COWES BAPTIST CHURCH
Registered Address
Victoria Road Cowes Isle of Wight. PO31 7JJ
Registered Charity No 1143075
Trustees
Mrs Judith Compton Minister Mrs Elaine Cherry Treasurer Mrs Tracey Dancy Secretary Mrs Beatrice Breach Deacon Mr Andrew Breach Deacon Mr Christopher Old Deacon Mr Hamish Wilson Deacon Mr Graham Cherry Deacon Mr Rex Goldsmith Deacon
Property Trustees
The Baptist Union Corporation Limited Baptist House 129 Broadway Didcot Oxfordshire OX11 8RT
Bankers
Barclays Bank St. James Square, Newport, I.W. PO30 1UP
CCLA Investment Management Ltd.
Independent Examiner
A H Cross & Co
COWES BAPTIST CHURCH
Annual Report for 2020
The trustees present their Annual Report and financial statements for the year ended December 31 2020.
Charitable Object
The Charity is governed by an Approved Governing Document which states that the principal purpose of the Church is the advancement of the Christian faith according to the principles of the Baptist denomination. The Church may also advance education and carry out other charitable purposes in the United Kingdom and/or other parts of the world. The Church occupies premises which are held by the Baptist Union Corporation Ltd as holding trustees, on Trusts which are entirely compatible with the above object.
Organisational Structure and Decision making processes
Baptism by immersion upon personal profession of faith is the normal mode of entry into the membership of the church. Persons seeking membership who have not been baptised in the manner described may at the discretion of the Church Members’ Meeting be accepted for full membership based on their own public profession of faith.
The Members’ Meeting normally takes place at least quarterly and has responsibility for the overall policy of the church. In accordance with the Constitution, the members appoint deacons, who together with the Minister, Church Secretary (if there is one) and Treasurer (who are also appointed by the Members), are the Charity Trustees, and are responsible for the day to day running of the church’s work and witness, and the financial and legal aspects of the charity.
Charity Trustees serve so long as they have the support of the Church Members’ Meeting and (except for those in ministerial offices) are actively appointed and reappointed at least once every three years.
Training for Trustees is provided by both the Southern Counties Baptist Association and the Baptist Union of Great Britain, who regularly arrange training days on financial management, safeguarding, legal matters and other aspects of interest to the Trustees. Detailed Guidance notes are also available from the Baptist Union website.
All members are encouraged to take an appropriate part in the spiritual and practical tasks involved in the furtherance of the charitable objective. Relevant matters may be submitted to the Church meeting by the Trustees for guidance, or may be raised by members in Church meeting for further consideration by the Trustees. Though the Constitution permits decisions to be made at Church meetings by appropriate majorities, the Church seeks to work by consensus wherever possible.
Affiliations
The church is in membership with:
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The Baptist Union of Great Britain
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The Southern Counties Baptist Association
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The Island Baptist Fellowship
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The Evangelical Alliance.
COWES BAPTIST CHURCH
Annual Report for 2020 continued
Objectives and Activities
In order to achieve the principal objective which is set out above, the Church provides a variety of activities both to its membership and to the community generally. The church’s focus is set out as follows:
“Cowes Baptist Church exists to honour Jesus, bringing people together, sharing facilities and resources, growing, worshipping, praying, serving, seeking to be the best we can, seeking the best for those we serve”.
The Church usually holds public services of Christian worship on Sunday mornings and evenings supported by a varied music group. There are activities for babies, toddlers and children and a thriving parent and toddler group which meets on Tuesday mornings. There are also various house groups which meet on a regular basis.
All of the above face to face activities ceased in March 2020 due to the Covid 19 pandemic. Where possible these were replaced with online zoom meetings and pre-recorded services, and contact with participants was maintained where possible.
Details of all church activities are available through the church website at www.cowesbaptistchurch.org.uk
The church works alongside other churches in Cowes and takes a leading role in inter-church activities with Churches Together in Cowes.
The church is also active in supporting joint initiatives such as IOW Street Pastors and School Pastors and the Isle of Wight Foodbank which serve vulnerable people in the wider community.
The Church has a Safeguarding policy which is fully compliant with the Baptist Union “Safe to Grow” Child protection document to ensure that all people working with children and vulnerable adults are interviewed and appropriately vetted through the Disclosure and Baring Service.
The church has read the Charity Commission guidance on public benefit, and is satisfied that the activities outlined above clearly demonstrate that the charity is providing a benefit to the public.
Achievements and Performance
During the last year, new ways have been found to maintain our core activities. In October 2020 we appointed a new Minister. She had completed her ministerial training in 2019, during which time she had received the full support of the church.
During the year membership has remained at 46. There are also numerous other members of the congregation who are active in the work of the church but have not yet become church members.
COWES BAPTIST CHURCH
Annual Report for 2020 continued
Reserves Policy
General Fund : Regular income supports the day to day activities of the church, however it has been determined by the trustees that a policy of maintaining a general cash reserve fund of £4,000 should be adopted. This reserve will be available to cover short term reductions in income or unexpected expenditure.
Building Fund : Funds are held for any major works on the church buildings and the manse. No reserve figure has been set as any work needed will be carried out as necessary.
Church / Community Worker : No reserves are required for this account, as a set amount of income is received annually to cover the costs incurred. Currently this account is not being used.
Financial Review
General Fund.
This has been an unusual year for the church with no church services from March onwards, and no outside organisations using the premises.
Income for 2020 (excluding funds received for outside causes) was £43,519 a 1% decrease on 2019. Although we did not have any actual services from March Onwards, the majority of income was received by bank transfers and standing orders.
Expenditure is significantly decreased compared with the previous year. This is mainly due to the resignation of our Minister in August 2019, who was not replaced until October 2020.
Taking the above into consideration, we ended the year with a surplus on the general fund of £19,992.22. The surplus brought forward from the previous year was £22,199.81, so the balance carried forward at the end of 2020 was £42,192.03. It was agreed to transfer £10,000 from this balance to the Building Fund.
As we look to 2021, it is difficult to accurately forecast what our income and expenditure will be, as we have no idea when we will be able to resume our usual activities. The costs of having a full time Minister and some of the costs pertaining to the church premises are known; some costs like heating and lighting, catering have reduced, while other costs have increased.
.
Building Fund . During 2020 extensive renovation work was carried out on the existing manse in preparation for a new Minister. This included a new Kitchen, repairs to the main wall in the lounge, and total redecoration and new carpets.
A new Minister was appointed in October 2020 and as they already had a property in Cowes, it was agreed that the church would lease that to use as a manse, and rent out the existing one. Tenants moved in in December 2020, and the rent received will cover the rent payable to the Minister and make a contribution to the cost of the renovation.
An amount of £10,000 was transferred from the general fund to the building fund which left an outstanding deficit of £3274.21 as of 31 December 2020. It is anticipated that future donations and contributions from the rent received will cover the outstanding balance during 2021.
Funds for the Church/Community Worker were restricted funds for the employment of a Church/Community Worker. The post is now vacant. The balance at the end of 2020 was £15,942.40
There were no unforeseen expenses in 2020
Signed on behalf of the Trustees
…………………………………
On (date)……………………..
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES COWES BAPTIST CHURCH I report on the accounts of Cowes Baptist Church for the year ended 31 Dember 2020. which are sel out on the following 7 pages. Res ective Res onsibilities of Trustees and Examiner As the Charitys Trustees you are responsible for the preparation of the accounts; you consider that the audit requirement of section 144 of the Charities Act 2011 { the Act") does not apply. It is my responsibilty to state, on the basis of prOdureS specified in the General Directions given by the Charity Commissioners under section 156 of the Act, whether particular matters have come to my attention. Basis of Inde endent Examineffs Re My examination was carried out in accordan with the General Directions given by the Charity Commissioners. An examination includes a review of the accounting records kept by the Trustees and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as Trustees concerning any such matters. The prOdureS undertaken do not provide all the evidence that would be required in an audit, and cOnsequenY I do not express an audit opinion on the view given by the accounts. Inde endent Examinerfs Statement In connection with my examination. no matter has come to my attention: 1) which gives me reasonable cause to believe that in any material respect the requirements.. to keep accounting records in accordance with section 130 of the Act; and to prepare accounts which accord with the accounting records and to comply with the accounting requirements of the Act have not been met,. or 2) to which, iTrmy opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. I s pfenderson Chartered Accountsnt AHCross&Co 16 Quay Street Newport Isle of Wight P030 5BG 30 April 2021
COWES BAPTIST CHURCH
FINANCIAL STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2020
STATEMENT OF FINANCIAL ACTIVITIES 2020
| Receipts Donations Investment Income Other Sources of Income Payments Church Activities Given to other causes Management & Administration Building Work Loan Repayment Church Community Worker Deficit /Surplus for the year Balance brought forward 1/1/20 Transfer Balance C/ Fwd 31/12/20 |
General Fund Building Fund Church Community Worker Total 2020 Total 2019 43,303.65 2,070.00 11,957.25 57,330.90 61,362 95.70 95.70 152 926.00 926.00 1,727 |
|---|---|
| 44,325.35 2,070.00 11,957.25 58,352.60 63,241 |
|
| 17,757.52 17,757.52 31,883 3,836.00 3,836.00 6,389 2,739.61 2,739.61 2,403 15,369.83 15,369.83 7,190 0.00 13350.50 13,350.50 2,927 |
|
| 24,333.13 15,369.83 13350.50 53,053.46 50,792 |
|
| 19,992.22 -13,299.83 -1393.25 5,299.14 12,449 22,199.81 25.62 17,335.65 39,561.08 27,112 -10,000.00 10000.00 |
|
| 32,192.03 -3,274.21 15,942.40 44,860.22 39,561 |
COWES BAPTIST CHURCH
FINANCIAL STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2020
GENERAL FUND RECEIPTS AND PAYMENTS ACCOUNT
| Note Receipts Offerings Donations and other income 2 Income tax recovered on gifts Bank Interest Contributions for use of premises Raised for other causes 3 Payments Ministry 4 Upkeep of church premises 5 Given to other causes 6 Administration 7 Other Expenses 8 Outreach 9 Surplus/ Deficit for the year Balance brought forward 1/1/20 Transfer to Building Fund - Balance carried forward 31/12/20 |
2020 30,548.03 4,442.62 7,507.00 95.70 926.00 806.00 44,325.35 12,142.05 5,058.16 3,836.00 2,739.61 36.67 520.64 24,333.13 19,992.22 22,199.81 42,192.03 10,000.00 32,192.03 |
2019 33,421 1,540 7,045 152 1,727 1,087 |
|---|---|---|
| 44,972 | ||
| 23,977 6,585 6,389 2,403 211 1,110 |
||
| 40,675 | ||
| 4,297 22,003 |
||
| 26,300 -4,100 |
||
| 22,200 |
COWES BAPTIST CHURCH: NOTES TO THE ACCOUNTS
1. Basis of accounts: These accounts have been prepared on a 'receipts and payments' basis and accord with S.42(3) charities act 1993 ( Amended by section 28 of the Charities Act 2006)
| 2.Donations and other income Donations HIWCF Cowes Community Church For Hampers J Dawkins Funeral Mozambique Gingerbread House Evening Trustee Training Church Meal MVC Other 3. Raised for other causes Baptist Missionary Society Operation Agri Cowes Community Youth Worker Christian Aid Frontline 4. Ministry Ministers Stipend Pension NI Visiting Speakers Manse Upkeep - Council Tax Insurance Water Telephone Electricity/ Gas Repairs 5. Upkeep of Church Premises Lighting & Heating Cleaning Insurance Water Repair & Maintenance Equipment |
2020 1,739.49 1,785.75 500.00 205.00 199.00 13.38 4,442.62 50.00 696.00 10.00 50.00 806.00 6,000.00 3,479.79 190.00 862.35 462.19 176.69 971.03 12,142.05 1,233.08 31.59 1,898.87 376.03 1502.59 16.00 5,058.16 |
2019 120 740 228 230 200 22 |
|---|---|---|
| 1,540 | ||
| 4 387 696 |
||
| 1,087 | ||
| 15,122 5,279 300 1,397 376 296 448 759 |
||
| 23,977 | ||
| 2,273 135 1,856 757 1,478 86 |
||
| 6,585 |
COWES BAPTIST CHURCH: NOTES TO THE ACCOUNTS
| 6. Given To Other Causes Home Mission Baptist Missionary Society Operation Agri Community Youth Worker Mozambique Latin Link ( R Gardner) Youth For Christ Frontline Foodbank - from Christmas Market Benevolent Christian Aids 7. Administration Printing & Stationery, Books etc. Telephone Subscriptions & Conference Fees Payroll Fees Independent Examiner Zoom Fees/Website Church Meal Mobile Phone Other 8. Other Expenses Catering Christmas Tree and Decorations 9. Outreach Christmas Market 2018 Gingerbread House Evening Hampers Christmas Tree |
2020 1,200.00 1,200.00 696.00 500.00 180.00 50.00 10.00 3,836.00 1,286.15 145.31 640.60 174.00 150.00 150.73 83.79 109.03 2,739.61 36.67 36.67 200.64 320.00 520.64 |
2019 1,200 1,229 387 696 740 500 180 350 350 757 6,389 1007 146 642 145 144 220 84 15 2,403 211 211 694 235 181 1,110 |
|---|---|---|
BUILDING FUND RECEIPTS AND PAYMENTS ACCOUNT
| 2020 Receipts Donations 120.00 Manse Rent ( Baring Rd) 1950.00 Gift Aid Tax Refund 2070.00 Payments Manse Wall Repairs 2,589.18 Manse Kitchen Units 3,538.09 Manse Carpets 2,650.00 Decorating and other renovation costs 2,324.16 Letting Costs 1,268.40 Rent ( Crossfield Ave) 3,000.00 Church Electrics 15,369.83 -13,299.83 Balance brought forward 1/1/20 25.62 Transfer from General Fund 10,000.00 Balance carried forward 31/12/20 -3,274.21 CHURCH / COMMUNITY WORKER RECEIPTS AND PAYMENTS ACCOUNT Receipts Funding re J Compton 5,400.00 HIWCF 5,357.25 Gift Aid Tax Refund 1,200.00 Donations 11,957.25 Payments Salary 12,000.00 2,646 Pension 1,200.00 200 Travel 139.50 Materials 11.00 13,350.50 81 -1393.25 balance b'fwd 1/1/2020 17,335.65 Balance c/fwd 31/12/2020 15,942.40 |
2019 220 2000 56 |
|---|---|
| 2276 7190 |
|
| -4914 839 4,100 |
|
| 25 | |
| 7,200 7,143 1,650 |
|
| 15,993 2,927 |
|
| 13,066 4270 |
|
| 17,336 |
COWES BAPTIST CHURCH
STATEMENT OF ASSETS AND LIABILITIES AS AT 31 DECEMBER 2020
| ASSETS Barclays Current account COIF Deposit Account Petty cash Representing balances on the following accounts General Fund Building Fund Church / Community Worker |
2020 7,602.18 37,187.86 70.18 44,860.22 32,192.03 -3,274.21 15,942.40 44,860.22 |
2019 14,455 25,092 14 |
|---|---|---|
| 39561 | ||
| 22,200 25 17,336 |
||
| 39,561 |
Non-Monetary Assets
The church is the beneficial owner ( subject to the relevant trusts) of the following assets, the legal title to which is held by the church's custodian trustee [the Baptist Union Corporation Ltd].
| Church Premises [Insured value] Church Manse [Insured value] The church also owns fixtures, furniture and equipment with an insured value of |
1,762,596 272,364 106,110 |
|---|---|
| 2,141,070 |
Long Term Liabilities:
Pension Scheme Liabilities
The Church is an employer participating in a pension scheme known as the Baptist Pension Scheme (“the Scheme”), which is administered by the Pension Trustee (Baptist Pension Trust Limited). The Scheme is a separate legal entity and the assets of the Scheme are held separately from those of the Employer and the other participating employers.
Benefits in respect of Service prior to 1 January 2012 are provided through the Defined Benefit (DB) Plan within the Scheme. The Scheme, previously known as the Baptist Ministers’ Pension Fund, started in 1925, but was closed to future accrual of defined benefits on 31 December 2011.
The church makes a payment in respect of the DB scheme deficit each month as set out in the Schedule of Contributions. During 2002 the church made monthly contribution of £302.62 from January to June. From July to December the Pension Trustees reduced the contributions by 50% due to the financial pressures which many churches were facing during the pandemic. Annually the contributions will increase in line with increases in Minimum Pensionable Income. The Schedule of Contributions foresees these contributions continuing until June 2026
The Church has been advised that the estimated employer debt for Cowes Baptist Church as at 18 December 2020 was £50,200
The accounts and statement of assets and liabilities set out on pages 1 to 7 relating to the year ending 31 December 2020 are approved by the deacons
Tracey Dancy [Secretary]
Elaine Cherry [ Treasurer]