REGISTERED CHARITY NUMBER: 1164766
Report of the Trustees and
Unaudited Financial Statements
for the Year Ended 31 December 2022
for
Fleet Baptist Church
A J Bennewith FCA, FCPA, FFA, FFTA,
FIPA, DChA, FRSA
3 Wey Court
Mary Road
Guildford
Surrey
GU1 4QU
Fleet Baptist Church
Contents of the Financial Statements for the Year Ended 31 December 2022
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Page |
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Report of the Trustees |
1 |
to |
5 |
Independent Examiner's Report |
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6 |
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Statement of Financial Activities |
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7 |
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Balance Sheet |
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8 |
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Notes to the Financial Statements |
9 |
to |
18 |
Fleet Baptist Church
Report of the Trustees for the Year Ended 31 December 2022
Thetrusteespresenttheirreportwiththefinancialstatementsofthecharityfortheyearended31December2022. The
trusteeshaveadoptedtheprovisionsofAccountingandReportingbyCharities:StatementofRecommended Practice
applicabletocharitiespreparingtheiraccountsinaccordancewiththeFinancialReportingStandardapplicableinthe UK
and Republic of Ireland (FRS 102) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES
TheprincipalobjectiveoftheChurchistheadvancementoftheChristianfaithaccordingtotheprinciplesofthe Baptist
denomination.TheChurchmayalsoadvanceeducationandcarryoutothercharitablepurposesintheUnited Kingdom
and/or other parts of the world, including through gift and grant-making.
The Trustees have consideredthe CharityCommission'sguidanceon publicbenefit and, in particular,the specific guidance
oncharitiesfortheadvancementofreligion.Infulfillingtheaboveobjectives,theChurchwillengageinarange of
activitieseitheronitsownorwithothersthatwillvaryfromtimetotimewithactivitiesbeinginitiated,expanded, or
closed, as appropriate. These activities may include but are not restricted to:
-
-regular public worship, prayer, Bible study, teaching and training;
-
-baptism, as defined in the Baptist Union's Declaration of Principle;
-
-the Communion of the Lord's Supper which shall normally be observed at least once a month;
-
-evangelism and mission, locally, regionally, nationally and internationally;
-
-teaching, encouragement, welcome and inclusion of children & young people;
-
-the nurture and spiritual formation of Christian disciples;
-
-education and training for Christian and community service;
-
-giving and encouraging pastoral care;
-
-supporting and encouraging charitable social action in the United Kingdom and abroad;
-
-encouraging relationships with, and supporting, Baptists, other churches and Christians.
To facilitate this work, it is important that we maintain the fabric of the Church buildings.
The Trustees would like to thank all the volunteerswho contributeand work so hard to supportthe Church'sactivities and
enable it to function.
Page 1
Fleet Baptist Church
Report of the Trustees
for the Year Ended 31 December 2022
ACHIEVEMENT AND PERFORMANCE
AsaChurchwecontinuetoprayforgrowth,infaith,sizeandinfluence.Welongtoseemorepeoplecomingtofaith in
Jesus Christandto helpnurtureandencourageindividualsin theirown spiritualandChristianformation.The importance
of being'lightandlove'in the communityhasbecomeoneof ourprimevaluesas we learnto serve the surrounding area
more effectively.
As of 31st December 2022, our membership was 125. During 2022
2022hasseensignificantchange.Iflastyearwasayearofcominghomeandconsolidatingasfamily,thisyear has
witnessedagreatermeasureofshaping,building,andreleasing.Wearerecognisingandresourcingavarietyof ministry
areas withinFBC, such as Prayer,PastoralJourneying,Alpha,Men's Ministryand TeachingTeam, and we are seeing gifted
and equipped people released into these areas.
Ourin-personSundaygatheringsarelivelyandwellattended,andwe havebeenprivilegedtosee manynewcomers visit
ona regularbasis.In Septemberwe beganFAB (FamilyAll-InBreakfast)- a shorterSundayall-inservicewithbreakfast in
the middle.We see this as a wonderfulway to invitethosewho are new to churchand a greatway to foster conversation
andbuildcommunity.Ourtwice-yearlyAlphacourseshavemadeaconsiderableimpactwithmanyAlpha participants
havingnowintegratedintothechurchfamily.ManyhavefoundpersonalbeliefinGod;somehavebeenbaptised and
some have become members.
A significantstep has been made in seeingHart Foodbankmove theirbase to FBC. This is a wonderfulway for us to serve
andfacilitatesuchanimportantinitiative.Foodbankiscontinuallyexpanding,resultinginthemneedingavenue which
wouldprovideopportunitytoengagewithclients,morestoragespace,akitchen,andrefrigeration.Asachurchwe are
delightedtoworkalongsideHartFoodbankandprovidethebasetheyneedfortheirexpandingwork.Wearealso in
discussions with Foodbank to house a community pantry in a renovated garage within FBC's car park.
We also startedto supporta CAP (ChristiansAgainstPoverty)initiativecalled'LifeSkills'.Free coursesare providedto help
participantsmanagetheirmoneyaswellaslookatrelationalandpersonalwellbeing.Thefirstcoursewasdelivered in
November with more planned in 2023. This initiative is jointly run with Christ Church, Church Crookham.
Throughoutthe year, several activitiesfoundfresh momentum.Toddlealongre-startedin Septemberand has already seen
agrowingnumberattend.VariousMen'sministryandWomen'sministryeventshavebeenprovidedandhave included
visitsfromspeakersGordonHicksonfrom'HeartcryForChange'andBekahLegg,CEOofthecharity'Restored'.We have
organiseda Newcomersmeal, scheduledmonthlyprayer& worshipgatherings,and enjoyeda Summer BBQ alongside our
regular array of activities.
FBC has benefittedfrom guest speakersincludingRick Oldlandfrom HarvestAlliance,RachelHicksonand Helen Azer from
'HeartcryForChange',MarkMadavanandCliveCorfieldtoinputintoourjourney.Theyarelong-timesupportive friends
of ours and bring inspiration and encouragement as well as key training in areas such as prayer and living in freedom.
There has alsobeen an increasein networkingwithotherchurchesin the areaandwith'ChristiansTogether',resulting in
ussupportingtwokeytown-wideeventswithworship,music,andcrafts.Themostnotablewasourinvolvementin the
Queens PlatinumJubilee in June and the re-stagingof the Walk-ThroughNativityat the ChristmasFestival in November. At
the Christmas Festival we were also involved in organising carol singing on the main stage at the end of the evening.
Page 2
Fleet Baptist Church
Report of the Trustees
for the Year Ended 31 December 2022
TheChurchcontinuestoencourageandsupportmembers'involvementinthelocalcommunityandthereare many
servingasvolunteersandtrusteesinotherlocalcharitiesandorganisations.TheseincludeFleetAngels,Fleet Carnival,
FleetBaptistPre-School,FleetChristmasevents,FleetMarathonsandFACCTS,acharityworkingwithintheschools of
Fleet and Church Crookham.
We are excited to see the evolvingshape of FBC and so very gratefulto God for the immeasurablegrace and kindness that
continually resources and envisions us. We are also humbled by the love and generous service of our church family.
TheChurchconductssomeofitsactivitiesthroughgiftandgrant-making.Giftsandgrantsweremadeto organisations
operatingoverseas,nationally,andlocallywhoseobjectivesreflectitsown.Grantswerealsogiventosupport members
and attenders pursuing mission and vocational work.
FINANCIAL REVIEW
Financial position
TheChurch'saccountsfortheyearended31December2022aresetoutonpages7 to18.TheChurch'smainsource of
incomeis offeringsanddonationsfrommembersandattendeesandtheassociatedgiftaidclaims.Expenditureover the
yearhassupportedtheactivitiesofthechurchbysupportingstaff,providingforministries,maintainingproperty, and
making gifts and grants.
Unrestrictedincomedecreasedby 0.5% to £193,615(2021: £194,621).This slightdecreasereflectsthe naturalturnover of
achangingchurchmembershipandindividual'sworkfluctuations.Similartolastyear,wecannotunderestimate the
changes and uncertainty in the wider economy and its effects upon people's own financial positions.
Unrestrictedexpenditureincreasedby4.2%to£183,603(2021:£176,278)mainlyduetoanincreaseindepreciation of
£10,348(notacashitem)andanincreaseinlightandheatof£2,949.Therewas,however,adecreasein maintenance
expenditure of £7,376.Last year saw high input into our boiler and heating system which made a difference.
After this, the Church'sactivitiesin 2022led to an excess of incomingresourcesover resourcesexpendedof £9,950, being
asurplusof£10,012onunrestrictedfundsandadeficitof£62onrestrictedfunds.Afterthemovementonthe defined
benefitpensionscheme,thenetmovementsaresurplusesof£31,162onunrestrictedfundsandadeficitof£62 on
restricted funds.
Reserves policy
TheChurch'spolicyonreservesisthatUnrestrictedfundsareneededtoprovideprotectionagainst,andtheability to
continueoperatingdespiteeventssuchasa suddenlossofincomeortheneedtodesignatefundstospecificprojects or
itemsofexpenditureatshortnotice.ThemajorityoftheChurch'sfundsareintheformofthepropertythatituses to
carryoutitscharitableactivities(theChurchbuildingsandtheManse),socouldnotbeusedinpracticein such
circumstances. Therefore, this policy focuses on the reserves that are represented by cash.
Muchof the Church'sexpenditureis fixedor semi-fixedin nature,mainlybeingpremises-relatedor staffcosts. Charitable
gifts and donationsare not fixed in naturebut,for relationshipreasons,suspensionof these by the Churchat short notice
would only be consideredin extreme circumstances.The Church'sincome comes primarilyfrom collectionsand donations
fromChurchMembersandtheassociatedGiftAid.Whilstthereisnorelianceonadominantlocalemployer,the risk
exists of small number of significant donors suffering a dramatic fall in their income or moving away.
The Trusteesbelievethatthe minimumlevel of unrestrictedcash reservesshouldbe sufficientto allowfor expenditure to
bereducedgraduallyover18monthsfollowingasustainedreductionofincometo25%belowtheexpenditure budget.
This 18-monthperiodwouldcomprise6 monthsof review followedby 12 monthsof gradualcost reductionandas such a
reserve of 25% of the annual expenditure budget would be required.
On 31 December 2022 unrestrictedcash reserves were £160,149(31 December 2021: £166,246),well above the budgeted
reservespolicyfigureof £47,580.Reasonsfor the decreaseincludeinvestmentintothe buildingssuchas a new fire alarm
system and various roofing and fireproofing repairs. For the 2023 Budget the reserves policy figure is £48,553.
Page 3
Fleet Baptist Church
Report of the Trustees for the Year Ended 31 December 2022
FUTURE PLANS
We anticipatethe momentumalreadyexperiencedwill continueto gain even more traction.We hope and expect the next
yeartoseeagrowingattendanceonSundaysandinourmid-weekactivities,regularnewcomers,new members,
successfulAlphacourseswithresultingsalvationsandbaptisms,vibrantcollectiveworshipandan increasing involvement
frommembers.Ourreachwithinthecommunitywillcontinuetoexpandwithpotentialplansandinitiativesfor 2023
includinga communitypantryand developinglinksbetweenFoodbankand the CitizensAdvice Bureau.Seeing an increase
in new familiesjoiningus has generatedthe need to prioritiseour deliveryof groupsand activitiesfor childrenand young
people.FABSundayandToddleAlongarepartofthis,withhopestoemployapart-timechildrenandfamilies worker.
Being an outward-facingchurch,immersed withincommunity,continuesto be a major value alongsideprayer& corporate
worship, teaching and application of the Word of God, and 'being' family together.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Fleet BaptistChurch("the Church")is a CharitableIncorporatedOrganisationgovernedby the constitutionadoptedon 10
September2015.On 9 December2015,the Churchregisteredwith the CharityCommission,receivingthe charity number
1164766.
The custodiantrusteeof the Churchis the BaptistUnionCorporationLimited,whichis charitynumber249635and which
is controlled by the Baptist Union Council.
TrusteesareappointedbytheChurchMembers'MeetingtoberesponsibleforthegovernanceoftheChurchand the
fulfilmentofitsobjectivesthroughitsactivities.Onappointment,Trusteesareprovidedwithcopiesofthe constitution
andtheBaptistUnionCorporationLimitedGuidelineLeafletC15:HelpI'maCharityTrustee,aswellascopiesof recent
LeadershipTeammeetingminutesandfinancialreports.Trustees,withtheexceptionoftheSeniorPastor,receive no
financial benefit for their trustee service.
The Trusteesaim to meet bi-monthlyto prayerfullyreviewprogressagainstobjectives,to discernGod'swillinrelation to
the Church'sobjectivesand activitiesand to exercise governance.They delegateday to day operationof Church activities
tothePastorsandvolunteersappointedtoleadvariousministries.ChurchMembers'Meetingsareheldat regular
intervals(at leastfourtimes a year)to worship,to discernGod'swillin relationto proposalsbroughtby the Trustees and
toprayerfullyconsidermattersinthelifeoftheChurch,suchasthebudget,financialreports,membershipand general
church activities.
TheChurchisamemberoftheBaptistUnionofGreatBritain,theSouth-EasternBaptistAssociationandthe Evangelical
Alliance.
TheTrusteeshavereviewedthemajorrisksthattheChurchisexposedtoandsystemsandprocedureshave been
established to manage those risks.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number
1164766
Principal address
115 Clarence Road
Fleet
Hampshire
GU51 3RS
Page 4
Fleet Baptist Church
Report of the Trustees for the Year Ended 31 December 2022
Trustees
Mrs Y Mandiki
Ms S Rinaldi Treasurer
M J Lewis
M Corr (appointed 1.10.23)
B Gillman (appointed 1.10.23)
Senior Staff member
The position of Senior Pastor was vacant throughout the year.
Independent Examiner
A J Bennewith FCA, FCPA, FFA, FFTA,
FIPA, DChA, FRSA
3 Wey Court
Mary Road
Guildford
Surrey
GU1 4QU
Solicitors
Anthony Collins Solicitors LLP
134 Edmund Street
Birmingham
B3 2ES
Primary Banker
CAF Bank Ltd
25 Kings Hill Ave
West Malling
Kent
ME19 4QJ
Custodian Trustees
The custodiantrusteeof the Churchis the BaptistUnionCorporationLimited,whichis charitynumber249635and which
is controlled by the Baptist Union Council.
Approved by order of the board of trustees on 25 October 2023 and signed on its behalf by:
M J Lewis - Trustee
Page 5
Independent Examiner's Report to the Trustees of
Fleet Baptist Church
Independent examiner's report to the trustees of Fleet Baptist Church
I reporttothecharitytrusteesonmy examinationoftheaccountsofFleetBaptistChurch(theTrust)fortheyear ended
31 December 2022.
Responsibilities and basis of report
AsthecharitytrusteesoftheTrustyouareresponsibleforthepreparationoftheaccountsinaccordancewith the
requirements of the Charities Act 2011 ('the Act').
I reportin respectof my examinationof the Trust'saccountscarriedoutunderSection145 of the Act andin carrying out
myexaminationI havefollowedallapplicableDirectionsgivenbytheCharityCommissionunderSection145(5)(b)of the
Act.
Independent examiner's statement
I havecompletedmyexamination.I confirmthatnomaterialmattershavecometomyattentioninconnectionwith the
examination giving me cause to believe that in any material respect:
1. accounting records were not kept in respect of the Trust 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 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 concernsand have come acrossno othermattersin connectionwith the examinationto whichattention should
be drawn in this report in order to enable a proper understanding of the accounts to be reached.
A J Bennewith FCA, FCPA, FFA, FFTA, FIPA, DChA, FRSA
A J Bennewith FCA, FCPA, FFA, FFTA,
FIPA, DChA, FRSA
3 Wey Court
Mary Road
Guildford
Surrey
GU1 4QU
26 October 2023
Page 6
Fleet Baptist Church
Statement of Financial Activities
for the Year Ended 31 December 2022
Unrestricted
fund
Notes
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
2
177,278
Other trading activities
3
14,600
Investment income
4
957
Other income
5
780
Total
193,615
EXPENDITURE ON
Charitable activities
6
Ministry
103,413
Establishment
53,695
Mission and Events
26,495
Total
183,603
NET INCOME/(EXPENDITURE)
10,012
Other recognised gains/(losses)
Actuarial gains on defined benefit schemes
21,150
Net movement in funds
31,162
RECONCILIATION OF FUNDS
Total funds brought forward
629,063
TOTAL FUNDS CARRIED FORWARD
660,225 |
Restricted
funds
£
20
-
-
-
20
-
-
82
82
(62)
-
(62)
7,967
7,905 |
31.12.22
31.12.21
Total
Total
funds
funds
£
£
177,298
177,719
14,600
9,950
957
432
780
6,885
193,635
194,986
103,413
100,698
53,695
46,033
26,577
29,679
183,685
176,410
9,950
18,576
21,150
770
31,100
19,346
637,030
617,684
668,130
637,030 |
31.12.22
31.12.21
Total
Total
funds
funds
£
£
177,298
177,719
14,600
9,950
957
432
780
6,885
193,635
194,986
103,413
100,698
53,695
46,033
26,577
29,679
183,685
176,410
9,950
18,576
21,150
770
31,100
19,346
637,030
617,684
668,130
637,030 |
|
|
|
194,986 |
|
|
|
100,698
46,033
29,679 |
|
|
|
176,410 |
|
|
|
18,576
770 |
|
|
|
19,346
617,684 |
|
|
|
637,030 |
The notes form part of these financial statements
Page 7
Fleet Baptist Church
Balance Sheet
31 December 2022
Notes
FIXED ASSETS
Tangible assets
11
CURRENT ASSETS
Debtors
12
Cash at bank
13
CREDITORS
Amounts falling due within one year
14
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT LIABILITIES
PROVISIONS FOR LIABILITIES
15
NET ASSETS
FUNDS
16
Unrestricted funds
Restricted funds
TOTAL FUNDS |
Unrestricted
fund
£
429,717
77,100
160,149
237,249
(6,741)
230,508
660,225
-
660,225 |
Restricted
funds
£
-
-
7,905
7,905
-
7,905
7,905
-
7,905 |
31.12.22
Total
funds
£
429,717
77,100
168,054
245,154
(6,741)
238,413
668,130
-
668,130
660,225
7,905
668,130 |
31.12.21
Total
funds
£
452,985
43,697
174,213 |
|
|
|
|
217,910
(10,165) |
|
|
|
|
207,745 |
|
|
|
|
660,730
(23,700) |
|
|
|
|
637,030 |
|
|
|
|
629,063
7,967 |
|
|
|
|
637,030 |
The financialstatementswere approvedbytheBoardof Trusteesandauthorisedforissueon25 October2023and were
signed on its behalf by:
M J Lewis - Trustee
S Rinaldi - Trustee
The notes form part of these financial statements
Page 8
Fleet Baptist Church
Notes to the Financial Statements
for the Year Ended 31 December 2022
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
Thefinancialstatementsofthecharity,whichisapublicbenefitentityunderFRS102,havebeenprepared in
accordancewith the CharitiesSORP (FRS 102) 'Accountingand Reportingby Charities:Statementof Recommended
PracticeapplicabletocharitiespreparingtheaccountsinaccordancewiththeFinancialReporting Standard
applicablein the UK and Republicof Ireland(FRS 102) (effective1 January2015), FinancialReportingStandard 102
'TheFinancialReportingStandardapplicableintheUKandRepublicofIreland'andtheCharitiesAct2011. The
accounts have been prepared under the historical cost convention.
Offerings, donations, and tax refunds
Offeringsand donationsare accountedfor gross when received.The associatedtax refunds are accountedfor on a
receivable basis in line with the offering or donation.
Legacies
Legacies are accounted for when their receipt is certain and can be properly quantified.
Investment income
Investment income is included in the accounts in the year in which it is receivable.
Fund raising and publicity costs
Expenditure on these items is not material.
Fixed assets
Tangiblefixedassetsforuse bytheChurcharecapitalisedif theycanbe usedformorethanoneyearandcost at
least £250.
The freeholdlandandbuildingsandothermajorassetspurchasedpriorto 1 January1997were recognisedin the
balance sheet at their transfer value from the previous charity.
Depreciation
Depreciationis providedon all tangiblefixed assets, except freeholdland,at rates calculatedto write off their cost
or valuation, less estimated residual value, of each asset over its expected useful life.
Freehold buildings transferred from previous charity |
- over 31 years |
Freehold buildings |
- over 50 years |
Furniture and fittings |
- 2-4 years straight line |
Equipment |
- 2-4 years straight line |
Taxation
The charity is exempt from tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restrictedfundscanonlybe usedforparticularrestrictedpurposeswithinthe objectsof the charity. Restrictions
arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
continued...
Page 9
Fleet Baptist Church
Notes to the Financial Statements - continued
for the Year Ended 31 December 2022
1. ACCOUNTING POLICIES - continued
Pension costs and other post-retirement benefits
ThechurchparticipatesinapensionschemeknownastheBaptistPensionScheme.Deficitcontributionsto the
definedbenefitelementoftheBaptistPensionSchemearechargedtotheStatementofFinancialActivities as
futureliabilities.ContributionstothedefinedcontributionelementarechargedtotheStatementof Financial
Activitiesintheyeartowhichtheyrelate.Furtherdetailsof theschemeareincludedinthenotesof the financial
statements.
2. DONATIONS AND LEGACIES
Donations
Gift aid
3.
OTHER TRADING ACTIVITIES
Church premises lettings and sales of goods
4.
INVESTMENT INCOME
Interest on bank and building society accounts
5.
OTHER INCOME
Gain on sale of tangible fixed assets |
31.12.22
£
144,100
33,198
177,298
31.12.22
£
14,600
31.12.22
£
957
31.12.22
£
780 |
31.12.21
£
150,686
27,033 |
|
|
177,719 |
|
|
31.12.21
£
9,950
31.12.21
£
432
31.12.21
£
6,885 |
continued...
Page 10
Fleet Baptist Church
Notes to the Financial Statements - continued
for the Year Ended 31 December 2022
6. CHARITIES ACTIVITIES COSTS
CHARITIES ACTIVITIES COSTS |
|
Ministry
Establishment
Mission and Events |
Direct
Costs
£
103,413
53,695
26,577 |
|
183,685 |
Mission and events includes the following Gifts and Grants payable: |
Mission and events includes the following Gifts and Grants payable: |
Mission and events includes the following Gifts and Grants payable: |
|
|
|
2022 |
2022 |
2022 |
2021 |
|
Unrestricted |
Restricted |
Total |
Total |
|
£ |
£ |
£ |
£ |
Gifts and grants payable |
|
|
|
|
Grants to people |
500 |
- |
500 |
4,000 |
Baptist Missionary Society |
9,998 |
- |
9,998 |
9,998 |
Wycliffe |
2,000 |
- |
2,000 |
1,500 |
Fleet and Crookham Churches
Together in Schools (FACCTS) |
4,500 |
- |
4,500 |
4,500 |
Compassion UK |
1,000 |
- |
1.000 |
- |
Open Doors |
1,800 |
- |
1,800 |
1,600 |
Other* |
2,228 |
- |
2,228 |
4,491 |
FBC Pre-School |
2,020 |
- |
2,020 |
2,000 |
|
|
|
|
|
|
24,046 |
- |
24,046 |
28,089 |
|
|
|
|
|
*Includes leaving collections, gifts to speakers and other small donations.
7. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or benefits for the year (2021: none).
Ms Sue Rinaldiwas paid£14,050forworshipleading,administrativeandothergeneraldutiesincluding streaming
and leading services (2021: £12,200 for worship leading, administrative and other duties).
Trustees' expenses
Therewerenotrustees'expensespaidfortheyearended31December2022norfortheyear ended
31 December 2021.
continued...
Page 11
Fleet Baptist Church
Notes to the Financial Statements - continued
for the Year Ended 31 December 2022
8. STAFF COSTS
8. |
STAFF COSTS |
|
|
|
|
|
|
|
|
|
31.12.22 |
|
31.12.21 |
|
|
|
|
£ |
|
£ |
|
Wages and salaries |
|
|
58,000 |
|
58,400 |
|
Social security costs |
|
|
1,391 |
|
1,622 |
|
Other pension costs |
|
|
3,344 |
|
3,008 |
|
|
|
|
62,735 |
|
63,030 |
|
The average monthly number of employees during the year was as |
follows: |
|
|
|
|
|
|
|
|
31.12.22 |
|
31.12.21 |
|
Associate Pastors |
|
|
2 |
|
2 |
|
No employees received emoluments in excess of £60,000. |
|
|
|
|
|
9. |
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES |
|
|
|
|
|
|
|
Unrestricted |
|
Restricted |
|
Total |
|
|
|
fund |
funds |
|
funds |
|
|
|
£ |
£ |
|
£ |
|
INCOME AND ENDOWMENTS FROM |
|
|
|
|
|
|
Donations and legacies |
177,354 |
|
365 |
|
177,719 |
|
Other trading activities |
|
9,950 |
|
- |
9,950 |
|
Investment income |
|
432 |
|
- |
432 |
|
Other income |
|
6,885 |
|
- |
6,885 |
|
Total |
194,621 |
|
365 |
|
194,986 |
|
EXPENDITURE ON |
|
|
|
|
|
|
Charitable activities |
|
|
|
|
|
|
Ministry |
100,698 |
|
|
- |
100,698 |
|
Establishment |
46,033 |
|
|
- |
46,033 |
|
Mission and Events |
29,547 |
|
132 |
|
29,679 |
|
Total |
176,278 |
|
132 |
|
176,410 |
|
NET INCOME |
18,343 |
|
233 |
|
18,576 |
|
Other recognised gains/(losses) |
|
|
|
|
|
|
Actuarial gains on defined benefit schemes |
|
770 |
|
- |
770 |
|
Net movement in funds |
19,113 |
|
233 |
|
19,346 |
|
RECONCILIATION OF FUNDS |
|
|
|
|
|
|
Total funds brought forward |
609,950 |
|
7,734 |
|
617,684 |
continued...
Page 12
Fleet Baptist Church
Notes to the Financial Statements - continued
for the Year Ended 31 December 2022
9. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued
Unrestricted
Restricted
Total
fund
funds
funds
£
£
£
TOTAL FUNDS CARRIED FORWARD
629,063
7,967
637,030
10.
NET MOVEMENT IN FUNDS
2022
2021
£
£
The net movement in funds is stated after charging:
Independent Examiner's Remuneration
3,600
3,600
Independent Examiner's fees for bookkeeping
and accountancy services
3,540
4,600
Depreciation: owned assets
31,271
20,923
11.
TANGIBLE FIXED ASSETS |
Unrestricted
Restricted
Total
fund
funds
funds
£
£
£
TOTAL FUNDS CARRIED FORWARD
629,063
7,967
637,030
10.
NET MOVEMENT IN FUNDS
2022
2021
£
£
The net movement in funds is stated after charging:
Independent Examiner's Remuneration
3,600
3,600
Independent Examiner's fees for bookkeeping
and accountancy services
3,540
4,600
Depreciation: owned assets
31,271
20,923
11.
TANGIBLE FIXED ASSETS |
Restricted
funds
£
7,967 |
Total
funds
£ |
|
|
|
637,030 |
|
|
|
|
|
2022
2021 |
|
|
|
£
£ |
|
|
|
|
|
|
|
3,600
3,600 |
|
|
|
|
|
|
|
3,540
4,600 |
|
|
|
31,271
20,923 |
|
|
|
|
|
|
COST
At 1 January 2022
Additions
Disposals
At 31 December 2022
DEPRECIATION
At 1 January 2022
Charge for year
Eliminated on disposal
At 31 December 2022
NET BOOK VALUE
At 31 December 2022
At 31 December 2021 |
Freehold
property
£
462,150
-
-
462,150
58,737
10,070
-
68,807
393,343
403,413 |
Fixtures
and
Computer
fittings
equipment
£
£
70,621
42,279
6,564
1,805
(366)
(602)
76,819
43,482
25,226
38,102
18,447
2,754
-
(602)
43,673
40,254
33,146
3,228
45,395
4,177 |
Totals
£
575,050
8,369
(968)
582,451
122,065
31,271
(602)
152,734
429,717
452,985 |
|
|
|
|
FreeholdPropertycomprisestheChurchpremisesandtheManse.ThenetbookvalueoftheChurchpremises at
31 December 2022 was £290,243(2021: £298,116)and the net book value of the Manse at 31 December 2022 was
£103,100 (2021: £105,297).
Computer equipment includes sound and other equipment.
continued...
Page 13
Fleet Baptist Church
Notes to the Financial Statements - continued
for the Year Ended 31 December 2022
12. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Interest Receivable
Gift Aid Receivable
Prepayments
13.
CASH AT BANK
Church:
-CAF cash account
-CAF gold account
-Office expenses account (CAF)
-Stewardship deposit account
-The Family Building Society
14.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Other creditors |
31.12.22
£
589
75,816
695
77,100 |
31.12.22
£
589
75,816
695
77,100 |
31.12.21
£
230
42,618
849
43,697 |
31.12.21
£
230
42,618
849
43,697 |
|
|
2022 |
|
2021 |
|
|
£ |
|
£ |
|
|
|
|
|
|
|
17,841 |
|
16,761 |
|
|
70,517 |
|
10,763 |
|
|
683 |
|
497 |
|
|
- |
|
67,432 |
|
|
79,012 |
|
78,760 |
|
|
|
|
|
|
|
|
|
|
|
168,053 |
|
174,213 |
|
|
|
|
|
|
|
31.12.22
£
6,741 |
|
31.12.21
£
10,165 |
|
15. PROVISIONS FOR LIABILITIES
ThechurchisanemployerparticipatinginapensionschemeknownastheBaptistPensionScheme ("the
Scheme").TheSchemeisaseparatelegalentitywhichisadministeredbythePensionTrustee(Baptist Pension
Trust Limited).
The minister is eligible to join the Scheme.
FromJanuary2012,pensionprovisionforMinisterswasmadethroughtheDefinedContribution(DC)Plan within
the BPS. In general,members pay 8% of their PensionableIncome and employerspay 6% of members' Pensionable
Incomeintoindividualpensionaccounts.Inaddition,theemployerpaysafurther4%ofPensionableIncome (or
3% if the employeris in the segregatedDC section)to cover Death in Service Benefits,administrationcosts, and an
associatedinsurancepolicywhichprovidesincomeprotectionforBPS membersintheeventthattheyare unable
to work due to long-termincapacity.This incomeprotectionpolicyhas been insuredby the BaptistUnionof Great
BritainwithAviva.MembersoftheBasicSectionofBPSpayreducedcontributionsof5%ofPensionable Income,
and their employers also pay a total of 5%.
continued...
Page 14
Fleet Baptist Church
Notes to the Financial Statements - continued for the Year Ended 31 December 2022
15. PROVISIONS FOR LIABILITIES - continued
Benefits in respect of service prior to 1 January2012 are providedthroughthe Defined Benefit (DB) Plan within the
BPS.Themainbenefitsforpre-2012servicewereadefinedbenefitpensionofoneeightiethofFinal Minimum
PensionableIncome for each year of PensionableService, togetherwith additionalpensionin respect of premiums
paidonPensionableIncomeinexcessofMinimumPensionableIncome.TheScheme,previouslyknownas the
BaptistMinisters'PensionFund,startedin1925,butwasclosedtofutureaccrualofdefinedbenefitson 31
December 2011.
AformalvaluationoftheDefinedBenefit(DB)Planwasperformedat31December2019bya professionally
qualifiedActuaryusingtheProjectedUnitMethod.ThemarketvalueoftheDBPlanassetsatthevaluation date
was £298 million.
ThevaluationoftheDBPlanrevealedadeficitofassetscomparedwiththevalueofliabilitiesof£18 million
(equivalentto a past service fundinglevel of 94%). As a resultof the valuations,in additionto the contributions to
theDCPlansetoutabove,itwasagreedthatthestandardrateofdeficiencycontributionsfromchurches and
otheremployersinvolvedintheDBPlanwillremainatpreviouslyagreedlevels,increasingeachyearinline with
increasesintheMinimumPensionableIncome.Thedeficiencycontributionsarebroadlybasedon12% of
PensionableIncome/MinimumPensionableIncome, reflectingeach employer'scontributionsin March 2015. Some
employersthatwereinvolvedintheDBPlanforashortperiodpaylowercontributions.TheTrusteeand the
Councilagreeda50%reductionforalldeficiencycontributionspayablebetween1July2020and31 December
2020.
Inaddition,theBaptistUnionofGreatBritainagreedtocontributealumpsumof£0.5mby31December 2020.
The Recovery Plan dated 30 September 2020 envisaged deficiency contributions continuing until 30 June 2026.
At the end of June 2022, the BPS signed an agreementwith the insurancecompanyJust Group to secure members'
pensionbenefitsundertheDBPlan.Asaresult,theSchemenolongerhasashortfall.Arevisedstatement of
contributionswasannouncedinJuly2022withdeficitcontributionsfromeachparticipatingemployerinthe DB
Planreducingto£1permonthfromAugust2022.However,participatingemployersremainresponsible for
providing a share of any additional funds that the DB Plan may require in the future.
The key financial assumptions underlying the valuations were as follows (% pa):
Type of assumption: |
% pa |
RPI price inflation assumption |
3.20 |
CPI price inflation assumption |
2.70 |
Minimum Pensionable Income increases (CPI plus 0.75% pa) |
3.20 |
Assumed investment returns: |
|
- Pre-retirement |
2.95 |
- Post retirement |
1.70 |
Deferred pension increases: |
|
- Pre April 2009 |
3.20 |
- Post April 2009 |
2.50 |
Pension increases |
2.70 |
As thereis a largenumberof contributingemployersparticipatingin the Scheme,the Churchis unableto identify
its share of the underlyingassets and liabilitiesof the scheme. Accordingly,the chargefor the periodrecognised in
the Statement of Financial Activities represents the employer contributions payable.
Movement in Balance Sheet liability
continued...
Page 15
Fleet Baptist Church
Notes to the Financial Statements - continued
for the Year Ended 31 December 2022
15. PROVISIONS FOR LIABILITIES - continued
Section 28.11A of FRS 102 requiresagreed deficit recovery paymentsto be recognisedas a liability.The movement
in the provision is set out in the table below.
|
2022 |
2021 |
|
£ |
£ |
Liability at the beginning of the year |
23,700 |
29,412 |
Contributions for the year |
(2,994) |
(5,050) |
Interest cost |
444 |
108 |
Remaining charge/(credit) to balance sheet (recognised in SoFA) |
(21,150) |
(770) |
|
|
|
Liability at the end of the year |
- |
23,700 |
|
|
|
16. MOVEMENT IN FUNDS
Unrestricted funds
General fund
Restricted funds
Charity Fund
Emmanuel Fund
Toddle Along
TOTAL FUNDS
Net movement in funds, included in the above are as follows:
Incoming
resources
£
Unrestricted funds
General fund
193,615
Restricted funds
Charity Fund
20
Toddle Along
-
20
TOTAL FUNDS
193,635 |
At 1.1.22
£
629,063
4,249
497
3,221
7,967
637,030
Resources
expended
£
(183,603)
-
(82)
(82)
(183,685) |
Net
movement
At
in funds
31.12.22
£
£
31,162
660,225
20
4,269
-
497
(82)
3,139
(62)
7,905
31,100
668,130
Gains and
Movement
losses
in funds
£
£
21,150
31,162
-
20
-
(82)
-
(62)
21,150
31,100 |
|
|
|
continued...
Page 16
Fleet Baptist Church
Notes to the Financial Statements - continued for the Year Ended 31 December 2022
16. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
At 1.1.21
£
Unrestricted funds
General fund
609,950
Restricted funds
Charity Fund
4,016
Emmanuel Fund
496
Toddle Along
3,222
7,734
TOTAL FUNDS
617,684
Comparative net movement in funds, included in the above are as follows:
Incoming
Resources
resources
expended
£
£
Unrestricted funds
General fund
194,621
(176,278)
Restricted funds
Charity Fund
365
(132)
TOTAL FUNDS
194,986
(176,410) |
Net
movement
At
in funds
31.12.21
£
£
19,113
629,063
233
4,249
-
496
-
3,222
233
7,967
19,346
637,030
Gains and
Movement
losses
in funds
£
£
770
19,113
-
233
770
19,346 |
|
|
The Charityfund is for restrictedfundsreceived and then paid out for their specificpurposes.The Emmanuel Fund
isusedtoblessthoseknowntoFleetBaptistChurchwhoareunabletomeettheirimmediatematerial needs.
Toddle Along is an organisation that operates within Fleet Baptist Church.
continued...
Page 17
Fleet Baptist Church
Notes to the Financial Statements - continued
for the Year Ended 31 December 2022
17. RELATED PARTY DISCLOSURES
The custodiantrusteeof the Churchis the BaptistUnionCorporationLimited,which is charitynumber249635 and
which is controlledby the BaptistUnion Council.The Churchis also a member of the BaptistUnion of Great Britain
and the South Eastern Baptist Association.
There were no relatedpartyexpensesduringthe years ended 31 December 2022 or 31 December 2021. Payments
to one trustee in respect of services rendered are disclosed in note 7.
In 2022, the Trustees made total unrestricted donations of £13,600 to the Church (2021: £12,060).
Page 18