**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:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles of the Charities SORP (FRS 102);
- make judgments and accounting estimates that are reasonable and prudent;
- state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Group will continue in business.
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:
- so far as that Trustee is aware, there is no relevant audit information of which the charitable group's auditors are unaware, and
- that Trustee has taken all the steps that ought to have been taken as a Trustee in order to be aware of any relevant audit information and to establish that the charitable group's auditors are aware of that information.
## **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:
- give a true and fair view of the state of the Group's and of the parent charitable company's affairs as at 31 March 2022 and of the Group's incoming resources and application of resources, including its income and expenditure for the year then ended;
- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
- have been prepared in accordance with the requirements of the Charities Act 2011.
## **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:
- the information given in the Trustees' report is inconsistent in any material respect with the financial statements; or
- the parent charitable company has not kept sufficient accounting records; or
- the parent charitable company financial statements are not in agreement with the accounting records and returns; or
- we have not received all the information and explanations we require for our audit.
## **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).
Page 37