Charity Registration No. 1135259 Compcwy RegistrotK)n No. 07133411 (Englond and Wo19$1 Klngdom Advance Network Annual report and unaudited financial statements for the year ended 31 December 2023 PAR TNER.SHIP
KINGDOM ADVANCE NETWORK LEGAL AND ADMINISTRATIVE INFORMATION Trust••s H K McCabJm A K Srrilh Rev S P Wolson RevJ A Wat50n Mr M F CuFIi5 D R st(11 (Appointed 5 Septembei 20231 (Appointed 5September 20231 H K MCCalm Charfty number 1135259 Company numbei 0713341 1 Keglstered olllce KAN H115 Lone Burtory on TJent DEIAIEJ kndependent eXniner Hoyden Walson tree House Wotsons Yard Hlgh S1T88t Cotlenhom CoTTth]ge CB248RX
KINGDOM ADVANCE NETWORK CONTENTS T[Vee5, report IndeperKlent trxoYrinerf5 rep(yl 51(Jlemenl of financid octMIE5 Baknnce sheet Notes to the fina101 stat8m&nts 10-17
KINGDOM ADVANCE NETWORK TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 31 DECEMBER 2023 The tnjstees present their onnvol rewtr and ffinonciol stotementsf£Ythe yearended 31 Deeember2)23. The tinonciol stirtements have been wepored n occcwdonce vfith the occlnIng set out h nole I to the financiol 51ot¢tYents ond c(mpty with the choritoble ttud's goveining docurnenl, the Companies Acl 2C06 and 'Actounting and Reporting by ChortlE5." Statemen", af ReGorrended P[clice appWCOb ta charitie5 preparing their occixjntg n o¢¢ordonce with the Fnonckjl Reportng SI0nLJrd oppFcoblg in the UK ond Republic of Irelond IFRS 1021 leffectwe l Jonuory 791. Objeclves and oclwrlies e princjry of the Tru are to Ihe rde Dt a Ch7n ChCh n Ihe 8vrton on Tr8nt orea ond eL%8where by any mear)s whatsoever ond lo provhje h lo olhers in promoli)g Ihe CTrYtslion loith n Ihe United fngdom and OV&5. The ChJch.. lTrs Alrns ond Ot4ecIes l. ffte oim of the church 15 lo coMrrKn[rfe the ChfisfK]n Faith by frfe5tWe and prothmation ol th? ChrtIon Gospel and the teach'.ng ol Chri5tion ¢octrine and pincples os os the postJd -ue of Chrtstion people ond the prnting ond (jIntIOn of the Bble ond rrterobJe. 2. Thè relef ol persons vtho ure in con(rrtv)ru of need. hardshp LY dtresS orvtho ale aged or 3. Th& advoneement of e(kncation Ihe of Chrtstkin yrjopbs for the gonefal edvcothon of chik1ren or 4. The pr0rTK>tn ol other charfftab purposes benef[al to the ci)mrThJnity and arc4Jnd Burton on Tront or such other places os the Trust moy from tm@ to line operole. . Kingdom Acfvonce Nefvict IKANI ts port of the'Ehvrch in BLrton" ond hos a bng on{Sng Tekntionshi) wtlh Glory of Zion Inletnational. o Christi(7n organisolkx thot puiwe5 objectNes around th8 worfd. 11 ts alsc> port Df Ground Level, ¢Jn aptsstd nebw(¥k ol chuwches bosed n the LSK. v•lh it5 heodouorters w) Lirtdn. Ih• Chwch: ltrs StNclure ond term Th¢ KAN Trustee boord men)ers mnoge KAN as a bvsine55. Id(fing o position of trust and re5ponsibiWty for I,e benefit of KAN'5 5takeholdet5. Dr8cton5 lelIng to the charilakAe trust are mode by the Trustees in consuMolion wth the Apostofic Leaders ond Poslors, N¥ho ole respon5bi b lor goveming the Ife and leuching o.. thtt church. Day lo doy decsions on expenditLKe oncl ocEryies ore decKJed by the 5t<JY Drd voKJDteer5 chorg8 of rfrfferenl orea5 of Ihe church, withkn L)udgets $et ond nit(ed by the Truslees. Ihe powe[5 of appotlEI or iemoval of TrusI8e5 rests both them5efves and the Ap05t0r Leader5. Whld Ihe church does empkny 0 5rrL71 nuYTber of powj stcJff. the wixk of every merY)er of the chwch, that moke5 the drfferènce mi the church aching cJ'edives. ihe finonool iwwrces of ths churck.., lo o very lorge exlent, (xe gwen by membe15 and 5tak8htilcers, and tner PTiVOt8 assèts ono equipment ore regultty usèd In t.e work of Ihe church. Much of Ihts wort is done pt[vole. withoutr tlOn and the htyJrs and value of th(rt time connol be quontffled. The InJ$tee5 hove POKJ due regord lo guidance Ved by the Choitly CorYYrM55K)n decid9 what aCtrtIeS the charitOb Iiust 5houkl undertoke.
KINGDOM ADVANCE NEtWORK TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Achievernerds and pformance The Ye. Ils Ot4ecllves arrtl Achl•¥eme From M(Ych 20 the gk>bal ci)mmunity w05 hit by o pOndern lhot changed the WLYld. Coid stil affects how some people chwstt to g(rther. ngdom Advonce Netwoth has continued its bro(KIC( - V1h 9NJ b¥ the end of 2n3. We broodcast Monday to Friday wilh an encc>urao4ng Wd, sometmes w(ktshp, but y(ryer old communion. Vle now have regukir monthty Wppsison galherngs ond Ih858 or& brotscktsst on ol rmjor rnd ptalftsrm5. We have held broadco5ts f(x tr(mng. equppirvJ wlh nterhiew5 ar.d prog0rn5 gTving an inforrnl look into P80p18 and subjects approprKJte to our audnCe. Invited speokers hove frorn both Ihe UK ond abrood bringing fresh opwwch 0$ well as variety. We hove fovrid thrrt many more peopk engaged vthh ow mniflry Ihon just Ihose vkno coukl ott?nd ou seThices, ith ncr¢os¢d numbers from obrwd. Despile COVKI our nnuence has incTeosed 05 wel os cwrwpport tmjse. Pracllcd h lo the ccrfnrnIy. We continue lo fin(MoalsUPp0rt organiJ1K)n5 oul of ovr MSK)n gving occ<)vnl. These include.. Chrislian Concern lor ow Nalk>n - &ve 01 help ond wpport to those peopb 550 ore lollng fovl ol new l¢gislution thot not provid chris-.n$ the rightto hokj 1her own conviction5 occoirfing to the Bible. Eurovision (Dovid Hulhoway) - Eurowbsi i4 very active around Ihe be weaching the gospel through mass evangefLsrn. belel - Th Ngani5ation works acio&s the UK wlh ex addlS - drkJQS ond akohr4 hexng, very 5ucce55fJlty, lo rehobTI Ilute men ond women. Theii leom5 elp us vdlh wovidw)g ft)j orid iefreshmènt5 tst our gotherg5. We hove co-h05ted o fflens conference wth Iheir group. Passion tor Jesvs Mirislrfe$ - PFJ hcjs served mny notic rrM)ny yec¥5 now. nol justr rh wppc¥liryJ churchos thYDugh leachi)g and preoching, bLr. otso yodcoly with huwntioipjn OKI, bU+n0 clino5, whanage'5 efc. We hove olso provided support for a Chrf51ian cenlre in= tsthhn. Germny, and rrini5tries working with jeWh corrwnunitie5 n15rael and eLsewhere. A ch11 school in Scotland has been help8d through Ihe gene¥osity c>f our members ond portts. We help equip leoder5 from voU5 chuTch t)ackgourKts lo teach and Irain and provide teachwo M¢JIer&. W8 a150 rnonufoctUTe and dlvIe le0chg materiats n Ihe UK and inlerratK)noly. We hove devebped our owr teaching resources whith in.clude busness ond kodsrsh""p troniYg. vtyon, personol development etc.. os wen biblcol principles. Our members fve acro the [on. wilh 50FTE trave4ng on hour or rnore for OUT gotherinw. Fortunate the development of our medi¢J departrEnl encknled us to CommunOIe to o greoler globol OurfnCe ond toke odvuntoge of new technokoy and rr([ plolformi. Sorne ol Ihe ye(w's hryie inckKle Medla 7he men)ers und porlners ol oui chuich apFJecthe OLK bf(NJdca5ts arKI have been encbbed to not feel isolcrted or suffer from nety and fear. Ckn lewg fvJvfes contnve to c*Yb ond we con.$i%tentty hove new viewers from vcjrious nationsjoiiing ow broodca%ts. Golherfngs We hove chosen to hosl Month wlheTrngs. wlh 5Fpokers from our home team. Ihese hcwe b8come populorwth many and we have new vi8itoFs every month. As a res we are 0150 adcSng new porlnets to the rr,ntstry. Beone Our Romanian congregalirxi contiriue5 lo grow. Ihey shore our k)n ond Vae5 ond cxe working clssety vith our leadership and congregation. W8 have pChaSed equpnf lot knngJogÈ interelatIOn 0$ we look to hove one Engli%h speokng gotherng rothw thon Iwo n drfferw)t Icmgvages. This new congregotKX) coled "Beone" are yovng Vth fomifies oncl ore enioyng u5Wg wrlaclhe5 and ben-fftliig frun w wEdom. exp8ri8nc8 aY)d mahKtty. The Tree$ hove compFEd wilh the duly Tr 5eclion 17151 of the Ch(wifEs Acl 3Jl I lo have due regard lo Ihe pubr benerrt guKJonce pubrhed by the Chattly COrTYnSLn.
KINGDOM ADVANCE NETWORK TRUSTEES, REPORT (INCLUDING DIRECIORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Advonce Men October we slarted wr mens miTh5try lo help th8 m8n open up ther hearts and Fyes lo other men to enob them lo improve thr mental and emolK)nal, a5wel as spvrlual heoh Plons lor2024 Now Ihat CO¥ is behind u5. (YJI key 51r<rtegy l(x the chwch lo develop our conterences, troining event5 ond prayer initiatwe5. Where optxoprk)le we moke 0$ mony of cAJr gotheings vie1¥ae onli)e. Ihe membership has grown odrfing Afigned Piytnen ond Leoders shore OLK Y(3hJe5 hel) to 5UPP(wt the VI0 of the mintry. FLKthei work wll contnue upd(thng anu irryov¥vJ the fabric of Ihe buikjing.
KINGDOM ADVANCE NETWORK TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORn (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 PlnclU1 revlew Th8 Irust88s have s8t a poficy of retaning reserves. where possbl8. for the foreseeable needs of the church. Whère there 1$ specific copitol een(Stu[e foreseen omcwnts e sel osKle tsilo designoted hJnd5 $0 the free reserves Igenerol re$eNe$ &xclvctng anK>unts fftvested in ossels fot the chLxches usel ue ovaibble to rneet the cos15 of ormal nnIng and of tr)e chwch and to eUre the chbrch can m8et the commitments that have been entered into. Grunt Maklng Pollcy Grfts lo exttemol orgoniiatk)ns ond iidwvob (¥¢ conskjored by the Trvstees on Ihe bosty of need ond lunment of e charale objectwes. Ihere ore no vpper¢y k)ww Irrits ofsvpp¢l. The tnjslees hos (Lssessed Ihe Mo1 rfsks lo which Ihe choriFoble ty eyposed ond Lye sottsfEd that wtems a ) r)loce lo mlllgute e>pOSu lo the rTKJiorffjks. Rtsk Alon(ymert All majcx insbIe are Subject lo nixmal churches and emO¥erS 'nsurance. Contractual tisks (we reyiewed before b¢ng ¢nterod into to 055e55 Ifh)t Ihey couK1 not n)oct vpcn the chvrch's oknlity to luttl its obiectrrfe5. An onnvol remew of ore05 Qf [k undertoken by the Tru51ee5 in cuyvnclion Yh 5toff ond vohJnteer5 Te5ponsble foTJhe ureo ol (x[y. st¥u¢lu, govemunce and mfmemew The charitable trusl is o company fimit6d by gu¢ironte8. The IStee5, who (Ye d50 the drector5 foythe putpose (rf corrwny k. and Served dLKng the year arKI vp to the dote ol swJnolur? of the f.wncicA stot8msnts were- Mr H K Mccollum MrA K SnNth Rev S P Vlolson Rev J A Walson Mr R W Bifitt Mrs IA J Billitt MrMECurt D R St(¥rtl IReskJned jan 2)T81 IResKJned J)Januiyy 2)231 IApp(Mnted 5 Septerr>erX31 IAppointed isepfenraj23l Ne of tn& trustees has ony bene11 v)tere5t in the ccmnpony. Al of Ihe ttudees c¥e merrt)ets of the conwony and gu¢Jruntee lo contrbule £1 in the event ol a windng vp. The corYyuny'5 currenl poficy conceming the poyrnent of trade creth 15 to folDwlhe CBIS Prompt Pcryer5 Code Icopie5 are avaloile trom the CBI, Centre Pont. 103 New oOrd Slreet, Lonthn WCIA I DUI. The coan1S cuThent policy concemkng the powr ol trade to: setffe the terms ol pijyment wilh suppfiers vthen Ihe terr of eoeh Ifonsoction.. ensur8 thut suppfiers ore aware of tTre terms of payment by nCSk)n of Me relÈvont terms in ¢onlracl$,- ond poy in accordance wrfh the cn$ contractual ond 0l1)er oblwltons. The Tru5tees' rep(Yt wos oppri)ved bylhe Boord of Trustee5. Mr H K Mccdkvn Tru51ee
KINGDOM ADVANCE NEfwoRK TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORn (CONTINUED) FOR THE YEAR ENDED 3 7 DECEMBER 2023 Dcrted.. 25 Septemb8r3)24
KINGDOM ADVANCE NETWORK STATEMENT OF TRUSTEES. RESPONSIBIUTIES FOR THE YEAR ENDED 31 DECEMBER 2023 Chority low reqvres Ihe Truslees ID yepore occoJnts fc¥ eoch finoncial yetr gNe ts l¥ve and ftsii wew ot the state of offotrs of Ihe Charity and ol the profft and kn5 of Ihe Chty fu thot p10d. In ep0)ing these occounts. the tIU5t885 ar8 requir8d to.. - Select suitoble occountng poIcS ancl Ihen Op them ¢(SteIly. - Make adjuMentS ond estinates thol ore ieasonobb and prijdenl. Prepare the account5 on the gong Conce bosi5 unless il i% inapFxowiate lo yesvme thot the Choiify wl continve operution. The Tru$lee5 are re5ponsiUe for keepng odequate accwnthng records dLsck)se wth r80sonabkg accuracy at ony lime Ihe fnancKII postliw of the Charrty ond lo them to ensure thol Ihe occounts compty wth th& CharitEs Acts. They are oL%o Tesponsibk fry saftr gu(wd#ig Ihe osse1s of the Clority and hence lo¢ toknng reasonable steps foi the prevention und detection of troud ond olher YregJthe5. The Trustee5 Conf that the accounts co pty wtlh cLYrenl statulory requremenls ond ]hose of Ihe Chorify's Injst deed.
KINGDOM ADVANCE NEtWORK INDEPENDENf EXAMINER'S REPORT TO THE TRUSTEES OF KINGDOM ADVANCE NEtWORK I report to the truslees on my exorrination of Ihe fincJncKI statenIS of nJn Advonce Netwo Ilhe choritob tru$Jl for the yeor en¢Jed 31 Decent>er2)23. Respcffislbllttles aml basls ol rewl As the tru51ee5 Of the chor[late trv51 land rF5 (freclu5 foK the pup05 of corry¢Jny kn41 you are iespon5ble for the preparoln ol the finonciol stotentS in occordonce wth the reqvrerfftnls ol the Compan$ Act 2(X)6 Ithe 2006 Acll. Havng SalrIed myself Ihol Ihe financral slolemenls of the choritoblè fvvsl ue nol required lo be oudit&d under Parl 16 01 the 2(X36 Act ond aTr efoible lor independent ex0mi)ol), l ieport in respecs of exarninatn of the chuttlable trust'5 fr)ancl sl(rtements carrd out undeJ section of Ihe Charilies Act X)I I Ilhe X)I l Acll. In Carrng out my exominaln I hove folbwed ol t•e opp0b Ji&ctb)ns oNen by Ihe Choity ConYnss(on under sÈdion 145151 Ibl tsf fhe 2011 Acl. Independent examknerf5 Jtolemw Snce the chaiilable trust's g055 exceeded yovr ex0ner must be o m8mber ot o body l$ted in section 145 of Me 1>1 l Act. I confmi tho11 cjm quafffled to undedoke Ihe exorr¥notion becou5e l om o rrEmber ol IENTER IN DATABASE cy10I5]. which is one otll)e Iste(I bodes. I have compleled my exominatK)n. I confwm Ihot no Matters hove co¢ to my ottenlh)n i) conngction Ihe Exomln¢Jti giving me cuv5e to believe th¢Jl in ony moter1 re5pecl.. accounting records were not kept.'n respect of Ihe ¢)ntO0 InJ5t os reqUd by section W of the 2LNJ6 Act,. or the fnancial 51ulement5 do nol occordNwlh those recofd5- C the rDCial 5t¢JlerrEn15 do not Comp the occountirvJ requiiements af Section 396 of the XVJ6 Act other thon ony requirement t the a¢count5 g¢ o orKI foyvw wnich 6 not o tter considered os part of un indepèndent examinotKJn,' or the fnonciol stolements hove not been prepored Tr accordonce vath the methods and pnDc1es of Ihe 51otement o R8COtYYnended Proclre for uccountng ofjd reportTng by chorities oppficoble to chorilie5 preporing Ihew CoUnt9 OCC(nCe Ihe Fancj1 RepCY1W STarKlatd appliable in the UK and Repvblic of Ireby IFRS I21. I have no concem5 ond have come acr0$5 no olher m(rtl&rs n Connectic w*h the examination to which ottention should be dr(Thwn n th report n (xderlo enab o proper vnderFlon(Sry of the fnancK)I stotements lo b? reoched. Jayden Wulson Eree House Wat50n's Yard High 51reel Cotthcn carrrlge CB24 8RX Doted.. 26 September X)24
KINGDOM ADVANCE NETWORK STATEMENT OF FINANCIAI ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2023 Tolul 9enerol I¥19nded 20 2tr23 Notes In¢tyne from.. Donulions and g0cleS Chaitloble octivrlie5 hvestments 271, 37.514 3DIO 278.951 37,514 3.010 237.618 35,447 lo,5 248,1 35.447 Tolal income 311,611 319.475 273,185 10.S)5 283.690 ExpeThJNwe 0. ChoTtlable oclivitE5 other eypenditure 311415 239,1 9,937 249.1%7 Tolal exp8ndture 362.845 9.570 371415 Z39.I 9,937 249,¢7 Incomel{e¥pendttwe) 151,Y341 11,7061 1529401 568 Tronsf¢rs befrNeen ftjn 12,6791 2.679 13,3Z21 Nel m¢)vemenl li lund$ 153.9131 973 1529AOI XJ.713 3,890 34,6D3 ReCellIli ollthd5: Fund balonces at l January 2023 766a70 4,694 771.064 735.657 736,461 Fd balak)ces ol 31 December 2023 711457 5.667 718.124 766,370 4,694 771,064 The Stotement ol finonciol actmlies ee5 al gon5 ofKI ke5 recogntsed in Ihe yeai. Al income ond expenditure derive froTn conliTruing octhwlie5.
KINGDOM ADVANCE NEtWORK BALANCE SHEE[ AS AT 31 DECEMBER 2023 2023 Nole5 Fkned assets Tangible ossets 13 753,036 Cuvrent amets Stocks Cosh al bank ond In hand 14 178 122,267 186. 130.117 Crec11ty5.' rynourrt5 lalry duewlhkn one year 16 liJ) 118.o(xii Nel CL assets 184 Told 055e15 le55 4ab•les 718.124 865,153 Crerjtots.. omounls lalhvJ due (rfler mtye Ihon ¢)neyear 17 194,0891 Net assets exchJdr4J penslon labfty 718,124 771.064 Net assets 71&124 771,064 The fvnd5 01 Ihe chryilable trv51 Unresfricted funds- gttnerol UnreslT¢ted funds- designoted 711457 5.667 766.370 4,694 718.124 771.064 The compony u enltlled to Ihe exerrwthon frotn the QLJdtl requremenl contawEd n Section 477 of the Companies Acl 2006, for the yEor ended 31 Decwrtjer 2023. The directors ocknONedge their responsblrlE5 lor Cr&pig .h the requyemenls ol Ihe Componies Act 2CK)6 vdth respect lo tsccounting recorth and the preparalion of frrfJncKJI 5t(rtements. Th8 members have not T8quired lh8 coryjany to oblcm on oucrrt of its fmoncol strotemenls for the year kn queslion In occordonce wth seclic>n 476. These fincjnciol statem8nts hcjve been epOled occordonce wih IhE provin5 opplcabFe Io COJTpanies subiecl lo the smll componies regkne. The financial slalement5 were Op0ved by the truslees on September24 Mr H K McColK)m Tee Ccm)ony rtgistration nvmbei07133411 IEn*Jnd and WdE51
KINGDOM ADVANCE NETWORK NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Accounthw p¢1 Chawly Informolion Kingdorm Advonce Nelwork a private c¢xnpany knit¢d by gjcranlee itKorporaled n Ennd ond Wales. The regtered 0ce KAN. HiTh% Lone. Burt on Trertl. DE14 IE l.l Accounting convenllon The finoreiol stotemenls have been prepored n accor(Jnce the Charitab tnJsY5 tgov8ming dUManI], the Componie5 Act 21YJ6. FRS 102 Yhe financkil R8POrting Stonckjrd apPrable in the UK ond Republic of treland" I'FRS 102,1 and the Chorilts SORP "Accounlro ond Report) by Chorit1è5". Stotemenl of R&comtYÉnded Pruclpce apprabl lo Char5 pr=pamg th COUr11S r. accordance wth the Finon¢iol Reporting Stondard apprae the UK Republc of kebnd IFRS I(Y21 leffeclNti l January 20191. Thtt charituble trust is o Public Benefft Entrfy 0$ ere by F4S I2. The choiltoble Iru5F hu5 token odvanlage of the provis$ n Ihe SORP fu choritigs not lo prepore o Statement of C(x%h Iow5. The financvjl statements aTe pYep(wed n st8rfng. whh ts th& funclionol currency Df Ihe chari10b trust. Monetary amounts Ihes8 finGncl stalem8nls or& rthnded to Ihe neoreO The finoncial 5toteTnent5 hove been Fxer>ared under hill¢01 Cost convention, Imodffied lo include the revaknalion of fr88holc yoperliÈs and lo nckKIE tnve51rrEnt pioperrE5 ond certain fnoncial Irmen15 ot fair vakjel. The printipol occountng polces odopted ore set out below. la Goingeoncem At the time of opprovng the financ[ slalements, the Irusiees hove o reosonoble olpectatior) that the charftable trust hos adequote resoLKces lo conlinve ) openfionol exslence Fhe loreseeoble future. Thus the truste¢s continue to odopt Ihe going concwn l)oys of0cc0vnlg in prepg the financi statements. 1.3 Ch(vAoble lunds Unreslricted fund5 ore ovoki f(1 Vse ol ma clscretion of Ihe tW51ees furtherance of thr charitable objectpie$. Restricted fund5 ore sut4ect to specfft concfdTrons by ()r.Ix5 (K as to how they may be used. The purpose5 ond uses ol the Ne51ticted fvnck ate sel out li Ihe n?ies to the frnncial statements. Endovment frjnds 0 subject to specific ¢liOnS by don(x5 that Ihe ccjprfal musl intained by the chorrloble ttU5t. IA Income Income recognBed when the Ch£Vitob trvsl entitkd lo il afrFer ony perfoanCe t0nrfrtn$ hove been mtrt, the arrJnIS con be mea5ufed fefkibty, ond it is proboue thot income wl be recewed. Cash donalK)ns are recogri5ed on recept. Olher donalS ore reccwised once the chorituble tru51 has bee rK>lrfk8d al the donatlon. unS pertrnce con(rrtKJns requre dèlerrol of the om(yJnt. hcoffle li recoverable in rdation lo donutn9 received under Grn Akl dee¢Js of covenonl reCOgned al the lime ol th& don¢ytion. Legacie5 ore recoed on recepl u 01hee if Ihe charilae Iw5t trK]s been rlIfied of an imp8ncfi cjislribution. the amount is known. and receipt LE wte<L Ir Ihe anUnt is known, the legocy IreateL105 a conthngent asset 10-
KINGDOM ADVANCE NETWORK
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
A¢¢ourtlny polkles
IContrNed)
i.s ExpentShwe
Ewendilure is recognised onc& there is o 01 u conslructwe to Iron5fer econoTTNC benefit to a thd
party. it is probtsblè Ihol o transfer of economt beneffts be rèqvyed n SettMent. and th¢ anUnt of the
obrallOn con be mea5wed ref]b.
Expenditure is clossrfed by othty. The c0515 of each actlty are mark up of the tolol of drèct ¢05ts ond
shared cost$. inclLT(ting support C051s nv0 undertakng each octmty. txrect costs atlthuloble lo o slngle
actmty ore ollocated drectW lo thcjt odNity. Shored cosls whch contribvie lo more Ihon one activty and
5UPPOrt co5 which are not attrbul0b to o Sing oclmly are opp(xkK)ned befv488n those activiti85 on a basi
consistent wtlh the use of re50urc&s. Central st(Jff costs cxe a0?d on the bosts of time $penl, and
depreciation charges are alocated on the poion ofth& asset's use.
1.6 Tan¥ble a55ets
Tongble fixed a55et5 are [110 measLKed ol cost ond subsequenty ffeosured al cosl or vohJatlon, nel ol
depreciation ¢Jnd apy iryjormenl k)Mes.
DEprecvJlion recognsed so as lo wit¢ off the cost OE vdualion ol osse1s $$ thetr reskluol values over the
useful I5 on the followng bo$es=
FTe¢hokl knnd ond bulk9$
Plant and equipment
FNtwes ond frtlings
l% Reducing bok]nce
10 or 3YX Recljcing boknnce
33J or IO% Reducng kAnc9
ffte gcin or Ios5 arising on the disp0501 of an asset ts determined as the cfjfFerence between the sole procetrds
ond the corlwng v
KINGDOM ADVANCE NETWORK NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Aecovn15ng pollcle¥ Iconlinued) Basic linanciol Ic1b¥rtS, nchjcfing crethS ond bank bon5 are n[lia recogni%ed at Iran50Ction price unl5 the Offongement corntitutes o ana9 Irans(JCfIn, %th¢r¢ th? debt MWnJtYent is meosured ot the prese4t vakje of the futurp payments dcOUn1ed aj o [rrket role ol tereSt. latxlthes classffEd as pC]yUb within ono yeor ore not omlse(l. Debt instruments are subs8quenty carrfed al an1ed cost. uslng Ihe effective intertrstr role method. Trade crediton% ore obfKJatK)n5 to p(ry IOT good5 or Ser that have acqutr n the orcfnary course ol OP8Tations from suppliefs. AnnIS p0y0e 0 ck)$5if¢d 0$ evnI [brtieS if payment ES due within one yeor or less. ff nol, they ore wesented a5 fTofi-cuTrent IotXTh. Trode uedrlors ore recogni58d nitioly ol tronsoction price ond subseqvenlly rr.ea5dred ut arnortised cosl us1 lh8 8VecfvÈ nteresl melhod. Derecognjylon clfinuncknlffubllll•s fnoncial liobilities ore derectsgnised vknen Ihe chaitlokAe tru51'5 contractual obgat)nS ewre £x are dischar98d or concelled. 1.10 Employee benelt15 The c05t of ony unused hoSdoy entitlement 15 reCOgned r) pericxj in wlych the enployee'5 services (xe reced. Temiinallon benefi15 e recogni5ed in¥n8dioF8ty a5 an eyperLse Nthen th& Chc)lob trusl Is demonstro commtited to terminate the eryjbwment of on etrpk)yee orto provKle terrthallon beneffl5. the appfration of Ihe choritable Irus1'5 ijccovnting pokEs, the tW5tees are Tequired to mke ludgemenl5, edlmotes ond 05sUmPtN3 aboul the ccwrwng arrK)unl ol assets and l.'olyllies thot ar¢ not reodly opporent from ofher 50uices. The ?s111 only ussoooted (wvmp?lons ¢ye b05ed on hfOrOI experience and other factors thal are conSered to be relev01. AcIL]I resuWs rTWJY dttlertrom these e5twwle5. Ihe estimole5 and Jndetyng 055umptKWLS ore r8vi8wed on an ongcmng b05f5. RpvisK>n5 lo occounting e51imates are recognised in th8 peritKJ n vthich the eslimole S ievsed ere the ieNi5iLY) aHtrc15 onty Ihal period, or in the PeriCKI ol the revtsion fulure peS there Ihe revNon aTfects both currenF ond lulure pe0d5. Told Urnestricted UMestri¢ted ldS lund5 general deSted Total 9enwd de¥l9ned Donollons ond gffts 27l,tQ7 278.951 fd7,618 TO,S)5 248,123 Donollons QIKI glls Appcots and donotions Gjtt old tox re¢k)im Fees and supplps 221.127 49,011 949 228.991 49.011 949 213,155 22,114 2349 221.$60 24.214 2349 zi(x) 27].(7 278.951 237,618 10, 248.123 12-
KINGDOM ADVANCE NETWORK NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 kncomelrom donotlonsivJ gae¥ (CeInued) Te Uryeslrlcted Ue11rfCled geneml deslwoled 2022 2tr23 2tr23 Grunls receIV¢ ts ctye uctiv•¥¢s Income from ch71Fthe fXtx¥ UrneslrKled fvnds 2023 Umeslrkled Ivnds 2022 Income Ba0hOp and Cirfe Chariltsbb rental incom 29.136 8,378 27,249 8.198 37.S14 .447 Incomelrom Inve51ments UrYe51rfded Unre5fricted lunds furK15 2tr22 Inl8rest receivoble 3,010 -13-
KINGDOM ADVANCE NEfwoRK NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 EenlUTe on Clable ¢xtk¥•es Expendlure Expendmwe 2022 OtrecFcosts stoff co$ Depreciatk?n ond p01rnI Establhmnt cosls Repoirs ond muintenonce Office expen5e5 Printing, postoge ond 01)no Subscrption5 ond donotion8 Sup.(ty and other cos15 Motor expenses Adverttsing ond pr¢)motK)n Legal rjnd profesyonol costs Bookshop stock Cafe stock Grdng OLrt 159J66 17,319 18.6S3 10.192 io. 731,839 19,959 14,865 5,136 9,537 812 317 14,199 22.379 487 7,241 3,127 30.672 7.715 3,117 40.1 3)0,317 239,893 Share ot 5UPPOrt and 9•m¢e ¢Mts (see Th)le 7) Supp(*t Governoe 10,784 1,314 8.0( 1,194 312,415 249.087 Ana&$ bylund Unre5tiicled fund5- generd Unieslrfeled fund5- d8signated 301845 9.570 239,150 9.937 312,415 249.087 pptsrl co$15 aNocoled lo acttvllles Licence5 and subscriptK)ns Bonk chge$ Mgage intergst ond c45P05oI cos15 Govemance costs 3.413 1,9 3,146 1.919 2,935 1,194 1,314 i.(8 9,194 Anatysed belween: EwerKJtlure 12,(F8 9.194 -14-
KINGDOM ADVANCE NETWORK NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Net movemenl inlunds 2023 2022 The nel nJ)vemenl Y) fijnds i5 rt(rted uHer ch(wggI1CrelStg?. Depre00fn of rned langble fixed 05sets L0$5 on d5POsd of tawTri )18 fLKed assets 17.319 ).oc() 19.959 Trvslees None of Ihe trust88s lor uny persons trne¢led with Iheml CeNed L)ny remuneTalK)n or ber)¢rrts from the charitable trust dvring tho yec¥, other tt)on Mr A K 5rTilh. Rev S Wcrt50n and Rev J Watson who rÈceive o smtsl 5olory from the chorify. 10 Empbyéès The average rr)nth nuber of empk)yee5 (knru the ye¢Jwa5'. Nnber mLber Empwnent co Wage5 and sokirEs 159.366 131.839 There weie no tse annual rerrKmeratrfJn rkve Ihon £60,IXK). ReMeaN0n of key m<•Kgen*nl The remuner(rtK)n of key rnarKJgemenl personnelwos 0s1k>. her expendmwe Unrethcted Unr•strleted lunds funds Netloss on rfL8posal of longlse red assefs 60.(MX) 12 Toxollon The ch¢Jrity i% exempt frC toxotk)n on ils ocl(vtkn because Ihl its i% upplled for cholllob18 purpose5. 15-
KINGDOM ADVANCE NETWORK NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 13 Tangible Itxed assels Tolul At l Janvcry Adrfrtsons Dpos0 751.584 120A39 2.92) 162.039 10.570 1.034,062 15.IY22 12S).WOI I.[K>) At 31 DecembeY2m 3.116 123159 172.609 Deprecl(rllon and Impr*ment At l January l)23 Depreciotion ch£Tged in the year Eknlnoled in respect of thp0501% 93,747 5,923 ICP,062 6,365 5.031 I32,5) 17,319 Ill5001 At 31 December223 SJ,751 99,670 115,427 265.848 CThrylng am¢yml Al 31 oererrnber223 451365 57.182 Al 31 December2Y22 673,365 26,693 5Z978 753.036 14 Stocks 2023 2022 stock 7,0 15 Loan5 und over(tr¢ths 2Q22 Bonk loons 110.889 Puyable wrlhin onè year Payoble after one ye(y 16,800 94.089 16-
KINGDOM ADVANCE NETWORK NOTES TO THE FINANCIAL STATEMENfs {CONTINUED} FOR THE YEAR ENDED 31 DECEMBER 2023 16 CiedID amourtslallng wlhkn one ye(T 2023 Notès Bank loons AccDJols and ¢Jeferred nc0 15 16, 18,(XJO 17 Ciedlfvrs: qmounls due dlerrnore Ihan a)ne yegv 21YA2 Bunk loans 15 94,(W9 18 R•laled paty trmaC110nS There were nts dk}sable rek]t pcrtytronsoctions durfng the yeor (J)22- nollel. 17-