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2021-12-31-accounts

GRAYS BAPTIST CHURCH

FINANCIAL STATEMENTS

31ST DECEMBER 2021

REGISTERED CHARITY NO. 219975

GRAYS BAPTIST CHURCH

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST DECEMBER 2021

CONTENTS

Page
Charity information 1
Trustees’ Annual report 2 - 6
Independent examiner’s report 7
Statement of financial activities 8
Balance Sheet 9
Notes 10 - 15
Detailed income and expenditure accounts 16 - 19

GRAYS BAPTIST CHURCH

CHARITY INFORMATION

TRUSTEES R. Bennett
J. Burt
D. Franks
S. Livermore
P. Stephenson
H. Hutchinson
K. Walker
R. Kensell
G. Kabia
L. Ansong
R. Ohene
R. Akinlawon
BANKERS Lloyds
34 High Street
Grays
Essex
RM17 6LX
ACCOUNTANTS Peaty & Co
Chartered Accountants
163-164 Moulsham Street
Chelmsford
Essex
CM2 0LD
CHARITY REGISTRATION NUMBER 219975
ADDRESS Orsett Road
Grays
Essex
RM17 5HH

1

GRAYS BAPTIST CHURCH

TRUSTEES’ ANNUAL REPORT FOR THE YEAR ENDED 31ST DECEMBER 2021

The Trustees of the charity present their annual report and the financial statements for the year ended 31st December 2021. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the charity’s trust deed, the Charities Act 2011 and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland published on 16/07/2014.

HISTORY, OBJECTIVES AND ACTIVITIES OF THE TRUST

NAME OF CHARITY Grays Baptist Church
GOVERNING DOCUMENT Deed of Settlement dated 26th January 1894
DESCRIPTION A place for religious worship by a church or society of
Protestant dissenters called Particular Baptist

The Charity Registration Number, Charity Address and List of Trustees can be found on page 1.

MANAGEMENT AND GOVERNANCE ARRANGEMENTS MANAGEMENT AND GOVERNANCE ARRANGEMENTS
LEADERSHIP Minister, 2 Elders, 10 Leaders
MEMBERSHIP 55 (as at December 2021)
MEMBERSHIP
STATISTICS:age groups 0-20 years - 0 members
21-40 years
- 21 members
41-60 years - 18 members
61+ - 16 members
EMPLOYEES
MINISTER Vacant
CLEANERS Mrs J. Sackey (part time)
Mrs D. Phillips (part time)

The trust deed provides for a minimum and a maximum of trustees. When there is a requirement for new trustees, these are identified and appointed by Church members. The chair of trustees is responsible for the induction of any new trustee which involves awareness of a trustee’s responsibilities, the governing document, administrative procedures, the history and philosophical approach of the charity. A new trustee receives copies of the previous year’s annual report and accounts and a copy of the Charity Commission leaflet ‘The Essential Trustee: What You Need to Know’. Most of the existing trustees have held office for over 10 years.

The trustees annually review the risks that the charity faces. These continue to be considered minimal and relate to falling numbers and ages of members.

2

GRAYS BAPTIST CHURCH

TRUSTEES’ ANNUAL REPORT (CONTINUED) FOR THE YEAR ENDED 31ST DECEMBER 2021

PROCEDURES AND MEETINGS

ELDERS’ MEETING

Regularly throughout the month.

LEADERS’ MEETING First Monday of the month

CHURCH MEETINGS

CHURCH ACTIVITIES

Sunday Services First Sunday of the month All Age Service with Family Communion. Second to Fifth Sundays Preaching Service at 10.30am Average attendance Adults and Children 90 Youth Activities Children’s Church – Primary age Teenager’s Church – Secondary age Creche Each Sunday

3

GRAYS BAPTIST CHURCH

TRUSTEES’ ANNUAL REPORT (CONTINUED) FOR THE YEAR ENDED 31ST DECEMBER 2021

Mid-week Daytime Bible Study Friday morning group) Special services held during 2021 Believer’s Baptism 0 Receiving new Church members 0 Marriage 0 Child dedication 0

Meetings/Activities involving the Community

Rascals - a Parent and Toddler group, held weekly, used by approximately 20 families.

The Space - a community “drop-in” centre, held weekly, open to anyone, 20 people per session.

The funding for all activities is through donations plus some fund raising activities. The leadership team oversees all activities with help from a dedicated band of volunteers.

ACHIEVEMENTS AND PERFORMANCE OF THE TRUST

Grays Baptist Church continues to be a member of:

and the Church continues to consist of those individuals who have become a member according to Section 4 of the Church Rules (updated November 2005), Section 4.

4

GRAYS BAPTIST CHURCH

TRUSTEES’ ANNUAL REPORT (CONTINUED) FOR THE YEAR ENDED 31ST DECEMBER 2021

During the year, the Church membership has fallen slightly, along with the number of people attending services. It continues to support events within the Baptist family both locally and regionally and also participates in events taking place locally with other Churches in the area.

FINANCIAL REVIEW

The Church finances are set out on pages 8 to 15. It is the trustees’ policy not to acquire or maintain large reserves and this is reflected in our financial statements. However, in December 2019 a legacy of £300,035 was received which has led to the significant increase in reserves.

FUTURE PLANS

The trustees continue with their plan set out in its Deed of Settlement, maintaining a place of religious worship in Grays.

TRUSTEES’ RESPONSIBILITIES IN RELATION TO THE FINANCIAL STATEMENTS

The charity trustees are responsible for preparing a trustees’ annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England and Wales requires the charity trustees to prepare financial statements for each year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, of the charity for that period. In preparing the financial statements, the trustees are required to:

The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations, and the provisions of the Trust deed. They are also responsible for safeguarding the assets of the charity and taking reasonable steps for the prevention and detection of fraud and other irregularities.

5

GRAYS BAPTIST CHURCH

TRUSTEES’ ANNUAL REPORT (CONTINUED) FOR THE YEAR ENDED 31ST DECEMBER 2021

The trustees are responsible for the maintenance and integrity of the charity and financial information included on the charity’s website in accordance with legislation in the United Kingdom governing the preparation and dissemination of financial statements.

INDEPENDENT EXAMINER

The trustees intend to ask the existing accountants to undertake the independent examination of the Trust in the following year.

This report was approved by the board on 27th March 2022 and signed on their behalf by:

……………………………… Miss S. Livermore

6

GRAYS BAPTIST CHURCH

INDEPENDENT EXAMINERS’ REPORT TO THE TRUSTEES OF GRAYS BAPTIST CHURCH FOR THE YEAR ENDED 31ST DECEMBER 2021

I report to the trustees on my examination of the accounts, set out on pages 8 to 15, of the above charity (“the Trust”) for the year ended 31st December 2021.

Responsibilities and basis of report

As the charity’s trustees, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (“the Act”).

I report in respect of my examination of the Trust’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 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 which gives me cause to believe that, in any material respect:

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

L. Ayling FCA

Peaty & Co Chartered Accountants 163-164 Moulsham Street Chelmsford Essex CM2 0LD

27th March 2022

7

GRAYS BAPTIST CHURCH

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST DECEMBER 2021

Note
Income
Income and endowments
Donations and legacies
2
Income from charitable activities 3
Investment income
4
Other income
5
Total income and endowments
Expenditure
Expenditure on raising funds
Expenditure on charitable activities
Church activities
Donations
Support costs
Governance costs
Total expenditure
6
Net income/(expenditure)
before transfers
Transfers between funds
Net movement in funds
Reconciliation of funds
Fund balances brought forward
at 1st January 2021
Fund balances carried forward
at 31st December 2021		 Unrestricted
40,306
-
4
12,810
_
53,120
_
-
19,166
7,838
6,595
1,584
_
35,183
_
17,937
(1,530)
_
16,407
58,625
_
75,032
_		 2021
2020
Restricted
Total
Total
1,027
41,333
48,582
-
-
194
1,489
1,493
161
150
12,960
16,170
_
_
_
2,666
55,786
65,107
_
_
_
-
-
9
1,967
21,133
17,578
756
8,594
13,127
-
6,595
4,726
-
1,584
1,944
_
_
_
2,723
37,906
37,384
_
_
_
(57)
17,880
27,723
1,530
-
-
_
_
_
1,473
17,880
27,723
339,428
398,053
370,330
_
_
_
340,901
415,933
398,053
_
_
_		 2020
Total

All the above results are derived from continuing activities. All gains and losses realised in the year are included. Note 9 gives details of changes in funds applied for fixed assets for charity use.

8

GRAYS BAPTIST CHURCH

BALANCE SHEET

Fixed assets
Tangible assets
Current assets
Cash at bank and in hand
Creditors: amounts falling
due within one year
Net current assets
Net assets
Funds
Unrestricted funds
Restricted funds
Fixed asset valuation reserve		 AS AT 31ST DECEMBER 2021
Notes
2021
2020
£
£
9
2,360,748
2,276,120
378,987
361,467
10
1,584
1,944
_
_
377,403
359,523
_
_
2,738,151
2,635,643
_
_
11
75,032
58,625
11
340,901
339,428
11
2,322,218
2,237,590
_
_
2,738,151
2,635,643
_
_

The financial statements on pages 8 to 15 were approved by the Trustees on 27th March 2022 and signed on its behalf by:

………………………

Miss S. Livermore

9

GRAYS BAPTIST CHURCH

NOTES TO FINANCIAL STATEMENTS 31ST DECEMBER 2021

1. Accounting policies

(a) Basis of preparation and assessment of going concern

The accounts (financial statements) have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note to these accounts. The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS102) issued on 16th July 2014 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS102) and the Charities Act 2011.

The charity constitutes a public benefit entity as defined by FRS102.

The trustees consider that there are no material uncertainties about the charity’s ability to continue as a going concern.

(b) Fund structure

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 and which have not been designated for other purposes. Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The cost of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.

(c) Income recognition

All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.

Donations are recognised when the charity has been notified in writing of both the amount and settlement date. In the event that a donation is subject to conditions that require a level of performance before the charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the charity and it is probable that those conditions will be fulfilled in the reporting period.

10

GRAYS BAPTIST CHURCH

NOTES TO FINANCIAL STATEMENTS 31ST DECEMBER 2021

Legacy gifts are recognised on a case by case basis following the granting of probate when the administrator/executor for the estate has communicated in writing both the amount and settlement date. In the event that the gift is in the form of an asset other than cash or a financial asset traded on a recognised stock exchange, recognition is subject to the value of the gift being reliably measurable with a degree of reasonable accuracy and the title to the asset having been transferred to the charity.

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank.

(d) Expenditure recognition

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to the expenditure, it is probable that settlement will be required and the amount of the obligation can be measured reliably. All expenditure is accounted for on an accruals basis. All expenses including support costs and governance costs are allocated or apportioned to the applicable expenditure headings.

(e) Fixed assets

The church premises and contents are included in the balance sheet at insurance value because reliable cost information is not available, and valuation would incur significant costs which would be onerous compared with the additional benefit gained by the user of the accounts.

The manse premises are stated at cost.

2. Donations and legacies

Donations and legacies
2021 2020
£ £
Offerings 32,794 39,243
Donations 2,964 2,526
HM Revenue & Customs refunds 5,575 6,813
_ _
41,333 48,582
_ _

11

GRAYS BAPTIST CHURCH

NOTES TO FINANCIAL STATEMENTS 31ST DECEMBER 2021

3. Income from charitable activities Income from charitable activities
2021 2020
£ £
Fundraising - 194
______ ______
4. Investment income
2021 2020
£ £
Bank interest 1,493 161
______ ______
5. Other income
Hall hire 2,290 1,170
Manse rent 10,520 15,000
Sale of equipment 150 -
______ ______
12,960 16,170
______ ______
6. Total resources expended
Staff Other Total Total
Costs Costs 2021 2020
Expendable on raising funds:
Fundraising costs - - - 9
______ ______ ______ ______
Charitable activities:
Premises expenses 4,746 8,975 13,721 12,417
Ministers costs 4,238 - 4,238 2,781
Activities of Church groups - 186 186 575
Other Church costs - 2,988 2,988 1,805
Donations - 8,594 8,594 13,127
______ ______ ______ ______
8,984 20,743 29,727 30,705
______ ______ ______ ______
Governance costs - 1,584 1,584 1,944
Support costs - 6,595 6,595 4,726
______ ______ ______ ______
Total resources expended 8,984 28,922 37,906 37,384
______ ______ ______ ______
12

GRAYS BAPTIST CHURCH

NOTES TO FINANCIAL STATEMENTS 31ST DECEMBER 2021

The resources expended by the charity include:

2021 2020
£ £
Independent examiner’s fee 1,584 1,944
______ ______
  1. Trustees’ remuneration

The trustees neither received nor waived any emoluments during the year (2020 - £Nil).

8. Staff costs
2021 2020
£ £
Wages and salaries 8,984 7,297
______ ______
9. Tangible fixed assets
Land and Fixtures and
Buildings Fittings Total
Valuation:
At 1st January 2021 2,106,611 169,509 2,276,120
Revaluation 77,669 6,959 84,628
__ __ __
At 31st December 2021 2,184,280 176,468 2,360,748
__ __ __
10. Creditors: amounts falling due
within one year 2021 2020
£ £
Accruals 1,584 1,944
_ _

13

GRAYS BAPTIST CHURCH

NOTES TO FINANCIAL STATEMENTS 31ST DECEMBER 2021

11. Statement of funds

At 01/01/21 Income/ Expenditure Transfers At 31/12/21 Revaluation

Unrestricted funds:
General reserve 58,625 53,120 (35,183) (1,530) 75,032
______ ______ ______ ______ ______
Restricted funds:
Building fund 4,378 349 (1,781) 1,200 4,146
Youth work fund 838 320 (756) 470 872
Space fund 4 136 (60) (40) 40
Rascals fund 52 222 (126) (100) 48
Sound system fund 9,115 150 - - 9,265
Legacy fund 325,041 1,489 - - 326,530
______ ______ ______ ______ ______
Total restricted funds 339,428 2,666 (2,723) 1,530 340,901
______ ______ ______ ______ ______
Fixed asset valuation
reserve 2,237,590 84,628 - - 2,322,218
__ _ _ ______ __
Total funds 2,635,643 140,414 (37,906) - 2,738,151
__ _ _ ______ __

The General reserve represents the free funds of the charity which are not designated for particular purposes.

The Building Fund represents funds received for maintenance of the Church buildings.

The Youth Work Fund represents the funds of the Sunday School and Youth Group.

The Space Fund represents the funds of the drop in centre.

The Rascals Fund represents the funds of the parent and toddler group.

The Sound System Fund represents funds raised towards the replacement and maintenance of the sound system.

The Legacy Fund represents funds received in December 2019 from a deceased member. The funds are invested to earn income to be used towards the salary for a Minister.

14

GRAYS BAPTIST CHURCH

NOTES TO FINANCIAL STATEMENTS 31ST DECEMBER 2021

12. Analysis of net assets between funds:

Unrestricted Restricted Total
Funds Funds
Fund balances at 31st December 2021
are represented by:
Tangible fixed assets 2,351,633 9,115 2,360,748
Cash at bank and in hand 47,201 331,786 378,987
Creditors (1,584) - (1,584)
__ _ __
Net assets: 2,397,250 340,901 2,738,151
__ _ __

15

GRAYS BAPTIST CHURCH

DETAILED INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31ST DECEMBER 2021

2021 2020
£ £ £ £
General fund
INCOME
Offerings and donations 40,306 47,738
Interest received 4 14
Hire and weddings 12,810 16,170
Transfers 140 100
_ _
53,260 64,022
EXPENDITURE
Building and maintenance 11,940 12,417
Pastoral 7,226 4,586
Donations 7,838 9,305
Support and governance 8,179 6,670
Transfers 1,670 29,460
_ _
36,853 62,438
_ _
Net income for the year 16,407 1,584
_ _
Building fund
INCOME
Offerings and donations 349 152
Fundraising - 148
Interest received - 1
Transfers 1,200 1,260
_ _
1,549 1,561
EXPENDITURE
Repairs and renovations 1,781 435
_ _
1,781 435
_ _
Net (expenditure)/income for the year (232) 1,126
_ _

16

GRAYS BAPTIST CHURCH

DETAILED INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31ST DECEMBER 2021 (continued)

2021 2020 2020
£ £ £
£
Youth work fund
INCOME
Offerings and donations 320 190
Fundraising - 46
Transfers 470 340
_ _
790 576
EXPENDITURE
Fundraising - 9
Donations 756 747
Books, supplies etc. - 9
Outing - (200)
_ _
756 565
_ _
Net income for the year 34 11
_ _
Space fund
INCOME
Offerings and donations 136 125
EXPENDITURE
Donations - 25
Food, equipment etc. 60 114
Transfers 40 -
_ _
100 139
_ _
Net income/(expenditure) for the year 36 (14)
_ _

17

GRAYS BAPTIST CHURCH

DETAILED INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31ST DECEMBER 2021 (continued)

2021 2020 2020
£ £ £ £
Rascals fund
INCOME
Offerings and donations 222 377
EXPENDITURE
Food, toys, equipment etc. 126 217
Donations - 50
Transfers 100 100
_ _
226 367
_ _
Net (expenditure)/income for the year (4) 10
_ _
Sound System fund
INCOME
Sale of equipment 150 -
______ ______
Net income for the year 150 -
______ ______

18

GRAYS BAPTIST CHURCH

DETAILED INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31ST DECEMBER 2021 (continued)

2021 2020 2020
£ £ £ £
Legacy fund
INCOME
Interest received 1,489 146
Transfers - 27,860
_ _
1,489 28,006
EXPENDITURE
Donations - 3,000
_ _
Net income for the year 1,489 25,006
_ _
2021 2020
SUMMARY
General fund 16,407 1,584
Building fund (232) 1,126
Youth work fund 34 11
Space fund 36 (14)
Rascals fund (4) 10
Sound system fund 150 -
Legacy fund 1,489 25,006
_ _
Net income for the year 17,880 27,723
_ _

19