|Contents||Page|
|---|---|---|
|Directors' Report
Independent
Auditor's|report|1-6
7-9|
|Statement
of Financial|Activities|10|
|Balance Sheet||11|
|Notes to the Financial|Statements|12-19|
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|Abena Boateng|Abena Boateng|
|---|---|
|Elizabeth|Welch|
|Geoffrey|Biggs|
|Kenneth|Asiedu|
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|||F|OR THE YEA|R|ENDED|3|1 MARCH||2|022||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
||||||2022||||||2021|||
||||Unrestricted|Restricted|||Total|Unrestricted|||Restricted||Total|
||||Funds||Funds|||||Funds|Funds|||
|||Note|||F|||||F|||F|
|Income from:||||||||||||||
|Donations
and legacies|||87,971||57,128||145,099|||82,658|360||83,018|
|Charitable
activities|||164,469||||164,469|||57,999|||. 57,999|
|Other Income
CJRS Income|||1,286
3,942||7,407||8,693
3,942|||2,076
13,448|200||2,276
13,448|
|COVID Winter Grant|||||||||||30,000||30,000|
|Surplus
on granting|long lease|||||||||( 6270)|||( 6270)|
|Total income|||257 668||64 535||322 203|||149911|30560||180471|
|Expenditure
on:||||||||||||||
|Charitable
activities||3|223,668||65,479||289,147|||232,038|5,742||237,780|
|Reduction
in pension||11|(
514)||-|(|514)||(|9109)|-|(|9 109)|
|provision||||||||||||||
|Total expenditure|||223 154||65479|288633|||222 929||5 742|228 671||
|Net income/(expenditure)|||34 514|(|944)||33570||(|73018)|24 818|(|48 200)|
|Transfers
between|funds|||||||||3019|( 3019)|||
|Net movement
in funds|||34,514|(|944)||33,570|(||69,999)|21,799|(|48,200)|
|Reconciliation
offunds||||||||||||||
|Total funds
brought|forward|9|7 071 996|21 799||7 093795||7|141 995|||7141 995||
|Total funds carried|forward|9|~710
10|20M55||7 127365||~771 rtrL6|||21 799|~709 795||
||||WESTBOURNE PARK BAPTIST|WESTBOURNE PARK BAPTIST|CHURCH||||
|---|---|---|---|---|---|---|---|---|
|||||BALANCE SHEET|||||
||||AS|AT 31 MARCH 2022|||||
|||||2022|||2021||
||||Note||||||
|Fixed assets|||||||||
|Tangible fixed assets||||7,074,572||||7,082,619|
|Current assets|||||||||
|Debtors||||57,347||21,861|||
|Cash at bank||||49 329||61 386|||
|||||106,676||83,247|||
|Creditors:|Amounts|falling|||||||
|due within|one year||8a|(35983)||(46348)|||
|Net current assets|||||70693|||36899|
|Total assets less current liabilities||||7,|145,265|||7,119,518|
|Creditors: Amounts
due after more than||falling
one year|8b|(|1,500)||(|5,100)|
|Provisions||||(|16400)||(|20 623)|
|Net assets|||10|~712736|||~79'I~79||
|Funds|||||||||
|Unrestricted|Funds|||7,106,510|||7,071,996||
|Restricted|Funds||||20 855|||21 799|
|||||~712 365|||7093795||
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|2|INCOME|||||||
|---|---|---|---|---|---|---|---|
|||||||2022|2021|
||a Donations
and legacies|||||||
||Donations|||||72,846|69,532|
||Tax recoverable|||||15;125|13,486|
||Food Pantry Restricted|||Income:||||
||Grant.s|||||46,500||
||Other|||||10628||
|||||||145 9|83018|
||b Charitable
activities|||||||
||Lettings|||||151,720|45,615|
||Salary recharges|||||12749|12384|
|||||||~14 469|~57 99|
|3|EXPENDITURE|||||||
||Activities undertaken||directly|||2022|2021|
||Salary and pension costs|||||146,546|119,170|
||Other staff costs
Cost of ministries|||||2,292
41,975|2,575
9,909|
||Manse 8 flat running|costs||||6,652|10,659|
||Venue running
costs|||||16,406|35,816|
||Subscriptions|||||4,295|3,519|
||Depreciation|||||13119|14693|
|||||||231 285|196341|
||Support &Administration|||||||
||Bank charges|||||463|348|
||Printing,
postage and|stationery||||1,620|2,051|
||Telephone
and internet|||||7,288|7,487|
||Accounting
software|||||686|539|
||Sundry expenses|||||841|910|
||Governance
costs|||||||
||Audit fee|||||5,100||
||Accounts
preparation|||||1,620||
||Independent
examination||||costs||3300|
|||||||17618|14635|
|Grant funding ofactivities|||(see||note 4)|40 244|26 804|
|Total||||||j229 147|~237 78|
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|4
GRANTS PAYAB|LE|||||||||
|---|---|---|---|---|---|---|---|---|---|
||||||||2022||2021|
|World Mission||||||||||
|Baptist Missionary|Society||||||3,897||3,859|
|Wycliffe Bible Translation|||||||2,700||2,601|
|SIM International|||||||||300|
|Margaya
Fellowship|(Sri||Lanka)||||750||750|
|London School ofTheology|||||||500||500|
|London Baptist Association|||||||100|||
||||||||7 947||8010|
|Home Mission||||||||||
|Westminster
Street|Pastors||||||500||500|
|Agape Arabic Christian||Centre|||||500||500|
|Christians
Against
Poverty|||||||350||350|
|Parish
Nursing|||||||350||350|
|BU Home Mission|||||||3,597||3,559|
|Westbourne
Park Family|||Centre||||27 000|13535||
||||||||32297|18794||
||||||||40 244|26 804||
|STAFF COSTS||||||||||
||||||||2022||2021|
|Gross salaries||||||131,313||105,202||
|Social security costs|||||||4,670||4,218|
|Employers
contribution||to|defined|contribution|pension schemes||10563||9750|
|||||||146,546||119,170||
|Pension costs ofdefined|||benefit|pension schemes||(|514)|(|9109)|
|||||||146032||~11|061|
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|TANGIBLE FIXEDASSE|T|S|||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|||||Freehold|||Leasehold||Equipment||||||
|||||Properties|||Property||&|Furniture||Computers||Total|
|Cost|||||||||||||||
|At 1 April 2021||||56,302|||6,976,011||114,923||||15,530|7,162,766|
|Additions|||||||||||2,790||2,282|5,072|
|Disposals|||||||||||||||
|At 31 March 2022||||56302|||6 976|011|117713||||17812|7 167838|
|Depreciation|||||||||||||||
|At 1 April 2021|||||2,251|||||64,768|||13,128|80,147|
|Charge for the year|||||1,'I 25|||||10,589|||1,405|13,119|
|Released
on disposal|||||||||||||||
|At 31 March 2022|||||3376|||||75 357|||14533|93266|
|Net book value|||||||||||||||
|At. 31 March 2022||||52 926|||~697|11||42 3M|||3279|~7074
72|
|At 31 March 2021||||~54 0
1|||~6976|11||~5~15|||2402|7082619|
|Freehold properties|||||||||||||||
|The church property was acquired|||by the predecessor||||trust|in 1875and|||the original cost is|||considered|
|have been fully depreciated||prior|to the|building
project. 2 Westbourne|||||||Park Villas||(Manse and flat) we||
|acquired
by the predecessor||trust|in 1920.||||||||||||
|Leasehold property|||||||||||||||
|The new church
premises
church site, from 2019.|were funded|||by|Dolphin|Square||Foundation|||in return||for a long lease of t||
|DEBTORS|||||||||||||||
||||||||||||||2022|2021|
|Trade debtors|||||||||||||15,843|4,233|
|income tax recoverable|||||||||||||14,947|13,486|
|Prepayments
and accrued||income|||||||||||6,499|4,142|
|Other debtors|||||||||||||20 058||
||||||||||||||~7;347|~21
61|
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|||2022|2021|
|---|---|---|---|
|Trade creditors||1,540|11,676|
|Accruals and deferred|income|30,843|30,015|
|Other taxes and social|security||1,057|
|Other creditors||3600|3600|
|||~3883|4~348|
|mounts
falling due after one year||||
|||2022|2021|
|Other creditors||~15|~51|
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||||Balance as at|||Balance as at|Balance as at|
|---|---|---|---|---|---|---|---|
||||1 April|Income|Expenditure||31 March|
||||2021 .|||Transfers|2022|
|Restricted Funds||||||||
|Food Pantry
Paddington
Paddington
Unrestricted|Development
Welfare
Funds|Trust|21,799
21,799|57,128
7,207
200
64,535|( 58,072)
(
7,207)
(
200)
( 65,479)||20,855
20,855|
|General
Designated|fixed assets|fund|41,934
7030062
~79 795|257,668
—
322 203|(223,154)
-
(~88 33)|1,125
77,573
(1125)7028937
- ~712736||
|Th|e Paddington|VVelfare fund was a sp|ecific donation
rec|eived which h|as bee|n passed|on to that charity.|on to that charity.|
|---|---|---|---|---|---|---|---|---|
||||Balance as|at|||Balance as at||
||||1 April|Income|Expenditure|||31 Ilarch|
||||2020||||Transfers|2021|
||Restricted|Funds|||||||
||Food Pantry
Paddington
Welfare|||30,360
200|(
5,542)
(~200||(3,019)|21,799|
||Unrestricted|Funds||30,560|(|5,742)|(3,019)|21,799|
||General||110,808|149;911|(222,929)||4, 144|41,934|
||Designated|fixed assets fund|7 031 187||||(1 125)|7 030062|
||||7 141 995|180471|(228 671)||-|7093795|
|10|ANALYSIS OF NET ASSETS|||||Net|Long||
|||||Fixed|Current||Term|Total|
|||||Assets|Assets||Liabilities|2022|
||Restricted|||||20,855||20,855|
||Designated|fixed assets fund||7,028,937||||7,028,937|
||General|||45635||49 838|(17900)|77573|
||Total|||~7074
72||~706 3|(17900)|7 127365|
|||||||Net|Long||
|||||Fixed|Current||Term|Total|
|||||Assets|Assets||Liabilities|2021|
||Restricted|||||21,799||21,799|
||Designated|fixed assets fund||7,030,062|||7,030,062||
||General|||52 557||15100|(~25 723|41 934|
||Total|||~70 2
19||36889|(~2723) ~7093 7 5||
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|cial
assumptions
underlying
the valuation
were as follows:||
|---|---|
|RPI price inflation
assumption|3.20%|
|CPI price inflation
assumption|2.70%|
|Minimum
Pensionable
Income increases (CPI plus 0.75% pa)|3.20%|
|Assumed
investment
returns||
|- Pre-retirement|2.95%|
|- Post retirement|1.70%|
|Deferred pension increases||
|—Pre April 2009|3.20%|
|- Post April 2009|2.50%|
|Pension increases|2.70%|
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