**Charity number: 1174549**
## **BILLERICAY BAPTIST CHURCH**
**UNAUDITED**
**TRUSTEES' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022**
## **BILLERICAY BAPTIST CHURCH**
## **CONTENTS**
||Page|
|---|---|
|**Reference and Administrative Details of the Charity, its Trustees and Advisers**|1|
|**Trustees' Report**|2 - 9|
|**Independent Examiner's Report**|10 - 11|
|**Statement of Financial Activities**|12|
|**Balance Sheet**|13|
|**Notes to the Financial Statements**|14 - 26|
## **BILLERICAY BAPTIST CHURCH**
## **REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2022**
## **Trustees**
R Warrington, Treasurer J Powell, Secretary W Dulson, Church Pastor (appointed 17 December 2022) C White D Mayo (appointed 14 May 2022) P Walker (appointed 14 May 2022) A Hough (resigned 14 May 2022)
## **Charity registered number**
1174549
## **Principal office**
140 Perry Street Billericay Essex CM12 0NS
## **Accountants**
Venthams Chartered Accountants Millhouse 32 - 38 East Street Rochford Essex SS4 1DB
## **Bankers**
Lloyds Bank 89 High Street Billericay Essex CM12 9AT
## **Solicitors**
Anthony Collins Solicitors LLP 134 Edmund Street Birmingham Warwickshire B3 2ES
Page 1
## **BILLERICAY BAPTIST CHURCH**
## **TRUSTEES' REPORT FOR THE YEAR ENDED 31 DECEMBER 2022**
We present our Annual Report together with the financial statements of Billericay Baptist Church (“the Charity”; “the Church”) for the period ended 31 December 2022. We confirm that the Annual Report and financial statements of the Charity comply with current statutory requirements, the requirements of the Charity's Governing Document and the provisions of the Statement of Recommended Practice (SORP), applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
## **Objectives and activities**
## **a. Policies and objectives**
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, community service and other general charitable purposes including the prevention or relief of poverty in the United Kingdom and other parts of the world as the Church shall determine.
As a Member of the Baptist Union, the Church subscribes to the Union’s Declaration of Principle which is:
1. That our Lord and Saviour Jesus Christ, God manifest in the flesh, is the sole and absolute authority in all matters pertaining to faith and practice, as revealed in the Holy Scriptures, and that each church has liberty, under the guidance of the Holy Spirit, to interpret and administer His laws.
2. That Christian Baptism is the immersion in water into the name of the Father, the Son and Holy Spirit, of those who have professed repentance towards God and faith in our Lord Jesus Christ who died for our sins according to the Scriptures; was buried, and rose again on the third day.
3. That it is the duty of every disciple to bear personal witness to the gospel of Jesus Christ, and to take part in the evangelisation of the world.”
Page 2
**BILLERICAY BAPTIST CHURCH**
## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022**
## **Objectives and activities (continued)**
## **b. Activities for achieving objectives**
## _Church Activities_
In planning our activities, we have paid regard to the Charity Commission’s guidance on public benefit. The Church seeks to be a friendly and welcoming community and anybody is welcome to attend our varied programme of activities provided for different age and interest groups. Our programme of activities is intended to show the love of Jesus Christ in action and is designed to introduce people to Him or to help people deepen their relationship with Him.
The activities of the Church often provide the first point of contact between the Church and the local community, forming a basis of ongoing friendship and trust. Full details of our activities can be found at our website (www.billericaybaptist.org.uk) and a review of activities follows later in this report.
## _Grant Making_
The Church financially supports other Christian organisations in Billericay, across the UK and worldwide, where they pursue similar and complementary objectives to us. A list of organisations for which financial support is provided can be found in Note 5 to the Accounts.
The Church has a Mission Team responsible for recommending the allocation of grants to outside organisations in accordance with the Church’s grant making policy. Recommendations are reviewed and endorsed by the Church Leadership and Trustees and are agreed by the Church Membership as part of the annual operating budget.
Where the Church provides financial support by way of grants, we are confident that appropriate controls, including those pertinent to money laundering, are in place to ensure that those grants are properly managed and are used in accordance with the charitable purposes of the Church. We see this financial support as an important way in which the Church can meet its objectives in communities and jurisdictions beyond its own immediate reach.
We are working with each of our mission partners to ensure that appropriate safeguarding measures are in place, especially for those partners working with children or vulnerable adults.
## **Achievements and performance**
## **a. Going concern**
We believe that the church has sufficient resources to continue in operational existence for the foreseeable future and so we continue to adopt the going-concern basis in preparing the financial statements.
Page 3
## **BILLERICAY BAPTIST CHURCH**
## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022**
## **Achievements and performance (continued)**
## **b. Key financial performance indicators**
The Church is grateful to its members for donating generously to allow the Church to fulfil its programme of activities and to support its mission partners.
- Of its donations and associated Gift Aid of £298,809 the Church has provided grants to other organisations of £95,789.
- Donations received, together with associated Gift Aid at £298,809 were, on a like-for-like basis 2% lower than 2021. That is after removing £61,208 of donations raised from the 2021 special gift day.
- Expenditure on charitable activities at £269,934 has decreased by 25% from 2021. This is predominantly due to a smaller employed staff team. We are expecting to see costs rise again in 2023 as staffing levels are increased.
- Net current assets at the year-end were £203,970 up from £133,015 in the previous year, in large part reflecting the surplus for the year. Cash balances were up around £50,000 at £174,888.
- Readily available Church funds at the year-end (unrestricted cash plus net current assets), were £184,426
Page 4
**BILLERICAY BAPTIST CHURCH**
## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022**
## **Achievements and performance (continued)**
## **c. Review of activities**
Following the resignations in late 2021 of the Church’s Senior Minister, Associate Minister and Children’s Worker, the Church started the year with a smaller ministry team. Finding ourselves unexpectedly in this place led to a time of prayer, reflection and review, as we asked the Lord what this meant for the future resourcing and direction of the Church, and as a result we foresee an exciting time of development for the Church with an increasing impact into our town.
We have identified three distinct and intertwined ministries which we believe will equip the Church to advance its major objectives. Each ministry will be headed by employed ministry leaders, either on a full time or part time basis.
The first ministry is primarily directed towards the current church congregations helping us to grow as a Church family and to better care for each other. The second ministry’s main focus will be directed outside of the Church buildings towards the town and community in which we live. It is likely to see us working more closely with existing initiatives in the town and exploring new areas for the Church to engage with the town’s various communities. The third ministry will be primarily directed towards children and young people, both inside and outside of the existing church communities. This role may extend to supporting family groups.
This method of working represents a significant departure from the way the Church has operated in the past which is both exciting and challenging. The Elders and the Trustees will continue to work closely together as they, in conjunction with the new to be appointed ministry leads, shape the future direction and activities of the church.
We are pleased to announce that the Rev. Wayne Dulson and the Rev. Gary Bott have been appointed to take on the roles of Church Pastor and Community Pastor respectively. The children’s, youth and family ministry continues to be shaped and developed in the expectation that ministry lead(s) will be appointed during 2023.
2022 has seen the Church fully ‘re-open’ following the removal of the restrictions and measures designed to slow the spread of COVID-19. Operating with a smaller ministerial team, the Church has been able to operate effectively with most ministries flourishing. We thank the many volunteers that have enabled this to happen.
2022 saw our Youth Work Director (Gary Bott) complete his studies at Spurgeon’s college. The now Rev. Gary Bott has accepted the Church’s invitation to take on the newly created role of Community Pastor. Gary has served the Church faithfully for many years and we are thankful for his service and the support that his family has provided.
The Church has continued to make use of the on-line communication tools developed during the COVID-19 pandemic. Recognising the benefits that this brings, the Church intends to continue on this path exploring how on-line communication tools can be used alongside face-to-face gatherings to enable the Church to better achieve its objectives.
Given that backdrop, the main activity highlights for 2022 included:
- In accordance with its own COVID protocols, the Church was able to fully re-open its buildings for church services, youth work and other community related activities.
- The Church has restructured its ministry to help us better meet our objectives.
- The Church has appointed a Church Pastor and a Community Pastor into the new ministry structure.
- The Church’s Youth Work Director completed his ministry training at Spurgeon’s college to take on the newly created role within the church of Community Pastor.
- The Church remains an active member of Churches Together in Billericay and supports the work which it undertakes practically (where this has been possible), financially and prayerfully. This includes Schools
Page 5
**BILLERICAY BAPTIST CHURCH**
**TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022**
## **Achievements and performance (continued)**
Ministry Billericay, and Billericay Street Pastors. Many from the Church have also played an active role in the Billericay Foodbank supporting a growing number of families in the town.
- The Church continues its strong links with other organisations and mission partners across the world. The Church leadership is highly appreciative of the work that all mission partners undertake in helping the Church fulfil its objectives both within and beyond the Billericay town boundaries.
## **Financial review**
## **a. Annual Review**
Remuneration of employed staff is determined by the Trustees, and is subject to Church Members’ approval as part of the operating budget. The Church is heavily reliant on its membership and congregational attendees serving as volunteers in all aspects of the Church activities, many of which run with little or no impact on the Church’s finances, but nevertheless contribute substantially to the achievement of the Church’s objectives. The Trustees express their thanks to every volunteer.
Income for 2022, was £340,505 (2021 £374,633*) and with expenditure of £269,934 (2021 £361,453), resulted in a net surplus for the year of £70,571 (2021 surplus £13,180). Details of income and expenditure can be found in the Statement of Financial Activities and the associated notes.
Total reserves at the end of the year are £1,581,905 (2021 £1,511,334), of which £464,368 (2021 £455,123) are restricted and £1,035,366 (2021 £1,038,488) are designated. Full details of the Church’s assets, liabilities and reserves can be found in the Balance Sheet and the associated notes.
Towards the end of 2022, the Church appointed a Church Pastor and a Community Pastor and currently has provision for one additional full-time head to work with youth, children and families. Whilst the timing of this final appointment is uncertain, the Trustees and Church Members have approved a deficit operational budget for 2023, in the knowledge that should the appointment takes place later in the year, the Church is likely to run a surplus; and should the appointment take place earlier in the year, the church has sufficient designated funds from the 2021 gift day to cover the projected deficit.
There is no current pressure on the Church’s reserves.
_*2021 included a special gift day raising £61,208_
## **b. Reserves policy**
We have agreed a Reserves Policy which is broadly equivalent to three month's full staffing and missionary support costs and one month's other expenditure. For the current year, this figure is £65,000 and is covered by unrestricted cash reserves.
The Trustees review the Reserves Policy annually as part of the budget setting process.
## **c. Principal funding**
Financial responsibility for the work of the Church rests primarily with its members and regular congregation through free-will offerings. The Church does not pursue operational fund raising from external sources.
Page 6
**BILLERICAY BAPTIST CHURCH**
## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022**
## **Structure, governance and management**
## **a. Constitution**
## _Governing Document_
Since 1 January 2018, the Church operates under its CIO constitution (registered with the Charity Commission on 7 September 2017) as its Governing Document.
## _Structure_
The Church has a Leadership Team (Minsters and Elders) responsible for spiritual direction and oversight, and a Trustee body responsible for governance. The working relationship between the Leadership Team and the Trustee body is regularly considered to ensure that all Church matters are handled efficiently and effectively.
Consistent with other Baptist churches, all significant aspects of the work of the Church are subject to the approval of the Church Members. Members of the Church are accepted into membership in accordance with the Constitution, which requires them to profess their faith in Jesus Christ.
## _Governance_
Trustees and Elders both meet regularly and separately. In order for the Church’s structure to work effectively, the Leadership Team and the Trustee Body also meet together to discuss the future plans and current activities of the Church, thereby ensuring that both spiritual and governance aspects of Church life are fully considered. Within the Trustee Body each Trustee has responsibility for a specific aspect of governance covering, employment, risk, policies, and finance. Sub groups working in these areas meet under the direction of the responsible Trustee.
Significant decisions are required to be taken at the Church Members’ Meeting following agreement by the Leadership team and the Trustee Body. Except for a few key issues, such as the appointment of staff, Elders and Secretary and Treasurer, where a secret ballot is held, decisions are usually taken by consensus with voting, when required, by “show of hands”.
## **b. Methods of appointment or election of Trustees**
All appointments are made by the Church Meeting in accordance with the voting requirements laid down in the Constitution. The Church Secretary and Church Treasurer, who must be serving members of the Church, are appointed annually at the Church Members’ Meeting.
During the year, three new Trustees have been appointed: Daniel Mayo, Philip Walker and Wayne Dulson. Alan Hough stood down as a Trustee and Church Treasurer.
Page 7
**BILLERICAY BAPTIST CHURCH**
## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022**
## **Structure, governance and management (continued)**
## **c. Principal risks and operating policies**
Operating policies are maintained by the Church to:
- Allow for consistent and efficient decision making;
- Provide transparency and accountability;
- Provide a framework for fairness;
- Protect staff and volunteers.
A Risks Register is maintained and reviewed regularly. No ‘high-risk’ situations requiring urgent action were identified during 2022, and we are satisfied that suitable operating policies are in place to manage risk.
The Church has safeguarding procedures and systems in place to ensure that all people working with children, young people and adults at risk are appropriately vetted through the Disclosure and Barring Service.
## _Relationships with Connected Charities_
The Church continues to be in membership with the Baptist Union of Great Britain, Eastern Baptist Association and the Evangelical Alliance. There are also ongoing relationships with the Boys’ Brigade, Girls’ Brigade, Churches Together in Billericay and various national and international Christian organisations.
## **d. Post balance sheet events**
There have been no significant post-balance-sheet events requiring comment in this report.
Page 8
**BILLERICAY BAPTIST CHURCH**
## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022**
## **Statement of Trustees' responsibilities**
The Trustees are responsible for preparing the Trustees' 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 which give a true and fair view of the state of affairs of the charity and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles of the Charities SORP (FRS 102);
- make judgments and accounting estimates that are reasonable and prudent;
- state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charity's transactions and 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 CIO Association. 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 order of the members of the board of Trustees and signed on their behalf by:
**R Warrington** Church Treasurer Date: 16 May 2023
**J Powell** Church Secretary
Page 9
## **BILLERICAY BAPTIST CHURCH**
## **INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 DECEMBER 2022**
## **Independent Examiner's Report to the Trustees of Billericay Baptist Church ('the charity')**
I report to the charity Trustees on my examination of the accounts of the charity for the year ended 31 December 2022.
## **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').
I report in respect of my examination of the charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Page 10
**BILLERICAY BAPTIST CHURCH**
## **INDEPENDENT EXAMINER'S REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022**
## **Independent Examiner's Statement**
Since the charity's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales (ICAEW), which is one of the listed bodies.
Your attention is drawn to the fact that the charity has prepared the accounts in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has been withdrawn.
I understand that this has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.
I have completed my examination. I confirm that no 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 charity as required by section 130 of the 2011 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.
This report is made solely to the charity's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the charity's Trustees those matters I am required to state to them in an Independent Examiner's Report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity and the charity's Trustees as a body, for my work or for this report.
Signed: Dated: 16 May 2023 Stuart Harrison FCA
## **Venthams**
Chartered Accountants Millhouse 32 - 38 East Street Rochford Essex SS4 1DB
Page 11
## **BILLERICAY BAPTIST CHURCH**
## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2022**
|**Note**
**Income from:**
Donations and legacies
3
Investments
4
**Total income**
**Expenditure on:**
Charitable activities
6
**Total expenditure**
**Net income/(expenditure)**
Transfers between funds
14
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
Net movement in funds
**Total funds carried forward**|**Unrestricted**
**funds**
**2022**
**£**
**277,195**
**28,938**
**306,133**
**171,730**
**171,730**
**134,403**
**(73,077)**
**61,326**
**1,056,211**
**61,326**
**1,117,537**|**Restricted**
**funds**
**2022**
**£**
**34,372**
**-**
**34,372**
**98,204**
**98,204**
**(63,832)**
**73,077**
**9,245**
**455,123**
**9,245**
**464,368**|**Total**
**funds**
**2022**
**£**
**311,567**
**28,938**
**340,505**
**269,934**
**269,934**
**70,571**
**-**
**70,571**
**1,511,334**
**70,571**
**1,581,905**|_Total_
_funds_
_2021_
_£_
_364,820_
_9,813_
_374,633_|
|---|---|---|---|---|
|||||_361,453_
_361,453_|
|||||_13,180_
_-_
_13,180_|
|||||_1,498,154_
_13,180_
_1,511,334_|
Page 12
## **BILLERICAY BAPTIST CHURCH**
## **BALANCE SHEET FOR THE YEAR ENDED 31 DECEMBER 2022**
|**Note**
**Fixed assets**
Tangible assets
11
**Current assets**
Debtors
12
Cash at bank and in hand
Creditors: amounts falling due within one
year
13
**Net current assets**
**Total net assets**
**Charity funds**
Restricted funds
14
Unrestricted funds
14
**Total funds**|**39,961**
**174,888**
**214,849**
**(10,879)**|**2022**
**£**
**1,377,935**
**1,377,935**
**203,970**
**1,581,905**
**464,368**
**1,117,537**
**1,581,905**|_18,343_
_125,635_
_143,978_
_(10,963)_|_2021_
_£_
_1,378,319_|
|---|---|---|---|---|
|||||_1,378,319_
_133,015_|
|||||_1,511,334_|
|||||_455,123_
_1,056,211_|
|||||_1,511,334_|
The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:
**R Warrington** Church Treasurer Date: 16 May 2023
**J Powell** Church Secretary
Page 13
**BILLERICAY BAPTIST CHURCH**
**NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022**
## **1. General information**
Billericay Baptist Church is a Charitable Incorporated Organisation registered with the Charity Commission in England and Wales. Its principal office address is 140 Perry Street, Billericay, Essex, CM12 0NS.
## **2. Accounting policies**
## **2.1 Basis of preparation of financial statements**
The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.
The financial statements have been prepared to give a 'true and fair' view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair' view. This departure has involved following the Charities SORP (FRS 102) published in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.
Billericay Baptist Church 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.
## **2.2 Income**
All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
## **2.3 Expenditure**
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the charity's objectives, as well as any associated support costs.
Grants payable are charged in the year when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the year end are noted as a commitment, but not accrued as expenditure.
All expenditure is inclusive of irrecoverable VAT.
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**BILLERICAY BAPTIST CHURCH**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022**
## **2. Accounting policies (continued)**
## **2.4 Interest receivable**
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.
## **2.5 Tangible fixed assets and depreciation**
Tangible fixed assets costing £2,500 or more and assets that form part of distinct projects whose total exceeds £2,500 are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.
Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.
Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, .
Depreciation is provided on the following bases:
|Freehold property|- No depreciation|
|---|---|
|Motor vehicles|- 25% straight line|
|Computer equipment|- 33% straight line|
## **2.6 Debtors**
Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
## **2.7 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 twelve months or less from the date of acquisition or opening of the deposit or similar account.
## **2.8 Liabilities and provisions**
Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of Financial Activities as a finance cost.
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**BILLERICAY BAPTIST CHURCH**
**NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022**
## **2. Accounting policies (continued)**
## **2.9 Financial instruments**
The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
## **2.10 Pensions**
The charity operates a defined contribution pension scheme and the pension charge represents the amounts payable by the charity to the fund in respect of the year.
## **2.11 Fund accounting**
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.
Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The costs 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 financial statements.
Investment income, gains and losses are allocated to the appropriate fund.
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## **BILLERICAY BAPTIST CHURCH**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022**
## **3. Income from donations and legacies**
|**Unrestricted**
**funds**
**2022**
**£**
Donations
277,195
_Total 2021_
_338,784_|**Restricted**
**funds**
**2022**
**£**
34,372
_26,036_|**Total**
**funds**
**2022**
**£**
**311,567**
_364,820_|_Total_
_funds_
_2021_
_£_
_364,820_|
|---|---|---|---|
|||||
## **4. Investment income**
|**Unrestricted**
**funds**
**2022**
**£**
Investment income - local investment properties
27,690
Investment income - bank interest
1,248
**Total 2022**
28,938
_Total 2021_
_9,813_|**Total**
**funds**
**2022**
**£**
**27,690**
**1,248**
**28,938**
_9,813_|_Total_
_funds_
_2021_
_£_
_9,635_
_178_
_9,813_|
|---|---|---|
||||
## **5. Analysis of grants**
|Grants, Ministry
_Total 2021_|**Grants to**
**Institutions**
**2022**
**£**
95,789
_92,637_|**Total**
**funds**
**2022**
**£**
**95,789**
_92,637_|_Total_
_funds_
_2021_
_£_
_92,637_|
|---|---|---|---|
|||||
The charity has made the following material grants to institutions during the year:
Page 17
## **BILLERICAY BAPTIST CHURCH**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022**
## **5. Analysis of grants (continued)**
|**Name of institution**
Accomplish Trust
BMS Home Mission
BMS World Mission
BUGB Home Mission
DEC (Pakistan flood)
Central African Mission
Christian Vision for Men
London City Mission
Churches Together in Billericay
Echoes of Service
Interserve
Rooftop Ministries
Project Possible (ROPE)
RSVP
Vision to Serve
Youth for Christ
Sundry Donations|**2022**
**£**
**3,173**
**644**
**2,056**
**10,748**
**1,000**
**2,592**
**-**
**2,400**
**8,562**
**10,623**
**25,878**
**6,954**
**3,250**
**2,160**
**6,941**
**2,358**
**6,450**
**95,789**|_2021_
_£_
_5,365_
_503_
_1,056_
_10,248_
_-_
_2,592_
_2,535_
_3,000_
_9,122_
_2,298_
_25,962_
_6,954_
_3,750_
_2,160_
_12,052_
_2,358_
_2,682_|
|---|---|---|
|||_92,637_|
## **6. Analysis of expenditure on charitable activities Summary by fund type**
|**Unrestricted**
**funds**
**2022**
**£**
Ministry
171,730
_Total 2021_
_266,277_|**Restricted**
**funds**
**2022**
**£**
98,204
_95,176_|**Total**
**2022**
**£**
**269,934**
_361,453_|_Total_
_2021_
_£_
_361,453_|
|---|---|---|---|
|||||
Page 18
## **BILLERICAY BAPTIST CHURCH**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022**
## **7. Analysis of expenditure by activities**
|Ministry
_Total 2021_
**Analysis of direct costs**
Staff costs
Depreciation
Training
Speakers
Premises expenses
Cleaning
Maintenance
Heat, Light & Water
Insurance
Hiring of premises
Subscriptions
Stationery & Printing
Communication
Telephone
Minibus
Other expenditure
General fund expenditure
**Total 2022**
_Total 2021_|**Activities**
**undertaken**
**directly**
**2022**
**£**
169,884
_264,978_|**Grant**
**funding of**
**activities**
**2022**
**£**
95,789
_92,637_|**Support**
**costs**
**2022**
**£**
4,261
_3,838_
**Ministry**
**2022**
**£**
61,995
5,472
5,284
2,624
8,067
8,869
19,845
9,838
3,044
-
1,799
2,560
4,249
1,999
2,000
3,458
28,781
169,884
_264,978_|**Total**
**funds**
**2022**
**£**
**269,934**
_361,453_
**Total**
**funds**
**2022**
**£**
**61,995**
**5,472**
**5,284**
**2,624**
**8,067**
**8,869**
**19,845**
**9,838**
**3,044**
**-**
**1,799**
**2,560**
**4,249**
**1,999**
**2,000**
**3,458**
**28,781**
**169,884**
_264,978_|_Total_
_funds_
_2021_
_£_
_361,453_|
|---|---|---|---|---|---|
||||||_Total_
_funds_
_2021_
_£_
_157,040_
_9,170_
_34_
_75_
_8,000_
_4,460_
_44,547_
_8,060_
_3,072_
_150_
_1,602_
_1,972_
_7,779_
_2,421_
_1,607_
_1,260_
_13,729_
_264,978_|
|||||||
Page 19
## **BILLERICAY BAPTIST CHURCH**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022**
## **8. Independent examiner's remuneration**
The independent examiner's remuneration amounts to an independent examiner fee of £1,998 ( _2021_ - _£1,903_ ).
## **9. Staff costs**
|Wages and salaries
Social security costs
Contribution to defined contribution pension schemes|**2022**
**£**
**54,991**
**943**
**6,061**
**61,995**|_2021_
_£_
_135,607_
_7,575_
_13,858_|
|---|---|---|
|||_157,040_|
The average number of persons employed by the charity during the year was as follows:
||**2022**|_2021_|
|---|---|---|
||**No.**|_No._|
|Employees|**3**|_6_|
No employee received remuneration amounting to more than £60,000 in either year.
## **10. Trustees' remuneration and expenses**
During the year, one or more Trustees has been paid remuneration or has received other benefits from an employment with the charity. The value of Trustees' remuneration and other benefits was as follows:
|||**2022**|_2021_|
|---|---|---|---|
|||**£**|_£_|
|Rev. I Smith|Remuneration|**-**|_30,292_|
||Pension contributions paid|**-**|_3,021_|
|T Madders|Remuneration|**-**|_6,962_|
||Pension contributions paid|**-**|_678_|
|W Dulson|Remuneration|**1,411**|_-_|
||Pension contributions paid|**171**|_-_|
During the year ended 31 December 2022, no Trustee expenses have been incurred _(2021 - £NIL)_ .
Page 20
## **BILLERICAY BAPTIST CHURCH**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022**
## **11. Tangible fixed assets**
|**Cost or valuation**
At 1 January 2022
Additions
At 31 December 2022
**Depreciation**
At 1 January 2022
Charge for the year
At 31 December 2022
**Net book value**
At 31 December 2022
_At 31 December 2021_|**Freehold**
**property**
**£**
**1,372,324**
**-**
**1,372,324**
**-**
**-**
**-**
**1,372,324**
_1,372,324_|**Motor**
**vehicles**
**£**
**26,479**
**-**
**26,479**
**24,824**
**1,655**
**26,479**
**-**
_1,655_|**Computer**
**equipment**
**£**
**8,042**
**5,088**
**13,130**
**3,702**
**3,817**
**7,519**
**5,611**
_4,340_|**Total**
**£**
**1,406,845**
**5,088**
**1,411,933**|
|---|---|---|---|---|
|||||**28,526**
**5,472**
**33,998**|
|||||**1,377,935**|
|||||_1,378,319_|
The church premises, freehold manses and all other assets are stated at cost less accumulated depreciation.
## **12. Debtors**
|**Due within one year**
Prepayments and accrued income
Tax recoverable|**2022**
**£**
**4,203**
**35,758**
**39,961**|_2021_
_£_
_2,687_
_15,656_
_18,343_|
|---|---|---|
Page 21
## **BILLERICAY BAPTIST CHURCH**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022**
## **13. Creditors: Amounts falling due within one year**
||**2022**|_2021_|
|---|---|---|
||**£**|_£_|
|Accruals and deferred income|**10,879**|_10,963_|
Page 22
## **BILLERICAY BAPTIST CHURCH**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022**
## **14. Statement of funds**
## **Statement of funds - current year**
|**Unrestricted funds**
**Designated funds**
Manses
Reserve
Covid-19
Gift day
2022 surplus
Gift day
**General funds**
General Fund
Other Organisation Fund
**Total Unrestricted funds**
**Restricted funds**
Church premises
Mission Fund
Life expo
Boys Brigade
Girls Brigade
**Total of funds**|**Balance at 1**
**January**
**2022**
**£**
**927,500**
**65,000**
**-**
**-**
**-**
**45,988**
**1,038,488**
**15,527**
**2,196**
**17,723**
**1,056,211**
**444,823**
**2,428**
**1,000**
**3,247**
**3,625**
**455,123**
**1,511,334**|**Income**
**£**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**306,133**
**-**
**306,133**
**306,133**
**-**
**25,498**
**-**
**3,570**
**5,304**
**34,372**
**340,505**|**Expenditure**
**£**
**-**
**-**
**-**
**-**
**(7,000)**
**-**
**(7,000)**
**(164,330)**
**(400)**
**(164,730)**
**(171,730)**
**-**
**(88,464)**
**-**
**(4,783)**
**(4,957)**
**(98,204)**
**(269,934)**|**Transfers**
**in/out**
**£**
**-**
**-**
**-**
**-**
**7,000**
**(3,122)**
**3,878**
**(79,455)**
**2,500**
**(76,955)**
**(73,077)**
**-**
**73,077**
**-**
**-**
**-**
**73,077**
**-**|**Balance at**
**31**
**December**
**2022**
**£**
**927,500**
**65,000**
**-**
**-**
**-**
**42,866**
**1,035,366**|
|---|---|---|---|---|---|
||||||**77,875**
**4,296**
**82,171**|
||||||**1,117,537**|
||||||**444,823**
**12,539**
**1,000**
**2,034**
**3,972**
**464,368**|
||||||**1,581,905**|
Page 23
## **BILLERICAY BAPTIST CHURCH**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022**
## **14. Statement of funds (continued)**
## **Statement of funds - prior year**
|**Unrestricted funds**
**Designated funds**
Manses
Reserve
Covid-19
Gift day
2022 surplus
Gift day
**General funds**
General Fund
Other Organisation Fund
**Total Unrestricted funds**
**Restricted funds**
Church premises
Mission Fund
Life expo
Boys Brigade
Girls Brigade
**Total of funds**|_Balance at_
_1 January_
_2021_
_£_
_927,500_
_65,000_
_4,700_
_-_
_-_
_-_
_997,200_
_48,834_
_7,612_
_56,446_
_1,053,646_
_437,562_
_5,946_
_1,000_
_-_
_-_
_444,508_
_1,498,154_|_Income_
_£_
_-_
_-_
_-_
_61,208_
_-_
_-_
_61,208_
_287,389_
_-_
_287,389_
_348,597_
_-_
_21,737_
_-_
_2,550_
_1,749_
_26,036_
_374,633_|_Expenditure_
_£_
_-_
_-_
_-_
_-_
_-_
_-_
_-_
_(266,277)_
_-_
_(266,277)_
_(266,277)_
_-_
_(92,333)_
_-_
_(939)_
_(1,904)_
_(95,176)_
_(361,453)_|_Transfers_
_in/out_
_£_
_-_
_-_
_(4,700)_
_(15,220)_
_-_
_-_
_(19,920)_
_(54,419)_
_(5,416)_
_(59,835)_
_(79,755)_
_7,262_
_67,077_
_-_
_1,636_
_3,780_
_79,755_
_-_|_Balance at_
_31_
_December_
_2021_
_£_
_927,500_
_65,000_
_-_
_45,988_
_-_
_-_
_1,038,488_|
|---|---|---|---|---|---|
||||||_15,527_
_2,196_
_17,723_|
||||||_1,056,211_|
||||||_444,824_
_2,427_
_1,000_
_3,247_
_3,625_
_455,123_|
||||||_1,511,334_|
Page 24
## **BILLERICAY BAPTIST CHURCH**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022**
## **15. Summary of funds**
## **Summary of funds - current year**
|Designated funds
General funds
Restricted funds|**Balance at 1**
**January**
**2022**
**£**
**1,038,488**
**17,723**
**455,123**
**1,511,334**
_Balance at_
_1 January_
_2021_
_£_
_997,200_
_56,446_
_444,508_
_1,498,154_|**Income**
**£**
**-**
**306,133**
**34,372**
**340,505**
_Income_
_£_
_61,208_
_287,389_
_26,036_
_374,633_|**Expenditure**
**£**
**(7,000)**
**(164,730)**
**(98,204)**
**(269,934)**
_Expenditure_
_£_
_-_
_(266,277)_
_(95,176)_
_(361,453)_|**Transfers**
**in/out**
**£**
**3,878**
**(76,955)**
**73,077**
**-**
_Transfers_
_in/out_
_£_
_(19,920)_
_(59,835)_
_79,755_
_-_|**Balance at**
**31**
**December**
**2022**
**£**
**1,035,366**
**82,171**
**464,368**
**1,581,905**|
|---|---|---|---|---|---|
||||||_Balance at_
_31_
_December_
_2021_
_£_
_1,038,488_
_17,723_
_455,123_
_1,511,334_|
|**Summary of funds - prior year**||||||
|Designated funds
General funds
Restricted funds||||||
## **16. Analysis of net assets between funds**
**Analysis of net assets between funds - current year**
|**Unrestricted**
**funds**
**2022**
**£**
Tangible fixed assets
933,111
Current assets
195,305
Creditors due within one year
(10,879)
**Total**
1,117,537|**Restricted**
**funds**
**2022**
**£**
444,824
19,544
-
464,368|**Total**
**funds**
**2022**
**£**
**1,377,935**
**214,849**
**(10,879)**
**1,581,905**|
|---|---|---|
Page 25
## **BILLERICAY BAPTIST CHURCH**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022**
## **16. Analysis of net assets between funds (continued)**
## **Analysis of net assets between funds - prior year**
|Tangible fixed assets
Current assets
Creditors due within one year
**Total**|_Unrestricted_
_funds_
_2021_
_£_
_933,495_
_133,679_
_(10,963)_
_1,056,211_|_Restricted_
_funds_
_2021_
_£_
_444,824_
_10,299_
_-_
_455,123_|_Total_
_funds_
_2021_
_£_
_1,378,319_
_143,978_
_(10,963)_
_1,511,334_|
|---|---|---|---|
## **17. Pension commitments**
The charity operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the charity in an independently administered fund. The pension cost charge represents contributions payable by the charity to the fund and amounted to £6,061 (2021: £13,858). Contributions totalling £2,515 (2021: £1,133) were payable to the fund at the balance sheet date and are included in creditors.
## **18. Related party transactions**
Aggregate donations, excluding Gift Aid tax refund, of £10,760 (2021: £25,115) were received by the charity from Trustees and their spouses. There have been no other related party transactions that require disclosure.
Page 26