2021-10-31-accounts - Kings Church International

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Contents	page
TRUSTEES' REPORT	1-8
AUDITORS' REPORT	9-11
ACCOUNTS
Statement of Financial Activities	12
Balance Sheet	13
Statement ofCash Flows	14
Notes to the Accounts	15-28

Objectives for 2021			Achieved
Launch a new congregation	in London	with its	KCI London was launched in Westminster towards the end of2020 and
own services and small groups.			has become well established with a committed congregation ofabout 50
			each Sunday, together with mid-week groups beginning during the year.
Expand the early years dasses at The		King's	Both the Pre-school and Reception classes expanded. The total number of
House School, Windsor to	provide the	foundation	early years pupils grew from 9at the end of2020 to 14at the end of2021
for a growing school in the	years to come.		providing a foundation for growing school in the years to come.

Appointment ofTrustees	Trustees may be appointed by a formal memorandum ofthe spiritual leaders ofthe church. Trustees serve for a period oftwo years and may offer themselves for reappointment. Trustees must be members ofthe
	church and accept the doctrines set out in the fourth schedule ofthe Trust Deed.
Trustee	All new trustees attend training which covers the responsibilities oftrustees as well as the objects,
Training	governing document and governance structure ofthe charity. They are also required to read the Charity
	Commission guidance 'The Essential Trustee' and encouraged to read their other publications.
Decision-	The strategic decisions ofthe charity are taken by the Board ofTrustees. The Board ofTrustees appoints
making	committees, comprising both trustees and people with relevant expertise, to consider specific subjects and
	make recommendations to the Board.
Remuneration	The Remuneration Committee bench-marks remuneration packages for all staff and advises the trustees
	on remuneration decisions. The members ofthe Remuneration Committee are neither employees nor
	related to employees.
	The key management personnel ofthe charity comprise its Board ofTrustees and senior managers.
	Trustees give their time voluntarily and no recompense is made for their role as trustees. Details oftrustee
	expenses and other transactions with trustees are disclosed in note 16to the accounts.
	Remuneration for senior managers is reviewed annually by the Remuneration Committee. Its
	recommendations are submitted to the Trustee Board who approve the remuneration packages. When
	setting remuneration for senior managers consideration is given to their experience, expertise, skills,
	competencies, impact, influence, scope and management responsibility. Remuneration decisions take due
	note ofcomparable national benchmarks and aim to be fair, reasonable and affordable; and to recognise
	the value ofeach individual's contribution to the charity's performance.
Risk	The charity maintains a risk register ranking risks according to likelihood and severity; and operates a risk
Management	management policy for reducing and controlling risks. The principle risks and uncertainties itfaces are:
	COVID-19
	The COVID-19 pandemic posed new challenges including the risk we might not be able to continue key
	activities, and potential risks to income and to the health ofour staff and beneficiaries. Toaddress the risk
	to staff health, personnel worked from home while the virus threat was significant. Premises management
	is the only regular task that necessitates a physical on-site presence and safety measures were in place at
	all times for the small number ofstaff involved.
	Many ofour activities, such as church services, mid-week groups and The King's House School, Windsor,
	had previously always involved physical proximity between many people. To reduce the risk ofvirus
	transmission all church meetings (including services, prayer meetings and mid-week groups) transitioned
	to online video from March 2020 until August 2021 (when virus transmission and severity were lower). The
	numbers participating in these activities continued to grow despite the transition to an online format. The
	King's House School, Windsor's curriculum strategy already involved a high level ofself-study, and so it
	was able to transition swiftly and successfully to home-based education with teachers providing remote
	support. AII our regular activities were therefore able to operate at their normal level during COVID-19
	restrictions. The only significant events cancelled due to the pandemic were our annual conferences.
	These were cancelled promptly enough to avoid any significant costs.
	COVID-19 impacted the finances of many individuals in society and therefore heightened financial risks to
	our charity, as we rely heavily on voluntary income. To manage this risk, electronic communication with
	donors was increased in particular explaining how to transition to online payment. The measures below for
	voluntary donations were also adhered to stringently. Moreover online meetings are cheaper to run than
	physical meetings so cost savings were made which had been a significant mitigating factor to the financial
	risk posed by the pandemic.
	A reliance on voluntary donations
	Voluntary giving accounts for over 75%ofthe charity's income and would be affected by a change in the
	number of, or financial circumstances of, donors. This risk is mitigated by the very stable and committed

			Unrestricted	Restricted	Total	2020
		note	funds f.	funds f	funds R	E
Income and endowments	from:
Donations and legacies			943,969	185,718	1,129,687	1,116,556
Charitable activities
Local church			34,457		34,457	42,942
Education in the UK			159,643		159,643	f55,634
Partnerships 8conferences						51
Other trading activities
Fundraising events for The King's House School				425	425	f 7'I
Investments				323	357	790
Other			29,697		29,697	87,692
Total income			1,167,800	186,466	1,354,266	1,403,836
Expenditure on:
Raising funds
Raising donations and legacies			42
Investment management			258		258
Charitable activities
Local church			628,923	18,291	647,214	714,819
Education in the UK			225,973	44,265	270,238	316,968
Partnerships 8 conferences			150,206	83,335	233,541	2f5,535
Total expenditure		4	1,005,402	145,891	1,151,293	f,247,572
Net income I-expenditure			162,398	40,575	202,973	f56,264
Transfers between funds		14,15	- 680	680
Net movement in funds		15	161,718	41,255	202,973	156,264
Reconciliation offunds
Total funds brought forward			2,498,575	937,255	3,435,830	3,279,566
Total funds carried forward		15	2,660,293	978,510	3,638,803	3,435,830

			Unrestricted	Restricted	Total	2020
		note	funds F	funds E	funds R
Tangible assets		8	3,154,480		3,154,480	3,142,970
Investments				226,302	226,302	173,070
Total fixed assets			3,154,480	226,302	3,380,782	3,316,040
Stocks			7,722		7,722	5,594
Debtors		12	31,798	2,244	34,042	70,424
Cash			456,870	69,964	526,834	376,801
Total current assets			496,390	72,208	568,598	452,819
Creditors: due within	one year	13	- 115,837		- 115,837	- 123,341
Net current assets			380,553	72,208	452,761	329,478
Creditors: due after one year		13	- 194,740		- 194,740	- 209,688
Inter fund loan		14	-680,000	680,000
TOTAL NET ASSETS			2,660,293	978,510	3,638,803	3,435,830
The funds ofthe charity:
Property Fund		15			932,312	881.054
Other restricted funds		15			46,198	56,201
Total restricted income funds		15			978,510	937,255
General Fund		15			2,655,360	2,495,972
Other unrestricted funds		15			4,933	2,603
Total unrestricted	funds	15			2,660,293	2,498,575
TOTAL CHARITY FUNDS		15			3,638,803	3,435,830

					note	2021	2020
Cash flow from operating	activities					251,130	184,568
Cash flow from investing	activities
Investment interest received						357
Purchase oftangible fixed assets						- 28,572	—9,256
						- 28,215	—8,.466
Cash flow from financing	activities
Loan repayments						- 19,650	- 12,481
						- 19,650	- 12,481
Decrease / increase in cash		and cash	equivalents			203,265	163,621
Cash and cash equivalents brought forward						549,871	386,250
Cash and cash equivalents		carried forward				753,136	549,871
Reconciliation ofnet	-expenditure		/ income to cash	flow from operating	activities	2021 R	2020f
Net income /-expenditure						202,973	156,264
Depreciation						17,062	15,437
Interest expense						5,049	5,921
Investment income						- 357	- 790
Increase in stock						- 2,128	- 3,642
Decrease in debtors						36,382	4.173
Decrease /-increase in creditors						- 7,851	7.205
Cash flow from operating		activities				251,130	184,568
Analysis ofchanges	in net debt			note	2020 E	Cashflows E	2021 R
Investments held as cash				9	173,070	53,232	226,302
Cash included within current		assets			376,801	150,033	526,834
Cash and cash equivalents					549,871	203,265	753,136
Debt due within one year				13	- 14,602	- 347	- 14,949
Debt due after one year					- 209,688	14,948	- 194,740
Borrowings					- 224,290	14,601	- 209,689
Net debt					325,581	217,866	543,447

Income from	donations	and	legacies	legacies
					Unrestricted	Restricted	Total	2020
					funds 8	funds F	funds F.
Donations from	individuals				943,969	165,268	1,109,237	1,078,242
Grants received
from King's Church International			Robertson					5,000
from churches	towards our	G12	UK	Fund		2,400	2,400	4,111
from churches	towards our	Colombia		Fund		18,050	18,050	19,350
grants received	for other purposes							9,853
Total grants received						20,450	20,450	38,314
					943,969	185,718	1,129,687	1,116.556

Other Inco	me
			Unrestricted	Restricted	Total	2020
			funds F	funds F	funds R	E
Banking Switch Scheme			16,875		16,875
Coronavirus	Job Retention	Scheme	12,822		12,822	87,692
Total			29,697		29,697	87,692

Expenditure
Expenditure in	2021			Staff	Grant	Property	Other	Support costs	2021
				costs	funding	&venues	costs	allocated	Total
				note 6	note 7			note 5
Raising funds
Raising donations			and legacies				42		42
Investment	management			258					258
Charitable activities
Local church				360,005	6,384	50,104	90,683	140,038	647,214
Education in		the UK		159,777	400	27,298	31,495	51,268	270,238
Partnerships		&conferences		36,668	146,104		28,738	22,031	233,541
Support costs				139,405		4,363	69,569	- 213,337
				696,113	152,888	81,765	220,527		1,151,293
Expenditure in		2020		Staff	Grant	Property	Other	Support costs	2020
				costs	funding	8 venues	costs	allocated	Total
Raising funds
Raising donations			and legacies
Investment	management			241
Charitable activities
Local church				440,597	2,302	73,067	76,373	122,480	714,819
Education in		the UK		189,740	4,656	21,812	40,271	60,489	316,968
Partnerships		&conferences		43,168	103,449		37,304	31.614	215,535
Support costs				129,820		12,573	72,190
				803,566	110,407	107,452	226,147		1,247,572

Support costs	are allocated to activities	are allocated to activities	in proportion	transactions	transactions	each activity has.
Staff benefits	(note 6)are now categorised as 'Staff costs' (previously			included	within	'Other costs').
The following	figures are included	in the	totals above:
Amounts paid	to the auditors						2021 R	2020f
Audit fees							12,800	12,300
Non-audit services							390	738
Total included	within Governance	costs	below				13,190	13,038

Support costs	Support costs
				2021 R	2020f
Support staff				129,360	120.432
Governance	including		staff	29,672	30,575
Office equipment		and	IT	30,905	31,185
Loan interest				5,049	5,921
Office property costs				4,363	'/2, 573
Insurance				3,697	3.476
Telephone				3,798	3,222
Stationery &	office supplies			1,386	2,519
Legal and professional				3,272	3,503
Other				1,835	1,177
				213,337	214,583

Staff costs
									2021 R	2020 E
Wages and salaries									571,798	675,007
Social security costs									55,125	62.558
Pension contributions									53,776	48,230
Other employee benefits									15,414	17,771
									696,113	803,.566
Termination costs included	above amounted				tof18,905(2020:f25,000).
The termination costs were	all	paid	in the year and none accrued at the year-end					(2020: f25,000was included	in accruals).
									2021	2020
Average number ofstaff employed			during the		year				23	26
Average number ofstaff calculated			as "full-time ertuivalents"
Local church									4.5
Education in the UK									5.5	7.1
Partnerships &conferences									0.4	0.5
Support staff									4.3	3.2
Number of "full-time equivalent"		staff							14.7
Staffwhose emoluments (including				benefits but excluding pension contributions)				exceeded f60,000	2021	2020
The number ofstaff with emoluments				in the range 290,001			- 8100,000
The number ofstaff with emoluments				in the range f70,001-f80,000
In 2020 these emoluments	included			thef25,000 termination			costs referred to above.
Employer pension contributions		for		these employees		were F10,791 (2020:f19,113).
									2021 R	2020 E
Remuneration ofkey management			personnel						329,463	426.536

Grants made
Grants made as part ofLocal Church activities	- toindividuals						2021 R	2020 L
Grants made from our Care Fund - note 15							4,864	2,302
Grants made from the Designated Care Fund - note 15							1,520
							6,384	2,302
Grants made as part ofour Education activities	- to individuals
Bursaries in cases offinancial need for attendance at The King's House				School, Windsor			350	4.173
Grants made from the pupils' fundraising activities							50	483
							400	4,656
Grants made as part ofPartnership activities -	to institutions
to Mision Carismatica Internacional ('MCI') in Colombia							33,747	24,950
Grants to MCI were funded in part by grants	received	from	other churches		(note 2)
to Vision for Israel (for the Joseph Storehouse	humanitarian		aid centre for all		nationalities	in Israel)	17,100	2,938
to Association Evangelique d'Appui au Developpement		(for development		&refugee work		in Burkina Faso)	15,003	15.003
to Youth Outreach Ministry in Malawi, from our	"Turn the Tide" fund						10,200	8,400
to Holy Land Missions, Bethlehem							2,715	2.200
to King's Church International Robertson in South Africa							22,733	43,014
to the Barnabas Fund (for work with refugees)
to Wellspring (for development work in Uganda)							1,000
to Premier Christian Media							1,000
to the Evangelical Alliance							550	550
to other institutions							255
Grants made as part ofPartnership activities - to individuals
to individuals in need in South Africa							25,362
to individuals working in Christian ministry and	development		in Colombia				14,344	4,000
to individuals working in Christian ministry and	development		in Burkina Faso				2,000	2,000
Other grants to individuals							95	394
Total grants made as part of Partnership activities							146,104	103,449
							152,888	11'0,407

Tangible Fixe	d assets
		Freehold land	Fixtures, fittings,	Total
		and buildings	&equipment
Cost
at 1 November	2020	3,175,921	407,057	3,582,978
additions			28,572	28,572
disposals
at 31 October 2021		3,175,921	435,629	3,611,550
Depreciation
at 1 November	2020	43,368	396,640	440,008
charge for the year		8,394	8,668	17,062
disposals
at 31 October 2021		51,762	405,308	457,070
Net Book Value
at 31 October 2021		3,124,159	30,321	3,154,480
at 1 November	2020	3,132,553	10,417	3,142,970

Investments
				2021 R	2020f
Cash held at 1 November				173,070	148,756
Disposals Iadditions to investment				52875	23 524
Interest earned				357	790
Cash held at 31 October				226,302	1?3.070
This investment comprises	part ofthe Property Fund: invested	in interest-earning	UK deposit accounts.

Debtors
		2021 R	2020E
Gift Aid receivable		17,238	24,812
Prepayments	and accrued income	10,710	29.318
Other debtors		6,094	16,294
		34,042	70,424
Creditors
amounts falling due within one year		2021 R	20208
Bankloans		14,949	14.602
Accruals and	deferred income	39,096	73.777
Taxes and social security		15,016	12,029
Other creditors		46,776	22.933
		115,837	123,341
amounts falling due atter one year
Bankloans		194,740	209,688

Fund movements
Fund movements	in 2021		Balance at	Incoming	Outgoing	Transfers	Balance at
			01 Nov 20	resources	resources		31 Oct 21
Restricted funds
Burkina Faso Fund				450	-450
Care Fund			3,038	1,826	- 4,864
Colombia Fund			7,713	28,381	-36,094
Conference Costs Fund				13,427	- 13,427
Conference Delegate		Fund	302				307
G12 UK Fund			- 27,984	2,479	-505		- 26,010
Joseph Storehouse	Fund
Kidz Klub Fund			50,975				50,975
Missions Fund				6,180	- 6,180
Property Fund			881,054	50,578		680	932,312
School Fund				44,215	-44,215
School Fundraising	for 3rd parties			50	-50
South Africa Blankets		Fund	675	646			1,321
South Africa Church		Fund	4,928	1,055	- 5,983
South Africa Kids Fund			10,034	12,459	-21,205		1,288
South Africa Relief	Fund			12,494	- 2,709		9,785
South Africa Property		Fund	5,550	163			5,713
Tear Fund Fund
Tum the Tide Fund			970	12,049	- 10,200		2,819
			937,255	186,466	- 145,891	680	978,510
Unrestricted funds
General Fund			2,495,972	1,167,800	- 921,313	- 87,099	2,655,360
Designated Bursary		Fund			- 350	4,200	3,850
Designated Care Fund			2,603		- 1,520		1,083
Designated Missions		Fund			- 82,219	82,219
			2,498,575	1,167,800	- 1,005,402	-680	2,660,293
Total funds			3,435,830	1,354,266	-1,151,293		3,638,803

Fund movements		(continuedj	(continuedj
Fund movements	in		2020	Balance at	Incoming	Outgoing	Transfers	Balance at
				02 Nov 19	resources	resources		31 Oct 20
Restricted funds				E	E
Bethlehem Fund				732
Burkina Faso Fund						- 425
Care Fund				2,639	2,701	- 2,302		3,038
Colombia Fund					27,363	- 19,650
Conference Delegate		Fund		302				302
G12 UK Fund				- 29,467	5,307	- 3,824		- 27,984
Joseph Storehouse	Fund				38	-38
Kidz Klub Fund				50,975				50,975
Missions Fund					12,644	- 12,644
Property Fund				858,223	20,593		2,238	881,054
School Capital Projects Fund
School Fund					42,464	- 42,464
School Fundraising	for		3rd parties	315	168	- 483
South Africa Blankets			Fund		7.801	—7,126		675
South Africa Church		Fund		4,506	422			4,928
South Africa Kids Fund				184	45,738	—35,888		10,034
South Africa Property		Fund		5,350	200			5,550
Turn the Tide Fund				4,753	4,617	- 8,400		970
				898,513	170,481	- 133,977	2.238	937,255
Unrestricted funds
General Fund				2,378,450	1.233,355	-1,030,894	—84,939	2,495,972
Designated Care Fund				2,603				2.603
Designated Missions		Fund				- 82,701	82,701
				2,381,053	1.233,355	-1.113,595	—2,238	2,498,575
Total funds				3,279,566	1.403,836	-1,247,572		3,435,830

Remuneration	Wages and	Health	2020
	saladies 8	insurance F
Terry Beasley			23,907
Margaret Beasley			18,395

by trustees	on beha	lf oft	he charit	y:
					2021 R	2020f.
Participation	in overseas		ministry	trips		1.540
Other travel	&training					305
Entertaining
						1.864
Number of	trustees	reimbursed