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2022-12-31-accounts

Contents
Page
Trustees'
report
Objectives
and activities
Achievements
and performance
Financial
review,
investment
performance		 and
principal
financial
management
policies
Reference
and administrative
information
Structure,
Governance
and Management
Statement
of trustees'
responsibilities
Independent
examiner's
report
Statement
of financial
activities
Balance Sheet
Notes to financial
statements

Page 13
Statement
offinancial		 activities
Forthe year ended 31December 2022
Notes Unrestricted Restricted Endowment Total Tota
I
Funds Funds Funds 2022 2021
E
INCOME FROM:
Donations 2 340,898 3,400 344,298 233,221
Investments 3 21,103 179 21,282 19,022
Charitable
activities		 4 75,949 75,949 81,741
Total Income 437,950 3,579 441529 333984
EXPENDITURE ON:
Charitable
activities		 5 520,305 6,516 526,821 457,331
Total Expenditure 520,305 6,516 526,821 457,331
Investment
gains/(losses)		 12 (67 705) (67 705) 66 296
Net income/expenditure (82,355) (2,937) (67,705) (152,997) (57,051)
1ransfers
between		 funds 17 234,800 (234,800)
Pension
liability movements		 17 62,715 62,715 (2,400)
Net Movement
in		 Funds 215,160 (2,937) (302,505) (90,282) (59,451)
Reconciliation
ofFunds
Total funds brought forward 1January 2022 17 1,129,728 31,855 974,693 2,136,276 2,195,727
Total Funds at 31December 2022 17 1,344,888 28,918 672,188 2,045,994 2,136,276

Total Tota
I
2022 2021
E
Total Income 441,529 333,984
Total Expenditure (526,821) (457,331)
Pension
liability movements		 62,715 (2,400)
Transfers (to)/from endowment funds 60,000
Net income/(expenditure) for the year

West of England Ba ptist Association ~
I		 Afebn et
Page 15
Balance Sheet
As at 31December 2022
Total Total
2022 2021
Fixed assets Note
Tangible assets 11a 487,S82 488,354
Investments 12 592,685 820,632
Programme-related investments 13 941,963 775,794
2,022,530 2,084,780
Current assets
Debtors 14 1,000 1,000
Cash at bank and in hand 15 55,656 139,733
56,656 140,733
Creditors: amounts falling due within one year 16 (33,192) (39,332)
Net current assets 23,464 101,401
Total assets less current liabilities 2,045,994 2,186,181
Creditors: amounts falling due after one year
Pension deficit liability (49,905)
Net Assets
The funds ofthe charity:
Unrestricted
funds:
General 18 51,014 52,731
Designated 18 1,293,874 1,076,997
1,344,888 1,129,728
Restricted 18 28,918 31,855
Endowment 18 672,188 974,693
Total funds

Tota I Tota
I
Unrestricted Restricted Endowment 2022 2021
E E E E E
Home Mission
Donations
Partnership
for
Other grants
WeBox Appeal		 Funding
Mission		 232,492
30,709
14,006
56,250
7,441		 232,492
30,709
14,006
56,250
7,441		 178,233
3,300
16,173
25,051
10,464
Willow Garden - Portishead 3,400 3,400
340,898 3,400 344,298 233,221

Income from Investments
Total Total
Unrestricted Restricted Endowment 2022 2021
6 E E E E
Income from investments
Bank and other interest		 19,057
2,046		 179 19,236
2,046		 19,009
13
21,103 179 21,282 19,022

Income from charitabl e
act		 iviti es
Total Total
Unrestricted Restricted Endowment 2022 2021
E E E
Church income re Regional Ministers 6,884 6,884 21,721
Management charges - Payroll and Trust 16,200 16,200 16,200
Companies
Programme related investment income 28,480 28,480 22,755
Delegate fees
Ministers conference		 2,663
853		 2,663
853		 1,473
Committees &conferences 20,869 20,869 19,592
75,949 75,949 81,741

Expenditure
on Charitable		 ac tivities
Tota I Tota
I
Unrestricted Restricted Endowment 2022 2021
f
Assemblies,
Conferences
& Events
Employees (see note 7)
Home Mission and other grants (see note 6)
Hospitality
Management
8 administration
Depreciation
Property costs
Subscriptions
Weaox		 24,800
311,166
122,991
3,581
16,002
472
27,780
1,017
7,281		 2,793 24,800
311,166
125,784
3,581
16,002
472
27,780
1,017
7,281		 9,824
281,757
113,663
193
11,803
1,226
17,850
661
11,468
Seventy-two
Independent
examination
Legal & professionalfees
Trustees expenses(included		 in note 7) 3,552
1,520
143		 3,723 3,723
3,552
1,520
143		 5,856
2,916
61
53
520,305 6,516 526,821 457,331

6 Analysis of g rants
Total Tota
I
2022 2021
(restated)
E
Home Mission Grants:
Bristol University
Brunswick		 Chaplaincy 4,116
2,640		 4,116
5,958
Cheddar 1,500
City Road
Jacob's Well		 9,140
1,500		 14,837
1,500
Know(a West 14,604 14,604
Leckhampton 3,254
Little Stake 7,296
Locking Castle 6,996
Melksham 14,004 14,004
Nailsworth 4,000 1,667
Open House 7,300
Sheep Street 8,004 4,000
The Stowe 6,000 6,000
Victoria Park 2,915
Welton
Worle		 6,996 6,996
12,621
Funding for Pioneering Work:
Bussage 7,300 7,300
Portishead
Other Grants:		 7,300 7,300
English Churches Together
Grant from Tilshead
Fund
Pastoral Support		 1,126
1,000		 1,542
2,320
Renew Weilbeing 7,500
Willow Garden - Portishead 2,793 120
Contribution to schools chaplaincy 7,278
125,784 113,663
Total Total
2022 2021
E E
Sources ofFunding:
From Baptist Home Mission support 114,865 104,223
From other churches to support specific work 7,000 7,000
From Tilshead fund 1,126 2,320
From income restricted to Willow Garden - Portis head 2,793 120
125,784 113,663

Page 21
7 Staff costs and Trustee expenses
2022 2021
E E
RegionalMinisters'
remuneration:-
Revd. Nigel Coles - Trustee 37,840 37,715
Social Security costs (trustees) 3,130 3,268
Trustee Pension costs (see note below) 7,746 9,581
1otal Trustees'
remuneration		 48,716 50,564
Staff Salaries 166,843 167,409
Social Security costs (staff) 10,846 11,222
Other Staff Pension costs (see note below) 21,050 3,011
Housing costs 26,912 25,538
Training
- courses, conferences,		 assemblies 9,443 2,252
Council tax, water, telephone 12,230 11,173
Expenses and other costs 15,126 10,588
Pension Costs to SOFA Pension Costs to SOFA 2022 2021
Regional
Ministers'		 pension contributions:- E E
Revd. Nigel Coles - Trustee Baptist Pension Scheme 7,746 9,581
5~aft Baptist Pension Scheme 22,035 22,067
Pension deficit movement Baptist Pension Scheme (985) (19,056)
Staff numbers
and		 key management personnel
2022 2021
The average
number		 offull-time equivalent employees (including part-time staff)
during the year as follows:
Regional
Ministers		 3.9 3.9
Office Administrative Manager &Trust Officer 0.9 1.0
Finance 0.3 0.4
Other Administration,
Support		 &Outreach 1.4 1.5
6.5 6.8
The actual number ofstaff during the year was 8 5(2021- 7)

Type offinancial assumption assumption %pa
RPI price inflation assumption 3.20
CPI price inflation assumption 2.70
Minimum
Pensionable		 Income increases
(above CPI) 0.50
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

Movement
in Balance sheet liability
Section 28.11A of FRS102 requires agreed deficit recovery payments to be recognised as a liability. The movement in the
provision
is set out in the table below:
Accounting
date (year ending):		 31/12/2022 31/12/2021
Balance sheet liability at year start 63,700 80,356
Minus deficiency contributions
paid		 (2,237) (19,056)
Interest cost (recognised
in SoFA)		 1,252 972
Actuarial
(gains)/losses
on re-measurement		 of liability (recognised in SoFA) (62,715)
Remaining
change to balance sheet		 liability* (recognised in SoFA) 1,428
Balance sheet liability at year end 63,700
Accounting
date		 31/12/ZBZZ 31/12/2021 31/12/2020
(Restated) (Restated)
Discount rate 5.7034 2.00% 1.4036
Future increases to Minimum Pensionable Income 3.30M 3.209o 2.70N
2022 2021
Total pension payments in the year 6 6
8PS 28,796 12,592
Deficit contributions 2,237 19,056
31033 31648

Unrestricted Unrestricted Restricted Endowment Total
2021
E
INCOME FROM:
Donations 233,221 233,221
Investments 18,972 50 19,022
Charitable
activities		 81,741 81,741
Total Income 333,934 50 333,984
EXPENDITURE ON:
Charitable
activities		 451,475 5,856 457,331
Total Expenditure 451,475 5,856 457,331
Investment
gains/(losses)		 66,296 66,296
Net Income/(expenditure) (117,541) (5,806) 66,296 (57,051)
Transfer between
funds		 60,000 (60,000)
Pension
liability movements		 (2,400) (2,400)
Net Movement
in Funds		 (59,941) (5,806) 6,296 (59,451)
Reconciliation
of Funds
Total funds brought
forward 1January 2021
Total Funds at 31December 2021		 1,189,669
1,129,728		 37,661
31,855		 968,397
974,693		 2,195,727
2,136,276
10 Net income for the year
2022 2021
This is stated after charging: E E
Independent
Examiner's		 fees:
Accounts preparation 1,880 1,800
Independent
examination		 - current year 1,552 1,200
Depreciation -under/(over) provided in prior year 120
472		 (84)
1,226

The movement
in the		 year w as as follows :-
Freehold Office
Property Equipment Total
Cost E E E
Beginning ofthe year 488,631 19,300 507,931
488,631 19,300 507,931
Depreciation
Beginning ofyear 1,221 18,356 19,577
Charge for the period 472 472
End ofyear 1,221 18,828 20,049
Net book value
31December 2022 487,410 472 487,882
31December 2021 487,410 944 488,354
b) Association
Property		 2022 2021
E E
Land at Emersons Green 176,490 176,490
Manse at 3The Hawthorns, Bussage, 300,270 300,270
Stockwood Church 10,650 10,650
12 Investments
2022 2021
E E
Market value at beginning ofyear 820,632 738,312
Acquisitions
at cost		 598,531 79,050
Sale proceeds from disposals (554,021) (66,628)
Gains
in the period
—Realised gains 19,745 2,546
—Net unrealised
gains		 (128,049) 63,751
Increase/(decrease) in cash balances (164,153) 3,601
Market value as at 31December 592 685 820 632
Investments
at market value		 comprise:- 2022 2021
E 6
UK equities 132,845 196,813
UK fixed interest securities 97,416 102,645
UK other investments 90,385 172,420
Overseas equities 267,461 344,639
Cash balances
-WEBTC		 (7,304) (12,062)
Cash balances
- Charles Stanley/Brewin		 Dolphin 11,880 16,176
Wholly Owned Trading Subsidiary 1 1

est of England
Bap		 tist Association ~~I w el n eI:
Page 26
13 Programme-related investments
Support
Loans Properties Total
E E E
Balance at 1January 2022 116,896 658,898 775,794
Transfer of property value to Emersons Green BC (3,254) (3,254)
Additions 230,252 230,252
Loan repayments (60,829) (60,829)
Balance at 31December 2022 286,319 655,644 941,963
14 Debtors 2022 2021
E E
Prepayments 1,000 1,000
15 Cash atbankandinhand 2022 2021
E E
HSBC Bank 10,961 10,361
CAF Cash/Gold 30,350 115,035
COIF Charity Fund 14,514 14,336
Petty cash (169) 1
16 Creditors 2022 2021
Amounts
falling due within one year		 E E
Other Creditors 4,028
Accruals and deferred income 29,164 25,537
Pension deficit liability 13,795

Page 27
17 Statement of Funds
Current Year
Other At 31
At 1January Movements December
2022 Income Expenditure &Transfers 2022
6
Unrestricted
General
fund		 52,731 421,707 (517,927) 94,503 51,014
Designated
Fixed assets 301,414 (672) 300,742
Programme-related investments 775,794 166,169 941,963
Painswick 14,943 14,943
Partnership
for Mission		 40,028 14,006 (25,200) 28,834
Tilshead
Fund		 8,518 (1,126) 7,392
Pension deficit fund (63,700) 2,237 (1,252) 62,715
Total unrestricted funds 1,129,728 437,950 (520,305) 297,515 1,344,888
Restricted
Seventy-two 4,393 (3,723) 670
Willow Garden 3,400 (2,793) 607
Leighterton
Ik Culkerton		 16,812 179 16,991
Stockwood
Church		 10,650 10,650
Total restricted funds 31,855 3,579 (6,516) 28,918
Expendable
endowment
Income fund 798,403 (302,705) 495,698
798,403 (302,705) 495,698
Permanent
endowment
Avening
Fund		 176,290 200 176,490
Total Endowment 176,290 200 176,490
Total Endowment 974,693 (302,505) 672,188
TOTALFUNDS 2,136,276 441,529 (526,821) (4,990) 2,045,994

of England
Bap		 tist Association we net
Page 28
Statement
of Funds		 (continued)
Other At 31
Prior Year At 1January Movements December
2021 Income Expenditure &Transfers 2021
E
Unrestricted
General fund 53,456 317,761 (435,151) 116,665 52,731
Designated
Fixed assets 302,640 (1,226) 301,414
Programme-related investments 795,569 (19,775) 775,794
Painswick 14,943 14,943
Partnership
for Mission		 89,859 16,173 (14,004) (52,000) 40,028
Tilshead
Fund		 13,558 (2,320) (2,720) 8,518
Pension deficit fund (80,356) 16656 (63,700 )
Total unrestricted
Restricted
Seventy-two 10,249 (5,856) 4,393
Leighterton
& Culkerton		 16,762 50 16,812
Stockwood Church 10,650 10,650
Total restricted 37,661 50 (5,856) 31,855
Expendable
endowment
income fund 792,107 6,296 798,403
792,107 6,296 798,403
Permanent
endowment
Avening
Fund		 176,290 176,290
Total Endowment 176,290 176,290
Total Endowment 968,397 6,296 974,693
TOTALFUNDS 2,195,727 333,984 457,331 63,896 2,136,276

Current Year
Unrestricted Restricted Endowment Tota I 2022
F. E
Tangible
Fixed assets		 300,742 10,650 176,490 487,882
Programme-related investments 941,963 941,963
Investments 693 3,985 588,007 592,685
Net current assets 101,490 14,283 92,309 23,464

Unrestricted:
analyse		 d
between
funds
General Designated Total
E
Tangible
Fixed assets		 300,742 300,742
Programme-related investments 941,963 941,963
Investments 693 693
Net current assets 51,014 50,476 101,490
51,014 1,293,874 1,344,888
Prior Year
Unrestricted Restricted Endowment Tota I 2021
6 f E E
Tangible
Fixed assets		 301,414 10,650 176,290 488,354
Programme-related investments 775,794 775,794
Investments (4,065) 3,985 I 820,712 820,632
Net current assets 106,490 17,220 (22,309) 101,401
Creditors
of more than one year		 (49,905) (49,905)
1,129,728 31,855
Unrestricted:
analyse		 d
between
funds
General Designated Total
E E
Tangible
Fixed assets		 301,414 301,414
Programme-related investments 775,794 775,794
Investments (4,065) (4,065)
Net current assets 52,731 53,759 106,490
Creditors of more than one year (49,905) (49,905)
52,731 1,076,997 1,129,728