Annual Report 2022 Contents Trustees 'Re ort for Year EndinA31" December Introduction Name, reListered office and constitution ofthe chari O_b ectives and activitses o! the charity A summa of the ob ects of thechari -aS set out in rts governing document Summa .of the main activities of the chari Achievements 3nd erformance of the chari Summa of the main achievements andJ)erfomance of the char Public benefit that IS rovided b the char in relation to its ob ects durin ear Structure &overnance and mana ement of the char Financial review Related Parties and trnnsactions with related arties The members of the Board of Trustees of the charity at the date the re and accounts proved were a were.. Independent Examiner's Reort to the Trustees of Cemetery Road Ba tist Church Finance Re ort for Year EndIn_ 31 December statement of Financial activities for the ear ended 31 December Balance Sheet as at 31 December Notes to the Accounts
st Trustees 'Report for Year Ending 31 December 2022 . Introduction TheTrustees are pleased to presenttheir reportand accountsforthe year ended 31st December 2022. The financial ststements comply with current statutory requirements, the Statement of Recommended Practice-Accounts"ng and Reporting by Charities Irevised 25). Name, registered office and constitution of the charity The full and only name of the charity is Cernetery Road Baptist Church. The legal registration details are: Date offormation 1839 The Principal Office is 11, Napierstreet, Sheffield Sll 8HA Charity Registration Number 1132964 The telephone numberis 0114 272 2179 Cemetery Road Baptist Church {the Church) was fomied a5 an unincorporated charity in 1839. It was excepted from registration with the Charity Commission under 5ertion 3151 Ibl of the Charities Act 1993. This exception was withdrawn when the Charities Act 2(NJ6 came into forte. During 2009 the Church adopted a new Constitution Ibased on the model provided by the Baptist Union of Great Britainl and applied to the Charity Commission to register. This application was accepted on 25th November 2009. Objectives and artivities of the charity A summary of the objects of the charity as set out in its govemlng docurnent The objectives of the Church are Set out in the constituts.on (adopted on 8th September 20091. as follows-. Yhe 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 educaty.on and carry out other charitable purposes in the United Kingdom and/or other parts of the world.. The new constitution also states that the activities of the Church may include, but are not restricted to- regular publi¢ worship. prayer, Bible study. preaching and teaching. baptism, as defined in the Union's Declaration of Principle- Holy Communion. which will usually be 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 artion in the Untted Kingdom and abroad: encouraging relationships wrth and supporting Baptists and other Christians.
Summary of the main artivities of the charity in latiOn to its objerts Church's services are held at least once a week and are open to rnember5 of the community- Holy Communion is usually observed once a month and baptismal services are held as appropriate. Each service inclutles prayers of intercession and in 2014. we installed a Ix)st box outside the Church for prayer requests from the local community. Every Sunday during the church service we offer activities for children and young people from O to 18 vears of age. We offer a warm, welcoming and multicultural Junior Church. with a well-resourced crèche for the little ones and groups offering snacks and age appropriate crafts, games, bible learning and discussion for the older children and young people. The work of the Church involves outreach projects which are planned to honour our commitment to serve God through caring for those in need and. when appropriate. to share the Gospel and introduce the Christian faith. Examples of this inclu(le= The Munch Club, participation in community events such as the Sharrow Festival and the Lantern Festival. We have also recentty been glad to welcome a meal making group who turn donated food from local shops into ready meals to begiven to those who need them. They prepare and store these in the church fitchen and deliver them from there. Within the fellowship of the church we encourage people to belong to one of several smaller gyoups, called Fellowship Groups. This enables closerfriendships and fellowship to tske place. Approximately 2Ck30 people belong to one of 2-3 Fellowship groups that meet tr4ice a month acr055 the city. The meetings usually involve a bible study or tOP4cal discussion (wth reference to the Bible), a tt"mÈ of sharing and a tr.me of prayer. During l¢xkdown we continued to run Sunday services by Zoom. An enterprising member started a highly successful "Click and Connecf group on Thursday mornings which has now become a home study group, in addition to the horne groups which are now able to meet again Financially the Church relies on collections and donations from its members and others to support these activities. as detsiled in the accounts. We also hold a number of special collections or appeals throughout the year to raise money for fduses that the Church particularly wishes to support. Traditionally, the Church also holds an appeal each year at the time of the Church Anniversary. A number of members have chosen to give by standing order duri the time we have been closed and this continues now we are open again. It must be noted that our outreach projects were mainly closed during 2021 due to the pandemic however we have been able to rnake contact with those local projects which are back up and running. We took part in Meadowfest, a small community event organised by the Local Residents. Association in the summer of 2022. We will be parkncipating in the 5harrow Festival in July. Summary of the main ach*vement5 and perforrnan of the charlty duringthe year Mintstry Review The church re-opened for sunday worship in early summer 2021. initially with limited numbers attending in keeping with COVID guidelines at the time. Our temporary minister. AndyWes¢ came to the end this time with us in October 2021. Thereafter the church was run by the trustees and a group of very willing volunteers. This induded several guest speakers who gave sermons at Sunday services. Volunteers have continued to lead the
Iranian fellowship (see below} as well as the Tuesday Munth club, a Zoom Bible study and home groups. We have been supported in runningthe church in the meanwhile by the Yorkshire Baptist Assoaation who have prowded guidance and practical help In June 2022 we had an expression of Interest from Revd Andrew Ginn. the then minister at Bunyan Baptist Church in Stevenage. After several visits and much prayer we were very glad to call him as our minister in November 2022 and he stsrted with us in February 2023. His ministry will make a huge difference to our churth. Church GroW(h Congolese Fellowship In March 2014, two families of Congolese refugees started worshipping with us on a Sunday and asked if they could use one of our r¢Joms for a prayer meeting on a Sunday afternoon. They were keen to meet and be able to praise God and pray in their native tongue, Swahili. We agreed. "ttle did we know at the time how it would snowball. The group rapidly grew. with many Congolese families joining the Fellowship on a Sunday momin& and the Praise and prayer meeting5 have become a regular feature of life at Cemetery Road Baptist Church, filling the Church with African music on a Sunday. This has now grown into Cross Cultural work to meet the needs of an ever more diverse grotjp originating from Africa. The Congolese fellowship has continued to thrive sin re-opening the church. We have good links between the main church and the Congolese fellowship. One of the Congolese fellowship is one of the church trustees, Dative Gakuba, who provides excellent support and helps us to interact acr05S the language barrier. The Congolese choir often sing at the main service and we are arranging communion services across both communitses. Iranian and Kurdish Fellowship The Iranian fellowship has become rather reduced in numbers following lockdown and the subsequent re-opening. They continue to meet on Thursday evenings under the leadership of Peter Shepherd, a church member, and of Roo Mahmid, an ex member who is Iranian. They have a regular group of approximatelv members. mostly in Pe0 but SOFne via ZTh)m. Junior Church and Youth Work The number of children attending the church has been rather reduced as nurnbers of attendees has remained lower than prior to lockdown. We do still have a 5igntficant number and the youth leaders are still running classes every Sunday to accommodate juniors of all ages from creche up to 18. Over the last months several of the children have been involved in the project to design new windows for the church hall.
Outreach The Munch Club has resumed on Tuesday mornings lead by a group of church members and has proved as popular as ever. There are approximately 25 regular attenders for lunch and a short talk. One member has started to attend the Sunday Service and has become a very much appreciated °doorman". July 2022 saw our first outreach event as we took part in Meadowfest, a community event organised by the local Residents. Association. in the flower meadow opposite the church. We were pleased to provide hot and cold drinks while other groups provided fo)d. gave classes in making paper lanterns and were shown round a fire engine. We have also provided a workplace for the rnakers of lantems for the annual Lantern Festival in November. The church involvement in the Lansdowne Community Project and Heritage Open Days has resumed th plans to participate in wider projects in 2023 Pastoral Care The Visitation Committee has kept in touch with Trrdrious church mernbers who have been unable to attend, for various reasons. The Zoom serwces and subsequent streamed services have been well received by those members unable to attend church in person. We have continued to be in touch wtth all our mernbers and offer prayers and practical help for all those in need, including ¢ookin& transport and other help as required. CRBC social medla Since the church re-opened in 2021 the Sunday services have been streamed live (luring the service and are available afterwards for members to watch when they can. This has been very helpful for those members who have difficulty in attending in person and has been verywell received by manv people. We have a church WhatsApp group which has been very useful foi keeping in touch. The church also has a website which is under regular review and on whith detsils of services etc can be found. This has been updated as we have been updating our whole system to meet our more up to date demands. Property PAG, the Property Advisory Group, have continued to look after the buildings throughout the year. They have an ambitious plan for the refurbishing of the hall which included replacing its many windows with etched glass. This projert is conb"nuing into 2022 with excellent progress. The hall is
used by a number of local groups induding a choir as well as by church groups such as the Iranian fellowship. The refijrbishment of the ents.re entrance and hallway is well under Wdy. PAG have also reviewed the small caretskerfs house adjacent to the main church which has been used as a residence throughout. The church has alrnost completed the purchase of a new manse using the existing funds from the sale of the previous building. Supporting Other Organisations HMF and BMS. The church has resumed tts financial support for these organisations within the Baptist Union. Local Foodbank. The church has made donations to the local food bank including items from our Harvest Festival service street Pastors. Several church members continue to tske part in this valuable organi5ation on the streets of Sheffield. This requires them to be on the streets offering comfort and support as required overnight. Future Plans We stsrted 2022 with new officers (secretsry. treasurer and assistants as well as 7 new trustees). In the absence of a minister at the start of the year, we appointed a moderator to guide us into the next stage in our churth life. We are so grateful to John Claydon, a retired minister. who supported and guided us in the practical issues of running a church as well as his prayers and encouragement The appointing of our new minister means we will now be saying goodbye to John but remain in his debt for all he gave us. The Property Advisory Group is making progress with the plans to refurbish the building and replace the windows in the hall. The Caretakerfs House requires some work on the bathroom and also the kitchen. We plan to do this in 2023. Several external groups are back in our building at various times in the week for artivities as diverse as support groups, munch dub and other church groups who worship in our building. Public benefrt that is provided by the charity. The objectives of the Church and the public nature of the actimties carried out to fulfil them, coupled with the open and free invitstion to members of the public to participate in them, means they are accepted by the Charity Commission as giving rise to a public benefit. So, by working to meet our objectives, we are delivering a recognised public benefit. The trustees confirm that they have paid due regard to the guidance provided by the Charty Commission on public benefit in planning and managing these activities during the year.
Strurturel governance and management of the charity Nature of the Goveming D0MeTht and c0Tr5tltutlon ofthe tharity The Church is a member of the Baptist Union of Great Britain IBUI and the Yorkshire 8apti5t Association IYBAI. Thechurch's current constitution was adopted on 8, September 2009, it wa5 based on the model for Baptist Churche5 agreed with the Charity Commission by the BU. This constitution recognises the authorrty of the "property trnsts" created by the original Trust Deed dated 30 De¢ember 1860. These goveming duMents impose no specific restrictÉons on the Church's activities. or on its investment powers, other than those imposed by general chartty law. The model constitution for Baptist Churches made provision at various points for local practice to be adopted. Our 'local practices, are d(xumented in our stsnding orders, which were approved by the Church meeting on 8th November 2011. Important features of our constitution are that all matters are subject to prayer and God's direction, and so decisions are made or rats.fied at the monthty meetings of Church members. All appointments are made by the members at these meetings. and they also have the power to terminate such appointments. The appointed ministers of the Church retain oversight of all spiritual matters but are answerable to the Church meeting through the Deacons. Two key responsibilities of the managing trustees are to draw up an annual budget for each financial year, and to identify the major risks to which the charity is exposed when preparing or updating anv strategic plans. During 2014 the Finance Admsory Group stood down and wa5 replaced by the Finance Sub-Group of Deacons la former member of the Finance Advisory Group wa5 invited to join thi5 group as welll. The Church is satisfied thatthe systems are in place to mitigatetheir exposure to those major risks which have been so identified and reviewed. The method5 adopted for the recrnltment and appointment of new trustees. The constitution allows up to e1ve members to be appointed as Deacons. Each such appointment requires approval by a majority of Church members. The Charity's Managing Trustees are both the Deacons and the Ministerls). The Managing Trustees meet regularly to discuss and plan objectives and the implementation of them. The induction and training of new trustees is overseen by the Minister and longstanding deacons, drawing vthere appropriate on resources made available by the BU and YBA. The Church's custodian trustees are the YBA. v*hich is an incorporated body. Financial review Transactions and financial position The Statement of Financial Activities shows that during 2022 there was an overall net surplus, after deduction of restricted incorne Igrantsl, of £31835 represented largely by the net savings generated through staff savings made at the end of 2021. Income remained consistent with 2021, but expenditure on general running expenses Wd5 much reduced, as a result of a smaller staff team. The church continues to rise to the challenge of finding sufficient funds to carry out the declared aim5 and objectives of the charity. 2022 saw the church beginning to get to grips with life after the COVID pandemic, and with the aid of Yorkshire Baptist AssLKiation and the Baptist Union of Great Britain, we were able to contentrate on calling a new minister to lead us.
The total reserves at the year end, after accounting for unrealised losses and after revaluing investments. stands at £2406614 compared with £2312015 at the end of 2021. Of these figures £1784342 represents the estimated value of the church buildings. including the Caretakers Cottage at 11 Napier Street Sheffield. Financial performance and achievements The performance of the church in terms of maintsining its ongoing vk and developing its activities have already been described. In spirttual terms and in temis of delivering public benefit they represent a huge and vital part of the work of the church, though in financial terms many of them only account for relatively small sums. By contrast, much larger sums must be spent on running and maintaining the church buildings, to promde the base where these activities can take place and also the provision of staff to ensure that the charities aims and objectives are met. The church has again been blessed with excellent loyal and faithful financial support of our members, and on removing restrirted grant income. it can be seen that almost every head of income 15 improved on 2021. As the Marity of our income is a mixture of planned giving, donations and legacies, a huge thank you is due to our members. In addition to making savings as a result of reduced stsffing levels towards the end 2021, some of our costs increased durFng the year. such as our utilities and insurance. and we were able to carry out essential repairs and maintenance to the Caretakers Cottage at 11 Napier Street Sheffield. We were also able to support the work of Baptist World Mission and the Home Mission Fund, which we had been unable to do in 2021. The church wll Continue to seek further grant income where appropriate, and accept the challenge of finding more financial support to ensure that our outreach and mission work can continue. Related Parties and transartions with related parties A5 detailed in the notes to the accounts. the church holds a special exemption granted by the Charity Commission to employ a trustee's spouse as Office Administrdtor. Mrs Jenny Cowling retired at the end of lune 2014. The members of the Board of Trustees of the charity at the date the report and accounts were approved were". Minister.. Secretary: Treasurer- Rev Andrew Ginn Miss Lois McGrath Mr David Timrns Deacon5: Mr. Niall Finn, Mrs 0101a McKenzie, Mr. Paul Riley. Dr. Tony Cowlin& Mr. David fimms, Miss Lois McGrath, Mrs Yvonne fimms and Miss Dative Mukamusoni. Trustees, responsibilities statement - unincorporated charity The trustees are responsible for preparing the TTUStees' Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounts"ng Standards (United Kingdom Generally Accepted Accounting Practice). The law applicable to charities in England & Wale5 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
select suitable a¢xounting wlicies and then apply them consislentty. observe the methojs and princ4ples in the ChaTFties SORP. make judgements and estimates that are reasonable and prudent. state whether applicabEe accounting standards have been followed, subject to any material departures disclosed and explained in the finanaal statements. prepare finanoal statements on the going concem basis unless it is inappropriale to presume that the charty will conts.nue in operation. The trustees are responsible for keeping proper attounting 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 Chartty (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. Thls report was approved bythe Board of TnEstees on 29 October 2023 Miss Lols McGrath Churth Secretary
Independent Examiner's Reportto the Trustees of Cemetery Road Bapti Churth I report on the atcounts of the charity for the year ended 31 December 2022 which are Set out on pages 11.12,13 and 14 of this report. Respective reSpsIbIlitIeS of trustees and examlner The charitys trustees are responsible for the preparntion of the accounts. The charitys trustees consider that an audit is not required for this year under section 144{21 of the Charities Act 2011 (the 2011 Act) and that an independent examination 15 needed. It 15 my responsibilwty to= examine the accounts under section 145 of the 2011 Art; follow the procedures laid down in the general Directions given by the Charity Cornmission under section 14515llbl of the 2011 Act- and state whether particular matters have come to my attenb"on. Basis of independent examiner's report My examination was carried in accordance wtth the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and comparison of the accounts presented wrth those records. It also includes consideration of any unusual items or disclosures in the accounts. and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequentfy no opinion is given as to whether the accounts present a "true and fair vievf and the report is limited to those matters set out in the statement below. Independent examlner's ststement In connection with my examination, no matter has come to my attention: which gives me reasonable cause to believe thaL in any material respect, the requirements: to keep accounting records in accordance with sertion 130 of the 2011 Act- and to prepare accounts which accord with the accounting records and comply with the accounting requirements of the 2011 Act have been met. Yours sin¢erety. Umar Janlua- ACCA Tyas Shaw & Co Ltd 3-5 Redlands Business Centre. Tapton House Road. Sheffield. SIO 5BY
Cemetery Road 82ptist cb.urch - 1132964 Analysis of iricome and expenditure Selected peliod". 01 January 2022 to 31 December 2022 Totsl Restte Endowmetlt This year Lastyear Income and endowments Donations and legacios 1001 - Offenng5 & planned giving 1004 Gift Fecovered 1005 Donat10ns & Appeals 1018- Cranls 71.5?7 71.537 17.162 28.929 58 874 75,500 17.921 21.968 43,961 17.162 28.749 58.874 Donations and legacies fotals 137450 176.504 159.350 Income from chèritable activities 1008- Roum hire Iobiects E'.atedl Im9. Chuich actiwrties 160 2.160 2,160 1.690 600 Income from charitable activities Toials 2.760 3.850 0+4er tradtng activities Iwo Funoiais'.w Evenis 1001 Lunch Club & flo'wers OtheN trading activities Totols Ipvestments 5.9)3 lTrcotne- IEied fixed asset 11}Ib . Ir-come- unilsteg Iixed a55el liner bank deposit sn je¢51 424 '.24 103 athe." lnvesl.menl Income IOIO- sa of TrJ.ailse 305 Ceirnetry Kuad Sheffie,, 4J4 Investments Totals 6.109 6189 Olher income RoDTn hiro Inol objects relatedl IU17 Minister in Training GFant 1019 Fiefu1Trd 1121 . 5115urance b13imS 3.669 1.08Q 1.718 1 718 1122- t of rnan5e Other rncoffle Totals 5.387 5.387 Income and endowments C?rand totals lil.i86 59 054 190.840 538 961 There may be minordiscypFancJes ir lo(31s ilthe penco are not beit)g showrj
Total Deswnatvd This year LBstye¥T Expenditure Expenditure on charitsble aetivities E001 Sa13ries IGrossl E002- National InSuraft (Employer) E003- PenSD Contributn$ (Employer) E004 . Working expenses & allowances EOOS- Staff training & stuoy weeks EO(E - MIT Grant E007. Manse Gas & Elettric E008- Manse Insurant E009- Manse upkeep & tnaintepan EOID- Manse Water Rates Col l Manse Council Tax E012- Lease cost of Se(r1 Manse E013- Visilino SpeakerslPulprt Supp EOt4. Presentations E015- Worship EO16 - Fellowship training & rnis$N)n E017- Church Insurance E018- Church TephoneS & Internel EO19- Church upkeep & tnaintenan E020- Church G25 & Elertric E021 Church Water ImelererJl Ev22- Cleafj5ng E023- Pnnling, postage & stationery E024- Equiptnent Expenses E025. Other Chyrch running exrenses E026 - 11NS Gas & Electric E027 - 1 INS Upkeep & Maintenan 028- Church Interior & ExterK)r De-rating E02g. Denomin31ional Outreath fjiQ- Subs & gwing to support v+id8r Mission [031 Givin9 to other chariijes E032- International Outreach Ev33- Independeni Examine¢s fees E034- Oth&r fees to Independent Examiner E035- Costs of Deaconslchurch elirys E036- Junior Church E037- FIh[S E038- Legal Expenses 32.190 1.835 71,982 7,890 5.789 244 244 1,287 359 255 359 27 626 255 189 2.054 250 1.423 243 5.426 1.954 1.423 493 5.426 1.453 591 4.889 2.012 23.358 5.9SO 372 763 3.512 1.009 14.044 29) 8.920 12.357 10.276 869 283 10Z76 869 283 1558 3329 1.558 3.329 5.048 4.885 162 1.(5 255 745 7.020 7.020 360 Expendtiture on Gharitable ?ctivities fotals 77. 4.501 9.483 91.951 148.966 Other expenditure EQ39- Purchase of new manse E039- manse purchase E040- Contn to acc8ss grants 500 7.500 7.5(K) Other expendire Totals 8.000 Expenditure Grand totals 78.466 4.501 16.983 99.951 148.966 The maybe minordiscrepancies in the t01315 if Ihe Peft are nol being shown
Cemetery Road Baptisl Church - 1132964 Balance Sheet detailed Asat 3111212022 A5at 3111212021 Fixèd assets FA001". NSB inctyne Bonas 11.000.00 11.mOOO FA(X)2" W8r Siwj FA003.. Unlisted Inv@StrNents 1,162.IXJ 1.162.00 FA004." DekKisit al YBA FAW7" Land ts butlIS FA008.. Equip.-:eftt & fiY]ftJs 409,845.60 406.136 20 l.i84,342.CX) 1,784.342.00 Total Fixad a58els 2.206.349.60 2.202.640.20 Current a88ets CA004 Dew)5 al YPA CAO(6" HSBC C4.?unty AcLounl.'810984541 CA007. HSBC &tssfESS Nloney Man8yÈr 121144734) CA008 Nalwl SawrvJs AcoJur,I CA009 Cash H.. harrfj (Cashl CAO'IO" Pelty Cash CA011. B?Tclays CcrnmunrtyAc£oufit 1637811511 CA012.' Stoc 26,571 10.945 89 59.244.17 60,404 84 5.280.55 5.280 02 335.00 335 00 94,592.20 17.455 73 1,000.00 1.000.00 CA013. Cash Floats Lunth Club 91.00 91.00 CAG14". LtyrKh CA015. FILY%." &CXOU 624.55 624.55 CA016 Y(xrth Wo CA017.' Fund by Z05 Accounts Rewab 493. 493.00 3.299.98 3.533.16 Total Curyent assets 191.S3141 100,163.19 Liabilities 6699". Agencv -0$ Z04." Accounts Payab 18.731.791 19.211 631 Totsl Liabilities 18.731.791 19,21t.631 et Asget sufplus Ideficitl 2,406.613.80 2.312,015.02
Asat 3111212022 Asat 3111212021 ReseNes Excess I Idefbiti to date Z01.. Start9 baiantès Z02. Gai($5e5> on Ip.westm8nt assets 9Q,889.38 389,994 81 2.312.015.02 1,922.020.21 3.709 40 Totrl Res8rve5 2.406.613.80 2,312,015.02 Represented by Funds Unte51fi(tsd 183.969 33 1,633.1 O., 389.580 46 126.939.24 1.837.565.71 ge5rT 347.510.07 Total 2.406.613.80 2.312.015.02
Notes to the Accounts Accounting polities Basis of preparatlon of the accounts The financial statements have been prepared in accordance WFth all applicable accounting standards, as modified by the Statement of Recomrnended Practice for Accounting and Reporting issued by the Charity Commissioners for England & Wales. Irevised June 20081. The accounts have been drawn up in accordance with the provisÈons of the Charities (Accounts and Reports} Regulations 2W8. and include the results of the charity'5 operations which are described in the Trustees, Report. all of which are continuing. The charity has taken advantage of the exemption in Financial Reporting Standard No I from the requirement to produce a cash flow statement. The particular accounting policies adopted are set out below. Accounting convention The financial statements are prepared on a going concern basis, under the historical cost convention as modified by the revaluation of fixed asset investments. Incoming Resource5 Incoming resources are accounted for on a receivable basi5. Investment Income Investment income is intluded in the income and expenditure account on a received basis. Interest received from the bank and other deposits is also included on a receipts basis. Deferred Income In accordance with the Statement of Recommended Practice for Accounting and Reporting (revised June 2(h)81, issued by the Charity Commissioners for England & Wales, grants received in advance and spectfied by the donor as relating to specific accounting periods, or alternatively which are subject to conditions which are still to be meL and which are outside the control of the charity. or where it is uncertain whether the conditions can or will be met, are deferred on an accruals basis to the period to which they relate. Such deferrals are shown in the notes to the accounts and the sums involved are shown as creditors in the accounts. Recognltlon of Ilablliiie5 Liabilities are recognised on the accruals basis in accordance wth normal accounting principles, modified where necessary in accordance with the guidance given in the Ststement of Recommended Practice for Accounting and Reporting (revised June 21x181, issued by the Charity Commissioner5 for England & Wale5. Resources EXpded The poliry for including items within the relevant activity categories of resources expended is as follows=
Costs of generating lunds The costs of generating funds are inherent in operdting as a church and are not considered capable of being separately identified. aritsble artTvities Charitable expenditure includes all expenditure direcdy and indirectly related to the objects of the Charity. Governance costs Governance costs include all expendtture directly related to compliance with charttable and statutory requirements. Unrealised and realised gains Unrealised gains and lossesare computed by referencetothe market value of the investments at the balance sheet date. compared to the brought forward cost or Wdluation, with gains and losses arising on similar categories of investments being netted off. Sto(*s Stocks are valued at the lower of cost and net realisable value. Investments held by the tharity The policy for including investments in the accounts is as follows= sted investments have been included in the balance sheet at their mid-market value at the year end. Unlisted investmentscomprise holdings in un"rtfunds, these have been included in the balance sheet at the redemption values prevailing at the year end. xed assets and deprecialion All tangible fixed assets, except freehold land and buildings, are 5tsted at cost less depreciation. Freehold land and buildings were included attheii estimated fair value in 2003. In the opinion of the Oeacons their estimated residual values will not be materially differentfrom their book values, hence depreciation has not been charged. Immaterial items of less than £5(K) are not capitalised. Depreciation has been provided at the following rates in order to write off the assets {less their estimated residual value l over their estimated usefijl economic live5. Fittings and equipment- 15% reducing balance A regular review of the likelihood of asset impairnient 15 undertaken.
Capital grants The managing trustees considerthat. in order to comply WTth the Statement of Recommended Practice for Accounting and Reporting issued by the Charity Commissioners for England & Wales (revised June 2(81. gifts of tangible fixed assets or grants of a capital nature given for specific purposes and fully utilised in the furtherance of the objects of the charity should be credited to the relevant fixed asset fund after the sum5 have been properly expended on the rÈstricted purpose. The related asset is shown in the balance sheet at the full cost of acquisition or subsequent revaluation. Taxation As a registered charity, the organisation is exempt from income and corporation tsx to the extent that its income and gains are applicable to charitable purposes only. Value Added Tax is not recoverable by the charity. and is therefore included in the relevant costs in the Statement of Financial Activrties. Flnano and operating leases Rentsls payable in respect of operating leases where substsntially all the benefits and risks of ownership rernain with the lessor are charged to the Statement of Financial Artivities as incurred. Funds structure policy The charrty maintains a general unrestrirted fund which represents funds which are expendable at the discretion of the trustees in furtherance of the objects of the charity. Such tunds may be held in order to finance both working capital and capital investment. Restricted funds have been provided to the chartty for particular purposes. and it is the policy of the managing trustees to carefully monttor the application of those funds in accordance with the restrictions placed upon them. A Designated Fixed Asset fund 15 maintained which represents the written down value of tangible fixed assets. There is no fomal policyof transfer between funds or on the allocation of fund5 to designated funds, other than that described above. Any other proposed transfer between funds would be considered on the particular circum5tsnces. Accounting for Legaties Legacies are accounted for when in the opinion of the Deacons such receipts are reasonably certain and can be readily quantified.
Recognltion of Pens1 costs and pensi assets and liabilrlies The church contribute5 to the Baptist Ministers, Pension Scheme, a final salary {ie defined benefit) scheme. which at its last actuarial valuation was underfunded as at 31 December 2CK)7. To try to rectify this. contributions were increased by a third from l January 2009. but de5Pltethisthe situation of the fund was not improving as much as it needed to do, and during 2011 the Baptist Union decided, reluctsntly. that it would need to close the scheme and replace it by a new defined contribution Scheme. The old scheme was therefore frozen with effect from 31 December 2011, with the liabilities to members that had already been accumulated in it being preserved. The new scheme came into operats'on on l January 2012, and so members and churches are now contributing to this new scheme, and also Continuing to contribute to the old scherne in order to reduce its shortfall of assets compared with liabilities. Wlndln8 up or dlssolutlw of the (harfty If upon winding up or dissolution of the tharity there remain any assets, after the satisfaction of all debts and liabilities, the assets represente(I bythe accumulated fund shall be transferred to some other charitsble body or IM)dies having similar obje¢ts to the charity..........