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2023-12-31-accounts
| INDEX |
PAGE |
| Trustees'AnnualReport |
1 - 8 |
| IndependentAuditor'sReport |
9-12 |
| StatementofFinancialActivities |
13 |
| BalanceSheet |
14 |
| StatementofCashFlows |
15 |
| NotestotheFinancialStatements |
16-25 |
|
Note |
General |
Designated |
Capital |
Total |
Total |
|
|
Fund |
Fund |
Fund |
2023 |
2022 |
|
|
£ |
£ |
£ |
£ |
£ |
| Income and endowments from: |
|
|
|
|
|
|
| Donations and legacies |
2 |
41,330 |
0 |
0 |
41,330 |
35,115 |
| Investments |
3 |
117,628 |
0 |
0 |
117,628 |
19,439 |
| Other |
|
|
|
|
|
|
| - Proceedsofultimate trusts |
4 |
0 |
0 |
56,849 |
56,849 |
240 |
| Total income |
|
158,958 |
0 |
56,849 |
215,807 |
54,794I |
| Expenditure on: |
|
|
|
|
|
|
| Charitable activities |
|
|
|
|
|
|
| Costofloan and grant making |
5 |
32,866 |
92,438 |
0 |
125,304 |
68,463 |
| Total expenditure |
|
32,866 |
92,438 |
0 |
125,304 |
68,463I |
| Net income |
|
126,092 |
(92,438) |
56,849 |
90,503 |
(13,669) |
| Transfers between Funds |
|
(125,000) |
15,860 |
109,140 |
0 |
0 |
| Net Movement in Funds |
|
1,092 |
(76,578) |
165,989 |
90,503 |
(13,669) |
| Reconciliationoffunds: |
|
|
|
|
|
|
| Total funds brought forward |
17 |
21,423 |
150,673 |
5,501,499 |
5,673,595 |
5,687,264 |
| Total funds carried forward |
17 |
22,515 |
74,095 |
5,667,488 |
5,764,098 |
5,673,595I |
|
Note |
2023 |
|
|
|
2022 |
|
|
|
£ |
£ |
|
£ |
|
£ |
| Fixed Assets |
|
|
|
|
|
|
|
| Investments |
9 |
|
3,071,179 |
|
|
|
2,254,165 |
| Capital equipment |
10 |
|
|
0 |
|
|
0 |
| Current Assets |
|
|
|
|
|
|
|
| Debtors |
11 |
4,028 |
|
|
3,361 |
|
|
| Investments |
12 |
2,218,485 |
|
|
519,226 |
|
|
| Cashatbank and in hand |
|
479,313 |
|
|
2,904,752 |
|
|
|
|
2,701,826 |
|
|
3,427,339 |
|
|
| Creditors: Amounts falling due |
13 |
8,907 |
|
|
7,909 |
|
|
| within one year |
|
|
|
|
|
|
|
|
|
|
2,692,919 |
|
|
|
3,419,430 |
| Net Current Assets |
|
|
|
|
|
|
|
| Total Assets less Current Liabilities being |
|
|
5,764,098! |
|
|
|
5,673,595i |
| Net Assets |
|
|
|
|
|
|
|
| Charity Funds |
|
|
|
|
|
|
|
| Unrestricted funds |
17 |
|
22,515 |
|
|
|
21,423 |
| General Fund |
17 |
|
74,095 |
|
|
|
150,673 |
| Designated Fund |
17 |
|
5,667,488 |
|
|
|
5,501,499 |
| Capital Fund |
|
|
|
|
|
|
|
|
|
|
5,764,098! |
|
|
|
5,673,595i |
| Thefinancial statements were approved and authorised for issue by the Trustees on |
|
|
19June |
2024 |
|
|
|
| Signed on behalfofthe BoardofTrustees: |
|
|
|
|
|
|
|
|
|
D M Leverett |
|
|
|
|
|
|
|
Trustee |
|
|
|
|
|
|
2023 |
2022 |
|
£ |
£ |
| Reconciliationofnet movementinfunds to net cash flow from operating activities |
|
|
| Net movement in funds |
90,503 |
{13,669) |
| Adjustments for: |
|
|
| Interest received |
(117,628) |
{19,439) |
| Depreciation |
0 |
919 |
| Decrease/{increase)indebtors |
(667) |
116,713 |
| (Decrease )/increaseincreditors |
998 |
{35,010) |
| Net cash provided by /(used in) operating activities |
(26,794}! |
49,s14I |
| Cash flow from investing activities |
|
|
| Interest received |
117,628 |
19,439 |
| Movements in loans to Churches |
|
|
| Loans made |
(1,275,000) |
(250,000) |
| Loans repaid |
457,986 |
725,330 |
| Purchaseoffixed assets |
0 |
0 |
| Net cash flow from investing activities |
(699,386)! |
494,769! |
| Changeincash and cash equivalentsinthe reporting period |
(726,180) |
544,283 |
| Cashandcash equivalents at31December 2022 |
3,423,978 |
2,879,695 |
| Cash andcashequivalents at31December2023 |
2,697,798! |
3,423,978I |
| Cash and cash equivalents consists of: |
|
|
| Cashatbank and in hand |
2,697,798 |
3,423,978 |
| Cash and cash equivalentsat31December 2023 |
2,697,798! |
3,423,978! |
| 2 |
INCOME FROM DONATIONS AND LEGACIES |
2023 |
2022 |
|
|
£ |
£ |
|
Thank-offerings from Churches (see below) |
41,200 |
35,000 |
|
Church Donations |
130 |
115 |
|
|
41,330! |
35,115! |
|
Thank-offerings from Churches |
£ |
£ |
|
Andover |
0 |
10,000 |
|
Beckenham |
5,600 |
0 |
|
Chipping Sodbury |
0 |
12,000 |
|
Croes-Y-Parc |
3,000 |
0 |
|
Dumfries |
15,000 |
0 |
|
Farnworth |
0 |
3,000 |
|
Johnstone |
5,000 |
0 |
|
StMary's, Dundee |
2,000 |
2,000 |
|
Sevenoaks, Vine |
0 |
5,000 |
|
Sheringham |
10,000 |
0 |
|
Swansea, Aenon |
600 |
0 |
|
Tarporley |
0 |
3,000 |
|
|
41,200! |
35,000! |
| 3 |
INCOME FROM INVESTMENTS |
2023 |
2022 |
|
|
£ |
£ |
|
Bank Interest |
117,628 |
19,439 |
|
|
117,628! |
19,439! |
| 4 |
PROCEEDSOFULTIMATE TRUSTS |
2023 |
2022 |
|
|
£ |
£ |
|
Beulah, Rhymney |
38,327 |
0 |
|
Coxall |
16,325 |
0 |
|
Preston, Fishergate (balance) |
0 |
240 |
|
Waunarlwydd |
2,197 |
0 |
|
|
56,849! |
2401 |
| 5 |
CHARITABLE ACTIVITIES |
2023 |
2022 |
|
|
£ |
£ |
|
GeneralFund-Supportcosts |
|
|
|
Administrator's salary/fees (see note 7) |
15,792 |
14,274 |
|
Travel costs (excluding Trustee Meetings) |
1,300 |
1,084 |
|
Computer consultancy |
0 |
185 |
|
Printing, stationery, postage and telephone |
274 |
249 |
|
Bank charges |
191 |
220 |
|
Insurance |
3,704 |
3,448 |
|
General publicity |
1,201 |
20 |
|
Website |
32 |
249 |
|
Governance costs (see note 6) |
10,122 |
11,025 |
|
Depreciation on fixed assets |
0 |
919 |
|
Charitable Donations |
250
32,866I |
250
31,923j |
|
Support costs are all attributable to the charity's loan and grant making activity. |
|
|
|
Designated Fund-Grants |
£ |
£ |
|
57West & Clarence Road |
10,000 |
0 |
|
Coatbridge |
0 |
10,090 |
|
Crown Road Sutton |
10,000 |
0 |
|
Darkhouse |
12,000 |
0 |
|
Ebenezer, Coalville |
0 |
7,000 |
|
Ewhurst |
0 |
6,850 |
|
Harbour Mission, Wick |
6,500 |
0 |
|
Headland |
6,000 |
0 |
|
Mount Pleasant |
7,000 |
0 |
|
Oxgangs |
8,402 |
0 |
|
Rainham |
0 |
12,600 |
|
Somers ham |
5,000 |
0 |
|
Stradbroke |
9,476 |
0 |
|
Winter Gardens |
18,060 |
0 |
|
|
92,4381 |
36,540! |
|
|
125,3041 |
68,463! |
|
All grants were paid to Baptist Churches as contributions towards small building projects for missional |
|
|
|
activities. Without this work being carriedout, each Church would have to restrict their community ministry. |
|
|
|
CapitalFund-Grants |
£ |
£ |
|
N/A |
0 |
0 |
|
|
01 |
oj |
| 6 |
GOVERNANCE COSTS |
2023 |
2022 |
|
|
£ |
£ |
|
Trustees' Meetings (including travel costs) |
1,503 |
2,030 |
|
Audit fees (BBCIO) and Independent Examination (BBF) |
7,680 |
7,320 |
|
Legal fees |
939 |
1,675 |
|
|
10,1221 |
11,0251 |
| 7 |
EMPLOYEES |
2023 |
2022 |
|
|
£ |
£ |
|
Staff costs during the year wereasfollows: |
|
|
|
Wages and salaries |
15,332 |
13,859 |
|
National Insurance costs |
0 |
0 |
|
Pension costs (NEST - see note 22) |
460 |
415 |
|
|
1s,192I |
14,274J |
| SOCIAL INVESTMENTS |
|
|
| LOANS TO CHURCHES |
Programme related investments |
|
|
2023 |
2022 |
|
£ |
£ |
| Costat1 January2023 |
2,254,165 |
2,729,495 |
| Loans made (see below) |
1,275,000 |
250,000 |
| Loans repaid |
(457,986) |
(725,330) |
| At31December |
3,071,179! |
2,254,165! |
|
The following loans were advanced during the period:- |
The following loans were advanced during the period:- |
|
|
2023 |
2022 |
|
|
|
|
|
£ |
£ |
|
Carleton Rode |
|
|
|
40,000 |
0 |
|
Custom House |
|
|
|
435,000 |
0 |
|
Evesham |
|
|
|
400,000 |
0 |
|
Fressingfield |
|
|
|
0 |
250,000 |
|
Rayleigh |
|
|
|
400,000 |
0 |
|
|
|
|
I |
1,21s,oooI |
2so,oooI |
| 10 |
FIXED ASSETS |
Office |
|
|
2023 |
2022 |
|
|
equipment |
|
|
Total |
Total |
|
|
|
£ |
|
£ |
£ |
|
Cost brought forward |
|
1,837 |
|
1,837 |
1,837 |
|
Additions |
|
0 |
|
0 |
0 |
|
Costat31December 2023 |
|
1,837! |
|
1,837! |
1,8371 |
|
Depreciation brought forward |
|
1,837 |
|
1,837 |
918 |
|
Chargeforthe year |
|
0 |
|
0 |
919 |
|
Depreciationat31December 2023 |
|
1,837! |
|
1,837! |
1,837 1 |
|
Netbook valueat31December 2023 |
|
01 |
|
01 |
01 |
| 11 |
DEBTORS |
2023 |
2022 |
|
|
£ |
£ |
|
Other debtors |
1 |
3 |
|
Prepayments |
4,027 |
3,358 |
|
|
4,0281 |
3,361I |
|
Debtors amounting to nil (2022: nil) may not be recoverable within one year. |
|
|
| 12 |
CURRENT ASSET INVESTMENTS |
2023 |
2022 |
|
|
£ |
£ |
|
Unlisted investments |
2,218,485 |
519,226 |
|
|
2,218,4851 |
519,2261 |
| 13 |
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
|
|
|
|
2023 |
2022 |
|
|
£ |
£ |
|
Trade creditors |
1,185 |
589 |
|
Accruals and deferred income |
7,722 |
7,320 |
|
|
8,9071 |
7,9091 |
| Analysisoffundmovements2023 |
|
|
|
|
|
|
Balance |
Income |
Expenditure |
Transfers |
Balance |
|
brought forward |
|
|
carried forward |
|
|
£ |
£ |
£ |
£ |
£ |
| Unrestrictedfunds |
|
|
|
|
|
| GeneralFund |
21,423 |
158,958 |
32,866 |
(125,000) |
22,515 |
| DesignatedFund |
150,673 |
0 |
92,438 |
15,860 |
74,095 |
| Capital Fund |
5,501,499 |
56,849 |
0 |
109,140 |
5,667,488 |
|
5,673,595 |
215,807 |
125,304 |
0 |
5,764,0981 |
| Analysisoffund movements 2022 |
|
|
|
|
|
|
Balance b/f |
Income |
Expenditure |
Transfers |
Balance_elf_ |
|
£ |
£ |
£ |
£ |
£ |
| Unrestricted funds |
|
|
|
|
|
| General Fund |
23,792 |
54,554 |
31,923 |
(25,000) |
21,423 |
| Designated Fund |
67,622 |
0 |
36,540 |
119,591 |
150,673 |
| Capital Fund |
5,595,850 |
240 |
0 |
(94,591) |
5,501,499 |
|
5,687,264 |
54,794 |
68,463 |
0 |
5,673,5951 |
| Analysisofnet assets between funds 2023 |
|
|
|
|
|
General |
Designated |
Capital |
Total |
|
fund |
fund |
fund |
|
|
£ |
£ |
£ |
£ |
| Fixed Assets |
0 |
0 |
3,071,719 |
3,071,719 |
| Current assets |
31,422 |
74,095 |
2,595,769 |
2,701,286 |
|
31,422 |
74,095 |
5,667,488 |
5,773,005 |
| Current liabilities |
8,907 |
0 |
0 |
8,907 |
|
22,515 |
74,095 |
5,667,488 |
s,1s4,osaI |
| Analysisofnet assets between funds 2022 |
|
|
|
|
|
General |
Designated |
Capital |
Total |
|
fund |
fund |
fund |
|
|
£ |
£ |
£ |
£ |
| Fixed Assets |
0 |
0 |
2,254,165 |
2,254,165 |
| Current assets |
29,332 |
150,673 |
3,247,334 |
3,427,339 |
|
29,332 |
150,673 |
5,501,499 |
5,681,504 |
| Current liabilities |
7,909 |
0 |
0 |
7,909 |
|
21,423 |
150,673 |
5,501,499 |
5,673,595I |
|
At |
1 |
January 2023 |
Cashflow |
At31December 2023 |
|
|
|
£ |
£ |
£ |
| Cashatbank and in hand |
|
|
3,423,978 |
(726,180) |
2,697,798 |