**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
- 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.
Page 1
## **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.
Page 2
## **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.
Page 3
## **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.
Page 4
## **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
Page 5
## **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
Page 6
## **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:
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.
Andrew James Martin FCA AJM Accountancy & Taxation Ltd 21 Goldings Close Kings Hill West Malling Kent ME19 4BE
27 November 2022
Page 7
## **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
Page 8
## **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
Page 9
continued...
## **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
Page 10
## **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.
Page 11
continued...
## **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|
|---|---|---|---|
Page 12
continued...
## **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 **|
|---|---|---|---|
Page 13
continued...
## **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.
Page 14
continued...
## **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|
|---|---|
Page 15
continued...
## **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|
Page 16
continued...
## **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.
Page 17
continued...
## **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**|
|---|---|---|
Page 18
continued...
## **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).
Page 19
continued...
## **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.
Page 20