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2022-03-31-accounts

Registered number: 5370689 Charity number: 1110018

THE KING'S CHURCH MID-SUSSEX

(A company limited by guarantee)

TRUSTEES' REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2022

THE KING'S CHURCH MID-SUSSEX

(A company limited by guarantee)

CONTENTS

Page
Reference and administrative details of the Company, its Trustees and advisers 1
Trustees' report 2 - 6
Independent auditors' report on the financial statements 7 - 10
Consolidated statement of financial activities 11
Consolidated balance sheet 12 - 13
Company balance sheet 14 - 15
Consolidated statement of cash flows 16
Notes to the financial statements 17 - 37

THE KING'S CHURCH MID-SUSSEX

(A company limited by guarantee)

REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2022

Trustees

C Upton P T Wright Mrs S R Priddy (resigned 13 June 2021) C R Jones Ms M Dennis-Smith

Company registered number

5370689

Charity registered number

1110018

Registered office

The King's Centre 33-35 Victoria Road Burgess Hill West Sussex RH15 9LR

Company secretary

P T Wright

Independent auditors

Baldwin Scofield Ltd Chartered Accountants Statutory auditors 3 Newhouse Business Centre Old Crawley Road Horsham West Sussex RH12 4RU

Page 1

THE KING'S CHURCH MID-SUSSEX

(A company limited by guarantee)

TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2022

The Trustees present their annual report together with the audited financial statements of the Company for the 1 April 2021 to 31 March 2022. The Annual report serves the purposes of both a Trustees' report and a directors' report under company law. The Trustees confirm that the Annual report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable company's governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019).

Since the group and the Company qualify as small under section 383 of the Companies Act 2006, the Group strategic report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013 has been omitted.

Objectives and activities

Policies and objectives

The principal object of the charity is to advance and proclaim the Christian religion for the benefit of the public of Mid-Sussex and elsewhere, mainly, but not exclusively, through evangelism and by the preaching and teaching of the Gospel of God concerning Jesus Christ and for other charitable purposes as the charity shall see fit.

The charity pursues its objectives in a number of ways, the details of which are set out in the remainder of this report.

In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'.

Achievements and performance

Review of activities

This last year has, of course, been dominated by our recovery from the Covid-19 pandemic. It is fair to say that it has been slower and harder than expected.

As a church, we began meeting again in person in April 2021. Initially, this was a very small and strange experience. Between 40-50 people in attendance, wearing masks and socially distanced, unable to sing or integrate. Yes, it was good to have people back in the room but it felt far from a normal church service.

As the months have gone on, we have continued to grow again and things have felt more normal. Though our Sunday attendance is not back to pre-COVID levels, we are now seeing consistent numbers each week. It is fair to say, however, that the church has changed significantly. It seems this unusual season has caused many to move on from our church to a new beginning elsewhere and, at the same time, many others to join our church.

We had made plans for a full Christmas programme but the rise of the Omicron variant really impacted team engagement and attendance.

Page 2

THE KING'S CHURCH MID-SUSSEX

(A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

Achievements and performance (continued)

Review of activities (continued)

Our staff team has also faced some challenges over the last 12 months. One of our senior leaders faced a season of significant ill health resulting in him being signed off for three months. Our Youth Leader left the staff team to study full-time which left a big gap. However, after a number of months of searching, we discovered his replacement was right before our eyes (Luke Stevens) and we were able to make an appointment in November. We were also able to recruit a part-time safeguarding coordinator (Helen Lake) who has been a fantastic addition to the team and strengthened all of our safeguarding policies and procedures.

Our ‘Love Your Neighbour’ ministries have continued to operate. Tor Asterley has been a great addition in her role as Centre Manager for King’s Money Advice. King’s Auto Repairs continues to offer amazing support and provision for people. We also maintained our partnership with Hope Into Action Mid-Sussex and a great volunteer team have continued to run The Feast every week. Unfortunately, having poured huge energy into the Rework programme, the demand for it just wasn’t enough for us to continue. Phoebe Mohamed was tireless in her efforts to see this grow but we had to take the decision not to renew her contract.

The King’s Centre is slowly getting busier again and HOME Coffee House is thriving. Sam Marson, who has managed the business since it’s outset, will be moving on to pastures new this year but we have every confidence that Emily Martin, who has supported Sam on the team, will do an excellent job as the new HOME manager.

The members of the King’s Church Mid-Sussex have continued to express incredible generosity throughout the last year, both in regular giving and at ‘Gift Day’ moments.

There has, of course, been significant challenges in the last 12 months. Staff changes and ill health has had a real impact on our capacity. As previously mentioned, it has been slow and hard to rebuild after the COVID lockdown. A number of people in the church have either moved on or moved away and that has been hard. We miss them and the contribution they brought.

Fundraising policies

The church does not undertake any formal fundraising activity with the public nor employ a professional fundraiser to generate funds for its activities. The vast majority of the income of the charity is donations freely given by members of the church who are under no obligation to give.

Financial review

Going concern

After making appropriate enquiries, the Trustees have a reasonable expectation that the Company 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. Further details regarding the adoption of the going concern basis can be found in the accounting policies.

Page 3

THE KING'S CHURCH MID-SUSSEX (A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

Reserves policy

The Trustees have reviewed the level of reserves held. At the year end this totalled £2,206,331 (2021 - £2,245,235) of unrestricted reserves which included £1,651,009 (2021 - £1,722,815) which has been designated by the Trustees to represent a building fund and £44,959 (2021 - £75,300) has been designated to a social action fund and £15,000 (2021: £Nil) for a multiplication fund to support future growth. The Trustees aim for a level of reserves sufficient to safeguard the future operations of the charity and as a minimum level they deem this should be equal to three months expenditure. Currently this equates to approximately £175,000. The Trustees are pleased to report that the unrestricted reserves are in excess of this amount.

Structure, governance and management

Constitution

The King's Church Mid-Sussex is registered as a charitable company limited by guarantee and was set up by a Memorandum of Association.

Methods of appointment or election of Trustees

The management of the Group and the Company is the responsibility of the Trustees who are elected and coopted under the terms of the Memorandum of Association.

Organisational structure and decision-making policies

The day to day running of the Company is delegated to the church leadership who are appointed by the Trustees.

Financial risk management

The Trustees have assessed the major risks to which the Group and the Company are exposed, in particular those related to the operations and finances of the Group and the Company, and are satisfied that systems and procedures are in place to mitigate exposure to the major risks.

Page 4

THE KING'S CHURCH MID-SUSSEX

(A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

Plans for future periods

In many ways, it is still hard to make long term plans. The war in Ukraine only highlights how unpredictable life is. We plan to take up a special offering to support the crisis in Ukraine on Easter Sunday. We don’t fully know how we may be able to respond to Ukrainian families who are coming to the UK but we want to be ready and willing to help.

We hope our Sundays will continue to grow again. We have plans for our teaching series that will seek to really equip the church to live as disciples of Jesus.

We hope to continue to be a church with an online presence. The opportunities it creates for mission mean we want to always be online even when everyone is able to attend in-person meetings. However, the challenges to recruit members for our production team means this may not be sustainable in the long run.

We are excited that we will, once again, be taking a group of young people to the summer Newday event and this time we will be inviting other local churches to come with us.

‘Love Your Neighbour’ will continue to play a central role as we move forward. Rising inflation caused by the Ukraine conflict will, inevitably have a significant effect on people and on our church. If fuels costs continue to rise, this will have real implications for us. We anticipate that the need for our King’s Money Advice centre will only grow.

We are expecting some real financial challenges in the next 12 months. Our regular giving is decreasing due to many established members moving on. The rise in energy costs will have a significant impact on our fuel bills and, if interest rates rise as expected, we will also see an increase in our mortgage repayments. We head into this year carrying a significant deficit, but with the reserves to cover this.

The recovery from COVID, the Ukraine conflict and an uncertain economic climate adds some complexity to leading a church at this present time. The long-term impact of the global pandemic has had an effect on people’s engagement and mind-set. We will continue to do our best to Love God and Love People in order to see lives and communities transformed.

Members' liability

The Members of the Company guarantee to contribute an amount not exceeding £1 to the assets of the Company in the event of winding up.

Page 5

THE KING'S CHURCH MID-SUSSEX (A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

Statement of Trustees' responsibilities

The Trustees (who are also the directors of the Company for the purposes of company law) are responsible for preparing the Trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the Trustees to prepare financial statements for each financial . 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 Group and the Company and of their incoming resources and application of resources, including their 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 Group and the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Group and the 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 Group and the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Disclosure of information to auditors

Each of the persons who are Trustees at the time when this Trustees' report is approved has confirmed that:

Auditors

The auditors, Baldwin Scofield Ltd, have indicated their willingness to continue in office. The designated Trustees will propose a motion reappointing the auditors at a meeting of the Trustees.

Approved by order of the members of the board of Trustees on 26 January 2023 and signed on their behalf by:

P T Wright

Page 6

THE KING'S CHURCH MID-SUSSEX

(A company limited by guarantee)

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF THE KING'S CHURCH MID-SUSSEX

Opinion

We have audited the financial statements of The King's Church Mid-Sussex (the 'parent charitable company') and its subsidiaries (the 'group') for the year ended 31 March 2022 which comprise the Consolidated statement of financial activities, the Consolidated balance sheet, the Company balance sheet, the Consolidated statement of cash flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is 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).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the Group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the Trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Group's or the parent charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report.

Page 7

THE KING'S CHURCH MID-SUSSEX

(A company limited by guarantee)

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF THE KING'S CHURCH MID-SUSSEX (CONTINUED)

Other information

The other information comprises the information included in the Annual report other than the financial statements and our Auditors' report thereon. The Trustees are responsible for the other information contained within the Annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters where the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the Trustees' responsibilities statement, the Trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the Trustees are responsible for assessing the Group's and the parent charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the Group or the parent charitable company or to cease operations, or have no realistic alternative but to do so.

Page 8

THE KING'S CHURCH MID-SUSSEX

(A company limited by guarantee)

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF THE KING'S CHURCH MID-SUSSEX (CONTINUED)

Auditors' responsibilities for the audit of the financial statements

We have been appointed as auditor under section 151 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

We obtained an understanding of the legal and regulatory frameworks that are applicable to the charitable company and determined that the most significant are those that relate to the reporting framework in conformity with the requirements of the Companies Act 2006 and Charities Act 2011 and the relevant direct and indirect tax compliance regulations in the United Kingdom.

We understood how King's Church Mid-Sussex is complying with those frameworks by making enquiries of management to understand how the charitable company maintains and communicates its policies and procedures in these areas and corroborated this by reviewing supporting documentation and minutes of meetings of those charged with governance.

We assessed the susceptibility of the charity’s financial statements to material misstatement, including how fraud might occur by considering the risk of management override to be a fraud risk. In addition, we considered the risk of management override by sampling from the entire population of journals, identifying specific transactions which did not meet our expectations based on specific criteria and investigated these to gain an understanding and then agree back to source documentation.

Based on this understanding we designed our audit procedures to identify noncompliance with such laws and regulations. Our procedures involved verifying that material transactions were recorded in compliance with Financial Reporting Standards in conformity with the requirements of the Companies Act 2006 and Charities Act 2011.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' report.

Page 9

THE KING'S CHURCH MID-SUSSEX

(A company limited by guarantee)

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF THE KING'S CHURCH MID-SUSSEX (CONTINUED)

Use of our report

This report is made solely to the charitable company's trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charitable company's trustees those matters we are required to state to them in an Auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and its members, as a body, for our audit work, for this report, or for the opinions we have formed.

Baldwin Scofield Ltd

Chartered Accountants Statutory auditors 3 Newhouse Business Centre Old Crawley Road Horsham West Sussex RH12 4RU 26 January 2023

Baldwin Scofield Ltd are eligible to act as auditors in terms of section 1212 of the Companies Act 2006.

Page 10

THE KING'S CHURCH MID-SUSSEX

(A company limited by guarantee)

CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2022

Note
Income from:
Donations and legacies
3
Charitable activities
4
Other trading activities
5
Investments
6
Other income
Total income
Expenditure on:
Raising funds
Charitable activities
8
Total expenditure
Net (expenditure)/income
Transfers between funds
20
Net movement in funds before other
recognised gains
Other recognised gains:
Gains on disposal of fixed assets
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Net movement in funds
Total funds carried forward		 Unrestricted
funds
2022
£
614,786
41,012
159,432
-
4,016
819,246
103,215
750,467
853,682
(34,436)
(5,000)
(39,436)
532
(38,904)
2,245,236
(38,904)
2,206,332		 Restricted
funds
2022
£
11,277
-
-
-
-
11,277
-
10,560
10,560
717
5,000
5,717
-
5,717
13,860
5,717
19,577		 Total
funds
2022
£
626,063
41,012
159,432
-
4,016
830,523
103,215
761,027
864,242
(33,719)
-
(33,719)
532
(33,187)
2,259,095
(33,187)
2,225,909		 Total
funds
2021
£
777,061
33,950
48,316
10
-
859,337
41,559
733,133
774,692
84,645
1
84,646
-
84,646
2,174,449
84,646
2,259,095

The Consolidated statement of financial activities includes all gains and losses recognised in the year.

The notes on pages 17 to 37 form part of these financial statements.

Page 11

THE KING'S CHURCH MID-SUSSEX (A company limited by guarantee) REGISTERED NUMBER: 5370689

CONSOLIDATED BALANCE SHEET AS AT 31 MARCH 2022

Note
Fixed assets
Tangible Fixed Assets
13
Current assets
Stocks
15
Debtors
16
Cash at bank and in hand
Creditors: amounts falling due within one
year
17
Net current assets
Total assets less current liabilities
Creditors: amounts falling due after more
than one year
18
Total net assets
Charity funds
Restricted funds
20
Unrestricted funds
20
Total funds		 2,100
49,240
182,208
233,548
(97,665)		 2022
£
3,219,793
135,883
3,355,676
(1,129,768)
2,225,908
19,577
2,206,331
2,225,908		 1,561
50,490
195,199
247,250
(107,552)		 2021
£
3,303,293
139,698
3,442,991
(1,183,896)
2,259,095
13,860
2,245,235
2,259,095

The Company was entitled to exemption from audit under section 477 of the Companies Act 2006.

The members have not required the entity to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

However, an audit is required in accordance with section 151 of the Charities Act 2011.

The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.

Page 12

THE KING'S CHURCH MID-SUSSEX (A company limited by guarantee) REGISTERED NUMBER: 5370689

CONSOLIDATED BALANCE SHEET (CONTINUED) AS AT 31 MARCH 2022

The financial statements were approved and authorised for issue by the Trustees on 26 January 2023 and signed on their behalf by:

P T Wright

The notes on pages 17 to 37 form part of these financial statements.

Page 13

THE KING'S CHURCH MID-SUSSEX (A company limited by guarantee) REGISTERED NUMBER: 5370689

COMPANY BALANCE SHEET AS AT 31 MARCH 2022

Note
Fixed assets
Tangible assets
13
Investments
14
Current assets
Debtors
16
Cash at bank and in hand
Creditors: amounts falling due within one
year
17
Net current assets
Total assets less current liabilities
Creditors: amounts falling due after more
than one year
18
Total net assets
Charity funds
Restricted funds
20
Unrestricted funds
20
Total funds		 172,375
88,740
261,115
(91,318)		 2022
£
3,218,746
10
3,218,756
169,797
3,388,553
(1,129,768)
2,258,785
19,577
2,239,208
2,258,785		 150,938
126,465
277,403
(106,562)		 2021
£
3,301,702
10
3,301,712
170,841
3,472,553
(1,183,896)
2,288,657
13,861
2,274,796
2,288,657

The Company's net movement in funds for the year was £ (29,870) (2021 - £104,753) .

The Company was entitled to exemption from audit under section 477 of the Companies Act 2006.

The members have not required the entity to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

However, an audit is required in accordance with section 151 of the Charities Act 2011.

The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.

Page 14

THE KING'S CHURCH MID-SUSSEX (A company limited by guarantee) REGISTERED NUMBER: 5370689

COMPANY BALANCE SHEET (CONTINUED) AS AT 31 MARCH 2022

The financial statements were approved and authorised for issue by the Trustees on 26 January 2023 and signed on their behalf by:

P T Wright

The notes on pages 17 to 37 form part of these financial statements.

Page 15

THE KING'S CHURCH MID-SUSSEX

(A company limited by guarantee)

CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2022

Cash flows from operating activities
Net cash used in operating activities
Cash flows from investing activities
Purchase of tangible fixed assets
Net cash used in investing activities
Cash flows from financing activities
Net cash provided by financing activities
Change in cash and cash equivalents in the year
Cash and cash equivalents at the beginning of the year
Cash and cash equivalents at the end of the year
The notes on pages 17 to 37 form part of these financial statements		 2022
£
(1,132)
(11,858)
(11,858)
-
(12,990)
195,199
182,209		 2021
£
138,027
(28,100)
(28,100)
-
109,927
85,272
195,199

Page 16

THE KING'S CHURCH MID-SUSSEX

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

1. General information

King's Church Mid-Sussex is registered as a charitable company limited by guarantee (Company No: 5370689) and was set up by a Memorandum of Association. It is registered as a charity by the Charity Commission; registration number 1110018.

2. Accounting policies

2.1 Basis of preparation of financial statements

The financial statements 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), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

The King's Church Mid-Sussex 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.

The Consolidated statement of financial activities (SOFA) and Consolidated balance sheet consolidate the financial statements of the Company and its subsidiary undertaking. The results of the subsidiary are consolidated on a line by line basis.

The Company has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own Statement of financial activities in these financial statements.

2.2 Income

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

Grants are included in the Consolidated statement of financial activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the Balance sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued.

Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Other income is recognised in the period in which it is receivable and to the extent the goods have been provided or on completion of the service.

2.3 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.

Page 17

THE KING'S CHURCH MID-SUSSEX

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

2. Accounting policies (continued)

2.3 Expenditure (continued)

Expenditure on charitable activities is incurred on directly undertaking the activities which further the Group's objectives, as well as any associated support costs.

Grants payable are charged in the year when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the year end are noted as a commitment, but not accrued as expenditure.

Expenditure is inclusive of irrecoverable VAT.

2.4 Government grants

Government grants relating to tangible fixed assets are treated as deferred income and released to the Consolidated statement of financial activities over the expected useful lives of the assets concerned. Other grants are credited to the Consolidated statement of financial activities as the related expenditure is incurred.

2.5 Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Group; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.

2.6 Tangible fixed assets and depreciation

Tangible fixed assets costing £500 or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.

Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.

Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Freehold property - 2% straight line
Audio visual equipment - 33% straight line
Furniture and equipment - 25% straight line
Computer equipment - 25% straight line
Coffee House - 25% straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Page 18

THE KING'S CHURCH MID-SUSSEX (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

2. Accounting policies (continued)

2.7 Investments

Fixed asset investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the Balance sheet date, unless the value cannot be measured reliably in which case it is measured at cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and presented as ‘Gains/(Losses) on investments’ in the Consolidated statement of financial activities.

Investments in subsidiaries are valued at cost less provision for impairment.

2.8 Stocks

Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

2.9 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.

2.10 Cash at bank and in hand

Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

2.11 Liabilities and provisions

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.

Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Consolidated statement of financial activities as a finance cost.

2.12 Financial instruments

The Group 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.

2.13 Pensions

The Group operates a defined contribution pension scheme and the pension charge represents the amounts payable by the Group to the fund in respect of the year.

Page 19

THE KING'S CHURCH MID-SUSSEX

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

2. Accounting policies (continued)

2.14 Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Group and which have not been designated for other purposes.

Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Group for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.

Investment income, gains and losses are allocated to the appropriate fund.

Page 20

THE KING'S CHURCH MID-SUSSEX

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

3. Income from donations and legacies

Unrestricted
funds
2022
£
Donations
592,816
Government grants
2,122
Similar incoming resources
19,848
614,786
Unrestricted
funds
2021
£
Donations
706,207
Government grants
38,941
Similar incoming resources
9,410
754,558		 Restricted
funds
2022
£
11,277
-
-
11,277
Restricted
funds
2021
£
22,503
-
-
22,503		 Total
funds
2022
£
604,093
2,122
19,848
626,063
Total
funds
2021
£
728,710
38,941
9,410
777,061

4. Income from charitable activities

Unrestricted
funds
2022
£
Rental income
41,012
Unrestricted
funds
2021
£
Rental income
33,950		 Total
funds
2022
£
41,012
Total
funds
2021
£
33,950

Page 21

THE KING'S CHURCH MID-SUSSEX

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

5. Income from other trading activities

Income from non charitable trading activities

Unrestricted
funds
2022
£
Rental income and cafe sales
159,432
Unrestricted
funds
2021
£
Rental income and cafe sales
48,316
6.
Investment income		 Total
funds
2022
£
159,432
Total
funds
2021
£
48,316
Investment income - local cash
7.
Analysis of grants
Grants		 Unrestricted
funds
2021
£
10
Grants to
Institutions
2022
£
78,753		 Total
funds
2022
£
Total
funds
2021
£
10
Total
funds
2022
£
78,753

Page 22

THE KING'S CHURCH MID-SUSSEX

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

7. Analysis of grants (continued)

Grants to Total
Institutions funds
2021 2021
£ £
Grants 96,420 96,420

8. Analysis of expenditure on charitable activities

Summary by fund type

Unrestricted
funds
2022
£
Direct costs of charitable activities
750,467
Unrestricted
funds
2021
£
Direct costs of charitable activities
712,658		 Restricted
funds
2022
£
10,560
Restricted
funds
2021
£
20,475		 Total
2022
£
761,027
Total
2021
£
733,133

9. Analysis of expenditure by activities

Activities Grant
undertaken funding of Support Total
directly activities costs funds
2022 2022 2022 2022
£ £ £ £
Charitable activity costs 609,007 78,753 73,267 761,027

Page 23

THE KING'S CHURCH MID-SUSSEX

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

9.

Analysis of expenditure by activities (continued)

Activities Grant
undertaken funding of Support Total
directly activities costs funds
2021 2021 2021 2021
£ £ £ £
Charitable activity costs 570,959 96,420 65,754 733,133

Analysis of direct costs

Staff costs
Depreciation
Property running costs
Conferences and training
Repairs and equipment
Book and CDs
KAR restricted expenditure
Motor expenses
Outreach
Hospitality
Social Action Ministries (including Debt Advice)
Staff expenses
Youth work
Advertising and marketing
Conference running costs
Worship resources		 Activities
2022
£
397,749
94,606
37,105
5,580
9,196
415
10,560
376
3,969
1,865
26,270
1,992
5,164
13,357
65
738
609,007		 Total
funds
2022
£
397,749
94,606
37,105
5,580
9,196
415
10,560
376
3,969
1,865
26,270
1,992
5,164
13,357
65
738
609,007

Page 24

THE KING'S CHURCH MID-SUSSEX

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

9. Analysis of expenditure by activities (continued)

Analysis of direct costs (continued)

Staff costs
Depreciation
Property running costs
Conferences and training
Repairs and equipment
Books and CDs
KAR restricted expenditure
Motor expenses
Outreach
Hospitality
Debt Advice Centre
Staff expenses
Youth work
Advertising and marketing
Worship resources		 Activities
2021
£
400,448
96,202
20,171
2,450
5,913
103
20,475
38
4,004
625
12,697
700
1,793
4,533
807
570,959		 Total
funds
2021
£
400,448
96,202
20,171
2,450
5,913
103
20,475
38
4,004
625
12,697
700
1,793
4,533
807
570,959

Analysis of support costs

Finance costs
CCL Licence
Sundry expenses
Telephone
Printing, post and stationery
Insurance
Bank charges
Audit and accountancy		 Activities
2022
£
47,223
1,220
8,281
5,104
5,697
1,871
1,671
2,200
73,267		 Total
funds
2022
£
47,223
1,220
8,281
5,104
5,697
1,871
1,671
2,200
73,267

Page 25

THE KING'S CHURCH MID-SUSSEX

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

9. Analysis of expenditure by activities (continued)

Analysis of support costs (continued)

Finance costs
Sundry expenses
Telephone
Printing, post and stationery
Insurance
Bank charges
Audit and accountancy
10.
Auditors' remuneration
Fees payable to the group's auditor for the audit of the group's
accounts
11.
Staff costs
Group
2022
£
Wages and salaries
397,302
Social security costs
27,845
Contribution to defined contribution pension
schemes
32,491
457,638		 annual
Group
2021
£
389,515
29,937
31,262
450,714		 Activities
2021
£
47,958
4,307
2,395
4,162
1,826
1,906
3,200
65,754
2022
£
3,800
Company
2022
£
343,121
24,864
29,764
397,749		 Total
funds
2021
£
47,958
4,307
2,395
4,162
1,826
1,906
3,200
65,754
2021
£
3,800
Company
2021
£
343,990
27,688
28,769
400,447

Page 26

THE KING'S CHURCH MID-SUSSEX

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

11. Staff costs (continued)

The average number of persons employed by the Company during the year was as follows:

Church
Cafe staff in subsidiary		 Group
2022
No.
16
5
21		 Group
2021
No.
17
4
21		 Company
2022
No.
16
-
16		 Company
2021
No.
17
-
17

No employee received remuneration amounting to more than £60,000 in either year.

12. Trustees' remuneration and expenses

During the year, no Trustees received any remuneration or other benefits (2021 - £NIL) .

During the year ended 31 March 2022, no Trustee expenses have been incurred (2021 - £NIL) .

Page 27

THE KING'S CHURCH MID-SUSSEX

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

13. Tangible fixed assets

Group

Cost or valuation
At 1 April 2021
Additions
Disposals
At 31 March 2022
Depreciation
At 1 April 2021
Charge for the year
On disposals
At 31 March 2022
Net book value
At 31 March 2022
At 31 March 2021		 Freehold
property
£
3,881,956
-
-
3,881,956
608,755
77,636
-
686,391
3,195,565
3,273,201		 Audio
visual
equipment
£
63,288
436
-
63,724
52,203
6,373
-
58,576
5,148
11,085		 Furniture
and
equipment
£
159,479
6,604
(1,025)
165,058
149,504
6,141
(1,025)
154,620
10,438
9,975		 Computer
equipment
£
19,347
4,818
(2,460)
21,705
10,315
5,208
(2,460)
13,063
8,642
9,032		 Other fixed
assets
£
95,130
-
-
95,130
95,130
-
-
95,130
-
-		 Total
£
4,219,200
11,858
(3,485)
4,227,573
915,907
95,358
(3,485)
1,007,780
3,219,793
3,303,293

Page 28

THE KING'S CHURCH MID-SUSSEX

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

13. Tangible fixed assets (continued)

Company

Cost or valuation
At 1 April 2021
Additions
Disposals
At 31 March 2022
Depreciation
At 1 April 2021
Charge for the year
On disposals
At 31 March 2022
Net book value
At 31 March 2022
At 31 March 2021		 Freehold
property
£
3,881,956
-
-
3,881,956
608,755
77,636
-
686,391
3,195,565
3,273,201		 Audio
visual
equipment
£
63,288
436
-
63,724
52,203
6,373
-
58,576
5,148
11,085		 Furniture
and
equipment
£
134,198
6,396
(1,025)
139,569
125,601
5,441
(1,025)
130,017
9,552
8,597		 Computer
equipment
£
18,264
4,818
(2,460)
20,622
9,445
5,156
(2,460)
12,141
8,481
8,819		 Other fixed
assets
£
95,130
-
-
95,130
95,130
-
-
95,130
-
-		 Total
£
4,192,836
11,650
(3,485)
4,201,001
891,134
94,606
(3,485)
982,255
3,218,746
3,301,702

Page 29

THE KING'S CHURCH MID-SUSSEX

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

14. Fixed asset investments

Company
Cost or valuation
At 1 April 2021
At 31 March 2022
Net book value
At 31 March 2022
At 31 March 2021		 Investments
in
subsidiary
companies
£
10
10
10
10

Principal subsidiaries

The following was a subsidiary undertaking of the Company:

Name Company Registered office or principal Principal activity
number place of business
Kings Trading Limited 10646691 33-35 Victoria Rd, Burgess Hill Rental and cafe sales
Class of Holding Included in
shares consolidation
Ordinary 100% Yes

The financial results of the subsidiary for the year were:

Name Income Expenditure Profit/(Loss) Net assets
£ £ / Surplus/ £
(Deficit) for
the year
£
Kings Trading Limited 159,432 162,749 (3,317) (32,692)

Page 30

THE KING'S CHURCH MID-SUSSEX

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

15. Stocks

Group Group
2022 2021
£ £
Finished goods and goods for resale 2,100 1,561

16. Debtors

Due within one year
Trade debtors
Amounts owed by group undertakings
Other debtors
Prepayments and accrued income
Tax recoverable		 Group
2022
£
16,262
-
9,422
5,780
17,776
49,240		 Group
2021
£
7,613
-
19,087
3,097
20,693
50,490		 Company
2022
£
3,950
127,883
16,986
5,780
17,776
172,375		 Company
2021
£
3,120
103,876
20,152
3,097
20,693
150,938

17. Creditors: Amounts falling due within one year

Bank overdrafts
Bank loans
Other loans
Trade creditors
Amounts owed to See Kenya
Other taxation and social security
Pension fund loan payable
Other creditors
Accruals and deferred income		 Group
2022
£
2,852
54,239
10,000
3,847
20
9,647
2,443
4,263
10,354
97,665		 Group
2021
£
1,238
56,136
29,000
-
-
8,485
3,371
2,395
6,927
107,552		 Company
2022
£
2,852
54,239
10,000
-
20
9,647
2,443
4,263
7,854
91,318		 Company
2021
£
1,238
56,136
29,000
-
-
8,485
3,371
2,405
5,927
106,562

Page 31

THE KING'S CHURCH MID-SUSSEX

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

18. Creditors: Amounts falling due after more than one year

Group
2022
£
Bank loans
1,129,768
Included within the above are amounts falling due as follows:
Group
2022
£
Between one and two years
Bank loans
55,044
Between two and five years
Bank loans
183,192
Over five years
Bank loans
891,532		 Group
2021
£
1,183,896
Group
2021
£
58,326
189,002
936,569		 Company
2022
£
1,129,768
Company
2022
£
55,044
183,192
891,532		 Company
2021
£
1,183,896
Company
2021
£
58,326
189,002
936,569

The aggregate amount of liabilities payable or repayable wholly or in part more than five years after the reporting date is:

Payable or repayable by instalments Group
2022
£
891,532
891,532		 Group
2021
£
936,569
936,569		 Company
2022
£
891,532
891,532		 Company
2021
£
936,569
936,569

The bank loans amounting to £1,184,007 are secured on the freehold properties of the charity at 33-35 Victoria Road, Burgess Hill and 12 Mill Road, Burgess Hill.

The loans are due to be repaid in 2037 and bear interest at the current rates of between 4.5% and 6.75%.

19. Financial instruments

Group Group Company Company
2022 2021 2022 2021
£ £ £ £
Financial assets
Financial assets measured at fair value
through income and expenditure 182,208 195,199 88,740 126,465

Financial assets measured at fair value through income and expenditure comprise bank balances.

Page 32

THE KING'S CHURCH MID-SUSSEX

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

20. Statement of funds

Statement of funds - current year

Unrestricted
funds
Designated
funds
Building fund
Social Action
fund (LYN)
Multiplication
fund
General funds
General fund
Share capital
Reserves
Total
Unrestricted
funds
Restricted
funds
Mission fund
King's Auto
Repairs fund
Barnabas fund
Total of funds		 Balance at 1
April 2021
£
1,722,815
75,300
-
1,798,115
476,680
10
(29,570)
447,120
2,245,235
203
13,642
15
13,860
2,259,095		 Income
£
-
4,000
-
4,000
651,798
-
163,448
815,246
819,246
-
11,277
-
11,277
830,523		 Expenditure
£
(71,806)
(26,270)
-
(98,076)
(652,576)
-
(103,030)
(755,606)
(853,682)
-
(10,560)
-
(10,560)
(864,242)		 Transfers
in/out
£
-
(8,071)
15,000
6,929
51,621
-
(63,550)
(11,929)
(5,000)
-
5,000
-
5,000
-		 Gains/
(Losses)
£
-
-
-
-
532
-
-
532
532
-
-
-
-
532		 Balance at
31 March
2022
£
1,651,009
44,959
15,000
1,710,968
528,055
10
(32,702)
495,363
2,206,331
203
19,359
15
19,577
2,225,908

Page 33

THE KING'S CHURCH MID-SUSSEX

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

20. Statement of funds (continued)

Statement of funds - prior year

Unrestricted funds
Designated funds
Building fund
Social Action fund (LYN)
General funds
General fund
Share capital
Reserves
Total Unrestricted funds
Restricted funds
Regional fund
Mission fund
King's Auto Repairs fund
Barnabas fund
Total of funds		 Balance at
1 April 2020
£
1,794,621
-
1,794,621
384,449
10
(9,469)
374,990
2,169,611
585
410
3,764
74
4,833
2,174,444		 Income
£
-
5,000
5,000
783,518
-
48,323
831,841
836,841
-
11,318
11,185
-
22,503
859,344		 Expenditure
£
(71,806)
(10,831)
(82,637)
(630,020)
-
(41,560)
(671,580)
(754,217)
(585)
(11,525)
(8,307)
(59)
(20,476)
(774,693)		 Transfers
in/out
£
-
81,131
81,131
(61,266)
-
(26,865)
(88,131)
(7,000)
-
-
7,000
-
7,000
-		 Balance at
31 March
2021
£
1,722,815
75,300
1,798,115
476,681
10
(29,571)
447,120
2,245,235
-
203
13,642
15
13,860
2,259,095

Page 34

THE KING'S CHURCH MID-SUSSEX

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

21. Summary of funds

Summary of funds - current year

Designated
funds
General funds
Restricted funds		 Balance at 1
April 2021
£
1,798,115
447,120
13,860
2,259,095		 Income
£
4,000
815,246
11,277
830,523		 Expenditure
£
(98,076)
(755,606)
(10,560)
(864,242)		 Transfers
in/out
£
6,929
(11,929)
5,000
-		 Gains/
(Losses)
£
-
532
-
532		 Balance at
31 March
2022
£
1,710,968
495,363
19,577
2,225,908

Summary of funds - prior year

Designated funds
General funds
Restricted funds		 Balance at
1 April 2020
£
1,794,621
374,990
4,833
2,174,444		 Income
£
5,000
831,841
22,503
859,344		 Expenditure
£
(82,637)
(671,580)
(20,476)
(774,693)		 Transfers
in/out
£
81,131
(88,131)
7,000
-		 Balance at
31 March
2021
£
1,798,115
447,120
13,860
2,259,095

22. Analysis of net assets between funds

Analysis of net assets between funds - current year

Unrestricted
funds
2022
£
Tangible fixed assets
3,219,793
Current assets
213,971
Creditors due within one year
(97,665)
Creditors due in more than one year
(1,129,768)
Total
2,206,331		 Restricted
funds
2022
£
-
19,577
-
-
19,577		 Total
funds
2022
£
3,219,793
233,548
(97,665)
(1,129,768)
2,225,908

Page 35

THE KING'S CHURCH MID-SUSSEX

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

22.
Analysis of net assets between funds (continued)
Analysis of net assets between funds - prior year
Unrestricted
funds
2021
Restricted
funds
2021
£
£
Tangible fixed assets
3,303,293
-
Current assets
233,390
13,861
Creditors due within one year
(107,552)
-
Creditors due in more than one year
(1,183,896)
-
Total
2,245,228
13,861
23.
Reconciliation of net movement in funds to net cash flow from operating activities
Group
2022
£
Net income/expenditure for the year (as per Statement of Financial
Activities)
(33,719)
Adjustments for:
Depreciation charges
95,357
Profit on the sale of fixed assets
532
Decrease/(increase) in stocks
(539)
Decrease in debtors
1,283
Decrease in creditors
(64,046)
Net cash provided by/(used in) operating activities
(1,132)
24.
Analysis of cash and cash equivalents
Group
2022
£
Cash in hand
182,209
Total cash and cash equivalents
182,209		 Total
funds
2021
£
3,303,293
247,251
(107,552)
(1,183,896)
2,259,089
Group
2021
£
84,645
98,398
-
689
6,315
(52,020)
138,027
Group
2021
£
195,199
195,199

Page 36

THE KING'S CHURCH MID-SUSSEX

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

25. Analysis of changes in net debt

Cash at bank and in hand
Bank overdrafts repayable on demand
Debt due within 1 year
Debt due after 1 year		 At 1 April
2021
£
195,199
(1,238)
(88,506)
(1,183,896)
(1,078,441)		 Cash flows
£
(12,991)
(1,614)
21,824
54,128
61,347		 At 31 March
2022
£
182,208
(2,852)
(66,682)
(1,129,768)
(1,017,094)

26. Pension commitments

The group operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the group in an independently administered fund. The pension cost charge represents contributions payable by the group to the fund and amounted to £30,027 (2021 - £28,617). Contributions totalling £2,443 (2021 - £3,371) were payable to the fund at the balance sheet date and are included in creditors.

27. Related party transactions

The King's Church Mid-Sussex is related to SeeKenya by virtue of common trustees.

During the year expenditure was incurred on behalf of SeeKenya amounting to £9,096 (2021 - £9,431) and income of £Nil (2021 - £Nil) was collected. At the year end the amount owed from SeeKenya was £20 (2021 - £Nil. During the year no donations were made to SeeKenya (2021 - £Nil).

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