OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2022-03-31-accounts

WESTBOURNE GROVE CHURCH Accounts- 31" March 2022

WESTBOURNE GROVE CHURCH

Charity number: 1168834

Accounts – 31[st] March 2022

INDEX

1-4. Report of the Trustees and General Information and Appendices
5. Appendices
6. Independent Examiner’s Report to the Trustees
7. Statement of Financial Activities
8. Balance Sheet
9-15. Notes to the Accounts

WESTBOURNE GROVE CHURCH

REPORT OF THE TRUSTEES for the year ended 31[st] March 2022

The Trustees are pleased to present their annual report and financial statements of the charity for the year ended 31[st] March 2022

The Financial Statements have been prepared in accordance with the accounting policies set out in note 1 to the accounts and complies with the Charity’s governing document, the Charities Act 2011 and Accounting and Reporting by Charities: Statement of Recommended Practice (second edition) and Financial Reporting Standard FRS 102.

Reference and Administration Details

The charity’s name is Westbourne Grove Church.

Charity Registration Number: 1168834 Principal Office: Westbourne Grove Church Westbourne Grove London W11 2RW

Custodian Trustees

London Baptist Property Board 235 Shaftesbury Avenue London WC2H 8EP

Bankers

CAF Bank 25 Kings Hill Ave Kings Hill West Malling ME19 4JQ

Trustees

The Trustees and officers who served during the year and since the year end were as follows:

Chris Thackery (Chair) - Elder Lucy Baer - Deacon Rosie Grant (Secretary) - Deacon Paul Frith (Treasurer) - Deacon Andrew Perriman - Elder Hannah James – Elder (resigned 27-06-2021)

The spiritual leadership of the church is the responsibility of the Elders. The business of the church is the responsibility of the Managing Trustees. However, the Custodian Trustees have responsibilities relating to property and other matters as defined in the Trust deeds. Some decisions (summarised in Section 11 of the Church Constitution) can only be made with the consent of the church members as expressed in a church meeting.

Induction and Training of Charity Trustees

Charity trustees are carefully selected for their suitability. New Charity Trustees will be given information to familiarise themselves with the charity and their role and responsibilities

WESTBOURNE GROVE CHURCH REPORT OF THE TRUSTEES for the year ended 31[st] March 2022

Objects and Activities

The church is a charity and its principal purpose is the advancement of the Christian faith, in accordance with the Statement of Faith as shown at Appendix 2, in the United Kingdom or beyond.

When assessing our activities and achievements, the Charity Trustees have considered the Charity Commission guidance on public benefit, and in particular, the guidance for charities on the advancement of religion.

The Charity Trustees are satisfied that our activities are in furtherance of the objects of the charity and are for the public benefit.

In fulfilling the principal purpose to advance the Christian faith, the church will engage in a range of activities, either on its own or with others including:

Church Vision

Our vision of Christianity is centred not on compliance with religious rules, but on a living, vibrant relationship with God himself. The worship on Sundays is informal and non-liturgical in style, and everyone is encouraged to take an active role in the meeting. Our vision of church is not so much about meetings and programmes, but is seen rather in terms of family and community. As one expression of this, the congregation often shares a meal together after the Sunday morning meeting. Our view of spirituality is not focused on dogma, but on exploration, helping each other on our spiritual journey, so we encourage honest questions and open discussions. We run regular groups for people wanting to find out more about Christianity in a relaxed, unpressurised atmosphere.

Our view is that a relationship with God should show itself outwardly in every aspect of our lives, and will overflow in expressing God’s love to others: many of our members are actively involved in voluntary work, and once a month we offer a free lunch that’s open to all, but especially welcomes poorer and marginalized people.

A key part of our vision is to use our building to bless the local community by making high quality, affordable, and sometimes subsidised spaces available for letting. The aim is to demonstrate the goodness and generosity of God, and to give people who use the building the opportunity to have their pre-conceptions of church challenged, and to build relationships with Christians which we hope will encourage them towards engagement with Jesus Christ.

WESTBOURNE GROVE CHURCH

REPORT OF THE TRUSTEES for the year ended 31[st] March 2022 ( Continued)

Achievements and Performance

The Church does not measure the success of its programmes only in numbers, including financial numbers, but also in less tangible areas like fellowship, spiritual maturity and enhancement of the quality of life in the local community. The Trustees recognise that these are difficult to measure, but believe that this was a positive year in the life of the church, in which the purpose and objectives of the church have been expressed by a number of specific activities:

Significant events of 2021-22: Recovering from Covid Pandemic

The main financial theme for the charity in 2021-22 has been one of recovery following the impact of the Covid pandemic.

Rent from the shop units resumed and included repayment of arrears lifting income from this source to £195,029 compared to £49,388 in 2020-21.

Income from lettings in the building also recovered, up to £101,231 from £10,738 in 2020-21. A significant portion of this relates to income from a five-year letting to Paint Pots, a Montessori nursery school.

The charity received a donation of £30,000 from one of its members.

Overall, the net income in 2021-22 was £140,078 compared to a loss of £137,612 in 2020-21.

Many activities curtailed during the pandemic have restarted and this has increased stress of the staff team that was reduced in response to the pandemic. We will look to recruit additional staff in 2022-23.

Financial Review

The total income for the year was £403,554 and total expenditure on charitable activities amounted to £263,476.

WESTBOURNE GROVE CHURCH

REPORT OF THE TRUSTEES

for the year ended 31[st] March 2022 ( Continued)

Risk Assessment

The Charity Trustees have given consideration to the major risks to which the charity is exposed and are satisfied that there are measures in place designed to mitigate those risks. However, such systems can only provide reasonable and not absolute assurance against errors, fraud, operational failure and the impact of external events.

Reserves Policy

The reserves policy is to aim to a minimum of four months average expenditure in cash and in bank accounts; to hold a minimum of 10 months of average expenditure in cash and in bank accounts, money on 90 days or less notice, and investments; to establish and maintain a sinking fund for larger repairs and maintenance projects, and other needs as may arise.

These reserves are in addition to fixed assets held and used for the church’s aims and purposes.

This level of reserves should ensure that at any time of the year the church is not required to borrow funds on overdraft from its bankers.

Structure, Governance and Management

Governing Document

For the year ended 31[st] March 2021, Westbourne Grove Church was a Charitable Incorporated Organisation and was registered with the Charities Commission as charity number 1168834.

Westbourne Grove Church is governed by Trust Deeds with the London Baptist Property Board dated 1853 and 2004. The Church became registered as a CIO on 19[th] August 2016 (charity number 1168834), and the assets were transferred to the CIO on 1[st] April 2017. The new CIO constitution was signed by the Trustees on 10[th] April 2016.

The Charity Trustees comprise the Elders and Deacons of the church, together with any co-opted Trustees. Charity Trustees are appointed by a vote of no less than two thirds of church members.

Appointment of Trustees

Managing Trustees are carefully selected for their suitability. New Managing Trustees will be given information to familiarise themselves with the charity, and their role and responsibilities.

Approved by the trustees on 10th January 2023 and signed on its behalf by:

C Thackery

…………………………………………….. Trustee

London

WESTBOURNE GROVE CHURCH

APPENDICES

Appendix 1 - Financial Statements: Attached

Appendix 2

BAPTIST UNION DECLARATION OF PRINCIPLE

We follow Jesus, who is revealed in the Bible as God in human form and is the absolute authority in all matters related to faith and practice. Our churches, guided by His Holy Spirit, have the freedom to interpret what He says, and put this into practice in their own words.

Baptism is a necessary step for all who choose to follow Jesus and seek forgiveness for turning away from God. Baptism symbolises forgiveness both by the use of water (which washes) and by the identification with Jesus, who was himself baptised and who, according to the Bible, died for our sins, was buried and rose again

Everyone who follows Jesus is called to play their part in sharing His message.

EVANGELICAL ALLIANCE STATEMENT OF FAITH 2005

We believe in...

  1. The one true God who lives eternally in three persons—the Father, the Son and the Holy Spirit.

  2. The love, grace and sovereignty of God in creating, sustaining, ruling, redeeming and judging the world.

  3. The divine inspiration and supreme authority of the Old and New Testament Scriptures, which are the written Word of God—fully trustworthy for faith and conduct.

  4. The dignity of all people, made male and female in God's image to love, be holy and care for creation, yet corrupted by sin, which incurs divine wrath and judgement.

  5. The incarnation of God’s eternal Son, the Lord Jesus Christ—born of the virgin Mary, truly divine and truly human, yet without sin.

  6. The atoning sacrifice of Christ on the cross: dying in our place, paying the price of sin and defeating evil, so reconciling us with God.

  7. The bodily resurrection of Christ, the first fruit of our resurrection; his ascension to the Father, and his reign and mediation as the only Saviour of the world.

  8. The justification of sinners solely by the grace of God through faith in Christ.

  9. The ministry of God the Holy Spirit, who leads us to repentance, unites us with Christ through new birth, empowers our discipleship and enables our witness.

  10. The Church, the body of Christ both local and universal, the priesthood of all believers—given life by the Spirit and endowed with the Spirit's gifts to worship God and proclaim the gospel, promoting justice and love.

  11. The personal and visible return of Jesus Christ to fulfil the purposes of God, who will raise all people to judgement, bring eternal life to the redeemed and eternal condemnation to the lost, and establish a new heaven and new earth.

WESTBOURNE GROVE CHURCH

INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES

I report to the trustees on my examination of the accounts of Westbourne Grove Church for the year ended 31st March 2022.

Responsibilities and Basis of Report

As the charity’s trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (“the 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 Act.

Independent Examiner’s Statement

Since the charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Association of Chartered Certified Accountants.

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 respect of the charity as required by section 130 of the Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination.

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

A P Williams BSc FCCA A J Carter & Co Chartered Accountants

22b High Street Witney Oxon OX28 6RB

12th January 2023

WESTBOURNE GROVE CHURCH

STATEMENT OF FINANCIAL ACTIVITIES

(including an income and expenditure account) for the year ended 31[st] March 2022

Note
Income from:
Donations and legacies
3
Investments
4
Total incoming resources
Expenditure on:
Charitable activities
5
Total expenditure
Net income/(expenditure) and net
movement in funds for the year
Unrealised gain/(loss) on investments
Transfer between funds
Net movement in funds
Reconciliation of funds
Total funds brought forward
Total funds carried forward		 Unrestricted Restricted
Total
Funds
Funds
Funds
2022
£
£
£
68,999
-
68,999
334,555
-
334,555
403,554
-
403,554
263,476
-
263,476
263,476
-
263,476
140,078
-
140,078
7,049
-
7,049
-
-
-
147,127
-
147,127
477,363
49,063
526,426
£624,490
£49,063
£673,553		 Total
Funds
2021
£
50,605
95,752
146,357
283,069
283,069
(136,712)
39,973
-
(96,739)
623,165
£526,426

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derives from continuing activities.

The notes on pages 9 to 15 form part of these financial statements

WESTBOURNE GROVE CHURCH

BALANCE SHEET as at 31[st] March 2022

Note
Fixed assets
Tangible assets
11
Total fixed assets
Current assets
Debtors
12
Investments
13
Cash at bank and in hand
Total current assets
Liabilities
Creditors falling due within one year
14
Net current assets
Total net assets
15
The funds of the Charity
Restricted income funds
16
Unrestricted income funds
16
Total charity funds		 2022
£
187,641
187,641
19,869
285,363
250,906
556,138
70,226
485,912
673,553
49,063
624,490
£673,553		 2021
£
193,369
193,369
9,126
278,146
101,803
389,075
56,018
333,057
526,426
49,063
477,363
£526,426

These accounts were approved by the trustees and authorised for issue on: 10th January 2023 and are signed on their behalf by:

C Thackery

……………………… Trustee

L Baer

……………………… Trustee

The notes on pages 9 to 15 form part of these financial statements

WESTBOURNE GROVE CHURCH

NOTES TO THE ACCOUNTS

for the year ended 31[st] March 2022

1. Accounting Policies

The principal accounting policies adopted, judgments and key sources of estimation uncertainty in the preparation of the financial statements are as follows:

d) Income Recognition Policies

Items of income are recognised and included in the accounts when all of the following criteria are met:

Income received in advance of a specific performance or provision of other specified service is deferred until the criteria for income recognition are met.

g) Expenditure and Irrecoverable VAT

Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.

WESTBOURNE GROVE CHURCH

NOTES TO THE ACCOUNTS

for the year ended 31[st] March 2022 (continued)

Individual fixed assets costing £1,000 or more are capitalised at cost and are depreciated over their estimated useful economic lives on the straight line basis as follows:

Asset Annual Category Rate Improvements to freehold property Over 50 years

Trade and other debtors are recognised at the settlement amounts due after any trade discount offered. Prepayments are valued at the amount prepaid after taking account of any trade discounts due.

k) Investment Policy

The Church seeks to produce the best financial return within an acceptable level of risk. The investment objectives are:

‐ - secondly, to maximise income generation to support the on going activities of Westbourne Grove Church, as far as is consistent with the first objective.

Attitude to risk

The two main risks are variations in the value of investments, and inflation.

The Church’s policy is to hold a minimum of 50% of its investments in the low- to- medium risk category, and the balance in the medium risk category.

The Church’s policy is that a minimum of 30% of its investments are held in ethical funds.

The Church has appointed a professional investment management firm, St James’s Place, to manage the assets on a discretionary basis, in line with this investment policy. The Trustees have nominated the Chair to coordinate with St James’s Place for day to day management decisions.

The manager will provide the following information on at least an annual basis: valuation of investments, transaction report, cash reconciliation, performance analysis and commentary

The Trustees have responsibility for agreeing strategy and monitoring the investment assets.

The Charity operates a defined contribution scheme, the assets of which are held outside the Charity. The contributions by the Charity in the year are detailed in note 7.

  1. Legal Status of the Charity

Westbourne Grove Church is a registered charity and is governed by Trust Deeds with the London Baptist Board dated 1853 and 2004, and by the Church Constitution as amended on 13[th] December 2009. The Church became registered as a CIO on 19[th] August 2016 (charity number 1168834), and the assets of the charitable trust known as Westbourne Grove Church (registered charity number 1134621) were transferred to the CIO on 1[st] April 2017. The new CIO constitution was signed by the Trustees on 10[th] April 2016.

WESTBOURNE GROVE CHURCH

NOTES TO THE ACCOUNTS

for the year ended 31[st] March 2022 (continued)

3. Income from donations

Gifts and donations 2022
£
68,999
£68,999		 2021
£
50,605
£50,605

4. Income from investments

Manse rental receipts
Church rental receipts
Shop rental
Bank interest		 2022
£
33,600
101,231
195,029
4,695
£334,555		 2021
£
30,710
10,738
49,388
4,916
£95,752

Under the terms of the lease agreement when the leaseholders of the flats above the church do work that enhances the value of the property the church is entitled to 50% of the value of the increase. During the year no such work was undertaken.

5. Analysis of expenditure on charitable activities

Donations:
Salt & Light
Other mission and giving
Tariq
Activities:
Salaries and other staffing expenses
Church running costs
Arts Project
Evangelism, Mission and Ministry
Support Costs:
Outgoings for manse
Car and travel
Building maintenance
Equipment
Depreciation
Service charge
Professional fees
Administration and church running costs
Accountancy
Total		 2022
Total
£
3,000
4,780
1,800
127,122
28,341
1,257
16,482
803
213
4,274
5,981
5,728
10,416
38,678
12,981
1,620
£263,476		 2021
Total
£
-
4,200
1,800
122,606
16,675
603
25,205
4,909
(573)
6,301
822
5,728
23,410
58,949
10,814
1,620
£283,069

Of the £263,476 expenditure in 2022 (2021: £283,069), £263,476 was charged to unrestricted funds (2021: £283,069) and £nil to restricted funds (2021: £nil).

WESTBOURNE GROVE CHURCH

NOTES TO THE ACCOUNTS

for the year ended 31[st] March 2022 (continued)

6. Net income/(expenditure) for the year

This is stated after charging:
Depreciation
Accountancy services
Analysis of staff costs and trustee remuneration and expenses
Church minister
Reception staff
Event staff
Administration
Maintenance
Cleaning
Caretaker
Lettings manager
Finance manager
Employers National Insurance
Pension costs		 2022
£
5,728
1,620
2022
£
41,525
7,464
3,167
19,268
906
11,282
15,631
-
11,475
8,508
7,896
£127,122		 2021
£
5,728
1,620
2021
£
34,561
4,580
-
22,455
560
10,120
11,334
7,124
13,241
9,817
8,814
£122,606
  1. Analysis of staff costs and trustee remuneration and expenses

No employees had emoluments in excess of £60,000 (2021: Nil).

The charity trustees were: Christopher Thackery, Lucy Baer, Rosie Grant, Paul Frith, Hannah James and Andrew Perriman. The Charity Trustees received no remuneration, with the exception of Christopher Thackery £37,235 (2021: £30,699), the Minister and Elder of the Church and Rose-Marie Grant £11,773 (2021: £6,375), as it is the practice in many non-conformist churches for Ministers and Elders to act as ex-officio Charity Trustees.

The total remuneration paid to key management personnel during the year was £20,232 (2021: £19,643).

During the year the Trustee Christopher Thackery received reimbursed expenses totalling £4,896 (2021: £5,574), and Rose-Marie Grant received reimbursed expenses totalling £1,254 (2021: £408).

8. Staff numbers

The average monthly number of employees during the year was as follows:

Number Number
9 12

9. Related party transactions

Two staff members receiving remuneration, Charlotte Thackery and Tamsin Thackery are related to Christopher Thackery.

WESTBOURNE GROVE CHURCH NOTES TO THE ACCOUNTS

for the year ended 31[st] March 2022 (continued)

10. Corporation tax

The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.

11. Tangible fixed assets

Cost:
As at 1 April 2021
Additions
As at 31 March 2022
Depreciation:
As at 1 April 2021
Charge for year
As at 31 March 2022
Net book value:
As at 31 March 2022
As at 31 March 2021
12.Debtors
Gift Aid
Other debtors
13.Current asset investments
Monmouth Building Society
London Baptist Property Bond Deposit Account
St James Palace (at market value)
Virgin Charity Deposit Account		 Church
Building
£
260,585
-		 Manse
Building
£

25,806
-

25,806

8,773

516

9,289

£16,517
£17,033
2022
£
19,540
329
£19,869
2022
£
8,600
49,137
227,412
214
£285,363		 Total
£
286,391
-
260,585 286,391
84,249
5,212		 93,022
5,728
89,461 98,750
£171,124 £187,641
£176,336 £193,369
2021
£
7,632
1,494
£9,126
2021
£
8,573
49,063
220,362
148
£278,146

WESTBOURNE GROVE CHURCH

NOTES TO THE ACCOUNTS

for the year ended 31[st] March 2022 (continued)

14. Creditors: amounts falling due within one year

Accruals
Shop Deposit Held
Other creditors		 2022
£
616
60,180
9,430
£70,226		 2021
£
615
52,183
3,220
£56,018

15. Analysis of net assets between funds

Tangible fixed assets
Cash at bank and in hand
Other net current assets/(liabilities)
Creditors of more than one year
Total		 General
Designated
Restricted
Fund
Funds
Funds
Total
£
£
£
£
187,641
-
-
187,641
250,906
-
-
250,906
185,943
-
49,063
235,006
-
-
-
-
£624,490
£-
£49,063
£673,553

16. Analysis of charitable funds

Analysis of movements in restricted funds

Capital Reserve
Total		 Balance
Incoming
Resources
31.03.21
resources
expended
Transfers
£
£
£
£
49,063
-
-
-
£49,063
£-
£-
£-		 Funds
31.03.22
£
49,063
£49,063

Name of restricted fund Description, nature and purposes of the fund

Capital Reserve

The Capital Reserve Fund is a restricted fund held for the purposes of general capital expenditure on the property and capital equipment within. Advice was taken by the deacons from the London Baptist Property in 2007 who indicated that it would not be considered to be an endowment fund.

WESTBOURNE GROVE CHURCH

NOTES TO THE ACCOUNTS

for the year ended 31[st] March 2022 (continued)

16. Analysis of charitable funds

Analysis of movements in unrestricted funds

General fund
Total		 Balance
Incoming
Resources
31.03.21
resources
expended
Transfers
£
£
£
£
477,363
403,554
(263,476)
-
£477,363
£403,554
£(263,476)
£-		 Unrealised
Funds
Gains
31.03.22
£
£
7,049
624,490
£7,049
£624,490

17. Shop Leases

There are two shop units that are leased by the church.

The larger unit has a 10-year lease commencing on 29[th] July 2020, with a stepped rent of £50,000 from 28[th] July 2021 rising to £116,000 from 29[th] July 2024. There is a review/break at 28[th] July 2025. A rent deposit of £25,000 is held by the London Baptist Property Board.

The smaller shop unit lease is renewable in June 2027 and the annual rent is £90,300. A rent deposit of £27,000 is held by the London Baptist Property Board.