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2024-03-31-accounts

TRUSTEES ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2024

Charity number 1203167

Contents Page
Index 1
Administration & Legal details 2
Statement of Trustees’ responsibilities 3-4
Trustees Annual Report 5-7
Structure, Governance and Management 8
Financial Overview 9-11
Risk Management 11
Staf and Volunteers 12

1

Registered address:

66-68 Greenwich South Street, Royal Borough of Greenwich. London SE10 8UN

Trustees Role Date elected/inducted Gideon Nash Senior Pastor 9 January 2017 Jennifer Millicent Simms Trustee 24 October 2022 Alice Fiona Woodrow Gallimore Trustee 24 October 2022 Bramwell Walumbe Simiyu Trustee 24 October 2022 Tracey Mame Amfobea Nash Trustee 24 October 2022 Monica Wambui Nganga Trustee 24 October 2022 Sharon Nneka Okwu Trustee 24 October 2022

Bankers:

TSB Bank pls, PO Box 373 Leeds LS14 9GQ

The Co-operative Bank plc, PO Box 250 Skelmersdale WN8 6WT

Auditors:

J Nelson & Co, Chartered Certified Accountants & Registered Auditors

14 Claypole Road, Stratford. London E15 2RJ

Properties:

London Baptist Association and the London Baptist Property Board holds the property (Church building and the Manse) on behalf of the church. Unit C2, 15 Dock Street. London E1 8JN

Solicitors:

DK Legal Ltd, 55 Westfield Road, Surbiton. Surrey KT6 4EJ

2

South Street Baptist Church CIO

Statement of Trustees’ responsibilities

The Church leaders and the Trustees are responsible for the general oversight of the church and for its spiritual and strategic direction. The Church Trustees are responsible for preparing the Trustees’ report and the financial statements in accordance with the applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102: The Financial Reporting Standards applicable in the UK and the Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England and Wales requires that the Trustees must not approve the financial statements for each financial year unless they are satisfied that they give a true and fair view of the state of affairs of the charity and of the income and expenditure of the charity for that period. In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (accounts and Reports) Regulation 2008 and the provisions of the trust deed. They are also responsible safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

3

7 February 2025 Signed on behalf of South Street Baptist Church on ………………..……..(date)

Pastor Gideon Nash ………………………………………..….. Name …………………………………………….

4

South Street Baptist Church CIO

Trustees Annual Report for the year ended 31 March 2024

The trustees present their Annual Report and financial statements for the year ended 31 March 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).

OBJECTIVES AND ACTIVITIES

The principal purpose of the Church is to ~~a~~ dvance the Christian faith, as an evangelical Baptist church, in accordance with the Statement of Faith, including, without limitation, through public religious worship, preaching the Gospel of Christ, the teaching of adults and children, and the provision of pastoral care, support and counselling.

The church as a charity carries out further work by putting into practice the Christian faith, in accordance with the Statement of Faith, including, without limitation:

(i) the advancement of education;

(ii) the relief of those in need by reason of youth, age, ill-health, disability, financial hardship or other disadvantage;

(iii) the prevention and relief of financial hardship; and

(iv) the relief of sickness.

In each case in London and the surrounding area, throughout the UK and other parts of the world.

South Street Baptist church trustees confirm that they have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the charity's aims and objectives and in planning future activities, and exercising any powers or duties to which the guidance is relevant.

5

Summary of main activities

The activities may include but are not restricted to:

ACHIEVEMENT AND PERFORMANCE

During the period the Church has sought to meet its objectives by carrying out several of its activities and has also supported other people as they have sought to meet similar objectives.

Many people have professed faith in Christ in our church during the year, and nine have gone through baptism by immersion and since become members of the church.

Twenty-five people have attended the church’s discipleship classes and have either graduated or in the process of completing that.

The church also helped many of its members and others from the community in their emotional wellbeing and counselling.

6

The church as a charity helped people individually including others from the community who may be struggling with financial debts and taught them money management skills.

The church has however not been able to organise and run its free summer holiday club during the year under reporting due to limited availability of volunteers.

The trustees feel that over the course of the year, the Charity has been successful in meeting its stated objectives through many of the activities that it has embarked upon.

7

South Street Baptist Church CIO

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document of South Street Baptist Church is a CIO charity governed by its Constitution dated 19 May 2023. It was registered as a charity with the Charity Commission on the same date, receiving charity number 1203167.

The church is a member of the London Baptist Association and the Baptist Union of Great Britain, both of which are Registered charities.

The church can also affiliate with any Christian organisation or charity that the Trustees deem appropriate to further its object and purposes.

Appointment, recruitment, and training of trustees

The management of the charity is the responsibility of the Trustees who are elected by nomination at the church AGM (vision and culture night) by the church’s leaders and voted on by membership of the church under the terms of the Constitution. The trustees (except for those in ministerial office) are appointed for an initial four-year term with the opportunity for reappointment at the end of the term if it is in the best interest of the charity to further its objects and purpose.

Each trustee is provided with copies of the church’s CIO Constitution on request, as well as accounts and minutes, and is made aware of the legal responsibilities they are accepting on their appointment.

8

South Street Baptist Church CIO

FINANCIAL OVERVIEW

During the year under review, the income of the Charity was £259,229 (2023: £257,272). Of this, rental income from the Manse was £27,000 (2023: £23,016)

Expenditure for the year was £268,521 (2023: £257,434).

Reserves policy

The trustees have established the level of reserves (i.e. those funds that are freely available excluding designated funds) that the charity ought to have. Reserves are needed to ensure that regular expenditure and donations and grants can be maintained in the short term should there be a reduction in the level of voluntary income received. This policy enables the church’s Trustees to properly manage the church’s finances, including safeguarding the church’s assets and responsibly managing the financial risks in accordance with their legal responsibilities.

The Trustees consider that the ideal level of reserves is £42,000 approximately three months of regular expenditure. Including gift aid credit receivable, the church more than exceeds the desired level of reserves.

Fundraising

Other than publicly inviting an offering and encouraging tithing at each of our worship, we do not engage in persistent fundraising or intrusive fundraising practices with any donors, including vulnerable people, and we never have private or coercive discussions with individuals about their giving. Our fundraising practices are ethical and in accordance with Biblical principles and our fundraising policy. No complaints were received about our fundraising practices.

Taxation

The charity is exempt from tax on its charitable activities.

9

Pension costs and other post-retirement benefits:

The church pays pension contributions for its eligible staff to the Baptist Pension Scheme ( Defined Contribution ). Contributions were paid in the period in the period in which they were made. These are charged to the Statement of Financial Activities in the year to which they relate. The church does not pay towards deficit contributions to the Baptist Pension Defined Benefit Scheme in respect of the closed defined benefit plan.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the Trustees.

Designated funds

These are funds set aside by the Trustees out of unrestricted general funds for specific future purposes or projects.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Movement in funds

The Church Building renovation fund was set up for church members and other donors to voluntarily pay money into it to repay for a loan capital and interest from the London Baptist Property Board (LBPB). This is maintained by a transfer to or from General funds (unrestricted) on a quarterly basis when the liability becomes due.

Balance of the loan capital outstanding as at 31 March 2024 is £172,654 (2023: £192,382)

RELATED PARTY DISCLOSURES

No Trustee received an income or benefit from the charity totalling £60,000 or more during the year.

10

Donations through tithes, offering and other one-off giving totalling £57,688 were received from the seven CIO Trustees during the year (2023: £51,857). Total donations by Pastor Gideon Nash during the same period was £7,612 (2023: £6,216)

Apart from out-of-pocket expenses that was reimbursed, no other Trustee was paid for their services as the charity trustee during the year.

Pastor Gideon Nash who is also a trustee of South Street Baptist Church CIO was paid a salary of £30,000 during the financial year.

Risk Management

The leaders of South Street Baptist Church acknowledge their responsibilities as Trustees to ensure that the church has appropriate risk management processes in place for the identification, assessments and management of risk faced by the church. They strategically oversee a Risk Management Framework which is reviewed regularly and intended to embed a planned and effective approach to risk identification, prevention, and management across all areas of the church, activities. Our Safeguarding officer, data protection manager, building managers and the administration manager take responsibility for overseeing key aspects of risk management and works with a trustee to ensure that key risk management documents are regularly reviewed, updated as needed, and implemented. This Trustee provides regular reports, advice, and information updates to the Trustees board to help them discharge their responsibilities for risk management effectively.

The Church’s leaders as Trustees, are satisfied that major risk have been reviewed and systems or procedures have been established to manage any risk that may occur. The Trustees remain alert to any emerging risks and will seek to address these by identifying and prioritising key actions as well as monitoring and evaluating existing systems of control or mitigation measures.

11

South Street Baptist Church CIO

Number of staff

The number of staff employed by the charity during 2023/24 financial year ended 31 March 2024 was 5, (2023: 4).

Volunteers

The church is blessed with many members who voluntarily offer their gifts and skill set sacrificially to serve those who attends our church services, the public and the community that accesses it services.

Average total number of volunteers in 2024 was 56 (2023: 52 ). These volunteers are not paid by the charity.

12

SOUTH STREET BAPTIST CHURCH

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH

2024

CHARITY NUMBER: 1203167

SOUTH STREET BAPTIST CHURCH

LEGAL & ADMINISTRATIVE DETAILS YEAR ENDED 31 MARCH 2024

ADDRESS FOR CORRESPONDENCE

SSBC

66-68 GREENWICH SOUTH STREET LONDON SE10 8UN

REGISTERED CHARITY NUMBER

1203167

TRUSTEES

GIDEON NASH JENNIFER MILLICENT SIMS ALICE FIONA WOODROW GALLIMORE BRAMWELL WALUMBE SIMIYU TRACY MAAME AMFOBEA NASH MONICA WAMBUI NGANGA SHARON NNEKA OKWU

PRINCIPAL BANKERS

TSB Bank pls, PO Box 373 Leeds LS14 9GQ The Co-operative Bank plc, PO Box 250 Skelmersdale WN8 6WT

INDEPENDENT EXAMINER

J Nelson & Co Chartered Certified Accountants & Registered Auditors 14 Claypole Road London. E15 2RJ

1

SOUTH STREET BAPTIST CHURCH 66-68 GREENWICH SOUTH STREET LONDON SE10 8UN

INDEX
Legal & Administrative Details
Index
Trustee’s Report
Independent Examiner’s Report
Statement of Financial Activities
Balance Sheet
Notes on the financial Statements		 Page
1
2
3-5
6
7
8
9-14

2

SOUTH STREET BAPTIST CHURCH

TRUSTEES' REPORT YEAR ENDED 31[st] MARCH 2024.

The trustees are pleased to present their report for the year ended 31 March 2024 for the charity, SOUTH STREET BAPTIST CHURCH with charity number 1203167.

The Trustees of the charity are:

Gideon Nash Jennifer Millicent Simms Alice Fiona Woodrow Gallimore Bramwell Walumbe Simiyu Tracey Mame Amfobea Nash Monica Wambui Nganga Sharon Nneka Okwu

The principal address of the charity is:

66-68 Greenwich South Street London SE10 8UN

STRUCTURE, GOVERNANCE AND MANAGEMENT

The Charity is governed by its leadership board on which the trustees are represented. It meets regularly to review, plan activities and monitor the financial position.

Governing document of South Street Baptist Church is a CIO charity governed by its Constitution dated 19 May 2023. It was registered as a charity with the Charity Commission on the same date, receiving charity number 1203167.

The church is a member of the London Baptist Association and the Baptist Union of Great Britain, both of which are Registered charities.

The church also has authority to affiliate with any Christian organisation or charity that the Trustees deem appropriate to further its object and purposes.

OBJECTIVES AND ACTIVITIES

The principal purpose of the Church is to advance the Christian faith, as an evangelical Baptist church, in accordance with the Statement of Faith, including, without limitation, through public religious worship, preaching the Gospel of Christ, the teaching of adults and children, and the provision of pastoral care, support and counselling.

3

The church as a charity carries out further work by putting into practice the Christian faith, in the:

(i) the advancement of education;

(ii) the relief of those in need by reason of youth, age, ill-health, disability, financial hardship or other disadvantage;

(iii) the prevention and relief of financial hardship; and

(iv) the relief of sickness.

The trustees confirm that they have had due regard to the guidance issued by the Charity Commission on public benefit before deciding what activities the charity should undertake.

ACHIEVMENTS AND PERFORMANCE

The Organisation continues to hold successful meetings through the year in which individuals were equipped and educated on the principles and doctrines of the Christian faith.

Many people have professed faith in Christ in our church during the year, some have gone through baptism by immersion and since become members of the church. Others have continued to grow in their faith by attending the church’s discipleship classes and have either graduated or in the process of completing that.

The church also helped many of its members and others from the community in their emotional wellbeing and counselling that their condition of life may be improved.

The church as a charity helped people individually including others from the community who may be struggling with financial debts and taught them money management skills.

FINANCIAL REVIEW

The income of the charity is above £175,000 and was from donations received from members. The church managed its expenses well. The church is an ongoing concern.

This year they had a reasonable surplus at the end of the financial year.

RESERVE POLICY

It is the policy of the Charity to maintain unrestricted funds, which are the reserves of the charity at about 3 months of unrestricted expenditure. This provides sufficient funds to cover any emergency expenditures that may arise from time to time. The charity will seek to build up and maintain this level throughout the year.

4

RISK MANAGEMENT

The charity have assessed all the major risks to which the charity is exposed to, in particular those related to operations and finances of the charity, and are satisfied that systems are in place to mitigate exposure to major risks.

TRUSTEE RESPONSIBILITIES

Under the Charities Act 2011, the trustees are required to prepare a statement of accounts for each accounting year which gives a true and fair view of the state of the church. They are required to:

  1. Select suitable accounting policies and apply them consistently.

  2. Make judgements and estimates that are reasonable and prudent.

  3. 3.State whether the applicable accounting standards have been followed

  4. Prepare financial statements on an ongoing basis.

They are responsible for keeping proper records which disclose with reasonable accuracy the finances of the church at any time and to ensure that such accounts comply with the Charities Act 2011. They also have a responsibility to safeguard the assets of the church and to take reasonable steps to detect fraud or other irregularities.

Approved by the Trustees on 1st December 2024 and signed on their behalf by:

Independent Examiner's Report To the Trustees

SOUTH STREET BAPTIST CHURCH

I report on the accounts of the church for the year ended 31 MARCH 2024 set out on the following pages which have been prepared on the basis of the accounting policies shown in the corresponding pages.

Respective responsibilities of trustees and examiner

The trustees of the church are responsible for the preparation of accounts: they consider that the audit requirement under section 144(2) of the Charities Act 2011 (the 20|| Act), does not apply. It is my responsibility to:

5

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 church 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.

Independent examiner’s statement

(2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached

Joseph M. Nelson (FCCA) Signed: jmnelson J Nelson & Co Chartered Certified Accountants & Registered Auditors 14 Claypole Road London E15 2RJ

6

SOUTH STREET BAPTIST CHURCH STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024

Unrestricted Funds Unrestricted Funds Restricted 2024 2023
General Designated Funds Total Total
Note £ £ £ £ £
INCOMING RESOURCES
Incoming resources from generated funds:
Voluntary income 2 173,222 2,555 0 175,777 185,084
Bank interest received 0 0 0
Grant Received 0 0 0
Operating activities to further charity's objects 3 4,577 4,577 1,650
Activities to generate funds 0 0 0
Investment income receipts 0 0 0
Incoming resources from charitable activities:
Donations, legacies & other similar receipts 4 16,822 17,810 17,244 51,876 47,522
Other loans 0 0 0
Other incoming resources:
Rents from Manse 5 27,000 27,000 23,016
Sundry 0 0 0
Total incoming Resources A 221,620 20,365 17,244 259,229 257,272
RESOURCES EXPENDED
Cost of generating funds:
Cost of generating voluntary income 0 0 0 0 0
Charitable activities:
Establishment costs 6 109,833 0 0 109,833 109,534
Administration and Support costs 7 26,784 0 0 26,784 23,925
Ministry Costs 8 35,916 0 0 35,916 45,688
Mgmt strategy 54,315 0 0 54,315 38,000
Governance costs 0 0 0 0 0
Other resources expended 0 0 0 0 0
Loan repayment 0 0 41,673 41,673 40,287
Total Resources expended B 226,848 0 41,673 268,521 257,434
Net incoming/outgoing resources before transfers C=A-B -5,228 20,365 -24,429 -9,292 -162
Transfers between funds D 9 -24,429 0 24,429 0 0
Net incoming resources before other recognised
gains and losses E=C+D -29,657 20,365 0 -9,292 -162
Other recognised gains/losses
Fixed Assets introduced 10 0 0 0
Total F 0 0 0 0 0
Net movement in funds G=E+F -29,657 20,365 0 -9,292 -162
Funds brought forward 1 April H -4,929 4,952,604 18,083 4,965,758 4,965,920
Funds carried forward 31 March G+H -34,586 4,972,969 18,083 4,956,466 4,965,758

The above funds are all classed as to purpose

All movements of funds and all recognised gains and losses are included above.

The notes on the accounts form part of these accounts.

7

SOUTH STREET BAPTIST CHURCH

Note
FIXED ASSETS
Tangible fixed assets
12
Total fixed assets
A
CURRENT ASSETS
Debtors
13
Cash at bank and in hand
Total current assets
B
LIABILITIES
Creditors falling due within one year
C
14
Net current assets/liabilities
D=B-C
Total assets less current liabilities
E=A+D
Creditors falling due after more than one year
F
15
Net assets/liabilities
G=E-F
CHARITABLE FUNDS
Restricted funds
16
Designated funds
17
Unrestricted funds
Total charitable funds
G		 General
£
0
43,362
12,625
55,987
1,200
54,787
54,787
0
Unrestricted		 Designated
£
5,335,678
5,335,678
5,165
5,165
0
5,165
5,340,843
172,654
Funds		 Restricted
Funds
£
0
3,762
3,762
3,762
3,762
0		 2024
2023
Total
Total
£
£
5,335,678
5,335,678
5,335,678
5,335,678
43,362
42,947
21,552
14,407
64,914
57,355
1,200
0
63,714
57,355
5,399,392
5,393,033
172,654
192,382
54,787 5,168,190 3,762 5,226,738
5,200,651
0
0
54,787
54,787		 0
5,168,190
0
5,168,190		 3,762
0
0
3,762		 3,762
4,378
5,168,190
5,151,241
54,787
45,032
5,226,738
5,200,651

For the year ended 31 MARCH 2024 SOUTH STREET BAPTIST CHURCH accounts shown above represent a true and fair view of the financial position of the charity

Approved by board of directors on 1[st] December 2024

And signed on their behalf by Pastor Gideon Nash TRUSTEE

8

SOUTH STREET BAPTIST CHURCH

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024

1) Accounting Policies

1.1 Basis of Accounting

These accounts have been prepared under the historic cost convention with items Recognised at cost or transaction values otherwise stated in the relevant note(s) to These accounts. The accounts have been prepared in accordance with The Statement of Recommended Practice: Accounting and Reporting by Charities Preparing their accounts in accordance with the Financial Reporting Standard Applicable in the UK and Republic of Ireland (FRS102) issued on 16 July 2014

Recognition of Income

These are included in the Statement of Financial Activities (SOFA) when:

Grants and Donations

Grants and Donations are only included in the SOFA when the general income recognition criteria are met (5.10 to 512 FRS102 SORP)

Tax reclaim on donations and gifts.

Gift Aid receivable is included in the income when there is a valid declaration from the donor. Any gift aid amount recovered on a donation is considered to be part of that gift and is treated in addition to the same fund as the initial donation unless the donor or the terms of the appeal have specified otherwise.

EXPENDITURE AND LIABILITIES

Liability Recognition

Liabilities are recognised where it is more likely than not that there is a legal or constructive obligation committing the charity to pay out resources and the amount of the obligation can be measured with reasonable certainty.

Grants and Support Costs

Support costs have been allocated between the governance costs and other support.

9

Governance costs comprise all costs involving public accountability of the charity and its compliance with regulation and good practice.

SOUTH STREET BAPTIST CHURCH

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024

Creditors

The charity has creditors which are measured at settlement amounts less any trade discounts.

ASSETS

Tangible Fixed Assels for use by the charity

They are capitalised if they can be used for more than one year. They are valued at cost. The depreciation is calculated at 20% reducing balance method.

Debtors

Debtors are measured on initial recognition at settlement amount. Subsequently they are measured at cash.

10

SOUTH STREET BAPTIST CHURCH

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024

2 VOLUNTARY INCOME

Tithes and Offerings
Tax Refunds
Pastor's mission fund
3
OPERATING ACTIVITIES TO FURTHER THE
CHARITY'S OBJECTS
Hire of Church premises
Other reimbursements
Sundries
4
INCOME RESOURCES FROM CHARITABLE
ACTIVITIES
Donations
Legacies
CAP
VBS
Alpha Course
Building fund
Building project loan
Other donations/ others
Media
5
OTHER INCOMING RESOURCES
Rents from Manse
Sundry
6
ESTABLISHMENT COSTS
Staff cost including National Insurance
Pension contributions
Travel expenses
Conference, training & seminars
Insurance - Church
Insurance - Manse
Light, heat and rates , gas and water
Equipment & Refurbishment
Repairs, maintenance & other building exp.
Hospitality
Waste management
Fire extinguishers hire & appliance testing
Cleaning and floral arrangement
Building intruder & Fire alarms
Sundry payments
Promotion and advertising		 11
Unrestricted Funds
General
Designated
£
£
130,524
42,697
2,555
173,222
2,555
Unrestricted Funds
General
Designated
£
£
3,825
752
0
4,577
0
Unrestricted Funds
General
Designated
£
£
12,751
0
0
0
0
4071
17,810
16,822
17,810
Unrestricted Funds
General
Designated
£
£
27,000
0
27,000
0
Unrestricted Funds
General
Designated
£
£
69,202
0
10,537
0
870
0
1,255
0
3,763
0
840
0
10,028
0
0
0
7,437
0
520
0
2,502
0
1,288
0
860
0
732
0
0
0
0
0
109,833
0		 11
Unrestricted Funds
General
Designated
£
£
130,524
42,697
2,555
173,222
2,555
Unrestricted Funds
General
Designated
£
£
3,825
752
0
4,577
0
Unrestricted Funds
General
Designated
£
£
12,751
0
0
0
0
4071
17,810
16,822
17,810
Unrestricted Funds
General
Designated
£
£
27,000
0
27,000
0
Unrestricted Funds
General
Designated
£
£
69,202
0
10,537
0
870
0
1,255
0
3,763
0
840
0
10,028
0
0
0
7,437
0
520
0
2,502
0
1,288
0
860
0
732
0
0
0
0
0
109,833
0		 Restricted
2024
2023
Funds
Total
Total
£
£
£
130,524
137,537
42,697
44,343
2,555
3,205
173,222
2,555		 0
175,777
185,084
Restricted
2024
2023
Funds
Total
Total
£
£
£
3,825
1,650
752
0
0
0
4,577
0		 0
4,577
1,650
Restricted
2024
2023
Funds
Total
Total
£
£
£
12,751
22,170
0
0
0
0
0
0
0
0
17,244
17,244
18,713
0
0
0
4,071
6,640
17,810
0
16,822
17,810		 17,244
51,876
47,522
Restricted
2024
2023
Funds
Total
Total
£
£
£
27,000
23,016
0
0
27,000
0		 0
27,000
23,016
Restricted
2024
2023
Funds
Total
Total
£
£
£
0
69,202
64,952
0
10,537
10,087
0
870
782
0
1,255
174
0
3,763
3,316
0
840
861
0
10,028
11,038
0
0
310
0
7,437
11,925
0
520
183
0
2,502
2,260
0
1,288
1,174
0
860
1,682
0
732
790
0
0
0
0
0
0
109,833
0		 0
109,833
109,534

7 ADMINISTRATION And MGMT strategy

7 ADMINISTRATION And MGMT strategy
Unrestricted Funds Restricted 2024 2023
General Designated Funds Total Total
£ £ £ £ £
Telephones (incl. broad band) 7,844 7,844 7,795
Stationery & supplies 349 349 265
Software & Computers 1,525 1,525 2,608
Photocopier lease 1,160 1,160 1,893
Printing, consumables & Franking 425 425 671
Fees & subscriptions e.g. CCLI, LBA, BUGB, WCA 4,391 4,391 3,398
Bank charges 520 520 523
Other supplies & services (incl. website) 2,338 2,338 6,771
Loan repayments & other contributions 8,231 8,231 0
26,784 0 0 26,784 23,925
8 MINISTRY COSTS
Unrestricted Funds Restricted 2024 2023
General Designated Funds Total Total
£ £ £ £ £
Visiting speakers and musicians 13,468 13,468 11,725
Publicity and Evangelism 1,386 1,386 2,226
Equipment 743 743 13,318
Alpha course, Small Group & Student outreach 103 103 0
Guest services 474 474 287
Posters, banners & other printed material 545 545 12
Balloons and gas for outreach 0 0 0
Ministry departments and grace ministries 18,167 18,167 18,000
Members support 1,029 1,029 120
VBS holiday club and summer activities 0 0 0
Missions 0 0 0
35,916 0 0 35,916 45,688
Mgmt. strategy
Legal, audit, conferences & other contributions 12,315 12,315 0
12,315 0 0 12,315 0

9 TRANSFER BETWEEN FUNDS

Unrestricted Funds Restricted 2024 2023
General Designated Funds Total Total
£ £ £ £ £
-24,429 0 24,429 0 0
-24,429 0 24,429 0 0

This is the amount transferred from General fund to

10 OTHER RECOGNISED GAINS/LOSSES

Unrestricted Funds Restricted 2024 2023
General Designated Funds Total Total
£ £ £ £ £
Fixed assets introduced 0 0 0

Fixed assets are for the use by the church in fulfilling

11 STAFF COSTS

STAFF COSTS
Unrestricted Funds Restricted 2024 2023
General Designated Funds Total Total
£ £ £ £ £
Gross wages and salaries 12 84,741 84,741 81,397
Employer's national insurance costs 14,461 14,461 14,555
Pension contributions 22,537 22,537 17,087
121,739 0 0 121,739 113,039

3.50

2.80

Average number of employees in the year (FTE)

Pastor Gideon Nash was remunerated £30,000 as an

No payment was made to any other trustee during the year.

12 TANGIBLE FIXED ASSETS

TANGIBLE FIXED ASSETS
Cost or valuation
At 1 April 2023
Additions during the year
Disposal
At 31 March 2024
Depreciation
At 1 July 2024
Disposal
Charge for year
At 30 June 2024
Net book values
At 30 June 2024		 Church
Property
Fixtures
Premises
Manse
improv'mts
& Fittings Equipment
Total
£
£
£
£
£
£
4,935,678
400,000
0
0
0
5,335,678
0
0
0
0
0
0
0
0
0
0
0
0
4,935,678
400,000
0
0
0
5,335,678
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
4,935,678
400,000
0
0
0
5,335,678

The value of the Church premises, fixtures & fittings

No depreciation is charged on the fixed assets land & buildings in view of age, constant maintenance and appreciation of valuation.

13 CURRENT ASSETS

Debtors
Tax credit (gift aid) recoverable
Other debtors and prepayments
14
LIABILITIES
Creditors falling due within one year
Accruals
Loan creditors
Utility creditors		 2024
£
43,362
0
43,362
2024
£
1,200
0
1,200		 2023
£
42,947
0
42,947
2023
£
0
0
0

15 CREDITORS FALLING DUE AFTER MORE THAN ONE YEAR

Audit
Other
Loan		 2024
£
0
0
172,654
172,654		 2023
£
0
0
192,382
192,382

This relates to the outstanding balance on the loan

13

16 RESTRICTED FUNDS

RESTRICTED FUNDS
Balance Incoming Outgoing Transfers Balance
1 April 2023 Resources Resources 31 March 2024
£ £ £ £ £
Cash balance b/f in building fund 59,057 23,813 82,870
Contribution to building fund -54,679 17,244 41,673 -79,108
Loan 0
4,378		 17,244 41,673 23,813 0
3,762
MOVEMENTS ON MAJOR FUNDS
Balance Incoming Outgoing Transfers Balance
1 April 2023 Resources Resources 31 March 2024
£ £ £ £ £

17 MOVEMENTS ON MAJOR FUNDS

There is no material movemenet on major funds.

14

Independent examiner's report on the accounts

Section A Independent Examiner’s Report

Report to the trustees
On accounts for the year
ended
Set out on pages
Responsibilities and
basis of report		 Charity Name
SOUTH STREET BAPTIST CHURCH		 Charity Name
SOUTH STREET BAPTIST CHURCH		 Charity Name
SOUTH STREET BAPTIST CHURCH
31 MARCH 2024 Charity no
(if any)		 1203167
1 - 14
I report to the trustees on my examination of the accounts of the above
charity (“the Trust”) for the year ended 31 /03 / 2024.
As the charity's trustees, you are responsible for the preparation of the
accounts in accordance with the requirements of the Charities Act 2011
(“the Act”).
I report in respect of my examination of the Trust’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 Act.

Independent [The charity’s gross income exceeded £250,000 and I am qualified to examiner's statement undertake the examination by being a qualified member of [ACCA]. I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination which gives me cause to believe that in, any material respect:

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Signed:
Name:
Relevant professional
qualification(s) or body
(if any):		 jmnelson 01 FEBRUARY 2025
JOSEPH M NELSON
ACCA

Oct 2018

1

IER

Address: 14 CLAYPOLE ROAD LONDON E15 2RJ

Section B Disclosure

Only complete if the examiner needs to highlight material matters of concern (see CC32, Independent examination of charity accounts: directions and guidance for examiners).

Give here brief details of any items that the examiner wishes to disclose .

Oct 2018

2

IER