London Baptist Church
Registered number: 07863666
Statement of Financial Position
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 13,780 7,801
Current assets
Debtors 4 11,015 9,794
Cash at bank and in hand 1,821,876 1,281,752
1,832,891 1,291,546
Creditors: amounts falling due within one year 5 (2,102) (2,355)
Net current assets 1,830,789 1,289,191
Net assets 1,844,569 1,296,992
Funds
General funds 1,844,569 1,296,992
The Charity's total funds 1,844,569 1,296,992
The director are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
S H Kim
Chairperson
Approved by the board on 1 October 2024
London Baptist Church
Notes to the Accounts
for the year ended 31 December 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard), Charities SORP (FRS 102) and the Charities Act 2011.
Incoming resources
Incoming resources are recognised when entitlement has passed to the charity. Income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably. Legacy income is recognised when receipt is probable and entitlement is established. Income from donated goods is measured at the fair value of the goods unless it is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Income from donated facilities and services is recognised when received if the value can be reliabley measured.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 25% reducing balance
Motor vehicle 25% reducing balance
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Plant and machinery etc Motor vehicle Total
£ £ £
Cost
At 1 January 2023 5,522 27,200 32,722
Additions 10,572 - 10,572
At 31 December 2023 16,094 27,200 43,294
Depreciation
At 1 January 2023 4,176 20,745 24,921
Charge for the year 2,979 1,614 4,593
At 31 December 2023 7,155 22,359 29,514
Net book value
At 31 December 2023 8,939 4,841 13,780
At 31 December 2022 1,346 6,455 7,801
4 Debtors 2023 2022
£ £
Other debtors 11,015 9,794
5 Creditors: amounts falling due within one year 2023 2022
£ £
Other taxes and social security costs 722 491
Other creditors 1,380 1,864
2,102 2,355
6 Other information
London Baptist Church is a private company limited by guarantee and incorporated in England. Its registered office is:
Bible Study Community Centre Unit G1
148-150 Penwith Road
Earlsfield
London
SW18 4QB
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