**HEATH STREET BAPTIST CHURCH HAMPSTEAD 84 Heath Street, London, NW3 1DN 020 7431 0511 ewan_king@mac.com www.heathstreet.org Registered charity number: 1178001** # **Report and Accounts for the year ending 31 December 2023** **Minister: Revd Ewan J King Deacons: Annie Fang Sarah Harper Gaynor Humphreys (Treasurer) Wilf Merttens (Secretary)** ## **HEATH STREET BAPTIST CHURCH ANNUAL REPORT AND ACCOUNTS 2023** Heath Street Baptist Church was established as a congregation in 1861 and its building dates from 1862. Governance arrangements were revised in a Charity Commission Scheme sealed on 25 October 1937 and until April 2018 it was an excepted charity. Since 18 April 2018, the Church has been registered with the Charity Commission as a Charitable Incorporated Organisation. The congregation maintains membership of the Baptist Union of Great Britain and the London Baptist Association. ## **Administrative details** ## **Bankers** CAF Bank Ltd 25 Kings Hill Avenue Kings Hill West Malling Kent ME19 4JQ ## **Independent Examiner** Derek John Baker 51 Meadway Southgate London N14 6NJ ## **Solicitor** Carter Lemon Camerons 20 King Street London EC2V 8EG ## **Legal status** Heath Street Baptist Church is a Charitable Incorporated Organisation whose constitution was last amended on 11 July 2021. Charity Registration Number 1178001 ## **Church Safeguarding Officer** Sarah Harper **HEATH STREET BAPTIST CHURCH ANNUAL REPORT AND ACCOUNTS 2023** ## **REPORT OF THE DEACONS** ## **Governance and management** The church operates as a Charitable Incorporated Organisation under the rules of its CIO constitution. At the end of the year there were 33 members of the church: Penny Carnegie and Jessica Xie were accepted into membership during the year by unanimous decision at a general meeting of members. Quarterly church meetings are open to all interested people but on the relatively few occasions when votes are required only members may vote. ## **Objectives and activities** The principal purpose of the CIO is: The advancement of the Christian faith according to the principles of the Baptist denomination. The church may also advance education and carry out other charitable purposes in the UK and/or other parts of the world. ## **Public benefit statement** As a registered charity Heath Street Baptist Church, through its members and its Diaconate, is aware of the Charity Commission’s guidance on public benefit, especially in the advancement of religion. Our services of worship are open to all. We see our building as a valuable resource to the local community and it is open on most days of the week. The church premises are used, or hired, by people of all faiths or none and by both secular and Christian organisations and groups. We provide activities and services directly each week to local children, from babies to young teenagers, and to homeless and vulnerable people. We also offer frequent concerts (normally free entry) to the local community and support a community choir. Pastoral care and support are also offered to all. ## **Financial review** The financial statements which follow show receipts and payments for 2023, investments and reserves balances at the year end and known liabilities for 2024. ## **Financial risks** We undertook some essential repairs to the building during 2023, and we saw the completion of repairs mainly undertaken in 2022 to the stonework façade of the building. A final grant towards this from the Listed Places of Worship Fund (to cover VAT) went towards the remaining 5% of the cost of the main 2022 works. The church made a short term loan to support Mission Housing in the acquisition of a family home for John-Henry Baker and his family within reasonable reach of the church. This loan can be reviewed annually in July and terminated when the Church needs the capital sum. In 2021 we borrowed £500,000 for a ten-year period on a variable interest rate to secure the purchase of a manse for our Minister and his family. The interest rate rose quarterly in 2023 in line with the UK bank rate: we are satisfied that for 2024 we are on track both to repay capital (planned to reduce to zero after ten years) and interest on the remaining sum. Our reserves at the end of 2023 were marginally higher than at the previous year end. Costs, especially of running buildings and keeping them in reasonable condition, rise relentlessly: our accounts show that we are reasonably confident of financial viability for the coming year. Our reserves policy is outlined within the accounts which follow. ## **HEATH STREET BAPTIST CHURCH ANNUAL REPORT AND ACCOUNTS 2023** ## **Secretary’s summary of main activities and achievements in 2023** Heath Street Baptist Church is a welcoming and inclusive community in the heart of Hampstead. 2023 was a year marked by spirited worship, memorable musical experiences, and the addition of new events to our church calendar. Our Sunday morning services remained the focal point of our worship, gathering our diverse community together in fellowship and praise. We were delighted to continue hosting all services in person within the church. Under the leadership of our Minister, Ewan King, our worship services were enriched by the talents of young people, accomplished musicians, the Heath Street Choir, many guest readers, and visiting preachers such as Father John Moffat and Prof. Chris Southgate. Music remained a cornerstone of our shared life and the offering of the church to the wider community. 2023 actually saw some exceptional worship music and special events featuring new Christian music. Many of these were part of the Sunday Sundown Concert series curated by our Music Outreach Officer, John-Henry Baker. Memorable highlights included a concert featuring settings of Julian of Norwich's mystical writings by Danish singer-songwriter Mikael R Andreasen, and a contemplative album of Psalms and sacred songs recorded by UK oboist and composer Rachel Chaplin. The brilliant worship music of Geraldine and Carey Luce added a unique dimension to a service of worship in which Geraldine led the singing with her husband accompanying on the piano. They performed together that evening at Sunday Sundown with an offering of Jazz interpretations of Chopin. Our commitment to community engagement and outreach was evident in the addition of new events to our church calendar. The inaugural 'Saul Drop', a creative interpretation of biblical narratives, offered children a chance to playfully recreate the lowering in a basket of Saul from the walls of Damascus as described in Acts 9, and also mentioned by Paul in his second letter to the Corinthians. Similarly, the second annual Moses and Miriam Boat Race was once again a highlight of our events for children and families, drawing participants of all ages together in celebration and creativity. This year it was held at a park in North Finchley, and the children and teenagers of the church made some beautiful boats to carry the little baby Moses downstream. Both of these events were filmed, with one of our young people, Ilya Ghasempour, creating original music for the resulting videos. We welcomed individuals from diverse backgrounds and ages into our congregation, attempting to foster a sense of belonging and shared mission. Baptisms, applications for membership, and new commitments to the life of the church underscored the growing vitality of the life of God’s church here at Heath Street. The church together celebrated as Zholiet’s son Babak and her daughter Maral were baptised in the church on the Iranian new year, Nowroz. The launch of a fortnightly prayer meeting provided a supportive space for members and attendees to come together in prayer and fellowship. This new ministry was suggested at our church meeting in September, after the diaconate asked members to discuss ministry, historic, current and future. Several members and attendees got together and have set up a fortnightly prayer meeting that takes place in different people’s homes. This has been a very encouraging new ministry for the church and has +cemented the position of some newer attendees. We also continued our journey through Dante's Divine Comedy, led by Minister Ewan King, as part of our digital ministry. This ongoing pilgrimage, conducted over Zoom, offered participants an opportunity for learning and reflection as we explored the redemptive themes of Dante's epic poem. ## **HEATH STREET BAPTIST CHURCH ANNUAL REPORT AND ACCOUNTS 2023** Theresa Thom, Susan Le Quesne and Ewan King continued to represent our church in the Churches Together in Hampstead group. We once again helped run (and participated in) a successful Churches Together Quiz, which took place at Rosslyn Hill Chapel and raised money for a children’s centre down in Camden Town. Heini King was commissioned to do a painting of the church, which she completed; it now hangs in the vestibule. ## **Signed on behalf of the Church’s Trustees** Name Name Date _3/5/24_ Date ## **HEATH STREET BAPTIST CHURCH ANNUAL REPORT AND ACCOUNTS 2023** |**GENERAL CHURCH FUND**
**RECEIPTS**
Weekly offerings, standing orders, Gift Aid refunds
Space hire: community groups & musicians
School rent for "rear rooms" (Note 1)
School's hall hire
Scammell Fund (Note 2)
J Harvey Memorial Fund
COIF Charity Deposit Fund interest
Bank interest
Insurance claims
Sale of piano (Note 3)
Donations
**Total ordinary receipts**
**Payments**
Minister's stipend and on-costs
Manse running costs
Relief ministers' expenses
Music ministry
Children's ministry
Caretaking
Sunday music
Church running costs (heat, light, cleaning, etc)
Church communications (tel., IT, publicity, etc)
Church subscriptions & donations
Church events
Miscellaneous items
Insurance refunds paid out
Governance
Bank charges
**Total ordinary general payments**
Net at 31 December 2023|**2023**
£
13 036
9 947
51 578
47 406
255
13
5 640
43
19 495
0
1 339
**148 752**
30 359
5 556
683
15 995
7 410
7 970
5 885
12 725
5 351
382
5 618
337
19 495
290
60
**118 115**
30 637|**2022**
£
11 822
7 575
0
39 559
247
13
1 350
39
123
10 000
1 393| |---|---|---| |||**72 122**
28 588
6 084
672
14 920
8 682
8 640
4 596
11 547
5 297
395
3 690
237
0
650
87| |||**94 086**
-21 964| Note 1 An adjustment has been made during 2023 to reallocate General Church income shown in 2022 as part of the Property Fund. Income from letting rooms at the rear of the Church basement is now identified as contributing to the Church's General Fund, while income from letting the adjacent building, 84A Heath Street, is allocated to the Property Fund. This year's figures show the correct allocation for 2023 and an adjustment for 2022. There is no change in total income. Our External Examiner is satisfied that this accurately amends an earlier error in presentation. Note 2 Scammell Ministerial Endowment is held in trust by London Baptist Property Board. At 31 December 2023 its value was £4,276 (2022, £4,379). Its income is given to Heath Street for Minister's expenses. Note 3 The Church accepted a generous offer in 2022 to sell our piano and lease an alternative at a peppercorn cost. ## **HEATH STREET BAPTIST CHURCH ANNUAL REPORT AND ACCOUNTS 2023** |**HEATH STREET BAPTIST CHURCH**
**ANNUAL REPORT AND ACCOUNTS 2023**|**HEATH STREET BAPTIST CHURCH**
**ANNUAL REPORT AND ACCOUNTS 2023**|**ST CHURCH**
**COUNTS 2023**|| |---|---|---|---| |**PROPERTY FUND**
**2023**
**2022**
**£**
£
**Receipts**
Rent income (Note 1)
119 164
139 412
Stonework project: donations incl Gift Aid
1 569
32 569
Stonework project: grants received (Note 2)
4 396
31 789
COIF Charity Deposit Fund interest
7 235
2 768
London Baptist Property Board interest
1 585
529
Refund of School insurance premium
2 684
2 468
Insurance claim
1 990
0
Total receipts
**138 624**
**209 534**
**Payments**
Repairs to Church
16 332
7 722
Stonework project incl professional fees
6 019
213 571
Repairs to school building
18 006
0
Manse repairs
1 847
575
Manse sale and purchase (note 3)
0
39 360
Manse loan repayments (note 4)
102 990
56 826
Insurance (Church, manse and school)
10 931
9 372
Insurance refund paid out
1 990
0
Other legal and professional fees
0
0
Total payments
**158 114**
**327 427**
Net at 31 December
-19 490
-117 893
Note 1
See Note 1 on previous page.
Note 2
Grants were received from the Listed Places of Worship Grants Fund for VAT paid on this project.
Note 3
The 2022 figure represents the completion of work to upgrade 63 Agincourt Road, the new manse.
Note 4
The 2022 figure represents four quarters' loan repayment to the London Baptist Property Board and the
first three scheduled repayments of capital to reduce the loan, arranged for £500,000 to assist with
the purchase of Heath Street's new manse, to be repaid in full over ten years. The 2023
figure represents four quarters of capital and loan repayments plus an additional payment of £25,000
capital. Interest rates increased with bank rate in each quarter of 2023||**2023**
**£**
119 164
1 569
4 396
7 235
1 585
2 684
1 990
**138 624**
16 332
6 019
18 006
1 847
0
102 990
10 931
1 990
0|**2022**
£
139 412
32 569
31 789
2 768
529
2 468
0| ||||**209 534**
7 722
213 571
0
575
39 360
56 826
9 372
0
0| ||||| ||||| ## **SPECIAL FUNDS & COLLECTIONS 2023** |**SPECIAL FUNDS & COLLECTIONS 2023**||||||| |---|---|---|---|---|---|---| ||**b/f**||**Income**|**Expenditure**||**Balance**| ||||**£**|**£**||**£**| |**Heath Street Refugee Support**(Note 5)|7|100|2 588|4|408|5 279| |Raising funds to support local families||||||| |**Contact Club**||545|696||274|967| |Funds held||||||| |**Church concerts (Sunday Sundown)**(Note 6)||0|4 561|5|302|-740| |Donations and Gift Aid received||||||| |**Baroquestock**(Note 7)||39|10 590|10|629|0| |Funds raised and used for music events||||||| |**Support for Syria**||0|150||150|0| |Funds raised at a concert in January 2023||||||| |**Hampstead Community Choir**||0|327||327|0| |Proceeds of St Cecilia's Day concert||||||| |**Grand total**|**7**|**683**|**18 913**|**21**|**090**|**5 506**| Note 5 This Fund was established to support refugee families known to the Church. Donations have been made by members of the congregation and other friends of the Church. Note 6 Funds are held for this project which offers food and friendship for homeless and vulnerable people. Volunteers from this Church, St Mary's RC church and others have run this Sunday evening event for decades at Heath Street Baptist Church. Note 7 These figures represent donations by people attending concerts and contributions to musicians. The deficit will be rectified in early 2024 when further settlement of income has taken place. ## **HEATH STREET BAPTIST CHURCH ANNUAL REPORT AND ACCOUNTS 2023** |**STATEMENT OF ASSETS AND LIABILITIES AT 31**|**DECEMBER 2023**||| |---|---|---|---| ||**2023**|**2022**|| |**ASSETS**|£|£|| |Bank balance at year end|24 706|12|321| |Short term deposits|||| |London Baptist Property Board|42 047|40|461| |COIF Charities Deposit Fund income fund|116 500|136|500| |COIF Charities Deposit Fund property fund|100 500|85|500| |Investments|||| |COIF Charities Investment Fund income units|483||442| |(James Harvey Memorial Fund)|||| |COIF Charities Investment Fund income units|69 458|63|612| |(property account) (Note 1)|||| |Loan to Mission Housing (Note 2)|25 000|25|000| |**TOTAL**|378 693|363|837| |**REPRESENTING BALANCES ON THE FOLLOWING ACCOUNTS**|||| |General account|68 566|37|929| |Property account|304 137|317|782| |James Harvey Memorial Fund|483||442| |Special account|5 506|7|684| ||378 693|363|837| Note 1 There was an increase in capital value of £5,845.35 on this Fund in the course of the year, as advised by CCLA and this is reflected above in the Property account Note 2 The sum of £25,000 was lent in 2021 to Mission Housing (a Registered Society under the Co-operative and Community Benefit Society's Act 2014) to assist with the purchase of housing for John-Henry Baker and his family. The loan can be repaid in full to the Church in July 2024 ## **LIABILITIES** As noted on the previous page in Note 3, Heath Street Baptist Church undertook a ten-year loan in 2021 to assist with the purchase of our new manse. The loan was £500,000 and at the end of 2023 the balance owed was £390,214 (at end of 2022, £466,193). At the year end the interest rate was 6.5% (from 2.85% at the start of the loan in 2021). Our buildings are held in trust by the London Baptist Property Board. The Church building is insured for £8,888,320 and the adjacent building for £1,245,540. The manse was purchased in 2021 for £1,646,500. During 2022 the Church had to undertake a project, essential for safety, of renewing the stonework façade of the building. While some work at the lowest level of the building remains to be completed to restore detail and replace some damaged stonework, all the safety work and most of the restoration were completed. Expenditure in 2023 was for the 5% retained for 12 months when the work was finished. A last grant from the Listed Places of Worship fund reimbursed the Church for VAT on that sum. School walkway project: provision is being made in 2024 for work on the south side of the Church building where a walkway providing access to the school building adjacent requires repair for safety and to avoid further deterioration. ## **HEATH STREET BAPTIST CHURCH ANNUAL REPORT AND ACCOUNTS 2023** ## **RESERVES** ## **UNRESTRICTED FUNDS** The Deacons believe that a prudent level of unrestricted reserve should be set at six months of normal running costs, held in the General Church Fund. For 2024 we estimate this at approximately £60,000. ## **RESTRICTED FUNDS** At the end of 2023 the balances held as restricted funds were as follows: **£ Where held** 1 Lift and Access Fund 10 000 Property Fund 2 Organ Fund 920 General Fund 3 Contact Club 967 Special Funds & Collections 4 Refugee Welfare Fund 5 279 Special Funds & Collections 5 Church concerts -740 Special Funds & Collections 5 Special collections 0 Special Funds & Collections **TOTAL 16 426** ## **DESIGNATED FUNDS** At the end of 2023 the balances held as designated funds were as follows: - **£ Where held** - 1 Cyclical maintenance, Church 50 000 Property Fund 2 Cyclical maintenance, School 10 000 Property Fund 3 Cyclical maintenance, Manse 7 500 Property Fund 4 Extraordinary repair fund (all) 100 000 Property Fund 5 Provision for further costs and 0 Property Fund - 5 Provision for further costs and fees for stonework repair - 6 Expected School walkway work 20 000 Property Fund 7 Manse loan repayment (2024) 105 000 Property Fund - **TOTAL 292 500** CHARITY COMMISSION FOR ENGiAND WALES Independent examinerfs report on the accounts Section A Independent Examinerfs Report Report to tho trustses Tk( 8frPYLST CttrulLtrk On accounts for the year ended Charlty no Ilf any) 517%001 Set out on pages ID Ihe p3oe Tri'Tbè'5 ?1 a￿.,00￿￿1 sheet5, I report lo thg trustees on my examinati¢)n ofthe 8Lwunts ofthe above charity rthe Trusf) for the year ended As the charivs tr￿lee$. you aTr responsible forthe preparation of the accounts in accc&dance wilh the requirements of the Charities Act 2011 (Ihe W. I report in respecl of my examination of th8 Trusfs athiunts carried oul under seciion 145 of the 2011 Act and in carrying out my examination, I have follow￿ all the applicable Dire(*ons gNen by the Chaiity Commissbon under section 1445)(b> of the Ad. Independont charity's gross income exceeded £250.000 and l am qualified to examinerfs statement undertake the examination by being a qualrfted member of [Insert nama of applioble listed bodyll. Delete [ l rfnd applitxbfe. I have completed my examination. I confim) that no material matters have come to my attention in connection wth the examination (other than that disdosed below") which gNes me cause to believe that in. any material respect: the accountirvj r￿d$ *ere ncrt kept in a¢￿[da￿a with 8ection 130 of the Chariknes Act" or the accounts did not accord with the accounting records,. or the accounts dKI not compty wrth the applicable requirements conceming the fomi and content of accounts set out in the Charities (Accounts aTrJ Rep￿s) ReguLatior6 2￿8 other than any requirement that the accounts grve a and fairf view whith is not a matter considered as part of an indepeThlent examination. I have no COn￿M$ and have come across no other matters in connection with the examination towhich attention should be drawn in this report in orderto enable a proper understanding of the accounts to be reached. ' Pleas8 delete Ihg in the brnckets Irthay do not apply. Dat•: l3 Re¥ponslbilities and basis of r•port Slgned: Namo: ytC* Ralevant professional quallfi¢ation{s) or body sffjwVA (*er IER Oct 2018