CHARITY REGISTRATION NUMBER: 1065048 Kingsway Christian Fellowship Unaudited Financial Statements 31 December 2023 MATTOCKS GRINDLEY Chartered Accountants 18 Mulberry Avenue Turnstone Business Park Widnes Cheshire WA8 OINN
Kingsway Christian Fellowship Financial Statements Year ended 31 December 2023 Page Trustees, annual report Independent examineff s report to the trustees 10 Statement of financial activities 11 Statement of financial position 12 Notes to the financial statements 13 The following pages do not forni part of the financial ststements Detailed statement of financial activities 23 Notes to the detailed statement of financial activities 25
Kingsway Christian Fellowship Trustees. Annual Report Year ended 31 December 2023 The trustees present their report and the unaudited financial statements of the charity for the year ended 31 December 2023. Reference and administrative details Registered charity name Kingsway Christian Fellowship Charity registration number 1065048 Prlnclpal office Kingsway Christian Centre Church Road Waterloo Liverpool L22 SNA The trustees Mrs R A Fems Mrs A Martin Mr P S Bentley Mrs A J Thompson {Appointed 23 August 2023) (Retired 25 July 2023) Independent examiner Mr G Mattocks FCA 18 Mulberry Avenue Tumstone Business Park Wdnes Cheshire WA8 OWN Structure, governance and management Kingsway Christian Fellowship was registered as a Charity with the Charities Commissioners on 26 June 1980 and its registration number is 1065048. The Fellowship is domiciled at Kingsway Christian Centre, Church Road, Waterloo, Liverpool L22 SNA, which is the registered address. The Fellowship is a charitable trust - the governing document being the Trust Deed dated 26 June 1980, as amended by subsequent deeds. The current Trustees are Mrs. Rosemary Anne Ferns and Mr P. S. Bentley who were appointed by the Elders. The Trustees play an active and supportive role in ensuring the Church's expressed aims and objectives are advanced and properfy resourced. Effective monitoring safeguards are in plats to ensure the church finances are protected from fraudulent misuse and inappropriate allocation. A Safeguarding Policy is also in place and regularly reviewed in accordance with appropriate legislation. Procedures are in place to assist with safer recruitment,. appropriate persons are appointed to deal with issues arising relating to allegations or concems about behaviour toward children, young people or vulnerable adults. Appropriate and up to date safeguarding training is provided for those involved in ministry. The Trust's bankers are HSBC Bank plc, 197 Stanley Road. Bootle, Merseyside L20 3DX,' and the accountants are Mattocks Grindley, Chartered Accountants, 18 Mulberry Avenue, Turnstone Business Park, Widnes, Cheshire WA8 OM.
Kingsway Christian Fellowship Trustees. Annual Report (eontlnued) Year ended 31 December 2023 Objectives and activities Advancement of Christian belief and knowledge, to make Jesus Christ known to every man, woman, and child in the community, to build the Kingdom of God. All the Church's activities and effort are developed towards those ends and to provide a general benefit to the community by reaching out in love and generous giving. Klngsway's Jubllee Year In 2023 In 2023 Kingsway celebrated our 50th year anniversary, having been established in April 1973 meeting from house to house both in 'Kingsway' and 'College Road, Crosby. The Church building, situated in Church Road, Waterloo, was subsequently opened 10 years later on the 16th April 1983. It was wonderful to lebrate with many longstanding friends and members of the Fellowship on 16th April 2023, fifty years on. In recognition of the event, a keepsake photo book was produced providing some lovely memories of just a few of the memorable events and people who have been involved over the years. Our keepsake acknowledged the fact that God has been faithful through the years and will remain faithful in the years to come, Know therefore that the Lord your God,. he is the faithful God keeping his covenant of love to a thousand generations of those who love him and keep his commandments. (Deuteronomy We also mourned the loss and celebrated the life of a much-loved friend, who was a father in the faith, a founder member and elder of Kingsway Christian Fellowship. Gordon Nelson was promoted to glory in 2023. He is greatly missed, and fellowship owes him a great debt of thanks. He is "absent from the b)dy present with the Lord'l Kindlers {Pre-School children) The Kindlers ministry operates each Sunday and provides a safe environment for pre-school children to learn about God through play, drama, craft, music, and interactive storytelling. Parents are heavily involved in this group and enjoy fellowship with one another and develop friendships and wider support networks for their young families. Following the Pandemic the decision was made to keep three of the older children in this group to help them develop their social skills, therefore no children were moved into the Kids Church 1 Group. Kids Church (Reception to year 3) Kids church is a ministry that operates each Sunday providing children of primary school age with a safe environment to play, create and learn about God. The sessions engage the children with craft, music, digitsl media, storytelling, and high-energy games. The children develop strong social bonds with each other and really look forward to taking part in this group each week. We have had some new volunteers join the Kids Church team this year. Kids Church 2 (Year 4 to year 6} Kids Church 2 operates each Sunday providing children with opportunities to leam about God. The sessions engage the children with craft, music, digital media, storytelling, and high-energy games, which encourage them to develop friendships. A number of children moved up into Youth Church. Klds Small Group KSG is a group to help our kids grow in their walk with Jesus where they can spend time with others who are like them, and some who aren't. They are encouraged to love like Jesus loved through kind words and actions and enjoy each otherfs company through games and activities. Loving God together
Kingsway Christian Fellowship Trustees. Annual Report (contlnued) Year ended 31 December 2023 through worship and praying for one another. KSG is currently for children of church families but may be opened up to the community at some point in the future. Youth Church (Secondary school age chlldren) Youth church is held each Sunday for secondary school age young people. It helps them to develop both socially and spiritually. The topics taught and discussed are aimed specifically at issues that young people in the modem world fa. The young people have also purchased Christmas gifts to give to single pensioners at Christmas and develop their own ministry to the younger children in Kids Church. We have a number of new volunteers working with this age group. Youth Group (Secondary school age children) Youth Group is held on a Friday evening (term time only) for secondary school age young people. It helps them to develop both socially and spiritually. The topics taught and discussed are aimed specifically at issues that young people in the modem world face. The young people are encouraged to develop friendships and teamwork. Dave Courtney Ministry to Marriage The Ministry to Marriage supports married couples and families in the church and our community, together with those preparing for marriage. The 'Marriage Sessions, course is for Couples who have been married fr)r years or newlyweds. The course provides the opportunity to invest in and enrich their marriage relationship. The course provides a concise and comprehensive approach to four key factors in marriage: Cherish- keeping love alive= Connect - all about communication.. Collaborate - dealing with conflict= Commit- choosing to love when things get tough. For those preparing for marriage we continue to use 'The Marriage Preparation Course" produced by Alpha International which covers 5 key areas including.. Leaming to Communicate Resolving Conflict Commitment in marriage Connection, discovering each othe¢s needs Adventure - the opportunity and challenges of married life
Kingsway Christian Fellowship Trustees, Annual Report l¢ontlnu•d) Year ended 31 December 2023 ObjectNes and activities (continued) Age Well The Age Well Group, under normal circumstances, meets every Friday and was developed to enhance the well-being of its members through Fellowship, fvjn & mutual support...Spirit, Soul & Body. The group conslsts of mature members from Kingsway who have a well of experience and wisdom which we tap into, in order to look to the future with a positive and purposeful outlook. We all face challenges, at every season of life, and hope to help and support each other on thejourney whether through bereavement, isolation, caring responsibilities, or chronic physicavmental health issues. The Group has elements of a typical small group (with added extrasl) We come together, wrth a cuppa, and as family, we move on to Bible study, worship, prayer, quizzes and games before ending each session with lunch. Due to the nature and fomiat of the group,. maintsining intimacy and trust- creating a Dementia Friendly environment. "Even to your old age and grey hairs l am He who will sustsin you. I have made you and I will cary you., I will sustain you and I will rescue you.. Isaiah 46..4 Our aim is to continue to grow in the knowledge and love of God through sharing our lives and from a vital connection with Jesus and each other. Over the past year or so some of the members have experienced health difficulties and bereavement that have been challenges to themselves and their families. We have supported each other with prayer and on-going 'connection'. The group continues to develop in our relationship with Jesus and each other and there is a growing confidence in our love for each other and our vital position in the Body of Christ. Waterfoo Station Team On 24th November 2010 Kingsway adopted Walerloo Station, providing flower displays and maintaining these throughout the year. A team of volunteers continues to maintain the displays and pray for the safety and wellbeing of travellers who pass through this gateway and for station staff. From time to time there is opportunity to engage in conversation with travelling commuters as they comment on the displays. Wendy Imlcox Llttle Angels Toddler Group The toddler group is a community group for children ranging in age from new-bom babies up to 4 years old who attend with their parent or carer. The group is staffed by volunteers both from the church and from the community. The group operates on a Tuesday and Wednesday moming during term time only and is attended by on average around 70 children and their adult carers each week. The children are able to play with a large range of toys and equipment and can take part in a craft activity which they can then take home with them. During the session the children are provided with a snack and a drink which they have either sitting at the tables or in the highchairs. Sitting together and sharing helps with their social development. Towards the end of each session there is a song time with a mix of both secular and Christian children's action songs. Sue Thompson The 65+ Group We are a group of about 18 - 22 people that meet once a Month. We come together to meet with God and share his goodness with each other. We meet with God
Kingsway Christian Fellowship Trustees, Annual Report (continued) Year ended 31 December 2023 Objectlves and activities {contlnuodJ through prayer, praise, and worship, and listen to what he wants to say to us. We support and help each other in many different ways, both inside and outside of the meeting. Eddie Rainger Pastoral Visiting Team The pastoral team visits those who are elderly, sick, isolated, or housebound ensuring they are included in the lrfe of the Fellowship. The pastoral team continues to offer friendship, help with practical needs as well as mLrtual encouragement and spiritual groW(h. Alpha We ran the Alpha course in the springlsummer in 2023 with 25 guests in attendance. The Alpha Course is an 11-week course introducing the basics of the Christian faith through a series of talks. The course gives people with little or no knowledge of Christianity the chance to explore the meaning of life in an atmosphere of friendship, and wth food. The Alpha Course is created to outline core principles of Christian faith that all denominations agree on. Freedom In Christ Course (FIC) We ran FIC in Autumnlwinter 2023 with 20 guests attending the course. FIC is a 10-week course and with an away day to help people find freedom from spiritual issues that might be holding them back. The course facilitates effective discipleship in a straightfomard way using sound biblical teaching to help people to take hold of the truth of exactly what happened when they became a Christian, resolve personal and spiritual issues and to make following Jesus a way of life. Renew Café Kingsway Renew Café Kingsway launched its Renew Café in 2023, which subsequently has been renamed 'Café @ Kingsway. The vision was for a friendly place where people can come into a warm space during the winter months and find friendship all year round. The Café provides free refreshments for anyone in the community, along with an opportunty to engage in an activity, such as, playing cards and board games, a craft, jigsaw puzzle or simply coming for a chat and a cuppa. A quiet space has been created for times of prayer and reflection for those who want to refiect on scripture and have a time of prayer facilitated by one of our volunteers. The Café space is used by those who are committed to the church as well as locals and visitors to Waterloo. Wider Involvement Prayer Prayer is at the heart of all that we do as a Church. Regular prayer meetings take place on Sunday momings and an evening meeting on the First Sunday in the month along with seasons of prayer and prayer times during small group meetings and various other activities during the week. Prayer powerfully impacts the life of the church and its mission.
Kingsway Christian Fellowship Trustees, Annual Report (continued) Year ended 31 December 2023 Objectlves and activities {contlnu•rfJ Kingsway together with the 'lnternational Christian Embassy Jerusalem, (ICEJI and 'Prayer for Israel, started to host a fortnightly regional prayer meeting for Israel and the region following the attack on Israel by Hamas terrorists on 7th October. People continue to gather for prayer and intercession for the release ofthe hostages, an end to Hamas and the war along with wider peace in the region. We have continued to pray into the church vision to Reach our community with the'Good News, of Jesus Christ, to see Broken lives restored and to see the body of Christ built up and Refreshed. We also pray for God to breakthrough in many ways such as in healings, relationships, family, employment, ministry and in many other areas. Online prayer makes it possible to continue to join national and intemational prayer initiatives such as daily prayer meetings for Israel the ongoing conflict, the ICEJ "Rosh Chodesh" prayer initiative and others. The WhatsApp prayer initiative now called the "Prayerforce" has continued to grow, and the group has supported, in prayer, those in the church and many others known by church members as they recover from sickness, undergo medical treatment or have other prayer needs. Our Zoom prayer meeting each Thursday has continued since the Covid outbreak and has met weekly since 2020. Together for the Harvest (TFH) TFH is an association of churches working together to present the good news of Jesus Christ to every man, woman, and child in the Merseyside region. As an active member of TFH Kingsway shares its aim that by working together and mobilising Christians to action, a positive difference can be made in our communrties bringing both spiritual and social transformation to our region. This aim is achieved through unity amongst leaders and churches in the region by prayer and mobilising Christians to express the love of God in both words and action. Kingsway continues to draw local leaders in the North Mersey Region together for Regional TFH prayer meetings as well as involvement in the wider initiatives across Merseyside.
Kingsway Christian Fellowship Trustees. Annual Report (¢ontInu) Year ended 31 December 2023 Achlevements and perfonnance The vision for Kingsway continues to develop wth a greater awareness and focus on our call to be a 'House of Prayer, and a true reflection of Christ, as his body, on earth. We long for every man, woman, and child to both hear and see in action the good news message of God's great love and mercy. Kingsway is a thriving community of Christians who love God, love one another and who reach out to others with the love of God. Central to our vision, our small groups help people to grow in the Christian faith as disciples of Jesus Christ. We gather in many contexts wth purpose,. to pray, to study the Bible and apply it to daily life, to develop friendship, to support one another in the ups and downs of life, eat together, provide opportunities for spiritual growth and for serving others both inside and outside the groups. However people connect into the life of the church, they are made to feel welcome and valued. It is our continued aim to encourage one another to be wholehearted disciples of Jesus. INe are blessed to be part of God's family which demonstrates love for God and one another as part of every day life together. We continue to value the need for a personal walk with God that bears fruit in family, workplaces, neighbourhoods, and the widerworld. As it says in Romans 12.5, we are'individually members of one another." Kingsway is a community that cares for one another demonstrating God's love in word and deed. In the coming year we will continue to demonstrate and proclaim the love of God, seek to strengthen families, pray for renewed hearts and for transformed lives. We see this happening as we continue to pray and humble ourselves before God, offering our lives to him in total surrender, using our given gifts and talents for the purpose God intended in our lives. Blessings Rob Payet, Pastor Financial review The Financial result of the period under review shows a deficit of £1,669 which is in line with expectstions.
Kingsway Christian Fellowship Trustees. Annual Report {¢ofttiftued) Year ended 31 December 2023 Plans for future periods Kingsway will seek to be an Influen for good in our local community and beyond as we live authentic lives as disciples of the Lord Jesus Christ. We will endeavour to be fully devoted, wholehearted disciples of the Lord Jesus Christ to bring positive transfonnation in our homes, communities, workplaces, with family and friends and to the worfd. Kingsway will continue to listen and respond to the call of God in the coming season. We recognise that it is God who builds His church as we surrender to His will both corporately and as individuals. Prayer remains central to our call and ministry along with a commitment to deepening relationships and connectedness as a body. We will work to encourage our children and young people, support and care for our older generation and provide opportunities for all those who love the Lord Jesus to serve Him as reach out to our communities and beyond with the love of God in the power of the Holy Spirit, with expressions of generosity and unashamed faithfulness to the gospel message. We will continue to develop wider ministry and service to bring transformation and hope to the community. We will continue to focus on the three key areas of the vision to., Reach the lost, Restore the broken and Refresh believers. We will work closely with other local churches and through the 'Together for the HaNest' nthork of churches take forward the vision to help every man, woman and child hear the good news about Jesus. We will continue to build on the success of our Small Groups, in all it's expressions, aiming to have maximum engagement of the church in fellowship and reaching out to the wider community. We will continue to develop our worship ministry team and expressions of worship in the church. We will continue to engage with those who have little or no experience of church, encouraging connectedness in relationships, opportunities for people to share their faith story and build strong community and fostering a discipleship culture. We will explore opportunities to support local and overseas missions with a view to more active involvement in missions and arranging an overseas mission for our young people. We will Introdu regular seasons of worship and fun activities giving plenty of opportunities to invite the wider community to join in. We will equip our church congregation to become more fluent and confident to share their faith story with others and to be encouraged to reach out to those who have not yet found faith in Jesus. We will explore new ministry opportunities and develop existing ministries where appropriate, to help th the spiritual, practical, and emotional needs of those in our community. Public beneflt Kingsway continues to provide voluntary services that make a considerable contribLrtion to the community and a significant public benefit. All the ServIS highlighted in this report are open to the public, as are Sunday worship Servi$. The church building has also been made available for elections and for use by other local agencies.
Kingsway Christian Fellowship Trustees. Annual Report (eontlnued) Year ended 31 December 2023 The trustees, annual report was approved on ......... . trustees by: signed on behalf of the board of Mrs R A Fems Trustee Mr P S Bentley Trustee
Kingsway Christian Fellowship Independent Examiner's Report to the Trustees of Kingsway Christian Fellowship Year ended 31 December 2023 I report to the trustees on my examination of the financial statements of Kingsway Christian Fellowship I'the charity,) for the year ended 31 December 2023. Responslblllties and basis of report As the trustees of the charity you are spOnsible for the preparation of the financial ststements in accordance with the requirements of the Charities Act 2011 ('the Act,). I report in respect of my examination of the charity's financial statements carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act. Independent examlnerfs ststement I have completed my examination. I confirm that no material 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 Act., or the financial statements 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 wtth the examination to which attention should be drawn in this report in order to enable a proper understanding ofthe accounts to be reached. Mf G Mattocks FCA Independent Examiner 18 Mulberry Avenue Turnstone Business Park Mfidnes Cheshire WA8 OWN l¢/£lLIt 10
Kingsway Christian Fellowship Statement of Financial Activities Year ended 31 December 2023 2023 Restricted funds Totsl funds Total funds 2022 Unrestricted funds Note Income and endowments Donations and legacies Charitable activities Investment income other income 125,207 750 987 18.648 125,207 750 987 18,648 114,867 700 140 19,477 Totsl Income 145,592 145,592 135,184 Expenditure Expenditure on charitable activities Total expenditure 147,350 147,350 147,350 134,098 147,350 134,098 Net gainsl{losses) on investments 11 89 89 (8) Net (expenditurellincome (1,669) {1,669) 1,078 Transfers between fvnds (742) 742 Net movement In funds (2,411) 742 (1,669) 1,078 Reconciliation of funds Total funds brought fOard Total funds carried forward 460,474 1,475 461,949 460,871 458,063 2,217 460,280 461,949 The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activrties. The notes on pages 13 to 21 forni part of these financial statsments. 11
Kingsway Christian Fellowship Statement of Financial Position 31 December 2023 2023 2022 Note Fixed assets Tangible fixed assets Investments 16 17 388,980 365 394,231 276 389.345 394,507 Current assets Debtors Cash at bank and in hand 18 1,029 73,661 74,690 1,130 68,391 69,521 Credltors: amounts falling due within one year Net current assets 19 3,755 2,079 70.935 67,442 Total assets18ss current liabilities 460,280 461,949 Net assets 460,280 461,949 Funds of the charity Restricted funds Unrestricted funds 2,217 458,063 1,475 460,474 Total charity funds 21 460,280 481,949 These ncial statements were approved by the board of trustees and authorised for issue on nd are signed on behalf of the board by.. QFe< Mrs R A Ferns Trustee Mr P S Bentley Trustee The notss on pages 13 to 21 fonn part of these financial statsments. 12
Kingsway Christian Fellow3hip Notes to the Financial Statements Year ended 31 December 2023 General Infomiation The charity is a public benefit entty and a registered charty in England and Wales and is unincorporated. The address of the principal office is Kingsway Christian Centre, Church Road. Waterloo, Liverpool, L22 SNA. Statement of compliance These financial statements have been prepared in compliance with FRS 102, The Financial Reporting Standard applicable in the UK and the Republic of Ireland., the Statement of Recommended Practi applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102) (Charities SORP (FRS 102)) and the Charities Act 2011. Accounting policies Basls of preparation The financial ststements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure. The financial statements are prepared in sterling, which is the functional currency of the entity. Going concern There are no material uncertainties about the charity's ability to continue. Judgements and key sources of estlmation uncertainty The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectstions of future events that are believed to be reasonable under the circumstances. Fund accounting Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes. Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment. Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of sub-classes.. restricted income funds or endowment funds. 13
Kingsway Christian Fellowship Notes to the Financial Ststements (¢ofttinuedJ Year ended 31 December 2023 Accounting pollcles (¢ofttinuedJ Incomlng resources All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income= income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably. legacy income is recognised when receipt is probable and entitlement is established. income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers. income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and retumed if unspent, in which case it may be regarded as restricted. Resources expended Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates.. expenditure on raising funds includes the costs of all fundraising activities, events, non- charitable trading activities, and the sale of donated goods. expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities. other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities. All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned beeen the activities they contribute to on a reasonable. justifiable and consistent basis. Tangible assets All fixed assets are initially recorded at cost. 14
Kingsway Christian Fellowship Notes to the Financial Statements (contlnu•d) Year ended 31 December 2023 Accountlng policies (continued) Depreclation Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows- Propety Fixtures & Fittings Equipment 2 % reducing balance 250h reducing balance 25 % reducing balance Investments Listed investments are measured at fair value with changes in fair value being recognised in profit or loss. Impairment of fixed assets A review for indicators of impairment is Caled out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. Financial instruments A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or reiVed and not discounted. Where investments in shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in income and expenditure. All other such investments are subsequently measured at cost less impairment. Defined contributlon plans Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as an expense in the period in which it arises. 15
Kingsway Christian Fellowship Notes to the Financial Statements (continued) Year ended 31 December 2023 Donations and legacies Unrestricted Funds Restricted Total Funds Funds 2023 Donations Offerings Donations 123,787 1,420 123,787 1,420 125,207 12S.207 Unrestricted Funds Restricted Total Funds Funds 2022 Donatlons Offerings Donations 112,411 1,656 112,411 2,456 800 114,067 800 114,867 Charltable actlvities Unrestricted Total Funds Unrestricted Total Funds Funds 2023 Funds 2022 Centre Hire 750 750 700 700 Investment income Unrestricted Totsl Funds Unrestricted Total Funds Funds 2023 Funds 2022 Bank interest receivable Dividends 976 976 11 128 12 128 12 987 987 140 140 Other Income Unrestricted Total Funds Unrestricted Total Funds Funds 2023 Funds 2022 Gift Aid 18,648 18.648 19,477 19,477 16
Kingsway Christian Fellowship Notes to the Financial Ststsments (Conthufyd) Year ended 31 December 2023 Expenditure on charitable activities by fund type Unrestricted Funds Restricted Total Funds Funds 2023 Direct Charitable Activity Support costs 145,299 2,051 145,299 2.051 147,350 147,350 Unrestricted Funds Restricted Total Funds Funds 2022 Direct Charitable Activity Support costs 132.018 1,977 103 132,121 1,977 133,995 103 134,098 Expendlture on charitsble activities by activity type Activities undertaken directly Support Total funds costs 2023 Total fund 2022 Direct Charitable Activity Governance costs 145,299 145,299 2,051 147,350 132,121 1,977 2.051 145,299 2,051 134,098 10. Analysis of support costs Analysis of support costs Total 2023 Total 2022 Finance costs Govemance costs 125 1,928 2.051 125 1,926 2,051 123 1,854 1,977 11. Net gainsl(losses) on investments Unrestricted Totsl Funds Unrestricted Total Funds Funds 2023 Funds 2022 Gainsl(losses) on listed investments 89 89 (8) (8) 12. Net (expenditure)lincome Net (expenditure)lincome is ststed after chargingl{crediting)- 2023 2022 Depreciation of tangible fixed assets 11,440 10,777 17
Kingsway Christian Fellowship Notes to the Financial Ststements {¢ontinu•dJ Year ended 31 December 2023 13. Independent examination fees 2023 2022 Fees payable to the independent examiner for.. Independent examination of the financial statements 1,926 1,854 14. Staff costs The average head count of employees during the year was 4 (2022: 4). No employee received employee benefits of more than £60,000 during the year (2022.. Nil). IS. Trustee remuneratlon and expenses One trustee has been paid remuneration from employment with the charity. Existing employee, Mr Peter Bentley, who became a Trustee on 8 June 2022, received a salary of £20,827 for his position as Treasurer. Employer pension contributions of £583 were also made. 16. Tangible fixed assets Land and Fixtures and buildings fittings Equipment Total Cost At 1 January 2023 Additions 462,375 39,248 3,127 28,822 3,062 530,445 6,189 536,634 At 31 December 2023 462.375 42,375 31,884 Depreclation At 1 January 2023 Charge for the year At 31 December 2023 76,872 7,710 32,868 2,377 26,474 1,353 136,214 11,440 84,582 35,245 27,827 147,654 Carrylng amount At 31 December 2023 377,793 7,130 4,057 388,980 At 31 December 2022 385,503 6,380 2,348 394,231 18
Kingsway Christian Fellowship Notes to the Financial Ststements (continued) Year ended 31 December 2023 17. Investments Listed investments Cost or valuation At 1 January 2023 Additions Fair value movements 276 At 31 December 2023 365 Impairnient At 1 January 2023 and 31 December 2023 Carying amount At 31 December 2023 365 At 31 December 2022 276 All investments shown above are held at valuation. Listed investments The aggregate market value of listed investments is £365 (2022= £276). Financial assets held at fairvalue The listed investments consist of111 Santander shares. The fair value is based on the share price of £3.290 at 31 December 2023 (£2.485 at 31 December 2022). 18. Debtors 2023 2022 Prepayments and accrued income Other debtors 699 330 800 330 1.029 1,130 19. Creditors: amounts falling due wlthln one year 2023 2022 Accruals and deferred income 3,755 2,079 20. Pensions and other post retirement benefits Defined contribution plans The amount recognised in income or expenditure as an expense in relation to defined contribution plans was £2,23612022.' £1,616). 19
Kingsway Christian Fellowship Notes to the Financial Statements (continued) Year ended 31 December 2023 21. Analysis of charitable funds Unrestrlcted funds At 1 Jan 2023 Gains and At losses 31 Dec 2023 Income Expenditure Transfers Unrestricted Fund 460,474 145,592 (147,350) (742) 89 458.063 At 1 Jan 2022 Gains and At losses 31 Dec 2022 Income Expenditure Transfers Unrestricted Fund 460,093 134,384 (133,995) (8) 460,474 Restricted funds At 1 Jan 2023 Gains and At losses 31 Dec 2023 Income Expenditure Transfers Restricted Fund 1,475 742 2,217 At 1 Jan 2022 Gains and At losses 31 De¢ 2022 Income Expenditure Transfers Restricted Fund 778 800 {103) 1,475 The balance in the restricted fund of £2,217 consists of the following.. 2023 Musicians Youthchild 142 2,075 2,217 20
Kingsway Christian Fellowship Notes to the Financial Statements (contlnu•d) Year ended 31 December 2023 22. Analysis of net assets between funds Unrestricted Funds Restricted Total Funds Funds 2023 Tangible fixed assets Investments Current assets CredÈtors less than 1 year Net assets 388,980 365 72,473 (3,755) 458,083 388,980 365 74,690 (3,755) 460,280 2,217 2,217 Unrestricted Funds Restricted Total Funds Funds 2022 Tangible fixed assets Investments Current assets Creditors less than 1 year Net assets 394,231 276 68,046 (2,079) 460,474 394,231 276 69.521 (2,079) 461,949 1.475 1,475 23. Financlal Instruments The charity currently holds no financial instruments. 21
Kingsway Christian Fellowship Management Infonnation Year ended 31 December 2023 The following pages do not form part of the financial statements. 22
Kingsway Christian Fellowship Detailed Statement of Financial Activities Year ended 31 December 2023 2023 2022 Income and endowments Donations and legacies Offerings Donations 123,787 1,420 112,411 2,456 125,207 114,867 Charltable activltles Centre Hire 750 700 Investment Income Bank interest receivable Dividends 976 11 128 12 987 140 Other Income Gift Aid 18,648 19,477 Total Income 145,592 135,184 Exp8ndÉture Expenditure on charitable activities Wages and salaries Employels NIC Pension costs Rates and water Repairs and maintenance Insurance Other motorltravel costs Legal and professional fees Telephone Other office costs Depreciation Other interest payable and similar charges OutreachlEventslConcerts Donations, Missions & Subscriptions Children & Youth 85,015 1,807 2,236 7,010 12.226 3.227 554 1.926 90 6.310 11,440 125 6,317 4,478 4,589 74,879 1,288 1,616 5,308 16,797 4,396 1,019 1,854 747 5,035 10,777 123 2,727 3,800 3.732 147,350 134,098 Totsl expenditure 147,350 134,098 23
Kingsway Christian Fellowship Detailed Statement of Financial Activities (¢ontlnu8d) Year ended 31 December 2023 2023 2022 Net gainsl{losses) on investments Gainsl(losses) on listed investments 89 (8) Net (expènditure)lincome (1,669) 1,078
Kingsway Christian Fellowship Notes to the Detsiled Ststement of Financial Activities Year ended 31 December 2023 2023 2022 Expenditure on charitable actlvltles Direct Charitable Activity Activities undertaken directly Wageslsalaries Employerfs NIC Pension costs Rates, water, light and heat Repairs & Maintenance 85,015 1,807 2,236 7,010 12,226 74,879 1,288 1,616 5,308 16,797 E li Insurance Motornravel costs Telephone Sundry costs Depreciation OutreachlEventslConcerts Donations, Missions & Subscriptions Children & Youth 3,227 554 90 6,310 11.440 6,317 4.478 4.589 4,396 1,019 747 5,035 10,777 2,727 3,800 3,732 132,121 145,299 Governance costs Governance costs - accountancy fees Bank Charges 1,926 125 1,854 123 2,051 1,977 Expenditure on charttable activities 147,350 134,098 25