2020-12-31-accounts - East Midland Baptist Association

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		Page
Company Information
Annual Report ofthe Trustees		4-9
Report ofthe Independent Examiner		10
Statement ofFinancial	Activities
Balance Sheet		12
Notes to the Financial	Statements	13-20

(Including income and Exp	e	nditur	e Account)
						Restricted	Total	Total
			Note	Unrestricted	Designated	Endowed	Funds	Funds
				Funds	Funds	Funds	2020	2019
INCOME from
Charitable activities
BU Operational Funding				124,380			124,380	130,925
BU Home Mission Funding				110,000			110,000	120,000
Income from Closed Churches								1,687
Proceeds from Sale ofClosed Churches				11,965	180,654		192,619	139,688
Preaching Contributions				1,584			1,584	4,943
Sundry Income				3,610	1,000		4,610	14,149
Investment Income				22,090		4,087	26,177	24,448
Rental Income				8,511			8,511	5,905
TOTAL INCOME				282,140	181,854	4,087	467,881	441,725
EXPENDITURE ON CHARITABLE			ACTIVITIES
Employment Costs				113,144			113,144	'l43,656
Manse Costs				24,685			24,685	21,944
Travel Costs				4,780			4,780	14,453
Training				2,587			2,587	3,721
Conferences, Committees		and Meetings		5,821		400	6,221	10,657
Home Mission Grants			3	66,550			66,550	79,611
Grants and Donations			3	105	1,930	3,275	5,3'IQ	6,254
Church Relations				1,291			1,291	1,341
Printing and Photocopying				3,997			3,997	4,744
Postage and Telephone				5,812			5,812	5,984
insurance				1,841			1,641	1,530
Depreciation				6,780			6,780	6,973
Sundry Expenses				1,183			1,183	1,'I09
Subsciiptions				931			931	847
Closed Church costs				565			565	1,465
Governance Costs
Independent Examiners	Fee			1,052			1,052	948
Insurance								320
Finance Cost (Pension deficit)				1,390			1,390	2,508
TOTAL EXPENDITURE				242,314	1930	3,675	247,919	30S,048
Net Incomel(Expenditure)	forthe		year
before other recognised		gains		39,826	179,724	412	219,962	133,680
Other Recognised Losses on		investments		(22,825)		(5,440)	(28,265)	86,918
Nst incomel(Expenditure)	forthe		year
and Net Movement in Funds				17,001	179,724	(5,028)	191,697	200,59S
Balances at 1stJanuary 2020				717,754	597,791	207,215	1,522,760	1,322,162
Balances at31stDecember		2020	10-12	734,766	777515	202,187	1,714,467	1,522,760

Trustees receiving remuneration is the Re	gional Minister Revd
Remuneration	836,000
Employer Pension Contributions	F4,225
Other costs	83,487

FOR	THE YEAR ENDED 31STDE	THE YEAR ENDED 31STDE	CEMBER 20	20
5	TANGIABLE FIXEDASSETS
	Computer and Office Equipment
	At cost01.01.20						37,972
	AddNons						1,014
	Cost 31.12.20						38,986
	Depreciation - at01.01.20				16,357
	- for year				6,780		23,137
	Net book value at31.12.20						15,849
	Net book value at31.12.19						21616
6	DEBTORS
							2020		2019
							8
	Inter-company Account -	East Midland		Baptist Trust	Company	Ltd	1,723,723		1,687,381
7	CREDITORS - Amounts	fat8ng due within one year
							2020		2019
							8		8
	Taxation and social sscudity						2,797		2,546
	Other creditors and accruals						1,516		959
							4,313		3,505
8	PROVISION FOR LIABILITIES
							2020		2019
	Defined Benefit Pension	Scheme Deficit Liability							8
	Balance Sheet Liabilty at		1stJanuary 2020				85,100		87,762
	Deficiency Contributions		paid				(6,727)		(8,566)
	Interest Cost Change in Liability						1,390 ~127.236		2,508 3,396
	Balance as at31st	December 2020					61227		85,100
9	ANALYSIS OF NET ASSETS BYFUNDS
							Unrestricted	Restricted
							Funds	Funds	Total
	31stDecember 2020						8	6	8
	Fixed Assets						15,849		15,849
	Current Assets						1,552,561	202,187	1,754,748
	Current Liabilities						(4,313)	-	(4,313)
	Provisions for Uabilities						51,827)		51,827
							1512,270	202,187	1,71 45?
	31stDecember 2019
	Fixed Assets						21,615		21,615
	Current Assets						1,380,536	209,214	1,589,750
	Current Liabilities						(3,505)	-	(3,505)
	Provisions for Liabilities						(85,100)		85,100
							1,313,546	208,2'l4	1,522,760

RESTRICTED AND ENDOWMENT	RESTRICTED AND ENDOWMENT	RESTRICTED AND ENDOWMENT	FUNDS (Continued)	FUNDS (Continued)
	The Hunt Legacy	is used to support work amongst women,				with a preference	for	Derbyshire.
	'The Thomas Cooke Fund		isa legacy	supporting ministry	within the Loughborough			District.
	The Button in	Ashfield	Fund is	to be used for	the advancement		of	Baplist		work	in
	Notdngham shire.
	Leicester Association Fund - This respresents the residual					funds ofthe Association			to be used		to
	support the minisby in Leicester.
	The Peterborough	Prison	Chaplaincy	Fund is a fund	to	support the ministry		at	Peterborough
	Prison.
	The Burton on Trent Fund		istoassist	young people to	attend Bapist evenN.
	The income from	the Hart	Foundation	supports the education ofBaptist Associaton					area.
	The Midland/Pegg	Trusts	provide grants forthose in theological training.
m/n/o	The income from	the Round, Keywood, Doric and Knipton				Trusts are distnbuted		to	various
	causes.