STOCKSFIELD BAPTIST CHURCH
Report & Accounts 2020
References and administrative details
Registered Ad d ress Main Road, Stocksfield Northumberland Charity Registration Number 1182577
Trustees
Mr P Jorysz (Minister) Mr K Frost (Secretary) Mr N Parker (Treasurer) Mrs J Donaldson (Deacon) Mr R Donaldson (Deacon) Mrs L Hodgson (Deacon) Mr T Knight (Deacon) The following trustees resigned during 2020. Miss K Power (Deacon) Mrs B Revill (Deacon)
Property Trustees
The Baptist Union Corporation Limited Baptist House, 129 Broadway, Didcot, Oxfordshire OX11 8RT
Bankers
Lloyds Bank Whickham Independent Examiner Heritage Accountancy Prudhoe
The trustees present their Annual Report and financial statements for 2020.
Structure, Governance and Management
The Charity is governed by an Approved Governing Document. Members of the Church are accepted in accordance with the Constitution which requires them to be or to have been publicly baptised on the profession of faith in Jesus Christ or following other modes of baptism to renew their public profession of faith in Jesus Christ.
The members Meeting normally takes place five times per year and has responsibility for the overall policy of the church. In accordance with the Constitution, the members appoint up to six Trustees, who together with the Minister, Church Secretary and Treasurer (who are also appointed by the Members), are responsible for the day to day running of the church’s work and witness, and the financial and legal aspects of the charity. All members are encouraged to take an appropriate part in the spiritual and practical tasks involved in the furtherance of the charitable objective. Relevant matters may be submitted to the Church meeting by the Trustees for guidance or may be raised by members in Church meeting for
further consideration by the Trustees. Though the Constitution permits decisions to be made at Church meetings by appropriate majorities, the Church seeks to work by consensus wherever possible. During the Coronavirus pandemic all church meetings have continued utilising Zoom, often with increased attendance governance has been maintained in accordance with the constitution.
Objectives and Activities
The principal purpose of the charity is the advancement of the Christian faith according to the principles of the Baptist denomination to include the advancement of education, community service and such other general charitable purposes in such parts of the United Kingdom and the world as the Church shall determine.
In order to achieve the principal objective, which is set out above, the Church provides a variety of activities both to its membership and to the community generally. The aim is to show the love of Jesus Christ in both word and deed and to bring people into a closer relationship with Him as living Lord.
Central to the work and witness of the Church is the provision of regular public services of Christian worship. These services take place each Sunday at 10.00 am. There are also occasional services at other times which are advertised on the Church Notice Board and the website at stocksfieldbaptistchurch.net. There is a full children’s programme during the morning services. The church seeks to be a friendly and welcoming community, and anybody is free to attend any of these services. The church runs a series of house groups for the growth of faith and discipleship in the homes of some members, and further details of these can be obtained from the Trustees on request, or at the Sunday services of worship.
The church is responsible for a ‘Stay and Play’ Toddler Group which meets in the Church premises on Tuesday mornings, with the purpose of assisting the community and demonstrating the love of Jesus Christ. From time to time the Church runs courses in parenting, and courses for people interested in discovering more about Christianity, entitled ‘Jigsaw’ and ‘Alpha’.
The Church runs various events for Young People. The Youth Coordinator and an Ecumenical Group provide a witness and service in local schools. For people in the Third Age there is a thriving Luncheon Club. The Church works with local ecumenical groups in various community projects including Holiday Club.
The church operates systems to ensure that all people working with children and vulnerable adults are appropriately vetted with regard to the Disclosure and Barring Service.
The church gives 10% of it’s income to charitable organisations as shown in the accounts. The church has read the Charity Commission guidance on public benefit and is satisfied that the activities outlined above clearly demonstrate that the charity is providing a benefit to the public.
Achievements and Performance
During the Coronavirus pandemic the achievements and performance noted below were impacted to varying degrees. Zoom was utilised extensively and, where possible, there were some meetings held at church especially for children and youth. The activities most affected were Stay and Play and the Luncheon Club.
The Church does not only measure the success of its programmes in numbers, including financial numbers, but also less tangible areas like fellowship and encouragement. The Trustees recognise that these are difficult to measure, but believe that 2020 was a positive year in the life of the church, and that it will be able to pursue its mission purposes in 2021 with renewed enthusiasm.
Six people formally joined the church as members. No church members died during the year, and three moved to other churches in different parts of the country. At 31 December 2020 the membership stood at sixty-two. Average attendance at worship services has remained stable during the year, and children’s work and youth work as been maintained on Zoom. The annual summer Holiday Club was also held utilising videos and activity packs. Thirteen people attended a ‘Puzzling Questions’ course exploring spirituality on Zoom. Both our Stay & Play Group and fortnightly Luncheon Club had to be cancelled during the pandemic and it is hoped will be started again in 2021 as part of our service to the local community.
Financial Review
The Church continues to raise the funds which it needs to carry on its activities from within its own membership and congregation. No wider public appeal was made for funds during the year.
The most significant expense relates to the ministry of the P Jorysz as Minister of the Church, to lead and co-ordinate the church’s activities including the Sunday Services, to provide pastoral care for the congregation and other people, and to equip and encourage the membership in their life, Christian witness and service. Ministry expense also includes T Knight Youth Coordinator who leads youth work and outreach into schools.
The Church expressed its part in the life of the wider church by making grants to national and international Christian organisations and societies with Christian aims and objectives compatible with the church’s own charitable purpose.
The Church is heavily dependent on its membership working as volunteers in all aspects of the church’s activities, many of which run with little or no impact on the church’s expenditure, but nevertheless contribute substantially to the achievement of the church’s objectives. The financial results for the year, together with a summary of the accounting policies adopted are set out in the accompanying financial statements. The Coronavirus pandemic has had no significant impact on income and additional costs have broadly been offset by savings. Camera equipment for streaming services of £3877 was purchased.
The church is a participating employer within the Defined Benefit section of the Baptist Pension scheme and has been making ongoing deficit payments to cover the costs of past service of its employees within the scheme under a recovery plan. The church understands that if it had left the scheme at the year-end, it would have to have made a one-off payment estimated to be £49,800 to meet its statutory obligations to the scheme. The church has no plan to leave the scheme and expects to continue to make payments to the scheme in line with the recovery plan.
Reserves Policy
The reserves policy of Stocksfield Baptist Church is to hold three months of all expenditure plus a further three months staff costs to allow the church to adapt to any changes in the income or expenditure of the church.
Having considered the relevant risks of changes in income and expenditure, the Trustees have determined that the appropriate level of reserves is in the range £36,000 to £38,000. As at 31 December 2020, the church held total reserves of £80,752 of which zero were restricted and £18,110 designated. Reserves that were neither restricted nor designated amounted to £62,642.
The church is currently progressing a project to provide a new entrance with disabled access and toilet to be funded from special appeal and any available grants.
STOCKSFIELD BAPTIST CHURCH FINANCIAL STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2020 GENERAL RECEIPTS & PAYMENTS ACCOUNT
| DECEMBER 2020 | ||
|---|---|---|
| GENERAL RECEIPTS & PAYMENTS ACCOUNT |
||
| Not e |
2020 | 2019 |
| Receipts | ||
| Oferings | 60877 | 62002 |
| Donations and other income 2 |
2768 | 8621 |
| Income tax recovered on gifts | 13253 | 10501 |
| Investment Income 3 |
30 | 43 |
| Rents and contributions for use of premises |
9750 | 10470 |
| Raised for other causes 4 |
0 | 573 |
| Total Receipts | 8667 8 |
9221 0 |
| Payments | ||
| Ministry 5 |
(54,38 4) |
(53,79 9) |
| Mission 6 |
(12,80 0) |
(19,12 5) |
| Upkeep of church premises 7 |
(12,56 3) |
(14,62 3) |
| Administration 8 |
(8,610 ) |
(3,048 ) |
| Amounts passed on to other causes |
0 | (573) |
| Total Payments | (88,3 57) |
(91,1 68) |
| Net receipts / (payments) for the year |
(1,679 ) |
1,042 |
| Transfers to / (from) general fund |
0 | 0 |
| Cash balance at previous year end |
6432 1 |
6327 9 |
| Cash balance at current year end |
6264 2 |
6432 1 |
| PROPERTY FUND RECEIPTS & PAYMENTS ACCOUNT |
||
| Not e |
2020 | 2019 |
| Receipts | ||
| Oferings | 3640 | 4140 |
| Income Tax Recovered on Gifts | 923 | 754 |
| Total Receipts | 4563 | 4894 |
| Payments | ||
| Repairs | (4,493 ) |
(339) |
| Improvements | (690) | 0 |
| Total Payments | (5,18 3) |
(339) |
| Net receipts / (payments) for the year |
(620) | 4,555 |
| Transfers to / (from) general fund |
0 | 0 |
|---|---|---|
| Cash balance at previous year end |
1802 0 |
1346 5 |
| Cash balance at current year end |
1740 0 |
1802 0 |
| FAMILY FUND RECEIPTS & PAYMENTS ACCOUNT |
||
| Not e |
2020 | 2019 |
| Receipts | ||
| Donations | 0 | 0 |
| Total Receipts | 0 | 0 |
| Payments | ||
| Contributions | (315) | (90) |
| Total Payments | (315) | (90) |
| Net receipts / (payments) for the year |
(315) | (90) |
| Transfers to / (from) general fund |
0 | 0 |
| Cash balance at previous year end |
1025 | 1115 |
| Cash balance at current year end |
710 | 1025 |
| CHRISTIANS AGAINST POVERTY FUND RECEIPTS & PAYMENTS ACCOUNT |
||
| Not e |
2020 | 2019 |
| Receipts | ||
| Donations | 0 | 0 |
| Total Receipts | 0 | 0 |
| Payments | ||
| CAP Subscriptions | (552) | (720) |
| Expenses | ||
| Total Payments | (552) | (720) |
| Net receipts / (payments) for the year |
(552) | (720) |
| Transfers to / (from) general fund |
0 | 0 |
| Cash balance at previous year end |
552 | 1272 |
| Cash balance at current year end |
0 | 552 |
| STATEMENT OF ASSETS AND LIABILITIES AT 31 DECEMBER 2020 |
||
| Not e |
2020 | 2019 |
| Assets | ||
| Bank and other cash balances | ||
| Petty Cash | 0 | 0 |
| Loyds Bank Current Account |
1802 | 1998 |
| Loyds Bank Deposit Account |
78951 | 81921 |
| Other monetary assets | ||
| Debtors | 0 | 0 |
| Loans made | 0 | 0 |
| Gift aid claimed but not received |
3566 | 3655 |
| Investment Assets 9 |
0 | 0 |
| Assets Held for Church's own use 10 |
20272 99 |
20222 28 |
| Total Assets | 2111 618 |
2109 802 |
| Liabilities | ||
| Current Liabilities 11 |
(2,166 ) |
(2,334 ) |
| Long Term Loans 12 |
0 | 0 |
| Pension Scheme Liability 13 |
(22,17 2) |
(31,97 7) |
| Other Liabilities 14 |
0 | 0 |
| Total Liabilities | (24,3 38) |
(34,3 11) |
The accounts and statement of assets and liabilities set out on pages (1 & 3)
relating to the year ending 31st December 2020 are as approved by the Deacons.
Kevin Frost - Secretary
Neill Parker - Treasurer
Date: 2nd March 2021
NOTES TO THE ACCOUNTS
1. Basis of accounts
These accounts have been prepared on a'receipts and payments' basis and in accordance with Section 133 Charities Act 2011
| 2. Donations and other income | ||
|---|---|---|
| 2020 | 2019 | |
| Donations | 300 | 70 |
| Legacies | 0 | 0 |
| Memorial gifts | 0 | 0 |
| Mission Activities: | ||
| Church Weekend | 563 | 3754 |
| Old people's Lunch club | 586 | 2516 |
| Roumania | 449 | 0 |
| Mum's & Toddler's group | 100 | 619 |
| Parenting Conference | 0 | 952 |
| Youth Work | 580 | 580 |
| Other income | 190 | 130 |
| Total Donations and Other Income |
2768 | 8621 |
| 3. Investment Income | ||
| 2020 | 2019 | |
| Bank Interest | 30 | 43 |
| Trust Income | 0 | 0 |
| Other Investment Income | 0 | 0 |
| Total Investment Income | 30 | 43 |
| 4. Raised for other causes | ||
| Christian Aid | 0 | 225 |
| Open Doors | 0 | 102 |
| Marie Curie | 0 | 246 |
| Total Raised for other causes | 0 | 573 |
| 5. Ministry | ||
| 2020 | 2019 | |
| Minister's stipend | (36,41 6) |
(33,71 9) |
| Pension contribution | (3,658 | (3,577 |
| ) | ) | |||||
|---|---|---|---|---|---|---|
| (2,724 | (3,553 | |||||
| Pension defcit fund | ) | ) | ||||
| National insurance | 0 | 0 | ||||
| (1,656 | (3,260 | |||||
| Travel and general expenses | ) | ) | ||||
| (9,540 | (9,540 | |||||
| Manse costs | ) | ) | ||||
| Other Ministry | (390) | (150) | ||||
| (54,3 | (53,7 | |||||
| Total Ministry | 84) | 99) | ||||
| The Minister acts as one of the church's trustees and receives remuneration and | ||||||
| other benefts in respect of his services as Minister, including the provision of | ||||||
| manse accomodation rented by the | church | from the Minister and his spouse. | ||||
| Also includes the Youth Coordinator | who receives remuneration and other | |||||
| benefts in respect of his services as Youth Coordination. | ||||||
| 6. Mission | ||||||
| 2020 | 2019 | |||||
| (4,200 | (3,960 | |||||
| Home Mission | ) | ) | ||||
| (2,500 | (2,500 | |||||
| BMS World Mission | ) | ) | ||||
| Peoples Kitchen | (200) | (520) | ||||
| Scrtipture Union | 0 | (310) | ||||
| (1,000 | ||||||
| Open Doors | ) | 0 | ||||
| SMILES | (500) | (500) |
| 6. Mission | ||
|---|---|---|
| 2020 | 2019 | |
| Home Mission | (4,200 ) |
(3,960 ) |
| BMS World Mission | (2,500 ) |
(2,500 ) |
| Peoples Kitchen | (200) | (520) |
| Scrtipture Union | 0 | (310) |
| Open Doors | (1,000 ) |
0 |
| SMILES | (500) | (500) |
| Uhuru | (600) | (1,600 ) |
| Church Weekend | (563) | (3,613 ) |
| Old people's Lunch club | (161) | (1,676 ) |
| Roumania | (471) | 0 |
| Scientists in Congregation | 0 | 0 |
| Mum's & Toddler's group | (68) | (247) |
| Parenting Conference | 0 | (916) |
| Sunday School & Youth Work | (956) | (1,728 ) |
| Holiday Club | 0 | (682) |
| Other Mission Giving | (1,581 ) |
(873) |
| Total Mission | (12,8 00) |
(19,1 25) |
| 7. Upkeep of church premises | ||
| 2020 | 2019 | |
| Utilities | (4,436 ) |
(3,663 ) |
| Cleaning | (3,298 ) |
(4,164 ) |
| Insurance | (2,195 ) |
(2,158 ) |
| Repairs & Maintenance | (2,634 ) |
(4,638 ) |
|---|---|---|
| Other Premises | 0 | 0 |
| Total Upkeep of church premises |
(12,5 63) |
(14,6 23) |
| 8. Administration | ||
| 2020 | 2019 | |
| Telephone and intenet | (432) | (431) |
| Advertising and website | (653) | (571) |
| Subscriptions and copyright license |
(1,006 ) |
(883) |
| Equipment | (4,622 ) |
0 |
| Audit | (274) | (264) |
| PA systems | (207) | (349) |
| Other administration | (1,416 ) |
(550) |
| Total Administration | (8,61 0) |
(3,04 8) |
| 9. Investment Assets | ||
| 2020 | 2019 | |
| Stocks and Shares | 0 | 0 |
| Corporate bonds | 0 | 0 |
| Gilts | 0 | 0 |
| Investment property | 0 | 0 |
| Other investment assets | 0 | 0 |
| Total Investment Assets | 0 | 0 |
| 10. Assets Held for the Church's own use |
The church is the beneficial owner (subject to relevant trusts) of the following assets, the legal title to which is held by the church's custodian trustee (The Baptist Union Corporation Ltd):
-
Church building at Main Road, Stocksfield, Northumberland valued in the accounts at £1,831,264 based on insured value
-
Church manse at 22 Birkdene, Stocksfield, Nothumberland valued in the accounts at £102,722 based on insured value
The church also owns fixtures, furniture and equipment with ans insured value of £93,133 based on insured value
| of £93,133 based on insured value | ||
|---|---|---|
| 11. Current Liabilities | ||
| 2020 | 2019 | |
| Open Doors | 0 | (500) |
| HMRC Tax | (1,120 ) |
(1,142 ) |
| Utilities | (546) | (692) |
| Ministers Expenses | (500) | |
| Cheques written but not cashed | 0 | 0 |
| Other current liabilities | 0 | 0 |
| Total Current Liabilities | (2,16 6) |
(2,33 4) |
| 12. Long-Term Liabilities |
| 2020 | 2019 | |
|---|---|---|
| Baptist Building Fund Loan | 0 | 0 |
| Baptist Union Loan Fund Loan | 0 | 0 |
| Loans from Church Member's | 0 | 0 |
| Other | 0 | 0 |
| Total Long-Term Liabilities | 0 | 0 |
| 13. 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 2019 by a professionally qualified Actuary using the Projected Unit Method. At the valuation date the market value of the DB Plan assets was £298 million, whilst the level of assets needed to pay benefits was £316m, giving a deficit of £18m (equivalent to a past service funding level of 94%). 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 2022.
Under the Schedule of Contributions, the church makes a monthly payment in respect of the DB scheme deficit, currently £307.95, which will increase in line with increases in Minimum Pensionable Income. The Schedule of Contributions foresees these contributions continuing until June 2026. The pension scheme liability shown in the Statement of Assets and liabilities is calculated as the current rate per month multiplied by the number of months remaining in the current Schedule of Contributions, which amounted to £22172 as at 31st December 2020.
The Church has been advised that the estimated cost for the church to buyout their Pension Scheme liabilities at [31 December 2020] was £49800. 14. Other Liabilities (if applicable)
STOCKSFIELD BAPTIST CHURCH
Report & Accounts 2020
References and administrative details Registered Ad d ress
Main Road, Stocksfield Northumberland Charity Registration Number 1182577
Trustees
Mr P Jorysz (Minister) Mr K Frost (Secretary) Mr N Parker (Treasurer) Mrs J Donaldson (Deacon) Mr R Donaldson (Deacon) Mrs L Hodgson (Deacon) Mr T Knight (Deacon) The following trustees resigned during 2020. Miss K Power (Deacon) Mrs B Revill (Deacon)
Property Trustees
The Baptist Union Corporation Limited Baptist House, 129 Broadway, Didcot, Oxfordshire OX11 8RT
Bankers
Lloyds Bank Whickham
Independent Examiner
Heritage Accountancy Prudhoe
The trustees present their Annual Report and financial statements for 2020.
Structure, Governance and Management
The Charity is governed by an Approved Governing Document. Members of the Church are accepted in accordance with the Constitution which requires them to be or to have been publicly baptised on the profession of faith in Jesus Christ or following other modes of baptism to renew their public profession of faith in Jesus Christ.
The members Meeting normally takes place five times per year and has responsibility for the overall policy of the church. In accordance with the Constitution, the members appoint up to six Trustees, who together with the Minister, Church Secretary and Treasurer (who are also appointed by the Members), are responsible for the day to day running of the church’s work and witness, and the financial and legal aspects of the charity. All members are encouraged to take an appropriate part in the spiritual and practical tasks involved in the furtherance of the charitable objective.
Relevant matters may be submitted to the Church meeting by the Trustees for guidance or may be raised by members in Church meeting for further consideration by the Trustees.
Though the Constitution permits decisions to be made at Church meetings by appropriate majorities, the Church seeks to work by consensus wherever possible.
During the Coronavirus pandemic all church meetings have continued utilising Zoom, often with increased attendance governance has been maintained in accordance with the constitution.
Objectives and Activities
The principal purpose of the charity is the advancement of the Christian faith according to the principles of the Baptist denomination to include the advancement of education, community service and such other general charitable purposes in such parts of the United Kingdom and the world as the Church shall determine.
In order to achieve the principal objective, which is set out above, the Church provides a variety of activities both to its membership and to the community generally. The aim is to show the love of Jesus Christ in both word and deed and to bring people into a closer relationship with Him as living Lord.
Central to the work and witness of the Church is the provision of regular public services of Christian worship. These services take place each Sunday at 10.00 am. There are also occasional services at other times which are advertised on the Church Notice Board and the website at stocksfieldbaptistchurch.net. There is a full children’s programme during the morning services. The church seeks to be a friendly and welcoming community, and anybody is free to attend any of these services.
The church runs a series of house groups for the growth of faith and discipleship in the homes of some members, and further details of these can be obtained from the Trustees on request, or at the Sunday services of worship.
The church is responsible for a ‘Stay and Play’ Toddler Group which meets in the Church premises on Tuesday mornings, with the purpose of assisting the community and demonstrating the love of Jesus Christ. From time to time the Church runs courses in parenting, and courses for people interested in discovering more about Christianity, entitled ‘Jigsaw’ and ‘Alpha’.
The Church runs various events for Young People. The Youth Coordinator and an Ecumenical Group provide a witness and service in local schools. For people in the Third Age there is a thriving Luncheon Club.
The Church works with local ecumenical groups in various community projects including Holiday Club.
The church operates systems to ensure that all people working with children and vulnerable adults are appropriately vetted with regard to the Disclosure and Barring Service. The church gives 10% of it’s income to charitable organisations as shown in the accounts. The church has read the Charity Commission guidance on public benefit and is satisfied that the activities outlined above clearly demonstrate that the charity is providing a benefit to the public.
Achievements and Performance
During the Coronavirus pandemic the achievements and performance noted below were impacted to varying degrees. Zoom was utilised extensively and, where possible, there were some meetings held at church especially for children and youth. The activities most affected were Stay and Play and the Luncheon Club.
The Church does not only measure the success of its programmes in numbers, including financial numbers, but also less tangible areas like fellowship and encouragement. The Trustees recognise that these are difficult to measure, but believe that 2020 was a positive year in the life of the church, and that it will be able to pursue its mission purposes in 2021 with renewed enthusiasm.
Six people formally joined the church as members. No church members died during the year, and three moved to other churches in different parts of the country. At 31 December 2020 the membership stood at sixty-two.
Average attendance at worship services has remained stable during the year, and children’s work and youth work as been maintained on Zoom. The annual summer Holiday Club was also held utilising videos and activity packs. Thirteen people attended a ‘Puzzling Questions’ course exploring spirituality on Zoom. Both our Stay & Play Group and fortnightly Luncheon Club had to be cancelled during the pandemic and it is hoped will be started again in 2021 as part of our service to the local community.
Financial Review
The Church continues to raise the funds which it needs to carry on its activities from within its own membership and congregation. No wider public appeal was made for funds during the year.
The most significant expense relates to the ministry of the P Jorysz as Minister of the Church, to lead and co-ordinate the church’s activities including the Sunday Services, to provide pastoral care for the congregation and other people, and to equip and encourage the membership in their life, Christian witness and service. Ministry expense also includes T Knight Youth Coordinator who leads youth work and outreach into schools.
The Church expressed its part in the life of the wider church by making grants to national and international Christian organisations and societies with Christian aims and objectives compatible with the church’s own charitable purpose.
The Church is heavily dependent on its membership working as volunteers in all aspects of the church’s activities, many of which run with little or no impact on the church’s expenditure, but nevertheless contribute substantially to the achievement of the church’s objectives.
The financial results for the year, together with a summary of the accounting policies adopted are set out in the accompanying financial statements. The Coronavirus pandemic has had no significant impact on income and additional costs have broadly been offset by savings. Camera equipment for streaming services of £3877 was purchased.
The church is a participating employer within the Defined Benefit section of the Baptist Pension scheme and has been making ongoing deficit payments to cover the costs of past service of its employees within the scheme under a recovery plan. The church understands that if it had left the scheme at the year-end, it would have to have made a one-off payment estimated to be £49,800 to meet its statutory obligations to the scheme. The church has no plan to leave the scheme and expects to continue to make payments to the scheme in line with the recovery plan.
Reserves Policy
The reserves policy of Stocksfield Baptist Church is to hold three months of all expenditure plus a further three months staff costs to allow the church to adapt to any changes in the income or expenditure of the church.
Having considered the relevant risks of changes in income and expenditure, the Trustees have determined that the appropriate level of reserves is in the range £36,000 to £38,000. As at 31 December 2020, the church held total reserves of £80,752 of which zero were restricted and £18,110 designated. Reserves that were neither restricted nor designated amounted to £62,642.
The church is currently progressing a project to provide a new entrance with disabled access and toilet to be funded from special appeal and any available grants.
STOCKSFIELD BAPTIST CHURCH FINANCIAL STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2020 GENERAL RECEIPTS & PAYMENTS ACCOUNT
| GENERAL RECEIPTS & PAYMENTS ACCOUNT | ||
|---|---|---|
| Note Receipts Offerings Donations and other income 2 Income tax recovered on gifts Investment Income 3 Rents and contributions for use of premises Raised for other causes 4 Total Receipts Payments Ministry 5 Mission 6 Upkeep of church premises 7 Administration 8 Amounts passed on to other causes Total Payments Net receipts / (payments) for the year Transfers to / (from) general fund Cash balance at previous year end Cash balance at current year end PROPERTY FUND RECEIPTS & PAYMENTS ACCOUNT Note Receipts Offerings Income Tax Recovered on Gifts Total Receipts |
2020 60877 2768 13253 30 9750 0 86678 (54,384) (12,800) (12,563) (8,610) 0 (88,357) (1,679) 0 64321 62642 2020 3640 923 4563 |
2019 62002 8621 10501 43 10470 573 |
| 92210 (53,799) (19,125) (14,623) (3,048) (573) |
||
| (91,168) 1,042 0 63279 64321 |
||
| 2019 4140 754 |
||
| 4894 |
| Payments Repairs (4,493) Improvements (690) Total Payments (5,183) Net receipts / (payments) for the year (620) Transfers to / (from) general fund 0 Cash balance at previous year end 18020 Cash balance at current year end 17400 FAMILY FUND RECEIPTS & PAYMENTS ACCOUNT Note 2020 Receipts Donations 0 Total Receipts 0 Payments Contributions (315) Total Payments (315) Net receipts / (payments) for the year (315) Transfers to / (from) general fund 0 Cash balance at previous year end 1025 Cash balance at current year end 710 CHRISTIANS AGAINST POVERTY FUND RECEIPTS & PAYMENTS ACCOUNT Note 2020 Receipts Donations 0 Total Receipts 0 Payments CAP Subscriptions (552) Expenses Total Payments (552) Net receipts / (payments) for the year (552) Transfers to / (from) general fund 0 Cash balance at previous year end 552 Cash balance at current year end 0 STATEMENT OF ASSETS AND LIABILITIES AT 31 DECEMBER 2020 Note 2020 |
(339) 0 |
|---|---|
| (339) 4,555 0 13465 18020 |
|
| 2019 0 |
|
| 0 (90) |
|
| (90) (90) 0 1115 1025 |
|
| 2019 0 |
|
| 0 (720) |
|
| (720) (720) 0 1272 552 |
|
| 2019 |
Assets
| Bank and other cash balances Petty Cash Loyds Bank Current Account Loyds Bank Deposit Account Other monetary assets Debtors Loans made Gift aid claimed but not received Investment Assets 9 Assets Held for Church's own use 10 Total Assets Liabilities Current Liabilities 11 Long Term Loans 12 Pension Scheme Liability 13 Other Liabilities 14 Total Liabilities |
0 1802 78951 0 0 3566 0 2027299 2111618 (2,166) 0 (22,172) 0 (24,338) |
0 1998 81921 0 0 3655 0 2022228 |
|---|---|---|
| 2109802 (2,334) 0 (31,977) 0 |
||
| (34,311) |
The accounts and statement of assets and liabilities set out on pages (1 & 3) relating to the year ending 31st December 2020 are as approved by the Deacons.
Signed:
Kevin Frost - Secretary
Neill Parker - Treasurer
Date: 2nd March 2021
NOTES TO THE ACCOUNTS
1. Basis of accounts
These accounts have been prepared on a'receipts and payments' basis and in accordance with Section 133 Charities Act 2011
2. Donations and other income
| 2. Donations and other income | ||
|---|---|---|
| 2020 | 2019 | |
| Donations | 300 | 70 |
| Legacies | 0 | 0 |
| Memorial gifts | 0 | 0 |
| Mission Activities: |
| Church Weekend Old people's Lunch club Roumania Mum's & Toddler's group Parenting Conference Youth Work Other income Total Donations and Other Income 3. Investment Income Bank Interest Trust Income Other Investment Income Total Investment Income 4. Raised for other causes Christian Aid Open Doors Marie Curie Total Raised for other causes 5. Ministry Minister's stipend Pension contribution Pension deficit fund National insurance Travel and general expenses Manse costs Other Ministry Total Ministry |
563 586 449 100 0 580 190 2768 2020 30 0 0 30 0 0 0 0 2020 (36,416) (3,658) (2,724) 0 (1,656) (9,540) (390) (54,384) |
3754 2516 0 619 952 580 130 |
|---|---|---|
| 8621 2019 43 0 0 |
||
| 43 225 102 246 |
||
| 573 2019 (33,719) (3,577) (3,553) 0 (3,260) (9,540) (150) |
||
| (53,799) |
The Minister acts as one of the church's trustees and receives remuneration and other benefits in respect of his services as Minister, including the provision of manse accomodation rented by the church from the Minister and his spouse. Also includes the Youth Coordinator who receives remuneration and other benefits in respect of his services as Youth Coordination.
| 6. Mission | ||
|---|---|---|
| 2020 | 2019 | |
| Home Mission | (4,200) | (3,960) |
| BMS World Mission | (2,500) | (2,500) |
| Peoples Kitchen | (200) | (520) |
| Scrtipture Union | 0 | (310) |
| Open Doors | (1,000) | 0 |
| SMILES | (500) | (500) |
| Uhuru | (600) | (1,600) |
| Church Weekend Old people's Lunch club Roumania Scientists in Congregation Mum's & Toddler's group Parenting Conference Sunday School & Youth Work Holiday Club Other Mission Giving Total Mission 7. Upkeep of church premises Utilities Cleaning Insurance Repairs & Maintenance Other Premises Total Upkeep of church premises 8. Administration Telephone and intenet Advertising and website Subscriptions and copyright license Equipment Audit PA systems Other administration Total Administration 9. Investment Assets Stocks and Shares Corporate bonds Gilts Investment property Other investment assets Total Investment Assets |
(563) (161) (471) 0 (68) 0 (956) 0 (1,581) (12,800) 2020 (4,436) (3,298) (2,195) (2,634) 0 (12,563) 2020 (432) (653) (1,006) (4,622) (274) (207) (1,416) (8,610) 2020 0 0 0 0 0 0 |
(3,613) (1,676) 0 0 (247) (916) (1,728) (682) (873) |
|---|---|---|
| (19,125) 2019 (3,663) (4,164) (2,158) (4,638) 0 |
||
| (14,623) 2019 (431) (571) (883) 0 (264) (349) (550) |
||
| (3,048) 2019 0 0 0 0 0 |
||
| 0 |
10. Assets Held for the Church's own use
The church is the beneficial owner (subject to relevant trusts) of the following assets, the legal title to which is held by the church's custodian trustee (The Baptist Union Corporation Ltd):
-
Church building at Main Road, Stocksfield, Northumberland valued in the accounts at £1,831,264 based on insured value
-
Church manse at 22 Birkdene, Stocksfield, Nothumberland valued in the accounts at £102,722 based on insured value
The church also owns fixtures, furniture and equipment with ans insured value of £93,133 based on insured value
11. Current Liabilities
| 11. Current Liabilities | ||
|---|---|---|
| Open Doors HMRC Tax Utilities Ministers Expenses Cheques written but not cashed Other current liabilities Total Current Liabilities 12. Long-Term Liabilities Baptist Building Fund Loan Baptist Union Loan Fund Loan Loans from Church Member's Other Total Long-Term Liabilities |
2020 0 (1,120) (546) (500) 0 0 (2,166) 2020 0 0 0 0 0 |
2019 (500) (1,142) (692) 0 0 |
| (2,334) 2019 0 0 0 0 |
||
| 0 |
13. 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 2019 by a professionally qualified Actuary using the Projected Unit Method. At the valuation date the market value of the DB Plan assets was £298 million, whilst the level of assets needed to pay benefits was £316m, giving a deficit of £18m (equivalent to a past service funding level of 94%). 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 2022.
Under the Schedule of Contributions, the church makes a monthly payment in respect of the DB scheme deficit, currently £307.95, which will increase in line with increases in Minimum Pensionable Income. The Schedule of Contributions foresees these contributions continuing until June 2026. The pension scheme liability shown in the Statement of Assets and liabilities is calculated as the current rate per month multiplied by the number of months remaining in the current Schedule of Contributions, which amounted to £22172 as at 31st December 2020.
The Church has been advised that the estimated cost for the church to buyout their Pension Scheme liabilities at [31 December 2020] was £49800.
- Other Liabilities (if applicable)
CHARITY COMMISSION FOR ENGLAND AND WALES Independent examiner's report on the accounts Section A Independent Examiner's Report Report to the trusteesl members of Stocksfield Baptist Church On accounts for the year ended 3181 December 2020 Charity no (if any) 1182577 Sat oul on pages 4-10 I report to the trustees on my examination of the accounts of the above harity ("the Trust") for the year ended 3111212020. Responsibilities and As the charity trustees of the Trust, you are responsible for the preparation basis of report of the accounts in accordance with the requirements of the Charities Act 2011 {"the Act.). I report in respect of my examination of the Trust's accounts carried out under section 145 of the 2011 Act and in carrying out my examination, I have followed the applicable Directions given by the Charity Commission under section 145(51{bl of the Act. I have completed my examination. I confimi that no malerial matters have come to my attention in connection with the examination which gives me cause to believe that in, any material respect.. accounting records were not kept in accordance with section 130 of the Act or the accounts do not accord with the accounting records Independent examiner's statement I have no cOnrn$ and have come across no other matters in connection with the examination to which attention should be drawn in order lo enable a proper understanding of Ihe accounts to be reached. Signed: Date: 2-Dil Name". Lorna Copple Relevant professional qualification(s) or body (if any): FCCA Address: Heritage Accountancy Ltd 76 Front Street, Prudhoe Northumberland, NE42 SPU Section B Disclosure Only complete if the examiner needs to highlight matters of concern (see CC32, Independenl examination of ch8rity accounts.. directions and guidance for examiners). IER October 2018
Give here brief details of any items that the examiner wishes to disclose. IER October 2018