## ## ## |Rev|A Afriyie||Miss N Idehen (appointed|3 March 2021)| |---|---|---|---|---| |Rev|P Barnard||Mrs F Ogunyide|| |Rev|Dr A Beavis||Mrs M Ross|| |Miss|A Buhari||Rev J Schofield|| |Mrs|J Dehaney|(until 14July 2020)|Mr N Sherringham|| |Rev|G Hindmarch||Rev LWright (appointed|3 March 2021)| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ||||||||CI) N Cl
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IY IL||| ## ## |||Note|2020|2019|| |---|---|---|---|---|---| |FIXEDASSETS|||||| |Tangible fixed assets||2a|5,893,910||5,753,151| |Investments||3a|6,595,015||5,246,733| |Concessionary
loans to churches||4|1,570,923||1,460,719| ||||14,059,848||12,460,603| |CURRENT ASSETS|||||| |Debtors (including
E2,412,066|||||| |(2019:E2,677,073)recoverable||5a|3,565,585|3,814,594|| |after more than one year)|||||| |Investments
(Short term deposits)|||7,079,977|12,077,526|| |Cash held by stockbrokers|||54,212|39,144|| |Cash at bank|||3,900,844|1,646,571|| ||||14,600,618|17,577,835|| |CREDITORS:|||||| |Amounts
failing due within
year|one|6a|(12,752,308)|(14,637,667)|| |NET CURRENT ASSETS|||1,848,310||2,940,168| |Total Assets less current|liabilities||15,908,158||15,400,771| |PROVISIONS FOR LIABILITIES||19|(107,377)||(171,857)| |NET ASSETS||17|15,800,781||15,228,914| |ENDOWMENT
FUNDS|||3,087||3,087| |RESTRICTED FUNDS|||||| |Realised funds|||4,439,147|4,448,512|| |Revaluation
reserve|||1,157,638|927,863|| ||||5,596,785||5,376,375| |UNRESTRICTED FUNDS|||||| |Realised funds —Other funds|||8,439,590|8,449,106|| |Revaluation
reserve||16|1,761,319|1,400,346|| ||||10,200,909||9,849,452| ||||15,800,781||15,228,914| ## |||||2020|2019| |---|---|---|---|---|---| ||||Note||| |Cash (used)/provided
by operating|activities|||(1,950,606)|520,425| |Cash flows from investing
activities|||||| |Dividends,
interest and rents from investments||||219,462|257,158| |Proceeds on sale offixed assets|||||578,344| |Purchase offixed assets
Proceeds on sale ofinvestments||||693,576|(
64,382)
1,322,800| |Purchase of investments
Net advances of long term loans to churches
Cash (used in)/provided
by investing
activities||||(1,580,436)
~110,204
~777.602|( 558,644)
~373,488
1,161,788| |(Decrease)/increase
in cash and cash equivalents||in|||| |the year||||(2,728,208)|1,682,213| |Cash and cash equivalents
as at 1January||||13,763,241|12,081,028| |Cash and cash equivalents
as at 31|December|||11,035,033|13,763,241| |(i) Reconciliation
o|fnet income to cash (used in)/provided|by operating
activities|| |---|---|---|---| |Net income||571,867|631,384| |Depreciation
charges||9,241|9,136| |Dividends,
interest and rents from investments||(219,462)|(257,158)| |Gains on disposal of|tangible fixed assets||(78,279)| |Gains on tangible fixed assets||(150,000)|| |Gains on investment|assets|(461,422)|(470,090)| |Decrease
in debtors
(Decrease)/increase|in creditors|249,009
~1,949,839
~1,960,606|558,904
126,528
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0I-| ## ## |COMPANY BALANCE SH
|EET|||||| |---|---|---|---|---|---|---| |AT 31 DECEMBER 2020|||||Company|number: 04325272| |||Note|2020|||2019| |FIXEDASSETS||||||| |Tangible fixed assets||2b||5,095,791||5,003,322| |Investments||3b||5,914,367||5,493,318| |Concessionary
loans to churches||4||1,570,923||1,460,719| ||||12,581,081|||11,957,359| |CURRENT ASSETS||||||| |Investments
(Deposits with
Baptist Property Board)|the London||1,222,610||1,530,666|| |Debtors||5b|475||8,413|| |Cash held by stockbrokers|||54,212||39,144|| |Cash at bank and in hand|||10,160||32,540|| ||||1,287,457||1,610,763|| |CREDITORS: AMOUNTS|FALLING|||||| |DUE WITHIN ONE YEAR||||||| |Sundry creditors||6b|(174,101)||(277,197)|| |NET CURRENT ASSETS||||1,113,356||1,333,566| |Total Assets less current liabilities|||13,694,437|||13,290,925| |CREDITORS: AMOUNTS|FALLING|||||| |DUE AFTER ONE YEAR||||||| |Loans from the London Baptist||||||| |Property
Board Limited||||(91,584)||(91,584)| |PROVISION FOR LIABILITIES||19||(107,377)||(171,857)| |NET ASSETS||7,8|13,495,476|||13,027,484| |REPRESENTED BYFUNDS:||||||| |ENDOWMENT
FUNDS||||3,087||3,087| |RESTRICTED FUNDS||||||| |Realised funds|||4,439,147||4,448,512|| |Revaluation
reserve|||1,157,638||927,863|| ||||5,596,785|||5,376,375| |UNRESTRICTED FUNDS||||||| |Realised funds —Other funds|||7,281,666||7,292,824|| |Revaluation
reserve||16|613,938||355,198|| ||||7,895,604|||7,648,022| ||||13,495,476|||13,027,484| |Approved
by the Board of Directors 11 May||2021 and signed on their||behalf;||| |Moderator|||Director|||| |Rev A Afriyie|||arnard|||| ## |||||2020||2019|| |---|---|---|---|---|---|---|---| |||||Group|Company|Group|Company| |Income||||697,553|660,126|1,070,477|981,937| |Interest and investment|income|||219,462|117,427|257,158|117,714| |Gains on investments||||461,422|409,189|470,090|397,909| |Gross income in the reporting||period||1,378,437|1,186,742|1,797,725|1,497,560| |Expenditure||||947,329|811,219|1,157,205|923,417| |Depreciation||||9,241|7,531|9,136|7,720| |Total expenditure
in the reporting
period||||956,570|818,750|1,166,341|931,137| |Surplus for the year||||421,867|367,992|631,384|566,423| |TATEMENT OF COMPREHENSIVE|||INCOME||||| |||||2020||2019|| |||||Group|Company
f|Group|Company| |Surplus for the year||||421,867|367,992|631,384|566,423| |Gains on revaluation
of|fixed assets|||150,000|100,000||| |Comprehensive
income|for the year|||571,867|467,992|631,384|566,423| ## |1|ACCOUNTING
POLICIES|ACCOUNTING
POLICIES||||| |---|---|---|---|---|---|---| ||The|principal
accounting
policies
adopted,
judgements
and
key sources|of estimation
uncertainty||in|the| ||preparation
ofthe financial
statements
are as follows:|||||| |||Accounting
convention||||| |||The financial statements
have been prepared
under the Companies
Act 2006, the Charities Act 2011||||and| |||in accordance
with the Charities
Statement
ofRecommended
Practice|(Charities SORP|(FRS 102))||and| |||Financial
Reporting
Standard
102 (FRS 102). The accounts
are prepared
under
the
historical||||cost| |||convention
(as modified
by the revaluation
ofcertain fixed assets), except as noted
in 1.8 below.||||| |||The accounts
include
the
results
of the company's
subsidiary,
The|London
Baptist|Property|Board|| |||Limited.
The results have been consolidated
on a line by line basis.||||| |||The London Baptist Association
meets the definition
ofa public benefit|entity under FRS|102.The charity||| |||is a company
limited
by guarantee,
incorporated
in England
and Wales.||||| ||1.2|Unrestricted
funds||||| |||Unrestricted
funds comprise the General fund and Designated
funds,
Designated
funds represent monies||||| |||which
have been allocated
for specific purposes
by the Association.|All Unrestricted|fund
income
is||| |||accounted
for once the charity has entitlement
to the income,
it is probable
the income||will be received||| |||and the amount ofincome receivable can be reliably measured.
Unrestricted
fund expenditure
isaccrued||||| |||as soon as a liability is considered
probable,
discounted
to present value for longer term||liabilities.||| |||Restricted funds||||| |||These are funds subject to specific conditions as to,their use, which are binding
on the||Association.||All| |||Restricted
fund
income
is accounted
for at the time of receipt and|expenditure
accounted
for||when|| |||incurred.
Income not expended
in the year ofreceipt is carried forward|until
it is fully committed.|||| ||1.4|Endowment
funds||||| |||Endowment
funds represent
the permanent
capital ofcertain restricted|funds.|||| |||Properties||||| |||Freehold
and leasehold
properties,
whether
shown as tangible
fixed assets or investments,
have|||been|| |||included at fair value.
No depreciation
has been charged on those properties
held as tangible fixed assets||||| |||on the basis that the residual
value ofthe properties
is so high as to render depreciation||immaterial.||| |||Computers
and equipment||||| |||This is shown at cost and depreciated
over 3years.
Equipment
with a cost ofover E1,000 is capitalised.||||| |||Pension schemes||||| |||The company
contributes
to defined
benefit
pension
schemes.
The|assets of the schemes
are||held|| |||separately
from those ofthe company
and contributions
are accounted|for when due.|||| |||The company also makes contributions
towards the deficit on the Baptist|Pension Scheme|and the Baptist||| |||Unions Staff Pension Scheme, under their deficit reduction schemes. A|provision
has been made for|||the| |||total contributions
due. This is detailed
in Note 19.||||| ||1.8|Investments||||| |||Quoted
investments
are stated
at fair value.
An unquoted
investment|is stated
at a valuation
of|||the| |||Finance
Committee.
Unrealised
gains or losses
in the year are reported
in the statement
of financial||||| |||activities. Investments
in subsidiaries
are shown at cost.||||| |||Debtors||||| |||Trade debtors and other debtors are included
at the settlement
amount|due. Prepayments|are valued||at| |||the amount
prepaid.||||| ||1.10|Cash at bank and in hand||||| |||Cash at bank and in hand includes cash and short term highly
liquid investments
with a short maturity||||of| |||three months
or less from the date ofopening
ofthe deposit.||||| ## |1.11
Creditors
and provisions|1.11
Creditors
and provisions|1.11
Creditors
and provisions|1.11
Creditors
and provisions|1.11
Creditors
and provisions|||||||||||||||| |---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---| |Creditors and provisions|||are recognised||||||where the|charity has a present|||obligation
arising from||||||apast event| |that will probably|result||in|the|transfer||||offunds to a third party and|||the|amount|||due to||settle the obligation|| |can be measured|or estimated|||||reliably.|||Creditors and provisions
are|||recognised at their||||||settlement
amount.|| |1.12
Financial
instruments|||||||||||||||||||| |The charity only|has financial assets|||||||and liabilities ofa kind that qualify as||||||basic financial||||instruments.
Basic|| |financial
instruments||are||initially|||recognised
at transaction
value|||||and||subsequently||||measured
at their|| |settlement
value.|||||||||||||||||||| |1.13
Going concern|||||||||||||||||||| |The trustees
consider||that there|||||are|no material
uncertainties
about the||||||charity's
ability to continue as a|||||| |going concern.|||||||||||||||||||| |1.14
Income|||||||||||||||||||| |Income, including|grants,|||is recognised|||||when the charity has entitlement||||to||the|funds,|it|is probable that the|| |income
will be received|||and the|||amount|||can be measured
reliably.||||||||||| |The Coronavirus|Job Retention|||||Scheme grant is recognised
in the period|||||||to||which the underlying||||furloughed| |staff costs relate.|||||||||||||||||||| |1.15
Expenditure|||||||||||||||||||| |Expenditure
is recognised||||as soon as||||an outflow ofeconomic benefit||||is probable, settlement
will|||||||be required| |and the amount ofthe||obligation|||||can|be measured||reliably.
All expenditure|||||is accounted|||for on|an accruals| |basis.|||||||||||||||||||| |Grants and donations||are||accounted||||for when paid||over, or when|awarded,||||ifthat award creates a binding||||| |obligation
on the|charity.||||||||||||||||||| |TANGIBLE FIXEDASSETS —GROUP|||||||||||||||||||| |||||||||Freehold
Properties
f||Leasehold
Properties
f||Computers
and
Equipment
f||||||Total|| |Cost or valuation|||||||||||||||||||| |1 January 2020|||||||||3,907,025|1,820,242||||||56,949||5,784,216|| |Additions|||||||||||||||||||| |Disposals|||||||||||||||||||| |Revaluation
surplus|||||||||150,000||||||||||150,000| |31 December 2020|||||||||4,057,025|1,820,242||||||56,949||5,934,216|| |Depreciation|||||||||||||||||||| |1 January 2020|||||||||||||||31,065||||31,065| |Charge for the year||||||||||||||||9,241|||9,241| |Released on disposal|||||||||||||||||||| |31 December 2020|||||||||||||||40,306||||40,306| |Net BookValue|||||||||||||||||||| |31 December 2020|||||||||4,057,025|1,820,242||||||16,643||5,893,910|| |31 December 2019|||||||||3,907,025|1,820,242|||||25,884|||5,753,151|| |Historical cost for land|and buildings||||included||||at valuation:||||||||||| |31 December 2020|||||||||3,157,970|1,820,242||||||||4,978,212|| |31 December 2019|||||||||3,157,970|1,820,242||||||||4,978,212|| |The properties
were last valued|||by the directors||||||at 31st December 2020 on|||the|basis offair value. The||||||valuations| |were made on the basis ofinformation|||||provided||||by Rapleys and Cartwright||Hands,|||who||are professional|||surveyors.| ||||||||||||||||||||Page 21| ## ## |2b|TANGIBLE FIXEDASSETS —COM|PANY|PANY|||| |---|---|---|---|---|---|---| |||Freehold
Properties||Leasehold
Properties|Computers
and
Equipment
f|Total| ||Cost orvaluation|||||| ||1 January 2020||3,157,025|1,820,242|51,214|5,028,481| ||Additions|||||| ||Disposals|||||| ||Revaluation
surplus/(deficit)||100,000|||100,000| ||31 December 2020||3,257,025|1,820,242|51,214|5,128,481| ||Depreciation|||||| ||1 January 2020||||25,159|25,159| ||Charge for the year||||7,531|7,531| ||Released
on disposal|||||| ||31 December 2020||||32,690|32,690| ||Net Book Value|||||| ||31 December 2020||3,257,025|1,820,242|18,524|5,095,791| ||31 December 2019||3,157,025|1,820,242|26,055|5,003,322| ||Historical cost for land and buildings|included|at valuation:|||| ||31 December 2020||2,853,296|1,820,242||4,673,538| ||31 December 2019||2,853,296|1,820,242||4,673,538| |3a|INVESTMENTS —GROUP|||||| |||Listed
investments||Other
investments|Freehold
investment
properties
f|Total| ||Valuation|||||| ||1 January 2020||2,952,762|228,345|2,065,626|5,246,733| ||Additions||705,436||875,000|1,580,436| ||Disposals||(721,388)|||(721,388)| ||Revaluation
surplus/(deficit)||110,977|39,617|417,874|489,234| ||31 December 2020||3,047,787|188,728|3,358,500|6,595,015| ||Historical Cost|||||| ||31 December 2020||2,466,191|149,806|1,959,117|4,575,114| ||31 December 2019||2,433,657|149,806|1,084,117|3,667,580| ## |INVESTMENTS —COMPANY|INVESTMENTS —COMPANY||||| |---|---|---|---|---|---| |General Fund||Shares
in
LBPB|Listed
investments|Freehold
investment
properties|Total| |Market value or valuation|at 1 January 2020|1,379,330|284,690|600,856|2,264,876| |Additions|||66,383||66,383| |Disposais|||(69,542)||(69,542)| |Revaluation
surplus/(deficit)|||2,140|149,804|151,944| |Market value or valuation
31 December 2020|at|1,379,330|283,671|750,660|2,413,661| |Historical cost or probate value at|||||| |31 December 2020||1,379,330|251,494|572,630|2,203,454| |31 December 2019||1,379,330|261,445|572,630|2,213,405| |The company
holds 100%ofthe 'A' shares
in its|The company
holds 100%ofthe 'A' shares
in its|subsidiary,
The London Baptis|subsidiary,
The London Baptis|t Property
Board L|imited.| |---|---|---|---|---|---| |Restricted and Endowment
Funds||Listed
investments||Freehold
investment
properties|Total| |||||f.|| |Market value or valuation|at 1 January 2020||2,668,072|560,370|3,228,442| |Additions|||639,053||639,053| |Disposals|||(651,846)||(651,846)| |Revaluation
surplus/(deficit)|||108,837|176,220|285,057| |Market value or valuation|on 31 December 2020||2,764,116|736,590|3,500,706| |Historical cost or probate|value at 31 December|2020|2,214,697|128,370|2,343,067| |Historical cost or probate|value at 31 December|2019|2,172,212|128,370|2,300,582| |TOTAL||Shares in
LBPB|Listed
investments|Freehold
investment
properties|Total| |Market value or valuation|at 1 January 2020|1,379,330|2,952,762|1,161,226|5,493,318| |Additions|||705,436||705,436| |Disposals|||(721,388)||(721,388)| |Revaluation
surplus/(deficit)|||110,977|326,024|437,001| |Market value or valuation
31 December 2020|at|1,379,330|3,047,787|1,487,250|5,914,367| |Historical cost or probate value at|||||| |31 December 2020||1,379,330|2,466,191|701,000|4,546,521| |31 December 2019||1,379,330|2,433,657|701,000|4,513,988| ## ## |||||||||Restricted|Restricted|Restricted|Restricted||||||Restricted|Restricted|| |---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---| |||||||Designated||||and||||2020|Designated|||and|2019| |||||||Fund||Endowment||||||Total|Fund||Endowment||Total| ||||||||f||Fundsf||||||f|||Funds|f| |||Permanent||loans|||7,220|||433,568||||440,788|8,220|||418,298|426,518| |||Fixed loans|||||12,000||1,118,135||||1,130,135||12,000|||1,022,201|1,034,201| ||||||||19,220||1,551,703||||1,570,923||20,220|||1,440,499|1,460,719| |||Permanent|loans are repayable||||on closure,||withdrawal||||or sale ofthe||site and are|in|most|cases interest-free.
Fixed|| |||term loans|are|interest-free.||These loans are||||predominantly||||payable|after more than one|||year.|| |||The group|has|the following||capital commitments|||||at 31||December:||||||| ||||||||||||||||||2020||2019| ||||||||||||||||||f||f| |||Loan facilities||approved|but not yet taken||||up||||||||365,000||675,398| |5|a|DEBTORS|—GROUP||||||||||||||||| ||||||||||||||||||2020||2019| ||||||||||||||||||f||f| |||Advances|(financial assets measured|||||at amortised||||cost)|||||3,524,295||3,795,092| |||Prepayments||and sundry||debtors|||||||||||41,290||8,413| |||Accrued|income||||||||||||||||11,089| ||||||||||||||||||3,565,585||3,814,594| |5|b|DEBTORS|—COMPANY||||||||||||||||| ||||||||||||||||||2020||2019| ||||||||||||||||||f||f| |||Prepayments||and sundry||debtors||||||||||||475|8,413| |||||||||||||||||||475|8,413| |6|a|CREDITORS —GROUP|||||||||||||||||| |||Amounts|falling due within|||one year|||||||||||2020f||2019
f| |||7 day notice deposits and||||interest accrued||||||||||12,564,509|||14,360,470| |||Sundry creditors and accruals|||||||||||||||187,799||277,197| |||||||||||||||||12,752,308|||14,637,667| |6|b|CREDITORS —COMPANY|||||||||||||||||| |||||||||||||||||2020|||2019| |||Amounts|falling due within|||one|year||||||||||f||f| |||Sundry creditors and accruals|||||||||||||||174,101||277,197| ||||||||||||||||||174,101||277,197| |||||hl0
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Ql| ## |||||||||2020||2019| |---|---|---|---|---|---|---|---|---|---|---| |||||||||f||f| ||Income from church closures|||||||||245,712| ||Other church contributions|||||||115,452||129,975| |||||||||115,452||375,687| |10|GRANTS|||||||||| |||||2020||||2019||| |||No|Group
f|No|Company
f|No|Group
f||No|Company
f| ||Grants
in the period:|||||||||| ||Churches
re Buildings||||1,838|||||2,642| ||Churches
re support of|||||||||| ||ministry|||||||||| ||Other grants to churches
and organisations|25|180,068|25|180,068|20|195,692||20|195,692| ||Spurgeons
College|||||1|100,000||-|100,000| ||||180,068||181,906||295,692|||298,334| ||Individuals:||1,000||1,000|19|2,343||19|2,343| ||||181,068||182,906||298,035|||300,677| ||Material grants
included above:|||||||||| ||E1 Community
Church||||9,040|||||10,500| ||London Spanish
Speaking|Church|||10,238|||||11,375| ||Old Lodge Lane Baptist Church||||10,750|||||11,000| ||Hebe Foundation||||11,000|||||9,000| ||Kings Cross Baptist Church|(Breathe)|||11,000|||||11,000| ||Mill Hill East Baptist Church||||11,000|||||8,000| ||Bonny Downs Baptist Church||||11,375|||||11,375| ||Hersham
Baptist Church||||11,375|||||11,375| ||Third Space Ministries||||11,375|||||11,375| ||London Network
Church||||11,725|||||3,908| ||The Kings Cross Baptist Church||||12,500|||||15,000| ||London Arabic||||1KQQQ|||||1RQQQ| ## |SUPPORT TO CHURCHES|SUPPORT TO CHURCHES||||| |---|---|---|---|---|---| |||2020||2019|| |||Group|Company|Group|Company| ||||f.||| |Employment
costs:|||||| |Salaries||271,245|238,430|253,415|209,451| |National
Insurance —employers||19,551|17,135|19,045|16,080| |Pension
contributions|—employers|26,646|23,364|27,566|20,032| |Defined benefit scheme movement||50,894|50,894|6,599|6,599| |||266,548|228,035|306,625|252,162| |Printing
and stationery||1,865|1,865|3,207|3,207| |Postage and telephone||11,557|10,081|9,367|8,298| |Premises costs||67,342|76,683|95,326|77,841| |Professional fees||70,091|39,779|62,496|36,525| |Committee
and conference expenses||6,739|6,661|16,152|16,152| |Computer
and office equipment||20,134|13,874|16,988|10,067| |Travel expenses||11,534|11,519|13,130|13,130| |Subscriptions
and donations
(note 12)||5,630|5,630|7,434|7,434| |Bank charges||922|220|902|175| |Depreciation||9,241|7,531|9,136|7,720| |Loan interest||38,797||131,035|26,417| |Contributions
to BUGB|Home Mission|111,460|111,460|128,877|128,877| |Grants (note 10)||181,068|182,906|298,035|300,677| |Closed Church Pension|Debts|77,354|77,354||| |Sundry expenses||12,844|9,064|18,268|12,525| |Governance
costs —auditors|||||| |remuneration||12,180|6,780|12,000|6,720| |||905,306|789,442|1,128,978|907,927| ## ||2020||2019|| |---|---|---|---|---| |Baptist Union ofGreat Britain||1,645||1,642| |Evangelical
Alliance||250||500| |London
Church Leaders' Secretary||1,000||2,900| |Churches
together
in South London||2,735||2,392| |Churches
together
in Essex and East London||||| |||5,630||7,434| ## ## |||2020||2019|| |---|---|---|---|---|---| |||Group|Company|Group|Company| |Rent from investment|properties|53,567|41,199|58,995|29,511| |Dividends||81,555|72,342|89,701|78,499| |Interest on short term|deposits|84,340|3,886|108,462|9,704| |||219,462|117,427|257,158|117,714| ## ## ## |2020|||Investment
Properties|**I**
t
nvestments
f|**I**
t
nvestments
f|Freehold
Properties|Total
f| |---|---|---|---|---|---|---|---| |GROUP|||||||| |Balance at|1 January 2020||981,509||597,644|749,056|2,328,209| |Unrealised|gains on revaluations|in the|||||| |period|||417,874||71,359|150,000|639,233| |Realised gains on disposals|||||48,485||48,485| |Balance at|31 December 2020||1,399,383||620,518|899,056|2,918,957| ||||Investment
Properties|Investments||Freehold
Properties|Total| |2020|||||||| |COMPANY|||||||| |Balance at|1 January 2020||460,226||519,105|303,730|1,283,061| |Unrealised|gains on revaluations|in the|||||| |period|||326,024||110,976|100,000|537,000| |Realised losses on disposals|||||48,485||48,485| |Balance at|31 December 2020||786,250||581,596|403,730|1,771,576| ## ## |2019||||||Investment
Properties
f|Investment
Properties
f|**I**
t
nvestments
f|**I**
t
nvestments
f|F
hold
Properties
f|F
hold
Properties
f|Total| |---|---|---|---|---|---|---|---|---|---|---|---|---| |GROUP||||||||||||| |Balance at|1|January 2019||||1,688,519|||280,163||960,139|2,928,821| |Unrealised
period|gains on revaluations|||in|the||||349,505|||349,505| |Realised gains on disposals||||||(707,010)|||(32,024)||(211,083)|(950,117)| |Balance at|31 December 2019||||||981,509||597,644||749,056|2,328,209| |2019||||||Investment
Properties
f||**I**
nvestments
f||Freehold
Properties
f||Total
f| |COMPANY||||||||||||| |Balance at|1|January 2019||||613,726|||234,164||514,813|1,362,703| |Unrealised
penod|gains on||revaluations|in|the||||316,964|||316,964| |Realised losses on disposals||||||(153,500)|||(32,023)||(211,083)|(396,606)| |Balance at|31 December 2019|||||460,226|||519,105||303,730|1,283,061| |NALYSIS OF||NET ASSETS BETWEEN||||FUNDS —GROUP||||||| |2020|||Tangible
flixed
assets||Investments||Loans to
churches||Net
current
assets|Long Term
Liabilities||Total| ||||f||||||f|||f| |Endowment||Funds|||||||3,087|||3,087| |Restricted|Funds|||||||||||| |(per note 8)||||||3,500,706|1,551,703||544,376|||5,596,785| |Unrestricted||||||||||||| |Funds||||||||||||| |Designated|Funds||600,000||||19,220||106,719|||725,939| |General
Fund|||5,293,910|||3,094,309|||1,194,128||107,377|9,474,970| ||||5,893,910|||6,595,015|1,570,923||1,848,310||(107,377)|15,800,781| |2019|||Tangible
fixed
assets||Investments||Loans to
churches||Net
current
assets|Long Term
Liabilities||Total| ||||f||||||f|||f| |Endowment||Funds|||||||3,087|||3,087| |Restricted|Funds|||||||||||| |(per note 8)||||||3,228,442|1,440,499||707,434|||5,376,375| |Unrestricted||||||||||||| |Funds||||||||||||| |Designated|Funds||500,000||||20,220||89,384|||609,604| |General
Fund|||5,253,151|||2,018,291|||2,140,263||(171857)|9,239,848| ||||5,753,151|||5,246,733|1,460,719||2,940 168||(171,857)|15228,914| ## ## ## ## ## ## ## ## ## |Type offinancial|assumption|'/e pa| |---|---|---| |RPI price inflation|assumption|3.20| |CPI price inflation|assumption|2.70| |Minimum
Pensionable
Income increases
(RPI)||3.20| |Assumed
investment
returns||| |- Pre-retirement||2.95| |- Post retirement||1.70| |Deferred pension|increases|| |- Pre April 2009||3.20| |- Post April 2009||2.50| |Pension increases||| |- Main Scheme pension||2.70| ## ## ## ## |||||2020|2019| |---|---|---|---|---|---| |||||E|| |Income||||258,674|321,381| |Expenditure||||(257,033)|(323,811)| |Net income/(expenditure)||before revaluations||1,641|(2,430)| |Gains/(losses)
and investment|on revaluations
assets||and disposals offixed|102,233|72,181| |Net movement|in funds|||103,874|69,751|