HEBA
The Hedriof EnBland Bapb'SlA￿jllation
ANNUAL REPORT AND
FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2021
The Heart of England Baptist AsSocIa￿On
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 De￿mber 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 p3￿CularlY 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 organi￿tIon 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 prO￿s.
Assist individuals who a￿ exploring a call to any Baptist ministy by signposting various routes to recognised
Baptist ministry, intemewing candidates, supporting Mini￿al 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 re￿1ve 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 re￿Iving 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 provI￿on 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 pol￿e$ and practi￿ through the prowsion of tralnbng for
church members, ministers and pastors.
keeping appropriate Safeguarding records, induding docu￿ents kept in long-terrn secure systems.
acting to provide help and support to churches 5eeknng to improve their own governan￿1 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 pro*igon 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 a￿lstan￿ 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 offi￿5 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.
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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 t￿oduCtion of
BSL interpretr.ng for the Bapt￿t 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
spa￿S 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
Offi￿r.
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 ￿1￿81 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 th￿r 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.
re￿UltIng two new Trusiee5, who would take up their tX15itions early in 2022.
C￿tinuing to implement outcomes of the Board Review, including further use of the &)vernance W￿1
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 inc￿ent 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 year*nd 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 praCti￿S 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 balan￿S on notitr and term depDSits, Most of these funds represent balan
held on behalf of churches where minirnal capital risk 15 I￿Portant
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 reSoUr￿S {£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 re*rves from 0.4 is the
result of the sale of two fixed asset properties in 2021 the prO￿ed5 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
advan￿ment 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 r￿earch 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 advan￿Mert 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 benef￿al 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 CO￿panY 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 TRu￿EE5 (CONTINUED)
YEAR ENDED 31 DECEMBER 2021
The Trustees use their Skills Audit in the pro￿55 of ￿(rUitIng new members of the board. Trustees are recruited
through invitstions to member churches to no￿nate 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
Red￿￿Yne-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 wo￿n9 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 A5￿cIatIOn 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 A￿pted 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 conSisten￿y.
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 A￿1VilieS, 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 con￿rn 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 ne￿SSary 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 Ctsn￿rn 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 eX￿p1 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 r￿ed 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 mult￿Mployer
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 re￿iVed 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
CUr￿n1 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 r￿ed 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 reSU￿S 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 re￿iVed 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, ex￿p1 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 chU￿h
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
chU￿h 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
0￿0￿
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