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2021-09-30-accounts

Charity number: 1163291

THE WELL SHEFFIELD BAPTIST CHURCH

UNAUDITED

TRUSTEES' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2021

THE WELL SHEFFIELD BAPTIST CHURCH

CONTENTS

Page
Reference and Administrative Details of the Church, its Trustees and Advisers 1
Trustees' Report 2 - 18
Independent Examiner's Report 19
Statement of Financial Activities 20
Balance Sheet 21
Statement of Cash Flows 22
Notes to the Financial Statements 23 - 37

THE WELL SHEFFIELD BAPTIST CHURCH

REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHURCH, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 30 SEPTEMBER 2021

Trustees Rev N Allan, Minister
Mrs N L Mayer, Secretary
Mr I M Prescott (resigned 29 March 2021)
Dr S J Saunders
Dr A B Baggott
Mr S J Spendlove, Treasurer
Mrs I McKay-Smith (appointed 14 July 2021)
Ms A O Adebajo (appointed 7 October 2020)
Dr W J Daw (appointed 7 October 2020)
Charity registered
number
1163291
Principal office
603 Ecclesall Road
Sheffield
S11 8PR
Secretary
Mrs N L Mayer
Accountants
Shorts
Chartered Accountants
Cedar House
63 Napier Street
Sheffield
South Yorkshire
S11 8HA
Bankers
HSBC Bank Plc
Carmel House
49-63 Fargate
Sheffield
S1 2HD

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THE WELL SHEFFIELD BAPTIST CHURCH

TRUSTEES' REPORT FOR THE YEAR ENDED 30 SEPTEMBER 2021

The Trustees present their annual report together with the financial statements of The Well Sheffield Baptist Church (the church) for the year ended 30 September 2021. The Trustees confirm that the Annual report and financial statements of the charity comply with the current statutory requirements, the requirements of the charity's governing document and the provisions of the Statement of Recommended Practice (SORP), applicable to charities preparing their accounts.

Objectives and activities

Strategies for achieving objectives

A Senior Leadership Team (established since 2019) is drawn from permanent staff who assumed aspects of the strategic and operational oversight, under the authority of the Trustees, this included the two Senior Ministers, Director of Operations, Associate Minister, and School of Ministry leader. The volunteer Charity Trustees continued to meet approximately every 6-8 weeks.

We maintained a group of volunteer key leaders from amongst the congregation to oversee some of our principal areas including worship, Sunday services, children’s work, youth work, serving the poor and vulnerable, relating to young adults and students, media and PR, some administration.

We made minor staffing changes including transitioning one volunteer leader into a part-time Minister in Training role including oversight for students, growing our operations capacity and appointing a new person to the key role of youth worker. We ran a successful second year of internships in youth work and production / communications.

We ran several public courses (mostly online) of self-improvement and empowerment, including around issues of mental health and spirituality.

We maintained around 25, and launched a number of new ‘community’ groups across the city, including identifying and training their associated leaders both pastorally and missionally.

Despite Covid restrictions, we mobilised proportions of the congregation voluntarily to join in with specific activities, including volunteering in ministries (children, youth, outreach, worship) and supporting local charities reaching out to those in need during the covid crisis.

Grant-making policies

Grants are made to beneficiaries in furtherance of the Church's objectives. The majority of grants are made to registered charities although assistance may be given to other constituted groups and occasionally to individuals. The Trustees have referred to the guidance on public benefit issued by the Charity Commission when reviewing the Church's objectives and grant making policies.

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THE WELL SHEFFIELD BAPTIST CHURCH

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2021

Objectives and activities (continued)

Objectives and Activities

The principal purposes of the Church are set out in the constitution, as follows:

The advancement of the Christian faith according to the principles of the Baptist denomination. The Church may also advance education and carry out other charitable purposes in the United Kingdom and/or other parts of the world.

The constitution states that activities to meet these objectives may include but are not restricted to:

Main objectives for the year

In its sixth year of operation, the charity was concerned principally with continuing to establish itself as a church community in its premises on Ecclesall Road, and a new church plant in Woodseats, Sheffield, and to weather the impact of COVID19.

• Regular public worship (involving music, prayer, preaching and teaching from the Bible, children’s groups and a welcoming, hospitality to new visitors).

areas.

• Serving Sheffield through engaging with a variety of local communities, individuals, groups and bodies and pioneer by establishing new ministries to serve the local neighbourhood and the young and the poor of the city.

• Maintain financial sustainability through a solid donor-base, and begin to save funds toward potential future premises redevelopment or church planting/expansion.

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THE WELL SHEFFIELD BAPTIST CHURCH

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2021

Objectives and activities (continued)

Statement of Public Benefit

The Trustees confirm that they have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the Church's aims and objectives and in planning future activities. The Trustees are also aware of the Charity Commission's guidance on public benefit in The Advancement of Religion for the Public Benefit and have had regard to it in their administration of the Church. The Church provides the following activities for the benefit of the general public:

The Trustees confirm that they have complied with and paid due regard to their duties under section 17 of the 2011 Charities Act with regard to public benefit in planning and managing their activities during the year.

Achievements and performance

Review of activities

Introduction

This is the sixth annual report of the church and charity of The Well Sheffield Baptist Church. This review of the activities and progress is heavily influenced by the COVID-19 pandemic. We spent the first 9 months in full or limited national lockdowns, with no public gatherings of significant size permitted. Only in June 2021 did we begin small scale outdoor family events and Sunday evening gatherings again, and on 1 September 2021 morning gatherings resumed.

The church entered the covid/lockdown season as a healthy, stable faith community with deep foundations built around shared relationships and shared purpose, including that of serving the city and blessing the nations. These fundamentals meant that during the COVID-19 season of significant disruption and uncertainty the ‘vital signs’ of the church remained healthy. We give thanks for this, since it was not the same picture for many churches in the UK.

Our principal priority throughout this period was to create and enable connections. We continued to be able to respond with an excellent public online presence and our numerous points of personal connection. Our value of strong community meant we had well established ways that people felt part of the church, such as our weekly community groups ministries which went online as valuable ways to maintain cohesion during those difficult months. We produced hundreds of hours of high quality online content for adults, teens and children, and we maintained significant online engagement figures. This helped our regular folk in their faith and connection, as well as providing a route for those interested in engaging with church and faith for the first time.

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THE WELL SHEFFIELD BAPTIST CHURCH

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2021

Achievements and performance (continued)

It was a very challenging period pastorally, at a greater level than ‘usual’ due to the added pressures brought about by the covid pandemic. Numbers of our congregation were affected in their physical health, and mental health, and aspects like employment, finances and relationships. Our practice of ‘pastoral share’ was vital as people looked out for each other, and we commend our staff team for going the extra mile with many people despite social restrictions. We maintained our ‘We Care’ Compassion Fund which congregation members gave to towards the alleviation of financial hardship due to covid. We continued a process of mutual listening and understanding with black and ethnic minority members of our church community which began with the international Black Lives Matter movement.

Financial giving levels remained strong, for which we also give thanks as this was not a typical UK church experience. This meant that we could continue to plan for future growth and support our staff.

We have invested heavily in training, equipping and empowering those within The Well in the ways of god-ly life, and in how to prosper in everyday life. Transitioning to online content and occasional outdoor events necessitated certain extra expenditure, in equipment suitable for continued use in the medium-term.

In overseeing all of this, the leadership team of Trustees have consistently sought to remain faithful to our guiding aims and objectives and our founding values (www.wellsheffield.com/values).

Review of Charity’s activities

SUNDAYS:

Sunday gatherings were completely different from usual during this period. In previous years, we hosted 3 gatherings (average attendance 360) and facilitated various children’s, youth and student discipleship and friendship events, with a warm culture of welcome in our hospitable public café space to build a sense of community.

This period we spent the first 9 months in full or limited national lockdowns, with no public gatherings of significant size permitted. Only in June 2021 did we begin small scale outdoor family events and Sunday evening gatherings again, and on 1 September 2021 morning gatherings resumed. Our weekly 10am livestream service helped to facilitate personal devotion and to share the gospel and offer ways for people to connect with the wider life of the church. We developed pre-recorded content for specific groups, such as ‘Sunday Breakfast’ for our youth, and many hours of content for ‘Well Kids.’ Sunday evenings saw weekly ‘In Conversation’ zoom calls to build a sense of church family, faith and prayer.

In the run-up to Easter we held a ‘Lament Sunday’ which helped people to acknowledge their grief and pain in this troublesome period of national and personal life. In July 2021 as government restrictions were lifted we maintained our weekly live-streamed services and reintroduced an onsite Covid-secure ‘Encounter’ service for 1 hour which really helped people who had missed connecting on Sundays.

We take Safeguarding responsibility with the utmost seriousness. Our Safeguarding team continued to liaise and act during this period. We set up compulsory video training for our staff during lockdown period, as well as on-demand video training content being available. On returning to in-person events, we began a comprehensive process to ensure that all staff volunteers with children had up-to-date DBS checks and training, some of which had lapsed during 18 months of lockdown.

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THE WELL SHEFFIELD BAPTIST CHURCH

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2021

Achievements and performance (continued)

COMMUNITIES:

The Well places high value on relationships, welcoming new people, sharing the life of Christian discipleship, and hospitality. During the COVID lockdown season our groups remained crucial in maintaining cohesion and support. Whilst many met online, the groups were resourceful in finding ways to connect within the restrictions - walking together, and meeting in smaller groups that connected digitally from several locations. New joiners to the church really appreciated being quickly integrated into groups.

Over this period we had around 25 groups, with around 55 volunteer leaders. These are groups of between 6- 25 who meet several times a month in members’ homes or in The Wells Cafe (online during lock-down) for mutual support and edification, and are encouraged to fashion themselves as “an extended family with a cause beyond themselves.”

We ran group leader training for 9 people, and had 5 new groups form over the period. The Well leadership team meet regularly with group leaders to offer pastoral support and training. Groups were also supported with resources which accompanied one of our teaching series. Over the summer we transitioned groups to an online platform that allows group leaders to manage their groups online, and members to communicate with one another digitally.

PREMISES:

During lockdown we made occasional necessary improvements to our facilities. We improved our riverside garden with furniture, gas-burners and gazebos to cope with many new outdoor meetings.

In November 2020 the Trustees agreed the potential purchase of our neighboring property, 605 Ecclesall Road, from its new owners, a local property development firm. We pursued the sale rigorously for 6 weeks until Christmas. This involved numerous Trustee meetings, and much operational expertise to put in place loan finances and to arrange the necessary surveys and reports. We launched a capital giving campaign called ‘605 Alive’ inviting supporters to pledge and give cash towards the potential purchase price.

Sadly, on 20th December the potential sale failed, when the sellers pulled out. Our own due diligence process had revealed that the property asking price was too high for us to secure appropriate loans against value.

We are very grateful to all the support given during this time, from the Yorkshire Baptist Association and national Baptists Together, from our Trustees, Operations team, and our members who got behind the scheme so prayerfully and supportively. We continue to communicate with the current owners and hope that we may yet have further dealings with that property.

YOUNG ADULTS:

The church’s style, presentation and outlook appeal to many young adults. Prior to lockdown we enjoyed a thriving community of around 150 regulars (plus more young families). Many of our usual initiatives, such as training events, socials, residentials had to cease during lockdown. We had to end our 5pm Sunday Gathering, which had been specifically young adult focused and designed to raise and train volunteer teams and leaders from that age group.

It was a time for most young adults to dig into personal discipleship and spiritual disciplines. Some engaged well, others seemed to disengage with what the church was able to offer in terms of online content and connections. Those who were members of our weekly communities probably faired best during lockdown. Key to our ethos and growth over the years is the Alpha Course. Our online Alpha courses were attended by young adults new to the Christian faith or interested in exploring it. Similarly, our online training, such as ‘Naturally Supernatural’ and ‘Hearing from God’ courses were popular.

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THE WELL SHEFFIELD BAPTIST CHURCH

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2021

Achievements and performance (continued)

From July 2021 we appointed a new volunteer leader of young adults, Will Daw. Giving 1-2 days per week, he began to reform a sense of connection and momentum, and to rebuild a team of volunteer community leaders.

STUDENTS:

We give specific focus to students since Sheffield is host to 60,000 students, the majority of whom live, study and spend their leisure time within a square mile of The Well’s premises on Ecclesall Road. We believe the student generation is amongst the UK’s most Christian-unreached people group. They also benefit socially from the stability, mentoring, hospitality, and maturity which interaction and belonging within an all-age church community can offer during a potentially tumultuous period of life.

At the start of this period numbers were around 30 regulars meeting in several student communities led by adult and young-adult volunteers. By continuing to meet online we offered regular mentoring, ran outreach activities and discipleship groups. We benefited greatly from partnership and advice from the Fusion UK student mission movement.

By July 2021 many students were keen to come to church in person and numbers of those attending the reopened church services grew steadily over the summer. By the end of September 21 around 45 called The Well their church in Sheffield.

CHILDREN Under 5s and their Families:

Lockdown was particularly challenging for our children / families ministry, since face-to-face contact is so vital. Our part-time Families Outreach Worker continued in post and worked very hard at maintaining connections, mostly online, and through postal services, as well as in-person events as soon as regulations permitted. When possible, they met parents outdoors simply to offer support and encouragements.

The small team produced YouTube video content and downloadable resources to help young families at home to connect with God, and to help support our ‘MOLO’ “mums of little ones”. We produced dedicated online content suitable for families with young children at Christmas and Easter. In the summer months, we held twice-monthly outdoor worship gatherings for 0-11s which were always fully booked and very well received by families desperate to interact with others in similar positions.

We ran a number of family-friendly outreach and fun events during lockdown including an outdoor treasure hunt, Christmas outdoor nativity trail, and an outdoor Easter trail.

Our popular Baby Droplets mid-week group for mums with new babies ran at The Well in Autumn 2020 and moved to Zoom in Spring 2021 when the schools were closed too, morphing to a Walk and Support group from March 2021 as government guidance allowed. Little Droplets mid-week toddler group also met in a local park during the summer months and was instantly popular.

Sunday in-person Children’s groups activity was not able to resume until September 2021 and grew steadily that month as young families slowly began to feel confident to return to public premises. Children’s groups relaunched, and new families joined us who had connected online as well as the outdoor worship and outreach opportunities.

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THE WELL SHEFFIELD BAPTIST CHURCH

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2021

Achievements and performance (continued)

CHILDREN 5-11s:

During lockdown the children’s team transitioned to regular online content, known as ‘Well Kids.’ This was a new experience for them and they coped admirably. We produced printed resources and regular videos of discipleship, worship songs and fun ‘Thought for the Week’ mini reflection videos, and online sessions for families to engage in together. The volunteer team did amazingly well to transition their skills to fit these difficult circumstances. We enjoyed an online Pancake Party and Zoom Prayer & Praise sessions during the two Furnace Prayer weeks.

By summer 2021 we began well attended in-person gatherings (see above). By September 2021 our Sunday age-appropriate groups resumed, offered for children of primary school age and are served by a team of passionate volunteers (all DBS checked) who follow plans written according to Well values. They aim to create an environment of fun, friendship, spirituality, strong Biblical foundations within an expectation of Christian discipleship. Numbers grew throughout September into the mid-20s average by the end of this period.

YOUTH 11-18s:

We recognise 11-18s is a potentially big area for growth and service to our local area. In mid-2021 we appointed a new, highly trained Youth Worker to continue the excellent foundations set by our previous Worker. Along with a passionate volunteer team they maintained connections and discipleship groups with our youth during lockdown. The team transitioned to online content and were able to continue to meet over zoom calls both for social fun and discipleship. As soon as regulations permitted, they met in-person for discipleship as well as for occasional social events.

Attendance more than doubled during 2021, to around 30-40 youth by the end of the period and a volunteer team of 10.

We held our first youth summer camp, near Yapton, Sussex, joining with a friendly local church. About 30 young people had a great time worshiping and exploring the bible together, as well as having lots fun doing the activities. We saw the young people encounter God and begin to step into who they are called and created to be.

CHRISTIAN DISCIPLESHIP AND TRAINING:

Our constitution states that an important pathway to achieving our charitable objectives is the “nurture and growth of Christian disciples”; “education and training for Christian and community service”; and “giving and encouraging pastoral care”. This year we invested significant energy into maintaining a great culture within our faith community, and in training and empowering many people in the Christian life, and fullness of life in general. We set up and ran a range of training courses both for existing attendees and for the local unchurched. Most of these were delivered online during the height of lockdown.

These included: The Alpha Course x2, Community Leader Training (several), Bible Basics, Marriage Preparation classes, Kintsugi Hope mental health/wellbeing, Naturally Supernatural, new joiners ‘get to know you events’, Father Heart theology weekend.

To support personal development, we launched a popular mentoring programme for young adults, by training various older aged mentees. We maintained our ‘Turnaround Team’ led by experienced business leaders and professionals from within our church who have kindly offered to give their time to help provide advice and insight into people’s employment/business situations.

As a Baptist church we regularly support people within our congregation in discerning a call to vocational ministry, and dedicated training in church leadership. In this period, we commended 2 people to become new Baptist Ministers in Training. They began training and ministering in September 2021, so that we now have 3 MITs at The Well Sheffield.

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THE WELL SHEFFIELD BAPTIST CHURCH

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2021

Achievements and performance (continued)

Deeper School of Ministry:

For the fifth year we ran ‘Deeper’ our 9-month Christian Discipleship & Mission School (www.deeper.training). A part-time member of staff led this school, alongside 2 volunteer team members and 7 participants, including those joining from outside of Sheffield. Despite the challenging circumstances of Covid, we hosted the school both in-person when restrictions allowed and online during the toughest restrictions. We were able to host speakers online from all over the world, alongside local ones. We served our local streets and each participant's local areas in both outreach and prayers in each season of the year and restrictions offering God’s love, prayer and at times cards, cakes and plants. We ran approximtely 73 hours of online content of teaching, discussions, and prayer room. We also hosted 3 online courses used by the wider church and beyond, reaching all over the UK with up to 100 participants of over 30 hours of pre-recorded and live teaching and interactive sessions.

EVANGELISM & OUTREACH:

This was more challenging due to 9 months of lockdown during this period. However, some people still came to faith and joined the church through engaging with our online content or zooms. We regularly took people onto our local streets to seek to reach out to people in kindness and to help connect them to God. Our church plant The Well at Woodseats also began to reach their local neighbourhood. Youth and children/families activities also included outreach elements.

SERVING THE POOR & VULNERABLE AND GENEROSITY:

One of our key values is to find ways to love and serve the poor and vulnerable around us. We don’t believe in starting things just for the sake of it, and try to join in with existing initiatives where possible.

Throughout the lockdown period we heavily promoted the work S6 Foodbank (sheffields6.foodbank.org.uk) which we have supported for 6 years and acted as a permanent supplies donation point. We encouraged financial gifts as a practical response and a number of our congregation served as local volunteers.

Our Compassion Sunday at Harvest in October 2020 took an offering of food and toiletries to donate to the S6 Foodbank, or make a financial offering directly to the S6 Foodbank.

FINANCIAL GENEROSITY

The Well aims to be generous to other causes and gives away approximately 10% of our annual budget, in line with our charity objectives. In this period we gave to a mix of Baptist projects in support of our denomination, one-off offerings to immediate causes, and to a discretionary fund. We also continued a sub-committee called ‘Well Beyond’ to research and recommend to the Trustees outlets for our financial generosity, and to strengthen our ties with kingdom and/or development initiatives beyond ourselves and our city. The Trustees then present their decisions to the Church Family Meetings. In response to the COVID-19 pandemic we established the “We Care” compassion fund to support church family members who are experiencing financial hardship as a result of the pandemic. The fund exists to receive financial donations that can be redistributed as necessary by the Trustees and Senior Leadership team to those who regularly worship with us who find themselves in particular need during this season.

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THE WELL SHEFFIELD BAPTIST CHURCH

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2021

Achievements and performance (continued)

Here is a summary of our financial generosity during this period, in line with our charity purposes:

WELL BEYOND FUND FOR
GIFTS TO UK BAPTIST CAUSES £ MISSION £
Baptist Home Mission 14,000 Family Works 750
BMS World Mission 2,400 Golddigger Trust 700
Grow 1,000
GIFTS TO UK CHURCHES /
ORGANISATIONS Hope for Kids International 750
Together for Sheffield (Arise) 500 Justice Rising 1,000
Kenno & Jana Leier 999
SPECIFIC OFFERINGS FOR CAUSES Jhonnar Lugo 1,200
Christmas 2020-Christians Against Poverty 500 Medair 800
Christmas 2020-Tearfund 500 Open Doors 1,200
Promised Land 200
We Care Compassion Fund 1,038 S6 Foodbank 1,080
Iris Missionary Asia 1,440
DISCRETIONARY GIFTS 1,010 Snowdrop Project 1,000
Smile Uganda 1,000
Sunergos Project 1,200
Taste 1,000
Tearfund Mali 1,000
YADA 2,000

The sum of all our external giving is £38,267.30, which amounts to 7.5% of our actual income and approximately 7.9% of our annual operating donation income (including Gift Aid) for the year.

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THE WELL SHEFFIELD BAPTIST CHURCH

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2021

WORSHIP & COMMUNITY LIFE OF THE CHURCH:

As well as Sundays and online, we held regular events and opportunities for people to worship in a variety of ways. We held a Furnace weeks of 24/7 prayer. We continued to produce daily ‘wake up well’ bible devotionals online with a regular following.

We worked very hard to maintain our sense of community life before and during lockdown. We hosted several weddings, while other young adults in the congregation were married elsewhere during this period. We shared communion on Sundays, and celebrated festivals – Christmas, Easter, Mother’s Day, Father’s Day, Pentecost, Remembrance Day, and ran a livestream virtual Passover meal (Easter 21). We introduced a powerful Lament Sunday around Easter time too, to help people to process the pandemic.

It was great to welcome scores of people back to our premises for the 6th birthday garden party and worship celebration, in September 2021.

INTERACTING WITH LOCAL, NATIONAL & INTERNATIONAL CHURCH:

We continue to interact with existing local churches in order to build relationships and seek ways to collaborate. This includes organising and attending local pastors’ lunches and our Senior Ministers frequently attending city-wide church leader prayer/catch-up events.

We hugely appreciated our accountability and partnership with our regional and national Baptist family (pastorally, relationally, financially, and missionally). This includes membership and frequent interaction with the Yorkshire Baptist Association. During this period we were not able to welcome our usual mix of visiting speakers. However, we sent delegations to a number of online national forums, particularly focused on millennials and students in church, including through the Evangelical Alliance.

Our Ministers Marjorie and Nick Allan were recorded speakers at the national Fresh Streams conference in January 2020. We hosted an online conference in church planting called ‘Exponential’ with participants in the north of England in October 2020.

COMMUNICATIONS & MEDIA

Within the Communications & Media Team we launched several new solutions. Outward communications: We launched 3 new websites at The Well in this period. By producing all of these websites in house we saved around £10,000 of design costs.

wellsheffield.com

We’ve completed a comprehensive re-design of wellsheffield.com, now the third-generation website since the inception of the church in 2015. The site has been restructured to find content more easily, crafted with the unchurched in mind and designed to create an accurate digital reflection of The Well. The website is constantly evolving and growing and will not sit still. We look forward to introducing new elements. We saw over 58,000 page views over the time period.

wellwoodseats.com

To assist with The Well at Woodseats church plant we created a new website to help tell the story of these pioneers and the vision for Woodseats. This included utilising our new camera equipment to capture community life and elements of the locality. We also had design support from student Dan T. with the branding.

deeper.school

Deeper now has its own designated website to help reflect the opportunity here. This platform again is built with growth in mind and lays the foundations for future infrastructure to be built upon.

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THE WELL SHEFFIELD BAPTIST CHURCH

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2021

Social Media:

Facebook

We saw a page reach of 37,000 during the period October 2020 to September 2021. This is a decline of 18.5% but still more than 100% higher than pre-pandemic highs in 2019. Considering the onset of digital fatigue and acceleration of people abandoning Facebook these statistics show new people reached and an expected levelling off. The Facebook followers grew by 114 during this period. While it continues to be the most dominant social network we will continue to utilise this format.

Instagram

We saw continued growth of The Well’s reach here of over 20% to 6,590. Still lower than Facebook, but encouraging to see the impact. We also saw a far higher conversion rate with over 4,000 profile visits and 137 new followers.

Our Facebook and Instagram saw several high engagement pieces with over 1,000 views of 16 pieces of content including the online ‘Carols By Candlelight’ and high student engagement across specific targeted content. It is interesting to note that 62% of our followers are female, which bucks the trend of social media users (56% male).

TikTok

We made a soft launch into TikTok. Why? Short form video is the immediate future of social media and dipping our toes here is important. We do not currently have sufficient resources to utilise this platform effectively and have so far used re-purposed content for this format. Given that more video is consumed on TikTok than YouTube it could form a core part of The Well’s social media strategy in the years to come. We collected over 1,000 views from 6 videos shared, with only 17 followers. This shows the potential for digital evangelism here.

YouTube

We saw 50,000 views on The Well’s YouTube despite having returned for in person gatherings throughout this time period. We also gained 171 subscribers, which is a key metric and something we’re keen to grow to help the reach of the content so people have another way to access teaching and worship. Our impressions grew to 510,000 and we saw a 4% increase in click throughs.

Internal communications

Clothing store - thewell.teemill.com

We engaged a print on demand service (who use renewable energy, made in the UK from sustainable sources). This allowed for multiple design options to be added. Now this has been established we hope to add new designs in the new year. Why? It gives people an opportunity to wear clothing that could start a conversation that could be the first step toward discipleship.

Church Center: We maximised our transition from Church Suite to Planning Center by utilising the Church Center app as a core way to communicate with The Well members.

Hybrid church: We offered hybrid church by live-streaming 7pm Gatherings on a Sunday and we’ll be exploring new ways we can engage people digitally in the new year.

Design: We produced multiple print solutions including posters, banners, flyers, t-shirts, flags and booklets such as the student fresher guide.

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THE WELL SHEFFIELD BAPTIST CHURCH

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2021

ACHIEVEMENTS AND PERFORMANCE:

The Church does not measure the success of its programs only in numbers, including financial numbers, but also in areas of wellbeing like fellowship and encouragement. The Trustees recognise that these are more intangible, but we believe that 2020-21 was a fruitful year for the life of our community, despite challenging circumstances. In addition to our reviews and activities already mentioned, we can point to:

VOLUNTEERS:

We encourage a culture of volunteering in all areas of our work. The vast majority of our activities involve considerable input of time and energy by Church members, on a voluntary basis. On an average (non-covid) year we calculate that Church Members collectively volunteer around 10,000 hours per year; this is the equivalent of 5.5 full-time employees. No financial value of volunteers' time has been included in the financial statements.

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THE WELL SHEFFIELD BAPTIST CHURCH

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2021

Financial review

Introduction

The accounts are prepared in accordance with the current statutory requirements, the requirements of the charity's governing document and the provisions of the Statement of Recommended Practice (SORP), applicable to charities preparing their accounts in accordance with the Financial Reporting Standard for Smaller Entities FRS 102 (as amended in February 2016), as well as the Charities Act 2011.

Total operating expenditure for the financial year came to £472,157 (£416,712 in 2020). This included (for example):

Net income for the period after depreciation charges was £34,471 (£88,503 in 2020).

In recognition of the on-going likelihood of premises development and maintenance, and the commitment to maintain a financial reserves position, the Trustees judged it appropriate to retain this surplus into the following financial year, rather than expend the majority of it towards our “charitable objectives.”

The Charity (church) continues to raise most of its funds necessary to carry out its operating activities from within its own membership and congregation. No wider public appeal was made for funds during the year. We received small grants this year from the Yorkshire Baptist Association to help towards the costs of our Minister in Training.

The number of church family members choosing to give voluntarily by monthly bank commitment increased throughout the year. As a result, we now have a significant number of church family members committed to giving this way, which provides stability and confidence for forward financial planning. There has been a steady growth of monthly bank commitments during this financial year together with a corresponding increase in the associated Gift Aid. The church continued to welcome new, regular attenders and members who, in turn, have made a financial commitment to give each month. Despite the impacts of the pandemic and lockdown, regular giving maintained relatively constant throughout the year, which, alongside lower than expected expenditure due to lockdown changes, resulted in an income over expenditure excess of £34,471. We continue to promote the use of Gift Aid across the church family, including ensuring the additional income and significant benefits this generates is reported. We submit Gift Aid claims on a monthly basis. We would like to record our ongoing gratitude to everyone who contributed during the year.

Use of gifts towards purchase of 605 Ecclesall Road

In response to a significant appeal to church family members to support funding of the purchase of an adjoining building to our main premises, approximately £44,000 was received. Ultimately, the church’s senior leadership team and Trustees decided against purchasing the building. Donors were given the opportunity for their gifts to be returned, a number of people willingly left their gifts with us resulting in approximately £24,000 of donations being absorbed into general accounts.

As set out earlier in this report, during this financial year our paid staff time increased slightly, which has increased our capacity and has set us up well to expand during 2020-21. Whilst the overall pay bill increased, we are meeting our objective to keep staff overheads at a reasonable percentage of overall expenditure.

Page 14

THE WELL SHEFFIELD BAPTIST CHURCH

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2021

The impacts of the COVID-19 pandemic meant we were grateful to be able to continue to take advantage of the Government’s Coronavirus Job Retention Scheme into the 2020 to 2021 financial year, ensuring financial security to a number of staff members whilst their roles were paused during the lockdown period, without this having a negative financial impact on the church. This amounted to a total of just over £2,200 received between February and May 2021.

The church continues to be heavily dependent on church family members volunteering in all aspects of the church’s activities, many of which run with little or no impact on the church’s expenditure. This contributes substantially to the achievement of the church’s objectives and the leadership and Trustees are continually grateful for their ongoing support.

Building and technology development

The significant building and redevelopment work was completed in September 2019. Since then, the church continues to invest in maintenance and improvement projects including essential electrical works and upgrades to internal IT networking systems. In addition, we have continued to invest in broadcasting equipment to underpin the increasing range of livestreamed and on-line content.

Going concern

After making appropriate enquiries, the Trustees 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.

Reserves policy

Since Sept 2018 the Trustees have maintained a figure of £80,000 in case of unforeseen fluctuations in income or expenditure and to meet Charity Commission guidelines. This policy is reviewed annually as part of our ongoing governance review to ensure that level is still appropriate.

Setting an annual budget

The Trustees plan a detailed annual budget which, once agreed, is presented to the church family for adoption. The focus is to continually meet our charitable objectives and to be an outward-looking church and charity, particularly focused on mission both to the local and Sheffield communities, as well as UK and international opportunities to serve and to give financially.

Depreciation

An explanation is covered in the notes to the accounts.

Principal Funding

All debtors are considered good for the full amount owing; all obligations have been and will continue to be met as they fall due.

Page 15

THE WELL SHEFFIELD BAPTIST CHURCH

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2021

Structure, governance and management

Constitution

The church is called The Well Sheffield Baptist Church. It is a Charitable Incorporated Organisation (CIO) registered with the Charity Commission on 25 August 2015 and its governance is laid out in its CIO constitution document. The date of adoption of the CIO’s constitution was 2 July 2015. A minor amendment was passed by a Special Church Meeting on 25 September 2019 and subsequently lodged with the Charity Commission.

Methods of appointment or election of Trustees

The constitution was amended on 7 October 2020 to allow for up to 8 Baptist Members to be appointed as Charity Trustees (previously 6), in addition to the Minister(s). Members felt this was appropriate in response to the overall growth of the church and organisation. Each such appointment requires approval by a majority of Church members. The Trustees meet regularly to discuss and plan objectives and the implementation of them.

During this period Ian Prescott resigned as a trustee with our very grateful thanks in recognition of five years of service. Three new Trustees were appointed during this period at two Church Meetings following a secret online ballot.

New trustees undergo orientation to brief them on their roles and responsibilities, their legal obligations under charity and company law, the content of the CIO constitution, the decision making process and the recent financial performance of the charity.

Trustees are encouraged to access training relating to their roles and responsibilities.

The trustees who served during the year were as follows:

Rev N Allan Mrs N L Mayer Mr I M Prescott (resigned 29 March 2021) Dr S J Saunders Dr A B Baggott Mr S J Spendlove Mrs I McKay-Smith (appointed 14 July 2021) Ms A O Adebajo (appointed 7 October 2020) Dr W J Daw (appointed 7 October 2020)

The board give thanks to all trustees for their support during the year.

Organisational structure and decision-making policies

Members of the Charity/Church are accepted in accordance with the Constitution and at the discretion of the Charity Trustees. During the period of this report Baptist membership numbers grew from 105 to 127. Members are required to have professed faith in Jesus Christ, and are expected to take an active role in the responsibilities and life of the Church. The Church Members’ Meeting, known in-house as the ‘Church Family Meeting’ (CFM), normally takes place several times per year.

In accordance with the Constitution, the Members appoint up to eight unpaid Trustees including Church Secretary and Treasurer, who together with the Minister(s), are responsible for the overall policy and day-to-day running of the church’s work and witness, the financial and legal aspects of the charity. Relevant matters may be submitted to the Church meeting by the Trustees for guidance, or may be raised by Members for further consideration by the Trustees. All Members are encouraged to take an appropriate part in the spiritual and practical tasks involved in the furtherance of the charitable objectives.

Page 16

THE WELL SHEFFIELD BAPTIST CHURCH

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2021

Structure, governance and management (continued)

The consultation of Church Members and the involvement of Members in decision-making is an important principle within a Baptist Church. Members are encouraged to listen carefully to each other, express views that will aid decision-making, before reaching a decision. Though the Constitution permits decisions to be made at Trustees’ meetings and significant decisions at ‘Church Family Meetings’ (CFMs) by appropriate majorities, in practice the Well’s leadership seeks to work by consensus wherever possible. Our regular CFMs are open to anybody who actively considers The Well their church. Only on the occasions when issues are required to be decided by vote do the charity/Church members have sole rights in decision-making.

By the end of this period, the number of paid staff members was 14 (9.9 FTE up from 9.4). Day-to-day leadership matters are determined and managed by the two Senior Ministers (one of whom is a Trustee) and a Senior Leadership Team of 3 others during this period, under delegated authority from the Trustees. A number of the congregation volunteered time to administration, but were not directly involved in decision-making.

RISK MANAGEMENT

Under the Statement of Recommended Practice (SORP) 2015 regulations it is recommended that Trustees complete an ongoing Risk Management review. The Trustees have undertaken this review during the year to identify and manage the principal risks that may deter The Well Sheffield Baptist Church from achieving its main objectives.

These are managed as follows:

The Well operates a comprehensive Safeguarding policy for children and vulnerable adults. Due to covid disruptions Trustees were kept informed that our policies were reviewed and had minor updates in December 2020. It is our usual practice to fully review both children and vulnerable adults policies annually, and a full review is expected during the 2021-22 year. During this period our Safeguarding Officer was Mr Joel McKaySmith, assisted by the Minister, and a nominated safeguarding Trustee, as well as informal advice from the previous Officer, also a member of the church.

The trustees have reviewed areas of risk during this year. We continue to monitor our GDPR compliance. Mr Nicholas Allan is our Data Controller. Other existing policies and supporting procedures were reviewed and maintained, including finance and a risk register, around the following: Fire, Asbestos, electrics/gas, lone working, accidents/first aid, working at heights, manual handling, welfare, terrorism/security, display screen equipment, garden, pandemics & flu.

The Well ensure that matters identified as potentials risk are discussed, reviewed and mitigating action to reduce or eliminate risk is implemented.

Page 17

THE WELL SHEFFIELD BAPTIST CHURCH

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2021

Structure, governance and management (continued)

Statement of Trustees' responsibilities

The Trustees are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England & Wales 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 Church and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Church's transactions and disclose with reasonable accuracy at any time the financial position of the Church and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the Trust deed. They are also responsible for safeguarding the assets of the Church and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Approved by order of the members of the board of Trustees on _______ and signed on their behalf by:

Rev N Allan, Minister

Page 18

THE WELL SHEFFIELD BAPTIST CHURCH

INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 30 SEPTEMBER 2021

Independent Examiner's Report to the Trustees of The Well Sheffield Baptist Church ('the Church')

I report to the charity Trustees on my examination of the accounts of the Church for the year ended 30 September 2021.

Responsibilities and Basis of Report

As the Trustees of the Church you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the 2011 Act').

I report in respect of my examination of the Church's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent Examiner's Statement

Since the Church's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of The Institute of Chartered Accountants of England and Wales, which is one of the listed bodies.

Your attention is drawn to the fact that the Church has prepared the accounts 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) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has been withdrawn.

I understand that this has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

  1. accounting records were not kept in respect of the Church as required by section 130 of the 2011 Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the applicable 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.

I 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.

Signed:

Dated:

HK Freeman FCA

Chartered Accountant

Shorts, Cedar House, 63 Napier Street, Sheffield, South Yorkshire S11 8HA

Page 19

THE WELL SHEFFIELD BAPTIST CHURCH

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 SEPTEMBER 2021

Note
Income from:
Donations and legacies
3
Charitable activities
4
Investments
5
Total income
Expenditure on:
Charitable activities
6
Total expenditure
Net income/(expenditure)
Transfers between funds
14
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Net movement in funds
Total funds carried forward		 Unrestricted
funds
2021
£
488,249
18,358
21
506,628
437,651
437,651
68,977
(11,275)
57,702
767,340
57,702
825,042		 Restricted
funds
2021
£
-
-
-
-
34,506
34,506
(34,506)
11,275
(23,231)
341,009
(23,231)
317,778		 Total
funds
2021
£
488,249
18,358
21
506,628
472,157
472,157
34,471
-
34,471
1,108,349
34,471
1,142,820		 Total
funds
2020
£
474,014
30,957
244
505,215
416,712
416,712
88,503
-
88,503
1,019,846
88,503
1,108,349

The Statement of Financial Activities includes all gains and losses recognised in the year.

The notes on pages 23 to 37 form part of these financial statements.

Page 20

THE WELL SHEFFIELD BAPTIST CHURCH

BALANCE SHEET AS AT 30 SEPTEMBER 2021

2021
Note
£
Fixed assets
Tangible assets
10
1,258,325
Current assets
Debtors
11
16,915
11,042
Cash at bank and in hand
18
211,181
213,662
228,096
224,704
Creditors: amounts falling due within one
year
12
(53,721)
(56,543)
Net current assets
174,375
Total assets less current liabilities
1,432,700
Creditors: amounts falling due after more
than one year
13
(289,880)
Total net assets
1,142,820
Charity funds
Restricted funds
14
317,778
Unrestricted funds
14
825,042
Total funds
1,142,820
The
financial
statements
were
approved
and
authorised
for
issue
by
the
_______and signed on their behalf by:		 2020
£
1,269,022
168,161
1,437,183
(328,834)
1,108,349
341,009
767,340
1,108,349
Trustees
on

Rev N Allan, Minister

The notes on pages 23 to 37 form part of these financial statements.

Page 21

THE WELL SHEFFIELD BAPTIST CHURCH

STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 30 SEPTEMBER 2021

Cash flows from operating activities
Net cash generated from operating activities
Cash flows from investing activities
Dividends, interests and rents from investments
Proceeds from sale of tangible fixed assets
Purchase of tangible fixed assets
Net cash used in investing activities
Cash flows from financing activities
Repayments of borrowing
Net cash used in financing activities
Change in cash and cash equivalents in the year
Cash and cash equivalents at the beginning of the year
Cash and cash equivalents at the end of the year
The notes on pages 23 to 37 form part of these financial statements		 2021
£
70,453
21
-
(34,614)
(34,593)
(38,341)
(38,341)
(2,481)
213,662
211,181		 2020
£
70,714
244
599
(101,119)
(100,276)
(37,004)
(37,004)
(66,566)
280,228
213,662

Page 22

THE WELL SHEFFIELD BAPTIST CHURCH

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2021

1. Accounting policies

1.1 Basis of preparation of financial statements

The financial statements have been prepared to give a 'true and fair' view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair' view. This departure has involved following the Charities SORP (FRS 102) published in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.

The financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant notes to these accounts. The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014 and Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and Charities Act 2011.

The Well Sheffield Baptist Church meets the definition of a public benefit entity under FRS 102.

1.2 Income

All income is recognised once the Church has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.

Donated services or facilities are recongnised when the church has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use of the church of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 102), the general volunteer time of the Friends is not recognised - please refer to the Trustees' report for more information about their contribution.

On receipt, donated professional services and facilities are recognised on the basis of the value of the gift to the Church which is the amount it would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.

Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.

Other income is recognised in the period in which it is receivable and to the extent the goods have been provided or on completion of the service.

Page 23

THE WELL SHEFFIELD BAPTIST CHURCH

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2021

1. Accounting policies (continued)

1.3 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.

Governance costs are those incurred in connection with administration of the church and compliance with constitutional and statutory requirements.

Charitable activities and Governance costs are costs incurred on the church's operations, including support costs and costs relating to the governance of the church appointed to charitable activities.

All expenditure is inclusive of irrecoverable VAT.

1.4 Tangible fixed assets and depreciation

Tangible fixed assets are carried at cost net of depreciation and any provision for impairment.

Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value.

It is provided over their expected useful lives on the following bases:

Freehold property - 2% - straight line
Fixtures and fittings - 20% - straight line
Computer equipment - 20% - straight line
Other fixed assets - 20% - straight line

1.5 Financial instruments

The Church only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at amortised cost using the effective interest method. Those which are payable or receivable within one year, typically trade payables or receivables, are measured at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Page 24

THE WELL SHEFFIELD BAPTIST CHURCH

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2021

1. Accounting policies (continued)

1.6 Pensions

The Church operates a defined contribution pension scheme for it's employees. A defined contribution plan is a pension plan under which the Church pays fixed contributions into a separate entity. Once the contributions have been paid the Church has no further payment obligations.

The contributions are recognised as an expense in the Statement of Income and Retained Earnings when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Church in independently administered funds.

1.7 Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Church and which have not been designated for other purposes.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Church for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.

2. Critical accounting estimates and areas of judgement

Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Critical accounting estimates and assumptions:

The Church makes estimates and assumptions concerning the future. The resulting accounting estimates and assumptions will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are discussed below.

Depreciation

Depreciation has been charged on fixed assets based on the useful economic life of those assets.

Page 25

THE WELL SHEFFIELD BAPTIST CHURCH

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2021

3. Income from donations and legacies

Unrestricted
funds
2021
£
Donations
Donations and Gifts
414,222
Gift Aid
69,267
Grants for Minister in Training and Family
Worker
-
Open Plate Offerings
923
One Off Gifts
-
Building Fund
-
Good to Grow
-
Grant Income
3,837
Total 2021
488,249
Total 2020
465,043		 Restricted
funds
2021
£
-
-
-
-
-
-
-
-
-
8,971		 Total
funds
2021
£
414,222
69,267
-
923
-
-
-
3,837
488,249
474,014		 Total
funds
2020
£
374,967
69,814
1,231
10,713
50
240
7,500
9,499
474,014

4. Income from charitable activities

Unrestricted
funds
2021
£
Conferences
-
Courses
7,850
Rent
10,508
Droplets & MOLO
-
18,358
Total 2020
30,957		 Total
funds
2021
£
-
7,850
10,508
-
18,358
30,957		 Total
funds
2020
£
942
21,714
7,565
736
30,957

Page 26

THE WELL SHEFFIELD BAPTIST CHURCH

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2021

5. Income from Investments

Unrestricted Total Total
funds funds funds
2021 2021 2020
£ £ £
Bank Interest 21 21 244

6. Analysis of expenditure on charitable activities

Summary by fund type

Unrestricted
funds
2021
Restricted
funds
2021
£
£
External giving
37,419
-
Administrative expenses
400,232
34,506
Total 2021
437,651
34,506
Total 2020
386,933
29,779
Unrestricted
funds
2021
£
External giving
YBA & Home Mission Fund
14,000
Baptist Missionary Society
2,400
Generosity fund
500
External giving well beyond
18,470
Discretionary fund
1,010
Other giving
1,039
37,419
Total 2020
38,516		 Total
funds
2021
£
37,419
434,738
472,157
416,712
Total
funds
2021
£
14,000
2,400
500
18,470
1,010
1,039
37,419
38,516		 Total
funds
2020
£
38,516
378,196
416,712
Total
funds
2020
£
14,072
4,000
5,000
13,590
1,854
-
38,516

Page 27

THE WELL SHEFFIELD BAPTIST CHURCH

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2021

Unrestricted
funds
2021
£
Administrative expenses
Staff costs
276,308
Repairs and building maintenance
7,480
Loan interest
-
Utilities
14,333
Communications and promotions
3,220
Hospitality
4,607
Various items for ministry
5,810
Honorariums and gifts
2,509
Professional fees
18,343
Software and licences
4,840
Insurance
4,477
Training and professional development
3,004
Travel and subsistence
790
Church resources - books and videos
322
Printing, postage & office supplies
3,243
Festivals and parties
10,744
Telephones and internet
7,277
Bank charges
1,096
Bad debts
-
Services and outreach ministry
533
Visiting speaker travel and subsistence
-
Depreciation
31,296
YAD Event costs
-
Loss on disposal of fixed assets
-
Total 2021
400,232
Total 2020
348,417		 Restricted
funds
2021
£
-
6,843
10,058
-
173
98
817
100
480
-
-
1,650
-
-
274
-
-
-
-
-
-
14,013
-
-
34,506
29,779		 Total
funds
2021
£
276,308
14,323
10,058
14,333
3,393
4,705
6,627
2,609
18,823
4,840
4,477
4,654
790
322
3,517
10,744
7,277
1,096
-
533
-
45,309
-
-
434,738
378,196		 Total
funds
2020
£
236,894
10,288
11,398
12,708
7,297
3,126
4,771
4,713
17,538
3,566
1,460
197
1,307
949
3,322
2,473
1,790
1,374
726
533
616
45,461
5,550
139
378,196

Page 28

THE WELL SHEFFIELD BAPTIST CHURCH

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2021

7. Independent Examiner's remuneration

The Independent Examiner's remuneration amounts to an Independent Examination fee of £2,760 (2020: £2,700), and other services of £14,440 (2020: £13,303).

8. Staff costs

Wages and salaries
Social security costs
Contribution to defined contribution pension schemes		 2021
£
253,754
15,275
7,279
276,308		 2020
£
219,479
11,428
5,987
236,894

The average number of persons employed by the Church during the year was as follows:

Employees
The average headcount expressed as full-time equivalents was:
Employees		 2021
No.
13
2021
No.
9.9		 2020
No.
13
2020
No.
9.4

No employee received remuneration amounting to more than £60,000 in either year.

9. Trustees' remuneration and expenses

As authorised by the governing document of the Church, N Allan, Trustee, received remuneration totalling £49,069 (2020: £44,499) in respect of his services as minister of the church. This includes employer pension contributions totalling £4,790 (2020: £2,119). He received no remuneration in his role as trustee.

Page 29

THE WELL SHEFFIELD BAPTIST CHURCH

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2021

10. Tangible fixed assets

Cost
At 1 October 2020
Additions
At 30 September 2021
Depreciation
At 1 October 2020
Charge for the year
At 30 September 2021
Net book value
At 30 September 2021
At 30 September 2020		 Freehold
property
£
1,262,752
15,679
1,278,431
48,733
25,478
74,211
1,204,220
1,214,019		 Fixtures and
fittings
£
25,613
3,014
28,627
6,840
5,228
12,068
16,559
18,773		 Computer
equipment
£
8,627
1,629
10,256
4,474
1,613
6,087
4,169
4,153		 Other fixed
assets
£
78,358
14,292
92,650
46,281
12,992
59,273
33,377
32,077		 Total
£
1,375,350
34,614
1,409,964
106,328
45,311
151,639
1,258,325
1,269,022

Page 30

THE WELL SHEFFIELD BAPTIST CHURCH

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2021

11. Debtors

Due within one year
Trade debtors
Other debtors
Prepayments and accrued income		 2021
£
9,874
1,920
5,121
16,915		 2020
£
6,328
-
4,714
11,042

Trade debtors includes amounts due from HMRC for Gift Aid claims.

12. Creditors: Amounts falling due within one year

Loans
Trade creditors
Other taxation and social security
Pension payable
Other creditors
Accruals and deferred income		 2021
£
38,573
2,160
6,327
551
2,326
3,784
53,721		 2020
£
37,960
4,101
7,574
290
-
6,618
56,543

Page 31

THE WELL SHEFFIELD BAPTIST CHURCH

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2021

13. Creditors: Amounts falling due after more than one year

2021 2020
£ £
Loans 289,880 328,834

The aggregate amount of liabilities payable or repayable wholly or in part more than five years after the reporting date is:

2021 2020
£ £
Repayable by instalments 123,438 166,716

Made up as follows:

Yorkshire
Baptist
Association		 Baptist
Union		 Baptist
Building
Fund		 Total
2021		 Total
2020
£ £ £ £ £
Loans<1 yr 14,564 15,009 9,000 38,573 37,960
Loans 2-5 years 64,849 65,593 36,000 166,442 162,118
Loans>5 years 58,132 45,806 19,500 123,438 166,716
Total 137,545 126,408 64,500 328,453 366,794
Total 2020 152,381 140,913 73,500 366,794

The amounts set out in the table above represent repayments of capital only, with interest arising each year charged directly to expenditure.

£200,000 from the Yorkshire Baptist Association over a 15-year term at a rate of 0.5% below that of the published rate of the Baptist Union of Great Britain Loan Fund (3.6% variable pa. with a minimum rate of 3% and a maximum cap of 9%) and a commitment to donate to the YBA Home Mission Fund.

£200,000 from the Baptist Union over a 15-year term at a variable interest rate, currently 3.5% pa.

£100,000 from the Baptist Building Fund repayable over 10 years by 20 x 6 monthly installments of £5,000 with the first payment due in January 2018. At the completion of the repayment a £10,000 offering is to be made to the fund as a condition of the loan.

Page 32

THE WELL SHEFFIELD BAPTIST CHURCH

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2021

14. Statement of funds

Statement of funds - current year

Unrestricted funds
General Funds
Restricted funds
Ministry Fund
Building Fund
Family Outreach Worker
Building Depreciation Fund
Equipment Depreciation Fund
Total of funds		 Balance at
1
October
2020
£
767,340
3,640
-
1,231
312,466
23,672
341,009
1,108,349		 Income
£
Expenditure
£
506,628
(437,651)
-
-
-
(20,493)
-
-
-
(8,250)
-
(5,763)
-
(34,506)
506,628
(472,157)		 Transfers
in/out
£
(11,275)
-
11,275
-
-
-
11,275
-		 Balance at
30
September
2021
£
825,042
3,640
(9,218)
1,231
304,216
17,909
317,778
1,142,820

During the year, a transfer totalling £11,275 (2020: £8,260) was made from unrestricted funds to restricted funds. This transfer represents amounts which were pre-agreed by the trustees to be spent on these projects / activities over and above the budgeted income.

In previous years there have been restricted funds which were spent on capital items. These amounts were transfered to separate restricted funds and annual depreciation continues to be deducted from these funds each year.

Page 33

THE WELL SHEFFIELD BAPTIST CHURCH

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2021

14. Statement of funds (continued)

Statement of funds - prior year

Unrestricted funds
General Funds
Restricted funds
Ministry Fund
Building Fund
Family Outreach Worker
Building Depreciation Fund
Equipment Depreciation Fund		 Balance at
1
October
2019
£
666,289
4,867
-
-
318,976
29,714
353,557		 Income
£
496,244
-
7,740
1,231
-
-
8,971		 Expenditure
£
(386,933)
(1,227)
(16,000)
-
(6,510)
(6,042)
(29,779)		 Transfers
in/out
£
(8,260)
-
8,260
-
-
-
8,260		 Balance at
30
September
2020
£
767,340
3,640
-
1,231
312,466
23,672
341,009

15. Summary of funds Summary of funds - current year

General funds
Restricted funds		 Balance at
1
October
2020
£
767,340
341,009
1,108,349		 Income
£
Expenditure
£
506,628
(437,651)
-
(34,506)
506,628
(472,157)		 Transfers
in/out
£
(11,275)
11,275
-		 Balance at
30
September
2021
£
825,042
317,778
1,142,820

Page 34

THE WELL SHEFFIELD BAPTIST CHURCH

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2021

15. Summary of funds (continued)

Summary of funds - prior year

General funds
Restricted funds		 Balance at
1
October
2019
£
666,289
353,557
1,019,846		 Income
£
496,244
8,971
505,215		 Expenditure
£
(386,933)
(29,779)
(416,712)		 Transfers
in/out
£
(8,260)
8,260
-		 Balance at
30
September
2020
£
767,340
341,009
1,108,349

16. Analysis of net assets between funds

Analysis of net assets between funds - current year

Unrestricted
funds
2021
£
Tangible fixed assets
945,418
Current assets
223,225
Creditors due within one year
(53,721)
Creditors due in more than one year
(289,880)
Total
825,042		 Restricted
funds
2021
£
312,907
4,871
-
-
317,778		 Total
funds
2021
£
1,258,325
228,096
(53,721)
(289,880)
1,142,820

Analysis of net assets between funds - prior year

Tangible fixed assets
Current assets
Creditors due within one year
Creditors due in more than one year
Total		 Unrestricted
funds
2020
£
932,884
219,833
(56,543)
(328,834)
767,340		 Restricted
funds
2020
£
336,138
4,871
-
-
341,009		 Total
funds
2020
£
1,269,022
224,704
(56,543)
(328,834)
1,108,349

Page 35

THE WELL SHEFFIELD BAPTIST CHURCH

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2021

17. Reconciliation of net movement in funds to net cash flow from operating activities

Net income for the year (as per Statement of Financial Activities)
Adjustments for:
Depreciation charges
Loss on sale of tangible fixed assets
(Increase)/decrease in debtors
Decrease in creditors
Less interest received
Net cash provided by operating activities
18.
Analysis of cash and cash equivalents
Cash in hand
19.
Analysis of changes in net debt
At 1
October
2020
£
Cash at bank and in hand
213,662
Debt due within 1 year
(38,250)
Debt due after 1 year
(328,834)
(153,422)		 2021
£
34,471
45,311
-
(5,873)
(3,435)
(21)
70,453
2021
£
211,181
Cash flows
£
(2,481)
(874)
38,954
35,599		 2020
£
88,503
45,461
139
6,735
(69,880)
(244)
70,714
2020
£
213,662
At 30
September
2021
£
211,181
(39,124)
(289,880)
(117,823)

Page 36

THE WELL SHEFFIELD BAPTIST CHURCH

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2021

20. Pension commitments

The Church operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Church in an independently administered fund. The pension cost charge represents contributions payable by the Church to the fund and amounted to £7,279 (2020: £5,987). Contributions totalling £551 (2020: £290) were payable to the fund at the balance sheet date and are included in creditors.

21. Related party transactions

During the year, the Church paid remuneration totalling £29,670 (2020: £27,369) to K Allan who is a close family member of a trustee. This remuneration was paid in respect of her role as joint minister. This includes employer pension contributions totalling £2,387.16 (2020: £1,271) and insurances totalling £1,314.96 (2020: £670).

The Church also paid remuneration totalling £3,466 (2020: £NIL) to TE Spendlove who is a close family member of a trustee. This remuneration was paid in respect of their work as an administrative assistant. This includes employer pension contributions totalling £56 (2020: £NIL).

Trustees are specifically excluded from discussions of matters that might give rise to conflicts of interest.

Page 37