**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
- 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.
Page 1
**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
Page 2
## **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:
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 (Berkhamsted) Limited 4 Claridge Court Lower Kings Road Berkhamsted Hertfordshire HP4 2AF
Date: .............................................
Page 3
## **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
Page 4
## **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
Page 5
**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...
Page 6
## **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...
Page 7
**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...
Page 8
**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...
Page 9
**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.
Page 10
## **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
Page 11
**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
Page 12