**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 2024**
## **KINGSLAND CHURCH COLCHESTER**
## **LEGAL AND ADMINISTRATIVE INFORMATION**
|**Trustees**|Gbolahan Alaka||
|---|---|---|
||Andrew Courtier||
||Mee Foong Purser||
||Gemma Ferris||
||Sikiratu Adebayo|(Appointed 1 September 2024)|
|**Secretary**|Neil Loxley||
|**Charity number**|1127055||
|**Company number**|06730025||
|**Registered office**|86 London Road||
||Colchester||
||CO3 9DW||
|**Auditor**|Streets Audit LLP||
||c/o 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 - 3|
|Statement of trustees' responsibilities|4|
|Independent auditor's report|5 - 8|
|Statement of financial activities|9|
|Balance sheet|10 - 11|
|Statement of cash flows|12|
|Notes to the financial statements|13 - 29|
## **KINGSLAND CHURCH COLCHESTER**
## **TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT)**
## _**FOR THE YEAR ENDED 31 MARCH 2024**_
The trustees present their annual report and financial statements for the year ended 31 March 2024.
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. In 2021 we acquired the virtual freehold of the whole site at 86 London Road. This included the space occupied under lease to Aldi and IKAS. The lease payments reduced the mortgage and the purchase will enable us in coming years to expand our community activities into some or all of that space. We take over the Aldi space at the beginning of Dec 2024 and are seeking to develop that space for community use. IKAS remain as anchor tenants.
## _Public benefit_
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.
## **Achievements and performance**
## _Significant activities and achievements against objectives_
The trustees are satisfied with the financial situation and achievements of the charity.
## **Financial review**
## _Reserves policy_
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 designated funds represent monies allocated to the purchase and development of the centre at 86 London Road. This property purchase and mortgage has been funded from the investment income from the main tenant and other funds set aside for purpose. We expect the liquid assets in this fund to resource the development works to transform the ground floor from an empty shop to a vibrant community centre.
## _Major risks_
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.
- 1 -
## **KINGSLAND CHURCH COLCHESTER**
## **TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2024**_
## **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.
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 (Resigned 22 April 2024) Andrew Courtier Mee Foong Purser Gemma Ferris Sikiratu Adebayo (Appointed 1 September 2024)
## _Recruitment and appointment of trustees_
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.
## _Organisational structure_
The trustees work with the core leadership team and the small group of ministry leaders and partners of the church.
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 and include those very suitable for anyone in the area who chooses to attend. The centre is used by well over 100 groups each week for everything from Art to Zumba and the cafe is a popular meeting place. The various youth groups, the film club, toddler groups, choir, men's breakfasts, women's meetings, alpha courses and most of the community groups etc.
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, clothing, shoeboxes and, of course, encourage volunteering for local and international charities.
## **Auditor**
In accordance with the company's articles, a resolution proposing that Streets Audit LLP be reappointed as auditor of the company will be put at a General Meeting.
- 2 -
## **KINGSLAND CHURCH COLCHESTER**
## **TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2024**_
The trustees' report was approved by the Board of Trustees.
Andrew Courtier **Trustee**
10 December 2024
- 3 -
## **KINGSLAND CHURCH COLCHESTER**
## **STATEMENT OF TRUSTEES' RESPONSIBILITIES**
## _**FOR THE YEAR ENDED 31 MARCH 2024**_
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:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charities SORP;
- make judgements and estimates that are reasonable and prudent;
- state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
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.
- 4 -
## **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 2024 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:
- give a true and fair view of the state of the charitable company's affairs as at 31 March 2024 and of its incoming resources and application of resources, for the year then ended;
- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
- have been prepared in accordance with the requirements of the Companies Act 2006.
## **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.
- 5 -
## **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:
- the information given in the financial statements is inconsistent in any material respect with the trustees' report; or
- sufficient accounting records have not been kept; or
- the financial statements are not in agreement with the accounting records; or
- we have not received all the information and explanations we require for our audit.
## **Responsibilities of trustees**
As explained more fully in the statement of trustees' responsibilities, 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 non-compliance 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 noncompliance 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.
- 6 -
## **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.
## **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 auditor's 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.
- 7 -
## **KINGSLAND CHURCH COLCHESTER**
## **INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF KINGSLAND CHURCH COLCHESTER**
**Rachel Skells BA FCA (Senior Statutory Auditor) for and on behalf of Streets Audit LLP**
**Chartered Accountants Statutory Auditor**
10 December 2024 c/o The Old Exchange 64 West Stockwell Street Colchester Essex CO1 1HE
Streets Audit 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.
- 8 -
## **KINGSLAND CHURCH COLCHESTER**
## **STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT**
## _**FOR THE YEAR ENDED 31 MARCH 2024**_
|**Unrestricted**
**Restricted**
**funds**
**funds**
**2024**
**2024**
**Notes**
**£**
**£**
**Income and endowments from:**
Donations and legacies
**2**
452,592
93,422
Charitable activities
**3**
151,413
-
Investments
**4**
490,163
-
Other income
**5**
55
-
**Total income**
1,094,223
93,422
**Expenditure on:**
Charitable activities
**6**
541,755
30,324
Other expenditure
**12**
189,507
-
**Total expenditure**
731,262
30,324
Net gains/(losses) on
investments
**13**
-
-
**Net income**
362,961
63,098
Transfers between
funds
4,678
(4,678)
**Net movement in**
**funds**
**9**
367,639
58,420
**Reconciliation of funds:**
Fund balances at 1 April 2023
2,685,115
44,915
**Fund balances at 31 March**
**2024**
3,052,754
103,335|**Total**
**Unrestricted**
**Restricted**
**funds**
**funds**
**2024**
**2023**
**2023**
**£**
**£**
**£**
546,014
393,627
26,026
151,413
139,436
-
490,163
492,909
-
55
388
1,800
1,187,645
1,026,360
27,826
572,079
452,869
42,281
189,507
134,522
-
761,586
587,391
42,281
-
97,794
-
426,059
536,763
(14,455)
-
-
-
426,059
536,763
(14,455)
2,730,030
2,148,352
59,370
3,156,089
2,685,115
44,915|**Total**
**2023**
**£**
419,653
139,436
492,909
2,188|
|---|---|---|
|||1,054,186|
|||495,150
134,522|
|||629,672|
|||97,794|
|||522,308
-|
|||522,308
2,207,722|
|||2,730,030|
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
- 9 -
## **KINGSLAND CHURCH COLCHESTER**
## **BALANCE SHEET**
## _**AS AT 31 MARCH 2024**_
|**Notes**
**Fixed assets**
Tangible assets
**15**
Investment property
**16**
**Current assets**
Debtors
**17**
Cash at bank and in hand
**Creditors: amounts falling due within one**
**year**
**19**
**Net current assets/(liabilities)**
**Total assets less current liabilities**
**Creditors: amounts falling due after more**
**than one year**
**20**
**Net assets**
**The funds of the charity**
Restricted income funds
**23**
Unrestricted funds - general
**24**
Unrestricted funds - Designated Funds|**2024**
**£**
**£**
1,034,712
4,357,794
5,392,506
36,716
313,621
350,337
(228,409)
121,928
5,514,434
(2,358,345)
3,156,089
103,335
72,754
2,980,000
3,156,089|**2023**
**£**
**£**
1,064,275
4,357,794
5,422,069
34,851
105,000
139,851
(614,160)
(474,309)
4,947,760
(2,217,730)
2,730,030
44,915
2,685,115
-
2,730,030|
|---|---|---|
- 10 -
## **KINGSLAND CHURCH COLCHESTER**
## **BALANCE SHEET (CONTINUED)**
## _**AS AT 31 MARCH 2024**_
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 2024, 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 10 December 2024
Andrew Courtier
## **Trustee**
Company registration number 06730025 (England and Wales)
- 11 -
## **KINGSLAND CHURCH COLCHESTER**
## **STATEMENT OF CASH FLOWS**
## _**FOR THE YEAR ENDED 31 MARCH 2024**_
|||**2024**||**2023**||
|---|---|---|---|---|---|
||**Notes**|**£**|**£**|**£**|**£**|
|**Cash flows from operating activities**||||||
|Cash absorbed by operations|**27**||(47,636)||(8,343)|
|**Investing activities**||||||
|Investment income received||490,163||492,909||
|**Net cash generated from investing activities**|||490,163||492,909|
|**Financing activities**||||||
|Repayment of borrowings||(10,000)||(37,200)||
|Repayment of bank loans||(223,906)||(559,220)||
|**Net cash used in financing activities**|||(233,906)||(596,420)|
|**Net increase/(decrease) in cash and cash**||||||
|**equivalents**|||208,621||(111,854)|
|Cash and cash equivalents at beginning of year|||105,000||216,854|
|**Cash and cash equivalents at end of year**|||313,621||105,000|
- 12 -
**NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 31 MARCH 2024**_
## **KINGSLAND CHURCH COLCHESTER**
## **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 amounts 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 or grantors 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.
- 13 -
## **KINGSLAND CHURCH COLCHESTER**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 MARCH 2024**_
## **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 property**
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.
- 14 -
## **KINGSLAND CHURCH COLCHESTER**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 MARCH 2024**_
## **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 received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.
## **2 Income from donations and legacies**
|**Unrestricted**
**Restricted**
**funds**
**funds**
**2024**
**2024**
**£**
**£**
Donations and gifts
406,578
90,644
Grants
43,780
2,778
Other
2,234
-
452,592
93,422
**Grants**
Other
43,780
2,778
43,780
2,778|**Total**
**Unrestricted**
**Restricted**
**funds**
**funds**
**2024**
**2023**
**2023**
**£**
**£**
**£**
497,222
392,265
10,511
46,558
-
15,515
2,234
1,362
-
546,014
393,627
26,026
46,558
-
15,515
46,558
-
15,515|**Total**
**2023**
**£**
402,776
15,515
1,362|
|---|---|---|
|||419,653|
|||15,515|
|||15,515|
- 15 -
## **KINGSLAND CHURCH COLCHESTER**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 MARCH 2024**_
## **3 Income from charitable activities**
|**Ministry &**
**Church**
**2024**
**£**
Sale of goods
-
Charitable rental income
80,269
80,269
**Analysis by fund**
Unrestricted funds - general
80,269|**Cafe**
**Bookstore**
**2024**
**2024**
**£**
**£**
68,866
2,278
-
-
68,866
2,278
68,866
2,278|**Total**
**Ministry &**
**Church**
**2024**
**2023**
**£**
**£**
71,144
-
80,269
80,969
151,413
80,969
231,682
80,969|**Cafe**
**Bookstore**
**2023**
**2023**
**£**
**£**
55,360
3,107
-
-
55,360
3,107
55,360
3,107|**Total**
**2023**
**£**
58,467
80,969|
|---|---|---|---|---|
|||||139,436|
|||||139,436|
- 16 -
## **KINGSLAND CHURCH COLCHESTER**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2024**_
## **4 Income from investments**
||**Unrestricted**|**Unrestricted**|
|---|---|---|
||**funds**|**funds**|
||**2024**|**2023**|
||**£**|**£**|
|Rental income|488,607|492,575|
|Interest receivable|1,556|334|
||490,163|492,909|
## **5 Other income**
||**Unrestricted**|**Restricted**|**Total**|**Unrestricted**|**Restricted**|**Total**|
|---|---|---|---|---|---|---|
||**funds**|**funds**||**funds**|**funds**||
||**2024**|**2024**|**2024**|**2023**|**2023**|**2023**|
||**£**|**£**|**£**|**£**|**£**|**£**|
|Other income|55|-|55|388|1,800|2,188|
- 17 -
## **KINGSLAND CHURCH COLCHESTER**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 MARCH 2024**_
|**6**
**Expenditure on charitable activities**
**Ministry &**
**Church**
**2024**
**£**
**Direct costs**
Staff costs
244,957
Depreciation and impairment
29,563
Purchases
-
Costs of ministry
31,268
Costs of rental property
-
Costs of development
7,518
Bad debts
2,046
315,352
Grant funding of activities (see note 7)
70,000
**Share of support and governance costs (see note 8)**
Support
140,245
Governance
4,925
530,522
**Analysis by fund**
Unrestricted funds - general
500,198
Restricted funds
30,324
530,522|**Cafe**
**Bookstore**
**Rental**
**property**
**2024**
**2024**
**2024**
**£**
**£**
**£**
-
-
-
-
-
-
37,013
1,152
-
-
-
-
-
-
3,392
-
-
-
-
-
-
37,013
1,152
3,392
-
-
-
-
-
-
-
-
-
37,013
1,152
3,392
37,013
1,152
3,392
-
-
-
37,013
1,152
3,392|**Total**
**2024**
**£**
244,957
29,563
38,165
31,268
3,392
7,518
2,046|
|---|---|---|
|||356,909
70,000
140,245
4,925|
|||572,079|
|||541,755
30,324|
|||572,079|
- 18 -
## **KINGSLAND CHURCH COLCHESTER**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 MARCH 2024**_
|**6**
**Expenditure on charitable activities**
**Previous year:**
**Ministry &**
**Church**
**2023**
**£**
**Direct costs**
Staff costs
223,940
Depreciation and impairment
29,563
Purchases
-
Costs of ministry
62,766
Costs of rental property
-
Bad debts
1,334
317,603
Grant funding of activities (see note 7)
59,998
**Share of support and governance costs (see note 8)**
Support
77,090
Governance
4,500
459,191
**Analysis by fund**
Unrestricted funds - general
416,910
Restricted funds
42,281
459,191|**(Continued)**
**Cafe**
**Bookstore**
**Rental**
**property**
**Total**
**2023**
**2023**
**2023**
**2023**
**£**
**£**
**£**
**£**
-
-
-
223,940
-
-
-
29,563
28,302
1,447
-
29,749
-
-
-
62,766
-
-
6,210
6,210
-
-
-
1,334
28,302
1,447
6,210
353,562
-
-
-
59,998
-
-
-
77,090
-
-
-
4,500
28,302
1,447
6,210
495,150
28,302
1,447
6,210
452,869
-
-
-
42,281
28,302
1,447
6,210
495,150|**(Continued)**
**Cafe**
**Bookstore**
**Rental**
**property**
**Total**
**2023**
**2023**
**2023**
**2023**
**£**
**£**
**£**
**£**
-
-
-
223,940
-
-
-
29,563
28,302
1,447
-
29,749
-
-
-
62,766
-
-
6,210
6,210
-
-
-
1,334
28,302
1,447
6,210
353,562
-
-
-
59,998
-
-
-
77,090
-
-
-
4,500
28,302
1,447
6,210
495,150
28,302
1,447
6,210
452,869
-
-
-
42,281
28,302
1,447
6,210
495,150|
|---|---|---|
|||353,562
59,998
77,090
4,500|
|||495,150|
|||452,869
42,281|
|||495,150|
- 19 -
## **KINGSLAND CHURCH COLCHESTER**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 MARCH 2024**_
|**7**|**Grants payable**|||
|---|---|---|---|
|||**Ministry**|**Ministry**|
|||**& Church**|**& Church**|
|||**2024**|**2023**|
|||**£**|**£**|
||Grants to institutions:|||
||Colchester Foodbank|2,000|4,000|
||Cry in the Dark|9,300|8,000|
||CYO|10,000|12,000|
||Colchester CAP Centre|5,700|5,700|
||Love in Action|6,040|5,000|
||FFF & Pentecost|2,668|400|
||KCGC Mission|800|-|
||CSW mission|500|675|
||International Justice Mission|2,000|2,000|
||Fusion Mission|500|2,000|
||Colchester Korban Project|9,000|4,000|
||Transformed International|2,500|2,000|
||The Christian Advice Service|2,000|2,000|
||Beacon House Ministries|500|-|
||Sixty Ten Arts|600|100|
||The Fathers Joy|250|-|
||Other|6,007|2,625|
|||60,115|50,500|
||Grants to individuals|9,885|9,498|
|||70,000|59,998|
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.
- 20 -
## **KINGSLAND CHURCH COLCHESTER**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 MARCH 2024**_
|**8**
**Support costs**
**Support costs Governance**
**costs**
**£**
**£**
Property costs
38,904
-
Repairs & renewals
85,979
-
Office expenses
12,057
-
Other administration costs
2,460
-
Professional fees
845
-
Audit fees
-
4,925
140,245
4,925
Analysed between
Charitable activities
140,245
4,925|**2024**
Support
costs
Governance
costs
**£**
£
£
38,904
35,675
-
85,979
27,005
-
12,057
9,228
-
2,460
4,707
-
845
475
-
4,925
-
4,500
145,170
77,090
4,500
145,170
77,090
4,500|2023
£
35,675
27,005
9,228
4,707
475
4,500|
|---|---|---|
|||81,590|
|||81,590|
|**9**|**Net movement in funds**|**2024**|**2023**|
|---|---|---|---|
|||**£**|**£**|
||The net movement in funds is stated after charging/(crediting):|||
||Fees payable for the audit of the charity's financial statements|4,925|4,500|
||Depreciation of owned tangible fixed assets|29,563|29,563|
## **10 Trustees**
None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.
Two of the trustees loaned the charity a total of £15,000 (2023 three trustees - £45,000) in respect of the purchase of the new building. These amounts were still outstanding at the year end.
## **11 Employees**
The average monthly number of employees during the year was:
||**2024**|**2023**|
|---|---|---|
||**Number**|**Number**|
|Administration|2|2|
|Pastors|4|4|
|Cafe|5|5|
|Total|11|11|
- 21 -
## **KINGSLAND CHURCH COLCHESTER**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 MARCH 2024**_
|**11**
**Employees**
**Employment costs**
Wages and salaries
Social security costs
Other pension costs|**(Continued)**
**2024**
**2023**
**£**
**£**
211,951
196,234
7,642
7,272
2,168
1,953
221,761
205,459|**(Continued)**
**2024**
**2023**
**£**
**£**
211,951
196,234
7,642
7,272
2,168
1,953
221,761
205,459|
|---|---|---|
|||205,459|
There were no employees whose annual remuneration was more than £60,000.
|**12**|**Other**|||
|---|---|---|---|
|||**Unrestricted**|Unrestricted|
|||**funds**|funds|
|||**general**|general|
|||**2024**|2023|
||Financing costs|189,507|134,522|
|**13**|**Gains and losses on investments**|||
|||**Unrestricted**|**Unrestricted**|
|||**funds**|**funds**|
|||**2024**|**2023**|
||Gains/(losses) arising on:|**£**|**£**|
||Revaluation of investment properties|-|97,794|
## **14 Taxation**
The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.
- 22 -
## **KINGSLAND CHURCH COLCHESTER**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 MARCH 2024**_
|**15**
**Tangible fixed assets**
**Cost**
At 1 April 2023
At 31 March 2024
**Depreciation and impairment**
At 1 April 2023
Depreciation charged in the year
At 31 March 2024
**Carrying amount**
At 31 March 2024
At 31 March 2023
**16**
**Investment property**
**Fair value**
At 1 April 2023 and 31 March 2024|**Land and**
**buildings**
**£**
1,478,157|
|---|---|
||1,478,157|
||413,882
29,563|
||443,445|
||1,034,712|
||1,064,275|
||**2024**
**£**
4,357,794|
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 December 2022 by Morley Riches & Ablewhite 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|**2024**
**£**
1,200,000
3,157,794
4,357,794|**2023**
**£**
1,200,000
3,157,794|
|---|---|---|
|||4,357,794|
- 23 -
## **KINGSLAND CHURCH COLCHESTER**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 MARCH 2024**_
|**17**
**Debtors**
**Amounts falling due within one year:**
Other debtors
Prepayments and accrued income
**18**
**Loans and overdrafts**
Bank loans
Other loans
Payable within one year
Payable after one year
Amounts included above which fall due after five years:
Payable by instalments|**2024**
**£**
31,901
4,815
36,716
**2024**
**£**
2,403,044
57,000
2,460,044
101,699
2,358,345
2,140,651|**2023**
**£**
30,030
4,821|
|---|---|---|
|||34,851|
|||**2023**
**£**
2,626,950
67,000|
|||2,693,950|
|||476,220
2,217,730|
|||2,201,533|
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.
## **19 Creditors: amounts falling due within one year**
|**Notes**
Bank loans
**18**
Other borrowings
Other taxation and social security
Deferred income
**21**
Trade creditors
Accruals|**2024**
**£**
44,699
57,000
19,114
95,382
5,793
6,421
228,409|**2023**
**£**
409,220
67,000
26,168
95,382
11,834
4,556|
|---|---|---|
|||614,160|
- 24 -
## **KINGSLAND CHURCH COLCHESTER**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 MARCH 2024**_
|**20**
**Creditors: amounts falling due after more than one year**
**Notes**
Bank loans
**18**
**21**
**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 2023
Released from previous periods
Resources deferred in the year
Deferred income at 31 March 2024
Deferred income represents rental income received in advance.
**22**
**Retirement benefit schemes**
**Defined contribution schemes**
Charge to profit or loss in respect of defined contribution schemes|**2024**
**£**
2,358,345
**2024**
**£**
95,382
**2024**
**£**
95,382
95,382
(95,382)
95,382
95,382
**2024**
**£**
2,168|**2023**
**£**
2,217,730
**2023**
**£**
95,382
**2023**
**£**
95,382
95,382
(95,382)
95,382
95,382
**2023**
**£**
1,953|
|---|---|---|
The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund.
- 25 -
## **KINGSLAND CHURCH COLCHESTER**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2024**_
## **23 Restricted funds**
The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.
||**At 1 April 2023**|**Incoming**|**Resources**|**Transfers**|**At 31 March**|
|---|---|---|---|---|---|
|||**resources**|**expended**||**2024**|
||**£**|**£**|**£**|**£**|**£**|
|Rwanda Orphans|1,721|1,260|(1,879)|-|1,102|
|Relief Fund|2,041|6,938|(5,252)|-|3,727|
|Guatemala|4,678|-|-|(4,678)|-|
|Love in Action|180|-|-|-|180|
|Precious Bundles|3,833|-|(3,853)|-|(20)|
|Alaka Support|360|-|-|-|360|
|Counselling|3,692|2,778|(3,422)|-|3,048|
|Development Fund|26,974|73,841|(7,518)|-|93,297|
|Night Pastors|1,436|605|(400)|-|1,641|
|Warm Space|-|8,000|(8,000)|-|-|
||44,915|93,422|(30,324)|(4,678)|103,335|
|**Previous year:**|**At 1 April 2022**|**Incoming**|**Resources**|**Transfers**|**At 31 March**|
|||**resources**|**expended**||**2023**|
||**£**|**£**|**£**|**£**|**£**|
|Rwanda Orphans|2,362|572|(1,213)|-|1,721|
|Relief Fund|5,034|1,795|(4,787)|-|2,042|
|Guatemala|4,677|-|-|-|4,677|
|Love in Action|180|120|(120)|-|180|
|Precious Bundles|2,915|1,000|(81)|-|3,834|
|Alaka Support|160|200|-|-|360|
|Counselling|(834)|15,515|(10,990)|-|3,691|
|Development Fund|44,876|4,494|(22,396)|-|26,974|
|Night Pastors|-|2,130|(694)|-|1,436|
|Warm Space|-|2,000|(2,000)|-|-|
||59,370|27,826|42,281|-|44,915|
- 26 -
## **KINGSLAND CHURCH COLCHESTER**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2024**_
## **23 Restricted funds**
**(Continued)**
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, project completed and surplus funds transferred to unrestricted fund
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
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 Night pastors - for the establishment of this service provision
Warm space - grant received to provide a warm safe space during the winter
## **24 Unrestricted funds**
The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes. The designated funds represent monies allocated to the purchase and development of the centre at 86 London Road. This property purchase and mortgage has been funded from the investment income from the main tenant and other funds set aside for purpose. We expect the liquid assets in this fund to resource the development works to transform the ground floor from an empty shop to a vibrant community centre.
||**At 1 April 2023**|**At 1 April 2023**|**Incoming**|**Resources**|**Transfers**|**Gains and**|**Gains and**|**At 31 March**|
|---|---|---|---|---|---|---|---|---|
||||**resources**|**expended**|||**losses**|**2024**|
|||**£**|**£**|**£**|**£**||**£**|**£**|
|Tangible assets||-|-|-|1,034,712||-|1,034,712|
|Investment|||||||||
|properties||-|-|-|4,357,794||-|4,357,794|
|Current|||||||||
|liabilities||-|-|-|(54,161)||-|(54,161)|
|Long term|||||||||
|liabilities||-|-|-|(2,358,345)||-|(2,358,345)|
|General funds|2,685,115||1,094,223|(731,262)|(2,975,322)||-|72,754|
||2,685,115||1,094,223|(731,262)|4,678||-|3,052,754|
|**Previous year:**|**At 1 April 2022**||**Incoming**|**Resources**|**Transfers**|**Gains and**||**At 31 March**|
||||**resources**|**expended**|||**losses**|**2023**|
|||**£**|**£**|**£**|**£**||**£**|**£**|
|General funds|2,148,352||1,026,360|(587,391)|-||97,794|2,685,115|
- 27 -
## **KINGSLAND CHURCH COLCHESTER**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 MARCH 2024**_
## **25 Analysis of net assets between funds**
||**Unrestricted**|**Restricted**|**Total**|
|---|---|---|---|
||**funds**|**funds**||
||**2024**|**2024**|**2024**|
||**£**|**£**|**£**|
|**At 31 March 2024:**||||
|Tangible assets|1,034,712|-|1,034,712|
|Investment properties|4,357,794|-|4,357,794|
|Current assets/(liabilities)|18,593|103,335|121,928|
|Long term liabilities|(2,358,345)|-|(2,358,345)|
||3,052,754|103,335|3,156,089|
||**Unrestricted**|**Restricted**|**Total**|
||**funds**|**funds**||
||**2023**|**2023**|**2023**|
||**£**|**£**|**£**|
|**At 31 March 2023:**||||
|Tangible assets|1,064,275|-|1,064,275|
|Investment properties|4,357,794|-|4,357,794|
|Current assets/(liabilities)|(519,224)|44,915|(474,309)|
|Long term liabilities|(2,217,730)|-|(2,217,730)|
||2,685,115|44,915|2,730,030|
- 28 -
## **KINGSLAND CHURCH COLCHESTER**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2024**_
## **26 Related party transactions**
At the balance sheet date one of the trustees, A Courtier, has made a loan of of £10,000 (2023: £10,000) to assist with the purchase of a property.
At the balance sheet date one of the trustees, G Alaka, has made a loan of £5,000 (20223£10,000) to assist with the purchase of a property.
At the balance sheet date Lifepond Ltd, a company in which N Loxley, the company secretary of Kingsland Church, is a director has made a loan of £25,000 (2023: £25,000) to assist with the purchase of a property.
|**27**|**Cash generated from operations**||**2024**|**2023**|
|---|---|---|---|---|
||||**£**|**£**|
||Surplus for the year||426,059|522,308|
||Adjustments for:||||
||Investment income recognised in statement of financial activities||(490,163)|(492,909)|
||Fair value gains and losses on investment properties||-|(97,794)|
||Depreciation and impairment of tangible fixed assets||29,563|29,563|
||Movements in working capital:||||
||(Increase)/decrease in debtors||(1,865)|18,821|
||(Decrease)/increase in creditors||(11,230)|11,668|
||**Cash absorbed by operations**||(47,636)|(8,343)|
|**28**|**Analysis of changes in net (debt)/funds**||||
|||**At 1 April 2023**|**Cash flows At 31 March 2024**||
|||**£**|**£**|**£**|
||Cash at bank and in hand|105,000|208,621|313,621|
||Loans falling due within one year|(476,220)|374,521|(101,699)|
||Loans falling due after more than one year|(2,217,730)|(140,615)|(2,358,345)|
|||(2,588,950)|442,527|(2,146,423)|
- 29 -