## Woodstock Road Baptist Church CIO
Report and Accounts Year ended 31 December 2022
1 Lamb's Passage, London EC1Y 8AB www.stewardship.org.uk
## **WOODSTOCK ROAD BAPTIST CHURCH CIO**
## **FOR THE YEAR ENDED 31 DECEMBER 2022**
## **LEGAL & ADMINISTRATIVE DETAILS**
**ADDRESS FOR CORRESPONDENCE** Woodstock Road Baptist Church 198 Woodstock Road Oxford OX2 7NQ **GOVERNING DOCUMENT** CIO Constitution dated 27 July 2021 **CHARITY REGISTRATION NUMBER** 1195315 **TRUSTEES** Andrew Robinson (Elder and Chair) Thomas Finerty (Elder) (appointed 15 June 2022) Benjamin Goldenberg (Elder) Voon Loh (Elder and Joint Treasurer) John Severn (Elder) David Trebilcock (Elder) (resigned 2 March 2023) James Wilkinson (Elder) Jenny Reid (Chair of Deacons and Joint Treasurer) David Birds (Deacon) Anna Coles (Deacon) Johnathan Davys (Deacon) Jonathan Rabbitt (Deacon) **BANKERS** Barclays Bank plc Leicester LE87 2BB **INDEPENDENT EXAMINER** Ajay Rajani FCIE Stewardship 1 Lamb's Passage LONDON EC1Y 8AB
## **INDEX**
Legal & Administrative Details Page 1 Trustees' Report Pages 2 - 4 Independent Examiner's Report Page 5 Receipts and Payments Account Page 6 Statement of Assets & Liabilities Page 7 Notes to the Accounts Page 8 - 9
Page 1
## **WOODSTOCK ROAD BAPTIST CHURCH CIO**
## **TRUSTEES’ REPORT**
## **FOR THE YEAR ENDED 31 DECEMBER 2022**
The Trustees present their report together with the financial statements of Woodstock Road Baptist Church (“the church”) for the year ended 31[st] December 2022.
## **Reference & administrative details**
The name and address of the church is
Woodstock Road Baptist Church 198 Woodstock Road Oxford OX2 7NQ
## **Structure, governance & management**
## Constitution
The church is a registered charity, registration number 1195315. It is a charitable incorporated organisation (CIO) governed by a Constitution. Its aim is to build up Christians in their faith and to seek to bring others to know Jesus Christ as Lord and Saviour.
## Governance & Management
The church membership is the church’s decision-making body. The membership meets four times a year.
The spiritual leadership of the church is in the hands of Elders, who generally meet fortnightly during the year. Elders are appointed by a 75% majority of a quorate church meeting and are elected for life or until resignation.
The Diaconate is responsible for the financial and practical aspects of church organisation. They meet most months during the year. Deacons are elected at the AGM by a simple majority and serve for three years or until resignation.
The Trustees comprise the members of the Elders and Deacons. The Trustees meet a minimum of four times a year.
## **Financial review**
## _Income and giving_
We are thankful to God that He has provided all we have needed financially for 2022 with an increase in total receipts and a decrease in total expenditure from 2021. We have seen income from hiring out our buildings to outside groups almost doubled from 2021 and we received the first half of a £150,000 legacy from a former member of the church. Overall, income increased by £18,959 to £241,567 and expenditure decreased by £16,514 to £221,282. As a result the cash held by the charity increased by £20,285 to £122,988.
- Unrestricted funds
This year’s unrestricted income was £215,054 (2021: £127,969). After spending £151,988 (2021: £155,318) and, after making a transfer of £23 to restricted funds, the cash held in unrestricted funds increased by £63,044 to £117,912;.
Unrestricted income benefited from the receipt of the first half of the legacy referred to above (which amounted to £75,000). There are some small variations within unrestricted expenditure but nothing noteworthy.
We were pleased to be able to continue supporting several missionary workers both in the UK and in other parts of the world. Overall giving from unrestricted funds amounted to £36,741 (2021: £37,794).
Page 2
- _Restricted Funds:_
- This year restricted income was £26,514. After spending £69,295, the cash held in restricted funds now totals £5,076.
Restricted expenditure included a transfer £21,858 to Grace Church Kidlington (which was the balance on the GCK restricted fund at 31 December 2021 plus some further small donations received in 2022).
In April last year we had the joy of being able to pass on £28,770 that was collected as our 2021 Christmas gift for apologetic missionary work in Spain by former missionaries supported by us and to mission work amongst students in Austria by a former church member. In addition to this the church paid out other grants totalling £18,065 from restricted funds to support mostly mission work.
- _Gift Aid:_ The church continues to benefit, as a charity, from being able to claim gift aid; this amounted to £26,358 in total in 2022 which is a decrease of just under £7,000 from 2021. There was nothing claimed under the GASDS scheme on anonymous cash gifts as we did not collect any cash gifts during the year.
## _Reserves policy_
As mentioned below a new pastor will be joining us in 2023 and, before he arrives, we hope to buy a house where he can live. Since the year end we have raised a significant amount for the property purchase and we are confident that, with the help of a mortgage, we can comfortably afford to purchase a property without placing any undue strain on the charity’s finances.
In preparation for the taking out of a mortgage, we are aligning our reserves policy with that of the mortgage covenant so that we always hold at least the minimum amount required by the covenant. That covenant states that the charity must always hold reserves of at least 20% of committed annual expenditure in our unrestricted general fund (i.e. amounts held in designated and restricted funds are excluded). This calculation is done on an annual basis using the following year’s budgeted figures. So that we don’t breach this covenant if there are unexpected costs, we will be aiming to hold at least an extra £5,000 above the minimum required by the covenant. The initial level is set at £19,348 plus £5,000 – being £24,348. At the end of the year, in part due to the receipt of the large legacy mentioned above, we had a reserve of £103,870 (2021: £38,368).
## **Objective & Activities**
The constitution of the church defines our purposes in these terms:
(1) the advancement of the Christian faith in accordance with the Basis of Faith primarily but not exclusively within Oxford and the surrounding neighbourhood; and
(2) such other charitable purposes as shall, in the opinion of the members of the Church in general meeting further the work of the Church.
The trustees are committed to making the church open and welcoming to all those interested in exploring the Christian faith. Our aim is that our regular services on a Sunday will be accessible and understandable to all those who come. In addition we seek to provide other activities that will be of benefit to the local neighbourhood and provide opportunity for individuals to explore the Christian faith. In carrying out its activities in the year under review, the trustees have had regard to the public benefit guidance issued by the Charity Commission, and are satisfied that the activities mentioned in this report have all been for the public benefit.
## **Achievements and Performance**
2022 was marked by being the first full year with no significant ongoing restrictions due to the pandemic. As such, we have settled back into a pattern both of Sunday services, and of regular weekly activities. Postpandemic, we have seen notable growth within the church family, both in number and in maturity of its members. It was a joy to baptise 3 people in the year. The church continues to attract a wide variety of nationalities, ages and backgrounds. There continues to be engagement with the local community via a weekly coffee shop and group for parents and toddlers. These seek to meet the physical, spiritual and emotional needs of those in the area. Our children’s and youth activities continue to run and be a great blessing to those involved.
Page 3
2022 was also the first year where _Grace Church Kidlington_ was fully independent. This meant that Phil Butcher, the pastor of GCK, left the employment of the church at the end of 2021. Phil and the team there continue to be an encouragement to us and we pray for them regularly.
Just prior to the completion of last year’s report, both David Trebilcock and Andy Robinson announced that they would be standing down as pastors from the summer of 2022. This took place as planned with Andy stepping down in July, and David in September. Both continued as lay elders and trustees for the rest of the calendar year. As at the time of this report, David has just stepped down from this role.
This meant that 2022 also involved the church looking to recruit a new pastor. A thorough process was conducted and at the end of it, David Shaw was proposed to the church as a potential new pastor. In early 2023, David came to visit, preached, and was called by the church to serve here as pastor and trustee. He will commence that role later in 2023.
Each year the church takes a verse from the Bible to provide some focus for all our activities. This year we have been reflecting on what it means for us to be like Jesus as we await His return. As we continue with our services of worship, our midweek events for a variety of ages and seek to serve the local community, our longing is that these things would be done in a Christ-like, God-honouring, Spirit-enabled manner.
## **Responsibilities of trustees**
Charity law requires us as Trustees to prepare financial statements for each accounting year which record the receipts and payments of the charity for the year.
We are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and enable us to ensure that the financial statements comply with the Charities Act 2011.
We also have a responsibility to safeguard the assets of the charity and to take reasonable steps to prevent fraud or any other irregularities.
## **Approval**
This report was approved by the trustees and signed on their behalf by:
## Andrew Robinson
Andrew Robinson Chair
Date: 22 May 2023
Page 4
## **INDEPENDENT EXAMINER'S REPORT**
## **TO THE TRUSTEES OF**
## **WOODSTOCK ROAD BAPTIST CHURCH CIO**
I report to the trustees on my examination of the accounts of Woodstock Road Baptist Church CIO ('the charity') for the year ended 31 December 2022 on pages 6 to 9 following.
## **Responsibilities and basis of report**
As the trustees of the charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the 2011 Act’).
I report in respect of my examination of the charity’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
## **Independent examiner’s statement**
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: 1. accounting records were not kept in accordance with section 130 of the 2011 Act; or
2. the accounts do not accord with the accounting records.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in order to enable a proper understanding of the accounts to be reached.
## Ajay Rajani
Ajay Rajani FCIE Stewardship 1 Lamb's Passage LONDON EC1Y 8AB
Date: 26 May 2023
Page 5
## **WOODSTOCK ROAD BAPTIST CHURCH CIO**
## **RECEIPTS AND PAYMENTS ACCOUNT**
## **FOR THE YEAR ENDED 31 DECEMBER 2022**
|Notes
**Receipts**
Donations and legacies
Gift aid receipts
Church retreat
Hire of facilities and other income
Interest received
**Total Receipts**
**Payments**
2
3
**Total Payments**
Transfers between funds
**Net Movement in Funds**
Cash funds as at last year end
**Cash funds at this year end**
A
Net of receipts / (payments) before
transfers
Payments
in
relation
to
charitable
activities undertaken directly
Grants paid in relation to charitable
activities undertaken by others
Payment
made
to
Grace
Church
Kidlington CIO on them becoming an
independent church from gifts given
and held in the GCK restricted fund|Unrestricted
Funds
£
188,500
19,210
2,963
3,823
558
215,054
115,246
36,741
-
151,988
63,066
(23)
63,044
54,868
117,912|Restricted
Funds
£
19,365
7,148
-
-
-
26,514
602
46,835
21,858
69,295
(42,781)
23
(42,759)
47,835
5,076|2022
£
207,865
26,358
2,963
3,823
558
241,567
115,848
83,576
21,858
221,282
20,285
-
20,285
102,703
122,988|2021
£
184,415
33,341
2,809
2,033
12|
|---|---|---|---|---|
|||||222,608
|
|||||157,074
56,073
24,649|
|||||237,796
|
|||||(15,188)
-|
|||||(15,188)
117,891
|
|||||102,703|
The notes on pages 8 and 9 form part of these accounts.
Page 6
## **WOODSTOCK ROAD BAPTIST CHURCH CIO**
## **STATEMENT OF ASSETS & LIABILITIES**
## **FOR THE YEAR ENDED 31 DECEMBER 2022**
|**A**
**Cash funds**
Cash at bank with immediate access
**B**
**Other monetary assets**
Gift aid due to charity
Deposit paid for next year's church retreat
Prepaid insurance
**C**
**Liabilities**
Grants payable:
From 2020 Christmas appeal
From 2021 Christmas appeal
From 2022 Christmas appeal
To Grace Church Kidlington
Money received for next year's church retreat
Fee for preparing and examining the accounts
Accrued expenses
In respect of payroll for December:
Social security and other taxes
Pension contributions
**D**
**Assets retained for charity's own use**
Land and buildings
Fixtures, fittings & equipment|Unrestricted
funds
£
117,912
6,589
1,578
1,651
9,818
-
-
-
-
-
1,234
1,650
1,755
536
230
5,405|Restricted
funds
£
5,076
633
-
-
633
-
1,851
2,798
-
4,650
-
-
-
-
-
4,650|2022
£
122,988
7,222
1,578
1,651
10,451
-
1,851
2,798
-
4,650
1,234
1,650
1,755
536
230
10,054
Fund to
which asset
belongs
Endowment
Unrestricted|2021
£|
|---|---|---|---|---|
|||||102,703|
|||||12,145
1,255
1,530|
|||||14,930|
|||||1,623
21,700
-
21,258|
|||||44,580
2,809
1,800
484
1,840
763|
|||||52,276|
|||||Current
value
£|
|||||2,986,431
10,702|
|||||2,997,133|
Land and buildings comprises a church building and a manse. These have been stated at their insurance value as the trustees are unable to reliably estimate their current value; this insurance value may differ materially from current value.
To estimate the current value of fixtures, fittings and equipment the trustees have discounted the original cost of these assets using an appropriate method.
## **E Guarantees and secured debts**
The charity has not given any guarantees and has not provided its assets as security for any liabilities.
The accounts were approved by the trustees and signed on their behalf by:
## Andrew Robinson
……………………………………………….. Andrew Robinson Date: 22 May 2023
The notes on pages 8 and 9 form part of these accounts.
Page 7
## **WOODSTOCK ROAD BAPTIST CHURCH CIO**
## **NOTES TO THE ACCOUNTS**
## **FOR THE YEAR ENDED 31 DECEMBER 2022**
## **1 Accounting Policies**
## _Basis of preparation_
The accounts have been prepared on a receipts and payments basis and comprise a statement that shows the charity's receipts and payments, a statement that summarises the charity's assets and liabilities and related notes. The accountancy profession have determined that only accounts prepared in accordance with applicable accounting standards present a 'true and fair' view and, as these receipts and payments accounts have not (and cannot) be prepared in accordance with accounting standards, these accounts do not present (and are not intended to present) a 'true and fair' view of the charity's financial activities and state of affairs.
## _Funds_
General funds are unrestricted funds which are available for use at the discretion of the trustees in furtherance of the general objectives of the charity. Designated funds comprise unrestricted funds that have been set aside by the trustees for particular purposes. Restricted funds are donations which are to be used in accordance with specific restrictions imposed by donors; they include donations received from appeals for specific activities or projects.
## _Change of legal structure on 31 December 2021_
Prior to 31 December 2021, the CIO's activities were undertaken by a Trust with the same name (Woodstock Road Baptist Church with charity registration number 1136284). On 31 December 2021 the Trust transferred its net assets and its activities to the CIO. The Charity Commission's guidance on the preparation of Receipts and Payments accounts does not explain how a charity should go about preparing its accounts in these circumstances however there is guidance in accounting standards and these accounts have been prepared in accordance with the principles in that guidance. Accounting standards permit the CIO to account for the transfer as a merger because it qualifies as a charity reconstruction (whereby the charity has simply changed its legal form). In accordance with merger accounting, the previous year's accounts combined results of the Trust and the CIO for the year ended 31 December 2021 and these form the comparatives presented in these accounts.
## **2 Payments in relation to charitable activities undertaken directly**
|Employment costs
Pastoral ministries
Property costs (Note 2a)
Capital expenditure
Local ministries
Retreats and camps
Administration
Accounts preparation & independent examination
Professional fees|Unrestricted
Funds
£
71,042
1,220
23,839
-
3,079
8,212
3,819
1,920
2,115
115,246|Restricted
Funds
£
-
-
-
-
-
602
-
-
-
602|Total
2022
£
71,042
1,220
23,839
-
3,079
8,814
3,819
1,920
2,115
115,848|Total
2021
£
109,551
5,183
27,058
3,527
2,322
807
3,260
1,350
4,016
|
|---|---|---|---|---|
|||||157,074|
The employment costs referred to above are in respect of 2 (2021: 3) full time equivalent employed staff. Most of the charity's activities are carried out by volunteers.
## **2a Property costs**
|Repairs & Maintenance
Cleaning, Wages & Materials
Council tax & water rates
Heating & lighting
Insurance
Rent
**Grants paid**
_Grants to support home and overseas mission_
Wycliffe Bible Translators
OMF
Fundación Pontea
Campus Crusade for Christ in Austria
United for Mission
Grants given to individuals directly
_Grants to support other churches and Christian ministries_
Fellowship of Independent Evangelical Churches
Oxford Schools Chaplaincy
South Central Gospel Partnership
_Grants for the relief of poverty and hardship_
Grants given to individuals directly
Other small grants to institutions|Unrestricted
Funds
£
16,785
4,934
-
-
3,074
4,173
28,966
2,129
1,896
750
4,775
3,000
-
3,000
**36,741**|Restricted
Funds
£
3,268
-
14,385
14,385
-
11,425
43,463
-
-
-
-
3,372
-
3,372
**46,835**|2022
£
10,103
3,807
3,077
4,651
2,201
-
23,839
Total
2022
£
20,053
4,934
14,385
14,385
3,074
15,598
72,429
2,129
1,896
750
4,775
6,372
-
6,372
**83,576**|2021
£
9,150
3,187
3,112
6,429
4,280
900|
|---|---|---|---|---|
|||||27,058|
|||||Total
2021
£
19,353
4,934
-
-
4,492
17,135|
|||||45,914|
|||||2,179
1,896
750|
|||||4,825|
|||||5,334
-|
|||||5,334|
|||||**56,073**|
## **3 Grants paid**
Page 8
## **WOODSTOCK ROAD BAPTIST CHURCH CIO**
## **NOTES TO THE ACCOUNTS**
## **FOR THE YEAR ENDED 31 DECEMBER 2022**
## **4 Transactions with related parties**
The trustees listed below received the following employment benefits (namely gross pay and employer's pension contributions) for serving as church leaders, not for serving as trustees, as permitted by the charity's governing document:
|Andrew Robinson
David Trebilcock
Philip Butcher
Benjamin Goldenberg|2022
£
9,178
13,958
-
32,699
55,836|2021
£
20,949
28,761
33,647
11,283|
|---|---|---|
|||94,640|
In addition Andrew Robinson was provide with a manse, which is customary for ministers, to help him better perform his duties.
The trustees, or those closely connected to them, also benefited from the following payments:
a) to Wycliffe Bible Translators to support John and Lois Severn who serve with them; John Severn is a trustee of the charity.
b) to John and Kathleen Callow, who are retired missionaries and John Severn's parents-in-law.
Except for the reimbursement of expenses incurred as agent, or incurred whilst undertaking employment duties, no other payments were made to the trustees or those closely connected to them.
## **5 Funds**
|**Unrestricted Funds**
General Fund
Designated Pastor’s Accommodation Fund
**Restricted Funds**
_Restricted funds that support grant making_
Wycliffe Bible Translators: John & Lois
Wycliffe Bible Translators: Others
Barnabas
Relief Fund (Fellowship Fund)
_Other restricted funds_
Grace Church Kidlington (church planting)
Christmas Appeal
Church Retreat (to help others attend)
Stepping Stones (parent and baby group)
**Aggregate funds**|Balance
at 01.01.22
£
38,368
16,500
54,868
248
-
375
2,021
2,644
21,258
23,323
602
8
47,835
102,703|Receipts
£
215,054
-
215,054
2,600
420
11,050
1,534
15,604
600
10,075
235
-
26,514
241,567|Payments
£
(151,988)
-
(151,988)
(2,848)
(420)
(11,425)
(3,372)
(18,065)
(21,858)
(28,770)
(602)
-
(69,295)
(221,282)|Transfers
£
2,436
(2,458)
(23)
-
-
-
-
-
-
23
-
-
23
-|Balance
at 31.12.22
£
103,870
14,042|
|---|---|---|---|---|---|
||||||117,912|
||||||-
-
-
183|
||||||183
-
4,650
235
8|
||||||5,076|
||||||122,988|
## **6 Events since the year end**
During the year the charity received £75,000 in respect of the first half of a large legacy and a second distribution for £70,000 for most of the rest of the legacy has been received since the year end. Also since the year end the charity has launched an appeal to raise funds to purchase a property for a new incoming minister. In all the charity believes it will need about £280,000 for the initial deposit and related acquisition costs and, based on the income that has been pledged or received to date, the charity is confident that it will be able to raise the funds it needs to complete the purchase and have sufficient money left over to continue operating without difficulty.
Page 9