2024-12-31-accounts - London Bible Church

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LONDON BIBLE CHURCH

Charitable Incorporated Organisation: 1192587

Report and Annual Accounts

31 December 2024

LONDON BIBLE CHURCH

Report and Accounts 2024 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 accounts	8

LONDON BIBLE CHURCH

Legal & Administrative Information For the year ended 31 December 2024

Charity Name	London Bible Church.
Charity Registration	Registered with the Charity Commission on	30 November 2023 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
	Ghenadi Vasiliev Chair
	Victor Staucean
	Grigore Platon
Bankers	Lloyds Bank Plc
Independent Examiner	John Helm ACA
	Tandem Accounting
	17 Heathville Road
	London N19 3AL

LONDON BIBLE CHURCH

Report of the Trustees For the year ended 31 December 2024

The Trustees submit their report and annual accounts of the London Bible Church (“the Church”) for the year ended 31 December 2024. 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:

profession of repentance towards God and faith in our Lord Jesus Christ;
baptism;
evidence of God’s grace in a consistent Christian life;
regular attendance at the Sunday service and midweek home group Bible study and prayer meeting;
a desire to participate further in the privileges, obligations and fellowship of the church;
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.

Activities provided by the Church include:

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
Community Language School
Holiday Bible Club and Youth Events in the school summer holiday
Christmas and Easter outreach services
Evangelistic events
Supporting other local evangelical churches

LONDON BIBLE CHURCH

Report of the Trustees For the year ended 31 December 2024

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 £7,696 (2023: £11,839) during the year to £92,439 (2023: £84,743).

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 Accounts

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 Accounts

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 12 August 2025 and signed on its behalf by:

Mihail Staucean Trustee

LONDON BIBLE CHURCH

Report of the Independent Examiner to the Trustees of London Bible Church

I report on the Accounts of London Bible Church for the year ended 31 December 2024, set out on pages 6 to 9.

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:

accounting records were not kept in respect of the church as required by section 130 of the Act; or
the accounts do not accord with those records; or
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

12 August 2025

LONDON BIBLE CHURCH

Receipts & Payments Account For the year ended 31 December 2024

Unrestricted Funds 2024 £ 54,156 17,519 6,230 2,000		Unrestricted Funds 2023 £ 44,600 11,974 4,305 5,000	Total 2023 £ 65,856 12,074 4,305 5,000
	Total
	2024
	£

	71,318
	17,519
	6,230
	2,000

79,905		65,879	87,235
	97,067

- 73,946 73,946 5,959 - 5,959 84,743 90,702		- 54,040	- 75,396

	-
	89,371

		54,040	75,396
	89,371

		11,839	11,839
	7,696

		-	-
	-

		11,839 72,904	11,839 72,904
	7,696

	84,743

		84,743	84,743
	92,439

LONDON BIBLE CHURCH

Statement of Assets & Liabilities As at 31 December 2024

Note Assets Tangible Assets 4 Debtors Cash At Bank And In Hand Liabilities Rent & use of facilities	Unrestricted Funds 2024 £ 1,500 4,500 90,702 96,702 16,338	Restricted Funds 2024 £ - - 1,737 1,737 -		Total 2023 £ 1,500 - 84,743 86,243 7,662
			Total
			2024
			£

			1,500
			4,500
			92,439

			98,439


			16,338
Independent examination	960	-	960	1,000
Total Assets Less Liabilities	17,298 79,404	0 1,737		8,662 77,581
			17,298

			81,141

The annual accounts were approved by the Trustees on 12 August 2025 and signed on its behalf by:

Ghenadi Vasiliev Trustee

LONDON BIBLE CHURCH

Notes to the Accounts For the year ended 31 December 2024

1. Basis of Accounting

The accounts have been prepared on a receipts and payments basis.

2. Receipts

Unrestricted Funds 2024 £ Donations and legacies Offerings and donations 54,156 Gift aid Tax reclaimed - 54,156 Receipts from charitable activities 17,519 Other trading activities Community Language School 4,770 Book sales 1,460 6,230 Other receipts – loan return 2,000 79,905	Restricted Funds 2024 £ 17,162 - 17,162 - - - 0 - 17,162
		Total	Total
		2024	2023
		£	£

		71,318	65,856
		-	-

		71,318	65,856

		17,519	11,386


		4,770	4,305
		1,460	688

		6,230	4,993

		2,000	5,000


		97,067	87,235

3. Payments

Church Life & Outreach Missionary & Charitable Giving Provision of Office & Support Provision of Buildings and Facilities Community Language School Studies Loan provided Governance	Unrestricted Funds 2024 £ Restricted Funds 2024 £ 24,264 - 9,506 15,100 2,400 325 20,344 - 2,073 - 7,727 - 4,500 - 3,132 - 73,946 15,425
		Total	Total
		2024	2023
		£	£

		24,264	22,528
		24,606	31,292
		2,725	1,880
		20,344	17,034
		2,073	778
		7,727	-
		4,500	-
		3,132	1,884


		89,371	75,396

4. Tangible Fixed Assets

The church owns equipment. It was purchased for £1,500. All fixed assets are used for direct charitable purposes.

LONDON BIBLE CHURCH

Notes to the Accounts For the year ended 31 December 2024

5. Movements in funds

At 1 January 2024 £ 84,743 0 0 0 84,743	Payments £ (73,946) (8,765) (6,660) (15,425) (89,371)	Transfers £ - - -	At 31	At 31
			December
				2024
				£

				90,702


				1,734
				3

		0
				1,737

		0
				92,439


At 1 January 2023 £ Receipts £ 72,904 65,879 0 20,286 0 1,070 0 21,356 72,904 87,235	Payments £ (54,040) (20,286) (1,070) (21,356) (75,396)
At 1 January 2023 £ 72,904 0 0 0 72,904		Transfers £ - - -		At 31
			December
				2023
				£

				84,743


				0
				0

		0
				0

		0
				84,743

Description of restricted funds:

Ukraine: funds are used exclusively to support churches and individuals in Ukraine whom we have been assisting since the beginning of the war.

Ivan Korol: funds are used to support pastor Ivan Korol and his family in his ministry.

6. Related Party Transactions

There were no related party transactions.