METROPOLITAN TABERNACLE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Ragistorèd Charlty Numb•r 1151218 Contents: 1-4 Elders and Deacons, Report 5-7 Auditors. Report Statement of Financial Activities Balan Sheet 10 Statement of Cash Flows 11-16 Notes to the Accounts
METROPOLITAN TABERNACLE (1) Report of the Elders and Deacons for the Year Ended 31 December 2023 Thè Elders and Dèacons here provide their report and the audited finan¢i81 ststements of the Tabemacle for the year ended 310ecember 2023. Reference and Administrative Detail$, Trustees and Advisers The Metropolitan Tab8m8cle Ifomerty an Excepted Charity) has been a UK Registered Charity Since March 2013 - Registered Charity Numbèr 1151218. The full address of 1he charity is-. Metropolitan Tabemacle, Elephant & Castle, London, SE1 6SD. The custodial Trustee of the Metropolitan Tabemacle propetty is thg London Baplist Prvperty Board. However, for the purpose of thes8 accounts the Trustees of the Tabemacle comprise the members of its Elders and Dean$ Court. Tha Eld8rs and Deacons duriThJ the year were as follows.. Pastor l Ag Mohamed Mr R J D Compston Mr C C Cooper Mr E M Georgè8 Mr S Ingram MrAJ Laws MrCMLaws Dr P M Masters Iministorl Mro O Odumals Mr A M Onojobl MrACWOwan Mr A O Oyenubi MrDAESmith Mr P C Tunstell Mr M A Whyte Dr D L A Wyncoll The Tabernacle's bankers arg.. Lloyijs Ba plc, 25 Camb8rwell Green, London, SE5 7AB. The Tabernacle's auditors are.. Jacob Cavenagh & Ske&L 5 Robin Hood Lane, Sutton, Surrey, SM12SW. Stru¢ture and Governance The Tabemacle is an indtrpondenl Partlcular Bapllst Church. foLded in 1650, now constilLJted by its Lal Constitution of 2()12, based on the 1689 Baptist Confession of Failh and the Tabernacle's Trust Deed dated 21 April 1859. The Elders and Dèacons are èlected by the Church Meeling, and a spOnSible for leadership ol the church. The Tabernacle is a registered charty. no.1151218, and has a number of related chaThti8s. narnèly, thè Tabemacle Manse Charity, the Melropolitsn Care Chaty and the Wateman Trust. The Trustees Ithe Elde and Dgawn51 are elected by thè Church Meeling. and are responsible for leadèrship of Ihe church {Section 6 01 the Legal Constituti71. There are no other senior managers to whom day-traY management is delegated. A limited number of tnjstees are remunerated. and their pay is sel by the non-remunerated Iru*g95. wrth refererhcÈ to similar roles in other charities. The Legal ConstitulK)n Isethn 101 des¢ribes decisions taken by Ihe trustees. Staff arè appointed to assist Ihe trustees and are under Iheir superwsion. All expenditure by stsff 1$ aulhorised and Goun19tsigned by Ihe trustees. New trustees are provided wlh information Èbout their statutory respmsibilities as trustees, as well as being provided th instruction on the role within th8 Mètropolitan Tabemacle. Thè major risks to which the Tabemacle is exposed, as identified by the Trusts84 in the a8$ of finance. operations. Safeguarding, and regulatory compliance are regularfy reviewed. PnKedures are in pla¢e to mitigate those risks vhiGh are considered approp¥iate and effecbve.
METROPOLITAN TABERNACLE {2) Raport of the Elders and Deacons for the Year Ended 31 December 2023 (continued) Trustees statement of respon$ibiliti8s The trustees are responsible for prepariThJ the Trustees, Report and the finanfyal statements In accordance with applicaNe law and United Kingdom Accounting Standard5 including FinanGial Reporting Stsndard 102.. The Financial Reptsrb"ng Slandard applicabl8 in th8 UK aTh1 Republic of Ireland (United Kingdom Generalty A¢eepted Accounting Pract1. The law applICab to charities in Eland & Wales requires th& Iru$le$$ to pmparè financial statements for each financigl year which give a true and fair viaw of ihe slate of affairs of the charity and of the income and exp9ndilure of thè dlarity for that Period. In pparing these financAal statements. the twslees aw require(1 lo.. select suitable accounting policies and then apply thern consi8tenlly'. observe the melhods and principles in the Charities SORP., make judgments and aw)unling ¢stimates that are reasonable and pwdenl- slate whelhei applicabl8 accounting standards have been frllowed, subièet to any matèrnal d8partures disclosed and explained in the financial statements., and prepare the financial stalements on the going concem basis unless il is inapprowiate to presume that ths charity wll conlinue in busing85. The trustees 8re réswnsibla for m8intainin9 woper accounting records which (lisclose wth reason8bl8 a¢¢ura¢y at any lirne the financial wjsibon of the chaiity arKI enable them to ensure that the financi81 ststernents tpIY wth the Charili8s Act 2011. the Charlty (AoUtS and Reports} Regulations 2008 and thè prowsions of the tnjst deedlconslilulion. They are al$0 iespon&ble for safeguarding Ihe assets of the chwity and he8 ft)r laking reasonable steps forthe prevention and detection of fraud and other irregularities. The Tabemacle's Objectives and Activities The Tabemade's objectives are the advancement of the Chrisllan faith, the nurture of God's profassing people and th8 beneffit of the public Ihrough the religious and rnoral Éducation of children and all other people, care for the elderty, promobon ol racial harrnony, and the adnCement of theologlcal education. including Irdining for ministers and church leailers. The Church also Pfepares and dlstn"butes Chrtslan lilerature, and carries out oth8r oh81itable purposes consistent with its Tt De8(1 and Confession of Faith. To do these things, it operates various funds in respect of different branches of the work. Th8 T8bemacle awards grants to individuals and organisaiions that meet the cThteria laid down by the T)ernle. The Trustees have had due regard to th8 guldanc8 Sssued by Ihe Charity Cornmission Telatiry to publ bènèfft, and the Tabem8cle provkyes this in a numbÈrof ways: By the provision of pvblic worship sèmces, including speaal facilities for Deaf people, and simultsneous interpretsthon in a nuvnb9r of languages. The Tabemacle has over 950 members and adhÈrants over sixteen, plus numerous other regular attenders and visitors. By its larg8 oulreach Sunday Schools at four locations which serve many hundreds of teenagers and young childrer) {arourKI 1.000 enrdlgdl in 50Uth London. with associated weeknight recreational and social training activities, educational outing and c2mp actiwties, all serving the adv8nc8m8nl of Christian values and helping to preserve very many young pgople from the youth gang culture of inner South London., By regular college ag9 Glassgs 1&18 year-old young people., By its young &Yults' doctrine classes helping numerous studgnl-age ptsople lo be estsblishèd in Chrfstoan doctrine and citizenship values.. By the provision of freg aud-Vid&0 messages and studies on sponsored Sky TV and on the Intem81- the latter eyperienong over 15.000 wholly downloaded messag8s per moinlh., By thè opèration ol the London Refom)ed Baptist Serninary on-line Course with marted coursework for aspiring and servin9 pastors, and church wothers lover 400 8nrolledl- 6y its Days ol Special Studies and Christian Workers Fratemal me8liThJs which are attende(J by hundreds of Christian W0erS from rosS the UK., 8y its support ol pioneer and mission worts in the UK and across th8 world., and By it5 provision of various facilities for care of the eerty, includiro a part-time care vi8110r.
METROPOLITAN TABERNACLE {3) Report of the Elders and Deacons for the Year Ended 31 December 2023 (continued) Achievoments & P8rfomian¢• In 2023 the Tgbem8¢18 continued its programme of weekly public services and its Sunday Schools and Biblg Classes for childrèn and young peopl8. Setvices continued lo be made available as free live-stream broadcasts. A new YouTube channel for Gospel sermons was opened. The T#beMle continued its emphasis on outreach into the community lo make the Gomft>rts and streThJths of worship arKI faith available lo all. Large scale visitation. contsct worf( and literature distribution w8S fArrièd out by mernbèrs, and seNices and Bible education meetings were open to all, wth BSL InterptiOn for Deaf atteThlers. Pastoral and practical hèlp was 6Xtandad via many interviews, and also by visits lo home8 iluding practieal care for needy elderty attendern. includin9 transportation lo appointrnenls, support and assistsnc8 in probleffl$. OVD$ of recorded PTeaGh8d tng3sages cairying biblrcal insiruction were made available freety to èlderty frId$. A wd& rang& of literatu was also made available freely via the church websTte. the latter renting hosted services for handling the storag$ and live streaming of video and audio services ancl messag85, m8ny thousands bein9 downloaded Sach nth. Pr8Cti&g1 hèlp and frièndship was also exlended to many Ihrough Ihe Deaf Fellowship and to needy families and irKlividuals. including the promob.on ol hospitality by mgmbers to lonely people to wsilors. Ywth and children's rThnistries continued to be a key CoMnent ol Tabernacle work. Sunday Schools providing for around 1.000 und8r-sixt88n5 in the community, being operated on four sites. Nineteen minibuses OWTl8d by the Tabtsmacle plus private Cars. were collecting children satsly. Supported by weeknight recreational evènlngs Itwo evenings ea¢h weekl. outings and an annual camp, these have provided tj'blioal and moral bnslruclion, keeping hundreds of children off th8 str8èts and out of gangs, and imparting a more wholesome nwndsel for their lulure Ilves. (Over 250 staff and trained voluntgers have operatgd this wort in this year.) During the year over 20 ov8rs&as national paslors were wholly or largely supwrted. Churches and compassionate work were maintained, including mèdical support and feeding hurory children, and this has required high funding, vthich also incorporated additional money given by readers of the Tab8rnacle's 'Sword & Trowel. MalIne. Weekly non-subscriplion salollito television broadcasting has enabled lhou5815 of viewers around thè land to accèss the r8gL>lar teaching ministy, wth frequent feedback indicab'ng that help and blessiThJ h8s been gained by vlewers throughout the UK. Review of Finances As shown in the Slalement ol Finandal Activities on page 8, there was a net infl¢yw of resourc88 spread a¢ros$ warious fvnds. Closing rgservgs were £1.323.590 of which £118,466 were for restricted purposes. Fund5 ale generally used within a reasonably prompt b"mescale, and there is no policy to maintain significant King-terrn resérves. rall, Ihe stale of financi81 affair5 of th8 TabÈmade is considered lo be very satisfactory. The Tabemade building is an historie assèt and 8 list8d building. The mission buildirrtJs, Surrey Gardens and Surrey Square, are also historic missions of thè Tabemacle, lor which pUoSe they continue.
METROPOLITAN TABERNACLE {4) Report of thè Eldèrs and Deacons for the Year Ended 31 December 2023 (Continued) Plans for Future Periods The Church has a number ol plans lor the future, including the following.. To maintsin and increase the large attendance at public seNces and Sunday Schts8 and to spread the gospel mewe by outreach vi$italion and literature distribution in Ihe community. To increase the work of thè main and branch Sunday Schools and related recreational actiVe$ by conlinving personal work and visitation. To continue the estsblishment of Ihe Brixton Sunday Schwl, inlroduuro children and young people In the LoughboTough Jundion arèa of Brixton and Stockwell to the teaching of the Bible. To open an additional Sunday Schod in the Bemiondsey area. To extend the online sIamIng of live services and recorded ministry and vKitten maleTial, whith 18 boing increasingly acctsssed and valued worf1fvde, supporbng people by regular ministry, and providing guidan and instru¢b'on lo pgoplg seeking the teaching of the Gospel and sound biblical principles. To extend the availabilty of Junior Church materials, and weeknight meeting materials, by upgrading and publishing further strrias topics. To assist and coordinate the translation woth of key materk?Is lundertaken by members and nationals part- time) into other languages su¢h as Chinese. Spanish. Portuguese, Romanian. Amharic, Tamil, FTerKh, Hungarian, Polish and Arabic. To support the growth of the D6af F@Iltswship and continue wilh BSL signed broadcasts lo sponsor BSL training for surtable young people lacking means. To continue to improve the design and contenl of the Tabemade wobsite, }rlUdIng the development of non- English langu8gé pagès. To operate tha YtsuTube thannel for Gospel semions, including provision of 'shorts' and 9-minule $8rnon excerpts. To continue increasing the amount of literature and infomiation avalable freety on the Tabernacle website, including in olher18nguages. To complete renewal of ernenCY lighting equbpment end electiical wiriro to meet curient r9quired standards. To build new rooms as part of tha provision of additional dassrooms. Fundraising and Gift Aid Tabgma¢l¢ reeeives funds enllrely from freewll offerings, mainly by people associated wrfh thp chtjrth. The is opportunity to give an offering by cash, cheque or by card in Ihe weekly Se$, and many other donations are given separately. mainly by bank transfer. Encouragernent is given lo u$e th¢ Gift Aid sch&m6. A brl6f summary of Ihe giving lo date is shown on the Congregation's prayer meeting wèbsii8. The biblical principles of oiving are included from lime to tirn8 in th8 (vurs8 of the teaching ministry. A voluniary Thanksgiving Fund is a long held tradition. There are no public appeals for funds olherthan as follows. For ovèrsèas compassionate support for needy situations and disaster relief, trom lime lo tSme we make appeals to Chftstians, mairly thmugh the Sword & Trowel magazine. No professional fundraisers 810 employed and the whole of any such support received is passed on lo the pÈoplè dÈscribÉd, and nonè of it is usèd to defray any expenses of the Tabemacle. Auditor3 Jacob Cavenagh & Ske9( Chart8rgd Accounlanls, have indtaled Ih$ir willingnw lo Continua Sn office. ON BEHALF OF THE ELDERS AND DEACONS Chris Cooper 1yh July 2024
METROPOLITAN TABERNACLE (5) Independent audltor's report to thg ¢lder¥ and thacons of Th• M•tropolitan Tabernacle Oplnlon We have auditèd the financial statements of The Melrot)olilan Tabemaclè (thè Chariv) for the year ended 31 De¢ember 2023 which cornprise the Statement of Financia1 Activtties, th& Balare Sheet. the Statement of Cash Flows and notes to the financial statemen15, including a sumrnary of significant accounting policies. The financial reporting framework that has been applied in their prepardtion is applicable law and United Kingdom Accounting Standards, including Financial Reportiro Standard 102.. The Financial Reporting Standard applicable in the UK and Republic of Iland (United Kingdom Generally Accepted Accounting Practic&}. In our opinion. the financia1 stslements- give 8 true and fair view of the stsle of the Charrty's affairs as al 31 December 2023 and of Its Incomlng resources and at)pll¢afjon of resou85 forthè yearthen ended. h8ve b8en properfy prepared in accordance with United KinOM Ggnerally Accepted AccounJng Pracli¢e- have been prep8rgd in accordance wth the r8quir8m8nts of tha Charities Act 2011. Basls for opinion We conductéd our audit in accordance with Intemalional Standards on Auditing (UK} {ISAs IUKII and applicable law. Our responsibilities under those StaardS are fvrther dgscribed in the Audilorfs rgspon$ibblitie$ lor the audit of the financial stat8wn8nts section of our report. We ere independent of Charity in accordance with the ethical requirements that are revant to our audit of th8 finanryal stalem8nts in the UK. including the FRC'S Ethical Standard. and we have fvifilled our other elhical responsiimlilies in accordance wlh these requirements. Wè b81i8vè that the audit 8videncÈ we have obtained is Sufflent and appropriate to provide a basis for our opu)ion. Concluslons relatin9 to going ¢on¢om In auditing the finan(ial 5ts1gm6nts. we have ccfftcluded thal the trustees. use of the goir¥J concem b83is of accounting in the preparatlon of the financial statements Is appropriate. Based on Ihg work we have performed, we have not identified any maierial uncertainties relalfing to events or conditions that, individually or co116ctively, may cast significant doubt on the Charty's ability lo ¢onlinu& as a going concem for a period of at least 12 months from when the narla1 statements are aulhorised for i88ue. Our r8sponsibilib.gs and thè responsibilities of the trustees with respect to going concern are descnbed in the relevant sections of this report. Oth•r Informatlon The Iruslees arè rèsponsible for the oiher infomiation. The other infomalion compri58S thè inforrnation included in the annual report other than the financral statements and our audrtorfs report thereon. OLJT opinion on the financial statements does not covei the other infonatIon and we do not express any forrn of assur8ncè conclusKJn thereon. In connection with our audit ol the financial statements, wr reswnsibility is lo read th8 other inforTnation and. in doing so, consider whether the other infomalion is materially in¢on$isl¢nt wlh the financial statements or our knedge obtained in the audit or otherwse appears to be materially misstated. If we i(5entify sud) material inconsistencies or appar8nt material rnisstatements, WÈ arè wuiréd to dètèmiin8 &thr there is a material rnisslatemenl in the rinan¢ial statements or a material misstalemgnt ofthe olher inft)rm8tion. If, based on the work we have perf<)mwd, we con¢lud& that there is a material rnisslatsrnent of Ihis other information. we ar8 required to report that fact. We have nothing lo report in this r8g8rd. Matters on whl¢h w¢ are requlr•d to report by oxceptlon In th8 light of the knovledge and understsndino of the Charlty and its environment obtained in tho couw of the 8ydit, we have not identified material misstatements in tho Irustè8$' report.
kqETROPOLITAN TABERNACLE (6) Indepgndgnt ?udltor'$ rèport to th• •ld•rs and doac<>ns of The Metropolitan Tabèmacle Icontlnued} Wa have nothi to report In respect of Ihe following rnatters in relallon lo which the Charfl8 Act 2011 require¥ us to report to you if, in our opinion.. adequate and proper accounting records have not b&sn k8p( or retums adequate for our audit havg not begn receivad from branch8s not visited by us., or the financial slalements are not in agrèement wth the accounting records and rglums.. (x certain disclosures of trustees, remuneration specified by law are not made.. or we have not received all the infom)ation and explanations we requirg forour 8udlL Responslbllltl¢$ of th¥ Irustsg$ AS explalned mre fully in thè tDJ8tees' restK>nwbilitieB 8tatement sel out on page 1, the tNsle8s 8re r8swnslble for the preparalion of the financial statements and for bèing satisfied that they give a true and fair wéw. and fr)r such Internal control as they delemiine is necessary to enable the preparation of fmancial s18lemenls that aro free Ifom mateiial misstalemenl, whether du8 lo fraud or error. In preparing the financAal statements. th9 trusttres 81¢ responsible for assessing the Charity's abilily lo ¢)n6 as a goSng concem. dI10$1g, as 8pplicabl6, mattèrs rèlatèd tr) gimng concem and using Ihe going eoncem basis of accc4Jnting unless the Iru51ee$ either intend to liquldate the Charity or to ce8S8 operations. or nts realistic allemative but to do so. Audltor's ro$pon$ibilities for the audlt of the financld $tat¢monts We have been appointed as auditor under section 144 and report in accor(18wKe wtth the Act and rglevant regulations made or having 8ffecl thereundei. Our obj9clives are to obtain tea$onablo assurance about whelher the finanGial stat8m8llts as a whole are free from material misslatemenl, whether due lo fraud or error. and to issue an avditorfs report th8t includes (Mjr opinion. Reasonab18 assurancg is a high level Of assurdnce. bul 15 not a guarante8 that an audr( conducted in accordance wth ISAS IUKI will always detèct a matarial misstatement en it e%ists. Mlsstatements can arise frorn fraud or error arKI are consid&d material if, indmdualty or in th9 aggregate, they Could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. The extent lo which our proce(lures are Gapablg of d6t6cting irregularibes, induding fraud dètailed below. Baséd on our understanding of the Charity. we idenltfied that the priy1paI risks of nortrcompliance with laws and regulation$ related to employment and financial reporting legislation and we considered the extent to which non- compliance might have a material effect on the financial statements. We also considertrd tho$& laws and regulations that have a direct impact on the preparation of the financial ¥latements such as the Charities Act 2011. We assessed the sU8C8ptibility of the charity's financial stalemer)ts to matèrial misstatent, includiro obtsining an understsnding of how Ir8ud might occur, by making enqeS of management. ¢OnSKlerirwJ the intemal controls in plaea and discussion amongst Ihe engagement team. We del8Tmin8d that the principal risks wgre related to inappropriate accounting èntrfes affecting the disclosed revenue or expenditure arKI payments lo third partios. In response lo the risks idÈntffi6d wè d6signèd procedures which included. were not limited to.. age1n ffinancial statement disclosures to umdety1r supportlng th)curnentatKJn idèntity.ng and tesb.ng joumal entries reviewing TrLJStees rnÈéting minutès valuating the charity's internal controls verifying payments lo IhiTtI partS on a sample basis
METROPOLITAN TABERNACLE {7) Ind•pndent audltor's report to th• •ld•rn and d•acon• ol The Metropolltan Tabemacle Icontlnuedl There are inrterent limrtats.ons in the audrt w(rEdu described abJv•. Th$ more rernoved th81 l•ws and r89uLations are from financial transa¢tsons. Ihe less likely rt Is that we would become avre of n()n<0Mlan¢e. materal misstatements that arise due to fraud ¢an be harder to detect than those that arise from error as they may Involve deliberate cOnalment or collusN. A further description ol otjr r&swnsibilrtie5 lor the audrt ol the finanaal statem¢nt$ Is located on the Finarrial Reporbng Cnl'S w&bsile at." vMM.frc.wg ukJ8uditofsresF¥)nsibilibes. This d$s¢ripD"on fomis part of our audrtor'$ report. U8• of our report This report is made stsltrly to the Charity's truslees, a$ a tA)dy. in •¢¢ordance Part 4 of the charrtie3 IA¢¢ounts aTrY Rtrportsl Regulations 2008. Our aL11 has t)een undertaken so that we might stale to the Charity's trustees those matters we are require¢y to $tste io Ihem in an auditor's report and lor tK olher purpose To the fvllest extent pemiitted by law. we do not accept or assume responsi1 to anycry other Ihan the chanty and the charity's trustees as a body. for our audit work, lor this report or for (he opiruons we have lomied. Jacob Cayenagh & Skt Statutory Audltor Chart•r•d A¢¢ountsnt• S Robin Hood Lane S¢Jtton Surrey SM1 2SW 03ted'. 26th July 2024 Jacob Caven8gh & Skeel is elwible for 8PPatntment 8$ auditor of the chity by virtue olits el'bilIty lor appoinlm8nl gs audiioro18 cornpany undersèc11 1212 olfh& Companies Acl 20C6.
METRQPOLITAN TABERNKLE 181 Stat¢mBnt of FInaNcl b1the5 f theYearendedJl DecernbBr2023 Not 2023 202J 2023 2022 2022 2022 Incornglrom.. DonatknnsaDd legaue5 Inveslmert¥ ChaDtsble 1.455,T13 55,816 94,481 198.874 96 1.4.097 55.912 94.481 1.237.412 27,182 91.771 216,256 1,4$5,6fj8 27,187 91.771 TO11¢0& 1.60S,S20 198,970 1.8114,490 1,3K345 218,%1 1.574,6Q$ Exp•ndIreOn. Pub¢ty 3.>1 3.321 AcuvlUe8 Gran payab CD ol Salp ¢Jher Èpoertses ProVi9n ol Mknis1ry& outroath Supwt CDsts Admini¥tratton 30.347 55.668 s5.(0 781.010 368.261 90.688 28,873 57,220 SS,e68 S5,0 1.053,569 36B,281 ),724 139.482 54.058 53.387 692,871 306.520 83.705 13.402 152.884 54.058 53.387 970.046 306.520 83,70S 78 7b 272,559 277.376 1 380.975 1.3U823 2W.777 1.820.1(K) Toisl•xp•ftthwe 1,314,298 67 1A83,763 1J31.7O3 2W.777 1,622 P4Bt1r)Mp0thtuTe 221,224 {1NA97 120.n7 2U42 {47,874} Transler5 betYen Fvnds 170.OLV)} 70.OOU 170,0001 70,000 J•t nwOmnI In frjnds IS1224 130,4971 120.727 145.3581 12.5161 {47.874) f¥hd$ brots9ht loMrd 1.053.9)0 148,963 1,202.863 1.0.258 151.479 1.2SO.737 Funth c•rri•d foroYd 120$ 124 1 323 $90 1.0530 148.963 1202.8$3
METROPOLITAN TABERNACLE 19) Balance Sheet as at 31 December 2023 2023 2023 Unrestricted Restri¢l 2023 Total 2022 Total Fixed Assets Tangible Fixed Assets 10 17.808 17,808 4,094 Current Assets Stocks Debtors Interfund Account Short-lerm dewsi18 Cash Bt bank & in hand 11 12 26,690 227,311 5,504 BOO,000 163.564 1,223.069 26,690 236,179 36,134 157,595 8,868 (5.504) 800.CK)O 278.666 1.341,535 115,102 118.466 1,038,542 1,232,271 Credit Amounts due wthin one year 13 35,753 35.753 33,502 Net Cuffent Assets 1,187,316 118.466 1.30S,782 1,198,719 Nat Assets 1.205,124 118,486 1 323,590 1,202,8e3 Financtrd by= Funds 1&17 1.205,124 118,466 1.323.590 1,202,863 Approved by the Elder$ and Dewns on 19 Juty 2024 Elder.. C Cooper D8acon.'
METROPOLITAN TABERNACLE {10) Stat•ment of Cash Flows for the Year erKl•d 31 DKemb•r 2023 2023 2023 Unreslricled Reslricled 2023 Tola 2022 Tolal Cash flows from operating activitie$: Net lexpendilurelJin¢ome for the year Adjustments for. Depreciation Charges Dividends, interest and rents D8creasellincreasel in slc¢Ks Ilncreaselldecrease in deblors Increase in creditors 151,224 {30.497) 120,727 147.874} 10.030 (55,816) 10,030 {55.9121 26.825 127.167} 13,845 132.308} 2,523 {78.584) 2,251 (78,5841 2,251 Nel cash (used in)Iprovided by operating adivities 38.549 30.593 7,956 64.156 Gash flows from Invostlng activitias: Dividends, interest and rents Purchase of property, plant and equlpmenl 55,816 123,7441 96 55.912 123.7441 27,167 32.072 96 32.168 27.167 Change in cash & cash •qulvalents in the year 70.621 {30,4971 40,124 136.989) Cash & ¢ash equivalents al the start of the year 892,943 145,599 1,038,542 1,075.531 Cash & ¢a$h equivalents al the end of the year 115,102 1,078.666 1038 542
METROPOLITAN TABERNACLE {11) Notos to the Financial Statèments for the Year Ended 31 Dècember 2023 1. Accounting Policiès The prÉnrypal 8ccounb.ng policies adopted, judgements and k SoUrS ofestimation uncertainty n the preparation of the financial siatements are as follows: lal Accounting convention The finanGial *tements have been ppared under the Charitles Aot 2011 and In accordanc8 with the Charitiès Statèment of Recommended Practiee Icharlties SORP IFRS 10211 and Financial Reporting Standard 102 IFRS 1021. The finanrial 8t8tements are drawn up on the historical cost basis of a¢¢ounb"ng. The Metropolltan Tabemacle meets the definition of a publk beneffit entSty under FRS 102. Th8 8ddrèss of the registered office is Metropolitan Tabemacle. El¢phant & Castle. London SE1 6SD. The financial ststements are prepared in sterting. which is the functional currency of the charity. Monetary amunts In these financial ststsments ar& rounded to the nearesl £. Ibl Goirw Concern There are m material uncertainties about the charity's abilty to conunue. Icl Income Voluntsry Ino)me Including leg8cBs is aCCotad for once the charity has entitknient lo the income, it is probable the income will be received and the amount of income receivable can be reliably measured. Investmnt income and bank inlertrsl 1$ recognised on an accTuals basis. Idl Expendlture A11 expenditure is included on an accruals basis. Grants made are accounted for vhb8n thè commitrnent is made to make the payment. Charitable expenditure comprises all 9xpenditure directly r91ated lo objects of the charity. This includes gov9rnance costs which present the cost of complianca with const11utnaI and statutory re1mentS. {e} Fixèd asséts The Metropolitan T8b8made bulkllng aNJ the Surrey Gar(lens and Surrey Squ8r8 mission bulldings and their asswiated irnprovemenls are historic buildings dating back to the rnid-nÈneteenlh century, and the original cost of the assets is not available. The Trustees estimate that the original cosl of these properties is imrnaterial, and therefore no value has been attributed lo them. Fixgd assets below an original cost of t2,1 ar8 not capitalised. Where freehold propefbes ate maintsined lo such a standard that thèir èstimated residual vae is in gxce$s of Iheir net book value at any time and depreGi8tion is imwnaterial. no deprecialion is charggd. lfj Dèpr•clatlon Depreciation is pmvided on all olher ta1b19 fixed assets al Tales ¢al¢ulated lo write off the cost of each asset over its expected useful life less eslimatèd rasidual valuè, over ils expected usefvl life, which in all cases is esb"mated at four years. {gl Stocks Strjcks are valued al the lower of cost and nèt roalisabla value. {hl Debtors Loans and olher debt0 are includwj at the settrnent amout)t due. Prepayments 8rè valued at the amount prepaid. Cash at bank Cash at bank is a short tem highty IULd investment wlh a short maturity of thretr months or less from the Ilale of opening of th8 deposit. li) Crtrdltors and provlslons Crèditors arè rècognised where the charity has a psent obligation arislng from a past event that 711 probably resull in thè transfer of funds to a third party and th8 atntsunt due to seitle the oblpJall b8 MeaSud or eslimaled reliably_ Credrtors ar8 recognised at their seement amounl.
MROPOLITAN TABERNACLE Notss to the FinanGitiI Statements forthe Year end¢d 31 D1Mr2023 IConLI 2023 2023 Unrestricted ReStrted 20ZJ 2022 Total 2. Oonatlons and legacies GeneTa1 Donalions Donations for mtssionies & swial appeals Collections Thks91n9 Fund Legaues 103,576 6,000 1,155,181 76,106 114,360 1 455 223 2C() 102.482 96,192 103,776 108,482 1.251,373 76,106 114.360 11kl.411 114,998 1.178.611 $5.248 400 1455 668 198 874 3. Invest[rt In¢om• Bank 8[ other inter851 Rent 78,821 36,995 96 18,917 36.995 428 26,739 4. Incorne from charab *Dtlvfftlo$ Bookshop & other sath income Seminary lee income School of Th8dogy r8ceip15 91,475 1,521 1,485 91.475 1.521 1,485 2,769 354 5. Grants Y•b In furtherancè of ¢harW$ oblectlb Grants io Ij1vE(ljs 30,347 28.873 57.220 152,884 Other Salos Expanses Wag&% and Salarie5 (See Note 91 Sales Carriage Costs 41,245 13.755 41,245 13,7SS 37,737 15,650 7. Costs of oth0r actItIo$ In furth¢ran olthe charws objects lal Pmwsion of nNnistry& oulrea¢h.. Wages & Sl8ri¢s (Se& Note 91 Vlsiting preachers & organists Schwl of Theology expenses Cètering costs SUJaY School expwses Payments tolfor mtssionaries twalure & Trans181ion Ix)5¢s OtreaCh c0515 801.177 2,270 3,705 25,651 27,810 19,750 4,481 96.166 781 010 601,177 2.270 3.705 25,651 27,810 291.712 4,481 ,763 550.098 475 10.387 27,923 30.817 281,687 1,035 67.624 271,962 597 Ibl Suppcrt costs.. Equipmenl repairs 8Th1 replxements Tabernade werni5es costs Other propertie5 expSeS Lht and Heat Telepe ma expenses Bus expenses Depreciation charges Motor and travel expenses 129.432 68,956 23,034 60.743 5,041 10,371 60,654 10,030 129,432 68,956 23.034 60.743 5.041 10,371 60,654 10,030 105,975 53,605 15,768 41.101 4.183 3,451 55,347 26.825 265
METROPOLITAN TABERNACLE {13} Notés to the Financial Statements for the Year ended 31 Decembor2023 IConL} 2023 2023 Unreslrided Restrided 2023 Total 2022 Total 8. Admlnlstratlon Postage & Phot¢)¢opying Office expenses Rubbish collection Cleanlng supplles Bank charg8S Subcontract administration Miscellaneous expenses Audrf£ costs Accountsncy fee pad to audltor 14,767 14,061 11,395 21.150 9.790 1,568 10.367 5.551 2,040 90 689 14,767 14,061 11,395 21,150 9,825 1.568 10.367 5,551 2.040 13,993 15,887 12,394 15,849 9,291 5,526 4,885 3,960 1,920 35 35 9. Staff ¢ost$ Wages and Salaries National Insurdnce costs Pens*)n contributions 580,378 46,734 15,310 580.378 46,734 15,310 530,198 43,513 14,124 Included in wag8s is a redundancy payment of £7.45012022.. Payment In Lieu Of Nollce payment £7,875). Contributi(ms to a pension fvnd for Ihe bènefit of employees were made during lh8 year. Th8 av8rage number of employees w85 2412022.. 22). No empl)yee earn £60,000 or more. Nonè of the Elders and Deacons recdved any reimbursed expens85 ¥b their capacAty as trustees. Tho fc41owing Elders and family membars ol Trusteos received remuneralw for s8ryices prowded to the church.. Pastor l Ag Mohamed £43,920 MrCMLaws £10.125 Dr P K4 Masters £21,754 Mrs H M Compston £31.354 These rvju indude EmrAoyel$ Nl and p$S0n Contribubons. Thls r8munerath)n is pemitted by clausè 9 of thè ConslitLthn. 10. Fix¢d A$8èts Motor CompLrter Vshicles E Other Fumitwe Total Cost Brought fard Additions Disposals Carried forward 217.427 23,637 146,933 46,456 23.744 434,453 23,744 5,394 452.803 5.394 212,033 23,637 146,933 70,200 reciatio Brought forward Ch8rga forthe Year Dispos815 Carried forwrdrd 213,333 4,094 5,394 212.033 23,637 146.933 46.456 5,936 430,359 10.030 23,637 146.933 52,392 434,995 Nèt Book Value, 3111212023 17,808 17.808 Net Book Value, 3111212022 4,094 4,094
METROPOLITAN TABERNACLE (141 Not0$ to the F•nancial Stst•ments for the Year endod 31 O•c•mbor 2023 {ConL) 2023 2023 Unrestricted R&8tricted 2023 Total 2022 Total 11. Stocks Bookshop stock Lessons for Lrf8 Visual (J$ 9.236 17,454 9.236 17,454 24,429 11.705 12. Debtors Tradè Debtors less doubtfLrf debts Tax rVerable on ino)me Other debtors Float5 and Loans Prepaymants & aecrued ino)me 776 38.493 3.738 70,747 43,841 157595 20,823 77,345 63.687 65.476 227311 2.868 23.691 77,345 69,667 65,476 236 179 6.000 13. Crèditors Other ditorS Other taxalion and swal security Amount due lo Metropolitan Tabernaclè Manse Charity Accn&81s and deferred incnme 3,505 13.628 1.062 17,558 3,505 13,628 1,062 17,558 2,813 12,575 1,062 17.052 14. R¥latgd party transaction5 Some of the Iwu5tees ol the Tabemacle are also trustÈ8s of thè Metropolrtan Care Charity, the Metropolitan Tabemacle Manse Charity and the Wakeman Trust. There were no transaclion5 with any of these charitr'es duTrJn th8 year. An outgtandlng balanc4 with the Manse Charty 1$ disdosèd in Not• 13. The aggregat8 value of unconditional donalKJns maée by the trustees to the church In the year was £109.182 {2022-. £106,7891. 15. Flnanclal commiknents During the year, the Metropolitsn Tabernacle made operating lease payments ol £5,593, which are rgcognised as an 8xp&nse. The Yuture minimum lease payments undèr non-eAncellablo operating leases are as follows.. al not later than one year.. £3,146.. bl later than on8 year and not later than fNe years.. £6,301.
METROPOUTAN TABERNACLE Notss to the Financial Statemonts for th• Yoar onded 31 December 2023 (Cont,) 16. UnYgstri¢ted Fund$ The andlS ofthe urTrslrided fvnds during th$ year is shown tehjw". Movemenl in Resowces Incorni Ou fèrs beleen Funds Fund Name Clf 2023 Gener81 Fund Special Resources Fund Tab8rnac48 BkshOP Literature Ministry Fund AudKFVideo Ministry Fund Legacy Fund Exceptional Pro11$ Fund 598,669 1,459,519 11,258.440} 15,403 373 1180} 6,189 86,473 1103,887} 4.408 18,450} 2,453 662 14,563} 295,285 53,935 135,921 150 1,053,900 1.80S.S20 (90,0251 709,723 15,596 11,225 4,450 4.350 408 2,902 349,200 127,295 1,205,124 1.384.296 0.000 20 General Fund Special Resources FUNJ Tabemacle BookstrK)P Literature Ministry Fund Audio-ViiJ80 Ministry Furn1 Legacy FWKI Exceptional Projects FuThY 629,806 1.272,410 11.216.091) 19,723 21 11801 18,340 79,903 1101,7501 178 {7.9371 2,217 14.0301 295.265 135,729 1 099 258 1356 34S 187.4561 {4.1611 11,696 6.898 3,023 598,669 15.403 .189 1,243 2.453 295,265 135,921 1 053 900 1.715 1 331703 Transfers from the General Fu) to the other funds retresenl General FurKS suprx)rt forthess a¢tNrtw. purposes ofthe unrestrithd fundsare as fdiows-. General Furvj To finance the T)emade's main obJ8thes and sctN"e$. S eual Res¢xMtss Fund For the stewarding of an ext¥aordinaryIaCyto 8pe&al pmie¢ts In the furtherance of thè Tabemade's majorobiectiwes. Tabemade Booksho Fund Te operate the Chrfstian bookshop wlfjd atthg Tabomade, whld) promotss the Tabemade's major objethves by the sale ef sound Christian litergture. LiMture Fund To promole the TabemaclÈ's major obl8ctives by the cKcuWKin of Ihe'sword and Trowel" magaine. an(1 other litereture. Audi¢FVKleo Mini%1 Fund To promote the TaberDaGle'5 ffjajor obj¢Fbves by the drculalk)n of roring5 ofTabgmadtt méssages, in bolh aud an¢J wideo fomats. ac Le9a¢ies lo fin8nce the Tabernac.5 main objectNeS aNI arthities. Ik)n81 Pro To fin8nc8 pr¢je¢ts *) accordanre wilh IhÈ Tab8macJe's major¢biectNfes. as enabkd by particJJkr dOnaonS or Income beyond tre budget plans.
METROPOLITAN TABERNACLE 1161 Not to the FInala1 Statements for the Year on 31 D¢¢8mbor2023 Icont,) 17. Restrkied Funds The analysTS oflhe restricted fvnds during the yaar 18 shown Wow.. Movgnent in Resourc88 Inwml Out oln TrJnslers beknn Fund$ FuThl Name Blf Russiwj Literature Fund LRBS Fund Issionary sUprt Fund Loan Building & Reserve Fund Myanmar Fund Disaster Relief Fund Nepvj Relief Furvj 1,507 14.2(kS 103.598 18.373 507 11,568 796 148 963 1,507 14.206 83,755 18,469 507 198.624 1288.46n 70.000 (11.000} 250 198 970 546 299 467 2022 RSsian Literature FUTh LRBS Fund Mission3ry Supwrt Fwd LoaTh Building & Reserva Fund Myanmar Fund Disaster Relief Fwd Nepal Relief Fund 1,507 14,206 104,559 18.368 507 11,568 764 79 1.507 14.206 103.598 18.373 507 11,568 796 63 218,11 1289,0671 70.(XY) 150 61 151 218 14 Thè purpose of the restrr1 fund5 15 Ès lo11tr.. Russian Uterature Fund To finance the supFly of Chri8b8n literaiure in thè Russian laNJuag8. London Rèfom)ed Ba list Semina LRBS FLknd To assist oversea5 Seminarians have attended the London Reformed Baptist Seminary. Mission rt Fund Montes received from dorK)rs, mirieted to overs$ mthistry SUPFKJrt. Loan Buildin & Reserve Fund To 51St, by gift or loan. in the building, enlarg8ment or repair of p18ces of divine worship bglonging to the Particular or Calwnistr'c Baptist Dar)MinatIOn. M anrnar Fund To 2SS1St the SFfeadiry of th8 gospel in My8nm8r IBwma}. t r Relièf Fund To a5SiSt Ihe relief ol Christian ccmmunilies in weas stw¢k by natural di5astets arou1 the wotld. 1 R lief Fund To assist the relief of Chrislian communlties In areas strud( by natural disaster in Nepal.