**CHARITABLE INCORPORATED NUMBER: 1199211** 

## **REPORT OF THE TRUSTEES AND** 

## **FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2024 BURY STREET COMMUNITY CHURCH** 

## **CONTENTS OF THE FINANCIAL STATEMENTS** 

|Reference and Administrative Details|2|
|---|---|
|Report of the Trustees|3 to 6|
|Independent Examiners Report|7|
|Statement of Financial Activities|8|
|Balance Sheet|9|
|Cash Flow Statement|10|
|Notes to the Financial Statements|11 to 15|



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**BURY STREET COMMUNITY CHURCH** 

## **REFERENCE AND ADMINISTRATIVE DETAILS** 

## **Charitable incorporated number** 

1199211 

## **Principal address** 

Bury Street Community Church 339 Bury Street West London N9 9JW 

## **Independent Examiner** 

AP Whitehead ACA 34 Illingworth Way Enfield EN1 2PA 

## **Bankers** 

NatWest 21 Gentleman’s Walk Norwich NR2 1NA 

## **Association** 

Fellowship of Independent Evangelical Churches 41 The Point, Market Harborough LE16 7QU 

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## **BURY STREET COMMUNITY CHURCH** 

## **REPORT OF THE TRUSTEES** 

## **for the Period Ended 31 December 2024** 

The trustees present their report with the financial statements for the year to 31 December 2024. The trustees have adopted the provisions of 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 (FRS 102) (effective 1 January 2019). 

## **CONSTITUTION** 

A group of Christians from Enfield Town Community Church (ETCC) started meeting together in Bury Street in 2017.  In June 2022 Bury Street Community Church (“the Church) was registered with the Charity Commission as an independent Church and charity.  The activities of Bury Street Community Church transferred from ETCC to the Church in July 2022. 

The Church is governed by a constitution established in 2018. 

## **PRINCIPAL ACTIVITY** 

The principal activity of the Church in the year under review was the advancement of the Christian faith in accordance with the Basis of Faith primarily but not exclusively within the London Borough of Enfield and the surrounding neighbourhood; and such other charitable purposes as shall, in the opinion of the members of the Church in general meeting, put into practice the Christian faith in accordance with the Basis of Faith, including but not limited to: the prevention and relief of need, hardship and sickness and the advancement of education”. The Church also provides facilities for the local community. 

The Church holds regular Sunday services and weekly activities and to grow as God’s people, in order to go and make Jesus known to those around us. 

## **APPOINTMENT OF OFFICIALS** 

Nominations for a new Elder may be made at any time by the body of Elders.  The nomination requires the approval of the Church meeting with a minimum threshold of 75% of those voting.  An Elder shall be appointed for five years and shall then be eligible for re-election. 

Deacons may be appointed by the Elders. They have no fixed term but are reviewed annually. At present there are no deacons appointed. 

The Church Secretary is responsible for the induction of any new elder which involves an awareness of the responsibilities of the position, the governing document, and the Church’s policy and procedures. 

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**BURY STREET COMMUNITY CHURCH** 

## **REPORT OF THE TRUSTEES** 

## **for the period ended 31 December 2024** 

## **REVIEW OF THE YEAR** 

At the start 0f 2024 the church was without a pastor.  The church was administered by the permanent trustees, Nigel Williams, and Veeman Masillamany, plus two temporary trustees, Derek Pearce and Jake Tasker, who were appointed by the church membership.  In June, once Jake Tasker completed his training at Oak Hill Theological College, Jake was elected by the membership as the new pastor of Bury Street Community Church. At this point Jake became a permanent trustee, and Derek Pearce completed his service as a temporary trustee. 

On Sundays and during the week, age related activities for children were provided. The Church also provided a Mums and Tots group, and women’s and Men’s study group. All these activities were open to the general public. Over the year, Sunday morning attendances have generally been between 40 and 60. 

The Church held a Community Open Day in September with activities for all ages and this was well attended by many neighbours and friends from the Bury Street West area and beyond.  The Church continued to invite the public regularly by leaflet campaigns and knocking door to door. 

The Church continued to support our missionary family in various parts of the UK and abroad. 

## **FUTURE ACTIVITIES** 

It is the intention of the Elders to continue the principal activities as set out above. 

## **RELATED PARTY TRANSACTIONS** 

There were no transactions with related parties during the year. 

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**BURY STREET COMMUNITY CHURCH** 

## **REPORT OF THE TRUSTEES** 

## **for the period ended 31 December 2024** 

## **FINANCIAL POSITION** 

The Church made a surplus on unrestricted funds of £27,773 (2023: £45,658). The surplus in 2023 included a transfer of funds from Enfield Town Community Church (ETCC) of £13,144 to provide initial working capital for the Church. 

## **RESERVES POLICY** 

The objective is that the reserves of the Church are sufficient to fund the activities for three months.  At 31 December 2024 the reserves are sufficient to fund the activities of the Church for six months based on the costs budgeted for 2025. 

## **RISK MANAGEMENT** 

The elders have conducted a review of the major risks to which the church would be exposed and systems are being implemented to mitigate those risks where possible. The risks and systems will be regularly reviewed. 

## **ELDERS AND OFFICIALS** 

The elders and officials in office during the year were as follows:- 

- Jake Tasker (temporary trustee until June and permanent trustee thereafter) 

- Nigel Williams 

- Veeman Masillamany 

- Derek Pearce (as a temporary trustee until June) 

## **VOLUNTEERS** 

The Church’s activities rely on the commitment of large number of volunteers. The Church recognises the contribution that the volunteers make in the sustaining of its activities. 

## **TRUSTEES RESPONSIBILITIES** 

Charity law requires the trustees to prepare financial statements for each financial year, which give a true and fair view of the state of affairs of the Church and of its financial activities for that period.  In preparing those financial statements the elders and officials are required to: 

- (a) select suitable accounting policies and then apply them consistently; 

- (b) make judgements and estimates that are reasonable and prudent; 

- (c) state whether the policies adopted are in accordance with SORP 2005 and with applicable accounting standards, subject to any material departures disclosed and explained in the financial statements; 

- (d) prepare the financial statements on the going concern basis unless it is inappropriate to assume that the Church will continue. 

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The elders and deacons are responsible for keeping accounting records which disclose with reasonable accuracy the financial position of the Church and to enable them to ascertain that the financial statements comply with the Charities Act 1993.  They are also responsible for safeguarding the assets of the Church and hence for taking reasonable steps for the prevention and detection of fraud or other irregularities. 

Signed on behalf of the Trustees 


N H Williams 

9 October 2025 

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**REPORT OF THE INDEPENDENT EXAMINER TO THE TRUSTEES OF** 

## **BURY STREET COMMUNITY CHURCH** 

I report on the accounts of the Church for the period ended 31 December 2024, which are set out on pages 8 to 15. 

## **Respective responsibilities of trustees and examiner** 

The Church’s trustees are responsible for the preparation of the accounts. The Church’s trustees consider that an audit is not required for this year (under section 43(2) of the Charities Act 1993 (the 1993 Act)) and that an independent examination is needed. 

It is my responsibility to: 

- examine the accounts (under section 43(3)(a) of the 1993 Act); 

- to follow the procedures laid down in the General Directions given by the Charity 

- Commissioners (under section 43(7)(b) of the 1993 Act); and 

- to state whether particular matters have come to my attention. 

## **Basis of independent examiner’s report** 

My examination was carried out in accordance with the 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 you as 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 view given by the accounts. 

## **Independent examiner’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 41 of the 1993 Act; and 

- to prepare accounts which accord with the accounting records and comply with the 

- accounting requirements of the 1993 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 accounts to be reached. 


AP Whitehead ACA 34 Illingworth Way Enfield Middlesex EN1 2PA 

9 October 2025 

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## **BURY STREET COMMUNITY CHURCH** 

## **STATEMENT OF FINANCIAL ACTIVITIES** 

## **for the Period Ended 31 December 2024** 

||**Notes**|**Unrest-**<br>**ricted**<br>**funds**|**Restricted**<br>**funds**|**Total**<br>**2024**|**Unrest-**<br>**ricted**<br>**funds**|**Restricted**<br>**funds**|**Total 2023**|
|---|---|---|---|---|---|---|---|
|||**£**|**£**|**£**|**£**|**£**|**£**|
|Donations and legacies|2|64,637|1,218|65,855|70,405|2,510|72,915|
|Gift from ETCC|7|-|-|-|13,144|-|13,144|
|Investments|3|759|-|759|152|-|152|
|Charitable activities||198|-|198|4,262|-|4,262|
|**Total income**||**65,594**|**1,218**|**66,812**|**87,963**|**2,510**|**90,473**|
|||||||||
|Church activities|4|37,821|2,384|40,205|42,305|2,490|44,795|
|**Total expenditure**||**37,821**|**2,384**|**40,205**|**42,305**|**2,490**|**44,795**|
|||||||||
|**Net income for theyear**||**27,773**|**(1,166)**|**26,607**|**45,658**|**20**|**45,678**|
|||||||||
|**Transfers between funds**||(630)|630|-|(630)|630|-|
|**Net movement in funds**||**27,143**|**(536)**|**26,607**|**45,028**|**650**|**45,678**|
|Total funds brought<br>forward||59,520|650|60,170|14,492|-|14,492|
|**Total funds carried**<br>**forward**|**10**|**86,663**|**114**|**86,777**|**59,520**|**650**|**60,170**|



## **CONTINUING OPERATIONS** 

All income and expenditure has arisen from continuing activities. 

The notes on pages 11-15 form part of these financial statements. 

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## **BURY STREET COMMUNITY CHURCH** 

## **BALANCE SHEET** 

## **At 31 December 2024** 

|**At 31 December 2024**||||
|---|---|---|---|
||**Notes**|**2024**|**2023**|
|||**£**|**£**|
|**Fixed assets**||||
|Tangible assets||-|-|
|||||
|**Current assets**||||
|Debtors|6|1,612|1,912|
|Cash at bank and in hand||85,165|58,258|
|||||
|**Net current assets**||**86,777**|**60,170**|
|||||
|Current liabilities|7|-|-|
|||||
|**Total net assets**||**86,777**|**60,170**|
|||||
|**The funds of the charity**||||
|**_Restrictedfunds_**|8|114|650|
|||||
|**_Unrestrictedfunds_**||||
|-<br>General fund|8|86,663|59,520|
|**Total unrestricted funds**||**86,663**|**59,520**|
|||||
|**Total funds**||**86,777**|**60,170**|



The financial statements were approved by the Board of Trustees and were signed on its behalf by: 


N Williams -Trustee 

## 9 October 2025 

The notes on pages 11-15 form part of these financial statements. 

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**BURY STREET COMMUNITY CHURCH** 

## **CASH FLOW STATEMENT** 

## **for the Period Ended 31 December 2024** 

||**2024**|**2023**|
|---|---|---|
||**£**|**£**|
|**Cash flows from operating activities**|||
|Cashgenerated from operations|27,666|43,918|
||||
|**Cash flows from investing activities**|||
|Interest received|(759)|(152)|
||||
|**Change in cash and cash equivalents in the reporting period**|**26,907**|**43,766**|
||||
|**Cash and cash equivalents at the beginning of the reporting period**|**58,258**|**14,492**|
||||
|**Cash and cash equivalents at the end of the reporting period**|**85,165**|**58,258**|
||||
||||
|**RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING**<br>**ACTIVITIES**|||
|**Net income for the reporting period from the Statement of Financial**<br>**Activities**|26,607|45,678|
|**_Adjustmentsfor:_**|||
|Interest received|759|152|
|Decrease/(increase)in debtors|300|(1,912)|
||||
|**Net cash from operating activities**|**27,666**|**43,918**|



The notes on pages 11-15 form part of these financial statements. 

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**BURY STREET COMMUNITY CHURCH** 

**Notes to the Financial Statements** 

## **1. ACCOUNTING POLICIES** 

## **Basis of preparing the financial statements and assessment of going concern** 

The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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 (FRS 102) (effective October 2019)', the Charities Act 2011 and the Charities Act 2011. The financial statements have been prepared under the historical cost convention. 

The trustees consider that there are no material uncertainties about the Church's ability to continue as a going concern. 

## **Incoming resources** 

Voluntary income is received by way of donations and gifts and is included in full in the Statement of Financial Activities when it is receivable. Legacies and donations are included in the Statement of Financial Activities in the year in which they are received. 

Donations arising under Gift Aid are accounted for on the date of receipt and provisions are made for income tax remaining unclaimed at the year end. 

No value of services by volunteers has been included in these accounts. 

## **Expenditure** 

Gifts and donations represent amounts paid by the Church to support organisations with similar aims including the support of members of the church undertaking work in furtherance of the gospel outside with other organisations. 

## **Debtors** 

Trade and other debtors are recognised at the settlement amount. Prepayments are valued at the amount prepaid. 

## **Cash at bank and in hand** 

Cash at bank and in hand includes; cash, bank current accounts and bank deposit accounts with no withdrawal limitations. 

## **Creditors** 

Creditors are recognised where the charity has a present obligation resulting from a past event that will result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors are recognised at their settlement amount. 

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**BURY STREET COMMUNITY CHURCH** 

**Notes to the Financial Statements** 

## **1. ACCOUNTING POLICIES (Continued)** 

## **Tangible fixed assets** 

Fixed assets for use by the Church with a value of greater than £1,000 are capitalised at cost and depreciated. Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. 

## **Taxation** 

The Church is exempt from tax on its charitable activities. 

## **Fund accounting** 

## _Unrestricted funds_ 

The general funds are donations and other income received or generated for the objects of the Church without further specific purpose. 

## _Restricted funds_ 

The Christmas offering fund receives the proceeds of a special offering at Christmas services which is distributed to good causes identified by the Church leadership. 

The Giving to those in need fund provides financial help for church members / our mission partners who are in financial difficulties. 

## **Financial instruments** 

The Church only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially measured at transaction value and subsequently measured at their settlement value. 

## **Pensions** 

The Church contributes to pension schemes nominated by the staff. The contributions are accounted for in the period in which they are receivable. 

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## **BURY STREET COMMUNITY CHURCH** 

## **Notes to the Financial Statements** 

## **2. Donations and legacies** 

|**2.**<br>**Donations and leg**|**acies**||||||
|---|---|---|---|---|---|---|
||**2024**|**2024**|**2024**|**2023**|**2023**|**2023**|
||**Unrestricted**<br>**funds**|**Restricted**<br>**funds**|**Total**<br>**funds**|**Unrestricted**<br>**funds**|**Restricted**<br>**funds**|**Total**<br>**funds**|
||**£**|**£**|**£**|**£**|**£**|**£**|
|Regulargiving|54,544|-|54,544|60,161|-|60,161|
|Other donations|1,432|1,218|2,650|1,703|2,260|3,963|
|Gift aid|8,661|-|8,661|8,541|250|8,791|
|Donation from ETCC|-|-|-|13,144|-|13,144|
|**Total**|**64,637**|**1,218**|**65,855**|**83,549**|**2,510**|**86,059**|



The donation from ETCC is the part of funds held by Enfield Town Community Church from the funds that were used to establish BSCC. 

## **3. Charitable activities** 

|**3.**<br>**Charitable acti**|**vities**||||||
|---|---|---|---|---|---|---|
||**2024**|**2024**|**2024**|**2023**|**2023**|**2023**|
||**Unrestricted**<br>**funds**|**Restricted**<br>**funds**|**Total**<br>**funds**|**Unrestricted**<br>**funds**|**Restricted**<br>**funds**|**Total**<br>**funds**|
||**£**|**£**|**£**|**£**|**£**|**£**|
|Staff costs|14,925|-|14,925|10,255|-|10,255|
|Premises costs|17,460|-|17,460|23,451|-|23,451|
|Other costs|5,436|2,384|7,820|8,599|2,490|11,089|
|**Expenditure Total**|**37,821**|**2,384**|**40,205**|**42,305**|**2,490**|**44,795**|



## **4. Trustees remuneration and benefits** 

Remuneration during the year was paid to one trustee – Jake Tasker, totalling £13,333 in respect of his employment as Pastor of the Church. Jake received no remuneration for his involvement as a trustee. No other benefits were received, or expenses reimbursed by trustees during the period ended 31 December 2024 (2023 Nil). 

## **5. Staff costs** 

|**5.**<br>**Staff costs**|||||||
|---|---|---|---|---|---|---|
||**2024**|**2024**|**2024**|**2023**|**2023**|**2023**|
||**Unrestricted**<br>**funds**|**Restricted**<br>**funds**|**Total**<br>**funds**|**Unrestricted**<br>**funds**|**Restricted**<br>**funds**|**Total**<br>**funds**|
||**£**|**£**|**£**|**£**|**£**|**£**|
|Wages and salaries|13,333|-|13,333|9,685|-|9,685|
|National insurance|-|-|-|-|-|-|
|Pension costs|1,000|-|1,000|570|-|570|
|Support staff(ETCC)|1,582|-|1,582||||
|**Total**|**15,915**|**-**|**15,915**|**10,255**|**-**|**10,255**|



The remuneration is that paid to the Pastor, Jake Tasker, who joined during 2024. 

The average number of employees during the year was as follows; 

||**2024**|**2023**|
|---|---|---|
||**No.**|**No.**|
|Pastor|1|1|



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**BURY STREET COMMUNITY CHURCH** 

## **Notes to the Financial Statements** 

## **6. Debtors** 

|**6. Debtors**|||
|---|---|---|
||**2024**|**2023**|
||**£**|**£**|
|Other debtors(Gift aid receivable)|1,612|1,912|
|**Total**|**1,612**|**1,912**|



> **7. Movement in funds** 

|**7.**<br>**Movement in funds**||||||
|---|---|---|---|---|---|
||**Balance at**<br>**1 January**|**Income**|**Expenditure**|**Transfers**|**Balance**<br>**at 31**<br>**December**|
|**2024**|**£**|**£**|**£**|**£**|**£**|
|**_Unrestrictedfund_**||||||
|General fund|59,520|65,594|(37,821)|(630)|86,663|
|**Total unrestricted funds**|**59,520**|**65,594**|**(37,821)**|**(630)**|**86,663**|
|||||||
|**_Restrictedfunds_**||||||
|Christmas offering|650|1,027|(2,193)|630|114|
|Givingto those in need|-|191|(191)|-|-|
|**Total restricted funds**|**650**|**1,218**|**(2,384)**|**630**|**114**|
|||||||
|**Total**|**60,170**|**66,812**|**(40,205)**|**-**|**86,777**|
|||||||
|**2023**||||||
|**_Unrestrictedfund_**||||||
|General fund|14,492|87,963|(42,305)|(630)|59,520|
|**Total unrestricted funds**|**14,492**|**87,963**|**(42,305)**|**(630)**|**59,520**|
|||||||
|**_Restrictedfunds_**||||||
|Christmas offering|-|1,160|(1,140)|630|650|
|Givingto those in need|-|1,350|(1,350)|-|-|
|**Total restricted funds**|-|**2,510**|**(2,490)**|**630**|**650**|
|||||||
|**Total**|**14,492**|**90,473**|**(44,795)**|**-**|**60,170**|



The General Fund is donations and other income received or generated for the objects of the church without further specific purpose. 

The Christmas offering fund receives the proceeds of a special offering at Christmas services which is distributed to good causes identified by the Church leadership. 

The Church established a fund which provides financial help for church members / our mission partners who are in financial difficulties. 

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**BURY STREET COMMUNITY CHURCH** 

## **Notes to the Financial Statements** 

## **8. Net assets by fund** 

||**Cash at**<br>**bank**<br>**and in**<br>**hand**|**Other net**<br>**current**<br>**assets**|**Balance**|
|---|---|---|---|
|**2024**|**£**|**£**|**£**|
|**_Unrestrictedfunds_**||||
|General fund|85,051|1,612|86,663|
|**Total unrestricted funds**|**85,051**|**1,612**|**86,663**|
|||||
|Givingto those in need|114|-|114|
|**Total restricted funds**|**114**|**-**|**114**|
|||||
|**Total**|**85,165**|**1,912**|**87,077**|
|||||
|**2023**|**£**|**£**|**£**|
|**_Unrestrictedfunds_**||||
|General fund|57,608|1,912|59,520|
|**Total unrestricted funds**|**57,608**|**1,912**|**59,520**|
|||||
|Givingto those in need|650|-|650|
|**Total restricted funds**|**650**|**-**|**650**|
|||||
|**Total**|**58,258**|**1,912**|**60,170**|



## **9. Enfield Town Community Church** 

The Church was started by Christians from Enfield Town Community Church (ETCC) meeting together in Bury Street in 2017.  In June 2022 Bury Street Community Church (“the Church) was registered with the Charity Commission as an independent Church and charity.  The activities of Bury Street Community Church transferred from ETCC to the Church in July 2022. 

Some income (£18,380) continued to be received into the accounts of Enfield Town Community Church (ETCC) and this was used to pay Bury Street expenses (£19,687).  The net income was added to the designated fund and the balance of £13,144 was transferred to the Church in 2023. No income relating to the Church was received into the accounts of ETCC in 2024. 

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