2024-12-31-accounts

Kingdom Faith South West Annual Report and Financial Statements For the Year Ended 31 December 2024 Charlty Reglst•Md In England and Wales Number: 1107721

Kingdom Falth South West Contents For the Year Ended 31 December 2024 Contents Reference and Administrative Details Trustees, Annual Report Independent Examlner's Report statement of Financial Activitles 8alance Sheet 10 Notes to the Finanaal Statements Prepared By Abert Goodman LLP

Kingdom Faith South West Reference and Administrative Details For the Year Ended 31 December 2024 Trustees M A Baker J C Butler A K Kitchingman S E Mathers MB Watt Principal Office Crescent House

7 The Mount Taunton Somerset TA13NR Registered Office Crescent House &7 The Mount Taunton Somers&t TA13NR Independent Examin•r Michelle Ferns Bsc (Hons) FCA DChA Albert Goodman LLP Goodwood House Blackbrook Park Avenue Taunton Somerset TA12PX Prepared By Albert Goodman LLP

Kingdom Faith South West Trustees, Report For the Year Ended 31 December 2024 The Trustees present their annual report together with the report on Ihe accounts for Kingdom Faith South West (the charity) for the year ended 31 December 2024. The Charity is a trust formed under declaration of trust dated 23rd December 2004 and suppleffRnted by the Charilable Trust Deed dated 9th October 2017 and approved by the Charity Cornmission. Trustees are appointed by the existing Trustees provided they are approved by the StAritual Leadershlp of the church. and are appointed on the basis of their expertise and involvement in furthering the objects of the charity. The finanaal statements have been prepared in accordance with the accounting pollcies set out in note 1 to the financial statements and compty with the Charities Ad 2011, the Trust Deed, and Accounting and ReportirvJ by Charities: Statement of Recommended Practice applicable in the UK and Republic of Ireland (FRS 102) {effeclive 1 January 2019). Structuro, governance and management Kingdom Faith South West is governed by a Trust Deed dated 23ryJ December 2004 with a supplementary Trust Deed dated 19th October 2017 and operates as a charity registered in the UK. The trustees have considered the key operational, financial and strategic rlsks that have a beariro on the charity. Suitable management information Is available to the trustees on a regular basis to monitor these risks and allow any appropriate actlon be taken to address them. The Iruslees who served during the year are as ksted on page 2 of this report. The church vlsSon and directions are led by the leadershlp team. New Trustees are appointed by the leadership team, usually from among the church membership, and sign a document of willingness to act as a trustee. They are provided with an induction to explain the operations of the charity and Iheir assoclated responsibility as trustees. The Trustees meet approxlmately 3 tirr￿ a year lo review performance, operating plans, budgets and building matters. Operational decisions are taken by Ihe leadership team and staff. As with previous years we have continued to build relationship and support the work of other charities and churches: Kingdom Faith Horsham Kingdom Faith Yorkshire Kingdom Fallh London KFSW continues to have a glob81 perspective and works with some indivlduals and grouFxs across the world which align with the charity's vision and objectives, including: Asian Foundation (Mongolia) l Mongolian Children's Foundation Hamsayeh - supwrt of individuals y￿rkIng wth Christians from countries where Christianity Suffe￿ persecution Samaritans Purse- donations to disaster relief and humanitarian support throughout the world. CAP - Christians Against Poverty - support to reduce wverty in the UK. Prepared By Abert Goodman LLP

Kingdom Faith South West Trustees, Report For the Year Ended 31 December 2024 Objectives and Activities The objects of the chaTity laid down in the trust deed are, for the benefft of the publc: 3.2.1 To athiance the Christian farth (in accordance with the statement of beliefs) in such ways and in such parts of the United Kingdom or the world as the Ttustees from time to time may think 3.2.2 To relieve sickness and financial hardship and to promote and preseNe go¢xl health by the provision of funds, goods or services of any kind including Ihrough the provision of counselling and support in such parts of the United Kingdom or the world as the Trustees from time to time may think fit; and 3.2.3 To advance education in such ways and in such parts of the United Kingdom or the worfd as the Trustees from lime to time may think fit. These obj'ectlves have been revtewed to ensure they continue lo reflect our aims arKI they have remained unchanged since the lasl annual report of the trustees. The Trustees have due regard to the public benellt guidance issued by the Chafity Commission. The maln strategies adopled for ensurlng th6 aims and objectives of the ch8rity are outworked are: Conduding meetings Running a church centre Oigani5irvJ activities, groups and mlsslons Working with other Christian organisats'ons Achlevements and P•rfomiance The church has seen significant numerical growth in the church over the last 2 yeats, particularly within the children's ministries, which has been very encouraging. A reorganisation of the middle floor of Crescent House was carried out to facilitate this growth, including a dedicated room for parenis with under 1s. This reconfiguratlon has been successfvl and continued to facilitate the growlh. The church has also seen considerable growth in the youth minlstry (Elevate) thSs year. Some of our young people attended SPREE (a youth festival held In June for young people to build strong frlendships and explore the Christian failh togelher). This was a huge success, and acknowledgement and thanks are given to the amazing leam of KFSW Voluntee￿ who organised and attended. The following key events took place throughout the year: Prayer Academy {3 sessions duriro March - May) for the church on 'how to pray,. A small team went to Mongolia for the first time since before Covid specifically to support and encourage the team working for Mongolan Children's Foundation and conduct leadership training. A fun day was held for Superkids (4-9 years olds) which included crafts, games, competitions and a BBQ. It was a great relationship building day for the kids a￿1 team. In September the church launched several events sp8cifjcally for our local comrnunty. Healthy Soul- 3 evenings to help people overcome the anxieties and negative emolions in life Life Worth LiviNJ - we relaunched this &week course in October with more planned for the new year Prepared By Abert Goodman LLP

Kingdom Faith South West Trustees, Report For the Year Ended 31 December 2024 As in previous years KFSW conlinues to provide support to our local community through 2 outreach projects: Baby Bank hardship startright- a weekty parent and toddler group during ternFtime. In addition to the above community projects, the church became a reccrfJnised Money Coach Centre with Christians Against Poverty during 2024. Money Coaching is a free service that KFSW now offers lo the church and the community in partnership with CAP designed lo empower people with the knowledge. skills, tools and confidence to t*tter manage their finances. The first Money Coaching Day was held in October for church membern (fully booked) with dates planned for 2025 for both church and community. The Trustees continue to admire the flexibility and 8daptalylity of Ihe whole church while all the above has taken place, who have enabled church life to continue despite disruption to some areas of the building. which provides nappies and wipes to families who are experien¢lng financial Staff and Volunteers The Trustees greatly appreciate the way the Pastors and Support Staff have served the church and communlty In the past year. The Trustees honour the way that staff and volunteers serve the mlssion and objectives of the church on a continual basis. Three trustees are volunteers who give considerable input to enable KFSW Church to carry out its duties to what we consider to b8 a very high standard. Futurè Developments for 2025 The following developments are 8ntlclpated during the comlng year to ensure that Crescent House and Its facilities continue to selve the vision of the church. Replacement of the top floor lighting and emergency IwJhting. This includes removal of aged UV strip lighting and the installation of new energy efficient and considerate lighting. Repair and replacement of Ilat roof situated above the srte office and adjacent to the toilet block. This will rectify ongoing leak issues of the past y88r. Upgrade of the Iwo ground floor toilets. A refresh of the communal areas within the buikjing including signage, redecoration of some areas of the middle floor and ground floor offices. A routine lift servlce has highllghted some expenditure Is needed to upgrade and Improve aspects of the lift to keep up with Brftlsh Standards. This work Is being costed up and will be implemented throughout the year. Prepared By Albert Goodman LLP

Kingdom Faith South West Trustees, Report For the Year Ended 31 December 2024 Financial Review The statement of financial aLtivities is set out on page 9 of this report. A summary of the financial results is set out below: Income generation The principal source of income comprises tithes and offerings from m8mbers. IncludirvJ this, total unrestricted income for the year was £255,807 (2023: £296,963) and total restricled income was £8.763 (2023: £8,822). The deficit generated in the year was £23,147 P023: surplus of £19,913), with total r6seNes being £800,511 <2023: £823,658). Of these reserves carried forward, £4,520 was restricted, leaving £795,991 unreslricted <2023: £4,060 restricted and £819,598 unrestrided>, Inves1ment policy The charity has adopted a Iow-risk investment strategy with accounts whth Kingdom Bank. Investments are reviewed annualty. Fund raising The charlty relies on voluntary donations from its members for Tts income. The charty does not employ professional fund raising bodies. Restrlcted funds Oetsils of the restricted fijnds held during the year are set out in note 9, Reserves policy It is the policy of the charity to maintain unrestricted funds, which are the free reserves of the charity, at a level which equat8S to approximately three months unrestricted expenditure, This provldes sufficienl furKJs to cover management, adnNnistration and supports costs, 3 months unrestricted expenditure would equate to approximately £60k. The free reseNes of the charity at the end of the year were £201,869 {unrestricted funds less fixed assets, add back loans laken out to fund those assets). The charity intends to use some funds for overpaying the mortgage, complelion of the upgrade to the lollet facilities on the ground floor, upgrading the Streaming systems, as well as holding additional reserves for future building repairs. It's expected that adapts'on and fiexiLxlity will remain key In the church's approach for the next year with the increasing costs of living and as a resuEt we will keep all income and expenditure under review to ensure the continued well-being and appropriate financial health of KFSW. Prepared By Albert Goodman LLP

Kingdom Faith South West Trustees' Report For the Year Ended 31 December 2024

Statement of trustees responsibilities

The trustees are responsible for preparing the Trustees' Report and the financial statements in accordance with 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).

The law applicable to charities in England & Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the income and expenditure of the charity for that period. In preparing these financial statements, the trustees are required to:

• select suitable accounting policies and then apply them consistently;

• observe the methods and principles in the Charities SORP;

• make judgments and accounting estimates that are reasonable and prudent;

• state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements, and

• prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.

The trustees are responsible for maintaining proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed/constitution. 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.

The trustees are responsible for the maintenance and integrity of the charity and financial information included on the charity's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Signed by order of the trustees on 20 July 2025

A K Kitchingman Trustee

a Prepared By Albert Goodman LLP

Kingdom Faith South West Independent Examiner's Report For the Year Ended 31 December 2024

Independent examiner's report to the Trustees of Kingdom Faith South West

I report to the trustees on my examination of the accounts for Kingdom Faith South West (''the charity') for the year ended 31 December 2024.

Responsibilities and basis of report

As the charity trustees of the charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ("the 2011 Act").

I report in respect of my examination of the charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

Since the charity's 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 Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.

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

1. accounting records were not kept in respect of the charity as required by section 130 of the 2011 Act; or

2. the accounts do not comply with these records; or

3. the accounts do not comply with the applicable requirements concerning the form and content of the accounts set out in the Charities (Accounts and Reports) 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.

Michelle Ferris Michelle Ferris BSC (Hons) BSc (Hons) FCA DChA FCA DChA Albert Goodman LLP Albert Goodman LLP Goodwood House Goodwood House Blackbrook Park Avenue Blackbrook Park Avenue Taunton Taunton TA1 2PX Somerset Date: TA1 2PX 31 July 2025

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Prepared By Albert Goodman LLP

Klngdom Faith South West Statement of Financial Activities For the Year Ended 31 December 2024 Unrns- trfct•d Res• Total UnYes- 2024 trlcted Total 2023 Notes Income and endowfflents Donations Investment income 252,293 3,514 8,763 261,056 3,514 293,807 3,126 8,822 302,629 3,126 Total income 255,807 8,763 264,570 296,963 8,822 305,785 Exp•nditure Expenditure on charitsble activrties 279,313 8,404 287,717 257,906 27,966 285,872 Total expenditur• 279,313 8.404 287,717 257,906 27,966 285,872 Net in¢om•1(exp•ndi￿rO) (23,506) 359 (23,147) 39,057 (19,144) 19,913 Transfers b&tween fvn(h (101) 101 (20,839) 20,839 Net n￿Vern1nt In funds {23,807 460 (23,14n 18,218 1,696 19,913 Reeoneiliati¢)n ol funds Fund balances at 1 January 2024 819,598 4,060 823,658 801,380 2,365 803,745 Fund balances at 31 DKemb•r 2024 795,991 4.520 800,511 819,698 4,080 823,868 The results for the year derlve from continulng activiti88 and there are no gains or losses other than those shown atM)ve. Prepared By Albert Goodman LLP

Kingdom Faith South West Balance sheet As at 31 December 2024

			Total 2024		Total 2023
	Notes		£		£
Fixed assets
Tangible fixed assets	5		729,909		776,776
Current assets
Debtors	6	13,094		11,574
Cash at bank and in hand		200,096		197,855
		213,190		209,429
Creditors
Amounts falling due within one year	7	(25,989)		(32,221)
Net current assets			187,201		177,208
Long term liabilities	8		(116,599)		(130,326)
Net assets			800,511		823,658
The funds of the charity Restricted funds	9		4,520		4,060
Unrestricted funds	9		795,991		819,598
			800,511		823,658

Approved by the Board for issue on 20 July 2025 and signed on its behalf by:

[AK Kitchingman] ·

M Baker Trustee

Trustee

Prepared By Albert Goodman LLP

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Kingdom Faith South West Notes to the Financial Statements For the Year Ended 31 December 2024 Accounting pollcies 1.1 General infomiation and basis of accounting Kingdom Faith South West is a charity, registered in England Wales. The nature of the charity's operations and its principal activities ale set out in the Trustees report on pages >7. The fjnancial statements have been prepared in accordance with 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) (effedive 1 January 2019)- (Charities SORP (FRS 102)). The charity meets the dellnltion of public benefft entity under FRS 102. Assets and liabilities are initialSy recognised at historical cost or transaction value unless otherwise stated in the relevant accountlng policy. 1.2 Income Income from donations is recognised upon receipl. Incorne from Investments is accounted for when recelvable. 1.3 Expenditur• Expendilure is accounted for on the accruals basis. LlaL¥litles are recognised In the accountlng pefiod to which they relate. Support costs are those funclions which assist the work of the charity but do not dlrectly undertake charitable aLlivities. These costs have been allocaled to expenditure on charitable activities. 1 ,4 Fixed a$￿tS Fixed assets are v85ued at cost less depreciation. Depreaatlon Is calculated to wrlte off the cost or valuatlon of fixed assets over their estimated useful Iwes at the following rate: _ Freehold property 2% straight line Freehold improvements - 10% straight line Equipment 25Q/o slraight line 1.5 Debtors Trade arHJ other debtors are recognised at the Settlement amount due, and prepayments are valued at the amount prepaid. 1.6 Cash at bank and in hand Cash at bank and in hand comprise cash on hand and call deposits, and other short-term high liquid investments that are readily convertible to a known amount of cash and are subject to an insignifjcant risk of Cha￿Je in value. 1.7 Creditors Creditors and provisions are recognised where the charity has a present otjigation resutting 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. Prepared By Albert Goodman LLP

Kingdom Faith South West Notes to the Financial Statements For the Year Ended 31 December 2024 Accounting policies Iconlinued) 1.8 Taxation The company is a registered charity and is therefore not liable to corporation tax on its charitable activities to the extent that income and gains are applied to charitable purposes. 1.9 Fund accounting General funds are unrestricled funds receivable or generated for the objects of the company without further specified purpose and are available as general funds. Restricted funds are to be used for speclfic purposes as laid down by the donor. Expenditure which meets this criterion is charged to the fund. together with a fair allocation of management and support costs. 1.10 Flnancial Instruments The charity only holds basic financial instruments as defined by FRS102, The financial assets and liabilities of the charity and thelr measurement basis are as follows: Flnanclal assets- trade and other detrtors are basic11nancSal Inslruments and are debt instruments m8asured at amortised cost. Prepayments are not financial Instruments. Cash at bank and in hand- 15 classlfied as a baslc financial Instrument and is measured at face value. Financial liabilities- trade creditor8, accruals, and other creditors are financAal instfuments and are measured at amortised cosl. Taxatlon and social security are not included in the financial instrurnents disclosure definition. Donatlons Unr•s- R•$. tricted trlc Total 2024 Unr•s• R•s- tricted triatad Total 2023 Tithes & offerings Tithes & offerings tax recovered Restricted gifts Restricted gifts tax recovered Mortgage donalions M6cellaneous income 207,059 41,302 828 597 2,360 147 207,059 250,449 41.302 38.258 8,019 2.169 2,360 147 250,449 38,258 7,498 2,267 3,900 257 7,191 1,572 7,498 1,224 1,043 3,900 157 100 252,293 8,763 261.056 293,807 8,822 302,629 Prepared By Albert Goodman LLP 12

Kingdom Faith South West Notes to the Financial Statements For the Year Ended 31 December 2024 Expenditure on charitable activities Unres- Res- tricted tricted Total 2024 Unres- Res- tricted tricted Total 2023 Grnnts KFGifts Mission gifts Israel Benevolence Miscellaneous Resources Puichases Miscellaneous Spukers Gifts Cr•scent House Buildings insurance Electriuty and gas Water rates Cleaning Property repairs Mlnistry Wages and salaries Refreshments Children and Youlh Pastoral Sundays Special events Audio Music Farth projects Conferences Accomodation Subsistence Miscellaneous Mission Travel Supplies 2,550 2,550 12,152 1,000 11,579 1,621 4,120 2,062 15,149 275 1,247 5,367 2,062 19,015 275 12,152 1,000 3,070 1,439 3,866 8,509 182 97 259 97 259 114 14 114 14 1,450 1,450 54 2,186 7,361 454 3,190 3,922 2,186 7,361 454 3,190 4,681 2,090 6,812 364 3,442 2,090 6,812 3,442 7,123 759 7,123 102,290 1,461 467 102,290 1,461 815 98,813 1,340 1,093 98,813 1,340 1,093 348 227 802 126 11 52 227 995 126 11 52 428 922 806 2,348 145 428 922 806 2,348 145 193 568 281 187 261 110 292 261 110 292 281 187 204 266 1,991 2,195 266 Depreciation Support costs Govemance costs 46.867 82,951 2.028 46,867 82.951 2,028 43,875 83,103 2,985 43,875 83,103 2,985 279,313 8,404 287,717 257,906 27.966 285,872 Prepared By Albert Goodman LLP 13

Kingdom Faith South West Notes to the Financial Statements For the Year Ended 31 December 2024 Expenditure on charitable activities (continued) Support costs Salaries and pensions Telephone and internet Publicty and advertising Soflware Printing and ststionery Postage Travel Equipment repairs Fumiture and soft fumishings Other expenses Bank Gharges Mortgage interest and charges 63,322 2,366 726 955 578 19 106 505 1,285 138 297 12,654 63,322 2,366 726 955 578 19 59,515 2,699 163 1,334 388 13 22 1,900 1,687 2,356 324 12,702 59,515 2,699 163 1,334 388 13 22 1,900 1,687 2,356 324 12,702 505 1,285 138 297 12,654 82,951 82,951 83,103 83,103 Govèmance costs Professional fees Accountancy fee Independent examination fee 945 1,290 750 1,278 750 1,278 750 1,290 750 2,028 2,028 2,985 2,985 Wages and salaries Total 2024 Total 2023 Wages and salaries Social security costs Pension costs 135,350 130,482 8,155 7,550 22,107 20,296 165,612 158,328 The Church employs three full time and Iwo part time mernbe￿ of staff. Two trustees are employed by Ihe chatity for ￿￿nISte￿al and administration services, not for their roles as trustees. Remuneration for these individuals amounted to £103,447 (2023: £99,222) and those payments are permitted by the charity's governing document. The charity paid pension conttibutlons into a defined contribution pension scherne for the benefit of the staff. including the two Trustees employed by the charity. No individual earned over £60,000 (2023: nil). The key management per3onnel of the Church is considered to be the two pastors, for which total remuneration amounted to £108,582 (2023.. £104,131). Prepafed By Ajbert Goodman LLP 14

Kingdom Faith South West Notes to the Financial Statements For the Year Ended 31 December 2024 Tangible Assets Freehold FreelK•ld Property Impnlvements Eguipment Total Cost At 1 January 2024 Additions 603,452 307,704 121,136 1,032,292 At 31 December 2024 603,452 307,704 121,136 1,032,292 Depreciation At 1 January 2024 Charge for the year 48,276 12,069 96,168 30,770 111,072 4,028 255,516 46,867 At 310ecember 2024 60,345 126,938 115,100 302,383 Net IM)ok value At 31 Decemb8r 2024 543,107 180,766 6,036 729,909 At 1 January 2024 555,176 211,536 10,064 776,776 Debtors Total 2024 Total 2023 Gift aid tax recoverable Prepayments Other debtors 10,519 1,916 659 9,380 1,802 392 13,094 11,574 Prepared By Ajbert Goodman LLP 15

Klngdom Faith South West Notes to the Financial Statements For the Year Ended 31 December 2024 Creditors: amounts falling due within one year Total 2024 Total 2023 Other creditors Accruals Mortgage due < 1 year 4,365 2,436 19,188 10,547 2,486 19,188 25,989 32,221 Creditors: amounts falling due after one year Total 2024 Total 2023 Mortgage 116,599 130,326 116,599 130,326 Statement of funds Opening Incoming Outgolng Balanc• Resources Resources 01101124 Trnnsfers Closing Balanc• 31112124 Restricted funds Mission Mongolia Help CH Baby Bank SPREE SK Fun Day 1,245 1 ,968 993 750 2,933 730 144 (1,247) (1 ,991) (500) (759) (2,966) (748) (193) 23 3,274 3,767 786 753 18 49 Total restricted funds 4,060 8,763 (8,404) 101 4,520 Unrestricted funds General fund 202,400 252,504 (275,906) 28,907 207,905 Designated funds Property 617.198 3,303 (3,407) (29,008) 588,086 Total lund$ 823,658 264,570 {287,717) 800,511 Prepared By Albert Goodman LLP 16

Kingdom Faith South West Notes to the Financial Statements For the Year Ended 31 December 2024 Statement of funds- 2023 Openin9 Incoming Outgolng Balance Resournis Resources 01101123 Translers Closing Balance 31112123 Restrfcted funds Mission Mongolia Help CH Baby Bank Toilet Upcycle Youth Camp 1,110 530 3,347 600 2,857 263 115 (6,152) (10,000) (2,438) (5,263) (2,071) (1,860) {182) 5.042 9,470 2,365 3,274 4,663 1,597 67 Total restrlcted funds 2,365 8,822 (27,966) 20,839 4,060 Unrnstrlcted funds General fund 196,578 292.222 (218,450) (67.950) 202,400 Deslgnated funds Property 604,802 4,741 {39,456) 47,111 617,198 Total funds 803,745 305,785 (285,872) 823,658 The property restrlcted fund was holding the church which was purchased some years ago. Thera is no requirement for thls to be held in a restricted fund and therefore in 2019 the trustees elected to transfer this out in accordance Vlith paragraph 2.12 of the 2019 SORP. The book valuo of the church, less the mortgage secured on it, is now held within a designated fund. The Mission re5trlcted fund is income received for mission work which has been fulty spent and the overspend transferred in from unrestricted funds. The Mongolia restricted fund is money received from offerings specified for this purpose. It has been fijlly spent on outreach projects In Mongolia and the overspend Iransferred in from unrestricted funds. The Church fund is money received for the upkeep of the church. Where amounts were fully spent on caiital items which have been casitalised in the balance sheet, the purchase of these has been taken to discharge the restriction, with the amount being transferred out to general funds. The Help fund is money recelved from church members durlng the pandemic and since for the purpose of helping people (primarily within the church) who face financial hardship. Money will not necessarity be used within the financial yeai given but as genuine need arises. The CH fund comprises gifts that have been given for the upkeep or develosxnent of Crescenl House and are spent as such. Prepared By Albert Goodman LLP 17

Kingdom Faith South West Notes to the Financial Statements For the Year Ended 31 December 2024 The Baby Bank fund relates to money received and spent to provide baby supplies to families in need. The Food Bank fund is donations received and expenditure relating to providing food and supplies to families requiring support. The designated fund is the book value of the church. less the mortgage secured on it. 10 Analysis of net assets betwéen funds Unres- Res. trictsd trict•d Total 2024 Unres- Res- trict•d trfcted Total 2023 Tangible assets Net current assets Long term liabilities 729,909 182,681 (116,599) 729,909 776,776 187,201 173,148 (116,599) (130,326) 776,776 177,208 (130,326) 4,520 4,060 795,991 4,520 800,511 819,598 4,060 823,658 11 Relatad party transactions Two Trustees are employed by the charity for roles unconnected wlth thelr posltion as Trustees as dlsclosed in note 4. Trustees and related parties provided donations to the charity amounting to £30,380 without condition (2023: £49,012). There are no outstsrKling balances with any related party as at the year end (2023: £nil). Prepared By Albert Goodman LLP 18