Pitlochry Baptist Church (SC016707) Financial Statement 1 December 2019 - 30 November 2020
| Income | Note | Unrestricted | Restricted | Total | Total |
|---|---|---|---|---|---|
| Funds | Funds | 2019 - 2020 | 2018 - 2019 | ||
| £ | £ | £ | £ | ||
| Open offering | 4 | 82229 | 11352 | 93581 | 94317 |
| Gift Aid claimed | 5 | 22013 | 0 | 22013 | 21876 |
| Legacy / Grant Income | 7 | 0 | 10100 | 10100 | 1000 |
| Rent | 5 | 0 | 5 | 55 | |
| Building projects | 8 | 0 | 2639 | 2639 | 975 |
| Other income | 9 | 0 | 381 | 381 | 6591 |
| Collections for other causes | 10 | 0 | 11525 | 11525 | 8550 |
| 104247 | 35997 | 140245 | 133365 | ||
| Expenditure | |||||
| Charitable activities | 11+12 | 96835 | 10469 | 107304 | 124022 |
| Donations to other causes | 10+13 | 2050 | 11525 | 13575 | 8550 |
| Grant expenditure | 7709 | 7709 | 1000 | ||
| Other expenditure | 9 | 587 | 587 | 5659 | |
| 98885 | 30290 | 129174 | 139231 | ||
| Surplus/(Deficit) for year | 14 | 11070 | -5866 | ||
| Bank Reconciliation | 15 | Start of year | Income | Expenditure | End of year |
| £ | £ | £ | £ | ||
| Account 288 | 2746 | 61575 | 50011 | 14310 | |
| Account 261 | 34670 | 91670 | 92163 | 34177 | |
| Total | 37417 | 153245 | 142174 | 48487 | |
| Interaccount transfers | 13000 | 13000 | |||
| Income and expenditure excluding interaccount transfers | 140245 | 129174 | |||
| Fund Balances | 2 | Start of year | Income | Expenditure | End of year |
| £ | £ | £ | £ | ||
| General fund | 30368 | 119094 | 110410 | 39052 | |
| Fabric Fund | 5060 | 2639 | 5060 | 2639 | |
| Fellowship Fund | 1774 | 8130 | 5409 | 4495 | |
| Friendship Hour | 216 | 24 | 240 | 0 | |
| Collected for other causes | 0 | 357 | 347 | 10 | |
| Grant funds Enchanted Forest |
0 | 2000 | 2000 | 0 | |
| Baptist Union of Scotland | 0 | 5000 | 5000 | 0 | |
| Peter Vardy Foundation | 0 | 1500 | 709 | 791 | |
| All Churches Trust | 1500 | 0 | 1500 | ||
| Total | 37417 | 140245 | 129174 | 48487 | |
| Statement of Balances | 16 | £ | £ | ||
| 2019-2020 | 2018-2019 | ||||
| Total of funds at beginning of year | 37417 | 43283 | |||
| Surplus/Deficit for year | 11070 | -5866 | |||
| Total funds at the end of the year | 48487 | 37417 |
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Notes to Accounts
1. Basis of Accounting
These accounts have been prepared on the Receipts and Payments basis.
2. Nature and Purpose of Funds
Unrestricted funds are those that may be used at the discretion of the trustees in furtherance of the objects of the charity. Restricted funds may only be used for the specific purpose for which they are given. These funds are split over two bank accounts for historic and practical reasons, but both accounts combine to hold both unrestricted and restricted funds.
3. Related Party Transactions
As both paid pastors were trustees, Trustee remuneration was as per Stipend line in Para. 11.
The senior pastor of the church is paid a stipend and reasonable expenses and provided with living accommodation. The youth pastor who was appointed in July 2015 for a 3 year term which was renewed in 2018 is paid a similar stipend but has to pay his own accommodation.
A self employed finance administrator was engaged in December 2019.
4. Open Offering
This normally consists of weekly offering taken in church and standing orders paid into the bank. During (ongoing) Covid restrictions weekly offerings have not been taken but more members and friends are paying by regular standing orders and one off donations. Offerings also includes collections for specified purpose, including expression of support for the Children and Youth ministry, and the Fellowship Fund that is a restricted fund for members of the fellowship in need. The high value of that fund this
| £ | |
|---|---|
| Fellowship Fund | 8130 |
| Children and Youth ministry | 3222 |
| Open offering (restricted) total | 11352 |
Fellowship Fund surplus is carried forward into following year so is included in Fund Balances table above whereas income specified for Children and Youth ministry is always spent within the year.
5. Gift Aid
All gift aid reclaimed was put into the general fund except in cases where whole donations were specified for a particular purpose.
6. Loans and Borrowings
There were no loans or borrowings this year
7. Legacy / Grant Funding
£2000 was granted from The Enchanted Forest and £5000 from the Baptist Union of Scotland for the use of upgrading music and video recording equipment especially for the youth. These grants were fully spent.
The was a grant of £1500 from Peter Vardy Trust for Covid related support in the community.
There was also a legacy of £100 specifying "Sunday School", spent in Children and youth ministry.
A grant for £1500 from All Churches Trust is restricted to the "Windows" project to be held in the Fabric Fund.
8. Building Projects
The "Back Corridor" project, to provide disabled toilets and additional meeting space, has commenced. Most of the cost to date has been covered by the Fabric Fund. The remainder going forward shall come from the General Fund. A separate "Windows" project for the replacement of windows will commence in 2021 for which money is being set aside in the Fabric Fund, and the much of the remainder shall come from grant funding.
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9. Other Income and Expenditure (Restricted)
| Income | Expenditure | ||
|---|---|---|---|
| £ | £ | ||
| Friendship Hour | 24 | 240 | |
| Steadfast Global | 357 | 347 | |
| Total | 381 | 587 |
Friendship hour is a small group supervised by the church who take a collection for a charity at most meetings - this money is held by the church until the group decide which charity to support. Friendship Hour has used all its funding in 2020 and, for the time being, will no longer meet.
10. Collections for Other Causes
| 10. Collections for Other Causes | ||
|---|---|---|
| Income | Expenditure | |
| 2019-2020 | 2019-2020 | |
| £ | £ | |
| Claire Simpson YWAM | 11525 | 11525 |
11. Expenditure from Unrestricted Funds on Charitable Activities
| 2019-2020 | 2018-2019 | ||
|---|---|---|---|
| £ | £ | ||
| Pastors Stipend/NI/Pension | 66450 | 65573 | 101% |
| Pension Fund Deficiency Contributions | 3486 | 4844 | 72% |
| Staff Expenses | 1804 | 4215 | 43% |
| Sundries | 92 | 155 | 59% |
| Outreach, Training and Development | 2095 | 4356 | 48% |
| Children and Youth | 1305 | 6989 | 19% |
| Sunday service inc pulpit supply | 778 | 1731 | 45% |
| Church family expenses | 123 | 113 | 109% |
| Worship / Music/Sound/Visual | 1351 | 773 | 175% |
| Manse maintenance | 338 | 718 | 47% |
| Church maintenance | 128 | 5244 | 2% |
| Church building projects | 103 | ||
| Insurance and rates | 5393 | 5468 | 99% |
| Loan Repayment | 4016 | ||
| Church cleaning | 730 | 2133 | 34% |
| Church Utilities | 2235 | 3379 | 66% |
| BU Membership & Assembly * | 5412 | 3948 | 137% |
| Telephone church and manse | 1209 | 1379 | 88% |
| General admin | 3804 | 1873 | 203% |
| Total | 96835 | 116905 | 83% |
*Payments made to Baptist Union of Scotland are voluntary but guided contribution of £42 per member. Until this year an annual payment has been made at the end of their financial year. However we have now moved to paying monthly by standing order, giving a higher total this year.
12. Expenditure from Restricted Funds on Charitable Activities
| £ | £ | |
|---|---|---|
| 2019-2020 | 2018-2019 | |
| Fabric Fund | 5060 | 0 |
| Fellowship Fund | 5409 | 4340 |
| Total | 10469 | 4340 |
Page 3
13. Other Charitable Donations (from general fund - unrestricted)
| 2019-2020 | 2018-2019 | |
|---|---|---|
| £ | £ | |
| Support to church members for mission | 400 | |
| Claire Simpson (YWAM) | 750 | 1100 |
| Swansons (MAF) | 450 | 850 |
| Dicks (AWM) | 750 | 1100 |
| Steadfast Global | 100 | 327 |
| Total | 2050 | 3777 |
Total this year is low because quarterly gifts due in Nov-20 were inadvertently delayed until Dec-20.
14. Surplus /Deficit for the year
There was a surplus for the year of: £ 11,070.43
Members offerings to general fund (including standing orders) fell around 6%. Total income excluding grants fell only 0.5%. General fund expenditure fell significantly (15%) mostly due to lockdown.
15. Bank reconciliation
The income and expenditure for each account include a total of £13,000 transfrerred from account 261 to 288.
16. Statement of Balances
All cash assets of the charity are held in the 2 bank accounts, therefore total funds for the beginning and end of year match the opening and closing sums of the two bank accounts.
17. Fixed Assets
| 17. Fixed Assets | ||
|---|---|---|
| 2019-2020 | 2018-2019 | |
| £ | £ | |
| Church | 25,000 | 25,000 |
| Manse | 325,000 | 300,000 |
| Furniture, fittings, pa system | 8,000 | 4,000 |
| Total | 358,000 | 329,000 |
The value of the fixed assets is an estimate made by the trustees.
Because of issues arising from listed building status and uncertainties regarding likely planning permissions, the Trustees have put a notional asset value on the church building which is the property of the Church. The church building was professionally valued for insurance purposes at £1,591,000 in March 2009. Neither OSCR or insurers require a professional revaluation. Manse value increased to reflect known general increase in Pitlochry property value. Furniture, fitting value increased to reflect significant addition of sound and video equipment.
18. Pension Scheme Liability
The Baptist Pension Scheme has had a significant deficit now estimated at 16.4% of its liability. The church contributes deficiency contributions on a monthly basis at a rate determined by the scheme. In the event of a cessation under section 75 of the Pension Act 1955, the trustees of the church will be liable for the proportion of the overall deficit applicable to its previous ministers benefits within the scheme. The estimated debt for PBC as at November 2020 was £27,300 compared with £ 37,400 in the previous year.
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PITLOCHRY BAPTIST CHURCH SC016707 INDEPENDENT EXAMINER'S REPORT I report on the accounts of the charity for the year ended 30th November 2020, which are set out on pages 1-4. Respective responsibilities of the trustees and examiner. The charity's trustees are responsible for the preparation of the accounts in accordance with the terms of the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006. The charity's trustees consider that the audit requirement of Regulation 10(1) (d) of the 2006 Accounts Regulations does not apply. It is my responsibility to examine the accounts as required under section 44(1) (c) of the Act and to state whether particular matters have come to my attention Basis of independent examiner's statement My £Jxaryination was carried out in accordance with regulation 11 of the 2006 Accounts Regulations. This examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeks explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently I do not express an audit opinion on the view given by the accounts. Independent examiner's statement In the course of my examination, no matter has come to my attention 1. which gives me reasonable cause to believe that in, any material respect, the requirements: to keep accounting records in accordance with section 44(1)(a) and regulation 4 of the 2006 accounts regulations; and to prepare accounts which accord with the accounting records and comply with the accounting requirements of regulation 9 of the 2006 accounts regulations have not been met; or 2. to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. Date 15 April 2021