ELTHAM PARK BAPTIST CHURCH Charty No 1190789 Annual Report and Financlal Statements For the year ended 31 December 2023 ELThAM PARK BAPTIST CHURCH Contents Page Referen￿ and AdmlnLstrative Deta115 Tnjstees. report statement of Fsnandal Activities Balan￿ Sheet io Not25 lo the Accounts 11-20 lTh£ependent Examlners Rew)rt 21 ELTHAM PARK BAPTIST CHURCH Reference and Admlnlstrative Detalls Charlty Name Eltham Park Baptist Church Charlty Registration Number 1190789 Registered and Admlnlstrative Offlce 32a Westrnount Road London SE9 JJE Trustees Arnold Tarfing Patricia Mary Balley-Barday Alfred Bassah Jlll Rackiey Kathl￿Tr Nobbs Heather Goldsworthy R￿he1 Prfddle Andrew Goldsworthy Bankers Lloyds 83nk PIC 25 Gresham st￿et London EC2V 7HN Independent Examiners Flekl Sullfvan 9 Hare & Billet R be spent but will bring all significant changes before the members of the church for final instruction. Financial Review Review of the churlty'sfinunclolposltlon at the end of the period As at 31 December 2023, the charity had total funds carried forward of £4.186,56512022.. £4,232,026). The funds were represented predominantly by tangible fixed assets, mainly the church building and the Manse occupied by our minister. Of these funds £NII12021- £NIII were restricted and the balance unrestricted. When conslderinE the financial position, the Trustees consider and monitor the cash and bank balances. At the end of the year, bank and cash balances amounted to £162,68612022: £191,223), a reductlon of £28,537 from the balance at the start of the year. The Trustees have concluded that the flnanclal posltion of the charlry at the end of the period wa5 stronÉ with sufficient assets available to support the planned activities in the future. Statement explt7ining thepolicy Aor holding re5ewes stutlny why thEy ure held The charit¢s policy is to hold reserve5 in unrestricted funds sufficient to cover 5 months, expenditure. The main source of income for thè ch8rity is donations from members and others attending the church. The holding of reserve5 at this level enables the charlty to plan actlvities and commit to expendlture In the knowledge that should there be a drop in the level of income, or an unavoidable unplanned expendlture requirement, the ¢harlty has sufficient time to respond wlthout a serious adverse Impact. In applylng this policy, the Trustees exclude Tangible Fixed Assets (which are not readily realisablel. Amount of reserves held At the end of the year the charity held free reserves of £189,49212021: £190,699). Thls was 55gnificantly In excess of the amount requlred to be held under the reseryes policy. The reason that significant excess funds were held is that the charity received a substantial legacy in 2018. The amount of the legacy was £220,165, the legacy included no restrictions as to its use. During 2020 the church members decided to designate two thirds of the money received through the legacy to fund an additional church worker to support the minister, and the remalnlng one third to fund work required on the church property. At the end of the year the balance in the designated funds amour>ted to £114,435, leaving £75,057 within the General Fund. Detulls ofAunds materlally in deficit At the year-end there were no funds materially in deficit. Explt7nation of t7ny uncertolntles about the churity continulng 0$ a golng concern Having considered the financial posltion of the charity at the year end, the monthly accounts prepared for sUb￿qUent periods and the expected activlties over the forthcomlng 12 months, the Trustees have concluded that there is no material uncertainty over the ability of the charity to continue as a going concern. They have therefore prepared the charitls accounts on a going concern basls. Reference and Administrative details Charity name Registered charity number Charity's principal address Eltham PaTk Baptist Church 1190789 32a Westmount Road Eltham London SE9 IJE Names of the charlty trustees who manage the ¢harlty Trustse name Office Ilf any) Dates acted If not for whole year Name of person lor body) entitled to appolnt trustee Ilf an Rev. Lucy Wright Minister To April 2023 To July 2023 Eliham Park Baptist Church members Cherle Rogers Mini5ter-in- Training Patricia Bailey-Barclay Alfred Bassah From Jun 2023 Thoma5 Feasey Andrew Goldsworthy Heather Goldsworthy Kathleen Nobbs To Jun 2023 Treasurer Rachel Priddle Secretary Jill Rackley Arnold Tarling Tracy Thomas From Jun 2023 Declarations The Trustees declare that they have approved the Trustee5' Report ove. Signed on behalf of the charitls trustees on.. by= Signature:. Name.. Positior3'. Rachel Rose Priddle Secretary Andrew Gold Treasurer hy ELTHAM PARK BAPTIST CHURCH STATEMENT OF FINANCIAL AcrIvrriES FOR THE YEAR ENDED 31 DECEMBER 2023 Note Unrestricted Restrlcted Total 2023 Total 2022 Unrestricted Restrlthd Income and endowments from Donations and legacies Investmellt Income 80,786 535 2,830 83,616 535 81,883 115 9,170 91,053 115 Other trading xtivilles Total Inwmé 47,684 129,005 47,684 31,382 t13,380 31,382 122,550 2,830 131,835 9,170 Expenditure Charitsble Activf(ies Mlnlstry Mlsslon 43,299 26.782 43,299 29,612 104,385 177,296 75,772 25,297 105,511 75,772 34,467 105,511 215,750 2,630 9,170 Estrdbli5hrnent 104,385 174,466 Total Expenditure 2,830 206,580 9,170 Net Incolne / (Expenditure) for the v¢ar (45,4611 (45,461) (93,200) (93,2001 other recognlsed galnsl{losses) Actuarial gainsl{lossesl on defined benefit pensions scheme5 14 18,162 18,162 Net MovtmÈnt in Funds 145,461) 145,461) (75,0381 (75,0381 Re¢onciliation of Funds: Total Funds brought foFward Totsl Funds carried forward 4,231026 4,232,026 4,307,064 4,307,064 4,186,565 4,186,565 4,232,026 4,232,026 ELTHAM PARK BAPTIST CHURCH BALANCE SHEEf 31 DECEMBER 2023 Notes 2023 2022 Flxed Assets Tanolble Fixed Assets 3,997,073 3,997,073 4,041,327 4,041,327 Curreht Assets Debtors io 36,421 162,686 199,107 23,894 191,223 Bank and Cash 215,117 Current Liabilit4e5 thditors.. arnounts falling due within one year li (9,615) {24,418) Net Current Assets 189,492 190,699 Total a￿ets les5 current Ilabil￿e5 4,186,565 4,232,026 Total net assets or liaLilitie5 4,186,565 4,232,026 Charity Funds Re5trfcted 12 Unrestrlcted 4,186,565 4,232,026 Total Charity Funds 4,186,565 4,232,026 The notes on pages 11-20 fom) an Integral part of these accounts. These accounts were approved by the Trustees on ..G..•i4.L¥-. QDI<.. and slgned on thelr behalf by Treasurer Deacon QhtyLCL Qc pe(DDLn io ELTHAM PARK BAPTIST CHURCH NOTES TO THE ACCOUNTS YEAR ENDED 31 DECEMBER 2023 I ACCOUNTING POLICIES a Basls of preparatlon The accounts are prepared In accordan￿ with the Charities Statement of Recommended Pracb (Charities SORP 2015), FRS102 and wlth the Charitles Act 2011. E￿haM Park Baptist Churd) meets the definitlon of a public benefit entity under FRS102. Assets and liabilities are initially recognized at historical cost or transaLtion value unless otherwise stated in the relevant accounting policy note& b Income Yecognition All incoming resources are included in the Statement of Financlal Actiwties when the charity Is legally entltled to the Income after any performance conditlons have been met, the amount can be measured reliably and it is probable that the income will be received. c Donations Donations are accounted for gross when received. Fixed asset gifts In kind are recognized when recewable and are included at fair value. d Legacies Legaaes are accounted for at the eadler of the Esiate accounts being finalised and notified and the legacy being received. Investment Income Investment Income Is Induded in the accounts in the year in whlch ￿ is receivable. f Expenditure recognition All expenditure is accounted for on an accruals basls. Expenditu￿ Is recognized where there is a legal or construcbve obligation to make payments to third parties, It Is probable that setdement will be required and the amount of the obligation can be measured reliably. g Costs of raising funds The Church doe5 not make formal appeals for funds, and expenditure on these items Is therefore not material. h Grants payable The Church makes grants to other orgènlsattons whose charitable objecis complen*nt its wod(. They a accounted for when the recipient has been notifled of the grant and payment is uncondltlonal. I Support costs Support costs are those that assist the work of the church but do not dlrecdy reprewt charitable attwities and Include Offi￿ costs and govemance cost. Where support Costs cannot be directly atirlbuted to particular headings they have been allocated to the cost of ralslng funds and expenditure on charitable actlvltles on a basls consistent with the use of resources. This represents dlrect expenditure on the g0Veman￿ of the church. Most of the management is carried out without charge by voluTrteers. Thls intangible cost is not included in the Statement of Flnanclal Activlties Since there is no measurable cost to the volunteers for thelr servlce. li j Fixed Assets Tangible fixed assets are capitrlised if they rAn be used for more than one year and cost at least £1,000. They are Initially recognised at cost or, for donated assets, at a ￿aSOnable estimate of their value on receipt. There 15 nr) reliable infomiation available for the c05t of the churth premises and so on first time adoption of FR5102, the Insuran￿ value used previously was adopted as deemed cost. k Depreclatlon Depreciation is provided on all fixed assets, other than freehold land, to write off the cost on ? strawjht-llne basis over thelr expected useful life, at the following rates: Freehold land Bulldings Furniture and fittlngs loo Computers and equipment 33010 I Investment Assets Investments are initially stated at cost. Sub*quently they are measured at falr value with change5 recognized in the Siatement of Financial Actiwties if the shares are publicly traded or thelr Pair value can otherwise be measured reliably. All other investment assets are shown at cost less impairment. m Funds Unrestritted funds afft avallable for use at the d￿cretion of the trustees in furtheran￿ of the genernl objectives of the charity ond which have not been designated for other purposes. Designated funds comprise unrestricted funds that have ￿en set aside by the tnjstees for specific purposes. The aim and use of each designated fund is set out in the notes to the financial statements. Restricted fiAnds are funds whlch are to be used in acCon1a￿ with spEcific restrictions impjsed by donors or which have been raised by the charity for specific purposes, The cost of raislng and administering such funds are charged agalnst the specific fund. The aim arHI use of each restricted fund Is set out In the notes to the flnancial statements, Endowment fund5 represent those assets which must be held permanently by the charity. Income arislng on the endowment funds be used in accordance with the objects of the charity and is Included a5 unrestricied Income. Any capitsl gain5 or Ios5e5 arising on the investments form part of the fund. Investment management charges and legal advi(È relatlng to the fund are charged agalnst the lund. n Employee benefjts The charlty operates a defined contribution plan for ￿rtain of its employees. A defined contributton plan is a pension plan under which the charity pays fbxed contrtbutions into a separate entity, Once the contributions have been paid the charity has no fijrther payments obligatlons. The contributions are recognlsed as an expense when they are due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the charity in an independenuy administered fund. 12 Donatlons and Legacie5 Unrestricted Restrirted 2023 2022 Donations ar￿ Legacies Offerings 67,121 2,410 69,531 75,235 Tax refunds 11634 420 13,054 15,162 Other don3Uor 1,031 1,031 656 Legades Totèl 80,786 2,830 83.616 91,053 In 2022 £9,J70 of the donation5 andjegocies income ¢vas attributable to Trst17ttedfunds with the re￿ining £81,883belng aitributable to unrestrittedfunds. Investment Income Unrestricted Restricted 2023 2022 Investment Income Interesi reTrived 535 535 115 Totsl 535 535 115 In 2022 8/linvestmentincome was attnbutable to unrestrittedfund5. other trading artivities Vnre5trlrted Restrlcted 2023 2022 Income from other tradlng actlvltlÉ Premises and minibus hire fees 41,197 41,197 27,553 Lunch clLtrb 6,487 6,487 3,829 Total 47,684 47,684 31,382 In 2022 allincome from other trdding athvitles was attrlbutable to unrestrictedfynds. 13 Minlstry Unrestricted Restricted 2023 2022 Mlnlsterfs stipendi pensKJn and FQI Mini51er in Training's sti￿dI penslon and Nl VIs5tSng speakers 11,236 11,236 35,987 16,659 16,659 26,711 720 720 Conferences and training 235 235 267 chU￿h minibJ5 2,235 2,235 1,676 2,206 other mlnistry costs Office stafting Subscrfp￿onS 2,702 2,702 4,720 4,720 3,540 1,653 1,653 1,487 Prlntlngi Postage and stsbontry Indepe￿ent examination L,079 1,079 999 1,860 1,860 Pen4on scheme finance cost 382 Other administrative cost 200 200 157 Total 43,299 43,299 75,772 Mission Unrestrlcted Restrlcted 2023 2022 Grants payable Children and youth work 19,670 2,830 22,500 28,598 2,429 4,552 2,429 2,970 683 Caterlng Costs 4,552 Outreach 131 131 216 Total 26,782 2,830 29,612 34,467 Unrestricted Restricted 2023 2Q22 Grants payable BUGB Home MissK)n 6,000 6,0(X) 7,830 7,800 870 6,000 BMS Wodd M15slon 2,830 10,280 11,690 Other missionarles 7,800 870 Other charitsbte organisatbns Total 628 19,670 2,830 22,500 28,598 14 Establishment Unrestrlcted Restricted 2023 2022 6,337 Man* expen Cleaners 4,368 10,544 1,592 4,811 4,368 10,544 1,592 4,811 20,031 4,457 203 C￿nIng materials Insurance 1,795 4,354 16,715 3,560 192 Ught and heat Rates arNI waste 20,031 4,457 Sundries 203 Telephone and Internet Repa￿rS malntenance Srnall equiprnent Depreciation 812 812 390 10.756 778 10,756 16,294 778 408 46,033 104,385 46,033 104,385 46,018 Total 105,511 staff costs and Trustees expenses 2023 2022 staff costs and Trustees expenses SaMes Gross salary Employerfs national Insuran Etnployerfs wslon contdbutlons Council trdx, water rates etc 39,969 68,109 1,043 6,194 2,929 78,275 Social seojrfty costs Pension costs 594 2,516 other costs 696 Total 43,775 The average number of employees during the year was No employee re￿1Ve￿ emoluments in excess of £60,000 durtng the year. The MlnL8ter, who was In Offi￿ until mid-Aptil 2023, acted as one of the church's trustees in accordance with the Trust Deed and re￿Ived remuneration of £9,855 and other beneflts in respert of her seN1￿5 as Minister, Including the provislon of manse accommodatlon owned by the church. The Minister-Sn-training, who was in Offi￿ until the end of July 2023, acted as one of the church's trustees In accordan￿ with the TrL￿t Deed and received remuneration of £14,931 in respett of her services as Minlster- in-training, £NII In total was ￿1mbUr5ed to the Trustees in respect of expenses incurred as Trustee5 {2022'. £Nill. The Church pays pension contrtbutions for its Minlster and Mlnlster-ln-trainlng to the Defined Contribution Plan within the Baptist Penslon Scheme, whlch Is admlnlstered by the Penslon Trustee, Baptist Pen5Ton Trust Llmlted. Further detalls of the scheme are set out in Note 14 below, 15 9 Tanglble Fixed Assets Chur¢h Premise5 Motor vehicle5 Flxtures, Fittlngs & Equlpment Total Manse Tangible Fixed Assets Cost l January 2023 Addiiion5 DIsp05al 3,903,693 391,257 2,500 49,722 1,779 4,347,172 1,779 3l D￿ernI￿r 2023 3,903,693 391,257 2,500 51,501 4,348,951 Depreciation l January 2023 Charge for the year On dlsposals 234,222 39,037 23,478 3,913 2,340 45,805 3,043 305,845 46,033 31 Decernber 2023 273,259 27,39L 2,380 48,848 351,878 Net book value l January 2023 31 De￿rnber 2023 3,669,471 367,779 363,866 160 3,917 4,041,327 3,997,073 3,630,434 120 2,653 All of the fixed assets are used for dirett charitable purp)se5. 10 Debtors 2023 2022 Accrued Sncome 17,178 19,244 2,208 21,686 Prepayma)t and other debtor5 36,421 23.694 11 Creditors: amounts falllng due within one year 2023 2022 Trade treditors 1,666 576 A(tyuals 7,949 23,842 9.615 24,418 16 12 Restricted Funds Current perlod l January Ii)coming Resources 2023 Resources expended Galns and Transfers IossÈ5 31 December 2023 Unrastricted Funds GeneralFund 4,100,932 129,005 157,807 4,072,130 DeslgnatedFunds Addltlonal worker 86,031 16,659 69,372 45,063 Property 45,063 Restricted Funds BMS Worfd Mis5B)n 2,830 2,830 Romanla other organi5ations Total 4,232,026 131,835 177,296 4,186,565 Prevkous period l January Incoming Resour£ 2022 Resources expended Gains and 7ransfet¥ losses 31 December 2022 Unrestricted Funds Gener4lFund 4,143,326 113.380 173,936 18,162 4,100,932 Deslgnat&dFunds Additional Worker 112,743 50,995 26,712 5,932 86,031 45,063 Property Restricted Funds BMS World Ni5510ll 5,280 3,890 5,280 3,B90 Rornanla other organisations Totsl 4,307,064 122,5 215,750 18,162 4,232,026 Durlng 2020 the church members decided to designate I￿0 thlrds of the money recelved through a legacy in 2018 to fund an additlonal church worker to support the Minister, and the remaining one third to fund work reqUI￿d on the churth property. Durlng 2023, the fund for an additional worker was used to pay the costs of our Minisier-In-Trd5nlng. ND monies were disbursed from the property during the year. During 2023, thè church re￿¢Ve1 money in support of a projert run by BMS World Mission, 17 On cccaslons, the church receNes money in support of other organisation5. Any such amounts are accounted for withln restricted funds. The funds are shown in aggregate above due to the Immatertal amounts invoSved, 13 Analysis of net assets Current period General funds Restrlcted Total Tanglble fixed assets Current assets Current liabilities Penslon liabilities 3,997,073 198,207 (8,715) 3,997,073 199,107 (9,615) 900 (900) Net assets at 31 De￿Inber 2023 4 186 565 4 186 565 Prevlous period General Restrlcted Total 20 Tangible fixed assets Current assets Current liablllues Penslon liabilities 4,041,327 208,087 (17,388) 4,041,327 215,117 (24,418) 7,030 (7,0301 Net assets at 31 December 2022 4 232 Q26 4 232 026 14 Pensions The Church is an partlcipatlng employer in a pension scherne known a5 the Baptist Penslon Scheme C'the Scheme?, which is a separate legal entty administered by the Pension Trustee (Baptist Pension Tnjst Limited). The assets of the Scheme are held separately from those of the Employer and the other participating employers. The Scheme, previously thown as the Baptist Ministers, Pension Fund, started In 1925, but Was dosed to future accrual of defined beneffts on 31 December 2011. Prior to this date the main benefit provided through the Deflned Benefit (DB) Plan was a pension of one elghlieth of final minimum pensionable Income for each year of penslonable Servi￿ together with additional pension In respert of premiums paid Penslonable Income In excess of Minimum Pensionable Income. From January 2012, pension provision is being made through the Defined Contrlbutlon (DC) Plan within the Scheme. In general, members pay 8010 of their Pensionable Income and employers pay 6D/o of members, Penslonable Income into Indlvidual pension accoufits, which are operated and managed on behalf of the Pension Trustee by Broadstone Corporate Benefits Ltd. In additlon, the employer pays a further 4Qh of Penslonable Income to cover Death in Service Benefits, adminlstration costs, and an assoclated insurance policy which provides income protecbon for Scheme members if they are unable to work due to long-temi incapaclty. This income protection policy has been insured by the Baptist Union of Great Britain w￿h Avlva Limited, 18 The Stheme is considered tr) be a multi-employer scheme as described in Section 28 of FRS 102. Because it Is not Possible to attribute the Scheme's assets and Ilabilities to specific employers, the scheme Is accounted for as if the Scheme were a defined contribution scheme. The Minister and the Mlnlster-iri-Training are ellglble to Joln the Sd)erne, Actuarial valuatlon as at 31 December 2019 A formal valuatlon of the Defined Benefit (DB) Plan as at 31 December 2019 was carrled out by a professionally qualified Actuary uslng the Projected Unit Method. At the valuation date the market value of the DB Plan assets was £298 million, whilst the level of assets needed to pay benefits was £316m, glving a deficlt of £18m (equivalent to a past SeN1￿ funding level of 94Wo), The Church and the other participating employers in the DB Plan are collectlve5y responsible for funding this deficlt. The key assumptions underlying the valuation were as follows.. Type of assumption RPI prfce Infiation a￿UMption CPI pri￿ Infiatlon a*urnpUon Minimum Penslonable Income incwse5 Assumed investment returns Prtrretirement Post retirernent Deferred penslon increases Pre-Aprll 2009 Post-April 2009 Pen4on Increases Main scheffle pen5M)n 0/0 P.#. 3.20 2.70 3.20 2.95 1.70 3.20 2.50 2.70 Mortsllty was assumed in accordance with 8086 of the S3NA standard mortality table. Future Improvements projetted from 2013 In Ilne with the"CM12019" projertlon with a long-term rate of improvement of 1.75% p.a, for males and 1.50h p.a. ft)r female5 Wlth the core smoothing parameter and wlth additional inltlal mortality improvement fattor A-0.5%. The next aLtuarial valuabon of the DB Plan wlthin the Scheme was due to take pla￿ not later than as at 31 D￿mber 2022. However, the DB Plan is tr) be wound up, and the process to wind it up was started with effect from 31 March 2024 and therefore no formal valuation 15 due to tske pla￿, 19 Recovery Plan In addition to the contributions to the DC Plan set out above, where a valuation of the DB Plan reveals a deficit the Trustee and the Council agree to a rate of deficlency contributions from churches and other employers involved In the DB Plan. Following the 2019 valuatlon a Recovery Plan was signed in September 2020 under which defidenLy Contributions We￿ payable until June 2026. On 30th June 2022 the Baptist Pension Scheme slgnod an agreement wlth the Insuran￿ company Just Group to secure DB Plan members, pension benefits. Just are now providing financial backing for all pensions provided through the Scheme's DB Plan and, following this transactlon, the Scheme no longer has a shortfall. An updated Recovery pkAn was then signed in August 2022 under which recovery contributions from each participating employer in the DB Plan reduced to £1 per month from August 2022. T￿e contributions are payable under the recovery plan until June 2026. The outstanding deficiency contrlbutlons due under the Recovery Plan are not considered material and therefore have not been included in the balan￿ sheet. Movement In Balance Sheet liability Section 28.IIA of FRS 102 requires agreed deficit recovery payments to be recognised as a liabllity. The movement in the provision Is set out in the table below. 2023 2022 Balan￿ sheet lia￿lty at year stsrt Minus deficiery contrlbutions paid Interesl cost (recognIs￿l In SOFA) Retnaining change to balance Sheet Ikbjllty {rec￿nISed In SOFA) Balan￿ sheet Ilatxlty at year end 20,400 (2,620) 382 (18,162) * Comprises any change in agreed deficit recovery plan and change In assumptiorbs between year-ends. 15 Related Charities The custodian Trustee of the church is the Baptist Union Corporatton Llmited whlchls charity number 249635, and which is controlled by the BaptSst Union Coun(il. The church is also a MeM￿r of the Baptist Union of Great Britsin, and the London Baptist Association. The church made a donation to the Baptist Union Home Misslon Scheme a5 set out In note 6. 20 Independent Examiner's Report to the Trustees of The Eltham Park Baptist Church I report to the trustees on my examinatlon of the flnancial statements of The Eltham Park Baptist Church Cthe charity? for the year ended 31 December 2023 which comprise the Ststement of Financial Artivilies, the Balance Sheet and related notes. This report is made sdely to the charitys trustees, as a body, in accordan￿ wlth sertk)n 145 of the Charitles Att 2011. My work has been undertaken so that I might state to the charity's trustees those matters l am requlred to state to them in this report and for no other purpose. To the fullest extent pemiitted by law, I do not accept or assume responsibility to anyone other than the charity and the charlty's trustees as a body, for my work, for thls report, or for the opinions I have formed. Responsibllltles and basis of report As the tnjstees of the charlty you are responsible for the preparation of the finanoal statements In accordance wlth the requirements of the Charit￿5 Act 2011 Cthe Act?. I report in respect of my examination of the charity's financial statements carried out under section 145 of the Att and in carrying out my examination I have followed all the applicable Directions glven by the Charity Commission under settion 145(5)(b) of the Act. An independent examination does not involve gatherlng all the evidence that would be requlred in an audit and consequenuy does not cover all the matters Ihat an auditor considers In gimng their opinion on the Financial statements. The planning and conduct of an audit goes beyond the limited a5surnnce that an independent examination can provide. COnSeq￿ntIY l express no opinion as to whether the financial ststements present 'true and fairf view and my report is limited to those speclflc matters set out in the independent examinels statement, Independent examlner's statement I have completed my examination. I confirm thèt no material matters hève come to my attention in connection with the examination givlng me cause to believe that In any material respect: accounting recon15 were not kept In re5peLt of the charity as requlred by seLtion 130 of the Act,. or the f4nancial statements do not accord with those records,. or the financial ststements do not comply with the applicable requ1￿ments concerning the form and content of accounts set out In the Charities (Accounts and Reports) RegulatiorkS 2008 other than any requlrement that the accounts glve a 'true and fair view which is not a matter considered as part of an Independent examination. I have no cOn￿mS and have come auoss no other matters In connect¢on wlth the examlnation to which attention should be drawn in this report in order to enable a proper urKlerstanding of the financial statements to be reached, Timothy Sullivar¢ FCA Fleld Sullivan Limited Chartered Accountants 9 Hare and Blllet Rtsad London SE3 ORB Field Sulllvan Limlted Reglstered In England no. 8024052 21