ELTHAM PARK BAPTIST CHURCH Charity No 1190789 Annual Report and Finandal Ststements For the year ended 31 Dmber 2022
ELTHAM PARK BAPTIST CHURCH Contents Page Referen AdMIntraVe rktsns Tru5tees' report Statsment of Financlal ActwIt5 Balan Sheet Note5 to the Accounts 10-19 Independent Exalnir$ ReF(Vt
ELTHAM PARK BAPTIST CHURCH Reference and Administratlve Details Charity Name Ellham Park Baptist Churth Charity Reglstrntion Number 1190789 Reglstered and Admitrative Office 32a Westmount Roal London SE9 IJE Trustees ArrEokl Tarfing Patrfcki Mary Bailey-Barclay Alfred Bassah Jill RaceY Kathleen Nobbs Heather &>ldsworthy Rachel Priddle Andrew Goldsworthy Bankers Lloyds Bank PIC 25 Greshaffl Street London EC2V ?HN Independent Examlner field Sullan 9 Hare & Blllet Roaj ackheath London SE3 ORB
32a Westmount Road, Eltham, ELTHAM PARK BAPTIST CHURCH London SE9 IIE 020 8859 7740 Info@epbc.or&uk www.epbc.OTg.uk Trustees, Annual Report for the perSod from isr January 2022 to 31st December 2022 Charity name: Eltham Park Baptist Church Charlty reglstratlon number,. 1190789 Objectives and Activities Summury oAthe purpose5 Df the ¢ht7rity 05 set outln Its governlng document The principal purpose of the Church is the advancement of the Christian faith according to the principlÈs ol the Baptisi denominatSon. The Church may also advat)ce education and carry out other charitable purposes in the Unlted Kingdom andlor other parts tsf the world. Summory of the muin uctivities in rElution to those purposesfor the publlc benefit, In portlculur, the octivities* pmjects orservices identlfied In the uccounts. The Activlties may include but are not restrlcted to: -Regular public worship, prayer, Blble Study, preaching and tÈachlng. -Bapt15m, as defined in the Union's Declaration of Principle. -The Communion of the Lord's Supper which shall normally be observed at least once a month. -Evangelism and mission, locaSly, reglona15y, nationally and IntÈrnatlonalW. -The teaching, encouragement, welcome and incluslon of young people. -Nurture and growth of Christian disciples. -Educatlon and tralnlng for Christlan and communlty service. -Givlng and encouraging pastoral care. -supporting 3nd encouraglng charitable social actlon in the United Kingdom and abroad. -Encoura8in8 relationships with and supporting Baptists and other Christian5. Stotement confirmlng whether the Trustee5 h¢7ve hod regard to the guidtsnce Issuedby the Ch¢7rity Comn7iSSiOrt tsn publlc beneAIt The Trustees confirm that they have had regard to the guldance i5suÈd by the Charlty CommSsslon on public benefit. Worklng out ourpurpose thr9ugh our vision As trustees and members of Eltham Park, we are commltted to the development of our vislon statement to be a 'People-loving. lesus-centred Church,. To dchSeve thls aim, we set out a mission staternent, whlch underplns the purposes for all our activities as a church arkd ch8rltv. To love people os Jesus loves them, we willfotus on thefollowing three areGS.'
Our relutionship with God. We willseek to grow dependency upon God und go deeperin ourfvith. ive seek to do this so thot we orestrengthened to live o life thot reflectsjesus. We sholl Ilsten to God undbe trt7nsformedby Him through thefollowing wuys.- Worship t7ndpiayer Readlng scripture Preuching ond te(3ching God s Word Our relationshlps wlth euch other. We wlllseek to toke t7n interest in allpeople, encouruglng people to use their glfts ondfeel t7ppreclated. We wlllseek to support ond coreforone anotheros we Ilve out ourfalth through thefollctwing ways.. Encouruglng deeper relt7tlonshlps through smt711groups/homegroups Prtscticol corefor oll Intergenert7tional activities Ourrelotlohshlp wlth the woHd/communlty uround us. We willseek tD support Etlch other to live ond shtsre whojesus Is through the whole of ourlive5 both withln the communlty of Elthum ond the world around us. We wlll seek to do this in thefollowing ways.. Be ts positffve presence in the community Share ourfoith Be concernedlorotJrenvironment ondissue5 ofiustl To achleve these aims, the trustee5 organise and plan for regular thurch servlces, events and training. They also o¥ganise the maintenance of the premises in order to facilltate our meeting together. Achievaments and Performance Summory of the muin tichlevements of the churltyi tidentifvlng the dlfference the churlty'5 work hos made to the circumstances of its beneflciarles ony widerbeneflts to societyus a whole. Worshlp ond Pruyer.. We continue to meet every Sunday morning for a servSce Includlng sung worshlp, prayer and teaching. This is preceded by a prayer time and followed by tèa and coffee, where we aim to strengthen our relationshlps wlth each other and extend a warm welcome to those who are newto the church. On the flTSt Sunday of each month. we take communion together as part of the main Service. Our group of young people111-181 are now encouraged to loln us for this speclal act of worship- sornething new instigaled thls year. The second Sunday of each month Is a specific all-age serwce, where children and young people are Included, wlth teaching and worshlp aimed at all ages. Our third Sunday is usually followed by our church members meetlng- a tlme for prayer. discussion and decisions about the life of our church. Thls Is an att of worship in a different context. During the final Sunday of the month, we include updates about the mlsslonaries we support and have a time of prayer for thetn. In the last week of the month, we also gather for a specific time of prayer as a church. ThisyeHr, we have formally recognised a team of people who are developlng thelrglfts of leadingwor5hip at church, as well as our minlster and minlster-ln-training, and a growing group of peoplè willing to develop thelr gifts in preaching and teaching. We have continued to include a range of different faos to le3d parts of the servlce, from leading prayers, Bible reading, sharing the all-age talk, ghjing a testlmony, or sharing news. This is helping us to grow ourfaith and develc*p ourgifts- part of OUT mission statement and has encouraged a friendly and welcoming ethos In our servlces. We also brought bèck the much- loved birthday box, so anyone wlth a blrthday can ch005e a sweet treat and be sung to and prdyed for.
The services are organised to follow a serles of ihemes to deepen the 5plrltual understandlng and prattical application Into the everyday lThfeg of the congregation. These themes are chosen tO8ether bv those leading the preaching and teaching, to reflect the next step on our path towards meeting the 3im5 set out at the beginning. Since October, we havÈ a run mornlng Bible Study group that meet on a Sunday before the servi. This was begun as a iesponse to the need for some people to meet together, who are unable to participate in a weekday home group. The homegroups land Bible study group), contlnue to use nr)tes from the service theme, to delve deeper and dlscu55 the teaching presented, a5 well a5 provide opportunities to develop strorsger and supportive relationshlps with each other and to pray. We are pleased to see Continued growth in new famllies and individua15 who have settled at Eltham Park and have mède It their home church. In fact, we welcomed 10 new people in one go durlng the year. However, we are also sad to note the passlng of four of our older members. We held one wedding for mernbers of our own church, although the church was also hlred for wedding5 by members from the local community. We had four baptism5 and held a dedication 5eEvice for two children. Foll¢)wing from the murder of George Floyd. and a re¢ognltlon that racism need5 to be tackled rather than ignored, the church ran a series of studles following the book by Ben Llndsey, 'We need to talk about race,. Altogether, over 40 people took part. As a result, we have begun to actively redress the imbalance of people in leadership role5 and become more aware of cultural dIfferenS that may cause tension between people through lack of understanding. We are aware that this is not a tick boxsolution, but one that needs addressing over a long-term basis. Leodership Team.. Throughout the year the leadershlp of the church consisted of our mlnlster, Rev Ltscy Wrlght, our mSnister-in-training, Cherie Roger5 and a group of b&tweÈn 9 and 10 deacons, all of whom are trustees of the church. This team meets once a month to discuss the business of running the thurch and once a month for prayer. Two new deacons joined the team thls year and one resigned. Bulldings.. To reduce the heatlrig bSlls13st autumn, we agreed to meet in the church halls ratherthan the 5anctLJary. Thi5 saved money and ensured people were able to worship in the warmth. In fact, we had very positive feedback from the congregation who liked the informality and closeness uslng the halls generated. The number of people attending prayers before the service also Increased. The office has been revamped and updated, Includlng new desks and carpets. Postoral Cqre.- Followlng the easlng of Covid based restrictions, we reopened the Friendship Centre Lunch Club In March. This news was gratefully received ljy all the folks who attend- the majority beithg older folk from our local community who are not otherwise associated wlth the church. Numbers returned to pre-ctsvid lèvels of 40-45 bythe end of the year. Lunch Club also provided a Maundy Thursdaytea and a Chrlstmas dlnner. Small 'Bags of BlessinB' were glven at Easter to vulnerable older people we krhtrw locally, and these sarlle people a150 reiVed a Christmas Hamper. Our Pastoral Cère team tries to ensure that people we know who need a personal vlslt can receive one. Knit and Natter meet weekly and provide an opportunity to enjoy and learn more about knlttin& while developing deep frlendshlps. Our youth leaders contlnue to provide care, educatlon, fun and games In Boys, Brlgade, Glrls, Brigade, EPYC and Klngdom Kid5. The numbers In all these groups have steadily grown over the year, followinE the substantial dip Caused through Covld. We held a paricake evening for our families at the beginning of Lent and also held a 'Light Partty for chlldren assoclate(J with the church in October as an alternative to Halloween.
During the summer, we held è serles of events for our famllies to help new people build relationships wlth exlstlng member5. We also started a Famille5 WhatsApp gfoilp, whlch h2s enabled famlly members to ask for or offer support as needed. We held a wonderful Barn Dan at Haivest tlme, where people assocSated wlth our church Isuch as through Lunch Clubl came, ate, danced and got to know each other. Thi5 was also true of our fun-filled Christrnas Party. The ladies associated with the church, ran a very enjoyable Christmas craft evening following a supper. A further opportunity for those with partlculèr g1ft5 and skllls to be able to Share them wlth the wlder church family and beyond. However, we a150 became aware that there Is a gap In the pastoral care for the men In our church that needs to be addressed. Everyweek, we have messages asking for prayer on our PrayerNet. This is a wonderful waythat we show care and concern ftrr eèch other. Mlsslon ond Evongellsm.. This autumn, in response to thè rising cost of livlng and the increase in fuel prices, we tried to set up a arm Welcome, foranyone associated with the church Ithrough the pre-school. youth work, Lunch club etcl who needed a warm and frlendly space to stay in during the day. Unfortunately, desplte advertlslng, no tsne used the facllttles, so the venture was stopped after a few weeks. We continue to support four different MISSnarieS through a yearly glft and regular prayer. One work5 for XLP In London, one In RomanS3 and two are BMS misslonarie5. We ¢ontlnue to Support BMS and Home mlssion as part of our glvlng, along wlth Our local Food Bank. We collected chocolate èggs at Ea5terand toys 3tChrlstm3s for Superkidz, harvest produce to the Manna Centre and Food Bank and ra15ed over £500 for Macmillan In our coffee morning. We also transferred the primary use of our minl-bus to XLP, but aTe still housing the bus on our premises. Relatior15hips wlth other churchE5.' At Christmas, it was our turn to organlse the joint Caiol Singing between the churches on Westmount Road. We joined the Baptist Union CDnference live steam for one of our servlces. Volunteers.. We thank all the volunteers who make our church happen. This Includes those runnlng Lunch Club, Bov Brigade and Girls, Brlgade, EPYC, Kingdom Klds, Home Grouplbible study leaders, those who provlde and arrange the flowers, who organise Knit and Natter, provlde tea and coffee on a Sunday morning, those who take pastoral visits, who maintaln the premises, run the tech lor Sunday services, welcome people, Sort musSc, lead and preach, fill the blrthday box, prepare communion, orEanlse rotas, send emails and messages, sort ourfinances and those who garden. Withovt all the tremendous work that they do, there would be no Eltham Park Baptist Church. Structure, Governance ond Munogement.. The appointment of trustees is made in accordance with the 8aptlst Unlon guldelirbes and confirmed by our Church tonstitutlon, ratSfled in 2013. Trustees must be members of the church, nomlnated by a mlnimum of two member$ 2nd voted by 213s of the membership present at the electSon. The trustees are respon51ble for rnakinE decisions on all matters of general concern and Importance to the church Including deddlng on how the funds are to be spety)t but wlll brlng all 5ignlficant changes before the rnembers of the church for final instruction.
Financial Review Revlew of the charlty'5finunclulposititM ut the end olthe period A5 at 31 December 2022. the charity had total fund5 carried forward of £4,232,02612021- £4,307,064). The funds were represented predomlnantly by tangible fixed assets, mainly the church bulldlng and the Manse occupied by our mlnlster. Of these funds £Nil12021.' £Nill were restrlcted and the balance unrestricted. When considering the flnancial position, the Trustees conslder and monitor the cash and bank balance%. At the end of the year, bank and cash balances amounted to £191,22312021.. £227,868), a reduttlon of £36,645 from the balance at the start of the year. The TrLJStees have concluded thèt the flnancial posltion of the charity at the end OF the perlod was strong wlth sufficient assets available to 5UPPOrt the planned artivitie5 in thè future. Stutement exploining the policyforholding reseNes statlng why they are held The charity'5 pollcy15 to hold Teserves in unrestr4Cted funds sufficient to cover 5 month5, expenditure. The maln Sour of income for the charity is donations from members and others attendlng the church. The holding of r&serves at this level enables the charity to plan activities and commit to expenditure In the knowledge that should there be a drop In the level of income, or an unavoSdable unplanned expenditure requirement, the charity has sulflcient time to respond without a serious adverse Impact. In applylng this pollcy, the Trustees exclude Tangible Flxed Asset5 Iwhlch are not readlly realisablel and, in previous years, the Defined Pension SchEme Liability. Amount of resetves held At the end of the year the chaTity held free reserves of £190,69912021- £240,1191. This was 518nificantly in excess of the amount requlred to be held under the reserves policy. The reason that slgniflcant excess funds were held is that the charity received a substantial legacy in 2018. The amot4nt of the legacy w3$ £220,165, and ihe legacy included no restrictions as to it5 use. Durlng 2020 the church members decided to deslgnate two thlrds ol the money received through the legacy to fund an additional church worker to Support the minister, and the remaining one third to fund work required on the church property. At the end of the year the balance in the designated funds amounted to £131,094, leaving £59,605 withln the General Fund. Detuils offvndmuterlollyln defi¢l¢ At the year-end there were no funds materlally In defidt. Explt7notion of any uncertulnties about the chorlty continulng as o golng corttern Having censldered the financial positlon of the charity at the year end, tho monthly accounts prepared for subsequent periods and the expected activities over the forthcoming 12 months, the Trustees have concluded that there is no material uncertainty over the abSllty of the charity to contlnue as a going concern. They have therefore prepared the charft¢s accounts on a golng concern basis.
Reference and Admlnistrative details Charit name Registered charity number Charity's principal address Eltham Park Baptist Church 1190789 32a Westmount Road Eltharn London SE9 IJE Names of the charity trustees who manage the charlty Tru$tee harne Date$ acted if not for whole year Mame ol person lor borty) entitled lo appolnt tTUStee Ilf Office Ilf any) Rev. Lucy WTIEht Mlnister Eltham Park Baptist Church members Minister-In~ Training Cherle Rogers Colin Barnes To July 2022 From july 2022 Alfred Bassah Thomas Feasey Andrew Goldsworthv Heather Goldsworthy Kathleen Nobbs Treasurer Rachel Priddle Secretary 1111 Rackley Tracy Thomas From july 2022 Declarations The Trustee5 dedare that they have approved the Trustees, Report above. 518ned on behalf of the charlt¢5 trustees on................................. by.. Slgnature.. Name.. Positlon.. Rachel Rtsse Priddle Secretary Andrew Goldsworthy Treasurer
ELTHAM PARK BAPTIST CHURCH STATEMENT OF FINANCIAL ACTDIIIIES FOR THE YEAR ENDED 31 DECEMBER 2022 Note Unregtrlctad Restricted Total 2022 Urtre$trfcted Restrlrted Total 2021 Income and endowments fro Donatlons arvj legacles Investment incorne 81,883 L15 9,170 91,053 115 96,172 77 3,605 99,777 77 Other tradlng activltTes rotsl income 31,382 113,380 31,382 26,320 26,320 126,174 9,170 121550 122,569 3,fAJ5 expenditure Charftable ACe5 Mlnlstry M1551on 75,772 75,772 34,467 105,511 70,446 70,446 29,325 92,293 25,297 105,511 9,170 25,720 92,293 188,459 3,605 Estsbllshment Total Expendlture 206,580 9,170 215,750 3,605 192,064 Net Income I (Expendlture) for the year 193,2001 (93,2(X)} 165,890) (65,8) other recognlsed gainsl(105ses) Actuarial gain110$) on éefined benefit penslcffis schem 14 18,162 18,162 1,017 1,017 Net Movement In Funds {75,038) 175,038) 164,673) 164,873) Reconciliation of Funds: Total Funds bht forward Total Funds carrled forward 4,3D7,Q64 4,307,064 4,371,937 4,371,937 4,232,026 4,232,026 4,307,064 4,307,064
ELTHAM PARK BAPTIST CHURCH BALANCE SHEET 31 DECEMBER 2022 Notes 2022 2021 Fixed Assets TatKJlble Nxed Assets 4,D41,327 4,041,327 4,087,345 4,087,345 Current Assets Debtors io 23,894 20,57B 227,868 Bank and Cash 191,223 215,117 248,446 Current Liabilitie5 Creditors.. arwunts ftlling due vllthin one year IL (24,418) 18,327) Net Current Assets Total assets less current 19),699 240,119 4,232,026 4,327,464 Net Assets excludin9 pension Iloblllty Defined benefit penslon scheme Lrdbll 4,232,026 4,327,464 14 PO,4001 4,307.064 Total net aets or liabilitie5 4,231026 Charity Funds Re¢rkted 12 Unrests*cted 4,232,026 4,307,064 Totsl Charfty Funds 4,232,026 4,307,064 The not& on pages 3-11 form an integral partofthese accounts. These accounts were approved by theTrustees and slgned on their behalf by Treèsurer ekcrteL PQ IQDLF
ELTHAM PARK BAPTlSf CHURCH NOTES TO THE ACCOUNTS YEAR ENDED 31 DECEMBER 2022 I ACCOUNTING POLICIES a Basis of preparattOII The accounts are prepared in accordan with the Charibes Statement of Recommended P¥Kce (Charities SORP 2015), FRS102 ar wlth the Charities Att 2011. Eltham Park Baptist Church m*ts the deflnltion of a public benefit enuty under FRS102. Assets and liabilities are initially recognlzed at historical cost or Iransaclion value unless otherwise stated in the relevant accountirwJ policy notes. b Income recogrjition All Incoming resourw are included in the Statement of Financlal ACtItIeS when the charlty Is legally enoded to the income after any perfomance conditi(Fns have been met, the amount can be measured reliably and It Is probable that the income WTII be received. c Donations Donatlons are accounted for gross when received. Hxed asset gifts In knnd are recognlzed when r&vable and are Included at falr value, d Legacles Legaaes are accounted for at the earller of the Estate accounts being finalised and notified and the legacy being reived. e Investment Income Investment income ¢5 Included in the accounts in the year In which Is Ye1vabLe. f Expenditure recognition l expendiiure is accounted for on an accwals basis. Expenditure 15 recognized where there is a legal or constructive obligation to make payments to third parties, it 15 probable that sddement will be required and the amount of the obligation can be measured reliabty- g Costs of ralsing funds The Church does not make formal appeals for funds, and expenditure on these Items is tIErefore not materfal. h Grants payable The Church makes grants to other organisations whose charitsble objects complement its work. Tlw are accounted for when the recipient hhs been notified of the grant and pèyment15 unconditional. i Support costs Support costs are those that a15t the work of the churth but do not directly represent charitable aLtivities and include Offi costs and govemance cost. Where support Costs cannot be directly attributed lo particular headings they have been allocated to the cost of ralsing funds and expenditure oll charitable activltles on a ba55s consistent with the use of resources. This represents dIrt experlture on the governan of the church. Most of the management Is carrled out without charge by volunteers. This intangible cost 15 riot included in the Ststsment of Flnandal Attlvltles Sin there Is no me35urable cost tr) the volunteers for their sery1. io
j Fixed Assets Tangible fixed a55ets ale capitalised if they can be used for more than one year and cost at kast £1,000. They are initialty recognised at cost or, for donated assets, at a reasonable estimate of thelr value on reipt. There is no reliable information available for the cost of the church premlses and so on first tlme adoption of FR5102, the Insurano value used pvIouslY was adopted as deemed cost. k Depreclatio Depreciation Is provided on all fixed assets, other than freehold land, to write off the cost on a straight-line basis over thdr experted useful life, at the following rates.. Freehold land Bulldlngs Furniture and fittings io% Computers and equlpment 33% I Investment Assets Investments are initially stated at cost. Subsequently they are measured at fair value wlth changes rewgnlzed in the Statement of Financial Activities If the shares are publicly traded or their fair value can otheIse be measuwj rellably. All other investment assets are shown at cost less Impalrment. m Funds Unrestricted funds are available for u at the discretion of the trustees In furtherance of the general objectives of the charity and which have not been deslgnated for other purposes. Designated funds compiise unre51ritted fvnds that have been set aside by the trustees for speclfic purposes. The aim and use of each deslgnated fund is set out In the rbotes to the financlal sLatements. Restrltted furKls are fuThJs whlch are to be In accordance with speciflc restrKbons imposed by donors or which have been ralsed by the charity for specific purpose5. The cost of raising and administering such funds are charged against the spedflc fund. The alm and use of each restrfcied ftjnd Is set out in the mtes to the financial statements. Endowment funds represent those assets whlch must be held perManenY by the charity. Income arislng on the endowment funds can be used In accordan with the objects of the charity ènd is included as unrestricted Income. Ally capltal gains or loss arising on the investments fomi part of the fund. Investment management tharge5 and legal advi latIng to the fund are chafged agalnst the fijnd. Employee benefits The charity operate5 a deffned contribution plan for rtain of ts employees. A defined contributlon plan 15 persion plan under which the charity pays fixed contributlons into a separate entity, Once the contributions have been paid the charity has no further payments obl[gaON$. The contribubons are recognised as an extEnse when they are due. Amounts not pald are shown In accruals in the balance sheet. The assets of the plan are held separately frorn the charlty In an Independently administered fund. Prior to 2012 pension provision was made through multi-employer defined benefit pension plan5. Where it Is not tx)ssible for the charfty to obtain suffiaent Information to enable it to acctsullt for a plan as a defined nefit plan, It accounts for the plan as a defined contribution plan. li
Where the plan is in deficit and where the charity has agreed, wlth the plan, to participaie in a deflclt funding arrangement, the charity recognlses a liability for thSs obligation. The amount reco9nised Is the net present value of the contributions payable under the agreetnent that relate to the deficlt. This am(yJnt Is expensed in the Statanent of Financial ActivIts. The unwlnding of the dlscount Is recogni5ed as a finan cost. Donations and Legacies UnYÉstricted Re5trfrted 2022 2021 Donation$ and Legacie5 Offerings 67,257 7,978 75,235 74,630 Tax rÈfiJnds 13,970 1,192 15,162 14,772 other donatKJns 656 656 375 Legacie ID,OLKI Total 81,883 9,170 91,053 99,777 2021 £3 605of the donabons andlegacle5 Income wasaltnbutsble to r8sirKtedfvnds with Éhe remaining £96,172 belng attnbutable to unrestricted funds. Investment Income Unrestricted R¢5trlcted 2022 2021 Investment Income Enterest recVed 115 77 Total 115 115 In 2021 alllnvestmentincome was attnbulable to unr2¢Tnd$. other tradlng )ctivlUes Unrestrfcted RestriLted 2022 2021 Income from other tr3ding activlties PMIseS and rninibus hlre fees 27,553 27,553 26,320 Lunch club 3,829 3,829 Totsl 31,382 31.382 26,320 In 2021 alllncon7e from othertd1g athwties was attr/butable to unrestHctedfvnd& 12
Ministry Unrestrl¢ted Re5trrcted 2022 2021 Mln15W5 $pend, renslon and Nl Mlnister In Tralnlng'5 stipend, pEn51on and NL 35,987 35,987 34,403 26,711 26,711 25.700 Wisit5ng speakers Conferences and trninlng Church minlbus 267 267 40 1,676 1,676 1,213 Other minlsty costs 2,206 2,206 2,089 offi staffing Subxrfptlons 3,540 3,S40 2,510 1,375 1,487 1,487 999 Prtnting¢ Postage armj statlonery 999 1,245 Independent examlnation PeTr5ion scheme finance cost 2,360 2,360 1,582 382 382 other administrative cost 157 157 115 Total 75,772 75,772 70,446 Mlsslon Unrestricted Restricted 2022 28,598 2021 Grants PByable 19,428 9,170 25,841 2,757 Chlldren and youth work Cateting Costs 1970 2,970 2,683 216 2,683 378 Outreach 216 349 Total 25,297 9.170 34,467 29,325 Unrestrlcted Restrlcted 20Z2 2021 Grants payable BUGB Home Mi85ion 6,QOO 6,OtKI 10,280 11,6 628 6,OLK) S,2j 13,625 936 BMS Workl MISon s,0 7,800 5,280 3,89) other rn15slonarles Other charfiable organlsatiot Total 628 19,428 9,170 28,598 25,841 13
Establishment Unrestricted 6,337 Restrlrted 2022 2021 Manse expeSe5 aeaners 6,337 5,743 9,548 1,538 4,072 9,TlO 1,786 9,448 9,448 aeaning materlals Lnsurance 1,795 4,354 1,795 4,354 16,715 3,560 192 Light arnl heat Rates and waste 16,715 Sundr 192 209 Telephone and lThtert Repairs and malntenan Small equlptnent Depreclatknn 390 390 786 16,294 16,294 11,077 784 46,018 105,511 46,OL8 46,980 Total 105,511 92,293 staff costs and Trustees expenses 2022 2021 staff costs and Tr45Stees expense$ Salarles Gross salary Employers natknal Irksuran Employerfs rnon contrItkInS Counal tax, water rates etc 68,109 65,445 Sctlal secwity C(k8ts 1,043 6,194 2,929 PFnsloll costs 6,OJO 2,792 (er costs Total 78,275 74,247 The average number of employees during the year wa5 No em 0Yee rfved emoluments In excess of £60,000 during the year. The Minlster acts as one of the church's trustees in accordan with the Trust Deed and refved remuneratlon of £31,556 and other benefits in respect of her seNices as Minister, including the prowslon of manse accommodation owned by the church. The Minister-in-trainirKJ acts as e of the thurch's trustees in a¢¢ordance with the Trust Deed and recelv remuneration of £23,905 In respecL of her Serv1 as Minlster-ln-training. £Nil in total was relmbursed tr) the Trustees in respert of expenses incurred as Trustees {2021.' £NII). The Church pays pension contrlbutions for its MinisiEr and Minister-in-trainlng b) the Defined ContTrbubon Plan withln the Baptist Pension Scheme, which is admlnlstered by the Pension Trustee, Bapt15t Penslon Trust Llmlted. Further details of the scheme a set out Iri Note 14 below. 14
9 Tanglble Fixed Assets Churth Premlses Mxt¢tres, ttings & Equipment Mansa Motor vehlcles Totsl Tangible Nxed Assets Cost L January 2022 AddIti(S DispDsal 3,903,693 391,257 2,500 49,722 4,347,172 31 December 2022 3,903,693 391,257 1500 49,722 4,347,172 DeprecTatJon L January 2022 Charge for the year On disptssals 195,185 39,037 19,565 3,913 1286 42,791 3,014 259,827 46,018 31 December 2022 234,222 23,478 2,340 45,805 305,845 Net book value l January 2022 3,708,508 3,669,471 371,692 367,779 214 6,931 4,087,345 4,041,327 31 Dember 2022 16C> 3,917 All of the fixed ats are used for dlrett tharltable purposes, 10 Debtors 2022 2021 Accrued Income 2,208 21,686 600 epayment an(f other debtors 19,978 20,578 23,894 11 Creditors: amounts falling due withln one year 2022 2021 Trade crEdlto 576 1,197 AcCLS 23,842 7,130 24,418 B,327 15
12 Restrlcted Funds Currènt period l January Incomln9 Resources 2022 Resources expended Galn$ and Transfers losses 31 December 2022 Unrestrlcted Funds GeneralFund 4,143,326 113,380 173,936 18,162 4,100,932 DegnatedFunds AddltKJnal worfrer 112,743 26,712 5,932 86,031 45,r63 Propety 50,995 RestrÉcted Funds SMS World Ml%lon 5,280 3,890 5,280 3,890 Romanla other organtsauons Total 4,307,064 122,550 215,7SO 18,162 4,232,026 Prèvlous perlod l January Incoming Re50urtes 2021 Resource5 expended Gains and Transfer5 31 December 2021 UnreStcted Funds GeneralFund 4,176,171 122,569 156,43L 1.017 4,143,326 DeslgnatedFunds Adjtiional worker 138,443 57,323 25,700 6,328 112,743 50,995 Propety Restricted Funds Tear Fund 3,325 280 3,325 280 Other organisatlon5 Total 4,371,937 126,174 192,064 1,017 4,307,064 L)uring 2020 the church members decided to designate two thirds of the money weived through a legacy In 2018 to fund an addltlonal church worker LD SUPPQrt the Minister, and the remaining one thlrd to fund work requlred on the church property. During 2022, the fund for an additional worker wa5 used to pay the costs of our Ninister-in-Traln1J. ThÈ property fund was ud to pay for repalrs to roots on the church site. During 2022, the church reoived nK>ney in support of a projett run by BMS World Mission and mlsslonarles working In Romania. On OCS1On5, the church elVeS money in support of other organisations. Any such amounts are accounted for withln restrlcted funds. The funds are shown in aggregate above due to the immaterial amounts Involved. 16
13 Analysis of net assets Current perlod General funds Restricted funds Total unds 202 Tangible fixed assets Current assets Current liabilitles Pen%on liabllitie5 4,041,327 208,087 (17,388) 4,041,327 215.117 124,418) 7,030 (7,030) Net assets at 31 Dernber 2022 4 232 026 4 232 026 PrevloLLS period General Restrlcted Total 02 Tangible fixed assets Current assets Current1Sabllltles Pension liabilltles 4,087,345 246,745 (6,626) (20,400) 4,087,345 248,446 (8,327} (20,400} 1,701 (1,701) Net assets at 31 Demlr 2021 4,307 064 4 307 064 14 Pensions The Church Is an partlcipating employer In a perTrsion scheme known as the Bapt15t Pension Scheme Vthe Scheme.?, whlch Is a separate legal entity administered by the Pension Trustee (Baptlst Pension Trust Ltmltedl. The assets of the Stheme are held separately from those of the Employer and the other parucipating employers. The Scheme. prevlously known as the Baplisl Ministers, Penslon Fund, stsrted In 1925, but was close¢J to future accrual of defined benefits on 31 December 2011. Prior to thls date the maSn benefit provided through the Defined Benefit IDB) Plan was a pEnsion of one eighbeth of final mlnimum pensionable income for each year of pensionable service together wlth addltional penslon In Pect of premiums pakl on Pensionable Income In eXs$ of Minlmum Pensionable Income. From January 2012J penslon provlslon Is being made through the Defined Contribution (t)C) withln the Scheme. In general, mernbe pay 8% of thelr PensiDnable Income and employer5 pay 6% of member Pensionable Income Into individua1 pension accounts, which are operated and managed on behalf of the Penslon Trustee by Broadstone Corporate Benefits Ltd. In addition, the employer pays a further 40h of Pensionable Income to cover Death in Serv1 Benefits, admlnlstration costs, and an aOCIated insuran policy which provides income protection for Scheme Mernbe If they are unable to work due tr) long-temi incapacity. This income protectton poliry has been Insured by the Bapdst Unlon of Great Britsln with Avlva Llmited. 17
The Scheme is considered to be a multl*mployer scheme as descrlbed In section 28 of FRS L02. Because It is not PC>sslble to attribute the Scheme's asse(5 and liabilltle5 to specific employers, the scheme is accounted for as if the Scheme were a defined CDntMbutlon scheme. The Mlnister and the Minister-in-Training are digible toJoin the SChe. Actuarlal valuation as at 31 December 2019 A formal valuatlon of the Defined Benefit {DB) Plan as at 31 Dernber 2019 was carried out by professionally qualified Attuary usiThJ the Prolerted Unit Method. At the valuatr.on date the market walue of the DB Plan assets was £298 million, whilst the level of assets needed to pay benefits was £316mi giving a deficit of £18tn (equivalent to a past serwce funding level of 94Wo). The Church and the other participating etnpbyers in the DB Plan are collectively responsible for funding this deficit. The key assumptK)ns underfying the Valtion were as follows: Type of ossumption kPI price InfiaOn assumptlo CPI prlce inflation assumption Minlmum Pensionable Irwme inueases sumed Investment returns Pre-reurement Post reknreMt Deferred penslon Increases P-April 2009 Post-Aprll 2009 Per1 Increas Maln scheme penslon /0 p.a. 3.20 2.70 3.20 195 1.70 3.20 2.50 2.70 Mortallty was assumed In accordance wlth 800/0 of the S3NA standard mortalbty table. Future Improvements projected from 2013 In Ilne with the"CM12019" projection wlth a long-term rate of Improvement of 1.75¥0 p.a. for males and 1.5% p.a. for females wlth the core 5nothIng parameter and with addidonal inltial mortality improvement factr)r A=0.5%. The next actuarial valuation of the DB Plan wlthin the 5theme was due to take pla not later than as at 31 Dernber 2022. However, the DB Plan is tc> be wound up, and the pr$$ to wind It UP Was stsrted with effect from 31 March 2024 and therefore no formal valuats'on is due tr) take pla. Recovery Plan In addition to the cor)tributions to the DC Pll set out above, where a valuation of the DB Plan reveals deficit the Trustee and the Council agree to a rate of defioency contributions from churches and other employers involved in the DB Plan. Following the 2019 valuation a Recovery Plan was slgned In September 2020 under which deficiency contributions were payable until June 2026. On 30th June 2022 the Baptist Pension Scheme signed an agreement wth the Insuran CoMnY Just Group C'just,? to secure DB P5an membeT5' pension benefits. Just are nDW providing financial backing for all pensions provided through the Scheme's DB Plan and, following this tran5acbon, the Scheme no longer has shortfall, An updated Recovery plan wa5 then signed in Au9usi 2022 under whlch recovery contributions fro¥n each participating employer In the DB Plan reduced to £1 per month from Augusl 2022. These contributSons a payable under the coVery plan until June 2026. The outstandlng defiaency contributions due vnder the Recovery Plan are not consdered materlal and therefore have not been included in the balance sheet. 18
Movement In Balance Sheet Ilability Section 28.IIA of FRS 102 requlres agreed deficit recovery payments to be recognised as a Ilabllity. The movement In the provlslon is set Ixjt in the table below. 2022 2021 BalaTEce sheet Ibblllty at year stsrt Minu5 deficlency contrlbutions paid Interest co {recognlsed In SOFA) Remalnlng change to balance sheet liHblllV [rniSed in SOFA) Balance sheet lbIl at year end 20,4£ (2,6201 382 25,742 14,419) 94 (18,162) 11,017) 20,400 * Comprises any change In ogreed deficit recovery pL3n and change in assumptions between yearnd5, 15 Rttlated Charflles The custodian TTUStee of the church is the BapSt Union Corpc¥ration Limlted which is charity number 249635, nd which is controlled by the Baptist UnFon Counol. The church 15 also a member of the Baptisl Unk)n of Great Briiain, and the London Baptlst Association. The church made a donatlon to the Baptlst Unlon Home Mission Scheme as set out in note 6. 19
Independent Ex3mlner's Report to the Trustees of The Eltham Park Baptlst Church I report to the trustees on my examination of the financial statements of The Elth3m Park Baptist Church Cthe charity? for the year ended 31 Drnber 2022 whith comprise the Statement of Financial Athvities, the Balan Sheet and related note5. This repK)rt is made solely to the charity's tnjstees, as a body, in accordance wlth sertion 145 of the Charitie5 Att 2011. My work has been undertaken so that I might stste to the charity's trustees those matters T am required to State to them In thls report and for no other purpose. To the fullest extent permitted by law, I do not accept or aume resp)nsibility to anyone other than the charity and the charitys tW5tees as a bodyi for my worL for this report, or for the opinlons I have fomied. Responsibilitles and basls of report AS the trustees of the charfty you are Tesponslble for the preparation of the financlal statsments in accordarte with the requirements of the CharSties Art 2011 {'the ALt?. I report in pect of my examination of the chariiys financial statements carrled out under sectlon 145 of the Art and In Carng out my examinètitsn I have folbwed all the applicable Directions given by the CForfty Commlsslon uNler *ttion 14515)(b) of the ACL An indepeThJent examlnation does not Involve gathering all the eviden that would be required in an audit and consequently does not cover all the matters that an auditor considers in giving their opinlon on the financial statements. The planning and conduct of an audit goes beyond the limited a55uronce that an independent examination can provide, Consequently l express no opinion as tr) whether the finanaal statsments present 'true and fairf view and my report Is limited to those speafic matters set out in the independent examlnerfs ststement. Independent examiner's statement L have completed my examination. I tonflrm that no material maiters have come to my attention in connection with the examinatlon glving me cause to believe that in any material respect- accountlng records were not kept In respect of the charity as requlred by section 130 of or the financial statements dts not accord wth ttM)se records; or the financial statsments do not comply with the applicable requlrements conornlng the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any reqU1ment that the accourts give a'tnje and fair vlew whtch Is not a matter consIded as part of an Sndependenl examlnatlon. I have no concerns and have come across no other tter5 in connecbon with the examination to which attention should be drawn in thi5 report in order to enable a proper understanding of the finala1 statements to be reathed. rimothy Sulllvan FCA Field Sullivan Limlted Chartered Accountants 9 Hare and Billet Road London SE3 OR8 Date: Fleld Sullivan Llmlted Reg¢stered In England no. 8024052 20