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2022-12-31-accounts

REGISTERED CHARITY NUMBER: 1015766

Report of the Trustees and Unaudited Financial Statements for the Year Ended 31 December 2022 For

THE KING'S HOUSE TRUST

Ray Ankrah & Associates Limited 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 2022

Page
Report of the Trustees 1 to 4
Independent Examiner's Report 5
Statement of Financial Activities 6
Balance Sheet 7
Notes to the Financial Statements 8 to 10
Detailed Statement of Financial Activities 11 to 12

THE KING'S HOUSE TRUST

Report of the Trustees For the Year Ended 31 December 2022

The trustees present their report with the financial statements of the charity for the year ended 31 December 2022. 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 Limited Chartered Management Accountants 105 Bruce Grove London N17 6UR

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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, counseling 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 Pastoral team and Core Leaders 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 Pastoral team Meetings, 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 rest of the Leadership meet 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. 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.

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 from about 20 different nations. All of these services are open to anyone to attend, and some of them are streamed live on social media. This way we are able to reach many more people in our local community and 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 Midweek Worship services, mostly done Online or via Zoom.

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

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The Crown Complex (The Church Building)

The Charity shares its facilities with another 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 community groups and 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, 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 free will 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.

Again this year, 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

This year we invested financially into various Community Outreach initiatives, Missions, Christian Ministries and Ministers, and to Care programs both within and outside the Church. This included sponsoring 6 children monthly through ‘Compassion’, and giving financial support to an Orphanage in Kenya. We were also privileged to have been able to give welfare support and gifts (from our Welfare Fund) to some members of the trust, where the need was considered genuine.

The King’s House continues to run Community Outreach programs, seminars and from time to time, distributes free motivational, ethical and moral literature dealing with Christian values; and offers free practical, emotional & spiritual advice and support where needed.

Events

Easter Events: On Good Friday our in-house Performing Arts Team – Dynamic Arts organized an evening of Drama, Dance, Music etc. On Easter Sunday, we had a Worship Service to celebrate the resurrection of Jesus Christ.

Water Baptism: 4 members got baptised and made a public commitment to follow Christ.

Church Anniversary: TKH turned 22, and we celebrated during the whole month of September, with various special guests, art performances, and refreshments etc.

Youth Retreat and Youth Encounter: We organized a 2-day residential retreat for 16 of our Youth. Also, our yearly Youth Encounter event took place to empower our Youth and equip them with tools to navigate life as teens and young adults.

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Christmas Food Outreach: At Christmas, as a result of the generous donations from our members, we were able to give out 200 Food Hampers to struggling families in our Community and to various charities to distribute to their vulnerable users.

Other Activities:

Internet

The Trust website is: www.thekingshouse.co.uk

ON BEHALF OF THE BOARD :

…………………………….

Rev. A. Peters

……………………………

Date

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

I report on the accounts for the year ended 31 December 2022 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:

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:

have not been met; or

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

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

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THE KING'S HOUSE TRUST

Statement of Financial Activities
For the Year Ended 31 December 2022
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		 31.12.22
£
221,639
926
68,708
5,318
296,591
208,972
880
209,852
86,739
556,782
643,521		 31.12.21
£
200,450
1,729
49,450
31,353
282,982
203,350
880
204,230
78,752
478,030
556,782

The notes form part of these financial statements

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THE KING'S HOUSE TRUST

Balance Sheet
At 31 December 2022
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		 31.12.22
£
7,138
20,000
610,745
2,243
11,926
95
645,009
652,147
(0.00)
(2,055)
650,092
-
(6,571)
643,521
556,782
86,739
643,521		 31.12.21
£
9,009
20,000
515,104
6,560
15,160
576
557,400
566,409
(0.00)
(3,063)
563,346
-
(6,564)
556,782
478,030
78,752
556,782

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

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THE KING’S HOUSE TRUST

Notes to the Financial Statements For the Year Ended 31 December 2022

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

31.12.22 31.12.22 31.12.21
£ £
Deposit account interest 926 1,729

3. TRUSTEES’ REMUNERATION AND BENEFITS

There were no trustees’ remuneration or other benefits for the year ended 31 December 2022 nor for the year ended 31 December 2021.

Trustees’ expenses

There were no trustees’ expenses paid for the year ended 31 December 2022 nor for the year ended 31 December 2021.

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THE KING’S HOUSE TRUST

Notes to the Financial Statements – continued For the Year Ended 31 December 2022

4. STAFF COSTS

31.12.22
£
Wages and salaries
91,234
Social security costs
4,317
Other pension costs
5,772
101,323
5.
TANGIBLE FIXED ASSETS
Long
leasehold
Plant and
machinery
Computer
equipment
£
£
£
COST
At 1 January 2022 and 31 December 2021
162,227
42,094
-
Additions during the year
-
509
-
162,227
42,603
DEPRECIATION
At 1 January 2022
162,227
33,086
-
Charge for year
-
2,379
-
At 31 December 2022
162,227
35,465
-
NET BOOK VALUE
At 31 December 2022
-
7,138
-
At 31 December 2021
-
9,009
-
6.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.22
£
Other debtors
20,000
7.
CREDITORS:
31.12.22
£
Other creditors (Amounts falling due within one year)
Other creditors (Amounts falling due after more than one year)
2,055
6,571		 31.12.21
£
91,253
4,934
5,603
101,790
Totals
£
204,321
509
204,830
195,313
2,379
197,692
7,138
9,009
31.12.21
£
20,000
31.12.21
£
3,063
6,564

This page does not form part of the statutory financial statements

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THE KING’S HOUSE TRUST THE KING’S HOUSE TRUST
Notes to the Financial Statements–continued
For the Year Ended 31 December 2022
8. ACCRUALS AND DEFERRED INCOME
31.12.22 31.12.21
£ £
Accruals and deferred income 0 0
9. MOVEMENT IN FUNDS
Net movement
At 1.1.22 in funds At 31.12.22
£ £ £
Unrestricted funds
General fund 556,782 86,739 643,521
TOTAL FUNDS 556,782 86,739 643,521
Net movement in funds, included in the above are as follows:
Incoming Resources Movement in
resources expended funds
£ £ £
Unrestricted funds
General fund 296,591 (209,852) 86,739
296,591 (209,852) 86,739
TOTAL FUNDS

This page does not form part of the statutory financial statements

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THE KING’S HOUSE TRUST

Detailed Statement of Financial Activities For the Year Ended 31 December 2022

INCOMING RESOURCES
Voluntary income
Gifts
Gift aid
Investment income
Deposit account interest
Incoming resources from charitable activities
Book Shop Sales
Crown Complex Rent
Community Outreach
Other incoming resources
Spice Village Income
Special Events
Missions
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		 31.12.22
£
184,233
37,406
221,639
926
26
66,256
2,426
68,708
137
691
650
1,335
1,775
730
-
5,318
296,591
91,234
4,317
5,772
50,884
1,705
5,253
422
73
0
0
67
341
4,396
3,609
9,370
1,469
1,600		 31.12.21
£
164,912
35,538
200,450
1,729
145
47,640
1,665
49,450
-
-
-
-
945
5,122
25,286
31,353
282,982
91,253
4,934
5,603
50,293
1,680
5,348
43
140
67
0
433
180
2,664
2,650
8,565
763
944

This page does not form part of the statutory financial statements

~ 11 ~

Charitable activities
Brought forward
Transportation
Training and Courses
Special Events
CD’s & Videos
Musical Instruments
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
Media Equipment
Professional & Consultancy Fee
Bank Charges
Volunteers Costs
Security
Toilet Supplies
Governance costs
Accountancy
Total resources expended
Net income		 31.12.22
180,512
2,062
75
2,029
-
6
45
1,200
1,794
144
5,363
2,379
959
44
279
2,480
395
7,500
1,110
596
208,972
880
209,852
86,739		 31.12.21
175,560
1
-
4,830
-
-
348
966
454
65
6,214
3,003
592
100
297
2,480
395
7,050
830
165
203,350
880
204,230
78,752

This page does not form part of the statutory financial statements

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