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2023-03-31-accounts

Contents Page
Reference and Administrative Details
Trustees'
Report		 2-7
Independent
Auditors'		 Report 8-10
Statement of Financial Activities
Balance Sheet 12
Notes to the Financial Statements 13-25

Rev Nathan
Lee		 Rev Nathan
Lee		 Joint Associate Joint Associate Inducted
to Streatham		 Baptist 03/09/2017
McGuire Minister-Missional Resigned
30/09/2023
Rev Rachel Ann Waitt Joint Associate Inducted
to Streatham		 Baptist 03/09/2017
Minister-Missional Resigned
28/02/2023
Rev Christopher Interim Minister Inducted
to Streatham		 Baptist 12/05/2019
Randolph
Andre-Watson
Mrs Jacqueline Wood Elected Leader Re-elected on 26/01/2020 for 2nd 3-year term,
Ritter which was extended
to		 end on 30/09/2023
Mrs Laura Lock Elected Leader Elected 10/11/2019 for a 3-year term
Term ended 09/11/2022
Ms Jung Khang Elected Leader Elected 26/11/2020 for a 3-year term
Mr Stephen Joseph Elected Leader Elected 26/11/2020 for a 3-year term
Mrs Suzann
Douglas		 Elected Leader Elected 30/09/2021
for		 a 3-year term
Mrs Jennifer
Mary		 Elected Leader Elected 29/09/2022 for a 3-year term
Dowlen
Ms Zeinab Mantau Elected Leader Elected 30/03/2023 for a 3-year term
Mr Keith Charles Elected Leader & Elected 30/03/2023 for a 3-year term
Foster Treasurer

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As at 31/03/2023 As at 31/03/2022
Notes Restated
8
Fixed assets
Tangible assets 4,917,046 4,977,825
4,917,046 4,977,825
Current assets
Debtors 25,623 22,210
Cash at bank and in hand 302,938 266,990
328,561 289,200
Current
liabilities
Creditors: Amounts falling due rn 8 (9,948) (12,348)
one year
Net current assets 316,613 276,852
Total assets less current liabilities 5,235,659 5,254,677
Provision for liabilities and charges 9 (22,700)
Net assets 10 5,235,659 5,231,977
Represented
by Funds
Unrestricted - General fund 5,119,840 5,139,710
Designated funds 11.2 87,940 63,558
Restricted funds 11.3 27,879 28,709
Total funds 5,235,659 5,231,977

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Support Governance 2023 2022
costs costs Total Total
Staff costs 60,029 60,029 51,820
Office running costs
Office supplies and sundry expenses 3,257 3,257 2,636
Office telephone 3,359 3,359 3,090
Subscriptions and licence fees 6,587 6,587 6,311
ITcontract, software 6,731 6,731 6,809
Communications 2,632 2,632 2,756
22,566 22,566 21,602
Governance costs
Audit fees 6,000 6,000 7,500
Bank charges 1,030 1,030 1,045
7,030 7,030 8,545
82,595 7,030 89,625 81,967

Staff cos ts
2023 2022
8
Wages and salaries 185,486 173,447
Social security costs 11,945 11,126
Pension costs 15,508 18,842
Travel 461 823
Housing 4,328 4,448
Telephone 677 1,558
BookAllowance 276 322
Other 300 300
Total 218,981 210,866
The average monthly number of remunerated staff members (FTE)during the year was:
2023 2022
Ministry and Pastoral 4 4.5
Mission 1 1
Premises 1 1
Administration 2 1.4
Total 7.9

Freehold Church Office Kitchen Total
property Equipment Equipment Equipment
E E E E 6
Cost IValuation
At 1 April 2022 restated 4,975,000 135,832 32,070 23,591 5,166,493
Additions 1,225 1,225
Disposals
Revaluation ~60,000 ~60,000
At 31 March 2023 4,915„000 137,057 32,070 23,591 5,107,718
Depreciation and
impairment
At 1 April 2022 133,373 31,704 23,591 188,668
Depreciation charged in the
year 1,638 366 2,004
Eliminated
in		 respect of
disposals
At 31 March 2023 135,011 32,070 23,591 190,672
Carrying
amount
At 31 March 2023 4,915,000 2,046 4,917,046
At 31 March 2022 restated 4,975,000 2,459 366 4,977,825

2023 2022
6
Amounts falling due within one year:
Income tax recoverable (Gift Aid) 15,118 13,300
Other debtors 180 2,430
Prepayments and accrued income 10,325 6,480
25,623 22,210
8. Creditors
2023 2022
Amounts falling due within one year:
Accruals and deferred income 9,948 12,348
9. Provisions for liabilities and charges
2023 2022
6 6
Liability at 1 April 22,700 28,640
Deficiency contributions paid in year (1,744) (5,151)
Interest Cost 659 481
Actuarial
(gains)/losses		 on re-measurement of
liability
Liability at 31 March 22,700
A provision has been included for deficit contributions due to the Baptist Pension Scheme (see note 12).

. Analysis of net as sets between funds
2023 General Designated Restricted Total
Fund Funds Funds
L F
Fund balances at 31 March
2023 are represented by:
Tangible assets
Current assets
Liabihties		 4,904,882
228,493
~73,535		 12,164
73,739
2,037		 26,329
1,550		 4,917,046
328,561
~9,948
5,119,840 87,940 27,879 5,235,659
2022 restated General Designated Restricted Total
Fund balances at 31
2022 are represented
Tangible assets
Current assets
Liabilities		 March
by:		 Fund
6
4,965,661
211,656
~37607,
Fundsf
12,164
50,385
1,009		 Fundsf
27,159
1,550		 4,977,825
289,200
~35,048
5,139,710 63,558 28,709 5,231,977

Balance at Income Expenditure Transfers Gains/(losses) Balance at
1 April 2022 31 March
restated 2023
General fund 5,139,710 345,978 (299,926) (5,922) (60,000) 5,119,840
5,139,710 345,978 (299,926) (5,922) (60,000) 5,119,840
Balance at Income Expenditure Transfers Gains/(losses) Balance at
1 April 31 March
2021 2022
restated restated
E E
General fund 5,074,419 328,346 (306.793) (6,262) 50,000 5,139,710
5,074,419 328,346 (306,793) (6,262) 50,000 5,139,710

Balance at Balance at
1 April 31 March
2022 Income Expenditure Transfers 2023
K
Christian Fields 1,947 31,200 (1,727) (15,000) 16,420
Equipment Accrual 11,750 4,000 15,750
Events 105 105
Fees - Paid to People for Functions 150 700 (650) 200
Harvest
Offering		 50 2,039 (2,039) 50
Photocopier Accrual 6,000 1,500 7,500
Premises Reserve 31,716 (7,153) 16,672 41,235
Christmas 400 (370) 30
Lewin Road 11,840 6,600 (11,790) 6,650
63,558 40,939 23,729 7,172 87,940
Balance at Balance at
1 April 31 March
2021 Income Expenditure Transfers 2022
6 6
Christian Fields 556 16,800 (8,409) (7,000) 1,947
Equipment Accrual 8,750 3,000 11,750
Events 105 105
Fees - Paid to People for Functions 200 700 (700) (50) 150
Harvest Offering 1,392 (1,342) 50
Photocopier Accrual 4,500 1,500 6,000
Premises Reserve 24,152 (1,248) 8,812 31,716
Christmas 164 (164)
Lewin Road 9,113 6,300 (3,573) 11,840
47,376 25,356 (15,436) 6,262 63,558

Balance at Balance at
1 April 31 March
2022 Income Expenditure Transfers 2023
E
Conferences 2,120 (568) 1,552
Jelly Tots 1,284 1,284
Lone Parent 183 (183)
Men's Meetings 139 (59) 80
Mission 725 (663) 65
Speofied Gifts 5,628 4,060 (1.863) (1,250) 6,575
Women's Meetings 684 684
Young Adults Missional Community 1,702 100 (1,002) 800
Youth 1.300 1.250 (1.213) 1,337
Friendly Club 15,666 5,603 (5,767) 15,502
28,709 11,738 11,318 1,250 27,879

Balance at Balance at Balance at
1 April 31 March
2021 Income Expenditure Transfers 2022
6 f
Conferences 2,120 2,120
Jelly Tots 1,284 1,284
Lone Parent 183 183
Men's Meetings 139 139
Mission 270 572 (839)
Spemried
Gifts		 6,059 3,993 (4,424) 5,628
Women's
Meetings		 859 (175) 684
Young Adults
Misslonal		 Community 3,114 155 (1,567) 1,702
Youth 1,300 1,300
Lewin Fair Trade 410 (410)
Fnendly
Club		 10,993 7,179 (2,506) 15,666
26,731 11,899 (9,921) 28,709
~
Conferences —This fund accounts for all church conferences		 income and expenditure;
~
Jelly Tots —This fund accounts		 for all the financial transactions of this caring adults and toddler
gf'ou p
~
Lone Parent —This fund accounts for the financial		 transactions ofthe self-funding Parenting Alone
Group, which aims to support and encourage lone parents.
~
Men's Meetings		 —This fund accounts for all the financial transactions of the Men of Destiny Group
which
is self-funding
and meets		 with the aim of providing support and encouraging spiritual growth
and fellowship for the men ofthe Church through various events;

The key f inancial
assumptions
underlying
the valuations
were as foll		 ows:
RPI price inflation
assumption		 3.20% pa
CPI price inflation
assumption		 2.70% pa
Minimum Pensionable
Income increases (CPI plus 0.5% pa)		 3.20% pa
Assumed investment
returns
-Pre-retirement 2.95%pa
- Post retirement 1.70% pa
Deferred pension increases
- Pre April 2009 3.20% pa
- Post April 2009 2.50% pa
Pension increases
- Main Scheme pension 2.70% pa

A prior year adjustment has been included as follows:
a)
Correction offixed assets to recognise		 properties at market value
Increase
in property		 value 522,000
b)
Include the Baptist Pension Scheme liability on the balance sheet
Increase
in provision		 (22,700)
The net effect on the funds is: ~30
Effect on results for the year ended 31 March 2022 55,940
Effect on funds at 1 April 2021 473,360
529,300