OpenCharities

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

2020-12-31-accounts

Member of the Baptist Union

FAKENHAM BAPTIST COMMUNITY CHURCH Registered Charity number 1186184

CHURCH REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31[ST] DECEMBER 2020

1

FAKENHAM BAPTIST COMMUNITY CHURCH

CONTENTS

Page
Trustees’ report 1-10
Independent Examiners’ Report 11
Statement of financial activities 12
Balance sheet 13
Notes to the financial statement 14-19

2

FAKENHAM BAPTIST COMMUNITY CHURCH TRUSTEES’ REPORT FOR THE YEAR ENDED 31[st] DECEMBER 2020

The trustees present their report together with the financial statements for the year MayDecember 2020.

The financial statements have been prepared in accordance with the accounting policies set out on pages 13 & 14 and comply with the Charities Act 2011 and applicable law.

Leadership Team (Trustees) at the date of this report:

Tim Holland (re-elected November 2020) William Cuthill Susan Cuthill Ian Mizen William Strong Lynette Nash

Address:-

c/o 4 Plantation Road Fakenham Norfolk NR21 8PL

Other Advisors:

Bankers

Barclays Bank plc, Market Place, Fakenham

Solicitors Anthony Collins Solicitors, Edmund Street, Birmingham Independent Examiner Richard Newell, 3 Swan Court Swan Street, Fakenham

Structure, Governance and Management

Governing document:

The church was founded on 3[rd] May 1801, registered a Trust Deed on 11[th] July 1808, and is a member of the Baptist Union of Great Britain and Ireland. A new charitable Constitution was adopted on 22 June 2016 at a Special Meeting of the Church Members, and registered with the Charity Commission in England & Wales on 17[th] November 2016.

3

FAKENHAM BAPTIST COMMUNITY CHURCH TRUSTEES’ REPORT (CONTINUED) FOR THE YEAR ENDING 31[st] DECEMBER 2020

At a Special Church meeting on 15[th] September 2019, church members voted approval for moving from an unincorporated charity to a CIO (Charitable Incorporated Organisation). Approval from the Charities Commission has been received late Dec/early January, and this new charitable came into place 1xst May 2020.

Trustees/Organisation:

The current trustees are named on page 3.

The appointment of the Leadership Team and Trustees is set out in the Church Constitution.

Governance and management

The trustees are responsible for the overall governance of the church and its strategic direction and development.

Decisions are made by agreement of the trustees at regular intervals. Church Members Meetings are held three times a year and an update is given on current church affairs and finances. Minutes are taken and approved and signed at the next meeting.

Related Parties:

The church has ‘sister’ organisations, Fakenham Developments Ltd, which carries out building development activities of the church, and a registered charity Fakenham Community Support, charity number 1159268. Full details of related party transactions for the year are set out in note 10 to the accounts.

Risk Management:

The trustees have during the year continued to review the major risks to which the church is exposed and to establish systems to mitigate those risks identified not already covered by the church’s existing systems and risk management strategies and controls.

Aim and Core Values:

Aim: “To Know Jesus, and make him Known”

To see this become a reality we will:

  1. Provide opportunities for everyone to encounter with God through worship and prayer

  2. Equip people with a biblical foundation to live a Spirit-filled life

  3. Connect with our community by identifying needs and extending God’s love to all

Core Values:

Equip:

Connect

4

FAKENHAM BAPTIST COMMUNITY CHURCH TRUSTEES’ REPORT (CONTINUED) FOR THE YEAR ENDING 31[st] DECEMBER 2020

The church is committed to enabling as many people as possible to worship at our church and to become part of our church family. The Leadership Team maintains an overview of the church fellowship pastorally and the business side of the building and assets ensuring that we are available both spiritually and pastorally to the community of Fakenham and its surrounding villages. Each member of the Leadership Team has responsibilities for various aspects of church life, such as Prayer Ministry, Pastoral, Community, Administration and Finance and Life Groups.

Our services and worship put faith into practice through prayer, scripture, music and preaching the word of God. We plan our activities to try to enable ordinary people to live out their faith as part of our community through:

Achievements and Performance:

We have continued in 2020 to be without a minister however have been served well by both in-house speakers as well as visiting speakers during this time.

We continue to be supported as a leadership and as a church by our moderator, Jonathan Squirrell and he has continued to provide us with good spiritual insight and direction.

Services during Covid 19 pandemic : At the beginning of March 2020 Church services were suspended across the country. During the Covid 19 pandemic our Sunday church services have continued by Zoom with breakout rooms before and after the service, prayer rooms and a full service. The Leadership team catch up each week with each individual member either via Zoom lifegroups or telephone conversations to offer help and fellowship during these times. We have a dedicated church mobile where members can send messages for prayer or comfort which is then passed across the membership.

During the beginning of 2020 until the suspension due to Covid we had continued to meet for our Sunday services mainly at the Fakenham Community Centre as well as using the Salvation Army Headquarters Hall and even used the Village Hall in Little Walsingham. Once fellowship together can resume we look forward to meeting again.

Sunday Morning Services : this is a service of praise and worship and teaching where the whole church family can gather together in one place, during this gathering we offer Sunday Club activities for the toddlers to age 11, an older young person’s Bible Study Group, and a place where we offer Prayer Ministry to those who would like to receive it. During 2020 as part of our Sunday services a ‘Stay and Play’ group had been running, where families can meet within the church environment, stay for coffee and chat with facilities for children to play separately from the church service. This has proved very popular and a way of bringing new families to FBCC. We hold special services during the year for events such as Easter, Christmas, Remembrance, Harvest and each year in January we hold a service of re-commitment called a Covenant Service. (Suspended in 2020 due to Covid restrictions and conducted over zoom each week)

Life Groups: small Bible study groups held at people’s homes in Fakenham and in various villages in the surrounding areas to meet together and study the Bible and pray together(these have continued with weekly zoom meetings). The leadership continue to keep in touch with all church members either by zoom or a weekly phone call, offering fellowship and help wherever needed.

5

FAKENHAM BAPTIST COMMUNITY CHURCH TRUSTEES’ REPORT (CONTINUED) FOR THE YEAR ENDING 31[st] DECEMBER 2020

Little Fishes: this is a toddler group for pre-school children and their parents. This is a safe environment where children are provided various activities to engage with and parents have an opportunity to meet up, have a drink and socialise together, and sometimes just ‘take a breath’ ( Suspended in 2020 due to Covid restrictions)

CAMEO: (Come and Meet Each Other): this is a mid-week afternoon meeting aimed at those over 50. Meetings include songs/singing, Biblical teaching by various guest speakers and refreshments. They hold regular lunch gatherings and they also arrange various trips around Norfolk or further afield. (Suspended in 2020 due to Covid restrictions)

Corporate Prayer & Prayer & Prophetic prayer meetings : once a month meetings for church members and prayer teams to meet corporately . (Suspended in 2020 due to Covid restrictions) The Prayer & Prophetic group meet via zoom for prayer and encouragement.

Church in the Community: Fakenham is a market town and as such every Thursday the town centre is closed to traffic and a weekly market is held. The Church has a stall as often as possible within this market. We offer prayer and Bible readings to anyone who wants it. We talk to everyone including the other stall holders and we have various members of the church willing to be part of that team each week. These have continued whenever possible under Covid regulations .

Although our CAP (Christians Against Poverty) Debt Centre closed in 2018, we do however continue to be partnered with CAP and are seeking to continue running CAP Money Coaches through our trained coaches, David Mills and Louise Rafferty, where they can offer courses on the management of money and provide the skills to budget, save and spend, hopefully to prevent people entering into debt.

Property:

Clipbush Lane – Land – Owned by Fakenham Developments Limited (FDL):

On March 24[th] 2019, AC Bacon was appointed by FDL as lead contractor for the building of the new church premises. Ground was broken on Wednesday 12[th] June 2019.

2020 saw some disruption to our Building Project, however much progress has been achieved.

Energy calculations were made providing SBEM and ‘U’ values.

In spite of the lockdown ‘our contractor completed all the work on the external walls, roof, main internal partition, gutters, and downpipes and window openings.

They also fitted 5 out of the 6 emergency exit doors. The exit door from the mezzanine level will be fitted when the mezzanine floor is laid.

The sub-contractor completed all the foundations and laid the slab including ducts and pipes. They also dug the baptistery with supporting walls including a chamber outside for water drainage.

In July/August the windows were made and fitted. The mastics were completed outside and inside.

Our Architect has updated the building drawings and has applied for the Services to be connected to the site

A specialist company spent three days from 25th September digging deep holes on the Clipbush site measuring the rate of drainage. Two of the three tests were draining at a successful rate. These results were then analysed the results and designed soakaways for our site.

Our sub-contractor planned to put in the soakaways in November but due to the lockdown had to postpone their arrival until the New Year.Work began early January 2021 on digging the trenches in which to lay the pipes for the downpipes to the soakaways, which are huge!

6

FAKENHAM BAPTIST COMMUNITY CHURCH TRUSTEES’ REPORT (CONTINUED) FOR THE YEAR ENDING 31[st] DECEMBER 2020

On 17th December we met with some representatives from a local Building firm, including their managing director. I explained that we were looking to do the internal work in stages and asked if they would quote in this way. They said they were interested in working on our project. However they usually work on a whole project using their builders, electricians and plumbers etc. In other word a “Turnkey “project. They the next day explaining what information they would need in order to take on our project and sent me a list of 30 questions.It included paint colours, floor coverings and toilet furniture! After some discussion we realised that we are not in a position to pay for a “Turnkey “project. They were very helpful and have given us some very helpful guidance. We will have to do each stage as we can afford it.

In the summer of 2020 letters and leaflets were sent out to various grant organisations nationwide requesting help by donations to help us achieve our goal of the final build. Many organisations have suspended donations due to Covid 19 but to-date we have received donations of £1000. Requests for donations will continue to be sent out in 2021.

Priorities to be achieved in 2021:

Remove Spoil Internal walls and ceilings where necessary Electrical Contractor Heating/Cooling system BT connection Toilets Kitchen Coffee area Main staircase and Escape stairs Lighting Lift Fundraising Main door

Training:

Our volunteer teams continue to attend courses (usually hosted by third parties) as required/requested/needed in areas such as: Parenting/Child Protection/New Mums Support/Children with Special Additional needs/Safeguarding and First Aid

Mission:

The church supports various Mission organisations around the UK and the rest of the World including:

Ecumenical Relationships

The church is a member of ‘Churches Together in Fakenham’ and joint services are held throughout the year hosted by the different member churches. This includes Good Friday, where the churches have an opportunity to take a small service in the market square area of Fakenham and declare the gospel together. There are monthly meetings held with the Clergy, Ministers and Church leaders of the town and

7

FAKENHAM BAPTIST COMMUNITY CHURCH TRUSTEES’ REPORT (CONTINUED) FOR THE YEAR ENDING 31[st] DECEMBER 2020

we play an active part within that meeting. Many of these events have been suspended due to Covid, but we look forward to the time we can all meet together again.

Suspended Activities:

There are some things, although not many, that due to not being in permanent premises which still remain suspended for the time being, but we have a view to bring back in the future. These include:

Volunteers

Our church continues to be blessed to have many volunteers without whom we simply could not manage to do all that we do. As a diverse community of God’s people, we range in ages from 5 years old to way into the mid 90’s.

Our volunteers carry out a wide and diverse range of activities, including speaking, life group leading, worship leading and worship team, sound and media teams, CAP money coaches and support team, Sunday club leaders and helpers, ‘Stay and Play’ crèche leaders and helpers, prayer ministry teams, CAMEO leaders, finance and administration, Thursday market stall team, refreshments team, Sunday set-up team.

What we do as an expression of God’s love in Fakenham could not be done without each every one of our volunteers. THANK YOU ALL .

2020 Officials

Membership:

Over the year we have seen a number of new people coming to the church and are hoping that they choose to remain with us as part of our fellowship.

At the date of this report the church has approximately 50 adult members and around 10 children and young people directly connected to the church.

Moderator:

We continue in a period of interregnum, and whilst we are without a minister, we continue to enjoy the support and counsel of Rev Jonathan Squirrell as our moderator during this period. Jonathan and his wife Paige are currently ministering at Beacon Church in Bacton, Norfolk. Jonathan continues to meet with the Leadership team once a month, and attends our church business meetings. Jonathan and Paige also offer a number of teaching and training sessions for various teams without our church, and Jonathan continued to speak at a number of Sunday services during 2020, (through zoom services during the Covid restrictions)

8

FAKENHAM BAPTIST COMMUNITY CHURCH TRUSTEES’ REPORT (CONTINUED) FOR THE YEAR ENDING 31[st] DECEMBER 2020

CIO Transition:

Following the members vote for transition to CIO earlier in 2019, work continued working with our legal team and the Baptist Union and Charities Commission to achieve the transition. Agreement has been granted from the Charities Commission and CIO status was achieved on 1[st] May 2020. By changing to a CIO this will provide added protection to both members of the Leadership team and members of the church. The transition to CIO was completed and from 1[st] May 2020 Fakenham Baptist Community Church has become a CIO with a new charity number 1186184. A vote (via zoom) and voting forms to close the old charity was completed in November 2020 and working with the legal team this should be achieved on early 2021.

The Future:

The commencement of the building work in 2019 is a massive step forward for the church and we are excited that this has been achieved. We still have a way to go in raising the remaining funds to complete the fit-out once the main construction is complete, but we believe in a God who can do immeasurably more that we can ever ask, and we are confident that as He has brought us this far he has a plan for us in these matters.

The Church remains a fellowship of people faithfully seeking God’s will in all that we do. As such we are constantly listening to what God would have us do. This includes every facet of our church

We know that God continues to answer our prayers in practical matters.

We have been encouraged and blessed by the new people we are seeing join us for our Sunday services, including ‘Stay and Play’, and we continue to receive a number of encouraging feedbacks from people attending our services whether members or visitors.

We continue to be supported by a great group of volunteers, we are still excited for what faces Fakenham Baptist Community Church in the new challenges ahead, and we believe we are the church family are ready to continue making a difference in our communities in a relevant and meaningful way which demonstrates God’s love for mankind.

Although the Covid 19 pandemic affected our ability to meet as one, Sunday services have continued via zoom each Sunday, with Communion, fellowship and testimonies. Church members are contacted each week, either by telephone conversations or Zoom Lifegroups. We have a dedicated church mobile were messages of prayer and support can be posted and shared by text.

9

FAKENHAM BAPTIST COMMUNITY CHURCH TRUSTEES’ REPORT (CONTINUED) FOR THE YEAR ENDING 31[st] DECEMBER 2020

Statement of Trustees’ responsibility

The Trustees are responsible for preparing the annual report and the financial statements in accordance with applicable law and United Kingdom Generally Accepted Accounting Practice.

Law applicable to charitable organisations requires the trustees to prepare financial statements for each financial year which give a true and fair view of the charity’s financial activities during the period and of its financial position at the end of the period. In preparing financial statements giving a true and fair view, the trustees should follow best practice and:

The Trustees are responsible for keeping accounting records which disclose with reasonable accuracy the financial position of the trust. They are also responsible for safeguarding the assets of the charitable organisation and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Statement of disclosure to examiner:

This report has been prepared in accordance with Statement of Recommended Practice – Accounting and Reporting by Charities (issued in March 2015, updated 2016).

This report was approved by the Leadership Team and signed on behalf.

William Cuthill Elder

Tim Holland

Chair of Trustees

Date: 30/04/2021 ..............

10

FAKENHAM BAPTIST COMMUNITY CHURCH TRUSTEES’ REPORT (CONTINUED) FOR THE YEAR ENDING 31[st] DECEMBER 2020

Independent Examiner’s Report

I report to the trustees on my examination of the accounts for the year ended 30[th] April 2020.

Responsibilities and basis of report of trustees and examiner:

As the church’s trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘The Act’)

I report in respect of my examination of the church’s accounts carried out under section 145 of the 2011 Act, and in carrying out mu examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent Examiner’s statement

I have completed my examination; I confirm that no material matters have come to my attention in connection with the examination giving me reasonable 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 accounts to be reached.

Richard Newell

3 Swan Court Swan Street, Fakenham NR21 9FG

11

FAKENHAM BAPTIST COMMUNITY CHURCH TRUSTEES’ REPORT (CONTINUED) FOR THE YEAR ENDING 31[st] DECEMBER 2020

Statement of Financial Activities for the year ended 31[st] December 2020

Note Unrestricted
Funds		 Restricted
Funds
Property		 Restricted
Funds
CAP		 Total 2020
£ £ £ £
INCOMING RESOURCES
Incoming resources from generated funds
Voluntary income:
Donations 19,831 - - 19,831
Sales and Conference fees - - - -
Grants received - - - -
Legacies - 1,000 - 1,000
Other Misc income - - - -
Total Voluntary Income 19,831 1,000 - 20,831
Income from Assets - - - -
Sale of property - - - -
Interest Received 10 443 - 453
TOTAL INCOMING RESOURCES 19,841 1,443 - 21,284
RESOURCES EXPENDED
Charitable activities:
Direct Activity Costs 9,078 - - 9,078
Total cost of charitable activities 9,078 - - 9,078
Governance Costs
Other resources uses - -
-		 -
Purchase of land - -
-		 -
Property selling costs - - - -
TOTAL RESOURCES EXPENDED 9,078
-		 - 9,078
NET MOVEMENT IN FUNDS 10,763 1,443 - 12,206
Reconciliation of funds -
-
-		 -
Total funds brought forward - - - -
Net funds transferred -
-		 - -
Unrealised gain on revaluation 6,057
(219)		 - 5,838
Unrealised loss on revaluation - - - -
TOTAL FUNDS CARRIED FORWARD 271,889
440,922
3,271		 716,082

12

FAKENHAM BAPTIST COMMUNITY CHURCH TRUSTEES’ REPORT (CONTINUED) FOR THE YEAR ENDING 31[st] DECEMBER 2020

Balance sheet at 31[st] December 2020

Notes £ 2020
FIXED ASSETS
Freehold Property -
Tangible assets 539
Shares held 140
Total 679
CURRENT ASSETS
Debtors 592
Cash at bank and in hand 123,784
Total 124,376
CREDITORS
Transfer from Church to Missionary Support 820
Total 820
NET CURRENT ASSETS 123,556
Non-current assets 592,526
TOTAL ASSETS 716,082
UNRESTRICTED FUNDS 271,889
RESTRICTED FUNDS 444,193
TOTAL FUNDS 716,082

The financial statements were approved by the trustees on 30/04/2021................... And are signed on its behalf by

William Cuthill Elder Tim Holland Chair of trustees

13

FAKENHAM BAPTIST COMMUNITY CHURCH TRUSTEES’ REPORT (CONTINUED) FOR THE YEAR ENDING 31[st] DECEMBER 2020

Notes to the Financial Statements for the year ended 31[st] December 2020

1 Accounting Policies

1.1 Accounting Convention

The financial statements have been prepared under the historical cost convention, as modified by the revaluation of certain investments and include the results of the charity’s operation which are described in the Trustees’ Report and all of which are continuing. The accounts have been prepared in accordance with the Statement of Recommended Practice. (“SORP”), ‘Accounting and Reporting by Charities;’ published in March 2005 and applicable accounting standards.

The Charity has taken advantage of the exemption in Financial Reporting Standard No1 from the requirement to produce a cash flow statement.

1.2 Incoming Resources

All incoming resources are included in the statement of financial activities when the charity is entitled to the income and the amount can be quantified with reasonable accuracy. The following specific policies are applied to particular categories of income:

1.3 Resources expended

All expenditure is accounted for on an accrual basis and includes attributable VAT which cannot be recovered, and is reported as part of the expenditure to which it relates:

14

FAKENHAM BAPTIST COMMUNITY CHURCH TRUSTEES’ REPORT (CONTINUED) FOR THE YEAR ENDING 31[st] DECEMBER 2020

Notes to the Financial Statements (Continued) for the year 31[st] December 2020

1 Accounting policies (continued)

1.4 Tangible Fixed Assets and Depreciation

Items are capitalised where the purchase price exceeds £400 (2018 - £400)

Depreciation is provided at rates calculated to write off the cost or value of assets less estimated residual value, over their expected useful lives. It is calculated at the following rates:

Equipment – 25% reducing balance

Freehold property – nil (2018 – nil) Freehold property has been disposed of, and none is owned by the charity at the balance sheet time.

1.5 Investments

All surplus cash is held by the church or Baptist Union Trustees on behalf of the church, on cash deposits and bank current accounts, or in load account to Fakenham Developments Limited.

1.6 Fund Accounting

The restricted fund comprises accumulated surpluses and deficits and is available for use at the discretion of the trustees in furtherance of the charity’s objectives.

Restricted funds are created when grants or donations are received for a particular purpose, the uses of which are restricted for that purpose. Expenditure which meets these criteria is charged to the fund. The aim and use of each restricted fund is set out in the notes to the financial statements.

Certain property funds are restricted as to the capital values of property held within these funds. Interest arising on these funds is treated as income of the General Fund.

2 Analysis of Costs for Charitable activities and other resources

2020
CHARITABLE ACTIVITIES
Manse costs -
Office costs 3,351
Church Activity expenses 1,223
Ministry fees 1,600
Donations to other organisation 2,904
Cap Debt Centre running costs -
Total 9,078

OTHER RESOURCES EXPENDED

Other premises costs and fees

15

FAKENHAM BAPTIST COMMUNITY CHURCH TRUSTEES’ REPORT (CONTINUED) FOR THE YEAR ENDING 31[st] DECEMBER 2020

Notes to the Financial Statements (Continued) for the year ended 31[st] December 2020

3 Analysis of Governance Costs 2020
Accountancy/examination & Legal -
4 Net Incoming resources is stated after charging 2020
Depreciation of tangible assets: Owned 266
5 Tangible Fixed Assets Equipment
Cost or valuation:
At 30thApril 2020 2,474
At 31stDecember 2020
2,474
Depreciation 1,669
Charge for the year 266
Total 1,935
Net written down value
At 31stDecember 2020 539
6 DEBTORS 2020
£
Non-current
Fakenham Developments Limited 555,426
Less provision of FDL property revaluation 41,895
Less provision for FDL company losses 2,654
BU Trust Deposit accounts 81,110
Current
Gift Aid tax, debtors and payments in advance -
TOTAL 592,526
7 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Tax and social security -
Accruals and other creditors -
TOTAL -

16

FAKENHAM BAPTIST COMMUNITY CHURCH TRUSTEES’ REPORT (CONTINUED) FOR THE YEAR ENDING 31[st] DECEMBER 2020

Notes to the Financial Statement (Continued) for the year ended 31[st] December 2020

8 MOVEMENT IN FUNDS

Notes At
01.05.20		 Income Expenditure Investment
Movements		 Total
Unrestricted
funds
General Funds (a) 255,069 19,841 9,078 6,057 271,889
Restricted Funds
CAP Centre (b) 3,271 - - - 3,271
Property Funds (c, d) 438,698 1,443 - (219) 439,922
Cross fund (e) 1,000 - - - 1,000
Total Funds 698,038 21,284 9,078 5,838 716,082

The Mill Court proceeds are held for the church by the Baptist Union’s Fuller Trust, and The Manse by the BU Holborn Trust. A small portion of the net sale proceeds of Mill Court is also held under an ancient BU property trust.

2020
£
Fuller Trust 80,543
Holborn Trust -
Ancient Trust 567

Additionally, the church’s Development fund amounted to £50,688

17

FAKENHAM BAPTIST COMMUNITY CHURCH TRUSTEES’ REPORT (CONTINUED) FOR THE YEAR ENDING 31[st] DECEMBER 2020

Notes to the Financial Statement (Continued) for the year ended 31[st] December 2020

9 Analysis of Net Assets between Funds

Fund balances at 31stDecember 2020 are represented by Restricted
Funds		 Unrestricted
Funds		 Total
Tangible fixed assets -
539		 539
Fixed asset investments -
140		 140
Net current assets - 123,556 123,556
Other non-current assets 444,193 147,654 591,847
Total 444,193 271,889 716,082

10 Related Party Transactions

The activities of Fakenham Developments Limited were as follows for the year:

2020
Income
Sales and grants
Expenses
Professional advice fees 224
Bank charges 34
Net realised (loss) for the year (674)

The assets of Fakenham Developments Limited at the Balance Sheet date were:

Land & work-in-progress 487,108
Provision for diminution in value (unrealised) (41,895)
Cash at Bank 23,353
Loan account with Fakenham Baptist Community Church (555,416)
Provision for diminution in stock value (unrealised) 41,895
Cumulative loss 2,654
Other creditors (-)

The church is the ultimate owner of this company, being 140 Ordinary Shares of £1 each. The company’s directors at the date of this report are Tim Holland and William Cuthill. The sole purpose of this company is to own and develop land at Clipbush Lane, Fakenham

18

FAKENHAM BAPTIST COMMUNITY CHURCH TRUSTEES’ REPORT (CONTINUED) FOR THE YEAR ENDING 31[st] DECEMBER 2020

The Charity Fakenham Community Support (registered in 2014) received the following income and incurred expenditure in the year to 31[st] December 2020:

expenditure in the year to 31stDecember 2020:
2020
Income £
Donations received -
Grant received -
Expended
Charitable Activities for the community -
Cash and Bank balances at the balance sheet date 937

The above figures are not included in the accounts of the church but are included here for completeness of an overall picture of the activities of the church ‘family’ during the year. The trustees of the charity at the date of this report were Joy Holland, Rachel Hughes and William Cuthill.

11 Staff Costs
2020
£
Salaries and wages --
Social security and pension costs --

No employee received emoluments of more than £50,000.

The average number of full time equivalent employees by
Function was: -
Charity workers -

19