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2020-12-31-accounts

Woodside Baptist Church – Annual Report and Accounts 2020

Woodside Baptist Church Spring Lane, London, SE25 Annual Report and Accounts 2020

(Charity Reg. No. 1130792)

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Woodside Baptist Church – Annual Report and Accounts 2020

Table of Contents

  1. Statutory Information

  2. Structure, Governance & Management

  3. Objectives & Activities

  4. Achievements & Performance

  5. Financial Review

  6. Plans for Future Periods

  7. Statement of Trustees’ Responsibilities

  8. Receipts and Payments Accounts

  9. Statement of Assets and Liabilities

  10. Notes to Accounts

  11. Independent Examiners Report

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Woodside Baptist Church – Annual Report and Accounts 2020

1. Statutory Information

Charity Name

Woodside Baptist Church

Registered Address

Spring Lane, London, SE25 4SP

Charity registration number

1130792

Trustees (during 2020)

Reverend Steve Calder (Senior Minister) Robert Newson (Treasurer) Angela Chatterjee (Secretary) Ruth Newson (Mission Support) Joanne Scarse (Youth and Children’s Deacon) Donovan Harvey (Property Deacon)

Trustees at report approval

Reverend Steve Calder (Senior Minister) Robert Newson (Treasurer) Neil Scarse (Secretary) Ruth Newson (Mission Support) Joanne Scarse (Youth and Children’s Deacon) Moses Kajubi (Property Deacon)

Property Trustees

London Baptist Property Board 235 Shaftesbury Avenue, WC2H 8EP

Bankers

National Westminster Bank plc, 209 Lower Addiscombe Road, Croydon, CR0 6RB Virgin Money plc, Jubilee House, Gosforth, Newcastle-upon-Tyne, NE3 4PL

Independent Examiner

Mr Kevin Fisher

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Woodside Baptist Church – Annual Report and Accounts 2020

2. Structure, Governance & Management

a) Charitable Object

The principal purpose of the church is the advancement of the Christian Faith according to the principles of the Baptist denomination. The church may also advance education and carry out other charitable purposes in the United Kingdom and/or other parts of the world.

Governing Document

The church is governed by an Approved Governing Document which is a public document and the legal basis on which we function as a registered charity.

Vision Statement

God has called us to be a worshipping and praying community, committed to taking Christ into all the world, and seeking to encourage a response of committed discipleship.

Church Covenant

Depending day by day on the loving kindness of our Lord Jesus, we commit ourselves to building a community of love, accepting one another as He has accepted us, and putting the needs of others before our own. We will seek to express the unity of the Holy Spirit through being at peace with each other; to encourage one another in following Jesus; and to comfort and help one another in times of difficulty.

We will support and pray for the Pastor, leaders and officers of the Church. As we are able, and in co-operation with the church leaders, we will contribute to the life of the church in prayer; through regular participation in worship together; in offering ourselves in service; and in financial support for all aspects of the church’s ministry.

Under the leading of the Holy Spirit, we will seek in word and deed to share the gospel with our families and others, through our own personal witness; by sharing in the outreach activities of the church; by the instruction of our children and young people; and in our support for mission here and overseas.

Doctrinal Statement

The following statements of belief express those doctrines which we believe to be supremely important.

  1. The Divine Inspiration Authority and Sufficiency of the Holy Scriptures as not only containing but being in themselves the Word of God and the need of the teaching of the Holy Spirit in order to gain a true and spiritual understanding of it.

  2. The unity of the Godhead and the Divine Co-equality of the Father the Son and the Holy Spirit.

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Woodside Baptist Church – Annual Report and Accounts 2020

  1. The utter depravity of human nature in consequence of the fall.

  2. The true and proper Godhead of our Lord Jesus Christ. His real and perfect manhood. His work of atonement for sinners of mankind. His resurrection and ascension and His present priestly intercession for His people at the Right hand of the Father.

  3. The justification of the sinner solely by faith through the atoning merits of our Lord and Saviour Jesus Christ.

  4. The necessity of the Work of the Holy Spirit in Regeneration Conversion and Sanctification also in ministry and worship.

  5. The immortality of the soul, the Resurrection of the body, the Judgement of the world by our Lord Jesus Christ with the eternal blessedness of the righteous and the eternal punishment of the wicked.

  6. The Divine institution of the Christian Ministry and the obligation and perpetuity of the ordinances of Believers’ Baptism (by immersion) and the Lord’s Supper.

b) Organisational Structure

Charity Trustees

In accordance with the Constitution the Members appoint Trustees, who together with the Minister, Church Secretary and Treasurer (who are also appointed by the Members) are responsible for the day to day running of the church’s work and witness, and the financial and legal aspects of the charity.

Church Membership

Members of the Church are accepted in accordance with the Constitution which requires them to be or to have been publicly baptised on the profession of faith in Jesus Christ. At the end of 2020 there were 85 members on the members list.

Relationships with other Organisations

The church is a member of the Baptist Union of Great Britain, the London Baptist Association, the Evangelical Alliance and Christians Together in South Norwood.

c) Safeguarding

Policies

The church recognises its responsibilities in safeguarding all children, young people and adults at risk, regardless of gender, ethnicity or ability. Any concerns raised are reported and investigated. The church practices safe recruitment by ensuring that all employees and volunteers are provided with appropriate training, support and supervision. DBS checks for all volunteers are reviewed regularly and kept up to date.

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Woodside Baptist Church – Annual Report and Accounts 2020

The Trustees produce and the Members approve a set of policies which are used in the day-to-day governance of the church. Policies provide guidance on matters such as Child Protection, Health & Safety, Fire Safety, Disability, and Equal Opportunities.

Risk Assessments

Risk Assessments have been produced, and are regularly reviewed, for matters of Finance, Health & Safety, and Youth & Children’s work. Risk Assessments are also produced, where appropriate, for one-off events or activities.

d) Decision Making

Trustees

The trustees met eleven times during 2020.

Church Business Meetings / Special Church Business Meetings

The church meeting is an integral part of the way the church functions. Though the Constitution permits decisions to be made at Church meetings by appropriate majorities, the Church seeks to work by consensus wherever possible.

During 2020 the church was only able to meet together for one church business meeting. The normal voting in of Deacons for the year 2021 was suspended due to no AGM being possible and those in post continued with their roles.

3. Objectives & Activities

Objectives

The main purpose of the church is the advancement of the Christian faith according to the principles of the Baptist denomination. The church may also advance education, community service and other charitable purposes in the United Kingdom and/or other parts of the world.

Activities

In order to achieve the principal objective which is set out above, the Church provides a variety of activities both to its membership and to the community generally. The aim is to show the love of Jesus Christ in both word and deed and to bring people into a closer relationship with Him as living Lord.

The main activities are normally:

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Woodside Baptist Church – Annual Report and Accounts 2020

Public Benefit Statement

When planning our activities for the year, the trustees have considered the Commission’s guidance on public benefit and, in particular, the specific guidance on charities for the advancement of religion. In particular, we try to enable ordinary people to live out their faith as part of our church and local community through:

To facilitate this work it is important that we maintain the fabric of the church buildings.

4. Achievements & Performance

During 2020 our activities were severely disrupted by the effects of the Corona virus (COVID-19) from late March onwards with the lockdowns that the UK Government put in place.

Public Worship & Teaching

Until the first lockdown in March shortly before Easter we continued with our regular Sunday worship services, and our five midweek home groups continued with their organised programmes. In our Sunday morning worship services we started monthly 3 or 4 sermon series on different topics from the Old and New Testaments giving an overview of the Bible.

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Woodside Baptist Church – Annual Report and Accounts 2020

When the Coivd-19 restrictions came we were in the middle of one of these series and were unable to meet together. We were able to continue in a much reduced capacity by using the church's private Facebook account and latterly by Zoom with the leader and preacher operating from home, continuing monthly series.

When the lockdown restrictions were eased in the summer we were able to met together socially distanced outside using our car park, but with the tightening of lockdown restrictions in the autumn the services were again restricted.

With the difficulty of meeting together we were unable to provide much signing for the deaf during the year, but we offered transcripts of the preaching on our website.

Looking ahead to 2021 we will be continuing with monthly series to get an overview of the Bible.

Local Mission & Community Outreach

With the Covid-19 lockdown all activites were forced to stop until such time as the restrictions were lifted. Then we intend to restart our Drop-in (Tuesdays), Parents & Toddlers Group (Fridays) and n:Gage Youth group (Fridays), along with our football team continuing.

We joined with the local Anglican church, St Luke's, in providing help to people during the lockdown period, providing services (such as collecting shopping) for local people unable to get out during the lockdown.

We continue to see God's direction for our mission strategy.

Support of missionaries

We have continued financial and prayer support to two missionary families now working in the UK.

Youth ministry

With the Covid-19 lockdown we were unable to replace our Youth Worker. The youth activties were also forced to stop and the youth were disappointed not to go to the “Dreaming The Impossible” event over the summer (which the organisers had to cancel).

As circumstances allow we will restart our Brigades and continue to run our Youth Group in partnership with “Play Place”. We intend to recruit a replacement youth worker when finances allow it.

Pastoral Care

Our Pastoral Deacon stepped down and with the Covid-19 there has been a delay in finding a replacement. During the Covid-19 pandemic the church worked with various statutory and voluntary agencies to support local people who were in need during the period of lockdown.

Included in our range of care we normally:-

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Woodside Baptist Church – Annual Report and Accounts 2020

The selfless commitment of all our volunteers was magnificent and was greatly appreciated.

Property maintenance

The Church is blessed with an extensive and useful set of buildings, on trust from the London Baptist Property Board. The main church building sits alongside two halls, several classrooms and a car park. In addition, the church has residential accommodation in the form of “The Manse”, “The Cottage” and “The Caretaker’s Flat” (formally used by the church caretaker).

In recent years the number of volunteers has decreased and the church has become increasingly reliant on external tradesman to perform repairs/installations, particularly those which involve electricity, gas or water.

Routine and statutory inspection of heaters, electrical appliances, fire extinguishers and similar equipment has been carried out and the necessary approvals/certificates obtained and filed.

5. Financial review

Financial Summary

The financial aspects of the church are the responsibility of the Trustees but they are managed on a day-to-day basis by the Treasurer, the Finance Committee (who are responsible for reviewing the finances and suggesting matters of policy to the trustees), the Gift Aid Secretary, the Offering Counting Team, and the Treasurers for the auxiliary departments (Parents & Toddlers, Boys Brigade, Girls Brigade, Young People’s Group, Sunday Club).

The financial results for the year are set out in the accompanying financial statements, prepared on the Receipts & Payments basis. The main funds maintained are the General Fund, Mission Support Fund, Property Fund, and the departmental funds (Parents & Toddlers, etc).

The vast majority of the church’s income is from donations given by the members and congregation. Other income is derived mainly from the rent for the Caretaker’s Flat and Cottage and also tax recovered on gift-aided donations.

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Woodside Baptist Church – Annual Report and Accounts 2020

The main areas of expenditure are employment costs (Pastor & Cleaner), property utilities, maintenance costs, charitable donations & grants, and mission (evangelism/outreach/ministry/ training).

At the end of 2020 the General Fund had a balance of £28,087; the balance at the start of 2020 was £34,008. At the start of 2020 the church set a budget for the General Fund of £89,673, and the actual spend was £55,458. The weekly giving required to support the budget was £1,423 (after tax recoveries and other adjustments) and the actual weekly income received was £845.

When planning our activities for the year, the trustees have considered the Commission's guidance on public benefit and, in particular, the specific guidance on charities for the advancement of religion.

The Church expressed its part in the life of the wider church by making grants to national and international Christian organisations and societies with Christian aims and objectives compatible with the church’s own charitable purpose. The largest grants were towards the support of the church’s own missionaries who are supported through Operation Mobilisation and Ambassadors In Sport. In addition, significant donations were made to Open Doors, Woodside Bereavement Service, Croydon Churches Floating Shelter and West Croydon Refugee Centre.

2020 was a tough year with the Covid-19 lock down that started in March from which time the church was unable to meet. When the first lock down was lifted we were able to meet in a socially distanced way in our car park. Due to the lack of meetings there were very few collections made severely impacting our income and a number of church members set up standing orders;. The flat rental income provided the main income to the Property Fund.

With the lock down most activities had to stop and so only essential spending was made using an emergency budget. The main expenditure during 2020 was salaries (we were able to make use of the furlough scheme for our cleaner as our buildings not being used meant they were not needing cleaning) and property utilities. In paying our previous Youth Worker statutory maternity pay and reclaiming it we had an overpayment credit of £754 with HMRC which was further increased until the payments ceased in July; this was used to pay our subsequent liabilities until October.

Reserves Policy

The Trustees have established a Reserves Policy which ensures a minimum balance of £11,370 in the General Fund. They are satisfied that the reserves are sufficient at the Balance Sheet date, together with ongoing income anticipated, to enable the church to function effectively in the coming year. An emergency budget for 2021 of only essential spending has been set to ensure a reserve of £24,000 at the end of the year. There are some designated funds which can be returned to the General Fund if necessary.

In addition a Property Reserve, £24,602 at the Balance Sheet date, has been previously created from surplus funds (of the General Fund) in anticipation of unexpected and significant property repairs and maintenance in the future.

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Woodside Baptist Church – Annual Report and Accounts 2020

Volunteers

The Church is heavily dependent on its membership and congregation working as volunteers in all aspects of the church’s activities, many of which run with little or no impact on the church’s expenditure, but nevertheless contribute substantially to the achievement of the church’s objectives. No accounting for this time and effort has been included in the financial statements.

Funds held on behalf of other Organisations

None.

Pension Scheme Liability

The Church is an employer participating in the Baptist Pension Scheme (BPS) which is administered by the Baptist Pension Trust Ltd (the Pension Trustee; it is a separate legal entity and its assets are kept separate from all participating employers.

For service prior to 1 January 2012 benefits are provided through a Defined Benefit (DB) plan within the BPS. A formal value of the DB plan was performed at 31 December 2019 by a professionally qualified Actuary using the Projected Unit Method: the market value of the assets at the valuation was £298 million, but the valuation of the DB plan revealed a deficit of £18 million when comparing assets and liabilities (equivalent to a past service funding level of 94%). All participating employers are collectively responsible for funding the deficit. The next actuarial valuation of the DB Plan within the Scheme is due as at 31 December 2022.

The deficiency contributions are broadly based on 12% of Pensionable Income in March 2015. Between 1 July and 31 December 2020 the Trustee and the Council agreed a 50% reduction on all deficiency contributions payable. In addition the Baptist Union of Great Britain agreed to contribute a lump sum of £0.5m by 31 December 2020. The current Recovery Plan dated 30 September 2020 envisages deficiency contributions continuing until 30 June 2026.

The church has three members in the BPS DB plan one of which is receiving a pension. The church is making a monthly contribution of £303 which will increase in line with increases in Minimum Pensionable Income. The pension deficit liability shown in the Statement of Assets and Liabilities is calculated as the current rate per month multiplied by the number of months remaining in the Current Schedule of Contributions, amounting to £20,325 as at 31 December 2020. To buyout the Pension Scheme liabilities at 31 December 2020 the cost was approximately £66,900.

6. Plans for Future Periods

Looking ahead to 2021 we are planning to continue to provide a limited online service (via the church's private Facebook group and Zoom) to those unable to get to the building. In our services we will continue with our varied diet of teaching from both the Old and New Testaments in monthly series which will include topics such as “Speaking truth to power” (from the book of Daniel), “Easter questions” (during Lent) and a look of the Trinity (“Through Mary's Eyes”).

We intend to meet together (on Sundays and as groups) as Government guidelines allow, whether in the Car Park or inside the building, following any social distancing, sanitisation and use of Personal Protective Equipment rules.

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Woodside Baptist Church – Annual Report and Accounts 2020

7. Statement of Trustees’ Responsibilities

The trustees are responsible for preparing the Trustees’ Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England & Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial 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.

.................................................................................................................... Treasurer

.................................................................................................................... Senior Minister

Signed: Mr Robert Newson (Treasurer)

Signed: Mr Steve Calder (Senior Minister)

Signed on Behalf of the Trustees

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Woodside Baptist Church – Annual Report and Accounts 2020

8. Receipts and Payments Account

RECEIPTS AND PAYMENT ACCOUNTS FOR THE YEAR ENDED 31ST DECEMBER 2020

RECEIPTS
Voluntary Income:
Offerings
Donations
Gift Aid
Tax Recovered
Charitable Activities:
Fees & Contributions
Other Income
Investment Income:
Rent Received
Interest Received
Sub total
TOTAL RECEIPTS
PAYMENTS
Ministry:
Pastor Costs
( including Er NI, Pension,Expenses)
Mission:
Evangelism & Youth
Donations and Grants
Speakers
Training
Establishment:
Lighting & Heating
Council Tax & Water
Insurance
Refurbishment & Maintenance
Equipment
Publicity
Telephone & Internet
Postage, Printing & Stationery
Other Expenses
Sub total
TOTAL PAYMENTS
NET OF RECEIPTS/(PAYMENTS)
Transfers between funds
Cash funds @ 31/12/2019
Cash funds @ 31/12/2020
Asset and investment sales, etc
Cleaning & Caretaking
Asset and investment purchases, etc		 Unrestricted
Funds
£
12,666
3,135
26,199
8,802
-
-
-
244		 Unrestricted
Funds
£
12,666
3,135
26,199
8,802
-
-
-
244		 Designated
Funds
£
-
13,410
50
104
1,212
-
-
-		 Designated
Funds
£
-
13,410
50
104
1,212
-
-
-		 Restricted
Funds
£
198
200
14,845
3,423
601
49
15,360
-		 Restricted
Funds
£
198
200
14,845
3,423
601
49
15,360
-		 Endowment
Funds
£
-
-
-
-
-
-
-
-		 Endowment
Funds
£
-
-
-
-
-
-
-
-		 Total
Last
Funds
Year
£
£
12,864
28,426
16,745
5,493
41,094
56,478
12,329
17,800
1,813
7,604
49
769
15,360
18,990
244
370
51,046
-		 14,776
-		 34,676
-		 -
-		 100,498
135,930
-
51,046 14,776 34,676 - 100,498
135,930
34,407
134
369
220
1,080
2,303
3,211
3,645
-
94
31
5,252
877
44
3,791		 -
-
4,658
-
-
1,285
260
-
-
-
-
-
-
-
-		 -
318
17,725
-
-
-
2,083
-
14,714
-
-
-
-
-
-		 -
-
-
-
-
-
-
-
-
-
-
-
-
-
-		 34,407
17,527
452
21,837
22,752
28,633
220
605
1,080
1,976
3,588
4,201
5,554
4,538
3,645
3,570
14,714
29,033
94
1,639
31
138
5,252
7,628
877
787
44
85
3,791
4,437
55,458
-		 6,203
-		 34,840
-		 -
-		 96,501
126,634
-
55,458 6,203 34,840 - 96,501
126,634
(4,412)
(1,509)
34,008		 8,573
(4,782)
39,038		 (164)
6,291
23,029		 -
-
-		 3,997
9,297
-
-
96,075
86,779
28,087 42,829 29,155 - 100,071
96,076

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Woodside Baptist Church – Annual Report and Accounts 2020

9. Statement of Assets and Liabilities

STATEMENT OF ASSETS AND LIABILITIES AS AT 31ST DECEMBER 2020

Cash Funds
Other monetary assets
Investment assets
Assets retained for the charity's
own use
Liabilities		 Unrestricted
Funds
£		 Unrestricted
Funds
£		 Unrestricted
Funds
£		 Designated
Funds
£		 Designated
Funds
£		 Restricted
Funds
£		 Restricted
Funds
£		 Endowment
Funds
£		 Endowment
Funds
£		 Endowment
Funds
£
Current Accounts 28,060 10,726 11,213 -
Deposit Accounts - 32,103 17,746 -
Cash 27 - 196 -
Overpayment atHMRC - - - -
Total cash funds **28,087 ** 42,829 29,155 -
Unrestricted
Funds
£		 Designated
Funds
£		 Restricted
Funds
£		 Endowment
Funds
£
Tax reclaims due 586 - 453
Fund to which asset belongs Cost
£		 Current
Value
£
None
Fund to which asset belongs Cost
£		 Current
Value
£
Main church buildings - 2,990,053
Fund to which liability belongs Cost
£		 Current
Value
£
Pension Deficit - 20,325
Signed by one or two trustees on
behalf of all trustees		 Signature Print name
Date of approval		 Print name
Date of approval
Robert Newson 28/10/2021

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Woodside Baptist Church – Annual Report and Accounts 2020

10. Notes to the Accounts

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31ST DECEMBER 2020

a) Summary of Movements by Fund
Unrestricted Funds
General Fund
Designated Funds
Property Reserve
Thankoffering
Roland Blackwell Funeral Donations
Christmas Offering/Postbox
AV/PA Equipment
Legacies
Church Running Costs
Total
Restricted Funds
Property Fund
Missionary Fund
Sunday Club
Parents & Toddlers
Young Peoples Group
Brigades
WBS
Other
Total
b) Donations & Grants by Recipient
Mark & Emma Handley (OM)
Graham & Natasha Dancy (AIS)
Alajoki (OM)
David & Nanna Lukama (Glo)
Open Doors
Woodside Bereavement Service
Practical Fellowship
West Croydon Refugee Centre
Croydon Churches Floating Shelter
Other
Paul & Jean Dancy
Bahamas Relief
P Perry (WBT)
Joy For Children
Total		 B/fwd
34,008
24,602
3,910
1,044
594
8,500
0
388		 B/fwd
34,008
24,602
3,910
1,044
594
8,500
0
388		 Income
£
51,046
0
0
0
154
0
13,410
1,212		 Expenditure
£
(55,458)
0
(3,910)
0
(748)
0
0
(1,545)		 Expenditure
£
(55,458)
0
(3,910)
0
(748)
0
0
(1,545)		 Expenditure
£
(55,458)
0
(3,910)
0
(748)
0
0
(1,545)		 Transfers
£
(1,509)
0
0
(1,044)
0
(3,738)
0
0		 Transfers
£
(1,509)
0
0
(1,044)
0
(3,738)
0
0		 C/fwd
£
28,087
24,602
0
0
0
4,762
13,410
55
39,038
2,852
6,946
1,073
2,455
2,356
3,767
0
3,579		 14,776
15,360
13,070
889
126
935
732
625
2,939		 (6,203)
(16,797)
(13,700)
(331)
(10)
(180)
(404)
(625)
(2,794)		 (4,782)
4,782
1,509
0
0
0
0
0
0		 42,829
6,196
7,825
1,631
2,571
3,112
4,095
0
3,725
23,028
Unrestricted
Funds
£
0
0
0
0
0
0
369
0
0
0
0
0
0
0		 34,676
Designated
Funds
£
0
0
0
0
0
0
0
374
374
0
0
0
0
0		 (34,841)
Restricted
Funds
£
7,700
5,000
1,040
1,000
973
625
200
31
0
300
300
250
0
0		 6,291
Total
Funds
£
7,700
5,000
1,040
1,000
973
625
569
405
374
300
300
250
0
0		 29,155
Last
Year
£
7,600
4,900
2,340
3,600
1,500
1,236
37
314
314
507
363
0
488
41
369 748 17,419 18,536 23,240

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Woodside Baptist Church – Annual Report and Accounts 2020

11. Independent Examiner's Report

Independent Examiner's Report to the Trustees of Woodside Baptist Church

I report on the accounts of the Church for the year ended 31 December 2020 which are set out on pages 13 to 15.

Respective responsibilities of trustees and examiner

The charity’s trustees are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.

It is my responsibility to:

Basis of independent examiner's statement

My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a “true and fair view” and the report is limited to those matters set out in the statement below.

Independent examiner's statement

In connection with my examination, no matter has come to my attention:

(1) which gives me reasonable cause to believe that, in any material respect, the requirements

• to keep accounting records in accordance with section 130 of the 2011 Act; and

have not been met; or

(2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.

Mr K.C. Fisher, FCA . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Date . . . . . . . . . . . . . . . . . . . 66 Woodside Road Woodside London SE25 5DY

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