**Charity Registration No. 1109392**
**Company Registration No. 05034302 (England and Wales)**
## **THE KING'S CHURCH DURHAM**
**ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS**
**FOR THE YEAR ENDED 31 AUGUST 2023**
## **THE KING'S CHURCH DURHAM**
## **LEGAL AND ADMINISTRATIVE INFORMATION**
|**Trustees**|K M Jacklin|
|---|---|
||Dr P D Morley|
||A B F Weir|
||Dr M A Bonnington|
||A M Rose Retired|
||Dr A Millard|
|**Secretary**|I P Creasey|
|**Charity number**|1109392|
|**Company number**|05034302|
|**Registered office**|30 Fieldhouse Lane|
||Durham|
||Co. Durham|
||England|
||DH1 4LT|
|**Independent examiner**|Stephen Lamb, FCA|
||12 Bessemer Court|
||Hownsgill Industrial Park|
||Knitsley Lane|
||Consett|
||Co Durham|
||DH8 7BL|
**THE KING'S CHURCH DURHAM**
## **CONTENTS**
||**Page**|
|---|---|
|Trustees' report|1 - 6|
|Independent examiner's report|7|
|Statement of financial activities|8|
|Balance sheet|9 - 10|
|Notes to the financial statements|11 - 21|
## **THE KING'S CHURCH DURHAM**
## **TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT)**
## _**FOR THE YEAR ENDED 31 AUGUST 2023**_
The trustees who are also directors of the charity for the purposes of the companies Act 2006, present their report and financial statements for the year ended 31 August 2023.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Companies Act 2006 and "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)".
## **Objectives and activities**
The objectives of the charity and company are:
- The advancement of non conformist Christian religion:
- The relief of poverty or hardship of people in need by the provision of funding, facilities and equipment;
- The advancement of Christian education by the funding and provision of training, scholarships and bursaries;
- Any other charitable purposes as the Trustees in their absolute discretion shall think fit.
## **Public Benefit**
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake. The trustees confirm that they have complied with the legal requirements relating to public benefit as published in the Charities Act 2011.
- 1 -
## **THE KING'S CHURCH DURHAM**
## **TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)**
## _**FOR THE YEAR ENDED 31 AUGUST 2023**_
## **Significant Activities**
In pursuit of these objectives, the company engaged in the provision of the following activities:
Sunday Worship
51 Sunday morning Church Services with 50 of them live-streamed. At all services God was worshipped and the Bible was read and taught from.
- 30 in person evening Sunday services.
- We continued to adapt the Family Worship we had started as a separate service during COVID19 To incorporate it as part of morning Church service.
- Running a group for the discussion of Christian faith and ethics ;
- Running a group for parents and preschool children;
- Running community fun days in the local area;
- Relieving poverty through donation of funds to Christian organisations working with people in need;
- Running a lunch club and youth group jointly with a local community centre;
- Running a befriending scheme for elderly and isolated people in the Sherburn Road area of Durham.
- Providing meals to congregation members before some of our Church Services;
- Supporting a missional community on a local council estate, including hosting Church Services on the estate for members of the community.
-Including Small group meetings for Bible study, discussion and prayer and Medium size meetings for corporate prayer and worship.
- An internship year and subsequent Ministry Trainee Programme of theological teaching, mission and practical service to the church and the community.
- Continuing to support a family from within the congregation to France with financial support from the church.
- Running assemblies and lunchtime groups in local schools;
- Meetings for children in years 1 to 9 during the Sunday morning service;
- Meetings for young people in years 10 to 13 outside of the Sunday morning service;
- Meetings for university students outside of the Sunday morning service;
- Publicising the message of the Gospel through open air meetings;
All activities were conducted with careful compliance to government COVID19 regulations and recommendations.
- 2 -
**THE KING'S CHURCH DURHAM**
_**FOR THE YEAR ENDED 31 AUGUST 2023**_
## **TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)**
- 3 -
## **THE KING'S CHURCH DURHAM**
## **TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)**
## _**FOR THE YEAR ENDED 31 AUGUST 2023**_
## **Achievements and performance Charitable activities**
The trustees consider the achievements of the church during the year to be:
- The continued growth and ethnic and social diversification of the number of Durham residents attending Sunday meetings at King's Church Durham.
- The continued growth in the number of small midweek groups.
- The continued flourishing and growth of three cluster groups
- medium sized meetings for students which allow a greater degree of participation than a term-time Sunday meeting.
- Running activities which support international students with friendship and other assistance in settling in Durham.
- Running the Eighteenth Internship Year in which two people spent a year receiving theological teaching, performing practical service to support the public Sunday meetings, working in the community on practical projects, preparing resources for the small groups, working on outreach projects with other churches in the UK.
- Community projects including providing fun sporting events for young people, social events for older people and gardening for people unable to do their own.
- The twelth year of the School of Theology, a structured programme of teaching delivered to the interns over the course of their year and also made available to others over a year or two-year period;
- The continued work of the Achor Community in which a network of committed volunteers from the congregation and/or volunteers expanding to the whole of the community in the Sherburn Road area of Durham, establishing intentional Christian community, serving the people of the Sherburn Road area and modelling missional Christian community;
- The support of a free church chaplain working at mental health trust in the region from the associate staff team
- The continued cooperation with St John's Parish Church, Neville's Cross, in the joint LOL youth ministry which mainly consists of midweek activities for young people in Durham ;
- Four staff members studying for MA qualifications as part of their work and training within the church;
- The baptism of eleven members of the church congregation in public church meetings on confession of their Christian faith through the course of the year;
- The continued support and oversight of various activities and groups outside our Sunday services, both local to Durham and on overseas mission trips partnering with other churches and organisations. These activities encourage exploration of Christian faith particularly among those who, for a variety of reasons including social exclusion and poverty, would be less likely to come to Sunday services.
- 4 -
## **THE KING'S CHURCH DURHAM**
## **TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)**
## _**FOR THE YEAR ENDED 31 AUGUST 2023**_
## **Financial review**
## **Financial Position**
The results for the financial period are set out in the Statement of Financial Activities.
Overall the charity received income totalling £498,505 (2022: £412,976) with expenditure on charitable activities (including other costs) £475,988 (2022: £526,088), resulting in a net surplus of funds at 31 August 2023 of £22,517 (2022: Deficit £-113,112).
Total funds at 31 August 2023 are £170,008 (2022: £147,491).
## **Reserves Policy**
The trustees aim to retain between ten and twenty five weeks of running costs in the reserves.
## **Future Plans**
The charity will continue to pursue the significant activities noted in this report with an aim to improve cash flow. There are no plans for any significant capital expenditure in the foreseeable future.
## **Structure, governance and management**
## **Governing Document**
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
## **Trustees**
The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:
K M Jacklin
Dr P D Morley
A B F Weir
Dr M A Bonnington
A M Rose Retired
Dr A Millard
## **Company Secretary**
I P Creasey
## **Recruitment and appointment of new trustees**
The trustees consider annually the question of appropriate new trustees from within those with appropriate skill set within the church congregation.
The trustees' report was approved by the Board of Trustees.
**Dr M A Bonnington**
- 5 -
**THE KING'S CHURCH DURHAM**
## **TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)**
_**FOR THE YEAR ENDED 31 AUGUST 2023**_
## Trustee
Dated: 14 May 2024
- 6 -
## **THE KING'S CHURCH DURHAM**
## **INDEPENDENT EXAMINER'S REPORT**
## **TO THE TRUSTEES OF THE KING'S CHURCH DURHAM**
I report to the trustees on my examination of the financial statements of The King's Church Durham for the year ended 31 August 2023.
## **Responsibilities and basis of report**
As the trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (the 2006 Act).
Having satisfied myself that the financial statements of the Company 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 the Company’s financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act). 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 Company’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 ICAEW, 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 that in any material respect:
- 1 accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or
- 2 the financial statements do not accord with those records; or
- 3 the financial statements 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 financial statements 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 financial statements to be reached.
Stephen Lamb, FCA
Member of The Institute of Chartered Accountants England and Wales 12 Bessemer Court Hownsgill Industrial Park Knitsley Lane Consett Co Durham DH8 7BL
Dated: 14 May 2024
- 7 -
## **THE KING'S CHURCH DURHAM**
## **STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT**
## _**FOR THE YEAR ENDED 31 AUGUST 2023**_
|**Unrestricted**
**Restricted**
**funds**
**funds**
**2023**
**2023**
**Notes**
**£**
**£**
**Income from:**
Donations and legacies
**2**
380,752
48,056
Charitable activities
**3**
54,727
14,970
**Total income**
435,479
63,026
**Expenditure on:**
Charitable activities
**4**
411,882
62,606
Other
**9**
-
1,500
**Total resources**
**expended**
411,882
64,106
**Net income/(expenditure) for**
**the year/**
**Net movement in funds**
23,597
(1,080)
Fund balances at 1
September 2022
16,614
130,877
**Fund balances at 31**
**August 2023**
40,211
129,797|**Total** Unrestricted
Restricted
Total
funds
funds
**2023**
2022
2022
2022
**£**
**£**
**£**
**£**
428,808
310,989
15,529
326,518
69,697
52,140
34,318
86,458
498,505
363,129
49,847
412,976
474,488
486,462
38,312
524,774
1,500
-
1,314
1,314
475,988
486,462
39,626
526,088
22,517
(123,333)
10,221
(113,112)
147,491
139,947
120,656
260,603
170,008
16,614
130,877
147,491|
|---|---|
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.
- 8 -
## **THE KING'S CHURCH DURHAM**
## **BALANCE SHEET**
## _**AS AT 31 AUGUST 2023**_
|**Notes**
**Fixed assets**
Tangible assets
**10**
**Current assets**
Debtors
**11**
Cash at bank and in hand
**Creditors: amounts falling due within**
**one year**
**13**
Net current assets
**Total assets less current liabilities**
**Creditors: amounts falling due after**
**more than one year**
**14**
**Net assets**
**Income funds**
Restricted funds
**15**
Unrestricted funds|**2023**
**£**
5,794
50,576
56,370
(10,981)|**£**
150,094
45,389
195,483
(25,475)
170,008
129,797
40,211
170,008|**2022**
**£**
9,221
20,740
29,961
(10,158)|**£**
159,936
19,803
179,739
(32,248)
147,491
130,877
16,614
147,491|
|---|---|---|---|---|
- 9 -
_**AS AT 31 AUGUST 2023**_
## **THE KING'S CHURCH DURHAM**
## **BALANCE SHEET (CONTINUED)**
The charitable company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 August 2023.
The directors acknowledge their responsibilities for ensuring that the charity keeps accounting records which comply with section 386 of the Act and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its incoming resources and application of resources, including its income and expenditure, for the financial year in accordance with the requirements of sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the Trustees on 14 May 2024
Dr M A Bonnington
## **Trustee**
## **Company Registration No. 05034302**
- 10 -
**THE KING'S CHURCH DURHAM**
**NOTES TO THE FINANCIAL STATEMENTS**
_**FOR THE YEAR ENDED 31 AUGUST 2023**_
## **1 Accounting policies**
## **Charity information**
The King's Church Durham is a private company limited by guarantee incorporated in England and Wales. The registered office is 30 Fieldhouse Lane, Durham, Co. Durham, DH1 4LT, England.
## **1.1 Accounting convention**
The financial statements have been prepared in accordance with the charity's the Companies Act 2006 and "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)". The charity is a Public Benefit Entity as defined by FRS 102.
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 are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention modified to include the revaluation of freehold properties. The principal accounting policies adopted are set out below.
## **1.2 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.
## **1.3 Charitable funds**
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
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.
## **1.4 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.
- 11 -
## **THE KING'S CHURCH DURHAM**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 AUGUST 2023**_
## **1 Accounting policies**
## **(Continued)**
## **1.5 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 headings that aggregate 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.
## **1.6 Tangible 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:
Freehold property 2% on cost Improvements to Property 5% on cost Fixtures and fittings 33% on cost Computers 33% on cost Motor vehicles 25% on reducing balance
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.
## **1.7 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.
## **1.8 Financial instruments**
The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
## _**Basic financial assets**_
Basic financial assets, which include debtors and cash and bank balances, are measured at transaction price including transaction costs.
- 12 -
## **THE KING'S CHURCH DURHAM**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 AUGUST 2023**_
## **1 Accounting policies**
## **(Continued)**
## _**Basic financial liabilities**_
Basic financial liabilities, including creditors and bank loans are recognised at transaction price.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities.
## _**Derecognition of financial liabilities**_
Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.
## **1.9 Taxation**
The charity is exempt from corporation tax on its charitable activities.
## **2 Donations and legacies**
|**Unrestricted**
**Restricted**
**funds**
**funds**
**2023**
**2023**
**£**
**£**
Donations and gifts
374,952
48,056
Other general grants
5,800
-
380,752
48,056|**Total** Unrestricted
Restricted
funds
funds
**2023**
2022
2022
**£**
£
£
423,008
300,081
8,029
5,800
10,908
7,500
428,808
310,989
15,529|Total
2022
£
308,110
18,408|
|---|---|---|
|||326,518|
- 13 -
## **THE KING'S CHURCH DURHAM**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 AUGUST 2023**_
## **3 Charitable activities**
||**Religious**|**Religious**|
|---|---|---|
||**activities**|**activities**|
||**2023**|**2022**|
||**£**|**£**|
|Religious Activities|58,585|70,820|
|Charitable rental income|8,945|10,620|
|Other income|2,167|5,018|
||69,697|86,458|
|Analysis by fund|||
|Unrestricted funds|54,727|52,140|
|Restricted funds|14,970|34,318|
||69,697|86,458|
- 14 -
## **THE KING'S CHURCH DURHAM**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 AUGUST 2023**_
## **4 Charitable activities**
||**Religious**|**Religious**|
|---|---|---|
||**Activities**|**Activities**|
||**2023**|**2022**|
||**£**|**£**|
|Staff costs|260,956|263,661|
|Depreciation and impairment|9,843|4,495|
|Religious Activities|1,434|1,224|
|Insurance|2,827|2,470|
|Light and heat|3,916|2,350|
|Postage and stationary|201|344|
|Book/resources|1,074|897|
|Cafe and catering|18,846|13,072|
|Clothing|723|2,079|
|Conference fees|1,436|1,171|
|Consumables|92|25|
|Cleaning|338|323|
|CRB costs|13|13|
|Garden|21|-|
|Gifts and hospitality|2,416|3,674|
|Internet|1,254|1,473|
|Lease premises|11,573|11,397|
|Other charitable expenditure|114,257|170,221|
||431,220|478,889|
|Grant funding of activities (see note 5)|41,828|44,733|
|Share of governance costs (see note 6)|1,440|1,152|
||474,488|524,774|
|**Analysis by fund**|||
|Unrestricted funds|411,882|486,462|
|Restricted funds|62,606|38,312|
||474,488|524,774|
- 15 -
## **THE KING'S CHURCH DURHAM**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 AUGUST 2023**_
## **5 Grants payable**
||**Religious**|Religious|
|---|---|---|
||**Activities**|Activities|
||**2023**|2022|
||**£**|£|
|Grants to institutions:|||
|Grants to individuals|41,828|44,733|
||41,828|44,733|
-
## **6 Support costs**
|**Support costs Governance**
**costs**
**£**
**£**
Accountancy
-
1,440
-
1,440
Analysed between
Charitable activities
-
1,440|**2023**Support costs Governance
costs
**£**
£
£
1,440
-
1,152
1,440
-
1,152
1,440
-
1,152|2022
£
1,152|
|---|---|---|
|||1,152|
|||1,152|
## **7 Trustees**
M A Bonnington received remuneration of £15,680 (2022: £14,415) for the year ended 31 August 2023 . These payments relate to his role as the senior leader which involves pastoral meetings, training and preparing for preaching and leading Sunday services.
K M Jacklin received remuneration of £28,108 (2022: £26,362) paid for the year ended 31 August 2023 These payments relate to her role of pastoral co-coordinator which primarily involves pastoral meetings.
- 16 -
## **THE KING'S CHURCH DURHAM**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 AUGUST 2023**_
## **8 Employees**
The average monthly number of employees during the year was:
|**Employment costs**
Wages and salaries
Social security costs
Other pension costs|**2023**
**Number**
16
**2023**
**£**
226,011
19,929
15,016
260,956|**2022**
**Number**
17|
|---|---|---|
|||**2022**
**£**
238,537
8,769
16,355|
|||263,661|
No employee received employee benefits of more than £60,000 during the year (2022: Nil).
## **9 Other Support Costs**
||**Restricted**|Restricted|
|---|---|---|
||**funds**|funds|
||**2023**|2022|
|Interest on long term loans|1,500|1,314|
||1,500|1,314|
- 17 -
## **THE KING'S CHURCH DURHAM**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 AUGUST 2023**_
## **10 Tangible fixed assets**
|**Cost**
At 1 September 2022
At 31 August 2023
**Depreciation and impairment**
At 1 September 2022
Depreciation charged in the year
At 31 August 2023
**Carrying amount**
At 31 August 2023
At 31 August 2022|**Freehold**
**property**
**Improvements to**
**Property**
**Fixtures and**
**fittings**
**£**
**£**
**£**
133,313
44,554
71,095
133,313
44,554
71,095
23,949
6,683
60,028
2,666
3,116
3,652
26,615
9,799
63,680
106,698
34,755
7,415
109,364
37,870
11,067|**Computers**
**Motor vehicles**
**£**
**£**
2,988
24,309
2,988
24,309
2,988
22,674
-
409
2,988
23,083
-
1,226
-
1,635|**Total**
**£**
276,259|
|---|---|---|---|
||||276,259|
||||116,322
9,843|
||||126,165|
||||150,094|
||||159,936|
- 18 -
## **THE KING'S CHURCH DURHAM**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 AUGUST 2023**_
|**11**
**Debtors**
**Amounts falling due within one year:**
Other debtors
Prepayments and accrued income
**12**
**Loans and overdrafts**
Bank loans
Payable within one year
Payable after one year|**2023**
**£**
4,140
1,654
5,794
**2023**
**£**
31,594
6,119
25,475|**2022**
**£**
8,165
1,056|
|---|---|---|
|||9,221|
|||**2022**
**£**
37,713|
|||5,465
32,248|
The long-term loans are secured by fixed charges held by Stewardship Services (Uket) Limited, over 49 Habgood Drive Durham, the amount secured is £48,649.
## **13 Creditors: amounts falling due within one year**
|**Notes**
Bank loans
**12**
Other taxation and social security
Accruals and deferred income
**14**
**Creditors: amounts falling due after more than one year**
**Notes**
Bank loans
**12**|**2023**
**£**
6,119
3,422
1,440
10,981
**2023**
**£**
25,475|**2022**
**£**
5,465
3,541
1,152|
|---|---|---|
|||10,158|
|||**2022**
**£**
32,248|
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## **THE KING'S CHURCH DURHAM**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 AUGUST 2023**_
## **15 Restricted funds**
The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes:
|**1**
ACHOR
Ballinger fund
Restricted Gifts|**Movement in funds**
**Balance at**
**September**
**2021**
**Incoming**
**resources**
**Resources**
**expended**
**1**
**£**
**£**
**£**
120,656
18,649
(8,428)
-
7,500
(7,500)
-
23,698
(23,698)
120,656
49,847
(39,626)|**Balance at**
**September**
**2022**
**£**
130,877
-
-
130,877|**Movement in funds**
**Incoming**
**resources**
**Resources**
**expended**
**£**
**£**
14,970
(16,050)
-
-
48,056
(54,088)
63,026
(70,138)|**Transfers**
**Balance at**
**31 August 2023**
**£**
**£**
-
129,797
-
-
6,032
-
6,032
129,797|**Transfers**
**Balance at**
**31 August 2023**
**£**
**£**
-
129,797
-
-
6,032
-
6,032
129,797|
|---|---|---|---|---|---|
||||||129,797|
ACHOR project - arises from the income generated from the events held within the property owned by the charity.
Ballinger Trust fund is a restricted grant awarded for the purpose of supporting those in need within Sherburn and the surrounding community Restricted gifts are donations made by church members who specify to the charity what the donation should be used for.
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## **THE KING'S CHURCH DURHAM**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 AUGUST 2023**_
|**16**
**Analysis of net assets between funds**
**Unrestricted**
**funds**
**Restricted**
**funds**
**2023**
**2023**
**£**
**£**
Fund balances at 31
August 2023 are
represented by:
Tangible assets
34,104
115,990
Current
assets/(liabilities)
6,107
39,282
Long term liabilities
-
(25,475)
40,211
129,797|**Total** Unrestricted
funds
Restricted
funds
**2023**
2022
2022
**£**
£
£
150,094
36,341
123,595
45,389
(19,727)
39,530
(25,475)
-
(32,248)
170,008
16,614
130,877|Total
2022
£
159,936
19,803
(32,248)
147,491|
|---|---|---|
## **17 Related party transactions**
There were no disclosable related party transactions during the year (2022 - none).
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