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2022-12-31-accounts

The Committee The Committee
The folloiving
extracts are taken
fiom the Constitution
and Rules ofthe Association:
7. 1 The Committee
am charity tnistees ol'the Association
and its propeny
and		 funds.
7.2 The Committee
when complete consists of
7.2.1 nventy elected members
elected in accordance
vrith this clause or such other policies and procedures		 as may be adopted from
tinie to time.
7.2.2 the District Representatives
7.2.3 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.
7N Election to Committee
membership
is open
to any
individual
who
is a		 member
of a Member		 church and approved for
election
bt
that Member
church.
Notnithstandmg
clause 7.1. an employee
of		 ttic Association ma& be a member of the
Committee
with the poor wrilten
consent ofthe Charity Connnission.
7 5 The election ofCommittee
members
is by secret ballot.
7 6 No person
shall be un elected member
unless
the number
et'votes
he or she receives equals or exceeds		 the number
which		 is
one third ot' the Messengers
(I'rom Member churi:hes) present at the relevant		 ACiM.
Sub)act to clause 7.9 the election or appointment
ofeach Committee
member (except co-optees) slmll		 be for a term ofthree
&ears. Coiuinniee
members
shall (ifothenvise
qualitied)
be eligible
For re electnin		 or re appoinnrnent as I'rom the end ofsuch
ieivi1.
7 8 EvetT Committee
member
must sign a declaration ofvvillingness
to act ns a		 climit& trustee ofthe Association before he or she
is eligible to vnte at any meeting ofthe Committee.
7.1 Thc 11minbership
of the Committee
shall so far as possible
(and consistent		 vvith the above provisions) bc balanced equall&
between
individuals
in full time pastoral or other Christian
ministry
and individuals		 from other backgrounds. especial)& those
ivith
experience
of property.
financial,
legal
and
administrative
matters.		 that is to say individuals ivho are or have been
engaged
in a profession,
business or trade.

1011 202/*
Unrestricted Restricted Total Total
iVo/e Fundsf Fundsf Funds Funds
f
Income ftvtm:
Donations
and legacies		 124,601 99,387 223,988 275,334
Charitiable
activities		 26.166 26,166 26.926
Investments 68.506 15.585 84.091 106,674
Other Income: Surplus on sale offixed asset 733
Total Income 219273 114972 334245 541,717
Expenditure
on:
Raising funds
Charitable
activities		 12,789
340,823		 1,380
Ir		 14.169
4		 15,772
Total expenditure
Operating
(deficit)		 (134,339) (43,917) (178,256) (74,553)
Net (losses) / gains on investments
Realised gains on investments
Unrealised
(losses) / gains on investments		 12 11,750
~34 3!		 1,138
»4		 12,888 45,589
161 892
Total net (losses) / gains on investments
Net (expenditure)
/ income		 (503,894) (41,605) (545,499) 132,928
Transfers
between
funds		 (4,569) 4,569
Net movenient
in funds		 132928
Recunciliation
offunds:
Funds brought
foiward		 6.720.120 532 984 7 253 104 7 120176
Funds carried forward 7,253,104

'
+Nrraiysis offirraacitri acti viti esforprevious year. —2021
Unrestr/cted Restr/cted 202/
Furrdsf Fendsf Totutfuttds
f
Income and endowments
from:
Donations
and legacies		 144,602 130,732 275,334
Charitable
activities		 24,854 2,072 26.926
Investments 89.986 16.688 106.674
Other Income: Surplus
on sale offixed asset
Total income and endowments		 132783 4
4		 132,783
5»
Expenditure
on:
Raising funds 14.560 1,212 15,772
Charitable
activities		 367 899 232599 600498
Total expenditure
Operating
surplus
/ (deficit)		 9,766 (84,319) (74,553)
Net gains
/ (losses) on investments:
Realised gains on investments 37,355 8,233 45,588
Unrealised
gains / (losses) on investments
Total net gains on investments 201,598 5.883 2074$1
Net income/(expenditure) 211,364 (7$,436) 132,928
Transfers
between
funds
Reconciliation offunds:
Funds brought
forward
Funds carried fomvard

2022 2021
IVate f
Fixed assets
Tangible assets II 3,909,164 3.913,802
Investments 12 2.632.912 3.011.678
6,542,076 6,925,480
Current
assets
Loans 13 2,660 2,660
Debtors 14 18.589 18.337
Cash deposited
with		 Grace Baptist Charities Ltd 182.901 354,504
Cash in hand 325 313
Total cirrrent assert 204,475 375,814
Liabilities
Creditors: Amounts falling due within one year:
Other creditors 3 8 9
Net current assets 165,529 u
Total net assets 18 7.253.104
The funds ofthe charityi
Unrestricted
funds		 6,211,657 6,720,120
Revaluation
Reserve		 (unrestricted)
Total unrestricted funds 6,211,657 6,720,120
Restricted
funds		 17 297,302 344,752
Revaluation
reserve		 (restricted) 198.646
Total restricted
funds		 495,948 532,984
Total funds 18 6,707.605 7.253,104

2011 202/
Statement ofcash llows: Total Funds Total Funds
Table f f
Cash flows from operating
activities:
Net cash provided
by (used in) operating		 activities A .2
Cash llotvs from investing
activities:
Dividends.
interest
and rent fmm investments		 70.099 90.289
Proceeds from sale ofproperty 514,718
Purchase ofproperty
and equipment		 (4,373) (1,429,012)
Proceeds from sale ofother investments
Proceeds from sale ofinvestments
Purchase ofinvestments
Net cash provided
by investing
activities		 ( I )
633,984
~(». 62
77,249		 1,150,000
504,760
~(t. 2
328,771
Change in cash and cash equivalents
in		 the reporting period (171,591) 45,444
Cash and cash equivalents
at the beginning		 ofthe n:porting period 2»
Cash snd cash equivalents
st the end ofthe reporting		 period B
Table A - Reconciliation
ofnet income /		 (expenditure) to net cash Ilaw
from operating
sctivitiesi		 2022
f		 202/f
Net (expenditure)
/ income for the reporting		 period (as per
the statement offinancial
activities)		 (545,499) 132,928
Depreciation
charges		 $,756 8, 109
Equipment
reclassitled
as expenditure
(ie.uvitten oft)		 255 1,336
(Gains) / losses on investmcnts 367,243 (207,4$1)
Dividends,
interest and rent from investments		 (70,099) (90,289)
Profit on sale offixed assets (132.783)
(Increase) / decrease
in debtors
(Decrease) in creditors
Net cash provided
by (used in) operating		 activities (252)
14,237
~7~22 .*'
7
Table B - Analysis ofcash and cash equivalents:
Cash in hand 325 313
Cash in hand with Grace Baptist Charities Ltd 182.901 354.504
Total cash snd cash equivalents

INCOME FROM DOIVATIONS &LEGACIES 2022 2022 2022 2021
Unrestricted
f		 Restricted
f		 Totalf Total
f
Donations from churches 57,335 250 57,585 53,890
Other donations 5.875 4,314 10.189 19.028
Grant from Grace Baptist Charities Ltd 61,391 61,391 58,378
Other grants
received		 94,823 94,823 138.518
Job Retention
Scheme Grant		 - Furlough 5520
124601 99387 223 988 275 334
INCOME FROM CHARITABLE ACTIVITIES
Rent received from tangible assets 19,056 19,056 23,237
Income fiom other charitable activities 7
26 166
INCOME FROM INVESTMKNTS 2022 2022 2022 2021
Unrestricted Restricted
f		 Totalf Total
f
Investments listed on recognised stock exchange 66,560 1,694 68,254 82,588
Investments properties - regular income 125 12.768 I2.893 12.725
Deposit interest I,g21 I 123 2,944 II 361
68.506 15.585 84.091 106.674
EXPENDITURE
OX RAISIVG FUNDS		 2022 2022 2022 2021
Unrestricted
f		 Restricted
f		 Total
f		 Totalf
Investment propeity
expenditure		 1,991 812 2,803 3,098
Investment management 12 674
12789 1.380 14.169 15,772

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 EXPENDITURE ON CHARITABLE EXPENSES EXPENDITURE ON CHARITABLE EXPENSES 2022 2022 2022 2022 2021 2021 2021
Note Unrestricted
f		 Restricted
f		 Tutu(f Totalf
Staffcosts 7 189,106 47,9(2 237,0IS 268,512
Properly
expenditure		 28,516 24,637 53.153 92,263
Grants payable
Churches
and institutions		 55.747 61,4(3 117.160 140.364
Individuals 22,600 16,486 39,086 50,579
Home Mission costs exc. Personnel 2,131 2,131 2,303
Office and stationery
costs		 16,406 1,958 18,364 23,605
Photocopier
costs including		 rentals 1,990 1,990 2,363
Depreciation 9,011 9,011 9,445
Website and publications 210 210
Provision ofconferences and training 7,830 7,830
Management
charge		 20 20 20
Trustees'
indemnity
insurance		 877 877 863
Bank charges and interest 231
»4		 154557 231 317
590634
Governance
costs:
Legal and professional
fees		 607 2,952 3,559
Auditors'
fees
Costs ofmeetings		 10 4,715
2,977
8,299		 4,715
77
.95»
r		 4,592
Total Expenditure
on charitable		 activities 34(1,823 157.509 498332 600 498
7 STAFF COSTS 2022 2021
Total statemoluments
for		 the year were as follows: f f
Salary costs 197,779 222.777
National
Insurance
costs		 14,354 17,159
Employer's
pension
conuibutions		 21.491 17,208
Benefits in kind - season tickets 1,131 (,520
Other staif travel etc. 4,271 8,197
Staff training
and conferences		 2.992 1.650
237,018 268,511
There were no pension
contributions		 outstanding at year end. (2021:nil).No
employee		 received remuneration amounting to more
than f60.000 in the current &ear or previous year. Included in salary costs fo
r2021		 above is a termination
payment		 off12,528 in
lieu ofnotice.
The average
number ofstatf by head		 count and full-time equivalent during the year was:
2022 2022 2021 2021
Head Count Fte Head Count Fte
Ave. No Ave. No Ave. No Ave. No
Association ctree staff 6.0 4.1 7.0 4.2
Home Mission staff 1.0 0.4 3.0 1.4
Total staff 7.0 4.5 10.0 5.6

emplnyee
benefits received by these per		 sonnel
wer		 e:
2022 2021f
Salaiy costs 91,653 137,332
National
Insurance
costs		 10.249 15,014
Employer's
pension
contribution		 11,897 10,726
Benefits in kind 150
113,799 163223
9 GRANTS PAYABLE 2022 2022 2022 2021
Grants payable to churches and institutions: Unrestricted
f		 Restricted
f		 Total
f		 Totalf
Affinity 5,256 5,256 5,254
Hayes Lane Baptist Church, Bromley 15,240 15,240 11.152
St. John's Wood Road Baptist Church 33,557 33,557 56,978
Cost ofLiving Grants (5 Churches) 7,500 7.500
Edlesborough
Baptist Church (Churches		 Aid Fund) 5,000 5,000
Grace Baptist Church
Grays (Churches		 Aid Fund) 5,000 5,000
Newtown
Baptist Church, Chcsham
(Training)		 12,000 12,000
Grace Church, Walthamstow
(Churches		 Aid Fund) 3,064 3,064 5,000
Grace Church Brighton (Training) 14,000 14,000
Grace Church Brighton 289 12.616 12,905
Rehoboth Baptist Church,
Horsham
(Train ing)		 (2,162) (2,162) 5,785
Prettygate
Baptist Church, Colchester (Training)		 2,850
Prettygate
Baptist Church, Colchester (Churches Aid Fund)		 5,000
Kings Road Baptist Church,
Chingford		 (Churches Aid Fund) 5,000 5,000 4,000
Small Training
Grants ( Churches
Aid Fund)		 800 800
Grace Baptist Church. Ebbstleet 44.314
55.747 Ii1.413 117,160 140,333
Grants payable to individuals: 2022f 2021
f
Training
Fund -		 unrestricted
(4 grants)		 16,000 38,699
Churches Aid Fund - unrestricted (4grants) 1,600 470
Cost ofLiving Grants - unrestricted (10grants) 5,000
Benevolent
Fund		 - restricted (4grants) 7.081 2,275
Pastors' Retiring dk Widows' Fund - restricted (9beneficiaries) 9.135
50.579
10 AIJDIT, INDEPENDEN T EXASIIN4TIO N. 4ND OTHE R FINANCIAL SE RVICES FEES
The company*s
auditors		 made the following charges: 2022 2021
f f
Fee for audit ofaccounts 4,560 4,560
Fee for other services 32 32
II 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 2022 3,583,705 315,600 36,734 3,936,039
Disposals (546) (546)
Additions
At 31stDecember 2022		 .6» 4,373
»6		 4,373
393 .
Depreciation
At 1stJanuary 2022 22,237 22,237
Disposals (291) (291)
Additions 8,756 8.756
At 31stDecember 2022 30,702
Net book value
At 31stDecember 2022 -.56.. 9
At 31stDecember 2021 3583.7t)5 315.600 14,497 3.913.802
12 INVESTMENTS 2022 2022 2022
Investment Quoted Total
properties
f		 investments f
Market value at 1st Jmiuary 2022 357.732 2,653,946 3.011,678
Additions 622,460 622,460
Disposals (621.095) (621,095)
Unrcalised
gains / (losses)		 (390,545) (380.1311
Market value at 31st December 2022 2.632,912
At Cost
As at 31stDecember 2022 6 5» 5 563,785
As at 31stDecember 2021 4 876,410

YEA R EN DED 31 DECE DED 31 DECE MBER 202 2
(Continued)
2022 202/
13 LO.ANS 6 f
Loans (to
I church)		 2,GGO
Loans are interest free and repayable within ten years. Included within loans is approximately f 1,330repayable aRer more than
one year.
2022 202/
14 DEBTORS f f
Other debtors 18,589 16,513
Prepayments 1,824
18,589 18,337
2022 202/
15 CREDITORS f f
Other creditors 38,94G 48.190
38.946 48.190
Brought
Income Expenditure Transfers Other Gains forward Carried forward
16 UNRESTRICTED FUNDS 2022
f		 2022
6		 2022
0		 / (Losses)
f		 I/I/2022
f		 31/12/2022
f
General Fund 219,273 (280,919) (4,569) (369,555) 6,156,985 5,721,215
Churches Aid Fund (32,855) 99,316 66,461
Training Fund (39,838) 2,819 (37,019)
Walthamstow Manse 461 000 461 ODD
Figures forprevious yearfor comparison
Brought
Income Expenditure Transfers Other Gains fotward Calx'scil fol tval'd
2021 2021 2021 2021 /(Losses) I/I /2021 31/12/2021
0 f 6 f
General
Fund		 3-1 1,740 (320,655) (25,000) 201,598 5,959,302 6,15G.9S5
Churches
Aid		 Fund -I85 (1-1.470) 25,000 88.301 99.316
Training
Fund		 50,0011 (47,334) 133 2,819
Walthamstotv Mwtse 461.000 461,000

Brought
Inconhc Expenditure Transfers Other Gains fonvard Carried fonvsrd
17 RESTRICTFD I (FNDS 2022 2022 2022 / (Losses) I/I/2022 31/(2/2022
f f f f
Hahvth ome Family 132 (33,575) 33,443
Home Mission 36,555 (41,124) 4.569
Gatehvay
Fund
Brighton
Fund		 62.621 (66,323) 3,702
Benevolent
Fund		 750 (7,081) 43,417 37,086
Loan Fund 181 16,919 17.100
Pastors' Retiring and 9/idows' Fund 1,834 (9,655) (8,102) 73,694 57,771
Sinclair Fund 12.899 10414 361,809 383.991
h hh
Figures for previous veerfor compirrison
Brought
Income Expenditure Transfeix Other Gains funvard Carried fohxh srd
2021 2021 2021f 2021 / (Losses)
f		 I/I /2021
f		 31/I 2/2021
f
Hawthorne
Family		 680 (56,998) 89,761 33,443
Home Mission 52,340 (52,340)
Gateway
Fund		 34,512 (69,529) 35.017
Brighton Fund 45,997 (42,295) 3,702
Benevolent Fund 753 (2,775) 44,939 43,417
Loan Fund 117 16,802 16,919
Pastors' Retiring and Widohvs' Fund 2,485 (9,481) 5,883 74,807 73,694
Sinclair Fund 12608 (893) 350094 361.809
5.883 611,420 532 984