Charlty reglstratlon number 1171397 STREET BAPTIST CHURCH ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
STREET BAPTIST CHURCH LEGAL AND ADMINISTRATIVE INFORMATION Trusttts P Bryer C Ford J Oubridge Rev T Styles Charty number 1171397 Independent examlner ART Accountants Limiled Ground Flcor 11 Manvers Street BA1 1JQ
STREET BAPTIST CHURCH CONTENTS Page Trustees, report Independent examinels report Stslemenl of finanaal activities Balance sheet Notes lo the financial stslements 6-14
STREET BAPTIST CHURCH TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2022 The Iruslees present Iheir annu81 report and finanaal statements for the year ended 31 Marth 2022. The financial statements have been prepared in a¢cordarKe with the accounting policies sel out in note 1 to the finanaal statèments and comply wrth the charity's Igoveming documenll, the Charits'es Act 2011 and "Accounting and Reporting by Charities.. Slalemenl of Recommended Practs"ce applicable to tharities preparing their accounts in accordance with the Finanoal Reporting Standard applicable in the UK and Republic of Iroland IFRS 1021" (effective 1 January 2019). Objedlves and actlvltles The objectives of the Church are.. The advancement of the Christ¢an Faith in aceordance wth the Basis of Faith, primarily bul not gxclusively wthin Street and the surrourbding neighbouthood- and Such other charitable purposes as shall. in the opInn (if the Members of th8 Church in General Meeting, further the work of the Church. The trustees have pald due regard to guidarKe issued by the Charity Commission in deoding what activities the charity Should undertake. After difficult limes facing the many thallenges that aros8 from Cow¢&19. the Church has been able lo restart all rneelings and activit'es. which indude Toddlers. Children's and Youlh Groups along wlh Fellowship and Prayer meetings. It is very encouraging to have many peoFAe of all ages start lo worship with us. During this past year our community work conb"nued. This work indLKles a Meals on W+eels seNice. Takeaway Meals, Food and Clothing Banks and shower facilities. This work is a tremendous blessing to those in need thin our local area and given us the opportunity to pra¢lically show the love of GThY. The Church continues to work dosety wth Christians Against Povety ICAPI, operating a CAP Debt Centre and running CAP finanual awareness courses. The Church has started to run Alpha courses for t4)th adutts and thildren which have been a great blessing lo many. These courses seek to introduce the b8c5 of the Christian faith through a selle$ of talks arKI discussions. Achlgvements and rfornian¢e Although the Church doe5 not measure the success of its programmes in numbers, membership growth Continues and there is much for us to be thankful for. The Church's vision remains to increase its activities and role vithin the community and look fomard to thi¥ work developing over the next year. Flnanclal revlew It is the policy of th& thartty that unrestricted funds which have not been designated for a speufjc use should be maintained al a level equivalent lo a minimum of three month's expenditure. The trustees considers that reserves al this level wll ensure that, in the event of a signffic8nt drop in funding, they will be able lo continue the charty's ojrrenl activities while consideration is given to ways in %thich addTtional lunds may be raise(l. This level of resgrves has been maintained IhroLuhcJJt the year. Restricted lunds of £1,510,03712021- £1,496.760} were held at the year end. The majority of this is in relation lo donations for the new building. The trustees have assessed the major risks to whith the tharity is exposed, and are satisfied that system¥ are in place to mi(igale exposure to the mar risks.
STREET BAPTIST CHURCH TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022 Structurn. governance and rnanagement The charity is a Charitablè Incorwated Organisation. Thèrè are currendy lour trustees appoint in line with th Constitution. These will comprise Pastorlsl. Church AdmTrnistralor, Church Treasurer and others selected by the Elders and Deacons. The trustees who served during the ygar and up to the date of signature of the finawal statements Welg.. P Bryer M Dukes C Ford J Oubridge Rev T Style5 (Resign 23 May 20211 None of the truslees has any beneficial ivrterest in the o)mpany. of the tnjstees are Thbers of the txjmpany and guarantee to contriiKJte £1 in the evenl of a winding up. Thè trustees mÈel at least on a quarterfy basis an(1 will dis(xJss Ihe financial position of Churth and rewjrts on Health & Safety. Safeguarding. Data Protection togèthèr any Duty of Care issues or Serious IidèntS. The trustees. report vras approved by the Board of TnJ5tees. C Ford Truste8
STREET BAPTIST CHURCH INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF STREET BAPTIST CHURCH I report to the trustees on my examination of the finanrAal ststements of Street Baptist Churth {ihe charrty) for the year ended 31 March 2022. Responslbllities and basis of report As the trustees of the charty you are responsible for the preparation of the financial slatements in accordance with the requirements of the ChantiesAct 2011 (the 2011 Acti. I report in respect of my examination of the chanvs finanuaj statements carried out under section 145 of the 2011 ACL In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145{5llb} of Ihe 2011 Act. Independent examlnerfs statement Your attention is drawn to the fact th81 the charity ha5 prepared finanoal statements in accordatxe with Accounting and Reporting by Charities preparing their accounts in accordance wlh the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 in preference to the Accounting 8nd Reporting by Chantie5.' Statement of Recommended Practice issued on 1 April 2005 whith is referred to in the extant regulations bul has now been draWfi. l understand that this has been done in order for financial statements lo prowde a true and fair view in accordance with Generally Accepted Acc(yJnting Pracb"ce effecbve for rePor¥3 periods beginning on or after 1 January 2015. I have Mpleted my examination. I confim that no matters have come to my attention in connection wth the examination giving me cause lo believe that in any material respect= accounting records wefe not kept in respect of the chanty as required by section 130 of the 2011 Act: or the financial statements do not accord wth those records., or the finanual slalements do not compw vith the applicable requirements conceming 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 wthich is not a matter considered as part of an independent examination. I have no concerns and have eome across no other matters in c¢)nnection with the examination lo which attention should be drawn In this report in order to enae a proper understanding of the financial stslemenls lo be reached. Peter Barton FCCA ART Accountants Llmlted Ground Floor 11 Manvers Street Bath BA1 1JQ Dated..
STREET BAPTIST CHURCH STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2022 Unrestricted Restrictgd funds funds 2022 2022 Total Unrestricted Re5trJctgd funds funds 2021 2021 Total 2022 2021 Notes Donations and legacies Investments 146.223 33,938 180.161 169.534 27.344 196,878 12 Total Income 146.230 33,938 180.188 169.543 27,347 196,890 Charitable activities 148.179 20.661 168.840 145,831 7,626 153,457 Nat laxpendFtur•Vln¢ome for the yearl Net mov•mgnt In funds {1,949} 13.277 11.328 23.712 19,721 43,433 Fund balances at 1 Awtl 2021 884,804 1.496,760 2.381.564 861,092 1,477.039 2,338.131 Fund balances at 31 March 2022 882,855 1.510,037 2.392,892 884,804 1.496.760 2.381,564 The statemènt of financial a¢bvhies includes all gains and losses recoJnised In the year. All income and expenditure derive from continuing athities.
STREET BAPTIST CHURCH BALANCE SHEET AS A T 31 MARCH 2022 2022 2021 Fixed assets Tangible assèts Current assets Debtors Cash at bank and in hand 2.285,0 2.285,000 10 5.557 112.792 2.597 100.219 118.349 Creditors: amounts falling dug wlthin ong year 102.816 11 110,457} (6,2521 Net currant assets 107,892 96,564 Totsl assets l•ss current Ilabilrli•s 2.392,892 2.381,564 CapStal and incomè lunds Building capital fund Othèr restricted lunds 1.470,583 39.454 1,470,583 26,177 f 2 1.510,037 Unrestricted funds Designated funds.. Missionary Support 1.496,760 19.314 13.782 18.344 17,404 13 General unrestricted funds Revaluation reserve 35,748 34,639 814.417 35.342 814,417 882.855 884,804 2,392,B92 2.381,564 The financial stataments werè apwoved by the Tnjstees on P Bryer TfUSt•& C Forij Trust•e
STREET BAPTIST CHURCH NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 Accountlng pollcles Charlty inforniatlon Street Baptist Church is g Charitable Incorporated Oroanisab"on. 1.1 A¢countlng conventlon The financial slalements have been prepared in accordance with the charitys tgoveming documentl, the Charities Ad 2011, FRS 102 "The Finanoal Reporting Standard applicable in the UK and Republic of Ireland" I'FRS 102.1 and the Charities SORP "Accounting and Reporting by Charities.. Statement ol Recommended Practice applicable lo charitres preparing their accounts in accordance with the Financial Reporti'ng Standard applicable in the UK and Republic of Ireland IFRS 102)" (effective 1 January 20191. The charity 18 a Public Benefft Entity as defined by FRS 102. The chanty has taken a(fvanlage of the provisions in the SORP for charitfes nol lo prepare a statnent of Cash Flows. The financial statements have departed from the Charities (Accounts and Reportsl Regulations 2008 onty to the extent required to provide a true and fair vi. This departure has involved following the Stslemenl of Recornmended Practice for charitses applying FRS 102 rather than the version of the Statement of Recommended Practice whith is refeThed lo in the Regulations bul sthich has Sin l)een wlhdrawn. The finanaal statements are prepared in slerting, vthich is the funcbonal currency of the chartty. Monetary amounts in those financial stslemenls are rounded to the nearest £. The financial slalements have been prepared un¢Jer the historical cost convention. Imodffied to include the revaluation of freehold propertj.es and lo inctude investment properties and certain finanual instrlmenls al fair valuel. The principal aecounling policies adopted are set out below. 1.2 Golng concern Al the time of approving the finanual statements, the trustees have a reasonable expectation that the charity has adequate resources lo continue in operational existence for the foreseeable ftjlure. Thus the tleeS continue to adopt the going concem basis of aoUnting in preparing the finanual 81atements. 1.3 Charltable funds Unrestricted fvnds are available for use at the disuetion of the twstees in furth8rance of their Charitable objectives. Restricted fvnds are subject to specrfic corKlitions by donors as to how they may be used. The purposes and uses of the restricted fiJnd$ are set out in the notes to the finanoal statements. Endowment funds are subject lo specifjc CndItIonS by donors that the capttal must be maintsined by th8 charity. 1.4 Income Income 1$ cOgnised when the tharity is legally entitled to il after any perfomartce conditions have been mel, the amounts can be measured reliably. and it is prctsble that ino)me wll be received. Cash donats.ons are recognised on receipt. Otrber donations are recognised once the charity has been notrfied of the donation, unless perfomwnce condthons require deferral of the amount. Income lax recoverable in relation to donat'ons received under Gift Aid or deeds of covenant is recognised 8t the time of the donation. Legacies are regnised on receipt or othewse if the charity has been notified of an impending distribution. the amount is known. and receipt is expected. If the amount is not known. the legacy is treated as ¢ontinyenl at.
STREET BAPTIST CHURCH NOTES TO THE FSNANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022 Aecountlng pollcles Icontlnuedl 1.$ Expendlture Liabilities are recognised as soon as there is a legal or construclive obligation ¢ommitting the tharity lo pay out resources. 1.6 Tanglble fixgd assets Tangible fixed assets are initially measured at CO8t and subsequenuy measured at cost or valuatior¢, net of depreciation and any impairment losses. Depreciation is recognised so as to off the cost or valuation of assets less their residual values over their useful lives on the followng bases". Freehold land and buildings Not depreciated The gain or loss arising on the disposal of an asset is detennined as the dffterence between the sale proceeds and the carying value of the as, and 13 recognised in the statement of finarKial activitfe8. 1.7 Impalmient of fixed assets Al each reporting 8nd date, the charity reviews the carrying amounts of its tsngible assets to delemiine whether there 13 any indication that those assets have suffered an impairment loss. If any such indulion exists, the recoverable amount of the asset is estimated in order lo determine the extent of tho imFoimi&nt loss lif any). 1.8 Cash and cash 8qulvalents Cash and cash equivalents include in hand, dep)sits held at call banks. other short-tem liquid nveslmenls with original maturities of three months or less. and bank overdrafts. Bank overdrafts are shown thin borrowngs in current liakn"lities. 1.9 Flnanclal instruments The charity has elected to appty the provisions of Section 11 'Basic Financial Instruments, and Section 12 'Olher Financial Instruments Issues. of FRS 102 to all of its finanoal instrument8. Financial instruments are recognised in the balance sPfftt wthen the chanty becomes paty lo the contractual provisions of the instrument. Financial assets and liabilities are offset. the net amounts presented in the finanryal slatemenls. when there is a legalty enforceable right to set off the iecognised amounts and there is an intention lo settle on a nel basis or to realise the asset and settle the liability simultaneously. Bas1¢ financlal assets Basic financial assets, which i[lde (lebtors and cash and bank balances, are initially measured at transaction price induding transaction costs and are subsequently carried at amorti$ed cost using the effective interest method unless the arrangement constitutes a finanang transacaion, where the transaction is rneasured al the present value of the fuiure receipts discounted at a market rale of interest. Finanryal assets classified as receivable within one year are Th)t amortised.
STREET BAPTIST CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022 Ac¢ountlng policies Icontlnuèdl Basic flnanelal liabilities Basie financial liabil(ties, induding credrtors and bank108ns are initialty recognised at transaction price unless the arrangement constrtutes a fin8nang transaction. vthere the debl instrument is measured at the present value of the future payments discounte¢J al a market rale of interest. Finanryal liabilfties dassifted as payable within one year are not amortised. Debt instruments are subsequenty carried at amorbsed cost. ng the effective interest rate methtxl. Trade creditors are obligations to pay for go(Kls or Servi that have been acquired in the Ordin course of operations from suppliers. Amounts payable are dasstfied as current liabilitie5 if payment is due wthin one year or less. If not, they are presented as non-ojrrent liabilf(ies. Trade creditors are recognised initially al transaction price and subsequenty measured at amortised cost Ung the effecbve interest method. Derneognftlon of Ilnancial Ilabllftles Financial liabilities are dereeognised when the charity's contractual obligation¥ expire or are discharged or cancelled. 1.10 Employge beneflts The cost of any unused holiday entillemenl is recognised in the period in which the employee's ¥ervices are received. Tefmination benefits are renised immedialety as an expense V•hen charity is demonstrabty committed lo lemiinate the employment of an employee or to prowde tetmination benefits. 1.11 R•tlrement b•neffts Paymgnts to defin•d contribution retirem¢nt bonefft Gthemes are charged a3 an expense as they fall due. Crttl¢al ac¢ountlng estlmates and Judgemgnts In the application of the charity's accounting policies. the trustees are required lo make judgements, estimates and assumptions about the carying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered lo be relevant. Actual results may differ from th&se e5timales. The estim8tes and undertyFng assumpts'ons are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in sthich the estimate is sed Whe the revision affects cnly that period, or In the period of the revision and future periods vthere Ihe revlsion affgcts both current and future periods.
STREET BAPTIST CHURCH NOTES TO THE FINANCIAL STATEMENTS ICONTINUED) FOR THE YEAR ENDED 31 MARCH 2022 Donatlons and logacles Unrestrlcted Restrfcted funds lunds Total Unrestricted Restricted nds fund8 Total 2022 2022 2022 2021 2021 2021 Donations and gifts 146,223 33.938 180.161 169,534 27.344 196,878 Donatlons and glfts Offèrings GiftAid Refvnd Gift Day Support Fund Missionary Other Gift8 Camp Communty Meals Street Community Support GTOUP 111,267 24.472 745 305 22,426 1,683 133,693 26.155 745 305 114.583 22.721 18,255 1,600 132,838 24.321 30.812 30,812 720 1,418 139 4,601 720 9.434 9.434 1,418 f39 4,601 9,829 9.829 2.029 2.029 146.223 33,938 180,101 169,534 27.344 196,878 Invgstments Unrestricted Unrestricted funds funds Restricted funds Total 2022 2021 2021 2021 Interest receivable 12
STREET BAPTIST CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022 Charltable actlvltles 2022 2021 Staff costs- Ministry Ministry Property Costs Restricted Fund ExperKliture (see note 121 Speakers and Gifts Eledric and Gas Insurance Mainten8nce IT and AV Costs Office Costs Cleaning and Kitthen Legal and Professional Fees Subscriptions and Licen Other Expenses Community Outreach Support Fund 32,488 36,477 20.661 1,240 6.404 2.050 4,979 5,084 6,536 4.798 52,556 5,549 7,828 615 6,968 1,99S 1,372 2,235 2,755 3,985 1.170 4.926 3,680 5,669 6.152 4.552 4.000 13,408 141.090 113,507 Missionary Share of govemance costs {8ee note 6) 26,850 900 39,050 900 168,840 153.457 Analysls by fund Unrestricted funds Restricted funds 148.179 20.661 145,831 7,626 168,840 153,457 Support costs Support Governance costs costs 2022 2021 Independent Examination 900 900 900 900 900 900 Analysed batren Charitable activities 900 900 Govemance msts indudes payments to the independent examiner Of£9 {2021- £900). 10-
STREET BAPTIST CHURCH NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022 Trust808 Rev T Styles, was a trustee for the year and received aggiegated remuneration during this lime of £29,730 12021 £36.5751 for services as a Pastor lo the Churth_ PTopety eosls assoaaled this employment of £32,59312021- £5,549) were also paid. Employèes The average monlhty number ofemployee$ during the year was.. 2022 Number 2021 Number Ernploymènt ¢o$ts 2022 2021 Wages and salaries Social security Costs Other pension costs 29,511 235 2.742 51,297 177 1,082 32.488 52.556 There were no employees whose annual remuneration was more than £60.000. 11
STREET BAPTIST CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022 Tangible flxed assets Freehold Thd and bulldlngs Co$t or valuatlon Al 1 April 2021 2,285.000 Al 31 March 2022 2.285.000 Carrylng amount At 31 March 2022 2,285,000 At 31 March 2021 2,285,000 Land and buildings wth a c8rrying amount of £2,285,000 were revalued at 9 June 2020 by Cooper and Tanner, independent valuers not connected wth the chanty on the bags of market value. The valuation confonns to Intematronal Valuation Standards and was based on recent market transactions on am's length lemis for similar properties. At 31 March 2022, had the revalued assets been carried at histon"¢ cost less aMulated depreualion and accumulated impairnienl losses. their carrwng amount would have been approximately £0 12021 £1,470,583). The original cost of the church building in 1814 is unknown as is the new h811 built in 1968169. Thlh the completion of building works in Jate 2019 the restrictod expenditure for this ha¥ now been capaliSed under tsngible fixed assets. As mentioned above the Trustees have rtrow obtained a cuent valuation Of the propety in order to carry the freehold proFerty at market valuation. The thurch replaced FIEC a8 Holding Trustee of the propety In February 2019. 10 Debtors AnUnts falllng dug wlthln one year: 2022 2021 Other debtors 5,557 2.597 11 Cr•dltors: amounts falllng due Twlthln one year 2022 2021 uals and deferred income 10,457 6.252 12-
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STREET BAPTIST CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022 14 AnalysL8 of net assets betwgen funds Unrè8trf¢ted Restricted 2022 2022 Total Unrestrided 2022 2021 Restricted 2021 Total 2021 Fund balances at 31 March 2022 are represented by". Tangible assets Current asselsllliabilitres) 814,417 68.438 1,470,583 2.285,000 39.454 107,892 8f4,417 70,387 1.470.583 26.177 2,285,000 96,564 882,855 1.510.037 2.392.892 884,804 1.496.760 2.381,564 15 Related party transactions There were no disdosable related paty transactions during the year. 14-