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#
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|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;|||||||||
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|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|
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|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|