Charity registration number 1135448 (England and Wales) WILLESDEN GREEN BAPTIST CHURCH ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 WILLESDEN GREEN BAPTIST CHURCH LEGAL AND ADMINISTRATIVE INFORMATION Trustees Loma Anderson- Edwards (Church Secretary) LesAle {Church Treasurer) Sheila Price Mpaka Kinankaziko Andrea Marc Secretary Loma Anderson-Edwards (Church Secretary) Charity number 1135448 Principal address 94 High Road Willesden Green London NW10 2PR Independent examiner KLSA LLP Kalamu House 11 Coldbath Square London EC1 R 5HL Bankers Santsnder Business Banking 1 st Floor Operations Block TBP2 Bridle Road Boode Merseyside L30 4GB WILLESDEN GREEN BAPTIST CHURCH CONTENTS Page Trustees report Independent examinerfs report Statement of financial activities Balance sheet Notes to the accounts 9-18 WILLESDEN GREEN BAPTIST CHURCH TRUSTEES REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 The trustees present their report and financial statements for the year ended 31 December 2024. 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 goveming document. the Charities Act 2011 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance th the Financial Reporting Standard applicable in the UK and Republi¢ of Ireland (FRS 102)" (as amended for accounting periods commencing from 1 January 2016). Objectives and activities The primary objective of Wllesden Green Baptist Church is to advan￿ the Christian faith in accordance with the principles of the Baptisl denomination. Additionally, the Church seeks to promote education and engage in other charitable activities both within the United Kingdom and globally. The mission of Willesden Green Baptist Church is to live for God, please God, serve God, and grow in God. The Church is dedicated to enabling as many individuals as possible, from both the local and wider community, to participate in its worship services and activities and to become integral members of the church community. The Trustees, alongside church members, oversee all church activities and continuously monitor them, implementing necessary changes to involve a broader group of people. In planning for the year, the Trustees have adhered to the Commission's guidance on public benefit, particularly the detailed advice for charities promoting Christian values. We focus on supporting community members in practicing their faith through regular worship services that encompass teaching and prayer. offering pastoral care, and engaging in missionary work and community outreach. Church Leadership Willesden Green Baptist Church is currently overseen by a dedicated team of five deacons. Despite the challenges presented by the pastoral transition and their individual personal and professional commitments, the deacons, dedication remains unwavering. Their leadership is further supported by the active involvement of church members, regional ministers, and other Baptist leaders from the Northwest London area. During this period of pastoral transition, the leadership is also seeking to appoint a moderator to support and guide the church through the Baptist Union's recruitment prO￿sS for a new Senior Pastor. The trustees are committed to maintaining high standards of govemance and transparency in all aspects of our charitable activities. Regular Services & Worship At the outset of this year, the congregation engaged in two weeks of fasting and prayer, seeking divine guidance for the Church's direction in 2024. Our seNices persisted every Sunday morning at 11 am, and we inaugurated a monthly evening service held on the first Sunday of each month. Additionally, communion services were conducted on the third Sunday of each month. Lay preachers from within our congregation, along wilh guest speakers and ministers from affiliated churches, delivered Sunday sermons. These sermons were meticulously aligned with seasonal themes and significant events on the Church calendar throughout the year. Church Attendance In the year 2024, Mfillesden Green Baptist Church made significant strides in various aspects of its operations and community engagements. Despite facing challenges similar to those of previous years, including the absence of a permanent church leader and the review of our membership list, the church achieved a steady weekly attendance of its Sunday services. which averages between 55 to 60 people. that includes a small number of children and young people within the congregation. Church Membership Throughout the year, the church conducted membership meetings. and we regularly review our membership list, and we have seen a slight increase in membership by four individuals, including a husband and wife team, with significant experience in pastoral care and evangelism. Sadly, the congregation also eXperIen￿d the loss of several long-standing members who passed away during this period. The church continues to offer regular prayers for members wth long-term illnesses. disabilities, and for those who have been bereaved. WILLESDEN GREEN BAPTIST CHURCH TRUSTEES REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Achievements and performance Regular leadership meetings, known as Deacon's meetings. were held consistently throughout the year. Various groups continued to utilise the church's faalities, induding Slimming Worfd for their weekly Wednesday evening meetings, the Tamil Church for their weekly worship sessions, and a Brazilian church, which continues to use the church facilities for their weekly church services and other events. The church's facilities remained available for communty use, hosting events such as funeral services, children's birthday parties, book launches. community gatherings. and water immersion baptisms. Mission and Outreach Pastoral Care: predominantly falls under the responsibility of two deacons, supported by several church members, who regularly visit and call those unable to attend church services due to illness. frailty, or residency in care homes. The Open House Ministry: which meets fortnightly, adjusted its meeting time to 5 pm- 7 pm starting in September. Volunteers provide hot meals, clothing, and food parcels to vulnerable individuals during these sessions. Baptist Mission: The church continues to financially support the work of the Baptist Union's home missions and the Baptist Missionary Society's (BMS) foreign missions. Financial review We give thanks for God's ongoing provision and the faithfvlness of our church community. Despite not having a resident minister or leader in 2024, our financial position remained stable. Although this year's income did not reach last year's total-which was increased by a one-ts'me legacy of £19,000-church finances still showed a surplus. It should be noted that part of this legacy had to be refunded in 2024. due to an administrative error in the original calculation by the trustees responsible for distribuling the fvnd. We are also grateful for the income generated from the couple of rented manses owned by the church both of which were fully occupied throughout the year. This income is being set aside in a fund that is being built up to take care of any repairs and refurbishment that may be required down the road for either of the two properties. We also continued to let the church halls to extemal groups for private fvnctions. fvnerals. meetings and other events which provided additional income for the church. We are also building a fund for the repair, maintenance, and refurbishment of the church premises. These funds have grown significantly, potentially creating a surplus to appoint and remunerate a resident minister. However, appointing a minister who resides in one of the manses would result in a loss of revenue from that asset, and this we have carefully considered. Once again, we managed to keep overall expenses lower than in the previous trrfo years. This was not achieved by deliberately reducing day-t¢Trday running costs. but rather because reduced level of activities. For instance, our long-standing Football Academy-a valued project for local youth-had to be discontinued due to a decline in interest, attendance, and available volunteers. Also. a significant decrease was seen in premises repairs and maintenance expenses, largely because there was little need for repair or refurbishment work during the year. For the year 2025, it is anticipated that there wll be substantial expenses related to the repair and maintenance of church premises and one of the manses. as well as the appointment of a minister. These factors are expected to lead to a notable increase in expenditure for 2025. The 2024 bottom-line result was better than 2023. We aim to maintain this trend despite the expected increase in expenditure next year. In conclusion, the leadership is committed to managing the church's fvnds and financial wellbeing responsibly. The financial report indicates that our reserves are in a satisfactory state. We remain optimistic about the future of the church, both financially and spiritually, as we continue our efforts to appoint a new leader to guide us in our mission to serve the local and wider community. Our mission remains focused on 'Building a people of Praise, Purpose and Power." WILLESDEN GREEN BAPTIST CHURCH TRUSTEES REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Reserves Policy Donations received under Gift Aid or deeds of covenant are recognized as income tax recoverable at the time of receipt. In accordance with the Church's policy, we maintain funds of approximately £36,000 to cover four months, crucial operational costs of running the church, excluding any restricted funds. The financial results of the reviewed year confimi the effectiveness of this policy and do not undemiine its validity. We will closely monitor all planned future commitments to ensure the Maintenan￿ of this policy. We wll also be reviewing the fund level as the cost of living inevitably increases. Risk Management Safeguarding continues to be observed, and DBS certification ensured for all leaders and volunteers. We have two Safeguarding officers- both deacons - to oversee safeguarding in the church. Another deacon is responsible for health and safety, and risk management. RiskAssessments are regularly carried out and all appliances in the church are serviced regulady. We have fully operats.onal CCTV cameras around the exterior of the church and have a burglar alarm and fire alarm, both of which allow visual checks through cameras to be made on the interior of the building. We also have an intercom which allows for visual checks on all visitors to the church. Reviews are undertaken regularly by the Deacons by way of the monthly meetings 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 discemible risks and provide adequate cover in temis of relevant insurances. The deacons 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. Plans for the Futu￿ 2025 As we look ahead with faith and expectancy, Wllesden Green Baptist Church is committed to deepening our ministry and expanding our impact. Key initiatives planned for the coming year indude= Empowering Women's Fellowship (2024): We will continue to nurture and develop the Women's Fellowship, providing meaningful opportunities for spiritual gr0￿h, fellowship, and setvice. Establishment of Church Elders: We envision creating a structured framework for appointing Elders who wll actively support church leadership. Their role will be vital in strengthening operational ministries, with a particular emphasis on pastoral care and discipleship. Reinstatement of Weekly Evening Services: We plan to reintroduce weekly evening worship services, offering additional space for reflection, praise, and community engagement. Renewal of Corporate Prayer and Bible Study Gatherings: A revised format for our prayer and Bible study meetings will be introduced to encourage deeper participation. spiritual enrichment. and unity within the body of Christ. Structure, governance and management Willesden Green Baptist Church is constituted as a charitable trust registered wth the UK Charity Commission. Willesden Green Baptist Church is govemed by its constitution following the Approved Goveming Document provided by the Baptist Union (adopted July 2009). This constitution was submitted to the Charity Commission along with our fomial application for independent Charity Registration. The Church received Charity status from the Charity Commission in April 2010. The trustees who served during the year and up to the date of signature of the financial statements were.. Lorna Anderson-Edwards (Church Secretary) Les Ale (Church Treasurer) Sheila Price Mpaka Kinankaziko Andrea Marc WILLESDEN GREEN BAPTIST CHURCH TRUSTEES REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Recruitment and appointment of trustees The Qualifications of a Deacon= A Deacon should be a person: Of mature faith Filled wth the Holy Spirit Supports fully the worship and wtness of the church Supports the members of the local church in all areas of their growth Able to work in harmony with the Minister and fellow Deacons A Deacon is a person appointed by the church, under the guidan￿ 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 500A of the vote cast. The deacons are elected in the month that church's AGM takes place. which is usually in November. However, Deacons commence their roles and responsibilities at the start of the followng year. 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. 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 infomially through the C¢>operation between churches and expressed fomially through joining a Baptist Association and the Baptist Union. The constitution defines the trustees of VbAllesden Green Baptist Church as the Minister(s), Secretary, Treasurer, Deacons and employed administrative staff. who by the nature of their role work together with the Ministerlsl and the Deacons in the overall leadership of the Church. The deacons usually meet on the third Sunday of each month. Afterward. there's a members, meeting on the last Sunday of the month. During these meetings, they discuss church matters, which include among other subjects, membership, electing deacons, and financial issues. Any decisions about the church's direction are first discussed by the deacons and then brought to the members for approval, debate and where necessary a vote. Currently, there are only five deacons, but they manage the workload that typically requires eight or more deacons. Additionally, a team of volunteers assists with various tasks, such as pastoral care, building maintenance, social care, youth work, music. and general housekeeping. WILLESDEN GREEN BAPTIST CHURCH TRUSTEES REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 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 AC￿pted 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.. select suitable accounting policies and then 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 and explained in the accounts- and prepare the accounts 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 wth 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 i￿egUlar1ties. This report is approved by the trustees and signed on its behalf by= Lorna Anderson-Edwards (Church Secretary) Trustee Les Ale (Church T￿aSu￿rI Trustee Dated: 27 October 2025 Dated.'27 October 2025 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 SL￿eMentS of Vkfjllesden Green Baptist Church (the WGBC) for the year ended 31 December 2024. 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 CharitiesAct 2011. I report in respect of my examination of the WGBC'S financial statements carried out under section 145 of the Charities Act 2011. In Carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the CharitiesAct 2011. Independent examinerfs statement Your attention is drawn to the fact that the charty has prepared the financial statements in accordance with the relevant version of the Statement of Recommended Practice applicable to charities preparing their financial statements in accordan￿ 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 extsnt regulations but has now been withdrawn. l understand that this has been done in order for the financial statements to provide a true and fair view in accordan￿ with UK Generally Accepted Accounting Prath'ce. I have completed my examination. I confimi that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect= accounting records were not kept in respect of the WGBC as required by section 130 of the Charib"es Act 2011. the financial ststements do not accord wth those records: or the financial statements do not comply with the applicable requirements conceming the form and content of financial statements set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the financial statements 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. Harsheel Dodhia KLSA LLP Kalamu House 11 Coldbath Square London EC1R 5HL Dated: 27 October 2025 WILLESDEN GREEN BAPTIST CHURCH STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2024 Unrestricted Restricted funds funds 2024 2024 Total Unrestricted Restricted funds funds 2023 2023 Total 2024 2023 Notes Income from: Donations and legacies Charitsble activities Investments 52,843 3,127 7,999 4,381 19,889 53,337 57,224 23,016 61,336 75,484 23,068 2,750 2,491 2,454 46,804 77,975 25,522 49,554 Total income 63,969 77,607 141,576 101,302 51,749 153,051 Expenditure on: Charitable activities 60.860 54,228 115.088 82,792 54,787 137,579 Total expenditure 60.860 54,228 115.088 82,792 54,787 137,579 Net income and movement in funds 3,109 23,379 26,488 18,510 (3,038) 15,472 Reconciliation of funds: Fund balances at 1 January 2024 84.326 4.726,280 4.810.606 65,816 4,729,318 4,795.134 Fund balances at 31 December 2024 87,435 4,749,659 4,837,094 84,326 4,726,280 4,810,606 The statement of financial activities indudes 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 2024 2024 2023 Notes Fixed assets Tangible assets Current assets Debtors Cash at bank and in hand 12 4.573.669 4,622.670 13 4.000 269,266 1.500 201,503 273,266 203,003 Creditors: amounts falling due within one year 14 (9.841) (15,067) Net current assets 263,425 187,936 Total assets less current liabilities 4,837.094 4,810.606 Income funds General restricted funds Revaluation reserve 2,211,608 2,538,051 2,188,229 2,538,051 16 4,749,659 87,435 4,726,280 84,326 Unrestricted funds 4,837,094 4,810,606 The financial statements were approved by the Trustees on 27 October 2025 Lorna Anderson-Edwards (Church Secretary) Trustee Les Ale (Church Treasurer) Trustee WILLESDEN GREEN BAPTIST CHURCH NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 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 accordan￿ with the WGBC'S governing document, the Charities Act 2011, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordan￿ wth the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102)" 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 steding, 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 existen￿ for the foreseeable future. Thus the trustees continue to adopt the going cOn￿M 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 furtheran￿ of their charitable objectives. Restricted fvnds are subject to speafic conditions by donors or grantors 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 wll be received. Cash donations are recognised on receipt. Other donations are recognised once the WGBC has been notified of the donation, unless perf0mlan￿ 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 activty. The costs of each aclivity 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 be￿een 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 2024 Accounting policies {Continued) Expenditure is recognised on an accrual basis as a liability is incurred. Expenditure indudes 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 ne￿SSary to support them. Goveman¢e 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 bul do not directly represent charitable activities and include office Costs, govemance 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 ￿ndS and expenditure on charitable activities on the basis of consislent 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 wth 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) 250A Straight Line Method Plant and machinery The gain or loss arising on the disposal of an asset is determined as the differen￿ 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 impainnent loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impaimient loss (if any). 1.8 Cash and cash equivalents Cash and cash equivalents include cash in hand. deposits held at call wth banks, other short-term liquid investments wilh original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. 10- WILLESDEN GREEN BAPTIST CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Accounting policies {Continued) 1.9 Financial instruments The WGBC 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 WGBC'S balan￿ sheet when the WGBC becomes party to the contractual provisions of the instrument. Financial assels and liabilities are offset, wth 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 finanang transaction, where the transaction is measured at the present value of the future receipts di$￿Unted 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 pri￿ 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. 1.10 Employee benefits The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received. 1.11 Retirement benefits Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due. 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 experien￿ 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 a¢￿UntIng 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 vthere the revision affects both current and future periods. 11 WILLESDEN GREEN BAPTIST CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Donations and legacies Unrestricted Restricted funds funds Total Total 2024 2024 2024 2023 Donations and gifts Other (986) 53,829 2,526 1,855 1,540 55,684 23,072 54,903 52.843 4,381 57,224 77,975 Charitable activities 2024 2023 Sale of goods 23,016 25,522 Analysis by fund Unrestricted funds Restricted funds 3,127 19,889 23,068 2,454 23,016 25,522 Income from investments Unrestricted Restricted funds funds 2024 2024 Total Unrestricted Restricted funds funds 2023 2023 Totsl 2024 2023 Rental income Interest receivable 7,060 939 52,980 357 60,040 1,296 2,750 46,688 116 49,438 116 7.999 53.337 61.336 2,750 46,804 49,554 12- WILLESDEN GREEN BAPTIST CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Expenditure on charitable activities Unrestricted Restricted funds funds 2024 2024 Total Unrestricted Restricted funds funds 2023 2023 Total 2024 2023 Direct costs Outreach, social action and Open House Evangelism Children & Youth work Assistance to Fellowship members Mission work & contribution Musicians 1.212 1.000 180 1.212 1.000 180 311 311 1,032 1.032 600 600 500 500 789 2.872 789 2.872 2,729 2,729 6.653 6.653 4,572 4.572 sha￿ of support and governance Costs (see note 7) Support 103,991 Governan 103,991 127,221 127,221 5,786 5,786 103,991 11,097 115,088 127,221 10,358 137,579 Analysis by fund Unrestricted funds Restricted funds 54,990 49.001 5,870 5.227 60,860 54.228 78,220 49,001 4,572 5,786 82,792 54,787 103.991 11.097 115.088 127,221 10,358 137,579 13- 00(O*r cooininr OfN rrCO(D( (ci ¢Ji ￿