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 |
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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 |