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|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)||
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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,|
||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.|
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|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|
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|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||
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|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|
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|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|
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|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||
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|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|
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|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|
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|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|
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|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|
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