Company rebnstration ￿Umber." 05998496 Charity registratL¢)D Dumbet.. 1118251 Kings People's Church (A company limited by guardntre) Annual Report and Finartial S¢a*ments for the Ytar Ended 31 December 2023 Chart¢red A¢¢ounrants Isi Floor, Blo¢k C The Wharf Manches￿1 Road Burnley Lancashire BBII IJG 'Afm2E2• 1W0912024 COMPANIES fr￿1$E A13 252 Kings People's Church Conlents Refereoce aDd Administraiive Detsi15 Trustecs. Report 2to7 Ststernent of Trus*es' Res￿nsIbIlItieS Indepelldent Auditors. Report 9t012 Statement ofFinancial Activities 13 Balance Sheet 14 Ststement of Cash Flows No*s to the Financial StsteTnents 16to27 Kings People's Church Reference and Adminlstrgtlve Detslls Truitee5 Mr A Bladen Mr A Dou8htty rs R Eden Mrs R Fisher Mr l J Scholes MrDMSmith Charity Rtgisfr*tlon Number 1118251 Company Registration Number 05998496 The ¢baTity is inwrW￿ttd in EtLgland. The Mill Bury Road BoltoTh B12 6QE Registered Office Alldltor Chartered Accountants Ist Floor, Block C The Wharf Manchester Road Burnlty Lancashire BBII IJG Bankers Barclays 1- 5 Mark¢i Street Bolton BLI IBU Page I Kings People's Church Trustees, Report The trn5tecs. who are direc￿rS for the purpos￿ of company law. pr¢s¢ni the annual r¢port tO8cther the financial statemeDts and auditors, report of tbe chan'tabLe ¢on)pany for the year ended 31 D¢¢emb¢r 2023. Trustees Mr A Bladen Mrs S P Clarke {resigned 27109Q023) Mr P Denney laprM)inied oimin023) Mr A Dougherty Mrs R Eden {appointed 01101120231 Mrs R Fisller (app)iDted oimin023) Mr l J Scholes MrDMSmith Strueture. govern*nee #nd maN*gtme*t Kin8s Peoplc's Church (also kno￿ as Kings Church) i5 irKorporatcd as a charitable company limited by guarantee and governed by its Memorandum and Articles of AsSLKiation dated 18 Decembtr 2006. Gov¢rnatv of the orwisation resides with the tr￿Slee$ are respow4ible for. Ensuring clarity of vision, ethos and sts2teg]c diretlioTI . Holth"ng leaders (in¢luth"og th¢ Core T¢am ￿ whom I¢ad¢Ts￿"p of the ¢hutch aDd ThanagetneDt of the activities is delegated) to accouoi for peTfoThnant¢ of the orgatt1￿tsots atsd the effective and effjcient perfomjattce tnatsagement of the sraff learn Overseein¥ the firwi¢ial ￿[fornIar￿¢ of oryniwion athj makiog suwe money is spent well and in a¢¢ordance with the vJ$ion and values of the oJganisatiort. Governance. 5trucfure and management are coThtinuaJly monitored by the boaT(L aTKI reYi5ed governance policies have been Written and implemented over the past finan¢ial year. The board of Trustees has been strengthened in the financial yeat with the addition of thiee new TTUStees in January 2023. The board are considering futtwe apwintmeThts in linc with Charity CommissioD guidance. The trustee5 makc dcci5ions aE*)ut strategic matters sucb as buildings. finarKe, staff ￿p￿into)en￿ setting pay and remuncrdtion octhe charity's key persorfftel. Tbe Core Team has spirilual ovusighl of the organiwion and makes operational decjsions about ch￿¢ 3¢livities and dire¢tioD ￿ 2¢¢0rdan¢e with the St￿rgi¢ viskoii. Th¢ Core Tearn w&$ expandcd in tkccmbcr 2023 to de¢p¢tt the brtadth of exp¢riene¢ of th¢ ¢lderslu"p of th¢ ¢hut¢h. King5 Church is affiliatrd to the Assemblies of God {AOGI to WI￿rn wc look for good practice in FM)th spiritual and operating activities. Senior Pastor Derck Srnith was appomted to thc N3thonal Lcadcrship Team of AOG In 2023 with 2 focus on the atea of Church Health. His apw)Jnttneni w&$ approv¢d at board level so as not to conxprojnise on80￿B activities of People's Cburcb attd servicts delivtted to users. Page 2 . King5 People's Chllrth Truste￿. Report ObJe¢rfve$ 4nd &¢tivities Th¢ objects of the chuTth are ￿:. Advancc the Chr"tsti3D Faith its a¢￿[dance with the Sta*ment of BeJief5. in BoltoD. Blackpool, Liverpool, Salford. Wigan and the Persian community b&sed Én Bolton. aThJ in such other parts of (he United Kingdom or the world as the tsusiees may from lime th lime think flt To provjde and LSSiSt in the provision of facilities for the benefit of the ¢ommut)iiits where each of our campuses ar¢ based and the surrounding neighbouthort which fa¢ilities may, wthout limitation, include the provisiou of ¢hildcare services and meetings. Iccfures. classes aud othei forn￿ of tducaLlOn, training in life skills. re¢r¢ation and leisure-time occupation without distiDCtiOD of racq s¢& pohtical, religious or other opinion atsd with the objective of iD]proving the coDditioDS of life for the said itthabitattts as the trustees mf4y frotn lime ￿ time thit)k fit Through our Swthy services and midweek piogramme. training events and other activities. our aim is brin8 adults, young pcoplt and children In￿ a ETeaLer spiriNal, intellectual and moral avmreness and advance thc prdctical application of Chrisiiattity We seek both 10 mobili5e the trtople of God and express the love of God w thos¢ with]n and outside our ottgregation through all of our chur£h acrivitse5 We expect to see people's lives Changed for the beller a8 they txptriencc G¢xl'5 help in thcir dajly lives and the companionship and pra¢ti¢a] help of others in our suprKJrtlVC groups and gathcring5 We expect people to bc bctter equipped in life skJ"Its throllgh our training and education. We also expect benefieial ctLan8cs in the livcs of thosc both within and outsLd¢ our congregation who receive prattical help or gifts of food and clothing aDd of those re￿1ve help from gifts msde to Overseas aid and famine relitf. All other chantsble activities UTM1ert￿cTh by the church are ￿ fither the auainmenl of the above objectives. New Vision statement In 2023. the Core Team Kings Church'5 new vision stateTnenL Kings Chw¢h exists w estsblish Jesus-centred faith Commwiities that Reach. T￿￿. Le2d and Releas¢. Our congrcgation5 across all campuys art Sleadily growbn8 and ￿ have ambilions to expand inLO new communiiies in line with th15 vision sts*menL Relgted parties The church maintains 8￿MI working relalion51u'p5 with otheT churches attd tonjmunity outreach groups ITh the areas surrounding our camp￿5 EocatiOn4 aDd a150 nationally. There is ￿gll1ar ¢o-op¢raiiott LD pursuit of our mubjal charitable objectives. Nont of these are decmed to bc Tclated parties. P￿bIle btnefit dl$¢losur¢ Throughout the reporting pertod. the a¢iiviiies of the chan.ty have Ixtn centred on six campus locations - BolLOrt, Blackpool, Wigan. salfOr￿ Gateshead and Liverpool. All of the aciiviiies of the charity are deerncd to be in the intsrtst of ihc public benefit. Our gtsverning documeni Tequirts thai our a¢tivitics include the provision of facilitscs expressly for the benefit of pcople in the communities wheve we are locaied. All our cotnmut)ity cngagemcnt activjties have this &8 the primary objective. We work closcly with Thc Message Trnst ID our Cotnmunity Grocery at both The Mill. Bolton and Black￿1. Page 3 Kings People's Church Trustees, Report Kings Church coniit)uts to expand and review the efficacy of its actiwties in Juty 2023, thc ￿Slee5 dccjdcd to rel¢as¢ the Gat¢shtad CAMP￿$ to operate outsiik Kings Churcb as they follow a diffcrcnt 5tratcgic direction. lty Septemb¢T 2023, Kings Cburch lauDched a catnpus in Liverpool to reacb and s¢rv¢ the ￿M￿UllIty there. FuttLre expansion developments in¢lude new campw at¥J Jcsus.centred ￿"th conunuuities wh]"cb fonts the basis of our Core visiou srat¢ment. Othu examples of the commitmcnt to mcctin8 our public interest objectives iD¢ludc the ministries of Christians Against Povcrty (money TDathagetneni and life skiU5). Secret AngtW Clothes BaDK Love Docs, Wlko Let the Dads OUL Cornmunity café and Connect gTOUPS. Cornmunity everLLS. col￿v￿lty LA)ckcr. min1￿]ants (parent and toddler midweek groups). Neon Dights. falluly fjJD days throu8bout tb¢ year. sutnmer holiday kids, clubs. atKI fatnily fjlm nights. Volunteeys Kings People's Chwch could rtoi fvnction without Jts volunteeTS are highly valued. Most of the midweek activities are led by volunieeT& all of wh(Mn are vetttd. DBS ¢hecktd (when applicable) and provided with indu¢tion training and guidante. Ott a norn￿1 Sunday. more than 150 volunte¢ts across all campuses ar¢ Involved in servjcc dclivery. Charsty and ILtsl community outreach is unduthn by voluntects 3Dd ci>ordinated by a paid stsff Tncmber. Social invejtment The ¢hw¢h'$ a¢iivi¢ies ¢on(inue to expan￿ aThd this etLsures cotliinued focus on the need to ¢onsider ih¢ suitability of so¢ial inv¢srm¢nL CLwr¢rtLly d¢lM fir￿nCIng is Obtsin￿ via kn"ngdom Bank WIKS SUPPOrt ¢hur¢h and ¢harity inv¢sunenLS. s¢£ured against property. We maintain rcscarth on opWrtuniti￿ other grant at*1 fund provideES ￿ help fillancc fvturc and potcntiai social iDVCSttn¢nt projcrts. Achievements and performance We hav¢ seen ait¢ndance at all of our campuses grow over the pasi year. Almosi 900 people ¢all Kings their home, and allend one of ollr church setvices each wetk. Particular notable achievements this year have been in our young people's mini5ty. Our Encounter Youth pmgramme at Bolton for age5 11-18's runs every Friday night and stts attendance not only from the young people WIKJ regularly attend Kings Church on a Sunday, but also from other ttenagcrs frorn acn)&s the North West and in the comrnunLILes in which we operate. The youth weck avrdy in April 2023 was attended by over 70 young peoplc. Many of our young pcople have had thc opportwjity to train with the AOG 'YouDg Lion5' pro￿)}rne. offering fnethtoring and leadership developrnent. Feedback frotn local teacbers has thai our young people are having a strong. POSLtive 'leadcrship' impact within their school communities. We coniinue io devel¢)p our community paMneTships. We have pathered with a charity called 'Reach', sponsor 3 events throughout the year al our Bolion Campus, it)cluding a Christtnas appeal to etssure those in our community do noi go withoui over Christm&s. Our Salford campus partner with Saddleback Churcb. shariDg faciliiits ro help addiiional church services reaching ihe Hon8 Kong community in Salford and the wider Manchestrr arta. Our Communiry Grocery paTtncr5hkp with Ihe Mt5sa8e Trusi h&$ txpanded, with a 8rocery opening at our Blackpool campus. giving much needcd provision to the community there. The TnJ$iees undertook a hjll org¥niWiOt)al review this year and have designed athd implemented a line mana8emettL S1￿C￿)re for our stsff and key volullieers. A raft ol new policies helps to ensure everyotse. at all levels of our or8ani$ation. are $thv)nB for txcellence, art supp)rted irt that aim, and are ac¢ountable in th2t aim. A stratcgy has beets prtpared Jn line with the new Vision ststement LO provide sorne practical step$ in which to grow the charity atsd the ¢hurch. We continue to have a d¢si8naied ttw¢¢e with oversight of risk$ aff￿lIng our or¥anisation, recording artd maintsinin8 a risk regisler. We also bave a designated trustre with oversighi for safeguarding across our organisaLlOn. Pa8¢ 4 Kings People's Chureh Trnstees. Report A canxpus pastor ret￿l￿]ent d2y w very frILithIl, and we were excikd to welcome new Campus Pastors to provide leadershtp in our Saiford Campus. We coniinuc ￿ develop tlxe ft￿X[ generation of leaders for Kin8S atkd thc wider Cbristian ¢Orn[m￿ty. We CO￿1￿Uc to rcctuit straitwcally, finding the rigbi people to woric with us os we t￿ve forwit Fumdrxising The rnajority of fi￿￿$ have traditior￿]Y Come as voluntary donations {tithes & offerings). As our ¢ommunity engagem•Ji is part of ow cort activiti4 w¢ rely ov yo1￿trry donaiions to meet the majotity of our expenditure. Tbere h&s ￿en llo professiooal fi￿dI0]si￿g ID Tespect of ordinary activities. FlnaDtlAI review Dun'ng 2023 there was a steady increase in voluththry dOn￿lOn$ rettived by Vdy of iithes and offerings which have in¢Teased 7.7Q/o year on yeaT. Our Bolion. Blackp(A)l and Persian eAmpuses in particular recorded strong levels of giving. Our ongirtal and flagship campus at Bo1￿￿ r¢maiThs the stmn8est ntwtt¢rically and in trnns of giving and really SUPFons the campus model of Kings Church. We expect regular tithes a￿1 offerings to contiDue th S*adiiy grow over thE llext year as campuses continue The ¢hur¢h held a Vision Offering on 21 May 2023, the fitsi Vision Offering for tsvo years with thc 2022 Vision Offerirtg being wkthdrawn &s the tirniDg coincided with the i1￿reASe in tncrgy bi115 and c05t-of-living cri515 atY¢¢titig the UK. The Tnjstees aod Core Team bave reviewed the circurnswhce5 and are ttiDStating thc annual Vision Offerin& to be held in May 2024. The start of 2023 in¢luded the strate￿¢ ￿tn)It￿t￿l of staff to ￿￿￿ge the silts and buildings at Kings Church. A Site Mattager maintajw the assets of the Church and a Room Booking Adroinisrrator is tasked with oversccing room hire activities and conferettces. The twstees UTthrtook a full and detailed Tcview of the organisation'5 finances gnd opErating 5tra¢egy in 2023. The review was underfaktn to ensure thaL as the charity bas gro￿ and developed, that it futlctions In the best and Dwst effLcieDi Way PO&8ible to x¢hieve the aims of the OTganisation aJMI io ensuTe all do￿a[honS were 5Mvarded and useLI well. 8Dd always to the VisioD and charitable aims and obJ"ec(ives of the organi5aiion. This has led io a reduction the genera] ex￿ndin￿¢ of the organis&tion and 8 clear strategy to ensure the long-tem) gtowth and Sustsinabiliry of the thurch. To fvrther this aim, the building ai our Salford campus wa$ re-mortgaged with kn"ngdom Bank. This ¢01￿11da￿d som¢ short-iern) debt and liabiliiies, th￿8 reducing expendiwre. Further fiJJaD¢iaJ accounthbility been Implell￿lltcd with a thorough review aDd implementation of a llew expenses policy. and the removal of all credit card& except for a central purchasing card in the organisatioD. Tb¢ trustees considcr that the continued dev¢lopm¢ot of The Mill premises will attract ￿nher btssiti¢ss opportunities and will ¢nable us ¢0 a¢lu"eve our ambitkons to pmvid¢ Ixop¢ and help to people our local COD)DM￿ty and beyood providiDg new space no( only for our (i18s progratnme but also signifi¢allt increase in our community outreach program￿¢& Both Bla¢kpool arkd Salford ¥sets providc si8DifK4nt oppornnity for cotDrnunity outreach development and room hir¢ busAtttsS to fijnd the costs of the buildiDgs. with a vtew that do￿trO05 will be SPCDt on rntnisty and TtiiSSiOn. Page S Kings People'5 Church Trustett, Report At the end of the year thc financial 51alements slM)wed a (kficit of £150,336 (2022= surplus of £195.338) of which £133,397 was unre5triCted and £16.939 restiÉcted. The suolus that the charity reported last year was derived in the main by the traLsfer of charitable activities aDd ￿¢1 assets frorn Pendlebury Evangelical Church of £324,562. The ￿ndS carried forvrdrd at the ytaT end totslled £716.230 madc of up £689,059 unrtstricted funds and £27,171 re5tricred fund5. Events after the reporting peri During the year the trustees and rnanagerneDt of the chan'ty took the oppottynity to m¢r8¢ with anoth¢E church (Urban Cburch) who are based in WarriDgton. The inital work surn)undiog th¢ m¢rg¢r swted towards t￿t end of the financial year with the total tirne taken for cornpletson to be between 6 to 12 n￿nths. Reserves poll¢y As part of the ongoing governance review. the reserves p)licy was updated in January 2023 as foll￿$.. The church aims to maintain free and availablt reserves equating to IO% of the annual net op¢ratiMg costs Rcservc5 will bt re-asse&std regularly aDd specifically in the followhDg circumsthnccs.. A si￿lfiCant change in the core operations of Kin85 ChuTCh. Infomiatiort comin8 to ItghL that dou￿ on itKome f]ows: A sigmficat)i chatsge io the wid¢r envirotwxot in Wh￿ Kjngs Chwch opei*S, includitsg the overarching economic climate. Annually, in th¢ ¢v¢ni that no other re.&W5Sme￿ b&s tsken plav. Key risks and uncertaintie5 disclosure5 The Tn￿8 have assessed the rth that they consider are facin8 the clwity and ttote tht followith8.' Cost of living cfjnrinues ￿ be a challenge. both for our expendinwe as an organisatiort and for the members of our congregation. Challeng&5 with developing space and growing our r(MJm-hire business. We should seek people who want to Use the space we have, rdther than tying lo devclqj space to suii what the room-hirers are Tequesting. Expendimre and Iwdgeiing are being kept under close review (o enSll￿ best stew8rdship of our resources. Potential for eapitsl expendimre on outslated Infrastn￿D￿e. Maintenanr£ of buildings and assets needs to be consrantly mortitored. Pl*ns for future period5 2023 involved some substantial groundwork in reviewin8 KiD8S church as a whole. and putiitig in place foutkdations from whicb ￿ grow alld thrive in yeats ￿ corne. We art excited to see bow our t￿V Liverpool campus grow5 aNI develop5 over the coming year and are 5eekiThg opporDJnities LO plant Jesus-centred faith communities in other locations. We are confident that we have Created a SmLCtur¢ and environment in which new communities can thrive from day Adth'tional fi)nding is beiDg sought to facilitate development of the Mill in Bolto￿ as well as iovesbnent for our buildings ID Blackpool and Salford. We arc seeking a nyjre pern]aDent home for our Liverpool Campus and our Wigan Campus in order to provide a stable and prorniTheftL locaiioTh within those communities. ￿ fi￿her th¢ airlls to 'Regch. Texh. Lead and Release,. Pa8c 6 . Kings People's Church Trustees, Report DIsc105v￿ of iDformatlon to audltfjr Each trustee has taken s*ps thai they ought ￿ have tsken as a tnjstet in order w make themselve5 aware of any rclevani audit infomation and to establish that the ¢harity'S auth.tor is aware of that information. The trustees nfinn that there is no relevant infonnation that they know of and of wbicb they know the auditor is unaware. Th¢ annual report w&$ approved by the tru5tr&% of the d￿lty ott 16 Septemlxr 2024 aThl signed on Its behalf by.. Mr l J Schol& Trustee Pa8e 7 Kings People's Church Statement 0fTrust￿, Responsibillties The trustees {who are also the diTe¢tors of Kings People's Church for thc PUTP05CS of company law) are responsible for preparing the trustees, rtp)rt and the financial statrments in accordance with applicable law and United ￿TIgdO[n Accouuting S¢Jnd3rds (Unitcd K￿gdOrn Generally Acceptcd Accounting Practicc). including FRS 102"The FiDanciai Reporting S&Thdard applicable LD the UK and R¢pubb"c of Lrcland". Company law require5 the tru5tee5 to prepare financial statements foT each fjnancial year. Under company law the tswstees must not approve the financial ststrmenLs unltss they are sallsfied ¢hal they give a tnJ¢ and fair view of the slaic of affairs of ihe charitsble company and of the incomjng resour¢¢s and applI￿lOn ol re50UTces, including its income and expendibjre, of the chariublt comparty foT petiod. In preparing these financial statements, the tru5tecs arc required to.. sdeci suitsble accouniing policies alld appty them COD5iStently" ob$eTve the methods and principles in the Charities SORP: Tnake JudgerneDts and Cstirnats that are reasotyablt and prndent" stste whether applicable accounting sthndaTds. ¢omprisJng FRS 102 have been followed, subject to any m2*riaJ departttres di￿losed and explained in the financial statements" and preparc the financial ststements on thc 80in8 COTbCCrn bAsis unles5 bt 15 inappropriatc to presume that the charitable c<)mpany will continue in busioc5S. The tnjstees are reS￿nsible for keeping Proper accounting records that can disclose with reasonable accuracy at any time the financial position of the charitable company and enable (hem to ensure that the financial statements comply with the Companits Act 2006. They are also r¢S￿nSible for safeguarding the assets of the charitable company and hence for taking rt&sonable steps for the prevention and detection of fraud and other iTregularitle5. The th￿te£S are responsible for the maintCDancc aDd integnty of the Co￿0￿41C and financial inforniation included on thc charitablc CoMpan￿S website. LegL51ation govcrning thc prcparatLOD and dis5cminatioD of financial statunents may differ from le8islation in other jurisdictions. Approved by the trustees of the chanty on 16 September 2024 and signed on its behalf by.. Mr l J Scholes Twstee Page 8 Kill￿ People's Church Independent Auditor's Report to the Mernbers of Klngs People's Church Oplthloo Wt have audi*d the financial statements of Kings People's Church {th¢ '¢harity) for the year ended 31 December 2023, which comprise thc Ststcmcnt of Financial Activities. Balance Sheel Strtemeni of Cash Flow5, nd Nok$ to tht Financial Statcments. including a summary of 5ignificaTh¢ accountitig wlicies. Tb¢ finat)¢ial reporting fy3JTJewotk that I￿$ bccn applied in their preparation is United Kingdom AccouThtiDg Srandayds. cornprising ChaTJties SORP- FRS 102 Tbe FinatKial Rep)rtiDg StaDdard applicable in thc UK and Republic ol Ireland, and applicable law (Uoi*d ￿.￿gdoM G￿￿TallY Accq)ted Accounung Practice). In our opinion the financial staiements= give a tsue and fatr view of tht ststr of the charity's affairs as at 31 Deccmkr 2023 and of its Jncoming resources atsd appli¢alion of Iesources. includiDg its incorne aDd ex￿ndIture. for the ycaT then ended. have been properly pyepared in accordance with Uni*d Kingdom Generally Accepted Accounting Practice. bave t*en prepared in a¢cordaDce with the rtquirements of the Comwiies Act 2(M)6. B*s1$ for opinion We conducted our aud]"t I￿ actordattce with Inrernatiooal Stsndards on Auditing (UK) (ISAS (UK)) alld applicable law. Our resp)nsibilities under those srandards are filrther described in the auditor responsibilities for the audit of ihe fiThartcial st2Lem¢nLS seciion of our rerrt)n. We are iTMlependeni of the chaTity in ac¢ordan¢e with the ethical requiTemettts that ar¢ r¢l¢vant to our audit of the financial sta*ments in the UK, including the FRC'S Ethical Standard. and we have ￿lfilled our other ethical rcsrMTrnsibiliiie5 in accordance with these rtquirements. We believe that ihe audit eviO¢nce wè have obtained is wfficient and appropriate to provide a basis for 4)ur opinion. Contlusions relating to going cotttertt In auditing th¢ finan¢ial 5tstements. we have concluded thlt the trustees use of the going concern l)asis of aC￿U￿ting ID the prepantion of the fjnancial ststements is appropria Base41 ou the wtsrk we bav¢ perfornJ¢d, we have not identified any material UDCCrtainties relating to events or condition5 thaL individually or colle¢tively, may cast significant doub( on the cbarity's ability to continuE a5 a 80ing Concern for a period of ai l¢aM twelve n￿nI]L$ from when the otiginal fiDancial 51atemeDts werc authori5ed for issue. Our responsibilities and the rcsponsibilities of the In￿￿£S with resptci &) going concern are ¢kscribed in the relevant sections of this rewrL Other informltiort Thc trustees are responsible for th¢ other ith1om￿￿On. The other inforniatsot) eompriscs the infonnation included in the annual report. other than the financia] statemeots aJMI our audiior's report thereon. Our opinion on the financial ststements docs noi Cover the other infomjation and, except to the extrnt otherwise explicitly stated in our repo¢ wt do not exprcss any fo￿ of assurance ¢on¢lusion thereoth. In connettitsn with our audii of ihe fjnancial statements, our restM)n5ibility 15 lo read the other infomation an in doing so. cortsider whether the othcr infonnauon is rnaterially incon5iStent wth the financial stat¢ments or our knowledge obtsined in the alldit or othcrwise appears to be tDaterially rnis5tated. If we identify su¢lL material iDCOfjSiStencie5 or appareni material misstawnenty we are required to deterniine whether there is a IT￿terial misstatement in the f￿anCIAl sratem¢nts or a m2¢rial misstatement of the other iDfonnatLOIL If, based OD the work we have perfoTrned, we Conclude there is a n]*iial n)issta¢mem of this other Inforn￿￿o￿ we are iequired ￿ report that facL We have nothing to report in this re8ar Page 9 Kings People's Church Independent Audfitor's Report to the Members of Kings People's Chureh OpSn5on other m#tter pr￿rIbed by the Companle5 21)06 In our opinion, based on the work undertaken in the of the audit: the infomJatioTJ gjven io the Trnstees, Reporf for the financial year for which the fiDancia] statemetsts are PTepared is consisten¢ with the r]nan¢ial ststements: and the TTUStees' Report has been prepared in accordance with applL¢4ble legal requiremtnts. Matters on whkh we #re requlred fo report by exeepilo Ln the light of our knowledge and under5tandi08 of the charity and its cnviroDmcDt obtaincd in thc coutsc of tbe audiL we have Dot identified material tnisstatettlents in thc TTUStces' Report. We havc nothing ￿ report in re5PeCt of the followin8 matter5 vjhere the Companies Act 2006 TtqULres us to report to you if, in our opinion.. adequate accountin8 Te¢ord$ have not be￿ kep4 or rtttrns a&quate for our audit have t￿t bttn received from branches oot vjsited by ￿. or the financial statements arc not in agreertni With the accountirtg records aNJ retsjrns; or ¢ertain disclosures of iruslccs remunerdtion sF¢¢ified by law are no¢ made." or we have not received all the Inforn￿tiOn explanatioTh% Wt require foT audit Responsibilities of trustees As explained more fully io the Stst¢m¢DI of TrusEees' Re5w>Dsib1liti￿ (set out on pa8¢ 8), the trus￿$ ar¢ respoDsible for the prepardtion of the financial ststerneDts and for trKing saiisfied that they give a rrne and fair view. and for such internal control as the trustee5 deterniiDe is to enable the pieparation of financial statements tbat are free frorn material misstatemenL whethet due to fraud or error. In preparin¥ the fjnaneial statements. ihe InLStees are reswnsible for &w5sinx the charity'5 ability to continue as a goins concern, disclosing, &5 applicable, matters related to 8oin8 concern and using the going concern basis of accounting unlw the trustees either iniend to liquidate the charity or to ce85c O￿rall0nS. or have no realistic alternative but w do so. Audltor ruponslbllltles for the •udlt of tht fin*n¢i*l ststen￿￿ts Our objectives are to obtain reasonable as5urancc about whether thc fLDancial statements as a whole are free from material rnisstatemcThL wbcther due to fraud or Uror. ar￿ kn issue all audylor'5 report that illclude5 our op>nion. Rtasonable a&surance is a high level of assurance. but is a Euaraniee that an audit conducted in ac¢ordan¢e with ISAS (UK) will always detr¢t a ma￿rIal mis$r*ment when ti exists. Misswements Can arise froTn fraud 01 t￿0[ and are Considered ma￿rial if. individually or in th¢ aggregaie. wuld reasonably be eXp￿ted to influencc the economic decisions of users taken on the basis of these fJTw¢ial staterr*nts. Irregularities, including fraud, are irLsraDces of non-compliance with laws aDd regulations. We desi￿ procedurcs in lill¢ with our resFrf)n5ibilitLe5. Outlined to detect rnateria] Tllisststrments ID respect of irre8ulaTitie5, iDcludinu fraud. The specific procedure5 for this cngagement the exten¢ to which these are capable of dete¢iing irregulariti￿. irKluding frdud is detailed Wow. Our approach to identifying and asstssjng the risks of material misstattmeni respect of irregularitics. including fraud and thon-complian¢¢ with laws atsd regulaiiorts, was as follows: the engagement parther ensured that th¢ ettg3gemtnt t¢am ￿[k¢tiVelY had tk wropriate Coubpetencc. ¢4)abilJties and sknlls to idcntsfy or recognise non-¢omplianc¢ with applicable laws and regulation5' we identified the laws and regulations applicable to the charity through discu55ions with truste&s and othcr Management. and from our knowledge 3nd exptrienct of the charity sector: Page 10 Kings People's Church Independent Auditor's Report to the Members of Klngs People's Church we focussed on spe¢ific law5 and regulations which we considered may have a diTect matrrial effect Im the financial ststemenrs or th¢ operations of the charity, including the Chatities Act 2011. we ￿eSSed the extent of compliance with the laws aDd ieguiatiolls ideoiified above through nuking enquiries of management and ins￿11￿E legal ¢OTTespor)deNce." aod we idenlifitd laws atld re8ulatiorbs which were comrnunicated within the audit tcam regularly and the tram rcIn21nrd alert to instances of Tton4ompliance throughout the audit We assessed the susceptibility of the Cl￿￿.￿$ fiTwJcia] swements ¢0 materia] M1w￿eMenl inch￿]ng obtsiniog an understanding of how frdud might occur. by= making enquiries of n)ana8ement as to whcre they con5i¢kred there was $us¢eptibility to fra￿1 Iheir knowl¢dge of a¢tyaL and alleged fraud. atml onsidering the intcrnal controls iti plxe to mitiBate risks of fraud 8t￿ aon-compliance with laws aod regulatioDS. To addrcss the risk of fraud through rnanagement bias and override of controls. we: perfomied allalytical procethwes on matrrial balanrys for which robusL wbstantiv¢ aDalyticai Procedures bave been widettsken to Mkntify aDy unusual or unexpected ￿l*lonship testcd journal entTie5 to identify unusual transa¢Lions" and invesrL8ated the rationalc behind significant or unusual trdnsactttins. There are inherent limitstions Èn our audit pr(Kedure5 described a￿ve. The nM)re retJN>ved that laws and regulations are from financia] ￿ar￿actIons. the less likely it is that we would F*come avdre of noncompliance. Auditing sr2ndards also limii the audit procedures required w identify non-compliance with laws and regulations to ¢nquiry of th¢ direc￿r5 and other managerneni and the inspeciion ofregulatory and legal correspondente. if any. Material missr*meo¢s thar arise du¢ to fraud ¢an b¢ harder to detxt than those that arise frorn em)r as they Tnay involve deliberar¢ ¢ott¢ea]ment or ¢ollusio A fiutber des¢riptioty of our tespojjsibilities for the audit of the f￿a￿CIal statements is located on the Financial Reporting Council's websitt ai." www.frc.org.uklauditorsresponsibiliiies. This descriptkon fonns part of our audiior's report. Use of report This Teport is made solely to the charitable company's tn]stce5. as a body. in accordance with Chapter 3 of Part 16 of the Companies Act 2006. (hjr audit work ha5 bccn underkkcn so that we rnight stalt to the charity's Ilslets those matrcrs wc are rcquired to state to thern ID an auditor's report and for no othei purpose. To ihe fullc5t cxtcnt permitted by law, wt do not accepl or ￿￿rne responsibility to anyone other than the charitable CofDpany and its trustres as a body, fotour audit wor( for this repo￿ or for thc opinions we have fonned. Page 11 Kfing$ People's Chureh Independent Auditor's Report to the Members of Kings People's Church Mark Heaton FCCA D¢hA (Senior Ststytory Auditor) For and on behalf of KM. Stsmiory Audiwr 1st Floor, Block C The Wharf Manches*i Road Bvml¢y Lan¢ashir¢ BBII IJG 16 September 2024 Pagc 12 Kiny Peopk's Chyrth ststewwt ofWw*Dtial forth¢ Yw EDded 31 Detember 2013 ncludiiglncomt EwDditUTe AcfLths after the reportÉng date. If there is an unconditioDal right to de(er settlement for at Ica5t twelve mODths after the reportithg datr. they arc preserbted as non-CUtreDt liabilities. Trade creditors art recognised inrl¥ally at the transactiC￿ pnce aThl sutwuently tt￿Ured at amortised cost using the effective intrrest method. Borrowings nterest-bearing borrowings are initially Fecordcd at fair Val￿ net of transaction costs. Inteiest-bearing borrowings aTe subsequently urritd * 31ll0￿$¢d ¢os( with th¢ dJff¢ren¢¢ beNv¢¢n th¢ pr￿e¢d$, net of traT)sa¢iioD costs. and the an)ouDt due on [¢de￿ption beiDg r¢cogws¢41 as a ¢barg¢ to th¢ Srat¢m¢Di of Financial A¢tiviti¢S oveT the period of the yelevattt botrowitig- Interest expeose is re¢ognised the basis of the effective iti*rest method and is included in interest payable and similar charges. Borrowngs are classified as cuffent liabilitics un1¢55 the charity has an unconditional right to defer settlement of the liability for at Icast twelve months after th¢ reporting da Page 18 Kings People's Church Notes to the Financial Statements for the Year EDded 31 December 2023 Fund structure Unrestricted income fvnds are general fijnds that are available for use * the ￿￿te¢S discretion in furtheranee of the objectives of the charity. De5ignat¢d funds are unrestricted fimds set &gid¢ for Specific purposes ai the discretion of the trusiees. Restricted income fvnds are those donated for us¢ in 8 Particutsr or for spe¢ifi¢ purpose4 the use of whi¢h is restrict¢d to that area or purEMlSe. Pension$ and otber pDst retirement obligation3 The charity operdtes a d¢fined conknbution pension sch¢rne which 1$ a pension plan under which fixed ¢ontribuiions are paid into a pension fund and th¢ charity has no legal or ¢on5tnJctive obligation io pay further contributions even if the fund does not hold sufficieni assets to pay all employee5 the benefits r¢iating to ernployee service in the ¢urr¢nt and prior periods. Contribution5 to d¢fined contribution plans are rewgni5ed in the Ststement of Financial Activities when they are due. If Contributiort payments exceed the contribution due for service. the excess is recognised as a prepayTnent. 3 Judgements irsd key sources of ¢stimatioA uncertainty Judgemeats In the application of the charity'5 accounting policies. the Iruslees are required to make judgernents, estimates and assumpiion5 about th¢ carrying amount of &5s¢ts and liabilities that are not readily apparent from other sources. The estimaies and associated assumptions are based on hisiorkcal experience and other factors that are considered to be relevanL Acwal results may differ from these estirnat¢S. Th¢ estirywt¢s and Linderlying assumptions are reviewed ou an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision aiTects only that period, or in the period of the revision and futur¢ peTiods where the r¢vision affects both periods. Key source5 of estifflation uncertsinty The estimates and assumption5 which have a significant risk of ￿Using a maierial adjuslm¢nt to the wrying amount of assets and liabilities are as follows. Depreciation The deprrfiation expense is the recognition of the decline in the value of the asset and allocaiion of the cost of the asset over the periods in which th¢ asset will be used. Judgements are made as to th¢ ¢5tim3ted useful Itfe of the assets. these are regularly reviewed to reflect the changing environmenL Deferred and accrued income Deferred and accrued income is based on the assumption that the amounts received or to be received are recogniwj in the period in which the work was done. Any amounts estirnated are based on p￿t experiences and amounts received after the y¢ar end. These judg¢ments ar¢ r¢gularly revi¢wed to r¢flect the changing environment. Page 19 KiDgs People's Church Notes to the Finan¢ial Statements for the Year Ended 31 December 2023 4 In¢•m¢ from don•tions UDr¢stri¢t¢d funds Designattd Generlil Restrieted Totsl 2023 2022 Donations from individuals Gift aid reclaimed Grants 82,721 633.703 125.452 140 716.564 125,452 25,846 665,272 114,771 53,687 23,846 82.721 761.155 23,986 867.862 833.730 5 1n¢ome from ¢h#ritable *¢tivities Unrestriete41 funds Gen¢r81 Totsl 2023 Total 2022 Courses and trdining Hospktality and cafe income Events and aciivitrs income 9.610 9.610 7,807 2.779 79.463 40.963 40.963 90,049 6 Other income Unrestrieted funds General Total 2023 Total 2022 Mtstellaneous tncijme Room hire Rentsl income Transfer of assets 20213 100.997 95,013 20,213 100.997 95.013 130,583 65.406 324.562 216.223 216.223 520.551 In January 2022 the legal transftr of a buslding from Pendlebury Evangelical Church Ltd to Kings People's Church Ltd took place. The building had been gifted to the charity after the charitsble activities were transferred over from Pendlebury Evangelical Church in 2019. The building was transferred at the market valL2e of £360.000 and current &5s¢ts of totalling £10.713 ]ess mitrrtgage loan conunitments of £46.151 totallin8 £324,562. Page 20 Kings People's Churcb Notes to the Financial Statements for the Year Ended 31 D¢¢ember 2023 7 Expenditure charltable #edvltles Unrestrl¢ted DeslEtsAted G¢nerai Total 2023 Total 2012 fund$ Premises costs Admillistraiion costs Mission eX￿nSeS Training and development Governance costs 78.126 422.8(K) 155.884 580.748 14.063 18,794 519.720 155,884 s￿,337 14.063 S36,472 165,847 526,064 12,195 8.414 9.589 78,126 1 178.485 28,383 1,284.994 1,248.992 8 Anaty5i5 Of govtrnante *nd support e•sts Govern*nce costs Uorestrieted fund5 General Total 2023 Total 2022 Audit of the financial statements Acxouutancy fees 3,600 4,814 990 990 4.990 8.414 9 Trustets remunera￿0￿ attd expttsses During the year. two trustces received iemuDeratiott" froth employnkent with the charity. Payment was made (o Mr D Smith under the temts of Kings People's Church standard ￿rn)5 of employment for his role a5 Senior P￿tOr. The amowit of the remunerdtjon ￿ld the year was £50,865 12022.. £48,000) gether with pension Coniributions of £5.048 (2022.. £5.044). Payment was made ¢0 Mrs S P Clarke under the terms of KiThgs Peoplt's Church standard terms of employment for her role as Operatsons Dircclor. Thr amount of the remuneration paid was £32,264 12022.. £18,377) along with peThsion contribution5 of £915 {2022: £548). Mrs S P Clarkc rcsigDed from thc IM>ard of trustees OD the 27tb Septcmbcr 2023. though ernplo￿t coDbnucd past the date of rcsigoation and paymeDts were made &$ part of One trDsiee received reimbursemeot for out of wcket cxpcnses for WOTk ¢anied out for chan"rable activities and rtoi foi resp)nsibilities undertaken &5 a tr￿stee {2022.. One). The iotsl expenses repaid during the year for travel costs and day to day cosrs of the church was £1,907 (2022.. £2.348). Page21 Kings People's Cburch Notes to the Flnanel21 St2tement5 for the Year Ended 31 December 2023 111 Stsff costs The aggregate payroll costs were ¥ follows.. 2023 2022 Staff tosts durlthg the yvAr were: Wages and saiaties Social Security costs Pensjon costs 418249 21.530 10,657 450.436 373.063 20.705 10.193 403.961 The monthly average rtumber of persons (Incllldirtg senior managemeni I leadership team) employed by the cbanty dwing th¢ y¢ar ¢XPTessed as fial time equivaleDts was as follows". 2023 2022 Number of staff 28 24 No employee received emoluments of more than £60,0￿ during the year. I l Auditors, remwn¢r•tio 2023 2022 Audit of the financial sthtements 4.CrfJO 3.600 12 Taxation The charity 15 a rcg]Strrtd cbarity atxl is thercfore exemm frorn t￿$10￿. Page 22 Kings People's Church Notes lo the Flnanclal Ststements for the Year Ended 31 Deceniber 2023 13 TADgible fixed assets B•ildings *nd leasehold inwrov¢n)ents FiX￿re￿ fittings and equiprnent Tot*1 Cost At l January 2023 Addition5 Disposals 1.138.693 26.908 26.908 579,864 ,718,557 26,908 29.308 Ai 31 Decemtw 2023 1.138.693 577,464 ,716.157 Depreclation At l January 2023 Charge for the year EIirniDated on disp05als 101.855 24.458 491,925 80,196 1.2(4) 593.780 104.654 I,2(Kl Ar 31 December 2023 126.313 570.921 697234 Nei book value At 31 Decernber 2023 1.012.380 6,543 1,018,923 AL 31 Dtcembtr 2022 1036.838 87.939 1,124.777 Included wiihin the oet book value of laDd aDd buildings above 15 £624.328 12022 £678,143) in r¢sptct of fieehold land and bui14Jm8s and £388.052 {2022- L358.695) in ￿SPect of Itaselwlds. 14 Debtors 2023 2022 Trade debtors Prq>ayments Accrued illCOrnE Other debtors 18.856 44.228 31.567 21.937 42,890 7,486 7.306 94.651 79.619 Page 23 Kings People's Chureh Notes to the Finan¢ig1 Statements for the Year Ended 31 December 2023 15 Credltors: amounts falling due within oll¢ yur 2023 2022 Bank loans Trade cr￿Stor$ Hire purchase and fioance leases Other watiort and social se¢uriry VAT grant repayabl¢ Other ¢￿￿110r$ A¢¢nMIs Deferred income 6,578 5.797 7.422 85,052 5.151 64.264 5.315 2,891 4.414 9,227 20.375 7.890 4,700 122,130 16,012 16 Creditors: Amounts falling due after year 2023 2022 44J.893 244,260 44,355 Hire purch&£e and finance le&ses 441.893 288.615 17 Obligations under leases The total value of future minirnurn le&st pl￿nents w&$ ¥ follows.. 2023 2022 Within one year ¥0 to five years In over five years 257.341 1,029.363 2.81 l.(K)7 276.078 ,029.364 3,066.646 4.097.711 4,372.088 J8 Penslon •nd other s¢hem¢$ Defined contribwtion p¢n$ioth scheme Tbe cbarity optrates a defsned COtttr1b￿tiOll pension sthrmc. The ￿)SiOn cost chzrge for the ycar rcprescnts contributions pay2blt by the cbarity to the schtsne and aTllountd to £10.657 {2022- £10.193). Pagc 24 King5 People's Chureh Not￿ to the Flnanclal Ststements for the Year Ended 31 December 2023 19 Funds Balance Balance Other at31 Imc&mlng Resources retognised December re50urets expeknded Tr*nsfrrs gxlkn$lOo$$es) 2023 2023 Unrestricted fuAds General General 10.926 1.027.951 (1,177.285) 273.252 {1,200) 133,644 Designatsd Projects. Mis$ioL% and Events Fixed ass¢t reserve 42.752 768.778 82.721 (78.126) (11.438) {249,272) 35.909 519,506 811.530 78.12 260,710 82.721 ￿_ 555.415 822.456 1.110.672 (1.255.411 12.542 1.2(Y) 689.059 Tot*1 unrestricted funds Restricted funds Sythicy and Sheila Mcghcc Charitable Trust Bolton CVS Swnmer Holiday Activitie5 CAP Life Skills Household sup[￿ Fund Grant SFD Winter Welcome Other small imrnatcrial funds Garfield Weston The Beatrice Iaing Tn￿1 Bolton Council Warm Spac& 3.508 (3.508) 304 9,317 {304) (6.240) 4.077 (650) (146) (15,3951 (12.542) 350 1,473 3,031 15.0(Kl 2,5 740 850 29,131 769 1.837 1 S,(M)O 2.5(X) 2.880 (2,140 (28.383) (12.542) 44.110 23.986 27,171 Total fund5 866.566 1.134.658 {1.283,794 716 230 Page 25 Kings People's Church Notes to the Financial Stslernents for the Year Ended 31 December 2023 BAIAD¢¢ XI Other 31 l J#DM•ry Resour¢¢s recogDi5ed Dtcenbber 2022 resourees expended Trattsfers g11n￿(lo$S¢s 2021 U*restTiCted funds General Revaluation reseTht 87.193 332.0(X) I.3￿.653 {1.127,956) (333,713) 332.¢MKJ (5,251) 10.926 l.l27.956 419,193 IJ90,653 ￿ ￿665713) 5.251 DaFign47ted Projects. MissioDS and Events Fixed &8set reserve 29.762 2(Kl.732 (91.204) 104.194 568,046 42.752 768.778 230.494 91,204) 672.240 811.530 Totsl unrestrieted funds 649.687 1.390.653 1.219.160 6.527 5.251 822,456 Re$trl¢ted funds Awards For All All Churches Trust Comrnunity Grocery SydTLey and Sheila Mcghee Charitsble Tn]st Bolton CVS Summer Holiday Aclivities Calm Befor¢ th¢ Stonn CAP Lil¢ Skills Hous¢hold Support Fund Grant SFD Winter Welcome Otber srnall immaterial fvnds 4,289 5,178 56 (4,289) (5,178) {18.236) 18,180 3.432 15.LKK) {14,924) 3,508 470 (166) (1.￿) (4.031) 304 13.348- 9.317 1,000 850 (1,150) 8.116 3.149 24.393 6.527 29,131 24.581 6.527 44.110 Totsl funds 671.228 1,444.330 1.243,741 5,251 866.566 Page 26 Kings People's Church Notes to the Financial Ststernents for the Yexr Ended 31 December 2023 20 Anatysis of Tret &55ets between T•tAI funds at 31 Decemb¢r 2023 Unrestrlcted fullds Gener Deslgn*ted Re$trlcted funds Tangible fixed Issets Current assets Curreni liabilitses Creditors over J year 1.018.923 35.910 (57.5241 {441.8931 1,018,923 261,330 (122.130) 441,893 198,249 {64.606) 27.171 Total net assets 133,643 555,416 27.171 716.230 Total funds at JI Dtcember 2022 UnTestrieied fuods Cther*l Designxted Restricted funds Tangible fixed assets Currcnt as5Cts Current liabilities Creditors over l yeaT 1,124.777 42.752 (67,3841 288.615 l.l24,777 146,416 (116,012) 288.615 60.554 (48.628) 43,110 Total net &ssets 11.926 811.530 43,110 866,566 21 Related p*rty trAnsa£tioThs There were ¥ few ielaled party transactions that took place during the ycar. Mr l J Scholts is a trustte of Kings People's Church and a director of SpacÈous Pl3r£ Contaei Ltd and IJS Vcnturcs Ltd. Both thtst companits provide the charity with phone line service5. The totsl expendiwre incurrtd during the ycar was £1.542 (2022.. £1,529). Mr D Srnith is a ttustee of Kings People'5 Church. During the financial year the charity employed Mrs G Smit the spouse of Mr D Smith. The total remuneraiion received incI￿ling employe¢s Natsooal Inst)ran￿ 8ud employees peDsion amounted LO £28,353 (2022.. £25,722). At thc start of the year Mts R Fisher ixcame a trustee of the charity. The spouse of Mrs R Fisher is Mr T Fisher. who is employeed within the charity as the Finance Manager. The ￿tal remunerdtion received including employees National Insurance and employe¢s pension anwwl￿j ￿ £19,527. Dur]ng ihe year a number of ￿￿￿te&S loaned the charity 50rne tTX)vey in order to help short i¢rm ¢8shflow, th¢s¢ ltsans were isstsed wjth 0% interest and all of them were iqjaid short]y after the paymenL ill the following month the amounts wert received. Page 27