RICHfvIOND-
SALEM BAPTIST CHAPEL CHARITY
Adiiiiiilsteiyd by
Grw¢t Baptist Charititt Limited
FINANCIAL sfA T￿￿]ENTs
FOR TH
YEAR ENDED JI DECEMBER 2024
Cliarlty kumbei.: 1201410
Contents
Page
Repart of the Trustees
Reporl ofihe Independent Examiner
Statement of Finl￿)cial Activities
Balantt Shccl
Noies to tlieAeeounts

RICHMOND_SALEM 8APllST CHAPEL CHARITY
REPORT OF THE I'RUSTEE FOR THE
YEAR ENDED 3 1 DLCEM8ER 2024
The trust¢ei liavl ple4sure in submiLting tlieii. rLPOrt £1nd the iiidtptndently*kumined finan¢ial staierll¥nls foi. the
Salem Baptist Chapel (Ricliirondl f.hai'ity foi. the s'eat. elided 31 Decemb¢t 2024. They liavt been prepayed in tlie
ronna¢ i)i'&%LI'ibed b}. the StateiiTr¢nl of Recom￿nended Practi￿, 'A¢c(kunting and Repoiting by Cli1£ I'lties, {FRS 1021
i%5ued by the Chai'ily CoininissiotJeiT.
Obje¢tivts and Activitie5
lThe object% of Iht cliaiity are tu coniiibute tow41￿$ the upkeep aiid i'epair ot the Gtace Bi£ Ptist Chapel, Winkni.
Road, KeNv, and artcillL?ry biiilding und the tnatntenance of seiwites in the Chapel: a150 lor lurthei'ing the IEligiou8 an41
otlier L￿arL￿ble ii'ork ot. the A.%50ciation of Gi?ce Bapiist Churches ISoLltli Fasil else)vhete in Gi'eater Londott aiid in
th¢ Counties of Surrey, Buckiiigham5hire and Hertfoi'd5hiie. SeiviLes al G17ce Baptisi Chupel, Wiiidsor Road, Keiv
vtre Sus￿nded in December 2020. A dLcisioJi ivos niade noi to &cek to revilalise the chuvch and tlie buildiiig was
501d in Apiil 2023. 'lkne pix)ceeds ot. sale was addeil to tlie peniiaiien( endoiviiieiit and Ihe irtcoii)e tlieiElor¢ ii'ill bL
available to fyrth¢i' Ihe work ol-thc Trust.
'riie trustees, poli¢y is to invest original fuiids to provtde foi. boili ¢apiiol gits￿h and incanie, the income lo be
disii'ibÈited above. Tlie capilal inve%tinent8 ol. the fund continLie to be lield in a ¢on)bination of pro]Kriy and
balanced stock e.Kchatige poi'Lfolio.
GI¥iAI Fiiokingpolrcy
The chdriiy invites applicaiions for fundin8 tiDm PR11iculai' Baptist Churche5 are aftilialed 10 the A%so¢iation ol.
Graee Baptist Chui'clies (Sollth FAstl. The applications are ieirieived against specific ci"iieria and objeLtive5 that at?
ct by the Board ot. Dire¢tors. All funded piDjecLs are moniiored and revleii'ed on an annual basis.
The IrusteLS Contiriii il)a¢ they haire had duc iEgaiYJ lo ilie gtiidancc issued by the Chai'ity C.oniinission ort iiublic
¢fJt ii,hen plaiiiii￿ tlieii. activiiie% tor the yeai.. The niain actil'ities unde11Jken by the ehai'il}' to further its
charitable purposes for tlie publi¢ benefit air the is511ing of grants 10 cliurches iYhi¢h PYQiiide a ranoe ot- activities
including weekly public iTrviship Services, and Il)e iSSLie ot a wnt to AGBC{Sf) Hutne Mi83ion ii'hieli pl￿VIde5
support to such Lliurches.
Acliievenients Perfoi'njante
Giants iveie di8wibut¢d to seven chuirlies to ihe iwalue ol. £57,500 12023- £54,500) tor charithble iii)i'k cMne¢ied
Itl) the A530ciation ot Gl'ace Baplisl Churclies {Soiitli En5tl and a grant of £20.000 120?.1 £24.0001 niad¢ to
AGIJCISEI Home fvfissioIi. In addilion, a giwnt of £40:000 12023.- £45,000) was niade ts) the AGBCISE! Ti2iniiig
Fund ￿ fund trL1ining Grace Baptist Pastors to seiwe in our ehiirches.
FlnAntlal Rtvi*iY
111 202J, ExLepIEoiial Income of £1:183520 ivas ieceii'ed froiii the ￿le of ilie K#¥ Chapel and added ts) the
Pei'manen( Cndoivineiii.
Income fi'oni invesimeiits increosed by £18,856112.27 %) on the pieirious yeav, Thi5 Iva5 b£¢au5r of iiiconie troi)I tlie
neiv pyoceeds of rlie siile of Ihc Kthy Chai)el ivhich hdve been ini'ested in a n¢iv portfolio mana¥ed by Rs1ht￿nes
Tnves¢ment Managers. Tlie ￿alue Iii die quoied inv¢5ttllent5 inciEased by 2.98% and tlieiE li'a% ao unrealised sui'plus
ot 2.020/0 on the iiivestsiiLnt piDpwty.
The Yalue ot the endoivinenL lund increased by £151.185 in 2024 as a result af the investment gi'owth.

RICHMOND- SALEM BAPTIST CHAPEL CHARITY
RfPORT OF THE TRUSTEE FOR THE
YEAR ENDED31 DELEl%4BER 2024
Icontinuedl
Reseri'espolicji
The c17arii)t had toial reserves of £5,356.513 at the year end. £5,2il.550 of tlie irseives are in Ilie e*TrdoiiTrent tund.
The charity lias amended ils polic), on reserves to ensuiy tliat it has siil'li¢ient reseiwes to ¢oveT any graiils agieed pliis
six nioiiihi of t)on.giant expcnditiire. A5 grants are agreed in Noveimbei. and paid out over the folloiviiig yeai., Ihis
vill ensuir that Il)e cliarity siifticient fiittds to pay the granis should income un<Kpe¢(edly i'edu¢e. Pttilliousl),
giynlg i￿e1￿ agreed ollt of tlie budgeited inconie ol'the year in ivliicli they ivei'e paid.
The curi'ent fire Irsei've5 £104,963, an increase of £25k and part ora delibetmie poliey to ot]Iy PL1y gr*?ntS Ollt of
income already received.
Stjwclure, Covei'n8nte M2n#gtintnt
The Salcm Baptist Cliapel (Riehmondl Charity ivas ¢onstiiured by a Sclieime of th¢ Charity Coimmissioners dated
28111 April 1975 10 adininister and rtianag¢ tlie Salem Bapii5t Chapel (Dced of Twst 29tli Novembei. 18871, Trust
property, adniiiiistered in connectioii ivttli tliat chai'ity (Deed of Ti'usL ddkd 17ih Junt l 8961, the thJTity ol'Thanias
RDbinsoii foi. Ilie clitt￿l {Ivill proved on 7ih Nowe[ni￿r 1938) at]d the chniily ol-Thomas Robinsoll tor building a nciv
chapel Iwill ￿0Ved on 7th Novembei. 19181. It is a i'egislered charity number 1201410.
Risk AliiHageipivRIl
The Itiistee ha% assessed Ihe princip81 risks to ivhieli the ¢hai-ity is e.Ypused. iii p&iticulai' thobe i'elated tsi Ihe
opeiations and fiiiallLe ol-thc Lhai'ity. and are sa115tlLd tliat pJ't)ccduirs al'e iii place 10 enatilc i¢pot1s to bL pJuiii¢ed so
thL?t necessaiy steps Can be taken to miiigate its exwsuiT (o the majoi. risks.
Key ri&ks and tlie steps taken to niitigate these include liquidity due lo incame bein8 inslltficient tt> cover ¢oinmitted
8innts Iniiii8ated by ¥8nts being agiyed annually) and investment i'isk (mitigatLxI by use of professiontsl invesimcnt
Idvisersl.
Jinpeslpjiépiipoivgrs
The iovesintettt ot the irusttts ait subjLLt to tlic Tiiistec Invcsttnents Act5 1961. ￿ amended. The twstccs
seek to irflect un ci'aTEoelical wsition in exercssin8 ethical coiisttziiits ivith iiiveslmcllt%. Tlie trustee's wlicy i8 to
invest OYl8inal tunds to provide (oi. b()Ih upital giDivt]i inroill¢. the Inronie to br distribiilcd a5 (¥bove.
Refei'ence alld AdJniThAstrAtlve Detalls
The chaiit), Ivas administerLd bj, Il)e trustee, Grace Baptist ch￿ItIeS Limiied (GBLL), throiighoiil the Y￿l.. Tlie
<iLioied invcstineiils al-e lield in a wjitfolio its the nanie of the TTusiee.
CBCL'S registered officc (s 62 Bi'ide Sti'eeL London, N7 8AZ Tlie coinpany irgisli?tion iiutnbei. is 96055 aiid cliatxty
limber is 1172489.
The directotS Ot GBCL at (l￿e date Df thi.9 report iveTe'.
A Creedy Icliaiiinaii ). P Fugglt.. A tiardnei. IFinanLe Ofticer). B Joiies',A King t D J Mortimer ITirasurer froin Oct
20241,. Mis% M O, Mara- P Smith., J Souihcombe (Treasurer) {resigned Ck.t 20241- P Woodley {resigned Oci 20241.
C Clai*son (appointed Ck'i 20241;
'Fhe prillcipal advisers ￿t the cliayity, ale as folloNVS-.
ALeoiin(anis
JCS Actountans Liniited, 5 Robin Hood Lane.
Suttoii, Suii'ey SM12SW
2llve5tec Wealth aiid IniJe.%tment Ltd. 2 CJtEsl)an)
Streel TJ)ndoii FC2 7QP
Raihbi)nes Investmen¢ Manftgeii)ent, 8 Finsbury
Ciirus, London. EC2M 7AZ
PrinLipul Investn)ent Mana8ei3'.

RICHM0140-SALEM BAPTIST CHAPEL CHARITY
REPORT OF TI.IE TRUS'FEE F'OR TFIE
YF.AR F.NDED 31 DCCEMBLR 2024
{eontinuedl
Trustees Resyonslbllltles
The ti'ustees are responsible foi. prep￿.InS tlie Trustees, Repori and Ihe financial siatenients in a¢cordanc¢ with
applicable lakv and Uniled Kingdoin Generally Accepted Aclounting Practice.
Lam, applicable lo cliai'ities in Fnglaiid and Wales requiics the trustees 10 y'epaiE titt&ncial stalLments foi. ￿Cli
rjnancial year iiliich give a true ond frail- vieii. ol- the ¢hai-iiy's lii)an¢ial aetiVilie5 111 the year and ol it3 tiiiall¢ial
pohition thi thc end ot thc ycar. In prepai'ing fjnancial staknie*Ets gii'ing a irue and fa. ir illieiv, tli¢ Iiwstees ale Irquired
to..
belect suitable a¢¢ouniing policies and tlien apply thein eunsi5tently..'
i)bsei3'e the Inetl)ods ai)d prii)cii)les in die Cliai'iiies SORP
illake judgements and e%tirnatt5 that al'e reasanable Jnd prudeiit.,
statc wlieihci. applicable UK Aceouniin8 Srandaixd% have been tollowed, subjec( io any material d¢pLqltures-
and
pIEpair die fin￿)C1a1 stateJnLnts on tlie going concern ￿ls15, unl&%s it is inappi'opriate to piEsume tl)at tlie
cliarity ivill conllrtue in oper&tioii.
The trustees are i'esponsible for keepiii8 proper accounting reL￿1'd8 ii,hieh disclose Ni'itli Irlwnable accuiacy at any
tinie Ilie financial Posilion ol'tjie Lharily and wliitli enable Ilicni to ensure Ihal tlie financial slaLemEiilS Cotnply ivitli
the Chai'i11¢5 Act 2011. Tliey &ir also Irsponsible foi. sat¢guarding the ussels ot. the chaiity and hence tor taking
reasonable sieps fo¥ th¢ prei'¢nliun and deteLtion i)t fiaud aiid othei. iiYe8ularities.
FOR AND ON IIEHALF OF THE TRU￿EE
62 Bride Ststet
tA)ndon
N7 8AZ
.v)
D Idoi'linitt, DiiEtior
Grace Bfiptist ClIArities Limited
Joili June 20?5

RICHMOND- SALEM BAPTIST CHAPEL CHARITY
INDEPENDEM. EXAMINER'S REPORT
.10 rHE fRUSTEE OF
RICHMOND- SALE￿1 BAPTIST CHAPEL CHARITY
I JEPOlt 10 the chai'i(y truslee ott niy exanTrinutioTr of tli¢ accounts of the Riclimond- Saletji Baptist Chapel Ch8rit)'
I'the Tiu%t'l for the year ended 31 Decembei. ?024 set oiilon pages 5 10 1?
Respo￿$1b1]i1le* and b#$ls (bf repoi't
As tlie Lliai'ity's trustee you aiE r£%ponsible tor the prepaiation ot the accounts in accol￿ance H'ith tlie ￿quIt.en7Cnts ot
the Charities Act 2011 (-the Act'l.
I repoit in r&%pe¢( ot my e￿iDinaLl0￿ of the 'fru5t's accounLs as eai'ried out under section 145 01. tlie Act and in
cw'jysng out m), exan]inatii)t) J have folloi%'ed all tlie applitable Directions given b} ¢lie Chaiiiy Conimission under
seclion 145{5)16) ol'lhe ALL
Iiidepelldellt eiAmiller's statenjent
have complEttd niy £xainin8tion. I coiitirill Ihal no iiiatteis liave conie ro Iny auention sn coniie¢£ion ivith Uie
cxaminatioti givi￿8 t￿e tause to helieiie tliat iii arty muierial i'espect..
accouiiLing rccords ivere not kepi in It%peet oftlie Tyust as YequiTLd by seL'tion 130 ot. Ilie ALt' or
the accouiitb do iiot accord with tliose Ircaix4s'. or
ihe acLounts do not eoniply il'ith Ihe &ppl(¢able reouiiemLnt5 conceining the form and conlenl of accouttts sei
OUL iii ilie Charities IAccuunls and RepDIl1 Re8ulalions 2008 oilier Ihan any requii-enJ¢nt tliat Ihe accounts
8iife a '-ts￿e and tail. vieii" Ivliich is not a In8ttei' considered as part of an independeal examination,. oi.
the accounts hi2ve not beet) prepared itt acLx)1￿￿7eC witli Ilie nieiliods and principle.8 ot. Accounting aiid
R¢poi'ljnO
by Ch￿ille5-. Stateillent of Recoinniendtd P1￿CtIce applicable lo th￿L1&e5 PJLparing (heir accounts
iii accoilaiice iviili tlie Financial ReFX)rting Siandard api)licable in tlie IIK and tlle R¢pulilic ot Ireland {FRS
I liave iio cojicems aiid have coine a¢TOSS no other m&tteJ's in connectioii with the examination to kthich attention
shoiild k di*wn in this ieport in ordei. to enable a piDper understandiElQ ol'the aLCoLm￿ 10 b¢ ieached.
R l FlaffLnden cfA fcA
.FCS AL¢oLlntanlS l.imited.
5 Robin Hood TJ£ine,
Sutton,
Suiiry
SMI 2SW

RICHMOND. SALEM BAPTIST CHAPEL CHARITY
SI'ATEMENT OF fiNANCIAL AcfIviTIES
FOII THF YF,AR ENDED 31 DECEMBER 21124
2024
2025*
Fuiid
Ineoine gild etidoivinejits fvoiij..
Irjvestmertts
Pi'oeeeds liom Sale ot Reduiidallt c.hapel
Total income endowillellts
172,471
172,471
li3,615
,183.520
F J37,135
172.471
172,471
Expendltua'e oil:
Rai.8iog I'und8
Chai'itqble aLtIVllies
Total expenditure
7,780
139.592
147372
24.455
??,989
147.399
170,388
139,592
171,827
24,455
Operatlllg surplus
2S,099
124,4551
644
1,166,747
Net gaiiis un investments
175.640
175,640
151.798
N¢t iii¢oni¢ Net xnoveiiiellt iii Fund5
25,099
151,18S
176,284 1 J18,545
Re¢tsiiciliatioM of funds:
Fund8 byought ti)Ili￿1￿1
Fuuds eai'i'i¢d forworil
79.1¢64 5.100,305
104 963 5 2.515.50
5.180.229 3,861,684
S6 SJ3 5 180
29
*PrioryeKr ¢ipialy51S.'
Uiiieslrlrtgrf Eiirfoiviiieiil
Fiilid
Fiipid
21123
Toléil[iiii¢ls
IneoTMe and enilowiiiettts fi'oin:
Invesiixeiits
P1￿CeedS fiDin Salc ot-Rcdundant Chapel
Tot81 iiicomc and eiidoivinellts
153,615
153.615
1513,-f20
1337 IJ5
1.18.1.-520
AS3 615 1 183520
Exptmditui't oil:
R1< Isins funds
C.ha'itable actii'ities
Total e.xpendltur¢
5,965
147.399
k53J64
17,024
22.989
47,J99
170J88
17,024
Operstlttg surplus
251 1,166,496
,166,747
Net gains 011 inve5till¢ntS
151,798
151,798
N¢¢ iNcoi]A¢ Net nioveinent iij Fund5
141 lu18,294
1,318,fj4£
Reconciliation of fujids:
E.'unds bi'ought toyiiwrd
Fund$ tai'ried forwAI'd
79.613 3.782,071
3.861,684
79
64 5,100 365 5 180,229

RICHIAOND. SALEM BAPMST CHAPEL CHARITY
rJALANCE SFIEET
AT 3 ISI" DECLfvIBER 2024
2024
2023
Nnle
Filed a55¢t5- Iiive5tiiiell¢$
Quolcd InvestincJil&
li)veslment Piupcrty
4.650,733
608,49)
5259,228
4,516,098
596.450
i.112.548
Cui'rent assets
Debtoi's
Cash de￿Sited ivith Grnce Baplist Cliaiitie5 1.ld
23,305
81,036
104.341
23.415
JO I)32
Liabilities
Crcditors.. Atnouii(s talling due ivithin one year
17,Oi61
6,666
Net ¢uYrent h$$¢ts
97,285
67,681
Totftl net gssets
i 3)6.513
5 1802?9
The funds of tlie thai'lly:
Endowinent Fund
Pvopei'ty Revaluauun Reseviie {EndoivineiiL}
Total endownient
14
5.018,831
232.719
5.251,550
4,879.691
220,674
i,100,365
UniEstricted Fund
Total tuiids
104.963
i 3)6 513
79.864
5 180229
Signed ot) behalf of tlie Board of Trustees on 3011) Jlltte 2025 by..
D Mortiimei., Dil'e¢￿r
Grate BAptist Chxi'ities Liiiilted

RICHMOND- SALEM BAPTIST CHAPEL CHARITY
NOTFS TO TFIE ACCOUN'rs
FOR THF. YEAR FNDED 31 fJECLMBER 2024
ACCOUNTENC POLICIES
Tlie E)I'ii)cipal accountin￿ policies adopted, judgem¢nLs aiid key sources of estirnation uncertaiiity in the
pi'epai?lioii of the tinancial slateineiiis are as folloM?S:
(a) Accounting conventÈo
The financial st8tenients have been prepared undei. the Chai'ilies Act 201 l aiid in aLcordance ii'ith tjie
Chai'ities StatLniint of Rtci)mniended Piactice Ichaiilies SORP IFRS 1021) and Financial RLpoi'l1￿g
Staiidai'd 102 IFRS 1021. The finaiicial slalements are diau'n up on d)e liistoi'ical cost basis of aLcountjii& as
modified by tlie I'evaluation of ini'eslmenls. L'lic finanLial statenienls are piEpared in pounds stLI'ling 1￿undLd
lo tlie nearesl wund.
Richniond Saleni Baptist Cliapel Ch&i'ily nieets Ihe definition of a piiblic benefit entity linder FRS 102. It is
an unin¢orporal¢d irgi5teird charitabl¢ tivst IchariÉ)' nuinl)ei' 12014101 Ivith registered address of 62 Bride
Stsrct, London, N7 8AZ.
Ib) Goiiig eoiieei.
Tliei'c air no Inaterial unceitainlies abolit the chai'ity's ability to cotttinue.
{c) In¢oin¢
IDvestment ineome is recogfiised oli ali accruals basis.
Idl E￿pendI(￿le
All expendiiure is it)¢luded on an Iccruals basis. Charitable eX￿nditu1'e Col￿priSeS all expendilure dir¢ctly
¥elated to the objects ot the ch2rit}'. Tliis irJ¢ludes govemance ¢ost5 11.hich Irpre%ellt ili¢ cost ol. compliance
i¥ith cort$tiiutional alid slatutori r¢qiiiirmtnts.
lel Investiiitn¢s #lld inv¢5tmeiit pi'oi)erties
Inve5tllTrenls and In￿eStn]ent properties are sknted dt niai'ket illalue. The trustees rrvicw the value of investment
pioperiies aiiiiually and obtain ektern81 valuations every live }'cars.
Realised gains and losses aiising ott the diswbal ol. investments and ini'uiment piDpei'ties arL' in¢liid¢d in the
tatemeni of Finaiicial Actiiijijcs. UIiiEalised gains oi. lasses arisiiig troni changcs in market value are also
l'ec0￿0 ised in the Siaieineni ol. Finan¢ial A¢tii'i(ie&
{t) DebtOl'5
Loans to Lhui'ches and ti'usls and oiher debiors air tiieluded at Ilie s¢ttlemet)t aniount due. Piepaynienls ai
valued at the amouni prepaid.
181 Caslj deiiosited Ivith GYAce BAPtEst ClIArltles Ltd
Cash depusitLd ivitl) Gvace Bapiisi Chai'i¢ies l.ld is a shoi'l term liiglily liqiiid inve%tmenl iiilh a short maliiri(y
of (h￿ iiionilis oi. Icss froin the dale of opeiiin8 of tlie deposil.
Ihl Ci'edltors 4nd pi'ovlsions
Creditots and pl￿visIOnS are i'eco8lii8ed ivheie the ¢l)aYity hds a i)Irscnt obligation aiising fi￿l￿ a pa%1 ev¢iit
that ii-.ill probabl>r I'esuli in tlie tramster ot luiid5 10 a tli11￿ pai'ty and tlie aniounL due to setile LIIL obligauon
ean be m¢asuiLd or estimated reliabl}. Ci'editors and proirisions al'e iecognised at their seiileimeni cimourtl.

RICHMOND-SALEM BAPTIST CHAPEL CHARITY
NO'ILS'fo i'i.IE ACCOUNTS
FOR THE YURCNDLD 31 DLCEMBER 2024
Icoiitinutdl
2 INCOME FROfvI INVESTMENTS
￿￿es[liCie￿ Fiind_
Invtsln1ents listed in Jrcog)i5ed slock exchange
Tt)veststiertt properties
Bank and otljei. inteirsi
Total lJi¢oirt¢ froiii inv¢stiiients
2024
2023
145.027
24,616
2,R?8
172471
103.937
23,183
?6,495
153 615
3 PROCEEDS FROM SALE OF REDUNDANT CHAPF.L
2024
2023
Pvoeeeds trom S&le ot Cha￿1 laftei. selling cosisl
183 520
Sei'vices al Glace Baptist Chapel. Windsor Ri)ail. K￿￿, Ivei'e suspEnded in Decenibei. 2020. A decision iyas
made not to %eek to JYYi1glise Ihe chuirh and the building was ￿)Id in April 2023, The proceed$ of sgle have
be¥n added to the pei'nian¢nt ei7doivJneiit and tlie incorne tlierefore ii'ill be available to fuithei. the ivort( otr tIiL
Trust.
4 EXPENDITURE ON IL4ISING fuNDS
Llnirsti'icled Fund
Invesimeni pIDperly expendiliire
2024
2023
7,780
5,965
Endoivmei)L Fuod
Inve5Lnient mana8eineiit cliai'ges
24,4i5
17,024
Total expeii(Iltui'¢ oil i*l$iiig fuiids
22.989
5 EXPENDITURE ON CHARITABLE AcfiviTIES
Ilni'Esli'icttd Fund
CTr8nt% 10:
AssLKiation of CJi2ce Baptists Isoiiili Eastl- Ti2inin8 Fiind
Si John's Woud Road Raptist Lliurch
cli￿ce C.huich, Waltliainsloiv
M0111101If Road Baptist Church, Bei"mondsey
Ealiiig Rdad Baptist ChLircli. Brerttfthi-d
High Road Baptist Cliui'Lh, FinLhley
The Villoge ChuY¢li, GYeenii'i¢h
(irace Baptist Cliui'cli, Higli Wycoinbe
Kings Road Baptisi Cliuirh, Chiiigford
G12ce Chu¥di. BexleYli￿t1]
AGBCISE) Home Mission
Totgl grgnis
2Q24
2023
40.000
4>,UOO
4,000
4,500
2,500
12.000
8,400
5,000
10,000
12,000
6,000
9,600
6,500
12,000
7,500
20,000
117,500
24,(X)O
12J,iOO
Othcr expoiditurc..
Ti'iisiee Dianagenient charge5
Indepeiideiit exaniinaiion fees
Legal lees
Bank charg¢s
Total otlier expenditure
21,168
92dt
16.385
876
6,60CI
38
23,899
22.092
Total exi)etidttllre on ehAI.It#ble rÈe(Ivltlts
139 592
147

RICHMOND- SALEM BAPTIST CHApeL CHARITY
NOTES TO THE ACCOUNTS
FOR I'FIE YEAR ENDED 31 DECEMBER 20?4
Ic¢)ntinuedl
6 NET GAINS I (LOSSES) ON INVESTfvIENTS
2024
2023
Rtalised Eains on inirestixents
Uni'ealibed gains on inv￿linents
TotRI litt tsaiiis on iiiveslrneaits
47.740
127.900
175,640
17,446
151,798
7 FIXED ASSET INvEsT￿lENTs
2024
2023
Quoted InvestJDtiEts
Mdi'kct value at 1st Januaiy 2024
Addilions
DisposJ15
4,516,098 3,176,057
I,Q73,52?
2,704.194
11.054,7421 11,496.4971
13?,344
4 650 73J 4,516 098
Market valtse at 31st DeLenibeT 2024
Eqult> $11g1'e In Pi'oi)erty.' 2A Bahljjee Road, Lonilou N5
ItLt'kel valLie &L I SL Jaiiuaiy 20?4
Unrealised gaiD5 1 Ilossesl
Mai'ket lue at 3 Isi December 2024
596,450
L2,04)
608,495
611.349
{14.899}
596,450
Totsl investsnenls
5 259.228 5.112.548
Tlie tswslees obtaiiied a protessioiial valiiation ot tlie iiivestiment property in December 2021. Tlie Irustees have
used Ihis os the basis fot Ilie Cu￿eTht iialiiatioii aiid Iiave adjusted it by refeitnce to tlie iiational Iiousc price illdcx
AII qLioled investments al'e listed and dealt with on a recogni%ed %tock exchange in the UK. Theie wos one
individual quoted investments iralued ai moir th811 5¥0 n&iiely Polar c.ap Fds PIC Globul TechOlo￿ at i. IW/ts of
the loial irtvestnient pvrtfolio. No othei. individual qu¢)led investtneiil 1% valued at 5W• oi. iiiore ot the loL11
investment portfDIio.

RICHMOND. SALEM BAPTIST CHAPEL CHARITY
NOTES TO THE ACCOUN"I'S
roR TFIE YEAR ENDED J l DECF.MBER 2024
Icontlllued)
2024
21J25
8 DEBTORS
Debtoi. tor iniiestinent income duc
23,415
9 NET ASSETS
Nel ciirrenl
11552ls
21124
Jiiveslnieiits
Ciii'renljiefir
Unirsti'icled
Fdidoived
104,963
104,963
17,6781 i,25 1,550
97.28)
5356.513
5,259,228
5,259.?28
Nel ciiriÉiil
els
21123
Tolffil
Ipive51nienl.v
Figiireslorpreviou5yeiirAor coijwurlsoii
79.864
79.864
5.100,365
i,180,2)9
UniE%ts'icted
F.ndoived
5,119,548
5,112.548
67,681
'I'he trustces, poliLy IS to iiivest original tutids to pi'ovide bolh capital tunds aiid incoine.
10 RELATED PARTY TRANSACTIONS
GY&¢e Baptisi Chartties Liii)iied is Ihe corw>r&ie Trustee tor the Lhai'iry.
Ett tlie eour.ge ot ILS perfoi'manee as Irustee, the enmpany holds operatiiig cash tunds ot thc LtiariLy. Dui'ing 2024,
the interest rate paid to the cliai'ity oli the cash balanccs hel(l Klras 3.750/0. Litdited quatieAy. The balance of casl)
tunds lield at 3 1st Decenibei. il'as £81.036.
Tlie dii'eciors of Ilie coinpany IMrj(li Ihe exceptioii of ilie Fiiiaiicc OftiLer alld A55ociation Sccretaryl are also the
Execiiiive Coitlmiiiee membets ol. Ilie A*8ociaiion of Grace Baptist Chuirhes Isoiilli &ts't). Dui'ing 2024, giant%
ot L?O.000 ivere tnade to AGBCISFI l-lorne Mission. Ivl)i¢li is a Te%tricied futtd wilhiij Ilie Associatioii.
AGBCISEI Home Missioi) pjvvides Inission suppoit foi. ittdependent evan8elieal Gla￿t Baptist chuiches in the
Association. A gi?Trt of t40.000 H'as Inade to Ilie AGBCSE Trai111T￿ Fui)d to siipport mitiisteys Iraiiiing for Ilie
iiiinistry. Reports oi) the actii'ities ol. both Funds al'e pre5ellted at Association CoiiiJiiitt¢¢ Meeliiig5 held toiir
liines a ye￿.
-rhe trustee proiyided admini5ti.ation seivices to Ihe chaiity lor ￿ chai¥t ot £21,168 {2023.. £16,385).

RICHMOND- SALEM BAPT18T CHAPEL CHARITY
NOTES TO THE ACCOUNTS
roR THE YEAR F.NDED il DECEMBER 2024
IconiiDued)
I I TRUSTEES, RLMUNERATION AND EXPENSES
No i'emiineiEtion oi. ieimbLtrsemeni ot- expenses dirLctly or indirectly oiit ol. Illl funds of the cliai'ity Iva5 paid or
payable foi. the yeav to llrty trusiee oi. 10 any pcrson oi. peiyons kno1￿ ¢0 be COT)Ject¢d ii'ilh any of theni, except as
diselosed in Noie 10.
12 TRUSTEES, DONATIONS
Iljtte ivere no donations to Ilie charity by the Tiustee in 2024.
IJ STAFF COSTS AND EMPLOYEE BENEFITS
I'lie charity did not ejnploy any staff dui'iiig the yeai-.
14 EiYDOWfvIENT FUND
Tlie Endoii'm¢llt Fund is held to generate tncome lor the siipport for tIiL iwrk of the A&%)¢i.qlion ol. Gracc Baptist
ChuiLhes (so￿￿1 ￿SlI.