#
##
##
##
##
##
##
##
##
||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|