REGISTERED CHARITY NUMBER: 1187105
Report of the Trustees and
Unaudited Financial Statements
for the Year Ended 5 April 2023
for
Godalming Baptist Church CIO
C J Bacon
BEd.(Hons.), AST, BFP, ACA
3 Wey Court
Mary Road
Guildford
Surrey
GU1 4QU
Godalming Baptist Church CIO
Contents of the Financial Statements
for the Year Ended 5 April 2023
|
|
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 |
17 |
Godalming Baptist Church CIO
Report of the Trustees for the Year Ended 5 April 2023
The trusteespresenttheir reportwith the financialstatementsof the charityfor the year ended5 April 2023. 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.
Thetrusteesconfirmthattheyhavereferredto theguidancecontainedin theCharityCommission'sgeneralguidance on
public benefit when reviewing the charity's aims and objectives and in planning future activities.
ACHIEVEMENT AND PERFORMANCE
DuringtheperiodtheChurchhassoughtto meetits objectivesby carryingoutmanyof theactivitieslistedabove.It has
carriedout a numberof its activitiesand has alsosupportedotherpeopleas theyhavesoughtto meetsimilar objectives.
However,theintermittentlockdownrestrictionsattimesmeantthatchurchactivitieswereeitherheldonlineor were
curtailed or were not run.
TheCharitycontinuedtosupportthosemissionariesservingoverseaswhoaremembersoftheChurchandwho were
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 2023
FINANCIAL REVIEW
Duringtheyearunderreview,theincomeoftheCharitywas£289,487(2022:112,743).Incomeincludestheprofit of
£156,638onthedisposalofthemanse.Incomefromdonationsof£92,503wassignificantlyhigherthanin 2022
(£62,030). Rental income from the manse was only for a part-period so was £3,600 instead of £21,600 in 2022.
Expenditurefor the year was £144,636(2022:133,113),of whichdepreciationof £44,139(2022:£46,690)was by far the
majoritem.Staffcostsincreasedfrom£9,954to £16,182,mainlydueto thefactthatbothemployeeswerein postfor a
fullyearwhereaslastyeartherewas theequivalentof oneemployeefortheyear.Majorcategoriesof expenditure were
grants to institutions, £25,362 (2022: £22,512), and repairs and decorating £13,939 (2022: £10,142).
Thechurchrecordedasurplusof£144,851(2022:deficitof£20,370).Afterthegainof£21,142(2022:£969)on the
provisioninrespectoftheBaptistPensionSchemeliability,thenetmovementinfundsisasurplusof£165,993to be
added to total funds brought forward (2022 :deficit of £19,401), leaving reserves of £1,889,436 to be carried forward.
The trusteesare aware that withoutthe profiton the disposalof the manseand the actuarialgain on the pension scheme
liability,thechurchwouldhavesufferedadeficit.However,expenditureof£44,139relatedtodepreciationof the
premisesandequipmentandthereforedidnotrepresentacashmovement.Theywillcontinuetomonitorthe financial
situation carefully.
Reserves policy
Thetrusteeshaveestablishedthelevelofreserves(thatisthosefundsthatarefreelyavailableexcluding designated
funds)thatthecharityoughtto have.Reservesareneededto ensurethatregularexpenditureanddonationsand grants
canbe maintainedin theshorttermshouldtherebe a reductionin thelevelof voluntaryincomereceived.Reserves are
heldtocoverpossibleemergencyrepairstotheChurchandotherbuildings.Thetrusteesconsiderthattheideallevel of
reservesis £50,000,approximatelythreemonthsof regularexpenditure.Unrestrictedcash balancesat 5 April2023 were
£980,842, thus comfortably 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
themembershipofthechurchunderthetermsoftheConstitution.Thetrustees(exceptforthoseinministerial office)
areappointedforaninitialthreeyeartermwiththeopportunityforre-appointmentattheendofthethreeyear term.
Eachtrusteeis providedwithcopiesof theConstitutionon request,as wellas accountsandminutes,andis 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 2023
Trustees
Mrs C Lawton
Mrs S Lucas
A Lucas
Mrs M Jones
Mrs M Toombs
P Barringer
M Bowgett (appointed 10.11.22)
A J Bennewith (appointed 10.11.22)
Rev P Jackson (appointed 1.10.22)
Independent Examiner
C J Bacon
BEd.(Hons.), AST, BFP, ACA
3 Wey Court
Mary Road
Guildford
Surrey
GU1 4QU
Approved by order of the board of trustees on ............................................. 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 2023.
Responsibilities and basis of report
AsthecharitytrusteesoftheTrustyouareresponsibleforthepreparationoftheaccountsinaccordancewith the
requirements of the Charities Act 2011 ('the Act').
I reportin respectof my examinationof the Trust'saccountscarriedout underSection145of the Act andin carrying out
my examinationI havefollowedallapplicableDirectionsgivenby theCharityCommissionunderSection145(5)(b)of the
Act.
Independent examiner's statement
Sinceyourcharity'sgrossincomeexceeded£250,000yourexaminermustbeamemberofalistedbody.Ican confirm
thatIamqualifiedtoundertaketheexaminationbecauseIamamemberoftheInstituteofCharteredAccountants in
England and Wales, which is one of the listed bodies.
I havecompletedmy examination.I confirmthatnomaterialmattershavecometo my attentioninconnectionwith 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.
.......................................................
C J Bacon
BEd.(Hons.), AST, BFP, ACA
3 Wey Court
Mary Road
Guildford
Surrey
GU1 4QU
19 March 2024
Page 4
Godalming Baptist Church CIO
Statement of Financial Activities
for the Year Ended 5 April 2023
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
£
102,914
11,168
-
3,600
10,112
156,638
284,432
14,996
18,913
81,392
11,316
126,617
157,815
(11,715)
21,142
167,242
1,717,992
1,885,234 |
Restricted
funds
£
5,055
-
-
-
-
-
5,055
-
-
-
18,019
18,019
(12,964)
11,715
-
(1,249)
5,451
4,202 |
5.4.23
Total
funds
£
107,969
11,168
-
3,600
10,112
156,638
289,487
14,996
18,913
81,392
29,335
144,636
144,851
-
21,142
165,993
1,723,443
1,889,436 |
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 |
The notes form part of these financial statements
Page 5
Godalming Baptist Church CIO
Balance Sheet
5 April 2023
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
£
886,708
23,651
980,842
1,004,493
(5,967)
998,526
1,885,234
-
1,885,234 |
Restricted
funds
£
-
-
4,202
4,202
-
4,202
4,202
-
4,202 |
5.4.23
Total
funds
£
886,708
23,651
985,044
1,008,695
(5,967)
1,002,728
1,889,436
-
1,889,436
1,885,234
4,202
1,889,436 |
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 |
The financialstatementswere approvedby the Boardof Trusteesand authorisedfor issueon .............................................
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 2023
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
Thefinancialstatementsofthecharity,whichisapublicbenefitentityunderFRS102,havebeenprepared in
accordancewiththeCharitiesSORP(FRS102)'AccountingandReportingbyCharities:Statement of
RecommendedPracticeapplicableto charitiespreparingtheir accountsin accordancewith the Financial Reporting
StandardapplicableintheUKandRepublicofIreland(FRS102)(effective1January2019)',Financial Reporting
Standard102 'The FinancialReportingStandardapplicablein the UK and Republicof Ireland'and the Charities Act
2011. The financial statements have been prepared under the historical cost convention.
Income
All incomeis recognisedin the Statementof FinancialActivitiesoncethe charityhas entitlementto the funds,it is
probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilitiesarerecognisedasexpenditureassoonasthereisalegalorconstructiveobligationcommitting the
charitytothatexpenditure,itisprobablethata transferofeconomicbenefitswillberequiredinsettlement and
the amountof the obligationcan be measuredreliably.Expenditureis accountedfor on an accrualsbasisand has
beenclassifiedunderheadingsthataggregateallcostrelatedtothecategory.Wherecostscannotbe directly
attributedtoparticularheadingstheyhavebeenallocatedtoactivitiesonabasisconsistentwiththeuse of
resources.
Grantsofferedsubjecttoconditionswhichhavenotbeenmetattheyearenddatearenotedasa commitment
but not accrued as expenditure.
Tangible fixed assets
Depreciationisprovidedatthefollowingannualratesinordertowriteoffeachassetoveritsestimated 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.
Restrictedfundscan onlybe usedfor particularrestrictedpurposeswithinthe 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 2023
1. ACCOUNTING POLICIES - continued
Pension costs and other post-retirement benefits
The churchpayspensioncontributionsfor its eligibleministerialstaffto the BaptistPensionScheme,whichis not
contractedoutforStatePensionpurposes.Contributionstothedefinedcontributionpensionelementof the
pensionschemearechargedtotheStatementofFinancialActivitiesintheyeartowhichtheyrelate.It also pays
deficitcontributionstotheBaptistPensionSchemeinrespectofthecloseddefinedbenefitplan.Movements in
theprovision,includingthechargetotheStatementofFinancialActivitiesandfurtherdetailsregarding the
definedbenefitplan, are set out in the notes to the financialstatements.The schemeis 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
Donations
Gift aid
Legacies
Designated gifts
INVESTMENT INCOME
Deposit account interest
OTHER INCOME |
|
5.4.23
£
92,503
14,040
-
1,426
107,969
5.4.23
£
10,112 |
|
|
5.4.22
£
62,030
13,689
1,513
5,706
82,938
5.4.22
£
50 |
|
|
|
|
|
|
|
|
|
|
|
|
|
5.4.23 |
|
5.4.22 |
|
|
|
£ |
|
£ |
|
|
Profit on disposal of manse |
156,638 |
|
- |
|
|
|
|
|
|
|
|
3. INVESTMENT INCOME
4. OTHER INCOME
continued...
Page 8
Godalming Baptist Church CIO
Notes to the Financial Statements - continued
for the Year Ended 5 April 2023
5. CHARITABLE ACTIVITIES COSTS
CHARITABLE ACTIVITIES COSTS |
|
|
|
Ministry costs
Administrative costs
Establishment costs
Mission costs |
Direct
Costs
£
14,996
18,913
81,392
-
115,301 |
Grant
funding of
activities
£
-
-
-
29,335
29,335 |
Totals
£
14,996
18,913
81,392
29,335 |
|
|
|
144,636 |
6. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or benefits for the year.
(2022:SandraPlatfordreceivedremunerationof £4,015andpensioncontributionspaidon herbehalfwere £259
for the period 6.4.21 to 4.5.21, her date of resignation).
Trustees' expenses
There were no trustees' expenses paid for the year ended 5 April 2023 nor for the year ended 5 April 2022.
7. STAFF COSTS
Wages and salaries
Other pension costs
The average monthly number of employees during the year was as follows:
Ministry
Administration |
5.4.23
£
15,913
269
16,182
5.4.23
1
1
2 |
5.4.22
£
9,524
430 |
|
|
9,954 |
|
|
5.4.22
-
1
1 |
No employees received emoluments in excess of £60,000.
continued...
Page 9
Godalming Baptist Church CIO
Notes to the Financial Statements - continued
for the Year Ended 5 April 2023
8. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
INCOME AND ENDOWMENTS FROM
Donations and legacies
Charitable activities
Premises hire
Income from events
Manse rental income
Investment income
Total
EXPENDITURE ON
Charitable activities
Ministry costs
Administrative costs
Establishment costs
Mission costs
Total
NET INCOME/(EXPENDITURE)
Transfers between funds
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 |
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 |
continued...
Page 10
Godalming Baptist Church CIO
Notes to the Financial Statements - continued for the Year Ended 5 April 2023
9. NET MOVEMENT IN FUNDS
The net movement in funds is stated after (crediting)/ charging the following:
|
5.4.23 |
5.4.22 |
|
£ |
£ |
Independent Examiner's Remuneration |
- |
- |
Depreciation- owned assets |
44,139 |
46,690 |
10. TANGIBLE FIXED ASSETS
COST
At 6 April 2022
Additions
Disposals
At 5 April 2023
DEPRECIATION
At 6 April 2022
Charge for year
At 5 April 2023
NET BOOK VALUE
At 5 April 2023
At 5 April 2022 |
Freehold
property
£
1,373,428
-
(416,838)
956,590
59,724
35,834
95,558
861,032
1,313,704 |
Plant and
machinery
£
629
-
-
629
236
98
334
295
393 |
Fixtures
and
fittings
£
51,121
1,414
-
52,535
18,947
8,207
27,154
25,381
32,174 |
Totals
£
1,425,178
1,414
(416,838) |
|
|
|
|
1,009,754 |
|
|
|
|
78,907
44,139 |
|
|
|
|
123,046 |
|
|
|
|
886,708 |
|
|
|
|
1,346,271 |
Underthe termsof the 1903TrustDeed,the churchmustuse any proceedsfromthe saleof the church premises
to buy or erect new premises for the furtherance of the Kingdom of God.
11. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Other debtors
Prepayments and accrued income |
5.4.23
£
14,675
8,976
23,651 |
5.4.22
£
13,460
7,893 |
|
|
21,353 |
continued...
Page 11
Godalming Baptist Church CIO
Notes to the Financial Statements - continued for the Year Ended 5 April 2023
12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
|
5.4.23 |
5.4.22 |
|
£ |
£ |
Other creditors |
5,967 |
3,146 |
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% if theemployeris inthesegregatedDCsection)to coverDeathinServiceBenefits, administration
costs,andanassociatedinsurancepolicywhichprovidesincomeprotectionforBPSmembersintheevent that
theyareunabletoworkduetolong-termincapacity.Thisincomeprotectionpolicyhasbeeninsuredby the
BaptistUnionof Great Britainwith Aviva. Membersof the Basic Sectionof BPS pay reducedcontributionsof 5% of
Pensionable Income, and their employers also pay a total of 5%.
Benefitsinrespectofservicepriorto1January2012areprovidedthroughtheDefinedBenefit(DB)Plan within
theBPS.Themainbenefitsforpre-2012servicewereadefinedbenefitpensionofoneeightiethof Final
MinimumPensionableIncomefor each year of PensionableService,togetherwith additionalpensionin respect of
premiumspaid on PensionableIncomein excessof MinimumPensionableIncome.The Scheme,previously known
as the BaptistMinisters'PensionFund,startedin 1925,but was closedto futureaccrualof definedbenefitson 31
December 2011.
AformalvaluationoftheDefinedBenefit(DB)Planwasperformedat31December2019bya professionally
qualifiedActuaryusingtheProjectedUnitMethod.ThemarketvalueoftheDBPlanassetsatthevaluation date
was £298 million.
ThevaluationoftheDBPlanrevealedadeficitofassetscomparedwiththevalueofliabilitiesof£18 million
(equivalentto a past servicefundinglevelof 94%).As a resultof the valuations,in additionto the contributions to
theDCPlansetoutabove,itwasagreedthatthestandardrateofdeficiencycontributionsfromchurches and
otheremployersinvolvedintheDBPlanwillremainatpreviouslyagreedlevels,increasingeachyearinline with
increasesintheMinimumPensionableIncome.Thedeficiencycontributionsarebroadlybasedon12% of
PensionableIncome/MinimumPensionableIncome,reflectingeachemployer'scontributionsinMarch 2015.
Some employersthat were involvedin the DB Plan for a short periodpay lower contributions.The Trusteeand the
Councilagreeda50%reductionforalldeficiencycontributionspayablebetween1July2020and31 December
2020.
Inaddition,theBaptistUnionofGreatBritainagreedtocontributealumpsumof£0.5mby31December 2020.
The Recovery Plan dated 30 September 2020 envisaged deficiency contributions continuing until 30 June 2026.
AttheendofJune2022,theBPSsignedanagreementwiththeinsurancecompanyJustGroupto secure
members'pensionbenefitsundertheDBPlan.Asaresult,theSchemenolongerhasashortfall.A revised
statementofcontributionswasannouncedinJuly2022withdeficitcontributionsfromeach participating
employerintheDBPlanreducingto£1permonthfromAugust2022.However,participatingemployers remain
responsible for providing a share of any additional funds that the DB Plan may require in the future.
continued...
Page 12
Godalming Baptist Church CIO
Notes to the Financial Statements - continued for the Year Ended 5 April 2023
13. PROVISIONS FOR LIABILITIES - continued
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
Section28.11AofFRS102requiresagreeddeficitrecoverypaymentstoberecognisedasaliability. The
movement in the provision is set out in the table below.
|
5.4.23 |
5.4.22 |
|
£ |
£ |
Liability at 6 April 2022 |
22,200 |
27,970 |
Contributions for the period |
(1,703) |
(5,030) |
Interest cost |
645 |
229 |
Remaining charge/(credit) to Balance Sheet (recognised in SOFA) |
(21,142) |
(969) |
|
|
|
Liability at 5 April 2023 |
- |
22,200 |
|
|
|
continued...
Page 13
Godalming Baptist Church CIO
Notes to the Financial Statements - continued
for the Year Ended 5 April 2023
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 6.4.22
£
81,229
1,313,704
323,059
1,717,992
-
3,249
2,202
5,451
1,723,443
as follows:
Incoming
resources
£
127,794
156,638
284,432
-
3,629
1,426
5,055
289,487 |
|
Net
movement
in funds
£
58,153
120,804
-
178,957
(12,231)
599
(1,332)
(12,964)
165,993
Resources
expended
£
(90,783)
(35,834)
(126,617)
(12,231)
(3,030)
(2,758)
(18,019)
(144,636) |
|
Transfers
between
funds
£
405,123
(416,838)
-
(11,715)
12,231
-
(516)
11,715
-
Gains and
losses
£
21,142
-
21,142
-
-
-
-
21,142 |
At
5.4.23
£
544,505
1,017,670
323,059
1,885,234
-
3,848
354
4,202
1,889,436
Movement
in funds
£
58,153
120,804
178,957
(12,231)
599
(1,332)
(12,964)
165,993 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
as |
|
|
|
|
|
continued...
Page 14
Godalming Baptist Church CIO
Notes to the Financial Statements - continued for the Year Ended 5 April 2023
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 |
At 6.4.21
£
65,843
1,349,539
323,059
1,738,441
1,500
2,387
516
4,403
1,742,844 |
Net
movement
in funds
£
31,213
(35,835)
-
(4,622)
(17,327)
862
1,686
(14,779)
(19,401) |
Transfers
between
funds
£
(15,827)
-
-
(15,827)
15,827
-
-
15,827
- |
At
5.4.22
£
81,229
1,313,704
323,059 |
|
|
|
|
1,717,992
-
3,249
2,202 |
|
|
|
|
5,451 |
|
|
|
|
1,723,443 |
Comparative net movement in funds, included in the above are as follows:
Unrestricted funds
General fund
Church Premises Fund
Restricted funds
Ambassadors' Fund
Pastoral Fund
Other restricted donations
TOTAL FUNDS |
Incoming
resources
£
105,263
(1)
105,262
3,550
1,775
2,156
7,481
112,743 |
Resources
expended
£
(75,019)
(35,834)
(110,853)
(20,877)
(913)
(470)
(22,260)
(133,113) |
Gains and
Movement
losses
in funds
£
£
969
31,213
-
(35,835)
969
(4,622)
-
(17,327)
-
862
-
1,686
-
(14,779)
969
(19,401) |
Gains and
Movement
losses
in funds
£
£
969
31,213
-
(35,835)
969
(4,622)
-
(17,327)
-
862
-
1,686
-
(14,779)
969
(19,401) |
|
|
|
|
(4,622)
(17,327)
862
1,686 |
|
|
|
|
(14,779) |
|
|
|
|
(19,401) |
continued...
Page 15
Godalming Baptist Church CIO
Notes to the Financial Statements - continued for the Year Ended 5 April 2023
14. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined position is as follows:
Unrestricted funds
General fund
Church Premises Fund
Legacy 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 |
Net
movement
in funds
£
89,366
84,969
-
174,335
(29,558)
1,461
354
(27,743)
146,592 |
Transfers
between
funds
£
389,296
(416,838)
-
(27,542)
28,058
-
(516)
27,542
- |
At
5.4.23
£
544,505
1,017,670
323,059 |
|
|
|
|
1,885,234
-
3,848
354 |
|
|
|
|
4,202 |
|
|
|
|
1,889,436 |
A currentyear12 monthsandprioryear12 monthscombinednetmovementin funds,includedin theabove are
as follows:
Unrestricted funds
General fund
Church Premises Fund
Restricted funds
Ambassadors' Fund
Pastoral Fund
Other restricted donations
TOTAL FUNDS |
Incoming
resources
£
233,057
156,637
389,694
3,550
5,404
3,582
12,536
402,230 |
Resources
expended
£
(165,802)
(71,668)
(237,470)
(33,108)
(3,943)
(3,228)
(40,279)
(277,749) |
Gains and
Movement
losses
in funds
£
£
22,111
89,366
-
84,969
22,111
174,335
-
(29,558)
-
1,461
-
354
-
(27,743)
22,111
146,592 |
Gains and
Movement
losses
in funds
£
£
22,111
89,366
-
84,969
22,111
174,335
-
(29,558)
-
1,461
-
354
-
(27,743)
22,111
146,592 |
|
|
|
|
174,335
(29,558)
1,461
354 |
|
|
|
|
(27,743) |
|
|
|
|
146,592 |
TheChurchPremisesFundisafixedassetreserve,maintained(byatransfertoorfromgeneralfunds)ata level
equalto thenetbookvalueof freeholdlandandbuildings.For2023,it alsoincludestheprofitonthesaleof the
manse, which will be used towards the future purchase of a new manse.
The LegacyFund was establishedin order to recordseparatelythe incomeand expenditurerelatingto the legacies
from former members.
continued...
Page 16
Godalming Baptist Church CIO
Notes to the Financial Statements - continued for the Year Ended 5 April 2023
14. MOVEMENT IN FUNDS - continued
TheAmbassadorsFundwasestablishedtoprovidefinancialsupportfortheworkofmissionariessentout from
the Church.
ThePastoralFundwasestablishedtoprovidefinancialassistancetothoseinneedinthechurchand local
community.
Other Restricted Donations relate to specific donations made by church members.
15. RELATED PARTY DISCLOSURES
TonyBennewith,whowasappointedasatrusteeon10.11.22isadirectorofBennewith2018Ltd, which
invoicedthechurch£3,360intheperiod10.11.22to5.4.23,forbookkeepingandaccountancyservices. The
balance outstanding at 5.4.23 was £nil.
Donationstotalling£12,370were receivedfrom the trusteesduringthe year (2022:£16,170)and a further £2,800
wasreceivedfromacharitabletrustconnectedwithachurchtrusteeduringtheperiodofhistrusteeship (2022:
£nil).
Page 17