2024-12-31-accounts

SHOREDITCH TABERNACLE BAPTIST CHURCH

ANNUAL REPORT FINANCIAL STATEMENTS

FOR THE YEAR TO 31ST DECEMBER 2024

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SHOREDITCH TABERNACLE BAPTIST CHURCH

ANNUAL REPORT and Financial Statements For the Year to 31st December 2024

CONTENTS :	Pages
ANNUAL REPORT 4 Pages
Trustees responsibilities	1-2
Legal and administrative information	3
Statement of Charity's Income and Expenditure	4
Statement of financial activities	5
Balance sheet	6
Notes forming part ofthe financial statements	7-10
Independentexaminer'sreport	11

1

Minister’s Report to the Trustees for the Year Ending December 31st, 2024

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As I reflect on 2024, I see a year marked by mixed blessings, yet the work of the Lord
here in Tower Hamlets and Shoreditch has continued to move steadily forward. We are
privileged to serve people from all walks of life who together form this wonderful,
worshipping community.
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Our dedicated members have continued to serve faithfully, ensuring that our Sunday services remain vibrant and welcoming. With a growing band of musicians, regular volunteer support, and at times the joy of special choir performances, our worship has been uplifting and inspiring.

We have, however, continued to experience fluctuations in regular attendance. The nature of our refugee community means that while some settle here for a season, others successfully gain permission to remain in the UK and are relocated to other parts of the country. This transition is often bittersweet, as we invest so much time, love, and energy into building relationships, only to say goodbye. Yet, even with these changes, the Lord has blessed us with a strong and faithful core of members.

Our staff have worked exceptionally hard and continue to grow stronger together as a team. One particular blessing this year has been the return of Louise, who moved on in 2023 but has now rejoined us working remotely. This has been invaluable, especially as recruiting new team members remains challenging.

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I am also deeply grateful to our trustees, who serve faithfully and consistently in their roles. Another significant highlight of 2024 has been our close work with Transform Shoreditch, helping to establish a new children’s home in our community. While challenges remain as we seek to faithfully walk in the will of God, we continue to move forward with hope and perseverance.

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Despite the movement of many refugees who, after securing the right to remain in the UK, have been relocated to other areas, the Lord has enabled us to maintain a steady core membership of around 55 people. Average Sunday attendance in 2024 ranged between 62 and 82, with a vibrant mix of regular members, newcomers, and visitors.

This year we piloted two new initiatives, Tab Create and Tab Tots. While both had potential, limited resources meant they could not be developed as fully as we had hoped. Tab Create continued for a year, though it did not see significant growth.

Our Family Night, which forms the heart of our discipleship programme, has continued to thrive. We have run Alpha courses alongside multi-level discipleship tracks, seeing people grow deeper in their faith. Our monthly Encounter Service remains a powerful time in God’s presence, drawing people into deeper worship and ministry.

In addition, our weekly Farsi-speaking fellowship has continued to meet faithfully, providing teaching, worship, and pastoral support for our Persian-speaking community.

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• e Khatereh Rouin was officially ordained, marking a significant milestone in her ministry

• e TransformUK’s special therapeutic home for children in Shoreditch completed and ready to open, awaiting OFSTED approval

• e Ongoing services and gatherings, including Christmas and other special services, where we grow together as a church family

• e 20 people baptised, publicly declaring their faith in Christ

• e Several individuals and families rehoused with practical help from the church e Steady increase in members volunteering and stepping into ministry

• « Growth in worship and teaching teams, with new people developing their gifts e Hall and room bookings have shown steady growth throughout the year, following a quieter period post-pandemic. This encouraging trend is helping us engage more with the community, generate income for ministry, and make good use of our facilities.

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As I look back over 2024, I am grateful for the faithfulness of God and the perseverance of His people. This year has reminded me that the journey of the church is not always one of rapid growth or dramatic change, but of steady, faithful steps taken in obedience to the Lord. We have seen lives touched, faith deepened, and the body of Christ strengthened as we continue to serve Him together.

A particular joy has been continuing and completing our teaching series on the Book of Acts. This journey through the early church has been both inspiring and challenging, reminding us of our call to be Spirit-led witnesses in our community and to live with the same boldness, unity, and generosity as the first believers. Following this, we also taught on the Fruit of the Spirit, encouraging the church to grow in love, joy, peace, patience, kindness, goodness, faithfulness, gentleness, and self-control, so that our character reflects Christ in every area of life.

We believe that Tab Church is in this prophetic “third year” transformation. It is a season where, as Isaiah 37:30 says, we “will plant crops and harvest them” and “‘tend to vineyards and eat their fruits.” This is a time to steward well the new resources and opportunities the Lord has entrusted to us. In practical terms, this growth means three things: strengthening our foundation, expanding our reach, and cultivating fruit that will last for generations to come.

One Scripture that has encouraged me this year is Galatians 6:9 — Let us not become weary in doing good, for at the proper time we will reap a harvest if we do not give up. Even in seasons where fruit is not immediately visible, we know that the Lord is at work beneath the surface, preparing the harvest to come.

I believe the Lord’s prophetic encouragement to us for the coming year is to keep sowing, keep loving, and keep believing that He will complete the good work He has begun among us. This is His church, and we can trust Him to build it in His way and in His time.

Rev. Georgina Stride

Senior Minister of Shoreditch Tabernacle Baptist Church

SHOREDITCH TABERNACLE BAPTIST CHURCH Trustees Responsibilities for year ended 31% December 2024

The Trustees are pleased to present their Annual Report together with the Financial Statements of the charity for the year ended 31* December 2024. Legal and administrative information set out on pages 1 and 2 form part of this report. The Financial Statements comply with the current statutory requirements and the Statement of Recommended Practice- Accounting and Reporting by Charities (as amended).

Charitable Objectives and activities

The Church is a meeting place where people from many cultures and backgrounds come together ina spirit of friendship and acceptance of all people’s backgrounds no matter what the person may or may not have done or hardship faced in life. We seek to be of service both practically and through the Church charitable projects based in the Tab Centre complex. These projects seek to be socially inclusive for all people, providing services that target poverty, and discrimination. The Church and Tab Centre are based in an area of high social need and poverty on the edge of the City of London in Shoreditch.

Reserves Policy

it is the intention of the Church to maintain a level of reserves over the forthcoming years.

Risk management

The Trustees have examined the major strategic, business and operational risks which the charity faces and confirm that systems have been established to enable regular reports to be produced so that the necessary steps can be taken to lessen these risks.

Trustees’ responsibilities in relation to the Financial Statements

Law applicable to charities in England and Wales require the Trustees to prepare financial statements for each financial year which give a true and fair view of the charity’s financial activities during the year and of its financial position at the end of the year. In preparing those financial statements the Trustees are required to: select suitable accounting policies and then apply them consistently; make judgements and estimates that are reasonable and prudent; state whether applicable accounting standards and statements of recommenced practice have been followed subject to any departures disclosed and explained in the financial statements; and prepare the Financial Statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in business. The Trustees are responsible for keeping 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. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention of fraud and other irregularities.

/ cont'd

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SHOREDITCH TABERNACLE BAPTIST CHURCH

Trustee responsibilities for year ended 31° December 2024 (continued)

Independent examination

A resolution will be proposed at the Annual General Meeting that Mr R Brown will be re-appointed as the independent examiner to the charity.

Connected charities

The London Baptist Property Board Limited acts as custodian trustee for the property owned by the Church. The Church is affiliated to the Baptist Union of Great Britain and the London Baptist Association.

Grant funding

We are grateful to all of cur funders who generously make our work possible. Thank you.

Georgina Stride Chair of the Trustees

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SHOREDITCH TABERNACLE BAPTIST CHURCH

Legal and administrative information at 31st December 2024

Status :

Shoreditch Tabernacle Baptist Church is a registered charity under the provision of SI 2002/1958. It is governed by the Rules and Constitution, which were last updated in November 2008.

Trustees :

The members of the Diaconate are the charity trustees of the Shoreditch Tabernacle Baptist Church ("the Church") and have all served throughout the year and to the date of the report, except where indicated :

Georgina Stride (Chair) Stephen Stride

James Olanipekun Maggie Atkinson Anita Barzey Dickson Osagie

Treasurer :

Stephen Stride

Charity Number : 1132126

Operation address :

3 Godfrey Place London E2 7NT

Independent Examiner: Roger Brown Main Bankers : CAF Bank Ltd

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SHOREDITCH TABERNACLE BAPTIST CHURCH

STATEMENT OF GENERAL FUND INCOME & EXPENDITURE For the Year to 31st December 2024

	2024	2023
	£	£
INCOME
Collections	17,796	29,948
Grants and donations	76,397	94,774
Activities for generating funds	28,960	32,454
Investment income	96	84
Hire of premises	196,084	160,591
Total Incoming Resources	319,333	317,851
EXPENDITURE
Project & admin staff costs	148,327	148,822
General running costs and fundraising	145,901	137,294
Other related expenses	1,680	1,175
Total Resources Expended	295,908	287,291
NETINCOMING/-OUTGOINGRESOURCES	23,425	30,560

The above information is derived from both Unrestricted and Restricted funds. TransformUK and TAB have formed a partnership named TransformShoreditch. As approved by the Trustees at their AGM on 21st September 2025

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SHOREDITCH TABERNACLE BAPTIST CHURCH

Statement of financial activities for the year ended 31st December 2024

Generalfunds		Unrestricted	Restricted	Total	Year
		Funds	Funds	2024	2023
	Notes	£	£	gE	E
All Incoming resources
General funds:
Collections		17,796	0	17,796	29,948
Grants and donations		76,397	0	76,397	94,774
Activities for generating funds		28,960	0	28,960	32,454
investment income		96	0	96	84
Hire ofpremises		196,084	0	196,084	160.5917
Total Incoming Resources		319,333	6)	319,333	317,851
All Resources expended
Charitable activities		294,228	0	294,228	286,116
Governance costs		1,680	0	1,680	1,175
Total Resources Expended	2	295,908	0	295,908	287,291
Net incoming/-outgoing resources fortheyear		23,425	0	23,425	30,560
Total funds broughtforward	70	80,944	i)	80,941	50,381
Utilised as Designated Funds	17,12	0	0	0	0
TotalGeneralFunds		104,366	0	104,366	80,941

These funds will be utilised on 2025 TAB projects and activities along with the upkeep of the TAB Centre.

All of the results relate to continuing activities.

The notes on pages 7 to 10 form part of these financial statements

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SHOREDITCH TABERNACLE BAPTIST CHURCH

Balance Sheet at 31st December 2024

			2024		2023
	Notes	£	£	£	£
Fixed Assets
Tangible assets	4		4,598,925		4,598,795
Investments	7		0		0
			4,598,925		4,598,795
Current Assets
Debtors	8	386,303		415,189
Bank and cash in hand		11,741		67,201
		398,044		482,390
Creditors: due within one year	9	-134,138		-116,360
Net CurrentAssets			263,906		366,030
Creditors: due afterone year	9a		-296,305		-297,886
TotalAssets			4,566,526		4,666,939
Funds
Unrestricted funds	10		104,366		80,941
Restricted funds	17		0		0
General funds			104,366		80,941
Designated and utilised funds	12		4,462,160		4,585,998
TotalFunds			4,566,526		4,666,939

Approved by the Deacons at their 21st September 2025 AGM and signed on their behalf :

Name Georgina Stride

Status Chair

The notes on pages 7 to 10 form part of these financial statements.

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SHOREDITCH TABERNACLE BAPTIST CHURCH Notes to the financial statements for the year ended 31st December 2024

1 Accounting policies

The principal accounting policies which are adopted consistently in the preparation of the financial statements are set out below.

a} Basis of accounting

The financial statements have been prepared under the historical cost convention as modified by the inclusion of donated assets at their estimated market value in the year of receipt, in accordance with applicable accounting standards including the latest Statement of Recommended Practice, Accounting and Reporting by Charities (SORP 2005).

6) Incoming resources

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||||||||||||||||| |---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---| |-|Charitable|trading|activities| |income|from|the|rental|of|haii|space|is|credited|in|the|year|to|which|it|relates.| |-|Legacies|and donations| |Legacies|and|donations|are|credited|in|the|year|in|which|they|are|received.| |-|Grant income| |Grants|income|is|credited|in|the|year|to|which|it|relates.| |~|Investment|income| |investment|income|is|credited|in|the|year|in|which|it|is|received.| |-|Interest|receivable| |Interest|is|credited|in|the|year|in|which|it|is|received.| |-|Hire|of|premises| |income|is|credited|in|the|year|in|which|it|relates|

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c) Resources expended

Resources expended are included in the Statement of Financial Activities on an accruals basis, inclusive of any VAT which cannot be recovered.

Allocation of expenditure

Certain expenditure is directly attributable to specific activities and has been included in those cost categories. Certain other costs, which are attributable to more than one activity, are apportioned across categories on the basis of an estimate of time spent by staff on those activities.

ad) Tangible fixed assets and depreciation

Tangible fixed assets are included in the balance sheet at cost. No depreciation has been charged as the Trustees consider that the market value exceeds the value shown in the Balance Sheet for Land and Buildings nor Equipment purchased not yet used - (see also note 4).

e) Hire purchase and lease transactions

Rentals under operating leases are charged to the Statement of Financial Activities as incurred over the term of the agreement.

i) VAT

The Church registered for VAT in March 2021. Prior expenditure included VAT where appropriate.

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SHOREDITCH TABERNACLE BAPTIST CHURCH

Notes to the financiai statements for the year ended 31st December 2024 (continued)

4 Accounting policies (continued)

g) Fund Accounting

The funds held by the charity are either -

Unrestricted general funds - these are funds which can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds - these are funds that can only be used for particular restricted purposes within the objectives of the charity. Restrictions arise when specified by the donor or when funds are raised for particular specific purposes.

Designated funds - these are funds set aside by the trustees out of unrestricted general funds for specific future purposes or projects.

2	Allocation of resources expended
		Staff	Admin/FR.		Total	Total
		cost	expenses	Other	2024	2023
		cs	£	£	£	£
	Charitable expenditure
	Church	58,317	15,402	9	73,719	53,682
	Tab Centre	28,618	29,653	0	68,271	38,145
	Project expenses	76,392	85,846	0	162,238	194,289
	Governance costs	0	0	1,680	1,680	£775
		163,327	130,901	1,680	295,908	287,291
	2023	148,822	137,294	1475	287,291
3	Staff numbers and costs
					2024	2023
	Siaffcosts:	(see note 13)			z	£
	Wages and salaries				142,818	135,450
	Secial security costs				7,927	1,763
	Pension costs				12,582	11,609
	(see note 13)				163,327	146 822
	The average number offull-time equivalent employees (including			casual and part time staff}
	during the yearwas as follows:
					2024	2023
					£	£
	Church				2.0	2.0
	Tab Centre				1.0	1.0
	Projects				4.6	3.5
					7.5	6.5

There were no employees with emoluments above £60,000.

Georgina Stride received Minister's salary during the year . None of the other Trustees received any remuneration.

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SHOREDITCH TABERNACLE BAPTIST CHURCH

Notes to the financial statements for the year ended 31st December 2024 (continued)

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||||||||||||| |---|---|---|---|---|---|---|---|---|---|---|---| |4|Tangible|fixed|assets| |Land|and|2024|2023| |Cost|or|valuation|Equipment|Buildings|£|£| |At|1st|January|12,797|4,343,152|4,355,949|4,355,949| |Additions|see|note|below|130|300,000|306,136|300,000| |At|31st|December|12,927|4,643,152|4,656,079|4,655,949| |Depreciation| |At|ist|January|ie|57.154|57,154|57,154| |Provision|for|the|year|-|see|note|P7,1(d)|0|0|0|2]| |At|31st|December|0|57,154|57,154|57,154| |Net book|value| |At|31st|December|-|see|note|beiow|12,927|4,585,998|4,598,925|4598,795| |The|Church|is|the|owner of the|land and buildings|which|are|duly|registered|with|the| |London|Baptist|Property Board|as|their|Trust|Corporation.| |The|additions|in|2023|were|the|completion|costs|for the|New|Church.| |The|property|designated|for use|as|a|Childrens|Home|was|revalued.|

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||||||||||| |---|---|---|---|---|---|---|---|---|---| |The|net book|value|of Land and|Buildings|is|made|up|as|follows:| |2024|2023| |£|£| |Land|1,230,000|1,230,000| |Buildings|3,355, 998|3,355,998| |4,585,998|4,585,998| |5|Net|Incoming|Resources| |This|is|stated|after|charging|:|2024|2023| |=|£| |Depreciation|(see|note|1(d))|0|0| |Independent|examiner's|fees|-|external|4,475|1,775|

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6 Taxation

The Charity is exempt from corporation tax on its charitable activities

fi Investments

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|||||||||| |---|---|---|---|---|---|---|---|---| |2024|2023| |All|UK:|£|E| |Unlisted|Investments|-|Sold|during|the|year|0|0| |Property|sale|praceeds|(restricted)|0|0| |ae|ee|

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SHOREDITCH TABERNACLE BAPTIST CHURCH

Notes to the financial statements for the year ended 31st December 2024 (continued)

8	Debtors					2024	2023
						£	£
	Prepayments - Grant for Childrens Home					250,000	250,000
	Other Debtors					136,303	765,189
						386,303	415,189
9	Creditors: amounts falling due within one year					2024	2023
						£	£
	Other creditors					126,809	109,035
	Accruals and deferred income					7,329	7,325
						134,138	116,360
9a	Creditors: amounts falling due afterone		year			2024	2023
						E	£
	Long Term Property Loan					296,305	297,886
						296,305	297,886
10	Unrestricted funds	Balance		incoming	Resources	Utilised as	Baiance
		at 1st		resources	expended	Designated	at 31st
		January					December
		2024					2024
			£	£	a	£	£
	Investment reserve		0	0	0	0	0
	General fund	80,941		319,333	295,908	8)	104,366
		80,941		319,333	295,908	0	104,366

Expenditure on investments & building assets are deemed to be designated funds (see note 12).

11	Restricted	funds	Balance	Incoming	Resources	Utilised as	Balance
			at ist	resources	expended	Designated	at 3ist
			January				December
			2024				2024
			£	£	£	£	£
	Specific	donations	0	0	0		0

12 Designated funds

It was agreed that property related assets should be deemed as designated rather than unrestricted. The property is the Church and the TAB Centre - see Note 4.

13 Connected party transactions

TransformUK, an independent project partner of TAB, employs the son of the Minister.

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SHOREDITCH TABERNACLE BAPTIST CHURCH

independent examiner’s report to the trustees of Shoreditch Tabernacle Baptist Church

This is my report on the financial statements of Shoreditch Tabernacle Baptist Church for the year ended 31st December 2024, which are set out in pages 4 to 11.

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. The charity's relevant income remains below £250,000 and | have the requisite ability and practical experience to carry out a competent examination.

It is my responsibility to:

• e examine the accounts under section 145 of the 2011 Act;

• to follow the procedures laid down in the general Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act: and

• e to state whether particular matters have come to my attention.

Basis of independent examiner’s report

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 ail 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:

• e to keep accounting records in accordance with section 130 of the 2011 Act 20:

• e to prepare accounts which accord with the accounting records and comply with the accounting requirements of the 2011 Act

• or

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

Signed: R. BROWN

Dated: 21%t September 2025

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