2021-12-31-accounts - Wycliffe Baptist Church

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Objective	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 Spirit	empowered by the Holy Spirit
Christ	Personal conversion	We will be a church which responds to God's call for life-long,
	and wholeheaded	holy, and obedient living, and which delights in worship and
	discipleship	prayer.
	The pnesfhood ofall	We will be a training church where everyone recognises their
	believers	gifts to equip and encourage others in works ofservice.
LOVE Church	Unity and diversify	We will be an intergenerational, international, interdependent 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 proclaiming 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	forthe	year ended	31 Decembe	r 2021
	Note	Unrestricted	Designated	Restricted	Total 2021	Total 2020
Income and endowments
Donations and legacies	2	426,812		27,694	454,506	483,265
Investment income	3	1,200			1,201	1,567
income from charitable activities	4	10,463		15,896	26,359	10,552
Other income	5	77,119			77,119	79,588
Total income and endowments		515,594	1	43,590	559,185	574,972
2020 Income		548,197	514	26,151		574,972
Expenditure
Expenditure on charitable activities	6	515,351	572	42,696	558,619	519,881
Total expenditure		515,351	572	42,696	558,619	519,881
2020 Expenditure		487,505	7,595	24,781		519,881
Net income I(expenditure)		243	(571)	894	566	55,091
Transfers between funds	0,0	(3,185)		3,165
Net movement in funds		(2,942)	(571)	4,079	566	55,091
2020 Net Movement		47,475	3,986	3,830		55,091
Reconciliation ofFunds
Total funds brought forward		953,229	132,349	169,563	1,255,141	1,200,050
Total funds carried forward	16	950,287	131,778	173,642	1,255,707	1,255,141

31December 20	21
			Note	Unrestricted	Designated	Restricted	Total 2021	Total 2020
Tangible Fixed Assets			11	850,501		121,000	971,501	970,348
Current Assets
Stock
Debtors			12	18,037	1,250	450	19,737	19,847
Bank and Cash			13	354,002	130,528	54,356	538,886	557,264
				372,039	131,778	54,806	558,623	577,111
Current Liabilities
Creditors: amounts within one year		falling due	14	(35,471)		(2,164)	(37,635)	(39,600)
Net Current Assets				336,568	131,778	52,642	520,988	537,511
Creditors: amounts after more than one		falling due year	15	(236,782)			(236,782)	(252,718)
Net Assets				950,287	131,778	173,642	1,255,?07	1,255,141
Charity Funds
Restricted	Funds		16			52,642	52,642	48,563
Designated	Funds		17		131,778		131,778	132,349
Unrestricted	Funds			367,370			367,370	385,764
Property Reserve				582,917		121,000	703,917	688,465
Total Funds			18	950,287	131,778	173,642	1,255,707	1,255,141

Statement ofCash Flows forthe ye	ar ended 31 December 20	21
		2021	2020
			6
Net cash provided by operating activities		7,611	75,934
Cash flows from investing activities:
Purchase ofproperty, plant &equipment		(2,460)
Cash flows from financing activities:
Cash inflow from new borrowings
Repayments ofborrowings		(23,529)	(23,529)
Change in cash and cash equivalents	in the year	(18,378)	82,405
Cash at bank and in hand at start ofyear		557,264	504,859
Cash at bank and in hand at end ofyear		538,886	557,264
increase / (decrease) in cash		(18,378)	52,405

Reconciliatio	n of	net	ca	sh provided by op	erating activities
						2021	2020
							8
Net income I	(expenditure)			as per SOFA			55,091
Adjustments	for:
Depreciation						1,307	2,803
Loan interest						8,077	8,902
(Increase) I	decrease		in	debtors		110	17,433
increase I(decrease)			in	creditors (excluding	loans)	(2,449)	(8,295)
Net cash provided		by	I (used in) operating		activities	7,811	75,934

3. INVESTMENT INCOME
	Unrestricted 6	Designated f		Restricted 6	Total 2021 6	Total 2020 6
Bank interest	1,200				1,201	1,567
Total	1,200				1,201	1,567
2020 Interest	1,553		14		1,55T
4. INCOINE FROM CHARITABLE ACTIVITIES
	Unrestricted 6	Designated 6		Restricted 6	Total 2021 6	Total 2020 6
On-site activities	10,463			9,742	20,205	8,669
Weekend Away Trips and camps				6,154	6,154	1,863
Total	10,463			15,896	26,359	10,552
2020 Income	4,172			6,380		10,552
5. OTHER INCOME
	Unrestricted 6	Designated 6		Restricted 6	Total 2021 6	Total 2020 6
Use of Premises	19,16'I				19,161	26,465
Flat rents	51,700				51,700	51,354
Other Income	6,258				6,258	1,769
Total	77,119				77,119	79,588
2020 Income	79,588					79,588
6. EXPENDITURE ON CHARITABLE ACTIVITIES

6. EXPEND	ITURE ON CHARITABLE	ACTIVITIES
		Unrsstncisd 6	Designated 6	Restricted 6	Total 2021 6	Total 2020 R
Ministry		195,925	89	1,976	197,990	268,009
Local mission		9,856		26,033	35,889	4,940
Establishment		187,823	44	8,426	196,293	117,591
Weekend Away
Governance	Costs	1,500			1,500	1,230
Grants Payable (see Note 7'I		120,247	439	6,261	126,947	128,111
Total		515,351	572	42,696	558,619	519,881
2020 Expenditure		487,505	7,595	24,781		519,881

7. GRANTS PAYABLE
		Unrestricted 8	Designated 8	Restricted 8	Total 2021	Total 2020 8
In respect ofspecific individuals	supported
by WBC
WEC Intemationale		15,933		100	16,033	15,608
Wycliffe Bible Translatorse		18,231		600	18,831	18,170
Interservee		11,460		700	12,160	18,074
Friends Internationale		12,602			12,602	8,933
iNete		20,913		200	21,113	13,658
Rising Brook s		6,473		100	6,573	6,243
Other payments to specific missionaries		3,724		2,911	6,635	7,675
In respect ofother organisations	supported
by WBC
CommuniCare		10,000			10,000	10,000
BUGS Home Mission Fund		7,185			7,185	7,185
Reading Schools Worker		3,000			3,000	3,000
UCCF		2,250			2,250	2,375
Yeldall Manor		1,150			1,150	6,150
RE Inspired		3,500			3,500	3,500
Reading Street Pastors		1,000			1,000	1,000
Persecuted Christians						5,000
Afghanistan Crisis Appeal		610			610
Other charitable gifts		2,216	439	1,650	4,305	1,540
Total		120,247	439	8,261	126,947	128,111
2020 Grants Payable		117,890	7,410	2,811		128,111

8. NET INCONIE FOR THE YEAR	8. NET INCONIE FOR THE YEAR
Net income for the year is stated after charging/(crediting):		2021 8	2028 E
Independent examination	Fee	1,500	1,230
9. STAFF COSTS AND	TRUSTEES EXPENSES
		2821	2020
		8	8
Salaries		263,159	208,727
Social security costs		17,410	12,518
Pension costs		19,599	16,806
Other staff costs		247	209
Total		300,415	238,280

Three	trustees are employees	trustees are employees	ofthe church	—Paul Lapworth	as Lead	Pastor,	Jane Farnworth	as Children' s, Youth
and Families Pastor,		and Stewart Johnston		as Operations	Manager.	Their employment oosts		for these roles are
shown	in the table below:
			Salary	Employer Pension		Total	Total 2020
				Costs
			8's	8's
Employees
Paul	Lapworth		46,309	2,315		48,624	35,464
Jane	Farnworth		37,155	3,715		40,870	40,040
Stewart Johnston			32,695	3,661		36,356	35,691
Total			118,159	9,691		125,850	111,195

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

2021	2020
8
5,597	5,418
14,140	14429
18,737	19,847
2021	2020
8	E
506,700	525,729
32,186	31,535
538,888	887,284

			2021	2020
			8
Creditors Accruals			4,746	8,321
Loans from Church members			10,000	10,000
Baptist Union	Corporation		15,902	15,418
Tax and NIC			5,787	4,661
independent	Examination	Fee	1,200	1,200
Total			37,835	38,800
15.CREDITORS: AMOUNTS FALLING DUE AFTER ONE YEAR
			2021	2020
			E
Baptist Union	Corporation	(later than 1 year and not later than 5years)	61,400	61,686
Baptist Union	Corporation	(later than 5years)	175,382	191,030
Total			238,782	252,718

18.ANALYSIS OF FUNDS AT31ST	DECEMBER 2021
	Unrestricted 6	Designated 6	Restricted 6	2021 6	2020 6
Unrestricted reserves	367,370			367,370	385,764
Youth and Kids Camp Foodshare			8,744 9,487	8,744 9,487	7,676 7,038
Hardship Associated organisations Building 8 equipment fund Mission funds		50,000 28,849	1,050 32,424 937	1,050 32,424 50,937 28,849	1,050 31,862 50,937 29,420
Sabbatical 5new 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	36?,370	131,778	52,642	551,790	566,676
Property reserve	582,917		121,000	703,917	688,465
Totalfunds	950,287	131,778	173,642	1,255,707	1,255,141

of94%).The Church and othe deficit.	r participating employer	r participating employer	s in the DB Plan	are co
The key financial assumptions Type of assumption RPI price inflation assumption	underlying the valuation		were as follows:	%pa 3.20
CPI price inflation assumption Minimum Pensionable Income	increases Adjustment	(above DPI)		2.70 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) Minimum Pensionable Income increases (CPI plus 0.5%)				1.70 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

The total pension cost recognised in t	he Statement of Finan	cial Activities isas follo	ws.
			2021	2020
			8
Defined contribution plan: Current period contributions			6,778	5,727
Multi-employer defined benefit plan: Deficiency contribution in respect of prior service period (The Baptist Pension Scheme reduced the deficit payment		by 50% for6	4,349	3,206
Months in 2020 to assist churches	in the Covid pandemic)
Total			11,127	8,833