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PK|p||||R"l||||
||g|||||||C||
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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|
##
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##
##
|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|
##
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##
##