REGISTERED CHARITY NUMBER 1172790 Frampton Park Baptist Church Dormant Accounts For the Year ended 31st December 2022
Contents of the Dormant Accounts for the Year ended 31SI December 2022 Contents Reference and Administrative Details..................... Report of the Trustees............................................ Balance Sheet...............................,......................... Notes (Reason for Dormant Accounts}....................................................................
Fram ton Park Ba tist Church Reference and Administrative Details REGISTERED CHARITY NUMBER 1172790 TRUSTEES R Bowman T Allen K R Williams A M Newby PRINCIPAL ADDRESS Frampton Park Baptist Church Frampton Park Road London E9 7PQ
Fram ton Park Ba tist Church Re ort of the Trustees for the Year Ended 31st December 2022 The trustees present the dormant accoiints report of the Charitable Incorporated Organisalion ICIOI for the Year ended 31 sl December 2022. The trustees are fulfilling the charities requirement for the provisions of Accounting and Reporting by Charities. OBJECTIVES AND ACTIVITIES Objectives and aims Purpose The Church's principal purpose 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 andlor other parts of the World. Objectives The Church is consliluled as a Baptist Church, as staled above. Frampton Park Baptist Church seeks lo be an active Christian community bringing Christian witness and care lo our part of Hackney. The Church also acknowledges ils Christian responsibilities beyond the local community and seeks to engage in both national and international situations. Public benefit Trustees have taken account of the Charity Commission's general guidance on public benefit when reviewing aims and objectives and in planning future activities.
Fram ton Park Ba tist Church Balance Sheet for the Year Ended 31$1 December 2022 2022 2021 Net assets Reserves
Fram ton Park 8a t15t Church Notes Reason for Dormant Accounts Deferred Debt Arrangement On the 24th May 2022 Baptist Pension Trust Limited (the Trustee) and Frampton Park Baptist Church (the deferred employer) entered a 'Deferred Debt Arrangernenl" The agreement enables Frampton Park Baptist Church to defer the debt of £114,000 incurred by a "employment cessation-event.. The Church continued to pay Deficit Recovery Contributions which was previously £307 per month. That plan was to continue paying this amount until such a lime as it either chooses lo trigger a cessation event and settle the debt payable based on the scheme funding position at that time, or the Scheme is lully funded. The Recovery Plan was currently in place and working towards this being the case in 2026., however, this was not guaranteed and while the Church remained as a participating employer, it retained responsibility for Scheme deficit funding. There was an expectation that due lo the improved funding position of the scheme since the cessation event, the deficit liabilily which would be brought forward and recalculated based on Ihe current position will have reduced. This pension debt came to our notice just after registering as a Charitable Incorporated Organisation (CIO), and we were advised not to transfer the Church assets and operations to the CIO, hence the reason for the dormant accounts. Therefore, the Leaders concluded to continue carrying out the Church activities in the original charity structure of Frampton Park Baptist Church, Charity Number.. 1150885 until when the Pension issue will be dissolved. The current good news is that the Baptist Union Pension scheme is now ahead of schedule in the scheme becoming debt free. As a result, our monthly debt contribution has been reduced £307 to £1 per month. The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any lime the financial position of the charity and to enable them to ensure that the financial reports comply with the Charities Act 2011, the Charity {Accounls and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charily and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Approved by order of the board of trustees on..... on its behalf by: .and signed T Allen Trustee