2024-03-31-accounts

REGISTERED CHARITY NUMBER: 1087562 [4 KnightsLowe Chartered Accountants & Business Advisers Re ort of the Trustees and Unaudlted Financlal Statements for the Year Ended 31 March 2024 for Kln ate Churth Trust Knights Lowe Chartered Accountants Eldo House Kempson Way Suffolk Business Park Buryst Edmunds Suffolk IP32 7AR Eldo House. Kemp50n Way, Suffolk 8usine55 Park Bury St Edmunds, Sufft)IL IP32 7AR . & 01284 7013(K) [e-mail] knightslowe.co.uk

Kin ate Church Tr Contents of the Flnanclal Statements forthe Year Ended 31 March 2024 Pa8e Report of the Trustees Independent Examlner's Report Statement of Financlal Activities Balance Sheet Notes to the Flnanclal Statements 8 to 13 Detailed Statement of Financial Artivities 14

Kin ate Church Trust ort of the Trustees for the Year Ended 31 March 2024 The trustees present their report with the financial statements of the charity for the year ended 31 March 2024. The trustees have adopted the provision5 of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 (effective l January 20191. OBJEcfivES AND AcfiviTIES Objectlves and aims The charity, which 15 3 church, is governed by a trust deed and is constituted as a trust. The trust seeks to demonstrate the Christian faith in action by.. Advancing the Christian faith in Bury St Edmunds, in the United Kingdom and the world. To relieve distress caused by hardship, need or those who are aged or sick in Bury St Edmunds, in the United Kingdom and the world. Public benefit The Trustees consider that they have complied with the duty regarding Public Beftefit as detailed in section 4 of the Charities Act, having due regard to guidance published by the Charity Commission. Grantmaklng In line with our strate8ic plan to purchase a building and increase our impact within the community, we have reduced grants to other organisations from 34% to 20% of total expenditure. This decision reflects our commitment to direct resources towards our 8rowth and outreach efforts. Our grant policy can be essentially split in two= Grants for other organisations,. our policy has always been to examine both the purpose of the organisation and what the provided funds will be aimed at. These uses must conform to our charitable aims, we ask for regular reports on outcomes from these other organisations. Grants for individuals,. essentially these are hardship grants, and vary in what they are tar8eted at, whether it is purchasing a weekly shop for someone or 5UPPOrting with the purchase of white goods. For any monetary figures given a budgeting proforma is run through with the individual to assist them in understanding the total picture. These forms of assistance a rarely in isolation and we make regular referrals to other charities and agencies as required. Page I

Kin ate Church Trust Re ort of the Trustees for the Year Ended 31 March 2024 ACHIEVEMENT AND PERFORMANCE Review of Church Activities This year marked a return to consistent and regular contart between the church and the community. Following the lifting of lockdown restrictions, we have focused on strengthening our relationships and increasing our impact within the community. We have expanded our initiatives, which include: All our existing pro8rammes continued to provide growth and impact, includin8'. The Hangout: A weekly youth meeting in the town centre, providing a safe space foryoung people to gather. learn, and grow together. Annual Trips to Newday: We have resumed these trips, allowing us to sponsor young individuals from the local community to attend a we ek ofworship and fellowship. The Allotment: Our community allotment provides opportunities for individua15 to connect and improve their mental health t hrough gardenin8 and community activities. Prlson Alpha: This program continues to offer inmates the opportunity to explore faith in a supportive environment, w ith several prisoners experiencing personal transformation through our courses. Women's Aid: Through partnerships with local organizations like Gina's Salon, we provide safe spaces for women to regain confidence and build social connections. As tfustees we have instituted measurement processes to allow us to understand and measure impact made. We monitor quarterly but receive reports annually for each initiative, this includes the number of individuals reached with the gospel, and where applicable the number who have a made a commitment to Christ. Within this financial year each initiative was considered both a succe55 and growing, of particular note is the expansio of the new day sponsored places, and the expansion of the pastoral care team, allowing for more focused support to be provided. FINANCIAL REVIEW Financial position During this year, both our income and expenditure decreased refletting the additional three months included in the prior period. The charitys cash holdin85 increased from £255,902 to £286,636. The accounts show the charity had net incoming resources for the year of £26,51812023.. £51,025). At the year end the charity had total reserves of £327,95012023.' £301,432). Reserves available for general charitable purposes were £227,20812023'.1£190.2801. Reserves held in fixed assets totalled £10,42312023: £20,833}. Additionally £89.41912023.. £89,419) was reserved in the Venue Wision fund, supporting our Boal of a future property purchase. The excess funds will also help fund new initiatives and allow for the expansion of our employed team to betterseNe the community. Reserves pollcy The trustees have determined that the charity should aim to hold unrestricted cash reserves of no less than £50,000, equivalent to about six months of unrestricted expenditure. Additionally, we are growing a Building Fund in line with our aim of a future purchase. STRucfuRE, GOVERNANCE ANO MANAGEMENT Governing document The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity. Decision making Strategic direction and decisions are made by the Trustees, in consultation with the Elders; he Elders being responsible for the spiritual governing and teaching of the church. All budgets are set and monitored by the Trustees, with individual budget holders being responsible for expenditure within their area of church life. Trustees are appointed bv the Elder5 and are required to declare their belief in and allegiance to the Statement of Beliefs. Page 2

Kin ate Church Trust Re rtheye ort of the Trustees r Ended 31 March 2024 STRUCTURE, GOVERNANCE AND MANAGEMENT Kingsgate Church Kingsgate Church is self-supporting. The charity is a member of the Newfrontiers family of Churches and of the Evangelical Alliance and is actively involved with the charity Relational Mission. Kingsgate Church is part of the Churches Together in 8urySt Edmunds and members of Kingsgate meetwith otherchurch leaders. Personnel Changes Our board has continued to evolve, with Steve Bi885 and Naomi Everett leaving the trustees within 23-24. We are grateful for their contributions and commitment, which have greatly benefited the Church. While this took us bel¢)w our optimum number of trustees, we have a target of 7 to be able cover holidays and other absences we were able to, further mature our governance and processes. Day to day operations of the charity are delegated to the church administrator, Jenny Jackwitch and the lead elder Dave Richardson. Further advice is provided by the treasurer David Shepheard. Search for Building As part of our ongoing mission, we have been actively seeking a permanent base for the church and have viewed and reviewed several potential buildings. This process has shaped our reserves policy, with our aim to secure a central location in Bury St Edmunds from which we can expand our social outreach capabilities. We recognize the importance of a stable and accessible location to better seNe our community and ensure long-term sustainability. REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number 1087562 Principal address Office D Hoste House IURCI Whiting Street Bury St Edmunds Suffolk IP33 INR TNstees John Nicholson Chair Deborah Frappell (appointed 18.11.241 Claire Elaine O'Riordan Jean-Paul Delport Francis Edward John Coningsby Independent Examiner James Knights ACA Knights Lowe Chartered Accountants Eldo House Kempson Way Suffolk Business Park Bury St Edmunds Suffolk IP32 7AR Page 3

Kin ate Church Trust Re rt of the Trustees for the Year Ended 31 March 2024 REFERENCE AND ADMINISTRATIVE DETAILS Bankers CAF Bank 25 Kings Hill Avenue Kings Hill West Mallin8 Kent ME19 4JQ STATEMENT OF TRUSTEES, RESPONSIBILITIES The trustees are responsible for preparin8 the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accountin8 standards (United Kingdom Generally Accepted Accounting Practice). The law applicable to charities in England and Wales, the Charitie5 Act 2011, Charity (Accounts ènd Reports) Regulations 2008 and the provisions of the trust deed requires the trustees to prepare financial statements for each financial year whith give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, includin8 the income and expenditure, of the charity for that period. In preparing those financial statements. the trustees are required to select suitable accounting policies and then apply them consistently,. observe the methods and principles in the Charity SORP,. make judgements and estimates that are reasonable and prudent,. prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business. The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Report51 Regulations 2CQ8 and the provision5 of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Approved by order of the board of trustees on . and signed on its behalf by: John Nicholson- Trustee Page 4

Inde ent Examiner's Re ort to the Trustees of Kln Ch rch Trust Independent examiner's report to the trustees of KlnEsgate Church Trust I report to the charity trustees on my examination of the accounts of Kingsgate Church Trust (the Trust) for the year ended 31 March 2024. Respoftsibilities and basls of report As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 20111'the Act'l. I report in respect of my examination of the Trust's accounts carried out under Section 145 of the Att and in carryin8 out my examination I have followed all applicable Direttions given by the Charity Commission under Section 14515llbl of the Act. Independent examiner's statement I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination 8ivin8 me cause to believe that in any material respect.. ccounting records were not kept in respect of the Trust as required by Section 130 of the Act; or the accounts do not accord with those records- or the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Report51 Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. James Knights ACA The Institute of Chartered Accountants in England and Wales Knights Lowe Chartered Accountants Eldo House Kempson Way Suffolk Business Park Bury St Edmunds Suffolk IP32 7AR Date.. Page 5

Kin ate Church Trust Statement of Financial Actlvlties foi the Year Ended 31 March 2024 Period 1.1.22 to 31.3.23 Total funds Year Ended 31.3.24 Total funds Unrestrirted fund Restricted funds Notes INCOME AND ENDOWMENTS FROM Donations and legacies 167,562 6,922 174,484 213,398 Investment income 5,604 1,770 Total 173,166 6,922 180,088 215,168 EXPENDITURE ON Charltable activlties Church activities 146,648 6,922 153,570 164,143 NET INCOME 26,518 26,518 51,025 RECONCILIATION OF FUNDS Totsl funds brought forward 211.113 90.319 301,432 250,407 TOTAL FUNDS CARRIEO FORWARD 237,631 90,319 327,950 301,432 The notes form part of these financial ststements Page 6

Kin ate Church Trust Balance Sheet 31 March 2024 2024 Total funds 2023 Total funds Unrestricted fund Restricted funds Notes FIXEDASSETS Tangible assets 10,423 10,423 20.833 CURRENT ASSETS Debtors Cash at bank and in hand 40,473 196,317 40.473 286.636 26,857 255,903 90,319 236,790 90,319 327,109 282,760 CREDITORS Amounts falling due within one year io (9,582) (9,582) 12,1611 NET CURRENT ASSETS 227,208 90.319 317,527 280,599 TOTAL ASSETS LESS CURRENT LIABIUTIES 237,631 90,319 327,950 301,432 NET ASSETS 237,631 90,319 327,950 301,432 FUNDS Unrestricted funds Restricted funds.. Venue Vision Fellowship li 237,631 211,113 89.819 89,819 5CiI 90,319 90,319 TOTAL FUNDS 327,950 301,432 The financial statements were approved by the Board of Trustees and authorised for issue and were signed on its behalf by: on Trustee The notes form part of these financial statements Page 7

Kin ate Church Trust Notes to the Financial Ststements for the Year Ended 31 March 2024 ACCOUNTING POLICIES Basis of preparing the financial statements The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP IFRS 1021 'Accountin8 and Reporting by Charities: statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 (effective l January 20191,, Financial Reportin8 Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, and the Charities Act 2011. The financial statements have been prepared under the historical cost convention. These accounts have been prepared in Pound sterlin& the functional currenLry of the charity, with rounding to whole pounds, on an accruals basis. The management has concluded that the financial statements give a true and fair view of the entitvs financial position, financial performance, a true and fair override has been used to apply the Charities SORP IFRS 1021 under the Charities (Accounts and Reports) Regulations 2tXJ8, it has complied with FRS 102, the SORP except that it has departed from a particular requirement of this SORP to the extent necessary to give a true and fair view. Cash in hand Ipetty cashl and amounts held in the current account are defined as highly liquid assets. Creditors 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 are normally recognised at their settlement amount. Critical accountlng Judgements and key sources of estlmation uncertainty Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The charity make5 estimates and assumptions concerning the future. The resulting accounting estimates and assumptions will, by definition, seldom equal the related actual results. No judgements lapart from those involving estimates) have been made in the process of applyin8 the above accounting policies. The key assumptions concerning the future and key sources of estimation of uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are the estimation of the useful economic life of furniture and equipment. Income All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. Expenditure Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headin8S that a￿regate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. Grants offered subjett to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure. Tangible fixed assets Tangible fixed assets are fully written off over a period of three years on a strai8ht-line basis. Page 8 continued...

Kin rch Trust Notes to the Financial Statements- continued for the Year Ended 31 March 2024 ACCOUNTING POLICIES- contlnued Taxation The charity is exempt from tax on its charitable activities. Fund accounting Unrestricted funds can be used in accordance with the charitable objective5 at the discretion of the trustee5. Restricted fund5 can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. The charity Currently has restricted funds as follows.. Venue Wision for the purpose of a future building purchase. for the purpose of helping individuals either within the church, or outside of the church, who may be in financial need financial activity fund for the church weekend awaytr which was previously hosted at Belsey Bridge for giving to church planting activity. and it is not going to be used on an ongoing basis. Fellowship Fund Belsey Brldge event Mission funds Pension costs and other post-retirement beneflts The charity operates a defined contribution pension scheme. Contributions payable to the charity's pension scheme are charged to the Statement of Financial Activities in the period to which they relate. INVESTMENT INCOME Period 1.1.22 to 31.3.23 Year Ended 31.3.24 Deposit account interest 5,604 1.770 GRANTS PAYABLE Period 1.1.22 to 31.3.23 Year Ended 31.3.24 Church activities 22,102 8,144 Page 9 continued...

Kin ate Church Trust Notes to the Financial Statements- continued for the Year Ended 31 March 2024 GRANTS PAYABLE- tontinued The total grants paid to institutions during the year was as follows: Period 1.1.22 to 31.3.23 Year Ended 31.3.24 Relational Mission Bury Christian Youth Empart Promised future grant funding Pioneer Mission Revalation Church Other Missions 5,130 22,394 4,500 8,250 128,200 4,180 3,402 22,002 6,944 TRUSTEES. REMUNERATION AND BENEFITS There were no trustees, remuneration or other benefits for the year ended 31 March 2024 nor for the period ended 31 March 2023. Trustees, expenses A trustee was reimbursed for expenditure relating to allotment and Sunday refreshment & communion, totsllin8 £58412023.. £2,397). STAFF COSTS The average monthly number of employees during the year was as follows.. Period 1.1.22 to 31.3.23 Year Ended 31.3.24 Employees No employees received emoluments in excess of £60.000. Page 10 continued...

Kin ate Church Tfust Notes to the Financial Statements- continued for the Year Ended 31 March 2024 INDEPENDENT EXAMINER'S FEES 2024 2023 Fees for Independent Examination 2,280 2,160 DEFINED CONTRIBUTION PLANS Total employee and employer contributions of £3,913 were recognised in the SOFA during the year 12023.. £3,423). These costs are paid from the general fund. TANGIBLE FIXED ASSETS Equipment COST At l April 2023 and 31 March 2024 31.241 DEPRECIATION At l April 2023 Charge for year 10,408 10,410 At 31 March 2024 20,818 NET BOOKVALUE At 31 March 2024 10,423 At 31 March 2023 20,833 DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Other debtors Prepayments 39,876 597 26,857 40,473 26,857 Page 11 continued...

Kin ate Church Trust Notes to the Financial Statement5- continued for the Year Ended 31 March 2024 io. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Taxation and social security Other creditors 9,095 2,161 9,582 2,161 ii. MOVEMENT IN FUNDS Net movement in funds At 31.3.24 At 1.4.23 Unfestricted funds General fund 211,113 26,518 237,631 Restrirted funds Venue Vision Fellowship 89,819 5CW) 89,819 500 90,319 90,319 TOTAL FUNDS 301,432 26,518 327,950 Net movement in funds, included in the above are as follows: Incoming resources Resources expended Movement in funds Unrestricted fvnds General fund 173,166 1146,6481 26,518 Restrlrted funds Belsey Bridge event 6,922 {6,922) TOTAL FUNDS 180,088 (153,570) 26,518 Page 12 continued...

Kin ate Church Trust Notes to the Financial Statements- continued for the Year End 31 March 2024 ii. MOVEMENT IN FUNDS- continued Comparatives for movement in funds Net movement in funds At 31.3.23 At 1.1.22 Unrestricted funds General fund 198,320 12,793 211,113 Restrirted funds Venue Vision Fellowship Belsey Bridge event 48,658 500 2,929 41,161 89,819 5Crf) 12,9291 52,087 38,232 90,319 TOTAL FUNDS 250,407 51,025 301,432 Comparative net movement in funds, included in the above are as follows.. Incoming resources Resources expended Movement in funds Unrestrlrted funds General fund 167,610 1154,8171 12,793 Restricted funds Venue Vision Belsey Bridge event 41,161 6,397 41,161 12,9291 19,3261 47,558 19,3261 38,232 TOTAL FUNDS 215,168 1164,1431 51,025 12. RELATED PARTY D15CLOSURES Salary payments totallin8 £5,200 12023: £3,467) were made to Eleanor Delport related to trustees Jean-Paul Delport and Claire O'Riorden. These transactions were conducted on normal employee/employer terms, on an arm's length basis. £433 was owed to her at the year end12023 £nill. Further detailed breakdowns of these payments are available on request. Donations without conditions totalling £22,859 12023.. £34,6751 were received from trustee5/related parties during the period. Page 13

Kin ate Church Twust Detailed Statement of Financial Artivities for the Year Ended 31 March 2024 Period 1.1.22 to 31.3.23 Year Ended 31.3.24 INCOME AND ENDOWMENTS Donatlons and legacles Donations Gift aid Other income 139,667 26,041 8,776 178,420 26,857 8,121 174,484 213,398 Investment income Deposit account interest 1.770 Total incoming resouices 180,088 215,168 EXPENDITURE Charitsble activities Wages Pensions Hire of premises and Storage unit Outreach attivities Church running costs Insurance Governance Computer and software costs Other charitable expenses Depreciation of equipment Grants to institutions Grants to individuals 43,829 1,107 21,516 19,455 6,585 1.441 5,115 1,860 17,250 10,410 22,002 100 45,488 1,085 24,227 23,437 8.764 1.649 3,997 4,351 30,357 10,408 6,944 1,200 150.670 161,907 Support costs Flnance Bank charges 620 76 Govemance costs Accountancy and legal fees 2,280 2,160 Totsl resources expended 153,570 164,143 Net income 26,518 51,025 This page does not form part of the statutory financial statements Page 14

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