## |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| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## |2|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| |4|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|to the number of|transactions|transactions|each activity has.|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| |5|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| ## |15|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| |15|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|ofthese individuals|while T.Beasley was a Trustee:|Wages and|Health|Total|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||||| ## ##