OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2021-12-31-accounts

Structure, Governance
and Management		 Structure, Governance
and Management
The Association
was constituted
on
10th March
1871. The Association
is registered		 as a charity under reference number
276352.
The Committee
The following
extracts are taken
from the Constitution
and Rules ofthe Association.
7. 1 The Committee
are charity trustees ofthe Association
and its property
and funds.
7.2 The Committee
when complete consists of
7,2 I twenty
elected
members
elected
in accordance
with
this clause or such
other policies
and		 procedures as may be
adopted
from time to time.
7 2 2 the District Representatives
72 3 the Treasurer
7.3 Up to 3 persons,
who shall not be trustees or have any voting
rights, may be co-opted by and		 to the committee for the
period
up to the next AGM.
7,4 Election to Committee
membership
is open to any individual
who is a member		 ofa Member church and approved for
election by that Member church. Notwithstanding
clause 7.1.an employee
ot'		 the Association may be a member of the
Committee
tv ith the prior written
consent ofthe Charity Commission.
7 6 The election ofCommittee
members
is by secret ballot.
7.6 No person
shall
be an elected member
unless
the number
ot'votes
he or she		 receives equals or exceeds the number
which
is one third of the Messengers
(from Member churches)
present at the relevant
AGM.
7.7 Subject to clause 7.9 the election or appointment
ofeach Committee
member		 (except co-optees) shall be for a tenn of
three &ears. Cominiuee
members
shall (ifotherwise
qualitied)
be eligible for re		 election or reappointment as from the
mid ofsuch term.
7.8 Every Committee
member
must sign a declaration ofwillingness
to act as a charity
trustee of the Association		 before he
or she is eligible
to vote at any meeting ofthe Committee.
7.13 The membership
of (he Committee
shall
so far as possible
(and consistent		 with
the		 above provisions) be balanced
equally
between
individuals
in full time pastoral
or other Christian
ministry
and individuals		 from other backgrounds,
especially
those ivith experience of property,
financial,
legal and administrative		 matters, that is to say individuals who
are or have been engaged
in a profession,
business ortrade.

202/ 2//20*
Unrestricted Restricted Total Total
No/e Funds
f		 Fundsf Funds
f		 Funds
Income from:
Donations
and legacies		 144,602 130,732 275,334 2(2.5411
Charitiable
activities		 24.854 2.072 26.976 49.822
Investments 89,986 16,688 106,674 95.626
Other Income: Surplus on sale offixed asset 132,783 132.783
Total Income 392 225 14
492		 541. 17 3511,11 3
Expenditure
on:
Raising funds 14,560 1.212 15,772 9,672
Charitable
activities
Total expenditure		 38
459		 232,599
23301		 600,498
6 6»		 519,879
Operating
(deficit)		 9,766 (84,319) (74,553) (171,508)
Net gains /(losses) on investments
Realised gains
/ (losses) on investments
Unrealised
gains on investments
Total net gains
/ (losses) on investments		 12 37,355
64
43
5		 8,233
~2.350
5803		 45,588
IS,893
0
483		 (92,987)
7
~05.028
Net income
/ (expenditure)		 211,364 (78,436) 132,928 (256,536)
Transl'ers
between
funds
Net movement
in funds		 ~4»» ~56536
Reconciliation
offunds:
Funds brought
forward		 0 7. 1
117		 7.37 .I I
Funds carried forward 68 » 6»3
3		 »
4		 7 2*3.134

— —
"Anolys/s offinanc/ol oclivilies forprevious year s 2020
Unreslricred Resrr/cled 2020
Funds Funds Foso/funds
f f
Income and endowments from:
Donations
and legacies		 73,813 138.782 212,595
Charitable
activities		 47,504 2,318 49,822
Investments 781106 7540 95.626
Total income and endowments 099 403 158640 4
Expenditure
on:
Raising funds $,484 1,188 9,672
Charitable
activities		 325 056 194 823 519879
Total expenditure 333 540 1960 5 955
Operating
(deficit)		 (134,137) (37,371) (171,50$)
Net gains /(losses) on investments:
Realised (losses) on investments
Unrealised
(losses) / gains on investments
Total net (losses) / gains on investments		 (91,536)
~4
~ill ~4 0		 (1.452)
20 894
9442		 (92,988)
~85.DX8
Net (expenditure) (238,607) (17,929) (256,536)
Transfers
between
funds
Reconciliation
offunds:
Funds brought
forward		 6 747 363 629.349
Funds carried forward 7 110 1 6

AT 31STDECEM BER 2021
A(ate 2021
f		 2020f
Fixed assets
Tangible assets II 3,913.802 2,876.1 7 1
Investments 12 3 011.678 3 956,970
6,925,480 6,833,141
Current
assets
Loans 13 2.660 13,200
Debtors 14 18.337 22.034
Cash deposited
with		 Grace Baptist Charities Ltd 354,504 309,055
Cash
in hand		 313 318
Total Current assets 375,814 344,607
Liabilities
Creditors: Amounts falling due within one year:
Other creditors 15 48,190 57,572
Net current assets 6 4 287 035
Total net assets 18 7253
04		 7 20 176
The funds ofthe charity:
Unrestricted
funds		 16 6,720,120 5,808.756
Revaluation
Reserve		 (unrestricted) 700 000
Total Unrestricted Funds 6,720,120 6,508,756
Restricted
funds		 17 344,752 423.188
Revaluation
reserve		 (restricted) 188,232 188 3
Total restricted
funds		 532,984 611.420
Total funds 18 7,253,104 7 120 176

ZOZ/ ZOZO
Statement ofcash flows: To/til Faut/s Total Faut/2
Table f
Cash flows from operating
activities:
Net cash provided
by (used in) operating		 activities \20L3
11		 ~5,09
Cash flows from investing
activities:
Dividends,
interest
and rent I'mm investmenis		 90.289 81,982
Proceeds from sale ofproperty 5(4,7(8
Purchase ofproperty
and equipment		 (1,429,012) (3.397)
Proceeds from sale ofother investments 1,150,000 6,066
Proceeds fram sale ofinvestments
Purchase ofinvestments		 504,760
~51.984		 336.437
~325.006
Net cash provided
by investing
activities		 771 96.082
Change
in cash and cash equivalents		 in the reporting period 45,444 (129,009)
Cash and cash equivalents
at the beginning		 ofthe reporting period 309,373 438.382
Cash and cash equivalents
at the end		 of the reporting period B 54 817 309 3 3
Table A - Reconciliation
ofnet income		 / (expenditure) to net cash flow
from operating
activities:		 2021
f		 2020
f
Net income
/ (expenditure)
for the reporting		 period (as per
the statement offinancial
activities)		 132,928 (256,536)
Depreciation
charges		 8,109 7,726
Equipment
reclassified
as expenditure		 (ie. written off) 1.336
(Gains) / losses on investments (207.481) 85.028
Dividends,
interest and rent from investments		 (90,289) (81.982)
Prolit on sale offixed assets (132.783)
Decrease
in debtors		 14,237 17.186
(Decrease) / increase
in creditors		 3,487
Net cash provided
by (used in) operating		 activities ~103.3»
Table B- Analysis ofcash and cash equivalents:
Cash in hand 313 318
Cash
in hand with Grace Baptist Charities		 Ltd 354,504 309.055
Total cash and cash equivalents 4.11 7 309 3 3

2 INCOME FROM DONATIONS FROM DONATIONS FROM DONATIONS 4fi LEGACIES 2021 2021 2021 2021 2020
Unrestricted Restricted Total Total
f f
Donations from churches 34.564 19,326 53.890 46.609
Other donations 1,660 17,368 19.028 21,957
Grant from Grace Baptist Charities Ltd 58.378 58.378 47.191
Other grants received 50,000 88,518 138,518 87,380
JRS Grant - Furlough 144 602 5.520
3073»		 5.520
5 334		 9,458
» 59
3 INCOME FROM CHARITABLE ACTIVITIES
Rent received from tangible assets 23,237 23,237 35,156
Income from other charitable activities 1 617 2.072 3 689 14.66
24 854 9 98»
4 INCOME FROM INVESTMENTS 2021 2021 2021 2020
Un restricted Restricted Total Total
f f f
Investments listed on recognised stock exchange 80.147 2.446 82.588 71.054
Investments properties - regular income 125 12,600 12.725 19,331
Deposit interest 9.719 1.642 11.361 5.241
89986 6.688 06 67 62
5 EXPENDITURE ON RAISING FUNDS 2021 2021 2021 2020
Unrestricted Restricted Total Total
f f f
investment property
expenditure		 2,547 551 3,098 (1.994)
Investment management 12,0(3 661 12,674 11,666
14.560 1.212 15772 9 672
6 EXPENDITURE ON EXPENDITURE ON EXPENDITURE ON EXPENDITURE ON CHARITABLE EXPENSES CHARITABLE EXPENSES CHARITABLE EXPENSES CHARITABLE EXPENSES CHARITABLE EXPENSES 2021 2021 2021 2021 2021 2021 2020
Unrestricted Restricted Total Total
Note f f f f
Staff Costs 7 191,384 77.128 268,512 257,854
Property expenditure 65.109 27. 154 92.263 81.089
Grants payable
Churches
and institutions		 28.167 112.197 140.364 84.614
Individuals 39,169 11,410 50,579 60,871
Home Mission costs exc. Personnel 2.303 2.303 802
Office and stationery costs 21,245 2,360 23,605 14,297
Photocopier costs including rentals 2,363 2,363 2,173
Depreciation 9,445 9,445 7,726
Website & publications 50
Management
charge		 20 20 20
Trustee's
indemnity		 insurance 863 863 863
Bank charges & interest 290 27 317 296
358
5		 232.599 5
Governance
costs:
Legal and professional fees 1,857
Auditors'
fees		 10 4,592 4,592 4,472
Casts ofmeetings 5272 2,895
9 864 9864 9224
Total Expenditure on charitable activities 367 899 232 599 600,498 519,879
7 STAFF COSTS 2021 2020
Total staff emoluments for the year were as follotvs f f
Salary Costs 222.777 217.000
National
Insurance		 costs 17.159 16.138
Employer's
pension		 contributions i7.208 i6.06 i
Benefits
in kind- season tickets		 1.520 3,107
Other staff travel etc.
Staff training & conferences		 8.197
6"		 4.020
528
68.5
There were na pension contributions outstanding at year end. (2020:nil). No employee received remuneration amounting
to
more than f60 000 in the current & ear ar previous year. Included in salary costs above is a termination payment off12528
in lieu ofnotice.
The average
number		 of staff by head count and full-time
equivalent		 during
the year was:
2021 2021 2020 2020
Head Count Fte Head Count Fte
Ave. No Ave. No Ave. No Ave. No
Association office staff 7.0 4.2 70 3.9
Home Mission staff 3.0 1.4 3.0 2.4
Total staff 10.0 5.5 10.0 6.3

Secretary and Finance OBicer. Th e tota l employee benetits
rece		 ived
by these pers		 onnel
irere.
2021f 2020
f
Salaiy costs 137,332 135,311
National
Insurance
costs		 15.014 14,076
Employer's
pension
contribution		 10.726 11,617
Benefits
in kind		 150 883
163223 16
887
9 GRANTS PAYABLE 2021 2021 2021 2020
Unrestricted Restricted Total Total
Grants payable to churches
and		 institutions: f f
Affinity 5,254 5,254 5,254
Hayes Lane Baptist Church. Brom icy 11,152 11.152 4,862
St. John's Wood Road Baptist Church 56,978 56,978 49,773
Gadebridge
Baptist Church		 5,000
Grace Baptist Mission 400
Grace Baptist Church,
Stratford		 1,920
Grace Church, Walthamstow
(Churches		 Aid Fund) 5,000 5,000 495
Kent Gospel Partnership 200
Rehoboth Baptist Church,
Horsham		 (Training) 5,785 5,785 4,225
Prettygate
Baptist Church, Colchester (Training)		 2,850 2,850 3,235
Prettygate
Baptist Church, Colchester (Churches		 Aid Fund) 5,000 5,000
Kings Road Baptist Church, Chingford (Churches Aid Fund) 4.000 4,000
Small Training
Grants
( Churches		 Aid Fund) 1,250
Grace Baptist Church,
Bexleyheath		 2,500
Grace Baptist Church, Ebbstleet 247 44.068 44.314
Monnow Road Baptist Church,
Bermondsey		 3,000
The Village Church,
Greenwich
28,136 112 197 140333 84 614
Grants payable to individuals: Grants payable to individuals: 2021
f		 2020
f
Training
Fund - unrestricted		 (4grants) 38,699 45,591
Churches
Aid Fund - unrestricted		 (2grants) 470 650
Benevolent
Fund - restricted		 (5grants) 2,275 5,675
Pastors' Retiring &Widows' Fund - restricted (9 beneficiaries) 9 135 8 955
50579 60 87

The company
s auditors		 niade the I'ollou:ina charges: 2021f 2020
f
Fee for audit ofaccounts 4,560 4,440
Fee for other seivices 32 32
4.592 4.472
11 TANGIBLE ASSETS
Held in futherance ofthe charity's objects: Fixtures,
Freehold Leasehold fittings and
property
f		 property
f		 equipment Total
f
Market Value / Cost
At 1st January 2021 2,538,428 315,600 41,211 2,895,239
Disposals
Additions		 (381,935)
1427»		 (6,277) (388,212)
4»»
At 31stDecember 2021 3,583,705 315,600 36.734 3 936.039
Depreciation
At 1st January 2021 19,068 19,068
Disposals (4,941) (4,941)
Additions 8 8 110
At 31stDecember 2021 22,237 22 237
Net book value
At 31stDecember 2021 3 %3 705 315.600 4.4 7 3.9 3 80
At 31stDecember 2020 2 538 428 31:,600 22 143 2.876.1'/1
12 INVESTMENTS 2021 2021 2021
Investment Quoted Total
properties
f		 investments f
Market value at 1st January 2021 1,507.732 2,449.239 3.956.971
Aililluoiis 501,984 501,984
Disposals (1.150.000) (459,171) (1.609.171)
Unrealised
(losses) / gains
Market value at 31stDecember 2021		 161 894
161894
35773».
.4»1 . 7
At Cost
As at 31st December 2021 169500 394 285 3
8
As at 31stDecember 2020 8»5 4 876 410

202/ 2(/20
f
14 DEBTORS
Other Debtors 16.513 21.878
Prepayments 1,824
156
18337».
4
15 CREDITORS 202/f 2020
Other creditors 48,190 57,572
48.190 57.572
Brought Carried
Income Expenditure Transfers Other Gains forward forward
16 UNRESTRICTED FUNDS 2021
f		 2021
f		 2021
f		 /(Losses)
f		 I/I/2021
f		 31/I2/2021
f
General
Fund		 341,740 (320,655) (25,000) 201,598 5,959,302 6,156,985
Churches
Aid		 Fund 485 (14.470) 25.000 88.301 99.316
Training
Fund		 50,000 (47,334) 153 2,819
Walthamstow Manse 461 000 461 000
201398 6. 00.736 6720. 1
Figures for previous yearfor comparison
Brought Carried
Income Expenditure Transfers Other Gains forward forward
2020 2020
f		 2020
f		 2020f /(Losses) I/I /2020
f		 31/12/2020
f
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 199 403 (53,051)
~77 4
333,540		 53,204
46
769
153
46»
73«8.»6

202I 202/ 202I 202I
18 ANALYSIS OF NET ASSETS Timgible Nel cnrrent
Investments nssels assets Total
Currenlyeor f f f
Unrestricted Funds 2.594,527 3,913.802 211.791 I3,720.12i)
Restricted Funds 7 115,833 532.984
3 OII 678 3 913 80 327624
2020 2020 2020 2020
Tangible Nel current
Figures for previous yearfor comparison Inveslmenls
f		 assets assets Total
f
Unrestricted Funds 3,640,928 2,880.500 225,935 6.747,363
Restricted Funds 4» 6293 9
4 0
3 428		 44» I 376»