Charity No. 1204332 

## Stockwell Baptist Church 

(A Charitable Incorporated Organisation) 

Annual Report and Financial Statements 

14 August 2023 to 31 March 2024 



## **Contents** 

Legal and administrative information 

Report of the Trustees 

Balance Sheet 

Notes forming part of the financial statements 

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**Legal and administrative information** Charity number 1204332 Registered address 276 South Lambeth Road London SW8 1UJ Trustees: Mr Yannick Christos-Wahab Mr Nathan White Mr Olaosebikan Mukaila Ojo Mr Jacob Roberts-Mensah Mr Brian Peters Mr Ekenakede Eghosa Aihie Dr Rachel Owusu-Ankomah Ms Selina Mensah Ms Phyllis Hayden Bank details: 

None 

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## Stockwell Baptist Church Trustees' Report 

The trustees present their annual report and accounts for the first period ended from 14 August 2023 to 31 March 2024. 

## **Structure, governance and management** 

The Charity was constituted as a Charitable Incorporated Organisation (CIO) under the Charities Act 2011 on 14 August 2023. The CIO registered with the Charity Commission on the same day. 

Trustees are legally responsible for the governance and management of the charity. Trustees are responsible for setting strategies and policies and for ensuring these are implemented. 

Risk management 

The charity's trustees have considered the major risks to which the charity is exposed and have reviewed potential risks. Systems and procedures have been put in place to manage the risks and to mitigate any adverse outcomes 

## **Objectives and activities** 

The governing scheme defines the charity's objects as being to: 

a) The advancement of the Christian faith as a Baptist Church and in accordance with the Basis of Faith primarily but not exclusively within Stockwell and the surrounding neighbourhood 

b) Other charitable purposes that as shall, in the opinion of the charity trustees, 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; the advancement of education; and the provision of facilities in the interests of social welfare for recreation or other leisure time occupation of individuals who have need of such facilities by reason of their youth, age, infirmity or disability, financial hardship or social circumstances with the object of improving their conditions of life; 

The advancement of such purposes must be undertaken in a manner that is consistent with the Doctrinal Distinctives and Ethical Statements as may be adopted and amended by the Church from time to time in accordance with the provisions of the Church Rules. 

## **Achievements and Performance** 

The CIO was legally pursuing  the transfer of assets during this period. 

## **Financial review** 

No transactions took place during this period. 

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## **Future plans** 

Stockwell Baptist Church became a registered charity (CIO) in August 2023. We expect that this will enhance the confidence of potential supporters and help fundraising efforts. There was ongoing work throughout this financial period to legally transfer all property, assets and liabilities into the CIO from the old expected charity. 

Stockwell Baptist Church will focus on developing core activities which promote the advancement of the Christian faith. We will carry out a review programmes of existing, related organisations so as to develop and expand our own schemes. 

Stockwell  Baptist  Church  will  also  develop  its  reach  and  capacity  by  seeking  out  partner organisations to whom we can make grants providing they can further our objectives in an efficient and effective manner. 

The trustees are agreed that Stockwell Baptist Church should develop its offerings so that we always appeal to the local area of Stockwell and surrounding areas 

## **Trustees' responsibilities statement** 

The  trustees  are  responsible  for  preparing  the  Trustees'  Annual  Report  and  the  financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). 

The law applicable to charities in England & Wales 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 charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to: 

- select suitable accounting policies and then apply them consistently; 

- observe the methods and principles in the Charities SORP; 

- make judgements and estimates that are reasonable and prudent; 

- state  whether  applicable  accounting  standards  have  been  followed,  subject  to  any material departures disclosed and explained in the financial statements; 

- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation. 

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) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities 

This report was approved by the trustees on 31/01/2025 and signed on their behalf by: 


Rachel Owusu-Ankomah Trustee 

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## **Stockwell Baptist Church** 

## **Balance Sheet as at 31 March 2024** 

## **Period to 31 March 2024** 

|**Fixed assets**<br>Tangible assets<br>Total fxed assets<br>**Current assets**<br>Stock and work in progress<br>Debtors<br>Cash at bank and in hand<br>**Liabilites**<br>Creditors: amounts falling due<br>within one year<br>Net current assets<br>Creditors: amounts falling due<br>afer one year<br>Provision for liabilites<br>Net Assets<br>**Reserves**|**£**<br>0<br>0<br>0|**£**|
|---|---|---|
|||0|
||0<br>0<br>0||
|||0<br>0<br>0|
|||0|
||||
|||0|



Approved by the trustees on: 31/01/2025 and signed on their behalf by: 


Rachel Owusu-Ankomah Trustee 

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**Notes forming part of the financial statements for the period ending 31 March 2024** 

## **1. Accounting policies** 

## (a) Basis of preparation 

The  accounts  have  been  prepared  in  accordance  with  the  receipts  and  payments  basis in accordance with the Charity Commission guidance. 

## (b) Charity status 

Stockwell  Baptist  Church  was  established  under  a  CIO  Foundation  constitution  and  is  a registered with the Charity Commission under the reference of 1204332. The Trustees are appointed and function in accordance with the Constitution. 

- (c) Fund accounting 

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 and which have not been designated for other purposes. 

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The cost of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements. 

## (d) Receipts 

All incoming resources are included in the Receipt & payment Accounts when the charity actually obtains legally entitled income. 


) Payments 

All expenditure is accounted for on payments basis and has been classified under headings that aggregate all costs related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with use of the resources. 

## 2. Member liabilities 

The members of the CIO have no liability to contribute to its assets and no personal responsibility for settling its debts and liabilities. 

## 3. Debt outstanding 

There is no particulars of any debt outstanding at the date the statement of assets and liabilities which is owed by the Save an Orphan (International) and which is secured by an express charge on any of the assets of Stockwell Baptist Church. 

## 4. Related Parties 

Controlling entity 

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The charity is controlled by the trustees. During the year the Trustees received no emoluments or incurred any expenses using Trust funds. 

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