L3 London Baptist Property Board REPORT OF THE DIRECTORS and FINANCIAL STATEMENTS for the year ended 31st December 2023 Company No. 88218 registered in England Regislered Office and Principal Office UNIT C2, 15 DOCK STREET LONDON E18JN
THE LONDON BAPTIST PROPERTY BOARD LIMITED REPORT OF THE DIRECTORS and FINANCIAL STATEMENTS $1 for the year ended 31 DECEMBER 2023 Offlc•rs and Key M•nagom•nt P?rnonn•l: ChaAm?an.' Revd PAUL A WINCHESTER, ACIB MCT (until 31 December 20231 Mr OAVIO K READER BA PGCE ACIB CITA IMIEXI Ifrom 31 D*Mb0[ 2023) rre8surer.' Mr ANTHONY J A PIKE, MA FIA FCSI Twst Officer Mr J MARTIN SHAW. JP Dip LS Cert BFM so110r$." C8rter Lemon Camerons LLP. 3" Floor, 20 King Street. London. EC2V 8EG SuTreyors,' R8pl•ys LLP. 66 Sl James's Street, Sl Jamos's. London, SW1A 1 NE Bankers." Barclays Bank pl¢, 88rcl•ys Comm¥rcial Bank, 1 Churchlll Place, London, E14 SHP Audilor.- Jacob Cavenagh & Skeel. Chartered Accountsnt$ 5 Robin Hood Lane, Sutton. SM1 2SW Contenls Page Report of the Dir¢¢lors Directors at 31$1 December 2023 Report of the Auditor Stalernenl ol Financial Activitses {induding Income and Expenditure Account) Balance Sheet Statement of Cash Flows Notes lo the Financial Slalements Churches and Associabons for which the Company ads as Custodian Trustee 10 11 12 13-20 21-23
THE LONDON BAPTIST PROPERTY BOARD LIMITED REPORT OF THE DIRECTORS The direetors present their annual r8POrt and the audited financial slatements for the year ended 3161 December 2023, which have been prepared in accordance with the Companies Act 2006 and in accordance with the Charities Statement of Recommended Practice {Charities SORP IFRS 1021) and Financial Reporting Standard 102 (FRS 102}. AIMS and OBJECTIVES The prin¢ipal object for which the company was fomied in 1906 is sel out in the company's Memorandum and Articles of Association: The advancement of the Christian religion in particular by the means and in accordance with the principles of the Bapli$l denomination. In furthering this alm. Ihe company seTV8S the work of the Baptisl denorninalion by (al acting as custodian or holding trustee for churches and other organisations associated with the Baplisl denomination". and (b} operating a deposit and loan fund in order lo make loans available to churches in membership with the London Baptist Association and churches and organi5ations in trust with the company for the purpose of the purchase. repair or improvements of church propety. The company operates principally, but not ex¢lu$ively. in London. The company has continued lo focus on its core tasks Ihroughout the year, including offering support lo churches with an annual income of over £100.000 as they have registered with the Charity Commission. HOW THE COMPANY'S ACTIVITIES DELIVER PUBLIC BENEFIT The directors are aware ol and have regard lo the Charity Commission's published guidance on public benefit. The company delivers a public benefit by offering services lo lo¢al Baptist chuTches Ihat lacilitate the provision ol places for public worship and premises from which local churches are able lo serve the needs of the community in Christian outreach. The company also offers support and guidance lo the trustees of local Baptist churches lo help them lo comply with the requirements of charity law and to follow best practice in their responsibililies as charity Iruslees. In addition lo this any Surplus that does not need to be retained by Ihe company for its continuing work is given by way of grant lo the London Baptist Associalion ('L8A'I, wilh a recommendalion lo designate a proportion lo the Baptist Union Home Mission appeal. Both the LBA and Baptist Union are registered charities and serve the public benefit by the promotion of the Chfistian faith. The company as holdlng trustee The company acts as custodian Injslee for 311 churches and certain other organisations as listed at the back of this document. A reeord of the deeds is maintained to ensure that Ihese assets are segregated from the company's own assets. In most instances. a trust deed will eslablish the role of the company as the custodian or holding Iruslee. Churches began lo resume more nomal levels of operations following the disruption caused by the COVID 19 pandemic. However, th& cost.of-living crisis and in particulaT energy price inflation has affected all churches lo a greater or lesser extenl. During the year under review, one church closed as a result of dwindling numbers. four properties were sold, four properties were purchased and taken into Trust. A further nine Leases were sealed in relation to properties held in Trust. In addition lo this Ihe company continues to give approval for alleralions to church premises and ils staff offer support lo churches on an increasingly wide range of mallers as the regulatory environment around property ownership and charity management continues lo evolve. 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 benefit by &nabling churches lo have access to loan funding in order lo purchase. repair Of improve premises that are used for public worship or that further the charitable objects of the churches. Three new loans were agreed by the directors during the year. enabling chuTches to refurbish and PUTchase manses and develop church buildings. Following the recovery in 2022 from the impacl of the COVID 19 pandemie, the global economy slowed last year and the UK economy only grew marginally. The ongoing conflicl in Ukraine and latterly the renewed conflict in the Middle East weighed on economic aclivity. However, inflationary Pfessures started lo ease and interest rates slabilised al more normal levels, after being exceptionally low by hislofical standards for several years. The coming year should see modest growih, with the possibility of interest rates falling towards the year end. The directors continue to monitor closely the company's investments. with a view lo maximising returns wilhoul undue risk. and seek lo sel appropriate and equitable rates of interest payable both lo depositors and by borrowers, laking into account the general interest rate environment and allemalive funding and invgslmanls available lo our Baptist chur¢h¢s in London. Ouring the year. the deposit fund increased by £1,946.964 10 £17.605,899 at 31 December 2023 The increase was in part attributable to a large deposit by the LBA following the sale of piopety of a closed church. The Board's deposit interest is proving attractive lo churches. which accounts for some of the influx. In addition, chur¢he$ which have sold properties are leaving the balances with the Property Board while alternative plans lor the funds are brought forward. In the same period. the loan fund reduced by £312.095 10 £2.745,955. The fall was in large part the result of repayment of a bridging loan, with only one new loan advanced. Churches conlinve to repay their loans on lime. and for the present there appears lo be little appetite lor debl given the irbcreased costs of finance and a degree of wanness around the overall economic environment. Future Plan$ The company intends lo ¢onlinue ils present activities as rt supports the work of Baptist churches In and around London and lo earry out its duties as holding trustee ol such churches. For some years. the LBPB Directors have worked on their strategic objectives. During 2023, the Board launched the new strategy and have sought to build awareness of the services provided lo churches in twsl. including the circulation of promotional films via improved LBA website. In 2024, we anticipale building on this impelus. Two other mernbers of Ihe LBA Regional Ministry Team have been appointed as LBPB Dire¢lors. which will help build capacity. The Board will also be promoting Ils work to the LBA District Ministers during the summer so they loo can know moTr of the servi¢•s available to their clusters of churches and ministers. FINANCIAL REVIEW The financial results of the rnpany for the year 2023 a Set oul in the accompanying financial statements. There was a small positive movemenl of funds in the year, after revaluation adjustments. of £1.800 (2022.. positive movement of £72, 695)- The directors resdved during the year lo make a n appropriation of £25.000 to the LBA (2022.. £55,1)OOJ. The direclors have also resolved lo make an appioprialion of £80.000 to the LBA in the year 2024. The company does not measure ils success in lems of its financial results but by the measure of how well il serves the needs of the churches held in Irusl. The financial objective of the company is primarily lo cover the costs of ils activities through the operalion of the deposit and loan funds. and out of any surplus lo make appropriations lo the LBA. This objective was met in Ihe year. Investment Policy and Flnanclal Controls The direetors maintain a cautious approach to investment. seeking both lo safeguard the ¢apilal held on behalf of churches and lo retain sufficient short lemi funds to meet Flotenlial demands by depositors or borrowers. Page 2
THE LONDON BAPTIST PROPERTY BOARD LIMITED REPORT OF THE DIRECTORS Icontinuedl With regard to longer lemi investmenls. the company holds Charifund income unit5 Wlth the intention of provi¢Ying both income and capital growih. Investments have also been made in propety with the dual aim of assisting the LBA or particular churches and bringing longer-lenn capital growth for the company. The short term deposits are currently spread across four financial institutions. wrth returns being kept under regular review. The concentration nsk is mitigated because deposits with tsvo of the institutions are in money market funds with substantial diversificats'on of credit risk. The directors receive monthly reports monitoring cash flow and key financial ratios as a control procedure. The directors last reviewed and amended their investment policy and financial Control procedures in 2022. Capital and Resetves As the principal financial activity of the Company is lo make loans available to churches and organisations {see "ObjeGts andActivities'8bovel and appropfialions are usuaty only made out of operating profits. the policy is lo accumulate surpluses realised from the disposal of langible assets and inveslmenls in the General Investment and Contingency Reserve. This reserve was £2.656.284 al the end of the year. The a¢¢umulaled reserve is used to support the expansion of the future lending business of Ihe Company and is considered adeqvate to support the ongoing activities of the company. Fundralslng pollcy The company asks all churthes that are involved in a propety transa¢lion to make a donation towards the expenses incurred by the company. The company also requests a small annual donation to cover ¢osts from churches for whom the company holds investments as nominee. Other Ihan this. tha company do•$ nol activ8ly seek third party donations. GOVERNANCE and MANAGEMENT Governlng document The company was created in 1906 by the Councll of the LBA. Tha company is incorporated under the Companies Acts (Registered No.. 88218), is a registered charity (Charity Registration No.. 2497681 and Is govemed by ils Momorandum and Articles of Association. The current Memorandum and Articles of Associalion were adopted by the company on 23 July 2002. Amendments lo the Articles of Association were adopted on 25 Novernber 2003 and on 24 January 2006. Further amendments were adopted in 2009 to make provision relating lo directors. conflicts of interest. Its registered office is Unit C2. 15 Dock Street. London, E1 8JN. With effèct from 1 January 2002, all the "A" shares in The London Bapttst Property Board Limited we Ir8nsferred lo the ownership of the LBA, so that the company is a wholly-owned subsidiary of the LBA. The Board of Dlrectors The directors of the company are appoinled by the LBA. The dirgctors who have served during the year and lo the dale of this report are listed on page 6. In Ihe year 2023. the directors mel on nine occasions. The directors ontinue to be grateful for the attendance and assistance of representatives of Carter Lemon Camerons (solicitors} and Rapleys Isurveyorsl. The directors have received formal training on their legal responsibilities as directors of a charitable company. In addition, the presence of professional advisers at all meetings continues to ensur8 thal the directors have access lo help and guidance where necessary in the exercise of their responsibilities. In dealing with loan applications, the directors are indebled to two honorary Loans Officers.. Mr David Golder and Mr Paul Scott-Evans. No director of the company received remuneration of any kind by virtue of holding that office. Page 3
THE LONDON BAPTIST PROPERTY BOARD LIMITED REPORT OF THE DIRECTORS (continued) Rlsk Management The company has conducted an assessment of Ihe major risks to which it is exposed and has reviewed these risks during the course of the year. The main risks identified and managed are- Inability lo recruit and maintain Directors and siaff wilh appropriate skills lo manage the company effectively. Providing incorrect or inadequale advice lo churches in trust with the Board. Loss of trust or reputation as a result of actions taken by the Oireclors, staff or the wider Baptist family, leading lo a significant and rapid loss of deposits. Loss of data through failure of IT systems or financial loss as result of IT system errors. Loss of competitiveness in deposit rates leading lo a significant and rapid loss of deposits. Failure lo anlicipale or identify a delerioralion in financial perfomiance. Churches operating outside the le$ ol theif trust deeds, leading lo excessive time and cost implications for the Board. The Directors have assessed thes& risks and. where possible, taken measures have been laken lo miligale risks. including taking of financial appropriate professional advice, through insurance cover and through regular moniloring and reporling performance. The Directors recognise that some risks identified are outside their direct control. Stafflng The key managemenl personnel of th• company as listed at the front of the report are in charge of directing, controlling. running and operaling the charity on a day lo day basis. Remuneration ol key management personnel 1$ set with reference to available market information for similar roles. including within the Bapllsl denomination. The LBA Directors have fomial responsibility lo agree senior management salaries. The day lo day work of the company is conducted by ils slaff. who have continued lo serve the company effectively and efficiently through the ¢ourse of the year.. Mr Martin Shaw (Trust Officer). and Ms Deborah Scoll (Finance Officer). The company also benefited from the work of the LBA Administrator. Mr Norrnan Kincaid until his retirement in July last year. and his successor. Ms Laura Tomlinson, and the L8A Regional Ministry team. Related partlos The company is a wholly-owned subsidiary ol Ihe LBA. The staff working for Ihe Company are employed by the LBA but undertake duties by agreemenl lor the company. All their ¢o$ls for work for the company are fully reimbursed lo the LBA. The company provides financial support lo the LBA through an annual appropriation from available Sufpluses. The work of the company is viewed by the directors of the LBA as an integral part of the support and guidance Ihal the Association is able lo offer to 11$ member churches. Page 4
THE LONDON BAPTIST PROPERTY BOARD LIMITED REPORT OF THE DIRECTORS {conlinuedl DIRECTORS. RESPONSIBILITIES The director5 are responsible for preparing the annual report and the financial sl8temenls in accordance with applicable 18w and United Kingdom Ac¢ounting Slandards (Uniled Kingdom Generally Accepted Accounting Policies). Company law requires the directors lo prepare finan¢ial ststements for each financial year. Under that law the directors must not approve Ihe financial statements unless they are satisfied that they give 8 true and fair view of the slate of affairs of the charitable company and of incoming resources and application ol resources, including the income and expenditure of the charitsble company for that period. In preparing these financial statements the direelors are qUIred lo.. select suitable accounting policies and apply them nsistenI1y. observe the rnelhods and principles in the Charities SORP; make judgements and estimates that are reasonable and prudent., slate whelher applicable UK Accounling Standards have been followed. subject to any material departures disclosed and explained in the financial slalemenls: and prepare the financial slalemenls on the going concern basis unless il is inappropriate to presume that the company will ¢onlinue in ils operalions. The director5 are responsible for keeping proper accounting records which disclose with reasonable accuracy al any lime the financial position of the charitable company and enable them lo ensure that the financial ststements comply with charity law and the Companies A¢1 2006. They are also responsible for safeguarding the assets of the charitable ¢ompany and hence for laking reasonable sleps for the prevention of Iraud and other irregularities. The directors are responsible for the mainlenan¢e and integrity of the corporal& and financial information for the company included on the L8A website. DISCLOSURE OF INFORMATION TO THE AUDITORS In so far as the Directors are aware al the lime of approving our Directors, Annual Report.. There is no relevant information, being infomalion needed by the auditor in connection with preparing their report, of which the charity's auditor is unaware., and The Trustees, having made enquiries of fellow directors and the charity s auditor that they ought lo have individually taken, have each taken all sleps that helshe is obliged lo lake a$ a Director in order to make themselves aware of any relevant audit inlormalioD and lo establish that th8 auditor is awar8 of that information. AUDITORS The directors intend lo re-appoint Jacob Cavenagh & Skeet as auditors of the company for the ensuing year. SMALL COMPANY The above feport has been prepared in accordance with the Special provisions of Part 15 of th8 Companies Ael 2006 relating to small companies. Slgn on bèhalf of the Diractors Anthony J A Plke Director 30 April 2024 Page 5
THE LONDON BAPTIST PROPERTY BOARD LIMITED DIRECTORS DURING THE YEAR ENDED 3151 DECEMBER 2023 AND TO THE DATE OF THIS REPORT The following Direclors served throughout the year and to the date of this report. except as shown= Rev Paul A Wlnchestor BD ACIB FCT {Chaim)an until 31 December 20231 Former Regional Managing Director, UK and Europe, National We5tminsler Bank plc. Fornier Minister land Truste6} of Stone Baplist Church. Dartford. Member of Crayford Baptist Church. Mr David K Readèi BA PGCE ACIB CITA IMIEX) (Chairman from 31 December 20231 Formerty Regional Direelor, Transaction Services .' National Westminster Bank PLC. Managing Director DKR Trade Training & Support Limited. Member of Edmonton 8aplist Church Rev Phlllp E Bamard 8Th Regional Minister (Team Leader). London Baptist Asswatson. Member of 8aptists Together Core Leadership Team and Baptist Union Council. Member of Milcham Lane Baptist Church. Rev Joshua J Kan• BA MA (from 12 September 2023) Regional Minister. London Baptist Assoaalion. CtrPaslor Mill Hill Easl Church. Director of Dockyard Collective Rev Clalre Nlcholl¥ 8S¢ PGCE MA (from 12 September 2023) Regional Minislor, London Bapts'sl Assouation. Member of Joint Public Issues Team Strategy and Poli¢y Group188plisl Union. Melhodisl Church and URC). Member of Trinity Baptist Chur¢h. Bexleyheath. R•v Mlch••l B Mensah Msc ACCA (from 16 Marth 20241 Minister, Brockley Baptist Church Mr Olusègun O Obldlpe ACMA MBA Chartefed Management Accounlanl. Senior Partner of Graceolu & Co. Dire¢lor of Baptist Union Corporation Lld. Directorrrreosurer of Conning Hall Trust. Member of Harringay United Church-Baptist Mr Anthony J A Plko MA FIA FCSI (Treasurer) Fellow of the Institute of Actuaries. Chartered FCSI. Foryner Head of Investments. BP Investment Management Limiled. Direclor of 8aplist Pension Trust Ltd and Moderator of the Investment Committee. Trustee of Scripture Gift Mission Pension Fund. Fomier Treasurer land Trusleel of Croham Road 8aplisl Church. South Croydon. Treasurer land Trustee) of Ihe Parochial Church Council of All Saints. Otley Mrs Sylvla C salamanca$P5n Bsc MNAEA Acquisitions & Disposal Manager, London Cily Mission. Formerly Business Manager, Vanet Property Asset Management Ltd. Secretary (and Trusleel of the London Spanish-speaking Charismatic Baptist Church. Mrs Monica Sisimayi (nee Muchenal BA, FCCA Accountant. Treasurer land Trustee) of Sioke Newington Baptist Church. Page 6
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THE LONDON BAPTIST PROPERTY BOARD LIMITED Oplnlon We have audited the financial ststernenls of The London Baptist Propety Board Limrted (the 'charity'l for the year ended 31 December 2023 which comprise the Stslemenl of Financial Acltvities, Ihe Balance Sheet, the Statement of Cash Flows and the notes to the financial slatements, induding a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accountsng Standards, including Financial Reporting Standard 102 The Financial Reporting St8nd8rd 8ppIic8ble in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). In our opinion the financial slalements.. give a true and fair view of the stsle of the charitsble company's affairs as at 31 December 2023 and of ils incorning resources and application of resources for the year Ihen onded.. have been propedy prepared in accordance with United Kingdom Generally Accept8d A¢¢ounting Praclice.. and have been prepared in accordance with the requirements of the Companies Act 2006. Basls for oplnlon We conducted our audit in accordance with Intemabonal Slandaids on Auditing {UK) {ISAs IUK}) and applicable law. Ouf responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independenl of the charilable company in accordance with the ethical requirements that are relevant lo our audit of the financial statements in the UK. including the FRC'S Ethical Standord, and we have fulfilled our other ethical responsibilities in accordanc8 with these fequiremenls. We believe that Ihe audit evidence we have obtained is sufficienl and appropriate lo provide a basis lor our opinion. Con¢luslons rfjlatlng to golng concern In auditing the financial slalemenls, we have concluded that the directors, use of the golng concern basis of accounting in the preparation ol the financial ststements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relatlng to events or conditions that. individually or collectively, may cast significant doubt on the Charity's ability to continue as a going concern for a period of at least 12 months from Wh the financial statements are authorised for issue. Our responsibilities and the responsibilities of the directors wrth respect to going concem are described in the relevant sections of this report. Other Infomiation The other information comprises the infomiation included in the annual report, including the directors, report, olher than the financial statements and our auditor's report thereon. The directors are responsible for the other information contained within the annual report. Our opinion on the financial slalements does not cover the other information and, except lo the extenl otherwise explicitly slated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the olher information and, in doing so. ¢onsider whelhef the other information is materi811y inconsistent with the financial statements or our knowledge obtained in Ihe course of the audit, or otherwise appears to be materially misstated. If we idenlty such material inconsistencies or apparent material misslalemenls, we are required to delemiine whether this gives rise to a material misstaternent in the financial statements themselves. If. based on the work we have perfomied. we condude that Ihare is a maleiial misstatement of this other iriformalion, we are required lo report Ihat fact. We have nothing to report in this regard. Page 7
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THE LONDON BAPTIST PROPERTY BOARD LIMITED (continued) Opinions on other matters prescribed by the Companles Act 2006 In our opinion, based on the work undertaken in the course of our audit. the infomation given in the trustees. report. which indudes the directors. report prepared for the purposes of company law, for the financial year for which the financial slalements are prepared is consistent with the rinan¢ial statements.. and the directors. report induded within the trustees. report has been prepared in accordance with applicable legal requirements. Mattors on whlch wo ar• raqulred to r•port by •x¢•ptlon In the light ol the knowledge and understsnding of Ihe charity ar its environment obtained in the course of the audit, we have nol identified material misslatemenls in the directors. POrt in¢luded with th& directors, report. We have nothing to report in re$pe¢t of the followng matters in relatlOD to vthich the Companies Act 2006 requires us to report to you if. in OUT opinion.. adequate and proper accounting rectyds have not been kept, or retums adequate for our audit have not been received from branches r1 visited by us.. or Ihe financial slalemenls are not in agrèement wtlh the accounting records and retums-, or certain disclosures of dire¢lors' remuneration specified by law are not made., or we have not received all the infom)alion and explanations we require for our audit.. or the difeclors were not entitled lo prepare the financial stalem8nls in accordance with the Small companies regime and lake advantage ol the small companies exemptions in Preparing the directors, report and from the requirement to prepare a stral¢gic roporL R•sponslbllltSes of directors As explained More fully in the directors, responsibilities statement. the tnJslees' (who are also the d1CtorS of the charitable company for the purposes of company lawl are responsible for the preparation ol the financial statements and lor being satisfied that they give a true and fair view, and for such inlemal control a$ Ihe Iruslees determine is necessary lo enable the preparation of finanaal statemenls that are free from material misslalemenl. whether due lo fraud or error. In preparing the financial slatemenls, the directors are responsible for assessing the company's ability lo contsnue as a going ¢oncern, disclosing, as applicable. matters related lo going con¢em and using the going concern basis of accounting unless the directors either intend to liquidate the wmpany or to c£ase operations, or have no roalislic allemalive bul lo do so. Audltorf$ rè•ponslbllltles for the audlt of th• financlal stst8mènts Our objectivès are to obtain reasonable assurance aboul whether the financial statements as a whole are free from material mi5slatemenl. whether due to fraud or emr. and to issue an audilorfs report that includes our opinion. Reasonable assurance is a high level of assurance, bul is not a guarantee that an audit conducted in accordance with ISAS IUKI will always detect a material misstalemenl when il exists. Misslalemenls can arise from fraud or error and are considered material if. individually or in the aggregate. they could reasonably be expected to influen¢e the economic decisions of users taken on the basis of these financial statements. The extent lo vthich our procedures are capable of detectiThJ irregularities. induding fraud is detailed bolow.. Based on our understsnding of the charity, we idenlified that the principal risks of non-compliance with laws and regulations related to financial reports'ng legislation and we consKlered the exlenl to which non-compliance might have a material effect on the ffinancial slalements. We also considered those laws and regulations that have a direct impact on the preparation of the financial slalemenls such as the Companies Act 2006 and the Charilbes Act 2011. Page 8
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THE LONDON BAPTIST PROPERTY BOARD LIMITED (continued) We assessed the susceptibilily of the charitys financial 5talemenls lo material misstatement, including obtaining an understanding ol how fraud might occur. by making enquiries of management. considering the inlernal controls In place and discussion amongst the 8ngagemenl team. We determined that the principal risks were related to making inaccurate electronic banking payments, the valuation of freehold Property. presentation of separdtely disclosed items aThJ management override of ¢ontrols. In response to the risks Klenlified we design8d procedu$ which included. but were not limited lo reviewing the controls over electronic banking, Challenging property valuations, agreeing financial statement disclosures lo underlying supporting documentation. reviewing trustees minutes. evaluating the inlemal controls, and lesling joumal entries. There are inherent limitations in the audit procedures described above. The more removed that laws and regulations are from financial transactions. the less likely il is that we would become aware of non-compliance. Malerial misstatements thal arise due to Iraud can be harder lo delect Ihan those that arise from effor as they may involve deliberate concealment or collusion. A lurther description of our responsibilities for the audit of the financial slalements is located on Ihe Financial Reporting Council's website al.. htip.'IlvA•M.frc.org.ukJaudrtorsresponsibilitie$. Thi$ description fom$ part of our auditor's report. Use of our rèport This report is made solely lo the ¢haritable compan$ members, as a body. in a¢¢oTdance with Chapter 3 of Part 16 of the Companies Act 2006 and regulations made under that Act. Our audit work has been undertaken so that we might slate to the Charitable companls members Ihose matters we afe required lo slate lo them in an auditors, report and for no other purpose. To Ihè fullest exlenl permitted by law, we do not accept or assume responsibility lo anyone other than the charilable company and its mgmb8rs as a body. for OUT audil work, for this report. or for the opinions we have fomied. Mlriam Hlckson FCA (Senlor Statutory Audltorl for and on behalf of Jacob Cavenagh & Ske•t Statutory Audltor Chartered Accountants 5 Robin Hood Lane Sutton Surr8y SM1 2SW Oated: 7o.....m.4..l¢•zII Page 9
THE LONDON BAPTIST PROPERTY BOARD LIMITED Registed Charily No.. 249768 Company No.. 88218 STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31st DECEMBER 2023 lincorporaling the Income and Expendilure Account) 2023 2022 General Funds Deslgnated Funds 2023 Total 2022 Total Nolo Income from: charitab aclNitiès - Loan interesl Investments DonalK)ns and begaci8S Total Incorne 148.311 707.681 18.370 874 362 148.311 707,681 139,836 208,207 874 362 Expendlture on: Raising funds Investment property management costs 10,537 10.537 11,637 Charit8bb 8clwities Approprotn to Lormlon Baptist Association Inleresl payabte on deposiis Support and governance costs 25,C 631,239 25.000 631,239 55.000 184,853 137 746 377 $99 Total expendStur• 815 230 Net {k)sses}Igains on investments {57,3321 (57,3321 43.082 Not Incom•ll•xp•ndllurel 1,800 12,695 Transfers beeen funds Not movement In funds (341.298) 343.098 1,800 12.695 Reconcillatlon of funds Fund balances brought forward 9,10 1519 714 2 316 401 3,836 115 3 823 420 Fund balances carried forward 1 178416 2.659,499 3837915 3836115 All of these results relate to continuing activities. Page 10
THE LONDON BAPTIST PROPERTY BOARD LIMITED Registered Charity No. 249768 Company No.. 88218 BALANCE SHEET AS AT 31$I DECEMBER 2023 2023 2022 Note Fixed assots TangibK8 assets Inveslmenls 2.361810 2,361.810 3.064.059 Current assots Debtors (including £1,856,465 (2022.. £2.236,907) recoverable after more than one yearl Short term deposits - bank Cash al bank 2,854,670 3,065.461 11.235.834 5011396 19.101,900 6,955,980 6 430 855 16.452.296 Credltors: Amounts falling due within one year Net current assets 17614 155 15 668,600 1487 745 783 696 Net assots 13 3 849 SS5 3 847 755 Capltal and re8•Nos Called up share capital General Funds.. Income and expendrture account RevalualK)n reserve 11,640 11,640 95,145 1083 271 36,097 1483 617 1.178,416 1,519,714 DesKJnated Funds.. General investment and contingencies reserve Quinquennial survey support fund 10 2.656.284 2,313,186 2 659 499 2 316 401 Tolal sharnholdors. funds 11 3 849 555 3 847 755 The financial slatemenls have been prepafed in accordance with the special provisions relating 10 Small companies wilhin Part 15 of the Companies Act 2006. The financial statements were approved by the Directors on 30 April 2024 and signed on their behalf by Anthony J A Pike Director Page11
THE LONDON BAPTIST PROPERTY BOARD LIMITED Registered Charity No.. 249768 Company No.. 88218 STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31°, DECEMBER 2023 2023 2022 Noto Cash provided by operatlng acllvltlos 1.507,797 3,416,695 Cash flows from Investing adlvltles Interest receNed Rental income from inveslment propert*s Proceeds on disposal of veStMents 638.282 69.399 137.595 70.612 Cash provlded by Inv•stlng actlvltlos 1352 597 208 207 Net cash Inflowl{outflow} 2.860.394 3.624.902 Cash and cash equNal8nts al 1st January 13 386 835 9 761 933 Cash and cash equlvalents at 31st December 16 247 229 13 386835 l} Cash flows Irom operatlng actlvftles Net Income 1.800 12,695 Adjustments for.. Interest receNed shown n investing acttr4itS Rental income receNed shown in nveslng aclNI Deprecralion {Gainslllosses on VeStMents Change in provBions Decrease in debtors Increase creditors (638.2821 1137,5951 169,399) (70.6121 1,391 (43,082} 57.332 210,791 1,945.555 745.933 2,907,965 Ca8h provlded byllused in) op•ratlng a¢tlvltles 1507 797 3 416 695 Page 12
THE LONDON BAPTIST PROPERTY BOARD LIMITED NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 3151 DECEMBER 2023 ACCOUNTING POLICIES The principal aeeounting policies adopted, judgements and key sources of estimation uncertainly in the preparation of the financial statements are as follows.. 1.1 Accountlng conv•ntlon The financial slalements have been prepared under the Companies A¢1 2006 and in accordance with the Charities Statement of Recommended Praeliee Icharities SORP IFRS 10211 and Financial Reporting Standard 102 IFRS 1021. The financial slalements are drawn up on the historical cost basis ol accounling. as modified by the revaluation of investment properties and other investments. The financial statements are prepared in sterling rounded to the nearest pound. There are no malerial uncertainlies about the charity s ability lo conlinue in operation. The London Baptist Property Board meets the definition of a public benefit enlily under FRS 102. 11 is an incorporated company with share capital. registered in England with registered office al Unit C2, 15 Dock Street London. E1 8JN. 1.2 Invostmonts Investm8nl properties Investmenl properties are shown al fair value at the balance sheet date and surpluseslldeficiencies} arising on Ihe revaluation are treated as unrealised surplusesl(lossesl which are crediledlldebited) directly to the revalualion reserve. Other inveslrnenls Other investments are stated at ma•t value. 1.3 Flxed assets Tangible fixed assets are included al $1 less depreciation. The useful life of Ihe office equipment is eslimaled lo be 4 years and of compuler equipment is eslimaled lo be 3 years. Depreciation is provided al rales calculated to wrile off the cost, less eslimaled residual value, of each asset over ils useful life. Computer and office 8quipmenl wilh a cost of over £500 is capilalised. 1.4 Dlvldend¥ and Interest recelvablfj Dividends and inleresl re¢eivable on government and commercial se¢urits'e$ are recognised on an accfuals basis. 1.5 Grants and approprlatlons payabl• Grants and appropriations payable are recognised once payment has been made. 1.6 Expense allocation The company carries out no separate fundraising acb"vities. In view of the company's principal activities, all administrative support costs and governance costs are regarded as charitable expenditure. (Note continued on next pagel Page 13
THE LONDON BAPTIST PROPERTY BOARD LIMITED NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31$1 DECEMBER 2023 (continued) ACCOUNTING POLICIES (continued) 1.7 Incomg Voluntary income and donations (including legacies) are accounted for once the ¢h8rty has enlillemenl lo Ihe income. il is probable the income will be received and the amount of income receivable can be reliably measured. Loan interest receivable and interest payable on deposits is recognised on an a¢cruals basis. 1.8 Debtors Grants receivable and other debtors are included at the settlement amount due. Prepayments are valued at the amount prepaid. 1.9 Cash at bank Cash al bank includes cash and short term highly liquid investments with a $hort maturity of three months or less from the dale of opening of the deposit. 1.10 Creditors and provlsion$ Creditor$ and provisions are recognised where the charity has a present obligation arising from a past event that will probably result in the Iransfer of funds to a third party and the amount due to sellle the obligation can be measured or estimated reliably. CreditOTS and provisions are recognised al their settlement amount. 1.11 Flnan¢lal In$tntment* The charity only has financial assets and liabilities of a kind that qualify as basic financial instruments. Basic financial inslruments are initially recognized at Iransaelion value and subsequently measured using amortised cost on the effective inlerest rale method. 1.12 Fund accountlng Details of the nature and purpose of each fund is 9iv8n in Note 10. 1.13 P•nslons The charity conlribules lo the Baptist Pension Scheme. via the London Baptist Association, in respect of ils employees. This is a defined contribution scheme and contributions are ae¢ounled for as they fall due. 1.14 Crltlcal ac¢oyntlng t$tlmates and areas of ludgern•nt In preparing financial slalemenls il is necessary lo make certain judgements, estimates and assumptions that affect the amounts recognised in the financial statements. The following judgements and estimates are considered by the Trustees lo have most significant effect on amounts recognized in the financial statements.. 1. The judgement in the valualion of properties 2. The presumed economic lrfe of properties and the depreciation or lack thereof 1.15 Golng Concern The trustees have prepared detsiled 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 lo operate for the foreseeable future and thus the trustees onsider il appropriate to prepare the financial statements on 8 going concern basis. Page 14
THE LONDON BAPTIST PROPERTY BOARD LIMITED NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 3151 DECEMBER 2023 (continued) 2 INVESTMENT INCOME 2023 2022 Rental income from investment properties Dw¥Jends and interest recewed= Other investments Interest receNable: Short term depos6ts 69.399 70,612 11.756 11.413 626 526 126,182 208 207 3 SUPPORT AND GOVERNANCE COSTS 2023 2022 Employment costs Office rental and s8rvke charge PrOfeSsnal fees Other charg&s Loss on disposal of computer & office equyment Deprecialijn of computer and offe equipment (see note 4) Audi(or's remuneralDn Other governance costs 60.647 25.690 43,201 12.196 58.881 23,010 38,159 10,125 1,391 6.180 6,720 137746 Empbymenl cosls comprk8e'. Salaries National insurance Pension Contributn$ 50.544 5,094 49,082 5,121 There were tsvo employees {equivalenl lo tsvo full-lime employees) during the year. There were no employees who received employee benefits of more than £60,000. The key management personnel received employee benefits of £45.612 12022.. £44.111) during the yèar and were reimbursed travel expenses of £1.41212022: £393). Page 15
THE LONDON BAPTIST PROPERTY BOARD LIMITED NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31$1 DECEMBER 2023 (continued) 4 TANGIBLE FIXED ASSErs Computor and office equlpment Cost orvaluation Al 1 st January 2023 AdditKJns Disposals Al 31 st December 2023 10.525 Dopr•clatlon Al 1st January 2023 Charge for year ReaSed on d¢5posal Al 31st December 2023 10,525 10,525 Nèt book value At 31st December 2023 At 31st D8c8mb8r 2022 5 INVESTMENTS Othor Invèslmenl Frnehold Investment Total Valuatlon Al 1st January 2023 RevalualK)n deftrt Disposals At 31st December 2023 202.059 {4.749) 2.862.000 154,$001 3,064.059 159.2491 197310 2 164 500 2 361810 Hlstorlcal cost At 31st December 2023 At 31st December 2022 20.149 1258 389 10292 1278 538 1 580441 The freehold investmenl properties were professionally valued at 31 Dec8mber 2020 by independent valuers who held recognised and relevant professional qualificalions 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 al 31 December 2023 totalling £2.164.500 in these accounts. Page 16
THE LONDON BAPTIST PROPERTY BOARD LIMITED NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31$1 DECEMBER 2023 (continued) DEBTORS 2023 2022 Advances (financial assets measured at anKrftsed cost) Churches Manses DenomInatn81 Soc118$ 1,755,737 461.259 528,959 2,745,955 2.348.477 585,295 124 278 3.058.050 Prepayments Accrued wicome 2.928 105.787 2 854 670 5,140 3 065 461 7 CREDITORS: Amounts falling due within one year 2023 2022 7 day not8 deposts Churches DenoMinal)nal societss 14.848.794 2757 105 17,605,899 14.393,357 1 265 $78 15.658,935 Accruals 17 614,155 15 668 600 SHARE CAPITAL Authorlsod 2023 2022 No. Allott•d. Issued & fully pald 2023 2022 Ordinary shares of£10 each- A shares 8 shares 411 411 4,110 4,110 The A shares carry one vote per share. The B shar8s have no voting rights. Page 17
THE LONDON BAPTIST PROPERTY BOARD LIMITED NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31st DECEMBER 2023 (continued) 9 GENERAL FUNDS Incorne and Expenditure Revaluatlon Reserrfe Total fund$ At 1st January 2023 Nel income before inveslmenl gains Nel gains Ilossesl on investment5 Transfer lo General Investment Reserve At 31st December 2023 36,097 59.132 1.916 2.000 1,483.617 1.519.714 59.132 157,3321 {59,248) 341.098 1083 271 1 178 416 At 1st January 2022 Nel income (expend*ture)before nvestment gains N81 gains on investments At 31st December 2022 66.484 (30,387) 1,440.535 1,507,019 (30,387) 43,082 1519 714 43,082 7 483 617 10 DESIGNATED FUNDS General Invostment Qulnquennlal and contlngon¢l•s suNey rgserve SUPPOrt fund Total fund5 At 1st January 2023 Transfer from Income and Expendrture At 31st December 2023 2.313.186 343.098 2 656,284 3,215 2,316,401 2 659 499 At 1st January 2022 Transfer to Income and Expendiiure At 31st December 2022 2,313,186 3.215 2,376,401 2 313 186 2316 401 The general investment and contingencies reserve has arisen from the realised gains on investment disposals over a nUMr of years. It is held to support Ihe continuing operations of the charity. The quinquennial survey support fund has arisen from transfers made from the income and expenditure account. The funds are available to provide finanual support to churches requiring 8 survey of their premises. 11 RECONCILIATION OF MOVEMENT IN SHAREHOLDERS. FUNDS 2023 2022 Al 1st January Net incomellexpenditurel before iivestment gains Gains on investments Al 31st December 3.847,755 59.132 3.835.060 130,3871 43,082 3 847,755 3 849,555 Page 18
THE LONDON BAPTIST PROPERTY BOARD LIMITED NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31st DECEMBER 2023 {continued> 12 COMMITMENTS 2023 2022 The company has the folthvirYJ commitments at 31 sl December 531,000 269 000 13 AIIALYSIS OF NET ASSEfs BEfwEEN FUNDS 2023 Fixed a$$ets Net ¢urrent assels Total assets Unrostrfcted and deslgnated funds Income and expendf(ure Revaluation reserve General investment and conlwigencs reserve Quinquennral survey support fund 95.145 95.145 1.083.271 2,656,284 3,215 3837915 11,640 3 849 555 1.083.271 1.278,539 1,377.745 3.215 1476 105 2 361810 Share capltal 2 361810 1.487.745 2022 Flxed assets Net curnnt •sset$ Total assets Unrestrlcted and deslgnated funds Income and expenditure RevalUatn resetve General investment and conlin98nc*s reserve Quinquennial survey support fund 36,097 36,097 1,483,617 2,373,786 1,483,617 1.580.442 732.744 3 064,059 772.056 3836 115 Sharn ¢apltal 783 696 3 847 755 Pag8 19
THE LONDON BAPTIST PROPERTY BOARD LIMITED NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31st DECEMBER 2023 (continued) 14 RELATED PARTIES The key management personnel of the charity are considered to be related parties and the total employee benefits are set out in nole 3 above. The directors receive no rernuneration in respect of their services as directors. Total expenses of £8 were paid to one director during the year {2022.. Nil) for expenses incurred in carTying oul their duties. As disclosed on page 6. the Directors are variously Officers andlor members of churches which are affiliated lo the London Baptist A550ciation. and those churches may place deposits from lime to time with the LBPB. The rates payable on such dep051ts are identlC81 lo those offered lo all Churches. The 'A' shares are wholly owned by the London Baptist Association ILBAI (registered charity number 1091160, company number 04325272}. The object of the LBA is the advancement of Christianity in and through ils member churches individually and acting together. in accordance with the principles of the Baptist denomination. The LBA is affiliated lo the Baptist Union of Great Britain. The LBA seeks lo fulfil its purpose through resourcing. supporting and encouraging the life and mission of ils member churches. The company'$ results have been included in the consolidaled accounts which are available from the registered office. At the year end. the company had tho following loan and deposil balances with the LBA.. 2023 2022 Loans advanced Deposits hèld Inler8sl is received on the loans and paid on the deposits al the standard rates. Page 20
THE LONDON BAPTIST PROPERTY BOARD LIMITED CHURCHES AND ASSOCIATIONS FOR WHICH THE COMPANY WAS ACTING AS CUSTODIAN TRUSTEE at 31 DECEMBER 2023 IA) CHURCHES IN MEMBERSHIP wrrH THE LONDON BAPTIST ASSOCIATION Abbey Road Baplisi Church Central Baptist Chuith. Stiètford G¢wdmayes Bapli5t Chureh Acton Baptist Church (hadwell Heath Baptist Church Grange Park Baptist Church Albany Park Baptist Church Chalk Farm Baptist thurth Green Street Green Baptist Church Aldersbrook Baptist Church Charis Bapttst Church Greenford Baptist Church All Nations Baptist Church IOaF4bam Park Chatsworth 8aptist Church Greenleaf Road Baptist Church All Nations Church, Manor Park Chelsea Commvnity (hurch Haddon Hall Baoist Church Alperton 8apti5t Church Christ Church, New Southgate Hainault Bapt15t Church Amott Road Baptist Church 0.ty on the Hill Romanian Baptist Church Ham Christian Centfe Ashford Baptist Churth aapham Baptist Churth Hampstead Garden Suburb Free Ashford Common Bapt15t Church Claremont Free Churth Hampton Mission Partnership Ashurst Dnve 8aptist Church Ilford Gildhartojr Lane gapt15t Church Hammon Wick 8aptist Church Avenue Baptist Church Coney Hill Baptist Church Harfingtcffi Baptist Church 8aldwyns Park 8aptist Church Cranbrook 8aptls1 Church Harringay United Church-Baptist 8alharn Bèptist Church ayford Baptist Church Harnow Baptist Church Baptist chm Tamil Congre8atic Cricklewcojd Baptist Church Hatch End Free Churth Barkin8 Baptist Church Qofion Park Baptist Churth Haven Green Baptist Churth Barne$ Baptist Church Qoham Road Baptist Church ao HÈath Street Baptist Church Battersea Chapel Baptist Church Cr055 Street Baptist Church endon 8aptist Church Beckenham Baptist Church Crossway Rewval Baptist Churth Herne Hill Baptist Church Bedford Hill Baptlst Church Cr¢)wn Aoad Baptist (hurch Hersham 8aptisi Church CIO Belvedere 8aptist Church Custom House Baptisi Church ao HiBhams Pafk 8aptist Church Beihel 8aptlst Church tkep Water 8apt15t ChLWth Hi8hfield Road 8apti5t Church Blackheath and Charlton Baptist r(h Denmark Place Baptisi Church Hillin8don Park Baptist Church 81ackhorse Road Baptist Church Cisciples Baptist Church Hbther Green Baptist Church Bloomsbury Central Baptist Church Earlsfield Baptist Church ao Honor Oak Baptist Church Bonny Downs Baptist thurch (Newharnl East Barnet Baptisi Church Hornsey Rise Baptist Church Boston Road Baptist Church East Ham Bapt¢st Churth Illord High Road Baptist Church Bow Baptlsl Church East Hill Baptist Church Joy Christian Centre International Braemar Avenue Baptist Church East Plumstead Baptist Church Ken5al Rise Baptist Tabernacle Brandon Baptist Church East Sheen 8aptiSt Chuich Kenton 8aptist Church Brenrford Free Church Eastern Avenue Baptist Church Kingsbury Baptist Church Brighton Road Baptist Church Edmonton Baptisi Church Kingswood Community Church 8rixton Baptist Church Eldon Road Baptist Church Leytonstone United Free Church 8roadmead Baptist Church Eltham Park Baptist Church kewise Christian Ministries 8romley Baptist Church Emmanuel Bawist Church, Hourfjlow Lindsay Park Baptlsl Church Bromley Common 8apt15t Church Emmanuel Church (Thamesmeadl Little Ilford Baptist Church Brondesbury Christian Church Enfield Baptist thurch Livin8 Flames Baptist Chureh. Nèw Cross Brownhill Road 83ptist Church Epsom 8aptisi Church Centre Living Waters Baptist Church Buckhurst Hill Baptist Church Everyday (hurch Kingsto London Arabic Evangelital Church Camden Road Baptist Church Everyday thurch Southfields London Neiwork Church Camp5bwrne 8aptisi Church Faith Baptsst Church (LonI London Spanish-Speak¢n8 Baptist Church Camrose Baptist Church Finchley 8aptist Chuith Longheath Baptist Church Cann Hall & Harrow Green Baptist Churth F(xMS Cray Baptist Church Lordship lane Baptist Church Carshalton Bapt15t Church Frarnpton Park Baptist Church Major Road Baptist Church Carshalton Beeches Baptlst Free Church Fulham Baptist Church Manor Park Christian Centre Page 21
THE LONDON BAPTIST PROPERTY BOARD LIMITED CHURCHES AND ASSOCIATIONS FOR WHICH THE COMPANY WAS ACTING AS CUSTODIAN TRUSTEE al 31 DECEMBER 2023 Memorial Community Church RL¥Jin8 Lane Free (hurch Merton Park Baptist Church RrThfoTd Baptist Church Mill Hill East Church Royal Lxxks Community Church Mitcham 8aptist Church Ruislip Baptist Church Morden Baptist Church Rye Lant Baptist Chapel Morden Park Boptist Churth Salem 8aptist Church Muswell Hill Baptist thurch Stlsdon Baptisi (hurch Myanmar Christian Fellt)wship Shoreditch Tabemacle Baptisi Church New Addington Baptist Churth 5hrublands Christian Fellowship New Life Church Si(kup Baoist Church New River Baptist Chuith Slade Green Christian Ftllowshlp Norbury Baptist Church sOh +tsnwell Baptist Church North Cheam Baptist Church South Harrow Baptist Church North Hanwell Baptist Church South London Tabemacle North Peckham Baptist Church sOh Norwood Baptist thurch Northcote Road 8aptlst Church South Street Baptist Church Northolt Grange 8aptisi Church Southall Baptist Churth Nonholt Park Baptist Church Southb)rough Lane Baptist thurch Northumberland Heaih Baptist Church Springfield Bapiist Church 03k00d 8apt¢st Church Spruce Hsll Baptist Church Oasis Charitable Trust Si Andrew's Church. Walthamstcrw Oasis Church Colliers Wood Stanmore Baptist Church Old Lodge Lane Baptist Church Stoke Newingttsn Baptist Church Oldlield Free Church18apt15tl Stone Baptist Church Open Doors Baptist Church Stoneleigh Bapiist Church Paw50n5 Road Baptist Ctrwjrch Streatham Bapt15t Church Peckham Park Road 8apti5t Churth ao streaiham Vale Baptist thufch Pen8e 8aptist Church Stroud Green Baptisi Church Pentecost Bapt15t Church Sudbury Bapt15t Church Perry Rise Baptist Church Sulfdks Baptist Church Pinner Baptist Church Surbiton New Lile Baptist Church Pollard5 Hill Bapt15t Chvrch Sutton 8aptsst Chufch Purley Baptist Church Tasso Baptisr Church Quaystone Christlan Church Teddington Baptist Church 00 Queen Street Baptist Chuith Temple Hill Baptist Church Ravenscourt Baptist Church The Kin8's Cmss Baptist Church Rayners Lane Baptist Church The Well Community Church Tooting Junttion Baptist Church Tottenham Baptist Church Totterid8e Road Baptist Church Trinity Baptist Church, Woolwich Trinity Baptist Church Iwest Norwoodl Trinity Baptist Church 8exleyheath True Life 8aptist Church Twickenham Green Baptist Church Underhill 8aptist Church Uni¢)n Churth and Community Centre Upper Holloway 83pti51 Church Vietoria Park 8aptist Church Virtory Baptist Chureh. Tootin8 Victory Life Baptist Churth Wallington Baptist Church Waltham Abbey Baptlst Church Walton Baptist Church Wanstead Baptist Church Wealdstone Baptist Church Wellin8 Baptist Church West Crtydm 8aptist Church West Drayt¢)n Baptist Church West Green Baptist Church Wèst Hendon Baptist Church West Wickham & Shirtey Baptlst Church Westbury Avenue Baptist Churth Whitton Baptist Church Willesden Green Baptist Church Wimbledon & Th'strict KoreaTh 8aptlst Church Winchmore Hill Baptist thurch Woodford 8aptist Church Wo(ran8e Baptist Church Woodmansteme Baptist Church wlS1de Baptist Church Woolwich Central Baptist Church Worcester Park Baptist Church Yiewsley Baptlst Church Pag8 22
THE LONDON BAPTIST PROPERTY BOARD LIMITED CHURCHES AND ASSOCIATIONS FOR WHICH THE COMPANY WAS ACTING AS CUSTODIAN TRUSTEE al 31SI DECEMBER 2023 (continued) IB) CHURCHES IN MEMBERSHIP WITh THE EASTERN BAPTIST ASSOCIATION Betontiee Avenue Baptist Church Benfleet Baptist Church Brentwood Baptist Church Canvey Island Baptist Church Chase Cross Baptist Church Cranham Baptlsl Chur¢h Dagenham Baptist Church Earls Hall Baptist (l)urth. Westcliff Elm Park Baptist Church Friars Baptist Church Hadleigh Baptist Church Hawkwell BaptTrst a)urch Oxlow Lane Bapt15t Church Pilgrims Hatch Baptist Church Ramsden Bellhouse Baptist Church Shoeburyne55 and Thorpe Bay Baptist Shotgate Baptist Church Upminister Baptist Church Winter Garden5 8apt15t Church Wood Lane Baptist Church ICI CHURCHES IN MEMBERSHIP WITh OTHER ASSOCIATIONS Cippenham Baptist Church Dormansland Baprist Church Godstone 8aMist Church Life Church, Cufflev Potters Bar Baptist Church ID) CHURCHES NOT IN MEM8ERSHIP WITH AN ASSOCIATION Beulah Church 8i88in Hill Christian Fellowship Trust Central Baptist ChLbrch. Walthamstow Cheam Bapt15t Church Childs Hill Baptist Church Chiswick Baptist a)ur¢h City Hope Church London Clement5wood Bapt15t Church Comrnunity Church, Putnev Cranford Baptist Church Days Lane Bapt15t Church Ealin8 Road Baptist Church East Dulwich Tabernacle East Finchley 8aptisi Church East London T3m4¢Ie Baptist East Streei Baptist Church Elmslead Baptist Chufch EverWay Church Wimbled Gresham 8amist Church Gunner5bury Baptist Church Harmondsworth 8aptist a)yrch Hatton Road 8apti5t Church High Barnet BaptlSt Chur¢h Hitherfield Road Baptist Church Icthus New Life Centre, Greenwich King's Church l¥er King's Church London Leghorn Road Baptist Church Leon Baptist Church Lighthouse Baptist Church Metropolitan Tabernacle Olivet Baptist Church Twynholm Baptist Church Upney Baptist Church West Kilbum Baptist Church westUlne Grove Church Westminster Baptist Church (EI OTHER ORGANISATIONS Regent's Park Colle8e Spurgeon's &Ie8t The London Baptist AsslatIon Pago 23