| INDEX | PAGE |
|---|---|
| Trustees' Annual Report | 1 - 6 |
| Independent Audito~s Report | 7 - 10 |
| StatementofFinancialActivities | 11 |
| Balance Sheet | 12 |
| StatementofCash Flows | 13 |
| Notestothe Financial Statements | 14 - 23 |
| until 30 April 2021 | Mr David M Leverett FCA |
| from 1 May 2021 | Mrs Emily A Blake LLB |
| IndependentAuditor | GriffinCharteredAccountants |
| AirportBusinessPark | |
| Unit 4 Silverdown Office Park | |
| EXETER | |
| Devon | |
| EX5 2UX | |
| Bankers | CAF Bank Limited |
| 25 Kings Hill Avenue | |
| Kings Hill | |
| WESTMALLING | |
| Kent | |
| ME19 4JQ | |
| Solicitors | Toilers LLP |
| 1 WatersideWay | |
| Bedford Road | |
| NORTHAMPTON | |
| NN4 7XD |
| Note | General | Designated | Capital | Total | Total | |
|---|---|---|---|---|---|---|
| Fund | Fund | Fund | 2021 | 2020 | ||
| £ | £ |
£ | £ | £ | ||
| Income and endowments from: | ||||||
| Donationsandlegacies | 2 | 24,775 | 0 | 0 | 24,775 | 4,719,689 |
| Investments | 3 | 2,510 | 0 | 0 | 2,510 | 849 |
| Other | ||||||
| - Proceedsofultimatetrusts | 4 | 0 | 0 | 1,398,216 | 1,398,216 | 48,332 |
| Totalincome | 27,285 | 0 | 1,398,216 | 1,425,501 | 4,16s,s101 | |
| Expenditure on: | ||||||
| Charitableactivities | ||||||
| Costofloan and grant making | 5 | 33,670 | 75,239 | 298,977 | 407,886 | 99,221 |
| Total expenditure | 33,670 | 75,239 | 298,977 | 407,886 | 99,221 | |
| Net income | (6,385) | (75,239) |
1,099,239 | 1,017,615 | 4,669,649 | |
| Transfers between Funds | 15,000 | 50,577 | (65,577) | 0 | 0 | |
| Net MovementinFunds | 8,615 | (24,662) | 1,033,662 | 1,017,615 | 4,669,649 | |
| Reconciliationoffunds: | ||||||
| Total funds brought forward | 16 | 15,177 | 92,284 | 4,562,188 | 4,669,649 | 0 |
| Total funds carried forward | 16 | 23,792 | 67,622 | 5,595,850 | 5,687,264 | 4,669,6491 |
| Note | 2021 | 2020 | |||||
|---|---|---|---|---|---|---|---|
| £ | £ | £ | £ | ||||
| Fixed Assets | |||||||
| Investments | 9 | 2,729,495 | 2,844,525 | ||||
| Capital equipment | 10 | 919 | 0 | ||||
| Current Assets | |||||||
| Debtors | 11 | 120,074 | 52,971 | ||||
| Cash at bank and in hand | 2,879,695 | 1,785,910 | |||||
| 2,999,769 | 1,838,881 | ||||||
| Creditors: Amounts fallingdue | |||||||
| within oneyear | 12 | 42,919 | 13,757 | ||||
| Net Current Assets | 2,956,850 | 1,825,124 | |||||
| Total Assets less Current Liabilities being Net Assets |
Is,6a1 | ,264I | 4,669,6491 | ||||
| Charity Funds | |||||||
| Unrestricted funds | |||||||
| General Fund | 16 | 23,792 | 15,177 | ||||
| Designated Fund | 16 | 67,622 | 92,284 | ||||
| Capital Fund | 16 | 5,595,850 | 4,562,188 | ||||
| Is,6a1 | ,264I | 4,669,6491 |
| 2021 | 2020 | ||
|---|---|---|---|
| £ | £ | ||
| Reconciliationofnet movementinfunds to net cash flow from operating activities | |||
| Netmovementinfunds | 1,017,615 | 4,669,649 | |
| Adjustments for: | |||
| Interestreceived | (2,510) | (849) | |
| Depreciation | 918 | 0 | |
| Decrease/(increase)indebtors | (67,103) | (52,971) | |
| (Decrease)/increaseincreditors | 29,162 | 13,757 | |
| Net cash provided by /(used in) operating activities | 91a,oa21 | 4,629,586I | |
| Cash flow from investing activities | |||
| Interestreceived | 2,510 | 849 | |
| MovementsinloanstoChurches | |||
| Loans transferred from Baptist Building Fund | 0 | (2,845,290) | |
| Loans made | (350,000) | (300,000) | |
| Loansrepaid | 465,030 | 300,765 | |
| Purchaseoffixedassets | (1,837) | 0 | |
| Net cash flow from investing activities | 11s,1031 | 1 (2,843,676)1 | |
| Changeincash and cash equivalentsinthe reporting period | 1,093,785 | 1,785,910 | |
| Cash and cash equivalentsat31December 2020 | 1,785,910 | 0 | |
| Cash and cash equivalents at31December 2021 | 2,a19,s9s1 | 1,18s,910 1 | |
| Cash and cash equivalents consists of: | |||
| Cash at bank andinhand | 2,879,695 | 1,785,910 | |
| Cash and cash equivalents at31December 2021 | 2,a19,s9s1 | 1,18s,910 1 |
| 2 | INCOME FROM DONATIONS AND LEGACIES | 2021 | 2020 | |
|---|---|---|---|---|
| £ | £ | £ |
||
| Thank-offerings from Churches (see below) | 24,400 | 35,000 | ||
| Church Donations | 0 | 15 | ||
| PersonalSubscriptionsandDonations | 375 | 200 | ||
| Transferred from Baptist Building Fund (see below) | 0 | 4,684,474 | ||
| 24,7751 | I4.119,6891 | |||
| ThefundstransferredfromBaptistBuildingFundon1 June2020were:- | ||||
| GeneralFund | 0 | 14,334 | ||
| Designated Fund | 0 | 164,201 | ||
| Capital Fund | 0 | 4,505,939 | ||
| 01 | I4,684,4741 | |||
| Thenetassetstransferredwere:- | ||||
| Loanstochurches | 0 | 2,845,290 | ||
| Currentassets | ||||
| Debtors,prepaymentsandaccruedincome | 0 | 55,646 | ||
| Cash at bank | 0 | 1,794,229 | ||
| 0 | 1,849,875 | |||
| Currentliabilities | ||||
| Sundry creditors | 0 | 10,691 | 1,839,184 |
|
| 01 | 4,684,4741 | |||
| Thank-offerings from Churches | £ | £ | ||
| Bristol, Totterdown | 3,500 | 0 | ||
| Buckhurst Hill | 0 | 7,000 | ||
| Didsbury | 900 | 0 | ||
| Ipswich, Colchester Road | 10,000 | 0 | ||
| Liverpool, Old Roan, Aintree | 0 | 5,000 | ||
| Newport, Castlehold, IsleofWight | 0 | 10,000 | ||
| Northampton, Abbey Centre | 0 | 1,750 | ||
| Rothwell (Leeds) Sevenoaks,TheVine |
0 5,000 |
6,250 0 |
||
| South Oxhey | 5,000 | 5,000 | ||
| 24,4001 | 35,0001 | |||
| 3 | INCOME FROM INVESTMENTS | 2021 | 2020 | |
| £ | £ | |||
| Bank Interest | 2,510 | 849 | ||
| 2,5101 | 8491 |
| 4 | PROCEEDS OF ULTIMATE TRUSTS | 2021 | 2020 |
|---|---|---|---|
| £ | £ | ||
| Abertillery Baptist Church | 102,306 | 0 | |
| Deal Baptist Church | 100,000 | 0 | |
| Kingston, John Bunyan Baptist Church | 1,195,910 | 0 | |
| Witchford Baptist Church | 0 | 48,332 | |
| 1,398,2161 | 48,3321 | ||
| 5 | CHARITABLE ACTIVITIES | 2021 | 2020 |
| £ | £ | ||
| General Fund-Support costs | |||
| Administrator'ssalary/fees | 14,502 | 6,533 | |
| Travelcosts | 1,304 | 262 | |
| Computerconsultancy | 190 | 0 | |
| Printing,stationery,postageandtelephone | 360 | 335 | |
| Bankcharges | 229 | 108 | |
| Insurance | 3,246 | 531 | |
| General publicity | 20 | 20 | |
| Website | 129 | 154 | |
| Governancecosts(seenote6) | 12,772 | 7,278 | |
| Depreciationonfixedassets | 918 | 0 | |
| 33,6701 | 15,2211 | ||
| Designated Fund - Grants | |||
| Alness Baptist Church | 0 | 20,000 | |
| Bexhill-on-Sea, Sidley Baptist Church | 0 | 10,000 | |
| Buckhaven Baptist Church | 0 | 5,000 | |
| Chiddingfold Baptist Church | 0 | 7,500 | |
| Dennistoun Baptist Church | 0 | 25,000 | |
| Ewyas Harold Baptist Church | 4,239 | 0 | |
| Hainault Baptist Church | 11,000 | 0 | |
| Heanor Baptist Church | 15,000 | 0 | |
| Islay Baptist Church | 0 | 11,500 | |
| Montacute Baptist Church | 10,000 | 0 | |
| New Addington Baptist Church | 0 | 5,000 | |
| Oxford, John Bunyan Baptist Church | 10,000 | 0 | |
| Sutton St James Baptist Church | 25,000 | 0 | |
| 75,2391 | a4,oool | ||
| 108,9091 | 99,221I |
| 5 | CHARITABLE ACTIVITIES (CONTINUED) | 2021 | 2020 |
|---|---|---|---|
| £ | £ | ||
| Capital Fund- Grant | |||
| The London Baptist Property Board Limited | 298,977 | o | |
| 298,9771 | 01 | ||
| 6 | GOVERNANCE COSTS | 2021 | 2020 |
| £ | £ | ||
| Trustees' Meetings Audit fees |
3,043 5,940 |
108o | |
| Audit fees due to previous auditors | 1,320 | 6,270 | |
| Independent examinationofBaptist Building Fund | 900 | o | |
| Legal fees | 1,569 | 900 | |
| 12,7721 | 7,2781 | ||
| 7 | EMPLOYEES | 2021 | 2020 |
| £ | £ | ||
| Staff costs during the year were as follows: | |||
| Wagesandsalaries NationalInsurancecosts |
8,667 48 |
o o | |
| Pension costs (NEST) | 260 | o | |
| 8,975I | 01 |
| 10 | FIXED ASSETS | Office | 2021 | |
| equipment | Total | |||
| £ | £ | |||
| Cost brought forward | 0 | 0 | ||
| Additions | 1,837 | 1,837 | ||
| Cost at31December 2021 | 1,8371 | 1,8371 | ||
| Depreciation brought forward | 0 | 0 | ||
| Charge for the year | 918 | 918 | ||
| Depreciationat31December 2021 | 9181 | 9181 | ||
| Net book valueat31December 2021 | 9191 | 9191 | ||
| 11 | DEBTORS | 2021 | 2020 | |
| £ | £ | |||
| Other debtors | 117,205 | 49,997 | ||
| Prepayments | 2,869 | 2,974 | ||
| 120,0741 | 52,971I |
| CREDITORS: AMOUNTS FALLING DUE WITHIN ONE | YEAR | |
|---|---|---|
| 2021 | 2020 | |
| £ | £ | |
| Tradecreditors | 36,079 | 2,957 |
| Accrualsanddeferredincome | 6,840 | 10,800 |
| 42,919I | 13,757I |
| Analysisoffund movements 2021 | ||||||||
|---|---|---|---|---|---|---|---|---|
| Balance | Income | Expenditure | Transfers | Balance | ||||
| brought | forward | carried forward | ||||||
| £ | £ | £ | £ | £ | ||||
| Unrestricted funds | ||||||||
| General Fund | 15,177 | 27,285 | 33,670 | 15,000 | 23,792 | |||
| Designated Fund | 92,284 | 0 | 75,239 | 50,577 | 67,622 | |||
| Capital Fund | 4,562,188 | 1,398,216 | 298,977 | (65,577) | 5,595,850 |
|||
| 4,669,649 | 1,425,501 | 407,886 | 0 |
5,687,264! |
||||
| Analysisoffund movements 2020 | ||||||||
| Balance | b/f | Income | Expenditure | Transfers | Balance c/f | |||
| £ | £ | £ | £ | £ | ||||
| Unrestricted funds | ||||||||
| General Fund | 0 | 50,398 | 15,221 | (20,000) | 15,177 | |||
| Designated Fund | 0 | 164,201 | 84,000 | 12,083 | 92,284 | |||
| Capital Fund | 0 | 4,554,271 | 0 | 7,917 | 4,562,188 | |||
| 0 | 4,768,870 | 99,221 |
0 | 4,669,649! |
||||
| Analysisofnet assets between funds 2021 | ||||||||
| General | Designated |
Capital | Total | |||||
| fund | fund | fund | ||||||
| £ | £ | £ | £ | |||||
| Fixed Assets | 919 | 0 | 2,729,495 | 2,730,414 | ||||
| Current assets | 65,792 | 67,622 |
2,866,355 | 2,999,769 | ||||
| 66,711 | 67,622 | 5,595,850 | 5,730,183 | |||||
| Currentliabilities | 42,919 | 0 | 0 | 42,919 | ||||
| 23,792 | 67,622 | 5,595,850 | 5,687,264! | |||||
| Analysisofnet assets between funds 2020 | ||||||||
| General | Designated | Capital | Total | |||||
| fund | fund | fund | ||||||
| £ | £ | £ | £ | |||||
| Fixed Assets | 0 | 0 | 2,844,525 | 2,844,525 | ||||
| Current assets | 28,934 | 92,284 | 1,717,663 | 1,838,881 | ||||
| 28,934 | 92,284 | 4,562,188 | 4,683,406 | |||||
| Currentliabilities | 13,757 | 0 | 0 | 13,757 | ||||
| 15,177 | 92,284 | 4,562,188 | 4,669,649! |