**Trustees Annual Report and Financial Statements for the year ended 31 December 2023**
## **Market Street, Mildenhall, Suffolk IP28 7EF**
Registered Charity No: 1130724 www.kcm.church
## **Our Purpose, Governance, Structure and Management**
## **Our Purpose**
The Charity is governed by a Constitution which states that the principal purpose of the charity is the advancement of the Christian faith according to the principles of the Baptist denomination to include the advancement of education, community service and such other general charitable purposes in such parts of the United Kingdom and the world as the Church shall determine.
The Church occupies premises which are held by the Baptist Union Corporation Ltd, on Trusts which are entirely compatible with the above object.
work and witness, and the financial and legal aspects of the charity.
## **Our Structure and Management**
Members of the Church are accepted in accordance with the Constitution which requires them to be or to have been baptised on the profession of faith in Jesus Christ.
The members meeting normally takes place four times per year and has responsibility for the overall policy of the church. All members are encouraged to take an appropriate part in the spiritual and practical tasks involved in the furtherance of the charitable purpose.
## **Our Governance**
King’s Church Mildenhall is governed by Trustees, which in accordance with the Constitution are appointed by the Members of the Church. The Trustees are collectively known as the Leadership, and their meetings are chaired by the Pastor (or the Associate Pastor) of the Church. The Trustees are responsible for the day to day running of the church’s
Relevant matters may be submitted to the Church meeting by the Trustees for guidance, or may be raised by members in Church meeting for further consideration by the Trustees. Though the Constitution permits decisions to be made at Church meetings by appropriate majorities, the Church seeks to work by consensus wherever possible.
## **Our Objectives and Activities**
In order to achieve our principal purpose which is set out above, the Church provides a variety of activities both to its membership and to the community generally. The aim is to show the love of Jesus Christ in both word and deed and to bring people into a closer relationship with Him as living Lord.
Central to the work and witness of the Church is the provision of regular public services of Christian worship. We hold our service each Sunday commencing at 10.30am. There is a full children's programme during the service which includes Sunday Youth Ministry and a Crèche. The church seeks to be a friendly and welcoming community and anybody is free to attend any of our services. Occasionally we also hold a Sunday evening service entitled ‘Oasis’. This is generally a more reflective service with time for quiet worship and prayer.
As ‘Churches Together’ with the Anglican, Methodist and St John’s RC churches in the town we meet once
per month to pray together on Saturday mornings and from time to time hold joint evening services as well as holding an Easter march of witness through the town on Good Friday morning.
The Church runs a series of Connect groups for the growth of faith and discipleship in the homes of some members. Further details of the Connect groups as well as details of all the other activities that are held in the church each week are available to view on the church’s website. Occasionally the Church runs free courses for people interested in discovering more about Christianity entitled "Alpha” and/or
“Christianity Explored” as well as courses for those who are already Christians entitled “Freedom in Christ”.
The Church runs a weekly Youth Café for young people as well as a weekly Toddler Group with the purpose of assisting the community and demonstrating the love of Jesus Christ.
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## **Our Objectives and Activities (continued)**
On Wednesdays we run a Lunch Club with the aim of encouraging people in the town to meet and to enjoy lunch and enjoy activities together, including trips out. Our aim is to reach older lonely people, although the lunch club is open to all.
A coffee morning is held every Friday during market day when the church is open for the public to come in and have tea, biscuits and a chat.
‘King’s Project’ is a shop in the town that we open on Monday and Friday mornings from 10am to 12 noon. This is a community support facility that provides a
free emergency foodbank (food only available using a voucher scheme).
From the same building upstairs called ‘King’s House’ we run a Pastoral care team (drop in and also by appointment) and access to CMA Connect @ King’s. CMA Connect @ King’s offers confidential, impartial free money advice and debt help to the local community in Mildenhall and the surrounding area. CMA @ King’s is run in partnership with Community Money Advice.
## **Our Achievements and Performance**
## **During 2023 the highlights included:**
- Our community outreach foodbank continues to help many people in the area and last year gave out a total of 904 food parcels supporting just over 1,800 individuals. This equates to an average of 75 food parcels for 150 individuals per month.
- During the May bank holiday weekend many from the church attended our church weekend away at Sizewell Hall on the Suffolk coast. This was a time for relaxing together, eating together, getting to know each other better, worshipping God together and hearing from our guest speaker, Craig Millward from the Northumbrian Collective.
- For the fourth year in succession we supported a ‘Pulse’ youth mission with Newmarket Youth for Christ with special guest J Vessel, a Christian hip-hop/rapper. Classes were held at Littleport & East Cambs Academy and a concert was held at the Vine Community Church in Littleport. The concert was well attended and towards the end of the concert about thirty young people responded to make a commitment to Jesus Christ.
- Our ‘Doorway’ group restarted during the year, after closing a few years ago. This group gives parents an opportunity to meet and chat about the highs and lows of
raising children and to be introduced to new ideas so that individuals leave sessions feeling supported.
## **Our main challenge for 2024 and beyond**
We are seeking God for ways to develop our current and future ministries within the church and in the community, whilst also continuing to look at any opportunities that may arise to move to larger premises within the locality.
## **Public benefit:**
Having regard to the Charity Commission’s guidance on public benefit, all of our activities are freely open to anyone that would like to attend. We provide a benefit to the public through:
- The provision of worship services and church buildings.
- Provision of a Food Bank, Pastoral care and debt help to the community.
- Contributing to the spiritual and moral education of children and young people (preschool, pre-teen and teen).
- Providing comfort to the bereaved and less able.
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## **Our Risk Assessment, Child Protection and Vulnerable Adults Policies**
The Trustees have assessed the major risks facing the church and are satisfied that there are policies in place to minimise these risks in conjunction with our Health & Safety Policy. The Church operates
systems to ensure that all people working with children and adults at risk are appropriately vetted with regard to the Disclosure and Barring Service (DBS) and have appropriate Safeguarding training.
## **Our Finances**
## **Financial Review**
The Church continues to raise all the funds which it needs to carry on its activities from within its own membership and congregation. No wider public appeal was made for funds during the year.
The Church had a surplus for the year of £27,825 (2022 surplus of £2,463). Our surplus was mainly driven by higher income from freewill offerings and bank interest received. We have however also seen an increase in some of our costs, notably energy costs.
The Church expressed its part in the life of the wider church by making regular donations to national and international Christian organisations and societies with Christian aims and objectives compatible with the church's own charitable purpose. During 2023 the Church donated 12% of its annual offerings to other charities (2022 13%).
The Church is heavily dependent on its membership working as volunteers in all aspects of the church's activities, many of which run with little or no impact on the church's expenditure, but nevertheless contribute substantially to the achievement of the church's objectives. Indeed, the Church could not operate without these volunteers.
The financial results for the year, together with a summary of the accounting policies adopted are set out in the accompanying financial statements.
## **Reserves Policy**
The Trustees have established a Reserves Policy, and are satisfied that they have sufficient reserves at the Statement of Financial Position date, together with on-going income anticipated, to enable the church to function effectively in the coming year.
## **Trustees Responsibilities**
The Trustees are responsible for preparing the Trustees' Report and the accounts in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). The law applicable to charities in England and Wales requires the trustees to prepare accounts for each financial year which give a true and fair view of the state of affairs of the church and of the incoming resources and application of resources of the church for that year. In preparing these accounts, 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 accounting standards have been followed, subject to any material departures disclosed and explained in the accounts; and
- prepare the accounts on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The trustees are responsible for keeping sufficient accounting records that disclose with reasonable accuracy at any time the financial position of the Church and enable them to ensure that the accounts comply with the Charities Act 2011, the applicable Charity (Accounts and Reports) Regulations and the provisions of the trust deed. 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.
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**Statement of Financial Activities**
## **for the year ended 31 December 2023**
|**Note**
**Income and endowments from**
Donations and legacies
2
Income from investments
3
Total income and endowments
**Expenditure on**
Raising funds
Charitable activities
4
Other expenditure
**Total Resources Expended**
**Net income (expenditure)**
**Transfers between funds**
**Net movement in Funds**
**Total Funds brought forward**
**Total Funds carried forward**|**Unrestricted Funds**
**Total**
**General**
**Designated**
**2023**
**£**
**£**
**£**
136,901
13,296
150,197
31,177
-
31,177
168,078
13,296
181,374
91
-
91
140,162
13,296
153,458
-
-
-
140,253
13,296
153,549
27,825
-
27,825
-
-
-
27,825
-
27,825
226,007
-
226,007
253,832
-
253,832|**Total**
**2022**
**£**
115,520
24,630|
|---|---|---|
|||140,150
-
137,687
-|
|||137,687
2,463
-
2,463
223,544|
|||226,007|
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## **Statement of Financial Position**
## **as at 31 December 2023**
|**Note**
**Tangible Fixed Assets**
5
**Current Assets**
Bank and cash balances
6
**Current Liabilities**
Creditors: amounts falling due
within one year
7
**Net Current Assets**
Creditors: amounts falling due
after more than one year
8
**Net Assets**
**Charitable Funds**
Unrestricted General Funds
Revaluation Reserve
9|**2023**
**£**
**£**
2,546,446
253,832
-
253,832
-
2,800,278
253,832
2,546,446
2,800,278|**2022**
**£**
**£**
2,413,280
226,007
-
226,007
-
2,639,287
226,007
2,413,280
2,639,287|**2022**
**£**
**£**
2,413,280
226,007
-
226,007
-
2,639,287
226,007
2,413,280
2,639,287|
|---|---|---|---|
|||||
||||2,639,287|
||||226,007
2,413,280|
||||2,639,287|
The Annual Report and Financial Statements for the year ended 31 December 2023 were approved by the Trustees on 14 February 2024 and signed on their behalf by
Mr G Matthews (Treasurer)
The Notes on pages 7 to 12 form part of these Financial Statements.
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## **Notes to the Accounts**
## **1 Accounting Policies**
## **a Basis of preparation**
The financial statements are prepared under the historical cost convention and in accordance with the Statement of Recommended Practice ‘Accounting and Reporting by Charities’ (FRS 102) and the Charities Act 2011.
## **b Fund Accounting**
Unrestricted funds are available for use at the discretion of the church in furtherance of its charitable objectives.
## **c Donations**
- Donations are accounted for gross when received or certain it will be received.
## **d Legacies**
- Legacies are accounted for when their receipt is certain and can be properly quantified.
## **e Investment income**
- Investment income is included in the accounts in the year in which it is receivable.
## **f Fund raising and publicity costs**
The church does not make formal appeals for funds, and expenditure on these items is therefore not material.
## **g Grants payable**
The church makes grants to other organisations whose charitable objects complement its work. They are accounted for in the year in which they are paid.
## **h Grants receivable**
The church receives grants from other organisations. They are accounted for in the year in which they are received.
## **i Fixed Assets**
Land and buildings are included in the Statement of Financial Position at insurance value because reliable cost information is not available, and valuation would incur significant costs which would be onerous compared with the additional benefit gained by for the user of the accounts.
All other fixed assets are written off to the Statement of Financial Activities in the year of expenditure and no items are depreciated.
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## **Notes to the Accounts (continued)**
|**2**
**Donations and legacies**
Foodbank donations
Gift Aid Tax refunds
Vision Fund
Youth Café Grant
Church Weekend Receipts
Offerings
Other gifts/income received
**3**
**Income from investments**
Bank interest
Baptist Union Deposit interest
Property rental income
**4**
**Expenditure on Charitable activities**
Ministry
Church premises expenses
4 King Street expenses
Manse expenses
Grants payable to other charities
General church administration
Other expenses
Activities of church groups
**5**
**Tangible fixed assets**
**Valuation**
At 1 January 2023
Revaluation
At 31 December 2023|**Unrestricted Funds**
**Total**
**General Designated**
**2023**
**£**
**£**
**£**
-
6,740
6,740
11,888
-
11,888
1,700
-
1,700
-
-
-
-
4,269
4,269
122,403
-
122,403
910
2,287
3,197|**Total**
**2022**
**£**
3,873
10,816
-
900
-
98,428
1,503|
|---|---|---|
||136,901
13,296
150,197
239
-
239
8,748
-
8,748
22,190
-
22,190
31,177
-
31,177
66,864
-
66,864
16,427
-
16,427
5,428
6,740
12,168
24,443
-
24,443
12,602
2,287
14,889
9,157
-
9,157
4,705
4,269
8,974
536
-
536
140,162
13,296
153,458
**Church**
**4 King Street**
**Building**
**Manse**
**Building**
**& Contents**
**Building**
**& Contents**
1,779,487
232,600
401,193
85,413
36,284
11,469
1,864,900
268,884
412,662|115,520
8
3,632
20,990|
|||24,630
67,370
11,136
9,269
23,200
12,753
6,448
6,130
1,381|
|||137,687
**Total**
2,413,280
133,166|
|||2,546,446|
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## **Notes to the Accounts (continued)**
|**2023**
**6**
**Bank balances**
**Unrestricted funds**
Lloyds Current account
5,326
Lloyds Deposit account
34,525
Baptist Union Deposit account
213,981
253,832
**7**
**Current liabilities: Amounts falling due within 1 year**
-
**8**
**Current liabilities: Amounts falling due after more than 1 year**
-
**9**
**Revaluation reserve**
At 1 January 2023
2,413,280
Revaluation
133,166
At 31 December 2023
2,546,446
**10**
**Pension reserve**
At 1 January 2023
-
Revaluation
-
At 31 December 2023
-
**11**
**Staff costs and Trustees expenses**
Wages & Salaries
67,368
Social security costs
309
Pension costs
7,702
Other costs
5,372
80,751
The average number of employees during the year was 5 (2022 5).
No employee received emoluments in excess of £60,000 during the year (2022 none).|**2022**
4,487
16,286
205,234|
|---|---|
||226,007
-
-
2,141,058
272,222|
||2,413,280
38,300
(38,300)|
||-
62,885
930
11,892
4,332|
||80,039|
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**Notes to the Accounts (continued)**
## **13 Staff costs and Trustees expenses (continued)**
Two Trustees, who are also employees, lived in housing on a leaseback agreement with the church.
No sums were reimbursed to the Trustees for their work as Trustees (2022 none).
## **14 Related Charities**
The custodian Trustee of the church is the Baptist Union Corporation Limited which is charity number 249635, and which is controlled by the Baptist Union Council. The church is also a member of the Baptist Union of Great Britain, and the Eastern Baptist Association.
## **15 Pensions**
On 30th June 2022 the Baptist Pension Scheme signed an agreement with the insurance company Just Group (“Just”) to secure DB Plan members’ pension benefits. Just are now providing financial backing for all pensions provided through the Scheme’s DB Plan and following this transaction, the Scheme no longer has a shortfall. An updated Recovery plan was then signed in August 2022 under which recovery contributions from each participating employer in the DB Plan reduced to £1 per month from August 2022.
## **16 Trustee and related party donations**
Aggregate donations, excluding Gift Aid tax refund, of £25,003 were received by the charity from Trustees and their spouses (2022 - £24,682).
## **17 Summaries of accounts of other church organisations**
|Balance 1 January 2023
Receipts
Payments
Balance 31 December 2023|**Coffee Communion**
**Lunch**
**Morning**
**Fund**
**Club**
820
248
1,639
138
457
7,175
(129)
(200)
(7,273)|
|---|---|
||829
505
1,541|
These accounts are not administered by the Church Treasurer and not examined by the Independent Examiner.
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## **Independent Examiner’s Report to the Trustees and Members of King’s Church Mildenhall**
I report on the Financial Statements of King’s Church Mildenhall for the year ended 31 December 2023 which are set out on pages 5 to 9.
## **Respective responsibilities**
The church is responsible for the preparation of the financial accounts and considers that the audit requirement of Section 144(2) of the Charities Act 2011 (the Act) does not apply. It is my responsibility to state, on the basis of procedures specified in the General Directions given by the Charity Commissioners under Section 145 (5)(b) of the Act, whether particular matters have come to my attention.
## **Basis of Independent Examiner's report**
My examination was carried out in accordance with the General Directions of the Charity Commissioners. An examination includes a review of the accounting records kept by the church and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the financial statements, and seeking explanations concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently I do not express an audit opinion on the view given by the financial statements.
## **Independent Examiner's statement**
In connection with my examination of the church funds, nothing came to my attention which gave me cause to believe otherwise than that the financial statements accord with the accounting records of the church, and that those records satisfied the requirements of the Act. I am not aware of any matter to which attention should be drawn in order to enable a proper understanding of the financial statements to be reached.
Mrs S Smyth 29 February 2024
## **Reference and Administrative Details**
## **Charity name**
King’s Church Mildenhall
## **Charity number**
1130724
## **Registered office**
King’s Church Mildenhall Market Street, Mildenhall Suffolk IP28 7EF
## **Trustees**
Rev T Bright (Associate Pastor) Mr D Chambers Rev P Finnis (Lay Pastor) Mrs S Giddings Mr M Green Mr T James Mr G Matthews (Treasurer) Rev C Morehouse (Pastor) Mrs A Quin Mr G Slack
## **Property Trustees**
The Baptist Union Corporation Ltd Baptist House, 129 Broadway Didcot, Oxfordshire OX11 8RT
## **Independent examiner**
Mrs S Smyth
## **Bankers**
Lloyds Bank plc 48 High Street, Newmarket, CB8 8LF
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