## ## |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| ##