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2023-12-31-accounts

Charity registration number 1091066

Company registration number 04279837 (England and Wales)

THE SOUTHERN COUNTIES BAPTIST ASSOCIATION ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

THE SOUTHERN COUNTIES BAPTIST ASSOCIATION

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees: Rev'd Judith Wheatley Interim Moderator of the Trustees (Until 31st March 2023) Rev'd Christopher Brockway Moderator of the Trustees (Appointed 6th November 2023) Mr Andrew Johnson Association Treasurer (Until 6th November 2023) Mrs Ann Andrews (Until 6th November 2023) Mr Peter Brookes (Until 6th November 2023) Rev'd Anthony Clarke Regent's Park College Representative Mr Jason Collis Rev'd Simon Ford (Until 6th November 2023) Ms Emma Green Rev'd Martin Hardwidge Rev'd Clare Hooper (Appointed 1st July 2023) Rev'd Matthew Huckle (Appointed 6 November 2023) Rev'd Jonathan Keyworth Rev'd Dr Colin Norris Regional Ministry Team Leader (Until 31st Jan 2023) Ms Janet Quarry (Appointed 6th November 2023) Rev'd Christopher Walker (Appointed 6th November 2023) Rev'd Hayley Young (Appointed 1st July 2023) Regional Ministry Rev'd Hayley Young Regional Minister Co-Team Leader Team: Rev'd Clare Hooper Regional Minister Co-Team Leader, Children, Youth & Families Rev'd Stephen Barber Regional Minister Rev'd Simon Gray Regional Minister/Operations Lead (Interim Treasurer) Rev'd James Thomas Regional Minister, Mission Development Staff Team: Mrs Amy Allen Administration Manager Mr Keith Baldwin Safeguarding Adviser Charity number 1091066 Company number 04279837 Registered office and Baptist House operational address 129 Broadway Didcot Oxfordshire OX11 8XD Independent examiner Colin Dadswell FCA FCCA DChA Caladine Limited Chantry House 22 Upperton Road Eastbourne East Sussex BN21 1BF Bankers HSBC Bank plc 6 High Street Abingdon Oxfordshire OX11 8RP

THE SOUTHERN COUNTIES BAPTIST ASSOCIATION

CONTENTS

Page
Trustees' report 1 - 7
Statement of Trustees' responsibilities 8
Independent examiner's report 9
Statement of financial activities 10 - 11
Statement of financial position 12
Statement of cash flows 13
Notes to the financial statements 14 - 30

THE SOUTHERN COUNTIES BAPTIST ASSOCIATION

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 DECEMBER 2023

The Trustees, who are also directors of the Association for the purposes of company law, are pleased to present their Annual report and financial statements of the charitable company for the period 1 January 2020 to 31 December 2023, which are prepared to meet the requirements for a director’s report and accounts for Companies Act purposes.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the Charity's Memorandum and Articles of Association, the Companies Act 2006 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)".

Objectives and activities

The Southern Counties Baptist Association (also known as SCBA) is a registered charity (number 1091066). It was incorporated as a private limited company on 31 August 2001 and is governed by Articles and Memorandum of Association.

The objective of the charitable company is ‘the advancement of the Christian faith especially by means of and in accordance with the principles of the Baptist denomination, as set out for the time being, in the Declaration of Principle of the Baptist Union of Great Britain'.

The principal activities of the charitable company are the employment of Regional Ministers and administrative staff team, with the involvement of a number of volunteers, working in groups or individually, to offer support and guidance, training and financial resources to advance the Christian religion in a way which benefits Baptist churches and the communities in which they serve.

The charitable company is part of the family of Baptist organisations serving the needs of many of the Baptist Churches in Great Britain, working particularly closely with the Baptist Union of Great Britain and BMS World Mission.

Public benefit

The trustees, having regard to the Charity Commission’s guidance document, ‘public benefit: running a charity (PB2)’, continued to provide public benefit by seeking to advance the Christian religion and practice ‘according to the principles of the Baptist denomination’ and with the Objects of the charitable company. More detailed information about the activities and their success is provided in the “Achievements and Performance” section of this report.

The charitable company aims to: Short-term:

THE SOUTHERN COUNTIES BAPTIST ASSOCIATION

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

Long-term:

The aim of our charity is to inspire, connect and resource healthy churches in relationship for God’s mission and this fully reflects the purposes that the charity was set up to further. The team and trustees sought to achieve these aims in a number of ways, primarily providing support to the churches and their ministers to enable them to advance the Christian religion by public worship and their objects but also including granting assistance to churches seeking to improve their premises, encouraging churches to adopt robust safeguarding policies and practice, acting to provide help and support to churches seeking to improve their own governance and holding the Regional Ministers accountable for their support for churches seeking to advance the Christian religion in their communities.

The trustees review our aims, objectives and activities each year through appraisals of the team and the work that they have carried out. In doing this, not only are we able to ensure that our aims, objectives and activities remain focussed, but also that the team are carrying out their roles to the best of their abilities.

Significant Activities of our Association included:

The Association’s volunteers have roles either as trustees on the Steering and Strategy Group; or as non-trustee members of one of the Association working groups. The Association also uses volunteers to carry out their safeguarding training sessions, who are trained to a high standard to fulfil this role.

Achievements and performance

The Association is made up of 144 member churches of the Association, mainly located in Berkshire, Dorset, Hampshire, Isle of Wight, Oxfordshire and Wiltshire, covering thirteen counties in total. The Regional Ministers gave regular input to individual churches about good practice, backed up by the resources of the Baptist Union, as well as being involved in conflict resolution when necessary.

THE SOUTHERN COUNTIES BAPTIST ASSOCIATION

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

The testing of the call to ministry is carried out by a Ministerial Recognition Group formed as part of the SouthWest Partnership and was carried out with the four Associations. The Regional Ministers also oversee the development of ministers during their first three years of ministry. Four ministers became Fully Accredited Ministers and will be recognised at the Baptist Assembly in 2024, with ten Newly Accredited Ministers attending reflection sessions in February and September.

The Regional Ministry Team spent the year making contact with their allocated churches and ministers, giving advice and support where needed, as well as attending church meetings and leading or speaking at services, both online and in-person. They have continued to be in contact with all of the Association contacts through a monthly email with up-to-date information of what is happening both nationally and in the Association.

In January 2023, Revd Colin Norris left his role as Regional Minister Team Leader to pursue a portfolio ministry. Whilst the trustees reflected on what was needed in terms of leadership for the Regional Team, Rev. Clare Hooper became acting Team Leader. Then, following a rigorous application and interview process Rev. Clare Hooper and Rev. Hayley Young were appointed as Co-Team Leaders and took up their roles on the 1st July 2023.

Rev. Judith Wheatley retired in March 2023 and stepped down from her role as Interim Moderator. Rev. Chris Brockway was co-opted by the trustees as Interim Acting Moderator and following his appointment at the November AGM became Moderator.

The team and trustees continued to work on the Strategic Review carried out by Helen Cameron, and in particular the five strategic priorities: clusters, mission development, pioneering, children, youth and families, and leaders development; and the two main enabling priorities: the reserves policy and people strategy.

In-person Safeguarding Training continued throughout the year. The Safeguarding Training is run across the Association with a trained team of Safeguarding Trainers (all of whom are volunteers) in the light of the national policies and procedures. In 2023, 975 ministers, leaders and church members of SCBA churches were trained in level 2 and level 3 safeguarding by SCBA safeguarding trainers.

In the period 1st January 2023 to 31st December 2023, in addition to more general questions, SCBA supported 18 churches with safeguarding incidents. The continuing high number of contacts is anecdotally related to an increased in safeguarding training provision, an increased raising of awareness of what matters and an increase in societal stress. These are appropriately consulted on with SCBA leading to an increase in safeguarding matters.

Various events, training and meetings were held throughout the year. 111 Ministers and Leaders attended our three-day in Cheltenham conference held in February, led by Rev. Rosa Hunt. The first day of the conference was an opportunity for a selection of our groups to meet up together, including the children, youth and family workers, newly accredited ministers, and chaplains.

In March, an additional leaders’ day and Extraordinary General Meeting was attended by 43 ministers and leaders, led by Revd Wale Hudson-Roberts, Justice Enabler for Baptists Together, who introduced the new ‘Visions of Colour’ anti-racism course for ministers and churches. In June a leaders’ day, was attended by 54 ministers and leaders, led by Rev. Steve Tinning, for the Joint Public Issues Team, helping churches engage with some current political issues. In November, the leaders’ day and AGM was attended by 76 leaders and ministers and was led by Rev. Lisa Kerry, speaking on ‘Ministry in the Goldfish Bowl’, examining issues around power and expectation in ministry. The children, youth and families workers continued to meet both online and in person for training and support.

The Association made a difference to its beneficiaries in terms of support, advice and training when requested or offered. Also, the Home Mission Group and the Staff, Finance and Administration Group vetted and advised on the applications for Home Mission grants from 9 churches and 4 para-church organisations, including consultation about the approach taken with representatives from South-West, West and South Wales Baptist Associations with whom we informally partner. The Association has also made six grants to individuals for education and development.

THE SOUTHERN COUNTIES BAPTIST ASSOCIATION

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

At the end of 2023, there were 17 pioneers within SCBA. 8 were accredited Baptist Ministers (or MiTs); 2 were RRLs; 7 had no Baptist accreditation. The pioneers were pastorally supported by an SCBA pioneering network and represented by a pioneering steering group.

At the end of 2023 there were 46 Children, Youth and Families workers employed by churches within the Association. These CYF workers are supported by Rev Clare Hooper and the work of the CYF Steering Group.

In reviewing the achievements and performance of the Association during the reporting period, this is mainly achieved through the number of ministers, leaders, members and churches who have interacted with the Association in some way, whether through events, training, or meeting with the Regional Ministry Team.

A number of positive and negative factors, both within and outside the charity’s control, have affected achievements of its objectives. The continued employment of the Safeguarding Adviser has been an extremely positive factor, taking some of the pressure and work from the Regional Ministry Team. The working groups continue to evolve so that the varied aspects of the Association’s work are covered. The working groups are currently: Staff, Finance and Administration; Children, Youth and Families; Safeguarding; Leadership and Ministerial Development; Mission Development; Home Mission; Pioneering and Communications.

The Regional Team spend significant time engaging with local churches. However, there are also those churches who are difficult to contact, sometimes because they do not wish to have contact with the Association and are very independent. The restriction of finance and resources will continue to have a negative impact on the objectives in the future of the Association and the way the objectives are fulfilled.

In regard to fundraising activities, the Association has a major responsibility for encouraging churches to donate funds to the Baptist Union Home Mission Appeal but such encouragement is limited to drawing attention to the need and benefits during meetings and church visits, on the SCBA website, and in letters from the Association Treasurer to the church treasurers. The team has sought to be more proactive in this and are looking at producing more resources going forward. In 2023, the giving by SCBA churches failed to reach the target set for the Association by the Baptist Union.

The Association is not permitted to raise funds to meet its operational or administrative costs, other than to meet the expenses of events, such as training. However, the Association does receive gifts for the Confidential Fund, established to relive the hardship of ministers or spouses. A grant from the money raised for the Baptist Union Home Mission in 2022 was given to the Association to cover staff salaries and administrative costs in 2023, as well as to distribute to Home Mission grant recipients. This is the principal source of income to cover the operating costs of the Association. The Association did not use any material expenditure to raise income in the reporting period.

Financial review

During 2023 the overall funds of the Association increased by £419,211 (2022: a decrease of £45,825).

The Association had Unrestricted general funds of £2,363,274 at the period end and £397,174 restricted funds. The Association’s general fund totalled £1,715,039 at the end of 2023. Funds of £636,215 are held as loan funds for interest free loans to churches, of which £161,017 was on loan. In addition there were designated funds amounting to £25,078.

Reserves policy and going concern

The Association maintains reserves of £450,000 which currently represent approximately 9 months full running costs.

The trustees have recognised that, taking into account the size of the staff team, the Association will be running a deficit budget for a number of years which is likely to be with in the region of £135,000 a year unless additional funds accrue.

Given the existing level of unrestricted funds above and beyond that necessary to maintain the Association’s reserves the trustees consider the Association remains a going concern despite an excess of expenditure over income. However, since there is little prospect of a significant reduction in costs if the Association continues to operate at its current level, the trustees have engaged in the Strategic Review mentioned earlier.

THE SOUTHERN COUNTIES BAPTIST ASSOCIATION

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

The Association incurred financial costs on the majority of its events. In 2023, SCBA did charge for the Minister’ and Leaders’ Conference and the Leaders’ Days, but additional costs including the speakers fee and staff mileage are covered by the Association. The cost of providing the safeguarding training was covered by the charge to those attending. Association support, events and training also incur the costs of the Regional Ministry Team time and mileage.

In regard to investment performance, funds not required for immediate purposes were deployed with the Baptist Union Corporation Ltd, which employs investment manager. The Baptist Union Trustees monitor investment performances through their Finance and Audit Committee.

The principal risk facing the Association is the current deficit budget. This has been fully identified but the trustees, through the Staff, Finance and Administration Group. The Association trustees and Regional Ministry Team continue to meet to discuss the Strategic Review and the way forward whilst working with a deficit budget. However, monies from closed church are currently covering the deficit to some extent but cannot be relied on long-term.

The principal funding source to SCBA is form Home Mission giving from out Association churches, either through SCBA or directly to the Baptist Union. This is then put into a ‘shared pot’ with the other Association in the Union, and SCBA then receive a percentage of the total amount. An increase in giving to the Home Mission fund from SCBA churches may not directly result in an increased grant directly to SCBA.

The Association is part of a very complex multi-employer defined benefit pension scheme comprising approximately 1,200 employers. SCBA have now paid off the pension debt that was owed for the Association. Debts to churches that had closed and who did not own a building to sell were also covered by SCBA. The Association has conducted research to establish other churches whose trustees would be liable to pay the pension debt if the church closed (and if a building sale will not cover the debt) and SCBA will also be able to cover these debts.

Risk management

The Trustees have assessed the major risks to which the Charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.

Plans for Future Periods

During 2024, the charitable company will seek to continue to fulfil its objectives in creative ways that will assist in the advancement of the Christian religion and the enrichment of church and community life in the Southern Counties.

The Regional Ministry Team will plan to keep the regular activities in place. These activities include: the continuation of Safeguarding Training available to all churches and communities; supporting the member churches, both pastorally through the Regional Ministry Team, and for some, financially through grants; and hosting ministers’ and leaders’ events including a three-day conference and the AGM. The Board of Trustees will continue to work on the findings of the Strategic Review of the Association, particularly reviewing the current deficit.

Structure, governance and management

The charitable company is governed by its Memorandum of Association and Articles of Association and Rules. The Objects of this charitable company are the advancement of the Christian religion especially by the means of and in accordance with the principles of the Baptist denomination as set out for the time being in the Declaration of Principle of The Baptist Union of Great Britain.

The charity is an Incorporated Private Limited Company and is constituted of a board of eleven trustees, who are also the Company’s Directors, including the Moderator and the Treasurer, who oversee the works of the charity. The charity’s members are the 144 churches within the Association, who have the right to appoint two representatives to attend and to vote at the general meeting of the Association.

THE SOUTHERN COUNTIES BAPTIST ASSOCIATION

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

The board of Trustees consists of:

The Trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:

Mr Andrew Johnson Mrs Anne Andrews (Resigned 6 November 2023) Revd Christopher Brockway (Appointed 17 May 2023) Mr Peter Brookes (Resigned 6 November 2023) Rev'd Anthony Clarke Mr Jason Collis Rev'd Simon Ford (Resigned 6 November 2023) Ms Emma Green Rev'd Martin Hardwidge Revd Clare Hooper (Appointed 1 July 2023) Revd Jonathan Keyworth Rev'd Dr Colin Norris (Resigned 31 January 2023) Rev'd Judith Wheatley (Resigned 31 March 2023) Revd Hayley Young (Appointed 1 July 2023) Revd Matthew Huckle (Appointed 6 November 2023) Ms Janet Quarry (Appointed 6 November 2023) Revd Christopher Walker (Appointed 6 November 2023)

Up to six trustees can be appointed on to the trustee board, three of which will be appointed solely to enable the trustee board to positively represent the age, sex and ethnic origin of the membership of the member churches.

The Association Moderator is at the head of the Association. Below this role are the rest of the board of the trustees including the Association Treasurer. The Regional Ministry Co-Team Leaders are responsible for the rest of the team of three Regional Ministers and two support staff. A structure of strategic and enabling groups is in place to support the various aspects of the Association. These areas are: Staff Finance and Administration; Leadership and Ministerial Development; Children, Youth and Families; Safeguarding; Pioneer Mission; Mission Development; Home Mission and Communication. In line with the Memorandum and Articles, the majority of the decisions made by the charity as a whole will be made by the board of trustees, though on occasions, the other strategy groups or Regional Ministry Team will make decisions and inform the board of trustees of these decisions.

THE SOUTHERN COUNTIES BAPTIST ASSOCIATION TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Prospective truste8s are advised of the qualifficalions for serving as chanty trustees and directh. They ar8 invited to an infomal discussion wrth the Moderator or Regional Ministy c￿Tearn Leaders to discuss the appointment. On appointment they are provided wrth an overliew of the goveming documents of instruments and activits'es of the dwrtsble company, along wrth the Asso￿a￿'0n FK)licies and past trustee meets'ng minutes. Tnjstees are invited lo various training sessions hosted by the Associab"on or Bapts'st Union for its members, induding Data Protection and Safeguarding. The Regional Ministry Team are paid a sts'pend which is in line with the recommended stipend by the Bapts'st Union plus a percentage depending on their position in the team. Housing allowance and expensès are also paid on a montNy bass. The rest of the staff team are paid a salary. deu'd8d by the bowd of trustees. F4us any outvof-pocket expenses. All vdunteers with•n Ihe Ass(X?at￿ are pad any oth-of-pocket expenses, particularly for travel to and from meeting and events. Key Management personnel remuneration.. the charftable company consider thelr key management personnel to be the chantable company's board of trustees. The pay and remuneration of the employees of the charitable is set by the charitable cornpany throuth the board of trustees armd rts finance group and is based upon the Bapts'st Union recommended stipend. The charrtable company 18 a member of the Bapts'st Union of Great Britain. paying a subscription to this charity. Funds from the Home Mission fund, which is the principle wiyking lund of th8 Union. are received by the charitable company and dispersed by its Grants Group. as well as used for the running of the Associ'on. Th8 AssociatKn also works infomally in partnership wrth three other association within the Bapts'sl UnK)n.' of England 8apts.st Netr4vork. South INest Bapts'sl Associatson and South Wales Baptist Association. The partnership is mainly for mutud support, lnw'ratl￿ and advica in pursuThJ the aims and obfftth'ves of the Associats'on$. The Tru8tees' report was approved by the Board ol Tiustees. MrAndrew TN$tee Dated......S.. 20 L

THE SOUTHERN COUNTIES BAPTIST ASSOCIATION

STATEMENT OF TRUSTEES' RESPONSIBILITIES

FOR THE YEAR ENDED 31 DECEMBER 2023

The Trustees, who are also the directors of The Southern Counties Baptist Association for the purpose of company law, are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company Law requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the Charity and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year.

In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

THE SOUTHERN COUNTIES BAPTIST ASSOCIATION

INDEPENDENT EXAMINER'S REPORT

TO THE TRUSTEES OF THE SOUTHERN COUNTIES BAPTIST ASSOCIATION

I report to the Trustees on my examination of the financial statements of The Southern Counties Baptist Association (the Charity) for the year ended 31 December 2023.

Responsibilities and basis of report

As the Trustees of the Charity (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (the 2006 Act).

Having satisfied myself that the financial statements of the Charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the Charity’s financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act). In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

Since the Charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of The Association of Chartered Certified Accountants, which is one of the listed bodies.

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.

Colin Dadswell FCA FCCA DChA

Caladine Limited

Chantry House 22 Upperton Road Eastbourne East Sussex BN21 1BF

Dated: .........................

THE SOUTHERN COUNTIES BAPTIST ASSOCIATION

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 DECEMBER 2023

Current financial year Unrestricted Unrestricted Unrestricted Unrestricted Restricted Restricted Total Total
funds funds funds
general designated
2023 2023 2023 2023 2022
Notes £ £ £ £ £
Income and endowments from:
Donations and legacies 3 4,186 6,651 3,066 13,903 27,120
Charitable activities 4 252,451 - - 252,451 351,581
Investments 5 32,835 - - 32,835 12,912
Other income 6 640,835 - 8,419 649,254 39,731
Total income 930,307 6,651 11,485 948,443 431,344
Expenditure on:
Charitable activities 7 553,763 57,626 7,397 618,786 530,934
Total expenditure 553,763 57,626 7,397 618,786 530,934
Net gains/(losses) on
investments 12 89,554 - - 89,554 -
Net income/(expenditure) 466,098 (50,975) 4,088 419,211 (99,590)
Transfers between funds 24 (65,127) (24,941) 90,068 - -
Other recognised gains and
losses:
Actuarial gains on defined
benefit pension schemes - - - - 53,765
Net movement in funds 10 400,971 (75,916) 94,156 419,211 (45,825)
Reconciliation of funds:
Fund balances at 1 January 2023 1,962,303 100,994 303,018 2,366,315 2,412,140
Fund balances at 31 December
2023 2,363,274 25,078 397,174 2,785,526 2,366,315

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

THE SOUTHERN COUNTIES BAPTIST ASSOCIATION

STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED) INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 DECEMBER 2023

Prior financial year Unrestricted Unrestricted Unrestricted Unrestricted Restricted Restricted Total
funds funds funds
general designated
2022 2022 2022 2022
Notes £ £ £ £
Income and endowments from:
Donations and legacies 3 1,000 - 26,120 27,120
Charitable activities 4 351,581 - - 351,581
Investments 5 12,912 - - 12,912
Other income 6 39,731 - - 39,731
Total income 405,224 - 26,120 431,344
Expenditure on:
Charitable activities 7 462,560 39,656 28,718 530,934
Total expenditure 462,560 39,656 28,718 530,934
Net income (57,336) (39,656) (2,598) (99,590)
Transfers between funds 24 (38,266) 37,956 310 -
Other recognised gains and losses:
Actuarial gains on defined benefit pension
schemes 53,765 - - 53,765
Net movement in funds 10 (41,837) (1,700) (2,288) (45,825)
Reconciliation of funds:
Fund balances at 1 January 2022 2,004,140 102,694 305,306 2,412,140
Fund balances at 31 December 2022 1,962,303 100,994 303,018 2,366,315

THE SOUTHERN COUNTIES BAPTIST ASSOCIATION STATEMENT OF FINANCIAL POSITION AS AT 31 DECEMBER 2023 2023 2022 Flxed a$8ets Propety, plant and equiwient Investments 16 16 943.850 12,020 1.290.133 12,020 955,870 1,302,153 Curront assets Debtors falling due after one y Debtors falling due Y￿thIn one year Cash at bank arKI in hand 19 19 139,965 36.160 1,703.117 184,827 29,183 947,204 1,879,242 49,586 1.181,214 47,052 Currnnt Ilabllltl 21 Net current asset¥ 1,829,658 1,114,182 Total ass•ts1ou ¢urr•nt Ilabllltles 2.785,526 2,418,315 Non4urr•nt Ilabllltles 20 (50,000) Not a•s•ts 2,785,526 2,388,315 The funds of th• Charlty Restricted income funds Unrestn'cled funds - general Unrestricted funds - designated 397,174 2,363,274 25,078 303,018 1,962.303 100,994 25 2,785,526 2.366,315 The company is entitled to the exemptson from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 December 2023. The directors ackn(pwledge their re8pon&'bdities for (X¥n￿l￿ with the rewirements of the Crynpanie8 Act 2006 with respect lo acccwnting records and the yeparation of financial statements. The members have not required the comwy to obtain an audrt of its financi* Statern￿ts for the year in qu88tion In accordance with section 476. These financial statements have been Fwred in acc￿danCe Imlh the w0vis1Th￿ arWicaNe to companies subj.ect to Ihe small companies regime. The finanoal statements were approved by the Trustees on .1fj1h.Jy.ty..2024 Mr Andrèw Thistee son Company registration number 04279837 {En￿and and Wales) 12-

THE SOUTHERN COUNTIES BAPTIST ASSOCIATION

STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED 31 DECEMBER 2023

2023 2022
Notes £ £ £ £
Cash flows from operating activities
Cash generated from/(absorbed by) 30
operations 334,331 (98,249)
Investing activities
Purchase of property, plant and equipment (449,979) (501,652)
Proceeds from disposal of property, plant
and equipment 347,936 -
Proceeds from disposal of investment
property 541,305 -
Investment income received 32,835 12,912
Net cash generated from/(used in)
investing activities 472,097 (488,740)
Financing activities
Repayment of borrowings (50,000) -
Net cash used in financing activities (50,000) -
Net increase/(decrease) in cash and cash
equivalents 756,428 (586,989)
Cash and cash equivalents at beginning of year 946,689 1,533,678
Cash and cash equivalents at end of year 1,703,117 946,689
Relating to:
Cash at bank and in hand 1,703,117 947,204
Bank overdrafts included in creditors payable
within one year - (515)

THE SOUTHERN COUNTIES BAPTIST ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

1 Accounting policies

Company information

The Southern Counties Baptist Association is a private company limited by guarantee incorporated in England and Wales. The registered office is Baptist House, 129 Broadway, Didcot, Oxfordshire, OX11 8XD.

1.1 Accounting convention

The financial statements have been prepared in accordance with the Charity's Memorandum and Articles of Association, the Companies Act 2006 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)". The Charity is a Public Benefit Entity as defined by FRS 102.

The financial statements are prepared in sterling, which is the functional currency of the Charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2 Going concern

At the time of approving the financial statements, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds

Unrestricted funds - represent those funds which can be used in accordance with the Association's charitable objects at the discretion of the Trustees.

Designated funds - represent those funds set aside by the trustees out of unrestricted general funds for specific future purposes or projects.

Restricted fund - can only be used for a particular restricted purpose within the charitable objects. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

1.4 Income

Income is recognised in the Statement of Financial Activities when the Charitable Company has entitlement to the funds; any performance conditions attached to the item(s) of income have been met; it is probable that the income will be received; and that the amount can be measured reliably.

THE SOUTHERN COUNTIES BAPTIST ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

1 Accounting policies (Continued)

1.5 Expenditure

Expenditure is recognised in the Statement of Financial Activities once there is a legal constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably.

Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.

Expenditure under £2,000 on office furniture and computer equipment is written off as incurred. Expenditure over £2,000 on a single item will be written off over 4 years.

Support costs are those that assist the work of the association but do not directly represent the charitable activities and include governance costs.

Governance costs comprise all costs involving the public accountability of the association and its compliance with regulation and good practice. These costs include costs relating to the statutory accounts and independent examination.

Support costs have been 100% allocated to the charitable activity.

1.6 Property, plant and equipment

Property, plant and equipment are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following basis:

Freehold land and buildings Freehold Land - Nil, Freehold Buildings - Over 30 years

Depreciation of buildings is based on an anticipated useful life of 30 years with a residual value equal to two thirds of the original cost.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in net income/(expenditure) for the year.

No depreciation is provided in the year of acquisition.

1.7 Non-current investments

Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year. Transaction costs are expensed as incurred.

1.8 Impairment of non-current assets

At each reporting end date, the Charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

THE SOUTHERN COUNTIES BAPTIST ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

1 Accounting policies (Continued)

1.9 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.10 Financial instruments

The charity only has financial assets and liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

Debtors

Loans are considered concessionary loans as they are made by the charity to further its purposes. Loans are initially measured at the amount paid, with the carrying amount adjusted subsequently to reflect repayments. There is no interest charged on the loan amounts. Where any loan made is considered to be irrecoverable an impairment loss is recognised.

Other debtors are recognised at the settlement amount due.

Creditors

Creditors are recognised where the association has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably.

Accruals and other creditors are recognised at their settlement amount due.

Provisions for liabilities

A liability for the agreed pension scheme deficit plan has been included, in accordance with the Baptist Union Staff Pension Scheme Schedule of Contributions dated 16 December 2018.

1.11 Taxation

The charitable company is considered to pass the tests set out in Paragraph 1 Schedule 6 Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part II Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.

1.12 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the Charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.13 Retirement benefits

Defined contribution pension plans

The Association operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the charity pays fixed contributions into a separate entity. Once the contributions have been paid the charity has no further payments obligations. The contributions are recognised as an expense when they are due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the charity in an independently administered fund.

THE SOUTHERN COUNTIES BAPTIST ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

2 Judgements and key sources of estimation uncertainty

Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

� Recoverability of loan

The recoverability of loans are assessed annually, and at the balance sheet date provisions for doubtful debts are provided based on prior year experiences.

3 Donations and legacies

Unrestricted Unrestricted Unrestricted Unrestricted Restricted Restricted Total Total
funds funds funds
general designated
2023 2023 2023 2023 2022
£ £ £ £ £
Donations and gifts 4,186 6,651 3,066 13,903 27,120
Donations and gifts
Church of the Year gifts - - 2,866 2,866 3,962
Confidential Fund donations - - 200 200 190
Rural Ministry Grant - 6,651 - 6,651 21,968
Loan Termination Gifts (SCBA Loan
Fund) 4,001 - - 4,001 -
Other donations 185 - - 185 1,000
4,186 6,651 3,066 13,903 27,120

4 Income from charitable activities

Unrestricted Unrestricted
funds funds
2023 2022
£ £
Charitable activities
Preaching and other fees 4,574 2,939
Leaders' Days & SCBA Event fees 1,500 1,921
SCBA Ministers' Conference Fees 19,792 16,437
Baptist Union grant for Operational Activities 216,689 296,370
Children youth & family retreat and safeguarding training 1,270 12,270
Charitable rental income 8,410 16,945
Other income 216 4,699
252,451 351,581

THE SOUTHERN COUNTIES BAPTIST ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

5 Income from investments

Unrestricted Unrestricted
funds funds
2023 2022
£ £
Rental income 4,909 -
Loan and General Funds on Deposit with BU 27,525 12,511
Baptist Insurance Co Ltd - Dividends 401 401
32,835 12,912

6 Other income

Unrestricted Restricted Total Unrestricted Restricted Total
funds funds funds funds
2023 2023 2023 2022 2022 2022
£ £ £ £ £ £
Net gain on disposal of
tangible fixed assets - 8,419 8,419 - - -
Closure of Redundant
Churches 640,835 - 640,835 39,731 - 39,731
640,835 8,419 649,254 39,731 - 39,731

THE SOUTHERN COUNTIES BAPTIST ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

7 Expenditure on charitable activities

Charitable Charitable
Charitable
Charitable
activities activities
2023 2022
£ £
Direct costs
Staff costs 343,012 283,533
Depreciation and impairment 4,994 7,283
Travel and Accommodation 32,105 22,537
Leaders Days and SCBA Event Costs 13,461 8,293
SCBA Ministers Conference 29,947 19,153
Community Learning Tutor - 4,000
Confidential Fund 3,158 500
CYF Working group 2,421 3,021
Pioneer Mission Fund Expenses 12,729 1,309
441,827 349,629
Grant funding of activities (see note 8) 135,301 152,204
Share of support and governance costs (see note 9)
Support 33,266 20,722
Governance 8,392 8,379
618,786 530,934
Analysis by fund
Unrestricted funds - general 553,763 462,560
Unrestricted funds - designated 57,626 39,656
Restricted funds 7,397 28,718
618,786 530,934
Grants payable
Charitable
Charitable
activities activities
2023 2022
£ £
Grants to institutions:
Home Mission Grant 118,565 128,520
Churches Together Grants 2,460 2,220
Church of the year 4,176 4,264
Warm spaces Grant 6,100 15,500
Educational and Sabbatical Grant 4,000 1,700
135,301 152,204

8 Grants payable

THE SOUTHERN COUNTIES BAPTIST ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

9 Support costs allocated to activities

2023 2022
£ £
Office Expenses and IT 1,094 1,349
Telephone 2,663 3,003
Volunteer Exp. and Fees 4,470 1,338
Staff Book & Study Allowance 3,490 1,052
Insurance 4,790 1,830
Building Hire 3,500 3,500
Baptist Union Subs 871 844
Interest on pension deficit - 1,137
Other expenditure 12,388 6,669
Governance costs 8,392 8,379
41,658 29,101
Analysed between:
Charitable activities 41,658 29,101
2023 2022
Governance costs comprise: £ £
Legal and professional 1,759 1,566
Accountancy & IE 4,140 4,020
Bank Charges 521 350
Software and other subscriptions 845 1,325
Payroll fees 1,127 1,118
8,392 8,379
10 Net movement in funds 2023 2022
£ £
The net movement in funds is stated after charging/(crediting):
Depreciation of owned property, plant and equipment 4,994 7,283
Profit on disposal of property, plant and equipment (8,419) -
Profit on disposal of investment property (89,554) -

THE SOUTHERN COUNTIES BAPTIST ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

11 Trustees

Trustee Rev'd Dr C Norris was paid a salary of £3,312 (2022: £37,271) and benefitted from employer pension contributions totalling £420 (2022: £6,415) for his work as the Regional Ministry Team Leader. Trustee Rev'd C Hooper was paid a salary of £27,375 (2022: £Nil) and benefitted from employer pension contributions totalling £2,522 (2022: £Nil) for her work as the Regional Ministry Co-Team Leader. Trustee Rev'd H Young was paid a salary of £27,375 (2022: £Nil) and benefitted from employer pension contributions totalling £2,522 (2022: £Nil) for her work as the Regional Ministry Co-Team Leader. The authority to employee Trustees is contained within the Charity's governing document.

During the year ten Trustees were reimbursed a total of £2,896 for travel and other expenses (2022: five Trustees were reimbursed a total of £1,215).

12 Gains and losses on investments

Unrestricted Unrestricted
funds funds
2023 2022
Gains/(losses) arising on: £ £
Sale of investment properties 89,554 -

13 Taxation

The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.

THE SOUTHERN COUNTIES BAPTIST ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

14 Employees

Number of employees

The average monthly number of employees during the year was:

Number of employees
The average monthly number of employees during the year was:
2023 2022
Number Number
Full time Regional Ministers 2 3
Part time Regional Ministers 3 2
Full time Administrator 1 1
Part time Support Staff (Admin Assistants) 2 1
Dorset Missional Listener - 2
Pioneer Missioner - 1
8 10
Employment costs 2023 2022
£ £
Wages and salaries 218,068 201,209
Social security costs 15,568 11,872
Other pension costs 22,764 15,198
Housing costs 86,612 55,254
343,012 283,533

There were no employees whose annual remuneration was £60,000 or more.

THE SOUTHERN COUNTIES BAPTIST ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2023

15 Property, plant and equipment
Freehold land
and buildings
£
Cost
At 1 January 2023 1,310,903
Additions 449,979
Disposals (357,500)
Transfer to investment property (451,751)
At 31 December 2023 951,631
Depreciation and impairment
At 1 January 2023 20,770
Depreciation charged in the year 4,994
Eliminated in respect of disposals (7,944)
Transfer to investment property (10,039)
At 31 December 2023 7,781
Carrying amount
At 31 December 2023 943,850
At 31 December 2022 1,290,133
16 Fixed asset investments
Baptist
Insurance Co
PLC
£
Cost or valuation
At 1 January 2023 & 31 December 2023 12,020
Carrying amount
At 31 December 2023 12,020
At 31 December 2022 12,020

There are no Investments held outside the UK.

The equity investment relates to 2,404 ordinary £5 shares held in Baptist Insurance Company PLC (registered company number 00083597), a public company limited by shares. As these shares are not actively traded through Stock Markets, no Market Value can be obtained, resulting in the shares being valued at original cost.

THE SOUTHERN COUNTIES BAPTIST ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

17 Investment property

Investment property
2023
£
Fair value
At 1 January 2023 -
Transfers from owner-occupied property 451,751
Disposals (451,751)
At 31 December 2023 -

Investment property comprises a former manse at 47 Valence Crescent, Witney. The property had been let following a vacancy for two years and was transferred from fixed asset property at its net book value (cost less depreciation). The property was subsequently sold with a gain of £89,554.

18 Borrowings

Borrowings
2023 2022
£ £
Bank overdrafts - 515
Other loans - 50,000
- 50,515
Payable within one year - 515
Payable after one year - 50,000
Trade and other receivables
2023 2022
Amounts falling due within one year: £ £
Loans to churches 21,052 26,462
Other receivables 4,194 -
Prepayments and accrued income 10,914 2,721
36,160 29,183
2023 2022
Amounts falling due after more than one year: £ £
Loans to churches 139,965 184,827
Total debtors 176,125 214,010

19 Trade and other receivables

As at 31 December 2023 total loans to churches amounted to £161,017 (2022: £211,289). No new loans were advanced to churches during the year (2022: £43,550) and repayments of loans during the year amounted to £50,272 (2022: £27,271).

THE SOUTHERN COUNTIES BAPTIST ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2023

20 Non-current liabilities

20 Non-current liabilities
2023 2022
£ £
Borrowings - 50,000
21 Current liabilities
2023 2022
Notes £ £
Bank overdrafts 18 - 515
Deferred income 22 7,718 5,795
Other payables 37,628 36,542
Accruals and deferred income 4,240 4,200
49,586 47,052
22 Deferred income
2023 2022
£ £
Other deferred income 7,718 5,795
Deferred income is included in the financial statements as follows:
2023 2022
£ £
Deferred income is included within:
Current liabilities 7,718 5,795
Movements in the year:
Deferred income at 1 January 2023 5,795 4,485
Released from previous periods (5,795) (4,485)
Resources deferred in the year 7,718 5,795
Deferred income at 31 December 2023 7,718 5,795

Deferred income relates to subscriptions received for the 2024 Minister and Leaders Conference prior to the balance sheet date.

23 Retirement benefit schemes
2023 2022
Defined contribution schemes £ £
Charge to profit or loss in respect of defined contribution schemes 45,528 30,396

THE SOUTHERN COUNTIES BAPTIST ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

23 Retirement benefit schemes (Continued)

The Charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the Charity in an independently administered fund.

24 Restricted funds

The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.

At 1 January At 1 January
Incoming
Incoming
Resources
Resources
Transfers
Transfers		 At 31
2023 resources expended December
2023
£ £ £ £ £
Confidential Fund - 200 (1,014) 814 -
Church of the Year 3,462 2,866 (4,176) - 2,152
Hill Street, Poole Property 299,556 8,419 (2,207) 89,254 395,022
303,018 11,485 (7,397) 90,068 397,174
Previous year: At 1 January
Incoming
Resources
Transfers		 At 31
2022 resources expended December
2022
£ £ £ £ £
Confidential Fund - 190 (500) 310 -
Church of the Year 3,764 3,962 (4,264) - 3,462
Pioneer Mission Fund - 21,968 (21,968) - -
Hill Street, Poole Property 301,542 - (1,986) - 299,556
305,306 26,120 (28,718) 310 303,018

Church of the Year Fund is to receive and distribute gifts received from churches for the annually nominated Church of the Year within the association.

Pioneer Mission is a fund designated to support new and exciting ways of mission across the association. In conjunction with the appointment of a regional minister.

Hill Street, Poole Property represents the net book value of a property passed to SCBA when the Church located at Hill Street, Poole, Dorset closed. The Church directed that the property should be used to facilitate pioneer mission in Hamworthy and thus has restricted use. During the year the original property was sold and a replacement purchased. The property is used to house a mission family currently undertaking this work.

THE SOUTHERN COUNTIES BAPTIST ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

25 Unrestricted funds - designated

These are unrestricted funds which are material to the Charity's activities.

At 1 January At 1 January
Incoming
Incoming
Resources
Resources
Transfers
Transfers		 At 31
2023 resources expended December
2023
£ £ £ £ £
Education & sabbatical grants 17,878 - (4,000) - 13,878
Abraham Trust (Confidential) 11,200 - - - 11,200
Pension fund deficit reserve 71,916 - - (71,916) -
Pioneer mission funds - 6,651 (53,626) 46,975 -
100,994 6,651 (57,626) (24,941) 25,078
Previous year: At 1 January
Incoming
Resources
Transfers		 At 31
2022 resources expended December
2022
£ £ £ £ £
Education & Sabbatical Grants 19,578 - (1,700) - 17,878
Abraham Trust (Confidential) 11,200 - - - 11,200
Pension Fund Debt Reserve 71,916 - - - 71,916
Pioneer Mission Fund - - (37,956) 37,956 -
102,694 - (39,656) 37,956 100,994

Abraham Trust / Confidential Fund is to be used to support those in need in churches which were part of the former OEGBA.

Educational and Sabbatical Grants Fund represents amounts set aside to support individuals from member churches through sabbaticals and participation in other educational opportunities relating to Christian service or ministry.

Pioneer Mission is a fund designated to support new and exciting ways of mission across the association. In conjunction with the appointment of a regional minister. Some restricted funds were received for this work in the year and so the movement on the fund was moved and shown as restricted. Monies assigned by the Trustees to the project held in this fund were transferred to the restricted fund to cover the deficit in the year,

THE SOUTHERN COUNTIES BAPTIST ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

26 Unrestricted funds

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

At 1 January At 1 January Incoming
Resources
Resources		 Transfers Gains and Gains and At 31
2023 resources expended losses December
2023
£ £ £ £ £ £
Investment in
Baptist
Insurance
Company 12,020 - - - - 12,020
Loan Funds
(including Alden
Memorial) 636,215 - - - - 636,215
General funds 1,314,068 930,307 (553,763) (65,127) 89,554 1,715,039
1,962,303 930,307 (553,763) (65,127) 89,554 2,363,274
Previous year: At 1 January Incoming
Resources		 Transfers Gains and At 31
2022 resources expended losses December
2022
£ £ £ £ £ £
Investment in
Baptist
Insurance
Company 12,020 - - - - 12,020
Loan Funds
(including Alden
Memorial) 636,215 - - - - 636,215
General funds 1,355,905 405,224 (408,795) (38,266) - 1,314,068
2,004,140 405,224 (408,795) (38,266) - 1,962,303

General Funds are held to support ongoing activities of the company.

Loan Funds are held to enable loans to be made to member churches to support projects, typically building projects.

THE SOUTHERN COUNTIES BAPTIST ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

27 Analysis of net assets between funds

Unrestricted Unrestricted Unrestricted Restricted Restricted Total
funds funds funds
general designated
2023 2023 2023 2023
£ £ £ £
Fund balances at 31 December 2023 are represented by:
Property, plant and equipment
546,676		 - 397,174 943,850
Investments
12,020		 - - 12,020
Current assets/(liabilities)
1,804,578		 25,078 - 1,829,656
2,363,274 25,078 397,174 2,785,526
Unrestricted Unrestricted Restricted Total
funds funds funds
general designated
2022 2022 2022 2022
£ £ £ £
Fund balances at 31 December 2022 are represented by:
Property, plant and equipment
940,577		 - 349,556 1,290,133
Investments
12,020		 - - 12,020
Current assets/(liabilities)
1,009,706		 100,994 3,462 1,114,162
Long term liabilities
-		 - (50,000) (50,000)
1,962,303 100,994 303,018 2,366,315

28 Home Mission Giving

The arrangements for making Home Mission Gifts from churches to the Baptist Union were changed during 2005. A new joint account, SCBA/Baptist Union, was set up so that churches and the SCBA can transfer their gifts to this account, but only the Baptist Union has authority to withdraw funds. As the SCBA is not beneficially entitled to retain any of the monies given by the churches for Home Mission, these gifts are transferred directly to the Baptist Union and do not need to be included in the SCBA's Statement of Financial Activities.

Giving to Home Mission by churches and groups within the SCBA area was £341,908 (2022: £337,987).

29 Related party transactions

There were no disclosable related party transactions during the year (2022 - none).

THE SOUTHERN COUNTIES BAPTIST ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

30 Cash generated from operations 2023 2022
£ £
Surplus/(deficit) for the year 419,211 (99,590)
Adjustments for:
Investment income recognised in statement of financial activities (32,835) (12,912)
Gain on disposal of property, plant and equipment (8,419) -
Gain on disposal of investment property (89,554) -
Depreciation and impairment of property, plant and equipment 4,994 7,283
Difference between pension charge and cash contributions - (7,333)
Movements in working capital:
Decrease/(increase) in trade and other receivables 37,885 (15,957)
Increase in trade and other payables 1,126 28,950
Increase in deferred income 1,923 1,310
Cash generated from/(absorbed by) operations 334,331 (98,249)
31 Analysis of changes in net funds
At 1 January Cash flows At 31 December
2023 2023
£ £ £
Cash at bank and in hand 947,204 755,913 1,703,117
Bank overdrafts (515) 515 -
946,689 756,428 1,703,117
Loans falling due after more than one year (50,000) 50,000 -
896,689 806,428 1,703,117