2020-12-31-accounts - The King's Way Church Centre

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

			Page
Trustccs' Rcport		1	to	2
Independent Examiner's	Rcport
Statement ofFinancial	Activities
Statcmcnt ofFinancial	Position
Notes to thc Financial Statements		6	to	14
Detailed Statement ofFinancial Activities		15	to	16

							31.12.20	31.12.19
					Unrestricted	Restricted	Total	Total
					fund	funds	funds	funds
				Notes
INCOME	AND ENDOWMENTS		FROM
Donations	and legacies				118,902	88,410	207412	127,600
Other trading activities					419		419	5,977
lnvestinent	incoinc				14		21	116
Total					119)335	$8,417	207,752	133,693
EXPENDITURE ON
Charitable	activities
Expenditure
					73,$08	86,763	160,571	115,319
Other					12)813		12,$13	]4,869
Total					86,621	86,763	173484	130,188
NET INCOME					32,714	1,654	34/68	3,505
Transfers	between funds			17	(5,417)	5,417
Net inovement in funds					27+97	7,071	34@68	3,505
RECONCILIATION		OF FUNDS
Total funds brought		forward			428457	2,262	430,$19	427,314
TOTAL FUNDS CARRIED FORWARD					455)854	9/33	465,187	430,819

					31.12.20	31.l2.19
			Unrestricted	Restricted	Total	Total
			fund	funds	funds	l'unds
		Notes
FIXF.D ASSETS
Tangible assets			752,401		752,401	756,339
CURRFNT ASSETS
Debtors		ll	4,249		4,249	3,326
Cash at bank		l2	36,337	9,333	45,670	29,370
			40,586	9,333	49,919	32,696
CREDITORS
Amounts falling due within	one year	13	(7,068)		(7,068)	(7,068)
NET CURRENT ASSETS			33,518	9/33	42,851	25,628
TOTAL ASSETS LESSCURRENT
LIABILITIES			785,919	9,333	795/52	781,967
CREDITORS
Amounts falling duc after more than one year		14	(330,065)		(330,065)	(351,148)
NET ASSETS			455,854	9,333	465,187	430,8l9
FUNDS
Unrestricted funds:
General fund					455,854	428,557
Rcstricted funds:
Building fund					671
Food bank					4,136	2,262
Children and youth					2,025
New Horizons					305
Nominated Funds					2,196
					9@33	2,262
TOTAL FUNDS					465,187	430,819

						31.12.20	31.12.19
				Unrestricted	Restricted	Total	Total
				funds	funds	funds	funds
	Grants				39,169	39,169
	Planned giving			64,649		64,649	54,207
	Offerings			22,756		22,756	45,310
	Gift aid tax receipts			17,640		17,640	14,669
	Other giAs and donations			13,857	49,241	63,09$	13,414
				11$,902	88,410	207,312	127,600
	Grants received,		included	in the above, are as follows:
						31.12.20	31.12.19
	Other grants					39%169
3.	OTHER TRADING ACTIVITIES
						31.12.20	31.12.19
				Unrestricted	Restricted	Total	Total
				funds	funds	funds	funds
							f
	Other sundry	income		277		277	4,300
	Room hire			142		142	1,677
				419		419	5,977
4.	INVESTMENT		INCOME
						31.12.20	31.12.19
				Unrestricted	Restricted	Total	Total
				funds	funds	funds	funds
	Deposit account		interest	14	7	21	116

				31.12.17	31.12.16
		Unrestricted	Restricted	Total	Total
		funds	funds	funds	funds
		f	f	f	f
Wages		48,694		48,694	49,404
Rates and water		420		420	242
Insurance		2,624		2,624	2,102
Light and heat		5,981		5,981	5,985
Telephone		1,306		1,306	1,479
Postage and stationery		2,931		2,931	1,571
Fixed running	costs	3,756		3,756	3,443
Repairs and maintenance		3,507		3,507	6,843
Pastoral expenses		6,035		6,035	7,464
Catering and	cleaning	4,243		4,243	5,430
Health and safety		6,147		6,147	4,741
Small gmups		114		114	183
Worship		325		325	767
Children and	youth	5,970		5,970	6,999
Community		3,182	1,331	4,513	5,518
Counselling					610
Overseas missions		7,574		7,574	9,442
Independent	examiners fcc	760		760	732
		103,569	1,331	104,900	112,955
OTHER
				31.12.20	31.12,19
		Unrestricted	Restricted	Total	Total
		funds	funds	funds	funds
		f	f		f
Interest payable and similar charges		12,813		12,813	14,869

		for	the Yea	r Ended 31 Dcccmbcr 2020
8.	STAFFCOSTS
					31.12.20	31.12.19
	Wages and salaries				35,504	55,451
					35,504	55,451
	The avcragc monthly number ofcmployecs			during the year was as follows:
					31.12.20	31.12.19
	Administration				3	5
	No employees received	emoluments	in excess off60,000.
9.	COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
				Unrestricted	Restricted	Total
				fund	funds	funds
	INCOME AND ENDOWMENTS		FROM
	Donations and legacies			114,186	13,414	127,600
	Other trading activities			5,977		5,977
	Investment income			116		116
	Total			120,279	13,414	133,693
	EXPENDITURE ON
	Charitable activities
	Expenditure
				97,557	17,762	115,319
	Other			14,869		14,869
	Total			112,426	17,762	130,188
	NET INCOM E/(EXPENDITURE)			7,853	(4,348)	3,505
	Transfers between funds			(6,565)	6,565
	Net movcmcnt in funds			1/88	2,217	3,505
	RECONCILIATION	OF FUNDS
	Total funds brought forward			427,269	45	427,314
	TOTAL FUNDS CARRIED FORWARD			428,557	2,262	430,819

10.	TANGIBLE FIXEDASSETS
				Fixtures
			Frcchold	and
			property	fittings	Totals
	COST
	At 1 January 2020 and 31 December 2020		736,647	19,692	756439
	DEPRECIATION
	Charge for year			3,938	3,938
	NET BOOK VALUE
	At 31 December 2020		736,647	15,754	752,401
	At 31 December 2019		736,647	19,692	756,339
11.	DEBTORS:AMOUNTS FALLING DUE	WITHIN ONE	YEAR
				31.12.20	31.12.19
	Gift aid tax receivable			4P,49	3,326
12.	CASH AT BANK
		General	Building		Children
		fund	fund	Food bank	and youth
	Bank current account	17,893	671	4,]36	2,025
	Bank deposit account	18,444
	Total	36,337	671	4,136	2,025
				31.12.20	31.12.19
		Ncw	Nominated	Total	Total
		Horimns	Funds	funds	funds
					f
	Bank current account	305	2,196	27,226	8,680
	Bank deposit account			18,444	20,690
	Total	305	2,196	45,670	29,370

13.	CREDITORS: AMOUNTS	CREDITORS: AMOUNTS	FALLING	DUE WITHIN ONE YEAR
					31.12.20	31.12.19
					f
	Bank loans	and overdrafts (see note 15)			6@88	6,288
	Accrued expenses				7$0	780
					7,068	7,068
14.	CREDITORS: AMOUNTS		FALLING	DUE AFTER MORE THAN ONE	YEAR
					31.12.20	31.12.19
						f,
	Bank loans	(sce note 15)			330,065	337,292
	Other loans	(see note 15)				13,856
					330,065	35],148
15.	LOANS
	An analysis	ofthe maturity ofloans is given below:
					31.12.20	31.12.19
	Amounts falling duc within onc year on demand:
	Bank loans				6/88	6,288
	Amounts falling between one		and two years:
	Bank loans	- 1-2years				6,288
	Amounts falling due between		two and five years:
	Bank loans	- 2-5 years			1$,864	18,864
	Amounts falling due in morc than five years:
	Repayable	by instalments:
	Bank loans	more 5 yr by instal			304,913	312,140
	Other loans	more Syrs instal				13,856
					304,913	325,996
16.	SECURED DEBTS
	The following secured debts are included			within creditors:
					31.12.20	31.12.19
	Bank loans				336453	343,580
	The bank loan from Kingdom		Bank is secured over the Freehold Property.

MOVEMEN	T IN FUNDS
			Net	Transfers
			movement	between	At
		At I.I.20	in funds	funds	3I.12.20
			f
Unrcstrictcd	funds
General fund		42$,557	32,714	(5,417)	455,854
Rcstrictcd funds
Building fund			(2,569)	3P,40	671
Food bank		2,262	1,874		4,136
Community			(712)	712
Children and	youth		560	1,465	2,025
New Horizons			305		305
Nominated Funds			2,196		2,196
		2,262	1,654	5,417	9/33
TOTAL FUNDS		430,819	34+68		465,187
Net movement	in funds, included	in the above are as follows:
			Incoming	Resources	Movement
			resources	expended	in funds
Unrestricted	funds
General fund			119/35	(86,621)	32,714
Rcstrictcd funds
Building fund			3$,737	(41406)	(2,569)
Food bank			5,142	(3/68)	1,874
Community				(712)	(712)
Children and	youth		2,189	(1,629)	560
New Horizons			305		305
Nominated Funds			42,044	(39,848)	2,196
			8$,417	(86,763)	1,654
TOTAL FUNDS			207,752	(173484)	34/68

				Nct	Transfers
				movement	betwccn	At
			At 1.1.19	in funds	funds	31.12.19
				f
Unrcstrictcd	funds
General fund			427,269	7,853	(6,565)	428,557
Rcstrictcd funds
Building 1'und				1,060	(1,060)
Food bank				2,025	237	2,262
Conununity				(2,312)	2,312
Children and	youth		45	(5,121)	5,076
			45	(4,348)	6,565	2,262
TOTAL FUNDS			427,314	3,505		430,819
Comparative	nct movement	in funds, included	in the above are as follows:
				incoming	Resources	Movement
				resources f	expended	in funds
Unrcstrictcd	funds
Gcncral fund				120,279	(112,426)	7,853
Restricted funds
Building fund				4,990	(3,930)	1,060
Food bank				3,492	(1,467)	2,025
Community				],288	(3,600)	(2,312)
Children and	youth			3,644	(8,765)	(5,]2])
				13,4]4	(17,762)	(4,348)
TOTAL FUNDS				133,693	(130,188)	3,505

			Dctailcd Statement ofFinancial Activities	Dctailcd Statement ofFinancial Activities
			for thc Year Ended 31Dcccmber 2020
					31.12.20	31.12.19
			Unrestricted	Restricted	Total	Total
			funds	funds	funds	funds
			f.
INCOME AND	ENDOWMF. NTS
Donations and legacies
Grants				39,169	39,169
Planned giving			64,649		64,649	54,207
Offerings			22,756		22,756	45,310
Gift aid tax receipts			17,640		17,640	14,669
Other gii1s and donations			13,857	49,241	63,098	13,414
			118,902	88,410	207/12	127,600
Other trading activities
Other sundry income			277		277	4,300
Room hire			142		142	1,677
			419		419	5,977
Invcstmcnt income
Deposit account	interest		14		21	)16
Total incoming	rcsourccs		119/35	88,417	207,752	133,693
EXPENDITURE
Charitable activities
Wages			35/04		35/04	55,451
Rates and water			257		257	516
Insurance			2,116		2,116	2,414
Light and heat			6,045		6,045	7,837
Telephone			1,019		1,019	1,074
Postage and stationery						1,988
Fixed running costs			I/38		1@38	460
Repairs and maintenance			2)502	41/06	43,808	9,703
Pastoral expenses			3,687		3,687	5,609
Catering and cleaning			8,289		8,289	2,257
Health and safety			1,610		1,610	2,872
Small groups			29		29	115
Worship			652		652	952
Children k youth				1,629	1,629	8,765
Community				712	712	3,600
Food bank				3@68	3,268	1,467
Nominated fund	expenditure			39,848	39,848
Depreciation oftangible		fixed assets	3,938		3,938
Overseas missions			6,042		6,042	9,459
			73,028	86,763	159,791	114,539

			for	thc Year Ended 31Dcccmb	er 2020
						31.I2.20	31.12,19
				Unrestricted	Restricted	Total	Total
				funds	funds	funds	funds
Charitable	activities
Other
Bank loan interest				12,813		129813	14,$69
Support costs
Govcrnancc		costs
Independent		examiners	fee	7$0		780	780
Total resources		expended		86,621	86,763	173484	130,188
Nct income				32,714	1,654	34/68	3,505