HEBA
The Heart of England Baptist Association
ANNUAL REPORT AND
FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2022
The Heart of England Baptist Association
Registered Charity Number.. 1080529 Registered Company Number: 00238738
Registered Office: 480 Chestsr Road, Sutton Coldfield 873 5BP

THE HEART OF ENGLAND BAPTIST ASSOCIATION
(A Company Limited by Guarantee)
CONTENTS
Page
Trustees. Report
Independent Auditors. Report
10-13
Statement of Financial Activities
14
Balance Sheet
15-16
Statement of Cash Rows
17
Notss to the Financial Ststements
18-45
Appendix l- Grants paid
46
Appendix 2- Properties held as custodian or
holding Trustee
47 -50

THE HEART OF ENGLAND BAPTIST ASSOCIATION
(A Company Limited by Guarantee)
TRusfEES' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2022
The Trustees, who are dlrectors for the purposes of company law, are pleased to present the Annual Report and
Financial Ststements of the charitable company for the year ended 31 December 2022, which are prepared to meet
the requirements for a Director's Report and accounts for Companies Art PLsrposes. References to'HEBA' throughout
this report refer to the Heart of England Baptisi Association.
The financial statements a)rnply with the char￿leS Art 2011, the Companies Act 2006, the Artldes of Assodatlon and
'Accounting and Rerx)rbng by Charities: Ststernent of Recommended Prartice applicable to d)arities preparing thelr
accounts in accordan￿ with the Finanoal Reporting Stsndard applicable in the UK and Republlc of Ireland (FRS102).'
Objectives and Activities
The Objects of this charitable company are the a(fvan￿￿￿nt of the Chri5ban faith, parbcularly In the Heart of England
and especially by the means of and in accordanTr with the principles of the Baptist denominati(x) as set ¢JJt for the tlme
being in the Dedaration of Principle of The Baptist Uniw of Great Britsin (BUGB).
The values espoused by the Trustee5 of the charitable company are Companionship, Generosity, Diversity, Learning
and Innovation. These values are continually presented to churches for their encouragement and so that they
understand the principles guiding the work of the d)aritsble company. The values are presented at events to which
churches are invited, through the regular mailings to churches, through the work of the HEBA Offi￿ team and Regional
Ministers and on the Trustees, social media outlets and channels.
The prlncipal activities of the charltable company are the employment of a Regional Ministy and administrative 5tsff
team and the organisation of a number of volunteers, working in groups or individually, to offer support and gvidance,
training and finanaal resources to advan￿ the Chrtstian faith in a way which benefits Baptist churche5 and the
communities they seNe.
The charitsble company 15 Part of the family of Baptist organisation5 serving the needs of many of the Baptist churches
in Great Britain, working particularly c105ely with the Bapt15t Union of Great Britsin IBUGB). The charity has a linked
charity, the Heart of England Baptist AsSOClation Loan Fund {1080529-11 and the Trustees are also Trustees of the
Umberslade ￿UrCh Endowment (255061) and Dirertors of the CST Corporate Trustee ￿mIted(lI4543I3).
The charitable company aim5 to
Co-operate with churthes directly and through working group5 by providing information and support and by
passing appropriate resolutions to enable building development projeLts, including Sustainable Energy Funding.
Many of these projerts are dIre(￿Y aimed at makn'ng churth building5 mre a￿ssIble and available to the local
community.
Assist churches and ministers that are seekn.ng new ministries through lJ)e Baptist National Settlement process.
Assist individuals who are exploring a call to any Baptist ministry by signposting various routes to recognised
Baptist mini5ty, interwewing candidate5, suppgrbng ministerial candidates ar￿ providing BUGB approved training
for preachers and pastors.
Make Safeguarding training avallable on a rolling programme, encouraging and enabling ministers and members
of churches to receive training. This included the use of supported online training for part of the year.
Provide Safeguarding support to churches when incidentslsuspectsd incidents arise.
Mediats disagreements arising within churches or be￿een churches and their local community.
Encourage the HEBA Grants Committee as it continues to seek creative ways of supporting churd)es In thetr
rn1￿10n using Baptist Home Mission and Association funds.
Ensure, through its Finan￿ Working Groupi responsible and effeLtive stewardship of the resouffts of the
charitsble company.
Encourage churches to support Baptist Home Mi55i0n arKI BMS World Mission through prayer, dirett partnership
with mission personnel and financial giPG, $0 that the Gospel of Jesus Christ can continue to be shared in the UK
and abroad.
Co-operate with other Baptist organisations and other denominations where this supports the obSeds of the
Association.
Re￿1ve and consider reports from all Working Groups and the Regional Ministers, enabling charitsble
company to maintain effective governance, induding receivTng reports on the stsff appraisals, budget proposals,
safeguarding issues and other work with churd)es as appropriate.
Page I

THE HEART OF ENGLAND BAPTIST ASSOCIATION
(A Company Limited by Guarantee)
TRUSTEES, REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
Support the stsff employed by the charitsble company through the provision of opproprlate training and supporL
and provision of clear and effective stsfring and other policies.
Seek appropriate and timely legal advi￿ on issues having a potentially wide-ranging effert wth a view to
understsnding and, where possible, mitigating their risk.
Continue to explore ways in which the Trustee Board can becorne even more effettive in governing the charftsble
company and in their strategic planning.
Publlc 8eneflt
The Trustees, having regard to the Charity Commission s guidance document,'public benefit: running a charity (PB2)',
continued to provlde public benefit by seeknng to advan￿ the Chrisban faith and pr￿Cb￿ in accordance with the
objects of the charitable company.
The Trustees sought to athieve this in several ways induding:
encouraging churthe5 trj adopt robust safeguarding policies and practi￿ through the provlsion of training for
church member5, ministers and pastors;
keeping appropriats safeguarding records, including documents kept in long-term secure systems;
acting to provide help and supp)rt to churd)es seeking to improve their own governance, projects or buildlngs.
holding stsff accountsble for thelr support for churches seeknng to advan￿ the Christian frdith in thelr
communities,.
funding in partnership with other organI￿tiOnS - the continued provision of a Baptist minister for deaf and
deafened people in Stsfford,. and
encouraging churches and ministers through the annual Ministers, Conferen￿, theological refiection days,
interaction with Regional Ministers and other 5tsff and themes pursued at all joint events, to engage effectively
and serve their local communities.
Achievements and Performance
Having been given notice to leave their rented i)ffice space, the Trustees undertook a robust analysis of the needs of
the charitable company, drew up criteria to cover these needs and undertcK>k a search for accommodation, wlth
move being undertaken at the end of 2021. After renting the premises at 480 Chester Road, Sutton Coldfield for a
few months, the Trustees completed the purchase of the property on l Juty 2022. using the funds for the sale of
houses. They agreed that the Administration Team would work from the new Offi￿ each Wednesday and from home
for the rest of the week and this has proved a productive form of hybrid worklng. This team, with the help of some
committed volunteers, worked particularly hard during the move to the new premises, including advising on fjtting
out the new space in a cost effective and attractive way¢ and the Trustees are gratefvl for their commitment to this
projett which was undertaken alongside their other work.
The Trustees support three Regional Ministers (RMS) in thelr work thrc4Jgh the provision of assistance in housing, in
training and in permitting them to tske sabbatical leave. The Association's foundational value is'companlonshlp, and
the Regional Ministers seek to embody thls in their work with churches and ministers. Included are regular
engagements with church leadership teams, congregations and ministers, with the Regional Ministers supporting
them generally and as they have sought new ministry or a change to ministry, and as they considered how to move
foNard in their mission as the special rules relating to the coronavirus pandemic came to an end. They also helped
churches with internal conflicts, offering mediation and comfort to members and ministers. Simon Jay was appointed
to speclfically support and walk with the pioneers working in HEBA.
The Trustee5 also o)ntinued to encourage online and in person training, meetings and cOnferer￿S, during the year,
including a successful Women's Conference and a meetlng of the HEBA justi￿ Hub. They parbcularty encouraged
the Disability Task Group during the year, as they sought to promote awareness around i55ue5 of disability justi￿ in
order to enable full participation and equality for dlsabled people In our churches.
The charitable company, through its Regional Mini5ter5, continued to support ecumenical work across the whole area
of the Association, for example, all Rms serve on ecumenical bodies in the region during the year. The Trustees and
staff team continued to SUPPOfL with ecumenical and Baptist partners, the ministry of Revd Susan Myatt, Baptist
Page 2

THE HEART OF ENGLAND BAPTIsf ASSOCIATION
(A Company Limited by Guarantee}
TRUSTEES, REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
Minister Amongst the Deaf, financlalty and through prayer. A significant gatherlng was the first 'We5t Midland5
Summit, of regional leaders In Christian ministry and this was attended by the 3 Regional Ministers.
During the year the Minlsterlal Re(x)gnition Group commended four people for tralnlng tr) become 'fully accredited
Baptist ministerg and three people to train as'nationally recognised pastors,. Seven'newly accredited minister5, were
intsryiewed and commended to the Baptist Union for transfer to the'fully accredited ministy, list.
Two symposiums were held, one on 'Disability' and led by Martin Hobgen to reflect the JUS￿ee theme for 2022, and
one on 'The Church Neeting, and led by the Regional Ministers. The Mlnlsters, Conference was held at the Hayes.
Swanwick with Chrls Duffett speaktng on '] am who you say l am, and attended by 87 people over 48 hours.
Each of the Regional Mlnisters are mernbers of National Baptist Groups and they along wlth other volunteers attended
gatherings In person and on-line during the year.
Two 'retired minister lunches, were held these were organised for HEBA by Rev Darren Smith, the mlnlster of
Worcester Bapttst Churd).
The charitable company continued to model an organisational ojlture which prioritises safeguarding through their
encouragement and support of churches to provide a safe and trusted environment for all those they come into
contart with, particularly children, young people and Adults at Risk. During 2022, the charitable company provlded
Safeguarding training for 861 individuals from 62 churcheslorganisations at 29 Level 2 training events and 10 Level
3 training events, as well a5 76 online Question and Answer groups. Revd Duncan MacLean served as Trustee for
Safeguarding and Mr Keith Baldwin continued to serve as Safeguardbng Offi￿r and also delivered training. The
Trustees are grateful to all the volunteer trainers who provide ex￿lIent training to the churches of the ASSOCIa￿On.
The charitsble companyi thr(xJgh its Grants Group, provided grants to 23 thurches and proierts, 4 grants to individuals
and 7 grants to organisations (see appendix l). This Group consulted the BU Environmental Ne￿ork in drafting new
terms for the HEBA Sustainability Grants which were agreed by the Finance Worknng Group. They further considered
the budgetsry constraints of the knociation and the need to contratt the grant funds available to churches in future
years.
The work of the Grants Group is directly overseen by the Finance Group, which ensured that all funds were being
held and spent appropriately. They reviewed budgets at each meeting and established a Budget Review Group during
the year, whose work encouraged the Trustees to Start a fully review of the priorities and structure of the charitsble
company. The Finan￿ Group supported efforts to recruit replacements for the FinanTr Manager and the Association
Treasurer, who were both retiring. They offered 5UPPOrt to the staff team during the period when there was no
Treasurer, including assisting the preparation of a letter to the member churches sent in November, which highlighted
the deficit and need for cost efficiencies. They were pleased to welcome Mr Tom Russell to the team as Interim
Finance Manager in September and have encouraged him in hi5 work. They were also pleased to acknowledge the
start of the process of appcintment of a new Treasurer, Mrs Merry Otieno, who was affirmed as a Trustee in 2023.
The charitsble company's book-keeping and account-production services to member churches continued, and Bt the
end of the year had produced accounts for one church and was undertakn'ng book-keeping for three d)urthes. The
Payroll Service offered to churches and projects also continued, and at the end of the year, payroll ServI￿S we
being undertrdken for 60 churches/projects1102 individuals).
The charitsble companyi through its Trust Working Group cfwG), gave consideration and practical assistan￿ to over
30 churches involved in building purthase. disposal and development; changing their legal strurture and amending
their structure. It continued to offer support to churche5 With dilapidated burial ground5. The transcription of the
Church trusts detsils into elethonic form was not completed during 2022 due to lack of capacity- TWG supported the
Trustees in the process towards eviction of a tenant and sale of that property and in the purchase of the Association
offi￿.
A new volunteer was reauited to join the Group during the year and new Temis of Reference for the Group were
drafted by TWG and adopted by the Trustees. Following advi￿ from the solicitor to the chartsble company, Mr Roger
Wiliams of DWF, that he would be retiring, the TWG ethblished a tssk group to interview other Practi￿ and
Page 3

THE HEART OF ENGLAND BAPTIST ASSOCIATION
(A Company Limited by Guarantee)
TRUSTEES, REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
recommend an appointment. Through a robust and interesting pro￿55, Shakespeare Martineau were appointed. The
Trustees and Group are grateful to Roger his 20 years of Serv1￿ and that Soliotors from Shakespeare Martineau
attend each meeting of the TWG as Roger Williams had.
A memorial ceremony was led by Rev Adrian Arglle at Witton Cemetery to reinter the human remains from Freeman
Street Baptist Church following their discovery in the construction of the HS2 ststion in Birmingham.
The charitsble company completed the followlng of its plans for the year..
Moving the Association offi￿ and purchasing a propety:
Undertaking training for staff and Trustees In data protecbon and revlewlng poliae5 and prO￿dureS in light of
this training;
Undertaking training for stsff and Tnjstees in equality, diverslty and inclusion and reviewtng wlicies
procedures in light of this trainingi and
Holding an in person AGM and adopting new Afacles of Assooation and Rules.
Risk Review
The charitsble company contlnued to review its Risk Management Matrix at least three times a year. The full migration
of ￿ services to the cloud enabled skff to work effectively from ￿)me and also reduce(i the rlsk posed by having all
bad( up recording on hardware.
Signlflcant rfsks identified during the year were:
The possibility of incidents or acodents In dllapldated burial grounds where the charitable company is holding
Trustee rerrain5 an ongoing ￿n￿rn.
Censure arising from a failu￿ to properfy Implement the requirements of the General Data Protecbon Regulations
has been identified as a risk to the charitsble company. The charitsble company obtained training to help mitigate
these risks. Having said that, one dats breach was reported to the Dats Protection Lead though a report to the
ICO was not requi￿d.
The risk of reputa￿onal damage to the Gospel, the charitsble company and the Baptist movement arising from a
safeguardlng incldent In a church remains high and is a driving fartor behind the charitable compan￿5 investment
in safeguardlng training for church ministers and members. One Serious Incldent Report was made tr) the Charty
Commission during the year.
Stsff turnover and inability to replace key 5tsff or volunteers. The Trustees adverbsed three times for
repla￿ment Finan￿ Manager when Mr5 Sue Q)ate5 annoUn￿d her retirement. They were unable to appoint,
but were grateful to God that Mr Tom Russell, a Baptist Church Treasurer, was willing to join the staff team
during September on an interim ba515. The Trustees are grateful to Sue for the support she has given to Tom
and her continued involvement in special projects on a volunteer basis. They are also grateful to the whole staff
team for their hard work during periods of ill health of colleagues, which indicates the robuthess of the Trustees,
systems in mitigation of this risk,. and
The Trustees have committed to reducing the deficit in the accounts to zero.
Financial Review
During 2022 the overall funds of the Assoaation de￿eased by £486,970 to £2,706,317 (£3,193,287 in 2021)
General fund income was £315,595. Expenditure totslled £469,159 resulting in a 1055 of £153,564. Net losses on
investrnent assets totslled £368,377 reflecting the downward pressures in the finanaal markets durlng the year. A
net gain of £72,660 resulting from a change in the agre&J pension defiat recovery plan was Induded. The General
Fund at the year-end was £563,912.
The Net Movement on Designated Funds was £19,836 exce55 of ex￿ndILUre over income. This was prirnarity due to
the ongoing use of the Mission Development Fund for grants to thurch and other mlsslon projects. At the year end
the totsl balan￿ of des¢gnated funds was £745,829.
Page 4

THE HEART OF ENGLAND BAPTIST ASSOCIATION
(A Company Limited by Guarantee)
TRusfEES' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
Other income and expenditure in the Restricted Funds primarily relate to income and expendlture for the Retir
Ministers and Missionaries Housing Fund and Atch Lench Baptist Trust expenditure for mlsslon. There have been no
loans from the Heart of England Loan Fund. The net movement across the restritted funds was £17,853. At the year
end balan￿S acros5 the restricted funds was £1,396,576.
The Association is part of a very complex multi-employer defifteil benefit pers&on scheme comprlslng approximatety
1200 employer5. See Note 26 in the Financial Statements.
Xnvestment powersi policy and performance
The Trustees have appointed Redmayne Bendey as Investment Managers for the Association's Investment portfolio.
The manager5 have discretionary powers to invest in line with the Investment Policy which is classed as medium risk
and aims for moderate grovrth in income whilst at least maintsining capitsl values over the medlum to long term.
Refletting the ethos of the Association, an ethical investsnent policy is in pla￿ to guide the investment manager. This
f¢xuses on positive aspects such as good governance and gwd working prattl￿5 35 well as exdudirmj sectors whith
do not fit with the Assoaatton s ethos.
During the year, the portfolio retum (totsl return basis) decreased by 1.450/0, against the porthlio benchmark retum,
which increased by 0.66%.
The Associa￿On continued to maintsin substsntial balances on notice and term deposits, Most of these funds
represent balances held on behalf of churches where minimal capitsl risk is important.
Reserves policy
The Trustees consider a reserve of one yearfs costs is required to ensure a managed exit from all exisknng agreements
and contracts. One yearfs costs 15 the total general fijnd expenditure excluding one off events and induding one year
of grant funding from the Association's own resources {£0.153m), where grants are expetted to be needed beyond
the current year. This latter is to reflert commitsnents, often staff related. which have been entered into by grant
reTriving churches. On this basis reseNes of £0.622m are required. Excluding fixed assets and restriLted funds the
Assoaation's free reserves were negative at £0.216m. The reduLtion in cover of reseNes required was the result of
the Trustees intentional strategy to reduce the reserves on a managed basis whilst ensuring capacity to generate
sufficient funds in the future. However, the extent of the decrease was not ontscipatsd and was due to other
extenuating events outslde of the Association's control including Significant reduction in income, inflationary c05t
increases and unrealised 10s5e5 from movements in our investments portfolio. The Trustees are ath.vely seeknng to
redress reserves to aceeptsble levels through the sales of properties, undertaking a remew of the future costs and
strucbjre of the Association, cash levels and improved investment perf0mlan￿.
Plans for future periods
During 2023, the char(table company will seek to continue to fulfil its obj.etts in creative ways that will assist in the
advancement of the Chrlstian faith and the enrichment of church and community life in the Heart of England.
This will indude..
undertaking a review to establish the resonan￿ of the strategic priorities, values etc with the member
churches
Complete review of Terms of Reference of Working Group
Focus on our core value of Companionship
Continue working towards reducing the large budget deficit
Board wruitment
Further develop the Justice Hub, launch women's year of justi￿, develop young people's involvement
Page 5

THE HEART OF ENGLAND BAPTIST ASSOCIATION
{A Company Limited by Guarantee)
TRusfEES' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
Update and implement communication strategy
Help our churches better understand what it mears to be a Baptist church
structure, Govemance, Management
The charitable company Is govemed by Its Articles of ￿$S￿la￿on and Rules of 20 April 2022.
The Objects of this charitable company are the advancement of the Christian faith, particularly in the Heart of England
and especially by the means of and in accordance wlth the prinaples of the Baptist denomination as set out for the
time being in the Declaration of Principle of The Baptlst Union of Great Brliain.
Trustees, Interests
No Trustee had any beneficial interest in the charltable company or in any contrart or arrangement of a material
nature with the charitable company during the year under review. Declaratr"ons of Loyalty and Interest are required
at the start of every meeting of Trustees and Working Groups and the Association Administrator also asks Truste&4
to update their written Dedaratk)ns of Loyalty and Inter&5t on an annual basis.
RecNitmen¢ appointment, Indurtlon and trainin9 of Trustees
The charitsble company Is run by its Board of Trustees who are also dirertors. They held five meetings during 2022.
The Trustees use thelr Sknlls Audit in the prO￿sS of recruiting new members of the board. Trustees are recrurted
through invitstions to member churches to nominate people whom they believe to be appropriate for the task.
Nomlnees are sent copies of the d)aritable companfs Arttcles of Association and its Conflict of Loyalty and Interests
policy and are asked to complete and sign the Declaration of Qualification to seNe as a Trustee. They usually have
a meeting with the Moderator of the Board of Ttustees and are advised that appropriate checks will be undertaken
to confirm that they are eligible to serye in this capacity. If, after this, they still wish trj serve, the churches of the
Association are Invited to affirm the nominees by email or letter to the Administratorlcompany Secretary. On
appointment they are invited to a formal iThJucbon meeting with the Administratorlcompany Secretsry who signposts
essential documents available from the Charity Commission, Companies House and BUGB websites, as well as
providing an overview of the activities of the charitable company.
The Association Administrator who is also the Company Secretary assisted all Trustees by signposting documents and
conferen￿5 to help them in their worL This indudes circulating information from the Charity Commission. Companies
House, some third sertor organisations and the Churches, Legislation Advisory Service, and advising them of Seminars
and training that they could attend.
Page 6

THE HEART OF ENGLAND BAPTIST ASSOCIATION
(A Company Limited by Guarantee)
TRUSTEES, REPORT {CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
Related Partles
The charitsble company is a member of the Baptist Union of Great Britain, paying a subscription to this charity. Funds
from the Home Mission Fund, whlch is the principle working fund of the BUGB, are recewed by the charitable company
and dist￿ed by its Grants Group.
The Registered Office of the charltable company is in property owned by the charitable company
The charity has a Ilnked charity, the Heart of England Baptist Association Loan Fund (1080529 -1) and the Trustees
are also Trust￿ of the Umberslade Church Endowment (255061) and Directors of the CST Corporate Trustee Llmlted
(11454313).
Key Management personnel remuneration
The charitsble company consider their key management personnel to be..
The charitable company's board of Trustees
The pay and remuneration of the employees of the tharitsble company Is set by the charitsble company through the
Board and its ￿nance Group and is based upon the Baptist Home Mission recommended stipend.
Persons of Significant Control (PSC) Register
The tharitsble company knows or has reasonable ouse to believe that there is no registrable person or reglstrable
relevant legal entity in relation to the charitable company
Page 8

THE HEART OF ENGLAND BAPTIST ASSOCIATION
(A Company Limited by Guarantee)
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
Directors. responslbilities in relation to the financlal statements
The Trustees (who are also dirertors of The Heart of England Baptlst Association for the purposes of company law) are
responsible for preparing the Trustees, Annual Report and the financial statements in accordan￿ w￿h applicable law
and United Kingdom Accounting Standards (United Klngdom Generalty AC￿pted Accounting Practi￿).
Company law requlres the Trustees to prepare financial statements for each finandal year, whlch give a true and fair
view of the state of affalrs of the charitsble company and of the incoming reSoUr￿S and application of resources,
induding the income and expenditure. of the charitable company for that period. In preparing these financial
statements, the Trustees are required to..
selett suitable accountlng poliaes and then apply them consistenuy.
observe the methods and principles in the Charities SORP IFRS 102);
make judgements and estimates that are reasonable and prudent,.
stste whether applicable UK Accounting Stsndard5 have been followed, subjert to any material departures
disdosed and expkined in the financial ststernents,. and
prepare the financial statements on the going concern basis unle55 it 15 inappropriate to presume that the
charitable company will contlnue In operation.
The Trustee5 are responsible for keeping adequate accountlng records that dlsdose with reasonable accuracy at any
time the financial position of the charltsble company and enable thern to ensure that the financial statements comply
with the Companies Art 2006. They are also responsible for safeguarding the assets of the charitsble company and
hence for tsking reasonable steps for the prevention and detecbon of fraud and other irregularities.
In so far a5 the Trustees are aware:
there is no relevant audit information of which the charitable company's audltor Is unaware; and
the Trustees have taken all steps that they ought to have taken to make themselves aware of any relevant
audit information and to establish that the auditor is aware of that infom)ath"on
Auditors
Following a rebranding exercise on 15 May 2023 the trading name of the companvs Independent audthr changed from
MHA Moclntyre Hudson to MHA. A resolution to reappolnt MHA as independent audftor wfill be proposed at the next
Annual General Meeting.
This report was approved by the Board on ..................... .....
Signed
Mrs Judith Miller
Moderator of the Association
Page 9

THE HEART OF ENGLAND BAPTIST ASSOCIATION
IA Company Limitgd by Guarantee)
INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF THE HEART OF ENGLAND BAPTIST
ASSOCIATION
Opinlon
We have audited the financial statements of The Heart of England Baptist Association (the 'Charitable
Companv) for the year ended 31 December 2022 which comprfse the Statement of Financial Activities. the
Balance Sheet, the Statement of Cash Flows and the related notes, including a summary of significant
accounting policies. The financial reporting framework that hÈs 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. Iunlted Kingdom Generally Accepted Accounting
Practic81.
In our opinion the financial statements:
give a true and fair view of the stsle of the Charitsble Companls affalrs as al 31 December 2022 and of
its incoming resources and application of resources, including its income and expendlture for the year
then ended..
have been properly prepared in accordance with Unlled Kingdom Generally Accepted Accounling
Practice: and
have been prepared in accordance with the requirements of the Companies Act 2006.
Basis for oplnlon
We conducted our audit in accordance ￿th Inlemational Standards on Auditing {UK) IISAS IUKII and applicable
law. Our responsibilities under those standards are further described in the Auditors, responsibilities for the audit
of the financial statements section of our report. We are independent of the Charitable Company in accordance
with the ethical requirements that are relevant to our audit of the financlal statements in the United Kingdom,
including the Financial Reporting Council's Ethical Standard, and we have fulfilled our other ethical
resF)onsibilities in accordance with these requlrements. We believe that the audit evidence we have obtsined is
Sufficient and appropriate to provide a bagis for our opinion.
ConclusSons relating to going concern
In auditing the financial statements, we have concluded that the Trustees, use of the going concern basis of
accoLtnting in the preparation of the finart¢ial statements is appropriate.
Based on the work we have performed, we have not identified any materi81 uncertainties relating lo events or
conditions that, individually or collectively, may cast significant doubl on the Charitable Companvs ability lo
continue as a going concern for a period of at le8sI ￿e1ve months from when Ihe financial ststements are
authorlsed for issue.
Our responsibilities and the responsibllitles of the Trustees with respect to golng concern are described in the
relevant sections of this report.
Page 10

THE HEART OF ENGLAND BAPTIST ASSOCIATION
(A Company Llmited by Guarantee>
INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF THE HEART OF ENGLAND BAPTIST
ASSOCIATION ICONTINUEDI
Other informatlon
The other infomiation Gomprises the infonn8lion included in the Annual Report other than the financial
statements and our Audrtors, Report Ihereon. The Trustees are responsible for the other information contained
within the Annual Report. Our opinion on the financial statements does not cover the other information and,
except to the extent othe￿iS8 explicitly stated in our report. we do not express any fom) of assurance conclusion
Ihereon. Our responsibility is lo read the other information and. in doing so, consider whether the other
information is materially inconsislenl with the financial statements or our knowledge obtained in the course of the
audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent
material misstatements, we are required to determine whether this gives rise lo a material misstalemenl in the
rinancial statements themselves. If. based on the work we have perfomied, we conclude that there is a material
misslatemenl of this other infomi8tion. we are required lo report that fact.
We have nothing lo report in this regard.
Oplnlon on other matters prescrlbed by the Companles Act 2006
In our opinion, based on the work undertaken in the course of the audit:
Ihe information given in the Trustees, Report for the financial year for which the financial statements are
prepared is consistent with the financial slatemenls; and
th8 Trustees, Report has been prepared in accordance with applicable legal requirements.
Matters on which we are requlred to report by exception
We have nothing to r8POrt In respect of the following matters where the Companies Act 2006 requires us lo
report lo you if, in our opinion:
Ihe infomiation given in the Trustees, Report is inconsistent in any material respect with the financial
statements., or
sufficient accounting records have not been kept.. or
the financial slalemenls are not in agreement with the accounting records and relums.. or
we have not received all the information and explanations we require for our audit. and
the Trustees were not enlilled lo prepare the financial statemenls in accordance with the small companies
regime and take advantage of the small companies, exemptions in preparing the Trustees. Report and
from the requirement to prepare a Strategic Report.
Responsibilitigs of Trustees
As explained more fully in the Trustees, Responsibilities Statement, the Trustees (who are also the directors of
the Charitable Company for the purposes of company law} are responsible for the preparation of the financial
statements and for being satisfied that they give a true and fair view. and for such internal control as the
Trustees determine is necessary to enable the preparation of financial statements that are free from m8teri81
misstatement, whether due to fraud or error.
In preparing the financial statements. the Trustees are responsible for assessing the Charitable Company's
ability to continue as a going concern, disclosing, as applicable, matters related lo going con￿rn and using the
going concem basi5 of accounting unless the Trustees either intend to liquidate the Charitable Company or lo
cease operations, or have no realistic alternative but lo do so.
Page11

THE HEART OF ENGLAND BAPTIST ASSOCIATION
IA Company Llmited by Guarantee)
INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF THE HEART OF ENGLAND BAPTIST
ASSOCIATION ICONTINUEDI
Auditors. responsibilities for the audit of the flnancial statements
Our objectives are lo obtain reasonable assurance about whether the financial statements as a whole are free
from material misstalemenl, whether due to fraud or error, and to issue an Auditors, Report that includes our
opinion. Re8sonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in
accordance with ISAS (UK) will 81ways detect a material misstatement when it exists. Misstatements can arise
from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be
expected lo influence Ihe economic decisions of users taken on the basis of these financial ststemenls.
Irregularitles. including fraud. are InStan￿S of non-compliance with laws and regvl8tions. We design procedures
in line with our responsibilities. outlined above, to detect material misstatements in respect of irregularities.
indudlng fraud. The extent to which our procedures are capable of detecting irregularities. including fraud is
detailed below:
obtaining an Unde￿tsnding of the legal and regulatory frameworks that th8 Charity operates in, focusing on
those laws and regulations that have a direct effect on the flnancial statements-
enquiring of management and Trustees around known or suspected instances of non-compliance of laws
and regulations and fraud;
discussing amongst tho engagement team regarding how and where fraud might occur in the Charity
rinancial statements and any potential indications of fraud..
reviewing minutes of meetings of those charged with govemance. and
performing audit work in relation lo the risk of management override, including testing of joum21 entries and
other adjustments for appropriateness and reviewing accounting estimates or bias.
Because of the Inhe￿nt Ilmltations of an audit, there is a rlsk that we will not detect all irregularities, including
those leading to a material misstalemenl in the financial statements or non-compliance with regulation. This risk
increases the more that compliance with a law or regulation is removed from the events and transaction5
reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance.
The risk is also greater regarding irregularities occurring due to fraud rather than error. as fraud involves
intentional concealment. forgery. collusion, omission or misrepresentation.
A further descriptlon of our responsibilities for the audll of the financial statements is located on thg Financial
Reporting Council's website at.. www.frc.or
.ukJauditorsres
onsibilities. This description forms part of our
Auditors. Report.
Page 12

THE HEART OF ENGLAND BAPTIST ASSOCIATION
(A Company Limited by Guarantee)
INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF THE HEART OF ENGLAND BAPTIST
ASSOCIATION ICONTINUEDI
Use of our report
This report is made solely lo the Charitable Companls Trustees. as a body, in accordanc8 With Chapter 2 of
Part 16 of the Companies Act. Our audit work has been undertaken so that we might slate to the Charitable
Companls Trustees those matters we are required to stale to them in an Auditors. Report and for no other
purpose. To the fullest exlenl permitted by law, we do not accept or assume responsibility lo anyone other than
the Charitable Company and its members. as a body, for our audit work, for this report, or for the opinions we
have formed.
Ellzabeth Newell BA (Honsl FCA (Senlor Statutory Audltor}
For and behalf of MHA
Chartered Accountsnts
statutory Auditors
Milton Keynes, United Kingdom
Date.. 19 September 2023
MHA is th8 trading name of Maclntyre Hudson LLP, a limited liability partnership in England and Wales
{registered number OC3123131.
Page 13

THE HEART OF ENGLAND BAPTIST ASSOCIATION
(A Company Llmlted by Guarantee)
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORAT]NG INCOME AND EXPENDITURE ACCOUNTI
FOR THE YEAR ENDED 31 DECEMBER 2022
Unrestricted
fund$
2022
Restricted
funds
2022
Total
funds
2022
Tol81
fvnds
2021
Note
Income from:
Donations and legacies
Charitable activities
Investments
Other income
231,962
41.726
117,005
45,010
231.962
41,726
122.433
45.010
243,381
37,510
131.159
12,631
5,428
Total income
435.703
5.428
441,131
424,681
Expenditure on:
Raising funds
Charitable activities
55.776
553,327
55,776
576.608
38,851
608.825
10
23.281
Total expendlture
609,103
23,281
632,384
647,676
Net Ilossesygains on investments
Net movement in funds before other
recognised gains
16
(368,3771
1368,3771
175,051
(541.7771
{17,853)
1559,630}
{47.9441
Other recognised gains:
Other gains
26
72,660
72,660
4.984
Net movernent In funds
{469,1171
117,8531
1486.970)
142,960}
Reconciliation of funds:
Total funds brought forward
Net movement in funds
1.778.858
1469.117)
1,414.429
117,8S31
3.193.287
(486.9701
3.236,247
142,960)
Total funds carried forward
1.309,741
1.396.576
2,706,317
3.193.287
The Statement of Financial Activities Includes all gains and losses recogni$ed in the year.
The notes on pages 18 10 45 form part of these financlal statements.
Page 14

THE HEART OF ENGLAND BAPTIST ASSOCIATION
IA Company Limited by Guarantee)
REGISTERED NUMBER: 00238738
BALANCE SHEET
AS AT 31 DECEMBER 2022
2022
2021
Note
Fixed as$gts
Tangible assets
Investments
15
16
1.526.483
2,720,475
1.139.283
3,036.991
4.246,958
4.176.274
Current assets
Debtors
Investments
Cash at bank and in hand
17
18
24
144.907
80.315
492.809
172,319
177,892
918,543
718.031
1,268,754
credito￿.. amounts falling due within one
19
{2.254,6721
(2,166,141)
Net curront liabilitiOS
{1.536.641}
1897,3871
Total assets less current liabilities
2.710.317
3,278,887
Creditors.. amounts falling due after more
than one year
20
14.0001
14,0001
Net assets excluding pension liability
Defined benefit pension scheme liability
2.706.317
3,274,887
26
{81,600)
Total net assets
2,706,317
3,193.287
Charty funds
Reslricled funds
un￿st[1C1ed funds
21
1.396.576
1.309,741
1,414,429
1,778,858
21
Total funds
2,706,317
3,193.287
Page 15

THE HEART OF ENGLAND BAPTIST ASSOCIATION
IA Company Limited by Guarantee}
REGISTERED NUMBER: 00238738
BALANCE SHEET ICONTINUEDI
AS AT 31 DECEMBER 2022
The Trustees acknowledge their responsibilities for complying with the ￿qUIrementS of the Companies Act 2006
with respect to aecounling records and preparation of financial statements.
The financial slalemenls have been prepared in accordance with tho provisions applicable lo entities subject to
the small companies regime.
The financial statements WeTO approved and authorised for issue by the Trustees and signed on their behalf by-
dlth Mlller
e and Moderator of the Association
Date..
The notes on pages 18 10 45 fom part of these financial stalemenls.
Page 16

THE HEART OF ENGLAND BAPTIST ASSOCIATION
(A Cornpany Limited by Guarantee)
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 DECEMBER 2022
2022
2021
Cash flows from operating a¢tivitlOS
Nel cash used in operating activities (Note 23)
(190.2701
{245.6181
Cash flows frorn Investlng actlvttles
Dividends, interests and rents from investments
Proceeds from the sale of tangible fixed assets
Purchase of tangible fixed assets
Proceeds from sale of Investmenls
Purchase of investments
122,433
131,159
495,400
1393.145)
14.123)
111.145
297.479
{185,3821 1278,853)
Not cash (used inyprovlded by Investlng actlvltles
(344,9491
641.062
Cash flows from financing actlvltles
Deficiency payments against pension liabilily
(10,468)
{17.6771
Ngt cash used in financing activitles
(10,468)
{17.677)
Change In cash and cash equivalents in the year
Cash and cash equivalents at Ihe beginning of the year
(545.6871
1,146,481
377,767
768,714
Cash and cash equlvalents at the end of the year
600.794
1.146,481
The notes on pages 18 10 45 form part of thes& financial statements
Page 17

THE HEART OF ENGLAND BAPTIST ASSOCIATION
IA Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
General inforniation
The Heart of England Baptist Association is a private Company Ilimiled by guarantee) incorporated in
England and Wales, registration number 00238738, and is also a registered Charity in England and
Wales. registration number 1080529. The registered office is 480 Chester Road, Sutton Coldfield,
England. B73 58P.
The principal activities of the Charitable Company are the employment of a Regional Ministry and
administrative staff team and the involvement of a number of volunteers, working in groups or individually,
to offer support and guidance, training and financial resources to advance the Christian faith in a way
which benefits Baptist churches and the communities they serve.
Accounting pollcles
2.1 Basls of prgparation of financlal statements
The financial stslements have been prepared in accordance with Ihe Charities SORP (FRS 102) -
Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities
preparing their accounts in accordance with the Financial Reporting Standard applicable in thé UK
and Republic of Ireland IFRS 102}, the Financial Reporting Standard applicable in the UK and
Republic of Ireland IFRS 1021 and the Companies Act 2006.
The H8art of England Baptist Association meets the definition of a public benefit entity under FRS
102. Assets and liabilities are initially recognised al historical cost or trdnsaclion value unless
otherwise staled in the relevant accounting policy.
The financial statements are prepared in British Pound Sterling 1£), which is the functional and
presenlalional currency of the Charity. Monetary amounts in these financial statements are rounded
lo the neargst £.
The Charity has taken exemption from the requirement lo prepare consolidated financial statements
on the grounds that the subsidiary is immaterial lo the Group.
2.2 Cornpany status
The Company is limited by guarantge. The members of the Company are the Trustees named on
page5 7. In the event of the Company being wound up, the liability in respect of the guarantee 1$
limited to £1 per member of the Company.
2.3 Going concern
The financial statements have bgen prepared on a going concem basis. The Trustees have
considered budgets. cash flows and the impact of subsequent event. The Trustees are satisfied that
the Charity has sufficient available resources, both in terms of cash and investments that can be
converted to cash, such that there is no material uncertainty 8nd the going concern basis of preparing
the financial ststements continues to be appropriate.
Page 18

THE HEART OF ENGLAND BAPTIST ASSOCIATION
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
Accounting policies {contlnuedl
2.4 Income
All income is recognised once the Charity has entitlement to the income, it is probable that the
income will be received and the amount of incorne re￿1vable can be measured reliably.
The recognition of income from legacies is dependent on establishing enlitlemenl, the probability of
receipt and the ability lo estimate with sufficient accuracy the amount re￿1Vable. Evidence of
entitlement lo a legacy exists when the Charity has sufficient evidence that a gfft has been left to
them (through knowledge of the existence of a valid will and the death of the benefaclorl and the
executor 15 satisfied that the propety in question will not be required lo satisfy claims in the estate.
Receipt of a legacy must be recognised when il is probable that il will be received and Ihe fair value
of the amount receivable, which will generally be the expected cash amount to be distributed to the
Charity, can be reliably measured.
Donated services or facilities are recognised when the Charity has control over the item, any
conditions associated wlh the donated item have been met, the receipt of economi¢ benefit from the
use of the Charity of the item is probable and that economic benefit can be measured reliably. In
accordance with the Charities SORP IFRS 1021.
On receipt, donated professional services and facilitl8s are recognised on the basis of the valug of
the gift to the Charity which is the amount it would have been willing 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 pgriod of receipt.
Incomg tsx recoverable in relation to donations received under Gift Aid or deeds of covenant is
recognised at the time of the donation.
2.5 Expanditure
Expgnditure is recognised once 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 settlement and
the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs
of each activity are made up of the total of direct costs and shared costs, including support costs
involved in undertaktng each activity. Direct costs attributable to 8 Single activity are allocated direGIIy
to that activity- Shared ¢ost5 which contribute lo more than one activity and support costs which are
not attribulsble lo a single 8Ctivity are apportioned between those activities on a basis consistent with
the use of resources. Central staff costs are allwated on the bgsis of time spent. and depreciation
charges allocated on the portion of the asset's use.
Support costs are tho% costs inGurred direGtly in support of expenditure on the objects of the
Company.
Costs of generating funds are costs incurred in attracting voluntary incorne. and Ihose incurre¢J in
trading activities that raise funds.
Grants payable are charged in the year when the offer is made except in those cases where the offer
is conditional, such grants being recognised as expenditure when the conditions attaching are
fulfilled. Grants offered subject to conditions which have not been met at the year end are noted as a
ommilment, but not accrued as expenditure.
All expenditure is inclusive of irrecoverable VAT.
Page 19

THE HEART OF ENGLAND BAPTIST ASSOCIATION
IA Company Lirnited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
counting policies l¢ontinued)
2.5 Expenditure (continued)
Expenditure on raising funds includes all expenditure incurred by the Company to raise funds for its
charitable putposes and indudes costs of 811 fundraising activiues events and non-charitable trading.
ExpenditLtre on charitable aclivities is incurred on directly undertaking the activities which further the
Companls objectives, ag well as any assoclaled support cosls.
2.6 Interest receivable
Interest on fvnds held on deposit is induded when receivable and the amount can be measured
reliably by the Charfty. this is normally upon notification of the interest paid or payable by the bank.
2.7 Taxalion
The Charity is considered lo pass Ihe tests set out in Paragraph 1 Schedule 6 of the Finance Aet
2010 and therefore il meets the definition of 8 Charitable Company for UK corporation tax purposes.
Accordingly, the Charity is potentially exempl 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 Section
256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are
applied exclusively to charitsble purposes.
2.8 Tangible fixed assets and depreciation
Tangible fixed assets are initially recognised at cosl. After recognition, under the cost model, tangible
fixed assets are measured at cost less accumulated depreclation and any accumulated impairment
losses. All costs incurred lo bring a tangible fixed asset into its intended working condition should be
included in the measurement of cost.
At each reporting date the Company assesses whether there is any indication of impairment. If suth
indication exists, the recoverable amount of the asset is determined to be the higher of it5 fair value
less costs lo sell and ils value in use. An impairment Ios5 15 re¢ognlsed where the carrying amount
exceeds the recoverable amount.
No value is attributed to burial grounds owned by the Company as the origlnal cost is not known and
due to the nature of the asset it is not cpn$idered possible to determine a falr value.
Depreciation is charged so as lo allocate the cost of tangible fixed assets less their residual value
over their estimated useful lives.
Depreciation is provided on the following basis:
Freehold propety
Fixtures and fittings
Computer equipment
20A straight line"
150A straight line
330A straight line
The depreciation charge for freehold property is £nil due to the ￿SIdUal value of the properties
being assessed at a value at least equal lo cost.
No depreciation is charged on the freehold land.
Page 20

THE HEART OF ENGLAND BAPTIST ASSOCIATION
IA Company Limlted by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 310ECEMBER 2022
Accountlng pollcles Icontlnuedl
2.9 Investments
Fixed asset investments are a fom of fin8nclal Instrument arKI are initially recognised al their
Irans8Ction cost and subsequently measured at fair value at the balance sheet dale. unless the value
cannot be measured reliably in which case il is measured at cost less impairment. Investment gains
and losses, whether realised or unrealised, are combined and presented a$ gainslllosseg) on
inveslmenls, in the Slalemenl of Financial Activities.
2.10 Debtors
Trade and other debtors are recognised at the settlement amount after any trade discount offered.
Prepayn)ents are valued at the amount prepald.
Loans to churches are concessionary loans made In furtherance of the Charitys purposes. Loans
are recognised at 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 maturity
of three months or less from the dale of acquisition or opening of the deposit or similar account.
2.12 Llabllltles and Provlslons
Liabilities are recognised when there is an obligation al the balance sheet date as a result of a past
event, it is probable that a transfer of economie benefit will be required in settlement, and the amount
of the settlemenl can be estimated reliably.
Liabilities are reeognised at the amount that the Charity 8ntlcipates it will pay to settle the debt or the
amount it has received as advanced payments for the goods or services il must provide.
Provisions are measured at the best estimate of the amounts required lo settle the obligation. Where
the effect of the time value of money is m8teri81, the provision is based on the present value of those
2mounls, discounted al the pre-tax discount rate that reflects the risks specific to the liability. The
unwrnding of the discount is recognised in the Statement of Financial Activltles as a finance cost.
2.13 Financial instruments
The Charity only h88 financial assets and financial li8bilitiey of a kind that qU81ify as basic financial
instruments. Basic financial instruments are initialty recognised at transactlon value and subsequently
measured at their Settlement value.
2.14 Operating leases
Rentals paid under operating leases are charged to the Statement of Flnancial Activitles on a straight
line b8sis over the lease temi.
Page 21

THE HEART OF ENGLAND BAPTIST ASSOCIATION
IA Company Llmited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
Accounting policies {continuedl
2.15 Pension$
The Charity participates in a defined contribution plan for ils employees. A definod contribution plan is
a pension plan under which the Charity pays fixed contributions into a separate entity. Once the
contributions have been paid the Charity has no further payment obligations. The contributions are
recognised as an expenditure 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 independendy
administered fund.
Prior to 2012, the pension provision was made through two multi-employer defined benefit pension
plans. Where it is not F)ossible for the Charity to obtain sufficient Infomialion to enable it lo account
for a plan as a defined benefit plan, it accounts for the plan as a defined contribution plan. Where the
plan is in deficit and where the Charity has agreed. with the plan. lo participate in a deficit funding
arrangement, the Charity recognised a liability for this obligation. The amounl recognised is the net
present value of the contributions payable under the agreement that relate to the deficit. This amount
15 expensed in the Statement of Financial Aclivilies.
2.16 Fund a¢counting
General fijnds are unrestricted ftjnds which are available for use at the discretion of the Trustees in
furtherance of the general objectives of the Charity and which have not been designated for other
purposes.
Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular
purposes. The aim and use of each designated fund is set out in the notes to the financial
statements.
Restricted funds are funds which are to be used in accordance With specifi¢ restrictions imposed by
donors or whieh have been raised by the Charity for particular purposes. The costs of raising and
administering such funds are charged against the specific fund. The aim and use of each restricted
fund is set out in the notes to the financial statements.
Investment income, gains and losses are allocated to the appropriate fund.
Critical accounting estimates and areas of judgement
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 reasonable under th8
C4rcumstances.
Judgements in applwng the enlitWs accounting policles..
Mulli-employer defined benefit pension schemes - certain employees participate In mulli-employer defined
benefit pension schemes with other org8nis8tlons. In the judgement of the Trustees. the Charity does not
have sufficient infomialion on the plan assets and liabilities to be able to reliably account for its share of
the defined benefit obligation and plan assets. Therefore the schemes are accounted for as defined
contribution schemes.
Page 22

THE HEART OF ENGLAND BAPTIST ASSOCIATION
IA Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
Critlcal accounting estirnates and areas of judgement Icontinuedl
Critical accounting estimates and assumptions:
Mulli*mployer defined benefit pension scheme - the Charlty has an obllgalion lo pay a deficlt funding
arrangernenl in respect of Iwo-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
factors 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 economic lives and residual values are re-assessed annually. They are amended
when necessary lo reflect current estimates, based on economic utilisation, physical condilton and future
investments of assets.
Income from donatlons and legacie$
Unrestrlcted
funds
2022
Total
funds
2022
Donations
Donations
5,343
5,343
Subtotal detalled dlsclosure
5.343
5,343
Home Mission Fund Granl
Home Mission Grant for mission
106.511
120,108
106,511
120.108
Total 2022
231,962
231.962
Page 23

THE HEART OF ENGLAND BAPTIST ASSOCIATION
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
Income from donatlons and legacies {continuedl
Unrestricted
funds
2021
Total
funds
2021
Donations
Donations
Donated assets
200
200
Subtotal detsiled disclosure
200
200
Home Mission Fund Grant
Home Mission Grant for mission
123,032
120.149
123.032
120,149
Total 2021
243,381
243,381
Income from charitable activities
Unreslricted
funds
2022
Total
funds
2022
Ministers. Conference
Other activities
12,022
29.704
12.022
29,704
Total 2022
41,726
41.726
Unrestricted
funds
2021
Total
funds
2021
Ministers, Conference
Other activities
10
10
37.500
37.500
Total 2021
37,510
37,510
Page 24

THE HEART OF ENGLAND BAPTIST ASSOCIATION
(A Cornpany Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
Investment income
Unrestricted Restrlcted
funds
funds
2022
2022
Total
funds
2022
Retired Minister Housing Income
Dividends and bond interest
Interest on loans
1,610
115,395
5,108
6,718
115,395
320
320
Total 2022
117,005
5,428
122,433
Unreslricled
funds
2021
Restricted
funds
2021
Total
funds
2021
Retired Minister Housing Income
Dividends and bond interest
Interest on loans
10.550
112.655
502
6,669
17.219
112,655
1,285
783
Total 2021
123.707
7.452
131,159
Other Incomlng resources
Unrestricted
fund5
2022
Total
funds
2022
PayToII service
Other activities
12,986
32,024
12.986
32.024
Total 2022
45,010
45.010
Page 25

THE HEART OF ENGLAND BAPTIST ASSOCIATION
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
other incoming re$ources (contlnuedl
Unrestricted
funds
2021
Total
funds
2021
Payroll service
Other activities
12,399
232
12,399
232
Total 2021
12,631
12.631
Expendlture on ralsing funds
Unrestricted
funds
2022
Total
funds
2022
Payroll scheme expenses
Interest on funds held for churches
9.379
31,516
9.379
31,516
Total 2022
40.895
40.895
UnTrstricted
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
Page 26

THE HEART OF ENGLAND BAPTIST ASSOCIATION
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
Investment management costs
Unrestricted
funds
2022
Total
funds
2022
Inveslmenl management fees
14,881
14,881
Unrestricted
funds
2021
Total
fvnds
2021
Investment management fees
18,458
18.458
10. Analysis of expenditure on charitable activities
Summary by fund type
Unrestricted Restricted
funds
funds
2022
2022
Total
2022
Regional Ministry Team
Grants
157,190
140.369
4,536
13,604
237,628
157.190
155,690
4.536
13,604
245,588
15,321
Subscriptions
Minislerfs Conference
AssoGialion Activities
7,960
Total 2022
553,327
23,281
576.608
Page 27

THE HEART OF ENGLAND BAPTIST ASSOCIATION
(A Company Limited by Guarantee}
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
10. Analy51$ of expendlture on charitable activltles l¢ontinuedl
Summary by fund type (contlnued)
Unrestricted
funds '
2021
Restricted
funds"
2021
Total
2021
Regional Ministry Team
Grants
Subscriptions
Minister's Conference
Association Activities
145.619
226,107
2,142
4,971
203.826
145,619
237,481
2,142
4,971
218.612
11,374
14,786
Total 2021
582,665
26,160
608,825
The groupings of expenses in respect of each fund have changed lo provide a clearer analysis,
therefore the prior year numbers have been reclassified.
11. Analysis of gxpenditure by activitles
Activities
undertaken
directly
2022
Grant
funding of
activitles
2022
Support
costs
2022
Total
funds
2022
Regional Ministry Team
Gr8nts
Subscriptions
Minister's Conference
157.190
157.190
155.690
4.536
13,604
245,588
155.690
4,536
13,604
7,960
Association Activities
237,628
Total 2022
183.290
155.690
237,628
576.608
Page 28

THE HEART OF ENGLAND BAPTIST ASSOCIATION
(A Company Llmlted by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
11. Analysis of expenditure by acttvities {continued)
Activities
undertaken
directly
2021
Grant
funding of
activities"
2021
Support
costs.
Total
funds
2021
2021
Regional Minislry Team
Grants
Subscriptions
Minister's Conference
145,574
45
145,619
237.481
2.142
4,971
218,612
237,481
2,142
4,971
14,786
Association Activities
203.826
Total 2021
167,473
237,481
203,871
608,825
A detailed analysis of grants paid during the year is included at Appendix 1.
The groupings of expenses in respect of each fund have changed to provide a clearer analysis,
trterefore the prior year numbers have been reclassified.
Analysis of direct costs
Regional
Ministry
Ministerfs Assoclatlon
Team Suberiptions Conference
Activitles
2022
2022
2022
2022
Total
funds
2022
Staff costs
Minister's conference
Regional MinistyTeam
Subscriptions
Association activities
125,122
125,122
13,604
30.540
4,536
7,960
1.528
13,604
30,540
4,536
7,960
Finance cost (pension deficit)
1,528
Total 2022
157.190
4,536
13,604
7,960
183,290
Page 29

THE HEART OF ENGLAND BAPTIST ASSOCIATION
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
11. Analysis of expenditure by activities Icontlnuedl
Analysis of direct costs Icontinuedl
Regional
Ministry
Team
2021
Ministerfs Association
Subscriptions Conference
Activities
2021
2021
2021
Total
funds
2021
Staff costs
Ministerfs conference
Regional Ministry Team
Subscriptions
Association activities
Finance cost (pension deficit)
119,721
119,721
4.971
24,561
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
Analysis of support costs
As res18ted
Total
funds
2021
Total
funds
2022
Staff costs
Depreciation
Regional Ministry Team
Payroll scheme expenses
Premises costs and adminlstr8tion
Other staff costs including tr8ining
Property
Working groups
119,770
113,067
3.189
45
1,387
19.588
11.410
15.619
2.976
12.908
1.331
17.867)
36.561
18.000
1,467
28.578
3.837
4,822
633
9,545
837
12.642
34,118
16,548
{25.4571
Board expenses
Legal and professional
Olher
Audit and accountancy fees
Profit on disposal of fixed asset held for sale
237.628
203,871
Page 30

THE HEART OF ENGLAND BAPTIST ASSOCIATION
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
12. Audltors. remuneration
The auditors, remuneration amounts to an auditor fee of £15,00012021'. £10,200), and non audit services
of £3.00012021- £1.8001.
13. Staff costs
2022
2021
Wages and salaries
Social security costs
Pension costs Inole 26)
207,727
13,522
23.643
195.920
13,464
23,404
244,892
232.788
The average number of persons employed by the Company during the year was as follows..
2022
No.
2021
No.
No employee received remuneration amounting to more than £60,000 in either year.
During the year the Rev A Argile. a Trustee of the Charitable Company, received remuneration for his
role as Region81 Minister Team Leader and travel expenses in connection with that role. He was not
remunerated for Trustee duties. The cost lo the Charity of the remuneration Igross pay plu5 employer's
national insurance and pension) was £42.268 (2021.. £41,699) and expenses were £1,501 {2021'.
£3,190).
Key Management Personnel of the Charity are considered to be Ihe Trustees. No other Trustee received
any remuneration.
14.
Trustses. remuneration and expensgs
During the year, no Trustees reGgived any remuneration or other benefits 12021= £Nill, 9xcept a5
disclosed above.
During the year ended 31 December 2022, expenses tolalling £1,331 were reimbursed or paid directly to
4 Trustees (2021.. £837 10 7 Trusleesl.
Page 31

THE HEART OF ENGLAND BAPTIST ASSOCIATION
IA Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
15. Tangible fixed assets
Freehold Fixtures and
property
rittings
Computer
equlpment
Total
Cost or valuation
At 1 January 2022
Additions
Disposals
1,130,876
380.857
12.756
6,305
11,414
5.983
1599)
1.155.046
393.145
1599)
At 31 December 2022
1.511,733
19.061
16,798
1.547.592
Depreclation
At 1 January 2022
Charge for the year
On disposals
6,459
4,264
{5991
15,763
5,945
{5991
1,681
At 31 December 2022
10.985
10,124
21,109
Net book value
At 31 December 2022
1.511.733
8,076
6.674
1,526,483
At 31 December 2021
1.130.876
3,452
4,955
1,139,283
16.
Fixed asset investments
Other fixed
Listed
asset
Investments investments
Total
Cost or valuation
At 1 January 2022
Additions
2,986.944
185,382
1111,149)
1368.377)
50,047
3,036,991
185,382
1132,7341
1368,3771
17871
Disposals
Revaluations
Foreign exchange movement
121.585)
1792)
Al 31 December 2022
2,692.805
27.670
2.720,475
Page 32

THE HEART OF ENGLAND BAPTIST ASSOCIATION
(A Company Llmlted by Guarantee}
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
16.
Fixed asset invgstments Icontinuedl
All fixed asset investments are held in the UK.
Subsidiary undertaking..
The CST Corporale Trustee Limited (Company number 114543131, a Company limited by guarantee, is a
subsidiary by virtue of the Charity being the sole member.
Ils sole purpose is to act as a corporate Trustee in respect of the assets of the Cannon Street Trust.
The subsidiary is not material lo the Group and has therefore not been Included in the financial
statements.
17. Debtors
2022
2021
Trade debtors
10,195
130.347
4.365
2.849
140,564
28,906
Other debtors
Prepa￿ents and accrued income
144.907
172.319
Included within other debtors are loans lo churches of £130,347 {2021= £140,564) which are generally
expected to be received after one year.
18.
Current asset investments
2022
2021
Deposits held on behalf of ¢hurGhes
80,315
177,892
Page 33

THE HEART OF ENGLAND BAPTIST ASSOCIATION
{A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
19. Creditors: Amounts falllng due within one year
2022
2021
Trade creditors
Other laxatr'on and social security
Other creditors
Accruals and deferred income
7.975
6.476
2,183,951
56.270
3.164
6,948
2,126,617
29.412
2,254,672
2.166,141
Included within other creditors is an amount of £2,183,951 {2021.' £2,126,167) held on behalf of certain
churches 2nd the Cannon Street Trust. The churches are required to give due notice before withdrawal of
these amounts.
20. Credltors: Amounts falllng due after more than one year
2022
2021
Other creditors
4.000
4.000
Other creditors represents a contribution to Retired Houging which is an equity contribution by the lenanls
which is repayable on the sale of the property at Clee View, Bridgnorth.
Page 34

THE HEART OF ENGLAND BAPTIST ASSOCIATION
(A Company Llmlted by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
21. Statement of funds
statement of funds - current year
Balance at
31
Gainsl December
Ilossesl
2022
Balance at 1
January
2022
Transfers
Inlloutl
Income Expenditur
Deslgnated
funds
Church
Resources Fund
Minister's
Resources Fund
Regional
ini51ry Fund
Mission
Development
Monkspath Fund
Mission Grant
Funds
Pension reseNe
41,934
1300)
41,634
36.955
12,3121
186,543
186.543
364,017
90.387
155.921)
38,697
346,793
90,387
120.108
(81,411)
(38,6971
45,829
45.829
765,665
120,108
1139,944>
745.829
General funds
General Funds
1.013.193
315,S95
(469.159)
(295,7171
563.912
Total
Unrestricted
funds
1,778,858
435.703
{609.1031
1295.717) 1,309,741
Page 35

THE HEART OF ENGLAND BAPTIST ASSOCIATION
(A Company Llmlted by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
21. Staternent of funds Icontinuedl
Balance at
31
Galnsl December
Ilossesl
2022
Balance at 1
January
2022
Transfers
Inl{outi
Income Expenditure
Restricted
funds
Atch Lench
Baptist Trust
Heart of England
Loan Fund
Helen Youth
Fund
Retired Ministers
& Missionaries
Housing Fund
Westmancolg
Baptist Trust
Benevolent Fund
FlocKI Fund
17,069
(15.3211
1.748
850,863
850,863
1.581
1,581
525.474
5,108
{7.131}
523.451
12.390
728
6,324
12.390
219
6,324
320
1829)
1.414.429
5,428
(23.2811
1,396.576
Total of funds
3,193,287
441,131
1632,3841
1295.717) 2,706,317
Page 36

THE HEART OF ENGLAND BAPTIST ASSOCIATION
(A Company Llmlted by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
21. Statement of funds Icontinuedl
Statement of funds - prior year
Balance al
31
December
2021
Balance at
1 January
2021
Transfers
inl{oull
Gainsl
Ilosses)
Income Expenditure
Designated
funds
Church
Resources Fund
Ministerfs
Resources Fund
Regional
Ministry Fund
Mission
Development
Monkspath Fund
Mission Grant
Funds
Pension reserve
44,734
12,8001
41.934
38,205
{1.2501
36,955
186,588
(45)
186,543
493,279
90,387
187,081 }
{42,181}
364.017
90,387
120.149
1162,3301
{20,600)
42,181
66.429
45.829
919,622
120.149
(274,106}
765,665
General funds
General Funds
883,488
297.080
{347.410)
180.035
1,013,193
Total
Unrestrictèd
funds
1,803,110
417.229
1621,5161
180.035
1,778,858
Page 37

THE HEART OF ENGLAND BAPTIST ASSOCIATION
IA Company Lirnited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
21. Statemgnt of funds Icontinuedl
Balance at
31
December
2021
Balance at
1 January
2021
Transfers
inllouti
Galnsl
Ilossesl
Income Expenditure
Restrlcted
funds
Atch Lench
Baptist Trust
Heart of England
Loan Fund
Helen Youth
Fund
Retired Ministers
& Missionaries
Housing Fund
Westmancote
Baptist Trust
Benevolent Fund
Flood Fund
28,443
111,3741
17.069
850.863
850,863
1.581
1,581
532,698
6,669
(13.8931
525,474
12,390
838
12.390
728
6,324
783
18931
6.324
1,433,137
7,452
(26,1601
1.414.429
Total of funds
3.236,247
424.681
{647,6761
180.035
3.193.287
Page 38

THE HEART OF ENGLAND BAPTIST ASSOCIATION
(A Company Lirnited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
22. Analysis of net assets between funds
Analysls of net assets betsveen funds - current year
Unrestrlcted Restrlcted
funds
funds
2022
2022
Total
funds
2022
Tangible fixed assets
Fixed asset investments
Current assets
1,526,483
1.526,483
2,720,475
2,720,475
12,866,496) 3,584.527
718,031
170.7211 {2.183,9511 12.254.672)
14,0001
{4,000)
Creditors due wlhin one year
Creditors due in more than one year
Total 2022
1.309,741
1,396,576
2,706,317
Analysis of net assets between funds - prior year
Unrestricted
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
3.036.991
16.485
1,252,269
1,268,754
139.5241 12,126,617) 12,166,141)
{4,0001
{4.0001
{81,600)
{81,600}
Totsl 2021
1.778.858
1.414,429
3,193,287
Page 39

THE HEART OF ENGLAND BAPTIST ASSOCIATION
IA Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
23.
Reconciliation of net movement in funds to net cash flow from operatlng activities
2022
2021
Net expenditure for the year las per Statement of Financial Activiliesl
{559,6301
147,944)
Adjustments for:
Depreciation charges
Lossesllgains} on investments
Dividends, interests and rents from investments
Gain on the sale of fixed assets
Decrease in debtors
Increase in creditors
Defined benefit scheme financ8 Cost adjustment
5.945
3.189
368,377
1175,0511
1122.433) 1131.1591
{25.4611
35,807
93,709
1.292
27.412
88.531
1.528
Net cash used In operatlng actlvltles
{190,2701 (245,6181
24. Analysis of cash and cash equivalents
2022
2021
Cash in hand
492.809
107.985
918.543
227,938
Notice deposits (less than 3 months)
Totsl cash and cash equivalents
600.794
1,146,481
25.
Analysis of changes in net debt
At1
January
2022 Cash flows
At31
December
2022
Cash at bank and in hand
918.543
227.938
1425,734)
{119,953)
492.809
107.985
Liquid investments
1,146,481
1545,68n
600.794
Page 40

THE HEART OF ENGLAND BAPTIST ASSOCIATION
IA Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
26.
Penslon commitments
The Assoclalion 15 3 participating employer the Baptist Pension Scheme I'the Scheme"), which is a
sep8rate legal entity administered by the Pension Tnjstee (Baptist Pension Trust Limited). The assets of
the Scheme are held separately from those of the Employer and the other participating employers.
The Scheme, previously known as the Baptist Mlnlslers, Pension Fund, started in 1925, but was closed lo
future accrual of defined benefits on 31 December 2011. Prior to this date the main benefit provided
through the Defined Benefit IDBI Plan was a pension of one eighlielh of final minimum pensionable
income for each year of penslonable Servi￿ together with additional pension in ￿SpeCt 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 6/0 of
members. Penslonable Income into individual pension accounts, which are operated and managed on
behalf of the Penslon Trustee by Broadstone Corporate Benefrts Ltd. In addition, the employer pays a
further 40A of Penslonable Income lo cover Death in Service Benefits. administration costs, and an
associated insurance policy which provides income protection for Scheme members if they are unable to
work due to long-term incapacity. This income protection policy has been insured by the Baptist Union of
Great Bfftain wrlh Aviva Limited. Members of the Basic Section pay reduced contributions of 50h of
Penslonable Income, and their employers also pay 8 total of 5./0.
The Scheme is ¢onsidered lo be a multi-employer scheme as described in Section 28 of FRS 102.
Because it is not possible to attribute the Scheme's assets and liabilities lo specific employers. the
scheme Is aceounted ft)r as if the Scheme were a defined contribution scheme.
The Regional Minlsters and members of the Association staff team are eligible to join the Scheme.
The 18ble below summarises the main results of the most re￿nt acluaTial valuations of the BUSPS and
the Defined Benefit IDB} Plan in the BPS. These valuations were performed by a profession811y qualified
Actuary using the Projected Unit Method-.
BPS DB Plan
31 December 2019
31 December 2022
£298m
BUSPS
1 January2017
NIA scheme is in wind-up
£10.3m
Date of valuation
Date of next valuation
Market value of scheme assets
IA)
Technical provisions {B}
Deficit l(Bl - {A}I
Funding level l(A) 1 {81]
£316m
£18m
94Q/o
£16.2m
£5.gm
64Yo
Page 41

THE HEART OF ENGLAND BAPTIST ASSOCIATION
(A Company Llmited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
26. Pension commitments Icontlnued}
Section 28.11A of FRS 102 requires agreed deficit recovery payments to be recognised as a liability. The
movement in the provision is sel out in the table below.
2022
2021
Balance Sheet liability at year start
Minus deficiency contributions paid
Interest cost Irecognised in SOFA)
Remaining change lo balance sheet liability, {recognised in SOFA)
81,600
{10,4681
1,528
{72,6601
102,969
117,6771
1,292
14,9841
Balance Sheet Ilablllty at year end
81.600
Comprises any change in agr89d deficit recovery plan and change in assumptions between year-ends.
Rewvery Plan
In addition to the contributions to the DC Plan set out above, where a valuation of the D8 Plan reveals a
deficit the Trustee and the Council agree to a rate of deficiency contributions from churches and other
employers involved in the DB Plan. Following the 2019 valuation a Recovery Plan was signed in
September 2020 under which deficiency contributions are payable until June 2026. These contributions
were broadly based on each employer's membership al 31 December 2014 and increase annually in line
with increases lo Minimum Pensionable Income as defined in the Rules.
On 30th June 2022 the Baptist Pension Scheme signed an agreemgnt with the insurance company Just
Group l°Just") to secure DB Plan member5, pension benefits. Just are now providing financial backing for
all pensions provided through the Scheme's DB Plan and following this Iransaclion, the Scheme no
longer has a shortfall. An updated Recovery plan was then signed in August 2022 under which recovery
contributions from each participating employer in th8 DB Plan reduced lo £1 per Month from August
2022.
The key financial assumptions underlying the valuations were as follows:
Type of assumption
BPS
°/0 pa
BUSPS
°hpa
RPI price inflation assumption
3.20
CPI price inflation assumption
2.70
Minimum Pensionable Income Increases (BPS only) 3.20
Pensionable Salary increase IBUSPS only)
NIA
Assumed investment returns
Pre-reliremenl
Post retirement
Deferred pension increases
Pre April 2009
Post April 2009
Pension increases
Pre April 2006
Post April 2006
3.45
2.70
NIA
3.70
2.95
1.70
3.50
2.25
3.20
2.50
3.45
2.50
2.70
2.70
3.25
2.15
Page 42

THE HEART OF ENGLAND BAPTIST ASSOCIATION
{A Company Llmlted by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
Mortality is assumed in accordan￿ with 800A of the S3NA standard mortality table. Future improvements
projected from 2013 in line with the "CMI 2019. projection with a long-term rale of improvement of 1.75%
p.a. for males and 1.50￿ p.a. for femaleswith the core Smoothing parameter and with adéltional initial
mortality improvement factor A=0.5Yo.
The next actuarial valuation of the DB Plan withln the Scheme will commence in 2023 to reflect the
position as at 31 December 2022.
As there are numbers of contributing employers participating in both the BPS and the BUSPS, the Charity
is unable to identify ils share of the undertyTng assets and liabilities of the schemes. Accordingly, the profit
and loss charge for the period represents the employer contributions payable. The lolal pension cost for
the Charity in the year were £23,643 {2021.. £23,404) for the BPS.
27. Operating lease commltments
Al 31 December 2022 the Company had commitments to make future minimum lease payments L¢nder
non-cancellable operating leases as follows..
2022
2021
Not later than 1 year
Later than 1 year and not12ler than 5 years
414
732
6.210
4,554
4.968
6,942
Page 43

THE HEART OF ENGLAND BAPTIST ASSOCIATION
IA Company Llmlted by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
28. Related party transactlons
The Charity is a member of the Baptist Union of Great Britain and is in receipt of grants from the Home
Mission Fund which is part of the Baptist Unlon. Grants of £226.619 12021.. £243.181 } were received in
this respect.
Tnjstees of the Charity are drawn from the membership of the local Baptist Churches and there are
therefore, from lime to time. grant awards made lo benefit either the individual or the church. There is a
fom)al process in relation lo grant applications which helps lo ensure that any Conflict of interest is
mlligaled by the exclusion of the conflicted individual in the decision making process.
The CST Corporate Trustee LlmSted
The CST Corporate Trustee Limited is a trust corporation constituted as a Company limited by guarantee
of which The Heart of England Baptist Association is the sole member and director.
Included within other creditors is an amount of £464,42412021'. £462.630) held on behalf of the Cannon
Street Trust.
The Cannon Street Baptlst Chapel Trust
The following church buildings. all within Birmingham. except Smethwick. are held on the CST118771
according to the terms of that Trust. The buildings are occupied by the churches on the equivalent of fully
insuring and repairing leases al a peppercorn rent The 'leases' expire when the churches no longer
require the propety-
Birmingham Central Baptlst Church
Cannon Street Memorial Church
Castle Bromwich 8aptisl Church and Manse
Church of the Redeemer
City Road Baptist Church
People's Chapel
Small Heath 88Ptist Church
Smethwick Baptist Church
strdfford Road Baptist Church
The Heart of England Baptist Association is in the process of Iransf9rring the trusteeship of the churches
held on the Cannon Street Trust to The CST Corporate Trustee Limited.
The properties already transferred are'.-
Birmingham Central Baptist Church
City Road Baptist Church
Small Heath Baptist Church
Smethwick Baptist Church
Umbgrslade Endowment Charlty
The Trustees of The Heart of England Baptist Association are also Trustees of the above named Charity
which is registered with the Charity Commission. There are no transactions be￿een the Iwo entities but
The Heart of England Baptist Association oversees the activity of the Charity.
Page 44

THE HEART OF ENGLAND BAPTIST ASSOCIATION
IA Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
29. Controlling party
The Charity is ullim8tety controlled by the Board of Trustees.
30. Cornpany1Smlted by guarantee
The Charity is a Company limited by guarantee and does not havè share capitsl.
Page 45

HEARTQF ENGLAND BAPT15T ASSOaATION
Appendi¥ l-GraThts Paldthrin¥thèyear
De518nated
fmm MIs510r15
Gyat
Grantstochurthes
Vnrestrlcted
Restrlrted
2022Total
2021Total
Afvethurch
B3Lldelty Ed8e
BeirwDDd
Black Counrry Urban Industrfal Mlssion
Chelmsley WoDd
Cornerstone. 05westry
0a￿house
Oéwley
Oelve5, wakall
300
7,796
7.7%
7,718
6,188
2,475
3.713
6,188
2,475
3,713
6,000
5.104
3.675
6,125
&943
6,12S
4,550
5.716
11.374
6.125
9,188
S,250
6,319
11,025
5,2SO
2.000
1,089
L(NJO
7,962
4.￿0
8,587
7,656
4,IZ5
4,125
Ewyès Hardd
3.589
3.589
15,321
6,188
4,873
15,321
Gatewayto Hopè
fjeorge Roadcommunity Churth
¢l&bè Farm
GIEbE Firm Pioneer
Greèn Lène,Walsall
Keelè University LEP
Kings Cofflmunity Churth
Limbri¢kWood, Co¥er*try
Lentons Lane 8C
Londonderry
Madeley
Newport
Putson
Radfvrd Semele
Ri5inB BrDok re. PioneerGrant
Ri5in8 Brtbtsk re. MinSstryarnongthe Oeaf
SiMWaVS re. Castlevale Projert
SiMW&ys re. Castlevale Projert
SiYWaVS re. Castlevale Project
$meth￿ck re. 8CUIM
Stoke
Warlèy
Warley
w￿neSb￿V
Wolston
Wolvey
Yardleywood
6,188
4,873
15,321
15,311
5500
5,500
3,3
3,300
330
330
425
8,692
8,692
11917
25.50D
5.9Z8
12.2$0
1.144
1.640
4.594
I,ooo
6,125
6,125
3￿63
4,125
4,125
IS,629
15,629
1,021
8,251
J,021
8J51
3,611
15Q)
500
Grnntstolndlvlduals
Rev. Kirsteen Maraulav
Rev. Neil BennEt
Rev. Peter M?y¢otk lQuèèrnS Foundalonl
Rev. Simon Harry
Rev. LeDnèMarbn
Churchfrom Scrntch project
50D
329
I,th)D
312
500
L.OC
312
5WJ
Iw)
Grants toOrgan15atton5
8.C.C.E. & C.L.A.S.P.
ChurchEslnLI Sroup Blrmin8ham
ChurchE5 together in Shropshlre
ChurchES ttsgether In Hereford
8irmingham Churche5Together
Faith at Workln Worcestershire
Telford ChristlansTogether
Urban Expression
West Mi65 FE Chaplaincy
Workcare
Ministry amongthÈ Deat Expense5
Telford ChriStiansTogether
638
638
2,0
2,0
750
S,360
5,625
4,50D
6.250
1,50D
7.OOD
1.854
392
2,000
750
750
4,875
092
4,87S
8,092
L500
5.250
J,500
5,2SO
24,457
24.457
27.194
108.772
15.3ZI
180,147
26L615

THE HEART OF ENGLAND BAPTIST ASSOCIATION
APPENDIX 2 . PROPERTIES FOR WHICH HEBA WAS OWNER/HOLDING TRUSTEE
31.12.2022
CST= Cannon Street Trust
C- Conservation area L= Llsted
Name
Details
Acocks Green
Chapel, School Hall, Manse
Alvechurch
Chapel, Schoolrooms, land at rear, Manse
Attleborough
Church, other properties, Manse
Ashmore Park
Chapel, Hall
Austrey
Church Building5
8addeley Edge
Chapel
Baptlst Church Centre Handsworth
Church
Barnt Green
Chapel, land at rear
Manse sold 2023
Church and School Hall
8earwood
Bedworth
Chapel and School Hall, Manse
Bilston
Church and halls. Manse
Blnley Woods ILEPI
Manse
Bridgnorth
Chapel, Offices 7 West Castle Street
Brierley Hill
Chapel, Schoolrooms, Burial ground
Bromsgrove
Chapel and School Hall
Manse
Chapel and School Hall
Butt Lane, Stoke-on-Trent
Cannon Street Memorial CST
Church and Halls, House, Manse
Carters Lane
Chapel and School hall
Manse sold 2022
Church and Manse
Castle Bromwich
CST
Castle Hill. Warwick
Church, other properties. Manse
Catshill
Chapel and halls, burial ground, Manse
Cedar Church, Kingstanding
Chapel and Hall
Chadsmoor
Chapel. Schoolrooms
47

THE HEART OF ENGLAND BAPTIST ASSOCIATION
APPENDIX 2 . PROPERTIE5 FOR WHICH HEBA WAS OWNERIHOLDING TRUSTEE
31.12.2022
Chase
Chuch
Chelmsley Wood
Church Centre, Manse
Chester Road.
Chapel, Manse
Chorley
Chapel, Burial Ground
Church of the Redeemer
CST
Properties in Monument Road
City Road
Manse
Darkhouse
Chapel, School Hall and small burial ground
Graveyard, Bell St
Church. School Hall and Burial Ground, Manse
Dawlev
Donnington Wood
Chapel
Edward Rd
Chapel and Schoolrooms
Erdington, Six Ways
Chapel. School Halls, Manse
Ewyas Harold
Church, Manse and Lar)d adjoining
Far Forest
Church
Fenton
Chapel and School Hall
Fordhouses Wolverhampton
Chapel and school Hall, Manse
Four Oaks
Chapel and Halls, House
George Road Community Church
Church and hall
Grace Community Church
Church building and land abutting church
Grenfell
Chapel, Land adjoining, House
Hall Green Icristchurch LEPI
Chapel, Hall, Manse
Hope Stourbridge
Chapel. School Hall, Manse
Hanley, Stoke-on-Trent
Church Centre
Harborne
Church and Halls, other properties, Manse
Hearsall
Manse
Kenilworth
Church
48

THE HEART OF ENGLAND BAFfisT ASSOCIATION
APPENDIX 2 . PROPERTIES FOR WHICH HEBA WAS OWNER/HOLDING TRUSTEE
31.12.2022
Hlghgate
Church. hall and flat above.
Hockley Heath
Church Hall, land Adjoining
Kings Community Church
Church and Sthoolroom
Kings Norton
Chapel, School Hall and land adjoinin& Manse
Ledbury
Church, Manse and additional house
Lentons 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
Netherton, Ebenezer
Chapel and Schoolroom
Lodge Farm, Netherton
Church Hall
Messiah, Netherton
Burial Ground
New Christ Church, Aston
Chapel, Manse
Newbridge
Chapel, School Hall, Manse
Newcastle-under-Lyme
Church
New Life, Kings Heath
Church, Manse and 2 houses
Newport
Church Building and site
Northfield
Church and halls, manse, Other land
Olton
Offices 85 Warwick Road
Oswestry
Church BuSlding
Overslade
Church Hall
Peoples Chapel
CST
Church, Manse
Perry Beeches
Chapel
49

THE HEART OF ENGLAND BAPTIST ASSOCIATION
APPENDIX 2 . PROPERTIES FOR WHICH HEBA WAS OWNER/HOLDING TRUSTEE
31.12.2022
Providence
Chapel, and burlal ground, Manse
Polesworth
Church, School Hall and burial ground
Pontesbury
Chapel and Burial Ground, Manse
Rugby
Chapel and School Halls
St Peterfs Worcester
Church, Manse
Saltley
Chapel, Manse
Sandon Road, Stafford
Chapel and School Hall, 2 Houses
Selly Park
Chapel and School Hall, Manse Ico-trusteel
Shrew5bury
Claremont slte ICI.. Chapel
Crowmoor site.. Church
Chapel, Manse
Stechford
Stoke Baptist Church
Church,
Manse sold 2022
Church and site
Stratford Road
Tabernacle Wolverhampton
Chapel and School halls, car park, Manse
Tamworth
Chapel
Walsall, The Delves
Site. Chapel, Church Hall, Manse
Walsgrave
Chapel and School Hall, Manse
Warley
Chapel and School Halls and land adjoining, Manse
Wednesbury
Chapel, Manse
West Bromwich
Chapel, Manse
Westmancote Burial Ground
CC Order 2004. Co-Trustees with Official Custodian
Wolston
Chapel, Burial Ground
Word of Spirlt and Life Church.
Churth
Yardlev
School Hall, Manse
Yardleywood
Chapel, Manse
50