2021-12-31-accounts - Leigh Road Baptist Church

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Financial review
Donations
The Church has multiple income streams for its general unrestricted fund. The majority of funds continues to be raised from
within its own membership and congregation. The restrictions ofCovid, preventing the Church from meeting on the premises,
has impacted cash donations and hence the reduced claim &om the Gift Aid Small Donation Scheme. Other avenues for giving have been opened including online giving via 'give.net. ' and text giving via 'Donate'. A legacy off9,931was received and
K9,088 &om matching funding, both bolstering the general giving.
Commercial letting
The break clause with Notting Hill Genesis was actioned ending the rental for flats 191aand 193ain August. Both flats were
subsequently let at market rate &om November.
The commercial let of 193-195Leigh Road has been having an-going issues that can only be remedied with major structural
repairs. As a temporary measure an actofgoodwill the fourth months' rent would be waived on a rolling basis until a solution
can be found.
Anew short-term lease was signed for the Marguerite Drive manse starting in November forf1,300per month.
PHAB Cafe signed a 3-year lease for 189Leigh Road in November 2020, splitting the rateable value ofthe shop between the
two charities. No rent was received &om PHAB up to March 2021 due to the rent-free period in the lease, following which
50%ofrent was agreed as a means ofsharing the burden offorced closured until lock down restrictions were fully lified in
June 2021.
All other commercial properties, 189Aflat and the Warehouse continued as planned.
Community lettings
Rental ofthe community rooms started to increase again in 2021 however they did not reach full capacity and ofien events were
cancelled due to changes in Covid restrictions at short notice. The reduction in rentals lead to the site management team
continuing to be furloughed up to September on a reducing scale. The Church has claimed f8,914 through the Job Retention
Scheme, using flexible furlough.
The Community Hub which operates out of 189-191Leigh Road opened its doors again to gmups in October 2021. As the
premises attracts business rate the retail covid grant was awarded for 83,000.
Preschool
The principle funding received by Preschool is &om Southend Bomugh Council, who fund all children from 3to 4years old for
15 hours. Additional funding is available for certain children. In total there are approximately 50 children attending various
sessions. Fully open through 2021,they have worked hard to ensure they can continue to provide a quality service, being one of
the only preschools in the Southend area that committed to re-opening. This was recognised and greatly appreciated by
Southend Early Years. The additional cost and lower income resulting from Covid have depleted the reserves held within the
Pre-school account. The Trustees are aware of the situation and are carefully monitoring. Pre-school is reintroducing
fundraising events for 2022.
Church groups
The sub-groups ofthe Church are self-funding and receive their income in a variety ofways but mainly through subscriptions
or donations. Based on the group's activities, some have stayed open throughout 2021 others only opening from late summer.
The tennis club remained open throughout 2021 with the relevant Covid restrictions in place. The club has completed the
refurbishment ofthe club house, coloured the courts and replaced the fencing and gate. Whilst open the club has been an oasis
for people to keep flt dwing the pandemic. The Tennis club has benefited &om being a rateable premises, receiving 88,097
fmm Southend Borough Council in Business rate grants. They successfully secured a grant off5,000 &om Essex gc Southend
Sports Trust and f1,050 from Active Essex. They continue to investigate installing flood lights and securing funding for this
pmject.
Friday Night cafe, Night Shelter, Football club and Coffee club all remained closed in 2021.
Housing Association
The Housing Association balance offunds is f278,939. This fund is managed by two Trustees and two church members who
are not trustees. This group has the responsibility for investing and using these funds for the furtherance and care ofthe elderly
both within and outside of the church community. The group is also responsible to provide a report to the Church Members
Meeting at least annually. The fund currently supports 73%aofone paid part-time staff member for a total of 11.5 hours per
week plus their expenses. Other i a formation
It was agreed with The Baptist Union (BU) that Rev Steve Tinning would be Seconded to them for 50%ofhis time fiom April
2020 to November 2021. The Baptist Union reimburse the CIO for the proportion ofemployment costs. Steve joined the BU
full-time in November 2021 having been with the CIO for 9years.
The Thank offcring was designated to the Youth fund to support the position ofthe Children and Families Worker who started
in October 2021.

			Unrestricted	Restricted	Total	Unrestricted	Restricted	Total
			feeds	funds		funds	fuads
		Notes	2021	2021	2021	2020f	2020 f	2020
Income aad endowments		from:
Donations and	legacies		191,833	26,397	218,230	216,146	45,935	262,081
Charitable activities			21,668	99,871	121,539	10,619	96,$32	107,451
Investments			60,853	2,713	63,566	55,124	3,370	58,494
Other income			31,400	985	32,385	27,838	5,250	33,088
Total income			305,754	129,966	435,720	309,727	151,387	461,114
Charitable activities			271,329	149,748	421,077	266,651	143,629	410,280
Other		10	1,840		1,840
Total expenditure			273,169	149,748	422,917	266,651	143,629	410,280
Net incoming/(outgoing) resources before traasfers			32,585	(19,782)	12,803	43,076	7,75850.834
Gross transfers	between
funds			439	(439)		205	(205)
Net iacome/(expenditure)		for tbe
year/
Net movement	in funds		33,024	(20,221)	12,803	43,281	7,553	50,834
Fund balances	at I January	2021	2,839,418	338,103	3,177,521	2,796,137	330,550	3,126,687
Fuad balaaces	at31December
2021			2,872,442	317,8$2	3,190,324	2,839,418	338,103	3,177,521

			2021		2020
		Notes	8
Fixed assets
Tangible assets				2,684,866		2,686.995
Current assets
Debtors		12	26.238		24,266
Cash at bank and in	hand		510,&47		504,876
			537.085		529,142
Creditors: amounts	falling dne within one
year		15	(6,827)		(8,259)
Nct current assets				530,258		520.883
Total assets less current liabiTities				3,215,124		3,207.878
Provisions for liabilities				(24,800)		(30,357)
Net assets				3.190,324		3.177.521
Income funds
Restricted funds				317,882		33&,103
Unrestricted funds				2,872,442		2,839,41&
				3,190,324		3,177,521

ied Actuary using the projected Unit Method. The m as f298 million. DBPlan revealed a deficit ofassets compared with service funding level of70%). The Church and the responsible for funding this deficit.	arket value ofth the value ofliabili other employers
Type offinancial assumption	%pa
RPM price inflation assumption	3.20
CPI price inflation assumption	2.70
Minimum Pensionable income increases	3.20
(CPI plus 0.75%pa)


Assumed investment	returns
-Pre -retirement		2.95
-Post retirement		1.70
Deferred pension increases
-Pre April 2009		3.20
-Post April 2009		2.50
Pension increases
-Main Scheme pension		2.70

Section 28.11AofPRS 102 requires agreed deficit recov movement in the provision is set out in the table below.	ery payments to	be recognised as a l	iability. The
Accounting date (year ending):		31/12/21	31/12/20
Balance sheet liability at year start		f30,357	f49,441
Minus deficiency contributions paid		f(5,303)	g(3,909)
Interest cost (recognised in SoFA)			K 807
Remaining change to balance sheet liability* ( recognised	in SoFA)	K(365)	g(I5,983)
Balance sheet liability atyear end		f24,800	f30,357

been valued using the follo payments:	wing assum	ptions set by	reference to the du	ration of the de	ficit recovery
Accounting date			31/12/21	31/12/20	31/12/19
Discount rate			20%	0.4%	I 7%
Future increases to minimum	pensionable	income	4.1%	3.0%	3.2%

				Unrestricted	Restricted	Total	Unrestricted	Restricted	Total
				funds	funds		funds	funds
				2021	2021	2021	2020	2020	2020
					f		f	f.
Donations	snd	giffs		115,935	7,024	122,959	110,399	2,289	112,688
Legacies receivable				9,931		9,931	29,376	29,376	58,752
Grants				3,000	15,572	18,572	25,000	11,897	36,897
Income tax	recovered		and
non giff aid collections				58,088	3,180	61,268	48,969	1,245	50,214
Other donations		and
fundraising	events			4,879	621	5,500	2,402	1,128	3,530
				191,833	26,397	218,230	216,146	45,935	262,081

		Charitable	Charitable
		Income	Iacome
		2021	2020
		8	8
Lettings - stables managed		21,133	9,442
Other donations		13,539	9,696
Pre-school		86,826	87,993
Rcofund		41	320
		121,539	107,451
Analysis by fund
Unrestricted	funds	21,668	10,619
Restricted funds		99,871	96,832
		121,539	107,451

		Unrestricted	Restricted	Total	Unrestricted	Restricted	Total
		funds	funds		funds	funds
		2021	2021	2021	2020	2020	2020
		8		8	I		f
Interest receivable	and
lettings - non stables		60,853	2,713	63,566	55,124	3,370	58,494
Other income
		Unrestricted	Restricted	Total	Unrestricted	Restricted	Total
		funds	funds		funds	funds
		2021	2021	2021	2020	2020	2020
				8	6	f	f
Other income		31,400	985	32,385	27,838	5,250	33,088

			Charitable	Maaagemest	Total	Charitable	Maasgement	Total
			activities		2021	activities		2020
			2021	2021		2020	2020
			f	f		f	f
Staffcosts			163,046		163,046	150,020		150,020
Depreciation and impairtnent			288		288	998		998
Cleaning and Maintenance-
Insurance			10,971	11,939	22,910	10,615	8,428	19,043
Buildings and equipment-
Services			3$,774	20,551	59,325	40,654	18,141	58,795
Food and drink - Telephone
and internet			974	3,899	4,873	959	4,690	5,649
Music and multi-media-
Postage and stationary			1,794	344	2,138	1,070	822	1,892
Organ and paino tuning-
photocopymg			518	2,353	2,$71	1,572	2,583	4,155
Youth Pubbcrty/	Pnntrng		866	668	1,534	143	913	1,056
Speakers - Books,	visual aids
etc			722	148	870	295	131	426
Evangelism and discipline-
Subscriptions/ licences			1,044	1,123	2,167	1,370	1,086	2,456
PA - Staffexpenses				1,782	1,782	808	987	1,795
Events at LRBC -	Information
technology			4,061	4,063	8,124	1,008	15,015	16,023
Support other - Legal and professional				9,729	9,729	1,489	11,659	13,14$
Support organisations		-Bank
charges			27,703	93	27,796	28,654	77	28,731
Support individuals			7,233		7,233	7,085		7,085
Conferences / courses			979		979	966		966
Other funds			5,999		5,999	2,063		2,063
Pre-school wages			99,413		99,413	95,979		95,979
			364,385	56,692	421,077	345,748	64,532	410,280
			364,385	56,692	421,077	345,748	64,532	410,280
Analysis by fund
Unrestricted funds			218,000	53,329	271,329	206,123	60,528	266,651
Restricted funds			146,385	3,363	149,748	139,625	4,004	143,629
			364,385	56,692	421,077	345,748	64,532	410,280

The average monthly number ofemployees during the yea	r was:
	2021	2020
	Number	Number
Church	11	10
Preschool	9	9
Total	20	19
Employm eat costs	2021	2020
	E	E
Wages and salaries	168,603	169,104
Other pension costs	(5,557)	(19,084)
	163,046	150,020

							Unrestricted	Total
							fuads
								6
							2021	2020
	Net loss on	disposal oftsmgible		fixed assets			1,840
							1,840
11	Tsagihle fixed assets
					Freehold isnd	Plant sad	Fixtures snd	Total
					sad euitdiags	equipment	fittings
	Cost
	At 1January		2021		2,684,000	11,977	49,129	2,745,106
	Disposals					(8,453)	(3,718)	(12,171)
	At 31December 2021				2,684,000	3,524	45,411	2,732,935
	Depreciation		and impairmeat
	At 1January		2021			10,268	47,844	58,112
	Depreciation		charged in the year			99	189	2$8
	Eliminated	in	respect ofdisposals			(7,141)	(3,190)	(10,331)
	At 31December 2021					3,226	44,$43	48,069
	Carrying amount
	At 31December 2021				2,6$4,000	298	568	2,684,866
	At 31December 2020				2,684,000	1,709	1,286	2,686,995

The Stables v		195,000
Oasis Coffee House (Alpha Centre)'		315,000
Manse, 29 Marguerite	Drive	337,000
Manse, 19Parkside		650,000
Teonis courts (at valuation) '		12,000
193-195Leigh Road v		345,000
Flats 191aand 193 v		330,000
Warehouse - Chalkwell	Park Drive s	300,000
Flat 189aLeigh Road	v	200 000
		2684000

			et movement	rane fera
			ds	etween funds
		1/01/2021			1/12/2021
Unmstricted	funds
neral fund		,833,521	17,201	00	,851,022
ank offering		1,999	,726		,725
asia
Eco-fund		93$	65)		73
outh fund —designated		,960	10,416	139	13,515
Living mom 191			07		07
		,839,418	2,585	39	,872,442
estricted funds
ootball				139)
Women fellowship		527	57)	50)	20
		553	107	150)	10
RBCtoddlers		1,205	345)	100)	60
nergise		554			54
ennis olub		9,596	3,467)		6,129
re-school		16,150	14,659)		1,491
RBCHousing &Welfare association		84,024	5,085)		7$,939
offee club					100
hurches together in leigh		1,992			1,992
Sundry one-off items		1,352	,153		,505
uspended meals		81	200)		81
ight shelter		1,316	1,315)
		38,103	19,782)	439)	17,882
otal funds		,177,521	12,803		,190,324

					acoming	esources	Movement
					esources	xpended	in funds
	nrestricted	funds
	neral fund				85,941	68,740	17,201
	ank offering				5,490	764	,726
	co-fund					106	65)
	outh fund —designated				13,975	3,559	10,416
	iving room 191				07		07
					05,754	73,169	2,585
	estricted fuads
	Football
	Women fellowship				21	578
					01	94	107
	RBCtoddlers				59	804	345)
	canis club				8,574	32,041	3,467)
	re-school				7,392	102,051	14,659)
	RBCHousing		dc Welfare association		,711	,796	(5,085)
	olfee club
	undry onemff		items		10,022	,869	5,153
	uspended meals					00	200)
	ight shelter					1,315	1,315)
					129,966	149,748	19,782)
	otal funds				35,720	22,917	12,803
15	Creditors: amounts			falling due withia one year
							2021	2020
							f	f
	Accruals and defened			income			6,827	8,259

Provisioas	far liabilities	2021f	2020 f
		24,800	30,357
Movements	on provisiosm
At 1January	2021 and 31December 2021		24,800