2022-12-31-accounts

Since 1 January 20	22, the Church Trustees co	mprised:
Paul Lapworth	Lead Pastor
Jane Farnworth	Associate Pastor
Jackie Mann	Associate Pastor (appointed: 09.01.2023)
Esnat Tembo	Elder
Nigel Herman	Elder (Chair ofTrustees	until: 04.05.2023)
Chris Darby	Elder
Lis Hearn	Elder (resigned 14.2.2022)
Graeme Fairbaim	Elder
Alan Tower	Elder (Chair ofTrustees	from: 04.05.2023)
Henry Bui	Elder
Rhona Goveia	Elder
John Leery	Elder (resigned: 13.11.2022)
Stuart Weekes	Treasurer (appointed: 23.02.2023)

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,
	snd wholehearted		holy, and obedient living, and which delights in worship and
			prayer.
	The priesthood ofell believers		We will bea training church where everyone recognises their gifts to equip snd encourage others in works ofservice.
LOVE Church	Unity end diversity		We will be an intergenerational, international, interdependent church family, where we care for, affirm, and support each other through life's circumstances and leam fiom each other
			how to follow Jesus.
LOVE	Evangelism snd social action		We will bea 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	for the	year ended	31Decembe	r 2022
	Note	Unrestricted	Designated	Restricted		Total 2022	Total 2021
income and endowments
Donations, grants and legacies	2	450,884	200	100,536		551,620	454,506
Investment income	3	5,959	13			5,972	1,201
Income from charitable activities	4	10,031		33,714		43,745	26,359
Other income	5	101,250				101,250	TT,119
Total income and endowments		588,124	213	134,250		702,58T	559.185
2021Income		515,594	1	43,590			559,165
Expenditure
Expenditure on charitable ac5vities	6	557,535		111,759		669,294	558,619
Total expenditure		557,535		111,759		669,294	558,619
2021 Expenditure		515,351	572	42,696
Net income I(expenditure)		10,589	213	22,491		33,293	566
Transfers between funds		3,111	7,123	(10,234)
Net movement in funds		13,700	7,336	12„257	i	~me 33,293
2021 Net Movement		(2,942)	(571)	4,079			566
Reconciiistion ofFunds
Total funds brought forward		950,287	131,778	173,642		1,255,707	1,255,141
Total funds carried forward	18	963,987	139,114	185,899		1,289,000	1,255,707

Tangible Fixed Assets	Tangible Fixed Assets	Tangible Fixed Assets		11	867,229		121,000	988,229	971,501
Current	Assela
	Stock
	Deblors			12	39,488	1,250	1,689	42,427	19,737
	Bank and	Cash		13	324,245	137,864	92,624	554,733	538,886
					363,733	139,114	94,313	597,160	558,623
Current	LiabiliTies
	Creditonx within one	amounts year	falling due	14	(40,822)		(29,414)	(70,236)	(37,635)
Net Current Assets					322,911	139,114	64,899	526,924	520,988
	Creditors: atter more	amounts than one	falling due year	15	(226,153)			(226,153)	(236,782)	~ i
Net Assets					963,987	139,114	185,899	1,289,000	'l,255,707
Charity	Funds
	Restricted	Funds					64,899	64,899	52,642
	Designated	Funds		17		139,114		139,114	131,778
	Unrestricted	Funds			357,500			357,500	367,370
	Property Reserve				606,487		121,000	727,487	703,917
Toial Funds				'l8	963,987	139,114	185,8SS	1,28S„OOO	1,255,707

Statement ofCash Fl	ows forthe	year	ended	31December 2022
					2022	2021
					5	8
Net cash provided by operating activities					58,620	7,611
Cash flows from investing	activities:
Purchase ofproperty, plant &equipment					(18,527)	(2,460)
Cash flows from financing	activities:
Cash inflow from new borrowings
Repayments ofborrowings					(24,247)	(23,529)
Change in cash and cash equivalents		in the year			15,847	(18,378)i
Cash at bank and in hand	at start ofyear				538,886	557,264
Cash at bank and in hand	at end ofyear				554,733	538,886
Increase I(decrease) in	cash				15,847	(18,378)
Reconciliation ofnet cash provided		by operating		activities
					20226~	2021 8
Net income i(expenditure)	as per SOFA				33,293	566
						(
Adjustments for:
Depredation					1,799	1,307 '
Loan interest (Increase) idecrease in	debtors				10,906 (22,690)	8,077 110,
Increase l(decrease) in	creditors (excluding		loans)		35,312	(2,449)i
Net cash provided by I(used in}operating			activities		58,620	7,611

4. INCOME FROM CHARITABL	E ACTIVITIES
	Unrestricted	Designated	Restricted	Total 2022	Total 2021
			E	E	E
On-site activities	4,413		33,714	38,127	20,205
Weekend Away Trips and camps	5,618			5,618
Total	10,031		33,714	43,745	26,359
2021 Income	10,453		15,896		26,359

5. OTHER INCOME
	Unrestricted	Designated	Restricted	Total2022	Total 2021
	E	E	E	E	E
Use ofPremises	40,250			40,250	19,161
Flat rents	53,348			53,348	51,700
Other Income	7,652			7,652	6,258
Total	101,250			101,250	77,1'l9)
2021 Income	77,119				77,119

6. EXPEND	ITURE ON CHARITABLE	ACTIVITIES
		Unrestricted	Designated	Restricted	Total 2022	' Totai 2021
		E	E	E
Ministry Local mission		214,596 20,442		6,154 101,322	220,750 121,764	197,990 35,889
Establishment		207,753		66	207,819	196,293
Weekend Away
Governance	Costs	2,250		450	2,700	1,500
Grants Payable (see Note 7)		112,494		3,767	1 16,261	126,947
Total		557,535		111,759	669,294	558,619	'
2021 Expenditure		515,351	572	42,696		558,559

7. GRANTS P	AYABLE
			Unrestdcted	Designated	Restricted	Total 2022	Total 2021
			E	E	E		k
In respect ofspecific individuals		supported
by WBC
WEC International'			14,484		125	14,609	16,033
Wycliffe Bible Translatorsr			15,874		125	15,999	18,831
Interserve4			9,657		200	9,857	12,160
Friends international'			10,312			10,312	12,602
INetr Rising Brook "			21,531 6,523		125 125	21,656 6,648	21,113 6,573
Other payments	to speclfic missionaries		4,270		2,620	6,890	6,635
In respect ofother organisations		supported
by WBC
CommuniCare			5,500			5,500	10,000
WyclMe Baptist	Church		Page 14of	22		Charity	No. 1135617

18.ANALYSIS OF F	UNDS AT31ST	DECEMBER 2022
		Unrestricted f	Designated f	Restricted f	2022f	2021f
Unrestdcted reserves		357,500			357,500	367,370
Youth and Kids Camp				11,514	11,514	8,744
Foodshare				20,671	20,671	9,487
Hardship				8,464	8,464	1,050
Associated organisations				23,313	23,313	32,424
Building &equipment	fund		50,000	937	50,937	50,937
Mission funds			35,985		35,985	28,849
Sabbatical 5 new staff fund			23,009		23,009	23,009
Refurbishment reserve			30,120		30,120	29,920
Refurbishment fund
Manse fund
Gifts for specific causes
Total excluding premises		357,5DD	139,114	64,S99	561,513	551,790
Property reserve		606,487		'l2'l,000	727,487	703,917
Total funds		963,987	13S,114	185,899	1,289,000	1,255,707

DS Plan are collectively respon	sible for funding this d	sible for funding this d	sible for funding this d	eficit
The key financial assumptions	underlying the valuation			were as follows:
Type ofassumption RPI price inflation assumption					%pa 3.20
CPI price 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) {giltyield 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

each participatin	g empl	oyer in the DBPlan reduced to F1 per month from	August 2022.
			2022	2021
			6	6
Delined contribution plan:
Current period	contributions		7,244	6,778
Multi-employer	defined	benefit plan:
Deficiency contribution		in respect ofprior service pediod	2,579	4,349
Total			9,823	11,127