Registered number: 8239175 Charity number: 1149674
KICC THE CITY OF REFUGE
(A company limited by guarantee)
UNAUDITED
TRUSTEES' REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023
KICC THE CITY OF REFUGE
(A company limited by guarantee)
CONTENTS
| Page | |
|---|---|
| Reference and administrative details of the company, its Trustees and advisers | 1 |
| Trustees' report | 2 - 5 |
| Independent examiner's report | 6 - 7 |
| Statement of financial activities | 8 |
| Balance sheet | 9 - 10 |
| Notes to the financial statements | 11 - 19 |
(A company limited by guarantee)
KICC THE CITY OF REFUGE
REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 28 FEBRUARY 2023
Trustees Gotthard Landau Olutomi Osibanjo Company registered number 8239175 Charity registered number 1149674 Registered office 2d Kingswood Road Fallowfield Manchester M14 6SB Resident Pastor Pastor Oladele Oluyemi Independent Examiner Dean Howard & Co Chartered Certified Accountants Unit F55 Expressway Studios 1 Dock Road London E16 1AH
Page 1
KICC THE CITY OF REFUGE
(A company limited by guarantee)
TRUSTEES' REPORT FOR THE YEAR ENDED 28 FEBRUARY 2023
The Trustees present their annual report together with the financial statements of the company for the 1 March 2022 to 28 February 2023. The Annual report serves the purposes of both a Trustees' report and a directors' report under company law. The Trustees confirm that the Annual report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable company's governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019).
Since the company qualifies as small under section 382 of the Companies Act 2006, the Strategic report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013 has been omitted.
Objectives and activities
a. Policies and objectives
KICC The City of Refuge’s objective is to build an international, charismatic, contemporary and independent ministry which primarily seeks to help believers work towards growing up in the grace and knowledge of Jesus Christ.
Additionally, we work towards reflecting the vision of an international church by bringing all men and women of different nationalities to grow together through fellowships before and after each service and through our several Caring Heart Fellowship (CHF) Groups.
We aim to help our members find their destinies, fulfill their calling and to follow God’s plan for their lives.
b. Activities undertaken to achieve objectives
The various activities and functional groups that underpin and advance our objectives include, among others, the following:
Kingsway Bible Institute (Faith Clinic) Stewards Training Leadership Training Counselling Sessions Bible Study Prayer Worship Kings Kids Ministry Caring Heart Fellowship Centres Evangelistic & Outreach Team Welfare Committee Support Group that cares for the Homeless (Noah’s Ark) Kingsway Young Adult Ministry (The Royals) TNT (Teenagers for a New Tomorrow) Technical & Media Team
Page 2
KICC THE CITY OF REFUGE
(A company limited by guarantee)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 28 FEBRUARY 2023
Achievements and performance
a. Review of activities
Throughout the year, KICC The City of Refuge conducted several impactful Sunday & Thursday services, including the Caring Heart Fellowship (CHF) every Friday online. The Inspirational Hour radio programme, hosted by the Resident Pastor, has been successfully running on All FM 96.9 and SoundCloud every Tuesday. Additional events such as Authentic Love - Valentine’s Bow Tie Event, Movie Night, Evening of Praise, Family Fun Day, Christmas Party and 31st December Crossover Night were held, and the TNT Department organised outings and celebrations. The church remained active in contributing to the welfare of its members and engaging in community outreach.
The church's media presence expanded post COVID-19 pandemic, with live services streamed on major social media platforms. The church now conducts both physical and virtual services each week.
Page 3
(A company limited by guarantee)
KICC THE CITY OF REFUGE
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 28 FEBRUARY 2023
Financial review
a. Going concern
After making appropriate enquiries, the Trustees have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies.
Structure, governance and management
a. Constitution
KICC The City of Refuge is registered as a charitable company limited by guarantee and was set up by a Memorandum of Association.
b. Methods of appointment or election of Trustees
The management of the company is the responsibility of the Trustees who are elected and co-opted under the terms of the Memorandum of Association.
c. Financial risk management
The Trustees have assessed the major risks to which the company is exposed, in particular those related to the operations and finances of the company, and are satisfied that systems and procedures are in place to mitigate exposure to the major risks.
Plans for future periods (2022-2030)
Looking ahead, KICC The City of Refuge envisions substantial growth and advancement, guided by the following plans:
-
Strengthening and expanding our media presence on all social media platforms.
-
Establishing additional CHF Centres in and around Manchester.
-
Providing comprehensive training for leaders to efficiently manage departments and groups.
-
Enhancing Children’s and Youth Ministries with impactful programmes, potentially housing TNT in a separate facility.
-
Establishing a Saturday Supplementary School focused on core subjects and hiring dedicated teaching staff.
-
Engaging university students through active 'Royals' programmes.
-
Conducting more Evangelistic and Outreach Meetings.
-
Prioritising members' welfare by reinforcing existing practices and policies.
-
Hosting workshops and conferences to impact young adults, men, and women in the church.
-
Establishing strong in-reach practices to address members' needs effectively.
-
Exploring business ventures to generate additional income for church activities.
-
Opening other chapels to further the objective of substantial growth.
Page 4
(A company limited by guarantee)
KICC THE CITY OF REFUGE
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 28 FEBRUARY 2023
Members' liability
The Members of the company guarantee to contribute an amount not exceeding £1 to the assets of the company in the event of winding up.
Statement of Trustees' responsibilities
The Trustees (who are also the directors of the company for the purposes of company law) are responsible for preparing the Trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the Trustees to prepare financial statements for each financial . Under company law, the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:
-
select suitable accounting policies and then apply them consistently;
-
observe the methods and principles of the Charities SORP (FRS 102);
-
make judgments and accounting estimates that are reasonable and prudent;
-
state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;
-
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by order of the members of the board of Trustees on 15 February 2024 and signed on their behalf by:
Olutomi Osibanjo
Page 5
KICC THE CITY OF REFUGE
(A company limited by guarantee)
INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 28 FEBRUARY 2023
Independent examiner's report to the Trustees of KICC The City of Refuge ('the company')
I report to the charity Trustees on my examination of the accounts of the company for the year ended 28 February 2023.
Responsibilities and basis of report
As the Trustees of the company (and its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the company's accounts carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner's statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
-
accounting records were not kept in respect of the company as required by section 386 of the 2006 Act; or
-
the accounts do not accord with those records; or
-
the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a 'true and fair' view which is not a matter considered as part of an independent examination; or
-
the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)].
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
This report is made solely to the company's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the company's Trustees those matters I am required to state to them in an Independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the company and the company's Trustees as a body, for my work or for this report.
Signed:
Dated: 15 February 2024
Dean Dairo MSc FCCA
Dean Howard & Co Chartered Certified Accountants Unit F55
Page 6
KICC THE CITY OF REFUGE
(A company limited by guarantee)
INDEPENDENT EXAMINER'S REPORT (CONTINUED) FOR THE YEAR ENDED 28 FEBRUARY 2023
Expressway Studios 1 Dock Road London E16 1AH
Page 7
KICC THE CITY OF REFUGE
(A company limited by guarantee)
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 28 FEBRUARY 2023
| Note Income from: Donations and legacies 3 Total income Expenditure on: Charitable activities 4 Total expenditure Net movement in funds Reconciliation of funds: Total funds brought forward Net movement in funds Total funds carried forward |
Unrestricted funds 2023 £ 44,256 44,256 52,409 52,409 (8,153) (8,769) (8,153) (16,922) |
Total funds 2023 £ 44,256 44,256 52,409 52,409 (8,153) (8,769) (8,153) (16,922) |
Total funds 2022 £ 48,338 48,338 46,469 46,469 1,869 (10,638) 1,869 (8,769) |
|---|---|---|---|
The Statement of financial activities includes all gains and losses recognised in the year.
The notes on pages 11 to 19 form part of these financial statements.
Page 8
KICC THE CITY OF REFUGE (A company limited by guarantee) REGISTERED NUMBER: 8239175
BALANCE SHEET AS AT 28 FEBRUARY 2023
| Note Fixed assets Tangible assets 8 Current assets Debtors 9 Cash at bank and in hand Creditors: amounts falling due within one year 10 Net current liabilities Total assets less current liabilities Net liabilities excluding pension asset Total net assets Charity funds Unrestricted funds 11 Total funds |
840 13,140 13,980 (37,231) |
2023 £ 6,329 6,329 (23,251) (16,922) (16,922) (16,922) (16,922) (16,922) |
735 9,062 9,797 (28,495) |
2022 £ 9,929 9,929 (18,698) (8,769) (8,769) (8,769) (8,769) (8,769) |
|---|---|---|---|---|
The company was entitled to exemption from audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.
The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.
The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.
The financial statements were approved and authorised for issue by the Trustees on 15 February 2024 and signed on their behalf by:
Page 9
KICC THE CITY OF REFUGE (A company limited by guarantee) REGISTERED NUMBER: 8239175
BALANCE SHEET (CONTINUED) AS AT 28 FEBRUARY 2023
Olutomi Osibanjo
The notes on pages 11 to 19 form part of these financial statements.
Page 10
KICC THE CITY OF REFUGE
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2023
1. General information
The company is limited by shares and incorporated in England. The address of the registerd office is given in the company information page of these financial statements.
2. Accounting policies
2.1 Basis of preparation of financial statements
The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - 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 UK and Republic of Ireland (FRS 102) (effective 1 January 2015), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
KICC The City of Refuge meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
2.2 Income
All income is recognised once the company has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
Grants are included in the Statement of financial activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the Balance sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued.
2.3 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to 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 reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the company's objectives, as well as any associated support costs.
All expenditure is inclusive of irrecoverable VAT.
2.4 Government grants
Government grants relating to tangible fixed assets are treated as deferred income and released to the Statement of financial activities over the expected useful lives of the assets concerned. Other grants are credited to the Statement of financial activities as the related expenditure is incurred.
Page 11
KICC THE CITY OF REFUGE
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2023
2. Accounting policies (continued)
2.5 Tangible fixed assets and depreciation
Tangible fixed assets costing £NIL or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.
Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.
Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, on a reducing balance basis.
Depreciation is provided on the following bases:
Motor vehicles - 25% on reducing balance - Fixtures and fittings 25% on reducing balance - Office equipment 25% on reducing balance
2.6 Debtors
Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
2.7 Cash at bank and in hand
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
2.8 Liabilities and provisions
Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the company anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of financial activities as a finance cost.
Page 12
KICC THE CITY OF REFUGE
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2023
2. Accounting policies (continued)
2.9 Finance leases and hire purchase
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired by finance lease are depreciated over the shorter of the lease term and their useful lives. Assets acquired by hire purchase are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in creditors, net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the Statement of financial activities so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
2.10 Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the company and which have not been designated for other purposes.
3. Income from donations and legacies
| Donations Government grants Total 2022 |
Unrestricted funds 2023 £ 44,256 - 44,256 48,338 |
Total funds 2023 £ 44,256 - 44,256 48,338 |
Total funds 2022 £ 35,323 13,015 |
|---|---|---|---|
| 48,338 | |||
Page 13
(A company limited by guarantee)
KICC THE CITY OF REFUGE
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2023
4. Analysis of expenditure on charitable activities
Summary by fund type
| Charitiable activities Total 2022 |
Unrestricted funds 2023 £ 52,409 46,469 |
Total 2023 £ 52,409 46,469 |
Total 2022 £ 46,469 |
|---|---|---|---|
5. Analysis of expenditure by activities
| Charitable activities Total 2022 |
Support costs 2023 £ 52,409 46,469 |
Total funds 2023 £ 52,409 46,469 |
Total funds 2022 £ 46,469 |
|---|---|---|---|
Page 14
(A company limited by guarantee)
KICC THE CITY OF REFUGE
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2023
5. Analysis of expenditure by activities (continued)
Analysis of support costs
| Central office due Travel and subsistence Phone Computer expenses Light and heating Repairs and maintenance Advertising and publicity Events Printing, postage and stationery Rent Church materials Water rate Insurance Profit/loss on sale of tangible assets Accountancy fees HP Interest Sundry expenses Bank charges Depreciation - motor vehicles Depreciation - church equipment Depreciation - fixtures and fittings Hire of equipment Sunday school/Youth ministry Welfare Honorarium Wages and salaries Pension costs Motor expenses Total 2022 |
Activities 2023 £ 4,391 827 785 505 1,430 1,206 100 1,376 24 11,850 299 1,968 730 (5,948) 1,237 61 52 - - 2,060 49 - 37 800 300 26,471 794 1,005 52,409 46,469 |
Total funds 2023 £ 4,391 827 785 505 1,430 1,206 100 1,376 24 11,850 299 1,968 730 (5,948) 1,237 61 52 - - 2,060 49 - 37 800 300 26,471 794 1,005 52,409 46,469 |
Total funds 2022 £ 4,388 743 551 619 1,697 527 - - 108 2,550 119 822 847 - 1,227 181 38 108 867 2,378 66 450 237 406 - 26,471 794 275 |
|---|---|---|---|
| 46,469 | |||
Page 15
KICC THE CITY OF REFUGE
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2023
6. Independent examiner's remuneration
The independent examiner's remuneration amounts to an independent examiner fee of £1,237 ( 2022 - £1,125 ).
7. Trustees' remuneration and expenses
During the year, no Trustees received any remuneration or other benefits (2022 - £NIL) .
During the year ended 28 February 2023, no Trustee expenses have been incurred (2022 - £NIL) .
8. Tangible fixed assets
| Cost or valuation At 1 March 2022 Additions Disposals At 28 February 2023 Depreciation At 1 March 2022 Charge for the year On disposals At 28 February 2023 Net book value At 28 February 2023 At 28 February 2022 |
Motor vehicles £ 11,113 - (11,113) - 8,512 - (8,512) - - 2,600 |
Fixtures and fittings £ 1,501 - - 1,501 1,304 49 - 1,353 148 197 |
Church equipment £ 16,714 1,109 - 17,823 9,582 2,060 - 11,642 6,181 7,132 |
Total £ 29,328 1,109 (11,113) 19,324 19,398 2,109 (8,512) 12,995 6,329 9,929 |
|---|---|---|---|---|
Page 16
(A company limited by guarantee)
KICC THE CITY OF REFUGE
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2023
9. Debtors
| Due after more than one year Other debtors Due within one year Other debtors |
2023 £ - - 840 840 |
2022 £ 60 |
|---|---|---|
| 60 674 |
||
| 734 |
Page 17
(A company limited by guarantee)
KICC THE CITY OF REFUGE
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2023
10. Creditors: Amounts falling due within one year
| Other taxation and social security Obligations under finance lease and hire purchase contracts Pension fund loan payable Other creditors Accruals and deferred income |
2023 £ 1,482 - 168 34,581 1,000 37,231 |
2022 £ 1,625 315 168 25,233 1,154 |
|---|---|---|
| 28,495 |
11. Statement of funds
Statement of funds - current year
| Unrestricted funds General Funds - all funds Statement of funds - prior year Unrestricted funds General Funds - all funds |
Balance at 1 March 2022 £ (8,769) Balance at 1 March 2021 £ (10,638) |
Income £ 44,256 Income £ 48,338 |
Expenditure £ (52,409) Expenditure £ (46,469) |
Balance at 28 February 2023 £ (16,922) Balance at 28 February 2022 £ (8,769) |
|---|---|---|---|---|
12. Summary of funds
Page 18
(A company limited by guarantee)
KICC THE CITY OF REFUGE
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2023
12. Summary of funds (continued)
Summary of funds - current year
| General funds Summary of funds - prior year General funds |
Balance at 1 March 2022 £ (8,769) Balance at 1 March 2021 £ (10,638) |
Income £ 44,256 Income £ 48,338 |
Expenditure £ (52,409) Expenditure £ (46,469) |
Balance at 28 February 2023 £ (16,922) Balance at 28 February 2022 £ (8,769) |
|---|---|---|---|---|
13. Pension commitments
The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £794 (2022 - £794). Contributions totalling £168 (2022 - £168) were payable to the fund at the balance sheet date and are included in creditors.
14. Related party transactions
The company has not entered into any related party transaction during the year, nor are there any outstanding balances owing between related parties and the company at 28 February 2023.
Page 19