REGISTERED CHARITY NUMBER: 1015766
Report of the Trustees and Unaudited Financial Statements for the Year Ended 31 December 2023 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 2023
| 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 2023
The trustees present their report with the financial statements of the charity for the year ended 31 December 2023. 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 deem 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, prayers, counselling and training provided mainly during our Sunday and Midweek 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 appraisals. 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, one part-time building maintenance / admin staff and one part-time Youth Leader. 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 when needed. We have 8 elders, and over 20 Team Leaders/Coordinators, who also work on voluntary basis, helping to provide some 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.
During the midweek we have weekly Prayer meetings, Bible Studies, Small group meetings, Men’s meetings, Women’s meetings, Youth Club 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 individuals and community groups (including an Adult Day Care) for an agreed contribution, and all money received goes towards paying for the lease and maintenance of the Crown Complex.
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.
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.
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 the Crown Complex contributions.
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 – both virtually and inperson, 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 Missions, Christian Ministries and Ministers, Care programs, and Community Outreach initiatives 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 organised an evening of Drama, Dance, Music etc. On Easter Sunday, we had a Worship Service to celebrate the resurrection of Jesus Christ.
Water Baptism: 7 members got baptised and made a public commitment to follow Christ.
Church Anniversary: TKH turned 23, and we celebrated during the whole month of September, with various special guests, art performances, and refreshments, etc.
Youth Retreat and Youth Encounter: We organised a 2-day residential retreat for 18 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:
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Couples Valentine Event: This year, the event was held at our Church premises, to strengthen marriages in our Church, with Games, Food, Fun and lot’s of surprises.
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The men and the women each held breakfast meetings during the year to strengthen their bonds and support one another.
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Mothering Sunday and Fathers day . Every Mother and Father in attendance received a token gift.
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Church Day Out: The whole Church Family had a Summer day out with lots of food, fun and games for the whole family.
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Pursuit Training: We hosted a ‘Pursuit’ Training Course organised by Billy Graham Evangelistic Association for our Youth and Young Adults. The Course helped deepen their understanding of the Christian Faith and also provided them with the tools to boldly share the message of Jesus with others.
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Foundation Classes & Membership Class: 7 Members went through Foundation Classes. 7 members also completed Membership Classes to become contributing members of TKH.
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Weddings: Two of our Young Adults got married.
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Baby Dedication: 2 babies were dedicated.
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Volunteers Appreciation: Every volunteer was appreciated for their contribution to the growth and health of the Trust—with a token gift at Christmas.
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 2023 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:
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Examine the accounts under Section 145 of the 2011 Act
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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
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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:
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(1) which gives me reasonable cause to believe that, in any material respect, the requirements
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to keep accounting records in accordance with Section 130 of the 2011 Act; and
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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 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 2023 | |||
| 31.12.23 | 31.12.22 | ||
| Notes | £ | £ | |
| INCOMING RESOURCES | |||
| Incoming resources from generated funds | |||
| Voluntary income | 241,589 | 221,639 | |
| Investment income | 2 | 8,097 | 926 |
| Incoming resources from charitable activities | |||
| Charitable Activities | 73,489 | 68,708 | |
| Other incoming resources | 23,235 | 5,318 | |
| Total incoming resources | 346,410 | 296,591 | |
| RESOURCES EXPENDED | |||
| Charitable activities | |||
| Charitable Activities | 235,202 | 208,972 | |
| Governance costs | 880 | 880 | |
| Total resources expended | 236,082 | 209,852 | |
| NET INCOMING RESOURCES | 110,328 | 86,739 | |
| RECONCILIATION OF FUNDS | |||
| Total funds brought forward | 643,521 | 556,782 | |
| TOTAL FUNDS CARRIED FORWARD | 753,849 | 643,521 |
The notes form part of these financial statements
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THE KING'S HOUSE TRUST
| Balance Sheet | |||
|---|---|---|---|
| As at 31 December 2023 | |||
| 31.12.23 | 31.12.22 | ||
| Notes | £ | £ | |
| FIXED ASSETS | |||
| Tangible assets | 5 | 5,353 | 7,138 |
| CURRENT ASSETS | |||
| Debtors | 6 | 20,000 | 20,000 |
| Cash at bank and in hand | 711,064 | 610,745 | |
| Prepayments | - | 2,243 | |
| Accrued income | 18,973 | 11,926 | |
| Accounts receivable | 1,860 | 95 | |
| 751,897 | 645,009 | ||
| NET CURRENT ASSETS | 757,250 | 652,147 | |
| CURRENT LIABILITIES | |||
| Accruals and deferred income 8 | Accruals and deferred income 8 | - - | - - |
| Other creditors 7 |
7 | (291) (2,055) | (291) (2,055) |
| TOTAL ASSETS LESS CURRENT | |||
| LIABILITIES | 756,959 | 650,092 | |
| NON-CURRENT LIABILITIES(Amounts | |||
| falling due after more than one year) | |||
| Accruals and deferred income | 8 | - | - |
| Other creditors | 7 | (3,110) | (6,571) |
| NET ASSETS | 753,849 | 643,521 | |
| FUNDS | 9 | ||
| Unrestricted funds | 643,521 | 556,782 | |
| Current Years’ Earnings | 110,328 | 86,739 | |
| TOTAL FUNDS | 753,849 | 643,521 |
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 2023
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 | Long leasehold | - 6.67% on cost |
|---|---|---|
| Plant and machinery | 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
| 31.12.23 | 31.12.22 | 31.12.22 | |||
|---|---|---|---|---|---|
| £ | £ | ||||
| Deposit account interest | Deposit account interest | Deposit account interest | 8,097 | 926 |
3. TRUSTEES’ REMUNERATION AND BENEFITS
There were no trustees’ remuneration or other benefits for the year ended 31 December 2023 nor for the year ended 31 December 2022.
Trustees’ expenses
There were no trustees’ expenses paid for the year ended 31 December 2023 nor for the year ended 31 December 2022.
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THE KING’S HOUSE TRUST
Notes to the Financial Statements – continued For the Year Ended 31 December 2023
4. STAFF COSTS
| 31.12.23 | 31.12.22 | ||||||||
|---|---|---|---|---|---|---|---|---|---|
| £ | £ | ||||||||
| Wages and salaries | 91,966 | 91,234 | |||||||
| Social security costs | 5,568 | 4,317 | |||||||
| Other pension costs | 5,878 | 5,772 | |||||||
| 103,412 | 101,323 | ||||||||
| 5. | TANGIBLE FIXED ASSETS | ||||||||
| Long | Plant and | Plant and | Computer | ||||||
| leasehold | machinery | equipment | Totals | ||||||
| £ | £ | £ | £ | ||||||
| COST | |||||||||
| At 1 January 2023 and 31 December 2022 | 162,227 | 42,603 | - | 204,830 | |||||
| Additions during the year | - | - | - | - | |||||
| 162,227 | 42,603 | 204,830 | |||||||
| DEPRECIATION | |||||||||
| At 1 January 2023 | 162,227 | 35,465 | - | 197,692 | |||||
| Charge for year | - | 1,785 | - | 1,785 | |||||
| At 31 December 2023 | 162,227 | 37,250 | - | 199,477 | |||||
| NET BOOK VALUE | |||||||||
| At 31 December 2023 | - | 5,353 | - | 5,353 | |||||
| At 31 December 2022 | - | 7,138 | - | 7,138 | |||||
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||||||
| 31.12.23 | 31.12.22 | ||||||||
| £ | £ | ||||||||
| Other debtors | 20,000 | 20,000 | |||||||
| 7. | CREDITORS: | ||||||||
| 31.12.23 | 31.12.22 | ||||||||
| £ | £ | ||||||||
| Other creditors (Amounts falling due within one year) | 291 | 2,055 | |||||||
| Other creditors (Amounts falling due after more than one year) | 3,110 | 6,571 |
This page does not form part of the statutory financial statements
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THE KING’S HOUSE TRUST
| Notes to the Financial Statements–continued | Notes to the Financial Statements–continued | ||||
|---|---|---|---|---|---|
| For the Year Ended 31 December 2023 | For the Year Ended 31 December 2023 | ||||
| 8. | ACCRUALS AND DEFERRED INCOME | ||||
| 31.12.23 | 31.12.22 | ||||
| £ | £ | ||||
| Accruals and deferred income | - | - | |||
| 9. | MOVEMENT IN FUNDS | ||||
| Net movement | Net movement | ||||
| At 1.1.23 | in funds | At 31.12.23 | |||
| £ | £ | £ | |||
| Unrestricted funds | |||||
| General fund | 643,521 | 110,328 | 753,849 | ||
| TOTAL FUNDS | 643,521 | 110,328 | 753,849 | ||
| Net movement in funds, included in the above are as follows: | |||||
| Incoming | Resources | Movement in | Movement in | ||
| resources | expended | funds | |||
| £ | £ | £ | |||
| Unrestricted funds | |||||
| General fund | 346,410 | (236,082) | 110,328 | ||
| TOTAL FUNDS | 346,410 | (236,082) | 110,328 |
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 2023
| 31.12.23 | 31.12.22 | |||
|---|---|---|---|---|
| £ | £ | |||
| INCOMING RESOURCES | ||||
| Voluntary income | ||||
| Gifts | 195,077 | 184,233 | ||
| Gift aid | 46,512 | 37,406 | ||
| 241,589 | 221,639 | |||
| Investment income | ||||
| Deposit account interest | 8,097 | 926 | ||
| Incoming resources from charitable activities | ||||
| Book Shop Sales | 78 | 26 | ||
| Crown Complex Rent | 71,006 | 66,256 | ||
| Community Outreach | 2,405 | 2,426 | ||
| 73,489 | 68,708 | |||
| Other incoming resources | ||||
| Goshenland | 132 | 132 | 137 | 137 |
| Special Events | - | - | 691 | 691 |
| Missions | 1,667 | 1,667 | 650 | 650 |
| Retreats / Outings | 3,060 | 3,060 | 1,335 | 1,335 |
| Welfare Fund | 10,500 | 10,500 | 1,775 | 1,775 |
| Building Fund | 7,876 | 7,876 | 730 | 730 |
| CJRS | - | - | ||
| 23,235 | 5,318 | |||
| Total incoming resources | 346,410 | 296,591 | ||
| RESOURCES EXPENDED | ||||
| Charitable activities | ||||
| Wages | 91,966 | 91,234 | ||
| Social security | 5,568 | 4,317 | ||
| Pensions | 5,878 | 5,772 | ||
| Rent, rates and water | 50,442 | 50,884 | ||
| Insurance | 1,794 | 1,705 | ||
| Light and heat | 7,939 | 5,253 | ||
| Telephone | 462 | 422 | ||
| Office Purchases, Stationery and Postage | 61 | 73 | ||
| Advertising | - | - | ||
| Sundries | - | - | ||
| Website Cost | 154 | 67 | ||
| Reference Books and Bibles | 146 | 341 | ||
| Gifts to Missions & Ministries | 6,947 | 4,396 | ||
| Guest Speakers and Artists | 5,174 | 3,609 | ||
| Welfare Support and Gift | 16,461 | 9,370 | ||
| Church Outing and Retreats | 7,994 | 1,469 | ||
| Refreshments and Hospitality | 1,370 | 1,600 |
This page does not form part of the statutory financial statements
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| 31.12.23 | 31.12.22 | |
|---|---|---|
| Charitable activities | ||
| Brought Forward | 202,356 | 180,512 |
| Transportation | 297 | 2,062 |
| Training and Courses | 552 | 75 |
| Special Events | 2,900 | 2,029 |
| CD’s & Videos | - | - |
| Musical Instruments | - | 6 |
| Furniture and Fixtures | 100 | 45 |
| Building Works and Maintenance | 1,668 | 1,200 |
| Youth Church & Other Ministries | 1,945 | 1,794 |
| PC & PC Hardware | - | 144 |
| Community Outreach and Missions | 6,013 | 5,363 |
| Depreciation of Tangible Fixed Assets | 1,785 | 2,379 |
| Other Bills | 488 | 959 |
| Book Shop Purchases | - | 44 |
| Media Equipment | 1,777 | 279 |
| Professional & Consultancy Fee | 2,480 | 2,480 |
| Bank Charges | 363 | 395 |
| Volunteers Costs | 11,250 | 7,500 |
| Security | 626 | 1,110 |
| Toilet Supplies | 512 | 596 |
| Playscheme Outreach | - | - |
| Other Office Equipment | 90 | - |
| 235,202 | 208,972 | |
| Governance costs | ||
| Accountancy | 880 | 880 |
| Total resources expended | 236,082 | 209,852 |
| 110,328 | 86,739 | |
| Net income |
This page does not form part of the statutory financial statements
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