Page |
|||
|---|---|---|---|
Trustees'Report |
1 |
to |
2 |
IndependentExaminer'sReport |
3 |
||
StatementofFinancialActivities |
4 |
||
StatementofFinancialPosition |
5 |
||
NotestotheFinancialStatements |
6 |
to |
13 |
DetailedStatementofFinancialActivities |
14 |
to |
15 |
31.12.22 |
31.12.21 |
||||
|---|---|---|---|---|---|
Unrestricted |
Restricted |
Total |
Total |
||
fund |
funds |
funds |
funds |
||
Notes |
£ |
£ |
£ |
£ |
|
INCOMEANDENDOWMENTSFROM |
|||||
Donationsandlegacies |
2 |
166,467 |
41,372 |
207,839 |
175,549 |
Othertradingactivities |
3 |
959 |
959 |
682 |
|
Investmentincome |
4 |
18 |
18 |
36 |
2 |
Total |
167,444 |
41,390 |
208,834 |
176,233 |
|
EXPENDITUREON |
|||||
Charitableactivities |
|||||
Expenditure |
|||||
156,411 |
32,390 |
188,801 |
155,906 |
||
Other |
5 |
17,119 |
17,119 |
12,129 |
|
Total |
173,530 |
32,390 |
205,920 |
168,035 |
|
NETINCOME/(EXPENDITURE) |
(6,086) |
9,000 |
2,914 |
8,198 |
|
RECONCILIATIONOFFUNDS |
|||||
Totalfundsbroughtforward |
455,123 |
18,262 |
473,385 |
465,187 |
|
TOTALFUNDSCARRIEDFORWARD |
449,037 |
27,262 |
476,299 |
473,385 |
31.12.22 |
31.12.21 |
||||
|---|---|---|---|---|---|
Unrestricted |
Restricted |
Total |
Total |
||
fund |
funds |
funds |
funds |
||
Notes |
£ |
£ |
£ |
£ |
|
FIXEDASSETS |
|||||
Tangibleassets |
9 |
746,729 |
746,729 |
749,249 |
|
CURRENTASSETS |
|||||
Debtors |
10 |
7,591 |
7,591 |
5,600 |
|
Cashatbank |
11 |
20,218 |
27,262 |
47,480 |
50,058 |
27,809 |
27,262 |
55,071 |
55,658 |
||
CREDITORS |
|||||
Amountsfallingduewithinoneyear |
12 |
(10,287) |
- |
(10,287) |
(10,247) |
NETCURRENTASSETS |
17,522 |
27,262 |
44,784 |
45,411 |
|
TOTALASSETSLESSCURRENT |
|||||
LIABILITIES |
764,251 |
27,262 |
791,513 |
794,660 |
|
CREDITORS |
|||||
Amountsfallingdueaftermorethanoneyear |
13 |
(315,214) |
- |
(315,214) |
(321,275) |
NETASSETS |
449,037 |
27,262 |
476,299 |
473,385 |
|
FUNDS |
16 |
||||
Unrestrictedfiinds: |
|||||
Generalflmd |
449,037 |
455,123 |
|||
Restrictedfiinds: |
|||||
Buildingfund |
9,400 |
2,553 |
|||
Foodbank |
5,225 |
1,665 |
|||
Tranquility |
10,741 |
8,829 |
|||
NewHorizons |
894 |
538 |
|||
NominatedFunds |
1,002 |
4,677 |
|||
27,262 |
18,262 |
||||
TOTALFUNDS |
476,299 |
473,385 |
Klwg5w•y W•mbown Notes t• the FIDttcll Ststemellts ftir the Year Elldtd 31 Detember 2022 ACCOUIYnNG POLICI&S BA5ts of pryrl#g th¢ fu¢11 sltemeAts The financial w¢ments of the cljarity. which is a public benefit eniiry under FRS 102. have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporitng by Charitie5: Statement of Recommended Practice applicable to chariti¢s weparing their aCcOts in 4¢¢ordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (¢ff#tive l January 2019),, Financial Reporttng Standard 102 Tr Financial Reporting Stsndard applicable in the UK Ryblic of Ireland, and the Charilies Act 2011. The financia] have be w4>gYed under the hi#orical cost convention. All income is recognised in the Sement of Financial Activitie5 onrx the charity has uJtiil&neni ¢0 the fimds. it is probable that the income will be received and the amount c b¢ Meas reliably. Expelldl¢wre Liabilities are recognised as expenditwe a5 %>on as ther¢ is a leg81 or Constive obligation committing the ¢harity to that eXpendtttk il 15 probable that a transfer of ¢conomi¢ benefits will be required in 5¢tt1¢rnent and the amount of the obligation can b¢ measured reliably. Expenditure is accounted for on an basi5 and ha5 been classified und¢r headings th&t 888re8ate ail CO related to the wory. Where costs cannot be directly tributed to p¥rticular Grants offered subject to CofKlition5 1¢h have Thx been met at the year date are noted as a commithieni not Tsn¥lble nxed ss¢ts Depreciation is FKOVId at the folknvin8 annual rate5 in orderto write off each ¥sset ovcT its estimated useful life. Freehold pror¢rty Fixtures and fittings . not PTovid¢d 21fA on reducing bal•nce No depreciation is provided on freehold property 4 in the opinion orth¢ truste¢5 there has been an increase in the value between the date of PLw¢hase aThl the bala¢ slKet dat¢ Taxatlon The ¢Ilty is exempt fmm tsx on its ¢haTitsble activiiie& Fund accounting Unrestricted fimds ¢an be used in XCordan with the charitsble objectives at the discretion ofthe ttIL4ees. Restricted funts can onty be wed for i)articular restricted within the objects of the charity. Restriciions arise when slfied by the donor or kn fimts are raised forparticular re5trirted pulposes. Don*ted t1$ These are only included in incoming resowces with an equivaknt arnount in resouw exputhj WIre the benefit to thE Chrity is reasonably 9)fiabl mell1t and n1. Contin1...
Kingsway Chureh wom1Mye Notes to the Fln#n¢lal Stai¢ments- ¢on¢inued for the Yt4r Ended 31 December 2022 DONATIONS AND LEGACIES 31.12.22 Total funds 31.12.21 Totsl fimds Unrestricted Restricted Gronts Planned giving OffingS Gift aid t&x receipts Other gifts and dOnlonS 19,91KI 19,900 11&142 1&135 2S344 31Jl8 21.368 97.294 20.985 22.225 13.677 116,142 15,135 25J44 9046 21.472 166,467 41J72 207.839 175,549 GranLS re¢eive4 included in the above, are as follows: 31.12.22 31.12.21 Other grdnts 19,91)0 21.368 OTHER TRADING ACTIVITIES 31.12.22 Total funds 31.12.21 Total Unrestriaed funds Restricted Other sundry income 959 959 682 INVLSTMENf INCOME 31.12.22 Total funds 31.12.21 Totsl fijnds Urwestri¢ied Restricted fi]nds Dwit account interest 18 18 36 OThER 31.12.22 Total ds 31.12.21 Total fun(ts Unrestricted funds Restrithed fidS Interest payable and similar tharges Support costs 16J99 820 1&299 820 12,129 17,119 17,119 12.129 Page 7 ¢ontinued...
Klngsway Chureh Wombourne Notes to the Flnatscial Sta¢ements- tontlnued for the Y¢ar Ended 31 December 2022 TRUSTEES, REMUNERATION AND BENEFITS No Trustee received remUneI0n for either 2021 or 2020 Trnstee8' expenses were no tsustee expenses paid for the year ended 31 Decnber 2022 nor for the year ended 31 December 2021. srAFF cosrs 31.12.22 31.12.21 WB8e5 and salaries 06,979 54,535 06,979 54,535 The average monthly number of ernployees during the yeor wos as follows: 31.1122 31.12.21 Administration No employe¢5 rtteived emoluments in excess of £60,000. COMPARATIVES FOR THE ATEmENT OF FINANCIAL ACTIVITIES Unrestricted fund Restricted nds Total nds INCOME AND ENDOWMENTS FROM Donations And le8Rcies 141,854 33.695 175,549 Cther trIng laivities Investmenl income 682 142.538 33,695 176.233 EXPENDITURE ON CbarltAbk a¢¢lvltle8 Expendi 122.766 33,140 155.906 12,129 12,129 Tot•1 134,895 33.140 168.035 NET INCOME TrAn5f¢rs between fumds 7,643 (8.374) 555 .374 8,198 Net mfjv¢nwmt In funth (731) 8,929 8.198 Page 8 continued...
Klngsway Chwrch wom¢ Notes to the Fin*Tr¢lal Ststements- tont1ttd for ¢h¢ Year Ended 31 Deeember 2022 COMPARATIVLS FOR THE STATEMENT OF FINANCIAL A1vITIEs- ¢ontlnued UnT¢stricied Restricted fimds Total RECONCILIATION OF FUNDS Totsl funds brought fonvard 455.854 9J33 465.187 TOTAL FUNDS CARRIED FORWARD 455.123 18.262 473J85 TANGIBLE FIXED ASSETS Fixtu aftd fittings Freehold prop¢rty Totals At l January 2022 And 31 Dxember 2022 731647 19,692 756J39 DEPRECIATION At l January 2022 Charge ftir year 7,090 1520 7,090 2,520 At 31 December 2022 9,610 9,610 BOOK VALUE At 31 December 2022 736,647 10,1)82 746,729 Ai 31 December 2021 736,647 12.602 749,249 io. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.12.22 31.12.21 Gift aid tax receivable 7,591 ii. CASH AT BANK General Building fimd Food bank Trnnquility Bank ¢urr¢nt accOt Bank deposit account ,754 18,464 9.400 5.225 10.741 Tothl 20218 5.225 10.741 31.12.22 Total 31.1221 Total fi]nd5 New Nominated Funds Pa8e 9 coniinued...
Khg5vy Ch#r¢h Wombtrwrn¢ Notss t• the FI181 StstemeDts- totstknvtd for the Yur End¢d 31 Dtt¢rnr 2022 ii. CASH AT &4NK- conlbAued 31.1222 Totsl 31.1221 Trf81 fund5 Nominated Brought forwwd 29.016 1&464 31.611 18.447 Bank deposit accou Total 894 47,480 50,058 12. CREDITORS: AMOUNTS FALUNG DUE wrrHIN ONE YEAR 31.12.22 31.12.21 Blk lo8ns and oveTthafts (see note 14) A¢¢rued expenses 7,$39 2,748 7.539 2,708 10387 10247 13. CREDITORS: Amouiyfs FALLING DUE AER MORE THAN ONE YEAR 31.12.22 31.12.21 Bank loans (see note 14) 315314 321,275 14. LOANS An anAlysb of the mthrity of Io•M is 81Tr belov. 31.12.22 31.12.21 Amounts fallin8 due within one ye on dem.. Bonk lowls 7.539 7539 Amounts filling betww one •nd S. Bank loaw- 1-2 years 739 7.539 Amounts falling due #Thl five yevs: Bank10gns- 2-5 yeats 22,617 22.617 AMOU fAllin8 due in more five years: Repayable by instalmeths: Bank loans more 5 yr by inx81 285,058 291.119 P48e 10 continugj...
Klww#y Wombollm Notes ¢0 the FU¢1•1 Sla¢ernents- coTrtlnued for the Yr ENded 31 December 2022 SECURED DEFrs The ft*llowing sewed debts aT¢ Incl within creditors: 31.12.22 31.12.21 Bank loans 322,753 328.814 bank loan from Kingdom Bank 1$ seawed ovtr the Free1Id Propffj. MOVEMENf IN FUNDS Net Ai 31.12.22 At 1.122 Unrestrleted fundj GenerAI fund 45S12J (6J)86) 449,037 Rutrl¢t¢d Building fjjnd FLNXI bank TrqUirIty New Horizo Nominattrj Fu 6,847 3,560 1,912 356 (3.675) 9,4110 5,225 10.741 894 J.002 4,677 18362 27362 TOTAL FUNDS 473J85 2,914 476299 Net movement In in the above &8 ftill0. Incoming expended in fimd5 U•reJtrf¢ted General fimd 167 (173A30) (6,086) Restrkted funds Building fiu)d Food bank Tranquility 24197 S833 I002 350 (17JS0) (2273) {&090) 6,847 3,560 1,912 356 (3,675) Nomimted Fund5 (4677) 41 J90 (32J90) 9,OlXI TOTAL FUNDS 208034 (205.920) 2,914 continued...
KInY Chur¢h Wombourne Notes ¢0 the SlateTrents- conthnued for the Year EAded 31 Dettmi*r 2022 16. MOVEM IN FUNDS. contlnmd Comparntives for Move ID fg4d5 movement in fiuyls Ai 31.12.21 At 1.1.21 unrestrict fuads Gera1 fund 455.854 7.643 (8J74) 455.123 R&strfeted futhds Building fiu Food bank Community Trdnquilty New Horiz(Jns Nominated Funds 671 4.136 (4.981) (1471) (858) 151 233 1481 6,863 2.553 1.665 858 653 1025 305 1196 8,829 538 4.677 9J33 555 .374 18262 TOTAL FUNDS 465,187 8.198 473.385 Comparative net movement in in the above are as foll Incoming Resow¢es Movement expended in ffijnds Unrestrleted fuw15 Genernl fund 141538 (134.895) 7,643 Restrkted fwnds Buildin8 Fd bank C(Mnmunity Tranquility New Horizons Nominated FuThts 6270 92 (11251) (5.063) (858) (7,619) {132) (8217) (4.981) (2.471) (858) 6.151 233 2,481 13.770 365 10,698 33.695 (33.140) 555 176233 (168.035) 8,198 Page 12 continued...
Kinpway Ch*r¢h womb0pr¢ Notes ¢0 ¢he Flth8#tio1 St8¢eDKnts- eODt1ned for the Yur Ended 31 Deeejthr 211ll 17. REL4TED PARTY DISCLOSURLS i& ULTIMATE coNfROLLING PARTY The Crity is controlled by the ¢ru#e Page 13
Kingswy Churcb Wombtyurn¢ Detalled Slatemen¢ of FID4n¢lal A¢tSviiles for the Year EDded 31 December 2021 31.1222 Total fimds 31.12.21 Total funds Unrestrided fund5 Restricted fuThJs INCOME AND ENDoWMErrS DonatioS and Iw¢les Gr¥nts Planned giving Offerings Gift aid thx receipts Other gift5 and donations 19,900 19.900 116,142 15,135 25J44 31?18 21J68 97294 20.985 22.225 13.677 116.142 IS.135 25J44 9.846 21,472 106,467 41J72 207,839 175.549 Other tradlllg ctivitles OttKr suThJry income 959 959 682 Investnwttt incon tkwsit account interest 18 18 36 Total llleomlDg resourees 167,444 41J90 208034 176,233 EXPENDITURE Charil#ble aetlvttks Wages Rwes and water Insurance Light and he Telephone Fixed n]nntng costs Repa5 and maintenan Pastoral expenses Catering and cleaning Health and safety Small groups Worship Children & youth Cornmunity Food bxnk New horizons Nomin*ed fund expenditure Depreciation of tangible fixed assets Overseas missions 66,979 318 2A17 15J64 1,042 5,197 5,920 5,144 19,704 9J66 145 1,306 S983 1,239 6&979 318 &417 15J64 1,042 S197 23370 &144 19,704 9a66 145 IJ06 14,073 1239 2373 54535 423 2,191 6.464 943 9.641 24.861 5,943 9.891 4.326 17JSO 1,301 7.619 858 5.063 132 8.217 3.152 9.422 8.090 2273 4ffj77 4,677 2A20 13,767 2,520 13,767 156,411 32J90 18&801 155.126 This page does not form part of the sthtutory financial statements Page 14
Klttgsway Chllreh wom1mne Detalled Ststement ofFlnAnclal Actlvltl¢s ftsr the Year Ended 31 December 2022 31.12.22 Total 31.12.21 To¢al fiLd$ Unrestricted nds Restricted fund5 Ch8rh•bl¢ ¢¢fvltks Other Bank loan interest 16299 16399 12.129 Sypport costs Governnce eosts Independent examiners fee 820 Totsl resources expended 173,530 32Jg0 205,920 168.035 Net I¢0¢ 1fi086) 9,01)0 2,914 8,198 This page does noi forni part of the SthIOry financial stytements Page 15