## **THE KING'S CHURCH EPSOM**
**ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020**
**CHARITY REGISTRATION No: 1127019**
**COMPANY REGISTRATION No: 6745861**
**Independent Examiners Ltd**
**Unit 2 The Broadbridge Business Centre**
**Delling Lane Bosham West Sussex PO18 8NF**
1
||**THE KING'S CHURCH EPSOM**|
|---|---|
||**(A COMPANY LIMITED BY GUARANTEE)**|
||**CONTENTS**|
|Pages 3 to 7|Report of the Directors|
|Page 8|Statement of Financial Activities|
|Page 9|Balance Sheet|
|Pages 10 to 18|Notes to the Financial Statements|
|Page 19|Independent Examiners Report to the Trustees|
2
**THE KING'S CHURCH EPSOM (A COMPANY LIMITED BY GUARANTEE)**
||**REPORT OF THE DIRECTORS**|
|---|---|
|**FOR THE YEAR ENDED 31 DECEMBER 2020**||
|**LEGAL AND ADMINISTRATIVE INFORMATION**||
|**CHARITY NUMBER**|1127019|
|**COMPANY REGISTRATION NUMBER**|6745861|
|**START OF FINANCIAL YEAR**|1 January 2020|
|**END OF FINANCIAL YEAR**|31 December 2020|
|**DIRECTORS WHO SERVED**|Mr P Rice|
|**DURING THE YEAR TO**|Mrs E Akojie|
|**31 DECEMBER 2020**|Mr A Olalekan|
|**COMPANY SECRETARY**|Mr P Rice|
|**REGISTERED ADDRESS**|Longmead Road|
||Epsom|
||Surrey|
||KT19 9BU|
|**DATE OF INCORPORATION**|11 November 2008|
|**GOVERNING DOCUMENT**|Memorandum and Articles of Association dated 11 November 2008|
|**BANKERS**|CAF Bank Limited|
||25 Kings Hill Avenue|
||Kings Hill|
||West Malling ME19 4JQ|
|**INDEPENDENT EXAMINER**|Independent Examiners Ltd|
||Unit 2 The Broadbridge Business Centre|
||Delling Lane|
||Bosham|
||West Sussex|
||PO18 8NS|
|**OBJECTS**|As set out in the Directors annual report|
3
## **THE KING'S CHURCH EPSOM (A COMPANY LIMITED BY GUARANTEE)**
## **REPORT OF THE DIRECTORS (continued) FOR THE YEAR ENDED 31 DECEMBER 2020**
## **Structure, Governance and management:**
The King's Church Epsom is an incorporated company limited by guarantee; company number 6745861.
The church is governed by the Spiritual Authority of the church, which is made up of ministries and elders. Ministries and Elders are elected by a Special Resolution of a church members meeting. Membership of the church is open to all who profess a true repentance of sin and faith in the Lord Jesus Christ and whose lives give evidence of it; have agreed with the church's doctrinal basis of faith; are enthusiastically able to embrace the vision of the church having normally followed our ‘Into the family’ course and whose applications have been agreed by the church council.
## **Objectives and Activities**
The Charity’s objects (“the Objects”) are:-
(a) To advance the Christian faith in accordance with the Statement of Beliefs in the Schedule to the Articles hereto attached in such ways and in such parts of Epsom and Ewell, the United Kingdom or the world as the Trustees from time to time may think fit;
(b) To relieve sickness and financial hardship and to promote and preserve good health by the provision of funds, goods or services of any kind, including through the provision of counselling and support in such parts of Epsom and Ewell , the United Kingdom or the world as the Trustees from time to time may think fit;
(c) To advance education in such ways and in such parts of the United Kingdom or the world as the Trustees may from time to time think fit;
(d) To provide or assist in the provision of facilities in the interests of social welfare for recreation or other leisure time occupation of individuals who have need of such facilities by reason of their youth, age, infirmity or disability, financial hardship or social circumstances with the object of improving their conditions of life in such parts of Epsom and Ewell, the United Kingdom or the world as the Trustees may from time to time think fit.
We meet every Sunday to worship God and teach the gospel. We maintain a full programme throughout the week, including prayer meetings and home groups for fellowship and bible study. We run extensive youth programmes for all ages for both the youth in the church and the community. We run regular training sessions to equip and raise up leaders. We touch the lives of the community through clubs for old and young, and via outreach on the streets.
We are actively engaged in supporting overseas ministry through indigenous churches and leaders.
## **Achievements and Performance**
In pursuing our activities the Trustees have had a due regard to the Charity Commission’s guidance on operating for the public benefit.
We seek to maintain enough reserves to cover three months of expenses including salaries and running costs. Our principal source of funding is regular giving from church members. We also organise gift days and special offerings approximately twice a year for particular needs. In addition we receive gifts for the use of our building from the outside community. We did not pursue gift days in 2020 in deference to the negative financial impact of COVID that some in the church community may have been experiencing. Also because of COVID we experienced a reduction in the use of the building and associated financial gifts.
There was also an impact on income, because of some loss of giving that would have come through physical offerings of cash and cheques at Sunday services. However, a lot of this has been offset by a reduction in costs, with some staff on furlough for a period, and a reduction in building running costs such as cleaning during the period when the building was effectively closed. There was also some success in persuading additional giving electronically either via BACS, a QR code and another option available via the CAF bank.
Trustees and others worked hard to enable a COVID 19 compliant church re-opening in the August. The measures included restricting room access, one way system, using wipeable chairs, hand and equipment sanitisers, social distancing, staggered leaving, no pre or after service socialising, a booking system against a maximum capacity and more frequent cleaning regime. This approach offered reasonable safeguards for attendees at all times. A virtual service continued to be offered in parallel at this time.
4
## **THE KING'S CHURCH EPSOM**
## **(A COMPANY LIMITED BY GUARANTEE)**
## **REPORT OF THE DIRECTORS (continued)**
## **FOR THE YEAR ENDED 31 DECEMBER 2020**
The investment in salaries and building maintenance enables us to run the weekly programme to meet the needs of the church and the community. Beyond this there is a lot of volunteer time given to enable the church to operate, which at a conservative estimate equates to another 10 FTE of staff time.
We support full time missionaries overseas in accordance with our vision to be a church with a world mission.
Trustees continued to monitor church compliance with health and safety and safeguarding polices.
In recognition of a maintenance backlog, a larger budget than usual was agreed for maintenance and this was invested in improvements including the clearance and tidying of grounds, better lighting, upgraded emergency systems and fully tested and improved electrics. With the move to more activities online (Zoom and YouTube) and a desire to improve our capacity to stream services in the medium to short term, the sound and visual systems were overhauled and a fibre-optic connection was installed to improve bandwidth.
The Church is part of “Commission” which is geographical grouping of around 50 New Frontiers International churches. The Lead Elder (Pastor) commenced studies for a master’s degree in theology facilitated by Commission. Leaders and the wider Church participated in regular online events of worship, encouragement, wider community awareness amongst the family of churches and training.
The part-time Youth Worker left the post in January and the Administrator in March. Neither vacancy was filled during the year, with the impact of COVID on finances and administrative needs making the requirement less pressing. The church continued to employ the Pastor and Children’s Worker. A few members continued to participate in leadership training.
The church had around 120 Members during the year.
The Church was represented on both Epsom and Ewell Churches Together.
## **Object 1: To advance the Christian faith…**
We have been able to maintain some of Christian activities throughout the year, at times of lockdown using virtual means for Sunday services, home groups, prayer meetings, children and youth activities and other gatherings. The main outreach however was through the running of a virtual Alpha course which explores some of the key questions of life and the Christian faith. Six people were baptised.
We are involved in supporting a network of church activities in Serbia and we continued regular support to Calvary Ministries in Mozambique. The short-term mission trip to Mozambique planned for the Summer was cancelled due to COVID.
We regularly hired out the premises for use by a Brazilian church, with a break during the full lockdown period.
We explored the town of Merstham in Reigate & Banstead as a possible site for a church plant, and an initial ‘prayer walk’ of the area was undertaken by a church group in February.
A regular outreach was broadcast via Instagram from the Pastor and a younger Church member.
Some singing of Christian Christmas carols took place on some streets in December, and this received appreciative feedback
## **Object 2: To relieve sickness and financial hardship and to promote and preserve good health…**
We continued to make the premises freely available to a group which provides a social and support space for the homeless, unemployed and socially isolated. This was suspended after March.
A Christians Against Poverty (CAP) Fresh Start course (for people with addictions) was run face to face and completed just prior to the first lockdown. After that there were two individual on-line Fresh Start courses.
CAP also reopened the local Debt Centre at which one of our Church members is the debt coach and was also the temporary manager covering maternity leave. There have been a number of referrals and at least one client is already debt free.
5
## **THE KING'S CHURCH EPSOM (A COMPANY LIMITED BY GUARANTEE)**
## **REPORT OF THE DIRECTORS (continued)**
## **FOR THE YEAR ENDED 31 DECEMBER 2020**
We continued regular support to the charity 5000+ which works in a number of countries to teach and train communities to make the most out of the skills and resources with which they are already blessed. This has resulted in numerous stories where the economic situation of whole villages has been changed for the good.
We have also continued to operate welfare fund to enable a financial pool to be available to help those in the church community facing acute monetary pressures.
In conjunction with Epsom Churches Together we continued to pursue establishing housing for the ‘homeless’ under the auspices of the charity “Hope Into Action”.
There was an initial community response from the Church at the time of COVID. Leaflets were distributed around the estate offering practical support with shopping, prescription pick-ups, a listening ear etc, and a special helpline was set up. The take up was small but we were able to give practical support to some in this way.
We also launched an initiative to support vulnerable people and provide hot meals to people in the community on Christmas Day, take up was lower than expected but well received by beneficiaries.
## **Object 3: To advance education…**
We continued with regular financial support to Spinnaker which is a Christian charity that offers support to schools with covering faith aspects of the national curriculum.
Other usual hires for educationally focused groups ceased after March.
## **Object 4: To provide or assist in the provision of facilities in the interests of social welfare for recreation or other leisure time occupation of individuals…**
We were not able to offer the usual full children and youth programme after March. We did however maintain a good level of social, spiritual and activity-based meetings for the various age groups via virtual platforms. Social distanced in person meetings and activities also took place when lock down measures where temporarily eased.
A ‘Tea and chat’ group was unable to meet on a regular basis. Some contact with the group was maintained via phone calls and virtual means.
Friday Fizz, our parent and toddler ministry was also suspended after March, and occasional contact was maintained with parents.
6
## **THE KING'S CHURCH EPSOM (A COMPANY LIMITED BY GUARANTEE)**
## **REPORT OF THE DIRECTORS (continued) FOR THE YEAR ENDED 31 DECEMBER 2020**
## **Financial review**
The Trustees report a surplus of £33,366 income over expenditure this year, compared to a deficit of £1,501 in the previous financial year. (The small deficit in 2019 arose largely because our two 'Gift Days' where we encourage giving over and above the regular offerings did not yield as much as had been budgeted. However with a healthy reserve in place we felt able to allow a small deficit to occur in that year without any compromise of our healthy financial position. We addressed this by various forms of outreach which would see the church family grow (in line with our stated vision) and alongside that see an increase in tithes and offerings which is our principal source of income.)
The Trustees are of the opinion that the charity is financially viable and can continue to meet its liabilities, when they fall due.
## **Covid-19**
Covid-19 will continue to affect some of our activities in the coming year (2021), and safeguards have been put in place to mitigate some of the impact. A more detailed information on these will be presented in the 2021 report.
There will be an impact on income, because rental income is down and some loss of giving that would have come through physical offerings of cash and cheques at Sunday services. However a lot of this has been offset by a reduction in costs, with some staff on furlough for a period, and a reduction in building running costs such as cleaning during the period when the building was effectively closed.
## **Statement of Director's responsibilities:**
The Charities Act and the Companies Act require the Board of Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity as at the end of the financial year and of the surplus or deficit of the charity. In preparing those financial statements the Board is required to :-
- select suitable accounting policies and then apply them consistently;
- make judgements and estimates that are reasonable and prudent; and
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
- state whether applicable accounting standards and statements of recommended practice have been followed , subject to any material departures disclosed and explained in the financial statements;
The Trustees are also responsible for maintaining adequate accounting records which disclose with reasonable accuracy at any time the financial position of the charity and which are sufficient to show and explain the charity's transactions and enable them to ensure that the financial statements comply with the Companies Act 2006 and comply with regulations made under the Charities Act. 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.
The Trustees are also responsible for the contents of the trustees' report, and the responsibility of the independent examiner in relation to the trustees' report is limited to examining the report and ensuring that , on the face of the report, there are no inconsistencies with the figures disclosed in the financial statements.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
I approve the attached statement of financial activities and balance sheet for the year ended 31 December 2020, and confirm that I have made available all information necessary for its preparation.
Date: 25th August 2021
Signature: Peter Rice
Print name: PETER RICE
7
## **THE KING'S CHURCH EPSOM**
## **(A COMPANY LIMITED BY GUARANTEE)**
## **STATEMENT OF FINANCIAL ACTIVITIES**
## **FOR THE YEAR ENDED 31 DECEMBER 2020**
|Notes
**FROM:**
Donations and Legacies
2a
Charitable Activities
2b
Investments
2c
Other
2d
**TOTAL INCOME**
**EXPENDITURE ON:**
Raising Funds
3a
Charitable Activities
3b
Other
3c
**EXPENDITURE**
**NET INCOME/(EXPENDITURE)**
Transfers between funds
**NET MOVEMENT IN FUNDS**
**Reconciliation of funds:**
Total Funds Brought Forward
**TOTAL FUNDS CARRIED FORWARD**
**INCOME AND ENDOWMENTS**|Unrestricted
Designated
Restricted
TOTAL
TOTAL
Funds
Funds
Funds
2020
2019
£
£
£
£
£
205,918
3,000
12,431
221,349
205,929
9,122
100
870
10,092
21,679
30
0
0
30
55
1,175
0
0
1,175
6
**216,245**
**3,100**
**13,301**
**232,646**
**227,669**
0
0
0
0
231
181,383
8,976
8,921
199,280
228,939
0
0
0
0
0
**181,383**
**8,976**
**8,921**
**199,280**
**229,170**
**34,862**
**(5,876)**
**4,380**
**33,366**
**(1,501)**
(28,847)
28,847
0
0
0
**6,015**
**22,971**
**4,380**
**33,366**
**(1,501)**
1,188,992
(236,997)
9,912
961,907
963,408
**1,195,007**
**(214,026)**
**14,292**
**995,273**
**961,907**|
|---|---|
Movements on all reserves and all recognised gains and losses are shown above. All of the organisation's operations are classed as continuing.
The notes on pages 10 to 18 form part of these financial statements.
8
## **THE KING'S CHURCH EPSOM**
## **(A COMPANY LIMITED BY GUARANTEE)**
## **COMPANY NO: 6745861**
## **BALANCE SHEET AS AT 31 DECEMBER 2020**
|**Note**
**Fixed Assets**
Tangible assets
6
**Current Assets**
Debtors
7
Cash at bank and in hand
8
**Total Current Assets**
**Creditors:**amounts falling due
9
within one year
**NET CURRENT ASSETS**
**TOTAL ASSETS**less current liabilities
**Creditors:**amounts falling
10
due in more than one year
**NET ASSETS**
**Funds of the Charity**
General Funds
Designated Funds
11
Restricted Funds
12
**Total Funds**|Unrestricted
Designated
Restricted
**31-Dec-20**
**31-Dec-19**
Funds
Funds
Funds
**Total**
**Total**
£
£
£
**£**
**£**
1,149,972
0
0
1,149,972
1,158,289
2,520
62
0
2,582
2,937
51,199
15,021
14,292
80,512
62,734
**53,719**
**15,083**
**14,292**
**83,094**
**65,671**
8,684
28,847
0
37,531
40,170
45,035
(13,764)
14,292
45,563
25,501
**1,195,007**
**(13,764)**
**14,292**
**1,195,535**
**1,183,790**
0
200,262
0
200,262
221,883
**1,195,007**
**(214,026)**
**14,292**
**995,273**
**961,907**
1,195,007
0
0
1,195,007
1,188,992
0
(214,026)
0
(214,026)
(236,997)
0
0
14,292
14,292
9,912
**1,195,007**
**(214,026)**
**14,292**
**995,273**
**961,907**|
|---|---|
The directors are satisfied that for the year ended on 31 December 2020 the charitable company was entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006 and that no member or members have required the company to obtain an audit of its accounts for the year in question in accordance with section 476 of the Act. However, in accordance with section 145 of the Charities Act 2011, the accounts have been examined by an Independent Examiner whose report appears on page 19.
The director(s) acknowledge their responsibility for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime and in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2015) - (Charities SORP (FRS102)).
The directors acknowledge their responsibility for ensuring that the company keeps proper accounting records which comply with section 386 of the Act and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and if its profit and loss for the financial year in accordance with the requirements of sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to accounts, so far as applicable to the company.
Approved by the Directors on the 25th August 2021
Signed on their behalf by Peter Rice
Print Name: PETER RICE
9
## **THE KING'S CHURCH EPSOM**
## **(A COMPANY LIMITED BY GUARANTEE)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020**
## **1. ACCOUNTING POLICIES**
## **Basis of preparation:**
The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime and in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2015) - (Charities SORP (FRS102)).
Advantage has been taken of Section 396(5) of The Companies Act 2006 to allow the format of the financial statements to be adapted to reflect the special nature of the charity's operation and in order to comply with the requirements of the SORP.
The charitable company has taken advantage of the exemption in Financial Reporting Standard No 1 from the requirement to produce a cash flow statement.
The King's Church Epsom meets the definition of a public benefit entity under FRS102. Assets and liabilities are initially recognised at historical cost unless otherwise stated in the relevant accounting policy notes.
## **Preparation of accounts on a going concern basis**
Preparation of the accounts is on a going concern basis. The Trustees are of the view that the level of reserves will support the charity going forward.
The charity has opted to use the natural classification of categories in its accounts.
## **Changes to accounting estimates**
No changes to accounting estimates have occurred in the reporting period
## **Material prior period errors**
No material prior year errors have been identified in the reporting period.
The particular accounting policies adopted are set out below.
## **1. ACCOUNTING POLICIES**
## **Income**
## _**Recognition of Income**_
These are included in the Statement of Financial Activities (SOFA) when:
- the charity becomes entitled to the income;
- it is more likely than not that the trustees will receive the resources; and
- the monetary value can be measured with sufficient reliability.
## _**Offsetting**_
There has been no offsetting of assets and liabilities, or income and expenses, unless required or permitted by the FRS 102 SORP or FRS 102.
## _**Grants and Donations**_
Grants and donations are only included in the SoFA when the general income recognition criteria are met (5.10 to 5.12 FRS 102 SORP).
## _**Grants and Donations**_
Grants and donations are only included in the SoFA when the general income recognition criteria are met (5.10 to 5.12 FRS 102 SORP).
## _**Volunteer Help**_
The value of any voluntary help received is not included in the accounts but is described in the Directors' annual report
## _**Income from interest, royalties and dividends**_
This is included in the accounts when receipt is probable and the amount receivable can be measured reliably.
10
## **THE KING'S CHURCH EPSOM (A COMPANY LIMITED BY GUARANTEE)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020**
## _**Investment Income**_
This is included in the accounts when receivable.
## _**Investment Gains and Losses**_
This included any gain or loss on the sale of investments and any gain or loss resulting from revaluing investments to market value at the end of the year.
## **Expenditure and liabilities**
## _**Liability recognition**_
Liabilities are recognised where it is more likely than not that there is a legal or constructive obligation committing the charity to pay out resources and the amount of the obligation can be measured with reasonable certainty.
## _**Governance Costs**_
Support costs have been allocated between governance costs and other support. Governance costs comprise all costs involving public accountability of the charity and its compliance with regulation and good practice.
## **Legal status of the charity**
The charity is a company limited by guarantee and has no share capital. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity.
## _**Pension Scheme**_
The charity operates a government backed defined contribution pension scheme. Contributions are charged to the Statement of Financial Activities as they become payable in accordance with the rules of the scheme. The charity is under no further obligation to make any extra payments irrespective of how that pension fund performs.
## _**Assets**_
Tangible fixed assets for use by the charity:
These are capitalised if they can be used for more than one year, and cost at least £500. They are valued at cost or, if gifted, at the value to the charity on receipt.
Depreciation is calculated at a rate to write off the cost of tangible fixed assets over their estimated useful lives. The estimated useful lives/rates applied are as follows:
|Church Premises
Furniture and Equipment
**2. INCOME AND ENDOWMENTS FROM:**
**a) Donations and Legacies**
BACS Giving
Gift Aid Tax Reclaim
Offerings
Special Offerings
Grants - HMRC Job Retention Scheme
**b) Charitable Activities**
Other Charitable Activities
Rental Income
Tea and Chat
Youth Work|150 years straight line
15% straight line
Unrestricted
Designated
Restricted
TOTAL
TOTAL
Funds
Funds
Funds
2020
2019
£
£
£
£
£
146,192
0
0
146,192
121,657
34,529
0
0
34,529
28,342
10,469
0
0
10,469
25,395
5,686
3,000
12,431
21,117
30,535
9,042
0
0
9,042
0
**205,918**
**3,000**
**12,431**
**221,349**
**205,929**
1,022
0
0
1,022
4,326
7,832
0
0
7,832
13,469
0
0
0
0
308
268
100
870
1,238
3,576
**9,122**
**100**
**870**
**10,092**
**21,679**|
|---|---|
11
## **THE KING'S CHURCH EPSOM**
## **(A COMPANY LIMITED BY GUARANTEE)**
## **NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 DECEMBER 2020**
|**2. INCOME AND ENDOWMENTS FROM:**
**c) Investments**
Bank Interest
**d) Other**
Miscellaneous Income
Refunds and Repayments
**3. EXPENDITURE ON:**
Note
**a) Raising Funds**
Publicity
**b) Charitable Activities**
Activities undertaken directly
Caring/Tea and Chat
Catering and Cleaning
Children and Youth
Donations to Commission
Missions:
Home
Overseas
Visiting Speakers
SUB TOTAL|Unrestricted
Designated
Restricted
TOTAL
TOTAL
Funds
Funds
Funds
2020
2019
£
£
£
£
£
30
0
0
30
55
**30**
**0**
**0**
**30**
**55**
83
0
0
83
6
1,092
0
0
1,092
0
**1,175**
**0**
**0**
**1,175**
**6**
Unrestricted
Designated
Restricted
TOTAL
TOTAL
Funds
Funds
Funds
2020
2019
£
£
£
£
£
0
0
0
0
231
**0**
**0**
**0**
**0**
**231**
30
0
100
130
915
5,034
0
0
5,034
7,450
174
190
0
364
7,563
6,124
0
401
6,525
6,000
4,180
0
431
4,611
3,119
14,080
1,560
6,205
21,845
25,085
1,330
0
0
1,330
1,910
30,952
1,750
7,137
39,839
52,042|
|---|---|
12
## **THE KING'S CHURCH EPSOM (A COMPANY LIMITED BY GUARANTEE)**
## **NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 DECEMBER 2020**
## **3. EXPENDITURE ON:**
|Note
SUB-TOTAL BROUGHT FORWARD
Support Costs
Conferences
Depreciation
Equipment
Fees and Subscriptions
Insurance
Literature and Supplies
Maintenance
Mortgage Interest
Motor and Travelling
Personnel Expenses
Printing, Postage, Stationery, Photocopy
Sundry and Miscellaneous
Telephone
Utilities
Wages and Salaries
10
Governance Costs
Independent Examiner's Fees
**TOTAL CHARITABLE ACTIVITIES**
**c) Other**
Miscellaneous Expenditure
**4. SUPPORT AND GOVERNANCE COSTS**
Office and administration
Independent examiners fees|Unrestricted
Designated
Restricted
TOTAL
TOTAL
Funds
Funds
Funds
2020
2019
£
£
£
£
£
30,952
1,750
7,137
39,839
52,042
198
0
0
198
4,002
8,317
0
0
8,317
8,317
11,772
0
0
11,772
9,251
2,781
0
0
2,781
3,558
3,145
0
0
3,145
3,000
134
0
0
134
0
25,753
0
0
25,753
16,935
0
7,226
0
7,226
7,865
239
0
0
239
1,259
2,017
0
0
2,017
111
1,290
0
0
1,290
1,965
0
0
560
560
30
364
0
0
364
750
5,014
0
0
5,014
7,548
87,937
0
1,224
89,161
110,851
179,913
8,976
8,921
197,810
227,484
1,470
0
0
1,470
1,455
1,470
0
0
1,470
1,455
**181,383**
**8,976**
**8,921**
**199,280**
**228,939**
0
0
0
0
0
**0**
**0**
**0**
**0**
**0**
Support
Governance
Total
£
£
£
197,810
0
197,810
0
1,470
1,470
197,810
1,470
199,280|
|---|---|
## **5. DETAILS OF CERTAIN TYPES OF EXPENDITURE**
Independent examiner’s fees
Assurance services other than audit or independent examination Tax advisory fees
Other fees (for example: financial advice, consultancy, accountancy services) paid to the independent examiner
|2020|2019|
|---|---|
|£|£|
|1,470|1,455|
|0|0|
|0|0|
|0|0|
13
## **THE KING'S CHURCH EPSOM**
## **(A COMPANY LIMITED BY GUARANTEE)**
## **NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 DECEMBER 2020**
|**6. TANGIBLE FIXED ASSETS**||Church|Church|Furniture &|TOTAL|
|---|---|---|---|---|---|
|||Premises|Premises|Equipment||
|||Land element|Building element|||
|||Title No: SY515754|Title No: SY515754|||
|||£|£|£|£|
|Cost at|01-Jan-20|175,106|1,075,650|15,221|1,265,977|
|Additions||0|0|0|0|
|Cost at|31-Dec-20|175,106|1,075,650|15,221|1,265,977|
|Depreciation at|01-Jan-20|0|98,426|9,262|107,688|
|Charge||0|7,171|1,146|8,317|
|Depreciation at|31-Dec-20|0|105,597|10,408|116,005|
|Net Book Value|31-Dec-20|**175,106**|**970,053**|**4,813**|**1,149,972**|
|Net Book Value|31-Dec-19|**175,106**|**977,224**|**5,959**|**1,158,289**|
## **Church Premises**
The land for the church site was acquired in November 1982 for approximately £14,000. The original building was constructed in May 1983 at an approximate cost of £85,000. Additional loans from UKET and NWB were utilised towards the extension and furnishing of the buildings on the site and was completed in May 1993. All loans relating to these costs were cleared by September 2000. The property was revalued by Jonathan Berney Consultant Surveyors and Valuers on 5 August 2009. An additional loan from Triodos Bank was taken out during 2009 to fund an extension of the church buildings and further drawdowns were taken from Triodos Bank during 2010. The percentage split shown above between the land and building element is calculated based on the original cost prices.
## **7. DEBTORS AND PREPAYMENTS**
|Tax Recoverable
Other Debtors
Nest Pension
CCLA|Unrestricted
Designated
Restricted
**Total**
**Total**
Fund
Fund
Fund
**31-Dec-20**
**31-Dec-19**
£
£
£
**£**
**£**
2,520
62
0
2,582
2,310
0
0
0
0
627
0
0
0
0
0
0
0
0
0
0
**2,520**
**62**
**0**
**2,582**
**2,937**|
|---|---|
## **8. CASH AT BANK AND IN HAND**
|Current Accounts
Deposit Accounts
Petty Cash|Unrestricted
Designated
Restricted
**Total**
**Total**
Fund
Fund
Fund
**31-Dec-20**
**31-Dec-19**
£
£
£
**£**
**£**
14,210
15,021
14,292
43,523
25,775
36,744
0
0
36,744
36,714
245
0
0
245
245
**51,199**
**15,021**
**14,292**
**80,512**
**62,734**|
|---|---|
14
## **THE KING'S CHURCH EPSOM (A COMPANY LIMITED BY GUARANTEE)**
## **NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 DECEMBER 2020**
## **9. CREDITORS AND ACCRUALS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
|Accruals
Independent Examiners Fees
Triodos Loan|Unrestricted
Designated
Restricted
**Total**
**Total**
Fund
Fund
Fund
**31-Dec-20**
**31-Dec-19**
£
£
£
**£**
**£**
7,214
0
0
7,214
9,868
1,470
0
0
1,470
1,455
0
28,847
0
28,847
28,847
**8,684**
**28,847**
**0**
**37,531**
**40,170**|
|---|---|
## **10. CREDITORS AND ACCRUALS: AMOUNTS FALLING DUE IN MORE THAN ONE YEAR**
|Triodos Loan|Unrestricted
Designated
Restricted
**Total**
**Total**
Fund
Fund
Fund
**31-Dec-20**
**31-Dec-19**
£
£
£
**£**
**£**
0
200,262
0
200,262
221,883
**0**
**200,262**
**0**
**200,262**
**221,883**|
|---|---|
In 2009, the Church began a building project to extend the Church premises. The Church obtained a loan with Triodos bank. The church has been paying £2,404.89 back to Triodos on a monthly basis. The Church made an additional payment of £42,893.64 in 2016 to reduce the term of the loan. In addition to this the Finance Council and trustees successfully negotiated a reduced interest on the outstanding loan.
## **11. DESIGNATED FUNDS - MOVEMENT CURRENT YEAR**
|Children and Youth Work|Balance
Transfers
Balance
01-Jan-20
Income
Expenditure
Btw Funds
31-Dec-20
£
£
£
£
£
31
100
190
0
(59)|
|---|---|
|New Beginnings Children's Home (Albania)|0
0
1,560
0
(1,560)|
|Building Project|(237,250)
3,000
7,226
28,847
(212,629)|
|Special Offerings|0
0
0
0
0|
|Tea and Chat|222
0
0
0
222|
||**(236,997)**
**3,100**
**8,976**
**28,847**
**(214,026)**|
|**11. DESIGNATED FUNDS - MOVEMENT**|**PREVIOUS YEAR**|
|Children and Youth Work|Balance
Transfers
Balance
01-Jan-19
Income
Expenditure
Btw Funds
31-Dec-19
£
£
£
£
£
0
45
3,695
3,681
31|
|New Beginnings Children's Home (Albania)|0
0
1,200
1,200
0|
|Building Project|(261,245)
3,013
7,865
28,847
(237,250)|
|Special Offerings|9,259
0
0
(9,259)
0|
|Tea and Chat|129
308
215
0
222|
||**(251,857)**
**3,366**
**12,975**
**24,469**
**(236,997)**|
Designated Funds are represented by:
|Cash at bank and in hand
Debtors (gift aid)
Short term liabilities (Triodos loan)
Long term liabilities (Triodos loan)|31/12/2020
31/12/2019
£
£
15,021
13,670
62
63
28,847
28,847
200,262
221,883
(214,026)
(236,997)|
|---|---|
15
## **THE KING'S CHURCH EPSOM**
## **(A COMPANY LIMITED BY GUARANTEE)**
## **NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 DECEMBER 2020**
## **12. RESTRICTED FUNDS - MOVEMENT CURRENT YEAR**
||Balance|||Transfers|Balance|
|---|---|---|---|---|---|
||01-Jan-20|Income|Expenditure|Btw Funds|31-Dec-20|
||£|£|£|£|£|
|New Beginnings Children's Home (Albania)|312|30|0|0|342|
|Samaritans|545|5,442|100|0|5,887|
|Karuna Action (formerly Kingscare)|47|0|394|0|(347)|
|Pastoral Fund|0|1,224|1,224|0|0|
|Adhoc Fund|9,008|5,735|7,203|0|7,540|
|Children and Youth|0|870|0|0|870|
||**9,912**|**13,301**|**8,921**|**0**|**14,292**|
|**12. RESTRICTED FUNDS - MOVEMENT PREVIOUS YEAR**
Balance
01-Jan-19
£
New Beginnings Children's Home (Albania)
166
Voth Family PNG
567
Samaritans
264
Karuna Action (formerly Kingscare)
47
Special Collections
250
Pastoral Fund
(102)
Adhoc Fund
43,694
Children and Youth
0||Income
£
146
0
881
0
0
1,224
4,720
3,536|Expenditure
£
0
0
600
0
0
1,122
36,018
3,536|Transfers
Btw Funds
£
0
(567)
0
0
(250)
0
(3,388)
0|Balance
31-Dec-19
£
312
0
545
47
0
0
9,008
0|
||**44,886**|**10,507**|**41,276**|**(4,205)**|**9,912**|
Any restricted funds in deficit will be replenished in the following financial year.
16
## **THE KING'S CHURCH EPSOM (A COMPANY LIMITED BY GUARANTEE)**
## **NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 DECEMBER 2020**
Following a review in 2019 of all funds held, the transfers in 2019 represent:
£
- (567) In the 2016 published accounts, an amount of £675 was transferred from General funds to the Voths restricted fund. During 2017, an amount of £188 was received into this fund, £566 was spent and an adjustment to gift aid tax reclaimed of £223 was made, which should have left a balance of £0 at 31st December 2017. However, the amount transferred should only have been £600 (not £675) and the restricted income allocated to this fund was overstated in the 2017 published accounts by £492, resulting in an overstatement of the balance held at 31st December 2017 of £567. The transfer of £567 corrects this.
- (250) In 2015, gift days donations totalling £250 were incorrectly allocated to the special collections restricted fund. Of this amount, £200 should have been allocated to the restricted adhoc fund and £50 to General funds. The transfer of £250 corrects this.
- (3,388) In 2018 the Church held a weekend away at Ashburnham Christian Centre. Monies were paid in to the Ad Hoc Fund for this. Monies totalling £3,588 were paid out to Ashburnham, but they were recorded as being paid from the General Fund instead of the Ad Hoc Fund. Also as detailed above, an amount of £200 has been transferred in from the special collections fund. The transfer of £3,388 corrects this.
(4,205)
The New Beginnings Fund relates to the upkeep of a Children's Home in Tirana, Albania.
The Voths Fund relates to support for the Voth family, who work with Wycliffe Bible Translators in Papua New Guinea.
Karuna Action (Formerly Kingscare) is a Christian relief charity.
Restricted Funds are represented by:
|Cash at bank and in hand|31-Dec-20
31-Dec-19
£
£
14,292
9,912
14,292
9,912|
|---|---|
## **13. ANALYSIS OF STAFF COSTS, TRUSTEE REMUNERATION AND EXPENSES AND THE COST OF KEY MANAGEMENT PERSONNEL**
|Gross Wages and Salaries
Employer's National Insurance Costs (after annual allowance)
Employer's Pension Contributions|2020
2019
£
£
79,767
97,769
3,912
6,048
5,482
7,034
89,161
110,851|
|---|---|
Average number of employees who were engaged in each of the following activities:
||2020||2019||
|---|---|---|---|---|
||TOTAL||TOTAL||
|Activities in furtherance of organisation's objects||2||4|
At the start of the period, the church employed two full time staff members and two part time staff members. At the end of the period, the church employed two full time staff members and zero part time staff members.
No employees received emoluments in excess of £60,000. Staff are paid both through the PAYE system and on a self employed basis (2019: None).
The charity operates a government backed defined contribution pension scheme. Employer contributions are charged to the Statement of Financial Activities (SoFA) as they become payable in accordance with the rules of the scheme. The charity is under no further obligation to make any extra payments irrespective of how that pension fund performs. The amount charged to the SoFA during this financial year was £5,482 (2019: £7,034).
The key management personnel of the charity comprise the Board of Trustees, none of whom are remunerated. Therefore, the total employee benefits (including employer national insurance and employer pension contributions) of the key management personnel of the charity were £0.
17
## **THE KING'S CHURCH EPSOM (A COMPANY LIMITED BY GUARANTEE)**
## **NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 DECEMBER 2020**
## **14. ANALYSIS OF NET ASSETS BETWEEN FUNDS**
|Tangible Fixed Assets
Net Current Assets
Long Term Liabilities
Tangible Fixed Assets
Net Current Assets
Long Term Liabilities|Unrestricted
Designated
Restricted
**TOTAL**
Funds
Funds
Funds
**2020**
£
£
£
£
1,149,972
0
0
1,149,972
45,035
(13,764)
14,292
45,563
0
(200,262)
0
(200,262)
**1,195,007**
**(214,026)**
**14,292**
**995,273**
Unrestricted
Designated
Restricted
**TOTAL**
Funds
Funds
Funds
**2019**
£
£
£
£
1,158,289
0
0
1,158,289
22,838
(7,249)
9,912
25,501
0
(221,883)
0
(221,883)
**1,181,127**
**(229,132)**
**9,912**
**961,907**
**CURRENT YEAR**
**PREVIOUS YEAR**|
|---|---|
## **15. DIRECTORS AND OTHER RELATED PARTIES**
Out of pocket expenses were repaid to directors. No other payments were made to directors or any persons connected with them during this financial period. No material transaction took place between the organisation and a director or any person connected with them.
## **16. RISK ASSESSMENT**
The directors actively review the major risks which the charity faces on a regular basis and believe that maintaining the free reserves stated, combined with the annual review of the controls over key financial systems carried out on an annual basis will provide sufficient resources in the event of adverse conditions. The directors have also examined other operational and business risks which they face and confirm that they have established systems to mitigate the significant risks.
## **17. RESERVES POLICY**
The directors have considered the level of reserves they wish to retain, appropriate to the charity's needs. This is based on the charity's size and the level of financial commitments held. The directors aim to ensure the charity will be able to continue to fulfil its charitable objectives even if there is a temporary shortfall in income or unexpected expenditure. The directors will endeavour not to set aside funds unnecessarily. The policy is described in more detail in the directors report.
## **18. PUBLIC BENEFIT**
The charity acknowledges its requirement to demonstrate clearly that it must have charitable purposes or ‘aims’ that are for the public benefit. Details of how the charity has achieved this are provided in the directors report. The directors confirm that they have paid due regard to the Charity Commission guidance on public benefit before deciding what activities the charity should undertake.
18
INDEPENDENT EXAMINER’S REPORT ON THE ACCOUNTS
I report to the trustees on my examination of the accounts of the above charity for the year ended 31 December 2020.
As the charity's trustees (who are also the directors of the company for the purposes of company law), you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (“the Act”).
## **Responsibilties and basis of report**
I report in respect of my examination of the Charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination, I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
## **Independent examiner's statement**
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination which gives me cause to believe that in, any material respect:
- the accounting records were not kept in accordance with section 130 of the Charities Act; or
- · the accounts did not accord with the accounting records; or
- the accounts did not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair’ view which is not a matter considered as part of an independent examination.
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 accounts to be reached.
Signed: J Irvinesmith FCIE
Date: 9th September 2021
Independent Examiners Ltd Unit 2 The Broadbridge Business Centre Delling Lane Bosham West Sussex PO18 8NF
19