Blunham Old Meeting Baptist Church Trust Trustee's Annual Report and Accounts Forthe Year Ended 31st December 2021
Blunham Old Meeting Baptist Church Trust
Trustee's Annual Report and Accounts
For the Year Ended 31st December 2021
Report of the Trustees
1. Legal and Administrative Information
The Charity is known as Blunham Old Meeting Baptist Church Trust
The Charity Commission Number is 237680
The Charity's principal address is:-
c/o Roydon Loveley, 8 Dove Road, Bedford, MK41 7AA
The principal governing document is an Indenture dated 5th December 1747 signed by John Hubbard, Richard Emery, Francis Atwood and John Grant.
The objects of the Charity are to apply rent and profits:
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in repairing and upholding the premises for religious worship and
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for such other uses which shall be for the good and benefit of the congregation
2. Trustees
The Trustees acting during this period were:
Mr. M. Button Mrs. B.M. Murray Mr. S. John Mr. R. Loveley (appointed 14th October 2021) Mr. P. Humphrey (appointed 14th October 2021)
3. Activities and Achievements
The Charity seeks to provide and maintain a meeting place for religious worship.
The Charity makes financial assistance available at its discretion to members of the community deemed to be poor and in need of help. No payments were made by the Trust for this purpose in 2021.
Blunham Baptist Church ceased using the building during 2010 and the Family Life Church (formerly known as Word of Life Church) whose beliefs agree with the Trust Deed; worshipped in the building until 2020 when Covid and declining numbers brought a cessation of Services.
In 2021, the Trustees met with the leaders of Kings Arms Church Bedford to discuss ownership of the building, land and assets of the Trust. Two new Trustees from Kings Arms were appointed in October 2021. It is intended that the Blunham property will once again become a thriving church community as an additional location for Kings Arms services, reaching into the nearby villages and beyond.
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Blunham Old Meeting Baptist Church Trust
Trustee's Annual Report and Accounts
For the Year Ended 31st December 2021
4. Policies
The Investment portfolio is comprised of units in the COIF Charity Investment Fund.
The Fund, consisting of well-diversified investments principally equities but including other asset classes, aims to be suitable for up to 100% of a charity’s long-term capital, providing a return that is even-handed between present and future beneficiaries. It is believed that over the longer-term this approach should help to protect both capital and income from the effects of inflation.
The Fund follows an ethical investment policy. The portfolio is invested mainly in equities but will also include fixed interest securities, property and other assets.
The Trustees continue to believe that investment in these units is consistent with the Charity's aims and objectives and the obligation to ensure the best possible income allied to an acceptable degree of security for its assets.
The overall strategy towards the level of cash reserves that must be retained, takes account of the need to cover the cost of major repairs and of rectifying any deterioration to the buildings and provide funds for possible future enhancements.
5. Signatures and Declaration
We declare in our capacity of Charity Trustees, that the Trustees have approved the above report and attached accounts and have authorised us to sign on their behalf.
Signature:
Full name: Peter Humphrey
Date: 28th April 2022
Signature:
Full name: Roydon Loveley
Date: 28th April 2022
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Blunham Old Meeting Baptist Church Trust
Trustee's Annual Report and Accounts
Receipts & Payments Account
For the Year Ended 31st December 2021
| RECEIPTS Dividends - COIF Charity Funds Note 1 Bank Interest Rent received - Field R.A. Gibson Funds transferred from Investment Note 2 Less: PAYMENTS Insurances - Chapel Chapel grounds maintenance Funds transferred to Family Life Church Note 2 Youth Pastor Redundancy Excess/(Deficit) of Receipts over Payments Cash funds at 1st January Cash funds at 31st December Check |
2021 £ 7,554 0 50 20,000 27,604 (975) (1,860) (20,000) 0 (22,835) 4,769 7,008 11,776 ok |
2020 £ 7,406 3 50 0 7,459 (977) 0 0 (20,237) (21,214) (13,755) 20,763 7,008 ok |
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Blunham Old Meeting Baptist Church Trust
Trustee's Annual Report and Accounts
Statement of Assets and Liabilities As at 31st December 2021
| LAND & BUILDINGS Chapel Buildings Note 4 Chapel Contents Note 4 Field - rented to R. A. Gibson INVESTMENTS COIF Charity Investment Fund units held Note 2&3 Mid-market value at 31st December COIF Charity Investment Fund at market value 31st December CASH FUNDS Natwest Bank - Current Account Natwest Bank - Deposit Account Total Assets |
2021 2020 £ £ 1,112,284 1,112,284 67,886 67,886 13,295 14,285 20.57 18.01 273,429 257,288 7,636 2,868 4,141 4,140 11,777 7,008 1,465,376 1,444,466 No current valuation |
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Blunham Old Meeting Baptist Church Trust
Trustee's Annual Report and Accounts
Notes to the accounts
For the Year Ended 31st December 2021
Note 1
| Note 1 | ||
|---|---|---|
| COIF Charity Investment Fund | ||
| 2021 | 2020 | |
| Quarterly dividends received per unit were: | Pence per unit | Pence per unit |
| 28th February | 12.99 | 12.48 |
| 31st May | 13.19 | 13.19 |
| 28th August | 13.19 | 13.19 |
| 30th November | 13.51 | 12.99 |
Note 2
COIF Charity Investment Fund
On 4th November, 2021 the Trust sold 989.79 units at £20.2063 per unit realising £20,000. These funds were transferred to Family Life Church for repairs to roof and general maintenance.
Note 3
COIF Charity Investment Fund
More than three quarters of the funds invested with COIF arose following the sale of the Church Manse in 2016. Proceeds of sale were in part used to fund improvements to the Church with the balance invested - 10,240 units were purchased on 15th June 2017 at £14.648 per unit at total cost of £150,000.
Note 4
Land & Buildings and content valuations are amounts covered in property damage section of Baptist Insurance policy renewal on 24th June 2021
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