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2020-12-31-accounts

A A Ottley (Chairman) A A Ottley (Chairman) RBKing JSouthcombe
BBowen (Resigned Dec 2020) R Lindie P Smith (Appointed Oct 2020)
C JClarkson (Treasurer) SJ Lloyd AJ Wigham
A Creedy IG Miller D Wilcox
P Fuggle DI Mortimer P M Woodley
A Herman
(Passed		 away into Glory -Miss M O' Mars Mrs SWorsley (resigned July 2020)
April 2021):
B0JJones J Sayers (Appointed Oct 2020)
The princ ipal
advisers ofth		 e company are as follow s:
Registered Auditors: Jacob Cavenagh dt Skeet,
5 Robin Hood Lane, Sutton, Surtey SMI 2SW
Bankers CAF Bank Limited, 25 Kingshill
Avenue,
Kingshill,
West Mailing, Kent ME(94JQ
Investment advisers Investec Wealth and Investment
Ltd, 2 Gresham
Street,
London EC2 7QP
Principal Solicitors Carter, Lemon Camerons LLP, 10Aldersgate
Street, London, ECIA 4HJ
Edward Connor Solicitors, 10The Point, Market Harborough,
LEI6 7QU

YEA R ENDED 31 D ECEMBER 2020
2020 20/9*
Unrestricted Restricted Total Total
Funds Funds Funds Funds
No/e f f
Income from:
Donations
aud legacies		 73,813 138,782 212,595 284,274
Charitiable
activities		 47.504 2.318 49,822 57,739
Investments 78086 17 540 95626 141494
199403 100640 350043 3 5117
Expenditure
on:
Raising funds 8,484 1,188 9,672 29,758
Charitable
activities		 325 4756 194823 519879 508615
Total expenditure 333540 196011 5 950 83 3
Operating
(deficit)		 (134,137) (37,371) (171,508) (54,866)
Net (losses) / gains on investments
Realised (losses) on investments
Unrealised
gains on investments
Total net (losses) / gains on investments		 12 (91,536)
~12934
~ll
0		 (1,452)
089
44		 (92,988)
~850 8		 (33)
~353
3
Net (expenditure)
/income		 (23$,607) (17,929) (256,536) 298,365
Transfers between
funds
Net movement
in funds		 929 ~56 536 ~29
6
Reconciliation
offunds:
Funds brought
forward
Funds carried forward		 4
.
629349
7.376.7». 70.34
65085«»». 0.
7 76»

«4(naiysis offinancial aclivilies for previous year: 2019
Unreslncle6/ Resrri cled 20I9
Funds Funds Torsifunds
f f f
Income and endowments
from:
Donations
and legacies		 126,169 158.105 284.274
Charitable
activities		 52,603 5,136 57,739
Investments 4 141494
Total income and endowments 300176 183331 403507
Expenditure
on:
Raising funds
Charitable
activities
Total expenditure		 28,561
345547
3
08		 1.197
163068
~5		 29,758
508615
5»»
Operating
(deficit) / surplus		 (73,932) 19,066 (54,866)
Net gains /(losses) on investments:
Realised (losses) / gains on investments (37) 4 (33)
Unicalised
gains on investments		 348 283 4981 353264
Total net gains on investments 348 46 4 900 353 231
Net income 274,314 24,051 298,365
Transfers
between
funds		 87,597 (87,597)
Reconciliation
offunds:
Funds brought
forward
Funds carried forward		 6,38,452
~6		 692 895
"		 7.376 712

AT 3)STDECEM BER 2020
2020 2019
Note f
Fixed assets
Tangible
assets		 Il 2,876, 171 2,880,500
(nvestments 12 3 56. 4.053.428
6.833,141 6,933,928
Current
assets
Loans 13 13,200 16,785
Debtors 14 22,034 35.635
Cash deposited
with		 Grace Baptist Charities Ltd 309,055 438,018
Cash
in hand		 318 364
Total Current assets 344.607 490,802
Liabilities
Creditors: Amounts falling due within one year:
Other creditors 57 72 48018
Net current
assets		 87 3 78
Total net assets 17 7 120.176 7.3767
The funds ofthe charityt
Unrestricted
funds		 15 5.808,756 6.007.363
Revaluation
Reserve		 (unrestricted) 700,000 740 000
Total Unrestricted Funds 6.508,756 6.747.363
Restricted
funds		 16 423, 188 462,785
Revaluation
reserve		 (restricted) 188,232 06
Total restricted
funds		 611,420 629,349
Total funds 17

2020 20/9
Statement ofcash flows: To/nl Furwls Total Funili
Table
Cash flows from operating
activities:
Net cash provided
by (used in) operating		 activities 'I ~I'4 .
Cash tlows from investing
activities:
Dividends,
interest and rent from investments		 81,982 116.275
Purchase ofproperty
and equipment		 i3,397) (26,237)
Proceeds from sale ofother investments 6,066 200.000
Proceeds from sale ofinvestments
Purchase ofinvestments		 336,437
~43 3."		 197,277
Net cash provided
by (used in) investing		 activities 2
Change
in cash and cash equivalents		 in the reporting period (129,009) 155,460
Cash and cash equivalents
at the beginning		 ofthe reporting period 438.382 282.922
Cash and cash equivalents
at the end		 of the reporting period B 0937 4 030
Table A - Reconciliation
ofnet income /		 (expenditure) to net cash flow
from operating
activities:		 2020f 20/9
f
Net (expenditure)
/ income for the reporting		 period (as per
the statenient oftinancial
activities)		 (256,536) 298.365
Depreciation
charges		 7,726 3,032
Equipment
reclassified as expenditure		 161
(Gains) / losses on investments 85,028 (353,231)
Dividends,
interest
and rent from investments		 (81,982) (116,275)
(Increase)
/ decrease
in debtors		 17,186 4,871
Increase
/ (decrease)
in creditors
Net cash provided
by (used in) operating		 activities 3.487
~2.094		 20,142
~4.
Table B - Analysis ofcash and cash equivalents:
Cash in hand 318 364
Cash
in hand with Grace Baptist Charities Ltd		 309,055 438,018
Total cash and cash equivalents 3 93 3 3038

2 INCOME FROM DONATIONS FROM DONATIONS 44I LEGACIES 2020 2020 2020 2019
Unrestricted
f		 Restricted
f		 Total Totalf
Donations from churches 26,229 20,380 46.609 51,658
Other donations 393 21,564 21,957 23,900
Grant fi.om Grace Baptist Charities Ltd 47.191 47.191 46.407
Other grants received 87,380 87,380 162,291
JRS Grant - Furlough 9.458 9,458
Legacies 718 3 3878» 2595 18
284.274
3 INCOME FROM CHARITABLE ACTIVITIES
Rent received
from tangible
assets
Income from other charitable
activities		 35,156
.4»1		 35.156
.		 36.317
21422
5 3 57,739
4 INCOME FROM INVESTMKNTS 2020 2020 2020 2019
Unrestricted Restricted Total Total
f f f
Investments listed on recognised stock exchange 68,944 2.110 71,054 97,021
Investments properties
- regular income		 6,731 12,600 19.331 37.528
Deposit interest 41 2.830 6.945
78086 17540 95 626 141.494
5 EXPENDITURE ON RAISING FUNDS 2020 2020 2020 2019
Unrestricted Restricted Total Total
f f f
Investment property expenditure (2.526) 532 (1,994) 17,467
Investment management 11.010 656 11.666 12.291
44 . 967 2978

6 EXPENDITURE ON CHARITABLE EXPENSES EXPENDITURE ON CHARITABLE EXPENSES EXPENDITURE ON CHARITABLE EXPENSES EXPENDITURE ON CHARITABLE EXPENSES EXPENDITURE ON CHARITABLE EXPENSES EXPENDITURE ON CHARITABLE EXPENSES 2020 2020 2020 2020 2020 2019
Llnrestricted Restricted Total Total
Note f f f
Staff Costs 7 16G.940 90,914 257,854 2G3,9G9
Property expenditure 56.677 24,412 81.089 115.281
Grants payable
Churches
and institutions		 24.379 60,235 84.614 35.032
Individuals 4G,241 14,630 60,871 49,841
Home Mission costs exc. Personnel 802 802 13.769
Office and stationery costs 12,445 1,852 14,297 13,649
Photocopier
costs including		 rentals 2, 173 2,173 2.180
Depreciation 7,726 7,726 3,032
Website &publications 50 50 431
Management
charge		 20 20 43
Trustee's
indemnity		 insurance 863 863 863
Bank charges & interest 110 186 296 469
317 604 193 051 510655 498 559
Governance
costs:
Legal and professional fees 1,857 1,857 225
Auditors'
fees		 10 4,472 4,472 3,150
Costs ofmeetings 1,123
f 2		 1,772
1,772		 2,895
9,224		 6,681
10,056
Total Expenditure on charitable activities 194 823 519,879 508,615
7 STAFF COSTS 2020 2019
Total staff emoluments for the year were as t'ollows: f
Salary Costs 217.000 225.577
National
Insurance
costs		 16,138 11,170
Employer's
pension		 contributions 16.061 16.111
Benefits
in kind- season tickets		 3,107 5.435
Other staff travel etc. 4,020 4.533
Staff training & conferences ),528
257.854 263.969
There were no pension contributions outstanding at year end. (2019.nil). No employee received remuneration amounting
to more than f60,000 in the current year or previous year
The average number ofstaff by hend count and I'ull-time equivalent during the year was:
2020 2020 2019 2019
Head Count Fte Head Count Fte
Ave. No Ave. No Ave. No Ave. No
Association
office staff		 7.0 3.9 8.0 4.6
Home Mission staff 3.0 2.4 3.0 2.4
Total staff I0.0 6.3 11.0 7.0

8 KEYMANAGEMENT
PERSONNE		 KEYMANAGEMENT
PERSONNE		 KEYMANAGEMENT
PERSONNE		 L L
The key management
personnel
for the		 Association are Association Secretary: Director ofHome Mission: Company
Secretary and Finance Officer. The total employee bene tits received by these personnel were:
2020 2019
f f
Salary costs 135.311 130.393
National
Insurance
costs		 14,076 13,075
Employer's
pension
contribution		 11,617 12,062
Benefits
in kind		 883 816
IM 156 346
9 GRANTS PAYABLE 2020 2020 2020 2019
Unrestricted Restricted Total Total
Grants payable to churches
and		 institutions: f f f
Affinity 5,254 5,254 5,000
Hayes Lane Baptist Church. Bromley 4,862 4,862 14,231
St.John's Wood Road Baptist Church 49,773 49,773 4,463
Gadebridge
Baptist Church		 5,000 5,000
Grace Baptist Mission 400 400
Grace Baptist Church,
Stratford		 1,920 1,920
Grace Church,
Walthamstow		 495 495
Kent Gospel Partnership 200 200
Rehoboth Baptist Church,
Horsham		 (Training) 4,225 4,225
Prettygate
Baptist Church, Colchester		 (Training) 3,235 3,235
Small Training
Grants
( Churches		 Aid Fund) 1,250 1,250 838
Grace Baptist Church, Bexleyheath 2,500 2,500 6.000
Grace Baptist Church,
Tottenham		 4.500
Monnow
Road Baptist Church, Bermondsey		 3,000 3,000
The Village Church,
Greenwich		 2 500 2.500
24 379 60 235 84 614 35 032
All grants to churches
and institutions		 are either approved by the trustees or are reported to the trustees, if being made in
accordance
with the terms ofa restricted		 t'und. The Grants are made for the purposes ofsupporting member churches
with
building
repairs or specific projects.
Grants payable to individuals: 2020
f		 2019
f
Training
Fund - unrestricted
(6grants)		 45,591 38,351
Churches
Aid Fund - unrestricted		 (4 grants) 650 250
Benevolent
Fund - restricted (6grants)		 5,675 2,690
Pastors' Retiring
db Widows'
Fund		 - restricted (9 beneficiaries) 8,955 8.550
4984

10 AUDIT, INDEPENDEN T
EXAMINATIO		 N
AND OTHE		 R FINANCI AL S ERVICES FE ES
The company's
auditors		 made the Following charges: 2020 2019
f
Fee lbr audit ot'accounts 4,440 3,120
Fee for other services 32 30
11 TANGIBLE ASSETS
Held in futherance ofthe charity's objects. Fixtures,
Freehold Leasehold fittings and
property
f		 property
f		 equipment Totalf
Market Value
/ Cost
At 1stJanuary 2020 2,538,428 315,600 37,815 2,891,843
Dispose)a
Additions		 397 337
At 31stDecember 2020 2 538.428 315600 41,212 2.895.240
Depreciation
At 1stJanuaiy 2020 11,343 11,343
Disposals
Additions 7 726 7 726
At 31stDecember 2020 69 19669
Net book value
At 31stDecember 2020 2.538.428 315.600 22.143 2.876.171
At 31stDecember 2019 4»1 68 6
12 INVESTMENTS 2020 2020 2020
Investment Quoted Total
properties
f		 investments
f		 f
Market value at 1st January 2020 ).526.364 2.526.864 4.053.428
Additions 325,006 325,006
Disposals (429,424) (429.424)
Unrealised
(losses) / gains
Market value at 31stDecember 2020		 26,792
.3 7.»» 44 .-38		 7.960
393697
At Cost
As at 31stDecember 2020		 4» 394 23 876
IO
As at 31stDecember 2019 48»3 394 28 876
IO

Loans are interest free and repayable Loans are interest free and repayable within ten years.
Included		 within loans is approximately f9,690 repayable after more
than one year
2020
f		 20/9f
14 DEBTORS
Debtors 21.878 30.590
Prepayments 156 5,045
22 03
Brought Carried
Income Expenditure Transfers Other Gains forward forward
15 UNRESTRICTED FUNDS 2020f 2020f 2020f / (Losses)
f		 I/I/2020
f		 31/12/2020
General
Fund		 199,401 (267,898) (104,470) 6,132,269 5,959,302
Churches
Aid		 Fund (11,820) 100,121 88,301
Training
Fund
Walthamstow		 Manse 199. 03 (53,051)
~77		 ~0» 53,204
461,769
47363		 153
461.000
6.308.736
Figures for previous yearfor comparison
Brought Carried
Income Expenditure Transfers Other Gains forward forward
2019 2019
f		 2019
f		 2019
f		 / (Losses)
f		 I/I /2019
f		 31/12/2019
f
General
Fund
Churches
Aid
Training
Fund
Walthamstow		 Fund
Manse		 250,144
50,000
32
100 7		 (321.564)
(11.588)
(38,351)
~3
~374. 08		 87.597
.|348,246
3		 m85&,44s
24.112
41,555
464.342
8
3		 6,132,269
100.121
53,204
461.769
6.747861