2021-12-31-accounts - Grace Baptist Charities Limited

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								202/	Z020*
						Unrestricted	Restricted	Total	Total
					Note	Fund	Fund f	Funds	Fundsf
Income and endowments	from:
Charitable activities					2. 1	68.509		68,509	58,147
Investments					2.2	40,028	1.843	41 871	44.982
						108537	1 843	110300	03.129
Expenditure on:
Raising funds					3.1	5,887		5,887	6,139
Charitable activities					3.—	104773	0040	114813	89481
Total expenditure						1106611	1011~II	120700	95.6211
Net (deficit) / income before net gains on investments						(2,123)	(8,197)	(10,320)	7,509
Net gains on investments
Realised gain						172,665		172,665
Unrealised gains on investments						8431		8431	74798
						181,096		181,096	74,798
Net income and Net movement		in Funds				178,973	(8,197)	170,776	82,307
Reconciliation offunds'. Funds brought fonvard Funds carried forward					10	321,517 159.954 5,4»		481.471 52.247	399.164 481 471
No operations 0vere acquired or discontinued			during	the	year.
*Prioryenr onnlpslsi
						Unreslrl cecil	Reslricleil	2020
						Funil	Fund	Totalfumls
						f	f
Income and endowments	from:
Charitable activities						58,147		58,147
Investments						42.830	2 2	44982
Total income and endowments						100977	2152	103119
Expenditure on:
Raising funds						6,139		6,139
Charitable activities						89441	40	89481
Total expenditure						95,580	40	95,620
Operating surplus						5,397	2,112	7,509
Net gains / (losses) on investments
Unrealised gains /(losses) on		investments				74,798		74,798
Net income and Net movement		in Funds				80,195	2,112	82,307
Recoaciliation offunds: Funds brought forward Funds carried forward					43 7174»9 64 ~32l »5995 401471

			AT 3)STDECEMB	ER 2	021
						2021			2020
				Note	f			f	f
Fixed assets
Investments							172.699		1,291,603
Current assets
Debtors (including than one year)	f846 916(2020:f715439) due in more			5	850,969			724,401
Investments				6	159,078			158,399
Cash at Bank					2 493	697		I 195	290
To/a/ Current assess					3,503.744			2,078,090
Creditors: Amounts		falling due within	one year	7	~369	643		~6450
Net current assets/(liabilities)							134 101		~83.3
Tetal assets less current liabilities							1,306,800		1,208,243
Creditors: Amounts		falling due after	one year				(654,553)		(726,772)
Total net assets				10			652 247		483 473
The funds ofthe charity:
Unrestricted funds							464.154		26,277
Revaluation Reserve		(unrestricted)					36,336		295.240
Total Unrestricted	Fund						500,490		321.517
Restricted income	funds			10			151,757		159,954
Total funds							652.2l7		481 471

							202/	2020
Statement ofcash flows:							Toto/ Funtls	Toto/ Funt/tI
						Table	f	f
Cash flows fram operating Net cash provided by (used	activities: in) operating	activities					~37.781	~195 8'9
Cash Ilows from investing	activities:
Dividends, interest and rent	from investments						36,867	36,990
Proceeds from sale ofinvestments Purchase ofinvestments							1,300,000 ~679	~990
Net cash provided by (used	in) investing	activities					1336188	36000
Change in cash and cash equivalents		in the reporting		period			1,298,407	(59,839)
Cash and cash equivalents at the beginning ofthe reporting					period		I 191290	.- 5.1 9
Cash and cash equivalents	at the end	ofthe reporting		period		0	936	. 290
Table A - Reconciliation ofnet income /(expenditure)				to	net cash tlow
from operating activities:							202If	2020f
Net income / (expenditure)	for the reporting		period (as per
the statement offinancial activities)							170,776	87,307
Gains on investments							(181,096)	(74,798)
Dividends, interest and rent	fiom investments						(36,867)	(36,990)
(Increase) in debtors							(126,568)	(56.861)
Increase / (decrease) in creditors Net cash provided by (used in) operating			activities				~37 78	~8t
Table B - Analysis ofcash	and cash equivalents:
Cash in hand							2,447.808	1,149.561
Notice deposits (less than 3	months)						43 88	45.729
Total cash and cash equivalents							4 7	719

	Unrestricted funds —these are funds which discretion ofthe directors.	Unrestricted funds —these are funds which discretion ofthe directors.	can be used	in accordance	with the	charit	able objects at	the
2	INCOME AND ENDOWMENTS			2021	2021		2021	2020
	2.1 Income from charitable activies			Unrestricted f	Restricted f		Totalf	Totalf
	Management charges			32,743			32,743	32,396
	Property management			14,268			14,268	14,922
	Administration Charges			11,379			11,379
	Interest fiom loans to churches and trusts			10,119			10,119	10,829
				68,509				4
	2.2 Income from investments Investment properties Bank and other interest			38,485 3		' '	38,485 38,275 '*6. 707
					.	4'	4 7	44 98-
	All investment income arose	ti.om assets held	in the IIK
3	EXPENDITURE			2021	2021		2021	2020
				Unrestricted	Restricted		Total	Total
				f	f			f
	3.1 Raising funds
	Investment property expenditure			5 887		—	5.887
				5 887			887	6it
	3.2 Charitable activities
	Grant payable to AGBC(SE)			58.378			58,378	47,)91
	Grant payable to Downe Baptist Church				10,000		10,000
	Interest payable to churches	and trusts		40,420			40,420	37,344
	Oftice and stationety costs			16			16	127
	Trustee management charge					40	40	40
	Legal and professional fees			12			12	13
	Goverance costs			5,831			5,831	4,706
	Bank charges &interest			116			116	60
				104 773	.	4	14 813	89481

4	INVESTMENTS					2021f
	Investment Properties
	Market value at 1st Janumy 2021					1,291.603
	Additions
	Unrealised (losses) Igains Disposals					8,431 ~7.335
	Market value at 31stDecember	2021				172699
	Historical cost at 31stDecember 2021					2 0363
	The directors obtained a professional	valuation ofthe investment		properties	in December 2021.
					202/	2020
5	DEBTORS
	Loans (payable after more than one		year)
	Loans to churches (4)				259,916	240,439
	Loans to trusts (4)				587 DOD	475
					846916	715.439
	Other debtors
	Amounts due from churches				2,923	4,436
	Amount due fiom trusts					2,819
	Sundry debtors
						8962
	Total debtors				050,969	24.401
6	CURRENT ASSETINVESTMENTS				2021	2020
					f	f
	Counties and Cambridge bank 95 days' notice				59,078	58,399
	Shawbrook Bank 120 days' notice				1DOOOD	100000
					159078	158'99
7	CREDITORS: amounts falling due	within	one year		202If	2020f
	Amounts due to churches				1,765,086	1,720,564
	Amount due to AGBC(SE)				354,505	309,055
	Amounts due to trusts				245,822	127,966
	Other cmditors				42 0	3,865
					2.369.643	2.161.450
8	CREDITORS: amounts falling due	after more than one year			202lf	2020f
	Amounts due to churches				654 553	726 772

RESTRICTED FUNDS	202if	202l	202if
	Hayes Lane	Downe	Total
	Legacy	Legacy
Balance at 1st January 2021	26,295	133,659	159,954
Income Expenditure Balance at 31stDecember 2021	304 ~20 26.579	1,539 ~l ~020 125 178	1,843 ~10tl4 ~175
Figures for previous yearfor comparison	2020 f	2020 f
	Hayes Lane	Downe
	Legacy	Legacy
Balance at 1stJanuaiy 2020 Income Expenditure	25,961 354 ~20	131,881 1.798 ~20	157.842 2,152 ~4
Balance at 31stDecember 2020	5	133659	15 54

the directors ofthe company.
NET ASSETS	Vnreslri cled	Restricted		202I
Currenl year	f			Totalf
Investments	177.699			171L699
Net Current assets	982.344	151,757		1,1347101
Long term liabilities	~64,553			(654,553)
	500.490	151.757		652 247
				2020
Figures forprevious yearfor comparison	Vnreslricteri f	Restri f	cted	Totalf
Investments	1,291,603			1,291,603
Net Current (liabilities) Iassets Long term liabilities	(243,314)	159,954		(83,360) ~77t
	321517		.	481471

AU	DIT, INDEP	ENDEN	T EXAMINATIO	N AND OTHER FINANCI	AL SERVICES FEES
The	company7s	auditors	made the following	charges:	202if	2020f
Fee	for audit of	accounts			3,900	3,840
Fee	for other services				80	66
					3 980	3 906