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2023-11-30-accounts

LONDON CHURCH INTERNATIONAL

ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 November 2023

CHARITY REGISTRATION No: 1095489 COMPANY REGISTRATION No: 04448178

Independent Examiners Ltd Unit 2 The Broadbridge Business Centre Delling Lane Bosham PO18 8NF

1

LONDON CHURCH INTERNATIONAL

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CONTENTS
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Pages 4 - 5 Report of the Trustees
Page 6 Independent Examiners Report to the Trustees.
Page 7 Statement of Financial Activities
Pages 8 Balance Sheet
Page 9 - 15 Notes to the Financial Statements
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2

LONDON CHURCH INTERNATIONAL

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 NOVEMBER 2023

LEGAL AND ADMINISTRATIVE INFORMATION

CHARITY NUMBER 1095489 COMPANY REGISTRATION NUMBER 4448178 START OF FINANCIAL PERIOD 1 December 2021 30 November 2023

END OF FINANCIAL PERIOD

OTHER NAME KINGSGATE CHURCH

TRUSTEES AT 30 November 2023

Emma Foster Chet Henderson (Resigned 1 July 23) Martin Reeve Resigned (20 October 23) Paul Harper Fiona Farrelly Sean Dooley (appointed 23 October 23)

CORRESPONDENCE ADDRESS

GOVERNING DOCUMENT

Empire Building 161a Clarence Street Kingston Upon Thames Surrey KT1 1QT

MEMORANDUM AND ARTICLES OF ASSOCIATION INCORPORATED ON THE 27 MAY 2002.

INDEPENDENT EXAMINER

OBJECTS

K Gomes Independent Examiners Ltd Unit 2 The Broadfield Business Centre Delling Lane Bosham PO18 8NF

a) to advance the Christian faith in accordance with the Statement of beliefs appearing in the Schedule hereto in Greater London and in such other parts of the United Kingdom or the world as the directors of the Charity (herein called "the Trustees") may from time to time think fit and to fulfil such other purposes which are exclusively charitable according to the law of England and Wales and are connected with the charitable work of the charity b) to relieve persons who are in conditions of need or hardship or who are aged or sick and to relieve the distress caused thereby in the said location and in such other parts of the United Kingdom or the world as the Trustees may from time to time think fit.

3

LONDON CHURCH INTERNATIONAL

REPORT OF THE TRUSTEES

FOR THE YEAR ENDED 30 NOVEMBER 2023

Structure, Governance and Appointment of Trustees:

The charity is a company limited by guarantee and does not have share capital. The charitable company was incorporated on 27 May 2002 and was registered with the Charity Commission on 20 January 2003,but remained dormant until the operations, funds, assets and liabilities of the former non-profit making organisation with the same name were transferred across on 1 April 2004.

Organisational Structure

The Charity is controlled by the Trustees. Trustees during the year are detailed on page 1. The Trustees and Treasurer are non-paid volunteers. None of the Trustees has any beneficial interest in the company.

Objectives and Activities

a) to advance the Christian faith in accordance with the Statement of beliefs appearing in the Schedule hereto in Greater London and in such other parts of the United Kingdom or the world as the directors of the Charity (herein called "the Trustees") may from time to time think fit and to fulfil such other purposes which are exclusively charitable according to the law of England and Wales and are connected with the charitable work of the charity;

b) to relieve persons who are in conditions of need or hardship or who are aged or sick and to relieve the distress caused thereby in the said location and in such other parts of the United Kingdom or the world as the Trustees may from time to time think fit.

The Trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the Charity should undertake.

Achievements and performance

In common with most organisations in the voluntary sector, 22/23 was a combination of extremely challenging and extremely rewarding. As reported at the end of the previous year, the church continues to grow slowly but steadily, and the church that is emerging in the post-covid landscape is much more diverse and has much more interaction and impact on our local community. This emphasis is in line with our vision.

The high points:

The low points:

The trustees wish to put on record and recognise the hard & faithful work of our staff especially Sean Dooley, facilities manager, who has put a lot of process in place to maintain the standards and health & safety of our building, Jacqueline Aslet, our executive administrator, in moving our bookkeeping to a new offshore supplier, providing a better service at a much reduced rate & Karen Reekie, our safeguarding officer, who has managed a number of complex and serious disclosures that have been made and escalated due to our work with victims of abuse.

Also Chet Henderson & Martin Reeve, who had been elders and trustees for a long time. Having led in the church and as trustees, while working in market place jobs, both felt they had contributed all they could and we have released them from the obligations with our heartfelt thanks.

Having taken over leadership of KingsGate Cobham towards the end of 2022, Sean & Nola Dooley have now had a full year in charge. They are changing the Cobham community to be gathered around dinner tables and focused on discipleship. This process takes time but they believe it is the correct direction for long term growth.

4

LONDON CHUkeH INTERNATE014AL REPORT OF THÉTAVSTEES FQR THE YEAR 30 NOVEMBER 1013 As we loo1¢ to ZQ24, the tiUee$ are e￿Ore of the challenges arv pbn5 place trj addrtS5 them. Our ynoriyage are uosuknin6Me for Ihe cur7pDk SI￿ of the ¢hur£h. We are 'iookinP to remDrtgage exretsdiMQ the repaymeNt Per￿d, lo rftduce ourrnoftihEy yayments. Dur staff dErve pgy Tises, at to keep wllh inflabQn. Ag¥in. remwtg4ging wlll cre6te 5gme freedom to do this. We continue tty trust In GDd's'provI$Dn an¢ to look to him Olone for .what need to conbnue to gJth¢r.Hi$ oeovlè and i￿7pArt our cfjmfftunlfy Iv thE way we believe he wan15 US tD. Fin?nclal Review tmjrlng the fin8ncial year the ch8r￿Y had n an￿mIng res¢ur¢e$ of £.24.382 12Q22 - Q4,3751 as shown In the Statement 41 Fin?nciJl Activitlv on paoe x of the acc¢iJnts. One of th¢ main rw0Tr5 for thiswas the drop in t￿he5 and Dfferings to E388,441 12022 E430,3601. Howcver, QUF ca4Y flow improved where ourcash aid cosh e4￿1valent Increas2d by £6,726 on the prevlous yRar. ltr is the wllcy af the ch3tity Ihat ￿hre5t[ICted hjrtds thould be kept al a level no less Lhaft £60,OQO.'Our ro$￿eS haLI érDPPtd bèlow 2D2R and thè tru51ees asked that EJSOO a Inonth was put Into ￿seNe# aL the start ol the year tu re5EOP them ro the Polky, ￿OweVer, thÈ pioved to be Impos￿bie aiid only tVVty $1gnincaht Illjivloual gills durfilg the year enabled us to Iinisn the year with reseNés belngaporok. the same as at the start of the perlod IE5QOQOI. The"trv5tee5 COn￿der ￿ prudent tg continue tfj work to incwse re$erve$ bad< to the poli¢v level lo en£ure that. In the ventof a siorrificant drop lft ftsndlntr, they vjiu be able to co¥er any financhil com[Rit￿Ents tor ot least 2 mopth5. TheTru5tees havE asse￿ert the rnalor r15ks to which the charity Ig e%pogÈd, ond are satistEed that s¥streiDs a￿ In plate to mitigate exposurp to thE majur risks. A meetlng Is held quarterly wh8re all issues are discussed IDCILfaing any changes to the risk proiilo of tho chèrtt¥. At those meetings rhe Ioiiowiffj are èmon9 the Issues th3r ar8 monitor￿.. -Financ. This Includes an asses5ment.ol cash nows lii#ori¢al and prèdittyfj. -AdoquaLy of Ir￿Uranc@. A wview of insw?n¢e isdtrne on aD bnDual ba515. .EmploymÈntlHèlth and safety. -CoM￿￿￿¢￿￿th i&gèl r@quir@monts. TftsSts&É' RtsgPtsn£lblK1110$ The Truste¥, who atp also the ttire¢turs of IA>ntton ChuFch Internat￿Tha1 for the purpDse of company law, are reS￿n￿blE for pregarfng Lhe Tru51ees' REPOrt ants firpandal statements in ?rK.ordancè with. appithblo law and iJnlLpd Kingdom Accounting Standards IUDited KingdonGenerally Acwied AtrouDling Prdclirel. ¢mwThy L8v4 ￿QuIreS the Trustee5 to prepare nnan(ial slqlements fw eath financial ye6r y4hich give a true and lair viow of the 5tatE vf 4ffair5 the Charlly and Df IhE Incomlng resources and •ppliCOtlon of resource5, IncludlDg thE Income alld eXpe￿￿ture, af. the charflab1e coinpany for thal year. In weporin9 these fjnantial Statements, the Trtssiaes are rbquired ro.. SUltsb1e accountlng wllcig> and then apply Ihem eonslstenilyi - Observo the niefHots ano prin¢i>ie5 In the char￿eS SORP- make J￿dgementS and esbrn3tes that are reasonèble and prudont,. an prepare th& ffnandal statemits on th¥ (￿ice￿ ba51s tsnless il i5 Inappropriate to p￿sUMe that the Cffiarity will conbnue In operabon. The TnJ>kèes arp responsible ior keeping adequate a[￿U￿tIng racard5 that dlgdoÈ& with peasonable arcuracv at any Lhe finaNEial position of. Ihe Charily and énable rhem w ty)SUtÈ thèt thè finorKLa1 srawmenr$ comply vllh the cothparti&¢ Aci 2U06. They 3r& algo rosponsibl¢ for SafÈg.LtJr4itbg the a55ets of the Charity and he￿￿ for ta￿￿9 reason8blÈ 5tep5 for thp prevent￿￿ anddetÈthon of frauo and othEr Irre9ulariOes Thls ￿pOr1.Y4as approved by the truslee5 Qri.. IL /bi JI02A and signed on Its bEhalr.. Date '.

INDEPENDENT EXAMINER’S REPORT ON THE ACCOUNTS

I report to the charity Trustees on my examination of the accounts of the charity for the year ended 30 November 2023 which are set out on pages 7 to 15.

Respective responsibilities of Trustees and examiner

As the charity’s Trustees of London Church International (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).

Having satisfied myself that the accounts of London Church International are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner’s statement

Since London Church International gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Chartered Institute of Management Accountants, which is one of the listed bodies.

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

  1. accounting records were not kept in respect of London Church International as required by section 386 of the 2006 Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act 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; or

  4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities.

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.

Date : 1.7.24

Signed :

K Gomes FCIE MAAT Independent Examiners Ltd Unit 2 The Broadfield Business Centre Delling Lane Bosham PO18 8NF

6

LONDON CHURCH INTERNATIONAL STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 NOVEMBER 2023

Incorporating income and expenditure account
Notes
INCOMING RESOURCES
Donations and Legacies
2a
Charitable Activities
2b
Other
2c
TOTAL
RESOURCES EXPENDED
Expenditure on:
Charitable Activities
3a
Support Costs
3b
Other
3c
TOTAL
NET INCOME/(EXPENDITURE) BEFORE
INVESTMENT GAINS/(LOSSES)
NET INCOME/(EXPENDITURE)
Transfers between funds
13
Other recognised gains/(losses):
Gains on Asset Disposal
NET MOVEMENT IN FUNDS
RECONCILIATION OF FUNDS:
Total Funds Brought Forward
Restated
TOTAL FUNDS CARRIED FORWARD
Income and Endowments from:		 Unrestricted
Designated
Restricted
TOTAL
TOTAL
Funds
Funds
Funds
2023
2022
£
£
£
£
£
388,441
-
-
388,441
430,360
73,508
-
-
73,508
44,348
1,127
-
-
1,127
141
463,076
-
-
463,076
474,849
50,113
-
-
50,113
60,342
318,053
70,528
-
388,581
390,132
-
-
-
-
-
368,166
70,528
-
438,694
450,474
94,910
70,528
-
-
24,382
24,375
94,910
70,528
-
-
24,382
24,375
107,513
-
107,513
-
-
-
-
-
-
620
-12,603
36,985
-
24,382
24,995
53,561
1,066,859
-
1,120,420
1,095,424
40,959
1,103,844
-
1,144,803
1,120,420

All of the organisation's operations are classed as continuing.

The notes on pages 8 to 15 form part of these financial statements.

7

LONDON CHURCH INfRRNATIONAL BALANCE SHE Reglstraiion Number 044481Y8 AS Af 30 NovembEr 2023 Restated unr@stiict¢d FuTrdS Rèslrlrted .3D&NOv.23 30-NOV.22 FUnJS Total Total Funds. FIX￿ Assets -1,707,OB8 1,707,468 1,7BO,978 ev￿ent Assels Debtors 5.206 .5.206 17.341 83.757 101 098 Ca¥h at bank in hatNJ 26.OEI Total Gu¥rènt credito￿.. arnounts falllng due oNe year 28,71 60,7 115,486 98,549 NEY CURRÉNr AssErs 4Q.959 -L9,797 2,548 TOTALASSETS less current Sbili1￿$ 40,959 1.646,332 1.687,290 1,733.Y2? Creditors.. amounts falliTrg due In rnore than yea¥ 542088 542088 613,107 ASSErs 4D,9¥9 L,103,B44 1,144,803 1.120,420 Fun¢lS General Funds Resrficled Funds DesIonat8d Total Funds 4D,959 40,559 53,561 I,ID3.844 1.103.U4 1,103.844 1.066,859 144.$03 1.120,420 4D.959 Thècomp3ny's fin3noal stètoingnts ttavé prepared ifiac¢ordan¢e wtth the pr4visions JPkbli¢¥blÈ to companies subieLt to the small ¢ompanies règlTne. The cpnsiJer thèt the tamgany Is ent￿ed to eKernptiDn from the r￿qL￿re￿￿e￿t to have an audit bnder tlie provisio￿ ofseLtion 4r/ of th2 tomp8nie5 AEt.2Q06 1.the Acl'l and rnembers haye not required the company tofjbtain an audil for the'ytar in otsestign in ¥coDrdaDcE w￿h section 476 of th¢ Art. Th& TruStEes acknowl&dp thèir tègp0n￿b)l￿Qs for ttsm￿YI￿ with th¢ reouiremÈnts Of the companiès Acr 2Q06 with rÈspÈct to accOUrt￿ iecord5 1Thd p.r4>afaUvn Olfinanoal stataTnents. The finandal st&temEnts were 2pproved and aulhortsed-lor Issue by thÈ 7rlnt Name

LONDON CHURCH INTERNATIONAL

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2023

1. ACCOUNTING POLICIES

Charity information

London Church International is a private company limited by guarantee incorporated in England and Wales. The registered office is Empire Building, 161a Clarence Street, Kingston Upon Thames, Surrey,KT1 1QT.

Basis of preparation:

The financial statements of the charitable company, which is a public benefit entity under FRS 102,have been prepared in accordance with the Charities SORP (FRS 102) '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 (FRS 102) (effective 1 January 2019) Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

Changes to accounting estimates

No changes to accounting estimates have occurred in the reporting period

Material prior period errors

No material prior year error have been identified in the reporting period.

Going concern

At the time of approving the financial statements, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

The particular accounting policies adopted are set out below.

INCOME

Charitable funds

Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives unless the funds have been designated for other purposes.

Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

Endowment funds are subject to specific conditions by donors that the capital must be maintained by the Charity.

Income & Resources

Legacy income is recognised when the charity becomes unconditionally entitled to the income and the total amount to be received is certain.

Grants, where entitlement is conditional on the delivery of a specific performance by the charity, are recognised when the performance has been delivered, otherwise grants are recognised at the point the charity becomes unconditionally entitled to the grant.

Tithes are donations and offerings granted to the charity, these donations are recognised as and when they are received. Other Donations and forms of voluntary income are recognised as incoming resources when receivable, except in circumstances where they are incapable of financial measurement.

Gift aid is claimed on a number of occasions throughout the year, this is recognised in the accounts based on when the donation the gift aid is being claimed on is received.

Income from charitable activities is income received for the Alms and Apostolic funds, given specifically for helping the poor and needy and is recognised as and when it is received.

Other income is income received for events and conferences and is recognised as incoming resources when receivable. Investment income is interest on funds held on deposit and is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the Bank.

9

LONDON CHURCH INTERNATIONAL

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2023

Expenditure and liabilities

Expenditure is recognised on an accruals basis when incurred. It is reported in the Statement of Financial Activities as follows:

Direct Charitable Expenditure - these are costs incurred by the charity in the delivery of its activities and services for its beneficiaries.

Support costs include other running costs and governance costs. These are incurred by the charity and are necessary to aid and support the running of the charity and are included within expenditure on charitable activities. All costs are allocated to charitable activities of the SOFA on a basis designed to reflect the use of the resource. Support Costs relating to a particular fund are allocated directly, others are apportioned on an appropriate basis when applicable. The charity has identified one direct charitable activity.

Fixed Assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold land and buildings Over the term of the lease Leasehold improvements 2% straight line Air conditioning unit Over 10 years Fixtures and fittings 25% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in net income/(expenditure) for the year.

Impairment of fixed assets

At each reporting end date, the Charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

Intangible assets with indefinite useful lives and intangible assets not yet available for use are tested for impairment annually, and whenever there is an indication that the asset may be impaired.

Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities

Financial instruments

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

10

LONDON CHURCH INTERNATIONAL

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2023

2. ANALYSIS OF INCOME
a) Donations and Legacies
Gift Aid
Tithes and Offerings
b) Charitable Activities
Venue Hire Income
Room Hire Income
Events Income
Consultation Income
c) Other
Interest
3. ANALYSIS OF EXPENDITURE
a) Charitable Activities
Direct Costs
Accomodation,travel & Subsistence
Events
Giving
Ministry Costs
Training & Courses
Venue Hire
Emergency Support
Donations and grants		 Unrestricted
Designated
Restricted
TOTAL
TOTAL
Funds
Funds
Funds
2023
2022
£
£
£
£
£
13,697
-
-
13,697
578
57,482
-
-
57,482
68,221
317,262
-
-
317,262
361,561
-
-
-
-
-
388,441
-
-
388,441
430,360
46,258
-
-
46,258
30,708
-
-
-
-
1,050
3,677
-
-
3,677
4,770
23,573
-
-
23,573
7,820
73,508
-
-
73,508
44,348
1,127
-
-
1,127
141
1,127
-
-
1,127
141
Unrestricted
Designated
Restricted
TOTAL
TOTAL
Funds
Funds
Funds
2023
2022
£
£
£
£
£
6,505
-
-
6,505
11,002
3,877
-
-
3,877
18,482
26,294
-
-
26,294
23,855
8,053
-
-
8,053
2,416
5,383
-
-
5,383
560
5,192
-
-
5,192
4,028
50,113
-
-
50,113
60,342

11

LONDON CHURCH INTERNATIONAL

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2023

b) Support Costs
Advertising & Marketing
Audit & Accountancy fees
Bank Fees
Building Development Expenses
Cleaning
Depreciation Expense
6
General Expenses
HR Costs
Insurance
Loan Interest
13
IT Software and Consumables
Light, Power, Heating
Memberships
Office Admin
Postage, Freight & Courier
Printing & Stationery
Professional Fees
Rent
Repairs & Maintenance
Safeguarding
Salaries
4
Pensions Costs
4
Employers National Insurance
4
Staff training
Subscriptions
Telephone & Internet
Travel - Apostolic
Water Charges		 Unrestricted
Designated
Restricted
TOTAL
TOTAL
Funds
Funds
Funds
2023
2022
£
£
£
£
£
146
-
-
146
3,244
15,820
-
-
15,820
17,507
2,403
-
-
2,403
2,792
-
-
-
-
7,543
5,386
-
-
5,386
12,747
120
23,771
-
23,891
24,160
2,048
-
-
2,048
3,003
2,340
-
-
2,340
2,054
4,884
-
-
4,884
3,292
-
46,757
-
46,757
32,320
1,688
-
-
1,688
2,695
11,216
-
-
11,216
10,709
300
-
-
300
300
685
-
-
685
521
100
-
-
100
25
172
-
-
172
429
-
-
-
-
960
3,212
-
-
3,212
4,339
12,969
-
-
12,969
7,430
3,974
-
-
3,974
2,967
210,158
-
-
210,158
216,524
11,307
-
-
11,307
10,212
17,797
-
-
17,797
16,186
830
-
-
830
198
-
3,677
-
-
3,677
115
5,307
-
-
5,307
5,843
1,359
-
-
1,359
-
157
-
-
157
2,412
318,053
70,528
-
388,581
390,132

4. STAFF COSTS AND NUMBERS

Gross Wages and Salaries
Employer's National Insurance Costs
Pension Contributions
Employees who were engaged in each of the following activities:		 2023
2022
£
£
210,158
216,524
17,797
16,186
11,307
10,212
239,263
242,922
2023
2022
8
11

No employee received remuneration of more that £60,000 during the year.

12

LONDON CHURCH INTERNATIONAL

NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 30 NOVEMBER 2023

5. TRUSTEES' RENUMERATION AND EXPENSES

During the year the following director were paid a salary for pastoral services, the total benefits paid were: Paul Harper £53,302*

*P. E. Harper opts into a payroll giving scheme, whereby he donates 10% of his salary to the Charity.

In order to fully comply with Biblical principles, it is necessary for the Eldership team to be represented on the board of directors. This has been achieved without infringing the requirement for only two full-time members of staff being directors. However, as the team consists of both husband and wife, the wives of full time elders are paid a salary for the work that they do.

All people who are paid by the charity perform a valuable service to the charity and have a job specification which is available if required. No person receives payment because of his or her position as a Trustee or as a dependent or relative of a Trustee. This has been approved by the Charity Commission.

Trustee Expenses

During the year no Trustees were reimbursed expenses (2022 - Nil).

6. TANGIBLE FIXED ASSETS
Cost
01-Dec-22
Additions
Cost at
30-Nov-23
Depreciation
01-Dec-22
Charge
Depreciation at
30-Nov-23
Net Book Value
30-Nov-23
Net Book Value
Restated
30-Nov-22		 Leasehold
Leasehold
Fixtures
Total
Land and
Improvements & Fittings
Buildings
£
£
£
£
1,008,750
1,020,214
5,649
2,034,613
-
-
-
-
1,008,750
1,020,214
5,649
2,034,613
11000
287106
5529
303635
1,000
22,771
120
23,891
12,000
309,877
5,649
327,525
996,750
710,337
0
1,707,088
997,750
733,108
120
1,730,978

The Net book value brought forward figure for 2022 was restated, due to fixture & fittings depreciation charge mispost.Restated figure now accurately shows £120 fund movement from designated to unrestricted.

7.LOANS
Bank Loans
Payable within one year
Payable after one year
Amounts included above which fall due after five years
Payable by Instalments		 Restated
Total
Total
2023
2022
£
£
603,244
663,999
60,756
50,892
542,488
613,107
299,464
409,539

The bank loan is charged at an interest rate of the base rate plus 3.05% and is secures on the property 153-162,Clarence Street, Kingston Upon Thames, Surrey.

13

LONDON CHURCH INTERNATIONAL NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 30 NOVEMBER 2023

NOTES TO THE FINANCIAL STATEMENTS (continued)

8. DEBTORS AND PREPAYMENTS
Tax Recoverable
Prepayments
Debtors
9. CASH AT BANK AND IN HAND
CAF Grant
CAF Main Account
Caf Current - Ringfenced
Caf Saving Acc
Total		 Unrestricted
Restricted
Total
Total
Fund
Fund
2023
2022
£
£
£
£
3,828
-
3,828
3,656
736
-
736
1,605
642
-
642
12,080
5,206
-
5,206
17,341
Unrestricted
Restricted
Total
Total
Fund
Fund
2023
2022
£
£
£
£
-
26,011
26,011
33,542
5,684
-
5,684
3,626
8,420
-
8,420
1,589
50,367
-
50,367
45,000
64,472
26,011
90,483
83,757

10. CREDITORS AND ACCRUALS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Notes
Bank Loan
7
Trade Creditors
Other Creditors
Ni/Paye
Accruals and Deferred Income
Independent Examination
Notes
Bank Loans
7
12. RESTRICTED FUNDS
Current Year
Women's Hub Childcare Award
Benefact Grant
Safer Kingston Partnership Faith Grant
Resilience IYAL Grant
Prior Year - Restated
Women's Hub Childcare Award
11.
CREDITORS
AND
ACCRUALS:
AMOUN
DUE IN MORE THAN ONE YEAR		 Restated
Unrestricted
Designated
Restricted
Total
Total
Fund
Fund
Fund
2023
2022
£
£
£
£
£
-
60,756
-
60,756
50,892
1,321
-
-
1,321
3,455
10,340
-
26,011
36,350
42,822
8,448
-
-
8,448
-
7,051
-
-
7,051
-
1,560
1,560
1,380
28,719
60,756
26,011
115,486
98,549
Restated
Unrestricted
Designated
Restricted
Total
Total
Fund
Fund
Fund
2023
2022
£
£
£
£
£
-
542,488
-
542,488
613,107
TS
FALLING
-
542,488
-
542,488
613,107
Balance
Balance
01-Dec-22
Income
Expenditure
Transfers
30-Nov-23
£
£
£
£
19,667
-
12,735
49
6,982
-
3,300
1,724
1,576
-
5,900
3,933
1,967
-
19,998
4,512
15,486
19,667
29,198
22,904
49
26,011
Balance
Balance
01-Dec-21
Income
Expenditure
Transfers
30-Nov-22
£
£
£
£
-
28,807
9,139
19,667
-
28,807
9,139
-
19,667

Restricted funds for 2022 were restated to correct the separation of designated funds not previously shown.

14

LONDON CHURCH INTERNATIONAL NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 30 NOVEMBER 2023

13. DESIGNATED FUNDS

The income funds of the charity include the following designated funds which have been set aside out of the unrestricted funds by the Trustees for specific purposes :

a)
Land and Buildings
fund		 Balance
Resources
Transfers
Balance
Resources
Transfers
Balance
1.12.21
expended
30.11.22
expended
30.11.23
Restated
1,039,649
56,086
-
83,296
1,066,859
70,528
-
107,513
1,103,844

The land and buildings fund represents the net book value of the property and its improvements less the loans in relation to the property.

Restated Note :

The Land & building fund figures for 2022 were restated to show the interest and total payments made, restated figures are shown in note 10,11 & 13.

b) Current Year

Project Funds :
Building Fund
Sisterhood sanctuary fund
Sozo
Toddler Group -Izettle
Women's Hub National Lottery Grant
Women's Hub Kingsgate Expenditure
Kickstart
RBK - The Bridge Project
SHCJ Society Fund
Scott Wedding Fund
KingsGate Pantry
Student Pantry Payments
Youth Events
Prior Year - Restated
Apostolic
Alms
Outreach
Adopted courses
Christmas box appeal
Building fund
Sisterhood sanctuary fund
Dwell
Sozo
Jean & vanessa Zimbabwe trip
MTE Food Hub
Brite Boxes
Interest
Toddler Group -Izettle
Women's Hub National Lottery Grant
Women's Hub Kingsgate Expenditure
Kickstart
RBK - The Bridge Project
SHCJ Society Fund		 Balance
Balance
01-Dec-22
Income
Expenditure
Transfers
30-Nov-23
£
£
£
£
-
8,088
-
-
8,088
300
-
-
747
49
-
1,047
-
70
380
360
-
90
258
905
1,154
99
107
360
-
379
-
19
-
238
-
-
345
-
583
-
473
-
72
-
401
1,230
-
1,230
-
-
8,000
-
8,000
-
-
-
780
780
-
-
-
560
335
-
225
-
255
4
-
251
-
4,945
4,039
-
906
9,853
15,913
17,445
50
8,420
Balance
Balance
01-Dec-21
Income
Expenditure
Transfers
30-Nov-22
£
£
£
£
18
-
18
-
299
-
299
-
6,218
-
6,218
-
101
-
101
-
1,846
-
1,846
-
2,972
-
14,471
11,499
-
98
-
398
300
-
523
-
523
-
70
330
330
70
1,334
-
1,334
-
-
1,517
-
1,517
-
1,782
-
1,782
-
89
-
89
-
420
498
660
258
-
9,327
8,967
360
-
-
238
238
-
-
6,515
6,042
473
-
3,750
2,520
1,230
-
10,000
2,000
8,000
8,675
46,225
45,047
-
9,853

Designated funds for each project for 2022 were restated to correct the separation of Restricted funds not previously shown

15