Reports &
Financial
Statements
For the year ended 31 August 2024
King's Church London
Company Reglslratlon Number:
Charity Reglstratlon Number..
4074651
1082666
Contents
References and Administration Informatlon
Trustees. Report
Independent AuditoPs Report
Statement of Financial Actlvltles
Balance Sheet
Statement of Cash Flows
Notes to the Flnancial Statements
2-17
18-21
22
23
24
25-34

References and Administration Information
King's Church London
For the year ended 31 August 2024
The Trustees, who act as directors for the purposes of company law, present their annual
report and the audited financial statements of King's Church London ('the Charity'l for
the 12 months from I September 2023 to 31 August 2024 {'the year'l.
REFERENCE AND ADMINISTRATION INFORMATION
Charity name
Company reglstration Number
Charlty reglslratlon Number
Trustees
Kings Church London
4074651
1082666
Ossie Klass
Odunayo Oyabayo
William Dalziel
Simon Linley (Resigned 04.01.251
Roberta Walker
Kwaku Osalo
Secretary
Registered office
Nigel Mumford
King's Church
21 Meadowcourt Road
Lee
London
SE3 9DU
Solicitors
Wellers
Tenison House
Tweedy Road
Bromley
Kent
BRI 3NF
Bankers
HSBC Bank plc
149 Rushey Green
Catford
London
SE6 4BQ
Audltors
Sayers Vincent LLP
Invicta House
I l O Golden Lane
London
ECIYOTG

King's Church London
Trustees, report
For the year ended 31 August 2024
I. STRUCTURE, GOVERNANCE AND MANAGEMENT
l.I Structure
The charity is an incorporated charity limited by guarantee. It was incorporated on 20
September 2000 and registered as a charity on 28 September 2000.
King's Church London is a diverse Christian church based in South-East London. It is part of
the Newfrontiers family of churches as well as being a part of the Baptist Union and the
Evangelical Alliance.
1.2 Governance
The Trustees of King's Church London have overall legal and financial responsibility for the
charity.
They have delegated responsibility for the spiritual and strategic direction of the church as
well as its day to day running to a team of Elders including the Senior Paslor. The Trustees
are regularly apprised of the financial position of the charity and at Iheir formal meetings
discuss and review any major changes in the direction of the charity or on policy issues as
they evolve and develop.
Trustees are selected by existing Trustees, in consultation with the Elders. They are
responsible people who demonstrate a strong Christian faith. They are those with a
particular area of expertise / business acumen in their secular workplace which is relevant
in overseeing a significant charity which is also a Christian church.
When appointing new Trustees of the charity they are first invited to attend existing
Trustees meetings to understand how the charity operates. Where appropriate they also
attend formal training sessions which are taken by external companies with specialist
experience in running a charity. Existing Trustees will also attend organised training from
time to time to refresh their knowledge and skills as well as learning informally from one
another, their own external networks and the Company Secretary.
The Eldership meets regularly to discuss and oversee the affairs of the church. They work
with the other full and part time members of staff and a wide range of volunteers to
implement the vision, values and objects of the charity.
In addition to this there is a Management Team of six, led by Steve Tibbert, the Senior
Pastor who coordinate the day-to-day activities of the church on behalf of the Trustees
and Eldership.
Trustees and Elders are continuing discussions on ways of broadening and diversifying the
leadership of the charity so that it reflects in some measure the diversity of church
membership. This has been fulfilled in part but there is still more work to be done.
The charity has six Trustees and six Elders.

King's Church London
Trustees, report
For the year ended 31 August 2024
1.3 Risk Management
Trustees have recognised the importance of assessing and managing risk associated with
the charity's objectives. The process of identifying risk is on-going and is an essential part
of the work of the Trustees and Management Team. The charity has a set of policy ond
procedure documents in place to ensure on-going identification and management of
foreseeable risks. These documents are regularly reviewed to ensure that they continue to
meet the needs of the organisation.
Those risks relating to environmenlal impact, both regulatory and economical,
operational management, including HR and Health & Safety, reputalional risk,
safeguarding and financial controls are of particular importance. In line wilh the Charity
Commission's guidance a risk register has been developed and through strong policies,
regular audits, financial oversight, and active Trustee involvement these and other risks
are mitigated against. This ensures effective management and stability throughout Kings.
1,4 Other Policies and procedures
The board of Trustees have an established cyclical rhythm of review in regard to the key
policies of the charity. These include safeguarding, Health & Safety, Risk Management,
delegaled authority, property management, GDPR, HR and remuneration.
In specific relation to remuneration. we have considered the five recommendalions of
the Report of Inquiry into Charity Senior Execulive Pay and Guidance for Trustees on
Setting Remuneration" published in April 2014, endorsed by the Charities Commission, and
we have sought to implement these as appropriate to our situation. This includes an
annual remuneration review by the Trustees. as well as a tri-annual review of our salary
scales to ensure that our benchmarking continues to be consistent and accurate.
All policies and procedures are under regular review to ensure best practice and
compliance not just for staff but for all those who take part in the community life of the
church.

King's Church London
Trustees, report
For the year ended 31 August 2024
2. AIMS AND OBJECTIVES
The main objectives of King's Church London as stated in the Trust Deed are the
advancement of the Christian Faith
2,1 Vislon / Mission
Over 25 years ago King's Church experienced a 'defining moment, when Steve Tibbert,
who leads the church, shared with a congregation of 200 or so, meeting in a rather run-
down building. a vision part of which was a call from God to build a one thousand
member church. In January 2012 there was a similar 'defining moment,, by which time
Sunday altendance had grown lo over 1200 across 3 well equipped modern buildings, as
steve again shared with the Church a 'word for now, lifting the church's eyes to the
possibility of a church where 5,000 people attend each Sunday, a vision "that is one worth
giving our lives to seeing fulfilled"
In September 2018, with Sunday attendance averaging almost 1,500, we launched Vision
2030 which is our vision for King's Church in the years towards 2030. The church currently
has four sites which run a total of seven Sunday morning services. Vision 2030 is based
around three key themes of Reach, Resource and Restore, each of these worked out
under two different headings.
Reach
Come and See
We believe we are called to build a church of 5,000 believers. each of them known by
Jesus and precious to Him. We will continue lo encourage everyone at King's to invite
friends, family and neighbours to Sunday meetings, especially at key moments such as
Christmas and Easter. Hundreds of people have already visited King's in direct response to
an invitation to 'come and see Jesus for themselves; for many this has been the first step
in their own journey to faith.

King's Church London
Trustees, report
For the year ended 31 August 2024
"Go and Tell
We want each of us at King's to play our part 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 will seek to equip
every believer to be able to share their faith. We will encourage people to reach out in
their communities. families and workplaces, to initiate other outreach activities, and to
take every opportunity to invite people to "come and see
We also believe we should be involved in spreading the Gospel not just in London and the
UK, but in the nations beyond. King's and its members already have links with churches in
other nations, including Romania, South Africa and Zimbabwe.
Restore
'Inside"
Over the years, King's has seen thousands of people who have come through our doors
experience healing and restoration. Many have come to faith here, and as we have
grown as disciples, we have had our lives radically Iransformed by meeling Jesus in the
midst of His people. We want this to multiply and to deepen in the future.
There are a number of ways we currently express the Gospel that have been particularly
powerful in seeing lives change. Obviously, this includes our Sunday meetings, but also
settings like Alpha. our groups, and courses such as CAP money coaching, The Marriage
Course, Restored Lives (for anyone separated or divorced), The Bereavement Journey
and Freedom in Christ.
We want to extend and develop these to help bring restoration in new areas, for example
parenting, helping people find freedom from various addictions, and other courses.
Outside
We are continuing to contribute towards restoration in our local community through the
Jericho Road Project. However, we want lo broaden what we do in the local community
so that our work is not only amongst the most disadvanlaged, as vital as that is, but
affects other sections of society as well.
Some of these projects will be initiated, financed and overseen through the leadership of
the church, whether they are expressed at all sites or only one site. This will include working
with young people on the margins of society who are endangered by the threat of serious
youth violence through partnering with charities that have particular expertise, such as
the mentoring scheme for children run by Transforming Lives for Good.

King's Church London
Trustees, report
For the year ended 31 August 2024
In addition, we hope to see many "mini restore projects develop, led by individuals and
groups from King's in order to serve both King's and our local community.
Resource
Nationally
We believe King's has an important role to play in the UK. Some of this comes from the
fact that we are a large, multi-site, urban and diverse church, and we can therefore help
other churches with our example and our experience (even as we continue to learn
ourselves!). Our resources such as Sunday teaching, material for groups, courses, articles,
books, videos and the like already have a wide reach. and we hope that this will
increase.
We also have a part to play in the wider Newfrontiers family we are part of. This includes
the leadership given by Steve Tibbert, our Senior Pastor, and the theological influence of
Andrew Wilson, our Teaching Pastor. Beyond this it also includes coaching pastors, hosting
conferences, training interns, providing financial support, sharing best practice,
strengthening churches, and so on.
Globally
The Gospel crosses international boundaries, and so does our responsibility as a church.
Again, some of the ways in which we work this out will be very specific. The Newfrontiers
family connects us with 2,000 churches worldwide, and we will serve many of them with
practical, theological, financial and leadership resources.
We continue to have a close relationship with River of Life Church in Harare and the
Ebenezer Project. We have a number of things in common with the church- size,
influence, urban context, diversity, apostolic base and a focus on mercy ministry among
the poor.
steve Tibbert, our Senior Pastor was asked to facilitate the global fellowship of the
Newfrontiers 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 to the
nations, and the commission Jesus gave His church to go into all the world and make
disciples. At times this 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 2024
2.2 Values
The Trustees and Elders have sought to work out how best to express the Mission and
Vision Statements in the context of week to week church activities, values and life. Al the
same time they wanted to produce such statements in a form that would, if possible,
provide an appropriate way to express the financial affairs of the charity. The following
three value statements aim to summarise what the charity is about, namely:
to promote and encourage our members to live a life of Worship to God",
to build a mulli-cultural 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 to be involved in Outreach to Ihose who have not yet
accepted Jesus as their Lord and Saviour with the message of reconciliation; to
demonstrate the love of God through helping the disadvantaged; and through the
planting of new churches.
These three headings Worship, Communily and Outreach are used as main headings for
summarising the activities of the charity and thus its financial reporting procedures and
accounts.
2.3 Volunteers
The Trustees would like to continue to acknowledge and thank the many people within
King's who freely give of their time and make all that we achieve together possible. We
cannot attempt to place a value on the immensely significant contribution that our
volunteers make. They continue to be a crucial part of all that we do and we are grateful
to them for their time and commitment to our Mission and Vision.
2.4 Public Benefit
The Trustees are aware of Iheir duly and seek to identify in both the report and accounts
their regard to the Charities Act 2011 and the Charity Commission's general guidance on
Public Benefit. It is in fact a central part of our vision, thal we provide support,
encouragement and practical help for those disadvantaged in our local communities as
well as other members of the community, not just our members.

King's Church London
Trustees, report
For the year ended 31 August 2024
3. ACTIVITIES, OUTPUTS AND IMPACTS
In what follows we summarise how the church seeks lo implement its vision. values and
objectives on a week-by-week basis, and the result of activities in each area.
This report as well as reporting the statistics that relate to the on-going work and growth of
the charity, also seeks to give examples and testimonies of where lives are different due to
the activities of the charity thereby demonstrating its commitment to Public Benefit, and
the impact it is having amongst its members, in the local community and beyond.
3.1 Worship
Worship is the thrust of our Sunday meetings where, through singing, prayer and teaching
that is relevant to people's lives loday, we encourage people who call King's their local
church, to live a life of worship to God. The meelings also provide a context for individuals
to share personal testimony, respond to the claims of the Christian faith and for adult
baptism.
We currently have 7 Sunday services across the church, two each at the Catford,
Downham and Lee sites and one at Beckenham.
In September 2024 we averaged 1580 people in attendance on a Sunday which is an
encouraging + l Ofo increase on the same time last year.
There is children's work for ages 0-4, 5-8 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 with the children
through fun games, worship, bible teaching and looking at the bible as well as
completing craft activities each week. We work hard at developing our teams and our
team leaders. In each of the children's work areas we follow bright and varied curriculums
which are age appropriate. We are enjoying seeing these brought to life by leaders
creatively communicating them to the children.
Our children's work is structured to get the best from our children and help parents feel
comfortable leaving their children in our care as they feel confident their child is being
well cared for.

King's Church London
Trustees, report
For the year ended 31 August 2024
As part of a ministry for the Deaf community at King's each week we interpret the worship
and teaching into BSL. This currently takes place at the 9:30 meeting at the Lee Site.
In addition to this they have their own monthly meeting, also based at the Lee site.
We have continued to ensure Ihal there are specific online services with BSL interpretation
as we continue to support this community.
The needs of the disadvantaged in society are always varied and a challenge therefore
we continue to work hard to serve our deaf community.
3.2 Community
Community life is worked out in a number of ways at King's Church.
3.2.1 The Group system.
This is an opportunity for individuals from diverse backgrounds who call King's their local
church to meet together, oflen in homes, but also at four siles. We encourage people to
develop friendship and work out their Christian faith, not just in discussion but in act and
deed. Some of Ihe groups will have a more specific reason for meeting together such as,
the Wednesday Welcome meeting and lunch for the elderly in our community, and the
BSL small group where deaf and hearing come together.
We have a mix of groups, some online and some in person, which helps people stay
connected and be part of a smaller community.
We have an established youth work with around 80 1 I s-18s attending each week, this runs
centrally at the Catford site.
We also have a thriving 18's-30's work. This regularly gathers around 60 people on a
weekly basis across all of the sites.
We put a lot of work into launching and promoting these groups as a result of our
commitment lo 'group life, within Ihe church. The results of Ihis continue to be extremely
encouraging with around 900 adults signed up for groups.
All of our sites have a number of Groups where people can meet regularly. These groups
serve many purposes including helping those attending the church to get to know one
another and for regular friendship and encouragement.
3.2.2 A wlde range of serving opportunities
There are many opportunities which allow most of the congregation to have some
involvement in expressing their Christian faith practically as they work together to serve
the church and the wider the community.

King's Church London
Trustees, report
For the year ended 31 August 2024
This might be through being a part of the Welcome Team serving on a Sunday at one of
our sites, working on an Alpha leam, as part of the Feast team, helping those who are less
fortunate amongst us. Or perhaps as a part of the Worship team on a Sunday or working
in ID on a Friday night where the I I to 18 age range meet in a relaxed atmosphere to
support the needs of young people as they mature into tomorrow's adult population.
3.2.3 Courses, Seminars and Training opportunltles
We have found that more and more people like to be part of our communily by joining
and taking part in short term courses and seminars.
There are various courses that run at differing frequencies, these aim to help people to
grow in God and equip them to make good life choices, for example:
'Freedom in Christ, is a discipleship course for Christians lasting 9 weeks which we run
once a year when able to do so. The course lays a biblical foundation for Christians about
their identity in Christ and how that should affect their thinking, how they handle Iheir
emotions as well as their spiritual life. There is also teaching which aims to help them
process past hurtful events, forgive and receive emotional healing.
The Marriage Course - an annual course which helps to enrich people's marriages. This
course is deliberately kept to a small number of couples lo make it manageable and
personal.
Restored Lives - a divorce recovery group we run once a year which also serves the wider
community.
Relationshlp Matters which helps people build strong relationships and prepare for
marriage.
The Bereavement Journey
A course which gently guides people bereaved at any time through the most common
aspects of grief and bereavement, enabling them to process the implications for
themselves and discern next steps.
New Llfe
A group which discusses key themes for effective Christian growth and discipleship, which
follows on from Alpha. It is aimed at new Christians and anyone wanting to go Ihrough
some basic Christian discipleship principles.
stewardshlp- an annual seminar about handling money wisely as well as running the CAP
money course {a practical course on budgeting and managing your moneyl and the
Financial Freedom Course which helps people with next steps of planning, saving and
investing for their future.
Leadership Training - we provide a number of opportunities which help people fulfil their
potential and thereby also help the church grow and expand.
Membership Mornings- we encourage people who would 5ike to make King's their home
church to become members. We facilitate this by hosting sessions which explain our vision
and values as well as what it means to be a member of King's Church.
10

King's Church London
Trustees, report
For the year ended 31 August 2024
3.3 Oulreach
Whilst there are aspects of worship and community that relate to reaching out to others,
there are a number of activilies where this is specifically focused.
3.3.] The Alpha Course
We continue to run the Alpha course, which has been running at King's for over 25 years.
During that period over 3700 people have attended with over 900 people responding to
the Gospel.
In the last year we have run three Alpha courses with around l 00 people attending.
We estimate that 15 people came to Christ. As result of this a number of those people
made the decision to be baptised.
Alpha has provided a context for people to ask the big questions about life and faith and
to receive leaching about Christianity. who Jesus is and the work of the Holy Spirit.
3.3.2 The Jerlcho Road Project
The Jericho Road Project (JRPI aims to provide support to individuals facing
disadvantages in Lewisham and Greenwich. Our three core values are Relief, Hope, and
Connection. this helps define all that we do.
We operate six low-support housing units that can accommodate up to 25 individuals
who have been homeless or rough sleeping. Many of our residents have experienced, or
are currently dealing with, challenges such as addiction and mental health issues, which
have limited their alternative housing options. Each resident completes a support plan
and meets regularly with a key worker to ensure that progress is being made.
The demand for places in our housing project remains high. and we are a direct referral
project for Lewisham Local Authority in Soulh-East London.
The Feast is an initiative that enables the project to serve the community while offering
volunteering opportunities to people who would struggle to offer their services in other
volunteering settings. This continues to run every Wednesday between 7 and 9 pm for 48
weeks per year. It is well-supported by the wider church and has a team of approximately
60 volunteers.
The "Thursday morning drop-in" group continues to be a great provision for our wider
community. The group runs from l Oam-12pm and provides specific access to advice
workers at the Catford site for our contacts and neighbours. This means that we often
have a DWP worker, a drug and alcohol support worker from CGL (Change Grow Live)
Lewisham, and a general advice worker from Thames Reach attending the group.

King's Church London
Trustees, report
For the year ended 31 August 2024
This group gives people safe access to community resources. It has also resulted in more
people being signposted to the church and has provided an opportunity for the
community to learn more about Jesus.
The Jericho Road Project continues to support the reduction of rough sleeping in the
Lewisham borough by hosting the Lewisham Homeless Forum at the Catford site.
Through this project we continue to serve and support some of the most vulnerable and
marginalised people in the boroughs of Lewisham and Greenwich.
3.3.3 Tralnlng and other involvement wilhln Newfrontlers
Through hosting events, leadership and theological training we continue to be a resource
for the benefit of Kings. other local churches and churches in the Newfrontiers family.
We also continue to be involved internationally, supporting ministries in India and
Romania as well as our continued involvement with, and support of, projects in
Zimbabwe.
12

King's Church London
Trustees, report
For the year ended 31 August 2024
4. ACHIEVEMENTS AND PROGRESS DURING THE PERIOD
There have been many highlights through this period, with increasing signs of health in
what is a growing. vibrant and diverse church. Sunday attendance has been extremely
encouraging with +1 Oyo increase on the same time lost year.
We introduced a second Sunday morning service at our Lee site, as well as implementing
a change of meeting times at our Calford Site. Both of which have been a great success
and means we now have 7 Sunday services across the church.
In line with this we no longer provide a full online Sunday service due lo the numbers now
attending in person since Ihe Covid pandemic. However, both audio and video versions
of the Sunday messages are available from our website. This also includes a version of the
video with BSL translalion.
Attendance at groups is healthy with many people getting involved in church life in that
way. We hope this will continue to grow in step with the increase in Sunday attendance.
We have a strong and dedicated staff team which currently consists of 41 staff who are
all committed to the vision of the church and in reaching the communities around us. We
regularly monitor and review the staffing structure to ensure that it meets bolh our current
and future needs.
We continue to carry out works across all of our sites to ensure their ongoing maintenance
and suitability for the church's needs.
Towards the end of the period we began a significant refurbishment of our Catford site.
This included re-roofing part of the auditorium and a refurbishment of the majority of the
ground floor. The expectation is that all of these works are to be completed through the
forthcoming period. The boiler has also been planned to be replaced as part of these
works, and it is expected that this will be completed through the Spring of 2025.
Overall it has been another very encouraging year of progress for the church, the staff
team and the communities around us and we look forward to the future with faith.

King's Church London
Trustees, report
For the year ended 31 August 2024
5. FINANCIAL REVIEW
5.1 Overview
The year ended 31 August 2024 had a deficit of income over expenditure and the result
has been deducted from the General Fund. The deficit was due to the additional
expenditure required for the refurbishment works at the Catford Sile. This was taken from
our strong cash reserves and Ihe outlook is to return to a surplus once the project is
completed.
The strength of the financial activities remains the consistency in giving income.
The charity retains a strong balance sheet. At the end of the year, it had a strong asset
base compared to its long-term liabilities and strong liquidity with substantial cash
holdings.
5.2 Principal fundlng sources
King's receives most of its income from its congregation in order to fund its activities. The
trustees are committed to maintaining the highest legal and ethical standards in the way
it undertakes its fundraising activities. All fund-raising takes place in-house and the charity
does not use any professional fundraisers or commercial participators.
The total given income was £2,474,042 which is a decrease compared to £2,526,759 for
the previous year. Kings is mindful it its approach to fundraising to ensure the protection of
its congregation, including vulnerable people from unreasonably intrusive or persistent
approaches, and undue pressure to donate. Were any complaint to arise with our
fundraising practice it would be taken very seriously by the team and our complaints
policy would be followed. There were no complaints in 202412023.01
5.3 Relaled partles
King's Church London is part of the family of churches known as Newfrontiers.
Newfrontiers is a network of churches who partner together on a mission.
steve Tibbert, the Senior Pastor, continues to be a member of the international apostolic
gathering of Newfrontiers and continues as a Director of the Newfrontiers charity. He
receives no remuneration from Newfrontiers.
Transactions with related parties are detailed in note 9 of the financial statements.

King's Church London
Trustees, report
For the year ended 31 August 2024
5.4 Investment powers and pollcy
The Trustees take appropriate advice related to investment as and when required in order
to maximise Ihe effective stewardship of our income and our reserves. This may include
keeping funds above our immediate needs placed on the money market to earn a rate
of interest as and when it is appropriate to do so.
5.5 Reserves policy
The balances in the General Fund and Designated Property Fund represent the
unrestricted funds arising from the past operations of the charily. The Trustees believe that
an amount equivalent to a minimum of two to three months gross expenditure is kept in
reserve. In addition, funds are needed for use as working capital which provides for
regular fluctuations in income and expenditure throughout the year.
Income and expenditure budgets and forecasts are produced on a rolling five-year basis
and these are reviewed monthly. The expenditure budget for all funds for the 2024/25
year is approximately £2.500,000. Based on the above, an ongoing reserve of between
£415,000 and £625,000 is appropriate.
The balance on the General Fund as at 31 August 2024 was £711,463 with Free Reserves of
£528,71 o thus currently, reserves are within the required range.
5.6 Restricted Funds
Restricted Funds are given for reslricted purposes and are set aside for specific projects at
the request of the donor. The two main operative Restricted Funds are social action work
The Jericho Road Project and Vision 2030.
The Jericho Road Project showed a surplus of £5,367 for the year.
The purpose of the Vision 2030 fund is to help ministry expansion on our existing 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 to our funding partner, Triodos
Bank, and secondly to fund further development. The further development planned for
the Catford site commenced in July 2024 and was completed in November 2024.
In other Restricted Funds, the restricled fund opened at the start of the pandemic, the
Hope Fund, continued to offer support and relief to those locally and internationally who
are severely affected by coronavirus or other crisis needs. The Hope Fund had external
donations of £13,624 in the year and at the year-end a balance of £18,755 remained lo
be disbursed.
We continue to receive and disburse funds through our Ukraine fund to support Ihose
impacted by the ongoing conflict in Ukraine.

King's Church London
Trustees, report
For the year ended 31 August 2024
5.7 Grant-making policy
Donations are made to both institutions and individuals by the charity, as part of
achieving its activities and objectives. Gifts to individuals represent responses to particular
needs and support for those working overseas.
6. PLANS FOR FUTURE PERIODS
As stated earlier in this report it has been a very encouraging year of progress at King's
with healthy growth at all four of our sites. As we look ahead, we continue to plan to
respond to growth and strengthen the church by reviewing and increasing our midweek
groups, courses and seminars that serve our church community. foster friendship
encourage them in their faith.
Completing the major refurbishment of the Catford Site will remain a priority to ensure that
it has a new lease of life and serve what remains our most attended site. We will also be
reviewing the suitability of our current Beckenham venue as it continues to gather more
people and grow.
We also find ourselves on the cusp of a significant generational change in leadership of
the church with the baton being passed to Joe Macnamara who will become Lead
Pastor from September 2025.
steve Tibbert the currenl Senior Pastor, will remain an integral part of the leadership and
eldership team for the next few years to help retain strength and experience in the team
and the church.
The church has been extremely positive about the planned changes so plans are
continuing to progress to ensure a smooth transition.
We have continued to protect a very strong reserve base now and going forward. This
enables the church to maintain consistent operational delivery.
The 5-year forecast also continues lo indicate robust finances to undergird the work of the
church going forward and the church will continue to work out and develop its vision as
spelled out earlier in this report.
We will also continue to review our general processes and staffing structures to ensure we
are constantly meeting the current needs of the church.
The overall financial aim is to realise further expansion whilst continuing to pay off the
church's bank debt at least as fast as the existing schedule.

King's Church London
Trustees, report
For the year ended 31 August 2024
7. STATEMENT OF TRUSTEES, RESPONSIBILITIES
This Trustees, Report and audited financial statements are prepared in accordance with
the Memorandum and Articles of Association, the Companies Act 2006, the Charities Act
2011 and the Charities Statement of Recommended Practice IFRS10212019.
Law applicable to charities in England and Wales requires the Trustees to prepare
financial statements for each financial year which give a true and fair view of the
charity's financial activities during the year and of ils financial position at the end of the
year. In preparing financial statements giving a true and fair view, the Trustees should
follow best practice and:
select suitable accounting policies and then apply them consistently;
make judgements and estimates which are reasonable and prudent;
state whether applicable accounting standards have been followed, subject to
any material departures disclosed and explained in the financial statements; and
prepare the financial statements on a going concern basis unless it is inappropriate
to presume that the charity will continue in operation.
The Trustees are responsible for keeping accounting records which disclose with
reasonable accuracy the financial position of the charity and which enable them to
ensure that the financial statements comply with the Companies Act 2006. Being
responsible for safeguarding the assets of the charity they ensure reasonable steps are in
place to prevent and detect fraud and other irregularities.
Each of the Trustees at the date of approval of this report confirms that:
l. So far as the Trustees are aware, there is no relevant audit information of which the
charity's auditors are unaware; and
2. the Trustees have taken all the steps that they ought to have taken to make
themselves aware of any relevant audit information and to establish that the
charity's auditors are aware of that information.
This confirmation is given. and should be interpreted in accordance with, the Companies
Act 2006.
8. AUDITORS
Sayer Vincent LLP have indicated their willingness to continue in office as auditors.
AtrTr£L 10
Appr
ve
by the Trustees on
and signed on their behalf by
Osbert Klass

Independent auditor's report
To the members of
King's Church London for the year ended 31 August 2024
Oplnion
We have audited the financial statements of King's Church London (the 'charitable company,) for the year
ended 31 August 2024 which comprise the statement of financial activities, balance sheet, statement of
cash flows and notes to the financial statements, including significant accounting policies. The financial
reporting framework that has been applied in their preparation is applicable law and United Kingdom
Accounting Standards, including FRS 102 The Financial Reporting Standard applicable in the UK and
Republic of Ireland(United Kingdom Generally Accepted Accounting Practice).
In our opinion, the financial statements..
Give a true and fair view of the state of the charitable company's affairs as at 31 August 2024 and of
its incoming resources and application of resources, including its income and expenditure for the
year then ended
Have been properly prepared in accordance with United Kingdom Generally Accepted Accounting
Practice
Have been prepared in accordance with the requirements of the Companies Act 2006
Basls for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAS (UK)) and
applicable law. Our responsibilities under those standards are further described in the Auditor's
responsibilities for the audit of the financial statements section of our report. We are independent of the
charitable company in accordance with the ethical requirements that are relevant to our audit of the
financial statements in the UK, including the FRC'S Ethical Standard and we have fulfilled our other ethical
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.
Conclusions relating to golng concern
In auditing the financial statements, we have concluded that the trustees, use of the going concern basis of
accou nting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events
or conditions that, individually or collectively, may cast significant doubt on King's Church London's ability
to continue as a going concern for a period of ai least twelve months from when the financial statements
are authorised for issue.
Our responsibilities and the responsibilities of the trustees with respect to going concern are described in
the relevant sections of this report.
18

Independent auditor's report
To the members of
King's Church London for the year ended 31 August 2024
Other Information
The other information comprises the information included in the trustees, annual report other than the
financial statements and our auditor's report thereon. The trustees are responsible for the other
information contained within the annual report. Our opinion on the financial statements does not cover the
other information and, except to the extent otherwise explicitly stated in our report, we do not express any
form of assurance conclusion thereon. 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 i nconsistencies or apparent material m isstatements, we are requ ired to determine
whether this gives rise to a material misstatement in the financial statements themselves. If, based on the
work we have performed, we conclude that there is a material misstatement of this other information, we
are requ ired to report that fact.
We have nothing to report in this regard.
Opinions on other Matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit-
The information given in the trustees, annual report for the financial year for which the financial
statements are prepared is consistent with the financial statements., and
The trustees, annual report has been prepared in accordance with applicable legal requirements.
Matters on which we are required to report by exception
In the light of the knowledge and understanding of the charitable company and its environment obtained in
the course of the audit, we have not identified material misstatements in the trustees, annual report. We
have nothing to report in respect of the following matters in relation to which the Companies Act 2006
requires us to report to you if, in our opinion:
Adequate accounting records have not been kept, or returns adequate for our audit have not been
received from branches not visited by us., or
The financial statements are not in agreement with the accounting records and returns- or
Certain disclosures of trustees, remuneration specified by law are not made., or
We have not received all the information and explanations we require for our audit- or
The directors were not entitled to prepare the financial statements in accordance with the small
companies, regime and take advantage of the small companies, exemptions in preparing the trustees,
annual report and from the requirement to prepare a strategic report.

Independent auditor's report
To the members of
King's Church London for the year ended 31 August 2024
Responsibilities of trustees
As explained more fully in the statement of trustees, responsibilities set oui in the trustees, annual report,
the trustees (who are also the directors of the charitable company for the purposes of company law) are
responsible for the preparation of the financial statements and for being satisfied that they give a true and
fair view, and for such internal control as the trustees determine is necessary to enable the preparation of
financial stalements that are free from material misstatement, whether due to fraud or error.
In prepari ng the financial statements, the trustees are res ponsible for assessi ng the charitable com pany's
ability to continue as a going concern, disclosing, as applicable, matters related to going concern and
using the going concern basis of accounting unless the trustees either intend to liquidate the charitable
company or to cease operations, or have no realistic alternative but to do so.
Auditor's responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are
free from material misstatement, whether due to fraud or error, and to issue an auditor's report that
includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit
conducted in accordance with ISAS (UK) will always detect a material misstatement when it exists.
Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate,
they could reasonably be expected to influence the economic decisions of users taken on the basis of these
financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design
procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of
irregularities, includ i ng fraud. The extent to which ou r procedu res are capable of detecti ng i rregu larities,
including fraud are set out below.
Capability of the audit in detecting irregularities
In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and
non-compliance with laws and regulations, our procedures included the following-
We enquired of management, which included obtaining and reviewing supporting documentation,
concerning the charity's policies and procedures relating to..
Identifying, evaluating, and complying with laws and regulations and whether they were aware of
any instances of non-compliance.,
Detecting and responding to the risks of fraud and whether they have knowledge of any actual,
suspected, or alleged fraud-,
The i nternal controls established to m itigate risks related to fraud or non-compliance with laws
and regulations.
We inspected the minutes of meetings of those charged with governance.
20

Independent auditor's report
To the members of
King's Church London for the year ended 31 August 2024
We obtained an understanding of the legal and regulatory framework that the charity operates in,
focusing on those laws and regulations that had a material effect on the financial statements or that
had a fundamental effect on the operations of the charity from our professional and sector experience.
We communicated applicable laws and regulations throughout the audit team and remained alert to any
indications of non-compliance throughout the audit.
We reviewed any reports made to regulators.
We reviewed the financial statement disclosures and tested these to supporting documentation to
assess compliance with applicable laws and regulations.
We performed analytical procedures to identify any unusual or unexpected relationships that may
indicale risks of material misstatement due to fraud.
In addressing the risk of fraud through management override of controls, we tested the
appropriateness of journal entries and other adjustments, assessed whether the judgements made in
making accounting esiimates are indicative of a potential bias and tested significant transactions that
are Ltnusual or those outside the normal course of business.
Because of the inherent limitations of an audit, there is a rlsk that we will not detect all irregularities,
including those leading to a material misstatement in the financial statements or non-compliance with
regulation. This risk increases the more that compliance with a law or regulation is removed from the
events and transactions reflected in the financial statements, as we will be less likely to become aware of
instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather
than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.
A further description of our responsibilities is available on the Financial Reporting Council's website at:
www.frc.or
.uk
auditorsres
onsibilities. This description forms part of ou r auditor's report.
Use of our report
This report is made solely to the charitable company's members as a body, in accordance with Chapter 3 of
Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the
charitable company's members those matters we are required to state to them in an auditor's report and
for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to
anyone other than the charitable company and the charitable company's members as a body, for our audit
work, for this report, or for the opinions we have formed.
Noelia Serrano1Senior statutory aud itor)
Date: 20 May 2025
for and on behalt ot sayer Vincent LLP, Statutory Auditor
I l O Golden Lane, LONDON, ECI Y OTG
21

King's Church London
stalemenl of flnancial activities
For the year ended 31 August 2024
Unrestricted
funds
Reslricled
funds
Total 2024
Unreslrieled
funds
Reslricled
funds
Total 2023
Notes
Income
Donations
2,044,281
429,761
2,474,042
2,151,277
375,482
2.526,759
Charflable activities
Community & Oulrea¢h
200,804
400
201,204
192.782
192,782
Other trading aclivilies
Premises rental Income
Olhor
43,306
400
250,522
3.499
293,828
3.899
24,665
255,859
13,000
280,524
13.000
Total Incom•
2,288,791
684,182
2.972,973
2,368,724
644.341
3,013.065
Expènditure on charltabl• actlvltl8$
Costs of aclivities in furtheran￿ of the
objects of the ch8rily'.
Worship
Communlty
Outreach
1.037.707
742.863
850.221
1.037,707
742,863
1,326,848
978.278
700,103
775.636
978,278
700,103
1.206,013
476,627
430.377
Total charltable •xp•ndlturè
2,630,791
476.627
3,107,418
2.454,017
430,377
2.884,394
Net {exp¢ndlturell Income
15
{342.0001
207.555
1134,4451
185,2931
213.964
128,671
Tr8nsfers belween funds
15, 17
196.564
1196,564}
211,4aO
1211.4001
N•t movement In funds
{145,4361
10,991
{134,4451
126,107
2,564
128,671
Reconclll8tl¢n of funds:
Total funds brought forward
6.070,399
891,081
6,961.480
5.944,292
888,517
6,832.809
Total funds ¢arrt•d fonvard
5,924,963
902.072
6,827.035
6,070,399
891,081
6,961,480
All transactions are derived from continuing aclivili8s.
All recognised gains and losses are Induded in the Slalemenl of financS81 actlvltles.
The Slalemenl of financial activities also complies with tho r$quirements for an income and expenditure account under the Companies Act 2006.
22

King's Church London
Balance sheet as at 31 August 2024
Company number 4074651
2024
2023
Notes
Fixed assets
10
6,910,449
6,923,836
Current assets
Debtors
Cash at bank and in hand
11
265,306
1,293,841
1.559,147
232.901
1,398,353
1,631,254
Creditors: Amounts falling duo wlthln
ono ￿ar
Net current assets
12
1295,777
1,263,370
163,016
1.468,238
Total assets less Gurrent liabilities
8,173,819
8,392,074
Creditors: Amounts falllng due after
more than one year
13
11,346,784)
(1,430,594)
Net assets
6,827,035
6,961,480
Represented by Fund$
Unreslrtcted Funds
Gener81 Fund
Designated Propety Fund
15, 16
15, 16
711,463
5,213.500
5,924,963
738,464
5,331,935
6,070.399
Restricted Funds
17
902,072
891,081
Total funds
6,827,035
6,961,480
Approved by the Trustees on
Osbert Klass
23

King's Church London
statement of Cash Flows
For the year ended 31 August 2024
2024
2023
Cashflows from operating activitles
Ntsl (Expendilurell income
{ 134,4451
128.671
Adjustmenis for=
Depreciatlon
Interest expense
D$crease in Trade and other recoivables
Increase In Trade and other payables
219,635
111.245
{ 32,405)
325,368
204.792
51,425
272.632
42,5981
Cash Ilows (provlded by) I generated from opèratlons
Interest paid
289,398
614,922
{111.2451
151,425}
Nèt cashflow from operatlng a¢tlvltlès
178.153
563,497
Cashflows from Investlng a￿1vItIeS
Purchas8 of prop8rty plant and equiprnenl
Disposal of property plant and equipment
Proceeds on disposal of property plant and eoulpment
Interest receivad
Net cash (used inl Invesllng 8Ctivilies
1206,2481
1206.2481
Cashflows from financing
Capital repayments on bank loans
Capltal repaymènls of other loans
Proceeds from new bank loans
Nel cash (used in) financing a¢livllies
Chang• In cash and cash equlvalent In thè year
Cash and cash ¢quSvalents at the beginnlng of thè yèar
Cash and cash equivalents at th8 ènd of the year
{76,417)
{ 80,4781
176.417)
180,4781
483,019
104,512
1.398,353
1,293.841
915,334
1,398,353
Notè to th• cashflow12024}
At 1 September
2023
Cash flows
At 31 August
2024
Cash al bank
1.398.353
1104.5121
1.293,841
Deduct loans..
Loans falling duè wthin one year
Loans falling due after morè Ihan one year
Net cash
{76.4171
11,430,594
108,658
17,393)
83,810
28,095
183.8101
1,346.7841
136.753
Note to tha cashflow12023)
At 1 Sèptember
2022
Cash flows
At 31 August
2023
Cash al bank
915,334
483,019
1,398.353
Deduct loans..
Loans falling duts wthin one year
Loans falling due after morè than one year
Net cash
{84,6001
11,502,889
672,155
8,183
72,295
563,497
176,4171
{1,430,5941
108.658
24

King's Church London
Noles to the financial statements
For the year ended 31 August 2024
Accountlng pollcle$
The financial slalemenls have been prepared in accordance with the Companies Act 2006, Charities Act 20118nd the
Financial Reportlng Standard 1021"FRS102"18nd Ihe related Slalemenl of Recommended Praclice appllcable lo Charities
120191. King's Church London is a public benefit entity as defined by FRS102.
1.1 Accountlng conventlons
Golng concern
The trustees consider that there are no material uncertalnlles about the charity's ability lo conllnue as a going concem for the
following reason.
1. The church carries subslanlial liquid reseNes in accordance with its reserves policy.
Hlstorical cost conventlon
The financial statements have been prepared under the historical cosl convention, as modified by the revaluation of certain
fixed assets.
1.2 Funds
The General Fund and the Deslgnaled Property Fund represent the funds of the charlly that are not subject to any
reslriclions regarding their use and are available to further the objectives of the charity.
The purposes of the Reslricled Funds are shown in note 17 of the financial statements.
The Designated Property Fund represents the book value of the charills interest In land and buildings, less oulstandlng
loans which were incurred for the purchase and development of property Inoles 10, 14, 15 and 161.
1.3 Income
Donations are recognised when received. Income lax recoverable on gift aid donatlons is recognised when the income is
recognls&d.
Grants and legacias are accounted for when the charity is notified of its enlillements, the amount due Is quantifiable and
receipt is reasonably certain.
Other income is accounted for on a receivable basls.
1.4 Apportlonment of resources
Staff costs have been apportloned across the aclivlly areas and governance uslng a Staff Cost Ratio {nole 81.
The Staff Cost Ratio is calculated by assessing the contribution each employee makes to each aclivily.
25

King's Church London
Notes to the financial statements
For the year ended 31 August 2024
1.5 Propartlo$ & Flxed Assets
Valuatlon of properties
Propertles are either included at cost or valuation together with subsequent development expenditure sublecl to
impairment revlew. Further details are provided in note 10.
Valuatlon of Fixed Assets
Fixed Assets are valued using the Costs Basls Model.
Depreclatlon
Depreciation 18 calculated lo write off the cost of depreciable assets in equal inslalments over their eslimaled useful lives.
Eslimaled useful lives are as follows:
Buildings
Fixtures, fittings and equipment
50
31010
years
years
A full yearfs depreciation is charged in the year of acquisition and none in the year of disposal.
Capltallsatlon
The capitslisalion threshold is £10,000 for Indlvidual assets, although assets of lesser value m8y be capilalised if they form
part of a group.
1.6 Concgssionary loans recgived
Interest free loans received are staled 8t the amount received unless measurement of the carrylng amount of the liablllly as a
financial instrument would be materially different.
1.7 Penslons
Penslon cosis relate to payments lo the personal money purchase schemes of employees including to the aulo-enrolmenl
scheme and are charged in the financial ststemenls when they become payable.
1.8 Leases
Flnance Leases
There are currently no Finance Leases
Opgrating leases
Rentals payable under oporaling leases ar8 charged on a slralghl-line basis over the term of the lease.
1.9 Judgements In applylng accountlng pollclo$ and key sources of accounting estlmates
In applying the charlly's accounting pollcies, the Trustees are required lo make judgements, eslimales and assump11ons In
determining the carrying amounts of assets and liabilities. The key estimate and assumption mado in these financial
slalements is considered to be depreciation. which is provided at r81es calculated lo write off the cost less the estimated
residual value of eaGh fixed asset over its eslim8t8d useful life.
26

King's Church London
Notes to the financial statements
For the year ended 31 August 2024
Income
2 Donatlons
Unrestricted
funds
R8Strlcted
funds
Total 2024
Unrestrlcted
funds
Restrlctèd
funds
Total 2023
Regular glving
Incoma lax recoverabl8
Regular glvlng - Vision 2030
Income lax recoverable - Vision 2030
Legacies
1,739,178
305,003
47,404
6,884
314,449
61.024
1.786.582
311,887
314,449
61,024
100
1,703.455
292,804
47,765
9,047
266,054
52,616
1.751,220
301,851
266.054
52,616
155,018
100
155,018
2,044,281
429,761
2,474,042
2,151,277
375,482
2,526,759
Donations of £153,563 were received from key management personnel in the year (2023= £162,420).
3 Communlty & Outroach Income
Unrestrl¢tèd
funds
Restricted
funds
Total 2024
Unrestrl¢t8d
funds
Restrlcled
funds
Total 2023
External Ministry Support
Church aclivilles
FP Impact Training fees
Other Income
73.663
108,340
73,663
108,340
400
18,801
55.085
124,575
55,085
124,575
400
18,801
13,122
13.122
200,804
400
201,204
192,782
192.782
Expenditurè on charitable activitles
4 Worshlp
Unreslrlcted
funds
Restrlcted
funds
Tot812024
Unrestricted
funds
Rèstrleted
funds
Total 2023
Direct staff costs {note 8)
Church activities
Premises apportionment
Administration apportionment
391.009
82,370
257,882
306,446
3QI,009
82,370
257,882
306,446
388.449
68.926
213,194
307,709
388.449
68,926
213.194
307,709
1,037,707
1,037,707
978,278
978,278
27

King's Church London
Notes to the financial statements
For the year ended 31 August 2024
5 CommunSty
Unrestrlcted
funds
Re5trlcted
funds
Total 2024
Unrestrlcted
funds
Restrlctèd
funds
Total 2023
Direct staff costs Inole 81
Church activities
Premlses 8PPOrtionmenl
Administration apportlonment
285,443
58,262
182,404
216.754
285,443
58,262
182.404
216,754
282,907
48.753
150,795
217.648
282,907
48.753
150,795
217,648
742.863
742,863
700,103
700.103
6 Outreach
Unrestricted
funds
Restrlcted
funds
Total 2024 Unrestri¢tèd
funds
Rèstrlcted
funds
Total 2023
Direct staff costs {nole 81
Church activities
284,553
60.270
115.464
26,849
400.017
87,119
281,946
50,433
143,454
20,894
425.400
71,327
Gifts
Ukraine relief
Zimbabwe
South Africa, Romania & China
Newfrontiers
Gifts lo Church Plants
Other giving
3,045
15,200
4,500
15.000
8,609
46.120
3,045
15.200
4,500
15.000
8,609
46.120
4.434
10,000
8.250
7,500
5,644
26,280
4,434
10,000
8,250
7,500
5,644
26,280
Premises apportionment
Adminlslralion apportionment
188,695
224,229
331,173
3.141
519.868
227,370
155,996
225,153
259,168
6.861
415.164
232,014
850,221
476.627
1.326,848
775,636
430.377
1,206,013
7 Govemance
2024
2023
Governance costs include:
Auditor's remuneration
13.450
12.600
Governance costs are allocated to charitable activities wthln Admlnlslralion costs.
28

King's Church London
Notes to the flnancial statements
For the year ended 31 August 2024
8 Staff costs
2024
2023
staff costs Is eomprlsed of
Wages and s¥lari¢s
Social security costs
Pension ¢osis
1.309.376
128,722
166,856
1,289,272
124,965
181,583
Staff expenses
Tralnlng costs
40.488
10,190
35,030
12,270
1,655,632
1.643.120
Allocatlon by actlvjty
All staff costs
2024
Unreslricled slaff costs ratios
2023
Worshlp
Community
Outreach
41
29
30
100
391.009
285.443
400,018
1.076,470
388.449
282,907
425.399
1,096,755
Adminislralion
Govornance (allocated Tmlhln tho Administration apportlonmanll
Prernise8
496.944
25,193
57,025
504,709
26.109
15,547
1.655,632
1,643,120
The staff costs ratios are calculated by assessing the conlribullon each employee makes to each acllvlly.
The unreslricled stsff costs ratios have beèn used as Ihe basis for apportionlng unreslricled premis85,
administration and chur¢h activily costs Inoles 4, 5 & 61. Reslricted staff costs are allocaled specAfically.
The averagè monthly number of employees duHng the year was 3812023.. 401.
The average monthly number of full lime oquivalent employees during the year was 32 12023.. 331.
Thtsra were no employees whose $818ry entitlement in the year was in Ihe range £60,000 10 £70,00012023= bNo),
there were 2 employees whose salary enlillement was in the range of £70,000 to £80.000 {2023- zero), and one
employee whose s810ry entillement was in the rangè of £go.000 to £100,00012023'.on61
Key managemènt personnel
The church's key management personnel comprise of the Trustees Iwho are not remunerated) and the Senlor
Leadership Team. The lolal employee benefits {including pension) of the key management personnel for the year
Were £393,195, 5 personnel 12023.. £389,558. 5 peTsonnell.
Donations of £153,563 were received from ktsy management personnel In the year {2023.' £162,420).
Terrnlnatlon payrnents
There were no termination paymanls In the year12023.' nlll.
9 Trustees •nd rèlated part5es
Trusteès. exp¢ns•$
No expenses have been incurred by th8 Trustees12023= £NIII.
Ralat•d partles - Tru$te•$
William Dalziel's spouse, Hilary Dalziel was employed as a pastor by the church lo 08.09.24, receiving emoluments
of £12,22212023= £13.3361.
Durlng the year, King's Church London received £65.873 from New Frontiers for cost recharges related lo shared
resources. Steve Tlbbert, Senior Pastor of Klng's Church London Is also a Director of New Frontiers.
29

King's Church London
Notes to the financial statements
For the year ended 31 August 2024
10 Fixed 4ss•ls
The cost model is followed for valuation of Flxed Assets.
Flxtures,
fittings and
équlpment
Land and
bulldings
Total
Cost or valuatlon
Al 1 September 2023
Additions al cost
Al 31 August 2024
9,269,054
425,038
206.248
631.286
9.694,092
206,248
9,900,340
9,269,054
Depr#¢latlon
At 1 September 2023
Charge for the year
At 31 August 2024
2.355,977
185,381
2.541,358
414,279
34,254
448,533
2,770,256
219,635
2,989.891
Nèt book value$
At 31 August 2023
6,913.077
10,759
6,923,836
At 31 August 2024
6,727,696
182,753
6,910,449
Land and bulldlngs
Land and buildings al 31 August 2024 is comprised of..
Cost or
valuallon
Cumulative
D&preclatlon
Nèt book
value
Property al Catford Hlll
Property al Meadowcourt Road
Properly al Downham Way
1,991,881
6.677,173
600.000
9.269.054
689,208
1.505.770
161,000
2,355,977
1,302,673
5.171.403
439.000
6,913.077
Valuation of land and buildlngs
The most recent slle valuations of the above prop6rt1es are=
Property at Cafford Hill
Property al Meadowcourt Road
Proparty al Downham Way
3.900,000
7,850,000
785,000
12,535.000
Valued by Savills in 2016
Valued by Jones Lang Lasalle in 2019
Valued by Savills in 2016
The property al Meadowcourt Road has the Trlodos bank loans 8tscured on il (see notes 12, 13 and 141.
The lille deeds lo the Carford Hill and Downham Way propertSes are held by The London Baptist Property Board Limited
under trust deeds by which King's Church London is entitled lo occupy, enjoy and have the benefit of thè trust premises.
The London Baptist Property Board has a mlnorlty interest in the valua of the Catford Hlll property as disclosed in note 19.
30

King's Church London
Notes to the financial statements
For the year ended 31 August 2024
11 Debtors
2024
2023
Debtors (including property lets)
Housing support scheme
Prepaid exptsndllure
Income tax recoverable on Gift Aid
29,448
137,000
33,539
65,319
265,306
36,865
137.000
37.743
21,293
232,901
12 Credltors: Amounts f•lllng du8 wlthln one year
2024
2023
Loans..
Triodos bank loans (note 141
Accruals..
HM R6venue & Customs PAYE & NIC
Olher accruals & deforred incorne
Olhgr creditors
83,810
76,417
30.999
32,332
148.636
295,777
29.666
31,312
25.621
163,016
13 Credltors: Amounts falllng due aftor more than one y•ar
2024
2023
Triodos bank loans Inole 141
1.346,784
1,430,594
1,346,784
1,430,594
14 Loans
2024
2023
Analysis of loan malurily..
In one year or less
In more than one year but less than five yaars
In more Ihan five years
83,810
404,352
942,432
1,430,594
76,417
371,115
1,059,479
1,507,011
The Triodos bank108ns are payable over 15 years and are at a rale of 2.3Wo ovor base, with a minimum of 3.05¢A. Tho
loans are secured on property 8s referred to in note 10.
31

King's Church London
Notes to the financial statements
For the year ended 31 August 2024
15 Unr•strtct•d funds
2024
2023
General
fund
Dfjsignaled
property
fund
Totsl
Gener81
fund
De5ign8ted
property
fund
Total
unrestrict8d
funds
unrestricted
fund5
Not lexpendllurel I Income
1156,6191
1185,3811
{342,0001
100.088
1185.3811
185,2931
Transfers between funds
129,618
66,946
196,564
167.392
44,008
211.400
Net m¢vom•nt In funds
127,0011
{118,4351
1145,4361
267,480
{141,3731
126.107
R¥¢onclllatlon of funds..
Total funds al 1 September 2023
738,464
5.331,935
6,lJ70,399
470.984
5.473,308
5,944,292
Total funds al 31 August 2024
711,463
5.213.500
5,924.963
738,464
5.331.935
6.070.399
Expendllure Sn the Designated Property fund represents depreclallon on properties.
The transfer of £66,946 into thè Dèsignated Property Fund represents the reduction in property-relaled liabilities during the period.
16 Analysls Of n81 assets by fund
General Deslgnated
fund
property
fund
Restrlcted
funds
2024 Total
funds
Tangible fixed ass8ts
182.753
6.339,760
387.936
6.910.449
Current 8ssets'.
Property held for sale
Dablors
254,938
10,368
265,306
Cash at bank and in hand
790,073
503,768
1,293,841
Creditors- Amounts fallSng due ￿thIn one year
1222,4441
173.3331
1295,777}
Creditors= Amounts falling dua after more than one year
1293,8571
11.052.927)
{1,346,7841
Total net assets
711.463
5,213,500
902.072
6,827.035
32

King's Church London
Notes to the financial statements
For the year ended 31 Augusl 2024
17 Restrt¢ted funds
Transfers
between
Balance at
funds 31 August 2024
Balanc8 at
1 September 2023
Movement in resources
In¢ome
Expendlture
Soclal A¢tlon Jerfcho Road Project
70.598
291.640
{271.3991
114.8731
75.966
Vision 2030
Hope Fund
Ukralne
Other
Soulh Lee Church Fund
375,473
13,625
3.044
400
(203,7821
11,4461
{171,6911
110,0001
16,576
4,459
1,688
797.760
18,755
7,503
2,088
797.760
Total restricted funds
891.081
884,182
1476.6271
1196.564
902.072
So¢lal A¢tlon J•rl¢ho Road Prolg¢1
This fund supports Klng's Church London's mlnlslrSes to Ihe poor in London.
The Housing Benefil income could be treated as Unrestricted Funds, however the income received from Housing Benefit
is directly used lo fund the housSng prolect and forms part of the annual Housing Benefil application and therefore it is Irealed
as Reslricled Funds.
The nel Iransler of1£14,8731 from thSs fund Ss comprised of..
£25.000 donation in from King's Church London's general fund, plus
£10.000 donation in from the Hope fund. less
£49,873 payment ol admlnistration costs incurred by King's Church London's general fund
Vlslon 2030
Thls fund provides for the refurbishment. acquisition and inveslrnenl in new and existing siles and related costs.
The purchase and development of the property al Meadowcourt Road was funded in large part by borrowng and 8$
a resull there will be an ongoing expense until 2035. The loan is htsld in the designated pioperty fund.
2010to
2023
Summary of Vlslon 2030 Fund to date
Total
2024
Incorne received in fund
Purchase and refurbishment of property
Other expenditure, Including loan inleresl
Amount to be raised in future years
7,465,505
17,636,990)
1.347,9321
1.519,417
375,473
7,090,032
{1 fj5,8791 17,521,111)
187.9031
1,260.029
171,691
1.691.108
Hope Fund
Th13 fund provides specific support to ihe vulnerable and those mosl in need. This is primarily distributed locally through
the Jericho Road Project and also InlernalSon8lly In response to crisis.
Ukralne
This fund Is used to bring aid and relief lo those severely Impacted by the war In Ukraine.
33

King's Church London
Notes to the financial statements
For the year ended 31 August 2024
17 Restrlcied fund$ {¢ontlnuadl
other
Various donations for olher purposes, inclLJding offerings towards projects in Zimbabwe.
South Lee Church
This fund identifies the procéeds of Ihe South Lee Church buSldSng which was sold in 2004, which is invested in
property and othe￿iSe in the charllls charitable purposes.
18 Lease commitments
Al 31 August 2024. the charity had no operating leases
Flxtures,
ritlings and
equipment
Land and
bulldlngs
2024
Total
2023
Total
Within one year
Between one and five years
56,400
169,200
56.400
169,200
56.400
225,600
225,600
225.600
282.000
19 Minority Int•r•st
2024
2023
The London Baptist Property Board Declaration of trust dated 2004
Minorily Interest in property at Catford Hill
(note 101
387,936
387.936
387,936
387,936
This forms that part of thè South Lee ChLJrch restricted fund Isaa note 17) that Ss invested in property.
34