2023-03-31-accounts - The Kingsborough Centre

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Trustees' annual report (incorporating				the	director's	report)
Independent	auditor's	report to	the members
Statement	offinancial	activities	(including		income and
expenditure	account)						20
Statement	offinancial	position					21
Statement	ofcash tiows						22
Notes to the financial		statements					23

		Y	ear end	ed 31 March	2023
					2023		2022
				Unrestricted	Restricted
				funds	funds	Total funds	Total funds
			Note		6	6
Income and endowments
Donations and legacies			4	238,938	4,862	243,800	226,015
Other trading activities			5	876,631		876,631	719,979
Investment income			6	386		366	48
Government grants income			21				25,317
Total income				1,115,935	4,862	1,120,797	971,359
Expenditure
Expenditure on raising funds:
Costs of raising donations			7	11,985		11,985	9,561
Costs ofother trading	activities		8	607,846	12,365	620,211	522,706
Expenditure on charitable	activities		9,11	318,143	3,532	321,676	288,334
Total expenditure				937,974	15,897	953,872	820,601
Net income and net movement		in	funds	177,961	(11,035)	166,925	150,758
Reconciliation offunds
Total funds brought forvrard				439,084	27,879		316,205
Total funds carried forward				817,045	16,844	633,889	466,963

	Year en	ded 31 March 2023
			2023	2022
				F
Cash flows from operating	activities
Net income			166,925	150,758
Adjustments for.
Depreciation oftangible fixed	assets		25,475	21,652
Government grant income				(25,317)
Other interest receivable and	similar income		(366)	(48)
Accrued expenses/(income)			6,362	(5,018)
Changesin:
Trade and other debtors			983	(7,567)
Trade and other creditors			(115)	(95,875)
Cash generated from operations			199,264	38,585
Interest received				48
Net cash from operating activities			199,630	38,833
Cash flows from investing	acttvithrs
Purchase oftangible assets			(19,283)	(2,835)
Net cash used in investing activities			(19,283)	(2,835)
Cash flows from financing	activities
Proceeds from borrowings			(60,406)	(71,591)
Proceeds from loans from group undertakings				(24,056)
Govemrnent grant income				25,317
Net cash used in financing activities			(60,406)	(70,330)
Net Increase/(decrease) In	cash and cash	equivalents	119,941	(34,532)
Cash and cash equivalents	at beginning	ofyear	1,124	35,658
Cash and cash equivalents	at end ofyear		121,065	1,124

					Unrestricted	Restricted	Total Funds
					Funds f	Funds f	2022
Donations
Donations	-	Thanksgiving			5,996		5,996
Donations	-	Tithes,	Qitedngs &Other Donation		174,454		174,454
Donations	-	Gift Aid			40,048		40,048
Donations	-	Building	Fund			5,479	5,479
Donations	-	Junior Church		Collection	38		38
					245,853	5,479	226,015

			Unrestricted	Total Funds	Unrestricted	Total Funds
			Funds f	2023 f	Funds F	2022 f
	CMC Nursery	Income	876,631	876,631	719,979	719,979
6.	Investment	income
			Unrestricted	Total Funds	Unrestricted	Total Funds
			Funds f	2023 f	Funds f	2022
	Bank interest	receivable	366	366	48	48
7.	Costs of raising donations		and legacies
			Unrestricted	Total Funds	Unrestricted	Total Funds
			Funds	2023 f	Funds F	2022 f
	Support costs (note 10)		11,985	11,985	9,561	9,561

Costs ofo	ther trading activities
		Unrestricted	Restricted	Total Funds
		Funds	Funds	2023
		5		E
Fundraising	trading —CMC nursery	536,315		536,315
Support costs (note 10)		71,531	12,365	&3,896
		607,846	12,365	620311
		Unrestricted	Restricted	Total Funds
		Funds	Funds	2022
		F
Fundraising	trading —CMC nursery	455,780		455,760
Support costs		54,561	12,365	66,926
		510,341	12,365	522,706

	Unrestricted	Restricted	Total Funds
	Funds	Funds	2023
	6	E
Direct charitable cost	285,565		285,565
Support costs (note 10)	20,438	3,532	23,970
	306,003	3,532	309,535
	Unrestricted	Restricted	Total Funds
	Funds	Funds	2022
	F	F
Direct charitable cost	254,776		254,776
Support costs	15,590	3,532	19,122
	270,366	3,532	273,898

Expenditure		on cha	ritable activities by ac	tivity type
						Cost of	Total
				Cost of		generating	Support
				charitable	Fund raising	voluntary	Cost
				activities	trading	Income	2023
				6
Bank fees				401	1,403	200	2,005
Cleaning				3,544	'I2,404	1,772	17,720
Depreciation		& Impairment		5,095	17,833	2,548	25,475
Insurance				2,694	9,428	1,347	13W9
ITsoftware	and consumables			224	782	112	1,117
Light, power,		heating		1,470	5,147	735	7,352
Motor vehide		expense		747	2,613	373	3,733
Motor vehide		hire		1,526	5,343	763	7,632
Pensions costs				2,105	7,368	1,053	10,526
Postage 8 courier				1	4	1	5
Printing 8 stationery				1,144	4,003	572	5,718
Repair 8 maintenance				2WO	7,770	1,110	11,100
Staff training				666	2,332	333	3.332
Subscription				1,060	3,711	530	5,302
Telephone	&	internet		1,073	3,755	536	5465
				23,970	83,896	11,985	119,852
Governance		costs
					Unrestricted	Total Funds	Total Funds
					Funds f	2023 6	2022
Accountancy		fees			5,462	5,462	4,520
Audit fess					2,700	2,700	2,700
Legal & professional			cost		3,979	3,979	7,217
					12,141	12,141	14,437
Nst Income
Net income	is stated		after charging/(crediting):
						2023	2022
						6
Depreciation		oftangible fixed assets				25,475	21,652
Auditors remuneration
						2023	2022
							F
Fees payabls		forthe	audit ofthe financial statements			2,700	2,700

			2023 f	2022
Wages and Salaries			570,675	517,212
Social security costs			38,512	35,917
Other pension costs			10,526	11,685
			619,713	564,814
			2023	2022
			No.	No.
The average Monthly	Number ofemployees	during the year	29	33

Tangible fixed assets
	Land and
	buildingsf	Equipmentf	Total
Cost
At 1 April 2022	2,523,401	149,585	2,672,986
Additions		19,283	19483
At 31March 2023	2,523,401	168,868	2,692469
Depreciation
At 1 April 2022	89,569	137,622	227,191
Charge for the year	17,664	7,811	25,475
At 31 March 2023	107,233	145,433	252,666
Canylng amount
At31March 2023	2,416,168	23,435	2,439,603
At 31 March 2022	2,433,832	11,963	2,445,795

17.	Debtors			Year ended 31 March 202	3
					2023	2022 f
	Trade debtors				8,037	2,753
	Other debtors					6467
					8,037	9,020
18.	Cash and cash equivalents
	Cash and cash equivalents			compnse the following:
					2023	2022
					6	F
	Cash at bank and	in hand			121,065	1,124
	Bank overdrafts
					121,065	1,124
19.	Creditors: amounts		falling	due within one year
					2023	2022
					6
	Bank loans and overdrafts				131,243	124,174
	Accruals and deferred		income		82,165	75,803
	Social security and	other taxes			29,698	20,943
	Other creditors				19,008	19,008
					262,114	239,928

				2023	2022
				8
Bank	loans	and	overdrafts	1,494,191	1,561,666
Other	Loans			178,511	187,382
				1,672,702	1,749,048

			2022
			6
Recognised	in income from donations	and legacies:
Government	grants income		25,317

Unrestricted		fu	nds
											At				At
										1	April 2022 f	Income 6		Expenditure 31	March 2023 6
General funds											439,084	1,115,935		(937,974)	617,045
											At				At
										1	April 2021	Income		Expenditure 31	March 2022
															F
General funds											277,908	965,880		(804,704)	439,084
Restricted funds
											At				At
										1	April 2022	Income E		Expenditure 31 f	March 2023 6
Restricted Fund			1 —building				fund				27,879	4,862		(15,897)	16,644
											At				At
										1	April 2021	Income		Expenditure 31	March 2022
											6
Restricted Fund			1 —building				fund				38,297	5,479		(15,897)	27,879
Restricted		fund		is	maintained			to build		up a reserve		to settle the		other operating	obligations
expected	to fall			due		In the ensuing			years. Charity			encourages	its members and		visitors to
contribute	to		this fund			by spedai appeals
Analysis of	changes				In	net	debt
										Unrestricted		Restricted		Total Funds	Total Funds
											Funds f	Funds 8		2023	2022 f
Tangible fixed		assets									2,422,759	16,844		2v439,603	2,445,795
Current assets											129,102			129,102	9,020
Creditors less		than		1	year						(262,114)			(262,114)	(239,928)
Creditors greater than					1	year					(1,672,703)			(1,672,703)	(1,749,047)
Net assets											817,045	16,844		633,889	466,963

Financial instruments	Financial instruments	Financial instruments	Financial instruments
The canying amount for each category offinancial				instrument	is as follows:
					2023
					6
Financial	assets measured		at fair value through	income and expenditure
Financial	assets measured		at fair value through income and
expenditure					121,065	1,124
Financial	liabilities	measured at fair value through Income			and expenditure
Financial	liabilities	measured	at fair value through	income and
expenditure					1,934,816	1,988,976

			Total Funds	Total Funds
			2023 f	2022 f
Donations
Donations —Thanksgiving			7,532	5,996
Donations	—Tithes		125,147	106,008
Donations	—Offerings		18/27	15,461
Donations	—Other Donation		23,687	50,295
Donations	—Grit Aid		54,447	40,048
Donations	—Building fund		4,862	5,479
Donations	—Junior Church Collection			38
Donations	—Hadassah		1,147	1,958
Donations —First Fruit				156
Donations	—Seed ofGratitude		475	33
Donations —Kingsmen			2,382	225
Donations —Welfare			595	320
Donations —Screen Project			5499
			243,800	226,015
Activities for Generating		Funds
			Total Funds	Total Funds
			2023	2022
CMC Nursery Income			876,631	719,979
			876,631	719,979
Investment Income
			Total Funds	Total Funds
			2023	2022
			6
Bank interest receivable			366	48
Government Grant Income
			Total Funds	Total Funds
			2023	2022
				6
Government	grant received			25,317
Total incoming	Resources		1,120,797	971,359

			Total Funds	Total Funds
			2023	2022
			6
	Rent
	Employment Cost		421401	368,682
	Nursery Misc Expense		17,521	12,669
	Interest Paid		97,593	74,429
			536,315	455,780
Cost	ofCharitable Activity
			Total Funds	Total Funds
			2023	2022
			6	F
	Charitable donation		26,098	19,898
	FOL &Out Reach		7418	2,415
	Hadassah Expenses			240
	Honorarium		6,700	5,530
	Hospitality &Retreat		5,783	1,876
	Hall hire for church services			3,604
	Music &Choir Expense		933	2,182
	Employment Cost		188,581	187,089
	Rent &Rates		1,408	2,133
	Consulting		2,691	2,600
	Travelling; International	& Local	24,066	10,044
	Advertising &Marketing		1,058	3,160
	Welfare Expense			312
	Miscellaneous (including	Interest)	21,028	13,692
			285,565	254,776

rnance Cost
	Total Funds	Total Funds
	2023	2022
	6	6
Accountancy fees	5,462	4,960
Audit fees	2,700	2,700
Legal fees	3,979	6,777
	12,141	14,437

ort Cost
				Total Funds	Total Funds
				2023	2022
				f	f
5IQQQQttg!ertL:
Light, Power,		Heating		7,352	6,414
Insurance				13,469	13,013
ITCost				'I,117	658
Printing, Stationery			and Postage	5,723	3,594
HP Interest
Bank Interest		and Charges		2,005	1,734
Motor Expenses				11,365	13,154
Repairs 8 Maintenance				11,100	9,272
Cleaning				1'7„720	2,154
Depreciation				25,475	21,652
Subscription				5,302	5,066
Telephone				5,365	5,150
Miscellaneous					360
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Pension Cost				10,526	11,685
S@tfTraining				3332	1,702
Recruitment	Expenses
				119,852	95,808
				953,872	820,601