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2022-12-31-accounts

GRAYS BAPTIST CHURCH

FINANCIAL STATEMENTS

31ST DECEMBER 2022

REGISTERED CHARITY NO. 219975

GRAYS BAPTIST CHURCH

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST DECEMBER 2022

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 – resigned 05/12/2022
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 2022

The Trustees of the charity present their annual report and the financial statements for the year ended 31st December 2022. 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 54 (as at December 2022)
MEMBERSHIP
STATISTICS:age groups 0-20 years - 0 members
21-40 years
- 20 members
41-60 years - 20 members
61+ - 14 members
EMPLOYEES
MINISTER Rev L.A. Ashley (appointed 01/11/22)
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 2022

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 70 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 2022

Mid-week Daytime Bible Study Friday morning group) Special services held during 2022 Believer’s Baptism 0 Receiving new Church members 2 Marriage 0 Child dedication 1

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, 15 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 2022

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 2022

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 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 2022

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 2022.

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

7

GRAYS BAPTIST CHURCH

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST DECEMBER 2022

Note
Incoming resources
Income and endowments from:
Donations and legacies
2
Investment income
3
Other income
4
Total income and endowments
Resources expended
Expenditure on:
Charitable activities
Total expenditure
5
Net income/(expenditure)
before transfers
Transfers between funds
Net movement in funds
Reconciliation of funds
Fund balances brought forward
at 1st January 2022
Fund balances carried forward
at 31st December 2022		 Unrestricted
40,416
18
9,040
_
49,474
_
50,627
_
50,627
_
(1,153)
(23,660)
_
(24,813)
75,032
_
50,219
_		 2022
2021
Restricted
Total
Total
2,035
42,451
41,333
6,057
6,075
1,493
-
9,040
12,960
_
_
_
8,092
57,566
55,786
_
_
_
2,418
53,045
37,906
_
_
_
2,418
53,045
37,906
_
_
_
5,674
4,521
17,880
23,660
-
-
_
_
_
29,334
4,521
17,880
340,901
415,933
398,053
_
_
_
370,235
420,454
415,933
_
_
_		 2021
Total

All the above results are derived from continuing activities. All gains and losses realised in the year are included. Note 8 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 2022
Notes
2022
2021
£
£
8
2,654,101
2,360,748
383,544
378,987
9
1,620
1,584
_
_
381,924
377,403
_
_
3,036,025
2,738,151
_
_
10
50,219
75,032
10
370,235
340,901
10
2,615,571
2,322,218
_
_
3,036,025
2,738,151
_
_

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

………………………

Miss S. Livermore

9

GRAYS BAPTIST CHURCH

NOTES TO FINANCIAL STATEMENTS 31ST DECEMBER 2022

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 2022

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
2022 2021
£ £
Offerings 30,969 32,794
Donations 4,677 2,964
HM Revenue & Customs refunds 6,805 5,575
_ _
42,451 41,333
_ _

11

GRAYS BAPTIST CHURCH

NOTES TO FINANCIAL STATEMENTS 31ST DECEMBER 2022

3. Investment income
2022 2021
£ £
Bank interest 6,075 1,493
______ ______
4. Other income
Hall hire 3,390 2,290
Manse rent 5,650 10,520
Sale of equipment - 150
______ ______
9,040 12,960
______ ______
5. Total resources expended
Staff Other Total Total
Costs Costs 2022 2021
Charitable activities:
Premises expenses 4,817 11,200 16,017 13,721
Ministers costs 6,503 240 6,743 4,238
Activities of Church groups - 473 473 186
Other Church costs - 6,583 6,583 2,988
Donations - 15,178 15,178 8,594
______ ______ ______ ______
11,320 33,674 44,994 29,727
______ ______ ______ ______
Governance costs - 1,620 1,620 1,584
Support costs - 6,431 6,431 6,595
______ ______ ______ ______
Total resources expended 11,320 41,725 53,045 37,906
______ ______ ______ ______

12

GRAYS BAPTIST CHURCH

NOTES TO FINANCIAL STATEMENTS 31ST DECEMBER 2022

The resources expended by the charity include: The resources expended by the charity include:
2022 2021
£ £
Independent examiner’s fee 1,620 1,584
______ ______
6. Trustees’ remuneration
The trustees neither received nor waived any emoluments during the year (2021 - £Nil).
7. Staff costs
2022 2021
£ £
Wages and salaries 11,320 8,984
______ ______
8. Tangible fixed assets
Land and Fixtures and
Buildings Fittings Total
Valuation:
At 1st January 2022 2,184,280 176,468 2,360,748
Revaluation 268,999 24,354 293,353
__ __ __
At 31st December 2022 2,453,279 200,822 2,654,101
__ __ __
9. Creditors: amounts falling due
within one year 2022 2021
£ £
Accruals 1,620 1,584
_ _

13

GRAYS BAPTIST CHURCH

NOTES TO FINANCIAL STATEMENTS 31ST DECEMBER 2022

10. Statement of funds

At 01/01/22 Income/ Expenditure Transfers At 31/12/22 Revaluation

Unrestricted funds:
General reserve 75,032 49,474 (50,627) (23,660) 50,219
______ ______ ______ ______ ______
Restricted funds:
Building fund 4,146 603 (945) 1,200 5,004
Youth work fund 872 451 (907) 290 706
Space fund 40 438 (314) (80) 84
Rascals fund 48 546 (219) (250) 125
Sound system fund 9,265 - (33) - 9,232
Legacy fund 326,530 6,054 - 22,500 355,084
______ ______ ______ ______ ______
Total restricted funds 340,901 8,092 (2,418) 23,660 370,235
______ ______ ______ ______ ______
Fixed asset valuation
reserve 2,322,218 293,353 - - 2,615,571
__ _ _ ______ __
Total funds 2,738,151 350,919 (53,045) - 3,036,025
__ _ _ ______ __

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 2022

12. Analysis of net assets between funds:

Unrestricted Restricted Total
Funds Funds
Fund balances at 31st December 2022
are represented by:
Tangible fixed assets 2,644,986 9,115 2,654,101
Cash at bank and in hand 22,424 361,120 383,544
Creditors (1,620) - (1,620)
__ _ __
Net assets: 2,665,790 370,235 3,036,025
__ _ __

15

GRAYS BAPTIST CHURCH

DETAILED INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31ST DECEMBER 2022

2022 2021
£ £ £ £
General fund
INCOME
Offerings and donations 40,416 40,306
Interest received 18 4
Hire and weddings 9,040 12,810
Transfers 330 140
_ _
49,804 53,260
EXPENDITURE
Building and maintenance 15,039 11,940
Pastoral 13,326 7,226
Donations 14,211 7,838
Support and governance 8,051 8,179
Transfers 23,990 1,670
_ _
74,617 36,853
_ _
Net (expenditure)/income for the year (24,813) 16,407
_ _
Building fund
INCOME
Offerings and donations 600 349
Interest received 3 -
Transfers 1,200 1,200
_ _
1,803 1,549
EXPENDITURE
Repairs and renovations 945 1,781
_ _
945 1,781
_ _
Net income/(expenditure) for the year 858 (232)
_ _

16

GRAYS BAPTIST CHURCH

DETAILED INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31ST DECEMBER 2022 (continued)

2022 2021 2021
£ £ £
£
Youth work fund
INCOME
Offerings and donations 451 320
Transfers 290 470
_ _
741 790
EXPENDITURE
Donations 907 756
_ _
907 756
_ _
Net (expenditure)/income for the year (166) 34
_ _
Space fund
INCOME
Offerings and donations 438 136
EXPENDITURE
Donations 60 -
Food, equipment etc. 254 60
Transfers 80 40
_ _
394 100
_ _
Net income for the year 44 36
_ _

17

GRAYS BAPTIST CHURCH

DETAILED INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31ST DECEMBER 2022 (continued)

2022 2021 2021
£ £ £
£
Rascals fund
INCOME
Offerings and donations 546 222
EXPENDITURE
Food, toys, equipment etc. 219 126
Transfers 250 100
_ _
469 226
_ _
Net income/(expenditure) for the year 77 (4)
_ _
Sound System fund
INCOME
Sale of equipment - 150
EXPENDITURE
Equipment 33 -
_ _
33 -
______ ______
Net (expenditure)/income for the year (33) 150
______ ______

18

GRAYS BAPTIST CHURCH

DETAILED INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31ST DECEMBER 2022 (continued)

2022 2021 2021
£ £ £ £
Legacy fund
INCOME
Interest received 6,054 1,489
Transfers 22,500 -
_ _
28,554 1,489
_ _
Net income for the year 28,554 1,489
_ _
2022 2021
SUMMARY
General fund (24,813) 16,407
Building fund 858 (232)
Youth work fund (166) 34
Space fund 44 36
Rascals fund 77 (4)
Sound system fund (33) 150
Legacy fund 28,554 1,489
_ _
Net income for the year 4,521 17,880
_ _

19