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|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.|||||||||||
##
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##
##
##
##
##
##
|||||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|
##
##
##
##
##
##
##
##
##
##
##
##
##
##