REGISTERED CHARITY NUMBER: 1140734
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2021
FOR
SPEEN BAPTIST CHURCH
Haines Watts (Berkhamsted) Limited 4 Claridge Court Lower Kings Road Berkhamsted Hertfordshire HP4 2AF
SPEEN BAPTIST CHURCH
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2021
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 2 |
| Independent Examiner's Report | 3 | ||
| Statement of Financial Activities | 4 | ||
| Balance Sheet | 5 | ||
| Notes to the Financial Statements | 6 | to | 10 |
| Detailed Statement of Financial Activities | 11 | to | 12 |
SPEEN BAPTIST CHURCH
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST DECEMBER 2021
The trustees present their report with the financial statements of the charity for the year ended 31st December 2021. 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
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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. These were online for part of the year due to Covid, but it has been a joy to come together in person much more than in 2020. 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 2021 to bless the community with a toddler group and various one-off events.
2021 saw Speen Church continuing to 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.
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. Hospitality events, the Tiddlers and Toddlers group, and our routine church activities will continue for the foreseeable future.
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SPEEN BAPTIST CHURCH
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST DECEMBER 2021
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 Chapel Hill Speen Princes Risborough Buckinghamshire HP27 0SP
Trustees
Ms J Pearce Mr S Booth Mr J Entwisle Ms J Hearn Rev T Deller Ms A Wright
Independent Examiner
Haines Watts (Berkhamsted) Limited 4 Claridge Court Lower Kings Road Berkhamsted Hertfordshire HP4 2AF
23/10/2022 Approved by order of the board of trustees on ............................................. and signed on its behalf by:
........................................................................ Mr J Entwisle - Trustee
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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 31st December 2021.
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:
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accounting records were not kept in respect of the Trust as required by section 130 of the Act; or
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the accounts do not accord with those records; or
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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 (Berkhamsted) Limited 4 Claridge Court Lower Kings Road Berkhamsted Hertfordshire HP4 2AF
Date: .............................................
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SPEEN BAPTIST CHURCH
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST DECEMBER 2021
| 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 RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD |
Unrestricted fund £ 49,709 613 - 50,322 3,103 61,018 64,121 40,497 26,698 408,995 435,693 |
Restricted funds £ 6,635 - - 6,635 660 5,975 6,635 149,538 149,538 1,740,781 1,890,319 |
31/12/21 Total funds £ 56,344 613 - 56,957 3,763 66,993 70,756 190,035 176,236 2,149,776 2,326,012 |
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 |
|---|---|---|---|---|
The notes form part of these financial statements
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SPEEN BAPTIST CHURCH
BALANCE SHEET 31ST DECEMBER 2021
| Notes FIXED ASSETS Tangible assets 11 Investment property 12 CURRENT ASSETS Debtors 13 Cash at bank NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS FUNDS 14 Unrestricted funds Restricted funds TOTAL FUNDS |
Unrestricted fund £ 404,781 - 404,781 9,173 21,739 30,912 30,912 435,693 435,693 |
Restricted funds £ 1,567,655 322,664 1,890,319 - - - - 1,890,319 1,890,319 |
31/12/21 Total funds £ 1,972,436 322,664 2,295,100 9,173 21,739 30,912 30,912 2,326,012 2,326,012 435,693 1,890,319 2,326,012 |
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 |
|---|---|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 23/10/2022 ............................................. and were signed on its behalf by:
............................................. Mr J Entwisle - Trustee
The notes form part of these financial statements
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SPEEN BAPTIST CHURCH
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2021
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 minister and is included in the accounts at the market 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...
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SPEEN BAPTIST CHURCH
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST DECEMBER 2021
| 2. DONATIONS AND LEGACIES Donations Gift aid 3. OTHER TRADING ACTIVITIES Chapel Hill Kitchen sales 4. INVESTMENT INCOME Rents received 5. RAISING FUNDS Investment management costs Property repairs 6. CHARITABLE ACTIVITIES COSTS Cost of Charitable Activities 7. SUPPORT COSTS Cost of Charitable Activities 8. TRUSTEES' REMUNERATION AND BENEFITS |
31/12/21 31/12/20 £ £ 44,865 45,142 11,479 10,584 56,344 55,726 31/12/21 31/12/20 £ £ 613 3,295 31/12/21 31/12/20 £ £ - (50) 31/12/21 31/12/20 £ £ 3,763 37,514 Support Direct costs (see Costs note 7) Totals £ £ £ 66,311 682 66,993 Governance Finance costs Totals £ £ £ 268 414 682 |
|---|---|
During the year, Rev T Deller received remuneration of £26,750 (2020: £21,458).
continued...
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SPEEN BAPTIST CHURCH
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST DECEMBER 2021
8. TRUSTEES' REMUNERATION AND BENEFITS - continued
Trustees' expenses
During the year, members of the board of trustees Ms J Pearce & Mr J Entwisle received reimbursement of £1,878 & £142.
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. 10. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted fund £ INCOME AND ENDOWMENTS FROM Donations and legacies 55,726 Other trading activities 3,295 Investment income (50) Total 58,971 EXPENDITURE ON Raising funds 37,514 Charitable activities Cost of Charitable Activities 61,568 Total 99,082 Net gains on investments 12,894 NET INCOME/(EXPENDITURE) (27,217) RECONCILIATION OF FUNDS Total funds brought forward 436,212 |
31/12/21 £ 29,150 (256) 7,426 36,320 31/12/21 2 Restricted funds £ - - - - - - - 33,503 33,503 1,707,278 |
31/12/20 £ 19,272 3,394 6,474 29,140 31/12/20 2 Total funds £ 55,726 3,295 (50) 58,971 37,514 61,568 99,082 46,397 6,286 2,143,490 |
|---|---|---|
continued...
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SPEEN BAPTIST CHURCH
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST DECEMBER 2021
| 10. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted fund £ TOTAL FUNDS CARRIED FORWARD 408,995 11. TANGIBLE FIXED ASSETS Freehold Church property Manse £ £ COST OR VALUATION At 1st January 2021 1,372,064 364,284 Revaluations 149,538 32,420 At 31st December 2021 1,521,602 396,704 NET BOOK VALUE At 31st December 2021 1,521,602 396,704 At 31st December 2020 1,372,064 364,284 Cost or valuation at 31st December 2021 is represented by: Freehold Church property Manse £ £ Valuation in 2020 33,503 12,894 Valuation in 2021 149,538 32,420 Cost 1,338,561 351,390 1,521,602 396,704 12. INVESTMENT PROPERTY FAIR VALUE At 1st January 2021 and 31st December 2021 NET BOOK VALUE At 31st December 2021 At 31st December 2020 |
- continued Restricted funds £ 1,740,781 Fixtures and fittings £ 46,053 8,077 54,130 54,130 46,053 Fixtures and fittings £ - 8,077 46,053 54,130 |
Total funds £ 2,149,776 Totals £ 1,782,401 190,035 1,972,436 1,972,436 1,782,401 Totals £ 46,397 190,035 1,736,004 1,972,436 £ 322,664 322,664 322,664 |
|
|---|---|---|---|
continued...
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SPEEN BAPTIST CHURCH
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST DECEMBER 2021
13. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| 31/12/21 | 31/12/20 | |
|---|---|---|
| £ | £ | |
| Other debtors | 9,173 | 10,426 |
14. MOVEMENT IN FUNDS
In the current year the statement of financial activities shows a transfer between the unrestricted general fund and the restricted funds This was for the purpose of avoiding a deficit in what are restricted funds.
Below are the restricted funds with amounts transferred to them:
Ethiopia: Transferred £2,900 income from the general fund.
Restoration Fund: Transferred £660 income from the general fund.
Agape: Transferred £2,400 income from the general fund.
Outreach: Transferred £675 income from the general fund.
15. EMPLOYEE BENEFIT OBLIGATIONS
The charity operates a defined contribution pension scheme. Contributions payable by the charity amounted to £6,295 (2020: £6,474).
16. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31st December 2021.
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SPEEN BAPTIST CHURCH
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST DECEMBER 2021
| 31/12/21 | 31/12/20 | |
|---|---|---|
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Donations and legacies | ||
| Donations | 44,865 | 45,142 |
| Gift aid | 11,479 | 10,584 |
| Other trading activities | 56,344 | 55,726 |
| Chapel Hill Kitchen sales | 613 | 3,295 |
| Investment income | ||
| Rents received | - | (50) |
| Total incoming resources | 56,957 | 58,971 |
| EXPENDITURE | ||
| Investment management costs | ||
| Property repairs | 3,763 | 37,514 |
| Charitable activities | ||
| Wages | 29,150 | 19,272 |
| Social security | (256) | 3,394 |
| Pensions | 7,426 | 6,474 |
| Rates and water | 3,302 | 3,017 |
| Insurance | 2,517 | 2,491 |
| Light and heat | 3,287 | 3,353 |
| Telephone | 874 | 830 |
| Postage and stationery | 537 | 1,267 |
| Sundries | 226 | 47 |
| Cleaning | 1,575 | 1,438 |
| Computer costs | 519 | 2,650 |
| Home Mission Contribution | 1,320 | 1,320 |
| BMS Donation | 2,070 | 1,320 |
| Ethiopia Donation | 2,900 | 1,650 |
| Baptist Union Fees | 128 | 169 |
| Graveyard | 315 | 541 |
| Refreshments | 215 | 453 |
| Donations made - outreach | 675 | 300 |
| Professional fees restoration | 3,690 | 355 |
| CCLI | 429 | 366 |
| Agape donations | 2,400 | 1,600 |
| Events/speaker costs | 2,294 | 2,938 |
| Fire extinguisher | 197 | 186 |
| Chapel Hill Kitchen costs | 223 | 1,655 |
| One can | - | 2,200 |
| Wycombe Homeless Connection | - | 1,700 |
| Children's work | 198 | - |
| Carried forward | 66,211 | 60,986 |
This page does not form part of the statutory financial statements
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SPEEN BAPTIST CHURCH
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST DECEMBER 2021
| 31/12/21 | 31/12/20 | |
|---|---|---|
| £ | £ | |
| Charitable activities | ||
| Brought forward | 66,211 | 60,986 |
| Conferences | 100 | - |
| Support costs | 66,311 | 60,986 |
| Finance | ||
| Bank charges | 268 | 186 |
| Governance costs | ||
| Accountancy and legal fees | 414 | 396 |
| Total resources expended | 70,756 | 99,082 |
| Net expenditure before gains and losses | (13,799) | (40,111) |
| Unrealised recog gains/losses | ||
| Unrealised gains/losses in prop | 190,035 | 46,397 |
| Net income | 176,236 | 6,286 |
This page does not form part of the statutory financial statements
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