Central Baptist Church Walthamstow
Report and Accounts Year ended 31 December 2023
1 Lamb's Passage, London EC1Y 8AB www.stewardship.org.uk
CENTRAL BAPTIST CHURCH WALTHAMSTOW
LEGAL AND ADMINISTRATIVE DETAILS
FOR THE YEAR ENDED 31 DECEMBER 2023
ADDRESS FOR CORRESPONDENCE 101A Orford Road, Walthamstow London E17 9QR GOVERNING DOCUMENT CIO registration 9th November 2021 CHARITY REGISTRATION NUMBER 1196500 TRUSTEES RESPONSIBLE FOR Tibor Dekany MANAGING THE CHARITY Andrew Ferdinando Robert Jeffery Thomas Kitchen (appointed March 2023) Roger Neil Winston Reid Maurice Titmarsh CUSTODIAN TRUSTEES London Baptist Property Board Ltd. BANKERS Co-operative Bank INDEPENDENT EXAMINER Jaimée Young Stewardship 1 Lamb's Passage LONDON EC1Y 8AB
INDEX
| INDEX | |
|---|---|
| Page 1 | Legal and Administrative Details |
| Pages 2-4 | Trustees' Report |
| Page 5 | Independent Examiner's Report |
| Page 6 | Receipts and Payments Account |
| Page 7 | Statement of Assets & Liabilities |
| Pages 8-9 | Notes to the Accounts |
Page 1
Central Baptist Church, Walthamstow, a Charitable Incorporated Organisation Trustees’ Annual Report 2023
Objectives and Aims
Central Baptist Church, Walthamstow, exists to advance the Christian faith in accordance with our Basis of Faith, primarily, but not exclusively, within Walthamstow and the surrounding neighbourhood.
The trustees have had regard to the guidance issued by the Charity Commission on public benefit. Through our core activities, we have continued to help people see that following Jesus is the best decision they could ever make.
Activities
Our activities all seek to glorify our triune God and to point to Jesus Christ. Our main activities are the provision of Sunday worship services, prayer meetings, group Bible Studies and one-to-one Bible studies, pastoral care and outreach (including children’s and youth groups, leafleting the neighbourhood and marketplace evangelism). We continue to support (financially and in prayer) 9 missionaries and Christian organisations in their service to God and proclamation of the gospel in the UK and around the world. This year included visits with ministry reports and preaching from two of our missionary couples.
We thank God for the baptisms of three adults during 2023. It’s always a joy to see this symbol of God’s saving work. We heard testimonies of how the Lord had drawn each one to himself, and it was good to have visitors with us to see and hear their witness to the grace of our Lord Jesus Christ.
We continued to encourage the church community to keep trusting God, and to keep following his commands, which are good for them and for the wider society. In particular, the preaching of God’s Word, the prayer meetings and the Bible studies challenged members of the fellowship to continue to serve the Lord. For example, a series on Lamentations taught us about a godly response to suffering, and a brief series refuting the false teaching of the Health, Wealth and Prosperity ‘gospel’ helped warn us against loving anything above God himself.
Our activities are often run by volunteers from within the membership of the church, and we thank God for giving a variety of gifts to his people to enable them to serve him and one another.
Achievements and Performance
It has been a delight to welcome Thomas and Seda Kitchen to the church. Thomas began his ministry as Associate Pastor here on 1[st] March 2023. He and his wife have quickly settled into the fellowship. Thomas’ preaching and teaching ministry have been very well received, and proved a blessing to us all. He has been involved in leading group Bible studies as well as a training course called “The Course of Your Life”. He has introduced a regular monthly slot on Sunday mornings called “Three Minute Theology” which has led to deeper thinking and very helpful conversations. His pastoral work amongst the fellowship has included visiting members and doing one to one Bible studies with a number of men.
There have been a number of extra opportunities for pointing people to Jesus throughout the year. We have had visits from school children from two different schools. We trialled some door-to-door ministry in the local area, seeking to bring invitations and good news directly to the community. We held special events including a quiz night, and a family event on the weekend of the King’s Coronation, which included an opportunity to donate to a local food bank. And we began a regular bi-monthly service at a local residential care home for elderly people.
We thank God for these additional gospel opportunities, but also for the regular ongoing work, including amongst children and young people. Sunday School (3-11s), Under Fives (0-5s), Good News Club (5-11s), and Yoyo (11-18s) continue to bring the good news about Jesus in an age-appropriate manner week by week.
Page 2
Financial Review
We are thankful to God for his financial provision through another year.
The unrestricted donations were £71,588 (110% of what was projected). Total income for the year was £107,029 of which £2,561 was restricted.
The trustees and members approved the purchase of replacement flooring in the Church building and additional heaters costing £5,048. Members were also informed that both the Church and Manse required significant repairs and they approved spending £14,505 on the maintenance of the two buildings. This was £7,500 more than had been anticipated at the beginning of the year. Total expenditure for the year was £120,702 and the total of all funds fell by £13,673 This fall in total funds was expected, and reflects the extra costs involved in employing a second full time worker, our Associate Pastor.
We continue to observe our reserves policy. We aim to maintain a minimum reserves balance of £36,000, which consists of £29,000 for basic running costs and £7,000 to cover unforeseen costs or unforeseen reductions in income.
At the end of the year the charity held £156,675 of which £711 was restricted. From 1st March 2023, we have been paying the stipend of an associate pastor. This is expected to last for a period of three years. Most of the funds in excess of the above reserves policy are expected to be used to meet the employment and other costs associated with employing a second paid worker over the projected three years of the employment.
After the end of the year, we were informed that the Church would receive £22,000 from the estate of a lady who used to attend the church. We appreciate her generosity and continue to thank God for His provision for the Church.
Structure, Governance and Management
Central Baptist Church Walthamstow operates as a charitable incorporated organisation (CIO), Central Baptist Church Walthamstow, charity number 1196500, constituted under a Constitution and a Handbook.
Our trustees are the deacons and elders of the church, including the pastor, and are appointed by the members according to the handbook.
Reference and Administrative details
| Charityname | Central Baptist Church,Walthamstow |
|---|---|
| Registered charitynumber | 1196500 |
| Charity’s principal address | 101A Orford Road, Walthamstow, London, E17 9QR |
Names of the charity trustees who manage the charity:
| 1 2 3 4 5 6 7 |
Trustee name | Office (if any) | Dates acted if not for wholeyear |
Name of person (or body) entitled to appoint trustee(if any) |
|---|---|---|---|---|
| Robert James Jeffery | Pastor | |||
| Thomas Kitchen | Associate Pastor | 1/3/23 onwards | ||
| Roger Geoffrey Neil | Elder | |||
| Maurice Roy Titmarsh | Elder | |||
| Winston Livingstone Reid | Deacon | |||
| Andrew Alan Ferdinando | Deacon | |||
| Tibor Dekany | Deacon |
Page 3
Declarations
The trustees declare that they have approved the trustees’ report above.
Signed on behalf of the charity’s trustees
| Signature(s) Full name(s) Position(eg Secretary, Chair, etc) Date |
RJeffery (Jun6,2024 10:31GMT+1) R Jeffery |
R Jeffery (Jun 6,2024 10:31 GMT+1) R Jeffery |
|---|---|---|
| Robert Jeffrey | ||
| Pastor | ||
| Jun 6, 2024 | ||
| Jun 6, 2024 |
Page 4
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF
CENTRAL BAPTIST CHURCH WALTHAMSTOW
I report to the trustees on my examination of the accounts of Central Baptist Church Walthamstow ('the charity') for the year ended 31 December 2023 on pages 6 to 9 following.
Responsibilities and basis of report
As the trustees of the charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the 2011 Act’).
I report in respect of my examination of the charity’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
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 accordance with section 130 of the 2011 Act; or
-
the accounts do not accord with the accounting records.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Jaimée Young
Jaimée Young (Jun 6, 2024 10:37 GMT+1)
Jaimée Young
Stewardship 1 Lamb's Passage LONDON EC1Y 8AB
Date: Jun 6, 2024
Page 5
CENTRAL BAPTIST CHURCH WALTHAMSTOW
RECEIPTS AND PAYMENTS ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2023
| Unrestricted | Funds | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| General | Designated | Restricted | Total | Total | ||||||||
| Funds | Funds | Funds | 2023 | 2022 | ||||||||
| Notes | £ | £ | £ | £ | £ | |||||||
| Income receipts | ||||||||||||
| Donations | 71,588 | - | 1,886 | 73,474 | 78,786 | |||||||
| Gift aid receipts | 12,521 | - | 175 | 12,696 | 10,497 | |||||||
| Legacies | 500 | - | 500 | 1,000 | - | |||||||
| Rental income | 2 | 13,725 | - | - | 13,725 | 14,465 | ||||||
| Interest | 5,335 | - | - | 5,335 | 1,828 | |||||||
| Other | 799 | - | - | 799 | 603 | |||||||
| Total receipts | 104,468 | - | 2,561 | 107,029 | 106,179 | |||||||
| Payments | ||||||||||||
| Payments in relation to activities undertaken directly |
charitable | 3 | 108,498 | - | - | 108,498 | 73,309 | |||||
| Grants paid in relation to activities undertaken by others |
charitable | 4 | 8,970 | 1,377 | 1,856 | 12,204 | 15,475 | |||||
| Total payments | 117,468 | 1,377 | 1,856 | 120,702 | 88,784 | |||||||
| Net of receipts / transfers |
(payments) | before | (13,000) | (1,377) | 705 | (13,673) | 17,395 | |||||
| Transfers between funds | 7 | (1,377) | 1,377 | - | - | - | ||||||
| Net movement in funds | (14,378) | - | 705 | (13,673) | 17,395 | |||||||
| Cash funds as at | last | year | end | 170,342 | - | 6 | 170,348 | 152,954 | ||||
| Cash funds at this year end | A | 155,965 | - | 711 | 156,675 | 170,348 |
The notes on pages 8-9 form part of these accounts.
Page 6
CENTRAL BAPTIST CHURCH WALTHAMSTOW
STATEMENT OF ASSETS AND LIABILITIES
AS AT THE YEAR ENDED 31 DECEMBER 2023
| A Cash funds Cash at bank with immediate access Notice deposits Cash in hand B Other monetary assets Gift aid due to charity Other debtors C Liabilities Falling due within one year: Promised missionary funding PAYE/NI due NEST pension Accrued expenses Fee for Independent Examination D Assets retained for charity's own use Church Building & Hall [Orford Road] Manse Residential property Contents and equipment |
General Designated funds funds £ £ 23,740 - 132,175 - 50 - 155,965 - 8,630 - 3,688 - 12,318 - 2,964 - 1,024 - 371 - 62 - 1,200 - 5,621 - Unrestricted Funds |
Restricted funds £ 711 - - 711 - - - - - - - - - |
Total 2023 £ 24,451 132,175 50 156,675 8,630 3,688 12,318 2,964 1,024 371 62 1,200 5,621 Value 2023 £ 184,301 |
Total 2022 £ |
|---|---|---|---|---|
| 23,458 146,840 50 |
||||
| 170,348 | ||||
| 8,131 4,235 |
||||
| 12,367 | ||||
| 2,546 352 - - 1,320 |
||||
| 4,219 | ||||
| Value 2022 £ |
||||
| 165,853 |
The trustees have used insurance values for contents and equipment as the trustees are unable to reliably estimate current values; insurance values may differ materially from current values.
Current values have not been quoted for the properties because reliable valuations are not available and disclosure is not mandatory.
E Guarantees and secured debts
The charity has not given any guarantees and has not provided its assets as security for any liabilities.
The accounts were approved by the trustees and signed on their behalf
R Jeffery by _____ R Jeffery (Jun 6, 2024 10:31 GMT+1) date ____ Jun 6, 2024 Robert Jeffery
The notes on pages 8-9 form part of these accounts.
Page 7
CENTRAL BAPTIST CHURCH WALTHAMSTOW
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2023
1 Accounting policies
The accounts have been prepared on a receipts and payments basis and comprise a statement that shows the charity's receipts and payments, a statement that summarises the charity's assets and liabilities and related notes. The accountancy profession have determined that only accounts prepared in accordance with applicable accounting standards present a 'true and fair' view and, as these receipts and payments accounts have not (and cannot) be prepared in accordance with accounting standards, these accounts do not present (and are not intended to present) a 'true and fair' view of the charity's financial activities and state of affairs.
General funds are unrestricted funds which are available for use at the discretion of the trustees in furtherance of the general objectives of the charity. Designated funds comprise unrestricted funds that have been set aside by the trustees for particular purposes. Restricted funds are donations which are to be used in accordance with specific restrictions imposed by donors; they include donations received from appeals for specific activities or projects.
| 2 Rental income Hire of hall for U3A Hire of hall for polling Ground Rent from Flats (Village Court) Barnabas House rent 3 Payments in relation to charitable activities undertaken directly Employment costs Note 5 Visiting speakers Children and young people Church repairs and maintenance Church insurance Church utilities Barnabas House running costs and maintenance Manse running costs and maintenance Note 5 Evangelism and events Fellowship Fund Equipment and furnishings Conferences and training Governance and legal fees (including CIO set up) Administration and support Subscriptions and licences 4 Grants and gifts paid to others Organisations: Illyrian Gospel Trust European Missionary Fellowship Contagious Youth Camp Organisations < £1,000 Individuals: Pastor in Philippines Pastor in Sudan Other |
Unrestricte | Designated funds £ - - - - - - - - - - - - - - - - - - - - - 250 250 - 626 125 125 - 1,377 d Funds |
Restricted Funds £ - - - - - - - - - - - - - - - - - - - - - - - 264 1,485 7 - 100 1,856 |
Total 2023 £ 225 - 300 13,200 13,725 63,092 2,507 551 11,017 3,688 3,919 2,725 8,200 2,621 769 1,076 1,137 1,474 3,804 1,918 108,498 1,827 1,827 264 6,052 920 1,213 100 12,204 |
Total 2022 £ |
|
|---|---|---|---|---|---|---|
| 190 250 - 14,025 |
||||||
| 14,465 | ||||||
| 33,064 3,835 952 3,797 4,085 4,852 5,878 1,100 1,925 417 367 463 5,853 4,684 2,036 |
||||||
| 73,309 | ||||||
| 1,881 1,881 1,541 7,145 2,087 941 - |
||||||
| 15,475 |
Page 8
CENTRAL BAPTIST CHURCH WALTHAMSTOW
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2023
5 Transactions with related parties
Robert Jeffery served as a church leader and was paid £29,865 [2022: £27,500] for serving in that capacity, not for serving as a trustee; these payments are permitted by the charity's governing document.
In addition the charity incurred expenditure in respect of the provision of accommodation (which is customary for ministers) to Robert Jeffery, who is a trustee, so that they could better perform their duties (see note 3).
Thomas Kitchen served as a church leader and was paid £28,100 [2022: £0] for serving in that capacity, not for serving as a trustee; these payments are permitted by the charity's governing document.
Maurice Titmarsh, a trustee, was paid £1,300 [2022: £2,000] for preaching, not for serving as a trustee. These payments comply with the charity's governing document.
6 Acting as agent
During the year, the charity received money on behalf of trustee T Kitchen from a church who wanted to support him directly at the start of his ministry. This income was received as agent; the receipt of £2,000, and the subsequent payment, are excluded from the Receipts and Payments account.
| 7 Movement of funds General funds Designated funds Missionaries Restricted funds Missionary Funds Other special offerings Total funds |
Opening balance £ 170,342 - 170,342 6 - 6 170,348 |
Receipts £ 104,468 - 104,468 1,076 1,485 2,561 107,029 |
Payments £ (117,468) (1,377) (118,846) (371) (1,485) (1,856) (120,702) |
Transfers £ (1,377) 1,377 - - - - - |
Closing balance £ |
|---|---|---|---|---|---|
| 155,965 - |
|||||
| 155,965 | |||||
| 711 - |
|||||
| 711 | |||||
| 156,675 |
The designated Missionary Fund relates to a tithe of recovered gift aid that is allocated for the purpose of missionaries and mission organisations. The restricted Missionary Fund relates to funds donated specifically for the purpose of missionaries and mission organisations.
Other special offerings were held for charities including Tearfund, London City Mission and SASRA.
8 The Baptist Pension Scheme
Previously the Baptist Pension Scheme’s now closed defined benefit scheme had been reporting a funding deficit and the charity had been making contributions to help make good the shortfall. The Baptist Pension Scheme provided estimates for the charity’s share of the funding deficit and the estimate at the year end was included as a monetary liability in the Statement of Assets and Liabilities.
In July 2022 the Baptist Pension Scheme reached an agreement with an insurance company, called Just, to secure the benefits payable under the now closed defined benefit pension scheme (‘DB Scheme’). The premium payable to Just was favourable and, after the transaction with Just, the DB Scheme no longer has a funding deficit. It will take some time to complete the process and, until it is complete, some risks remain. Based on current values the Baptist Pension Scheme believes it has sufficient assets to complete the process without requiring additional contributions from participating employers but, because some risks do remain, the charity has been asked to make a nominal monthly contribution of £1 to the DB Scheme from August 2022.
Page 9