King's Church Darlington (A company limited by guarantee) Report and Financial Statements For the Year ended 31 December 2023 Company Roglstration Number: 5670530 Charlty Number: 1113455
King's Church Darlington Financial Statements for the Year ended 31 December 2023 Contsnts Reference and Admlnistrative Information Dlrectors Report Independent Examinerfs Report to the Members Stslement of Financlal Activities Balance Sheet Cash Flows Notes fomiing part of the Finawal Statements 10 11 12 13 14-27
King's Church Darllngton R•forenc• and Admlnlstratlve Inforn)atlon Charity name: King's Church Dartington 5670530 Company reglstratlon number. Charlty rgglstratlon number. 1113455 R•gistarqd Offl¢• and oporatlonal addw•: The King's Centre Prospect Place INh8ssoe Road Darlington Co Durham DL3 OQT Directovs and Tru8tO08 of tho Charlty Mr M Coltman Mrs A Cooley Mr RP Davison Mr GJ Ken Ireslgn6d 31 May 20231 Mr JC Lambert {appolnted 26 November 2023) Mrs J Salt Mr MA Sow8rby Mr ST Ward (resigned 31 December 2023) L•ad•r8hlp Toam Chalr Mr M Coltman Mrs J Coltman Mr RP Davison Mrs M Davison Mr GJ Kennedy Mrs EA Kennedy Mr C Cooley Mrs A Cooley Mr PJ Hlllsdon Mrs S Hlllsdon Mr JC Lambort Le1 Elder Elder Elder (resigned 31 May 2023) (resigned 31 May 2023) Elder (appointed 26 November 2023) Mrs K Lambert Company Se¢rotary Mr MA Sowerby Ind•pendent Examln•r Abacus Bean, Level Q Offices, Surtees Business Park, Stockton-on-Tees TS18 3HR Bankers Unty Trust Bank, Nine Brindley Place, Blmiingham B12HB Solicitors Close Thcynton. 2 Duke Street, Darflngton DL3 7AB
King's Church Darllngton Dirgclor6' Report for the Y•ar •nd•d 31 DeGomber 2023 The Dir¥$ of the ¢harltsble company are its Trustees for the purpose of charlty law. and throughout the report are collectivety referred to as the Trustees. The Trustees present their report. together with the ind8pendently examined financi stslements for the year ended 31 December 2023. The Trustees cOnfin that th8 report and financial slalemenls of the charity have been prepared In accorilanc8 with the charity's goveming docUnt, the Companies Act 2006 and'Accounling and Re[lftg by Chariti95: Statement of Recommended Practice applicable to ch8riti8s preparing accounts in accordan with the Financhgl ReFXXting Stan¢Jard apFlicable in the UK and Republ of Ireland IFRS102) (effective 1 January 2019)" Stru¢ture, G0vemO and Manag•mont Gov4¥nin Do¢ument Klng's Church D¥lington is a company limited by guarantee and registered with the Charity Comml$sion {No.1113455). The company was Incorporated on 10 January 2(KJ6 and its govern1 do¢)Jmgnt is the Memorandum and Artlcles of As80cSatlon dated 24 November 2005. Re¢rultment and A intmenl of Board of Tru8te8s The Church Elders, who a responslble for the day lo day runnlng of the Church, appoint the Trugtees. The Board of Trustees serving during 2023 were: Mr M Coltman - Mithael has been involved in church leadership for over 15 year5, as a youth leader and, for the last 6 years, on the Eldership of a chh. Michael was pViouslY leading a church In Ontario Canada before taklng the lead elder role at King's Church 2021. Prior to church employment Michael was workirKJ In Quality Assurance for EE. He is also a qualffied ¢))unselk¢. Mrs A Cooley- An has been attending Kings Church sIre 201 S arKI has b8en involved wrth the children's work, part of the team worklng with the ladies of the churth, and is one of the ganisefs of the annual Kings Christmas Craft Market. Along with her husband. she has taken out teams lo Uganda from all over the UK. includiw from Kings Church. She is also a founder trustee of a charity working into Uganda. Anne was a sch¢x4 senior leathr and teacher of 40 years, experience and abo worked In Teather Training with York St John University. Mr RP Davlson - Paul was th8 Deputy Olreclor for Health Protection North East for Publrc Health England until his retirement In October 2019. He now has a national role working on environmental public heaith, sustainability and dimate change. H8 became an el(ier in June 2009 and his responsiblllties at King's Church include leading a worship band and preachinglleaching. Paul is Chair of Trustees. Mr GJ KgnTredy - Graham has been attending Klngs Church ¥ince 1998. and ha$ been irwolved in youth work, alpha courses and 1$ part of the worship team. He was made an Elder In 2019. Graham was employed as a lecturer al 8ishopAucaTrd College, where he had worked for over 20 yoars teaching hospitalty and e2teTing. From 1 June 2021 until 31* May 2023 Graham was amployed as a full-time elder. r JC Lambort- John ha5 been Invdved in mission and church leadership since 19 t%)th in Paris, France. and in the north easl of England. John and his wlfe, Kathie. who Is 2 hospic8 nurse, have four grown up Children. who now live in three dfferent countries. John like$ leaming languages, music, running and readlng. He Is a former Church of EThJland mirtrister and has been an elder at King's Chur¢h Darlington since Novemtser 2023.
King's Church Darflngton DIrtOrs. Roport tor the Year •nded 31 D•¢emb•r 2023 Structurg, Govemance Managemenl (eontlnu•d) rs J Salt - Jenny has been Involved at Klng's Church since 1998. During hw lime at Kin5 Church, $he has served as a Children's group leader and in the worship band. She has worked a5 a primary School teacher for almost 10 years and leads the music curriculum at her school. Mr MA Soworby- Mark h88 be8n a member of thè Chur¢h, and ts former Charlty since 1993 and has held poshlons as the church Accountant and Trustee during that pariod. He is Chartered Accountant and works as Group Flnance Director in an international Construclion Consultancy. Mr ST Ward- Steve has been a member of the church Sirte ils fonnation and has served in number of roles includlng preaching. small group leadership and as head of muslc. He became an elder of the thurch In October 2019. He is an experienced IT manager and BUS1rSS Consultant. Now retired from full-tim& employment, he conlinu8s to F)n)vlde l)u8iness advice and mentoring in a consulting capacty. Steve stepped down as a Twstee on 31 &1 December 2023, followng a relatn away from Darlington. Tnlee Induction and Tralni Most Trustees have wevlously sèrved in positions of spOnSibl11fy wlthin churches aThJ Charities. All are familiar wlth the working of King's Church Dadington. being Church membws and holding vaou5 position$ of responsibility. Al Trullees have received a copy of the M8moran(Jum and Artides and are familiar with their contents. M. Sowerby has served as a Director of companies in his professionallrfo and is familiar wlth the workingg of Companies ar* reporting requirements. Trustees make use of Charity commission website to maintsin their knOedge ofcurrent developments. Risk Man ement The company inherfled a valid Risk Assessment from the fMer Charity. Following the relocation of the Church Into the King's Centre in June 2006 a review of risks associated with the property was perfonned and the Risk Register upJ8led. We were fortunate to be assisted by a Church member whose professlonal lrfe is very much wncerne(i wlth carying out risk assessments for large ganIsatnS. A fomial review of ts risk register L8 perfornied on an annual basis. The Church is a180 advised by a kxal Insurance Broker who spgcialises in church matters and who has been able lo visit and discuss our changing needs. This has proved invaluable and has enhanced our risk management prctess. anisalional Stru¢ture The Twslees hold quarterfy Board meetings. Outstde of the Board Meellngs 8 number of sub- mmitt88s exist to ensu the Smooth running of the Church. Thege committees are chalred by members of the Board and include olh8r members of the Church wheTe appropriate 5ki118 are available. Th& key committees are: Remuntrration Commltt•o - To review all aswGls of eM0Ye8 terms and nditionS and make recommendations lo the Board for approval. Paid membws of the Board are not pemiitted to vote on issues relating lo thèir own remunerallon. It is chare(i by RP Davison and members during 2023 include M Sowerby and S Ward. The Twstees receive no ben8frts from th8 Church in Ihelr capacity as Trustees and gNe their Ilme volunlarlty. Details of Trustee remuneratlon and expenses in relation to services as Eidefs 1$ disclosed In note g to the financial ststements.
Klng's Church Darllngton Dlrgctor8' Report for the Yoar ended 31 Docgrnber 2023 Structur•, Governance and Management {contlnuedl Finance Commltteo - The ffiar8 ¢ommlltee meets. 88 required, In the two months between board meellngs. The group comprises, M Collman, M Sowerby, JC Lambert and RP Davlson, and monmors the day lo day finarKe5 of the Crch. dealing Ilnancial matters arising between Board Meetlngs. R lated Partle8 The Church is a member of the Evang81ical Alliance and Is affiliated to a worldwide netwc*k of churches known as Newfronliers. ObJo¢tlva8 and Actlvltles The ¢harity exists lo advance the Christian faith and also bring relief to persons in condition¥ of need, hardship or distwss, or who are aged or stk. Further objectives are the advancement of education on the basls of Christian principles. and lo provide or assist in the provision of facilhles in the interests of social welfare. The Trustees have referred to the guid8n¢e contsined in the Charity Commi8slon's genersl guidance on public benefit when revlewlng the charty's airn5 and obje¢lives and in plannin9 future a¢b'vilies. In particular, the Trustees consider how planne(l activitles will contribute lo the aims and objectives they have set. The slrategres employed lo further charltable purposes for the public benefrt are.. Sunday w¢Yship and other meetings whrch are helcl al the Klng's Cent. Darlinglon. The building is in the Whessoe Road area of Darfington and provides an active and digtinctive basè within g community in need of soclal regenèration. A ngtsvork of mldweek groups ILIFE Groups). whlch meet on a weekty b8$is in varlous homes and the King'8 Centre. They provide a supporuve environment In which members can develop relation8hips and provide a platfom? for outreach inlo the wder community. Running dlscipleship and outreach courses and carylng out weekly and monthly groups for adults and youth. Including mentsl health support group. Supportrng the work of Sole Hope Uganda. a ¢harty working within educatlon. mediclne and special needs in Uganda. Supporting the work of a church in Rofflania as It houses and looks to rfrhome Ukrainian refugees. Th8 Church operates a Furniture recycling scheme, whrch recetves and lleCt8 donated furniture, renovates and stores as requlred. and d81ivers lo those who purchase. The Food bank now supports one other venue in town 8$ W811 as the King's Centre base where food ts stored and dislrfbuted to over 5t)) peopl& per w&ek over a fiv&day weekly period. The King's Cafe whlch is open to the public on a Monday lo Friday in the King's Centre. Klng's Sports hosts weeY Pilates class88. uslng our maln hall. wee youth group whkh also attands summer camps. A weekly baby and toddler group for the local community. Achlévoments and Porf0rn7an As a church we are pleased to see signrficant growth in attendance across a range of ehurch activit$ and the continued increase of members. We have seen an intxease in those attending Sunday moming meetings and our youth and childr&n's work, th a large part of the demographlc of the church becoming younger and attracting more famllies. We have also seen increased dema1 with our free to attend, Monday night youth group that we offer lo the church and those in the ¢ommunity around us, and with attendees a150 from other churches in D8rlington.
Klng'8 Church Darllngton Dlroctor8' Roport for tho Year ènded 31 D•c•mbor 2023 Achi•v•mwts and P•rfom7an¢e (contlnuadl The foodbank has seen more need for Ihelr services in the midst of a '¢ost of livlng crlsis. and in the last year provlded over 150,000 indivldual meals to the servlce user8. The Furniture Scheme has also continued to be well used by the communty of Darlinglon and the surrounding areas. In the year, we had t1 oppNtunlty lo host the Christ Central internathjnal conference at the eentre and this proved to be a great Suc83. W8 also hosted a worren's Conferen led by Lou Fellingham, a renowned worship leader. Flnandal Revl•w The results show a net expenditure of £150k compared to £29k in 2022. Restricted funds represent £81k of this year-on-year ¥ance wllh funds rÈceived in previous periods being disbursed in 2023. Nel expeThJilure on unrestricted funds wa5 £125k which was £41 k above 2022 e1$. The result is afier bearing depreciation of £99k such that Unrestrthd Earnln98 before Interest, Tax and Depreaalion are a negative £10k. Unrestricted Irome increased by £39k lo £554k wrth trading activities up by £30k and fUmIre donallons by £23k. Covid recovery gr8nls of £10k receed in 2022 were not repealed in 2023. The higher level of trading actlvkies predominanlty relate lo the Café and Fumilure recycling scheme. We remaln grateful to Church members who continue to donate ItUgh a dIffult perrod. The htgher level of actlvity also resulted in higher unrestdcted ¢osts, which We up by £80k to £679k. Furniture Scheme c09ts were up by £25k and café costs by £10k. Property costs are up by £27k in the year due to hhJher energy costs. W• continued to adopt a very prudent approach to discTrtionary exp8ndhure. Restricted income was down by £33k on 2022 levels at £99k, due lo a lower levd of grant income. Restrict expenditure wag £48k aLwJve that inCUed In 2022 prlmarily (iue to C1$ expended agalnsl FocKibank grants received in previous periods. Closing unrestrlcted fvnds were £35k. however this figure includes fixed assets of £255k of which £225k r8lates to the ng'S Centre arK1 the related building improvements. The Church has a finan lease liabilty of £266k. essentially secured against the bulldiro. Nel Cent assets, IheTrfcffe, represent a fairer pictu of the day lo day health of the Church financey and availability of fuTKfs. Unr&stricted net current assets ar8 £16k which are down from £74k in 2022. ClosirvJ reStrted funds. all held in cash, were £68k of which £9k relates lo grant funding carried fard and £59k to Foodbank donations.
King's Church Darflngton Dir•¢tor8' Report for tho Year •nded 31 Decamb•r 2023 Financial R•viow {conL) Ke Activities Outsido of rMnal meetings and activities the Church is investing In four init18tlves'. the Furniture Stheme, the Café, King's Sports and the Foodbank. The table belt)w summarises thè running costs of these activttles and how these costs have boen funded.. Furnhure Scheme £'ooo Klng'8 Sport8 Foodbank Costs.. Salary Costs Other Direct Costs Alo¢aled Overheads £'ooo £'ooo 38 23 16 77 24 18 128 45 237 Funded by: Voluntary Glfts Benefrts in Kln(i Grant income Trading IroMe Church Funds Rgstricled Funds 81 118 29 120 (3} 62 14 {11 16 237 Allocated overtd$ repret a share of ac¢ommodalk)n o)sls. based upon spa¢e usage and other overhead as relevant. Voluntary grfts are amounts recelved for th• stwrfic activity. Church Funds represents t shortfall in funding from sources of Incom6 specrfic to the activlly aThJ 1$ therefore the amount requlred to bg funded from unrestricted Church funds. Outi Despite the economlc uncertainty, the outlook for 2024 remains positive with income levels rdatively robust and expenditure under control. We continue to be well SUPFthed by a mixture of committed employees and volunteers and we remain vigllant lo changes In income and cost Igvels. Princi l Fundln Sou The main source of income lo the Church is through grfts and donations recelved from Church members. W& are also able lo sublet some offices al the Church premises. Incidentsl income is rec8wed through reimbursement for some specrfic, and more costly Church events. Major G9Pit81 proJe¢ts are usually fvnded from gfft d8ys aThJ grants. Inv strnent Polic The Church alms lo hold minimal levets of cash reserves and thus $urplus funds are retaln8d In hlgher interest deposlt accounts.
King's Church Darfln9ton Dlroctors, Roport for the Year ended 31 D8¢omb•r 2023 Flnanclal Rovigw Icont.) Reserves Poli Church Trustees have establlshed a poll¢y of ensuring that the Charity retalns a mlnlmum level of cash equivalent to belwe8n 2 and 3 month5 normal expenditure. Al 31 December 2023 this target was estimated at bets•en £60k and £80k. Closing unreslri¢ted cash funds al DeCb9r 2023 were £58k, of which £10k related to a legacy received In 2018. The Trustees are keen lo ensure that this legacy Is used for the future development of the Church Ihough the training and development of new leaders and leveraglng the capacity of the King's Centre faolities in the advancement of the Churches key objectives. A decision was taken to IncaSe funds thrwgh a gift day. held in May 2024, which increased fvnds by circa £33k. Plans for Futur• Perlods er the last e1ve monlhs it has been en¢xufagiro to see church growth and lo look al the community and serveS we have begn able Io txovSde. We have seen growth in our Sunday morning galherlng5 as we attrad more young families as a church. We also have been encourag&Y by attèndance to other weekly groups that we have providgd and going forward we will look to conlinug lo support these groups. Care & Share, tyjr mental health group, 8 knitting group, 8 toddl8rs group have been successful in rea¢hing the Gommunty. We have also establlshed a nèw group, 'Taste & See,, which Fffovldes a safe space for users of the foodbank to recelve a free hol meal and to hear about the beliefs of the church. Our fwJ$ on the year ahead is to 'Love God, Love Others and Make Dlsciples, by.. Conllnuing to see growth and sustainability In 011 of the projects mentioned above. To grThv the outreach of youth work and se& growth in attendance to all our youth and children's work. We will run more children'$ groups for th6 local communty, Induding a summer ¢lub for outreach and chlldren's celebrations. U$e of our facilit to provide a grgaler divwsty with events and 5ervl¢es catering for all Raising the finance to accomplish thi8 Imth t1 desire of gwling money lo wcythwhile causes in both the U.K. and Overseas. To support Christ Central church plants, including Gothènburg (Sweden), Chemnitz (Ggrrnany}. Siem Reap Icambodlal. and Hallfax (Can8d81. To preath the good news of Jesus and see people joln th8 ChUh famlly.
Klng's Church Darllngton Dlrnctors. Report forthe Year •nded 31 Dec•mber 2023 Trustws, respon81bllllles statemont The trustees (who are also directors of King's Church Dartington for the purposes of company lawl are responsible for preparing the Trustees, Annual Report and thg financial statements in accor(lance wSlh appllcable law and Untted Klngdom Accounting Standards (United Kingdom Genèrally Accepted Accountlng Pr8cIic81. Company arKI charity law requlres the trustees to rxepare fina181 statements for each financial year, whrch give a true and fair view of the slate of affalrs of the charitable company and of the incoming resources and application of resovrces, including the Income 3nd expendlture. of the charltable company for that period. In preparing these financi81 statements, the trustees are requlred to." select sultable accounting polici8s and then apply Ihem conslsl6nly; observe the methods and principles in the Charities SORP., make judgements ané estlmates that are reasonab18 and prudent.. prepare the financial slalements on the going concern basis unl8ss It 18 inappropriate to presume that the charitablg company will contlnue in operation. state whether applicable actsjunling standards have been followed subject to any malerlal departures disdosed and explained in the financial statements. The Iruslg8s are responslble for keeplng adequate accountlng rerdS that dlsclose with reasonable accuracy at any lime the financial position of the ¢haritabt8 company and enable them lo ensure that the financi81 statements comply with the Companies Act 2006. They are also responsible for safeguarding the a$$ets of the charitable Compsny and hence for taking reasonable steps for the prevention and detecllon of fraud and other irregularllies. Stat•m•nl of dlsc108ur• to Ind•p•nd•nt Examlnor In so far as the trustees are aware: there is no relevant information of which the charitable company's independent examiner is unaware.. the trustees have taken all steps that they ought lo have taken to make themsefves awaTr of any relevant information and lo establish that the independent examiner is aware of that inforrnalion. In preparing this report, the Iruslees have taken advantage of the small companies exemptlcns provided by se10n 415A of the Companres A¢t 2006. This report was approved by the trustees on 1Ph September 2024 and is signed on their behalf by". Mr RP Davl8on Chair of Tru
King'$ Church Darllngton Ind•pondent EXamIr,0 report to the trustees of Klng's Church Darlington I report lo the charity trustees on my examlnalion of the accounts of the company for the year ended 31 December 2023 which are sel out on pages 1110 27. Responsibilitles and b8518 of report As the charrty Iruslees of the oompany (and also ils directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of thg Companies Act 2006 {'the 2006 Act'l. Having sati$fied myself that the arLourrts of the company are not required to be audited under Part 16 of Ihe 2006 Act and are eligible for Independent ex8minallon, I report in respect of my exarnination of your company's accounts as carried out under section 145 of the Charities A 2011 I'the 2011 Act,). In carrying out my examinats'on I have followed the Directions given by the Charity Commlssion undgr Section 145(51{b) of the 2011 Act. Independent oxamlnerfs stal?mgnt Since th& company's gr05s income exceeded £250.000 your examiner must be 8 member of a body listed in section 145 of the 2011 Act. I confirm that l am qualified to undertake the examination because l am a member of the ICAEW which 18 one of the listed bodies. I have completed my examinallon. I confimi that rm) mallers have come lo my attention in connection with the examination givlng me cause to b&ll8ve that in 8ny material respect.. accounting records werg not kept In r8sFt of the company as reqLtlred by section 386 of the 2006 Act", or the accounts do not a¢wrd with those records., or the acÉounls do not comply with the accounting requlrements of secuon 396 of the 2006 Act other than any requirement that the accounts give a Xrue and fair view, which is not matter considered as part of an indendent examination.. or the accounts have not been prepared In aCCordare with methods and principles of the Statement of Recommended Practice for accounting and reportlng by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republi¢ of Ireland (FRS 102). I have no concerns and have come a¢ros5 no other matters in conTrectkJn wth the examination to whrch allenlron should be drawn in this report in order io enable a proper understanding of the accounts to be rexhed. Beverley Goodall 8A BFP FCA AbacusBean Limited Level a Offices Surtees Business Park Siocklon-on-Tees TS18 3HR Date: IqlaLk 10-
Klng'$ Church Darflngton Stal•ment of Flnanclal A¢tivltles (including Incomo & Expendttur• Account) for th• Year endod 31 December 2023 Year onded 31 December 2023 Unro8tricted Restrfcted Total Funds Funds FurHIs Yoar •ndgd 31 Dec•mber 2022 Income and endowmonts from: DOnatn and legacies Rental in¢ome Investment income 343,371 12,700 3.691 98,8 442,261 12,700 3,691 469,843 12.500 1,122 Charitable actlvltle8 Church events 194.484 194.484 164,140 Total inGom• and endonents 554.246 98.890 653,136 647.605 Expendlturo on: Raising funds Costs of generating rental income Charitable acttvitrg5 Governan costs 3,410 7,567 3,410 7,567 3.198 6.350 662,098 5.760 124,452 786,550 5,760 661,868 5,238 Totsl •xp•ndituro 678,835 124,452 803,287 676.e52 Net {•xpenditur•yln¢ome {124.5891 125.562) 1150.151) {18,1701 129,0471 Transfer belween funds 18.170 Net mov•m•nt in funds 43,732 150.151 29.047 R•con¢iliatlon of funds Funds broLbJht forward 141,906 112,228 254,134 283.181 Total funds ¢arrled fov¥Yard 35.487 The notes on ge8 14 to 27 form part of the financial Statements. The statement of financial actNltles includes all gairn and losses recognised in the year. All income and expgnditure derive from contlnulng activllles. The statement of finanual activities also complies with the requirements for an income and expenditure account under the Companies Act 2006. 11
King's Church Darfington Balance Sheel as at 31 Decembor 2023 31 Do¢omber 2023 31 December 2022 Tangible Fixed Assets 12 254,825 334,132 Currnnt AglS DeblotS Cash at bank and In hand 13 14,113 126.442 140,55S (56,147) 13.972 223.1 237,873 (51,785) Cr8dltors'. antS fairing due within one year 14 Net Current Assets 186,088 Total Assets195s Currnnt liabilities 339,233 520,220 Credltors.. aK)Unts falling due after one year 15 (235.250) 66,088) Nèt Ats 103,983 254.134 Charlty Funds Unrestricted fijndg Restslctad fibnds 17 17 35,487 68,498 141.906 112.228 Total Funds 103,983 254,134 The notes on pages 14 to 27 form part of the financial stslements. The company is entitled to the exemph'on from the audit requirement Contain In 58ction 477 ofthe Companl8s Act2006, fortheyearended 31 De¢ember2023. No memberofthecompany has deposed 8 nthce. pursuant to se10n 475, requiring an a141 of these accounts. Th8 ttustees acknowledge thelr responsibilits'es for ensuring that the charity keeps accounting records which compty wh sectlon 386 of the Act and for preparing financia5 statements which glve a true and fair vl8w of the state of affairs ofthe company as at the end of the financial year and of its incoming resources and application of r8sour¢es, including Its income and expetKliture. for th8 financlal yaar In accordance with the requirements of sectbons 394 and 395 and which otherwise compty with the requlrements of the Companies Act 2006 relating to financlal statements, so far as applicab18 to the company. Tho ffnanolal ststements hava been prepared in accotd8nce with the provisions appfic8ble to Companles Subject lo the small companies. regime. The flnancial statements were approved afwj authorised for issue by the Board of Trustees on 17th September 2024 and skJned on their behalf by-. Mr MA Sowe Trustee Company Registration number: 5670530 Charity rogistratioTr numb•r: 1113455 72-
Klng's Chur¢h Darllngton Cash Flow Statemont for tho Year ondgd 31 De¢ombor 2023 Y•ar •rKled 31 Docember 2023 Unrnstricted Restrlct¢d Total Funds Funds Funds Year onded 31 D0mbar 2022 Notes Not Gash piovlded byl(usod In) opgratlng activitlos: 9.057 {43,7321 (34,675) 86,766 Cash flows from other Proceeds from Sale offad assets Appllcalion of caBh.' Purchase of fixeé assets Sale of fixed assets Payment of inter8St on borrowing Repayment of borrowlng (20,702) 2,419 {20.702) 2,419 15,997} {15.548 (28.953) {15,548) (28.9531 {17,433) 127,0671 N•1 inGrgasd{d•Grga8el In cash: (S3.727) (43,732) (97,459) 36,289 Cash al the beginning of the year 111,673 112,228 223,901 187,632 Cash at th• ond of the year 57,946 68,496 126.442 223.W1 The notes on pages 14 to 27 fomi part of the financial Slalements. 13-
Klng'8 Church Darllngton Nolo¥ fomilng part of tho Flnanclal Statemonts for the Year onded 31 December 2023 AruntIng pollcles The principal acCnting pol1e$ are summarised below. Tl* accountlro policies have been applK8d consistently throughout the year and in the preceding financial year. Basis of a¢¢ountlng The final181 statements have been ryepartsj under the historlcal cost eonvention and in aCrdanCe with the Companies Act 2006 8nd 'Accounling and Reporting by Charili85.' Sialement of Recommended Practice applicable to charities preparing their accounts in aGGordan¢e with the Financial Reporting Slan¢Jard applicable in the UK and Republic of Ireland {FRS102) (effective 1 January 2019).. The charity is a Publlc Benéfit Enlty as defined by FFiS102. (a) The a¢counls ar8 prepared in slerling, whtch is the fijnctional currency of the charitable company. Monetary amounts In these ffinancial sta19ments are rounded to the near8st £1. (b) Company status The Charity 18 a company limited by gu8rantee. The members of the company are the trusleey named on page 2. In the event of the Charity being wound up. the liabilty In resp1 of the guarantee 1$ limited to £1 per member of th8 Charity. Fund accountlng Unrestrlcled funds are available for use at Ihe dlscrelion of the trustees in furtherance of the general objectives of th8 ChUh. Restricted funds are subject to reslriclions on their expgnditure imposed by the donor or through IPE temi8 of an appeal. When th8 restrictions placed on $trict funds have been removed. 8 transfor is made from restrlcled funds to unrestrlcted fund5. (d} Incomlng re8ource8 All incoming resources are induded in the Statement of Financw Aclivttles when the harity is grrtMed to the irwme and the amount can be quanted with reasonable accuracy. The fdlowng specrfic pollcies are applied to the partlcular categories of IrMe. Voluntary income is reIved by way of grants, donations and gmts and is induded in full in Ihe Stsiement of Financial Activities when r8ceNable. Grants, wh8re enlitlemenl i8 not condlllonal on the delivery of a speclfic performance by the Church. are recognised when the charity becomes unconditionaliy entitled lo the ant. Donated servi3 and facilities a included al the valu8 to the Church where this ¢an be quanlffied. The value of seivices provided by volunleerg has not been Induded in these financial statements. The value of f¢)od and furnre recelved and subsequenuy donated have not been included in these financl81 statements. Rental irthme Is accnted for when It becomes receivable. Investment income is included when receivable. -14-
King's Church Darllngton Note• fomilng part of tho Flnan¢ial Statwnents for the Ygar end•d 31 D•c•mber 2023 Accountlng pollcles Icont.) Incoming re80vr {cont.) Incoming resrceS for charitable trading actfvlty are 8cccMJnted for when they are eamed. Incoming r&sources from grants, where relaled to perftymance arKI speclfic delNerables, are &wunled for as the Church earns the right lo consideration by its performants. For legacies, entement is the earfier of the tharrty being notified of an impending distribution OT the legacy being received. Al this point income 1$ recognised. Where legaci8s have been nolrfied to th8 charity however il is not possible to measure the amount exp8cled lo b8 distributed, the legacy is Irealed as a contingent asset and disclosed. Re8ourco8 exponded Expenditure Is cJnI5ed on 8n accruals basis a8 a liabilty is irrred. Expendlture includes any VAT which cannot b& recovered. arKI Is reported as part ofthe gxpendtture lo whlch il relate$: Costs of generating fvnds ¢omprise the costs associated with attwliDg volun Income and the costs of generating rental income. Charitable exp8nditure comwises those costs Incurred by the Church in the dellvery of its actrvitie5 and services for Ils beneficlaries. 11 in¢ludes both costs that can be allocat¢d dire¢tiy lo su¢h activitles and Costs of an indirect nalure necessary lo suptM)rt Ihem. Govemance costs Indude th& costs a$sl8ted with meellng congtilulional and statutory requlromenls of the Church and include the independent examiner fees and ojsts linked lo the Stralegk management of the Chur¢h. All costs are allocated between the expendtture categories of the Statement of Activities on a basis designed lo reflect the use of the resource. Costs relating to a partulaT activity are allocated directly. others are apportlon8d on an appropriate basls e.g. estlmaled building usage or estimated tlme Committed as sel out In note Grants payabie are accounted for when paid. Grants payable ar8 payments made to third partses in the furtherance of the charrtable objects of thadty. Flx•d asgets (fj Fixed assets are stated al Mst less accumulated deprrti8tn. Depredation is ovlded at rates calculalgd to write off each as80t over thek expected usefvl Ilfe.. Muslc and sound systems Office fumitur6 and equipmant 25QA reduclng balanee. CompLrter equipment 25% reducing balance. tor vehicles 50% dUcIng balance. Leasehold ImFffovements 250A r&ducing balance. ProFWty 10 years stralght line from completion. slralghl line over the term of the lease. Asset$ costing less than £250 are not capitalised. 15-
KSng'8 Church Darllngton Notgs fornilng part of the Flnanelal Stat•menls for the Y•ar endod 31 D•eamber 2023 Ac¢ounllng pollcle9 {cont.) (fj Flxod a880ts (cont.) Oerxeciatlon is not provld&d on assets under constnjction until the asset is completed, After completlon, periodlc Impairmgnt reviews of the leasehold improvements will b8 performed. Glft8 In klnd The value of grft$ in kind ig recognised as incJ)me wilhln the fina81 statements al the point at which Ihe Church is deemed lo realise a benefit for the gift. Such incomo 18 valued al the estimated market value of the benefit where this can be quantrfied. (h) Leas•8 Assets obtained under finance lease5 are capitalised as tangible assets and depreclated over the shorter of the lease term and their useful lives. Obligations under such agreements are included In creditors nel of the finance charge allocated lo IUre periods. The finance element of ihe rental payment ig charged to th& Statement of Financlal Activilies so as lo prcrfluce a constant periodk rate of ¢harge on the net obligation outstanding in eaGh perknd. Rentals payable under 0rating leases are chaW agalnst income on a straight4ine basis over the lease term. FOrrn of financial sL*•ments The trustees have adapted the formats fN financlal $latemenls set ¢xrt in The SmaN Companies and Groups (Accounts and Dlwtors. Report) Regulations 2008, to suit the nature of the company's activities. This fomiat remains consistent wth SORP {FRS102). o) Crflleal accountlng polici Th8 aGcounling policies which have the most material Impact on the financial statements of the charily relate to fund UntIng and treatment of fix8d assets. In particular: Thé Chur¢h has wuired a property undor a long-t&rm lease. See notes 1 (Q and 17. Thls has the effect of introducing 8 material asset and loan Into the bslance sheet. The Church ha8 expended signrficanl funds In devdoplro the propety. Thgse leasehold Improvements are being depreGiated over a 10-year period as per rk)te 1{fj. Details of reslitted funds operated by the Church can be found at Tte 17. Golng nCern (k) The financlal slalements have prewed on a going conrEm basis as the trustees believe that no materfal uncertainties exist. The truslees have considered the level of furNJs hdd and the expected Iwel of Irne or expendlture for 12 months from authorislng these financlal st8temenls. The budgeted income and expenditure Is sufficient wh the level of reserves for the ¢harity lo be abl8 lo contlnue as a going concem. 16-
Klng's Church Darllngton Notes fonnlng part of the Flnanclal Statem•nts for th• Ygar onded 31 Decemb•r 2023 AGcoundn9 pollcles l¢ont.) Exceptlon8 to SORP (FRS1021 The nature of the chartty means that Church members will regularly provtde the church th th9ir services on a voluntary basis. Examples of the contrityjlion made by volunteers Include organisalion of events and meeting$. and stjpport lo the café, fo(hY bank, 5POrts facilities and fumlture scheme lo augment the work of paid employees. As per note l (d), Ihese serviceg have not been valued arKf Included as income as the truslees belwe that il Is impossible to quantfy the value of these services and that inclusion of such an estimate would not add to the understandlng ol the financial Ferfmance ofthe charlty. The Church operates a Fumiture recycliry schem8 which reN85 (lonaled secon hand furniture. The fumlture is then sold to the community al a rMInal fee Intended to cover operating costs on. Valuallon of the donated goods is not possible and so the Church recognises the gift income and associated cost at the same value as the income actually received when sold. Whllsl the Ckyjrch holds a level of stock at a given time the trustees have chosen not to indude the value of the stock in ils balance sheet on the basis that tt is not FKJ$sible lo value the stock until it has been sold and on the basis that the value is not material lo the uThJerstsnding of the financi81 statement8. Th& Chur¢h operates a food bank which recelves donated food. The food is then grfted to the o)mmunity for no fee. The donated food is high volLrme and low value whlch makes il impractical to value and so the Church does not recognise gift income, associated cost or stock. Income from donatlons and 1ggacla8 Yr end 31 December 2023 UnroStrlct•d Re8trl¢tod Total Funds Funds Funds Y•ar ond 31 D&combor 2022 Gfft$ and donations LegaGies Grants (see note 17) Gffts in kind 225,109 81.335 306.444 310,421 125 118.137 343.371 17,555 17,680 118,137 442,261 83,957 95,465 469,843 98,8 Year erKled 31 December 2022 337,358 132.485 469.843 Restricted Income represents ino)me gffted for the purposes to suppryt the work of the Foodbank. and grants to support the work of the activiJes undertaken at the King's Centre notably the Fcthbank and the Fumbbjre Sch8me. The £10.000 of unrestricted grant in¢ome are 8ftts received from the Local Authority to affect organisations impactod by the Coronavirus pandemic. Gifts In klnd represent the valuo of donated fiJmliure that was sold during the year. 17-
King'• Church Darlln9ton Notes foimlng part of tho Flnanclal Statements for the Year ended 31 Dgcemb8r 2023 R•ntsl Incomo Year ended 31 December 2023 unrestr1 Restricted Total Funds Funds Funds Year dfjd 31 D•combor 2022 Letting of office f8cilities 12,700 12,700 12,500 12,7(KJ 12.7 12,5CM) Year ended 31 December 2022 12.500 12.500 Invo8tment Income Ygar endod 31 Dgcemb•r 2023 Unrèstricted Restrlcted Total Fund8 Funds Fund$ Y•ar ondgd 31 Dec8mber 2022 Bank interest receivable 3.691 3.691 1.122 3,691 Year ende(131 December 2022 1,122 1.122 In¢ome from ¢harltable actlvltles- chureh ev•nts Yoar ended 31 Decembor 2023 Unre8trl¢ted Restrlcted Total Funds Funds Funds Y•ar ended 31 December 2022 Relmbursgments for. Youth Activities Events ané Training Furn[re Schome Café Irwme King's Sports Other In¢ome 174 8,649 174 8.649 348 10,891 119,540 62,446 3.220 455 194.484 119.540 62,446 3,220 455 194.484 98,769 50,317 3.165 650 Year ended 31 December 2022 164.140 164,140 18-
Klng's chUh Darflngton Notos forming part of the Flnanclal Statoments for th• Year end•d 31 Docomber 2023 Totsl gxpenditure Year •nd•d 31 D•¢emb•r 2023 Churth Me8ting$ Extemal Events Direct Evangelism & Training Direct YouthlChildr8n's Work Direct Grants to Organisations Grants lo Individuals Independent Examiners Fees Furnibjre Recyded Café Fcodbank King'5 Sports 8,671 200 8,935 200 8,514 4,907 2,388 5,746 9,279 9,279 Dlrect Direct 25,083 2.248 7.493 32.576 3.748 29,760 3,274 Dint Dlrecl Dlr8ct Dlre¢t Dlrect 2,350 2,350 1.969 138.437 692 23.073 24.474 24,474 136,468 22.381 2,040 111,419 12,273 16,054 205,315 2.350 36,392 244,057 194.375 Staff Costs Premises Costs Administratron Costs Time Usage Time 2.923 1,461 5,397 243 244.083 2.923 174.501 23.117 88,060 339,450 179,898 24,334 303.701 140,929 20.214 Inlere$l on Flnance Usage Lease 15.082 15,548 17,433 3.410 7.567 662,098 5,7eJ) 124,452 803.287 676,652 Year ended 31 De¢ember 2022 3,198 6,350 584.584 5,238 77,282 676,652 Eider and Adminiytrators Staff Costs and Admlnlstration Costs have been allocated on the basis of an estimate of time spent by the Elders. Admlnlstralor, Fumiture Scheme Manager. Focxjbank Staff, and Café Manager. Premises costs and the interest on the loan to fund the building purchase have been ailocated on the basis of usage of the bjllding. Premlses costs include depreckqtion of Bullding Improvem9nts of £71.330 (2022.. £71.236) and £20,000 for Property (2023: £20.IJIOI. The balance of depreclation (J)sls of £8,03212022.. £6,793} is within administralNe costs. 19-
King'5 Church Darllngton Noto8 fomilng part of the Flnanclal Statoments for th• Year ended 31 December 2023 6 Total expenditur• (GonL) Year Endad 31 December 2022 Church Meetings External Events Evangelism & Training Youthlchildren's Work Grants lo Ckganisatior Direct Dlrecl Direct Dlrect 3,399 4,694 3.115 213 1,639 200 6.514 4,7 2,388 5.746 5,546 Dlre¢t Dir8Ct Grant8 to Indlvlduals Independent Examinors Fees Furnmure Recyded Café Foodbank Q'ng's Swrts 29,7e4) 2,474 29.760 3,274 Direct Direct Direct Direct Direct 2.040 110,703 12.273 2.040 111,419 12,273 16,054 716 16,054 189.598 2.040 22,737 194.375 Staff Costs Premises Costs Adminislratlon Costs Tim8 Usage Tlme 2,794 1.397 4.228 202 242.171 136,701 19.204 54,545 303.701 140,929 20.214 404 Interest on Finan* Lease Usage 523 8.350 16.910 584,W 5,238 3,198 17,433 77,282 676,652 7 N•t incomlng re80urce8 Net incoming rer¢e5 a Stated after charging.. Year onded 31 December 2023 Year d•d 31 December 2022 Depreciatlon Independent Examiners Feas 99.362 2.350 98.029
Klng'• Church Darllngton Not•s fornilng part of the Flnanclal stateMts for the Ythv •nded 31 Decembor 2023 8 Staff costs Slaff ¢0sts were as fdlow8: Year ondod 31 Decernber 2023 Y•ar end•d 31 Denber 2022 Salaries and wage8 SocK41 security costs Pension cosls 303.035 18,941 20,337 342.313 269.251 19.928 18.270 307,449 No employee eamed emoluments of rne than £60.000 in a year (2022.. none). The Church operates a defined contributron pen$ron scheme which requlres the Church to make contributrons of 7%. provided that the employees fflatch the 7% contributions. From 1 June 2023 the respeCte contributions were increased to 8%. The contributions made by th6 Church for the year were £20.337 (2022: £18.270). Total tèrminalK payments amount lo £g,OCrf) (2022.. £Nil) ar#J relate lo settlement agreements for employments temilnated in the current year. No amounts are outstanding at the year end (2022:£Nil). The average numb&r of employees durlng the yw, calujlated on the basbs of fiJll-tim8 equNalents was as follows.. Year onded 31 Decembor 2023 Year ended 31 Decembar 2022 Church Elder Chur¢h Admlnistralor Youth Worker Furniture Scheme Worker Café Worker Cleaner Foodbank Staff 11.4 13.0 21
Klng's Church Darllngton Notgs fomilng part of the Flnanclal Statements for tho Year •ndgd 31 December 2023 Tru8t••8 remuTreratlon and relat•d party transactions There were three trustees who recetved remunération in the year12022: ) for tt[r services as Elders. as permitted by the Memorandum and Articles of Association. Thesewere the only key management person who received remun8ralion In the current or prevlous year. Total &mduments wer8 £%.22312022'. £90,184), including penslon con1rlbuti0r of £6.151 {2022'. £5,900). The hlghesl paid trustee. Mike Collman, received emoluments In the year of £50,875 {2022.' £48,386) including pension conlrlbutions 01 £3,62612022.' £3.165). The trust mentioned above were roimburse(I for expenses totalllng £2,657 {2022.. £3,289). Stev8 Ward received reimbursement for expenses totalling £Nil (2022:£168)- These expenses were incurred performing their dutie8 as Elders. and mainly comprised travdllng, hospilalty ar telephone costs. No other Director CK other person related to the management of the Church had any personal Interest in any contract or transaction entered into by the Charty during th8 year. 10 Grants made by the Charity In the year, the Church made charitable grants from unrestricted funds of £27.311 (2022.. £32.2341 which comprised £25.0831o organlsalions (2022: £29,760) and £2.248 to indivKluals {2022'. £2,474). The largest ghfts we £11,000 towards the works of Christ Central, being the organisation which co-ordinates the subgroup of NewFronliers to which the Church is affiliated, and £5,000 towards New Day a national annual Christian COnferer for yth. Grants of £1,500 w8re made from the Poverty Relief Fund (2022.. Nil) and £7,493 from grants12022'. Nil) of which thè18rge81 was £6,370 in respect of UgarKla pro5ects. In all cases grft5 wer8 made lo further the aims of the charity being lo further Christlan faith and also bring rellef to p6rson8 In ¢ondilions of need, hardship or distress, or who are 8ggd or sr¢k. 11 Tax8tion As a charity, King's Church Darfinglon Is exempl from tsx on income and gains falllng within section 505 of th8 Taxes A¢1 1988 or s256 01 the Taxatlon of Chargeable Gains Act 1992 to the extent that these are applied to Ils charitable objects. No tax charg8S hav8 arisen in the Charity- -22-
Klng'8 Church Darfln9ton Note8 formlng part of the Flnanclal Ststements for tho Year ¢ndgd 31 December 2023 12 Tanglbl? fixed a880ts Cost Al 1 January 2023 Additions Dlsposals At 31 Dtrmber 2023 55,864 73,132 4,006 34,029 14.750 5,650 43.129 1,126,283 51Y).(MJo 1,946 1.789,308 20,702 5,650 1.804,360 55,864 77,138 1,128.229 500,(M)) Deprgciatlon At 1 Janu8ry 2023 Charge for th8 year Disposals At 31 December 2023 49.565 63.838 1.575 3,323 29,677 3.134 5,003 27.808 977,098 335.000 71,330 20.000 1,455,178 99,362 5.003 1,549.$35 51.140 67,161 1,048.428 355.000 Not Book Value At 31 Dec•mber 2023 4724 9,977 15,321 79,803 145,000 264825 At 310ecember 2022 6,299 9,294 4,352 149,187 165,orx) 334,132 The nel book value of8sset$ h81d under finance lease amounted to£145.OW {2022: £165.000). 13 Debtor8 31 Dec•mber 2023 311)•cemb•r 2022 Other dgbtor6 Prepayments 6.614 7.499 14,113 4.651 9.321 13.972 14 Crodltors: Amounts falllng du• vAthln on• y•ar 31 Decornr 2023 31 D•cémbor 2022 Trade (Yedltors Taxation and soci81 Sgcurity Accru815 Finance lease 8.629 8.587 8.094 30,837 $6,147 7,726 7,708 7,399 28,952 51,785 Amounts owed under finance lease are se¢urod by the a5set8 lo whlch they relate. -23-
King's Church Darllngton Noto8 fomilng part of Ihe Flnan¢ial Stat•monts for the Yèar endod 31 Decamber 2023 15 Credltors: amounts falllng due aft•r ono y•ar 31 Dfjcemr 2023 31 DK•mber 2022 Finan¢e l&%e 235,250 2e6,086 On 18th January 2007. the company 6nlered an arrang9menl lo purchase a propety. The terms of the arrangement were to pay monthty inslalments of £3,708 over a 2& year peric, al whh polnt the company has the option tr) purchase the fehOld for a nomirkql amount. The agement was bkdated lo 1 April 2(M)6. Amounts owed under finance lease are secur8d by the assets to whkh they relate. Analy81s of net a6Mts betw•en fund$ 16 Y•ar end•d 31 De¢omb8r 2023 Unrestriclgd Funds Rgstrfcted Fund8 Funds Fixed assets CuThent assets Current liabilities Lon*lerm liabilities Net assets * 31 Decamber 2023 254,825 72.059 (56,1471 235,250 35,487 254,825 140,555 (56,1471 235,250 254,134 68,496 68.496 Year ended 310ocember 2022 Unr•Btricted Funds Re8trlctod Funds Total Fund8 Fixed assets Current assets Current Ilabilities Long-term liabililBs assets December 2022 334,132 125,645 151,7851 266,086 141,906 334,132 237,873 151,785) 266,086 103,983 112,228 31 112.228 -24-
King's Church Dartlngton Noto5 fgrmlng part of tho Flnandal Statomonts for th• Yoar endod 31 D•¢•mbgr 2023 17 Movement In funds Year end•d 31 Dewnber 2023 As at 1 January 2022 Incoming Resources Outgoing Resources Transfer bets¥een funds A5 at 1 January 2023 Incoming Resoijrces Outgoing Resource5 Transfer between funds As at 31 Deoember 2023 223,936 515,120 {599,3701 2,220 141,906 554.246 {678,8351 18.170 35.487 39,545 2,834 78,528 (56,805) 16.866 283.181 53.957 647.605 {8CQ) {19,6771 {676,652) 2,220 61.268 2,034 81,335 48,926 254,134 17,555 653.136 183,403) (1,500) (39,549) (803,287) 18,170 59,200 8,762 103.983 Pur ose of the Foodbank Fund formerf Gift Da Fund This fund L8 built up from dorkqlions lo support the *ivilies of the Foodbank. At 1 January 2023 the brought forward fund was £61.2e8. Further gifts of £81.335 were received in the year. Exp8n(iiture was £83,403 such that closing funds w6re £59.200. Pastoral Hel Fund This fund available to meet the need$ of those in financial diffiCltieS. A bala1& of £2,034 was brought forward. £1.500 w83 gifted in the year leaving a closing balanGe of £534. Grant IrKom8 FocrtYb8nk: A brought forward grart to suprM)rt clients of thg Foodbank who were in need of £2.238 was added to by a further £3,(M)O grant in the year. £5.232 was expended leaviro a &irrred forward balance of£6. The was also a balare of£2 000 brought foThvard for the purchase of food, grants of £21.900 towards the running of the scheme and £695 toward the running of v8hkles and these were all fully utilised in the year. A grant of £1,088 was recelved toward the eslabll$hment and upkeep of a fotr bank gar(Jen f&llty and this remalned unspent at the year end. -25-
Klng'8 Church Darllngton Note8 fornilng part of th• Finandal Statomont8 for the ond•d 31 Decembor 2023 17 Movem•nt In funds (cont.) Grant Irme conl Fumiture Scheme: The Church holds grantfvThJing dgnated to fund the running and replacement costs of a Furnitu Recyding Scheme van. The opening balance was £14.642. An additional £3.CrfJO was r8ceived in the year, £441 was S1 on maintenance costs and £14.750 used lo purchase a newvan. leaving a closing balance of £2.451. An unspent grant ¢)f £1.431 towards establishment of workshops was brought fc*ward. £1.105 was expended in the year with the balan of £326 being carried into 2024. Other.. A number of her grants were utlllsed as foil¢)ws. £950 towards the funding of the Soup Kchen was brought forward and carrr8d fonvard. £139 to fund equipment for King's Sports was brought forward and remained unspent at the year end. An unspent grant to repkqce the )loor In one of the halls in the King's Centre of £941 was brought forward and remained unspent * the year end. Grants of £2,390 towards the support of oversèas mission work was brought forward. A furtFw £100 was receivod and £1,122 was spent, leavlng a cf05ing balance of £1,368. Grants of £1.315 to supp)rt the ¥¥ork of Soul HO Uganda were brought forward with a fijrther £.6317 added 2023. £6.370 was spent in the year le8ng a closing balance of £1.262. £264 was spent against a brought forward grant of £285 to allow the purchase of books. leaving a closing balar of £21. Grants of £4,050 were received in the year towards the funding of new furniture for the café. £3,840 was spent leaving a dosing bala of £210. Year •ndod 31 Do¢grnber 2022 As al 1 January 2021 Incomlng Resourcgs Outgoing Resourc95 Transfer beeen funds A8 al 1 January 2022 Incomlng Resource$ Outgolng Resources Transfer been funds As at 31 December 2022 342.715 435.728 {$54,5071 46,273 57,574 (64,302) 2,834 30,977 422.799 30,090 523.392 (44,201) (663,010) 223.936 515,120 (W.3701 2.220 141.W6 39.545 16.866 283,181 78.528 53.957 647,605 156.805) (8001 (19.677) {676.6521 2.220 61,268 2,034 48.926 254.134 2,834
King's Chur¢h Darllngton Notes fomiing part of th• Flnanclal Statoments for th• Y•aT 8nd•d 31 Docember 2023 18 Lea8•s a) Flnance l¢atse5 . le8800 The only finance lease relates to purchase of Land and Buildings. The terms oflhe lease require quartedy Inslalments of £11,125 to be paid over a 2&y6ar peri(J commencing on 1 April 2006. The building has been v8lu8d at £500,000 and intere81 of £612.500 has been allocated on a sum of diglls basi5. The capital payment of the lease is due.. 31 DoGornber 2023 31 D•eembgr 2022 Wrthin 1 Year Within 210 5 Year8 After 5 Years 30,837 142,192 93,058 28,952 134,654 131,432 b) Operatlng leas•s- I88• Total fvture minimum lease payments UTvJer nonanceabI8 operatlng lease5 are a8 foll¢)ws.' 31 Decembor 2023 31 Dec8mber 2022 Not later than one year Later than one and later than flve years Later than five years 682 369 2.559 3,241 369 19 Sharè capltal The company does not have a share capitsl. In the evgnl of a winding up. every memLr at th* time is requirsSd to contribute £1. 20 Rocon¢lllatk+n of net exyndlture to not flow from owrntlng actfvitl Y•ar •ndod 31 DgGember 2023 Year ondad Total 31 Funds D•comber 2022 Unr•strfct•d Restricted Funds Funds Net (exp8ndibJreyincome Depreciation Charges Interest ¢harge Loss on disposal of fixed assets Decr8asellincreasel in debtors {Increaseydecrease in creditors Net cash provKledl(used in) operating activitie5 {106.4191 99.362 15.548 (1,771) (141) 2,478 9,057 (43,732) {150.151) {29.047) 99.362 98.029 15.548 17.433 {1,771 } 129 (1411 11,078> 2,478 1,300 {34.675) 86,766 {43,7321 Year ended 31 December 2022 33,784 52.982 86,766 -27-