## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## |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| ## ## ## ## ## ## ## ## ## ## ## ## ## ##