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← West Wickham And Shirley Baptist Church

2023-12-31-accounts

West Wickham & Shirley Baptist Church – Annual Report and Accounts 2023

West Wickham & Shirley Baptist Church

Annual Report and Accounts 2023

(Charity Reg. No. 1166796)

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West Wickham & Shirley Baptist Church – Annual Report and Accounts 2023

Page
Legal and administrative information 3
Annual Report of the Trustees 5
Independent Examiner's report to the Trustees 14
Statement of financial activities 15
Balance sheet 16
Notes to the financial statements 17

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West Wickham & Shirley Baptist Church – Annual Report and Accounts 2023

Legal and Administrative Information for the year ending 31[st] December 2023

Charity Name

West Wickham & Shirley Baptist Church

Registered Address

Corner of Wickham Road & Monks Orchard Road, Croydon, CR0 8EH

Charity registration number

1166796

Governing document :

Church Constitution originally dated April 2016, revised March 2019.

Objects of the Charity

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

The Church has been inspired to embrace the vision to become like ‘ A City on a Hill ’ in the context of Matthew’s Gospel, ch. 5 verse 14 and consequently adopted the following Mission Statement: " Transforming lives and communities with the power of God’s love .‛

Trustees

The Trustees who served during the year or who were serving at the date of this report were:

Rev Jonathan Hills (Chair, Senior Minister) Rev Sara Kennett (Minister) Mr Clifford Underhay (Secretary) Mr Paul Bradbury (Treasurer) Mr Philip Jenkins Mr. Neil Selby Mr Okenna Nzelu Mrs June George (started 01/01/2024) Mrs Marilyn Boggust (started 01/01/2024)

Key Management Personnel

Those in charge of planning, directing, controlling, running and operating the church, including those members of staff who are the senior management personnel to whom the trustees have delegated significant authority or responsibility in the day-to-day running of the charity, are the Trustees, Ministry Leaders, Boys’ Brigade Captain, Girls’ Brigade Captain, and Youth & Children’s Worker.

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West Wickham & Shirley Baptist Church – Annual Report and Accounts 2023

Legal and Administrative Information for the year ending 31[st] December 2023

Bankers

Lloyds Bank, 137 North End, Croydon, CR0 1TN Natwest Bank, 33 High St, West Wickham BR4 0LR

Teachers Building Society, Allenview House, Hanham Road, Wimborne, Dorset, BH21 1AG Baptist Union Corporation Ltd, Baptist House, 129 Broadway, Didcot, Oxon, OX11 8RT

Independent Examiner

John Helm ACA, Tandem Accounting, 17 Heathville Road, London N19 3AL

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West Wickham & Shirley Baptist Church – Annual Report and Accounts 2023

Annual Report of the Trustees for the year ending 31[st] December 2023

The Trustees submit their annual report and the financial statements of West Wickham & Shirley Baptist Church (‚the Church‛) for the year ended 31 December 2023. The financial statements have been prepared in the format prescribed by the Statement of Recommended Practice: Accounting and Reporting by Charities (SORP2015 (FRS102)) and the Financial Reporting Standard 102. The legal and administrative information set out earlier in this document forms part of this report.

Going Concern

Each year it is the Trustee’s responsibility to state whether or not the annual accounts have been drawn up on a going concern basis (see the accounting policy note on page 17). Going concern is the assumption that an entity, in this case the Church, has the resources (financial or otherwise) needed to continue operating for the foreseeable future and in particular, for at least 12 months from the date of approval by the Trustees of these annual accounts. If the going concern principle did not apply, then the accounts would be drawn up on an insolvent basis.

The Trustees have reviewed its financial forecast for 2024. This review indicates that the church’s income is expected to meet its expenditure in 2024. Accordingly, it has concluded that it is appropriate to prepare the 2023 Accounts on a going-concern basis and that it is not necessary to make any adjustment to these accounts as a result of the current situation. The Trustees will continue to keep both the short-term and longer-term impact under review, ensuring that the financial situation of the church is reviewed on a monthly basis, and is coupled with a robust budgeting process.

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West Wickham & Shirley Baptist Church – Annual Report and Accounts 2023

Annual Report of the Trustees for the year ending 31[st] December 2023

1. Structure, Governance & Management

Trustees are responsible for the day-to-day management of the Church’s business in accordance with the Church’s objects. Trustees are elected by the Church members’ meeting. Trustees will normally serve a term of office of three years but can be re-elected at the end of their first and any subsequent terms.

Trustees usually meet 10 times per year to discuss a full range of matters relating to finance, fabric of the buildings, general administration, the implementation of the church constitution and responsibility for the keeping of the church membership roll.

The financial aspects of the church are the responsibility of the Trustees, but they are managed on a day-to-day basis by the Treasurer, the Finance Group (who are responsible for reviewing the finances and suggesting matters of policy to the trustees), the Offering Counting Team and the Treasurers for the auxiliary departments (e.g. Boys’ Brigade, Girls’ Brigade).

None of the Church’s Trustees, with the exception of the Ministers, receive remuneration.

The induction process for any church member newly-appointed as a Trustee comprises an initial meeting with the Minister and receipt of copies of:

Church Members

Church Membership is open to those who:

Church Members share in the responsibility for the finances, administration, maintenance and activities of the church and elect the Church Leadership. Church Members meet regularly each year for business meetings and receive reports from the Church Leadership.

Risk & Risk Management

The church and its activities operate with the confidence and assurance of God’s provision and protection. Nevertheless, the trustees are aware of the ever-changing risks that the church is exposed to which could affect its ability to fulfil its objectives and purposes. The trustees have put in place a risk management framework supported by a risk management policy and a culture of creating and managing risk assessments for activities to which they are appropriate.

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West Wickham & Shirley Baptist Church – Annual Report and Accounts 2023

Annual Report of the Trustees for the year ending 31[st] December 2023

An assessment of the major risks that the church faces is routinely reviewed by the trustees and mitigating controls are put in place and reviewed. Where controls are considered to require additional work to reduce the risk to an acceptable level, a clear action plan and ownership is put in place.

At a high-level the areas of risks identified and monitored by the trustees include:

Risk Area Mitigating Controls
Safeguarding and safety of anyone Safeguarding team, safeguarding policy,
involved in church activities safeguarding training. Health & Safety policy & risk
assessments. Individual activityrisk assessments.
Alignment of church activities to the Appropriate level of leadership and internal
charitable objects/purposes reporting, clear communication of church objectives
to leaders/volunteers.
Proper management of financial resources
Financial controls & procedures, budgeting process,
reservespolicy,fiveyearproperty plan.
Compliance with legislation Regularly reviewed set of policies covering all areas
of church life. Staff/volunteer training.

2. Activities

In fulfilling its purpose, the Church will engage in a range of activities either on its own or with others that will vary from time to time with activities being initiated, expanded, or closed, as appropriate. When planning our activities for the year, the trustees have considered the Charity Commission’s guidance on public benefit. In particular, we try to enable ordinary people to live out their faith as part of our church and local community through:

To facilitate this work, it is important that we maintain the fabric of the church buildings.

The Activities may include but are not restricted to:

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West Wickham & Shirley Baptist Church – Annual Report and Accounts 2023

Annual Report of the Trustees for the year ending 31[st] December 2023

The Church runs a range of activities and organisations for all age-groups. The motivation for all of these has been to demonstrate God’s love to the community, to reach out in His name, to bring people into a saving knowledge of His love, to draw them into the Fellowship of His Church and to build up the Church Family.

The activities and organisations normally taking place are:

For Children and Parents:

For Young People

For Adults

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West Wickham & Shirley Baptist Church – Annual Report and Accounts 2023

Annual Report of the Trustees for the year ending 31[st] December 2023

3. Achievements & Performance

During 2023 the church’s activities continued to develop its commitment to becoming a centre for the local community adopting the theme ‘Helping Build a Better Community’. This included the continuation of the Baby Bank, and the establishment of a trial ‘Pantry’, a franchise of the National initiative ‘Your Local Pantry’.

During 2023 a coffee shop was constructed inside the Sanctuary together with a newly installed soft-play area which not only serves Rhyme Time and Pickle Sports but opens to the public on three days per week. This is an opportunity for church members and volunteers to serve the local community and to offer support to those seeking a place of welcome.

During the year we were pleased for our Green Group to establish a Gardening Club meeting regularly each week who set about transforming the church garden and surrounding flower beds, constructing a raised bed for growing flowers and vegetables as well as installing bird boxes and a rainwater capture butt.

In order to encourage healthy travel, the Green Group also installed a cycle rack for visitors to use.

In June we were pleased to receive the Eco Church Bronze Award. The Green Group will seek to gain the next level award!

During the summer we upgraded our heating system by installing a combination of high efficiency Gas boilers, air source heat pumps, and Wi-Fi thermostats in order to reduce the church’s use of fossil fuels and to increase the efficiency of the system and improve the comfort of the users of the premises.

During 2023 we were pleased to establish a connection to a football outreach project in deprived areas in Colombia through a connection to one of our church members. We hope this connection will develop into an ongoing support for the project.

The church is pleased to be able to offer specific targeted support to Ukraine through the provision of medical supplies and facilitate fund-raising activities by the local Ukrainian community.

In 2023 we were pleased to hold a baptismal service where two of our young people made public professions of faith by being baptised.

A massive thank you goes to all those involved in running these activities and keeping the mission of the church going.

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West Wickham & Shirley Baptist Church – Annual Report and Accounts 2023

Annual Report of the Trustees for the year ending 31[st] December 2023

4. Financial review

Traditionally the church’s main sources of funding are the free-will offerings of church members, and others in attendance at church meetings, and income from hiring out the church’s premises and facilities. From 2020 through 2022 the church’s income from weekly offerings and rental income reduced due to the non-availability of the church premises, however these have started to move towards pre-Covid levels during 2022 and 2023. Furthermore, the church membership has continued to support the church financially and many people who would normally give through the offering have transferred to other methods of giving.

Financial Activity and Financial Position

The Statement of Financial Activities and Balance Sheet can be found on pages 15 and 16 respectively. The Church’s total reserves and free reserves decreased by £46,127 during the year. This was largely due to the expenditure on a replacement heating system and fit-out of the church coffee hub. The balance sheet shows total net assets of £2,220,936 at the end of 2023.

The church has maintained a strong financial position at the end of 2023, due mainly to the generous levels of giving by members of the congregation.

Included in total funds are amounts totalling £7,852 which are restricted. These monies have either been raised for, and their use is restricted to specific purposes, or they comprise donations subject to donor-imposed conditions. More details of these restricted funds can be found in note 8 to the accounts together with an analysis of movements in the year.

The building project was re-based to focus its attention on the creation of a coffee shop, and the repurposing of various existing rooms to meet the needs of future projects based around the church being a Hub for the Community. This work was started during 2023 with the creation of a coffee hub within the church sanctuary, with soft-play area. Additionally, rooms were re-purposed to create space for the Baby Bank and Pantry.

In addition to the above funds the church runs several other restricted funds for particular purposes. This includes funds for giving to other organisations such as Baptist Home Mission and Baptist Missionary Society. The Plummer Fund, named after a church member who left a generous bequest, is designated for assistance to young people who undertake missionary work in other countries.

Towards the end of 2023 the coffee hub opened for trading three half-days per week, selling coffee and refreshments, providing a space for the community to meet. Currently this activity is fully operated by volunteers.

During 2023 the church opened an additional bank account, at Nat West, to provide a local mechanism for banking cash (in response to the closure of the local Lloyds branch) and also to provide a banking facility for the Hub activities.

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West Wickham & Shirley Baptist Church – Annual Report and Accounts 2023

Annual Report of the Trustees for the year ending 31[st] December 2023

Reserves Policy

The Trustees have established a Reserves Policy which aims to maintain a level of reserves equivalent to three month’s average expenditure. The Church believes this is a reasonable and prudent level but would permit variations from this amount where circumstances warrant this. This would be, for instance, where expenditure is so urgent that to delay it would result in even higher costs later. If this situation should arise, then the Church would make plans to rebuild the reserves as quickly as possible.

At 31 December 2023 the church had free reserves of £105,748 (2022: £151,875) as follows:

Total reserves
Less: restricted funds
Less: capital funds
Free reserves
Free reserves requirement:
3 month’s budgeted routine expenditure		 2023 2022
£
2,288,616

(34,214)

(2,102,527)
£
2,220,936
(12,661)
(2,102,527)
105,748 151,875
50,000
50,000

Volunteers

The Church is heavily dependent on its membership and congregation working as volunteers in all aspects of the church’s activities, many of which run with little or no impact on the church’s expenditure, but nevertheless contribute substantially to the achievement of the church’s objectives. No accounting for this time and effort has been included in the financial statements.

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West Wickham & Shirley Baptist Church – Annual Report and Accounts 2023

Annual Report of the Trustees for the year ending 31[st] December 2023

5. Plans for Future Periods

As the church moves forward into 2024 the church will seek to continue to serve the community by continuing our current activities and developing other means of service and outreach.

We will continue to develop the Baby Bank as usage has demonstrated a big demand for this amongst the parents/carers of our Rhyme Time and Pickle Sports attendees. In addition, we are in communication with other local charities together with the London Boroughs of Croydon and Bromley Social Services who are demonstrating a wider demand for this service.

Due to the demand of the ‘Pantry’, we will further develop the ‘Pantry’ as part of the National charity ‘Your Local Pantry’. From an initial trial it has become clear that there is a greater demand for this service, and we will seek to increase capacity in order that more customers might be accommodated.

The church is seeking to establish itself as a hub for the local community and will actively seek to promote this concept through future developments of ‘The Hub’ coffee shop and soft play area; we will seek to engage with other agencies in order to provide a warm, convenient, safe place where people of all ages and backgrounds can find a welcome. In addition, we will explore the opportunities to expand the reach of The Hub by providing other activities in partnership with other agencies and Local Authorities – e.g. LB Croydon, LB Bromley, NHS.

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West Wickham & Shirley Baptist Church – Annual Report and Accounts 2023

Annual Report of the Trustees for the year ending 31[st] December 2023

6. Statement of Trustees’ Responsibilities

The trustees are responsible for preparing the Trustees’ Annual 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 charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

7. Approval

The report of the Trustees was approved by the Trustees on 10[th] September 2024 and signed on its behalf by:

Cliff Underhay Trustee

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West Wickham & Shirley Baptist Church – Annual Report and Accounts 2023

Independent Examiner's Report to the Trustees of West Wickham & Shirley Baptist Church for the year ending 31[st] December 2023

I report on the accounts of the Church for the year ended 31 December 2023 which are set out on pages 15 to 29 of the charity report and accounts.

Respective responsibilities of trustees and examiner

The charity’s trustees are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this year under section 144 of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.

It is my responsibility to:

Basis of independent examiner's statement

My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a ‚true and fair view‛ and the report is limited to those matters set out in the statement below.

Independent examiner's statement

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

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

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

  3. the accounts do not comply with the 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.

Mr John Helm Date 30[th] September 2024 17 Heathville Road London N19 3AL

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West Wickham & Shirley Baptist Church – Annual Report and Accounts

2023

Statement of Financial Activities for the year ending 31[st] December 2023

<------------------------------- 2023 (currentyear)-----------------------------> <------------------------------- 2023 (currentyear)-----------------------------> <------------------------------- 2023 (currentyear)-----------------------------> <------------------------------- 2023 (currentyear)-----------------------------> <------------------------------- 2022 (prioryear)-----------------------------> <------------------------------- 2022 (prioryear)-----------------------------> <------------------------------- 2022 (prioryear)-----------------------------> <------------------------------- 2022 (prioryear)----------------------------->
Notes Unrestricted
**Funds **
Restricted Funds		 Capital
Funds
Total
Funds		 Unrestricted
**Funds **
Restricted Funds		 Capital
Funds
Total
Funds
£ £ £ £ £ £ £ £
Income and endowments from:
Donations and legacies 2 201,046 32,179 - 233,225 166,009 825 - 166,834
Charitable activities 2 677 9,755 - 10,432 1,628 17,254 - 17,390
Other tradingactivities 2 12,814 3,727 - 16,541 20,510 - - 20,510
Investment Income 2 1,855 - - 1,855 1,492 - - 1,492
Total 216,392 45,661 - 262,053 189,639 18,079 - 206,226
Expenditure on:
Charitable activities 3 262,519 67,214 - 329,733 193,041 17,316 - 210,357
Total 262,519 67,214 - 329,733 193,041 17,316 - 210,357
Net income (46,127) (21,553) - (67,680) (4,894) 763 - (4,131)
Transfers between funds - - - - - - - -
Other recognisedgains/(losses):
Gains/(losses) on revaluation of fixed
assets		 - - - - - - - -
Net movement in funds (46,127) (21,553) - (67,680) (4,894) 763 - (4,131)
Reconciliation of funds:
Total funds brought forward 151,875 34,214 2,102,527 2,288,616 156,769 33,451 2,102,527 2,292,747
Total funds carried forward 105,748 12,661 2,102,527 2,220,936 151,875 34,214 2,102,527 2,288,616

West Wickham & Shirley Baptist Church – Annual Report and Accounts 2023

Balance Sheet

As at 31 December 2023

Notes Unrestricted
Funds
Restricted
Funds
Capital
Funds
Total
Funds
2023		 Total
Funds
2022
£ £ £ £ £
Fixed Assets:
Tangible assets 4 6,987 - 2,102,527 2,109,514 2,110,538
Total Fixed Assets 6,987 - 2,102,527 2,109,514 2,110,538
Current Assets:
Debtors 5 8,680 3,851 - 12,531 6,246
Prepayments 5 2,354 - - 2,354 -
Cash at bank and in hand 93,037 9,721 - 102,758 174,636
Total Current Assets 104,071 13,572 - 117,643 180,882
Current Liabilities:
Creditors: Amounts falling due within
oneyear		 6 5,310 911 6,221 2,804
Net Current assets 98,761 12,661 - 111,422 178,078
Total assets less current liabilities 105,748 12,661 2,102,527 2,220,936 2,288,616
Other Liabilities:
Defined Benefit Pension Scheme
Liability		 7 - - - - -
Total net assets 105,748 12,661 2,102,527 2,220,936 2,288,616
The funds of the charity:
Unrestricted funds 8 105,748 - - 105,748 151,875
Restricted income funds 8 - 12,661 - 12,661 34,214
Capital funds 8 - - 2,102,527 2,102,527 2,102,527
Total charity funds 105,748 12,661 2,102,527 2,220,936 2,288,616

The financial statements were approved by the Trustees on 10[th] September 2024 and signed on its behalf by:

Paul Bradbury Trustee

The notes on pages 17 to 29 form part of these accounts.

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West Wickham & Shirley Baptist Church – Annual Report and Accounts

2023

Notes to the Financial Statements

For the year ended 31 December 2023

1. Accounting Policies

The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows:

Basis of accounting

The financial statements have been prepared under the Charities Act 2011 and in accordance with the Charities Statement of Recommended Practice (Charities SORP (FRS 102)) and Financial Reporting Standard 102 (FRS 102). The accounts have also incorporated the amendments defined in Update Bulletin 1 to the Charities SORP (FRS 102), published on 2 February 2016. The financial statements are drawn up on the historical cost basis of accounting except for the revaluation of the residential freehold land and building which is shown at market value.

The financial statements include all transactions, assets and liabilities for which the Church is responsible in law. They do not include the accounts of church groups that owe an affiliation to another body or those that are informal gatherings of church members.

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

Going Concern

There are no material uncertainties about the charity’s ability to continue as a going concern and accordingly the accounts have been drawn up on a going concern basis.

Income recognition

Voluntary income and donations (including legacies) are accounted for once the Church has entitlement to the income, it is probable the income will be received and the amount of income receivable can be reliably measured. Income from the recovery of tax on gift aided donations is accounted for in the period to which the relevant donation is received. Grant income is recognised on a receivable basis.

The value of any voluntary help received is not included in the accounts but is described in the trustees’ annual report.

The income from trading activities includes rental income from the letting of church premises which is accounted for when earned.

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Church; this is normally upon notification of the interest paid or payable by the bank.

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West Wickham & Shirley Baptist Church – Annual Report and Accounts

2023

Notes to the Financial Statements For the year ended 31 December 2023

1. Accounting Policies (continued)

Expenditure recognition

Expenditure is accrued as soon as a liability is considered probable, and the amount of obligation can be measured reliably. Longer term liabilities are discounted to present value. The Church is not registered for VAT and accordingly expenditure includes VAT where appropriate.

Charitable expenditure includes those costs in fulfilling the Church’s principal objects, as outlined in the Report of the Trustees. These include governance costs which comprise all costs involving the public accountability of the Church and its compliance with regulation and good practice. These costs include costs related to the independent examination and legal fees.

The church pays pension contributions into the Baptist Pension Scheme, a final salary defined benefit scheme for contributions until 31 December 2011 and a defined contribution scheme for contributions made thereafter. The scheme is a multi-employer scheme and it is not possible to identify the assets and liabilities of the scheme which are attributable to the church. The scheme is therefore accounted for as a defined contribution scheme, with contributions payable to the scheme being accounted for on an accruals basis. In addition, the church currently pays contributions towards a deficit on the defined benefit scheme. The deficit, discounted to present value, is fully provided in these accounts and the charge to the income and expenditure account, which is included in the total pension cost, is the element of the movement in the provision which relates to the movement in the discount.

Rentals under operating leases are charged as incurred over the term of the lease.

Tangible Fixed Assets

Tangible fixed assets are accounted for as follows:

Debtors

Debtors are included at the settlement amount due. Prepayments are valued at the amount prepaid.

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West Wickham & Shirley Baptist Church – Annual Report and Accounts

2023

Notes to the Financial Statements

For the year ended 31 December 2023

1. Accounting Policies (continued)

Cash at bank and in hand

Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of opening of the deposit.

Creditors and provisions

Creditors and provisions are recognised where the charity has a present obligation arising from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are recognised at their settlement amount.

Fund accounting

The funds held by the charity are either:

2. Income

2. Income
**Unrestricted Funds ** Restricted Funds Total
2023		 Total
2022
£ £ £ £
Donations and legacies
Gift Aided Donations 119,544 19,685 139,229 106,682
Donations 30,445 7,000 37,445 16,156
Tax Recovered 34,514 4,921 39,435 29,814
Offering 16,543 573 17,116 14,182
Bequest / Legacy - - - -
Total 201,046 32,179 233,225 166,834
Charitable Activities
Fees/Contributions - 5,077 5,077 4,565
Other Income 677 4,678 5,355 12,825
Total 677 9,755 10,432 17,390
Other trading activities
LettingIncome 12,814 - 12,814 20,510
Coffee Hub Sales - 3,727 3,727 -
Total 12,814 3,727 16,541 20,510
Investment Income
Bank Interest 1,855 - 1,855 1,492
Grand Total 216,392 45,661 262,053 206,226

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West Wickham & Shirley Baptist Church – Annual Report and Accounts

2023

Notes to the Financial Statements For the year ended 31 December 2023

3. Expenditure on charitable activities

**Unrestricted Funds ** Restricted Funds Total
2023		 Total
2022
£ £ £ £
Staff Costs(see note below) 146,407 - 146,407 117,588
BuildingMaintenance 55,572 33,830 89,402 23,248
Equipment/Materials 12,517 9,373 21,890 10,356
Utilities 19,582 - 19,582 16,413
Subs/Fees 5,389 8,863 14,252 6,316
Youth & Children 3,726 7,659 11,385 8,243
Depreciation(Equipment) 8,164 - 8,164 8,656
Grants/Gifts(see note below) 2,506 2,846 5,352 9,726
Insurance 3,098 - 3,098 3,778
Coffee Hub Costs - 3,317 3,317 -
Office/Printingetc 1,906 163 2,069 1,889
OperatingLease(Photocopier) 1,498 - 1,498 1,498
Publicity 94 1,140 1,234 188
Ind. Examiner's Fee 1,000 1,000 1,010
Staff Expenses 729 - 729 549
PreachingFees 330 - 330 331
Other 1 23 24 568
BuildingDevelopment - - - -
Total 262,519 67,214 329,733 210,357

3a Staff Costs

2023 2022
£ £
Grosspay 129,923 120,960
Pension contributions 9,023 11,074
Pension contributions(LiabilityAdj) - (22,600)
Employers NI 11,657 11,010
Employment Allowance (5,000) (5,000)
Staff Training 108 1,490
Other Payroll Costs 696 654
Total 146,407 117,588
The average number of staff employed during 2023 is:
Average Head Count - 5 (2022 – 5)
Average Full Time Staff - 4 (2022 – 4)
Average Part Time Staff - 1 (2022 – 1)
Average Full-time Equivalent - 4.5 (2022 – 4.5)

The average number of staff employed during 2023 is:

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West Wickham & Shirley Baptist Church – Annual Report and Accounts

2023

Notes to the Financial Statements For the year ended 31 December 2023

3. Expenditure on charitable activities (continued)

No employees (2022: none) received employee benefits (excluding employer pension costs) of more than £60,000 during the year.

There was no material liability for paid annual leave or sick leave at the end of the reporting period (2022: none), and so no liability has been included in the accounts.

The Church is an employer participating in a pension scheme known as the Baptist Pension Scheme (‚the Scheme‛). The Scheme is a separate legal entity which is administered by the Pension Trustee (Baptist Pension Trust Limited). The Senior Minister and Minister are eligible to join the Scheme, which is not contracted out of the State Second Pension. A detailed description of the scheme’s surplus/deficit and how it affects the charity is provided in note 9.

3b. Analysis of Grants

3b. Analysis of Grants
Grants by Recipient Type Grants by Institution
£ £
Grants to Institutions 3,969 ShirleyNeighbourhood Care 2,170
Grants to Individuals 1,383 Baptist MissionarySociety 647
Total 5,352 George Muller Charitable Trust 520
London Baptist Association 356
Grants by Nature of Activity Pilgrims Hospice 136
£ Shrublands Foodbank 125
Alleviation of Suffering/Poverty 3,829 Other 15
Christian Outreach 1,523 3,969
Total 5,352

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West Wickham & Shirley Baptist Church – Annual Report and Accounts

2023

Notes to the Financial Statements For the year ended 31 December 2023

4. Tangible Fixed assets

Cost or valuation Freehold land and buildings
Church Manse Total
£ £ £
At 1stJanuary 2023 1,602,527 500,000 2,102,527
At 31stDecember 2023 1,602,527 500,000 2,102,527

The capital fund includes the valuation for the church buildings and manse. The church building is included at its 2016 insurance value, while the manse is included at market value. A policy of revaluing the manse every 5 years has been agreed, with the next revaluation due in 2026.

Cost or valuation Equipment, Furniture & Fittings Equipment, Furniture & Fittings
Net Book Value
@ 31/12/2022		 Acquisitions
during 2023		 Depreciation
during 2023		 Net Book Value
@ 31/12/2023
£ £ £ £
Equipment 8,011 7,140 8,164 6,987

22

West Wickham & Shirley Baptist Church – Annual Report and Accounts

2023

Notes to the Financial Statements For the year ended 31 December 2023

5. Debtors and prepayments

2023
£		 2022
£
Prepayments 2,354 0
Other debtors 12,531 6,246
Total 14,885 6,246

Prepayments consists of insurance policies and music licenses incepting in 2023 but covering part of 2024.

Other debtors consist of £12,531 which is tax recoverable £12,027 on Gift Aided donations and £504 which is invoiced charges related to the hire/use of the church building (all received during 2024).

6. Creditors: amounts falling due within one year

2023
£		 2022
£
Loans and overdrafts 0 0
Other creditors 6,221 2,804
Total 6,221 2,804

Other creditors consist of £6,221 representing general purchases of equipment & materials which were purchased in 2023 but for which the invoice was not received, or payment not made, until early 2024 and independent examination fees of £2,050 (covering both 2022 & 2023 accounts).

7. Provisions

Balance brought forward
Deficit contributions made in the year
Interest cost
Remaining change to balance sheet liability
Balance carried forward		 2023
£
2022
£
0
22,601
0
(2,860)
0
423
0
(20,164)
0
0

The provision for pension deficit liability was cleared in 2022. Further information on the pension scheme can be found in note 9.

23

West Wickham & Shirley Baptist Church – Annual Report and Accounts

2023

Notes to the Financial Statements For the year ended 31 December 2023

8. Fund description and movements

8a Unrestricted Funds

Fund Name Balance at 1st Jan
2023
Income		 Expenditure Transfers Balance at 31st
Dec 2023
£ £ £ £ £
Unrestricted Funds 84,115 216,392 201,273 - 99,233
Designated Funds
Plummer Bequest 5,850 - - - 5,850
Global LegacyFund 61,910 - 61,246 - 664
Total Designated Funds 67,760 - 61,246 - 6,514
Total Unrestricted Funds 151,875 216,392 262,519 - 105,748
Unrestricted Funds - Prior Year
Fund Name Balance at 1st Jan
2022
Income		 Expenditure Transfers Balance at 31st
Dec 2022
£ £ £ £ £
Unrestricted Funds 89,036 187,397 192,318 - 84,115
Designated Funds
Plummer Bequest 5,823 750 723 - 5,850
Global LegacyFund 61,910 - - - 61,910
Total Designated Funds 67,733 750 723 - 67,760
Total Unrestricted Funds 156,769 188,147 193,041 - 151,875

The Global Legacy Fund is a fund, created from a legacy left by a church member, which the church used during 2023 to partially fund the replacement of the church heating system and the fit-out of the church coffee hub.

The Plummer Bequest was a gift left to the church which was put aside to support young people from the church who embark on mission training or mission trips.

24

West Wickham & Shirley Baptist Church – Annual Report and Accounts

2023

Notes to the Financial Statements For the year ended 31 December 2023

8. Fund description and movements (continued)

8b Restricted Funds

8b
Restricted Funds
Fund Name Balance at 1st Jan
2023		 Income Expenditure Transfers Balance at 31st
Dec 2023
Restricted Funds
HeatingFund - 26,006 26,006 - -
Coffee ShopDevelopment 12,500 7,125 19,625 - -
BuildingFund 7,130 - 6,313 186 1,003
Mothers & Toddlers 3,158 2,994 4,735 - 1,417
Hub Trading - 3,907 3,317 - 590
Boys' Brigade 2,061 1,284 1,442 - 1,903
FellowshipFund - 500 1,047 1,093 546
Girls' Brigade 229 799 521 - 507
Home Mission 132 224 356 - -
BabyBank - 616 101 - 515
BMS 538 - - - 538
Covid 19 Relief Fund 4,808 - - - 4,808
Other Funds 3,658 2,206 3,751 (1,279) 834
Total Restricted Funds 34,214 45,661 67,214 - 12,661

Restricted Funds – Prior Year

Fund Name
Restricted Funds
Coffee ShopDevelopment
BuildingFund
Covid 19 Relief Fund
Mothers & Toddlers
Boys' Brigade
BMS
Girls' Brigade
Home Mission
NHS Vaccine Centre
Other Funds
Total Restricted Funds		 Balance at 1st Jan
2022

Income		 Expenditure Transfers Balance at 31st
Dec 2022
12,500 - - - 12,500
7,370 - 240 - 7,130
5,528 - 720 - 4,808
2,566 1,773 1,181 - 3,158
1,288 2,490 1,717 - 2,061
- 538 - - 538
474 302 547 - 229
37 132 37 - 132
(185) 8,389 8,204 - -
3,873 4,455 4,670 - 3,658
33,451 18,079 17,316 - 34,214

25

West Wickham & Shirley Baptist Church – Annual Report and Accounts

2023

Notes to the Financial Statements For the year ended 31 December 2023

8. Fund description and movements (continued)

Descriptions of the main restricted funds are as follows:

The Coffee Shop Development fund are monies given specifically toward the Coffee Shop component of the hub development project.

The Building Fund represents funds given specifically for the church building re-development project.

The Boys’ Brigade, Girls’ Brigade and Mothers & Toddlers funds are held separately for the running of each organisation under the auspices of the church.

The other funds (e.g. BMS, Home Mission) represent monies given to the church for other charitable organisations that the church has chosen to support, in response to appeals throughout the year.

During 2023 the surplus funds from the CAP support fund, £1,093, were transferred to the fellowship fund to support small donations to alleviate poverty in the church and community. The surplus funds given to provide a bench at the front of the church, £186, were transferred to the building fund.

8c Capital Fund

8c
Capital Fund
Fund Name Balance at 1st Jan
2023
Income		 Expenditure Revaluation Balance at 31st
Dec 2023
Capital Fund 2,102,527 - - - 2,102,527
Capital Fund – Prior Year
Fund Name Balance at 1st Jan
2022
Income		 Expenditure Revaluation Balance at 31st
Dec 2022
Capital Fund 2,102,527 - - - 2,102,527

The capital fund represents the value of the church properties – the main church buildings on Wickham Road, and the church manse.

26

West Wickham & Shirley Baptist Church – Annual Report and Accounts

2023

Notes to the Financial Statements For the year ended 31 December 2023

9. Pension Scheme

The Church is a participating employer in the Baptist Pension Scheme (‚the Scheme‛), which is a separate legal entity administered by the Pension Trustee (Baptist Pension Trust Limited). The assets of the Scheme are held separately from those of the Employer and the other participating employers.

The Scheme, previously known as the Baptist Ministers’ Pension Fund, started in 1925, but was closed to future accrual of defined benefits on 31 December 2011. Prior to this date the main benefit provided through the Defined Benefit (DB) Plan was a pension of one eightieth of final minimum pensionable income for each year of pensionable service together with additional pension in respect of premiums paid on Pensionable Income in excess of Minimum Pensionable Income.

From January 2012, pension provision is being made through the Defined Contribution (DC) Plan within the Scheme. In general, members pay 8% of their Pensionable Income and employers pay 6% of members’ Pensionable Income into individual pension accounts, which are operated and managed on behalf of the Pension Trustee by Broadstone Corporate Benefits Ltd. In addition, the employer pays a further 4% of Pensionable Income to cover Death in Service Benefits, administration costs, and an associated insurance policy which provides income protection for Scheme members if they are unable to work due to long-term incapacity. This income protection policy has been insured by the Baptist Union of Great Britain with Aviva Limited.

The Scheme is considered to be a multi-employer scheme as described in Section 28 of FRS 102. Because it is not possible to attribute the Scheme’s assets and liabilities to specific employers, the scheme is accounted for as if the Scheme were a defined contribution scheme.

The Ministers are eligible to join the Scheme.

Actuarial valuation as at 31 December 2019

A formal valuation of the DB Plan as at 31 December 2019 was carried out by a professionally qualified Actuary using the Projected Unit Method. At the valuation date the market value of the DB Plan assets was £298 million, whilst the level of assets needed to pay benefits was £316m, giving a deficit of £18m (equivalent to a past service funding level of 94%). The Church and the other participating employers in the DB Plan are collectively responsible for funding this deficit.

27

West Wickham & Shirley Baptist Church – Annual Report and Accounts

2023

Notes to the Financial Statements For the year ended 31 December 2023

9. Pension Scheme (continued)

The key financial assumptions underlying the valuation were as follows:

Type of assumption % pa
RPIprice inflation assumption 3.20
CPIprice inflation assumption 2.70
Minimum Pensionable Income Increase Adjustment(above CPI) 0.50
Pre-retirement assumed investment returns(giltyieldplus 1.75%pa) 2.95
Post retirement assumed investment returns (including beneifts matched by
the insurancepolicy) (giltyieldplus 0.5%pa)
1.70
Minimum Pensionable Income increases(CPIplus 0.5%) 3.20
Deferredpension increases(based on RPI)
Pre April 2009 3.20
Post April 2009 2.50
Pension increases
Based on CPI with an annual floor of 0% and annual capof 5% 2.70

Mortality is assumed in accordance with 80% of the S3NA standard mortality table. Future improvements projected from 2013 in line with the ‚CMI 2019‛ projection with a long-term rate of improvement of 1.75% p.a. for males and 1.5% p.a. for females with the core smoothing parameter and with additional initial mortality improvement factor A=0.5%.

The next actuarial valuation of the DB Plan within the Scheme is due to take place not later than as at 31 December 2022.

Recovery Plan

In addition to the contributions to the DC Plan set out above, where a valuation of the DB Plan reveals a deficit the Trustee and the Council agree to a rate of deficiency contributions from churches and other employers involved in the DB Plan. Following the 2019 valuation a Recovery Plan was signed in September 2020 under which deficiency contributions are payable until June 2026. These contributions were broadly based on each employer's membership at 31 December 2014 and increase annually in line with increases to Minimum Pensionable Income as defined in the Rules.

28

West Wickham & Shirley Baptist Church – Annual Report and Accounts

2023

Notes to the Financial Statements For the year ended 31 December 2023

9. Pension Scheme (continued)

On 30th June 2022 the Baptist Pension Scheme signed an agreement with the insurance company Just Group (‚Just‛) to secure DB Plan members’ pension benefits. Just are now providing financial backing for all pensions provided through the Scheme’s DB Plan and following this transaction, the Scheme no longer has a shortfall. An updated Recovery plan was then signed in August 2022 under which recovery contributions from each participating employer in the DB Plan reduced to £1 per month from August 2022.

Due to the nature of the Scheme, the profit and loss charge to the General fund for the period represents the employer contributions payable plus the movement in the pension provision (excluding the deficit contributions made in the year). For this scheme the pension cost for the Church is £9,023.

10. Related party transactions and trustee’s expenses and remuneration

No trustees were remunerated as part of their role as trustees.

The following trustees were also employed by the church in the following capacities and as such received remuneration as part of their employment:

Mr Jonathan Hills (Senior Minister)

Gross Salary - £35,377

Employer Pension Contributions - £4,489

Was also provided with manse accommodation.

Mrs Sara Kennett (Minister)

Gross Salary (incl. accommodation allowance) - £32,232

Employer Pension Contributions - £3,187

The following close relatives of trustees were employed by the church in the following capacities: Mr Stuart Kennett (Youth Worker)

Gross Salary - £28,252

Employer Pension Contributions - £660

No trustees incurred expenses whilst fulfilling their role as trustees. Three trustees had a total of £287 reimbursed for expenses incurred while on non-trustee church business. These expenses were limited to travel, accommodation, and subsistence.

The trustees made aggregate unrestricted donations totalling £30,975.

29