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← Kings Road United Reformed Church

2024-12-31-accounts

KINGS ROAD UNITED REFORMED CHURCH

TRUSTEES REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31st DECEMBER 2024

CONTENTS

CONTENTS
Page
Report of the Trustees 1 - 5
Independent examiner's report 6
Statement of financial activities 7
Balance sheet 8
Notes to the financial statements 9 - 15

KINGS ROAD UNITED REFORMED CHURCH

1

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31st DECEMBER 2024

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 2024 until the date this report was approved were:

Andrew Birch (Reverend) Resigned 16th May 2024 (Chair until that date) Geoff Wright (Reverend) Chair from 16th May 2024 Lauren Rule Les Denton Lynda Beamont Appointed 3rd November 2024 Maggie Wright Margaret Bidmead Appointed 6th October 2024 Nick Raggett

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. The Church Meeting meets four times a year.

The members of the Elders' Meeting are the minister in pastoral charge and up to seven 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

2024 proved to be a challenging year for the congregation of Kings Road United Reformed Church (KRURC).

On 19th May it was announced that, our full time minister, Revd Andrew Birch, had been forced to take long term sick leave, this culminated in his early retirement on the grounds of ill health. On 6th October we were able to say goodbye to Andrew and his wife Hilary, and were greatly pleased that he was able to move into retirement, albeit earlier than expected. Later in the year, on 8th December, the congregation were shocked and saddened to hear that due to health reasons Revd Geoff Wright, our retired Non-Stipendiary Minister, would be stepping back with immediate effect from his significant leadership roles including all ministerial and administrative responsibilities. His wife, Maggie, would be doing likewise.

KRURC therefore ended 2024 without the ministerial oversight that it had previously enjoyed.

Proposals for a six church grouping under the National Churches scheme Mission Partnerships, which would include KRURC, has struggled to gain momentum in our part of the South Essex area. Without such a Mission Partnership being formed, and officially ‘constituted’, the calling of a full time stipendiary minister to the Partnership remains firmly on hold. It is hoped with the support of the Eastern Synod of the United Reformed Church, this current stagnation, through prayerful dialogue, can lead to the formation of a Mission Partnership and ultimately the calling of a second minister to it.

This will require a new model of leadership whilst continuing to work as a United Reformed Church, through the Elders and Church Meetings. The new model will need to carry us forward with the things that we already do so well and relate to, yet enable us to work within the new structures of the Partnership.

KINGS ROAD UNITED REFORMED CHURCH

3

REPORT OF THE TRUSTEES - Continued

REVIEW OF ACTIVITIES AND ACHIEVEMENTS - Continued

KRURC's small but dedicated Eldership was numerically bolstered with an extraordinary Elders Election which took place on 28th July. Two returning Elders were added to the number. Through all of these difficult times the Eldership remained unwavering, ensuring that KRURC offered weekly Sunday Worship for all, and continued to ensure care and support for its congregation and the community within which it is set. Our average attendance at Sunday Morning Worship held at approximately 55. During the week our activities include our Monday morning ‘Coffee and Chat’ and fortnightly ‘Light Lunches’ this enables us to meet some of those within our community who seek companionship, warmth and a reason to step out through their front doors. ‘Stay and Play’ invites carers and the youngest of pre-school children into our buildings for a morning of fun and/or relaxation and an opportunity for the children and carers alike to build friendships. Our various events from ‘Flower Festivals’ to ‘Christmas Markets’ give us further opportunities to engage with the people who use our building regularly, and others in our locality who look upon us as their Church, although perhaps they only join us for the ‘socials’ rather than the ‘spirituals’. We are home to 27 different groups from the Westcliff area and beyond, and host many concerts throughout the year. The regular meetings of the Church - Prayer Group, Bible Study and so on; its activities and groups, along with a Scout Group, Explore Scouts and Rainbows, Brownies, Guides and Rangers ensure that our building is normally buzzing with activity.

On 1st December we appointed an Outreach and Community Worker (for an initial 20 hours per week) on a fixed term 5 year contract. Our hope is for her to further build links between the Church Family and some of the 27 groups that call KRURC their home and to continue to develop links with the community that God has set us in. This project is in its infancy but already friendships are being nurtured and new initiatives are being developed.

Next year marks the 100th anniversary of the opening of the building which we now know as home. The world and the church that longs to serve it, is very different now from when the ‘New Church Building’ for Crowstone Congregational Church was opened in 1926. Not least because KRURC is the union of three churches with Congregational and Presbyterian heritage, a Trinity of local Churches worshipping and witnessing as one.

As we look towards the future, whilst giving thanks to God for our past, we do so, as a group of fallible Christians attempting to live out The Great Commission through our worship and week day activities, knowing that we have a God of the second chance, a God who loves us, a God who accepts and welcomes ALL people, unconditionally, unequivocally.

FINANCIAL REVIEW

A review of 2024 is best conducted looking separately at the church's General and Designated funds. Recurring activity is primarily through the General Fund. Income & expenditure through the designated funds tends to be more erratic.

The General Fund position in 2024 was stronger than expected. Anticipating a significant deficit at the beginning of the year we ended with a shortfall of just £1,891. The corresponding figure for 2023 was a surplus of £5,869. 2024 income exceeded budget but was nevertheless £12,386 lower than in 2023. At the same time, while less than expected, 2024 expenditure was £2,512 higher than in 2023. These two adverse variances were significantly off-set by a reduction of £9,625 in the amount transferred to the Maintenance Fund (Designated).

General Fund income of £114,347 was £12,386 lower than in 2023. A drop in regular giving and donations and the absence of a Gift Day saw income from donations fall £5,521. Income from other trading activities, primarily hall lettings was down £3,224. This was better than expected and reflected a number of new hirers. The previous year (2023) had included a one-off Summer long letting of our premises to a local dance school which had generated £8,972. Income from investments was little changed. Higher interest and rental income were offset by lower feed-in-tariff from our solar panels as a result of the failure of the inverter. Other income was down £3,646. The Synod grant support of £5,610 received in 2023 re higher energy costs during the 2022/23 Winter was not repeated for the following Winter. The trust fund income of £1,964 in 2024 is funding for a community and outreach worker recently employed by the church. Funding from this source will continue to support the post in 2025.

KINGS ROAD UNITED REFORMED CHURCH

4

REPORT OF THE TRUSTEES - Continued

FINANCIAL REVIEW - Continued

General Fund expenditure of £116,191 was £2,512 higher than in 2023. Ministry & Mission costs were little changed, an increase of £1,320 in our contribution to the central URC M&M Fund being offset by a saving on manse and ministers car expenses following the retirement of our minister at the end of September. The £1,976 rise in church activities costs reflects the recent employment of our community and outreach worker, salary and other costs £1,964. Church running costs increased £455; a saving on gas costs of £4,777 in part due to contract renewal being exceeded by increases in electric, also contract related, insurance, caretaker and cleaning costs and IT expenses.

2024 saw a net inflow of £29,966 to our Designated funds in marked contrast to the £68,986 outflow in 2023. £80,000 was received from the Synod trust holding the proceeds of sale of the Westcliff URC buildings. In addition the church received a legacy of £5,000 from the estate of Mrs J Walsh. The Synod trust income was in respect of the various expenses recorded at note 17.4 Expenditure from the Designated accounts was £39,496 less than in 2023 reflecting a reduction of £40,471 in the amount spent from the Westcliff Fund on projects to improve the church premises.

The regular transfer between funds of money from the General Fund to the Maintenance Fund was reduced from £10,750 to £1,125 in 2024. This reflected the receipt, early in 2025, of the funds referenced at note 17.2 These have restored the Maintenance Fund's balance to an acceptable level negating the need for a larger transfer from the General Fund. Full details of all designated funds are at Note 17.

The church's financial projections suggest a broadly break-even position on the General Fund in 2025. Potential Gift Day income and savings as a result of no minister being in post eliminating the small deficit that arose in 2024.

The church holds an investment in the COIF Charities Ethical Investment Fund. While the value of this investment fluctuates, it has trended up over time. The trustees consider that the forecast dividend yield of 2.8% provides an acceptable rate of return for the risk being taken. It is anticipated that the value of the investment will continue to increase over time protecting the invested reserves from the detrimental effects of inflation. The investment increased in value by £2,515 during 2024 following a £8,318 increase in 2023.

The generous financial support of members and friends, this past year and ongoing, is greatly appreciated. The trustees are particularly grateful that through this period of continuing higher energy costs and ever more inflationary pressures on the cost of living, giving to the church has held up well and fund raising events have been very well supported.

RESERVES POLICY

Unrestricted Funds:-

Recognising that income fluctuates in amount and in timing and may not match anticipated expenditure, the Elders seek to keep a balance in the Church's General Fund equivalent to the projected deficit for the following year (if such is the case) plus at least three months expenditure. This deficit funding / 'working capital' ensures that adequate funds are always available to meet day to day costs as they are incurred and ensures that activities can be planned and carried out with certainty and without fear of interruption. The balance at 31st December 2024 of £80,459 is in excess of this funding level.

Designated Funds:-

The church maintains a number of designated funds for specific purposes. The detail of these and the movements on the funds during the year are set out at Note 17 to the Financial Statements.

At 31st December 2024 the Maintenance Fund stood at £333. As stated at note 17.2 £49,906 has been received since then lifting the balance available to the church to £50,239. This is sufficient to cover day to day costs and many larger repair tasks but would not be adequate to meet the cost of major repairs. In these circumstances the church would need to seek outside grant support.

KINGS ROAD UNITED REFORMED CHURCH

5

REPORT OF THE TRUSTEES - Continued

RESERVES POLICY - Continued

At 31st December 2024 the Legacy Fund stood at £29,163, the Kitchen Fund at £5,673 and the Westcliff Fund at £53,414. These balances are sufficient in terms of the expenditure currently planned for or being charged to each fund.

Restricted Fund:-

The church maintains one restricted fund. The detail of this and the movements on the fund during the year are set out at Note 18 to the Financial Statements.

This report was approved by the Elders' on 3rd April 2025 and is signed on their behalf by Nick Raggett.

Docusign Envelope ID: 2ED391DD-00E6-4010-9E28-AABCECD0034D

6

KINGS ROAD UNITED REFORMED CHURCH

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

Independent Examiner's Report to the members of Kings Road United Reformed Church

I report to the members on my examination of the financial statements of Kings Road United Reformed Church (‘the charity’) for the year ended 31 December 2024.

This report is made solely to the charity’s trustees, as a body, in accordance with section 145 of the Charities Act 2011. My work has been undertaken so that I might state to the charity's trustees those matters I am required to state to them in this report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity and the charity’s trustees as a body, for my work, for this report, or for the opinions I have formed.

Responsibilities and basis of report

As the trustees of the charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act').

1 report in respect of my examination of the charity’s accounts carried out under section 145 of the Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

An independent examination does not involve gathering all the evidence that would be required in an audit and consequently does not cover all the matters that an auditor considers in giving their opinion on the accounts. The planning and conduct of an audit goes beyond the limited assurance that an independent examination can provide. Consequently I express no audit opinion on the accounts and my report is limited to those specific matters set out in the examiner's statement.

Independent examiner's statement

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

  1. accounting records were not kept in respect of the charity as required by section 130 of the Act; or

  2. the accounts do not accord with those records; or

  3. the financial statements do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair' view which is not a matter considered as part of an independent examination.

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Signed by. the Independent Examiner:. [ea051005BA2878408...Signed by: Priscilla Asirifi ACMA 3 St Annes Place Manchester M34 5JB

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Date: 22/03/2025
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KINGS ROAD UNITED REFORMED CHURCH

7

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2024

Unrestricted Funds Unrestricted Funds Restricted TOTAL TOTAL
General Designated Funds 2024 2023
Note £ £ £ £ £
INCOMING RESOURCES
Income from:
Donations and legacies 2 48,241 5,000 3,474 56,715 59,415
Charitable activities 3 447 -- -- 447 362
Other trading activities 4 46,263 2,624 -- 48,887 52,114
Investments 5 17,432 -- -- 17,432 17,512
Other 6 1,964 80,000 -- 81,964 18,210
Total 114,347 87,624 3,474 205,445 147,613
RESOURCES EXPENDED
Expenditure on:
Raising funds 7 936 416 -- 1,352 1,753
Charitable activities:
Ministry & Mission 8 51,915 -16 -- 51,899 51,959
Church activities 9 2,780 6,015 -- 8,795 7,227
Church running costs 10 59,360 53,805 -- 113,165 151,256
Support of outside causes 11 1,200 -- 3,505 4,705 6,890
Total 116,191 60,220 3,505 179,916 219,085
Net gain/(loss) on investment 15 1,078 1,437 -- 2,515 8,318
Net income/(expenditure) before transfers -766 28,841 -31 28,044 -63,154
Transfers between funds 17.1 -1,125 1,125 -- 0 0
Net movement in funds -1,891 29,966 -31 28,044 -63,154
Total funds b/fwd 1 January 2024 82,350 58,617 164 141,131 204,285
Total funds c/fwd 31 December 2024 £ 80,459 £ 88,583 £ 133 £ 169,175 £ 141,131
(Note 17) (Note 18)

The notes on pages 9 to 15 form part of these financial statements

KINGS ROAD UNITED REFORMED CHURCH

8

BALANCE SHEET AS AT 31 DECEMBER 2024

Unrestricted Funds Unrestricted Funds Unrestricted Funds Restricted TOTAL TOTAL
General Designated Funds 2024 2023
Note £ £ £ £ £
FIXED ASSETS
Tangible assets 14 3,568 -- -- 3,568 4,512
CURRENT ASSETS
Debtors
Gift aid tax recoverable 7,184 -- -- 7,184 7,100
Accrued income 4,407 -- -- 4,407 1,835
Hall fees & other debtors 6,485 -- -- 6,485 221
Prepayments 7,202 -- -- 7,202 6,804
Total Debtors 25,278 0 0 25,278 15,960
Investments
COIF Charities Ethical Investment Fund 15 40,344 53,791 -- 94,135 91,620
Bank and cash balances
COIF Charities Deposit Fund 16 15,424 34,330 - 49,754 26,896
Bank current accounts 975 621 563 2,159 10,505
Total bankand cash balances 16,399 34,951 563 51,913 37,401
Total Current Assets 82,021 88,742 563 171,326 144,981
CURRENT LIABILITIES
Accrued expenses 3,104 159 -- 3,263 6,050
Income received in advance 1,611 -- -- 1,611 401
Creditors payable within one year 415 -- 430 845 1,911
5,130 159 430 5,719 8,362
NETCURRENTASSETS ~76,891 ~88,583 133 165,607 136,619
TOTAL NETASSETS £7 80,459 £ 88,583 £ 133 £169,175 £ 141,131
THE FUNDS OF THE CHARITY
Unrestricted income funds:
General 80,459 80,459 82,350
Designated 17 88,583 88,583 58,617
Total 169,042 140,967
Restricted income funds: 18 133 133 164
£80,459 £88583 88583 £#133 £169,175 £141,131 141,131
APPROVED by the Elders' on 3rd April 2025
\
Nick Raggett
™		 and signed on their behalf by:

Les Denton

The notes on pages 9 to 15 form part of these financial statements

KINGS ROAD UNITED REFORMED CHURCH

9

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

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 17. 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 church 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 I.T. 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

10

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

Unrestricted Funds Unrestricted Funds Restricted TOTAL TOTAL
General Designated Funds 2024 2023
£ £ £ £ £
2 DONATIONS AND LEGACIES
General Giving 38,146 -- -- 38,146 40,047
Gift Day -- -- -- -- 2,722
Income tax refunds under Gift Aid 9,304 -- 165 9,469 10,042
Special offerings and donations -- -- 3,309 3,309 5,488
Other donations 791 -- -- 791 1,116
Legacies -- 5,000 -- 5,000 --
£ 48,241 £ 5,000 £ 3,474 £ 56,715 £ 59,415
3 CHARITABLE ACTIVITIES
Wedding fees & collections -- -- -- -- --
Parent & Toddler, Childrens & Youth activities 447 -- -- 447 362
£ 447 £ -- £ -- £ 447 £ 362
4 OTHER TRADING ACTIVITIES
Church lettings 42,182 -- -- 42,182 44,850
Fund raising events 3,998 2,624 -- 6,622 6,569
Sale of cooker -- -- -- -- 500
Photocopier income 83 -- -- 83 195
£ 46,263 £ 2,624 £ -- £ 48,887 £ 52,114
5 INVESTMENTS
Interest 3,265 -- -- 3,265 2,934
Investment Fund Dividends 2,669 -- -- 2,669 2,621
Rent : 40 Kenilworth Gardens 7,450 -- -- 7,450 6,900
Rent : Tennis Club 2,000 -- -- 2,000 2,000
Solar panel income 2,048 -- -- 2,048 3,057
£ 17,432 £ -- £ -- £ 17,432 £ 17,512
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
Eastern Synod Utility Grant -- -- -- -- 5,610
Henry E Bass Fund Grant -- -- -- -- 12,600
Income from Synod trust fund 1,964 80,000 -- 81,964 --
£ 1,964 £ 80,000 £ -- £ 81,964 £ 18,210
7 RAISING FUNDS
Kitchen / coffee bar supplies -- 281 -- 281 406
40 Kenilworth Gardens : Maintenance -- 135 -- 135 477
40 Kenilworth Gardens : Insurance 245 -- -- 245 229
40 Kenilworth Gardens : Letting fees 671 -- -- 671 621
Other 20 -- -- 20 20
£ 936 £ 416 £ -- £ 1,352 £ 1,753

KINGS ROAD UNITED REFORMED CHURCH

11

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

Unrestricted Funds Unrestricted Funds Restricted TOTAL TOTAL
General Designated Funds 2024 2023
£ £ £ £ £
8 MINISTRY & MISSION
URC Ministry & Mission Fund (See below) 46,944 -- -- 46,944 45,624
Manse expenses 2,401 -- -- 2,401 3,463
Manse maintenance -- -16 -- -16 59
Ministers car expenses 751 -- -- 751 1,092
Ministers expenses 47 -- -- 47 317
Worship & resources 1,772 -- -- 1,772 1,404
£ 51,915 £ -16 £ -- £ 51,899 £ 51,959

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 other benefits for ministers), running the denomination, and the wider mission of the national church. In 2023 the unrestricted income of The United Reformed Church Trust was £18.6 million, 88% of which was provided by the Ministry & Mission Fund contributions of churches. Unrestricted expenditure amounted to £19.5 million of which 81% related to ministerial costs.

9 CHURCH ACTIVITIES
Children's activities 137 -- -- 137 131
Community & Outreach worker 1,350 -- -- 1,350 --
Organ & Piano tuning (inc. minor repairs) -- 1,015 -- 1,015 1,823
Organ repairs funded by Henry E Bass Fund grant -- 5,000 -- 5,000 4,600
Other costs 679 -- -- 679 415
Recruitment & training 614 -- -- 614 258
£ 2,780 £ 6,015 £ -- £ 8,795 £ 7,227
10 CHURCH RUNNING COSTS
Buildings maintenance -- 19,483 -- 19,483 17,718
Centre Manager 12,475 -- -- 12,475 12,771
Caretaker / Cleaner 10,104 -- -- 10,104 9,461
Cleaning materials & refuse collection 3,266 -- -- 3,266 2,584
Depreciation of equipment Note 14 2,299 -- -- 2,299 2,116
Electric 7,081 -- -- 7,081 4,500
Gardening -- 1,506 -- 1,506 719
Gas 11,168 -- -- 11,168 15,945
Independent Examiner 275 -- -- 275 250
Information Technology 1,100 -- -- 1,100 624
Insurance 9,079 -- -- 9,079 8,444
Other costs 554 -- -- 554 349
Payroll 312 -- -- 312 288
Photocopier charges 322 -- -- 322 515
Premises improvements (Westcliff Fund) -- 30,405 -- 30,405 70,876
Printing, postage and stationery 271 -- -- 271 193
Servicing / replacement of equipment (inc. compliance reviews) -- 2,411 -- 2,411 3,038
Telephone 651 -- -- 651 519
Water 403 -- -- 403 346
£ 59,360 £ 53,805 £ -- £ 113,165 £ 151,256

KINGS ROAD UNITED REFORMED CHURCH

12

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

Unrestricted Funds Unrestricted Funds Restricted TOTAL TOTAL
General Designated Funds 2024 2023
£ £ £ £ £
11 SUPPORT OF OUTSIDE CAUSES
Homeless Action Resource Project (H.A.R.P.) 1,200 -- -- 1,200 1,200
Communion Fund (see Note 18) -- -- 1,224 1,224 1,261
Commitment for Life -- -- 825 825 825
Other restricted gifts passed on (see below) -- -- 1,456 1,456 3,604
£ 1,200 £ -- £ 3,505 £ 4,705 £ 6,890
11.1 Other restricted gifts passed on:-
General :-
Christian Aid 864 1,358
Citizens Advice Bureau 60 --
HARP (Harvest collection) 282 --
Cancer Research UK (collection in memory of Lou Raggett) -- 250
The UK Sepsis Trust (collection in memory of Lou Raggett) -- 250
Macmillan (Coffee morning - September) -- 413
Royal National Lifeboat Institution (Coffee morning - January) -- 283
£ 1,206 £ 2,554
Prayer Group :-
United Nations Committee for Refugees -- 200
Teenage Cancer Trust -- 250
Christian Aid 250 --
Fair Havens -- 200
Amnesty International -- 250
Crisis at Christmas -- 150
£ 250 £ 1,050
Total 'Other restricted gifts passed on' £ 1,456 £ 3,604
12 PAID EMPLOYEES
Salaries and wages 22,989 20,439
Pension contributions 940 323
£ 23,929 £ 20,762
Average head count in the year 2 2
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 -- 280
Mileage -- 30
Manse telephone 390 508
£ 390 £ 818

13.3 Transactions with related parties: -

Nick Raggett (Trustee) was paid £325 to dismantle and remove the old church notice boards and erect the new notice boards in the agreed locations.

KINGS ROAD UNITED REFORMED CHURCH

13

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

14
TANGIBLE FIXED ASSETS
Cost
Balance b/fwd 1 January
Additions
Disposals
Balance c/fwd 31 December
Depreciation
Balance b/fwd 1 January
Depreciation for year
Disposals
Balance c/fwd 31 December
Net book value		 I.T.
Equipment
4,705
--
4,705
2,539
1,176
--
3,715
990		 Sound &
Visual
Equipment
1,997
1,355
-897
2,455
1,997
80
-897
1,180
1,275		 Photo-
-copier
£
4,170
--
--
4,170
1,824
1,043
--
2,867
1,303		 TOTAL
2024
£
10,872
1,355
--
12,227
6,360
2,299
--
8,659
3,568		 TOTAL
2023
£
10,002
870
--
10,872
4,244
2,116
--
6,360
4,512

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		 2024
£
91,620
--
2,515
94,135		 2023
£
83,302
--
8,318
91,620

On 6th December 2018 the church purchased 30,438.75 units in the fund at a price of £2.30 per unit (total cost £70,000). There have been no transactions since. At the year end the value of the units was £3.09 (2023 : £3.01) per unit giving rise to an unrealised gain on the investment of £2,515 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. On 28th March 2025 the value of the units was £3.02 giving the investment a value of £92,068.

The fund pays dividends four times a year and at 31st December 2024 had a forecast gross dividend yield of 2.84% (2023 : 2.86%).

Units in the fund can be traded daily with settlement proceeds usually 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 delivery of a signed withdrawal authority.

KINGS ROAD UNITED REFORMED CHURCH

14

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

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.

Westcliff Fund

Monies transferred to the church from the Synod trust set up to hold the proceeds of sale of the Westcliff URC buildings. These funds are available for maintenance of the church premises or for mission activities.

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. Legacy Westcliff Kitchen Total Total
Fund Fund Fund Fund 2024 2023
£ £ £ £ £
Balance b/fwd 1 January 19,606 31,325 3,819 3,867 58,617 127,603
Incoming resources -- 5,000 80,000 2,624 87,624 15,227
Resources expended -21,476 -7,521 -30,405 -818 -60,220 -99,716
Investment (loss) / gain 1,078 359 -- -- 1,437 4,753
Fund Transfers 1,125 -- -- -- 1,125 10,750
Balance c/fwd 31 December £ 333 £ 29,163 £ 53,414 £ 5,673 £ 88,583 £ 58,617
2024 2023
17.2 Maintenance Fund £ £
Balance b/fwd 1 January 19,606 26,371
Budgeted transfer from the General Fund for ongoing maintenance costs 1,125 10,750
Share of increase / (decrease) in value of investment 1,078 3,565
Church - Items under £1,000 -4,140 -1,942
Church - Servicing of equipment (including compliance reviews) -1,874 -2,826
Church - Repairs to heating system -- -792
Church - Supply & installation of thermostatic radiator valves -- -1,056
Church - Brickwork repairs to old subsidence damage -7,109 --
Church - Quinquennial repairs & redecoration (windows, walls & perspex sheet) -6,570 --
Church - Replacement of failed solar panal inverter -1,664 --
Church - Repair & refelting of Upper Room roof -- -8,501
Church - Replacement of fire alarm and associated equipment -- -3,576
Church - Electrical repairs following inspection in 2022 -- -1,851
Manse - Items under £1,000 16 -59
40 Kenilworth Gardens - Items under £1,000 -135 -477
Balance c/fwd 31 December £ 333 £ 19,606

Since the year end the church has received £49,906 from the trust fund holding the proceeds of sale of the Westcliff URC buildings. This money, which has been credited to the Maintenance Fund, is reimbursement of maintenance costs incured since the Westcliff buildings were sold.

17.3 Legacy Fund

Legacy Fund
Balance b/fwd 1 January 31,325 24,679
Share of increase / (decrease) in value of investment 359 1,188
Legacy - Mrs J Welsh 5,000 --
Grant - Henry E Bass Fund (for repairs to the organ) -- 12,600
Organ repairs funded by Henry E Bass Fund grant -5,000 -4,600
Gardening -1,506 -719
Piano / Organ tuning (inc. minor repairs & in 2023 the purchase of a piano mat) -1,015 -1,823
Balance c/fwd 31 December £ 29,163 £ 31,325

KINGS ROAD UNITED REFORMED CHURCH

15

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

2024 2023
17.4 Wetcliff Fund £ £
Balance b/fwd 1 January 3,819 74,695
Transfer from Synod trust fund 80,000 --
New church notice boards -7,141 --
Roof survey -2,160 --
New audio visual system -11,622 -33,864
Meeting Place chairs -- -4,338
Kitchen refurbishment -- -8,722
New carpet for the Sanctuary & Belden Room -- -8,220
Feasibility work re eco replacement for church boilers -1,680 -8,415
Garden landscaping -- -3,680
Sanctuary lighting upgrade -216 -2,400
Changing lights to LEDs -7,586 -1,237
Balance c/fwd 31 December £ 53,414 £ 3,819
17.5 Kitchen Fund
Balance b/fwd 1 January 3,867 1,858
Refreshment receipts and net proceeds of light lunches etc. 2,624 2,127
Supplies -281 -406
New Fridge Freezer -403 --
Sale of gas cooker -- 500
Equipment repairs and minor purchases -134 -212
Balance c/fwd 31 December £ 5,673 £ 3,867

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 164 201
Collections - Monthly communion services 1,193 1,224
Christingle Service and Christmas Eve Midnight communion -- --
1,357 1,425
Expenditure :-
British Heart Foundation 104 --
Childrens Society 105 123
Christians Against Poverty -- 96
Christian Aid 110 --
Citizens Advice Bureau -- 90
Essex & Herts Air Ambulance Trust 64 --
Fishermans Mission -- 93
Guide Dogs -- 93
HARP (Homeless Action Resource Project) 95 --
Leprosy Mission 77 --
Little Havens -- 85
Little Heroes -- 125
Off The Streets 86 --
Pacific Theological College - Fiji 140 --
Royal National Institute for the Blind -- 90
Royal National Lifeboat Institution 90 --
Samaritans 75 60
Smile Train 106 --
SOS Rape Crisis -- 131
Southend Christians Against Poverty 108 --
Southend University Hospital Breast Unit -- 145
Southend University Hospital Spotlight Radiotherapy Appeal -- 130
St Vincent's Centre 64 --
1,224 1,261
Balance c/fwd 31 December £ 133 £ 164

Balance c/fwd 31 December