Annual Report and Financial Statements for the Year Ended 31 March 2021 Shoreham Baptist Church Charity registration number: 1148191 Independent Examiners Ltd 2 Broadbridge Business Centre Delling Lane Bosham Chichester West Sussex P018 8NF
SHOREHAM BAPTIST CHURCH Contents Reference and Administrative Details Trustees, Report 2to4 Independent Examiner's Report statement of Financial Activities Balance Sheet Notes to the Financial Statements 8t018
SHOREHAM BAPTIST CHURCH Reference and Administrative Details Trustees Chris Leggett Mike Daintree David Buck Brian Hoad Val Lynn Denise Edwards Will Mason (resigned 15 December 2020) Charlty Registratlon Number 1148191 Elders Rev Ray Orr David Rollins John Lillywhite Andrew Lincoln Principal Office Western Road Shoreham by sea West Sussex BN43 5WD Independent Examiner G W Schulz ACMA Independent Examiners Ltd 2 Broadbridge Business Centre Delling Lane Bosham Chichester West Sussex P018 8NF Bankers HSBC 1-3 Warwick Street Worthing West Sussex BNII 3DE Page I
SHOREHAM BAPTIST CHURCH Trustees, Report The trustees present the annual report together with the financial statements of the charity for the year ended 31 March 2021. Structurei governance and management Nature of governing document Shoreham Baptist Church is a registered charity, number 1148191, and is constituted under a Trust deed. Oryanisational strurture The Deacons act as Managing Trustees of the Church and are responsible to the Elders for the day to day management of the Church. The Elders are responsible for the spiritual leadership of the Church. Risk Management Under the Statement of Recommended Practice (SORP) regulations, the Deacons, as Trustees, have completed an ongoing Risk Management review and have acted to minimise all known risks. Objectlves and actlvltles Objects and aims The principal object of the charity is the advancement of the Christian faith. The purpose of the Church is to declare God's praise, develop Christian disciples and demonstrate Christian love. Public benefit The trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales. Achievements and performance The Church has had a very different year due to the COVID -19 Pandemic. Sunday services and various sections of the Church transferred to online facilities and continued to provide a good service to all the members. As restrictions changed throughout the year some activities reverted to 'in-person' format. The Rev Ray Orr has continued as Minister. Financial review Pollcy on reserves The Church maintains a Reserves Policy to ensure that the Church is able to continue on good financial basis, meeting its financial commitments. The financial situation is regularly reviewed by the Trustees. Page 2
SHOREHAM BAPTIST CHURCH Trustees, Report Principal funding sources The deficit made by the Trust in the year amounted to £17,166 (2020 deficit £35,004). The Trustees note that the balance of £1,737,308 be carried forward as accumulated reserves. The Baptist Union are the custodial trustees of the church building used by the church which is responsible for the maintenance and upkeep costs. The church building has been included in fixed assets at the insured value of £1,700,000 and is being depreciated at a rate of 20/0 x 500/0 x £1,700,000. Going concern After a serious look at our accounts and budget the Trustees believe that, with adjustments we can safely move forward and have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. For this reason they continue to adopt the going concern basis in preparing the financial statements. Plans for future periods Activities planned to achleve alms The Church faced a long period of restrirted activity and service during the year past but the Trustees are optimistic that a good measure of normality will soon return along with old and new ministry activities. They do not expert any major changes to take place in the coming year. Page 3
SHOREHAM BAPTIST CHURCH Trustees, Report Statement of Trustees. Responsibilities The trustees are responsible for preparing the trustees, report and the financial statements in accordance with the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) and applicable law and regulations. The law applicable to charities requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to.. selert suitable accounting policies and then apply them consistently. observe the methods and principles in the Charities SORP; make judgements and estimates that are reasonable and prudent; state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements. and prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business. The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations, and the provisions of the constitution. The trustees are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. The annual report was approved by the trustees of the charity on 7 June 2021 and signed on its behalf by.. Denise Edwards Trustee Page 4
SHOREHAM BAPTIST CHURCH Independent Examiner's Report to the trustees of Shoreham Baptist Church report to the charity trustees on my examination of the accounts of the charity for the year ended 31 March 2021 which are set out on pages 6 to 18. Respective responsibilities of trustees and examiner As the charity's trustees of Shoreham Baptist Church you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act,). report in respect of my examination of the Shoreham Baptist Church's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(51{b) of the Act. Independent examiner's statement have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect.. l. accounting records were not kept in respect of Shoreham Baptist Church as required by section 130 of the Act. or 2. the accounts do not accord with those records; or 3. the accounts do not comply with the accounting requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fair view, which is not a matter considered as part of an independent examination. have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. G W Schulz ACMA Independent Examiners Ltd 2 Broadbridge Business Centre Delling Lane Bosham Chichester West Sussex P018 8NF 7 June 2021 Page 5
SHOREHAM BAPTIST CHURCH statement of Financial Activities for the Year Ended 31 March 2021 Unrestricted Restricted funds funds Total 2021 Total 2020 Note Income and Endowments from: Donations and legacies Charitable activities Investment income 87,385 3,275 29 2,396 8,009 89,781 11,284 33 116,393 18,776 117 Total income 101 098 135 286 Expenditure on: Charitable activities 100 915 118 264 170 290 Total expenditure 100 915 118 264 170 290 Net expenditure Net movement in funds (10,226) (6,9401 (17,166) (35,004) Reconciliation of funds Total funds brought forward 1 621 259 133 215 1 754 474 1 789 478 Total funds carried forward 13 1 611 033 126 275 1 737 308 1 754 474 The notes on pages 8 to 18 form an integral part of these financial statements. Page 6
SHOREHAM BAPTIST CHURCH Balance Sheet as at 31 March 2021 2021 2020 Note Fixed assets Tangible assets 1,730,147 1,750,503 Current assets Debtors Cash at bank and in hand 13,952 19,194 81,097 80,576 Creditors: Amounts falling due within one year io Net current assets Total assets less current liabilities 1,808,591 1,828,426 Creditors: Amounts falling due after more than one year li Net assets 1 737 308 1 754 474 Funds of the charity: Restricted income funds Restricted funds 126,275 133,215 Unrestricted income funds Unrestricted funds 1 611 033 1 621 259 Total funds 13 1 737 308 1,754 474 The financial statements on pages 6 to 18 were approved by the trustees, and authorised for issue on 7 June 2021 and signed on their behalf by.. IIJ. Denise Edwards Trustee The notes on pages 8 to 18 form an integral part of these financial statements. Page 7
SHOREHAM BAPTIST CHURCH Notes to the Financial Statements for the Year Ended 31 March 2021 l Accounting policies statement of compliance The financial statements have been prepared in accordance with Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102) (effective l January 2015) - (Charities SORP {FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011. Basis of preparation Shoreham Baptist Church meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes. Going concern The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern. Income and endowments Voluntary income including donations, gifts, legacies and grants that provide core funding or are of a general nature is recognised when the charity has entitlement to the income, it is probable that the income will be received and the amount can be measured with sufficient reliability. Donations and legacies Donations and legacies are recognised on a receivable basis when receipt is probable and the amount can be reliably measured. Gift aid Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation. Expenditure All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Page 8
SHOREHAM BAPTIST CHURCH Notes to the Financial Statements for the Year Ended 31 March 2021 Charitable activities Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them. Tangible fixed assets Individual fixed assets costing £500 or more are initially recorded at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Depreciation and amortisation Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their experted useful economic life as follows: Asset class Freehold property Computer equipment Depreciation method and rate 20/0 Straight line on building only 250/0 reducing balance Trade debtors Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. Cash and cash equivalents Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. Liabilities Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide. Fund structure Unrestricted income funds are general funds that are available for use at the trustees's discretion in furtherance of the objectives of the charity. Designated funds are unrestricted funds set aside for specific purposes at the discretion of the trustees. Page 9
SHOREHAM BAPTIST CHURCH Notes to the Financial Statements for the Year Ended 31 March 2021 Restricted income funds are those donated for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose. Pensions and other post retirement obligations The charity operates a defined contribution pension scheme which is a pension plan under which fixed contributions are paid into a pension fund and the charity has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods. Contributions to defined contribution plans are recognised in the Statement of Financial Activities when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment. 2 Income from donatlons and legacles Unrestricted funds Designated General Restricted funds Total 2021 Total 2020 Donations and legacies; Donations Gift aid reclaimed Grants, including capital grants; Government grants 192 71,361 13,952 2,396 73,949 13,952 97,199 19,194 192 116 393 3 Income from charitable artivities Unrestricted funds General Restricted funds Total 2021 Total 2020 Fees, grants and subscriptions other income 8,009 8,009 17,144 Page 10
SHOREHAM BAPTIST CHURCH Notes to the Financial Statements for the Year Ended 31 March 2021 4 Investment income Unrestrirted funds General Restrlcted funds Total 2021 Total 2020 Interest receivable and similar income- Interest receivable on bank deposits 29 33 117 Page 11
SHOREHAM BAPTIST CHURCH Notes to the Financial Statements for the Year Ended 31 March 2021 5 Expenditure on charitable activities Unrestricted funds Restricted Designated General funds Total 2021 Total 2020 Note Preachers and speakers Books and resources 75 15 Subscriptions and conferences Youth and children's work Special events Tithes and donations CAP expenses College fees Insurance Telephone Printing and Stationery Postage and sundries Room hire Building maintenance Equipment maintenance Light and heat Rates and water 1,152 1,152 1,320 243 181 424 315 4,264 4,293 315 16,188 5,500 259 3,015 579 2,376 8,713 18,564 14,213 259 3,015 579 24,726 12,199 859 3,090 805 897 23 920 1,165 176 210 2,780 2,780 7,580 1,265 1,798 3,003 66 144 1,265 1,798 3,003 66 144 1,874 4,030 2,915 676 144 Cleaning Professional fees Mortgage interest Independent examination Depreciation staff costs 506 2,726 3,232 3,511 1,500 17,026 1,500 20,356 2,100 20,364 3,330 315 100 600 118 264 170 290 Page 12
SHOREHAM BAPTIST CHURCH Notes to the Financial Statements for the Year Ended 31 March 2021 6 Trustees remuneration and expenses During the year, l Trustee received remuneration amounting to £5,441 (2020 - £2, 562). During the year, expenses totalling £3,513 were reimbursed or paid directly to 2 Trustees (2020 - 5 Trustees £2,209) for expenses incurred on behalf of the charity. 7 Staff costs The aggregate payroll costs were as follows.. 2021 2020 staff costs during the year were: Wages and salaries Pension costs 41,579 70,851 The monthly average number of persons (including senior management team) employed by the charity during the year expressed as full time equivalents was as follows.. 2021 No 2020 No Employees No employee received emoluments of more than £60,000 during the year Page 13
SHOREHAM BAPTIST CHURCH Notes to the Financial Statements for the Year Ended 31 March 2021 8 Tangible fixed assets Land and buildings Computer equipment Total Cost At l April 2020 1 885 000 6 675 1 891 675 At 31 March 2021 1 885 000 6 675 1 891 675 Depreciation At l April 2020 Charge for the year At 31 March 2021 83,600 6,572 26 90,172 154 930 161 528 Net book value At 31 March 2021 1,730 070 77 1 730 147 At 31 March 2020 1,801,400 103 1,801,503 The freehold property at 18/19 Buckingham Mews, Shoreham by Sea was purchased during 1995 at a cost of £91,500. In September 2000 it was professionally revalued at £185,000, and this amount is included in the accounts as its deemed cost under the new accounting framework. The building portion of the valuation, £166,500, is depreciated at the rate of 2010 per annum. The Church property at IA Western Road,Shoreham by Sea, has been included in fixed assets at its insured value of £1,700,000. The building portion of the building estimated at half of the total is being depreciated over 50 years. 9 Debtors 2021 2020 Accrued income 10 Creditors: amounts falling due within one year 2021 2020 Bank loans Accruals 1,693 960 1,693 960 Page 14
SHOREHAM BAPTIST CHURCH Notes to the Financial Statements for the Year Ended 31 March 2021 11 Creditors: amounts falling due after one year 2021 2020 Bank loans 12 Pension and other schemes Defined contribution pension scheme The charity is an employer participating in a pension scheme known as the Baptist Pension Scheme ("the Scheme"), The Scheme is a separate legal entity which is administered by the Pension Trustee (Baptist Pension Trust Limited). The pension cost charge for the year represents contributions payable by the charity to the scheme and amounted to £3,100 {2020 - £3,048). Page 15
SHOREHAM BAPTIST CHURCH Notes to the Financial Statements for the Year Ended 31 March 2021 13 Funds Balance at l April 2020 Balance at 31 March 2021 Incoming resources Resources expended Unrestricted funds General General Funds 1,596,240 90,497 (100,600) 1,586,137 Designated Reserve Funds Small Designated Funds 18,500 18,500 192 315 192 315 Total unrestricted funds 1 621 259 90 689 1 611 033 100 915 Restricted funds Children and Youth Group Open house Messenger Choir Fund Building Fund Christians Against Poverty Gift towards mortgage repayment Bosnia work and child support 913 139 193) 188) 123) (3,330) (8,713) 820 70 19 255 232 120,247 8,935 116,917 8,236 8,014 2,726 (2,726) 133 215 126 275 Total funds 1 754 474 101 098 118 264 1 737 308 Page 16
SHOREHAM BAPTIST CHURCH Notes to the Financial Statements for the Year Ended 31 March 2021 Balance at31 March 2020 Balance at l April Incoming Resources 2019 resources expended Transfers Unrestricted funds General General Funds 1,606,087 102,664 (112,141) (370) 1,596,240 Designated Reserve Funds Small Designated Funds 18,500 18,500 769 370 370 Total unrestricted funds 1 625 356 111 976 116 073 1 621 259 Restricted funds Shekinah Playgroup Children and Youth Group Open house Messenger Choir Fund Building Fund Christians Against Poverty Gift towards mortgage repayment Bosnia work and child support 26,280 5,774 {32,054) 59 163 2,085 453 {1,231) (477) (3,661) (3,330) 913 139 684 3,232 255 123,577 120,247 7,122 8,012 {6,199) 8,935 6,237 {3,511) 2,726 164 122 133 215 Total funds 1 789 478 135 286 170 290 1 754 474 Page 17
SHOREHAM BAPTIST CHURCH Notes to the Financial Statements for the Year Ended 31 March 2021 14 Analysis of net assets between funds Total funds at31 March 2021 Unrestricted funds General Restricted funds Tangible fixed assets Current assets Current liabilities Creditors over l year 1,615,077 69,892 (2,6531 115,070 11,205 1,730,147 81,097 (2,653) Total net assets 1 611 033 126 275 1 737 308 Total funds at31 March 2020 Unrestrlcted funds General Restricted funds Tangible fixed assets Current assets Current liabilities Creditors over l year 1,632,103 65,761 (2,6531 118,400 14,815 1,750,503 80,576 (2,653) Total net assets 1 621 259 133 215 1 754 474 Page 18
Shoreham Baptist Church 31.03.2021 Final accounts Final ALJdil Report 2021-06-15 Created.. 2021-06-15 By.. Gary Schulz 1gary@iel.org.ukl Slalus.. Signed Transaction ID.. CBJCHBCAABMzsONftHW2ve(ELpQbgn6LIIGVqQV43rg "Shoreham Baptist Church 31.03.2021 Final accounts" History Document created by Gary Schulz 1gary@iel.org.ukl 2021-0&15- 10..58..39 AM GMT- IP address.. 90.220.139.132 P. Document emailed to Denise Edwards Idenise371 @blinternel.coml for signature 2021-06-15- 10.'59.'30 AM GMT Email viewed by Denise Edwards Idenise371 @btinlemel.wml 2021.06-15. 3..23..57 PM GMT- IP address.. 81.132.15.225 Document e-signed by Denise Edwards Idenise371 @btintemet.coml Signature Date.. 2021-06-15- 3..30..55 PM GMT- Titne Source.. setver- IP address.. 81.132.15.225 Agreement completed. 2021-06-15- 3.'30.'55 PM GMT la Adobe Slgn