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2021-11-30-accounts

Charity Registration No. 1134346

TRUSTEES OF FULLER BAPTIST CHURCH ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2021

TRUSTEES OF FULLER BAPTIST CHURCH

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees Mr D M Leverett
Mrs F I Malsher
Reverend Dr R Sokolowski
Reverend V Sokolowski
Mr S R Vidler
D Whitehouse
Mrs B Halfpenny (Appointed 1 January
2022)
Mrs J Jessop (Appointed 1 January
2022)
Miss T Ndlovu (Appointed 1 January
2022)
Charity number 1134346
Principal address 51 Gold Street
Kettering
Northamptonshire
United Kingdom
NN16 8JB
Independent examiner Azets Audit Services
Thorpe House
93 Headlands
Kettering
Northamptonshire
United Kingdom
NN15 6BL
Bankers Lloyds Bank Plc
3-4 Market Street
Kettering
Northamptonshire
United Kingdom
NN16 0AH
Solicitors Anthony Collins Solicitors LLP
134 Edmunds Street
Birmingham
United Kingdom
B3 2ES

TRUSTEES OF FULLER BAPTIST CHURCH

CONTENTS

Page
Trustees' report 1 - 6
Statement of Trustees' responsibilities 7
Independent examiner's report 8
Statement of financial activities 9 - 10
Balance sheet 11
Notes to the financial statements 12 - 31

TRUSTEES OF FULLER BAPTIST CHURCH

TRUSTEES' REPORT

FOR THE YEAR ENDED 30 NOVEMBER 2021

The Trustees present their report and financial statements for the year ended 30 November 2021.

The financial statements have been prepared in accordance with the accounting policies set out in notes to the accounts and comply with the Church ’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 published in October 2019 .

Objectives and activities

The Trust's mission statement is to honour the Lord Jesus Christ, to grow in knowledge and experience of Him, and to share His love with each other, our town, nation and world.

The main objective of this Church is to share the love of and salvation provided by God through His Son, the Lord Jesus Christ, to those with whom Church members come into contact.

With the exception of ministers, the managing trustees all act in an honorary capacity. All give of their time in preparing and attending meetings, in sharing in pastoral oversight of Church members and adherents, and in sharing leadership in the many Church activities.

Public benefit statement

When planning activities for the year the managing trustees have considered The Charity Commission's guidance on public benefit and in particular, the specific guidance on charities for the advancement of religion.

When COVID restrictions allow, the Charity undertakes regular public worship, prayer, Bible study, preaching and teaching; baptism; Communion of the Lord's Supper; evangelism and mission locally, often in conjunction with other Churches; the teaching, encouragement, welcome and inclusion of young people; the nurture and growth of Christian disciples; the education and training for Christian and community service; giving and encouraging pastoral care; supporting and encouraging charitable social action in the United Kingdom and abroad; encouraging relationships with and supporting Baptists and other Christians.

The managing trustees have a policy of raising funds to make grants to specific individuals and organisations. A total of £12,297 (2020: £15,204) was donated during the year to assist with the proclamation of the gospel of Jesus Christ.

TRUSTEES OF FULLER BAPTIST CHURCH

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2021

Achievements and performance

The managing trustees have continued to make the premises available to the members of Fuller Baptist Church for their use in worship and service within the Christian faith.

Public Worship and Prayer

2021 began with lockdown, and a longer one than that of Spring 2020. We met online for worship all the way to Easter meeting on YouTube live followed by Zoom refreshments. Eventually, once the majority of the congregation were attending on Sundays each week, we transferred from, to running a weekly catchup service via YouTube. We have made DVDs available to members with no online access .

Worship on site was intermittent until the summer, but thanks to a huge amount of behind-the-scenes organisation, our measures to control infection were robust and we adjusted to shorter services and limited scope for participation. The stewarding team have worked hard to keep everyone informed as measures have changed.

A double baptism came in May which provided a real boost to us all. It was a massive joy and relief to be able to sing again in church in July – even though the masks remained for most of us. We implemented some relaxations of restrictions, to allow people to either socially distance or not and to permit fellowship after the services. We have seen steadily increasing numbers of attendees on Sundays since that point. By the end of the year our Sunday morning attendance was not dissimilar to pre-pandemic levels.

Prayer Hour has been consistently attended by half a dozen or so every week online.

Children and Youth

2021 has been a remarkably difficult year for children and young people in education, at home and in church. After four months in lockdown, we wanted to restart and re-engage with Children and Youth ministry but knew balancing need with available volunteers would be a challenge. We decided to increase the regularity of All Age Worship and run a single group for Primary age children, alongside Rock Solid for Secondary aged children. We’re enjoying the combined group format .

Regrettably, we decided that it would not be wise to run an in person Holiday Bible Club in 2021. We also felt that although the online club in 2020 had been a success, that we ought not to repeat it as parents and children were both weary of remote learning.

During Autumn we saw numbers at Sunday Club increase substantially. We currently have 30 children registered for our Primary Group . Rock Solid currently have 18 young people registered The Sunday Club team remains small but very faithful .

Autumn also saw the return of Noah’s Ark on Friday mornings, serving the parents and toddlers of Kettering by offering a safe and fun space for young children and their adults to be. Everyone who comes appreciates this ministry and grateful thanks are offered to the team who faithfully serve each Friday.

A group of young people met regularly online via zoom during the time we could not meet in person. Times together included online games and quizzes. Youth Club returned in Autumn and is now meeting fortnightly. We have a regular group of 10 to 15 young people attending. Highlights so far have included fireworks and hotdogs for bonfire night and pizza night. The young people have also met for one off events and socials, such as a BBQ, bowling and movie night.

Uniformed organisations returned to use the building from late spring, with all groups back by September.

TRUSTEES OF FULLER BAPTIST CHURCH

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2021

Achievements and performance (continued)

Mission and Evangelism

We have been involved in very little direct outreach during 2021 for obvious reasons. Causes supported throughout the year included BMS World Mission, The Bible Society, Christian Aid (for which huge efforts were made in our walking and fundraising), Kettering Foodbank and Kettering Street Pastors. We have given substantially to Home Mission to support UK Baptist churches in their work to expand the kingdom.

As a church we hosted the Kettering Corona Kitchen for three months from June to August, enabling them

to minister a free meal five days a week to those in hardship in our town.

Teaching and Discipleship

Teaching followed the theme from Philippians 3:12-14 of ‘pressing on toward the goal’. We were encouraged by this motto text to keep going through the dark times and to look for signs of hope and God’s way forward for us.

A Lent course taking us through Matthew’s gospel proved very popular, with a number of lively discussions online. During Summer Christianity Explored ran for seven weeks online and we concluded with a barbecue in July. Housegroups and Bible Study ran online for most of the year.

Welcome, Fellowship and Pastoral Care

Membership figures are slightly lower than 12 months ago, due to deaths and relocations and now stand at 123.

Zoom fellowship on Sundays proved very valuable to some of the congregation, although attendance was always lower than the live YouTube viewing figures and did noticeably dip by the late spring. The successful and much appreciated ‘Phone Club’ came to a natural end in June as we began to see people attend more regularly on Sundays.

The Pastoral Care Team, including the Visiting Team, have worked to keep contact with people under very challenging circumstances. At times it has been possible to visit in person, at times not. Much work has been done on the phone and the team now have a monthly list of ‘non-urgent’ calls to make in addition to known pastoral situations.

The Newcomers team continues to work hard at coming alongside those who have just arrived and joined us. We held our first welcoming event in November for some time, with six new people attending, three of whom are now members.

During the year the Church have taken on a Youth Worker and a Church Operations Officer who will give the Church new opportunities for ministry.

Throughout the financial year the ministers of the Church were Reverend Dr Roland Sokolowski and

Reverend Vicki Sokolowski.

The whole fellowship seeks to touch the lives of people in and around Kettering with the good news of Jesus Christ. Our mission statement is "Honouring the Lord Jesus Christ, growing in our knowledge and experience of him, sharing his love with each other, our town, nation and world".

TRUSTEES OF FULLER BAPTIST CHURCH

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2021

Achievements and performance (continued)

Making the premises available for community use

The C hurch hosts the office and course venues for Kettering Community Unit, a local charity working with vulnerable people and several hundred attend courses on the church premises during term time.

The plans to refurbish the Newland Street premises have been put on hold during the pandemic but there

are now plans to adapt the space for community activities.

The Church's heritage centre plans to open the to the public regularly in the future, and to link in with local schools.

The Church plans to increase the use of the building by the general public in the coming year, recognising that it is a community asset.

Financial review

The principal funding source is the regular giving to the Church by its members and others, inclusive of associated gift aid tax recovery.

Total income for the year was £137,953 (2020: £175,374) of which £123,351 (2020: £153,442) came from donations and legacies. Income from charitable activities totalled £215 (2020: £2,143). Investments produced £4,847 compared to £6,375 in 2020.

Expenditure on charitable activities totalled £144,137 (2020: £123,802).

Overall there was a surplus of £394 compared to a surplus in 2020 of £39,337.

The total fund balances carried forward now amount to £ 1,811,686 of which £ 1,563,643 are unrestricted funds. Part of this total is held on various designated funds. Free reserves are the unrestricted funds, not including designated funds, deducting amounts invested in tangible assets and investment properties . Free reserves are calculated to be £ 183,951 (2020: £392,746).

During the year, the Trustees reviewed the level of free reserves and have decided that these funds which have not been designated for a specific use should, in future, be retained at a level equivalent to approximately 6 month’s expenditure . During the year , they have identified a number of projects and areas for which funds should be retained and have designated a total of £ 251,613 to meet these funding requirements. They will review the designated funds each year to work towards achieving the agreed level of free reserves. The Trustees consider that reserves at this level will ensure that, in the event of unforeseen variations in income streams, they will be able to continue the Trust’s current activities while consideration is given to ways in which additional funds may be raised.

The COVID-19 pandemic is likely to continue to have impact on income levels in the current year but the available reserves will ensure that the Church can maintain its activities in the future.

The investments made by the managing trustees are in unit trusts for charities which were acquired some years ago on investment advice as being suitable investments for the holding of church funds. The equities were specifically bequeathed to the Church. The managing trustees do not consider the costs of employing professional investment advisors can be justified bearing in mind the amount of funds in quoted investments. All investments held by the Church during the year are in accordance with the powers of the trustees, as authorised by the Trustee Act 2000.

The trustees have reviewed the major risks to which the charity is exposed, and in particular to those relating to the operations and finances of the charity.

TRUSTEES OF FULLER BAPTIST CHURCH

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2021

Financial review (continued)

Having regard to the levels and categories of insurance cover, the controls on the financial systems, and following the guidelines suggested by the Baptist Union of Great Britain in respect of both a Health and Safety Policy, a Safeguarding Policy and evacuation procedures in the event of an emergency, the trustees are satisfied that systems are in place to mitigate the charity's exposure to major risks.

Structure, governance and management

The Trust was set up by a Declaration of Trust dated 25 February 1816, for the Baptist Church which had been founded in Kettering in 1696. The deed provides the basis for the working of Fuller Baptist Church on the site in Gold Street, or on any other site within a twelve mile radius.

The holding trustees have provided, through the generosity of many benefactors, the premises occupied by Fuller Baptist Church, for use by its members and others, in the worship of God and in adherence to the Christian Faith as practised by those known as Baptists.

The holding trustees are appointed by the members of the Church at a Special Church Meeting called for that purpose, and are appointed for life unless they resign, become of unsound mind, or are removed at a Special Church Meeting called for that purpose. The trust deed provides for a minimum of five and a maximum of thirteen trustees. The holding trustees own the legal title to the freehold and leasehold properties and investments of the Church. The holding trustees only meet when matters relating to property legal issues need to be progressed.

The holding trustees in office during the year were:

The Baptist Union Corporation Limited Mrs N Butlin RGN RM H/V Cert (Retired) Mr D M Leverett FCA Mr S G Toseland B Ed (Hons) Dr P D Wharin MA MB BChir MRCGP

The managing trustees are the ministers and deacons. The ministers are appointed by the members of the Church at a Special Church Meeting called for that purpose. The deacons are also appointed at a Special Church Meeting called for that purpose, and their term of appointment is normally three years, following which they are eligible for re-nomination. The managing trustees usually meet at least eleven times each year, and additional meetings are called as required. New managing trustees receive a booklet published by The Baptist Union of Great Britain outlining their duties and responsibilities.

The managing trustees (minister and deacons) who held office during the financial year were as follows:

Mr Joe Cleaver - Church Treasurer - resigned December 2020 Mr Paul Henderson – resigned December 2021 Mr Paul Lashmar – Church Secretary- resigned November 2021 Mr David M Leverett Mrs Fiona I Malsher Miss Jacqueline D Pentlow - resigned December 2021 Reverend Dr Roland Sokolowski Reverend Victoria Sokolowski Mr Stephen R Vidler Mr David Whitehouse - Church Treasurer - appointed December 2020 Mrs B Halfpenny – appointed January 202 2 Mrs J Jessop – appointed January 202 2 Miss T Ndlovu – appointed January 202 2

Church members usually meet six times each year to decide on matters of business relating to the whole Church. For most of the year these meetings have been held via Zoom.

TRUSTEES OF FULLER BAPTIST CHURCH

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2021

The Trustees' r eport was approved by the Board of Trustees.

D Whitehouse

Dated: 24 May 2022

TRUSTEES OF FULLER BAPTIST CHURCH

STATEMENT OF TRUSTEES' RESPONSIBILITIES

FOR THE YEAR ENDED 30 NOVEMBER 2021

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 Trust and of the incoming resources and application of resources of the Trust 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 Trust 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 Trust and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

TRUSTEES OF FULLER BAPTIST CHURCH

INDEPENDENT EXAMINER'S REPORT

TO THE TRUSTEES OF TRUSTEES OF FULLER BAPTIST CHURCH

I report to the Trustees on my examination of the financial statements of Trustees of Fuller Baptist Church (the Trust) for the year ended 30 November 2021.

Responsibilities and basis of report

As the Trustees of the Trust 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 Trust’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

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.

Richard Monkhouse FCCA Thorpe House 93 Headlands Kettering Northamptonshire NN15 6BL United Kingdom

Dated: 27 May 2022

TRUSTEES OF FULLER BAPTIST CHURCH

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 NOVEMBER 2021

Current financial year
Unrestricted
Restricted Endowment
funds
funds
funds
2021
2021
2021
Notes
£
£
£
Income and endowments from:
Donations and legacies
3
110,692
12,659
-
Charitable activities
4
215
-
-
Investments
5
4,726
121
-
Other income
9,540
-
-
Total income
125,173
12,780
-
Expenditure on:
Charitable activities
6
128,541
15,596
-
Net gains/(losses) on investments
11
352
-
6,226
Net (outgoing)/incoming resources
before transfers
(3,016)
(2,816)
6,226
Net (outgoing)/incoming resources
before transfers
(3,016)
(2,816)
6,226
Gross transfers between funds
(302)
302
-
Net movement in funds
(3,318)
(2,514)
6,226
Fund balances at 1 December 2020
1,566,961
105,115
139,216
Fund balances at 30 November
2021
1,563,643
102,601
145,442		 Total
2021
£
123,351
215
4,847
9,540
137,953
144,137
6,578
394
394
-
394
1,811,292
1,811,686		 Total
2020
£
157,301
2,143
6,375
9,555
175,374
123,802
(12,235)
39,337
39,337
-
39,337
1,771,955
1,811,292

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

TRUSTEES OF FULLER BAPTIST CHURCH

STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2021

Prior financial year
Unrestricted
Restricted Endowment
funds
funds
funds
2020
2020
2020
Notes
£
£
£
Income and endowments from:
Donations and legacies
3
143,171
14,130
-
Charitable activities
4
2,143
-
-
Investments
5
5,838
537
-
Other income
9,445
110
-
Total income
160,597
14,777
-
Expenditure on:
Charitable activities
6
106,429
17,373
-
Net gains/(losses) on investments
11
(831)
-
(11,404)
Net (outgoing)/incoming resources before
transfers
53,337
(2,596)
(11,404)
Gross transfers between funds
(1,619)
1,619
-
Net movement in funds
51,718
(977)
(11,404)
Fund balances at 1 December 2019
1,515,243
106,092
150,620
Fund balances at 30 November 2020
1,566,961
105,115
139,216		 Total
2020
£
157,301
2,143
6,375
9,555
175,374
123,802
(12,235)
39,337
-
39,337
1,771,955
1,811,292

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

TRUSTEES OF FULLER BAPTIST CHURCH

BALANCE SHEET

AS AT 30 NOVEMBER 2021

Notes
Fixed assets
Tangible assets
12
Investment properties
13
Investments
14
Current assets
Debtors
15
Investments
16
Cash at bank and in hand
Creditors: amounts falling due within
one year
17
Net current assets
Total assets less current liabilities
Provisions for liabilities
18
Net assets
Capital funds
Endowment funds
20
Income funds
Restricted funds
21
Unrestricted funds-general
Designated funds
22
General unrestricted funds		 2021
£
£
1,185,874
10,000
65,377
1,261,251
10,925
188,453
386,815
586,193
(14,058)
572,135
1,833,386
(21,700)
1,811,686
145,442
102,601
251,613
1,312,030
1,563,643
1,811,686		 2020
£
£
1,180,878
10,000
60,311
1,251,189
12,921
186,584
395,074
594,579
(10,386)
584,193
1,835,382
(24,090)
1,811,292
139,216
105,115
51,133
1,515,828
1,566,961
1,811,292

The financial statements were approved by the Trustees on 9 May 2022

D Whitehouse Trustee

TRUSTEES OF FULLER BAPTIST CHURCH

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2021

1 Accounting policies

Charity information

The Fuller Baptist Church is a charity, registered with the Charity Commission no. 1134346 and meets the FRS 102 definition of a public benefit entity.

1.1 Accounting convention

The financial statements have been prepared in accordance with 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 issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011 and UK Generally Accepted Practice.

The financial statements have been prepared to give a ‘true and fair’ view and 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 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 issued in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.

The financial statements are prepared in sterling , which is the functional currency of the Trust . Monetary a mounts 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 Trust 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 separate designated funds are listed 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 Trust.

1.4 Incoming resources

Income is recognised when the Trust 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 Trust has been notified of the donation, unless performance conditions require deferral of the amount.

Legacies are recognised on receipt or otherwise if the Trust 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.

TRUSTEES OF FULLER BAPTIST CHURCH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2021

1 Accounting policies

(Continued)

1.5 Resources expended

All expenditure is accounted for on an accruals basis and is recognised where there is a legal or constructive obligation to make payments to third parties, it is probable that settlement will be required and the amount of the obligation can be measured reliably.

The Church does not make formal appeals for funds, and expenditure on these items is therefore not material.

The Church makes grants to other organisations whose charitable objectives complement its work. They are accounted for when the recipient has been notified of the grant and payment is unconditional.

Support costs are those costs that assist the work of the Church but do not directly represent charitable activities and include office costs and governance costs. Where support costs cannot be directly attributed to particular headings they have been allocated to expenditure on charitable activities on a basis consistent with the use of resources. Governance costs are costs associated the governance arrangements of the Church. Most of the management is carried out without charge by volunteers. This intangible cost is not included in the Statement of Financial Activities since there is no measurable cost to the volunteers for their service.

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.

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 0%
Fixtures, fittings and equipment 15% - 25%
Audio and IT equipment 33%

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 net income/(expenditure) for the year.

No depreciation has been provided on freehold land and buildings as it the policy of the trustees to maintain these assets in a continual state of sound repair. Accordingly the trustees consider the lives of these assets to be so long and their residual values so high, that their depreciation is insignificant.

1.7 Investment properties

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure.

Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in profit or loss.

1.8 Fixed asset investments

Fixed asset investments are initially measured at transaction price and are subsequently measured at fair value at each reporting date using the closing quoted market price . Changes in fair value are recognised in net income/(expenditure) for the year.

TRUSTEES OF FULLER BAPTIST CHURCH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2021

1 Accounting policies

(Continued)

1.9 Impairment of fixed assets

At each reporting end date, the Trust 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 ) .

1.10 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 . Deposits with original maturities between three months and twelve months are classified as current asset investments.

Basic financial assets

Basic financial assets include debtors and cash and bank balances. Debtors are recognised at the settlement amount due after any trade discount offered.

Basic financial liabilities

Basic financial liabilities include creditors and bank loans. Creditors are normally recognised at their settlement amount.

Derecognition of financial liabilities

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

1.11 Provisions

Provisions are recognised when the Trust has a legal or constructive present obligation as a result of a past event, it is probable that the Trust will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the reporting end date, taking into account the risks and uncertainties surrounding the obligation. Where the effect of the time value of money is material, the amount expected to be required to settle the obligation is recognised at present value. When a provision i s measured at present value , the unwinding of the discount is recognised as a finance cost in net income/(expenditure) in the period in which it arises.

1.12 Retirement benefits

The Church operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Church pays fixed contributions into a separate entity. Once the contributions have been paid, the Church has no further payments obligations. The contributions are recognised as an expense when they are due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the Church in an independently administered fund.

Prior to 2012 pension provision was made through a multi-employer defined benefit pension plans. Where it is not possible for the Church to obtain sufficient information to enable it to account for a plan as a defined benefit plan, it accounts for it as a defined contribution plan.

Where the plan is in deficit and where the Church has agreed, with the plan, to participate in a deficit funding arrangement, the Church recognises a liability for this obligation. The amount recognised is the net present value of the contributions payable under the agreement that relate to the deficit. The unwinding of the discount is recognised as a finance cost and any other change in the measurement of this liability is expensed to the Statement of Financial Activities.

TRUSTEES OF FULLER BAPTIST CHURCH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2021

2 Critical accounting estimates and judgements

In the application of the Trust’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.

3 Donations and legacies

Unrestricted
Restricted
funds
funds
general
2021
2021
£
£
Donations and gifts
106,185
12,659
JRS grants received
4,304
-
Legacies
203
-
For the year ended 30 November 2021
110,692
12,659
For the year ended 30 November 2020
143,171
14,130
Donations and gifts
Offerings
74,924
-
Other donations
17,480
12,659
Gift aid offerings
13,781
-
106,185
12,659		 Total
2021
£
118,844
4,304
203
123,351
74,924
30,139
13,781
118,844		 Total
2020
£
118,952
3,859
34,490
157,301
157,301
77,767
25,908
15,277
118,952

4 Charitable activities

Other Other charitable income
charitable
income
2021 2020
£ £
Sales within charitable activities 34 924
Subscriptions and entrance fees 181 1,219
215 2,143

TRUSTEES OF FULLER BAPTIST CHURCH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2021

5 Investments

Unrestricted
Restricted
TotalUnrestricted
Restricted
funds
funds
funds
funds
general
general
2021
2021
2021
2020
2020
£
£
£
£
£
Rental income
125
-
125
125
-
Income from listed
investments - dividends
3,056
-
3,056
3,569
-
Interest receivable
1,545
121
1,666
2,144
537
4,726
121
4,847
5,838
537
Charitable activities
Ministry
costs
Cost of goods
sold
Mission
costs
Establishme
nt costs
Total
2021
2021
2021
2021
2021
£
£
£
£
£
Staff costs
45,605
-
-
14,969
60,574
Other ministry costs
2,100
96
2,652
58,349
63,197
47,705
96
2,652
73,318
123,771
Grant funding of activities
(see note 7)
-
-
12,297
-
12,297
Share of support costs
(see note 8)
-
-
-
1,927
1,927
Share of governance costs
(see note 8)
6,142
-
-
-
6,142
53,847
96
14,949
75,245
144,137
Analysis by fund
Unrestricted funds -
general
49,270
96
3,930
75,245
128,541
Restricted funds
4,577
-
11,019
-
15,596
53,847
96
14,949
75,245
144,137		 Total
2020
£
125
3,569
2,681
6,375
Total
2020
£
32,335
67,693
100,028
15,204
2,305
6,265
123,802
106,429
17,373
123,802

6 Charitable activities

TRUSTEES OF FULLER BAPTIST CHURCH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2021

6 Charitable activities

(Continued)

For the year ended 30 November 2020

Ministry
costs
Cost of
goods sold
Mission
costs
Establishme
nt costs
£
£
£
£
Staff costs
19,689
-
-
12,646
Other ministry costs
2,145
2,560
11,920
51,068
21,834
2,560
11,920
63,714
Grant funding of activities (see note 7)
-
-
15,204
-
Share of support costs (see note 8)
-
-
-
2,305
Share of governance costs (see note 8)
6,265
-
-
-
28,099
2,560
27,124
66,019
Analysis by fund
Unrestricted funds - general
28,099
2,560
11,808
63,962
Restricted funds
-
-
15,316
2,057
28,099
2,560
27,124
66,019
Grants payable
2021
£
Grants to institutions:
Baptist Home Mission
3,415
BMS World Mission
1,622
Banso Baptist Hospital
2,112
Christian Aid
2,567
Christmas Appeal
2,125
Benevolent Fund
-
Other
-
DEC Disaster Appeals
-
BMS Harvest
-
BMS Birthday Scheme
456
12,297		 Total
2020
£
32,335
67,693
100,028
15,204
2,305
6,265
123,802
106,429
17,373
123,802
2020
£
4,632
2,739
605
-
1,380
100
473
1,260
3,569
446
15,204

7 Grants payable

TRUSTEES OF FULLER BAPTIST CHURCH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2021

8
Support costs
Support
costs
Governance
costs
£
£
Church office costs
1,927
-
Finance costs
-
-
Independent examiner's
remuneration
-
6,142
1,927
6,142
Analysed between
Charitable activities
1,927
6,142		 2021
£
1,927
-
6,142
8,069
8,069		 2020 Basis of allocation
£
2,115 Usage
190 Usage
6,265
Governance
8,570
8,570

The total charged for the services of the independent examiner is made up of £1,980 (2020: £1,980) for the independent examination and £4,162 (2020: £4,285) for accountancy, payroll and other services.

9 Trustees

None of the Trustees (or any persons connected with them) received any remuneration during the year for their services as trustees.

Four (2020: six) of the trustees were reimbursed a total of £4,887 (2020: £ 2,331) in respect of postage, telephone, lighting and other equipment, and other out-of-pocket expenses.

10 Employees

The average monthly number of employees during the year was:

2021 2020
Number Number
4 4
Employment costs 2021 2020
£ £
Wages and salaries 54,753 42,630
Social security costs 219 -
Other pension costs 5,602 (10,295)
60,574 32,335

TRUSTEES OF FULLER BAPTIST CHURCH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2021

10 Employees

(Continued)

The Church's liability in respect of the Baptist Pension Scheme deficit was increased/(reduced) by £1,641 (2020: (£14,062)) in the year. The change represents actuarial losses/(gains) on re-measurement of the liability and is included in other pension costs disclosed above.

Pension costs for the year, excluding actuarial losses/(gains) were £3,961 (2020: £3,767).

No employee received emoluments in excess of £60,000 per annum during the year (2020: none).

The Ministers act as Church trustees in accordance with the Church's constitution and they received remuneration of £30,573 (2020: £29,943) and other benefits in respect of their services as Ministers, including the provision of manse accommodation owned by the church. Manse property costs in the year totalled £5,801 (2020: £5,795).

The key management personnel are the managing trustees. Total aggregate remuneration paid to key

management personnel during the year was £34,258 (2020: £33,554).

11 Net gains/(losses) on investments

Unrestricted Endowment
funds
funds
general
2021
2021
£
£
Revaluation of
investments
-
6,226
Gain/(loss) on sale of
investments
352
-
352
6,226		 TotalUnrestricted Endowment
Total
funds
funds
general
2021
2020
2020
2020
£
£
£
£
6,226
(831)
(11,404)
(12,235)
352
-
-
-
6,578
(831)
(11,404)
(12,235)

TRUSTEES OF FULLER BAPTIST CHURCH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2021

12 Tangible fixed assets

Freehold land
and buildings
£
Cost or valuation
At 1 December 2020
1,157,954
Additions
-
At 30 November 2021
1,157,954
Depreciation and impairment
At 1 December 2020
-
Depreciation charged in the year
-
At 30 November 2021
-
Carrying amount
At 30 November 2021
1,157,954
At 30 November 2020
1,157,954		 Fixtures,
fittings and
equipment
Audio and IT
equipment
£
£
203,904
-
4,800
12,638
208,704
12,638
180,979
-
11,174
1,269
192,153
1,269
16,551
11,369
22,924
-		 Total
£
1,361,858
17,438
1,379,296
180,979
12,443
193,422
1,185,874
1,180,878

All the fixed assets were used for direct charitable purposes.

All the freehold land and buildings except 4 Sapphire Close were valued as at 30 November 1996 by Barnes Noble Edwards, Chartered Surveyors, based upon current use value.

4 Sapphire Close has been included at its cost in March 1998.

13 St Mary's Road was extended and improved during 2012, the costs of which have been capitalised as they added value to the property.

For insurance purposes the freehold property has a value of approximately £8m.

13 Investment property

Investment property
2021
£
Fair value
At 1 December 2020 and 30 November 2021 10,000

Investment property comprises a freehold reversion of leased properties situated at 59/69 Gold Street Kettering.

The leases expire on 16 December 2032.

There has been no recent professional valuation of the investment property but the trustees believe that the fair value at 30 November 2021 is not significantly different to the carrying value.

TRUSTEES OF FULLER BAPTIST CHURCH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2021

14 Fixed asset investments

Cost or valuation
At 1 December 2020
Fair value movement
Disposals
At 30 November 2021
Carrying amount
At 30 November 2021
At 30 November 2020
All investments are carried at fair value.
15
Debtors
Amounts falling due within one year:
Other debtors
Prepayments and accrued income
16
Current asset investments
Short term deposits with the Baptist Union Corporation
17
Creditors: amounts falling due within one year
Other taxation and social security
Trade creditors
Accruals and deferred income		 Listed
investments
£
60,311
6,226
(1,160)
65,377
65,377
60,311
2021
2020
£
£
1,539
3,667
9,386
9,254
10,925
12,921
2021
2020
£
£
188,453
186,584
2021
2020
£
£
381
381
5,264
1,961
8,413
8,044
14,058
10,386

Accruals include an amount for grants payable of £1,278 (2020: £1,361).

TRUSTEES OF FULLER BAPTIST CHURCH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2021

18
Provisions for liabilities
Defined benefit pension scheme liability
Movements on provisions:
At 1 December 2020
Re-measurement of provision
Unwinding of discount
Other movements
At 30 November 2021		 2021
2020
£
£
21,700
24,090
Defined
benefit
pension
scheme
liability
£
24,090
1,641
340
(4,371)
21,700

The liability represents the estimated present value of deficit contributions to the Baptist Pension Scheme agreed at 30 November 2021.

Other movements comprise deficiency contributions paid (£4,371) (2020: (£3,543), finance cost £340 (2020: £190) and actuarial losses/(gains) on re-measurement of liability £1,641 (2020: (£14,062)).

19 Retirement benefit schemes

Defined contribution schemes

The Trust operates a defined contribution pension scheme for all qualifying employees.

The charge to profit or loss in respect of defined contribution schemes was £3,961 (2020: £3,768).

TRUSTEES OF FULLER BAPTIST CHURCH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2021

19 Retirement benefit schemes

(Continued)

Defined benefit schemes

The Church is a participating employer in the Baptist Pension Scheme (“the Scheme”) , which is a separate legal entity which is administered by the Pension Trustee (Baptist Pension Trust Limited). The assets of the Scheme are held separately from those of the employer and other participating employers.

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. Prior to this date the main benefit provided through the Defined Benefit (DB) Plan was a 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.

From January 2012, pension provision is being 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 which are operated and managed on behalf of the Pension Trustee by Broadstone Corporate Benefits Limited. In addition, the employer pays a further 4% of Pensionable Income to cover Death in Service Benefits, administration costs and an associated insurance policy which provides income protection for Scheme members if 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 Limited . Members of the Basic Section pay reduced contributions of 5% of pensionable income, and their employers also pay a total of 5%.

The Scheme is considered to be a multi-employer scheme as described in Section 28 of FRS 102. Because it is not possible to attribute the Scheme's assets and liabilities to specific employers, the Scheme is accounted for as if the Scheme were a defined contribution scheme.

The Ministers are eligible to join the Scheme.

Actuarial valuation as at 31 December 2019

A formal valuation of the DB Plan as at 31 December 201 9 was carried out by a professionally qualified Actuary using the Projected Unit Method. At the valuation date, t he market value of the DB Plan assets was £2 98 million , whilst the level of assets needed to pay benefits was £316 million, giving a deficit of £ 18 million (equivalent to a past service funding level of 94 %). The Church and the other participating employers in the DB Plan are collectively responsible for funding this deficit.

The key financial assumptions underlying the valuations were as follows:

Type of a ssumption % p.a.
RPI price inflation assumption 3. 2 0
CPI price inflation assumption 2.7 0
Minimum Pensionable Income I ncrease Adjustment ( above CPI ) 0 . 50
Pre retirement as sum ed investment returns (gilt yield plus 1.75% pa) 2.95
Post retirement as sum ed investment returns (including
benefits matched by the insurance policy)(gilt yield plus 0.5% pa)
Minimum Pensionable Income increases (CPI plus 0.5%)		 1.70
1.70
3.20
3.203.20
Deferred pension increases (based on RPI
Pre April 2009
Post April 2009		 3. 20
2.50
3.20
2.50
Pension increases 2.70
Based on CPI with an annual floor of 0% and annual cap of 5% 2.70
2.70
- 23 -

TRUSTEES OF FULLER BAPTIST CHURCH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2021

19 Retirement benefit schemes

(Continued)

Mortality is assumed in accordance with 80% of the S3NA standard mortality table. Future improvements are projected from 2013 in line with the 'CMI 2019' projection with a long-term rate of 1.75% p. a. for males and 1.5% p.a. for females with the core smoothing parameter and with additional initial mortality improvement factor A=0.5%.

The next actuarial valuation of the DB Plan within the Scheme is due to take place not later than as at 31 December 20 22 .

Recovery Plan

In addition to the contributions to the DC Plan set out above, where a valuation of the DB Plan reveals a deficit, the Trustee and the Council agree to a rate of deficiency contributions from churches and other employers involved in the DB Plan.

Under the current Recovery Plan signed in September 2020, deficiency contributions are payable until June 2026. These contributions are broadly based on the employer's membership at 31 December 2014 and increase annually in line with increases to Minimum Pensionable Income as defined in the Rules.

Movement in Balance Sheet liability

FRS 102 requires agreed deficit recovery payments to be recognised as a liability. Details of the movement in provision are set out in note 18 to the financial statements.

The Church has been advised that the cost for the Church to buyout their Pension Scheme liabilities at 30 November 2021 was approximately £38,700 (2020: £50,800).

TRUSTEES OF FULLER BAPTIST CHURCH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 30 NOVEMBER 2021

20 Endowment funds

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

Balance at
1 December
2019

£
Permanent endowments
Benevolent Fund
4,626
Bethany Home
Fund
6,815
General Fund
130,973
Major Repairs
Fund
3,440
Sunday School
Fund
2,448
Other
endowment
funds
2,318
150,620		 Movement in funds
Incoming
resources
Resources
expended
Transfers Revaluations
gains and
losses
Balance at
1 December
2020

£
£
£
£
£
-
-
-
-
4,626
-
-
-
-
6,815
-
-
-
(11,404)
119,569
-
-
-
-
3,440
-
-
-
-
2,448
-
-
-
-
2,318
-
-
-
(11,404)
139,216		 Movement in funds
Incoming
resources
Resources
expended
Transfers Revaluations
gains and
losses
Balance at
30 November
2021
£
£
£
£
£
-
-
-
-
4,626
-
-
-
-
6,815
-
-
-
6,226
125,795
-
-
-
-
3,440
-
-
-
-
2,448
-
-
-
-
2,318
-
-
-
6,226
145,442

Other endowment funds totalling £2,318 at 30 November 2021 comprise Choir £179, Communion £224, Hymn and Bible £68, Institute £224, Ladies Guild £1,589 and Mens Fellowship £34.

TRUSTEES OF FULLER BAPTIST CHURCH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2021

21 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 December
2019
r
£
Banso Baptist Hospital Chaplaincy
605
Baptist Home Mission
-
BMS World Mission
-
Benevolent Fund
3,370
Chapel Redevelopment Fund
41,279
Music Fund (formerly Choir Fund)
6,231
Christian Aid
-
Communion Fund
446
Heritage Fund
1
Hymn Book and Bible Fund
123
Ladies Guild Fund
1,048
Miss Jessie White Legacy
56
Disaster Appeals
-
BMS birthday scheme
6
Other restricted funds
1,642
Newland Street development
1,285
Youth Ministry
50,000
106,092		 Movement in funds
Incoming
esources
Resources
expended
£
£
3
(605)
3,330
(4,632)
6,375
(6,308)
21
(100)
212
-
32
-
150
-
2
-
111
(113)
1
-
5
-
-
-
1,260
(1,260)
455
(446)
2,182
(3,909)
382
-
256
-
14,777
(17,373)		 Transfers
Balance at
1 December
2020

£
£
-
3
1,361
59
-
67
-
3,291
-
41,491
-
6,263
-
150
-
448
1
-
-
124
-
1,053
-
56
-
-
-
15
257
172
-
1,667
-
50,256
1,619
105,115		 Movement in funds
Incoming
resources
Resources
expended
£
£
312
(2,112)
4,509
(2,137)
3,336
(1,622)
-
-
58
-
7
-
767
(2,567)
1
-
-
-
-
-
1
-
-
-
-
-
893
(456)
2,625
(2,125)
213
-
58
(4,577)
12,780
(15,596)		 Transfers
Balance at
30 November
2021
£
£
1,800
3
-
2,431
-
1,781
-
3,291
-
41,549
(3,298)
2,972
1,800
150
-
449
-
-
-
124
-
1,054
-
56
-
-
-
452
-
672
-
1,880
-
45,737
302
102,601

TRUSTEES OF FULLER BAPTIST CHURCH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 30 NOVEMBER 2021

21 Restricted funds

(Continued)

The main restricted funds are as follows:

Other restricted fund balances totalling £672 at 30 November 2021 comprise Emergency repairs £500, Banso Hospital £2 and Mens Fellowship £170.

TRUSTEES OF FULLER BAPTIST CHURCH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2021

22 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
Balance at
1 December
2019
Incoming
resources
Resources
expended
Balance at
1 December
2020

£
£
£
£
Craft Time
4,409
903
(800)
4,512
Deferred Depreciation Fund
30,030
-
(10,403)
19,627
Dorcas Fund
82
1
(83)
-
Major Repairs Fund
22,918
118
-
23,036
Ministerial Students' Training Fund
1,879
10
-
1,889
Noah's Ark Funds
1,223
327
(109)
1,441
Model Railway Fund
206
-
-
206
Youth Club
401
126
(105)
422
New designated funds
-
-
-
-
61,148
1,485
(11,500)
51,133		 Movement in funds
Incoming
resources
Resources
expended
£
£
-
-
-
-
-
-
27
(10,315)
1
-
69
(60)
-
-
71
(58)
5,000
(8,954)
5,168
(19,387)		 Transfers
Balance at
30 November
2021
£
£
-
4,512
(19,627)
-
-
-
26,964
39,712
-
1,890
-
1,450
-
206
-
435
207,362
203,408
214,699
251,613

TRUSTEES OF FULLER BAPTIST CHURCH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 30 NOVEMBER 2021

22 Designated funds

(Continued)

Full details of movements on designated funds are provided in Appendix 1 to the financial statements.

Transfers of £234,326 were made in the year from unrestricted funds to designated funds in respect of amounts designated. £19,627 was released back to unrestricted funds.

Designated funds at 1 December 2020 included:

New designated funds include:

TRUSTEES OF FULLER BAPTIST CHURCH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2021

23
Analysis of net assets between funds
Unrestricted
funds
Restricted
funds
Endowment
funds
2021
2021
2021
£
£
£
Fund balances at 30 November 2021 are
represented by:
Tangible assets
1,118,079
-
67,795
Investment properties
10,000
-
-
Investments
-
-
65,377
Current assets/(liabilities)
457,264
102,601
12,270
Provisions
(21,700)
-
-
1,563,643
102,601
145,442		 TotalUnrestricted
funds
2021
2020
£
£
1,185,874
1,113,083
10,000
10,000
65,377
1,160
572,135
466,808
(21,700)
(24,090)
1,811,686
1,566,961		 Restricted
funds
Endowment
funds
2020
2020
£
£
-
67,795
-
-
-
59,151
105,115
12,270
-
-
105,115
139,216		 Total
2020
£
1,180,878
10,000
60,311
584,193
(24,090)
1,811,292

TRUSTEES OF FULLER BAPTIST CHURCH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2021

24 Related party transactions

Transactions with related parties

During the year the Trust entered into the following transactions with related parties:

One of the custodian trustees of the Church is the Baptist Union Corporation Limited which is charity number 249635, and which is controlled by the Baptist Union Council. The Church is also a member of the Baptist Union of Great Britain and the Central Baptist Association.

During the year the Church made donations of £3,415 (2020: £4,632) to the Baptist Home Mission fund.

The Church's investments include short term deposits, totalling £188,453 (2020: £186,584), invested with the Baptist Union Corporation Limited on commercial normal terms.

The trustees make regular donations to the Church by contributing to collections. The aggregate donations of this type cannot be measured with certainty due to their nature.