2021-12-31-accounts - East Midland Baptist Association

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

(Including Income and Ex	pe	nditu	re	Account)
						Restricted		Total	Total
				Note	Unrestricted	Designated	Endowed	Funds	Funds
					Funds	Funds	Funds	2021	2020
						F	6		6
INCOME from
Charitable activities
BU Operational Funding					110,889			110,889	124,380
BU Home Mission Funding					96,900			96,900	110,000
Proceeds from Sale of Closed			Churches		67,430			67,430	192,619
Preaching Contributions Sundry Income Investment Income					1,240 1,477 35,334		7,568	1,240 1,477 42,902	1,584 4,610 26,177
Rental Income					8,323			8,323	8,511
TOTAL INCOME					321,593		7,568	329,161	467,881
EXPENDITURE ON CHARITABLE				ACTIVITIES
Employment Costs Manse Costs					142,615 21,906			142,615 21,906	113,144 24,685
Travel Costs					4,891			4,891	4,780
Training					2,211			2,211	2,587
Conferences, Committees		and	Meetings		3,922			3,991	6,221
Home Mission Grants				3	79,291			79,291	66,550
Grants and Donations				3		1,950	1,125	3,075	5,310
Church Relations					1,038			1,038	1,291
Printing and Photocopying					4,282			4,282	3,997
Postage and Telephone Insurance					6,743 1,832			6,743 1,832	5,812 1,641
Depreciation					7,780			7,780	6,780
Legal and Professional Sundry Expenses Subscriptions					4,176 1,741 1,553			4,176 1,741 1,553	1,183 931
Closed Church costs					1,333			1,333	565
Governance Costs
Independent Examiner's		Fee			996			996	1,052
Insurance					320			320
Finance Cost (Pension	deficit)				355			355	1,390
TOTAL EXPENDITURE					286,985	1,950	1,194	290,129	247,919
Net Income/(Expenditure) before other recognised		for the gains		year	34,608	(1,950)	6,374	39,032	219,962
Other Recognised Losses	on Investments				42,026		9,571	51,597	(28,265)
Net Income/(Expenditure) for the and Net Movement in Funds				year 4	76,634	(1,950)	15,945	90,629	191,697
Balances at 1stJanuary	2021				734,755	777,515	202,187	1,714,457	1,522,760
Balances at31stDecember 2021				10-12	811,389	775,565	218,132	1,805,086	1,714,457

				2021		2020
		Note				F
Fixed Assets: Tangible Assets				15,763		15,849
Current Assets
Debtors		6	1,817,912		1,723,723
Cash at Bank			19,174		31,025
			1,837,086		1,754,748
Creditors
Falling due within one year		7	(5,757)		(4,313)
Net Current Assets				1,831,329		1,750,435
Total Assets Less Current	Liabilities			1,847,092		1,766,284
Provisions for liabilities
Defined Benefit Pension Scheme Deficit Liability		8		(42,006)		(51,827)
Net Assets				1,805,086		1,714,457
Funds
Unresticted:
General		10		811,389		734,755
Designated		11		775,565		777,515
Restricted:		12		132,636		123,391
Endowed:		12		85,496		78,796
TOTAL CHARITY FUNDS				1,805,086		1,714,457

Trustees receiving remuneration is the Re	gional Minister Revd
Remuneration	636,750
Employer Pension Contributions	64,303
Other costs	f2,667

EXPENDITURE OF CHARITABLE ACTIVITIES	EXPENDITURE OF CHARITABLE ACTIVITIES
		2021	2020
Home Mission Grants
Home Mission Grants to Churches		79,291	66,550
Other Grants to Churches	(restricted)	1,125	3,275
Other Grants to Individuals	(designated)	1,950	1,930
		3,075	5,205

5	TANGIABLE FIXED ASSETS	TANGIABLE FIXED ASSETS	TANGIABLE FIXED ASSETS
	Computer and Office Equipment
	At cost 01.01.21				38,986
	Additions				8,494
	Disposals				(5,065)
	Cost 31.12.21				42,415
	Depreciation —at 01.01.21			23,137
	—disposals			(5,065)
	—for year			8,580	26,652
	Net book value at 31.12.21				15,763
6	DEBTORS
					2021		2020
	Amounts owed by group	undetrtakings
	Inter-company Account	(Note 13)			1,817,912		1,723,723
7	CREDITORS - Amounts	falling due within one year
					2021		2020
	Other creditors and accruals				3,027		1,516
	Taxation and social security				2,730		2,797
					5,757		4,313
8	PROVISION FOR LIABILITIES
					2021		2020
	Defined Benefit Pension	Scheme Deficit Liability
	Balance Sheet Liabilty at		1stJanuary 2021		51,827		85,100
	Deficiency Contributions		paid		(9,115)		(6,727)
	Interest Cost				355		1,390
	Change in Liability				(1,061)		(27,936)
	Balance as at 31stDecember 2021				42,006		51,827
9	ANALYSIS OF NET ASSETS BYFUNDS
					Unrestricted	Restricted
					Funds	Funds	Total
	31st December 2021				f		6
	Fixed Assets				15,763		15,763
	Current Assets				1,618,954	218,132	1,837,086
	Current Liabilities				(5,757)		(5,757)
	Provisions for Liabilities				(42,006)		(42,006)
					1,586,954	218,132	1,805,086
	31st December 2020
	Fixed Assets				15,849		15,849
	Current Assets				1,552,561	202,187	1,754,748
	Current Liabilities				(4,313)		(4,313)
	Provisions for Liabilities				(51,827)		(51,827)
					1,512,270	202,187	1,714,457

10	UNRESTR	ICTED FUNDS
				Balance at	Incoming	Outgoing	Unrealised	Balance at
				01.01.21	Resources	Resources	Gains	31.12.21
		Unrestricted Funds		734,755	321,593	286,985	42,026	811,389
11	DESIGNATED FUNDS
					Balance at	Incoming	Outgoing	Balance at
					01.01.21	Resources	Resources	31.12.21
					6	F		6
		Pioneer Ministry	Fund		179,473		(1,950)	177,523
		Regional Ministry	Fund		125,000			125,000
		Pension Reserve	Fund		473,042			473,042
					777,515		1,950	775,565
12	RESTRICTED AND ENDOWMENT			FUNDS
				Balance at	Incoming	Outgoing	Unrealised	Balance at
				01.01.21	Resources	Resources	Gains	31.12.21
	Restricted
		Benevolent Fund		63,049	3,104		3,926	90,079
		Hunt Legacy		7,303	267		337	7,907
		Thos Cooke Trust		15,921	560	(1,125)	709	16,065
		Sutton in Ashfield		4,936	187		236	5,359
		Leicester Ass		10,172	385		487	11,044
		Peterborough Chaplaincy		457	17		22	496
		Burton on Trent		1,553	59		74	1,686
				123,391	4,579	(1,125)	5,791	132,636
	Endowments
	k	Hart Foundation		44,597	1,695	(69)	2,144	48,367
		Midland/Pegg Fund		17,598	666		842	19,106
	m	Round/Keywood	Trust	11,368	430		544	12,342
	n	Doric Trust		4,378	166		209	4,753
	0	Knipton Trust		855	32		41	928
				78,796	2,989	(69)	3,780	85,496
	TOTAL			202,187	7,568	(1,194)	9,571	218,132
	Explanatory Notes

supporting the DB Pla	supporting the DB Pla	n are collectively respons	n are collectively respons	n are collectively respons	ible for funding thi	s deficit.
The key assumptions		underlying the valuation			were as follows:
~ ' ~			~	~
RPI Price Inflation	Assumption					3.2'/0 pa
CPI Price Inflation	Assumption					2.7'/opa
Minimum Pensionable			Income Increases (CPI
plus 0.75'/0 pa)						3.20'/opa
Assumed Investment		Returns
Pre Retirement						2.95'/opa
Post Retirement						1.70'/opa
Deferred Pension	Increases
- Pre April 2009						3.20'/opa
-Post April 2009						2.50'/opa
Pension Increases
- Main Scheme pension			Pre	April 2006		2.70'/opa
—Main Scheme pension			Post April 2006			2.00'/opa
The next actuarial	valuation			ofthe DB Plan within the Scheme is		due to take place not later than as at 31
December 2022.

2021	2020
F239,054	E253,037
2021	2020
E231,355	E268,618