OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2021-12-31-accounts

Charity Registration No. 1173420

UPPER BEEDING BAPTIST CHURCH: THE HUB, BEEDING

TRUSTEES' REPORT AND ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2021

UPPER BEEDING BAPTIST CHURCH: THE HUB, BEEDING LEGAL AND ADMINISTRATIVE INFORMATION

Trustees
Trustees R A G Broad
Rev P Butchers
M S Dillamore
R Fisk
R Bathurst
A Sharpe
M Whitchurch
Charity number 1173420
Principal address The Hub, Beeding
19 Church Lane
Upper Beeding
Steyning
BN44 3HP
Independent Examiners TC Group
The Courtyard
Shoreham Road
Upper Beeding
Steyning
West Sussex
BN44 3TN
Bankers CAF Bank
25 Kings Hill Avenue
Kings Hill
West Malling
ME19 4JQ

UPPER BEEDING BAPTIST CHURCH: THE HUB, BEEDING

CONTENTS

Page
Trustees' report 1
Independent Examiner’s report 7
Statement of financial activities 8
Balance sheet 9
Notes to the accounts 10

UPPER BEEDING BAPTIST CHURCH: THE HUB, BEEDING

TRUSTEES’ REPORT

FOR THE YEAR ENDED 31 DECEMBER 2021

Introduction

The trustees are pleased to present their annual report and accounts for the year ended 31 December 2021. The accounts have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the charity’s Memorandum and Articles of Association, the Charities Act 2011 and the Statement of Recommended Practice, Charities SORP (FRS102).

Aim and Purposes

The principal purpose of The Hub, Beeding, (Charity The Hub, Beeding Upper Beeding Baptist 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.

Objectives

The Activities may include but are not restricted to:

Performance and Achievements

2021 was a year when we eased out of lockdown and took stock about the activities and priorities of the Church and its witness to the love of God and service to the community. As ever, this report is the tip of the iceberg and cannot convey the friendships formed, the love shared, those served, the personal and spiritual growth experienced, the opportunities to share our Faith, the fun we have had, how much we miss our brothers and sisters who have died, the dreams we still have and all the other non-tangible things about being a part of The Hub which will not make it into the following report. Those things, of course, are the most important things, and the events and facts recorded below are the signs which testify to all that the Lord is doing in us and through us.

Rev Peter Butchers, Chair of Trustees.

Financial Reports

Financial Review

The Covid-19 restrictions during the year had an impact on the financial position with a drop in income from lettings, community work and the café due to the restrictions on the building.

Two Restricted Funds were combined to manage our community work better. These were the Community Hub Response Fund and BeFriend Fund.

Income during the year was General Fund £133,541, Designated Funds £14,250 and Restricted Funds £10,370.

Expenditure during the year was General Fund £129,754, Designated Funds £0 and Restricted Funds £14,909.

The Church trustees have established a Reserves Policy to provide financial stability in the pursuit and development of our principal activity. The trustees have set aside reserves to meet emergency situations that may arise either in significant reduction in income or significant unforeseen expenditure. In order to meet unexpected staff costs and other emergency situations the trustees have currently agreed to maintain a minimum sum of £12,500.

1

UPPER BEEDING BAPTIST CHURCH: THE HUB, BEEDING

TRUSTEES’ REPORT

FOR THE YEAR ENDED 31 DECEMBER 2021

Should there be a shortfall in maintaining the sum reviewed and agreed, the trustees may consider reviewing the budget, or other means to ensure that sufficient reserves are maintained. The trustees review annually the level of reserves required to ensure sufficient funds to meet emergency situations. They also monitor income and expenditure closely to minimise unexpected financial risks. The trustees receive a monthly report of financial activity. They have approved the 2021 accounts.

At the year end the charity held unrestricted free reserves of £26,630 (2020: £19,272).

The financial report confirms the Trustees’ view the Charity is in good shape to meet the vision and purpose of the church in serving the Community for years to come.

Main Summary

Budget for the main General Fund cost centres:

Income

Expenditure

Restricted funds for Social Prescribing were expended during the year and the fund is now closed.

The Community Hub Response fund was combined with the BeFriend Fund to improve our management of our community work by creating a new Community Fund.

Governance and Trustees

Membership - Meeting in person was more difficult during the year due to Covid restrictions but the Church membership continued to meet regularly to discuss matters of the church vision and operation though some meetings needed to be held on Zoom or a mixture of Zoom and in person we met in March, May, September and November 2021.

One member passed away, two transferred their membership and three who had not attended for some time resigned membership.

The Trustees’ meetings to discuss matters of the charity, supervision of the staff and operation of the church were held at least monthly and usually twice monthly, they continued via Zoom during the Covid lockdown and recommended social distancing.

2

UPPER BEEDING BAPTIST CHURCH: THE HUB, BEEDING

TRUSTEES’ REPORT

FOR THE YEAR ENDED 31 DECEMBER 2021

Policies - policies reviewed and adopted and are available on our website - 4 November 2019: New policies adopted - Lone Working July 2021 and Fire Safety Sept 21.

Hub Church Youth and Children

Sunday Mornings – Hub Kids

Leaders: Vicki, Jo, Cristina, Phil, Simon.

The Covid-19 pandemic took Hub Kids online for most of 2021. The team worked tirelessly to produce weekly videos including Teaching craft activities for families to enjoy at home. As restrictions allowed we took opportunities to meet outside occasionally with the main church congregation.

As face to face services were allowed from the autumn term, Hub Kids followed the themes of the main church services and the new pattern of fortnightly cafe church. The team prepared child and youth friendly activities to enable them to engage with their families in the table discussions on the cafe church Sundays. The 2nd and 4th Sundays took the children out of the main service and the team prepared appropriate sessions for the ages and abilities of the children that came each week.

Highlights

Challenges

3

UPPER BEEDING BAPTIST CHURCH: THE HUB, BEEDING

TRUSTEES’ REPORT

FOR THE YEAR ENDED 31 DECEMBER 2021

Community family work

Positive Parenting Groups

Positive Play

Seasonal events

Who Let the Dads Out?

Run by Peter and Vicki with Mark Woolfenden and Mark Burt. This group had to stop during the pandemic and has not yet been able to re-open.

BeFriend Families

2 Families currently matched with volunteers.

Hub Café

The Hub Café continues to be the go-to place for friendly help and support and can point people to other organisations when not able to be of specific assistance.

It forms a helpful bridge between church and community enabling people to make connections between life and faith.

Due to the Covid 19 restrictions the Café had to close its doors to the public, but the premises were used for different activities supporting the community through a very challenging time.

Highlights

4

UPPER BEEDING BAPTIST CHURCH: THE HUB, BEEDING TRUSTEES’ REPORT

FOR THE YEAR ENDED 31 DECEMBER 2021

Challenges – continue to be

We continue to rise to these challenges as God continues to stretch us with unexpected opportunities to share His love and grace with others on a weekly basis.

Community Seniors’ work

The Community seniors worker left her post in May 2021. Due to this and the Covid-19 pandemic the shape of the community seniors work has changed.

BeFriend Seniors

During the pandemic all BeFriending went to a telephone only service until restrictions allowed for face to face visiting again. No new matches were made during this time under the BeFriend scheme. Some new telephone BeFriending contacts were set up through the Community Hub Response specifically to support the isolation caused by the lockdown restrictions.

Time Travellers Café

This group stopped during Lockdown and has not restarted.

Friendship Lunch

The lunches were suspended during lockdown. Two new smaller groups were formed in November. Both run monthly by two different teams of volunteers. It continues to be a well-supported and greatly appreciated activity for those who attend.

Coffee and Company

This group stopped during Lockdown and has not restarted.

Teaching and Growth Groups 2021 – Peter Butchers

As we eased out of lockdown we moved from online to face-to-face services. We meet in the following rotation:

Themes covered this year have included: Jan-Feb - The Sermon on the Mount Lent - Why Jesus came Summer - Old Testament Characters Autumn - Love love first - lessons in Love

Public benefit statement

In accordance with our duties as stated in section 17(5) of the 2011 Charities Act, we have considered the guidance provided by the Charity Commission in regard to public benefit. This public benefit has been demonstrated by the activities undertaken since the inception of the charity outlined in the ‘Aim and Purposes’ section above.

5

UPPER BEEDING BAPTIST CHURCH: THE HUB, BEEDING

TRUSTEES’ REPORT

FOR THE YEAR ENDED 31 DECEMBER 2021

Trustees’ responsibilities in relation to the accounts

The Trustees of Upper Beeding Baptist Church: The Hub, Beeding, are responsible for preparing the Trustees' Report and the accounts in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard FRS102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’. Charity law requires the Trustees to prepare accounts 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, including the income and expenditure, of the charity for that year.

In preparing these accounts, 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 accounts comply with the Charities Act 2011. 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.

Approved by the Trustees board on 21 June 2022.

Signed on behalf of the board of trustees

R A Graham Broad Treasurer

6

UPPER BEEDING BAPTIST CHURCH: THE HUB, BEEDING

INDEPENDENT EXAMINER’S REPORT

TO THE MEMBERS OF UPPER BEEDING BAPTIST CHURCH: THE HUB, BEEDING

Independent examiner’s report to the trustees of Upper Beeding Baptist Church: The Hub, Beeding

I report on the accounts of the Charity for the year ended 31 December 2021.

Responsibilities and basis of report

As the trustees of the Charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the 2011 Act’).

Having satisfied myself that the accounts of the Charity are not required to be audited and are eligible for independent examination, I report in respect of my examination of your charity’s accounts as carried out under section 145 of the 2011 Act. In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.

Independent examiner’s statement

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

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.

Jonathan Aikens FCA, DCHA for and on behalf of TC Group

The Courtyard Shoreham Road Upper Beeding Steyning West Sussex BN44 3TN Dated: 12 July 2022

7

UPPER BEEDING BAPTIST CHURCH: THE HUB, BEEDING STATEMENT OF FINANCIAL ACTIVITIES

FOR THE YEAR ENDED 31 DECEMBER 2021

Unrestricted Restricted Designated Total Total
Notes funds funds Funds 2021 2020
Income from: £ £ £ £ £
Donations and legacies 120,247 4,150 14,250 138,647 138,607
Charitable activities 909 - - 909 7,465
Other trading activities 11,382 1,219 - 12,601 64,874
Investments 3 1 - 4 21
Other income 1,000 5,000 - 6,000 24,000
──────── ──────── ──────── ──────── ───────
Total income 3 133,541 10,370 14,250 158,161 234,967
──────── ──────── ──────── ──────── ───────
Expenditure on:
Charitable activities 126,842 13,530 - 140,372 194,774
Other expenditure 2,912 1,379 - 4,291 50,958
──────── ──────── ──────── ──────── ───────
Total expenditure: 4 129,754 14,909 - 144,663 245,732
──────── ──────── ──────── ──────── ───────
Net income/(expenditure) 3,787 (4,539) 14,250 13,498 (10,765)
──────── ──────── ──────── ──────── ───────
Transfers between funds 11
Gross transfers in - 9,026 - 9,026 89,004
Gross transfers out - (9,026) - (9,026) (89,004)
──────── ──────── ──────── ──────── ───────
Net movement in funds 3,787 (4,539) 14,250 13,498 (10,765)
════════ ════════ ════════ ════════ ═══════
Total funds brought forward 26,235 18,980 - 45,215 55,980
──────── ──────── ──────── ──────── ───────
Total funds carried
forward		 13 30,022 14,441 14,250 58,713 45,215
════════ ════════ ════════ ════════ ═══════

8

UPPER BEEDING BAPTIST CHURCH: THE HUB, BEEDING

BALANCE SHEET

AS AT 31 DECEMBER 2021

2021 2020
Notes £ £ £ £
Fixed assets
Tangible assets 8 3,392 6,963
Current assets
Cash at bank and in hand 56,621 39,552
──────── ────────
56,621 39,552
Creditors: amounts falling due 9
within one year (1,300) (1,300)
──────── ────────
Net current assets

55,321 38,252
──────── ────────
Total assets less current liabilities 58,713 45,215
──────── ────────
Net assets 58,713 45,215
════════ ════════
The funds of the charity
Unrestricted funds 30,022 26,235
Restricted funds 11 14,441 18,980
Designated funds 12 14,250 -
──────── ────────
58,713 45,215
════════ ════════

The charity is entitled to the exemption from the audit requirement for the year ended 31 December 2021. No member of the charity has deposited a notice, requiring an audit of these accounts.

The trustees acknowledge their responsibilities for:

The notes on pages 10 to 17 form part of these accounts.

The accounts were approved by the Board on 21 June 2022.

. R A Graham Broad Treasurer

9

UPPER BEEDING BAPTIST CHURCH: THE HUB, BEEDING

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2021

1 Accounting policies

1.1 Basis of preparation and going concern basis

The accounts have been prepared under the Church Accounting Regulations 2006 in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015) – (Charities SORP (FRS 102)) and the Charities Act 2011.

Upper Beeding Baptist Church: The Hub, Beeding meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s).

After making appropriate enquiries, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. This includes taking into account any potential impact of the COVID-19 pandemic.

There are no material uncertainties about Upper Beeding Baptist Church: The Hub, Beeding’s ability to continue as a going concern.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest pound.

1.2 Cash Flow Statement

In accordance with Section 7 of FRS 102 the charity is claiming exemption from the requirement to prepare a cash flow statement on account of its size.

1.3 Income

Donations and other forms of voluntary income are recognised as incoming resources when receivable, except insofar as they are incapable of financial measurement.

Income from Charitable activities comprises grants awarded for activities undertaken by the charity. Grants are credited to the Statement of Financial Activities in the year in which they are receivable unless a grant is subject to donor imposed conditions that specify the time period in which the expenditure of the resources can take place; in which case they are deferred.

Investment income is accounted for on a receivable basis.

Income from other trading activities represents the sale of goods and services and is recognised when receivable.

1.4 Expenditure

Expenditure is accounted for on an accruals basis with the irrecoverable element of VAT included with the item of expense to which it relates.

Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries.

Governance costs (included within support costs) include those costs associated with meeting the constitutional and statutory requirements of the charity and include audit fees and costs linked to the strategic management of the charity. These are now included as support costs.

All costs are allocated between expenditure categories of the SOFA on a basis designed to reflect the use of the resource. Costs relating to a particular activity are allocated directly, others are apportioned based on estimated usage as a proportion of directly attributable expenditure.

10

UPPER BEEDING BAPTIST CHURCH: THE HUB, BEEDING

NOTES TO THE ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2021

1 Accounting Policies

(continued)

1.5 Tangible fixed assets and depreciation

Tangible fixed assets are capitalised at cost and depreciated over their estimated useful economic life on a straight line basis as follows:

Asset category Annual rate Fixtures and fittings 20% Computer equipment 25%

1.6 Fund accounting

Funds held by the charity are either:

Unrestricted general funds - these are funds which can be used in accordance with the charitable objects at the discretion of the trustees and which have not been designated for other purposes.

Restricted funds - these are funds which are to be used in accordance with specific restrictions imposed by donors which have been raised by the charity for particular purposes. The cost of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the accounts

1.7 Taxation

As a charity, Upper Beeding Baptist Church: The Hub, Beeding is exempt from tax on income and gains to the extent that these are applied to its charitable objects.

1.8 Creditors and provisions

Creditors and provisions are recognised where the charity has a present obligation resulting 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.

1.9 Cash at bank and in hand

Cash at bank and in hand includes cash and short term highly liquid investments. The Trustees seek to use short term deposits where possible to maximise the return on monies held at the bank and to manage cash flow.

2 Key estimates and judgements

In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying 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 to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised.

The trustees do not consider that there are any critical estimates or areas of judgement that need to be brought to the attention of the readers of the financial statements

11

UPPER BEEDING BAPTIST CHURCH: THE HUB, BEEDING

NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021

3 Analysis of income and endowments

Unrestricted Restricted Designated Total Total
funds funds Funds 2021 2020
£ £ £ £ £
Sundry donations 3,011 1,850 - 4,861 1,246
BeFriend - 2,300 - 2,300 1,800
Offerings 16,650 - - 16,650 14,729
Giving 67,945 - 12,000 79,945 80,054
Charity vouchers 17,405 - - 17,405 18,465
Hub refurbishment - Gifts - - - - 2,010
Gift aid refund 15,236 - 2,250 17,486 20,303
──────── ──────── ──────── ────── ────────
Total donations and legacies 120,247 4,150 14,250 138,647 138,607
Grants 1,000 5,000 - 6,000 24,000
──────── ──────── ──────── ────── ────────
Total other income 1,000 5,000 - 6,000 24,000
Children and family work 904 - - 904 457
Friendship lunch 5 - - 5 358
Cuba visit - - - - 6,650
──────── ──────── ──────── ────── ────────
Total charitable activities 909 - - 909 7,465
Hub café 9,111 - - 9,111 8,260
Lettings 2,271 - - 2,271 1,319
Social Prescription Income - - - - 12,000
Community Hub Response - 1,219 - 1,219 26,501
HD Community Hubs - - - - 16,794
──────── ──────── ──────── ────── ────────
Total other trading activities 11,382 1,219 - 12,601 64,874
Interest received 3 1 - 4 21
──────── ──────── ──────── ────── ────────
Total investments 3 1 - 4 21
──────
──────── ──────── ──────── ────────
Total income and endowments 133,541 10,370 14,250 158,161 234,967
══════
════════ ════════ ════════ ════════

Further details of the restricted grants are shown in note 11.

12

UPPER BEEDING BAPTIST CHURCH: THE HUB, BEEDING

NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021

4 Analysis of expenditure Staff Depreciation Other costs Total Total
costs
2021 2020
£ £ £ £ £
Hub Base 3,186 3,571 25,595 32,352 94,726
Hub Staff 90,150 - - 90,150 70,332
Hub Mission - - 12,266 12,266 25,644
Hub Community Work - - 3,157 3,157 2,772
Support costs (note 5) - - 2,447 2,447 1,300
─────── ──────── ──────── ────── ────────
Total charitable activities 93,336 3,571 43,465 140,372 194,774
Hub Café - - 2,911 2,911
11,611
Community Hub Response 702 - 678 1,380 22,553
HD Community Hubs - - - - 16,794
─────── ──────── ──────── ────── ────────
Total other expenditure 702 - 3,589 4,291 50,958
─────── ──────── ────────
──────
────────
Total expenditure 94,038 3,571 47,054 144,663 245,732
═══════ ════════ ════════
══════		 ═══════
5 Support costs 2021 2020
£ £
Governance costs (independent examination) 1,680 1,300
Staff training 767 -
────── ───────
2,447 1,300
═══════ ═══════

13

UPPER BEEDING BAPTIST CHURCH: THE HUB, BEEDING NOTES TO THE ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2021

6 Employees

Number of employees

The charity employed 5 employees during the year (2020: 4).

Employment costs

2021 2020
£ £
Wages and salaries 59,917 57,941
Social security costs 16,193 19,001
Pension costs 17,928 15,166
─────── ───────
94,038 92,108
═══════ ═══════

There were no employees whose annual emoluments were £60,000 or more (2020: none).

The key management personnel of the charity comprise the Minister, Rev Peter J Butchers. The minister is paid above the Standard Baptist Union stipend.

7 Trustees

During the year trustees were reimbursed expenditure totalling £1,270 (2020: £1,271).

All the trustees donate their time spent running the charity on a voluntary basis and do not receive any remuneration for their work as trustees.

8 Tangible fixed assets

Tangible fixed assets
Fixtures & Computer Total
Fittings equipment
£ £ £
Cost
At 1 January 2021 16,964 715 17,679
─────── ─────── ───────
As at 31 December 2021 16,964 715 17,679
─────── ─────── ───────
Depreciation
At 1 January 2021 10,179 537 10,716
Charge for the year 3,393 178 3,571
─────── ─────── ───────
At 31 December 2021 13,572 715 14,287
─────── ─────── ───────
Net book value
At 31 December 2021 3,392 - 3,392
═══════ ═══════ ═══════
At 31 December 2020 6,785 178 6,963
═══════ ═══════ ═══════

14

UPPER BEEDING BAPTIST CHURCH: THE HUB, BEEDING

NOTES TO THE ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2021

9 Creditors: amounts falling due within one year 2021 2020
£ £
Accruals 1,300 1,300
─────── ───────
1,300 1,300
═══════ ═══════

10 Employee Benefit Obligations

Baptist Pension Scheme

The Church is an employer participating in a pension scheme known as the Baptist Pension Scheme (BPS). The scheme is managed by the Pension Trustee (Baptist Pension Trust Limited).

The Minister and some staff members are eligible to join the Scheme, which is not contracted out of the State Second Pension.

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 Legal and General Life Assurance Society Limited. In addition, the employer pays a further 4% of pensionable income (or 3& if the employer is in the segregated DC section) to cover Death in Service Benefits, administrative costs, and an associated insurance policy which provides income protection for Scheme members in the event that 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 Unum Limited. Members of the Basic Section pay reduced contributions of 5% of pensionable income, and their employers also pay a total of 5%.

Benefits in respect of service prior to 1 January 2012 are provided through the Defined Benefit (DB) Plan within the Scheme. The main benefits for pre-2012 service were a defined 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. 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.

A formal valuation of the Defined Benefit Plan was performed at 31 December 2013 by a professionally qualified Actuary using the Projected Unit Method. The market value of the DB Plan assets at the valuation date was £162 million.

The valuation of the DB Plan revealed a deficit of assets compared with the value of liabilities of £84 million (equivalent to a past service funding level of 66%). As a result of the valuation, in addition to the contributions to the DC plan set out above, it was agreed to increase the standard rate of deficiency contributions from churches and other employers involved in the DB plan from 11% of pensionable income/Minimum pensionable income to be based on a 12% rate from 1 January 2016. The contributions are based on each church’s or other employer’s position at March 2015. Some churches and other employers that were involved in the DB plan for a short period now pay less than 12%. The Recovery Plan envisages deficiency contributions continuing until 30 June 2035.

15

UPPER BEEDING BAPTIST CHURCH: THE HUB, BEEDING

NOTES TO THE ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2021

10 Employee Benefit Obligations (Continued)

As there are a large number of contributing employers participating in the scheme, the church is unable to ascertain a formal valuation of its share of the underlying assets and liabilities of the scheme. The church however has been able to acquire an estimation of the valuation of its share of underlying assets and liabilities from the Baptist Pension Scheme. The liability relating to Upper Beeding Baptist Church; The Hub, Beeding is estimated to be £338,000 (2020: £346,000). The employer debt for Upper Beeding Baptist Church is estimated to be £42,100 (2020: £64,200).

Consequently upon the departure of the Minister in 2010, the Church had a cessation event under Section 75, of the Pensions Act 1995. This makes the Church liable for the proportion of the overall deficit (assessed by reference to the cost of securing benefits by the purchase of annuities) applicable to its previous ministers who were members of the scheme. It is not possible to quantify this debt without an actuarial calculation. In order to avoid the cost of such calculation and because the church may not be able to continue its charitable activities following payment of the employer debt which arises upon a cessation event, the Pension Scheme Trustee (after consulting the Pensions Regulator) is not currently pursuing the employer debt, but is instead permitting the church to pay ongoing deficiency contributions outlined above. However, the Pension Scheme Trustee has the right to quantify and seek payment of the debt at any time at its discretion.

11 Restricted funds

Balance at 1 Incoming Resources Transfers Balance at
January 2021 resources expended between 31
funds December
2021
£ £ £ £ £
BeFriend 1,954 2,300 - (4,254) -
Social prescription 13,099 - (13,099) - -
Community Hub
Response 3,927 1,107 (262) (4,772) -
Community Fund - 6,963 (1,548) 9,026 14,441
─────── ─────── ─────── ─────── ───────
18,980 10,370 (14,909) - 14,441
═══════ ═══════ ═══════ ═══════ ═══════

BeFriend – This Fund is now closed and monies have been transferred to the Community Fund. Social prescription – This fund was for the part time work of two of our staff members working in partnership with GP’s and other agencies in support of adults and children who want to make positive changes to improve their health and wellbeing. All monies were used in 2021 and the fund closed in December 2021

Community Hub Response – This Fund is now closed and monies have been transferred to the Community Fund.

Community Fund - This fund has been combined the monies from the BeFriend and Community Hub Response Funds (both for community work) to form a new fund for our work in the community. The BeFriend Fund was set up for work with members of the community. The Community Hub Response was set up for meeting the needs of the community during the first Covid lockdown. It was appropriate to combine these funds into a new 'Community Fund' which covers all aspects of work in supporting the local community.

16

UPPER BEEDING BAPTIST CHURCH: THE HUB, BEEDING

NOTES TO THE ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2021

12 Designated funds
Balance at Incoming Resources Transfers Balance
1 January resources expended between at 31
2021 funds December
2021
£ £ £ £ £
Hub Projects - 14,250 - - 14,250
─────── ─────── ─────── ─────── ───────
- 14,250 - - 14,250
═══════ ═══════ ═══════ ═══════ ═══════

Hub Projects - This a Designated Fund for one off projects not included in the Hub’s General Fund Budget.

13 Analysis of net assets between funds Unrestricted Restricted Designated Total
funds funds funds
£ £ £ £
Fund balances at 31 December 2021 are
represented by:-
Tangible fixed assets 3,392 - - 3,392
Current assets 27,930 14,441 14,250 56,621
Creditors: amounts falling due within one year (1,300) - - (1,300)
─────── ─────── ─────── ───────
30,022 14,441 14,250 58,713
═══════ ═══════ ═══════ ═══════
Unrestricted Restricted Designated Total
funds funds funds
£ £ £ £
Fund balances at 31 December 2020 are
represented by:-
Tangible fixed assets 6,963 - - 6,963
Current assets 20,572 18,980 - 39,552
Creditors: amounts falling due within one year (1,300) - - (1,300)
─────── ─────── ─────── ───────
26,235 18,980 - 45,215
═══════ ═══════ ═══════ ═══════

14 Control

The charity is under the control of the Trustees.

15 Charity information

Upper Beeding Baptist Church: The Hub, Beeding is a Charitable Incorporated Organisation registered in England and Wales. The charity’s registered number and registered office address can be found on the legal and administrative information page.

17

Document Activity Report

Document Sent

Fri, 05 Aug 2022 12:24:57 GMT

Document Activity History

Document history shows most recent activity first

Date

Activity

You can verify that this is a genuine Portal document by uploading it to the following secure web page:

http://tcgroup.accountantspace.co.uk/messages/VerifyDocument