Westminster
Chapel
Westmlnster Chapel
la company limited by guarantee)
Report and Flnanclal Statements
For the year ended
37 December 2024
Company Number 64S8950
Charity Number 1144831

Westminster Chapel
Contents
Page
Reference and Administrative details
Trustees Report
Independent Auditor's Report
Statement of Financial Actlvitles
Balance Sheet
Statement of Cash Flows
Notes on Flnanclal Staternents
12
13
14

Westminster Chapel
Reference and Administratlve Detalls
Operational Address
Buckingham Gate. London, SW1 E 6BS
Directors
The trustees. who are also the dlrectors for the purposes of company law. who served during the period are
listed below:
Mr James Edwards (Senior Finance Offlcer)
Mr Paul Gardner (Secretary)
Mr Stephen Sloan
Mr Richard Bursby
Mr Aklnsola Aklnyose
Mrs Racheljohn
Mrs Ibelema Emeh
The key management personnel comprlse all the directors.
Bankers
Barclays Bank PLC- 93 Baker Streei, London W1A 4SD
CAF Bank Ltd- 25 Kings Hill Avenue. Klngs Hlll, West Mallln& Kent, ME19 4JQ
Auditor
Xelnadln Audit Limited- 5 Robln Hood Lane, Sutton. Surrey, SM12SW
Solicitors
Anthony Collins Solicitors LLP- 134 Edmund Street, Birmingham, B3 2ES

Westminster Chapel
ustees R
TheTrustee5 presenttheir report together with the audited financial statements of the Chapel for the year ended 31 December
2024. The financial statements comply with the Companies Act 2006, Charlties Act 201 l. the companYs Memorandum and
Articles of A550ciation, and Accounting and Reporting by Charltles: Statement of Recornmended Practice applicable to charities
preparing their accounts In accordance with the Financial Reportlng Stsndard applicable in the UK and Republic of Ireland {FRS
1021. and FRS102.
Structure, Governance and Management
Governlng Document
Westminster Chapel {the"Chapel'? is registered with the Charltycommission as a Charity{no. 1144831) and is also
a company (no. 06458950). The Chapel is governed by Its Mernorandum and Articles ofAssoclatlon, It sets out the
objects and powers of the charitable company and how the charity is to be governed, Under the Articles of
Assoclatlon, all future trustees shall be appointed by a resolution of the church members.
Trustee Recruitment and Induction
The Elders Identify sultable candidates who are Invited to seNe as Trustees, subject to the affirmation of Chapel's
members. Suitabi1Sty IS based prirnarily on commltment to the Chapel, demonstrated by membership, regular
attendance and a high degree of Involvement and signiflcant spiritual maturity.
New Trustees are provided with copies of a Trustee job description. Chapel's mission, vlslon and values. the last
three years, Annual Report5 and Accounts, and the followlng Charity Comrnission document5.' the Essential
Trustee.. What You Need To Know (CC3); Falth in Good Governance,. General Guldance on Public Benefit.
Organisational Structure
The Chapel is led by an Eldershlp Team made up of seven Elders. three of whom are also Trustees. Anclrew
Mehlgan, who serves as one of the Elders but is not a Trustee. is a full-time member of stsff who acts as the
Eldership team coordinator. This team meets twice rnonthly to review strategy and set the spiritual direction of
the church. The Trustees support the Eldership Team and meet slx tlme5 a year to revlew the management and
adminlstration of the Chapel's property and funds. policy and other operational matters. Conflicts of interest are
managed sensitively and appropriately in accordance with the Charity Commission guidance. Trustees and all
Elders meet informally twlce a year.
The key management personnel of the charlty as Ilsted on page 1 are In charge of dlrecring, controlling, running
and operating the charity on a day to day basis. Apart from the detalls regarding salary payments to one Trustee
and family members of a second 5ervlng trustee a5 described further in note 9. all other Trustees give of their
tlme freely and received no remuneration in the year. Detai15 ofTrustees' expenses and related paty transactions
are also disclosed in Note 9 to the financial statements.
The pay of senior staff Is revlewed annually and normally increased in accordance with average earnings. Each
senior stafPs pay review is carried out by the Trustees in their absence.

Westminster Chapel
esR
tl
ued
Related Parties and Other Organizations
The Chapel Is afflllated with Commisslon Apostolic Trust, the FIEC {Fellowship of the Independent Evangelical
Churches), the EFCC (Evanselical Fellowship of Congregational Churches) and is a member of the Evangelical
Alliance.
The Chapel also supports a number of other charltable organisations both in the UK and abroad and In particular
a pregnancycrisis centre in Westminster {The Gate). Christian overseas missionaries and mission organisations.
Risk Management
The Trustees have assessed the major risks to which the church Is exposed, in partlcular those related to the
operations and finances of the church and are satlsfied that systems are In place to mltlgaie Its exposure to the
major risks. The principal risks and uncertaSntles currently facing the charity are considered to be:
Mission risk.. The Chapel should contlnue Its key misslon of beln8'A witnessing church, and a church worth
witnessing- for the 81ory of God."
Financial risk: The value of the Chapel bulldlng is high in proportion to the income expected from the size
of the Chapel's current membership. Unexpected repair cost could potentially be unaffordable relative to
Its current income and reserve level.
Rlsk In connection wlth working with children and youn8 adults.. The Chapel staff and volunteers have
regular contact with children and young adults. There is a rlsk that the appropriate level of due care over
these individuals is not adequate.
Our plans and strategies for managlng these risks include,,
regular meetings between the leadership team and monitoring of membership level. missional activltles;
malntaining adequate Insurance cover. ensure an adequate reseNe is held, the use of fire, and intruder
alarms.. and
having appropriate safeguarding procedures In place.
Grant-making policy
The trustees may make grants at thelr absolute dlscfetlon. They are made to charltles or as part of unsoliciied
giving to beneficlarles whose activities are considered to advance the Chrlstian faith.
Reserves policy
The trustees aim to maintain free reserves in unrestrlcted funds of about £200,000, which Is three months.
unresidaed regularly re￿(cUrring charitable expenditure. The trustees consider that this level will provide
sufficient funds to respond to an unexpetted drop in income or rise in expenditure in the short term allowing
fixed assets to be realised should the need arise.
The balance held as unrestricted funds at 31 December 2024 was £3,851,236 of which £436,773 are regarded as
free reserves held within the Missions and General funds. after deduction of all tangible fixed assets, and
investments.

Westminster Chapel
Tr
ees Re
ort
continued
Objectives and Activities
The Trustees confirm that they have complled wlth the duty in section 4 of Chapter 1 of the Charities Act 2011
have due regard to the public benefit guidance published by the Charity Commission in determining the actlvities
undertaken by the Chapel.
The Chapel's object set out in Its Articles of Association is to advance the Christian faith as an independent
protestant church according to the Basis of Faith,.
The Chapel's Vislon as set out In Its Vlsion Statement is to see 'Hundreds of lives transformed, tens of
congregations started,. More details are available at our website http:l/www.westminsterchapel.org.uklwho-we-
arel. Practically speaking this means Blessing Everyone. Strengthenlng Bellevers and Tralning Leaders.
The Trustees do not belleve that It Is possible to accurately report on the Indlvldual performance of the above as
they are Intrinslcally linked and thus impossible to account for Independently. The Trustees believe that to do so
would not give an accurate representatlon of the Chapel'5 purpose or achievements. However the Chapel's
significant activltles that advance its vlsion Include:
A Sunday servlce forthe proclamatlon of the Chrlstian falth. corporate worship, the study ofthe Bible and
the mutual encoura8ement of those attending. A low-cost lunch (cateringfor 100-120 people eachsunday)
Is provided for anyone that would like to attend.
Learnlng lunches take place on Sundays approxlmately once each rnonth and acts as a forum for
discussion and debate of currently topical faith issues on social and other medla.
Life Groups, small relatlonal groups of 8-14 people that meet during the week In people's homes across
London to encourage friendshlp ènd discipleship.
A Foodbank which glves three days of nutritionally balanced (non-perishable) food an(J support to people
experlenclng emotlonal or flnanclal crlsls In the borough of Westminster.
Chlldren and Youth Ministry, provides activitie5 on a Sunday and during the week, to equip and build
friendshlps.
Prayer Meetings both weekly and monthly.
Mission and Benevolent Gimns: The Chapel gives about a tenth of its income to mlssion causesthat further
its vision in London and overseas, and also provldes flnancial supporr, loans and glfts, to members and
friends of the Chapel experiencing financlal hardshlp.
Pastoral Care Team that provide5 care. support and relational connectlons to members in need,
The Trustees are confident that the church has advanced the Christian faith for the public benefit. The
Chapel receives a certain amount of voluntary help. It is not possible to quantifythe value of this.

Westminster Chapel
Trustees Re
ort
inued
Achievements and Performance
Members
In 2024 the Chapel had 9 new members. 29 resignations and 1 baptlsm. Comparatlve figures for 2023 were 13
new members, 14 resignations and 5 baptisms.
Sunday Services and Special Services
The way we measured attendance had to change in 2020 as we were no longer meeting in the bullding so we
measured online attendance by counting peak concurrent views across the platforms. Our average In person
viewins and in person Church service attendance each Sunday was 147 for 2024. For comparlson, in 2023, the
average In person and online viewing Church service attendance each Sundaywas 160. The Chapel beneflted from
the ministry of several guest Speakers, Mlck Taylor, Mark Waterfield, Malcolm Kayes, John Grove5 and Vinu Paul.
In addition to thls several preachlng series were followed which Included Journey of a Llfetime, The Church,
Together on a Misslon and Contenders.
These series all look at contemporary societal and personal Issues wlth a blbllcal perspective.
Llfe Groups
At the end of the year there were 10 Chapel Life Groups. This Is an Increase on the 9 Life Group5 operating In
2023. Thls increase resulted from a new life starting In West London.
Foodbank
A total Df 1.502 adults anrj 392 children were fed through the Foodbank In 2024, which Is a Increase of 97 adults
and a decrease of 73 children when compared with the 1,405 adults and 465 children fed by the Foodbank in
2023, A full-time Foodbank Coordlnator oversees the runnlng of the Centre. management of volunteers and funds
and seekin8 Ways to increase awareness to the public. We continue to seek growth in this ministry and are looking
for local funding to assist us in the running of the Foodbank.
Chlldren and Youth
The Chapel had an average of 26 children aged 0-10 and 7 children aged 11-18 at Its Sunday mornlng online
services in 2024. Thls Is unchanged from those children and youth attending during 2023.
Prayer
During 2024, 1 prayer meeting was held on a Wednesday and 8 prayer meetlngs that were held on Sunday5 at
approximately monthly intervals. Before every Sunday mornlng semce, a falthful group. growing in numbers, has
continued to gatherto pray.
New Acre Cafe
NewAcre Café Is sltuated at the main front entrance enabling the Chapel premises to be open to members of
the public between 9.00 AM and 4.30 pm Monday through to Thursday, as well as be open on Sundays after the
Sunday morning service.

Westminster Chapel
Trustees
conti
Current and Future Charitable Activities
Mission and 8enevolent Fund Glving
The Chapel gave £46.804 In Mlsslon and Benevolent Giving for the 12 months ended 31 December 2024. A
summary of the recipients are included in the acco(tnts.
Upcoming 2025 Ministries
Our sermon series for the comlng year include,, Lets Go. looklng at Chapterfs 9 & 10 in the Book of Acts, MeetJesu5
which looks at the story of Easter, Exodus. taking a look at the book of Exodus and Hot Topic, taklng a look at five
very popular bibllcal toplcs and questlons.
Financlal Review
The financial results from l Jan 2024 - 31 Dec 2024 show a net surplus of £17,394. The Chapel is substantially
funded by donations from its congregation. These enable staff to be employed and premlses maintalned $0 that
the Chapel can carry out its minlstry.
Fundraising
Westminster Chapel engaged in fundraising. This took the form of receiving free-will offeringsldonations, some of
which were gift aided, from members of our fellowshlp durlng the year. However. we did not contract the seNice
of any professional fundraisers as defined by section 58 of the Charitles Act 1992. Other than publicly invlting an
offering at every Service, we do not engage in persistent fundralsing or intrusive fundraising practices with any of
our donors, including vulnerable people, and we never have private or coercive dlscussions with Individuals about
their giving. Our fundraising practlces are ethical and in accordance with Biblical principles. No complaints were
received about our fundraising practices.
Related Parties
An unlncorporated excepted charlty. known as Westmlnster Chapel, is the legal owner of the land and buildings
known as Wesiminster Chapel. Buckingham Gate. The Westminster Chapel corporate charity is the trustee of this
unincorporated charity and is permitted to use the Chapel property for worship. by persons being Protestant
Dissenters of the Independent Denomination, by a Charity Commlsslon scherne dated 14 November 2013. Further
details about the use of this property are given In Note 10.
Westminster Chapel Manse Trust is a registered charlty{no:259677) and is the legal owner of a leasehold property.
The Westminster Chapel corporate charity Is trustee of thi5 unincorporated charity and 15 permitted to use the
leasehold property by a Charity Commission scheme dated 14 November 2013. Further deialls about the use of
this property are given In Note 10.

Westminster Chapel
Trustees Re
conti
Statement of Trustees, responsibilities
The Trustees (who are also directors of Westminster Chapel for the purposes of company law) are responsible for
preparing the Trustees'Annual Report and the financial statements in accordance with applicable law and United
Kingdom Accounting Standards {United Kingdom Generally Accepted Accounting Practice).
Company law requires the Trustees to prepare financlal statements for each financial year whlch give a true and
fair view of the state of affair5 of the charltable company and of the incoming resource5 and application of
resources. including the income and expenditure, of the charltable company for that period. In preparing these
financial statements, the Trustees are required to:
select suitable accounting policle5 and then apply them conslsiently.
observe the methods and prlnclples in the Charlties SORP.,
make Judgments and estimates that are reasonable and prudent.,
state whether applicable UKAccounting Standards have been followed, subject to any material departures
disclosed and explained in the financial statements; and
prepare the financial statements on thegoing concern basis unless It Is Inappropriate to presume that the
charitable company will continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufficlent to showand explain the
charitable companys transactions and disclose wlth reasonable accuracy at any time the financial posltlon of the
charitable company and enable them to ensure that the financlal statements comply with the Companies Act
2006. They are also responsible for safeguarding the assets of the charitable company and hence for taklng
reasonable steps for the prevention and detection of fraud and other Irregularltles.
In so far as the Trustees are aware:
there Is no relevant audit Informatlon of whlch the charltable companys auditor is unaware,. and
the Trustees have taken all steps that they ought to have taken to make themselves aware of any relevant
audit information and to establish that the auditor is aware of that information.
In preparing this report, the Trustees have taken advantage of the small companies exemptlons provided by part
15 of the Companies Act.
On behalf of the Trustees
James Edward5
Date: 151h Sepiember 2025
Westminster Chapel. Bucklngham Gate, London. SW1E 6BS

IN
Opinion
We have audited the financial statements of Westminster Chapel (the 'charity) for the year ended 31 December
2024 whlch comprise the Statement of Financial Activities, the Balance Sheet, the Statement of Cash Flows and
the notes to the financial statements, including a summary of significant accounting policies. The finar)cial
reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting
Standards, including Financial Reportlng Standard 102 The Finonciol Reporting Standord applicoble in the UK and
Republic of Ireland (United Kingdom Generally Accepted Accountlng Practice).
In our opinion the financial 5tatements.'
give a true and fair view of the state of the charltable company's affairs as at 31 December 2024 and of its
Incomlng resources and appllcation of resources for the year then ended,.
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting
Practlce: and
have been prepared In accordance with the requirements of the Companies Act 2006.
Basss for opinlon
We conducted our audit in accordance with International Standards on Auditing {UKI IISAS (UK)) and applicable
law. Our responsibllities under those standards are further described in the Auditor's responsibilities for the auclit
Df the financial statements sectlon of our report. We are independent of the charitable company in accordance
with the ethical requlrements that are relevant to our audlt of the financial statements in the UK, Including the
FRC's Ethical Standard. and we have fulfilled our other ethical responsibilities in accordance with ihese
requirements. We believe that the audSt evidence we have obtained Is sufficient and approprlate to provlde a basls
for our oplnlon.
Conclusions relatlng to golng concern
In auditing the financial statements, we have concluded that the trustee5' Use of the golng concern basls of
accounting in the preparatlon of the financlal statements Is approprlate.
8a5ed on the work we have performed, we have not identified any material uncertalnties relating to events or
conditlons that, Indlvldually or collectively, may cast slgnificant doubt on the Charitys ability to continue as a going
concern for a period of at least 12 months from when the financial statements are authorised for issue,
Our responsibilities and the responsibilities of the trustees with respect to going concern are descrlbed in the
relevant sections of this report.
Other Informatlon
The other information comprlses the Information include(S in the annual report, Includlng the trustees, report,
other than the financial statements and our auditorfs report thereon. The trustees are responsible for the other
information contained wSthin the annual report. Ouropinion on the financial Statements does not cover the other
Information and. except to the extent otherwlse explicitly stated in our report, we do not express any form of
assurance conclusion thereon.
Our responslbility is to read the other inforrnatlon and. in doing so. conslder whether the other information is
materially incon51Stent wlth the flnanclal statement5 or our kno￿edge obtained in the course of the audit, or
otherwise appear5 to be materlally misstated. If we identify such material inconsistencies or apparent material
misstatements, we are required to determine whether this gives rise to a material misstatement in the financial
statements themselves. If. based on the work we have performed, we conclude that there is a material
misstatement of this other information. we are required to report that fact.

NT
We have nothlng to report in this regard.
Opinions on other matters prescribed by the Companles Act 2006
In our opinion, based on the work undertaken in the course of our audit:
the informatlon given in the trustees. report which include5 the dlreciors, report prepared for the
purposes of company law, for the financial year for whlch the financial siatements are prepared is
consistent with the financlal statements: and
the dlrectors, report Included within the trustees. report has been prepared in accordance with applicable
legal requirements.
Matters on which we are requlred to report by exceptlon
In the light of the knowledge and understanding of the charity and its envlronment obtained In the course of the
audit, we have not Identlfled material mlsstatements in the directors. report included with the trustees, report.
We have nothing to report in respect of thefollowing matters In relation towhlch the Companles Art2006 requires
us to report to you if. in our opinion:
adequate and proper accounting records have not been kept, or returns adequate for our audit have not
been received from branches not visited by us,. or
the financlal Statements are not In agreement with the accounting records and returns; or
certain disc105ures of trustees, remuneration specified by law are not made., or
we have not received all the information and explanations we require for our audit; or
the trustees were not entitled to prepare the financial statements in accordance with the small companles
regime and take advantage of the small companles exemptlons In preparlng the trustees, report and from
the requirement to prepare a strateglc report.
Responslbilltles of trustees
As explained more fully in the trustees, responslbllltles statement, the trustees, Iwho are also the dlrectors of the
charitable company for the purposes of company law) are responsible for the preparation of the financial
statements and for belng satisfied that theygive a true and fair view, and for such internal control as the trustees
determlne Is necessary to enable the preparatlon of financial statements that are free from material
misstatement, whether due to fraud or error.
In preparlng the financial statements, the trustees are responsible for assessing the charitys abllity to continue as
a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of
accountlng unless the trustees either intend to liquidate the company or to cease operations, or have no realistic
alternative but to do so.
Audltor's responslbllltles for the audlt of the flnanclal statements
Our objectlves are to obtain reasonable assurance about whether the financlal statements as a whole are free
from material mis5tatemenL whether due to fraud or error, and to issue an auditor's report that includes our
oplnion. Reasonable assurance is a high level of assurance. but 15 not a guarantee that an audit conducted in
accordance with1SAs IUK)will always detect a material misstatement when it exists. Mlsstatements can arise from
fraud or error and are con51dered material if. individually or in the aggregate, they could reasonably be expected
to influence the economic decisions of users taken on the basis of these financial statements.

INDEPENDENT AUDITOR'S REPORT TO T
E MEMBERS OF WESTMINSTER CHAPEL
continued
The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below-.
Based on our understanding of the company. we identified that the principal risks of non-compliance with laws
and regulatlons related to employment and financial reporting leglslatlon and we consldered the extent to which
non-compliance might have a materlal effeci on the tlnancial statements. We also considered those laws and
regulations that have a dlrect Impact on the preparation of the financial statements such as the Companies Act
2006 and the Charities Act 2011.
We assessed the susceptibility of the company's financlal statements to material misstatement, including
obtaining an understanding of how fraud might occur, by making enquiries of management, considering the
Internal controls In place and dlscussion amongst the engagement team.
We determined that the prlncipal rlsks were related to management bias in accountlng estimates, presentation of
separately disclosed item5 and management override of controls.
In response to the risk5 Identified we designed procedures whlch Included, but were not limited 10 challenging
significant accountlng estlmares. agreelng financSal statement disclosures to underlying supporting
documentatlon, revlewlng irustees minutes, evaluating the internal controls and Identifying and testing journal
eniries.
There are inherent limitations in the audit procedures described above. The more removed that law5 and
regulations are from financlal transactlons, the less likely It Is that we would become aware of non-compllance.
Material misstatements that arlse due to fraud can be harder to detect than those that arise from error as they
may involve deliberate concealment or collusion.
A further description of our responsibilities for the audit of the financlal statements Is located on the Financial
Reporting Council's website at: httP.'I￿W.frc.orS.uk/au(1ltOrSre5pQnSlbllitfjeS. Thi5 descriptlon forms part of our
audltorfs report.
Use of our report
This report Is made solely to the charitable company'5 members, as a body, in accordance wlth Chapter 3 of Part
16 of the Companles Act 2006 and regulatlons made under that Art, Our audlt work has been undertaken so that
we might state to the charitable company's members those matters we are requlred to state to them in an
auditors, report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume
responsibility to anyone other than the charitable company and It5 members as a body, for our audit work, for
this report, or for the opinions we have formed.
Mlrlam Hlck50n FCA (Senlor Statutory Auditor)
for and on behalf of Xeinadin Audlt Llmited
Statutory Auditor
Chartered Accountants
S Robln Hood Lane
Sutton
Surrey
SMI 2SW
l8loq1￿2s
io

Westminster Chapel
Statement of Financial Activities (including the Income and Expenditure Account} For the year
ended 31 December 2024
Year ended 31 Dec 2024
Restricted Unrestricted
Total
Funds
Funds
Year ended 31 Dec 2023
Restritted Unrestricted
Total
Funds
Funds
Note
Incomefrom..
Donations. grants,
legacies
Charitable activitles
186.806
558,718
745,524
106,287
552,700
658,987
54.398
54,398
45,521
45,521
Other tradin8
activities
Investment & other
income
Total income
296.911
296,911
291.983
291.983
24,668
24.668
36.554
36,554
186,806
934,695
1.121.S01
106.287
926.758
1.033,045
Expenditure on..
Charitable activities
Total expenditure
156.862
947.245
1,104,107
167,136
870,005
1,037,141
156,862
947,245
1.104,107
167,136
870.005
1.037,141
Net lexpenditurel
Ilncome
29,944
112,5501
17,394
160,8491
56.753
{4,0961
Transfer be￿een
Funds
17
688
1688)
10,866
110,866)
Other recognlsed
gain5 and10s5e5
Lossesygalns on
revaluation of fixed
assets
Net movement In
funds
30.632
113.2381
17,394
{49.9831
45,887
14.096)
Reconciliatlon of
funds
Total fund broLt£ht
forward
147,995
3,864,474
4,012.469
197,978
3.818,587
4,016.565
Total funds carried
forward
178.627
3,851.236
4,029,863
147,995
3,864.474
4.012.469
The notes numbered 1 to 17 form part of these financial statements.
li

Westminster Chapel
Balance sheet as at 31 December 2024
31.12.2024
31.12.2023
Note
Flxed a55etS
Tangible a55et5
Properties
Equipment and furnlture
Property improvements
Investrnents
10
1,850,000
466,888
1.102.533
1.850.000
467,410
1,152,838
12
13
3,419.421
3.470.250
Current assets
Stocks
Debtors and
prepayments
Cash at bank and In hand
26.582
25,460
14
113,372
100,901
660,850
800.804
588,921
715.282
Current liablllties
Creditors.. amounts falling
due withln one year
190,362
173,063
Net current ossets
Nel assets
610,442
4,029,863
542,219
4.012.469
16
Funds
Restricted funds
Unrestricted fund5
Revaluation reseryes
Deslgnated funds
General funds
17
178.627
147,995
17
17
447.060
170,270
77
3,404,176
4.029,863
3,694,204
4,012,469
Total funds
The notes numbered 1 to 17 form part of these financial statements.
These financial statements have been prepared in accordance with the speclal provisions of Part 15 of the
Companies Act relating to small companies.
These financial statements were approved by the trustees on 15th September 2025 and signed on thelr behalf
by..
James Edwards. Trustee
ard Bursby, Trustee
Company number: 06458950
12

Westminster Chapel
Statement of cash flows for the yèar ended 31 December 2024
Year ended
31 Dec 2024
Year ended
31 Dec 2023
Note
Cash provided by operatlng acrlvitles
108,007
93.681
Coshllowsfrom investing urtwities
Other income
Purchase of tangible fixed assets
Proceeds from sale of investments
Cosh fused An)/from Investing artivities
24,668
{60.746)
36,554
141,4941
136.0781
14,9401
Increase In cash and cash equlvalents during the year
71 .929
88,741
Cash and cash equivalents brought forward
Cash and cash equlvalents carried forward
588.921
660,850
500.180
588.921
(11 Reconciliation of net movement In funds to cash used in operating activities
Year ended
31 Dec 2024
Year Ènded
31 Dec 2023
Net movernent In funds
17.394
14,0961
Add back depreciation and impalrment
Deduct Invesiment & other incorne shown above
IDeduct 8ainslladd back losses on investments
IlncreaseVDecrease in stock
IlncreaseYDecrease In debEors
IDecreaselllncrease in creditors
Net cash provided by operating actlvitie5
111,573
124.6681
107,470
(36,5541
{1,122)
{12,4711
17.299
108,007
11,526)
33,685
15,2981
93,681
13

Westminster Chapel
Notes to the Financial Statements
Westminster Chapel Ithe"Chapel"l is registered with the Charlty Commission as a Charity Ino. 11448311 and is a150
a company limited by guarantee (no. 06458950). In the event of the company being wound up, rhe Ilability in
respett of the guarantee is limited to £1 per member of the company. The reglstered Office is Buckingham Gate.
London, SW1 E 6BS.
1. Accounting pollcles
The prlncipal accounting policies adopted, judgements and key sources of estimation uncertainty In the
preparation of the financial statements are as follows..
A) Accounting Convention
The accounts have been prepared In accordance wlth the Articles of Association of Westmlnster Chapel, the
Companles Act 2006, the Charltles Att 201 l and "Accounting and Reporting by Charities: Statement of
Recommended Practice applicable to charities preparing their accounts in accorclance with the Flnancial
Reporting Standard applicable In the UK and Republic of Ireland IFRS 102)" issued in October 2019. The trust
is a Public 8enefit Entity as defined by FRS 102.
The accounts have been prepared fortheyear ended 31 r)ecember 2024. They have been prepared in pounds
sterllng and rounded to the nearest £1.
The accounts have been prepared under the historical cost convention, modified to include investment
properties and certain financial instruments at falr value. The principal accounting pollcies adopted are set
out below.
B) Going Concern
The Church incurred a surplus of £36,277, excludlng transfers between funds, on Its general unrestricted fund
for 2024.
A cash flow forecast is prepared and updated monthly on a rollins basls for the next 12 months which Is
presented to the Trustees and is used as the primary budgeting tool for ensuring that unrestrirted funds are
expetted to be malntained at around three months annual forecast expenditure for the next 12 months in
order to cover any very large unexpected and emergency expenses which mSght arlse. However, the usual
pattern of spending results In a working capltal requirement of around zero, thus ensurlng that the mlnlmum
reserves level 15 fully avallable to be spent should such an emergency expense be incurred. In addition. a
minlmum of two trustees must approve all antlcipated expenditures in excess of £1,000. The Trustees also
meet several tlmes each year to review the most up to date management accounts tO8ether with the latest
forecast.
Accordingly. the Trustees consider the going concern basls for the preparation of the charitys financlal
statements to be reasonable.
C} Income
Donations and other (Includlng legacles) are Included In the Statement of Financial Attivities ISOFAI when the
charity ha5 entltlement to the income. it is probable the Income will be received, and the amount of income
receivable can be reliably measured. The following specific policies are applied to particular categories of
Income:
Investment income, Including bank interest receivable is recognised when receivable.
Rental income from the Chapel's manses and room hlre is recognized when receivable.
Donated goods to the Foodbank are recognized when they are received and valued at £2.77 per
kg.
The right to use premises 15 recognised at fair value, where this can be reliably estlmated.
The value of Services donated byvolunteers has not been included in these accounts.
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Westminster Chapel
D) Expenditure recognition
All expenditure is accrued as soon as a liabllity is consldered probable, dlscounted to present value for longer
term liabilities and has been classified under headlngs that aggregate all costs related to the category.
Support and governance costs
Support Costs comprise all expenditure incurred in supporting the work related to the objects of the charity.
Governance costs include those costs associated with meeting the constitutional and statutory requirements
of the Chapel and include auditfees and other professional costs. All support and governance costs have been
allocated directly to charitable expendlture.
Charitable actlvity Costs
Charitable activity costs include those incurred by the Chapel in the delivery of it5 actlvities and 5eNices for it5
beneficlaries. It includes both the costs whlch can be allocated dlrectly to such attlvitles and those cosis of an
indirect nature necessary to SUPPOrt them.
E) Tangible Fixed Assets
All assets costing more than £1.000 have been capitalized. Fixed assets are stated at cost less accumulated
depreciation. Where the charity enjoy5 the right to use premises, without acquiring legal ownership, the fair
value of the asset is recognised as income and a fixed asset. Fair value Is estimated from the financial benefits
expected to flow to the charity as It wlll avoid the cost It would otherwise have incurred In obtalnlng prem15es.
Depreciation
Depreciatlon is charged on furnlture and equipment and the premises improvements at rates of 20% and 5%
respectlvely and at 496 of cost per annum commencing from the date of the purchaselcost being incurred.
No depreciation is charged on leasehold property where the estimate resldual valuels considered to be the
same or hlgher than the carrylng value In the accounts. Impalrments are recognlsed when the carrying value
of an asset exceeds its recoverable amount.
F) Pensions
Contributions to the Charltys deflned contrlbution pension scheme are charged to the SOFA in the year in
which they become payable.
G) Investments
Flxed asset Investment5 are included at closln8 market value at the balance sheet date. Any gain or loss on
revaluation is taken to the SOFA and shown in the Revaluation reserve within the Chapel's funds.
H) Funds
Funds held by Chapel are:
Unrestricted general funds.. these are funds whlch can be used In accordance with the charitable objects of
the Chapel at the dlscretion of the trustees.
Designated funds., these are funcls set aside by the trustees for specific purposes or projects.
Restricted funds: these are funds which can only be used for specific purposes within the charitable objects
of the Chapel. Restrictions arise when specified by the donor or when funds are raised for specific purposes.
The nature and purpose of each fund is further explained in note 16 to the financial statements.
l) Grants Payable
Grants are included when they have been approved by the trustees and the expenditure is committed.
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Westminster Chapel
J) Stock
The stock of items held by the Foodbank Is included at an esiimate of £2.77 per kg. Stocks of items for the
Cafe and replacement parts for the boilers are held at cost.
K) Debtors
Grants receivable and other debtors are included at the settlement amount due. Prepayment5 are valued at
the amount prepaid.
L) Cash at bank and In hand
Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of three
months or less from the date of opening of the deposit.
M) Creditors and provisions
Credltors and provisions are recognised where the charlty has a present obligation arising from a past event
that wlll probably result In the transfer of funds to a third paty and the amount due to settle the obligation
can be measured or estimated reliably. Creditors and provisions are recognised at their settlement amount.
N) Financial instruments
The charity only has financial assets and Ilabllltles of a klnd that quallfy as baslc financlal Instruments. Ba51c
financial Instruments are Inltlally recognised at transaction value and subsequently measured at their
settlement value.
O) Realised gains and losses
All gains and10sses are taken to the Statement of Financlal Actlvitles as they arise. Reali5ed gains and105ses
on investments are calculated as the dlfference between sales proceeds and their opening carrying value or
their purchase value if acquired subsequent to the first day of the flnanclal year. Unreallsed gains and losses
are calculated as the difference between the falr value at the year end and thelr carrying value. Reali5ed and
unrealised Investment galns and losses are comblned in rhe Statement of Financlal Activities.
P) Income from government grants
income receivable from government grants for expenditure and capital asset purchases and premises
renewal and Improvement work5 is fully recognised in the perSod to which the underlying costs relate or the
capital asset purchases and premises renewal and Improvemeni works are Incurred with any related
deslgnated grant fund relating to capltal asset purchases and premi5e5 renewal and Improvement works
being amortised over a matchlng tlme perlod to the depreclarion pollcy applied for those asset5.
2. Critical accounting estlmates and Judgements
In the application of the charity'slcompany's accountlng pollcies, the trustees are required to make
Judgements, estimates and assumptions about the carrying amount of assets and Ilabllitles that are not readlly
apparent from other sources. The estimates and associated assumptions are based on historical experience
and other fattors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptlons are reviewed on an ongoing basis. Revisions to accounting
estimates are recognised in the period in which the estimate is revised where the revlslon affects only that
period of the revision and future periods where the revision affects both current and future periods.
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Westminster Chapel
3. Donations, grants. legacles and other charitable income
Restritted
Unrestrirted
Total
Restricted Unrestrirted
Funds
Funds
2024
Funds
Funds
Total
2023
Freewill
offerings
108.069
470,179
578,248
96,645
463,107
559,752
Government
grant
schemes
Income tax
recoverable
74.248
74.248
5.234
5,234
4.489
88,539
93.028
4.408
89,593
94.OQ1
186,806
558,718
745,524
106,287
552.700
658,987
4. Investment & other Income
Restrlcted Unrestrltted
Funds
Funds
Total
2024
Restricted Unrestrirted
Funds
Funds
Total
2023
Interest receivable
Refunds, reimbursed &
miKellaneous expenses
12,912
12,912
8.853
8.853
11.756
11.756
27,701
27.701
24,668
24,668
36,554
36,554
5. Other tradlng activltles
Restricted Unrestrlcted
Funds
Funds
Total
2024
Restricted Unrestricted
Funds
Funds
Total
2023
Income from tower rental
Venue hlre
Ancillary & office Space Income
61,744
177,936
57,231
296,911
61.744
177.936
57,231
296,911
46,334
237,839
7,800
291,983
46.334
237.839
7.800
291,983
6. Expendlture
Restrlcted Unrestricted
Funds
Funds
Direct cost
Direct costs
support
Cost
Total
2024
Total
2023
Charitable activities
Glfts made
Other charitable artivities
Total charitable activities
2.213
154,649
156.862
44,591
334,490
379,081
46.804
1,057.303
1,104.107
51,102
986,039
1,037.141
568,164
568,164
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Westminster Chapel
Gifts made were as follows:
Gifts to
Institutlons
Gifts to
Indlviduals
Total
2024
Total
2023
Benevolent needs
Latln Link
Commlsslon Apostollc Trust
FIEC
Agape
Power The Fight
The Gate Pregnancy Crisls Centre
Open Doors
LSE Christian Union
Catalyst Network of Churches
London Clty Mlsslon
others
Total gifts
2,213
2.213
6,SiXI
20.004
7,737
2.950
1,200
6.000
2,570
6,000
20.004
7,553
2,400
1,2(X)
6.01))
6,500
20,004
7,737
2,950
1,200
6,000
1,000
1.095
2,864
416
51.102
200
200
44,591
2,213
46,804
7. Support Costs
2024
2023
Staff COS15
Premises costs
Professlonal & consulting c05t5
Depreciation
Governarsce costs..
Auditor5 remuneration
other costs
150,063
187,769
26,796
111,573
136,381
125,404
12,753
107,470
8,820
83,143
568,164
10,020
78,897
470,925
8. Staff costs
2024
2023
Wages and salaries
5ocièl security costs
Pension costs
Severance payments
Other employment costs
342,140
20.024
18,027
356,335
26,346
18,982
26,198
6,689
434,550
2.879
383,070
The average number of full time and part time staff employed by the Chapel during the year was 1912023:
There were no employees who received employee benefits of more than £60,000. (2023: none).
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Westminster Chapel
9. 2024 Related party transactions
Remuneration was paid to trustees and their close family as follows-
Salory& soclal
security costs
Penslon
coniribution
8Enefits in kind
Total remuneration
63,976
63.976
4.888
4,888
One trustee was remunerated for their employment as 15 the spouse of a trustee. James Edwards, the Senlor
Finance Officer received salary and the employers penslon contribullons for the flnancial year toialling
£50.624 The spouse and adult son of one of the other trustees were both employed part time as the Childrens
work Leader and on a casual basls as one of the Premlses Assistants. She was reimbursed expenses that she
Incurred for her work tot311ing £70. The total salary and social security costs for employing the son was £6,709
for 489 hours of work. The spouse's total salary and pension contrlbutions totalled £15.365. These payments
are allowed under the terms of the companls Memorandum and Articles of Association. The total employee
benefits received by key management personnel named above were £50,624. In addition. Westminster Chapel
paid Management Liability Insurance for all of the Trustees which cost £684.
2023 Comparatlve Related party transactions
Remuneration was paid to trustees and thelr close family as follows:
Solory & soclol
security costs
Pension
contrlbution
8enefits in kind
Total remuneration
82,797
82,797
3,433
3,433
Two trustees are remunerated for their employment as was the spouse of a trustee appolnted in November
2022.James Edwards, the Senior Flnance Officer received salary and the employerfs pension contributions for
the financial year totalling £44.882. The second paid trustee was Howard Satterthwaite, the Pastoral Lead of
the Chapel whose total salary and pension contrlbutions for the period from 1 January 2023 up to his
resignation as a trustee on 31 March 2023 totalled £12,988. The spouse and adult son of one of the other
trustees were employed part tlme as the Childrens work Leader and on a casual basis as one of the Premise5
Assistants, She was reimbursed expense5 that she incurred for her work totalling £189. The total salary and
social security cos(s for employing the son was £3,453 for 255 hours of work. The spouse's total salary and
pension contributions totalled £14.230. These payments are allowed under the terms of the companys
Memorandum and Articles of Assoclatlon. Addltlonally. because of the nature of the work. the pastoral Lead
was also provlded with Manse accommodation for he and his famIl￿S use for the period from 1 January 2023
up to 30 September 2023. Thls accommodatlon is made available to beused forappropriate church gatherings
and the hosting of guest visitors invited to special church events when these occur. The total employee
benefits received by key management personnel named above were £72,100. In addition. Westminster Chapel
paid Management Liabillty Insurance for all of the Trustees which cost £406.
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Westminster Chapel
10. Propertles
Properties - leasehold
31.12.2024
31.12.2023
Residentlal propertyvalue brought
forward
Value carried forward
1,850.000
1.850.000
1,850,000
1,850,000
The charity is not the legal owner of the Residential and Chapel properties but enjoys the use of them as
explained in the Trustees Report. The right to use them is therefore recognised as a leasehold fixed asset.
with a corresponding amount of income at the date the right to use began.
The fair value of the assets is estimated from the financial benefits expected to flow to the charlty as It will
avoid the cost it would otherwise have incurred in obtaining premise5.
For the residential property thls was esrimated uslng open market value. as advised by surveyors when the
use began. adjusted for subsequent Impairment.
The Chapel property Is a speclallsed propety, subject to specific hlstorical trusts on how it may be used. The
trustees cannot rellably estimate the fair value of the use of this premises and therefore no initial asset value
and corresponding donation has been recognised. Improvements to the Chapel propety are capitalised in
note 12.
11. Equlpment and Furnlture
31.12.2024
31.12.2023
Cost
Brought forward
Additions in the year
Disposals
Carried forward
752,490
60,746
735,593
42,422
125,5251
752,490
813,236
Accumulated Depreciation
285,080
252,512
Brought forward
61,268
57,179
Charge for the year
Released on disposal
Carried forward
124.6111
285.080
346,348
Net book value
Carried fDtward
466.888
467.410
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Westminster Chapel
12. Premises Improvements
31.12.2024
31.12.2023
Cost
Brought fO￿ard
Additions in year
Carrled forward
1,257.642
1,2S7.642
1,257,642
1.257,642
Accumulated Depreclation
Brought forward
Charge for the year
Carried forward
104,804
50,305
155,109
54,498
50,306
104,804
Net book value
Carried forward
1,102,S33
1,152,838
13. Flxed Asset Investments
31.12.2024
31.12.2023
Brought forward
Dlsposal in year
Carried foNard
12)
Investment In subsldiary
The subsidiary company, 8ookroom@westmlnsterchapel Limited, was dissolved on 22 October 2024,
14. Debtors
31.12.2024
31.12.2023
Arnount5 falling due within one year
Accounts receivable
Other debtors
Prepayments
50,421
25,343
37,608
113,372
17,187
19,456
64,258
100,901
15. Creditor5
31.12.2024
31.12.2023
Amounts falling due within one year
Accounts payable
Other credltors
Taxation and 50clal securlty
Accruals
397
133,097
6,516
50,352
190,362
19.363
112.744
6,032
35.524
173.063
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Westminster Chapel
16. Analysis of Net A55ets between Funds
General
Desi8nated
funds
Restricted
Total
funds
funds
2024
Tangible fixecF assets
Current assets
Creditors: Amounts falllng
due within one year
3.414,463
174,162
{184.449)
4,958
179,582
(5.9131
3.419,421
800,804
(190,3621
447.060
3,404,176
447.060
178,627
4.029,863
2023 Comparatlve Analysls of Net Assets between Funds
General
Deslgnated
fund5
Restrlrted
Funds
Total
Funds
2023
Tangible flxed assets
Investments
Current aSset5
Creditors.. Amounts falling due wlthin
one year
3,299,228
170.270
750
3,470.248
567,268
148,014
715,282
1172,2941
3,694.204
17691
147,995
1173,0631
4.012,469
170.270
17. Movement In Funds
Balance at
31.12.2023
Income
and galns
Expenditure
Transfers
Balance at
31.12.2024
Designated funds
Grants fund
Fabric Fund
Mlnlmum Reserves Fund
170,270
(8,163}
136,217
197.563
162,107
87,390
197,563
148.827)
General fund
3,694,204
934,695
1898,418)
1326,3051
3,404.176
Revaluation of fixed asset5
3.864.474
934,695
1947,2451
16881
3,851,236
Benevolent furKI
Food bank
Campbell Morgan Library
refurbishment Fund
Walthamstow
1.525
172,481
12,500
12.213)
1146.537)
18.112)
688
107,701
133,645
4,388
40,294
147,995
4.012,469
300
186,806
1.121.501
40,594
178.627
4,029,863
11 $6,862
11,104,107)
688
Total funds
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Westminster Chapel
17. Movement In Funds (contlnued)
2023 Comparative of Movement in Funds
Balance at
31.12.2022
Income
and gains
Expenditure
Tran51eis
Balance at
31.12.2023
Designated funds
Grants fund
178,433
18,1631
170,270
General fund
Revaluation of fixed assets
3,665,154
125,0001
3.818,587
926,758
1870.0051
27,703
25.000
110,8661
3.694,204
926,758
1870,0051
3,864,474
Benevolent fund
Foocl bank
Special Appeals & Or8an Repair
Fund
Walthamstow
Cornmunity Outreach and Warm
Space
1,300
85.332
12,796
12,5701
118.8991
120.489)
1,27D
141.268
107,701
7,693
38.669
18,041
1,62S
5,234
40,294
{25.178)
1,9)3
197,978
106,287
1167,1361
10,866
147,995
Total fund5
4,016,565
1,033.045
11.037.141)
4,012,469
The Benevolent Fund is restricted for the use of members and friends of the Chapel In financial need.
The Grants fund represents the remaining unamortised grant Income received on capltal expenditure whlch
will be amortised at a rate matchlng the depreclatlon applled on the capltallsed expendlture at the rate
specified in note l E.
The Fabrlc Fund Is a new fund deslgnated for use in enabling the Chapel ensure that it has sufflcient funds for
all repair5, refurbishments. equipment replacement and maintenance costs which by their nature are not
expected to re-occur with annual regularity. The Fabric Fund receives transfers annually from the General
Fund set with reference to the full rebuilding cost for insurance purposes. It is not funded with reference to
expected items of expendlture, since the tlming of this is extremely uncertain and tends to be based upon
unforeseeable specific and sudden deterioration in the Fabric, requiring prompt remedial action.
The Minimum ReseNes Fund is a fund whlch has its level set at three months of all expenditure which is
expected to re-occur at least once per year.
The Foodbank fund Supports the operation of the Food Bank.
There was one glft made towards the complete refurbishment of the Carnpbell Morgan Library.
The Walthamstow fund Is being accumulated until the new church plant In Walthamstow finds premises to
operate from and requests that these funds are released.
The transfers from unrestrlcted funds were made to meet expenditure which exceeded restricted income,
where the trustees are not confident that future receipts will cover these deficits.
23