2024-12-31-accounts - The King's House

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REGISTERED CHARITY NUMBER: 1015766

Report of the Trustees and Unaudited Financial Statements for the Year Ended 31 December 2024 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 2024

	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 2024

The trustees present their report with the financial statements of the charity for the year ended 31 December 2024. 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 organize local Community-based initiatives and we collaborate with other local charities and voluntary organizations. 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. We have 8 elders, and over 20 Team Leaders/Coordinators, who also work on a 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, neighbors, 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 of the building.

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.

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 – 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 Missions, Christian Ministries and Ministers, Care programs, and Community Outreach initiatives within and outside the Church. This included sponsoring 6 children monthly through ‘Compassion’.

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.

This year 2 Pastors went on an Outreach Mission to an Orphanage in Kenya, along with 12 church members who paid for their own expenses, making a team of 14 in total. It was a successful mission that left a lasting and life-changing impact, not only on the 33 orphans and 5 staff members in the orphanage, but also on the entire team that went on the trip.

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 new believers got baptised and made a public commitment to follow Christ.

Church Anniversary: TKH turned 24, and we celebrated during the whole month of September, with various special guests, art performances, and refreshments, etc.

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Youth Retreat and Youth Encounter: We organized a 3-day residential retreat for 22 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.

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:

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.
The men and the women each held breakfast meetings during the year to strengthen their bonds and support one another.
Mothering Sunday and Father’s Day . Every Mother and Father in attendance received a token gift.
Church Day Out: The whole Church Family had a summer day out to the seaside with lots of food, fun and games for the whole family.
Invite your Neighbors Day: We had a special Sunday service set aside to celebrate and acknowledge our neighbors, work colleagues and friends. Members were encouraged to invite their neighbors to church, and we held a reception for them after the service.
Foundation Classes & Membership Class: 14 Members went through Foundation Classes. 10 members also completed Membership Classes to become contributing members of TKH.
Weddings: One of our Young Adults got married.
Baby Dedication: 2 babies were dedicated.
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 :

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

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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 2024 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 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 2024
		31.12.24	31.12.23
	Notes	£	£
INCOMING RESOURCES
Incoming resources from generated funds
Voluntary income		227,740	241589
Investment income	2	30,357	8097
Incoming resources from charitable activities
Charitable Activities		81,158	73489
Other incoming resources		32,951	23235
Total incoming resources		372,206	346,410
RESOURCES EXPENDED
Charitable activities
Charitable Activities		271,496	235,202
Governance costs		880	880
Total resources expended		272,376	236,082
NET INCOMING RESOURCES		99,830	110,238
RECONCILIATION OF FUNDS
Total funds brought forward		753,849	643,521
TOTAL FUNDS CARRIED FORWARD		853,679	753,849

The notes form part of these financial statements

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THE KING'S HOUSE TRUST

Balance Sheet
As at 31 December 2024
		31.12.24	31.12.23
	Notes	£	£
FIXED ASSETS
Tangible assets	5	7,618	5353
CURRENT ASSETS
Debtors	6	20,000	20,000
Cash at bank and in hand		816,207	711,064
Prepayments		4,125	-
Accrued income		10,477	18,973
Accounts receivable		783	1,860
		851,592	751,897
TOTAL ASSETS		859,210	757,250
CURRENT LIABILITIES
Accruals and deferred income	8	-	-
Other creditors	7	(2,421)	(291)
TOTAL ASSETS LESS CURRENT
LIABILITIES		856,789	756,959
NON-CURRENT LIABILITIES(Amounts
falling due after more than one year)
Accruals and deferred income	8	-	-
Other creditors	7	(3110)	(3,110)
NET ASSETS		853,679	753849
FUNDS	9
Unrestricted funds		753,849	643,521
Current Years’ Earnings		99,830	110,328
TOTAL FUNDS		853,679	753,849
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 2024

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

	31.12.24	31.12.23
	£	£
Deposit account interest	30,357	8,097

3. TRUSTEES’ REMUNERATION AND BENEFITS

There were no trustees’ remuneration or other benefits for the year ended 31 December 2024 nor for the year ended 31 December 2023.

Trustees’ expenses

There were no trustees’ expenses paid for the year ended 31 December 2024 nor for the year ended 31 December 2023.

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THE KING’S HOUSE TRUST

Notes to the Financial Statements – continued For the Year Ended 31 December 2024

4. STAFF COSTS

				31.12.24	31.12.23
				£	£
	Wages and salaries			98,933	91,966
	Social security costs			3,462	5,568
	Other pension costs			5,460	5,878
				107,855	103,412
5.	TANGIBLE FIXED ASSETS
		Long	Plant and	Computer
		leasehold	machinery	equipment	Totals
		£	£	£	£
	COST
	At 1 January 2024 and 31 December 2023	162,227	42,603	-	204,830
	Additions during the year	-	4,804-	-	4,804
		162,227	47,407		209,634
	DEPRECIATION
	At 1 January 2024	162,227	37,250	-	199,477
	Charge for year	-	2,539	-	2,539
	At 31 December 2024	162,227	39,789	-	202,016
	NET BOOK VALUE
	At 31 December 2024	-	7,618	-	7,618
	At 31 December 2023	-	5,353	-	5,353
6.	DEBTORS: AMOUNTS FALLING DUE WITHIN ONE		YEAR
				31.12.24	31.12.23
					£
	Other debtors
				20,000	20,000
7.	CREDITORS:
				31.12.24	31.12.23
				£	£
	Other creditors (Amounts falling due within one year)			2,421	291
	Other creditors (Amounts falling due after more than one year)			3,110	3,110

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 For the Year Ended 31 December 2024

8. ACCRUALS AND DEFERRED INCOME

			31.12.24	31.12.23
			£	£
	Accruals and deferred income		-	-
9.	MOVEMENT IN FUNDS
			Net movement
		At 1.1.24	in funds	At 31.12.24
		£	£	£
	Unrestricted funds
	General fund	753,849	99,830	853,679
	TOTAL FUNDS	753,849	99,830	853,679
	Net movement in funds, included in the above are as follows:
		Incoming	Resources	Movement in
		resources	expended	funds
		£	£	£
	Unrestricted funds	372,206	(272376)	99,830
	General fund

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 2024
	31.12.24	31.12.23
	£	£
INCOMING RESOURCES
Voluntary income
Gifts	181,792	195,077
Gift aid	45,948	46,512
	227,740	241,589
Investment income
Deposit account interest	30,357	8,097
Incoming resources from charitable activities
Book Shop Sales		78
Crown Complex Rent	79,633	71,006
Community Outreach	1,525	2,405
	81,158	73,489
Other incoming resources
Goshenland	195	132
Special Events		-
Missions	13,350	1667
Retreats / Outings	6,306	3,060
Welfare Fund	-	10,500
Building Fund	13,100	7876
	-
	32,951	23,235
Total incoming resources	372,206	346,410
RESOURCES EXPENDED
Charitable activities
Wages	98,933	91,966
Social security	3,462	5,568
Pensions	5,460	5,878
Rent & Rates	49,500	49,780
Water	1,312	662
Insurance	1,864	1,794
Electricity	14,264	7,939
Telephone	490	462
Office Purchases, Stationery and Postage	583	61
Website Cost	270	154
Reference Books and Materials	75	146
Gifts to Missions & Ministries	3,490	6,947
Guest Speakers and Artists	3,741	5,174
Welfare Support and Gift	8,111	16,461
Church Outing and Retreats	10,054	7,994
Refreshments and Hospitality	2,193	1,370
Other Outreach &Missions	16,815	-

This page does not form part of the statutory financial statements

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Charitable activities

		31.12.24	31.12.23
	Balance Brought Forward	220,617	202,356
Transportation		1,709	297
Training and Courses		550	552
Special Events		3,259	2,900
Musical Instruments		2,882	-
Furniture and Fixtures & Decorations		702	100
Building Works and Maintenance		9,280	1,668
Toilet Area Maintenance		990
Youth Church & Other Ministries		2,335	1,945
Teams/Ministries in Church		130
PC & PC Hardware		185
Community Outreach and Missions		7,225	6,013
Depreciation of Tangible Fixed Assets		2,539	1,785
Licensing & Other Bills		2,341	488
Media Equipment		91	1,777
Professional & Consultancy Fee		2,480	2,480
Bank Charges		346	363
Volunteers Costs		9,374	11,250
Security		4,136	626
Toilet Supplies		325	512
Other Office Equipment			90
Governance costs
Accountancy		880	880
Total resources expended		272,376	236,082
Net Income		99,830	110,328

This page does not form part of the statutory financial statements ~ 12 ~