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2020-12-31-accounts

EAST LONDON TABERNACLE BAPTIST CHURCH

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31[st] DECEMBER 2020

Charity Registration Number: 1128266 HMRC Charity Reference Number: X83152

EAST LONDON TABERNACLE BAPTIST CHURCH

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31[st] DECEMBER 2020

Contents Page
Charity Information 1
Trustees’ Annual Report 2-5
Independent Auditors’ Report 6-8
Statement of Financial Activities 9
Balance Sheet 10
Notes to the Financial Statements 11-18

EAST LONDON TABERNACLE BAPITIST CHURCH

CHARITY INFORMATION

Church Elders/Trustees Adekunle Adeoye (Treasurer, from July 2021)
Ken Brownell (Minister and Chairman, retired 30/09/2021)
Marc Rhode Lapointe (Appointed 29/04/2021)
Graham Shearer (resigned 03/10/2020)
Alastair Steven
Adam Wilson
Pastoral Team Ken Brownell
Andy Mossop
Carys Woodbridge
Deacons Kayode Adeoye
Kehinde Adeoye (appointed 29/01/2021)
Andy Mossop
George Rae (Treasurer, resigned July 2021)
Andre Reis (appointed 29/04/2021)
Michaela Stogden
Adam Wilson (Secretary)
The key management personnel are considered to be the Church elders, pastoral team and deacons.
Charity Registration Number 1128266
HMRC Charity Number X83152
Church Office Burdett Road
London
E3 4TU
Principal address Burdett Road
London
E3 4TU
Independent Auditors Jacob Cavenagh & Skeet
Chartered Accountants
5 Robin Hood Lane
Sutton
Surrey
SM1 2SW
Bankers CAF Bank Ltd
25 Kings Hill Avenue
Kings Hill
West Malling
Kent
ME19 4JQ
Holding Trustee for Land & Buildings The London Baptist Property Board Ltd
235 Shaftesbury Avenue
London
WC2H 8EP

Page 1

EAST LONDON TABERNACLE BAPITIST CHURCH

TRUSTEES’ ANNUAL REPORT

The Trustees present the report and financial statements of East London Tabernacle Baptist Church for the year ended 31 December 2020. The financial statements have been prepared in accordance with the Charities Statement of Recommended Practice (Charities SORP (FRS 102)).

STRUCTURE, GOVERNANCE AND MANAGEMENT

ELT Baptist Church is a registered charity and an Independent Evangelical Church in association with the Fellowship of Independent Evangelical Churches.

Governing Document

East London Tabernacle Baptist Church was established under the terms of a trust deed dated 23 April 1872, which sets out the basis of the use of the current building by the Church. Pursuant to a deed dated 25 April 1977, The London Baptist Property Board Limited was appointed as the Trustee of the freehold land and Church building in Burdett Road. The Church obtained charitable status in March 2009, the Elders of the Church becoming Managing Trustees. In 2009 the Charity Commission authorised a Scheme to incorporate the 1872 Property Charity and the later Manse Charity within the framework of the Working Funds Charity.

Appointment and Induction of Trustees

Recommendations to appoint new Elders are brought to the Church members' meeting by the existing Eldership. They are appointed at a Church meeting via a resolution that must be passed by a 70% majority of the quorum then present. They receive training within trustee meetings.

Organisation

The Elders, who are also the Trustees, regularly review, discuss and direct the affairs of the Church, meeting together on a monthly basis. The Deacons, including the Church Secretary and Treasurer, look after the practicalities of running the Church. The Church Management Committee (comprising Elders, Deacons and others) meets on a bimonthly basis to discuss matters relating to the practicalities of running the Church. However, it is the decisions taken at the Church members’ meetings that are pre-eminent. These are held four times per year.

Risk Management

The Trustees have reviewed the major risks which the Church faces and confirm that they have established systems to mitigate those risks, including a reserves policy (see below).

OBJECTIVES AND ACTIVITIES

Objectives

The primary objective of the church is the advancement of the Christian faith both in the United Kingdom and overseas by teaching the Bible, and promoting prayer and fellowship among believers. It also seeks the advancement for public benefit of religious education and the care of the aged, poor, sick and disabled.

Staffing

The Church employed a senior pastor, Kenneth Brownell, and an associate pastor, Graham Shearer. It also employed a pastoral worker, Carys Woodbridge; a Youth & Community worker, Andy Mossop; and an assistant minister who has responsibility for a satellite congregation in Newham, Martin Oriakhi. Together these form the Pastoral Team, which maintains a regular ministry and pastoral care for the congregation. In addition, the Church employed as youth workers, Antonia Sheldrake (full-time) and Amin Mohammed (part-time) and as administrators, Portia Omo-Bare and Neil Scott (both part-time).

Graham Shearer ended employment with the Church in August 2020.

Page 2

EAST LONDON TABERNACLE BAPITIST CHURCH

TRUSTEES’ ANNUAL REPORT (CONTINUED)

The Church’s ministries

The church seeks to provide:

Volunteers are actively involved in assisting with almost all of the Church's activities.

Grant making policy

Gifts to external organisations and individuals are considered by the Trustees or delegated committees on the basis of need and fulfilment of the charitable objectives. There are no upper or lower limits of support.

The Church also makes gifts from a separate charity, the Archibald Brown Trust (Registration No 228069), which exists to provide support to members of the Church in financial difficulties.

Public Benefit

The trustees confirm that they have complied with the duty in section 17(5) of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission and, in particular, the specific guidance on charities for the advancement of religion.

Fundraising

The Church engaged in fundraising in the form of receiving free-will offerings and donations, some of which were giftaided, from members and regular attenders of the fellowship. We did not contract the service of any professional fundraisers as defined by section 58 of the Charities Act 1992. Other than publicly inviting an offering at every service, we do not engage in persistent fundraising or intrusive fundraising practices with any of our donors, including vulnerable people, and we never have private or coercive discussions with individuals about their giving. Our fundraising practices are ethical and in accordance with Biblical principles. No complaints were received about our fundraising practices.

Page 3

EAST LONDON TABERNACLE BAPITIST CHURCH

TRUSTEES’ ANNUAL REPORT (CONTINUED)

ACHIEVEMENTS AND PERFORMANCE

Review of the year ended 31 December 2020

Since March 2020, due to the Covid-19 pandemic and associated lockdowns, the Church was not able to run many of its usual activities. Sunday services were moved online and then brought back in-person once allowed and under social distancing guidelines, while other activities were run online and/ or in-person within Government guidance.

Financial Review

The Church continues to be dependent on donations and legacies made by the Church members and other donors, which for the year ended 31 December 2020 totalled £284,057 (2019: £284,911). Total income amounted to £341,895 (2019: £337,074). Expenditure on charitable activities amounted to £332,546 (2019: £378,390). Income for the year exceeded expenditure by £9,349 (2019: Expenditure exceeded income by £41,316). Details of the financial position of the Church are set out on pages 9 to 18.

At the year end, the charity held funds of £4,145,597 of which £97,623 were restricted, £3,919,732 were restricted and £128,242 were unrestricted.

Investment policy

The Church holds no assets for long term investment purposes. Cash balances are held at CAF Bank and balances not expected to be used in the short term are held in a deposit account in order to earn interest.

Reserves policy

The Church seeks to maintain sufficient reserves to meet on-going liabilities for a minimum of a three-month period with no income. A separate fund exists for an on-going project of refurbishment and adaptation of the building to meet current and future requirements.

Plans for the Future

Covid-19 and subsequent lockdowns have continued to impact the activities of the Church, but many have been running where possible. During 2021, the Church expects:

Already in 2021 the Church has:

Page 4

EAST LONDON TABERNACLE BAPITIST CHURCH TRUSTEES, ANNUAL REPORT (CONTINUED) Related Parties The Elders of East London Tabernacle Baptist Church are all trustees of the Archibald Brown Trust The Trust, established by the first minister of the Church. exists lo provide financial relief lo members and regular allendees of the Church when they are in financial cjifficulty. STATEMENT OF TRUSTEES, RESPONSIBILITIES The trustees are responsible for preparing the Trustees, Annual Report and the financial slalemenls in 2ccordance with applicable law and United Kingdom Accounting Standards including Financial Reporting Standard 102." The Financial Reporting Standard applicable in the UK and Republic of Ireland Iuniled Kingdom Generally Accepted Accounting Praclicel. The law applicable to charities in England & Wales requires the Iruslees lo prepare financial statements for each financial year which give a true and fair view of the slate ol affairs ol the charity and of the income and expenditure of the charity for that period. In preparing these financial slalemenls. the Iruslees are required to.. select Suitable accounting policies and then apply them consistently., observe the methods and principles in the Charities SORP., make judgments and accounting estimates that are reasonable and prudent,. stale whether applicable aecounling standards have been followed. subject to any material departures disclosed and explained in the financi81 slalemenls, and prepare the financial stslemenls on the going concern basis unless il is inappropriate lo presume that the charity will continue in business. The trustees are responsible for maintaining proper accounting records which disclose with reasonable accuracy al any lime the financial position of the charity and enable them lo ensure that the Iinancial statements comply with the Charities Act 2011. the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. The Iruslees are responsible for the maintenance and integrity of the charity and financial information included on the charity's website. Legislation in the United Kingdom goveming the preparation and dissemination of linanei81 statements may differ from legislation in other jurisdictions. Alastair Steven On behalf of the Trustees Adam Wilson sl,.I, Date.. 2112/LI Page 5

INDEPENDENT AUDITORS’ REPORT TO THE TRUSTEES OF EAST LONDON TABERNACLE BAPTIST CHURCH

Opinion

We have audited the financial statements of East London Tabernacle Baptist Church (the “Charity”) for the year ended 31 December 2020 which comprise the Statement of Financial Activities, the Balance Sheet and the related notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102: The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the Charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and the provisions available for small entities, in the circumstances set out in note 14 to the financial statements, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Charity’s ability to continue as a going concern for a period of at least 12 months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report, including the trustees’ report, other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information

We have nothing to report in this regard.

Page 6

INDEPENDENT AUDITORS’ REPORT TO THE TRUSTEES OF EAST LONDON TABERNACLE BAPTIST CHURCH

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the Charity and its environment obtained in the course of the audit, we have not identified material misstatements in the trustees’ report.

We have nothing to report in respect of the following matters in relation to which the Charities Act 2011 requires us to report to you if, in our opinion:

Responsibilities of the trustees

As explained more fully in the trustees’ responsibilities statement, the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as they determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the Charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the Charity or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial statements

We have been appointed as auditor under section 145 and report in accordance with the Act and relevant regulations made or having effect thereunder.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists.

Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Based on our understanding of the company, we identified that the principal risks of non-compliance with laws and regulations related to charity, employment and health & safety and we considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as the Charities Act 2011.

We assessed the susceptibility of the charity’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by making enquiries of management, considering the internal controls in place and discussion amongst the engagement team.

We determined that the principal risks were related to valuation of investment property, recognition of legacy income and government grants.

In response to the risks identified we designed procedures which included but were not limited to reviewing third party evidence of investment property valuations, discussions with management, review of legacy correspondence, testing the calculation of claims made under the Coronavirus Job Retention Scheme and agreeing financial statement disclosures to underlying supporting documentation.

Page 7

INDEPENDENT AUDITORS, REPORT TO THE TRUSTEES OF EAST LONDON TABERNACLE BAPTIST CHURCH There are inherent limitations in the audit procedures described above. The more removed that laws and regulations are from financial Iransa¢lions, the less likely il is that we would become aware of non-compliance. Material misslalemenls that arise due to fraud can be harder lo delect than those that arise from error as they may involve deliberate concealment or collusion. A further des¢riplion of our responsibilities fDr the audit of the financial slalemenls is located on the FinarKial Reporting CouncAI's website al.. wwN.frc.org.uklaudilorsresponsibililies. This description forms part of our auditor's report. Use of our report This report is made solely to the Charity's Iruslees, as a body. in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our 8ud11 work has been undertaken so that we might $18le lo the Charity's trustees those matters we are reqLJired lo slate to them in an auditor's report and for no other purpose_ To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charrty and the charity's Iruslees as a body, for our audit work, for this report. or for the opinions we have formed. Jacob Cavenagh & Skeet Statutory Auditor Chartered Accountants 5 Robin Hood Lane Sutton Surrey SM12SW Dated.. Jacob Cavenagh & Skeel is eligible for appointment as auditor of the charity by virtue of its eligibility for appointment as auditor of a company under section 1212 of th& Comp8nies Act 2006. Page 8

EAST LONDON TABERNACLE BAPTIST CHURCH STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31[st] DECEMBER 2020

Note
Income from:
Donations and legacies:
2
Charitable activities
3
Other trading activities
Investments
HMRC JRS Grant
Total income
Expenditure on:
Charitable activities
4
Total expenditure
Net gains on investments
Net income/(expenditure)
Transfers between funds
Net movement in funds
Reconciliation of funds
Total funds brought forward
Total funds carried forward		 Unrestricted
Fund
Designated
Funds
Restricted
Funds
2020
Total
Unrestricted
Fund
Designated
Funds
Restricted
Funds
2019
Total
£
£
£
£
£
£
£
£
242,070
-
41,987
284,057
202,161
-
82,750
284,911
5,849
-
5,603
11,452
9,264
-
2,613
11,877
43,862
-
-
43,862
40,180
-
-
40,180
12
-
-
12
106
-
-
106
2,512
-
-
2,512
-
-
-
-
294,305
-
47,590
341,895
251,711
-
85,363
337,074
303,914
-
28,632
332,546
290,938
-
87,452
378,390
303,914
-
28,632
332,546
290,938
-
87,452
378,390
-
-
-
-
-
-
-
-
( 9,609)
-
18,958
9,349
(39,227)
-
(2,089)
(41,316)
(7,787)
-
7,787
-
(11,986)
-
11,986
-
(17,396)
-
26,745
9,349
(51,213)
-
9,897
(41,316)
145,638
3,919,732
70,878
4,136,248
196,851
3,919,732
60,981
4,177,564
128,242
3,919,732
97,623
4,145,597
145,638
3,919,732
70,878
4,136,248

Page 9

EAST LONDON TABERNACLE BAPTIST CHURCH BALANCE SHEET AS AT 31" DECEMBER 2020 Note 2020 2019 Fixed assets Tangible fixed assets Investment properties 3,643,753 300 000 3,943.753 3,662,053 300 000 3,962.053 Current assets Debtors Cash al bank and in hand 113,519 62,207 130 834 193.041 213.396 Creditors Amounts falling due within one year 10 1115521 118 8461 Net current assets 201 844 174 195 Net assets Funds Unreslricled funds Designated funds Restricted funds 128,242 3,919,732 145,638 3.919,732 11 12 13 414 Approved by the Trustees and signed on their behall by.. Alastair Steven Adam Wilson s/,.l. Dale.. ¥IL/C( Page 10

EAST LONDON TABERNACLE BAPTIST CHURCH NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31[st] DECEMBER 2020

1 ACCOUNTING POLICIES

The principal accounting policies are set out below and have been adopted consistently throughout the year.

a) Basis of accounting

The accounts are prepared under the historical cost convention and in accordance with the Charities Act 2011 and the Charities Statement of Recommended Practice (Charities SORP (FRS 102)) and Financial Reporting Standard 102 (FRS 102).

East London Tabernacle meets the definition of a public benefit entity under FRS 102.

b) Fund accounting

General funds represent the funds of the church that are not subject to any restriction regarding their use and are available for application on the general purposes of the church.

The designated funds represent the assessed rebuilding cost used for insurance purposes of the three properties held in Trust for the use of East London Tabernacle Baptist Church, and any legacy income received during the year, to be used for refurbishment and maintenance of premises.

Restricted funds are monies to be used in accordance with specific restrictions imposed by donors. The aim and nature of each restricted fund is set out in the note 10.

The accounts include all transactions, assets and liabilities for which the church is responsible by law. They do not include the accounts of church groups that owe their main affiliation to another body nor those that are informal gatherings of church members.

c) Incoming resources

All incoming resources are included in the Statement of Financial Activities when the church is legally entitled to the income and the amount can be quantified with reasonable accuracy.

For Job Retention Scheme government grant income, the income is recognised in the period to which the underlying furloughed staff costs relate to.

d) Legacies

Legacies are included when the charity has entitlement to the income, it is probable the income will be received and the amount can be reliably measured.

e) Resources expended

Expenditure is accounted for on an accruals basis and has been analysed between:

f) Pensions

A stakeholder pension scheme is available to all staff. Contribution rates are agreed on an individual basis, and are made to the stakeholder pension scheme, or personal pension schemes held by employees. All contributions are made on a defined contribution basis.

Page 11

EAST LONDON TABERNACLE BAPTIST CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31[st] DECEMBER 2020

1 ACCOUNTING POLICIES (continued)

g) Tangible fixed assets and depreciation

Tangible fixed assets costing more than £1,000 are capitalised, and stated at cost less accumulated depreciation. In 2007, the properties were included in the accounts at an assessed rebuilding cost used for insurance purposes. In accordance with the SORP, this cost is treated as the initial carrying amount and is not regarded as a revaluation.

Depreciation is provided at rates calculated to write off the cost or valuation of the fixed asset, less their estimated residual value, over their expected useful lives on the following bases:

No depreciation is provided on Land and Buildings. The charity adopts a policy of maintaining properties to a high standard, which prolongs their useful lives and enhances their residual value. As such the trustees feel that any depreciation arising is immaterial. All maintenance costs are written off as expenditure in the Statement of Financial Activities.

Office Equipment 33.3% on cost Fixtures and Fittings 10% on cost

h) Investment properties

Properties not held for charitable use and instead for investment return are shown as fixed asset investments. Fixed asset investments are stated at market value and revalued each year.

i) Cash and current asset investments

Cash includes cash and short term highly liquid investments with a short maturity of three months or less from the date of opening of the deposit.

j) Creditors and provisions

Creditors and provisions are recognised where the charity has a present obligation arising from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are recognised at their settlement amount.

2 DONATIONS AND LEGACIES

Unrestricted Restricted
Funds
Funds
£
£
Youth work Grants and Donations
Central Foundation Girl’s School
-
-
East End Homes
-
8,167
London Youth
-
-
London Borough of Tower Hamlets
-
-
St Paul’s Way Trust School
-
840
The Jack Petchey Foundation
-
850
Total Youth work Income
-
9,857
Grants
-
-
Donations
223,570
32,130
Legacies
18,500
-
242,070
41,987		 Total
2020
£
-
8,167
-
-
840
850
9,857
-
255,700
18,500
284,057		 Total
2019
£
1,260
7,564
600
6,000
900
1,500
17,824
25,000
237,178
4,909
284,911

Page 12

EAST LONDON TABERNACLE BAPTIST CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31[st] DECEMBER 2020

3 INCOME FROM CHARITABLE ACTIVITIES

Unrestricted Restricted
Funds
Funds
£
£
Spring Fayre
-
5,603
Other Income
5,849
-
5,849
5,603
4
RESOURCES EXPENDED
Unrestricted Restricted
Support
£
£
£
Cost of charitable activities
Church ministry
227,087
18,232
4,995
Establishment costs
36,629
-
760
Grants and gifts to Mission and
Christian causes
29,440
10,400
-
Governance costs
5,003
-
-
298,159
28,632
5,755		 Total
2020
£
5,603
5,849
11,452
2020
£
250,314
37,389
39,840
5,003
332,546		 Total
2019
£
2,613
9,264
11,877
2019
£
303,527
46,605
23,401
4,857
378,390

Support costs have been allocated to unrestricted church ministry and establishment costs at a rate of 2% of total expenditure in these areas (including restricted costs) to estimate the amount of management time. Most support functions in the Church, such as finance, IT and personnel were carried out by volunteers.

Establishment costs are those incurred maintaining the church properties, for utilities and for property insurance. This also includes depreciation of £20,244 (2019: £24,423).

Governance costs includes fees payable to the auditor (including VAT) of £3,384 (2019: £3,204) relating to the audit and £1,619 (2019: £1,652) relating to other services.

5 GRANTS AND GIFTS TO MISSION AND CHRISTIAN CAUSES

Institutional grants
Christ Church Care Centre – South Africa
Crosslinks – J&C Hooker
Crosslinks (R&R Brown)
Unevangelised Field Mission – A McRoy
Individual grants and gifts
Total grants and gifts		 2020
£
9,901
9,335
635
2,101
21,972
17,868
39,840		 2019
£
8,431
6,716
-
2,201
17,348
6,053
23,401

All grants are given either for the advancement of the Christian faith, or the relief of poverty.

Page 13

EAST LONDON TABERNACLE BAPTIST CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31[st] DECEMBER 2020

6 STAFF COSTS

Wages and salaries
Social security costs
Pension costs
Average number of employees (including paid trustees)		 2020
£
185,485
10,093
8,088
203,666
2020
No.
10		 2019
£
202,306
12,529
9,934
224,769
2019
No.
11

No minister or employee was paid in excess of £60,000 during the year (2019: Nil). No related party transactions took place.

A total of £nil expenses incurred on behalf of the Church was reimbursed trustees during the year to 31st December 2020 (2019: £nil) in relation to travel.

The minister and assistant minister, who both serve as trustees, were paid the following amounts (including pension contributions and benefits in kind) for their service to the Church in this capacity. Remuneration is authorised by clause 10 of the church’s governing constitution.

Kenneth Brownell (Minister)
Wages and salaries
Social security costs
Pension costs		 2020
£
23,687
2,466
1,080
27,233		 2019
£
35,027
3,650
1,440
40,117

The total remuneration of the key management personnel of the charity listed on page 1, was as follows:

Wages and salaries
Social security costs
Pension costs		 2020
£
72,154
6,741
5,776
84,671		 2019
£
82,720
7,864
4,969
95,553

Page 14

EAST LONDON TABERNACLE BAPTIST CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31[st] DECEMBER 2020

7 TANGIBLE FIXED ASSETS

Cost
At 1stJanuary 2020
Additions
At 31stDecember 2020
Accumulated depreciation
At 1stJanuary 2020
Charge for the year
At 31stDecember 2020
Net Book Value
At 31stDecember 2020
At 31stDecember 2019
8
INVESTMENT PROPERTIES
Fair Value:
At January 2020
Revaluation
At 31 December 2020
9
DEBTORS
Due within one year:
Income tax recoverable
Legacies receivable
Other debtors and prepayments
10
CREDITORS
Amounts falling due within one year:
Other creditors and accruals		 Freehold
Land &
Buildings
£
3,600,000
-
3,600,000
-
-
-
3,600,000
3,600,000		 Fixtures
&
Office
Fittings
Equipment Total
£
£
£
271,785
18,223
3,890,008
1,944
-
1,944
273,729
18,223
3,891,952
210,922
17,033
227,955
19,648
596
20,244
230,570
17,629
248,199
43,159
594
3,643,753
60,863
1,190
3,662,053
2020
2019
£
£
300,000
300,000
-
-
300,000
300,000
2020
2019
£
£
87,349
58,335
18,500
-
7,670
3,872
113,519
62,207
2020
2019
£
£
11,552
18,846
11,552
18,846

Page 15

EAST LONDON TABERNACLE BAPTIST CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31[st] DECEMBER 2020

11 UNRESTRICTED FUNDS

General
Designated
East London Tabernacle,
Burdett Road, Mile End
9 Sharon Gardens,
Hackney
23 Ennerdale House
Capital Investment (Legacy) Reserve
General
Designated
East London Tabernacle,
Burdett Road, Mile End
9 Sharon Gardens,
Hackney
23 Ennerdale House
Capital Investment (Legacy) Reserve		 Balance at
Balance at
1st Jan 20
Income
Expenditure Transfers 31st Dec 20
£
£
£
£
£
145,638
294,305
(303,914)
(7,787)
128,242
3,300,000
-
-
-
3,300,000
300,000
-
-
-
300,000
300,000
-
-
-
300,000
19,732
-
-
-
19,732
3,919,732
-
-
-
3,919,732
Balance at
Balance at
1st Jan 19
Income
Expenditure Transfers 31st Dec 19
£
£
£
£
£
196,851
251,711
(290,938)
(11,986)
145,638
3,300,000
-
-
-
3,300,000
300,000
-
-
-
300,000
300,000
-
-
-
300,000
19,732
-
-
-
19,732
3,919,732
-
-
-
3,919,732

The designated funds represent the assessed rebuild cost used for insurance purposes of the properties held in Trust for the use of the Church, and any amounts designated by the trustees for refurbishment and maintenance of the premises.

Page 16

EAST LONDON TABERNACLE BAPTIST CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31[st] DECEMBER 2020

12 RESTRICTED FUNDS

RESTRICTED FUNDS
Balance at Balance at
1st Jan 20 Income Expenditure Transfers 31st Dec 20
£ £ £ £ £
Missionary Gifts
(special appeals and regular giving) 1,450 2,483 - - 3,933
Community Youth Work 3,553 10,834 ( 7,463) - 6,924
Church Youth Work 9,647 5,108 - - 14,755
Thank Offering and Building 13,396 500 - - 13,896
Russian School 11,539 - - - 11,539
Sunday School 10,000 - - - 10,000
Spring Fayre - 5,603 ( 9,900) 4,297 -
Basketball Camp 1,902 - - - 1,902
Fellowship - - ( 500) 500 -
Muslim Outreach Project - 7,424 (10,414) 2,990 -
Ridley Community Church 14,824 13,640 (355) - 28,109
Lebanon Appeal - 1,998 - - 1,998
Holiday Club 4,567 - - - 4,567
70,878 47,590 (28,632) 7,787 97,623
Balance at Balance at
1st Jan 19 Income Expenditure Transfers 31st Dec 19
£ £ £ £ £
Missionary Gifts
(special appeals and regular giving) 1,300 150 - - 1,450
Community Youth Work 16,585 18,729 (31,761) - 3,553
Church Youth Work - 9,647 - - 9,647
Thank Offering and Building 13,396 - - - 13,396
Russian School 11,539 - - - 11,539
Training Grant - - ( 654) 654 -
Mozambique Appeal - 1,981 ( 2,160) 179 -
Sunday School - 10,000 - - 10,000
Crossteach - 1,000 ( 3,250) 2,250 -
Spring Fayre - 2,613 ( 8,430) 5,817 -
Basketball Camp 1,902 - - - 1,902
Fellowship - - ( 250) 250 -
Muslim Outreach Project 4,722 4,929 (10,466) 815 -
Night Shelter - 125 ( 1,390) 1,265 -
Ridley Hall 5,963 10,274 ( 1,413) - 14,824
Ridley Christian Centre Support - 25,000 (25,756) 756 -
Holiday Club 5,574 915 (1,922) - 4,567
60,981 85,363 (87,452) 11,986 70,878

Transfers

The transfers from the general fund represent shortfalls in the income received over relevant expenditure. Funds

Page 17

EAST LONDON TABERNACLE BAPTIST CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31[st] DECEMBER 2020

12 RESTRICTED FUNDS (continued)

13 ANALYSIS OF NET ASSETS BETWEEN FUNDS

Unrestricted Designated Restricted
£
£
£
Fixed Assets
Land and Buildings
-
3,600,000
-
Fixtures, Fittings and Equipment
43,753
-
-
Investment Properties
-
300,000
-
Current Assets
Debtors
113,519
-
-
Cash at Bank and in Hand
( 17,478)
19,732
97,623
Current Liabilities
(11,552)
-
-

Net Assets
128,242
3,919,732
97,623		 Total
£
3,600,000
43,753
300,000
113,519
99,877
(11,552)
4,145,597

14 OTHER PROFESSIONAL SERVICES PROVIDED BY THE AUDITORS

In common with many other entities of our size and nature we use the auditor to assist with the preparation of our financial statements.

15 LEASING COMMITMENTS

Operating leases

The total future minimum lease payments under operating leases at 31 December 2020 were payable as set out below:

Within one year
Within two to five years
The operating lease charges for the year were:
Hire of office equipment		 2020
£
2,496
3,744
6,240

2,496
2,496		 2019
£
2,496
6,240
8,736
4,299
4,299


Page 18