```
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;
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*the Communion of the Lord's Supper which shall be observed at least once a month;
```
```
*evangelism and mission, locally, regionally, nationally and internationally;
```
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*the teaching, encouragement, welcome and inclusion of young people;
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*nurture and growth of Christian disciples;
```
```
*education and training for Christian and community service;
```
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*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
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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
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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
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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
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```
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...
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```
Page 7
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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
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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
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```
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
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```
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
```