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2021-12-31-accounts

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ACCOUNTS POR THE YEAR ENDED 31DECEMBER2021 ACCOUNTS POR THE YEAR ENDED 31DECEMBER2021 ACCOUNTS POR THE YEAR ENDED 31DECEMBER2021
BALANCE SHEET
2021
Notes 8 f
FIXEDASSETS
Tangible IIsed assels I,122450 1,090,150
lavestment 380304 380404
1402,454 1,470,354
CURRENT ASSEIS
Debtors 43,791
Cash at bank snd In hand 801,520
84531I
LIABILITIES
Ctadherc smotmts
gdiing due
within onc year 10 3418 2/36
NBT CURRENT ASSETS 700,342 S42,775
TOTAL ASSETSLESS CURRENT LIABILITIES 2302,796 MI3,129
Provisions
for liabllitke		 and charges 16 63,400 78,770
NET ASSETS 2,139396 2~$59
THBFUNDS OFTHECHARITY
V~ Income Funds		 1,738,442 l,727&844
Dcsigasud
Income Pueds		 II 272,895 35IL611
Restricted Income
Funds		 12 128,0$9 147,904
TOTAL CHARITY FUNDS 2,139396 2,234,359

2021 2020
Notes f,
CASH FROM OPERATING ACTIVITIES
Net cash used in operating activities 15 (134,685) (31,242)
Cash flows from investing activities
Dividends,
interest and rents		 41,934 42,631
Purchase offixed asset (39,500)
Net cash provided
by investing
activities		 2,434 42,631
Change
in cash and cash equivalents
in the		 year (132,251) 11,389
Cash and cash equivalents
at		 the beginning ofthe year 80],520 790,131
Cash and cash equivalents at the end ofthe year 669,269 801,520

GRANTS AND DONATIONS GRANTS AND DONATIONS - CURRENT YEAR 2021
Unrestricted Designated Restricted Total
Funds Funds Funds Funds
Baptist Union Grants 113,432 104,706 218,138
Other grants and donations 1,868 2,298 4,166
Preaching fees and expenses 5,797 5,797
Ministers Conference 2,070 2,070
Gift Aid 300 300
Training courses 915 915
124,382 107,004 231,386

2. GRANTS AND DONATIONS -PRIOR YEAR 2020
Unrestricted Designated Restricted Total
Funds Funds Funds Funds
6
Baptist Union Grants 129,335 119,386 248,721
Other grants and donations 5,629 3,663 20,723 30,015
Preaching fees and expenses 4,234 50 4,284
Ministers Conference 15,190 15,190
Gift Aid 1,015 1,015
Training courses 1,240 1,337 2,577
156,643 3,663 141,496 301,802
2021
INVESTMENT INCOME - CURRENT YEAR Unrestricted Designated Restricted Total
Funds Funds Funds Funds
6
Bank interest 8,157 8,157
Baptist Insurance Company 801 801
Property rental 32,976 32,976
41,934 41,934
INVESTMENT INCOME - PRIOR YEAR 2020
Unrestricted Designated Restricted Total
Funds Funds Funds Funds
Bank interest 9,276 9,276
Baptist Insurance Company 601 201 802
Property rental 32,553 32,553
42,430 201 42,631

CHARITABLE ACTIVITIES - CURRENT YEAR CHARITABLE ACTIVITIES - CURRENT YEAR CHARITABLE ACTIVITIES - CURRENT YEAR 2021
Unrestricted Designated Restricted Total
Funds Funds Funds Funds
f, 6
employment costs 94,008 94,008
expenses 10,319 10,319
Safeguarding
Ofticer		 5,110 5,110
Manse regular expenses 8,648 8,648
One offManse expenses 21,538 21,538
Manse rental 1,437 1,437
Manse repairs/services/rental 3,268 3,268
Mission 8,741 1,000 147,763 157,504
Establishment 11,708 26 11,734
Ministers
conference		 4,024 4,024
Other expenditure 4,627 5,000 5,060 14,687
EBAAssembly 96 96
Depreciation 7,400 7,400
180,924 6,000 152,849 339,773
Support Costs 2021
Unrestricted Designated Restricted Total
Funds Funds Funds Funds
Company
secretary's
salary		 22,066 22,066
Company
secretary's
expenses		 2,762 2,762
Independent
examiner's		 fees 1,423 1,423
Legal and statutory
payments		 999 1,260 2,259
27,250 1,260 28,510
Total Charitable
Activities		 208,174 7,260 152,849 368,283

CHARITABLE ACTIVITIES CHARITABLE ACTIVITIES CHARITABLE ACTIVITIES CHARITABLE ACTIVITIES - PRIOR YEAR - PRIOR YEAR - PRIOR YEAR 2020
Unrestricted Designated Restricted Total
Funds Funds Funds Funds
6 6
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
Depreciation 7,400 7,400
177,850 18,500 123,629 319,979
Support Costs 2020
Unrestricted Designated Restricted Total
Funds Funds Funds Funds
8
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
TRUSTEE AND STAFF REMUNERATION 2021 2020
The staff costs were:
Trustees (Regional Ministers) and support staff
Salaries 106,804 110,400
Social security costs 5,484 6,411
Pension costs 8,896 12,045
121,184 128,856
Average weekly number ofstaff employed during the year:
Full time
Part time

The Trustees consider they are the key management consider they are the key management and the Regional Ministers and the Regional Ministers are remunerated.
The		 are remunerated.
The		 total
compensation received by key m'anagement including benefits is 891,614(2020:8109,512).
NET INCOME FOR THE YEAR 2021 2020
Net income for the year is stated after charging:
Independent examiner's
fees		 1,422 1,398
TANGIBLE FIXEDASSETS - CURRENT YEAR Office and
computer Operating
equipment property Total
COST f,
Balance at 1 January 2021 3,779 1,104,950 1,108,729
Additions 39,500 39,500
Balance at 31 December 2021 3,779 1,144,450 1,148,229
DEPRECIATION
Balance at I January 2021 3,779 14,800 18,579
Depreciation charge 7,400 7,400
Balance at 31December 2021 3,779 22,200 25,979
NET BOOK VALUE
At 31December 2021 1,122,250 1,122,250
TANGIBLE FIXEDASSETS - PRIOR YEAR Office and
computer Operating
equipment property Total
COST
Balance at I January 2020 3,779 1,104,950 1,108,729
DEPRECIATION
Balance at I January 2020 3,779 7,400 11,179
Depreciation charge 7,400 7,400
Balance at 31 December 2020 3,779 14,800 18,579
NET BOOK VALUE
At 31December 2020 ],090,150 ],090, 150

NOTES TO THE ACCOUNTS THE ACCOUNTS
Book Value Book Value
OPERATING PROPERTY NET BOOK VALUE as at as at
3I/12/202 I 3 I/12/2020
46 Churchill Road, Thetford 244,850 246,550
2 Buchanan Gardens,
Wickford		 349,860 352,240
17 Station Road 488,040 491,360
16Firethom Court - deposit 39,500
1,122,250 1,090,150
8 INVESTMENTS - CURRENT YEAR Freehold Unlisted
Property investment Total
Market value at I January 2021 377,000 3,204 380,204
Market value at 3 I December 2021 377,000 3,204 380,204
INVESTMENTS - PRIOR YEAR Freehold Unlisted
Propetay investment Total
6
Market value at I January 2020 377,000 3,204 380,204
Market value at 31 December 2020 377,000 3,204 380,204
Unlisted
investment
2021 2020
Baptist Insurance
Company		 shares 6
Loan fund 801 801
General fund 2,403 2,403
3,204 3,204
DEBTORS: Due within
one		 year 2021 2020
Loans to Churches 34,291 43,791
10 CREDITORS: Due within one year 2021 2020
Trade payables 1,868 1,186
Accruals 1,350 1,350
3,218 2,536

DESIGNATED FUNDS DESIGNATED FUNDS Brought Carried
-CURRENT YEAR forward Income Expenditure Movement Transfers forward
6
Pension Reserve Fund 253,459 (53,456) 200,003
Pioneer 10,000 (5,000) (5,000) 5,000
Mission 95,152 (2,260) (2,260) (25,000) 67,892
358,611 (7,260) (7,260) (78,456) 272,895
DESIGNATED FUNDS Brought Carried
-PRIOR YEAR forward Income Expenditure Movement Transfers forward
Pension Reserve Fund 544,595 3,864 3,864 (295,000) 253,459
Manse Maintenance 2 (2)
Pioneer 5,000 (5,000) 15,000 10,000
Mission 8,650 13,500 (13,500) 100,002 95,152
553,247 3,864 18,500 (14,636) (180,000) 358,611
12. RESTRICTED FUNDS Brought Carried
- CURRENT YEAR forward Income Expenditure Movement Transfers forward
6 f,
Home Mission Fund 72,370 105,906 (141,819) (35,913) 25,000 61,457
Southminster
Fund		 51,600 51,600
Lay Ministry
Fund		 9,295 105 (7,746) (7,641) 1,654
Ministers'
Benevolent		 Fund 3,426 993 (1,853) (860) 1,000 3,566
Ministers
Training
Fund		 11,213 (1,431) (1,431) 9,782
147,904 107,004 (152,849) (45,845) 26,000 128,059
RESTRICTED FUNDS Brought Carried
-PRIOR YEAR forward Income Expenditure Movement Transfers forward
f,
Home Mission Fund 52,832 138,266 (108,728) 29,538 (10,000) 72,370
Southminster
Fund		 60,432 197 (9,029) (8,832) 51,600
Lay Ministry
Fund		 9,985 570 (1,260) (690) 9,295
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) 11,213
139,370 141,496 (123,629) 17,867 (9,333) 147,904

ANALYSIS OFNET ASSETS ANALYSIS OFNET ASSETS Umestricted Designated Restricted Total
- CURRENT YEAR Funds Funds Funds Funds
8 f
Tangible fixed assets 1,122,250 1,122,250
Investments 379,403 801 380,204
Net current assets 300,189 272,094 ]28,059 700,342
Provisions for liabilities and charges (63,400) (63,400)
1,738,442 272,895 128,059 2,139,396
ANALYSIS OFNET ASSETS Unresbdcted Designated Restricted Total
- PRIOR YEAR Funds Funds Funds Funds
Tangible fixed assets 1,090,150 1,090,150
Investments 379,403 801 380,204
Net current assets 337,061 357,810 147,904 842,775
Provisions
for liabilities		 and charges (78,770) (78,770)
1,727,844 358,611 147,904 2,234,359

2021 2020
N
et income		 for the reporting period as per SOFA (94,963) (80)
Adjustments for:
Dividends, interest and rents fiom investments (41,934) (42,63I)
Depreciation 7,400 7,400
Decrease in debtors 9,500 14,624
Increase/(decrease) in creditors 682 (6,254)
Increase/(decrease) in pension provision (15,370) (4,301)
Net cash used in operating
activities		 (134,685) (31,242)

Type ofassumption Y0pa
RPI price irdlatiou assumption 3.20
CPI price inflation assumption 2.70
Minimum
Pensionable		 Income increases (CPI plus 1.0'/0 pa) 3.20
Assumed
investment		 returns
-Pre-retirement 2.95
—Post retirement 1.70
Deferred pension increases
-Pre April 2009 3.20
-Post Aprfl 2009 2.50
Pension increases 2.70