REGISTERED COMPANY NUMBER: 06587980 (England and Wales} REGISTERED CHARITY NUMBER: 1124576 King's Church Uckf ield Limited Report of the Trustees and Unaudited Financial Statements for the Year Ended 31 March 2024 Swindells LLP Chartered Accountants Atlantic House 8 Bell Lane Bellbrook I ndustrial Estate Uckfield East Sussex TN22 IQL
King's Church Uckfield Limlted Contents of the Financial Statements for the Year Ended 31 March 2024 Page Report of the Trustees I to lo Independent Examlner's Report 11 to 12 Statement of Financial Actlvltles 13 Balance Sheet 14 to 15 Notes to the Financial Statements 16 to 28 Detailed Statement of Financlal Activities 29 to 30
King's Church Uckfield Limited Report of the Trustees for the Year Ended 31 March 2024 The trustee5 who are also directors of the charity for the purposes of the Companies Act 2006, present their report wlth the f i nancial statement5 of the charity for the year ended 31 March 2024. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charltles preparing their accounts in accordance with the Financial Reporting Standard 3 pplicable in the UK and Republic of Ireland IFRS 1021 (effective I January 20191, OBJECTIVES AND ACTIVITIES Objectives and aims The objects of the charity are: to advance the Christian faith by such means as the charlty shall determine from time to time in Uckfield and such other parts of the United Klngdom or the world as the members may frorn time to time see fit, to relieve sickness, poverty, hardship and persons In need by virtue of thel r age or sacial or economic circumstances. to advance the religious or secular education of young people or adu5ts, to further such other charitable purposes as the members from time to time in their absolute discretlon determine. Misslon Statement Every person in the Uckfield area, the United Kingdom generally and abroad must be given the opportunity to hear, experience and be persuaded of the good news of Jesus Christ in a way they can understand, by m@ans of Christian instruction, evangeli5ation, the relief of sickness and poverty, education and the advancement of the Christian faith generally. Strategies for achieving objectives The overall aims of King's Church Uckfield continue to be those adopted when the Church wa5 formed in 1983, namely to build the Church as a loving community and to tell those outside the Church the message of Jesus. This is being achieved by the following mea ns: providing for leadership in the Church, fully-financed resourcing and premises in which to meet and from which to operate; adopting a plan ned programme of Bible teach ing a nd practical training, under the guidance of the Holy Spi rit, in order to equi p and oncourage members of, and adherents to, the Church i n their Chrlstian l ives and their involvement in Uckfield and the Surrounding communlties,, caring for members of the Church and others with whom the Church 15 associated, particularly when sicl<ness or poverty is needing to be relieved; evangelisation of non-christia ns in Uckfield and the surrounding communities,. sending people out from the Church proclaiming the Gospel message on short and long-term projects in the United Kingdom and overseas,. maintaining our involvement as part of an apostolic movement, i.e. Newf rontierslcatalyst. Page I
King's Church Uckfleld Limlted Report of the Trustees for the Year Ended 31 March 2024 OBJECTIVES AND ACTIVITIES Grantmaklng Under the Memorandum and Articles of Association, the charity has the power to make charitable grants, donations or Dther payments (includlng Informal loans) to individuals, organisation5, charities, churches, societie5 or institutions locally, nationally or i nternationally as the trustees think fit. In preparlng the annual budget, decisions are made as to expenditure of funds in the form of grants to various bodies and individuals. Those decisions are based on a consideration of the extent to which the work being carried out by those bodles or individuals coincides with the overall aims and obJectiv@s of King's Church Uckf ield. Gr8nt5 are made lal for individual projects and Ibl on a time basis. Time-based grants are made on two bases.. il for one year only, ii) for a period of years. Grants made for one year only may be repeated In following years. Grants made for a period of years are, nonetheless, reviewed at least annually. I n all cases, the actual payment of a grant is contingent upon there being sufficient funds with i n the charity, and the receiving body or individual continuing with the work for which the grant was originally made or carrying out such other work as coincides with the overall aims and objectives of King's Church Uckfield as set out in the Memorandum and Articles of Association, and which the trustees desire to support. Volunteers The Elders, one of whom is a salarled employee, are appointed for the purpose of leading the work of the Church, They are assisted by two part-time members of paid staff. Ordinarily the substantial remainder of the work is carried out by other members of the Chu rch who are volunteers, receiving no payment for thel r services, but givlng themselves to the work as they follow the call of Jesus Christ on their lives to serve Him and make His way known in tho com munitles in which they l ive. Estimate5 of the value of the time offered by volunteers in the church of around 6,400 hours over the year with an approximate value of £80,640 (based on the Living Wage Foundation's Ihttp'.//www,livingwage.org.ukl 2024 real living wage rate of £12.60 per hourl. The Trustees are very grateful to all the volunteers who serve the church so faithfully in many and varied roles. Page 2
Klng's Church Uckf ield Limited Report of the Trustees for the Year Ended 31 March 2024 STRATEGIC REPORT Achievement and performance Review of activltles Regular {weekly/monthly) activities Ki ng's Church Uckfleld meetings at the Uckf ield Civic Centre usually Consist of around 70-100 people on a Sundav. Fortnightly prayer meetings are being held In the church office and Civic Centre. Weekly meetings have been held in members, homes, Our toddler group for 04 year olds are weekly meetlngs during term time. Annual and less regular event5 In lune 2023 the church held a Summer Celebration. This was an outdoor Sunday meeting followed by inflatables and a BBQ for the whole Communlty. Many from our toddler groups attended and it was fabulous event for the town. We continued our Fun Mornings for familie5 in the area for Christmas 2023 - previously held twice a year before the pandemic. These are indoor events with puppets, soft play, i nflatables and more. We took part in a Christmas Nativity event in close collaboration wlth Uckfield Baptist Church as part of the town's late night shopping evening, This was a tremendous success with many people able to see it. In August 2023 the members of the Church were Invited to attend 3 camp at a local campsite. As well as meetings for worship and teachingi there were many opportunities for food and fellowship. This was a wonderful time together which was appreciated by all who camo along. In May 2023, the trustees appealed to our members to pledge to give towards a new building opportunity which arose in the industrial estate. In just 9 days, we nearly doubled our Building Fund which enabled us to fi nally pu rsue of our own building. After having an offer accepted, donation5 came in from July to December to be added to our Building Fund. We successfully purchased our new property in January 2024 for building work to begin before our occupancy. Strong ties remain i n place with two churches In Bulgaria (Mezdra and Vratsal with an offering bei ng taken up to fund the employment of a Youthworker in Vratsa for a further year. The church continues in a supportir)g partnership with Uckf ield FM, a local radio station. In addition to a Thursday morning 'thought for the day,, the church sponsors the Sunday morning breakfast show to promote our Sunday meetings and work in the community generally. Page 3
King'5 Church Uckfield Limited Report of the Trustees for the Year Ended 31 March 2024 STRATEGIC REPORT Achievement and performance Safeguarding King's Church Uckfield takes seriously the responsibility to protect and safeguard the welfare of children and young people entrusted to its care, and have a robust Child Protection Policy. We have detailed guidelines and procedures relating to child abuse suspicions or allegations and ensure that these procedures are known and followed by all workers. All those volunteering tc work with children and young people are subject to a stringent application and i nductlon process including DBS Enhanced Disclosure, references, declaration of conviction, interview and supervised probationary period, Trainlng is offered to all of our workers with this being required at least once every three years. Overseas support As stated above, the overall aims and objectives of the Church include sending people out from the Church proclaiming the Gospel message on short and long-term projects in the United Kingdom and overseas. The overseas work, with which members of the Church have been involved, and to which direct financial support has k)een given, has continued and includes the following: support of two members of King's Church Uckfield working in Bolivia, providing help to their church plant which has recently started and been accepted as part of Newfrontiers. li} Support of Church members and staff vlsiting partner churches in Bulgaria. iiil Support of the church in Mezdra, particularly to allow them to afford a church leader. This has been shared with Christ Church Hailsham and is evidence of us worl(ing together to achieve shared aims. Pastoral support The Elders of the Church provide pastoral support for the members of the church including marriage counselling and spiritual advice/counselling. This is available to non-members of the church in varying degrees as those wanting support will often not be Christians and may not concur with the Christian foundation of any advice or support given. Membership of the church The membership of l(ing's Church Uckfield as of 31 March 2024 was 9312023.. 911. During the period under review: 4 were added as new members of the Church. il) 2 people are no longer part of the church membership. iiil O were saved into the Christian faith as a result of the work of the Church. iv} O were ba ptised by total irn mersion, confessing their faith in the Lord Jesus Christ. Membership of the Church is at the discretion of the elders who take into account a confession of faith in the Lord Jesus Christ, baptism in water and Subscription to the Vision & Values of the Church. Page 4
King's Church Uckfleld Llmlted Report of the Trustees for the Year Ended 31 March Z024 STRATEGIC REPORT Flnancial review Prlnclpal funding sources The fi nanci ng of the overall aims of the Church has been achieved almost exclusively by gifts, donations and offerings from the Church membership and others attending the Church. This forms around 88% of the church's non-speclflc Income and has durlng the year under review been bo15tered by additional one-off gifts from members of the church. Tax rellef obtalned from HMRC as a consequence of glving made by donDrs under the Gift Ald Scheme contributes a further Il% of non-specific income. The remaining 1% of Income is received from miscellaneous sources, government grants, and bank Interest. Expendlture The expenditure of the church in fulf i Iling the overall aims described earlier has been almost exclusively concentrated on: maintai ning and expanding the resource base of leadership and staff. satisfying the conditions of the King's Centre lease to f urther pursue our own building project; flnancing the Church's outreach programmes; and giving to projects in the U K and overseas as the Church has sought to carry out its aims. buying and working on our new premlses on the Industrial estate, formally known as TribLAne House. A11 a55et5 of the charity have been and are being used to further the Eeneral work of the church, as well as to relieve sickness ancl poverty and advance the Christian faith gonerally, in the United Kingdom and abroad. The funds of the charity have been applied as described in the Income a nd Expenditure account, and the accounts of the Restricted Funds. The General Fund surplus occurring under the charity in the year ended 31 March 2024 amounted to £3,458, The Trustees recommend that the balance of £184,120 be carried forward. The Trustees are not aware of any needs beyond the budgeted norrnal running costs of the charity in fulfilling its objects and aims. At the end of the year, the Trustees held total reserves Ithat Is those funds that are freely available), derived from income received throughout the year, amounting to £1,239,794. This sum, apart from the balances relating to the various Restricted Funds, 15 not intended to be retained to cover any particular contingency, but Is to be used to further the work of the church in the manner described earlier. such reserve5 may, therefore, be more appropriately understood to be an overall balance of income (including the brought forward bala ncesl over expenditure that has been reported in the financial statements at the end of the financi81 year, Page 5
King's Church Uckfleld Llmlted Report of the Trustees for the Year Ended 31 March 2024 STRATEGIC REPORT The Bullding Fund, created with the aim of accruing sufficient funds to aid in the purchase of a suitable building in the centre of the town, had ongoing opportunitie5 for members, non-members and external churches to donate towards during thls flnancial period with a fund total over a milllon pounds then accrued. In addition to thls, the trustees created a designated fund in 2020 with a starting balance of £50,000 which is to be used in the first instance to commence investigations into the potential of buildings as they arlse, A further £40,000 was added to th15 designated fund in March 2Q21,This designated fund was use to pay for all additional costs surronding the building purchase price, such a5 fees and Surveys. The leftcver monies are being used towards building works required for us to inhabitthe building. Investment policy and objectlves Under the Memorandum and Articles of Association, the charity has the power to invest in any way the trustees wish, Any charity general funds surplus to immediate requirements are held in a savings account. The current account is Icept at a prèctlcal level so that invoices can be Satisfied whilst securing the bost interest rate for the majority of the church's funds. The f u nds avallable Sn the deposit account are monitored c105ely on an ongoi ng basis with any need for additional fund5 being acted upon appropriately. Funds received for Specific purposes but not requlred for immediate use are invested in a varlety of accounts to achieve maxlmum growth in the fund wlth no risk to the basic fund and ensure that these monies are, where possible, covered under the Financial Servlces Compensation Schp.me. Page 6
King'5 Church Uckf ield Limited Report of the Trustees for the Year Ended 31 March 2024 STRATEGIC REPORT Financial revlew Reserves policy The trustees of Ki ng's Church Uckfield IKCU) see signif icant val ue i n holding cash reserves with the aim of eliminating the impact of one or more unforeseen, short-term financial shocks. Such shocks wlll typically i nvolve a signiflcant, unforecast f all In Income andlor substantial, unplanned and unavoidable expendlture. The intent of these reserves is to enable the church tD continue to operate for a defined perSod of time, continuing to work towards its aims and objectives, while the trustees fully assess the situation and formulate a medium to long-term plan, if felt necessary. To help the trustees calculate the correct levol of cash reserves, we will take guidance from the recommendations Issued by the Charity Cornmission of England & Wales. The minimum level will be based on the period of time we are looklng to cover and the current level of church liabilities (such as salaries and building costs), We will however also take account of the future level of church liabilities, where a significant change is expected in the short to medlum-term, With the church's stated goal of ownlng Its own bu ilding, the trustees consider it prudent to Increase our reserves over a flve-year period from their 2018119 level of £15,700 to £36,000 (i.e. aimed to be £5,000 per annuml. This higher reserves level will increase the period of cover from 4 weeks to 8 weeks and will also allow for the Significant step-change In staffing and building cost5 associated with running our own building. At the beginning of the 2023-24 financial year, we had already reached our target of £36,000. The trustees will Continue to make a decision at the end of each financial year as to the desired level of reserves. Only surplus funds will be used to further bolster our reserves. If no surplus funds are available, the trustees may decSde to take more surplus funds into the reserves in subsequent years and/or mav decide to extend the perlod over which the reserves reach their new targeted level. Future plans The maln development in the next year is the continued rebuilding of our presence in Ucl<field after the pandemic stripped away many of our community groups. Our aim for thls last year and continues to be that as a church we becorre stronger and more resilient - financially, technologicallyj practically and spiritually. We have succeeded in looklng for a church bullding to make 2 permanent home to increasse our capacity for groups, events and community projects. Now that we have that space, we are looking at how we can develop it further to better equip ourselves and increase our abilities as a church, as well as better serve our local community. This year we have run the Church on only one full-time and two part-time staff members, desplte the significant increase of workload surrounding a new building. The vast majority of the jobs needed surrounding the day-to-day running in addition to the purchase of a new building have been delegated to volunteers but we aim to be able to increase the hours of our staff as our finances improve in the coming years. Page 7
King's Church Uckfield Limited Report of the Trustees for the Year Ended 31 March 2024 STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document The company is constituted as a company limlted by guarantee under a Memorandum of Association dated 16 April 2008 and is a registered charity, nu mber 1124576, There are currently four member5 of the company, each of whom agrees to contribute £10 in the event of the charity wlnding up. The members of the company are also the elders of the Church. The principal object of the Company is the advancement of the Christian faith. Recrultment and appointment of new trustees The trustees are nominated and appointed by the members of the company, these belng the Elders of the church, who meet regularly and are able to nominate trustees prior to the AGM, One third af the trustees must retire from office each year in accordance wlth the Memorandum and Articles of the Company, but can be re~nominated and appointed at the discretion of the members. Organlsational structure The board of trustees administers the charity In close partnership with the Elders of the Church, In whom the general work of the Church (worship, teaching, evangelism and pastoral care, for example} is vested. The Elders are a150 members and Trustees and communicate effectively the means by which the objects of the charity can be fulfilled. Trustees are appointed to: manage and administer 8 specific area of respon5ibllity of the charity; ensure that the proper legal framework Is maintained; ensure the work of the Church is carried out effectively,. and ensure the f unds of the Church are administered appropriately. Three of the trustees, none of whom are employed by the church, form the Salary Review Committee. They are involved in the appraisal of staff and their appropriate remuneration, At least one trustee not employed by the church is required to authorise al I cheques and large payments: Inductlon and trainlng of new trustees The trustees have adopted a policy for the induction and training of new trustees, including providing each trustee with a copy of the following: The governing documents - Memorandum and Articles of Association; The Charity Commisslon booklet "Responsibilities of Charity Trustees" The Charity Commission booklet "The Ha15marks of an Effective Charity" ICC601; The most recent annual report and accounts; The minute5 of the most recent trustees, moeting,, Copies of all policies that the trustees have Concern for in thei r role. Tru5tee5 are encouraged to attend appropriate training events that will a5S15t them in their role and financial provision has been made in the church's annual budget to meet any expenses incurred, Page 8
Klng's Church Uckf ield Limited Report of the Trustees for the Year Ended 31 March 2024 STRUCTURE, GOVERNANCE AND MANAGEMENT Related partles King's Church Uckfield is part of the Newfrontiers family of churches (New Frontiers International Trust Limited newfrontierstogether.orgl and falls under their apostollc covering. This relationshi p promotes working together with local and international Newfrontier5 churches as part of the Catalyst network of Newfrontiers {catalystnetwork.orgl. We have forged strong links with four Other local Catalyst churches (King's Church Lewes, King's Church Heathfield, Christ Church Hailsham and Community Church Crowboroughl and often share times together, particularly as leaders. This has resulted in regular collective youth events and also a shared passion and commitment to support the work of Catalyst in Eastern Europe, King's Church Uckfield is a member of the Evangelical Alllance (eau l<.orgl, King's Church Uckfield also works together at community events with the other churches in the town as part of the 'Churche5 in Uckfield, initiative, Risk management The trustees of King's Church Uckfield have a risk management strategy which comprises: an annual review of the risksthe charity may face; trustees with particular area5 of responsibility implementlng procedures to minimise any potential impact to the charity should those risks occur,. regular review of pol icies that regulate areas of particular risk. The rislc management work that the trustees have undertaken has identlfied a few mlnor risks which have resulted in better working procedures for the church. Part5cular attention has focussed on non financial risks arising from fi re and flood, health and safety of volunteers serving the church and food hygiene, as well as looking at financial risks such as fraud and continuity of Incoming resources in those turbulent economic times. REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number 06587980 (England and W31esl Registered Charity number 1124576 Reglstered office Unit 26 Bell Lane Uckfield East Sussex TN22 IQL Page 9
Klng's Church Uckfield Llmited Report of the Trustees for the Year Ended 31 March 2024 Trustees Mr C Peachment Chairman Mrj Hcscott Mr S May-miller DrAOWard Mr L P A Mudford Mrs G R Northam-jones Mrs R E Banham Company Secretary Mrs G R Northam-jones Independent Examlner Melanie Richardson BAIHonsl FCA Swlndells LLP Chartered Accountants At13 ntic House 8 Bell Lane Bellbrook Industrial Estate Uckfield East Sussex TN22 IQL Sollcltors Dawson Hart The Old Grammar School Church Street Uckfield East Sussex TN22 IBH Bankers HSBC Bank plc 120 High Street Uckfleld East Su55ex TN22 IPX Report of the trustees, incorporating a strategic report, approved by order of the board of trustees, as the company directors, on ,Jk,.; i.?.-: and signed on the board's behalf by.. Mr C Peachment- Trustee Page 10
Independent Examiner's Report to the Trustees of Klng's Church Uckfield Limited Independent examiner's report to the trustees of Klng's Church Uckfield Llmlted I'the Company'l I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2024. Responsibllities and basls of report As the charity's trustees of the Com pany (and also its directors for the purposes of com pany lawl you are responsible for the preparation of the accounts In accordance with the requirements of the Companles Act 20061'the 2006 Act'l, Havlng satisfied myself that the accounts of the Company are not required to be audited u nder Part 16 of the 2006 Act and are el igible for independent examination, I report in respect of my examination of your charity's accounts a5 carried out under Section 145 of the Charltles Act 20111'the 2011 Act'l. In carryin out my examination I have followed the Directions given by the Charity Commission u nder Section 145151 Ibl of the 2011 Act. Page 11
Independent Examiner's Report to the Trustees of King's Church Uckfleld Llmlted Independent examiner's statement Since your charity's gr055 income exceeded £250,000 your examiner must be a member of a listed body, I can confirm that l am qualified to undertake the examination because l am a member of the Institute of Chartered Accou ntants i n England and Wales, whichls one of the115ted bodles, I have completed my examination, I confirm that no matters have come to my attention In connection with the examination givi ng me cause to believe., accounting records were not kept in respect of the Company as required by section 385 of the 2006 Act,. or the accounts do not accord with those records,, or the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the account5 give a true and fair view which is not a matter consldered as part of an independent examination,, or the accounts have not been prepared in accordance with the methods and principle5 of the statement of Recommended Practice for accounting and reporting by charities lapplicable to charities preparing thei r accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 10211. I have no concerns and have come across no other matters In connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the account5 to be reached, Melanie Richardson BAIHonsl FCA The Institute of Chartered Accountants in England and Wales Swindells LLP Chartered Accountants Atlantlc House 8 Bell Lane Bellbrook Industrial Estate Uckfield East Sussex TN22 IQL Date., ,,4-.,,..IA....,?,4,,,......,...,,... Page 12
KlnE'S Church Uckfield Limited Statement of Financial Activities (Incorporating an Income and Expenditure Account) for the Year Ended 31 March 2024 2024 Total funds 2023 Total funds U nrestricted Restricted fund funds Notes INCOME AND ENDOWMENTS FROM Donations and legacies 138,054 472,876 610,930 148,314 Investment income Other income 382 120 14,505 14,887 120 6,355 175 Total 138,556 487,381 625,937 154,844 EXPENDITURE ON Charitable activitie5 Charitable activities Donations paid Governance costs 129,426 4,151 7,800 133,577 7,800 5,347 144,009 9,869 6,841 5,347 Total 134,773 11,951 146,724 150,719 NET INCOME/(EXPENDITURE) Transfers between funds 3,783 13251 475,430 325 479,213 15,8751 17 Net movement in funds 3,458 475,755 479,213 15,8751 RECONCILIATION OF FUND5 Total funds brought forward 180,662 579,919 760,581 766,456 TOTAL FUNDS CARRIED FORWARD 184,120 1,055,574 1,239,794 760,581 The notes form part of these financlal statements Page 13
King's Church Uckfield Limited Balance Sheet 31 March 2024 2024 Total fund5 2023 Total funds Unrestricted fund Restricted f unds Notes FIXED ASSETS Tangible assets 12 2,061 1,393,962 1,396,023 2,116 CURRENT ASSETS Debtors Cash at bankand In hand 13 6,311 181,588 6,311 103,300 3,623 758,947 178,288) 187,899 178,2881 109,611 762,570 CREDITOR5 Amounts fa Illng due wlthin one year 14 15,8401 157,5941 {63,4341 14,105} NET CURRENT ASSETS 182,059 1135,8821 46,177 758,465 TOTAL ASSETS LESS CURRENT LIABILITIES 184,120 1,258,080 1,442,200 760,581 CREDITORS Amounts falling due after more than one vear 15 (202,4061 1202,4061 NEf ASSETS 184,120 1,055,674 1,239,794 760,581 FUNDS Unrestrlcted funds Restricted funds 17 184,120 1,055,574 180,662 579,919 TOTAL FUNDS 1,239,794 760,581 The charitable company is entitled to exemption from auclit under Section 477 of the Companies Act 2005 for the year ended 31 March 2024. The member5 have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companles Act 2006. The notes form part of these financial statements Page 14 continued...
Klng's Church Uckfleld Limited Balance Sheet- contlnued 31 March 2024 The trustees acknowledge their responsibillties for (al ensuring that the charitable company keeps accounting records that comply with Sectlons 386 a nd 387 of the Companles Act 2006 and preparing financial statements which give a true and fair view of the state of aff airs of the charitable com pany as at the end of each f inancl31 year and of its surplus or def icit for each f inancial year In accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requi rements of the Companie5 Act 2006 relating to financial statements, so far as applicable to the charitable companv, Ibl The financial statements were approved by the Board of Trustees and authorised for issue on XW..¢ i.?.: and were signed on its behalf by., Mr C Peachment- Trustee The notes form part of these financial statements Page 15
King's Church Uckfleld Limited Notes to the Financial Statements for the Year Ended 31 March 2024 ACCOUNTING POLICIES Basis of preparing the financial statements The financial statements of the charitable companyi which is a public benefit entity ur)der FRS 102, have been prepared in accordance with the Charitie5 SORP (FRS 1021 'Accountlng and Reporting by Charities., Statement of Recommended Practice applicabSe to charities preparing thelr accounts in accordance with the Fi nancial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 (effective l January 20191,, Financial Reporti ng Standard 102 'The Flnanclal Reportin8 Standard applicab5e in the UK and Republic of I reland, and the Companies Act 2006. The financial statements have been prepared u nder the historical cost convention. The charitable company has taken advantage of the following dlsclosure exemption in preparing these f inancia I statements, as permitted by FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland,: the requirements of Section 7 Statement of Cash Flows, Income Donations are is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the Income will be received and the amount can be me35ured reliably. Investment income is recognised on a receivable basis. Grants Government Erants in respect of capital expenditure are credited to a deferred income account and released to profit over the expected useful Ilves of the roleva nt assets in equal annual instalments. Government grants of a revenue nature 3re credited to income so a5 to match them with the expenditure to which they relate. Expendlture Liabilitie5 are recognised as expenditure as soon as there is a legal or constructive obligation ommittinE the charity to that expenditu re, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be di rectly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. Grants payable are made to third parties in the furtherance of the charitable objectives. Where the charity give5 a grant with conditlons for its payment being a specific level of service or output to be provided, such grant5 are only recognised in the statement of f inancial activities once the reci pient of the grant has provided the specific service or output. Grants payable without performance conditions are only recognised in the accounts when a commitment has been made and there are no cor)ditions to be met relating to the grant which remain in the control of the charity. Provisions for grant5 are made when the intention to make a grant has been communicated to the recipient but there 15 uncert3inty about elther the timlng of the grant or the amount of grant payable. Page 16 continued,,.
King's Church Uckfield Limited Notes to the Financial Statements- continued for the Year Ended 31 March 2024 ACCOUNTING POLICIES- contlnued Charltable actlvlties Charitable expenditure comprises those costs incurred by the cha rity in the delivery of its activities and services for it5 beneflclaries, It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them. Governance costs Governance costs include costs of the preparation and examination of the statutory accounts, the CDSts of trustees meetings and the cost of any legal advlce to trustees on governance or constitutiona I matters, Tangible fixed assets Depreciation is provided at the following annual rates in order to write off each asset over it5 estimated useful life, Freehold property Motor veh icles Computer equipment in accordance with the property 25% on reducing balance 33% on reducing balance Taxatlon The charity is ex@mpt from corporation tax on its charltable actlvlties. Fund accounting Unrestricted Funds can b@ Used in accordance with the charitable objectives at the discretion of the trustees. Designated funds comprise unrestricted funds that have been set aside by the trustees for particular purposes. The aim and use of each designated fund is Set out in the notes to the financial statements. Restricted funds ca n only be used for particular restrlcted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Further explanation of the nature and purpose of materlal funds is included In the notos to the financial statements, Operating leases Rentals paid u nder operating leases are charged to the Statement of Financlal Activities on a straight Ilne basls over the period of the lease. Pension costs and other post-retirement benefits The charitable company contribute5 to ernployee's defined contribution pension schemes. Contri butions payable to the pension schemes are charged to the Statement of Financial Activities i n the period to which they relate. Page 17 continued,,.
King's Church Uckf ield Limited Notes to the Flnanclal Statements- continued for the Year Ended 31 March 2024 DONATIONS AND LEGACIES 2024 2023 Donatior)s 610,930 148,314 INVESTMENT INCOME 2024 2023 Deposit accou nt interest 14,887 6,355 CHARITABLE ACTIVITIES COSTS Grant funding of activities {5ee note Direct Costs15ee note 51 Support casts (see note 71 61 Totals Cha ritable actlvities Donations paid Governance costs 24,216 10,310 7,800 99,051 133,577 7,800 5,347 5,347 24,216 18,110 104,398 146,724 DIRECT COSTS OF CHARITABLE ACTIVII'IES 2024 2023 Advertising Services & outreach Travelling Hall hire Equlpment & maintenance 513 8,574 853 12,221 1,955 2,118 8,859 940 9,703 1,686 24,216 23,306 Page 18 continued...
King's Church Uckfield Limited Notes to the Financlal 5tatements- continued for the Year Ended 31 March 2024 GRANTS PAYABLE 2024 2023 Charitable activities Donations paid 10,310 7,800 10,088 9,869 18,110 19,957 The total grants paid to institutions during the year was as follows: 2024 2023 Catalyst Christ Church Hailsham Grants to individuals 3,600 1,800 8,496 3,600 1,800 13,896 5,400 The total grants paid to individuals during the year was as follows.. 2024 2023 Grants to individuals Specific gifts to Bulgaria 12,353 8, 100 20,453 SUPPORT COSTS Governance costs Management Totals Charitable activities Governance costs 99,051 2,147 99,051 5,347 3,200 101,198 3,200 104,398 Page 19 continued...
King's Church Uckfield Llmited Notes to the Financial Statements- contlnued for the Year Ended 31 March 2024 SUPPORT COSTS- continued Included in governance c05ts are fees payable to the independent examiner for the examination of the accounts amounting to £2,21012023.. £2,112). Included in support costs are fees payable to the independent examiner for payroll servlces amountlng to £48612023., £6741, Support costs, included in the above, are as follows., 2024 Total activities 2023 Total activities Charitable activities Governance costs Trustees, remuneration etc Wage5 Social secu rltv Pensions Other operating leases Rates and water Insurance Communications Postage and stationery OlCe supplles Premises expenses Subscription5 & resources Professional fees Ban1< charge5 Staff costs Motor expenses Depreciation of tangible and heritage assets Accountancy fees 56,972 8,359 56,972 8,359 48,189 25,575 603 892 20,043 2,949 2,422 724 1,358 285 3,498 572 3,359 165 2,657 1,135 14,628 5,399 2,849 598 1,805 665 987 680 413 75 2,196 121 14,628 5,399 2,849 598 1,805 665 987 680 1,789 75 2,196 769 1,376 771 3,427 3,427 3,200 918 2,112 3,200 99,051 5,347 104,398 117,456 Page 20 continued...
King's Church Uckfleld Limited Notes to the Financial Statements- contlnued for the Year Ended 31 March 2024 INCOME/IEXPENDITUREI Net incomellexpenditurel is stated after chargingllcreditingl: 2024 2023 Depreciation - owned assets Other operating leases Surplus on disposal of fixed assets 3,427 14,628 11201 918 20,043 11751 TRUSTEES, REMUNERATION AND BENEFITS 2024 2023 Trustees, salaries Trustees, social security Trustees, pension contributlons to money purchase scheme5 49,414 5,564 1,977 44,821 1,575 1,793 55,955 48,189 Dr A O Ward received remuneratlon during the year in relation to his role within the Church which i ncludes preach ing, traini ng and overseas missions. Trustees, expenses During the year, three (2023: onel trustees received reimbursements of travel and other employment related expenses amounting to £6,38712023: £4,773). 10. STAFF COSTS (INCLUDING TRUSTEES, REMUNERATION) 2024 2023 Wages and salaries Social secu rity costs Other pension costs 57,773 5,564 1,977 70,396 2,178 2,685 65,314 75,259 Remuneration paid to key management personnel during the year (including social security and pensions costs) amounted to £5,67912023: £24,400). The average monthly number of employees during the year was as follows: 2024 2023 Charitable activities and administration No employees received emoluments in excess of £50,000. Page 21 ontinued,.,
Klng's Church Uckfield Limited Notes to the Financlal Statements- continued for the Year Ended 31 March 2024 11. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted Restricted fund f unds Total funds INCOME AND ENDOWMENTS FROM Donatlons and legacies 140,504 7,810 148,314 Investment income Other income 72 175 6,283 6,355 175 Total 140,751 14,093 154,844 EXPENDITURE ON Charltable attlvlties Charitable activities DonatSons pald Governance cost5 143,978 1,500 6,841 31 8,369 144,009 9,869 6,841 Total 152,319 8,400 160,719 NET INCOMEI{EXPENDITURE) Transfers between funds 111,5681 19031 5,693 903 15,8751 Net movement in funds 112,4711 6,596 {5,8751 RECONCILIATION OF FUNDS Total funds brought forward 193,133 573,323 766,456 TOTAL FUNDS CARRIED FORWARD 180,662 579,919 760,581 Page 22 continued...
King's Church Uckf ield Limited Notes to the Financial Statements- continued for the Year Ended 31 March 2024 12. TANGIBLE FIXED ASSETS Fixturos and fittings Freehold property Motor vehicles Computer equipment Totals COST At l April 2023 Additions 8,394 3,070 811 11,464 1,397,334 1,386,284 LO,239 At 31 March 2024 1,386,284 10,239 8,394 3,881 1,408,798 DEPRECIATION At l Apri12023 Charge for year 7,554 210 1,794 656 9,348 3,427 2,561 At 31 March 2D24 2,561 7,764 2,450 12,775 NET BOOK VALUE At 31 March 2024 1,386,284 7,678 630 1,431 1,396,023 At 31 March 2023 1,276 2,115 13. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Other debtor5 Prepayments Accrued income 350 5,218 743 170 1,702 1,751 6,311 3,623 Page 23 continued..,
King's Church Uckfleld Limited Notes to the Financial Statements- continued for the Year Ended 31 March 2024 14. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Other loans (see note 16 Trade creditors Social security and other taxes Other creditors Accrued expenses 57,594 1,989 1,345 296 2,210 475 1,249 269 2,112 63,434 4,105 15. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR 2024 2023 Other loans (see note 161 202,406 16, LOANS An analysis of the maturity of loans Is given below.. 2024 2023 Amounts falling due within one year on demand.. other103ns 57,594 Amounts falllng between one and two years: other loans - 1-2 years 39,292 Amounts falling due between two and five year5,. Other loans- 2-5 years 68,708 Amounts falllng d ue in more than five years.. Repayable by insta Iments: Other loans mDre 5yrs instal 9rl,406 Page 24 continued,..
Klng's Chureh Uckfield Limited Notes to the Financial Statements - contlnued for the Year Ended 31 March 2024 17. MOVEMENT IN FUNDS Net movement in funds Transfers between funds At 31,3.24 At 1.4.23 Unrestricted funds General fund 180,662 3,783 13251 184,120 Restrlcted funds D&SAdJei Specific Gifts Building Fund Newfrontier5 Fund Toddlers Bulgaria Fund Buildingstart up 639 1,074 577,877 209 120 639 1,074 1,013,084 209 120 435,207 1325} 40,548 325 40,548 579,919 475,430 325 1,055,674 TOTAL FUNDS 760,581 479,213 1,239,794 Net movement in funds, Included in the above are as follows: Incoming resources Resources expended Movement in funds Unrestricted funds General fund 138,556 1134,773} 3,783 RestrScted funds Speclf ic Glft5 Building Fund Bulgaria Fund Building Start up 300 435,207 7,175 44,699 13001 435,207 13251 4D,548 17,5001 14,1511 487,381 111,9511 475,430 TOTAL FUNDS 625,937 {146,724 479,213 Page 25 continued...
Klng's Church Uckfield Limited Notes to the Financlal Statements - contlnued for the Year Ended 31 March 2024 17. MOVEMENT IN FUNDS- continued Comparatives for movement In funds Net movement in funds Transfers between funds At 31.3.23 At 1,4.22 Unrestrlcted funds General fund 193,133 111,5S81 19031 180,662 Restrlcted funds D&SAdjei Speclfic Gifts Bulldlng Fund Newfrontiers Fund Toddlers Bulgaria Fund 639 1,074 571,281 209 120 639 1,074 577,877 209 120 6,595 19031 903 573,323 5,693 903 579,919 TOTAL FUNDS 766,456 15,8751 750,581 Comparative net movement in funds, included i n the above are as follows.. Incoming resources Resources expended Movement in funds Unrestrlcted f unds General fund 140,751 1152,3191 111,5681 Restricted fund5 Specif ic Gifts Building Fund Bulgaria Fund 900 6,596 6,597 19001 6,596 19031 17,5001 14,093 18,4001 5,693 TOTAL FUNDS 154,844 1150,7191 15,8751 General fund General funds are unrestricted funds which are available for use at the discretion of the trustees in furtherance of the general objectives of the charlty and which have not been designated for other purposes. D&SAdjei Page 26 continued,..
King's Church Uckfield Llmited Notes to the Financial Statements . contlnued for the Year Ended 31 March 2024 17. MOVEMENT IN FUNDS- contlnued The purpose of this fund is to raise money for two church members working in Bolivia, providing help to children in Santa Cruz, under the 3uspices of "Youth With a Mission Speclflc glfts Thls fund was created with the purpose of supportlng members of the church durin8 times of hardship and difficulty, Bulldlng fund The Building Fund is accumulatlng for the purpose of purchasing a suitable building to become the Church's permanent home. Durlng the year, a further £420,660 (2023: £6,596) was raised in the form of donations and Investment Income. Newfrontlers Newfrontiers 15 a group of apostolic leader5 partnering together on a global mlssion, ]oined by common value5 and beliefs, shared mission and genuine relationship5. This fund has been created with the purpose of working with Newfrontiers to achieve shared airn5, part of thls work includes a Lhurch plant in Bollvla which as been recently started. Toddlers This fund w35 created to support three toddler groups for O-l, 1-2 and 2-3 year olds on Frldav mornings during term time. Toy5 and activities are provided to the children, as well a5 refreshments for them and thelr carers. Bulgaria As part of the overall aims and objectives of the church, church members are sent overseas proclaiming the Gospel message. This fund is used to support church member5 travelling to Bulgaria to visit partner churches and support of the church in Mezdra, particularly to a Ilow them to afford a church leader, 18, EMPLOYEE BENEFIT OBLIGATIONS The charitable company contributes to employees, defined contribution pension schemes. The pension cost charge for the year represents contributions payable by the charitable company to the 5cheme5 and amounted to £1,97712023: £2,685). Contributions totalling £29612023.. £2691 were payable to the schemes at the end of the year. Page 27 continued...
King's Church uckf.leld Llmlted Notes to the Financial Statements- contlnued for the Year Ended 31 March 2024 19. OTHER FINANCIAL COMMITMENTS Total financial commltments which are not Included In the balance sheet amount to £2Q,481 12023,. £31,830I, 20. RELATED PARTY DISCLOSURES During the year, donations were received from trustees amountlng to £233,52512023,. £34,650). 21. ULTIMATE CONTROLLING PARTY The charity is controlled by the trustees wha a re all directors of the companv. 22. MEMBERS, LIABILITY The charity Is a private cornpany limited by guarantee and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £10 toward5 the assets of the charity in the event of liquidation. Page 28