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2023-03-31-accounts

REGISTERED COMPANY NUMBER: 07437171 (England and Wales) REGISTERED CHARITY NUMBER: 1140025

Report of the Trustees and

Financial Statements for the Year Ended 31 March 2023

for

Tabernacle Baptist Church Wolverhampton (A Company Limited by Guarantee)

Lewis Smith & Co. Chartered Certified Accountants The Old Doctor's House 74 Grange Road Dudley West Midlands DY1 2AW

Tabernacle Baptist Church Wolverhampton

Contents of the Financial Statements for the Year Ended 31 March 2023

Page
Reference and Administrative Details 1
Report of the Trustees 2 to 5
Independent Examiner's Report 6
Statement of Financial Activities 7
Balance Sheet 8 to 9
Notes to the Financial Statements 10 to 19
Detailed Statement of Financial Activities 20 to 21

Tabernacle Baptist Church Wolverhampton

Reference and Administrative Details for the Year Ended 31 March 2023

TRUSTEES Pastor R Skinner Mr J S Lally (resigned 31.7.23) Dr A O Taiwo Mrs B L Hamnett (resigned 30.9.22) Ms Y Sheldon Mr H Kulyna Mr R K Manu Mr O Kolade Mrs D Martin-Summers (appointed 29.3.23) Mrs O Odiase (appointed 29.3.23) REGISTERED OFFICE Tabernacle Baptist Church Dunstall Road Wolverhampton West Midlands WV6 0NJ REGISTERED COMPANY 07437171 (England and Wales) NUMBER

REGISTERED CHARITY NUMBER 1140025

INDEPENDENT EXAMINER Lewis Smith & Co. Chartered Certified Accountants The Old Doctor's House 74 Grange Road Dudley West Midlands DY1 2AW

Page 1

Tabernacle Baptist Church Wolverhampton

Report of the Trustees

for the Year Ended 31 March 2023

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2023. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).

The Annual report serves the purposes of both a Trustees' report and a directors' report under company law. The Trustees confirm that the Annual report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable company's governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities.

Since the charity qualifies as small under section 382 of the Companies Act 2006, the Strategic report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013 has been omitted.

OBJECTIVES AND ACTIVITIES

Policies and objectives

The charitable objectives are the advancement of the Christian faith according to the principles of the Baptist denomination and the charity may also advance education and carry out other charitable purposes in the United Kingdom and/or other parts of the world.

In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2).

We hope the rest of the report will demonstrate the public benefit from the Charity's work, specifically in advancing faith, bringing spiritual peace, and in social action that reaches the practical felt needs of those in our locality and overseas.

Activities undertaken to achieve objectives

In order to achieve the objective above, the charity engages in the following activities:

Page 2

Tabernacle Baptist Church Wolverhampton

Report of the Trustees

for the Year Ended 31 March 2023

ACHIEVEMENT AND PERFORMANCE Review of activities

Some of the key activities that have advanced our charitable aims and objectives include:

Children, Youth and Young Adults (18-30)

Community

Spiritual Development

Mission and partnerships

FINANCIAL REVIEW

Reserves policy

It is our policy to try and maintain a reserve equivalent to approximately no lower than three months expenditure (now approximately £30,000). It is hoped that this level of reserves gives sufficient capacity for the church to respond flexibly to a sudden drop of income or unexpected demands on the church resources.

At the year end the general free reserves (excluding fixed assets) stood at £251,493 (2022 - £243,691), therefore is well in excess of the minimum required.

The Trustees are satisfied that no additional actions or considerations are necessary in the context of the reserves at this point in time. The level of reserves will continue to be kept under review to ensure they are appropriate to our needs.

Page 3

Tabernacle Baptist Church Wolverhampton

for the Year Ended 31 March 2023

Report of the Trustees

FINANCIAL REVIEW

Deficit

The Trustees remain mindful of annual deficits and took steps to reduce the year's deficit. A balanced budget was achieved by the end of 2023, the deficit being the result of gift donations from previously received legacies. The Trustees continue to set the target of producing a balanced budget by the end of the financial year 2023/2024. Quarterly budget reviews by the budget team take place in order to manage the church's finances and budget.

STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document

Tabernacle Baptist Church Wolverhampton is registered as a charitable company limited by guarantee and was set up by a Memorandum of Association on 11 November 2010 and was registered as a charity on 25 January 2011.

Charity constitution

The church existed as a place of worship in the area since 1908 under the name Tabernacle Baptist Church and stood as an unincorporated charity until the church body agreed to transfer into a charitable company limited by guarantee due to a change in government legislation regarding Charities Law.

The principal object of the charity is the advancement of the Christian faith according to the principles of the Baptist denomination and the charity may also advance education and carry out other charitable purposes in the United Kingdom and/or other parts of the world.

Methods of appointment or election of Trustees

The Trustees are elected from the Church membership by resolution at the Church Members Meeting. The Trustees are also the Deacons of the Church. In addition, the Minister of the Church serves as a Trustee ex-officio.

There must be a minimum of 3 Trustees. The Trustees (with the exception of the Minister) serve for a 3-year term and at the end of that term must retire but may be eligible for reappointment for one further term of 3 years. A close family member of a serving Trustee shall not be eligible for appointment as a Trustee.

Organisational structure and decision-making policies

The Trustees (who are also the directors of Tabernacle Baptist Church Wolverhampton for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Financial risk management

The Trustees have assessed the major risks to which the charity is exposed, in particular those related to the operations and finances of the charity and are satisfied that systems and procedures are in place to mitigate exposure to the major risks.

STATEMENT OF TRUSTEES' RESPONSIBILITIES

The trustees (who are also the directors of Tabernacle Baptist Church Wolverhampton for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to

Page 4

Tabernacle Baptist Church Wolverhampton

Report of the Trustees

for the Year Ended 31 March 2023

STATEMENT OF TRUSTEES' RESPONSIBILITIES - continued

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Approved by order of the board of trustees on ............................................. and signed on its behalf by:

.......................................................................... Pastor R Skinner - Trustee

Page 5

Independent Examiner's Report to the Trustees of Tabernacle Baptist Church Wolverhampton

Independent examiner's report to the trustees of Tabernacle Baptist Church Wolverhampton ('the Company')

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2023.

Responsibilities and basis of report

As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').

Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.

Independent examiner's statement

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

  1. accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or 2. the accounts do not accord with those records; or

  2. the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or

  3. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Mr Craig Alan Beale

Lewis Smith & Co. Chartered Certified Accountants The Old Doctor's House 74 Grange Road Dudley West Midlands DY1 2AW

Date: .............................................

Page 6

Tabernacle Baptist Church Wolverhampton

Statement of Financial Activities

for the Year Ended 31 March 2023

Unrestricted
funds
Notes
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
3
108,321
Other trading activities
4
252
Investment income
5
11,242
Total
119,815
EXPENDITURE ON
Charitable activities
6
Ministry
73,304
Mission
52,928
Total
126,232
NET INCOME/(EXPENDITURE)
(6,417)
RECONCILIATION OF FUNDS
Total funds brought forward
912,729
TOTAL FUNDS CARRIED FORWARD
906,312		 Restricted
funds
£
-
-
-
-
-
-
-
-
5,950
5,950		 31.3.23
Total
funds
£
108,321
252
11,242
119,815
73,304
52,928
126,232
(6,417)
918,679
912,262		 31.3.22
Total
funds
£
96,307
-
3,217
99,524
112,156
13,905
126,061
(26,537)
945,216
918,679

The notes form part of these financial statements

Page 7

Tabernacle Baptist Church Wolverhampton

Balance Sheet

31 March 2023

Notes
FIXED ASSETS
Tangible assets
13
CURRENT ASSETS
Debtors
14
Cash at bank and in hand
CREDITORS
Amounts falling due within one year
15
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT
LIABILITIES
PENSION LIABILITY
NET ASSETS
FUNDS
16
Unrestricted funds
Restricted funds
TOTAL FUNDS		 Unrestricted
funds
£
654,819
7,365
248,453
255,818
(4,325)
251,493
906,312
-
906,312		 Restricted
funds
£
-
-
5,950
5,950
-
5,950
5,950
-
5,950		 31.3.23
Total
funds
£
654,819
7,365
254,403
261,768
(4,325)
257,443
912,262
-
912,262
906,312
5,950
912,262		 31.3.22
Total
funds
£
669,038
6,639
289,034
295,673
(6,562)
289,111
958,149
(39,470)
918,679
912,729
5,950
918,679

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for

The notes form part of these financial statements

continued...

Page 8

Tabernacle Baptist Church Wolverhampton

Balance Sheet - continued

31 March 2023

These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.

The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:

............................................. Pastor R Skinner - Trustee

............................................. Mr H Kulyna - Trustee

The notes form part of these financial statements

Page 9

Tabernacle Baptist Church Wolverhampton

Notes to the Financial Statements for the Year Ended 31 March 2023

1. GENERAL INFORMATION

Tabernacle Baptist Church Wolverhampton is a charitable company registered and domiciled in England. Its principal activity is to operate as a Christian church. Its registered office is Tabernacle Baptist Church, Dunstall Road, Wolverhampton WV6 0NJ.

Company Status

The charity is a company limited by guarantee. The members of the company are the membership of the church. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The presentation currency of the financial statements is the Pound Sterling (£), rounded to the nearest £.

Critical accounting judgements and key sources of estimation uncertainty

Estimates and judgments are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Critical accounting estimates and assumptions:

Multi-employer defined benefit pension scheme - the charity has an obligation to pay a deficit funding arrangement in respect of a multi-employer defined benefit pension scheme (Baptist Pension Scheme). The present value of the obligation depends on a number of factors including the RPI rate and the discount rate on corporate bonds. Management estimates these factors based on guidance from the Baptist Pensions, in determining the new pension obligation in the balance sheet.

Income

All income is recognised once the charity has entitlement to the income, it is probable that the income will be received, and the amount of income receivable can be measured reliably.

Donations are recognised on receipt.

Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to the activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset's use.

continued...

Page 10

Tabernacle Baptist Church Wolverhampton

Notes to the Financial Statements - continued for the Year Ended 31 March 2023

2. ACCOUNTING POLICIES - continued

Expenditure

Support costs are those costs incurred directly in support of expenditure on the objects of the charity. Governance costs are those incurred in connection with administration of the charity and compliance with constitutional and statutory requirements.

All expenditure is inclusive of irrecoverable VAT.

Tangible fixed assets

All tangible fixed assets costing more that £1,000 are capitalised.

A review for impairment of a fixed asset is carried out if events or changes in circumstances indicate that the carrying value of any fixed asset may not be recoverable. Shortfalls between the carrying value of fixed assets and their recoverable amounts are recognised as impairments. Impairment losses are recognised in the Statement of financial activities incorporating income and expenditure accounts.

Tangible fixed assets are carried at cost, net of depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Freehold property - over 50 years on a straight-line basis
Short-term leasehold property - over the shorter of the period remaining on the lease and the expected
useful life
Fixtures and fittings - over 4 or 5 years on a straight-line basis (or over the term of the lease if
this is shorter)

Taxation

The charity is exempt from corporation tax on its charitable activities.

Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objective of the charity and which have not been designated for other purposes.

Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund are set out in the notes to the financial statements.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund are set out in the notes to the financial statements.

Pension costs and other post-retirement benefits

The Church operates two defined contribution pension schemes, the Baptist Pension Scheme for the minister and a NEST scheme for all other staff. The pension charge represents the amounts payable by the Church to the fund in respect of the year.

continued...

Page 11

Tabernacle Baptist Church Wolverhampton

Notes to the Financial Statements - continued for the Year Ended 31 March 2023

2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits

Prior to 2012, pension provision for the Baptist Pension Scheme was made through a multi-employer defined benefit pension plan. Where it is not possible for the employer to obtain sufficient information about its share of the underlying assets and liabilities of the defined benefit pension plan it is accounted for as a defined contribution plan. Where the plan is in deficit and the Church has agreed, with the plan, to participate in a deficit funding arrangement, the church recognises a liability for this obligation. The amount recognised is the net present value of the contributions payable under the agreement that relate to the deficit. This amount is shown as an expense in the Statement of Financial Activities. The unwinding of the discount is recognised as a finance cost. A liability for the agreed pension scheme deficit plan of the Baptist Pension Scheme has been included based on the current Schedule of Contributions.

Operating leases

Rentals paid under operating leases are charged to the Statement of financial activities on a straight-line basis over the lease term.

Interest Receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity: this is normally upon notification of the interest paid or payable by the institution which whom the funds are deposited.

Debtors

Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid.

Cash at bank and in hand

Cash at bank and in hand includes cash and short-term liquid investments with a short maturity of 3 months or less from the date of acquisition or opening of the deposit or similar account.

Liabilities

Liabilities and provisions are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.

Liabilities are recognised at the amount that the charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.

Provisions are measured at the best estimate of the amounts required to settle the obligation.

Financial Instruments

The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

continued...

Page 12

Tabernacle Baptist Church Wolverhampton

Notes to the Financial Statements - continued for the Year Ended 31 March 2023

3.
DONATIONS AND LEGACIES
Donations
4.
OTHER TRADING ACTIVITIES
Other income
5.
INVESTMENT INCOME
Lettings
Car park
Bank interest recieved
Other interest
6.
CHARITABLE ACTIVITIES COSTS
Ministry
Mission
7.
DIRECT COSTS OF CHARITABLE ACTIVITIES
Trustees' remuneration etc
Trustees' expenses
Manse upkeep
Church ministries
BMS world mission
Home mission fund
Overseas mission fund
Designated gifts
Community gifts		 Direct
Costs (see
note 7)
£
34,783
52,928
87,711		 31.3.23
£
108,321
31.3.23
£
252
31.3.23
£
366
5,313
5,527
36
11,242
Support
costs (see
note 8)
£
38,521
-
38,521
31.3.23
£
29,112
154
1,394
4,123
2,148
3,828
2,100
1,140
43,712
87,711		 31.3.22
£
96,307		 31.3.22
£
96,307
31.3.22
£
-
31.3.22
£
90
1,858
1,269
-
3,217
Totals
£
73,304
52,928
3,217
Totals
£
73,304
52,928
126,232
31.3.22
£
27,034
386
1,948
1,214
1,980
3,996
3,600
4,329
-
44,487
44,487

continued...

Page 13

Tabernacle Baptist Church Wolverhampton

Notes to the Financial Statements - continued

for the Year Ended 31 March 2023

8. SUPPORT COSTS

Management
£
Ministry
72,115
Support costs, included in the above, are as follows:
Wages
Social security
Pensions
Stationery and office costs
Conferences and training
Professional fees
Upkeep of church premises
Maintenance of premises and equipment
Depreciation of tangible and heritage assets
Bank charges
Independent examiners fees
Accountancy fees
Pension balance written off
9.
NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
Depreciation - owned assets
Independent examiners fees
10.
TRUSTEES' REMUNERATION AND BENEFITS
Trustees' salaries
Trustees' pension contributions to money purchase schemes		 Governance
Finance
costs
Totals
£
£
£
5
(33,599)
38,521
31.3.23
31.3.22
Total
Ministry
activities
£
£
18,418
22,562
(2,023)
-
200
272
3,963
3,253
864
464
1,976
2,435
16,280
16,543
12,277
12,961
20,160
18,832
5
-
4,290
3,990
202
262
(38,091)
-
38,521
81,574
31.3.23
31.3.22
£
£
20,160
18,832
4,290
3,990
31.3.23
31.3.22
£
£
26,182
25,187
2,930
1,847
29,112
27,034		 Totals
£
38,521
27,034

During the year a trustee has been paid remuneration from employment with the charity. Ministers at Tabernacle Baptist Church are considered to be trustees ex officio and are permitted by the articles of association. The value of trustees remuneration paid is as above and was made to Pastor Richard Skinner.

continued...

Page 14

Tabernacle Baptist Church Wolverhampton

Notes to the Financial Statements - continued for the Year Ended 31 March 2023

10. TRUSTEES' REMUNERATION AND BENEFITS - continued

Trustees' expenses
31.3.23 31.3.22
£ £
Trustees' expenses 154 386
The above expenses were paid to Pastor Richard Skinner.
11. STAFF COSTS
31.3.23 31.3.22
£ £
Wages and salaries 44,600 47,749
Social security costs (2,023) -
Other pension costs 3,130 2,119
45,707 49,868
The average monthly number of employees during the year was as follows:
31.3.23 31.3.22
Clergy 1 1
Administration 1 1
Premises 1 1
3 3
No employees received emoluments in excess of £60,000.
12. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted Restricted Total
funds funds funds
£ £ £
INCOME AND ENDOWMENTS FROM
Donations and legacies 96,307 - 96,307
Investment income 3,217 - 3,217
Total 99,524 - 99,524
EXPENDITURE ON
Charitable activities
Ministry 112,156 - 112,156
Mission 13,905 - 13,905
Total 126,061 - 126,061
NET INCOME/(EXPENDITURE) (26,537) - (26,537)

Page 15

continued...

Tabernacle Baptist Church Wolverhampton

Notes to the Financial Statements - continued for the Year Ended 31 March 2023

12.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued
Unrestricted
Restricted
funds
funds
£
£
RECONCILIATION OF FUNDS
Total funds brought forward
939,266
5,950
TOTAL FUNDS CARRIED FORWARD
912,729
5,950
13.
TANGIBLE FIXED ASSETS
Fixtures
Freehold
and
property
fittings
£
£
COST
At 1 April 2022
844,414
27,607
Additions
-
5,941
At 31 March 2023
844,414
33,548
DEPRECIATION
At 1 April 2022
185,370
17,613
Charge for year
16,888
3,272
At 31 March 2023
202,258
20,885
NET BOOK VALUE
At 31 March 2023
642,156
12,663
At 31 March 2022
659,044
9,994		 Total
funds
£
945,216
918,679
Totals
£
872,021
5,941
877,962
202,983
20,160
223,143
654,819
669,038		 Total
funds
£
945,216
918,679

Freehold property includes the church building and the Manse. The properties are held in trust on behalf of the church by the Heart of England Baptist Association.

14. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.23 31.3.22
£ £
PAYE and NI debtor 830 2,656
Prepayments and accrued income 6,535 3,983
7,365 6,639

Page 16

continued...

Tabernacle Baptist Church Wolverhampton

Notes to the Financial Statements - continued for the Year Ended 31 March 2023

15. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Trade creditors
Other creditors
Accruals and deferred income
16.
MOVEMENT IN FUNDS
At 1.4.22
£
Unrestricted funds
General Reserve Fund
243,691
Tangible Fixed Asset Fund
669,038
912,729
Restricted funds
Youth Work Fund
5,950
TOTAL FUNDS
918,679
Net movement in funds, included in the above are as follows:
Unrestricted funds
General Reserve Fund
Tangible Fixed Asset Fund
TOTAL FUNDS		 Net
movement
in funds
£
13,743
(20,160)
(6,417)
-
(6,417)
Incoming
resources
£
119,815
-
119,815
119,815		 31.3.23
31.3.22
£
£
-
2,169
33
403
4,292
3,990
4,325
6,562
Transfers
between
At
funds
31.3.23
£
£
(5,941)
251,493
5,941
654,819
-
906,312
-
5,950
-
912,262
Resources
Movement
expended
in funds
£
£
(106,072)
13,743
(20,160)
(20,160)
(126,232)
(6,417)
(126,232)
(6,417)

continued...

Page 17

Tabernacle Baptist Church Wolverhampton

Notes to the Financial Statements - continued for the Year Ended 31 March 2023

16. MOVEMENT IN FUNDS - continued

Comparatives for movement in funds

Net
movement
At 1.4.21
in funds
£
£
Unrestricted funds
General Reserve Fund
260,991
(7,705)
Tangible Fixed Asset Fund
678,275
(18,832)
939,266
(26,537)
Restricted funds
Youth Work Fund
5,950
-
TOTAL FUNDS
945,216
(26,537)
Comparative net movement in funds, included in the above are as follows:
Incoming
resources
£
Unrestricted funds
General Reserve Fund
99,524
Tangible Fixed Asset Fund
-
99,524
TOTAL FUNDS
99,524		 Transfers
between
At
funds
31.3.22
£
£
(9,595)
243,691
9,595
669,038
-
912,729
-
5,950
-
918,679
Resources
Movement
expended
in funds
£
£
(107,229)
(7,705)
(18,832)
(18,832)
(126,061)
(26,537)
(126,061)
(26,537)

Fund Descriptions:

Designated Fund

The Tangible Fixed Asset Fund represents the net book value of the tangible fixed assets.

Restricted Funds

The Youth Work Fund represented donations towards the hiring of and salary for a new youth worker or, in the event of no appointment being made, for wider youth work. No appointment is to be made so the fund will now be spent on wider youth work.

continued...

Page 18

Tabernacle Baptist Church Wolverhampton

Notes to the Financial Statements - continued for the Year Ended 31 March 2023

17. RELATED PARTY DISCLOSURES

Six (2022 - four) trustees made aggregate donations of £13,043 (2022 - £8,191) without condition. These amounts include no gift aid thereon.

Under the terms of the articles of association, the senior and associated misters, who act as trustees ex-officio, are permitted to receive remuneration. This has been disclosed in note 10.

Page 19

Tabernacle Baptist Church Wolverhampton
Detailed Statement of Financial Activities
for the Year Ended 31 March 2023
31.3.23 31.3.22
£ £
INCOME AND ENDOWMENTS
Donations and legacies
Donations 108,321 96,307
Other trading activities
Other income 252 -
Investment income
Lettings 366 90
Car park 5,313 1,858
Bank interest recieved 5,527 1,269
Other interest 36 -
11,242 3,217
Total incoming resources 119,815 99,524
EXPENDITURE
Charitable activities
Trustees' salaries 26,182 25,187
Trustees' pension contributions 2,930 1,847
Trustees' expenses 154 386
Manse upkeep 1,394 1,948
Church ministries 4,123 1,214
BMS world mission 2,148 1,980
Home mission fund 3,828 3,996
Overseas mission fund 2,100 3,600
Designated gifts 1,140 4,329
Community gifts 43,712 -
87,711 44,487
Support costs
Management
Wages 18,418 22,562
Social security (2,023) -
Pensions 200 272
Stationery and office costs 3,963 3,253
Conferences and training 864 464
Professional fees 1,976 2,435
Upkeep of church premises 16,280 16,543
Maintenance of premises and equipment 12,277 12,961
Carried forward 51,955 58,490

This page does not form part of the statutory financial statements

Page 20

Tabernacle Baptist Church Wolverhampton

Detailed Statement of Financial Activities for the Year Ended 31 March 2023

Detailed Statement of Financial Activities
for the Year Ended 31 March 2023
31.3.23 31.3.22
£ £
Management
Brought forward 51,955 58,490
Depreciation of tangible and heritage assets 20,160 18,832
72,115 77,322
Finance
Bank charges 5 -
Governance costs
Independent examiners fees 4,290 3,990
Accountancy fees 202 262
Pension balance written off (38,091) -
(33,599) 4,252
Total resources expended 126,232 126,061
Net expenditure (6,417) (26,537)

This page does not form part of the statutory financial statements

Page 21