Charity Registration No. 1132950
ABBEY ROAD BAPTIST CHURCH
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2020
ABBEY ROAD BAPTIST CHURCH
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
Pastor Iain Batty S Trotter Amir Arjomand (Appointed 1 November 2020) Tursunbubu Emmott (Appointed 1 November 2020)
Charity number
1132950
Independent examiner
SBM Associates Limited 24 Wandsworth Road London SW8 2JW
ABBEY ROAD BAPTIST CHURCH
CONTENTS
| Page | |
|---|---|
| Trustee's report | 1 - 3 |
| Statement of Trustee's responsibilities | 4 |
| Independent examiner's report | 5 |
| Statement of financial activities | 6 |
| Balance sheet | 7 |
| Notes to the financial statements | 8 - 16 |
ABBEY ROAD BAPTIST CHURCH
TRUSTEE'S REPORT FOR THE YEAR ENDED 31 DECEMBER 2020
The trustees present their report and financial statements for the year ended 31 December 2020.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Charities Act 2011 and “Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)” (as amended for accounting periods commencing from 1 January 2016)
Objectives and activities
To advance the Christian religion in the United Kingdom and overseas by following and proclaiming the principle truths of the Bible (Old and New Testaments). In furtherance of this the Church may arrange public and other meetings of worship, praise, evangelism, teaching, study, encouragement and prayer, it may plant new congregations in any locality and it may support other Christians, churches or organisations sharing these objectives.
To relieve poverty both in this country and overseas by any means (e.g. donations, provision of goods or services, contributions, loans and advances with or without interest).
Volunteers
Many volunteers give up their time to help at the branches, particularly at weekends and in the evenings. We are greatly indebted to these volunteers for their commitment and support.
Public Benefit
The trustees have referred to the Charity Commission's general guidance on public benefit when reviewing the Charity's aims and objectives and in planning its future activities. In particular the trustees consider how planned activities will contribute to the aims and objectives of the Charity .
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.
Achievements and performance
Covid19
The national lockdown(s) and social restrictions following the pandemic lead to online worship and support. Where possible the church was opened for private prayer for our community.
Bible Discussion
The bible discussion group on Tuesday evenings is consistently attended by at least half a dozen people (via zoom).
Prayer Meeting
The group meets every Friday evening for prayer and fellowship. It is well attended and brings together members from several local churches (via zoom).
DAR Russian School
Our relationship with DAR Russian School continues. They are using the hall and some classrooms downstairs during the week.
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ABBEY ROAD BAPTIST CHURCH
TRUSTEE'S REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020
Assistance through accommodation
Our two accommodation buildings continue to offer affordable accommodation in areas with easy access to the centre of London. Affordable accommodation is an increasing issue in London. In addition to our set affordable rents, we also have the ethos of helping residents with lower rents if we are able to.
This period we have helped the following:
Mr Dragan Mikulic - we reduced his rent as he continues to manage his poor physical health.
Assistance through other support
We have supported members and attendees seeking asylum, especially those fleeing persecution for maintaining or following their Christian faith. We continue to support Nahid Hoggati, Eduardo B and AHA through attending court appearances and helping with paperwork.
We have given support to Kilburn Salvation Army through our harvest time donations provided by the congregation and local community. We also support the Salvation Army through our Christmas present shoe box appeal and quality recycled clothes collections.
Partnerships
Pastor Iain has been called as Chaplain of Bournemouth Rugby Club which may be an opportunity to plant a church in the future.
We continue to support the work of Christ Centred Ministry Church in General Santos City in The Philippines, and First Baptist Church of Farmersville, in Texas. These ministries also continue to support ARBC through prayer and mission.
Financial review Reserves policy
The trustees have considered the level of reserves they wish to retain, appropriate to the charity's needs. This is based on the charity's size and the level of financial commitments held. The trustees aim to ensure the charity will be able to continue to fulfil its charitable objectives even if there is a temporary shortfall in income or unexpected expenditure. The trustees will endeavour not to set aside funds unnecessarily
The trustees has assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.
Plans for future
Our vision for all long term attendees at ARBC is to continue to assist everybody in discovering their particular mission, through their specific gifts. We feel this is an important focus in helping the church itself to be a more effective force for good within the local community, while also assisting our members in spiritual and personal growth.
Structure, governance and management Governing document
The charity is governed by the constitution adopted on 13 September 2009 and constitutes an unincorporated charity.
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ABBEY ROAD BAPTIST CHURCH
TRUSTEE'S REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020
The trustees who served during the year and up to the date of signature of the financial statements were: Pastor Iain Batty J Nottingham (Resigned 12 October 2020) J Junio Smyth (Resigned 13 October 2020) S Trotter D Minei (Resigned 12 October 2020) Amir Arjomand (Appointed 1 November 2020) Tursunbubu Emmott (Appointed 1 November 2020)
Recruitment and appointment of new trustees
Trustees are identified by the Deacons and elected at the Annual General Meeting as per the charity governing document .
Induction and training of new trustees
The chairman is responsible for the induction and training of trustees.
Reference and administratice details Registered Charity number
1132950
Principal address
Abbey Road Baptist Church 14-16 Abbey Road St Johns Wood London NW8 9BD
Trustees
Rev I Batty J Nottingham J Junio Smyth S Trotter D Minei
Independent examiner
SBM Associates Limited 24 Wandsworth Road London SW8 2JW
The Trustee's r eport was approved by the Board of Trustees.
S Trotter
Trustee Dated: 19 July 2021
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ABBEY ROAD BAPTIST CHURCH
STATEMENT OF TRUSTEE'S RESPONSIBILITIES
FOR THE YEAR ENDED 31 DECEMBER 2020
The trustees are responsible for preparing the Trustee's 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 and 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 year.
In preparing these financial statements, the trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charities SORP;
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make judgements and estimates that are reasonable and prudent;
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state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The trustees are responsible for keeping sufficient 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.
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ABBEY ROAD BAPTIST CHURCH
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF ABBEY ROAD BAPTIST CHURCH
I report to the trustees on my examination of the financial statements of Abbey Road Baptist Church (the charity) for the year ended 31 December 2020.
Responsibilities and basis of report
As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act).
I report in respect of my examination of the charity’s financial statements carried out under section 145 of the 2011 Act . In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner's statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
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1 accounting records were not kept in respect of the charity as required by section 130 of the 2011 Act; or
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2 the financial statements do not accord with those records; or
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3 the financial statements do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.
SBM Associates Limited Pauline McAlpine 24 Wandsworth Road London SW8 2JW
Dated: 19 July 2021
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ABBEY ROAD BAPTIST CHURCH
STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2020
| Unrestricted Restricted funds funds 2020 2020 Notes £ £ Income from: Donations , legacies & grants 3 18,044 - Charitable activities 4 168,416 - Investments 5 155 - Total income 186,615 - Expenditure on: Charitable activities 6 227,946 - Other 11 - - Total resources expended 227,946 - Net expenditure for the year/ Net movement in funds (41,331) - Fund balances at 1 January 2020 522,318 494,243 Fund balances at 31 December 2020 480,987 494,243 |
TotalUnrestricted funds 2020 2019 £ £ 18,044 8,366 168,416 193,823 155 760 186,615 202,949 227,946 257,620 - 102 227,946 257,722 (41,331) (54,773) 1,016,561 577,091 975,230 522,318 |
Restricted funds 2019 £ - - - - - - - - 494,243 494,243 |
Total 2019 £ 8,366 193,823 760 202,949 257,620 102 257,722 (54,773) 1,071,334 1,016,561 |
|---|---|---|---|
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
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ABBEY ROAD BAPTIST CHURCH
BALANCE SHEET
AS AT 31 DECEMBER 2020
| Notes Fixed assets Tangible assets 12 Current assets Debtors 13 Cash at bank and in hand Creditors: amounts falling due within one year 14 Net current assets Total assets less current liabilities Income funds Restricted funds Unrestricted funds |
2020 £ £ 843,954 6,877 132,917 139,794 (8,518) 131,276 975,230 494,243 480,987 975,230 |
2019 £ £ 870,238 6,353 149,125 155,478 (9,155) 146,323 1,016,561 494,243 522,318 1,016,561 |
|---|---|---|
The financial statements were approved by the Trustees on 19 July 2021
Pastor Iain Batty Trustee
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ABBEY ROAD BAPTIST CHURCH
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020
1 Accounting policies
Charity information
Abbey Road Baptist Church is an unincorporated charity, registered number 1132950. The registered address is 14-16 Abbey Road, St Johns Wood, London, NW8 9BD.
1.1 Accounting convention
The financial statements have been prepared in accordance with the charity's governing document, the Charities Act 2011 and “Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)” (as amended for accounting periods commencing from 1 January 2016). The charity is a Public Benefit Entity as defined by FRS 102.
The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.
The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.
The financial statements are prepared in sterling , which is the functional currency of the charity. Monetary a mounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2 Going concern
At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3 Charitable funds
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.
1.4 Incoming resources
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
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ABBEY ROAD BAPTIST CHURCH
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020
1 Accounting policies
(Continued)
1.5 Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Freehold land and buildings 2% straight line basis Plant and equipment 20% straight line basis Computers 33% straight line basis
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in net income/(expenditure) for the year.
1.6 Impairment of fixed assets
At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any ) .
1.7 Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.8 Financial instruments
The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
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ABBEY ROAD BAPTIST CHURCH
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020
1 Accounting policies
(Continued)
Basic financial liabilities
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future p aymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Derecognition of financial liabilities
Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.
1.9 Employee benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
Pension costs and other post-retirement benefits
The church is an employer participating in a pension scheme known as the Baptist Ministers' Pensions Scheme and contributes at rates set by the scheme actuary and advised to the charity by the scheme administrator. The scheme is a multi-employer scheme. Due to the number of contributing employers the church is unable to identify it s share of the underlying assets and liabilities of the scheme. The contributions to the scheme are therefore accounted for as they fall due.
2 Critical accounting estimates and judgements
In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
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ABBEY ROAD BAPTIST CHURCH
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020
3 Donations , legacies & grants
| Unrestricted | Unrestricted | Unrestricted | ||
|---|---|---|---|---|
| funds | funds | |||
| 2020 | 2019 | |||
| £ | £ | |||
| Donations and gifts | 4,316 | 8,366 | ||
| CJRS grants received | 13,728 | - | ||
| 18,044 | 8,366 | |||
| Charitable activities | ||||
| Rent from | Church hire | Total | Total | |
| Hostels | and activities | 2020 | 2019 | |
| 2020 | 2020 | |||
| £ | £ | £ | £ | |
| Sales within charitable activities | 108,535 | 59,881 | 168,416 | 191,784 |
| Other income | - | - | - | 2,039 |
| 108,535 | 59,881 | 168,416 | 193,823 |
4 Charitable activities
5 Investments
| Unrestricted | Unrestricted | |
|---|---|---|
| funds | funds | |
| 2020 | 2019 | |
| £ | £ | |
| Interest receivable | 155 | 760 |
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ABBEY ROAD BAPTIST CHURCH
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020
6 Charitable activities
| Staff costs Depreciation and impairment Repairs and maintenance Insurance Light and heat Telephone Office and administration costs Church travel and motor expenses Bank charges Hospitality Legal and professional fees Share of governance costs (see note 7) 7 Support costs Support costs Governance costs £ £ Accountancy - 4,388 - 4,388 Analysed between Charitable activities - 4,388 8 Net movement in funds Net movement in funds is stated after charging/(crediting) Depreciation of owned tangible fixed assets |
Hostels 2020 £ - - 15,521 - - - - - - - - 15,521 - 15,521 2020 £ 4,388 4,388 4,388 |
Church Total 2020 2020 £ £ 71,030 71,030 26,282 26,282 42,325 57,846 8,331 8,331 13,942 13,942 4,527 4,527 24,298 24,298 9,343 9,343 60 60 6,909 6,909 990 990 208,037 223,558 4,388 4,388 212,425 227,946 Support costs Governance costs £ £ - 2,895 - 2,895 - 2,895 2020 £ 26,282 |
Total 2019 £ 71,790 26,994 37,025 8,090 22,149 6,358 34,049 20,335 92 27,843 - 254,725 2,895 257,620 2019 £ 2,895 2,895 2,895 2019 £ 26,994 |
|
|---|---|---|---|---|
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ABBEY ROAD BAPTIST CHURCH
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020
9 Employees
The average monthly number of employees during the year was:
| 2020 | 2019 | |
|---|---|---|
| Number | Number | |
| 1 | 1 | |
| Employment costs | 2020 | 2019 |
| £ | £ | |
| Wages and salaries | 48,250 | 48,250 |
| Social security costs | 3,267 | 2,475 |
| Other pension costs | 19,513 | 21,065 |
| 71,030 | 71,790 |
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ABBEY ROAD BAPTIST CHURCH
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020
10 Pension Commitments
The Church is an employer participating in a pension scheme known as the Baptist Pension Scheme (“the Scheme”). The Scheme is a separate legal entity which is administered by the Pension Trustee (Baptist Pension Trust Limited).
The Minister is, which is not contracted out of the State Second Pension.
From January 2012, pension provision is being made through the Defined Contribution (DC) Plan within the Scheme. In general, members pay 8% of their Pensionable Income and employers pay 6% of members’ Pensionable Income into individual pension accounts, which are operated and managed on behalf of the Pension Trustee by Legal and General Life Assurance Society Limited. In addition, the employer pays a further 4% of Pensionable Income to cover Death in Service Benefits, administration costs, and an associated insurance policy which provides income protection for Scheme members in the event that they are unable to work due to long-term incapacity. This income protection policy has been insured by the Baptist Union of Great Britain with Unum Limited. Members of the Basic Section pay reduced contributions of 5% of Pensionable Income, and their employers also pay a total of 5%.
Benefits in respect of service prior to 1 January 2012 are provided through the Defined Benefit (DB) Plan within the Scheme. The main benefits for pre-2012 service were a defined benefit pension of one eightieth of Final Minimum Pensionable Income for each year of Pensionable Service, together with additional pension in respect of premiums paid on Pensionable Income in excess of Minimum Pensionable Income. The Scheme, previously known as the Baptist Ministers’ Pension Fund, started in 1925, but was closed to future accrual of defined benefits on 31 December 2011.
A formal valuation of the Defined Benefit (DB) Plan was performed at 31 December 2016 by a professionally qualified Actuary using the Projected Unit Method. The market value of the DB Plan assets at the valuation date was £219 million.
The valuation of the DB Plan revealed a deficit of assets compared with the value of liabilities of £93 million (equivalent to a past service funding level of 66%). As a result of the valuation, contributions from the individual employers will remain at previously agreed levels (increasing each year in line with increases in the Minimum Pensionable Income), and will continue until 31 December 2028. In addition, the Union will make a number of one-off contributions totalling £33.5m by 31 December 2023. The key financial assumptions underlying the valuation were as follows:
RPI price inflation assumption 3.50% pa CPI price inflation assumption 2.75% pa
Minimum Pensionable Income increases (CPI plus 0.75% pa) 3.50% pa Assumed investment returns
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Pre-retirement 3.50% pa
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Post retirement 2.25% pa
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Deferred pension increases
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Pre April 2009 3.50% pa
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- Post April 2009 2.50% pa Pension increases
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Main Scheme pension Pre April 2006 3.60% pa
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Main Scheme pension Post April 2006 2.40% pa
As there is a large number of contributing employers participating in the Scheme, the Church is unable to identify its share of the underlying assets and liabilities of the scheme. Accordingly, due to the nature of the Scheme, the profit and loss charge for the period represents the employer contributions payable. The total pension cost for the Church is £20,201 (2017 £20,075).
The next actuarial valuation of the DB Plan within the Scheme is due to take place not later than as at 31 December 2019. The report is not yet available.
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ABBEY ROAD BAPTIST CHURCH
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020
11 Other
| Charitable donations Tangible fixed assets Freehold land and buildings £ Cost At 1 January 2020 1,356,866 At 31 December 2020 1,356,866 Depreciation and impairment At 1 January 2020 490,446 Depreciation charged in the year 24,507 At 31 December 2020 514,953 Carrying amount At 31 December 2020 841,913 At 31 December 2019 866,421 |
Unrestricted funds 2020 - Plant and equipment Computers £ £ 377,538 2,270 377,538 2,270 375,235 757 1,018 757 376,253 1,514 1,285 756 2,304 1,513 |
Total 2019 £ 102 Total £ 1,736,674 1,736,674 866,438 26,282 892,720 843,954 870,238 |
|---|---|---|
12 Tangible fixed assets
The freehold property at Mutrix Road has been valued by the trustees based on an open market value basis by reference to market evidence of transaction prices for similar properties.
The historical cost of the freehold land and buildings is £893,716. The equivalent depreciation charge on historical cost of land and buildings would be £15,244 and the historical cost net book value is £548,802.
13 Debtors
| Amounts falling due within one year: Other debtors Prepayments and accrued income |
2020 £ 3,106 3,771 6,877 |
2019 £ 3,081 3,272 6,353 |
|---|---|---|
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ABBEY ROAD BAPTIST CHURCH
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020
14 Creditors: amounts falling due within one year
| Other taxation and social security Payments received on account Trade creditors Accruals and deferred income 15 Analysis of net assets between funds Unrestricted funds Restricted funds 2020 2020 £ £ Fund balances at 31 December 2020 are represented by: Tangible assets 349,711 494,243 Current assets/ (liabilities) 131,276 - 480,987 494,243 |
TotalUnrestricted funds 2020 2019 £ £ 843,954 375,995 131,276 146,323 975,230 522,318 |
2020 £ 1,350 5,818 - 1,350 8,518 Restricted funds 2019 £ 494,243 - 494,243 |
2019 £ - 7,273 532 1,350 9,155 Total 2019 £ 870,238 146,323 1,016,561 |
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16 Related party transactions
During the year, Rev Iain Batty incurred expenses on behalf of Abbey Road Baptist Church of £37,676 (2019: £68,138).
The total cost to the charity in the year of the maintenance of the manse , being the accommodation provided to Rev. Batty , was £ 5,811 (201 9 : £ 48 ).
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