##
##
|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|