Registered Charity number: 1135272 KENSINGTON BAPTIST CHURCH Trustees, Report and Accounts for the year ended 31 March 2024
KENSINGTON BAPTIST CHURCH CONTENTS Page Reference a nd Administrative Details of the Charlty. its Trustees and Advisers Trustees, Annual Report Independent Examiner's Report statement of Financial Activities io Balance Sheet li Statement of Cash Flows 12 Notes to the Accounts 13-22
Trustee FIEC Ltd Managing Trustees Elders: A Oldfield P Dyer S Heap J Morrison F Ogunniyi S Price A Thomas S Woods Deacons: A Andrew G Andrews P Dodson J Elms J Karanja J Hampson P Hodges A Howlett Charity registered number 1135272 Registered office Kensington Baptist Church 208 Stapleton Road Easton Bristol BS5 ONX Independent examlner Roberta Sunderland ACMA 50 Guest Avenue Bristol BS15 7GA Bankers HSBC Bank plc 62 George White Street Bristol BS13BA
KENSINGTON BAPTIST CHURCH TRUSTEES, ANNUAL REPORT For the year ended 31 Morch 2024 The Trustees present their annual report together with the independently examined accounts of Kensington Baptist Church I the Charity") for the year ended 31 March 2023. The Trustees confirm that the annual report and accounts of the Charity comply with the current statutory requirements, the requirements of the Charity's governing document and Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the U K and Republic of Ireland IFRS 1021 (effective l January 2015). Purpose. objectives and artivities Kensington Baptist Church was constituted as a trust in 1887. The objective of the church is to worship and glorify God, and to make Jesus Christ known by preaching, teaching and reaching, and through sha ring and caring. In Setting objectives and planning activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit and in particular to its supplementary public benefit guidance on The Advancement of Religion for the Public Benefit. Achievements and performance Congregation A number of newcomers from a range of backgrounds and cultures have been regularly attending KBC over the past year We have refreshed our Welcome Teams and received feedback that KBC is a very welcomin8 church. There have been nine baptisms over the past year Four Membershlp Information sessions have been held this year providing the opportunity to raise awareness to newcomers of the purpose and value of formal membership of the Church. Community Engagement The Community Café has continued to run each Saturday from 12.1)0-2.00pm welcoming people in from the local community to share conversation. food and hot drinks. Some of our visitors have returned to join us for a Sunday morninE service. We joined with Eastside CommunityTru5t IECTI during the 5ummerfor a community day, holding various activities both inside and outside the building, encouraging people to join together in building community cohesion. At the E annual general meeting one of our members was presented with a 'Thank You" award for setting up the Community Cafe. Our building has been used by a local health organizotion to run community health events which have proved to be very popular for raising awareness and providing information about different health topics.
KENSINGTON BAPTIST CHURCH TRUSTEES, ANNUAL REPORT {continued) For the year ended 31 March 2024 Achievements and performance (continued) Community Engagement (contj Local primary schools have engaged with us again this year, visiting our older people's Day Centre to enjov food together, hearing some church history and learning what happens in the church on a Sunday. The KBC Puppet Team also visited these schools to share their Christmas performance with pupils. Weekly sessions of Rainbow Tots continue for pre-school children. who come to enjoy different activities, a snack, singing a nd a Bible story. Helping the disodvantaged This year the Community Cafe ha5 welcomed many more people experiencing homeles5ne55, mental health challenges and some who are living with drug and alcohol dependencies than in its first year. This presents US with cha51enges about how best to support those with such specific issues in the context of the Café and how to balance this with a welcome for "all" Our pre-service Sunday morning tea and toast has been enjoyed by some regular attendees of the Saturday Community Café who would not otherwise have breakfast. The harvest offerln8 was split this year between the KBC Pastoral Care Fund to support those who are particularly needy in the church congregation and support for the victims of a recent earthquake. A supply of clothing; joggers, hoodies, socks, hats etc was purchased to be made available for people experiencing extreme circumstances, including homelessness. This has proved to be invaluable. Generous and regular donations for the local Food Bank of non perishable food items have continued over the year, FlnancS3l and practical support has continued through our Pastoral Care Team and Fund to those from the Church and in the community according to need. Christmas Hamper5 were again distributed to those in particular need. Our Christmas Gift Service saw numerou5 donations from the congregation to support the work of two local charities and for our Kensington workers in Weston-super-mare who work with a very needy community. Church Community Our regular Su nday lunch event, "Easton Eats" has continued this year over 18 events, serving approximately 170 meals on each occasion. During the summer months this has moved to a shared picnic in a local park Iwe3ther permittingl. These events provide a real opportunity to spend time together and have been particularly valuable for those who are new to the church. A second Festive Food event was held in early December for 40 people, where people shared in an evening where dishes eaten at Christmas from three different countries, Poland, Egypt and America were demonstrated and sampled.
KENSINGTON BAPTIST CHURCH TRUSTEES, ANNUAL REPORT (continued) For the year ended 31 March 2024 Achievements and performance {continued) Church Comnpunity {cont) Members enjoyed a biannual Hospitality Month. held in November 2023 and March 2024. organizing events and inviting others to attend. In addition to these events and Easton Eats, members were encouraged to host "hospitality at home" as a further means of getting to know each other better. Our Youth Group enjoyed a weekend away, as did our older children on a separate occasion, both spending time learning more about the Bible and its teaching, participating in various activities and having lot5 of fun with their peers. Durlng the school summer holiday a weekly opportunity, "Summer Space" was held. This was to provide a space to the parents of pre-school and primary aged children who mlght stru88le with the long school holidays, and to adults who would appreciate somewhere to meet others. 32 adults and 35 children attended. The August bank holiday weekend saw over a hundred church members and congregation travelling to Wales for a church holiday to enjoy 3 time of worship, fellowship and fun together. Changes The new approach to serving across the different ministries has been implemented so that wherever possible KBC members and congregation only serve in one ministry on a Sunday with the aim of ensuring that people aren't overstretched by doing too much. Two Ministry Apprentices joined us in September for the academic year. Integrated into the staff tea m, their time at KBC combined theological training with ministry experience and serving opportunities. A new model for improving and providing pastoral care within the church was brought to members. Pastoral care was highlighted as a responsibility for everyone; bein8 intentional, and including physical as well as spiritual needs. A team of six members has been established with the members representing the wider teams that span the whole KBC family. Troining Over the year, four child safeguarding training sessions, for those new to children's and youth work and those needing an update, were organi5ed with 39 people being trained in this important area. An invitation only seminar addressing pregnancy1055 was held to help enable individuals and the church to be equipped and encouraged to bring gospel hope to those who have experienced miscarriage or stillbirth. 21 people attended this informative and helpful event. During October 2023, the South West Gospel Partnership ISWGPI held a men's convention and in March 2024 the SWGP Women's convention was held with a number from Kensington attending both events. In November, staff attended the annual Leaders. FIEC conference with plenary talks and main session seminars covering justice in God. justice in God's people. and justice in God's world.
KENSINGTON BAPTIST CHURCH TRUSTEES, ANNUAL REPORT (continued) For the year ended 31 March 2024 Achlevements and performance (continued) Troining (cont) Throughout the year KBC has been involved in supporting students who are studying with Crosslands Training through mentoring and tutoring groups of students. This programme aims to Eive students a good understanding of key theological concepts along with their pastoral and missional implications. being equipped to lead other5 in the Christian lrfe. Financial review Kensington 8aptlst Church received unrestricted income which amounted to £318,748 for the year ended 31 March 202412022123: £356,559). Restricted income for the year amounted to £63,39412022123 £43,761). Unrestricted expenditure amounted to £292.026 12022123: £367,822). Restricted expenditure amounted to £93,44912022123- £146,197). The net movement in funds for the year amounted to an outflow of £3,333 12022123., £113,669 oufflowl. The operational outturn was a surplus of £44.000 reduced to £39,300 after £4,700 was moved to Designated Fund for future Maintenance and Equipment costs.The original budget set was a deficit of £12,500 so the outturn represented a considerable improvement of £51,800.Extremely generou5 giving both one off and regular ammounted to approximately £44,OCrfJ and reduced costs of over £7,000,mainly energy p contributed the balance Reserves pollcy and going concern Kensington Baptist Church has a reserves policy that specifies that the Charity must maintain minimum General reserves of £50.CM)O. The general fund cash reserye at 31 March 2024 was £160,000 {2022123.' £118,200). The Charity's reserves during the fsnancial year were therefore maintained at a level above the policy's mi nimum requirement. Plans for the future Kensington Baptist Church intends to continue to pursue its objective as stated above. As detailed above reserves are now above the minimum requirement. The budget for 2024-25 wa5 set at a breakeven. Looking ahead to future years potential deficit budgets are anticipated and clearly the current strong level of reserves will be used to help fund those def icits.Trustees will be bringing forward proposals on the potential use of General Reserve5 in due course
KENSINGTON BAPTIST CHURCH TRUSTEES, ANNUAL REPORT {continued) For the year ended 31 March 2024 Strutture, governance and management Constitution Kensington Baptist Church is a registered charity (No. 1135272). registered in England and Wales. The Charity is governed by its Church Constitution. Method of appointment or election of trustees FIEC Ltd is the sole trustee of Kensington Baptist church. The church's appointed elders and deacons are the Managing Trustees of the Charity- Managing Trustees are selected based on their membership and position within the church and are elected by a majority vote of those present at a Members, Meeting.166% for Elders and 60% Deacons.) Elders are elected for an indefinite period and Deacons for 3 3 year period. Organisatlonal strurture and decision maklng The aim is for 6 full Trustee meetings a year where the magority of decisions are made in regard to running the charity.ln addition Elders and Deacons meet seperately on a monthly basis with further combined meetings as necessary.Other sub groups such as Finance, Compliance, Technology etc meet regularly and report to the Trustees.There are also 6 Members meeting a year whose agenda is set by the Trustees and where certain agenda items are voted on. Related parties and co-operation with other organisations CertaSn of the Managlng Trustees recelve remuneratlon or other beneflt by virtue of theSr employment by Kensington Baptist Church. Managing Trustees are required to disclose to the other Trustees all relevant connections and interests in the same way as any other contractual relationship with a related party. During the year no such related party transactions were reported save for the Managing Trustees, common interest as members of Kensington Baptist Church. Key management personnel The Managing Trustees consider that the key management personnel of the Charity comprise the Senior Pastor , Assistant Pastor and 6 lay Elders. All Managing Trustees give of their time freely and no trustee received remuneration as a Managing Trustees in the year. Details of Managing Trustee expenses and related party transactions are disclosed in Note 4 to the accounts. Volunteers The Charity relies on voluntary help from members of Kensington Baptist Church to fulfil many of it5 key roles and in providing administrative and other practical 5UPPOrt to the church. With the exception of 2 of the Managing Trustees, all other roles were fulfilled by volunteers during the year. The pay of staff 15 reviewed annually and normally increased in line with the Consumer Price Index.
KENSINGTON BAPTIST CHURCH TRUSTEES, ANNUAL REPORT (continued) For the year ended 31 Morch 2024 Structure. govemance and management (¢ontinued) Rlsk management . The Trustees have a risk management strategy which comprises: an annual revlew of the princlpal risks and uncertaintles that the Charity faces; the establishment of policies, systems and procedures to mitigate those identified risks; and the implementation of procedures designed to minimlse or manage any potential impact on the C The risk management review has identified that financ5al sustainability Is the major financial rlsk for the Charity. A key element In the management of financlal rlsk is the regular review of reseNes and the avallability of Ilouid funds to settle debts as they fall due. [The church currently h85 a good level of unrestrlcted resenies whlch mitigates this rlsk in the medium term.1 Attention Is also given to non-financlal risks Includin8 governance and operatlonal risks, external and environmental risks and compllance with law and re8ulations. The risk management revlew has identified safe recrultment,training and regular monitorin8 of all ChIldn,$ and Youth workers and those working with adults where safeguardln8 is applicable. Trustees, responslbllltles statement The trustees are responslble for preparln8 a trustees, annual report and accounts in accordance with applicable law and Unlted Kingdom Accounting Standards (United Kingdom Generally Accepted Accountin8 The Trustees are requlred to prepare accounts for each year vthich glve a twe and falr view of the state of affairs of the charlty and of the incomin8 resources and applicatlon of resources, Includlng the Income and expendlture, of the charity for that perlod. In preparin8 these flnanclal statements, the Trustees are required to.. select suitable accountiri8 policies and then apply them consistently; obsenie the methods and prlnciples in the Charitles SORP. make judgements and estlmates that are reasonable and prudent; state whether appllcable UK accounting Standards have been followed, subject to any materlal departures dlsclosed and explained in the flnancial statements,. and prepare the Accounts on the goln8 concern basis unless it is inappropriate to presume that the charitable company will continue In operation. The Trustees are responsible for keepin8 proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the accounts comply with the Charitie5 Art 2011. They are also responsible for safeguardin8 the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregulaYitSes. This report was approved by the Trustees and signed on their behalf by.. P Hodges
KENSINGTON BAPTIST CHURCH INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF KENSINGTON BAPTIST CHURCH I report on the accounts of Kensington Bapist Church for the year ended 31 March 2024 which comprise the Statement of Financial Activitie5, the Balance Sheet, the Statement of Cash Flows and the related notes. Respective responsibilities of trustees and examiner The Charity's Trustees are responsible for preparing the Trustee5' Annual Report and the Accounts. The Trustees consider that an audit is not required for thi5 year under Section 144121 of the Charitie5 Act 2011 I'the 2011 Act") and that an independent examination is needed. The Charity's gross income exceeded £250,000 and l am qualified to undertake the examination by being a qualified member of the Chartered Institute of Management Accountants. Having Satisfied myself that the Charity is not subject to audit under company law and is eligible for Independent examination, it Is my responsibility to: examine the financial statements under section 145 of the 2011 Act; follow the procedures laid down in the general Directions given by the Charity Commission under section 145{5llbl of the 2011 Act; and state whether particular matters have come to my attention. This report, including my statement, has been prepared for and only for the Charity's Trustees as a body. Mv work has been undertaken so that I might state to the Charity's Trustees those matters l am required to state to them in an independent examiner's report and for no other purpose. To the fullest extent permitted bv law, I do no accept or assume responsibility to anyone other than the Charity and the Charity's Trustees as a body for my examination work, for this report, or for the statements I have made. Basis of the independent examiner's report My examination was carried out in accordance with the general Oirection given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the financial statements presented with those records. It also include5 consideration of any unusual items or disclosures in the financial statements, and seeking explanations from you as Trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the financial 5taternents present a 'true and fair view, and the report is limited to those matters set out in the statement below.
KENSINGTON BAPTIST CHURCH INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF KENSINGTON BAPTIST CHURCH Independent examlner's statement In connection with mFexamlnation, no matter has cometo my attention: which gives me reasonable cause to believe that in any materlal respect the requirements: to keep accountin8 records in accordance with sertion 130 of the 2011 Act; and to prepare financial statements which accord with the accountin8 records, and comply with the accountlng requlrements of the 2011 Act and with the methods and principles of the Statement of Recommended Practlce: Accounting and Reporting by Charities have not been met,. or to which, in my oplnlon, attention should be drawn In order to enable a proper understandin8 of the flnanclal statements to be reached. ..17.1...i.t..L.Z.*........ Roberta Sunderland ACMA 50 Guest Avenue Brlstol BS16 7GA Oate
KENSINGTON BAPTIST CHURCH STATEMENT OF FINANCIAL ACTIVITIES For the year ended 31 March 2024 Restrirted Unrestrirted funds funds 2,024 2,023 Note Income Donations a nd gifts Income from charitable activities Investment income 63.394 283.328 7.257 28,163 346,722 7,257 28,163 372,039 5,593 22,688 Total income 63,394 318,748 382,142 400,320 Expenditure Expenditure on charitable activities 93,449 292.026 385,475 514,019 Total expenditure 93,449 292,026 385,475 514,OL9 Net income l {expendlturel before transfers 130,0551 26.722 (3,3331 1113,6991 Transfers between funds 12,13 Net income / (expenditure) and net movement in funds for the year 130,0551 26.722 13,3331 1113,6991 Reconclllatlon of funds Total fund5 at the start of the year 12,13 169,813 633,657 803,470 917,169 Total fund5 at the end of the year 14 139,758 660,379 800,137 803,470 The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure relates to continuing activities. io-
KENSINGTON BAPTIST CHURCH BALANCE SHEET As at 31 March 2024 31 March 2024 31 March 2023 Note Flxed assets Tangible fixed assets 493,184 510,462 Current assets Debtors Cash at bank and In hand 11,208 304,765 6,087 292,883 315,973 298.970 Credltors Amounts falling due within one year Net Current assets io {9,020) 15,962} 306.953 293.008 Total assets less current Ilabllltles 800,137 803,470 Credltors: Amounts falllng due after more than one year 11 Net assets 8,137 803,470 Charlty funds Restrlcted funds Unrestrlcted funds 12 13 139,758 660,379 169,813 633,657 800,137 803,470 The financial statements were approved by the Trustees and signed on their behalf by: P Hodges Date li-
KENSINGTON BAPTIST CHURCH STATEMENT OF CASH FLOWS For the yeur ended 31 March 2024 2.024 2,024 2,023 2,023 Cash flow from operatinE activities Net movement in funds 13,3331 1113,6991 Add.. Depreciation of tangible assets Less: Interest (included in investing activities) Decrease / lincreasel in debtors Increase I Idecreasel in creditors 17.278 14,7061 15,121) 3,058 17,278 11,6921 607 2,052 10.509 18,245 Net cash {oufflow) / Inflow from operating activitles 7,176 195,4541 Cash flows from Investing activities Interest received 4,706 1,692 Net cash inflow / {oufflow) from investlng actlvities 4,706 1,692 Cash flows from financing activltles Increased Irepayment of borrowing (net) Net cash inflow l (outflow) from financing activltles 1500) 1500) Net ¢han8e in cash and cash equivalents Cash and cash equivalents at the start of the year 11,882 194,2621 292,883 387,145 Cash and cash equlvalents at the end of the year 304,765 292,883 -12-
KENSINGTON BAPTIST CHURCH NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2024 Accountlng policies 1.1 Basis of preparation The accounts have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice 3pplicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Repu blic of Ireland IFRS 1021 (effective l January 20151 - (Charities SORP {FRS 10211, the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 and the Companies Act 2006. Kensington Baptist Church meets the definition of a public benefit entity under FRS102 Going concern basi5 of preporotion After reviewing th¢ Charity's forecasts and projertions. the Trustees have a reasonable expectation that the Charity has adequate resource5 to continue in operational existence for the foreseeable future. The Charity therefore continues to adopt the going concern basi5 in preparing its accounts. 1.2 Charity Status Legal status The Charity was constituted as a trust in 1887. It has no share capital and it has one member Trustee as named on page l of these accounts. In the event of the Charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the Charity. At 31 March 2024 there was I member12022123: 1). Taxation Kensington Baptist Church is registered with the Charity Commission as a charity and its main activities are exempt from taxation in accordance with the Corporation Tax Act 2010. -13-
KENSINGTON BAPTIST CHURCH NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2024 Accounting policies (continued) 1.3 Income Income is recognised in the Statement of Financial Activities when the Charity has entitlement to the funds and it is probable that the income will be received and the amount can be measured reliably. Planned giving receivable under Gift Aid is recognised only when received. income tax recoverable on Gift Aid donations is recognised when the income is reco8nised. In accordance with the Charities SORP {FRS 102), the contribution made by unpaid volunteers to the Charity is not recognised as income in the accounts. A description of the role played by volunteers and the nature of their contribution is provided in Note 5 to the accounts. 1.4 Deferred income Income received in advance is deferred in the Balance Sheet until the criteria for income recognition is met, at which point the income is recognised in the Statement of Financi31 Activities. 1,5 Fund accounting U nrestricted funds are available to spend on activities that further any of the purposes of the Charity. Restricted fund5 are donations which the donor has specified are to be 501ely Used for particular areas of the Charity's work or for specific projects being undertaken by the Charity. 1.6 Expendlture and Irrecoverable VAT Expenditure is recognised once there is a legal or constructive obligation to make payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure on charitable activities comprises direct charitable expenditure. administrative costs and premises costs incurred by Kensington Baptist Church. Irrecoverable VAT is charged a5 a cost against the activity for which the expenditure was incurred. -14-
KENSINGTON BAPTIST CHURCH NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2024 Accounting policies Icontinuedl 1.7 Tangible fixed assets Tangible fixed assets are measured at C05t le55 accumulated depreciation and any accumulated impairment losses. Depreciation is calculated to write down the cost less estimated residual value of all tangible fixed assets over their expected useful lives, using the straight-line method. The rates applicable are- Freehold buildings Property improvements Fixtures and fittings 2% per annum 2% per annum IO% per annum Freehold land and buildings are held at valuation determined by the Trustees on 6 April 1995. Property improvements relate to building costs incurred during building refurbishment projects. Depreciation has been provided from the date of completion of each project. The property is reviewed for impairment, in accordance with Section 27 of FRS 102, at the end of each accounting period. 1.8 Debtors Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of trade discounts due. 1.9 Cash at bank and In hand Cash at bank and in hand includes cash and short term highly liquid investments with a short rnaturity of three months or less from the date of acqvisition or opening of the deposit or similar account. 1.10 Creditors Creditors are recoEnised where the Charity has a present obligation resulti ng from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors are normally recognised at their settlement amount after allowing for any trade discounts due. 1.11 Forei8n currency translation The functional and presentation currency of the Charity is Sterling 1£). Transactions in foreign currencies are translated into Sterling at the rate ruling on the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated into Sterling at the rate of exchange prevailing on the balance sheet date. Exchange differences are recognised in the Statement of Financial Activities in the period in which they arise. -15-
KENSINGTON BAPTIST CHURCH NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2024 Pension costs Contributions to defined pension contribution plans on behalf of employees are recognised as an expense in the Statement of Financial Activitie5 in the period in which they are incurred. Restricted Unrestrirted funds funds 2,024 2,023 Donations and gifts 63,394 283,328 346,722 372,039 Income from church artivities Sundrylncome 1.967 5,290 1,967 5,290 1,689 3,904 7,257 7,257 5,593 Rental income 23,457 4,706 23,457 4,706 20,996 1,692 Interest received 28,163 28,163 22,688 63,394 318,748 382,142 400,320 2.024 IOOYO 2,023 loo% United Kingdom Europe Rest of the World -16-
KENSINGTON BAPTIST CHURCH NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2024 Expenditure Restrlrted Unrestricted funds funds 2,024 2,023 Expendlture on charitable activities Direct charitable expenditure Administrative costs 93,449 54,645 176,288 61,093 148,094 176,288 61,093 232,221 204,250 77,548 Premlses costs Total expenditure 93,449 292,026 385,475 514,019 In 2022123 expenditure of £367822 was attributable to unrestricted funds and £146,197 was attributable to restricted funds. Net income / (expenditure) is stated after charging". 2,024 2,023 Depreciation 17,278 17,278 a) Analysis of direct charitable expenditure Restricted Unrestrirted funds funds 2,024 2,023 Missionary support Children's and youth work Other activities 43,000 3,838 7,807 43,000 3,838 101,256 60,130 3,544 168,547 93,449 93.449 54,645 148,094 232,221 In 2022123 direct charitable expenditure of £86.024 was attributable to unrestricted funds and £146,197 was attributable to restricted funds. 17-
KENSINGTON BAPTIST CHURCH NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2024 Expenditure (contlnuedl b) Anatysis of administrative c05t5 Restricted Unrestricted funds funds 2,024 2,023 Printing, copying and computing Telephone FIEC & Other subscriptions Miscellaneous costs & Legary transfer Covid costs Staff costs Visltors and training costs Fuel and subsistence Mlnibus servlcing & repalr Minibus tax and insurance 7,205 1.365 5.860 5,165 7,205 1,365 5,860 5,165 7,339 2,001 5.536 3,741 135,334 20,730 629 135,334 20,730 629 166,865 18,161 607 176,288 176,288 204,250 In 2022/23 all of the administrative costs were attributable to unrestricted funds. c) Analysls of premlses costs Restricted Unrestricted funds funds 2,024 2,023 Property repairs and upkeep Insurance 16,970 6,123 20,722 17,278 16,970 6,123 20,722 17,278 20,168 4,855 7,079 17,728 Light, heat and water Depreciation 61,093 61,093 49,830 In 2022123 all of the premises costs were attributable to unrestricted funds. -18-
KENSINGTON BAPTIST CHURCH NOTES TO THE FINANCIAL STATEMENTS For the yeor ended 31 March 2024 Staff cost5, trustee remuneration and expenses, and the cost of key management personnel Staff costs d uring the year were as follows: 2,024 2,023 Salaries and wages Social security costs Pension costs 123,062 5,928 6,344 149,732 9,116 8,017 135,334 166,865 No employees had employee benefit5 in excess of E60,OCNJ12022/23: nill. No Trustee recelved any remuneration from the Charity for their services during the year12022123', £nill neither were they reimbursed expenses during the year12022123.' £nill. The key management personnel of the Charity comprise S.Price{Senior Pastorl,J.Morrison (Assita nt Pastor I, P Dyer,S Heap, A Oldfield,A Thomas , S Woods F Ogunniyi ILay Elders}The total employee benefits of the key management personnel of the Charity was £76,984 {2022/23: £113,266) Staff numbers The average monthly number of employees duringthe year was as follows.. 2,024 No. 2,023 No. Full-time staff Part-time staff I n addition to its employees, the Charity received regular voluntary help from members of Kensington Bapt15t Church which amounted to an additional 15 Full Time Equivalent staff during the year 12022123.. 15) Pension commitments Kensington Baptist Church makes defined pension contributions on behalf of eligible employees. The assets of the scheme are administered by an independent pensions provider. Pension payments, recognised as charitable expenditure within sUPPOrt costs during the year amounted to £6.344 12022123- £8,017). 19-
KENSINGTON BAPTIST CHURCH NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2024 Tangible fixed assets Property Improvements Freehold Fixtures & fittlngs buildings Total Cost At l April 2023 Additions 809,429 50,OC(J 178,488 1,037,917 Disposals At 31 March 2024 809,429 50,000 178,488 1,037,917 Depreciation Al l April 2023 Charge for the year On disposals 321,777 16,188 28,000 1,000 177,678 90 527.455 17,278 At 31 March 2024 337,965 29,CK)O 177,768 544,733 Net book value At 31 March 2024 471,464 21,000 720 493,184 At 31 March 2023 487,652 22.000 810 510,462 Debtors 2,024 2,023 Other debtors 3,668 7,540 1,950 4,137 Income tay recoverable 11,208 6,087 Cash at bank and in hand 2,024 2,023 Cash on short term deposit Cash at bank and in hand 205.546 99,219 205,000 87,883 304,765 292,883 -20-
KENSINGTON BAPTIST CHURCH NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2024 Cash at bank and in hand (continued) Cash on short term deposit of £205,546 relates to investments in the COIF Charities Deposit Fund. managed by CCLA Investments Management Limited, the Virgin Charity Deposit and The Kingdom Bank Gospel Partnership Account. Amounts can be deposited or withdrawn on demand. 10. Creditors: Amounts falling due within one year 2,024 2,023 Other creditors 9,020 5,962 9,020 5,962 11. Creditors: Amounts falling due after more than one year 2,024 2,023 2,024 2,023 Within one year More than one year 9,020 9,020 -21-
KEN51NGTON BAPTIST CHURCH NOTES TO THE FINANCIAL STATEMENTS For the yeor ended 31 March 2024 12. Analysis of movements in restricted funds Brought forward Incoming resources Resources Transfers in / (outl Carried forward expended Specific gifts 169.813 63,394 193,4491 139.758 Restrirted funds 169.813 63.394 193.4491 139,758 Descriptlon of restrlcted funds The specif ic gifts f und represents donations where the donor has expressed a wish that the donation be used for a specific purpose within the church. 13. Analysls of movements in unrestrlcted funds Brought forward Incoming resources Resouices expended Transfers in l {outl Carried fonvard Designated Funds General fund 4,700 14,7001 4,700 655,679 633.657 318.748 1292,0261 Unrestrlcted funds 633,657 318,748 1292,0261 660,379 14 0esl8nated Funds Comprise the followlng Brought fonvard Incoming resources Resources expended Transfers in / lout} Carried forward Property/ Equipment Fund 4,700 4,700 15 Analysis of net assets between funds Restricted Unrestrirted funds funds 2,024 2,023 Tangible fixed assets Debtors Net current assets Long term liabilities 493.184 11.208 155,987 493, 184 11,208 295,745 510,462 6,087 286,921 139,758 139,758 660.379 800,137 803,470 -22-