BLOOMSBURY CENTRAL BAPTIST CHURCH 

## FINANCIAL STATEMENTS 

FOR THE YEAR ENDED 

31 MARCH 2025 

CHARITY COMMISSION NUMBER 1174891 



BLOOMSBURY CENTRAL BAPTIST CHURCH
FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 MARCH 2025
Contents
Page
Reference and Administrative Details 1-2
Trustees, Annual Report
Independent Auditor's Report
Statement of Financial Activities
Balance Sheet
Cashflow statement
Notes to the Financial Statements
10
11-23

BLOOMSBURY CENTRAL BAPTIST CHURCH
REFERENCE AND ADMINISTRATIVE DETAILS
Minister
Rev Dr Simon Woodman - Minister
Church Secretary
Nigel Redford
Church Treasurer
Tim Clifford
Elected Deacons
Howard Brown
Fifi Evelyn
Judith Gardiner (from 6.10.24)
Jean Harrison {to 6.10.24)
Udoka Okonkwo
Matthew Streeler
Life Deacons
Brian Bowers (deceased 27.4.24)
Maurice Johns
Church Operations Manager
Abigail Muleta
Church Accountant
Stephen Mortimer
Key Management Personnel
Minister
Secretary and Treasurer
Elected Deacons
Page 1

BLOOMSBURY CENTRAL BAPTIST CHURCH
REFERENCE AND ADMINISTRATIVE DETAILS (continued)
Principal Address
235 Shaftesbury Avenue
London
WC2H 8EP
Bankers
Metro Bank PLC
One Southampton Row
London
WC1B SHA
Auditor
Xeinadin Audit Limited
5 Robin Hood Lane
Sutton
Surrey
SM12SW
Solicitors
Carter Lemon Camerons
20 King Street
London
EC2V 8EG
Legal Status
The church is a Charitable Incorporated Organisation, number
1174891, governed by a constitution.
Page 2

BLOOMSBURY CENTRAL BAPTIST CHURCH
TRUSTEES, ANNUAL REPORT
Structure, governance, and management
The church's name is Bloomsbury Central Baptist Church. The church was first registered as a charity on
9 January 2009, and from that date until 31 March 2018 it was an unincorporated charitable association. On
1 April 2018, the church transferred 311 of its assets, liabilities, and activities to a new Charitable Incorporated
Organisation (CIO), which retained the name Bloomsbury Central Baptist Church and is registered with
charity number 1174891. Incorporation made no substantial difference to the church's assets, liabililies, or
activities, but simplified some aspects of its governance and administration, and gives the trustees the benefit
of limited liability.
Under the church's constitution, ils executive body comprises the Minister, the Church Secretary and the
Church Treasurer, and the elected Deacons; and these people are the charity trustees. The Minister,
Secretary and Treasurer, and elecled Deacons are considered to be the charity's key management personnel
as they are in charge of directing, controlling, running, and operating the church on a day-to-day basis. Apart
from the Ministers, these people give their time freely and receive no remuneration. Ministers are paid a
stipend based on the standard stipend set by the Baptist Union of Great Britain {BUGB), and their pay is
reviewed annually and increased in accordance with the percentage increase in that standard stipend. Details
of Ministers, remuneration, expenses reimbursed to them, and all related party transactions are disclosed in
note 8 to the financial statements. Deacons, and the Secretary and the Treasurer, are elected by the members
of the church at the church's Annual General Meeting.
The church building's freehold is held on trust by The London Baptist Property Board Limited, under a
declaration of trust dated 14th August 2008, with the church having Ihe beneficial ownership of the premises.
The trustees present their annual report for the year ended 31 March 2025 and confirm that the financial
statements have been prepared under the Charities Act 2011 and in accordance with the Charities, Statement
of Recommended Practice (Charities SORP (FRS 102)) and Financial Reporting Standard 102 {FRS 102).
Risk management
The trustees have reviewed the principal risks to which the church is exposed, and have identified appropriate
mitigating measures.
The greatest risk facing the church is that an inability to generate sufficient income, or a reduction in Ihe
number of people committing time to volunlary work for the church, could compromise its ability to deliver
planned activities. The trustees have implemented a new strategy, which is designed to be financially
sustainable and to address staff and volunteer requirements. It also takes account of the changes required
of a Central London church to respond to the consequences of the Covid-19 Pandemic. This strategy will
continue to develop in response to changes in behaviour and needs in Central London.
Objects and activities
The church's aims are..
to maintain and develop the worship life of the church.,
to provide pastoral care for the members, other worshippers, and community.,
to develop the building for the use of the community; and
to develop the ministry to the area.
The activities undertaken to achieve these objects are outlined below.
Page 3

BLOOMSBURY CENTRAL BAPTIST CHURCH
TRUSTEES, ANNUAL REPORT (Continued)
Public benef¢t
When planning the church's activities, the trustees have considered the Charity Commission's guidance on
public benefit.
The church's worship services are open to all and it operates an open communion table. The church building
is available throughout the week for use by or hire to people of all faiths and none, and by bodies both
Christian and secular. The church provides services for local communities and generally ministers to those
in need, without distinction as to faith or otherwise.
The past year and the future
2024-25 has been a year in which the church has continued to seek to develop our relationships with one
another, and with our "neighbours"
the organisations that use our church building. Helped by the Centre
for Theology and Community, the deacons have been exploring this together, and furthering discussions in
our quarterly church meetings. Two things have come out of this.. firstly, Breathing Space. The Breathing
Space group meets once a month for discussion and fellowship, exploring how we encounter God, and how
we can find the place and the language to discuss that together. The group is now looking at ways of
introducing these practices in our weekly worship on Sundays. Secondly, a meeting Meet the Neighbours"
was held where we invited representatives from the various organisations who hold regular meetings and
activities in our building. We spent time learning about our mutual aims and looking at how we can all work
together for the good of the community around us. Future meetings are planned.
We continue to be grateful for the labours of Simon Woodman, our minister, together with Abigail, Church
Operations Manager, Stephen, our Accountant, Philip, our organist, and Paul, our receptionist, who all
contribute to the smooth running of the church, on Sundays and during the week. Behind them stands an
army of volunteers making sure things happen, from manning the sound desk, to making coffees and teas,
to our Safeguarding Team who work hard to ensure the church is a safe place for all. All perform vilal
functions in the body of Christ at Ihis church.
During the year, 2 members joined the church, and four memberships ended. The currenl membership
stands at 102.
We give thanks to our God for sustaining the church, and for the message of love and hope we seek to
proclaim as we provoke faith in the city of London.
Fundraising
In recent years, the church has limited its fund-raising activities to discussions of its finances at meetings of
trustees and of church members. The church does not employ outside or commercial fund-raisers and does
not make appeals for funds beyond its members., it has therefore not subscribed to any fundraising regulator.
Page 4

INDEPENDENT AUDITOR'S REPORTTO THE MEMBERS OF
BLOOMSBURY CENTRAL BAPTIST CHURCH
Opinion
We have audited the financial statements of Bloomsbury Central Baptist Church {Ihe "Charily'l for the year ended 31 March 2025
which comprise the Stslement of Financial Aclivilies, the 88lance Sheet 8nd notes lo the financial slalemenls, including a summary
of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and
United Kingdom Accounting Standards, including Financial Reporting Standard 102.. The Financial Reporting Standard applicable in
the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Praclicel.
In our opinion, the fin8n¢ial slalemenls..
give a true and fair view of the state of the Charity's affairs as at 31 March 2025 and of ils incoming resources and
application of resources for the year then ended.,
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practic8;
have been prepar8d in accordance with the requirements of the Charities Act 2011.
Basls for opinlon
We conducted our audit in accordance with Inlèrnalional Standards on Auditing IUKI IISAS IUKII and applicable law. Our
responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial slalemenls
section of our report. We are independent of the Charity in accordance with the ethical requirements that are relevant lo our audit of
the financial slalemenls in the UK, including the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in
accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a
basis for our opinion.
Conclusions relating to going concern
In auditing the financial slalemenls, we have concluded that the Iruslees. use of the going concern basis of accounting in the
preparation of the financial stsiements is appropriate.
Based on the work we have performed. we have not identified any material uncertainties relating lo events or conditions that.
individually or colleolively, may cast significant doubl on the Ch8rily's ability lo continue as a going concern for a period of al leasl 12
months from when the financial slalemenls are aulhorised for issue.
Our responsibilities and Ihe responsibilities of the Iruslees with respect lo going concem are described in the relevant sections of this
report.
Othèr Informatlon
The other information comprises the information included in the annual report. including the Iruslees, report. other than the financial
slalemenls 8nd our auditor's report Ihereon. The Iruslees are responsible for the other information contained within the annual report.
Our opinion on the financial slalemenls does not cover the other information and, except lo the extent olhenNise explicitly slated in
our report, we do not express any form of assurance conclusion Ihereon.
Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsislenl
with the financial slalemenls or our knowledge obiainerj in the course of the audit, or otherwise appears lo be materially misslaled. If
we identify such material inconsi51encies or apparent material misslalements, we are required lo determine whether thi5 gives rise lo
a material misslalemenl in the financial slalemenls themselves. If, based on the work we have performed, we conclude that there is
a material misslalemenl of this other information, we are required lo report that fact.
We have nothing to report in this regard.
Mattèrs on whi¢h wo are required to report by exception
In the light ol the knowledge and understanding of the Charity and its environment obtained in the course of the audit, we have not
identified material misstatements in the trustees, report.
We have nothing lo report in respect of the following matters in relation lo which the Charities Act 2011 requires us to report to you
if, in our opinion..
adequate and proper accounting records have not been kept, OT returns adequate for our audit have not been received
from branches not visited by us., or
the financial slalemenls are not in agreement with the accounting records and relums-, or
cert2in disclosures of Iruslees, remuneration specified by law are not made. or
we have not received all the information and explanations we require for our audit.
Page 6

BLOOMSBURY CENTRAL BAPTIST CHURCH
TRUSTEES, ANNUAL REPORT (Continued)
Financial Review 2025
The Church has now seen some of the benefits of the difficult decisions made in previous years under its
new strategy. The Church produced an operating surplus on general funds for the year ended 31 March 2025
of £83k, mainly from an increase in renting out the building. This is a satisfactory outcome, Ihough there
continue to be cost pressures, as seen by the increase in expenditure on general fund regular charitable
activities.
The church's non-property investments decreased in value by £33k in the year. Property investments are
deemed unchanged in value.
Main items of improvement & refurbishment on the Church property during the year consisted of paying the
deposits for a major refurbishment of the lift and for a new Sanctuary carpet with both works due to commence
in 2025126. The remaining balance of the Clive Weller Legacy was allocated against the cost of the new
Sanctuary carpet.
Resenies policy
The trustees have previously determined that free reserves should not fall below one year's normal
expenditure. At 31 March 2025, free reserves amounted to £704k which are considered adequate to meet
running costs, and to provide a buffer against future operating deficits. They will also provide funding for future
development of the Church's ministry.
Trustees, responsibilities
The trustees are responsible for preparing the Trustees, Annual Report and the financial statements in
accordance with applicable law and United Kingdom Accounting Standards including financial reporting
standard FRS 102.. The Financial Reporting Standard applicable in the UK and Republic of Ireland (United
Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England and Wales requires the trustees to prepare financial statements
for each financial year which give a true and fair view of the state of affairs of the charity and of the income
and expenditure of the charity for that period. In preparing these financial statements, the trustees are
required to:
select suitable accounting policies and then apply them consistently.
observe the methods and principles in the Charities SORP;
make judgments and estimates that are reasonable and prudent.,
state whether applicable accounting standards have been followed, subject to any materi21 departures
disc5osed and explained in the financial statements; and
prepare the financial statements on the going concern basis unless it is inappropriate to presume that
the charity will continue in business.
The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy
at any time the financial position of the charity and enable them to ensure that the financial statements comply
with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008, and the provisions of the
constitution. They are also responsible for safeguarding the assets of the charity and hence for taking
reasonable steps to prevent and detect fraud and other irregularities.
Approved by the trustees on 2 September 2025 and signed on their behalf by..
Nigel Redford
Church Secretary
Tim Clifford
Church Treasurer
Page 5

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF
BLOOMSBURY CENTRAL BAPTIST CHURCH (continued)
Responsibllities of the trustees
As explained more fully in the Iruslees, responsibilities statement, the Iruslees are responsible for the preparation of the financial
statements and for being satisfied that they give a true and fair view, and for such internal control as they determine is necessary to
enable the preparation of financial statements that are free from material misslalement, whether due lo fraud or error.
In preparing the financial slalemenls, the Iruslees are responsible for assessing the Charity's ability lo continue as a going concern,
disclosing, as applicable, mallers related lo going concern and using the going concern basis of accounting unless the Iruslees either
intend lo liquidate the Charity or lo cease operations, or have no realistic alternative bul lo do so.
Auditor's responsibilities for the audit of the financial statements
We have been appointed as auditor under section 145 and report in accordance with the Acl and relevant regulations made or having
effect Ihereunder.
Our objectives are lo obtain reasonable assurance about whether the financial slalemenls as a whole are free from material
misstatement, whether due lo fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a
high level of assurance, bul is not a guarantee that an audit conducted in accordance with ISAS {UKI will always delecl a material
misslalement when il exists.
Misslalements can arise from fraud or error and are considereé material if, individually or in the aggregate, they could reasonably bo
expected lo influence the economic decisions of users taken on the basis of these financial slalemenls. The exlenl lo which our
procedures are capable of delecling irregularities. including fraud is detailed belc)w'.
Based on our understanding of the charity, we idenlif1ed that the principal risks of non-compliance with laws and regulations related
lo employment and financial reporting legi$181ion and we considered the exlenl lo which non-compliance might have a material effect
on the financial slalemenls. We also considered those laws and regulations Ihal have a direct impact on th8 preparation of the
financial slalemenls such as the Charities Act 2011.
We assessed the susceplibilily of the charity's financial slalemenls lo material misslalemenl. including obtaining an understanding of
how fraud might occur, by making enquiries of management, considering the internal controls in place and discussion amongst the
engagement team.
We determined that the principal risks were related to revenue recognition, management bias in accounting eslimales, presentation
of separately disclosed items and management override of controls.
In response to the risks identified we designed procedures which included. but were not limited lo.. substantive lesling of income,
challenging significant accounting eslimaies, agreeing financial slalemenl disclosures lo undedying supporting documenlalion,
evaluating the inlernal conlrols, reviewing Iruslees minutes, and identifying and lesling joumal entries.
There are inherent limitations in the audit procedures described above. The more removed Ihal laws 8nd regulalions are from financial
Iransaclions, the less likely il is that we would become aware of non-compliance. Material misslalemenls that arise due lo fraud can
be harder lo detect than those that arise from error as they may involve deliberate concealment or collusion.
A further description ol our responsibilities for the audit of the financial slalemenls is located on Ihe Financial Reporting Council's
website al.. www.frc.org.uklaudilorsresponsibilities. This description forms part of our auditor's report.
Use of our report
This report is made 501ely lo the Charity's Iruslees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports)
Regulations 2008. Our audit work has been undertaken so that we might slate to the Charity's trustees those mallers we are required
lo slate lo them in an auditor's report and for no other purpose. To the fullest exlenl permilled by law, we do riot accept or assume
responsibility lo anyone other than the charity and the charity's trustees as a body, for our audit work, for this report, or for the opinions
we have formed.
Y kncL4 F CA￿%￿L)
Xeinadln Audit Limited
Statutory Auditor
Chartered Accountants
5 Robin Hood Lane
Sutton
Surrey
SM1 2SW
Dated= 2¥ September 2025
Xeinadin Audit Limited is eligible for appointment as auditor of the charity by virtue of its eligibility for appointrnenl 8s auditor of a
con?pany undar section 1212 of the Companies Act 2006.
Page 7

I r ry) 17)
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)*

BLOOMSBURY CENTRAL BAPTIST CHURCH
BALANCE SHEET
AS AT 31 MARCH 2025
2025
2024
Note
Fixed assets
Tangible fixed assets
Fixed asset investments
Investment property
778,386
749,787
900,000
769,297
783,003
900,000
2.452,300
12
13
2.428,173
Current assets
Debtors
Investments
Cash at bank
14
15
154,041
1,451,435
121,861
1,727,337
228,420
1,315,396
91,782
1,635,598
Creditors: Amounts falling due
within one year
16
(71,417)
(54,910)
Net current assets
1,655,920
1,580,688
Net assets
17
4,084,093
4,032,988
Funds
Designated
Restricted
General (unrestricted &
undesignated}
18
18
3,351,581
27,732
3,342,492
36,168
654,328
18
704,780
Total funds
4,084,093
4,032,988
Approved by the trustees on 2nd September 2025 and signed on their behalf by..
Tim Clifford Church Treasurer
Pagè 9

BLOOMSBURY CENTRAL BAPTIST CHURCH
CASHFLOW STATEMENT
FOR THE YEAR ENDED 31 MARCH 2025
2025
2024
Cash provided byl{used in)
operating activities (see below)
95,930
(53,9471
Cash flows from investing
activities
Investment income
Purchase of property, plant and
equipment
Purchase of investments
Proceeds on disposal of
investments
Cash (used in) investing
activities
117,817
{47,629)
113,783
(124,732)
(136,039)
{486,303)
130,000
65,851
367,252
Net cash inflowl(oufflow>
30,079
(421,1991
Cash and cash equivalents al 1
April 2024
91,782
512,981
Cash and cash equivalents at
31 March 2025
121,861
91,782
Cash flows from operating
activities
Net income
Investment income
Depreciation
Lossl(gain) on investments
Donation in kind
Decreasel(increase) in debtors
Increase in creditors
Cash provided byl{used in)
operating activities
51,105
(117,817)
38,540
33,216
421,520
(113,783)
7,530
(60,0471
(122,290)
{199,008}
12,131
(53,947)
74,379
16,507
95,930
Page 10

BLOOMSBURY CENTRAL BAPTIST CHURCH
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
ACCOUNTING POLICIES
The principal accounting policies adopted, judgements, and key sources of estimation uncertainty in
the preparation of the financial statements are as follows:
Accounting convention
The financial statements have been prepared under the Charities Act 2011 and in accordance with the
Charilies, Statement of Recommended Practice {Charities SORP (FRS 102) and Financial Reporting
Standard 102 (FRS 102). The financial statements are drawn up on the historical cost basis of
accounting, as modified by the revaluation of fixed asset investments and (when relevant) investment
property. Bloomsbury Central Baptist Church meets the definition of a public benefit entity under FRS
102.
Going concern
At the time of approving the financial statements, the trustees have a reasonable expectation that the
church has adequate resources to continue in operational existence for Ihe foreseeable future. The
trustees therefore continue to adopt the going concern basis of accounting in preparing the financial
statements.
Tangible fixed assets
li) Assets with a purchase price in excess of £500 are capitalised.
{ii) The church purchased the manse in 2013 at a cost of £502,109.
The Irustees believe that the residual value of the property renders any depreciation immaterial,
accordingly, no depreciation has been charged in these accounts.
{iii) Depreciation on capitalised fixed assets other than residential properties is charged al the rate of
10 % for furniture and equipment, 330/0 for computer equipment and 200/0 for expenditure deemed
appropriate on a case-by-case basis, of the purchase price per year.
liv) The church building (valued for insurance purposes at £18,814,460) and the church site are
under the custodian trusteeship of the London Baptist Property Board, and the church is the
beneficial owner. The original costs of these assets, and the costs of subsequent improvements
thereto, are not available. The trustees do not believe the costs of obtaining professional
valuations would be justified by their limited utility to the church's members, who are the principal
users of these accounts. Furthermore, the trustees do not believe that any accumulated
depreciation on the cost of the building would be material.
Fixed asset investments
When any of the church's property is classified as investment property, this is shown at fair value at the
balance sheet date and any accumulated surpluses l (deficiencies) arising from revaluation are treated
as unrealised surpluses l (losses) and credited l {debited} directly to the Generas Reserve. Other
investments are shown at fair value.
Page11

BLOOMSBURY CENTRAL BAPTIST CHURCH
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025 (continued)
ACCOUNTING POLICIES (continued)
General funds
The church's general funds comprise the original capital plus the accumulated net surplus of income
over expenditure, and are available to be used for the church's general purposes.
Designated funds
The balances retained in the designated funds represent..
(i) The Development Fund an amount set aside for future redevelopment, i.e. for substantial work
on the church's building.
(ill The Fixed Asset Reserve equal to the book value of the church's tangible fixed assets at 31
March 2025.
(iii) The Manses Fund - an amount set aside for potential future property needs.
Restricted funds
The restricted funds are made up of a number of funds received for specific purposes.
Income
Voluntary income and donations
including legacies
are accounted for once the church has
entitlement to the income, it is probable that Ihe income will be received, and the amount of income
receivable can be reliably determined.
Lettings income is recognised when the church is entitled to the income.
Donations in kind are recognised at an estimated value of the benefit received.
Voluntary help
The church is heavily dependent on activity carried out by volunteers. No value is attributed to this in
the financial statements.
Expenditure
Expenditure is accrued as soon as a liability is considered probable. Support costs are those costs
incurred directly in support of expenditure on the objects of the charity and include governance costs,
which represent expenditure incurred in ensuring the church complies with its legal and regulatory
requirements.
Grants
Grants are included when the payment has been agreed by the trustees.
Debtors
Tax recoverable and other debtors are included at the settlement amount due. Prepayments are valued
at the amount prepaid.
Page 12

BLOOMSBURY CENTRAL BAPTIST CHURCH
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025 {continued)
ACCOUNTING POLICIES (continued)
Cash and current asset investments
Cash and current asset investments include cash and short term highly liquid investments with a
maturity of one year or less from the date of opening of the deposit.
Creditors and provisions
Creditors and provisions are recognised when the church has a present obligation arising from a past
event which will probably result in the transfer of funds to another party and the amount due to settle
the obligation can be measured or estimated reliably. Creditors and provisions are recognised at their
settlement amount.
Financial instruments
The church has financial assets and liabilities only of a kind that qualify as basic financial instruments.
Basic financial instruments are initially recognised at transaction value and subsequently measured at
their settlement value.
Pension costs
The Church contributes to a defined contribution scheme for Ministers under the Baptist Pension
Scheme, and to a separate scheme for other staff. ContribLStions are recognised when due.
VOLUNTARY INCOME
2025
2024
General
Funds
Restricted
Funds
Total
Total
Standing orders, cash
collections and other voluntary
offerings and donations
124,232
8,166
132,398
138,927
Tax recoverable (Gift Aid)
25,649
3,755
29,404
29,323
Legacies
180,000
149,881
11,921
161,802
348,250
2025
2024
General
Funds
Restricted
Funds
Total
Total
Donations in kind
122,290
Page 13

BLOOMSBURY CENTRAL BAPTIST CHURCH
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025 (continued)
OTHER TRADING ACTIVITIES
2025
2024
Room hire
Other lettings
88,302
134,107
222,409
48,365
127,546
175,911
INVESTMENT INCOME
2025
2024
Rent from investment property
Interest
38,370
79,447
36,900
76,883
117,817
113,783
NET LOSSES ON INVESTMENT PROPERTIES
2025
2024
Loss on sale of former manse
Deficit on revaluation of investment property (note 13)
Total Loss
10,000
10,000
Page 14

BLOOMSBURY CENTRAL BAPTIST CHURCH
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025 {continued)
EXPENDITURE
2025
2024
Activities
undertaken
directly
Grant
funding
Support
costs
Total
Total
Unrestricted funds
Payroll & expenses
102,005
27,621
129,626
144,641
Manses
6,257
6,257
13,083
Church building..
Maintenance & repairs
57,133
57,133
53,624
Cleaning & wasle disposal
40,609
40,609
36,837
Eleclricily, gas, & water
28,695
28,695
14,697
Insurance
18,582
18,582
19,756
Internet & telephone
1,444
1,443
2,887
2,006
Depreciation
19,270
19,270
38,540
7,530
Grants lo Baptist organisalions
(Note 7)
Legal & other professional costs
14,000
14,000
14,500
5,835
5,835
4,519
IT costs and licences
4,523
4,522
9,045
10,624
Websites & publicity
1,972
1,972
3,511
Investment property
12,626
12,626
9,003
Costs of former manse, now sold
17901
17,512
Subscriptions & donations
19,743
19,743
Printing, postage, & stationary
1,025
1,025
1,296
Music-related costs
3,596
3,596
3,162
Conferences and training
Bank charges
Other
3,280
3,280
11,808
1,390
1,390
941
3,695
3,695
3,685
330,290
14,000
54,246
398,536
371,945
Restricted funds- Hardship and
organ
11,357
11,357
20,715
Governance costs
Audit fee
8,220
8,220
6,760
Total expenditure
341,eA7
14,000
62,466
418,113
399,420
Page 15

BLOOMSBURY CENTRAL BAPTIST CHURCH
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025 (continued)
GRANTS PAYABLE
During the year grants for the amounts listed below were payable in furtherance of the church's
objects..
2025
2024
Baptist Union of Great Britain Home Mission Fund
Baptist Missionary Society
Bristol Baptist College
Northern Baptist College
Regent's Park College
Spurgeon's College
South Wales Baptist College
7,300
1,700
1,000
1,000
1,000
1,000
1,000
7,300
1,700
1,100
1,100
1,100
1,100
1,100
14,000
14,500
STAFF AND TRUSTEES
2025
2024
Stipends I
Salaries I
Wages etc
Employer's
National
Insurance
Employer's
pension
Total
Total
Ministers
47,006
570
5,326
52,902
84,173
Employees
69,628
5,445
1,651
76,724
60,468
116,634
6,015
6,977
129,626
144,641
2024:
130,582
6,309
7,750
144,641
The Church contributes to a defined contribution scheme for Ministers under the Baptist Pension
Scheme. Other employees are auto-enrolled wilh NEST Pensions, a defined contribution scheme, with
contributions payable by the church and the employee.
No employee received benefits of more than £60,000.
The average number of employees and full-time equivalent employees during the year was..
2025 No 2025 FTE
2024 No
2024 FTE
Ministers
Employees
Page 16

BLOOMSBURY CENTRAL BAPTIST CHURCH
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025 {continuedl
8 STAFF AND TRUSTEES {continued)
The ministers are trustees of the church and received remuneration as follows, which is permitted
under the terms of the church's constitution..
Stipend
Employer's
Employer's
Pension
Simon Woodman
44,504
5,570
5,326
In addition, the Minister, Simon Woodman, is provided with living accommodation. The Minister
was reimbursed expenses of £2,502 (2023124 £5,017).
The minister represents the key management personnel of the church. No remuneration was
paid to any other trustee during the year nor any person connected to them. In the previous
year £216 was paid to S F Financial Solutions Ltd to assist with accounting. This company is
owned by the daughter of the trustee Howard Brown.
From June 2020, a flat within the church building was let to one of the Deacons, Nigel Redford,
al a current monthly rental of £1,133 (2024.. £1,100 per month)-
Donations totalling £41,995(2024: £51,900) were received from the trustees, their spouses and
other related parties during the year. These were split.. Unrestricted £40,795 (2024.. £40,680)
and restricted £1,200 (2024.. £11,220).
NET INCOME
This is stated after charging:
2025
2024
Deprecialion
Auditor's remuneration for:
38,540
7,530
Audit services
8,220
2,630
6,760
2,198
Other services
Page 17

BLOOMSBURY CENTRAL BAPTIST CHURCH
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025 (continued)
10 ANALYSIS OF TOTAL EXPENDITURE BY FUND TYPE
General
Funds
Designated
Funds
Restricted
Funds
2025
Total
2024
Total
Activities undertaken
directly
Grant funding
Support costs
330,290
11,357
341,647
345,371
14,000
14,000
14,500
54,246
54,246
32,789
Governance costs
8,220
8,220
6,760
406,756
11,357
418,113
399,420
11 TANGIBLE FIXED ASSETS
Residential
Properties
Church
Equipment
Church
Renovations
Total
Cost or valuation
At 1 April 2024
Additions
502,109
271,446
194,021
967,576
7,495
40,134
47,629
Disposals
At 31 March 2025
502,109
278,941
234,155
1,015,205
Accumulated depreciation
At 1 April 2024
Charge for year
198,279
198,279
18,088
20,452
38,540
At 31 March 2025
216,367
20,452
236,819
Net book value
At 31 March 2025
502,109
62,574
213,703
778,386
At 31 March 2024
502,109
73,167
194.021
769,297
Page 18

BLOOMSBURY CENTRAL BAPTIST CHURCH
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025 (continued)
12 FIXED ASSET INVESTMENTS
2025
2024
Fair value at 1 April 2024
Net unrealised (loss)Igain on revaluation
Disposal
783,003
712,956
(33,216)
70,047
Fair value at 31 March 2025
749,787
783,003
COIF Ethical Fund
749,787
783,003
Historical cost at 31 March 2025
450,000
450,000
13 INVESTMENT PROPERTY
2025
2024
Fair value at 1 April 2024
Disposal
Transfer from fixed assets
900,000
910,000
Revaluation in the year
{10,000)
Fair value at 31 March 2025
900,000
900,000
Historical cost
516,482
516,482
The residential property was va5ued at 31 March 2024 by Rapleys, Qualified Surveyors, on a market value
basis of £900,000. On the basis of indicative online valuation, the trustees have concluded that this sum
continues to remain appropriate for the year ended 31 March 2025.
Page 19

BLOOMSBURY CENTRAL BAPTIST CHURCH
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025 {continued)
14 DEBTORS
2025
2024
Tax recoverable (Gift Aid)
Interest receivable
6,799
8,567
9,960
11,199
Room hire income receivable
43,686
7,304
Other debtors and prepayments
93,596
201,350
154,041
228,420
Other debtors include an estimate of funds receivable under the will of a former member, Barbara Collett.
15 CURRENT ASSET INVESTMENTS
2025
2024
Carrying value at 1 April 2024
Additions at cost
1,315,396
959,093
136,039
486,303
Carrying value of disposals
(130,000)
Carrying value at 31 March 2025
1,451,435
1,315,396
COIF Charities Deposit Fund
550,000
450,000
London Baptist Property Board {LBPB) deposit
901,435
865,396
1,451,435
1,315,396
16 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025
2024
Baptist Union of Great Britain Home Mission Fund
Baptist Missionary Society
Ministerial training colleges
Taxation and social security
Other creditors and accruals
7,300
7,634
1,700
1,778
5,000
5,229
4,627
3,471
52,790
36,798
71,417
54,910
Page 20

BLOOMSBURY CENTRAL BAPTIST CHURCH
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025 Icontinuedl
17 ANALYSIS OF NET ASSETS BETWEEN FUNDS
Investment &
net current
assets
31 March 2025
Tangible fixed
assets
Total
Restricted funds
27,732
27,732
Designated funds
General funds
778,386
2,573,195
3,351,581
704,780
704,780
778,386
3,305,707
4,084,093
31 March 2024
Tangible fixed
assets
Investment &
net current
assets
Total
Restricted funds
36,168
36.188
Designated funds
General funds
769,297
2,573,195
3,342,492
654,328
654,328
769,297
3,263,691
4,032,988
Page 21

BLOOMSBURY CENTRAL BAPTIST CHURCH
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025 (continued)
18 FUNDS
Balance
at
1 April
2024
Gainsl
Ilossesl
Transfers
between
funds
Balance at
31 March
2025
Income
Expenditure
Restricted Funds
Clive Weller Legacy
9.000
19.0001
Hardship Fund
15,099
3,217
{1.4361
16.880
Organ Fund
8,947
8,704
19,9211
7,730
Friends of
Bloomsbury
3,122
3,122
36,168
11,921
111,357)
{9,0001
27,732
Designated Funds
Development Fund
573,195
573,195
Manses FLJnd
2,000,000
2,000.000
Fixed Asset Reserve
769,297
9,089
778.386
General Funds
654,328
490.513
1406,7561
133,2161
{891
704.780
Total Funds
4,032,988
502,434
1418,1131
133,2161
4.084,093
Balan¢e at
1 April
2023
Income
Expèndlture
Gainsl
Ilossesl
Transfers
between
funds
Balance at
31 March
2024
Restricted Funds
Clive Weller Legacy
132,074
1123,0741
9,000
Overbury Gift
in kind
122.290
1122,2901
Hardship Fund
10,666
15,211
{10,778}
15,099
Organ Fund
12,257
6,627
19,9371
8,947
Friends of
Bloomsbury
3.122
3,122
158,119
144.128
120,715)
1245,3641
36,168
Designated Funds
Development Fund
573,195
573,195
Manses Fund
2,000,000
2,000,000
Fixed Asset ReseNe
529,805
239,492
769,297
General Funds
2,350,349
616,765
1378,7051
60,047
11,994,128)
654,328
Total Funds
3,611,468
760,893
1399.4201
60.047
4,032,988
Page 22

BLOOMSBURY CENTRAL BAPTIST CHURCH
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025 (continued)
18 FUNDS {continued)
Restricted funds
The Clive Weller Legacy represents funds received under the will of a former member, which are to be used
for the improvement of the Church building. The remaining balance was allocated against the cost of the new
Sanctuary carpet.This fund, having been used for fixed asset expenditure, has now been fully transferred to
the Fixed Asset Reserve (please see below).
The Overbury gift in kind represents works carried out free of charge by the contractor Overbury PLC on the
basement as part of a refurbishment project.
The Hardship Fund holds money given to be spent at the discretion of the church's Ministers to alleviate
hardship.
The Organ Fund holds the accumulated surplus of donations received over costs in connection with the
church's organ concerts since 1 January 2013 and is to be used to meet the costs of future organ concerts
and lo contribute to some other organ-related costs.
The Friends of Bloomsbury represents monies donated by people connected with the Church to be used to
fund events for maintaining these connections.
Designated funds
The Fixed Asset Reserve represents the book value of the church's tangible fixed assets at 31 March 2025
(See note 11).
The transfers into this fund in 2024125 and 2023124 from the Clive Weller Fund and from the Overbury Fund
in 2023124, represent equipment, furniture and building renovations now held within Balance Sheet Tangible
Fixed Assets and subject to depreciation.
The Development Fund represents an amount set aside for future redevelopment - i.e. for substantial work
on the church's building.
The Manses Fund represents retaining value from the sale of a Manse in previous years so as to recognise
that this former asset type may be purchased again to facilitate additions to the Ministerial team as a future
aspiration when circumstances allow.
Page 23