Charlty regl8tratlon number 1139646 Company reglstsatlon number 07379364 IEn9land and Wa1051 KINGDOM WAY TRUST ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024 Caladine Chortered Certified Accountants
KINGDOM WAY TRUST LEGAL AND ADMINISTRATIVE INFORMATION Trusleos Mr D Barratt MrJCRDale Mr8 H J Herring Mr J D T Herrfng MrWE (Jven Mrs J Sfnith (Appointed 22 April 20241 Secrotery Mr D B8rr8tt Charlty number 1139646 Company number 07379364 Reglst¢rnd offlco Chantry House 22 Upperton Road Eastboume East Su55ex BN21 18F Indèp•ndent 8xamlnor Colin Dadyw811 FCA FCCA OChA Caladine Llmiled Chantry House 22 Upperton Road Easit>ourna Ea81 Su5S8X BN21 18F B*nkfrr• HSBC 94 Temlnus Road E851boume E881 Sus8ex BN213ND
KINGDOM WAY TRUST CONTENTS Pag• Trustees, report statement of tru$legs' resp)nslbllilie$ Indgpendgnt examlnerfs report ststement ol Ilnanclal actlvit108 statsmenl of flnanThal po¥lllon Not•9 to the flnanGial 8lal¢menls
KINGDOM WAY TRUST TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 30 SEPTEMBER 2024 Thè Iruslees present thelr annual report and finandal statements for the year ended 30 September 2024. The financial statements have bèen prepared in accordance wlh the accounts'ng policies set out in note 1 to the ffinancial slalemenls and comply with the charity's MemoTandum and Articles of Association, tho Companies Act 20LK and "Accounting and Reportlng by Charities.. Slalemenl of Recommended Practice applicable lo charities pieparing their accounts in accordance with the Fin8ncial Reporting Standard applicable in the UK arml Republi of Ireland IFRS 1021 leffectlve 1 January 20191" ObJ8Ctlves and actlvbtles The chaTity'8 objécts are.. al To advance the Christian faith in accordance with the stalem8nt of b8liets in such ways and in such parts of the United Kingdom or the worfd as the Trustees m8y from me to lime think fit b) To fvlfil such other purposes which are exclusively charitable acrdIn9 to the law of England and Wales and are conneded wlh the charitable work of the Charity. Vlslon and oblectlv•• Chair of Trustee5- DavSd Barratt A8 we prepare this report lor the year just ended I find il helpful to look back in order that we might Icok forward 10 8 new year ahead. At ils simplest level, th9 aim of is lo help people who are struggling for whatever reason, lo dlscovgr that their lives have value and meaning, and lo Support them with the practical tools needed as part ol their recovery 80 they may lake poslts've Steps forwaTd. l am remlndod of the parable of the lost sheep. The lost sheep In thè story, de8plte slfaying away, Is not abandoned. Instead, the shepherd goes to great lengths to bring il back to the fold. This lesson Iranslats5 into our lives in a profound way. Il's a reminder that even when we stray from our paths or m8ke mistakes, there's always an opportunlly for redemptlgn. This $lory offers profound insights about God's grace and our own personal journeys. 11 teaches us the importance of empathy, compassion, and perseverance. The life lessons erived from this parable are not just spirltual. They 81s0 offer practical guidance for leading a fulfilllng life, overcomin9 obstacles, and finding true happlness. Working with homele55 ané vulnerable people does of course present many challenges, but il also provides for new opportunities to find drfferenl solutions lo often difficult siluallons. This has certainly proven true with our portnership agreements, of working together with our local authority and other agencies. Our emergency accommodation is having a very positive Impact on reducing homelessness locally and providing a fifst step lo the move-on ladder lo more permanent accommodation. We are indeed ever grateful for the honest and transparent relationships with our local government partners that has enabled us lo deliver Our accommodation services to those in nee¢J. Our work can only thrive because of the commilfflent and dedication of our staff and volunteers and SUPPDrter$ in the wider community. This include5 the many churches who support us magnificently and geneiou$ly. We simply say a big thank you to you all but recognise that your motlvation comes from your own faithful COTnmitm¢nl to Go¢ and lo"loving your neighbour... One of our founder members. Brian Arnott resigne(5 his Irusloeship with Kwf on the la51 day of our finonci81 year 130 Sep 241 after serving with since the foundation of the charity in September 2010. Brian's experience and his presence with us wll of course be sadly missed bul we retsin the many allributes of what he has brought to us over the last 14 years.
KINGDOM WAY TRUST TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT} ICONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2024 We are delighted lo welcome Julian Dale as Iruslee from July of this year. Julian has first hand experience of working wlth homeless and vulnerable people in the Community and we look forward lo hls insight and wisdom odding strength lo our board. We 8re extremely grateful to 811 our Iruslees for their dedicatr'on in support of the staff of and in ensuring excellent govemance and overslght of the charity. Achlevements and pèrformance Organlsatson Revlew CEO- Roland Brown Emergency Houslng Following the change lo offeTing a few single roorns as emergency accommodalion In place of the previous commun81 Night Shèllef, we have been able lo establish this as our new way of offerlng Emergency Housing. Durin9 the year, with the hglp of funding from DHLUC (Department of Levellin9-Up. Houslng & Communltyl we were able lo lease two 5.bed properties to offer as short term 8ccommodation for rough sleepers. Wlh 8 dedicated support worker we have been able lo successfully house and sUPPOrt many individuals with the aim ol helping them lind longer-lerm housing within 8 3-monlh pefitxl. In Ihe 9 months we were operational up to the y88r end we housed over 30 people with an average move•on lime of 76 days. During tha year we were allocated addllional funding and are in the process of increasing the capaGity from 10 10 15 b8ds. The 8rldgp We are very thankful that It has been a relatively calm year ot The BrKlge. 11 Is encouraging lo witne85 th8 mutual 5UPPOrt between residents in addition lo the support glven by members of staff. There were 10 people housed and 5UPPOrted during the year, 7 01 whom moved on po811ively lo longer term accgmmodation. Only one couldn't abide sufflclenlly by the requirement we have of not using drugs or alcohol and so was asked to leave. Th8 staff ¢reale a support plan wllh each resident and with good connections with other agencies and organls81ions11 has been very positive lo see residents engaging with training programrne$, volunteer aclivllies and a good number have secured part-timè WOTk. These a51 help them movin9 forward towards a more stable lifestyle. Support has 81s0 been given wllh helping rebuild family relationships and ¢onnections. A number have chosen to explore the Christian faith and participated in local churGh aciivilies. Hope Into Actlon Eastbourne As much as we love 8UPPOrting people in our houses, the aim is always lo see them move on lo longor term accommodation. Typic811y with Hope Into Action, the hope is that tenants move wilhln two years. For families, this is often 8 ¢hallengg. Flnding appropriate houses in the right area and the ri9hl prlce with a landlord who is willing lo lake someone who may not have a guarantor 1$ complicated. We are very thankful that the two familes th81 we were housing were able lo move on during the year. One lo a couneil property Ihe other, who had tsen wilh us for nearly four years, found a place to rent pnvalely. One hoLÈse now has another family In and he other we are planning on using for single lenanls. sharing. In our flats, there is also a challenge lo encourage people lo move-on lo the next stage of their lives. 1115 very easy for them to gel settled in their little flats and the support worker has the task ol trying lo gel them to address whatever Issues they may be facSng. Having said that, there are always signs of hope even with what might be considere(I small steps or minor achievements. Volunteers from 10¢81 chvr¢hes continue lo offer invaluable friendship and support lo each tenant. We have developed a partnership with another local thurch lo support a new house and have Secured investment lo purchase an additional property.
KINGDOM WAY TRUST TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT> {CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2024 Weekend Drop-ln The weekend drop-in continues to provide a warm and safe space for up lo 60 of th& street community on weekends each month. Operating from The Vvay, our IL)wn centre premises, warm refreshments are served and there are activities and conversallon. Our supervistsrs also signpost people lo other local organisations 85 appropriate. W8 are grateful for faithful volunleors who give up their lime al weekends to help provide this service. 11 is a challenge lo maintain the number of volunteers required and although it Is our hope lo open mlire frequently, a shortage of volunteers does not currently allow this. Hop8 Woodwork 11 wa8 8 very challenging year al Hope Woothvoik primarily due to running the Lordship Chairs business. There is no doubl that it generated welcome income, however the work involved in fijlfillin J the orders generated by the website was relentless The high quality nature ol the product limlled the number of people who were able to contribute to the production process. In addillon the adminlslralion, 10gislics and customer gervice resullod in the business dominating the time and energy of the rnanager and key volunteer. Aftor a year of operation it was deaded that the business was not sustainable with our current structure. One option would be lo employ more stsff, bul the additional oxpense would nullify the financial contribution lo the charity. The process was slarted to return the business lo the Bruderhof community who had donated It to u8. The plan Is lo retum lo focus on the core mission of Hope Woodwork, offering trainlng and support which 11 be done al a more central location for the cohort Of people we serve. The plan is lo transfer operations to The Way, which is owned by the charty, thus significantly reducing the overhead of the project. TheTe are a regular numbèr of people attending to receive the training and who benefit from the support offered by our committed team of volunteer8. Sadly we have Seen an increase in the number of people needlng our gUPPOrt, particularly those who are street homeless in Easlboume. We are thankful lor the resources we have 8vallable lo provide housing and 9JPPOrt to pgople who are often vulnerable or marglnalised and have faced or are facing difficult challenges in their lives. Our dedicated team of staff and volunteers offer 5UPPOrt and care lo each individual, molivaled by our Christian faith to serve others and share God's love with them in an approprSate way. Publlc Benefit Through our range ol projects we inler?cl wllh a large numbgf of pèopla who are often vulnerable cf marginali8ed and havè faced or are facing difficult ch8lleng8s in their lives. We strive lo support those th81 engage with us lo enable them to fulfil their potential and live a life with purpose and hope. Our meal provision and drop-in services provide for those who struggle lo meèt their own basic needs. Our residential SLJPPOrted aceommodalion provide safe homes and support to help many overcomo the barriets they face lo living more independently. Our workplace training provides the opportunity for those that want to leam a new skill or becDme more eonfidenl in their life 5ki115 to empower them lo find employment or other meaningful activity. Our involvement ol volunteers in the projects provldes the opportunity for the wder community to contribute to, and learn from. another section of society, hopefvlly leading to beller integration and a brgakdown of stigma towards the homeless and marginalised. The trustees believe that the activities, objectives and vision, as outllned above are in accordare with the Charity Commission requirements for public benefit. Flnanclal rèvlew There was a surplus after transfer8 on unrestricted funds lor the yeaT of £24,875 {2023". surplus of È15.3181, leaving unrestricted reseNes of £1,290.51612023.. £1,265.8411. There was a surplus after transfers on restricted funds for the year of £675 (2023.. deficit of £28,245), leaving restricted funds of £39,03912023.' £38,364) at the balance sheet date.
KINGDOM WAY TRUST TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2024 Reserrfos pollcy It is the poli¢y of the charity that unreslricled funds which have not been designated for a specffic use should be maintained al a level equivalent lo six month's operating expenditure, equivalent to approximately £120,000. The trustees considers that reserves at this level wlll ensure that, In the gvenl of a significant drop In funding. they will be abla to continuo the charity'8 current activlties while consideration is given to ways in which additional funds may be raised. Free reserves of £280.644 al 30 September 2C124 cover this figure adequately. Rlsk pollcy The trustees h8vg assessed the major rlsks to which the charity is exposed, and are satisfied that ¥yslems are In place to mllig8te exposu to the malor rfsks. Structure* govèrnance and m•nagem•nt The charity Is 8 company Ilmlted by guar8nlee incorporated on the 17 September 2010, The Iruslees, who are 31so thg directors for thé purpose of company law, and who 88rved during the year and up lo the dale of signature of thè flnancial statements were., Mr BAmott Mr D Barratt MrJCRDale Mrs H J Herring MrJDTHethng MrWEOwen Mr8 J Smith IRe5igned 30 September 20241 {Appoinlod 22 Aprll 20241 New truste83 gre approved by the majorlty voles of the members. New truslges 8r8 identified a8 those wth spiritual malurlly and sulloble Iralnlng and inductlon is provlded as necessary. None of the trustees has any beneficlal inlere8t In th8 company. Eath member of the company guarantees 10 conlrlbute £10 In the event ol a wlnding up. The trustees, report was approved by the Board ol TTuslee8. Mr D Barratt Trustee Dated".
KINGDOM WAY TRUST STATEMENT OF TRUSTEES, RESPONSIBILITIES FOR THE YEAR ENDED 30 SEPTEMBER 2024 The trustees, who are al80 the dlrectors of Kingdom Way Twst for the purpo$8 of company law. arg responsible for preparing the Trustees. Report and the financial slaternenls in accordance with applicable law and United Kingdom Accounting Standards Iunited Kingdom Generally Accepted Accounting Practice). Company Law requires the trustees lo prepare financial statements for each fi'nanclal year whlch glve a t8 and fair view of the slate of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure. of the charitable company for that year. In preparing these financlal slatemenls, the trustees are required to.. select suitable accounllng policles and then apply them con8lslently', obserye the methods and Pfinciples in the Charities SORP.. make jud9ement8 and eslimalas that are reasonable and prudent.. stale whether applicable UK Accounllng Standards have been followgd, Subject lo any mat*ri81 departures di6dosed and explalned in the finanryal slalgmenls.. and Prepare the financial stslemen18 on the golng concern basi8 unless it Is Inapproprfale lo prosunE Ihol tho charity will eonlinue in oper8tr'0n. The trustee8 are respon8ible for keeping adequ8le accountr'ng r?Gords that d18close with reasonable accuracy al any lime the financial position of the charity and enable them to ensure that the financlal 8181ements comply with the Companies Act 2006. They are also responsible lor 8afegu8rdlng the assets of the charity and hence for taking reasonable Steps for the prev8ntion and d81eclion of fraud and other irregularities,
KINGDOM WAY TRUST INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF KINGDOM WAY TRUST I report to the tfusl8es on my examination of the financ¢al statements of lQngdom Way Trust Ilhe charity) for the year ended 30 September 2024. Respon51bllltl•8 and basls of report As the Iruslees of the charity land also its directors for the purposes of company lawl you are responstile for the preparation of the financial stalemenl$ in accordance wlh the requirements gf the Companies Act 20(E (the 2006 Acll. Havlng satisfied mysell that th8 financial statements of the charlly are not required to bo audited under Part 16 of the 2006 Ad and are eligible lor independent examlnalion, I report in respect of my examination of thè charity's financial statements carrièd out under secuon 145 of the CharS1ies Act 2011 (the 2011 Acll. In carrying oul my examination I have followed all the applicable Directions given by the Charity Commission under section 14515)Ibl of the 2011 Act. Independent oximln•¢s statement Since the charity's gross Income exceèded £250,000 your examiner musl be a membgr of a body Ilsted in 88Ction 145 of the 2011 Act. I confirm that l am qualified lo undertake the 9xamination b8cause l am a member of the A880cialion of Chartered Certified Accounlanls, whlch Is one of the listed bodie8. I have completed my ex8minallon, I conffimi that no matters hav8 come to my attention in connection with the examlnalion givlng me cause to believ9 that in any malèTheO respect.. accounting records were not kept in resped of the charity as reqvirgd by section 386 of the 2006 Act., or the financial slalemenls do not 8ccord wllh th088 records,, or thè flnanclal slalemenls do not comply wlh the accounts'ng requirements of section 396 of the 2006 Act olhor than any requlremenl that the accounts givo a true and fair view which Is not a matter considered as part of an independent examination., or the financial slalements have not bgen prepared in 8ccordance wlth thè methods and pr+nclples of the Slalemenl of Recommended Practice for accounting and reporting by charities applicable lo charltias preparing their accounts in accordance with the Financial Reporting Stsndard applicable in the UK aTr Republic of Ireland IFRS 1021. I have no Goncems 8nd have come acr088 no other matter8 in connection with the examination to whlch attention should be drawn in this report in order to enable a proper understanding of the ffinanclal slalemenls lo be reached. Colln Dadswell FCA FCCA DChA Caladine Limited Chantry House 22 Upperton Road Eastbourne East Sussex 8N21 1BF
KINGDOM WAY TRUST STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 30 SEPTEMBER 2024 Unregtrlcted Restrlcted funds fund$ 2024 2024 Totsl Unrestrlct•d Restrictod fund¥ funds 2023 2023 Total 2024 2023 Notes Income from: Donations and legacle8 Charitable activities Investments 31,092 264,800 2.367 124,715 155,807 264,600 2,367 44,012 127,575 573 90,667 42,580 134.879 170,155 573 Total Income 298,059 124,715 422.774 172,160 133,447 305,807 Expendlturg on: Charitable aclivlties 270,60S 129,769 400,374 153,220 165,314 318,534 Total •xp•ndlture 270,605 129.769 400,374 153,220 165,314 318,534 Nel galnslllossesl on Investments 11 2.950 2.950 Net Incomèllexpondlturo) 30,404 15,0541 25,350 18,940 131.867} 112,9271 Tran8fer8 be8$n nds 15,7291 5,729 13.622) 3,622 N•t movèment In funds 24,875 875 25,350 15,318 128.2451 {12,9271 R•conclllatlon of funds: Fund balances al l October 2023 1,285.841 38,364 1,304,205 1,250,523 66,809 1,317,132 Fund balances al 30 Saptsmber 2024 1.290,516 39,039 1,329,555 1,2e5,841 38,364 1,304,205 The statement of financlal activities indudès all gains and losses recognised in the year. All income and expenditure derive from continuing acllvilies.
KINGDOM WAY TRUST STATEMENT OF FINANCIAL POSITION AS AT30 SEPTEMBER 2024 2024 2023 Not88 Flxed assets Property, plant and equlpmenl Programme related investments 13 14 992,583 53,998 1.008,267 43,334 1,046,581 1,051.601 Curront a8Jets Trade and other recelvables Cash 8t bank and In hand Is 3,682 449,958 1,976 257,695 453,640 1170,6661 259,671 17.0671 Current Ilabllltle¥ 16 Net current a859ts 282,974 252,604 Total as•et• lèss current Ilabllltle8 1.329.555 1,304,205 Th• funds of thè charfty Restricted Intome funds Unrestrlcled funds 18 19 39,039 1.290.516 38,364 1,265,841 1,329,555 1.304,205 The company is 8ntitled lo the exempllon from the audll requirement contsined in sécllon 477 of the Companies Act 2006, for the year ended 30 September 2024. The dlreclor3 acknowledge their responsibilities for eomplylng wSlh the rgqulremgnts of the COmpaeS Act 2006 with resp8cI lo accounting records and the prepar8tion of financial slalem9nls. The rnembers have not required the company lo obtsin an audlt of ils flnanci81 Statements for the year in que8tlon in aOrdanCe vAlh section 476. These financial slalernenls have bgen prepared In accordance wllh thé provisions appllcable lo companies 5ubjècl lo the small companies regime The financial 51at8ment8 were approved by the Iruslges on Mr D Barratt TfU6t•e MrWEOwen Trusteo Company registratson number 07379364 (England and Wales)
KINGDOM WAY TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024 Accountlng poli¢leg Company Informatlon Kingdom Vwdy Trust is a piivate company limited by guarante8 incorporated in England and Wale5. The Tegislered office is Chantry House, 22 Upperton Road, Easlboume, East Sussex, BN21 1 BF. The operating address is 128 Royal Parade, Easlbourne, East SLJssex, BN22 7JY. 1.1 Accountlng convontion The financial slalemenls have been prepared in accordance wlh the eharily's Mgmorandum and Artlckns of Association the Companies Act 2006 and "Accounting and Reporting by Charities,. Slalement of Recommended Practice applicable lo charities preparing their aecounls in accordance wllh the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 leffectlve 1 January 20191" The ch8rily1s o Publlc Benefit Enllty as deflned by FRS 102. The charfty has taken advantag& of the provi8ions in the SORP for charitiès applylng FRS 102 Updats Bulletin 1 not lo preparè a Slatement of Cash Flow8. The financial Slalements aro prepared in sterling, which is the functional currency of the Charity. Monètary amounts in these financial stslgrnenls are rounded lo the neareyl £. The financial sl8lemen15 have been prepared under the hlslorlcal cost ttjnvenllon. The principal accounting policies adopted 8re sel out below. 1.2 Golng concgm Al the time ol approving the financial stgtemenls, the tru$le¢s have a reasonable expectation that Ihg charfty has adequate Tésources to continue in operational existence for the foreseeable future. Thus the trustees eonllnue lo adopt the going concem basis of accountlng in preparing the financl8181at•menls. 1.3 Charltablg funds Unrestrtcted funds are avaIlae for use al the discretlon of the trustees in furtherance of their charitable objedives. Designated funds comprise funds which have b88n Set aslde at the discretion of the Iruslees for specific purposes. The purposes and uses of the deslgnaled funds are set out in the notes to the financial ststemenls. Restricted funds are subject lo specific condltions by donors or grantors as lo how they may be used. The purposes and u6es of the reslricled funds a set out in the notes lo the financial statements. 1.4 Incomg Income is e0gniSed when the charity is legally entitled to il after any perfomiance condllions have been met, the pmounls can be measuTed reliably, and it is probable that income will be received. Cash donations are reeognised on receipt. Other donations are rècogni8ed once the charity has been notified of the donation. unle55 performance conditions require deferral of the amount. Income lax recoverable in relation lo donations received undei Gift Aid or deeds of covenant is recognised al the lime of the donation. Legacies are recognised on receipt of olherwse If the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is Irealed as conlinggnt asset. Donated assets are recognised in the financial statements at market value.
KINGDOM WAY TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2024 AcGountlng pollcles IContinu•dl 1.5 Expenditure Expendrture is recognised oncè there 1$ a legal or conslruclive obligation to tronsfer economic benefit lo a third party, it is probable that a transfer of economic benefits will be required In settlement, and the amount of the obligation can be measured Teliably. Expenditure is classified by activity. The costs of each actNily are made up of the totsl ol dlr&t C051$ and shared costs, including support costs involved in undertaking each aclivily. Dirtct costs attributable to a single activity are allocated direcuy lo that adivity. Shared costs which contribute to morè than one activity and support costs which are not gttribulable lo a single activity are apportloned between those aclivilw on a basi¥ consislenl wnh the use of resources. Central staff cos15 are allsxaled on the basis of lime spent, and depreciation charges are allocated on tha portion of the asset's use. Expenditure is included in the Slalgment of FinancSal Actlvlties on an 8ccruals basis and includès Irrecoverable VAT. Charitable expendllure comprise8 expenditure related to diiecl furtherance of the charlly's objects. 1.6 Property. plant and oqulpment Pr¢)perty, plant and equipment are Inlllally measured al cost and subsequently rne88ured 81 cost or valuation, nel of depreclalion 8nd any impairment losses. Tangible fixed assets are staled al cost less depreciatlon. Depreciation Is prowded al ra1•8 C8lculoled to wrlt• off the cost less estimated ffjsldual value of each a8set over Its expected useful lrfe. 85 follows.. Land and buildings Fixtures, fitting5 and equipment Motor v8hidas at 2% on 8 81raighl Ilne basis al 25% on a straight line basis al 25% a straight line basi$ The galn or1088 arising on the disposal of an assel18 determined as the dlfference between th8 sale proceeds and the Garrying value of th¥ asset, and is recognised in the Statement of financbl acllvilie¥. 1.7 Impalrnient ol non-curront a88•ts At each reporting end dale, the charity reviews the carrying amounts ol ils tangible assets lo determine whelhor there iy any ind1caOn that those assets have suffered an impaifmenl loss. If any such indLation gXlSt5, the recoverable amount of the asset is eslimaled in order lo determine tha extent of the impaimient loss lif any) 1.8 Cash and cash oqulvalgnts Cash and cash equivalents include cash in hand. deposits held at call with banks, other short-term liquid investments with orlginal malurilies of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowing5 in current liabilities. 1.9 Flnancial Instrumènts The charity has elected lo apply the provisions ol Section 11 'Basic Financial Instruments, of FRS 102 to all of its financial inslrumenls. Financial instruments are recognised in the charity's balance sheet whon the charity becomes party lo the conlraclual provisions of the instrument. Financial assets and liabilities are offset, with the nel amounts presented in the financial sl8temenls, when there is a legally enforceable right lo set off the recognised amounts and there is an intentson lo sellle on a net basis or to realise the asset anrl settle the liability simultaneously. 10-
KINGDOM WAY TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2024 Accountlng pollclfjs Icontlnuod) 1.10 Taxatlon The trustee¥ consider that the company is Tr)t liable lo UnSled Kingdorn corporation taxab'on due to all Jt's incom• being oppll¢d lo eharilable activities. 1.11 Employee boneflts The cost of any unused holiday enlillem¢nt is recognised in the pgriod in which the employee's services are received. Termination beneflts are reeognised immediately as an expense when th8 charity Is demonstrably commilled lo terminate the employment of an employee or lo provide lemilnalion benefits. 1.12 Retlrement bgneflts The charity has a dettned pen51on conlribullons contractual agreement th 81aff. Contributs'ons are ch¥rged In the accounts as they become paYats In accordance wllh the agreement. 1.13 Gr•nt maklng pollcy The trust seeks to help churches and other org8nisalions in helping hom•lèss and vulnerable people. Crltlcal accountlng e*tlmato1 and ludgemgnts In the appllcalion of the charty'5 a¢counllng pollcle8, the Iru5tees ar8 required lo make Sudgements. estimaleg and a8sumptlons about the carrylng amount of a868ts and liabilities that are not readily apparent from other sources. The eslimales and associated assumptions are based on historical experlence and other factor¥ that 8re considered to be re18vanl. Actual re5u115 may differ from these esllmales. The esllmates and underlying assumptions are revlewed on an ongoing basls. ReviSn$ lo ac¢ounling esllmales are recognised in the period in whlch the estimate is Tevised where the revision affects cnly that period, or in the period of the revision and fvlure pericd8 where the revisi¢Jn affects both current and future periods,
KINGDOM WAY TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUEO) FOR THE YEAR ENDED 30 SEPTEMBER 2024 Donatlon¥ and legaclos Unrèltrlctsd Re8trlGted funds funds Total Unrestricted Reslrided funds fvnds Total 2024 2024 2024 2023 2023 2023 DOnaonS and gifts Grants recelvable 23,892 7,200 13.714 111,001 37.606 118,201 31.012 13,000 3,667 87,200 34,679 100,200 31,092 124,715 155,807 44,012 90,887 134.879 Donatlons and glft• Gifts and donallon8 Gift aid recelvable 23,248 844 12,464 1,250 35,712 1,894 30,795 217 3,667 34,462 217 23,892 13,714 37,608 31,012 3,867 34,679 Grants r•¢glvabl• for Gor• acllvltlg# The Bndge Wegkend Drop-in Hope Into Actlon Emef9ency Hou8lng Tho Vvay Goneral costs 7,500 2,000 7,500 70.200 7,500 2,000 7,500 70,200 2.000 5,200 111,001 113,001 5,200 13,000 13,000 7.200 111,001 118,201 13.000 87,200 100.200 12-
KINGDOM WAY TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2024 4 Income frorn charftablg a¢tlvlti88 Emergency The 8rldgo Houslng 2024 Hop• Hope into Woodwork Actlon 2024 2024 Wannock Hou80 2024 Totsl Total 2024 2024 2023 Rent received Sale ol rtem8 60,723 S8.608 1,440 73,774 80,965 9.090 190,826 129,015 73,774 41.140 60.723 58,608 75,214 60,965 9,090 264,600 170,1 SS An8ty$l¥ by fund Unrestricted funds Re8lricled funds 60,723 58,008 75.214 60,965 9,090 264,600 127,575 42,580 80,723 58,608 75,214 60,965 9,090 264,600 170.155 Prwlou• year: The 8rldge ope Hop• Into Woodwork Actlon 2023 2023 Wannock Hou88 2023 Totsl 2023 2023 Rent rgcèived Sale ol items 80,159 1,440 41,140 57,876 9,540 129.015 41,140 eo,159 42,580 57,878 9,540 170,155 Analysls by fund Unreslrided funds Restricted fund8 80,159 57.870 9,540 127,575 42,580 42,580 60,159 42,580 57,876 9,540 170.155 Incom• from InvèBtmènts Unrestricted Unr•stricted funds funds 2024 2023 Interest receivable 2,367 573 13-
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KINGDOM WAY TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2024 Support costs alkbcatèd to actlvStlos 2024 2023 Staff costs Trustee meeting and expen8es Travel expen¥e5 and other supplies Llcences IT costs and webslle Training and other staff c08t8 Govemanc8 costs 21,058 2.470 79 956 298 1,858 4.241 19.990 1,143 563 382 680 483 3,425 30,960 28,628 Emergency Hou&ng The Bridge Hope wooork Hope into Acllon Wannock House The Way & WE Drop In 9,288 11,B94 3,964 3,965 4,165 2.638 4,644 4,844 3,096 30.960 26,626 2024 2023 Governan¢8 èosts cornprl•e: Acwunlancy Ind¢pendenl examlnalion Bank fees 3,102 750 389 2,529 720 176 4,241 3,425 Ngt movem•nt In fund• 2024 2023 The net movement in fvnds 18 8t8ted after (*argingllcreditingl'. Depwlation of owned property. plant and equipment 18,829 18,200 Tru$tees None of the trustees lor any per80ns connected wilh them) received any remuneration during the year. Two trustees were reimbursed a total of £605 for travel and 5ubsislence expenses during the year 12023." tsvo trustees were reimbursed £8601. 16-
KINGDOM WAY TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2024 10 Employees The average monthly number of omployees during the year was.. 2024 Number 2023 Numbor The Bridge Hope Wo¢xlwork Trust Manager Emergency Housing Tol81 Employment cts 2024 2023 Wages and salaries Social 8ecurily costs Other pension costs 128,322 4,743 6,530 121,898 4,474 6,142 139.595 132,514 There were no employee8 I88 annual romunerallon w95 more than £60.000. Remuneratlon of key management por¥onn•l 11 G•lni and101•08 on Invostmont• Unrestrlcted Unr•Btrlctod funds funds 2024 2023 Galn8111088esl arising on.. Revaluation of programme related Invgslment8 2,950 12 Taxatlon The charity Is exempt from taxation on its activities bgcause all its income is applied for charitable purpose$. 17-
KINGDOM WAY TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED FOR THE YEAR ENDED 30 SEPTEMBER 2024 13 Property. plant and equlpmont Land and Fixturu. buildlngs fittings and equlpment Motor vèhlcl8s Totsl Cost At 1 Octobor 2023 Additions 1,135,007 3,495 3.145 5,880 1,144,382 3,145 AI 30 September 2024 1,135,007 6,640 5,880 1,147,527 Depreclatlon and Impalm)ent Al 1 October 2023 Depreciatlon charged in the yeof 126.740 18,200 3,495 629 5,880 136.115 18.829 At 30 Septgmber 2024 144,940 4,124 5.880 154,944 C•rrylng amount AI 30 September 2024 990,067 2,516 992,583 AI 30 September 2023 1,008.287 1,008.267 14 Programmg rélated Investrnont8 Lind and Proporty At 1 O¢tober 2023 Invested in Hope Into Acli¢Jn cOnsoruM Revaluation inGrga8e 43,334 7,714 2.950 At 30 Sèptembfrr 2024 53,998 During the year ending 30 September 2018 Klndgom Vvay Trust particlpated wllh a group of investors lo purchasè a property in Easlbourne lo be used for the Hope into action project. The consortium of irNeslDrs have entered into a Trust deed which reqvlre5 investment in the projed for a minimum period of 5 years, after which invest(xs can withdraw their capital or remain part of the project for a further 5 years, There was a revalu81ion of the property al 28 November 2023 to release investors and enable new investors lo tske part. As 8 result the Trust's share Increased £2,950 by being revalued. At the same lime one of the existing investors donated their share lo the Trust resulting in increase 01 £7.714. Hope into Actlon Is a nationally recognised PToje¢l designed to house and support vulnerable individuals and families. Each property 15 partnored by a Church who provide support to the tenants. This investment by Kingdom Way Trust helps lo fulfil the charitable objects 18-
KINGDOM WAY TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2024 15 Trade and other r8celvable8 2024 2023 Amounts falllng due wlthln ong yoar: Other receivabl8s Pr¢payments and ac¢rued Income 1,922 1,760 216 1,780 3,682 1.978 16 Current Ilabllttl 2024 2023 Nots• Other laxotion and soclal Becurty Government grants Other payables Accruals and dgfèrred Income 1,643 163,075 1.115 4,833 1.3S3 1,193 4,521 170,666 7,067 17 R•tlrgmont benefit Schemes 2024 2023 Deflnod Gontrlbutlon •ch•m Chafge to profit of1088 in respect of defined conlrfbutlon $chem88 8,530 6,142 18 Rgstrlctèd fund• The restrictfjd funds of the charlty compri59 the unexpended balanc•$ of donation8 8rsd grants held on trust 8ubject lo specific condltlons by donors as lo how they may be usad. At 1 October 2023 In¢omlng ources Resources expended Transfers At30 Septornber 2024 DHLUC Emergency Housing Emergency Hougng Hope Woodwork Hope Into Action Investment Weekend Dropin 399 2.526 111,001 (111,4001 18,2551 12,0051 5,729 2.005 11,709 25,000 10,439 36,709 2,330 {8,1091 38.364 124,715 1129.7691 5.729 39,039 19-
KINGDOM WAY TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2024 18 R&strlcted funds (Continued) Provlous ygar: At 1 October 2022 Incomlng resources ResourG8B expended Transfèrs At30 September 2023 DHLUC Emergenw Hou81ng Emergency Housing Hope Woothork Hope Into Acllon Salaries Hope Into Action Investment Hope Into Action IEaslbourne Propetyl Weekend Drop-ln Support worker sal8rie¥ 69,200 1.823 45.424 168.8011 12.0221 166,1571 11721 399 2.526 2,725 20.733 172 25.000 25,000 17,111 21,601 {17,111} 2,000 15,000 {13.162} 115.0001 10,439 66,809 133,447 165,314 3,622 38,364 DLUHC Emergency Houslng Grant- A grant from the Department for Levelllng Up, Housing & Communltles to Pfovide winter emergeney housing. The small remainlng b81ance wlll be carried forward to use in 2023-24, Ernergfrncy Houslng - Other donations and grants rnceived spaafically to aS818t wllh the costs of runnlng the NS proleet. Hope Woodwork - ineome ond expenditure related to this project which provides training, education $nd helps to restore Self worth and bulld confitJenc8 in Indib'iduals. Hop& Into Actlon Investment.. £25,000 was received In 2017-18 for the ch8rlty to Invest in a Hope Into Action property 09 described in nele 14. Two further gifts lolalllng £8,250 wer8 received in 2023-24 to be Inve$led In the next Hope Into Action propety purchase. Alon9 vAlh the balance of the rovalu81ion of Attfield Walk of £3.459 Irealed as don8tions and held for futur8 use. Eastboum8 Property.. This represents income and expenditure relating lo the Hope Into Action property located in E8slbourno managed by the charsty. During the year the original 5 year investment term ended. Under the Hope into Action agreement any surplus monies held relating to the property belong to K. A transfer was therefore madè lo general funds in 8ccordance with thi5 agreement. S&l8rtes.' This lund contains grants received lo cover the salary of an employee who started November 2021. Weekend Drop.In grants and donations lo be pul towards the ¢osl of providing a weekend dropin service for vulnerable members of the community. Support workèr salarle$ - this lund included grants whieh were u6ed lo pay for support worker Salaries for thè Brldge and Hope inloAclion projects. 20-
KINGDOM WAY TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2024 19 Unrestrlcted fund8 The unreslricled funds of the charity comprise the unèxpended balances of donations and grants are not subject to SP8cific conditions by donors and grantors as lo how they may be used. These include designated funds which have been set aside out of unrestricted fundg by the Iruslees for specific purposes. At 1 Oetob8r 2023 Incomlng ro$oufc•s Rèsourcès •xp•nded Transfers Galns and lo$e# At30 Septembor 2024 Wannock Hou58 property General lunds 508,500 757,341 508,500 782,016 298,059 1270,6051 15,7291 2,950 1,265,041 298,059 1270,6051 15.7291 2,950 1.290,516 Pr•vlou• year: At 1 Octobor 2022 Incomlng Rosourcos rn8ource• expended TrJn8f•rn Galns and 103s98 At30 8optombor 2023 W8nn¢xk House proprty General fundg 518,000 732,523 19,5001 1143.7201 508,500 757,341 172,160 13,8221 1,250,523 172,160 153.220 13,6221 1,265,841 Wannock House Property This propety was donated lo the trust, valued 01 the time of the gift al £575.000. No restrlctlon was placed on the use of thg property and 11 is being ulilised in the core charitable activrties. Thg value of the property has been placecl into a separate deslgnaled fund lo identify il 8eparalely from the General funds. Depreciats'on is charged lo the fund so that il reprèsents the nel book value of the property. 20 Analyh of net assets between funds Unrostrlcted funds 2024 Restrlcted funds 2024 Total 2024 At 30 Septernr 2024.. Property, plant and equipment Programme related assets Current asselsllliabilits-es) 992,583 17,289 280,e44 992,583 53,998 282.974 36.709 2,330 1,290.516 39,039 1,329,555 21
KINGDOM WAY TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2024 Analy81s of net assets belweon funds IContinuod} Unrostrlct funds 2023 Restrlctsd funds 2023 Total 2023 At 30 Sèptember 2023: Property. plant and equipment Programm8 related assets Current asSets111SablliU8s} 1,008,267 18.334 239.240 1,008.267 43.334 252,604 25,000 13,364 1,265,841 38,364 1,304,205 21 Op•ratlng l•ao commltmonts Lgs¥ee At the reporting end data the chartty had outstandin9 commrtmenls for future minimum lea¥e payrnon18 under non-cancellable operating leas8$, which fall due as follows.. 2024 2023 Wthln one year 8theen tsvo and five years 4.526 7,$43 5,015 12,069 12,069 17,084 22 R•lated party transa¢tlon• There were no diselosable related party Ir8nsactions during the yeaT12023- none). 22-