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2020-12-31-accounts

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EASTERN BAPTIST ASSOCIATION PAGE 9
ACCOUNTS FORTHBYEAR BNDBD 31DBCBMBBR2020
BALANCE SHEET
2020 2019
Notes
FIXEDASSETS
Tangible fixed assets
Investments		 1,090,150
3&0,204		 1,097,550
380,204
TOTA'L FIXEIyASSETS 1,470,3'54 1,477,754
~ASSETS
'
Debtors 43,791 58,415
Cash atbank and in hand 801,520 790,131
TOTAL CURRENT ASSETS 845,311 848,546
LIABILITIES
Creditors:
amounts
fhlling due
wlthhi
one year		 10 2,536 8,790
NET CURRENT ASSBTS 842,775 839,756
TOTAL ASSETS LBSSCURRENT LIABILITIES 2,313,129 2,317,510
Provisions for liabilities
and charges		 78,770 83,071
NBT ASSETS 2,234,359 '2&234&439
TIIBFUNDS OF THB CHARITY
Unrestricted
Income Funds		 1,727,844 1,541,822
Designated
Income Funds		 li 358,611 553,247
Restricted Incomo Funds 12 147,904 139,370
TOTAL CHARITY FUNDS 2,234,359 2,234,439
The trusteoM consider that ihe charitable
company		 is entitled to exemptian from the requirement to have an audit under the
provisions ofSection 477(1) ofthe Companies Act 2006, Members have not requh&sd the charitable company under Section
476ofthe Companies
Act 2006,to obtain an audit		 forthe year ended 31December 2020. The directors aoknowledge
their
responslblihies
for ensuring
that the charitable
ofthe Companies
Act 2006 and for preparing		 company keeps accounting recards which comply with Section 386and 387
financial statements
which give a true and fair view ofthe state ofaffairs of
the charitable
company
as at3i December 2020 and ofits deficit		 for lhe year then ended
hr accordance with the
requirements
ofSection 396aud which otherwise
comply witlt the requirements		 ofthe Aat rehiting to the financial
statements
as far as applicable
to tho charitable		 company,

2020 2019
Nates
CASH PROEM OPBRATING ACTTVTITBS
Net cash used in operating activities 15 (31PA2) 1,602
Cash flaws tram invtsst tug activities
Dividends,
interest
und rents		 42,631 28,881
Purchase offixe asset (498,000)
Net cash provided
by investing
activities		 42,631 (469,119)
Change in cash end cash equivalents
in the year		 , 11,389 (46'7,517)
Cash end cash equivalents
at		 the begirunng ofthe year 790,131 1457,648
Cash and cash equtvalents at the end ofthe year &01,520 790,131

INVESTMENT INVESTMENT INCOME - INCOME - INCOME - INCOME - CURRENT YEAR 2020
Unrestricted Designated Restricted Total
Funds Funds Funds Funds
f,
Bank interest 9,276 9,276
Baptist Insurance Company 601 201 802
Property rental 32,553 32,553
42,430 201 42,631
INVESTMENT INCOME - PRIOR YEAR 2019
Unrestricted Designated Restricted Total
Funds Funds Funds Funds
Bank interest 8,353 2 8,355
Baptist Insurance Company 601 200 801
Property rental 19,725 19,725
28,679 202 28,881
CHARITABLE ACTIVITIES -~YEAR 2020
Unrestricted Designated Restricted Total
Funds Funds Funds Funds
Ministry employment costs 112,917 112,917
expenses 7,872 7,872
Safeguarding Officer 2,471 2,471
Manse regular expenses 9,611 9,611
One offManse expenses 2,024 2,024
Manse repairs/services/rental 3,160 3,160
Mission 5,921 18,500 117,668 142,089
Establishment 9,776 83 9,859
Ministers
conference		 15,475 15,475
Other expenditure 1,223 5,878 7,101
I depreciation 7,400 7,400
177,850 18,500 123,629 319,979
Support Costs 2020
Unrestricted Designated Restricted Total
Funds Funds Funds Funds
f f,
Company
secretary's		 salary 21,604 21,604
Company
secretary's		 expenses 543 543
Independent
examiner's		 fees 1,398 1,398
Legal and statutory payments 989 989
24,534 24,534
Total Charitable Activities 202,384 18,500 123,629 344,513

CHAIUTABLE ACTIV1TIES CHAIUTABLE ACTIV1TIES CHAIUTABLE ACTIV1TIES - PRIOR YEAR - PRIOR YEAR - PRIOR YEAR 2019
Unrestricted Designated Restricted Total
Funds Funds Funds Funds
8
Ministry
employment		 costs 112,865 112,865
expenses 26,293 375 26,668
Manse regular expenses 7,115 7,115
One offManse expenses 33,500 33,500
Manse repairs/services/rental 8,662 8,662
Mission 7,416 16,725 111,540 135,681
Establishment 19,555 60 19,615
Ministers conference 13,431 375 13,806
Other expenditure 11,429 58,333 5,184 74,946
Depreciation 7,400 7,400
247,666 75 058 117534 440,258
Support Costs 2019
Unrestricted Designated Restricted Total
Funds Funds Funds Funds
Company
secretary's
salary		 21,122 21,122
Company
secretary's
expenses		 1,809 1,809
Independent
examiner's		 fees 1,794 1,794
Legal and statutory
payments		 3,677 780 4,457
28,402 780 29,182
Total Charitable
Activities		 276,068 75,838 117,534 469,440
TRUSTEE AND STAFF~RATION 2020 2019
The staff costs were:
Trustees (Regional Ministers) and support staff
Salaries 110,400 97,781
Social security costs 6,411 6,063
Pension costs 12,045 17,259
128,856 121,103
Average weekly number ofstaff employed during the year:
Full time
Part time



compensation
received by key managercent
includmg
benefits

compensation
received by key managercent
includmg
benefits		 is81095l2(201 9;flL 7955).
NBT INCOME FORTHE YEAR 2020 2019
8
Net htcorne for the year
Independent
examiner's		 ls stated after charging:
lees		 1.,398 1,794
TANGIBLE PIXED ASSETS - CURRENT YEAR Office and
computer Operadng
equipment property Total
COST
Balance at 1 January 202031st December 2020 3,779 1,104,950 1,108,729
DEPRECIATION
Balance at I January 2020 3,779 7,400 11,179
Depreciat1on charge 7,400 7,400
Balance at 31 December 2020 3,779 14,800 18,579
NBT BOOK VALUE
At 31December 2G2G 1,090,150 1,090,150
TANGIBLE FIXEDASSETS -PRIOR YEAR Office snd
computer Operating
equipment property Total
COST 6
Balance at 1 January 2019 3,779 606,950 '610,729
Additions 498,000 498,000
Balance at 31 December 2019 3,779 1,104,950 1,108,729
DEPRECIATION
Bahmce at I January 2019 3,779 3,779
Depreciation
charge		 7,400 7,400
Balanco at 31December 2019 3,779 7,400 11,]79
NET BOOK VALUE
At 31December 2019 1,097,550 1,097,550
EASTERN BAPTIST ASSOCIATI'ON PAGE 16
ACCOUNTS FORTHBYEARENDED 31DECEMBER 2MQ
NOTES TO THE ACCOUNTS
BookValue BookValue
OPERATING PROPERTY NET BOOK VALUB as at as st
31/12/2020 31/I2/2019
8 8
46 Churohill Road, Thetford 246,550 248,250
2 Buchanan Gardens, Wtckfurd 352,240 354,62Q
17Station Road 491360 494,680
1,090,150 1,097,550
8 INVESThBB4TS - CURRENT YEAR Freehold Unlisted
Property investment Total
6 8
hfarket value at I January 2020 377,000 3Q04 380,204
Market value at31December 2020 377,000 3,204 380,204
INVBSThIENTS - PRIOR YEAR Freehold Urdhted
Property
8		 investment
8		 Total
6
Market value at |January 2019 143,100 3,204 146,3Q4
Revaluation 233,900 233,900
Market value at31December 2019 377,000 3,204 380,204
Unlisted
investment
Baptist Insureds Company shares 2020
6'		 2,019
Loan @nd &01 801
General tbnd 2,403 2,403
3,204 3,204
9 DEBTORS:Due within one year 2020 2,019
8
.Loans toQuakes 43,791 57,191
Prepayments 1,224
43,791 58,415
10 CREDITORS: Due within onc year 2020 2,0f9
. . 6
Trade payables 1,1&6 1,760
Accruals 1,350 1,320
Deferred income hlinisters Conference 5,710
2,536 8,790

DESIGNATED FUNDS DESIGNATED FUNDS DESIGNATED FUNDS Brought Carried
-ClMENT YEAR forward Inoome Expenditure Movetri eat Thmsfers forward
8
Pension Reserve Fund 544,595 3,864 3,864 (295,000) 253,459
Manse Mamtenance 2 (2)
Pioneer 5,000 (5,000) 15,000 10,000
Mission 8,650 13,5GG (13,500) 100,002 95,152
553,247 3,864 18,500 (14,636) (180,000) 358,611
DESIGNATED FUNDS Brought Carried
-PRIOR YEAR forward Income Expenditure Movement Transfers forward
6 8
Pension Reserve Fund 490446 112,682 58,333 54,349 544,595
Manse Maintenance 2 2
Pioneer 13,426 10,000 (10,000) (3,426)
Mission 19,155 '7,505 (7,505) (3,000) 8,650
522,829 112,682 75,838 36,844 (6,426) 553,247
12, RESTRICTED FUNDS Brought Carried
-CUR1%NT YBAR forward Income Expenditure Movement Transfers forward
8
Holus Mtssion Fund 52,832 138,266 108,728 29,538 (IG,GG0) 72,370
Soutbmlnster
Fund		 60,432 197 9,029 (8,832) 51,600
Lay Mmistry Fund 9,985 570 1,260 (69G) 9/95
Church ofthe Year 365 633 1,000 (367) 2
Ministers' Benevolent Fund 3 373 1,260 1,872 (612) 665 3,426
Ministers Training Fund 12,383 570 1,740 (1,170) II/I 3
139,370 141,496 123,629 17,867 (9,333) 147,504
RBSTKCTED FUNDS Brought Carried
-PRIOR YEAR forward Income Expenditure Movement Transfers forward
Home Mission Fund 30,256 130,037 100,461 29,576 (7,000) 52,832
Souttuninster
Fund		 71,528 390 11,486 (1l,096) 60,432
14tyMinistry Fund 10,735 750 ' (750), 9,985
Church ofthe Year 400 474 509 (35) 365
Ministers'
Benevolent		 Fund 2,701 1,350 1,678 (328) 1,000 3373
Mlnlsters
Training		 Fund 15,033 2,650 (2,65G) 12,383
130,653 132,251 117,534 14,717 (6,000) 139,370

13, ANALYSIS OPNET ASSETS ANALYSIS OPNET ASSETS Unreantcted Totat
-CURRENT YEAR Funds Funds
8
TangibIe, fhced assets 1„090„150 1,090,150
Investments 379,403 801 3&0Q04
Net current assets 337,061 357,810 147,904 842,'775
Ptvrvisions
for liabilities		 and charges (78,770) (78,770)
1,727,844 358,611 147,9Q4 2$34$59
ANALYSIS OFNBTASSETS Unrestricted Designated Restricted Total
~PRIOR YEAR Funds Funds Punde Funds
Tangible axed assets 1,097,550 1,097,550
Investments 379,403 &01 380,204
Net current assets 147,940 552,446 139,370 839,756
Provisions for liabilities and charges (83,071) (83,071)
1,541,822 553,247 139,370 2,234,439
RECONCILIATION
OPNET MOVBMENT IN FUNDS TO		 RECONCILIATION
OPNET MOVBMENT IN FUNDS TO		 NET CASH PLOW FROM
OPERATING ACTIVITIES
2020 2019
Net income for the reporting period as per SOFA (80) 211,655
Adjustments
for:
Dividends,
interest and rants		 from investments (42,63 1) (28,881)
Depreciation 7,400 7,400
Decrease In debtors 14,624 50,565
Increase/(decrease)
in cmditors		 (6,254) 600
Increase/(decrease)
in pension provision		 (4,301) (5,837)
Gam/losses
ou revaluation		 (233,900)
Net cash used in operating
activities		 (31,242) 1,602 .

Type ofassumption NPa
RPI price inflation assumption 3,20
CPI price Inflation assumption 2.70
Minimum
Pensionable		 Income increases (CPI plus 1.0'/s pa) 3.20
Assumed
investment		 returns
-Pm-redrement 2.95
-Past retirement 1.70
Deferred pension inoreases
-Pre April 2009 3,20
-Post April 2009 2,50
Pension increases 2.70