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2023-12-31-accounts

CRANBROOK BAPTIST CHURCH TRUSTEES' ANNUAL REPORT FOR THE PERIOD FROM 1 JANUARY 2023 TO 31 DECEMBER 2023

Administrative details

Charity Address: Cranbrook Baptist Church, Wellesley Road, Ilford, IG1 4JT Charitable Status: The Church is a Registered Charity, operating as a Charitable Incorporated Organisation. Charity Number: 1193925

Charity Trustees:

Reverend Gilson Gwendu (Minister) Norhann Crowley (Church Security) Mark Durdle Vivienne Francis Charmaine Russell

There was no Treasurer during 2023, the Treasurer’s tasks were shared between the Trustees and Tania Yessa.

Charity's Custodian Trustee: London Baptist Property Board Ltd. which holds the legal title to property of which the Church is the beneficial owner.

Charitable Objective

The principal purpose of the Church is the advancement of the Christian faith according to the principles of the Baptist denomination, including the advancement of education, community service and such other general charitable purposes in such parts of the United Kingdom and the world as the Church shall determine.

Organisational structure and decision-making process

The Church was created under a Trust Deed and operates in accordance with a constitution which was last revised in 2020/2021.

Membership is by acceptance at a church meeting of those applying in accordance with the Church Constitution: on profession of faith in Jesus Christ, followed by baptism where applicable; by a certificate of transfer from another Baptist church; or by an acceptable document of commendation from another Christian body.

The Church Members' Meeting normally takes place six times per year and has responsibility for the overall policy of the Church. In accordance with the Constitution, the Members appoint up to ten Deacons, who together with the Minister are the Trustees of the Church and are responsible for the day to day running of the Church's work and witness and the financial and legal aspects of the charity. The Church Secretary and Treasurer are appointed by the Members from the Deacons. All Members are encouraged to take an appropriate part in the spiritual and practical tasks involved in the furtherance of the charitable objective.

Relevant matters may be submitted to the Church Meeting by the Trustees for guidance or may be raised by Members in Church Meeting for further consideration by the Trustees. Though the constitution permits decisions to be made at Church Meetings by appropriate majorities, the Church seeks to work by consensus wherever possible.

Objectives

In order to achieve the principal objective which is set out above, the Church provides a variety of activities both to its membership and to the community generally. The aim is to show the love of Jesus Christ in both word and deed and to bring people into a closer relationship with Him as living Lord.

Activities

Central to the work and witness of the Church is the provision of regular public services of Christian worship. These services usually take place each Sunday at 10.30am, with Communion twice a month on the first and third Sundays. The church seeks to be a friendly and welcoming community and anybody is free to attend any of these services. The verse for 2023 was taken from Micah 6:8: “He has told you, O man, what is good; and what does the Lord require of you but to do justice, and to love kindness, and to walk humbly with your God?” The year began with a month of Prayer and Fasting in January.

A number of regular activities ran in 2023, including some new ones. These include short 'prayer boost' sessions online on Mondays, a Tuesday Tea and Coffee Club at the Church, a Friday afternoon prayer walk around the local area and a Bible study once a month (with supper).

The Parent/Carer and Toddler Group (Rainbow Toddlers) meets in the Church premises on Friday mornings with the purpose of assisting the community and demonstrating the love of Jesus Christ. The group offers active play, access to a wide range of toys, craft and singing.

Creative Zone for Kids, which runs once a month on a Friday evening (for ages 6-16). Due to demand, this has been increased include teenagers as well. Some of these children participated in the Carol service and the Nativity play. Their participation enabled the parents to attend a church service.

There are also music tuition sessions run on Fridays, open to anyone wanting to learn to plan an instrument. We have seen the youngest member of the group, play in the church and he is now able to play a few songs using his guitar. At present the music lessons are still on going and other people have showed interest in joining the music group.

In July, an International Day was celebrated, with bunting outside the Church and flags of some of the fellowship's countries of origin displayed inside. Participants were encouraged to wear their national dress and to set up a table representing their country. We also made good use of the church garden for a BBQ afterwards.

Something new this year was the two church trips away in June and July. To St Peter’s Chapel and Hever Castle. This was greatly enjoyed by those that went.

In October the church celebrated Revd Jeniya Gwendu’s ordination service, which was attended by people from different churches around the area and the local Major.

The Church has 3 home groups that run during the week; meeting in people’s homes and the church.

Throughout the year, monthly prayer diaries have been produced containing suggestions for prayer topics which all the church can pray about on the same day.

We have a shared lunch on the first Sunday of the month and a church breakfast on the second Sunday. This is normally greatly attended and helps to build community.

Several bazaars were held during the year in the church front garden, allowing conversations with passers-by or those coming in for tea or coffee as well as raising money towards the church and its charitable objectives.

The Church takes the safeguarding of children and adults at risk seriously and undertakes Disclosure and Barring Service checks on people working with these groups.

The Church Trustees have had regard to the guidance issued by the Charity Commission on public benefit and are satisfied that the activities outlined above clearly demonstrate that the charity is providing a benefit to the public.

Chaplaincy

Since the launch of Workplace Chaplaincy, with co-founder Simon Standen from High Road Baptist Church, we have been able to interact with many people in the local area.

For example, in one take away food shop, the lead worker told us that their main problem is the issue of people breaking- in. They have notified the police about these break-ins and the police were not helpful at all even after sending them CCTV, of the break -ins. The guy was arrested but the next day he was seen again at the premises. In such cases we pause and pray for them. There are many different issues that we are told about which take place in these streets. As our motto states we are a listening ear. People are indeed finding someone to share the problems they face.

Workplace Chaplaincy has been well received in the town, despite the low turnout we had during the launch. So far all has been going well.

Achievements and performance

The Church does not measure the success of its programmes only in numbers, including financial numbers, but also in less tangible areas like fellowship and encouragement. The Trustees recognise that these are difficult to measure, but believe that while there were challenges in 2023, it was a good year in the life of the Church with those involved growing in their loving concern for others. The Trustees believe that the Church, will be able to pursue its discipleship and mission purposes in 2024 with enthusiasm.

We received 1 new person into Church membership. Average attendance at Sunday Services does vary a lot . Often getting 60+ when we have a shared meal after the service. At the end of the year the church membership stood at 34.

Financial review

The Church continues to raise the funds which it needs to carry on its activities from within its own membership and congregation and by letting its rooms and flat.

The Church expressed its part in the life of the wider church by contributions to the work of BMS World Mission, the London Baptists' Home Mission Fund, and the Redbridge Christian Education Project - organisations with Christian aims and objectives compatible with the Church's own charitable purpose. As part of its BMS World Mission giving, the Church specifically supports Ben Francis in Calcutta and Dave and Michele Mahon in Peru.

We collected 2 special offerings this year: The Thank Offering was for victims of the earthquake in Turkey and Syria. Plus the Harvest Offering was for a Pastor trying to help his local community in Zambia.

The Church is heavily dependent on its membership working as volunteers in all aspects of the church's activity, many of which run with little or no impact on the church's expenditure, but nevertheless contribute substantially to the achievement of the church's objectives. The financial results for the year, together with a summary of the accounting policies adopted are set out in the accompanying financial statements.

The Trustees have established a Reserves Policy and are satisfied that sufficient reserves exist at the end of the year together with ongoing income anticipated, to enable the Church to function as a CIO effectively in the coming year.

The Trustees have made an assessment of the major risks facing the Church, and are satisfied that there are policies in place to minimise these risks. We believe we have in place sufficient public liability and employer's liability insurance.

Norhann B Crowley – Church Secretary Charmaine Russell - Trustee

INDEPENDENT EXAMINER'S REPORT ON THE ACCOUNTS Report to the trustees and members of Cranbrook Baptlst Church on tho accounts for the year onded 31 Decémber 2023, which are set out on pages 6 to 20. Respectivo responsibllltles of trustèes and examiner The charity's trustees are ￿spOnSible for the preparation of the accounts. The charity's trustees consider that an audil is not required for this year under section 144 of the Charities Act 2011 (the Charities Ad) and that an independent examination is needed. It is my responsibility to: examine the accounts under section 145 of the Charities Act. to follow the procedures laid down in the general Directions given by the Charity Commissioners {under section 145(51(bl of the Charities Act), and to state whether particular matters have come to my attention.. Basls 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 trustees ¢onceming any such matters. The procedures undertaken do nol provide all the eviden￿ that would be required in an audil, and Consequently no opinion is given as to whether the accounts present a 'true and fairf view and the report is limited to those matters set out in the statement below. Independent examlner's statement In connection with my examination, no matter has come to my attention: 1) which gives me reasonable cause to believe that in any material respect the requirements to keep accounting records in accordance with section 130 of the Charitl8s Act., and to prepare accounts which accord v￿th the accounting records and comply with the accounting requirements of the Charities Act have not been met: or 2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the a¢¢ounts to be reached. Signed: Date: E) /E /￿ILl Name.. Professional qualifications (if any) f Cc A Address (J4TEIMI Q & Fe6e,Q4. C05 7JR

CRANBROOK BAPTIST CHURCH, Registered Charity No. 1193925, operating as a Charitable Incorporated Organisation

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2023

Unrestricted Unrestricted Restricted Total Total Funds
general designated funds Funds Restated
funds funds 2023 2022
Note £ £ £ £ £
Income from:
Giving 6 58,813 - 4,757 63,570 57,385
Interest 7 73 899 972 1,265
Lettings 8 20,713 - , 20,713 18,190
Other income 9 43,897 3,054 477 47,428 11,364
Total Income 123,496 3,953 5,234 132,683 88,204
Expenditure on:
Housekeeping 10 25,858 0 0 25,858 21,390
Ministry and mission 11 47,195 0 2,987 50,182 44,439
Fabric costs 12 7,258 0 0 7,258 189,393
Management and
administration		 13 3,516 0 0 3,516 21,284
Total Expenditure 83,827 0 2,987 86,814 276,506
Gains/losses on investment assets 14 269,173 269,173 289,613
Net income/(expenditure) before
transfers 39,669 3,953 271,420 315,042 101,311
Transfers Between funds 24
Other Gains on revaluation of fixed
assets
Net movement in funds 39,669 3,953 271,420 315,042 101,311
Reconciliation of funds
Total funds brought forward at
1 January 2023 102,026 884 3,546,576 3,649,486 3,548,175
Total funds carried forward at
31 December 2023 141,695 4,837 3,817,996 3,964,528 3,649,486

The notes on pages 8 to 21 form part of these accounts.

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BALANCE SHEET AT 31 DECEMBER 2023 BALANCE SHEET AT 31 DECEMBER 2023 BALANCE SHEET AT 31 DECEMBER 2023 BALANCE SHEET AT 31 DECEMBER 2023
Unrestricted Unrestricted Restricted Total Total Funds
General designated funds funds Restated
Funds funds 2023 2023 2022
Note £ £ £ £ £
Fixed Assets
Church premises 14 3,220,936 3,220,936 2,971,344
Other property &
property-related
assets		 15 590,081 590,081 570,500
Furniture &
equipment		 16 0 0
Total fixed assets 0 0 3,811,017 3,811,017 3,541,844
Current Assets
Prepayments 17 0 495
Debtors 18 7,475 0 0 7,475 2,819
Cash at bank - short
term deposits		 19 134,453 4,851 6,394 145,698 108,276
Cash in hand 20 67 -14 585 638 75
Total current assets 141,995 4,837 6,980 153,811 111,665
Amounts falling due within
one year:
Accruals 21 0 0 0 0 1,095
Creditors and
advance receipts		 22 300 0 0 300 2,928
Subtotal 300 0 0 300 4,023
Net current assets 141,695 4,837 6,980 153,511 107,642
Total assets less
current liabilities		 141,695 4,837 3,817,996 3,964,528 3,649,486
Provision for liabilities 23 0 0
Total net assets 141,695 **4,837 ** 3,817,996 3,964,528 3,649,486
**Funds of the church **
Restricted funds 24 3,817,996 3,817,996 3,546,576
Unrestricted general
funds		 24 141,695 141,695 102,026
Unrestricted
designatedfunds		 24 4,837 4,837 884
Total church funds 141,695 4,837 3,817,996 3,964,528 3,649,486
The notes on pages 8 to 21
formpart ofthese accounts.

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NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2023

1. Legal information

Cranbrook Baptist Church (‘the Church’) is a Registered Charity operating as a Charitable Incorporated Organisation (CIO). It was registered on 26 March 2021 with Registered Charity No. 1193925.

Church Address : Cranbrook Baptist Church, Wellesley Road, Ilford, Essex IG1 4JT

Charity Trustees:

Reverend Gilson Gwendu (Minister) Norhann Crowley (Church Security) Mark Durdle Vivienne Francis Charmaine Russell

2. Accounting policies

The accounts have been prepared on an accruals and going concern basis under the historical cost convention. The same accounting policies have been used by the Church (as a CIO). The accounting policies below have been applied consistently in dealing with the items which are considered material in relation to the Church's financial statements.

a) Basis of preparation

The accounts (financial statements) have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) second edition – October 2019 [subsequently referred to as SORP FRS 102] and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011 and UK Generally Accepted Practice as it applies from 1 January 2015.

The accounts (financial statements) have been prepared to give a ‘true and fair’ view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a ‘true and fair view’. This departure has involved following the SORP FRS 102 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.

b) Assessment of going concern

The trustees have no material uncertainties about the Church’s ability to continue as a going concern for at least the next twelve months.

c) Funds structure

The Church holds unrestricted and restricted funds.

4

Unrestricted funds are spent or applied at the discretion of the trustees. The trustees have set apart some of the unrestricted funds as a Designated Building Reserve in anticipation of major building work and refurbishment needed on the church premises.

Restricted funds can only be used for the purpose for which they were given or collected. The Church is the beneficial owner of some property and property-related assets, the legal title of which is held by the Church’s custodian trustee, the London Bapti st Property Board Ltd. These assets cannot be disposed of without the permission of the London Baptist Property Board and then only in accordance with their directions. They are therefore treated as three restricted funds:

In 2023 a number of additional restricted funds were operated as follows:

d) Income recognition

As permitted by paragraph 4.22 of SORP FRS 102, income has been analysed by a natural classification. All income is recognised once the Church has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably. In consequence: gifts and donations have been recognised when actually received during the accounting period: Gift Aid and Gift Aid Small Donation Scheme tax to be recovered, quarterly on calculation of amounts to be claimed; interest when shown on a bank statement; lettings income after the hiring session takes place; income from goods donated for bazaars when items are sold.

e) Expenditure recognition

As permitted by paragraph 4.22 of SORP FRS 102, expenditure has been analysed by a natural classification. Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the Church to that expenditure, it is probable that settlement will be required and the amount of the obligation can be measured reliably.

f) Tangible fixed assets

The Church premises are included in the balance sheet at insurance value because reliable cost information is not available and valuation would incur significant costs which would be onerous compared with the additional benefit gained by the user of the accounts. They are revalued annually in accordance with changes to the insured value.

5

The Church holds insurance for contents at the Church premises but the items covered are not individually identified and it is considered that if individual items were sold off separately they would not realise a material sum.

The manse and the Church’s share of the flat at 75b Auckland Road are included in the balance sheet at a deemed historical cost, that being their fair value as estimated by the trustees at 1 January 2015, the transition date to SORP FRS 102.

The freehold of 75 Auckland Road, Ilford (2 flats) is included in the balance sheet at historical cost, that being its purchase price.

The trustees consider that the land and buildings have an indefinitely long useful life and should not be depreciated.

Expenditure on repairs to the buildings is charged as resources expended in the year incurred as is expenditure on fixtures, furniture and equipment except where furniture or equipment is purchased at a cost of over £500. Furniture and equipment over £500 is depreciated on a straight line basis over three years.

g) Debtors

Debtors are measured at their recoverable amounts i.e. the amount the Church anticipates it will receive from a debt owed to the charity but not received during the accounting period.

h) Prepayments

Prepayments are measured as the amount which the Church has paid in advance for goods or services not used during the accounting period.

i) Creditors and provisions for liabilities

Liabilities are recognised for the amount that the Church anticipates it will pay to settle a debt or the amount it has received as an advance payment for services. The term accruals is used for services which the Church has used but not been invoiced for during the accounting period, the term creditors for invoiced amounts owed by the charity but not paid during the accounting period, and the term advance receipts for amounts received during the accounting period for use in a future period.

Provisions for liabilities arising from legal or constructive obligations are recognised only where there is a present obligation at the reporting date as a result of a past event, it is probable that a transfer of cash will be required in settlement and the amount of the settlement can be estimated reliably but the timing of its settlement is uncertain.

j) Cash at bank

Cash at bank is measured as the amount shown on the bank statement at the end of the accounting period less any cheques issued by the church but not cashed by that date. The CAFbank account, HSBC account and Charity Bank account are immediate access accounts. The Cambridge and Counties and Nationwide accounts were closed with the balance transferred to fund Electrical upgrade.

6

3. Related party transactions and trustee’s expenses and remuneration

a) One trustee, the Minister (appointed 1/2/21), is also an employee and lives in housing of which the church is the beneficial owner (legal title is held by the London Baptist Property Board). The Church paid pension contributions for him to the Baptist Pension Scheme defined contribution scheme. The amounts of these payments are shown in note 11 and further information about the manse is included in notes 12 and 15.

The other trustees all give freely their time and expertise without any form of remuneration or other benefit in cash or kind (2021: £nil) and no expenses were paid to the trustees during the period covered by these accounts (2021: £nil).

c) Apart from the above there were no other related party transactions.

4. Reserves Policy

Unrestricted general funds are needed:

The trustees consider it prudent that unrestricted general reserves should be sufficient to cover at least six months budgeted housekeeping, ministry, administration and normal fabric costs plus currently an amount of around £40,000 towards anticipated major repairs in 2024.

At 31 December 2023 unrestricted general reserves are at about this level. The extent of reserves is monitored and reviewed by the trustees at least once a year.

5. Other information

7

6. Giving

Unrestricted Unrestricted Unrestricted Restricted Total Total Total Total Total Total Total
general designated funds funds funds
funds funds
2023 2023 2023 2023 2022
£ £ £ £ £
Loose
offerings		 18,702 993 19,695 10,530
Gift Aid 29,842 29,842 35,167
Tax recovered
on Gift Aid		 9,313 641 9,954 8,784
Tax recovered
under GASDS		 956 956 1,571
Thank
Offering (exc.
Gift Aid)		 993 993 696
BMS Birthday
Scheme gifts
(exc.
Gift Aid)		 120 120 20
Special
Collections
(not Gift aid)		 560 560 -
Harvest
offering (exc.
Gift Aid)		 - 1,450 1,450 617
58,813 0 4,757 63,570 57,385
a) Gift Aid and tax recovered on restricted funds is split as follows:
Gift Aid £ Tax recovered £
Thank
Offering		 993 248
Harvest
Offering		 1,450 363
BMS Birthday
Scheme		 120 30
2,563 641
b) GASDS = Gift Aid Small Donation Scheme. The figure for Gift aid & GASDS tax
recovered includes accruals for Quarters 2 to 4, received in 2024 as per note 18.

8

7. Interest

Unrestricted Unrestricted Unrestricted Unrestricted Restricted Total Total
general designated funds funds funds
funds funds
2023 2023 2023 2023 2022
£ £ £ £ £
Interest on Main Church Fund 73 73 635
Interest on Designated Building Reserve 899 899 558
Interest on Restricted Building Fund - - 72
73 899 - 972 1,265

8. Lettings income

8. Lettings income
Unrestricted Unrestricted Restricted Total Total
general designated funds funds funds
funds funds
2023 2023 2023 2023 2022
£ £ £ £ £
Rent of church flat 12,605 12,605 13,750
Hall/room lettings 8,058 8,058 4,390
Ground Rent from 75 Auckland Rd 50 50 50
20,713 0 0 20,713 18,190

b) Income from hall/room lettings includes £2,250 from Hope and freedom ministries for use of the church hall. The rest of the lettings income was from one-off short hirings for individual events.

9

9. Other income

Unrestricted Unrestricted Restricted Total Total
general designated funds funds funds
funds funds
2023 2023 2023 2023 2022
£ £ £ £ £
Donations 2,067 2,067 1,004
Bazaars 3,054 3,054 2,122
Bazaar other 30 30
Rainbow Toddlers 477 477 698
Miscellaneous 41,800 41,800 191
Insurance claim 7,349
43,897 3,054 447 47,428 11,364

10. Housekeeping expenditure

Unrestricted Unrestricted Restricted Total Total
general designated funds funds funds
funds funds Restated
2023 2023 2023 2023 2022
£ £ £ £ £
Cleaning 18 18 6
Telephone and
Internet access		 744 744 868
Office
supplies/photocopying		 105 105 250
Household provisions 34 34 483
Subscriptions 574 574 446
Heat & light 16,274 16,274 8,745
Council tax & water
rates		 1,670 1,670 1,236
Minor equipt.
purchase/replacement		 397 397 1,703
Insurance 4,383 4,383 6,643
Waste collections 398 398 439
Catering 713 713 341
Pest control 192 192 192
Miscellaneous 356 356 38
25,858 0 25,858 21,390

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11. Ministry and mission expenditure

Unrestricted Unrestricted Unrestricted Restricted Total Total
general designated funds funds funds
funds funds
2023 2023 2023 2023 2022
£ £ £ £ £
Stipend–G.Gwendu
(Minister)		 26,406 26,406 24,776
Employer's pension
contrib.-G.Gwendu		 3,251 3,251 2,785
Staff expenses–
G.Gwendu		 733 733 876
Minister’s manse
related expenses		 4,313 4,313 2,588
Visiting speakers 201 201 800
Family church &
youth work		 1,578 1,578 13
Local evangelism
projects		 1,075 1,075 553
Training 417 417 420
BMS World Mission 2,430 2,430 2,430
BMS–Ben Francis 1,215 1,215 1,215
BMS–Dave &
Michele Mahon		 1,215 1,215 1,215
BMS Birthday
Scheme payments		 0 45
Home Mission Fund 2,430 2,430 2,430
Christian Education
Project		 1,925 1,925 1,925
Kids Club
expenditure		 6 6 -
Rainbow Toddlers
Expenditure		 544 544 -
Thank Offering 993 993 1,321
Harvest Offering 1,450 1,450 912
Special collections 0 45
Virtual service
software		 0 90
47,195 0 2,987 50,182 44,439

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12. Fabric expenditure

Unrestricted Unrestricted Restricted Total Total
general designated funds funds funds
funds funds
2023 2023 2023 2023 2022
£ £ £ £ £
Church maintenance 4,865 4,865 184,662
Church housing expenses 1,556 1,556 3,977
Heating maintenance 837 837 687
Church Gardens 67
7,258 7,258 189,393

Church maintenance includes structural engineers’ report fee & second half retention releases for a rchitect and consultant’s fee.

Church housing expenditure of £1,556 included a replacement fridge and cooker for the church flat including rewiring costs.

13. Management and administration

Unrestricted Unrestricted Unrestricted Unrestricted Restricted Total Total
general designated funds funds funds
funds funds
2022 2022 2022 2022 2022
£ £ £ £ £
Royalties 558 558 849
TV licence 279
Fire precautions 366 366 581
Landlord's gas certificates 192 192 121
Bank charges 175 175 161
Landlord’s licence for church flat 0
Agency fees for church flat letting 1,322 1,322 1,656
Professional fees re: conversion to CIO 286
Professional fees re: Building works 903 903 17,351
3,516 3,516 21,284

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14. Church premises

The Church is the beneficial owner of the Church premises in Wellesley Road, Ilford, the legal title of which is held by the Church's custodian trustee, the London Baptist Property Board Ltd. In the absence of reliable cost information, the premises are included in the balance sheet at insurance value. The insured value was reviewed in 2015 following a visit from a Baptist Insurance Surveyor, subject to routine increases recommended by Baptist Insurance annually, reviewed again by a Baptist Insurance Surveyor in 2019 and subject to further routine increases recommended by Baptist Insurance since then.

Church premises in
Wellesley Road
£
Insured value at 31/12/21
Revaluation movement 24/06/22		 2,681,732
289,612
Insured value at 31/12/22 2,971,344
Revaluation movement 24/06/23 249,592
Insured value at 31/12/23 3,220,936

15. Other property and property-related assets

The Church is the beneficial owner of the following assets, the legal title of which is held by the Church's custodian trustee, the London Baptist Property Board Ltd.

Cost included in
balance sheet
£
Nature of cost data
Church manse at 225 Balfour
Road, Ilford		 410,000 Trustees’ estimate of ‘deemed
historical cost’at 1/1/15
Revaluation movement 23/06/23
Insured value at 31/12/23		 19,581
429,581
Flat at 75B Auckland Road, Ilford
(There is a third party interest of
31% in this property)		 150,000 69% of trustees’ estimate of
‘deemed historical cost’ at 1/1/15
Freehold of 75 Auckland Road,
Ilford (2 flats)		 10,500 Actual purchase price in 2011
Total 590,081
269,173
Total Value increase (all assets) 269,173

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16. Furniture & equipment

Cost Cost Cost £ £
At 1 January 2023 27,921
+Additions 0
At 31 December 2023 27,921
Accumulated depreciation
At 1 January 2023 27,921
+Charge for year
At 31 December 2023 27,921
Net book value at 31 December 2023 0
at 1 January 2023 0
17. Prepayments
Unrestricted Unrestricted Restricted Total Total
general designated funds funds funds
funds funds Restated
2023 2023 2023 2023 2022
£ £ £ £ £
Insurance
Royalties and licences
Manse council tax 494
Waste collections
Website hosting
Virtual service software
Church council tax
0 0 0 494

18. Debtors

Unrestricted Unrestricted Restricted Total Total
general designated funds funds funds
funds funds
2023 2023 2023 2023 2022
£ £ £ £ £
Tax to be recoveredunderGASDS 1,931 1,931 853
Tax to be recovered on Gift Aid 5,544 5,544 1,965
Refund on church flat council tax 0 0
Refund re: electric meter works 0 0
7,475 7,475 2,819

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19. Cash at bank – short term deposits

CAF Bank account
HSBC Account
Charity Bank		 Unrestricted
Unrestricted Restricted
Total
Total
general
designated
funds
funds
funds
funds
funds
2023
2023
2023
2023
2022
£
£
£
£
£
65,690
-28,055
1,832
39,467
41,506
32,055
872
4,497
37,424
30,061
36,708
32,034
65
68,807
36,709
134,453
4,851
6,394
145,698
108,276

20. Cash in hand

Petty Cash (including cheques in
hand)
1. Accruals
Christian education project
LBA Home Mission (Q4)		 Unrestricted
Unrestricted Restricted
Total
Total
general
designated
funds
funds
funds
funds
funds
2023
2023
2023
2023
2022
£
£
£
£
£

67
-14
585
638
75
67
-14
585
638
75
Unrestricted
Unrestricted
Restricted
Total
Total
general
designated
funds
funds
funds
funds
funds
2023
2023
2023
2023
2022
£
£
£
£
£
485
610
-
-
-
- 1,095

21. Accruals

22. Creditors and advance receipts

Heat & light
Deposits on car park remote
controls		 Unrestricted
Unrestricted
Restricted
Total
Total
general
designated
funds
funds
funds
funds
funds
2023
2023
2023
2023
2022
£
£
£
£
£
0
2,627
300
300
300
300
0
0
300
2,927

15

23. Provision for liabilities

No provision for liabilities was necessary at 31 December 2023 (31 December 2022, nil).

16

24. Movement in Funds

Fund Fund
Balances Movement in resources Balances
brought forward
restated		 Transfers Gains carried
forward
1 Jan 23 Incoming Outgoing In (out) (losses) 2023
£ £ £ £ £ £
Unrestricted general funds
MainChurch Fund 102,026 124,151 84,482 141,695
Unrestricted designatedfunds
Designated
BuildingReserve		 884 3,953 4,837
Restrictedfunds
Churchpremises 2,971,344 249,592 3,220,936
Church manse 410,000 19,581 429,581
75b Auckland
Rd+75 freehold		 160,500 160,500
Thank Offering
2023		 0 1,992 637 1,355
Harvest Offering
2023		 255 1,430 1,450 235
Restricted Building
Fund		 65 65
BMS Birthday
Scheme		 0 120 120
Special collections 0 560 560
Special Pastoral
Fund		 698 699
Rainbow Toddlers 2,695 478 244 2,927
Other youth
activities		 1,019 1,019
3,649,486 132,683 86,814 0 269,173 3,964,528

a) There were no transfers between restricted and unrestricted funds during 2023.

b) Rainbow Toddlers made a contribution towards heat and light during 2023 reducing the H&L costs of the church.

17

25. Comparative figures for 2022

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2022

Unrestricted Unrestricted Restricted Total Total
general designated funds Funds funds
funds funds 2022 2021
Note £ £ £ £ £
Income from:
Giving 6 54,852 2,533 57,385 57,091
Interest 7 635 558 72 1,265 1,088
Lettings 8 18,190 18,190 3,961
Other income 9 8,244 2,122 998 11,364 4,082
Total Income 81,921 2,680 3,603 88,204 66,222
Expenditure on:
Housekeeping 10 21,390 21,390 10,995
Ministry and mission 11 42,116 2,323 44,439 44,559
Fabric costs 12 15,978 173,349 66 189,393 14,709
Management and administration 13 5,360 8,326 7,598 21,284 4,232
Total Expenditure 84,844 181,675 9,987 276,506 74,495
Gains/losses on investment assets 14 289,612 289,612 44,827
Net income/(expenditure) before
transfers (2,923) (178,995) 283,228 101,310 36,554
Transfers Between funds 24 250 (250) 0 0
Other Gains on revaluation of
fixed assets
Net movement in funds (2,673) (178,995) 282,978 101,310 36,554
Reconciliation of funds
Total funds brought forward at
1 January 2022 104,698 179,879 3,263,598 3,548,175 3,511,621
Total funds carried forward at
31 December 2022 101,531 884 3,546,576 3,648,991 3,548,175

18

BALANCE SHEET AT 31 DECEMBER 2022 BALANCE SHEET AT 31 DECEMBER 2022 BALANCE SHEET AT 31 DECEMBER 2022 BALANCE SHEET AT 31 DECEMBER 2022 BALANCE SHEET AT 31 DECEMBER 2022 BALANCE SHEET AT 31 DECEMBER 2022 BALANCE SHEET AT 31 DECEMBER 2022 BALANCE SHEET AT 31 DECEMBER 2022 BALANCE SHEET AT 31 DECEMBER 2022
Unrestricted Unrestricted Restricted Total Total
general designated funds funds funds
funds funds 2022 2021
Note £ £ £ £ £
Fixed Assets
Church premises 14 2,971,344 2,971,344 2,681,732
Other property&property-related assets 15 570,500 570,500 570,500
Furniture & equipment 16 0
Total fixed assets 0 0 3,541,844 3,541,844 3,252,232
Current Assets
Prepayments 17 0 2,910
Debtors 18 2,819 2,819 2,967
Cashat bank -short termdeposits 19 102,650
884
4,612
108,276		 292,341
Cash in hand 20 75 75 40
Total current assets 105,554 884 4,612 111,170 298,258
Amounts falling due within one year:
Accruals 21 1,095 1,095 1,230
Creditors and advance receipts 22 2,928 2928 1,085
4,023 0 0 4,023 2,315
Net current assets 101,531 884 4,732 107,147 295,943
Total assets less current liabilities 101,531 884 3,546,576 3,648,991 3,548,175
Provision for liabilities 23 0 0
Total net assets 101,531 884 3,546,576 3,648,991 3,548,175
**Funds of the church **
Restrictedfunds 24 3,546,576 3,546,576 3,263,598
Unrestricted general funds 24 101,531 101,531 104,698
Unrestricted designated funds 24 884 884 179,879
Total church funds 101,531 884 3,546,576 3,648,991 3,548,175
The notes on pages 8 to 20 form part of these accounts.
Signed by two trustees on behalf of all the trustees
Signature: Signature:
Print name: Print name:
Date of approval: Date of approval:

19