2020-12-31-accounts

	Core Values	Outworking
	The supremacy ofthe	We will be a church which is rooted in God's read and
	Bible and the work of	preached word for guidance and direction, and led and
LOVE	the Holy Splnt	empowered by the Holy Spirit
Christ	Personal conversion	We will be a church which responds to God's call for life-long,
	and wholehearted	holy, and obedient living, and which delights in worship	and
	discfpleship	prayer.
	The priesthood ofall	We will be a training church where everyone recognises	their
	believers	gifts to equip and encourage others in works ofservice.
LOVE
Church		We will be an intergenerational, international, interdependent
	Unity and diversity	church family, where we care for, affirm and support each other through life's circumstances and learn from each other
		how to follow Jesus.
LOVE	Evangelism and social action	We will be a multiplying, church-planting family that brings transforming hope to local communities by prodaiming the Gospel ofJesus Christ and living out our faith in action.
Community		We will be collaborative, working together with other churches
	Reaching the nations	and believers to build God's Kingdom in Reading, in Britain
		and around the world.

Statement ofFinancial Activities	for the	year ended	31 Decembe	r 2020
	Note	Unrestricted	Designated	Restricted	Total 2020	Total 2019
Income and endowments
Donations and legacies	2	462,884	600	19,781	483,265	467,120
Investment income	3	1,553	14		1,567	1,876
Income from charitable activities	4	4,172		6,380	10,552	46,572
Other income	5	79,588			79,588	107,224
Total income and endowments		548,197	614	26,161	574,972	622,792
2019Income		555,193	20,575	47,024		622,792
Expenditure
Expenditure on charitable activities	6	487,505	7,595	24,781	519,881	546,020
Total expenditure		487,505	7,595	24,781	519,881	546,020
2019Expenditure		488,789	19,868	37,353		546,020
Net income I(expenditure)		60,692	(6,981)	1,380	55,091	78,772
Transfers between funds	15,17	(13,217)	10,967	2,250
Net movement in funds		47,475	3,986	3,630	55,091	76,772
2019Net Movement		17,392	52,323	7,057		76,772
Reconciliation ofFunds
Total funds brought forward		905,754	128,363	165,933	1,200,050	1,123,278
Total funds carried forward	18	953,229	132,349	169,563	1,255,141	1,200,050

31 Dec	ember 2020
			Note	Unrestricted	Designated	Restricted	Total 2020	Total 2019
Tangible Fixed Assets			11	849,348		121,000	970,348	973,151
Current	Assets
	Stock
	Debtors		12	19,775		72	19,847	37,280
	Bank and Cash		13	376,274	132,499	48,491	557,264	504,859
				396,049	132,499	48,563	577,111	542,139
Current	Liabilities
	Creditors: amounts within one year	falkng due	14	(39,450)	(150)		(39,600)	(45,626)
Net Current Assets				356,599	132,349	48,563	537,511	496,513
	Creditors: amounts after more than one	falling due year	15	(252,718)			(252,718)	(269,614)
Net Assets				953,229	132,349	169,563	1,255,141	1,200,050
Charity	Funds
	Restricted Funds		16			48,563	48,563	44,933
	Designated Funds		17		132,349		132,349	128,363
	Unrestricted Funds			385,764			385,764	352,916
	Property Reserve			567,465		121,000	688,465	673,838
Total Funds				953,229	132,349	169,563	1,255,141	1,200,050

		2020	2019
			8
Net cash provided by operating activities		75,934	103,879
Cash flows from investing activities.
Purchase ofproperty, plant &equipment			(2,833)
Cash flows from financing activities:
Cash inflow from new borrowings
Repayments ofborrowings		(23,529)	(23,530)
Change in cash and cash equivalents	in the year	52,405	77,516
Cash at bank and in hand at start ofyear		504,859	427,343
Cash st bank and in hand at end of year		557,264	504,859
Increase /(decrease) in cash		52,405	77,518

			2020	2019
			5
Net income I(expenditure} as per SOFA			55,091	76,772
Adjustments for:
Depreciation			2,803	3.113
Loan interest (Increase) Idecrease	in debtors		8,902 17,433	10,853 12,489
Increase I(decrease)	in creditors (excluding	loans)	(8,295)	652
Net cash provided by	/ (used in) operating	activities	75,934	103,879

3. I	NVESTNI	ENT INCONIE
			Unrestricted	Designated	Restricted	Total 2020	Total 2019
			E	E	E	E	E
Bank	interest		1,553	14		1,567	1,876
Total			1,553			1,567	1,876
	2019	Interest	276	1,600			I,876

4. INCONIE FROIN CHARITABLE	ACTIVITIES
	Unrestricted	Designated	Restricted	Total 2020	Total 2019
	E	E	E.	E	E
On-site activities	2,424		6,265	8,689	28,615
Weekend Away					2,322
Trips and camps	1,746		115	1,863	15,635
Total	4,172		6,380	10,552	46,572
2019Income	14,671		31,901		46,572
5. OTHER INCOME
	Unrestricted	Designated	Restricted	Total 2020	Total 2019
	E	E	E	E	E
Use ofPremises	26,465			26,465	58,807
Flat rents	51,354			51,354	46,195
Other income	1,769			1,769	3,222
Total	7$,588			79,588	107,224
2019Income	1Q7,224				107,224

6. EXPEND	ITURE ON CHARITABLE	ACTIVITIES
		Unrestricted	Designated	Restricted	Total 2020	Total 2019
		E	E	E	E	E
Ministry		247,461	165	20,363	268,009	265,516
Local mission		3,763		1,177	4,940	11,680
Establishment		117,161		430	117,591	142,600
Weekend Away						3,035
Governance	Costs	1,230			1,230	1,170
Grants Payable (see Note 7)		117,890	7,410	2,611	128,111	122,019
Total		487,505	7,595	24,781	51$,881	546,020
2019Expenditure		4ee,7ee	fe,ese	37,363		545,Q2Q

7. GRANTS PAYA	BLE
				Unrestricted 8	Designated	Restricted	Total 2020 8	Total 2019 f
In respect ofspecific individuals			supported
by WBC
WEC Intemationale				15,608			15,608	21,242
Wycliffe Bible Translatorss				16,954	1,216		18,170	16,689
Interserve'				17,474	600		18,074	13,692
Friends Intemationale				8,933			8,933	9,603
iNets				13,658			13,658	9,169
Rising Brook 4				6,243			6,243
Other payments to specific missionaries					4,864	2,811	7,675	5,361
In respect ofother organisations			supported
by WBC
CommuniCare				10000			10,000	10,000
BUGB Home Mission	Fund			7,185			7,185	7,185
Reading Schools Worker				3,000			3,000	4,350
UCCF				1,875	500		2,375	2,256
Yeldall Manor				6,150			6,150	2,660
RE Inspired				3,500			3,500	4,000
Reading Street Pastors				1,000			1,000	1,000
Persecuted Christians				5,000			5,000
Shinffield Baptist Church								4,000
Wycliffe Bible Transistors								5,000
Trusts in Partnership	(Authentic	Lives)						4,000
Other charitable gifts				1,310	230		1,540	1,812
Total				117,890	7,410	2,811	128,111	122,019
2019Grants Payable				100,025	19,183	2,811		122,019

Wycliffe Baptist Church	Wycliffe Baptist Church	accounts and cash
Associated	organisation	accounts and cash
Total

2020	2019
5	6
5,418	8,873
14,429	28407
19,847	37,280
2020	2019
6	6
525,729	468,719
31,535	36,140
557,264	504,859

14.CREDIT	ORS: AINOU	NTS FALLING DUE WITHIN ONE	YEAR
			2020	201$
				6
Creditors Accruals			8,321	17,872
Loans from Church members			10,000	10,000
Baptist Union	Corporation		15,418	13,149
Tax and NIC			4,661	3,405
Independent	Examination	Fee	1,200	1,200
Total			39,600	45,626

15.CR	EDIT	ORS: AMOU	NTS F	ALLI	N	G DUE AFTER ONE YEAR
							2020	2019
							6	5
Baptist	Union	Corporation	(later	than	1	year and not later than 5years)	61,688	57,810
Baptist	Union	Corporation	(later	than	5	years)	191,030	211,804
Total							252,718	26$,614

18.ANALYSIS OF F	UNDS AT 31ST	DECEMBER 2020
		Unrestricted f	Designated f	Restricted	2020f	2019 f
Unrestricted reserves		385,754			385,764	352,916
Youth and Kidz Camp				7,876	7,678	10,581
Foodshare				7,038	7,038
Hardship				1,050	1,050
Associated organisations				31,862	31,882	33,415
Building &equipment	fund		50,000	937	50,937	50,937
Mission funds			29,420		29,420	25,434
Sabbatical &new staff fund			23,009		23,009	23,009
Refurbishment reserve			29,920		29,920	29,920
Refurbishment fund
Manse fund
Gifts for specific causes
Total excluding premises		385,764	132,349	48,563	566,676	526,212
Property reserve		567,465		121,000	688,465	673,838
Total funds		953,229	132,349	169,563	1,255,141	1,200,050

The key financial assumptions	underlying the valuation	underlying the valuation	underlying the valuation	underlying the valuation	were as follows:
Type ofassumption						%pa
RPI price inflation assumption						3.20
CPI pnce inflation assumption						2.70
Minimum Pensionable Income	increases Adjustment			(above CPI}		0.50
Pre-retirement assumed investment		returns	(gilt yield		plus 1,75%pa)	2.95
Post retirement assumed investment		returns	(including		benefits
matched by the insurance policy) (gilt yield			plus 0.55)			1.70
Minimum Pensionable Income	increases (CPI plus 0.5%)					3.20
Deferred pension increases
- Pre April 2009						3.20
-Post April 2009						2.50
Pension increases
-Based on CPI with an annual	floor	of0%and annual			cap of5%	2.70

			2020	2018
Defined contribution plan:
Current period contributions			5,727	4,539
Multi-employer defined benefit plan.
Deficiency contribution in respect of prior service period			3,206	4,181
(the Baptist Pension Scheme reduced the deficit payment		by 50yo for6
Months in 2020 to assist churches	in the Covid pandemic)
Total			8,833	8,720