2021-12-31-accounts

Reference and Administrative Details
Trustees' Report	4 —6
Independent Examiner's Report
Statement of Financial Activities
Balance Sheet
Statement of Cash Flow	10
Notes to the Financia IStatements	11-28

					South Eastern Baptist Association	South Eastern Baptist Association	South Eastern Baptist Association	South Eastern Baptist Association	South Eastern Baptist Association	South Eastern 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 M J Fanstone
					Revd J E Hardwick
					Revd J L Hunt —appointed 1	August 2022
					Revd PJ Kerley
					Revd J Newson —appointed	1		August 2022
					Revd N Richardson —appointed				1August 2022
					Mr G F Sigfrid
					Revd P LAmos —resigned 24		May 2021
					Revd P J Butchers- resigned		24		May 2021
					Pastor 5 Collingwood —resigned				24 May	2021
					Revd 5W Davison —resigned		31July 2022
					Revd J EJohnstone —resigned			24 May 2021
					Revd GT P McBain —resigned			24 May 2021
					Revd J E Mardell —resigned	15February				2022
					Revd R CStevens —resigned	24 May 2021
Company	Secretary:				Mr D Sheldon
Senior Management				Team:	Mr M F Browning, Treasurer
					Revd 5W Davison, Team Leader				8 RegionalMinister			—resigned 31July 2022
					Revd M J Fanstone, Moderator
					Revd J LHunt, Team Leader	&		Regional		Minister	—appointed		1August 2022
					Mr D Sheldon, Company Secretary
Bankers:					Reliance Bank Ltd
					Faith House
					23-24 Lovat Lane
					London
					EC3RBEB
Independent		Examiner			Azets Audit Services
					Chartered Accountants
					2"4 Floor, Regis House
					45 King William Street
					London
					EC4R 9AN

			Unrestricted	Restricted	Total	Total
			Funds	Funds	2021	2020
		Note	E	6	6	6
Income and endowments	from:
Donations and legacies		2	285,881	70,147	356,028	320,219
Other trading activities		3	11,811		11,811	12,066
investment income		4	28,376	15,090	43,466	46,806
Other income		5	113,364		113,364	283,597
Total income			439,432	85,237	524,669	662,688
Expenditure on:
Charitable activities		6	266,995	130,915	397,910	442,049
Total expenditure			266,995	130,915	397,910	442,049
Net income/(expenditure)	before
investment gains/(losses)			172,437	(45,678)	126,759	220,639
Fair value gains/(losses)	on
investment property		13	58,000		58,000	46,394
Net gains/(losses) on investments		14	17,928		17,928	6,930
Net income/(expenditure)	before
transfers			248,365	(45,678)	202,687	273,963
Transfers between funds			(17,748)	17,748
Net income/(expenditure)	before
other recognised gains/(losses)			230,617	(27,930)	202,687	273,963
Other recognised gains/(losses)		19	3,610		3,610	37,357
Net movements in funds			234,227	(27,930)	206,297	311,320
Reconciliation offunds:
Total funds brought forward		20	1,325,463	235,840	1,561,303	1,249,983
Total funds carried forward		20	1,559,690	207,910	1,767,600	1,561,303

	(Registration number	: 4292136)
			2021	2020
		Note		F.
Fixed Assets
Tangible assets		$2	156,634	232,381
Investment property		13	587,500	529,500
Investments		14	169,671	154,974
			913,805	916,855
Current Asseis
Debtors			272,170	305,250
Cash at bank and in	hand		731,822	565,012
			1,003,992	870,262
Creditors: Amounts	falling due within one year		(15,997)	(52,923)
Net Current Assets			987,995	817,339
Total Current Assets	less current liabilities		1,90VI00	1,734,194
Creditors: Amounts	falling due after more than one year	17	(75,000)	(98,195)
Provisions for liabilities: Defined benefit pension scheme liability		18	(59,200)	(74,696)
Net assets			1,767,600	1,561303
Funds ofthe charity;
Restricted funds		20	207,910	235,840
Unrestricted funds		20	1,559,690	1,325,463
Total funds			1,767,600	1,561,303

					2021	2020
				Note	f	6
Cash flows from operating		activities
Net cash	from operating	activities		22	(59,365)	235,755
					(59,365)	235,755
Cash flows from investing		activities:
Dividends,	interest and rents from investments				43,466	46,806
Purchase	of investment (Bread of Life subsidiary)				(10)
Proceeds	from sale of fixed asset				179,478
Proceeds	from sale of investments				3,241
Net cash	from investing activities				226,175	46,806
Change in cash and cash		equivalents	in the year		166,810	282,561
Cash and	cash equivalents	brought	forward		565,012	282,451
Cash and	cash equivalents	carried forward			731,822	565,012

		Unrestricted	Funds	Restricted	Total	Total
		Designated f	General E'	Funds f	2021 E	2020 f
Dividend	income		5,029		5,029	10,681
Interest	income		7		7
Rental income			23,340	15,090	38,430	36,125
			28,376	15,090	43,466	46,806
Total 2020			32,701	14,105	46,806

		Unrestricted	Funds	Restricted	Total	Total
		Designated	General	Funds	2021	2020
		E	6		6	6
Other income			948		948	17,286
Conference and training fees			5,422		5,422	22,659
Closure ofchurches						243,652
Gains on the sale oftangible	fixed
assets			106,994		106,994
			113,364		113,364	283,597
Total 2020			283,597		283,597

. EXPENDITURE ON CHARITABLE	ACTIVITIES
	Unrestricted	Funds	Restricted	Total	Total
	Designated E	General E	Funds E	2021 f	2020 E
Wages and salaries (note 11)		118,014	62,485	180,499	168,281
Staff Employers NIC (note 11)		5,038	4,968	10,006	8,388
Staff pensions (note 11)		12,000	7,695	19,695	17,800
Rent			21,478	21,478	18,177
Council tax and water rates		5,798	5,502	11,300	12,847
Property maintenance		558	1,807	2,365	39,565
Small equipment			3,629	3,629	5,077
Student grants		1,733		1,733	450
Training and conferences		10,282	507	10,789	25,007
Travelling		5,386	1,613	6,999	5,158
Housing allowance		12,900		12,900	17,750
Insurance		967		967	1,219
Telephone			949	949	618
Sundry expenses		2,214	12,447	14,661	3,020
Ministry grant paid		58,225		58,225	68,436
Electricity					2,010
Professional and legal fees			7,295	7,295	6,112
Association celebration					559
Printing, postage and stationery			179	179	603
Accountancy fees		7,452		7,452	10,050
Catering costs					525
Depreciation		3,263		3,263	4,742
Support costs (note 7)		23,165	361	23,526	25,655
		266,995	130,915	397,910	442,049
Total 2020		288,849	153,200	442,049

	Unrestricted	Funds	Restricted	Total	Total
	Designated	General	Funds	2021	2020
	E	E	E	E	E
Rents I property costs		4,834		4,834	6,849
Insurance		1,492		1,492	1,396
Equipment		1,496		1,496	1,988
Telephone		3,078		3,078	3,356
Printing, postage and stationery		741		741	1,588
Trade subscriptions		2,530	361	2,891	2,787
Sundry expenses		7,923		7,923	3,486
Travel		1,311		1,311	1132
Board costs					50
Interest payable (note 8)		(240)		(240)	3,023
		23,165	361	23,526	25,655
Total2020		25,385	270	25,655

8. INTEREST	PAYABLE
						Total	Total
						2021	2020
						E	E
Otherloans						(1,177)	1,071
Interest on net defined		benefit		pension	liability (note 19)	937	1,952
						(240)	3,023
9. NET INCOME/(EXPENDITURE)				FOR THE YEAR
						Total	Total
This is stated	after charging:					2021 f	2020 E
Independent	examination		fee			4,140	3,780
Over accrual	previous	year				110	180
						4,250	3,960

		2021	2020
		E	E
Revd	PJ Kerley	35,807	35,073
Revd	5 Davison	41,873	41,016
Mrs	P Kerley	12,374	10,722
Revd	J Newson		5,649

Staff costs were as follows:
	2021	2020
	E	6
Wages and salaries	180,499	168,281
Social security costs	10,006	8,388
Pension Costs	19,695	17,800
	210,200	194,469

the	year (	per headcount) were as follows:
			2021	2020
			No	No
Full	Time	Staff	5	4
Part	Time	Staff	5	5
			10

2. TANGIBLE	FIXEDASSETS
			Land and	Furniture	and
			Buildings f	Equipment f		Totalf
Cost
At 1January	2021		237,123	4,919		242,042
Disposals			(73,963)			(73,963)
At 31December 2021			163,160	4,919		168,079
Depreciation
At 1January	2021		4,742	4,919		9,661
Depreciation	charge		3,263			3,263
Disposals			(1,479)			(1,479)
At 31December 2021			6,526	4,919		11,445
Carrying amount
At 31December 2020			232,381			232,381
At 31December 2021			156,634			156,634
3. INVESTMENT PROPERTY
						Total
						f
Fair value
At 1January	2021					529,500
Revaluations						58,000
At 31December 2021						587,500
4. FIXEDASSET INVESTMENTS
		Listed	Unlisted	Subsidiary-
		Investments	Investments	Bread of Life		Total
		f	f	f		f
				(Seenote 25)
Market Value
At 1January	2021	142,959	12,015			154,974
Additions					10	10
Disposals		(3,241)				(3,241)
Revaluations		17,928				17,928
At 31December 2021		157,646	12,015		10	169,671

5. DEBTORS
		2021	2020
		E	E
Loans to churches		247,877	298,027
Prepayments	and accrued income	18,200	1,130
Other debtors		6,093	6,093
		272,170	305,250

16. CREDITORS: AM	OUN	TS FALLING DUE WITHIN ONE YEAR
			2021	2020
			E	E
Trade creditors			2,000	2,000
Other creditors			281	271
Otherloans				3,785
Accruals and deferred		income	13,716	46,867
			15,997	52,923
16A. DEFERRED INCOME
			2021	2020
			E	E
At 1January 2021
Amounts released	during the year
Amounts deferred	during the year		9,746
At 31December 2021			9,746

7. CREDITORS: AMOUNTS FALLING DUE AFTER M	ORE THAN ONE YEAR
	2021	2020
	E	E
Otherloans	75,000	98,195

							2021f	2D20f
Defined	Benefit	pension	scheme	liability	(note	19)	59,200	74,696

Type of assumption	Type of assumption	%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-Ap ri I 2009	3.20
~	Post-April 2009	2.50
Pension	increases
~	Main Scheme pension	2,70

		2021	2020
		E	E
Balance brought forward		74,696	119,552
Contributions paid in the year		(12,823)	(9,451)
Net interest expense		937	1,952
Loss/(gain) on change offunding	plan*	(3,610)	(37,357)
Balance carried forward		59,200	74,696

			31December	31December	31December
			2021	2020	2019
Discount rate Future increases to MPI (Minimum	Pensionable	Income)	2.0% 4.1'	0.4SS 3.0SS	1.7SS 3.2SS

			Balance at			Transfers	Balance at
			1January	Incoming	Resources	&Gains/	30December
			2021 f	Resources f	Expended f	(losses) f	2021 f
Unrestricted funds
General funds
Revaluation reserve			46,394			58,000	104,394
Unrestricted income fund			412,845	427,092	(207,556)	(46,065)	586,316
			459,239	427,092	(207,556)	11,935	690,710
Home Mission grant for		missions		8,370	(58,225)	49,855
Building loan fund			515,224	3,970	(1,214)		517,980
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
			866,224	12,340	(59,439)	49,855	868,980
Total unrestricted	fund		1,325,463	439,432	(266,995)	61,790	1,559,690
Restricted funds
Cavendish fund			88,193				88,193
Brasted fund			74,205				74,205
Church ofthe year	fund		10,700	500		(11,200)
Fresh Expressions			161				161
Kent Union fund			2,108				2,108
Kent Thameside Church		Planting Project	18,817	57,251	(54,930)		21,138
Baptist Grant			6,931				6,931
Northf lect Project				3,591	(21,339)	17,748
KTCP Bus Project			11,405				11,405
Bread of Life Project			23,320	23,895	(54,646)	11,200	3,769
Total restricted fund			235,840	85,237	(130,915)	17,748	207,910
Total funds			1,561,303	524,669	(397,910)	79,538	1,767,600

				Balance at			Transfers	Balance at
				1January	Incoming	Resources	&Gains/	30December
				2020 6	Resources E	Expended E	(losses) f	2020 E
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
				860,563	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
Ellington Baptist Church		Fund		10,325		(10,325)
Baptist Grant				6,931				6,931
Northf lect Proiect					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
Totalfunds				1,249,983	662,688	(442,049)	90,681	1,561,303

			Unrestricted	Restricted	Total
			Funds	Funds	Funds
			2021	2021	2021
			E	f	6
Tangible fixed assets			156,634		156,634
Investment	Property		587,500		587,500
Fixed asset	investments		169,671		169,671
Current assets			796,082	207,910	1,003,992
Creditors due within one year			(15,997)		(15,997)
Creditors due in more		than one year	(75,000)		(75,000)
Provisions	for liabilities	and charges	(59,200)		(59,200)
			1,559,690	207,910	1,767,600

			Unrestricted	Restricted	Total
			Funds	Funds	Funds
			2020	2020	2020
			f	f	f
Tangible fixed assets			232,381		232,381
Investment	Property		529,500		529,500
Fixed asset investments			154,974		154,974
Current assets			634,422	235,840	870,262
Creditors	due within one year		(52,923)		(52,923)
Creditors	due in more	than one year	(98,195)		(98,195)
Provisions	for liabilities	and charges	(74,696)		(74,696)
			1,325,463	235,840	1,561,303

22. RECON	CILIATION OF NE	T MOVEME	NT IN FUNDS TO NET CASH FLOW FRO	M OPERATING ACTIVI	TIES
				2021	2020
				f	E
Net expenditure for the year (as per Statement of Financial Activities)				202,687	273,963
Adjustment for:
Depreciation charges				3,263	4,742
Fair value	(gains)/losses on	investment	property	(58,000)	(46,394)
Fair value	(gains)/losses on	fixed asset investments		(17,928)	(6,930)
Dividends,	interest and rents from investments			(43,466)	(46,806)
(Gain) on	disposal offixed	asset		(106,994)
Decrease	in debtors			33,080	55,145
(Decrease)/Increase in creditors				(60,121)	9,534
Defined benefit scheme finance cost adjustment				(11,886)	(7,499)
Net cash	used in operating	activities		(59,365)	235,755
23. ANALYSIS OF CASH AND		CASH EQUIVALENTS
				2021	2020
				f	E
Cash and	cash equivalents			731,822	565,012
				731,822	565,012

	2021
Protit and Loss Account	E
Turnover	776
Cost ofsales	(335)
Administration expenses	(2,136)
Interest receivable and similar income	12,363
Profit for the financial period	10,668
Net Assets at 31December 2021	10,678