## **Trustees’ Annual Report for the period**
**From: 01/01/22 Period start date To: 31/12/22 Period end date**
**Charity name: Tove Valley Baptist Fellowship.**
## **Charity registration number: 1179215**
## **Objectives and Activities**
||SORP
reference|**FRS-102**|
|---|---|---|
|Summary of the
purposes of the charity
as set out in its
governing document|Para 1.17|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 and carry
out other charitable purposes in
the United Kingdom and/or other
parts of the world.|
|Summary of the main
activities in relation to
those purposes for the
public benefit, in
particular, the
activities, projects or
services identified in
the accounts.|Para 1.17
and 1.19|**1**In fulfilling the Purpose the
Church will engage in a range of
Activities either on its own or with
others that will vary from time to
time with Activities being initiated,
expanded, or closed, as
appropriate.
**2**The Activities may include but
are not restricted to:
****regular public worship, prayer,
Bible study, preaching and
teaching;
****baptism, as defined in the
Baptist Union’s Declaration of
Principle;
****the Communion of the Lord’s
Supper which shall normally be|
1
|||observed at least once a month;
****evangelism and mission,
locally, regionally, nationally and
internationally;
****the teaching, encouragement,
welcome and inclusion of young
people;
****nurture and growth of Christian
disciples;
****education and training for
Christian and community service;
****giving and encouraging
pastoral care;
****supporting and encouraging
charitable social action in the
United Kingdom and abroad, and;
****encouraging relationships with
and supporting Baptists and other
Christians.
**3**Notwithstanding the
appointment of persons to accept
responsibility for any of the
Activities, all individuals,
organisations, groups, and
committees operating within the
life of the Church, and their
leaders, shall be accountable to
the Charity Trustees and also
through any specific direction of
the Church Members’ Meeting.|
|---|---|---|
|Statement confirming
whether the trustees
have had regard to the
guidance issued by the
Charity Commission
on public benefit|Para 1.18|The trustees are aware of the
requirements of the Charities Act
2011 regarding the reporting of
the public benefit of the charity.
The trustees recognise that, for
the accounting period ending
31 December 2022, the trustees'
report is required to include such
a report. In setting the charity’s
objectives and planning activities,|
2
the trustees and management have given consideration to the Charity Commission’s general guidance on public benefit and believe that the charity meets the public benefit requirement.
## **Additional information (optional)**
|**Additional information (optional)**|**Additional information (optional)**|**Additional information (optional)**|
|---|---|---|
|You may choose to include further statements where relevant about:|||
||SORP
reference||
|Policy on grant making|Para 1.38||
|Policy on social
investment including
program related
investment|Para 1.38||
|Contribution made by
volunteers|Para 1.38||
|Other|||
|**Achievements and Performance**|||
||SORP
reference||
|---|---|---|
|Summary of the main
achievements of the
charity, identifying the
difference the charity’s
work has made to the
circumstances of its
beneficiaries and any|Para 1.20|Expressing God’s heartbeat in the
community through social action,
involvement in a local food bank and
“Wellbeing Cafe” Tots groups,
education projects in local schools,
youth and summer holiday clubs,
andpromotingsocial cohesion.|
3
wider benefits to Sharing the gospel of Jesus Christ in society as a whole. word and deed.
## **Additional information (optional)**
## You may choose to include further statements where relevant about:
|
Achievements against
objectives set|
Para 1.41||
|---|---|---|
|Performance of
fundraising activities
against objectives set|Para 1.41||
|Investment
performance against
objectives|Para 1.41||
|Other|||
4
## **Financial Review**
|Review of the charity’s
financial position at the
end of the period|Para 1.21|Income for the period was £188188,
compared with expenditure of
£182339.
We were able to donate over £9,000
to various charities that we
supported during the period, and
help those in need, as best we
could, through our benevolent fund.
We supported the work of a full time
pastor until July 2020 when he
retired, and a part-time Youth,
Children and Families Team Leader.
Work began to build the Tove Valley
Centre during March 2020, however
because of the pandemic
construction was delayed and only
resumed during May.|
|---|---|---|
|Statement explaining
the policy for holding
reserves stating why
they are held|Para 1.22|In accordance with Baptist Union
recommendations, we hold about 3
months cash reserves.|
|Amount of reserves
held|Para 1.22|£25,000|
|Reasons for holding
zero reserves|**Para 1.22**|Not applicable|
|Details of fund
materially in deficit|Para 1.24|Not applicable|
|Explanation of any
uncertainties about the
charity continuing as a
going concern|Para 1.23|None|
## **Additional information (optional)**
5
## You may choose to include further statements where relevant about:
|
The charity’s principal
sources of funds
(including any
fundraising)|
Para 1.47||
|---|---|---|
|Investment policy and
objectives including
any social investment
policy adopted|Para 1.46||
|A description of the
principal risks facing
the charity|Para 1.46||
|Other|||
6
## **Structure, Governance and Management**
|Description of charity’s
trusts:|||
|---|---|---|
|Type of governing
document|Para 1.25|Constitution|
|How is the charity
constituted?|Para 1.25|As A Charitable Incorporated
Organisation.|
|Trustee selection
methods including
details of any
constitutional
provisions e.g. election
to post or name of any
person or body entitled
to appoint one or more
trustees|Para 1.25|The Church Members’ Meeting shall
appoint Charity Trustees chosen
from among Church Members,to be
responsible for the governance of
the Church. Where there is a
Minister that person is a Charity
Trustee because of their role and
responsibilities. Subject to any
specific or general directions of the
Church Members’ Meeting the
control, management, and
administration of the Church shall be
by the Charity Trustees, save that
the Charity Trustees are not required
to do anything that would cause
them to be in breach of its
Constitution or any trustee duty
placed upon them as a result of this
role.
No person may serve as a Charity
Trustee if they are disqualified.
In this Church it shall be the
Minister(s) if any and Leadership
Team comprising:
Deacons;
Elders;
the Secretary, and;
the Treasurer
who together are the
CharityTrustees of the Church|
## **Additional information (optional)**
7
## You may choose to include further statements where relevant about:
|
Policies and
procedures adopted
for the induction and
training of trustees|
Para 1.51||
|---|---|---|
|The charity’s
organisational
structure and any
wider network with
which the charity
works|Para 1.51||
|Relationship with any
related parties|Para 1.51||
|Other|||
## **Reference and Administrative details**
|Charity name|Tove Valley Baptist Fellowship|
|---|---|
|Other name the charity
uses|None|
|Registered charity
number|1179215|
|Charity’s principal
address|The Secretary.
Tove Valley Centre
Northampton Road
Towcester
NN12 7AH|
8
## **Names of the charity trustees who manage the charity**
||**Names of the**
**charity trustees**
**who manage the**
**charity**||||
|---|---|---|---|---|
|1
2
3
4
5
6
7
8
9
10
11
12|**Trustee name**|**Office (if any)**|**Dates acted if**
**not for whole**
**year**|**Name of person**
**(or body) entitled**
**to appoint trustee**
**(if any)**|
||Paul Knight|Pastor|Retired July20||
||Melanie Whitlock|Youth,Children and
Families Team Lead|||
||Su Brazell|Secretary|||
||RosemaryFischer|Asst Secretary|||
||Edgar Thompson|Treasurer TVBF|Retired Nov 20||
||Colin Richardson|Asst Treasurer TVBF|||
||Mark Senior||||
||Emi Farnham||||
||Ben Hare||||
||Chris Johnson||||
||Richard Owen||||
||Loretta Boreham||||
9
## **– Corporate trustees names of the directors at the date the report was approved**
**Director name** None
Name of trustees holding title to property belonging to the charity
|**Trustee name**|**Dates acted if not for**
**whole year**||
|---|---|---|
|None|||
||||
||||
||||
||||
||||
10
|**Funds held as custodian trustees on behalf of others**|**Funds held as custodian trustees on behalf of others**|
|---|---|
|Description of the
assets held in this
capacity|None|
|Name and objects of
the charity on whose
behalf the assets are
held and how this falls
within the custodian
charity’s objects|N/A|
|Details of
arrangements for safe
custody and
segregation of such
assets from the
charity’s own assets|N/A|
## **Additional information (optional)**
**Names and addresses of advisers (Optional information)**
**Type of adviser Name Address**
**Name of chief executive or names of senior staff members (Optional information)**
## **Exemptions from disclosure**
11
## **Reason for non-disclosure of key personnel details**
N/A
**Declarations The trustees declare that they have approved the trustees’ report above. Signed on behalf of the charity’s trustees Signature(s) Full name(s)** Edgar Thompson **Position (eg Secretary,** Treasurer **Chair, etc)**
**Date** 29 Jun 2023
12
## **TOVE VALLEY BAPTIST FELLOWSHIP**
**CHARITY NUMBER 1179215**
## **FINANCIAL STATEMENTS**
**FOR THE YEAR ENDED**
**31st DECEMBER 2022**
Page 1
## **TOVE VALLEY BAPTIST FELLOWSHIP**
CONTENTS Page 3 Examiner's Report to Trustees Page 4 Statement of Financial Activities Page 5 Balance Sheet Pages 6 to 15 Notes to the Financial Statements
Page 2
## **INDEPENDENT EXAMINER'S REPORT TO THE**
## **TRUSTEES OF TOVE VALLEY BAPTIST FELLOWSHIP**
My report on the financial statements on the following pages for the year ended 31 December 2022 which have been prepared in accordance with the Charities Act 2011 (the Act) and with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014.
## **Respective responsibilities of Trustees and Independent Examiner**
The charity's trustees consider that an audit is not required for this year under section 144 of the Charities Act 2011 and that an independent examination is needed. I am qualified to undertake the examination by being a qualified member of the Chartered Institute of Management Accountants.
It is my responsibility to:
- examine the accounts (under section 145 of the Act),
- to follow the procedures laid down in the General Directions given by the Charity Commission (under section 145(5)(b) of the Act), and
- to state whether particular matters have come to my attention.
## **Basis of Examiner's Statement and scope of work undertaken**
My examination was carried out in accordance with the General Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and the seeking of explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and, consequently, no opinion is given as to whether the accounts present a 'true and fair' view and the report is limited to those matters set out in the statement below.
## **Independent examiner's statement**
In connection with my examination, no matter has come to my attention:
- 1) Which gives me reasonable cause to believe that, in any material respect, the requirements:
- to keep accounting records in accordance with Section 130 of the Act
- to prepare accounts which accord with the accounting records and comply with the accounting requirements of the Charities Act
have not been met; or
- 2) to which in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Dated 16/06/2023 For and on behalf of: Tove Accountancy Ltd
Office 6, Town Hall, 86 Watling Street East, Towcester, Northants, NN12 6BS
Page 3
## **TOVE VALLEY BAPTIST FELLOWSHIP**
## **STATEMENT OF FINANCIAL ACTIVITIES for the year ended 31st December 2022**
|**Notes**
**INCOME**
**Donations and Legacies**
Weekly offerings
3
Donations
4a
Grants
4a
Gift Aid tax refunds
3 and 4a
Weston project
5e
**Charitable Activities**
Youth Club
3
Sundry
3
**Investment**
Investment income
3
Interest
3
**Other**
Rental income
3
**TOTAL INCOMING RESOURCES**
**EXPENDITURE**
Costs of Raising Funds
Charitable Activities
Other Expenditure
6d
**TOTAL RESOURCES USED**
**NET INCOMING RESOURCES**
Revaluation of assets
Transfers between funds
balances brought forward
**BALANCES CARRIED FORWARD**|Restated
**2022**
**2021**
**Unrestricted**
**Endowment**
**Restricted**
**Total**
**Total**
**£**
**£**
**£**
**£**
**£**
83,431
0
0
83,431
56,289
0
46,813
0
46,813
58,083
0
3,250
0
3,250
1,012
15,039
6,013
0
21,052
47,491
0
0
2,280
2,280
405
1,502
0
0
1,502
3,555
1,053
0
0
1,053
2,543
0
0
0
0
500
2
0
0
2
313
28,805
0
0
28,805
28,290|
|---|---|
||**129,832**
**56,076**
**2,280**
**188,188**
**198,481**|
||0
0
0
0
0
129,415
32,599
949
162,963
135,859
19,376
0
0
19,376
0|
||**148,791**
**32,599**
**949**
**182,339**
**135,859**|
||**-18,959**
**23,477**
**1,331**
**5,849**
**62,622**
0
0
0
0
0
-1,245
-11,480
1,877
-10,848
-80,176
821,994
722,739
9,284
1,554,017
1,571,571|
||**801,791**
**734,736**
**12,492**
**1,549,019**
**1,554,017**|
1. Movements of all reserves and all recognised gains and losses are shown above.
2. All of the charity's operations are classed as ongoing.
3. The notes on pages 6 to 15 form part of these financial statements
Page 4
## **TOVE VALLEY BAPTIST FELLOWSHIP**
## **BALANCE SHEET AS AT 31ST DECEMBER 2022**
|**Notes**
**Fixed Assets**
Non-monetary assets
2
**Current Assets**
Debtors
12
Cash at bank and in-hand
9
Other monetary assets
8
**Creditors**: amounts falling due within one year
10
**NET CURRENT ASSETS**
**TOTAL ASSETS**less current liabilities
**Creditors**: amounts falling due after one year
**NET ASSETS**
**CAPITAL AND RESERVES**
General Funds
3
Endowment funds
New Christian Centre funds
4a
Restricted Funds
Mission fund
5a
Benevolent fund
5b
Capital Renewal 1% Gen
5f
TVC fund
5g
Weston Funds
5e
Revaluation Reserve
Date approved by the trustees
and|**£**
**£**
1,896,524
100,229
135,283
3,343
238,855
586,359
-347,504
1,549,019
0
**1,549,019**
597,256
734,736
734,736
352
0
3,288
2,161
6,691
12,492
204,535
**1,549,019**
**2022**|**£**
**£**
1,935,251
113,812
110,760
3,341
227,913
609,147
-381,234
1,554,017
0
**1,554,017**
617,459
722,739
722,739
352
-928
3,288
2,161
4,411
9,284
204,535
**1,554,017**
**2021**
**Restated**|**£**
**£**
1,935,251
113,812
110,760
3,341
227,913
609,147
-381,234
1,554,017
0
**1,554,017**
617,459
722,739
722,739
352
-928
3,288
2,161
4,411
9,284
204,535
**1,554,017**
**2021**
**Restated**|
|---|---|---|---|
||||**1,554,017**|
||||617,459
722,739|
||||722,739
352
-928
3,288
2,161
4,411|
||||9,284
204,535|
||||**1,554,017**|
|||||
Signed on their behalf by Trustee
Page 5
**TOVE VALLEY BAPTIST FELLOWSHIP**
## **NOTES TO THE STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST DECEMBER 2022**
## **1. BASIS OF ACCOUNTING**
The accounts (financial statements) have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts. The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011.
Voluntary income is received by way of donations and gifts. It is shown in the full Statement of Financial Activities when received. Gifts in Kind are valued at their estimated value to the charity and are included under the appropriate headings.
Intangible income is valued and included in the income to the extent that it represents goods or services which would otherwise be purchased. Where it is difficult or not possible to value the goods or services, such as volunteer time, the accounts do not include them.
Grants, including grants for the purchase of fixed assets, are recognised in full in the Statement of Financial Activities in the year in which they are received.
Restricted funds are to be used for specified purposes as required by the donor. Expenditure which meets these criteria is allocated to the relevant fund. Income derived from these funds is retained within the funds concerned.
Designated funds are unrestricted funds which the trustees have designated to be used for a specific purpose. Where these funds yield investment income, this is available for general purposes.
Unrestricted funds are funds which are not designated or restricted.
|Fixed assets
|are for use by the charity in fulfilling its main charitable objectives and are capitalised and depreciated at the|are for use by the charity in fulfilling its main charitable objectives and are capitalised and depreciated at the|
|---|---|---|
|following rates:|||
||Buildings|2% reducing balance|
||Furniture & Equipment|25% reducing balance|
The rates chosen are calculated to write off the cost of the asset over its estimated useful life of serving the charity.
Tove Valley Baptist Fellowship became a charitable incorporated organisation (CIO) on 31st March 2019 and all assets were transferred across at current written down value.
## **2. FIXED ASSETS**
|**Deemed Cost :**
Cost brought forward 1 January 2022
Additions
Disposals
Revaluation
As at 31st December 2022
**Depreciation :**
Depreciation brought forward 1 January 2022
Disposals
Charge for the year
As at 31st December 2022
**Net Book Value**
As at 31st December 2022
As at 31st December 2021|**Property**
**Furniture &**
**Equipment**
**£**
**£**
2,043,811
4,510
0
0
0
0
0
0
2,043,811
4,510
108,658
4,412
0
0
38,703
25
147,361
4,437
1,896,450
73
1,935,153
98|**Total**
**£**
2,048,321
0
0
0|
|---|---|---|
|||2,048,321|
|||113,070
0
38,728|
|||151,797|
||||
|||1,896,524|
||||
|||1,935,251|
Page 6
## **TOVE VALLEY BAPTIST FELLOWSHIP**
## **NOTES TO THE STATEMENT OF FINANCIAL ACTIVITIES (continued) FOR THE YEAR ENDED 31ST DECEMBER 2022**
|**3. GENERAL FUNDS**
**Notes**
**Income**
Weekly offerings
Gift aid tax refunds
Investment income
Rental income
Youth Club
Sundry
7
Interest
**Expenditure**
Pastors costs
6a
Youth work
6b
Church expenses
6c
Other expenses
6d
**Total Resources Used**
**Income over expenditure**
Transfers between funds
Revaluation of property
Balances brought forward
**Balances carried forward**|**Unrestricted**
**Endowment**
**Restricted**
**2022**
**2021**
**Funds**
**Funds**
**Funds**
**Total**
**Total**
**£**
**£**
**£**
**£**
**£**
83,431
83,431
56,289
15,039
15,039
30,405
0
0
500
28,805
28,805
28,290
1,502
1,502
3,555
1,053
1,053
2,543
2
2
313|
|---|---|
||**129,832**
**129,832**
**121,895**|
||20,681
20,681
35,741
25,637
25,637
2,392
83,097
83,097
75,898
19,376
19,376
0|
||**148,791**
**148,791**
**114,031**|
||**-18,959**
**-18,959**
**7,864**
-1,245
-1,245
-16,996
0
0
0
617,460
617,460
626,592|
||**597,257**
**597,257**
**617,460**|
Page 7
## **TOVE VALLEY BAPTIST FELLOWSHIP**
## **NOTES TO THE STATEMENT OF FINANCIAL ACTIVITIES (continued) FOR THE YEAR ENDED 31ST DECEMBER 2022**
|**4. ENDOWMENT FUNDS**
**Notes**
**(a) NEW CHRISTIAN CENTRE FUND**
**Income**
Donations
Grants
Gift aid tax refunds
Investment income
**Total Income**
**Expenditure**
Sundries
Professional fees
**Total Expenditure**
**Net Income**
Transfers between funds
Balances brought forward
**Balances carried forward**|**Unrestricted**
**Endowment**
**Restricted**
**2022**
**2021**
**Funds**
**Funds**
**Funds**
**Total**
**Total**
**£**
**£**
**£**
**£**
**£**
46,813
46,813
58,083
3,250
3,250
1,012
6,013
6,013
17,086
0
0
0|
|---|---|
||**56,076**
**56,076**
**76,181**|
||32,599
32,599
21,828
0
0
0|
||**32,599**
**32,599**
**21,828**|
||**23,477**
**23,477**
**54,353**
-11,480
-11,480
-63,180
722,739
722,739
731,566|
||**734,736**
**734,736**
**722,739**|
Page 8
## **TOVE VALLEY BAPTIST FELLOWSHIP**
## **NOTES TO THE STATEMENT OF FINANCIAL ACTIVITIES (continued) FOR THE YEAR ENDED 31ST DECEMBER 2022**
|**5. RESTRICTED FUNDS**
**Notes**
**(a) MISSION FUND**
**Income**
Donations
Gift aid tax refunds
Interest
**Total Income**
**Expenditure**
Expenses
**Total Expenditure**
**Net Income**
Transfers between funds
Balances brought forward
**Balances carried forward**
**5. RESTRICTED FUNDS**
**(b) BENEVOLENT FUND TOWCESTER**
**Notes**
**Income**
Donations
Interest
Gift aid refunds
**Total Income**
**Expenditure**
Expenses
**Total Expenditure**
**Net Income**
Transfers between funds
Balances brought forward
**Balances carried forward**|**Unrestricted**
**Endowment**
**Restricted**
**2022**
**2021**
**Funds**
**Funds**
**Funds**
**Total**
**Total**
**£**
**£**
**£**
**£**
**£**
0
0
0
0
0
0
0
0
0|
|---|---|
||**0**
**0**
**0**|
||0
0
0|
||**0**
**0**
**0**|
||**0**
**0**
**0**
0
0
0
352
352
352|
||**352**
**352**
**352**|
||**Unrestricted**
**Endowment**
**Restricted**
**2022**
**2021**
**Funds**
**Funds**
**Funds**
**Total**
**Total**
**£**
**£**
**£**
**£**
**£**
0
0
0
0
0
0
0
0|
||**0**
**0**
**0**|
||949
949
0|
||**0**
**949**
**949**
**0**|
||**-949**
**-949**
**0**
1,877
1,877
0
-928
-928
-928|
||**0**
**0**
**-928**|
Page 9
## **TOVE VALLEY BAPTIST FELLOWSHIP**
## **NOTES TO THE STATEMENT OF FINANCIAL ACTIVITIES (continued) FOR THE YEAR ENDED 31ST DECEMBER 2022**
|**5. RESTRICTED FUNDS**
**(c) WESTON FUNDS**
**Notes**
**Income**
Donations
Rental income
Interest
**Total Income**
**Expenditure**
Expenditure
**Total Expenditure**
**Net Income**
Transfers between funds
Balances brought forward
**Balances carried forward**
**5. RESTRICTED FUNDS**
**(d) CAPITAL RENEWAL 1% GEN**
**Notes**
**Income**
Donations
Gift aid tax refunds
Interest
**Total Income**
**Expenditure**
Expenditure
**Total Expenditure**
**Net Income**
Transfers between funds
Balances brought forward
**Balances carried forward**|**Unrestricted**
**Endowment**
**Restricted**
**2022**
**2021**
**Funds**
**Funds**
**Funds**
**Total**
**Total**
**£**
**£**
**£**
**£**
**£**
700
700
405
1,580
1,580
0
0
0
0|
|---|---|
||**2,280**
**2,280**
**405**|
||0
0
0|
||**0**
**0**
**0**|
||**2,280**
**2,280**
**405**
0
0
0
4,411
4,411
4,006|
||**6,691**
**6,691**
**4,411**|
||**Unrestricted**
**Endowment**
**Restricted**
**2022**
**2021**
**Funds**
**Funds**
**Funds**
**Total**
**Total**
**£**
**£**
**£**
**£**
**£**
0
0
0
0
0
0
0
0
0|
||**0**
**0**
**0**|
||0
0
0|
||**0**
**0**
**0**|
||**0**
**0**
**0**
0
0
0
3,288
3,288
3,288|
||**3,288**
**3,288**
**3,288**|
Page 10
## **TOVE VALLEY BAPTIST FELLOWSHIP**
## **NOTES TO THE STATEMENT OF FINANCIAL ACTIVITIES (continued) FOR THE YEAR ENDED 31ST DECEMBER 2022**
## **5. RESTRICTED FUNDS**
|**5. RESTRICTED FUNDS**||
|---|---|
|**(e) TVC FUND**
**Notes**
**Income**
Donations
Gift aid tax refunds
Interest
**Total Income**
**Expenditure**
Expenditure
**Total Expenditure**
**Net Income**
Transfers between funds
Balances brought forward
**Balances carried forward**|**Unrestricted**
**Endowment**
**Restricted**
**2022**
**2021**
**Funds**
**Funds**
**Funds**
**Total**
**Total**
**£**
**£**
**£**
**£**
**£**
0
0
0
0
0
0
0
0
0|
||**0**
**0**
**0**|
||0
0
0|
||**0**
**0**
**0**|
||**0**
**0**
**0**
0
0
0
2,161
2,161
2,161|
||**2,161**
**2,161**
**2,161**|
Page 11
## **TOVE VALLEY BAPTIST FELLOWSHIP**
## **NOTES TO THE STATEMENT OF FINANCIAL ACTIVITIES (continued) FOR THE YEAR ENDED 31ST DECEMBER 2022**
|**6. GENERAL RESOURCES USED**
**Notes**
**(a) Pastors costs**
Stipend
Employers NI
Pension contribution
Water rates - Manse
Repairs - Manse
Expenses
Telephone
Lighting/heating
Council tax
Insurance - Manse
**(b) Payments - Youth Work & Sunday School**
Youth work
Youth Club
Sunday School supplies
**(c) Payments - Church expenses**
Books & Publishing
Lighting/heating
Water rates
Hire of premises
Insurance
Accounts compilation fees
Printing/stationery
Telephone
Advertising
Repairs
IT costs
Conferences and subscriptions
Evangelism
Mums & Tots
Sundries
Professional Fees
Bank Charges
Training/Courses
Staff costs
Home Mission
Depreciation
**(d) Payments - other expenses**
Weston manse rental costs|**Unrestricted**
**Endowment**
**Restricted**
**2022**
**2021**
**Funds**
**Funds**
**Funds**
**Total**
**Total**
**£**
**£**
**£**
**£**
**£**
9,511
9,511
23,728
0
0
0
3,923
3,923
6,616
183
183
0
5,136
5,136
2,399
264
264
954
66
66
247
98
98
1,452
1,206
1,206
0
294
294
345|
|---|---|
||**20,681**
**20,681**
**35,741**|
||23,072
23,072
323
2,134
2,134
1,683
431
431
386|
||**25,637**
**25,637**
**2,392**|
||0
0
0
4,791
4,791
4,226
367
367
287
0
0
0
3,654
3,654
6,463
0
0
0
464
464
50
456
456
368
468
468
0
4,803
4,803
2,140
2,365
2,365
894
558
558
601
3,190
3,190
689
169
169
347
6,823
6,823
5,109
0
0
0
113
113
8
0
0
0
12,510
12,510
5,186
3,638
3,638
9,622
38,728
38,728
39,908|
||**83,097**
**83,097**
**75,898**|
||19,376
19,376
0|
||**19,376**
**19,376**
**0**|
Page 12
## **TOVE VALLEY BAPTIST FELLOWSHIP**
## **NOTES TO THE STATEMENT OF FINANCIAL ACTIVITIES (continued) FOR THE YEAR ENDED 31ST DECEMBER 2022**
|**Unrestricted**
**Endowment**
**Restricted**
**Funds**
**Funds**
**Funds**
**7. RECEIPTS - Sundry income**
**£**
**£**
**£**
Mums & Tots
Sundry income
1,053
Leeson Court
0
Ladies breakfast/lunch
0
The Giving machine
0
Refund cleaner
0
**1,053**
**8. OTHER MONETARY ASSETS**
Held for investments:
Towcester
Helmdon
New Christian Centre
**9. CASH AT BANK AND IN HAND**
Cash
Bank Current Account
Bank Building Account
Youth Club
**10. CREDITORS : AMOUNTS FALLING DUE WITHIN ONE YEAR**
Accruals
Loan
**11. STAFF COSTS AND NUMBERS**
Gross Wages and Salaries
National Insurance Contributions
Pension
No employees received employee benefits exceeding £60,000.
The average monthly number of employees during the period were as follows :
Pastors|**Unrestricted**
**Endowment**
**Restricted**
**Funds**
**Funds**
**Funds**
**£**
**£**
**£**
1,053
0
0
0
0|**2022**
**2021**
**Total**
**Total**
**£**
**£**
0
43
1,053
2,500
0
0
0
0
0
0
0
0|
|---|---|---|
||**1,053**|**1,053**
**2,543**|
|||**2022**
**2021**
**£**
**£**
1,251
1,251
2,092
2,090
0
0|
|||**3,343**
**3,341**|
|||**2022**
**2021**
**£**
**£**
0
0
67,627
71,837
66,372
37,050
1,284
1,873|
|||135,283
110,760|
|||**2022**
**2021**
**£**
**£**
1,096
750
585,263
608,397|
|||**586,359**
**609,147**|
|||**2022**
**2021**
**£**
**£**
14,552
28,769
145
145
3,923
6,616|
|||**18,620**
**35,530**|
|||1
1|
## **Pension Costs**
The Charity operates a contributory pension scheme. It is a defined contribution scheme and contributions are charged in the statement of financial activities as they accrue.
|**12. DEBTORS**
Endowment:
Helmdon – net proceeds held by Baptist Union
Unrestricted|**2022**
**2021**
**£**
**£**
100,229
113,812
0
0|
|---|---|
||**100,229**
**113,812**|
||Page 14|
**TOVE VALLEY BAPTIST FELLOWSHIP**
## **NOTES TO THE STATEMENT OF FINANCIAL ACTIVITIES (continued) FOR THE YEAR ENDED 31ST DECEMBER 2022**
## **13. PAYMENTS TO TRUSTEES**
1 or more trustees has been paid remuneration or has received other benefits from employment with the charity.
|M Whitlock has been paid for employed services as the pastor.|M Whitlock has been paid for employed services as the pastor.|
|---|---|
|Salary|£20,658|
|Pension contributions|£751|
|6 trustees have claimed £2864 expenses||
|Evangelism|£445|
|Office|£15|
|IT|£415|
|Weston Maintenance|£34|
|TVC Maintenance|£69|
|Manse maintenance|£799|
|Cleaning/consumables|£810|
|Sundry Church costs|£277|
||£2,864|
There were no related party transactions for the period.
## **14. PENSION SCHEME LIABILITIES**
The Church is a participating employer the Baptist Pension Scheme (“the Scheme”), which is a separate legal entity administered by the Pension Trustee (Baptist Pension Trust Limited). The assets of the Scheme are held separately from those of the Employer and the other participating employers
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. Prior to this date the main benefit provided through the Defined Benefit (DB) Plan was a 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. Since 1 January 2012, benefits have been provided through a Defined Contribution (DC) Plan.
A formal valuation of the DB Plan as at 31 December 2016 by a professionally qualified Actuary using the Projected Unit Method. At the valuation date the market value of the DB Plan assets was £219 million, whilst the level of assets needed to pay benefits was £312m, giving a deficit of £93m (equivalent to a past service funding level of 70%). The Church and the other participating employers in the DB Plan are collectively responsible for funding this deficit. The next actuarial valuation of the DB Plan within the Scheme is due to take place not later than as at 31 December 2019.
Page 15
TOVE VALLEY BApnsTFELLOWSHIP
8AiANCE SHEET
AS AT31ST DECEMBER 2022
Restated
2021
Z022
Not•s
Flx¢d Assets
Non-monetary assets
IA96,524
1,935,251
Current A55¢ts
Debtors
Cash at bank and in-hand
Other monetary a55ers
12
ILK).229
135,283
3,343
238.855
113,812
110,760
3,341
227,913
cr•d0.. amounts fallin¢ due wrthin one year
io
586.359
609.147
NETCURRENT AS5Ers
.347.504
-381.234
TOTAL ASSEfs less current li•bllStles
1,549,019
I,S54,017
Credltor5'. amounts fallln8 due after gfie year
NET ASSETS
1,549,019
1.554,017
CAPITALAND RESEAVES
General Funds
Endowment funds
New Christian Centr¢fund5
597,256
617.459
734,736
734,736
722,739
722.739
Re5trided Funds
Mission fund
Benevolent Ivnd
Capital Rtnowal 156 Gen
TVC fund
Weston Funds
352
352
-928
3,788
2,161
4,411
9,2B4
5b
51
58
3,288
2,161
6,691
12,492
Revalv•iion Rese
204.53S
204.535
1.549.019
1,554,017
Date 3pproved by the tru5tee5
and
211/,,
Signed on their behalf bv
TTU5tee
Pa8e 5