Charity Registration No. 1171397 STREET BAPTIST CHURCH ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021
STREET BAPTIST CHURCH LEGAL AND ADMINISTRATIVE INFORMATION Trusteès P Bryer C Ford J Oubridge Rev T Styles IAppointed 13 October 20201 (Appointed 1 January 20211 Charity numbor 1171397 Independènt examiner ART Accountants Limited Gro7und Floor 11 Manvers Street Bath BAI 1JQ
STREET BAPTIST CHURCH CONTENTS Page Trustees. report Independent examinerfs ieport Statèment of financial actiwties Balance sheet Notes lo the financial statements 6-14
STREET BAPTIST CHURCH TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2021 The Iruslees present their report and finanaal statements for the year ended 31 March 2021. The financial statements have been prepared in accordance the accounting policies set out in note 1 to the financial statements and comply wth the chanty's goveming document. the Chaflties Aet 2011 and "AGcounling and Reporting by Charitiès.. Stslement of Recommended Practice applicable to charities preparin9 their accounts in accordance wth the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102}. las amended for aGcounb"ng pericx1s commenang Irom 1 January 20181 Objectives and activities The objectives of ihe Church are.. The advancement of the Christian Faith in accordance with the Basis of Faith, primarily but not exclusively within Street and the surrounding neighbourhood". and Such other charitable purposes as shall. in the opinion of Ihe Members of the Church in General Meeting, lurther the work of the Church. The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake. The Church has faced the many challenges arising from Cow(F19 and consislenlly operated within the Govemmenl regulations and guidelines. Sadly m051 group meetings and activities have had to slop over the past year but, with the benefit of OUT new building. we have been able to hold Sunday morning Worship Services when pemirtted. WÈ now look to restart all our meetings and activities. which indude Toddlers, Children's and Youth Group5 along with several Fellowship and Prayer meetings. During this past year our community work has contrnued and expanded_ As well as offering a Mea15 on heels service, we have been in a position to add Takeaway Meals. Food and Clothing Banks and shower facilities. All this has proved to be a tremendous blessing to those rn need wthin our local area and given us the opportunily to practically show the love of God. The Church continues lo work c105ely vAth Christians Against Povety ICAPI. operating a CAP Debt Centre wth CAP financial awareness courses planned lo restsrt soon. We have also joined CAP'5 Fresh Start initiative to help people break free Iiom life controlling habits like drinking. smoking, gambling or intemet addictions. Aehievèments and perfomiance Although the Church does not measure the suc¢e55 of rts programmes in numbers, mèmbership continves to grow and, despite Covid-39, there is much for us to be thankful for. The Church's goal remains lo In¢aSe its activittes ar role wthin the community and we look forward Its this work developing over the nexi yèar. Financial rèview 11 is the policy of the tharity that unrestricted funds which have not been desTgnaled for a specific use should be maintained al a level equivalent to a minimum of three month's expenditure. The trustèes considers that reserves al this level will ensure that, in the event of a significant drop in fvnding, they will be able to continue the charity's ¢urTent activities while consideration is given to ways in 1¢h additional funds may be raised. Thi5 level of reserves has been maintained throughout the year. Restricted funds of £1.496,760 12020 - £1.477.0391 were held at the year end. The majority of this is in relation t¢ donations for the new building. The trustees have assessed the major risks to vknich the charity is exposed, and are satisfied that systems are in place lo mi119ale exposure to the major risks.
STREET BAPTIST CHURCH TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021 Structure. governance and managoment The charity is a Charitable Incorporated organisan. There are four trustees appointed in line with the Constitution. These will compnse Pastor(sl, Church Administrator. Church Treasurer and others selected by the Elders and Deacons. The Iruslees who served during the year and up to the date of signature of the finanaal statomenls were.. P Bryer Dukes C Ford M Neal Rev D Hills J Oubridge Rev T Styfes (Restqned 23 May 20211 {Resigned 20 Juty 20201 {Resigned 31 December 2020} (Appointed 13 October 20201 IApw)inled 1 January 2021) None of the trugts•s hag ony benefKial interest in the company. All of the truste8s are members of the company and guarantee to contribute £1 in the event ol a winding up. The trustees meet at t on a quarterty basis and 11 discuss the financial posthon of the Church and report8 on Heatth & &ety, Safeguarding. Data Protectton together with any Duty of Care issues or Serious Incidents. The trusl89s' report was approved by the 8oaftl ofTrustees. C Ford Trustee
STREET BAPTIST CHURCH INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF STREET BAPTIST CHURCH I report to the trustees on my examinatson of the financial statements of Street Baptist Church (the chanlyl lor the year ended 31 March 2021. Rosponsibilities and ba$is ol r•port As the trustees of thè charity you are responsible for the preparation of the financial statemen15 in accordance wlh the requirements of the Charrties Act 2011 lthe 2011 Act). I report in respect of my examinatson of the charity's financial statements carried out under seetitsn 145 of the 2011 Act. In carrying out my examinats.on I have followed all the applicable Directions given by the Charity Commission under section 14515llbl of the 2013 Act. Ind•pèndent examiner's statement Your attention is drawn lo the faGt that the chanty has prepared financial statements in accordance wrth Accounting and Reporting by Charities preparing their accounts in accordance wlh the Financial Reporting Standard applicable in the UK and Republic ot Ireland IFRS 102} in preference to the Accounting and Reporting by Charities.. Slalement of Recommended Practice issued on 1 April 2005 vthich is referred lo in the Èxtant regulations bLrt has now been wthdrawn. l understand that this has been done in order for financial statements to provide a true and fair view in accordance wth G¢nerally Accepted Accouftting Praciice eifeGtive for reporbng pericH1s beginning on or after 1 January 2015. I have completed my examination. I nfirM Ihat no matters have Come to my attention in Connection wlh Ihe examination giving me cause to believe that in any material respe¢t". a¢countin9 rècords weie not kept in respect of the charity as required by seGtion 130 of the 2011 A¢l". or the financial statements do not accord wth those records". or the financial statement5 do not comply the applieable Tequirements conceming the lomi and content of accounts set out in the Charities (Accoun15 and Reports) Regulations 2008 other than any requirement that the accounts give a twe and fair wew which 1$ not a matter conSided a5 part of an independent examination. I have no concem5 and have come a¢r05s no other matters in connection 7th the examination lo which attention should be drawn in Ihis report in order to enable a proper understanding of the financial statements to be reached. Peter Barton FCCA ART Accountants Limited Ground Floor 11 ManveTS stet 8alh 8A1 1JQ Dated..
STREET BAPTIST CHURCH STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2021 Unrestricted Restricted fvnds funds 2021 2021 Totsl Unrèstrided Restricte funds ftJnd5 2020 2020 Total 2021 Notes 2020 ncom from= Donations and legacles Investments 169,534 27,344 196.878 12 174,049 49 113.210 96 287,259 145 Totsl incomg 169.543 27,347 196.890 174,098 113.306 287,404 endi Charitsble activities 145.831 7,626 153.457 127,344 431.326 558.670 Gross transfers between fund5 Net incomlnglloutgoingl resourGes 162,5001 62.500 23,712 19,721 43.433 {15.746} 1255.5201 1271.2661 Other recogni58d galns and losses Revaluation of tangible fixed a55ets 814,417 1,470.583 2.285,000 Net movem•nt in funds 23.712 19.721 43.433 798,671 1,215,063 2.013,734 Fund balances al 1 Ap1 2020 861,092 1.477.039 2.338.131 62.421 261.976 324.397 Fund balan¢es at 31 March 2021 884,804 1,496.760 2,381.564 861.092 1.477,039 2.338.131 The statèment of financial acb"vibes includes all gains and losses cOgnised in the year. All income and expenditure derive from continuing activitie5.
STREET BAPTIST CHURCH BALANCE SHEET AS AT 31 MARCH 2021 2021 2020 Flxed assets Tangible assets Current assets Debtors Cash al bank a1 in hand 2.285.1))) 2.285.000 10 2.597 100.219 4.679 49.352 Cl1t0r$. amounts falllng within One y•ar 102.816 54.031 11 16.2521 I10) Nèt ¢urr8nl assats 53,131 Total assetsloss curront Ilabilltlos 2.381.564 2.338,131 Caphal and Incom• funds Building capital fund Other reslrict8d ndS 1.470.583 26.1TT 1.470,583 6,456 12 ric fun Designatèd fLbnds.' Missionary Supwort 1.496,760 1.477,039 18,344 17.404 28.746 13 General unrestrieted funds R&valuation resorve 35.748 34.639 814.417 28,746 17,929 814,417 884.804 861,092 2.381.564 2.338,131 The finandal statements were approv8d by Trustees ......... .......... ... P Bryer Trustee C Ford Trustse
STREET BAPTIST CHURCH NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 Accounting policles Charlty infomiatlon Street Baptist Church is a Charitable Incorporated Organisation. 1.1 Accounting convention The financial statements have been ppared in accordance wth the charity's constitution, the Charities Act 2011 and "Accountin9 and Reporting by Charits"es." Statement of Recommended Practice 3pplicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicablè in the UK and Republic of Ireland IFRS 1021" las amended for accounting periods commencing from 1 January 20161. The charity 15 a Public Benefit Enlrty as defined by FRS 102. The charity has taken advantage of the provisions in the SORP for charibes applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows. The financial stslements have departed from the Charities (Accounts an¢J Reports) Regulations 2008 only to the extent required lo provide a true and fair view. This departure has involved following the Stalernenl of Recommended Practice for charitie5 applying FRS 102 rather than the version of the Statement of Re¢ommended Pra¢b"ce which is terred to in the Regulations but which has since Oeen withdrawn. The financial statements are prepared in sterling. which is the functional currency of the charity. Monetary amounts in these financial stslements are rounded to the nearest t. The financial statements have been ppared under thè historical cost convention. modifièd to include the revaluation of freehold properties and to indude investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below. 1.2 Golng concèrn Al the lime of approvtng the financial stslemenls, the trustees have a reasonable expectation that the charity has adequate resources to continue in operats.onal existence for the foreseeable future. Thus the trustees continue to adopt Ihe going concem basis of accounting in preparing the financial slatemenls. 1.3 Charitable funds Unrestricted funds are available for use at the dIsC"0n of the trustees in fvtherance of their charitable objectives. Restricted ftjnds are subject to specffi¢ cOnd.0nS by donors as to how they may be used. The purpose5 and uses of the restricted fijnds are sel out in the notes to the financial statements. Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity. 1.4 Income Income is recognised when the charity is legally entstled lo it after any performance condibons have been mel, the amounts can be measured reliably, and it 15 probable that income wll be received. Cash donations are recognised on receipt. Other donation5 are recognised once the charity has been notified of the dtsnabon, unless perforniance condib.ons require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant 15 recognised at the time ol the donation. LegacAes are re¢ognised on rèceipt or otherwise if the charity has been notified of an impending dislribulion, the amount is known. and receipt is expected. If the amount is not known. the legacy is treated as a contingent asset.
STREET BAPTIST CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021 Accounting poll¢les Icontinuèdl 1.5 Expgnditur8 Liabilitie5 are recognised as soon as there is a legal or ¢onstructive obligation committing the Gharity to pay out resources. 1.6 Tangiblè fixed as$ets Tangible fixed assets are initialty measured at cost and subsequenuy measured al cost or valuation, nel of depreciation and any impairment losse5. Deprectation is recognised so as lo wite off the ¢osl or valuats.on of assets less their residual values over their useful lives on the following base5'. Freehold land and buildings Not depreciated The gain or 105s arising on the disposal of an asset is delerniined as the drfference between the sale proceeds and the carrying value of the asset, and is recognised in net incomellexpendilurel lor the year. 1.7 Impalrment of fixed assets Al each reports'ng end dale, the charity review5 the carrying amounts of rt5 tangible assets lo determine whether there is any indication that those assets have suffered an impairmentltsss. 11 any such indication exists, the recoverable amount of the asset 15 estimated in order to determine the extent of the impairment loss lif any). 1.8 Cash and cash equivalents Cash and cash equivalents include cash in hand, deposits held al call wth banks. other short-term liquid investments with original maturities of three months or less. and bank overdtafis. Bank overdrafts are shown wlhin borTowngs in current liabilities. 1.9 Flnancial Instruments The charity h35 elected lo apply the provisions of Section 11 'Basic Financial Instruments. and secb.on 12 'Other Financial Instruments 15sues' of FRS 102 to all of ils finanoal instruments. Financial instruments are recognised in the charity's balance sheet when the charity becomès paty to the contractual provisions of the instrument. Financial assets and liabilities are offset, wth the net amounts presented in the financial statements. when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a nel basis or lo realise the asset and settle the liability simultaneously. Basic financial assets Basic financial assets, which include debtors and cash and bank balances. a initially measured al transaction price including transaction costs and are subsequently carried at amortised cost using Ihe effective inleresl method unless the arrangement conslilutes a financing transaction, where the transaction 13 measured at the present value of the future receipts dis¢ounted al a market rate of interest. Financial assets elassified as receivable within one year are not amorbsed.
STREET BAPTIST CHURCH NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021 Accounting pollci8¥ Icontinuèdl Basic finan¢ial liabilitles Basic financial liabilities. including creditors and bank loans are initially recognised al transaction price unless the arrangement consb"lules a financing transaction. where the debt Tnstrumenl is measured at the present value of the future payments discounted at a mathet rate of interest. Finan¢ial liabilities classified as payable within one year are not am0Sed. Debt instruments are subsequenuy ¢airied at amortised cost, Using the effective intere51 rate method. Trade creditors are Dbligalions to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounls payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non<urrent liabilib"es. Trade creditor5 are recognised initially al transaction price and subsequently measured at amorbsed cost using the effeciive interest method. Derecognition of financial liabilities Financial liabilities are derecognised when the charity's contractual obligations expire or are discharged or cancelled. 1.10 Employee benefits The cost of any unused holiday enfjdement 15 recognised irb the period in vthich the employee's services are received. Termination benefits are recognised immediately as an expense when the Gharity is rlemonstrably committed to terminate the employment of an employee or to provide temiin3b.on benefits. 1.11 Retirement nefitS Payments to defined contribution retirement benefft schemes are charged a5 an expense as they fall due. Crlllcal accountin9 estimates and judgements In the application of the charity's accounting policies, the Iruslees are qUired to make judgements, estimates and assumption5 about the carying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumpkn'ons are based on hisloriGal experience and other factor5 that are considered lo be relevant. Actual results may drffer from these estimates. rhe estimates and underfying assumpts'ons are reviewed on an ongoing basis. Revisions to accounting è51imates are recognised in the peri¢xl in which the estimate is revised where the Tevision affects only that period. or in the period of the rewsion and future periods where the revision affects both current and future periods.
STREET BAPTIST CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED FOR THE YEAR ENDED 31 MARCH 2021 Donations and lègacies Unrestricted Restrtctsd lunds funds Totsl Unrestricted Restrieled lunds fvnds Total 2021 2021 2021 2020 2020 2020 Donations and gift5 169,534 27.344 196.878 174,049 113,210 287,259 Donation5 and gifts Offerings Gift Aid Refvnd Support Fund Missionary Other Gifts Camp Holiday Bible Club Community Mea15 Street Community Support Group 114,583 22.721 30.812 18.255 1.600 132,838 24.321 30.812 720 1.418 139 118,807 50.773 76.774 29.717 195.581 80.490 720 688 688 4.469 5.491 540 1,418 4,469 139 5,491 540 4.601 4.601 2,029 2.029 169.534 27.344 196,878 174,049 113.210 287.259 Invèstments Unrestrict¢d Rèstricted funds funds Total Unrestricted Restricted funds fun¢Js Total 2021 2021 2021 2020 2020 2020 Interest receivable 12 49 96 145
STREET BAPTIST CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021 Charltable a¢tiviti•s 2021 2020 Staff costs- Ministry Ministry Piopety Costs Restricted Fund Expenditure (see note 10) Speakers & Gifts Electric and Gas Insurance Maintenance Children and Youth Books and Literature Cleaning and Kitchen Legal and professional fee5 Subscriptions and Licences Other Expenses Brookside Hire Community Outreach Support Fund 52,556 5,549 7,626 615 6.968 1,996 1,372 649 800 3,985 1.170 4.926 7,221 46.499 14.805 431,326 1.310 7.763 1,934 2,859 1,594 247 6.213 4,868 7,326 2.172 4,755 1,319 4.666 13.408 113,507 534.990 Missionary Share of governance cosls {see note 6) 39,050 900 21,880 1,800 153.457 558,670 Analysis by fijnd Unreslricled funds Reslricted funds 145,831 7,626 127.344 431.326 153,457 558,670 10-
STREET BAPTIST CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021 Support costs Support Governance costs costs 2021 Support Govemance costs costs 2020 Independent Examination 900 900 1,800 1,800 900 900 1,800 1.800 Analysed beeen Charitable activities 900 900 1,800 1.800 Govemance costs includes payments lo the independent examiner of £900 12020 - £1,800). In 2020 accruals were made for the fir51 time ressjlting in a further one-tsff charge of £900 to governance costs. Trustees Mr M Neal. Rev D Hills and Rev T Styles. were all trustees for pafl of the year and received aggregated remunerats'on during this lime of £36,57512020 - £40.2501 for se1$ as Pastors to the Churth. Property sls associated wrth this employment of £5,54912020- £14,805) were also paid. Employees The average monlhty number of employees during the year was". 2021 Number 2020 Numbor Employment costs 2021 2020 Wages and salaries Social security Costs Other pension wsls 51,297 177 1,082 46,209 290 52.556 46.499 11
STREET BAPTIST CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021 Tanglble fixed a$sets Freohold land dnd buildlngs Cost or valuation At 1 April 2020 2,285,000 Al 31 March 2021 2.285,000 Carrying amount At 31 March 2021 2,285.000 At 31 March 2020 2.285,000 Land and buildings a carying amount of £2.285.000 were ievalued al 9 June 2020 by Cooper and Tanner, independent valuers not connected 1th the charity on the basis of market value. The valuation conforms lo Intemalional Valuation Standards and was based on recent market transactions on arm's length terms foi similar Properties. Al 31 March 2021, had the revalued assets been carried al historic cost less accurnulated depreciation and accumulated impairment losses. If>eir carrying amount would have been approximately £1.470,583 12020 - £1,470,5831. The original cost of the church building in 1814 15 unknown as is the new hall built In 1968169. With the completion of building works in late 2019 the restricted expenditure for this has now been capitalised under tangible fixed asset5. As mentioned above the Trustees have now obtained a current valuation of the property in order to carry Ihe freehold propety al marf(el valuation. The Ghurch replaced FIEC as Holding Trustee of the property in February 2019. 10 Debtors Amounts falling dug withln one year: 2021 2020 Other debto 2,597 4,679 11 Creditors- amounts falling due within on8 year 2021 2020 Accruals and deferred income 6,252 900 12-
STREET BAPTIST CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021 12 Rèstricted funds The capital and income funds of the charity include restricted funds comprising the followng balances of donations and grants held for specific purp05es'. Movèment in funds Incoming R•sourc85 Balance at resources expènded 31 March 202I Funds Introdu¢ed Missionary Street Communty Support Group Holiday Bible Club Camp Community Meals Building income fur Building capitsl fvnd 720 2.029 17201 (2.0291 {1551 1521 14,6011 1691 283 1,862 128 1.949 139 4,601 19,858 4.311 1.470.583 24.100 1.470.583 1,477,039 27.347 17.6261 1,496,760 13 Deslgnated fijnds The income funds of the charity include the lollowng desi9naled fvnd5 which have been sel aside out of unrestiiGted funds by the trustees for specific purposes.. Movement in funds Incomlng R&sourcoS 8al•nce at sou8 expofbded l Aprll 2020 Movement in fund Incomlng Resources alancp at rosoUe5 expondtd 31 March 2021 1 Aprfl 2019 Missionary Support 14.455 36.171 121.8801 28.746 28.648 30,812 139,0501 113,4081 18.344 17.404 14.455 36,171 121,8801 28,746 59,460 152.4581 35,748 14 Analysis of net assots betweèn funds Unrèstricted Restricted 2021 2021 Totsl Unrestricted 2021 2020 Restricted 2020 Total 2020 Fund balances at 31 March 2021 are represented by". Tangible assets Current asset 814,417 1,470.583 2.285,000 814.417 1.470.583 2,285,000 70.387 26,177 96.564 46.675 6,456 53.131 884.804 1,496.760 2.381.564 861.092 1.477.039 2,338, 131 13-
STREET BAPTIST CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021 15 Relat8d paty transa¢tions The were no disdosable related paty transacb.ons during the year. 14-