HEBA The Hedriof EnBland Bapb'SlAjllation ANNUAL REPORT AND FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2021 The Heart of England Baptist AsSocIaOn Registered Charity Number.. 1080529 Registered Company Number.. 00238738 Registered Offi. 480 Chester Road, Sutton Coidfield B73 5BP
THE HEART OF ENGLAND BAPTIST ASSOCIATION REPORT OF THE TRUSTEES YEAR ENDED 31 DECEMBER 2021 CONTENTS Page Report of the Trustee5 Independent Auditors Report 9-12 Statement of Financial Activities 13 Balance Sheet 14-15 Staternent of Cash Flows 16 Notes to the Financial Statements 17-43 Appendix l- Grants paid Appendix 2- Properties held as custodian or holdtng Trustee
THE HEART OF ENGLAND BAPTIsf ASSOCIATION REPORT OF THE TRUSTEES YEAR ENDED 31 DECEMBER 2021 The Trustees, who are directors for the purrM)ses of company law, are pleased to present the Annual Report and Financial Statements of the charitable company for the year ended 31 Dember 2021, which are prepared to meet the requirements for è Direttor'5 Report and accounts for Companies Act purposes. References to'HEBA' throughout this report refer to The Heart of England Baptist Assoaation. The finanaal statements comply with the Charities Act 2011, the Companles Art 2006, the Articles of Association and 'Accounting and Reporting by Charities: Statement of Recommended Prartice applicable to charibes preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS102 effective l January 20191., Objectives and Activities The Objects of this charitsble company are the advancement of the Christian faithi p3CularlY in the Heart of England and especially by the means of and in accordan with the principles of the Baptist denomination as set out for the time being in the DedaratTh of Prinaple ofThe Baptist Union of Great Britain (BUGBI. The values espoused by the Trustees of the charltable company are Companionship, Generosity, Diversity, Learning and Innovation. These values are continually presented to churthes for their encouragement and so that they understand the principles guiding the w(>rk of the charitable company. The values are presented at events to which thurthes are invited, through the regular mailings to churches, through the work of the HEBA office team and Regional Ministers and on the Trustees, sooal media oudets and channels. The principal activities of the charitsble company are the employment of a Regional Mlnlstry and administrative staff team and the organitIon of a number of volunteers, worlang in groups or indiwdually, to offer support and guidan, training and financial resources to advance the Christkan faith in a way which benefits Baptist churche5 and the communities they serye. The charitable company is part of the kmilyof Baptist organlsalons servlng the needs of many of the Baptist churches in Great Britain, worknng particularly do*ly wilh the Baptist Union of Great Britain and BMS Wortd Mission. The charity has a linked charity, the Heart of England Baptist Association Loan Fund 11080529-1} and the Trustees are also Trustees of the Umberslade Church Endowment 1255061) and Directors of The Corporate Trustee Limited (11454313). The charitsble company aims to.. Co-operate with churches diredy and through working groups by passing aFpropriate resolutions to enable building development projects, including the provision of grants and loans, including Sustainable Energy Funding. Many of these projects are directty aimed at making church buildings more accesgble and available to the lo(al community. Assist churches and ministers that are seeking new nlnlstrles through the National Settlement prOs. Assist individuals who a exploring a call to any Baptist ministy by signposting various routes to recognised Baptist ministry, intemewing candidates, supporting Minial candidates and providing BUGB apwoved training for preachers and pastors. Make Safeguarding training available on a rolling programme, encouraging and enabling mlnisters and members of churches to re1ve training. This induded the of SLJPPC>rted online trnining during this year. Provide Safeguarding support to churches when incidentslsuspected incidents arise. Mediate disagreements arising within churches or between churches and their local community. Encourage the HEBA Grants Committee as it continues to seek creative ways of supporting churd)es in their mission using Baptist Home Mission and Association funds. Ensure, through its Finance Workn'ng Group, responsible and effective stewardship of the resources of the charitable company. Encourage churches to support Baptist Home Mission and BMS Wodd MissK)n through prayer, direct partnershlp with mission personnel and finanaal gifts, so that the Gospel of ksus Christ can continue to be shared in the UK and aÈfoad. Co-operate with other Baptist organisations and other denominati)ns where this supports the objects of the Assoclation. Page I
THE HEART OF ENGLAND BAPTisf ASSOCIATION REPORT OF THE TRUSTEES (CONTINUED) YEAR ENDED 31 DECEMBER 2021 Receive and consider pOrts from all wor.ng Groups and the Regional Ministers, enabling the charitable company to maintsin effective govemance, including reIving reports on the staff appraisals, budget proposaLs, safeguarding issues and other work with thurches as appropriate. SUp)rt the staff employed by the charitsble company through the provIon of appropriate training and supptsrt, and provision of clear and effective staffing and (>ther policies. Seek appropriate and timely gaI adviTr on issues having a potentially wide-ranging effect with a view to understanding and, where posgble, mitigating their risk. Continue to explore ways in which the Trustee board can beco even mre effethve in goveming the charstable company and in their strategic planning. Sorne of thi5 work was Patdy or severely affected by the COVID-19 pandemic. However, these condiknons also provided an opportunity for a different way of siaff working and holding meetings which will continue into the future. Public Benefit The Trustees, having regard to the Charity Commission's guidance document,'public benefit.. running a charity IPB2)', continued to provide public benefit by seekj'ng to advan the Christian faith and rxactl in accordan with the Objects of the charitable company. The Trustee5 sought to achieve this in several ways induding: advising and supporbng churches as they sought to manage the effects of the COVtD-19 pandemK and lockdown so that nEmbers and visthrs could be kept re in churches. encouraging churches to adopt robu safeguarding pole$ and practi through the prowsion of tralnbng for church members, ministers and pastors. keeping appropriate Safeguarding records, induding docuents kept in long-terrn secure systems. acting to provide help and support to churches 5eeknng to improve their own governan1 projects or buiklings. holding staff accountable for their support for churches seeking tr) advance the Christian faith in their communities. funding - in partnership with other organis3b.ons the continued proigon of a Baptist nYnister for deaf and deafened people in Stsfford. encouraging churd)es and Ministe through the annual Ministers, Conferen, theological ectIOn daysi interaction with regional ministry staff and themes pursued at all joint events, to engage effectively and serve their local communitie5. Achievements and Performance The Trustees supwrt thelr Reglonal Ministry team in their work through the provisN)n of alstan in housingi in training and in permitb.ng them to take sabbatical leave. One Regional Minister {RM), Revd lson Mackay, returned to church ministry early in 2021. The Trustees and remaining Regional Ministers reviewed the provision of Regional Ministry SUPFQrt during the year and declded to contlnue working wjth a team of three Rms for the time Ing due to financial constraints. The Administration Team continued to work from home for much of the year due to the ongoing risk from the coronavirus p3ndemic. This proved suth a successful way of workn'ngi that it was agreed to trial hybrid working, with Admin staff attending the OfFI for one day a week only. The Trustees also continued to encourage online trainingi meetings and cofiferen, Includlng a Ministers, conferen attended by over LOO people a second successful WonEn's nferen. The Trustees were given notice to leave their offi5 in Selly Oak by the landlord by the end of 2021. They apptsinted a wrch team that successfulty identified a new registered Offi for the ltssociation at 480 Chester Road, Sutton Coldfield. The Trustees were grateful to the Administration Team and some hardworkiryJ volunteers for their efforts which meant that the move in December went smoothly. Though initially a rentsl aoreement was put in place, the Trustees have since used the proceeds from the sale of two houses to fund the purchase of the new accommodation and moving costs during 2022. Page 2
THE HEART OF ENGLAND BAPTIST ASSOCIATION REPORT OF THE TRUSTEES (CONTINUED) YEAR ENDED 31 DECEMBER 2021 The Trustees and staff team continued to support (with partners) the ministry of Revd Susan Myatt, Baptist Minister Amongst the Deaf, financially and through prayer. They also encouraged and contributed towards the toduCtion of BSL interpretr.ng for the Baptt Union 5 safeguarding training video. The Regional Ministers (Rms) worked with churches and ministers as they sought new ministry or to change ministry meeting with churches and minister5 online for most of the year. They al helped churches with internal conflicts, offering mediation and comfort to rnembers and ministers. The HEBA justi Hub continued to support the three tssk groups, encouraging the use of website and social-media spaS that the Trustees had made available for this purpose. A significant amount of staff and volunteer time was taken up with managing house5 rented out by the Tiustees, and preparing those houses for sale at the end of tenancies. The charbtsble companyi through its Regional Ministe, contfnued to support ecumenical work acT05S the whole area of the Associatyon, as well as national Baptist events and organisations, for example, all RMS serve on ecumeni(al b[leS in the region during the year. The charitable company, through its Ministerial Recognition Group, Interviewed 7 prospective ministerslpastors, authorising book grants to several ministerial students and had contstt with all Newty Accredited Minister5 and their Mentors in HEBK Online Symposiums were muth appreciated by the ministers and thurth leaders that attended. The charitable company continued to model an organisational culture which prioritises safeguarding through their encouragement and support of churches to provide a safe and trusted environment for all those they come into contact with, particularly children, young people and Adults at Risk This invtslved encouraging churches to Use the training made available online by the Bapti# Union and providing a 'Q&A' to consolidate that learning. During 2021, the charitrdble company provided safeguarding training for 329 individuals, of which 56 were ministers or pastors, these people coming from 71 churches and organisations. Support and signposting was provided for thurches and mlnlsters experienang a safeguardlng Inddenl including the managenEnt of offenders in church enwronments. Revd DurKan MacLean setved as Trustee for Safeguardlng and Keith Baldwin continued to serve as Safeguarding Offir. The charitable company, through its Grants Committee provid grants tr> churches and projects to a value of £264,835 using both Baptist Home Mission and Association funds. This Includes grants towards sabbatical studies for ministers in the A550aation. The charitsble companyi through its Finan GroupA ensured that all funds were being held and spent apprO[rately. They reviewed budgets, spending and investments and met with the Investment Managers. The charltsbie company's book-keeping and account-production *NKes to rnber churches continued, and at the end of the year had produced accounts for one church and was undertaking book-keeping for three churche5. The Payroll Service offered to churche5 and projects also continued, and at the end of the year, payroll services we being undertaken for 60 churcheslprojects {93 indNiduals). The charitable company, through its Trust Working Group (TWG}, gave consideration and practical assIstsn to around 30 d)urd)es involved in.. building purchase, disposal and development,. changing their legal structure and amending their governing instruments. It continued to Dffer svpport to churches with dilapidated 181 grounds. The transcription of the church trusts details into electronic form was not tompleted during 2021 ¢Jue to lack of capacity, The charitsble company completed the following of its ptsn5 for the year.. locatlng a new office base the Associatitsn. reviewing and implementing new worknng patterns with administrative staff depending Governmentadvice relating to the COVID-19 pandemic and the outcome of the review. remewing the workload of the Regional Ministers following the decrease In thr number from four to three Page 3
THE HEART OF ENGLAND BAMST ASSOCIATION REPORT OF THE TRUSTEES (CONTINUED) YEAR ENDED 31 DECEMBER 2021 completing the Review of upjated Governlng documents of the charitable companyi which would be adopted at an in-person AGM in 2022. reUltIng two new Trusiee5, who would take up their tX15itions early in 2022. Ctinuing to implement outcomes of the Board Review, including further use of the &)vernance W1 to improve Board effectiveness and efficiency. agreeing strategic priorities and developing and implementiro a strategic plan. encouraging the HEBA Justice Hub and task groups. undertaking more Trustee training andlor study days for Trustees. Risk Review The charitable company continued to rewew its Risk Management Matrix at least three times a year. The full migration of rr seNtrs to the cloud was helpful to stsff working from home and also reduced the risk posed by having all bad< p recording on hardware. Significant risks identified during the year were.. The possibility of incidents or accidents in dilapidated burial grounds where the charitable company is holdlng Trustee remains an ongoing concern. Censure arising from a failure to properly implement the requirements of the General Data Protection Regulations has been identified as a risk to the charitable company. The charitable company sought legal assiStsn in produong a t of updated Dats Protection and privacy doajments and the Company Secretary continually reminds Trustees, staff and volunteers of their responsibilities in order to mitigate these risks. Having said that, one data breach was reported to the Information Commis%oner during the year. The ICO made recommendations, all of which were implemented. The risk of reputstional damage to the Gospel, the charitsble company and the Baptist movement arising from a safeguarding incent in a church remain5 high and is a driving frdctor behlnd the charltsbk company's investment in safeguarding training for church ministers and members. staff turnover and inability to replace key staff. Financial Review During 2021 the overall funds tsf the Association decreased by £42,960 to £3,193,2871£3,236,247 in 2020). General fund income was £297,080. ExFenditure totalled £347,410 resulting in a loss of £50,330. Net gains on investment assets totslled £180,035. The General Fund at the yearnd was £1,013,193. The Net Movement on Deggnated Funds was £153,957 ex$5 of expenditure over income. This was primarily due to the ongoing use of the Misson tkvelopment Fund for grants to church and other mission projects. At the year end the totsl balance of designated funds was £765,665. other incorne and expenditure in the Restrirted Funds primarity relate5 t(> income and expendittjre for the Retired Ministers and Missionaries Housing Fund and Atch Lench Bapti5tTrust expendoiure for mission. Interest is not charged i)n loans, but churches will be asked to give a thank-offering at the e[ of the loan period to kElp maintain the real value Df the fund. The net movement across the restritted fijnds was £18,708 At the year end the balance across the restricted funds was £1,414,429. The Association is part of a very complex multi-employer defined nefit pension scheme comprising approximately 1,200 employers. See Note 26 in the Financial Ststements. Investment powersi pollcy and performance The Trustees have appointed Redmayne Bentley as Investment Managers for the Association's investment portfolio. The managers have discretionary powers tc> invest in line with the Investment Policy which is classed as medium risk and alms for moderate growth in income whilst at least maintaining capital values over the medium to long term. Page 4
THE HEART OF ENGLAND BAPTIsf ASSOCIATION REPORT OF THE TRUSTEES (CONTINUED) YEAR ENDED 31 DECEMBER 2021 Reflecting the ethos of the Associats'on, an ethical investrnent policy is in place to guide the investment manager. ThFs focuses on positive aspects such as good governan and good working praCtiS as well as exduding settors which do not fit with the A550ciation's ethos. Durlng the year, the prfolio retum Itotsl rebJrn basis) in(Teased by 2.15%, against the portfolio benchmark retum, which increased by 3.35%, The Association continued to maintsin balanS on notitr and term depDSits, Most of these funds represent balan held on behalf of churches where minirnal capital risk 15 IPortant ReseThe5 policy The Trustees con%der a reserve of one year's costs is required to ensure a managed exit from all existing agreements nd contrarts. One yeai's costs is the total general fund expenditure excluding one off events and including one year of grant funding from the Assoaation 5 own reSoUrS {£0.178ml, where grants are expected to be needed beyond the current year. This latter is tt) reflett commitments, often staff related, which have been entered into by grant receiving churches. On this basi5 reserves of £0.526m are required. Excluding fixed a55ets and restrKted funds the Association's free reserves were £0.640 giving cover of 1.2 times. The increase in cover of rerves from 0.4 is the result of the sale of two fixed asset properties in 2021 the prOed5 of which Trustees have agreed wlll fund the purchase of new Offi accommodation in 2022, therefore this rate of cover 15 experted to reduce for 2022. Plans for future periods During 2022, the charitsble company will seek to continue to fulfil its objetts in creative ways that will assst in the advanment of the Christian faith and the enrichment of church and community life in the Heart of England. Thls will indude.. moving the Association Office and purchasing a propeity. undertaknng rearch to establlsh the resonance of the strategic priorities, values etc with the member thurche5. undertaking tralnlng In data protection and reviewing policies and procedures. undertaking tralning in Equality, Dlversity and Inclusion. sldlng an AGM and adoptlThJ new Artides. structure, Governanc4 Management The charitable cornpany Is governed by its Articles of Association and Rules of 16 June 2012. These have been reviewed by the Trustees and their legal advisors during 2020 and updated Artides were presented to the members and adopted during 2022. The Objects of this charitable company are the advanMert of the Christian faith¢ particularly in the Heart of Engknd and especially by the means of and in accordance with the principles of the Baptist denomination as set out for the tlme being in the Dedaration of Principle of The Baptist Union of Great Britain. Trustees, Interests No Trustee had any benefal interest in the charitsble company or in any contrart or arrangement of a material nature with the charitable company during the year under revlew. Declarations of Loyalty and Interest are required at the stsrt of every meeting of Trustees and Worknng Groups and the Association Adnlnistrator also asks Trustees to update their written Declaraoons of Loyalty and Interest on an annual basis. Recruitment, appolntmen( induction and tralning of Trustees The charitable COpanY is run by its Board of Trustees who are also directors. They held five meetings during 2021: the were online because of the coronavirus pandemic. Page 5
THE HEART OF ENGLAND BAPTIST ASSOCIATION REPORT OF THE TRuEE5 (CONTINUED) YEAR ENDED 31 DECEMBER 2021 The Trustees use their Skills Audit in the pro55 of (rUitIng new members of the board. Trustees are recruited through invitstions to member churches to nonate people whom they believe to be appropriate for the tssk. Nomlnees are sent copies of the charitable company's Article5 of A5SOCiation and its Conflict of Loyalty and Interests policy and are asked to complete and sign the Deckration of Qualification to serve as a Trustee. They usually have a meeting with the Moderator of the Board of Trustees and are advised that appropriate checks will be undertaken to confirm that they are ellgible to serve in this capaaty. If, after this, they still wish to serve, the churches of the Associab'on are invited to affirm the nominees by email or letter to the Administratorlcompany Secretary. On appointment, they are invited to a fomal indurtion meeting with the Adrninistratorlcompany Secretary who signposts essential doojments available from the Charity Commission, Companies House and BUGB websites, as well as providing an overview of the actiwtie5 of the chartsble company. The Association Administrator who is also the Company Secretary assisted all Trustees by signposting documents and conferenTrs to help them in their work. This indudes circulating Information from the (arity Commission, Q>mpanies Hou*, some third sector organisations and the Churthe5' Legislation Adwsory ServKe, and advising them of seminars and training that they could attend. The Trustees confjnued to work on updating the Staff Handbook with support from AC4S, Cornerstone Re9)urces and the Baptist Unlon as approprlate. They undertook online training in dealing with Grievan and Discipline stuations led byAW. Trustees at 31 December 2021 The Moderator and Treasurer are elected annually by the members of the Assoaation. The Revd Duncan MacLean Moderator Mr Ed0 Rye Treasurer The Revd Adrian Argile Reg¥)nal Minister- Team Leader The Revd Glenford Gordon Mrs Joanne Green (23 Apdl 20201 Mrs Judith Miller The Revd Dr Edward Plllar Mrs Doreen Walker Affirmed by the members of the charitable company Affirmed by the member5 of the charitable company Affirmed by the members of the charitable company Affirmed by the members of the charitable company Affirmed by the members of the charitable company Appointed during the course of the year None Retlred durlng the course of the year The Revd Neil Bennett until 5 August 2021 Association Information Registered Charity Number 1080529 Re9iStered Company Number 00238738 Registered Office 24 Weoley Park Road, Blmilngham, B29 6QX Other Office Hdders Company SecretarylAdministrator MIS5 Karen Martindale Page 6
THE HEART OF ENGLAND BAPTIST ASSOCIATION REPORT OF THE TRUSTEES (CONTINUED) YEAR ENDED 31 DECEMBER 2021 Regional Ministers serving the Assoclab"on durbng 2021 The Revd Adrian Argile The Revd David Ellis The Revd Alig)n Mackay (to 3 January 2021) The Revd Neil Le Tisse Legal Advisors DWF LLP, One Snowhill, Snow Hlll Queensway, Birmingham, B4 6GA Surveyorlvaluer Shaw Gilbert & Froggatt 4 Warstone Parnde East, Warstone Lane, Birmingham, B18 6N Auditor MHA Mactntyre Hudson, Rudund House, 148 Edmund Street, Bimiingham, B3 2FD Bankers HSBC Bank plc, 186 Broadway, Didcot, OXII 8RP stockbrokersllnvestment Advisors RedYne-BentleY LLP, 9 Bond Court. Leeds, LSI 2JZ Related Parties The charltsble company Ss a member of the Baptist Union of Great BThtaini paying a subscription tr) this tharity. Fund5 from the Home Mission Fund, which is the prinople won9 fund of the BUGB, are received by the charStstAe company and dispersed by its Grants Group. The Registered offi of the charitable company is in propety owned by BMS World Mi55ion. The charity has a linked charity, the Heart of England Bapbst A5cIatIOn Loan Fund {1080529 -1) and the Trustees are alsoTrustees of the Umberslade Church Endowment (2550611 and Directors of the COrporate Trustee Limited 111454313). Key Management personnel remuneration The d)aritsble cofflpany c(Sider their key management personnel to be: The charitable companys board of Trustees The pay and remuneration of the empk)yees of the charitable company is *t by the charitable company through the Board and its Finance Group and Is based upon the Baptist Home Misskin recomnEnded stipend. Page 7
THE HEART OF ENGLAND BAPTIST ASSOCIATION REPORT OF THE TRUSTEES (CONTINUED) YEAR ENDED 31 DECEMBER 2021 Directors. responsibilities in relation to the financial statements The Trustees (who a alw diTeciors of The Heart of England Baptist knaath?n for the purpcw of company law) are responsible for preparing the Tru5tee5' Annual Report and the financial statements in èccordance with aptlicable law and United ngdoM Accounting Standards (United Kingdom GenwalSy Apted Accounting practi). Company law requires the Trustees to prepare financial statements for each financial year, which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of restsurees, including the income and expenditure, of the charitable company for that r5(Aj. In preparing these financral statements, the Trustees are required to.. selett suitable accounting Policies and then apply them conSisteny. ob*tve the methods and principles in the Charities SORP {FRS 1021; make judgerrEnts and estimates that are reasonable and prudent- State whether applicable UK Accounting Standards have been followed, subject to any material departure5 disclosed and explained in the finanoal statements; and prepare the financial statements on the going conTrrn basis unless it is inappropriate to presume that the ¢haritsble company will continue in operation. The Trustees a respongble for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial rx)gtion of the charitable company and enable them to ensure that the financial statements comply with the Companies Ad 2006. They are also responsible for safeguarding the assets of the charitslle company and hence for taking reasonable steps ft)r the prevenb.on and detecbon of fraud and other irregularities. In 9) far as the Trustees are aware: there Ss no relevant audlt Information of whlch the charltable company's auditor 15 unaware. and the Trustees have taken all step5 that they ought to have iaken to make themselves aware of any relevant audit informab.on and to establish that the auditor is awa of that information Slgned Revd D MacLean Moderator of the Association Page 8
THE HEART OF ENGLAND BAPTIST ASSOCIATION IA Company Lirnited by Guarantee) INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF THE HEART OF ENGLAND BAPTIST ASSOCIATION Opinion We have audrted the financial statements of The Heart of England Baptist Association {the 'charilable companll for the year ended 31 December 2021 which comprise the Statement of Financial A1VilieS, the Balance Sheet, the Statement of Cash Flows and the related notes, including a summary of significant accounting policies. The fi'nancial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Stsndard applicable in the UK and Republic of Ireland. (United Kingdom Generally Accepted Accounting Practice}. In our opinion the financial slalemenls.. give a true and fair view of the slate of the charitable company's affairs as al 31 December 2021 and ol ils incoming resources and application of resources, including its income and expendiluie for the year then ended., have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice., and have been prepared in accordance wi(h the requirements of the Companies Act 2006. Basis for opinion We Conducted our audit in accordance with International Standards on Auditing IUK} IISAS IUKII and applicable law. Our responsibilities under those standards are further described in the Auditors. responsibilities for the audit of the financial slalemenls section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant lo our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate lo provide a basis for our opinion. Conclusions relating to going concern In auditing the financial slalemenls, we have concluded that the Trustees, use of the golng conrn basis of accounting in the preparation of the financial slalemenls is appropriate. Based on the work we have performed, we have not identrfied any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the ¢haritable company's ability lo continue as a going concern for a period of al least e1ve months from when the financial statements are authorised for issue. Our responsibilities and the wponsibililies of the Trustees Wth respect to going concern are described in the relevant sections of this report. Page 9
THE HEART OF ENGLAND BAPTIST ASSOCIATION IA Company Limited by Guarantee) INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF THE HEART OF ENGLAND BAPTIST ASSOCIATION ICONTINUEDI Other information The other information comprises the information included in the Annual Report other than the financial slalemenls and our Auditors, Report thereon. The Trustees are responsible for the olhei information contained within the Annual Report. Our opinion on the financwl ststements does not cover the other information and, except to the extent otherwise explicitly slated in our ieport, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other infomation and. in doing so, consider whether the other information is materially inconsislenl with the financial slalemenls or our knowledge obtained in the couise of the audit. or otherwise appears lo be materially misslaled. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise lo a material misslalement in the financial slalemenls themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other infomialion, we are required to report that fact. We have nothing to report in this regard. Opinion on other matters pres¢ribad by tha Companies Act 2006 In our opinion. based on the work undertaken in the course of the audit.. the information given in the Trustees, Report for the finan¢ial year for which the financial statements are prepared is consislenl with the financial statemenls. the Trustees. Report has been prepared in accordance with applic2ble legal requirements. Matters on whlch we are rgquirad to report by exception In the light of our knowledge and understanding of the charitable ctsmp8ny and its environment obtained in the course of the audit. we have not identified material misstatements in the Trustees. Report. We have nothing lo report in respect of the folk)wing matters in relation lo which Companies Act 2006 requires us to report to you if, in our opinion.. adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us." or the financial slalemenls are not in agreement with the a¢¢ounling records and relums., or certain disclosures of Trustees, remuneration spe¢ified by law are not made., or we have not received all the information and explanations we require for our audit", or the Trustees were not entitled lo prepare the financial slalemenls in accordance with the small companies regime and lake advantage of the sm811 Companies, exemptions in preparing the Trustees, Report and from the requirement lo prepare a Strategi¢ Report. Page 10
THE HEART OF ENGLAND BAPTIST ASSOCIATION IA Company Limited by Guarantee) INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF THE HEART OF ENGLAND BAPTIST ASSOCIATION {CONTINUEDI Responsibilities of Trustees As explained more fully in the Trustees. Responsibilities Statement, the T¥uslees {who are also the directors of the charitable company for the purposes of company lawl are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such inleinal control as the Trustees determine is neSSary lo enable the preparation of financial statements that are free from material misslalemenl, whether due lo fraud or error. In PTeparing the financial statements, the Trustees are responsible for assessing the charitable companV5 ability to Continue as 8 going concern, disclosing, as applicable, matters related lo going concern and using the going ¢on¢ern basis of accounting unless the Trustees either intend to liquidate the charitable company or lo cease operations. or have no realisti¢ alleinative but lo do so. Auditors. responsibilltles for the audit of the financial statements Our objectives are lo obtain reasonable assurance about whether the financial slalemenls as a whole are free from material mi5slalemenl, whether due lo fraud or error, and lo issue an Auditors. Report th81 includes our opinion. Reasonable assurance is a high level of assurance. bul is not a guarantee that an audit conducted in accordance wrth ISAS IUKI wtll always detect a rnalerial misslalement when rt exi5t5. Misslalements can arise from fraud or error and are Considered material if. individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users tsken on the basis of these financial slalemenls. Irregularities, including fraud, are instancgs of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above. lo delect material misslalements in respect of irregularrties, including fraud. The extent lo which our procedures are capable of delecling irregulariti@s, including fraud is detailed below.. Obtaining an understanding of the legal and regulatory frameworks that the charty operates in, focusing on those laws and regulations that have a direct effect on the financial slalemenls,. Enquir¢ng of management and Trustees around known or suspected instances of non-compliance of laws and regulations and fraud- Discussing among the engagement team regarding how and where fraud might occur in the charity financial slalemenls and any potential indKalions of fraud,. Reviewing minutes of meetings of those charged with governance., and Performing audit work in relation lo the risk of management override, including testing of joumal entries and other adjustmen18 for appToprialeness and reviewing accounting eslimales or bias. Because of the inherent limitations of an audit, there is a risk that we will not delecl all irregularities, including those leading to a material misslalemenl in the financial statements or non-complian with regulation. This risk increases the moTe that compliance with a law or regulation is removed from the events and transactions reflected in the financial slalements, as we will be les5 likely lo become aware of instan¢e5 of non-compliance. The risk is also greater regarding iriegularilies occurring due to fraud rather than error. as fraud involves intentional ¢oncealmenl, forgery, collusion, omission or misrepresentation. Page11
THE HEART OF ENGLAND BAPTIST ASSOCIATION IA Company Limited by Guardnteel INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF THE HEART OF ENGLAND BAPTIST ASSOCIATION ICONTINUEDI A further description of our responsibilities ftir the audit of the financial slalemenls is located on the Financial Reporting Council'5 websile al.. www.fr¢.or .uklaudilorsres Dnsibililies. This description forms part of our Auditors, Report. Use of our report This report is made solely to the charitable company's members, a$ a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work ha5 been undertaken so that we might slate lo the charitable company's members those matters we are required lo slate lo them in an Auditors, Report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and its members, as a body, for our audf( work. for this report, or for the opinions we have formed. Helen Blundell LLB FCA FCIE DChA (Senior Statutory Auditor) for and on behalf of MHA Maclntyre Hudson Chartered Accountants Slalulory Auditors Birmingham, United Kingdom Date.. 16 August 2022 Page 12
THE HEART OF ENGLAND BAPTIST ASSOCIATION IA Company Llmlted by Guarantee) STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNTI FOR THE YEAR ENDED 31 DECEMBER 2021 Unrestricted funds 2021 Restrfcted funds 2021 Total funds 2021 Totsl funds 2020 Note Income from.. Donations and legacies Char((able activities Investments Other income 243.381 37.510 123,707 12.631 243,381 37,510 131,1S9 12,631 562,550 44,928 126.581 19,433 7.452 Total income 417.229 7.452 424,681 753,492 Expenditure on: Raising funds Charitable activities 38,851 582,665 38,851 608,825 44,186 678.932 10 26.160 Total exponditure 621,516 26,160 647,676 723,118 Nel gainslllos5esl on investments Net movement in funds before other recognised gains 16 175,051 175,051 1238,1751 129.2361 118,7081 {47.9441 1207.8011 Other recogni$•d gains: Other gains 26 4.984 4,984 47.073 Net movement in funds 124.2521 118,7081 {42,9601 1160,7281 Reconcillation of funds: Total funds brought forward Net movement in funds 1.803,110 124.2521 1.433.137 118,7081 3,236,247 142,9601 3,396,975 (160.728) Total funds Carried forward 1,778.858 1,414,429 3,193.287 3,236,247 The Statement of Financial Activities includes all gains and losses recognised in the year. The notes on pages 17 10 43 form part of these financial slalements. Page 13
THE HEART OF ENGLAND BAPTIST ASSOCIATION IA Company Limited by Guaranteel REGISTERED NUMBER.. 00238738 BALANCE SHEET AS AT 31 DECEMBER 2021 2021 2020 Note Fixed assets Tangible assets Investments 15 16 1.139,283 3,036,991 1,608,290 2,945,387 4,176,274 4.553,677 Current assets Debtors Investments Cash at bank and in hand 17 172,319 177,892 918,S43 208,126 301,678 352,167 18 1,268.754 861,971 Credf(ors.' amounts falling due within ong yoar 12,166,141) 12,072,432> Net currènt liabilities {897.3871 {1,210,4611 Total assets less Current liabilities 3,278.887 3,343,216 Cred((ors". amounts falling due after more than one year 20 14,0001 {4,000} Net assets èxcluding pension liability Defined benefit pension scheme liability 3,274,887 3,339,216 26 181,600} 1102,969} Total net assets 3,193,287 3,236,247 Charity funds Re51ri¢ted funds Unresliicled funds 21 21 1,414,429 1,778,858 1,433.137 1,803,110 Total funds 3,193,287 3,236,247 Page 14
THE HEART OF ENGLAND BAPTIST ASSOCIATION IA Company Limited by Guarantee) REGISTERED NUMBER: 00238738 BALANCE SHEET ICONTINUEDI AS AT 31 DECEMBER 2021 The Trustees acknowledge their responsibilities for complying with the requirements of the Act wth respect lo accounting records and preparation of financial stalemenls. The financial statements have been prepared in accordance wlh the provisions applicable lo entities subject lo the small companies rogime. The financial slalements were approved 8nd aulhorised for issue by the Trustees and signed on their behalf by.. Revd D Ma¢Lean Trustee and Moderator of the Association Dale-. ioloff12ulZ The notes on pages 17 to 43 form part of these financial slalemenls. Page15
THE HEART OF ENGLAND BAPTIST ASSOCIATION IA Company Limited by Guarantee) STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2021 2021 2020 Cash flows from operating activities Nel cash used in operating activities (Note 231 124S,6181 {211,852} Cash ftows frorn investing a¢tlvltles Dividends, interests and rents from investments Proceeds from the sale of tangible fixed assets Purchase of tangible fixed assets Proceeds from sale of investments Purchase of investments 131,159 495,400 14,1231 297,479 1278,8631 126,581 {296,797} 175,307 168,998} Net cash provided byl{used In) Investing activities 641.062 {63.907} Cash flows from financing activitles Deficiency payments against pension liabilty 117,6771 113,016) Net cash used In financing activities 117,6771 113.016) Change in cash and cash equlvalents In the year Cash and cash equivalents al the beginning of the year 377,767 {288.7751 1.057,489 768,714 Cash and cash equivalents at the end of the year 1,146,481 768,714 The note5 on pages 17 to 43 form part of these financial statements Page 16
THE HEART OF ENGLAND BAPTIST ASSOCIATION (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 Ggneral Information The Heart of England Baptist Association is a prNale company Ilimiled by guarantee) incorporated in England, registr8tion number 00238738, and is also a registered Charty in England and Wales. registration numbèr 1Q80529. The iegislered office is BMS International Mission Cenlre, 24 Weoley Park Road, Selly Oak. Birmingham B29 6QX. The principal a¢tivilies of the charitable company are the employment of a Regional Ministry and adminislralive staff team and the involvement of a number of volunteers, working in groups or individually, lo offer support and guidance, training and financial resources lo advance the Christian farf(h in a way which benefits Baptist churches and the communities they serve. A¢counting policles 2.1 Basis of preparation of flnancial statements The financial statements have been prepared in accordance wi(h the Charities SORP {FRS 1021 Accounting and Reporting by Charities." Slalemenl of Recommended Practice applicable to charities preparing their accounts in ac¢ordance with the Financial Reporting Standard applicable the UK and Republic of Ireland IFRS 1021, the Financial Reporting Standard applicable in the UK and Republi¢ of Ireland {FRS 102} and the Companies Act 2006. The Heart of England Bap115t Association meets the definition of a public benefit enlily under FRS 102. Assets and liabilities are initially recognised al historical ¢osl or transaction value unless otherwise stated in the relevant accounting policy. Tho financial statements are prepared in British Pound Sterling 1£), which is the functional and presenlalional currency of the Charity. Monetary amounts in these financial slalements are rounded to the nearest £. The charty has taken exemption from the requirement lo prepare consolidated financial slalemenls on the grounds that the subsidiary is immaterial to the gioup. 2.2 Company ststus The Company is limited by guarantee. The members of the Company are the Trustees named on pages 6 and 7. In the event of the company being wound up, the liability in iespect of the guarantee is limited to £1 per member ot the company. 2.3 Going concem The financial slalemenls have been prepared on a going concein basis. The Twslees have considered budgets, cash flows and the impact of subsequent events. including that of COVIt%19. Whilst the economic shutdown in response lo COVID-19 has a significant impact on the Charity's operations, the Trustees are satisfied that the Charity has sufficignt available resources. both in terms of cash and investments that can be converted lo cash, such that there is no material uncertainty and the going Ctsnrn basis of preparing the financial slalements continues to be appropriate. Page17
THE HEART OF ENGLAND BAPTIST ASSOCIATION A Company Limited by Guaranteel NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 Accounting policies {continued} 2.4 Income All income is recognised once the Charity has enlillemenl lo the income, il is probable that the income will be received and the amount of income receivable can be measured reliably. The recognition of income from legacies is dependent on estsblishing entitlement. the probability of receipt and the ability lo estimate with sufficient accuracy the amount receivable. Eviden¢e of entitlement to a legacy exists when the Charity has sufFicienl eviden¢e that a gift has been left to them Ilhrough knowledge of the existence of a valid will and the death of the benefactor} and the executor is satisfied that the property in question will not be required lo satisfy Claims in the eslale. Receipt of a legacy must be recognised when il is probable that il will be received and the fair value ot the amount receivable, which will generally be the expected cash amount lo be distributed lo the Charity, can be reliably measured. Donated services or facilities are recognised when the Charity has Control over the item, any conditions a550¢ialed with the donated item have been mel, the receipt of economic benefit from the use of the Charity ol the item is probable and that economic benefit can be measured reliably. In accordan with the Charities SORP {FRS 1021. On receipt, donated professional setvices and facili(ie5 are recognised on the basis of the value of the gift lo the Charity which is the amount il would have been willitw lo pay lo obtain services or facilities of equivalent economic benefit on the open market- a corresponding amount is then recognised in expenditure in the period ol receipt. Income lax recoverable in relation lo donation5 received under Gift Aid or deeds of covenant is recognised al the lime of the donation. Page 18
THE HEART OF ENGLAND BAPTIST ASSOCIATION IA Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 Accounting policies Icontinuedl 2.5 Expenditure Expenditure is recognised On there is a legal or constructive obligation to transfer economic benefit lo a third party, il is probable that a transfer of economic benefits will be required in selllemenl and the amount of the obligation Can be measured reliably. Expenditure is classified by aclivily. The costs of ea¢h activity are made up of the lolal of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable lo a single activity ale allocated directly lo that aclivily. Shared costs which contribute to more than one activity and support costs which are not attributable lo a single activity are apportioned between those activities on a basis consistent with the use of resources. Cenlial staff costs are allocated on the basis of lime spent, and depreciation ¢haiges allocated on the portion of the asset's use. Support costs are those costs incurred direclty in support of expenditure on the objects of the company. Costs of generating funds ale costs incurred in attracting voluntary income. and those incurred in trading activities that raise funds. Grants payable are charged in the year when the offer is made eXp1 in those Cases where the offeT is condi(ional. such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject lo conditions which have not been mel al the year end are noted as commitment, bul not accrued a$ expenditure. All expenditure is inclusive of irrecoverable VAT. 2.6 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 nolificalion of the interest paid or payable by the bank. 2.7 Taxation The Charity is corisidered to pass the tests sel out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore il meets the definition of a charitable company for UK corporation lax purposes. Accordingly, the Charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Se¢lio 256 of the Taxation of Chargeable Gains Ad 1992, to the extent that such income or gains are applied exclusively to charitable purposes. Page 19
THE HEART OF ENGLAND BAPTIST ASSOCIATION IA Company Limited by Guarantoel NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 A¢¢ounting policies Icontinuedl 2.8 Tangible fixed assets and depreciation Tangible fixed assets are initially recognised al cost. After recognition, under the cost model. tangible fixed assets are measured at cost less accumulated depre¢iation and any accumulated impairment losses. All Costs incurred lo bring a tangible fixed asset into ils intended working condition should be included in the Tneasurement of cost. At each reporting dale the Company assesses whether there is any indication of impairment. If such indication exists, the recovelable amount of the asset is determined to be the higher ol ils fair value less costs to sell and ils value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount. No value is attributed to burial grounds owned by the company as the original ¢osl is not known and due lo the nature of the asset il is not considered possible lo determine a fair value. Depreciation is charged so as lo allocate the cost of tangible red assets less their Tesidual value over their estimated useful INes. Depreciation is provided on the following basis.. Freehold property Fixtures and fittings Computer equipment 20h straight line" 150A straight line 33tsh straight line The depreciation charge for freehold property is £nil due lo the residual value of the properties being assessed at a value at least equal lo cost. No depreciation is charged on the freehold land. 2.9 Investments Fixed asset investments are a form of financial instrument and are initially recognised al their transaction cost and subsequently measured al fair value at the balance sheet dale. unless the value cannot be measured ieliably in which case il is measured al cost less impairment. Investment gains and losses. whether realised 01 unrealised, are combined and presented as gainslllossesl on investments, in the Slalement of Financial Aelivilies. 2.10 Debtors Trade and other debtors are recognised al the settlement amount after any Iiade discount offered. Prepayments are valued al the amount prepaid. Loans lo churches are concessionary loans made in furtherance of the charity's purposes. Loans are recognised al cost as adjusted for any repayments made less impairment. 2.11 Cash at bank and in hand Cash al bank and in hand includes cash and short-lerm highly liquid investments with a short malurrty of three months or les5 from the dale of acquisition or opening of the deposit or similar account. Page 20
THE HEART OF ENGLAND BAPTIST ASSOCIATION IA Company Limited by Guarant891 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 Accounting policies (continued) 2.12 Liabilities and Provisions Liabilities and provisions are recognised when there is an oblrgalion at the balance sheet dale as a result of a past event. il 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 lo settle the debt or the amount il has received as advanced payments for the goods or services il must provide. Provisions are measurecl at the best estimate of the amounts required lo settle the obligation. Whe the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rale that reflects the risks specific lo the liability. The unwinding of the discount is recognised in the Statement of Financiaj Activities as a finance cost. 2.13 Flnancial instruments The Charity onty has financial assets and financial liabilities of 8 kind that qualify as basi¢ financial instruments. Basi¢ financial instruments are initially recognised al Iransadion value and subsequently measured al their selllement value. 2.14 Operatlng leases Rentals paid und8r operating leases are charged to the Statement of Financial Activities on a slraighl line basis over the lease term. 2.15 Penslons The Charity participates in a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the charity pays fixed ¢onlribulions into a separate entity. Once the contributions have been paid the charily has no further payment obligations. The contributions are recognised as an expendilLJre when they are due. Amounts not paid are shown in accruals in the Balance Sheet. The assets of the plan are held separately from the charity in an independently administered fund. Prior to 2012, the pension provision was made through mulli-employer defined benefit pension plans. Where il is not possible for the Charity lo obtain sufficient information lo enable it lo account for a plan as a defined benefit plan, il ac¢ounts for the plan as a defined contribution plan. Where the plan is in defici( and where the charity has agreed, wi(h the plan, lo participate in a deficit funding arr8ngemenl. the charity recognised a liabilty for this obligation. The amount recognised is the nel present value of the contributions payable under the agreement that relate lo the deficit. This amount is expensed in the Statement of Financial Activities. Page 21
THE HEART OF ENGLAND BAPTIST ASSOCIATION IA Company Limitèd by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 Accounting policies Icontinuedl 2.16 Fund accounting General funds are unrestricted funds which are awailable for use al the discretion of the Trustees in furtherance of the general objectives of the Charity and which have nol 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 is sel out in the notes lo the financial slalemenls. Reslricled funds are funds which are lo be used in accordance with specrfic restrictions imposed by donoTS or which have been raised by the Charity for particular purposes. The costs of raising and administering such funds are charged against the specrfic fund. The aim and use of each restricted fvnd is sel out in the notes to the financial slalemenls. Investment income, gains and losses are allocated to the appropiiale fund. Critical accounting estimatss and areas of ludgement Estimates and judgements are continually evaluated and are based on historical experience and other factors. including expectations of future events that are believed lo be Teasonable under the circumstances. Judgements in applying the entity's accounting policies.. Multiemployer defined benefit pension schemes certain employees participate in multMployer defined benefit pension schemes with other organisations. In the judgement of the Trustees, the Charty does not have sufficient information on the plan assets and liabilities lo be able to reliably account for ils share of the defined benefit obligation and plan assets. Therefore the schemes are accounted lor as defined contribution schemes. Critical accounting eslimales and assumptions.. Mulli*mployer defined benefit pensKJn s¢heme - the Charity has an obligation lo pay a deficit funding arrangement in respect of tWO&mulli employer defined benefit pension schemes (Baptist Pension Scheme and Baptist Union Staff Pension Scheme). The Present value of the obligation depends on a number of f8Ctors including the RPI rate and the discount rate on corporate bonds. Management estimates these factors in determining the new pension obligation in the Balance Sheet. Useful economic lives and residual values of tangible assets the annual depreciation charge of tangible assets is sensitive lo changes in the estimated useful economic lives and the residual values of the assets. The useful e¢onomi¢ lives and residual values are re-assessed annually. They are amended when necessary lo reflect current estimates, based on economic ulilisalion, physical condition and future investments of assets. Page 22
THE HEART OF ENGLAND BAPTIST ASSOCIATION (A Company Limited by Guarantee} NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 Income from donatlons and legacies Unrestricted funds 2021 Restricted funds 2021 Total funds 2021 Donations Donations 200 200 Subtotal detailed disclosure 200 200 Home Mission Fund Grant Home Mission Grant for mission 123,032 120.149 123.032 120,149 Totsl 2021 243,381 243,381 Unrestricted funds 2020 Restricted funds 2020 Total funds 2020 Donations Donations Donated assets 3,900 294,000 3,900 294.000 Subtotal detailed disclosure 297.900 297.900 Home Mission Fund Grant Home Mission Grant for mission Flood appeal grants 119,332 136,994 119,332 136,994 8.324 8,324 Total 2020 554,226 8,324 562,550 Page 23
THE HEART OF ENGLAND BAPTIST ASSOCIATION IA Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 Income from charitable activities Unrestricted funds 2021 Total funds 2021 Ministers, Conference other activities 10 37.500 10 37.500 Total 2021 37.510 37.510 Unrestricted funds 2020 Total funds 2020 Ministers, Conference Other activities 11.616 33.312 11,616 33.312 Total 2020 44,928 44,928 Page 24
THE HEART OF ENGLAND BAPTIST ASSOCIATION IA Company Limlted by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDEO 31 DECEMBER 2021 Investment income Unrestricted Restrl¢ted funds funds 2021 2021 Total funds 2021 Retired Minister Housing Sncome Dividends and bond interest Interest on loans 10,550 112,655 502 6,669 17,219 112.6S5 1.285 783 Total 2021 123,707 7,452 131.159 Unrestricted funds 2020 Restricted funds 2020 Total funds 2020 Retired Minister Housing Income Dividends and bond interest Interest on loans 1,300 115.904 936 7,901 9.201 115,904 1.476 540 Total 2020 118,140 8,441 126,581 other incomlng resources Unrestrictsd funds 2021 Total funds 2021 Payroll seNi¢e Other activities 12,399 232 12.399 232 Total 2021 12,631 12.631 Page 25
THE HEART OF ENGLAND BAPTIST ASSOCIATION {A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 Other incoming resources Icontinued) Unrestricted funds 2020 Total funds 2020 Payroll service Other activities 18.774 659 18,774 659 Total 2020 19,433 19,433 Expenditure on raising funds Unrèstricted funds 2021 Total funds 2021 Foreign exchange loss on investments Payroll scheme expenses Interest on funds held for churches 1.153 10,998 8,242 1,153 10,998 8,242 Total 2021 20,393 20,393 Unrestricted funds 2020 Total funds 2020 Foreign exchange loss on investments Payroll scheme expense5 Interest on funds held for churches 6.106 10.915 8,852 6,106 10,915 8,852 Total 2020 25,873 25,873 Page 26
THE HEART OF ENGLAND BAPTIST ASSOCIATION {A Cornpany Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 Investment management costs Unrestricted funds 2021 Total funds 2021 Investment management fees 18,458 18.458 Unrestricted funds 2020 Total funds 2020 Investment management fees 18,313 18.313 10. Analysis of expenditure on charitable 4ctlvltles Summary by fund type Unrestricted funds 2021 Restricted funds 2021 Total funds 2021 Regional Ministry Team Grants Subscriptions Minister's Corrference 145.619 253.461 2.142 4,971 176.472 145,619 264,835 2,142 4,971 191.258 11.374 AssocialKJn Activities 14.786 582.665 26.160 608,825 Page 27
THE HEART OF ENGLAND BAPTIST ASSOCIATION IA Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 10. Analysis of expenditure on charitable activities Icontinuedl Summary by fund type Icontinuedl Unrestricted funds 2020 Restricted fund5 2020 Total funds 2020 Regional Ministry Team Grants Subscriptions Minister's Conference 186,042 289.137 7.704 12,546 177,089 186,042 291,137 7,704 12,546 181,503 2.000 Association Activities 4,414 672,518 6,414 678.932 11. Analysis of expenditure by activities A¢tivltles undertaken directly 2021 Grant funding of a¢tivities Support costs 2021 Total funds 2021 2021 Regional Ministry Team Grants 145,574 45 145,619 264,835 2,142 4,971 191.258 264,835 Subscr¢ptions Minislei's Conferen¢e Association Activities 2,142 4,971 14,786 176,472 Total 2021 167,473 264,835 176,517 608,825 Page 28
THE HEART OF ENGLAND BAPTIST ASSOCIATION IA Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 11. Analysis of expenditure by activities Icontinuedl Activities undertaken directly 2020 Grant funding of activities Support costs Total funds 2020 2020 2020 Regional Ministry Team Grants 185,892 150 186,042 291,137 7,704 12,546 181,503 291,137 Subs¢riplions Ministels Conference Association Activities 7,704 11,706 4,414 177,089 Total 2020 209,716 291.137 178,079 678,932 A detailed analysis of grants paid during the year is included at Appendix 1. Analysis of direct costs Regional Mlnistry Mlnlster's Assoclatlon Team Subcriptions Conference Activities 2021 2021 2021 2021 Totsl funds 2021 Staff costs Minister's conference Regional Ministry Team Subs¢riplions Association activitie5 Finance cost (pension deficit} 119,721 119,721 4,971 24,581 2,142 14,786 1,292 4,971 24,561 2,142 14.786 1,292 Total 2021 145.574 2.142 4,971 14,786 167,473 Page 29
THE HEART OF ENGLAND BAPTIST ASSOCIATION IA Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 11. Analysis of expendlture by actlvlties Icontinuedl Analysis of direct costs (continued} Regional Ministry Ministerfs Team Subscriptions Conference 2020 2020 2020 Association Activities 2020 Total funds 2020 Staff costs Minister's conference Regional Ministry Team Subsciiplions Association activities Finance c05t Ipension deficill 152.820 152,820 11,706 30,348 7,704 4,414 2,724 11.706 30.348 7.704 4,414 2,724 Total 2020 185,892 7.704 11,706 4,414 209,716 Analysis of sUPPOrt costs Total funds 2021 Tot81 funds 2020 Stsff costs Depreciation Regional Ministry Team Payroll scheme expenses Premises costs and administration Other stsff costs including training Property Working groups 113,067 3,189 45 107,802 2,444 150 1,467 28,578 3,837 4,822 633 9,545 837 1,170 27,873 3,787 12,109 1,186 4,831 1,380 4,589 4,580 6,178 Board expenses Legal and professional Other Audit and accountancy fees Profil on disposal of fixed asset held fo¥ sale 11642 6,764 16,S48 li 125,4571 176,517 178,079 Page 30
THE HEART OF ENGLAND BAPTIST ASSOCIATION IA Company Limited by Guaranteel NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 12. AuditOTS' remuneratlon The auditors. remuneration amounts to an auditor fee of £10.200 2020 £10.200), and non audit services of £1,800 {2020- £1.8001. 13. Staff costs 2021 2020 Wages and salaries Social security costs Pension costs Inole 261 195,920 13,464 23,404 216,386 18,637 25,599 232,788 260.622 The average number of persons employed by the Company during the year was as follows.. 2021 No. 2020 No. No employee reiVed remuneration amounting lo more than £60.000 in either year. During the year the Rev A Argile, a Trustee of the ch8rilable company, received remuneration for his role as Regional Minister Team Leader and travel expenses in conne¢tion wth that role. He was not remunerated for Trustee duties. The ¢ost lo the Charity of the remuneration (gross pay plus employer's national insurance and pension) was £41,699 {2020.' £44,183) and expenses were £3,190 12020.. £3.263). Key management personnel of the Charity are considered lo be the Tiuslees. No other Trustee received any remuneration. 14. Trustees. remuneration and expenses During the year, no Trustees received any remuneration or other benefits 12020.. £Nill. except a5 disclosued above. During the year ended 31 December 2021, expenses tolalling £837 were reimbursed or paid directly to 7 Trustees {2020 - £1,380 to 7 Trustees). Page 31
THE HEART OF ENGLAND BAPTIST ASSOCIATION IA Company Llmlted by Guarantoel NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 15. Tanglblg fixed assets Freehold Fixtures and prop&rty rittings Computer equipment Totsl Cost or valuation At 1 January 2D21 Additions Disposals 1.599.876 34,152 10,868 4,123 13,577) 1.644.896 4,123 {493,9731 1469,0001 121.3961 Al 31 December 2021 1.130,876 12,756 11,414 1.155.046 Depreciation Al 1 January 2021 Charge for the year On disposals 28.606 1.1S1 120.4531 8,000 2,038 13,579} 36,606 3,189 {24,0321 At 31 December 2021 9.304 6,459 15,763 Net book value Al 31 December 2021 1.130,876 3,452 4,955 1.139,283 Al 31 December 2020 1,599,876 2.868 1,608.290 16. Flxed asset Investments Other fixed Llst&d asset investments invostments Total Cost or valuatlon At 1 January 2021 Additions Disposals Revaluations 2,830,519 278,853 1297,4791 175,051 114.869 2.945,388 278,853 1361,1481 175,051 11,1531 163,6691 Foreign exchange movement 11.1531 At 31 December 2021 2,986,944 50,047 3.036.991 Page 32
THE HEART OF ENGLAND BAPTIST ASSOCIATION IA Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 16. Flxed asset investments {continuedl I rixed asset investments are held in the UK Subshdiary undertaking The CST Corporate Trustee Limited (Company number 11454313), a Company limited by guarantee, is a subsidiary by virtue of the Charity being the sole member. Ils sole purpose is lo act as a corporate Trustee in iespecl of the assets of the Cannon Street Trust. The subsidiary is not material to the group and has therefore not been included in the financial slalemenls. 17. Debtors 2021 2020 Trade debtors Other debtors Prepayments and accrued income 2,849 140,564 28,906 1.418 193,558 13,150 172,319 208,126 Included within other debtors are loans to churches of £140,564 12020.. £193,558) which are generally expected to be received after one year. Current asset investments 2021 2020 Deposi(s held on behalf of churches 177,892 301,678 Page 33
THE HEART OF ENGLAND BAPTIST ASSOCIATION A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 19. Creditors: Amounts falling due within one year 2021 2020 Trade credilois Other laxalion and social security Other credi(ors Accruals and deferred income 3,164 6,948 2.126.617 29.412 12.6711 7.305 2,023.568 44,230 2,166.141 2,072.432 Included within other Creditors is an amount of £2.126,61712020.' £2,023,568) held on behalf of certain churches and the Cannon Street Trust. Thg churches are required to give due notice before withdrawal of these amount5. 20. Credltors: Amounts falling due after more than one year 2021 2020 Other creditors 4,000 4.000 Other creditors represents a contribution lo Retiied Housing which is an equity contribution by the tenants which is repayable on the sale of thè propety at Clee View, Bridgnorth. Page 34
THE HEART OF ENGLAND BAPTIST ASSOCIATION IA Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 21. Statement of funds Statement of fund$ - current year Balance at 1 January 2021 In¢omo Expenditure Balance at 31 December 2021 Transfers Gainsl inllout) (Losses) Designated funds Church Resources Fund Minister's Resources Fund Regional Ministry Fund Mission Development Monkspalh Fund Mission Grant Funds Pension ieserve 44,734 12,8001 41,934 38,205 186,588 493,279 90.387 {1,2501 1451 187,0811 142.1811 38.955 186.543 364,017 90,387 120,149 1162.330) 120.600} 42,181 66,429 45,829 919,622 120.149 1274,1061 765,665 General funds General Funds- all funds 883,488 297,080 347,4101 180,035 1,013,193 Total Unrestricted funds 1.803.110 417.229 1621,516) 180,035 1.778,858 Restricted funds Atch Lench Baptist Trust Heart of England Loan Fund Helen Youth Fund Retired Ministers & Missionaries Housing Fund Weslmancote Baptist Trust 28.443 111.3741 17.069 850.863 1,581 850.863 1,581 532,698 6,669 113,8931 525,474 12,390 838 6.324 12,390 728 Benevolent Fund Flood Fund 783 1893) 6,324 1,433.137 7.452 126,1601 1.414.429 Total of funds 3,236.247 424,681 1647,6761 180,035 3,193.287 Page 35
THE HEART OF ENGLAND BAPTIST ASSOCIATION IA Company Limited by Guaranteel NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 21. Statement of funds (continued} Statement of funds- prior year Balance al 1 January 2020 Income Expenditure Balance at Transfers Gainsl 31 December inlloull {Lossesl 2020 Designated funds Church Resources Fund Minislerfs Resources Fund Regional Ministry Fund Mission Development Monkspath Fund Mission Grant Funds Pension reserve 44,734 38,205 186,738 351.762 294,000 90,387 44.734 38,205 186,588 493,279 90,387 {1501 {112.0471 {40,436} 136,994 {177.4301 40.436 66,429 66.429 778,255 430,994 {289,6271 919.622 General funds General Funds 1,195,934 305,733 {427.0771 1191,1021 883,488 Total Unrestricted funds 1,974,189 736,727 {716.7041 1191,1021 1,803,110 Restricted fund5 Atch Lench Baptist Trust Heart of England Loan Fund 28.443 28,443 850,863 1,581 850.863 1.581 Helen Youth Fund Retired Ministers & Missionaries Housing Fund 528,154 7.901 13.3571 532,698 Westmancote Baptist Trust Benevolent Fund Flood Fund 12,390 1,355 12.390 838 540 8.324 11.0571 12.0001 6,324 1,422,786 16.765 16,4141 1,433,137 Total of funds 3,396,975 753.492 1723,1181 1191,102} 3,236,247 Page 36
THE HEART OF ENGLAND BAPTIST ASSOCIATION IA Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 Analysis of nèt assets betsveen funds Analy$i$ of net assets between funds - Current year Unrestri¢tfjd funds 2021 Restricted funds 2021 Total funds 2021 Tangible fixed assets Fixed asset investments Current assets Creditors due within one year Creditors due in more than one year Provisions for liabilities and charges 1.139,283 1,139,283 744,214 2,292,777 3.038,991 16,485 1,252,269 1.268,754 139,524) {2,126,6171 12.166.141} {4,0001 14.0001 181,6001 181,600) Total 1.778,858 1,414,429 3.193.287 Analysls of net a$$èts bètweèn funds - prior year Unreslricled funds 2020 Restricted funds 2020 Tot81 funds 2020 Tangible fixed assets Fixed asset investments CUrn1 assets Creditors due within one year Creditors due in more than one year Provisions for liabilities and charges 1,091,687 863,256 516,603 1,608,290 2,082,131 2,945,387 861,971 861,971 148,864) 12,023,568) 12.072,4321 14,0001 14,0001 (102.9691 {102,969} Total 1,803.110 1,433,137 3,236,247 Page 37
THE HEART OF ENGLAND BAPTIST ASSOCIATION IA Company Limitsd by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 23. Reconciliation of net movement in funds to net cash flow from operatlng actlvltias 2021 2020 Net expenditure for the year las per Statement of Financial Actwrtiesl 147,9441 1207,8011 Adjustments for- Depreciation charges (Gainslllosses on investments Dividends, interests and ren15 from investments Gain on the sale of red assets De¢ase in debtors Increaselldecreasel in creditors Defined benef(( scheme finance cost adjuslmenl 3.189 {175,0511 {131.1591 125.4611 35,807 93,709 1.292 2,444 238,175 1126,5811 25,612 1146,425) 2,724 Net cash used in operating activities 1245.6181 1211,8521 24. Analysis of cash and cash equivalents 2021 2020 Cash in hand Notice deposits (less than 3 months) 918.543 227.938 300,276 468.438 Total cash and cash equivalents 1,146,481 768,714 25. Analysis of changes in net debt At1 January 2021 Cash flows At31 December 2021 Cash at bank and in hand Liquid investments 352,167 416,547 566,376 1188,6091 918,543 227.938 768,714 377,767 1,146,481 Page 38
THE HEART OF ENGLAND BAPTIST ASSOCIATION IA Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 26. Pension commitments The Heart of England Baptist Association is a participating employer in the Baptist Pension Scheme I'lhg BPS"), which is a separate legal enlily administered by the Pension Trustee (Baplisl Pension Trust Limited). The assets of the Scheme ale held separately from those of the Employer and the other participating employers. The Scheme, previously known as the Baptist Ministers, Pension Fund, started in 1925. bul was Closed lo future accrual of defined benefits on 31 December 2011. Prior to this dale the main benefit provided through the Defined Benefit {DBI Plan was a pension of one eighlielh of final minimum pensionable income for each year of pensionable service together with additional pensk)n in respect of premiums paid on Pensionable Income in excess of Minimum Pensionable Income. From January 2012. pension provision is being made through the Defined Contribution (DCI Plan within the Scheme. In general, members pay 80/0 of their Pensionable Income and employers pay 60/0 of members, Pensionable Income into individual pension a¢¢ounls, which are operated and managed on behalf of the Pension Trustee by Broadslone Corporate Benefits Ltd. In addition, the employer pays a further 40h of Pensionable Income lo cover Death in Service Benefits, adminislralion Costs, and an associated insurance policy which provides income protection for Scheme members if they are unable lo work due to long-lem incapacity. This income protection policy has been insured by the Baptist Union of Great Britain with Aviva Limited. Members of the Basic Section pay reduced contributions of 50/0 of Pensionable Income. and their employers also pay a total of 5/0. The Scheme is considered to be a multiemployer Scheme as described in Section 28 of FRS 102. Because it is not possible lo attribute the Scheme's assets and liabilities lo specific employers, the scheme is accounted for as if the Scheme were a defined contribution scheme. The table below SLJmmarises the main reSUS of the most recent actuarial valuations of the BUSPS and the Defined Benefit IDBI Plan in the BPS. These valuations weie perfomed by a professionally qualified Actuary using the Projected Unit Method.. BPS DB Plan 31 December 2019 31 December 2022 £298m BUSPS l January 2017 NIA scheme is in wind-up £10.3m Dale of valuation Dale of next valuatlon Market value of scheme assets IA) Technical provisions IB} Deficit l{B} {All Funding level IIA) I IBII £316m £18m £16.2m £5.9m 840 As a result of the valuations, in addition to the Contributions lo the DC Plan sel out above. the following defi¢ien¢y Contributions were agreed.. For the BPS, the standard rale of deficiency contributions payable remains al previously agreed levels, increasing each year in line with increases in the Minimum Pensionable Income. The deficienGy contribulions are broadly based on 120A of Pensionable Incomelminimum Pensionable Income. reflecting each employer's contributions in March 2015. Some employers that were involved in the DB Plan for short period pay lower contributions. The Trustee and the Council agreed a 500h reduction for all deficiency contributions payable between 1 Juty 2020 to 31 December 2020. In addition, the Baptist Union of Great Britain agreed to contribute a lump sum of £0.5m by 31 December 2020. The current Recovery Plan dated 30 September 2020 envisages deficiency contributions continuing until 30 June 2026. Page 39
THE HEART OF ENGLAND BAPTIST ASSOCIATION IA Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 26. Penslon commitments l¢ontlnuedl Section 28.11A of FRS 102 requires agreed deficit recovery payments lo be recognised as a liability. The movement in the provision is set out in the table bel¢)w. 2021 2020 Balance sheet liability al year stsrt Minus deficiency contributions paid Interest Cost {recognised in SOFA) Remaining change lo balancè sheet liability. Irecognised in SOFA) 102,969 117,6771 1,292 {4,9841 160,334 113,0161 2,724 147,0731 Balance sheet liability at year end 81,600 102,969 Comprises any change in agreed deficit recovery plan and change in assumptions btheen yearonds. For the BUSPS, previously agreed contributions of £759,000 pa (payable from 1 January 2016 and increasing each January in line with RPI inflation) were due until 31 January 2018. Following this. a lump sum paymènt of £2.734.062 was paid in February 2018 and further contributions were made lo ensure the Scheme had sufficient assets to secure the BUSPS benefits in full with an insurer. The lolal contribution5 were split between the Sponsoring employers in line with their eslimaled share of the BUSPS'S liabilrties. These significant contribution5 were part of a plan to wind up the BUSPS. The Scheme formally triggered wind-up on 31 August 2018, and wind-up was completed in September 2019. As part of this, the benefits for BUSPS members who are also active members of the BPS wore increased lo offset the fact that their BUSPS benefits will no longer increase in future in line with Changes in their salary. An additional contribution was also been made lo the DC Plan within the BPS for members who are yet lo retire and have a BPS DC fund. In pradice the Association paid money to BUGB in 2018 which was intended lo cover all of the Association's outstanding commitments lo the BUSPS, and a portion of this money Ito the extent it was not required lo secure the benefits in ftjll and cover outstanding costs) was returned to the Association by BUGB in 2019. The key financial assumptions underlying the valuation5 were as follows.. Page 40
THE HEART OF ENGLAND BAPTIST ASSOCIATION {A Company Limited by Guarante&l NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 Type of assumption BPS Qknpa BUSPS .pa RPI price inflation assumption CPI price inflation assumption Minimum Pensionable Income Increases (BPS only) Pensionable Salary increase IBUSPS only) Assumed investment relums Pre-retiremenl Post retirement Deferred pension increases Pre April 2009 Post April 2009 Pension increases Pre April 2006 Post April 2006 3.20 2.70 3.20 NIA 3.45 2.70 NIA 3.70 2.95 1.70 2.25 3.20 2.50 3.45 2.50 2.70 2.80 3.25 2.15 As there are numljers of contributing employers participating in both the BPS and the BUSPS, the Charity is unable to identity its share of the underlying assets and liabilities of the schemes. Accordingly, the profit and loss charge for the period represents the employer contributions payable. The lolal pension st for the Charity in the year were £23.40412020". £25,5991 for the BPS. 27. Operating lease commitments Al 31 December 2021 the Company had commitments lo make future minimum lease payments under non-cancellable operating leases as follows." 2021 2020 Not later than 1 year Later than 1 year and not later than S years 732 25,110 1,113 6.210 6.942 26,223 Page 41
THE HEART OF ENGLAND BAPTIST ASSOCIATION IA Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 Related paty transactions The charity is a member of the Baptist Union of Great Biilain and is in receipt of grants from the Home Mission FLJnd which is part of the Baptist Union. Grants of £243,181 {2020'. £259,480) were reiVed in this respect. Trustees of the Charity are drawn from the membership of the local Baptist Churches and there are therefore. from lime lo lime, grant awards made lo benefit either the individual or the church. There is a formal process in relation lo grant applications which helps to ensure that any conflict of interest is mitigated by the exclusion of the conllicted individual in the decision makin9 process. During the previous year a laptop was sold lo Tim Fergus50n 81 ils residual value of £67. The CST Corporate Trustee Limited The CST Corporate Trustee Limited is a trust corporation constituted as a company limited by guarantee of which HEBA is the sole member and director. Included within other creditors is an amount of £462,63012020'. £463,630) held on behalf of the Cannon Street Trust. Umberslade Endowment Charity The Trustees of HEBA are also Trustees of the above named Charity which is regisleied with the ChaTity Commission. There are no transactions between the two entities bul HEBA oversees the activity of the Charity. The Cannon Street Baptist Chapel Trust HEBA is in the process of transferring the trusteeship of the Cannon Street Trust lo The CST Corporate Trustee Limited. The following church buildings, all within Birmingham, exp1 Smelhwck. are owned by the Cannon Street Trust. The buildin9s are occupied by the churches on the equivalent of fully insuring and repairing leases at a peppercorn rent. The'leases. expire when the churches no longer require the propety. Birmingham Cenlial Baptist Church Cannon Street Memorial Church Castle Bromwich Baptist Church and Manse Church of the Redeemer City Road 88Ptisl Church People's Chapel Small Heath Baptist Church Smethwick Baptist Church Stratford Road Baptist chUh 29. Post balance sheet events On 1 July 2022, The Heart of England Baptist Association acquired the freehold of 480 Chester Road for £380,775. 30. Controlllng party The Charity is ultimately conlTolled by the Board of Trustees. Page 42
THE HEART OF ENGLAND BAPTIST ASSOCIATION IA Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 31. Company limited by guarantee The Charity is a Company 5imiled by guarantee and does not have share capital. Page 43
THE HEART OF ENGLAND BAPTIST ASSOCIATION IA Company Limited by Guaranteè) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 Appendlx 1- Grants paid during the year Grants to Churches Unrestricted Designated Designated Restricted 2021 Total 2020 Totsl from Missions Grant Baddeley Edge 7,718 7.718 8,100 Boymeadow re Flood fund 1.500 Bearwood 1,000 1,000 Black Country Urban Industrial Mission 5.104 5,104 Bromsgrove BC 4.167 Chelmsley Wood 3.675 3,675 4,800 Cookhill BC Cornerstone, Osweslry 5,880 5,880 6,480 Darkhouse 6,125 6,125 6,000 Dawley 8,943 8,943 8.769 Delves, Walsall 6,125 6,125 3.000 Emmaus 4,550 4,550 Ewyas Harold 5,716 5.716 6.264 Far Forest 11.374 11.374 Gateway to Hope 6,125 6,125 6,000 George Road Community Ch 9,188 9.188 7,500 Glebe Farm 5,250 5.250 9,583 Glebe Farm Pioneer 5,104 1.215 6.319 Green Lane, Walsall 11,025 11.025 14,917 Keele University LEP 5,250 5,250 6,000 Kiddeminster BC 500
THE HEART OF ENGLAND BAPTIST ASSOCIATION IA Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 Appendix 1- Grants paid during the year Kings Community Church Limbrick Wood, Coventry 2.000 2,000 4,000 1.089 1.089 10,800 Lenlons Lane BC 1,000 1.000 Londonderry 7,962 7,962 9.000 Madeley 4,900 4,900 8,400 New Hope 3,000 Newport 8,587 8,587 9.600 Pulson 7,656 7.656 Rising Brook re Pioneer grant 12.917 12.917 20,417 Rising B¥ook re Ministry Among the Deaf 25,500 25,500 24,000 Sandon Road 4,667 Six Ways re Castle Vale Project 5,928 5,928 6.372 Six Ways re Castle Vale Project 12,250 12.250 12,0()O Six Ways re Castle Vale Project 1,144 1,144 Smethwick re BCUIM 1,640 1.640 9,600 South Street 12.678 Stoke 4,594 4.594 12.900 Uplon BC re Flood fund 500 Warley 1,000 1,000 5,000 Warley 500 Wadey 6,125 6.125
THE HEART OF ENGLAND BAPTIST ASSOCIATION IA Company Lirnited by Guarantee NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 Appendix 1- Grants paid during the year Wgdnesbury 6.125 6,125 6,000 Wolslon 3.063 3,063 3,000 Grants to Individuals Rev Kirsteen Macaulay 500 500 Revd N.Benneti 329 329 500 Church from Scratch project 100 100 Grants to Organisations B.C.C.E & C.L.A.S.P 608 608 Churches Ind Group Bham 2,000 2.000 1,000 Churches Together in Shropshire 2,000 2,000 Churches Together in Hereford 750 750 Birmingham Churches Together 5,360 5,360 Faith al Work in Worcs 5,625 5,625 4.750 HEBA Women's Ministers Day 440 Telford Christians Together 4,500 4,500 8.000 Urban Expression 6.250 8,250 6,250 Urban Expression Cobridge 1,200 West Mids FE Chaplain¢y 1.500 1,500 4,555 Workcare 7.000 7.000 7.000
THE HEART OF ENGLAND BAPTIST ASSOCIATION {A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 Appendlx 1- Grants paid during the ygar Ministry among Deaf Exps 1,854 1,854 1.429 Telford Christians Together 392 392 2.000 Total 2,683 192.936 54.622 11,374 261,615 291.138
THE HEART OF ENGLAND BAPTIST ASSOCIATION IA Company Llmlted by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 Appèndix 2 Properties Held as Custodian or Holding Trustee on behalf of Others at 31 December 2021. CST = Cannon Slreet Tnjst C = Conservation area L = Listèd Name Detalls Acocks Green Chapel. School H811, Manse Alvechurch Chapel, Schoolrooms, land al rear, Manse Attleborough Church, other properties, Manse Ashmore Park Chapel, Hall Austsey Church Buiklings Baddeley Edge Chapel Baptist Church Centre Handsworth Church Barnl Green Chapel, land at rear Manse Church and School Hall Beatwood Bedworth Chapel 8nd School Hall. Manse Bilslon Church and halls. Manse Binley Woods (LEP} Birmingham Central Baptist Church CST Manse Church, Land Adjoining car park Bridgnorth Chapel, Offices 7 Wesl Castle Street Brierley Hill Chapel, Schoolrooms, Burial ground Bromsgrove Chapel and School Hall Manse Chapel and School Hall Bull Lane. Slokewon-Trenl Cannon Street Memorial CST Church and Halls, House, Manse Carters Lane Ch8pel and School hall Manse Church and Manse Castle Bromwich CST Castle Hill. Warwick Church, other properties, Manse Catshill Chapel and halls. burial ground. Manse Cedar Church, Kingslanding Chapel and Hall
THE HEART OF ENGLAND BAPTIST ASSOCIATION IA Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 Chadsmoor Chapel, Schoolrooms Chase Chelmsley Wood Chuch chUh Cenlre, Manse Chester Road. Chapel, Manse Chorley Chapel, Burial Ground Church of the Rodgemer CST Properties in Monument Road City Road CST Church, Manse Darkhouse Chapel, School Hall and small burial ground Graveyard, Bell Sl Church, School Hall and Burial Ground, Manse Dawley Donnington Wood Chapel Edward Rd Chapel and Schoolrooms Erdinglon. Six Ways Chapel, School Halls, Manse Ewyas Harold Church, Manse and Land adjoining Far Forest Church Fenton Chapel and School Hall Fordhouses Wolverhampton Chapel and School Hall. Manse Four Oaks Chapel and Halls. House G90rge Road Community Church Church and hall Grace Community Church Church building and land abutting church Grenfell Chapel, Land adjoining, House Hall Green Icrislchurch LEPI Chapel, Hall, Manse Hope Stourbridge Chapel, School Hall. Manse Hanloy. Stoke-on-Trent Church Centre Harborne Church and Halls, other properties, Manse Hearsall Manse Kenilworth Church Highgate Church, hall and flat above.
THE HEART OF ENGLAND BAPTIST ASSOCIATION IA Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 Hockley Heath Church Hall, land Adjoining Kirb9S Community Church Kings Norton Church and Schoolroom Chapel, School Hall and land adjoining, Manse Ledbury Church. Manse and additional house Lenlons Lane, Coventry Church, School Hall, additional land. Manse Limbrick Wood Church and Hall, Manse Londonderry Church and hall Longbridge Chapel and Hall, Manse Longford Salem.. School Halls- Leased expiring 2030 Union Place.. Church, hall and burial ground Church Centre Ludlow Nelherton. Ebenezer Chapel and Schoolroom Lodge Fami, Netherton Church Hall Messiah, Netherton Burial Ground New Christ Church, Aston Chapel, Manse Newbridge Chapel, School Hall, Manse New¢aslle-under-Lyme Church New Life. Kings Heath Newport Church. Manse and 2 houses Church Building and sile Northfield Church and halts, manse, Other land 00 Offices 85 Warwick Road Osweslry Church Building Oversl8de Church Hall Peoples Chapel CST Church. Manse Perry Beeches Chapel Providence Chapel, and burial ground, Manse Polesworth Church. School Hall and burial ground Ponlesbury Chapel and Burial Ground. Manse
THE HEART OF ENGLAND BAPTIST ASSOCIAnON {A Company Llmlted by Guarant&el NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 Rugby Chapel and School Halls Sl Peter's Worcester Church, Manse Sallley Chapel, Manse Sandon Road. Stafford Chapel and School Hall, 2 Houses Selly Park Chapel and School Hall. Manse Ict>lrusteel Shrewsbury Claremont sile IC}.' Chapel Crowmoor sile.- Church Church and halls Small Heath CST Smelhwick CST Church Stechford Chapel, Manse stoke Baptist Church Church, Manse Slrafford Road CST Church and site Tabernacle Wolverhampton Chapel and School halls, caT park, Manse Tamworth Chapel Walsall, The Delves Sile, Chapel, Church Hall. Manse Walsgrave Chapel and School Hall, Manse Wartey Chapel and School Halls and land adjoining. Manse Wednesbury Chapel, Manse West Bromwich Chapel. Manse Westmancole Burial Ground CC Order 2004. Co-Truslees with Official Cust¢xlian Wolston Chapel. Burial Ground Word of Spirit and Lrfe Church, Church Yardley School Hall. Manse Yardley Wood Chapel. Manse