Chaiity registration number 1119560 Company registration number 06212770 (England and Wales) KINGS COMMUNITY CHURCH (SOUTHAMPTON) ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Caladine Chartered Certified Accountanls
KINGS COMMUNITY CHURCH (SOUTHAMPTON) LEGALAND ADMINISTRATIVE INFORMATION Trustees Mr I Chiddle Ms E Curtayne Mr P Grant Mr R Hemming Mr S Mclntyre Mrs H Quarshie Mr J Tieacher Mr I Conabeer Charity number 1119560 Company number 06212770 Registered office Sovereign Place Upper Northam Road Hedge End Southampton Hampshire S030 4BZ Audltor SumerAudit Piper House 4 Dukes Court Bognor Road Chichester Wesl Sussex P019 8FX Bankers Barclays Bank plc PO Box612 Barclays House Southampton Hampshire BX3 2BB Triodos Bank NV Deanery Road Bristol BS15AS
KINGS COMMUNITY CHURCH (SOUTHAMPTON) CONTENTS Page Trustees, report Statement of trustees, responsibilities Independent audilols report Statement of financial activities 10- 11 Balance sheet Slalement of ¢ash flows 15 Notes lo the financial statements 16-36
KINGS COMMUNITY CHURCH (SOUTHAMPTON) TRUSTEES. REPORT {INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 MARCH 2025 The truslees presenl their annual report and financial statements for the year ended 31 March 2025. The financial slatements have been prepared in accordance with the accounting policies sel out in note 1 to the rinancial slalemenls and comply with the charity's Memorandum and Articles of Association, the Companies Act 2006 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102}" (effective 1 January 2019}. Objectives and activities The trustees regularly review the aims, objectives and activities of the charity. They have considered the Charity Commission's general guidance on public benefit and its supplementary guidance on the advanment of religion for the public benefit. King's Community Chur¢h Isouthamptonl is a member of the national body of the Evangelical Alliance, as well as being a part of the New Frontiers and Calalysl groups of churches. The Church is best described as a bible believing charismatic Christian church. As such. its highest purpose is lo honour Jesus Christ as Lord by seeking to love and serve God, each other in the church and those in the world around us. Specifically we aim lo.. En¢ourage spiritual growth in Christ. Provide pastoral care and fellowship. Provide opportunities lo develop ministry ability and setvice. Outreach in the community around us. Engage in international mission. We seek to further these objects by providing meetings for corporate worship, fellowship and prayer. MoTe inlimale fellowship and sharing opportunities come in the regular connect group meetings. There are specific training courses for new Christians and for various ministry ski115 useful in the church. We have a number of aclivilies for young people from the church and local community. These include events for youth and primary school aged children, Chuckles for parents and toddlers, as well as small group meetings for bible study and worship. Our aim is lo make all these meetings relevant lo young people so that they are able lo Come to a personal experience of the love of God and find expression for their faith in him. Our outreach to the community includes a ministry for the elderly, a food cenlre, as well as a variety of events that will appeal lo those who are unchurched. Church members are involved in various voluntary groups, Charitable organisations and also direct evangelical enterprises lo win people lo Christ. Again, our purpose is for people of all ages to come to a place of faith in Christ. The trustees have paid due regard lo guidance issued by the Charity Commission in deciding what activities Ihe charity should undertake. Grant making policy The trustees consider the making of grants to be an effective way of providing support primarily to overseas churches. In conjunction with the elders they review commitments each year as part of the budget setting process. If additional needs arise, these are presenled lo the church and an offering is taken up. Applications for grants are not invited. Volunteers The church is involved in a wide range of ministry to the local community and internationally. This would not be possible without the voluntary efforts of 3 large number of the church's members and the trustees are grateful for all the lime they have given. oflen sacrificially. Achievements and performance 2024- 2025 was another strong year for King s Community Church. Attendance at both Ihe 9:15am & 11am Hedge End Sunday meeting5 reached ils highest ever levels. Every Sunday from January 2025 to March 2025 was above 900 in total across the 2 Hedge end congregations plus Tolton.
KINGS COMMUNITY CHURCH (SOUTHAMPTON) TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 On several occasions the lolal lopped 1,000. Tollon has grown lo around the 80 mark on a regular basis. It has been agreed lo launch Tollon as a 5elf-governing church (Bridge Church Tollonl next financial year as of Th September 2025. 11 will exist as a CIO. Hope City {Weston> has already been established as a CIO and so exists legally and financially as a separate entity. Andy Johnston, however, as the Senior Leader of Kings Community Church continues to provide coaching and mentoring to Dave Williams (Team Leaderl and the rest of the Hope City team. The establishment of Hope City Church and the planned launch of Bridge Church Tolton are two of the big successes of King's Community Church in recent years. In the vision to reach the whole of the Solent it is imperative to have local expressions of Church as well as a large attractional model al Hedge End. The children's and youth work of the Church has continued to grow as the prioriiy of serving and equipping the next genefalion has continued lo be emphasized. On Sundays there are regularly in excess of 150 children in our pre- school and primary school activities. In addition, Tuesday night youth gathers around 100 teenagers on a weekly basis. The highlight of the youth programme is Newday, a summer camp to which the Church look 90 youn9 people in August 2024. In January 2025 a vison was laid before the Church to see £1 million cleared from our mortgage with Triodos Bank. The plan is for this lo be achievèd over 3 Special Offerings in March 2025, October 2025 and Mar¢h 2026. The first of the Special Offerings raised £340,000 and so the Church is on target lo raise the full amount in due course. In addrtion, the sale of Glenbourne (a house owned by the Church) for £508,000 has released £300,000 into over- payment of the mortgage with the remainder of the money going into funding core costs and improvement lo the Hedge End Sile. The long term aim of reducing our mortgage costs is to be able lo make more money available for serving the communities across the Solenl. We look the sad decision to close part of our elderly ministry due lo the increased skills, training and experience required of the team. Those attending wefe increasingly fragile and the requirements were becoming unachievable with unpaid slaff. The construction of a sensory room has been delayed. The Trustees have decided to pause the project until the financial picture is clearer due lo significant increases in the build cosls. 11 is our hope that this project will be completed within the next financial year. The community outreach of the Church has also increased and diversified in the period 2024-25. The Food Centre has continued lo serve families in food crisis. However. in addition lo this, a Food Pantry has been created which offers £5 for 16 item5 of food over 6 - 12 months lo families who need longer term help. Over 1.000 people have been supported through this programme. and 4 families have been able lo move on from the Pantry as they have become more financially stable. In addition, the Church has partnered with Growing Hope a national charity) lo establish Growing Hope Solent. Growing Hope Solenl a5 a CIO working in close co-operation with King's community Church will support families which have children with additional needs providing holistic and whole family therapy (occupational Iherapy, play therapy, speech and language therapy elcl. This will be achieved through our Hedge End facilities (Family Hub and our Sensory Room which will be built toward the end of 20251.
KINGS COMMUNITY CHURCH (SOUTHAMPTON) TRUSTEES. REPORT {INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Financial vIeW A subslanlial proportion of the church's income comes from the regular giving of its members for which the elders and trustees are extremely grateful. This exceeded expectations and was £1,235,603 an increase of 50/0 from the previous year {2024'.£1,173,969} Special Offering 2025 was £213,909 and was raised solely to overpay on the mortgage. This was made possible due to the sale of Glenbourne of which £200,000 was used to cover the core costs that the special offering is normally used for. Our conferencing and cafe activity has performed well and achieved a profit of £43,60812024-. £82,608). Income was broadly similar, although cost of sales was higher than the previous year. The main difference for the lower profit this year was due to increased recharged lo KCCE from KCC which included shared costs of ongoing building costs. These recharges have been eliminated from the consolidated figures. Expenditure has been kept constantly under review with the priority being lo continue as much ministry as possible within the bounds of financial prudence. As outlined in last year's accounts, one of the goals for this financial year was to sell Glenboume. We are pleased lo report that this was sold in March 2025. It was sold for £508,000, with £300.000 going lo Triodos as an ovérpayment on the mortgage and £200,000 (after fees) available lo the church lo help cover ils core Costs. ReseNes The total funds held by Ihe charitable group at the balance sheet dale are £3,411,194 (2024.. £3,388,938). Included in this are £114,29912024'. £113,339} held in restricted funds and £2.933.12212024. £2,844.9531 held in designated funds. The trustees have considered a number of factors in reviewing the level of reserves required.. The current economic climate The level of regular giving by church members The requirement for working capital The amount of reserves tied up in fixed assets The ability lo raise additional funds should the Church face financial difficulty The trustees consider that Ihe level of free resetves, after allowing for unrestri¢ted reserves lied up in fixed assets and investments, should be between one and three months expenditur8. Free reserves are £315,576 for the Church and £361,666 for the group, which is around 2.5 months of expenditure. The trustees have a risk management strategy that includes an annual review of the principle risks and uncertainties facing the charity and ils subsidiaries and the eslablishmenl of polioes and procedures to miligale those risks. Plans for future periods The trustees feel we are well placed to continue our growth strategy and fulfil our mission of preaching the gospel across the Solenl area. Our objectives for the coming year are.. To see significant numerical growlh through people coming to faith in Jesus., To hold large scale evenls at Christmas and Easter. reaching and impacling the community,. To raise £1 m in our Special Offering campaign "£1 m to reach 1 million people" To start the build of the sensory room project", Continue to overpay on the mortgage.
KINGS COMMUNITY CHURCH (SOUTHAMPTON) TRUSTEES. REPORT {INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Structure. governance and management The church was originally established by a Declaration of Trust daled 20 January 1986 and the assets and liabilities were transferred lo Kings Community Church ISoulhamplon}, a company limited by guarantee, on 1 April 2008 in order to improve Ihe administration of the charily. The trustees, who are also the directors for the purpose of company law. and who served during the year and up to the dale of signature of the financial statements were.. Mr I Chiddle Ms E Curtayne Mr P Grant Mr R Hemming MsSLau Mr S Mclnlyre Mrs H Quarshie Mr J Treacher Mr I Conabeer (Resigned 5 November 2024) The elders of the church are the members of the company and they appoint the trustees, who remain in office thereafter. The trustee5 of the charity are drawn from the active members of the church with the appropriate skills for Board membership. None of the Irustees has any beneficial interest in the company. The elders of the church are the members of the company and guarantee to contribute £1 in the event of a winding The training of elders and trustees is discussed at their meetings and the church budget includes provision for the costs of any required training lo be met. The Injstees focus their attention on slralegi¢ and policy issues including key financial decisions. The day lo day management of the charity is delegated to a management team consisting of Andrew Johnston, Chris Johnston and Emma Roberts. Spiritual matters are overseen by the elders of the church. The trustees meet from time lo time with the elders lo ensure that strategy and policy are consislenl with Ihe spiritual aims of the church. The elders of the ¢hurch during the year were. Sam Afari Christopher Allison John Banks Nicholas Brennan Martin Hughes (resigned 1 April 2024) Andrew Johnston Christopher Johnston Victor Lau Maurice Redmill (resigned 24 November 20241 Tom Williams The remuneration of key management is reviewed annually by the Trustees. Each role within the church is subjed lo an evaluation process thal considers its responsibilities and the skills and experience required to fulfil it. Pay scales are wmpared with the market and similar organisalions. Pay levels are generally set below the average for the private & public sectors. The Trustees have adopled the Charity Governance Code and used an assessment lemplale to understand the current level of compliance. An improvement action plan has been prepared and progress will be monitored during the coming year.
KINGS COMMUNITY CHURCH (SOUTHAMPTON) TRUSTEES. REPORT {INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 The church has one wholly owned subsidiary. KCC Enterprises Ltd, which undertakes commercial activities on behalf of the church. Asset Cover for funds Note 27 sets out an analysis atlribulable to the various funds and a description of Ihe trusts. These asset5 are sufficient to meet the charity s obligations on a fund by fund basis. Auditor The auditor, SumerAudit, is deemed to be re-appointed under $48712) of the Companies Act 2006. D16closure of Infomiatlon to audltor Each of the Trustees has confirmed that there is no Information of which they are aware which is relevant to the audit, bul of which the auditor is unaware. They have further confirmed that they have taken appropriate sleps to identify any such relevant information and to establish that the auditor is aware of such information. This report has been prepared in accordance with the special provisions relating to small compani85 Within Part 15 of the Companies Act 2006. The trustees, report was approved by the Board of Trustees. Mr J Treacher Trustee Dale: l.l..l.i!.Iz02£...
KINGS COMMUNITY CHURCH (SOUTHAMPTON) STATEMENT OF TRUSTEES, RESPONSIBILITIES FOR THE YEAR ENDED 31 MARCH 2025 The trustees. who are also the directors of Kings Community Chufch (Soulhamplon) for the purpose of company law, are responsible for preparing the Trustees, Report and the fi'nancial slalemenls in accordance with applicable law and United Kingdom Accounting Standard5 {Uniled Kingdom Generally Accepted Accounting Praclicel. Company Law requires the trustees to prepare financial slatemenls for each financial year which give a true and fair view of the slate of affairs of the charily and of the incoming resources and application of resources, induding the income and expenditure, of the charitable company for Ihat year. In prepanng Ihese financial slatementS, the trustees are required to-. select suitable accounling policies and then apply them consistently., observe the methods and principles in Ihe Charities SORP-, make judgements and estimates that are reasonable and prudent., slate whether applicable UK Accounting Standards have been followed, subjed lo any material departures disclosed and explained in the financial slalemenls; and prepare the financial statements on the going ¢on¢ern basis unless il is inappropriate lo presume that the charity will continue in operation. The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any lime the financial position of the charity and enable them to ensure Ihal the financial slalements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
KINGS COMMUNITY CHURCH (SOUTHAMPTON) INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF KINGS COMMUNITY CHURCH (SOUTHAMPTON) Opinion We have audited the financial statements of Kings Community Church (Southamplon} (the 'charily'} for the year ended 31 March 2025 which comprise Ihe statement of financial aclivilies, the balance sheet, the statement of cash flows and the noles to the financial statements. including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ir81and (United Kingdom Generally Accepted Accounting Practice}. In our opinion, the financial statements.. give a true and fair view of the state of Ihe charitable company and group's affairs as at 31 March 2025 and of ils incoming resources and application of resotjrces, including its income and expenditure, for the year then ended., have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practi¢e', and have been prepared in accordance with the requirements oflhe Companies Act 2006. Basls for opinion We conducted our audit in accordance with International Standards on Auditing (UK) IISAS {UK)l and applicable law. Our responsibilities under those standards afe further described in the A(Iditorfs responsibili118s for th8 aiidit ol the financial statements section of our report. We are independent of Ihe charity in accordance with the ethical requirements that are relevant lo our audit of the financial statements in the UK, including the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate lo provide a basis for our opinion. Conclusions relating to going concem In auditing the financial slatemenls, we have concluded that the trustees, use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed. we have not identified any material uncertainties relating lo events or ondilions that, individu211y or collectively, may cast significant doubl on the charity's ability lo continue as a going ¢on¢ern for a period of at least twelve months from when the financial statements are authorised for Issue. Our responsibilities and the responsibilities of the trustees with respect lo going concern are described in thé relevant sections of this report. Other information The truslees afe responsible for the other informalion. The other information comprises the information included in the annual report, other than the financial Statements and our auditor's report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly slated in our report, we do not express any form of assurance conclusion Ihereon. In connection with our audit of Ihe financial slalements. our responsibility is to read the other information and, in doing so, consider whelher the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstalemenls, we are required to determine whether Ihere is a material misstatement in the financial statements or a material misstalemenl of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing lo report in this regard. Opinions on other matters prescribed by the Companies Act 2006 In our opinion, based on the work undertaken in the course of our audit.. the information given in the truslees, report for the financial year for which the financial statements are prepared, which includes the directors. report and Ihe strategic report prepared for the purposes of company law, is consistenl with the financial statemenls", the strategic report and the directors. report included within the Iruslees, report have been prepared in accordance with applicable legal requirements.
KINGS COMMUNITY CHURCH (SOUTHAMPTON) INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF KINGS COMMUNITY CHURCH {SOUTHAMPTON) Matters on which we are required to report by exception In the light of the knowledge and understanding of the charity and ils environment obtained in Ihe course of the audit, we have not identified material misslatemenls in the strategic report or the directors, report included within the trustees, report. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us lo report to you if, in our opinion.. adequate accounting records have not been kept, or returns adequale for our audit have not been received from branches not visited by us., or the financial statements are not in agreement with the accounting records and returns., or certain disclosures of trustees, remuneration specified by law are not made., or we have nol received all Ihe information and explanations we require for our audit. the Iruslees were not entitled to prepare the financial statements in accordance wilh the small companies regime and lake advantage of the small companies, exemptions in preparing the trustees, report and from the requirement lo prepare a strategic report. Responsibilities of trustees As explained morè fully in the statement of trustees, responsibilities, the Iruslees, who are also the directors of the harily for the purpose of company law, are responsible for the preparation of the financial slalements and for being satisfied that they give a true and fair view, and for such internal control as the Iruslees determine is necessary to enable the preparation of financial statements that are free from material misslalemenl, whether due to fraud or error. In preparing the financial slatemenls, the trustees are responsible for assessing the charity's ability to continue as a going concern, disclosing, as applicable, matters related lo going concern and using the going concern basis of accounting unless the Iruslees either intend lo liquidate the charitable company or to cease operations, or have no realistic alternative bul to do so. Auditorfs responsibilities for the audit of the financial statements Our objectives are lo obtain reasonable assurance about whether the financial slalemenls as a whole are free from material misslatemenl, whether due lo fraud or error, and lo issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance bul is not a guarantee that an audit conducted in accordance with ISAS {UK} will always dele¢t a material misstalemenl when it exists. Misstatements ¢an arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to inlluence the economi¢ decisions of users laken on the basis of these financial statements. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, lo delect material misstatements in respect of irregularities, induding fraud. The extent lo which our procedures are capable of detecting irregularilies, including fraud, is detailed below. Identification and assessment of irregularities including fraud In identifying and assessing risks of material misslalemenl in respect of irregularities, including fraud and non- compliance with laws and regulations, our procedures included the following.. Obtaining an understanding of the legal and regulatory framework that the charity operales in, focusing on those laws and regulations that had a direct effect on the financial statements and operations., Obtaining an understanding of the charity's policies and procedures on fraud risks, including knowledge of any actual, suspected or alleged fraud., Discussing among the engagement team how and where fraud might occur in the financial statements and any potential indicators of fraud Ihrough our knowledge and understanding of the company and our sector- specific experience. As a result of these procedures, we considered Ihe opportunities and incentives that may exisl within the association for fraud. We are also required to perform specific procedures lo respond to the risk of management override_ As a result of performing the above, we identified the following areas as those most likely to have an impact on the financial statements- health & safety and employment law, as well as compliance with the UK Companies and Charities Acls.
KINGS COMMUNITY CHURCH (SOUTHAMPTON) INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF KINGS COMMUNITY CHURCH (SOUTHAMPTON) In addition lo the above. our procedures to respond lo risks identified included the following- Making enquiries of managemenl about any known or 5uspecled instances of non-compliance with law5 and regulations and fraud-, Reviewing minutes of Ineelings of the board and senior management. Reading correspondence with regulators Challenging assumptions and judgements made by management in their significant accounting eslimales., and Auditing the risk of manag8menl overrlde of controls, includlng through te51ing journal entrles and other adjuslmenls for appropriateness. Due lo the inherent limitations of an audit. Ihere is an un8voidable risk Ihal some material misstatements in the financial statements may not be d8t8cled, even though the audit is properly planned and performed in accordanca with the ISAS IUK}. For inslanGe, the further removed non-compliance is from the events and Iransaclion5 reflected in the financial slalemenls, the less likely Ihe auditor is Ic become aware of il or lo rècognise the non-compliance. A further description Gf our responsibilities is available on the Financial Reporting Council's website al.. htlps'.11 www.frc.org.uklaudilorsr8sponsibililies. This déscription forms part of our auditor's report. Use of our rèport Thi5 report is mède solely to the charitable company's members, as a body, in acco[dan wilh Chapter 3 of P3rt 16 of the CofflpaTries Act 2006. Our audit work has been undertaken so thal we mlghl stale lo Ihe charitable company's members those mallers we are required lo slate lo them in an auditor's report and lor no other purpose. To the fullest extent permilled by law. we do not accept or assume responsibility lo anyone other than the chadiable cornpany and the charitable company's membeT5 a5 a boily, lor our dudil work, for this report, 01 for the opiriion5 we have formed. Robln Evans BA FCA CTA DChA {Senlor Statutory Auditor) for and on behalf of Sumer Audlt Chartefed Certified Accountants Slalutory Auditor Piper House 4 Dukes Court 8ognor Road Chi¢hesler Wesl Sussex P0198FX Sumer Audit 13 a trading name of Surner Audilco Limited
KINGS COMMUNITY CHURCH (SOUTHAMPTON) STATEMENT OF FINANCIAL ACTIVITIES {CONSOLIDATED) INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2025 Unrestricted Restrictsd funds funds 2025 2025 Total Unrestricted Restricted funds funds 2024 2024 Total 2025 2024 Notes Income from: Donations and legacies Charitable activities Other trading activities Investments Other income 1,316,224 30,637 60,035 905 1,376,259 31.542 1,137,243 46.010 59,726 570 1,196,969 46,580 291,409 4,645 53,665 291,409 4,645 53,665 295,941 3,213 114,977 295,941 3.213 114.977 Total Income 1,696,580 60,940 1.757,520 1,597,384 60,296 1,657,680 nditure on: Raising funds 204,671 204,671 198,730 198,730 Charitable activities 1,460,453 70.140 1,530,593 1,334,305 72,505 1,406,810 Total expenditure 1,665,124 70,140 1,735.264 1,533.035 72,505 1,605,540 Net incominglloutgoingl resources before transfers 31,456 {9,200) 22,256 64,349 (12,209) 52,140 Gross transfers between funds 25 110,160) 10,160 1,263 (1,263) Net income for the yearl Net incomel(expenditure} for the year Net movement in funds 21,296 960 22,256 65,612 113,472} 52,140 Fund balances at 1 April 2024 3,275,599 113,339 3.388,938 3,209.987 126,811 3,336,798 Fund balances at 31 March 2025 3.296,895 114,299 3,411,194 3,275,599 113,339 3,388,938 All income and expenditure derive from continuing aclivilies. The statement of financial aclivilies also complies with the requirements for an income and expendilure accounl under the Companies Act 2006. 10-
KINGS COMMUNITY CHURCH (SOUTHAMPTON) STATEMENT OF FINANCIALACTIVITIES (CHARITY ONLY) INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2025 Unrestri¢ted Restricted funds funds 2025 2025 Total Unrestricted Restricted funds funds 2024 2024 Total 2025 2024 Notes Income from: Donations and legacies Charitable activities Investments Other income 1,316,224 30,637 88,306 96,795 60,035 905 1,376,259 31,542 88,306 96.795 1,137,243 46,010 79,085 129,579 59,726 570 1,196,969 46,580 79,085 129,579 Totsl income 1,531,962 60,940 1,592,902 1,391.917 60.296 1,452,213 Ex endlture on: Charitable activities 1.480.453 70,140 1,530,593 1,334,305 72,505 1,406,810 Totsl expenditure 1,460,453 70,140 1,530,593 1.334,305 72,505 1,406,810 Net incorningl{outgoingl re$ourGes before tran3fer3 71,509 (9,200} 62,309 57,612 112,209) 45.403 Gross transfers between funds 25 (10,160} 10,160 1,263 (1,263> Net Income for the yearl Net incomellexpenditurel for the year Net movement in funds 61,349 960 62,309 58,875 {13,472} 45,403 Fund balances at 1 April 2024 3,187,350 113,339 3,300,689 3,128,475 126,811 3,255,286 Fund balances at 31 March 2025 3,248,699 114,299 3,362,998 3,187,350 113,339 3,300,689 All income and expenditure derive from continuing activities. The slatement of financial activities also complies with the requirements for an income and expenditure account under the CompaniesAcl 2006. 11
KINGS COMMUNITY CHURCH (SOUTHAMPTON) BALANCE SHEET {CONSOLIDATED) AS AT 31 MARCH 2025 2025 2024 Notes Fixed assets Tangible assets Investment property 17 4,743,617 4,781,017 495,000 4,743,617 5,276,017 Current assets Stocks Debtors Cash al bank and in hand 19 20 3,272 124,987 670,367 2,581 113,423 521,427 798,626 637,431 Creditors: amounts falling due wlthln one year 22 (169,254} {157,452} Nel current assets 629,372 479,979 Total assets less current liabilities 5.372,989 5,755,996 Creditors: amounts falling due after more than one year 21 {1.961,795} 12,367,058) Net assets 3,411,194 3,388,938 Income funds Reslricled funds Unreslrict Designated funds: Fixed Asset fund Mortgage fund Sick pay reserve 25 114,299 113,339 2,688,122 228,000 17,000 2,812,953 15,000 17,000 26 2,933,122 363,773 2,844,953 430,646 General unrestricted funds 3,296,895 3,275,599 3,411.194 3,388,938 These financial slalemenls have been prepared in accordance with the provisions applicable lo companies subject to the small companies regime. 12-
KINGS COMMUNITY CHURCH (SOUTHAMPTON) BALANCE SHEET (CONSOLIDATED) ASAT31 MARCH 2025 The financial slatements were approved by the Trustees on .l.}.li IJ i&.! &. Mr J Tacher Trustea Company reglstratlon number 06212770 13-
KINGS COMMUNITY CHURCH (SOUTHAMPTON) BALANCE SHEET (CHARITY ONLY) AS AT 31 MARCH 2025 2025 2024 Notes Fixed assets Tangible assets Investment propety Investments 17 4,741,511 4,777,858 495,000 1,000 18 1,000 4.742,511 5.273,858 Current assets Stocks Debtors Cash al bank and in hand 19 20 917 161,049 582,003 110,194 438.416 743,969 548.610 Creditors: amounts falling due within one year 22 (161,687} (154,721) Nel current assets 582,282 393,889 Total assets less current liabilities 5,324,793 5,667,747 Creditors: amounts falling due after more than one year 21 (1,961,795) 12.367,058} Net assets 3,362,998 3.300,689 Income funds Restricted funds Unreslricled funds Designated funds.. Fixed Asset fund Mortgage fund Sick pay reserve 25 114,299 113,339 2,688,122 228,000 17,000 2,812,954 15,000 17,000 26 2.933,122 315,577 2,844,954 342,396 General unreslricled funds 3,248,699 3.187,350 3,362,998 3.300,689 14-
KINGS COMMUNITY CHURCH (SOUTHAMPTON) STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2025 2025 2024 Notes Cash Ilows from operating activities Cash generated from operations 31 151,424 240,101 Investing activities Purchase of tangible fixed assets Proceeds from disposal of investment property Investment income received {102,962) {6,809} 501,096 4,645 3,213 Net cash generated fromllused in) Invèsting activities 402,779 {3,5961 Financing activities Repayment of bank103ns (405,2631 {77.8991 Net cash used In flnanclng actlvltles (405,263) 177,899) Net increase In cash and cash equivalenls 148,940 158,606 Cash and cash equivalents at beginning of year 521,427 362,821 Cash and cash equivalents at end of year 670,367 521,427 15-
KINGS COMMUNITY CHURCH (SOUTHAMPTON) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Accounting policies Company information Kings Community Church (Southampion) is a private company limited by guarantee incorporated in England and Wales governed by ils Memorandum and Articles ofAssociation dated 13 April 2007. The registered office is Sovereign Place, Uppei Northam Road, Hedge End. Soulhampton, Hampshire. S030 48Z. 1.1 Accounting convention The financial statements have been prepared in accordance with the charity's governing document, the Companies Act 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland. ("FRS 102.1 and the Charities SORP "Accounting and Reporting by Charities.. Slalement of Recommended Practice applicable lo charities preparing their accounts in accordance with the Financial Reporting Slandard applicable in the UK and Republic of Ireland (FRS 1021" (effeclive 1 January 2019). The charity is a Public Benefit Enlily as defined by FRS 102. The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded lo the nearest £. The financial statements have been prepared under the historical cost convenlion, modified lo include the revaluation of freehold properties and lo include investment properties and certain financial instruments al fair value. The principal accounting policies adopted are sel out below. 1.2 Going concern Al the lime of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources lo continue in operational existence for the foreseeable future, and no material uncertainties exist regarding this assumption. Thus the Iruslees continue lo adopl the going concern basis of arxounling in preparing the financial statements. 1.3 Charitsble funds Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives. Designated funds comprise funds which have been sel aside al Ihe dis¢retion of the Iruslees for specific purposes. The purposes and uses of the designated funds are set out in the notes to the financial statements. Reslricled funds are subject lo specific conditions by donors as lo how they may be used. The purposes and uses of the reslricled funds are set out in the notes to the financial slalemenls. 1.4 Income Income including grants is recognised when the charily is legally enlilled to rt after any performance conditions have been mel, the amounts can be measured reliably, and it is probable that income will be received. Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income lax recoverable in relation lo donations received under Gift Aid or deeds of covenanl is recognised at Ihe lime of the donation. Legacies are recognised on receipt or otheMise if the charity has been notified of an impending dislribulion, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a conlingenl asset. 16-
KINGS COMMUNITY CHURCH (SOUTHAMPTON) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Accounting policies {Continued) 1.5 Expenditure Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, il is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably. Expenditure is dassified by activity. The costs of each activily are made up of the total of direct costs and shared costs, including support costs involved in undertaking each aclivily. Direct costs attributable to a single activity are allocated directly lo that aclivily. Shared costs which contribute lo more than one activity and support costs which are not altribulable lo a single aclivily are apportioned beeen those activities on a basis consislenl with the use of resources. Central staff costs are allocated on the basis of lime spent, and depreciation charges are allocated on the portion of the asset's use. 1.6 Tangible fixed assets Tangible fixed assets are initially measured al cost and subsequently measured at cost or valualion. net of depreciation and any impaiimenl losses. Depreciation is recognised so as lo write off the cost or valuation of assets less their residual values over their useful lives on the following basis.. Freehold land and buildings Fixtures and fittings Motor vehicles 24/4 Straight Line 20 % straight Line 20 % Reducing Balance The gain or loss arising on the disposal of an asset is determined as the difference beeen the sale proceeds and the carrying value of the asset, and is recognised in the slalement of financial aclivilies. Assets purchased are capilalised if they are anticipated lo be used within the Church's activities for at least 12 months, and cost in excess of £1,000 Inel of VAT). 1.7 Investment property Investment property, whi¢h is pioperty held to earn rentals andlor for capital appreciation, is initially recognised at cost. which include5 the purchase cost and any directly allributable expenditure. Subsequently il is measured at fair value at the reporting end dale. The surplus or deficit on revaluation is recognised in profit or loss. 1.8 Impairment of fixed assets Al each reporting end date, the charity reviews the carrying amounts of ils tangible assets lo determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extenl of the impairment loss {if any}. 1.9 Stocks Stocks are stated at the lower of cost and estimated selling price less costs to complele and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks lo their present location and condition. Items held for distribution at no or nominal consideration are measured the lower of replacement C05t and cost. Net realisable value is the eslimated selling price less all estimated costs of completion and costs to be incurred in marketing, Selling and dislribution. 17
KINGS COMMUNITY CHURCH (SOUTHAMPTON) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Accounting policios (Continued) 1.10 Cash and cash equivalents Cash and cash equivalents include cash in hand, deposits held at call with banks, olher short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in Gurrent liabilities. 1.11 Financial instruments The charity has elected lo apply the provisions of Section 11 'Basic Financial Instruments, and Section 12 'Other Financial Instruments Issues, of FRS 102 to all of its financial instruments. Financial instruments are recognised in the charity's balance sheet when the charity becomes party lo the contractual provisions of the instrument. Financial assets and liabilities are offset, with Ihe nel amounts presented in the financial slatemenls, when there is a legally enforceable right lo sel off the recognised amounts and Ihere is an intention lo sellle on a net basis or lo realise the asset and settle the liability simultaneously. Basic financial assets Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured al the present value of the future receipts discouriled at a market rale of interest. Financial assets classified as receivable within one year are not amortised. Baslc financial liabilities Basic financial liabilities. including creditors and bank loans are initially recognised at transaction price unless the arrangement conslilules a financing transaction, where Ihe debt instrument is measured al the present value of the future payments discounted at a market rale of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried al amortised cost, using thé effective interest rate method. Trade creditors are obligations lo pay for goods or services that have been acquired in th8 ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-currenl liabilities. Trade creditors are recognised initially al transaction price and subsequently measured at amortised cost using the 8ffeclive interest method. Derecognition of financial liabilities Financial liabilities are derecognised when the charity's contractual obligations expire or are discharged or cancelled. 1.12 Employee benefits The cost of any unused holiday enlitlemenl is recognised in the period in which the employee's services are received. Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits. 1.13 Retsment benefits Payments to defined contribution retirement benefil schemes are charged as an expense as Ihey fall due. 18-
KINGS COMMUNITY CHURCH (SOUTHAMPTON) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Critical accounting estimates and judgements In the application of the charity's accounting policies. the Irustees are required to make judgemenls, eslimales and assumptions aboul the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ Irom these estimates. The estimates and underfying assumptions are reviewed on an ongoing basis. Revisions lo accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods. 19-
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KINGS COMMUNITY CHURCH (SOUTHAMPTON) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Other trading activities Unrestricted Unrestricted funds funds 2025 2024 Non-charitable trading activities via subsidiary company 291,409 295,941 Investments Unrestricted Unrestricted funds funds 2025 2024 Interest receivable 4,645 3.213 The charity only Slalemenl of Financial Activities also includes distributions received from the trading subsidiary of £83,661 12024.. £75,872). Other income Unrestrlcted Unrestricted funds funds 2025 2024 Net gain on disposal of tangible fixed assets Car park rental and miscellaneous income Office rent income 6.096 34,902 12,667 27,744 87,233 53,665 114,977 The charity only Slalemenl of Financial Activities also includes a recharge lo the subsidiary for rent, utilities and adminislralion support of £43,12912024-. £14,602). 22-
KINGS COMMUNITY CHURCH {SOUTHAMPTON) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Expenditure on raising funds Unrestricted Unrestricted funds funds 2025 2024 Trading costs Operating Irading company undertaking non-charitable trading activity Staff costs Support costs 69,489 133,169 2,013 86,441 104,839 7,450 204.671 198.730 Charltable activities Church Youth Work Communitylntsrnational Activities outreach outreach Total 2025 Total 2024 2025 2025 2025 2025 Staff costs Activities undertaken directly Pastoral costs Office and adminislralion costs Property & equipment running and maintenance 342,561 79,524 42,821 6,117 471,023 454,159 42,144 2,684 37,116 130 144,236 163 6,622 230,118 2,977 115,427 3,922 6,577 46 1,937 8,560 7,139 97.869 2,650 13,647 10 114,176 82,955 491,835 119,468 202,804 12,749 826,854 663,602 Grant funding of aGtivities {see note 10) 9,104 100 35,827 45.031 69,978 Share of support costs {see note 111 Share of governance costs (see note 11) 436,863 106,042 81,237 11,317 635,459 653,680 15,983 3,880 2.972 414 23,249 19,550 953,785 229,388 287,113 60,307 1.530,593 1,406,810 Analysis by fund Unreslricted funds Reslricted funds 950,581 3,204 229,388 251,870 35,243 28,614 1,460,453 31,693 70,140 1,334.305 72,505 953,785 229,388 287.113 60,307 1,530,593 1,406,810 -23-
KINGS COMMUNITY CHURCH (SOUTHAMPTON) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Charitsble activities (Continued) Forthe year ended 31 Marth 2024 Church Youth Work Communitylnternational Activities outreach outreach Totsl 2024 Staff costs Aclivilies undertaken direclly Pastoral costs Office and administration costs Property & equipment running and maintenance 330,298 45,538 3,453 4,944 76,676 38,727 52 {23) 41,287 27,437 417 2,190 5,898 3,725 454,159 115,427 3,922 7.139 28 74,325 1,762 6.865 82.955 458,558 117,194 78.196 9,654 663,602 Grant funding of activities (see note 101 8.627 4,823 56,528 69,978 Share of support costs (see note 11 } Share of governance costs (see note 111 440.322 13,169 121.234 3,626 83,029 2,483 9,095 272 653,680 19,550 920,676 242,054 168,531 75,549 1,406,810 Analysis by fund Unrestricted funds R8Stricled funds 915,984 4,692 242,054 132.352 36,179 43,915 1.334.305 31.634 72.505 920,876 242,054 168,531 75.549 1,406.810 24-
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KINGS COMMUNITY CHURCH (SOUTHAMPTON) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 11 Support costs Support Govemance costs costs 2025 Support Governance costs costs 2024 Staff costs Oepreciation Olher costs Pastoral costs Office and adminislralion costs Propety & equipment running and maintenance Grant r81ated costs 140,698 139,309 12,435 1,220 140,698 139,309 12,435 1,220 135,659 159,319 16,852 902 135,659 159,319 16,852 902 253,355 253,355 262.885 262,885 82,564 5,878 82,564 5,878 70,689 7,374 70,689 7,374 Audit fees Accountancy Legal and professional 9.500 15,749 13 9.500 15,749 6,040 14,560 6,400 6,040 14,560 6,400 635,459 25,262 660,721 653,680 27,000 680,680 Anal sed between Trading Charitable activities 2,013 23,249 2,013 658,708 7,450 19,550 7,450 673,230 635,459 653,680 635,459 25,262 660,721 653,680 27,000 680,680 12 Trustees The Articles of Association provide for a minority of Ihe trustees to be paid. None of the Iruslees received any remuneration during the year for their role as trustees. During the previous year, one trustee received a payment of £152 for casual work done during the period of their Irusleeship. In 2024, this was paid through the payroll, and lotalled £1,835. Emma Curtayne has been employed as a Children's Work and her total remuneration for the year was £16.718 {2024.' £16,014). Total expenses of £476 were reimbursed lo trustees, and their felaled parties, for Church running and operational costs (2024 £4071. Identifiable donations from trustees, and their related parties, amounled lo £44,677 during the year12024.' £46,409). This excludes amounts where the donor is nol identifiable, where the donations were given in cash etc. -26-
KINGS COMMUNITY CHURCH (SOUTHAMPTON) NOTES TO THE FINANCIAL STATEMENTS {CONTINUED> FOR THE YEAR ENDED 31 MARCH 2025 13 Employees The average monthly number of employees during the year was.. 2025 Number 2024 Number Church aclivilies Youth work Community outreach Management and administration Subsidiary companies Total 20 19 Employment costs 2025 2024 Wages and salaries Social security costs Other pension costs 674,839 41,606 28,445 634,465 33,483 26,709 744,890 694,657 During the previous year there were redundancy costs of £5.951 {2025.' £nill. The number of employees whose annual remuneration was more than £60,000 is as follows. 2025 Number 2024 Number £60,000 10 £70,000 14 Retirement benefit scheme5 Defined contribution schemes The charity operates a defined contribution pension scheme for all qualfying employees. The 3s5els of the scheme are held separately from those of the charity in an independently adminislered fund. The charge to profit or loss in respect of defined contribution schemes was £28,445 {2024-. £26,709). 15 Taxation The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxalion of Chargeable Gains Acl 1992 lo Ihe extent Ihal these are applied lo ils charitable objects. -27-
KINGS COMMUNITY CHURCH (SOUTHAMPTON) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 16 Net movement in funds 2025 2024 The net movement in fvnds is staled after chargingl(crediting}= Fees payable for the audit of the charity's financial slalemenls Depreciation of owned tangible fixed assets Profit on disposal of tangible fixed assets 9,500 140,362 16,096) 6,040 160,372 28-
KINGS COMMUNITY CHURCH (SOUTHAMPTON) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 17 Tangible fixed assets Group Freehold Fixtures and land and fittings buildings Motor vehicles Totsl Cost At 1 April 2024 Additions Disposals 6,169,873 71,766 548,032 31,196 {8,9141 4.000 6,721,905 102,962 {8.914) At 31 March 2025 6,241,639 570,314 4,000 6,815,953 Depreclatlon and impaimient Al 1 April 2024 Depreciation charged in the year Eliminated in respecl of disposals 1,424.614 115,522 512.274 24,840 18,914) 4,000 1.940,888 140,362 (8,914) Al 31 March 2025 1,540,136 528,200 4,000 2,072,336 Carrying amount At 31 March 2025 4,701,503 42,114 4,743,617 At 31 March 2024 4,745,259 35,758 4,781,017 Charity only FreeholdFlxtures and land and rittings buildings Motor vehicles Totsl Cost Al 1 April 2024 Additions Disposals 6,169,873 71,766 502,979 31.196 (8.914} 4,000 6,676,852 102,962 18.914} At 31 March 2025 6,241,639 525,261 4,000 6,770,900 Depreciation and impairment At 1 April 2024 Depreciation charged in the year Eliminated in respect of disposals 1,424,614 115,522 470.380 23.787 (8.914} 4,000 1,898,994 139,309 (8,914} At 31 March 2025 1,540,136 485,253 4,000 2,029,389 Carrying amount At 31 March 2025 4,701,503 40,008 4,741,511 At 31 March 2024 4,745,259 32,599 4,777,858 -29-
KINGS COMMUNITY CHURCH (SOUTHAMPTON) NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 17 Tangible fixed assets (Continued) The freehold land and buildings are subjecl to a charge in favour of Triodos Bank NV. 18 Fixed asset investments Charity only Investment Other propety investments Total Cost or valuation Al 1 April 2024 Disposals 495,000 (495,0001 1,000 496,000 (495,0001 At 31 March 2025 1,000 1.000 Carrying amount Al 31 March 2025 1,000 1,000 Al 31 March 2024 495,000 1,000 496,000 19 Stocks Group 2025 Charity 2025 Group 2024 Charity 2024 Finished goods and goods for resale 3,272 917 2,581 20 Debtors Group 2025 Charity 2025 Group 2024 Charity 2024 Amounts falling due within one year: Trade deblors Amounts Dwed by subsidiary undertakings Other debtors Prepayments and accrued income 11,488 2,074 46,026 109,733 3,216 23,828 4,055 17,382 76,634 12,123 109,733 3,786 76.634 12,961 124,987 161,049 113.423 110,194 21 Creditors: amounts falling due after more than one year 2025 2024 Notes Bank loans 23 1,961,795 2.367,058 -30-
KINGS COMMUNITY CHURCH (SOUTHAMPTON) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 22 Creditors: amounts falling due within one year Group 2025 Chaiity 2025 Group 2024 Charity 2024 Notes Bank loans Other taxation and social security Trade creditors other creditors Accruals and deferred income 23 84.450 16,490 16,771 5,961 45,582 84,450 16,490 15,533 5,961 39,253 84,450 10,654 23,554 4,769 34,025 84,450 10,654 21,873 4,769 32,975 169,254 161,687 157,452 154,721 23 Loans and overdrafts 2025 2024 Bank loans 2,046,245 2,451,508 Payable within one year Payable after one year 84,450 1,961,795 84,450 2,367,058 Amounts included above which fall due after five years.. Payable by inslalments 892,941 1,060,157 The Church has a long term loan from Triodos Bank NV, which is secured on its freehold land and buildings. The loan is at a variable interest rale of base rate + 2.750/0 and is repayable on a reducing balance basis. On 9 April 2020 it was agreed that between April 2020 and Maroh 2021 there would be monthly interest only repayments. There would then be interest and capital repaymen15 until August 2039. During the year there were inlerest payments on this loan of £185,527 {2024'. £194,680). 24 Operating lease commitments Al the reporting end dale the charity had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows.. 2025 2024 Within one year Between two and five years 1,380 2,831 1,380 4.139 4,211 5,519 31
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KINGS COMMUNITY CHURCH (SOUTHAMPTON) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 26 Designated funds The income funds of the charily indude the following designated funds which have been Set aside out of unreslricled funds by the Irustees for specific purposes.. Group Balance at 1 Aprll 2023 Resourcos axp•nd8d Transfars Balance at 1 Aprll 2024 Resourc95 expended Transfars Balance at 31 March 202S Fixed asset fund Mortgage fund Sick Pay reserve 2,895,960 {159.319) 76,313 2.812,953 {139.309} 14,478 2,688,122 15,000 15,000 213.000 228,000 17.000 17,000 17,000 2,895,960 (159,319} 108,313 2,844,953 1139,3091 227,478 2,933,122 Charity Balanca at 1 Aprll 2023 Resourcès exnded Transf•r8 Balan¢• at 1 Aprfl 2024 R&sour¢e$ exnded Transfern Balance at 31 March 2025 Fixed asset fund Mortgage fund Sick Pay reserve 2,895,960 {159,319) 78,313 2.812,953 {139,3091 14,478 2,688.122 15,000 15,000 213,000 228,000 17,000 17,000 17,000 2,895,960 (159,319) 108,313 2,844,953 (139,3091 227,478 2,933,122 The Fixed Asset Fund is a designated fund Ihal represents reserves invested in fixed assets and investments and, therefore, not generally available for use. The fund balance also accounts lor the balance outstanding on the mortgage, which is charged against the property. The movements in the year reflect the depreciation expense, as well as changes in value. The trustees have also decided lo sel aside funds towards early payment of the mortgage, as well as £17,000 lo cover possible sick pay costs going forward. -33-
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KINGS COMMUNI CHURCH (SOUTHAMPTON) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 28 Subsidiaries These financial statements are consolidated charity financial statements for Ihe King's Community Church ISouthamplon} group. Delails of the charity's subsidiaries at 31 March 2025 are as follows.. Name of undertaking Registered office Nature of business Class of sharns held /• Held Direct Indirect KCC Enterprises Ltd England Corporate events and running Ordinary of a cafe 100.00 The results for KCC Enterprises Lld have been consolidated into these accounts. wilh ¢harity-only figures shown for Clarity. In the charily-only Balance Sheet, Ihe investment is slated at cost. The registered office of KCC Enterprises is Ihe same as the parent. Its company number is 7992952. The accounts for KCC Enterprises Ltd show the following information al 31 March 2025 and for the year then ended.. Total assets Total liabilities Total funds 102,789 153,593 Total turnover Total expenditure ProfiV{Loss) for the year) 291.410 {247,802} 29 Related party transactions Remuneration of key management personnel The remuneration of key management personnel is as follows. 2025 2024 Aggregale compensation 124,201 146.225 During the year the spouse of a trustee was employed, in operational Church duties. The salary paid for the period in question was £28,015 (2024.. £19,842). During the year the Church received £83.661 {2024'. £75,872) as a dislribution from KCC Entery)rises Ltd, 100.10 subsidiary. The Church recharged salary costs of £133,169 12024.. £104,839) to KCC Enterprises Ltd, as well as a contribution towards ulility and premises costs of £43,129 {2024'. £14,602). lan Chiddle is a trustee of Care and Relief for the Young Ltd. During Ihe year the Church made donations to Care and Relief for the Young Ltd of £2,768 {2024'. £12,232) and reiVed recharges and rent of £9.039 from them for office facilities provided {2024'. £2,705). -35-
KINGS COMMUNITY CHURCH (SOUTHAMPTON) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 30 Analysis of changes in net (debt)Ifunds At 1 ApTII 2024 Cash flowsAt 31 Mar¢h 2025 Cash at bank and in hand 521,427 148,940 670,367 Loans falling due within one year Loans falling due after more than one year (84,4501 12,367,058) (84,450) {1,961,795) 405,263 11,930,081) 554,203 (1,375,878) 31 Cash generated from operations 2026 2024 Surplus for the year 22,256 52,140 Adjustments for.. Investment income recognised in statement of financial activities Gain on disposal of tangible fixed assets Depreciation and impairment of tangible fixed assets 14,6451 16,0961 140.362 13,2131 160,372 Movements in working capital.. {Increase) in stocks Ilncreaselldecrease in debtors In¢reasellde¢reasel in creditors {6911 {40.2081 40,446 11,8071 111.888 {79.279} Cash generated from operallons 151,424 240,101 38-