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← The King's Church Mid-Sussex

2025-03-31-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 2025

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 - 38

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 2025

Trustees

C Upton P T Wright C R Jones (resigned 31 March 2025) M Dennis-Smith D Kunnath

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 2025

The Trustees present their annual report together with the audited financial statements of the Company for the year 1 April 2024 to 31 March 2025. 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

It is difficult to review the last 12 months in the life of The King’s Church Mid-Sussex without reflecting on some of the difficulties that we have faced. Without doubt, the last year has brought trials of many kinds. However, our church is full of committed, resilient and faithful people who help to carry each and every load, and support one another through each season.

In December 2024, one of our staff team members, and an elder of the church (Steve Cornford), sadly lost his wife after an 18-month illness with cancer. It was obviously devastating for the family, a number of whom are part of the church, as well as for the staff team and church more broadly. Tragic events like these are significant in a community like ours and we have all felt the impact of it this year.

Kieran Dunne, also on the staff team, took a three-month sabbatical and returned in a different role. Kieran lay down his eldership responsibilities and went part-time, focusing all his energies as an evangelist on the team. Sadly, however, Kieran was involved in a serious car accident in December, which resulted in him being left unconscious and with some broken bones. His recovery from this incident is ongoing.

There were other changes on the staff team. After 18 months in the role, Victoria Asterley resigned from her role as the King’s Debt Advice Centre Manager to return to full-time employment. At the time of writing this report, we have not yet replaced Victoria and this does raise some question marks about the long-term future of the Centre.

Page 2

THE KING'S CHURCH MID-SUSSEX

(A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

Achievements and performance (continued)

Review of activities (continued)

Our Worship Team Leader, Dan Lank, also stepped off the staff team to pursue his own business on a full-time basis. Dan has served our church brilliantly in this role for many years, and is missed. However, we are grateful that God has provided a skilled and experienced replacement in Grace Surtie who has joined the staff team with extensive experience of leading worship teams in a multi-site setting.

We also said goodbye to Carl Jones who had served as Trustee superbly but stood down as a result of moving out of the area. It was necessary, therefore, to strengthen certain areas of church life. This has resulted in us appointing a new Trustee – Daniellia Kunnath. We have also added a bi-vocational elder to the eldership team – Arif Mohamed. Both Daniellia and Arif have been excellent additions and strengthened the respective teams.

We have set a goal to strengthen our mid-week life groups, offering better support for the leaders and a clearer process for how new groups can begin or existing groups multiply. We are committed to seeing more people engage in real community in smaller settings and are making good progress towards this goal, seeing an increase in the number of groups available and those in attendance.

Our financial situation continues to be tight. We have taken active steps this year to pay off one of the two mortgages that we have. We have done this through seeking investment into our other property in Burgess Hill, which is currently being used as a house in partnership with Hope Into Action Mid-Sussex.

By seeking investment in the property, we’ll be able to pay of one of our mortgages of approximately £350,000 saving almost £50,000 per year in mortgage repayments. This should be completed by the summer of 2025. This will make a significant difference.

We are also grateful that a legacy gift of some £50,000 has been pledged to the church which is an incredibly generous act that will go some way to boosting our cash reserves.

We have also benefitted from a significant grant that has been awarded to us that enabled us to upgrade every light fitting in The King’s Centre to LED, which will have a long-term financial saving as well as environmental benefits.

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 a changing climate regarding volunteering is making some of these ministries hard to sustain.

We were, one again, involved 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 several 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.

Fundraising activities and income generation

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.

Page 3

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

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

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.

Reserves policy

The Trustees have reviewed the level of reserves held. At the year end this totalled £2,025,263 (2024 - £2,113,005) of unrestricted reserves which included £1,435,592 (2024 - £1,507,398) which has been designated by the Trustees to represent a building fund, £6,449 (2024 - £12,049) has been designated to a social action fund, £14,830 (2024 - £14,830) for a multiplication fund to support future growth and a sustainability fund of £3,356 (2024 - £5,000). 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 £190,000. 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 2025

Plans for future periods

We have enjoyed some growth in our Sunday attendance and there seems to be an increasing openness with people regarding faith. One of our priorities in the next 12 months will be to establish how and where we can launch an evening service. We want to create more opportunities for people to connect and gather and are actively seeking the right solution for this.

We anticipate that Angie Bee’s role will change in the next few months, reducing her hours and focusing her energies on mid-week family outreach. This will require us to recruit a new staff member on a PT basis to oversee our Sunday “King’s Kids” programme.

We will also be launching a key teaching series in the Autumn 2025 on the subject of racial and ethnic reconciliation. This has been shaped by some intentional consultations and conversations in the church in recent months. We are becoming an increasingly diverse community, but we recognize that there can be challenge with this and we want to be intentional as we seek to build a united and diverse church.

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.

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 year. Under company law, the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the 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.

Page 5

THE KING'S CHURCH MID-SUSSEX

(A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

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 23 December 2025 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 2025 which comprise the Consolidated statement of financial activities, the Consolidated balance sheet, the Company balance sheet, the Consolidated statement of cash flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

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

Conclusions relating to going concern

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

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

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

Page 7

THE KING'S CHURCH MID-SUSSEX

(A company limited by guarantee)

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

Other information

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

We have nothing to report in this regard.

Matters on which we are required to report by exception

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

Responsibilities of trustees

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

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

Page 8

THE KING'S CHURCH MID-SUSSEX

(A company limited by guarantee)

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

Auditors' responsibilities for the audit of the financial statements

We have been appointed as auditor under section 152 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 23 December 2025

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 2025

Note
Income from:
Donations and legacies
3
Charitable activities
4
Other trading activities
5
Investments
6
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
2025
£
617,644
48,180
240,333
790
906,947
169,709
831,687
1,001,396
(94,449)
-
(94,449)
2,113,189
(94,449)
2,018,740		 Restricted
funds
2025
£
61,319
-
-
-
61,319
-
51,128
51,128
10,191
-
10,191
14,752
10,191
24,943		 Total
funds
2025
£
678,963
48,180
240,333
790
968,266
169,709
882,815
1,052,524
(84,258)
-
(84,258)
2,127,941
(84,258)
2,043,683		 Total
funds
2024
£
772,833
46,853
256,971
1,893
1,078,550
181,380
952,550
1,133,930
(55,380)
260
(55,120)
2,183,061
(55,120)
2,127,941

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

The notes on pages 17 to 38 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 2025

Note
Fixed assets
Tangible assets
13
Current assets
Stocks
15
Debtors
16
Cash at bank and in hand
Current liabilities
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		 2,760
83,235
68,936
154,931
(130,476)		 2025
£
3,003,746
24,455
3,028,201
(984,518)
2,043,683
24,943
2,018,740
2,043,683		 3,920
66,854
138,439
209,213
(124,101)		 2024
£
3,082,392
85,112
3,167,504
(1,039,563)
2,127,941
14,752
2,113,189
2,127,941

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 152 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 2025

The financial statements were approved and authorised for issue by the Trustees on 23 December 2025 and signed on their behalf by:

P T Wright

The notes on pages 17 to 38 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 2025

Note
Fixed assets
Tangible assets
13
Investments
14
Current assets
Debtors
16
Cash at bank and in hand
Current liabilities
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		 78,758
57,790
136,548
(109,442)		 2025
£
3,003,460
10
3,003,470
27,106
3,030,576
(984,518)
2,046,058
18,420
2,027,638
2,046,058		 79,841
116,749
196,590
(114,880)		 2024
£
3,081,683
10
3,081,693
81,710
3,163,403
(1,039,563)
2,123,840
14,752
2,109,088
2,123,840

The Company's net movement in funds for the year was £ (77,782) (2024 - £(64,311)) .

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 152 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 2025

The financial statements were approved and authorised for issue by the Trustees on 23 December 2025 and signed on their behalf by:

P T Wright

The notes on pages 17 to 38 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 2025

Cash flows from operating activities
Net cash used in operating activities
Cash flows from investing activities
Proceeds from the sale of tangible assets
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
The notes on pages 17 to 38 form part of these financial statements		 2025
£
(11,573)
-
(9,481)
(9,481)
(48,449)
(48,449)
(69,503)
138,439
68,936		 2024
£
46,488
260
(41,990)
(41,730)
(44,490)
(44,490)
(39,732)
178,171
138,439

Page 16

THE KING'S CHURCH MID-SUSSEX

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

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.

The recognition of income from legacies is dependent on establishing entitlement, the probability of receipt and the ability to estimate with sufficient accuracy the amount receivable. Evidence of entitlement to a legacy exists when the Company has sufficient evidence that a gift has been left to them (through knowledge of the existence of a valid will and the death of the benefactor) and the executor is satisfied that the property in question will not be required to satisfy claims in the estate. Receipt of a legacy must be recognised when it is probable that it will be received and the fair value of the amount receivable, which will generally be the expected cash amount to be distributed to the Company, can be reliably measured.

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 investment income is recognised at the time the investment income is receivable.

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.

Page 17

THE KING'S CHURCH MID-SUSSEX

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

2. Accounting policies (continued)

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.

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.

All 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.

Page 18

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

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

2. Accounting policies (continued)

2.6 Tangible fixed assets and depreciation (continued)

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 - Fixtures and fittings 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.

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.

Page 19

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

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

2. Accounting policies (continued)

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.

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 2025

3. Income from donations and legacies

Unrestricted
funds
2025
£
Donations
604,782
Legacies
-
Grants
-
Similar incoming resources
12,862
617,644
Unrestricted
funds
2024
£
Donations
596,759
Legacies
108,003
Similar incoming resources
40,419
745,181		 Restricted
funds
2025
£
16,292
-
39,138
5,889
61,319
Restricted
funds
2024
£
17,619
-
10,033
27,652		 Total
funds
2025
£
621,074
-
39,138
18,751
678,963
Total
funds
2024
£
614,378
108,003
50,452
772,833

4. Income from charitable activities

Unrestricted
funds
2025
£
Rental income
48,180
Unrestricted
funds
2024
£
Rental income
46,853		 Total
funds
2025
£
48,180
Total
funds
2024
£
46,853

Page 21

THE KING'S CHURCH MID-SUSSEX

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

5. Income from other trading activities

Income from non charitable trading activities

Unrestricted
funds
2025
£
Rental income and cafe sales
240,333
Unrestricted
funds
2024
£
Rental income and cafe sales
256,971		 Total
funds
2025
£
240,333
Total
funds
2024
£
256,971

6. Investment income

Unrestricted
funds
2025
£
Investment income - local cash
790
Unrestricted
funds
2024
£
Investment income - local cash
1,893
7.
Analysis of grants
Grants to
Institutions
2025
£
Grants
33,983		 Total
funds
2025
£
790
Total
funds
2024
£
1,893
Total
funds
2025
£
33,983

Page 22

THE KING'S CHURCH MID-SUSSEX

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

7. Analysis of grants (continued)

Grants to Total
Institutions funds
2024 2024
£ £
Grants 65,870 65,870

8. Analysis of expenditure on charitable activities Summary by fund type

Unrestricted
funds
2025
£
Direct costs of charitable activities
831,687
Unrestricted
funds
2024
£
Direct costs of charitable activities
912,795		 Restricted
funds
2025
£
51,128
Restricted
funds
2024
£
39,755		 Total
2025
£
882,815
Total
2024
£
952,550

9. Analysis of expenditure by activities

Activities Grant
undertaken funding of Support Total
directly activities costs funds
2025 2025 2025 2025
£ £ £ £
Charitable activity costs 728,732 33,983 120,100 882,815

Page 23

THE KING'S CHURCH MID-SUSSEX

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

9. Analysis of expenditure by activities (continued)

Charitable activity costs
Analysis of direct costs
Staff costs
Depreciation
Property running costs
Conferences and training
Restricted expenditure
Motor expenses
Outreach
Hospitality
Staff expenses
Youth work
Advertising and marketing
Conference running costs
Repairs and maintenance
Debt Advice Centre		 Activities
undertaken
directly
2024
£
767,706		 Grant
funding of
activities
2024
£
65,870		 Support
costs
2024
£
118,974
Activities
2025
£
467,461
87,704
64,659
2,886
18,513
979
7,966
19,669
6,232
4,966
7,521
147
32,615
7,414
728,732		 Total
funds
2024
£
952,550
Total
funds
2025
£
467,461
87,704
64,659
2,886
18,513
979
7,966
19,669
6,232
4,966
7,521
147
32,615
7,414
728,732

Page 24

THE KING'S CHURCH MID-SUSSEX

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

9. Analysis of expenditure by activities (continued)

Analysis of direct costs (continued)

Staff costs
Depreciation
Property running costs
Conferences and training
Repairs and equipment
Book and CDs
Restricted expenditure
Motor expenses
Outreach
Hospitality
Staff expenses
Youth work
Advertising and marketing
Conference running costs
Recruitment costs
Legal and professional fees
Debt Advice Centre		 Activities
2024
£
463,426
87,698
84,108
23,538
1,251
229
39,755
1,188
12,100
2,254
6,163
5,088
6,478
11,330
2,980
7,146
12,974
767,706		 Total
funds
2024
£
463,426
87,698
84,108
23,538
1,251
229
39,755
1,188
12,100
2,254
6,163
5,088
6,478
11,330
2,980
7,146
12,974
767,706

Analysis of support costs

Finance costs
Small capital purchases
Sundry expenses
Telephone
Printing, post and stationery
Insurance
Bank charges
Governance costs		 Activities
2025
£
85,239
252
10,130
9,549
6,908
2,503
1,669
3,850
120,100		 Total
funds
2025
£
85,239
252
10,130
9,549
6,908
2,503
1,669
3,850
120,100

Page 25

THE KING'S CHURCH MID-SUSSEX

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

9. Analysis of expenditure by activities (continued)

Analysis of support costs (continued)

Finance costs
Sundry expenses
Telephone
Printing, post and stationery
Insurance
Bank charges
Governance costs
10.
Auditors' remuneration
Fees payable to the Company's auditor for the audit of the Company's
annual accounts
11.
Staff costs
Group
Group
2025
2024
£
£
Wages and salaries
486,049
492,340
Social security costs
37,067
37,260
Contribution to defined contribution pension
schemes
37,106
37,792
560,222
567,392		 Activities
2024
£
88,696
7,986
9,579
5,061
2,297
1,605
3,750
118,974
2025
£
5,250
Company
2025
£
403,798
32,138
31,525
467,461		 Total
funds
2024
£
88,696
7,986
9,579
5,061
2,297
1,605
3,750
118,974
2024
£
5,000
Company
2024
£
399,350
32,166
31,910
463,426

Page 26

THE KING'S CHURCH MID-SUSSEX

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

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
2025
No.
17
6
23		 Group
2024
No.
17
6
23		 Company
2025
No.
17
-
17		 Company
2024
No.
17
-
17

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

Group Group
2025 2024
No. No.
In the band £60,001 - £70,000 1 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 £64,720 (2024 - £63,899). Employers pension contributions attributable to them are £5,593 (2024 - £5,504).

12. Trustees' remuneration and expenses

During the year, no Trustees received any remuneration or other benefits (2024 - £NIL) .

During the year ended 31 March 2025, no Trustee expenses have been incurred (2024 - £NIL) .

13. Tangible fixed assets

Group

Cost or valuation
At 1 April 2024
Additions
At 31 March 2025		 Freehold
property
£
3,911,909
5,794
3,917,703		 Audio
visual
equipment
£
66,263
514
66,777		 Furniture
and
equipment
£
165,807
336
166,143		 Computer
equipment
£
25,506
2,837
28,343		 Other fixed
assets
£
95,129
-
95,129		 Total
£
4,264,614
9,481
4,274,095

Page 27

THE KING'S CHURCH MID-SUSSEX

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

13. Tangible fixed assets (continued)

Group (continued)

Depreciation
At 1 April 2024
Charge for the year
At 31 March 2025
Net book value
At 31 March 2025
At 31 March 2024
Company
Cost or valuation
At 1 April 2024
Additions
At 31 March 2025
Depreciation
At 1 April 2024
Charge for the year
At 31 March 2025
Net book value
At 31 March 2025
At 31 March 2024		 Freehold
property
£
842,262
78,350
920,612
2,997,091
3,069,647
Freehold
property
£
3,911,909
5,794
3,917,703
842,262
78,350
920,612
2,997,091
3,069,647		 Audio
visual
equipment
£
64,724
1,018
65,742
1,035
1,539
Audio
visual
equipment
£
66,263
514
66,777
64,724
1,018
65,742
1,035
1,539		 Furniture
and
equipment
£
162,320
2,646
164,966
1,177
3,487
Furniture
and
equipment
£
138,681
336
139,017
135,873
2,253
138,126
891
2,808		 Computer
equipment
£
17,786
6,114
23,900
4,443
7,720
Computer
equipment
£
25,298
2,837
28,135
17,608
6,084
23,692
4,443
7,690		 Other fixed
assets
£
95,129
-
95,129
-
-
Other fixed
assets
£
95,129
-
95,129
95,129
-
95,129
-
-		 Total
£
1,182,221
88,128
1,270,349
3,003,746
3,082,393
Total
£
4,237,280
9,481
4,246,761
1,155,596
87,705
1,243,301
3,003,460
3,081,684

Page 28

THE KING'S CHURCH MID-SUSSEX

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

14. Fixed asset investments

Company
Cost or valuation
At 1 April 2024
At 31 March 2025
Net book value
At 31 March 2025
At 31 March 2024		 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 240,626 242,729 (2,103) 2,008

Page 29

THE KING'S CHURCH MID-SUSSEX

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

15. Stocks

Group Group
2025 2024
£ £
Finished goods and goods for resale 2,760 3,920

16. Debtors

Due within one year
Trade debtors
Amounts owed by group undertakings
Amounts owed by SeeKenya
Other debtors
Prepayments and accrued income
Tax recoverable		 Group
2025
£
10,457
-
922
10,666
3,816
57,374
83,235		 Group
2024
£
20,569
-
1,056
12,517
4,670
28,042
66,854		 Company
2025
£
1,370
4,697
922
10,579
3,816
57,374
78,758		 Company
2024
£
12,450
21,193
1,056
12,430
4,670
28,042
79,841

Page 30

THE KING'S CHURCH MID-SUSSEX

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

17. Creditors: Amounts falling due within one year

Bank overdrafts
Bank loans
Other loans
Trade creditors
Other taxation and social security
Pension contributions due
Other creditors
Accruals and deferred income		 Group
2025
£
4,364
54,100
10,000
11,797
21,670
4,014
3,709
20,822
130,476		 Group
2024
£
2,517
47,504
10,000
6,943
22,115
4,371
8,229
22,422
124,101		 Company
2025
£
4,364
54,100
10,000
7,965
9,137
4,014
1,040
18,822
109,442		 Company
2024
£
2,517
47,504
10,000
3,533
9,626
4,371
15,907
21,422
114,880

The charity has two bank loans, which are presented as combined totals in this note and aged in accordance with their contractual repayment terms.

One loan, with a carrying amount of £355,722 at 31 March 2025, was originally repayable in November 2037 but was repaid in full in July 2025, shortly after the financial year-end. This repayment represents a non-adjusting subsequent event.

The remaining loan had a carrying amount of £682,896 at 31 March 2025 and continues to be repayable in accordance with its original contractual terms.

The increase in the current portion of loans during the year relates to the loan repaid after the reporting date.

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

Group Group Company Company
2025 2024 2025 2024
£ £ £ £
Bank loans 984,518 1,039,563 984,518 1,039,563

Included within the above are amounts falling due as follows:

Between one and two years
Bank loans
Between two and five years
Bank loans
Over five years		 Group
2025
£
58,193
202,824		 Group
2024
£
50,136
182,296		 Company
2025
£
58,193
202,824		 Company
2024
£
50,136
182,296

Page 31

THE KING'S CHURCH MID-SUSSEX

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

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

Group Group Company Company
2025 2024 2025 2024
£ £ £ £
Bank loans 723,501 807,131 723,501 807,131

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
2025
£
723,501
723,501		 Group
2024
£
807,131
807,131		 Company
2025
£
723,501
723,501		 Company
2024
£
807,131
807,131

The bank loans amounting to £1,038,618 at the year end are secured on the freehold properties of the charity at 33-35 Victoria Road, Burgess Hill and 12 Mill Road, Burgess Hill.

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

As disclosed in note 17 above, subsequent to the reporting date the charity opted to settle one of the loans early and repaid it in full in July 2025 from the proceeds of sale of a portion of the property 12 Mill Road, which is no longer security for any mortgage loan.

19. Financial instruments

Group Group Company Company
2025 2024 2025 2024
£ £ £ £
Financial assets
Financial assets measured at fair value
through income and expenditure 68,936 138,439 57,790 116,749

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 2025

20. Statement of funds

Statement of funds - current year

Balance at 1
April 2024
£
Unrestricted funds
Designated funds
Building fund
1,507,398
Social Action Fund (LYN)
12,049
Multiplication fund
14,830
Sustainability fund
5,000
1,539,277
General funds
General fund
569,811
Reserves
4,101
573,912
Total Unrestricted funds
2,113,189
Restricted funds
King's Auto Repairs Fund
11,514
Barnabas fund
15
Clothes Swap Fund
243
Replacement lighting fund
-
Directed gifts fund
2,980
14,752
Total of funds
2,127,941		 Income
£
Expenditure
£
-
(71,806)
90
(5,690)
-
-
80
(1,724)
170
(79,220)
666,444
(752,467)
240,333
(169,709)
906,777
(922,176)
906,947
(1,001,396)
5,035
(11,774)
-
-
854
(590)
39,138
(32,615)
16,292
(6,149)
61,319
(51,128)
968,266
(1,052,524)		 Balance at
31 March
2025
£
1,435,592
6,449
14,830
3,356
1,460,227
483,788
74,725
558,513
2,018,740
4,775
15
507
6,523
13,123
24,943
2,043,683

Page 33

THE KING'S CHURCH MID-SUSSEX

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

20. Statement of funds (continued)

Statement of funds - prior year

Unrestricted
funds
Designated
funds
Building fund
Social Action
fund (LYN)
Multiplication
fund
Sustainability
fund
General funds
General fund
Reserves
Total
Unrestricted
funds
Restricted
funds
King's Auto
Repairs Fund
Barnabas fund
Clothes swap
fund
Directed gifts
fund		 Balance at
1 April 2023
£
1,579,204
24,903
14,830
-
1,618,937
547,546
(5,092)
542,454
2,161,391
12,062
15
45
9,733
21,855		 Income
£
-
120
-
-
120
793,622
256,971
1,050,593
1,050,713
8,536
-
1,497
17,619
27,652		 Expenditure
£
(71,806)
(12,974)
-
-
(84,780)
(761,615)
(247,780)
(1,009,395)
(1,094,175)
(14,084)
-
(1,299)
(24,372)
(39,755)		 Transfers
in/out
£
-
-
-
5,000
5,000
(10,000)
-
(10,000)
(5,000)
5,000
-
-
-
5,000		 Gains/
(Losses)
£
-
-
-
-
-
260
-
260
260
-
-
-
-
-		 Balance at
31 March
2024
£
1,507,398
12,049
14,830
5,000
1,539,277
569,813
4,099
573,912
2,113,189
11,514
15
243
2,980
14,752

Page 34

THE KING'S CHURCH MID-SUSSEX

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

20. Statement of funds (continued)

Total of funds 2,183,246 1,078,365 (1,133,930) - 260 2,127,941

21. Summary of funds

Summary of funds - current year

Balance at 1
April 2024
£
Designated funds
1,539,277
General funds
573,912
Restricted funds
14,752
2,127,941		 Income
£
Expenditure
£
170
(79,220)
906,777
(922,176)
61,319
(51,128)
968,266
(1,052,524)		 Balance at
31 March
2025
£
1,460,227
558,513
24,943
2,043,683

Summary of funds - prior year

Designated
funds
General funds
Restricted funds		 Balance at
1 April 2023
£
1,618,937
542,454
21,855
2,183,246		 Income
£
120
1,050,593
27,652
1,078,365		 Expenditure
£
(84,780)
(1,009,395)
(39,755)
(1,133,930)		 Transfers
in/out
£
5,000
(10,000)
5,000
-		 Gains/
(Losses)
£
-
260
-
260		 Balance at
31 March
2024
£
1,539,277
573,912
14,752
2,127,941

Page 35

THE KING'S CHURCH MID-SUSSEX

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

22. Analysis of net assets between funds

Analysis of net assets between funds - current year

Unrestricted
funds
2025
Restricted
funds
2025
£
£
Tangible fixed assets
3,003,746
-
Current assets
129,988
24,943
Creditors due within one year
(130,476)
-
Creditors due in more than one year
(984,518)
-
Total
2,018,740
24,943
Analysis of net assets between funds - prior year
Unrestricted
funds
2024
Restricted
funds
2024
£
£
Tangible fixed assets
3,082,392
-
Current assets
194,461
14,752
Creditors due within one year
(124,101)
-
Creditors due in more than one year
(1,039,563)
-
Total
2,113,189
14,752
23.
Reconciliation of net movement in funds to net cash flow from operating activities
Group
2025
£
Net expenditure for the year (as per Statement of Financial Activities)
(84,258)
Adjustments for:
Depreciation charges
88,128
Decrease/(increase) in stocks
1,160
Increase in debtors
(16,381)
Increase/(decrease) in creditors
(222)
Net cash provided by/(used in) operating activities
(11,573)		 Total
funds
2025
£
3,003,746
154,931
(130,476)
(984,518)
2,043,683
Total
funds
2024
£
3,082,392
209,213
(124,101)
(1,039,563)
2,127,941
Group
2024
£
(55,380)
88,306
(1,280)
(11,282)
26,124
46,488

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THE KING'S CHURCH MID-SUSSEX

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

24. Analysis of cash and cash equivalents

Cash in hand
Total cash and cash equivalents		 Group
2025
£
68,936
68,936		 Group
2024
£
138,439
138,439

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
2024
£
138,439
(2,517)
(61,875)
(1,039,563)
(965,516)		 Cash flows
£
(69,503)
(1,847)
(6,239)
55,045
(22,544)		 At 31 March
2025
£
68,936
(4,364)
(68,114)
(984,518)
(988,060)

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 £37,285 (2024 - £37,792). Contributions totalling £4,014 (2024 - £4,371) 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 £27,878 (2024 - £7,240) and income of £238 (2024 - £Nil) was collected. At the year end the amount owed by SeeKenya was £922 (2024 - £1,056). During the year no donations were made to SeeKenya (2024 - £Nil).

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THE KING'S CHURCH MID-SUSSEX

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

28. Post balance sheet events

Subsequent to the financial year-end, the charity disposed of a significant portion of its property at 12 Mill Road, Burgess Hill through a trust arrangement involving a number of third-party investors.

The sales value of the property amounted to £480,000, of which £125,000 remains invested by the charity representing 26% of the property. The remaining investment was contributed by third-party investors after the reporting date.

The proceeds received from the third-party investors were applied to the repayment of one of the charity’s bank loans, which was settled in full in July 2025. As a result, following the reporting date, the property at 12 Mill Road is no longer subject to a mortgage charge and the outstanding bank loan is now secured solely on the charity’s freehold property at 33–35 Victoria Road, Burgess Hill.

This transaction represents a non-adjusting event after the reporting date and has not been reflected in the financial statements as at 31 March 2025.

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