KING'S CHURCH, ST PAUL'S CRAY REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31st DECEMBER 2023
King's Church, St Paul's Cray Referance and Administration Infomation Official Charity Name King's Church, St Paul's Cray Charlty Registration Number 1059986 Prlncipal Offlce Address Kings Church, 159 Chipperfield Road, St Paul's Cray, Orpington BR5 2PZ Tru8tee8 Dr Ade Magaji (Chairman) Gideon Ojo Elizabeth Davis Devalletta Nathan 8anker8 Barclays Bank 167 High Street, Bromley Accountants JC Tawse FCA Northview, The Street. Plaxtol, TN15 OQJ
King's Church, St Paul's Cray Trustees, Annual Report For the year ended 31st December 2023 The Trustees present their report along with the financial statements of the Charity for the year ended 31st December 2023.The financial statements have been prepared in accordance with applicable accounting standards and follow recommendations in the Statement of Recommended Practi.. Accounting by Charities FRS 102 and are in accordan with the Charities Act 2011. Structure, Governance and Management The charity received charitable status on 10th December 1996, under reference 1059986 and is constituted by trust deeds. The address for communication with the charity and its trustees is given at the end of this report. There were no special trusts or restricted funds, other than in respect of the property, at the year-end. The trustees are appointed by the elders of Kings Church, St. Paul's Cray. At 31 December 2023 these were Timothy Akinluyi, Ahmed Ifabua, Edward Demi Ejegi, Kenny Iranoye, Didi Akinluyi, Tayo Daramola and Tope Adebisi-Daniel and all significant decisions are made in conjunction with the elders of King's Church. The trustees do not receive specific training but are encouraged to attend relevant courses. At the Trustee8' meetings held during the year the Trustees agree the strategy and areas of activity for the Charity, including consideration of grant making, investment, reserves and risk management policies and performance. All major risks including third party risks are insured. The Trustees consider future expenditure carefully and do not enter into a contract until satisfactory funding is In place. Monthly accounting information is issued to the leaders of the church. The funds held by the charity are invested with a major UK bank. ObJectlve8 and Activitie8 The objectives of the charity are to promote evangelical Christianity and to minister to the needs of the poor in the Cray Valley area, The church continues to do this through its meetings on a Sunday and mid-week, together with Involvement in specific activities in the wider community. Gifts to external organisations and individuals are considered by the Trustees on the basis of need and fulfilment of the charitable objectives. There is no upper limit of support. Achievements and perfomiance The trustees are delighted with the progress made during the period, particularly in respect of continued refurbishment of the church buildings. The charity currently employs one full and three part time staff. The trustees consider that the church is having an increasing impact on the local community, particularly arising from the availability of its building. The trustees look forward to continuing with their work in the community during the forthcoming year. King's Church, St. Paul's Cray has continued to be part of the family of churches within New Frontiers International (Charity Number.. 1006940) however there is no legal relationship between the parties.
King's Church, St Paul'8 Cray Trustees. Annual Report For the year ended 31 December 2023 Publlc Benefit The charity is actively involved in the local community with its building being a base for this servi. Below are some of the activities.. Over 60s coffee morning on Fridays Two Alpha Courses per year, each lasting 14 weeks for interested members of the community A bi-weekly youth club on Sunday afternoon which is open to young people of primary and secondary school age in the local community Support for some local churches in the immediate vicinity and beyond Counselling Free training courses on issues such as Christian marriage, raising Christian children and how to study effectively (for secondary and post secondary students). Helping some elderly people in the community with their shopping and providing free meals from time to time. In addition, the charity makes grants to other charities, operating internationally amongst the poof. Flnanclal Revlew The trustees report a surplus of £78,414 {2022'. surplus of £90,169) for the year. This is the result of utilisation of the building extension which was completed in the prior year to be used for public benefit. The Church look forward to further achieving the charitable objectives during the forthcoming year. The trustees are particularly appreciative of the ongoing generous giving of members during the year, in a difficult economic environment. In the coming year the plan is to use the accumulated reserves to do major repair to the roofing of the Church House and Office which was last changed in 1965. Re8erv88 The church has a policy of maintaining unrestricted reserves, other than as set aside for the building project, within the range of a minimum of 3 months, to a maximum of 12 months of average expenditure. Where the reserves fall outside this range, then a strategy needs to be formulated by the Trustees to bring them back into line. At the balance sheet date, the charity's unrestricted reserves fell within these limits, excluding money ring fenced for the roofing project due to commence in 2025. The trustees continue to monitor the financial position carefully and believe that the charity is generating sufficient funds to meet its liabilities as they fall due over the next 12 months. The Trustees are satisfied with the financial position of the Charity and confirm that they have adequate assets available to fulfil their obligations. Volunteers The trustees acknowledge the work of a large number of unpaid volunteers who assist in the weekly activities of the church and look foMard to the continuation of the charity's objectives during the forthcoming year.
King's Church, St Paul's Cray Trusto08' Annual Report For the year ended 31 Decemb8r 2023 Rl8k Management The trustees actively review the major risks which the charity might face, in particular those relating to governance, reputation, operations and finance. The charity reviews its insurance annually. including the type of cover and overall levels of cover. The trustees put great emphasis on the active monitoring of its financial risks, including maintaining liquid funds to settle debts as they fall due. This has been managed closely during the building refurbishment project. Maintaining free reserves at the levels referred to above is key to our financial management. As we return to live services and to the undertaking of activities during the week, our key risks are the health and safety of attenders and participants. Key to this are our safeguarding controls over those adults who lead events involving children or vulnerable adults. Future Plans Our future plans revolve around being able to open up our completed buildings and continue to hold public services on a Sunday together with events during the week, including those put on by local organisations, utilising the church fully to support the community. Tru8t••s' Re8ponsibllltle8 Charity law requires the Trustees to prepare financial statements for each financial year which give true and fair view of the charity's financial activities during the year and of its financial position at the end of the year. In preparing these financial statements, we, as Trustees, have selected suitable accounting policies and applied them consistently, and judgements and estimates that have been made are reasonable and prudent. We are also responsible for keeping accounting records which disclose with reasonable accuracy the financial position of the charity, and which enable us to ascertain the financial position of the charity and to ensure that the financial statements comply with Charity Law. We are also responsible for the safeguarding of the assets of the Charity and for taking reasonable steps for the prevention and detection of fraud and other irregularities. The Trustees confirm that the accounts are prepared in accordance with applicable accounting standards and follow recommendations in the Statement of Recommended Practice.. Accounting by Charities FRS 102 and are in accordance with the Charities Act 2011. By order of the Trustees. Dr Ade Magaji Trustee 159 Chippeffield Road, St Paul's Cray, Orpington BR5 2PZ
King's Church, St Paul's Cray Report Of The Independent Examiner to the Trustees of King's Church, St Paul's Cray I report to the Trustees on my examination of the financial statements of King's Church, St Paul's Cray (the charity) for the year ended 31 st December 2023. Responslbilltles and basls of report As the charity trustees of the Trust, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ("the Act"). I report in respect of my examination of the Trust's accounts carried out under section 145 of the 2011 Act and in carrying out my examination, I have followed the applicable Directions given by the Charity Commission under section 145{5}Ib) of the Act. Independent examln•r'8 Statement I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: accounting records were not kept in respect of the charity as required by section 130 of the 2011 Act.. or the financial ststements do not accord with those records., or the financial statements do not comply with the applicable requirements concerning the form and content of accounts set out 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 as part of an independent examination. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached. Joanna Taw88 Bsc FCA 30 October 2024 Northview The Street, PLAXTOL
Klng's Church, St Paul's Cray Statement of Financial Activities For the year ended 31st December 2023 Note 2023 2022 Incomlng Re8ource8 1{b) Voluntary income Investment income 360,061 341,495 294 363,065 341,789 Re8our¢e8 U8•d 1(c) Charitable activities.. ministerial outreach support grants 167,059 17,076 96,321 1,988 148,372 11,964 87,514 Governance costs.. Administration Interest on secured loan Professional fees 507 720 1,700 3,050 Total resources used 284,651 251,620 Net Incoming Re8ource8 for the year 78,414 90,169 General Fund* At 1st January 2023 Income for the year 1,536,088 78 414 1,445,919 At 31st December 2023 1,614,502 1,536,088 The notes on pages 8 to 11 form part of these accounts.
Charity No. 1059986 King's Church, St Paul'8 Cray Balance Sheet as at 31st December 2023 Note 2023 2022 Fixed Assets Property, plant and equipment 1,224,644 1,260,255 Curront A8sets Tax Recoverable 14,708 12,520 Pre-payments and other debtors 1,500 1,500 Cash at bank and in hand 375,400 263,563 391,608 277,583 Credltor8, amounts falllng due wlthln one year Net Current A88ets 389 858 275 833 Total Asgets Le88 Current Llabllltles 1,614,502 1,536,088 Net A880ts 1,614,502 1,536,088 Represented by Unrestricted Fund Restricted Fund 389.858 1224.644 275,833 1260 255 Totsl charlty fund8 1614 502 1536,088 These financial statements were approved by the board on October 2024 G.OJO TRUSTEE ADE MAGAGI TRUSTEE
Klng's Church, St Paul's Cray Financial Statements for the year ended 31st December 2023 Notes to the accounts Accounting Policies These accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note{s) to these accounts. The accounts have been prepared in accordance with the Statement of Recommended Practi. Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and with the Charities Act 2011. The charity is a Public Benefit Entity as defined by FRS 102. The principal accounting policies adopted are set out below. (a) Going concem Going concern At the time of approving the accounts, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus, the trustees continue to adopt the going concern basis of accounting in preparing the accounts. (b) Incoming resources Income including donations made under Gift Aid are taken into account when received by the Charity. Income received in circUmstanS where a claim for repayment of tax has been or will be made to HM Revenue and Customs is grossed up for the tax recoverable. Any amounts of tax not yet reclaimed from HM Revenue and Customs are shown within the charity's debtors. Interest income is taken into account when receivable by the charity, regardless of when payment is made. Ic) Resources expended Expenditure is accounted for on an accruals basis and allocated to the appropriate heading in the accounts. Grants and donations payable are tsken into account at the earlier of when they are paid or become legally enforceable. Other than the normal commitments under contracts of employment there are no contractual or constructive obligations to future expenditure at the balance sheet date. Where the trustees have authorised expenditure which is not yet legally enforceable or before constructive obligations have arisen, amounts are set aside into funds designated for the purpose. (d) Fixed Assets and Depreciation Fixed assets costing over £500 a capitalised and carried at cost. They are depreciated on a straight line basis over the following periods.. Land". Buildings.. Plant- Equipment., Motor vehicles 50 years 10 years 5 years 3 years
King's Church, St Paul's Cray Flnancial Statements for the year ended 31st December 2023 Notes to the accounts Icontlnued) (e) Govemance costs Governance costs relate to the general running of the charity as a legal entity and are not connected with generating income or charitable expenditure. Critlcal accounting estlmates and Judgements In the application of the charity's accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other SoUrs. The estimates and associated assumptions are based on historical exFerience and other factors that are considered to be relevant. Actual results may differ from these estimates The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods ere the revision affects both current and future periods. Property, plant and equlpment Fre Pro Plan Mo vehicle Fixture and Fittin Cost At 1 st January 2023 Additions 1,500,000 310,250 2,650 99,801 1,912,701 At 31st Dember 2023 1500 000 318469 1920 920 Depreciation At 1 st January 2023 Charge for the year 290,000 264,562 2,650 95,234 652,446 43 830 At 31st Dernber 2023 310,000 283 825 2,650 696 276 Net book value At 31 st December 2023 1 190,000 1224,644 At 31st December 2022 1,210 000 45,688 4,567 1260,255 Voluntary Income 2023 2022 Offerings Tax recoverable Rental income Other income 259,842 54,453 42.504 3,262 247,798 53,716 39,981 360,061 341,495 The principal source of income comes from offerings at the Sunday services, together with tsx relief where Gift Aid is relevant.
10 King's Church, St Paul's Cray Financial Statements for the year ended 31st December 2023 Notes to the accounts (continuodl Charitab16 Activltie8 An analysis of the direct charitable expenditure is as follows.. 2023 202 Minlsterlal: -staff -social security costs -pensions 133,517 14,609 17,624 125,735 15,532 4,758 Leaders expens88 and conferenceg and travel 165,750 1,309 146,025 2,347 167 059 148 372 The average number of employees during the year was 3. One (2022.. 31 member of staff earned over £60,000 during the year. Pension contributions are paid to defined contribution arrangements. 2023 2022 Outreach: catering evangelism - coffee shop expenses 6,261 9,427 3,150 8,122 692 Outreach costs relate to the Church's activities outside of its Sunday meetings. 202 2022 Support: music building expenses stationery, copying and telephone training equipment and repairs utilities sundry expenses - website development - depreciation 385 17,523 234 1,076 19,125 11,018 357 2,773 350 15,078 284 2,638 10,552 11,047 797 2,015 96,321 87,514 Support costs represent the costs of operating church meetings and the running of an office. Grants paid to individuals relate to visiting speakers and specific hardship circumstances.
King's Church, St Paul's Cray 11 Flnancial Statements for the year ended 31st December 2023 Notes to the accounts (contlnued) Credltor8, amounts falllng due within one year 2023 2022 Accruals Other creditors 1,750 1,750 1,750 1,750 Fund8 Unrestricted ner Restricted Buildin Fund As at 1st January 2022 Deficivsurplus for the year Transfer froml{tol building fund 143,790 90,169 41,874 1,302,129 {41,874) As at 31 December 2022 Deficivsurplus for the year Transfer froml(to) building fund 275,833 78,414 1,260,255 As at 31 st December 2023 389,858 1,224,644 As at 31 st December 2023 the net assets of the charity comprised. eneral Fun Buildin Fund Fixed assets Debtors Creditors Cash 1,224,644 1,224,644 16,208 11,750) 375 400 16,208 (1,750) 375 400 389,858 1,224,644 1,614,502