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|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|
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|(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|
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|||||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|
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|Trustees
receiving
remuneration
is the Re|gional
Minister Revd|
|---|---|
|Remuneration|636,750|
|Employer
Pension Contributions|64,303|
|Other costs|f2,667|
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|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|
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|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||||||||
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|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.|||||||
##
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|2021|2020|
|---|---|
|F239,054|E253,037|
|2021|2020|
|E231,355|E268,618|