**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.
Page 1
**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
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 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:
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.
Bianca Permal FCA
Haines Watts (Berkhamsted) Limited Chartered Accountants 4 Claridge Court Lower Kings Road Berkhamsted Hertfordshire HP4 2AF
Date: .............................................
Page 3
## **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
Page 4
## **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
Page 5
**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...
Page 6
## **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...
Page 7
**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...
Page 8
## **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...
Page 9
## **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...
Page 10
**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).
Page 11