## **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 carol Jennings Deacon Mr Hamish Wilson Deacon Mr Graham Cherry Deacon Mrs Jacqui Spalding 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 1 ## **COWES BAPTIST CHURCH** ## **Annual Report for 2022** The trustees present their Annual Report and financial statements for the year ended December 31 2022. ## **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 Evangelical Alliance - Churches Together in Cowes 2 ## **COWES BAPTIST CHURCH** ## **Annual Report for 2022 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 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 small groups which meet on a regular basis. 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 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, our core activities have been maintained, with regular Sunday morning services, zoom prayer meetings and the establishment of several small groups. The Renew Café continues to operate and is concerned with people’s wellbeing. In addition several groups supporting those in need in our community are now using the premises on a regular basis, along with music and dance classes for children and adults. During the year membership has further reduced to 34 as several of our members passed away in 2022. . However 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. 3 ## **COWES BAPTIST CHURCH** ## **Annual Report for 2022 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. Currently this account is not being used. ## **Financial Review** ## **General Fund.** Income for 2022 (excluding funds received for outside causes) was £62166 a12% increase on 2021. Income from hire of the premises increased significantly as user groups restarted to meet regularly again. Expenditure remained at the same level as the previous year, although there are energy costs still outstanding relating to November and December 2022. It has not been possible to calculate how much is outstanding due to uncertainties surrounding the charges and discounts due to be applied due to the energy crisis. Taking the above into consideration, we ended the year with a surplus on the general fund of £12,977.05. The balance brought forward from the previous year was £35,672.67 so the balance carried forward at the end of 2022 was £48,649.72. . **Building Fund** . During 2022 our original manse was rented out as our minister already has a property in Cowes, it was agreed that the church would lease that to use as a manse. Tenants moved in in December 2020, and the rent received covers the rent payable to the Minister and makes a contribution to the cost of the renovation. There was a balance of £ 512.12 as of 31 December 2021. During 2022 the income received enabled a small kitchen area to be installed in the lounge at church. The balance on the account at 31 December 2022 was £2003.58. Funds for the Church/Community Worker were restricted funds for the employment of a Church/Community Worker. The post is now vacant, and there was no income or expenditure during 2022 The balance at the end of 2022 remains at was £15,942.40 There were no unforeseen expenses in 2022 Signed on behalf of the Trustees On (date)…………………….. ………………………………… 4 NT 311)e(￿b￿r 21)21 whith lot out on the fo￿￿1￿ 7 pag86 you csJnsKler that athlit requjfemenl of seclm 144 of the Charth"es Act 2011 llhe Acri not appty. It i8 my responsfoilty to stste. on the basts of procedures speofied in General Directv)ns gNen by the Charrty C¢)mmtssM)ners under My examination was ￿￿led ￿J1 in accordance *ilh th8 General Dlrection8 grven by the Charty Commissioners. An exarnination Ind￿ a review of the accounlirrfj fecords kept by the Trustees 8nd 8 comparison of the acC￿￿tr presented wrth those Tgcord$ 11 ab60 Indudes ccrnhderat*)n of any unusual rtems or dtsck)Su￿S In the accounts, a￿1 seekiThJ expl8n8bon8 from you as Tru5tee5 conczming any Such matters Th procedures undertaken do r#X prov*le all the ev•Jenee that ¥thld be required n an audiL and conw4wty I do rK)t express an a￿11¢ opwiion on ¥1 gNen by the accourts. minerf* S rewir•n￿ts'. tho A¢t, aTrJ to prepare accourrts accord wrth t￿ aecounbng records and lo compty wrth the aCc(￿nI¢￿3 rw4Utrwnents of Ihe Act ha¥e 2) whlch. in my opinirm. 8tknrtKm sh￿Id be in to enabb a ptoper ISHe A H Cft)ss & Co Limiie•J 16 Quay Stre 1s5e of Wght P030 5BG 31 Marth 2023 ## **COWES BAPTIST CHURCH** ## **FINANCIAL STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2022** ## **STATEMENT OF FINANCIAL ACTIVITIES 2022** |**Receipts**
Donations
Investment Income
Other Sources of Income
**Payments**
Church Activities
Given to other
causes
Management & Administration
Rent/maintenance
Surplus for the
year
Balance b/f 1/1/22
**Transfer**
Balance C/ Fwd 31/12/22|General
Fund
Building
Fund
Toddlers
Church
Community
Worker
Total
2022
Total
2021
62,526.45
379.00
62,905.45
55,707
362.88
362.88
5
2,321.25 17,850.00 1,122.77
21,294.02
19,236| |---|---| ||65,210.58 18,229.00 1,122.77
0.00 84,562.35
74,948| ||40,483.85
1,005.05
41,488.90
45,160
7,664.40
7,664.40
4,088
4,085.28
4,085.28
3,666
16,727.54
16,727.54
13,744| ||52,233.53 16,727.54 1,005.05
0.00 69,966.12
66,658| ||12,977.05
1,501.46
117.72
0.00 14,596.23
8,290
35,672.67
502.12 1,033.31
15,942.40 53,150.50
44,860| ||48,649.72
2,003.58 1,151.03
15,942.40
67746.73
53,150| 1 ## **COWES BAPTIST CHURCH** ## **FINANCIAL STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2022** ## **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
Sub Total
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 1/1/22**
**Balance carried forward 31/12/22**||2022
42,854.70
9,158.79
7,468.40
362.88
2,321.25
62,166.02
3,044.56
65,210.58
34,228.65
5,146.71
7,664.40
4,085.28
226.82
881.67
52,233.53
**12,977.05**
**35,672.67 **
**48,649.72**
**48,649.72**|2021
37,806
9,446
7,600
5
555
55,412
734
56,146
35,682
7,123
4,088
3,665
102
2,005
52,665
**3,481**
**32,192 **
**35,673**
**35,673**| |---|---|---|---| ||||| ||||| ||||| ||||| ||||| ||||| 2 ## **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
Funeral Donations
In memory of M Brinton
Christmas Tree
Gingerbread House Evening
**3. Raised for other causes**
Baptist Missionary Society
J & L Ovenden
Tearfund
Operation Agri
Frontline

**4. Ministry**
Ministers Stipend
Pension
Travel
Visiting Speakers
Manse Upkeep - Council Tax
Insurance
Water
Repairs
**5. Upkeep of Church Premises**
Lighting & Heating
Cleaning
Insurance
Water
Repair & Maintenance
Equipment|2022
219.79
7,839.00
200.00

900.00
9,158.79
5.16
2,100.00
132.00
327.40
480.00
3,044.56
24,750.00
5,315.36
325.99
300.00
2,607.06
450.26
284.40
195.58
34,228.65
1,276.99
99.09
2,077.82
356.46
1,087.35
249.00
5,146.71|2021
100
7,849
199
636
500
162| |---|---|---| |||9,446| |||9
430
295| |||734| |||24,500
6,773
146
252
3,199
399
250
163| |||35,682| |||1,000
133
1,905
359
3,716
10| |||7,123| 3 ## **COWES BAPTIST CHURCH: NOTES TO THE ACCOUNTS** |**6. Given To Other Causes**
Home Mission
Baptist Missionary Society
Operation Agri
Community Youth Worker
Latin Link ( R Gardner)
Youth For Christ
Frontline
J & L Ovenden
OMF
Tearfund
SCBA Church of the Year
Benevolent
**7. Administration**
Printing & Stationery, Books etc.
Telephone
Subscriptions & Conference Fees
Payroll Fees
Independent Examiner
Zoom Fees/Website
CCLI
Mobile Phone
Other
**8. Other Expenses**
Catering
**9. Outreach**
Gingerbread House Evening
Gifts for homes/hampers
Christmas Tree etc ( two years)
Bioblitz
Other|2022
1,500.00
1,650.00
327.40
600.00
180.00
475.00
2100.00
600.00
132.00
100.00
7,664.40
845.25
132.00
968.80
179.85
150.00
894.08
340.89
348.66
225.75
4,085.28
226.82
226.82
20.67
861.00


881.67|2021
1,200
1,200
431
58
500
180
475




44
4,088
1,357
144
765
177
150
158
323
327
264
3,665
102
102
155
108
1,485
200
57
2,005| |---|---|---| 4 ## **BUILDING FUND RECEIPTS AND PAYMENTS ACCOUNT** |2022
**Receipts**
Donations
379.00
Manse Rent ( Baring Rd)
17,850.00
18,229.00
**Payments**
Architects Fees ( Church)
500.00
Rent ( Crossfield Ave)
12,000.00
12,000
Rental Expenses/Repairs
2,285.65
1,744
Lounge Kitchen Area
1,941.89
16,727.54
1,501.46
Balance brought forward 1/1/22
502.12
Balance carried forward 31/12/22
2,003.58
**CHURCH / COMMUNITY WORKER RECEIPTS AND PAYMENTS ACCOUNT**
balance b'fwd 1/1/2022
15,942.40
Balance c/fwd 31/12/2022
**15,942.40**
**TODDLERS RECEIPTS AND PAYMENTS ACCOUNT**
2022
**Receipts**
Balance from toddlers accounts
Fees
1,122.77
1,122.77
**Payments**
Running Expenses

1,005.05
117.72
Balance brought forward 1/1/22
1,033.31
Balance carried forward 31/12/22
1,151.03|||2021
120
17,400| |---|---|---|---| ||||17,520
13,744| ||||3,776
-3,274| ||||502| ||||15,942| ||||**15,942**| |||

|2021
935
346
1,281
248
1,033| ||||| ||||1,033| 5 ## **COWES BAPTIST CHURCH** ## **STATEMENT OF ASSETS AND LIABILITIES AS AT 31 DECEMBER 2022** |**ASSETS**
Barclays Current account
COIF Deposit Account
Petty cash
Toddlers petty cash
Representing balances on the following
accounts
General Fund
Building Fund
Church / Community Worker
Toddlers|2022
29,824.96
37,555.15
64.18
302.44
67,746.73
48,649.72
2,003.58
15,942.40
1,151.03
67,746.73|2021
15,756
37,192
39
163| |---|---|---| |||53,150| |||35,673
502
15,942
1,033| |||53,150| ## **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|1,956,638
316,646
117,791| |---|---| ||2,391,075| ## **Long Term Liabilities:** ## **Pension Scheme Liabilities** The Church is a participating employer the Baptist Pension Scheme (“the Scheme”), which is a separate legal entity administered by the Pension Trustee (Baptist Pension Trust Limited). The assets of the Scheme are held separately from those of the Employer and the other participating employers. 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. Prior to this date the main benefit provided through the Defined Benefit (DB) Plan was a pension of one eightieth of final 6 minimum pensionable income for each year of pensionable service together with additional pension in respect of premiums paid on Pensionable Income in excess of Minimum Pensionable Income. Since 1 January 2012, benefits have been provided through a Defined Contribution (DC) Plan. A formal valuation of the DB Plan as at 31 December 2019 by a professionally qualified Actuary using the Projected Unit Method. At the valuation date the market value of the DB Plan assets was £298 million, whilst the level of assets needed to pay benefits was £316m, giving a deficit of £18m (equivalent to a past service funding level of 94%). The Church and the other participating employers in the DB Plan are collectively responsible for funding this deficit. The next actuarial valuation of the DB Plan within the Scheme is due to take place not later than as at 31 December 2022. On 30th June 2022 the Baptist Pension Scheme signed an agreement with the insurance company Just Group (“Just”) to secure DB Plan members’ pension benefits. Just are now providing financial backing for all pensions provided through the Scheme’s DB Plan and following this transaction, the Scheme no longer has a shortfall. An updated Recovery plan was then signed in August 2022 under which recovery contributions from each participating employer in the DB Plan reduced to £1 per month from August 2022. The accounts and statement of assets and liabilities set out on pages 1 to 7 relating to the year ending 31 December 2022 are approved by the trustees. Tracey Dancy [Secretary] Elaine Cherry [ Treasurer] 7