```
REGISTERED CHARITY NUMBER: 1187105
```
```
Report of the Trustees and
```
```
Unaudited Financial Statements
for the Year Ended 5 April 2022
```
```
for
```
```
Godalming Baptist Church CIO
```
```
Chrissie Bacon
Ynot House
3 Wey Court
Mary Road
Guildford
Surrey
GU1 4QU
```
```
Godalming Baptist Church CIO
```
```
Contents of the Financial Statements
for the Year Ended 5 April 2022
```
|||**`Page`**||
|---|---|---|---|
|**`Report of the Trustees`**|`1`|`to`|`3`|
|**`Independent Examiner's Report`**||`4`||
|**`Statement of Financial Activities`**||`5`||
|**`Balance Sheet`**||`6`||
|**`Notes to the Financial Statements`**|`7`|`to`|`16`|
```
Godalming Baptist Church CIO
```
## **`Report of the Trustees for the Year Ended 5 April 2022`**
```
The trusteespresenttheir reportwith the financialstatementsof the charityfor the year ended 5 April2022. The trustees
have adoptedthe provisionsof Accountingand Reportingby Charities:Statementof RecommendedPracticeapplicable to
charitiespreparingtheiraccountsinaccordancewiththeFinancialReportingStandardapplicableintheUK and Republic
of Ireland (FRS 102) (effective 1 January 2019).
```
## **`OBJECTIVES AND ACTIVITIES`**
```
TheprincipalpurposeoftheChurchistheadvancementoftheChristianfaithaccordingtotheprinciplesofthe Baptist
denomination.TheChurchmayalsoadvanceeducationandcarryoutothercharitablepurposesintheUnited Kingdom
and/or other parts of the world.
```
## `Summary of activities`
```
The activities may include but are not restricted to:
```
```
*regular public worship, prayer, Bible study, preaching and teaching;
```
- `baptism, as defined in the Union's Declaration of Principle;`
- `*the Communion of the Lord's Supper which shall be observed at least once a month;`
- `*evangelism and mission, locally, regionally, nationally and internationally;`
- `*the teaching, encouragement, welcome and inclusion of young people;`
- `*nurture and growth of Christian disciples;`
- `*education and training for Christian and community service;`
- `*giving and encouraging pastoral care;`
- `*supporting and encouraging charitable social action in the United Kingdom and abroad;`
- `*encouraging relationships with and supporting Baptists and other Christians.`
```
ThetrusteesconfirmthattheyhavereferredtotheguidancecontainedintheCharityCommission'sgeneralguidance on
public benefit when reviewing the charity's aims and objectives and in planning future activities.
```
## **`ACHIEVEMENT AND PERFORMANCE`**
```
DuringtheperiodtheChurchhassoughtto meet itsobjectivesbycarryingoutmanyof theactivitieslistedabove.It has
carriedouta numberof its activitiesandhas alsosupportedotherpeopleas theyhave soughtto meet similar objectives.
However,theintermittentlockdownrestrictionsattimesmeantthatchurchactivitieswereeitherheldonlineor were
curtailed or were not run.
```
```
The Charitycontinuedto supportthose missionariesserving overseas who are members of the Churchand whowere sent
out through the Ambassadors' Fund.
```
```
The trusteesfeel that over the courseof the year, the Charityhas been successfulin meetingits statedobjectives through
many of the activities that it has embarked upon.
```
```
Page 1
```
```
Godalming Baptist Church CIO
```
## **`Report of the Trustees for the Year Ended 5 April 2022`**
## **`FINANCIAL REVIEW`**
```
Duringtheyearunderreview,theincomeoftheCharitywas£112,743(8monthsended5.4.21:£120,706,including a
legacyof£28,653butexcludingthetransferfromtheoldCharitableUnincorporatedAssociation["CUA"]of £1,725,991).
Incomefromdonationswasslightlyhigherthanin2021but,asnoted,thatwasforan8 monthperiod.Incomethis year
has been boostedby rentingout the manse, yielding£21,600 (2021: £nil), but overall income still continuesto be affected
by the coronavirus lockdown.
```
```
Expenditurefortheperiodwas£133,113(8monthsended5.4.21:£118,422),ofwhichdepreciationof£46,690 (2021:
£32,217)wasbyfarthemajoritem.Staffcostsfellfrom£24,886to£9,954,mainlyduetothefactthatthe Minister
resignedon4.5.21andhasnotbeenreplacedyet.Majorcategoriesofexpenditureweregrantstoinstitutions, £22,512
(2021:£15,498), and repairs and decorating £10,142 (2021: £14,956).
```
```
Thechurchrecordedadeficitof£20,370(2021:surplusof£2,014excludingtheamountof£1,725,991transferred from
the CUA). After the gain of £969 (2021: £14,839)on the provisionin respect of the BaptistPensionScheme liabilitythe net
movementinfundsisadeficitof£19,401tobedeductedfromtotalfundsbroughtforward,leavingreserves of
£1,723,443 to be carried forward (2021:surplus of £1,742,844 after the transfer from the CUA).
```
```
Thetrusteesareawarethat,evenafterthepositivemovementonthepensionschemeliability,thechurchsuffered a
deficit.However,£46,690relatedtodepreciationofthepremisesandequipmentandthereforedidnotrepresenta cash
movement. They will continue to monitor the financial situation carefully.
```
## **`Reserves policy`**
```
Thetrusteeshaveestablishedthelevelofreserves(thatisthosefundsthatarefreelyavailableexcluding designated
funds)thatthecharityoughttohave.Reservesareneededtoensurethatregularexpenditureanddonationsand grants
canbe maintainedintheshorttermshouldtherebe a reductioninthelevelof voluntaryincomereceived.Reserves are
heldtocoverpossibleemergencyrepairstotheChurchandotherbuildings.Thetrusteesconsiderthattheideallevel of
reservesis £50,000,approximatelythreemonthsof regularexpenditure.Unrestrictedcashbalancesat 5 April2022 were
£375,714, thus exceeding the desired level of reserves.
```
## **`STRUCTURE, GOVERNANCE AND MANAGEMENT`**
## **`Governing document`**
```
GodalmingBaptistChurchisanunincorporatedcharitygovernedbyitsConstitutiondated19December2020.It was
registered as a charity with the Charity Commission on the same date, receiving charity number 1187105.
```
## **`Appointment, recruitment and training of trustees`**
```
The managementof the charityis the responsibilityof the trusteeswho are electedby nominationat the churchAGM by
the membershipof the churchunderthe terms of the Constitution.The trustees(except for those in ministerialoffice) are
appointedforaninitialthreeyeartermwiththeopportunityforre-appointmentattheendof thethreeyearterm. Each
trusteeis providedwith copiesof the Constitutionon request,as well as accountsand minutes,and is made aware of the
legal responsibilities they are accepting on their appointment.
```
## **`REFERENCE AND ADMINISTRATIVE DETAILS`**
## **`Registered Charity number`**
```
1187105
```
## **`Principal address`**
```
Godalming Baptist Church
Queen Street
Godalming
Surrey
GU7 1BA
```
```
Page 2
```
```
Godalming Baptist Church CIO
```
## **`Report of the Trustees for the Year Ended 5 April 2022`**
## **`Trustees`**
```
Rev S A Platford (resigned 4.5.21)
Mrs C Lawton
Mrs J Farrow (resigned 18.1.22)
Mrs S Lucas
A Lucas
Mrs M Jones
Mrs M Toombs
P Barringer (appointed 18.1.22)
```
## **`Independent Examiner`**
```
Chrissie Bacon
Institute of Chartered Accountants in England and Wales
Chrissie Bacon
Ynot House
3 Wey Court
Mary Road
Guildford
Surrey
GU1 4QU
```
```
Approved by order of the board of trustees on 10 November 2022 and signed on its behalf by:
```
```
A Lucas - Trustee
```
```
Page 3
```
## **`Independent Examiner's Report to the Trustees of Godalming Baptist Church CIO`**
## **`Independent examiner's report to the trustees of Godalming Baptist Church CIO`**
```
IreporttothecharitytrusteesonmyexaminationoftheaccountsofGodalmingBaptistChurchCIO(theTrust)for the
year ended 5 April 2022.
```
## **`Responsibilities and basis of report`**
```
AsthecharitytrusteesoftheTrustyouareresponsibleforthepreparationoftheaccountsinaccordancewith the
requirements of the Charities Act 2011 ('the Act').
```
```
I reportin respectof my examinationof the Trust'saccountscarriedoutunderSection145 of the Act andin carrying out
myexaminationI havefollowedallapplicableDirectionsgivenbytheCharityCommissionunderSection145(5)(b)of the
Act.
```
## **`Independent examiner's statement`**
```
I havecompletedmyexamination.I confirmthatnomaterialmattershavecometomyattentioninconnectionwith the
examination giving me cause to believe that in any material respect:
```
`1. accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or`
`2. the accounts do not accord with those records; or`
`3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination.`
```
I have no concernsand have come acrossno othermattersin connectionwith the examinationto whichattention should
be drawn in this report in order to enable a proper understanding of the accounts to be reached.
```
```
Chrissie Bacon
Institute of Chartered Accountants in England and Wales
Chrissie Bacon
Ynot House
3 Wey Court
Mary Road
Guildford
Surrey
GU1 4QU
```
```
Date: .............................................
```
```
Page 4
```
```
Godalming Baptist Church CIO
```
## **`Statement of Financial Activities`**
## **`for the Year Ended 5 April 2022`**
|`Notes`
**`INCOME AND ENDOWMENTS FROM`**
`Donations and legacies`
`2`
**`Charitable activities`**
`Premises hire`
`Income from events`
`Manse rental income`
`Investment income`
`3`
`Other income`
`4`
**`Total`**
**`EXPENDITURE ON`**
**`Charitable activities`**
`5`
`Ministry costs`
`Administrative costs`
`Establishment costs`
`Mission costs`
**`Total`**
**`NET INCOME/(EXPENDITURE)`**
**`Transfers between funds`**
`14`
**`Other recognised gains/(losses)`**
`Actuarial gains on defined benefit schemes`
**`Net movement in funds`**
**`RECONCILIATION OF FUNDS`**
`Total funds brought forward`
**`TOTAL FUNDS CARRIED FORWARD`**|`Unrestricted`
`funds`
`£`
`75,457`
`6,371`
`1,784`
`21,600`
`50`
`-`
`105,262`
`10,249`
`12,374`
`77,996`
`10,234`
`110,853`
`(5,591)`
`(15,827)`
`969`
`(20,449)`
`1,738,441`
`1,717,992`|`Restricted`
`funds`
`£`
`7,481`
`-`
`-`
`-`
`-`
`-`
`7,481`
`-`
`-`
`-`
`22,260`
`22,260`
`(14,779)`
`15,827`
`-`
`1,048`
`4,403`
`5,451`|`Year Ended`
`5.4.22`
`Total`
`funds`
`£`
`82,938`
`6,371`
`1,784`
`21,600`
`50`
`-`
`112,743`
`10,249`
`12,374`
`77,996`
`32,494`
`133,113`
`(20,370)`
`-`
`969`
`(19,401)`
`1,742,844`
`1,723,443`|`Period`
`20.12.19`
`to`
`5.4.21`
`Total`
`funds`
`£`
`114,250`
`6,154`
`-`
`-`
`32`
`1,725,991`|
|---|---|---|---|---|
|||||`1,846,427`|
|||||`21,491`
`13,913`
`60,971`
`22,047`|
|||||`118,422`|
|||||`1,728,005`
`-`
`14,839`|
|||||`1,742,844`
`-`|
|||||`1,742,844`|
```
The notes form part of these financial statements
```
```
Page 5
```
```
Godalming Baptist Church CIO
```
## **`Balance Sheet`**
## **`5 April 2022`**
|`Notes`
**`FIXED ASSETS`**
`Tangible assets`
`10`
**`CURRENT ASSETS`**
`Debtors`
`11`
`Cash at bank`
**`CREDITORS`**
`Amounts falling due within one year`
`12`
**`NET CURRENT ASSETS`**
**`TOTAL ASSETS LESS CURRENT LIABILITIES`**
**`PROVISIONS FOR LIABILITIES`**
`13`
**`NET ASSETS`**
**`FUNDS`**
`14`
`Unrestricted funds`
`Restricted funds`
**`TOTAL FUNDS`**|`Unrestricted`
`funds`
`£`
`1,346,271`
`21,353`
`375,714`
`397,067`
`(3,146)`
`393,921`
`1,740,192`
`(22,200)`
`1,717,992`|`Restricted`
`funds`
`£`
`-`
`-`
`5,451`
`5,451`
`-`
`5,451`
`5,451`
`-`
`5,451`|`5.4.22`
`Total`
`funds`
`£`
`1,346,271`
`21,353`
`381,165`
`402,518`
`(3,146)`
`399,372`
`1,745,643`
`(22,200)`
`1,723,443`
`1,717,992`
`5,451`
`1,723,443`|`5.4.21`
`Total`
`funds`
`£`
`1,392,961`
`28,569`
`357,362`|
|---|---|---|---|---|
|||||`385,931`
`(8,078)`|
|||||`377,853`|
|||||`1,770,814`
`(27,970)`|
|||||`1,742,844`|
|||||`1,738,441`
`4,403`|
|||||`1,742,844`|
```
ThefinancialstatementswereapprovedbytheBoardofTrusteesandauthorisedforissueon10November2022 and
were signed on its behalf by:
```
```
A Lucas - Trustee
```
```
C Lawton - Trustee
```
```
The notes form part of these financial statements
```
```
Page 6
```
```
Godalming Baptist Church CIO
```
## **`Notes to the Financial Statements for the Year Ended 5 April 2022`**
## **`1. ACCOUNTING POLICIES`**
## **`Basis of preparing the financial statements`**
```
Thefinancialstatementsofthecharity,whichisapublicbenefitentityunderFRS102,havebeenprepared in
accordancewith the CharitiesSORP (FRS 102) 'Accountingand Reportingby Charities:Statementof Recommended
PracticeapplicabletocharitiespreparingtheiraccountsinaccordancewiththeFinancialReporting Standard
applicablein the UK and Republicof Ireland(FRS 102) (effective 1 January2019)', FinancialReportingStandard 102
'TheFinancialReportingStandardapplicableintheUKandRepublicofIreland'andtheCharitiesAct2011. The
financial statements have been prepared under the historical cost convention.
```
## **`Income`**
```
All incomeis recognisedin the Statementof FinancialActivitiesonce the charityhas entitlementto the funds,it is
probable that the income will be received and the amount can be measured reliably.
```
## **`Expenditure`**
```
Liabilitiesarerecognisedasexpenditureassoonasthereisalegalorconstructiveobligationcommitting the
charitytothatexpenditure,itisprobablethatatransferofeconomicbenefitswillberequiredinsettlement and
the amountof the obligationcanbe measuredreliably.Expenditureis accountedforon an accrualsbasisand has
beenclassifiedunderheadingsthataggregateallcostrelatedtothecategory.Wherecostscannotbe directly
attributedtoparticularheadingstheyhavebeenallocatedtoactivitiesonabasisconsistentwiththeuse of
resources.
```
```
Grantsofferedsubjecttoconditionswhichhavenotbeenmetattheyearenddatearenotedasa commitment
but not accrued as expenditure.
```
## **`Tangible fixed assets`**
```
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life:
```
|`Freehold property`|`Straight line over 26 years. The church was being depreciated over 50 years in`|
|---|---|
||`the books of the old unincorporated charity and 24 years' depreciation had`|
||`been provided to the date of transfer.`|
|`Plant and machinery`|`25% on the reducing balance basis`|
|`Fixtures and fittings`|`25% on the reducing balance basis`|
```
Depreciationisnotprovidedonthemanseasthetrusteesconsiderthatitsvalueexceedsthecostatwhichit is
held in the books of the charity.
```
## **`Taxation`**
```
The charity is exempt from tax on its charitable activities.
```
## **`Fund accounting`**
```
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
```
```
Restrictedfundscanonlybe usedforparticularrestrictedpurposeswithinthe objectsof the charity. Restrictions
arise when specified by the donor or when funds are raised for particular restricted purposes.
```
```
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
```
```
continued...
```
```
Page 7
```
```
Godalming Baptist Church CIO
```
## **`Notes to the Financial Statements - continued for the Year Ended 5 April 2022`**
## **`1. ACCOUNTING POLICIES - continued`**
## **`Pension costs and other post-retirement benefits`**
```
The churchpayspensioncontributionsforitseligibleministerialstaffto theBaptistPensionScheme,whichis not
contractedoutforStatePensionpurposes.Contributionstothedefinedcontributionpensionelementof the
pensionschemearechargedtotheStatementofFinancialActivitiesintheyeartowhichtheyrelate.Italso pays
deficitcontributionstotheBaptistPensionSchemeinrespectofthecloseddefinedbenefitplan.Movements in
theprovision,includingthechargetotheStatementofFinancialActivitiesandfurtherdetailsregarding the
definedbenefitplan,are set out in the notes to the financialstatements.The scheme is a multi-employer pension
schemeanditisnotpossibletoidentifytheassetsandliabilitiesoftheschemewhichareattributableto the
church.InaccordancewiththeSORP(FRS102)theschemeisthereforeaccountedforasadefined benefit
contribution scheme.
```
```
Thechurchalsopayspensioncontributionsforeligiblenon-ministerialstafftoaseparatedefined contribution
scheme. These are charged to the Statement of Financial Activities in the year to which they relate.
```
## **`2. DONATIONS AND LEGACIES`**
|`Year Ended`
`5.4.22`
`£`
`Donations`
`62,030`
`Gift aid`
`13,689`
`Legacies`
`1,513`
`Designated gifts`
`5,706`
`82,938`
**`INVESTMENT INCOME`**
`Year Ended`
`5.4.22`
`£`
`Deposit account interest`
`50`|`Period`
`20.12.19`
`to`
`5.4.21`
`£`
`60,135`
`21,197`
`28,653`
`4,265`|
|---|---|
||`114,250`|
||`Period`
`20.12.19`
`to`
`5.4.21`
`£`
`32`|
## **`3. INVESTMENT INCOME`**
```
continued...
```
```
Page 8
```
```
Godalming Baptist Church CIO
```
## **`Notes to the Financial Statements - continued for the Year Ended 5 April 2022`**
## **`4. OTHER INCOME`**
```
Otherincomerepresentsthe donationof the net fundsfrom the oldcharity,GodalmingBaptistChurch (1127320)
to the new charity, Godalming Baptist Church CIO (1187105) at the date of transfer, 5 August 2020.
```
```
The net assets donated were as follows:
```
||`£`|
|---|---|
|`Tangible fixed assets`|`1,421,598`|
|`Debtors`|`24,264`|
|`Cash at bank`|`331,345`|
|`Creditors- amounts falling due within one year`|`(6,747)`|
|`Provisions for liabilities`|`(44,469)`|
|||
||`1,725,991`|
|||
## **`5. CHARITABLE ACTIVITIES COSTS`**
|`Ministry costs`
`Administrative costs`
`Establishment costs`
`Mission costs`|`Direct`
`Costs`
`£`
`10,249`
`12,374`
`77,996`
`-`
`100,619`|`Grant`
`funding of`
`activities`
`£`
`-`
`-`
`-`
`32,494`
`32,494`|`Totals`
`£`
`10,249`
`12,374`
`77,996`
`32,494`|
|---|---|---|---|
||||`133,113`|
## **`6. TRUSTEES' REMUNERATION AND BENEFITS`**
```
During the year, remuneration and benefits were paid to the following trustee:
```
```
SandraPlatfordreceivedremunerationof£4,015fortheperiod6.4.21to4.5.21,herdateofresignation (2021:
£17,940 for the period6.8.20 to 5.4.21) and pensioncontributionspaid on her behalf were £ 259 (2021: £1,968 for
the period 6.8.20 to 5.4.21).
```
## **`Trustees' expenses`**
```
Duringthe yearno expenseswere paidto trustees(2021:a totalof £98 was reimbursedto onetrusteein respect
of printing and computer expenses).
```
```
continued...
```
```
Page 9
```
```
Godalming Baptist Church CIO
```
## **`Notes to the Financial Statements - continued`**
## **`for the Year Ended 5 April 2022`**
## **`7. STAFF COSTS`**
|`Year Ended`
`5.4.22`
`£`
`Wages and salaries`
`9,524`
`Other pension costs`
`430`
`9,954`
`The average monthly number of employees during the year was as follows:`
`Year Ended`
`5.4.22`
`Ministry`
`-`
`Administration`
`1`
`1`
`No employees received emoluments in excess of £60,000.`
**`COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES`**
`Unrestricted`
`Restricted`
`funds`
`funds`
`£`
`£`
**`INCOME AND ENDOWMENTS FROM`**
`Donations and legacies`
`108,096`
`6,154`
**`Charitable activities`**
`Premises hire`
`6,154`
`-`
`Investment income`
`32`
`-`
`Other income`
`1,723,883`
`2,108`
**`Total`**
`1,838,165`
`8,262`
**`EXPENDITURE ON`**
**`Charitable activities`**
`Ministry costs`
`21,491`
`-`
`Administrative costs`
`13,913`
`-`
`Establishment costs`
`60,971`
`-`
`Mission costs`
`7,044`
`15,003`
**`Total`**
`103,419`
`15,003`|`Period`
`20.12.19`
`to`
`5.4.21`
`£`
`22,837`
`2,049`
`24,886`
`Period`
`20.12.19`
`to`
`5.4.21`
`1`
`1`
`2`
`Total`
`funds`
`£`
`114,250`
`6,154`
`32`
`1,725,991`|
|---|---|
||`1,846,427`|
||`21,491`
`13,913`
`60,971`
`22,047`|
||`118,422`|
## **`8. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES`**
```
continued...
```
```
Page 10
```
```
Godalming Baptist Church CIO
```
## **`Notes to the Financial Statements - continued`**
## **`for the Year Ended 5 April 2022`**
## **`8. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued`**
|**`NET INCOME/(EXPENDITURE)`**
**`Transfers between funds`**
**`Other recognised gains/(losses)`**
`Actuarial gains on defined benefit schemes`
**`Net movement in funds`**
**`TOTAL FUNDS CARRIED FORWARD`**|`Unrestricted`
`funds`
`£`
`1,734,746`
`(11,144)`
`14,839`
`1,738,441`
`1,738,441`|`Restricted`
`funds`
`£`
`(6,741)`
`11,144`
`-`
`4,403`
`4,403`|`Total`
`funds`
`£`
`1,728,005`
`-`
`14,839`|
|---|---|---|---|
||||`1,742,844`|
||||`1,742,844`|
## **`9. NET MOVEMENT IN FUNDS`**
```
The net movement in funds is stated after (crediting)/ charging the following:
```
||`Year ended`|`20.12.19`|
|---|---|---|
||`5.4.22`|`-5.4.21`|
||`£`|`£`|
|`Donation received from Godalming Baptist Church (1127320)`|`-`|`(1,725,991)`|
|`Independent Examiner's Remuneration`|`-`|`-`|
## **`10. TANGIBLE FIXED ASSETS`**
|**`COST`**
`At 6 April 2021 and 5 April 2022`
**`DEPRECIATION`**
`At 6 April 2021`
`Charge for year`
`At 5 April 2022`
**`NET BOOK VALUE`**
`At 5 April 2022`
`At 5 April 2021`|`Freehold`
`property`
`£`
`1,373,428`
`23,890`
`35,834`
`59,724`
`1,313,704`
`1,349,538`|`Plant and`
`machinery`
`£`
`629`
`105`
`131`
`236`
`393`
`524`|`Fixtures`
`and`
`fittings`
`£`
`51,121`
`8,222`
`10,725`
`18,947`
`32,174`
`42,899`|`Totals`
`£`
`1,425,178`|
|---|---|---|---|---|
|||||`32,217`
`46,690`|
|||||`78,907`|
|||||`1,346,271`|
|||||`1,392,961`|
```
Tangiblefixed assets were transferredfrom GodalmingBaptistChurch(1127320)to the CIO at their net book value
at the date of transfer (£1,421,599).
```
```
Underthetermsof the1903TrustDeed,thechurchmustuse anyproceedsfromthesaleof thechurch premises
to buy or erect new premises for the furtherance of the Kingdom of God.
```
```
continued...
```
```
Page 11
```
```
Godalming Baptist Church CIO
```
## **`Notes to the Financial Statements - continued for the Year Ended 5 April 2022`**
## **`11. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR`**
|**`11.`**
**`DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR`**|||
|---|---|---|
|`Other debtors`
`Prepayments and accrued income`
**`12.`**
**`CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR`**
`Other creditors`|`5.4.22`
`£`
`13,460`
`7,893`
`21,353`
`5.4.22`
`£`
`3,146`|`5.4.21`
`£`
`21,197`
`7,372`|
|||`28,569`|
|||`5.4.21`
`£`
`8,078`|
## **`13. PROVISIONS FOR LIABILITIES`**
```
ThechurchisanemployerparticipatinginapensionschemeknownastheBaptistPensionScheme ("the
Scheme").TheSchemeisaseparatelegalentitywhichisadministeredbythePensionTrustee(Baptist Pension
Trust Limited).
```
```
The minister is eligible to join the Scheme.
```
```
FromJanuary2012,pensionprovisionfortheMinisterswasmadethroughtheDefinedContribution(DC) Plan
withintheBPS.Ingeneral,memberspay8%oftheirPensionableIncomeandemployerspay6%of members'
PensionableIncomeintoindividualpensionaccounts.In addition,the employerpaysa further4% of Pensionable
Income(or3%iftheemployerisinthesegregatedDCsection)tocoverDeathinServiceBenefits, administration
costs,andanassociatedinsurancepolicywhichprovidesincomeprotectionforBPSmembersintheevent that
they are unable to work due to long-termincapacity.This income protectionpolicy has been insuredby the Baptist
UnionofGreatBritainwithAviva.MembersoftheBasicSectionofBPSpayreducedcontributionsof5% of
Pensionable Income, and their employers also pay a total of 5%.
```
```
Benefits in respect of service prior to 1 January2012 are providedthroughthe Defined Benefit (DB) Plan within the
BPS.Themainbenefitsforpre-2012servicewereadefinedbenefitpensionofoneeightiethofFinal Minimum
PensionableIncome for each year of PensionableService, togetherwith additionalpensionin respect of premiums
paidonPensionableIncomeinexcessofMinimumPensionableIncome.TheScheme,previouslyknownas the
BaptistMinisters'PensionFund,startedin1925,butwasclosedtofutureaccrualofdefinedbenefitson 31
December 2011.
```
```
AformalvaluationoftheDefinedBenefit(DB)Planwasperformedat31December2019bya professionally
qualifiedActuaryusingtheProjectedUnitMethod.ThemarketvalueoftheDBPlanassetsatthevaluation date
was £298 million.
```
```
ThevaluationoftheDBPlanrevealedadeficitofassetscomparedwiththevalueofliabilitiesof£18 million
(equivalentto a past service fundinglevel of 94%). As a resultof the valuations,in additionto the contributions to
theDCPlansetoutabove,itwasagreedthatthestandardrateofdeficiencycontributionsfromchurches and
otheremployersinvolvedintheDBPlanwillremainatpreviouslyagreedlevels,increasingeachyearinline with
increasesintheMinimumPensionableIncome.Thedeficiencycontributionsarebroadlybasedon12% of
PensionableIncome/MinimumPensionableIncome, reflectingeach employer'scontributionsin March 2015. Some
employersthatwereinvolvedintheDBPlanforashortperiodpaylowercontributions.TheTrusteeand the
Councilagreeda50%reductionforalldeficiencycontributionspayablebetween1July2020and31 December
2020.
```
```
continued...
```
```
Page 12
```
```
Godalming Baptist Church CIO
```
## **`Notes to the Financial Statements - continued for the Year Ended 5 April 2022`**
## **`13. PROVISIONS FOR LIABILITIES - continued`**
```
Inaddition,theBaptistUnionofGreatBritainagreedtocontributealumpsumof£0.5mby31December 2020.
The Recovery Plan dated 30 September 2020 envisaged deficiency contributions continuing until 30 June 2026.
```
```
At the end of June 2022, the BPS signed an agreementwith the insurancecompanyJust Group to secure members'
pensionbenefitsundertheDBPlan.Asaresult,theSchemenolongerhasashortfall.Arevisedstatement of
contributionswasannouncedinJuly2022withdeficitcontributionsfromeachparticipatingemployerinthe DB
Planreducingto£1permonthfromAugust2022.However,participatingemployersremainresponsible for
providing a share of any additional funds that the DB Plan may require in the future.
```
```
The key financial assumptions underlying the valuations were as follows (% pa):
```
|`Type of assumption:`|`% pa`|
|---|---|
|`RPI price inflation assumption`|`3.20`|
|`CPI price inflation assumption`|`2.70`|
|`Minimum Pensionable Income increases (CPI plus 0.75% 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`|`2.70`|
```
As thereis a largenumberof contributingemployersparticipatingin the Scheme,the Churchis unableto identify
its share of the underlyingassets and liabilitiesof the scheme. Accordingly,the chargefor the periodrecognised in
the Statement of Financial Activities represents the employer contributions payable.
```
## **`Movement in Balance Sheet liability`**
```
Section 28.11A of FRS 102 requiresagreed deficit recovery paymentsto be recognisedas a liability.The movement
in the provision is set out in the table below.
```
||`Year ended`
`5.4.22`|`20.12.19-5.4.2`
`1`|
|---|---|---|
||`£`|`£`|
|`Liability at 6 April 2021`|`27,970`|`44,469`|
|`Contributions for the period`|`(5,030)`|`(2,279)`|
|`Interest cost`|`229`|`619`|
|`Remaining charge/(credit) to Balance Sheet (recognised in SOFA)`|`(969)`|`(14,839)`|
||||
|`Liability at 5 April 2022`|`22,200`|`27,970`|
||||
```
continued...
```
```
Page 13
```
```
Godalming Baptist Church CIO
```
## **`Notes to the Financial Statements - continued`**
## **`for the Year Ended 5 April 2022`**
## **`14. MOVEMENT IN FUNDS`**
|**`Unrestricted funds`**
`General fund`
`Church Premises Fund`
`Legacy fund`
**`Restricted funds`**
`Ambassadors' Fund`
`Pastoral Fund`
`Other restricted donations`
**`TOTAL FUNDS`**
`Net movement in funds, included in the above are`
**`Unrestricted funds`**
`General fund`
`Church Premises Fund`
**`Restricted funds`**
`Ambassadors' Fund`
`Pastoral Fund`
`Other restricted donations`
**`TOTAL FUNDS`**|`At 6.4.21`
`£`
`65,843`
`1,349,539`
`323,059`
`1,738,441`
`1,500`
`2,387`
`516`
`4,403`
`1,742,844`
`as follows:`
`Incoming`
`resources`
`£`
`105,263`
`(1)`
`105,262`
`3,550`
`1,775`
`2,156`
`7,481`
`112,743`|`Net`
`movement`
`in funds`
`£`
`31,213`
`(35,835)`
`-`
`(4,622)`
`(17,327)`
`862`
`1,686`
`(14,779)`
`(19,401)`
`Resources`
`expended`
`£`
`(75,019)`
`(35,834)`
`(110,853)`
`(20,877)`
`(913)`
`(470)`
`(22,260)`
`(133,113)`||`Transfers`
`between`
`funds`
`£`
`(15,827)`
`-`
`-`
`(15,827)`
`15,827`
`-`
`-`
`15,827`
`-`
`Gains and`
`losses`
`£`
`969`
`-`
`969`
`-`
`-`
`-`
`-`
`969`|`At`
`5.4.22`
`£`
`81,229`
`1,313,704`
`323,059`
`1,717,992`
`-`
`3,249`
`2,202`
`5,451`
`1,723,443`
`Movement`
`in funds`
`£`
`31,213`
`(35,835)`
`(4,622)`
`(17,327)`
`862`
`1,686`
`(14,779)`
`(19,401)`|
|---|---|---|---|---|---|
|||||||
|||||||
|||||||
|||||||
```
continued...
```
```
Page 14
```
```
Godalming Baptist Church CIO
```
## **`Notes to the Financial Statements - continued for the Year Ended 5 April 2022`**
## **`14. MOVEMENT IN FUNDS - continued`**
## **`Comparatives for movement in funds`**
|**`Unrestricted funds`**
`General fund`
`Church Premises Fund`
`Legacy fund`
**`Restricted funds`**
`Ambassadors' Fund`
`Pastoral Fund`
`Other restricted donations`
**`TOTAL FUNDS`**|`Net`
`movement`
`in funds`
`£`
`76,987`
`1,349,539`
`323,059`
`1,749,585`
`(9,644)`
`2,387`
`516`
`(6,741)`
`1,742,844`|`Transfers`
`between`
`funds`
`£`
`(11,144)`
`-`
`-`
`(11,144)`
`11,144`
`-`
`-`
`11,144`
`-`|`At`
`5.4.21`
`£`
`65,843`
`1,349,539`
`323,059`|
|---|---|---|---|
||||`1,738,441`
`1,500`
`2,387`
`516`|
||||`4,403`|
||||`1,742,844`|
```
Comparative net movement in funds, included in the above are as follows:
```
|**`Unrestricted funds`**
`General fund`
`Church Premises Fund`
`Legacy fund`
**`Restricted funds`**
`Ambassadors' Fund`
`Pastoral Fund`
`Other restricted donations`
**`TOTAL FUNDS`**|`Incoming`
`resources`
`£`
`141,677`
`1,373,429`
`323,059`
`1,838,165`
`2,980`
`3,171`
`2,111`
`8,262`
`1,846,427`|`Resources`
`expended`
`£`
`(79,529)`
`(23,890)`
`-`
`(103,419)`
`(12,624)`
`(784)`
`(1,595)`
`(15,003)`
`(118,422)`|`Gains and`
`losses`
`£`
`14,839`
`-`
`-`
`14,839`
`-`
`-`
`-`
`-`
`14,839`|`Movement`
`in funds`
`£`
`76,987`
`1,349,539`
`323,059`|
|---|---|---|---|---|
|||||`1,749,585`
`(9,644)`
`2,387`
`516`|
|||||`(6,741)`|
|||||`1,742,844`|
```
TheChurchPremisesFundisafixedassetreserve,maintained(byatransfertoorfromgeneralfunds)ata level
equal to the net book value of freehold land and buildings.
```
```
The Legacy Fund was establishedin order to recordseparatelythe income and expenditurerelatingto the legacies
from former members.
```
```
continued...
```
```
Page 15
```
```
Godalming Baptist Church CIO
```
## **`Notes to the Financial Statements - continued for the Year Ended 5 April 2022`**
## **`14. MOVEMENT IN FUNDS - continued`**
```
The AmbassadorsFund was establishedto providefinancialsupportfor the work of missionariessent out from the
Church.
```
```
ThePastoralFundwasestablishedtoprovidefinancialassistancetothoseinneedinthechurchand local
community.
```
```
Other Restricted Donations relate to specific donations made by church members.
```
## **`15. RELATED PARTY DISCLOSURES`**
```
Donationstotalling£16,170werereceivedfromthetrusteesduringtheyear(2021:£12,960fortheperiod 6.8.20
to 5.4.21).
```
```
Page 16
```