## **Trustees’ Annual Report for the period** **From: 1[st] October 2022 To: 30[th] September 2023** **Charity name: Strood Gospel Mission Church (SGMC)** ## **Charity registration number: 1137729** ## **Objectives and Activities** ||SORP reference|| |---|---|---| |Summary of the purposes of
the charity as set out in its
governing document|Para 1.17|**The principal purpose of the Church is**
**the advancement of the Christian faith.**
**SGMC may also advance education and**
**carry out other charitable purposes in**
**the UK and/or other parts of the world.**| |Summary of the main
activities in relation to those
purposes for the public
benefit, in particular, the
activities, projects or
services identified in the
accounts.|Para 1.17 and
1.19|**Regular public worship, prayer, bible**
**study, preaching, teaching and baptism.**
**Education and training for Christian and**
**community service. Giving and**
**encouraging pastoral care. Supporting**
**and encouraging social action.**
**Supporting and caring for the local**
**community.**| |Statement confirming
whether the trustees have
had regard to the guidance
issued by the Charity
Commission on public
benefit|Para 1.18|**The Trustees confirm that they have**
**complied with their duty to have due**
**regard to the Commission’s public**
**benefit guidance when exercising any**
**powers or duties to which the guidance**
**is relevant.**| ## **Achievements and Performance** ||SORP reference|| |---|---|---| |Summary of the main
achievements of the charity,
identifying the difference the
charity’s work has made to
the circumstances of its
beneficiaries and any wider
benefits to society as a
whole.|Para 1.20|**SGMC has continued to engage with the**
**local community in a safe, helpful and**
**encouraging way by running a myriad of**
**activities to help meet the needs of**
**people. Our “Grassroots” project, has**
**gone from strength to strength. It is a**
**clothing (and other small, non-electrical,**
**household items) project where items**
**are donated, and then made freely**
**available to anyone. Anyone can come**
**into the church building and take what**
**they need, for free. If they choose to**
**make a donation, these are collected**
**and 100% of these donations are then**
**given to local good causes, currently,**
**Gillingham Street Angels and**
**Wonderfully Made (a local charity**
**providing school uniforms to those**
**families in need). £583.62 in total was**
**donated to these two organisations in**
**the financial year, via members of the**
**community. SGMC covers all the costs**
**of operating the project. The project is**
**proving very beneficial - recycling**
**clothing and goods that might otherwise**
**go to landfill, which is helping people,**
**particularly young families starting off**
**in life, to obtain what they need in**
**difficult times with cost-of-living**
**pressures; and recycling all donations**
**to assist worthy local causes.**
**We also held our popular Christmas**
**Christingle and candle-lit Carol**
**Services, as well as an Easter Party, and**
**these were well supported by the**
**community. Our “Hope Hut”, which is a**
**converted wheelie bin store placed**
**outside the church building, is a**
**continuing talking point within the**
**community. The Hut has a display**
**inside with a perspective front and**
**lighting, and so the display is visible 24**
**hours a day, with arresting and**
**colourful tableaux regularly changed**
**through the year.**
**A new activity that commenced this year**
**was the Meal Club, which takes place**
**each Thursday afternoon at the Church.**
**This is a project we undertake, working**
**with volunteers from the Royal Mail as**
**well as food provided by Gillingham**
**Street Angels. The Club provides a free**
**hot meal to anyone that attends, and we**
**also open up Grassroots at the same**
**time to provide individuals with the**| **opportunity to choose any items that they might need. We have a good following amongst the homeless community, and the Club is also popular with young mums and children, as well as more elderly residents, as it provides much need social contact for those living alone. There are other activities for the community held in the church, almost every day of the week, including fun activities for young people (J Club/King’s Squad), a Parents and Toddlers group, a coffee morning (Coffee Stop), a Quilting Group for those that enjoy sewing, quilting, crochet, embroidery, and a Crafty Crafters group for those that enjoy all forms of craft, as well as a good natter! These are in addition to our Sunday services (which include a Sunday School and a Bible Class) as well as a number of informal small groups that meet at various times during the day and evening to suit different working schedules. A highlight of the year was another Street Party, which we held in Hone Street, just outside the church, to commemorate the new King’s Coronation. Free food and drinks were provided, as well as many activities, and fun and games. We invited the community to join us and were blessed with a beautiful day with many local residents joining over the day.** ## **Financial Review** |Review of the charity’s
financial position at the end
of the period|Para 1.21|**SGMC posted a surplus of £3,152.60 for**
**the financial year, compared to a deficit**
**of £4,983.03 for the previous financial**
**year. Total income increased by 23%,**
**compared to 2021/22, principally due to**
**the contribution received from Borstal**
**Baptist Church under a 3-Year**
**Secondment Agreement to second our**
**minister-in-training for one day a week.**
**Total expenditure also increased, by 7%,**
**primarily due general increases in costs**
**across most budget lines, as well as a**
**sharp increase in expenditure at our**
**manse, due to an unexpected gas leak,**
**as well as the discovery of damp and**
**repairs needed to the roof.**
**SGMC is the beneficial owner (subject to**
**the relevant trusts) of the church**
**building at Brompton Lane as well as**
**the Manse, the legal title to which is held**| |---|---|---| |||**by the Church’s custodian and holding**
**trustee, the Property Trustees. These**
**properties are together insured for**
**£1.89m.**
**The principal long-term liability of the**
**Church is its membership as a**
**participating employer of the Baptist**
**Pension Scheme, the Defined Benefit**
**Plan. At the last formal valuation of the**
**Plan in December 2019, there was a**
**deficit of £18m and the Church, and the**
**other participating employers in the DB**
**Plan, are collectively responsible for**
**funding this deficit. The Trustee of the**
**Scheme informed all churches in the**
**Scheme that an agreement had been**
**signed, on 30th June 2022, with the**
**insurance company Just Group, to**
**secure DB Plan members’ pension**
**benefits. Just Group are now providing**
**financial backing for all DB pensions**
**provided through the Scheme’s DB Plan,**
**and the transaction takes the Scheme**
**out of a shortfall position for the first**
**time in two decades. Because the Just**
**Group policies cover the overwhelming**
**majority of the DB Plan’s liabilities, the**
**risks to employers are substantially**
**reduced. The Trustee of the Scheme**
**and the Baptist Union expect the assets**
**of the DB Plan will be sufficient to cover**
**all the costs and liabilities that remain;**
**however, this is not certain until the**
**completion of the buy-out process**
**(which is the setting up of annuities for**
**each member of the DB Plan). In view of**
**this, deficit recovery contributions from**
**each participating employer have been**
**reduced, but will continue at a nominal**
**amount of £1 per month until**
**completion.**| |---|---|---| |Statement explaining the
policy for holding reserves
stating why they are held|Para 1.22|**When setting and/or reviewing the**
**appropriate level of reserves, the**
**Church takes into account the level of**
**funds required to cover immediate**
**commitments and planned expenditure,**
**as well as an analysis of future needs,**
**opportunities, contingencies and risks**
**that are not likely to be met out of**
**forecast income, and the consequences**
**of not being able to meet them. At just**
**over £116,000, the level of reserves**
**covers just over 22 months of current**
**expenditure, but expenditure will**
**increase from 2023/24, as we have made**
**the decision to appoint a full-time**
**minister from the 1st October 2023.**
**Given this, and in addition, given the**
**ages of the Church building and the**
**Manse, and the likely need of significant**| |||**maintenance expenditure over the**
**coming years, as well as the reliance on**
**a relatively small number of donors, the**
**level of reserves is felt appropriate to**
**ensure that SGMC can meet**
**commitments when they fall due.**| |---|---|---| |Amount of reserves held|Para 1.22|**Total reserves have increased to**
**£116,979.82, excluding a reserve of**
**£8,872.19 specifically designated for use**
**in Youth Work. In addition, we also hold**
**£8,363.83 in a restricted legacy reserve,**
**held in a separate account, to be used**
**for Mission and Outreach.**| ## **Structure, Governance and Management** |Description of charity’s
trusts:||| |---|---|---| |Type of governing document
(trust deed, royal charter)|Para 1.25|**Constitution**| |How is the charity
constituted?
(e.g. unincorporated
association, CIO)|Para 1.25|**Charitable Unincorporated Association**| |Trustee selection methods
including details of any
constitutional provisions
e.g., election to post or
name of any person or body
entitled to appoint one or
more trustees|Para 1.25|**Trustees are appointed and removed by**
**the Church Members, as detailed under**
**the Constitution. This process is public,**
**clear and open, but the vote is**
**undertaken by way of a secret ballot of**
**the membership of the Church. The**
**Church membership will also vote for**
**the appointment to the roles of Minister,**
**Minister-in-Training, Church Secretary,**
**Church Treasurer, Elder and Deacon.**| ## **Reference and Administrative details** |Charity name|Strood Gospel Mission Church| |---|---| |Other name the charity uses|N/A| |Registered charity number|1137729| |Charity’s principal address|Brompton Lane, Strood, Rochester, Kent. ME2 3BQ| |Correspondence address|58 King Arthurs Drive, Frindsbury, Rochester, Kent. ME2
3NB| ## **Names of the charity trustees who manage the charity** |1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20|**Trustee name**|**Office (if any)**|**Dates acted if not for whole**
**year **|**Name of person (or body) entitled**
**to appoint trustee (ifany)**| |---|---|---|---|---| ||Nigel Briston|Deacon||| ||Hayley Prestidge-
Briston|Minister-in-Training||| ||Stephen Gee|Treasurer & Deacon||| ||Diana Morgan|Deacon||| ||Rick Morgan|Deacon||| ||Femi Okanlawon|Deacon||| ||Marion Hollebon|Deacon||| ||Mark Wicker|Deacon||| ||Karen Charles|Deacon||| |||||| |||||| |||||| |||||| |||||| |||||| |||||| |||||| |||||| |||||| |||||| ## **Declarations** **The trustees declare that they have approved the trustees’ report above.** **Signed on behalf of the charity’s trustees** |**Signature(s**
**Full name(s**
**Position (e.g., Secretary,**
**Chair, etc)**
**Date**|**)**
**)**Stephen Gee


Treasurer & Trustee
XXthMarch 2024|| |---|---|---| |||| |||| ## **STROOD GOSPEL MISSION CHURCH** ## **FINANCIAL STATEMENT FOR THE YEAR ENDED 30 SEPTEMBER 2023** ## **GENERAL RECEIPTS & PAYMENTS ACCOUNT** |**Note**
**Income**
Sunday Offerings
Regular Giving
Rental Income
Designated Mission Giving
Sundry Income
Interest Received
Gift Aid Recovery
Borstal Secondment Agreement
**Total Income**
**Expenditure**
Payroll
College Accommodation & Travel
Pastor’s Discretionary Fund
Tithe Fund
Mileage
Designated Mission Gifts
Outreach & Publicity
Training & Teaching Materials
Preaching Gifts
Ministry (incl Sundries)
Licenses & Website
Resources
Youth Work
Property Church
Property Manse
Property Frindsbury
Property Borstal
Utilities Church
Utilities Frindsbury
Utilities Borstal
**Total Expenditure**
**Net income / (expenditure) for the year**
1
**Transfers to/from Reserve Accounts**
**Balance at previous year end**
**Balance at current year end**|**2023**
**2022**
4,108.45
5,862.37
26,621.00
25,027.00
13,510.73
12,006.14
583.62
740.43
2,385.75
1,047.68
1,198.82
659.97
6,831.22
9,949.45
7,635.51
-
**65,189.04**
**52,979.10**
17,722.44
19,822.06
2,288.55
3,356.94
750.00
500.00
3,193.71
3,890.38
84.15
583.62
1,369.30
926.30
150.00
1,494.47
507.89
2,050.09
366.61
5,283.90
6,997.42
950.00
12,245.00
2,643.52
338.34
2,091.13
-
740.43
1,346.75
649.80
50.00
1,133.05
472.66
1,335.43
149.56
5,283.86
2,231.91
11,400.00
-
2,447.01
3,062.29
-
**62,036.44**
**57,872.13**
**3,152.60**
**(4,893.03)**
**-**
**5,000.00**
**22,730.33**
**22,623.36**
**25,882.93**
**22,730.33**| |---|---| Page **1** of **3** ## **STATEMENT OF ASSETS AND LIABILITES AT 30 SEPTEMBER 2023** |**Note**
**Assets**
Bank and other cash balances
Current Account
Reserves Account *
Restricted Legacy Account (Mission)
Charity Bank Account
United Trust Account
Other monetary assets:
Debtors
Loans made
Gift aid claimed but not received
Investment Assets
Assets Held for Church’s own use
2
**Total Assets**
**Liabilities**
Current Liabilities
Long Term Loans
Pension Scheme liability
3
Other liabilities
**Total Liabilities**|**2023**
**2022**
22,562.59
20,608.81
37,076.82
8,363.83
36,658.14
8,272.88
52,965.60
35,809.59
52,718.50
35,367.50
-
-
-
-
-
-
-
-
1,898,797
1,451,750| |---|---| ||**2,055,575.43**
**1,605,375.83**
-
-
-
-
33.00
45.00
-
-| ||**33.00**
**45.00**| * Included within the Reserves Account is a figure of £8,872.19 representing the outstanding balance from the closure of the Playgroup, and is to be used for Youth Work. The accounts and statement of assets and liabilities relating to the year ending 30[th] September 2023 are as approved by the Charity Trustees, and by the Members at the AGM of 26[th] November 2023. Signed: Stephen Gee, Treasurer & Trustee (authorised to sign on behalf of the Charity Trustees) Date: 26.11.2023 ## **NOTES TO THE ACCOUNTS** ## **1. Basis of accounts** These accounts have been prepared on a ‘receipts and payments’ basis and in accordance with Section 133 Charities Act 2011. ## **2. Assets Held for the Church’s own use** The Church is the beneficial owner (subject to the relevant trusts) of the following assets, the legal title to which is held by the Church’s custodian trustee, the Property Trustees: - Church premises at Brompton Lane valued in the accounts at £1,341,333 insured value. - Church manse at 1 Weston Road valued in the accounts at £479,256 insured value. - The Church also owns fixtures, furniture and equipment with an insured value of £78,208 Page **2** of **3** ## **3. Pension Scheme Liabilities** The Church is a participating employer in the Baptist Pension Scheme (“the Scheme”), which is a separate legal entity administered by the Pension Trustee (Baptist Pension Trust Limited). The assets of the Scheme are held separately from those of the Employer and the other participating employers. The Scheme, previously known as the Baptist Ministers’ Pension Fund, started in 1925, but was closed to future accrual of defined benefits on 31 December 2011. Prior to this date the main benefit provided through the Defined Benefit (DB) Plan was a pension of one eightieth of final minimum pensionable income for each year of pensionable service together with additional pension in respect of premiums paid on Pensionable Income in excess of Minimum Pensionable Income. Since 1 January 2012, benefits have been provided through a Defined Contribution (DC) Plan. There was a formal valuation of the DB Plan as at 31 December 2019 by a professionally qualified Actuary using the Projected Unit Method. At the valuation date the market value of the DB Plan assets was £298 million, whilst the level of assets needed to pay benefits was £316m, giving a deficit of £18m (equivalent to a past service funding level of 94%). The Church and the other participating employers in the DB Plan are collectively responsible for funding this deficit. The next actuarial valuation of the DB Plan within the Scheme was due to take place not later than as at 31 December 2022. Under the Schedule of Contributions, the Church makes a monthly payment in respect of the DB scheme deficit, and historically these increased in line with increases in Minimum Pensionable Income. The Schedule of Contributions foresaw these contributions continuing until June 2026. On 30[th] June 2022, the Baptist Pension Scheme signed an agreement with the insurance company Just Group (“Just”) to secure DB Plan members’ pension benefits. Just are now providing financial backing for all pensions provided through the Scheme’s DB Plan and following this transaction, the Scheme no longer has a shortfall. An updated Recovery plan was then signed in August 2022 under which recovery contributions from each participating employer in the DB Plan reduced to £1 per month from August 2022. However, there remain elements of the DB Plan’s finances that are uncertain prior to the completion of the buy-out process (which is the setting up of annuities for each member of the DB Pan). These uncertainties include: the sale values that will be achieved in the disposal of the residual investment assets; the costs of operating the DB Plan until the completion of the buy-out process; the costs of the buy-out process itself, and the cost of making any amendments to the DB Plan to enable the buy-out to proceed. The Baptist Union and the Trustee of the Scheme expect the assets of the DB Plan will be sufficient to cover all the costs and liabilities that remain. However, it is possible that this will not be the case and that further funds will be needed from employers. It is not possible for the Baptist Union and the Trustee of the Scheme to quantify or estimate these funds at this time, but the direct debit mandates remain in place should there be a need to collect additional monies in the future. Page **3** of **3** Independent examinerfs report on the accounts CHARITY COMMISSION FOR ENGLAND AND WALES Se¢tion A Independent Examiner's Report Report to the trusteesl members of strood Gospel miss￿￿ Churth On accounts for the year endod 30 September 2023 Charity no (if any) 1137729 Set out on pages General Re￿[pts & PayryEnts Account. StateTr￿nt of Assets and Liabilf(ies arKI Notes to the A(z(MJnts 1-3 Respeclive responstbilities of trustees and exarniner The th8rtVs trustees are responstife for Ihe preDaratN)n OT tne accour The charivs trustees consider that an audit is not required for this year urKler section 144 of the Charities Act 2011 (kne Charities Actl and that an Inaependent examination is needed. It is my reswnsibilty to: examine the accounts under ￿lOn 145 of the CharÈbes Act, to follow the prccedures laid down in the general Directions given by the ChaHty CommtssK)n (under secli(M 145(5){bl of the charit￿$ Act, and to state whether part￿lar matters have ()Jme to my attentton. Basis of independent My examinatton vras carrEd out in accordance with general Directions given examiner's statement by the Charity Commission. An examination includes a review of the aCC￿￿ting reo)rds kept by the charity and a comparison of the accounts p￿sented with those records. It also includes COrnSKleRtDn of any unusual items or disclosures in the accounts and seeking explanations from the trustees conwn#ig any such matters. The procedures undertaken do not provide all the evideTr￿ that woukl be required in an audit, and consequenty no opinion is gtven as to whether the accounts present a Irue and fairf view and the reFK)rt is rim1￿1 to those matters set out in the staiemeni DeKsfv. Independent In o)nneL*on with my examinatKsn. no Tr£tter has come to my attention examiners ststement 1. wh￿h gives reasonable cause to believe that n. any troterial respect. the requirements". to keep accounting records in a¢zOrdan￿ Yiith section 130 of the Charities Act: and to prepare accounts which au￿rd with Ihe accounting records and comply wilh the ac￿yting requirements of the Charilies Act have not b*n met or 2. to vthth. in my opini proKkr undeTStan ntion sF¥)uld be drawn in order to enab￿ a nts to be reached. Signed: Date: . 6 May 2024 Na￿.. L￿e1 Robbins Relevant professional qualiftation(s) or body (if any): IER