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2020-12-31-accounts

Charity Registration No. 1135448

WILLESDEN GREEN BAPTIST CHURCH

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

WILLESDEN GREEN BAPTIST CHURCH

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees Pastor Paul O Akinola
(Chairman)
Ademola Oguntunde
Lorna Anderson-
Edwards
Sandra Williams
(Church Secretary)
Janice Carrington
Ifure Ibanga
Les Ale (Church
Treasurer)
Okiki Okunola
Charity number 1135448
Principal address 94 High Road
Willesden Green
London
NW10 2PR
Independent examiner KLSA LLP
Kalamu House
11 Coldbath Square
London
EC1R 5HL
Bankers Santander Business Banking
1st Floor Operations Block
TBP2 Bridle Road
Bootle
Merseyside
L30 4GB

WILLESDEN GREEN BAPTIST CHURCH

CONTENTS

Page
Trustees report 1 - 6
Independent examiner's report 7
Statement of financial activities 8
Balance sheet 9
Notes to the accounts 10 - 17

WILLESDEN GREEN BAPTIST CHURCH

TRUSTEES REPORT

FOR THE YEAR ENDED 31 DECEMBER 2020

The trustees present their report and financial statements for the year ended 31 December 2020.

The accounts have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the WGBC'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

The principal purpose of the Church is the advancement of the Christian faith according to the principles of the Baptist denomination. The Church may also advance education and carry out other charitable purposes in the United Kingdom and/or other parts of the world.

Willesden Green Baptist Church aims to: live for God, please God, serve God and grow in God and to this end, the church is committed to enabling as many people as possible i.e. the local and wider community to join in its services of worship and its activities and to become part of the church community. The Trustees maintain an overview of all the activities of the church in conjunction with some of the members of the Church and are constantly monitoring them in order to make any changes necessary in order to involve as wide a group of people as possible.

When planning the year, the trustees have considered the Commission’s guidance on public benefit and, in particular, the specific guidance on charities for the advancement of Christ's way of life. In particular we try to help people in the community live out their faith by: conducting regular services of worship with teaching and prayer, provision of pastoral care; and missionary work and outreach to the community.

Regular Services & Worship

The year 2020 started with great hope and anticipation of finishing our building project with a possible return before Christmas. January to March were dedicated to prayers for direction and guidance during all our services: Sunday morning with teaching; All Age services. We also had a special training session on Strategic Evangelism in February to enhance our Mission and evangelistic engagements within our community. Youth led services; Special services like Marriages, Children dedication, and Funeral services all took place during the year.

Church Membership

Our church membership encompasses all ages. Regular services have provision for children and youth ministry where all ages are welcomed and catered for like Creche and Sunday school. During the week there are a range of activities for youth, elderly, homeless and the needy, unchurched youth, mothers and toddlers and activities for all ages such as prayer groups, bible study, men and women’s fellowships, singers and music like choir practices either held in the church and/or homes where members are encouraged to attend at least one of these activities.

However, we had to adjust our operations during the lockdowns due to the Covid-19 pandemic.

Thankfully, our leadership team stepped up to take more pastoral responsibility. Individual leaders were allocated several congregants to contact by telephone at least twice in a month. Any concerns were reported to the ministers and church secretary for immediate action. This arrangement served us very well when the lockdown was announced. Unfortunately, some of our members died during the lockdown. Some were Covid-19 related others for other health issues. Sadly, several congregants also suffered family bereavements during this period.

WILLESDEN GREEN BAPTIST CHURCH

TRUSTEES REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020

Achievements and performance

Achievements, Performance and Pastoral Care

Our activities were limited since the commencement of our building project in June 2019. We did not have full use of church space and facilities as we were being hosted during this period by St Andrews Church which is adjacent to us across the road. However, we were able to provide the following in our community before and during the lockdown:

▪Online Operations: Despite limited resources we were able to continue our weekly Sunday services, Bible study and prayers online using WhatsApp, Zoom and YouTube.

Visit our YouTube Channel and please remember to share, like and subscribe: (https://www.youtube.com/ channel/UCoCRuwWX23wo9AXvsa2ofvQ) platforms.

▪Daily Devotion: Daily bible teaching with encouraging words, prayers points and updates on members - including birthday celebrations were done during the first lockdown.

▪Online Sunday School: We were able to engage our children through online weekly Sunday school which was very interactive. All safeguarding online protocols were strictly adhered to.

▪Football Academy: Coaching resumed in January but was suspended after the session on 7th March 2020 due to lockdown restrictions.

▪Strategic Evangelism Training: This training attracted 48 participants from 12 different churches including our members building redevelopment work. However, our church hosted one of the regional leaders of TEARFUND from South East Africa and two of his colleague in UK in our Sunday Service earlier in February 2020. We have been supporting TEARFUND charity for more than twenty years.

▪Open House: We continued our outreach to homeless people in our community at Cricklewood Baptist Church. However, it was scaled down to twice every month rather than weekly. Our partnership with Felix Project was very difficult to manage during lockdown as we continued providing pre-packed food under Covid-19 guidelines.

▪Parish nursing: Was very handy especially in assisting an elderly single member who experienced a bad fall during the pandemic. Thankfully, the individual made a speedy recovery. Most other actives were suspended during the period apart from telephone contacts supported by the trustees.

▪Youth Group: The youth also ran their group fellowship meetings online with adult support and oversight. They displayed their technical skills in helping the church and some older members with internet and online connections.

▪Young Adults Ministry: This ministry was held together using online and other creative ways of interactions. A few of the members also volunteered their time to support some of the older members helping them with their shopping during the lockdown. Others lent their support to the Youth group leader.

▪Building Project: During the year the contractors the builders and all those involved in the project were seriously affected by the pandemic which eventually impacted the development, and its progress. However, we the end is in sight as things are gradually taking shape. The pandemic brought on several delays as the supply of building materials were adversely affected. This meant that targets were missed and the forecast for the completion of the project was pushed to 2021. In the meantime, we continued to hold the church services and a handful of activities at St Andrews Church, Willesden Green NW10 2QS.

We are looking forward with great expectations towards the completion now scheduled for the first half of 2021. We give gratitude to God for guidance, protection, and fortitude during this challenging time. We are glad to report that there have been no negative incidents or accidents on the site to date. We also acknowledge with sincere gratitude, our Senior Minister Reverend Paul Akinola who along with some assistance from the Church Treasurer Les Ale, has laboured tirelessly liaising with the contractors, the architect and other key individuals involved with the development, to ensure that requirements, targets and desired features are fulfilled.

Mission and Outreach

▪Baptist Mission: We continue to support the work of home missions undertaken by the Baptist Union. Baptist Mission Society BMS and other mission agencies

▪Holiday Bible Club: Unfortunately, we could not do this last summer due to the pandemic. We do hope this event will run again in the future post pandemic.

▪TEAR Fund: Tear Fund is supported by CAMEO activity where funds collected during CAMEO is sent to them every year. The CAMEO group is also on hold following the church

WILLESDEN GREEN BAPTIST CHURCH

TRUSTEES REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020

Financial review

Financial Review

The year 2020 was extremely challenging largely due to the Covid-19 pandemic and because we were not able to return to our church premises as the building work was also affected by lockdown restrictions which meant that supply chains for building materials were stalled which meant that progress on the building development was delayed.

The result of this is that the revenue collected in 2020 was below expectations. But God is gracious, and three factors kept the bottom-line from recording a deficit; first, the number of givers that give via direct bank transfer increased as a handful of faithful givers who were able to continue supporting the work of the church did so by making use of online banking. Also, a one-off sum of £30,000 gift was received from a legacy - the estate of the late Harry Frank Rose who left the church a share of his estate in his will. Mr. Rose wasn’t known to any of the existing church members but must have been a member of the congregation a very long time ago. We were unable to trace any next of kin for further information. May his soul rest in perfect peace. Lastly, one of the church’s manses was let out to private tenants during the last third of the year. This again helped to augment the coffers.

So, unlike the past two financial periods i.e., 2018 and 2019 where we reported deficits for both those periods, we are pleased to report a turnaround, a surplus which was again, achieved under such tenuous circumstances. We have therefore broken the trend of the last four years of dipping into the church’s reserves. We hope and pray this continues going forward as we look to return to holding services in our newly redeveloped church premises in the following year.

Reserves Policy

Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognized at the time of its receipt.

The Church’s policy is to hold sufficient funds to meet four months’ crucial operational cost of running the church. These funds exclude any restricted funds. As was the case last year, there were periods during the year where this policy was contravened. This occurred with the knowledge that funds were forthcoming. We intend to keep an eye on all planned future commitments to ensure that this is not a regular trend.

Principal funding sources

The charity’s primary source of income is through regular gift aided receipts from members of the church, and this is of course augmented by receipts from IR Charities in respect of gift aid tax claims. Offerings given during services also account for the next major source of the charity’s funding. In addition to regular giving the church also raises funds by occasionally hiring out its premises to external organisations and smaller churches.

Risk Management

An on-going Risk Management review is completed regularly by the trustees. The Deacons have undertaken this review regularly by way of the monthly meetings and in some cases via subcommittees which review, identify, and manage the principal risks that may prevent Willesden Green Baptist Church from achieving its main objectives.

The charity continues to take steps to minimise discernible risks and provide adequate cover in terms of relevant insurances. The trustees regularly review the charity’s financial reports with a view to assessing financial sustainability and ability to project for future charitable events, activities, and organisational growth. Safeguarding continues to be observed and DBS certification ensured for all leaders and volunteers for children and vulnerable adult environments

Plans for the Future 2021

We are looking forward with great anticipation to the completion of the building project and moving back into our newly redeveloped church, in the first half of the year and depending on the pandemic and related restrictions. To this end we will be planning an opening service followed by the first Sunday Service.

We are also looking forward to resuming certain ministries and activities of the church that were put on hold due to the building project and subsequently the pandemic e.g. the Football Academy and Open House on a weekly basis and others.

We also will be looking into the prospect of maximizing the use of the new church space to benefit the church funds and reserves by hiring out to third parties for various ceremonies such as funerals, weddings, conferences, seminars etc.

Ultimately our focus for 2020 is largely centered around moving back to our new space and putting it to best use in accordance with our mission to serve the local and wider community, thus espousing the church’s Vision Statement “Building a people of Purpose, Power and Praise.

WILLESDEN GREEN BAPTIST CHURCH

TRUSTEES REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020

Structure, governance and management

Willesden Green Baptist Church is constituted as a charitable trust registered with the UK Charity Commission. Willesden Green Baptist Church is governed by its constitution following the Approved Governing Document provided by the Baptist Union (adopted July 2009). This constitution was submitted to the Charity Commission along with our formal application for independent Charity Registration. The Church received Charity Status from the Charity Commission in April 2010

The trustees who served during the year were: Pastor Revd Paul O Akinola Assoc. Pastor Revd Denzil Larbi (ended January 2020 due to a new job) Sandra Williams Ademola Oguntunde (ended 2nd term November 2020) Lorna Anderson-Edwards (ended 2nd term November but extended for a year to November 2021) Janice Carrington Ifure Ibanga Les Ale Okiki Okunola (stepped down November 2020)

Pastor Paul O Akinola (Chairman) Ademola Oguntunde Lorna Anderson-Edwards Pastor Denzil Larbi (Resigned 31 January 2020) Sandra Williams (Church Secretary) Janice Carrington Ifure Ibanga Les Ale (Church Treasurer) Okiki Okunola

Recruitment and appointment of trustees

The Qualifications of a Deacon: A Deacon should be a person:

I. Of mature faith

II. Filled with the Holy Spirit III. Supports fully the worship and witness of the church IV. Supports the members of the local church in all areas of their growth V. Able to work in harmony with the Minister and fellow Deacons

A Deacon is a person appointed by the church, under the guidance of the Holy Spirit, to share in the spiritual leadership, oversight and administration of the church.

A Deacon is a person of 18 years of age or over and not less than six months in the membership. Deacons are elected at the Annual General Meeting and require over 50% of the vote cast. They serve for a three-year term with the opportunity to be nominated for one further three year term only. That must be followed by a vacant year when they shall not be eligible for reappointment.

WILLESDEN GREEN BAPTIST CHURCH

TRUSTEES REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020

Organisational Structure

The Church is a member of the Baptist Union of Great Britain (Baptist Union) and the London Baptist Association. Interdependency is a characteristic of Baptist Churches and this is demonstrated informally through the co-operation between churches and expressed formally through joining a Baptist Association and the Baptist Union.

The constitution defines the trustees of Willesden Green Baptist Church as the Minister(s), Deacons, Secretary, Treasurer and employed administrative staff, who by the nature of their role work together with the Minister(s) and the Deacons in the overall leadership of the Church.

The Deacons with Minister(s) meet on the last Wednesday of every month, at least one away day and one weekend away for business, training and development.

A team of volunteers are additionally responsible for undertakings such as Pastoral Care, Building Maintenance, Social Care (e.g. Open House & Evangelism), Children and Youth work, Parish Nursing, Cameo, Music & Worship, Missions, Senior Citizens Fellowship, Toddler’s Drop-in Centre and General Housekeeping

WILLESDEN GREEN BAPTIST CHURCH

TRUSTEES REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020

The trustees are responsible for preparing the Trustees Report and the accounts 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 accounts for each financial year which give a true and fair view of the state of affairs of the WGBC and of the incoming resources and application of resources of the WGBC for that year.

In preparing these accounts, the trustees are required to:

The trustees are responsible for keeping sufficient accounting records that disclose with reasonable accuracy at any time the financial position of the WGBC and enable them to ensure that the accounts 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.

This report is approved by the trustees and signed on its behalf by:

Revd. Paul O Akinola Sandra Williams Les Ale (Chairman) (Church Secretary) (Treasurer)

Trustee Dated: 25 March 2022

WILLESDEN GREEN BAPTIST CHURCH

INDEPENDENT EXAMINER'S REPORT

TO THE TRUSTEES OF WILLESDEN GREEN BAPTIST CHURCH

I report to the trustees on my examination of the financial statements of Willesden Green Baptist Church (the WGBC) for the year ended 31 December 2020.

Responsibilities and basis of report

As the trustees of the WGBC 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 WGBC’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

Your attention is drawn to the fact that the charity has prepared financial statements in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn.

I understand that this has been done in order for financial statements to provide a true and fair view in accordance with Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.

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:

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.

Harsheel Dodhia KLSA LLP Kalamu House 11 Coldbath Square London EC1R 5HL

Dated: 25 March 2022

WILLESDEN GREEN 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 and legacies
3
102,932
4,351
Charitable activities
4
20,125
11,000
Investments
5
146
-
Total income
123,203
15,351
Expenditure on:
Charitable activities
6
91,594
77,357
Net incoming/(outgoing)
resources before transfers
31,609
(62,006)
Gross transfers between
funds
(7,343)
7,343
Net income/(expenditure) for
the year/
Net movement in funds
24,266
(54,663)
Fund balances at 1 January
2020
2,010
4,808,530
Fund balances at 31
December 2020
26,276
4,753,867		 Total Unrestricted
Restricted
funds
funds
2020
2019
2019
£
£
£
107,283
81,749
8,767
31,125
17,835
35,320
146
115
-
138,554
99,699
44,087
168,951
128,877
117,211
(30,397)
(29,178)
(73,124)
-
25,289
(25,289)
(30,397)
(3,889)
(98,413)
4,810,540
5,899
4,906,944
4,780,143
2,010
4,808,531		 Total
2019
£
90,516
53,155
115
143,786
246,088
(102,302)
-
(102,302)
4,912,843
4,810,541

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

WILLESDEN GREEN BAPTIST CHURCH

BALANCE SHEET

AS AT 31 DECEMBER 2020

Notes
Fixed assets
Tangible assets
10
Current assets
Cash at bank and in hand
Creditors: amounts falling due within
one year
11
Net current assets
Total assets less current liabilities
Income funds
General restricted funds
Revaluation reserve
Unrestricted funds		 2020
£
£
4,751,062
83,103
(54,022)
29,081
4,780,143
2,215,816
2,538,051
4,753,867
26,276
4,780,143		 2019
£
£
4,797,812
69,035
(56,306)
12,729
4,810,541
2,270,480
2,538,051
4,808,531
2,010
4,810,541		 2019
£
£
4,797,812
69,035
(56,306)
12,729
4,810,541
2,270,480
2,538,051
4,808,531
2,010
4,810,541
4,810,541
4,808,531
2,010
4,810,541

The financial statements were approved by the Trustees on 25 March 2022

Pastor Paul O Akinola (Chairman) Sandra Williams (Church Secretary) Trustee Trustee

Les Ale (Church Treasurer) Trustee

WILLESDEN GREEN BAPTIST CHURCH

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

1 Accounting policies

Charity information

Willesden Green Baptist Church is a registered charity in the United Kingdom, set up in 2010.

1.1 Accounting convention

The financial statements have been prepared in accordance with the WGBC's [governing document], the Charities Act 2011, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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)" (effective 1 January 2019). The WGBC is a Public Benefit Entity as defined by FRS 102.

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 WGBC. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. 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 WGBC 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 WGBC 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 WGBC 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.

1.5 Resources expended

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.

Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.

WILLESDEN GREEN BAPTIST CHURCH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020

1 Accounting policies

(Continued)

Expenditure is recognised on an accrual basis as a liability in incurred. Expenditure includes VAT which cannot be recovered, and is reported as part of the expenditure to which it relates.

Costs of generating funds comprise the costs associated with attracting voluntary income.

Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for the beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.

Governance costs include those costs associated with meeting the constitution and statutory requirements of the charity and include the independent examination fees and costs linked to the strategic management of the charity.

Support costs

Support costs are those that assist the work of the charity but do not directly represent charitable activities and include office costs, governance cost, administration and payroll costs. They incurred directly in support of expenditure on the objects of the charity. Where support costs cannot be directly attributed to particular headings they have been allocated to cost of raising funds and expenditure on charitable activities on the basis of consistent with use of all resources. Premises overheads have been allocated on an inset detail basis and other overheads have been allocated on an insert detail basis.

Fund-raising with a cost are those incurred in seeking voluntary contribution and do not include the costs of disseminating information in support of the charitable activities.

1.6 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:

Land and buildings 2% Straight Line Method on building only (50% of Freehold Property) Plant and machinery 25% Straight Line Method

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 the statement of financial activities.

1.7 Impairment of fixed assets

At each reporting end date, the WGBC 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).

1.8 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.

WILLESDEN GREEN BAPTIST CHURCH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020

1 Accounting policies

(Continued)

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.

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 payments 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 WGBC’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.

1.10 Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2 Critical accounting estimates and judgements

In the application of the WGBC’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.

WILLESDEN GREEN BAPTIST CHURCH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020

3 Donations and legacies

Unrestricted
Restricted
funds
funds
2020
2020
£
£
Donations and gifts
34,874
4,351
Other
68,058
-
102,932
4,351
Charitable activities
Sales within charitable activities
Analysis by fund
Unrestricted funds
Restricted funds		 Total
2020
£
39,225
68,058
107,283
2020
£
31,125
20,125
11,000
31,125		 Total
2019
£
11,912
78,604
90,516
2019
£
53,155
17,835
35,320
53,155

4 Charitable activities

5 Investments

Unrestricted Unrestricted
funds funds
2020 2019
£ £
Interest receivable 146 115

WILLESDEN GREEN BAPTIST CHURCH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020

6 Charitable activities

Outreach, Social action and
Open House
Children & Youth work
Assistance to Fellowship
members
Musicians
Share of support costs (see
note 7)
Share of governance costs
(see note 7)
Analysis by fund
Unrestricted funds
Restricted funds		 Support
costs
Charitable
activities
2020
2020
£
£
-
426
-
408
-
1,400
-
150
-
2,384
161,364
-
-
5,203
161,364
7,587
84,007
7,587
77,357
-
161,364
7,587		 Total
2020
£
426
408
1,400
150
2,384
161,364
5,203
168,951
91,594
77,357
168,951		 Support
costs
Charitable
activities
2019
2019
£
£
-
1,650
-
2,212
-
1,928
-
760
-
6,550
236,304
-
-
3,234
236,304
9,784
119,093
9,784
117,211
-
236,304
9,784		 Total
2019
£
1,650
2,212
1,928
760
2020
£
-
-
-
-
-
161,364
-
161,364
84,007
77,357
161,364		 2019
£
-
-
-
-
-
236,304
-
236,304
119,093
117,211
236,304
6,550
236,304
3,234
246,088
128,877
117,211
246,088

WILLESDEN GREEN BAPTIST CHURCH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020

7 Support costs

Staff costs
Depreciation
Office Administration
Training and Guest
speaker
Rent and Mortgage
Insurance
Utility
Repairs and
maintenance
Cleaning and Sundries
Subscription and
Licences
Conference and catering
Travel
Accountancy
Legal and professional
Analysed between
Charitable activities		 Support
costs
Governance
costs
£
£
52,884
-
48,750
-
10,933
-
523
-
15,857
-
1,848
-
1,265
-
23,935
-
125
-
2,408
-
347
-
2,489
-
-
3,203
-
2,000
161,364
5,203
161,364
5,203		 2020Support costs Governance
costs
£
£
£
52,884
75,868
-
48,750
48,750
-
10,933
5,770
-
523
1,532
-
15,857
19,737
-
1,848
1,648
-
1,265
8,913
-
23,935
66,158
-
125
487
-
2,408
3,476
-
347
1,303
-
2,489
2,662
-
3,203
-
3,234
2,000
-
-
166,567
236,304
3,234
166,567
236,304
3,234		 2019
£
75,868
48,750
5,770
1,532
19,737
1,648
8,913
66,158
487
3,476
1,303
2,662
3,234
-
239,538
239,538

Governance costs includes payments to the independent examiners of £2,800(2019- £2,700) for independent examination fees.

8 Trustees

None of the trustees (or any persons connected with them) received any remuneration during the year, and there were no trustees' expenses paid for the year ended 31 December 2019 nor for the year ended 31 December 2018.

WILLESDEN GREEN BAPTIST CHURCH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020

9 Employees

Number of employees

The average number of monthly employees during the year was:

Charity
Administration
Employment costs
Wages and salaries
Social security costs
Other pension costs
10
Tangible fixed assets
Cost
At 1 January 2020
Additions
At 31 December 2020
Depreciation and impairment
At 1 January 2020
Depreciation charged in the year
At 31 December 2020
Carrying amount
At 31 December 2020
At 31 December 2019		 Land and
buildings
£
5,078,051
2,000
5,080,051
280,239
48,750
328,989
4,751,062
4,797,812		 2020
Number
-
-
-
2020
£
34,832
9,100
8,952
52,884
Plant and
machinery
£
7,585
-
7,585
7,585
-
7,585
-
-		 2019
Number
2
1
3
2019
£
45,339
12,065
18,464
75,868
Total
£
5,085,636
2,000
5,087,636
287,824
48,750
336,574
4,751,062
4,797,812

WILLESDEN GREEN BAPTIST CHURCH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020

11 Creditors: amounts falling due within one year

2020
£
Other creditors
51,222
Accruals and deferred income
2,800
54,022
12
Analysis of net assets between funds
Unrestricted
funds
Restricted
funds
£
£
Fund balances at 31 December 2020 are represented by:
Tangible assets
-
4,751,062
Current assets/(liabilities)
29,081
-
29,081
4,751,062		 2019
£
53,506
2,800
56,306
Total
£
4,751,062
29,081
4,780,143

13 Related party transactions

No trustee or other person, related to the charity, had any personal interest in any contract or transaction entered into by the charity during the year or the preceding year. Other than the Trustees above, the charity does not consider itself to have any other key management personal.

14 Analysis of changes in net funds

The WGBC had no debt during the year.