Twynholm Baptist Church
324-326 Lillie Road Fulham London SW6 7PP
Reports and Accounts year ended 5 April 2021 Registered charity number: 1146843
Stuart Moffatt Chartered Accountant ie@seftonhall.org.uk
Twynholm Baptist Church Reports and financial statements
Year ended 5 April 2021
| CONTENTS | PAGE |
|---|---|
| Legal and administrative details | 1 |
| Report of the Trustees | 2 |
| Independent examiner’s report | 4 |
| Receipts and payments account | 5 |
| Statement of assets and liabilities | 6 |
| Notes to the accounts | 7 |
1 Year ended 5 April 2021
Twynholm Baptist Church Reports and financial statements
Legal and administrative details
Address for correspondence
324-326 Lillie Road Fulham London SW6 7PP
Governing document
Constitution dated 28 March 2012 as amended September 2013 and February 2016
Charity registration number
1146843 Trustees M Gilbart-Smith S Newman P Mills J Shepherd A Mpasi (appointed 15 July 2020) Custodian trustees London Baptist Property Board Bankers National Westminster Bank plc CAF Bank Ltd Independent examiner Stuart Moffatt 53 Crestway London SW15 5DB DRAFT
2 Year ended 5 April 2021
Twynholm Baptist Church Reports and financial statements
Report of the Trustees
The Trustees have pleasure in submitting the Report and Accounts for the year ended 5th April 2021.
Objects of the charity
The Trust seeks to demonstrate the Christian faith in action by preaching the gospel and teaching the Bible in the area surrounding Twynholm Baptist Church.
Government
The policy and operating decisions of the charity rest with the Trustees who meet regularly to monitor the activities of the Trust.
New trustees are appointed by the existing Trustees, having been appointed as elders by the members of Twynholm.
Review of Activities
Throughout the 2020-21 financial year, the church premises and resources were used predominantly for the proclamation of the gospel of Jesus Christ. This occurred primarily through two services on Sundays and other events regularly held at Twynholm or remotely. Restrictions on in-person gatherings during some of the year meant that regular activities were curtailed but Sunday morning in-person services resumed as soon as were permitted. Some in-person youth activities also resumed towards the end of the year. Homegroups continued throughout the year, meeting remotely or outdoors when possible.
Within the church building are five flats of varying sizes. These are rented mainly to members of the church with priority given to those in a training role or capacity (i.e. those in theological college or employed by the church). Preference is also given to tenants from outside the congregation's members who are working for mission organisations, and would be greatly blessed and encouraged with more affordable accommodation in London. After meeting running and maintenance costs, all income generated by the renting of the flats was expressly used for the same purpose as the offerings given by the church membership - for the proclamation of the gospel of Jesus Christ.
church with priority given to those in a training role or capacity (i.e. those in theological college or employed by the church). Preference is also given to tenants from outside the congregation's members who are working for mission organisations, and would be greatly blessed and encouraged with more affordable accommodation in London. After meeting running and maintenance costs, all income generated by the renting of the flats was expressly used for the same purpose as the offerings given by the church membership - for the proclamation of the gospel of Jesus Christ. D RAFT
espite on-going repairs, the building will soon need more substantial work to the roof, brickwork and other areas in the coming years. Having previously appointed architects to draw up plans to explore options but concluded that none were currently viable, the trustees commenced activities in preparation for a possible redevelopment project. These included ensuring the correct registration of title on 116 Bayonne Road (“Fairhavens”) at the rear of the church building (completed in February 2020) and exploring the changes required to the church’s constitution to enable a conversion to Charitable Incorporated Organisation (CIO) status (ongoing). Negotiations to lease the basement of the church to a nursery during the week are continuing.
Armel Mpasi was appointed as an elder and trustee on 15th July 2020.
During the year there has been a demonstration of the Christian faith in action by serving the community in which it operates in the ways as noted above.
In planning the activities the Trustees have applied the guidance on public benefit issued by the Charity Commission.
3 Year ended 5 April 2021
Twynholm Baptist Church Reports and financial statements
Financial Review
For the financial year 2020/21, the church received £231,005 (2019/20: £209,527) and paid out £189,262 (2019/20: £187,196). As a result, cash on hand at the year-end increased by £41,743 to £130,373. The trustees consider this is a strong basis upon which to pursue the church's objectives.
At the end of March 2020, the Government imposed restrictions on in-person church gatherings as well as wider society as part of its strategy to reduce the spread of SARS-CoV-2. As a result, church services and other meetings moved on-line for several months and the income of the church was reduced through a decline in giving, room rental and other discretionary sources of support. The trustees undertook regular forward-looking projections of cashflow and reserves (with contingencies) to ensure that the church remained a going concern. A revised budget was adopted in July 2020 which envisaged both lower receipts and spending and a decline of around £10,000 in cash reserves. However, through a combination of increasing giving towards the end of the financial year, reduced expenditure and the proceeds from a significant bequest, cash reserves have increased by £41,743 for the 2020/21 financial year as a whole.
Reserves Policy
The Trustees have established a policy whereby the unrestricted cash held by the charity should be maintained at approximately £40,000, which represents about 2.5 months of unrestricted on-going expenditure. This level of reserves would help ensure that the church could continue to operate should income and/or expenditure vary unexpectedly. At the year end the church's unrestricted cash was above this at £103,178. This includes the result of accepting an interest-free loan of £25,000 from a member in 2018 to help smooth out the costs of fire prevention and asbestos removal. This loan was received in August 2018 and £8,000 was repaid during 2020/21, leaving £12,667 outstanding. The Trustees anticipate that reserves will fall by £22,000 to around £102,000 by 5 April 2022, offset by a £12,667 reduction in loans owed and a £3,000 loan asset.
- Safeguarding policy Since 2016, the trustees have had in place a safeguarding policy for children. This was reviewed and updated in 2020 to encompass the safeguarding of vulnerable adults also. Trustees' Responsibilities DRAFT
Since 2016, the trustees have had in place a safeguarding policy for children. This was reviewed and updated in 2020 to encompass the safeguarding of vulnerable adults also.
Charity law requires us as Trustees to prepare financial statements for each accounting year which record the receipts and payments of the charity for the year.
We are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and enable us to ensure that the financial statements comply with the Charities Act 2011.
We also have a responsibility to safeguard the assets of the charity and to take reasonable steps to prevent fraud or any other irregularities.
Approval
This report was approved by the trustees on 17 November 2021 and signed on their behalf by:
P S Mills
17 November 2021
Paul Mills
4
Twynholm Baptist Church Reports and financial statements
Year ended 5 April 2021
Independent examiner’s report
to the trustees of Twynholm Baptist Church
I report to the trustees on my examination of the accounts of Twynholm Baptist Church ('the charity') for the year ended 5 April 2021 on pages 6 to 10 following.
Responsibilities and basis of report
As the trustees of the charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (`the 2011 Act').
I report in respect of my examination of the charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner's statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
- 1 accounting records were not kept in accordance with section 130 of the 2011 Act; or 2 the accounts do not accord with the accounting records.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in order to enable a proper understanding of the accounts to be reached. Stuart Moffatt FCA 17 November 2021 DRAFT
5 Year ended 5 April 2021
Twynholm Baptist Church Reports and financial statements
Receipts and payments account
| Unrestricted funds | Unrestricted funds | Restricted | ||||
|---|---|---|---|---|---|---|
| Notes | General | Designated | funds | |||
| funds | funds | 2021 | 2020 | |||
| Income receipts | ||||||
| Donations, legacies and grants | 104,040 | 9,944 | 113,984 | 98,094 | ||
| Gift aid receipts | 13,808 | 13,808 | 13,327 | |||
| Church events | 120 | 120 | 4,293 | |||
| Rental income | 98,423 | 3,100 | 101,523 | 93,513 | ||
| Other | 690 | 880 | 1,570 | 300 | ||
| 217,081 | 0 | 13,924 | 231,005 | 209,527 | ||
| Capital and similar receipts | ||||||
| Loan received | 0 | 0 | 0 | 0 | 0 | |
| 0 | 0 | 0 | 0 | 0 | ||
| Total receipts | 217,081 | 0 | 13,924 | 231,005 | 209,527 | |
| Payments | ||||||
| Payments in relation to charitable | ||||||
| activities undertaken directly | 2 | 130,239 | 0 | 27,978 | 158,217 | 157,868 |
| Grants paid in relation to | ||||||
| D~~RAFT~~ charitable activities undertaken by others 4 23,045 0 0 23,045 24,996 153,284 0 27,978 181,262 182,863 Loans repaid 8,000 0 0 8,000 4,333 8,000 0 0 8,000 4,333 |
||||||
| Total payments | 161,284 | 0 | 27,978 | 189,262 | 187,196 | |
| Net of receipts/ (Payments) before | ||||||
| transfers | 55,797 | 0 | (14,054) | 41,743 | 22,331 | |
| Transfers between funds | 0 | 0 | 0 | 0 | ||
| Net movement in funds | 55,797 | 0 | (14,054) | 41,743 | 22,331 | |
| Cash funds as at last year end | 47,381 | 41,249 | 88,630 | 66,299 | ||
| Cash funds at this year end | 103,178 | 0 | 27,195 | 130,373 | 88,630 |
The notes on pages 7-9 form part of these accounts.
6 Year ended 5 April 2021
Twynholm Baptist Church Reports and financial statements
Statement of assets and liabilities
| Unrestricted funds | Unrestricted funds | Restricted | |||
|---|---|---|---|---|---|
| General | Designated | funds | |||
| funds | funds | 2021 | 2020 | ||
| Cash funds | |||||
| Cash at bank with immediate | |||||
| access | 103,178 | 27,195 | 130,373 | 88,630 | |
| 103,178 | 0 | 27,195 | 130,373 | 88,630 | |
| Other monetary assets | |||||
| Gift Aid due to charity | 14,639 | 14,639 | 14,026 | ||
| Rent debtors | 1,600 | 1,600 | 1,600 | ||
| Other debtors including deposits | 0 | 4,708 | 4,708 | 0 | |
| 16,239 | 0 | 4,708 | 20,947 | 15,626 | |
| Liabilities | |||||
| Loans | 12,667 | 12,667 | 20,667 | ||
| Independent Examination fees | 100 | 100 | 750 | ||
| Staff expenses | 1,287 | 1,287 | 195 | ||
| Pension contributions | 0 | 0 | 2,653 | ||
| Other creditors | 2,072 | 2,072 | 5,259 | ||
| DRAFT 16,126 0 0 16,126 29,524 The above loan was made by P Mills, a trustee and related party of the charity. It is unsecured, repayable in annual instalments and is repayable in full by 5 April 2022. All other liabilities fall due for settlement within one year. Assets retained for charity's own use Value Manse 417,280 Equipment & contents 343,694 |
|||||
| 760,974 |
The Trustees have used insurance values as the trustees are unable to reliably estimate current values; insurance values may differ materially from current values.
The market value of the manse is estimated to be between £1 million and £1.3 million; this property is occupied by the church's senior leader (see note 4 in the notes to the accounts). In addition, the church occupies rent-free premises legally owned by the London Baptist Property Board. This property includes the church building and five flats with an insurance value of £4,390,400. A room in one of these flats was occupied by the assistant pastor during the 20/21 financial year (see note 4 in the notes to the accounts); the remaining flats are rented principally to other individuals or organisations involved in Christian ministry or mission.
The accounts were approved on 17 November 2021 by the Trustees and signed on their behalf by
P S Mills
Paul Mills
The notes on pages 7-9 form part of these accounts.
7
Twynholm Baptist Church Reports and financial statements
Year ended 5 April 2021
Notes to the accounts
1 Accounting policies
The accounts have been prepared on a receipts and payments basis and comprise a statement that shows the charity's receipts and payments, a statement that summarises the charity's assets and liabilities and related notes. The accountancy profession have determined that only accounts prepared in accordance with applicable accounting standards present a 'true and fair' view and, as these receipts and payments accounts have not (and cannot) be prepared in accordance with accounting standards, these accounts do not present (and are not intended to present) a 'true and fair' view of the charity's financial activities and state of affairs.
General funds are unrestricted funds which are available for use at the discretion of the trustees in furtherance of the general objectives of the charity. Designated funds comprise unrestricted funds that have been set aside by the trustees for particular purposes. Restricted funds are donations which are to be used in accordance with specific restrictions imposed by donors; they include donations received from appeals for specific activities or projects.
| 2 Payments in relation to charitable activities undertaken directly |
2 Payments in relation to charitable activities undertaken directly |
2 Payments in relation to charitable activities undertaken directly |
2 Payments in relation to charitable activities undertaken directly |
||
|---|---|---|---|---|---|
| Unrestricted funds | Restricted | ||||
| funds | |||||
| General | Designated | ||||
| funds | funds | 2021 | 2020 | ||
| Employment costs (Note 4) | 58,082 | 18,960 | 77,042 | 71,751 | |
| DRAFT Property costs (Note 3) 53,609 1,815 55,424 48,370 Ministry Expenses 5,920 7,203 13,123 7,544 Church Events 0 0 4,062 Bank charges 166 166 138 Licenses, Subscriptions, etc 928 928 663 Phone, postage, stationery etc 2,291 2,291 6,477 |
|||||
| Training, Conferences, First Aid, etc | 0 | 0 | 354 | ||
| Refreshments/Church hospitality/Food | |||||
| supplies | 712 | 712 | 3,789 | ||
| Church Assets - PA equipment | |||||
| /computer etc | 2,182 | 2,182 | 1,861 | ||
| Legal costs | 4,830 | 4,830 | 10,298 | ||
| Sundry Expenses | 1,519 | 1,519 | 2,561 | ||
| 130,239 | 0 | 27,978 | 158,217 | 157,868 |
8 Year ended 5 April 2021
Twynholm Baptist Church Reports and financial statements
Notes to the accounts (cont.)
3 Grants paid in relation to charitable activities undertaken by others
Unrestricted funds Restricted funds
| General | Designated | ||||
|---|---|---|---|---|---|
| funds | funds | 2021 | 2020 | ||
| Grants for: | |||||
| Individuals | 5,000 | 5,000 | 5,000 | ||
| Institutions | 18,045 | 18,045 | 19,996 | ||
| 23,045 | 0 | 0 | 23,045 | 24,996 |
The grants to institutions amounting to more than £1,000 in the year were
| 2021 2020 |
|---|
| Christians Against Poverty 3,200 7,200 |
| Latin America Missions Trust 7,000 7,000 |
| Hope Church Aviemore 4,000 4,000 |
| Fellowship of Independent Evangelical Churches 1,845 0 |
| 16,045 18,200 |
| DRAFT 4 Transactions with related parties The charity had 3 (2020: 3) full-time equivalent employees to whom the employment costs above refer. Mr Gilbart-Smith was paid a salary of £31,847 (2020: £31,324) and the church paid pension contributions of £4,793 (2020: £4,562) for him for serving as a church leader, not as a trustee. In addition he occupies a manse rent-free. |
Mr A Mpasi was paid a salary of £18,583 (2020: £10,500) and the church paid pension contributions of £2,230 (2020: £1,260) for him for serving as the assistant church leader, not as a trustee. In addition Mr Mpasi occupied a room in one of the church flats rent-free.
The payments to Mr Gilbart-Smith and Mr Mpasi are permitted by the church's governing document.
Except for the reimbursement of expenses, no other amounts were paid to any trustee or to any person connected to them.
9 Year ended 5 April 2021
Twynholm Baptist Church Reports and financial statements
Notes to the accounts (cont.)
5 Movement on funds
| Opening | Receipts | Payments Transfers | Payments Transfers | Closing | ||
|---|---|---|---|---|---|---|
| Balance | Balance | |||||
| £ | £ | £ | £ | £ | ||
| Restricted funds | ||||||
| Benevolence Fund | 7,100 | 1,730 | (7,203) | 1,627 | ||
| Lift Fund | 4,500 | 4,500 | ||||
| Roof Fund | 15,394 | 27 | 15,421 | |||
| New Building Project | 690 | 107 | 797 | |||
| Staff Training | 10,000 | 8,960 | (18,960) | 0 | ||
| Rent deposits | 3,550 | 3,100 | (1,800) | 4,850 | ||
| Other restricted funds | 15 | (15) | 0 | |||
| Total Restricted | 41,249 | 13,924 | (27,978) | 0 | 27,195 | |
| Unrestricted Funds | ||||||
| Designated funds | 0 | 0 | 0 | 0 | 0 | |
| General Funds | 47,381 | 217,081 | (161,284) | 0 | 103,178 | |
| Total unrestricted | 47,381 | 217,081 | (161,284) | 0 | 103,178 | |
| Total funds | 88,630 | 231,005 | (189,262) | 0 | 130,373 | |
| DRAFT Restricted income has been received for the following purposes: Benevolence Fund: represents monies received to support various church members or those in the community who are in need. Lift Fund: represents monies received for the installation of a disabled lift in the church basement. |
||||||
| Roof Fund: | represents monies received to renovate the church roof. |
New Building Project: represents monies received to fund major works to church property.
Staff Training: represents monies received from the FIEC and Fulham & South Kensington YMCA for staff training costs.