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2023-10-31-accounts

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 2023

KINGS CHURCH CENTRE NORWICH

FOR THE YEAR ENDED 31 OCTOBER 2023

CONTENTS
Page
Charity Information 1
Report of the Trustees 2 to 12
Report of the Auditors 13 to 14
Consolidated Statement of Financial Activities 15
Consolidated & Charity Statement of Financial Position 16
Consolidated Statement of Cashflow 17
Notes to the Consolidated Financial Statements 18 to 32

KINGS CHURCH CENTRE NORWICH

FOR THE YEAR ENDED 31 OCTOBER 2023

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 Vinson Mr S Jones Mr T Foster Mrs H Sasraku-Neequaye

SECRETARY

Mr K Vinson

OTHER KEY MANAGEMENT AND PERSONNEL:

LEADERSHIP OF CHURCH & COMPANY MEMBERS

Mr T Skipper - Elder 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 2023

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 2023. 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 2019).

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 (2022: 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. The conferencing activity was transferred to the Charity as of 1 November 2023.

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 2023

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 ran every Sunday afternoon until April 2023. It is part of a Norwich wide service – called Nourish. Nourish aims to provide 7 days a week all yearround 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.

Winter night shelter washing sleeping bags

Over the winter of 2022/23 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 past year and we now have over 30 families on each register, which generally means up to 60 children attending over both days in the week. We have had new team members join this year and a new leader for Wednesdays.

Children come in at all different stages of development from newborns 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.

We have many families from different cultural backgrounds. From Eastern Europe, Africa, Asia and the Middle East. 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.

3

KINGS CHURCH CENTRE NORWICH

FOR THE YEAR ENDED 31 OCTOBER 2023

REPORT OF THE TRUSTEES (CONTINUED)

Many families are struggling financially and we have introduced some changes to help. We have changed to a donation system rather than a fee, we provide a small hygiene bank with free toiletries, we have set up a coat swap rack where families can bring in coats which children have grown out of and swap for a bigger one.

Community Group

In January 2023 we started some warm spaces, which we are now calling community spaces, so the name works for all year.

On Mondays there is a warm space for the over 55s which includes an optional lunch. This ran from January until June and then restarted again in September. Generally about 10-15 guests regularly attend and enjoy chatting and eating together.

On a Wednesday we ran an afterschool club warm space for local families, linking to the local school, Charles Darwin. We had lots of families attend enjoying free refreshments, craft, board games and toys. This ran from January until July, but has not been able to restart due to lack of available volunteers.

The third community space has been for a couple of hours on a Thursday afternoon, with free refreshments, board games, newspapers etc in the King’s coffee shop after it closes at 2pm. This ran from January until Easter and has restarted at the beginning of October 23 with the introduction of a family zone with games and craft. The numbers attending vary from week to week between about 10-20 people over the 2 hour period.

English Language group

English Conversation classes at the King's Centre are a relaxed, informal space where learners of any level of English can come and practice their language skills, make friends and find community. Meeting weekly during term-time on Tuesdays, from 6.45-8.30pm, a typical session consists of socialising over tea, coffee or snacks, a group game, and a lesson plan on a topic relevant to daily life (family, work and job interviews, shopping, travel, festivals, etc) using a mix of discussion-based learning and written resources. Group size tends to be between 10 and 25 people, with 5 current volunteers on team.

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.

4

KINGS CHURCH CENTRE NORWICH

FOR THE YEAR ENDED 31 OCTOBER 2023

REPORT OF THE TRUSTEES (CONTINUED)

Coffee Shop & Conferencing

The King’s Centre is back to pre-COVID 19 levels of business and exploring new ways of working to offer the services and facilities best suited to meet the changing needs of a post-COVID 19 society.

“Absolutely amazing community space. Went for a work event and pleasantly surprised about how warm the venue felt. Vibrant friendly staff, good work spaces, and the in-house coffee shop was amazing quality at a really good price.”

– Brian Christmas, Local Guide

King’s Coffee

King’s Coffee is pleased to have resumed its work with volunteers; supporting vulnerable adults to develop selfconfidence and life skills, the unemployed to gain confidence and become work ready and Church Family to offer friendship, a listening ear and prayer.

It continues to provide great value for money and has a well-established clientele. King’s Coffee is also being used by carers as a venue to support those with additional needs and mental health challenges alongside those who are looking for a flexible space to meet with clients and work online.

KCCN Community Outreach uses the Coffee Shop to host an increasing number of events including:

The ‘Pay It Forward’ scheme continues to provide free food and refreshment to those in need.

5

KINGS CHURCH CENTRE NORWICH

FOR THE YEAR ENDED 31 OCTOBER 2023

REPORT OF THE TRUSTEES (CONTINUED)

King’s Conferencing

The King's Centre is a quality conference venue in the centre of Norwich offering multi-purpose meeting spaces suitable for small meetings to large conferences for 650 clients. The Main Auditorium is popular for large-scale events as the space is so adaptable.

Thank you SO much. The facilities were excellent and the hospitality was fantastic. We’ll definitely be returning to use your space again. – Jake Saunders, Tender

Over 100 people received expert mentoring and coaching at the annual “Sync the City” event, which took place from 23 Nov to 25 Nov 2023 at the King’s Centre, Norwich

The inaugural NWM Awards Evening was a big success, with over 120 people gathering to celebrate their colleagues, friends, and loved ones.

6

KINGS CHURCH CENTRE NORWICH

FOR THE YEAR ENDED 31 OCTOBER 2023

REPORT OF THE TRUSTEES (CONTINUED)

King’s Catering

The King’s Catering Team, bake, cook and prepare food for the Coffee Shop, King’s Conferencing and KCCN events.

KCCN has invested in kitchen improvements that have upgraded the equipment and made the facility more accessible to users.

King’s Coffee Shop, Conferencing and Catering welcome School Work Experience Placements: giving students the opportunity to try out different aspects of the hospitality sector.

Radiate Youth

‘Radiate’ is our youth work for the ages of 11-18.

We run a dedicated youth programme at each of our Sunday locations, helping the young people to access the adult teaching programmes in a way that best reaches them as well as also focusing more on issues relevant to them.

We also 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.

Over the past year we’ve seen great growth within both these events and seen them not just getting involved with ‘Radiate’ but getting involved with many other aspects of the Church, helping with our kids work ‘Generate’, the worship team and some of them even organising a quiz for the whole church to invite their friends to.

We also take our young people to two residential events each year. ‘Youth Weekend Away’ in the Autumn term and ‘Newday’ in the Summer term. We have seen great numbers coming along this year and an encouraging sense of community built through these events. As our numbers continue to grow, we are exploring new ways we can connect with, encourage and serve the young people at King’s.

7

KINGS CHURCH CENTRE NORWICH

FOR THE YEAR ENDED 31 OCTOBER 2023

REPORT OF THE TRUSTEES (CONTINUED)

King’s Kids

King’s Kids is for all children in the church family between 0-11. We run groups across the sites. At our City Centre site we have three groups, Twinklers 0-2, Sparklers 3-4 and Generate 5-11. These groups meet almost every week and the team is growing strong. We have around 50 children each week at CC, we spend time getting to know them, having fun and reading the bible. At City west we have two groups running, Twinklers 0- 4 and The Spark , 5-11. There are around 20 children who attend these groups each week.

Throughout the year we have run events across the sites to connect with the wider community. These have been a mix of film nights, fun days and will be running a Christmas event this December.

This year at City centre we have decided to invest in the older children in our group. We have set up a year 6 discipleship group who meet monthly before radiate. We eat together and then do a bible study. This has been very successful so far. At City West the children helped to write a worship song which is coming out on the King’s worship album.

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:

Worship

We are excited to announce that King's is releasing a worship album! This Is Our Worship will be available from 24th November on all major streaming platforms. Two singles, I Love You Lord and Forever And A Day, will be released in the weeks leading up to launch.

The album includes songs by our very own members of King's City Centre and City West - Ben Lock, John Raspin, and Joe Bunton, several of which you will have already heard on a Sunday morning.

This is a new venture for us and we are

very excited for you to be part of it! We will be announcing more details in the weeks to come, so please keep your eyes peeled and watch this space.

8

KINGS CHURCH CENTRE NORWICH

FOR THE YEAR ENDED 31 OCTOBER 2023

REPORT OF THE TRUSTEES (CONTINUED)

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 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 numerous groups who meet across the city and surrounding villages.

9

KINGS CHURCH CENTRE NORWICH

FOR THE YEAR ENDED 31 OCTOBER 2023

REPORT OF THE TRUSTEES (continued)

Financial review

Overall

The Charity has again been blessed by a good level of income which 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 maintain a high level of grant and donation expenditure and have a net expendiure of £165,199. The Trustees' projections indicate the Charity should have sufficient funds to continue for the foreseeable future.

Fixed Assets

A total of £23,593 (2022 : £10,364) 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 £209,783 and at the year end free reserves were £186,357. The Trustees intend to build up the level of reserves to a satisfactory position as soon as possible.

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 Stewardship UK

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.

10

KINGS CHURCH CENTRE NORWICH

FOR THE YEAR ENDED 31 OCTOBER 2023

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 the Charity to ensure it can meet its obligations as they fall due.

Despite continual maintenance, having occupied the King's Centre for 25 years, there are major cyclical maintenance 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 benefits of this wonderful facility. The Charity has been blessed with a substantial legacy which will be accounted for in the year ending 31 October 2024 which will enable such works to be undertaken.

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 2022 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 :-

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.

11

KINGS CHURCH CENTRE NORWICH

FOR THE YEAR ENDED 31 OCTOBER 2023

REPORT OF THE TRUSTEES (continued)

Auditors

MA Partners Audit LLP has indicated its willingness to continue in office as auditors.

Statement of disclosure to auditors

We, the Trustees of the Charity who held office at the date of approval of these Financial Statements, confirm that as far as we are aware at the date of approving this report, there is no relevant information, being information needed by the auditor in connection with preparing their report, of which the group's auditor is unaware, and the Trustees, having made enquiries of fellow Trustees and the group's auditor that they ought to have individually taken, have each taken all steps that they are obliged to take as a Trustee in order to make themselves aware of any relevant audit information and to establish that the auditor is aware of that information.

Small Company Exemptions

This Report is prepared in accordance with the small company exemptions provided by section 415A of the Companies Act 2006 and 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 to the UK and Republic of Ireland (FRS102) (effective 1 January 2019).

Approved by the Board of Trustees on 22 July 2024 and signed on its behalf by:

……………………………………..

S Jones - Trustee 22 July 2024

12

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 2023 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:

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:

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:

13

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:

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.

Alice Lynch 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 July 2024

14

KINGS CHURCH CENTRE NORWICH

CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES (including summary income and

expenditure account)

FOR THE YEAR ENDED 31 OCTOBER 2023

INCOME
Donations and Gifts
Income from Charitable Acivities
Investment Income
Other Income
Total Income
EXPENDITURE
Cost of Raising Funds
Fundraising trading: costs of goods
sold and other costs
Expenditure on Charitable Activities
Costs
Grants and Donations
Total Expenditure
NET (EXPENDITURE)/INCOME
Transfers between funds
NET MOVEMENTS IN FUNDS
RECONCILIATION OF FUNDS
Total Funds at 01 November 2022
Total Funds at 31 October 2023		 Notes
3.1
3.2
3.3
3.4
4.1
4.2
4.3		 Notes
3.1
3.2
3.3
3.4
4.1
4.2
4.3		 Unrestricted
Funds
2023
£
449,967
379,765
22,160
18,212		 Unrestricted
Funds
2023
£
449,967
379,765
22,160
18,212		 Unrestricted
Funds
2023
£
449,967
379,765
22,160
18,212		 Restricted
Funds

2023
£
47,087
-
-
-		 Restricted
Funds

2023
£
47,087
-
-
-		 Restricted
Funds

2023
£
47,087
-
-
-		 Total
Funds
2023
£
497,054
379,765
22,160
18,212
917,191
82,042
888,567
111,781
1,082,390
(165,199)
-
(165,199)
1,524,455
1,359,256		 Total
Funds
2022
£
737,344
286,973
17,672
9,121
3.1
3.2
3.3
3.4
4.1
4.2
4.3
870,104 47,087 1,051,110
82,042
858,564
22,686		 -
30,003
89,095		 59,193
712,728
187,534
963,292 119,098
 959,455
(93,188)
20,213		 (72,011)
(20,213)		 91,655
-
(72,975)
1,161,076		 (92,224)
363,379
 91,655
1,432,800
1,088,101 271,155
 1,524,455

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 18 to 32 form part of these Financial Statements.

15

KINGS CHURCH CENTRE NORWICH

Registered Company No:3986517

CONSOLIDATED & CHARITY STATEMENT OF FINANCIAL POSITION

AS AT 31 OCTOBER 2023

Group
Group
2023
2022
Note
£
£
FIXED ASSETS
Tangible assets
7
1,003,840 1,016,355
Investments
8
-
-
1,003,840 1,016,355
CURRENT ASSETS
Stocks
9
9,397
6,100
Debtors due within one year
10
123,250
99,766
Cash at Bank and in Hand
321,057
523,903
453,704
629,769
CREDITORS
Amounts falling due within one year
11
(79,955)
(87,458)
NET CURRENT ASSETS
373,749
542,311
Total assets less current liabilities
1,377,589 1,558,666
CREDITORS
Amounts falling due after more
than one year
12
(18,333)
(34,211)
NET ASSETS
1,359,256 1,524,455
Represented by
FUNDS
Unrestricted funds
General
13 & 14
989,592
967,011
Designated
13 & 14
98,509
194,065
Restricted funds
13 & 14
271,155
363,379
1,359,256 1,524,455		 Charity
2023
£
1,003,840
1		 Charity
2022
£
1,016,355
1
1,003,841 1,016,356
4,935
145,160
290,985		 4,700
388,592
226,019
441,080
(67,332)		 619,311
(77,001)
373,748 542,310
1,377,589
(18,333)		 1,558,666
(34,211)
1,359,256 1,524,455
989,592
98,509
271,155		 967,011
194,065
363,379
1,359,256 1,524,455

The Trustees have prepared group Financial Statements in accordance with section 398 of the Companies Act 2006 and section 138 of the Charities Act 2022. These Financial Statements are prepared in accordance with the special provisions of Part 15 of the Companies Act relating to small companies and constitute the annual Financial Statements required by the Companies Act 2006 and are for circulation to members of the Company.

The notes on pages 18 to 32 form part of these Financial Statements.

The Financial Statements on pages 15 to 32 were approved by the Trustees on 22 July 2024 and signed on their behalf by:

…………………………………….

I Nelson - Trustee 22 July 2024

16

KINGS CHURCH CENTRE NORWICH

CONSOLIDATED STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED 31 OCTOBER 2023

Notes
Total
below
Funds

2023
£
Cash flows from operating activities:
Net cash (used in) / provided by operating activities
a)
(184,119)
Cash flows from investing activities:
Interest received
5,910
Rents received
16,250
Purchase of fixed assets
(23,593)
Net cash provided by/ (used in) investing activities
(1,433)
Cash flows from financing activities:
Repayments of borrowing
(17,294)
Net cash provided by/ (used in) financing activities
(17,294)
Change in cash and cash equivalents in the year
(202,846)
Cash and cash equivalents at the start of the year
b)
523,903
Cash and cash equivalents at the end of the year
b)
321,057
a) Reconcilation of net income/(expenditure) to net cash provided by/ (used in) operating
activities
Net income/(expenditure) for the year
(as per the statement of financial activities on page 15)
(165,199)
Adjustments for:
Depreciation charges
36,108
Interest received
(5,910)
Rents received
(16,250)
(Increase)/decrease in stocks
(3,297)
(Increase)/decrease in debtors
(23,484)
Increase/(decrease) in creditors
(6,087)
Net cash (used in) / provided by operating activities
(184,119)
b) Analysis of cash and cash equivalents
Cash in hand
2,419
Notice deposits (less than 3 months)
183,702
Notice deposits (less than 6 months)
-
Notice deposits (less than 9 months)
49,937
Notice deposits (greater than 12 months)
85,000
Total cash and cash equivalents
321,057		 Notes
Total
below
Funds

2023
£
Cash flows from operating activities:
Net cash (used in) / provided by operating activities
a)
(184,119)
Cash flows from investing activities:
Interest received
5,910
Rents received
16,250
Purchase of fixed assets
(23,593)
Net cash provided by/ (used in) investing activities
(1,433)
Cash flows from financing activities:
Repayments of borrowing
(17,294)
Net cash provided by/ (used in) financing activities
(17,294)
Change in cash and cash equivalents in the year
(202,846)
Cash and cash equivalents at the start of the year
b)
523,903
Cash and cash equivalents at the end of the year
b)
321,057
a) Reconcilation of net income/(expenditure) to net cash provided by/ (used in) operating
activities
Net income/(expenditure) for the year
(as per the statement of financial activities on page 15)
(165,199)
Adjustments for:
Depreciation charges
36,108
Interest received
(5,910)
Rents received
(16,250)
(Increase)/decrease in stocks
(3,297)
(Increase)/decrease in debtors
(23,484)
Increase/(decrease) in creditors
(6,087)
Net cash (used in) / provided by operating activities
(184,119)
b) Analysis of cash and cash equivalents
Cash in hand
2,419
Notice deposits (less than 3 months)
183,702
Notice deposits (less than 6 months)
-
Notice deposits (less than 9 months)
49,937
Notice deposits (greater than 12 months)
85,000
Total cash and cash equivalents
321,057		 Total
Funds
2022
£
146,408
2,672
15,000
(10,364)
7,308
(17,718)
(17,718)
135,998
387,905
523,903
91,655
35,703
(2,672)
(15,000)
-
16,113
20,609

activities
Net income/(expenditure) for the year
(as per the statement of financial activities on page 15)
Adjustments for:
Depreciation charges
Interest received
Rents received
(Increase)/decrease in stocks
(Increase)/decrease in debtors
Increase/(decrease) in creditors
Net cash (used in) / provided by operating activities
b) Analysis of cash and cash equivalents
Cash in hand
Notice deposits (less than 3 months)
Notice deposits (less than 6 months)
Notice deposits (less than 9 months)
Notice deposits (greater than 12 months)
Total cash and cash equivalents
(165,199)
36,108
(5,910)
(16,250)
(3,297)
(23,484)
(6,087)
(184,119)
2,419
183,702
-
49,937
85,000
321,057
146,408
1,409
522,494
-
-
-
523,903

The notes on pages 18 to 32 form part of these Financial Statements.

17

KINGS CHURCH CENTRE NORWICH

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2023

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.

18

KINGS CHURCH CENTRE NORWICH

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2023

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

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
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.

19

KINGS CHURCH CENTRE NORWICH

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2023

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 £217 (2022 - £153).

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.

20

KINGS CHURCH CENTRE NORWICH

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2023

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. Following the year end the Charity has been blessed with a large legacy specifically for the maintenance and development of the King's Centre which has allowed the trustees to release most of the cyclical maintenace reserve back to general funds.

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. Due to changing needs this ceased in the year.

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.

2.10 Warm Spaces (restricted)

Warm Spaces fund was created in January 2023. We offer the community an friendly space to come for an over 55 club, afterschool club and a general open to all meeting place / family zone.

21

KINGS CHURCH CENTRE NORWICH

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2023

3
3.1
3.2
3.3
**3.4 **		 Income
Donations and Gifts
Regular Offerings
Tax Refunds including Interest
Special Offerings
Special Community project funding
Grants
Legacies
Sundry Income
Income from charitable acivities
Hire of premises & Coffee Shop
King's Books
Investment Income
Building Lease
Interest Received
Other Income
Salary Support Income
Total Income		 Group
Unrestricted
Funds
2023
£
364,760
60,729
1
-
4,169
500
19,808		 Group
Unrestricted
Funds
2023
£
364,760
60,729
1
-
4,169
500
19,808		 Group
Unrestricted
Funds
2023
£
364,760
60,729
1
-
4,169
500
19,808		 Group
Restricted
Funds
2023
£
781
5,213
37,395
698
3,000
-
-		 Group
Restricted
Funds
2023
£
781
5,213
37,395
698
3,000
-
-		 Group
Restricted
Funds
2023
£
781
5,213
37,395
698
3,000
-
-		 Group
Total
Funds
2023
£
365,541
65,942
37,396
698
7,169
500
19,808
497,054
374,820
4,945
379,765
16,250
5,910
22,160
18,212
18,212
917,191		 Group
Total
Funds
2022
£
413,084
102,300
161,105
838
46,259
-
13,758
Funds
2023
£
364,760
60,729
1
-
4,169
500
19,808
449,967 47,087 737,344
374,820
4,945		 -
-		 283,399
3,574
379,765 - 286,973
16,250
5,910		 -
-		 15,000
2,672
22,160 - 17,672
18,212 - 9,121
18,212 - 9,121
870,104 47,087 1,051,110

Of the £1,051,110 income in 2022, £826,947 related to unrestricted funds and £224,163 restricted funds.

22

KINGS CHURCH CENTRE NORWICH

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2023

4
4.1
4.2
**4.3 **		 Expenditure
Expenditure on Generating Funds
Hire of premises & Coffee Shop costs
King's Books
Expenditure on Charitable Activities
Salaries and Ministry
Travel, Conferences and Accommodation
Books and Tapes
Refreshment Bar
Subscriptions
Hospitality
Sundries
Printing, Postage and Stationery
Electronic Communications
IT
Equipment Hire
Telephone
Building Running Costs and Utilities
Insurance
Rent
Depreciation
Mortgage & Loan Interest
Bank Charges
Non-refundable VAT
Repairs and Maintenance
Governance Costs (see note 6)
Grants and Donations Given
Gifts and Donations
Special Community Projects
Total Expenditure		 Group
Unrestricted
Funds
2023
£
78,284
3,758		 Group
Unrestricted
Funds
2023
£
78,284
3,758		 Group
Unrestricted
Funds
2023
£
78,284
3,758		 Group
Restricted
Funds
2023
£
-
-		 Group
Restricted
Funds
2023
£
-
-		 Group
Restricted
Funds
2023
£
-
-		 Group
Total
Funds
2023
£
78,284
3,758
82,042
548,681
21,994
2,413
10,648
5,218
1,771
6,001
5,453
590
13,899
9,635
6,828
82,060
7,517
10,963
36,108
1,470
2,622
15,482
79,889
19,325
888,567
90,083
21,698
111,781
1,082,390		 Group
Total
Funds
2022
£
56,689
2,504
82,042 - 59,193
541,726
21,994
2,413
10,648
5,218
1,771
6,001
5,453
590
13,899
9,635
6,828
82,060
7,517
10,963
13,060
1,470
2,622
15,482
79,889
19,325		 6,955
-
-
-
-
-
-
-
-
-
-
-
-
23,048
-
-
-
-
-		 468,891
18,719
2,132
4,347
6,463
206
6,159
3,212
161
9,674
6,492
5,078
59,618
6,146
10,998
35,703
1,404
2,450
8,974
35,205
20,696
858,564 30,003 712,728
22,686
-		 67,397
21,698		 158,013
29,521
22,686 89,095 187,534
963,292 119,098
 959,455

Of the £959,455 expenditure in 2022, £741,592 related to unrestricted funds and £217,863 restricted funds.

23

KINGS CHURCH CENTRE NORWICH

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2023

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
Local church planting and support
International church planting & support
Christian youth support projects
Regional New Frontiers projects
Missionary work abroad
Famine/Disaster relief
International Christian projects
Christian literature & evangelism
Total Donations in year		 Organisations
Individuals
£
£
17,200
-
8,670
5,000
10,700
-
1,667
-
7,807
-
-
3,300
28,062
-
-
-
2,442
5,235
76,548
13,535
90,083
2023
Gifts and Donations to :		 Organisations Individuals
£
£
12,017
-
369
-
31,420
-
476
-
12,097
-
-
2,340
67,222
-
27,000
-
848
4,224
2022
Gifts and Donations to :		 Organisations Individuals
£
£
12,017
-
369
-
31,420
-
476
-
12,097
-
-
2,340
67,222
-
27,000
-
848
4,224
2022
Gifts and Donations to :
151,449
6,564
158,013

The total donations made to charities in the year was £48,576 and £137,739 in the previous year.

6 Governance Costs
Audit Fees
Professional Fees		 Group
Group
Unrestricted
Restricted
General
Funds
Fund
£
£
7,400
-
11,925
-
19,325
-		 Group
Group
Total
Total
2023
2022
£
£
7,400
5,745
11,925
14,951
19,325
20,696

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.

24

KINGS CHURCH CENTRE NORWICH

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2023

7 Tangible Fixed Assets - Group & Charity

COST
At 1 November 2022
Additions
Disposals
At 31 October 2023
DEPRECIATION
At 1 November 2022
Charge for Year
Eliminated on disposals
At 31 October 2023
NET BOOK VALUE
At 31 October 2023
At 31 October 2022		 Freehold
Land &
Buildings
£
1,522,393
-
-		 Fixtures &
Total
Equipment
£
£
375,541
1,897,934
23,593
23,593
(6,225)
(6,225)
1,522,393 392,909
1,915,302
529,342
23,048
-		 352,237
881,579
13,060
36,108
(6,225)
(6,225)
552,390 359,072
911,462
970,003 33,837
1,003,840
993,051 23,304
1,016,355

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 (2022 £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
10		 Stocks
Raw Materials
Finished Goods for resale
Debtors and Prepayments
Trade Debtors
Other Debtors
Due from Subsidiary
Income Tax Recoverable		 Group
2023
£
4,462
4,935		 Group
2023
£
4,462
4,935		 Group
2022
£
1,400
4,700		 Group
2022
£
1,400
4,700		 Charity
2023
£
-
4,935		 Charity
2023
£
-
4,935		 Charity
2022
£
-
4,700		 Charity
2022
£
-
4,700
9,397 6,100 4,935 4,700
Group
2023
£
41,211
3,743
-
78,296		 Group
2022
£
32,213
635
-
66,918		 Charity
2023
£
-
3,743
63,121
78,296		 Charity
2022
£
-
635
321,039
66,918
123,250 99,766 145,160 388,592

25

KINGS CHURCH CENTRE NORWICH

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2023

11 Creditors - Amounts falling due within one year

11 Creditors- Amounts falling due within one year ar
12 Bank Loan
Member's loans
Trade Creditors
Deferred Income
Accruals
Taxation and Social Security Costs
Other Creditors
Deferred income b/f
Released in the year
Added in the year
Deferred income c/f
Creditors- Amounts falling due after more than		 Group
2023
£
10,000
5,965
14,782
2,750
35,158
11,083
217		 Group
2022
£
10,000
7,381
14,988
2,500
23,645
28,791
153		 Charity
2023
£
10,000
5,965
5,059
2,750
32,258
11,083
217		 Charity
2022
£
10,000
7,381
6,681
2,500
21,495
28,791
153
79,955 87,458 67,332 77,001
2,500
(2,500)
2,750		 4,791
(4,791)
2,500		 2,500
(2,500)
2,750		 4,791
(4,791)
2,500
2,750 2,500 2,750 2,500
one year
Bank Loan
Members Loans
Bank and other loans are repayable as follows:
Due within one year
Due between two and five years		 Group
2023
£
18,333
-		 Group
2023
£
18,333
-		 Group
2022
£
28,333
5,878		 Group
2022
£
28,333
5,878		 Charity
2023
£
18,333
-		 Charity
2023
£
18,333
-		 Charity
2022
£
28,333
5,878		 Charity
2022
£
28,333
5,878
18,333 34,211 18,333 34,211
15,965
18,333		 17,381
34,211		 15,965
18,333		 17,381
34,211
34,298 51,592 34,298 51,592

26

KINGS CHURCH CENTRE NORWICH

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2023

13 Reconciliation of Movements in Funds - Group 2023

As At
Income
Transfers
As At
1 Nov 2022
Expenditure
To/(From)
31 Oct 2023
£
£
£
£
£
Undesignated General Fund
967,011
870,104
(894,837)
47,314
989,592
Designated Funds:
Cyclical Maintenance Fund
130,803
-
(46,879)
(74,000)
9,924
Giving Fund
48,885
-
(21,042)
41,899
69,742
Site Specific Fund
14,377
-
(534)
5,000
18,843
Total Designated Funds
194,065
-
(68,455)
(27,101)
98,509
Restricted Funds:
King's Centre Fund
223,653
-
(23,048)
-
200,605
King's Care Fund
1
831
(5,885)
5,053
-
Warm Spaces
-
3,628
(5,518)
2,203
313
Gift Days Fund
120,580
29,708
(47,726)
(36,190)
66,372
The Venue
10,575
20
(19,315)
8,721
1
Specific Gift Fund
8,570
12,900
(17,606)
-
3,864
Total Restricted Funds
363,379
47,087
(119,098)
(20,213)
271,155
Total Funds
1,524,455
917,191
(1,082,390)
-
1,359,256
Reconciliation of Movements in Funds- Charity 2023
As At
Income
Transfers
As At
1 Nov 2022
Expenditure
To/(From)
31 Oct 2023
£
£
£
£
£
Undesignated General Fund
967,011
870,104
(894,837)
47,314
989,592
Designated Funds:
Cyclical Maintenance Fund
130,803
-
(46,879)
(74,000)
9,924
Giving Fund
48,885
-
(21,042)
41,899
69,742
Site Specific Fund
14,377
-
(534)
5,000
18,843
Total Designated Funds
194,065
-
(68,455)
(27,101)
98,509
Restricted Funds:
King's Centre Fund
223,653
-
(23,048)
-
200,605
King's Care Fund
1
831
(5,885)
5,053
-
Warm Spaces
-
3,628
(5,518)
2,203
313
Gift Days Fund
120,580
29,708
(47,726)
(36,190)
66,372
The Venue
10,575
20
(19,315)
8,721
1
Specific Gift Fund
8,570
12,900
(17,606)
-
3,864
Total Restricted Funds
363,379
47,087
(119,098)
(20,213)
271,155
Total Funds
1,524,455
917,191
(1,082,390)
-
1,359,256		 As At
Income
Transfers
As At
1 Nov 2022
Expenditure
To/(From)
31 Oct 2023
£
£
£
£
£
967,011
870,104
(894,837)
47,314
989,592
130,803
-
(46,879)
(74,000)
9,924
48,885
-
(21,042)
41,899
69,742
14,377
-
(534)
5,000
18,843
194,065
-
(68,455)
(27,101)
98,509
223,653
-
(23,048)
-
200,605
1
831
(5,885)
5,053
-
-
3,628
(5,518)
2,203
313
120,580
29,708
(47,726)
(36,190)
66,372
10,575
20
(19,315)
8,721
1
8,570
12,900
(17,606)
-
3,864
363,379
47,087
(119,098)
(20,213)
271,155
1,524,455
917,191
(1,082,390)
-
1,359,256
Undesignated General Fund
Designated Funds:
Cyclical Maintenance Fund
Giving Fund
Site Specific Fund
Total Designated Funds
Restricted Funds:
King's Centre Fund
King's Care Fund
Warm Spaces
Gift Days Fund
The Venue
Specific Gift Fund
Total Restricted Funds
Total Funds
130,803
-
(46,879)
(74,000)
9,924
48,885
-
(21,042)
41,899
69,742
14,377
-
(534)
5,000
18,843
194,065
-
(68,455)
(27,101)
98,509
223,653
-
(23,048)
-
200,605
1
831
(5,885)
5,053
-
-
3,628
(5,518)
2,203
313
120,580
29,708
(47,726)
(36,190)
66,372
10,575
20
(19,315)
8,721
1
8,570
12,900
(17,606)
-
3,864
363,379
47,087
(119,098)
(20,213)
271,155
1,524,455
917,191
(1,082,390)
-
1,359,256

14 Reconciliation of Movements in Funds - Charity 2023

27

KINGS CHURCH CENTRE NORWICH

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2023

15 Reconciliation of Movements in Funds - Group 2022

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

16 Reconciliation of Movements in Funds - Charity 2022

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

28

KINGS CHURCH CENTRE NORWICH

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2023

17 Analysis of net assets between the Funds - Group 2023

Undesignated General Fund
Designated Funds:
Cyclical Maintenance Fund
Giving Fund
Site Specific Fund
Total Designated Funds
Restricted funds
King's Centre Fund
King's Care Fund
Warm Spaces
Gift Days Fund
The Venue
Specific Gift Fund
Total Restricted Funds
Total Funds		 Tangible
Net
Long Term
Fixed
Current
Liabilities
Total
Assets
Assets
2023
£
£
£
£
803,235
204,690
(18,333)
989,592
-
9,924
-
9,924
-
69,742
-
69,742
-
18,843
-
18,843
-
98,509
-
98,509
200,605
-
-
200,605
-
-
-
-
-
313
-
313
-
66,372
-
66,372
-
1
-
1
-
3,864
-
3,864
200,605
70,550
-
271,155
1,003,840
373,749
(18,333)
1,359,256

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 2023

Undesignated General Fund
Designated Funds:
Cyclical Maintenance Fund
Giving Fund
Site Specific Fund
Total Designated Funds
Restricted funds
King's Centre Fund
King's Care Fund
Warm Spaces
Gift Days Fund
The Venue
Specific Gift Fund
Total Restricted Funds
Total Funds		 Tangible
Net
Long Term
Fixed
Current
Liabilities
Total
Assets
Assets
2023
£
£
£
£
803,236
204,689
(18,333)
989,592
-
9,924
-
9,924
-
69,742
-
69,742
-
18,843
-
18,843
-
98,509
-
98,509
200,605
-
-
200,605
-
-
-
-
-
313
-
313
-
66,372
-
66,372
-
1
-
1
-
3,864
-
3,864
200,605
70,550
-
271,155
1,003,841
373,748
(18,333)
1,359,256

29

KINGS CHURCH CENTRE NORWICH

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2023

19 Analysis of net assets between the Funds - Group 2022

Tangible
Net
Long Term
Fixed
Current
Liabilities
Total
Assets
Assets
2022
£
£
£
£
Undesignated General Fund
792,702
208,520
(34,211)
967,011
Designated Funds:
Cyclical Maintenance Fund
-
130,803
-
130,803
Giving Fund
-
48,885
-
48,885
Site Specific Fund
-
14,377
-
14,377
Total Designated Funds
-
194,065
-
194,065
Restricted funds
King's Centre Fund
223,653
-
-
223,653
King's Care Fund
-
1
-
1
Warm Spaces
-
-
-
-
Gift Days Fund
-
120,580
-
120,580
The Venue
-
10,575
-
10,575
Specific Gift Fund
-
8,570
-
8,570
Total Restricted Funds
223,653
139,726
-
363,379
Total Funds
1,016,355
542,311
(34,211)
1,524,455
Analysis of net assets between the Funds- Charity 2022
Tangible
Net
Long Term
Fixed
Current
Liabilities
Total
Assets
Assets
2022
£
£
£
£
Undesignated General Fund
792,703
208,519
(34,211)
967,011
Designated Funds:
Cyclical Maintenance Fund
-
130,803
-
130,803
Giving Fund
-
48,885
-
48,885
Site Specific Fund
-
14,377
-
14,377
Total Designated Funds
-
194,065
-
194,065
Restricted funds
King's Centre Fund
223,653
-
-
223,653
King's Care Fund
-
1
-
1
Warm Spaces
-
-
-
-
Gift Days Fund
-
120,580
-
120,580
The Venue
-
10,575
-
10,575
Specific Gift Fund
-
8,570
-
8,570
Total Restricted Funds
223,653
139,726
-
363,379
Total Funds
1,016,356
542,310
(34,211)
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.		 Tangible
Net
Long Term
Fixed
Current
Liabilities
Total
Assets
Assets
2022
£
£
£
£
792,702
208,520
(34,211)
967,011
-
130,803
-
130,803
-
48,885
-
48,885
-
14,377
-
14,377
-
194,065
-
194,065
223,653
-
-
223,653
-
1
-
1
-
-
-
-
-
120,580
-
120,580
-
10,575
-
10,575
-
8,570
-
8,570
223,653
139,726
-
363,379
1,016,355
542,311
(34,211)
1,524,455

Undesignated General Fund
Designated Funds:
Cyclical Maintenance Fund
Giving Fund
Site Specific Fund
Total Designated Funds
Restricted funds
King's Centre Fund
King's Care Fund
Warm Spaces
Gift Days Fund
The Venue
Specific Gift Fund
Total Restricted Funds
Total Funds
-
130,803
-
130,803
-
48,885
-
48,885
-
14,377
-
14,377
-
194,065
-
194,065
223,653
-
-
223,653
-
1
-
1
-
-
-
-
-
120,580
-
120,580
-
10,575
-
10,575
-
8,570
-
8,570
223,653
139,726
-
363,379
1,016,356
542,310
(34,211)
1,524,455

20 Analysis of net assets between the Funds - Charity 2022

30

KINGS CHURCH CENTRE NORWICH

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2023

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
Social Security Costs
Pension Contributions
Average weekly number of employees		 Group
2023
£
491,835
33,962
22,885		 Group
2023
£
491,835
33,962
22,885		 Group
2022
£
419,594
29,289
20,008		 Group
2022
£
419,594
29,289
20,008		 Charity
2023
£
289,025
33,962
22,885		 Charity
2023
£
289,025
33,962
22,885		 Charity
2022
£
267,660
29,289
20,008		 Charity
2022
£
267,660
29,289
20,008
548,681 468,891 345,871 316,957
Group
2023
No.
15		 Group
2022
No.
13		 Charity
2023
No.
8		 Charity
2022
No.
7

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 £182,915 (2022: £175,493).

22 Capital Commitments - Group & Charity

Capital expenditure that has been contracted for but has
not been provided for in the financial statements
Capital expenditure that has been authorised but not
contracted for or provided for in the financial statements		 2023
£
-
-		 2022
£
-
-

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 foreseeable future.

31

KINGS CHURCH CENTRE NORWICH

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2023

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.

The following payments were made to employees related to trustees:

Individual
Trustee
Relationship
to trustee
A Magee
K Magee
Spouse
A Nelson
I Nelson
Son
H Drew
J Drew
Spouse
A Hopley
K Vinson
Sister-in-law
F Pull
D Pull
Daughter		 2023
£
-
748
14,114
41,738
2,958		 2022
£
14,529
739
-
38,913
-

Donations made to the Charity by Trustees, Elders and their close family members in the year totalled £79,092 (2022: £136,170).

25 Contingent Liabilities - Group & Charity

There were no contingient liabilities as at 31 October 2023 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 £22,885 (2022: £20,008) 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 £217 (2022: £153).

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.

KCCFN KCCFN
2023 2022
£ £
Turnover 378,996 284,005
Cost of Sales (313,528) (225,849)
Gross Profit 65,468 58,156
Other Income 2,361 4,653
Administrative expenses (67,330) (62,260)
Net Profit 499 549
Gift Aid to Kings Church Centre Norwich (499) (549)
Retained profit / (loss) - -
The aggregate of the assets, liabilities and funds was:
Assets 75,745 331,497
Liabilities (75,744) (331,496)
1 1

29 Charity's Net Income/(Expenditure)

The Charity had net expenditure for the year of £165,696 (2022: net income for the year of £91,105).

32