REGI￿ERED CHARITY NUMBER: 1052518 Trustees, Report and UnAudited Flnan¢fal Stst¢ments for the Year Ended 31 December 2023 for Klngsway Chur¢h Wombourne Dalton Pardoe Limited Chartered Accountants 794 High Street Kingswinford West Midlands DY6 8BQ Kingsway Church Wombourne Contents of the Finanelal Statements for the Year Ended 31 December 2023 P&%e Tru5tees' Report I to 2 Independent Examiner's Report Statement of Flnanclal Activities Statement of Financial Posltlon Notes to the Financial Statements 6 to 13 Detailed Statement of Finaneial Aetivlties 14 to 15 Kingsway Church Wombourne Trusteesl Report for the Year Ended 31 December 2023 The trnstees present their report with the financial statements of the charity for the year ended 31 December 2023. The trustees have adopted the provisions of Accounting and Reporting by Charities: Ststem¢nt of Reconunended Prdctice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective l January 2019). OBJEcfivES AND AcfiviTIES Objectivu and aims The principal aclivity of the Church is: Living for Jesus. transforniing live% building community. ACHIEVEMEKf AND PERFORMANCE Charilable and Fundraising A¢tivitie5 We have had a great year as a church community, seeing growth in many areas of our church life. We continue to look after our church congregation whilst also supporting oul community in as many varied ways as possible. One of the big changes for us this year has been the building work done to develop our Coffee Lounge. We have used donations from our church m¢mbers as well as a grant to enable us to knock down the walls of our old kitchen and stordge room and develop an open plan coffee lounge and kitchen. We hav¢ fomied a team of volunte¢rs who help both on Sunday mornings and also throughout the w￿k to open up this space on Tuesday and Thursday morning5. We hav¢ seen a greal amount of p¢ople using the space. some of thern parents and grandparents from our toddler group5 that Still run twice a week bul also a chance for many of our church family and new people from the community to gather together and support each other over a cuppa. We have also introduced board gam¢s and crafts io allow people to join in with a fun actlvlty whilst they are with us. The foodbank and Uniforni Club continue to be in high demand as the cost of living continues to put strain on family finances. Our clubs continue through the week for all ages- toddler groups, kids clubs. youth gTOUP5 and lunch clubs for Ihe older demogrdphA¢! All the volunteers and staff *tho wn these work tirelessly to show excellence in all they do. We are grateful for the facilili¢s we have in our building and I(￿k forward to continuing our support to our community and church family in the years ahead. FINANCIAL REVIEW Overview The Statement of Financial Activities show an Incom¢ of £311.768 (£208.834 . 2022) and expenditure of £260.486 (£205,920 . 2022) resulting in a surplus for the year of £51282 ( £2.914 . 2022). Funds increased over the year from £476299 as at 31st December 2022 to £527,581 at the balance sheet date. repres¢ntsd by . Unrestricted funds Restricted funds £484,841 £42,740 STRUCTURE, COVERNANCE AND MANAGEMENT Governlng doeument The charity is controlled by its governing do¢umenL a deed of trust and constitutes an unin¢orporat¢d charity. REFERENCE AND ADMINISTRATIVE DETAIIS Registered Ch2rlty number 1052518 Page I King5way Church Womb0￿rne Trustees, Report for the Year Ended 31 December 2023 Prlnelpal address Kingsway Church High Street Wombourne Wut Midlands WV5 9DN Trustees J H Price (Pasior) P A Freeman (Elder) S T R¢vitt (Elder) Mrs J Eaglelon (Tr¢asurer) Mrs D Chamberlain (Associate Pastor) Independent Examiner Colin Dalton FCA Dalton Pardoe Limited Chartered Accountanls 794 High Street Kingswinford Wesl Midlands DY6 8BQ COING CONCERN I'he Trustees consider that the charity remains viable for Approved by order ofthe board of truslees on .............. . and signed on its behalf by: S T Revitt {Eld:r) - Trumee Page 2 Independent EIAmine￿s Report to the Trustees of Kingsway Chureb Wombourne Independent ¢xAminer's report to the trustees of Kingsway Church Wombourne I report io the charity trustees on my examination of the accounts of Kingsway Church Wombourne (the Trust) for the year ended 31 December 2023. Responsibilities and bxsls of report As the charity trU￿e¢S of the Trust you are responsible for the preparalion of the accounts in accordan¢e wilh the requirements of the Charities Act 2011 (the Act). I report in respect of my examination of ihe Tntses accounts CWTied out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under SeclioD 145(5)(b) of the ACL Independenl examinevs statement Since your charity's gross income exceeded £250.000 your examiner must be a member of a listed body. l ¢an confirni that l am qualified to undertake the examination because l am a member of the Instilute of Chartered Accountants in England and Wales, which is one of the lisied bodies. I have ¢ompleted my examination. I confinn that no material matters have come to my attention in connection with the examination giving me ¢ause to believe that in any material TespecL' accounting records were not kept in respect of the Trust as required by Section 130 of the Act: or the accounts do not accord with those re¢ords: or the accounts do not comply with the applicable requirements concerning th¢ forni and content of accowits set oirt in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered &8 part of an independent examination. I have no concerns and have come acTOSS no other matters in connection with the examination to ￿l¢b attention should be drawn in this report in order to enable a proper undw5tanding of the accounts lo be reached. Colin Dalton FCA The Institute of Charter¢d Accountants in England and Wales Dalton Pardoe Limited Chartered Accountants 794 High Street Kingswinford West Midland5 DY6 8BQ Date: .................... Page 3 King5Thay Church Wombourne Statement of FlnaDci81 Activities for the Y¢Ar Ended 31 December 2023 31.12.23 Total funds 31.12.22 Total funds Unrestricted fund Restrici¢d funds Not 90 32,608 665 518 1,685 4,122 1,156 984 33,610 065 518 27262 15,478 42,740 TOTAL FUNDS 476299 51282 527J81 N¢t movement in funds. included in the above are as follow5- incoming Resources Movement resources expended in funds Unrestrieted funds Genernl fund 202,42] (166.617) 35.804 Restrieted funds Building fund Food bank Tranquility New Horizons Norninated Funds Thri￿￿ Summer Camp Holiday Club Coffee Lounge 48286 4.906 3J46 334 47247 3550 665 813 (S6,001) (6,009) (13,131) (2M) (14,639) {3 J50) (7,715) (1,103) (9,585) 90 32,608 665 518 (295) 109J47 (93,869) 15,478 TOTAL FUNDS 311.768 (260,486) 51282 Pagell continued... Klngsway Church Wombourne Notes to the Flnanelal Ststernents- contlnued for the Year Ended 31 December 2023 16. MOVEMENT IN FUNDS- conlinued Comparntives for movement In funds Net movement in funds At 31.1222 At l.J22 Unrestricted funds General fund 455,123 (6,086) 449.037 Re5tri¢ted fund5 Building fund Food bank Tranquility N¢w Horizons Nominated Funds 2.553 1,665 8,829 538 4,677 6,847 3,560 1.912 356 (3.675) 9,400 5.225 10.741 894 1.002 18262 9.000 27.262 TOTAL FUNDS 473.385 2.914 476.299 Compardtive net movement in fimd4 included in the above are as follows: Incoming r¢sources Resource5 expended Mov¢m¢nt in fund5 Linrestrleted funds General fvnd 167,444 (173.530) (6.086) Restricted funds Building fund Food bank Tranquility New Horizons Nominat￿ Funds 24.197 5.833 10.1)02 356 1.002 (17,350) (2.273) (8,090) 6,847 3.560 1,912 356 (3,675) (4,677) 41 J90 (32,39Q) 9.000 TOTAL FUNDS 208,834 (205,920) 2.914 17. RELATED PARTY DISCLOSURES There Mrre no related party transactions for the year ended 31 De¢¢mber 2023. Page 12 continued... Kingswoy Church Wombourne Notes to the FinanelAI Slatements- contlnued ror the Year Ended 31 December 2023 18. ULTIMATE CONTROLLINC PARTY Th¢ Charity is controlled by the trustees. Pag¢ 13 Kingsway Church Wombourne Detalled Statement of fingneial Activities for the Year Ended 31 December 2023 31.12.23 Total fimds 31.12.22 Totsl funds Unrestricted fimds Restrirt funds INCOME AND ENDOWMENTS DonAtlons and legacies Grdnts Planned giving Offerings Gift aid t&x receipts Other gifts and donations 19.900 116,142 15.135 25.344 31,318 132,021 20,481 42.857 5,430 132,021 20,481 42,857 114,558 109.128 200.789 109.128 309,917 207.839 Other tradlng activitles Other sundry income lJ87 lJ87 959 Investment income Deposit a¢¢ount interesl 245 219 464 36 Total Incomlng resoureej 202,421 109J47 311.768 208,834 EXPENDITURE Charllable actlvltles Wa8es Rat¢s and water Insurance Light and heot Telephone Fixed running ¢osts Repairs and maintenance Pasloral expenses Caiering and cleanin8 Health and 5af¢ty Small groups Worship Children & youth Community Food bank New horizons Nominated fund expenditure Tranquility fund expenditure Thrive summer camp ¢xp¢nditure Coffee lounge expenditure Depreciation of tsngible fixed assets Oversea5 missions 73.674 455 1,029 12,769 1.185 6J75 4,609 5.130 4376 8J17 17 2J61 7,464 73,674 455 1,029 12,769 1,185 6,875 60,610 5,130 4,576 8J17 17 2J61 7,464 iJ63 6,009 244 14,639 13,131 3,550 295 2,016 13.754 66,979 318 2.417 15,364 1,042 5,197 23,270 5.144 19,704 9,366 145 1.306 14,073 1.239 2,273 56,001 6,009 244 J4,639 13,131 3A50 295 4.677 2,016 13.754 2,520 13,767 145J94 93069 239,463 188,801 This page does not forni part of the statutory financial ststements Page 14 Kingsway Chureh Wombourne Detailed Slatement of ￿lD2￿cIAl Activitie5 for the Year Ended 31 December 2023 31.12.23 Total funds 31.12.22 Totsl fiinds Unrestricted Restricted Charltable aelivitles Other Bank loan interesl 20303 20203 16.299 Support costs GDI'ernanee cos¢$ Independent examiners fe¢ 820 820 820 Total resources expend¢d 166,617 93.869 260,486 205,920 Net In¢ome 35,804 15,478 51382 2,914 This page does not forn) part of the statulory fJnan¢ial stalements Page 15