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|I|ACCOUNTING<br>POLICIES||
|---|---|---|
|s|Basis ofpreparation||
||These accounts<br>have been prepared an aIransiticnal<br>beats mmring<br>from an eccrusb basis loihe nmeipts end psymenH<br>basis.<br>Both bases ere In mmcrdance<br>with Sectkm 133ChayEes Aet 2011.No adjustment<br>hss been made tothe corn pareil<br>vss<br>fcrthe change of acmmnling|pagcy.|
||Hams<br>Hgl Bspssl Church<br>isaregbtered<br>charily (Nw 1153419)snd meets Lke dsgngkm<br>afs public benefit entity under FRS102.<br>Asseb end liebgEas are Inqially recognised st hlstmlcal cast or transackcn<br>value unbss otherwise slated in the relevant||
||sccoiiribng<br>policy notes.||
|b|Fundoalslng<br>and pubECRy coals||
||The Church does not make formal appeals for funds end mpendlture<br>an lhasa gems ls therefore nol mstwial.||
|c|Grants payable||
||The Church makes grants loindMdusb<br>and ether arganisslions<br>whose charitable objects ccmpbmenl<br>ils work. They are acmmnted<br>for in the year in which they are paid.||
|d|Support cosbi||
||Support mats are those that assist the wwk cfthe Church but do ncl dirsdly represent<br>charSable ectMlies and Include affice||
||ccats end governance<br>cast. Much ofthe management<br>is cerned cut withcul charge by volunteers.<br>This intangible cost is not||
||included<br>In the Slatemerri ofRnancal Amlrqies<br>sinoe there is no measurabla<br>mwt tothe volunteers<br>for their servbes.||
|e|Fkted assets||
||The Church<br>kmd md premises end ths Mares are held an behalf cfihe Church<br>by the London Baptist Prsperly Board Limged as<br>Custcdlart Tlustsmi.||
||The Church<br>land and premises are the sub)mt ofa long lease fram Oulwieh Estates and the trust deed resklcts the use afthe land||
||lothat cfa pubgc place ofworship.<br>In Ihese mrcumstances,<br>it isme opinion af Ihe Managing<br>Trustees<br>that Itis inappropnste<br>to<br>suribute a monetary<br>value Ioa place ofwarship<br>and, wgh eqmi from I October 2005, Ihe carry'ng<br>value hss reduced toa nominal<br>mlus ofL1. Fcrme year from 25FebruoN 2020the insured<br>value ofthe Chumh<br>land end bugdlngs<br>was 26,127,700 f2019'<br>25,972C03).||
||The Manse, purchased<br>in 1998,Is Included<br>at original mmt as, in the opinion ofthe Managing<br>Trustees, the property has a high<br>residual<br>value which renders deprecbqcn<br>charges immatmial.||
|f|Ooprecisgon||
||Provision<br>Is made for depnmisgon<br>cfcomputer<br>end other equipment,<br>fwlures arid flBngs held far use by Ihe Church al annual<br>rates<br>calcubtod tospread the cost Sass enbclpsmd<br>residual value) ofeach asset on a straight<br>line basis aver the aqmcted<br>useful life<br>ofSyears.<br>However,<br>equipment<br>purchases<br>costing less than E5,000ere wrlllelvrm<br>In the year in which the expenditure<br>is incurred.<br>Once such assets are fully depnmisted,<br>Ihe ccetand accumulated<br>depreciation<br>me eliminated<br>from the Financial Statements.||
|g|Funds||
||The General r.und (un eslricted) is available for use althe dis<br>ration cfthe Ivtar:aging Trustees<br>In furmerence<br>ofthe general<br>objemives of the charily and which hare nol been demg naiad for other pumoses.||
||Restrmed<br>Funds sre funds which we tobeused in accordance with spemfic resbicficos imposed<br>by dcnom or which hove been<br>ra!Sed by the Church for particular<br>purposes.<br>*ny mmls M raising and edmirilstenng<br>such funds are cnmgea against the specific<br>Mnd. The aim and use ofeach restricted<br>fund issel cut in the Notes lo Ihe Finmciel Statements.||





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