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2021-03-31-accounts

ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

The King's Gate Church (Bognor Regis) Ltd

(A company limited by guarantee) Charity registration number: 1108556 Company registration number: 05135809

Independent Examiners Ltd 2 Broadbridge Business Centre Delling Lane Bosham Chichester West Sussex PO18 8NF

THE KING'S GATE CHURCH (BOGNOR REGIS) LTD

CONTENTS

Legal and Administrative Information 1
Trustees' Report 2 to 4
Independent Examiner's Report 5
Statement of Financial Activities 6
Balance Sheet 7
Notes to the Financial Statements 8 to 17

THE KING'S GATE CHURCH (BOGNOR REGIS) LTD LEGAL AND ADMINISTRATIVE INFORMATION

Charity Registration 1108556 Number Company Registration 05135809 Number Trustees John France Martin French Elizabeth Hickmore Margaret Page Benjamin Leney Hannelie Smit John Goble Dominic Leney Secretary Margaret Page Registered address 30 Crescent Road Bognor Regis West Sussex PO21 1QG Bankers Lloyds Bank plc 33-37 High Street Bognor Regis PO21 1RS Independent Examiner Independent Examiners Ltd 2 Broadbridge Business Centre Delling Lane Bosham Chichester West Sussex PO18 8NF

Page 1

THE KING'S GATE CHURCH (BOGNOR REGIS) LTD

TRUSTEES' REPORT

The trustees, who are directors for the purposes of company law, present the annual report together with the financial statements of the charitable company for the year ended 31 March 2021.

Objectives and activities

Objects and aims

The principal object of the charity is to advance the Christian faith through worship, fellowship and the distribution of Bible teaching in all forms of media and the advancement of the Christian faith generally.

Public benefit

The trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.

Objectives, strategies and activities

The main activities worked out by King's Gate Church are:

Achievements and performance

Review of activities

The church has continued to grow slowly and to minister in terms of teaching, preaching and pastoral care. Ministry includes reaching out to the elderly and those in need with both spiritual and practical support.

Our building known as The Beehive was not used during this period for normal church meetings but Family Support continued to use it and indeed intensified their use of it for food distribution and storage within Covid regulations.

Giving to missions continued particularly for work in Malawi and Kenya.

Our support of Wateraid and Pottersheart (Kenya: charity number 1164501) continued monthly.

We also support a Fellowship in Israel run by Tony Sperandeo: Kehilat HaMayaan.

Our support to Romania and those who visit regularly continues.

Extra gifts were given to: CAP (Christians against poverty and to support the situation in Afghanistan: also gifts were given to the Philo Trust (J John's ministry) and Indian Villages charity via Gerard Long.

We also supported give.net to supply dried food overseas and to our local Food Bank.

We received Government grants for the Beehive following the Covid lockdowns.This grant was spent, partly on an emergency gift for mission workers and partly saved for planned improvement or conversion of The Beehive.

A gift was given to John France (trustee) in this financial year for his continued work on a Bible Study series on Revelation and for Beryl France for wages management.

Page 2

THE KING'S GATE CHURCH (BOGNOR REGIS) LTD

TRUSTEES' REPORT

Gifts to trustees were as follows: 2 gifts to Ben Leney (Pastor) & family. A gift to Maggie Page for accounts work.

Giving remained stable. Expenditure adjusted as Denise Elliott was employed by the church for office work from February 2021 in place of Amy Leney. Co-pastor Martin French stopped working for the church in October. There are 3 salaried employees: Ben Leney pastor, Denise Elliott admin and Carla Ciciiani Beehive cleaner.

Financial review

Income for the year amounted to £47,876 (2020: £43,704) and expenditure £38,827 (2020: 46,587). The surplus was added to funds brought forward and unrestricted funds were £265,790 at the year end.

Policy on reserves

At the present time funds are used as they arise and there is no reserve policy required. The trustees would like to establish a reserve of at least three months of regular outgoings when circumstances permit.

Investment policy and objectives

At the present time the income of the charity is fully committed on a month to month basis. The trustees will apply an investment policy if surplus funds arise in the future.

Going concern

After making appropriate enquiries, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. For this reason they continue to adopt the going concern basis in preparing the financial statements.

Structure, governance and management

Nature of governing document

The King's Gate Church (Bognor Regis) Ltd is registered as a charitable company limited by guarantee and was set up by a Memorandum of Association.

Recruitment and appointment of trustees

The management of the company is the responsibility of the trustees who are elected and co-opted under the terms of the Articles of Association.

Organisational structure

The charity is governed by the directors. The chairman of directors also acts as the Senior Minister. The church functions with a leadership team who oversee the various departmental activities. The directors are trustees for the purposes of the Charity Commission.

Risk management

The trustees have assessed the major risks to which the charity is exposed, in particular those related to the operations and finances of the charity, and are satisfied that systems and procedures are in place to mitigate our exposure to the major risks.

Page 3

THE KING'S GATE CHURCH (BOGNOR REGIS) LTD

TRUSTEES' REPORT

Statement of Trustees' Responsibilities

The trustees (who are also the directors of The King's Gate Church (Bognor Regis) Ltd for the purposes of company law) are responsible for preparing the trustees' report and the financial statements in accordance with the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) and applicable law and regulations.

Company law requires the trustees to prepare financial statements for each financial year. Under company law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company's transactions and disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The annual report was approved by the trustees of the charity on 17 December 2021 and signed on its behalf by:

......................................... Benjamin Leney Trustee

Page 4

THE KING'S GATE CHURCH (BOGNOR REGIS) LTD

INDEPENDENT EXAMINER'S REPORT

I report to the charity trustees on my examination of the accounts of the charity for the year ended 31 March 2021 which are set out on pages 6 to 17.

Respective responsibilities of trustees and examiner

As the charity’s trustees of The King's Gate Church (Bognor Regis) Ltd (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 The King's Gate Church (Bognor Regis) Ltd 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

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 The King's Gate Church (Bognor Regis) Ltd 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 [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)].

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.

...................................... G W Schulz ACMA Independent Examiners Ltd 2 Broadbridge Business Centre Delling Lane Bosham Chichester West Sussex PO18 8NF

17 December 2021

Page 5

THE KING'S GATE CHURCH (BOGNOR REGIS) LTD

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2021

Note
Unrestricted
funds
£
Income and Endowments from:
Donations and legacies
3
47,746
Charitable activities
4
130
Investment income
5
-
Total income
47,876
Expenditure on:
Charitable activities
6
38,827
Total expenditure
38,827
Gains/losses on
investment assets
159
Net
income/(expenditure)
9,208
Net movement in funds
9,208
Reconciliation of funds
Total funds brought
forward
256,582
Total funds carried
forward
13
265,790		 Restricted
funds
£
-
-
-
-
-
-
-
-
-
417
417		 Total
2021
£
47,746
130
-
47,876
38,827
38,827
159
9,208
9,208
256,999
266,207		 Total
2020
£
43,642
56
6
43,704
46,587
46,587
(474)
(3,357)
(3,357)
260,356
256,999

The notes on pages 8 to 17 form an integral part of these financial statements. Page 6

THE KING'S GATE CHURCH (BOGNOR REGIS) LTD

REGISTERED NUMBER: 05135809

BALANCE SHEET AS AT 31 MARCH 2021

Note
Fixed assets
Tangible assets
10
Current assets
Debtors
11
Investments
Cash at bank and in hand
Creditors: Amounts falling due within one year
12
Net current assets
Net assets
Funds of the charity:
Restricted income funds
Restricted funds
Unrestricted income funds
Unrestricted funds
Total funds
13		 2021
£
229,800
1,013
402
35,592
37,007
(600)
36,407
266,207
417
265,790
266,207		 2020
£
235,000
1,352
243
21,004
22,599
(600)
21,999
256,999
417
256,582
256,999

For the financial year ending 31 March 2021 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements on pages 6 to 17 were approved by the trustees, and authorised for issue on 17 December 2021 and signed on their behalf by:

......................................... Benjamin Leney Trustee

The notes on pages 8 to 17 form an integral part of these financial statements. Page 7

THE KING'S GATE CHURCH (BOGNOR REGIS) LTD

NOTES TO THE FINANCIAL STATEMENTS FOR YEAR ENDED 31 MARCH 2021

1 Charity status

The charity is limited by guarantee, incorporated in England, and consequently does not have share capital. Each of the trustees is liable to contribute an amount not exceeding £1 towards the assets of the charity in the event of liquidation.

2 Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

The financial 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) (effective 1 January 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). They also comply with the Companies Act 2006 and Charities Act 2011.

Basis of preparation

The King's Gate Church (Bognor Regis) Ltd 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 notes.

Going concern

The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern nor any significant areas of uncertainty that affect the carrying value of assets held by the charity.

Income and endowments

All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of the income receivable can be measured reliably.

Page 8

THE KING'S GATE CHURCH (BOGNOR REGIS) LTD

NOTES TO THE FINANCIAL STATEMENTS FOR YEAR ENDED 31 MARCH 2021

Donations and legacies

Donations are recognised when the charity has been notified in writing of both the amount and settlement date. In the event that a donation is subject to conditions that require a level of performance by the charity before the charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the charity and it is probable that these conditions will be fulfilled in the reporting period.

Gift aid

Incoming resources from tax reclaims are included in the Statement of Financial Activities at the same time as the gift to which they relate.

Expenditure

All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category.

Charitable activities

Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.

Grant provisions

Provisions for grants are made when the intention to make a grant has been communicated to the recipient but there is uncertainty about either the timing of the grant or the amount of grant payable.

Taxation

The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.

Tangible fixed assets

Individual fixed assets costing £500 or more are initially recorded at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Page 9

THE KING'S GATE CHURCH (BOGNOR REGIS) LTD

NOTES TO THE FINANCIAL STATEMENTS FOR YEAR ENDED 31 MARCH 2021

Depreciation and amortisation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class

Land and buildings

Depreciation method and rate 2% on revalued amount

Debtors

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

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Liabilities

Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.

Liabilities are recognised at the amount that the company anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.

Fund structure

Unrestricted income funds are general funds that are available for use at the trustees's discretion in furtherance of the objectives of the charity.

Designated funds are unrestricted funds set aside for specific purposes at the discretion of the trustees.

Restricted income funds are those donated for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose.

Financial instruments

The company only has financial assets and financial 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 amortised cost using the effective interest method.

Page 10

THE KING'S GATE CHURCH (BOGNOR REGIS) LTD

NOTES TO THE FINANCIAL STATEMENTS FOR YEAR ENDED 31 MARCH 2021

3 Income from donations and legacies

Unrestricted funds
Designated
£
General
£
Donations and legacies;
Donations
3,195
26,302
Gift aid reclaimed
-
6,397
Grants, including capital
grants;
Grants
-
10,352
Other income from
donations and legacies
-
1,500
3,195
44,551
4 Income from charitable activities
Unrestricted
funds
General
£
Other income
130
5 Investment income
Interest receivable and similar income;
Interest receivable on bank deposits		 Total
2021
£
29,497
6,397
10,352
1,500
47,746
Total
2021
£
130
Total
2021
£
-		 Total
2020
£
33,441
7,894
-
2,307
43,642
Total
2020
£
56
Total
2020
£
6

Page 11

THE KING'S GATE CHURCH (BOGNOR REGIS) LTD

NOTES TO THE FINANCIAL STATEMENTS FOR YEAR ENDED 31 MARCH 2021

6 Expenditure on charitable activities

Note
Premises
Beehive costs
Office running
costs
Insurance
Licences
Training
Ablaze
Sundry expenses
Bank charges
Independent
examination
Depreciation,
amortisation and
other similar
costs
Grant funding of
activities
7
Staff costs
9		 Unrestricted funds
Designated
£
General
£
-
1,956
-
1,425
-
390
-
1,082
-
908
-
167
-
-
-
13
-
174
-
720
-
5,200
900
9,151
-
16,741
900
37,927		 Total
2021
£
1,956
1,425
390
1,082
908
167
-
13
174
720
5,200
10,051
16,741
38,827		 Total
2020
£
8,066
5,359
447
1,037
1,105
495
66
22
361
720
5,200
5,601
18,108
46,587

Page 12

THE KING'S GATE CHURCH (BOGNOR REGIS) LTD

NOTES TO THE FINANCIAL STATEMENTS FOR YEAR ENDED 31 MARCH 2021

7 Grant-making

Analysis of grants

Grants Grants to institutions
2021
£
2020
£
9,151
5,016		 Grants to individuals
2021
£
2020
£
900
585

8 Trustees remuneration and expenses

During the year, one trustee received any remuneration amounting to £10,700 (2020: 2 trustees £12,396). Amy Leney, wife of D Leney, a trustee, is employed by the church and earned a salary of £4,369 (2020: £5,712) during the year.

During the year, 4 trustees received gifts amounting to £1,100 (2020: £NIL).

The only other payments made to the trustees, or any person connected with them, consisted of reimbursements of expenditure incurred on behalf of the charity in furthering the charity's objects.

9 Staff costs

The aggregate payroll costs were as follows:

Staff costs during the year were:
Wages and salaries		 2021
£
16,741		 2020
£
18,108

The monthly average number of persons (including senior management team) employed by the charity during the year expressed as full time equivalents was as follows:

Employees 2021
No
3		 2020
No
3

No employee received emoluments of more than £60,000 during the year.

Page 13

THE KING'S GATE CHURCH (BOGNOR REGIS) LTD

NOTES TO THE FINANCIAL STATEMENTS FOR YEAR ENDED 31 MARCH 2021

10 Tangible fixed assets

Cost
At 1 April 2020
At 31 March 2021
Depreciation
At 1 April 2020
Charge for the year
At 31 March 2021
Net book value
At 31 March 2021
At 31 March 2020
11 Debtors
Accrued income
12 Creditors: amounts falling due within one year
Accruals		 Land and
buildings
£
260,000		 Total
£
260,000
260,000
25,000
5,200
30,200
229,800
235,000
2020
£
1,352
260,000
25,000
5,200
30,200
229,800
235,000
2021
£
1,013
2021
£
600
2020
£
600

Page 14

THE KING'S GATE CHURCH (BOGNOR REGIS) LTD

NOTES TO THE FINANCIAL STATEMENTS FOR YEAR ENDED 31 MARCH 2021

13 Funds

Unrestricted funds
General
General Funds
Designated
Alpha fund
Bognor equipment fund
Poor fund
Building fund
Indian villages fund
Total unrestricted funds
Restricted funds
PA equipment fund
Breakfast club
Total funds		 Balance at
1 April
2020
£
252,907
152
1,223
500
1,750
50
3,675
256,582
265
152
417
256,999		 Incoming
resources
£
44,681
-
540
605
1,400
650
3,195
47,876
-
-
-
47,876		 Resources
expended
£
(37,768)
-
-
(900)
-
-
(900)
(38,668)
-
-
-
(38,668)		 Balance at
31 March
2021
£
259,820
152
1,763
205
3,150
700
5,970
265,790
265
152
417
266,207

Page 15

THE KING'S GATE CHURCH (BOGNOR REGIS) LTD

NOTES TO THE FINANCIAL STATEMENTS FOR YEAR ENDED 31 MARCH 2021

Unrestricted funds
General
General Funds
Designated
Alpha fund
Bognor equipment fund
Poor fund
Building fund
Indian villages fund
Total unrestricted funds
Restricted funds
PA equipment fund
Breakfast club
Total funds		 Balance at
1 April
2019
£
256,572
200
2,460
485
-
-
3,145
259,717
265
374
639
260,356		 Incoming
resources
£
40,764
-
540
600
1,750
50
2,940
43,704
-
-
-
43,704		 Resources
expended
£
(44,429)
(48)
(1,777)
(585)
-
-
(2,410)
(46,839)
-
(222)
(222)
(47,061)		 Balance at
31 March
2020
£
252,907
152
1,223
500
1,750
50
3,675
256,582
265
152
417
256,999

Page 16

THE KING'S GATE CHURCH (BOGNOR REGIS) LTD

NOTES TO THE FINANCIAL STATEMENTS FOR YEAR ENDED 31 MARCH 2021

14 Analysis of net assets between funds

Tangible fixed assets
Current assets
Current liabilities
Total net assets
Tangible fixed assets
Current assets
Current liabilities
Total net assets		 Unrestricted funds
General
£
Designated
£
229,800
-
30,620
5,970
(600)
-
259,820
5,970
Unrestricted funds
General
£
Designated
£
235,000
-
16,730
5,452
(600)
-
251,130
5,452		 Restricted
funds
£
-
417
-
417
Restricted
funds
£
-
417
-
417		 Total funds
at 31
March
2021
£
229,800
37,007
(600)
266,207
Total funds
at 31
March
2020
£
235,000
22,599
(600)
256,999

Page 17