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2022-03-31-accounts

Charity registration number 1127055

Company registration number 06730025 (England and Wales)

KINGSLAND CHURCH COLCHESTER

ANNUAL REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2022

KINGSLAND CHURCH COLCHESTER

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees Gbolahan Alaka
Margaret Andrew
Andrew Courtier
Mee Foong Purser
Gemma Ferris (Appointed 1 October
2021)
Secretary Neil Loxley
Charity number 1127055
Company number 06730025
Registered office 86 London Road
Colchester
CO3 9DW
Auditor Streets Whittle & Partners LLP
The Old Exchange
64 West Stockwell Street
Colchester
Essex
CO1 1HE
Bankers CAF Bank Limited
25 Kings Hill Avenue
Kings Hill
West Malling
Kent
ME19 4QJ

KINGSLAND CHURCH COLCHESTER

CONTENTS

Page
Trustees' report 1 - 2
Statement of trustees' responsibilities 3
Independent auditor's report 4 - 7
Statement of financial activities 8
Balance sheet 9 - 10
Statement of cash flows 11
Notes to the financial statements 12 - 28

KINGSLAND CHURCH COLCHESTER

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT)

FOR THE YEAR ENDED 31 MARCH 2022

The trustees present their annual report and financial statements for the year ended 31 March 2022.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Companies Act 2006 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) " (effective 1 January 2019 ).

Objectives and activities

The charity's objects are to advance the Christian Faith in accordance with the statement of beliefs in the memorandum, to relieve those who are in need, hardship or are aged or sick and to promote and fulfil other purposes beneficial to the community. The main area of the charity's operations is the county of Essex.

During the year under review this has been carried out by receiving and using donations towards the running of the centre and operations of the church in Lexden in Colchester. The centre is being used as a church base for the benefit of the wider community. During the previous year we acquired the long leasehold of the site at 86 London Road. This includes the space currently occupied under lease to Aldi and IKAS. The lease payments will reduce the mortgage and the purchase will enable us in coming years to expand our community activities into some or all of that space.

The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.

Achievements and performance

Like the rest of the UK we were impacted by Covid in March 2020 and throughout the year s since . Church , cafe and community centre activities continue to recover, and we believe the church is stronger and larger than ever. We were able to take advantage of the furlough scheme during the first months of the year.

The trustees are satisfied with the financial situation and achievements of the charity.

Financial review

The trustees have examined the charity's requirements for reserves in the light of the main risks to the organisation and consider that whilst the long term loans are being repaid the charity should have net current assets, excluding loans, of between 3 to 6 months expenditure.

The trustees review all the salaries each year when the budgets are set with no employee's annual remuneration being £60,000 or more.

The trustees have assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.

Plans for future periods

The trustees continue to develop the ministry at 86 London Road in Lexden and on line.

Structure, governance and management

The charity is a company limited by guarantee incorporated on 22 October 2008 and registered as a charity. The company was established under a memorandum of association which established the objects and powers of the charitable company and is governed under its articles of association.

KINGSLAND CHURCH COLCHESTER

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:

Gbolahan Alaka Margaret Andrew Andrew Courtier Neil Loxley (Resigned 12 May 2022) Mee Foong Purser Gemma Ferris (Appointed 1 October 2021)

The organisation of the work of Kingsland Church is in the hands of the Trustees. The governing documents provide for new trustees to be appointed by the current trustees.

None of the trustees has any beneficial interest in the company. All of the trustees are members of the company and guarantee to contribute £1 in the event of a winding up.

The trustees work with the core leadership team and the small group of ministry leaders and members of the church.

Public Benefit

The leadership teams of the congregations are committed to enabling as many people to worship with our church and to become part of our church community. As trustees we are aware of the Charity Commission's guidance on public benefit and, in particular, the specific guidance on charities for advancement of religion.

We try to enable ordinary people to live out their faith as part of our community through mutual encouragement, teaching worship and prayer. We seek to provide pastoral care and opportunities to be involved in mission and outreach work and to facilitate this we maintain the fabric of the Church.

All are welcome to attend our regular services. During the year we have sought to provide a breadth of opportunities for worship appropriate for the mix of ages and backgrounds of the people within the orbit of the church.

Our weekly activities have continued on line and in person where possible and include those very suitable for anyone in the area who choose to attend. The various youth groups, choir, men's breakfasts, women's meetings, alpha courses etc. are available to all as appropriate. We provide grants for various people and projects in the area and across the world in line with our charity objectives for the promotion of the Christian faith and the relief of poverty. As well as that reflected in financial terms in the accounts we have various collections of food, shoeboxes and, of course, encourage volunteering for local and international charities.

Auditor

In accordance with the company's articles, a resolution proposing that Streets Whittle & Partners LLP be reappointed as auditor of the company will be put at a General Meeting.

The trustees' r eport was approved by the Board of Trustees.

Andrew Courtier Trustee

27 October 2022

KINGSLAND CHURCH COLCHESTER

STATEMENT OF TRUSTEES' RESPONSIBILITIES

FOR THE YEAR ENDED 31 MARCH 2022

The trustees, who are also the directors of Kingsland Church Colchester for the purpose of company law, are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company Law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year.

In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

KINGSLAND CHURCH COLCHESTER

INDEPENDENT AUDITOR'S REPORT

TO THE TRUSTEES OF KINGSLAND CHURCH COLCHESTER

Opinion

We have audited the financial statements of Kingsland Church Colchester (the ‘charity’) for the year ended 31 March 2022 which comprise the statement of financial activities, the balance sheet, the statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice) .

In our opinion, the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

KINGSLAND CHURCH COLCHESTER

INDEPENDENT AUDITOR'S REPORT (CONTINUED)

TO THE TRUSTEES OF KINGSLAND CHURCH COLCHESTER

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 require us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the s tatement of trustees' r esponsibilities, the trustees, who are also the directors of the charity for the purpose of company law, are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. Our approach to identifying and assessing the risks of material misstatement in respect of irregularities. including fraud and non-compliance with laws and regulations, was as follows:

We obtained an understanding of the laws and regulations applicable to the Charity and the sector in which they operate. We determined that the following laws and regulations were the most significant: the Charities Act 2011, UK GAAP, Charities SORP and tax legislation.

In addition, the Charity is subject to many other laws and regulations where the consequences of noncompliance could have a material effect on amounts or disclosures in the financial statements, for instance through the imposition of fines or litigation. We identified the following areas as those most likely to have such an effect: employment law and data protection. Auditing standards limit the required audit procedures to identify non-compliance with these laws and regulations to enquiry of Those Charged with Governance and other management and inspection of regulatory and legal correspondence if any.

We considered management’s opportunities for fraudulent manipulation of the financial statements (including revenue recognition and the risk of override of controls), and determined that the principal risks were related to posting inappropriate journal entries to manipulate financial results and management bias in accounting estimates.

KINGSLAND CHURCH COLCHESTER

INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF KINGSLAND CHURCH COLCHESTER

Audit response to risks identified

In respect of the considerations for fraud we incorporated within our audit testing compliance with the procedures for approving and authorising payments and also reviewed the minutes of the trustee meetings to confirm payments made to approvals at those meetings.

We designed audit procedures to respond to the risk, recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.

We focused on laws and regulations which could give rise to a material misstatement in the financial statements, including, but not limited to, the Charities Act 2011 and UK tax legislation.

Our tests included agreeing the financial statement disclosures to underlying supporting documentation and enquiries with management.

We made enquiries in relation to the allocation of income and expenditure between restricted and unrestricted funds.

We addressed the risk of management override of internal controls, including testing journals and evaluating whether there was evidence of bias by the trustees that represented a risk of material misstatement due to fraud.

The Senior Statutory Auditor has assessed and concluded that the engagement team collectively had the appropriate competence and capabilities to identify or recognise non-compliance with laws and regulations.

Due to the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https:// www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

KINGSLAND CHURCH COLCHESTER

INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF KINGSLAND CHURCH COLCHESTER

Use of our report

This report is made solely to the charity’s trustees, as a body, in accordance with part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity's trustees those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.

Rachel Skells BA FCA (Senior Statutory Auditor) for and on behalf of Streets Whittle & Partners LLP 27 October 2022

Chartered Accountants Statutory Auditor

The Old Exchange 64 West Stockwell Street Colchester Essex CO1 1HE

Streets Whittle & Partners LLP is eligible for appointment as auditor of the charity by virtue of its eligibility for appointment as auditor of a company under section 1212 of the Companies Act 2006.

KINGSLAND CHURCH COLCHESTER

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 MARCH 2022

Unrestricted
Restricted
funds
funds
2022
2022
Notes
£
£
Income and endowments from:
Donations and legacies
2
357,296
54,157
Charitable activities
3
107,894
-
Investments
4
489,530
-
Other income
5
169
-
Total income
954,889
54,157
Expenditure on:
Charitable activities
6
391,266
14,552
Other
11
92,427
-
Total expenditure
483,693
14,552
Net gains/(losses) on
investments
12
-
-
Gross transfers between
funds
-
-
Net income for the year/
Net movement in funds
471,196
39,605
Fund balances at 1 April 2021
1,677,156
19,765
Fund balances at 31 March
2022
2,148,352
59,370		 Total Unrestricted
Restricted
funds
funds
2022
2021
2021
£
£
£
411,453
323,422
34,553
107,894
25,475
-
489,530
243,160
-
169
-
-
1,009,046
592,057
34,553
405,818
401,951
13,172
92,427
54,724
-
498,245
456,675
13,172
-
226,511
-
-
76,941
(76,941)
510,801
438,834
(55,560)
1,696,921
1,238,322
75,325
2,207,722
1,677,156
19,765		 Total
2021
£
357,975
25,475
243,160
-
626,610
415,123
54,724
469,847
226,511
-
383,274
1,313,647
1,696,921

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.

KINGSLAND CHURCH COLCHESTER

BALANCE SHEET

AS AT 31 MARCH 2022

Notes
Fixed assets
Tangible assets
13
Investment properties
14
Current assets
Debtors
15
Cash at bank and in hand
Creditors: amounts falling due within
one year
17
Net current liabilities
Total assets less current liabilities
Creditors: amounts falling due after
more than one year
18
Net assets
Income funds
Restricted funds
20
Unrestricted funds		 2022
£
£
1,093,838
4,260,000
5,353,838
53,672
216,854
270,526
(639,692)
(369,166)
4,984,672
(2,776,950)
2,207,722
59,370
2,148,352
2,207,722		 2021
£
£
1,123,401
4,260,000
5,383,401
18,811
134,768
153,579
(521,889)
(368,310)
5,015,091
(3,318,170)
1,696,921
19,765
1,677,156
1,696,921

KINGSLAND CHURCH COLCHESTER

BALANCE SHEET (CONTINUED)

AS AT 31 MARCH 2022

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 March 2022, although an audit has been carried out under section 144 of the Charities Act 2011.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements under the requirements of the Companies Act 2006, for the year in question in accordance with section 476.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Trustees on 27 October 2022

Andrew Courtier

Trustee

Company registration number 06730025

KINGSLAND CHURCH COLCHESTER

STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED 31 MARCH 2022

Notes
Cash flows from operating activities
Cash generated from operations
23
Investing activities
Purchase of investment property
Investment income received
Net cash generated from/(used in)
investing activities
Financing activities
Proceeds from borrowings
Repayment of borrowings
Proceeds of new bank loans
Repayment of bank loans
Net cash (used in)/generated from
financing activities
Net increase/(decrease) in cash and cash
equivalents
Cash and cash equivalents at beginning of year
Cash and cash equivalents at end of year		 2022
£
-
489,530
-
(27,800)
-
(409,220)		 2021
£
£
£
29,576
70,879
(3,264,019)
243,160
489,530
(3,020,859)
50,000
(4,800)
3,800,000
(1,056,753)
(437,020)
2,788,447
82,086
(161,533)
134,768
296,301
216,854
134,768

KINGSLAND CHURCH COLCHESTER

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2022

1 Accounting policies

Charity information

Kingsland Church Colchester is a private company limited by guarantee incorporated in England and Wales. The registered office is 86 London Road, Colchester, CO3 9DW.

1.1 Accounting convention

The financial statements have been prepared in accordance with the charity's Memorandum and Articles of Association. the Companies Act 2006, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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). The charity is a Public Benefit Entity as defined by FRS 102.

The financial statements are prepared in sterling , which is the functional currency of the charity . Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties at fair value. The principal accounting policies adopted are set out below.

1.2 Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

1.4 Income

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

1.5 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 classified by activity. The costs of each activity are made up of the total of direct costs including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity.

KINGSLAND CHURCH COLCHESTER

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2022

1 Accounting policies

(Continued)

Costs classified as governance relate to the general running of the charity and include the operations of the Board of Trustees and addressing the constitutional audit of the accounts and other matters.

1.6 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Land and buildings

2% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities .

1.7 Investment properties

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in profit or loss.

1.8 Impairment of fixed assets

At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any ) .

1.9 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.10 Financial instruments

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the charity 's balance sheet when the charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial instruments are initially recognised at transaction value and subsequently measured at amortised cost. Financial assets comprise cash at bank and in hand, together with trade and other debtors. Cash at bank and in hand is defined as all cash held in instant access bank accounts and used as working capital. Financial liabilities held at amortised cost comprise all creditors except social security and other taxes.

KINGSLAND CHURCH COLCHESTER

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2022

1 Accounting policies

(Continued)

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity ’s contractual obligations expire or are discharged or cancelled.

1.11 Taxation

As a registered charity, the company is exempt from income and corporation tax to the extent that its income and gains are applicable to charitable purposes only.

The Charity is registered for Value Added Tax (registration number 341581805)

1.12 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.13 Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.14 Government grants

Government grants are recognised at the fair value of the asset receive d or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received .

2 Donations and legacies

Unrestricted
Restricted
funds
funds
2022
2022
£
£
Donations and gifts
338,344
53,257
Grants received
17,718
900
Other
1,234
-
357,296
54,157		 TotalUnrestricted
Restricted
funds
funds
2022
2021
2021
£
£
£
391,601
276,237
29,553
18,618
47,017
5,000
1,234
168
-
411,453
323,422
34,553		 Total
2021
£
305,790
52,017
168
357,975

KINGSLAND CHURCH COLCHESTER

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2022

2
Donations and legacies
Grants receivable for
core activities
Coronavirus Job
Retention Scheme
Essex Community Fund
Colchester Borough
Council
Colchester Catalyst
Charity		 6,218
-
11,500
-
17,718		 -
-
-
900
900		 6,218
-
11,500
900
18,618		 45,017
-
2,000
-
47,017		 (Continued)
-
45,017
5,000
5,000
-
2,000
-
-
5,000
52,017		 (Continued)
-
45,017
5,000
5,000
-
2,000
-
-
5,000
52,017
52,017

KINGSLAND CHURCH COLCHESTER

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2022

3 Charitable activities

Ministry &
Church
2022
£
Sales within charitable activities
-
Charitable rental income
66,670
66,670		 Cafe
Bookstore
2022
2022
£
£
38,248
2,976
-
-
38,248
2,976		 Total
2022
Ministry &
Church
2021
£
£
41,224
-
66,670
17,550
107,894
17,550		 Cafe
Bookstore
2021
2021
£
£
7,530
395
-
-
7,530
395		 Total
2021
£
7,925
17,550
25,475

KINGSLAND CHURCH COLCHESTER

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2022

4 Investments
Unrestricted Unrestricted
funds funds
2022 2021
£ £
Rental income 489,440 242,984
Interest receivable 90 176
489,530 243,160
5 Other income
Unrestricted Total
funds
2022 2021
£ £
Other income 169 -

KINGSLAND CHURCH COLCHESTER

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2022

6 Charitable activities

Ministry
& Church
2022
£
Staff costs
203,935
Depreciation and
impairment
29,563
Purchases
-
Costs of ministry
25,396
Costs of rental property
-
Bad debts
-
258,894
Grant funding of activities
(see note 7)
44,500
Share of support costs (see
note 8)
74,964
Share of governance costs
(see note 8)
3,750
382,108
Analysis by fund
Unrestricted funds
367,556
Restricted funds
14,552
382,108		 Cafe
Bookstore
Rental
property
2022
2022
2022
£
£
£
-
-
-
-
-
-
18,010
1,604
-
-
-
-
-
-
4,096
-
-
-
18,010
1,604
4,096
-
-
-
-
-
-
-
-
-
18,010
1,604
4,096
18,010
1,604
4,096
-
-
-
18,010
1,604
4,096		 Total
2022
£
203,935
29,563
19,614
25,396
4,096
-
282,604
44,500
74,964
3,750
405,818
391,266
14,552
405,818		 Total
2021
£
188,612
29,563
3,236
15,857
11,056
3,885
252,209
59,000
100,164
3,750
415,123
401,951
13,172
415,123

KINGSLAND CHURCH COLCHESTER

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2022

6
Charitable activities
For the year ended 31 March 2021
Ministry
& Church
£
Staff costs
188,612
Depreciation and impairment
29,563
Purchases
-
Costs of ministry
15,857
Costs of rental property
-
Bad debts
3,885
237,917
Grant funding of activities (see note 7)
59,000
Share of support costs (see note 8)
100,164
Share of governance costs (see note 8)
3,750
400,831
Analysis by fund
Unrestricted funds
387,659
Restricted funds
13,172
400,831		 (Continued)
Cafe
Bookstore
Rental
property
Total
2021
£
£
£
£
-
-
-
188,612
-
-
-
29,563
2,736
500
-
3,236
-
-
-
15,857
-
-
11,056
11,056
-
-
-
3,885
2,736
500
11,056
252,209
-
-
-
59,000
-
-
-
100,164
-
-
-
3,750
2,736
500
11,056
415,123
2,736
500
11,056
401,951
-
-
-
13,172
2,736
500
11,056
415,123		 (Continued)
Cafe
Bookstore
Rental
property
Total
2021
£
£
£
£
-
-
-
188,612
-
-
-
29,563
2,736
500
-
3,236
-
-
-
15,857
-
-
11,056
11,056
-
-
-
3,885
2,736
500
11,056
252,209
-
-
-
59,000
-
-
-
100,164
-
-
-
3,750
2,736
500
11,056
415,123
2,736
500
11,056
401,951
-
-
-
13,172
2,736
500
11,056
415,123
252,209
59,000
100,164
3,750
415,123
401,951
13,172
415,123

KINGSLAND CHURCH COLCHESTER

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2022

7 Grants payable
Ministry Ministry
& Church & Church
2022 2021
£ £
Grants to institutions (11 grants):
Colchester Foodbank 2,000 4,900
Cry in the Dark 5,700 10,700
CYO 9,000 11,000
Colchester CAP Centre 5,700 5,000
Love in Action - 5,000
Beacon House 400 -
Operation Mobilisation 4,050 5,400
International Justice Mission 2,000 -
Colchester Korban Project 2,000 4,000
Transformed International 2,000 2,000
The Christian Advice Service 2,000 3,000
DNA Leadership Training 1,650 -
36,500 51,000
Grants to individuals (1 grants) 8,000 8,000
44,500 59,000

Grants are given to a variety of members and organisations around the world who share similar beliefs and values to the charity. Priority is given to those with personal links with the church.

KINGSLAND CHURCH COLCHESTER

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2022

8 Support costs

Support
costs
Governance
costs
£
£
Property costs
32,420
-
Repairs & renewals
29,704
-
Office expenses
9,687
-
Other administration costs
2,452
-
Professional fees
701
-
Audit fees
-
3,750
74,964
3,750
Analysed between
Charitable activities
74,964
3,750		 2022
Support
costs
Governance
costs
£
£
£
32,420
27,030
-
29,704
31,876
-
9,687
37,157
-
2,452
698
-
701
3,403
-
3,750
-
3,750
78,714
100,164
3,750
78,714
100,164
3,750		 2021
£
27,030
31,876
37,157
698
3,403
3,750
103,914
103,914

Governance costs includes payments to the auditors of £ 3,750 (2021- £3,750) for audit fees.

9 Trustees

One of the trustees received remuneration during the year of £43,470 (2021 £41,400) for his role as a pastor.

Three of the trustees loaned the charity a total of £45,000 (2021 £45,000) in respect of the purchase of the new building. These amounts were still outstanding at the year end.

10 Employees

The average monthly number of employees during the year was:

2022 2021
Number Number
Administration 2 2
Pastors 4 4
Cafe 5 5
Total 11 11

KINGSLAND CHURCH COLCHESTER

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2022

10
Employees
Employment costs
Wages and salaries
Social security costs
Other pension costs		 (Continued)
2022
2021
£
£
178,977
164,848
5,342
5,328
1,565
1,534
185,884
171,710		 (Continued)
2022
2021
£
£
178,977
164,848
5,342
5,328
1,565
1,534
185,884
171,710
171,710

There were no employees whose annual remuneration was more than £60,000.

11 Other

Unrestricted Unrestricted
funds funds
2022 2021
Financing costs 92,427 54,724
12 Net gains/(losses) on investments
Total Unrestricted
funds
2022 2021
£ £
Revaluation of investment properties - 226,511

KINGSLAND CHURCH COLCHESTER

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2022

13 Tangible fixed assets
Land and buildings
£
Cost
At 1 April 2021 1,478,157
At 31 March 2022 1,478,157
Depreciation and impairment
At 1 April 2021 354,756
Depreciation charged in the year 29,563
At 31 March 2022 384,319
Carrying amount
At 31 March 2022 1,093,838
At 31 March 2021 1,123,401
14 Investment property
2022
£
Fair value
At 1 April 2021 and 31 March 2022 4,260,000

Investment property comprises freehold and leasehold properties. The fair value of the investment properties has been arrived at on the basis of valuations carried out in 2020 by Morley Riches & Ablewhite Chartered Surveyors and Gerald Eve Chartered Surveyors, who are not connected with the charity. The valuations were made on an open market value basis by reference to market evidence of transaction prices for similar properties.

Freehold
Long leasehold
Short leasehold		 2022
£
1,060,000
3,200,000
-
4,260,000		 2021
£
1,060,000
3,200,000
-
4,260,000

KINGSLAND CHURCH COLCHESTER

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2022

15
Debtors
Amounts falling due within one year:
Other debtors
Prepayments and accrued income
16
Loans and overdrafts
Bank loans
Other loans
Payable within one year
Payable after one year		 2022
£
52,172
1,500
53,672
2022
£
3,186,170
104,200
3,290,370
513,420
2,776,950		 2021
£
17,311
1,500
18,811
2021
£
3,595,390
132,000
3,727,390
409,220
3,318,170

The long-term loans are secured by fixed charges over the freehold land and buildings.

The long term bank loan is repayable over a term of 25 years from 2020 by regular instalments. Interest is charged at 2.5% above the base rate of the Bank of England.

17 Creditors: amounts falling due within one year

Notes
Bank loans
16
Other borrowings
Other taxation and social security
Deferred income
19
Trade creditors
Accruals and deferred income		 2022
£
409,220
104,200
22,591
95,382
4,195
4,104
639,692		 2021
£
409,220
-
11,959
95,382
1,179
4,149
521,889

KINGSLAND CHURCH COLCHESTER

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2022

18
Creditors: amounts falling due after more than one year
Notes
Bank loans
16
Other borrowings
19
Deferred income
Other deferred income
Deferred income is included in the financial statements as follows:
Deferred income is included within:
Current liabilities
Movements in the year:
Deferred income at 1 April 2021
Resources deferred in the year
Deferred income at 31 March 2022		 2022
£
2,776,950
-
2,776,950
2022
£
95,382
2022
£
95,382
95,382
-
95,382		 2021
£
3,186,170
132,000
3,318,170
2021
£
95,382
2021
£
95,382
-
95,382
95,382

Deferred income represents rental income received in advance.

KINGSLAND CHURCH COLCHESTER

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2022

20 Restricted funds

The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes:

Movement in funds Movement in funds
Balance at Resources Transfers Balance at Incoming Resources Balance at
1 April 2020 expended 1 April 2021 resources expended 31 March 2022
£ £ £ £ £ £ £
Rwanda
Orphans 738 (629) - 2,609 1,650 (1,897)
2,362
Relief Fund 5,133 (161) - 5,345 57 (368)
5,034
Guatemala 88 (3,237) - 4,279 2,000 (1,602)
4,677
Building
Fund 69,366 - (76,941) - - - -
Love in
Action - (450) - 160 600 (580)
180
Precious
Bundles - - - 3,367 1,074 (1,526)
2,915
Training - (6,000) - - - - -
Alaka
Support - (1,540) - 160 - - 160
Counselling - (1,155) - 3,845 900 (5,579)
(834)
Development
Fund - - - - 47,876 (3,000)
44,876
75,325 (13,172) (76,941) 19,765 54,157 (14,552)
59,370

The restricted funds are:

Rwanda Orphans - to support children's education in Rwanda through the provision of school fees. Relief Fund - for local people in need

Guatemala - to support a health centre in Guatemala Building Fund - offerings towards the purchase of the investment property in November 2020 Love in Action - Love in Action is a UK charity working with an NGO in Uganda providing education Precious Bundles - Precious bundles supports young families with the provision of used good quality clothing and some other items

Training - Training supports people in theological training Alaka Support Income - Alaka support helps Christians under pressure in northern Nigeria Counselling - Kingsland Counselling provide counselling sessions for local people Development Fund - For the design and reconfiguration of the whole site at 86 London Road

The building fund balance was been transferred to the general fund at March 2021 to offset the costs incurred in the purchase of the investment property in November 2020.

KINGSLAND CHURCH COLCHESTER

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2022

21 Analysis of net assets between funds
Unrestricted Restricted Total Unrestricted Restricted Total
funds funds funds funds
2022 2022 2022 2021 2021 2021
£ £ £ £ £ £
Fund balances at 31
March 2022 are
represented by:
Tangible assets 1,093,838 - 1,093,838 1,123,401 - 1,123,401
Investment properties
4,260,000		 - 4,260,000 4,260,000 - 4,260,000
Current assets/
(liabilities) (428,536) 59,370 (369,166)
(388,075)		 19,765 (368,310)
Long term liabilities (2,776,950) - (2,776,950)
(3,318,170)		 - (3,318,170)
2,148,352 59,370 2,207,722 1,677,156 19,765 1,696,921

Restricted funds represent amounts received for specific projects.

KINGSLAND CHURCH COLCHESTER

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2022

22 Related party transactions

At the balance sheet date o ne of the trustees, A Courtier, has made a loan of of £ 10,000 (202 1 £10,000) to assist with the purchase of a property.

At the balance sheet date o ne of the trustees, G Alaka, has made a loan of £10,000 (202 1 £ 10,000 ) to assist with the purchase of a property.

At the balance sheet date Lifepond Ltd , a company in which N Loxley, one of the trustees of Kingsland Church, is a director has made a loan of £ 25,000 (202 1 £2 5 ,000) to assist with the purchase of a property.

23
Cash generated from operations
Surplus for the year
Adjustments for:
Investment income recognised in statement of financial activities
Fair value gains and losses on investment properties
Depreciation and impairment of tangible fixed assets
Movements in working capital:
(Increase)/decrease in debtors
Increase in creditors
(Decrease)/increase in deferred income
Cash generated from operations
24
Analysis of changes in net (debt)/funds
At 1 April 2021
£
Cash at bank and in hand
134,768
Loans falling due within one year
(409,220)
Loans falling due after more than one year
(3,318,170)
(3,592,622)		 2022
2021
£
£
510,801
383,274
(489,530)
(243,160)
-
(226,511)
29,563
29,563
(34,861)
19,195
13,603
13,136
-
95,382
29,576
70,879
Cash flows At 31 March 2022
£
£
82,086
216,854
(104,200)
(513,420)
541,220
(2,776,950)
519,106
(3,073,516)