## **KINGS CHURCH CENTRE NORWICH (A charitable company limited by guarantee)** 

## **Registered Company No:3986517 Registered Charity No:1083049** 


**CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST OCTOBER 2022** 



**KINGS CHURCH CENTRE NORWICH** 

## **FOR THE YEAR ENDED 31 OCTOBER 2022** 

|**CONTENTS**||
|---|---|
||**Page**|
|Charity Information|1|
|Report of the Trustees|2 to 11|
|Report of the Auditors|12 to 13|
|Consolidated Statement of Financial Activities|14|
|Consolidated & Charity Statement of Financial Position|15|
|Consolidated Statement of Cashflow|16|
|Notes to the Consolidated Financial Statements|17 to 31|





**KINGS CHURCH CENTRE NORWICH** 

## **FOR THE YEAR ENDED 31 OCTOBER 2022** 

## **CHARITY INFORMATION** 

**REGISTERED COMPANY NO.** 3986517 **REGISTERED CHARITY NO.** 1083049 **REGISTERED OFFICE** The King's Centre King Street Norwich NR1 1PH **TRUSTEES/DIRECTORS** Mr D Pull (resigned 31/03/2023) Mr I Nelson Mr J Drew (appointed 02/11/2022) Mr J Pereira Mr K Magee (resigned 29/09/2022) Mr K Vinson Mr S Jones Mr T Foster Mrs H Sasraku-Neequaye **SECRETARY** Mr K Vinson 

## **SECRETARY** 

## **OTHER KEY MANAGEMENT AND PERSONNEL:** 

**LEADERSHIP OF CHURCH &** Mr T Skipper - Elder **COMPANY MEMBERS** Mr G Hope - Elder Mr M Tutt - Elder Mr A Hopley - Elder Mr S Jones - Elder Mr P Hatton - Elder Mr S Hope - Elder 

## **CENTRE MANAGER** 

Miss A Hopley 

## **AUDITORS** 

MA Partners Audit LLP 7 The Close Norwich NR1 4DJ 

**1** 



**KINGS CHURCH CENTRE NORWICH** 

## **FOR THE YEAR ENDED 31 OCTOBER 2022** 

## **REPORT OF THE TRUSTEES** 

The Trustees, who are also directors of the Charity, are pleased to present their annual report together with the consolidated financial statements of the Charity, also known as King's Community Church, and its subsidiary for the year ended 31st October 2022. The Trustees confirm that the annual report and consolidated financial statements of the Charity comply with current statutory requirements, the requirements of the Charity's governing document and the provisions of the Statement of Recommended Practice (SORP), applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015) as amended by Update Bulletin 1 (effective 1 January 2015). 

Since the Charity qualifies as small under section 383, the strategic report required of medium and large companies under The Companies Act 2006 (Strategic Report and Director's Report) Regulations 2013 is not required. 

## **Structure, governance and management** 

## _**Governing Document**_ 

The Charity is a charitable company limited by guarantee and has no share capital. The liability of each member is limited to £10. At the year end there were 7 members (2021: 7). It is governed by a Memorandum and Articles of Association which were last amended on 13th October 2000. The legal and administrative information set out on page 1 forms part of this report. 

## _**Trading Subsidiary**_ 

The Charity has a wholly owned subsidiary, King's Church Centre Facilities Norwich Ltd, the activities of which include King's Conferencing and King's Coffee. All of the profits generated by the subsidiary and not required for day to day operations are Gift Aided to the Charity. 

## _**Recruitment and appointment of Trustees**_ 

The Trustees, who are also Directors of the Charity for Companies Act purposes, meet regularly and are elected by the existing Board of Trustees and appointed by majority vote. The Board of Trustees seeks to ensure that the skills of the Trustees are appropriately matched to meet the needs of the Charity. Under the requirements of the Articles of Association, one third of the Trustees retire by rotation each year and if appropriate offer themselves for re-election. A full list of trustees can be found on page 1. 

## _**Trustee induction and training**_ 

All existing Trustees are familiar with the practical work of the Charity and with their responsibilities as Trustees and Directors. New Trustees would be appointed from the pool of people who are already familiar with the practical work of the Charity. New Trustees are also given training and reference material with regard to their responsibilities as Trustees and Directors. 

## _**Organisational structure**_ 

The Board of Trustees is supported by separate teams for the various divisions of the Charity all of which are accountable to the Board of Trustees. The teams meet regularly and deal with the day to day management and running of the Charity. The Elders have responsibility for the spiritual direction of the Charity. 

## _**Risk Management**_ 

The Trustees have examined the major business and operational risks which the Charity faces and confirm that systems have been established to enable regular reports to be produced so that the necessary steps have been taken to lessen these risks. The procedures are periodically reviewed to ensure they continue to meet the needs of the Charity. 

## **Objectives and activities** 

The principal activity of the Charity is the advancement of the Christian faith through worship and work within the local community. These objectives are carried out via the Charity and it's trading subsidiary. 

**2** 



**KINGS CHURCH CENTRE NORWICH** 

**FOR THE YEAR ENDED 31 OCTOBER 2022** 

## **REPORT OF THE TRUSTEES (CONTINUED)** 

## _**Community Projects**_ 

Part of the core vision for King’s Community Church – stemming from our Christian faith – is to ‘empower the poor’ and to ‘foster the fringe’. In essence, our community activities are always aimed at providing for those in practical or emotional poverty and looking to build community and friendships with those who are isolated and lonely. 

## _**King’s Care**_ 

King’s Care has run at the King’s Centre since 2002 and provides a weekly drop in for homeless and vulnerable people in Norwich. We provide a two-course hot meal, laundry facilities and showers. It helps those attending to achieve their potential by meeting some of their practical needs and building them into a network of strong positive friendships around the project and the church. 

King’s Care runs every Sunday afternoon and is part of a Norwich wide service – called Nourish. Nourish aims to provide 7 days a week all year-round food support for the homeless in Norwich. This is provided by the Salvation Army and King’s – coordinated by the charity The Feed 


Nourish works with various homeless organisations & charities across the city including Norwich City Council, St Martins Trust, The Magdalen Group and YMCA. Referrals for the meals comes from these teams which ensures that the meal support is directed to those in most acute need and without any cooking facilities. 


Working closely with other homeless charities and organisations in the city has been a significant development for King’s and has strengthened our work with this vulnerable group of people. 

Over the winter of 2021/22 King’s also supported Norwich City Council’s winter shelter by providing a laundry service for the sleeping bags used by the guests using the shelter. King’s also provided Christmas gifts for all those using the winter shelter on Christmas Eve and Christmas Day. 

## _**Baby & Toddlers**_ 

On a Wednesday and Thursday morning during term time King’s offers a toddler group for parents in the surrounding area. Our numbers have steadily grown over the year and we were up to between 15 and 20 children per session by October 2022. The age range of children since Covid-19 has been lower than before. Most children are under 3, although we do have some who come until they start school (age 4). This is probably due to more children taking up nursery places and not having the toddlers that would have started during Covid-19 growing up with us. A few team members have stopped helping during the year and so some mornings have been a little stretched to cover, when people are absent due to holidays or illness. 

Children come in at all different stages of development from new-borns up to 4 years - some of them are ready to interact and join in with the various activities and some are not, however, by the time they leave they will all sit down at circle time for stories and songs. It has taken a long time since the group started again after Covid19 to feel like a proper group - rather than just people who all turn up on the same day at the same time. Relationships have now grown stronger between parents and so many now feel more able to welcome others and chat to people. 

We have enjoyed many different activities together including craft, story and songs. 

3 



**KINGS CHURCH CENTRE NORWICH** 

## **FOR THE YEAR ENDED 31 OCTOBER 2022** 

## **REPORT OF THE TRUSTEES (CONTINUED)** 

This year saw the local Council offer free training for Toddler leaders. Helen has attended (and passed) a day paediatric first aid course. Then in the summer term she also attended 6 hours of training over 3 sessions on Speech and Language for preschool. This was really helpful and came with £500 grant which we used to purchase new toys and equipment, including sensory toys, dressing up clothes and lots of books. 

We have many families from different cultural backgrounds. From Eastern Europe, Africa, Asia and the Middle East. On Wednesday mornings about half the families are not British. Several of our regular families have come to Norwich from India, as their husbands are here for work. Wanting to meet people and find activities for themselves and their children, they especially value the friendship found at Toddlers. 

## _**Community Group**_ 

The Thursday Community group was set up for those who regularly attend King’s Care and would appreciate a friendly, fun and safe place to come and relax. This is particularly valued by those who are isolated and lonely due to mental health or old age. Around 10 - 12 people gather each Thursday afternoon. 

A small team of volunteers run the group where people can share a hot drink, play games and relax. The group also have trips out together including a boat trip to the Broads and Christmas lunch together. In the past the group has supported a small local charity that regenerates church grounds & gardens and has gardened together in St Peter Parmentergate, which is across the road from The King’s Centre. 

Since opening up after the various lockdowns due to Covid the group continues to grow in number – group members can also access laundry and shower facilities while the group is running. New volunteers have enabled craft activities to be run, as well as quizzes and bingo. 

## _**Refugee & Asylum Seekers**_ 

Since 2017, King’s has supported the work of Norfolk County Council’s People from Abroad Team as it welcomed Syrian families to Norwich as part of the government Syrian Vulnerable Persons Resettlement Scheme. 

January 2020 saw the winding down of this national scheme and a redevelopment of local government’s response to supporting refugees and asylum seekers. Norfolk County Council continues to welcome vulnerable families from across the world as they resettle in Norwich with specific support in the first couple of years they are in the UK. When a family arrives in Norwich King’s provides food boxes, towels, hygiene packs, crockery for all the families and toys for the children. In the past King’s has hosted Welcome Days for the families, which had to stop from March 2020 due to the pandemic. 


In September 2021 with the troubles in Afghanistan, the UK committed to opening our doors to Afghan refugees. The local councils co-ordinated the resettlement of these families. King has increased their support to provide for these extra families with an offering of just over £8K from King’s Church family. This has enabled King’s to also provide for Afghan families arriving in Norwich with the arrival packs. 

Since Sept 2017 up until October 2022 Kings’ has given arrival packs to 77 families which equates to around 145 adults and an average of 200 children supported as they start their new lives in the UK 

4 



**KINGS CHURCH CENTRE NORWICH** 

**FOR THE YEAR ENDED 31 OCTOBER 2022** 

## **REPORT OF THE TRUSTEES (CONTINUED)** 

## _**The King’s Venue**_ 

King’s Community Church has been leasing the council premises which accommodate The King’s Venue since 2011 with a passion and vision to build relationships and offer support to local residents in the Mile Cross area. Low self-esteem and lack of confidence are challenges we aim to address as well as improving well-being, addressing isolation and loneliness, and empowering individuals through running a variety of groups and activities throughout the week to positively impact the community, run by volunteers many of whom are local. 

The activities are free of charge, with donations received if offered, so that finances do not prevent people attending. The 5-year grant from The Big Lottery, together with some match funding from King’s has helped run these activities as well as allowing investment in equipment and resources to ensure sustainability. 

## _**Cuppa & Catch Up**_ 

We were very pleased to be able to move back from meeting on ZOOM to meeting in person for .our Monday morning drop in coffee morning. The strong relationships of support that have been established in this group have been sustained and members are attending events organised by The Mile Cross site. 


## _**Footsteps Wednesday**_ 


We were pleased to be able to re-launch this pre-school group in person and see it become established under new leadership. 

## _**FISH (Food & Fun in School Holidays)**_ 

This initiative, working alongside Norwich Foodbank, started two years ago and has gone from strength to strength, especially with the increased involvement of volunteers from The Mile Cross Site. 

FISH Families have attended some of the Sunday outreach events organised by The Mile Cross Site, notably the boat trip. 

Families, who would normally receive Free School Meals, are provided with food parcels including activity packs to cover the school holidays when these meals are unavailable. 


5 



**KINGS CHURCH CENTRE NORWICH** 

## **FOR THE YEAR ENDED 31 OCTOBER 2022** 

## **REPORT OF THE TRUSTEES (CONTINUED)** 

## **Conferencing & Coffee Shop** 

With the removal of coronavirus restrictions ‘hospitality’ at The King’s Centre saw a pleasing increase in trade and bookings, confirming a firm foundation for future business development. 

Former clients returned and new ones have been attracted as evidenced by positive feedback and repeat bookings. 

## _**King’s Coffee**_ 


King’s Coffee is a friendly, great value Coffee Shop, frequented by the local community and a popular venue for organisations to meet with clients. 

It also acts as a safe space for those in need of friendship, support and refuge.  KCCN Church Family add to the staff by volunteering over the busy lunchtime ensuring a smile and listening ear are always available. The ‘Pay It Forward’ scheme is well established and supported by KCCN Church Family, providing free food and refreshment as required. 

Volunteer placements have returned to enable individuals to gain confidence and skills that will assist their journey into paid employment.  One young man who struggled on leaving school has now secured a permanent position in a local Coffee Shop. 

The Coffee Shop is also used successfully to host community projects such as the ‘Thursday Group’ and ‘Warm Space’ alongside regular customers and conference clients. 

6 



**KINGS CHURCH CENTRE NORWICH** 

**FOR THE YEAR ENDED 31 OCTOBER 2022** 

## **REPORT OF THE TRUSTEES (CONTINUED)** 

## _**The King’s Conference Centre**_ 

_**“**_ **J** _**ust a note to say thank you very much for hosting us on Tuesday. All of the staff were incredibly friendly and helpful and we had a really good day.”**_ (BBC East) 

The King's Centre is a quality conference venue in the centre of Norwich offering flexible meeting spaces that range from small meetings to large conferences for 650 clients. 

Pre-pandemic bookings were made well in advance; often over a year for large events and this pattern is re-establishing.  Volunteer placements have also lead to employment. 


## _**King’s Catering**_ 


King’s Catering provides food for the Coffee Shop, Conferencing and KCCN events.  The demand in each of these areas has increased over the year and continues to grow.  In response to these changes and reduced demand as the client group were once again able to get out to the shops, King’s Catering moved away from ‘King’s Kitchen Frozen Meals’. 

KCCN is investing in a kitchen upgrade to make the facility more accessible to users. 


King’s Catering has continued to develop their ‘Special Occasion’ cakes range due to excellent reviews, repeat orders and by supporting talent within KCCN. 

7 



**KINGS CHURCH CENTRE NORWICH** 

## **FOR THE YEAR ENDED 31 OCTOBER 2022** 

## **REPORT OF THE TRUSTEES (CONTINUED)** 

## _**Radiate Youth**_ 

‘Radiate’ is our youth work for the 11-18 year old. 

We run a dedicated youth programme at each of our Sunday locations, helping the young people to access the adult teaching programmes and focusing more on issues relevant to them. 

We run a youth group every Friday night, combining a range of social activities with opportunities for the young people to explore how faith relates to their lives.  A team of trained, volunteer youth leaders ensure the welfare and mentoring of young people. 


We would usually take a good number of youth to the Newday Festival, We have experienced an influx of young people and as we head into the new year, we are exploring new ways we can connect with, encourage and serve the young people at King’s. 

## _**Giving**_ 

People at King’s give generously throughout the year to help enable and support all we do as a church family in the city and beyond. Every year we give away a percentage of our regular income and that obtained from specific gift days to organisations in the city, region and internationally to help other charities and churches. This year some of the ways we have given are: 

- Ukraine - £25,541 – to help those afflicted by the conflict in the Ukraine. 

- To the Nations Fund – Church plant in Nijmgen, Netherlands - £30,918 

- Community Empowerment Programme, Kenya  - £2,260 

- Hope Initiative - £16,094 - Continuing to love and serve people in our local communities through a number of practical ways including meal parcels and a laundry service. Provision of meals for rough sleepers and disadvantaged families in Norwich including winter crisis response. 

- Refugees in Norwich - £783 

- Relational Mission - £12,096 - continue to start, strengthen and serve local churches. 

- £48,121 - to help our friends in Kenya provide much needed supplies in response to drought.. 

- Supporting individuals engaged in missionary work abroad - £2,340 

- Other international church planting and support - £7,920 

- Kings Centre redevelopment and refreshment fund - £11,939 

## _**Sundays**_ 

On Sundays, we gathered in 3 locations around Norwich: The Golden Triangle (‘City West’), Mile Cross estate, and in the City Centre for worship and teaching. We regularly gather around 3-400 people, from all walks of life, social groups and ages and anyone is welcome to come and join us, whatever their background or beliefs. 

We also stream our Sunday gatherings and daily bible studies on YouTube. 

## _**Life Groups**_ 

During the week we gather in smaller groups (mainly in people’s homes), called LIFE Groups. These are an essential part of the life of King’s, as people share food, grow in their friendships and learn together what it means to follow Jesus in today’s world. We have around 27 groups who meet across the city and surrounding villages. 


8 



**KINGS CHURCH CENTRE NORWICH** 

## **FOR THE YEAR ENDED 31 OCTOBER 2022** 

## **REPORT OF THE TRUSTEES (continued)** 

## **Financial review** 

## _**Overall**_ 

The Charity has again been blessed by a good level of income which it has enabled it to maintain a high level of expenditure on Charitable activity during the year. Details of the primary sources of income can be seen in note 3 to the accounts. 

There has been a marked increase post Covid-19 in the activities of the Coffee Shop and Conferencing functions. In addition donations received have shown a marked increase. This has allowed the Charity to maintained a high level of grant and donation expenditure and have a net income of £91,655. The Trustees' projections indicate the Charity should have sufficient funds to continue for the forseable future. 

## _**Fixed Assets**_ 

A total of £10,364 (2021 : £10,531) has been expended in the year on the acquisition of functional fixed assets. 

## _**Reserves Policy**_ 

The Trustees, having considered the potential risks facing the Charity and assessed the future plans, would wish to retain free reserves sufficient to meet at least three months expenditure, meeting all contractual obligations. Consideration is also given to holding sufficient reserves to cover authorised but not contracted for capital expenditure and cyclical maintenance. The Trustees consider that at this level of reserves together with insurance cover they would be able to continue current activities of the Charity. 

At the year end it is calculated that the free reserves necessary to cover the above are £173,010 and at the year end free reserves were £174,309. The Trustees are satisfied with the level of reserves. 

## _**Investment policy and objectives**_ 

In addition to retaining a prudent level of reserves as described above, each year most of the Charity's funds are to be spent in the short term and there are few funds available for long term investment. Funds not required for immediate use are placed on interest bearing short term deposit. In addition, £1 has been invested in the Charity's trading subsidiary company, Kings Church Centre Facilities Norwich Ltd. The Trustees aim to obtain a fair return from their investment in its subsidiary whilst benefiting from the protection afforded to the Charity’s assets by trading through a separate limited company. 

## _**Acknowledgements**_ 

The Charity relies on the generous hearts of individuals and the provision of the Lord to fund its activities. The Trustees are grateful to all those who have contributed time and finances throughout the year to enable the Charity's objects to be achieved. It is not practical to place a financial value on this, however the Charity would not be able to operate effectively without such continued support. In addition, the Trustees would like to particularly thank the following third parties who have provided grants or Donations: 

Norfolk Community Foundation - Norfolk Winter Resilience Fund Norfolk County Council Norwich City Council Norwich Freemen’s Charity Penny Crest Trust R C Snelling Charitable Trust The National Lottery Community Fund 

## _**Public Benefit**_ 

The Trustees confirm they have referred to the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing the Charitable company’s aims and objectives and in planning future activities. 

**9** 



**KINGS CHURCH CENTRE NORWICH** 

## **FOR THE YEAR ENDED 31 OCTOBER 2022** 

## **REPORT OF THE TRUSTEES (continued)** 

## _**Related Parties**_ 

The Charity's wholly owned subsidiary, Kings Church Centre Facilities Norwich Ltd, has a licence from the Charity to operate its activities from the Charity's premises and the subsidiary Gift Aids it's profits to the Charity. The Charity also charges the subsidiary to cover staff and other costs. 

## **Pay Policy for Senior Staff** 

The Trustees, consider themselves, who are also the directors of the Charity, the Elders of the Church and the Centre Manager to comprise the key management personnel of the Charity in charge of directing and controlling, running and operating the Charity on a day to day basis. All Trustees and 2 of the Elders give of their time freely and none of the Trustees received remuneration in this or the previous year for their role as a Trustee. 

The pay of other key management is reviewed annually and normally increased in accordance with average earnings. In view of the nature of the Charity, the Trustees benchmark the pay levels in other Churches of a similar size. Consideration is also given to relative levels of responsibility. 

## **Plans for future periods** 

The Charity plans to continue its ongoing work reaching into the community as well as seeing the Church grow and expand. The Charity is always looking at new initiatives to increase its involvement with the local community and beyond. The management have also ensured an ongoing plan of maintenance of the King's Centre. 

It is intended to expand the Coffee Shop and Conferencing facilities to generate more funds to support increasing staff and overhead costs as a result of increasing rates of inflation. The Trustees are continuing to review the activities of Kings Church Centre Facilities Norwich Limited and are looking to modify activities where necessary to meet the change in market conditions. 

Despite continual maintenance, having occuied the King's Centre for 25 years, there are major cyclical maintenace projects the trustees desire to undertake over the next 2 to 3 years in order to ensure the Charity and it's beneficiaries can continue to enjoy the be benefits of this wonderful facility. 

## **Trustees Responsibilities** 

The Trustees (who are also directors of Kings Church Centre Norwich for the purposes of company law) are responsible for preparing the Trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). 

The Charities Act 2011 requires the Trustees to prepare an annual report and financial statements for each financial year which give a true and fair view of the Charity's financial activities during the year and of its financial position at the end of the year. In preparing the financial statements, the Trustees should follow best practice and :- 

- select suitable accounting policies and then apply them consistently; 

- make judgements and estimates that are reasonable and prudent; 

- ●follow applicable accounting standards and the Charities SORP, disclosing and explaining any material departures in the financial statements; and 

- ●prepare the financial statements on the going concern basis unless it is inappropriate to assume that the Charity will continue in operation. 

The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy the financial position of the Charity at any time, and to enable them to ensure that the financial statements comply with charity law and Companies Act 2006 and this report is prepared in accordance with the small company exemptions provided by section 415A of the Companies Act 2006. The Trustees are also responsible for safeguarding the Charity's assets, and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. 

**10** 



KINGS CHURCH CENTRE NORWIC
FOR THE YEAR ENDED 31 OCTOBER 2022
REPORT OF THE TRUSTEES
continued
Auditors
Partners Audrt LLP has indicated ils willingness to contsnue in office as auditors.
Statement of di$closurn to auditors
We, the Trustees of the Charity who held office al the date of approva of these Financial Stalemenls,
confirm Ihal as far as we are aware al the date of approving this report, there is no relevant infomiation.
being information needed by the auditor in connection wf(h preparing their report, of which the group's
auditor is unaware. and the Trustees, having made enquiries of lellow Trustees and the group's audrtor that
they ought lo have individually taken, have each taken all steps that they are obliged lo lake as a Trustee in
order to make themselves aware of any relevant audit information and to establish that the auditor is aware
of that infomialion.
Com
an
Exèm
tlo
This Report is prepared in accordance wlh the small company exemptions provided by seclion 415A of the
Compani8s Act 2006 and in accordance wilh A¢Gounling Reporting by Charrties.. Slalement of
Recommended Prath"¢e applicable to charities preparing their financial slalemenls in accordance with the
Financial Reporting Standard applicable lo the UK and Republic of Ireland IFRS1021 (effective 1 January
20151.
Approved by the Board of Trustees on 26 April 2023 and signed on its behaw by.
T Foster- Trustee
26 April 2023
11

**KINGS CHURCH CENTRE NORWICH** 

## **INDEPENDENT AUDITORS’ REPORT** 

## **TO THE MEMBERS OF KINGS CHURCH CENTRE NORWICH** 

## **Opinion** 

We have audited the financial statements of Kings Church Centre Norwich (“the charitable company”) and its subsidiary (“the group”) for the year ended 31 October 2022 which comprise the Consolidated Statement of Financial Activities, the Consolidated and Charity Statement of Financial Position, the Consolidated Statement of Cash Flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 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 group’s and the charitable company's affairs as at 31 October 2022 and of the group’s income and expenditure for the year then ended; 

- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and 

- have been prepared in accordance with the requirements of the Companies Act 2006. 

## **Basis 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 Auditors' 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 United Kingdom, including the Financial Reporting Council'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 going concern** 

In auditing the financial statements, we have concluded that the Trustees’ use of the going concern basis of accounting 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 the charitable company's or the group’s ability to continue as a going concern for a period of at 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. 

## **Other information** 

The Trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Auditors' Report thereon. 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 audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. 

We have nothing to report in this regard. 

## **Opinion 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' Report for the financial year for which the financial statements are prepared is consistent with the financial statements. 

- the Trustees' Report has been prepared in accordance with applicable legal requirements. 

## **Matters on which we are required to report by exception** 

In the light of our knowledge and understanding of the group and the charitable company and their environment obtained in the course of the audit, we have not identified material misstatements in the Trustees' Report. 

We have nothing to report in respect of the following matters in relation to which 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 Trustees 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' Report and from the requirement to prepare a Group Strategic Report. 

12 



**KINGS CHURCH CENTRE NORWICH** 

## **INDEPENDENT AUDITORS’ REPORT** 

## **TO THE MEMBERS OF KINGS CHURCH CENTRE NORWICH (Continued)** 

## **Responsibilities of Trustees** 

As explained more fully in the Trustees' Responsibilities Statement, 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 statements that are free from material misstatement, whether due to fraud or error. 

In preparing the financial statements, the Trustees are responsible for assessing the charitable company'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. 

## **Auditors’ 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 Auditors' 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, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below. 

## **Extent to which the audit was considered capable of detecting irregularities including fraud** 

The objectives of our audit in respect of fraud, are; to identify and assess the risks of material misstatement of the financial statements due to fraud; to obtain sufficient appropriate audit evidence regarding the assessed risks of material misstatement due to fraud, through designing and implementing appropriate responses to those assessed risks; and to respond appropriately to instances of fraud or suspected fraud identified during the audit. However, the primary responsibility for the prevention and detection of fraud rests with both management and those charged with governance of the charitable company. 

Our approach was as follows: 

- We obtained an understanding of the legal and regulatory requirements applicable to the charitable company and group and considered that the most significant are the Companies Act 2006, the Charities Act 2011, the Charities SORP (FRS 102), General Data Protection Regulation (GDPR) and UK taxation and employment legislation. 

- We obtained an understanding of how the charitable company and group comply with these requirements by discussions with management and those charged with governance. 

- We assessed the risk of material misstatement of the financial statements, including the risk of material misstatement due to fraud and how it might occur, by holding discussions with management and those charged with governance. 

- We inquired of management and those charged with governance as to any known instances of non-compliance or suspected non-compliance with laws and regulations. 

- Based on this understanding, we designed specific appropriate audit procedures to identify instances of non-compliance with laws and regulations. This included making enquiries of management and those charged with governance and obtaining additional corroborative evidence as required. 

Because of the inherent limitations of an audit, there is a risk 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 for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' 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 Auditors' 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 its members, as a body, for our audit work, for this report, or for the opinions we have formed. 


## **Frank Shippam BSc FCA DChA (Senior Statutory Auditor)** 

for and on behalf of **MA Partners Audit LLP** 

Chartered Accountants & Statutory Auditors 7 The Close, Norwich, Norfolk, NR1 4DJ 

Date:  30 May 2023 

13 



## **KINGS CHURCH CENTRE NORWICH** 

## **CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES (including summary income and** 

## **expenditure account)** 

## **FOR THE YEAR ENDED 31 OCTOBER 2022** 

|**INCOME**<br>**Donations and Gifts**<br>**Income from Charitable Acivities**<br>**Investment Income**<br>**Other Income**<br>**Total Income**<br>**EXPENDITURE**<br>**Cost of Raising Funds**<br>Fundraising trading: costs of goods<br>sold and other costs<br>**Expenditure on Charitable Activities**<br>Costs<br>Grants and Donations<br>**Total Expenditure**<br>**NET INCOME**<br>Transfers between funds<br>**NET MOVEMENTS IN FUNDS**<br>**RECONCILIATION OF FUNDS**<br>**Total Funds at 01 November 2021**<br>**Total Funds at 31 October 2022**|**Notes**<br>3.1<br>3.2<br>3.3<br>3.4<br>4.1<br>4.2<br>4.3|**Notes**<br>3.1<br>3.2<br>3.3<br>3.4<br>4.1<br>4.2<br>4.3|**Unrestricted**<br>**Funds**<br>**2022**<br>**£**<br>513,181<br>286,973<br>17,672<br>9,121|**Unrestricted**<br>**Funds**<br>**2022**<br>**£**<br>513,181<br>286,973<br>17,672<br>9,121|**Unrestricted**<br>**Funds**<br>**2022**<br>**£**<br>513,181<br>286,973<br>17,672<br>9,121|**Restricted**<br>**Funds**<br><br>**2022**<br>**£**<br>224,163<br>-<br>-<br>-|**Restricted**<br>**Funds**<br><br>**2022**<br>**£**<br>224,163<br>-<br>-<br>-|**Restricted**<br>**Funds**<br><br>**2022**<br>**£**<br>224,163<br>-<br>-<br>-|**Total**<br>**Funds**<br>**2022**<br>**£**<br>737,344<br>286,973<br>17,672<br>9,121<br>1,051,110<br>59,193<br>712,728<br>187,534<br>959,455<br>91,655<br>-<br>91,655<br>1,432,800<br>1,524,455||**Total**<br>**Funds**<br>**2021**<br>**£**<br>644,471<br>118,429<br>20,726<br>12,415|
|---|---|---|---|---|---|---|---|---|---|---|---|
||3.1<br>3.2<br>3.3<br>3.4<br>4.1<br>4.2<br>4.3|||||||||||
|||||||||||||
||||||826,947|||224,163<br>|||796,041|
||||||59,193<br>664,302<br>18,097|||-<br>48,426<br>169,437|||24,674<br>614,859<br>91,406|
||||||741,592|||217,863|||730,939|
||||||85,355<br>(18,872)|||6,300<br>18,872|||65,102<br>-|
|||||66,483<br>1,094,593||||25,172<br>338,207<br>|||65,102<br>1,367,698|
|||||1,161,076||||363,379<br>|||1,432,800|



All of the above results are derived from continuing activities. All gains and losses recognised in the year are included above. 

The notes on pages 17 to 31 form part of these Financial Statements. 

**14** 



KINGS CHURCH CENTRE NORWICH
Registered Company No'.3986517
CONSOLIDATED & CHARITY STATEMENT OF FINANCIAL POSITION
AS AT 31 OCTOBER 2022
Gro
2022
Grou
2021
Chari
2022
Cha
2021
Note
FIXED ASSETS
Tangible assets
Investments
1,016,355 1,041.694
1,016,355 1.041,694
1,016,355 1,041.694
1,016.356 1,041,695
URRENT ASSETS
Sl(Kks
Oeblors due within one year
Cash al Bank and in Hand
6,100
6.100
99,766 115.879
523,903 387,905
4,700
388.592
226.019
4,700
322,188
174.178
10
629,769 509.884
619,311
501,066
EDITO
Amounts falling due within onè year
11
187.458) {66.9041
{77,0011 158.0871
URRENT ASSETS
542,311 442,980
542.310
442,979
Total ass8ts l•$$ Current liabilities
1,558,666 1,484,674
1.558,866 1,484,674
CREDITORS
Amounts falling due after more
than one year
12
134,211) 151,8741
134,2111 151,874}
NET ASSETS
1,524,455 1.432,800
1,524,455 1,432.80
Represont•d by
FUN
Unrestrlcted funds
General
Designated
Restrlcted funds
13&14
967,011 1,004,848
13&14
194,065
89,745
13 & 14 363,379 338,207
1.524,455 1,432,800
967,011 1,004,848
194,065
89.745
363.379
338,207
1.524,455 1,432,80C)
The Trustees have prepared group Financial Slalemenls in aceoTdance wf(h section 398 of the Companies
Act 2006 and section 138 of Ihe Chariknes Act 2011. These Financial Statements are prepared in
accordance w(th the special provisions of Part 1 S of the Companies Act relating lo small companies and
conslrf(ute the annual Financial Slalernenls réquired by the Companies Act 2006 and are for ¢I￿UlatIon to
members ofthe Company.
The notes on pages 17 to 31 form part of these Financial Slatemenls.
The Financial Slalements on pages 14 10 31 were approved by the Trusloe$ on 26 April 2023 and signed on
their behaw by".
so
ruslee
2023
15

## **KINGS CHURCH CENTRE NORWICH** 

## **CONSOLIDATED STATEMENT OF CASH FLOWS** 

## **FOR THE YEAR ENDED 31 OCTOBER 2022** 

|**Notes**<br>**Total**<br>**below**<br>**Funds**<br><br>**2022**<br>**£**<br>**Cash flows from operating activities:**<br>**Net cash provided by/ (used in) operating activities**<br>a)<br>146,408<br>**Cash flows from investing activities:**<br>Interest received<br>2,672<br>Rents received<br>15,000<br>Purchase of fixed assets<br>(10,364)<br>**Net cash provided by/ (used in) investing activities**<br>7,308<br>**Cash flows from financing activities:**<br>Repayments of borrowing<br>(17,718)<br>**Net cash provided by/ (used in) financing activities**<br>(17,718)<br>**Change in cash and cash equivalents in the year**<br>**135,998**<br>**Cash and cash equivalents at the start of the year**<br>b)<br>387,905<br>**Cash and cash equivalents at the end of the year**<br>b)<br>**523,903**<br>**a) Reconcilation of net income/(expenditure) to net cash provided by/ (used in) operating**<br>**activities**<br>**Net income/(expenditure) for the year**<br>(as per the statement of financial activities on page 14)<br>91,655<br>**Adjustments for:**<br>Depreciation charges<br>35,703<br>Interest received<br>(2,672)<br>Rents received<br>(15,000)<br>(Increase)/decrease in debtors<br>16,113<br>Increase/(decrease) in creditors<br>20,609<br>**Net cash provided by/ (used in) operating activities**<br>**146,408**<br>**b) Analysis of cash and cash equivalents**<br>Cash in hand<br>1,410<br>Notice deposits (less than 3 months)<br>522,493<br>**Total cash and cash equivalents**<br>**523,903**|**Notes**<br>**Total**<br>**below**<br>**Funds**<br><br>**2022**<br>**£**<br>**Cash flows from operating activities:**<br>**Net cash provided by/ (used in) operating activities**<br>a)<br>146,408<br>**Cash flows from investing activities:**<br>Interest received<br>2,672<br>Rents received<br>15,000<br>Purchase of fixed assets<br>(10,364)<br>**Net cash provided by/ (used in) investing activities**<br>7,308<br>**Cash flows from financing activities:**<br>Repayments of borrowing<br>(17,718)<br>**Net cash provided by/ (used in) financing activities**<br>(17,718)<br>**Change in cash and cash equivalents in the year**<br>**135,998**<br>**Cash and cash equivalents at the start of the year**<br>b)<br>387,905<br>**Cash and cash equivalents at the end of the year**<br>b)<br>**523,903**<br>**a) Reconcilation of net income/(expenditure) to net cash provided by/ (used in) operating**<br>**activities**<br>**Net income/(expenditure) for the year**<br>(as per the statement of financial activities on page 14)<br>91,655<br>**Adjustments for:**<br>Depreciation charges<br>35,703<br>Interest received<br>(2,672)<br>Rents received<br>(15,000)<br>(Increase)/decrease in debtors<br>16,113<br>Increase/(decrease) in creditors<br>20,609<br>**Net cash provided by/ (used in) operating activities**<br>**146,408**<br>**b) Analysis of cash and cash equivalents**<br>Cash in hand<br>1,410<br>Notice deposits (less than 3 months)<br>522,493<br>**Total cash and cash equivalents**<br>**523,903**||**Total**<br>**Funds**<br>**2021**<br>**£**<br>42,159|
|---|---|---|---|
||||926<br>19,800<br>(10,531)|
||||10,195|
||||(8,902)|
||||(8,902)|
||||**43,452**<br>344,453|
||||**387,905**|
||||65,102<br>33,804<br>(926)<br>(19,800)<br>(38,191)<br>2,169|
|<br>**activities**<br>**Net income/(expenditure) for the year**<br>(as per the statement of financial activities on page 14)<br>**Adjustments for:**<br>Depreciation charges<br>Interest received<br>Rents received<br>(Increase)/decrease in debtors<br>Increase/(decrease) in creditors<br>**Net cash provided by/ (used in) operating activities**<br>**b) Analysis of cash and cash equivalents**<br>Cash in hand<br>Notice deposits (less than 3 months)<br>**Total cash and cash equivalents**|<br>91,655<br>35,703<br>(2,672)<br>(15,000)<br>16,113<br>20,609<br>**146,408**<br>1,410<br>522,493<br>**523,903**|||
||||**42,158**|
||||1,209<br>386,697|
||||**387,905**|



The notes on pages 17 to 31 form part of these Financial Statements. 

**16** 



**KINGS CHURCH CENTRE NORWICH** 

## **NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS** 

## **FOR THE YEAR ENDED 31 OCTOBER 2022** 

## **1 Accounting Policies** 

The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the Financial Statements are as follows: 

## **1.01 Basis of Accounting** 

The Consolidated Financial Statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their Financial Statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. 

Kings Church Centre Norwich ("the Charity") meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy. The financial statements are presented in Sterling (£). 

## **1.02 Company Status** 

The Charity is a company limited by guarantee. In the event of the Charity being wound up, the liability in respect of the guarantee is limited to £10 per member of the Charity, there are 7 members. 

## **1.03 Group Financial Statements** 

The Financial Statements consolidate the results of the Charity and its wholly owned subsidiary, Kings Church Centre Facilities Norwich Ltd, on a line by line basis. A separate Statement of Financial Activities for the Charity itself is not presented because the Charity has taken advantage of the exemptions afforded by section 408 of the Companies Act 2006 and paragraph 397 of the SORP. 

## **1.04 Going Concern** 

The Trustees are confident that the Charity and its subsidiary will continue in operation for the foreseeable future, being a period of at least 12 months from the date of signing of these financial statements. The financial statements have been prepared on a going concern basis. 

**17** 



**KINGS CHURCH CENTRE NORWICH** 

## **NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS** 

## **FOR THE YEAR ENDED 31 OCTOBER 2022** 

## **Accounting Policies (continued…)** 

## **1.05 Income Recognition** 

All income is shown within the Consolidated Statement of Financial Activities as gross except where the trading income is liable to output VAT where it is shown net. Voluntary income and donations are included upon receipt. With the exception of grants (see below) all other income, including operating lease income, is recognised in the period in which it is due. Donated goods and services are included where the benefit to the Charity can be reasonably quantified. They are valued by the Trustees at the market value they would have been willing to pay for the goods or services. 

## **1.06 Grants** 

Both revenue and capital grants are credited to the appropriate fund upon receipt or earlier if any performance conditions attached to the grant have been met or are fully within the control of the Charity or its subsidiary and there is sufficient certainty that receipt of the income is considered probable. 

## **1.07 Donated Goods** 

Donated goods are measured at fair value (the amount for which the asset could be exchanged) unless impractical to do so. 

## **1.08 Legacies** 

Legacies are credited to the appropriate fund at the earlier of: 

- the date on which the Charity is aware that probate as been granted; 

●the estate has been finalised and notification has been made by the executor(s) to the Charity that a distribution will be made; or 

- when a distribution is received from the estate. 

## **1.09 Expenditure** 

Expenditure is recognised in the period in which it is incurred and allocated to the particular cost centre to which it relates. The Charity and its subsidiary are group registered for Value Added Tax and accordingly expenditure is shown net of VAT. Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred. 

## **1.10 Fixed Assets and Depreciation** 

All individual or group of similar fixed assets costing more than £500 are capitalised at cost and depreciated on a straight line basis over their estimated useful working lives. 

## _**Freehold Property, The King's Centre, King Street, Norwich**_ 

This is stated at cost together with refurbishment and development costs to date. Depreciation is charged on buildings at 2% p.a. and land is not depreciated as it is not expected to deteriorate. 

## _**Other fixed assets**_ 

Depreciation is provided at the following rates on a straight line basis:- 

|**_Other fixed assets_**<br>Depreciation is provided at the following rates on a|straight line basis:-|
|---|---|
|Furniture, furnishings and fittings|20%|
|Computer equipment|20%|
|Hired out equipment|20%|



## **1.11 Investment in subsidiary** 

Investment in subsidiary is shown at cost. 

## **1.12 Stock** 

Stocks are valued at the lower of cost and net realisable value. Cost is determined on a first in first out basis. Net realisable value represents estimated selling price less costs to sell. Provision is made for slow-moving, obsolete or damaged stock where net realisable value is less than cost. 

**18** 



**KINGS CHURCH CENTRE NORWICH** 

**NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS** 

## **FOR THE YEAR ENDED 31 OCTOBER 2022** 

## **Accounting Policies (continued…)** 

## **1.13 Debtors** 

Trade and other debtors are recognised at the settlement amount due after any discounts offered. Prepayments are valued at the amount prepaid after taking account of any discounts due. 

## **1.14 Cash at bank and in hand** 

Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. 

## **1.15 Creditors and Provisions** 

Creditors and provisions are recognised where the Charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are recognised at their settlement amount after allowing for any discounts due. 

## **1.16 Financial instruments** 

The Charity only has financial assets and liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at the carrying value plus accrued interest less repayments. The finance charge to expenditure is at a constant rate calculated using the effective interest method. 

## **1.17 Taxation** 

Kings Church Centre Norwich is a registered charity and not subject to Income or Corporation Tax. Irrecoverable input tax is accounted for as incurred. 

## **1.18 Pensions** 

The Charity operates a defined contribution pension scheme under which contributions by employees and by the Charity are held in trust funds separated from the Charity's finances. 

The pension cost charge represents the contributions payable by the Charity under the rules of the scheme. There was an accrued amount at the end of the year of £Nil (2021 - £Nil). 

## **1.19 Leases** 

Rental income from operating leases is recognised on a straight-line basis over the period of the lease. 

## **1.20 Unrestricted funds** 

Unrestricted funds are available to spend on activities that further any of the purposes of the Charity. 

## **1.21 Designated funds** 

Designated funds are unrestricted funds of the Charity which the Trustees have decided at their discretion to set aside to use for a specific purposes. 

## **1.22 Restricted funds** 

Restricted funds are donations which the donor has specified are to be solely used for particular areas of the Charity's work. Expenditure which meets these criteria is charged to the fund together with the appropriate management and support costs. 

## **1.23 Donated Services** 

Members of the Church and others volunteer their time and resources to assist the Charity in achieving it's objectives. Due to the large range and scale of voluntary activity undertaken it is not considered practical or helpful to the users of the accounts to included an estimated value of such voluntary service in these financial statements. 

**19** 



**KINGS CHURCH CENTRE NORWICH** 

## **NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS** 

## **FOR THE YEAR ENDED 31 OCTOBER 2022** 

## **Accounting Policies (continued…)** 

## **2 Funds** 

## **2.01** _**General Fund (unrestricted)**_ 

The Charity maintains a General Fund which constitutes the day-to-day operation of the Charity which is unrestricted. From time to time the Trustees may decide to transfer money from the General Fund to one or more of the Charity's other funds in order to meet expenditure requirements. The other funds of the Charity are:- 

## **2.02** _**King's Centre Fund, (restricted)**_ 

This Fund was established in 1997 to finance the purchase and redevelopment of the "Lads Club" in Norwich, as a multi-purpose Church facility and Community Centre. The redevelopment was completed in 2003. 

## **2.03** _**Specific Gift Fund, (restricted)**_ 

The Specific Gift Fund was set up in year ending 31 October 2005 to control and account for gifts made by members and the church to be used for specific charitable purposes. 

## **2.04** _**Cyclical Maintenance Fund, (designated)**_ 

This Fund was established in 2016 to set aside funds on a regular basis in order to meet the cost of larger property and equipment maintenance which occurs over a 10 year period. When sufficient resources are available, the trustees allocate at least £3,000 per month to the fund and charge costs relating to cyclical maintenace to it as incurred. The trustees intend to build the fund to and maintain it at a level of £148,000. 

## **2.05** _**Giving Gifts Fund, (designated)**_ 

This fund was established in 2016 to set aside 10% of regular giving from church members together with the occassional specific gift with a view to donating the fund to various organisations and individuals external to the Charity, which never-the-less promote the same aims and objectives of the Charity. 

## **2.06** _**Site Specific Fund, (designated)**_ 

This fund was established in 2016 to allocate funds to the control of each site leader for outreach purposes. 

## **2.07** _**Gift Days Fund, (restricted)**_ 

This fund was established in 2016 to ring fence gifts received from church members in response to various areas of need identified by the Elders of the Charity. The funds are used to finance the specific needs for which they are given. 

## **2.08** _**Kings Care Fund, (restricted)**_ 

The Kings Care fund was set up in 2002 to provide a weekly drop in for homeless and vulnerable people in Norwich. 

## **2.09** _**The Venue Fund, including the Big Lottery Fund (restricted)**_ 

The Venue fund was created in 2011 with a view to build relationships and offer support to local residents in the Mile Cross area of Norwich. 

**20** 



**KINGS CHURCH CENTRE NORWICH** 

## **NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS** 

## **FOR THE YEAR ENDED 31 OCTOBER 2022** 

|**3**<br>**3.1 **<br>**3.2 **<br>**3.3 **<br>**3.4 **|**Income**<br> **Donations and Gifts**<br>Regular Offerings<br>Tax Refunds including Interest<br>Special Offerings<br>Special Community project funding<br>Grants<br>Donated Goods<br>Sundry Income<br> **Income from charitable acivities**<br>Hire of premises & Coffee Shop<br>King's Books<br> **Investment Income**<br>Building Lease<br>Interest Received<br> **Other Income**<br>Salary Support Income<br>**Total Income**|**Group**<br>**Unrestricted**<br>**Funds**<br>**2022**<br>**£**<br>412,694<br>81,147<br>1,418<br>-<br>4,164<br>-<br>13,758|**Group**<br>**Unrestricted**<br>**Funds**<br>**2022**<br>**£**<br>412,694<br>81,147<br>1,418<br>-<br>4,164<br>-<br>13,758|**Group**<br>**Unrestricted**<br>**Funds**<br>**2022**<br>**£**<br>412,694<br>81,147<br>1,418<br>-<br>4,164<br>-<br>13,758|**Group**<br>**Restricted**<br>**Funds**<br>**2022**<br>**£**<br>390<br>21,153<br>159,687<br>838<br>42,095<br>-<br>-|**Group**<br>**Restricted**<br>**Funds**<br>**2022**<br>**£**<br>390<br>21,153<br>159,687<br>838<br>42,095<br>-<br>-|**Group**<br>**Restricted**<br>**Funds**<br>**2022**<br>**£**<br>390<br>21,153<br>159,687<br>838<br>42,095<br>-<br>-|
|---|---|---|---|---|---|---|---|
||||**Funds**<br>**2022**<br>**£**<br>412,694<br>81,147<br>1,418<br>-<br>4,164<br>-<br>13,758|||||
|||||||||
|||||513,181|||224,163|
|||||283,399<br>3,574|||-<br>-|
|||||286,973|||-|
|||||15,000<br>2,672|||-<br>-|
|||||17,672|||-|
|||||9,121|||-|
|||||9,121|||-|
|||||**826,947**||||



Of the £796,041 income in 2021, £689,961 related to unrestricted funds and £106,080 restricted funds. 

**21** 



**KINGS CHURCH CENTRE NORWICH** 

## **NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS** 

## **FOR THE YEAR ENDED 31 OCTOBER 2022** 

|**4**<br>**4.1 **<br>**4.2 **<br>**4.3 **|**Expenditure**<br> **Expenditure on Generating Funds**<br>Hire of premises & Coffee Shop costs<br>King's Books<br> **Expenditure on Charitable Activities**<br>Salaries and Ministry<br>Travel, Conferences and Accommodation<br>Books and Tapes<br>Refreshment Bar<br>Subscriptions<br>Hospitality<br>Sundries<br>Printing, Postage and Stationery<br>Electronic Communications<br>IT<br>Equipment Hire<br>Telephone<br>Building Running Costs and Utilities<br>Insurance<br>Rent<br>Depreciation<br>Mortgage & Loan Interest<br>Bank Charges<br>Non-refundable VAT<br>Repairs and Maintenance<br>Governance Costs (see note 6)<br> **Grants and Donations Given**<br>Gifts and Donations<br>Special Community Projects<br>**Total Expenditure**||**Group**<br>**Unrestricted**<br>**Funds**<br>**2022**<br>**£**<br>56,689<br>2,504|**Group**<br>**Unrestricted**<br>**Funds**<br>**2022**<br>**£**<br>56,689<br>2,504|**Group**<br>**Unrestricted**<br>**Funds**<br>**2022**<br>**£**<br>56,689<br>2,504|**Group**<br>**Restricted**<br>**Funds**<br>**2022**<br>**£**<br>-<br>-|**Group**<br>**Restricted**<br>**Funds**<br>**2022**<br>**£**<br>-<br>-|**Group**<br>**Restricted**<br>**Funds**<br>**2022**<br>**£**<br>-<br>-|**Group**<br>**Total**<br>**Funds**<br>**2022**<br>**£**<br>56,689<br>2,504<br>59,193<br>468,891<br>18,719<br>2,132<br>4,347<br>6,463<br>206<br>6,159<br>3,212<br>161<br>9,674<br>6,492<br>5,078<br>59,618<br>6,146<br>10,998<br>35,703<br>1,404<br>2,450<br>8,974<br>35,205<br>20,696<br>712,728<br>158,013<br>29,521<br>187,534<br>**959,455**||**Group**<br>**Total**<br>**Funds**<br>**2021**<br>**£**<br>23,970<br>704|
|---|---|---|---|---|---|---|---|---|---|---|---|
|||||||||||||
|||||||||||||
||||||59,193|||-|||24,674|
||||||443,513<br>18,719<br>2,132<br>4,347<br>6,463<br>206<br>6,159<br>3,212<br>161<br>9,674<br>6,492<br>5,078<br>59,618<br>6,146<br>10,998<br>12,655<br>1,404<br>2,450<br>8,974<br>35,205<br>20,696|||25,378<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>23,048<br>-<br>-<br>-<br>-<br>-|||443,972<br>8,992<br>1,038<br>1,263<br>3,481<br>169<br>4,189<br>2,889<br>85<br>11,198<br>3,154<br>4,880<br>32,964<br>5,709<br>(1,901)<br>33,804<br>893<br>1,833<br>-<br>49,610<br>6,637|
||||||664,302|||48,426|||614,859|
||||||18,097<br>-|||139,916<br>29,521|||61,751<br>29,655|
||||||18,097|||169,437|||91,406|
||||||**741,592**|||**217,863**|||**730,939**|



Of the £730,939 expenditure in 2021, £621,775 related to unrestricted funds and £109,164 restricted funds. 

**22** 



**KINGS CHURCH CENTRE NORWICH** 

## **NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS** 

## **FOR THE YEAR ENDED 31 OCTOBER 2022** 

## **5 Gifts and Donations made - Group & Charity** 

Gifts and donations are made to support and bless individuals and organisations that undertake work that is in line with the main objects of the Charity. An analysis is shown below. 

|Care for the homeless of Norwich<br>Local church planting and support<br>International church planting & support<br>Christian youth support projects<br>Regional New Frontiers projects<br>Missionary work abroad<br>Famine/Disaster relief<br>International Christian projects<br>Christian literature & evangelism<br>**Total Donations in year**|**Organisations**<br>**Individuals**<br>**£**<br>**£**<br>12,017<br>-<br>369<br>-<br>31,420<br>-<br>476<br>-<br>12,097<br>-<br>-<br>2,340<br>67,222<br>-<br>27,000<br>-<br>848<br>4,224<br>151,449<br>6,564<br>158,013<br>**2022**<br>**Gifts and Donations to :**|**Organisations Individuals**<br>**£**<br>**£**<br>8,532<br>-<br>6,237<br>-<br>10,581<br>-<br>-<br>-<br>15,800<br>-<br>-<br>2,400<br>3,131<br>-<br>-<br>-<br>894<br>14,176<br>**2021**<br>**Gifts and Donations to :**|**Organisations Individuals**<br>**£**<br>**£**<br>8,532<br>-<br>6,237<br>-<br>10,581<br>-<br>-<br>-<br>15,800<br>-<br>-<br>2,400<br>3,131<br>-<br>-<br>-<br>894<br>14,176<br>**2021**<br>**Gifts and Donations to :**|
|---|---|---|---|
|||45,175<br>16,576||
||||61,751|



The total donations made to charities in the year was £137,739 and £39,912 in the previous year. 

|**6**|**Governance Costs**<br>Audit Fees<br>Professional Fees|**Group**<br>**Group**<br>**Unrestricted**<br>**Restricted**<br>**General**<br>**Funds**<br>**Fund**<br>**£**<br>**£**<br>5,745<br>-<br>14,951<br>-<br>20,696<br>-|**Group**<br>**Group**<br>**Total**<br>**Total**<br>**2022**<br>**2021**<br>**£**<br>**£**<br>5,745<br>5,825<br>14,951<br>812|
|---|---|---|---|
||||20,696<br>6,637|



The Trustees consider the above to be the only costs identifiable as pure governance costs. All of the governance costs are allocated to the unrestricted general fund. 

**23** 



**KINGS CHURCH CENTRE NORWICH** 

## **NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS** 

## **FOR THE YEAR ENDED 31 OCTOBER 2022** 

## **7 Tangible Fixed Assets - Group & Charity** 

|**COST**<br>At 1 November 2021<br>Additions<br>Disposals<br>At 31 October 2022<br>**DEPRECIATION**<br>At 1 November 2021<br>Charge for Year<br>Eliminated on disposals<br>At 31 October 2022<br>**NET BOOK VALUE**<br>At 31 October 2022<br>At 31 October 2021||**Freehold**<br>**Land &**<br>**Buildings**<br>**£**<br>1,522,393<br>-<br>-|**Fixtures &**<br>**Total**<br>**Equipment**<br>**£**<br>**£**<br>372,114<br>1,894,507<br>10,364<br>10,364<br>(6,940)<br>(6,940)|
|---|---|---|---|
|||1,522,393|375,538<br>1,897,931|
|||506,294<br>23,048<br>-|346,519<br>852,813<br>12,655<br>35,703<br>(6,940)<br>(6,940)|
|||529,342|352,234<br>881,576|
|||993,051|23,304<br>1,016,355|
|||1,016,099|25,595<br>1,041,694|



Included within land and buildings both this and last year is land at a value of £370,000 which is not depreciated. 

## **8 Investments** 

The Charity holds one ordinary share of £1 (2021 £1) in its wholly owned subsidiary company, Kings Church Centre Facilities Norwich Ltd, which is incorporated in the United Kingdom. The activities and results of this company are summarised in note 28. 

|**9**<br>**10**|**Stocks**<br>Raw Materials<br>Finished Goods for resale<br>**Debtors and Prepayments**<br>Trade Debtors<br>Other Debtors<br>Due from Subsidiary<br>Income Tax Recoverable<br>Prepayments||**Group**<br>**2022**<br>**£**<br>1,400<br>4,700|**Group**<br>**2022**<br>**£**<br>1,400<br>4,700|**Group**<br>**2021**<br>**£**<br>1,400<br>4,700|**Group**<br>**2021**<br>**£**<br>1,400<br>4,700|**Charity**<br>**2022**<br>**£**<br>-<br>4,700|**Charity**<br>**2022**<br>**£**<br>-<br>4,700|**Charity**<br>**2021**<br>**£**<br>-<br>4,700|**Charity**<br>**2021**<br>**£**<br>-<br>4,700|
|---|---|---|---|---|---|---|---|---|---|---|
||||||||||||
|||||6,100||6,100||4,700||4,700|
||||**Group**<br>**2022**<br>**£**<br>32,213<br>635<br>-<br>66,918<br>-||**Group**<br>**2021**<br>**£**<br>20,191<br>10,803<br>-<br>82,884<br>2,001||**Charity**<br>**2022**<br>**£**<br>-<br>635<br>321,039<br>66,918<br>-||**Charity**<br>**2021**<br>**£**<br>-<br>10,856<br>226,447<br>82,884<br>2,001||
||||||||||||
|||||99,766||115,879||388,592||322,188|



**24** 



**KINGS CHURCH CENTRE NORWICH** 

## **NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS** 

## **FOR THE YEAR ENDED 31 OCTOBER 2022** 

## **11 Creditors - Amounts falling due within one year** 

|Bank Loan<br>Member's loans<br>Trade Creditors<br>Deferred Income<br>Accruals<br>Taxation and Social Security Costs<br>Other Creditors<br>Deferred income b/f<br>Released in the year<br>Added in the year<br>Deferred income c/f||**Group**<br>**2022**<br>**£**<br>10,000<br>7,381<br>14,988<br>2,500<br>23,645<br>28,791<br>153|**Group**<br>**2022**<br>**£**<br>10,000<br>7,381<br>14,988<br>2,500<br>23,645<br>28,791<br>153|**Group**<br>**2021**<br>**£**<br>10,000<br>7,436<br>15,050<br>4,791<br>21,127<br>8,500<br>-|**Group**<br>**2021**<br>**£**<br>10,000<br>7,436<br>15,050<br>4,791<br>21,127<br>8,500<br>-|**Charity**<br>**2022**<br>**£**<br>10,000<br>7,381<br>6,681<br>2,500<br>21,495<br>28,791<br>153|**Charity**<br>**2022**<br>**£**<br>10,000<br>7,381<br>6,681<br>2,500<br>21,495<br>28,791<br>153|**Charity**<br>**2021**<br>**£**<br>10,000<br>7,436<br>8,633<br>4,791<br>18,727<br>8,500<br>-|**Charity**<br>**2021**<br>**£**<br>10,000<br>7,436<br>8,633<br>4,791<br>18,727<br>8,500<br>-|
|---|---|---|---|---|---|---|---|---|---|
|||||||||||
||||87,458||66,904||77,001||58,087|
||||4,791<br>(4,791)<br>2,500||15,670<br>(15,670)<br>4,791||4,791<br>(4,791)<br>2,500||15,670<br>(15,670)<br>4,791|
||||2,500||4,791||2,500||4,791|



## **12 Creditors - Amounts falling due after more than one year** 

|Bank Loan<br>Members Loans<br>Bank and other loans are repayable as follows:<br>Due within one year<br>Due between two and five years||**Group**<br>**2022**<br>**£**<br>28,333<br>5,878|**Group**<br>**2022**<br>**£**<br>28,333<br>5,878|**Group**<br>**2021**<br>**£**<br>38,333<br>13,541|**Group**<br>**2021**<br>**£**<br>38,333<br>13,541|**Charity**<br>**2022**<br>**£**<br>28,333<br>5,878|**Charity**<br>**2022**<br>**£**<br>28,333<br>5,878|**Charity**<br>**2021**<br>**£**<br>38,333<br>13,541|**Charity**<br>**2021**<br>**£**<br>38,333<br>13,541|
|---|---|---|---|---|---|---|---|---|---|
|||||||||||
||||34,211||51,874||34,211||51,874|
||||17,381<br>34,211||17,436<br>51,874||17,381<br>34,211||17,436<br>51,874|
||||51,592||69,310||51,592||69,310|



**25** 



**KINGS CHURCH CENTRE NORWICH** 

## **NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS** 

## **FOR THE YEAR ENDED 31 OCTOBER 2022** 

## **13 Reconciliation of Movements in Funds - Group 2022** 

|**Undesignated General Fund**<br>**Designated Funds:**<br>Cyclical Maintenance Fund<br>Giving Fund<br>Site Specific Fund<br>**Total Designated Funds**<br>**Restricted Funds:**<br>King's Centre Fund<br>King's Care Fund<br>Gift Days Fund<br>The Venue<br>Specific Gift Fund<br>**Total Restricted Funds**<br>**Total Funds**|**As At**<br>**Income**<br>**Transfers**<br>**As At**<br>**1 Nov 2021**<br>**Expenditure**<br>**To/(From)**<br>**31 Oct 2022**<br>**£**<br>**£**<br>**£**<br>**£**<br>**£**<br>1,004,848<br>826,947<br>(717,034)<br>(147,750)<br>967,011|
|---|---|
||50,855<br>-<br>(6,052)<br>86,000<br>130,803<br>23,735<br>-<br>(17,728)<br>42,878<br>48,885<br>15,155<br>-<br>(778)<br>-<br>14,377|
||89,745<br>-<br>(24,558)<br>128,878<br>194,065|
||246,701<br>-<br>(23,048)<br>-<br>223,653<br>-<br>845<br>(19,595)<br>18,751<br>1<br>78,563<br>103,894<br>(61,877)<br>-<br>120,580<br>3,124<br>42,478<br>(35,148)<br>121<br>10,575<br>9,819<br>76,946<br>(78,195)<br>-<br>8,570|
||338,207<br>224,163<br>(217,863)<br>18,872<br>363,379|
||1,432,800<br>1,051,110<br>(959,455)<br>-<br>1,524,455|



## **14 Reconciliation of Movements in Funds - Charity 2022** 

|**Undesignated General Fund**<br>**Designated Funds:**<br>Cyclical Maintenance Fund<br>Giving Fund<br>Site Specific Fund<br>**Total Designated Funds**<br>**Restricted Funds:**<br>King's Centre Fund<br>King's Care Fund<br>Gift Days Fund<br>The Venue<br>Specific Gift Fund<br>**Total Restricted Funds**<br>**Total Funds**|**As At**<br>**Income**<br>**Transfers**<br>**As At**<br>**1 Nov 2021**<br>**Expenditure**<br>**To/(From)**<br>**31 Oct 2022**<br>**£**<br>**£**<br>**£**<br>**£**<br>**£**<br>1,004,848<br>826,947<br>(717,034)<br>(147,750)<br>967,011|
|---|---|
||50,855<br>-<br>(6,052)<br>86,000<br>130,803<br>23,735<br>-<br>(17,728)<br>42,878<br>48,885<br>15,155<br>-<br>(778)<br>-<br>14,377|
||89,745<br>-<br>(24,558)<br>128,878<br>194,065|
||246,701<br>-<br>(23,048)<br>-<br>223,653<br>-<br>845<br>(19,595)<br>18,751<br>1<br>78,563<br>103,894<br>(61,877)<br>-<br>120,580<br>3,124<br>42,478<br>(35,148)<br>121<br>10,575<br>9,819<br>76,946<br>(78,195)<br>-<br>8,570|
||338,207<br>224,163<br>(217,863)<br>18,872<br>363,379|
||1,432,800<br>1,051,110<br>(959,455)<br>-<br>1,524,455|



**26** 



**KINGS CHURCH CENTRE NORWICH** 

## **NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS** 

## **FOR THE YEAR ENDED 31 OCTOBER 2022** 

## **15 Reconciliation of Movements in Funds - Group 2021** 

|**Undesignated General Fund**<br>**Designated Funds:**<br>Cyclical Maintenance Fund<br>Giving Fund<br>Site Specific Fund<br>**Total Designated Funds**<br>**Restricted Funds:**<br>King's Centre Fund<br>King's Care Fund<br>Gift Days Fund<br>The Venue<br>Specific Gift Fund<br>**Total Restricted Funds**<br>**Total Funds**|**As At**<br>**Income**<br>**Transfers**<br>**As At**<br>**1 Nov 2020**<br>**Expenditure**<br>**To/(From)**<br>**31 Oct 2021**<br>**£**<br>**£**<br>**£**<br>**£**<br>**£**<br>990,933<br>689,961<br>(565,899)<br>(110,147)<br>1,004,848|
|---|---|
||3,693<br>-<br>(28,338)<br>75,500<br>50,855<br>12,093<br>-<br>(27,392)<br>39,034<br>23,735<br>8,301<br>-<br>(146)<br>7,000<br>15,155|
||24,087<br>-<br>(55,876)<br>121,534<br>89,745|
||269,749<br>-<br>(23,048)<br>-<br>246,701<br>-<br>6,479<br>(16,638)<br>10,159<br>-<br>79,603<br>48,082<br>(24,661)<br>(24,461)<br>78,563<br>-<br>35,329<br>(35,120)<br>2,915<br>3,124<br>3,326<br>16,190<br>(9,697)<br>-<br>9,819|
||352,678<br>106,080<br>(109,164)<br>(11,387)<br>338,207|
||1,367,698<br>796,041<br>(730,939)<br>-<br>1,432,800|



## **16 Reconciliation of Movements in Funds - Charity 2021** 

|**Undesignated General Fund**<br>**Designated Funds:**<br>Cyclical Maintenance Fund<br>Giving Fund<br>Site Specific Fund<br>**Total Designated Funds**<br>**Restricted Funds:**<br>King's Centre Fund<br>King's Care Fund<br>Gift Days Fund<br>The Venue<br>Specific Gift Fund<br>**Total Restricted Funds**<br>**Total Funds**|**As At**<br>**Income**<br>**Transfers**<br>**As At**<br>**1 Nov 2020**<br>**Expenditure**<br>**To/(From)**<br>**31 Oct 2021**<br>**£**<br>**£**<br>**£**<br>**£**<br>**£**<br>990,933<br>689,961<br>(565,899)<br>(110,147)<br>1,004,848|
|---|---|
||3,693<br>-<br>(28,338)<br>75,500<br>50,855<br>12,093<br>-<br>(27,392)<br>39,034<br>23,735<br>8,301<br>-<br>(146)<br>7,000<br>15,155|
||24,087<br>-<br>(55,876)<br>121,534<br>89,745|
||269,749<br>-<br>(23,048)<br>-<br>246,701<br>-<br>6,479<br>(16,638)<br>10,159<br>-<br>79,603<br>48,082<br>(24,661)<br>(24,461)<br>78,563<br>-<br>35,329<br>(35,120)<br>2,915<br>3,124<br>3,326<br>16,190<br>(9,697)<br>-<br>9,819|
||352,678<br>106,080<br>(109,164)<br>(11,387)<br>338,207|
||1,367,698<br>796,041<br>(730,939)<br>-<br>1,432,800|



**27** 



**KINGS CHURCH CENTRE NORWICH** 

## **NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS** 

## **FOR THE YEAR ENDED 31 OCTOBER 2022** 

## **17 Analysis of net assets between the Funds - Group 2022** 

|**Undesignated General Fund**<br>**Designated Funds:**<br>Cyclical Maintenance Fund<br>Giving Fund<br>Site Specific Fund<br>**Total Designated Funds**<br>**Restricted funds**<br>King's Centre Fund<br>King's Care Fund<br>Gift Days Fund<br>The Venue<br>Specific Gift Fund<br>**Total Restricted Funds**<br>**Total Funds**|**Tangible**<br>**Net**<br>**Long Term**<br>**Fixed**<br>**Current**<br>**Liabilities**<br>**Total**<br>**Assets**<br>**Assets**<br>**2022**<br>**£**<br>**£**<br>**£**<br>**£**<br>792,702<br>208,520<br>(34,211)<br>967,011|
|---|---|
||-<br>130,803<br>-<br>130,803<br>-<br>48,885<br>-<br>48,885<br>-<br>14,377<br>-<br>14,377|
||-<br>194,065<br>-<br>194,065|
||223,653<br>-<br>-<br>223,653<br>-<br>1<br>-<br>1<br>-<br>120,580<br>-<br>120,580<br>-<br>10,575<br>-<br>10,575<br>-<br>8,570<br>-<br>8,570|
||223,653<br>139,726<br>-<br>363,379|
||1,016,355<br>542,311<br>(34,211)<br>1,524,455|



There are sufficient resources held in an appropriate form to enable the above funds to be applied in accordance with the restrictions applicable to them. 

## **18 Analysis of net assets between the Funds - Charity 2022** 

|**Undesignated General Fund**<br>**Designated Funds:**<br>Cyclical Maintenance Fund<br>Giving Fund<br>Site Specific Fund<br>**Total Designated Funds**<br>**Restricted funds**<br>King's Centre Fund<br>King's Care Fund<br>Gift Days Fund<br>The Venue<br>Specific Gift Fund<br>**Total Restricted Funds**<br>**Total Funds**|**Tangible**<br>**Net**<br>**Long Term**<br>**Fixed**<br>**Current**<br>**Liabilities**<br>**Total**<br>**Assets**<br>**Assets**<br>**2022**<br>**£**<br>**£**<br>**£**<br>**£**<br>792,703<br>208,519<br>(34,211)<br>967,011|
|---|---|
||-<br>130,803<br>-<br>130,803<br>-<br>48,885<br>-<br>48,885<br>-<br>14,377<br>-<br>14,377|
||-<br>194,065<br>-<br>194,065|
||223,653<br>-<br>-<br>223,653<br>-<br>1<br>-<br>1<br>-<br>120,580<br>-<br>120,580<br>-<br>10,575<br>-<br>10,575<br>-<br>8,570<br>-<br>8,570|
||223,653<br>139,726<br>-<br>363,379|
||1,016,356<br>542,310<br>(34,211)<br>1,524,455|



**28** 



**KINGS CHURCH CENTRE NORWICH** 

## **NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS** 

## **FOR THE YEAR ENDED 31 OCTOBER 2022** 

## **19 Analysis of net assets between the Funds - Group 2021** 

|**Undesignated General Fund**<br>**Designated Funds:**<br>Cyclical Maintenance Fund<br>Giving Fund<br>Site Specific Fund<br>**Total Designated Funds**<br>**Restricted funds**<br>King's Centre Fund<br>Gift Days Fund<br>The Venue<br>Specific Gift Fund<br>**Total Restricted Funds**<br>**Total Funds**|**Tangible**<br>**Net**<br>**Long Term**<br>**Fixed**<br>**Current**<br>**Liabilities**<br>**Total**<br>**Assets**<br>**Assets**<br>**2021**<br>**£**<br>**£**<br>**£**<br>**£**<br>794,993<br>261,729<br>(51,874)<br>1,004,848|
|---|---|
||-<br>50,855<br>-<br>50,855<br>-<br>23,735<br>-<br>23,735<br>-<br>15,155<br>-<br>15,155|
||-<br>89,745<br>-<br>89,745|
||246,701<br>-<br>-<br>246,701<br>-<br>78,563<br>-<br>78,563<br>-<br>3,124<br>-<br>3,124<br>-<br>9,819<br>-<br>9,819|
||246,701<br>91,506<br>-<br>338,207|
||1,041,694<br>442,980<br>(51,874)<br>1,432,800|



There are sufficient resources held in an appropriate form to enable the above funds to be applied in accordance with the restrictions applicable to them. 

## **20 Analysis of net assets between the Funds - Charity 2021** 

|**Undesignated General Fund**<br>**Designated Funds:**<br>Cyclical Maintenance Fund<br>Giving Fund<br>Site Specific Fund<br>**Total Designated Funds**<br>**Restricted funds**<br>King's Centre Fund<br>Gift Days Fund<br>The Venue<br>Specific Gift Fund<br>**Total Restricted Funds**<br>**Total Funds**|**Tangible**<br>**Net**<br>**Long Term**<br>**Fixed**<br>**Current**<br>**Liabilities**<br>**Total**<br>**Assets**<br>**Assets**<br>**2021**<br>**£**<br>**£**<br>**£**<br>**£**<br>794,994<br>261,728<br>(51,874)<br>1,004,848|
|---|---|
||-<br>50,855<br>-<br>50,855<br>-<br>23,735<br>-<br>23,735<br>-<br>15,155<br>-<br>15,155|
||-<br>89,745<br>-<br>89,745|
||246,701<br>-<br>-<br>246,701<br>-<br>78,563<br>-<br>78,563<br>-<br>3,124<br>-<br>3,124<br>-<br>9,819<br>-<br>9,819|
||246,701<br>91,506<br>-<br>338,207|
||1,041,695<br>442,979<br>(51,874)<br>1,432,800|



**29** 



**KINGS CHURCH CENTRE NORWICH** 

## **NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS** 

## **FOR THE YEAR ENDED 31 OCTOBER 2022** 

## **21 Staff Costs - Group** 

These relate to the costs of the Church Elders together with full and part-time staff involved in conferencing, coffee shop and day to day Church activities. 

|Wages and Salaries<br>Social Security Costs<br>Pension Contributions<br>Average weekly number of employees||**Group**<br>**2022**<br>**£**<br>419,594<br>29,289<br>20,008|**Group**<br>**2022**<br>**£**<br>419,594<br>29,289<br>20,008|**Group**<br>**2021**<br>**£**<br>395,909<br>26,725<br>21,338|**Group**<br>**2021**<br>**£**<br>395,909<br>26,725<br>21,338|**Charity**<br>**2022**<br>**£**<br>267,660<br>29,289<br>20,008|**Charity**<br>**2022**<br>**£**<br>267,660<br>29,289<br>20,008|**Charity**<br>**2021**<br>**£**<br>277,579<br>26,725<br>21,338|**Charity**<br>**2021**<br>**£**<br>277,579<br>26,725<br>21,338|
|---|---|---|---|---|---|---|---|---|---|
|||||||||||
||||468,891||443,972||316,957||325,642|
|||**Group**<br>**2022**<br>**No.**<br>14||**Group**<br>**2021**<br>**No.**<br>15||**Charity**<br>**2022**<br>**No.**<br>8||**Charity**<br>**2021**<br>**No.**<br>9||
|||||||||||



No employee earned more than £60,000 pa. Remuneration & expenses were not paid to or waived by the Trustees during this or the preceding year in their capacity as Trustee. The total remuneration, including pension and employers national insurance, paid in respect of key management was £175,493 (2021: £174,767). 

## **22 Capital Commitments - Group & Charity** 

|Capital expenditure that has been contracted for but has<br>not been provided for in the financial statements<br>Capital expenditure that has been authorised but not<br>contracted for or provided for in the financial statements|**2022**<br>**£**<br>-<br>-||**2021**<br>**£**<br>2,070|
|---|---|---|---|
||||-|



## **23 Post Balance Sheet Event - Group & Charity** 

The Trustees are continuing to review the activities of its subsidiary and are looking to the Directors to modify activities where necessary to meet the change in market conditions. 

A review of the cash reserves and future cashflow of the Charity indicate the Charity will continue successful operation for the forseable future. 

**30** 



**KINGS CHURCH CENTRE NORWICH** 

## **NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS** 

## **FOR THE YEAR ENDED 31 OCTOBER 2022** 

## **24 Related Party Transactions - Group & Charity** 

The Charity owns 100% of the share capital of its subsidiary undertaking, Kings Church Centre Facilities Ltd and has taken advantage of the exemption available under Section 33 of FRS 102 not to disclose the transactions between wholly owned members of a group. 

During the year, Ailsa Magee, the wife of a Trustee, was employed by the charity and received remuneration of £14,529 (2021: £18,869). 

Donations made to the Charity by Trustees, Elders and their close family members in the year totalled £136,170 (2021: £100,391). 

## **25 Contingent Liabilities - Group & Charity** 

There were no contingient liabilities as at 31 October 2022 other than the remote possibility of repaying grants if the terms are not complied with. 

## **26 Control - Charity** 

No one member has control of the Charity. 

## **27 Pension** 

The Charity operates a defined contribution pension scheme under which contributions by employees and by the Charity are held in trust funds separated from the Charity's finances. The pension cost charge of £20,008 (2021: £21,338) represents the contributions payable by the Charity under the rules of the scheme. There was an accrued amount at the end of the year of £153 (2021: £Nil). 

## **28 Subsidiary Company** 

The Charity owns 100% of the share capital of its subsidiary undertaking, Kings Church Centre Facilities Norwich Ltd ("KCCFN") the result of which are detailed below. 

|Turnover<br>Cost of Sales<br>Gross Profit<br>Other Income<br>Administrative expenses<br>Net Profit<br>Gift Aid to Kings Church Centre Norwich<br>Retained profit / (loss)<br>The aggregate of the assets, liabilities and funds was:<br>Assets<br>Liabilities||**KCCFN**<br>**2022**<br>**£**<br>284,005<br>(222,182)<br>61,823<br>986<br>(62,260)<br>549<br>(549)<br>-<br>331,497<br>(331,496)<br>1||**KCCFN**<br>**2021**<br>**£**<br>125,519<br>(126,817)|
|---|---|---|---|---|
|||||(1,298)<br>19,628<br>(17,716)|
|||||614<br>(614)|
|||||-|
|||||235,318<br>(235,317)|
|||||1|



## **29 Charity's Net Income/(Expenditure)** 

The Charity had net income for the year of £91,105 (2021: net income for the year of £64,488). 

**31**