y5 L3 London Baptist Property Board REPORT OF THE DIRECTORS and FINANCIAL STATEMENTS for the year ended 31st December 2020 Company No. 88218 registered in England Registered Office and Principal Office UNIT C2, 15 DOCK STREET LONDON E18JN *M5LK8B5" 2710512021 CIXIPANIES HOUSE #137 THE LONDON BAPTIST PROPERTY BOARD LIMITED REPORT OF THE DIRECTORS and FINANCIAL STATEMENTS for the year ended 31 DECEMBER 2020 Offlc•r4 and K•y Managoment Personnel: Chaim?an.' Revd PAUL A WINCHESTER. ACIB MCT Treasur8r Mr ANTHONY J A PIKE, MA FIA FCSI Tnist Olffcer Mrs JACKIE R PENISTONE. CEng MIMeche Msc Bsc LLB {unfrl 31 Alareh 2021J Mr J MARTIN SHAW. JP Dip LS Cert BFM 1 Aprf 2021J Solicilors.. Carter Lemon Camerons LLP, 10 Adersgatg Straec London. EC1A 4HJ Sufveyots." Rapleys LLP. 51 Great Marlborough Str8e( Lorthn, W1F TJT Bankers.. Bardays Bank Barclays C￿1)merCIal Bank. 1 Churthill Pla¢0. London. E14 5HP Auditor. Jacob Cavenagh & Skeet. Chartered A¢￿Unt9ftts 5 Robin Hood Lane. Sutton. SM12SW Contents Page Report of the Directors Directors at 31° December 2020 Report of the Auditor Statement of Financial A(*vibes (Ind￿1n9 IrKom8 and Expenditure Account} Balance Sheet Statement of Cash Flows Notes.to the Financial Statements. Churches and AsKKaations for which the Company acts as Custcmlian Trustee 10 12 .13-20"" 21-23 THE LONDON BAPTIST PROPERfi BOARD LIMITED REPORT OF THE DIRECTORS The directors present their annual report and the audited financial ststements for the year ended 31* December 2020. which have been prepared in accordance ￿th the Companies Ad 2006 and in accordance with the Charities Statement of Recommended Practice (Charities SORP (FRS 102)> and Financial Reporting Standard 102 (FRS 102). AIMS and OBJECTIVES The principal object for which the company was fornied in 1906 is set out in the company's Memorandum and Artides of Association: The advancement of the Christian religK)n in particular by thè means and in accordance with the principles of the Baptist denomination. In furthering this aim, the company ser¥es the work of the Baptist denomination by (a) acting as custodian or holding trustee for churches and other organisations associated wilh the Baptist denomination., and (b) operating a deposit and loan fund in order lo make loans avalable to churches in mernbership with the London Baptist Associalion and thurches and organisations in trust with the company for the purpose of the purchase. repair or improvements of church propety. The company operates principally. but not exclusively. ui London. The company has continued to focus on its core tasks throughout the year, IrKI￿￿lng offering support to churches with an annual income of over £11J),fy)O as they have registered with the Charity Commission. HOW THE COMPANYS ACTNMES DELIVER PUBLIC BENEFIT The directors are aware of and have regard to the Charity Commission's published guidance on public benefit. The company delivers a public benefit by offering services to local Baptist churches that facilitate the provision of places for public worship and premises froffl vthich local churches are able to serve the needs ofthe community in Christian outreach. The company also offers support and guidance to the trustees of local Baptist churches tt) help them to comply with the ￿quIrernents of charity law and to folk)w best practice in their responsibilities as charity Irustees. In addition to this any surplus that d08s not need to be retairied by th8 company for its continuing work is given by way of grant to the London Baptist Association ('L8A'). with a recornmendation to d8signate a proportion to the Baptist Union Home Mission appeal. Both the LBA and Baptist UnTron are r8gistered charities and serve the public benefit by the promotion of the Christs'an faith. The Company as holding trusteo The company acts as custodian twstee for 317 churches and certain other organisations as k'sted at the back of this document. A record of the deeds is maintained to ensure that these assets are segregated from the company's own assets. ln most instsnces. a trust deed will establish the role of the company as the cuslodian or holding trustee. In the Course of the year under review, six properties have been transferred from the Boar(l. two properties have been sold, three properties have been transferred to the Board. Iwo properties have been purchased and tsken into trust and eight leases have been sealed relating to properties held in trust. In addition to Ihis activity. approval was given for alterations to church wemises and the staff of the company offered support and guidan¢e to churches on a wide range of matters. Page 1 THE LONDON BAPTIST PROPERTY BOARD LIMITED REPORT OF THE DIRECTORS (continued) The Deposlt and Loan Funds The deposit and loan funds operated by the Company serve a public benefrt by enabling churches to have access to loan funding in order to purchase. repair or improve premises that are used for public worship or Ihat further the charilable objects of the churches. Four new loans vRre agreed by the directors during the year, enabling churches to refurbish and purchase manses and develop church buildings. The general eCOr￿mi¢ environment has been massively impacted by the COVID 19 pandemic. with a sharp contraction in UK and also global economic activity. Interest rates have been well below historically normal levels since the global financial crisis a decade ago and now look set to remain so for Ihe foreseeable fulure. The directors continue to monitor dosely the company's inveslments. with a view to maximising retums without undue risk. and seek to set appropriale and equitable rates of interest payable both to depositors and by borrowers. tsking into account the very low interest rate environmenL During the year, the dep￿t fijnd reduced by £2.096.445 to £13.787.119 al 31 December 2020. The large fall was due to a ccthbinalion of compelitive pressures for funds, financaal prv&su￿ on some churches as a result of the pandemic and a large withdrawal to fund a propety purchase. In the same period. the loan fvnd reduced by £262,432 to £3,615.879. The Board recognised that some churthes would face financial pressures a5 a result of Ihe pandemic lockdown restrictions and offered the fa(abty loan repayment holidays and short term loans. Loan repayment holidays were granted to thirteen churches. Future Plans The company intends to continue its present actiwitses as it supwjrts the work of Baptist thurches in and around London and to carry cwt its duties as holding trustee of such thurches. During 2020 the directors carried out a review of the functions of the company with a view to providing greater assistance to churches. particularty in the a￿a$ of govemance and building mainlenance and deVelopff￿L a result, the directors agreed to move the Trust Officer role from part time to full time and are pursuing fvrther initiatives in the areas of Church govemance, maintenance and use of Church buildings and manses and expanding the deposit base and lending functions of the Board. FINANCIAL REVIEW The financial results of the company for the year 2020 are sèt out in the accompanying financial slatem8nts. There was a positive movement of funds in the year. after revaluation adjustments. of £103.874 (2019.. positive movèment of £69, 751). The directors resolved during the year to make an appropriation of £70,000 to the LBA (2019." £70,000). The directors have also resolved to make an appropriation of £70,000 lo the LBA in the year 2021. The company does nol measur8 tts success in lenns of its financial results but by the measure of how w811 it serves the needs of the churthes held in trust. The financial objective of the Gompany is primarily to cover the costs of its activities through the operation of the deposit and loan funds. and out of any surplus to make appropriations to the LBA. This objective was met in the year. Investment Polky and Flnanclal Contmls The directors formally reviewed their investment policy and financial control procedures during 2020 and adopted an amended policy and controls. The directors reaffirmed their cautK)us approach to investment. seeking both to safeguard Ihe capital held on behaw of churches and to relain sufficient short temi funds to maet potential demands by depositors or borrowets. Page 2 THE LONDON BAPTIST PROPERTh BOARD LIMITED REPORT OF THE DIRECTORS (continued) With regard to longer temi investments, the company holds Charifund income units with the Intention of providing both income and Capital growth. Investments have also been made in propety with the dual airn of assisting the LBA or particular churches and bringing longer-temi capital growth for the company. During 2020 8 further house was purchased and let on commercial terrns to the LBA as a manse for the Regional Team Leader The short term deposits are currently spread across ffive financial institulKJns. wlth retums being kept under regular review. Capital and Reserves As the principal financial activty of the Company is to make loans available to churches and organisations {see °Objects and Activities"above) and appropriations are • only made out of operating profits, the policy is to accumulate surpluses realised from the disposal of tangible assets and investments in the General Investment and Contingency Reserve. The accumulated reserve is used to support the expansion of the future lending business of the Company and is Gonsidered adequate to SUPFh)rt the ongoing activities of the wrnpany, Fundralslngpolky The company asks all churches that are involved in a property trans8thn to make a dOnat￿n towards the expenses incurred by the cornpar)y. The company also requests a small annual donation to cover costs from churches for whom the company hokls investw*nts as nominee. Other than this, the company does not actively seek third party donations. GOVERNANCE and MANAGEMENT Govoming do¢um•nt The company vms Created in 19)6 by the coun￿ of the LBA The c(xnpany is incorporated under the Companies Acts (Registered No: 88218). is a registered charity {Charity Registration No: 249768) and is govemed by its Memorandum and Artic4es of Assoaation. The current Memorandum and Articles of Assooation were adopted by the company on 23 July 2002. Amendrnents to the Articles of Association were adopted on 25 November 2003 and on 24 January 2006. Further amendments were adopted in 2009 to make provision relating to directors. conflicts of interesL Its registered office is Unit C2. 15 Dock Street. London, E1 8JN. With effect from 1 January 2002. all the "A" shares in The London Baptist Prop8rty Board Limited were transferred to the ownership of the LBA. so that the company is a wholly-owned subsidiary of the LBA. The Board of Directors The directors of the company are appointed by the LBA. The directors who have seThed during the year and to the dats of this report are listed on page 6. In the year 2020. the directors met on ewht occasions. The directors continue to be grateful for the attendance and assistance of representatives of Carter Lemon Camerons {soli¢itors) arKI Rapleys Isurrfeyors>. The directors have received fomal training on their legal responsibilities as directors of a charitsble company. In addition the presence of professional adwsers at all meetings continues lo ensure that Ihe direciors have access to help and guidance vthere necessary in the exercise of their responsibilities. In dealing with loan applications. the directors are indebtsd to two honorary Loans Offir￿r$. Mr David Golder and Mr Paul Scott-Evans. No.dlrector_of_the_coMpany-receivRd￿eMuneralIon_0f_a￿klnd_b￿yid￿ffjLhQ1dinothaL0ffTrCft.. Page 3 THE LONDON BAPTIST PROPERTY BOARD LIMITED REPORT OF THE DIRECTORS (continued) Risk Alanagement Th8 company has conducted an assessment of the major risks to which it is exposed and has reviewed the risks in the course of the year. Measures have been taken to mitigate risks. Staffing The key management personnel of the company as listed at the front of the report are in charge of directing, controlling. running and operating the charity on a day to day basis. The day to day work of the company ts conducted by its staff. who have continued to serve the company effectively and efficiently through the course of the year: Mrs Jackie Penistone (Trust Officer), and Ms Deborah Scott (Bookkeeper). The company also benefits from the work of the office stsff of the LBA: Mr Noman Kincaid (Administrator) and Ms Cynthia Arthur (Administration Assistant). After 14 years of service. the Trust Officer has given notice of her intention to retire on 31 March 2021. Following a thorough recruitment process, the Diredors appointed Mr Martin Shaw as her replacement and he commenced employment on 1st February. Rolated partles The company is a wholly-owned subsidiary of Ihe LBA The staff are iointy ernployed by the company and the LBA. The company pn)vides financial supwrt to the LBA through an annual appropriation Irom available surpluses. The work of the company is viewed by the directors of the LBA as an integral part ofthe support and guidance that the Association is able to offer to its member ¢hur¢hes. DIRECTORS, RESPONSIBILMES The directors are responsible for preparing the annual report and the financial statem&nts in accordance with applicable law and Unrted Kingdom Accounting Stsndards (United Kingdom Generally Acceptsd Accounting Policies). Company law requires the directo￿ to prepare financial ststements for each financial year. Under Ihat law the directors musl not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of incoming resources and application of resources, including the income and expendilure of the charitable company for that period. In preparing these financial slatements Ihe directors are required to: select suitsble a¢￿Unting policies and apply them consistenty; observe the methods and principles in the Charities SORP: make judgements and estimates that are reasonable and prudenl: state whether applicable UK Accounting Standards have been followed, subject to any malerlal departures disckjsed and explained in the financial statements" and prepare the finanrial ststements on the going concem basis unless it is inappropriate to presume thal the company will continue in its operations. The directors are responsible for keeping proper accounting records whrch disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with charity law and the Companies Act 2(Y)6. They are also responsible for safeguarding the assets of the charilable o)mpany and hence for taking reasonable steps for the prevenlicffi of fraud and other irregularitie5. The directors are reswn$ible for the maintenance and Integrity ofthe corporate and financial infomation for the company included on the LBA wetFsite. Page 4 THE LONDON BAPTIST PROPERTh BOARD LIMITED REPORT OF THE OIRECTORS (continued) DISCLOSURE OF INFORMATION TO THE AUDITORS In so far as the Directors are aware at the tim8 of approving our Directors. Annual Report. There is no relevant infonnation. being infomation needed by the auditor in connectTron with preparing their report, of which the Charity's auditor is unaware. and The Trustees. having made enquiries offellow directors and the chari￿s auditorthat they ought to have individually tsken. have each taken all steps that helshe is obliged to tske as a Director in order to make themselves aware of any relevant audit informatK)n and to establish that the auditor Is aware of that information. AUDITORS The directors intend to re-apwnt Jacob Cavenagh & Ske8t as auditors of the company for the ensuing year. SMALL COMPANY The above report has been prepared in accordance the special provisions of Part 15 ofthe Cornpanies Act 2006 relating to small companies. Signed behalf of thè Dlrectors Anthony J A Pike Director 20 April 2021 Page 5 THE LONDON BAPTIST PROPERTY BOARD LIMITED DIRECTORS DURING THE YEAR ENDED 31st DECEMBER 2020 AND TO THE DATE OF THIS REPORT The followrvj Directors seThed throw the year and to Ihe date of this rep)rL except as shown: Revd Paul A Win¢hest•r BD ACIB MCT (chaI￿an) Fom8r Regional Managing Director. UK and Europ8, National Westminster Bank plc. Fornier Minister (and Trustee) of Slone Baptist Church, Dartford. Member of Crayford Baptist Church. Rovd Philip E Bamard BTh Regional Minister (Team Leader). London Baptist Association. Member of 8apts.sts Together Core Leadership Team and Baptist Union Council. Member of Mitcham Lane Baptist Church. Rev Lge G Johnson LBA Regional Minister Eastem. North Eastem arKI Harri￿ay. Trustee of Churches Together in Essèx and East London. Member of Loughton Baptist Church. Mr Olusegun O Obidipe ACMA MBA Charte￿d Management Accountant. Senior Pather of Graceolu & Co. Director of Baptist Union Corporation Ltd. Directorrrreasurer of Canning Hall TrusL Member of HarTingay United Church-Baptist Mr Anthony J A Pike MA FIA FCSI rfreasurer) Fellow of the Institute of Actuaries. Chartered FCSI. Forrner Head of Investments. BP Investment Management Limited. Directorof Baptist Pension Trust Ltd and Moderator of the Investment Committee. Trustee of Scripture Gift Mission Pension Fund. Fon1￿ Treasurer (and Trustee) of Croham Road Baptlst Church. South Croydon. Mr Davld K Reader BA PGCE ACIB crrA (MIEX) Formerly Regional Director, Transaction Ser¥iC8S . Nalional W85trninster Bank PLC. Managing Director DKR Trade Training & Support Limited. Member of Edmonton Baptist Church Mrs Syfvla C Salamanca-Espln Bsc MNAEA Acquisitions & Disposal Manager, London Cty MissN)n. FIXMe￿ Business Manager. Vanet Prop8ty Asset Management Ltd. Secretsry (and Trustee) of the LoThdon Spanish-speaking Charismatic Baptist Church. Mrs Monlca Slslmayl A¢￿untrnL Treasurer (and Trustee) of St(kn N￿1r￿n Baptist Church. Page 6 INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THE LONDON BAPTIST PROPERf< BOARD LIMITED Opinion We have audited the financaal statements ofThe London Baptist Propety Board Lirnited {the'charity') for the year erKled 310ecember 2020 which cornprise the Statement of Financial Activities. the Balance Sheet, the Statement of Cash Flows and the notes to the financial slatemenls, induding a summary of signfficant accounting policies. The financial ￿porting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards. including Financial Reporting Standard 102 The Finanaal Repotting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). In our opinion the financial statements.. give a true and fair view of the state of the d￿rItable CoMpan￿S affairs as at 31 Oecerrt)èr 2020 and of its incoming resources and application of resources for the year then ended: have been properly prepared in acwrdance with United Kingdc*n Generally Accepted Accounting Practice: and have been prepared in aca)rdanrA with the requirements of the Companies Act 2006. Bas1$ for oplnion We conducted our audit in accordance with Intemalional Stsnd8ryJs on Auditing (UK) (ISAS (UK)) arthJ applicable law. Our reS￿nSibIli￿es under those starKlards are fijrther described in the Auditorfs responsibilities for the audit of the financial statements section ofour report. We are independent ofthe charitable company in accordance with the ethical requirements that are relevant to our audit of the finawal ststements in the UK. induding the FRC'S Ethical Standard, and we have fulfilled our other ethical reswnsibiltties in accordance with these requirements. We believe that the audit eviden￿ we have obtsined is sufficient and appropriate to provhje a basis for our opinion. Concluslons relatlng to golng ¢on¢ern In auditing the financial statements, have ￿lduded that the directors. use of the going corbcern basis of accounting In preparation of the finanual ststeffftnts Is apprcyiat8. Based on the work we have perfOrn￿d. we have nol identified any matefial uncertainties relating to events or conditions that. individually or collectively. may t￿$1 swJnifi¢ant doubt on the Charity's abilty to continue as a golng concern for a period of at least 12 months from when the financial staternents are authorised for issue. Our responsibilities and the responsibilities of the dire(knrs wtth respect to going ￿nCern are described in the relevant sections of this reporL Other Infornwtlon The other infornation comprises the inf0m￿tion induded in the annua report. including the directors, rèport, other than the financial statements arKI our audi￿8 rep)rt thereon. The directors are ￿spOnsible for the other infomiation contained viithin the annual report. Our opinion on the financial statements does not cover the other infoThation and, except to the èxtent otheThvise expliuty stated in our report. ￿ do not express any form of assurance condusion thereon. Our responsibility is to read the other information and. in doing so. consider whether the other information is materially inconsistent with the financial statements or our krN)wledge obtained in the course of the audit, or othepmse appears to be matsrially misstated. If we hjentrfy such material inconsistencies or apparent matèrial misststements. we are required to determine whether this gives rise to a material misststement in the financial statements themselves. If. based on the work we have performed, we condude that there is a material misststement ol this other information. we are required to report that facL We have nothing to rewrt in this regard. Pag8 7 INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THE LONDON BAPTIST PROPERTY BOARD LIMITED (continued) Opinlons on other matters prescribed ty the Companies Act 2006 In our opinion. based on the work undertaken in the course of our audil: Ihe infonnation given in the directcKs' report for the finwK?al year for which the financial statements are prepared IS consistent with the finanoal statements.. and Ihe directors. report has been prepared in accordan￿ %Mth applicable18gal requirements. Matters on whleh w• are required to report by exception In the light of the knowledge and understarKling of the charity ar¥J its envir<)nment obtained in the course of the audit, we have not identified material misstatements in the directors. reporL We have nothing to report in respect of the followiry matters in r*tion to ￿1¢h the CompanEs Act 2006 requires us to report to you if. in our opinion: adequate and proper accounting records have rK)t been kept. or retums adequate for our audit have not been received from branches not visited by us: or the financial statements are not in agreement the acrnuntiTha records and retums: or certain disclosures of directors, remuneration specified by law are not made; or we have not received all the infomialion and explanations we require for our audit: or the directors were not entitled to prepare the financial ststements in acconlance Y￿th the small companies regime and take advantsge of the srnall cornpanies exemptions in preparing the directors. report and from the requirement to prepa￿ a slrategK reF*yI. Responslbllltl•s of dlrectors As explained more fully in the directors. responsibilrttes statement the directors. (who are also the trustees of th charitable company for the wrposes of charity law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view. and for such intemal control as the trustees detemine is necessary to enable the preparation of fi[w￿la1 statements that are free from Material misstatemenL whether due to fraud or error. In preparkng the financial statements, Ihe dlrectors are respons1￿8 forassessing Ihe chariws abilty to continue as a going cOr￿e￿, disdosing. as applrcable. matters related to g￿ng COr￿ern and using the going concem basis of accounting unless the directors eilher interKI to liquidate Ihe rnmpary ￿ lo cease operations. or have no realistic altemative but lo do so. AudltoVs responslbllltle5 for the audit of the financlal statements Our objectives are to oblain reasonable assurance about whether the financial statements as a whole are free from material misststement. Whetherd1￿ to fraud or ern)r, and to issue an audf(orfs reportthat includes our opinion. Reasonable assurance is a high level of assurance. but is not a guarantee that an audit conducted in acc¥)rdance with ISAS {UK} viill always detect a material misststement when it exists. Misstatements can arise from fraud or error and are considered material rf. indimdually or in the aggregaie. they I￿Uld reasonably be expected to influence the economic dec4sions of users taken on the basis of these financial statements. Irregularities, induding fraud. are instances of non<0mplian￿ ￿th laws and regulations. We design procedures in line wilh our responsibilities. outlined above. to detect material misststements in respect of irregularities. including fraud. The extent to which our procedures are ￿pable of detecting irregularities. including fraud is d8tailed below: Based on our understanding of th8 charity. we idenlified that th8 principal risks of norKompliance with laws and regulations related lo financial reporting legI￿atIon and we consid8red the ex1ent to which nonse that arise from error as they May involve deliberate toncealment or ￿￿uSion. A further description of our r8sponsibililies for the audit of the fjnarKial staterrents is located on the Finawal Reporting Council's website at httpjlw4￿.frC.Org.uk1avdltQr5re￿slb1llt19s. descripti￿ fomis part of ￿Jr auditorfs reporL Use of our report This report is made sO￿ty to the charitable companys members. as a l)ody. in a(xxxdance Mryth Chapter 3 of Part 16 of the Companies Act 2006 and regukqttons made under Ihat Ad. Our audit work has been undertaken so that we might state trj the charitable companys members those matter5 we are reqUI￿d to state to them in an auditors. report and for no other purpose. To the fullest extent pemitted by law. we do not a￿p1 or assume responsibility to anyone other than the charitable company and its members as a body. for our udit work. for this rewrt, or for the opinions we have formed. hllrlam Hickson FCA Isonlor Statutory Audltor) for and on behalf of Jacob Cavenagh & Sk￿t Statulory Audltor Chartornd Accountants S Robin Hood Lane Sutton Surrey SM12SW Page 9 THE LONDON BAPTIST PROPERTY BOARD LIMITED Registered Chawity No: 249768 Company No.. 88218 STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31" DECEMBER 2020 {incorporating the Income and Expenditure Account) 2020 2019 Genoral Funds Designated Funds 2020 Total 2019 Total Noto Income from: Charitable actfritss - Loan interest Investments Donations arKI legacies Total Income 111.066 139.409 8,199 111,066 139.409 151,623 155,409 258 674 321381 Expenditure on". Raising fvnds Investrnent propety marwent costs 21.956 21.956 14,153 Charftabk actNths Appropriation to London Baptsl sociation Interest payable on dep)sts Supp)rt and,goverriance costs - 70,(YXI 42.654 122423 70,CK)O 42,654 122423 70,000 120,583 119075 Total expendilurn 257 033 257.033 323811 Net gainsl(k)sses) on nvestments 102.233 102.233 72,181 Not Incomel(expendibxe) 103.874 103.874 69,751 Transfws between funds Net mov•ment in funds 103,874 103,874 69.751 Reconcllation of fund$ Fund balances brought forward 9.10 1257 509 2 316 401 3 573910 3 504 159 balances carrEd fop•Mrd 2 316 401 3573910 All of these results relate to continuirKJ actiwties. Page 10 THE LONDON BAPTIST PROPERTY BOARD LIMITED Registered Chanty No.. 249768 Company No: 88218 BALANCE SHEET AS AT 315t DECEMBER 2020 2020 2019 Nolo Fixed assets Tangible assets Investments 4.619 1882 745 1,887,364 2 859 978 2,862.887 Current assots Debtors (including £2.412,C66 (2019.. £2,677.073) recoverable after more ihan one year) Short term detmxts - bank Cash at bank 3.656.694 3.￿2.452 7,079,977 12.077,526 1614 031 17,594,009 14.627.354 Credltors: Amwnts falkvJ due withn one year Net current assets 13 8Q)817 15895 823 1698 186 Nat assets 3 689 424 Capftal and reserves Ca￿d up share capital General Funds.. Income and expendllure account Revaluatron reserve 11,640 11.640 81.847 80,206 1177 303 1.361.383 1.257.509 Designat8d FuThJs: General investment and Contr￿encES reserve Quinquennial survey supp(xi fwKI 10 2.313.186 2.313,186 2316401 2 316401 Total shareholders. funds 3 689 424 The finandal statements have been prepared in accordance *ryth Ihe special provIs￿nS relating to small companiès within Part 15 of the Companies Act 2006. The financial ststements were approved by the Directors on 20 Apnl 2021and signed on their behalf b Anthony J A Plke Director Page 11 THE LONDON BAPTIST PROPERTY BOARD LIMITED Registsred Charity No.. 249768 Company No.. 88218 STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 3151 DECEMBER 2020 2019 Note Cash provided by operating activities (1.985.306) 837,769 Cash flows from Investing activities Interest received Rental inccvne from investrnent propertEs Proceeds on disposal of tangible ￿ed assets Payments to acqure tang*1￿ frKed assets 93.525 45.884 125.925 29.484 718,140 Cash provided by investing activities 868 759 Net cash Infflow (2,720.897) 1,706,528 Cash and cash equivaknts at 1st January 13 691557 11985029 Cash and ea8h equivalents at 31st December 10 970 660 13 691557 i) Cash flows from operating activities Net Income 103,874 69.751 Adjustments for.. Interest recerrfed shown ¥1 ¥ivesting ￿tivi￿e$ Rentsl incixne reGeNed sh¢Jwn in investing a¢livit*s Deprecrdtion {Gains)IIoss8s on inv8stm8nts Charoe in provsions Ilncrease)Idecrease in debtors Increase n creditors (93,525) (125,925) (45,884) 1.710 (102.233) (29,484) 1.416 (72,181) 245,758 (2.095.006) 283,158 711.034 Cash provlded by operatlng activities 837 769 Page 12 THE LONDON BAPTIST PROPERTY BOARD LIMITED NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31st DECEMBER 2020 ACCOUNTING POLICIES The principal accounting policles adopted. judgemenls and key Sources of estimatlon uncèrtainty in the preparation of the financial statements are as follows: 1.1 Accountlng convention The financial statements have been prepared under the Companies Ad 2006 and in accordance with the Charities Statement of Recommended Practice (Charities SORP (FRS 102)) and Financial Reporting Standard 102 {FRS 102). The financial stalemenis are drawn up on the historical ￿st basis of accounting. as modified by the revaluation of investment properties and other investrnents. The financial statements are pr8pared in sterling rounded to the nearest pound. There are no material uncertainties about the charity's ability to continue in operation. The London Baptist Property Board meets the definition of a public benefit entity under FRS 102. It is an incorporated company with Sha￿ capital. registered in England wtth registered office at Unit C2, 15 Oock Street London. E1 8JN. 1.2 Inv•slments Investment properties Investrnent properties are shown at fair value at Ihe balance sheet date and surplusesl{deficiencies) arising on the revaluation are treated as unrealised surplusesl(losses) which a￿ ¢red¢tedl{debited) directly to the revaluation reserve. Other investm•nts Other investrnents are ststed at market value. 1.3 Flxed assets Tangible fixed assets are induded at cost less depreciation. The useful lrfe of Ihe office equipment is estimated to be 4 year5 and of compuler equipment is estimated to be 3 years. Depreciation is provided at rates calculated to write off Ihe ¢x>st. less estimaied residual value, of each asset over its useful life. Computsr and office equipment with a cost of over £500 is capitalised. 1.4 Dlvldends and Int•r•st r•celvable Dividends and interest receivable on govemment and commercial securities are recognised on an accruals basis. 1.5 Grants and approprlatlons payable Grants and appropriations payable are recognised once payment has been madè. 1.6 Expense alloeatk•n The company tsffies out no separate fundraising activities. In wew of the company's principal activities, all administrative support costs and govemance costs are regarded as charitable expenditure. (Note continued on next page) Page 13 THE LONDON BAPTIST PROPERTY BOARD LIMITED NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31st DECEMBER 2020 (continued) ACCOUNTING POLICIES (continued) 1.7 Income Voluntary income and donalyons {induding legacies) are accounted for once the charity has entittement to the income, it is probable the income will be received and the amount of income receivable can be reliabty measured. Loan interest receivable and interest payable on deposits is recognised on an accruals basis. 1.8 Debtors Grants receivable and other debtors are induded at the settlement amounl due. Prepayments are valued at the amount prepaid. 1.9 Cash at bank Cash at bank includes cash and short temi highty liquid investrnents wtth a short maturity of three months or less from the date of opening of the deposiL 1.10 Creditors and provisions Creditors and provisions are recognised Whe￿ Ihe charity has a present obligation arising from a past event that will probably result in the transfer of funds to a third paty and the amount due to settle the obligatK)n can be measured or estimated reliably. Credtiors and provisions are recognised al their settlement amounL 1.11 Financial instrurnents The charity only has financial assets and liabilities of a kind that qualify as basic financial Instruments. Basic financial instwments are initially reco3nized at transaction value and subsequentty measured using amortised cost on the effective interesl rate melhod. 1.12 Fund accounting Details of the nature and purpose of each fund is given in Note 10. 1.13 Pensions The charity contributes to the Baptist Pension Scheme. via the London Baptist Association. in respect of its employees. This is a deffined (x)ntribution scheme and contributions are accounted for as they fall due. 1.14 Crltical aecounting estimates and arèas of judgement In preparing financial statements it is necessary to make certain judgements. estimates and assumptions that affect the amounts ￿COgnized in the financial statements. The following judgements and estimates are considered by the Trustees to have most signfficant effect on amounts recognized in the financial slaternents: 1. The judgement in the valuation of properties 2. The presumed economic lrfe of properties and the depreciation or lad( thereof 1.15 Golng concern Th8 trustees have prepared detailed forecasts and cash flow projections which they believe are based upon reasonable assumptions with no material uncertainties. The forecasts show that the charity should be able to operate for the foreseeable future and thus the trustees consider it appropriate to prepare the ffinancial statements on a going concem basis. Page 14 THE LONDON BAPTIST PROPERTY BOARD LIMITED NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31#t DECEMBER 2020 (continued) 2 INVESTMENT INCOME 2020 2019 Rentsl income from ¥ivestTr*nt propertEs DN¥Jends and interest received: Other investments Interest r8ceivable'. Short term deFrt)sts 29,484 9213 11.413 114512 155 409 139409 3 SUPPORT AND GOVERNANCE COSTS 2019 Employment ¢osts Office rental and SerV￿e charge Professional fees Other charges Loss on dk8posal of computer & offre equipffent DepreciatK)n of comfv and ¢Jfflce equ¥￿ent (see note 4) Audttor's remuneratK Other governance costs 38.513 21,256 36.496 15.232 54,463 17.485 25,971 14,460 1.710 5.400 1.416 5.280 122 423 119075 Employment costs coryrise: SalarEs Nalb)nal insurance PenS￿)n contributij 32.815 2.416 43,964 2,965 There were four employees (equivalent to two full-time employees) during the year. There were no employees who r8C8ivéd employe8 benefits of more than £60.000. The key management personnel received employee benefits of £21.816 (2019: £21.311) during the year. P4e 15 THE LONDON BAPTIST PROPERry BOARD LIMITED NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31st DECEMBER 2020 (continued) 4 TANGIBLE FIXED ASSErs Computer and offlce equlpment Cost orvaluatlon A 1st January 2020 Addit￿nS Disposals At 31st December 2020 10,525 Deprn¢iati¢>n At 1st January 2020 Chargè for year Released on dsposal At 31st December 2020 5,906 1.710 Net book value At 31st December 2020 At 31st December 2019 5 IP4VESTMENTS Other Investment Freehold Investment Total Valuatlon At 1st January 2020 Revaluati￿ SUrp￿S AdditK)ns At 31st December 2020 228,345 (39,61n 1,654.400 141,850 875 000 2 671250 1,882.745 102,233 2 859 978 Hlstorfcal cost At 31st December 2020 At 31st December 2019 The freehold investment properties were professionally valued at 31 December 2020 by independent valuers who held recognised and relevant professional qualifications and have experience in the location and type of the properties being valued. The Directors have taken professional advice Concerning the changes in values in the year and have adopted revised valuations at 31 December 2020 totalling £1,796,250 in these accounts. Page 16 THE LONDON BAPTIST PROPER￿ BOARD LIMITED NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 3161 DECEMBER 2020 (continued) DEBTORS 2020 2019 Advances (fnanckql assets measured at arrK)rtised cost) Churches Manses Denominational so¢iet*s 3,197,556 307,247 111076 3.615,879 3,285,422 495,824 3.878,311 Prepayments Accrued incom8 2.915 5,541 3 902 452 7 CREDITORS: Amounts fallng due vAIMn one y&¥ 2Q20 2019 7 day nOt￿e deposts Churches DenoMy￿1￿>naI sOck8￿S . 12.421.327 1365 792 13.787.119 14,110.264 1773 300 15,883.564 Accru* Due to LorKlon Baptst AssocIa￿n 13.698 7.572 13 800 817 15 895 823 8 SHARE CAPfTAL Authorfsed 2020 2019 Allotted, Issued & fulty 2020 2019 Ordff￿ry shares of £10 each: A shares B shares 411 411 4,110 4,110 The A shares ¢arry one vote per shar8. The B shares have no voting rights. Page 17 THE LONDON BAPTIST PROPERTY BOARD LIMITED NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31$1 DECEMBER 2020 (continued) 9 GENERAL FUNDS Income and Expenditure Rovaluation Reserve Total funds At 1st January 2020 Net income before rNestment gay Net gains on nvestnpnts Transfer to General Investrnent Reserve At 31st December 2020 1.177.303 1.257,509 1.641 102.233 1.641 102.233 1279 536 1361383 At 1st January 2019 Net incom8 before ￿VeStMent g8• (Losses) on investments Transfer from General Reserve At 31st D8cember 2019 82,996 (2.430) 39,640 1.686,523 1.769.519 (2.430) 72.181 581 761 1257 509 32,541 1 177303 10 DESIGNATED FUNDS General Investment Quinquennial and contlngencles suNey support fund Total funds At 1st January 2020 Transfer from Incomé and Exp&Mliture At 31st December 2020 2,313,186 3.215 2,316,401 2313 186 2 316401 At 1st January 2019 Transfer to Income and ExwKlkure At 31st December 2019 1.731.425 3.215 1. 734,640 2 313 186 2316401 The general investment and (x￿tingenIXS reserve has arisen from the realised gains on inveslment disposals over a nlwnber of years. It is held to support the continuing opefdtions of th8 charity. The quinquennial supiey support fund has arisen from transfers made from the income and expenditure account. The funds are available to provide financial support to Churches requiring suThey of their premises. 11 RECONCILIATION OF MOVEMENT IN SHAREHOLDER¥ FUNDS 2019 At 1st January Net income before investment gar Gains on investments At 31st December 3,585,550 1,641 3.515.799 (2.430) 3 689 424 Page 18 THE LONDON BAPTIST PROPERTh BOARD LIMITED NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31" DECEMBER 2020 (continued) 12 COMMrrMENTS 2020 2019 Thè company has the foknvirKJ ¢omrr#lments at 31st De¢enknr 760 398 675 398 13 ANALYSIS OF NET ASSEfs BEfwEEN FUNDS 2020 Net current Total assets Unrestricted and deslgnated funds Income and expenditure Revaluation reserve General investment arKI contxyncEs reserve Quinquennial survey Supp(￿ 81.847 81,847 1.279,536 2.313,186 1.279,536 1.583,351 729.835 2 862 887 814 897 3 677 784 Share capltal 2 862 887 826 537 3 689 424 2019 Net cunpnt assets Total assets assets Unrnstt7Ct￿ and designated funds Income and expendfture Revaluatrn resetve General investment and contiwencies reswve Quinquènnial survey support lund 80.206 80,206 1, 177,303 2.313, 186 1.177,303 710.061 1.603.125 1686 546 3 573 910 Sharv ¢apitai 1887 364 1698 186 3 585 550 Page 19 THE LONDON BAPTIST PROPERfi BOARD LIMITED NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31°, DECEMBER 2020 (continued) 14 RELATED PARTIES The key management personnel of the charity are considered to be related parties and the total employee benefts a￿ set out in mte 3 above. The directors receive no remuneration in respect of their servioes as dlrectors. No expenses were paid to any directots {2019- Nil) for expenses incurred in carrying out their duties. As disclosed on page 5, the Directors are variously Officers andlor members of churches which are affiliated to the London Baptist Association. and those churches may place deposits from time to lime with the LBPB. The rates payable on such deposits are identical to those offered to all churches. The "A. shares are wholly owned by the London Baptist Association {LBA> (registered charlty number 1091160, company number 04325272). The object of the LBA is the a￿ancement of Christianity in and through its member churthes individually and acting together. in accordarte with the principles of the Baptist denomination. The LBA is affiliated to the Baptist Union of Great Britain. The LBA seeks to fvlfil tts purpose through resourcing. supporting and encouraging Ihe life and mission of its member churches. The company's results have been included in the consolidated accounts Ylhich a￿ available from the registered office. At the year end. the L7)mpany h&Y the followirKJ loan and deposit balan￿ with th8 LBA: 2020 2019 Loans advanced Deposts hekt Interest is received on the loans and paid on the deposits at the standard rates. Page 20 THE LONDON BAPTIST PROPERTY BOARD LIMITED CHURCHES AND ASSOCIATIONS FOR WHICH THE COMPANY WAS ACTING AS CUSTODIAN TRUSTEE at 31st DECEMBER 2020 (A) CHURCHES IN MEMBERSHIP YiifH THE LONDON BAPTIST ASSOCIATK)N Abbey Road Baptist thurch Central Baptist Church, Strarford Frampton Park Baptist Church Arton Baptist Church Chadwell Heath Baptist thurth Fulham Baptist Church Albany Park Baptist Church Chalk Farm Baptist Church Goodma￿$ Baptist Church Aldersbrook Bapt15t Churth Charis Baptist Church Graree Park Baptist Church All mat1￿5 Baptist Church {a3￿3M Park Chatsworth Baptist Church Green Street Green Baptist Church All Nations Church, Manor Park Chelsea Crynmunity Church Greenford Baptist Church Alperton Baptist (hurch Christ Church, New S¢xrthgate G￿enleaf Road Baptist Church Amott Road Baptist Church ty on the Flill Romanian Baptist thurch Haddon Hall Baptist Church Ashford Baptist Church aapham Baptist Church Hainault Baptist Church Ashford Common Baptist Church . Oaremont Free Church Harn Christian Centre Ashurst Drive Baptist Church Ilford aayhall Baptist Cthurch Hèmpstead Garden Suburb Free Avenue Baptist Church Coldharbour Lane Baptist 0￿[ch Hampton Mission Partnership Baldwyns Park Baptist Church Coney Hill Baptist Church Hampton Wick Baptist Church Balham Baptist Church Cranbrook Baptist Church Harlington Baptist Church Baptist chm Tamil Congregation cra￿￿1 Baptist Church Harrin8ay United Church-Baptist Barking Baptist Church CrTcklewttd Baptist Church Harrow Baptist Church 8arnes Baptist Churth Crofton Park 8apti5t Church Hatch End Free Church Battersea Chapel Educational Fo￿datIon Croham Road Baptist Chwch Ha￿n Green Baptist Church Beckenham Baptist Church Cross Street Baptist Church Heaih Street BaptlSt Church Bedford Hill 8aptist Church Crossway R￿1val Baptist Churth Herthn Baptist Church Belvedere 8aptist Church Crown Road Baptist Church Herne Hill Baptist Church Bethel Baptist Church Custom Hwse Baptist Chwth Hersham Baptist Church 8latkheath and Charlton Baptist Church Deep Water 8aptist Church Ffighams Park Baptist Church Blackthorse Road Baptist thurch Denmark Place Baptist Church righfield Road Baptist Church Bloomsbury Central Baptist Church Disciples Baptist Church Hillin8don Park Baptist Church Bonny Downs Baptist Church INewhaml El Community church Hither Green Baptist thurth Boston Road 8aptisi Church Earlsfield Baptist Church kjnor Oak Baptist Church Bow Baptist Church East Barnet Baptist Church Fknmsey Rise Baptist thurch Braemar Avenue Baptist Owjrch East Ham Baptist Church IHOPE Brandon Baptist Church East Hill Baptist Churth Ilford High Road Baptist Church Brentford F￿e thurch East Plumstead Baptist Ctrwrth J￿1 Christian Centre Intemational Brighton Road Baptist Church East SPeen Baptist Church Kensal Rise Baptist Tabemacle Brixton Baptist Church Eastern Avenue Baptist Church Kenton Baptist Church Broadmead Baptist Church Edmonton 8aptist Church ngsbury Baptlst Church Bromley Baptist Church El(%)n Road Baptist Cl￿rch fingswood Community Church Bromley Common Baptist ChLYth Eltham Park Baptisi Church Le￿onStOne United Free Church Brondesbury Christian Church Emmanuel Baptist Church. F&iun51tr•1 Likewise Christian Ministries Brownhill Road Baptist Church Emmanuel Church (Thamesmeadl Lindsay Park Baptist Church Buckhurst Hill Baptist Chwch Enfield Baptist Churth little Ilford Baptist Church Camden Road Baptist Church Epsom Baptist ChLtrch Centre LIVI￿ Flames Baptist Church, New Cross Campsbourne Baptist Church E￿r￿aY Church ￿￿$tOn Living Waters Baptist Church Camrose Baptist (hurch ENtryday Church Southfields Lond¢)n Arabic Evangelical Church Cann Hall & Harrow Green 8aptlst Church Faith Baptist Church (L(Thlonl London Network Church Carshèlton-Ba'ptist-thurch inchley Baptist.thurc ndon-Spanish-Speakin8-Baptist-C-hurch carshaltC￿ Beeches Baptist Free Churth F(￿ts Cray Baptist Church lO￿heath Baptist Church Page 21 THE LONDON BAPTIST PROPERTY BOARD LIMITED CHURCHES ANO ASSOCIATIONS FOR WHICH THE COMPANY WAS ACTING AS CUSTODIAN TRUSTEE at 3151 DECEMBER 2020 Lordship Lane Baptist thurch Queen Street Baptist Church Major Road Baptlst Church Raven5COUrt Baptist Church Manor Park Christian Centre RayneTS Lane Baptist thurth Marks Gate Baptist Church ftoding Lar* Free Church Memorial Community Church Romfurd Baptist Church Mert¢)n Park Baptist Church R¢ryal t*xks Cornrnunity Clxrch Mill Hill East Church Ruislip Baptist Church Mitcham Baptist Church Lane Baptist Chapel Morden Baptist Church Salem Baptist Church Morden Park 8apti5t Church Selsdon 8aptist Church Mu5well Plill Baptist Church Shoreditth Tabernacle Baptist thurth Myanmar Christian Fellowship Shrublands Christian Fell￿#S￿￿p New Addington BaptlSt Church Sidcup Baptist Church New Life Church Slade Green thristlan FelIty￿hIp New River Baptist Church SoLrth Harmiell Baptist Churth Norbury 8apti51 Church South Harrow Baptist Church North Cheam Baptist Churth SoLrth LorKk)n Tabemacle North Hanwell Baptist Church South Norw￿￿ Baptist Church North Peckham Baptist Church sO￿h Street Baptist Church Northcote Road Baptist Church Southall BaptlSt Churth Northolt Grange Baptist Clwrth South&Yo￿h Lane Baptist Church Northolt Park Baptist Churth Sprir￿f1eId Baptist thurch Northumberland Heath 8aptist Church Spruce Hill Baptist Church Oakwood Baptist Church St An¢kew's Churth, Walthamstow Oasis (haritable Trust Stanmore Baptist Church Oasis church Colliers Wood Stoke Newington Baptist Churth Old Lodge Lane Baptist Church Stone Baptist Church Oldfield Free Church18aptistl St￿leIgh Baptist Church Open D￿r5 Baptist Church St￿atharn Baptist Church Pawsons Road Baptist Church Streatham Vale Baptist Church Peckham Park Road 8aptist Church Stroud Green Baptist Church Peckham Rye Tabemacle Baptist Church sudt￿ry Baptist (Jmrth Pen8e Baptist Church Suffolks Baptist Church Pentecost Baptist Church Surtmton New Life Baptist thurch Perry Rise Baptist thurch Sutton Baptist Church Pinner Baptist thurch Tasso 8aptist Church Pollards Hill Baptist Church Temple Hill Baptist Church Purley 8aptist Church The King's Cross 8aptist thurch Quaystone Christian Church The Well Community Church Ttyxing Junction Baptist Church Tottenham Baptist Church Totteridge Road Baptist Church Trinity Baptist Church, Woolwich Trinity BaptlSt Church {West Norwood} Trinity Baptist Church BexIe￿eath True Life Baptist thurch Twickenham G￿en Baptist ￿r¢h Underhill Baptist Church Union Church and Community Centre UpFer Holloway Baptist thurch Victoria Park Baptist Church Victory Baptist Church. Tooti Victory Llfe 8apti5t Church Wallingtth) Baptist Church Waltham Abbey Baptist Church Walton Baptist Church Wanstead Baptist Church Wealdstone 8aptiSt Church Welling Baptist Church West Croydon Baptist Church West Dra￿on Baptist Church West Green Baptist Church West Hend¢m Baptist Church West Wickham & Shirley Baptist Church Westbury Avenue Baptist Church Whitton Baptist Church Willesden Green Baptlst Church Wimbledon & District Korean. Baptlst Chui WinchmO￿ Hill Baptist Church Woodlord Baptist Church Woodgrange Baptist Church Woodmansterne Baptist Church Woodside Baptist Church Woolwich Central Baptist Church Worcester Park Baptist Church Yiewsley Baptist Church Page 22 THE LONDON BAPTIST PROPERry BOARD LIMITED CHURCHES AND ASSOCIATIONS FOR WHICH THE COMPANY WAS ACTING AS CUSTODIAN TRUSTEE at 31" DECEMBER 2020 (continued) (B) CHURCHES IN MEMBERSHIP THE EASTERN BAPTIST ASSOCIATION Be¢ont￿e Avenue Baptist Church Benfleet Baptist Churth Brentwood BaptlSt Church Chase Cross Baptist Church Cranham Baptist Church Dagenham Baptist Church Earls Hall Baptist a)urch. Westdiff Elm PaTk Baptist Churth Friars Baptist Church Hadleigh 8aptiSt Church Hawkwell Baptist (￿rth Leigh Beck Baptist Church Oxlow Lart Baptist thurch Pilgrims Hatch Baptist Churth Ramsden Bellhouse 8aptist Church Shoeburyness and Thorpe Bay Baptist SI￿ate 8aptist Church Uwninister Baptist thurth Winter Gardens Baptist thurch Wood Lane Baptist a)urch (C) CHURCHES IN MEMBERSHIP MTH OTHER ASSOCIATIONS Cippenham Baptist Church Domansland Baptist Church Godstone Baptist thurch Life chur￿ Cuffley Potters Bar Baptist Church (D) CHURCHES NOT IN MEMBERSHIP INrrH AN ASSOCIATION Beulah Church Blggin Hill Christian Fellowship Trust Central Baptist Church. Walthamstow Cheam Baptist Church Childs Hill Baptist thurch Chiswi¢k Baptist thurch Oty Hope Church London Clementswood Baptist Chwch Community Church. Putney Cranford Baptist Church Days Lone Baptist Chwth Ealing Road Baptist Churth East DulwithTabemade East FI￿hleY Baptist Clmxch East London T0￿MatIe Baoist East Street Baptist Church Elmstead Baptist Church Everbylay Church Wimbledon Gresham Baoist thurch Gunnersbury Baptist Church Harnion¢tsworth Baptist Church Hatton Road Baptist Churth High Bamet Baptist Church Hltherfield Road Baptist thurch kthus New ￿fe Centre. G￿eTh￿1th Kl￿'S Church l¥er Ing's Churth London Leghorn Road Baptist Church Leyton Baptist Church ghthouse Bapt15t Church Metropolitan Tabernacle Oliwet Baptist Church Twwtholm Baptist Church Upney 8aptist Church West ￿lburn Baptist Church Westb)uff* Grove Church Westminster Baptist Church (E) OTHER ORGANISATIONS Baptist Building Fund Particular Baptist Fund Regentrs Park College Spurgeon'5 College The Loth 8apt15t Association Page 23