2020-12-31-accounts - Bridgnorth Baptist Church

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

			Page
Report ofthe Trnstces		I	to	2
Independent Examiner's Report
Statement ofFinancial	Actsvities
Balance Sheet
Notes tothe Financial	Statements	6	to	l3
Detailed Statement of	Financial Activities	I4	to	I5

		F RTHE YE	AR ENDE	D 31STD E	BER2020
							Period
							7 12.18
						Year Ended	to
						31.12.20	31.12.19
				Unrestricted		Total	Timd
			Notes	fund		funds	fundsI
INCOME AND ENDOWMENTS FROhl
Volunlary income				128,740	1,000	129,740
Investment income			2	4.990
Total				133,730		134,730
EXPENDITURE ON
Raising funds			3	63,544	1,000	64,544
Church Expendhture				53446		53446
Total				116,990	1,000	117,990
Transfer from unincorporated		entity		L174.086		1,174,086
NET INCOME				1.190,826		1,190,826
RECONCILIATION	OF FUNDS
Total funds brought	forward
TOTAI, FUNDS CARRIED		FORWARD		1.190.826	-	1,190826

31	STDE	EMBER2020
				31.12.20	31.12.19
		Unrestricted	Restricted	Total	Total
		fund	fund	funds	funds
	Notes
FIXEDASSETS
Tangible assets	7	1,092,754		1.092,754
CURRENT ASSETS
Debtom		7200		7,200
Investments		395		395
Cash at bank aud in head		117,049		117,049
		124,644		124,644
CREDITORS
Amounts falling due within one year	10	(5,046)		(5,046)
NET CURRENT ASSETS		119.598		119598
TOTAL ASSETSLESSCURRENT
LIABILITIES		1,212,352		),212352
CREDITORS
Amouats falling due ager more than one year	11	(21,526)		(21526)
NET ASSETS		~1190826	-	~1,190826i
FUNDS	12
Unmstricted funds				1,190826
TOTAL FUNDS				I 190,826

									Period
									7.12.18
						Year Ended			to
							31.12.20		31.12.19
	Support costs						~64 544
4.	NET INCOME/(EXPENDITURE)
	Net income/(expenditure)	is stated	after charging/(crcditiug):
									Period
									7.12.18
						Year Ended
							31.12.20		31.12.19
	Depreciation - owned assets						9015
5.	TRUSTEES' REMUNERATION		AND BENEFITS
									Period
									7.12.18
						Year Ended			to
							31.12.20		31.12.19
							K
	Trustees' salades						~37997
	Trustees' expellscs
	During the year one trustee was reimbursed			for expenses	costs incurred	for the	Cbadty's	business	during	the
	coume of his employment.
6.	COMPARATIVES FOR	THE STATEMENT OF FINANCIAL ACTIVITIES
									Total
									fundsf
	NET INCOME
	TOTAL FUNDS CARRIED FORWARD

7.	TANGIBLE FIXEDASSETS
				Fixtures
			Freehold	and
			property	frttings
	COST
	Transfer Additions	1,113,526		87,272 ~4750	1,200,798 ~4750
	At 31stDecember 2020	1,113526		92,022	I	05,548
	DEPRECIATION
	Transfer Charge for year	24,036 ~6009		79,743 ~3006		103.779 9015
	At 31stDecember 2020	~30045		82749		112794
	NET BOOKVALUE At 31stDecember 2020	~1083481		~973	1	092754
	At 31stDecember 2019
8.	DEBTORS:AMOUNTS FALLING DUE WITHIN ONE YEAR
				31.12.20 f	31.12.19
	Prepayments and accrued income			7200
9.	CURRENT ASSETINVESTMENTS
				31.12.21)	31.12.19
				8		5
	Funds (interest) held by HEBA			395
10.	CREDITORSt AMOUNTS FALLING DUE WITHIN ONE YEAR
				31.il2.20	31.12.19
						8
	Social security and other taxes			659
	Other creditors			4.387
				~5046

Type o(financial assumption	v/i pa
RPI price inflation assumption	3.50
CPIprice inflation assumption	2.75
Minimum Pensionabte lnconie increases (CP1plus 1.0'/v pa)	3.50
Assumed investment returns
-Pre.mtiremeut	3.50
-Post redrement	2.25
Deferred pension increases
-Prc April 2009	3.50
-Post April 2009	2.50
Pension increases
-Main Scheme pension Pre April 2006	2.70
-Main Scheme pension Pre April 2006	2.00

		FOR THE YEAR ENDED 31STDECEMBER 202	0
IL	CREDITORS:	AMOUNTS FALLING DUK AFTER MORE THAN ONE	YEAR 31.12.20	31.!2.19
			8
	Other creditors		~21526
12.	MOVEMENT	IN FUNDS
			Net
			movement	At
		At 1.120	m funds	31.12.20
	Unrestricted funds
	General fund		1,190,$26	1.190.826
	TOTAL FUNDS		I 190826	1.190826

	Incoming	Resources	Gains and	Movement
	resources	expended	losses	in funds
	g	6	g
Unrestricted funds
General fund	133,730	(116,990)	1,174,086	1,190,826
Restricted funds
Restricted fund		(1,000)
TOTAL FUNDS	~134730	(117,990)	1,174,0$6	~1.190826

Accounting Date			31December 2Q20	31December 2Q19
Balance sheet liability at	year	start	33,708	33,637
Minus deficiency contributions		paid	(3,631)	(3553)
Interest cost (recognised	in SoFA)		555	578
Remaining change tothe	balance sheet liability
(recognised in SoFA)			(9,106)	(3,046)
Balance sheet liability at	year	end	21,526	33,708

Accounting Date		31December 2020	31December 2019	31December 2018
Discount rate		0 4o/o	1.7o/o	2.4o/o
Future increases to
Minimum Pensionable	Income	3.0o/o	3.2o/o	3 3ol
Cessation Event

		F RTHK YEAR ENDED 31S	TDECEMBER 2020
				Period
				7.12.18
			Year Ended	to
			31.12.20	31.12.19
INCOME AND	ENDOWMENTS
Voluntary income
Collections			95,729
Covenants (Gifi	aid)		16,996
Mums th Toddlers			47
Sundry Receipts			1,387
Specified Gifis			15.581
			129,740
Investment income
Rents received			4,095
Interest receivable - trading			895
			~4990
Total incoming	resources		134,730
EXPENDITURE
Church Expenditure
Church Leaders	Salaries (frustees)		37,997
Other salaries			14,044
Social security			1,100
Pensions			3,918
Increase/(mduction)		in pension liability	(9,458)
Telephone			352
Travel k.Subststence			226
Confemnce Fees			410
Internship Costs			~4857
Support costs
Church Building Expeases Repairs k Maintenance			2,075
Insumnce			1,142
Light and heat			1,902
Telephone			1,481
Postage and stationery			1,105
Sundries			2,393
Carried fonvard			10,098

F RTHE YEAR ENDED 31S	TDE EMBER2020
		Period
		7.12.18
	Year Ended	to
	31.12.20	31.12.19
Church Building Expenses
Brought forward	10,098
Cleaning	3,594
Copyright	878
	14,570
7West Castle Street Expenses
Cleaning	235
Rates and water	421
Insurance	361
Light and heat k Maintenance	1,374 1,619
	4,010
Mission
Heart ofEngland Baptist Association	1,500
Outreach, Gifts dt Home Mission
Special Events	230
Specifred Gifts - Designated	15,581
CAP	3,239
Care Fund (netofrepayments)	(300)
Bridgnorth Youth fk Schools Pmject	6,000
Kiags Kids	500
Prayer A Healing On The Street	382
Other	2400
	28,032
Other resources expended
Tnuning tk conferences	127
Speakers dt Communion Supplies
Youth tk Rainbow	217
Bank charges	429
Bible Prayer Notes 8:Fmedom ln Christ	4,032
Accouatancy and legal fees	1,802
Subscription s	801
Depreciation - Church	6,708
Depreciation - No. 7	2307
	16432
Total msources expended	117,990
Net income	16740