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2021-05-31-accounts

Ivybridge Baptist Church

Charity No. 1178516

Company No. CE014208

Trustees' Report and Unaudited Accounts

31 May 2021

Ivybridge Baptist Church Contents

Pages
Trustees' Annual Report 2 to 4
Independent Examiner's Report 5
Statement of Financial Activities 6
Summary Income and Expenditure Account 7
Balance Sheet 8
Statement of Cash flows 9
Notes to the Accounts 10 to 17
Detailed Statement of Financial Activities 18 to 19

Page 1

Ivybridge Baptist Church Trustees Annual Report

The Trustees, who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the unaudited financial statements of the charity for the year ended 31 May 2021.

REFERENCE AND ADMINISTRATIVE DETAILS

Company No. CE014208

Charity No. 1178516

Principal Office

Ivybridge Baptist Church Exeter Road Ivybridge Devon PL21 0BJ

Registered Office

Ivybridge Baptist Church Exeter Road Ivybridge Devon PL21 0BJ

Directors and Trustees

The Directors of the charitable company are its Trustees for the purposes of charity law. The following Directors and Trustees served during the year:

N. Bell

M. Hulbert I. MacGregor I. Rush (Resigned 3 September 2020) A. Sutton

Key Management Personnel

Pastor I. MacGregor Treasurer A. Sutton Deacon N. Bell Associate Pastor I. Rush Elder M. Hulbert

Accountants

Ivybridge Accountants Ltd 15 Erme Court Leonards Road

Page 2

Ivybridge Baptist Church Trustees Annual Report

Ivybridge Devon PL21 0SZ

Bankers

Address Line 5

Solicitors

Address Line 5

Investment Advisors

Address Line 5

OBJECTIVES AND ACTIVITIES

The purposes of the church are: 1) the advancement of the Christian faith in accordance with the basis of faith primarily but not exclusively within Ivybridge and the surrounding neighbourhood; and 2) such other charitable purposes as shall, in the opinion of the members of the church in a general meeting, put into practice the Christian faith in accordance with the basis of faith.

There are three main identifiable benefits to the public or sections of the public that flow from the church fulfilling its purposes: 1. Those who come to know and continue in the love of God report that accepting the love of God in Jesus Christ was the best decision they ever made and that knowing this love gives them strength in their everyday life. 2. Advancing the Christian Faith promotes a moral framework. This framework is outlined in the Bible, the Old Testament being interpreted by the New Testament. A summary of the framework is the command for people to love God with their heart, soul, mind and strength and love one's neighbour as oneself. An exposition of the framework can be found in chapters 5-7 of the Gospel of Matthew. Church members are encouraged to live out their faith within the community and to put this moral framework into practice in their everyday lives with everyone they interact with and so this benefits the members of the public who interact with members of the congregation each day. 3. It is for the public good that the main beliefs of the Christian Faith are made known in society, even if people disagree with the Christian message, because this enables people to make informed choices concerning religious belief and contributes towards a free society where different ideas and beliefs are widely known by the public.

ACHIEVEMENTS AND PERFORMANCE

This past year has been dominated by restrictions due to coronavirus and our gradual steps back towards normality. Our church covid risk assessment was regularly reviewed and updated as government rules changed in response to the pandemic. Our Church trustees aim was to create an environment that allowed our church family to worship the Lord together in a meaningful way, but also adhered to government guidance for the safety of those attending, from Covid-19.

Sunday morning services resumed on 12th July 2020 with social distancing & other government measures in place. Thursday evening meetings in the church re-commenced on 30th July 2020.

All in-person meetings ceased briefly in November, but the Sunday morning service resumed in December. The Thursday evening meetings resumed via Zoom.

Page 3

Ivybridge Baptist Church Trustees Annual Report

Our Christmas Eve carols by candlelight service was replaced by a Drive-in carol service at Tesco’s Lee Mill car park with other churches in Ivybridge on Sunday 13th December.

Each of the 4 Ivybridge churches depicted a different scene from the Christmas story either outside their building or visible through a window. At each stop, the relevant part of the Bible account, along with a carol, was accessible by a smartphone QR code. Our church’s Christmas scene was the Wise Men.

The idea was repeated again at Easter, with our church displaying the Last Supper that Jesus spent with His disciples, on the evening before His crucifixion.

Evening services continued to be pre-recorded and placed on the church web-site throughout the year of this report.

In April 2021 we recommenced the creche for under 5’s during the Sunday morning service

In September 2020 our associate pastor moved to another church in the Midlands, after working with us for a couple of years.

Several other elderly members moved away to be nearer their families, but others began worshipping regularly with us, including another young family.

We continue to look to the Lord to guide and direct our paths as we navigate a path through the covid pandemic, balancing the risks involved in personal contact, with our desire to obey scripture and worship corporately in person. We trust that the Lord will continue to grant the trustees wisdom & discernment in the decisions we take.

FINANCIAL REVIEW

Reserves continue to be sufficient to meet the needs of the charity.

PLANS FOR FUTURE PERIODS

A large charity's report should explain the trustees perspective of the future direction of the charity...

STRUCTURE, GOVERNANCE AND MANAGEMENT

The charity is constituted as a Charitable Incorporated Organisation. The governing document is a Church Constitution.

Trustees are usually selected from our congregation and are elected by existing members.

The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Companies Act 2006. The Trustees are also responsible for safeguarding the assets of the charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities.

The above report has been prepared in accordance with the provisions applicable to companies subject to the small companies regime as set out in Part 15 of the Companies Act 2006 and in accordance with the Charities SORP (FRS 102).

Signed on behalf of the board

A. Sutton Trustee

20 December 2021

Page 4

Ivybridge Baptist Church Independent Examiners Report

Independent Examiner's Report to the trustees of Ivybridge Baptist Church

I report to the charity trustees on my examination of the accounts of Ivybridge Baptist Church for the year ended 31 May 2021 which comprise the Statement of Financial Activities, the Summary Income and Expenditure Account, the Balance Sheet, the Statement of Cash Flows and the related notes.

Responsibilities and basis of report

As the trustees of the charity (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act.

Having satisfied myself that the accounts of the charity are not required to be audited under Part 16 of the 2006 Act 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 Charities Act 2011 ('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 can confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that:

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.

Simon Jilks ACCA Ivybridge Accountants Ltd 15 Erme Court Leonards Road Ivybridge Devon PL21 0SZ 20 December 2021

Page 5

Ivybridge Baptist Church Statement of Financial Activities

for the year ended 31 May 2021

Notes
Income and endowments
from:
Donations and legacies
4
Other trading activities
5
Total
Expenditure on:
Charitable activities
6
Other
7
Total
Net gains on investments
Net income
8
Transfers between funds
Net income before other
gains/(losses)
Other gains and losses
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Total funds carried forward		 Unrestricte
d funds
2021
£
51,436
317		 Restricted
funds
2021
£
510
-		 Total funds
2021
£
51,946
317		 Total funds
2020
£
84,224
4,550
51,753
1,088
31,769		 510
5,127
7,672		 52,263
6,215
39,441		 88,774
6,040
80,878
32,857
-		 12,799
-		 45,656
-		 86,918
-
18,896
(13,191)		 (12,289)
13,191		 6,607
-		 1,856
-
5,705 902 6,607 1,856
5,705
188,004		 902
27,423		 6,607
215,427		 1,856
213,571
193,709 28,325 222,034 215,427

Page 6

Ivybridge Baptist Church Summary Income and Expenditure Account

for the year ended 31 May 2021

Income
Gross income for the year
Expenditure
Interest payable
Depreciation and charges for
impairment of fixed assets
Total expenditure for the year
Net income before tax for the year
Net income for the year		 2021
£
52,263
52,263
45,368
-
288
45,656
6,607
6,607		 2020
£
88,771
88,771
86,374
153
391
86,918
1,853
1,853

Page 7

Ivybridge Baptist Church Balance Sheet

at 31 May 2021

Company No.
CE014208
Notes
2021
£
Fixed assets
Tangible assets
11
173,489
173,489
Current assets
Debtors
12
2,727
Cash at bank and in hand
55,496
58,223
Creditors:Amount falling due within one year
13
(7,038)
Net current assets
51,185
Total assets less current liabilities
224,674
Creditors:Amounts falling due after more than one year
14
(2,640)
Net assets excluding pension asset or liability
222,034
Total net assets
222,034
The funds of the charity
Restricted funds
15
Restricted income funds
28,325
28,325
Unrestricted funds
15
General funds
193,709
193,709
Reserves
15
Total funds
222,034		 2020
£
173,927
173,927
2,116
55,241
57,357
(6,977)
50,380
224,307
(8,880)
215,427
215,427
27,423
27,423
188,004
188,004
215,427

These accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

For the year ended 31 May 2021 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.

Approved by the board on 20 December 2021

And signed on its behalf by:

I. MacGregor Trustee

20 December 2021

Page 8

Ivybridge Baptist Church Statement of Cash flows for the year ended 31 May 2021

Cash flows from operating activities
Net income per Statement of Financial Activities
Adjustments for:
Depreciation of property, plant and equipment
Loss/(Profit) on disposal of tangible fixed assets
Other gains/losses
(Increase)/Decrease in trade and other receivables
Increase/(Decrease) in trade and other payables
Net cash provided by operating activities
Cash flows from investing activities
Proceeds from sales of property, plant and equipment
Net cash from/(used in) investing activities
Cash flows from financing activities
Repayment of borrowings
Net cash used in financing activities
Net increase/(decrease) in cash and cash equivalents
Cash and cash equivalents at the beginning of the year
Cash and cash equivalents at the end of the year
Components of cash and cash equivalents
Cash and bank balances		 2021
£
6,607
275
13
-
(611)
61
6,345
150
150
(6,240)
(6,240)
255
55,241
55,496
55,496
55,496		 2020
£
1,853
451
(60)
-
167,301
(8,098)
161,447
60
(173,991)
(6,240)
(6,240)
(18,784)
74,022
55,238
55,241
55,241

Page 9

Ivybridge Baptist Church Notes to the Accounts

for the year ended 31 May 2021

Basis of preparation

The financial statements have been prepared 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) (effective 1 January 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Change in basis of accounting or to previous accounts

There has been no change to the accounting policies (valuation rules and method of accounting) since last year and no changes have been made to accounts for previous years.

Fund accounting

Income

Volunteer help The value of any volunteer help received is not included in the accounts. Investment income This is included in the accounts when receivable. Gains/(losses) on This includes any gain or loss resulting from revaluing investments to market value revaluation of fixed at the end of the year. assets Gains/(losses) on This includes any gain or loss on the sale of investments. investment assets

Page 10

Ivybridge Baptist Church Notes to the Accounts

Expenditure

Taxation

The charity is exempt from corporation tax on its charitable activities.

Tangible fixed assets and depreciation

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life:

Plant and machinery 3 Years% Straight Line

Tools and equipment 15%% Reducing Balance

Freehold investment property

Investment properties are measured initially at cost and subsequently at fair value at each balance sheet date and are not depreciated. All gains or losses are taken to the Statement of Financial Activities as they arise.

Stocks

Stock is included at the lower of cost or net realisable value. Donated items of stock are recognised at fair value which is the amount the charity would have been willing to pay for the items on the open market.

Trade and other debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities. In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the company's cash management.

Page 11

Ivybridge Baptist Church Notes to the Accounts

Trade and other creditors

Short term creditors are measured at the transaction price. Other 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. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

Foreign currencies

Monetary assets and liabilities denominated in currencies other than the functional currency of the charity are translated at the rates of exchange prevailing at the end of the reporting period. Transactions in currencies other than the functional currency of the charity are recorded at the rate of exchange on the date that the transaction occurred.

All exchange differences are are taken into account in arriving at net income/expenditure.

Leased assets

Where the charity enters into a lease which entails taking substantially all the risks and rewards of ownership of an asset, the lease is treated as a finance lease.

Leases which do not transfer substantially all the risks and rewards of ownership to charity are classified as operating leases.

Assets held under finance leases are initially recognised as assets of the charity at their fair value at the inception of the lease or, if lower, at the present value of the minimum lease payments. The corresponding liability to the lessor is included in the balance sheet date as a finance lease obligation. Lease payments are apportioned between finance expenses and reduction of the lease obligation so as to achieve a constant rate of interest on the remaining balance of the liability. Finance expenses are recognised immediately, unless they are directly attributable to qualifying assets, in which case they are capitalised in accordance with the charity's policy on borrowing costs.

Assets held under finance leases are depreciated in the same way as owned assets.

Operating lease payments are recognised as an expense on a straight-line basis over the lease term. In the event that lease incentives are received to enter into operating leases, such incentives are recognised as a liability. The aggregate benefit of incentives is recognised as a reduction of rental expense on a straight-line basis.

Pension costs

The charity operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payments obligations. The contributions are recognised as expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.

Receipt of donated goods, facilities and services

All donated goods, facilities and services received are recognised within incoming resources and expenditure at an estimate of the value to the charity.

Page 12

Ivybridge Baptist Church Notes to the Accounts

2 Company status

The company is a private company limited by guarantee and consequently does not have share capital. The company was incorporated in England. The company's registered office is: Ivybridge Baptist Church, Exeter Road, Ivybridge, Devon PL21 0BJ. The charity is a public benefit entity.

3 Statement of Financial Activities - prior year

Income and endowments from:
Donations and legacies
Other trading activities
Total
Expenditure on:
Charitable activities
Other
Total
Net income
Transfers between funds
Net income before other
gains/(losses)
Other gains and losses:
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Total funds carried forward
4
Income from donations and legacies
Offerings and Gifts Giving
General
Pastoral Giving Rec'd		 Unrestricted
£
51,436
-
51,436		 Unrestricted
funds
2020
£
73,888
4,550
78,438
1,811
37,790
39,601
38,837
(38,350)
487
487
187,517
188,004
Restricted
£
510
-
510		 Restricted
funds
2020
£
10,333
-
10,333
4,229
43,088
47,317
(36,984)
38,350
1,366
1,366
26,054
27,420
Total
2021
£
51,946
-
51,946		 Total funds
2020
£
84,221
4,550
88,771
6,040
80,878
86,918
1,853
-
1,853
1,853
213,571
215,424
Total
2020
£
74,224
10,000
84,224

Page 13

Ivybridge Baptist Church Notes to the Accounts

5 Income from other trading activities

Hall Hire
6
Expenditure on charitable activities
Expenditure on charitable
activities
Gifts & Donations
Governance costs
7
Other expenditure
Advertising and Promotional
Literature
Other interest payable
Employee costs
Motor and travel costs
Premises costs
Amortisation, depreciation,
impairment, profit/loss on
disposal of fixed assets
General administrative costs
Legal and professional costs
8
Net income before transfers
This is stated after charging:
Depreciation of owned fixed assets		 Unrestricted
£
1,088
1,088
Unrestricted
£
142
-
25,179
-
3,467
288
1,270
1,424
31,769		 Unrestricted
£
317
317
Restricted
£
5,127
5,127
Restricted
£
-
-
7,551
-
33
-
87
-
7,672
2021
£
275		 Total
2021
£
317
317
Total
2021
£
6,215
6,215
Total
2021
£
142
-
32,730
-
3,500
288
1,357
1,424
39,441		 Total
2020
£
4,550
4,550
Total
2020
£
6,040
6,040
Total
2020
£
397
153
68,069
50
8,954
391
1,437
1,427
80,878
2020
£
451

9 Trustee remuneration and expenses

One or more of the trustees has been paid remuneration in the current or prior periods.

Page 14

Ivybridge Baptist Church
Notes to the Accounts
10 Staff costs
Salaries and wages 32,029 66,026
Social security costs - 755
Pension costs 641 1,118
32,670 67,899
No employee received emoluments in excess of £60,000.
The average monthly number of full time equivalent employees during the year was as follows:
2021 2020
Number Number
Pastoral 2 2
2 2
11 Tangible fixed assets
Land and
buildings		 Plant and
machinery		 Tools and
equipment		 Total
£ £ £ £
Cost or revaluation
At 1 June 2020 172,889 1,107 545 174,541
Disposals - (490) - (490)
At 31 May 2021 172,889 617 545 174,051
Depreciation and
impairment
At 1 June 2020 - 532 82 614
Depreciation charge for the - 206 69 275
year
Disposals - (327) - (327)
At 31 May 2021 - 411 151 562
Net book values
At 31 May 2021 172,889 206 394 173,489
At 31 May 2020 172,889 575 463 173,927
12 Debtors
2021 2020
£ £
Prepayments and accrued income 2,727 2,116
2,727 2,116
13 Creditors:
amounts falling due within one year
2021 2020
£ £
Other loans 6,240 6,240
Other taxes and social security 88 88
Accruals and deferred income 710 649
7,038 6,977

Page 15

Ivybridge Baptist Church Notes to the Accounts

14 Creditors:

14 Creditors: 14 Creditors: 14 Creditors:
amounts falling due after more than one year
Other loans		 2021
£
2,640
2,640		 2020
£
8,880
8,880
15 Movement in funds At 1 June
2020
641
9,538
12,001
3,833
1,410
27,423
188,004
215,427		 Incoming
resources
(including
other
gains/losses)
£
10
500
-
-
-
510
51,753
52,263		 Resources
expended
£		 Gross
transfers
£
-
4,197
4,197
4,197
600
13,191
(13,191)
-		 At 31 May
2021
£
651
14,202
8,647
2,903
1,923
Restricted funds:
Restricted income funds:
Deacons
Building
Pastoral
Missions
Family Ministries Fund
Total
Unrestricted funds:
General funds
Revaluation Reserves:
Total funds
-
(33)
(7,551)
(5,127)
(87)
(12,799)
(32,857)
(45,656)
28,325
193,709
222,034
Purposes and restrictions in relation to the funds: Purposes and restrictions in relation to the funds:
Restricted funds:
Deacons Give gifts to those in need
Building Purchase of church building and ongoing maintenance
Pastoral Help pay assistant pastor
Missions Help pay assistant pastor
Family Ministries Fund Children and youth work

16 Analysis of net assets between funds

Fixed assets
Net current assets
Creditors due in more than one year and
provisions		 Unrestricted
funds
£
6,416
35,337
-
41,753		 Restricted
funds
£
167,073
15,848
(2,640)
180,281		 Total
£
173,489
51,185
(2,640)
222,034

Page 16

Ivybridge Baptist Church Notes to the Accounts

17 Reconciliation of net debt

Cash and cash equivalents
Borrowings
Net debt		 At 1 June
2020
£		 Cash flows
£		 At 31 May
2021
£
55,241 255 55,496
55,241
(15,120)
(15,120)
40,121		 255
6,240
6,240
6,495		 55,496
(8,880)
(8,880)
46,616

18 Commitments

Operating lease commitments

Annual commitments under non-cancellable operating leases are as follows:

2021 2021 2020 2020
Land and
buildings		 Other Land and
buildings		 Other
£ £ £ £
Operating leases with expiry date:
Pension commitments
2021 2020
£ £
The pension cost charge to the company
amounted to: 641 1,118

19 Related party disclosures

Controlling party

The company is limited by guarantee and has no share capital; thus no single party controls the company.

Page 17

Ivybridge Baptist Church Detailed Statement of Financial Activities

for the year ended 31 May 2021

Income and endowments from:
Donations and legacies
Offerings and Gifts Giving General
Pastoral Giving Rec'd
Other trading activities
Hall Hire
Total income and endowments
Expenditure on:
Charitable activities
Gifts & Donations
Total of expenditure on charitable
activities
Other expenditure
Advertising and Promotional
Literature
Other interest payable
Employee costs
Salaries/wages
Employer's NIC
Pension costs
Staff training
Temporary staff
Business mileage costs
reimbursed
Premises costs
Rates
Light, heat and power
Premises insurances
Premises repairs and
maintenance
General administrative costs,
including depreciation and
amortisation		 Unrestricte
d funds
2021
£
51,436
-
51,436
317
317
51,753
1,088
1,088
1,088
142
-
142
24,637
-
482
60
-
25,179
-
-
562
1,205
1,574
126
3,467		 Restricted
funds
2021
£
510
-
510
-
-
510
5,127
5,127
5,127
-
-
-
7,392
-
159
-
-
7,551
-
-
-
-
-
33
33		 Total funds
2021
£
51,946
-
51,946
317
317
52,263
6,215
6,215
6,215
142
-
142
32,029
-
641
60
-
32,730
-
-
562
1,205
1,574
159
3,500		 Total funds
2020
£
74,224
10,000
84,224
4,550
4,550
88,774
6,040
6,040
6,040
397
153
550
66,026
755
1,118
-
170
68,069
50
50
518
5,503
1,554
1,379
8,954

Page 18

Ivybridge Baptist Church Detailed Statement of Financial Activities

Depreciation of Plant and
machinery
Depreciation of Tools and
equipment
Loss on disposal of tangible fixed
assets
Bank charges
Equipment repairs and
maintenance
Stationery and printing
Subscriptions
Sundry expenses
Legal and professional costs
Accountancy and bookkeeping
Other legal and professional
costs
Total of expenditure of other costs
Total expenditure
Net gains on investments
Net income
Transfers between funds
Net income before other
gains/(losses)
Other Gains
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Total funds carried forward		 206
69
13
168
435
219
-
448
1,558
1,103
321
1,424
31,769
32,857
-
18,896
(13,191)
5,705
-
5,705
188,004
193,709		 -
-
-
-
-
-
-
87
87
-
-
-
7,672
12,799
-
(12,289)
13,191
902
-
902
27,423
28,325		 206
69
13
168
435
219
-
535
1,645
1,103
321
1,424
39,441
45,656
-
6,607
-
6,607
-
6,607
215,427
222,034		 369
82
(60)
(1)
60
781
120
477
1,828
1,224
203
1,427
80,878
86,918
-
1,856
-
1,856
-
1,856
213,571
215,427

Page 19