EASTEI<N BAPTIST, ASSOCIATION ACCOUN'fs FOR 'fHE YEAR ENDED 31 DECEMJ3ER 2024 CONTENTS AND CHARITY INFORMATION CONTENTS PAGE Report of tLie Trustees Independent Bx&miner's Report St&t¢ment of Ftnancial Activities Balance Sheet Slatemeiit of Ch Flows Notes to the Accounts 10-19 TRUSTEES Andrew Wade (resigned 24109124) Sean Fountain Alan Brand John Goddai'd Vicky Baker (resigned 24109124) Sandra Crawford Benjamin Plalll (resigned 24109124) RiChd Lewis (TreUrel'j Adrian W&rd BIrY Jaichallder Paul Smith David Mayne Louise Webber (appointed 24109124) COMPANY SECRETARY Trlayley Beckett REGIONAL MINISTERS Claire Blatchford Gal¢ Richards David Mayne REGISTEIiED OFFICE 2 Buchanaii Gardens Wi¢kford SS12 9QB COMPANY RBGIS'I'RATION NUMBER 4221429 CHARtTY IiEGlS'fRATION NUMBER 1089795 INDEPF,NDENT EX4MINER lan Shipley F CCA For and on behalf of: Prentis & Co LLP Chartered Accountants and Independeiit Examiners I l5¢ Milton Road Cambridge, CB4 IXE BANKE.RS CAF Bantc Ltd 25 Kings Flill Ave Kings Hill West Malling Kent ME19 4JQ Shawbrook Lutea l-Iouse Warley l-Iill Business Park Brentwood Essex CMIJ 3BB B&ptist Union Coipor(ttion Limiled Baptist House PO Box 44 129 Bioadway Did¢ot OXI18R'r Lloyds Bank PIC 13 Cornhill Ipswich Suffollc IPI IDG
EASIERN BAPTIST ASSOCIATION PAGE I ACCOUNTS foR fHE YEAR ENDED 31 DECEMBER 2024 RE4POR"r or THE TRUSTEES The Thitees, (who are also diTectors of the charity foi. the puiposes of the CoLnpanies Act), present their ailnual report togethei. with th¢ fiiian¢ial stateinents of the charity for the year eliding 3 L December 2024 wliich dre also prepared lo Ineet I'lie requirements for a dLrectors' Lepolt alld accounts foi. Compaiiies Act pui'poses, The financial stateinerAts coinply with the Charities Aet 201 I, th¢ Coinpanies Act 2006, the Memorandutn and Articles of Association, aLid Accounting and Reporting by Cliarities: Slatemenl of Recon]mended Practice applicable to cliai'ities prepli]g their accounts in accordance with the Financial Reporting StandaTd applicable iii the UK and Republic of li'el&lld (FRS 102) (Second edition, effective I lanuary 2019), OBJECTIVES AND ACTIVITIES Mission And Purpose of the Charity Eastern Baplisl Association was cstablislied with the goal of tlie advaLicement of the Christian ieligion especially by the Means of and in accordance with the principles of the Baptist denDminatÈon as set out for the time being in Ihe Declaration of PrincÉple of The Baptisl Union of Great Britain, With a particulai, focus on Growing healtFky churches in relationsliip for God's niission in the Ei asl of England. Over the past year, we liave continued to work towards achieving the ¢liarity's objectives t11roiigh strategic initiatives, careful resource maiiageinenl and effective govern8nce. In carrying out their activities the Tiustces have taken into account guidance on public benefLt published by the Charity Commission and coiisider all il activities benefit the general public, GoveriianLe aiid Trustee Ael'ivities In 2024, the Lharity continued lo be (Foverned by a dedicated group ol trustees, eaGb biinging diveise expertise iiiid experience to our work. Regul<1r board meetiiigs were held throughout ihe yeaL' to review the trust, s opei'ations, fLnancial health, and alignment with ils goals, Trustees reiiiain T¢sponsible for., Overseeing the trust's activities and ensuring coinplianee with legal and regulatory requirements. Mollltorill(y fiLlancial perfonnance and approving the annual budget and expeiiditui'es. Reviewing the off¢¢tiven¢ss of strategkc prioi'ities and iriiti&tive8. Evaluating atLd addressing. risl<s to the C'lly'S assets ld opeiations, We are cornmitted to transparency and have adhered to all ielevant regulatioiis governitLg the management of charitable tnLsts. Each tt'ustee has acted with due diligence, cai-e, aiid loyalty to the beneficiaries at]d objectives of the tLWSt. At the 2024 AGM the rnemb¢rs electsd a new moderatoi. for a term of 3 years. At the conclusion of 2024 tlie t1$te¢ board was rnade up of the following individuals. Revd Lou Webber- Moderator Mr Richard Lewis - Treasurer Revd Adrian Ward Revd Jollli Goddard Revd Seaii fouLltaitL Revd Alan Brand Revd Sandra Cr&w(ord as a Co-opted membei. (until JanLLary 2026) Mr13inny Jaichander as a co-opted member (until May 2025) Revd Paul Sinith as a co.opted member (uiitil Septeinbei 2025) Revd David Mayne OiMTL) a% an eK-officio member of council and Interttn Safeguardllig Trusttte 4 illancial Perforinance The charity's financial POSLtioii iemaiiis fi'agÈle, witEL & total incom¢ beFore SUluS on pi'operty disposal of £335,562 lor th¢ yeai, which is an incrcase of 20.4 10 compared to the previous year (2023.. £27S,681}. The ld¢rIY1llg treiid tliougl is a reduced grant frorn the Baptist Union diie to decreased giving and deciras¢d nurnber of church members. Howover, the I'iining of grant clawbacks froin Baptist UniorL aiid return of clawbacks resulted in an artificial iiici'¢as¢ in income 'lor 2024, Incoine froLn property rental, investtnents and pi'e&ching fees i-¢inained as oxpecled.
EASTERN BAPTIST ASSOC,IATION ACCOUNTS FOR T[4 YEAR ENDF.D 31 DECEMBER 2024 REPORT or THE TRUSTEES TtLe charity had a surplus of £65,530, but excluding the SUIFIUS OLi property sa1¢5 we li&d a deficit on our ordin'Y activities of £89,414, reflecting a deficit biidget which is expecled (2023: d¢ficit £98,23 3). We pi'oject and support 5iinilaT annual d¢'fLcits ill SLibsequent years but i'ecognise that this use of reserves to cover ongoing shoitfalls in this way ha8 significant itnplications. Reserves spent in this way C10t then be used to fund otlier activities and projects now or in the future. In ihe long tenn it cali take many years to rebuild reserves, again re(luciiig ftiture possibilitie5 and unless tlie ndIllg structure for Associations is significantly revised, or oiher income streams can be developed, at current levels of expenditure, non-capital asset reserves availablc for ongoing deficits and nol requiLed for otlier piirposes will be exh&u8ted by the end of 2025 Key fiiiianci&l Metrics: Incoine,. £335,462 (excludiiig SUluS oil propeity disposal) Expendituj'es.. £424,976 Net Assets.. £2,186,904 Frce Reserves,. £467,780 Operational Spending.. £307,797 (72.4 % of total expenditures) Graiit Spending,, £1 L7,029 (27.5 % of tolal expendilures) Fund Raising The Chariiy does iiot actively thlldraise but does I'cceive fi'om tine-to-tlliie Lin80licited gifts and don(Itions from the gencral public. Tlie Trustees do not anploy professional or outside agencies to fundi'aise on its belialf and as such does not coiisider it necessary lo be part of a voluntary schetne or standaid. Following a change in BU guidelines, EBA is exploring ways to raise funds specifically foi. oui own putyoses. ACFIIEVEMEsrrs, PERFORMANCE AND DEVELOPMEN'rs Property Matters The Company Secretsry and tlie Treurer tOCFethei' with the f<illance and Administration Taslc Group ovLrsee the property portfolio fui. the EBA. Diiring 2024 this saw a large chaiige. 'E'he trustees rcviewed the propeity stock required to be used as inanses by the regional ininÉsters and took the decision lo sell properties that weLe S[US to reqUire¢1]ts in part to fund the purcELase of a suitable house for the new Team leader £Trnd PErtly to inci'ease the general available funds of tlie a5socialion. In May the Earls Colne propeity was sold with an illcome of £497,794 In August a property was purchased iii South¢nd at a cost of £550,000 In November the Thetford property w&s sold witli an ineotne of £380,000 'rhe association ends 2024 with tlie following properties Southend Manse Wickford Manse Ely Manse Wickford Rental Propeily tenancy until January 2026 with an income of £1,400 moiithly All properties contiiiue to be reviewed annulY to rn£1intain the five-year plan for routin¢ maintcnancc and planned rerbiShrnettt of Lhe EBA properties. Laslly, the association is expected to i'e¢eive a part share in a foiincr church mans¢ in Elarold Hill, pendiiig coThpletion of the legal pi'ocesses. Tru5tLe Engagement and Aetivitl In additioii to regular Ineel'ings, trustees participated in th¢ following activities over the past yeai.; Stratcgy and Planiiing.. Trustees engaged in strategie pl&nnll)g to sel prioi'ities for Ihe comiug year, Training: "frustees engaged with training on the Einportance of Strategy
EASTERN BAP'fisT ASSOCIATION PAGE 3 ACCOUN'fs FOR THE YEAR LNDED J l DECEMBER 2024 REPORT OF TFtE TRUSTEES Progr4ms aiid InitiatlVCS Througliout 2024, tlie charity facilitated arLd liosted traiiiiug and a¢tLVlties aimed at advancing its IllLSSiOlI, Some ol the highlights include.. l. Minister'5 Confcrenc¢: A 3-ddy residelitia Conference foGused on worship) leaming and n¢Lworkiiig. I'he teaching wa5 pi'ovided by Revd HeLen Dare who based Iier sessions on the book of Ruth. This initiative benefited dire¢tly 81 individuals who then retuni to their churches and the benefit could be multiplied across the churclies. 2. Pionccr and Cliaplaiiis Gatherillg: We launched a iiew procTram aiined at eLioaging, supporting and networlcing tninister's whose main ministry is either within a pioneering miiiisty or a chaplaincy. ] total 24 indivÉduals gathered to network and learn fi-om each othor wliich has i'esulted in further network meetings and & repeat of die day ¢onfeience in 2025, Dclivery of the "I am because you are" training.. Thi5 trainllig has beeii developed to raise th¢ iSSLies around diversiiy (d equality, tLie trainllig was mandatory for inLnister5 to engage wilh, and the association used the opportull Lty to gather in small group5 to leam from each other around this I'opic. 'fiie associ&tion believe this training to be of benefit to new ministers coming through the ministLrial recognition pathways that during 2025 will continue to run sessions for individuals to engage with ttLe m¢lterial. 4. Engagement in Project Violet: Project Violet is a research project that investigated women's experiences in n]inistry with tbe results being published durillg 2024, The research provided us with soine siark realities and recominendatioiis for change. Tlie association highlighted this iYs¢ai'ch to all its members churches and ¢ncouraged the all to eiitr&(Ye with the fii)dings as well eng&ging in tlic reCOmendatIonS for change that wei'e specifically aiined at associal(ons. Dui'ing 2025 and beyond Ihe association madc commilments to change and will be working on making these liappen. Part of this will see tlie repeal of tli "M&gnify you" prog'amme which will begin during the followiiig year. Appoijitment of short-tertn role speelfic individuals: The trustees toolc the docision t() dctively use sotue Lestricted fuiids to appoint tndividuals that had specific roles to cnli&n¢c inis8ioT) actlVLties act'oss Ilie association. Joining the tean in October a Pioneer Netwoi'ker w1105¢ 1.ole is to network, engage wit and sllpport those woi'ktng in pioneer mitLiStry. A Cliildren's Youth and Families (cyr) networlcer whose role is lo network with those iiidividuals within m¢mber churches worlcing in a CYF role and an Eco Church eii&bler - this role is job shared between two, their role is to highlight the eco church prograintne and encoiirdge and help churches ¢onsider their role in creation ¢ai'o. Looking Akead As we n]ove into 2025, tlie trust will focus oil the Eollowing prioi'ities.. Fllrthering Iiingdom justice.. Coiitinuing lo impletJ]ent tlie ¢1greed outcotnes of Projcct Violet, worlciiig to have our justice hub integTated into the life of the associ&tion and growing its impact, helping as inally churches as possible to becoine Eco-church &wd holdei's and eiisuring that thc EBA has a good enviionmental policy 2. Supportlng missioii through gTaiit¥'. Continuing lo impleLnent the gr&nts report 2021 &Lid inoving our fo¢us to mission start. up grants and reviewing the overall cconotny of OUT grallts so that they suppoit Lnission aiid ministry across the association. 3. Association Reform.- There is a realisalion that the association Cdnnot continLie to offer the s&ine as It has always don¢ wiLlI a pictui'e OF decreasing iiicome. We will be actively exploring ways to netrworl< and assocLate diffeirntly. Wliilst ensuring the trustee board is fit foi. piirpose and contains the requisite skills and experionce iieeded for an effective balanced board, 4. Collaboratiiig witlL our Baptist Movement: W¢ are Ollly a part of the Baptt family during Ihe next ye- we will be activc alld constructive ill collaboration with oth. parts of the fainily. Ensuriiig that the association is well representcd iii all ai'eas of Baptist life.
EAS fERN BAP'I'IST ASSOCIAI'1()N PAGE 4 ACCOLfN1"s foR THE YEAR ENDED 31 DLCEM]3bR 2024 RF.PORT OF THE TRUS"fEES Conclusion We would like to express our sincere gratide to our leatn, volunteers, and meLnber churches for thetr unwaveiing support thi'ougliout the year. The association is not without its challenges during the next year. We are coiifident that witkn YOUT continued Support, we can achieve great tliing's in the coming Ye., Th84nk you for your trust ]d coininilnient to our shared goals. Risk Manag¢mcnt and Complianc¢ We continue to Ltphold robust Tisk managemenl practices to 5a'lecruard tlie ChLty,S assets. Key risks identifLed iii 2024 included Icey Risk Response and mitigation Critical Risk Churclies response to MR I'ules coiisultation outCOEDe (Flliance) Membership and giving decreases. Churches respons¢ to MR rules consultation outcoiue (Membersl)ip) Bi'eakaway Baptist union is formed, The association pi'epared differellt iiicorne forecasts Lo assess its viability if differonl cir¢uinslances OCCLirr¢d. Maintain a good r¢lationship with the Nacional Resource {d support. me¢h&nisms, Regional minL5tei's remained visible and appToacliablc to churches wishiiig to talk throu h issucs M(iintain a good relationship with the National ResouTce and support m¢chanisws. Regional ministei's remained visible and approachable lo churches wishuig to talk Ihrou issues The association prepai'ed ditferent inconie forecasts to assess its viability Lt di"EYerent circuinbtances occurred Assess oui. ¢xpeiiditure and use cun'eiit funds wisely Critical Risk Critical Ris11 Cliui'chLs i'espoiise to MR rules coiisuliation outcotne (Reputation) Indirect risk of Baptist reputation Fiiiance (including systems and controls) Changes to fiiiancial inodel with iinpacts our iiicom STRUCTURE, GOVERNANCF, AND MANAGEMENT Cyoverning Documeiit Easteiv Baptist Association is a cornpany liinited by guaL'antee with charitdble status which is gov¢rrLed by a Meinoi'andum and Aiticles of Associatioii. Appointment of Trustees (also Iinown #s Council membcr5) I'he following revised process fjor appointing Couiicil nierrLbers was agi'eed at the EBA Assembly iii June 2008., Council will include the Icaders of up to l O Taslc Groups with the following remits oi. such alternative or additional remits as shall be determined by Council fro1]] time to titne,. Admlliistration Mission Strategy Finance World Mission Millistry Young People Mission R¢sourcing/Social Actioii Noiiiinations for leadei-s ofihe Tc1sI( Groups will be sought from the Liiember Cl)urches of the Association. A Noininating Group appointed by the Council will iiolniiiate a leader for ea¢h Taslc Group and will presetit thc names of the noininees to the Inember Chui-cl)es for appointtn¢iit al Ihe Associalion's Annual General Meetyng. Any peison thus appoiiited as a Task GIL)up Leddei will be eligible for re-appointment unless I'hat person has, immediately befoir suLh re-appointtneLIt, alLe&dy served thi'ee CQLisecutive periods of office.
I.'AS'I'I.;IIN fiAlh'l'l%'l' A%SOCIA'I'IC)N
AL'LUUN r% r()11-I'l IL.. YT.-,A R F.:NI)I-.1) 311.)I"CI~"MI31.'II 2024
111-:I)Oll'l' (.)14 .1.11 I.,: 'I'IIUSI'Lr.s
'ITrL appoiiillmeiil of Task Cjroup l¢aders ivill ittko eIYecl far a t£nn which expli'c5 111 IIIL Iliird FiiiiiiJ%l
Jeneral Mevtiiig followino tlitti'r &ppointstteni. I loiH'evci', IK'O) rjf Lh¢ Tfflbk Gi'oui) leadorq appoiiiied by
iTreinbLI' Churches for tlic first timc will br iaPPOilItL'cl r()I' two year.¥, Ihi'eL fur Ihr*L yLa1's aiid IWD frJr1oui'
ycars.
'llie C(iuiicil wil I be eiiliil¢d lo I'lll aiiy ¥ue¢m¢y foi, a -fask C>l'OillY l¢ader wlii¢h o¢¢urs ciui'ing a ILriii (Jr
app()inimciiL A p¢rs4Jn filliiig Ihdl vacaiicy will .%LfvL Liiilil IhL iicxt Annual Q¥eii¢L71 MkLliii% ur Ili¢',
As$o¢iiition.
4. r.oiJnLiI will inLludL tlit ModLraicJi' aiid I I'¢iisui'ci' Ilie Assuci&JliDli wh(} wil I be ippoiiited by d miijority
votL al a CILiILI'al Mceliiig of Ihe Assc>LiatiLin fi)Ilt)wiiig liQmlll&LlOI) by th¢ LouiiLil.
'I'i'usteo ittdiictioii all(1 ti'%inillR
The 'ftwslee8 4.k to ensure thal pi'oGcdures arye. in place for 'l'riisie¢ illdu¢iion and u'ainii)g by rLf¢rEllCC lo gui(lanc
publislied by Ilie cli.11Y Coinii)is8ion,
OrgRlll¥llti111181 .Sirueture
i'lie chiirity IiiÉ 8 <1 LnLin¢il who nicei a niininiiim (?f r()Iir tiineq a yciir and arL respnnsiblL for 11.8 5triitLgVje Ilii'Lciii?n
aiid policy. IILBic)llsil milli%i¢i's .0 appoiiit¢d by i1iL Truslees to IiiaThabye thL day-tn.day opcr&iioiis oftlio Lhai'iiy,
ST'AI'EMLW 01,. TRUSTEES, RF.8PONISIBILI'fi.L::S
'I'hc 'fi'usiL'Ls (wliJ arl 1( Igo diicclor.% of r.ostrrii t3ilPlisl Associatiott fL)r Lhc purpfrses of company IAWI ar
re8iJun¥il?IL for propariri
EASTERN BAPTIST ASSOCIAI'ION PAGE 6 ACCOUNTS foR THE. YEAR ENDED 31 DECEMBER 2024 NDEPENDfNT EXAMINER'S REPORT TO THE MEMBERS OF BASTERN BAPTIS'f ASSOCIATION I report on the accounts of the charity for the year ended 31 Dec¢mb¢r 2024 whicli comprise tlie Statement of FinancLal Activities, the Balanc¢ N%h¢et, the Statement of Cash Flows and the related notes. RF,SPONSIBILITIES AND BASIS OF RBPOIIT As the Trustees of tlie charity (and also Lts directors for the purpose of cotnpany law) you are respoiisible for the prepara¢ioii of the accounts in accordance willi the requirements of tlie Coinpanies Act 2006 ('the 2006 Act,). Flaving been satisfied thal tELe accounts of the charity are not required to b¢ audit'ed under Pt.16 of th¢ 2006 Act and are eligible for independent examination, l i'epoit In respect of my examination of your chaL'ity's accounts as caLed out under s. 145 of the Charities Act 2011 (the '201 l Act,), In caLTyill15 Out my exaininalion I have followed die Dii'ections given by the Charity Commission under s. l45(5)(b) of the 2011 Act. INDEPENDENT EXAMINER'S REPORT Since the ¢harity's gross income exceeded £250,000 your examiner must be a meiiibei of a body listèd in s.145 of the 201 l Act. I confitm that I am qualified to undertake the exainination because l &in a member of the Association of Chartered Ceitified ACCOUntts which is one of the listed bodies. I have completed my exainination. T confLrni that. no matters Iiavc come to my attention in connection wit11 the examination giving me cause to believe.. ( l} accounting records were not kept in respect of the Lharity &s required by 8.3 86 of the 2006 Act,. (2) tbe accourLts do not accord witli those account'ing records,. (3) the accounts do nol comply witli the accourLtitLg requirements of s.3 96 of the 2006 Act other ttrLan any requirement that tlie accouiils give a 'trLte and fail view wliich is not a matter considered a.% part of an iiidependent examination. or {4) the accounts have iiot been prepared in accordance with the methods and principles of the Statcm8nt of R¢coiDinend¢d practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Slandai'd applicable in the UK aiid R¢public of Ireland (FRS 102)). I have no concerns and have COLne aLross no other matters in conneclioll with the exainination to which attentLQtI should be diawn in this repoit in order lo eiiable a propcr undei3tanding of the cOUnts to be reached. IAN SHIPLEY fccA FORAND ON BEFIALF OF. PRENTIS & CO LLP CI.IARTERBD ACCOUNTANTS & INDEPENDEbrr EXAMtNERS 115c Milton R01( d Ctunbridge CB4 IXE oLtr) Apd
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:. AS'fi;,RN BAP"ris"r ASSOCIA TION
PACil'. X
AcfouNTS I'.011 T>IF. YF."AR ENDP.I) 31 I)F.C.F,MBI"II 2024
AI.ANCE siip'.r.T
2024
202i
Noles
PIXLD ASSET'S
'I"aii&tribl¢ fixed as%et%
Invo8im¢nts
1,280,748
3811,204
1,46(J,120
J80.204
'ro-rAL l-,Txf.D A8%1-'1'
1,660,952
1.840,324
CURRE.NT ASSE'fs
DebLur
Cll%li at bank an(1 in hand
11,260
531,662
20,316
273,754
"I'OI AI. CIJRKf.N"I' AS,sr,"rs
542,922
294,070
I.I.A141LII'IF.8
Ci'¢diiors- ainuui)Is fAII ing Llue.
within oiie year
11)
16,970
NE'I. CLI IIIILKF ASSF.I"f
525,952
281.150
NL'f ASSL'I'£
2,186,904
TI4F. I'.IINI)% Dr. "ri IF4. CFIAIiI"II
LJni'LtsII'i¥I.td IiiLomL l.'iinds
Ilesignatcil IiicoiiiL I',Iinds
RL.Ili'ieicd InLomb fui)d%
?.079,122
49,511)
58,272
1,95.%,324
12
ID8,48,'1
'I'QI'I'AL, CIIARI'I'Y I,IJNI)S
2.186,904
2,121,474
'lll]e ti'ii¥teeLi cDn8irlei' Ilial Ll)e' chArl1b1t eoinpany i,s ci)titleil lo Lxeiiipiion lioir the rLquirein¢ni io have ali dudit uiidLr Ib,
rtsvisioiis of ,%eLliiJii 477( l j uftlikn Ciimp(hlliL'S Act.
00(I. MLirbcrs liilvc noi rL'quired th# cliariLable tsoimpaiiy under S¢ciiDn
476 ot tlie ftsmptiniL'% Act ?006, In obi&is1 dn a¢idii For Ihc ycar rnded J l L)ec¢mber 21)24. 'llie dir¥L Ol's aoki)owt¢1e ilieir
r&bpLiiisibililics tor Ll)surill£ Il Ilic chlli'iluble LUTllpilll)' Lcey)s ac¢ounting recurdl ivhiLh complv witli %eLtir)n 386 Hiid 387
ot I'hL LDmpdnie% ALt 211Q(I Iiiid foi, p¥oi)arli)g fiii<iiicial .%t(£tcnielll'8 wlii¢h 1ve & Ii'iic ai)d fair vicw ofthe state of dlyaii's or
the ¢111¥ I'iiable LomparLy as
EASTERN BAPTIST ASSOCIATION PAGE 9 ACCOUNTS FOR TFIE YF,AR ENDf,D 3 1 DECEMBBR 2024 STA"FEMENT Of CASEI bLQWS 2024 2023 Notes CASH fROM OPERATING ACI"IvI'fIES Net cash used in operatijig activities 16 (131,490) (138,921) Casli flow5 from investing activities Dividendg, interest and rents Purchase of fixed asset Proceeds from disposal of fixed assets 61,604 (550,000) 877,794 52,341 Net eash provided by investing aetivitits 389,39S 52,341 Cliange in casli and casli equivalents in the year 257,908 (86.580) Cash and cash equiv1¢ lents at the beginning of the yeaT 273,754 360,334 Cash and cash equivalents at Ili¢ end of tlic year 531,662 273,754
EASTERN BAI)TIST ASSOCIA TION PAGE 10 AccouTrrrs roil I'HE YBAR ENDED 31 DELEMBEEi 2024 NO'fES TO THE AccouNn"s ACCOUNTING POLICIES BASIS OF PREPARA'fioN OF ACCOUNTS Tlie fInancial stateLnents liave been prepared under the historical cost conventioii with items recognis¢d at cost or tr&i]saction value unless otberwise Stated iii t'he L'¢levant notes to these finl¢la1 statements. The financial 3t&tement8 have been prepared in accordance with the Slatement of Recomin¢nd¢d Pi'a¢tL¢e (SORP) Accounting aiid Ileporting by CIiEll-ities" preparing iheir accounts ill accordance with the Financial Reporting Standard &pplicable in the UK alld Republic of lie13nd (FRS 102) Seconé edition, issued October 2019, the Charities Act 201 l and The Compaiiles Act 2006, The financial statements have been prepared on a going concern basis. (a) The Trustees 'e of the view that tliey hold suFficient liquid assets to mcet operatirkty costs in the medium tenn. The priiiciple wicertainties are the futur¢ uplceep Costs of the propertLeS. The cliarity Coilstitules a public benefit as deflned by FRS 102. The accounts are pirsenl¢d in sterLmg, the oharily's functional cun'ency. (b) FUND ACCOUNTING Unrestricted Funds aLe avallable for us¢ at the discretioii OF the Coiincil of tLie Association iii furtherance of tkLe objectives of the Association are ndS set aside by the Association in order to undertake specific projects, or equalise anticipated tTrajoi expenditure OLI niainteiiaiice of fixed agsels in future ye&rs. aLt nonies subject to iecrul<Ltion by tlie donors of tlie funds as to Iheir Lise. Desigiiated Funds Restricted FIuLid5 (c) INCOME Income is recognised in the year in which the charity is eLltitled to tlie i'eceipt, and the amouiit can be measured with reasonable certatnty. Income is only deferred when the cliarity has to fulfil coiiditions before b¢coming entitled to it or wliere the donor has specified tliat the income is to bo expeLided in a fiLttiLe year. (d) EXPENDI'IURE Expenditure is included on an accru¥ds basis at the tine a liability is incurred. VAT is reported as part of the expenditur¢ to which it relates. OPERATtNG LEASES Rentals applicable to operatiiig leases where substantially all of tlic benefits and rislcs of ownership remain with the lessor, are charg¢d agaill5t incoille as incurred, (0 OPEIL4TING PROPERTIES The Tiustees rccognise 3 pioperties as operating properties. They have been Énitially recognised at cost and the building proportion is dcpreciated over 100 years. INVBSTMENT PROPERTY The trustees reco)IS¢ property 40 MelvTSle Drive as an investLnent property. This 15 I-evalued on a yeuly basis using a third party source, The difference between Ihe propei'ti¢s v&lue at the year end is adjusted througli the statetnent of financtal activit'ies.
EAS fERN BAP'fisT ASSOCTAI'ION PAGL., I I ACCOUNTS foR THE YFAR ENDED 31 DECEMBER 2024 NOTFS TO THE ACCOUNrs ACCOUNTING POLIcIf.s - continued DEPRECIATION Depr¢¢iation is provided on all tangible fixed assets at rates calculated to write off tlie cost l¢ss estimated residual value of each asset over its expected useful life as follows: (h) OfFLce and compuler equiplnent Operating property 20 % straight line basis 2Q/o on property costs only The cliai'Lty has a policy to write off any capital items which cost less than £500 in Ihe ye. in which the expense is incurred. DEBTORS D¢btoi's are recognised at tli¢ settlement amouiit due after any discount offered, Prepayinents are valiied at the amount prepaid net of aE]y trade discoiints diie. (i) CREDITORS Creditors and provisions al'e recognised where the charity has d present obligation resulting froLn a past event that will probably result in the transfer of funds to a thRrd party <ind the amouiit due to settle the obligation can be measured or estiated reliably. Creditoi3 and provisions 'e normally recognised at their settleineTrt anLOLLnt after allowing any trad¢ discounts due. The pertsion scheLne was bought out in the yeai ended 31 December 2023, Tderefore no pensioii provision has aiisen since that date GRANTS AND DONATIONS - CURRENT YEAR 2024 Total nds Uiirestricted Designated Rosll'icted Baptist Union Grants Other grants and donations Pieachiug fEes and ¢xp¢nses Mlliisters Conference Tratning courses 226,lJ6 4,25.3 5,794 12.742 7,143 226,136 22,043 5,794 12,742 7,143 17,790 256,068 17,790 273,858 GRAKFS AND DONATIONS - PRIOR YEAR 2023 Totsl Fiillds Unrestricted Designated Restrictsd Fuiids E",unds Baptigt Union Gr<t5 Other grants and donations Preachllig fees and expenses Minislers Coiiference Trdining coursLs 98,149 3,550 6,393 11,350 14,350 90,783 1,565 189,132 5,115 6,393 11,350 14,350 133,992 92,348 226,340
EASTERN BAPI'ISI, ASSOCIATLON PAGE 12 ACCOUNTS foR I"FEE YfAR ENDED 31 DECEMBER 2024 NOTES TO TFIE ALCOIJNTS tNVESTMBiif INCOME . CURRENT YEAR 2024 "I'otal Ullrestticted D¢sicFnated Eiestt'LCted Bank interest Baptist Insuran¢¢ Coinpany Propeity rental 10.185 801 50,618 10,185 soi 50,618 61,604 61,604 INVE8TMEwf INCOME - PRIOR YBAR 2023 "I'otal Uni'estricted Designated Funds Restricted FutLds Bank inteiest Baptist InsEITance Company Propeity rental 11,422 801 40,118 11,422 soi 40,118 52.341 52,341
AS'fLRN BAPTIST ASSOCIATION PAGE 13 ACCOUNTS FOR THE YEAR ENDED 3 I DEC'EMBER 2024 NOTES TO THE ACCOUN'rs CTrLIRITABLE ACTIVITIES - CURRENT YEAR 2024 "fotaL Fiinds Unrestricted Designated F unds Restricted Miiiistry employnient costs expenses Baptist deficit pcnsion &djustmeiit Safeguarding Officer Safeguardiiig otficei expenses Manse reglar expenses One off Manse expenses Manse renl&l Manse repairs/serviceslreDtal Mission Establishment Ministers conference Ollier expenditure EBA Asseinbly Depreciation 107,419 22,520 (io) 7,838 2,520 7,7D 17,282 l5,936 4,874 68,994 18,023 18,506 3,511 440 6,522 4.414 340 111,833 22,860 (io) 7,83 S 2,520 7,701 17,282 15,936 4,874 132,737 20,07 I 18,()28 8,487 440 6,522 8,156 55,.587 2,048 422 4,976 302,076 8,156 67,787 378,019 2024 Total FuLids Unrestricted Designaltd Fuiids F'ld5 Restricted Funds Suppoit Costs,. CompaLly se¢r¢tary's salaiy Cotnpany secretarys expenses Endependent examiner's fees Legal and statutory payin¢nts 25,133 3,721 1.962 l6,141 25,133 3,721 1.962 16,141 46,957 46,9.57 Total Charitable Activities 349,033 8,156 67,787 424,976
EASTERN BAPTIST ASSOCIATION PAGE 14 ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2024 NOTFS TO TIIE ACCOUNrs CHARITABLE ACTIVITIES - PRIOR YEAR 2023 Total Unrestricted Designated Funds Fuiid5 Restricted I",unds Ministry employment costs expenses Baptist deflcit peiision adjustmeiit Safeguardlng Officer Safeguarding officer expenses Manse regular expeiises One o'ff Manse expens¢s Manse rental Manse repau-slserviceslrental Mission Establishiiient Mtnisters Collference Other expet]dilur¢ EBA Assembly Depreciation 101,72J 18,293 (12) 7,816 1,198 11,176 8,640 3,984 7,319 6,926 17,694 14,580 3,999 442 10,000 101,723 18,293 (l2) 7,816 1,198 11,176 8,640 3,984 7,319 129,563 17,694 14,860 10,320 442 10,000 5,000 117,637 280 6,321 213,778 5,000 124,238 343,016 2023 Totsl Unroskricted D¢signated Fund8 Restricted Funds Support Costg,. Cornpany secrelary's salary Coinpany secretary's expenses Independent examiner's fees Legal aiid statutory paytllents 24,503 4,614 1,886 2,895 4,614 I,886 2,895 33,898 33,1198 Total Charitable Aclivities 247,676 5,000 124,23 8 376,914 TRUSTEE AND STAf.F Rf.MUNE,RATION The staff costs wei'e: TTUSteos (R¢gional Mlnisters) and siipport staff S&Llari¢s Social S¢CLirity cosls PeiisiDn costs 2024 2023 126,635 5,800 12,359 117,488 4,716 11,826 144,794 134,030 Average weekly llULnbeT of staff einployed duiing the year.. Full time Part time David Mayng is & Regioncil Ministei aiid also & trustee of the Associalion, Clare Blatcliford and Gale Richai'ds are Regioiial Miiiistei-s aiid not TrLlStees.
LASTERN BAPTIST ASSOCIA"fioN PAGE 15 ACCOUNTS FOR TFIE YEAR ENDED 31 DECEMBER 2024 NOTES TO TFtB ACCOUNTS TRUSTEE AND STAFF REMifNERATION COLltinued ND tnembei of staff received reinuneralion oEmore diall £60,000 during the year. Tlll'ee (2023,. Foul.) regional Ministers live in properties wholly OWLied by the Associalion. The Baptisl Union pays market rent to ihe Association to cover one of th¢ Maiis¢5. Expenses totalling £13,692 (2023., £4,028) were reitnbui3ed to Ihe Trustees (regional Ministers and othei. Trustees). The Trustees collsider they are the key ftwiatreinellt and the Regional Ministers are remunerated. The total ompensatLOll IEceived by Icey manageinent including benefits is £40,040 (2023: £39,3 08). NET INCOME FOR TFIE YEAR Net incoin¢ for the year is stated after charging: llldependeiit examiner's fees 2024 2023 1,962 I,886 TANGIBLE FIXED Assf'rs - CURRENT YEAR Operating property Balance at l January 2024 Additions Disposals 1,499,950 550,000 (747,950) Balaiice at 31 December 2024 1,302,00 DEPRECIAI"ION BaSance al l January 2024 Depreciitioll chai-ge Eliminated on disposal 39,830 6,522 (25,100) Balance at 31 Dccember 2024 21,252 NET BOOIC VALUE at 31 Deceinber 2024 I,280,748 TANGIBLE FIXED ASSETS - PRIOR YEAR otyice and cornputer equipmenl Operatillg PToperty Totdl COST Balance at l January 2023 Disposal 3,779 1.499,950 1,503,729 (3,779) (3,779) Balance at 31 Deccn]ber 2Q23 1,499,950 1,499,950 DEPRECIA TION Balarkce at l January 2023 Depreciation Ch'ge Eliininated on disposal 3,779 29,830 10,000 33,609 i o,00() (3,779) (3,779) Balance at 31 December 2023 39,830 39,830 NE,T BOOK VALUE Elt ) l Decetnber 2023 1,460,120 1,460,120
EASTERN BAPTIST ASSOCIA TION PAGE 16 Accouwfs FOR THE YBAR ENDED 31 DECBMBER 2024 NOTBS TO THE ACCOLfNTS Boolc Valuc Book Value asat dsat 3111212024 3 1112/2023 OPERATING PROPERTY NET BOOK VAI.UB 46 Lhw'chill Road, Thetford 2 Buchanaii Gardens, Wicl(ford 17 8lation Road 16 Firethorn Court 59 Station Lioad 241,720 345,100 481,400 39l,900 342,720 389,570 548,458 1,280,748 1,460,120 tNVF.STMENTS - CURRENT YEAR Freehold Prop¢rty Unlisted investinent Total arlcet value at l January 2024 377,000 3.204 380,204 Marlcet value at J l December 2024 J77,000 3,204 380,204 INVESTMENTS - PRIOR YEAR I:reehold Propeity Uiilisted llivestinenl "L'otal Market value at l January 2023 37"7,000 3,204 380.204 Market value at 31 Decembei. 2023 377,000 3,204 380,204 Unlisled inveslmeiit 2024 2023 BaptÈst Insiirance Company shares Loan fund General fuiid 80L 2,403 80L 2,403 DEB TORS: Due within one year 2024 2023 Loa115 to Churches Trnde debtors Othei debtors Piepayments 2,250 15,291 420 2,920 1,685 9,010 11,260 20,316 10 CREDITORS., Due within one y¢&r 2D24 2023 AcciThals Defen'ed income 1,880 15,090 1,730 11,190 16.970 12,920
EASTERN BAPTlS'f ASSOCIAI'ION PAGE 17 ACCOUNTS bOIi TI.IE YEAti ENDED 31 DECEMBER 2024 NOTES TO I'FIE Accouwrs DFSIGNAI'ED FUNDS - CURRENT YEAR Brought foi'ward C'r1ed foL wdi'd Income Expenditiire Moveinent Transfers Migsioii 57,666 (8,156) (8,156) 49,510 57,666 (8,156) (8,156) 49,510 DESIGNAI'BD FUNDS - PRIOR YEAR Bi'ought forward Cai'ried forwai'd .Income Expenditure Movement Transfers Mission 62,666 (5,000) (5,000) 57,666 62,666 (5,000) (5,000) 57,666 12. RESTRICTED FUNDS - CURRENT YF.AR Brouglit foNard Carried forward Income Expenditure Movement Ti'ansfei's Hoille Missioii Fuiid SoLlthminster Fulld Lay Ministry Flind inisters, Benevolent Fund lllisters Training fiund Smdll Cliurch Coiinexion 55,587 38,319 8,660 3,380 2,538 (55,587) (5,383) (396) (1,485) (2,216) (2,720) (55,587) {5,243) (396) 777 {2,216) 12.668 [40 33,076 8,264 4,157 107 12,668 2,262 215) 15,388 108,484 17,790 (67,787) (49,997) (215) 58,272 RESTRICTED fuNDS - PRIOR YEAR 3rought fonvard Cari'ied forwai'd Income Bxponditure Movement Transfei's FIome Mission Fund Southnllister Fund Lay Ministry Fund Ministers, Ben¢voleiit Fund MinisleiB Tizining Fund 83,491 39,143 9,425 3,451 6,089 90,783 345 (117,637) (26,854) (1,169) (824) (765) (765) (1,116) 104 (3,551) (3,551) (1,050) 55,587 38,319 8,660 3,380 2,538 1,220 (175) 141,599 92,348 (124,238) (31,890) (1,225) 108,484
EASTF.RN BAPI'IST AS,%OCIATION PAGE 18 ACCOUNTS FOR THE YEAR ENDED 3 I DECEMBER 2023 NOTES TO I'HE ACCOUNTS 12. DESCRIPTION OF RESTRICTED bUNI)S Homc Mission Fund - support grants to BBA churches oi. to special miiiistries SouthinLnst'¢r Fund - trait]ing for mentors of newly a¢credited iniiiisters, gatherings for leaders of gmall churches. Lay Ministi'y Training - tt'aiiiing grants and support. for non-ministeritLI leader5. Ministers Benevolent Fund - siippoi't For chui'ch pastors where fin1( ncial need ariges. Mmisters Training Fund - Qombined Accredited Ministers Fund Bursary Fund in 2016. Small Church Coniiexion - ant money donated by the BU Mission Forwn for th¢ period 2024 to 2025 to fier di¢ worl< atnong tlie smaller ch'clIeS in the BU and to support the scc ream with expenses. 13, ANALYSIS OF NET ASSETS - CURRENT YEAR Unrestricted Designated Restrictsd Funds Funds Total Fuiids Tangible fed assets Investments Net current assets 1,280,748 379,403 418,971 1,280,748 380,204 525,952 801 48,709 58,272 2,079,122 49,510 58,272 2, I86,904 ANALYSIS OF NE'f ASSETS - ptUOR YEAR Unrestricted D¢signatsd Restricted riiinds Funds Total riiinds Tangible fLYed assets Investments Net cui-rent assets 1,460,120 379,403 115,801 1,460,120 3 80.204 281,150 801 56,865 108,4S4 1,955,324 57,666 108,484 2,121,474 14. LIABILITY OF TEIE MEMBfRS The Association is liniited by guarantee. In the evenl of I'he AsbocidtiotL being wound up, the liability of the menib¢rs is lllnited to £1 O. 15. IiEL,ATED PAR'fiES Duiillg the year th¢re were no related paty transaction8, 16. RBCONCILIATION OF NET MOVEMFNf IN FUNDS'fo NET CASH FLOW FROM OPEIiAI'ING ACTlVI'fiES 2024 2023 Net incotne for the reporting period as pei" SOFA Adjustments for: Dividends, interest and rents fiDm Èrnvestments Depreciation Surplus on sale of fixed assets Decrease in debtors Inci'ease/(decrease) in creditors 65,430 (98,233) (61,604) 6,522 (154,944) 9,056 4,050 (52,341) i 0,000 7,415 (5,762) Net cash used in oper2ting activities (131,490) (138,921)
EASTERN BAPTIST ASSOCIA'I'ION PAGE 19 ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2024 NOTES TO THE ACCOUNTS 17. PENSION SCHEME In 2022 JLlSt Retirenent Liinited bought out the assets and liabilities of the Baptist Pension Scheme. As such alld as a participaliiig einployer the Easten) Baptist Association is no longer requir¢d to contribute to the pension schene. There was existing d¢fi¢it recovery plan of a LJominal £1 pei month which c¢ased on 31 October 2024 As frotll 31 October 2024 tkLe employer has been released froin its commitments regarding this scheme. The CE.1tY ¢ontribtLtes to a defined Gonti'ibution s¢h¢me on behalf of its employees, tlie total ainoui)t it ontt'ibuted dui'iTrg the year was £12,359 and no aLnouiits were outstaiiding at the year end.