Company registration number 14162145 (England and Wales)
STRONG TOWER BAPTIST CHURCH
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023
STRONG TOWER BAPTIST CHURCH
COMPANY INFORMATION
Directors
Mr Aaron Thompson
(Appointed 9 June 2022)
Mr Ian Taverner
(Appointed 9 June 2022)
Secretary
Company number
14162145
Registered office
Accountants
Caladine Limited
Chantry House
22 Upperton Road
Eastbourne
East Sussex
BN21 1BF
Business address
252/254 London Road
West Cliff on Sea
Southend on Sea
SS707JG
STRONG TOWER BAPTIST CHURCH
CONTENTS
Page
Directors' report
1
Accountants' report
2
Income statement
3
Statement of financial position
4
Notes to the financial statements
5 - 8
Detailed trading and profit and loss account
STRONG TOWER BAPTIST CHURCH
DIRECTORS' REPORT
FOR THE YEAR ENDED 30 SEPTEMBER 2023
- 1 -
The directors present their annual report and financial statements for the year ended 30 September 2023.
Principal activities
The principal activity of the company continued to be to advance the Christian Faith in accordance with the Statement of Faith.
We are an Independent Baptist church that focuses on the great commission of publishing the gospel to the community and beyond, alongside teaching the whole Bible to our congregation.
To do this we meet together three times per week for church services as follows:
Sundays at 10.30am, Sundays at 4pm and Wednesdays at 7pm.
Our church services include worship hymns, prayer, and reading and teaching from the Bible. All of our church services are family integrated, with the children learning as part of the service, under their parent’s supervision.
Additionally, we have multiple times each week when we go out to teach members of the local community and sometimes further afield, the gospel of Jesus Christ.
We have other outreach and fellowship events throughout the year, with a focus on reaching the lost as well as providing valuable fellowship time for our church members.
Public Benefit
The Directors consider that in carrying out the activities of the company, due regard to the public benefit requirements for similar churches have been made.
Directors
The directors who held office during the year and up to the date of signature of the financial statements were as follows:
Mr Aaron Thompson
(Appointed 9 June 2022)
Mr Ian Taverner
(Appointed 9 June 2022)
Small companies exemption
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
On behalf of the board
Mr Ian Taverner
Director
27 November 2023
STRONG TOWER BAPTIST CHURCH
REPORT TO THE DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY ACCOUNTS OF STRONG TOWER BAPTIST CHURCH
- 2 -
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Strong Tower Baptist Church for the year ended 30 September 2023 which comprise the income statement, the statement of financial position and the related notes from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal.com/gb/en/member/standards/rules-and-standards/rulebook.html.
This report is made solely to the board of directors of Strong Tower Baptist Church, as a body, in accordance with the terms of our engagement letter dated 14 June 2022. Our work has been undertaken solely to prepare for your approval the financial statements of Strong Tower Baptist Church and state those matters that we have agreed to state to the board of directors of Strong Tower Baptist Church, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at https://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Strong Tower Baptist Church and its board of directors as a body for our work or for this report.
It is your duty to ensure that Strong Tower Baptist Church has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Strong Tower Baptist Church. You consider that Strong Tower Baptist Church is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Strong Tower Baptist Church. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Caladine Limited
30 November 2023
Chartered Certified Accountants
Chantry House
22 Upperton Road
Eastbourne
East Sussex
BN21 1BF
STRONG TOWER BAPTIST CHURCH
INCOME STATEMENT
FOR THE YEAR ENDED 30 SEPTEMBER 2023
- 3 -
2023
£
Revenue
225,554
Administrative expenses
(213,836)
Profit before taxation
11,718
Tax on profit
Profit for the financial year
11,718
The income statement has been prepared on the basis that all operations are continuing operations.
STRONG TOWER BAPTIST CHURCH
STATEMENT OF FINANCIAL POSITION
AS AT
30 SEPTEMBER 2023
30 September 2023
- 4 -
2023
Notes
£
£
Current assets
Trade and other receivables
5
7,500
Cash and cash equivalents
6,378
13,878
Current liabilities
6
(2,160)
Net current assets
11,718
Equity
Called up share capital
Retained earnings
11,718
Total equity
11,718
For the financial year ended 30 September 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 27 November 2023 and are signed on its behalf by:
Mr Ian Taverner
Director
Company registration number 14162145 (England and Wales)
STRONG TOWER BAPTIST CHURCH
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023
- 5 -
1
Accounting policies
Company information
Strong Tower Baptist Church is a private company limited by shares incorporated in England and Wales. The registered office is Chantry House, 22 Upperton Road, Eastbourne, East Sussex, BN21 1BF.
The principal place of business is Strong Tower Baptist Church, 252/254 London Road, Westcliff on Sea, Southend on Sea, S50 7JG.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Income
Income is recognised when the Church is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the Church has been notified of the donation, unless performance conditions require deferral of the amount.
Legacies are recognised on receipt or otherwise if the Church has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
Income from trading activities is recognised when received.
1.3
Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.
Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.
Expenditure is recognised when there is an obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure is classified under the appropriate heading and includes irrecoverable VAT.
Expenditure relating to events is recognised when the event occurs.
Gifts and donations are recognised when paid.
STRONG TOWER BAPTIST CHURCH
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2023
1
Accounting policies (Continued)
- 6 -
1.4
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include trade and other receivables and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Basic financial liabilities
Basic financial liabilities, including trade and other payables, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
1.5
Employee benefits
Where material, the cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the Charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
1.6
Leases
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.
STRONG TOWER BAPTIST CHURCH
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2023
- 7 -
2
Judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
3
Exceptional item
2023
£
Income
Transfer from Sure Foundation Church
64,738
4
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2023
Number
Total
2
5
Trade and other receivables
2023
Amounts falling due within one year:
£
Other receivables
7,500
6
Current liabilities
2023
£
Other payables
2,160
STRONG TOWER BAPTIST CHURCH
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2023
- 8 -
7
Operating lease commitments
Lessee
The company has signed a lease for 252-254 London Road, Westcliff-on-Sea, for a term of 5 years to 18th June 2028 at a total cost of £114,000.
At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:
2023
£
114,000