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2024-12-31-accounts

THE KING'S CHURCH EPSOM

ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

CHARITY REGISTRATION No: 1127019

COMPANY REGISTRATION No: 6745861

Independent Examiners Ltd The Grain Store Hills Barns Appledram Lane South Chichester West Sussex PO20 7EG

1

THE KING'S CHURCH EPSOM
(A COMPANY LIMITED BY GUARANTEE)
CONTENTS
Pages 3 to 8 Report of the Directors
Page 9 Statement of Financial Activities
Page 10 Balance Sheet
Pages 11 to 19 Notes to the Financial Statements
Page 20 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 2024
LEGAL AND ADMINISTRATIVE INFORMATION
CHARITY NUMBER 1127019
COMPANY REGISTRATION NUMBER 6745861
START OF FINANCIAL YEAR 1 January 2024
END OF FINANCIAL YEAR 31 December 2024
DIRECTORS WHO SERVED Mr A Olalekan
DURING THE YEAR TO Mr M Brook
31 DECEMBER 2024 Mr P Varugese
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
The Grain Store
Hills Barns,
Appledram Lane South,
Chichester,
West Sussex,
PO20 7EG
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 2024

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.

Introduction

In pursuing our activities for the year ended 31 December 2024, the Elders and Trustees of The King's Church Epsom have had due regard to the Charity Commission's guidance on operating for the public benefit. This report outlines our achievements, performance, and key developments across all areas of church life and operations during a year characterised by significant vision development and strategic planning for the future.

Financial Review

Our principal source of funding remains regular giving from Church members. We typically organise gift days and special offerings approximately twice a year for specific needs. In addition, we receive donations for the use of our building from the outside community.

For the year ended 31 December 2024:

Total income was £319,195 (compared to £258,253 in 2023) Total expenditure was £259,677 (compared to £245,000 in 2023)

This resulted in a surplus of £59,518 for the year (compared to a surplus of £13,253 in 2023)

Total free reserves as represented by unrestricted net current assets as of 31 December 2024 were £59,795 (compared to £14,023 at the end of 2023). If unrestricted designated "ringfenced" funds are also included, these figures are £66,363 at 31st December 2024 (£50,574 at the end of 2023).

We continue to make regular repayments on our Triodos loan, with an outstanding balance of £141,132 as of 31 December 2024, and the loan forecast to be completed by January 2030.

It is the policy of the Church to maintain enough reserves to cover three months of expenses including salaries and running costs. This currently equates to reserves of around £60,000, which we have maintained throughout the year.

4

THE KING'S CHURCH EPSOM

(A COMPANY LIMITED BY GUARANTEE)

REPORT OF THE DIRECTORS (continued) FOR THE YEAR ENDED 31 DECEMBER 2024

Governance and Administration

The Trustees continued to strengthen governance arrangements during 2024. Key developments included:

The church maintained its structure with Trustees responsible for legal and financial oversight, property management, safeguarding and regulatory compliance, whilst Elders provide spiritual oversight and leadership for vision and direction. The Leadership Strategy Support Team (LSST) continued to assist with the implementation of strategic initiatives.

Staffing and Volunteers

Key staffing developments during 2024 included:

We continue to appreciate and benefit from a significant amount of volunteer time given across various ministries, enabling the church to operate effectively and pursue its mission.

Achievements and performance against Charitable Objects

Object 1: To advance the Christian faith

Vision Development: 2024 was designated as a year devoted to prayerfully seeking God's direction for the church's future. Under the theme "Hearts Set On Pilgrimage" (based on Psalm 84:5), the church engaged in extensive prayer and visioning processes, culminating in the development of Vision 2034 - a comprehensive 10-year strategic plan.

Spiritual Growth and Discipleship:

Men's Ministry : A new men's fellowship was started and showed encouraging growth throughout the year.

Mission Activities:

Preaching and Teaching : Regular Sunday services continued with systematic preaching series including Exodus ("Called Out To Meet God"), Easter series ("Changed"), and Matthew ("Who Is This Jesus?").

5

THE KING'S CHURCH EPSOM

(A COMPANY LIMITED BY GUARANTEE)

REPORT OF THE DIRECTORS (continued) FOR THE YEAR ENDED 31 DECEMBER 2024

Object 2: To relieve sickness and financial hardship and to promote and preserve good health

Object 3: To advance education

Object 4: To provide or assist in the provision of facilities in the interests of social welfare for recreation or othe leisure time occupation of individuals

Building and Facilities

Significant property improvements were achieved in 2024:

Church Life and Community

Membership and Growth: The church experienced continued growth with a steady stream of new families visiting weekly and some choosing to become members. The Young Adult group showed particular growth.

Commission Partnership : Continued strong partnership with the Commission family of churches, with the Senior Pastor maintaining his role as London Hub leader covering nine churches in the London area. Plans were developed for increased church participation in Commission Festival events.

Membership and Young Adults Ministr y: The church maintained a thriving membership community with 127 members as at December 2024. Particularly encouraging has been the continued growth of our Young Adults group, which has become a vibrant and integral part of church life. This demographic has shown significant spiritual maturity and engagement, contributing to both the visioning process for 2034 and active participation in various ministry areas. The growth in this age group reflects both effective discipleship of existing young people and successful outreach to young adults in the local community.

Community Engagement : The church strengthened its community presence through various outreach initiatives and enhanced its reputation as a welcoming community centre.

6

THE KING'S CHURCH EPSOM (A COMPANY LIMITED BY GUARANTEE)

REPORT OF THE DIRECTORS (continued) FOR THE YEAR ENDED 31 DECEMBER 2024

Vision 2034: Strategic Planning for the Future

The culmination of 2024's visioning process was the development of Vision 2034, a comprehensive 10-year strategic plan focusing on building a strong community of committed disciples who actively share their faith and develop future leaders, whilst remaining faithful to biblical teaching and committed to prayer and community service.

Key elements of the vision include:

These targets will be regularly reviewed and adjusted based on actual growth patterns and changing circumstances, ensuring responsible stewardship of resources.

Financial Planning for Vision 2034

Recognising that the 10-year vision requires substantial financial backing, the church has committed to:

Looking Ahead

Key areas of focus for 2025 and beyond include:

1. Implementation of Vision 2034 : Beginning the systematic execution of the 10-year strategic plan

2. Leadership Development : Continued expansion and strengthening of the eldership and ministry team leadership

3. Discipleship Enhancement : Full implementation of the four-stage discipleship pathway

4. Community Outreach : Expansion of evangelistic and community engagement initiatives

5. Building and Facilities : Consideration of expansion plans to accommodate growth

6. Mission Expansion : Implementation of enhanced mission support and church planting initiatives

Conclusion

The year 2024 marked a pivotal period in The King's Church Epsom's history, characterised by extensive prayer, strategic visioning, and preparation for significant future growth and expansion. The church demonstrated continued faithfulness to its charitable objects whilst laying strong foundations for the ambitious Vision 2034.

Financial stewardship remained strong, governance was enhanced, and ministry effectiveness increased through strategic appointments and volunteer engagement. The development of a clear 10-year vision provides direction and motivation for the decade ahead.

The church enters 2025 well-positioned to begin implementing it’s mandate to build a thriving community of Spirit-filled disciples, with robust systems, committed leadership, and a congregation united around a compelling vision for the future.

As we move forward, we remain committed to our foundational charitable objects whilst embracing the exciting opportunities that lie ahead, confident in God's faithfulness and provision for the journey.

7

THE KING'S CHURCH EPSOM (A COMPANY LIMITED BY GUARANTEE)

REPORT OF THE DIRECTORS (continued) FOR THE YEAR ENDED 31 DECEMBER 2024

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 :-

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 2024, and confirm that I have made available all information necessary for its preparation.

Date: 22 September 2025

Signature: Print name: Adeshina Olalekan

8

THE KING'S CHURCH EPSOM

(A COMPANY LIMITED BY GUARANTEE)

STATEMENT OF FINANCIAL ACTIVITIES

FOR THE YEAR ENDED 31 DECEMBER 2024

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
2024
2023
£
£
£
£
£
253,828
3,100
23,678
280,606
230,171
31,458
4,258
1,531
37,247
27,250
1342
0
0
1342
778
0
0
0
0
54
286,628
7,358
25,209
319,195
258,253
902
0
0
902
86
225,574
23,622
9,579
258,775
244,914
0
0
0
0
0
226,476
23,622
9,579
259,677
245,000
60,152
(16,264)
15,630
59,518
13,253
31,328
(13,719)
(17,609)
0
0
91,480
(29,983)
(1,979)
59,518
13,253
1,019,745
36,551
3,711
1,060,007
1,046,754
1,111,225
6,568
1,732
1,119,525
1,060,007

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 11 to 19 form part of these financial statements.

9

THE KING'S CHURCH EPSOM

(A COMPANY LIMITED BY GUARANTEE)

COMPANY NO: 6745861

BALANCE SHEET AS AT 31 DECEMBER 2024

Unrestricted Designated Restricted 31-Dec-24 31-Dec-23
Funds Funds Funds Total Total
Note £ £ £ £ £
Fixed Assets
Tangible assets 6 1,159,838 0 0 1,159,838 1,135,818
Current Assets
Debtors 7 25,146 1,635 0 26,781 10,833
Cash at bank and in hand 8 78,285 4,933 2,220 85,438 88,970
Total Current Assets 103,431 6,568 2,220 112,219 99,803
Creditors:amounts falling due 9 43,636 0 488 44,124 45,518
within one year
NET CURRENT ASSETS 59,795 6,568 1,732 68,095 54,285
TOTAL ASSETSless current liabilities 1,219,633 6,568 1,732 1,227,933 1,190,103
Creditors:amounts falling 10 108,408 0 0 108,408 130,096
due in more than one year
NET ASSETS 1,111,225 6,568 1,732 1,119,525 1,060,007
Funds of the Charity
General Funds 1,111,225 0 0 1,111,225 1,019,745
Designated Funds 11 0 6,568 0 6,568 36,551
Restricted Funds 12 0 0 1,732 1,732 3,711
Total Funds 1,111,225 6,568 1,732 1,119,525 1,060,007

DIRECTORS' RESPONSIBILITIES:

The charitable company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The Directors consider that the company is entitled to exemption from the requirement to have an audit under the provisions of section 477 of the Companies Act 2006 ("the Act") and members have not required the company to obtain an audit 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 20.

The Directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

Print Name: Adeshina Olalekan

10

THE KING'S CHURCH EPSOM

(A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

1. ACCOUNTING POLICIES

Basis of preparation:

The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.

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 King's Church Epsom 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:

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.

11

THE KING'S CHURCH EPSOM (A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

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.

Government Grants

The charity has received a local government grant from Warm Spaces Surrey County Council during 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 £1,500. 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
Fixtures & Fittings
Land
2. INCOME AND ENDOWMENTS FROM:
a) Donations and Legacies
BACS Giving
Gift Aid Tax Reclaim
Grants
Offerings
Other Voluntary Income
Special Offerings
b) Charitable Activities
Other Charitable Activities
Rental Income
Youth Work		 150 years straight line
15% straight line
15% straight line
Not depreciated
Unrestricted
Designated
Restricted
TOTAL
TOTAL
Funds
Funds
Funds
2024
2023
£
£
£
£
£
171,169
0
0
171,169
154,248
39,125
620
0
39,745
34,999
1,500
0
16,497
17,997
0
29,829
0
0
29,829
24,587
0
0
0
0
2,300
12,205
2,480
7,181
21,866
14,037
253,828
3,100
23,678
280,606
230,171
567
0
1,531
2,098
1,940
30,891
0
0
30,891
23,641
0
4,258
0
4,258
1,669
31,458
4,258
1,531
37,247
27,250

12

THE KING'S CHURCH EPSOM

(A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 DECEMBER 2024

2. INCOME AND ENDOWMENTS FROM:
c) Investments
Bank Interest
d) Other
Miscellaneous Income
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
2024
2023
£
£
£
£
£
1,342
0
0
1,342
778
1,342
0
0
1,342
778
0
0
0
0
54
0
0
0
0
54
Unrestricted
Designated
Restricted
TOTAL
TOTAL
Funds
Funds
Funds
2024
2023
£
£
£
£
£
902
0
0
902
86
902
0
0
902
86
22
0
2,500
2,522
3,735
10,060
0
0
10,060
9,587
40
11,488
0
11,528
7,029
6,000
0
0
6,000
6,000
5,309
0
488
5,797
2,539
18,703
1,200
4,167
24,070
31,850
10,047
0
0
10,047
5,997
50,181
12,688
7,155
70,024
66,737

13

THE KING'S CHURCH EPSOM

(A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 DECEMBER 2024

3. EXPENDITURE ON:
Note
SUB-TOTAL BROUGHT FORWARD
Support Costs
Conferences
Depreciation
Equipment
Fees and Subscriptions
Flowers
Insurance
Literature and Supplies
Maintenance
Mortgage Interest
Motor and Travelling
Personnel Expenses
Printing, Postage, Stationery, Photocopy
Sundry Expenditure
Telephone
Utilities
Wages and Salaries
13
Governance Costs
Independent Examiner's Fees
Legal and Professional Fees
TOTAL CHARITABLE ACTIVITIES
c) Other
Miscellaneous Expenditure		 Unrestricted
Designated
Restricted
TOTAL
TOTAL
Funds
Funds
Funds
2024
2023
£
£
£
£
£
50,181
12,688
7,155
70,024
66,737
4,601
0
0
4,601
6,028
12,835
0
0
12,835
10,227
8,577
0
0
8,577
7,677
2,494
0
0
2,494
3,148
0
0
0
0
223
3,177
0
0
3,177
3,361
267
0
0
267
177
27,815
0
0
27,815
26,391
0
10,934
0
10,934
11,548
1,410
0
0
1,410
870
335
0
0
335
210
388
0
0
388
1,292
300
0
0
300
0
2,210
0
0
2,210
924
11,130
0
0
11,130
14,563
98,064
0
2,424
100,488
89,548
223,784
23,622
9,579
256,985
242,924
1,690
0
0
1,690
1,590
100
0
0
100
400
1,790
0
0
1,790
1,990
225,574
23,622
9,579
258,775
244,914
0
0
0
0
0
0
0
0
0
0

4. SUPPORT AND GOVERNANCE COSTS

Office and administration
Independent examiners fees		 Support
Governance
Total
£
£
£
257,085
0
257,085
0
1,690
1,690
257,085
1,690
258,775

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

2024 2023
£ £
1,690 1,590
0 0
0 0
0 0

14

THE KING'S CHURCH EPSOM

(A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 DECEMBER 2024

6. TANGIBLE FIXED ASSETS Church Church Furniture & Fixtures & TOTAL
Premises Premises Equipment Fittings
Land element Building element
Title No: SY515754 Title No: SY515754
£ £ £ £ £
Cost at 01-Jan-24 175,106 1,075,650 28,292 0 1,279,048
Additions 0 0 5,123 31,732 36,855
Cost at 31-Dec-24 175,106 1,075,650 33,415 31,732 1,315,903
Depreciation at 01-Jan-24 0 127,110 16,120 0 143,230
Charge 0 7,171 3,125 2,539 12,835
Depreciation at 31-Dec-24 0 134,281 19,245 2,539 156,065
Net Book Value 31-Dec-24 175,106 941,369 14,170 29,193 1,159,838
Net Book Value 31-Dec-23 175,106 948,540 17,295 0 1,140,941

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

HMRC Gift Aid Tax Recoverable
Accounts Receivable
Prepayments
Other Debtors		 Unrestricted
Designated
Restricted
Total
Total
Fund
Fund
Fund
31-Dec-24
31-Dec-23
£
£
£
£
£
19,403
262
0
19,665
10,833
5,297
1,373
0
6,670
0
388
0
0
388
0
58
0
0
58
0
25,146
1,635
0
26,781
10,833

8. CASH AT BANK AND IN HAND

Current Accounts
Deposit Accounts
Petty Cash		 Unrestricted
Designated
Restricted
Total
Total
Fund
Fund
Fund
31-Dec-24
31-Dec-23
£
£
£
£
£
39,337
4,933
2,220
46,490
50,774
38,826
0
0
38,826
37,884
122
0
0
122
312
78,285
4,933
2,220
85,438
88,970

15

THE KING'S CHURCH EPSOM

(A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 DECEMBER 2024

9. CREDITORS AND ACCRUALS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Accruals
Independent Examiners Fees
Triodos Loan under 1 year		 Unrestricted
Designated
Restricted
Total
Total
Fund
Fund
Fund
31-Dec-24
31-Dec-23
£
£
£
£
£
9,292
0
488
9,780
10,632
1,620
0
0
1,620
1,590
32,724
0
0
32,724
33,296
43,636
0
488
44,124
45,518

10. CREDITORS AND ACCRUALS: AMOUNTS FALLING DUE IN MORE THAN ONE YEAR

Triodos Loan over 1 year Unrestricted
Designated
Restricted
Total
Total
Fund
Fund
Fund
31-Dec-24
31-Dec-23
£
£
£
£
£
108,408
£
0
0
108,408
130,096
108,408
0
0
108,408
130,096

In 2009, the Church began a building project to extend the Church premises. The Church obtained a loan with Triodos bank. The church repays Triodos bank on a monthly basis. In 2024 these repayments totalled £33,193.72. Periodic interest of £10,934.28 was added to the loan by Triodos in 2024. The amount outstanding at 31st December 2024 was £141,132.10.

11. DESIGNATED FUNDS - MOVEMENT CURRENT YEAR

Children and Youth Work
New Beginnings Children's Home (Albania)
Building Project
Tea and Chat		 Balance
Transfers
Balance
01-Jan-24
Income
Expenditure
Btw Funds
31-Dec-24
£
£
£
£
£
312
4,258
(11,488)
7,341
423
0
0
(1,200)
1,200
0
36,017
3,100
(10,934)
(22,260)
5,923
222
0
0
0
222
36,551
7,358
(23,622)
(13,719)
6,568

11. DESIGNATED FUNDS - MOVEMENT PREVIOUS YEAR

Children and Youth Work
New Beginnings Children's Home (Albania)
Building Project
Tea and Chat		 Balance
Transfers
Balance
01-Jan-23
Income
Expenditure
Btw Funds
31-Dec-23
£
£
£
£
£
590
2,404
(5,732)
3,050
312
(548)
0
(1,200)
1,748
0
(163,144)
3,195
(11,548)
207,514
36,017
222
0
0
0
222
(162,880)
5,599
(18,480)
212,312
36,551

Designated Funds are represented by:

Cash at bank and in hand
Debtors
Creditors
Short term liabilities (Triodos loan)
Long term liabilities (Triodos loan)		 31-Dec-24
31-Dec-23
£
£
4,933
36,326
1,635
225
0
0
0
0
0
0
6,568
36,551

16

THE KING'S CHURCH EPSOM

(A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 DECEMBER 2024

12. RESTRICTED FUNDS - MOVEMENT CURRENT YEAR

Balance Transfers Balance
01-Jan-24 Income Expenditure Btw Funds 31-Dec-24
£ £ £ £ £
New Beginnings Children's Home (Albania) 28 0 (28) 0 0
Samaritans 749 3,324 (2,500) 0 1,573
Karuna Action (formerly Kingscare) 1 0 (1) 0 0
Pastoral Fund 0 2,424 (2,424) 0 0
Adhoc Fund 2,933 19,461 (4,626) (17,609) 159
3,711 25,209 (9,579) (17,609) 1,732
12. RESTRICTED FUNDS - MOVEMENT PREVIOUS YEAR
Balance
01-Jan-23
£
New Beginnings Children's Home (Albania)
28
Samaritans
3,124
Karuna Action (formerly Kingscare)
1
Pastoral Fund
1,008
Adhoc Fund
11,231
Children and Youth
1,085		 Income
£
0
1,225
0
2,424
601
0		 Expenditure
£
0
(3,600)
0
(3,432)
(102)
0		 Transfers
Btw Funds
£
0
0
0
0
(8,797)
(1,085)		 Balance
31-Dec-23
£
28
749
1
0
2,933
0
16,477 4,250 (7,134) (9,882) 3,711

Any restricted funds in deficit will be replenished in the following financial year.

The New Beginnings Fund relates to the upkeep of a Children's Home in Tirana, Albania.

Karuna Action (Formerly Kingscare) is a Christian relief charity.

Restricted Funds are represented by:

Cash at bank and in hand

----- Start of picture text -----
31-Dec-24 31-Dec-23
£ £
1,732 3,711
1,732 3,711
----- End of picture text -----

17

THE KING'S CHURCH EPSOM

(A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 DECEMBER 2024

12. RESTRICTED FUNDS - EXPLANATION OF TRANSFERS BETWEEN FUNDS

An internal review of funds exercise was carried out by the Church during 2023 and 2024. This exercise revealed some historic misallocations between funds, ie - Income posted to one fund and the relevant payments out posted to another fund.

The following fund transfers occurred in 2023 to correct these misallocations:

Ad-Hoc
Ad-Hoc
Kids Youth		 General
Designated
Restricted
Fund
Fund
Fund
£
£
£
(1,564)
0
1,564
to Correct Misallocation of Income & Expenses between funds
10,361
0
(10,361) to Correct Misallocation of Income & Expenses between funds
0
1,085
(1,085) to Correct Misallocation of Income & Expenses between funds
8,797
1,085
(9,882)

The following fund transfers occurred in 2024:

Ad-Hoc
Ad-Hoc
Ad-Hoc
Ad-Hoc		 General
Designated
Restricted
Fund
Fund
Fund
£
£
£
2,160
0
(2,160)
16,497
0
(16,497)
805
0
(805)
(1,853)
0
1,853
17,609
0
(17,609)
contribution
from
CAP
towards
general
costs
for
running
courses. The funds were not restricted, and should not have
been placed in this fund.
to clear the deficit re the Mozambique 2024 mission from
general fund
contribution from St Paul's Howell Hill towards general costs
for running courses. The funds were not restricted, and should
not have been placed in this fund.
Fixed assets (solar panels) capitalised. The terms of the grant
were fulfilled upon purchase of the assets, enabling it to be
transferred to general fund for ongoing use by the charity.

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		 2024
2023
£
£
90,164
79,668
4,019
4,464
6,305
5,416
100,488
89,548

Average number of employees who were engaged in each of the following activities:

2024 2023
TOTAL TOTAL
Activities in furtherance of organisation's objects 2.75 2.67

At the start of the period, the church employed two full time staff members and one part time staff member. At the end of the period, the church employed two full time staff members and one part time staff member.

No employees received emoluments in excess of £60,000 (2023: None). Staff are paid through the PAYE system.

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 £6,305 (2023: £5,416).

The key management personnel of the charity comprise the Board of Trustees and Senior Pastors. No Trustees are remunerated. The total employee benefits (including salaries, employer national insurance and employer pension contributions) paid to the key management personnel of the charity was £79,329 (2023: £61,264)

18

THE KING'S CHURCH EPSOM (A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 DECEMBER 2024

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
2024
£
£
£
£
1,159,838
0
0
1,159,838
59,795
6,568
1,732
68,095
(108,408)
0
0
(108,408)
1,111,225
6,568
1,732
1,119,525
Unrestricted
Designated
Restricted
TOTAL
Funds
Funds
Funds
2023
£
£
£
£
1,135,818
0
0
1,135,818
14,023
36,551
3,711
54,285
(130,096)
0
0
(130,096)
1,019,745
36,551
3,711
1,060,007
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.

Aggregate giving to the Church totalling £21,895 was received from 4 directors (and/or their spouse) in 2024 (2023: £18,332). There were no conditions attached to these donations.

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.

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INDEPENDENT EXAMINER’S REPORT ON THE ACCOUNTS

I report to the trustees on my examination of the accounts of The King's Church Epsom for the year ended 31 December 2024.

Responsibilities and basis of report

As the charity’s trustees of the charitable company (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 Companies Act 2006 (“the 2006 Act”).

Having satisfied myself that the accounts of the charitable company are not required to be audited for this year under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity’s accounts as carried out under section 145 of the Charities Act 2011 (“the 2011 Act”). In carrying out my examination, I have followed the Directions given by the Charity Commission (under section 145(5)(b) of the 2011 Act.

The charitable company’s gross income exceeded £250,000 and I am qualified to undertake the examination by being a member of The Association of Charity Independent Examiners.

Independent examiner's statement

I have completed my examination. I confirm that no material matters have come to my attention which gives me cause to believe that:

I have no other 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: 22 September 2025

Independent Examiners Ltd The Grain Store Hills Barns, Appledram Lane South, Chichester, West Sussex, PO20 7EG

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