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2020-12-31-accounts

Reference and Administrative
Details
Trustees'
Report		 4 —6
Independent
Examiner's
Report
Statement of Financial Activities
Balance Sheet
Statement ofCash Flow 10
Notes to the Financial Statements 11-27
South Eastern Baptist Association Baptist Association Baptist Association
Reference and Administrative Details
Charity Name: South Eastern
Baptist Association
Company Registration Number: 04292136
Charity Registration Number: 1093252
Registered Office: 17Cherry Close
Burgess
Hill
West Sussex
RH15 9PR
Trustees: Mr M F Browning
Revd 5W Davison
Revd M J Fanstone
Revd J E Hardwick
Revd P J Kerley
Revd J E Mardell
Mr G FSigfnd
Revd P LAmos —resigned 24 May 2021
Revd PJ Butchers —resigned 24 May 2021
Pastor SCollingwood —resigned 24 May 2021
Revd J EJohnstone —appointed 1 January 2020 and resigned 24 May 2021
Revd GT P McBain-appointed 1 January 2020 and resigned 24 May 2021
Revd J G Newson —resigned 30 April 2020
Revd R CStevens —resigned 24 May 2021
Senior Management Team: Mr M F Browning, Treasurer
Revd 5W Davison, Team Leader 5.Regional Minister
Revd M J Fanstone, Moderator
Mr DSheldon, Company Secretary
Bankers: Reliance
Bank Ltd
Faith House
23-24 Lovat Lane
London
EC3R BEB
Independent Examiner Azets Audit Services
Chartered
Accountants
2"v Floor, Regis House
45 King William Street
London
EC4R 9AN

Unrestricted Restricted Total Total
Note Funds
f		 Funds
f		 2020f 2019
f
Income and endowments from:
Donations and legacies 2 225,313 94,906 320,219 31.5,249
Other trading
activities		 3 12,066 12,066 10,459
Investment
income		 4 32,701 14,105 46,806 36,025
Otherincome 5 283,597 283,597 28,432
Total income 553,677 109,011 662,688 390,165
Expenditure
on:
Charitable
activities		 6 288,489 153,200 442,049 430,459
Total expenditure 288,849 153,200 442,049 430,459
Net income/(expenditure) before
investment
gains/(losses)		 264,828 (44,189) 220,639 (40,294)
Fair value gains/(losses) on 13 46,394 46,394
investment
property
Net gains/(losses)
on investments		 14 6,930 6,930 20,308
Net income/(expenditure} before
transfers 318,152 (44,189) 273,963 (19,986)
Transfers between funds (86,201) 86,201
Net income/(expenditure) before
other recognised gains/(losses) 231,951 42,012 273,963 (19,986)
Other recognised
gains/(losses)		 19 37,357 37,357 (5,682)
Net movements
in funds		 269,308 42,012 311,320 (25,668)
Reconciliation offunds:
Total funds brought forward 20 1,056,155 193,828 1,249,983 1,275,651
Total funds carried forward 20 1,325,463 235,840 1,561,303 1,249,983

(Registration number: 4292136)
2020 2019
Note 6 6
Fixed Assets
Tangible assets 12 232,381 720,229
Investment
property
Investments		 13
14		 529,500
154,974		 148,045
916,855 868,274
Current Assets
Debtors 15 305,250 360,395
Cash at bank and
in		 hand 565,012 282,451
870,262 642,846
Creditors: Amounts falling due within one year 16 (52,923) (39,605)
Net Current Assets 817,339 603,241
Total Current Assets less current liabilities 1,734,194 1,471,515
Creditors: Amounts falling due after more than one year 17 (98,195) (101,980)
Provisions for liabilities: Defined benefit pension scheme liability 18 (74,696) (119,552)
Net assets 1,561,303 1,249,983
Funds ofthe charity:
Restricted funds		 20 235,840 193,828
Unrestricted
funds		 20 1,325,463 1,056,155
Totalfunds 1,561,303 1,249,983

2020 2019
Note 6 f
Cash flows from operating activities
Net cash from operating activities 22 235,755 (70,054)
235,755 (70,054)
Cash flows from investing activities:
Dividends,
interest and rents from investments		 46,806 36,025
Net cash from investing
activities		 46,806 (36,025)
Change In cash and cash
Cash and cash equivalents		 equivalents
brought		 in the year
forward		 282,561
282,451		 (34,029)
316,480
Cash and cash equivalents carried forward 23 565,012 282,451

4.
INYESTM		 ENT INCOME
Unrestricted Funds Restricted Total Total
Designated
f		 General
f		 Funds
f		 2020
f		 2019
f
Dividend
income		 10,681 10,681 2,331
Interestincome 74
Rental income 22,020 14,105 36,125 33,620
32,701 14,105 46,806 36,025
Tota I2019 24,200 11,825 36,025
5.
OTHER INCOME
llnrestricted Funds Restricted Total Total
Designated
f		 General
f		 Fundsf 2020
f		 2019
f
Otherincome 17,286 17,286 4,670
Conference and training fees 22,659 22,659 23,762
Closure ofchurches 243,652 243,652
283,597 283,597 28,432
Total 2019 28,432 28,432

.
EXPENDITURE ON CHARITABLE		 ACTIVITIES
Unrestricted Funds Restricted Total Total
Designated
f		 General
f		 Fundsf 2020
f		 2019
f
Wages and salaries (note 11)
Staff Employers
NIC (note 11)
Staff pensions (note 11)
Rent
Council tax and water rates
Property maintenance
Small equipment
Student grants
Training and conferences
Travelling
I-lousing allowance
Insurance		 114,281
4,257
10,994
6,388
3,237
450
24,929
4,922
9,000
1,219		 54,000
4,131
6,806
18,177
6,459
36,328
5,077
78
236
8,750		 168,281
8,388
17,800
18,177
12,847
39,565
5,077
450
25,007
5,158
17,750
1,219		 156,008
8,167
17,977
8,548
11,932
750
1,041
1,000
46,291
24,452
20,800
Telephone
Sundry expenses
Ministry grant paid
Electricity
Professional
and legal fees
Association
celebration		 68,436
559		 618
3,020
2,010
6,112		 618
3,020
68,436
2,010
6,112
559		 599
2,019
87,922
Printing,
postage and stationery
Accountancy
fees
Catering costs
Depreciation
Support costs (note 7)		 10,050
4,742
25,385		 603
525
270		 603
10,050
525
4,742
25,655		 380
5,806
1,644
35,123
288,849 153,200 442,049 430,459
Tots I2019 359,403 71,056 430,459

7,
ANALYSIS OF SUPPO		 RT COST S
Unrestricted Funds Restricted Total Total
Designated
f		 General
f		 Funds
f		 2020f 2019
f
Employment
costs
Rental property costs
Insurance		 6,849
1,396		 6,849
1,396		 3,902
9,899
315
Equipment 1,988 1,988 1,284
Telephone 3,356 3,356 5,207
I'rinting,
postage and stationery
Trade subscriptions		 1,588
2,517		 270 1,588
2,787		 3,367
2,451
Sundry expenses 3,486 3,486 3,575
Travel 1,132 1,132 638
Board costs 50 50 369
Interest payable (note 8) 3,023 3,023 4,116
25,385 270 25,655 35,123
Total 2019 35,002 121 35,123
8.
INTEREST PAYABLE
Total Total
2020f 2019
f
Otherloans 1,952 1,208
Interest on net defined benefit pension liability (note 19) 1,071 2,908
3,023 4,116
9.
NET INCOME/(EXPENDITURE)		 FOR THE YEAR
Total Total
This is stated after charging: 2020
f		 2019
f
Independent
examination		 fee 3,960 3,500

and other benefits (including
employers
pension co		 ntributions)
paid in the year are set out below:
2020 2019
f E
Revd
Revd		 P J Kerley
5 Davison		 35,073
41,016		 34,269
40,072
Mrs
Revd		 P Kerley
J Newson		 10,722
5,649		 7,709
16,338

Staff costs were as follows:
2020 2019
E E
Wages and salaries
Social security costs
Pension Costs		 168,281
8,388
17,800		 156,008
8,167
17,977
194,469 182,152
The
the		 monthly
average
number
of persons
(including
seni
year (per headcount)
were as follows:		 or management
team) employed
by the c		 harity
durin
2019 2019
No No
Full Time Staff 4 5
Part Time Staff 5 5
10

12. TANGIBLE FIXEDAS SETS
Land and Furniture and
Buildings
f		 Equipment
E		 Total
f
Cost
At 1January 2020 720,229 4,919 725,148
Transfer to investment property (483,106) (483,106)
At 31December 2020 237,123 4,919 242,042
Depreciation
At 1January 2020 4,919 4,919
Depreciation
charge		 4,742 4,742
At31December 2020 4,742 4,919 9,661
Carrying amount
At 31December 2019 232,381 232,381
At 31December 2020 720,229 720,229
13. INVESTMENT PROPERTY
Totalf
Fair value
At 1January 2020
Transfer from tangible fixed assets 483,106
Revaluations 46,394
At 31December 2020 529,500

4. FIXEDASSET INVESTMENTS
Listed Unlisted
Investments Investments
f		 Totalf
Market Value
At 1January 2020 136,031 12,015 148,046
Revaluations 6,928 6,928
At31December 2020 142,959 12,015 154,974

Type ofassumption Type ofassumption %p.a.
RPI price inflation
assumption		 3.20
CPI price inflation
assumption		 2.70
Minimum Pensionable
Income increases		 3.20
Assumed investment
returns
~ Pre-retirement 2.95
~ Post-retirement 1.70
Deferred pension increases
~ Pre-April 2009 3.20
v Post-April 2009 2.50
Pension increases
~ Main Scheme pension 2.70

the provision
isset out in the ta		 ble below.
2020f 2019
f
Balance brought forward 119,552 123,291
Contributions
paid
in the year
Net interest expense		 (9,451)
1,952		 (12,329)
2,908
Loss/(gain)
on change offunding		 plan' (37,357) 5,682
Balance carried forward 74,696 119,552
alued
using the following assumptio		 ns
set by re		 ference toth e duration
ofthe def		 icit recovery paym ents:
31December 31December 31December
2020 2019 2018
Discount rate 0.4% 1.7% 2A%
Future increases to MPI (Minimum Pensionable Income) 3.0% 3.2% 3.3%

Balance at Transfers Balance at
1January Incoming Resources gr Gains/ 30December
2020
E		 Resources
E		 Expended
E		 (losses) 2020f
Unrestricted
funds
General funds
Revaluation
reserve		 46,394 46,394
Unrestricted
income fund		 195,592 479,580 (220,413) (41,814) 412,845
195,592 479,580 (220,413) 4,480 459,239
Home Mission grant for missions 68,436 (68,436)
Building
loan fund		 509,563 5,661 515,224
Capital reserve 250,883 250,883
Investment
reserve		 7,065 7,065
Zion fund 75,000 75,000
The Evangelism
fund		 14,765 14,765
Le Ferve 3,287 3,287
860,S63 74,097 (68,436) 866,224
Total unrestricted fund 1,056,155 553,677 (288,849) 4,480 1,325,463
Restricted funds
Cavendish
fund		 88,193 88,193
Brasted fund 74,205 74,205
Church ofthe year fund 500 10,200 10,700
Fresh Expressions 161 161
Kent Union fund 2,108 2,108
Kent Thameside
Church		 Planting Project 63,156 (44,339) 18,817
Eliington
Baptist Church		 Fund 10,325 (10,325)
Baptist Grant 6,931 6,931
Northf lect Project 9,088 (20,632) 11,544
KTCP Bus Project 11,405 11,405
Bread of Life Project 26,567 (77,904) 74,657 23,320
Total restricted fund 193,828 109,011 (153,200) 86,201 235,840
Total funds 1,249,983 662,688 (442,049) 90,681 1,561,303

Balance at Transfers Balance at
1January Incoming Resources gr Gains/ 31December
2019
f		 Resources
f		 Expended (losses)
f		 2019
f
Unrestricted
funds
General funds
Unrestricted
income fund		 (38,340) 438,527 (271,063) 90,572 219,696
Designated
funds
Building loan fund		 500,461 88,625
4,462		 (88,625) 504,923
Capitalreserve 250,883 250,883
Investment
reserve		 7,065 7,065
Zion fund 75,000 75,000
The Evangelism
fund		 14,765 14,765
Le Ferve 3,287 3,287
851,461 93,087 (88,625) 855,923
Total unrestricted fund 813,121 531,614 (359,688) 90,572 1,075,619
Restricted funds
Cavendish
fund		 88,193 88,193
Brasted fund 74,205 74,205
Church ofthe year fund 100 400 (400) 100
Fresh Expressions 275 275
Kent Union fund 2,108 2,108
Kent Thameside
Church		 Planting Project (27,253) 60,978 (53,412) 20,250 563
Pension fund 50,000 (50,000)
Ellington
Baptist Church		 Fund 16,252 16,252
Baptist Grant 35,181 (28,250) 6,931
Northf lect Project (11,197) 11,234 (18,775) 18,738
KTCP Bus Project 11,405 11,405
Total restricted
fund		 239,269 72,612 (122,587) 10,738 200,032
Total funds 1,052,390 604,226 (482,275) 101,310 1,275,651

Unrestricted Restricted Total
Funds Funds Funds
2020
f		 2020
f		 2020f
Tangible fixed assets
investment
Property
Fixed asset investments		 232,381
529,500
154,974		 232,381
529,500
154,974
Current assets 634,422 235,840 870,262
Creditors due within one year
Creditors due in more than one year		 (52,923)
(98,195)		 (52,923)
(98,195)
Provisions for liabilities and charges (74,696) (74,696)
1,325,463 235,840 1,561303
NALYSIS OF NET ASSETS BE)WEEN FUNDS —PRIOR YEAR
Unrestricted Restricted Total
Funds Funds Funds
2019 2019 2019
f f f
Tangible fixed assets 720,229 720,229
Fixed asset investments 148,045 148,045
Current assets 449,018 193,828 642,846
Creditors due within
one year		 (39,605) (39,605)
Creditors due in more than one year (101,980) (101,980)
Provisions for liabilities and charges (119,552) (119,552)
1,056,155 193,828 1,249,983
2. RECONCILIATION
OF NET MOVEMENT		 IN FUNDS TO NET CASH FLOW FROM OPERATING ACTIVITIES
2020 2019
f f
Net expenditure
for the		 year (as per Statement of Financial Activities) 273,963 (19,986)
Adjustment
for:
Depreciation
charges		 4,742
Fair value (gains)/losses on investment property (46,394)
Fair value (gains)/losses on fixed asset investments (6,930) (20,308)
Dividends,
interest
and		 rents from investments (46,806) (36,025)
(increase)
in debtors		 55,145 (3,801)
Increase/(decrease)
in creditors		 9,534 19,487
Defined benefit scheme finance cost adjustment (7,499) (9,421)
Net cash used in operating activities 235,755 (70,054)

2020 2019
E E
Cash and cash equivalents 565,012 282,451
565,012 282,451