## **Trustees' Annual Report for the period** 

||Period start date|Period start date|||Period end date|Period end date||
|---|---|---|---|---|---|---|---|
|**From**|1st|Jan|2021|**To**|31st|Dec|2021|



## Section A                        Reference and administration details 

## **Charity name** Kidlington Baptist Church 

**Other names charity is known by Registered charity number (if any)** 1132164 **Charity's principal address** High Street Kidlington Oxfordshire **Postcode OX5 2DS** 

## **Names of the charity trustees who manage the charity** 

|1<br>2<br>3<br>4<br>5<br>6<br>7<br>7<br>8<br>9<br>10<br>11<br>12<br>13<br>14<br>15<br>16|**Trustee name**|**Office (if any)**|**Dates acted if not for**<br>**whole year **|**Name of person (or body) entitled**<br>**to appoint trustee (ifany)**|
|---|---|---|---|---|
||Rev P Durrant|Minister and Chair||Special Church Members’<br>Meeting|
||Mr C Robins|Treasurer|Until 19thMay2021|Church Members’ Meeting|
||Mrs J Nobbs|Secretary||Church Members’ Meeting|
||Mr D Evans|Trustee|Until 19thMay2021|Church Members’ Meeting|
||Mrs M Franks|Trustee||Church Members’ Meeting|
||Miss C Tunbridge|Trustee|Until 19thMay2021|Church Members’ Meeting|
||Miss C Tunbridge|Treasurer|From 19thMay2021|Church Members’ Meeting|
||Mrs A Bowler|Trustee||Church Members’ Meeting|
||Mr G Barnett|Trustee|From 19thMay2021|Church Members’ Meeting|
||Mrs A Bodinham|Trustee|From 19thMay2021|Church Members’ Meeting|
||Mrs L Weir|Trustee|Until 19thMay2021|Church Members’ Meeting|
||Mr M Wilton|Trustee||Church Members’ Meeting|
||Mr G Lloyd|Trustee|Until 19thMay2021|Church Members’ Meeting|
||Mr G Guy|Trustee||Church Members’ Meeting|
||Mr TonyBray|Trustee||Church Members’ Meeting|
||Mrs Ruth Newton|Trustee||Church Members’ Meeting|
||Mr J Miller|Trustee|From 19thMay2021|Church Members’ Meeting|



## **Names of the trustees for the charity, if any, (for example, any custodian trustees)** 

**Name Dates acted if not for whole year** 

**TAR** 

October 2022 

1 



## **Names and addresses of advisers (Optional information)** 

|**Names and addresses of advisers (Optional information)**|**Names and addresses of advisers (Optional information)**|**Names and addresses of advisers (Optional information)**|
|---|---|---|
|**Type of adviser**<br>**Name**<br>**Address**|||
|Independent<br>Examiner|Mr Ian Parkinson||
||||
||||
||||



**Name of chief executive or names of senior staff members (Optional information)** 

## **Section B              Structure, governance and management** 

## **Description of the charity’s trusts** 

Constitution of Kidlington Baptist Church. Most recent amendment Type of governing document approved by church members 24 November 2021. (eg. trust deed, constitution) Charitable Unincorporated Association How the charity is constituted (eg. trust, association, company) Elected for a renewable three-year term of office by the Church Members’ Trustee selection methods Meeting.  With the exception of the Minister, a Trustee is only allowed to (eg. appointed by, elected by) serve for a maximum of six years but may be re-elected after a minimum gap of one year. 

- (eg. trust, association, company) 

## **Additional governance issues (Optional information)** 

You **may choose** to include additional information, where relevant, about: 

- policies and procedures adopted for the induction and training of trustees; 

- the charity’s organisational structure and any wider network with which the charity works; 

- relationship with any related parties; 

- trustees’ consideration of major risks and the system and procedures to manage them. 

**TAR** 

October 2022 

2 



**Section C                    Objectives and activities** 

**Summary of the objects of the charity set out in its governing document** 

_The principal purpose of the Church is the advancement of the Christian faith according to the principles of the Baptist denomination.  The Church may also advance education and carry out other charitable purposes in the UK and/or other parts of the world._ 

The Trustees have had regard to the guidance issued by the Charity Commission on public benefit and the advancement of religion for public benefit.  Accordingly the church activities may include, but are not restricted to: 

**Summary of the main activities undertaken for the public benefit in relation to these objects (include within this section the statutory declaration that trustees have had regard to the guidance issued by the Charity Commission on public benefit)** 

- regular public worship, prayer, Bible study, preaching and teaching; 

- • Baptism as defined in the Baptist Union’s Declaration of Principle; 

- • the Communion of the Lord’s Supper, normally observed at least once a month; 

- • evangelism and mission, locally, regionally, nationally and internationally; 

- • the teaching encouragement, welcome and inclusion of young people; 

- • nurture and growth of Christian disciples; 

- • education and training for Christian and community service; 

- • giving and encouraging pastoral care; • supporting and encouraging charitable social action in the UK and abroad; 

- • encouraging relationships with and supporting Baptists and other Christians 

## **Additional details of objectives and activities (Optional information)** 

The church is indebted to the large number of members who carry out an extensive programme of duties in support of the ministry of the church. Without the aid of these volunteers the church could not fulfil its activities or meet its objectives. 

You **may choose** to include further statements, where relevant, about: 

- policy on grantmaking; 

- policy programme related investment; 

- contribution made by volunteers. 

**TAR** 

October 2022 

3 



Section D                      Achievements and performance 

**Summary of the main achievements of the charity during the year** 

The church, in fulfilling our purposes as a charity, has sought to deliver the objectives that are for the public good.  The task of being a Christian Church has been fulfilled through regular, open worship sessions to which the public are always invited.  Baptisms and Communion have been celebrated, the ongoing work with children and young people has continued in what is clearly a multi-ethnic congregation and community.  In no way are these efforts confined to the already believing community. The year 2021 started with the country still operating under covid restrictions and regular activities were still suspended or switched to use online platforms. The church services were livestreamed weekly, and zoom was used to connect for meetings. As restrictions eased, smaller ticketed services resumed, with the livestream continuing. The Covid regulations allowed the Food Bank to continue, and they experienced a continuing and  increased need in the local community. The church was able to accommodate the additional workload by allowing more space for food storage and distribution. A dedicated email address continued to be  advertised for people to request help, or give offers of help, for those who were isolated, shielding or in any form of need. As the year progressed the use of the premises was able to resume as a focus for the community, with some tenants returning to in-person meetings and the church was able to restart or launch new community initiatives. September saw a major step forward with activities; all the youth groups were back to full capacity and the Little Fishes toddler group restarted after an 18 month pause.  Our youth worker was able to run the clubs in our premises and was able to have access to the local secondary school again. In 2020 the church committed to a five-year vision plan in which they would focus on three specific areas which would impact the local community: 1. Evangelism: Sowing God’s Word (sharing God’s love with those who live alongside us). 2. Social action: Sharing God’s Peace (with the exploration of setting up a community café or hub). 3. Ecology: Safeguarding God’s Creation (working with others towards a greener Kidlington and safeguard the planet). As a result of this, the Dovecote Café was launched in September 2021, which operates twice a week and focusses on being a safe place where it is ‘ok not to be ok’. Its primary focus is to support people who may have mental health needs. The church also committed to work with other local organisations with regards to their ‘ecological footprint’. In May 2021 the church gained the Bronze Eco-Church Award through _A Roche_ , and in October was a contributory partner in the Kidlington Eco Festival _._ The Eco-Church award focuses on worship and teaching, management of church buildings, management of church land, community and global engagement, and lifestyle. The country has been through difficult and unprecedented times, and feedback from the community suggests that without the existence of the Church the wider community would be severely lacking in both resources and community spirit. 

**TAR** 

October 2022 

4 



## **Section E                    Financial review** 

Our policy is reviewed regularly; the current policy is to maintain a **Brief statement of the** General Reserve equal to at least 15% of overall general expenditure. **charity’s policy on reserves** For the Financial Year ending 31 December 2021, the church had higher reserves than usual. This was intentional, as a means of managing the uncertainty going in to 2022 in the face of Covid and also mindful of the rising cost of utilities and inflation.. **Details of any funds materially** There are no funds materially in deficit. **in deficit** 

## **Further financial review details (Optional information)** 

You **may choose** to include additional information, where relevant about: 

- the charity’s principal sources of funds (including any fundraising); 

- how expenditure has supported the key objectives of the charity; 

The Charity’s principal source of funding is the regular giving of the members through offerings. This remained stable through the year, despite Covid. 

In the autumn a contactless payment system was successfully introduced for receiving donations, particularly those that are one-off, alongside existing means (cash, cheque, bank transfer). 

During the year the charity undertook an agreed change to The Cooperative Bank as main banking provider. This choice by the members was because The Co-operative Bank has clear ethical policies. 

- investment policy and objectives including any ethical investment policy adopted. 

## **Section F                     Other optional information** 

Only one Trustee, namely the Minister, is in receipt of emoluments, including pension contributions, in total amounting to £39,752.27. In addition, housing owned wholly by the Church is provided for the fulfilment of his duties. 

## **Section G                    Declaration** 

**The trustees declare that they have approved the trustees’ report above.** 

**Signed on behalf of the charity’s trustees** 

|**Signature(s)**<br>**Full name(s)**Jacqueline Mary Nobbs<br>Clare Katherine Tunbridge<br>**Position (eg Secretary,**<br>**Chair, etc)**<br>Secretary<br>Treasurer<br>**Date**24October 2022||||
|---|---|---|---|
||Jacqueline Mary Nobbs||Clare Katherine Tunbridge|
||Secretary||Treasurer|
|||24October 2022||
|||24October 2022||



**TAR** 

October 2022 

5 




## **Kidlington Baptist Church** 

**UK Registered Charity number 1132164** 

## **Financial Statements For the year ended 31 December 2021** 

Kidlington Baptist Church – Accounts for the year ended 31.12.21 

1 



## **Kidlington Baptist Church** 

## **Income and expenditure account for the year ended 31 December 2021** 

|<br>**Income:**<br>Offerings<br>Inland Revenue tax claim<br>Furlough<br>Interest<br>Lettings<br>Other<br>**Total Income**<br>**Expenditure:**<br>Employment costs<br>Minister<br>Manse<br>Youth Work<br>Lettings<br>Administration<br>Church Premises<br>General expenses<br>Activities, Outreach and grants<br>Home Mission Fund<br>Baptist Missionary Society<br>10% Fund<br>Other grants<br>**Total Expenditure**<br>**Net of income/(expenditure)**<br>**Funds at 31 December 2020**<br>Transfers<br>**Funds at 31 December 2021**|**year to**<br>**31 Dec 2021**<br>**General**<br>**Funds**<br>**£**<br>**year to**<br>**31 Dec 2021**<br>**Designated**<br>**Funds**<br>**£**<br>**year to**<br>**31 Dec 2021**<br>**Restricted**<br>**Fund**<br>**£**<br>**year to**<br>**31 Dec 2021**<br>**Restricted**<br>**Capital Fund**<br>**£**<br>**year to**<br>**31 Dec 2021**<br>**Total**<br>**Funds**<br>**£**<br>**year to**<br>**31 Dec 2020**<br>**Total**<br>**Funds**<br>**£**|
|---|---|
||**109,221**<br>**109,221**<br>**105,471**<br>**26,634**<br>**965**<br>**27,599**<br>**22,815**<br>**6,185**<br>**6,185**<br>**0**1<br>**14**<br>**14**<br>**76**<br>**4,485**<br>**4,485**<br>**7,854**<br>**266**<br>**701**<br>**4,117**<br>**5,084**<br>**5,966**|
||**140,620**<br>**701**<br>**11,267**<br>**0**<br>**152,588**<br>**142,181**|
||**75,289**<br>**6,185**<br>**81,474**<br>**76,723**<br>**801**<br>**801**<br>**561**<br>**5,084**<br>**5,084**<br>**5,209**<br>**1,185**<br>**2,185**<br>**3,370**<br>**1,920**<br>**6,034**<br>**6,034**<br>**11,609**<br>**2,723**<br>**2,723**<br>**1,917**<br>**11,361**<br>**11,361**<br>**9,775**<br>**3,348**<br>**3,348**<br>**3,525**<br>**1,633**<br>**2,767**<br>**4,951**<br>**9,351**<br>**4,310**<br>**7,200**<br>**7,200**<br>**7,050**<br>**7,500**<br>**7,500**<br>**7,350**<br>**13,793**<br>**13,793**<br>**9,743**<br>**250 **<br>**250 **<br>**0**|
||**122,406**<br>**16,560**<br>**13,321**<br>**0**<br>**152,287**<br>**139,693**|
||**18,214**<br>**(15,859)**<br>**(2,054)**<br>**0**<br>**301**<br>**2,488**<br>**35,634**<br>**5,481**<br>**9,557**<br>**691,570**<br>**742,242**<br>**739,754**<br>**(13,968)**<br>**13,975**<br>**(7)**<br>**0**<br>**0**<br>**39,880**<br>**3,597**<br>**7,489**<br>**691,570**<br>**742,543**<br>**742,242 **|



> 1 _For 2020 furlough scheme income was £3,395 but was presented within net Employments Costs. See page 6._ 

Kidlington Baptist Church – Accounts for the year ended 31.12.21 



## **Kidlington Baptist Church Balance Sheet as at 31 December 2021** 

|**Notes**<br>**Fixed Tangible Assets**<br>**1**<br>**Current Assets**<br>Cash at bank and in hand<br>Debtors<br>**Current Liabilities**<br>Creditors<br>**Total Current Assets**<br>**Total Net Assets**<br>**2**<br>**The funds of the charity**<br>Unrestricted income funds<br>General<br>Designated<br>Restricted income Funds<br>Capital asset reserve<br>Other restricted<br>**Total charity funds**<br>**2**|**2021**<br>**2020**<br>**Total Funds**<br>**Total Funds**<br>**£**<br>**£**<br>**691,570 **<br>**691,570 **|
|---|---|
||**691,570 **<br>**691,570 **|
||**38,374**<br>**52,318**<br>**15,479**<br>**903**<br>**(2,880)**<br>**(2,549)**|
||**50,973**<br>**50,672 **|
||**742,543**<br>**742,242**|
||**39,880**<br>**35,634**<br>**3,597**<br>**5,481**<br>**691,570**<br>**691,570**<br>**7,496 **<br>**9,557**<br>**742,543**<br>**742,242 **|



Approved by the Trustees on 25 May 2022 and signed on its behalf by: 

## **Clare Tunbridge (Treasurer)** 

Kidlington Baptist Church – Accounts for the year ended 31.12.21 

3 



## **Notes forming part of the Financial Statements for the year ended 31 December 2021** 

## **1. Fixed Tangible Assets** 

|Church site and buildings<br>Manse<br>**Total Fixed Tangible Assets**|**2021**<br>**£**<br>**2020**<br>**£**<br>**566,570**<br>**566,570**<br>**125,000**<br>**125,000**<br>**691,570**<br>**691,570**|
|---|---|



The church site and buildings are valued at the cost of refurbishment in 2011. The manse is valued at the historic rebuild cost provided by the insurers. 

## **2. Analysis of Charitable Funds** 

|**2. Analysis of Charitable Funds**||
|---|---|
|**Unrestricted funds**<br>General funds<br>Designated funds<br>Oasis<br>Little Fishes<br>Junior Church for Compassion<br>Dovecote<br>10% fund<br>Confidential Fund<br>Total Designated<br>**Total Unrestricted**<br>**Restricted funds**<br>Capital Asset Reserve<br>Restricted grants<br>**Total Restricted**<br>**Total funds**|**At 1 Jan 2021**<br>**Incoming**<br>**Resources**<br>**Transfers**<br>**Outgoing**<br>**Resources**<br>**At 31 Dec**<br>**2021**<br>**£**<br>**£**<br>**£**<br>**£**<br>**£**|
||**35,634**<br>**140,620**<br>**(13,968)**<br>**(122,406)**<br>**39,880**<br>**681**<br>**0**<br>**(681)**<br>**0**<br>**0**<br>**431**<br>**42**<br>**0**<br>**(431)**<br>**42**<br>**0**<br>**506**<br>**0**<br>**(336)**<br>**170**<br>**0**<br>**153**<br>**681**<br>**0**<br>**834**<br>**3,185**<br>**0**<br>**12,775**<br>**(13,793)**<br>**2,167**<br>**1,184**<br>**0**<br>**1,200**<br>**(2,000)**<br>**384**|
||**5,481**<br>**701**<br>**13,975**<br>**(16,560)**<br>**3,597**|
||**41,115**<br>**141,321**<br>**7**<br>**(138,966)**<br>**43,477**|
|||
||**691,570**<br>**0**<br>**0**<br>**0**<br>**691,570**<br>**9,557**<br>**11,267**<br>**(7)**<br>**(13,321)**<br>**7,496**|
||**701,127**<br>**11,267**<br>**(7)**<br>**(13,321)**<br>**699,066**|
||**742,242**<br>**152,588**<br>**0**<br>**(152,287)**<br>**742,543**|



General funds of £39,880 represent 33% or 4.0 months of general expenditure which is above the charity’s reserves policy. 

Kidlington Baptist Church – Accounts for the year ended 31.12.21 

4 



## **3. Analysis of Charitable Funds continued** 

Restricted grants can be further analysed as follows: 

|**10% reserve**<br>**Youth Projects/Soul Survivor**<br>**Little Fishes**<br>**Gift Day – share for Vision**<br>**enabling**<br>**Office Air Conditioning**<br>**Worship Group Fund**<br>**Homeless Oxon**<br>**Men's Group**<br>**Anniversary  - Gatehouse**<br>**Ambulance gardening**<br>**Nepal (P Ewart)**<br>**Marathon Challenge**<br>**Youth weekend away**<br>**Youth social event**<br>**Embrace Middle East**<br>**Asylum Welcome**<br>**Christian Aid**<br>**Potters Village/Jenny Green**<br>**Tearfund/Toilet Twinning**<br>**Syrian Refugee project**<br>**Sailors Society**<br>**Josef Kovacs**<br>**Furlough funds**|**At 1 Jan**<br>**2021**<br>**£**<br>**Incoming**<br>**Resources**<br>**£**<br>**Outgoing**<br>**Resources**<br>**£**<br>**Transfers**<br>**At 31 Dec**<br>**2021**<br>**£**|
|---|---|
||**3,999**<br>**(770)**<br>**3,229**<br>**1,409**<br>**1,409**<br>**0**<br>**625**<br>**625**<br>**858**<br>**500**<br>**(851)**<br>**507**<br>**500**<br>**500**<br>**484**<br>**484**<br>**700**<br>**312**<br>**(810)**<br>**202**<br>**91**<br>**91**<br>**0**<br>**696**<br>**(606)**<br>**90**<br>**0**<br>**438**<br>**(348)**<br>**90**<br>**70**<br>**70**<br>**0**<br>**137**<br>**(90)**<br>**47**<br>**0**<br>**1,853**<br>**(1,808)**<br>**45**<br>**0**<br>**409**<br>**(377)**<br>**32**<br>**30**<br>**30**<br>**5**<br>**112**<br>**(89)**<br>**28**<br>**17**<br>**17**<br>**110**<br>**(110)**<br>**0**<br>**237**<br>**(237)**<br>**0**<br>**3**<br>**(3)**<br>**0**<br>**4**<br>**(4)**<br>**0**<br>**1,040**<br>**(1,040)**<br>**0**<br>**0**<br>**6,185**<br>**(6,185)**<br>**0**|
||**9,557**<br>**11,267**<br>**(13,321)**<br>**(7)**<br>**7,496**|



Kidlington Baptist Church – Accounts for the year ended 31.12.21 

5 



## **4. Detailed expenditure account (unrestricted funds)** 

|||**2021**|||**2020**||
|---|---|---|---|---|---|---|
||£||£|£||£|
|**Employment Costs**2|||||||
|Minister|39,753|||39,219|||
|Youth Worker|28,572|||28,875|||
|Administrator|10,050|||9,804|||
|Cleaners|3,099|||2,219|||
|Less furlough payments received|(6,185)|||(3,395)|||
||||75,289|||76,723|
|**Minister**|||||||
|Other minister funds|801|||561|||
||||801|||561|
|**Manse**|||||||
|Maintenance|0|||199|||
|Council Tax and Water|3,298|||3,186|||
|Heating & Lighting|1,366|||1,424|||
|Insurance|420|||399|||
||||5,084|||5,209|
|**Youth Work**|||||||
|Youth Activities|580|||1,051|||
|Friday Clubs|605|||870|||
||||1,185|||1,920|
|**Lettings3**|||||||
|Administrator|4,095|||4,248|||
|Heating & Lighting|288|||1,673|||
|Cleaning|168|||1,026|||
|Repairs & Maintenance|128|||2,021|||
|Insurance|1,078|||1,076|||
|Other|277|||1,565|||
||||6,034|||11,609|
|**Administration**|||||||
|Fees & Subscriptions|1,287|||1,471|||
|Other|1,434|||446|||
||||2,721|||1,917|
|**Church premises**|||||||
|Heating & Lighting|3,053|||2,505|||
|Cleaning|2,486|||526|||
|Repairs & Maintenance|2,255|||3,553|||
|Insurance|1,078|||1,076|||
|Other|2,489|||2,115|||
||||11,361|||9,775|
|**General expenses**|||||||
|Catering|292|||208|||
|Visiting preachers|593|||282|||
|Publicity & Literature|232|||347|||
|Other|2,231|||2,688|||
||||3,348|||3,525|



> 2 _YW apparent reduction in 2021  due to difference in  allocation of NI Employers Allowance across roles, compared to 2020._ 

> 3 _Pre-Covid,66%s of Church Premises costs and Administrator’s salary were allocated against Lettings; during lockdown this fell to zero; when lettings resumed in the autumn costs were split 50-50 in 2020 and 80:20 in 2021 (church premises: lettings). Insurance is split 50:50._ 

Kidlington Baptist Church – Accounts for the year ended 31.12.21 

6 



|**4. Detailed expenditure account (cont.)**|**2021**||**2020**|||
|---|---|---|---|---|---|
||£|£||£|£|
|**Activities, Outreach and Grants**||||||
|Outreach events|307|||235||
|Junior Church|501|||719||
|Churches Together in Kidlington|0|||200||
|Training|825|||110||
|||1,633|||1,265|
|**Home Mission Fund**||7,200|||7,050|
|**Baptist Missionary Society**||7,500|||7,350|
|**Other grants**||250|||0|
|**Total Unrestricted Expenditure**||**122,406**|||**126,904**|
|**Designated expenditure**||**16,560**|||**10,842**|
|**Restricted grants**||**13,321**|||**1,947**|
|**Total Restricted and Designated**||||||
|**Expenditure**||**29,881**|||**12,788**|
|**Total expenditure**||**152,287**|||**139,693**|
|**5. 10% Fund**||||||
||**2021**||**2020**|||
||£|£||£|£|
|A Rocha|125|||125||
|Christians in Science|500|||500||
|IFES (Naomi Dawson)|3,000|||3,000||
|Isabel Powell|420|||105||
|Jenny Green|560|||840||
|Józef Kovacs|500|||400||
|Link to Hope|300|||300||
|Potters Village|890|||1,400||
|The Porch|1,100|||500||
|Verité Sport|1,773|||1,773||
|Asylum Welcome|1,005|||0||
|CBM|500|||0||
|Harding College|500|||0||
|Mid Wessex Camps|500|||0||
|Regents Park Covid Hardship funds|500|||0||
|Renew Wellbeing|500|||0||
|Tearfund|620|||0||
|Wycliffe|500|||0||
|Bicester Christian Action|0|||100||
|Judkins|0|||200||
|Witney New Life Church|0|||500||
|**Total 10% Fund**||**13,793**|||**9,743**|



Kidlington Baptist Church – Accounts for the year ended 31.12.21 

7 




## _Pensions note for accounts – for employers participating in BPS only_ 

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 and some members of the church staff are eligible to join the Scheme. 

Since January 2012, pension provision has been 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.  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 2019 by a professionally qualified Actuary using the Projected Unit Method.  The market value of the DB Plan assets at the valuation date was £298million. 

The valuation of the DB Plan revealed a deficit of assets compared with the value of liabilities of £18 million (equivalent to a past service funding level of 94%).  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.  The Trustee and the Council agreed a 50% reduction for all deficiency contributions payable between 1 July 2020 to 31 December 2020. 

In addition, the Baptist Union of Great Britain agreed to contribute a lump sum of £0.5m by 31 December 2020.  The current Recovery Plan dated 30 September 2020 envisages deficiency contributions continuing until 30 June 2026.The key financial assumptions underlying the valuation were as follows 

|**Type of assumption**|**% pa**|
|---|---|
|RPI price inflation assumption|3.20|
|CPI price inflation assumption|2.70|
|Minimum Pensionable Income increases (CPI plus 0.75% pa)|3.20|
|Assumed investment returns||
|- Pre-retirement|2.95|
|- Post retirement|1.70|
|Deferred pension increases||
|- Pre April 2009|3.20|
|- Post April 2009|2.50|
|Pension increases|2.70|



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 £12,064 (2020 £15,102). 

The next actuarial valuation of the DB Plan within the Scheme is due as at 31 December 2022. 

Kidlington Baptist Church – Accounts for the year ended 31.12.21 

8 



Independent examiners report on Kidlington Baptist Church income
statement 31" December 2021
To the members of Kidlington Baptist Church
Following my review of the annual report for the above year. gives a true and fair view of
the finances of the organisation
lan Parkinson
FCA 7967032
Date 20 October 2022