| Revd D Pulham | Minister and Trustee |
|
|---|---|---|
| J French | Secretary, Deacon and Trustee | |
| R French (appointed | 10.4.22) | Treasurer, Deacon and Trustee |
| DJones (retired as | Treasurer 10.4.22) | Treasurer |
| A Plank (retired 10.4.22) | Deacon and Trustee | |
| TPorter (appointed | 10.4.22) | Deacon and Trustee |
| S Chapman | Deacon and Trustee |
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| 1 | ACCOUNTING POLICIES |
|||||
|---|---|---|---|---|---|---|
| The accounts have been prepared under the historical cost convention and |
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 (FRS102) | |||||
| issued on 16July 2014. | ||||||
| and with the Charities Act 2011. | ||||||
| The Charity meets the definition ofa public benefit entity under FRS102. |
||||||
| The principal accounting policies adopted in the preparation ofthe financial |
statements | have been | ||||
| reviewed in light ofadopting FRS102as opposed to the previously adopted |
FRSSE. | |||||
| No change in accounting policies was seen to be needed and no restatement |
ofcomparative | figures was | ||||
| required. | ||||||
| Incoming resources | ||||||
| Income received from donations and grants is included in incoming resources when |
these are receivable. | |||||
| Income tax recovered is included in the period in which the donation that gave rise |
to it | occurred. | ||||
| Interest is included when receivable by the Church. |
||||||
| In order to perform it's charitable activities the Church is dependant upon voluntary |
help provided | |||||
| by members and friends ofthe Church. The value ofsuch help is impossible |
to quantify and |
is not included | ||||
| in the accounts. | ||||||
| Fund accounting | ||||||
| Funds held by the Church are either: | ||||||
| Unrestricted general funds —these are funds which can be used in accordance with |
the charitable | |||||
| objects ofthe Church | ||||||
| Restricted funds - these are funds that can only be used for particular purposes within the |
objects of | |||||
| the Church. The Church currently operates restricted funds as follows; |
||||||
| The tithe fund for donations in support ofcauses that have similar objects to the Church |
||||||
| Little fishes fund to be used for the Little Fishes children's activity club |
||||||
| Holiday at Home to be used on a holiday at home event for elderly. | ||||||
| Vision Fund monies are held to further the vision statement as specific needs arise. |
||||||
| This fund is now closed. |
||||||
| Welfare fund for the relief ofhardship locally |
||||||
| The Youth Project Fund represents monies transferred to the care ofthe Baptist Church |
from the Shipston | |||||
| joint churches during the year under review. |
| The key financial assumptions | The key financial assumptions | underlying | the valuation | were as follows: | ||
|---|---|---|---|---|---|---|
| TYPE OF | ASSUMPTION | %pa | ||||
| RPI price | inflation assumption |
3.20 | ||||
| CPI price | inflation assumption |
2.70 | ||||
| Minimum | Pensionable Income |
Increases | (CPI plus 1.0% | pa) | 3.20 | |
| Assumed | investment returns |
|||||
| —Pre-retirement | 2.95 | |||||
| —Post-retirement | 1.70 | |||||
| Deferred | pension increases | |||||
| -Pre April 2009 | 3.20 | |||||
| -Post April 2009 | 2.50 | |||||
| Pension | increases | |||||
| -Main Scheme pension | 2.70 |
| 2. | MINISTRY | ||||||||
|---|---|---|---|---|---|---|---|---|---|
| 2022 | 2021 | ||||||||
| E | |||||||||
| Salaries | 56,600 | 46,941 | |||||||
| Employer's pension contributions |
(2021:incl. | deficiency contributions) | 4,617 | 7,969 | |||||
| Employer's national |
insurance | 4,285 | 3,537 | ||||||
| Pastoral care | expenses | 823 | 993 | ||||||
| Manse expenses | 10,728 | 10,710 | |||||||
| Children's Ministry Leader expenses |
108 | ||||||||
| Ministry gifts | 580 | 610 | |||||||
| Training costs | including | conferences | 260 | 30 | |||||
| Pastoral mileage expenses | 396 | 485 | |||||||
| Worship group/online | worship | 148 | 330 | ||||||
| 78,437 | 71,712 | ||||||||
| Average number ofemployees | 3 | 2 | |||||||
| No employee | received | emoluments | in excess ofE60,000 | ||||||
| Trustee remuneration | and ex enses | ||||||||
| 2022 | 2022 | 2022 | 2022 | ||||||
| f | E | E | f | ||||||
| Gross | Employer | Employer | Reimbursed | ||||||
| salary | Nl | Pension | expenses | ||||||
| contributions | contributions | ||||||||
| D Pulham | 29,700 | 3,002 | 3,810 | 2,792 |
| 3. | MISSION | 11 | |||
|---|---|---|---|---|---|
| 2022 | 2021 | ||||
| E | E | ||||
| Junior church | 284 | 126 | |||
| Alpha course expenses Catering costs |
41 566 |
481 | |||
| Little fishes (restricted) | 2 177 | 364 | |||
| Rock solid | 126 | 202 | |||
| Holiday at home (restricted) | 1,374 | ||||
| Welfare fund payments | (restricted) | 1,745 | |||
| Other outreach | 827 | 728 | |||
| 5,395 | 3,645 | ||||
| 4. | ROOMS AND BUILDING | HIRE | |||
| 2022 | 2021 | ||||
| f | E | ||||
| Hall rental | 6,479 | 3,243 | |||
| Storage | 64 | 339 | |||
| 6,543 | 3,582 | ||||
| 5. | ADMINISTRA I'ION | COSTS | |||
| 2022 | 2021 | ||||
| f | f | ||||
| Printing, stationery |
and | postage | 349 | 273 | |
| Telephone and internet |
425 | 426 | |||
| ITand equipment | 233 | ||||
| Subscriptions | 2,467 | 2,063 | |||
| Professional fees | 1,450 | 1,458 | |||
| Bank charges | 219 | 179 | |||
| Interest payable | 214 | ||||
| Insurance | 763 | 871 | |||
| Website costs | 548 | 39 | |||
| Build planning and |
design costs | 1,080 | 921 | ||
| Computer depreciation |
467 7,982 |
701 7,163 |
| 2022 | 2021 | ||||
|---|---|---|---|---|---|
| E | |||||
| Home mission | fund | 2,400 | 2,400 | ||
| Baptist Missionary | Society | 1,104 | 1,104 | ||
| OMF (M5J |
6riffiths) | 1,200 | 1,200 | ||
| Open Doors | 600 | 1,200 | |||
| Howard Jones | 100 | ||||
| Hobson and Mary |
1,000 | ||||
| Ukraine | 54 | ||||
| Mill House of | Bread | 1,008 | 1,008 | ||
| Batram | 600 | ||||
| CAP Donation | 1,200 | 1,100 | |||
| 8,166 | 9,112 | ||||
| 7. | SPECIAL COLLECTIONS FOR OTHER CAUSES | ||||
| 2022 | 2021 | ||||
| E | |||||
| Hobson and Mary | 1,336 | 2,717 | |||
| Ukraine | 4,277 | ||||
| 5,613 | 2717 | ||||
| 8 | FIXEDASSETS | Equipment | |||
| 2022 | |||||
| Written down | value brought forward | 1,401 | |||
| Addition in year |
|||||
| Depreciation | in year | (467) | |||
| Written down | value carried forward | 934 |
| Accounting date |
31Dec 2022 | 31Dec 2021 | ||
|---|---|---|---|---|
| Discount rate | 5.70% | 1.30% | ||
| Pensionable income |
N/A | 450% | ||
| The movement | in the provision | is set out below. | ||
| 2022 | 2021 | |||
| f | f | |||
| Opening liability |
17,540 | 21,280 | ||
| Minus deficiency contributions | paid | (2,167) | (3,653) | |
| Interest cost | 214 | 78 | ||
| Remaining change to balance sheet liability |
(15,587) | (165) | ||
| Balance sheet liability at year end | 17,540 |