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2023-12-31-accounts

Saffron Walden Baptist Church

Registered Charity Number: 1199611

Trustees' Annual Report and Financial Statements For the period ended 31[st ] December 2023

Saffron Walden Baptist Church, High Street, Saffron Walden, Essex, CB11 3HD 01799 523031 www.sw-bc.org

Administrative Details Charity Name Saffron Walden Baptist Church Charity Registration Number 1199611 Registered Address Audley Road, Saffron Walden, Essex, CBII 3HD Property Trustees The Baptist Union Corporation Limited Baptist House, 129 Broadway, Didcot, Oxfordshire OX11 8RT Trustees Revd John Goddard (Minister) Mrs Glenys Goodwin (11/07/2022 – 05/06/2024) Mrs Rosemary Timms (11/07/2022 – 05/06/2025) Mrs Tracy Todman (Treasurer) (11/07/2022 - 05/06/2025) Mrs Angela Sabey (28/11/2022 – 05/06/2026) Mr Robert Wiseman (28/11/2022 – 05/06/2026) All of the above were re-appointed at the first AGM of the CIO on 5[th] June 2023 Financial Administrator Mrs Rosemary Timms (voluntary)

Bankers CAF Bank Ltd 25 Kings Hill Avenue, Kings Hill, West Malling, Kent, ME19 4JQ The Co-operative Bank plc P O Box 101, 1 Balloon Street, Mancheser M60 4EP

Independent Examiner Mr Geoff Mann Dee House, Highworth Avenue, Cambridge, CB4 2BQ

Charitable Objective

Saffron Walden Baptist Church is a Charitable Incorporated Organisation (CIO) and is governed by its Constitution adopted on 16[th] May 2022 and registered with the Charity Commission on 11th July 2022, which states that, "the principal purpose of the Church is the advancement of the Christian faith according to the principles of the Baptist denomination to include the advancement of education and other charitable purposes in such parts of the United Kingdom and the world” as the Church shall determine.

The Church occupied premises which are held by the Baptist Union Corporation Ltd on Trusts which are entirely compatible with the above object.

Following the completion of the transfer of the assets, liabilities and activities of the Unincorporated Church (charity Number 1145484 ) to Saffron Walden Baptist Church, (charity number 1199611)

  1. the Unincorporated Church was dissolved; and

  2. the charity trustees of the CIO applied to register the incorporation on the Register of Mergers on behalf of the Unincorporated Church and the CIO; and

  3. made arrangements for the Unincorporated Church to be removed from the Register of Charities.

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The Trustees present their Annual Report and Financial Statements for 2023

Structure, Governance and Management

Members of the Church are accepted, in accordance with the Constitution, which requires them to be baptised upon personal profession of faith in Jesus Christ, or by transfer from other Christian churches or by profession of faith in Christ after visitation by two church members approved by the Church Members' Meeting. Acceptance into membership shall be the decision of a Church Members' Meeting.

In accordance with the Constitution, the members appoint Trustees, who together with the Minister and the Church Secretary and Treasurer, who are also Trustees appointed by the Members, are collectively known as the Diaconate. They are responsible for the day to day running of the Church's work and witness, and the financial and legal aspects of the charity.

Church Members' Meetings are held regularly and normally take place at least six times every year and are an opportunity to consider and review matters associated with the life of the Church including:

All members are encouraged to take an appropriate part in the tasks involved in the furtherance of the charitable objective.

Relevant matters may be submitted to the Church meeting by the Trustees for guidance or may be raised by members in Church meeting for further consideration. Though the Constitution permits decisions to be made at Church meetings by appropriate majorities, the Church seeks to work by consensus wherever possible.

Objectives and Activities

In order to achieve the principal objective, which is set out above, the Church provides a variety of activities both to its membership and to the community generally. The aim is to show the love of Jesus Christ in both word and deed and to bring people into a closer relationship with Him as living Lord.

The Church engages in a range of activities either on its own or with others and these vary from time to time with activities being initiated, expanded or closed as appropriate.

Central to the work and witness of the Church is the provision of regular public services of Christian worship. Services take place on Sunday mornings at 10.30 am. There are also occasional activities at other times which are advertised in the Church Notices. The Church seeks to be a friendly and welcoming community and anybody is free to attend any of these services. The Church also runs a series of small groups for the growth of faith and discipleship in the homes of some members and a fellowship group at the church on Wednesday mornings. Other Church activities may include:

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Church organisations, groups, committees and individuals appointed to operate within the life of the church shall be accountable to the Diaconate and also through any specific direction of the Church Members' Meeting.

The Church operates systems to ensure that all people working with children, young people and vulnerable adults are appropriately trained (in line with Baptist Union guidance) and vetted with regard to the Disclosure and Barring Service (DBS).

The Trustees are aware of the Charity Commission guidance on public benefit and are satisfied that the activities outlined above clearly demonstrate that the charity is providing a benefit to the public.

The Church's activities on Sundays and throughout the week are intended to cater for people of all ages, providing structured and unstructured leaming opportunities and encouraging worship, spiritual growth, fellowship, prayer and praise.

Achievements and Performance

Review of the Year

Attendance at Sunday morning worship is usually 30-50 people meeting in the chapel and with a few also joining on-line. Sermons are recorded and made available on-line. As at 31[st ] December 2023, the number in Church Membership was 62. The Small Groups meet during the week and a Fellowship Group, led by the Minister, meets on Wednesday mornings in the church.

We are indebted to all the people who have faithfully taken responsibility for running and adapting the Church's activities during the year. Special thanks are due to our lettings manager; our premises are very busy and income from community use forms a significant part of the church’s funds. We especially give thanks to our minister who has guided, resourced and facilitated all aspects of Church life.

We were delighted to find a new cleaner at the beginning of the year and are very grateful to him for his service.

It has been our privilege and pleasure to hold a baptismal service this year and to have two infant dedication services. We were also delighted to host the Induction Service in the year of the newly appointed EBA Regional Minister Team Leader.

Main Church Activities

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Financial Review 2023

The accounts cover the period from incorporation of the CIO in July 2022 to 31 December 2023. The CIO was dormant and had no income or expenses, assets or liabilities until the transfer of activities and financial resources took place on 1 January 2023. There are, therefore, no comparative figures to the 2023 accounts for the CIO. However, to assist users of the accounts draw comparisons with last year’s results, the figures from the 2022 accounts for the unincorporated church have been shown in the accounts and the notes below as comparative figures.

The total income of the Church in 2023 was £114,598 (2022: £106,115) and expenditure was £149,424 (2022: £86,680) giving a deficit for the year of £34,826 (2022: surplus £19,435).

However, £44,236 of the expenditure in 2023 was on major building works, addressing areas highlighted in the quinquennial report and replacing our projection system. If we exclude these premises projects then we ended the year with an operational surplus of £9,409.

In addition, from our 2023 maintenance budget we funded work to the roof, gutters and downpipes, repaired some stained glass windows, did some plumbing repairs, some electrical work including the 5 year fixed wiring test, redecorated the Upper Hall and installed a new gas boiler in the manse. The Listed Places of Worship Grant Scheme gives grants covering the VAT on certain eligible repairs to listed buildings used primarily as a place of worship (including those chapels within the curtilage of listed buildings). Some of the work on the chapel was therefore eligible and we have received £1,013 from the scheme this year.

Funds raised from offerings from within the membership and congregation and the gift aid tax recovered thereon continue to be our primary source of income. Our income in 2023 was higher than we had anticipated, despite offerings being £4,458 lower than last year, because we have been blessed this year with:

We are very grateful to everyone who has continued to support us financially in 2023 even during a period that has been called a ‘cost of living crisis’. As a Baptist Church we receive no government funding and are totally dependent on offerings from our congregation as our primary source of income.

Our lettings manager has worked hard to stay in touch with those who regularly hire our premises, managing our lettings and invoicing the hirers. We are grateful to him and our minister who have continued to work with the hirers to ensure that we maintain good relationships with them. Revenue

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from lettings forms a significant part of the church’s income and enabled us to go ahead during the year with so much of the premises repairs that were needed.

We have continued to support a number of different Mission appeals during the year including:

We are very grateful that our BMS Birthday Scheme secretary continues to send birthday cards to those in the Scheme and in 2023 this raised £485.

We have also given £4,500 to BMS and £4,500 to Home Mission from our general fund budget.

Although a lot of our costs are fixed costs, energy prices stabilized during the year and began to come down so energy and utility costs in 2023 were slightly lower than last year.

Funds from the Baptist Union Corporation

During the year we received £25,273 in interest from the permanent Endowment of the Robert Cozens charity set up in 1729. A further amount of interest £5,271 accrued before the year end but was received in 2024 and is shown as a monetary asset in the accounts. The capital sum remains with, and is managed by, the BUC. As the only known beneficiary the church will continue to receive the entirety of the income from the endowment, for the benefit of the church, for the foreseeable future. The amount receivable will fluctuate each year in line with changes in interest rates.

In 2020 we received capital from the BUC from a Trust Fund that was closed down. It is shown as a designated fund in our accounts and is not a restricted fund. At the time we agreed that we would not use to the fund to subsidise routine operating costs but use it for specific projects. This year we have used some of it to purchase a new projection system for the chapel and to improve the front driveway and the outside area on the north side of the church.

We will continue to discuss what we might use the balance of these funds for but, at the moment, we have made no decisions or plans for 2024.

Restricted Funds

The 1[st ] SW Boys' Brigade: 2023 saw the leaders and boys meeting together on Tuesday evenings and enjoying activities in the church and local area. A number of leaders and members enjoyed a summer camp to the Isle of Wight. We are grateful to all those involved in the organising and running of events and activities. Their funds are shown in our accounts as follows:

1stJanuary 2023 Balance B/F 5,979
Receipts 9,200
Payments (9,680)
31stDecember 2023 Balance C/F 5,499

Pension Deficit:

The Pension and BUGB Trustees sent a joint communication at the end of July 2022 regarding the Buy In of pension benefits with Just. The last actuarial valuation of the closed DB Plan took place on 31 December 2022 and this showed that the scheme is no longer in deficit. Our liability has therefore

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been set to zero in the staternent of a55ets and liabilities in our accounts. At the present time our deficit payments continue at the rate of £1 a month. ReseNes Pollcy The Trustees have established a Reserves Policy to enable the church to function effectively and meet its obligations in the event of a decline in our income or a major COS1. Having considered the relevant risks of changes in income and expenditure. the Trustees have detemined that the appropriate level of reserves is in the range £15.(MJ) to £ 25.(XX¢. As at 31 December 2023. the church held total reserves of £87.319 of whlch £42,631 was withln the General Fund. There is a delegated spendlng authority polky to ensure there are approprlate controls and procedures in place. The Future We are entouraged by a number of new people who have started to worship with us regularly at our Sunday morning services and the trustees hope this trend will continue as we seek to find new ways to engage with our fellowship and tommunity- The church is in a stable financial position to further the advancement of the Christian faith whilst servin8 the community and other charitable purposes. Signed on behalf of the Trustees of Saffron Walden Baptist Church: oKcknEkn {c)Its1￿z4 Tracy Todman (Twstee and Treasurer)

SAFFRON WALDEN BAPTIST CHURCH (Reg charity No 1199611) Saffron Walden Baptist Church is a Charitable Incorporated Organisation (CIO) FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2023

The accounts for the CIO show a nil value until 1st January 2023 (the date of the transfer of assets from the fomer unincorporated charity No 1145484). These are therefore the first accounts of the CIO and there are no comparative figures. However, the figures for the prior year of the unincorporated church have been shown in these accounts for comparison.

GENERAL RECEIPTS & PAYMENTS ACCOUNT
GENERAL RECEIPTS & PAYMENTS ACCOUNT
Note
Receipts
Regular offerings
Donations & other income
2
Income tax recovered on gifts
Rents and contributions for use of premises
Raised for other causes
3
Interest from BUC
4
Payments
Ministry
5
Mission
6
Upkeep of church premises
7
Administration
8
(Loss)/Surplus for the year
Balance brought forward
Balance carried forward		 (No 1199611)
2023
43,635
3,802
9,150
29,773
2,965
25,273
114,598
£
41,433
16,691
86,777
4,523
149,424
£
(34,826)
122,145
87,319
£		 (No. 1145484)
2022
48,093
5,500
10,565
31,083
3,044
7,830
106,115
£
41,195
12,352
24,732
8,401
86,680
£
19,435
102,710
122,145
£		 `
Building
fund
18,851
(6,160)
-
-
12,691
£
UNRESTRICTED - FUNDS
Balance at 1 January 2023
Transfer between funds
Receipts
Payments
Balance at 31 December 2023		 Total
122,145
-
114,598
(149,424)
87,319		 General
fund
33,221
44,236
114,598
(149,424)
42,631
£		 Capital
from BUC
70,073
(38,076)
-
-
31,997
£

RESTRICTED FUNDS RECEIPTS AND PAYMENTS ACCOUNT

Boys Brigade
Boys Brigade		 Balance
1 Jan 23
5,979
5,979
£
Balance
1 Jan 22
5,499
5,499
£		 Receipts
2023
9,200
9,200
£
Receipts
2022
12,612
12,612
£		 Payments
2023
9,680
9,680
£
Payments
2022
12,132
12,132
£		 Balance
31 Dec 23
5,499
5,499
£
Balance
31 Dec 22
5,979
5,979
£

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SAFFRON WALDEN BAPTIST CHURCH (Reg eharity No 11996111 FINANCIAL STATEMENTS FOR TfrIE PERIOD EP4DED 31 DECEMBER 2023 REPRESENTING &ALANCES ON THE FOLLOVANG X¢OUNTS UN8ri¢ted fuThJs Resthctsd fund$ 87.319 5.499 £ R810 122,145 5,979 £ 128.124 STATEMENT OF ASSETS AND LIABILITIES AT 31 DECEMBER 2023 11451UI ASSETS Bank bolanc•o Other ￿•h balancej 128,124 11 £ 1J1 LIABILITIES Current IlabiUle• 11 P•ncffj Sthema Li•tslty 12 The Flnandal Slotwngnls ￿t ￿at on pages 7 to 11 to Ihe y¥r gr*"r9 31 o￿lt￿ 2023 • preknJe•J by Rowiary Tbmm& Sl¥vS on b•hdl of Iha TruDtwi by.. Trw T￿jffl￿ (Tr￿t•0 Tr••wrwl Rrnemary Tlmm• (TnMt••l

SAFFRON WALDEN BAPTIST CHURCH (Reg charity No 1199611) FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2023

NOTES TO THE ACCOUNTS

(Except for Note 1 and stated elsewhere, these notes refer solely to the General Fund)

1 Basis of accounts:

These accounts have been prepared on a receipts and payments basis and accord with Section 133 Charities Act 2011.

2 Donations and other income
Lunch Club income (excluding charity donations)
Donations
Bank interest
Legacies
2023
3 Other causes
Receipts
BMS Birthday Scheme
485
Harvest Appeal
230
Christian Aid - Offering
174
Christian Aid - Lunch Club
748
Tommy's Charity
87
Liz & Sergio Vilela
225
Touchpoint Stansted
215
Medecin Sans Frontiere
216
DEC Turkey
295
Christmas Appeal 2022
210
Christmas Appeal 2022 - Lunch Club
80
Christmas Appeal 2021
-
Lighthouse Ministry
-
Saffron Walden Carnival
-
1st S W BB - Lunch Club
-
2,965
£		 (No 1199611)
2023
352
2,048
1,402
-
3,802
£
2023
Payments
485
230
174
748
87
225
-
-
295
210
80
-
-
-
-
2,534
£		 (No. 1145484)
2022
36
3,088
576
1,800
5,500
£
2022
Receipts
724
568
159
439
-
-
-
-
-
394
30
500
100
130
3,044
£		 2022
Payments
744
568
159
439
-
-
-
-
-
394
30
500
100
130
3,064
£

4 Funds from the BUC

We received £ 25,273 accrued interest associated with the permanent Endowment of the Robert Cozens charity set up in 1729. A further interest amount of £5,271 accrued before the year end which we received in 2024 and is shown as a monetary asset (note 9).

The capital sum remains with and is managed by the BUC. As the only known beneficiary we will continue to receive the entirety of the income, for the benefi of the church, for the foreseeable future.

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SAFFRON WALDEN BAPTIST CHURCH (Reg charity No 1199611) FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2023

NOTES TO THE ACCOUNTS (continued)

OTES TO THE ACCOUNTS (continued)
5 Ministry
Minister's stipend
Pension contributions (current)
Pension contributions (deficit)
Manse costs
Travel and other expenses
Visiting preachers
Conferences & training
Resources
Miscelaneous
Sunday Club and Youth Groups		 (No 1199611)
2023
30,636
3,857
12
3,710
2,104
479
130
-
-
505
41,433
£		 (No. 1145484)
2022
28,613
3,579
2,533
3,034
1,730
610
452
-
100
544
41,195
£

The Minister acts as one of the church's trustees and receives remuneration and other benefits in respect of his services as Minister, including the provision of manse accommodation [owned by the church]

6 Mission
Given to other causes
(Note 3)
Eastern Bapist Association
Baptist Missionary Society
Lunch Club costs
BMS - Liz & Sergio Vilela
Boys brigade - subs paid to HQ
DEC Turkey
5th Saffron Walden Scouts - Normandy Trip
7 Upkeep of church premises
Power & water & oil
Cleaning salary and materials
Church repairs and maintenance
Church upkeep projects from buildings fund
Church upkeep projects from trust fund
Insurance
Linton Close repairs and maintenance
Equipment
Grounds Maintenance
8 Administration
Anthony Collins Solicitors
Printing/Copying
Refreshments
Stationery & postage
Telephone & internet
Licences, subscriptions, website
Miscellaneous		 2,534
4,500
4,500
314
500
1,343
3,000
-
16,691
£
8,867
6,570
15,794
6,160
38,076
2,540
5,689
2,826
255
86,777
£
602
514
274
95
636
1,432
970
4,523
£		 3,064
3,600
3,600
190
150
1,498
-
250
12,352
£
11,016
6,126
3,844
-
-
2,431
510
502
303
24,732
£
3,180
504
77
535
565
1,896
1,644
8,401
£

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SAFFRON WALDEN BAPTIST CHURCH (Reg charity No 1199611) FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2023

NOTES TO THE ACCOUNTS (continued)

OTES TO THE ACCOUNTS (continued)
9 Other monetary assets (general fund)
Lettings debtors
BUC Trust Fund Interest
Gift aid receivable
Shelford Oil credit account ( see note 11 below)		 (No 1199611)
2023
4,939
5,271
2,206
-
12,416
£		 (No. 1145484)
2022
718
5,949
2,657
264
9,588
£

10 Non-monetary assets - held for the Church's own use

The Church is the beneficial owner (subject to the relevant trusts) of the following assets, the legal title to which is held by the Church's custodian trustee, the Baptist Union Corporation Ltd.

Insured Value of the following :
Saffron Walden Baptist Church, Audley Road,
Saffron Walden, Essex, CB11 3HD
The Manse, 31 Linton Close,
Saffron Walden, Essex, CB11 3BU
The Church also owns fixtures, furniture and
equipment with an insured value of:
11 Current Liabilities
Shelford Oil balance
Website & Zoom Nov - Dec invoices
Gas & Electricity December invoice
D G Maintenance Dec Invoice
Christmas Appeal 2023 collection		 2023
4,859,935
502,617
137,052
5,499,604
£
2023
1,594
57
532
210
431
2,824
£		 2022
4,637,350
448,765
130,775
5,216,890
£
2022
-
-
-
-
-
-
£

12 Pension Scheme Liabilities

The Church is an employer participating in the Baptist Pension Scheme which is administered by the Baptist Pension Trust Limited. The Scheme is a separate legal entity and the assets of the Scheme are held separately from those of the participating employers.

Benefits in respect of service prior to 1 January 2012 are provided through the Defined Benefit (DB) Plan within the Scheme which started in 1925 but was closed on 31 December 2011.

A formal valuation of the DB Plan was performed at 31 December 2019 by a professionally qualified Actuary using the Projected Unit Method. This valuation revealed a defcit of assets compared with the the liabilities. The Church and the other employers supporting the DB Plan are collectively responsible for funding this deficit.

On 30th June 2022 the Baptist Pension Scheme signed an agreement with the insurance company Just Group (“Just”) to secure DB Plan members’ pension benefits. Just are now providing financial backing for all pensions provided through the Scheme’s DB Plan and following this transaction, the Scheme no longer has a shortfall. An updated Recovery plan was then signed in August 2022 under which recovery contributions from each participating employer in the DB Plan reduced to £1 per month from August 2022.

The next actuarial valuation of the DB Plan within the Scheme took place on 31 December 2022 and this shows that the Scheme is no longer in deficit. Our liability has therefore been set to zero in the statement of assets and liabilities.

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Saffron Walden Baptist Church Accounts for thè year ended 31 Decèmber 2023 Ind8pendgnt Examiner's Rèport To the Trustees of Saffron Walden Baptist Church I report lo the trustees on my ttxamination of the accounts ol the charity for the year ended 31 December 2023 which are set out on pages 7 to 11. Rèspective Responsibilities of the Trustees and the Examiner As the charitls Iruslees you are responsiblè for the preparalion of thè a¢wunls in accordance with th8 requirétnents of the Charities Acts 20111.the Acl'l. I report in respect ol my examination of your charity's a¢¢ounts carried out und8r s8eti(>n 145 of the Act, and in carrying out my examination I have followed the applicable directions given by the Charity Commission under section 14515Xbl of the Act. Independent Ex3minerfs Report I have completed my examination. I confirm that no material mallers have come tc> my attèntion in connection with the examination giving me cause to believe that in any material respect.. the accounting records were not kept in respect of the charity as required by section 130 of the Act., or the accounts do not accord with those records., or Ihe accounts do not comply with the applicable requirements eon¢grning the lorm and content of accounts set out in th6 Charities IAccounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'trL16 and fair, view which is not a matter wnsidered as part of an independent examination I have no concems and have ¢ome across no other matters in Connection with the èxamination lo which attention should b& bioughl in this report in order to enable a proper understanding ol the accounts to be reached. Geoff Mann F IE Geoff Mann Limitèd Dee House Highworth Avenue Cambridge CB4 2BQ ZI JMO b4