##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
|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»|
##
##
##
##