## **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: - The Baptist Union of Great Britain - The Southern Counties Baptist Association - The Island Baptist Fellowship - 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 De￿mber 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 prO￿dureS 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 prO￿dureS undertaken do not provide all the evidence that would be required in an audit, and cOnsequen￿Y 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]