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2022-12-31-accounts

Charity registration number 1132127

SEAFORD BAPTIST CHURCH

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

SEAFORD BAPTIST CHURCH

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees J Chapman
J Howell
Rev A Machin
S White
S A Fatkin
A R Rowswell (Appointed 16 January 2022)
R J Reed (Appointed 16 January 2022)
A Lowe
Charity number 1132127
Principal address Belgrave Road
Seaford
East Sussex
BN25 2EE
Independent examiner Darren Harding ACA, FCCA, DChA
Alexandra Durrant
10A-12A High Street
East Grinstead
West Sussex
RH19 3AW

SEAFORD BAPTIST CHURCH

CONTENTS

Page
Trustees' report 1 - 2
Statement of Trustees' responsibilities 3
Independent examiner's report 4
Statement of financial activities 5 - 6
Balance sheet 7
Notes to the financial statements 8 - 20

SEAFORD BAPTIST CHURCH

TRUSTEES' REPORT

FOR THE YEAR ENDED 31 DECEMBER 2022

The Trustees present their annual report and financial statements for the year ended 31 December 2022.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's constitution, the Charities Act 2011 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019).

Objectives and activities

The charities objects are the advancement of the Christian faith according to the principles of the Baptist denomination. The policies adopted in furtherence of these objects are set out in the notes to the financial statements.

The Trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.

Achievements and performance

The Trustees of Seaford Baptist Church usually meet each month and are responsible for the pastoral, evangelistic, social and ecumenical mission of the church. They are also responsible for the maintenance of the main church building in Belgrave Road Seaford, the manse in Chichester Road and the community outreach centre at the Cabin in Raymond Close, Seaford. All major decisions about policy and expenditure are taken by the church members meetings which are held at least four times a year.

The Trustees always have due regard to the charity commission's guidance on public benefit and they are committed to enabling as many people as possible to be part of the worshipping community. Members come from a wide variety of socio-economic groups and ethnic backgrounds. Church members and others who attend regularly are actively encouraged to live out their faith as part of the community of Seaford.

During the year 3 baptisms took place. Membership of the church decreased slightly but attendance increased. During 2022 eight funerals were conducted at the church.

The Members and attendees were pleased to be able to resume normal church attendance in the aftermath of Covid 19. We have continued to provide extra space and hygiene facilities for vulnerable people. We have continually sought to operate within the terms of the government guidelines and have been alert to local infection rates. We are pleased to say the church has suffered minimal effects of the virus.

We have continued to employ a part time Facilities Coordinator, a part time Office Assistant and a Youth Worker who has reduced his hours to 30 per week. He rents the church Manse at a reduced rate. In October 2022 our part time Community Worker left to take up another post. This position has been vacant but we expect to employ a replacement in Spring 2023.

Recording and live streaming services has continued through 2022. This has enabled larger numbers of people than normal to view and participate in the services. Some have described it as a lifeline for them. This facility is available to other groups that use our premises. It has been used particularly for funerals. We expect this facility to continue to be used in the coming years.

Our regular small groups have met regularly and some groups have continued to use our Zoom account and meet online.

The youth work has continued its activities with Friday Night Youth Club; Forest Church. Children’s Church and Who Let The Kids Out meets monthly on Sunday mornings. An all age service takes place once a month.

Our Social Action groups continue to be popular. Scallywags, held weekly is a group providing opportunity for parents/carers of young children to meet in a safe and friendly environment. Heartsease meets monthly and provides the community with care and support for those who have been widowed. In November 2022 we began to run a Warm Room on Tuesday and Wednesdays.

During the first half of 2022 the work at the Cabin continued to host approximately 50 children per week through Kids’ Art and Craft clubs. Café Church and other family events continued. Support groups for adults were held through Coffee Pot, Breakfast Club and a Reflective Service. Some of this work has declined or been suspended since the departure of our Community Worker. In the last quarter of 2022 we hosted approximately 20 children per week and Coffee Pot continued to run with around 12 adults per fortnight. The Community Garden has been developed which has proved popular.

page 1

SEAFORD BAPTIST CHURCH

TRUSTEES' REPORT (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2022

SBC buildings in Belgrave Rd and the Cabin at Raymond Close are very valuable community resources and the Trustees are keen to make them available as much as possible for the public benefit. The auditorium at the church is one of the biggest in the town and the various rooms have been frequently used mainly for community groups and local musical societies. The Facilities Coordinator manages the buildings and there have been many positive comments from users about the quality of service that the church provides to the wider community.

The level of activity and rental income from these users has increased during 2022 and we have been pleased to welcome some new groups to the premises, including Haven Happy Club (a dementia group) and Arty Kids Club.

As a result of the increased use of the premises and sacrificial giving by members of the Church, we are pleased to report that the General Fund ended the year with a surplus of £3,178 against a forecast deficit of £8,763 before accounting for the amalgamation with Coastlands Baptist Church.

The process of amalgamating with Coastlands Baptist church was carried out under the leadership of our Treasurer and Safeguarding Trustees. The papers were finally signed in October 2022. This legal process incurred expense but we have received assets from Coastlands – a cash sum and ownership of a flat in Newhaven which is currently rented to tenants and managed by Agents. A small loan remains to be paid off to the Baptist Union for this. Coastlands church was very small and all the members have dispersed.

Early Birds pre-school has continued to provide high quality nursery education for around 30 children. It is well known in the town and has a reputation for helping children with special needs. They run their own budget which is accounted for separately from the church but included in the overall Church accounts.

Financial review

It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to six months' expenditure. The Trustees considers that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has not been achieved this year. The Trustees are making plans to address this.

The Trustees have assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.

Structure, governance and management

The Trustees who served during the year and up to the date of signature of the financial statements were:

J Chapman J Howell Rev A Machin P Smoker (Resigned 16 January 2022) S White S A Fatkin A R Rowswell (Appointed 16 January 2022) S D Richards (Resigned 13 December 2022) R J Reed (Appointed 16 January 2022) A Lowe

The Trustees' report was approved by the Board of Trustees.

Rev A Machin Trustee

Date: ..... ! .. i -: . 3 ......... j.J/Z.9.?

page 2

SEAFORD BAPTIST CHURCH

STATEMENT OF TRUSTEES' RESPONSIBILITIES

FOR THE YEAR ENDED 31 DECEMBER 2022

The Trustees are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England and Wales requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that year.

In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping sufficient accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

page 3

SEAFORD BAPTIST CHURCH

INDEPENDENT EXAMINER'S REPORT

TO THE TRUSTEES OF SEAFORD BAPTIST CHURCH

I report to the Trustees on my examination of the financial statements of Seaford Baptist Church (the charity) for the year ended 31 December 2022.

Responsibilities and basis of report

As the Trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act).

I report in respect of my examination of the charity’s financial statements carried out under section 145 of the 2011 Act. In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

Since the charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of ICAEW, which is one of the listed bodies.

Your attention is drawn to the fact that the charity has prepared financial statements in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn.

I understand that this has been done in order for financial statements to provide a true and fair view in accordance with Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.

Darren Harding ACA, FCCA, DChA

Alexandra Durrant 10A-12A High Street East Grinstead West Sussex RH19 3AW

Dated: .........................24/07/2023

page 4

SEAFORD BAPTIST CHURCH

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 DECEMBER 2022

Current financial year
Unrestricted
Restricted
Endowment
funds
funds
funds
2022
2022
2022
Notes
£
£
£
Income and endowments from:
Donations and legacies
3
125,948
20,832
-
Charitable activities
4
28,532
83,326
-
Other trading activities
5
28,931
-
-
Investments
6
63
-
-
Other income
7
133,931
-
-
Total income
317,405
104,158
-
Expenditure on:
Charitable activities
8
186,773
103,287
-
Net incoming/(outgoing) resources before
transfers
130,632
871
-
Gross transfers between funds
(149,984)
4,984
145,000
Net (outgoing)/incoming resources
(19,352)
5,855
145,000
Other recognised gains and losses
Revaluation of tangible fixed assets
-
-
40,000
Net movement in funds
(19,352)
5,855
185,000
Fund balances at 1 January 2022
44,571
53,499
485,000
Fund balances at 31 December 2022
25,219
59,354
670,000		 Total
2022
£
146,780
111,858
28,931
63
133,931
421,563
290,060
131,503
-
131,503
40,000
171,503
583,070
754,573		 Total
2021
£
157,231
85,789
18,269
6
-
261,295
275,588
(14,293)
-
(14,293)
70,000
55,707
527,363
583,070

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

page 5

SEAFORD BAPTIST CHURCH

STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED) INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 DECEMBER 2022

Prior financial year
Unrestricted
Restricted
Endowment
funds
funds
funds
2021
2021
2021
Notes
£
£
£
Income and endowments from:
Donations and legacies
3
112,606
44,625
-
Charitable activities
4
22,450
63,339
-
Other trading activities
5
18,269
-
-
Investments
6
-
6
-
Total income
153,325
107,970
-
Expenditure on:
Charitable activities
8
171,666
103,922
-
Net incoming/(outgoing) resources before transfers
(18,341)
4,048
-
Net (outgoing)/incoming resources
(18,341)
4,048
-
Other recognised gains and losses
Revaluation of tangible fixed assets
-
-
70,000
Net movement in funds
(18,341)
4,048
70,000
Fund balances at 1 January 2021
62,912
49,451
415,000
Fund balances at 31 December 2021
44,571
53,499
485,000		 Total
2021
£
157,231
85,789
18,269
6
261,295
275,588
(14,293)
(14,293)
70,000
55,707
527,363
583,070

page 6

SEAFORD BAPTIST CHURCH

BALANCE SHEET

AS AT 31 DECEMBER 2022

2022
Notes
£
Fixed assets
Tangible assets
14
Current assets
Debtors
15
14,268
Cash at bank and in hand
79,870
94,138
Creditors: amounts falling due within one
year
17
(19,480)
Net current assets
Total assets less current liabilities
Creditors: amounts falling due after more
than one year
18
Net assets
Capital funds
Endowment funds
General endowment funds
630,000
Revaluation reserve
40,000
670,000
Permanent endowment
100,000
Expendable endowment
570,000
19
Income funds
Restricted funds - general
20
Unrestricted funds
Designated funds
21
12,200
General unrestricted funds
13,019
The financial statements were approved by the Trustees on
Rev A Machin
S White
Trustee
Trustee
�
Si!A�{
.....!..ij.J/Z.9?-: . 3 ......		 £
693,971
74,658
768,629
(14,056)
754,573
670,000
59,354
25,219
754,573
...		 2021
£
8,069
65,586
73,655
(8,432)
415,000
70,000
485,000
100,000
385,000
15,250
29,321		 £
517,847
65,223
583,070
-
583,070
485,000
53,499
44,571
583,070

page 7

SEAFORD BAPTIST CHURCH

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

1 Accounting policies

Charity information

Seaford Baptist Church is an unincorporated charity. The principal address is Belgrave Road, Seaford, East Sussex, BN25 2EE.

1.1 Accounting convention

The financial statements have been prepared in accordance with the charity's constitution, the Charities Act 2011 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)". The charity is a Public Benefit Entity as defined by FRS 102.

The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.

The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2 Going concern

At the time of approving the financial statements, the Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives.

Designated funds comprise funds which have been set aside at the discretion of the Trustees for specific purposes. The purposes and uses of the designated funds are set out in the notes to the financial statements.

Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.

1.4 Income

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

page 8

SEAFORD BAPTIST CHURCH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2022

1 Accounting policies

(Continued)

Income resources from grants, where there are performance or service deliverables required by the terms of the grant, such as amounts received by Early Birds Pre-School, are accounted for as the charity receives these payments.

1.5 Expenditure

Liabilities are recognised as resources expended as soon as there is a legal or constructive obligation committing the church to the expenditure. All expenditure is accounted for on an accruals basis and includes irrecoverable VAT.

Church activities expenditure comprises those costs incurred by the church in the delivery of its activities and services for its beneficiaries, including grants payable to institutions and individuals as set out in the Notes. The costs of operating Early Birds Pre-School are disclosed separately in the notes.

Support costs are allocated to charitable activities based on property usage.

1.6 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses, except for freehold land which has been included at historic cost, and two buildings which have been included at revalued amounts, and are not depreciated because they are considered to have a useful life of greater than 50 years and therefore any depreciation charge is considered immaterial. All assets costing more than £1,000 are capitalised.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold land and buildings not depreciated Plant and equipment 25% Fixtures and fittings 10%

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

1.7 Impairment of fixed assets

At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.8 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.9 Financial instruments

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

page 9

SEAFORD BAPTIST CHURCH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022

1 Accounting policies

(Continued)

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

1.10 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.11 Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

The church is an employer participating in a pension scheme known as the Baptist Ministers' Pension Scheme. Baptist Ministers are eligible to join the scheme, which is a multi-employer defined benefit scheme, which is funded and not contracted out of the State scheme. However, it is not possible to identify the assets and liabilities of the scheme which are attributable to the church. The pension scheme is therefore accounted for as a defined contribution scheme. The church contribution is restricted to contributions disclosed in the notes.

2 Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

page 10

SEAFORD BAPTIST CHURCH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2022

3 Donations and legacies

Unrestricted
Restricted
funds
funds
general
2022
2022
£
£
Donations and gifts
121,948
18,432
Grants
4,000
2,400
125,948
20,832
Donations and gifts
Gifts and Offerings
101,907
9,714
Gift aid tax reclaimed
20,041
1,298
Other donations and
legacies
-
7,420
121,948
18,432
Charitable activities
Church
Activities
Early Birds
Preschool
2022
2022
£
£
Performance related
grants
-
83,326
Charitable rental
income
6,000
-
Other income
2,456
20,076
8,456
103,402
Analysis by fund
Unrestricted funds
8,456
20,076
Restricted funds - general
-
83,326
8,456
103,402		 Total
Unrestricted
Restricted
funds
funds
general
2022
2021
2021
£
£
£
140,380
112,606
23,448
6,400
-
21,177
146,780
112,606
44,625
111,621
92,877
17,437
21,339
19,729
3,935
7,420
-
2,076
140,380
112,606
23,448
Total
2022
Church
Activities
Early Birds
Preschool
2021
2021
£
£
£
83,326
-
63,339
6,000
6,000
-
22,532
1,513
14,937
111,858
7,513
78,276
28,532
7,513
14,937
83,326
-
63,339
111,858
7,513
78,276		 Total
2021
£
136,054
21,177
157,231
110,314
23,664
2,076
136,054
Total
2021
£
63,339
6,000
16,450
85,789
22,450
63,339
85,789

4 Charitable activities

page 11

SEAFORD BAPTIST CHURCH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2022

5 Other trading activities
Unrestricted Unrestricted
funds funds
2022 2021
£ £
Letting arrangements 28,931 18,269
6 Investments
Unrestricted Restricted
funds funds
general
2022 2021
£ £
Interest receivable 63 6
7 Other income
Unrestricted Total
funds
2022 2021
£ £
Coastlands bank account 12,900 -
Transfer of Church Hill Lodge 121,031 -
133,931 -

The Coastlands bank account income represents a transfer of the bank balance from Coastlands when they amalgamated with Seaford Baptist Church.

The Transfer of Church Hill Lodge income represents the value of the property less any mortgages outstanding when control of the property was transferred from Coastlands to Seaford Baptist Church.

page 12

SEAFORD BAPTIST CHURCH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2022

8 Charitable activities

Church
Activities
Early Birds
Pre-school
2022
2022
£
£
Staff costs
82,329
88,330
Depreciation and impairment
8,875
-
Travel & subsistence
1,266
19
Training, development &
conferences
2,966
395
Housing
13,973
-
Building running costs
591
271
Building repairs &
maintenance
775
1,411
Printing, postage, stationery &
publications
210
353
Telecoms & computers
853
268
Subscriptions
3,126
593
Toys, equipment &
consumables
2,782
1,620
Food & drink
287
609
Trips & events
-
-
Services & worship
4,588
-
122,621
93,869
Grants payable (see note 9)
16,438
-
Share of support costs (see
note 10)
47,772
6,600
Share of governance costs (see
note 10)
2,760
-
189,591
100,469
Analysis by fund
Unrestricted funds
166,302
20,471
Restricted funds - general
23,289
79,998
189,591
100,469		 Total
2022
Church
Activities
Early Birds
Pre-school
2021
2021
£
£
£
170,659
94,438
73,824
8,875
7,692
-
1,285
867
-
3,361
3,191
45
13,973
15,678
-
862
418
179
2,186
2,353
207
563
133
668
1,121
904
263
3,719
2,427
705
4,402
817
1,081
896
67
494
-
598
-
4,588
4,974
-
216,490
134,557
77,466
16,438
23,684
-
54,372
30,401
6,600
2,760
2,880
-
290,060
191,522
84,066
186,773
156,728
14,938
103,287
34,794
69,128
290,060
191,522
84,066		 Total
2021
£
168,262
7,692
867
3,236
15,678
597
2,560
801
1,167
3,132
1,898
561
598
4,974
212,023
23,684
37,001
2,880
275,588
171,666
103,922
275,588

page 13

SEAFORD BAPTIST CHURCH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2022

9 Grants payable

Church Church
Activities Activities
2022 2021
£ £
Grants to institutions:
Local mission 4,851 3,785
World mission 6,809 7,263
Social action 4,778 4,201
16,438 15,249
Grants to individuals - 8,435
16,438 23,684

10 Support costs

Support costs
Governance
costs
£
£
Staff costs
13,820
-
Loan interest
1,390
-
Building running costs
13,567
-
Building repairs &
maintenance
12,199
-
Printing, postage, stationery
& publications
1,676
-
Telecoms & computers
4,563
-
Subscriptions
889
-
Bank charges
534
-
Professional fees
5,734
-
Independent examination
fees
-
2,760
54,372
2,760
Analysed between
Charitable activities
54,372
2,760		 2022 Support costs
Governance
costs
£
£
£
13,820
13,382
-
1,390
-
-
13,567
11,754
-
12,199
4,924
-
1,676
2,169
-
4,563
3,837
-
889
531
-
534
404
-
5,734
-
-
2,760
-
2,880
57,132
37,001
2,880
57,132
37,001
2,880		 2021
£
13,382
-
11,754
4,924
2,169
3,837
531
404
-
2,880
39,881
39,881

11 Trustees

The Minister was paid a salary of £28,485 (2021: £28,255) and pension of £3,567 (2021: £3,510) for this. In addition he was paid a manse allowance of £12,317 (2021: £12,267) in accordance with the usual practice of providing clergy accommodation.

None of the other Trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.

page 14

SEAFORD BAPTIST CHURCH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2022

11 Trustees

(Continued)

Donations of £23,391 (2021 - £33,179) were received from Trustees during the year.

12 Employees

The average monthly number of employees during the year was:

2022 2021
Number Number
14 14
Employment costs 2022 2021
£ £
Wages and salaries 171,815 167,501
Social security costs 4,865 4,893
Other pension costs 7,799 9,250
184,479 181,644

There were outstanding pension contributions at 31 December 2022 of £295 (2021 - £329).

The deficiency contribution to the Baptist Ministers' Pension Scheme by this church at 31 December 2022 was £16,000(31 December 2021 - £51,000). This is an estimate which this church would have to pay if it were to exit the defined benefit section of the Baptist Pension Scheme by paying its employer debt immediately. Updated figures are provided on a monthly basis.

There were no employees whose annual remuneration was more than £60,000.

13 Taxation

The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxationof Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.

page 15

SEAFORD BAPTIST CHURCH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2022

14
Tangible fixed assets
Freehold land
and buildings
Plant and
equipment
Fixtures and
fittings
£
£
£
Cost or valuation
At 1 January 2022
485,000
30,592
40,500
Additions
145,000
-
-
Revaluation
40,000
-
-
At 31 December 2022
670,000
30,592
40,500
Depreciation and impairment
At 1 January 2022
-
12,996
25,250
Depreciation charged in the year
-
5,825
3,050
At 31 December 2022
-
18,821
28,300
Carrying amount
At 31 December 2022
670,000
11,771
12,200
At 31 December 2021
485,000
17,597
15,250		 Total
£
556,092
145,000
40,000
741,092
38,246
8,875
47,121
693,971
517,847

Land and buildings with a carrying amount of £570,000 were revalued on 14 June 2022 by Kingston Morehen, independent valuers not connected with the charity, on the basis of market value. The valuation conforms to International Valuation Standards and was based on recent market transactions on arm's length terms for similar properties.

At 31 December 2022, had the revalued assets been carried at historic cost less accumulated depreciation and accumulated impairment losses, their carrying amount would have been approximately £58,500 (2021 - £58,500).

15
Debtors
Amounts falling due within one year:
Trade debtors
Prepayments and accrued income		 2022
£
3,937
10,331
14,268		 2021
£
1,034
7,035
8,069

16 Loans and overdrafts

Other loans
Payable within one year
Payable after one year		 2022
£
25,359
11,303
14,056		 2021
£
-
-
-

page 16

SEAFORD BAPTIST CHURCH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2022

17 Creditors: amounts falling due within one year

Borrowings
Other taxation and social security
Trade creditors
Other creditors
Accruals and deferred income
Creditors: amounts falling due after more than one year
Borrowings		 2022
£
11,303
(4)
3,060
307
4,814
19,480
2022
£
14,056		 2021
£
-
2,240
1,884
500
3,808
8,432
2021
£
-

18 Creditors: amounts falling due after more than one year

19 Endowment funds

Endowment funds represent assets which must be held permanently by the charity. Income arising on the endowment funds can be used in accordance with the objects of the charity and is included as unrestricted income. Any capital gains or losses arising on the assets form part of the fund.

Balance at
1 January 2021
Revaluations
gains and losses
Balance at
1 January 2022
£
£
£
Permanent endowments
Church premises
100,000
-
100,000
Expendable endowments
Manse - Chichester Road
315,000
70,000
385,000
Church Hill Lodge
-
-
-
415,000
70,000
485,000		 Transfers
Revaluations
gains and losses
Balance at
31 December
2022
£
£
£
-
-
100,000
-
40,000
425,000
145,000
-
145,000
145,000
40,000
670,000		 Transfers
Revaluations
gains and losses
Balance at
31 December
2022
£
£
£
-
-
100,000
-
40,000
425,000
145,000
-
145,000
145,000
40,000
670,000
670,000

page 17

SEAFORD BAPTIST CHURCH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2022

20 Restricted funds

The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes:

Balance at
1 January 2021
£
Early Birds Pre-school
40,032
Oasis Child
20
Structure for Growth
1,659
Oasis Fellowship
144
Scallywags
479
Heartsease
254
Concert Choir
595
Youth
123
Splash
228
Held
-
Training and Development
5,917
Cabin
-
49,451
Balance at
1 January 2022
£
Early Birds Pre-school
35,835
Oasis Child
20
Structure for Growth
12,672
Oasis Fellowship
231
Scallywags
422
Heartsease
311
Youth
51
Splash
109
Held
-
Training and Development
3,783
Cabin
65
53,499		 Movement in funds
Incoming
resources
Resources
expended
£
£
64,932
(69,129)
-
-
30,855
(19,842)
496
(409)
248
(305)
457
(400)
-
(595)
773
(845)
95
(214)
8
(8)
-
(2,134)
10,106
(10,041)
107,970
(103,922)
Movement in funds
Incoming
resources
Resources
expended
£
£
83,704
(79,998)
-
-
11,263
(13,550)
1,384
(1,386)
779
(260)
1,140
(1,128)
4,052
(3,306)
-
-
65
(20)
-
(2,238)
1,771
(1,401)
104,158
(103,287)		 Transfers
Balance at 31
December 2021
£
£
-
35,835
-
20
-
12,672
-
231
-
422
-
311
-
-
-
51
-
109
-
-
-
3,783
-
65
-
53,499
Transfers
Balance at
31 December
2022
£
£
4,984
44,525
-
20
-
10,385
-
229
-
941
-
323
-
797
-
109
-
45
-
1,545
-
435
4,984
59,354		 Transfers
Balance at 31
December 2021
£
£
-
35,835
-
20
-
12,672
-
231
-
422
-
311
-
-
-
51
-
109
-
-
-
3,783
-
65
-
53,499
Transfers
Balance at
31 December
2022
£
£
4,984
44,525
-
20
-
10,385
-
229
-
941
-
323
-
797
-
109
-
45
-
1,545
-
435
4,984
59,354
59,354

page 18

SEAFORD BAPTIST CHURCH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2022

20 Restricted funds

(Continued)

Early Birds Pre School - Represents funding towards the running of the nursery operated from the church premises.

Oasis Child - Represents funding towards child sponsorship supported by prayer group Oasis Fellowship.

Structure for Growth - Represents funding to cover 2 staff roles: Pastoral Worker and Community Worker.

Oasis Fellowship - Represents voluntary contributions from group participants to cover costs of group meetings.

Scallywags - Represents funds to cover costs of the toddler group.

Heartease - Represents funds to cover costs of the support group.

Youth - Represents funds to cover the running costs of the youth clubs.

Splash - Represents funds to cover costs of the art group.

Held - Represents funds to cover costs of the women's group.

Training & Development - Represents funds to cover the costs staff training.

Cabin - Represents funds to cover the costs of the use of the portacabin premises.

21 Designated funds

The income funds of the charity include the following designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes:

Movement in funds Movement in funds Movement in funds Movement in funds
Balance at Incoming Resources Balance at Incoming Resources Balance at
1 January 2021 resources expended 1 January 2022 resources expended 31 December
2022
£ £ £ £ £ £ £
Fixtures &
fittings 18,300 - (3,050) 15,250 - (3,050) 12,200
Early Birds
Pre-School - 14,937 (14,937) - 20,076 (20,076) -
18,300 14,937 (17,987) 15,250 20,076 (23,126) 12,200

page 19

SEAFORD BAPTIST CHURCH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2022

22
Analysis of net assets between funds
Unrestricted
funds
Restricted
funds
Endowment
funds
2022
2022
2022
£
£
£
Fund balances at 31 December 2022 are represented
by:
Tangible assets
23,971
-
670,000
Current assets/(liabilities)
15,304
59,354
-
Long term liabilities
(14,056)
-
-
25,219
59,354
670,000
Unrestricted
funds
Restricted
funds
Endowment
funds
2021
2021
2021
£
£
£
Fund balances at 31 December 2021 are represented
by:
Tangible assets
32,847
-
485,000
Current assets/(liabilities)
11,724
53,499
-
44,571
53,499
485,000		 Total
2022
£
693,971
74,658
(14,056)
754,573
Total
2021
£
517,847
65,223
583,070

23 Related party transactions

There were no disclosable related party transactions during the year (2021 - none).

page 20