REGISTERED CHARITY NUMBER: 1141385
REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
FOR
WOODFORD BAPTIST CHURCH
AJM Accountancy & Taxation Ltd 21 Goldings Close Kings Hill West Malling Kent ME19 4BE
WOODFORD BAPTIST CHURCH
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
| Page | |
|---|---|
| Report of the Trustees | 1 to 6 |
| Independent Examiner's Report | 7 |
| Statement of Financial Activities | 8 |
| Balance Sheet | 9 to 10 |
| Notes to the Financial Statements | 11 to 20 |
WOODFORD BAPTIST CHURCH
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022
The trustees present their report with the financial statements of the charity for the year ended 31 March 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).
The principal purpose of Woodford Baptist Church is the advancement of the Christian faith according to the principles of the Baptist denomination. The Church also engages in outreach to the wider community in South Woodford, and beyond.
OBJECTIVES AND ACTIVITIES
Objectives and aims
The Trustees are committed to enabling as many people as possible to worship at the Church, participate in its activities and for the Church to be involved in the local community in South Woodford.
When planning and carrying out our activities for the year, the Minster and Trustees have considered the Commission's guidance on public benefit and, in particular, the specific guidance on charities for the advancement of religion. We seek to enable people to live out their faith through: - Worship, prayer, Bible study and Christian discipleship
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Provision of pastoral care
-
Missionary and outreach work
To facilitate our work, we maintain the fabric of the Woodford Baptist Church building and the manse (Arlington Road).
Volunteers
The Church encourages the involvement of volunteers and we thank the members who so faithfully offer their service. The Church does not receive significant donations in kind or other intangible income.
Governance
The Trustees continued to meet online throughout the year, until the January 2022 Board meeting. Following advice from the Baptist Union and Charity Commission, the Church voted in amendments to the current constitution to formally permit and recognise electronic meetings, which also necessitated an amendment to increase the number of Trustee meetings to six per year, which started from January 2022.
During the year, we ensured the Church adhered to Covid-19 regulations in all activities, progressed policy development, and continued the review of our constitution.
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WOODFORD BAPTIST CHURCH
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022
ACHIEVEMENT AND PERFORMANCE Charitable activities
Coronavirus
Covid-19 legislation and guidelines continued to place restrictions on Church activities during the 2021-22 period.
The Trustees took a phased approach to opening up the Church building and returning to in-person activities, as regulations permitted. Sunday services recommenced in the building, with Covid-19 safety protocols in place, from 4 April 2021 and the building was opened up to other users from 12 April 2021. Further activities returned to the building gradually after the summer, with the trustees reviewing guidelines, infection rates and safety measures at regular intervals. We removed all restrictions from the end of March 2022 but agreed to keep in place the heightened cleaning regime and proactive approach to maintaining good hygiene in the Church building.
Our staff team continued to work from home, with gradually more days in the office as regulations permitted. Staff were also returned from furlough as the scheme drew to a close.
Membership
We welcomed several new people into Church membership during the year and saw a notable increase in visitors and new-comers to Sunday services, particularly once remaining Covid-19 restrictions were removed. We were also delighted to baptise a number of members.
Collective worship and teaching
Although we returned to the Church building for Sunday worship from Easter 2021, we continued to live stream the service on YouTube and, as a result, attracted several new in-person attendees.
Life groups continued to meet throughout the year both online and, when regulations permitted, in the Church building and back in people's homes.
Prayer ministry
Prayer is an important part of how Woodford Baptist Church communicates with God and is a major part of how we demonstrate our love for others in the community. We voted in a new Prayer Deacon, starting in January 2022, who worked alongside the Senior Pastor to start various prayer activities in the Church. This includes a weekly prayer meeting, attended by 8-12 people each week. The Prayer Deacon is also available during Sunday worship for anyone wanting one-to-one prayer.
Pastoral care and outreach
Primetime, the weekly gathering for tea, cake and company for the over-50s, returned to in-person meetings over summer 2021. Alongside the group leader, our Pastoral Care Deacon dropped in to chat with those attending and to keep up to date with any news, illnesses and hospital appointments.
Over Christmas 2021, we made up and delivered 150 Christmas gift bags for the Church neighbours, and 90 gift bags for residents of Homesdale housing scheme.
On Mothering Sunday 2022, we gave out 80 bunches of daffodils and cards to the ladies in Church.
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WOODFORD BAPTIST CHURCH
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022
In March 2022, we worked in partnership with Redbridge Council, Reconnect and other faith groups to collect items for Ukrainian refugees entering Romania. The Church building acted as a collection point over 48 hours for specified goods, and several Church members volunteered to take delivery of goods, pack them in boxes and load them onto the vans taking the goods to Romania.
We also launched a new partnership with Redbridge Foodbank to act as a satellite foodbank location, for people to collect food parcels from one a week.
Missions work
Woodford Baptist Church made overseas missions, to share the Christian faith, a priority for charitable giving during the year. The Church Leadership made a significant commitment to long term Christian mission through supporting UK training programmes, short term trips to support overseas Christian projects, short-term national and international missional training programmes and long-term support of several members serving with overseas missionary organisations.
The Church continued to support members working long-term for various Christian mission organisations through finance, prayer and fellowship and welcomed them back to the UK during periods of furlough, during which time they shared their recent experiences and future hopes with the Church. We increased our financial support to individual workers, in response to the increased costs of living.
The Church also provided financial support to the Baptist World Missions funds, primarily for projects supporting people from the Ukraine affected by war and displacement.
Church Members had little opportunity to plan or engage in new overseas mission activities during the last year due to Covid-19 restrictions, but it is expected that support will be available for new overseas Christian mission activities in time. The Leadership continue to review the current support of workers and new applications for financial support to ensure that the activities undertaken by organisations and individual workers remain within the Church statement of purpose.
Youth work
Online Mix and Encounter groups continued up until June 2021 and then returned to inperson once restrictions were eased. Groups were run with social distancing as much as possible, with masks and sanitising encouraged.
Mix, Friday evening social space, continued with creative activities such as baking, art and craft, and themed movie nights. There were several trips out, to crazy golf, a local cafe, Jump London and Nandos, both in and out of term-time. 12-15 young people attended per week, for year 7 upward; with three adult staff per session.
Encounter continued to run during the Sunday services, with a Bible based focus. 12 -18 young people attended each week, for year 6 upward; with two adult staff and one young leader per session
The Youth Pastor is part of a CYF (children, youth and family) support group via London Baptists.
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WOODFORD BAPTIST CHURCH
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022
ACHIEVEMENT AND PERFORMANCE Activities
Children's work
Children's activities returned to the Church building more slowly than for the young people, in part due to fewer volunteers to support the work and a key leader stepping down; and by March 2022 not all activities had returned. However, we have been extremely grateful for the work and commitment of those who have stepped up and taken the children's work forward.
Communications
The Church kept members up to date through a weekly email and active social media presence, as well as through word of mouth. The Church was also featured on BBC regional news in an item on the Ukrainian refugee collection appeal.
Church Fabric
In July 2021, we faced unprecedented flash flooding in the local area, which resulted in localised flood damage within the Church building. The senior pastor and volunteers quickly responded to minimise flooding on the day, but the ingress of water through a gap in the roof was substantial. The Trustees arranged emergency roof repairs and our insurers covered the costs of drying out the affected areas, internal repairs, redecoration and replacement of damaged goods and property.
The Trustees included funds in the 2022-23 budget for carrying out further work to the roof.
FINANCIAL REVIEW
Financial position
The Statement of Financial Activities shows total income for the year of £169,186 (2021: £270,917). Total expenditure for the year amounted to £131,402 (2021: £121,537), and the net income for the year amounted to £37,784 (2021: £149,379).
Total funds carried forward increased from £797,839 to £835,623, with general unrestricted reserves increasing from £102,269 to £110,308. Restricted funds representing the manse fund amounted to £68,475 at 31 March 20202 (2021: £77,550).
Reserves policy
The Trustees aim to hold general fund reserves of at least 3-6 months’ expenditure, in case these are needed for an unplanned expense such as major building repair or for the orderly winding down of activities should future giving be withdrawn.
General fund reserves stood at £110,308 on 31 March 2022, which represented approximately 10 months expenditure based on the year ended 31 March 2022. The Trustees do not consider releasing any reserves to be necessary, and it is expected that expenditure will continue to increase as the church continues to fully reopen its activities and grow following the cessation of Covid-19 related restrictions.
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WOODFORD BAPTIST CHURCH
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022
FUTURE PLANS
The Trustees continue to work towards the Church to become a Charitable Incorporated Organisation, in line with the precedent governing document from the Baptist Union. The Trustees also proposed that there should be a Trustee with particular responsibility for fabrics, to be voted in during the year 2022-23.
We give glory to God for all that He has provided during this year.
STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document
Woodford Baptist Church is a registered charity (No. 1141385), governed by a constitution.
Current Trustees are listed within this Report of the Trustees. Trustees are elected from church member at church members' meetings, in accordance with the Church's constitution.
The Trustees are responsible for all church activities, but work in co-operation with, and delegate to, a Leadership Team comprising of Elders and Deacons, also elected at church members' meetings.
The Trustees keep under review the major operational, financial and other risks to which the Church faces.
Key management remuneration
The total remuneration of key management personnel amounted to £35,746.
Affiliated charities
The Church is autonomous and self-governing, although affiliated to the Baptist Union, the London Baptist Association, the Evangelical Alliance and Partners In Harvest.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number
1141385
Principal address
32 George Lane South Woodford London E18 1LW
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WOODFORD BAPTIST CHURCH
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022
Trustees
Helen Clark Jo Waterfield (resigned 31.12.21) Rachel Aston Peter Sircar (resigned 8.1.22) Philip Woolley Jonathan Somerville Christopher Hickinbotham Kofi Antwi Debrah Kelly Michelle McNeil Jenny Marianne Escobar Chris Kriel (appointed 12.6.22)
Independent Examiner Andrew James Martin FCA AJM Accountancy & Taxation Ltd 21 Goldings Close Kings Hill West Malling Kent ME19 4BE
Bankers
Barclays Bank plc 207 High Road Loughton Essex IG19 1AZ
Solicitors
Carter Lemon Camerons 10 Aldersgate Street London EC1A 4HJ Approved by order of the board of trustees on 27 November 2022 and signed on its behalf by:
Rachel Aston - Trustee
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INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF WOODFORD BAPTIST CHURCH
Independent examiner's report to the trustees of Woodford Baptist Church
I report to the charity trustees on my examination of the accounts of Woodford Baptist Church (the Trust) for the year ended 31 March 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
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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.
Andrew James Martin FCA AJM Accountancy & Taxation Ltd 21 Goldings Close Kings Hill West Malling Kent ME19 4BE
27 November 2022
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WOODFORD BAPTIST CHURCH
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2022
| Unrestricted funds Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 2 119,897 Charitable activities Church charitable activities 938 Investment income 3 193 Other income 5 9,890 Total 130,918 EXPENDITURE ON Charitable activities 6 Church charitable activities 125,446 Other 8 - Total 125,446 NET INCOME 5,472 Transfers between funds 17 41,387 Net movement in funds 46,859 RECONCILIATION OF FUNDS Total funds brought forward 720,289 TOTAL FUNDS CARRIED FORWARD 767,148 |
Restricted funds £ 37,950 317 - - 38,267 4,215 1,740 5,955 32,312 (41,387) (9,075) 77,550 68,475 |
2022 Total funds £ 157,847 1,255 193 9,890 169,185 129,661 1,740 131,401 37,784 - 37,784 797,839 835,623 |
2021 Total funds £ 264,644 - 187 6,086 270,917 116,920 4,618 121,538 149,379 - 149,379 648,460 797,839 |
|---|---|---|---|
The notes form part of these financial statements
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WOODFORD BAPTIST CHURCH
BALANCE SHEET 31 MARCH 2022
| Notes FIXED ASSETS Tangible assets 12 CURRENT ASSETS Debtors 13 Cash at bank and in hand CREDITORS Amounts falling due within one year 14 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES CREDITORS Amounts falling due after more than one year 15 NET ASSETS |
Unrestricted Restricted funds funds £ £ 690,184 30,748 7,181 - 112,291 43,004 119,472 43,004 (30,271) (5,277) 89,201 37,727 779,385 68,475 (12,237) - 767,148 68,475 |
2022 Total funds £ 720,932 7,181 155,295 162,476 (35,548) 126,928 847,860 (12,237) 835,623 |
2021 Total funds £ 724,066 4,753 154,942 159,695 (32,298) 127,397 851,463 (53,624) 797,839 |
|---|---|---|---|
The notes form part of these financial statements
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WOODFORD BAPTIST CHURCH
BALANCE SHEET - continued 31 MARCH 2022
| FUNDS 17 Unrestricted funds: General fund Fixed asset reserve (designated) Restricted funds TOTAL FUNDS |
110,308 656,840 767,148 68,475 835,623 |
102,269 618,020 720,289 77,550 797,839 |
|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 27 November 2022 and were signed on its behalf by:
Rachel Aston - Trustee
The notes form part of these financial statements
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WOODFORD BAPTIST CHURCH
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 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.
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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 10% on cost Equipment, Fixtures & Fittings - at varying rates on cost
The depreciable value of freehold buildings is depreciated over a useful economic life of 50 years. However, as the residual value is considered to be not lower than the original cost, no depreciation is chargeable. Freehold land is not depreciated.
Taxation
The charity is exempt from tax on its charitable activities. Value Added Tax is not recoverable by the Church, and is therefore included in the relevant costs in the Statement of Financial Activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the Trustees. Designated funds are unrestricted funds earmarked by the Trustees for particular purposes.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The cost of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.
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WOODFORD BAPTIST CHURCH
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022
1. ACCOUNTING POLICIES - continued
Fund accounting
Investment income and gains are allocated to the appropriate fund.
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.
Going concern
The charity is entirely dependent on continuing donations from the membership and, as a consequence, the going concern basis is also dependent on these continuing.
Estimates and judgements made in preparing the accounts
As part of the estimates and judgements made in preparing the accounts, the trustees considered the depreciation policies, residual values of assets and estimated useful economic lives. The value of short-term employee benefits representing an accrual for holiday pay have been considered as not material to the financial statements.
2. DONATIONS AND LEGACIES
| Unrestricted funds £ Donations 109,706 Gift aid 10,191 119,897 |
Restricted funds £ 34,986 2,964 37,950 |
2022 Total funds £ 144,692 13,155 157,847 |
2021 Total funds £ 248,271 16,373 264,644 |
|---|---|---|---|
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WOODFORD BAPTIST CHURCH
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022
3. INVESTMENT INCOME
| Unrestricted funds £ Deposit account interest 193 4. INCOME FROM CHARITABLE ACTIVITIES Activity Youth & children's activities Church charitable activities Other events Church charitable activities 5. OTHER INCOME Unrestricted funds £ Use of church premises 9,810 Other events 80 9,890 6. CHARITABLE ACTIVITIES COSTS Church charitable activities |
Restricted funds £ - Restricted funds £ - - - Direct Costs (see note 7) £ 129,524 |
2022 Total funds £ 193 2022 £ 337 918 1,255 2022 Total funds £ 9,810 80 9,890 Support costs £ **137 ** |
2021 Total funds £ 187 2021 £ - - - 2021 Total funds £ 2,650 3,436 6,086 Totals £ **129,661 ** |
|---|---|---|---|
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WOODFORD BAPTIST CHURCH
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022
7. DIRECT COSTS OF CHARITABLE ACTIVITIES
| Staff costs Provision of accommodation Bookkeeping services Travel & other staff expenses Church building & equipment Events & youth costs Gifts to missionaries Administration & subscriptions Depreciation |
2022 £ 66,765 7,660 2,888 2,157 14,803 6,496 15,246 7,934 5,575 129,524 |
2021 £ 63,122 6,465 3,096 412 9,105 5,570 14,321 9,205 5,490 116,786 |
|---|---|---|
| 8. OTHER Unrestricted Restricted funds funds £ £ Interest payable and similar charges - 1,740 |
2022 Total funds £ 1,740 |
2021 Total funds £ 4,618 |
|---|---|---|
9. TRUSTEES' REMUNERATION AND BENEFITS
During the year one Trustee received emoluments (including contributions to a pension scheme) of £35,746 (2021: £31,186) and free accommodation in a manse as part of the terms of their employment as Pastor.
During the year one Trustee received emoluments (including contributions to a pension scheme) of £13,913 (2021: £13,848) as part of the terms of their employment as Youth Pastor.
Trustees' expenses
No out of pocket expenses were reimbursed to the trustees during the year ended 31 March 2022 nor the year ended 31 March 2021 excluding amounts reimbursed in purchasing goods or services directly for the charity.
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WOODFORD BAPTIST CHURCH
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022
| 10. STAFF COSTS 2022 £ Wages and salaries 63,635 Social security costs 42 Other pension costs 3,088 66,765 The average monthly number of employees during the year was as follows: 2022 Charitable activities 3 Management and administration 1 4 No employees received emoluments in excess of £60,000. |
2021 £ 60,224 - 2,898 63,122 2021 3 1 4 |
|---|---|
| 11. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted Restricted funds funds £ £ INCOME AND ENDOWMENTS FROM Donations and legacies 114,702 149,942 Investment income 187 - Other income 6,086 - Total 120,975 149,942 EXPENDITURE ON Charitable activities Church charitable activities 111,723 5,197 Other 36 4,582 Total 111,759 9,779 NET INCOME 9,216 140,163 Transfers between funds 122,247 (122,247) Net movement in funds 131,463 17,916 |
Total funds £ 264,644 187 6,086 270,917 116,920 4,618 121,538 149,379 - 149,379 |
|---|---|
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WOODFORD BAPTIST CHURCH
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022
| 11. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued |
|---|---|---|---|---|---|
| Unrestricted | Restricted |
Total | |||
| funds | funds | funds | |||
| £ | £ | £ | |||
| RECONCILIATION OF FUNDS | |||||
| Total funds brought forward | 588,826 | 59,634 | 648,460 | ||
| TOTAL FUNDS CARRIED FORWARD | 720,289 | 77,550 | 797,839 | ||
| 12. | TANGIBLE FIXED ASSETS | ||||
| Improvements | Equipment, | ||||
| Freehold | to |
Fixtures | |||
| property | property |
& Fittings | Totals | ||
| £ | £ | £ | £ | ||
| COST | |||||
| At 1 April 2021 | 708,000 | 12,121 | 92,379 | 812,500 | |
| Additions | - | - | 2,440 | 2,440 | |
| At 31 March 2022 | 708,000 | 12,121 | 94,819 | 814,940 | |
| DEPRECIATION | |||||
| At 1 April 2021 | - | 4,925 | 83,509 | 88,434 | |
| Charge for year | - | 1,212 | 4,362 | 5,574 | |
| At 31 March 2022 | - | 6,137 | 87,871 | 94,008 | |
| NET BOOK VALUE | |||||
| At 31 March 2022 | 708,000 | 5,984 | 6,948 | 720,932 | |
| At 31 March 2021 | 708,000 | 7,196 | 8,870 | 724,066 |
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WOODFORD BAPTIST CHURCH
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022
| 13. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2022 £ Other debtors 4,747 Prepayments 2,434 7,181 14. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2022 £ Other loans (see note 16) 21,107 Trade creditors 8,373 Accrued expenses 6,068 35,548 15. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR 2022 £ Other loans (see note 16) 12,237 16. LOANS An analysis of the maturity of loans is given below: 2022 £ Amounts falling due within one year on demand: Other loans 21,107 Amounts falling between one and two years: Other loans - 1-2 years 12,237 Amounts falling due between two and five years: Other loans - 2-5 years - |
2021 £ 2,101 2,652 4,753 2021 £ 21,107 7,954 3,237 32,298 2021 £ 53,624 2021 £ 21,107 21,107 32,517 |
|---|---|
During the year ended 31 March 2019, the charity took out a loan with the London Baptist Property Board for £211,072 to part-finance the purchase of a new manse. The loan was established as being payable by quarterly instalments over a period of 10 years which commenced from 30 June 2019. Additional voluntary donations were received during the year specifically towards the repayment of the loan which has been used for that purpose and therefore the loan is expected to be repaid within the next 2 financial years.
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WOODFORD BAPTIST CHURCH
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022
17. MOVEMENT IN FUNDS
| Net movement At 1.4.21 in funds £ £ Unrestricted funds General fund 102,269 5,472 Fixed asset reserve (designated) 618,020 - 720,289 5,472 Restricted funds Other - 1,250 Manse restricted fund 52,550 31,062 Manse improvements restricted fund 25,000 - 77,550 32,312 TOTAL FUNDS 797,839 37,784 Net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 130,918 Restricted funds Other 4,897 Manse restricted fund 33,370 38,267 TOTAL FUNDS 169,185 |
Transfers between funds £ 2,567 38,820 41,387 - (41,387) - (41,387) - Resources expended £ (125,446) (3,647) (2,308) (5,955) **(131,401) ** |
At 31.3.22 £ 110,308 656,840 767,148 1,250 42,225 25,000 68,475 835,623 Movement in funds £ 5,472 1,250 31,062 32,312 37,784 |
|---|---|---|
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WOODFORD BAPTIST CHURCH
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022
17. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| Unrestricted funds General fund Fixed asset reserve (designated) Restricted funds Manse restricted fund Manse improvements restricted fund TOTAL FUNDS |
At 1.4.20 £ 89,955 498,871 588,826 59,634 - 59,634 648,460 |
Net movement in funds £ 9,216 - 9,216 115,163 25,000 140,163 149,379 |
Transfers between funds £ 3,098 119,149 122,247 (122,247) - (122,247) - |
At 31.3.21 £ 102,269 618,020 720,289 52,550 25,000 77,550 797,839 |
|---|---|---|---|---|
Comparative net movement in funds, included in the above are as follows:
| Unrestricted funds General fund Restricted funds Other Manse restricted fund Manse improvements restricted fund TOTAL FUNDS |
Incoming resources £ 120,975 4,629 120,313 25,000 149,942 270,917 |
Resources expended £ (111,759) (4,629) (5,150) - (9,779) (121,538) |
Movement in funds £ 9,216 - 115,163 25,000 140,163 149,379 |
|---|---|---|---|
The fixed asset reserve is a fund designated by the Trustees. Each year the movement on the net book value of the fixed asset fund is transferred between the general (unrestricted) fund and the designated (unrestricted fund).
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WOODFORD BAPTIST CHURCH
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022
17. MOVEMENT IN FUNDS - continued
The manse fund is a restricted fund specifically for the church manse, contributed to by donations used towards manse purchase costs, running costs, loan finance charges and loan repayments. The manse is used to accommodate the Senior Minister (who is also a Trustee) and family. Each year a transfer is made from the manse fund to the fixed asset reserve fund (in which the manse loan from the London Property Board is held) representing the loan capital repaid from the manse fund contributions.
The manse improvement fund is a restricted fund specifically for the upkeep and improvement of the church manse, contributed to by donations.
18. RELATED PARTY DISCLOSURES
The spouse of a trustee is an existing employee of the charity providing caretaking, health & safety services, whose total remuneration amounted to £9,027.
19. ULTIMATE CONTROLLING PARTY
The charity is controlled by the Trustees, as shown on page 6, meeting together.
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