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2021-12-31-accounts

Charity registration number 1078477

KINGFISHER CHURCH

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

KINGFISHER CHURCH

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees

P. Braham N. Parkinson V Tullett (Appointed 30 September 2021)

Charity number 1078477 Independent examiner Nicholas J Bishop FCCA ACA Unit 3 Ambrose House Meteor Court Barnett Way Barnwood Gloucester GL4 3GG Bankers HSBC Bank plc 11a High Street Tewksbury GL20 5AP

KINGFISHER CHURCH

CONTENTS

Page
Trustees' report 1 - 5
Independent examiner's report 7
Statement of financial activities 8
Balance sheet 9
Notes to the financial statements 10 - 19

KINGFISHER CHURCH

TRUSTEES' REPORT

FOR THE YEAR ENDED 31 DECEMBER 2021

The trustees present their annual report and financial statements for the year ended 31 December 2021.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the church's governing document, the Charities Act 2011 and “Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)” (as amended for accounting periods commencing from 1 January 2016)

Objectives and activities

The church's objects are :

-to advance the Christian faith and for any other purposes that, according to the law of England and Wales is charitable within the United Kingdom and/or the world and that the trustees in their discretion deem fit.

-to relieve persons who are in conditions of need and hardship, who are suffering distress in such parts of the United Kingdom or the world as the trustees may from time to time deem fit.

-to advance education in accordance with Christian principles by such means as the trustees may consider appropriate. This is to include the establishment and operation of educational establishments in such parts of the United Kingdom or the world as the trustees may from time to time think fit.

Activities:

-the holding of regular services to instruct and enable people in the worship of God

-providing such activities as are relevant and helpful throughout the week, enabling specific age-related and interest-related groups to grow in community and in their relationship with God.

The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the church should undertake.

Achievements and performance

2021 was once again a year of challenge for the Kingfisher Family with the continuation of the effects of the COVID19 pandemic and a further lockdown during the first 5 months. Several members of the congregation, and some of our staff, contracted coronavirus, and it wasn't until the latter part of the year that many of the congregation felt confident enough to meet up in person at church.

In-person services and activities were suspended until May 2021. Throughout the Covid restrictions we continued to operate as best we could by providing online activities: Sunday morning services have been offered at both Tredworth and Westgate churches, and an evening service offered for the UK and Worldwide churches; we have maintained support group and regular prayer meetings; and the pastors have remained in contact with congregations and supported our vulnerable members.

In addition, the effects of COVID-19 were felt deeper and wider across our International Family with many facing extreme financial difficulties. Utilising online media has extended our reach, where we have been able to continue leadership conferences in India that have proved to be both popular and powerful.

The Financial Model continues to provide solid Budget Forecasting and management processes for both churches and the International Family. The financial planning and reporting processes have been improved with refinements in cash flow forecasting. The Trustees now have greater financial visibility in key areas, which means that our ability to make well-informed decisions, control expenditure, and to agree priorities continues to improve.

The model has continued to provide the Trustees with clarity around in-year finances, and has enabled medium and long-term planning to continue to be undertaken with confidence. This has meant we have been able maintain reliable forecasts in year, make timely adjustments and once again deliver early forecasting for FY2022.

KINGFISHER CHURCH

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021

Kingfisher Church and Treasure Seekers continue to work together. When Covid restrictions were relaxed in September, the Social Enterprise (Treasure Seekers) re-introduced its discos and Performing Arts programme using Kingfisher Tredworth building. In return, Kingfisher Church uses various rooms in the Treasure Seekers building in Westgate Street each Sunday for the services of Kingfisher Westgate once in-person services were re-introduced. This is an arrangement that has benefitted both organisations, especially as many in the congregation of Kingfisher Westgate also access services that are provided by Treasure Seekers, and a number of Kingfisher church members volunteer at one or more of the support services Treasure Seekers provides in reaching out to vulnerable adults and those with mental health issues and personality disorders.

Kingfisher Tredworth

2021 started with us entering another lockdown and for the first five months of the year all of our groups were either online or unable to run. We reintroduced many of things that had been established during the 2020 lockdown:

From July 2021 work continued on getting our building fit for purpose so that we could reopen in a safe way towards the end of that month and restart in-person church on 25 July. In September we relaunched our in-person parent/ toddler group and twins’ group during the week having established a new team of volunteers to run these groups. In addition, we introduced a new alternate Wednesday night church session to encourage the church congregation and leadership to grow with the focus on team building, mental health awareness, relationship support and worship and prayer. From September most Connect groups were meeting back in-person. In November our first Baptism service since 2020 was held and three people were baptised and in December we had our first Christmas parties in two years for the Twins and Toddler groups.

In the Autumn, Homestart (a local parent support organisation) started running sessions for new parents in the building during the week. Two Community days were held to open our doors to the local area, meet our neighbours and show more visibility as a church. In December, World Cafe held their Christmas social at Tredworth bringing together communities in Tredworth.

The Tredworth Church building work commenced in July and August with a full survey of the building being completed by 8 Construction Management Ltd, a local building company. They produced a full report of areas that required repair and maintenance. The priority action was to repair the leaking flat roof above the Prayer Room and old Soft Play Room, and leaks in the pitched roof above the Jungle Room. These leaks have been an issue for more than 10 years and despite our best efforts to fix them the leaks have persisted. The initial estimate for the work was £10,000 and we raised this through an appeal to the Tredworth congregation. The roof problems proved to be far greater than estimated as the condition of the flat roof, channels and guttering, once stripped back and exposed, was completely rotten in substantial areas. Work on the roof remains ongoing as we enter 2022, and the final costs are projected to be around £17,000. The shortfall has been funded from reserves, but the intention is that this will be reimbursed to reserves by a further appeal to the congregation once works are completed.

In addition, volunteer work parties were arranged from the congregation during the Summer and the Main Hall, entrance corridor, One-Eighty meeting room, and Little Fishes room were decluttered, cleaned and decorated. The car park was also weeded and the back hedges that were very overgrown were cut back, and entrance drive was patch repaired and cleared.

As part of our regular maintenance routine through Citation, a full Fire Audit was completed and work started on completing identified works. Also we completed an Electrical equipment survey and PAT testing was undertaken and some improvement works identified. Additional quotes for electrical and internal repair works will be gathered on Q1 of 2022 and these will be incorporated in to the ongoing building project work.

KINGFISHER CHURCH

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021

Kingfisher Westgate

Kingfisher Westgate has continued to see new people coming along. It was wonderful that, as the lockdown ended towards the end of the year, we were able to conduct 8 baptisms. The children’s ministry in particular has welcomed new children since the end of lockdown. During lockdown, children’s ministry has continued to meet online, which has been such a blessing to the children as well as their parents.

Even though much of 2021 was marked by lockdowns and social distancing, we did still manage to have one wedding in the UK, this being between Mike and Rachael Bonner. With only 30 people allowed to be in attendance it was a scaled-down affair, but there was a wonderful atmosphere nevertheless.

Kingfisher International Family

2021 has been a year dominated by the COVID-19 Pandemic. This resulted in churches around the world being closed to public meetings and the shift to online services. This was achieved to great effect by the churches in the UK where the technology is readily available, but in other countries such as in Africa, this has proved to be beyond their capability. As such, 2021 has been an extremely difficult year for churches in countries such as India, Malawi, Zimbabwe, the Philippines and Panama, where not only have Christians been unable to join together in worship, but have not been able to work and, therefore, have not received any money.

The churches in Spain provided finances for the church in Macao to put together food parcels for the hungry. They managed to distribute several hundred packages to help feed the poorest of the poor. Similar grants of money were made by the church in the UK to help feed people in Africa and India.

In July 2021 we held our latest International Day of Prayer. This was a powerful and much-needed time of prayer around the world where individual countries prayed for each other. This gave communities who had been isolated due to COVID-19 an all-important sense of togetherness and hope.

Although it was not possible to meet for in-person services in the UK, the decision to shift to online services proved to be very strategic, giving many people around the world the opportunity to watch pre-recorded services online. Rising out of this has been the ongoing recording of talks which are uploaded to our YouTube channel and watched weekly around the world.

The building project in Pantay, the Philippines, that was undertaken in 2019 has now been largely completed. It is open for worship services, has a thriving congregation and has seen a full-time pastor appointed. The next stage to finally complete the building will be the provision of running water, which should be done in 2022.

October saw the launch of the 2021 Harvest Appeal, our most ambitious Harvest Appeal to date. The aim of this Appeal is to build a Rural Community hospital in Malawi to serve those who cannot attend a hospital in the city of Blantyre because of distance and also because of cost. The project was launched with a target of £3000 to buy the bricks needed to build the walls. That target was reached and exceeded, with a total of £13000 being given, thus allowing not only the foundations to be built, but also the walls to be constructed and the roof to be put in place. There is still a long way to go with this project, but this has been a wonderful start. The goal for 2022 is to have this project as the focus for our Harvest 2022 appeal, with a view to raising money for water, electrics, doors and windows.

2021 saw the sad passing away of our National Director in India, Simon Haq, who lost his life in June due to COVID. He was a wonderful and very popular leader in India, having planted many churches and led thousands to the Lord. Many people around the world had been praying for his healing and it was a tremendous shock to everyone when he died. The legacy that he has built in India will continue, as his sister, Shakuntala, has taken on the mantle of leadership and our connection with churches in India has grown and deepened as we have all pulled together for mutual support and comfort in this difficult time. Simon’s online memorial service was a moving and deeply touching time.

This has been a year that has seen thousands of people become Christians in the Kingfisher family around the world. In the wake of Simon Haq’s death, the church in India surged forward and saw great gains. Malawi, Mozambique and Zimbabwe, despite suffering greatly, have experienced wonderful advances. The Leadership centre in Malawi is now receiving pastors from around that country and abroad for training, the children’s outreach ministry in Zimbabwe - the Vainopaishe Foundation – is going from strength to strength, and the church centre in Mozambique is acting as a community centre for displaced and homeless people in Mozambique.

We look forward to a more positive 2022 as restrictions are lifted and hopefully international travel becomes

possible once more.

KINGFISHER CHURCH

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021

Financial review

The outbreak of COVID-19, and the uncertainty that the pandemic brought for employment and support, affected all of our congregations. It is likely that this uncertainty will remain well in to 2022 and financial hardship may well be experienced by many.

Our Reserves policy is that we have an aspiration to build up a reserve for 3 months operations. However, this is managed in light of our faith statement that we must meet needs as they are presented, and donations are often made in light of this immediate need rather than the desire to build up a cash reserve. This year we have continued slowly to build up our reserves despite the COVID restrictions, mainly by once again prioritising key budget expenditure areas that we can pump prime for FY 2022.

As part of our bi-monthly Trustees Meetings, we have reviewed our actual revenue and expenditure against projections and budgets, and revised our cash flow forecasts for the year accordingly. Our expenditure had remained reduced as activities that we funded were stopped, use of the building dropped thus reducing our utilities bills, and, most significantly, we still had access to the Government furlough funding to allow us to retain staff at reduced net expenditure. In June, we revised our forecast in light of the imminent removal of the Government furlough scheme and the re-opening of the churches. This indicated that we would need to review our FY2022 projections to include the return to normal operations with increased expenditure as ministry activities were reestablished.

Throughout the COVID restrictions in the first half of 2021 we continued to provide online activities in line with our charitable objectives and continued to provide financial support to organisations via our tithe out process in line with our stated commitment. As we completed Q4 2021 the charity has a strong balance sheet and cash flow forecast, and we remain financially and operationally viable.

In January, Bev Lloyd stood down from her role as the children’s pre-school ministry leader after 15 years of service. The Trustees decided not to seek to appoint a replacement for Bev but to review the role once we had reopened the churches. The Trustees also reviewed David’s Operations Manager job description to provide clarity to the scope and responsibilities of the job. As a result, the Operations Manager would have 4 distinct roles, with assigned weekly hours to each role. The 4 roles that encompass the Operations Manager job are Treasurer, Administrator, Building Projects Manager, and Media and Communications Lead. In June, David requested to step down from his Administrator role and relinquish the hours, thus moving from full-time to part-time staff. The Trustees decided to advertise the Administrator post as a part-time position utilizing the hours that had been relinquished by David. On 12 July we appointed Fiona Farrington as our new part-time Administrator.

As a result of these changes, the staff numbers for 2021 remained at 7 paid staff, but now comprise just 2 full-time staff (Senior Pastor and Tredworth Pastor) and 5 part-time staff.

The financial giving for 2021 was as follows:

Gross Income: £ 185,114
Expenditure: £(159,108)
Net surplus/ deficit £ 26,006

KINGFISHER CHURCH

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021

Structure, governance and management

Kingfisher Church is an independent church with the stated object of reaching spiritually lost people of all ages and walks of life with the Christian Gospel, and seeing them transformed into fully devoted followers of Jesus Christ. It was constituted by a Deed of Trust on 29 September 1999, with Deeds of Variation dated 8 November 1999, 15 March 2007 and 2 December 2018.

There are two local churches in the UK that come within the charity: Kingfisher Tredworth and Kingfisher Westgate in the centre of Gloucester. Overseeing the churches is a Senior Pastor and each local church has a pastor and elders. Each elder was selected by elders of that local church, this being the method established before the Trustees were appointed. In addition, the Senior Pastor oversees the Kingfisher International ministry with National Directors appointed in Malawi, India and The Philippines, and a Senior Pastor in Spain.

On the recommendation of the Senior Pastor, the Trustees Board invites people to serve as Trustees (up to nine in total) for an indefinite period of time. Trustees are confirmed in their position annually at the January Trustees Meeting (or first meeting of the calendar year). Trustees make staff appointments, agree annual budgets and approve exceptional expenditure items; they also decide upon the dispersal of the church tithe on behalf of the congregation.

The trustees who served during the year and up to the date of signature of the financial statements were: P. Braham

N. Parkinson K. Tucker (Resigned 6 July 2022) S. Seagrave (Resigned 7 January 2022) V Tullett (Appointed 30 September 2021)

The Trustees meet bi-monthly to review the financial position of the church, review and approve any changes to budgets, and to discuss any administrative matters requiring trustee approval. In addition, the Trustees hold halfday workshops during the year; these were introduced to assist in planning and delivering projects around the financial model and staff structure and policies.

The Trustees have assessed the major risks to which the church is exposed and are satisfied that systems are in place to mitigate exposure to the major risks.

The trustees' report was approved by the Board of Trustees.

.............................. N. Parkinson

Trustee

Date: .............................................

KINGFISHER CHURCH

STATEMENT OF TRUSTEES' RESPONSIBILITIES

FOR THE YEAR ENDED 31 DECEMBER 2021

The trustees are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the church and of the incoming resources and application of resources of the church for that year.

In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping sufficient accounting records that disclose with reasonable accuracy at any time the financial position of the church and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the church and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

KINGFISHER CHURCH

INDEPENDENT EXAMINER'S REPORT

TO THE TRUSTEES OF KINGFISHER CHURCH

I report to the trustees on my examination of the financial statements of Kingfisher Church (the church) for the year ended 31 December 2021.

Responsibilities and basis of report

As the trustees of the church you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act).

I report in respect of my examination of the church’s financial statements carried out under section 145 of the 2011 Act. In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

Your attention is drawn to the fact that the charity has prepared financial statements in accordance with 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) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn.

I understand that this has been done in order for financial statements to provide a true and fair view in accordance with Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.

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:

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.

Nicholas J Bishop FCCA ACA

Unit 3 Ambrose House Meteor Court Barnett Way Barnwood Gloucester GL4 3GG

Dated: .........................

KINGFISHER CHURCH

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2021

Unrestricted
Restricted
funds
funds
2021
2021
Notes
£
£
Income from:
Donations and legacies
3
156,801
28,313
Expenditure on:
Charitable activities
4
131,643
27,465
Net incoming resources
before transfers
25,158
848
Gross transfers between
funds
(18,000)
18,000
Net income for the year/
Net movement in funds
7,158
18,848
Fund balances at 1 January
2021
126,326
772
Fund balances at 31
December 2021
133,484
19,620		 Total Unrestricted
Restricted
funds
funds
2021
2020
2020
£
£
£
185,114
167,011
3,535
159,108
123,273
4,960
26,006
43,738
(1,425)
-
-
-
26,006
43,738
(1,425)
127,098
82,588
2,197
153,104
126,326
772		 Total
2020
£
170,546
128,233
42,313
-
42,313
84,785
127,098

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

KINGFISHER CHURCH

BALANCE SHEET

AS AT 31 DECEMBER 2021

Notes
Fixed assets
Tangible assets
7
Current assets
Debtors
8
Cash at bank and in hand
Creditors: amounts falling due within
one year
9
Net current assets
Total assets less current liabilities
Income funds
Restricted funds
10
Unrestricted funds		 2021
£
1,474
73,290
74,764
(4,694)		 £
83,034
70,070
153,104
19,620
133,484
153,104		 2020
£
2,447
46,066
48,513
(4,930)		 £
83,515
43,583
127,098
772
126,326
127,098

The financial statements were approved by the Trustees on .........................

..............................

N. Parkinson

Trustee

KINGFISHER CHURCH

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

1 Accounting policies

Charity information

Kingfisher Church is limited by guarantee.

1.1 Accounting convention

The financial statements have been prepared in accordance with the church's [governing document], the Charities Act 2011 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)". The church is a Public Benefit Entity as defined by FRS 102.

The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.

The financial statements are prepared in sterling, which is the functional currency of the church. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2 Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the church 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 financial statements.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

1.4 Income

Income is recognised when the church is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the church has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the church has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

KINGFISHER CHURCH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021

1 Accounting policies

(Continued)

1.5 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.

Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.

Resources expended are included in the Statement of Financial Activities on an accruals basis and are allocated to the particular activity where the cost relates directly to that activity.

1.6 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Land and buildings 1% straight line Fixtures, fittings & equipment 20% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

1.7 Impairment of fixed assets

At each reporting end date, the church reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.8 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.9 Financial instruments

The church has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the church's balance sheet when the church becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

KINGFISHER CHURCH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021

1 Accounting policies

(Continued)

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the church’s contractual obligations expire or are discharged or cancelled.

1.10 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the church is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

2 Critical accounting estimates and judgements

In the application of the church’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 sources. The estimates and associated assumptions are based on historical experience 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 where the revision affects both current and future periods.

KINGFISHER CHURCH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021

3 Donations and legacies

Unrestricted
Restricted
funds
funds
£
£
Donations and gifts
14,015
27,887
Tithings
99,707
-
Grants - CJRS
23,910
-
Other
19,169
426
156,801
28,313
For the year ended 31 December 2020
167,011
3,535		 Total
2021
£
41,902
99,707
23,910
19,595
185,114		 Total
2020
£
24,415
95,822
24,686
25,623
170,546
170,546

KINGFISHER CHURCH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021

4 Charitable activities

Staff costsDepreciation
2021
2021
£
£
Charitable giving
-
-
Church life
92,849
-
Property costs
-
1,761
Administrative costs
-
-
92,849
1,761
Governance costs
-
-
92,849
1,761
Analysis by fund
Unrestricted funds
92,849
1,761
Restricted funds
-
-
92,849
1,761		 Other
2021
£
19,397
1,540
30,156
11,965
63,058
1,440
64,498
37,033
27,465
64,498		 Total
2021
Staff costsDepreciation
2020
2020
£
£
£
19,397
-
-
94,389
94,366
-
31,917
-
1,629
11,965
-
-
157,668
94,366
1,629
1,440
-
-
159,108
94,366
1,629
131,643
94,366
1,629
27,465
-
-
159,108
94,366
1,629		 Other
2020
£
13,742
438
7,663
9,075
30,918
1,320
32,238
27,278
4,960
32,238		 Total
2020
£
13,742
94,804
9,292
9,075
126,913
1,320
128,233
123,273
4,960
128,233

KINGFISHER CHURCH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021

5 Trustees

During the year under review none of the trustees received any remuneration but two connected persons were remunerated for their key positions within the church. J. Burn was paid £36,000 (2020: £36,000) for his role as Senior Pastor and D. Burn was paid £16,843 (2020: £20,325) for his role as Operations Manager and Treasurer.

6 Employees

Number of employees

The average monthly number of employees during the year was:

Church life
Administrative		 2021
Number
6
1
7		 2020
Number
6
1
7

There were no employees whose annual remuneration was £60,000 or more.

7 Tangible fixed assets

Cost
At 1 January 2021
Additions
At 31 December 2021
Depreciation and impairment
At 1 January 2021
Depreciation charged in the year
At 31 December 2021
Carrying amount
At 31 December 2021
At 31 December 2020		 Land and
buildings
Fixtures,
fittings &
equipment
£
£
101,313
58,739
-
1,280
101,313
60,019
20,260
56,277
1,013
748
21,273
57,025
80,040
2,994
81,053
2,462		 Total
£
160,052
1,280
161,332
76,537
1,761
78,298
83,034
83,515

KINGFISHER CHURCH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021

8
Debtors
Amounts falling due within one year:
Other debtors
Prepayments and accrued income
9
Creditors: amounts falling due within one year
Other creditors
Accruals and deferred income		 2021
£
909
565
1,474
2021
£
2,114
2,580
4,694		 2020
£
1,882
565
2,447
2020
£
2,350
2,580
4,930

KINGFISHER CHURCH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021

10 Restricted funds

The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes:

Movement in funds Movement in funds Movement in funds Movement in funds
Balance at Incoming Resources Balance at Incoming Resources Balance at
1 January resources expended 1 January resources expended 31
2020 2021 December
£ £ £ £ £ £ 2021
£
International Education Project Fund 544 3,535 (3,795) 284 7,005 (6,668) 621
Regeneration Fund 488 - - 488 24,333 (17,792) 7,029
Harvest Appeal 1,165 - (1,165) - 14,975 (3,005) 11,970
2,197 3,535 (4,960) 772 46,313 (27,465) 19,620

KINGFISHER CHURCH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021

11 Analysis of net assets between funds

Analysis of net assets between funds
Unrestricted
funds
Restricted
funds
2021
2021
£
£
Fund balances at 31 December 2021 are represented by:
Tangible assets
83,034
-
Current assets/(liabilities)
70,070
-
153,104
-		 Total
2021
£
83,034
70,070
153,104

KINGFISHER CHURCH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021

12 Related party transactions

During the year under review there have been no related party transactions.