Kenton Baptist Church Annual reports and Accounts for the year ended 31 December 2024 Streatfield Road. Kenton, HA3 9BS www.kentonbaptist.org.uk Office telephone: 020 8907 7494 /1 n IKBC" Verslon 01 dated 0110712026 As signed by Independent Examiner
Kenton Baptist Church Report and Accounts for the year ended 31 December 2024 Contents Page Report of the Trustees for the year ended 31 December 2024 al Reference and administrative details of the charlty. its trustees and advisors bl Structure, governance and management cl Objectives and activities dl Achievements and performance e) Financial and policy review f} Oiaconate responsibilities and trustees, declaration Report of the Independent Examiner Statement of Financial Activities 2024 Balance Sheet as of 31 December2024 Notes to the Financial Statements Supplementary Schedule: Analysis of income and expenditure fThis schedule isfor information only ond does notform port of the oudited cccountsj Is
Kenton Baptist Churth Report of the Trustees for the year ended 31 December 2024 The Trustees have pleasure in submitting their report together with the financial statements for the st Church for the year ended 31 December 2024. These financial statements have been prepared in accordance with statutory requirements. thetrust deed, the Statement of Recommended Practice IFRS102 issued in January 20151 and the Charitiès act 2011. a) Reference and administrative detsils of the charlty, Its trustees and athiisors Charity name.. Kenton Baptist Church Registered Chority Number.. 1134168 Principal oddress.. Streatfield Road, Kenton, Harrow. Middlesex HA3 9BS Names of Trustees who manage the charlty {known asthe Mlnlster and Deacons): Truee name Offl¢e Appolnted b Rev Steve Cochrane Minister Church members Mrs Neva Evans Deacon Church members Mrs Karen Hog8e Deacon (Church Secretary) Church members Mrs Beverly Johnson Deacon Church members Mrs Geor8ina Ofosu-osei Treasurer Church members Mr John Woodgate Deacon Church members Names and addresses of advlsors: Type of advlsor Name Independent Examiner Kevln 08llvle Bankers CAF Bank Address 13 Evelyns Close, Hillin8don, Middlesex, UB8 3LR 25 Kin8s Hlll Ave, Kings Hill, West Malling. ME19 4JQ b) Strurturety governance and management Kenton Baptist Church is constituted by Trust Deeds dated 2210111937, which is included in a th th Constitution for Kenton Baptist Church. 9 July 21x19 amended 16 September 2021. Trustee selectlon methods: The Minister is appointed by secret ballot at a Special Church Members, Meeting called for the purpose. Deacons are elected by the Church Members each year to serve for a three-year term, commencin8 on the itt of January the followin8 year (except where a mid-term vacancy is bein8 filled). To be elected all Trustees must obtain at least a trwo-thirds majority of votes cast. Membership and Members: A combination of deaths, relocations and new members saw a slight drop in membershlp to 51. c) Objectives and Artlvltles Mission of the Church The principal purpose of Kenton Baptist Church is the advancement of the Christian faith according to the principles of the Baptist denomination. Other purpose5 may include education and charitable work, both in the United Kingdom and elsewhere around the globe.
Kenton Baptist Church Report of the Trustees for the year ended 31 December 2024 Regular actlvltles of the Church Sunday morning worship takes place at 10.30am each week and Holy Communion is celebrated on the third Sunday mornin8 each month. Swashbucklers lan evenin8 8roup for middle school boys). Toddlers & Co la weekly toddler and parent group) and Senior Adults Club continue to flourish with varied and stimulating programmes which are welcomed by the local community. Organisationally, the Deacons {Trusteesl met regularly throughout the year to maintain careful and prayerful oversight of Church activitie5. Bi-monthly Church Members. Meetin85 alw continued throughout the year. The ¢ontlnulng Ilfe of the Church Famlly We were delighted to welcome guest preacher5 to the Church on a number of occasions, including some who were able to connect us with the worldwide family of God's people. Durin8 the year we had visits from two of our linked missionaries who serve in Belgium and Cyprus. Duiin8 the year we shared in sadness at the passin8 of two longstanding members ofthe Church family, one of whom was a founding member of the Church. We also said farewell to others who have moved away. All will be greatly missed. Our Harvest Festival this year was on the theme of 'Harvest for Lost Souls, and family and friends of the church con8reBation were in invlted to attend. Monetary offerin8s from the service were donated to the London City Mission. Outreach In the Ilfe of the Church As has become the Church's custom, we focused our outreach on a couple of special events designed to en8a8e more fully with our community, on regular weekly clubs and activities (see above) and on widespread invitations to our Easter and Christmas services which, like many other services at KBC, include clear presentations of the Good News of Jesus Christ. In 2024 the Church continued thÈ'Warm Space, initiative through the winter months providlng a warm, friendly environment for the communitys use. Our 'speclal events, this year included several themed parties throu8hout the year for children in the nei8hbourhood. a Comedy Evening in June and a Gospel Concert in November. All the events were well attended and provided opportunities for some meanin8ful conversations. In March we also held a Coffee & Cake morning which was very well attended, and which included support for Great Ormond Street Children's Cancer Unit through purchases from a remarkably well- stocked Nearly New stall hosted by a Church Member. Prayer In the lrfe of the Church During 2024 we continued our emphasis on prayer meetings introducing a monthly prayer meeting on Tuesday afternoons. The focus was on Church growth and direction of service. The Church's many small groups (home groups. friendship groups etc.} routinely continued to pray together. Special prayer meetings for God's work in the wider world through oversea5 and home missions remained a key feature of Church life.
Kenton Baptist Church Report of the Trustees for the year ended 31 December 2024 Workln8 with other Churches Our Church plays an active role in its relationship wrth other Christian communities. Our Church building and its facilities continue to be used by our friends in the Betel Romanian Church, who use our premises many times every week, and for whom we thank God. The 'Warm Spaces, initiative, Week of Prayer for Christian Unity and Good Friday Procession of Witness all provided natural opportunities to collaborate with other con£re8ations through the Kenton Group of Churches. Financial support for missions and specbal appeals Kenton Baptist Church continued to donate to a regular range of charities this year. These included.. Baptist Missionary Society, Baptist Home Mission, Christian Aid, Harrow Schools Link Trust, Mother Janet Orphanage in Uganda, One Mission Society IOMSI, Evan8elised Fields Mission IUFMI. Support for other local 8roups A local Nursery group continued to use our premises until the end of July when the owner retired and sold it to another group as a going concern. In September the Church Members formally agreed to permit the new Nursery to continue usingthe premises. d) Achievements and Performance We contlnue to seek every opportunlty. throu8h words and artions, to make the Good News of Jesus Christ known in our community. Our activities in 2024 continued to provide a number of services that are valued by our local community. Church members actively support the local food bank and have used the Fare Share charity scheme to redistribute supermarket food approachin8 the end of its shelf life. We are most grateful to the many volunteers who consistently give their time and energy to sustain all our work for the Kenton community and for God's Kingdom. e) Flnanclal and pollcy revlew The Church's income is principally derived from freewill offerings and from rent charged to the Nursery and Betel Romanian Pentecostal Church. Durin8 2024 the freewill offering income of the Church plus periodlc donatlons was slightly hlgher than the level budgeted in November 2023. We thank God for this and honour the falthfulness of the Church family in sustainin8 their giving through thls tlme. Rental income slightly exceeded the level budgeted. We set a budget prior to the start of each year and use this to manage finances through the year. A financial report is provided at a monthly Deacons meetin8 and bi-monthly Church meetings. The Church has adequate financial reserves but will continue to hold as minimum reserves the sum of Senior Minister and Administration annual budget lines- for 2024. £49.135. The Deacons continued to monitor risks to the Church. including financial risk. f) Diaconate responslbllities The Diaconate is responsible for preparing this report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards. Charity Law requires the Diaconate to prepare financial statements for each financial year which give a true and fair view of the affairs of Kenton Baptist Church and of its incoming and out8oing resources for the year.
Kenton Baptist Church Report of the Trustees for the year ended 31 December 2024 In preparing these financial statements. the Diaconate is required to select sultable accounting policies and apply them consistently observe the methods and principles in the Charities SORP make judgements and estimates that are reasonable and prudent state whether applicable accounting standards have been followed, subject to any material departures disclosed appropriately in the financial statements prepare the financial statements on the going concern basis unless It is inappropriate to assume that Kenton Baptist Church will continue to exist The Diaconate is responsible for keepin8 adequate accounting records that disclose with reasonable accuracy the financial position of the Church and which enable it to ensure that the financial statements comply with applicable Accountin8 SL3ndards of Recommended Practice {the FRS1021, and the Accounting Regulations set out under the Charities Act 2011. It is also responsible for safeguarding the assets of the Church and for taking reasonable step5 for the prevention and detertion of fraud. The trustees approved the trustee5' report above at thelr meeting on I" July 2026. It is signed on behalf of the charity's trustees as follows: Sl8nature Full name Karen Elaine Hogge Church Secretary Positlon Date 1171IG dgt,
Kenton Baptist Church Report of the Independent Examiner to the Diaconate for the year ended 31 December 2024 Independent examinerfs report to the Ministers and Deacons {the trustees) of Kenton Baptist Church I hereby report on your account5 for the year ended 31112/2024 as set out on the attached pages and on my examination thereof under S145 of the Charities Art 2011 ICA20111 & guidance from the Baptist Union. Respective re5pon51bllltles of Trustees and Examiner The Trustees are responsible for the preparation of the accounts. You consider that the audit requirement of 5144 of the Charities Art 2011ICA2011 The Act) does not apply. It is my responsibility to report, on the basis of procedures specified in the Eèneral directions given to the charity commi55ioners under S145(5) (bl of the act whether particular matters have come to my attention. Basls of report My examination was carried out in accordance with the General Directions 8lven by the Charity Commission under S145 of the act. That examination includes a review of your accounting records and a comparison of the accounts to those records. It also includes consideration of any unusual items or disclosures in the accounts and seek explanations from you to them. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently I do not express an audlt opinlon on the accounts. Independent Examlners staternent Durin8 my examlnation, no matter has come to my attention: which gives me reasonable cause to believe that in any material respect the requirements to keep proper accounting records in accordance with $130 CA2011 to prepare accounts with accordance with the accountlng record5 and the requirements of that Act have not been met. 2. to which I believe attention should be drawn in order to enable a proper understandin8 of the accounts to be reached. Si8nature Full name Kevin Ogilvie 23, June 2026 Date
Kenton Baptlst Church Statement of Financial Activities for the year ended 31 December 2024 Income and Expenditure Unrestricted Funds Restricted 2024 2023 Notes Funds Total Total In£omln8 Resources Voluntary income Regular rental income 60,069 57,836 60,069 57.836 57.928 39,679 Interest and Investrneni In¢ome 3.284 3.284 4,765 Incornin8 rtsour¢es from tharitable 2,783 2.783 3,739 other incomlng resources Total Incomlnz Resources 123.973 123,973 106,111 Resources Expended Charitable activities 117,505 2,102 117.505 2,102 131,403 Governance costs Other Resources expended Total Resources Expended 119,607 119,607 131,403 Net Incomlng/{outgoln8) Resources -25,291 Gross Transfers Between Fund5 Net surplu5/ldeficbil before revaluations and investment asset disp05als Gains and losses on revaluatlons of fixed 35sets lor the charity's own use Galns and losses on revaluations and di5P95a15 of investment assets -25,291 Net movement In Funds Totsl Funds brought forward 4366 132,420 -25,291 143,222 133,067 Total Funds carrled forward 136,786 137A33 117,931
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Kenton Baptlst Church Balance Sheet for the year ended 31 December 2024 Balance Sheet 2224 2023 Current Assets Cash at Bank Cash in Hand London Baptist Property Board BU 12-month deposit account BU 3-month notlce deposit Total Current Assets 4,691 409 40,798 40.000 37.046 3,453 550 39,361 75,214 122,944 118.578 Llabllltles due wlthln one year Total Net Assets 118,578 Charltable Funds Unrestricted Funds Restricted Funds 122,297 647 117,931 647 Total Funds 118.578 These accounts were approved bythe trustees at their meeting on 1$1 July 2026. and are signed on their behalf as follow5: Signature Full name Georgina Ofosu-osei Treasurer (from 0110812023) Position Date
Kenton Baptist Church Notes to the Accounts for the year ended 31 December 2024 11 Accounting Policies al Basis of aration The accounts are prepared on a cash basis in accordance with the accounting re8ulations and reportin8 by Charities Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard for smaller entities {FR51021 and the Charitles act 2011 and applicable regulations. re bl Donations Donations and gift aid relief from HMRC are accounted for when receivÈd. cl Le8acies Legacies are accounted for when funds are received in cash or at bank. dl Investment Income Investment income is included in the accounts in the year In which it was received. e) Fund raising There are currently no material fund-raising costs. fl Grants payable The church makes grants to other organisation5 whose charitable objects complement Its work. They are accounted for in the year in which they are paid. gl Governance costs This represents dirert expenditure on the 8overnance of the Church. Most of the management is carried out without charge by volunteers. This intan8ible cost is not included In the statement of financial artivities since there Is no measurable cost to the volunteers for their service. In 2024 the Church paid lawyers to produce a contract for premises rental to the new Nursery that commenced this year. This is included in the Administration cost for 2024. h) Fixed assets The Church and manse premises are included as notes to the balance sheet at insurance values because reliable market values are not available, and valuation would incur significant cost which would be onerous compared with the additional benefit gained by the user of the accounts.
Kenton Baptlst Churth Notes to the Accounts for the year ended 31 December 2024 l) Accountlng Pollcles convd il Depreciation Depreclation has not been charged on the church or manse premises, because in the opinion of the trustees, the residual value of the asset is not less than the ori8inal cost price. All equipment purchases are accounted for as an expense in the year of purchase. Hence, the church does not account for fixed assets and depreciation does not arise. l} Debtors Tax reclalms on offerin8s are made on a tax year basis, normally in June following the end of the tax year. They are accounted for in the year in which they are received. In 2024 the tax rebate was received in September. 2) Expenses al Staff osts and trustees, ex en 2024 2023 Gross Wa8es and Salaries Social security costs Employer'5 pension costs attributable to current employees 39.022 37.074 4.183 3.976 43.205 41,050 Social security costs to the Church are currently wlthin the employers. NIC allowance. The average number of employees duringthe year was two. No employee received emoluments in excess of £60.OCKI durin8 the year 2024. No other Deacon Itrusteel or any person connerted with them has received or Is due to recelve any remuneration for the year directly or indirertly from the general fund {or any other fund), other than as stated elsewhere in these accounts. Trustees, expenses.. The senior minister receives expenses of office, and Trustees may from time to time receive reimbursement of expenses incurred on behalf of the Church. Tronsactions Wlth Trustees.. There were no transactions with Trustees in 2024. vags, | 10
Kenton Baptist Church Notes to the Account5 for the year ended 31 December 2024 nsions See further information in note 5. cl Related Charities The custodian trustee is the London Baptist Property Board which is charity number 24976. The Church is a150 a member of the Baptist Union of Great Britain, and the London Baptist Association. The Church made contribution5 totalling £4.6LX)12023 £5.7501 to the London Baptist Association Home Mission Fund as part of Mission Givin8. 3) Flxed assets 31 12 2024 31 12 Net Book value The church is the beneficial owner Isubjert to the relevant trusts) of the following assets, the legal title to which is held by the Church's custodian trustee (The London Baptist Property Board Llmltedl: Church premises at: 5treatfield Road. Kenton, Harrow, Middlesex HA3 9BS which has an insured value at 1st January 2025 of: Buildings - £3,293,5(Kl & Contents - £110,751. Church manse at 32 Kingshill Drive, Kenton, Harrow, Middlesex HA3 8TF which has an Insured value at I, January 2025 of: Buildin8- £421.406. bl 41 Investments. deposlts and banklng The Church's current account with Charities Aid Foundation 8ank was opened In 2021. Deposlt accounts are held with the Baptist Union Corporation18UC, 12-month. 3-month and 7-day accounts) and London Baptist Property Board ILBPB. zero notice account). In March 2024 the Church opened a BUC 12-month account and transferred some funds from the BUC 3-month account. Thls account will mature in March 2025. 51 Penslon Scheme Llabllltles The Church is a participating employer the Baptist Pension Scheme 1.the Scheme"), which is a separate legal entity administered by the Pension Trustee (Baptist Pension Trust Limited). The assets of the Scheme are held separately from those of the Employer and the other participating employers. 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. Prior to this date the rnain benefit provided through the Defined Benefit IDB} Plan was a pension of one eightieth of final minimum pensionable income for each year of pensionable service tO8ether
Kenton Baptist Church Notes to the Accounts for the year ended 31 December 2024 with additional pension in respect of premiums paid on Pensionable Income in excess of Minimum Pensionable Income. Since l January 2012. benefits have been provided through a Defined Contribution (DCI Plan. A formal valuation of the DB Plan as at 31 December 2019 by a professionally qualified Artuary usin8 the Projected Unit Method. At the valuation date the market value of the DB Plan assets was £298 million. whilst the level of assets needed to pay benefits was £316m, giving a deficit of £18m (equivalent to a past service funding level of 94%). The Church and the other participatin8 employers in the D8 Plan are collectively responsible for fundin8 thls deficit. The next artuarial valuation of the DB Plan within the Scheme is due to take place not later than as at 31 December 2022. On 30th June 2022 the Baptist Pension Scheme signed an agreement with the insurance company Just Group I"Just"I to secure DB Plan members, pension benefits. Just are now providing financial backing for all pension5 provided through the Scheme's DB Plan and following this transaction, the Scheme no longer has a shortfall. An updated Recovery plan was then signed in August 2022 under whlch recovery contributions from each participating employer in the D8 Plan reduced to £1 per month from August 2022. Statement of Investment Principles for the Baptist Pension Scheme 1.the 5cheme"I Statement ol Investment Prlnciples (51PI The SIP is prepared in accordance with the requirements of Settlon 35 las amended) of the Penslons Act 1995. the Occupatlonal Penslon Schemes {Ibwestment} Re8ulatlons 2005 las amended), the Occupatlonal Penslon Schemes {Charye5 and Goveman¢•l Re8ulatlons 2015, and the Pen51on5 Re8ul•t¢Ws guidance for defined benefit pension sthemes Imarch 20171. The SIP also reflects the Trustee's response to the Myners voluntary code of Investment prln¢lples, as well as the DWP'5 2018 guldance on matters relatin8 to ESG. including Clim•te Chan8e. Professlofial Advlce and Consultatlon This SIP has been prepared after obtaining and considerin8 written professional advice from LCP, the Scheme's investment adviser, whom the Trustee considers 5Uitably qualified and experienced to provide such advice. The advice takes into account the suitability of investments, including the need for appropriate diversification gNen the circumstances of the Scheme and the principles set out in this SIP. Thls SIP from time to time as been review by three years the Trustee and, its ad¥i5ers. will arnend it as appropriate as soon as practicable any significant change in investment policy or in the demographic profile of the relevant Members in re5pett of the DC Plan. Investment oblectlves The primary objective for the DB Section Is to ensure that the Scheme should be able to meet benefrt payments as they fall due.
Kenton Baptist Church Notes to the Accounts for the year ended 31 December 2024 Investment Strateby The DC Plan's main default arrangement is the Ethical Default Lifestyle strategy: this will be the default option for new joiners who do not make an active investment choice The DC Plan's main default arrangement-_ The Ethical Default Lifestyle strategy The Ethical Default Lifestyle strategy has been desi8ned to be in the best interests of the majority of the members based on the demographics of the DC Plan's membership. The default option has an initial growth phase under whlch Investments target a return significantly above inflation. Other default arrangements In addition to the main default arran8ernenl, the DC Plan ha5 four additional default arran8ement5: • the Lump Sum Lifestyle strategy Iclosed to new members): • the L&G Diversifled Fund.. • the L&G Global Equity Market Weight5130:701 Index Fund- GBP 75% Currency Hedged: and the L&G Low Carbon Transition UK Equity Index Fund. The Lump Sum Lifestyle strategy The Lump Sum Lifestyle strategy is the DC Plan's le8acy default option help manage the volatlllty that members, a55ets experience In the 8rowth phase of the legacy default option, rhe Trustee has included an allocation io DGFS which over the long term are expected to generate returns above inflation, but with lower volatility than equities. The L&G Diversified Fund The L&G Diverslfled Fund became a default arran8ement for the members whose assets were automatlcally mapped into this fund. The Trustee belleves that this fund is an appropriate default arran8ement for ihese members, but the fund is not to be offered as a defauft optn to the rest of the DC Plan'5 membership. The L&G Low Carbon Transition UK Equity Index Fund The L&G Low Carbon Transition UK Equity Index Fund is designed to provide exp95ure to the UK equity market while on a decarbonisation path to achieve net zefo by 2050, whilst also significantly reducing the level of carbon reserves and improving green revenues. Conslderation5 in setting the investment arrangements When deciding how to invest the Scheme's assets. the Tru51ee considefs a number of risks, and some of these risks are more quantifiable than other5, but the Trustee has tried to allow for the relative importance and magnltude of each risk of which setting the strategy for the D8 Section the Trustee ha5 been taking it into account. | 13
Kenton Baptist Church Notes to the Accounts for the year ended 31 December 2024 61 Reserve Nole Galns Balance Balance at Income Expendsle Transfer 110ssesl at 31.1223 31.12.24 Unre5trlrted Funds General Fund 115,070 121,189 116,899 119,360 Covenanters General Fund Coda Club FJ GITI'5 8rliade General Fund GB8C Senior Adults 1.296 2.595 189 3,8 299 883 Swashbucklews 270 Toddlers & Co 1,184 1,184 Total Unrestrlcted Funds 117,931 123.97J 120,206 121,697 RestrSrted funds 8uildin8 fvfid Kitchen Equipt. GB Mlsslonary GB Camp fund 647 647 Total Restrfrted Funds 647 647 Total Funds I1877 123,973 120.206 122,343 Vè8F. 114
Kenton Baptist Church Supplementary Schedule to the accounts {not part of independently examined accounts) Income & Expenditure Analysis for year ended 31st December 2024
Kenton Baptist Church Supplementary Schedule to the accounts (not part of independently examined accounts) Analy5i5 of Income and Expenditure for year ended 31" December 2024 Z024 Total 2023 Total Incomlng Resources Freewill Offerin8S IX)nations Hall lettlngs Income from Church organisations, subs etc. Interest 55,209 4.861 57,836 55,823 2.105 39.679 2,783 3,284 123,973 3,739 4.765 106,111 Total IncofflSfi8 Resourtes Le Expendliures of Resourtes Staff Cost & Expenses Premises Church Equipment Outreach & Events Church Or8anisation5 Materials and Equipment Mission Glvln8 Admin & Misc. 45.455 48,253 240 3,026 41,883 60,766 804 2,138 3.307 3,128 12,838 6,488 16.100 6,584 Total Re50ur¢es Expended 119.607 131,403 Net iOrnIng/(Ou01nGj Resources 4.366 -25291 During the year the Church gave to Church or8ani5ations £012023: £01 nd received from Church or8ani5ations £0 (2023: £01. Vagt.. 116