## **ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2023** ## **KING'S CHURCH CENTRE LEWES** ## **(A COMPANY LIMITED BY GUARANTEE) CHARITY REGISTRATION No: 1081337 COMPANY REGISTRATION No: 3986549** Independent Examiners Ltd Unit 2 The Broadbridge Business Centre Delling Lane Bosham West Sussex PO18 8NF 1 ||**KING'S CHURCH CENTRE LEWES**| |---|---| ||**(A COMPANY LIMITED BY GUARANTEE)**| ||**CONTENTS**| |Page 3|Legal and Administrative Information| |Page 4 to 6|Directors' Report| |Page 7|Statement of Financial Activities| |Page 8|Balance Sheet| |Pages 9 to 17|Notes to the Financial Statements| |Page 18|Independent Examiner's Report| 2 ## **KING'S CHURCH CENTRE LEWES (A COMPANY LIMITED BY GUARANTEE)** ## **LEGAL AND ADMINISTRATIVE INFORMATION** **CHARITY NUMBER** 1081337 **COMPANY REGISTRATION NUMBER** 3986549 **DATE OF INCORPORATION** 28th September 2000 **START OF FINANCIAL YEAR** 1st April 2022 **END OF FINANCIAL YEAR** 31st March 2023 **DIRECTORS AT 31ST MARCH 2023** Dr J.E Kay Mrs S.J Lyons Mrs J.E Meggison-Hill Mr C.T Dyer (appointed 4th November 2022) **COMPANY SECRETARY** Mrs J.E Meggison-Hill (resigned 15th November 2022) **GOVERNING DOCUMENT** Memorandum and Articles of Association of Incorporation Dated 28th September 2000. ## **OBJECTS** **i)** To advance the Christian faith by such means as the charity shall determine from time to time. **ii)** To relieve persons who are in condition of need, hardship or distress **iii)** To educate and assist young people through their leisure time activities so as to develop their physical, mental and spiritual capacity. **iv)** To advance education in family life, in marriage and family relationships. **REGISTERED ADDRESS** King's Church Centre Unit 3 Brooks Road Lewes East Sussex BN7 2BY **BANKERS** Barclays Bank Plc The Old Bank High Street Lewes BN7 2JP CAF Cash Ltd Kings Hill West Malling Kent ME19 4TA **INDEPENDENT EXAMINER** Independent Examiners Ltd Unit 2 The Broadbridge Business Centre Delling Lane Bosham West Sussex PO18 8NF 3 ## King’s Church Lewes ## Report of the Directors The Directors present their report and accounts for the period ended 31 March 2023. The accounts have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the charity’s memorandum and articles, applicable law and the requirements of the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2015) - (Charities SORP - FRS102) and the Charities Act 2011. ## **Organisational Structure** The Church is managed on a day to day basis by the Church elders, two of whom are employed full time together with supporting office staff. The elders and staff are overseen by the trustees/directors of the charity. ## **Objectives of the Charity** The charity was established by a charitable trust deed on 5 May 2000. The charity’s objectives are: - To advance the Christian faith by such means as the charity from time to time shall determine - To relieve persons who are in condition of need, hardship or distress - To educate and assist young people through their leisure time activities so as to develop their physical, mental and spiritual capacity - To advance education in family life, in marriage and family relationships ## **Review of Activities** The Church continues to serve the people of the Lewes area in accordance with its aims and objectives. Church membership consists of around 120 adults. There are also about 60 children who attend. It serves the community in a variety of ways: - A weekly club for mothers and toddlers – ‘King’s Tots’ - Explore courses for those seeking to learn more about the Christian faith - Other courses such as: keep fit, art, marriage, finance, parenting and freedom in Christ - Connect groups for the support and care of members - Social action activities which provide a variety of practical support to the local community. These include Transforming Lives for Good (coaching for primary school students at risk of exclusion), Lunch Box (providing food and activities to vulnerable families during some of the school holidays) and hosting the Malling Food Bank. The majority of activities are largely staffed by un-paid volunteers. The Church supports disadvantaged people in other parts of the world. We have ongoing relationships with churches in Albania and provide financial assistance to support various projects throughout the year. The Church is well regarded in the local community for its work with children and young people, and is seeing much greater use of its building by the local community. This year we launched a Community Hub, Warm space centre and Community Café. The Church has continued employing a full-time youth worker. This role has meant co-ordinating the youth work alongside other adult volunteer helpers and events aimed at reaching out to the local community. Provision on a regular basis includes a Sunday morning meeting for the Youth and a regular mid-week Youth Group gathering, as well as many other opportunities for the young people to connect through socialising, activity and leisure. This support has helped to build relationships and community amongst the Youth, encouraging them in the development of their own faith and further develop links with the youth in our community. ## **Financial Review** The Church is funded mainly by the regular giving of its members and has a limited need for reserves and rarely needs to make use of them. Giving by Church members has remained stable even though the economic outlook remains uncertain. The Church membership also supported a one-off gift day to raise funds to continue the employment of its full-time youth worker. Additional revenue was generated by hiring the hall and rooms in the building to individuals, community groups, NHS Trusts, the police, businesses and local government. The financial results for the period are set out in the annexed financial statements. The income was £282,195 with £244,799 expended during the year and capital repayments made of £37,385. The only loans outstanding 4 ## King’s Church Lewes ## Report of the Directors being the mortgage from Santander Bank, which at the end of the year stands at £93,614. The property has a market value of approximately £850,000. ## **Future Plans** The Church’s aim is to provide similar activities to those currently operating. These activities would generally take place in the premises that are owned by the Church and are fitted out for this purpose. The church will continue to promote the charity's objectives as listed above. We are hoping to develop our links with other community groups within the town and provide as much support and care for the local community as we can with the resources we have available. ## **Directors** The directors who served during the year were: Dr J.E Kay Mrs J.E Meggison-Hill Mrs S.J Lyons Mr C.T Dyer The appointment of directors is by the majority vote of the existing officers. On behalf of the directors 5 K114G'S CIIiIROI CEMfRE LEWES (A COMPANV uMrtED BY GUARAfiTEE) REPORT OF THE DIRECTORS {Contlnued) Foli ThE YEAR EIIDÈD 31SY MARCH 2023 Ststernert of Dtr*ctors' Responslblltl¢s: The Ctharities ALt and the Companies Act require the Board of Tnt5tees to p￿pare finanoai statements for eath flnancial yqar which give a true and folr rfew of the #ate of affair5 of Iht cwty as at the end of the flnarKtal year and of the surplus or defttit ot the charity. In prepa￿Th9 thDse finènrial statemenrs the Board 15 required t¢ :. select suitsble polioes ￿ then apply them mr&stentty" make judgements and estirnates that are reasonaue and prudent: b) *lll cOn￿n￿ In b¥wr￿S￿. dl state whether applicable accountirv4 stsndads and Sl*ements of rtcomrneDded practke have been follobye4, sublettto any materièl ￿e￿a￿re$ disdosed aThJ explaffied in statements. The Directors are also rEspOn￿b￿ for maintainirvj &Ye4uatr actounting records which dtsdose with reasonable ac¢uracy at ny tlme the finanaal position of the tharity and %¥hith a￿ suffioertt to show and explain the charfty'5 trdnsèctions and enable them to ensure th& the finJ)cial stèrements cornpfy with the Crynpanie5 Act 2006 and cofflply with regulations made under the Charitle5 Art. They are Sso respon51ble for safeguardiThg the assets of the charity and hence for taknng reasonable steps for the prevention and dettttion of fr•Jd and other irregularibes. Tr* DIrert0￿ are also respon&ble lorthe wTrterbts af the Dirrctorf wEprt and ￿ ￿nsIbil￿ of Ihe independent examiner in relation to the Directors. report is limited to examiniro the report erwriw that. on the face of the report, there are no Inton51stentie5 with the figures disdosed in the financtal staternwt5. rn9lm& l approve the attached st*ement of firb•Kial attivities and balan￿ 5h*t for the year ended 315t Marth 2D23 and confirrn that I have made av**INCOMING RESOURCES**
**Income and Endowments from:**
Donations & Legacies
**3a**
Charitable Activities
**3b**
Investments
**3c**
Other Trading Activities
**3d**
Other Income
**3e**
**TOTAL INCOME**
**RESOURCES EXPENDED**
**Expenditure on:**
Charitable Activities
**4a**
Governance Costs
**4b**
**TOTAL EXPENDITURE**
**NET INCOME/(EXPENDITURE)**
Transfer Between Funds
**5**
**NET MOVEMENT IN FUNDS**
**RECONCILIATION OF FUNDS:**
Total Funds Brought Forward
**TOTAL FUNDS CARRIED FORWARD**|Unrestricted
Designated
Restricted
**TOTAL**
**TOTAL**
Funds
Funds
Funds
**2022/23**
**2021/22**
£
£
£
£
£
232,746
1,408
-
234,154
209,642
2,508
14,617
-
17,125
11,286
-
-
-
-
-
28,147
598
-
28,745
22,719
2,171
-
-
2,171
1,376
**265,572**
**16,623**
**-**
**282,195**
**245,023**
221,062
14,630
-
235,692
212,965
9,107
-
-
9,107
9,193
**230,169**
**14,630**
**-**
**244,799**
**222,158**
**35,403**
**1,993**
**-**
**37,396**
**22,865**
(147)
147
-
-
-
**35,256**
**2,140**
**-**
**37,396**
**22,865**
625,855
4,996
72
630,923
608,058
**661,111**
**7,136**
**72**
**668,319**
**630,923**| |---|---| Movements on all reserves and all recognised gains and losses are shown above. All of the charity's operations are classed as continuing. The notes on pages 9 to 17 form part of these financial statements. 7 KING'S CMUItCH CEirfRE LEWES {A COMPANY LDirrED BY GiIARA14TEE) ALANCE SHEET AS AT 31sr MAIICH 2023 Comwy No: 3986549 VWtri￿ liestr)cred 31-Mar-23 3lthMaTr21 Funds Funds Totttl Tanglble Assets 711606 712,606 7QO.000 Cun*nt Asstts Debtors & Prepayments Cash èt bank and in Hand Totsl Cuvrent Assets 2.905 72 Cr•dltors: due within one year 37,148 37.148 39.556 14.081 14.153 22,120 TOTAL ASSEfs Itss ewr2nt liabih.tses 7Zi12 Lon9 Term Li*bifrtiw: due In more than one year li 58,440 58,440 91,197 NEf ASSErs F￿d$ ofth* c￿rity General Funds Designated Funds Aesbirted F￿d5 661,111 7,136 861,111 7.136 72 625,855 4,996 72 72 Dtre¢wn' Responslbllltles: The charitable taFnpany's finartdal statryrts have beeh prepared in with the prov1s1o￿ applitable to companles subject to the small 0)Mpani￿ regime. The Trustee5 consider that the company is enbued to exemptlon fv¢m the rtovirement to hève an audlt under the provlslons of Sec￿on 477 of the Companies Art 2006 Ilhe Act-} and members have T￿t requlred tt* cutDpany to obtain an audit for the vear In Question in accordance 4Yith sethon 476 of the Att. Howéver. ID aCO)rdance with 5ecb¢>n 145 of the Charibes Act 2011. the accounts have been exarnined by an Independent Examiner whose repc¥t appea5 on page 18. The Trusiees acknowltyjge tt*ir ￿sponSibl1￿￿e$ for comthng with the requirements Df the Art With respect tr accounting records and the pr*paration of finandal statements. Approved by the Dlrettots ¢)n the........... . 2023 Si9ned on their bthalf bv Printed Name.. ## **KING'S CHURCH CENTRE LEWES (A COMPANY LIMITED BY GUARANTEE)** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2023** ## **1. ACCOUNTING POLICIES** ## **Basis of Preparation & Assessment of Going Concern** p p g Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015) - Charities SORP (FRS102)) and incorporating update bulletin 1, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Companies Act 2006. The functional currency of the charity is sterling (£). The charity meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes. Advantage has been taken of Section 396(5) of The Companies Act 2006 to allow the format of the financial statements to be adapted to reflect the special nature of the charity's operation and in order to comply with the requirements of the SORP. The charity has opted to prepare its accounts using natural categories. ## **Changes to accounting estimates** No changes to accounting estimates have occurred in the reporting period ## **Material prior period errors and changes to previous accounts** No material prior period errors have been identified and there have been no changes to the previous financial year accounts. ## **Assessment of Going Concern** Preparation of the accounts is on a going concern basis. The trustees consider that there are no material uncertainties about the Charity’s ability to continue as a going concern. ## **Income** ## **Recognition of Income** These are included in the Statement of Financial Activities (SOFA) when: - the charity becomes entitled to the income; - it is more likely than not that the trustees will receive the resources; and - the monetary value can be measured with sufficient reliability. ## **Offsetting** There has been no offsetting of assets and liabilities, or income and expenses, unless required or permitted by the FRS 102 SORP or FRS 102. ## **Grants and Donations** Grants and donations are only included in the SoFA when the general income recognition criteria are met (5.10 to 5.12 FRS 102 SORP). ## **Tax Reclaims on Donations and Gifts** Gift Aid receivable is included in income when there is a valid declaration from the donor. Any Gift Aid amount recovered on a donation is considered to be part of that gift and is treated as an addition to the same fund as the initial donation unless the donor or the terms of the appeal have specified otherwise. ## **Gifts in Kind** Gifts in kind for use by the charity are included in the SoFA as income from donations when receivable. 9 ## **KING'S CHURCH CENTRE LEWES (A COMPANY LIMITED BY GUARANTEE)** ## **NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST MARCH 2023** ## **1. ACCOUNTING POLICIES (Continued)** ## **Legacies** Legacies are included in the SOFA when receipt is probable, that is, when there has been grant of probate, the executors have established that there are sufficient assets in the estate and any conditions attached to the legacy are either within the control of the charity or have been met. ## **Government Grants** The charity has not received government grants (including those relating to the job retention scheme) in this reporting period. ## **Donated goods** Donated goods are measured at fair value (the amount for which the asset could be exchanged) unless impractical to do so. The cost of any stock of goods donated for distribution to beneficiaries is deemed to be the fair value of those gifts at the time of their receipt and they are recognised on receipt. In the reporting period in which the stocks are distributed, they are recognised as an expense at the carrying amount of the stocks at distribution. Donated goods for resale are measured at fair value on initial recognition, which is the expected proceeds from sale less the expected costs of sale, and recognised in 'Income from other trading activities' with the corresponding stock recognised in the balance sheet. On its sale the value of stock is charged against 'Income from other trading activities' and the proceeds from sale are also recognised as 'Income from other trading activities'. Goods donated for on-going use by the charity are recognised as tangible fixed assets and included in the SoFA as incoming resources when receivable. ## **Donated Services and Facilities** Donated services and facilities are included in the SOFA when received at the value of the gift to the charity provided the value of the gift can be measured reliably. Donated services and facilities that are consumed immediately are recognised as income with an equivalent amount recognised as an expense under the appropriate heading in the SOFA. ## **Volunteer Help** The value of any voluntary help received is not included in the accounts but is described in the Directors' annual report. ## **Income from interest, royalties and dividends** This is included in the accounts when receipt is probable and the amount receivable can be measured reliably. ## **Expenditure and liabilities** ## **Liability Recognition** Liabilities are recognised where it is more likely than not that there is a legal or constructive obligation committing the charity to pay out resources and the amount of the obligation can be measured with reasonable certainty. ## **Governance and Support Costs** Support costs represent the cost of central functions, for example governance costs, payroll administration, information technology. Governance costs are those support costs which relate to public accountability of the charity and its compliance with regulation and good practice. ## **Employee benefits** Short term benefits including holiday pay are recognised as an expense in the period in which the service is received. ## **Redundancy cost** The charity made no redundancy payments during the reporting period. ## **Deferred income** No material item of deferred income has been included in the accounts. 10 ## **KING'S CHURCH CENTRE LEWES (A COMPANY LIMITED BY GUARANTEE)** ## **NOTES TO THE FINANCIAL STATEMENTS (continued)** ## **FOR THE YEAR ENDED 31ST MARCH 2023** ## **1. ACCOUNTING POLICIES (Continued)** ## **Creditors** The charity has creditors which are measured at settlement amounts less any trade discounts. ## **Legal status of the charity** The charity is a company limited by guarantee and has no share capital. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity. ## **Fixed Tangible Assets** Tangible fixed assets for use by the charity, these are capitalised if they can be used for more than one year, and cost at least £1,500. They are valued at cost or, if gifted, at the value to the charity on receipt. ## **Depreciation Expenses** Depreciation is calculated at a rate to write off the cost of tangible fixed assets on a straight line basis over their estimated useful lives. The rates applied per annum is 20%. Land and Buildings are not depreciated because the Church has adopted a policy of non-depreciation as the annual depreciation charge and the accumulated depreciation are immaterial to the financial statements, due to the land and building having a very long remaining useful life of over 50 years, and the currently estimated residual value being high. ## **Debtors** Debtors (including trade debtors and loans receivable) are measured on initial recognition at settlement amount after any trade discounts or amount advanced by the charity. Subsequently, they are measured at the cash or other consideration expected to be received. There has been no change to the accounting policies (valuation rules and methods of accounting) since last year. ## **2. TANGIBLE FIXED ASSETS** |Cost
01-Apr-22
Additions
Cost at
31-Mar-23
Depreciation
01-Apr-22
Charge
Depreciation at
31-Mar-23
Net Book Value
31-Mar-23
Net Book Value
31-Mar-22|Fixtures,
Land &
Building
Fittings &
**2022/23**
Building
Equipment
Equipment
**Total**
£
£
£
£
700,000
48,856
25,354
774,210
-
-
13,917
13,917
700,000
48,856
39,271
788,127
-
48,856
25,354
74,210
-
-
1,311
1,311
-
48,856
26,665
75,521
**700,000**
**-**
**12,606**
**712,606**
**700,000**
**-**
**-**
**700,000**| |---|---| The annual commitments under non-cancelling operating leases and capital commitments are as follows: As at 31st March 2023: On the 9th March 2009, the Charity entered into a capital commitment towards the cost of a secured loan with Stewardship for the acquisition of Land & Building at Unit 3, Brook Road, Lewes, BN7 2BY. The total cost of liability at inception was £400,949, over a 20 year period, with monthly repayments of £2,931. As at 31st March 2023: The Trustees best estimate of the market value of the property is £850,000. 11 ## **KING'S CHURCH CENTRE LEWES** ## **(A COMPANY LIMITED BY GUARANTEE)** ## **NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST MARCH 2023** ## **3. ANALYSIS OF INCOME:** |**Note**
**a) Donations and Legacies**
Gift Aid
Gifts & Donations
ACTS 435 Income
**5**
Grants - Other
Tax Refunds
**b) Charitable Activities**
Activities & Events
**5**
King's Tots
**c) Investments**
Interest Receivable
**d) Other Trading Activities**
Building Hire
**5**
Book Stall
**e) Other Income**
Sundry Income|Unrestricted
Designated
Restricted
**TOTAL**
**TOTAL**
Funds
Funds
Funds
**2022/23**
**2021/22**
£
£
£
£
£
127,637
-
-
127,637
140,702
58,543
-
-
58,543
32,176
-
1,408
-
1,408
-
9,000
-
-
9,000
-
37,566
-
-
37,566
36,764
**232,746**
**1,408**
**-**
**234,154**
**209,642**
-
14,617
-
14,617
9,344
2,508
-
-
2,508
1,942
**2,508**
**14,617**
**-**
**17,125**
**11,286**
-
-
-
-
-
**-**
**-**
**-**
**-**
**-**
28,147
598
-
28,745
22,719
-
-
-
-
-
**28,147**
**598**
**-**
**28,745**
**22,719**
2,171
-
-
2,171
1,376
**2,171**
**-**
**-**
**2,171**
**1,376**| |---|---| 12 ## **KING'S CHURCH CENTRE LEWES (A COMPANY LIMITED BY GUARANTEE)** ## **NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST MARCH 2023** ## **4. ANALYSIS OF EXPENDITURE** |**Note**
**a) Charitable Activities**
Activities & Events
**5**
ACTS 435 Costs
**5**
Book Stall
Brooks Road Running Costs
Cleaning Costs
Conference & Training
Depreciation of Fixed Assets
Equipment Costs
Gifts & Offerings
Hire Costs
I.T Costs
Office Costs
Outreach Costs
Photocopying Costs
Repairs & Maintenance
Salaries & NI
**12**
Set Ups
Staff Expenses
**12**
Sundry Expenses
Telephone Costs
**b) Governance Costs**
Bank, Mortgage & Interest Charges
Insurance Costs
Legal & Professional Fees
Independent Examiners Fees|Unrestricted
Designated
Restricted
**TOTAL**
**TOTAL**
Funds
Funds
Funds
**2022/23**
**2021/22**
£
£
£
£
£
9,108
13,075
-
22,183
18,654
-
1,555
-
1,555
-
-
-
-
-
-
13,333
-
-
13,333
12,128
6,409
-
-
6,409
4,862
464
-
-
464
214
1,311
-
-
1,311
-
956
-
-
956
-
9,951
-
-
9,951
8,009
1,019
-
-
1,019
1,637
3,265
-
-
3,265
6,625
823
-
-
823
495
6,558
-
-
6,558
7,314
993
-
-
993
903
1,250
-
-
1,250
2,724
160,132
-
-
160,132
143,942
503
-
-
503
700
3,360
-
-
3,360
3,198
-
-
-
-
-
1,627
-
-
1,627
1,560
**221,062**
**14,630**
**-**
**235,692**
**212,965**
4,828
-
-
4,828
5,536
1,997
-
-
1,997
1,797
250
-
-
250
-
2,032
-
-
2,032
1,860
**9,107**
**-**
**-**
**9,107**
**9,193**| |---|---| 13 ## **KING'S CHURCH CENTRE LEWES** ## **(A COMPANY LIMITED BY GUARANTEE)** ## **NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST MARCH 2023** ## **5. DESIGNATED FUNDS** |Activities & Events
ACTS 245
Gifts & Donations
Deposit Fund
Activities & Events
Gifts & Donations
Deposit Fund|**Balance**
**Balance**
**01-Apr-22**
Income
Expenditure
Transfer
**31-Mar-23**
£
£
£
£
£
4,567
14,617
13,075
-
6,109
-
1,408
1,555
147
-
71
-
-
-
71
358
598
-
-
956
**4,996**
**16,623**
**14,630**
**147**
**7,136**
**Balance**
**Balance**
**01-Apr-21**
Income
Expenditure
Transfer
**31-Mar-22**
£
£
£
£
£
4,968
7,208
7,609
-
4,567
71
-
-
-
71
-
358
-
-
358
**5,039**
**7,566**
**7,609**
**-**
**4,996**
**PREVIOUS YEAR**
**THIS YEAR**| |---|---| The designated funds are wholly represented by the Charity's cash reserves and are to be expended as specified above. ## **6. RESTRICTED FUNDS** |Pastoral Fund
Pastoral Fund|**Balance**
**Balance**
**01-Apr-22**
Income
Expenditure
Transfer
**31-Mar-23**
£
£
£
£
£
72
-
-
-
72
**72**
**-**
**-**
**-**
**72**
**Balance**
**Balance**
**01-Apr-21**
Income
Expenditure
Transfer
**31-Mar-22**
£
£
£
£
£
72
-
-
-
72
**72**
**-**
**-**
**-**
**72**
**THIS YEAR**
**PREVIOUS YEAR**| |---|---| The Pastoral Fund is operated to help those in need in the fellowship. The restricted fund are wholly represented by the Charity's cash reserves and are to be expended as specified above. 14 ## **KING'S CHURCH CENTRE LEWES** ## **(A COMPANY LIMITED BY GUARANTEE)** ## **NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST MARCH 2023** ## **7. NET ASSETS BETWEEN FUNDS** |Fixed Assets
Net Current Assets
Long Term Liabilities
**8. CASH AT BANK AND IN HAND**
Cash at Bank & in Hand
**9. DEBTORS & PREPAYMENTS**
Tax Recoverable|Unrestricted
Designated
Restricted
**Total**
**Total**
Funds
Funds
Funds
**31-Mar-23**
**31-Mar-22**
£
£
£
£
£
712,606
-
-
712,606
700,000
6,945
7,136
72
14,153
22,120
58,440
-
-
58,440
91,197
**661,111**
**7,136**
**72**
**668,319**
**630,923**
Unrestricted
Designated
Restricted
**31-Mar-23**
**31-Mar-22**
Funds
Funds
Funds
**£**
**£**
£
£
£
48,657
7,136
72
48,657
58,771
**48,657**
**7,136**
**72**
**48,657**
**58,771**
Unrestricted
Designated
Restricted
**31-Mar-23**
**31-Mar-22**
Funds
Funds
Funds
**£**
**£**
£
£
£
2,644
-
-
2,644
2,905
**2,644**
**-**
**-**
**2,644**
**2,905**| |---|---| ## **10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR** |Independent Examiners Fee
Social Security Costs
Stewardship Mortgage|Unrestricted
Designated
Restricted
**31-Mar-23**
**31-Mar-22**
Funds
Funds
Funds
**£**
**£**
£
£
£
1,973
-
-
1,973
1,860
-
-
-
-
2,521
35,175
-
-
35,175
35,175
**37,148**
**-**
**-**
**37,148**
**39,556**| |---|---| ## **11. LONG TERM LIABILITIES: AMOUNTS FALLING DUE IN MORE THAN ONE YEAR** |Stewardship Mortgage|Unrestricted
Designated
Restricted
**31-Mar-23**
**31-Mar-22**
Funds
Funds
Funds
**£**
**£**
£
£
£
58,440
-
-
58,440
91,197
**58,440**
**-**
**-**
**58,440**
**91,197**| |---|---| The Charity has entered into a capital commitment towards the cost of a secured loan with Stewardship for the acquisition of Land & Building at Unit 3, Brook Road, Lewes, BN7 2BY. The total cost of liability at inception was £400,949, over a 20 year period from 2009, with monthly repayments currently set as £3,593. The Stewardship loan currently stands at £93,614 as at 31st March 2023. 15 ## **KING'S CHURCH CENTRE LEWES** ## **(A COMPANY LIMITED BY GUARANTEE)** ## **NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST MARCH 2023** ## **12. STAFF COSTS AND NUMBERS** |Gross Wages and Salaries
Accomodation Allowance
Employer's National Insurance Costs
Employer's Annual Allowance
Employer's Pension Contributions
Employer's Income Protection Contributions|**2022/23**
**£**
123,081
22,508
11,538
(5,000)
7,084
920
**160,132**|**2021/22**
**£**
109,227
21,881
9,396
(4,000)
6,748
690
**143,942**| |---|---|---| The Charity offers a government backed workplace pension scheme to all eligible employees. The Charity pays employer contributions on behalf of two employees. The total amount paid in 2022/23 was £1,089 (2021/22: £812). The Charity also pays contributions to a private pension on behalf of two employees. The total amount paid in 2022/23 was £5,996 (2021/22: £5,936). Number of employees who were engaged in each of the following activities: |Activities in furtherance of organisation's objects
Management and administration|**2022/23**
TOTAL
3
2
**5**|**2021/22**
TOTAL
3
2
**5**| |---|---|---| The Charity operates a PAYE scheme to pay all employed members of staff and no employees received emoluments in excess £60,000. (2021/22: None) The following expenses were paid to three staff members, which were incurred whilst furthering the charitables aims of the charity: |Expenses (mileage, travel, books, telephone)
Hospitality
Other|2022/23
2021/22
£
£
2,348
2,177
912
971
100
50
3,360
3,198| |---|---| The key management personnel of the charity comprise the Directors and Church Elders. The Directors are not remunerated. The total employee benefits paid (including employer national insurance, private pension contributions, income protection contributions and provision of accommodation) of the other key management personnel of the charity was £103,702 (2021/22: £98,741). ## **13. RECONCILIATION OF MOVEMENT ON CAPITAL AND RESERVES** The Company is Limited by Guarantee and is a Charity registered with the Charity Commission number 1081337 and is not therefore subject to Corporation Tax and does not have a Share capital. |**Note**
Profit / Deficit for the financial year
Other Recognised Gains
Balance Brought Forward
Closing Funds at 31st March|**2022/23**
**£**
37,396
-
**37,396**
630,923
**668,319**|**2021/22**
**£**
22,865
-
**22,865**
608,058
**630,923**| |---|---|---| 16 ## **KING'S CHURCH CENTRE LEWES (A COMPANY LIMITED BY GUARANTEE)** ## **NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST MARCH 2023** ## **14. DIRECTORS AND RELATED PARTY TRANSACTIONS** No payments were made to directors or any persons connected with them during this financial period. No material transaction took place between the charity and a trustee or any person connected with them. ## **15. RISK ASSESSMENT** The directors actively review the major risks which the charity faces on a regular basis and believe that maintaining the free reserves stated, combined with the annual review of the controls over key financial systems carried out on an annual basis will provide sufficient resources in the event of adverse conditions. The directors have also examined other operational and business risks which they face and confirm that they have established systems to mitigate the significant risks. ## **16. RESERVES POLICY** The directors have considered the level of reserves they wish to retain, appropriate to the charity's needs. This is based on the charity's size and the level of financial commitments held. The directors aim to ensure the charity will be able to continue to fulfil its charitable objectives even if there is a temporary shortfall in income or unexpected expenditure. The directors will endeavour not to set aside funds unnecessarily. ## **17. PUBLIC BENEFIT** The charity acknowledges its requirement to demonstrate clearly that it must have charitable purposes or ‘aims’ that are for the public benefit. Details of how the charity has achieved this are provided in the Trustees report. The Trustees confirm that they have paid due regard to the Charity Commission guidance on public benefit before deciding what activities the charity should undertake. 17 ## **INDEPENDENT EXAMINER’S REPORT ON THE ACCOUNTS** I report to the trustees on my examination of the accounts of the above charity for the year ended 31st March 2023. ## **Responsibilties and basis of report** As the charity’s trustees of the charitable company (who are also the directors of the company for the purposes of company law), you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (“the 2006 Act”). Having satisfied myself that the accounts of the charitable company are not required to be audited for this year under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity’s accounts as carried out under section 145 of the Charities Act 2011 (“the 2011 Act”). In carrying out my examination, I have followed the Directions given by the Charity Commission (under section 145(5)(b) of the 2011 Act. ## **Independent examiner's statement** I have completed my examination. I confirm that no material matters have come to my attention which gives me cause to believe that: - accounting records were not kept in accordance with section 386 of the Companies Act 2006; or - the accounts do not accord with such records; or • the accounts do not comply with relevant accounting requirements under section 396 of the Companies Act 2006 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; or - the accounts have not been prepared in accordance with the Charities SORP (FRS102). 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 accounts to be reached. Signed Name J Irvine-Smith FCIE Date: 5th September 2023 Independent Examiners Ltd Unit 2 the Broadbridge Business Centre Delling Lane Bosham West Sussex PO18 8NF 18