## **LONDON BIBLE CHURCH**
## **Charitable Incorporated Organisation 1192587**
## **Report and Annual Accounts**
**31 December 2021**
## **LONDON BIBLE CHURCH**
## **Report and Financial Statements 2021 Contents**
||**Page**|
|---|---|
|**Legal & Administrative Information**|**2**|
|**Report of the Trustees**|**3**|
|**Independent Examiner's report to the Trustees**|**5**|
|**Receipts and payments account**|**6**|
|**Statement of assets and liabilities**|**7**|
|**Notes to the financial statements**|**8**|
1
## **LONDON BIBLE CHURCH**
## **Legal & Administrative Information For the year ended 31 December 2021**
|**Charity Name**|London Bible Church.||
|---|---|---|
|**Charity Registration**|Registered with the Charity Commission on|30 November 2020 with registration|
||no.1192587.||
|**Governing Document**|Charitable Incorporated Organisation.||
|**Objective**|The advancement of the Christian faith in accordance with the basis of faith, doctrinal||
||distinctives and ethical statements primarily but|not exclusively within London, and the|
||united kingdom; and to further such other purposes as are charitable according to the laws||
||of England and Wales as the trustees in their discretion shall think fit and in accordance||
||with the basis of faith, doctrinal distinctives and ethical statements as may be adopted and||
||amended by the church from time to time in accordance with the provisions of the||
||fellowship guide.||
|**Affiliation**|The Church is a member of the European Baptist|Federation|
|**Principal Address**|ELT Baptist Church, Burdett Road, London E3 4TU||
|**Trustees**|The Trustees who served during the period or who were serving at the date of this report||
||were:||
||Mihail Staucean
Chair||
||Ghenadi Vasiliev||
||Victor Staucean||
||Grigore Platon||
|**Bankers**|Lloyds Bank Plc||
|**Independent**|John Helm ACA||
|**Examiner**|Tandem Accounting||
||17 Heathville Road||
||London N19 3AL||
2
## **LONDON BIBLE CHURCH**
## **Report of the Trustees For the year ended 31 December 2021**
The Trustees submit their report and annual accounts of London Bible Church (“the Church”) for the year ended 31 December 2021. The legal and administrative information set out earlier in this document forms part of this report.
## **1. Structure, Governance & Management**
## **1.1 The Trustees**
The Trustees of the Church are the persons appointed as elders, or elected by the members (if there are insufficient elders), in accordance with the Church Constitution and are responsible for the day to day management of the Church’s business in accordance with the Church’s objects. None of the trustees received remuneration.
The induction process for any newly appointed Trustee comprises an initial meeting with the trustees and receipt of copies of the Church Constitution.
## **1.2 Church Members**
Church members share in the responsibility for the finances, administration, maintenance and activities of the Church and elect the Trustees. Church members meet at least 3 times per annum for business meetings and receive reports from the Trustees.
- Requirements for Church membership are:
1. profession of repentance towards God and faith in our Lord Jesus Christ;
2. baptism;
3. evidence of God’s grace in a consistent Christian life;
4. regular attendance at the Sunday service and midweek home group Bible study and prayer meeting; 5. a desire to participate further in the privileges, obligations and fellowship of the church;
6. acceptance of the Church Statement of Faith and of the Fellowship Guide.
## **1.3 Risk Management**
The Church’s primary concern and objective is the glory of God. Whilst it is the Church’s policy to trust wholly in the Lord that He will work out His purpose to this end, the Church also acknowledges that it has a responsibility, both as individual members and as a body of members, for the proper management of the Church in accordance with applicable laws and accepted good practice and for ensuring that the risks faced by the Church in achieving its primary aim are addressed as best as possible. The trustees believe that, by monitoring reserve levels, by ensuring that controls exist over key financial systems, and by examining the operational risks faced by the church, it has established effective systems and procedures to mitigate those risks.
## **2. Activities & Strategies**
The Church is committed to maintaining a Gospel witness in the Tower Hamlets area of East London but not exclusively.
The Trustees have given due regard to the Charity Commission’s guidance on public benefit. The Trustees believe that the Church provides benefit to the public by:
- providing resources and facilities for public worship, pastoral care and spiritual, moral and educational development, both for the congregation and for anyone else who wishes to benefit from what the Church offers;
- promoting Christian values and service by members of the congregation to the community, for the benefit of individuals and society as a whole.
At the start of the period the Church continued to carry out the following activities, in order to promote the Gospel in the local neighbourhood and fulfil its main objects:. As the coronavirus crisis unfolded, activities were moved online where possible until restrictions were eased.
- Sunday worship services
-
- Prayer meetings and home Bible studies
- Sunday school classes for 4-14 year olds, also crèche for younger children
- Young people’s group for 14-19 year olds once a week
- Russian Language School
3
## **LONDON BIBLE CHURCH**
## **Report of the Trustees For the year ended 31 December 2021**
- Holiday Bible Club and Youth Events in the school summer holiday
- Christmas and Easter outreach services
- Evangelistic events
- Supporting other local evangelical churches
- Ladies monthly meetings
## **3. Financial Review**
## **3.1 Financial Activity and Financial Position**
The Church’s main sources of funding are the free will offerings of church members.
The Receipts & Payments Account and Statement of Assets and Liabilities can be found on pages 6 and 7 respectively. The Church’s cash reserves increased by £23,185 during the year to £68,432 (2020: increased by £8,114 to £45,247).
## **3.2 Reserves Policy**
The Trustees have considered the level of resources they wish to retain, appropriate to the charity’s needs. This is based on the charity’s size and the level of commitments held. The Trustees aim to ensure the charity will be able to continue to fulfil its charitable objectives even if there is a temporary shortfall in income or unexpected expenditure.
## **4. Responsibilities of Trustees for the Financial Statements**
Charity law requires the Trustees to prepare accounts for each accounting year which record the receipts and payments of the charity for the year. The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and enable us to ensure that the financial statements comply with the Charities Act 2011. The Trustees also have a responsibility to safeguard the assets of the charity and to take reasonable steps to prevent fraud or any other irregularities.
## **5. Approval**
The report of the Trustees was approved by the Trustees on 25 October 2022 and signed on its behalf by:
## **Mihail Staucean Trustee**
4
## **LONDON BIBLE CHURCH**
## **Report of the Independent Examiner to the Trustees of London Bible Church**
I report on the financial statements of London Bible Church for the year ended 31 December 2021, set out on pages 6 to 8.
This report is made solely to the Church Trustees in accordance with section 145 of the Charities Act 2011 (the Act). My independent examination has been undertaken so that I might state to the Trustees those matters I am required to state to them in an independent examiner’s report and for no other purpose. To the fullest extent permitted by the law, I do not accept responsibility to anyone other than the Trust and the Trustees for my independent examination, for this report, or the opinions I have formed.
## **RESPECTIVE RESPONSIBILITIES OF TRUSTEES AND EXAMINER**
The Church Trustees consider that an audit is not required for this (under section 144(2) of the Act) and that an independent examination is needed.
It is my responsibility to:
- Examine the accounts (under section 145 of the Act);
- To follow the procedures laid down in the General Direction given by the Charity Commission (under section 145(5)(b) of the Act); and
- To state whether particular matters have come to my attention.
## **BASIS OF INDEPENDENT EXAMINER’S STATEMENT**
My examination was carried out in accordance with General Directions given by the Charity Commissioners. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts and seeking explanations from the Church Trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently I do not express an audit opinion on the accounts.
## **INDEPENDENT EXAMINER’S STATEMENT**
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
1. accounting records were not kept in respect of the church as required by section 130 of the Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair view’ which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
**John Helm ACA** 17 Heathville Road London N19 3AL
25 October 2022
5
## **LONDON BIBLE CHURCH**
## **Receipts & Payments Account For the year ended 31 December 2021**
|**Note**
**Income from:**
2
Donations and legacies
Charitable activities
Other trading activities
**Total Income**
**Expenditure on:**
3
Raising funds
Charitable activities
**Total Expenditure**
**Net income/(expenditure)**
Transfers between funds
Other recognised gains/(losses)
**Net movement in funds**
**Total funds brought forward**
**Total funds carried forward**
|**Unrestricted**
**Funds**
**2021**
**£**
29,586
2,564
130|**Restricted**
**Funds**
**2021**
**£**
-
-
-
**0**
-
-
**0**
**0**
-
-
**0**
**-**
**0**||**Unrestricted**
**Funds**
**2020**
**£**
19,403
2,500
-|
|**Restricted**
**Funds**
**2020**
**£**
-
-
-
**0**
-
-
**0**
**0**
-
-
**0**
**0**|**Total**
**2020**
**£**
19,403
2,500
-|
|---|---|---|---|---|---|---|---|
||||**Total**|||||
||||**2021**|||||
||||**£**|||||
|||||||||
||||29,586|||||
||||2,564|||||
||||130|||||
|||||||||
||**32,280**|||**21,903**|||**21,903**|
||||**32,280**|||||
|||||||||
||-
9,095
**9,095**
**23,185**
-
-
**23,185**
**45,247**
**68,432**|||-
13,789|||-
13,789|
|||||||||
||||-|||||
||||9,095|||||
|||||||||
|||||**13,789**|||**13,789**|
||||**9,095**|||||
|||||||||
|||||**8,114**|||**8,114**|
||||**23,185**|||||
|||||||||
|||||-
-|||-
-|
||||-|||||
||||-|||||
|||||||||
|||||**8,114**
**37,133**|||**8,114**
**37,133**|
||||**23,185**|||||
|||||||||
||||**45,247**|||||
|||||||||
|||||**45,247**|||**45,247**|
||||**68,432**|||||
|||||||||
|||||||||
6
## **LONDON BIBLE CHURCH**
## **Statement of Assets & Liabilities As at 31 December 2021**
|**Note**
**Assets**
Tangible Assets
4
Debtors
Cash At Bank And In Hand
5
**Liabilities**
Independent examination
**Total Assets Less Liabilities**|**Unrestricted**
**Funds**
**2021**
**£**
1,500
-
68,432
68,432
(1,300)
**67,132**|**Restricted**
**Funds**
**2021**
**£**
-
-
-
0
-
**0**||**Total**
**2020**
**£**
-
-
45,247|
|---|---|---|---|---|
||||**Total**||
||||**2021**||
||||**£**||
||||||
||||1,500||
||||-||
||||68,432||
||||||
|||||45,247|
||||||
||||68,432||
||||||
||||||
||||(1,300)||
||||||
|||||**45,247**|
||||**67,132**||
||||||
||||||
The annual accounts were approved by the Trustees on 25 October 2022 and signed on its behalf by:
## **Ghenadi Vasiliev Trustee**
7
## **LONDON BIBLE CHURCH**
## **Notes to the Accounts For the year ended 31 December 2021**
## **1. Basis of Accounting**
The accounts have been prepared on a receipts and payments basis.
## **2. Receipts**
|
**Unrestricted**
**Funds**
**2021**
**£**
Donations and legacies
Offerings and donations
29,586
Gift aid Tax reclaimed
-
29,586
Income from charitable activities
Russian school
2,564
2,564
Other trading activities
Book sales
130
**32,280**|
**Restricted**
**Funds**
**2021**
**£**
-
0
0
-
**0**|||
|---|---|---|---|
|||**Total**|**Total**|
|||**2021**|**2020**|
|||**£**|**£**|
|||||
|||29,586|19,403|
|||-|-|
|||||
|||29,586|19,403|
|||||
|||2,564|2,500|
|||||
|||2,564|2,500|
|||||
|||130|-|
|||||
|||||
|||**32,280**|**21,903**|
|||||
## **3. Payments**
|**3. Payments**|||
|---|---|---|
|
**Unrestricted**
**Funds**
**2021**
**£**
**Restricted**
**Funds**
**2021**
**£**
Church Life & Outreach
3,889
-
Missionary & Charitable Giving
1,977
-
Provision of Office & Support
465
-
Provision of Buildings and Facilities
1,999
-
Governance
765
-
**9,095**
**0**|||
||**Total**|**Total**|
||**2021**|**2020**|
||**£**|**£**|
||||
||3,889|3,715|
||1,977|3,535|
||465|377|
||1,999|5,069|
||765|1,093|
||||
||||
||**9,095**|**13,789**|
||||
||||
## **4. Tangible Fixed Assets**
The church owns equipment. It was purchased for £1,500. All fixed assets are used for direct charitable purposes.
8