REGISTERED CHARITY NUMBER: 1140734
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 31 December 2022
for
Speen Baptist Church
Haines Watts (Berkhamsted) Limited Chartered Accountants 4 Claridge Court Lower Kings Road Berkhamsted Hertfordshire HP4 2AF
Speen Baptist Church
Contents of the Financial Statements for the Year Ended 31 December 2022
| 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 | 11 |
Speen Baptist Church
Report of the Trustees
for the Year Ended 31 December 2022
The trustees present their report with the financial statements of the charity for the year ended 31 December 2022. 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. 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 2022 to bless the community with a toddler group and various one-off events.
2022 saw Speen Church continuing to evolve in our ability to benefit the local community especially given the cost of living crisis and the war in Ukraine. We have welcomed Ukrainian refugees into the fellowship, as well as building relationships with other local people including refugees from other nations. We also 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 reasonable 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 aim 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 serving the local community as well as through maintaining the church facilities and the other general expenditure of the church. All of this supports 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 and financial review 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 31 December 2022
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 below 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 Revd T Deller Ms A Wright
Independent Examiner Haines Watts (Berkhamsted) Limited Chartered Accountants 4 Claridge Court Lower Kings Road Berkhamsted Hertfordshire HP4 2AF
27/10/2023 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 31 December 2022.
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:
-
accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or
-
the accounts do not accord with those records; or
-
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.
Bianca Permal FCA
Haines Watts (Berkhamsted) Limited Chartered Accountants 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 31 December 2022
| Notes INCOME AND ENDOWMENTS FROM Donations and legacies 2 Other trading activities 3 Total EXPENDITURE ON Raising funds 4 Charitable activities 5 Cost of Charitable Activities Total Net gains/(losses) on investments NET INCOME/(EXPENDITURE) RECONCILIATION OF FUNDS Total funds brought forward As previously reported Prior year adjustment 10 As restated TOTAL FUNDS CARRIED FORWARD |
Unrestricted fund £ 61,263 721 61,984 8,316 57,040 65,356 82,431 79,059 435,693 - 435,693 514,752 |
Restricted funds £ 660 - 660 660 - 660 153,701 153,701 1,890,319 (322,664) 1,567,655 1,721,356 |
31.12.22 Total funds £ 61,923 721 62,644 8,976 57,040 66,016 236,132 232,760 2,326,012 (322,664) 2,003,348 2,236,108 |
31.12.21 Total funds as restated £ 56,344 613 |
|---|---|---|---|---|
| 56,957 | ||||
| 3,763 66,993 |
||||
| 70,756 | ||||
| (132,629) | ||||
| (146,428) 2,149,776 - |
||||
| 2,149,776 | ||||
| 2,003,348 |
The notes form part of these financial statements
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Speen Baptist Church
Balance Sheet 31 December 2022
| Notes FIXED ASSETS Tangible assets 11 CURRENT ASSETS Debtors 12 Cash at bank NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS FUNDS 13 Unrestricted funds Restricted funds TOTAL FUNDS |
Unrestricted fund £ 487,212 9,173 18,367 27,540 27,540 514,752 514,752 |
Restricted funds £ 1,721,356 - - - - 1,721,356 1,721,356 |
31.12.22 Total funds £ 2,208,568 9,173 18,367 27,540 27,540 2,236,108 2,236,108 514,752 1,721,356 2,236,108 |
31.12.21 Total funds as restated £ 1,972,436 9,173 21,739 |
|---|---|---|---|---|
| 30,912 | ||||
| 30,912 | ||||
| 2,003,348 | ||||
| 2,003,348 | ||||
| 435,693 1,567,655 |
||||
| 2,003,348 |
The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by: 27/10/2023
............................................. 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 31 December 2022
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.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.
Tangible fixed assets
Tangible fixed assets are recognised at cost initially but annually revalued to their insured amount as this is deemed the most appropriate basis for valuing the assets.
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 31 December 2022
2. DONATIONS AND LEGACIES
| 2. | DONATIONS AND LEGACIES | |||
|---|---|---|---|---|
| 31.12.22 | 31.12.21 | |||
| as restated | ||||
| £ | £ | |||
| Donations | 51,443 | 44,865 | ||
| Gift aid | 9,195 | 11,479 | ||
| Hall Hire | 595 | - | ||
| VAT Rebate | 690 | - | ||
| 61,923 | 56,344 | |||
| 3. | OTHER TRADING ACTIVITIES | |||
| 31.12.22 | 31.12.21 | |||
| as restated | ||||
| £ | £ | |||
| Burial Fees | 250 | - | ||
| Chapel Hill Kitchen sales | 471 | 613 | ||
| 721 | 613 | |||
| 4. | RAISING FUNDS | |||
| Investment management costs | ||||
| 31.12.22 | 31.12.21 | |||
| as restated | ||||
| £ | £ | |||
| Property repairs | 8,276 | 3,763 | ||
| Maintenance charges | 700 | - | ||
| 8,976 | 3,763 | |||
| 5. | CHARITABLE ACTIVITIES COSTS | |||
| Support | ||||
| Direct | costs (see | |||
| Costs | note 6) | Totals | ||
| £ | £ | £ | ||
| Cost of Charitable Activities | 56,323 | 717 | 57,040 |
continued...
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Speen Baptist Church
Notes to the Financial Statements - continued for the Year Ended 31 December 2022
6. SUPPORT COSTS
| SUPPORT COSTS | |||
|---|---|---|---|
| Governance | |||
| Finance | costs | Totals | |
| £ | £ | £ | |
| Cost of Charitable Activities | 279 | 438 | 717 |
7. TRUSTEES' REMUNERATION AND BENEFITS
During the year, Rev T Deller received remuneration of £26,750 (2021: £26,750).
Trustees' expenses
During the year, members of the board of trustees; Ms J Pearce and Mr J Entwisle received reimbursement of £173.40 (2021:£1,878) and £255.09 (2021: £142) respectively.
8. STAFF COSTS
| Wages and salaries Social security costs Other pension costs The average monthly number of employees during the year was as Ministry team No employees received emoluments in excess of £60,000. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES INCOME AND ENDOWMENTS FROM Donations and legacies Other trading activities Total EXPENDITURE ON Raising funds Charitable activities Cost of Charitable Activities Total |
follows: Unrestricted fund £ 49,709 613 50,322 3,103 61,018 64,121 |
31.12.22 £ 28,150 - 6,139 34,289 31.12.22 2 Restricted funds £ 6,635 - 6,635 660 5,975 6,635 |
31.12.21 as restated £ 29,150 (256) 7,426 36,320 31.12.21 as restated 2 Total funds as restated £ 56,344 613 |
31.12.21 as restated £ 29,150 (256) 7,426 36,320 31.12.21 as restated 2 Total funds as restated £ 56,344 613 |
|---|---|---|---|---|
| 56,957 | ||||
| 3,763 66,993 |
||||
| 70,756 |
9. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
continued...
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Speen Baptist Church
Notes to the Financial Statements - continued for the Year Ended 31 December 2022
9. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued
| Net gains/(losses) on investments NET INCOME/(EXPENDITURE) RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD |
Unrestricted fund £ 40,497 26,698 408,995 435,693 |
Restricted funds £ (173,126) (173,126) 1,740,781 1,567,655 |
Total funds as restated £ |
|---|---|---|---|
| (132,629) | |||
| (146,428) 2,149,776 |
|||
| 2,003,348 |
10. PRIOR YEAR ADJUSTMENT
A prior year adjustment was made to remove the historic cost valuation of the investment property, which had been incorrectly classified. This adjustment had a financial impact of £322,664 on both the Statement of Financial Activities and the Balance Sheet. All property is now valued at insurance valuation.
11. TANGIBLE FIXED ASSETS
| Freehold property £ COST OR VALUATION At 1 January 2022 1,521,602 Revaluations 153,701 At 31 December 2022 1,675,303 NET BOOK VALUE At 31 December 2022 1,675,303 At 31 December 2021 1,521,602 Cost or valuation at 31 December 2022 is represented by: Freehold property £ Valuation in 2020 33,503 Valuation in 2021 149,538 Valuation in 2022 153,701 Cost 1,338,561 1,675,303 |
Church Manse £ 396,704 76,963 473,667 473,667 396,704 Church Manse £ 12,894 32,420 76,963 351,390 473,667 |
Fixtures and fittings £ 54,130 5,468 59,598 59,598 54,130 Fixtures and fittings £ - 8,077 5,468 46,053 59,598 |
Totals £ 1,972,436 236,132 |
|---|---|---|---|
| 2,208,568 | |||
| 2,208,568 | |||
| 1,972,436 | |||
| Totals £ 46,397 190,035 236,132 1,736,004 |
|||
| 2,208,568 |
continued...
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Speen Baptist Church
Notes to the Financial Statements - continued for the Year Ended 31 December 2022
12. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| Other debtors 13. MOVEMENT IN FUNDS Unrestricted funds General fund Restricted funds Baptist Union Corporation TOTAL FUNDS Net movement in funds, included in the above ar Unrestricted funds General fund Restricted funds Restoration Fund Baptist Union Corporation TOTAL FUNDS Comparatives for movement in funds Unrestricted funds General fund Restricted funds Baptist Union Corporation TOTAL FUNDS |
At 1.1.22 £ 435,693 1,890,319 2,326,012 e as follows: Incoming resources £ 61,984 660 - 660 62,644 |
Prior year adjustment £ - (322,664) (322,664) Resources expended £ (65,356) (660) - (660) (66,016) At 1.1.21 £ 408,995 1,740,781 2,149,776 |
31.12.22 £ 9,173 Net movement in funds £ 79,059 153,701 232,760 Gains and losses £ 82,431 - 153,701 153,701 236,132 Net movement in funds £ 26,698 (173,126) (146,428) |
31.12.21 as restated £ 9,173 At 31.12.22 £ 514,752 1,721,356 2,236,108 Movement in funds £ 79,059 - 153,701 153,701 232,760 At 31.12.21 £ 435,693 1,567,655 2,003,348 |
|---|---|---|---|---|
| e |
continued...
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Speen Baptist Church
Notes to the Financial Statements - continued for the Year Ended 31 December 2022
13. MOVEMENT IN FUNDS - continued
Comparative net movement in funds, included in the above are as follows:
| Unrestricted funds General fund Restricted funds Ethiopia and India Restoration Fund Agape Baptist Union Corporation Outreach TOTAL FUNDS |
Incoming resources £ 50,322 2,900 660 2,400 - 675 6,635 56,957 |
Resources expended £ (64,121) (2,900) (660) (2,400) - (675) (6,635) (70,756) |
Gains and Movement losses in funds £ £ 40,497 26,698 - - - - - - (173,126) (173,126) - - (173,126) (173,126) (132,629) (146,428) |
|---|---|---|---|
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:
Restoration Fund: Transferred £660 income from the general fund.
The restricted funds comprise the chapel and hall buildings which are held under trust by the Baptist Union Corporation. The terms of the trust restrict any sale or material change of use of these buildings.
14. EMPLOYEE BENEFIT OBLIGATIONS
The charity operates a defined contribution pension scheme. Contributions payable by the charity amounted to £6,139 (2021: £6,295).
15. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31st December 2022 (2021:Nil).
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