Tabernacle Baptist Church Wolverhampton - Charities report - 21.2
Tabernacle Baptist Church Wolverhampton - Charities report - 21.2
REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
| Report of the Trustees and |
| Financial Statements for the Year Ended 31 March 2021 |
for |
| Tabernacle Baptist Church Wolverhampton |
(A Company Limited by Guarantee) |
Tabernacle Baptist Church Wolverhampton |
Contents of the Financial Statements |
for the Year Ended 31 March 2021 |
Page |
Reference and Administrative Details | 1 |
Report of the Trustees | 2 | to | 5 |
Independent Examiner's Report | 6 |
Statement of Financial Activities | 7 |
Balance Sheet | 8 | to | 9 |
Notes to the Financial Statements | 10 | to | 20 |
Tabernacle Baptist Church Wolverhampton |
Reference and Administrative Details |
for the Year Ended 31 March 2021 |
TRUSTEES | Mrs B L Hamnett |
Pastor R Skinner (appointed 1.1.21) |
COMPANY SECRETARY | Mrs B L Hamnett |
REGISTERED OFFICE |
REGISTERED COMPANY NUMBER |
REGISTERED CHARITY NUMBER |
INDEPENDENT EXAMINER | Lewis Smith & Co. |
Chartered Certified Accountants |
The Old Doctor's House |
74 Grange Road |
Dudley |
West Midlands |
DY1 2AW |
Tabernacle Baptist Church Wolverhampton (Registered number: 07437171) |
Report of the Trustees |
for the Year Ended 31 March 2021 |
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2021. The trustees have adopted the provisions of 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 (FRS 102) (effective 1 January 2019). |
The Annual report serves the purposes of both a Trustees' report and a directors' report under company law. The Trustees confirm that the Annual report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable company's governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities. |
Since the charity qualifies as small under section 382 of the Companies Act 2006, the Strategic report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013 has been omitted. |
OBJECTIVES AND ACTIVITIES |
Policies and objectives |
| The charitable objectives are the advancement of the Christian faith according to the principles of the Baptist denomination and the charity may also advance education and carry out other charitable purposes in the United Kingdom and/or other parts of the world. |
| In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2). |
| Setting objectives and planning for activities were amended in accordance with the nationwide restrictions in place from March 2020 due to the Covid-19 pandemic. |
| Even though we were not able to fully open our building until April 2nd 2021, we hope the rest of the report will demonstrate the public benefit from the Charity's work, within Covid restrictions, specifically in advancing faith, bringing spiritual peace, and in social action that reaches the practical felt needs of those in our locality and overseas. |
Activities undertaken to achieve objectives |
| In order to achieve the objective above, the charity engages in the following activities: |
| - Regular worship, prayer, Bible study, preaching and teaching via Zoom |
| - The Communion of the Lord's Supper - shared on Zoom |
| - Evangelism and mission, locally, regionally, nationally, and internationally with continual support in all areas, |
| prayerfully, financially, contact locally, on the phone, zoom or face to face when allowed. |
| - The teaching, encouragement, welcome and inclusion of young people- inclusion in the services via Zoom, |
| university student zoom games nights |
| - Nurture and growth of the Christian disciples, via zoom services, meetings and teaching. |
| - Education and training for Christian and community service |
| - Giving and encouraging pastoral care - via WhatsApp groups, doorstep visiting, phone calls, letters, cards and |
| zoom groups including Chatty Crafters. |
| - Supporting and encouraging charitable social action in the United Kingdom and abroad with prayer, financially |
| and practically where possible |
| - Encouraging relationships with and supporting Baptists and other Christians - zoom gatherings, Heba Women's |
| conference, establishing a 3 times weekly 12 hours of prayer program |
Tabernacle Baptist Church Wolverhampton (Registered number: 07437171) |
Report of the Trustees |
for the Year Ended 31 March 2021 |
ACHIEVEMENT AND PERFORMANCE |
Review of activities |
| Working within the Nationwide Covid-19 restrictions, some of the key activities that have advanced our charitable aims and objectives include: |
| Children and Youth |
| - Continued weekly church provision for all aged 0-16 via Zoom, with downloadable activities via WhatsApp. |
| - Occasional activities for teenagers to encourage discipleship and fellowship via zoom. |
| - Supporting Eden Group with the Breakfast Club to deliver food and learning activities to local families in the |
| community. |
| - Weekly Stay and Play for infants and their carers suspended due to Covid. |
| Community |
| - Due to Covid restrictions all the Meet and Eat lunches held monthly to encourage fellowship and conversation for |
| church members and non-church friends and neighbours, were suspended. However, lunch box deliveries, |
| Christmas hamper deliveries, Mother's Day gifts, were distributed locally to needy families. |
| - Food donations continued to be given to the local foodbank, The Well. |
| - Clothing and furniture items, following the cessation of the lease at Broad Street building, were redistributed to |
| local families. |
| - Very small funerals and a wedding were carried out within the Church building, following Covid Guidelines. |
| Spiritual Development |
| - Church services have continued via Zoom on Sunday mornings |
| - Teaching programmes have sought to develop the discipleship life of the church and presented via Zoom. |
| - Weekly house groups continued via Zoom in various parts of the city, with each seeing 6-10 people joining |
| together for fellowship, worship, prayer, bible study and community engagement. |
| - Ladies@2, our weekly fellowship group of ladies on a Monday afternoon had to be suspended during the pandemic. |
| - Men's breakfasts, growing fellowship amongst men, and also involving more people in practical volunteering in |
| the premises had to be suspended due to the pandemic. |
| Mission and partnerships |
| - We continue to support Hope into Action to provide help to residents moving towards independent living. |
| - We support financially and practically people engaged in both long and short-term global mission including OMF, |
| BMS, Tear Fund.,the Lannons. |
| - A number of church members continue to volunteer with Operation Christmas Child, both during the shoebox |
| - campaign in the autumn, and throughout the year. |
| Buildings |
| - July 2020 saw the completion of the surrender of the lease on the Broad Street Building, a decision taken by the |
| Church members in November 2019. Work was carried out on the building in order to hand the building back in a |
| good condition and enable a new church to take over the lease. This activity was mainly in terms of repairs and |
| decoration, with no significant redevelopment taking place. |
| - The Italian room at Tabernacle Church was decorated and refurbished with a new kitchen area and window |
| blinds, making the room ready to be used fully for small groups and meetings. |
| - To prepare Tabernacle church to reopen after Covid restrictions were eased, work was carried out in the |
| Sanctuary, hall, toilets and foyer to ensure all Covid precautions were in place, including adapting seating, |
| signage, hand sanitising stations and constructing protective screens where necessary. |
| - To prepare the Manse for the new Pastor and his family, the tenants voluntarily vacated the premises. The |
| Manse was decorated, and repairs carried out in readiness for occupation by the Pastor in January 2021. |
Tabernacle Baptist Church Wolverhampton (Registered number: 07437171) |
Report of the Trustees |
for the Year Ended 31 March 2021 |
FINANCIAL REVIEW |
Reserves policy |
| It is our policy to try and maintain a reserve equivalent to approximately no lower than three months expenditure (now approximately £36,000). It is hoped that this level of reserve gives sufficient capacity for the church to respond flexibly to a sudden drop of income or unexpected demands on the church resources. |
| At the year end the general free reserves (excluding fixed assets) stood at £260,991 (2020 - £257,500), therefore is well in excess of the minimum required. |
| The Trustees are satisfied that no additional actions or considerations are necessary in the context of the reserves at this point in time. The level of reserves will continue to be kept under review to ensure they are appropriate to our needs. |
Deficit |
| The Trustees remain mindful of the deficit and have taken steps to reduce it with marked success, contributed to by the absence of a paid Minister for the initial nine months of the financial year. A new Minister was appointed in January 2021. However, due to the impact of Covid and the restrictions on church building opening and the resulting reduction in income, a balanced budget was not achieved by the end of 2021. |
| The Trustees continue to set the target of producing a balanced budget by the end of the financial year 2021/2022. Quarterly budget reviews by the Budget Team take place in order to continue to address the deficit. |
| The relinquishing of the Broad Street lease, while initially adding to the deficit due to the associated fixed asset costs requiring writing off to the SOFA, has also helped reduce expenditure and further assist in the reduction of the deficit. |
STRUCTURE, GOVERNANCE AND MANAGEMENT |
Governing document |
Tabernacle Baptist Church Wolverhampton is registered as a charitable company limited by guarantee and was set up by a Memorandum of Association on 11 November 2010 and was registered as a charity on 25 January 2011. |
Charity constitution |
The church existed as a place of worship in the area since 1908 under the name Tabernacle Baptist Church and stood as an unincorporated charity until the church body agreed to transfer into a charitable company limited by guarantee due to a change in government legislation regarding Charities Law. |
The principal object of the charity is the advancement of the Christian faith according to the principles of the Baptist denomination and the charity may also advance education and carry out other charitable purposes in the United Kingdom and/or other parts of the world. |
Methods of appointment or election of Trustees |
| The Trustees are elected from the Church membership by resolution at the Church Members Meeting. The Trustees are also the Deacons of the Church. In addition, the Minister of the Church serves as a Trustee ex-officio. |
| There must be a minimum of 3 Trustees. The Trustees (with the exception of the Minister) serve for a 3-year term and at the end of that term must retire but may be eligible for reappointment for one further term. A close family member of a serving Trustee shall not be eligible for appointment as a Trustee. |
Organisational structure and decision-making policies |
| The Trustees have legal responsibility for the church. Decisions relating to the appointment and removal of the Minister, the appointment and removal of Trustees, decisions relating to land and building of the church, the administration of the Membership List and the closure of the church must be referred to the Church Meeting which has primary authority on these matters. |
Tabernacle Baptist Church Wolverhampton (Registered number: 07437171) |
Report of the Trustees |
for the Year Ended 31 March 2021 |
STRUCTURE, GOVERNANCE AND MANAGEMENT |
Financial risk management |
The Trustees have assessed the major risks to which the charity is exposed, in particular those related to the operations and finances of the charity and are satisfied that systems and procedures are in place to mitigate exposure to the major risks. |
Approved by order of the board of trustees on |
Independent Examiner's Report to the Trustees of |
Tabernacle Baptist Church Wolverhampton |
Independent examiner's report to the trustees of Tabernacle Baptist Church Wolverhampton ('the Company') |
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2021. |
Responsibilities and basis of report |
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act'). |
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act. |
Independent examiner's statement |
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe: |
1. | accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or |
2. | the accounts do not accord with those records; or |
3. | the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or |
4. | the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)). |
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. |
Mr Craig Alan Beale |
FCCA |
Lewis Smith & Co. |
Chartered Certified Accountants |
The Old Doctor's House |
74 Grange Road |
Dudley |
West Midlands |
DY1 2AW |
3 December 2021 |
Tabernacle Baptist Church Wolverhampton |
Statement of Financial Activities |
for the Year Ended 31 March 2021 |
31.3.21 | 31.3.20 |
Unrestricted | Restricted | Total | Total |
funds | funds | funds | funds |
Notes | £ | £ | £ | £ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies | 3 |
Other trading activities | 4 |
Investment income | 5 |
Total |
EXPENDITURE ON |
Charitable activities | 6 |
Total |
NET INCOME/(EXPENDITURE) | ( | ) | ( | ) | ( | ) |
RECONCILIATION OF FUNDS |
Total funds brought forward |
TOTAL FUNDS CARRIED FORWARD | 997,368 |
Tabernacle Baptist Church Wolverhampton (Registered number: 07437171) |
Balance Sheet |
31 March 2021 |
31.3.21 | 31.3.20 |
Unrestricted | Restricted | Total | Total |
funds | funds | funds | funds |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 13 |
CURRENT ASSETS |
Debtors | 14 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 15 | ( | ) | ( | ) | ( | ) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PENSION LIABILITY | (46,346 | ) | - | (46,346 | ) | (50,791 | ) |
NET ASSETS |
FUNDS | 16 |
Unrestricted funds | 992,440 |
Restricted funds | 4,928 |
TOTAL FUNDS | 997,368 |
| The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2021. |
| The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2021 in accordance with Section 476 of the Companies Act 2006. |
| The trustees acknowledge their responsibilities for |
| (a) | ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and |
| (b) | preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company. |
Tabernacle Baptist Church Wolverhampton (Registered number: 07437171) |
Balance Sheet - continued |
31 March 2021 |
These financial statements have been prepared in accordance with and delivered in accordance with the special provisions to small charitable companies subject to the small companies regime. |
The financial statements were approved by the Board of Trustees and authorised for issue on |
Tabernacle Baptist Church Wolverhampton |
Notes to the Financial Statements |
for the Year Ended 31 March 2021 |
1. | GENERAL INFORMATION |
Tabernacle Baptist Church Wolverhampton is a charitable company registered and domiciled in England. Its principal activity is to operate as a Christian church. Its registered office is Tabernacle Baptist Church, Dunstall Road, Wolverhampton WV6 0NJ. |
Company Status |
The charity is a company limited by guarantee. The members of the company are the membership of the church. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity. |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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 (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. |
The presentation currency of the financial statements is the Pound Sterling (£), rounded to the nearest £. |
Critical accounting judgements and key sources of estimation uncertainty |
| Estimates and judgments are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. |
| Critical accounting estimates and assumptions: |
| Multi-employer defined benefit pension scheme - the charity has an obligation to pay a deficit funding arrangement in respect of a multi-employer defined benefit pension scheme (Baptist Pension Scheme). The present value of the obligation depends on a number of factors including the RPI rate and the discount rate on corporate bonds. Management estimates these factors based on guidance from the Baptist Pensions, in determining the new pension obligation in the balance sheet. |
Income |
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 on receipt. |
Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation. |
Expenditure |
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to the activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset's use. |
Tabernacle Baptist Church Wolverhampton |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2021 |
2. | ACCOUNTING POLICIES - continued |
Expenditure |
Support costs are those costs incurred directly in support of expenditure on the objects of the charity. Governance costs are those incurred in connection with administration of the charity and compliance with constitutional and statutory requirements. |
All expenditure is inclusive of irrecoverable VAT. |
Tangible fixed assets |
| All tangible fixed assets costing more that £1,000 are capitalised. |
| A review for impairment of a fixed asset is carried out if events or changes in circumstances indicate that the carrying value of any fixed asset may not be recoverable. Shortfalls between the carrying value of fixed assets and their recoverable amounts are recognised as impairments. Impairment losses are recognised in the Statement of financial activities incorporating income and expenditure accounts. |
| Tangible fixed assets are carried at cost, net of depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following bases: |
| Freehold property | - over 50 years on a straight-line basis |
| Short-term leasehold property | - over the shorter of the period remaining on the lease and the expected useful life |
| Fixtures and fittings | - over 4 or 5 years on a straight-line basis (or over the term of the lease if this is shorter) |
Taxation |
| The charity is exempt from corporation tax on its charitable activities. |
Fund accounting |
| General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objective of the charity and which have not been designated for other purposes. |
| Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund are set out in the notes to the financial statements. |
| 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 costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund are set out in the notes to the financial statements. |
Pension costs and other post-retirement benefits |
The Church operates two defined contribution pension schemes, the Baptist Pension Scheme for the minister and a NEST scheme for all other staff. The pension charge represents the amounts payable by the Church to the fund in respect of the year. |
Tabernacle Baptist Church Wolverhampton |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2021 |
2. | ACCOUNTING POLICIES - continued |
Pension costs and other post-retirement benefits |
Prior to 2012, pension provision for the Baptist Pension Scheme was made through a multi-employer defined benefit pension plan. Where it is not possible for the employer to obtain sufficient information about its share of the underlying assets and liabilities of the defined benefit pension plan it is accounted for as a defined contribution plan. Where the plan is in deficit and the Church has agreed, with the plan, to participate in a deficit funding arrangement, the church recognises a liability for this obligation. The amount recognised is the net present value of the contributions payable under the agreement that relate to the deficit. This amount is shown as an expense in the Statement of Financial Activities. The unwinding of the discount is recognised as a finance cost. A liability for the agreed pension scheme deficit plan of the Baptist Pension Scheme has been included based on the current Schedule of Contributions. |
Operating leases |
| Rentals paid under operating leases are charged to the Statement of financial activities on a straight-line basis over the lease term. |
| Interest Receivable |
| 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 institution which whom the funds are deposited. |
| Debtors |
| Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid. |
| Cash at bank and in hand |
| Cash at bank and in hand includes cash and short-term liquid investments with a short maturity of 3 months or less from the date of acquisition or opening of the deposit or similar account. |
| Liabilities |
| Liabilities and provisions are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. |
| Liabilities are recognised at the amount that the charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide. |
| Provisions are measured at the best estimate of the amounts required to settle the obligation. |
| Financial Instruments |
| The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value. |
Tabernacle Baptist Church Wolverhampton |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2021 |
3. | DONATIONS AND LEGACIES |
31.3.21 | 31.3.20 |
£ | £ |
Donations |
4. | OTHER TRADING ACTIVITIES |
31.3.21 | 31.3.20 |
£ | £ |
Books sold | - | 161 |
Other income | - | 881 |
5. | INVESTMENT INCOME |
31.3.21 | 31.3.20 |
£ | £ |
Lettings |
Bank interest recieved |
6. | CHARITABLE ACTIVITIES COSTS |
Direct | Support |
Costs (see | costs (see |
note 7) | note 8) | Totals |
£ | £ | £ |
Ministry | 6,870 | 116,443 | 123,313 |
Mission | 17,115 | - | 17,115 |
23,985 | 116,443 | 140,428 |
Tabernacle Baptist Church Wolverhampton |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2021 |
7. | DIRECT COSTS OF CHARITABLE ACTIVITIES |
31.3.21 | 31.3.20 |
£ | £ |
Trustees' remuneration etc | 6,743 | - |
Manse upkeep | 327 | 144 |
Church ministries | 33 | 5,657 |
BMS world mission | 1,980 | 1,980 |
Home mission fund | 6,000 | 6,000 |
Overseas mission fund | 3,600 | 5,700 |
Designated gifts | 5,302 | 5,674 |
23,985 | 25,155 |
8. | SUPPORT COSTS |
Governance |
Management | costs | Totals |
£ | £ | £ |
Ministry | 112,543 | 3,900 | 116,443 |
Support costs, included in the above, are as follows: |
31.3.21 | 31.3.20 |
Total |
Ministry | activities |
£ | £ |
Wages | 23,400 | 27,811 |
Social security | (3,327 | ) | - |
Pensions | 702 | 5,031 |
Stationery and office costs | 3,913 | 2,856 |
Hire of equipment | 674 | 964 |
Conferences and training | - | 1,564 |
Professional fees | 4,758 | 2,105 |
Upkeep of church premises | 12,765 | 16,816 |
Maintenance of premises and equipment | 13,411 | 42,788 |
Car parking payments | - | 600 |
Rent | 250 | 1,621 |
Depreciation of tangible and heritage assets | 18,503 | 26,804 |
Loss on sale of tangible fixed assets | 37,494 | - |
Independent examiners fees | 3,900 | 5,856 |
116,443 | 134,816 |
Tabernacle Baptist Church Wolverhampton |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2021 |
9. | NET INCOME/(EXPENDITURE) |
Net income/(expenditure) is stated after charging/(crediting): |
31.3.21 | 31.3.20 |
£ | £ |
Depreciation - owned assets |
Deficit on disposal of fixed assets |
Independent examiners fees | 3,900 | 5,856 |
10. | TRUSTEES' REMUNERATION AND BENEFITS |
31.3.21 | 31.3.20 |
£ | £ |
Trustees' salaries |
Trustees' pension contributions to money purchase schemes |
During the year a trustee has been paid remuneration from employment with the charity. Ministers at Tabernacle Baptist Church are considered to be trustees ex officio and are permitted by the articles of association. The value of trustees remuneration by employee was as follows: |
31.3.21 | 31.3.21 |
Trustee | Details | £ | £ |
Pastor Richard Skinner | Remuneration | 6,281 | - |
Pension contributions | 462 | - |
6,743 | - |
Trustees' expenses |
| There were no trustees' expenses paid for the year ended 31 March 2021 nor for the year ended 31 March 2020. |
11. | STAFF COSTS |
31.3.21 | 31.3.20 |
£ | £ |
Wages and salaries |
Social security costs | ( | ) |
Other pension costs |
27,518 | 32,842 |
Tabernacle Baptist Church Wolverhampton |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2021 |
11. | STAFF COSTS - continued |
The average monthly number of employees during the year was as follows: |
31.3.21 | 31.3.20 |
Administration | 1 | 1 |
Premises | 1 | 1 |
A new Pastor (Richard Skinner) was employed from January 2021 but as this only covers three months of the year it is not shown in the above list. |
Key Management Personnel |
In the year, the total aggregate costs relating to key management personnel (which includes employers national insurance and pension contributions) were £6,743 (2020 - £Nil). |
Key management personnel are considered to be trustees only. |
12. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES |
Unrestricted | Restricted | Total |
funds | funds | funds |
£ | £ | £ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies |
Other trading activities |
Investment income |
Total |
EXPENDITURE ON |
Charitable activities |
Total |
NET INCOME/(EXPENDITURE) | ( | ) | ( | ) |
RECONCILIATION OF FUNDS |
Total funds brought forward | 1,026,971 | 4,928 |
Tabernacle Baptist Church Wolverhampton |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2021 |
12. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued |
Unrestricted | Restricted | Total |
funds | funds | funds |
£ | £ | £ |
TOTAL FUNDS CARRIED FORWARD | 992,440 | 4,928 | 997,368 |
13. | TANGIBLE FIXED ASSETS |
Fixtures |
Freehold | Short | and |
property | leasehold | fittings | Totals |
£ | £ | £ | £ |
COST |
At 1 April 2020 |
Disposals | ( | ) | ( | ) |
At 31 March 2021 |
DEPRECIATION |
At 1 April 2020 |
Charge for year |
Eliminated on disposal | ( | ) | ( | ) |
At 31 March 2021 |
NET BOOK VALUE |
At 31 March 2021 |
At 31 March 2020 |
| Freehold property includes the church building and the Manse. The properties are held in trust on behalf of the church by the Heart of England Baptist Association. |
14. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.21 | 31.3.20 |
£ | £ |
PAYE and NI debtor | 4,338 | 1,236 |
Prepayments and accrued income |
Tabernacle Baptist Church Wolverhampton |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2021 |
15. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.21 | 31.3.20 |
£ | £ |
Trade creditors |
Other creditors |
Accruals and deferred income |
16. | MOVEMENT IN FUNDS |
Net |
movement | At |
At 1.4.20 | in funds | 31.3.21 |
£ | £ | £ |
Unrestricted funds |
General Reserve Fund | 257,500 | 3,491 | 260,991 |
Tangible Fixed Asset Fund | 734,940 | (56,665 | ) | 678,275 |
(53,174 | ) |
Restricted funds |
Youth Work Fund | 4,928 | 1,022 | 5,950 |
TOTAL FUNDS | (52,152 | ) | 945,216 |
Net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General Reserve Fund | 87,254 | (83,763 | ) | 3,491 |
Tangible Fixed Asset Fund | - | (56,665 | ) | (56,665 | ) |
( | ) | (53,174 | ) |
Restricted funds |
Youth Work Fund | 1,022 | - | 1,022 |
TOTAL FUNDS | ( | ) | (52,152 | ) |
Tabernacle Baptist Church Wolverhampton |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2021 |
16. | MOVEMENT IN FUNDS - continued |
Comparatives for movement in funds |
Net | Transfers |
movement | between | At |
At 1.4.19 | in funds | funds | 31.3.20 |
£ | £ | £ | £ |
Unrestricted funds |
General Reserve Fund | 291,398 | (7,727 | ) | (26,171 | ) | 257,500 |
Tangible Fixed Asset Fund | 735,573 | (26,804 | ) | 26,171 | 734,940 |
1,026,971 | (34,531 | ) | - | 992,440 |
Restricted funds |
Youth Work Fund | 4,928 | - | - | 4,928 |
TOTAL FUNDS | 1,031,899 | (34,531 | ) | - | 997,368 |
Comparative net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General Reserve Fund | 125,440 | (133,167 | ) | (7,727 | ) |
Tangible Fixed Asset Fund | - | (26,804 | ) | (26,804 | ) |
125,440 | (159,971 | ) | (34,531 | ) |
TOTAL FUNDS | 125,440 | (159,971 | ) | (34,531 | ) |
A current year 12 months and prior year 12 months combined position is as follows: |
Net | Transfers |
movement | between | At |
At 1.4.19 | in funds | funds | 31.3.21 |
£ | £ | £ | £ |
Unrestricted funds |
General Reserve Fund | 291,398 | (4,236 | ) | (26,171 | ) | 260,991 |
Tangible Fixed Asset Fund | 735,573 | (83,469 | ) | 26,171 | 678,275 |
1,026,971 | (87,705 | ) | - | 939,266 |
Restricted funds |
Youth Work Fund | 4,928 | 1,022 | - | 5,950 |
TOTAL FUNDS | 1,031,899 | (86,683 | ) | - | 945,216 |
Tabernacle Baptist Church Wolverhampton |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2021 |
16. | MOVEMENT IN FUNDS - continued |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General Reserve Fund | 212,694 | (216,930 | ) | (4,236 | ) |
Tangible Fixed Asset Fund | - | (83,469 | ) | (83,469 | ) |
212,694 | (300,399 | ) | (87,705 | ) |
Restricted funds |
Youth Work Fund | 1,022 | - | 1,022 |
TOTAL FUNDS | 213,716 | (300,399 | ) | (86,683 | ) |
Fund Descriptions: |
Designated Fund |
The Tangible Fixed Asset Fund represents the net book value of the tangible fixed assets. |
Restricted Funds |
The Youth Work Fund represents donations towards the hiring of and salary of a new youth worker or, in the event of no appointment is made, for wider youth work. |
17. | RELATED PARTY DISCLOSURES |
| Six (2020 - Five) trustees made aggregate donations of £7,797 (2020 - £10,554) without condition. These amounts include no gift aid thereon. |
| Under the terms of the articles of association, the senior and associated misters, who act as trustees ex-officio, are permitted to receive remuneration. This has been disclosed in note 10. |