**REGISTERED CHARITY NUMBER: 1140734** ## **Report of the Trustees and** ## **Unaudited Financial Statements for the Year Ended 31 December 2020** ## **for** ## **Speen Baptist Church** Haines Watts Chartered Accountants Milton House Gatehouse Road Aylesbury Buckinghamshire HP19 8EA **Speen Baptist Church** ## **Contents of the Financial Statements for the Year Ended 31 December 2020** ||**Page**| |---|---| |**Report of the Trustees**|1 to 3| |**Independent Examiner's Report**|4| |**Statement of Financial Activities**|5| |**Balance Sheet**|6| |**Notes to the Financial Statements**|7 to 13| |**Detailed Statement of Financial Activities**|14 to 15| **Speen Baptist Church** ## **Report of the Trustees for the Year Ended 31 December 2020** The trustees present their report with the financial statements of the charity for the year ended 31 December 2020. 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). ## **OBJECTIVES AND ACTIVITIES** ## **Objectives and aims** We have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing our aims and objectives and in planning our future activities. The objects are set out in the governing document mentioned above. In summary they are: - to provide a place of worship and - to give financial assistance to those in need. The managing trustees have the authority to make decisions concerning financial donations up to £500, anything above that amount must be ratified by the members. ## **ACHIEVEMENT AND PERFORMANCE** ## **Charitable activities** We continued to offer weekly worship services, prayer meetings, home groups, home visits and other aspects of a Christian community throughout the year. Many of these were online for much of the year as Covid precautions required. The church membership and visitors continue to meet regularly, see some new faces arrive, and some old friends move on, and to worship God throughout. We had some opportunities across 2020 to bless the community with a toddler group and the lovely weekly café, Chapel Hill Kitchen. Covid prevented these from continuing in their normal form, but we adapted our café capability to deliver lunches and other encouraging treats and meals to the local community. All surplus cash raised by the latter is used in charitable ways, and all staff give their time entirely voluntarily. The planned improvements to the insulation quality of the walls in the Manse were completed and have made it more energy efficient, dry and warm. We appointed our new minister from March 2020, just in time for lockdown. It has been a very challenging time for Tim and Rosi Deller to arrive from Brazil, but they have kept smiling in the face of adversity! 2020 saw Speen Church continuing to grow and evolve in our ability to benefit the local community especially given the difficulties of the Covid pandemic. We still sustained our support for overseas mission charities in India and Ethiopia and to share the love of Jesus with many at home and overseas. Financially we retain healthy reserves at the year end and at the time of signing off these accounts. We thank God for all of these things. Praise God for a blessed year, with much to look forward to. ## **FINANCIAL REVIEW** ## **Financial Review** The policy on reserves is to maintain at least 3 months of average expenditure. This objective was met throughout the year. The public benefit objectives have been supported by the expenditure on repairs and refurbishment and the general expenditure of the church, all of which support our objectives of sharing the gospel of Jesus and putting it into practice amongst the local community, and further afield for the benefit of those in poverty and need. We also donate amounts detailed in these accounts to a number of local and international charities. Page 1 **Speen Baptist Church** ## **Report of the Trustees for the Year Ended 31 December 2020** ## **FUTURE PLANS** The objective remains to continue providing the public benefits as set out in the summary of activities above. The Chapel and Church Hall are now in excellent condition, so as to offer good facilities to the church and local community. The Chapel Hill Kitchen, Tiddlers and Toddlers group, alongside other routine church activities and our policy of directly supporting and donating funds to two local and two international charities (all supporting those in extreme poverty), are all planned to be continued for the foreseeable future, noting that many of our activities have been adapted to deal with pandemic requirements. ## **STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document** Speen Church is an unincorporated charity governed by a constitution based on the Baptist Union guidance and adopted by the members. The existing members appoint managing trustees (see below) following the provisions set out in the above governing constitution. Significant decisions concerning Speen Church are debated by the managing trustees who then make a proposal to the membership, which is decided by a vote. ## Public Benefit The church acknowledges its requirement to demonstrate clearly that it must have charitable purposes that are for the public benefit. The activities set out below illustrate the public benefit provided this year. ## Trustees Baptist Union Corporation Limited is a custodian trustee. The trustees listed above are managing trustees (Deacons). ## **REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number** 1140734 ## **Principal address** Speen Church Speen Princes Risborough Buckinghamshire HP27 0SP ## **Trustees** Ms J Pearce Mr K Brown (resigned 2.4.20) Mr S Booth Mr J Entwisle Ms J Hearn Mr A Blundell (resigned 6.1.20) Revd T Deller (appointed 1.3.20) Ms A Wright ## **Independent Examiner** Haines Watts Chartered Accountants Milton House Gatehouse Road Aylesbury Buckinghamshire HP19 8EA Page 2 ## **Speen Baptist Church** ## **Report of the Trustees for the Year Ended 31 December 2020** 26/08/2021 Approved by order of the board of trustees on ............................................. and signed on its behalf by: .................................................................... Mr J Entwisle - Trustee Page 3 ## **Independent Examiner's Report to the Trustees of Speen Baptist Church** ## **Independent examiner's report to the trustees of Speen Baptist Church** I report to the charity trustees on my examination of the accounts of Speen Baptist Church (the Trust) for the year ended 31 December 2020. ## **Responsibilities and basis of report** As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act'). I report in respect of my examination of the Trust's accounts carried out under section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under section 145(5)(b) of the Act. ## **Independent examiner's statement** I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: 1. accounting records were not kept in respect of the Trust as required by section 130 of the Act; or 2. the accounts do not accord with those records; or 3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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. 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. Shaun Brownsmith FCA Haines Watts Chartered Accountants Milton House Gatehouse Road Aylesbury Buckinghamshire HP19 8EA 25/08/2021 Date: ............................................. Page 4 ## **Speen Baptist Church** ## **Statement of Financial Activities for the Year Ended 31 December 2020** |Notes
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
2
Other trading activities
3
Investment income
4
**Total**
**EXPENDITURE ON**
Raising funds
5
**Charitable activities**
6
Cost of Charitable Activities
**Total**
Net gains on investments
**NET INCOME/(EXPENDITURE)**
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
**TOTAL FUNDS CARRIED FORWARD**|Unrestricted
fund
£
55,726
3,295
(50)
58,971
37,514
61,568
99,082
12,894
(27,217)
436,212
408,995|Restricted
funds
£
-
-
-
-
-
-
-
33,503
33,503
1,707,278
1,740,781|31.12.20
Total
funds
£
55,726
3,295
(50)
58,971
37,514
61,568
99,082
46,397
6,286
2,143,490
2,149,776|31.12.19
Total
funds
£
82,747
14,965
8,711| |---|---|---|---|---| |||||106,423
9,479
44,469| |||||53,948
-| |||||52,475
2,091,015| |||||2,143,490| The notes form part of these financial statements Page 5 ## **Speen Baptist Church** ## **Balance Sheet 31 December 2020** |Notes
**FIXED ASSETS**
Tangible assets
12
Investment property
13
**CURRENT ASSETS**
Debtors
14
Cash at bank
**NET CURRENT ASSETS**
**TOTAL ASSETS LESS CURRENT LIABILITIES**
**NET ASSETS**
**FUNDS**
15
Unrestricted funds
Restricted funds
**TOTAL FUNDS**|Unrestricted
fund
£
364,284
-
364,284
10,426
34,285
44,711
44,711
408,995
408,995|Restricted
funds
£
1,418,117
322,664
1,740,781
-
-
-
-
1,740,781
1,740,781|31.12.20
Total
funds
£
1,782,401
322,664
2,105,065
10,426
34,285
44,711
44,711
2,149,776
2,149,776
408,995
1,740,781
2,149,776|31.12.19
Total
funds
£
1,736,004
322,664| |---|---|---|---|---| |||||2,058,668
13,827
70,995| |||||84,822| |||||84,822| |||||2,143,490| |||||2,143,490| |||||436,212
1,707,278| |||||2,143,490| The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by: 26/08/2021 ............................................. Mr J Entwisle - Trustee The notes form part of these financial statements Page 6 **Speen Baptist Church** ## **Notes to the Financial Statements** ## **for the Year Ended 31 December 2020** ## **1. ACCOUNTING POLICIES** ## **Basis of preparing the financial statements** The financial statements of the charity, 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 Charities Act 2011. The financial statements have been prepared under the historical cost convention, as modified by the revaluation of certain assets. The financial statements have been prepared on a going concern basis. The Trustees have reviewed and considered relevant information, including the annual budget and future cash flows in making their assessment. In particular, in response to the COVID-19 pandemic, the Directors have tested their cash flow analysis to take into account the impact on their business of possible scenarios brought on by the impact of COVID-19, alongside the measures that they can take to mitigate the impact. Based on these assessments, given the measures that could be undertaken to mitigate the current adverse conditions, and the current resources available, the Directors have concluded that they can continue to adopt the going concern basis in preparing the annual report and accounts. ## **Income** All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. ## **Expenditure** Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, 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 accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. ## **Church manse** The Church Manse is the premises used by the vicar and is included in the accounts at the recently insured value. ## **Taxation** The charity is exempt from tax on its charitable activities. ## **Fund accounting** Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. ## **Pension costs and other post-retirement benefits** The charity operates a defined contribution pension scheme. Contributions payable to the charity's pension scheme are charged to the Statement of Financial Activities in the period to which they relate. continued... Page 7 ## **Speen Baptist Church** ## **Notes to the Financial Statements - continued for the Year Ended 31 December 2020** |**2.**|**DONATIONS AND LEGACIES**|||| |---|---|---|---|---| ||||31.12.20|31.12.19| ||||£|£| ||Donations||45,142|68,920| ||Gift aid||10,584|13,827| ||||55,726|82,747| |**3.**|**OTHER TRADING ACTIVITIES**|||| ||||31.12.20|31.12.19| ||||£|£| ||Fundraising events||-|602| ||Burial Fees||-|620| ||Chapel Hill Kitchen sales||3,295|13,743| ||||3,295|14,965| |**4.**|**INVESTMENT INCOME**|||| ||||31.12.20|31.12.19| ||||£|£| ||Rents received||(50)|8,711| |**5.**|**RAISING FUNDS**|||| ||**Investment management costs**|||| ||||31.12.20|31.12.19| ||||£|£| ||Property repairs||37,514|9,479| |**6.**|**CHARITABLE ACTIVITIES COSTS**|||| ||||Support|| |||Direct|costs (see|| |||Costs|note 7)|Totals| |||£|£|£| ||Cost of Charitable Activities|60,986|582|61,568| continued... Page 8 **Speen Baptist Church** ## **Notes to the Financial Statements - continued for the Year Ended 31 December 2020** ## **7. SUPPORT COSTS** |||Governance|| |---|---|---|---| ||Finance|costs|Totals| ||£|£|£| |Cost of Charitable Activities|186|396|582| ## **8. TRUSTEES' REMUNERATION AND BENEFITS** There were no trustees' remuneration or other benefits for the year ended 31 December 2020 nor for the year ended 31 December 2019. ## **Trustees' expenses** There were no trustees' expenses paid for the year ended 31 December 2020 nor for the year ended 31 December 2019. ## **9. STAFF COSTS** |Wages and salaries
Social security costs
Other pension costs
The average monthly number of employees during the year was as follows:
Ministry team
No employees received emoluments in excess of £60,000.
**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**
Unrestricted
fund
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
78,127
Other trading activities
14,965
Investment income
8,711
**Total**
101,803
**EXPENDITURE ON**
Raising funds
6,669
**Charitable activities**
Cost of Charitable Activities
42,659
**Total**
49,328|31.12.20
£
19,272
3,394
6,474
29,140
31.12.20
2
Restricted
funds
£
4,620
-
-
4,620
2,810
1,810
4,620|31.12.19
£
2,200
-
3,553
5,753
31.12.19
1
Total
funds
£
82,747
14,965
8,711|31.12.19
£
2,200
-
3,553
5,753
31.12.19
1
Total
funds
£
82,747
14,965
8,711| |---|---|---|---| ||||106,423
9,479
44,469| ||||53,948| ## **10. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES** continued... Page 9 ## **Speen Baptist Church** ## **Notes to the Financial Statements - continued for the Year Ended 31 December 2020** ## **10. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued** ||||Unrestricted|Restricted|Restricted|Total| |---|---|---|---|---|---|---| ||||fund|funds||funds| ||||£|£||£| ||**NET INCOME**||52,475||-|52,475| ||**RECONCILIATION OF FUNDS**|||||| ||**Total funds brought forward**||383,737|1,707,278||2,091,015| ||**TOTAL FUNDS CARRIED FORWARD**||436,212|1,707,278||2,143,490| |**11.**|**TRANSFERS**|||||| ||In the current year the statement of financial activities shows a transfer between the restoration fund an|||||| ||the unrestricted fund.|||||| ||This was for the purpose of paying a loan that had been taken out for the restoration project.|||||The loan h| ||not previously been allocated to the restoration fund as this would have|||caused a deficit||in what is| ||restricted fund.|||||| |**12.**|**TANGIBLE FIXED ASSETS**|||||| ||||Improvements|Fixtures||| |||Freehold|to|and||| |||property|property|fittings||Totals| |||£|£|£||£| ||**COST OR VALUATION**|||||| ||At 1 January 2020|1,338,561|351,390|46,053||1,736,004| ||Revaluations|33,503|12,894|-||46,397| ||At 31 December 2020|1,372,064|364,284|46,053||1,782,401| ||**NET BOOK VALUE**|||||| ||At 31 December 2020|1,372,064|364,284|46,053||1,782,401| ||At 31 December 2019|1,338,561|351,390|46,053||1,736,004| In the current year the statement of financial activities shows a transfer between the restoration fund and the unrestricted fund. This was for the purpose of paying a loan that had been taken out for the restoration project. The loan had not previously been allocated to the restoration fund as this would have caused a deficit in what is a restricted fund. continued... Page 10 **Speen Baptist Church** ## **Notes to the Financial Statements - continued for the Year Ended 31 December 2020** ## **13. INVESTMENT PROPERTY** |**FAIR VALUE**
At 1 January 2020
and 31 December 2020
**NET BOOK VALUE**
At 31 December 2020
At 31 December 2019
**14.**
**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Other debtors
**15.**
**MOVEMENT IN FUNDS**
**Unrestricted funds**
General fund
**Restricted funds**
Baptist Trust Corporation
**TOTAL FUNDS**
Net movement in funds, included in the above are as follows:
Incoming
resources
£
**Unrestricted funds**
General fund
58,971
**Restricted funds**
Baptist Trust Corporation
-
**TOTAL FUNDS**
58,971|At 1.1.20
£
436,212
1,707,278
2,143,490
Resources
expended
£
(99,082)
-
(99,082)|31.12.20
£
10,426
Net
movement
in funds
£
(27,217)
33,503
6,286
Gains and
losses
£
12,894
33,503
46,397|£
322,664
322,664
322,664
31.12.19
£
13,827
At
31.12.20
£
408,995
1,740,781
2,149,776
Movement
in funds
£
(27,217)
33,503
6,286| |---|---|---|---| continued... Page 11 ## **Speen Baptist Church** ## **Notes to the Financial Statements - continued for the Year Ended 31 December 2020** ## **15. MOVEMENT IN FUNDS - continued** ## **Comparatives for movement in funds** |**Unrestricted funds**
General fund
**Restricted funds**
Baptist Trust Corporation
**TOTAL FUNDS**|At 1.1.19
£
383,737
1,707,278
2,091,015|Net
movement
in funds
£
52,475
-
52,475|At
31.12.19
£
436,212
1,707,278| |---|---|---|---| ||||2,143,490| Comparative net movement in funds, included in the above are as follows: |**Unrestricted funds**
General fund
**Restricted funds**
Ethiopia and India
Restoration Fund
Outreach
**TOTAL FUNDS**|Incoming
resources
£
101,803
1,580
2,810
230
4,620
106,423|Resources
Movement
expended
in funds
£
£
(49,328)
52,475
(1,580)
-
(2,810)
-
(230)
-
(4,620)
-
(53,948)
52,475| |---|---|---| A current year 12 months and prior year 12 months combined position is as follows: |**Unrestricted funds**
General fund
**Restricted funds**
Baptist Trust Corporation
**TOTAL FUNDS**|At 1.1.19
£
383,737
1,707,278
2,091,015|Net
movement
in funds
£
25,258
33,503
58,761|At
31.12.20
£
408,995
1,740,781| |---|---|---|---| ||||2,149,776| continued... Page 12 **Speen Baptist Church** ## **Notes to the Financial Statements - continued for the Year Ended 31 December 2020** ## **15. MOVEMENT IN FUNDS - continued** A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows: ||Incoming|Resources|Gains and|Movement| |---|---|---|---|---| ||resources|expended|losses|in funds| ||£|£|£|£| |**Unrestricted funds**||||| |General fund|160,774|(148,410)|12,894|25,258| |**Restricted funds**||||| |Ethiopia and India|1,580|(1,580)|-|-| |Restoration Fund|2,810|(2,810)|-|-| |Baptist Trust Corporation|-|-|33,503|33,503| |Outreach|230|(230)|-|-| ||4,620|(4,620)|33,503|33,503| |**TOTAL FUNDS**|165,394|(153,030)|46,397|58,761| ## **16. RELATED PARTY DISCLOSURES** There were no related party transactions for the year ended 31 December 2020. Page 13 ## **Speen Baptist Church** ||**Detailed Statement of Financial Activities**||| |---|---|---|---| ||**for the Year Ended 31 December 2020**||| |||31.12.20|31.12.19| |||£|£| |**INCOME AND ENDOWMENTS**|||| |**Donations and legacies**|||| |Donations||45,142|68,920| |Gift aid||10,584|13,827| |||55,726|82,747| |**Other trading activities**|||| |Fundraising events||-|602| |Burial Fees||-|620| |Chapel Hill Kitchen sales||3,295|13,743| |||3,295|14,965| |**Investment income**|||| |Rents received||(50)|8,711| |**Total incoming resources**||58,971|106,423| |**EXPENDITURE**|||| |**Investment management costs**|||| |Property repairs||37,514|9,479| |**Charitable activities**|||| |Wages||19,272|2,200| |Social security||3,394|-| |Pensions||6,474|3,553| |Rates and water||3,017|1,008| |Insurance||2,491|2,452| |Light and heat||3,353|2,605| |Telephone||830|621| |Postage and stationery||1,267|93| |Sundries||47|476| |Cleaning||1,438|1,192| |Computer costs||2,650|1,132| |Home Mission Contribution||1,320|1,320| |BMS Donation||1,320|1,320| |Ethiopia Donation||1,650|4,802| |Baptist Union Fees||169|175| |Graveyard||541|3,070| |Refreshments||453|544| |Donations made - outreach||300|5,400| |Professional fees restoration||355|288| |CCLI||366|368| |Carried forward||50,707|32,619| This page does not form part of the statutory financial statements Page 14 ## **Speen Baptist Church** ## **Detailed Statement of Financial Activities for the Year Ended 31 December 2020** ||31.12.20|31.12.19| |---|---|---| ||£|£| |**Charitable activities**||| |Brought forward|50,707|32,619| |Agape donations|1,600|1,300| |Events/speaker costs|2,938|4,683| |Fire extinguisher|186|194| |Chapel Hill Kitchen costs|1,655|5,065| |One can|2,200|-| |Wycombe Homeless Connection|1,700|-| ||60,986|43,861| |**Support costs**||| |**Finance**||| |Bank charges|186|230| |**Governance costs**||| |Accountancy and legal fees|396|378| |Total resources expended|99,082|53,948| |**Net (expenditure)/income before gains and**||| |**losses**|(40,111)|52,475| |**Unrealised recog gains/losses**||| |Unrealised gains/losses in prop|46,397|-| |**Net income**|6,286|52,475| This page does not form part of the statutory financial statements Page 15