## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## |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)|| ## ## |I|Accounting|policies|||| |---|---|---|---|---|---| ||||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| ##