sold immediately, and these will be disposed of over the coming months. A portion of the premium for the insurance policy was deferred to account for the anticipated timeline for these disposals.

Because the Just policies cover the overwhelming majority of the DB Plan’s liabilities the risks to employers are substantially reduced. However, there remain elements of the DB Plan’s finances that are uncertain prior to the completion of the buy-out process. The uncertainties include:

At the current time, we expect the assets of the DB Plan will be sufficient to cover all the costs and liabilities that remain. However, it is possible that if things turn out worse than anticipated that further funds will be needed from employers.

What does this mean for future contributions?

The Trustee and the Baptist Union have agreed that DRCs will reduce to £1 per month for each employer from the August 2022 payment until June 2026. Currently, we do not anticipate reinstating the requirement to pay full DRCs in the future but we cannot rule that out at this stage. Participating employers remain responsible for providing a share of any additional funds that the DB Plan may require in future. That is why we are maintaining the direct debit deductions at £1 per month for the time being.

As part of the agreement to reduce contributions in this way, the Baptist Union has agreed to put £3m aside in an escrow account which could be used to provide additional funds to meet the liabilities of the Scheme if required. This additional money helps to provide further security to the Scheme.

The monthly contributions will continue to be publicised via 4MyStaff on or around the 10th of every month, you will therefore be able to view the new reduced contribution rate on 10th August 2022.

Does this affect the Defined Contribution (“DC”) Plan within the Scheme?

The DC Plan continues to operate as normal. Employer and member contributions to the DC Plan will be collected in full each month as before and funds will continue to accrue for active members. The ‘buy-in’ agreement with Just relates only to the DB Plan.

28

Stony Stratford Community Church

PENSION COMMUNICATIONS (continued)

FOR THE YEAR ENDED 31ST MARCH 2023

What about cessation events?

Despite the change in shortfall position, the Scheme still operates under a legislative regime that has strict rules about cessation events (triggered when an employer does not have any active members participating in the DC Plan). The processes set out on the Scheme website (Baptist Pensions | Cessation Events, Baptist Pensions | Periods of Grace and Interim Ministers) should still be followed in terms of notifications, periods of grace, interim members etc. We will provide further information on this area in due course.

Any cessation events that took place prior to 1 July 2022 still have to be processed on the basis of the shortfall position that applied prior to the buy-in transaction being completed. Debts which have been notified to you as being due remain payable.

What else do I need to know?

This is a major step forward in the journey to removing any risk of employer debts arising for DB Plan employers and we are thankful that we are able to remove the employer contribution burden at this point. However, we are not fully there yet. Please be patient as we work through the process and provide more information in the next few weeks and months.

Yours sincerely

Chris Maggs Moderator of the Scheme’s Trustee Board

Tim Jackson

Moderator for the Baptist Union’s Employers’ Group

Issued for and on behalf of the Baptist Pension Scheme

29

Ston Strafford Communi Church INDEPENDENT EXAMINER'S REPORT ON THE ACCOUNTS Rewrt to the trust￿￿ nmber5 of Stony Stratfrxd C(rnunty Church the accounts for the year ended 31st Maich 2023 set out on pages 10 10 25. R•sp•ctSve Responslbllrtle• of TruBtees and Ex•mln•r The charws Injstees are resFongbk for the yepara￿n of the ac¢ounts. The charty's tru5t8es consider that an audit Is not required for this year under secbon 144 of the Charrties Ad 2011 Ilhe Charities Act) and that an independent examinab.on Is needed. It is my responsibility lo". examine the aCC￿nts ur¥Jer sectKJn 145 of chartt￿5 A to fdlow the pr￿edureS laid dcmn In the 9ener81 Direthons given by the Charity CoMmiss￿n lundtr se¢li¢n 14515llbl of the Chanties A¢t. and to state whether partthlar matters have lo my attenlKJn 8asl8 of Indgp8nd•nt examln•r' SLgt•m•nt My eXaMinat￿n was ¢ame(l out in ac£ordance wrth gener•1 Di￿GI￿)n8 gNen by the Chanty CommissL)n. An examinati¢￿ includes a ievw of the actounting records kept by the chanty and comparison ol the a¢courtts presented with those reccrfds. It also includes ¢on51deratson of any unusual items of disclosures In the accounts and seeking explanations from the trustees concerning any such matters. The procedures undert8ken do not provide al the evidence that woukj be required in an audit, and consequently no opinion is givon 88 lo whether thè accounts present a 'true and lair, view and the r•FQrt ￿ Ilmited lo those matters set out in the slatem•nt Indownd•rt examln•f• Stst•mènt In connectKJn with my examin'on. no malter has comè to my attenlrn". which gives me reasonaNe cause lo believe itial In. any m8tsn.al resrt the fequirements.. to keep accounling ￿cordS In accordance with sectson 130 of the Charrties Act,. and to prepare ¥ccwnis which accord with the records and ￿MPty with Ihe 8¢counting requirements ol the Charities Act have not been met.. or 2. to which, in my opinicffj. attents'on should be dr￿ in order to ènabl8 a proper under5tsnding of the aGwunts lo be reached K. Collaku MAAT Castle View Accountrng Ltd New Barn Mudberry Lane 8osham ChiGhE3tei West Sussex P019 8TS Datsd.. 2P November 2023 30