Charity registration number 1038793 KING'S CHURCH KESWICK ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Gibbons Chartered Accountants & Tax Advisers SEAV SOI UTI C)IN5 j
KING'S CHURCH KESWICK LEGAL AND ADMINISTRATIVE INFORMATION Trustees Mr A Wightman Mrs C Morgan Mr N Lockwood Charity number 1038793 Princlpal address 61 Trinity Way Keswick Cumbria CA12 4HZ Independent examlner Mr T Hindmoor BFP FCA Gibbons Lakeland Office 2 Europe Way Cockermoulh Cumbria CA13 ORJ
KING'S CHURCH KESWICK CONTENTS Page Trustees report Independent examiner's report Statement of financial activities Balance sheet Notes to the financial statements 6-14
KING'S CHURCH KESWICK TRUSTEES REPORT FOR THE YEAR ENDED 31 DECEMBER 2023 The trustees present their annual report and financial statements for the year ended 31 December 2023. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Charities Act 2011 and "Accounting and Reporting by Charities.. Stalement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021" (effective 1 January 2019). Objectlves and activitles Kings Church is a Registered Charity operating within the terms of its Constitution (first approved by the Charity Commission in 2004> and updated and approved again in 2007. Ils finance and governance are independently discharged by its Trustees and Elders. Kings Church is affiliated to the Newfronliers Group of Churches {Christcentral} who supply guidance and support as requested. Kings Church Keswick's primary objective is to promote the biblical Christian Faith for the public benefit, and it seeks to do this through the avenues shown below.. 1. Meetings and other activities promoted by the Trustees and Elders within the wide range of objectives listed in Clause 2 of ils Constitution. From 2006 onwards, these activities have been undertaken in C¢>operalion wilh other Newfrontiers affiliated churches across Cumbria and the North of England. Kings Church and its members also offer financial support to Christian works overseas,. notably to a local church school in Clarens, South Africa. 2. The Church conlinues to meet on Sundays al the St. Herbert's School. Trinity Way, Keswick. 3. The parent and carers toddler group are now meeting in one of the rooms at Ihe Rawnsley Centre. CctaCt with the families is maintained by the Group Leaders using telephones and social media. 4. Breakthru, for young people aged 11 to 16, both from Church families and those within the wider Keswick community, meet on Sunday Evenings at the home of Angus and Andrea Wightman. We continue to join with Sl. John's Church in delivering Messy Church. The meetings take place once a month on the second Sunday. Angus Wightman conlinues to support local primary and secondary schools, making an active input both to their assemblies and classroom activities Management of the Church and Its finances The church's financial affairs are not complex and are principally concerned with the management of its cash flow against monlhly receipts and payments. It has no investments and only limited material assets. The responsibility for the management of Kings Church and its finances rests with the Elders and Trustees. Angus Wightman continued in his role as the paid Elder and Chair of the Trustees, however due to the severe reduction in Church income. he has reduced his working days to two per week, Angus is supported in his role by o unpaid Trustees, Nimrod Lockwood, and Christine Morgan. Susan Higson serves as Secretary to the Truslees. The Treasurer, Brenda Tsintas, manages and banks the church's cash receipts and pays the bills. Church finances are overseen by Christine Morgan who is chair of the remunerations committee. Because of the nature of Kings Church's operations, the Trustees, policy is to retain a significantly low-risk bank balance. Al the end of 2023, Kings Church had a composile bank balance of £34,051.34 in its accounts at Barclays Bank. At the end of 2022, this sum stood at £19,780.45 - a net movement in funds of £14,270.89 over the period covered by this report.
KING'S CHURCH KESWICK TRUSTEES REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Glfts recelved and rnade by KCK to other churches and Christlan Charltles The greater part of lQngs Church's Income in 2023 came from the customary tithes and gifts of its members. No grants were solicited or received from any external charities. During the year the church received a generous gift of £10,000 from a couple who have visited the church on numerous occasions. From a lolal income of £66.172 (including Gift Aid refund5) the Church gave away £4,089. equivalent to 60h of this lotsl. From members committed giving. the Church made 12 consecutive monthly transfers in favour of the following tmo Charilles., NewlrontierslChrlst¢enlral Dlhlabeng Ghurch School a total of £2,400 a lotal of £1,200 The Church's Youth Activitles In 2023 Our youth mlnistry In 2023 had a mainly internal emph8$is, focuslng on our Breakout activities. Employèe8 and voluntary workers Fiona Overend continues in a paid role as part-time secrelarylrecepiionist in th8 Church Offi¢e', However, she tended her resignation effective from 22nd December 2023 and aspects of her role have been assumed by Angus Wightman and several volunteers. Leadership of Breaklhru continued under Ihe auspices of Andrea Wighlman. Andrea, Nicky Sleath and Jo Jardine work closely with Angus Wighlman in terms of our Youth Work prowarnme and associated activities. Chlld Protectlon Pollcy The Church TfUStee5 operate a wrillen Child Protection Pollcy. Around 10 volunteer church members are, lo varying extents, involved in a range of participative activities with young persons frem infant to teenage years. All such helpers are subject to DBS checks via Thirtyoneighl, formerly Churchès Child Protection Advisory Service, Rlsk Assessrnent Kings Church operates its own Snternal safety policy and relevant procedures. Church Mlnistry The Church Elders and leaders promote the biblical Chrlstlan faith thrDuglJ a programmed series of events during the year. Slnce Ju5y Sunday Morning SeNlcés have been held al Sl. Herbert's School, Trinity Way, Keswick. Several Friendship groups meet regularly for prayer. Bible study, mutual support and racrealional aclivili8s. Bible teaching is woven into all church programmes. Grateful acknowledgements We èxpress sincere gratitude to all those local cltlzens and friends who have contlnued to give financial and other aid and encouragement to the work of Kings Church over the past year. Especially. we thank all our ONn Church members who £0 generously devote Iheir tlme. monèy and effort to serve their Church and communily. The truslees report was approved by the Board of Trustees. MrA Wig Trustee Ima Ill"Iv
KING'S CHURCH KESWICK INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF KING'S CHURCH KESWICK I report to the trustees on my examination of the financial statements of King's Church Keswick (the charity) for the year ended 31 December 2023. Responsibilities and basis of report As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act). I report in respect of my examination of the charity's financial statements carried out under section 145 of the 2011 Act. In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 14515){bl of the 2011 Act. Independent examlner's statement Your attention is drawn to the fact that the charity has prepared financial statements in accordarKe with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 in preference to the Accounting and Reporting by Charities.. Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn. l understand that this has been done in order for financial statements to provide a true and fair view in accordan with Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015. I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect.. accounting records were not kept in respect of the charity as required by section 130 of the 2011 Act,. or Ihe financial statements do not accord with those records.. or the financial statements do not comply wilh the applicable requirements concerning the form and content of accounts set out in the Charities {Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a Irue and fair view which is not a matter considered as part of an independenl examination. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of Ihe financial statements to be reached. I k)OMeK)Q. Mr T Hlndmoor BFP FCA Gibbons Chartered Accountants Lakeland Office 2 Europe Way Cockermouth Cumbria CA13 ORJ Dated. 20 February 2024
KING'S CHURCH KESWICK STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2023 Unrestrlcted Restricted funds funds 2023 2023 Total Unrestricted Restricted funds funds 2022 2022 Total 2023 2022 Notes Income from: Donations and legacies Other Irading activities Investments 66,042 66,042 48,589 300 1,116 48,889 1,116 130 130 Total Income 66,172 66,172 48,604 1,416 50,020 Charitable activities 51.393 16 51,409 57,959 350 58,309 Net Incomel(exp8nditure) 14.779 {161 14,763 19,355) 1,066 {8,289} Transfers between funds 125} 25 Net movement In funds 14,754 14,783 19,355} 1,06 18,289) Reconclllatlon of funds: Fund balances at 1 January 2023 19,130 4,707 23.837 28,485 3,641 32,126 Fund balances at 31 December 2023 33,884 4,716 38,600 19,130 4,707 23,837 The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
KING'S CHURCH KESWICK BALANCE SHEET ASAT 31 DECEMBER 2023 2023 2022 Notès Flxed assets Tangible assets 12 1.224 1,459 Current assèts Debtors Cash at bank and in hand 13 5,568 34,052 4,971 19,781 39,620 24.752 Creditors: amounts falllng due wlthin one year 14 2,244 2,374 Net current assets 37,376 22,378 Total as8•ts less current liabSlltles 38,600 23,837 The funds of th8 charlty Restricted income funds Unrestrict8d funds 15 4,716 33,684 4,707 19,130 38,600 23,837 The finencl81 slalements were approved by the trustees on ... 111,Ivy Mr N Lo¢kwood Trustee
KING'S CHURCH KESWICK NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Accountlng pollcles Charity Information King's Church Keswick is a Registered Charity operating within the terms of its Constitution (first approved by the Charity Commission in 20041 and updaled and approved again in 2007. Its finance and governance are independently discharged by ils Trustees and Elders. Kings Church is affiliated to the New Frontiers Group of Churches {Christ Central) who supply guidance and support as requested. 1.1 Accounting convention The financial statements have been prepared in accordance with the charity's Igoverning documentl, the Charities Act 2011. FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" {"FRS 102,1 and the Charities SORP "Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102)" (effective 1 January 2019). The charity is a Public Benefit Entity as defined by FRS 102. The charity has taken advantage of the provisions in the SORP for charities not to prepare a statent of Cash Flows. The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn. The financial statements are prepared in sterling. which is the functional currency of the charity. Monetary amounts in these financial stalements are rounded to the nearest £. The financial statements have been prepared under the historical cost convention, Imodified lo include the revalualion of freehold properties and to include investment properties and certain financial instruments at fair valuel. The principal accounting policies adopted are set out below. 1.2 Golng Concern Al the time of approving the financial statements, the trustees have a reasonable expectation that the charily has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue lo adopt the going concern basis of accounting in preparing the financial statemenls. 1.3 Charltable funds Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives. Restricted funds are subject to specific conditions by donors or grantors as lo how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements. Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity, 1.4 Income Income is recognised when the charity Is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received. Cash donations are recogni5ed on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under GiftAid or deeds of covenant is recognised at the time of the donation.
KING'S CHURCH KESWICK NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Accountlng policies (Contlnued) Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as contingent asset, 1.5 Expenditure Expenditure is recognised On there is a legal or construclive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of dIrt costs and shared cosls, including support Costs involved in undertaking each activity. Direct costs attributable lo a single activity are allocated directly to that activily. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset's use. 1.6 Tanglble flxed assets Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. Depreciation is recognised $0 as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases.. Equipment 15 % Reducing balance basis The gain or loss arising on the disposal of an asset is determined as the difference belween the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities. 1.7 Impairment of flxed assets Al each reporting end date, the charity reviews the carrying amounts of its langible assets to determine whether there is any indication Ihat those assets have suffered an impairment loss If any such indication exists, the recoverable amount of the asset is estimated in order lo determine the extent of the impairment loss (if any). 1.8 Cash and cash equlvalents Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. 1.9 Flnanclal Instruments The charity has elected lo apply the provisions of Section 11 'Basic Financial Instruments, and Section 12 'Other Financial Instruments Issues. of FRS 102 to all of its financial instruments. Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements. when there is a legally enforceable right to set off the recognised amounts and there is an intention lo settle on a net basis or to realise the asset and settle the liability simultaneously.
KING'S CHURCH KESWICK NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Accounting pollcles (Continued) Basic financial assets Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured al the present value of the fulure receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised, Basic financial liabilities Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt inslrument is measured at the present valu8 of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised Debt instruments are subsequently carried at amortised cost. using the effective interest rate method Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If nol, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. Derecognition of financlal Ilabllltles Financial liabilities are derecognised when the charity's contractual obligations expire or are discharged or cancelled. 1.10 Employee beneflts The cost of any unused holiday entillement is recognised in the period in which the employee's services are received. Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide lerminalion benefits. 1.11 Retirement benefits Payments to defined contribution retirement benefit schemes are charged as an expense as Ihey fall due. Crltlcal accountlng estlmates and Judgements In the application of the charity's accounting policies, the trustees are required to make judgements, estimates and assumptions about Ihe carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered lo be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects (lY that period, or in the period of the revision and future periods where the revision affects both currenl and future periods.
KING'S CHURCH KESWICK NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Donations and legacies Unrestricted Unrestricted Restricted funds funds funds Totsl 2023 2022 2022 2022 Donations from individuals Regular giving and capital donations Gift aid reclaimed Donations from trusts and other organisations 10,272 36,577 9,193 10,000 8,141 32,311 8,137 300 8,441 32,311 8.137 66,042 48,589 300 48,889 Income from other trading actlvltles Restrlcted funds 2023 Restrlcted funds 2022 Pavilion and youth work 1,116 Investments Unrestrlcted Unrestricted funds funds 2023 2022 Interest receivable on bank deposits 130 15
KING'S CHURCH KESWICK NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Expenditure on charitable actlvltles Unrestrlcted Restricted 2023 2023 Total Unrestricted Restricted 2023 2022 2022 Total 2022 Dlrect costs Staff costs Depreciation and impairment Advertising Accountancy Rent Insurance Pavillion Youth Work Telephone & Fax Computer software & Maintenance costs Printing, Postage & stationary Sundry expenses Events & Conferences 38,965 38,985 44,287 44,287 219 125 2,060 3,470 762 314 20 16 235 125 2,060 3,470 762 314 20 241 125 1,916 2,439 577 566 17 258 125 1,916 2,439 577 566 15 89 89 856 856 761 519 761 519 834 75 834 75 47,304 16 47,320 51,933 17 51.950 Grant funding of activities (see note 7) 4,089 4,089 6,026 325 6,351 Share of support and governance costs (see note 8) Governance 51.393 16 51,409 57,959 350 58,309 Analysis by fund Unrestricted funds Restricted funds 51,393 51,393 16 57,959 57,959 350 16 350 51,393 16 51,409 57,959 350 58.309 10-
KING'S CHURCH KESWICK NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Grants payable Unrestricted Unrestrlcted Restricted 2023 2022 2023 Total 2022 Grants to institutions.. Christ Central New Life Church Modehi Lions Christmas Hamper Collection Stewardship London re food bank Ukraine Appeal Foodshare Other 2,400 1,200 2,400 1,200 2,400 1,200 325 269 157 2,000 325 269 157 2,000 28 461 4,089 6,026 325 6,351 Support costs Unrestricted Restrlcted 2023 Unrestricted Restricted 2022 Bank charges Analysed beeen Charitable activities Trustees One of the Iruslees received the following remuneration or benefits from the charity during the year. Mr A Wlghtman Mr A Wightman received remuneration of £35,860 12022.. £40,651) and reimbursed expenses of £0 (2022.. £0). 10 Employees The average monthly number of employees during the year was.. 2023 Number 2022 Number 11
KING'S CHURCH KESWICK NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 10 Employees {Continued) Employment costs 2023 2022 Wages and salaries Other pension costs 38,076 889 43,276 1,011 38,965 44,287 There were no employees whose annual remuneration was more than £60,000. 11 Taxatlon The charity is exempt from taxation on its activities because all its income is applied for charitable purposes. 12 Tanglble flxed assets Lea$ohold land and buildings EquSpmont Total Cost At 1 January 2023 31,042 9,477 40,519 At 31 December 2023 31,042 9,477 40,519 Depreciatlon and impairment At 1 January 2023 Depreciation charged in the year 31,042 8.018 235 39,060 235 At 31 December 2023 31,042 8.253 39,295 Carrylng amount At 310ecember 2023 1,224 1,224 At 31 December 2022 1.459 1,459 13 Debtors 2023 2022 Amounts falllng due wlthin one year: Other debtors Prepayments and accrued income 4,855 713 4,130 841 5,568 4,971 12-
KING'S CHURCH KESWICK NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 14 Creditors: amounts falling due within one year 2023 2022 Other taxation and social security Accruals and deferred income 704 1,540 958 1,416 2,244 2,374 15 Restricted funds The restricted funds of the charity comprise the unexpended balances of donalions and grants held on trust subject lo specific condilions by donors as to how they may be used. At 1 January 2023 Incomlng resources Resources expended Transfers At31 Decembèr 2023 Kids Ministry Youth Aclivilies KCK Modeihi 314 4,418 125} 116) 298 4.418 25 4,707 {16) 25 4,716 Prevlous year: At 1 January 2022 Incomlng resources Resources expended Transfors At31 December 2022 Kids Ministry Youth Activities KCK Modeihi 314 3,327 {171 {81 (325) 297 4,435 (25) 1,116 300 3,641 1,416 (350) 4,707 16 Unrestricted funds The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as lo how they may be used. These include designated funds which have been set aside out of unreslricled funds by the trustees for specific purposes. At 1 January 2023 Incoming resources Resources expended Transfers At31 December 2023 General funds 19,130 66.172 (51,3931 {25) 33.884 13-
KING'S CHURCH KESWICK NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 16 Unrestricted funds {Continuedl Previous year: At 1 January 2022 Incoming resources Resources expended Transfers At31 December 2022 General funds 28,485 48,604 (57,959) 19,130 17 Analysls of net assets between funds Unrestrlcted funds 2023 Restrlcted funds 2023 Total 2023 Fund balances at 31 December 2023 are represented by: Tangible assets Current assetsl(liabilities) 1,144 32,740 80 4.636 1,224 37,376 33,884 4,716 38,600 Unrestrlcted funds 2022 Restrlcted funds 2022 Total 2022 Fund balances at 31 December 2022 are represented by: Tangible assets Current assetsllliabilities) 1,363 17,767 96 4,611 1,459 22,378 19,130 4,707 23,837 14