David and Jeannie Chambers Charity for Mitcham Lane Baptist Church Charitable Incorporated Organisation
Report and Accounts Year ended 31 December 2024
1 Lamb's Passage, London EC1Y 8AB www.stewardship.org.uk
DAVID AND JEANNIE CHAMBERS CHARITY FOR MITCHAM LANE BAPTIST CHURCH CHARITABLE INCORPORATED ORGANISATION
LEGAL & ADMINISTRATIVE DETAILS
FOR THE YEAR ENDED 31 DECEMBER 2024
ADDRESS FOR CORRESPONDENCE C/O Mitcham Lane Baptist Church 230 Mitcham Lane London SW16 6NT GOVERNING DOCUMENT Constitution dated 8 February 2023 as updated 4 December 2024. CHARITY REGISTRATION NUMBER 1201888 TRUSTEES RESPONSIBLE FOR Marilyn Baritmeus MANAGING THE CHARITY Francesca Collis Hannah Roberts Rev. Philip Stone BANKERS Metro Bank PLC INDEPENDENT EXAMINER Archie McDowall BA CA Stewardship 1 Lamb's Passage LONDON EC1Y 8AB
| INDEX | |
|---|---|
| Page 1 | Legal & 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 |
| Page 8 | Notes to the Accounts |
Page 1
DAVID AND JEANNIE CHAMBERS CHARITY FOR MITCHAM LANE BAPTIST CHURCH CHARITABLE INCORPORATED ORGANISATION
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 DECEMBER 2024
The Trustees have pleasure in submitting the Report and Accounts for the year ended 31 December 2024.
Objects of the charity
The charity's principal objects, as set out in its governing document, are to preserve and protect the fabric and fixtures of Mitcham Lane Baptist Church, including the church building, as a place of worship and as a building of historical and architectural merit and to advance the Christian faith according to the principles of the Baptist denomination by providing financial support to projects and initiatives set up by the Mitcham Lane Baptist Church.
Summary of the charity's main activities and achievements
The charity has continued to grow financially over the course of the year and there has been no change in trustees.
The Charity’s investments continue to be invested using the Transact platform and during 2024 three applications were made to the Charity totalling £3,632 to pay for floor maintenance and emergency door repairs in the church’s large hall. This was in line with the Charity Constitution.
The solicitors managing the estate of the late David Chambers were able give an interim payment to the charity in August 2024 of £150,000.
The trustees met again with the financial advisor, Phil Tolhurst, in October 2024 who reiterated that the objectives of the Charity were to invest any monies given, so as to increase the capital sum available to it and provide funds from the investment interest as and when available, as requested by the Trustees of MLBC CIO to help finance any fabric projects that occur.
It was agreed that of the £150,000 given in August, £142,500 was invested and the remainder held in the bank in case of any unforeseen expenditure in relation to the sale of the house.
The trustees met again in December and a resolution was passed as per the wishes of David Chambers in the Constitution to change the name of the charity from the Jeannie Chambers Charity to David and Jeannie Chambers Charity for MLBC CIO. This was approved by the Charity Commission.
In planning the activities the Trustees have applied the guidance on public benefit issued by the Charity Commission.
Page 2
Financial review
During the year income increased by £13,500, to £153,852, and expenditure increased by £47,852, to £152,692. As a result the cash held by the charity increased by £1,160, to £36,392, of which £8,428 is unrestricted and can be used for any charitable purpose.
In addition, £260,885 of the original Endowment from David Chambers and his estate is held as investment funds and cash. The total of the original capital held as at the end of the financial year was £288,849.
Reserves policy
As the charity has no ongoing commitments, other than the fees required to service its capital funds, the trustees have determined that a minimum cash reserve of £5,000 is required in order to ensure that there is no detriment to the original capital. As at 31 December 2024, this target was met.
Plans for the future
In early 2025, the charity received in excess of £950,000 from the sale of the late David Chambers' house and has invested the entire sum with our advisers Transact. We expect that David's estate will be wound up in the near future and a further sum received, which will constitute the final contribution to the capital. The trustees will continue to seek the optimal returns on the capital sum in accordance with the charity's objects.
Governance
Responsibility for setting policy and for making operating decisions rest with the trustees who meet regularly to monitor the activities of the charity. New trustees are recruited and appointed by the existing trustees, by a majority vote.
Risk statement
The charity is exposed to various risks - be they operational, financial or reputational. The trustees review the charity's activities regularly to identify significant risks and, where possible, they take appropriate measures to mitigate those risks.
Page 3
Responsibilities of trustees
Charity law requires us as Trustees to prepare financial statements for each accounting year which record the receipts and payments of the charity for the year.
We are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and enable us to ensure that the financial statements comply with the Charities Act 2011.
We also have a responsibility to safeguard the assets of the charity and to take reasonable steps to prevent fraud or any other irregularities.
Approval
This report was approved by the trustees and signed on their behalf by:
Philip Stone
Philip Stone (May 12, 2025 13:57 GMT+1)
………………………………………………………..
PHIL STONE (TRUSTEE)
May 12, 2025 Date:_____
Page 4
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF
DAVID AND JEANNIE CHAMBERS CHARITY FOR MITCHAM LANE BAPTIST CHURCH CHARITABLE INCORPORATED ORGANISATION
'the charity'
I report to the trustees on my examination of the accounts of the charity for the year ended 31 December 2024 on pages 6 to 8 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.
Archie McDowall
Archie McDowall (May 14, 2025 11:40 GMT+1)
Archie McDowall BA CA Stewardship 1 Lamb's Passage LONDON EC1Y 8AB
Date: May 14, 2025
Page 5
DAVID AND JEANNIE CHAMBERS CHARITY FOR MITCHAM LANE BAPTIST CHURCH CHARITABLE INCORPORATED ORGANISATION
RECEIPTS AND PAYMENTS ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2024
| Notes Income receipts Donations Legacies Total receipts Payments 2 3 Total payments Transfers between funds Net movement in funds Cash funds as at last year end Cash funds at this year end A Net of receipts / (payments) before transfers Grants paid in relation to charitable activities undertaken by others Payments in relation to charitable activities undertaken directly Purchase of investments |
Unrestrict | Designated Funds £ - - - - - - - - - - - - - - ed Funds |
Restricted Funds £ - - - - - - - - - - - - - - |
Endowment Funds £ - 153,852 153,852 5,355 - 5,355 142,500 142,500 147,855 5,997 (8,100) (2,103) 33,012 30,909 |
2024 £ - 153,852 153,852 6,560 3,632 10,192 142,500 142,500 152,692 1,160 - 1,160 35,232 36,392 |
2023 £ |
|
|---|---|---|---|---|---|---|---|
| General Funds £ - - - 1,205 3,632 4,837 - - 4,837 (4,837) 8,100 3,263 2,219 5,483 |
|||||||
| 140,000 352 |
|||||||
| 140,352 | |||||||
| 120 - |
|||||||
| 120 | |||||||
| 105,000 | |||||||
| 105,000 | |||||||
| 105,120 | |||||||
| 35,232 - |
|||||||
| 35,232 - |
|||||||
| 35,232 |
The notes on pages 7 form part of these accounts.
Page 6
DAVID AND JEANNIE CHAMBERS CHARITY FOR MITCHAM LANE BAPTIST CHURCH CHARITABLE INCORPORATED ORGANISATION
STATEMENT OF ASSETS AND LIABILITIES
FOR THE YEAR ENDED 31 DECEMBER 2024
| A Cash funds Cash at bank with immediate access B Liabilities Fee for Independent Examination Total C Investment assets Investment Funds Investment Cash |
General Designated funds funds £ £ 5,483 - 5,483 - 960 - 960 - Unrestricted Funds |
Restricted funds £ - - - - |
Endowment funds £ 30,909 30,909 - - Fund to which asset belongs Endowment Endowment |
2024 £ 36,392 36,392 960 960 2024 Value £ 257,524 3,360 260,884 |
2023 £ |
|
|---|---|---|---|---|---|---|
| General funds £ 5,483 5,483 960 960 |
||||||
| 35,232 | ||||||
| 35,232 | ||||||
| 960 960 |
||||||
| 2023 Value £ |
||||||
| 105,902 1,438 |
||||||
| 107,339 |
D 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
by Philip Stone (May 12, 2025 13:57 GMT+1)Philip Stone date May 12, 2025 -------------------------------------------------------PHIL STONE (TRUSTEE)
The notes on pages 7 form part of these accounts.
Page 7
DAVID AND JEANNIE CHAMBERS CHARITY FOR MITCHAM LANE BAPTIST CHURCH CHARITABLE INCORPORATED ORGANISATION
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2024
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. Endowment funds are donations that are retained as capital in accordance with the donor's wishes. The nature of the restriction determines whether the endowments represent permanent endowments or expendable endowments.
| 2 Payments in relation to charitable activities undertake Maintenance of buildings & equipment Independent examination Bank charges 3 Grants paid in relation to charitable activities undertak Grants for: Mitcham Lane Baptist Church |
Unrestrict | Designated funds £ - - - - - - ed Funds |
Restricted Funds £ - - - - - - |
Endowment Funds £ 5,355 - - 5,355 - - |
Total 2024 £ 5,355 960 245 6,560 3,632 3,632 |
Total 2023 £ |
|
|---|---|---|---|---|---|---|---|
| - - 120 |
|||||||
| 120 | |||||||
| - | |||||||
| - |
3 Grants paid in relation to charitable activities undertaken by others
4 Transactions with related parties
The charity paid grants totalling £3,632 (2023: £nil) to Mitcham Lane Baptist Church CIO (charity number 1161743), of which Francesca Collis and Rev. Philip Stone were also trustees. These grants were in line with the charity's objects and its governing document.
5 Movement on designated, restricted and endowment funds
| General funds Endowment funds Mitcham Lane Baptist Church Fund Total funds |
Balance at 31.12.23 £ 2,219 138,012 138,012 140,232 |
Receipts £ - 153,852 153,852 153,852 |
Payments £ (4,837) (5,355) (5,355) (10,192) |
Investment Gain / (Loss) £ - 13,384 13,384 13,384 |
Transfers £ 8,100 (8,100) (8,100) - |
Balance at 31.12.24 £ 5,483 291,793 |
|---|---|---|---|---|---|---|
| 291,793 | ||||||
| 297,275 |
Page 8