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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.|
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|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|
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|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|
##
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|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|
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|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|
##
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|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||
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|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|
##
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|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|
##
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|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|
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