2020-12-31-accounts - The King's House

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

REGISTERED CHARITY NUMBER: 1015766

Report of the Trustees and Unaudited Financial Statements for the Year Ended 31 December 2020 For THE KING'S HOUSE TRUST

Ray Ankrah & Associates Chartered Management Accountants 105 Bruce Grove London N17 6UR

THE KING'S HOUSE TRUST

Contents of the Financial Statements For the Year Ended 31 December 2020

	Page
Report of the Trustees	1 to 5
Independent Examiner's Report	6
Statement of Financial Activities	7
Balance Sheet	8
Notes to the Financial Statements	9 to 11
Detailed Statement of Financial Activities	12 to 13

THE KING'S HOUSE TRUST

Report of the Trustees

For the Year Ended 31 December 2020

The trustees present their report with the financial statements of the charity for the year ended 31 December 2020. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) 'Accounting and Reporting by Charities' issued in March 2005.

REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number 1015766

Principal address

4 Pegamoid Road Edmonton London N18 2NG

Trustees

Mr A Adeyemo Mrs O Ajayi Mrs O Peters Rev A Peters

Independent examiner

Ray Ankrah & Associates Chartered Management Accountants 105 Bruce Grove London N17 6UR

~ 3 ~

STRUCTURE, GOVERNANCE AND MANAGEMENT

Aims and Purpose

The principal aim of the charity is the advancement of the Christian Faith, its values and ideals in such ways and in such parts of the United Kingdom or the world as the Trustees from time to time may think fit. We also aim to relieve sickness and financial hardship, and to promote strong families and relationships.

We achieve these objectives by the provision of teachings, prayer, counselling and training provided mainly during our Sunday and Wednesday services.

The King’s House also remains committed to providing spiritual, emotional, pastoral, social, educational and practical support for its beneficiaries and anyone who needs our support – especially within the North London area. We also engage and organise local Community based initiatives and we collaborate with other local charities and voluntary organisations. These initiatives are open to the public, as well as to our regular members.

Leadership

The trustees are responsible for setting yearly budgets and expenses. They are aware of their duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error. The charity is controlled by its governing document, a deed of trust, and constitutes an unincorporated charity. The Pastors and Core Leadership are responsible for providing Spiritual Leadership to the King’s House members. They work closely with the trustees for the overall good of the Trust.

Every year, the Core Leaders attend Pastors Meetings and Leadership training and seminars where time is spent developing a corporate vision, sharing effective relational skills and best practice, and doing leadership appraisal. The Trustees usually meet with the Lead Pastors twice during the year. The King’s House Leadership meets regularly throughout the year.

Staff and Volunteers

The King’s House Trust currently has two full time Pastors, two part-time Pastors, and one part-time building maintenance / admin staff. We had a part-time Office Administrator for part of the year, but she left in August 2020 to start full time studies. In addition, we have part-time volunteers and helpers who help with various duties and some of them get paid volunteer costs or travel expenses. We have five elders, and over 20 Team Leaders/Coordinators, who also work on voluntary basis, helping to provide pastoral care, advice, and leadership support for our growing committed membership of 170+ adults and 70+ youths and children. (This number does not include scores of people from the community who attend or visit us from time to time; in order to benefit from our regular inspirational Worship Services, Seminars, Workshops, Movies, Drama presentations and other Community events).

~ 4 ~

Worship Services and Church life

We offer a range of Worship Services each week to cater for the needs of our growing multi-cultural congregation of about 240 Adults and children – from about 20 different countries. All of these services are open to anyone to attend. This year, due to the pandemic, we began streaming our Services Online on social media. This way we have been able to reach many more people in our local community and from around the world. Our Sunday Family Service caters for all ages, with Sunday School & Youth Classes for Children and Youth, and a Crèche for Babies and Toddlers. We also have weekly prayer meetings and weekly Wednesday Worship services for the whole congregation. These services were mostly done Online and via Zoom.

In addition, we held other virtual meetings occasionally, such as small group meetings, Youth Club, Men’s meetings, Women’s meetings, and Couples Event. These meetings were also open to visitors, neighbours, friends and the wider Community.

The Crown Complex (The Church Building)

The Charity shares its facilities with another Church Charity called DIADEM. Rental funds received is recorded as income, but is paid to the Council for the lease of the building. We also share our small hall, classrooms and other rooms with other individuals for an agreed contribution and all money received goes towards paying for the lease.

We continue to make sure that the building is in good repair and adequately insured. We have disability access to the building and our Health and Safety policies and Fire Safety procedures are in place, with serviced ADT intruder alarms and smoke detectors.

Bookshop

There is a small bookshop and resources stand that operates during our services and events, for the benefit of members and visitors. It provides and sells Bibles, books, DVD’s, CD’s and other Christian resources at discounted prices. The sales from all these items also formed a small portion of our income this year. The bookshop was not in operation for most of the year, due to the Pandemic restrictions.

ACTIVITIES OF THE TRUST THIS YEAR:

Financial Sources

The activities of the charity are financed by regular contributions in the form of donations, gifts, offerings and ‘tithes’ from our members, beneficiaries, and individual supporters. This year, we received most of our donations from Online and Paypal giving.

Other sources of income include Gift Aid from HMRC and Crown Complex Income.

~ 5 ~

Again this year, in spite of the Pandemic lockdown restrictions, as a result of the generosity of our regular financial contributors, we’ve been able to provide Pastoral Support for our growing members, hold weekly Worship Services on Sunday’s and Wednesday – both virtually and in-person, engage in Community Outreach, support the vulnerable, maintain our Building, and accomplish so much more.

Outreach, Welfare and Missions

We invested approximately £ 14,350 on Outreach initiatives, Missions, Ministry, Ministers and Welfare Support for serving and reaching out to people through various outreach initiatives and Care ministries both within and outside the Church. This included sponsoring 6 children monthly through ‘Compassion’, supporting various ministers and ministries, helping individuals in need; and engaging in overseas outreach missions. We continue to support the Nursery School in Ghana (Bernard and King’s Academy) that we helped to build in 2011 with the generous donations and contributions from our members.

The King’s House runs regular Community Outreach programs, seminars and from time to time distributes free motivational, ethical and moral literature dealing with Christian values; and offer free practical, emotional & spiritual advice and support where needed. Occasionally, token financial help (from our Welfare Fund) may be given where the need is considered genuine enough. We are also privileged to have been able to give welfare support and gifts to some members of the trust, and also support a number of Missions, Ministries and Ministers the UK.

Events

Due to the Pandemic and restrictions on large gatherings, we were only able to hold a few of our yearly events, and some of them were done virtually.

Easter Events: On Easter Sunday, we had an Online Worship Service to celebrate the resurrection of Jesus Christ.

GLS: A few of our leaders attended a 1 Day Virtual leadership event.

Christmas Food Outreach: At Christmas, as a result of the generous donations from our members, we were able to give out 100 Food Hampers and 50 Turkey Hampers to struggling families in our Community. We also gave some hampers to various charities to distribute to their users.

Other Activities:

Married couples had a Valentine’s Dinner event , with Games, Dance, Food, Fun and lot’s of surprises.
The men and the women each had virtual meetings during the year.
Mothering Sunday was celebrated virtually, but Fathers day was celebrated inperson. Every father in attendance received a token gift.

Internet: The Trusts’ website is: www.thekingshouse.co.uk

~ 6 ~

ON BEHALF OF THE BOARD :

............................................. Date: .................................. Rev. A. Peters

~ 7 ~

Independent Examiner's Report to the Trustees of THE KING'S HOUSE TRUST

I report on the accounts for the year ended 31 December 2020 set out on pages three to seven.

Respective responsibilities of trustees and examiner

The charity's trustees are responsible for the preparation of the accounts. The charity's trustees consider that an audit is not required for this year (under Section 144(2) of the Charities Act 2011 (the 2011 Act)) and that an independent examination is required.

It is my responsibility to:

Examine the accounts under Section 145 of the 2011 Act
To follow the procedures laid down in the General Directions given by the Charity Commission (under Section 145(5)(b) of the 2011 Act); and
To state whether particular matters have come to my attention.

Basis of the independent examiner's report

My examination was carried out in accordance with the General Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a 'true and fair view ' and the report is limited to those matters set out in the statements below.

Independent examiner's statement

In connection with my examination, no matter has come to my attention:

(1) which gives me reasonable cause to believe that, in any material respect, the requirements
to keep accounting records in accordance with Section 130 of the 2011 Act; and
to prepare accounts which accord with the accounting records and to comply with the accounting requirements of the 2011 Act

have not been met; or

(2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.

Ray Ankrah & Associates Chartered Management Accountants 105 Bruce Grove London N17 6UR

Date: .............................................

~ 8 ~

THE KING'S HOUSE TRUST Statement of Financial Activities For the Year Ended 31 December 2020 Notes INCOMING RESOURCES Incoming resources from generated funds Voluntary income Investment income 2 Incoming resources from charitable activities Charitable Activities Other incoming resources Total incoming resources RESOURCES EXPENDED Charitable activities Charitable Activities Governance costs Total resources expended NET INCOMING RESOURCES RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD	31.12.20 £ 192,323 3,565 35,878 59,161 290,927 194,106 880 194,986 95,941 382,089 478,030	31.12.19 £ 209,043 1,870 56,793 30,232 297,938 239,471 700 240,171 57,767 324,322 382,089

The notes form part of these financial statements

~ 9 ~

THE KING'S HOUSE TRUST

Balance Sheet At 31 December 2020 Notes FIXED ASSETS Tangible assets 5 CURRENT ASSETS Debtors 6 Cash at bank and in hand Prepayments Accrued income Accounts receivable NET CURRENT ASSETS CURRENT LIABILITIES Accruals and deferred income 8 Other creditors 7 TOTAL ASSETS LESS CURRENT LIABILITIES NON-CURRENT LIABILITIES(Amounts falling due after more than one year) Accruals and deferred income 8 Other creditors 7 NET ASSETS FUNDS 9 Unrestricted funds Current Years’ Earnings TOTAL FUNDS	31.12.20 £ 11,263 20,000 426,128 4,125 25,872 868 476,993 488,256 (0.00) (3,663) 384,985 - (6,563) 478,030 382,089 95,941 478,030	31.12.18 9 £ 12,502 20,023 325,103 0 30,356 5,841 381,323 393,825 (0.00) (5,177) 388,648 - (6,559) 382,089 324,322 57,767 382,089

The financial statements were approved by the Board of Trustees on ….......................................... and were signed on its behalf by:

….......................................... Rev A Peters Member Board of Trustees

The notes form part of these financial statements

~ 10 ~

THE KING’S HOUSE TRUST

Notes to the Financial Statements For the Year Ended 31 December 2020

1. ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention, and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008), the Charities Act 2011 and the requirements of the Statement of Recommended Practice, Accounting and Reporting by Charities.

Incoming resources

All incoming resources are included on the Statement of Financial Activities when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy.

Resources expended

Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Long leasehold - 6.67% on cost Plant and machinery - 25% reducing balance

Taxation

The charity is exempt from tax on its charitable activities.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

Pension costs and other post-retirement benefits

The charity operates a defined contribution pension scheme. Contributions payable to the charity’s pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

2. INVESTMENT INCOME

	31.12.20	31.12.1	9
	£	£
Deposit account interest	3,565	1,870

3. TRUSTEES’ REMUNERATION AND BENEFITS

There were no trustees’ remuneration or other benefits for the year ended 31 December 2020 nor for the year ended 31 December 2019.

Trustees’ expenses

There were no trustees’ expenses paid for the year ended 31 December 2020 nor for the year ended 31 December 2019.

~ 11 ~

THE KING’S HOUSE TRUST

Notes to the Financial Statements – continued For the Year Ended 31 December 2020

4. STAFF COSTS

31.12.20
£
Wages and salaries
100,319
Social security costs
5,419
Other pension costs
5,832
111,570
5.
TANGIBLE FIXED ASSETS
Long
leasehold
Plant and
machinery
Computer
equipment
£
£
£
COST
At 1 January 2020 and 31 December 2019
162,227
38,830
-
Additions during the year
-
2,516
-
162,227
41,346
DEPRECIATION
At 1 January 2020
162,227
26,328
-
Charge for year
-
3,755
-
At 31 December 2020
162,227
30,083
-
NET BOOK VALUE
At 31 December 2020
-
11,263
-
At 31 December 2019
-
12,502
-
6.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.20
£
Other debtors
Prepayment
20,000
-
7.
CREDITORS:
31.12.20
£
Other creditors (Amounts falling due within one year)
Other creditors (Amounts falling due after more than one year)
3,663
6,563

31.12.19
£
105,798
3,930
6,455
116,183
Totals
£
201,057
2,516
203,573
188,555
3,755
192,310
11,263
12,502
31.12.19
£
20,000
23
31.12.19
£
5,177
6,559

This page does not form part of the statutory financial statements

~ 12 ~

THE KING’S HOUSE TRUST

Notes to the Financial Statements – continued For the Year Ended 31 December 2020

8. ACCRUALS AND DEFERRED INCOME

			31.12.20	31.12.19
			£	£
	Accruals and deferred income		0	0
9.	MOVEMENT IN FUNDS
			Net movement
		At 1.1.20	in funds	At 31.12.20
		£	£	£
	Unrestricted funds
	General fund	382,089	95,941	478,030
	TOTAL FUNDS	382,089	95,941	478,030
	Net movement in funds, included in the above are as follows:
		Incoming	Resources	Movement in
		resources	expended	funds
		£	£	£
	Unrestricted funds
	General fund	290,927	(194,986)	95,941
		290,927	(194,986)	95,941
	TOTAL FUNDS

This page does not form part of the statutory financial statements

~ 13 ~

THE KING’S HOUSE TRUST

Detailed Statement of Financial Activities For the Year Ended 31 December 2020 INCOMING RESOURCES Voluntary income Gifts Gift aid Investment income Deposit account interest Incoming resources from charitable activities Sale of books and tapes Crown Complex Rent Play & Fitness Scheme Community Outreach Other incoming resources Miscellaneous Income Spice Village Income Special Event Couples Meetings Retreats / Outings Welfare Fund Building Fund CJRS Total incoming resources RESOURCES EXPENDED Charitable activities Wages Social security Pensions Rent, rates and water Insurance Light and heat Telephone Office Purchases, Stationery and Postage Advertising Sundries Website Cost Reference Books and Bibles Gifts to Missions & Ministries Guest Speakers and Artists Welfare Support and Gift Church Outing and Retreats Refreshments and Hospitality	31.12.20 £ 153,845 38,478 192,323 3,565 123 34,062 - 1,693 35,878 - 18 - 50 350 140 17,753 40,850 59,161 290,927 100,319 5,419 5,832 37,868 1,120 3,823 1,581 572 83 18 428 30 2,798 1,500 6,253 781 326	31.12.19 £ 167,674 41,369 209,043 1,870 859 51,523 3,266 1,145 56,793 1,500 249 3,428 - 3,615 770 20,670 - 30,232 297,938 105,798 3,931 6,455 50,094 1,565 7,214 1,046 352 206 2 263 206 3,664 980 5,932 6,098 1,568

This page does not form part of the statutory financial statements

~ 14 ~

Charitable activities Brought forward Transportation Training and Courses Special Events CD’s & Videos Furniture and Fixtures Building Works and Maintenance Youth Church & Other Ministries PC & PC Hardware Community Outreach and Missions Depreciation of tangible fixed assets Other Bills Book Shop Purchases Other Office Equipment and Maintenance Other Outreach & Missions Professional & Consultancy Fee Bank Charges Volunteers Costs Security Toilet Supplies Playscheme Outreach Governance costs Accountancy Total resources expended Net income	31.12.20 168,751 100 200 4,345 9 70 868 502 - 3,264 3,755 858 128 - 534 2,480 878 6,600 574 190 - 194,106 880 194,986 95,941	31.12.19 195,374 1,319 383 3,418 25 356 2,296 1,491 326 3,843 11,395 929 557 175 57 2,480 1,576 8,407 773 666 3,625 239,471 700 240,171 57,767

This page does not form part of the statutory financial statements

~ 15 ~