Reglstered number: 8043770 Charlty number: 1147984 GOLD HILL BAPTIST CHURCH (A company Ilmited by guarantee TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 GOLD HILL BAPTIST CHURCH IA company limltod by guaranl•el CONTENTS Page R￿e￿nce and admlnlstr•tlv• dotall8 of th• comp•ny, Its Truste•s and advlsers Tn•st••¥' report 2-12 Ind•pendenl •udltorn' rnport an th• fin*nclal statomgnts 13-16 stst•ment of flnanclal a¢tlvllle• 17 Balanc• •h••t 18-19 stalem•nt of cMh11 20 Not•s to the financlal stat•ments 21-49 GOLD HILL BAPTIST CHURCH IA company Ilmitod by guarJnt•el REFERENCE ANO ADMINISTRATIVE DETAILS OF THE COMPANY. ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2021 TnMte¢s Stewart Bishop, Tw51¢e Guy Partin. Tfusloe Antonia Caslle, Twslee Stephen Raynef. Tr￿te¢ John Sadler, Treasuref Iresigned 31 December 2021) Johannes Etten. Trustee {re5igned 31 Deeember 20211 Reverend Stephen JaT￿s WaVrter-William5, Tru51ee (appointed 1 May 21r21) Comyny r•giSter•d numb•r 8043TIO Charlty reglster•d numb•r 1147984 R•gistered offlco The Hub Church Lane Chaifonl St Poter Buekinghamshire SL9 9RF Company secr•tsry J R Gwhill Independent auditors Wise & Co Chartered A￿o￿TrIan￿ and Statutory A￿ltorS Wey Court West UnKin Road Famham SU￿eY GU9 7PT B*nkef8 Nation￿ Wèstminslef Bank plc 44 Packhorso Road Gerrards Cmss Budts SL9 8EG Sollcltorn Anthony Collins 134 Edmund Stre•t Bimiingham 83 2ES Page 1 GOLD HILL BAPTIST CHURCH (A company Ilmitod by guarantee) TRUSTEES. REPORT FOR THE YEAR ENOED 31 MARCH 2021 The Tru51ees, who are Eldets of the Church land are al80 directors of the charity for the purposes of the Companies Acll present I￿1r annual wrt together with the audited financtal statements of Gold Hill Baptist Church Ilhe company) lor the year ended 31 Ma￿h 2021. The Trustees confimi that thg Annual report and financi81 staternenls of the company eomply wrth tho current slalulory requirements. the requirements of tho company's governing documènt and tho provisions of the FRS102 Stslemenl of Recommended Pradice ISORPI "Accounting aThJ Reportir¥J ty Chanties", eflectNe 1 J￿￿ary 2015. Interim Pastor- To•m L•ader In Apnl 2021. The Church membership voted lo appoint Rev Stephen Walker-William$ ￿ Pastor- Team Leader of Gold Hll Baptssl Chufeh. This appointrnent Yds effective from 1 May 2021. Struthur•. gov•rnanc• and m*n*gem•nt . Constitution cffjiarw 1$ register•d as a chantabl• eompany limlad by guar•nlee *fjth Compaty registration number 8043770 and was set LP by a Mèmorandum of Association on 20 April 2012. Tho company is a registered Charity number 1147984. The principal obJ'Kts ofth• company are: l. Tho advancemwt oflh• Christian farth acc(Yding to the princwl￿ and pracb"¢es (I th• Baptist denomination. 11. Other charitable purpo88s in th8 Unlted Kingdom andlor othor part8 of Ihe w￿ld. Thwe been changes in th• obj'getives since the last annual roport. b. Methods ol appoSnthi•nt or election of Trustees The management of the company 18 the responsibilty of the Trustees who ￿ 0￿ed c(hopted undw the t•Thn5 of thé M￿ndum ofAssrK1ati￿. e. Organlsational structurn and decl8lon4naklng pollcies As at 31 March 21f21 tho Church had elrca 351 full Churth m•mbers on its records. Cl￿ 80 addrtional regular attender5, {with a furth8r circa 247 maintaining associ8lion with Gold Hill as Ffiendsl. The members are invrted lo msot four tirnes a year al a Church Meeting lo revw•V the *tiwties of the Church and make key decisions on strategy and finance, presented by th• Elders, as *Yll as approving key appointments. (There was one additional (Speciall meeting during tho period lo 12 Apn'l 2021 as the Church membership have discussed and voted by ret baNot eonceming th• appointment of Stephen Walker-wimiams ta the po¥rtion of Paslor.To•n Leaderl. Thore is an elocted Church Council, which consists of the elected Eldorn and elected Deacon¥ arvj fvrth eleded Church repre5enlalives. The Church Ctsjneil meets four times a year lo consider inrtialNes and plans presented by the Elders prior lo pres8ntalion lo the Chufch Meeting. The maionty of meeting¥ that hav8 taken plac• during 2020 and up to September 2021 have been held by Zoeffl due to the effect of Covid-19 roslriet¥Jn8. Page 2 GOLD HILL BAPTIST CHURCH IA company limited by guarantee} TRUSTEES, REPORT (CONTINUED} FOR THE YEAR ENDED 31 MARCH 2021 Structure• go¥ern4nc• and man*gement Icontlnuedl d. Pollci•J adopt•d for the Inductlon and tralnlng ol TTh8tees The Coffyany has 8 number of Eldero wtK* ￿ also DirKtorn and Charity Trustees of t￿ Company. Those who ve heid this position during the year ended 31 March 2021 and as at 11 January 2022 lunless olheTh¥ise stated), b8irrfJ the last dote possible Pr￿ to the publicatM)n d this document were as loliows.. Slewart Bishop Guy Parkin stephen Rayner John Sadler Ifesigned 31 Decen*er 2021) to Castle Johannes Ett•n (resigned 31 December 2021} Rev Stephen Walker-willkqms lapp)inled effocl from 1 May 21f21) The Companls constitution specifies that the majority of Directors and Charity Trustees musl be non-salaried mambers of the Church. There are a number of othèr paid employees ol the Church are also Elders of It Chufch. Those vtho ha￿ held this p)srtion during the year ￿ded 31 March 2021 and as at 11 January 2022 (other than u statsdl, boin9 tho lut date possib￿ pri(Y to t￿ publication of this document were a8 follows.. Jxkie Buie Gwhill Jame8 SmffKJns Dav6 Crhldle The Eklern are approved by the Church Council and then eltcted by a ballot of the Church members. To appointed they havg to achieve Seventy-five perc8nl of the votes cast in the ballot. Al appointees wll already have been inlegra18d into the lrfe of the Church, befor• being nominated and they receNe on the job tuition by *ending Elders, Kqeelings They are also provKled with material M Trustee fesponsibdrt*$ prtsjuced ty I Charity Commission and the Baptist Union of Great Bntain. e. Pay pollcy fof key managemwt personn Salanes fLY key management staff are sot by Trustees. who meet al t•ast annually. in accordance wrth I ch8ri1ies' goveming documents. Local and nat￿31 eomparalors aro laken into acetsjnt, alongside indNidual re5ponstsilty levds and pertormarui. Dunng the year. a staff restruclunng exercise was completed and tv• positions were mad8 redundant. f. RO￿1•d party rolatloTh¥hlps Relationships and transactvjns ￿th related parties have begn 80t out in Note 31 to thè accounts. g. Flnancial ri¥k manag•ment The Trustees have assess•(i mi4or risk8 to whth the corkyany is exposed. in p•rtwlar I￿¥e rnl•t•d to I operations and finances of the company, and we Satisf￿ that systems arKI procedures are in place to mitigate exposuro to maAor rffjks. Page 3 GOLD HILL BAPTIST CHURCH {A company Ilmitèd by guarant••l TRUSTEES. REPORT (CONTINUED FOR THE YEAR ENDED 31 MARCH 2021 PIAn• for fuiur• periods Plan8 for future developments build up)n th¢ activities outlined in Ihe'objectives and Aclivrties, sect￿n abovo ¥￿ $8ok further our Miss￿n. More recently, we have mov&1 the focLb$ of our ￿$￿)n language leadership tthvard being abc*Jt seeing people 'Reached. Rest(Y&a and Rdeased in Jesus. nam•'. This is nix lonning th of all Ouf pL4nning. activities and direct￿n Ithe belw is from a and language update document that was provided those in leadership posrtions within the chur¢hl.' R6ach8d- rnaching p80ple with a relational gospel encounter one thi8 couhj be reaching ¢Xrt and making contscl wrth pec¢*ia far from God. Thls 1$ a grnat thiTh3 to and challenges Lt5 to continue stepping OLrt and engaging in deepening felalional contact wf(h people who are far from God. Our understanding of seeing people reached needs lo go fvrther. It needs to include exposure to tho Gospel in sc#ne way. This could be a sharing of le8timony. an offering ol prdyer, lislening to a l*. a fulknn g)sp*l presentstl(4VConversat￿jn. RestoTrd- Trstonng pecpl8 to right lBlat￿n$hIp wlth and in J8su8.' As people have gospel conversation$. we pray that there w￿1 be an increase in tho number of people that m4(e first tsme commitments lo Jesus". people that are feslored to r¥Jhl relationship with Jèsus and as a resuh olt*r W• also reeognise that Je8u8' rsstoration ministry c￿linueS after wo become a lollower. We pray for an incr•ase in pecpbe bebng restored in vthc4en8s¥ aNI healing. Rel88S8d- rnleasing Gc¥Y's placed potential in peopl&." One ol the key si9ns of maturity as a discipl¢ is that we become repr¢ductNe, we loin In thè Jesui mission and mini51ry. This area wKlud6s releasing peO￿e in their ￿ given potential and grfting as well as relèasing each discipbe we have o)ntact wilh k) bg repr¢JJuclNe discipl8s i.e., disciples Wt￿ make di$uK4es, leaders ¥tho ramè up oth•r lfr•Jer8 and churches that plant churches. Since. we hav8 begun to consislenlly lead into th￿ focuses. tho congregation is laking mtyo of a person81 ownership of these objeclives a8 well ai eolleLINèly working together to see the aims achieved. The objectives havo been translated into prayer g)als aThl also Practical steps in many drfferent areu ol church lile. with that work orw.ng to ensure all wo •ra and do * fc*JJsed toward this on8 P4e4 GOLD HILL BAPTIST CHURCH IA company Ilmi¢•d by gu•ranle•l TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2021 ObJectlves and actl¥ltl•s P0￿Cl￿ and objectlv Gohj Hil 8a•ks to be ￿ authentic Chri8t-like communty, encountering God. making discip￿$ and Iransforning thè worfd. The Church Seeks to Reach,. Restore and Release people in our I￿1 communrty as VMII as into the The mission is fvlfilled through the folkn¥ing departments and xtivrties, which, dunng the ￿ar and￿ 31 MaT¢h 2021 wern.. Day to day management is delegated to the people listed bek)w. 1. Prayer. DiSC￿leShip and Teaching linduding Online presence), - Criddle 2. Strategy Cc()rdinator- Steve Rayner 3. Worship & En¢ounter lincl. Galhenryjs. Technical Team, Events, Welcomè Team) Josh Bishop (Worship Dirertorl lo ènd December 2020,. subseguenl vacancy not yet filled - la8k$ Sha￿ btheen volunteer team membefs at present. 4. Mission, Oulfeach, Evangelism. Church Planlmg. Partnerships, Cr0$s4ul￿ral Miss￿n, N¢¢ation$ Support). Missi¢Jn & Ministry. Local MisS￿n - Stephen Walker-williams 5. Chureh Lrfe Ministry- Age-related., gtagewrel8led.' membernhip., HHH- Jam88 Simmon• 6. Chaplaincy- Jackbe Bui¢ 7. Pastoral Support. Lrfe GfOUPS, rites ol passage. Prayer ministry and Cross£ullural team- Buie 8. Operat￿￿$, SLKJPOrt & Serwces (incl admin. webldigital m&Jia, c0nvnunicats￿$, e￿ntS & COnfe￿nCeS. *ering. premises. caretakingl- jo￿ Gledhill 9. Stsff Leadership- Slaphen Walker-William$ 10. Finance Toam- John Sadler All Elders aro appointed by members at a Church Meeting. There is a team of Deacons representing a *ide rwvJè of ministr￿5 arKI a¢tivrt*s, vA)o aro abo elected ty membern at a Church Meeting and who are appoint¢d to a88r8t the Eldorts to undertake their responsibilitle$. In Fdanning the actIvrt￿s fty the year. the trustees ha¥* eonsKlered the Charity Commissw)n'$ guhJane8 on publ bonefit and. in particular, thè specrfic guKlance charities for the advancement of religion. The charty saeks to Ihe local ¢ommunity in which il Is situated as well as engaging in national and inlernalional ministry, In aCcO￿ance With the requiremenls of th• ChaTrties (Accounts Rep)rtsl Regulatiom 2008. ts Tru$tees confimi IW h•ve corrplied wth that duty. P•98 5 GOLD HILL BAPTIST CHURCH (A company Ilmited by guarantee) TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2021 Obioctivgs and actlvities Icontinuedl b. Aetivllles und•rt*k¢n to achieve obJ•ctiv Sunday Wornhip During pèriods when the eff•cls of Covid-19 ¢losed pla￿9 of worship from meeting 'in-person' tho Church has h¢ld Church serviee$ and gr￿p meetings using digrtal pjatftsrr￿. Duiing perk)ds when V•Y have been abl to meet 'In￿erSOn, we hebd our Sunday moming serviees at 9.QOam and 11.00am in tho main Chufch buildiThJ. Our yOLrth group continued to hold th8ir Serv￿e6. Sirw moving to tho Hub, sèrvic8$ have b••n h￿d at 8.45am, 10.30am and 7.00pm. Onllne Presence Gold Hill publishes a wob$ite that now ha• much expanded funcltonalty And usability. 11 mak•8 us more effeelN8 in our efforts to communicate who we ara to our and enables space for us to produce and promote re8oiJrces and material lo h8*> people gnyw in failh and rea¢h others. Wo continue to use $cKAI medo and are 8eeking to devebp this by impK8menting a team. led by volunteers, lo ¢raale Content and Inler8et onlin0. As tha Covid-19 situation began to unlold, these platfoms we have created sepmd to lay a foundation we could buikl on to contintse with the MIS￿On and VIS￿ V•* have. Llle Group MSnistry Our Lrfe Group ministry continuoi with th• dear VIS￿ that people in smaller grnups would 'Share Life. Sh¥e Je8u$'. At heart of this, rt18 all about having deep, IKThst attountable relationships with other people, gr(hving in c4Jr disci*ship and finding way$ to share the message of Jesus with other8. There are groups meeting thin Chalfont Sl Peter, 88 well as group$ meeting xross lh8 wder bcality. reflecting the geographieal makeup ol our church lamily. Our Lrfe Group leaders continue to do a bfillwt job at supporting thoir groups and providing leadership. As wem 88 tho regular, yeaT-round groups, Ihere ha¥• been ¥easonal 'Explore Group$, that m•et for a period for something more focused, vthether that bg for Chnstians exploring farth more deepty using something liko t Fleetsng Shadows lert loiios ty for reaching ¢YJt wth fath through our Alpha course. Short Tèm) Mission Events During the year to 31 March 2021, the Chureh has supportwj Jww81 $hort4emi Missi¢￿ inilth'ws on4in. Local Mission In lh• communlty The Church has continued lo havo anothèr 8uccessful yoar serving the communty in addition lo several locol courw and Community in￿'ally9$. During the year. Ihe Church cantinued cmjr partnership with CSP Youth Contre, which support on behalf of thg community, by providing some ¥o￿nte9￿. th• coming Iw to ren*w and strengthen our partnership with the Youth CeTltre. Th• Church coffee that opèrates in the village and trath indep￿dent￿ under th• of Gold Hil18re*J House) Ltd Ihe BREADHOUSE. continued lo contn.bute to village lrfe. In 2021. th¢ Church exercised a break dause to suffender a lease on a Shop that was adjacent to the 8REAOHOUSE. The opportunrty to enhance the reach thal we aré ablo lo have in the community through offerin9 an art8 and crafts facility trading as 'Unique Like Ytxrf will continue. WIAn ablD to moet wIt￿ul reslrictK>ns, Tgjdlef Praise wdl continue to welcome parents, carern and thoir p sch¢)ol children on to the premises on a Friday morning,. with child att8ndanee ranging be￿In 20 and 41 per session. Plunge Pl1￿. 7-11s Friday evening Children's Club engages with Ihe community and a thikl attendance rangin9 from 2￿36. GOLD TrILL BAPTIST CHURCH {A company Ilmited by guarant•el TRUSTEES. REPORT {CONTINUEDI FOR THE YEAR ENDED 31 MARCH 2021 Objoctlves and activit1￿ Icontlnubdl Actlvltl•s und•rt•ken to xhi•vo obj•cllves Icontlnuedl In addit￿. the Church premise$ wll continue lo be u$od by LANTERNS, a Montal Heatth Day C8rn C enabled through Buckinghamshire Mind, on a Tuesday- as it has eonlinued to do throughout much of lockdo1￿.. Gold Hill has developed a Seniors, Day, and this attracts mr 35 S￿l0r people oach wgèk éN*ry Wednesday. It has had a real impael on tho ￿Mmun￿ parti¢ularfy as thi¥ afea of work has been identified by the County Council and are not abh to resource rt. Subiecl to Covid-19 restrictions, the Church is a key player in the main local eommunity events in the year. the summef festival on Gold Hill Common Ichamonl St Peter Feast Day}. where it operates the main refreshThnt lent, aTrJ Pfovths a tts￿ of V￿U￿1•er workers for $el-wJ. nning and set4own of the ts¢i1rt￿S,. also for Vdlage Fun NKJhl, hehj in the village ¢￿tre on the first Friday ol D￿eMber. lor which the Church opens the doors of rts cafe for lea. coffe8 and mince pies, and hay a ws presence ￿th a stall lo inlerxt wrth and encourage the local communty. Childrnn and Young Peopl• Our investment in tho Children and Youth of our Church and surrounding eommunty is e￿remelY important. Natslie Criddle wa8 appointed lo the rokn of ￿ Youth Worker at Gokl Hill and regularty has contact with about SO JDung [e0p￿ in the church and ab)ut 3540 in thè vilw at the Youth Centre during the week. Our Children's and Families worker Slwjna Hunler-singh continues have a hugely positwe irnpad on the Childf8n in the ¢hur¢h and community seeing grovrth within mid-week groups and launching a new ministry called 'Grfted'. Events during tho year have largely hekl on dwrtal pLqtforms. Our Children's and Youth Work ministnes ￿tinUeS to bè supported resourced in main by vO￿nteers. Our vdunt8ers' amazing dedication is m appraciated by pargnls, wers and the wd•r Chur¢h fanity and ￿MMUnIty. Dunng th• year. we Conlinufjd to seo parents, appreciatmin of various activrti•$ provKkd for Children Ind ng kwle. The chiklren cOntin￿d inviting their fr*nds to mKI-week a¢twIt￿$. Wa hawk continued to care for d teach over 100 children each Sunday and our miikweek chilijien's club, Plunge p￿¥, Tea¢hÈs out to the hxal communty and has seen Significant increases in attendance. Two one4ay holiday clubs are tr￿ld each year at Easter and Chrislmasl. whth are welksupported by children from th• community. In addrt￿. our schools work has developed particulady at Robertswood School and increasingty at the Chamonls Cornmunty Cdle98. Young Aduttx Due to Covid-19. rt h•$ been a dfficult year for our ￿ng aduhs awdy from hcffie l$tudJingi. A social event together wrth kKal sTrwng adults Was hekj prior to commencement of thw"r St￿ star. A vc4unteer Wer for this agelstage has subsequenty arranged a nMiber of socwl gatherings to encourage more connecliv¢ty. prombj ¢Jnline connection and establishedlfacilrtated YouThJ Adutt Lrfe Groups. Anothef volunteer leader holds Spe￿81 'Universty preparation. session in the eaty autumn to help prepare new students as they1oa¥e home. and this indudes information •Jvice from dher mor• seasoned students. O¥•r 50.8 James Simmons oversees our lrfe stage ministry and links in with the Senior8. Ministry, etsordinaled by a Church ILbnteer. This group airns in Pa￿Cu￿r t¢ provide a range of a¢ti%Aties and services par*'cuLarty aimed at the Seniors. lowr 80s) agfy gro￿1. Pastoral C•rn There are many w3y5 Pastoral Care take8 p*e at Gold Hill. Muth pastoral care camed Lxrt quite un¢onscKJusty as member5 watch out lor another and as they meet wthin Yarious $m811 9￿UP¥ )bc*Jied in Church lrfe. The Core Pastoral Team, in conjunction wrth pastoral ebjers and coordinated by Ja¢kte Buie. takes OV8farching responsibility for ensuring that specific pastoral need8 in the lellowship are identified arwj mat. In addition lo supporting small group leaders in the provi%on of care, the Team priorrfises support for tho elderty, the housebound, those hospitslised, those in damagirkg relat￿nsh￿S and th)se bereaved. Page 7 GOLD HILL BAPTIST CHURCH (A company Ilmited by guarant•el TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2021 Obl•¢tlv•s and acllvlths Icontlnuedl b. Activltles undortakan to achl•ve objèctfves (continued) Gold Hill ha¥ established a CAP Debt coUn￿lir￿ Centr• in partnetshp wrth Emmanud Church Chesham, King's Church Amefsham and Sl James Gerrnrds Cross. This provides free debt counselling in people's own homes and is supported by the resources & experience of the national CAP Ichrislians against Povety) organisalion. Gokl Hil tho links to the Food 8anks in Chesham & Amer8ham that di8tribule food to those who are in no•d and this has been an important area of ministry lo many during the periods of 'lo¢kdown'. To this we promde food VOLKhers to any who call Into the church offKe and can prove thw levd of neod. In addrtion, sirK• k)ckdown for the Cowd-19 season. Gokj ha5 been a delivery point for the Food B¥bk to our very I￿al community and drOp￿ff point for donat￿n$. Player Piay&r is a Vit￿ part ol Gold Hill Baptist Chufch, and all membefs are encouraged to h•ve thwr personal prayer life, but thi$ 1$ supported by the ¢)ffer of prayer mini51ry at all our Sunday seNic*s. There is an organoed ptajw ¢hafft for particular needs, and the arn CLxnmrtted lo pray for each rrwnber ofthe church wrthin tho ar. The￿ 16 o dedicated prayer roLYn in thè buikling, which may be booked by the hour for ￿ther irKlividual or group use. Church wider prayer evènings are arranged 8 limes per year, typicolty with • drffer•nl themelfocus on each occasion. Gokl Hill have linked together wrth Several other loeal Churehes in our area to hold 24-hour prny*r so$S￿n$ for our communities., local issues and matters affecting the wpaer World. Both 2020 and 20218aw each y￿r start by settiryj awd• January with o month ol prasw. During January 2021, encouraged everyone to pray each day, including a day of fasting orKe per we8k. We also use a dedieated a>w rcom in our building wh￿ti can be used for w•er. This was put on pause during tho Covi&19 cnsis but wil ftropen whon it 1$ safe to do 80. Abo, in January 2020. a daity WhalsApp prayer pr¢)mpl se￿iCe wa8 Set up, about 120 people are now receiving daily inspirations to proy. An addrtional opportunity lo gather on pr wa8 also established on Zoom * 8.45am each day f(x 15 minutes (Focus 151, dufing lockdown a 'nO￿ Zoom, call facilttated éach weekday, aTrJ a Sunday evening Zo¢m prayef gathoring for 45 minutes established. Disc•pl•shlp Dunng this year. w￿k h8$ beM cwried out to plan and implement a 'Dtscipleship Pathway, at Gold Hil. This an attempt lo create a clearty defin8d structure so that overy person who conneets wrth our church can b npowered and enabled lo lake steps forward in fatth with Jesus. 11 includés a mixture of resources and guides, as well as painting a picturg for Peop￿ of gruwing maturity in fath looki like. Tho impthent8tion of thi8 ha$ beon afF8cled and attered by the Covid-19 bckdown. but the structures and many ofthe reJ¢)urces are now prepared r•th lo bg uwl and implemenl¢d. Global Mission The Cros>Cultural Team (lom￿1￿ calw the Global Mission Couneill pravides financial, wayer and other practical support to overseas workers. These partners have been formally selected and are. in most Cases. profeswonaty Ifainfyj and qualffied for their VcUt￿n$. Their assignments are fomalty assessed and approwj by the Cross£ultural Team. Their purpose is to establish and build the Church in various locations around the wedd., this can be by bit48 translation, 8vangelism. provKling support seNice$, drug rehabililalion, support ministries among the poor and training. Thty are supported finanaalty at drfferent levels according lo 8 staNJard set of prineiples that is appl￿d consislenUy. sueh a5 assessing thwr needs Idependent on bcatw)n. famity and worttin9 requiremenlsl, other mean8 of support and inwme and the Church's abilrty lo fund them. Durirwj the year thera were 13 indivKluals or couples. who reeeived financial support. Pa99 8 GOLD HILL BAPTIST CHURCH (A company Ilmitgd by guarantee) TRUSTEES, REPORT ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2021 ObJoCthTes and *¢tivltlos {contlnu•d} A¢tlvltles und•rt*ken to achlev• obl•ctlv•s (Continu￿> Local Churth Partnorshlps Gdd Hiu Baptist Church continues lo maint&'n links wth and provides advice, speakers and support to kKal ChLtrehes. There is a growing demand for and concem for partnering wlh many other Ical Churches, and link• wlth thèse wtll be further examined and developed during the coming year. Regular meetings are hekg aders of other Ic¢al Churches in South Bucks. with the aim of working together to rnxh the region with the Gospd and so? th& church renewed. A smaller group of Baptist Churches have re¢enlly launched the S¢xrth eucks Nefyvork wrth the8e aims. Stephen Walker-williams has slralegic oversight of this nelwort( arKI have nled a cLkordinator (Mana Bond) who is accredrt8d by the Baptist Union. Project M•nag*m•nt Folbwin9 a decision that wa• made by Church members at ts ond of 2013 to seek new premises, in January 2017. Gold Hill Baptist Church purchased a building krKhYn as The Rand311 BLbilding for tr* sum of £1.8 Md1￿>Th. The purchase was madè a mixture of donattr?ns and loans frC￿ Church members and a loan of £800,000 from the 8aplisl Un*)n Corporation. Prior lo submitting a planning application, Gold Hill B8Pti$t Church conducted a local eonsultation with many local st&keholders and during 2017. c￿tteM District CourKil granted lum planning perynisS￿n to bU￿d a building. Subsequenlty. th• Chur¢h Tais•d funds thfough gffts, interest fre8 kgans and members making lulure pledges Kl a further loan of £1m from th8 BaptKst Union CO￿Oration. Church Members approved a proposal to agreg temis lo enter a contract to build the rth¥ Hub Heart Home facilty which included demolition of thg existiThJ structure. Gold Hiu signed a Build and Design ¢C￿traCt with JaThi$ Contra¢ting Limrted and building look F4&e dunng 2020r21. The buihjing, which is cal￿d the "Hub" was completed and handod ovar to Gold Hill In September 2021. With regard to a 8•Ai)n of laTrJ that 15 owned ty the Church called the"Lch¥er Road, the Church h8s takon step5 to ensure that signage and fencing ha¥• bo•n erected M the 8ilé th•t g(¥)d Mry￿ent uThl8rtaken. A te￿ examined th¢ options that av8il*)le concerning the e￿$tIng Gold Hil sit• ar￿ discus$KTh to th sito for £3.8 million wern ¢oncbuded wrth a DeVelo￿r on 12 November 2019. Following subsequent discussions. teN¥een the parties in November 2021, the final sale of the srte w88 eompleled for a considerati¢n of £3.6 millvjn in DKember 2021. Since 2019. the Church has receNed total deposrt fiJnd¥ of £S70.000 and a further wm of £985,QOO from tho sale of c¢rt&'n propert￿$ on the srte. Thes0 funds together wrth the balance of the funds that hav• been received1£2,045,000) havo boen althaled trMard8 the development of the Hub Heart Home project. On 19 February 2021. Gold Hill sold a property kn￿n as 47 La￿eT$ Close for £405,000. The prcceeds after ¢o$ts, were used lo pay off the balance of an existsng loan with the Baptist Union CorporatitJn1£59,901.011. the remainder b•"ng allocated lowaTd$ the HHH Building prq#t and the Church General Fund. Gold Hlll C•r• The Chur¢h has a very cb)se assccialN)n wrth Gokl HIM c￿8, Nthich is kxaled near to the Chufch and was establish8d as a separate ¢xganisation by a PreV￿u5 member of the Church. piovkling Ordinary and specialist demenba care and shett¢rod acc¢)mmOdalic￿ for the eldety, for cvar 50 ys. The Church continues to ha4p a k>w workin9 relationship with Gokj Hill Car c. Grnnt4naking pollcl•s Gr*s are made by th? Church to bdh UK WKI internab.onal Miss￿￿8 to fvrther th•K work and li accordan¢e with the mission objectives of the Churth. Pago 9 GOLO HILL BApnsT CHURCH IA company Ilmlled ty guarantw) TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 IAARCH 2021 Objectlvos and adlvltl•s Icontlnuedl d. Volunte•r6 Tho ministry of the Church rnlies vary heawty on th• woth of voluntèers. Wo omploy up lo 10 full lime equivalent some are fvll lime and otherg part ts'me. However, we estimate that there are ¢)ver 2¢XI volunteers ￿vOlved in the various ministries of the Church. Including Leadership. Children and Youth Work, Communty and FarThty Wot*. Finance and Adminislralion. Pastoral Care, Sunday Minislry and Membgrs in miss￿n. Achlevemonts and ￿rtom1*nce Flnanclal r•vl•w Going conc•rn After making appropriate enquiries. tho Trustees havo 8 reasonable expectalts)n that the company has •Jequae resourc¢s to continue in operational existence for the foreseeable futu￿. For this rèason, thoy continue to ad¢¥t the gong conc•m basis in preparing the financial staterr￿nts. Further details regarding the adoption of th going ¢1￿¢￿n bam can bg found in the Accounting PolKi8S. b. ReseTh•s pollcy Trust8e8 agree¢l a target res•rve policy Inamety enough lo cO￿r IlYe8 months, expendilurel and *ill t•ke steps to implement this poli¢y as and when surplus fvnds are available. The Church believes in the grace of God and is gTaleful for the sa¢nfieial gMrvJ of our members to Pfowde for our financi81 needs as they arise. The Church believes that monias shr￿Id be ukn"lised fc* the furtherance of the WO￿ of the Church in the community as x￿n as rt 18 pract￿￿ and i• consistent vffjth w orderty and responsib￿ stewardship ofthe funds and the of tho Church. c. Prlnclpal rl•ks and unc•rtalntio9 As a charty, the Chufch fxo8 a number of prirKpal ri8ks and uncertainties. The most $evwe woubj bo Substantial drop in In￿ffle which is largety reliant on tho giving of church members. Another risk WQLbld b8 redLtction in the number of volunteers who are preparod to offer their time to enable the Church to ach*ve its actiw1￿$. The Church could also be affected by crther macro-economic nsks whth may affect the UK econorny. In the closing stages of this financial ￿r, Cov¥>19 impxted the church through closure of th8 bu11din￿Srte ar*d th8 impact of this femains un(ler revkryw. The longer-lem impact is expected to become clearer as the pandemic k8ns and resurnpt￿n of nomwl a¢tNty. d. Fln•nclal rl•k managem•nt objèctiv•s and pollcl•s W• maintain a simple iisk register, which idenlifies tho major risks to the ￿ntinUing mission of the Church within th• community, We rety on the geneious and sacrificial giwng of tho Church m8mbers to enabla our mary ministries within the community. As a charity, we also b8n•frt from the lax relief wovided by the Govemmenfs G￿ Scherr*, wtuth enables us to frxt•r￿ ¢)ur ministry ￿ the cc¥nmunrty even more effects"vdy. Pay 10 GOLD HILL BAPTIST CHURCH (A company limitsd by guarantoel TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021 •. Support of oth•r work The Church swwort5 van(#Js other ministries chantable organisati￿S through prowding pastoral support, en￿ur4￿g members to pray and by making funds available. The Global Mission Council have responsibility for ensuring restn'cled ghls made for t￿ support of pa￿CUlar rninislries are for that purpose and for ommending and administering the general overws giving of the Church. l. Finan¢lil revlew Financial Inrxjme ￿ derived fr(xn voluntary donations arKI regular gNing by the cor¢gregation, mainfy via th• Church TNSL During the year urdèr revithv. regular giving to the General FurKI docreased to £414,146 {2020". £440.5521. Income lo the Hub Hèart H¢Jme project for the financial year totalled £270.89212020.. r252,8091. Full dotad8 on FinarKial In¢ome ara 8hv*n wi Ndes 5 to 8 on pagm 27 to 29. A signfficanl proport￿ft of th8 Church's ineome 18 gNen by way of donations to Christian mission and Teli6f groups, mostly overseas or through Ihoir commissioning organisalions. The other main area of expenditure for tha Church is that of salanes. Funds are "restricted, whon thoy are gi¥on for a speryfic purpose. These fund8 generalty W distributed in Ihe financial year, excepliThJ the r￿ed for reseN￿. Funds are also set asth a8 designated in order lo fa￿li18t8 tracking of unrestricted funds as they are Spent. Unrestricted fur￿8 (which in this instance conslilule Ihe Yrae, reserves) available at the year4nd amountad to £415.503 boing a decrease of £44,098 on the prw ye￿. These fvnds b8 u8od on th Church's objectN8s li the ￿ar to come, whilst. possible, some wslricted funds will be hgld back to enrl)1o the Church lo meet its target rosoNés policy. A5 there are no specrf Investment powers, the majority of cash resopm are kept in interest bearing. 90 day c* Instant bv COLmts. Ststement of Trustg91' responsibiliti The Tn￿1••8 Iwts) Ar• also th• diroetorn of the company for the purpts￿ of company kn¥> w• respon$ible for preparing the Tru$le8s' report and the financ1al state￿nIS in accordance wrth applicable law and Unrted Kifudom Accounting Standards Iunrted Kingdom Goneralty k¢epled Accounting Practice). Company Iw requiTes the Trustees to prepare financial stalemonts for each financLal . Undgr company l&¥, the Trustees must not approve the financial slalemenls unless Ihfry are satisf￿￿ that they givè a tru• and fair viow of the slate of affairs of the cmipany and of its incoming res¢)urce$ and application of resources. including its ome and expenditure, lor that period. In prepanng the•e finar￿￿1 statements. th• Trustees 7n required to.. $el8ct sutsble accounting policies and then appty Ih•M consistently., observe the molhods and principles of the Chanlies SORP {FRS 102).. make judgments and accounting estimates that are reasonable and prudent.. ststo whether applicable UK Accoun11ng Slandards IFRS 102) have b•en followed. subject to any malerial departures disclosed and explained in the financial statements., prepare the finanual ststemen15 lyl the 9Thng concern basis unl9¥1 it li inappropnate to Presu￿ th•t the company continue in b￿1r*S3. Trustees arè ra$ponsible for keeping adequate accounting f•cofds thal are sufficK8fbt to %lth¥ arml èxplain companys Iransaclions aThd disdose reasonable a￿vraCY at any trrfft the financial po$rtWb crf thecompany and enab￿ them lo ensure that tt* financial statemènts compty wrth the Companvas Act 2CI)6. They are also responsible for safeguarding the a¥8els ol Ihecompany and hence for tsking reasonabkn steps for the pffjvention aThJ detection of ltraud and othor irregularities. Po9011 (XXD HU BAPT18T CHURCH IA eompwry llrt•d by gU•rnTrtwl TRU8TEE8' REpoirr {copmNUED) FOR THE YEAR ENDED 31 IAARCH 2021 Po•1 B•l•rK• ah*￿ e¥••rt• £430,345 ID QY•W txofBulornl f•••, •TrJ fft tyjl rrnts. th 3 D•c¥mbeT 2021 oftho Gc4d H Ea•t •lt• T*• IJ* t)•la￿b sum rf £3.8m ¢Ju• kn b• p&kl1È2.045.LKQ). FrtTh th*5 £1.7(LS.073 ¥x• uo•d lo rop•y th• bab￿ on • B•pb•t Uth? P￿d96￿ Lom •wJ the Chwth tho L*r•x ¢rf £398.(Y35. In DK*mb•r l¥)21. th• 8* Unk)n •Arn•d kn gr•nt a further Cttun* lo Comothts *U ts (MrtthThJlng k>•M trb•t tt ho• rw lothllryj £1.011.sir2 15 a Brfdglffj tsdHty of £67,n8. In *ldll*Jn, kn D•camb•r 2021. tt* Chun* buildlrva ITNthI 2021. 12 GOLD trILL BAPTIST CHURCH {A company Ilfflit•d by guarantee) INDEPENDENT AUDITORS. REPORT TO TFE MEM8ERS OF GOLD HILL BAPTIST CHURCH Oplnion We audited tho financ4al stalemenls of Gold Hill 8apli8t Church Ilhe 'charilable companll for the )ded 31 March 2021 comprise the Stslemenl of financia activil*s. the 8aLance sheot. the stsI￿ent of cash and the felateAI notes. including a summ8ry of S￿n￿lcan1 accounting polTC*S. The financial ￿Po￿ng framework that has boen applied in thair preparation is applicable law and Unrt8(l Kingdom Accountin9 Standards, Including Financial Reporting Standard 102 'The Financial Reporting SI￿d¥{d appltsble in th• UK d Republi¢ of Ifeland, (United KingJr knovAedge obtained in the course of the audit. or otheThwse appears to be materialty misstated. ￿ wo identify 8ueh material inconsistencies or apparent materiat rnisslalements, we are required lo delerrnine wh6lher this gNes rise to a matenal misslatemenl in thg financial stslements themselves. 11, based on the work w haNe perfomied. we conclude tlwt th•r• is a maternl M￿tatement ol thi6 Other infomialion, r&outy•d to reFQrt that fact. Wo nothing lo rw in this regard. Opinion on oth•r mattgrJ pre$CrI￿d by th• Compan1•$ Act 2008 In our opinion. baMd on the woth undertaken in the course of the audit. the inf0m￿li0n given in the TTU$tees' raport for the finwrjal ft)r vthlch th• ffinanual statements prepared is consistent wrth tho financial statements. the Trustees, report hag been prepared in accordance wlh applicable *al requirements. •Aatt￿5 on ¥thlch vm arn r•gulred to report by exception In the light of our knowledge and understanding of the thantable company and ils enV￿OnMent obtsinthl in the cour¥e of the audrt. wa hava not hlenlified material misstatements in t￿ Truslges, report. We have nothing to rwrt in respect of the folowng matters n relatson to Companies Act 2(￿ Trwires to TeFvt to you rf, in our opinKJn.' adequatè accounting records h*ffj ncA bgen kepc w relums adequate for our audit have nc4 boen received from branches not visited by ui., the finan¢ial 8tatem•nts are not in agreement wrth the accounting records and relurn$,' or certain disclosures of Trustegs, remuneration specified by law are not made. or have ￿1 recwved al the infomwtion aThJ expkinalions wè require for our audf(,' or the TnJstees wore not 8ntiUed to prepar8 the financial slaloments in accordance wrth the 8maU compan￿3 regime and take advantage of the small companies, exemptions in preparin9 thè Trustees. report and from the requiroment lo preparo a Strategie report. Pago 14 GOLD HILL BAPTIST CHURCH IA company limited by guarante•) INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF GOLD MILL BAPTIST CHURCH {CONTINUEDI Respon$lbilities of tru$te A5 explained mom fulty in th& Trustees, responsibilrties slalemenl, Ihe Trustees (who are #Iso the direclofs of the chantable company for the Pufposes of company lawl are responsible for the preparation of the financial 8tatements and lor being satisfied that they gNe a Inje and fair vv*. and for such intemal eontrol as the Twslees detemine is necessary to enable the pr8parknn of financial 5t*em6nts that are free from material misststement, tsthether due to fraud or error. In preparing the financial slatemenls. the Trustees are responsible for assessing the charitable crynpanws 8bilty to continue as a wng concem, disclosing. 85 applicable. matler5 rnlated to wng concem and usnig the ping concem basis of accounting unl0$5 the Trustees erther intend to liquidate the ¢haritable company ￿ to cease opefations, or havo no realigtic allemativa but to do AO. AuditorJ' r•spon$lbllltl•s for tho audll of the 1Snanclal stat•ments ¢)Jr obi¢ctNes arn to obtain reasonable a8surarKe about the financ￿1 slalement$ M o whole are free from malef1￿ misslalement. whether to fraud or efror. and to issue an Audrtors, report Ihal include5 cmjr opinion. R8asonable assurance is a high level of assurance, bul is not a guarantee that an 8LTrdrt ¢onducted in 8ceordan¢e with ISAS IUKI ￿11 a￿ayS detect a malenal mi5slatemenl when it exists. Misstatements can arise from fraud or error and a￿ conshlered malorial rf. Indimdualy Of in aggregale. they could reasonabty be expected to infiyence the economic decisions of users taken on the basis of these financial slalements. Irregularities. including fraud, are instances of non•cempliance with laws and regulations. We design proeedtjres in line wrth our responsibilrties, outlined above, to detect material misstalemenl$ in ￿SpeCt of irregularities, ir￿￿dir￿a fraud. The extent to our procedu￿5 8r8 ￿Pable of deteclin9 irregularitses. including fraud is dglaiba bekx.. We gained an understanding of the legal and regulatory framework applicable to the ¢hantable company and the industry in rt operates, ar￿ consbdered the risk of xts by the charitable company that were contrary to applicable laws and re9uklions, induding fraud. We designed audit procedures lo respond to the risk. recognising that the risk of not detecting a malerial misslatemenl due lo fraLvJ i¥ higher than the risk of rK detecting resulting from efrcrf. as fraud may invO￿e delibefate ¢on¢eaknenl by. for exary>￿. forgery or inténtional misrepreseft1at￿$. or through colusion. We f￿￿356d on L*w8 and regulakn'ons 7+thich could gbve rise to a material misstatemenl in the fKbancial 818lements. including, but not limrted to, cOr￿nieS Act 20C6, Chanties SORP IFRS 1021 and UK tax islalK)n Our test8 includéd agreeing the financial statement disclosures lo undertying supportin9 documentation and enquines wrth management. In additson to this, during the courne of the audit our testing revithved expenditure on charilabte activit￿$ lo provide assurance that costs were relevant to th& charrt¥s tivilies. As in au 8udrts. we also addr8ss•J the risk of management ovemde of inlemal controls, includin9 testing journals and evaluating whether th•r• was gvidence of bias by lh• trustees that represented a risk of malenal mis¥talemenl due lo traud. Thero are inhefenl limitations in the audit procedures de$cribed above and, th• fiJrth•r removed non-c0mp1iar￿e with lkns and iegulalions is from the evenls arKI tranSaCt￿n5 renocled in the financial statements. the less Iikgty would become awar• of it. Wo did rK>t identfy any kay audit matters relating to irrggulalit￿$. includin9 fraud. A fijrttr￿r d0$crwtion ol re¥ponst*ilth'es fty thg a￿t of tho financial slatwnents rf kYAteAI on the FKiancial Reporting Councifs websrte at.. .ukla This description fomii part cl our Auditors. report. Pap15 GOLD HILL BAPTIST CHURCH IA Company limited ty guarantee) INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF GOLD HILL BAPTIST CHURCH ICONTINUEDI Uv of our ￿pOrt Thi8 report is made sol8￿ lo the charitable company's members, a8 a b¢>Jy, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audrt work h88 been undertaken so that we might state to the charitable companls membgrs those mallers we are required to stale to them In on Audrtors. rep)rt and for cther purpose. To the fullgst extent permitted by we accept or a85ume respongibilty lo anstine olher than charitable company and its membef5. aB a body. ILY our •Ail work, for this report. Of for the opiniong Wlge & Co Chartered Accountants and Statutory AuditcK• Wey Court West UnDn Road Farnham Surrey GU9 7PT 31 101 12D2 Page 16 GOLD HILL BAPTIST CHURCH (A company Ilmited by guarantee) STATEMENT OF FINANCIAL ACTMTIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNTI FOR THE YEAR ENDED 31 MARCH 2021 UnTe$trict8d funds 20 Restrlctgd funds 2021 Totsl funds 2021 fiJnd$ Note Income from: 1kngtKsn$ and beg￿$ Charrtable a¢ti¥ities Invesln*n18 525.244 3,985 40,599 326,326 4,953 851,￿0 8,938 40,599 5.685 763,076 38,283 64,033 28,516 331,279 X.792 893,W8 Total Incom• Expendkturg on". Charitsble 8Ctiv(ties 675.513 564.031 80,658 644.689 712. 170 712.170 Tol•l •xpendlture N•1 incomo bth•rn n•t losses on Investments $64.031 80,658 644,689 250,621 262,103 181.738 Nd losses on investments (148.5CLI) N•t Incomo Transfers betweon fundi 11.482 161.2731 2SO,621 61,273 262,103 33,238 20 {49.7911 311,894 262,103 33.238 Not movemont In fund• R•concili•tlon of fvnd¥: Total funds brought forward Net movement in funds 2,451,488 149,7911 3,563,804 311,894 6.015.292 262.103 4982,054 33,238 2.401,697 3.875,698 6.277.396 6,015,292 Tot•1 funds ¢arrlod forw•Yd The Siatem8nt of financigl adivities includes al wns •nd10ss8s rocognised in the s•w. Tha rth on pagos 21 to 49 form part of th08• financial statements. Page 17 GOLD HILL 8AFnST CHURCH IA company limitèd by guarantee) REGISTERED NUMBER: 8043770 BALANCE SHEET AS AT 31 MARCH 2021 2021 2020 Not• Flx•d a8aets Tangible asset• Investments Irwestment Property 13 15 14 7.900,834 4.816,636 1.006.756 2.062,502 8.907,591 6,8T9.139 Current ass•ts Stocks Deblorn Cash at bank and in hand 16 17 3,018 187.989 1.006.693 4233 120,406 1,540. 134 1.197,71)0 1,665, 773 Credrtors.. amounts falling due within cffie 18 11446.3491 (1,960.316) Net Current Ilabllltles 11.248,6491 (294.543) Total aM•ts IM• curr8nt Ilabilttl Creditors". amounts falling due aft•r mc 7,658.942 6,584,596 19 (S69.￿￿) Totsl n•t •ss•ts ,277,394 6,015,292 Charlty lund$ Restrided ftbnds Unreslricled fundi 20 3.875.698 3,563,W4 Designaled fundl Gener￿ fuThJs Revaluation re8eN• 20 20 904.949 459,601 1.086,938 415,603 1,086,938 unr88trKaed funds 20 2,401,696 2,451.488 Tolal fvnd• 6.277,394 6.015,292 The Trustees ackn¢)wledge Iheif responsibilit￿$ for comptying wlh ttlo requirefmnts of th• Act *ith respect to accountin9 records and preparation of financial statemenls. Pap18 GOLD HILL BAPT13T CHURCH (Acompkny Ibm#•d by gu•rarrt••} REG18TERED NUMBER: 8043770 BAL*J4CE 8HEET IC¢)NTINUEDJ AS AT 31 IIARCH 2021 TM IlnBnelal 8iat•mants Iw¥e b••n PrnPArnd kn ae¢Ordan￿ wllh th• PTOVi•tyTh I￿l￿blO kn w￿11106 Jubpd tr> Str￿ 8l$hop (rrust•ol 2022 Th• on pagw 21 P4• 19 GOLD HILL BAPTIST CHURCH (A company Ilmitsd by guarant••l STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2021 2021 C•sh flo￿ from operating activStAes Nrt cash uwj in operating activities 38,378 1.320.486 Ca•h tr10￿ from invHting activiti•s Diwdends. intèrests and rents I￿rn inv98tments Purchase of tangible fixed assets Proceeds from sale of investrnents 40.599 64.033 {3.085,436} (1, 792,093) 1.035,745 N•t cash uvd In lThv•stlng actlvltlos {2,009,0921 11.378,0601 Cmh IIM from financlng a¢ttvttles Cash infknys from new borrowing Repwenls of borrowng 1.545.200 (107,927} 552. 1 (93,628) N•t cash provld•d by flnanclng actlvStleJ 1A37.273 458,472 Ch*ng• In cuh ind cmh oquivalents In th• year C•h and cash 8quNalenls at beginning ofthe ￿•r 1533.441} 1,540.134 400,898 1, 139.236 Cash and ea•h •qUIva￿Dts at th• •nd of th• yo•r 1.006,693 1.540, 134 notes on pages 21 to 49 fm part of th•86 financial ststsments P•Je 20 GOLD HILL BAPTIST CHURCH IA company Ilmlted by guarante•l NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 Gen•ral Infomiatlon Goll Hill Baptist Church is a corporate chanty limfted by guarantee. incorporated in England and Wales. Regtstered Numbor.. 08043770 Its pnneipal office is al The Hub, Church Lane, Chaffont St Petsr, Buckinghamshire. SL9 9RF, ErvJland. Accountlng pollel•s 11 Ba•1• of pr•parntion of financlal stat•M￿ts The financial slalemenls have been prepared in accordance with th6 Charrties SORP IFRS 1021 Accounting and Reporting by Char￿"9s.. Slatement of Recommended Pract¢e applic*lg to chwrt preparing theif oceounts in accordance wrth the Financial ReportirKJ Standard applieable in thè UK and Republic of Ireland IFRS 1021 leffeclive 1 January 20151, the Financial Reporting Standard applicable in the UK and Republic of I￿land IFRS 1021 and the Companies Ad 20C6. Gohj Hll Baptist Church m88t$ the definrtion of i public benofft entty under FRS 102. Assets and liabilities ara initialty Tgcognised at historical cost or transaction value unless Qtherw8e statejj w) thè rdov•nl accounting poly. 2.2 Golng cone•rn After making appropriate enquiries, the Trustees ha%* a reasonablg OXFectation that the company has adequate resourcos to continue in operational existence for the foreseeable futura. For this reason, they continue to adopt the going ¢oncem basis in prepariry the financial stslements. Page21 GOLD HILL BAPTIST CHURCH IA company Ilmlted by guaranioel NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 Accountlng pollcie¥ Icontinuodl 13 Inc(•me AJI income is recconised onu tho Company has enlidemenl to th• income, it is probabl8 that tr In￿Me will be Teceived and the amount of incrAne receivable Can bo measurgd reliably. The r¢¢ognili?n of income from legack8s is dependent on establishing 8ntrtlemenl, tho probabilty cl receipt and the abilty lo estimate wth SuffI￿ent accuracy the amount receivable. Evidenee ol enlillemenl to a legacy exists when the company has sufficient evthnce that a gfft has been to them Ilhiough knowledge ol the eXiste￿e of a valhd ￿11 and tho death of the ￿nefaCtor) arnl tho eX8culor is satisfied Ihal t￿ Pfopety in question wiu not be required to satisfy claims in thè est*•. Receipt ol a legacy must b8 reccgnised rt is probable Ihat rt ¥&ill be received and the lair vahAI of the amount Teceivable. vthi¢h 98nefalty be the expecled ￿$h amount to be disth"buted to th company. can bo reliabty Trnasurod. Grants ar• induded in the Statement of financial activities on a r¢coivablg ba$i$. The balance of income re¢8Nfjd for speeffic purposes but not expended during the period is shown in the retevant funds on the Balance sheet. w￿le irKLvne is received in advance of gnlitlemenl of re￿Ipl. its recognrtion is deferred and included in Creditors as defèrrèd incom•. Whèrè entitlement ctturn before income is reeewed, the income is accrued. Gifts In kind donated for dislributKJn arn included at Valuat￿n and ￿COgnised as income Wth￿ th are distributed to the proiett5. Grfts donated for resale are included as lnccrfr￿ when they are sold. Whwe the donated gc#)J is a llxe(10880t. it 18 measured at fair vahje, unl859 it is inpractul lo m•osur• this reliably, in case th8 cost of the item lo donor shoukt b8 used. The gain r& rwnisad as Income from donalions 8nd a corresponding amunt is included in the apprq)nate fixed asset class and depreciated ovor the u$8ffiJl economie life in a¢¢ordance with the companys aceounting policies. On recelpl, donated professional servi¢68 and facilities are recognised on tha basis of the ¥a￿e af the grft lo tho ¢ompany whi¢h is the amount it woukl have been willing to pay lo obtain services or fa￿litIeS of ¢quivalenl econcffiic benefrt on thts open market,. a corresponding amount is then re¢ogni$ed in expenditure in the period of receipt. Inco￿ t&Y rocovwable in relatim to donabons received under Grfl Awj cr d*ds d covenant . recognised at the tine ofthe d(matN)n. lJhèr ￿￿t￿m• i• reewised Hi thè pefi(*J in wthich it is receivab￿ and to the extwrt the gocmjs hawj en provid•d w on completKJn of Ihe 8•Nu. 2.4 EXpendI￿r• Expendrture is recognised once th8￿ 18 8 l•gal or con81ructive ¢)bligation to translef economic ber*fft to a thlrd party, rt i¥ probable that a ITansfeT of economic benefits will be requimd in settlement and Ihe amount of the obligation can be measured ￿118bty. Expendibjre 1$ clasSrf￿d by activity. The eosts of each activity ar• made up of the lola ol direct costs and shwed costs. including support costs In￿e￿ in undertaking exh &livty. Direct costs attribulable lo a single adNity wo allcKaled dir8Ltty to that activity. Shared costs which contribLrte lo moi¢ than on8 actNty and support costs whth are )t attnbLrtabk lo a single actNty are apwrtioned betsveen those activities on a basi5 consistent with the use of restsjrcés. Central staff cosls are ￿lOcated on the baws of time sp•nL and deprecialbon charges alkxated on the po￿On of the au61'$ u￿. Page 22 GOLD HILL BApnsT CHURCH {A company limit•d by guarnnto•1 NOTE8 TO TrIE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 Accountlng pollclos {continuedl 2A Ewndlture Icontlnued} Expèndrture on ¢harrtable a¢tNities is In¢urTed on dir¢¢tty undertaking the activities whth further th• companls objectives, as well as any associated support costs. Central support Costs haN* been alkcaled on basis of resources used and have b8on apportioned the to CO8ls of tho ¢hurch activitie5 arKI to goveman¢e cost8. (knmanee costs conwrise dl C￿ relating lo the public accountabilty of tho Church aThJ its Compliance with regulations •rKI good practice. Th88e co•ts include costs rekting to the statutory oudit. Grants payabb ar• char9ed in year when the offer is made except in those casès where the offor 1$ condrtional, such grants b8ing recognised a8 expendf(ure when the ￿nditionS attaching are fulfilled. Grants offered subject to condition5 wtt￿h have not bwn met gt the year and aro notsd as a Commitment, but not x¢rued 88 expenditu￿. Al eynditure is hidusNe of irrKiJverablg VAT. 2.5 Government gr•nt• Grants accounted uThJor tho aeLrual8 m￿Je1. Grants of a revenue nature ar• recognised in the stateM￿t of financi81 a¢tbVities in the sarm penod as tho rdat•d oxpenditure. 16 InlerKt rncelvabl• Interest on fiJThJ5 held ¢M d6posfÉ i8 irduded vth•n recwvabh and thè amount can be measured reliabty by the c￿pany.. this is n￿alty upon noIrf￿alIon of the wrteresl w'd or pay￿)￿ by th6 in$tstutKm *tKrfn tho funds wo deposileAI. 2.7 T•xatlon The ery8ny is considered to pass the tasts $8t OLrt in Paragraph 1 Schedule 6 of the Finance A¢t 2010 and thereforg rt meet$ the definrtion of a charitable company for UK corpor*ion tsx purposes. Accordingty. the conwany is potentially exempt from taxation in respect of incomè or caprtal gains received within c*egories covered by Chapter 3 Part 11 of t￿ Corporation Tax Act 2010 or Seth"on 256 of the Taxation of chargeab￿ Gasns Act 1992. 10 tho 0Xt•nt thal such income or gains are applied exclusivefy to charrtable pU￿Ose$. Pag8 23 GOLD HILL BAPTIST CHURCH IA company Ilmited by gu•rante•) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 Accountlng pollcleg Icontlnu•dl 2.8 Tanglble fix•d •u•ts •nd depr*ciation Tangible fixed aB80ts costing £1,200 or more are caprtalised arKI recognised firture •COn(￿C bgnefrts ar¢ probable and the Mst N valu• ofthe awt can be rneasured reliabty. Tan9ibl¢ ffixed usets are initi8lly recognised at cost. After recognition. Ur￿er the cost model, tangible fixed a$￿ts are measu¥ed at cost less accumulated depreciation and any accumulated impairmenl losse$. Depreciat￿Sn is not charged on freehold land. All costs Incurred lo bnng a tangib￿ fixèd asset into its intended working condrtK*n shwkl be Induded in th• mea5uTem8nl of cost. Freehold18nd and buildings are not depreciated as the properties are maintw'ned and therefore rb the opinion of the Trustees the value of the properties is reducing. Assets wi Coul￿ of construction ￿ includèd at cost$ incurred lo d•ta. Depreciation on these agsds 18 not charged until they •ro brought into u￿. Depreuation ￿ ¢har9ed so a• to alocats thg cost of tangible fixed 858•ts Itss Ihtyr residual val ¢)verththr estimated Y￿1 livM, using tho straight4ino method. Deprwallon is provided on the lollwng bA8es: Motor vehic￿$ OTre equipment 33% slraighl lino 33°h straight line* 2.9 Investfftent prop•rtl•s Investmant properties are included in tho 8alance Sheet as thoir fair ¥8lu8 in 8¢¢1ydanc• with FRS102 and are not depreciated. Choryes vabje aro recogniséd in the Stalen￿1 of Fiiancial Actsvty. 2.10 Invèstmènts Fixod ass•t investrnents aro 8 fomi of finanual InstTument and are Inthalty recognised * thth'r transaction cost arKI sutisequenuy measurod * fair value al the Balan¢& sh•el dalo, unless the value cannot be measured reliabty in which it is measufed at CO81 less Impaiment. Investment gains and losses, whether r8alised ¢* unrealised. are CCAnbined and presented as 'GainsllLossesl Invesbnents, in the Statement of financ￿1 activities. Investment8 In subsidiaries are valued at cost less provision for imp8irnenl. 2.11 Stocks Stctks •ro valued at the lthv•r of cost and ngt realisable valuo after making due oHowance for obsolete and slow-moving sttKki. Cc4t Includes all dnct co3t• and an appropriate propOrt￿n af fL%•d and variable overheads. 112 Deb¢or¥ Trade and other debtor3 wè recognisgj at the settlemènt amount after any lJade discount offwod. PrepayThenls we v￿ued at tho •nount prepa￿ net of any trade dis¢ounls due. Page 24 GOLD HILL BAPTIST CHURCH IA company Ilmlted by guarant••) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 Accountln9 pollcie$ 1contlnu￿l 2.13 C•¥h •t bank and In h•nd C•$h * bank and in hand In¢lud¢s CA8h and short-temi h￿hlY Ilquid investments wrth a short maturity of threé months or108s from the date of acquisition or opening of the depo$il or similar accounl. 2.14 Ltsbllltle* and provislons 'abilrties are reeognised when thern is an obligation at the Balance st￿1 date as a result of a past evenl, rt is probable a Iran51er of economic benefit will be required in settlernenl. and Ihe arrw)unt ol Ihe setuemth can bo estNnated relithty. Liabilrt￿s arn rwnised al ￿0￿nI that the ￿npanY antscipales pay to settle the c* the ￿K}Unt it has received as ao**ced p8ymen15 for the goods ¢y sgrvices il musl provide. Provisions are measured at the best estimate of the amounts required lo settle the obligation. Where the effect of the lime value of mongy is material, the provision 1$ based on the present value of tho8a amounts, discounted at the pre•lax di$count rate that reflects the figks specific to the liability. The unwindirg of the discount 18 recognised in the Slalemenl L* financial activilEes •8 a finance co 2.15 Flnanclal Instruments Th• comparry onty has finan¢ial aThJ ffinaKial liabilitss of a kknd that qualify 45 basi¢ financial inslrumenls. Basic financial instrumonts ¥8 Initially recognised at tran$adJon valuo and subsequenlty measured at they settlerrnnt vduè with the exception of which are subsequendy measured at amorttsed cost using thg eff￿￿"Ve interest r￿hod. 2.16 Oporaling I••M• Rent815 pa*J under operating aro charged to tho Statement of financial actsvrties on a straighl line basis over the lease 18m. 2.17 Penslon8 Tho company operates 8 defined contribution penston scheme and the pensvjn charge represents tho amounts payable by company to the fund in respect of the ￿ar. The company has set up a StskehokJer P￿$￿Th Sthomo Televanl staff •fe offw•J conln't4Jtic to personal pènsiofts wilhin three months of starth'ng serv￿, whth are *counted for as they fall due. The pension charge represents the amounts payable by the comparty to tha fi#id in respecl cl the ar. P48 25 GOLD ￿LL BApnsT CHURCH IA company Ilmltsd by guarantee} NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 A¢countlng poll¢les {conllnued) 118 Fund accounting Gonèral fund8 are unrestricted fund8 are available for at the discretion of the Trustees in frjrtherance of the general objectives of the company and ￿1¢h have not been de$ignated for othor purposes. D8sKJnaled funds comprise unreslricled funds that have been set aside by the Trustees for particular pu￿0$8$. The aim use of •a¢h designated lund is MI out in tho ￿￿% to the final￿￿1 staloments. RestTKted luThJ$ ¥8 fuThl$ 7hthich Wo to bé u8eAI in accord￿te wlth speethe restnckn"￿s impos•Y by donors or which have been raised by the company for particular pu￿OseS. The costs of raising and administering such fvnds ate charged against the specthc lur#J. The awn and u8e of each reStr￿ted fund is set out Mi the notes to thé financknql slalemenls. Investment incom¢, gain5 and10•￿ ar• alktated to th• appropriato fund. Crltlcal accountlng ostimatss and *r•M ofJudgm8nt Estimates and judgments are continudty evaluated and are based on historical eXpe￿nCe and thr faetors, including expectations cl future events that are believed to be reasonable under the circumlances. Crlical accountKbg estimates aThJ a8sumptr"ons.' Th8 ¢￿panY m*88 e81imates and as8umplion$ conceming the futuro. The resuhing aecounting estimates and assumptions will. by definrtion. 881dom equal the related actual re8uAs. The estimat￿ and assumptions Ihal have a significant risk of causing a material adiustmenl to the carying amounts of assets arKI liabilities Within the noxt financial ye8T are discussed beltrw. Crthal areas cl jud9ment.' Tafigib￿ fixed 888ets are depreciated ￿ ththr usafvl taking inlo accoufil residual value8 appropriate. The actual lives of assds and residu￿ value5 are assessed annually and may vary depending on a nvmber of factors. in r&assessing the 4$8Ot live5, factors such as technological innovalK)n, prcduct lrfe cycles and maintenance programmes are taken into account. Residual valu08 consider future market ¢ondrtions, remaining lrfe of Ihg asset and projected disposal values. P40 26 GOLD HILL BAPTIST CHURCH IA company limited by guar•nt••l NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 Income from donatlons •nd leg•ci•s Unr•8trfeted Restrlcted funds funds 2021 2021 Total fund• 2021 Donations Legacies Grants Govern￿nI gr&nts Gold Hll Church Tru8t donal1c￿$ 18,481 64.747 295.572 312.053 84.747 9.713 80,111 9.713 20,241 29,870 414.146 Totsl 2021 525.244 326,326 861.570 Unreslricled Restiicled lunds 2020 2020 2020 Donations Gokl Him Church Trust donations 28,406 440,552 291,813 320,219 442.857 Total 2020 468,958 294, 118 7&3,076 An•ty$l8 of donailons 2021 2020 Hub Hoart Hcrfrn {HHH) Hcpè Comrnunty Church Gener81 Offenng Collection MisS￿n Fund Femowshp Fund Crthèr Offering Collection 270,892 14.411 267, 21,420 12.740 2. 7LKI 18,445 1020 978 312.OS3 320,279 Pago 27 GOLD HILL BAPTIST CHURCH (A company IlmSted by guarantM} NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 Analysls of Church Trust Don4llon3 2021 2020 Genoral Fund Gfft8 to Individuals on behdl of th• T[￿l- reslricled 414.146 440.552 2.X15 414,946 442,857 Income from tharltable actlvltl•* Unrestrl¢ted R•strlcted funds funds 2021 2021 Totsl lundg 20 Hope SeTvice$ Usts of P￿rniSeS 8ookshop and Media Unvlue L*e You 3.150 3.150 835 4.9S3 Tolll 2021 3,985 4.953 8.938 UnTrstncled Restrict8d fvnds 2020 Total lunds 2020 2020 Hcpe Servus Use ol Premises Bcokshop arKI Metha UnKiue Like Y 10.920 10,920 24,428 24,428 Total %Y20 13,855 24,428 38.283 Pa9e 28 GOLD HILL BAPTIST CHURCH IA company Ilmlted by gu4rnnte•l NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 Inv￿lMont incom• Vnr•stricted funds 2021 funds 2021 R￿ts1 income Bank interest 40,553 40.653 Totsl 2021 40,599 40,599 Unrestncled fvThYs Total Rontsl Incom Interest 64,￿2 31 64,tY)2 31 Total 2020 64,033 64.033 Oiher Incoming mour¢•8 Unrgstrlcted funds 2021 Total fund• 2021 Othw incc4ning re8our¢es 5.685 5.685 UnTrstnet•d fvnds 2020 Tot* 2020 otheT ineoming resouTces 28,516 28.516 Pa38 29 ¢X)LD HILL BApnsT CHURCH IA company Ilmllod ty guarante0} NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 Anatysls of oth•r Incom• 20 2020 Spring HaNest Incor Church Weekend Income M*$￿￿ Car Incomg Seniors Ministry 3.610 5267 62 379 4.135 13,997 $.686 28,516 Analysls of grants glv•n Gr•ntg to Instltutlon¥ 2021 Total nd• 2021 Gr￿, Ghibal Mission Gold Hil Ministries 99,336 99,336 Gr8nls to Inslilulions 2020 Tot&1 fvnds 2020 Grants, Gkjbal Mission i>)Id Hill Ministnos 107.531 107.531 Anaty$i¥ of gr4nts glv•n 2020 Grrlrts payable to Gktsl Miss Paym•nl ol Fe#ow8hip Donatsons 93.121 6216 95931 11,600 107,531 During thg of the grants payable, £88.236 {2020'. £95,8S3) wwe from unrestricted fund• and £11.10012020.' £11.6781 were from restricted funds. GOLO HILL 8APTIST CPIURCH IA company Ilmll•d by guarantee NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 Anatysis of oxpendlture by actlvluos Actlvitles undertaken directly 2021 Grnnt funding of tlvities 2021 Support costs 2021 fvnds 2021 Gthal Mission Gold Hill Ministries Expendrture of Designated Income 80,C61 800 99,336 464,492 643,889 800 Total 2021 80,861 99,336 464.492 644,689 Aclivilies undertaken directly 2020 Grnnl funding ol aclivilies 2020 Support osls 2020 Td funds Gb)b81 Mission Gc4d Hill Ministries Eypenditure of Deswnaled Income IM850 107,531 466,249 707.630 4.540 Totel 2020 t38,390 107,531 466.249 712. 170 Page31 GOLD HILL WTIST CHURCH IA company limited by guarant￿? NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 Analysis of oxpandituro by a¢tlvities Icontlnuedl Anatysls ol dlv•cl colts To¢*1 funds 2021 Tdal fuThts Expenditure of des￿nated ifKome Expendrture M book$ •nd ta Water rat8s Hoat and IvJht Worship support oThJ ev•nt• Vtsiling speakers Mk88ion t￿nIng Ministers exponsas and r•nt Youth projects Prq>erty exponses Unique Like You Church Maintenance Community Church 1.819 205 5.050 7,816 2,977 177 10,355 19, 195 7YJ 1,223 11.785 15,834 20, 134 28,620 3,369 4,432 16.108 32.660 4901 3,651 10,894 80,861 138,390 Included within Unique Lik• You co8ts are c*)eraling1oa$• r•ntal co•t8 of £15,00012020.. £15,000) for the rental pr•mo8is. Al of the Unw4ue Like You expendrture was paij Irom rostricted fvnd$, with •1 other expondrturo bwng unrestn"cted. Pag• 32 GOLD HILL BAPTIST CHVRCH (A company Ilmit￿ by guaraTrt••l NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENOED 31 MARCH 2021 Anatysls of expondlture by aetlvltl•s Icontlnyedl An•lysi5 01 support cNts Total fvnd• 2021 Total lunds 317.966 14,829 13.961 3.296 304,260 t4,609 12,229 Printing, postage, stationery and ta*hone Computer supplies Sub5cTiptsons Insurance Bank charges Depreciation Miseellaneous Minibus expenses Other staff costs Breadhous Heart Hom• 7,442 467 1,219 769 16,3 3,503 16,675 4.075 28.032 3.061 2,801 44.250 1492 16,515 36.098 Int•rn progrnmmo L(y*M road Loss on di$posal of inv88tment property and donati￿S 20,001 11855 18,574 464.492 466.249 Induded within Hrt* Heart Home expenditure i• £30,95012020'. £17.550) of Iwb interest. The Hub Heart Hcrfne expenditure ar￿ the 8Teathlouse expendrtura were pad restricted frjnds in bolh years. In the prnr ￿ar intem Pfogramme expenditure of £2.9TI was paid from restricted funds. Al other expenditure 18 unre8lricted. 10. Audllors. r•munèrntlon 2021 Fe8s p8y4ble to the company's auditor lor the audrt of the companls annual account$ 17,434 16.515 Page 33 GOLD HILL BAPTIST CHURCH IA company limited by guarant••) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 11. Stsff co•ls 20 2020 Wages and salaries Sock41 security C£&sts Conlributs'on lo defined conlnbution pgnsion schemes 2n.704 17.455 26,796 254.483 22,473 27,304 317.955 304.260 Dunng the ye•r. o staff r6stwcturing exer¢i$• was compk81ed and ts¥o positw)ns wwe mthdo rodundanL Th• average number of potsons omployed ty tho company during the year wao as follows.. 2021 No. Avorage numbor of staff 14 t5 Th• a¥erage h•odeount expres￿ •• fulktrn equNalents was.. 2021 2020 FUM time equivalanl ND emkno r•￿ved rwnunefati?n amounts.ng to rrK*e £60,000 in either yw. During the yoar the key rnanagement personnel le￿Tr, fomwl of th8 Staff eklers, ￿1* paij t(knl ramunwation of £171,36412020'. £171,359) 12. Trust•83' r•mun•ratlon Ind exp•nses During the year. no Trustees rnceN•d any remuneration or other beneffts (2020- £NIU. During tl* year enthl 31 Mwch 2021, no Trustee e¥)enses havo baon inCu￿ed (2020- £NIL). Page 34 GOLD HILL BAPTIST CHURCH IA c4Mnp•ny limil•d by guarant•e) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 13. Tanglble flxed a••et• Freehold property PAotor v•hl¢l•s •qulpment Cosl or valuatlon At 1 April 2020 AdditK)ns 4,843,495 3.08S.436 18,602 4.887,097 3.085.436 At 31 PAarch 2021 7.928,931 18.602 7,952.533 Depreciation Al 1 April 2020 Chaf9e for the year 30,573 14,888 1,238 50.461 1.238 At 31 March 2021 30,573 16.126 61M99 N•t book value At 31 Mach 2021 7.898.358 2h76 7,900,834 At 31 PAwch 2020 4,812,922 3, 714 4,816,636 The Baptist Un#* corp(￿atiOn Lwnitad arn the Ide custOd￿n Irustees of the folkwiing prOpert￿S t bghaff of the Church: - Burial ground - Cha￿1 and lanthuildings at Gold HAI Common Eost Th•8• propertles are included in Iho financial statements at no cost as th? cost cannot ea•ity ascertained and the value is unlikely lo bé ol material interest to users of the financial ststemenls. Page 35 QOLO HILL 8APTIST CHURCH {A company Ilmlled by guardntèel NOTES TO ThE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 14 Invostmont property Froehold Invè5tmgnt property Valuation At 1 &Dril 2020 D￿￿16 2,062.502 11,055.748) At 31 Marth 2021 1,006.756 Valuations in 2016 were mado by 8 qualified ¢hartered surveyor. i)n an op•n m**•1 value for existing u¥e bui In considering later ValUat￿n5, tho Truste88 havo th8 lat￿1 mark81 valuations (*tsined from loc estate agents, assessing the expected impact olthgse across all propertie5 held. They consider that thgse ar8 reasonably recent lo provKle an accurate valuation of the propety values 88 at th6 year end. GOLD HILL 8APTIST CHURCH (A company Ilmltsd by 9uaranteel NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 1& Flx•d a•••t Investments Investments Jubsldiary companies Co8t or ¥aluatlon At 1 Awil 2020 At 31 Mwch 2021 N•t book value At 31 Mwch 2021 At 31 March 2020 Princip•l sub51dlarl Thg foknving was a subsKliary urKlertaking of tho company.. Nam• Company number Holdlng Un4ue Lk• You Limited 09588313 The c(￿paThY wa8 doffnanl throughout the pwic*J from irtorporalion. Therefore group aC￿UnIS havo not bean propared. AN fixed 458Ot investrnenls am held in the U 18. Stocks 2021 Fink8hed gc*)d8 and goods for r88alo 3.018 5,233 Pap 37 GOLD HILL BAPTIST CHURCH {A company Ilmitod by guarante•) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 17. Debtors 2021 2020 Due wlthln one year Other debtors Prepayments and accrued income 185,158 2,831 111,197 9.209 187,989 120,406 18. CredltorJ'. Amounts falling duo wlthln one year 2021 2020 Other loans Trade credttors Other taxati￿ and $o¢ial securty other eredilors Accruals and deferred income 1297A76 775,510 433,034 4,809 477.258 269, 705 4.076 599.764 544.433 2.446,349 1,960,316 Induded within other loans is £91,778 {2020.' £33,847} due to the Baptist Union whi¢h 1$ secured by fixed charge over the freehold propety owned by the charty. Techspan House Iwhi¢h 15 known as the Randall Building), Church Road. Chawont St Poter. Also included ￿￿thin other loans in the pr¥)r year is £9,564 due lo the Baptist Union which is secured by a fixed charge over the freehokl property ¢)wngJ by the charity, 47 Layters Close. Chaffonl St Patsr. other loans also irKlude loan$ to thg sum of £1,205,70012020.' £732,100). These have boon provided by Church members lo facilitate the purchase of the Randall Building during 2016, to make repayments on the Baptist Union loans and for the furtherance of the HHH project. Included in the ban$ by Church meml)ers 1$ an interest bearing108n of £98.￿0 {2020.' £124,000) wh￿h ts fixed for a term of 8 yeaT and then repayable on demand. The remaining loan balance consists of interest free. Unse￿red, short temi loans. Oth•r crèdltors Included within other creditors are funds held as agent. During the year in¢m Hub Heart H¢Jme IHHHI reStr￿ted funds lo general unrestricted funds. These transfers were contributitins to th• cover tho ¢ost of staff timo 4>ont on Ihw projects. Ourlng the yew a legacy of £64.399 waslgft to th8 church, a Pr￿￿￿$1¢g8cY of £5,f))O had al80 been b#ft to the church. No restrictions on the use of th•88 funds was prescribed by the donots btrt In memory of the d￿OrS ￿ Twslees felt il fittiThJ lo spgnd t￿ fvnds on the rw krtchen for the HHH project. A Iransfor has IherefoT8 be•n made from unrestricted fvnd8 to the restrKt¢d HHH fvnd for these an￿UnIs. Page 42 GOLD HILL BAPTIST CHURCH (A company Ilmlted by guarnnt•el NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 Statement of funds {contlnuodl Statement of fvnds - prlor yur 8818nc8 at 31 March 2020 8alanGe at l Apnl 2019 Trnnsfe i￿oul Gai (Lossés) In(r¥rnry Exwdilure Unlestri￿ad luThds Designated funds Propety Fund MiSs￿A Fund IParti Fellowship Fund {Partl 845,869 845.869 18,314 1,950 195,853) 99,755 24,166 4,834 3, 737 4.834 3, 737 Road Gffts to Mi8sion Fund Communty MisS￿n FurKI Other Desvjnated Gift¥ 448 3.318 3.318 2Z577 22.577 899.LVJ7 f,9 195.8S3) 99.755 siM,949 G•nernl fvnd• General Fund8- all funds Revaluation 260,052 573,412 (536,395) 162.&72 459.601 I.￿.022 {267,584) (148,5CQJ 1,086.938 1.763,074 573,412 (536,395) (105,052) (148,5CQJ 1,546.539 Total Unm¥trlcled fund# 2,662, 171 (632.248) (&29 {148,5￿} 2,451,488 P40 43 GOLD HILL 8APTIST CHURCH {A company limlt•d by guarnntael NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 Stat•menl of lunds (contlnu•d} Restrlct•d funds Fellowship Fund (Part} Unique Lik6 You Mvss*)n FuThJ 9,442 445 18,445 24,428 (11,6th9) (2¢620) 16.287 3,747 (Partl 62 750 734 Other restricted 9th from the Trust Sundry Gift8 Man88 Fund Hub Heart H￿ne Community Missv)n Fund Sponsorship of Pastor Gift• for IndivNJual Church Member Sponscnhip of Intem8 18112441 (1J81,648> 195,320 {1.867,6611 {1,672,331) Caplt•l commltm•nts 2021 2020 Contr•¢t•d for but Trot provlded In thtse Ilnanclal st•t•ments Purchase, construction or d•veh)pm￿I of lang*le fixed a88els 1,782,742 4.718.052 0￿￿•1 of •s••ts The Gold Hill East site, encompa88ing the Church. the Manse, Talland and cottage are lo be sold when the devebpmenl of the new site has begn Completed and is able to be o¢cupied. The carrying amounts of thew •wts at the •nd are £1.399,230. 47 GOLD HILL BAPTIST CHURCH IA company limit•d by guarantso) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 Penslon commÉtinent• The ¢ompany contributes to IndNidual's rnon￿ purchase pension schemes. The assets of the seh8me ar• hekl separalety from those of the company in an independently adminislfrred fund. The pens¢on cost charge fepres6nls contributions payable by t1￿ ccThpany to the frJrKI and amounted lo £26,79612020 - £27,304). Al pensK)n expendrtur8 1$ unrestrthd. Contribut¥)ns lolalling £1,44812020 - £2,437) wer8 poy*>le to the lund at Iho balance sheot d* induded in creditc￿$. Operntlng l•M• commllments Al 31 March 2021 the company commitsnénts to make fulwe minimum l•ase payments under ft￿- cancellèbse 0￿rating leases as folknws. Nol later than 1 Later than 1 year and not later than S yea 2,S70 1& 140 1,320 2.570 16.460 M•mborn'15ablllty Exh mombef of th8 ch•rrtabbg wmpany undertakes to conlnbute to the assets of the company in the event of it being wound up whitè he18he is a member. or within one yw after helshe ceases to be member. S￿h amount 85 m•4 be requirèd. not exeeeding £1 for the debts and li*>ilrt￿$ contracted before helshe ¢oasas to be a member. 31. R•l•l•d party transactlons The Gold Hill Chur¢h Trust 15 a separdle charity eslabli8hed in 1966 to advance the Chrislion Faith arKI exer￿$0 Christian charity by maing grant5 to Gokl Hill Bapt$8t Church and other8. The Church can exercise S￿nth¢an1 influence over the app)Intment of Tfusteès of Ihe Trust but as part of the purpose of the Trust was lo provide a degree of independenco for the donor8 to the Trust it is not thought appropriate to con8d￿ale the finanual statements of the Trust with tho88 of the Church. In pracliee mo gmng to the Church is gr4en the Trust. Income received from the Trust dunng the total￿￿ £734,712 12020.. £758,784). At the year end, there 1$ £104,700 12020. £38.497) included Nwthin other debtors whKh wa¥ colleded in M•rch W21. As 8t the year and direclor arKI Trustees of the Churth had provided loans to the Church lotsllir#J £82,00012020.' £87.000) toward$ the H8art prwt. These ar• included Ithin other lo Pago 48 GOLD HILL BAPT18T CHURCH {A company Ilmll•d by guarantMI NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 31 Po•t balanc• $h••t w•nts Th• ne* byilding called the Hub. being the hc4ne of Gobj Hill Baptist Church wa8 cwleled in Septanber 2021. The agreed contract price for the building amounted to £6,450,000 with an addrtional sum ol £439.345 to cover professional fees, audio visual and fft out ¢osts. On 3 Decwnl)er 2021 th0 8ala of the Gobj Hin East site Cotroleted, and the chanty received the bolance of the sum of £3.6m that was due to be p8id1£2,Q45,0001. From this s￿. £1,705,073 was u58d to repay th• balante M • Baplist Un￿￿ Bridging Loon Cfvrch rew¥&J the balance of £396,035. In December 2021, the Baptist Union agreed to grant a fvrth•f h)an to the Church ar￿ lo Consolmlate al the outslanding that rt has into one b)an lolth'ng £1,611,502 wh￿h is repayable over 15 year8 togelherwith a 8ridging f8eilty of £87.788. In *ldrtKsn, in December 2021, the Ctturth began to repay the OLrtstanding short-tenn loans that it had outstsnding in connection wth th• Hub Heart Home buikjing project. Controlllng party Thore is uttimal• conlrouing party. 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