Redcar Baptist Church
Charlty numb8r: 1186196
Financlal Statements for the year ended 31 December 2022

Radcar Baptist Church
Financial Statements for the year ended 31 December 2022
General Recèipts and Payments Account
Notes
2022
2021
April to
Receipts
Offerings and donations
GÉft aid
Grant inwme
Hire of p￿miseS
Manse
Common Ground
Eden
Interest
Other income
59,391
9,665
82,482
5,417
6,600
30,891
1,503
191
2,395
36,384
6,569
20,525
2,432
4,744
11,835
100
19
4,072
Total Receipts
198,535
86,680
Payments
Ministry, Youthlchildren & Administration
Premises
Impact
Giving
Other Ministries
Common Ground
BU Pension Deficit
Manse
Eden
Sundries
44.994
39.811
28,129
11,509
2,564
3.755
1.219
10,274
2,771
4,500
20,001
18)
6,322
2,936
31,291
2,192
6,000
30,763
290
Total Payments
Surplus of receipts over payments
33,936
1,966
Bank accounts and cash at 1 January
75,266
Bank accounts and cash at 31 December
109.202
75,266

Redcar Baptist Church
Financial Statements for the year ended 31 December 2022
Statement of Assets and Liabilities at 31 December 2022
2022
2021
Cash Funds as at 31 December
Cash
Barclays CUr￿n1 Account
Barclays Deposit Account
Baptist Union Account
Cash {Common Groundl
Barclays Current Account (Common Ground)
Barclays Current Accourit (Edenl
Barclays 08POSit Account (Eden)
70
3,059
75,822
6,652
127
3,139
41,992
6,550
2.598
468
20,522
3,006
463
19,987
109,202
75,266
Represented by
Cash funds as at t January/1 April
Cash
Barclays Current Account
Barclays Deposit Account
Baptist Union Account
Cash (Common Groundl
Barclays Current Account {Common Ground)
Barclays Current Account (Edenl
Barclays Deposit Account (Ed8nl
127
3,139
41,992
6,550
70
2,072
44,798
6,536
3,006
463
19,987
19,824
Surplus of receipts over paym8nts
33,936
1,966
109,202
75,266
Approv8d at a meeting of the Redcar Baptist Church's Leadership Team on
15 February 2023 which authoris8d the following trustees to sign on their behalf..
Mrs Cindy Riches
Church Secretary
Mrs Elizabelh Gibson
Treasurer

Redcar Baptist Church
Financial Statoments for tho year endèd 31 December 2022
Notes to the Financial Statements
Accounting policies
Basis of the financial statements
The financial statemonts of Redcar Baptist Church have been prepared in
accordance with section 133 of the Charities Act 2011 using the R8ceipts and
Payment basis
Fixturns. ffttlngs and 8qulpm8nt
The fumiture, fittings and other items of equipment are held on the premises. It
is unlikely that anything has significant market value. No asset register Is
maintained.
Grant in¢ome
2022
2021
Lady Hewley Trust
Brffa Award Grant
Eden Network Grant Funding {Eden)
BU Insupnce (Eden)
Church Urban Fund {Ed8n)
Amold Clark (Edenl
All Churches Trust
Allan Lane Foundation
35,877
16,820
16,980
7,090
4,715
1,000
12,525
4,500
3,500
Total
82,482
20,525
Ministry. Youthlchildren & Administration
2022
2021
Ministry
Youthlchildren
Administration
30,906
1.667
17.284
23,224
385
4,520
49,857
28,129
Less
Amount charged to Eden
Amount charged to Common Ground
(2,496)
(2.367)
Total

Redcar Baptist Church
Financial Statements for the year ended 31 December 2022
Premises
2022
2021
Church maintenan
Refijrbishment (Brffa Award Grant)
Manse maintenance
Church cleaning
Church insurance and utilities
3,800
27,123
70
3.373
9,045
4,136
728
1,334
5,311
43,411
11,509
Less
Amount charged to Common Ground
{3,600)
Totsl
39,811
11,509
Common Ground Coffee Shop
2022
2021
Recelpts
Sales
30,891
11,835
Total
30,891
11,835
Paymerrts
Staffing
Management
Premises
Adminloperational
Resources
Set Up Costs
8,989
2,367
3,600
665
15,670
882
961
6,377
2,054
Total
31,291
10,274

Red¢ar Baptlst Church
Flnancial Statements for the year ended 31 December 2022
Eden
2022
2021
Recelpts (Grant Income- see above (2))
Additional Giving
1,503
100
Total
1,503
100
Payments
Team Leader Salary
Activity Costs
Management
Admin & Operational
Partnership Contribution to Eden Ne￿rk
25,011
1,307
2.496
749
1.200
18.786
132
183
900
Total
30,763
20,001
Assets held for thg church's own uso
The church is the beneficial owner {subject to the relevant trusts) of the following
assets, the legal title to which is held by the church's custodian trustee, the
Baptist Union Cotporation Limited..
Church premises forwhich no valuation is included in the ftnanclal statements,
but the building is insured at a value of £1,415,112.
The manse for which no valuation is included in the financial statements, but
the building is insured at a value of £272,141.
The church also owns fixtures, fumiture and equipment with an insured value
of£73,413.

Redcar Baptist Church
Financial Statèments for the year ended 31 December 2022
Pension Scheme Liabilitles
The Church is a participating employer the Baptist Pension Scheme I'the
Scheme'}. which is a separate legal entity administered by the Pension Trustee
(Baptist Pension TnJst 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 De￿rnber
2011. Prior to this date the main benefjt provided through the Defined Benefit
{DB) Plan was a pension of one eightieth of final minimum pensionable income
for each year of pensionable seNice together with additional pension in respect
of premiums paid on Pensionable Income in excess of Minimum Pensionable
Income. sin￿ 1 January 2012, benefits have been provided through a Defined
ContribLrtion {DC} Plan.
A fomial valuation of the DB Plan as at 31 December 2019 was carried out 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 lo pay benefits was £316m, giving a deficit of £18m
(equivalent to a past service funding18vel of 940AI. The Church and the oth8r
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.
On 30th June 2022 the Baptist Pension Scheme Signed an agreement with the
insuran¢e company Just Group {'Just'l to secure DB Plan members, pension
benefits. Just are now providing financial backing for all pensions provided
through the Scheme's DB Plan and following this transaction, the S¢heme no
longer has a shortfall. An updated Recovery plan was then signed in August
2022 under which re¢overy contributions from each participating employer In
the DB Plan reduced to £1 per month from August 2022.

Redcar Baptist Church
Financial Statements for the year ended 31 December 2022
Independenl Examiner's Rèport to the T￿Stee8 and Members of Redcar
Baptist Church
I report on the financial statements of the Redcar Baptist Church (the Church) for the
year ended 31 December 2022 set out on pages 1 to 6.
Respective Responsibilitiès of trustees and examiner
The Church's trusteès are responsible for thè preparation of the financial statements.
They consider that an audit is not required for this year under section 144 of the
Charities Act 2011 {thè Charitiès Act) and that an indèpendent examination is needed.
It is my responsibility to..
examina the accounts under section 145 of tha Charities Act
to follow the procedures laid down in the Directions given by the Charity
Commission under section 145(5}Ib} of the Charities Act,. and
to state whether particular matters have come to my attention.
Basls of Independent examln8rf8 report
My examination was carried out in accordance with iha Directions given by the Charity
Commission. An examination includes a review of the accounting records kept by the
charity and a comparison of the financial statements presented with thos8 récords. It
also includ8s consid8ration of any unusual itèms or disclosures in the financial
statements and seeking explanations from the trustees Con￿rning any such matters.
Th8 procedures undertaken do not provide all the evidence that would be required in
an audit, and subsequently no opinion is given as to whether the accounts present a
'true and fair, view and the report is limited to those matters set out in the statement
below.
Independènt Examlner's SLthm8nt
l am satisfled that the General Rec81Pts and Payments Account discloses money
re￿iVed and expended by Redcar Baptist Church and that the Statement of Assels
and Liabilitles and the Notes to the Financial Statèm8nts present the financial position
of the church to the degree requlred by the Charities Act.
I have come across no matters of concern in connection with the examination to which
attention should be drawn in order to enable a proper understanding of the accounts
to be reached.
Jonathan Thompson
Date
1 Manor Farm Place
Graat Smeaton
Northallerton
DL6 2HP

Redcar Baptist Church
Financial Statements for the year ènded 31 December 2022
Report on Financial Managemènt for year 2022
Introduction
The Gen8ral Receipts and Pa￿nents Account and the Statement of Assets and
Liabilities summarise the finances for the year and disclose the financial position at
the end of the year.
A defficit budget was set and approved by the Church Business M88ting in November
2021. Monthly reports were re￿iVed by the leadership team which enabled them to
monitor perfomiance against budget and to consid8r any signfficant variances from
budget and the reasons for them.
Review of the Financès
Based on the combined General Receipts and Payments Account, the principal
points to be made are as follows=
Offerings have been higher than the budget set. We have been thankful for
members increasing their giving and for some lo start giving for the first time.
Thank you. W6 have also received one off donations this year and re￿iVed
legacies from members who are sadly no longer with us.
During the year a partnership was fomied between the Baptisl Church and tho
Redcar URC. A Lady Hewley Grant of £35,877 was received in July and this
was lo be used to fvnd a full time interim Baptist Pioneer Minister as per the
application. The Baptist Pioneer Minister would work with the local and regional
leadership of both the Baptist and URC churches and their role would be lo
ensure the URC building remain viable, that the building be used as a space
for use by the local community and to minister in word and sacrament to the
existing congregation. It was decided that the cu￿ent Baptist Minister take on
this role and to appoint a second Minister to minister at Redcar Baptist Church.
The new Minister will not be in post until 2023 so the Grant re￿iVed will be
used in 2023 and not 2022.
Due to our two main projects namely The Eden Project and Common Ground
Coffee Shop successfully moving forward it was agreed by members at the
Members meeting in November that a contribution to cover the management of
staff and use of facilities e.g gaslelectricjhire of building be transferred on a
monthly basis from the respective projects. This was reviewed after 6 months
and continued for the ￿st of the year.
utilitieslPremises. The roof was repaired at the start of th8 year, and we were
fortunate to be successful in receiving a grant from BIFFA for £27,965 which
has enabled us to refu￿$Sh the Kitchen, install hand driers in the toilets and
install an air conditioning unit in the Coffee Shoplcommunity Grocery area. We
have received £16,819.67 to date and will receive the balance lo cover the
outstanding expenditure in 2023 (approx. £10K).

Redcar Baptist Church
Financial Statements for the year ended 31 December 2022
Review of the Finances (continued)
The Eden Project continues to evolve and as per the partnership agreement
with The Eden Ne￿rk a grant of £16,980 has been receivad from Eden
Neiwork. The￿ is also a responsibility for Redcar Baptist Church to raise
additional funding each year. The following Grants have also been received.,
£7,090 from BU Insura[7￿, £4,714.99 from Church Urban Fund for a Ukrainian
Support Hub, £1,000 from Amold Clark to help fund a number of activities now
run by the team e.g Community Allotffent. As activities continue into the next
financial year a proportion of these grants received will be carried foNard into
2023.
The Common Ground Coffee Shop sales have steadily increased during the
year and a suc¢essful stall at the Festival ofThrift in September bought in much
needed funds. A freezer was purchased and repairs to the coffee machine
were ￿quired during the year hen￿ just about breaking even on the year.
The Baplist Union Pension Scheme. At the end of June 2022, the Baptist
Pension Scheme signed an agreement with the Insuran￿ company Just Group
{'Just'l to secure members. pension benefits under the Defined Benefit ('DB')
Plan. This agreement is referred to as a 'buy-in Folicy,. It follows a similar
agreement with Just in 2019 thal covered most pensions in payment at that
time. The combined agreements mean that Just are now providing financial
backing for all D8 pensions provided through the Scheme's DB Plan. For us
this meant a reduction in contributions from £312.48 per month to £1 per month.
Reserves Policy
The reseNes policy of Redcar Baptist Church is to hold three months of all expenditure
to allow the church to adapt to any changes in the financial position of the church. The
Trustees currently believe this amount to be £23,174 compared to £49,726 in free
cash reserves held at 31 December 2022.
The Trustee6 would lik8 to take the opportunty to thank the church family for their
continued fmancial support over this period.
The Trustees of Redcar Baptist Church
(15 February 2023)