## Woodberry Down Baptist Church CIO Trustee Report 2022 **Reference and Administrative Details** **Charity Registration Number - 1189018** ## **Trustees** Rev Charles Mugenyi Mr Trevor Davis Mrs Jen Jones Mrs Lola Maselino Mr Bryan Sycamore ## **Principal Address** 190 Vartry Road South Tottenham London N15 6HA ## **Property Trustees** The Baptist Union Corporation Limited Baptist House 129 Broadway Didcot Oxfordshire OX11 8RT ## **Independent Examiner** Mr Teshale Joba 39 South Grove London N15 5QG 1 ## **Report** The Trustees present the annual report together with the Receipts and Payments Account for the year ended 31 December 2022. ## **Objectives and aims.** The CIO's aims are to promote the worship of God, according to Baptist principles, in and around the area of Woodberry Down and further afield. The Church may also advance education and other charitable purposes. ## **Public Benefit** The objectives and activities undertaken by the CIO are set with the public benefit in mind. We provide a venue for the worship of Almighty God which is itself beneficial for people's wellbeing and for the Community as a whole. We also provide opportunities for social interaction together with pastoral and practical support to those who need such help. Apart from normal rites of Weddings and Funerals we also arrange Recovery Groups for people suffering from addictions such as drugs, alcohol, and other controlling issues. We also provide meals for the disfranchised groups including the homeless, etc. ## **Achievements and performance** We are pleased that in a very difficult year we were able to open our doors for many support and Recovery groups and each group was attended by about twelve people. We were also able to provide outdoor activities for many teenagers. ## **Financial Review** This has been a challenging year, with a loss and transfer of key members. The charity has experienced a dip in the overall income compared to the previous year from £135,648 to £108,620. However, the total of funds at the year-end in 2022 was higher than the previous year due to lesser spending which helped buffer the dip in weekly donations. Restricted funds however, received a boost due to some big donations which will ensure continuity of our community projects. Our premises in Vartry Road are substantial and were built in 1882 and as such always in need of repair and renovation. The trustees are aware of their responsibilities and regularly review the situation so that the site can continue to be a means of blessing in the future. One of the trustees is the Rev. Charles Mugenyi who also is the Minister of Woodberry Down Baptist Church. The payments shown in the Receipts and Payments Account for Ministry are for his services as the Minister of the Church. He, in common with the other trustees, are not paid any remuneration for their roles of being. ## **Policy on reserves** It is the policy of the Trustees to maintain sufficient funds to enable them to continue and indeed expand the work of the Church. The Trustees consider the current level of reserves to be adequate for this purpose. ## **Structure, governance, and management** Woodberry Down Baptist Church is a Trust, constituted and governed by its Trust Deed and Constitution. These documents are overseen by its Trustees and vetoed by members. New Trustees are appointed by the Church Members as per constitution and at properly convened Church Meeting. 2 ## **Examiners Report: Financial Instruments** ## **Objectives and policies** The charity's activities expose it to some financial risks including credit risk, cash flow risk and liquidity risk. **Credit Risk** - The Charity's principal financial assets are bank balances. The Charity does not have a credit risk as it has no trade receivables. The credit risk on liquid funds and derivative financial instruments is limited because the counterparties are banks with high credit-ratings assigned by international credit-rating agencies. **Cash Flow risk** -The Charity's activities do not expose it to the financial risks as commitment to expenditure is only made when funds are available. **Liquidity risk** - To maintain liquidity, funds are only committed when available. ## **Statement of 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 (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 financial affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to: - select suitable accounting policies and apply them consistently, and observe the methods and principles in the Charities SORP - make judgements and estimates that are reasonable and prudent, - state whether applicable standards have been followed, subject to any departures disclosed and explained in the financial statements; and prepare the accounts on a going concern basis unless it is inappropriate to presume that the charity will continue in business. The trustees are responsible for maintaining proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the accounts comply with the Charities Act 2011, and the provisions of the trust deed. The trustees are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. The Independent Examiner has advised that the accounts for 2022 do not pause any standard risks. ## **Approval** The annual report was approved by the trustees of the charity on and signed on its behalf by: Rev C Mugenyi. Independent Examiner: Teshale Joba, External Examiner and Accountant 3 Woo(IbBry Down Bnpllsl Church Recolpls and Pnymenls Account for Ilie period 1 January lo JI Docombgr 2022 2022 Unroslrlctod Funds Roslflctod Funds Total Fund6 Tdal Funds Incomin resourcès Tithes and Don¢itions Hall Hire Recove Pro (Xher incon)e Totals X.(J77.411 81,745.81) i).IxJ 2(),X75.IXI UIKJ 2U.8 68,742.13 ecis 2C)1175.IX) 53.879.8() 74C).54 13SA6&47 72.7611.41 35JS5L41} Out oin resources Pastorate costs 31.055.(Ki 32.055.( 30,704.54 Aclivib"es in relation trj the workof VVDBC 43.773.5? •7J51.07 71.124.59 62.9)7.13 Totals 75W.58 51.07 103,179.65 5.445 15 93,611.67 41,8i6.80 Nel Incxjmings for the year -3.(M.18 8.￿)1.33 Adjuslmenl to totsl bank balance 19,289.62 O.(K> 19.289.62 BalaTr￿s as at l January 2022 149,496.51 27.848.29 177.344.80 135.488.IX) Balances as at31 DeceM￿r 2022 165,7L* 36J49.62 2021175.57 177J4&80 Assets as at 3V12n022 Ojrrent bank account balance DeF￿51t bank atcourrt balan Total ￿nk balar 169,825.47 32.29110 20207&57 Fixed Assets Church buildir¢ lestimatedl Manse lestirnatedl Other assets Ibased on asset register) 3.CYXJ.¢YJI(KI 450,￿1( 30.78& Approved by Name Designation.. I￿[￿vIc Date.. 2s (08 8oJJ cs Camscanner ## Woodberry Down Baptist Church CIO Trustee Report 2022 **Reference and Administrative Details** **Charity Registration Number - 1189018** ## **Trustees** Rev Charles Mugenyi Mr Trevor Davis Mrs Jen Jones Mrs Lola Maselino Mr Bryan Sycamore ## **Principal Address** 190 Vartry Road South Tottenham London N15 6HA ## **Property Trustees** The Baptist Union Corporation Limited Baptist House 129 Broadway Didcot Oxfordshire OX11 8RT ## **Independent Examiner** Mr Teshale Joba 39 South Grove London N15 5QG 1 ## **Report** The Trustees present the annual report together with the Receipts and Payments Account for the year ended 31 December 2022. ## **Objectives and aims.** The CIO's aims are to promote the worship of God, according to Baptist principles, in and around the area of Woodberry Down and further afield. The Church may also advance education and other charitable purposes. ## **Public Benefit** The objectives and activities undertaken by the CIO are set with the public benefit in mind. We provide a venue for the worship of Almighty God which is itself beneficial for people's wellbeing and for the Community as a whole. We also provide opportunities for social interaction together with pastoral and practical support to those who need such help. Apart from normal rites of Weddings and Funerals we also arrange Recovery Groups for people suffering from addictions such as drugs, alcohol, and other controlling issues. We also provide meals for the disfranchised groups including the homeless, etc. ## **Achievements and performance** We are pleased that in a very difficult year we were able to open our doors for many support and Recovery groups and each group was attended by about twelve people. We were also able to provide outdoor activities for many teenagers. ## **Financial Review** This has been a challenging year, with a loss and transfer of key members. The charity has experienced a dip in the overall income compared to the previous year from £135,648 to £108,620. However, the total of funds at the year-end in 2022 was higher than the previous year due to lesser spending which helped buffer the dip in weekly donations. Restricted funds however, received a boost due to some big donations which will ensure continuity of our community projects. Our premises in Vartry Road are substantial and were built in 1882 and as such always in need of repair and renovation. The trustees are aware of their responsibilities and regularly review the situation so that the site can continue to be a means of blessing in the future. One of the trustees is the Rev. Charles Mugenyi who also is the Minister of Woodberry Down Baptist Church. The payments shown in the Receipts and Payments Account for Ministry are for his services as the Minister of the Church. He, in common with the other trustees, are not paid any remuneration for their roles of being. ## **Policy on reserves** It is the policy of the Trustees to maintain sufficient funds to enable them to continue and indeed expand the work of the Church. The Trustees consider the current level of reserves to be adequate for this purpose. ## **Structure, governance, and management** Woodberry Down Baptist Church is a Trust, constituted and governed by its Trust Deed and Constitution. These documents are overseen by its Trustees and vetoed by members. New Trustees are appointed by the Church Members as per constitution and at properly convened Church Meeting. 2 ## **Examiners Report: Financial Instruments** ## **Objectives and policies** The charity's activities expose it to some financial risks including credit risk, cash flow risk and liquidity risk. **Credit Risk** - The Charity's principal financial assets are bank balances. The Charity does not have a credit risk as it has no trade receivables. The credit risk on liquid funds and derivative financial instruments is limited because the counterparties are banks with high credit-ratings assigned by international credit-rating agencies. **Cash Flow risk** -The Charity's activities do not expose it to the financial risks as commitment to expenditure is only made when funds are available. **Liquidity risk** - To maintain liquidity, funds are only committed when available. ## **Statement of 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 (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 financial affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to: - select suitable accounting policies and apply them consistently, and observe the methods and principles in the Charities SORP - make judgements and estimates that are reasonable and prudent, - state whether applicable standards have been followed, subject to any departures disclosed and explained in the financial statements; and prepare the accounts on a going concern basis unless it is inappropriate to presume that the charity will continue in business. The trustees are responsible for maintaining proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the accounts comply with the Charities Act 2011, and the provisions of the trust deed. The trustees are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. The Independent Examiner has advised that the accounts for 2022 do not pause any standard risks. ## **Approval** The annual report was approved by the trustees of the charity on and signed on its behalf by: Rev C Mugenyi. Independent Examiner: Teshale Joba, External Examiner and Accountant 3