2022-12-31-accounts - Eastern Baptist Association

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BALANCE SHEET
											2022				2021
						Notes
FIXBDASSETS
Tangible fixed assets												1,470,120					1,122,250
Investments												380,204					380,204
TOTAL FIXED ASSETS												1,850,324					1,502,454
CURRENT ASSETS
Debtors										27,731				34,291
Cash at bank and in hand										360,334				669,269
TOTAL CURRENT ASSETS										388,065				703,560
LIABILITIES
Creditors. amounts falling due
within onc year						10				18,682				3,218
NFT CURRENT ASSETS												369,383					700,342
TOTAL ASSETS LESSCURRBNT LIABILITIFS												2,219,707					2,202,796
Provisions for liabilities and	charges					16											63,400
NET ASSETS												2,219,707					2,139,396
THE FUNDS OF THE CI-IARITY
Unrestricted Income Funds												2,015,442					1,738,442
Designated Income Funds						11						62,666					272,895
Restricted Income Funds						12						141,599					128,059
TOTAL CI&RITY FUNDS												2,219,707					2,139,396
The trustcees consider that the		charitable	company		is	entitled		to exemption			from	the requirement	to	have	an audit		under the
provisions ofSection 477(I)ofthe Companies				Act 2006. Members						have	not required thc charitable			company		under Section
476 ofthe Companies Act 2006, to obtain an audit					for the year ended					31 Dcccmbcr 2022. The directors					acknowledge their
rosponsibilities for ensuring	that the charitable			company			keeps accounting				records which comply		with Section			386 and 387
ofthe Companies Act 2006 and for preparing				financial		statements			which give a true and fair view				ofthe		state	of	affairs of
the charitable company as at	31 December 2022 and ofits surplus								for the		year then ended in accordance				with	the
requirements ofSection 396	and which othmviise				comply		with the		requirements			ofthe Act relating		to thc	financial
statements as far as applicable		to the charitable		company.

				2022	2021
			Notes
CASH FROM OPERATING	ACTIVITIES
Net cash used in operating	activities		15	11,836	(134,685)
Cash flows from investing	activities
Dividends, interest and rents				34,729	41,934
Purchase offixed asset				(355,500)	(39,500)
Net cash provided by investing activities				(320,771)	2,434
Change in cash and cash equivalents in the		year		(308,935)	(132,251)
Cash and cash equivalents at	the beginning	ofthe year		669,269	801,520
Cash and cash equivalents	at the end ofthe year			360,334	669,269

GRANTS	AND DONATIONS	—CURRENT YEAR
						2022
			Unrestricted	Designated	Restricted	Total
			Funds	Funds	Funds	Funds
			f		6
Baptist Union Grants			140,147		129,367	269,514
Other grants and donations			71,726		9,528	81,254
Preaching	fees and expenses		9,307		32	9,339
Ministers	Conference		9,840			9,840
Training	courses		9,830			9,830
			240,850		138,927	379,777
GRANTS	AND DONATIONS	-PRIOR YEAR
						2021
			Unrestricted	Designated	Restricted	Total
			Funds	I'unds	I'unde	Funds
				6
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

					2022
		Unrestricted	Designated	Restricted	Total
		Funds	F'unde	Funds	Funds
Bank interest		6,566			6,566
Baptist Insurance	Company	801			801
Property rental		27,362			27,362
		34,729			34,729

INVESTMENT	INCOME - PRIOR YEA	R
					2021
		Unrestricted	Designated	Restricted	Total
		Funds	Funds	Funds	Fulids
Bank interest		8,157			8,	157
Baptist Insurance	Company	801				801
Property rental		32,976			32,976
		41,934			41,934

CHARITABLE ACTIYITIES - CURRENT YEAR	CHARITABLE ACTIYITIES - CURRENT YEAR	CHARITABLE ACTIYITIES - CURRENT YEAR	CHARITABLE ACTIYITIES - CURRENT YEAR				2022
				Unrestricted	Designated	Restricted	Total
				Funds	Funds	Funds	Fullds
						8
Ministry employment			costs	119,387			119,387
expenses				23,488			23,488
Baptist deficit pension		adjustment		(55,392)			(55,392)
Safeguarding Officer				5,807			5,807
Safeguarding officer	expenses			317			317
Manse regular expenses				9,343			9,343
One offManse expenses				9,717			9,717
Manse rental				2,670			2,670
Manse repairs/services/rental				3,095			3,095
Mission				7,409	12,144	118,449	138,002
Establishment				15,627			15,627
Ministers conference				12,102			12,102
Other expenditure				3,702		7,397	11,099
EBAAssembly				437			437
Youth expenses				204			204
Depreciation				7,630			7,630
				165,543	12,144	125,846	303,533
Support Costs							2022
				Unrestricted	Designated	Restricted	Total
				Funds	Funds	Funds	Funds
						f
Company secretary's	salary			22,374			22,374
Company secretary's	expenses			2,998			2,998
Independent extuniner's		fees		1,770			1,770
Legal and statutory payments				3,520			3,520
				30,662			30,662
Total Charitable Activities				196,205	12,144	125,846	334,195

CHARITABLE	ACTIVITIES	ACTIVITIES	ACTIVITIES	- PRIOR YEAR	- PRIOR YEAR	- PRIOR YEAR					2021
							Unrestricted	Designated	Restricted		Total
							Funds	Funds	Funds		Funds
Minisny	employment		costs				94,008				94,008
	expenses						10,319				10,319
Safeguarding Officer							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
TRUSTEE AND STAFF REMUNERATION
The staff costs	were:								2022		2021
Trustees (Regional Ministers)				and	support	statf
	Salaries								128,109		106,804
	Social security			costs					6,238		5,484
	Pension	costs							13,220		8,896
									147,567		121,184
Average weekly number		ofstaff employed				during	the year:
Full time
Part time
										6	5

compensation received by key management including benefits	compensation received by key management including benefits	is f36,703 (202	1:691,6	14).
NET INCOME FOR THE YEAR				2022	2021
Net income for the year	is stated after charging:
Independent examiner's	fees			1,770	1,422
TANGIBLE FIXEDASSETS - CURRENT YEAR		Oflice	and
		computer		Operating
		equipment		property	Total
COST
Balance at I Januaty 2022			3,779	1,144,450	1,148,229
Additions				355,500	355,500
Balance at 31December	2022		3,779	1,499,950	1,503,729
DEPRECIATION
Balance at I January 2022			3,779	22,200	25,979
Depreciation charge				7,630	7,630
Balance at 31December	2022		3,779	29,830	33,609
NE'f BOOK VALUE
At 31December 2022				1,470,120	1,470,120
TANGIBLE FIXEDASSETS - PRIOR YFAR		Office and
		computer		Operating
		equipment		property	Total
COST		g
Balance at I January 2021			3,779	1,104,950	1,108,729
Additions				39,500	39,500
Balance at 31December	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 3I December	2021		3,779	22,200	25,979
NET BOOK VALUE
At 31December 2021				1,122,250	1,122,250

ACCOUNTS FOR THE	ACCOUNTS FOR THE	YEAR ENDED	YEAR ENDED	YEAR ENDED	YEAR ENDED	YEAR ENDED	31 DECEMBER 2022
NOTES TO	THE ACCOUNTS
									Book Value	Book Value
	OPERATING PROPERTY						NET BOOK VALUE		as at	as at
									3I/12/2022	31/12/2021
	46 Churchill	Road, Thetford							243,150	244,850
	2 Buchanan	Gardens,		Wickford					347,480	349,860
	17Station Road								484,720	488,040
	16 Firethom	Court							394,770	39,500
									1,470,120	1,122,250
8	INVESTMENTS		- CURRENT YEAR					Freehold	Unlisted
								Property	investment	Total
	Mmket value	at I	January			2022		377,000	3,204	380,204
	Market value	at 31 December 2022						377,000	3,204	380,204
	INVESTMENTS		- PRIOR			YEAR		Freehold	Unlisted
								Property	investment	Total
								6
	Market value	at I	Januaty			2021		377,000	3,204	380,204
	Market value	at 31 December 2021						377,000	3,204	380,204
	Unlisted investment
									2022	2021
	Baptist Insurance		Company				shares
	Loan fund								801	801
	General fund								2,403	2,403
									3,204	3,204
	DEBTORS:	Due	within		onc		year		2022	2021
	Loans to Churches								24,791	34,291
	Trade debtors								420
	Other debtors								2,520
									27,731	34,291
]0	CREDITORS: Due within					one year			2022	2021
	Trade payables								1,572	1,868
	Accruals								1,560	1,350
	Deferred income								15,550
									18,682	3,218

	DESIGNATED FUNDS	DESIGNATED FUNDS	Brought					Carried
	-CURRENT YEAR		forward	Income	Expenditure	Movement	Transfers	forward
							f
	Pension Reserve Fund		200,003				(200,003)
	Pioneer		5,000				(5,000)
	Mission		67,892		(12,144)	(12,144)	6,918	62,666
			272,895		(12,144)	(12,144)	(198,085)	62,666
	DESIGNATED FUNDS		Brought					Carried
	-PRIOR 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
12.	RESTRICTED FUNDS		Brought					Carried
	—CURRENT YEAR		forward	Income	Expenditure	Movement	Transfers	forward
			6
	Home Mission Fund		61,457	137,229	(115,195)	22,034		83,491
	Southminster Fund		51,600	284	(5,100)	(4,816)	(7,641)	39,143
	Lay Ministry Fund		1,654				7,771	9,425
	Ministers' Benevolent	Fund	3,566	1,414	(1,989)	(575)	460	3,451
	Ministers Training Fund		9,782		(3,562)	(3,562)	(131)	6,089
			128,059	138,927	(125,846)	13,081	459	141,599
	RESTRICTED FUNDS		Brought					Carried
	-PRIOR YEAR		forward	Income	Lxpenditure	Movement	Transfers	forward
	Home Mission Fund		72,370	105,906	(141,819)	(35,913)	25,000	61,457
	Southminster Fund		51,600					51,600
	Lay Ministty 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

ANALYSIS OF NET ASSETS	ANALYSIS OF NET ASSETS	Unrestricted	Designated	Restricted	Total
-CURRENT YEAR		Funds	Funds	Funds	Funds
		6	6
Tangible fixed assets		1,470,120			1,470,120
Investments		379,403	801		380,204
Net cun ant assets		165,919	61,865	141,599	369,383
		2,015,442	62,666	141,599	2,219,707
ANALYSIS OF NET ASSETS		Unrestricted	Designated	Restricted	Total
- PRIOR YEAR		Funds	Funds	Funds	Funds
				6
Tangible fixed assets		1,122,250			1,122,250
Investments		379,403	80]		380,204
Net current assets		300,189	272,094	128,059	700,342
Provisions for liabilities	and charges	(63,400)			(63,400)
		1,738,442	272,895	128,059	2,139,396

RECONCILIATION	OF NET MOVEMENT	OF NET MOVEMENT	NET CASH FLOW FROM
OPERATING ACTIVITIES
			2022	2021
Net income for the reporting		period as pcr SOI'A	80,311	(94,963)
Adjustments for'.
Dividends, interest and rents		from investments	(34,729)	(41,934)
Depreciation			7,630	7,400
Decrease in debtors			6,560	9,500
Increase/(decrease)	in creditors		15,464	682
Increase/(decrease)	in pension	provision	(63,400)	(15,370)
Net cash used in operating activities			11,836	(134,685)

Type ofassumption			%pa
RPI price inflation	assumption		3.20
CPI price inflation	assumption		2.70
Minimum Pensionable		Income increases (CPI plus 1.0%pa)	3.20
Assumed investment		returns
- Pre-retirement			2.95
- Post retirement			1.70
Defemed pension	increases
- Pre April 2009			3.20
- Post April 2009			2.50
Pension increases			2.70