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2021-12-31-accounts

Charity Registration No. 1180106

WORCESTER BAPTIST CHURCH CIO

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2021

WORCESTER BAPTIST CHURCH CIO

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees Darren Smith
Graham Baker
Timothy Prince
Fiona Forth
Hannah Celia (Appointed 18 October
2021)
Christine Baker (Appointed 20 April 2021)
Charity number 1180106
Principal address Sansome Walk
Worcester
WR1 1LN
Independent examiner Kendall Wadley LLP
Granta Lodge
71 Graham Road
Malvern
Worcestershire
WR14 2JS
Investment advisors Charles Stanley & Co Limited
55 Calthorpe Road,
Edgbaston,
Birmingham
B15 1TH

WORCESTER BAPTIST CHURCH CIO

CONTENTS

Page
Trustees' report 1 - 4
Statement of trustees' responsibilities 5
Independent examiner's report 6
Statement of financial activities 7 - 8
Statement of financial position 9
Statement of cash flows 10
Notes to the financial statements 11 - 20

WORCESTER BAPTIST CHURCH CIO

TRUSTEES' REPORT

FOR THE YEAR ENDED 31 DECEMBER 2021

The trustees present their annual report and financial statements for the year ended 31 December 2021.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the Church's constitution, the Charities Act 2011 and “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)” (as amended for accounting periods commencing from 1 January 2019)

On 30 November 2018, funds were received from the Avery-Overall Baptist Trust Fund, Charity Number 509056 on the cessation of its activities.

On 1 May 2021, the undertaking, liabilities, staff and assets of the unincorporated charity Worcester Baptist Church were transferred to Worcester Baptist CIO, a Charitable Incorporated Organisation.

Objectives and activities

The principal purposes of the Church are:

Beliefs

As a member of the Baptist Union the Church subscribes to the Baptist Union's Declaration of Principle:

"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.

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.'

That it is the duty of every discipline to bear personal witness to the gospel of Jesus Christ, and to take part in

the evangelisation of the world."

Public benefit

The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the Church should undertake and are satisfied that those described below provide public benefit.

WORCESTER BAPTIST CHURCH CIO

TRUSTEES' REPORT (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2021

Activities

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.

The activities may include but are not restricted to:

WORCESTER BAPTIST CHURCH CIO

TRUSTEES' REPORT (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2021

Achievements and performance

The pandemic and the various restrictions associated with it have changed how the Church has functioned greatly. The whole situation has reinforced that the church is not the building but the people who would usually meet, worship and fellowship in the building

During the past year we have still gathered for Sunday morning services but not always in person. Once the first lockdown was announced we initially, for one week, live streamed on YouTube (who can forget the TV being wheeled in front of the camera by Tim each time we had a song!). We then moved to meeting on Zoom which proved to be really successful with between 65 and 80 folks regularly joining us online. At points we have been able to gather again but not able to sing and there has been the need to leave quickly after the service.

A big “thank you” to everyone for their understanding as the leadership team has taken various decisions over

the past year, and to the team themselves for all the extra meetings and communications.

For the second year running we made some financial gifts through a ‘ blessing others’ project to a number of organisations, some we already support but also some other local organisations. We have been blessed financially as a church so it’s wonderful to be able to help others out in this way.

One highlight has been that our newfound knowledge of Zoom has meant we have started to use that to meet with many of our partners in Uganda . This has now developed into a regular (six weekly) meet up to share news and pray together which is further enhancing and strengthening our relationship.

Working with the ‘Love the Arbo’ team we did have a form of the ‘Love the Arbo’ lighting event in February with over 70 houses lighting displays in their windows, some for 7 days. Plans are already taking shape for a bigger event next year over a weekend in February.

Financial review

The net outgoing resources for the year is £57,030 (2020 outgoing £45,519) of which outgoings of £51,637 is in connection with unrestricted activities and £5,393 outgoing in relation to restricted activities.

Total reserves at the reporting date are £1,182,768 (2020 £1,239,798) of which £235,011 is restricted. Full details of the restricted funds can be found in the notes accompanying the financial statements. After extracting fixed assets this leaves £883,117 available for unrestricted activities, this includes fixed investments however these are readily convertible.

It is the policy of the Church that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month’s expenditure. The trustees considers that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the Church’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year.

The trustees have assessed the major risks to which the Church is exposed, and are satisfied that systems are in

place to mitigate exposure to the major risks.

Plans for future

Looking ahead , it will be interesting to see what life is like generally but also, of course, church life. During the past year we have needed to do things differently and some things we haven’t been able to do at all. It will be right to consider carefully whether to restart some of the things that have stopped, and whether to continue doing some of the things we have started. Conversations are already taking place about much of this, but it does feel that ‘post Covid church’ will look a little different, and maybe that is a good thing and part of what God is doing.

WORCESTER BAPTIST CHURCH CIO

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021

Structure, governance and management

The Church is a charitable incorporated organisation, governed by a Constitution registered with the Charity Commission dated 27 September 2018.

The trustees who served during the year and up to the date of signature of the financial statements were: The trustees who served during the year and up to the date of signature of the financial statements were:
Darren Smith
Chris Porter (Resigned 1 September 2021)
Graham Baker
Timothy Prince
Alun Williams (Resigned 18 October 2021)
Fiona Forth
Hannah Celia (Appointed 18 October 2021)
Christine Baker (Appointed 20 April 2021)

The trustees are responsible for the management and administration of the Church's property and funds in accordance with its constitution. Day to day management of activities is delegated to Darren Smith the minister of the church. The remuneration of key management personnel is set by the board.

Upon appointment appropriate training and guidance is given as to the role and responsibilities of a trustee within the organisation.

Meetings are required to be held at every two months, at which the CIO and financial aspects of the organisation are considered and actions to be taken determined as necessary. This includes the setting of remuneration for those employed having due regard to legislative requirements and rates of remuneration paid by similar organisations.

Interests in transactions by virtue of related parties are declared at meetings and reported in the notes to the financial statements.

The trustees' report was approved by the Board of Trustees.

Darren Smith

Trustee Dated: 17 October 2022

WORCESTER BAPTIST CHURCH CIO

STATEMENT OF TRUSTEES' RESPONSIBILITIES

FOR THE YEAR ENDED 31 DECEMBER 2021

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 and Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the Church and of the incoming resources and application of resources of the Church for that year.

In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping sufficient accounting records that disclose with reasonable accuracy at any time the financial position of the Church 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 trust deed. They are also responsible for safeguarding the assets of the Church and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

WORCESTER BAPTIST CHURCH CIO

INDEPENDENT EXAMINER'S REPORT

TO THE TRUSTEES OF WORCESTER BAPTIST CHURCH CIO

I report to the trustees on my examination of the financial statements of Worcester Baptist Church CIO (the Church) for the year ended 31 December 2021.

Responsibilities and basis of report

As the trustees of the Church you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act).

I report in respect of my examination of the Church’s financial statements carried out under section 145 of the 2011 Act. In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

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

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 financial statements to be reached.

Sarah Morley ACA

Granta Lodge 71 Graham Road Malvern Worcestershire WR14 2JS

Dated: 17 October 2022

WORCESTER BAPTIST CHURCH CIO

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2021

Current financial year Current financial year Current financial year Total
2020
£
19,858
76,016
925
20,590
117,389
204,803
39,195
Unrestricted
Restricted
funds
funds
2021
2021
Notes
£
£		 Total
funds funds
2021 2021 2021
£ £ £
Income from:
Donations and legacies
3		 31,949 - 31,949
Charitable activities
4		 95,374 - 95,374
Other trading activities
5		 1,452 - 1,452
Investments
6		 21,971 - 21,971
Total income 150,746 - 150,746
Expenditure on:
Charitable activities
7		 238,151 5,393 243,544
Net gains/(losses) on investments
12		 35,768 - 35,768
Net outgoing resources
(51,637) (5,393) (57,030) (48,219)
2,700
Other recognised gains and losses
Actuarial (loss)/gain on defined benefit pension
schemes
Net movement in funds
- - -
(51,637) (5,393) (57,030) (45,519)
1,285,317
1,239,798
Fund balances at 1 January 2021 999,394 240,404 1,239,798
Fund balances at 31 December 2021 947,757 235,011 1,182,768

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

WORCESTER BAPTIST CHURCH CIO

STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED) INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2021

Prior financial year Prior financial year Prior financial year Total
2020
£
19,858
76,016
925
20,590
117,389
204,803
39,195
Unrestricted
Restricted
funds
funds
2020
2020
Notes
£
£
funds funds
2020 2020
£ £
Income from:
Donations and legacies
3		 19,858 -
Charitable activities
4		 76,016 -
Other trading activities
5		 925 -
Investments
6		 20,590 -
Total income 117,389 -
Expenditure on:
Charitable activities
7		 199,410 5,393
Net gains/(losses) on investments
12		 39,195 -
Net outgoing resources
(42,826) (5,393) (48,219)
2,700
Other recognised gains and losses
Actuarial (loss)/gain on defined benefit pension schemes
Net movement in funds		 2,700 -
(40,126) (5,393) (45,519)
1,285,317
1,239,798
Fund balances at 1 January 2020 1,039,520 245,797
Fund balances at 31 December 2020 999,394 240,404

WORCESTER BAPTIST CHURCH CIO

STATEMENT OF FINANCIAL POSITION

AS AT 31 DECEMBER 2021

Notes 2021 2021 2020 2020
£ £ £ £
Fixed assets
Property, plant and equipment
15
Investments
16
Current assets		 3,255
68,950
72,205
(7,789)		 267,758
850,594
1,118,352
64,416
1,182,768
235,011
947,756
1,182,768		 3,019
46,242
49,261
(4,551)		 277,800
917,288
1,195,088
Trade and other receivables
17
Cash at bank and in hand
Current liabilities
18
Net current assets 44,710
Total assets less current liabilities
1,239,798
Income funds
Restricted funds
19		 240,404
Unrestricted funds 999,394
1,239,798

The accounts were approved by the Trustees on 17 October 2022

Darren Smith Trustee

WORCESTER BAPTIST CHURCH CIO

STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED 31 DECEMBER 2021

2021
Notes
£
Cash flows from operating activities
Cash absorbed by operations
23
Investing activities
Purchase of property, plant and equipment
(6,253)
Purchase of listed investments
(125,485)
Proceeds on disposal of listed investments
227,946
Interest received
21,971
Net cash generated from investing
activities
Net cash used in financing activities
Net increase/(decrease) in cash and cash
equivalents
Cash and cash equivalents at beginning of year
Cash and cash equivalents at end of year		 2020
£
£
(128,412)
(3,035)
(51,876)
104,290
20,590
69,969
-
(58,443)
104,685
46,242		 2020
£
£
(128,412)
(3,035)
(51,876)
104,290
20,590
69,969
-
(58,443)
104,685
46,242
£
(95,471)
118,179
-
22,708
46,242
68,950
69,969
-
Proceeds on disposal of listed investments
Interest received
Net cash generated from investing
activities
Net cash used in financing activities
Net increase/(decrease) in cash and cash
equivalents
Cash and cash equivalents at beginning of year
Cash and cash equivalents at end of year
(58,443)
104,685
46,242

WORCESTER BAPTIST CHURCH CIO

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2021

1 Accounting policies

Charity information

Worcester Baptist Church is a charitable incorporated organisation and its office is Sansome Walk, Worcester, WR1 1LN.

1.1 Accounting convention

The financial statements have been prepared in accordance with the Church's constitution, the Charities Act 2011 and “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)” (as amended for accounting periods commencing from 1 January 2019). The Church is a Public Benefit Entity as defined by FRS 102.

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

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2 Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the Church has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

1.4 Incoming resources

Income is recognised when the Church is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the Church has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the Church has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

WORCESTER BAPTIST CHURCH CIO

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

1 Accounting policies

(Continued)

1.5 Resources expended

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 are allocated on the portion of the asset’s use.

Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be recovered.

Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services of its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.

Creditors represent the amount the charity anticipates it will pay to settle a debt or a provision for goods and services it has received not yet invoiced, measured at settlement amount.

1.6 Property, plant and equipment

Property, plant and equipment are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold land and buildings 2% of cost Fixtures and fittings 20% of cost

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

1.7 Non-current investments

Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year. Transaction costs are expensed as incurred.

1.8 Impairment of non-current assets

At each reporting end date, the Church reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.9 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

WORCESTER BAPTIST CHURCH CIO

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

1 Accounting policies (Continued)

1.10 Financial instruments

The Church has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Church's balance sheet when the Church becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other receivables and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including trade and other payables and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Church’s contractual obligations expire or are discharged or cancelled.

1.11 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the Church is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.12 Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

WORCESTER BAPTIST CHURCH CIO

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

2 Critical accounting estimates and judgements

In the application of the Church’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3 Donations and legacies

Unrestricted
Unrestricted
funds
funds
2021
2020
£
£		 Unrestricted
Unrestricted
funds
funds
2021
2020
£
£		 Unrestricted
Unrestricted
funds
funds
2021
2020
£
£		 Unrestricted
Unrestricted
funds
funds
2021
2020
£
£
funds funds
2021 2020
£ £
Donations and gifts 31,949 19,858
Charitable activities
2021 2020
£ £
Offerings 67,560 61,489
Other income 10,687 172
Rental income 17,127 14,355
95,374 76,016

4 Charitable activities

5 Other trading activities

Unrestricted Unrestricted
funds funds
2021 2020
£ £
Fundraising events 1,452 925

WORCESTER BAPTIST CHURCH CIO

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

6 Investments

Unrestricted
Unrestricted
funds
funds
2021
2020
£
£
Income from listed investments
21,971
20,584
Interest receivable
-
6
21,971
20,590
7
Charitable activities
2021
2020
£
£
Staff costs
64,702
53,404
Depreciation and impairment
16,296
15,051
Church premises upkeep
30,186
21,195
Missions
27,268
27,800
Ministry
4,320
3,264
Other expenses
7,912
5,297
Donations
6,166
11,941
Investment management fees
11,263
10,679
168,113
148,631
Grant funding of activities (see note 8)
53,890
34,596
Share of support costs (see note 9)
18,659
18,276
Share of governance costs (see note 9)
2,882
3,300
243,544
204,803
Analysis by fund
Unrestricted funds
238,151
Restricted funds
5,393
243,544
For the year ended 31 December 2020
Unrestricted funds
199,410
Restricted funds
5,393
204,803		 Unrestricted
Unrestricted
funds
funds
2021
2020
£
£
Income from listed investments
21,971
20,584
Interest receivable
-
6
21,971
20,590
7
Charitable activities
2021
2020
£
£
Staff costs
64,702
53,404
Depreciation and impairment
16,296
15,051
Church premises upkeep
30,186
21,195
Missions
27,268
27,800
Ministry
4,320
3,264
Other expenses
7,912
5,297
Donations
6,166
11,941
Investment management fees
11,263
10,679
168,113
148,631
Grant funding of activities (see note 8)
53,890
34,596
Share of support costs (see note 9)
18,659
18,276
Share of governance costs (see note 9)
2,882
3,300
243,544
204,803
Analysis by fund
Unrestricted funds
238,151
Restricted funds
5,393
243,544
For the year ended 31 December 2020
Unrestricted funds
199,410
Restricted funds
5,393
204,803		 Unrestricted
Unrestricted
funds
funds
2021
2020
£
£
Income from listed investments
21,971
20,584
Interest receivable
-
6
21,971
20,590
7
Charitable activities
2021
2020
£
£
Staff costs
64,702
53,404
Depreciation and impairment
16,296
15,051
Church premises upkeep
30,186
21,195
Missions
27,268
27,800
Ministry
4,320
3,264
Other expenses
7,912
5,297
Donations
6,166
11,941
Investment management fees
11,263
10,679
168,113
148,631
Grant funding of activities (see note 8)
53,890
34,596
Share of support costs (see note 9)
18,659
18,276
Share of governance costs (see note 9)
2,882
3,300
243,544
204,803
Analysis by fund
Unrestricted funds
238,151
Restricted funds
5,393
243,544
For the year ended 31 December 2020
Unrestricted funds
199,410
Restricted funds
5,393
204,803		 Unrestricted
Unrestricted
funds
funds
2021
2020
£
£
Income from listed investments
21,971
20,584
Interest receivable
-
6
21,971
20,590
7
Charitable activities
2021
2020
£
£
Staff costs
64,702
53,404
Depreciation and impairment
16,296
15,051
Church premises upkeep
30,186
21,195
Missions
27,268
27,800
Ministry
4,320
3,264
Other expenses
7,912
5,297
Donations
6,166
11,941
Investment management fees
11,263
10,679
168,113
148,631
Grant funding of activities (see note 8)
53,890
34,596
Share of support costs (see note 9)
18,659
18,276
Share of governance costs (see note 9)
2,882
3,300
243,544
204,803
Analysis by fund
Unrestricted funds
238,151
Restricted funds
5,393
243,544
For the year ended 31 December 2020
Unrestricted funds
199,410
Restricted funds
5,393
204,803
funds funds
2021 2020
£ £
21,971 20,584
- 6
21,971 20,590
7
Charitable activities
Staff costs
Depreciation and impairment
Church premises upkeep
Missions
Ministry
Other expenses
Donations
Investment management fees
Grant funding of activities (see note 8)
Share of support costs (see note 9)
Share of governance costs (see note 9)
Analysis by fund
Unrestricted funds
Restricted funds
For the year ended 31 December 2020
Unrestricted funds
Restricted funds
2021 2020
£ £
64,702 53,404
16,296 15,051
30,186 21,195
27,268 27,800
4,320 3,264
7,912 5,297
6,166 11,941
11,263 10,679
168,113 148,631
53,890 34,596
18,659 18,276
2,882 3,300
243,544 204,803
238,151
5,393
243,544
199,410
5,393
204,803

WORCESTER BAPTIST CHURCH CIO

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2021

8 Grants payable
2021
£
Grants to institutions:
Two Pennies -
MAF UK 7,000
PNG Project -
M Rankin - Uganda project 16,000
D & C Masters - Coronavirus help -
Street Cafe 265
Maggs Day Centre 5,000
HEBA 5,000
BMA 5,000
Food Bank 5,000
St Pauls Hostel 5,000
Freeset 5,000
4 Front 225
Good Soil 400
53,890
Support costs
Support
costs
Governance
costs
£
£		 2021
Support costs
Governance
costs
£ £ £ £ £
Staff costs 11,876 - 11,876 7,877 -
Computer 1,047 - 1,047 1,646 -
Advertising 248 - 248 404 -
Print and stationery 2,505 - 2,505 2,436 -
Subscriptions 1,046 - 1,046 1,532 -
Telephone 1,137 - 1,137 1,358 -
Sundry 97 - 97 404 -
Legal and professional 703 - 703 2,619 -
Independent exam and
accountancy
- 2,882 2,882 - 3,300
18,659 2,882 21,541 18,276 3,300
Analysed between
Charitable activities 18,659 2,882 21,541 18,276 3,300

9 Support costs

Governance costs includes payments to the independent examiners of £2,882 (2020 - £3,300) for accountancy fees.

WORCESTER BAPTIST CHURCH CIO

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

10 Trustees

During the year Darren Smith and Timothy Prince, trustees and also employees of the church were remunerated a total amount of £42,911 for their roles as Minister and Minister in training respectively.

11 Employees

Number of employees

The average monthly number of employees during the year was:

2021
2020
Number
Number		 2021
2020
Number
Number		 2021
2020
Number
Number
Minister 3 2
Administration 1 1
Premises 1 1
5 4
Employment costs 2021 2020
£ £
Wages and salaries 70,516 55,214
Other pension costs 6,062 6,067
76,578 61,281

There were no employees whose annual remuneration was £60,000 or more.

12 Net gains/(losses) on investments

Unrestricted
Unrestricted
funds
funds
2021
2020
£
£		 Unrestricted
Unrestricted
funds
funds
2021
2020
£
£		 Unrestricted
Unrestricted
funds
funds
2021
2020
£
£
funds funds
2021 2020
£ £
Revaluation of investments 26,095 48,914
Gain/(loss) on sale of investments 9,673 (9,719
35,768 39,195

13 Retirement benefit schemes

Defined contribution schemes

The Church operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the Church in an independently administered fund.

The charge to profit or loss in respect of defined contribution schemes was £6,062 (2020 - £6,067).

WORCESTER BAPTIST CHURCH CIO

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

14
Financial instruments		 2021 2021
Carrying amount of financial assets
Instruments measured at fair value through profit or loss		 £
850,594
15
Property, plant and equipment
Cost
At 1 January 2021
Additions
At 31 December 2021
Depreciation and impairment
At 1 January 2021
Depreciation charged in the year
At 31 December 2021
Carrying amount
At 31 December 2021
At 31 December 2020		 Buildings
Fixtures and
fittings
£ £
269,680 48,287
- 6,253
269,680 54,540
25,413 14,753
5,393 10,903
30,806 25,656
238,874 28,884
244,267 33,533
16
Fixed asset investments
Cost or valuation
At 1 January 2021
Additions
Valuation changes
Disposals
At 31 December 2021
Carrying amount
At 31 December 2021
At 31 December 2020
(227,946)
850,594
850,594
917,288
850,594
850,594
917,288

WORCESTER BAPTIST CHURCH CIO

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

17 Trade and other receivables

17
Trade and other receivables
Amounts falling due within one year:
Trade receivables
Prepayments and accrued income
18
Current liabilities		 2021 2020
£ £
2,598 1,950
657 1,069
3,255 3,019
Other taxation and social security
Trade payables
Accruals and deferred income		 2021 2020
£ £
776 -
1,846 936
5,167 3,615
7,789 4,551

19 Restricted funds

The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes:

Balance at
1 January 2020
Resources
expended
Balance at
1 January 2021
Resources
expended
Balance at
31 December
2021
£
£
£
£
£
Avery-Overall Baptist Trust Fund
216,621
(4,616)
212,005
(4,616)
207,389
New boiler donation
29,176
(777)
28,399
(777)
27,622
245,797
(5,393)
240,404
(5,393)
235,011		 Balance at
1 January 2020
Resources
expended
Balance at
1 January 2021
Resources
expended
Balance at
31 December
2021
£
£
£
£
£
Avery-Overall Baptist Trust Fund
216,621
(4,616)
212,005
(4,616)
207,389
New boiler donation
29,176
(777)
28,399
(777)
27,622
245,797
(5,393)
240,404
(5,393)
235,011		 Balance at
1 January 2020
Resources
expended
Balance at
1 January 2021
Resources
expended
Balance at
31 December
2021
£
£
£
£
£
Avery-Overall Baptist Trust Fund
216,621
(4,616)
212,005
(4,616)
207,389
New boiler donation
29,176
(777)
28,399
(777)
27,622
245,797
(5,393)
240,404
(5,393)
235,011		 Balance at
1 January 2020
Resources
expended
Balance at
1 January 2021
Resources
expended
Balance at
31 December
2021
£
£
£
£
£
Avery-Overall Baptist Trust Fund
216,621
(4,616)
212,005
(4,616)
207,389
New boiler donation
29,176
(777)
28,399
(777)
27,622
245,797
(5,393)
240,404
(5,393)
235,011		 Balance at
1 January 2020
Resources
expended
Balance at
1 January 2021
Resources
expended
Balance at
31 December
2021
£
£
£
£
£
Avery-Overall Baptist Trust Fund
216,621
(4,616)
212,005
(4,616)
207,389
New boiler donation
29,176
(777)
28,399
(777)
27,622
245,797
(5,393)
240,404
(5,393)
235,011		 Balance at
1 January 2020
Resources
expended
Balance at
1 January 2021
Resources
expended
Balance at
31 December
2021
£
£
£
£
£
Avery-Overall Baptist Trust Fund
216,621
(4,616)
212,005
(4,616)
207,389
New boiler donation
29,176
(777)
28,399
(777)
27,622
245,797
(5,393)
240,404
(5,393)
235,011
£ £ £ £ £
216,621
29,176
245,797		 212,005
28,399
240,404
Avery-Overall Baptist Trust Fund (4,616) (4,616) 207,389
New boiler donation (777) (777) 27,622
(5,393) (5,393) 235,011

Avery-Overall Baptist Trust fund - funds received in connection to the Hall refurbishment.

New boiler - funds were received from the Avery-Overall Baptist Trust fund for the purposes of a new boiler for the church.

WORCESTER BAPTIST CHURCH CIO

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2021

20
Analysis of net assets between funds		 20
Analysis of net assets between funds		 20
Analysis of net assets between funds
Unrestricted
Restricted
2021
2021
£
£
Fund balances at 31
December 2021 are
represented by:
Property, plant and
equipment
64,639
203,119
Investments
850,594
-
Current assets/(liabilities)
32,524
31,892
947,758
235,011		 Total
Unrestricted		 Restricted Total
2021 2021 2021 2020 2020 2020
£ £ £ £ £ £
64,639 203,119 267,758 70,065 207,735 277,800
850,594 - 850,594 917,288 - 917,288
32,524 31,892 64,416 12,041 32,669 44,710
947,758 235,011 1,182,768 999,394 240,404 1,239,798

21 Related party transactions

There were no disclosable related party transactions during the year (2020 - none).

22 Non-monetary assets held for Church's own use

The church is the beneficial owner of the following assets which are not included within the balance sheet, the legal title to which is held by the Church's custodian trustee (The Baptist Union Corporation Ltd). These assets are shown at their insured value:

Church premises at Sansome walk to include Hall and Bungalow
10,202,516
Manse at 2 Amery Close
185,000
The Church also owns equipment, fixtures and fittings
75,100		 Church premises at Sansome walk to include Hall and Bungalow
10,202,516
Manse at 2 Amery Close
185,000
The Church also owns equipment, fixtures and fittings
75,100
23
Cash generated from operations		 2021 2020
Deficit for the year
Adjustments for:
Investment income recognised in statement of financial activities
(Gain)/loss on disposal of investments
Fair value gains and losses on investments
Acturial gain on defined benefit pension scheme
Depreciation and impairment of property, plant and equipment
Defined benefit pension scheme contribution
Movements in working capital:
(Increase)/decrease in trade and other receivables
Increase/(decrease) in trade and other payables
Cash absorbed by operations		 £ £
(57,030) (45,519)
(21,971) (20,590)
(9,673) 9,719
(26,095) (48,914)
- (2,700)
16,296 15,051
- (28,200)
(236) 1,236
3,238 (8,495)
(95,471) (128,412)