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C| ## ## |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|