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|**INDEX**|**PAGE**|
|---|---|
|Trustees'AnnualReport|1 - 8|
|IndependentAuditor'sReport|9-12|
|StatementofFinancialActivities|13|
|BalanceSheet|14|
|StatementofCashFlows|15|
|NotestotheFinancialStatements|16-25|
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||**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|
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||**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||||||
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||**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!|
|**Change**in**cash and cash equivalents**in**the reporting period**|**(726,180)**|544,283|
|**Cashandcash equivalents at31December 2022**|**3,423,978**|2,879,695|
|**Cash and**cash**equivalents at31**December**2023**|**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!|
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|**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|
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|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|
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|**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|
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|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!|
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||**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|
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|**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|
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|**Analysis**offundmovements**2023**||||||
|---|---|---|---|---|---|
||Balance|Income|**Expenditure**|**Transfers**|Balance|
||**brought forward**|||**carried forward**||
||£|£|£|£|£|
|**Unrestricted**funds||||||
|**General**Fund|**21,423**|**158,958**|**32,866**|**(125,000)**|**22,515**|
|**Designated**Fund|**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|
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|**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|
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||**At**|**1**|**January 2023**|**Cashflow**|**At31December 2023**|
|---|---|---|---|---|---|
||||£|£|£|
|Cashatbank and in hand|||3,423,978|(726,180)|2,697,798|
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