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2023-03-31-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 2023

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 - 5
Independent auditors' report on the financial statements 6 - 9
Consolidated statement of financial activities 10
Consolidated balance sheet 11 - 12
Company balance sheet 13 - 14
Consolidated statement of cash flows 15
Notes to the financial statements 16 - 36

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 2023

Trustees

C Upton P T Wright 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 2023

The Trustees present their annual report together with the audited financial statements of the Company for the 1 April 2022 to 31 March 2023. 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

The last 12 months has been, as is typical of church life, another year of encouragement, challenge and change. The post-pandemic recovery has continued and we have seen some growth in our Sunday morning attendance though, still, we are below our pre-pandemic numbers.

The last year has also seen some significant changes on our staff team.

Our facilities manager, Ashley Bence, stepped down from the role after 10 years of amazing service. He took an empty building in 2012 and grew it to become a thriving center for our community, whilst also creating an income stream from those that hired the building. We, and our regular hirers, miss him greatly.

However, we were able to recruit a superb replacement for the role. Jo Jones joined the team, having worked as a bursar in a large primary school. She brings great experience of facilities management, dealing with people and problem solving to the role and has proved to be a great addition. The King’s Centre continues to be busy, returning to pre-pandemic levels of use.

Sam Marson, manager of HOME Coffee House, also moved on and he was replaced by Emily Martin who had been part of the team for some time. Emily has stepped into the role brilliantly and HOME Coffee House continues to thrive creating a need to expand the staff team to cope with the custom.

Page 2

THE KING'S CHURCH MID-SUSSEX

(A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

Achievements and performance (continued)

Review of activities (continued)

And, after many years managing the finances of the church, Paul Wright steps down from day-to-day involvement as of the end of this financial year. He will leave a huge gap of knowledge and expertise. Paul has fulfilled this role voluntarily and overseen significant change in our church, establishing the financial systems required for such transition. He will be extremely missed in the day-to-day life of the church and as a member of the staff team but will continue in his role as Chair of Trustees. He fulfilled this role on a voluntary basis so it has been necessary to take on a new staff member to manage the church finances. I’m delighted that Jabu Sibanda starts this role from April 2023.

In addition to this, one of our full-time Pastors – Kieran Dunne – reduced his working hours by one day a week due to ongoing health concerns.

Change is always exciting, costly, and disruptive and we should not underestimate the significant amount of change our staff team, and the operational life of the church, has experienced in the last twelve months.

We were able, again, to host the New Ground Leaders conference in November 2022; nearly 400 people from many nations were welcomed at our center for three days of teaching and ministry.

We were also involved again in the annual Christmas Hamper Project; our building being used as the base for compiling and distributing the hampers. We were also able to host local school Nativity Carol Concerts. We always dreamed of our building being a resource for the local community and it is so encouraging when that happens.

Much of church life continued as per previous years. Our Love Your Neighbour ministries continued to serve people in need in our community. They are led by passionate and committed individuals, but we do need to improve the support structure around these teams.

Our ministry with children, young people and families continued. We saw extraordinary growth in our Tuesday night youth club, seeing over 90 young people attend on occasions. Though encouraging, this also gave our team some challenges and, eventually, we had to cap numbers to make the evening safe and manageable.

The expected financial challenges were realized. Our regular giving had decreased post-pandemic but, in addition to this, the rise in energy costs and interest rates added tens of thousands of pounds to our annual expenditure. This, of course, is only expected to continue. However, having started this year anticipating a significant deficit in our budget, the year ends in a better-than-expected financial position. In addition to this we received a large legacy gift which is incredible provision.

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 2023

Reserves policy

The Trustees have reviewed the level of reserves held. At the year end this totalled £2,161,208 (2022 - £2,206,332) of unrestricted reserves which included £1,579,204 (2022 - £1,651,010) which has been designated by the Trustees to represent a building fund, £24,903 (2022 - £44,958) has been designated to a social action fund and £14,830 (2022 - £15,000) 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.

Plans for future periods

"The current financial situation does have a significant implication on our budget for the next year. We are, once again, anticipating a large deficit in our budget. This puts some constraints on areas that we’d like to strengthen on the staff team. For example, the operational demands of church life point to us needing to employ an Operations Director at some point in the future but, at present, this is not possible.

One big headline for the next year is that the Senior Pastor will be taking a sabbatical from June-August. This was due to take place in 2020 but the pandemic interrupted the plans. This of course, will have an implication on the year ahead but there is a strong team in place for this to happen.

We are planning Sunday teaching series from Nehemiah and one on Global Mission. Plus we will, again, host the New Ground leaders conference in November.

One key need will be for us to strengthen teams in all areas of church life and be more intentional with leadership development.

There continues to be so many challenges globally and locally and yet there are so many opportunities to display God’s love and Kingdom here on earth. We will continue to do our best to Love God and Love People in order to see lives and communities transformed.

Page 4

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

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

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.

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 30 January 2024 and signed on their behalf by:

P T Wright

Page 5

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 2023 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 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 (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 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)

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 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)

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 30 January 2024

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

Page 9

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 2023

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 movement in funds before other
recognised gains/(losses)
Other recognised gains/(losses):
Gains on revaluation of fixed assets
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Net movement in funds
Total funds carried forward		 Unrestricted
funds
2023
£
670,250
46,100
224,079
541
-
940,970
145,169
840,925
986,094
(45,124)
-
(45,124)
2,206,342
(45,124)
2,161,218		 Restricted
funds
2023
£
29,232
-
-
-
-
29,232
-
26,955
26,955
2,277
-
2,277
19,576
2,277
21,853		 Total
funds
2023
£
699,482
46,100
224,079
541
-
970,202
145,169
867,880
1,013,049
(42,847)
-
(42,847)
2,225,908
(42,847)
2,183,071		 Total
funds
2022
£
626,063
41,012
159,432
-
4,016
830,523
103,215
761,027
864,242
(33,719)
532
(33,187)
2,259,095
(33,187)
2,225,908

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

The notes on pages 16 to 36 form part of these financial statements.

Page 10

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

CONSOLIDATED BALANCE SHEET AS AT 31 MARCH 2023

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		 2,640
55,572
178,171
236,383
(97,008)		 2023
£
3,128,708
139,375
3,268,083
(1,085,022)
2,183,061
21,853
2,161,208
2,183,061		 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
19,576
2,206,332
2,225,908

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 11

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

CONSOLIDATED BALANCE SHEET (CONTINUED) AS AT 31 MARCH 2023

The financial statements were approved and authorised for issue by the Trustees on 30 January 2024 and signed on their behalf by:

P T Wright

The notes on pages 16 to 36 form part of these financial statements.

Page 12

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

COMPANY BALANCE SHEET AS AT 31 MARCH 2023

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		 80,128
151,178
231,306
(85,861)		 2023
£
3,127,905
10
3,127,915
145,445
3,273,360
(1,085,022)
2,188,338
21,853
2,166,485
2,188,338		 172,385
88,740
261,125
(91,318)		 2022
£
3,218,746
10
3,218,756
169,807
3,388,563
(1,129,768)
2,258,795
19,577
2,239,218
2,258,795

The Company's net movement in funds for the year was £ (70,456) (2022 - £(29,870)) .

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 13

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

COMPANY BALANCE SHEET (CONTINUED) AS AT 31 MARCH 2023

The financial statements were approved and authorised for issue by the Trustees on 30 January 2024 and signed on their behalf by:

P T Wright

The notes on pages 16 to 36 form part of these financial statements.

Page 14

THE KING'S CHURCH MID-SUSSEX

(A company limited by guarantee)

CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2023

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
Repayments of borrowing
Net cash used in 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		 2023
£
50,524
(2,112)
(2,112)
(52,450)
(52,450)
(4,038)
182,209
178,171		 2022
£
54,893
(11,858)
(11,858)
(56,025)
(56,025)
(12,990)
195,199
182,209

The notes on pages 16 to 36 form part of these financial statements

Page 15

THE KING'S CHURCH MID-SUSSEX

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

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 16

THE KING'S CHURCH MID-SUSSEX

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

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 17

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

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

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 18

THE KING'S CHURCH MID-SUSSEX

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

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 19

THE KING'S CHURCH MID-SUSSEX

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

3. Income from donations and legacies

Unrestricted
funds
2023
£
Donations
623,861
Government grants
8,500
Similar incoming resources
37,889
670,250
Unrestricted
funds
2022
£
Donations
592,816
Government grants
2,122
Similar incoming resources
19,848
614,786		 Restricted
funds
2023
£
29,232
-
-
29,232
Restricted
funds
2022
£
11,277
-
-
11,277		 Total
funds
2023
£
653,093
8,500
37,889
699,482
Total
funds
2022
£
604,093
2,122
19,848
626,063

4. Income from charitable activities

Unrestricted
funds
2023
£
Rental income
46,100
Unrestricted
funds
2022
£
Rental income
41,012		 Total
funds
2023
£
46,100
Total
funds
2022
£
41,012

Page 20

THE KING'S CHURCH MID-SUSSEX

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

5. Income from other trading activities

Income from non charitable trading activities

Unrestricted
funds
2023
£
Rental income and cafe sales
224,079
Unrestricted
funds
2022
£
Rental income and cafe sales
159,432
Investment income
Unrestricted
funds
2023
£
Investment income - local cash
541
Analysis of grants
Grants to
Institutions
2023
£
Grants
104,457		 Total
funds
2023
£
224,079
Total
funds
2022
£
159,432
Total
funds
2023
£
541
Total
funds
2023
£
104,457

6. Investment income

7. Analysis of grants

Page 21

THE KING'S CHURCH MID-SUSSEX

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

7. Analysis of grants (continued)

Grants to Total
Institutions funds
2022 2022
£ £
Grants 78,753 78,753

8. Analysis of expenditure on charitable activities

Summary by fund type

Unrestricted
funds
2023
£
Direct costs of charitable activities
840,925
Unrestricted
funds
2022
£
Direct costs of charitable activities
750,467		 Restricted
funds
2023
£
26,955
Restricted
funds
2022
£
10,560		 Total
2023
£
867,880
Total
2022
£
761,027

9. Analysis of expenditure by activities

Activities Grant
undertaken funding of Support Total
directly activities costs funds
2023 2023 2023 2023
£ £ £ £
Charitable activity costs 671,981 104,457 91,441 867,879

Page 22

THE KING'S CHURCH MID-SUSSEX

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

9. Analysis of expenditure by activities (continued)

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

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		 Activities
2023
£
407,814
92,523
60,025
19,785
7,777
1,060
26,955
1,612
7,856
2,283
20,055
4,966
5,047
4,254
9,969
671,981		 Total
funds
2023
£
407,814
92,523
60,025
19,785
7,777
1,060
26,955
1,612
7,856
2,283
20,055
4,966
5,047
4,254
9,969
671,981

Page 23

THE KING'S CHURCH MID-SUSSEX

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

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
Conference running costs
Worship resources		 Activities
2022
£
395,285
94,606
37,105
5,580
9,196
415
10,560
376
3,969
1,865
26,270
4,456
5,164
13,357
65
738
609,007		 Total
funds
2022
£
395,285
94,606
37,105
5,580
9,196
415
10,560
376
3,969
1,865
26,270
4,456
5,164
13,357
65
738
609,007

Analysis of support costs

Finance costs
Sundry expenses
Telephone
Printing, post and stationery
Insurance
Bank charges
Audit and accountancy		 Activities
2023
£
60,388
8,067
8,538
6,736
2,040
1,672
4,000
91,441		 Total
funds
2023
£
60,388
8,067
8,538
6,736
2,040
1,672
4,000
91,441

Page 24

THE KING'S CHURCH MID-SUSSEX

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

9. Analysis of expenditure by activities (continued)

Analysis of support costs (continued)

Finance costs
CCLI 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

10. Auditors' remuneration

2023 2022
£ £
Fees payable to the group's auditor for the audit of the group's annual
accounts 4,450 3,800

11. Staff costs

Wages and salaries
Social security costs
Contribution to defined contribution pension
schemes		 Group
2023
£
418,437
31,759
29,909
480,105		 Group
2022
£
397,302
27,845
30,027
455,174		 Company
2023
£
352,045
28,453
27,316
407,814		 Company
2022
£
343,121
24,864
27,300
395,285

Page 25

THE KING'S CHURCH MID-SUSSEX

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

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
2023
No.
16
5
21		 Group
2022
No.
16
5
21		 Company
2023
No.
16
-
16		 Company
2022
No.
16
-
16

The number of employees whose employee benefits (excluding employer pension costs) exceeded £60,000 was:

Group Group
2023 2022
No. No.
In the band £60,001 - £70,000 1 -

The key management personnel includes the senior pastor who together with his wife are both employed by the charity. Together their total remuneration amounts to £61,655. Employers pension contributions attributable to them are £4,802.

12. Trustees' remuneration and expenses

During the year, no Trustees received any remuneration or other benefits (2022 - £NIL) .

During the year ended 31 March 2023, no Trustee expenses have been incurred (2022 - £NIL) .

Page 26

THE KING'S CHURCH MID-SUSSEX

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

13. Tangible fixed assets

Group

Cost or valuation
At 1 April 2022
Additions
Disposals
At 31 March 2023
Depreciation
At 1 April 2022
Charge for the year
On disposals
At 31 March 2023
Net book value
At 31 March 2023
At 31 March 2022		 Freehold
property
£
3,881,956
-
-
3,881,956
686,391
77,636
-
764,027
3,117,929
3,195,565		 Audio
visual
equipment
£
63,724
462
-
64,186
58,576
5,157
-
63,733
453
5,148		 Furniture
and
equipment
£
165,061
1,063
-
166,124
154,623
6,092
-
160,715
5,409
10,438		 Computer
equipment
£
21,705
587
(4,168)
18,124
13,063
4,312
(4,168)
13,207
4,917
8,642		 Other fixed
assets
£
95,130
-
-
95,130
95,130
-
-
95,130
-
-		 Total
£
4,227,576
2,112
(4,168)
4,225,520
1,007,783
93,197
(4,168)
1,096,812
3,128,708
3,219,793

Page 27

THE KING'S CHURCH MID-SUSSEX

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

13. Tangible fixed assets (continued)

Company

Cost or valuation
At 1 April 2022
Additions
Disposals
At 31 March 2023
Depreciation
At 1 April 2022
Charge for the year
On disposals
At 31 March 2023
Net book value
At 31 March 2023
At 31 March 2022		 Freehold
property
£
3,881,956
-
-
3,881,956
686,391
77,636
-
764,027
3,117,929
3,195,565		 Audio
visual
equipment
£
63,724
462
-
64,186
58,576
5,157
-
63,733
453
5,148		 Furniture
and
equipment
£
139,569
633
-
140,202
130,017
5,470
-
135,487
4,715
9,552		 Computer
equipment
£
20,622
587
(4,168)
17,041
12,141
4,260
(4,168)
12,233
4,808
8,481		 Other fixed
assets
£
95,130
-
-
95,130
95,130
-
-
95,130
-
-		 Total
£
4,201,001
1,682
(4,168)
4,198,515
982,255
92,523
(4,168)
1,070,610
3,127,905
3,218,746

Page 28

THE KING'S CHURCH MID-SUSSEX

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

14. Fixed asset investments

Company
Cost or valuation
At 1 April 2022
At 31 March 2023
Net book value
At 31 March 2023
At 31 March 2022		 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 224,078 196,468 27,610 (5,080)

Page 29

THE KING'S CHURCH MID-SUSSEX

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

15. Stocks

Group Group
2023 2022
£ £
Finished goods and goods for resale 2,640 2,100

16. Debtors

Due within one year
Trade debtors
Amounts owed by group undertakings
Other debtors
Prepayments and accrued income
Tax recoverable		 Group
2023
£
19,181
-
11,583
2,179
22,629
55,572		 Group
2022
£
16,262
-
9,422
5,780
17,776
49,240		 Company
2023
£
3,950
30,857
20,513
2,179
22,629
80,128		 Company
2022
£
3,950
127,883
16,996
5,780
17,776
172,385

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 contributions due
Other creditors
Accruals and deferred income		 Group
2023
£
2,077
46,535
10,000
4,672
9
13,844
3,880
2,849
13,142
97,008		 Group
2022
£
2,852
54,239
10,000
3,847
20
9,647
2,443
4,263
10,354
97,665		 Company
2023
£
2,077
46,535
10,000
-
9
9,424
3,880
2,859
11,077
85,861		 Company
2022
£
2,852
54,239
10,000
-
20
9,647
2,443
4,263
7,854
91,318

Page 30

THE KING'S CHURCH MID-SUSSEX

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

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

Group
2023
£
Bank loans
1,085,022
Included within the above are amounts falling due as follows:
Group
2023
£
Between one and two years
Bank loans
50,027
Between two and five years
Bank loans
174,289
Over five years
Bank loans
860,706		 Group
2022
£
1,129,768
Group
2022
£
55,044
183,192
891,532		 Company
2023
£
1,085,022
Company
2023
£
50,027
174,289
860,706		 Company
2022
£
1,129,768
Company
2022
£
55,044
183,192
891,532

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
2023
£
835,369
835,369		 Group
2022
£
891,532
891,532		 Company
2023
£
-
-		 Company
2022
£
891,532
891,532

The bank loans amounting to £1,131,557 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
2023 2022 2023 2022
£ £ £ £
Financial assets
Financial assets measured at fair value
through income and expenditure 178,171 182,208 151,178 88,740

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

Page 31

THE KING'S CHURCH MID-SUSSEX

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

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
King's Auto Repairs fund
Barnabas fund
Mission fund
Directed gifts fund
Total of funds		 Balance at 1
April 2022
£
1,651,010
44,958
15,000
1,710,968
528,055
10
(32,701)
495,364
2,206,332
19,360
15
77
124
19,576
2,225,908		 Income
£
-
-
-
-
716,892
-
224,078
940,970
940,970
8,560
-
318
20,354
29,232
970,202		 Expenditure
£
(71,806)
(20,055)
-
(91,861)
(749,065)
-
(145,168)
(894,233)
(986,094)
(15,859)
-
(350)
(10,746)
(26,955)
(1,013,049)		 Transfers
in/out
£
-
-
(170)
(170)
51,470
-
(51,300)
170
-
-
-
-
-
-
-		 Balance at
31 March
2023
£
1,579,204
24,903
14,830
1,618,937
547,352
10
(5,091)
542,271
2,161,208
12,061
15
45
9,732
21,853
2,183,061

Page 32

THE KING'S CHURCH MID-SUSSEX

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

20. Statement of funds (continued)

Statement of funds - prior 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 2020
£
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)
(652,575)
-
(103,030)
(755,605)
(853,681)
-
(10,561)
-
(10,561)
(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
2021
£
1,651,009
44,959
15,000
1,710,968
528,056
10
(32,702)
495,364
2,206,332
203
19,358
15
19,576
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 2023

21. Summary of funds

Summary of funds - current year


Designated funds
General funds
Restricted funds		 Balance at 1
April 2022
£
1,710,968
495,364
19,576
2,225,908		 Income
£
-
940,970
29,232
970,202		 Expenditure
£
(91,861)
(894,233)
(26,955)
(1,013,049)		 Transfers
in/out
£
(170)
170
-
-		 Balance at
31 March
2023
£
1,618,937
542,271
21,853
2,183,061

Summary of funds - prior year

Designated
funds
General funds
Restricted funds		 Balance at
1 April 2020
£
1,798,115
447,120
13,860
2,259,095		 Income
£
4,000
815,246
11,277
830,523		 Expenditure
£
(98,076)
(755,605)
(10,561)
(864,242)		 Transfers
in/out
£
6,929
(11,929)
5,000
-		 Gains/
(Losses)
£
-
532
-
532		 Balance at
31 March
2022
£
1,710,968
495,364
19,576
2,225,908

22. Analysis of net assets between funds

Analysis of net assets between funds - current year

Unrestricted
funds
2023
£
Tangible fixed assets
3,128,708
Current assets
214,530
Creditors due within one year
(97,008)
Creditors due in more than one year
(1,085,022)
Total
2,161,208		 Restricted
funds
2023
£
-
21,853
-
-
21,853		 Total
funds
2023
£
3,128,708
236,383
(97,008)
(1,085,022)
2,183,061

Page 34

THE KING'S CHURCH MID-SUSSEX

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

22. Analysis of net assets between funds (continued)

Analysis of net assets between funds - prior year
Tangible fixed assets
Current assets
Creditors due within one year
Creditors due in more than one year
Total		 Unrestricted
funds
2022
£
3,219,793
213,971
(97,665)
(1,129,768)
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

23. Reconciliation of net movement in funds to net cash flow from operating activities

Net expenditure for the year (as per Statement of Financial Activities)
Adjustments for:
Depreciation charges
Profit on the sale of fixed assets
Increase in stocks
Decrease/(increase) in debtors
Increase/(decrease) in creditors
Net cash provided by operating activities
24.
Analysis of cash and cash equivalents
Cash in hand
Total cash and cash equivalents		 Group
2023
£
(42,847)
93,197
-
(540)
(6,332)
7,046
50,524
Group
2023
£
178,171
178,171		 Group
2022
£
(33,719)
95,357
532
(539)
1,283
(8,021)
54,893
Group
2022
£
182,209
182,209

Page 35

THE KING'S CHURCH MID-SUSSEX

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

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
2022
£
182,208
(2,852)
(66,682)
(1,129,768)
(1,017,094)		 Cash flows
£
(4,037)
775
6,267
44,746
47,751		 At 31 March
2023
£
178,171
(2,077)
(60,415)
(1,085,022)
(969,343)

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 £29,909 (2022 - £30,027). Contributions totalling £3,880 (2022 - £2,443) 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 £59,564 (2022 - £9,096) and income of £Nil (2022 - £Nil) was collected. At the year end the amount owed from SeeKenya was £9 (2022 - £20). During the year no donations were made to SeeKenya (2022 - £Nil).

28. Post balance sheet events

Since the year end the charity has received a legacy amounting to £108,328 which the trustees intend to use for the charity's long term benefit.

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