Reports & Financial statements For the year ended 31 August 2022 King's Church London Company Reglslrollon Numb•r. Charlty Reglslrallon Number: 4074651 1082666 Cont•nts Trustees. Report Indèpfrndont Audltorf8 Report Statem•nt of Flnanclal Actlvlll•• Balance Sheet Statement ol Cash Flow8 Notes to the Flnanclal Statemènts 1-18 19-22 23 24 25 2645 King's Church London Trustees, report For the year ended 31 August 2022 The Trustees, who ocl as direclors for Ihe purposes of compony law, present their annual report and Ihe audiled financial stalemenls of King's Church London I'the Charily'l for the 12 months from I September 2021 to 31 August 20221'the year'}. REFERENCE AND ADMINISTRATION INFORMATION Charlty name Company Teglslrallon Numb Charlty reglstrallon Number Truslees Kings Church London 4074651 1082666 Simon Linley Odunayo Oyabayo William Dalziel Osberl Klass Roberta Wolker Kwaku Osofo Secrelary Reglslered offlce Nigel Mumford King's Church 21 Meadowcourt Road Lee London SE3 9DU Sollcltors Wellers Tenison House Tweedy Rood Bromley Kenl BRI 3NF Bankers HSBC Bank plc 149 Rushey Green Calford London SE6 4BQ Audltors Mozars LLP 6 Sutlon Plaza Sulton Court Road Sulton Surrey SMI 4FS King's Church London Trustees, report For the year ended 31 August 2022 I. STRUCTURE. GOVERNANCE AND MANAGEMENT l. I Structure The charity is an incorporated chority limited by guorantee.11 was incorporated on 20 September 2C()O ond registered as o charily on 28 September 21X)O. King's Church London is a diverse Christian church bosed in Soulh-East London.11 is part of the Newfrontiers family of churches os well as being o parl of the Baptisl Union and the Evangelical Alliance. 1.2 Governance The Tru51ees of King's Church London have overall legal and financial responsibility for Ihe charity. They have delegaled responsibility for the spiritual and strategic direction of the church as well as its day to day running lo a leam of Elders including the Senior Paslor. The Trustees are regularly apprised of the financial position of the charily ond al their formal meetings discuss and review any major changes in the direction of the charily or on policy issues as Ihey evolve and develop. Trustees are selected by exisling Truslees. in consullotion with the Elders. They are responsible people who demonstrole a strong Christian faith. They are those with a particular area of expertise I business ocvmen in Iheir secular workplace which is relevant in overseeing a significant charity which is olso a Christian church. When appointing new Truslees of the charily they are first invited to attend existing Trustees meelings to understand how the charity operates. Where appropriate they also altend formal training days and conferences which are laken by external companies with specialist experience in njnning a charity. Exisling Trustees will olso attend organised Iraining from time to time to refresh their knowledge and skills as well as learning informally Irom one another. their own external networks and the Company Secrelary. The Eldership meets regularly lo discuss and oversee the affairs of the church. They work with the olher full and part lime members of staff and a wide range of volunteers lo implement the vision. volues and objecls of Ihe charity. In addilion lo this there is a Management Team of five. led by Slephen Tibbert, the Senior Pastor who coordinale Ihe day-to-day aclivities of the church on behalf of the Trustees and Eldership. Trustees and Elders are conlinuing discussions on ways of broadening and diversifying the leadership of the charity so thol il reflecls in some measure the diversily of church membership. This has been fulfilled in part but there is still more work to be done. The charity has six Truslees and five Elders. King's Church London Trustees. report For the year ended 31 August 2022 1.3 Risk Management Truslees have recognised Ihe importance of assessing ond managing risk associated wilh the charity's objectives. The process of identifying risk is on-going and is an essential parl ol the work of the Trustee5 ond Managemenl Team. The chority has a set of policy and procedure documents in place lo ensure on-going identification and management of foreseeable iisks. These documenls will be regulorfy reviewed lo ensure that they continue to meet the needs of the organisotion. Those relating lo the operations and finances of the charity are of particular importance and o risk register has been developed based on a risk assessment procedure in line with Charily Commission guidance. 1.4 other Pollcles and procedures The board of Trustees have an eslablished cyclical rhythm of review in regard to the key policies of the charily. These include safeguarding, Heallh & Safely, Risk Management. delegaled authority, property management. GDPR, HR and remuneralion. In specific relation lo remuneration, we have considered the five recommendations of the 'Reporl of Inquiry into Chority SenioT Executive Pay and Guidance for Truslees on Setling Remuneralion" published in April 2014. and endorsed by Ihe Charities Commission, and sought to implement Ihe5e as appropriale to our siluation. All policies and procedures are under regular review to ensure best practice and compliance not just for staff but for all those who toke part in the community life of, and/or visit the church. King's Church London Trustees, ieport For the year ended 31 August 2022 2. AIMS AND OBJECTIVES The main objectives of King's Church London as stated in the Trust Deed are Ihe "advancement of Ihe Christian Failh" 2.1 Vlslon l Mlsslon Around 25 years ago King'5 Church experienced a 'defining moment, when Steve Tibbert. who leads the church, shared with a congregation of 2CNJ or so. meeting in a rather run-down building. a vision port of which was a call from God to build a one thousand member church. In January 2012 Ihere was o similar 'defining moment, by which time Sunday ollendance had grown to over1200 across 3 well equipped modern buildings, as Steve again shared with Ihe Church o 'word for now, lifting the church's eyes to the possibility of a church wheie 5,WO people atlend eoch Sunday, a vision "Ihat is one worth giving our lives lo seeing fulfilled" In September 2018, with Sunday atlendance overaging almosl 1.5CQ, we launched Vision 2030 which is our vision for King's Church in the years lowards 2030. At this time, and as part of the ovlworking of Vision 2030, we also launched another site in Beckenham making King's a church of four siles. Vision 2030 is based around Ihree key Ihemes of Reach, Resource and Restore, each of these worked out under Iwo differenl headings. Reach Come and See" We believe we are called to build a church of 5.000 believers. each of Ihem known by Jesus and precious to Him. We will continue to encourage everyone at King's to invite friends, family and neighbours to Sunday meelings, especially al key momenls such as Christmas and Easter. Hundreds of people have already visited King's in direct response to an invilalion to "come and see" Jesus for themselves,. for many this has been Ihe first step in their own journey to failh. King's Church London Trustees, report For the year ended 31 August 2022 "Go and Tell" We want each of us al King's to ploy our parl in fulfilling Jesus, Great Commission to His church: to 'go and make disciples of all nations" We believe this is a call to the many not the fewl With that in mind. we wll seek to equip every believer to be able to share their faith. We will encourage people to reach out in their communilies. families and workplaces. lo initiale olher oulreach activities, and to take every opportunity lo invile people lo "come and see" We olso believe we should be involved in spreading the Gospel not just in London and the UK, but in the nations beyond. King's and 115 members already have links Wlth churches in olher nations, including Romanio. South Africa ond Zimbabwe. Restore 'Inside" Over the years, King's has seen thousands of people who have come through our doors experience healing and iestoralion. Many hove come lo faith here, and as we have grown as disciples, we have had our lives radically transformed by meeting Jesus in the midst of His people. We want this to mvlliply and to deepen in the future. There are a number of ways we currenlly express the Gospel that have been particularly powerful in seeing lives change. Obviously, this includes our Sunday meelings, but also seltings like Alpha, our groups. and courses such as The Moffiage Course, Restored Lives Ilor anyone separated or divorced) and Freedom in Chrisl. We wanl lo extend and develop Ihese to help bring resloration in new areas, for example parenting, helping people find freedom from various addiclions, and other courses. "Outside" We are continuing lo contribute lowards resloration in our local community through the Jericho Road Project. However, we want lo brooden what we do in the local community so Ihal our work is not only amongsl the most disadvanlaged. as vitol as that is, but affecls other sections of society as well. Some of Ihese projects will be initialed. financed and overseen Ihrough Ihe leadership of the church, whether they are expressed al all sites or onty one sile. This wll include working with young people on the margins of society who are endangered by the threal of serious youth violence. We wll partner wilh charilies Ihat have particular expert15e. Such as Ihe mentoring scheme for children lun by Transforming Lives foi Good. King's Church London Trustees, report For the year ended 31 Augusl 2022 In addition, we hope to see many "mini restore projects" develop. led by individuals from King's, supported by their group in order to serve bolh King's and our local communily. Resource Nationally We believe King's hos an importanl role to play in the UK. Some of this comes from the fact Ihal we are o large. mvlli-sile. urbon and diverse church, and we can therefore help other churches with our example ond our experience (even as we continue to learn ourselvesll. Our resources such os Sunday leaching. material for groups, courses. articles, books, videos and the like already have a wide reoch, and we hope that this will increase. We also have a part to ploy in the wider Newfronliers family we are parl of. This includes the leadership given by Steve Tibbert. our Senior Pastor. ond the theological influence of Andrew Wilson. our Teaching Paslor. Beyond Ihis it also inclvde5 coaching pastors. hosting conferences. Iraining interns, providing financial support. sharing best practice, strengthening churches, and so on. Globally The Gospel crosses inlernalionol boundories, and $0 does our responsibility as a church. Again, some of the ways in which we work this oul will be very specific. The Newfronliers family connects us with 2,OW churches woddwide, and we will serve many of them with practical, theological. financial and leadership resources. We continue lo have a close relalionship wilh River of Life Church in Harare and Ihe Ebenezer Project. We have a number of things in common wilh the church- size. influence, urban context, diversily, apostolic base and a focus on mercy ministry among the poor. steve Tibbert, our Senior Pastor was asked lo facilitate the global fellowship of the Newfronliers family of churches. This took effect from autumn 2020 and is an encouraging confirmation of our call beyond the UK. We believe our calling is not just to the UK. or even our family of churches, but lo Ihe nations, and Ihe commission Jesus gave His church to go inlo all the world and make disciples. At times Ihis will mean sending missionaries, teachers, money and skills overseas, without losing sight of our local church in London. King's Church London Trustees, report For the year ended 31 August 2022 2.2 Values The Truslees and Elders have soughl lo work oul how besl fo express the Mission and Vision Stalements in the contexl of week lo week church aclivilies. values and life. Al Ihe same time they wanted to produce such slalements in a form Ihal would, if possible. provide an appropriale way lo express the finoncial affairs of the chority. The following Ihree value statements aim to summarise what the charity is about. namely: to promole and encourage our members to live a life of Worship lo God,. lo build a mulli-cullural Community of believers who are mature in their faith and who will be a blessing to the wider community in which they live and work., to encourage members lo be involved in Outreach to those who have not yet accepted Jesus os Iheir Lord and Saviour with the message of reconcilialion; lo demonstrate the love of God through helping the disadvonlaged; and through the planting of new churche5. These three headings Worship. Community and Oulreach are used as main headings for summarising the activities of Ihe chorily ond thus its financial reporting procedures and accounts. 2.3 Volunteers The Truslees would like to continue lo ocknowledge and Ihank the many people within King's who freely give of their lime and make all Ihal we achieve together possible. We cannot attempt to place a value on Ihe immensely significant contribution thal our volunteers make, and we are grateful lo them for their lime and commilmenl to our Mission and Vision. Clearly this hos been diflicult across the period of the pandemic yet the volunteers continued lo be a crucial parl of all Ihal we do. 2.4 Publlc Beneflt The Trustees are aware of Iheir duly and seek to identify in both the report and accounts their regard to the Chaiilies Act 2011 on Public Benefit. 11 is in fact a central part of our vision. that we provide supporl, encouragement and practical help for those disadvantaged in our local communities as well as olher members of the community, not jusl our members. King's Church London Truslees, report For the year ended 31 August 2022 3. ACTIVITIES, OUTPUTS AND IMPACTS The Covid-19 pandemic. porticularly over the first half of this year has continued to have an impact upon us both as we conlinue lo meel and funclion as a church and as a staff team. We have continued lo focus on the regothering and rebuilding of the church. Whi15t the online services have been a great help lo us in serving our community we firmly believe that church is worked out primarily through the gathering of believers meeting together. So we have continued with our online seTvices but have been encouraging people lo re- join us in person at one of our siles when they are ready to do so. Throughoul the whole yeor we hove relained a mixture of Sunday services and groups meeting both in person and online os required. As stated last year bolh the church and Ihe slaff team have done exceedingly well across such o challenging and uncertain lime. However. Ihere is no doubt that this has had an impact on everyone. We are working with the stoff team and are offering a number of wellbeing initiatives lo help wilh this. It hos also been a time when a number ol staff have reconsidered their position and in our own staff leam. os across the whole UK workforce, we have seen a number of staffing changes with some moving on as well as others joining the team. In what follows we summarise how the church seeks lo implement ils vision, values and objeclives on a week-by-week basis, and the result of activities in each area. This reporl as well as reporting the statistics thal relate to the On￿oing work and growth of the charity, also seeks lo give examples and testimonies of where lives ore different due to the aclivilies of the charity thereby demonstrating its commitmenl lo Public Benefit, and Ihe impact it is having amongsl its members, in the local community and beyond. 3.1 Worshlp Worship is the thrust of our Sunday meetings where. Ihrough singing, prayer and leaching that 15 relevanl to people's lives today. we encourage people who call King's their local church. to live a life of worship to God. The meetings olso provide a context for individuals to share personal teslimony, respond lo the claims of the Chrislian foilh and for adult baptism. Prior lo the Covid-19 pandemic we were holding seven morning meetings. three at our Catford site. two at our Downhom sile and one each at our Lee and Beckenham sites. Attendance had increased wlh us regularly hoving around I6￿ people presenl on a Sunday. At Ihe start of Ihe pandemic we changed our focus to allow us to provide online Sunday services, which are accessible via our websile. King's Church London Trustees, report For the year ended 31 August 2022 These were well 'altended' with an eslimated 2000-25CII people on a Sunday with additional people viewing the service across Ihe following week. This reflecls Ihe fact thal there is a strong core of Ihe church who conlinue lo altend online, along with Ihe extensive reach thal we have as a church. The provision of o dual platform of services enabled the church lo continue to "meef" and worship logelher as oppropriate. However we are now running our full schedule of six morning meetings again with very encouraging signs that people are keen to meet together in person again. There is children's work for age$ 1>4. &8 and 9-10 and youth work for ages 11-14 and 15- 18. This continues to flourish. We enjoy sharing the truth of the Bible wilh Ihe children through fun games, worship. bible leaching and looking at the bible as well as completing crafl acfivilies each week. We work hard at developing our team5 and our team leaders. In each of Ihe children's work areas we follow bright and varied curriculums which are age appropriate. We are enjoying seeing these brought to life by leaders crealively communicating them to the children. Our children's work 15 Structured lo gel the best from our children and help parents feel comforlable leaving their children in our care as Ihey feel confidenl their child is being well cared for, As port of a ministry for the Deaf community at King's each week we interpret the worship and leaching into BSL. This recenlly moved from Catford lo the 10'.30 meeling at the Lee Site. In addition to this they have their own monthly meeting also based at the Lee sile. We have continued fo ensure thal there are specific online services with BSL interpretation as we continue to supporl this community. The needs of the disadvanlaged in sociely are a￿ayS a challenge and so we continue to work hard lo serve our deaf community. King's Church London Trustees, report For the year ended 31 August 2022 3.2 Commvnlty Community life is worked out in a number of ways ol King's Church. 3.2.1 The Group system. This is an opportunity for individuals from the diverse bockgrounds who call King's their local church lo meet together. often in homes. but also at our sites. We encourage people to develop friendship and work out their Christian faith, not jusl in discussion but in act and deed. Some of the groups wll have a more specific reason for meeting together such as, the Wednesday Welcome meeling ond lunch for the elderly in our community, and the BSL small group where deaf and hearing come together. We now have a mix of groups- some online and some in person which has helped people stay connected and part of a smaller communily. We put a lot of work into launching and promoting these groups as a result of our commilment to 'group life, within the church. The results of this continue lo be extremely encouraging with oround 800 adults signed up for groups each week. We have an established youth work wilh around 40 1 I s-18s attending each week, this runs al both the Calford and Lee siles. We also have a Ihriving 18's-30'5 work colled United. This regularly galhers around 60 people on a weekly basis across the Calford. Downham and Lee sites. Where necessary both of these activilies have been meeling online when unable to meet in person. All of our sites have a number of Groups where people con meet regularly. These groups serve many purposes including helping those altending the church to get to know one another and for regular friendship and encouragement. 3.2.2 A wlde ronge ol seprflng opportunllles There are many opportunities which allow most of the congregalion lo have some involvemenl in expressing their Chrislian faith praclicolly as they work together and serve olhers. This might be through being a port of the Welcome Team serving on a Sunday at one of our sites, working on an Alpha leam. as parl ol the Feast team, helping those who are less forlunale amongsl vs. Or perhaps as a part of the Worship group on a Sunday or working with ID on a Friday night where the I 110 18 age range meet in a relaxed almosphere to support the needs of young people as they malure into tomorrow's adult population. 10 King's Church London Trustees. report For the year ended 31 August 2022 3.2.3 Courses, Seminars and Tralnlng opportunities We have found thal more and more people like lo be part of our community by joining and laking part in short lerm courses and seminars. 'Freedom in Christ, is a discipleship course for Chrislians lasting 9 weeks which we run once a year when able to do so. The course lays a biblical foundolion for Christians aboul their identity in Christ and how thal should affect Iheir thinking, how they handle their emotions as well as their spiritual life. There is also teaching which aims to help Ihem process past hurtful events, forgive and receive emotional healing. There are other courses which are run when we are able lo do so, these aim to help people to grow in God and equip them to make good life choices, for example.. The Morrlage Course- an annual course which helps to enrich people's marriages. This course is deliberately kept to a small number of couples to make il manageable and personal. Restored Llves - a divorce recovery group we run once a year which also serves the wider communily. Relallonshlp Mallers which helps people build slrong relationships and prepare for marriage. stewardshlp- an annval seminar about handling money wisely as well as running the CAP money course la praclical course on budgeting ond managing your moneyl and the Financial Freedom Course which helps people wilh next steps of planning, saving and investing for their future. Leadershlp Tralnlng- we provide a number of opportunities which help people fulfil their potential and thereby also help Ihe church grow and expand. Membershlp Mornlngs-we encourage people lo become members of the church and we facilitate this by hosting sessions which explain our vision and values as well as whal it means to be a member of King's Church. King's Church London Trustees, report For the year ended 31 August 2022 3.3 Outreach Whilst Ihere are aspects of worship and commvnily that relate to reaching out lo others, there are a number of aclivilies where Ihis is specifically focused. 3.3.I The Alpha Course Alpha has been running ot King's every lerm for over 25 years. During that period over 36CQ people have attended and al leas1 860 people have responded lo the Gospel. From Seplember 202110 August 2022 we ran four Alpha courses wilh I I I people altending, and we estimate thal 10 people came to Christ. A significanl number of people who had already responded lo the Gospel began attending our online services land in-person where available), joining groups and serving teams. Alpha hos provided a context for people to recommit their lives lo Chrisl and lo receive leaching obout Ihe work of the Holy Spirit. We also ran Ihree New Life courses with 12 people attending. The New Life discipleship course is a follow-up course after Alpha. As a result of that course and also Alpha a number of Ihose people have made the decision to be baptised. Since the Covid restTlCtions have eased somewhat we have reintroduced baptism and are now baptising those that have had lo wail for some lime due to the pandemic, 3.3.2 The Jerlcho Road Project The Jericho Road Projecl IJRPI seeks to provide support lo the disadvantaged in Lewisham and Greenwich. Much of our work goes into the on-going running of six low support housing unils which allow us lo help 28 individuals from rough sleeping and homeless backgrounds. Every resident compleles o suppoil plan and meels regularly wilh o key worker to ensure progress is being made. The demand for places on Ihe housing project is very high and we receive referrals from a wide range of services in South-East London. During this period we have continued to respond to the Covid pandemic by supporting our residents, parliculorly wilh Iheir own wellbeing. There continues to be menlol health challenges for a number of them. Following a reduction of 'move-on's' for our residenls during the pandemic this last year we have now returned lo pre-pandemic levels of move on's. And we are well set for this to continue in the future. 12 King's Church London Trustees, report For the yeai ended 31 August 2022 We have run "The Feast" a weekly drop-ln for anyorle who is rough sleeping, homeless, vulnerable or lonely since January 2CK)2. In the losl year Ihe Feasl has returned to providing an in-person provision. Numbers have not relurned to pre-pondemic level which reflects a borough wde reduction in rough sleeping and also a desire lo adjust the services we offer. We have run a successful Alpha course alongside the Feast. We olso slarted a 'Thursday mornlng diop In" between 10-12. This allows us to offer very specific access to advice workers al the Catlord site for our conlacts and local neighbours. Praclically this means we have a DWP worker. a drug and alcohol supporl worker from CGL Lewisham plus a general advice worker from Thames Reoch in the building every week. Another key initialive for the JRP has been the Blg Red Box projecl which continued to provide a posl pandemic response. We continued lo ofler a pick up from our building service on Thursday mornings as well as deliveries for those who were unable lo access our buildings. This project came to an end in July 2022. The Jericho Road Project continues to play a significant role in reducing rough sleeping in Ihe borough and our stall lake parl in the bi-monlhly Lewsham borough street counts. The Lewisham Homeless Forum is hosted ot the Catford site. This has been a year Ihol the JRP has pivoled lo provide more direct care for people in need. Our three words Relief, Hope and Connection continue to define all thal we do. Relief is our fronl-line work- providing hol and cold food as well as housing. Hope is found though our support of individuals in our housing project and conlacls from Ihe Feast particularly around odvice. And finally. Connection is the wider support provided to residents when they move on into independent living. We are delighted thol we have been able lo continue being o significanl support and help to those who are disadvantoged and vulnerable in our locol community. 3.3.3 Tralnlng and olher Involvemenl wlthln Newlrontlers Through hosting events, leadership and theological training we continue lo be a resource for Ihe benefil of Kings, other local churches and churches in the Newfrontiers family. We also continue to be involved inlernalionally. supporting ministries in India and Romania as well as our continued involvemenl with. and support of, projecls in Zimbabwe. 13 King's Church London Trustees, report For the year ended 31 August 2022 4. ACHIEVEMENTS AND PROGRESS DURING THE PERIOD As slaled earlier in Ihis reporl the Covid pandemic has continued lo have an impact on the running of the church, bolh for the stolf and those who call King's Church their home church. This was particularly Ihe case ocross the first half of the year until reslriclions eased and community confidence returned. Through the varying stages of Ihe pandemic, we have had to adapt the way we work in every area of church life with us gradually reinlroducing activitie5 and ways of working that were there prior to the pandemic. The staff team adapted extremely well to all of the changes both in terms of handling the changes lo the ways in which we 'meet' as a church ond the different way of working. We are still maintaining the option of hybrid working with people working both in the offices and at home. With the Inlernationol Academy of Greenwich completing their lease at the very end of the last period we have had lo carry out quile a large projecl of work lo relurn the orea they used back to a position where we can use it for church purposes, We have again continued lo cary out works across all of our siles to ensure their ongoing maintenance and suilabilily for all that we ore trying lo achieve. The triple effect of Covid. the results of Brexil and Ihe war in Ukraine has all led to much uncertainly, particularly financially both in the UK and abroad, so we continue to review the aclivities of the church in Ihe light of this. The Jericho Road Project continued lo do an excellent job in helping to meet the needs of the more vulnerable in bolh Ihe church and our local community. Wilh the pondemic now in a far better place ond with us needing to leam to 'live with Covid, we ore encouraged, ond are looking fotword lo another year of pressing on as a church a5 we conlinue to seek to meet the needs of Ihose who call King's their home church and Ihe communily oround us. King's Church London Trustees, report For the year ended 31 August 2022 5. FINANCIAL REVIEW 5.1 Overvlew The year ended 31 Augusl 2022 had a deficit of income over expenditure and the result has been deducted from the General Fund. The outlook is for a return lo surpluses. The parliculor strength of Ihe financial activities remains Ihe consistency in giving income. The letting of surplus space lo a school has come to an end; the current plans are to now ulilise this space for the purposes of Ihe church. The choiily retains a slrong balance sheel. At the end of the year, il had a strong osset base compared to it5 long-lerm liabilities and strong liquidity with substonlial cash holdings. 5.2 Prlnclpal fundlng sources King's relies very largely on the generosily of its congregotion to fund its oclivities. The total of given income was £2,102,134 which has held steady compared to £2,056,463 for the previous year. 5.3 Related parttes King's Church London is parf of the family of churches known as Newlronliers. Newfronliers is a network of churches who parlner togelher on a mission. steve Tibberl, the Senior Pastor, continues to be a member of the inlernational apostolic gathering of Newfrontiers and conlinues as a Director of Ihe Newfronliers charily. He receives no remuneration from Newfronliers. Transactions with relaled parties are detailed in note 9 of the financial statements, 5.4 Investment powers and pollcy The Trustees take appropriate advice relaled to investment as and when required in order to maximise the effeclive stewardship of our income and our reserves. This may include keeping funds above our immediale needs placed on the money market to earn a rale of inlerest as and when it is appropriale to do so. 15 King's Church London Trustees, report For the year ended 31 August 2022 5.5 Reserrfes pollcy The balances in the General Fund and Designated Propeity Fund represent Ihe unrestricled funds arising from the past operotions of the charity. The Trustees believe that an amount equivalenl to a minimum of Iwo lo three months gross expenditure is kept in reserve. In addilion, funds are needed for use as working capital which provides for regular fluctuations in income and expendilure throughout the year. Income and expendilure budgels and forecasts are produced on a rolling five-year basis and these are reviewed monthly. The expenditure budget for all funds for Ihe 2022123 year is approximolely £2.300,CKQ. Based on Ihe above, an ongoing reserve of between £380,000 and £580,OCQ is appropriate. The balance on the General Fund at 31 Augvst 2022 was £470,984 wilh Free Reserves of £466.811. Thus currently, reserves ale in the middle of Ihe required range. 5.6 Reslrfcled Funds Restricted Funds are given for restricted purposes and are set aside for specific projects af the request of the donor. The Iwo main operalive Reslricled Funds are social action work (the Jericho Road Project) and Vision 2030. The Jericho Road Project showed o small surplus of £752 for the year. The purpose of the Vision 2030 fund is lo help ministry expansion on our exisling sites and the development of more sites in the future. The consistent giving into this fund has firstly enabled the charity to fulfil its loan repayment schedule lo our funding partner, Triodos Bank, and secondly to fund further development. There has been initial expenditure on professional fee5 in respect of furlher developmenl planned for the Catford sile. This was put on hold al the lime of Ihe coronovirus pandemic as a measure to prolect our reserves and can be reinstated when appropriote. In other Restricted Funds, Ihe restricted fund opened at the start of the pandemic, the Hope Fund, continued lo offer support and relief to those locally and intemationally who are severely affected by coronavirus or other crisis needs. The Hope Fund had external donations of £18,271 in the year and al the yeor-end a bolance of £24,237 remained to be disbursed. A further fund was opened during Ihe year lo receive and disburse funds for Ukraine. 5.7 Granl-maklng policy Donalions are made to both inslitulions and individuals by Ihe charily, a5 part of achieving ils aclivilies and objectives. Gifts to individuals represent responses to particular needs and support for those working overseas. 16 King's Church London Tru5tees' report For the year ended 31 August 2022 6. PLANS FOR FUTURE PERIODS As the Covid pandemic begon lo ease through Ihi5 period the Charity continued to review capital expendilure. new staffing and general operating cosls. Our aim would be for the full re-opening and re-galhering of our church at all of our premises and for our staff team lo return to the offices. We have continued lo protect a very slrong reserve base now and going fo￿ard. This enables the church lo maintain consistent operational delivery. Currenlly, the year to August 2023 is forecast to produce o surplus of income over expenditure in Ihe General Fund, Jericho Road Project and the Vision2030 Fund. The 5-year forecast also continues lo indicate robust finances lo undergird the work of the church going foward and the church will conlinve lo work out and develop its vision as spelled out earlier in this reporl. We will also conlinue to review our general processes and staffing struclures to ensure we are constantly meeting the cuffent needs of Ihe church. The overall financial aim is to realise further expansion whilsl continuing to pay off the church's bank debt at leasl as fast os the existing schedule. 17 King's Church London Trustees, report For the year ended 31 August 2022 7. STATEMENT OF TRUSTEES, RESPONSIBILITIES This Truslees, Report and audiled financial slalemenfs ore prepared in accordance with the Memorandum and Arlicles of Associalion. the Companies Act 2006. the Charities Act 2011 ond the Charities Stalement ot Recommended Piactice IFRSI 0212019. Law applicable to charities in England and Wales requires the Trustees lo prepare financial slalements for each financial year which give a Irue and fair view of the charity's financial activities dvring the year and of its financial position al the end of the year. In preparing financial statements giving a true and fair view, the Truslees should follow besl praclice and: select suitable accounting policies ond then apply them consistenlly,. make judgemen15 and estimates which are reasonable and prudent; state whether applicable accounting slondards have been followed, subject to any material depa¥lures disclosed and explained in the financiol stotements,. and prepare the financial statemenls on a going concern basis unless it is inappropriate to presume that the chorily will continue in operolion. The Trustees are responsible for keeping accounling records which disclose with reasonoble accuracy the financial posilion of the charity and which enable them to ensure that the financial statements comply wilh the Companies Acl 2006. Being responsible for safeguarding the assets of Ihe charity they ensure reasonable steps are in place to prevent and delect fraud and other irregulorilies. Each of the Trustees at the dale of approval of this report confirms that.. so far as the Trustees are aware. there is no reSevanl audit information of which the charity's audilors are unaware; and 2. the Trustees have taken all the steps thal they ought to have taken lo make themselves aware of any relevant oudil information and to establish that the charity's audilors are aware of Ihal information. This confirmation is given, and should be inlerpreted in accordance wilh. the Companies Act 2006. 8. AUDITORS Mazars LLP have indicafed their willingness to continue in office as auditors. Ap by e Trustees on and signed on their behalf by Simon Linley 18 King's Church London Trustees report For the year ended 31 August 2022 Independent auditor's report to the members of Kings Church London Oplnlon We have audited the financial staterrEnls of Kings Church Lond(m (the 'charityl for the year ended 31 August 2022 which comprise the Slalemenl of financial activities. the Balance sheet. the Statement of cash flows and notes to the financial sialemenls, including a summary ol significant accounting pOI￿leS. The financial reporting framework that has been applied in their preparation is applicable law arHI Unrted Kingdom Accounting Standards, including FRS 102 The Financial Repgrting Standard applicable In the UK and Republic of Ireland. (United Klngdom Generally Accepted A￿gun￿.ng Practice). In our oplnion. the financial statements.. glve a true and fair view of the stale of the ¢harty's affairs as al 31 August 2022 and of ils defKil for the year thon ended,. have been properfy prepared Sn a￿OrdanCe with United Kingdom Generalfy Accepted Accounting Practice,. and have been prepared in accordance with the requirtmenls of the Companies Act 2006. Basis for oplnlon We conducted our audit in accordance with International Standards on Auditsng IUKI IISAS IUKII and applicable law. Our responsibilities under those standards are further ¢Jescribed in the 'Auditor's responsibilitses for the audit of the financial slalements section of our report. We are independent of the charity in accordance with the ethical requiromenls that are relevant lo our audit of the financial slalemenls in the UK. including the FRC'S Ethical Standard, and we have fulfilled our other elhical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Concluslons relatlng to golng con¢orn In auditing the financial slalements. we have concluded that the truslees. use olthe going concem basls ol accounllng in the preparation of the financial slalements is appropriate. Based on the work we have performed, we have not Klentif￿ any malerial uncertaint￿$ relating to events or condlllons that, individualty or collectively. may cast signilicanl doubl on the tharity's ability to continue as a golng concern for a period of al least twelve months from when the financial sialemenls are aulhorised for issue. Our responsibilities antj the responsi￿.11￿eS of the Iruslees ￿th resk*Ct lo goirwJ W￿￿rn are described in the relevant sections ol this reporL Other Information The other infomialion cornprises the information included in the annual report. other than the financial slalemenls and our audilorfs report Ihereon. The trustees are responsib￿ for the other infomalion contained within the annual report. Our opinion on the financial statements does rKJI cover the other infomwtion and, except lo the extent otherwise explicitly slated in our report, we do not express any form of assurance conclusion Ihereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements, or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we Identify such material inconsistencies orapparenl malenal rnisslalemenls. we are required to determine whether this gives rise to a material misslalement in the financial slalements themselves. If, based on the work we have perfom]ed, we conclude that theie is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. 19 King's Church London Trustees report For the year ended 31 Augusl 2022 Opinions on other matters prescribed by the Companies Act 2006 In our opinion, based on the work undertaken in the course of Ihe audit.. the information given in the annual reportwhth includes the directOTS' report prepared forthe puooses ofcompany law, forlhe financial year forwhich the financk81 statements are prepared is consislenl wlh the fi'nanc¢al statements.. and the directors, report induded within Ihe annual report ha$ been prepared in ac￿rdanCe with applicable legal requirements. Matters on whlch we arg roquired to rgport by exception In light of the knowledge and understanding ol the charity and ils envlronment obtslned In the course of the 8udil. we have not identified material misslalemenls in the directors, report included within the annual report. Wo have nothing to repgrt in res￿1 of the following matters in reL4lion to wh￿h the Companies Act 2006 requires us to report lo you if. in our opinion.. adequate accounting records have nol been kept. or relums adequats for our audll have not been recelved from branches not visiled by us., or the financial statements are not in agreement with the O¢￿unti￿j re￿r￿S and returns,. or rtain disclosures of trustees, remuneiation specified by law are not made.. or we have not received all the Infomalion and explanation5 we rèqulre for our audit: or Iruslees were not enlilled lo prepare the financial statements In accordance with the small companles reglrne and take advantage of the small companies. exomption in preparing Ihg trustees. rgport and from the requiremgnl to prepare a $lralegiG report. Re8ponsSbS1Stles of Trustees As explained mole fulty in the Irustse$' rèspon5ibililies statement. the trustees Iwho are also the directors of the charitable company for the purposes of company laws) are responsible for the preparation of the financial slalemenls and lor being satisfied that they gNe a true and fair vlew. and for such inlemal control as the Iruslees determine is necessary to enable the preParat￿n of financial State￿EntS that are free from material misstatement, whether due lo fraud or error. In preparing the financial stalemenls, the trustees are responsible for assessing the chanty's ability lo continue as a going concern, disclosing, as applicable, mallers related to going cLJncern and using the going concern basis of accounting unless the Iruslees either intend lo liquhlate the chanty or lo cease operations. or have no realislicallernalive bul lo do so. King's Church London Trustees report For the year ended 31 August 2022 AudltoVs responsibilities for the audit of the flnanclal statements Our objectives are lo obtain reasonable assurance aiK>uI whether the financial slalements as a whole are free from material misstalemenl. whether due to fraud or error, and lo issue an auditor's repx)rt ttial includes our opinion. Reasonable assurance is a high level of assurance bul is not a guarantee that an audit conducted in accordance with ISAS IUKI will always delecl a material misstslemenl when it exists. Misstatements can arise from fraud or error and are considered material if. individually ￿ in the aggregaie, they could reasonabty be expected to influence the economic decisions of users taken on the basis ol the financial sialements. The exlenl lo which our procedures are capable of delecling irregularities, including fraud is detailed below. Irregularities, including fraud, are instances ol non-complian￿ with laws and regulations. We design procedures in line with our responsibilities, ouuined above. to detect material misstalemenls in respect of irregularities, in¢luding fraud. Based on our understanding of the charity and Its Industry. we considered that non-wmpliance with the following laws and regulations might have a material effect on the financial stslements.. employment regulation. health and safety regulation and anli-money laundering fegulat¢on. To help us identify instsnces of non-compliance with thèse taws and regUlat￿n$. and in identifying and assesslng the rlsks of material misslalemenl in r6spect to non-compliance. our procedures included. bul were not limited lo.. Inquiring of management and. where appropriaie, those Charged with governance. as to whether the charity is in compliance with laws and regulations, and discussing their poI￿leS and procedvres regarding compliance ￿th laws and regu131ion$', Inspecting correspondence, if any. with relevant licensing or ieg(tlatory authorities., Communicating identified laws and regulations lo the engagement team and ren￿InIng alert to any Indication5 of non•compliance throughout our audf(', and Considering the risk of a￿$ by the charity which were contrary lo applicable laws and regulations. includlng fraud. We also considered those laws and iegulalions that have a direct effect on the preparation of the financial statements, such as pension legislation and the Companps Aci 20C6. In addition, we evaluated the Iru$tses' and managemenvs IncentNes and opportunits$ for fraudulent manlpulalion of the financial slalemenls, including the risk of management ovemde ol controls. and delemined that the principal risks related lo posting manual journal entries lo manipulate financial pèrfomance and incomg re￿gnitIon (which wè pinpointed lo the cut-off assertionl, and significant one-off or unusual Iransaclion$. Our audit Pr￿edureS in relation lo fraud included but were not limited to.. Making enquiries of the trustees and Man￿ement ￿ whether they had knowledge of any aciual, suspectsd or alleged fraud.. Gaining an understanding of the internal controls established to miligale risks related lo fraud- Discussing amongst the engagement team the risks of fraud., and Addressing the risks of fraud through Manage￿nI override ol controls by performing joumal entry lesling. There are inherent limrtalions in the audit procedules descrit*d above and the primary responsibility for the prevention and dele¢lion of irregularities including fraud rests with management As with any audit, there ￿maiNed a risk of non- detection of irregularities, as these may involve collusion. forgery, intentional omissions. misrepresentations or the override of Internal controls. A further description of our responsibilth.es for the audit of the financtal statements is thated on the Financial Reporting Council's website at www.frc.o .ukJauditorsfes nsibili1￿s. Thi5 description forms part of our auditor's report. 21 Nicola Wakefield (May 5, 2023 14:45 GMT+1) 05-May-2023 King's Church London statement of flnanclal actlvltles For the year ended 31 August 2022 Unrestricted R•5triaed funds Total 2022 Unrestricted lunds Re51rKted funds Totsl 2021 Incom• Don4lioni 1.686.563 415.571 2.102.134 1,657,775 398.688 2.056.463 Ch81118bl0 8Ctivil Cornmunlty & Oulre8C 93,299 95.799 187,8n 62,5C¥) 250.373 Othar Ir8ding act￿1100 Pr6mlso1 rontsl Income Other 13,051 279,207 79.2W2 292,268 79.292 329.463 138 247,935 58,766 677,418 58.904 Tot•1 In¢om• 1.792,913 776,570 2.669,483 2.175,209 787,889 2,943,168 Expondltur• on ch4rlt•bl• I¢￿VIll•l Costs of aclivthes In furth•r4nG• ollh• objècts ollhe ch811ty'. Worship Communlty Outrep¢h 673.081 646,895 8.893 173,M1 646,896 lJ79.515 732,757 837,195 739,794 732,757 637,196 1,317.495 570.022 577,701 Tot•1 ch•rlt•bl• •xp•ndStur• 2,328,889 570.622 2M99,491 2.109,748 577,701 2,687,447 Nat l•xp•ndltur•V In¢om• {535,9561 205.948 1330.0001 65,523 1W,188 25S,711 Tr•nsf8r8 bo￿on fund8 16,17 rJ1.870 (231.8701 167,215 1167,2151 Not mov•m•nt fund* I304,(￿) 125,9221 1330.OQ81 232,738 22,973 265,711 Re¢on¢lll•tlon ol lund#'. Total funds broughl forward •t I styt•￿￿r 2021 6,248.378 914.439 7.162.817 6.015,840 891,488 6,907,106 Total lund• c•rrfod I0￿1rd •t 31 Auuu•12f122 5,944,2¥2 888,517 6.932.809 6,248,378 914,439 7,162,817 All trans8Ctbn8 8re derived frorn Con1￿￿1ng gdNib8 All rgcouni&ed gains and k)$888 are kn￿￿￿ed in the Stslement of fmzntsal #ctith. Tho Stalwn8nl offinanci918ciNibes glso corr4)I￿￿7th Ihe wuirements for an income a￿1 ev￿rture aco)tsnt uNJ6r Compani88 Act 2(Kl6. 23 King's Church London Balance sheet as at 31 August 2022 Compony numbet 4074651 2022 2021 Not•• Flxed asS•t• 10 7.128,828 7,314.882 Curront ai¥•ts Debtors Cash at bank and In hand 11 470,594 1,092,508 1.563,102 915,334 1.420,867 Crodltors: Arnount• falllng du• wlthln on• ygor Nel current 886els 12 213.797 1,207,070 214,602 1.348,500 Totsl a86818 less currenl IkqbilitK88 8.335.698 8.663.382 ¢r•dltor•'. Amounts f•llln9 du• •ft•r moro thon on• y••r 13 11.502,8891 11,S(K),5651 Net assets 6.832.809 7,162.817 R•pr•••nt•d by Fund• Unre$trlcled Fund8 General Fund OeJignat8d Property Furtd 15. 16 15. 16 470.98 5,473.308 5.944,292 096,053 5,552.325 6.248.378 Restrkled Funds 17 888.517 914,43 Totsl lund• 6,832,809 7,162,817 Approveil by the Trustees on ... 8nd $ignwJ on ir beh81f by Slmon Llnley 24 King's Church London Statement of Cash Flows For the year ended 31 August 2022 2022 2021 Ca•hflow8 from opgratlng *ctfvltl•• N8t lexpenditurey IrKome 1330,(￿ I 255.711 Adlustrnents for.. Depre￿at￿On Interest exFens Tr8de Mnd other r8cel¥a￿e9 Trade and other payables ¢￿h Ilowj Iu50d Inv 9onornt•d from opgr*tloM Inl8re51 p8ld 212.252 51,425 { 34.9391 5.448 203,585 57,226 191,3791 6,567 195.8221 151.4251 431,710 157.2261 Not calhflow from OP•Mtlnq •c¢lvlt 1147,2471 374,484 Coshflow8 from Inv•*tlng •ctlvltl Purchase of property, plant and wuipment 125.998) I SO,8731 Ca•hflow• from Iln•n¢lng Capital repgymenls on bank loang Cgpllal repaym8nls of other loan# Pro¢88ds from new bank K)&ns { 93,279) { 475.391 1 110.rKoi 89,350 I3.￿) 148S,3911 161,780 D•cr•a•• In ¢•#h 177,174 Not• to th• c••hllow120221 At 1 S•ptsrnbor 2021 Cash ffow8 At 31 August 2022 C8$h al bank 1.092,5Q8 1177.1741 915.334 Deduct loans.. Loans falling due wlhin ono year Loans falling due alter than one year Net ca$h 19).853) I.5￿.565 1498,910 6.253 2.3241 173.245 184,6001 1.502,889 672,155 Not• to th• cashllow12021} At 1 Sgptembor 2020 cash flows At 31 August 2021 Cash at bank 1.254.288 {161.780 1.092,508 Deduct loans.. Loans falling due within ane year Loans falling due after more than one year Net cash 1119.8201 11,956,989) 1822.5211 28,￿7 456.424 323,611 190,8531 11,500.5651 1498,9101 25 King's Church London Notes lo the financial statements For the year ended 31 August 2022 Accountlng ￿11¢10¥ The fin8ncwl Stslernenls have be6n pr6p8r8d in accordance with Ihe 2rx16, chariti￿ Act 2011 and the Finandal Reportlng Standard 1021'FRS10fi and the related Statement of ReKorMwnd8d Praclice app￿9b￿ lo Charili8$120191. King'8 Church London15 8 publ￿ bèn8frt anlity a8 d6fiMd ty FRS102. 1.1 A¢¢ounllng conv•ntlo Golni ¢on¢èrn The tru5toos consld8rlhat Ihwe are M material unc•rtaith¥ •both Iho th•rW8 a￿lIty lo coThtknue as a ¢¥)￿•M fortho following re890n8. 1. The churth sub¥tsntthl IKwld re8er¥es hs Tworv•• wlw. 2. Allhough a mod&81 impact on incoTh was exper￿rKed during bJdEdwn, IhB r8 ￿1￿￿0n1t0 r•quir• remodi41 •¢tknn to th church's financos. hvwe¥er. further r￿￿¢t￿n¥ in incom 8r• nr￿ consKlof•d unllkoty. 3. Tho Ch￿￿tt has lh8 lltrxlbility to defer subslantial progrgm& Ihui ￿Ulj re8WVa•. Hlstorlcal coBt convenllon finBn¢l818lat6monts hAv8 b•8n prep•r•d und•r th• h￿to￿lI coit convenl*Jn. as lh• r•¥•l￿tkIN of cartain fixed 8ssely. 1.2 Fund• Th• G•nero1 Fund th• De8¥naled Prop•rty Fund reywnt fundi oltho dmrltythal ar• not 8ut4•¢t to 4ny rag8rdlng Ihelr use and are wvoiloblt to furthar lh8 Ot4ectNeS of Ih? charity. Th• puipo8e& ollhe Restricted Funds 4r• ¥hty** ln Mts 17 olth• finandal 8ts18Thnts. The De¥￿￿010￿ Pl0￿rtY Fund wr88enls the book vakn of Ihv Ghoritli inlarail In LaThJ and t￿l￿gI, 1888 oulBt4ndlno lo•n$ whlch wore incuired for lh• pU￿h¥¥¢ ar¥J d8wkJp¥nenl ol property Inole¥ 10. 14. 15 •nd 161. 1.3 In¢om• Donaliona are racognlged rec•fved. In¢orM l&x reco¥erabl8 on gll glj donalpxw IB rwnknd tha knc4)me l& recegnlsed. Grant8 and legBcies are ar￿￿nI￿d hr*then chaiity of it¥ amwnl due IB qUantlhabl8 and recelpt reBSOna￿ ¢8rt81n. Olher Ine4mo18 8cwJnt6d for on a rec8iwat4e bMk4. 1.4 Apportlonm•nt ol r•AouTC•• Stov costs hAv& be8n akvorboned across the 8thity arEas aThJ go¥ernarKe uskng a Slaff Cost Ratio Irth 81. The Starrcost Rat￿18 ¢0￿￿8t8d ty as¥e¥s￿￿ Ihe aath emFW makes lo ear* actwty. 26 King's Church London Notes to the financlal statements For the year ended 31 August 2022 1.5 Pmp8rt188 Valuatlon ol propèrtles Properties are e￿her included at tX)st tt*38th8rwith s￿seq￿tt thv8kyThnl eywenditwo to impalwl [trv￿W. Furth6r detai￿ are wovided n note 10. Depr¢¢l•tlon D8precialion 1$ calculated to writ8 ofltho cost 8888t8 equal ovwthwr ebomatsd us&ful lives. Estimated useful lives ar6 88 lollows.. Bulldings Fixtures. fillings arvj equlwienl Compul8r 8qupmont 3to10 ytsats years A fvll yoarfs depreckllkn Is charg8d kn the yearof aTrJ nDnEt In th• ye•r of dliwJW. Cap5tall8Wtlon Thè capilallsalion Ihr88hokJ is £10.WO for ￿d￿￿￿oI •¥￿ts, #Rho￿h 8888ts of knaer valu• may b• caph•ll¥•d Wlhèyfom) parl ola gioup. 1.6 Con¢•s•lon•ry lo•n• r•¢•lv•d Int•r881 Ire8 loans recehod gr* slkiad 81 tha 8t)v)unt recow unkn8 m8aiureThnt of lh• •mounl ol the lIa￿lty ao rin•nciÈl Inilrumant would be materiaty differonl. 1.7 P•n•loM Pendon co818 relate to payments lo th• porwnal money purcha88 schem￿ olemtw to th• aulo4nrokn8nl $¢hemo and 8r& ch8ig8d In th8 fin8nck91 slatemvntsythgn Ihtyb8cam& p8y8bl8. 1.8 L•1••• FlnAnce Lo08 Atstrts htrkj und8r hb• purch886 and finan¢• l•aw• •r￿ lh• lo￿le*j kga88 rt4JatbJnB are kK4wJ•d at thD f4*v•ly• of tho k•a8od 8Bels 81 lh• Incoptkn ollhe18aia. Operatlng l•a&e8 Rentals p&y8bkn undorsW¥tlng l¢•w Ar• on a 8traW.lffle bath ov•r th• t•mi olth• 1.9 Judg•m•nts In 4pplylno *¢¢OUnilng polbcl•B *nd k•y ofKcounlln9 Mtlm•t•• In applying th6 ¢h8rty'8 Accounling p￿￿¢￿. Ihe TruJttsY 8r• r8quknd to makejudg8m8nts. e¥linqleJ •nd •Mumplv)ns In detemiining the carrying 8mounts of assets and Ikgbililie¥. The key e¥lwnatg 8nd &tsUrr¥JI￿n mad? in thes8 financial slaternenl L8 con$ld&red lo b8 d8pr8ualb?n. whith provKW 81 ratés cakuLated lo off tha cosl1￿$ the e5ts'mated residual valut of each fixed asset over its estimated uselul kfe. 27 King's Church London Notes to the flnancial statements For the year ended 31 August 2022 Incomg 2 Donatk> Unrnstrictod fund% Total 2022 UThr•stdctod nds RostrJ¢tfjd fund¥ Tot•1 2021 funds Rollular giving IrKome lax rtcovefable Regular giving- Msk)n 2030 In¢omt lax r6cowjTo￿0-V￿0n 20x1 L8gacie4 1.441, 244299 81,426 11.273 267.207 1.523.3 255.572 267.207 55.665 1.398,575 259.200 75.545 9,431 270,346 43,306 1,474.120 268,631 270.346 43.380 1,086, 415.571 2.102.134 1.857.775 398.888 2,056,463 Don•￿0￿& of £194.285 re￿￿•d from k•y manag8woMI laeo not• 81 IA th• y•ar12021.. £124,460). 3 Communlty & Outr••ch In¢om• T<>t412022 UDr•itrlttod fund• R•¥trlct•d fund Total 2021 fund• lund• Pre8chlng glft$ Church 8cl1￿lIes 24.915 24.915 66,283 14,032 75,252 14,032 75,252 Oronl&'. Furfough r8calpt8 Love Your Nolghbour gr8nl 19.484 1 19,484 1 83,468 62,500 82.500 FP Impact Traknlng fev$ Othèr Income 750 7SO 20.835 15,121 15,121 95,799 187,8n 250,373 Expendltyr• on charltabl• aell¥ltS•• 4 Wornhlp Unr•Blvkiod furwjs R•s1￿cted Total 2022 UnroBtrl¢tod Ro•trlc10d fund Total 2021 Direct staff costs (notè 81 Church acliYili?$ Premisey gPPOrtlonrMnt AdmlnislratKin 8pp)rtknnm6nt 368.365 47.495 175.162 282.059 341,936 17.021 127,262 246,53& 341.926 17,021 127,262 246,538 47.495 175.162 282.059 873.081 873.081 732.757 732,7S7 28 King's Church London Notes to the financlal statements For the year ended 31 August 2022 6 CommunSly UnmtrlGt•d fundb Total 2022 R•8trfctsd lund• Totsl 2021 fund8 fufid• Dlrecl costs Inots 81 Church ac1wit￿8 Premlse8 aPPOrtionm&nl AdminislrAtion apporllonmont 271.WJ 35,318 130,248 209.738 271.593 35.318 130,248 209,736 300.655 14.657 109,587 212,2 300,655 14.657 109.587 212,298 646.895 648,895 637.195 637,195 8 Outr••ch Vt)r••lAct•d kn11k￿ Tot•1 2022 fyndts fvr#J8 R••trlctgd Totsl 2021 d• fLmd• Dlrecl ¥tpff ce818 Ino10 81 Church aclbvll￿8 304,156 38,970 158.593 52.381 482.749 91.351 317,124 15,602 163.190 149,876 480.314 105,278 Gr8nlB pAY8b￿.. Ukrfilne rtrll Zlmbabwo Kenya famino Mll Seulh Afrlca. Rc￿onI￿ & Chkn• N*wfronll•rn Glfts to Church Pl*nts 0th8r 49.114 49.115 17.794 10.037 17.794 25.0 25.030 10,03T 9,500 7,500 38.485 19.331 36,485 19,331 22.389 Pr¢mlse8 app)rtlonm8nl AdMlnlslr8￿0n apportlonment 143,723 231,433 299,e07 443,330 232,323 116,657 225.992 284,746 381,403 226,081 808,893 570.622 1,379,515 739.794 577,701 1,317,495 7 Gov•m•nc• 2022 2021 Governance (xjsts indudè.. Audilorfs r8muneration 9.744 9.8L Gov8rn4nG• costs are allo¢al8d io ch8th8bb wilhin AthIw1k4traIK￿ cosls. King's Church London Noles to the flnanclal statements For the year ended 31 August 2022 8 Staff 2022 2021 Stoff costs 15 comprlsed ol Wage5 salartes Social security cost5 Pension costs Slaff expens88 Training costs 1.274,489 128.723 176,824 34.864 9,761 1,295,665 125,258 176,977 7,654 8.355 1,624,661 1,613,909 Allocatlon by •ctlvlty All staff costs 2022 Un￿tricted stall costs ratK>S 2021 Worshlp Cornmunity Oulreach 39 368,365 271,593 462.749 1,102,707 341,938 300,655 480,314 1.122,905 Admlnlstrallon Governance l¥ll0￿t•d wlhln the AdnMni8trnlbJn appothmenl) PrÉmI8•8 481,988 24,753 15,213 447,434 24,831 18,739 1,624.681 1,613,909 Thg 8toff costs ratkjs are ￿kulAt•d by a$S￿￿n9 the ccrtibution •ath enwloye8 mak¢s to èath odvity. The Unrestri&8d staff costs rali05 have beln 88 the bgsls ts aFwtionhYd unrestrkknl Fyeml￿. adminSstratk)n thurch actfvlty costs Inotg8 4. 5 & 61. Restr&#ed stsff costs ar• 8locoted speaficHIIy. The average monlhly numbtrr of employee8 during Ihe yoarwas 4212021.. 431. The 8V8r8ge monthly number of lull 8quwa￿nl employees during tho yearwas 34 (2021.. 341. There We￿ two employee5 whose salary efibtte￿nt in tho year was In the raTrJe £60,(￿ to £70,iNJ)12021.' one). no employees in the range £70.000 to £80.00012021.' one) and ern￿Oyee whose salary en111￿ment wa5 in the range £g0.000 to £100,00012021'. orn). K•y manag•m•nt ￿nI)nn•1 The church's key management personnel comprise the Iruslee5, Ihe Senior Pasior, the Associate Pastor and Ihe Executive Paslor. The total employee benefrt5 linclwjing penswl of the key rnanagement personnel forthe year were £207,27012021.' £257.0451. g Trust￿ and r•14t￿ partl Trust••s' •xp•ng•• No expenses have been Incurred by thè Trnstees12W21.. £Nill. R•lat•d partle$- TruBt•05 Wi11iarn Dalziel's spouse, Hilary Dalad C￿tinUeS to be emFtyed as a p8Storby the Churdh. receiving emluments of £10.38512021.. £10,376). King's Church London Notes to the financlal statements For the year ended 31 August 2022 10 Flx•d ￿•0¢$ Flxtur•s. frttings and •qulpmont L4nd and bulldongs Total Cost or vlluitlon Al 1 S8pl8rnber 2021 Additlons al cost At 31 August 2022 9.269,054 25,998 9,295,052 399,040 9,668,094 25.998 9,694,092 399,040 D•pr•clatlon At 1 Septernber 2Q21 Charge lor the year At 31 August 2022 1,985,216 185,381 2,170,597 367.996 26.671 394.867 2,353,212 212,252 2,565,464 N•t book v•lu•• At 31 Augu612021 7,283.838 31.044 7.314,882 Al 31 Augu512022 7.124.455 4.173 7.128,628 Land and bulldlng• Land and buildings at 31 August 202215 comprised of: C08t or voluatlon Cumulatlve Deproclatlon Not book v*lu• Property &t Catlord Hlll Property al Me8dowcourt Road Property ht Downham Way 1.991.881 6.877,173 609,533 1,238,683 137,Crt)O 1,985.216 1,382,348 5,438,490 483,000 7,283,838 9.269.054 Valuatlon of land and bulldlny• The most recent Site valuations ofthe Fxqy•rf*s am.. Property at Cafford Hill Property at MeadowGourt Road Propety at Downharn Way 3.￿,000 Val￿j by sa￿19 in 2016 7.850,000 Valued by JO￿5 L8NJ L8Salle kn 2019 785.000 Val￿j by S8¥ills in 2016 12.535.000 The propety 81 Meadowcourt Road ha5 the Triodos bank loans secured on It {see noles 12. 13 ￿1 141. The tille deeds lo the Cafford Hill and D￿lnharn Way properties are heKI by The LO￿ Baptist prO￿rtY Board Limited under tru51 deeds by whlch ￿"n￿'S Church lc￿dOn is entitled to ocvjpy, enjoy aThJ have the benefit of the tn*sl premises. The London Baptist Property Board h85 a minoitty Inte￿$t in the value of the Calford Htll properly as disc108ed in note 19. 31 King's Church London Notes to the flnanclal statements For the year ended 31 August 2022 11 D•blors 2022 2021 Debtor5 Ilncluding prowly lets) Houslrva supFort scheme Prgpaid expenditure Income taK recoverable on Gift Alj 61,721 345.787 43,9CKI 54.125 505 533 70,382 345,787 30.837 23.588 470 594 12 Cr•dltor•'. Amounts hlllng du• wlthln on• y••r 2022 2021 Loans.. Triodos bank loans (note 141 Othgr loan8 Ae¢ruals'. HM R•venue & Customs PAYE & NIC Other accruals & ￿ I￿1h the hou￿ng support stheme. This loan 15 over 20 years and i8 818 tale of 2.3% ovw base. ¥rilh a rninwnum of 3.05%. 32 King's Church London Notes to the financlal statements For Ihe year ended 31 August 2022 18 Unre8trfctsd lund¥ 2022 2021 Total Mesirlctod fund* rotal prwiy uthro•trl¢tod fund fund# fund fund N•t l•xp•ndltur•l I Incom• (3X*.5751 1636.9611 250,904 1185,3611 64623 Tran$fer$ bth*•n fwfi 125, 1￿364 2J1m (333,3281 8W.511 107.21fj N•t mov•m•nt In lund• 1226,Wl (79.01n 182.4221 315.1eo 232.7J8 R•con¢lllatlon ol lund•'. Tot81 funds at 1 Septembgr 2￿21 8É6,053 6,652.325 778.475 6,237.185 6.016.640 Ttsi•l fundts it 31 August 2022 470.964 5,473. 8.944￿2 096.053 5,552,325 6.248,378 Exp8tYllture In tha D88W8led Proporfy Iwbj d8w•*Ikn M wopwt* Th8 tr8n8f8r ofÉ108,364 Inlo lh• Prtyrty F￿1 repre￿11 Ihe ￿￿111k* d￿n9 th• wrtod. 18 AnalyAkn of n•t as••t• by fvnd 0oTh•r•l lund D¢¥lgnat pmwvty fund R•tstrf¢tod fund• 2022 Total lund8 T¥vJlble fixed 4,1n 387,936 7,128,828 Current ¥soel$.' Debtors Cgsh Bl blnk ind In ￿nd 475.521 424.552 30,012 ).782 506.533 915,334 C￿d￿or&'. Affthnts falllng ￿￿1th1n on8 > 1120.4C41 173.1781 (20,2131 1213,7971 CrÉdbtor8.' Amjnts falllrvj ¢kn after Ihwn ants >w (312.8541 11.19C*.0351 11,602,8891 Tolal nol 8$¥el 470.984 5.473.308 8BB.517 8,832,809 King's Church London Notes to the financlal statements For the year ended 31 August 2022 17 R•ffstrfctsd fund• Translors P•l•n¢o •t 1 S•pt•mber 2021 Movement In resou￿01 In¢om• EMpendEtur• B•l8n¢è at funds 31 August 2022 Seclal A¢lk)n Jericho Road Prr4ecl Vksion 2030 Hop8 Fund Love Yow NefvJhbtyJr Ukrdr Other South Lee Churth Fwd T4.117 383.763 322.872 18.271 1399.8641 1109.5591 I12.￿6) 16.873 1213,3131 132.1541 13,2761 74,889 0,148 14,200 49.114 1.888 797.760 797.760 Tot81 r8slrfcl8d funds 914.439 776.570 1570.6221 231,B70 886,517 Socl•l Actlon J•rl¢hty Road PrO￿¢t Th[8 fund supports ￿ng'S Church Landorfi lo th8 In L￿ts. The net tr8n8ferofE18.873 Inlo ihlj lund l& £#xYyknd ol.. 25.000 donalkin in Irom Klng's Church Lonth)n'8 98￿r￿ lund. £3,278 b&l8nce of LO￿ Your Ne1ht￿r fund Ir8n¥forred. r E32.154 donallon in frcffi the Hopfr fund. É43.557 peymnl 018dmln1str8l￿n costs by Kkng8 Cknjrth L1th*9w￿l Iwl Vhlon 20JO Thls lund pro￿deS Ihe refwNshmwrf. ¥Ou￿ •)d In T￿8￿j ethtty dleB aThl rdthd wul•. The purch48• ond dwok)pm8nt ofth8 property al Meado¥Kwt Ro•d wos lurthd ￿ IwBe and Juh thèrtr￿1 bo an urfl 2035. Th• In th•do&Wt•J ￿0F￿ty I￿J. 2010 to 2021 Sunwn•ry olVl•lon 2030 Fuhd to d Ttsi•l 2022 In¢￿0 r•t*ln•d In lund Purchage And relurNsh￿￿1 of Fxop*ty Olhèrtxptrndllure, hdLts11ng loen Inleresl Amount lo be ralsed In future yewrn 7.OKI.032 (7.$21.1111 1,260.029 1.691.IC 322,872 6,787.160 194.0411 17,427,070) 41.516 1.218.513 187.315 1,878.423 Hop• Fund This fund is used lo assi$l clwjrch mert•rn. thO*whrwrffl￿nitY bulh *vJ Ihostr Swerdy Impaded by co¥ld. Lo¥• Your N•lghbour These funds were for Lev?YtyJr cc1atrx￿I￿wr4rt ir*rellsed lo Woas ofth CLVT]munfty 5uttering hardshlp. has lo ￿ qnd. King's Church London Notes to the financial statements For the year ended 31 August 2022 17 R￿l￿GI•d leonunuodl Oth•r Variw5 don31ions for tAh6r wrpxes, in￿lI¥j offerirytLwMds Fvoi8ds South Lq• Churth This fund hJenlifigs the proceeds ollha Scrtjth L80 soWJ In 2W4, 1$ inve$ted prwerty and otheTh*i8e In tha th￿ty¥￿￿n¢8tl0 PLVPO•U. 18 L•*i• commlbmnts At 31 Augu¥¢ 21Y22, w88 lo rrthtrvJ ￿r wdBropor•tinB kna08 explrlng.. Flxtur• flttlngs and •4ulpm&nt Land and bulldlng1 2022 Tot•1 2021 Total Wllhln ona ye8r Beh¥Mn ¢n• •nd fiv• yew• 3,754 237 3.751 237 4.230 3,754 3,9B1 3.991 19 Mlnorfty Int•r••t 2022 2021 The LoTrJon 8￿$1 Prop•rty Bo*d Dodw81kn of tn*l daled 2CQ4 - Mlnoilly Internsl In proparty al C8iford Hkl {Th)t• IOI 387,936 387,936 387,938 387.936 Th18 lorms Ih81 p8rf olthe Swth L•• roslrkt8d loeo rKA• 171 lh￿ l• Invoslad kn wcyty.