2022-12-31-accounts - Tabernacle Baptist Church, Penarth

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.


Independent	examiner's report to the trustees
Statement	offinancial	activities
Statement	offinancial	position
Notes to the financial		statements

31 December 20	22
					2022	2021
				Note	6	6
Fixed assets
Tangible fixed assets				12	1,315,159	1,315,159
Current assets
Debtors				13	9234	8716
Cash at bank and in	hand				142,798	176,945
					152,032	185,661
Creditors: amounts	falling due within one year			14	4,867	5,689
Net current assets					147,165	17S,S72
Total assets less current liabilities					1,462,324	1,495,131
Defined benefit pension		plan liability		15		21,400
Net assets including	defined benefit pension		plan liability		1,462,324	1,473,731
Funds ofthe charity
Restricted funds					27,648	33,156
Unrestricted funds:
Revaluation reserve					687,617	687,617
Other unrestricted		income funds			747,05S	752,958
Total unrestricted funds					1,434,676	1,440,575
Total charity funds				17	1,462,324	1,473,731

			Unrestricted	Funds	Unrestricted	Funds
			Funds	2922	Funds	2021
			8	6	6
Bank	interest	receivable	128	128	18	18

Expenditure on charitable activit	ies by fund type
	Unrestricted	Restricted	Total Funds
	Funds	Funds	2022
		8	9
Ministry	82,970	1,340	84,310
Establishment	69,690		69,690
Mission	32,408	23,812	56,220
Support costs	14,380		14,380
	199,448	25,152	224,600
	Unrestricted	Restricted	Total Funds
	Funds	Funds	2021
Ministry	55,224	3,196	58,420
Establishment	64,981	2,161	67,142
Mission	36,016	14,102	50,118
Support costs	15,314		15,314
	171,535	19,459	190,994

	In respect		of tangible	of tangible	fixed assets	held	aggregate	cost, depreciation	cost, depreciation	and
	comparable		carrying amount that would			have been recognised	ifthe assets	had been	carried	under
	the historical cost model are as follows:
									Freehold
									property
	At 31 December 2022
	Aggregate		cost						535,159
	Aggregate		depreciation
	Carrying	value							535,159
	At 31 December 2021
	Aggregate		cost						535,159
	Aggregate		depreciation
	CarrYing value								535,159
13.	Debtors
								2022	2021
								F		E
	Other debtors							9,234		8,716
								9,234		8,716
14.	Creditors:		amounts	falling due within one year
									2021
										6
	Accruals and deferred				income			4,867		5,689
								4,867		5,145
15.	Pensions		and other	post retirement		benefits

Type offinancial assumption		o/o pa
RPI price inflation assumption		3.20
CPI price inflation assumption		2.70
Minimum Pensionable Income Increase adjustment (above CPI)		0.50
Pre-retirement assumed investment returns(gilt yield plus 1.75'/o pa)		2.95
Post retirement assumed investment
returns (including benefits matched the insurance policy} (gilt yield plus	by	1.70
0.5% pa)
Minimum Pensionable Income increases (CPI plus 0.5%}		3.20
Deferred pension increases (based on
RPi}
- Pre April 2009		3.20
- Post April 2009		2.50
Pension increases
- Based on CPI with an annual floor 0%and annual cap of5%.	of	2.70

Section 28.11A of FRS liability. The movement	102 requires agr in the provision is	eed deficit recovery paym set out in the table below.	ents to be recognis
Accounting date (year	ending):	31 Dec 2022	31 Dec 2021
Balance sheet liability at	year start	521,400	g26,128
Minus deficiency contributions paid		(R2,707)	(54,564)
Interest cost (recognised	in SoFA)	2401	f262
Remaining change to balance sheet liability* (recognised in SoFA)		(F19,094)	(fA26)
Balance sheet liability at	year end		E21,400

the deficit reco	very payments.
Accounting	date	31 Dec 2022	31 Dec 2021
Discount rate		5.3%	2.0%
Future increases to Minimum Pensionable Income		3.3%	4.1%