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2020-12-31-accounts

KINGS ROAD UNITED REFORMED CHURCH

TRUSTEES REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31st DECEMBER 2020

CONTENTS

CONTENTS
Page
Report of the Trustees 1 - 4
Independent examiner's report 5
Statement of financial activities 6
Balance sheet 7
Notes to the financial statements 8 - 14

KINGS ROAD UNITED REFORMED CHURCH

1

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31st DECEMBER 2020

ADMINISTRATIVE INFORMATION

Kings Road United Reformed Church is a local church of the United Reformed Church in Great Britain, and is a member church of the Eastern Synod of the United Reformed Church. It was registered on 26th August 2009 as Charity Number 1131367.

Kings Road United Reformed Church is situated at 91, Crowstone Road, Westcliff-on-Sea, Essex. SS0 8LH. Telephone : 01702 352668 www.KingsRoadURC.org.uk

The members of the Elders' Meeting for the time being are recognised as the charity trustees. Those who served from 1st January 2020 until the date this report was approved were:

Andrew Birch (Reverend) (Chair - From 1st September 2020) Geoff Wright (Reverend) (Chair - Up to 31st August 2020) John Knight Kay Bell Lauren Rule Les Denton Lou Raggett Lynn Inglis Maggie Wright Pam Skeet Rebecca Raggett Vicky Barnes

The Church buildings are vested in 'The United Reformed Church (Eastern Province) Trust' as trustee and held for the benefit of Kings Road United Reformed Church in accordance with the trusts applicable to United Reformed Church properties.

STRUCTURE, GOVERNANCE AND MANAGEMENT

The activities of Kings Road United Reformed Church are overseen by the Elders Meeting of the Church in accordance with the provisions of The Structure of the United Reformed Church determined by the General Assembly of the United Reformed Church, and supplemented by the rules of Kings Road United Reformed Church. The governing document of the registered charity is a statement adopted by the Church Meeting on 3rd May 2009 and renewed on 11th February 2018 after the merger of Crowstone St. George's United Reformed Church with Westcliff United Reformed Church on 22nd Octoner 2017.

The Elders' Meeting is responsible for the financial administration of the Church and the care and maintenance of Church premises. The Church Meeting (of all members wishing to attend) gives general guidance on the life and work of the Church. While the Church Meeting would usually meet four times a year during the past year it met only once as a result of the Covid-19 pandemic.

The members of the Elders' Meeting are the ministers in pastoral charge and up to twelve members of Kings Road United Reformed Church nominated and elected by the members of the Church in Church Meeting. Elders serve for four years, retire by rotation and are eligible for re-election. After two periods of consecutive service Elders will normally be expected to stand down for a two year period. The members of the Elders' Meeting are the trustees of the registered charity during their period of service as Elders.

The Elders' Meeting met twelve times during the year. It is assisted in the administration of the Church and its property by the Business Committee. We also have more informal groups, including Outreach and Fundraising and Pastoral Care.

The Business Committee oversees the financal management of the church and is responsible for maintaining the fabric of the Church.

KINGS ROAD UNITED REFORMED CHURCH

2

REPORT OF THE TRUSTEES - Continued

OBJECTIVES AND ACTIVITIES

As a local congregation of the United Reformed Church, Kings Road United Reformed Church seeks to advance the Christian religion through its activities and the facilities offered to the community by its building. Our mission statement sets these objectives out more specifically as:-

The Elders' Meeting is aware of the Charity Commission's guidance on public benefit in 'The Advancement of Religion for the Public Benefit' and has regard to it in the administration of the Church.

The Elders' Meeting believes that the Church provides benefit to the public by:

(a) providing resources and facilities for public worship, pastoral care and spiritual, moral and intellectual development, both for the congregation and for anyone else who wishes to benefit from what the Church offers;

(b) promoting Christian values and service by members of the congregation to the community, for the benefit of individuals and society as a whole.

REVIEW OF ACTIVITIES AND ACHIEVEMENTS

2020 was the third year of operation in the identity of Kings Road United Reformed Church following the merger of the two congregations in 2017. The new identity is fully grounded within the congregation itself and in the wider communities that we serve.

2020 has been a particularly challenging year for our congregation. As was mentioned in last year’s statement, the Covid19 Pandemic has meant that the church building has been closed under Government guidelines for the majority of the past 12 months, meaning that worship and most activities undertaken within the premises have been curtailed or cancelled.

This has been a period of learning and developing of skills for all of the congregation. Worship for a long period was through podcasts recorded by our Minister, Revd. Geoff Wright, and made available on-line for Sunday Worship with the words circulated in our weekly email and printed and delivered to those members without access to social media. Our worship leaders contributed admirably to this provision by writing services to be recorded. The final Sunday worship podcast was delivered by our soon to be inducted Stipendiary Minister, Revd. Andrew Birch.

Revd. Andrew arrived and was inducted during the period when lockdown was eased after the summer of 2020, when we were able to return to face-to-face worship albeit with a smaller congregation, face masks and no singing allowed. These services were streamed to the church’s YouTube channel, Kings Road URC TV, where they could be watched ‘live’ or accessed as a recording later in the week.

When the next lockdown period was mooted, just before Christmas, worship moved to being recorded on Zoom, either in the church premises or at the worship leader’s home, and then edited before being produced for viewing on You Tube.

For many of the congregation extensive periods of lockdown have been a major challenge as they have been at home alone because of social distancing and, in some cases, isolating. The Elders were very aware of the effects of loneliness and isolation on members and have, during this whole period, worked hard to ensure that contact was being made, regularly, with our members through the pastoral care arrangements within the congregation. We were made aware of some members who were not being contacted and took immediate steps to resolve the situation.

When limited socialisation was allowed outdoors a Monday morning meeting took place in a local park which was very much appreciated by those who could attend. During the second period of lockdown a member has kept this social contact in place by running a regular Monday morning meeting on Zoom which has attracted a good number of attendees.

KINGS ROAD UNITED REFORMED CHURCH

3

REPORT OF THE TRUSTEES - Continued

REVIEW OF ACTIVITIES AND ACHIEVEMENTS - Continued

The Elders, as required by Government and Church House guidance, arranged for a Risk Assessment for re-opening the building to be carried out in the summer of 2020. From this they have developed cleaning and sanitising plans and rotas to make sure that the building would be adequately prepared for worship on Sundays. The plans were drawn up for each area of the building and will form the basis of any agreements made when it can be opened up again to users.

Our activities have been severely curtailed throughout the year and maintaining a Covid-19 Secure status has meant that we were unable to offer accommodation to our regular groups during the brief period of lockdown easing.

Our Scout groups have moved to meeting outdoors when permitted and have continued to meet online with a considerable amount of work being done by the leaders to bring this about and maintain contact with members and their families.

We have mourned the loss of a number of members this year, although none have succumbed to Covid. Funeral services have been limited to 30 mourners at the Crematorium but have been made available to members of the congregation online. We anticipate that we will hold services of Thanksgiving for them when the church building is reopened without the need for social distancing sometime in 2021.

We are delighted that our on-line presence has been effective both for our existing members and three people/families who have discovered us through Kings Road TV on YouTube and expressed an interest in the congregation and the work that it does.

Our prayer group has become an email hub with prayer requests received and then circulated weekly by the co-ordinator.

Viewpont, our bi-monthly magazine, continues to be edited and produced for the information of members and others both within the congregation and outside. It is uploaded, when available, to our email platform, Mail Chimp, and is available through a link provided in the weekly emails to 111 recipients. It is also printed and made available to those members who do not have access to email.

The Congregation, Elders and Ministers eagerly anticipate the gradual reduction in Covid-19 limitations and our ability meet face-to-face during 2021 supported by our developing skills in on-line worship to support it.

Our Leadership Plan sets out: Direction (Aims and Ethos)

FINANCIAL REVIEW

Like the majority of organisations across the country this year, the church's finances have been severly affected by the Covid-19 pandemic and the Government's response to it by way of both restrictions on people meeting and financial support. The church ceased to operate normally on 18th March 2020 when it initially closed and it is unlikely to be back in a similar position for some time yet. Most noticeable was the immediate loss of lettings income but income from fundraising, activities and donations has also been significantly reduced by the inability to hold events as normal.

On 18th March the church placed all its employees on 'furlough' at full pay and took advantage of the Government's Coronavirus Job Retention Scheme which offered to meet the majority of the cost. During the Summer however, with little prospect of activities resuming and the scheme due to end the decision was made, reluctantly, to make all the church's employees redundant. During the period that staff were 'furloughed' the church received £9,271 in Government support.

Income during the year was down £36,633. Largest changes in regular income were Church Lettings, down £22,482; Fundrairing down £3,909 and Offerings and donations down £3,049. While Covid-19 grant income of £9,271 was received in 2020, 2019 included a repair grant of £10,059 and Legacy income of £4,000. The church has not been eligible for any other Government or Local Authority financial support during the pandemic.

KINGS ROAD UNrrED REFORMED CHURCH FINANCIAL sfATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020 Independent Examiner's Report to the members of Kings Road United Refornied Church I rekKJrt to the memters on my e￿￿1ftatIon of the financial statements of KirMJS Road United Refomied Church ('the chariv) for the year ended 31 December 2020. This rem)rt15 made solety to the charity's trustees, as a bcth, In accordan￿ wlth section 145 of the Charities Act 2011. My work has bn undertaken so that I might stste to the charitys trust￿ those matters E am required to state to them in thls report ar￿ for no other pun)ose. To the fullest extent perniitted by law, I do not accept or assume reswnsibillty to anyone other than the charty the charity's trustees as a ly, for my work, for this or for ￿ opinvjns I have foTm&J. Responslbllltles and basls of report As the trustees of the charity you are responsible for the preparation of the ￿COUnts in ￿t0[danTr with the requirements of the CharitÈe5 Att 2011 ('the Ad). I report in ￿$pert of my examination cl the charity's accounts carried out under sectlon 145 of the Att arKI in carrying out my examinatton I have follow￿1 all the applicable Diwbons given by the Charity Commission under s&knon 145(5)(b) of the Act. An independent examinatlon does not Involve gathering all the eVIden￿ that would required in an audit and consequendy not cover all the matters that an auditor considers in giving their opinion on the accounts. The planning and condurt of an audit twnd the Ilmited assuran￿ that an independent examinatton can provlde. Consequently I express no audit opinlon on the accounts and my re￿rt is limited to those Specif￿ matters set out in the examiner's statement. Independent examlnerfs statement I have Complet￿ my examination. I confimi that no materval matters have come to my attention in COnnec￿n with the examination gNing me cau* to believe that in any material respett: countiThJ records were not kept in respect of the charity as requir￿1 by seLtion 130 of the Act; or 2. the accounts do not accord wlth those rerords; or 3. the financial statements do not comply wlth the applicable requirements cOn￿ming the fomi and content of accounts Set out in the Charities (Accounts and RepJrts) Regulations 2008 other than any requirement that the accounts 9bve a true aml falrf view which Is not a matter consKlered as part of an independent examirtation. I have rK) cOn￿m$ and have come across no other matters In connectlon wth the examinati(Jn to which attention should kE drawn in this rep)rt in order to enable a prow understanding of the accourts to be reached. Signed by the Independent ExamirEr'. Date: 2810312021 Prlsdlla Asirifi ACMA 8 Sandown Street Manchester M18 8SA

KINGS ROAD UNITED REFORMED CHURCH

6

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2020

Unrestricted Funds Unrestricted Funds Restricted TOTAL TOTAL
General Designated Funds 2020 2019
Note £ £ £ £ £
INCOMING RESOURCES
Income from:
Donations and legacies 2 59,582 2,330 2,726 64,638 71,407
Charitable activities 3 471 -- -- 471 12,025
Other trading activities 4 12,599 515 -- 13,114 39,948
Investments 5 12,098 -- -- 12,098 12,595
Other 6 9,271 -- -- 9,271 --
Total 94,021 2,845 2,726 99,592 135,975
RESOURCES EXPENDED
Expenditure on:
Raising funds 7 728 157 -- 885 2,000
Charitable activities:
Ministry & Mission 8 44,217 357 -- 44,574 44,856
Church activities 9 7,079 890 -- 7,969 7,283
Church running costs 10 33,887 21,276 -- 55,163 77,233
Support of outside causes 11 1,200 -- 2,837 4,037 5,292
Total 87,111 22,680 2,837 112,628 136,664
Net gain/(loss) on investment 15 2,135 2,847 -- 4,982 12,200
Net income/(expenditure) before transfers 9,045 -16,988 -111 -8,054 11,511
Transfers between funds 17.1 -15,784 15,784 -- 0 0
Net movement in funds -6,739 -1,204 -111 -8,054 11,511
Total funds b/fwd 1 January 2020 72,413 71,140 401 143,954 132,443
Total funds c/fwd 31 December 2020 £ 65,674 £ 69,936 £ 290 £ 135,900 £ 143,954
(Note 17) (Note 18)

The notes on pages 8 to 14 form part of these financial statements

UnrestrictedFunds UnrestrictedFunds Restricted TOTAL TOTAL
Note GeneralDesignated
EE		 Funds
E		 2020
E		 2019
E
FIXEDASSETS
Tangibleassets 74 37
CURRENT ASSETS
Debtors
Gift AidTaxrecoverable 8,200 8,200 7.500
Accrued income 1,470 1,470 2,563
HallFees
Prepayments
TotalDebtors		 36s
6,597
-mFz		 365
6,597
@@		 10,391

6,257
Investments
COIFCharities EthicalInvestmentFund		 15 -0''
35,91047,881		 -' 83,791 78,809
Bank and cash balances
COIFCharities DepositFund
Bankcurrentaccounts
Totalbank and cashbalances
TotalCurrentAssets		 16 9,A24
6,599
-i5^6-F		 72,033
10,322
w		 2L,057
1,256L8,L77
BW
mw		 30,983
12,764
ww
CURRENTLIABILITIES
Accrued expenses 2,o21 300 2,327 3,902
Incomereceivedinadvance 90 90
Creditors payablewithinone year 380
2,497		 300
966
966		 t,346
3,757		 B4B
4,750
NET CURRENT ASSETS @ @36 _i3#00 743,9L7
TOTALNET ASSETS E- Ffr -
t-r,936E--zEAr-T3sp'm'E
THEFUNDSOFTHE CHARITY
Unrestricted income funds:
General 65,674 65,674 72,413
Designated
Total		 77 69,936 69,936
-ifi0'		 77,744
@
Restricted income funds: 18 290
290
401
Eres7TE-s;g-I5','E-$AE-rS;900-EB,W

8

KINGS ROAD UNITED REFORMED CHURCH

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

1 ACCOUNTING POLICIES

1.1 Basis of Accounting

The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011 and UK Generally Accepted Practice as it applies from 1 January 2015

The financial statements have been prepared to give a ‘true and fair’ view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a ‘true and fair view’. This departure has involved following Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.

The charity constitutes a public benefit entity as defined by FRS 102.

1.2 Income recognition

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.

Donated services are accounted for in the period to which they relate provided the value of the gift can be measured reliably.

1.3 Expenditure and Liabilities

Liabilities are recognised where it is more likely than not that there is a legal or constructive obligation committing the charity to pay out resources and the amount of the obligation can be measured with reasonable certainty.

Expenditure is recognised in the period to which it relates and includes attributable VAT which cannot be recovered. Most of the management and activity of the church is carried out by volunteers. This intangible cost is not included in the financial statements as this voluntary contribution to the life of the church is incalculable.

1.4 Fund Accounting

Unrestricted funds are available for use at the discretion of the church in furtherance of its charitable objectives. Designated funds are funds established by the church for particular purposes as set out at note 18. The designation is a statement of intent and does not prevent the church from using these funds for other purposes if circumstances change. Restricted funds are subjected to restrictions on their expenditure imposed by the donor, or contained in the terms of the grant.

1.5 Tangible Fixed Assets

Freehold property: The Trustees of the church are the United Reformed Church (Eastern Province) Trust who hold buildings and land upon trust for purposes connected with Kings Road United Reformed Church. Expenditure incurred on the churches is written off in the year it is incurred.

Equipment: Equipment is stated at cost less depreciation. Depreciation is provided at the following annual rate calculated to write off the cost of assets over their estimated useful lives:

Photocopier and Sound and Audio/Visual equipment 25% straight line (over 4 years)

1.6 Taxation

As a registered charity the church is exempt from taxation in respect of income and capital gains received to the extent that such income or gains are applied to exclusively charitable purposes. No provision for taxation has been made in these financial statements.

1.7 Investments

Investments are initially recorded at cost but subsequently revalued at 'fair value'. Any increase or decrease in value is shown in the Statement of Financial Activities.

1.8 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

KINGS ROAD UNITED REFORMED CHURCH

9

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

Unrestricted Funds Unrestricted Funds Restricted TOTAL TOTAL
General Designated Funds 2020 2019
£ £ £ £ £
2 DONATIONS AND LEGACIES
General Giving 39,459 -- -- 39,459 40,599
Gift Day 7,240 -- -- 7,240 2,476
Income tax refunds under Gift Aid 11,767 940 -- 12,707 11,488
Special offerings and donations -- 1,360 2,726 4,086 10,493
Other donations 1,116 -- -- 1,116 2,351
Legacies -- 30 -- 30 4,000
£ 59,582 £ 2,330 £ 2,726 £ 64,638 £ 71,407
3 CHARITABLE ACTIVITIES
Grants for repairs to the roof -- -- -- 0 10,059
Wedding, baptism fees & collections -- -- -- 0 400
Parent & Toddler, Childrens & Youth activities 471 -- -- 471 1,566
£ 471 £ 0 £ -- £ 471 £ 12,025
4 OTHER TRADING ACTIVITIES
Church lettings 10,018 -- -- 10,018 32,500
Fund raising events 1,898 515 -- 2,413 6,322
Photocopier income 683 -- -- 683 1,126
£ 12,599 £ 515 £ -- £ 13,114 £ 39,948
5 INVESTMENTS
Interest 92 -- -- 92 245
Investment Fund Dividends 2,499 -- -- 2,499 2,444
Rent : 40 Kenilworth Gardens 5,840 -- -- 5,840 5,640
Rent : Tennis Club 2,000 -- -- 2,000 2,000
Solar panel income 1,667 -- -- 1,667 2,266
£ 12,098 £ -- £ -- £ 12,098 £ 12,595

The church receives 50% of the net rental income arising from the letting of the manse at 40 Kenilworth Gardens pending a decision on the future use of the building.

6 OTHER
HMRC Coronavirus Job Retention Scheme Grant £ 9,271 £ -- £ -- £ -- £ --
7 RAISING FUNDS
Kitchen / coffee bar supplies -- 121 -- 121 403
40 Kenilworth Gardens : Maintenance -- 36 -- 36 894
40 Kenilworth Gardens : Insurance 182 -- -- 182 175
40 Kenilworth Gardens : Letting fees 526 -- -- 526 508
Other 20 -- -- 20 20
£ 728 £ 157 £ -- £ 885 £ 2,000

KINGS ROAD UNITED REFORMED CHURCH

10

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

Unrestricted Funds Unrestricted Funds Restricted TOTAL TOTAL
General Designated Funds 2020 2019
£ £ £ £ £
8 MINISTRY & MISSION
URC Ministry & Mission Fund (See below) 38,000 -- -- 38,000 42,000
Manse expenses 1,401 -- -- 1,401 --
Manse maintenance -- 357 -- 357 --
Ministers car expenses 569 -- -- 569 --
Ministers expenses 3,052 -- -- 3,052 1,473
Worship & resources 1,037 -- -- 1,037 1,383
Other costs 158 -- -- 158 --
£ 44,217 £ 357 £ -- £ 44,574 £ 44,856

URC MINISTRY & MISSION FUND

The church contributes to the central United Reformed Church costs of training and providing ministers (including the centralised payment of stipends, pension contributions and othere benefits for ministers), running the denomination, and the wider mission of the national church. This annual budget is in excess of £19 million, approximately 80% of which relates to stipends and related costs of ministers working in local settings.

9 CHURCH ACTIVITIES
Flowers -- -- -- -- 285
Organ & Piano tuning -- 890 -- 890 1,118
Other costs 243 -- -- 243 271
Parent & Toddler, Children and Youth leaders 6,836 -- -- 6,836 5,227
Publicity -- -- -- -- 92
Training -- -- -- -- 290
£ 7,079 £ 890 £ -- £ 7,969 £ 7,283
10 CHURCH RUNNING COSTS
Bank charges 62 -- -- 62 72
Buildings maintenance -- 8,253 -- 8,253 1,978
Centre Administrator 4,545 -- -- 4,545 7,299
Cleaner / Caretaker 9,545 -- -- 9,545 8,693
Cleaning materials & refuse collection 1,729 -- -- 1,729 1,918
Depreciation of sound & visual equipment 37 -- -- 37 499
Gardening -- 318 -- 318 402
Gas, electric & water 6,213 -- -- 6,213 8,312
Independent Examiner 200 -- -- 200 --
Insurance 8,364 -- -- 8,364 7,895
Office I.T. / Internet connection 597 -- -- 597 420
Other costs 593 -- -- 593 167
Photocopier charges 1,446 -- -- 1,446 1,959
Printing, postage and stationery 206 -- -- 206 496
Trf. stained glass from Westcliff URC (Light boxes & entrance) -- 11,435 -- 11,435 1,000
Repairs to the roof (Roof Fund) -- -- -- -- 32,747
Servicing & maintenance of equipment -- 1,270 -- 1,270 3,030
Telephones 350 -- -- 350 346
£ 33,887 £ 21,276 £ -- £ 55,163 £ 77,233

KINGS ROAD UNITED REFORMED CHURCH

11

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

Unrestricted Funds Unrestricted Funds Restricted TOTAL TOTAL
General Designated Funds 2020 2019
£ £ £ £ £
11 SUPPORT OF OUTSIDE CAUSES
Homeless Action Resource Project (H.A.R.P.) 1,200 -- -- 1,200 1,200
Communion Fund (see Note 18) -- -- 533 533 1,043
Commitment for Life -- -- 825 825 825
Other restricted gifts passed on (see below) -- -- 1,479 1,479 2,224
£ 1,200 £ -- £ 2,837 £ 4,037 £ 5,292
11.1 Other restricted gifts passed on:-
General :-
Children's Society (inc. Christingle services) -- 103
Christian Aid 485 957
Citizens Advice Bureau -- 64
One Love Soup Kitchen (Harvest collection) 127 --
HARP (Harvest collection) 123 --
Royal British Legion Poppy Appeal 44 --
£ 779 £ 1,124
Prayer Group :-
British Honduras Trust for Children -- 100
Children of Honduras Trust 100 --
Christian Aid -- 200
Crisis at Christmas 100 115
Defibrillator (Kings Rd) -- 135
Disasters Emergency Committee appeal for Syria 100 --
Embrace the Middle East -- 200
Embrace the Middle East - Syrian Appeal -- 100
Medecins sans Frontieres 100 --
Red Nose Day 100 --
St. Vincent de Paul 100 --
Teenage Cancer Trust 100 250
£ 700 £ 1,100
Total 'Other restricted gifts passed on' £ 1,479 £ 2,224
12 PAID EMPLOYEES
Salaries and wages (inclusive of redundancy pay of £3,647, 2019 : £Nil) £ 20,925 £ 21,219
Average head count in the year 4 5

13 TRANSACTIONS WITH TRUSTEES AND RELATED PARTIES

13.1 Trustee renumeration and benefits None of the trustees have been paid any renumeration or received any other benefits from an employment with the church.

13.2 Trustees' expenses
Preaching fees 870 1,000
Removal costs 2,122 --
Mileage 27 42
Books / subscriptions 176 469
Sundry 99 56
£ 3,294 £ 1,567

KINGS ROAD UNITED REFORMED CHURCH

12

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

Sound &
14
TANGIBLE FIXED ASSETS
Visual
Equipment
Cost
Balance b/fwd 1st January & c/fwd 31st December
1,997
Depreciation
Balance b/fwd 1 January
1,960
Depreciation for year
37
Balance c/fwd 31 December
1,997
Net book value
0		 Photo-
copier
£
3,540
3,540
--
3,540
0		 2020
£
5,537
5,500
37
5,537
0		 2019
£
5,537
5,001
499
5,500
37

The church has an interest in the following assets not capitalised in these Financial Statements.

15
COIF CHARITIES ETHICAL INVESTMENT FUND
Balance b/fwd 1 January
Investments/(withdrawals) during the year
Gain/(loss) on investment
Balance c/fwd 31 December		 2020
£
78,809
--
4,982
83,791		 2019
£
66,609
--
12,200
78,809

On 6th December 2018 the church purchased 30,438.75 units in the fund at a price of 229.97p per unit (total cost £70,000). There have been no transactions since. At the year end the bid value of the units was 275.28p (2019 : 258.91p) per unit giving rise to an unrealised gain on the investment of £4,982 during the year. The investment gain is split between the General Fund, the Maintenance Fund and the Legacy Fund in proportion to those funds interest in the invested balance, currently 3/7ths, 3/7ths & 1/7th respectively.

The fund pays dividends four times a year and at 31st December 2020 had a gross dividend yield of 3.06% (2019 : 3.19%).

Units in the fund can be traded every Thursday with settlement proceeds being remitted to the church bank account within four Business Days.

16 COIF CHARITIES DEPOSIT FUND

No notice period is required to withdraw these funds which can generally be accessed within a few days via postal delivery of a signed withdrawal authority.

KINGS ROAD UNITED REFORMED CHURCH

13

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

17 DESIGNATED FUNDS

Maintenance Fund

Funds set aside to meet the cost of maintaining the fabric of the church, the manse & 40 Kenilworth Gardens buildings and for providing and servicing furniture and equipment to enable the buildings to be used effectively to meet the church's objectives.

Legacy Fund

Funds set aside to enable the church to meet obligations or carry out projects, the costs of which can not be met from the church's regular sources of income.

HARP Fund - Revenue

Rent previously received on a property sold to HARP in 2014 set aside to provide revenue support to the church in meeting its objectives in regard to charitable outreach.

Roof Fund

Funds received and set aside to carry out a major refurbishment of the lead work, masonry, flat roof areas and rain water goods of the church building at 91 Crowstone Road.

Kitchen Fund

Funding received and set aside to meet the cost of improvements to the church kitchen.

17.1 The movements on the Designated Funds during the year were:

Maint. Maint. Legacy HARP Roof Kitchen Total Total
Fund Fund Fund Fund Fund 2020 2019
£ £ £ £ £ £
Balance b/fwd 1 January 52,298 19,211 3,814 -6,297 2,114 71,140 64,067
Incoming resources -- 130 -- 2,200 515 2,845 23,041
Resources expended -21,334 -1,208 -- -- -138 -22,680 -40,968
Investment gain 2,135 712 -- -- -- 2,847 --
Fund Transfers 14,525 1,259 -- -- -- 15,784 25,000
Balance c/fwd 31 December
£		 47,624 £ 20,104 £ 3,814 £ -4,097 £ 2,491 £ 69,936 £ 71,140
2020 2019
Maintenance Fund £ £
Balance b/fwd 1 January 52,298 33,296
Budgeted transfer from the General Fund for ongoing maintenance costs 10,750 10,000
Additional transfer from the General Fund re move of stained glass windows from Westcliff URC -- 15,000
Transfer from General Fund of share of investment gain at 31st December 2019 3,775 --
Share of 2020 increase in value of investment 2,135 --
Church - Items under £1,000 -1,872 -1,978
Church - Servicing of equipment -1,253 -1,808
Church - Transfer of stained glass from Westcliff URC to Kings Rd. (Light boxes & entrance) -11,435 -1,000
Church - Repair of solar panels, fixing of pigeon guard & removal of pigeon detritus -6,381 --
Church - New valve and controller for boiler -- -1,212
Manse - Items under £1,000 -358 --
40 Kenilworth Gardens - Items under £1,000 -35 --
Balance c/fwd 31 December £ 47,624 £ 52,298
Legacy Fund
Balance b/fwd 1 January 19,211 16,996
Transfer from General Fund of share of investment gain at 31st December 2019 1,259 --
Share of 2020 increase in value of investment 712 --
Legacy - Mr D Clough -- 4,000
Legacy - Miss M Baptie (balance of legacy) 30 --
Donations 100 25
Gardening (net of Paint Pots contribution) -318 -402
First Aid course (net of fees received) -- -290
Piano / Organ tuning -890 -1,118
Balance c/fwd 31 December £ 20,104 £ 19,211

17.2 Maintenance Fund

17.3 Legacy Fund

KINGS ROAD UNITED REFORMED CHURCH

14

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

2020 2019
17.4 HARP Fund - Revenue £ £
Balance b/fwd 1 January & c/fwd 31 December £ 3,814 £ 3,814
17.5 Roof Fund
Balance b/fwd 1 January -6,297 9,153
Fund raising -- 751
Donations 2,200 6,487
Grants -- 10,059
Contract payments -- -28,941
Fees and insurance -- -3,806
Balance c/fwd 31 December £ -4,097 £ -6,297
17.6 Kitchen Fund
Balance b/fwd 1 January 2,114 808
Refreshment receipts and net proceeds of light lunches etc. 515 1,689
Donations -- 30
Supplies -121 -403
Equipment -17 -10
Balance c/fwd 31 December £ 2,491 £ 2,114
18 RESTRICTED FUND
Communion Fund
Collections taken during Communion services are credited to this fund which is used to support charities bringing
assistance and relief to those in need at home and abroad, and occassionally to assist individuals directly.
Balance b/fwd 1 January 401 542
Collections 422 902
823 1,444
Expenditure :-
Alzheimer's Society -- 82
Bar-n-Bus 90 --
Bible Society -- 65
Childrens Society -- 132
Christian Aid 157 --
Dementia UK -- 79
Essex & Herts Air Ambulance -- 148
Leprosy Mission -- 76
MIND 163 --
One Love Soup Kitchen 87 --
Royal National Lifeboat Institution 36 78
Scope -- 74
Southend Christians Against Poverty -- 88
Southend Hospital -- 66
Southend Soup -- 92
Trust Links -- 63
533 1,043
Balance c/fwd 31 December £ 290 £ 401