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 29 FEBRUARY 2024
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 29 FEBRUARY 2024
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 29 FEBRUARY 2024
The Trustees present their annual report together with the financial statements of the company for the 1 March 2023 to 29 February 2024. 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 is committed to building an international, charismatic, and contemporary ministry, dedicated to guiding believers in growing in the grace and knowledge of Jesus Christ. Our vision is to create a diverse and united international church community through meaningful fellowships before and after services and through our Caring Heart Fellowship (CHF) Groups. We aim to help members uncover their destinies, fulfil their calling, and align with God’s divine 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
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KICC THE CITY OF REFUGE
(A company limited by guarantee)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 29 FEBRUARY 2024
Achievements and performance
a. Review of the year's activities
In 2023/2024, KICC The City of Refuge held impactful Sunday and Thursday services, complemented by the Caring Heart Fellowship (CHF) every Friday online. The church’s Inspirational Hour radio programme, hosted by the Resident Pastor, continued airing successfully on All FM 96.9 and SoundCloud every Tuesday. A variety of events enriched the church calendar, including:
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Authentic Love – Valentine Event
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Movie Night
-
Evening of Praise
-
Family Fun Day & Anniversary Event
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Christmas Party
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31st December Crossover Night
The TNT Department also organised impactful events.
Additionally, the church played a vital role in supporting members' welfare and engaging in community outreach. Post-COVID, KICC the City of Refuge has expanded its media presence, streaming live services across all major social platforms, and adopted a hybrid model with both physical and virtual weekly services.
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(A company limited by guarantee)
KICC THE CITY OF REFUGE
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 29 FEBRUARY 2024
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 (2023-2030)
Looking ahead, KICC The City of Refuge aims to achieve significant growth and impact through the following initiatives:
-
Expanding Media Presence: Strengthening engagement across all social media platforms.
-
Growing CHF Centres: Establishing more CHF Centres in and around Manchester.
-
Leadership Development: Providing comprehensive training for leaders to enhance departmental and group management.
-
Youth & Children’s Ministries: Enhancing programming and potentially housing the TNT Ministry in a separate facility.
-
Saturday Supplementary School: Launching a school focused on core academic subjects, employing dedicated teaching staff.
-
University Engagement: Strengthening ‘Royals’ programmes to connect with university students.
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Evangelism and Outreach: Increasing the number of evangelistic and outreach meetings.
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Member Welfare: Reinforcing existing welfare practices and policies for greater impact.
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Workshops & Conferences: Hosting events tailored for young adults, men, and women to inspire growth.
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In-Reach Practices: Developing stronger practices to effectively meet the needs of members.
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Business Ventures: Exploring income-generating ventures to support church activities.
-
Opening New Chapels: Expanding the ministry by establishing additional chapels to foster growth
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KICC THE CITY OF REFUGE
(A company limited by guarantee)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 29 FEBRUARY 2024
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;
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observe the methods and principles of the Charities SORP (FRS 102);
-
make judgments and accounting estimates that are reasonable and prudent;
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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 26 November 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 29 FEBRUARY 2024
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 29 February 2024.
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:
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accounting records were not kept in respect of the company as required by section 386 of the 2006 Act; or
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the accounts do not accord with those records; or
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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: 26 November 2024
Dean Dairo MSc FCCA
Dean Howard & Co
Chartered Certified Accountants Unit F55 Expressway Studios 1 Dock Road
Page 6
KICC THE CITY OF REFUGE (A company limited by guarantee)
INDEPENDENT EXAMINER'S REPORT (CONTINUED) FOR THE YEAR ENDED 29 FEBRUARY 2024
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 29 FEBRUARY 2024
| Note Income from: Donations and legacies 3 Investments 4 Total income Expenditure on: Charitable activities 5 Total expenditure Net movement in funds Reconciliation of funds: Total funds brought forward Net movement in funds Total funds carried forward |
Unrestricted funds 2024 £ 25,036 53 25,089 46,965 46,965 (21,876) (16,922) (21,876) (38,798) |
Total funds 2024 £ 25,036 53 25,089 46,965 46,965 (21,876) (16,922) (21,876) (38,798) |
Total funds 2023 £ 44,256 - 44,256 52,409 52,409 (8,153) (8,769) (8,153) (16,922) |
|---|---|---|---|
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 29 FEBRUARY 2024
| Note Fixed assets Tangible assets 9 Current assets Debtors 10 Cash at bank and in hand Creditors: amounts falling due within one year 11 Net current liabilities Total assets less current liabilities Net liabilities excluding pension asset Total net assets Charity funds Unrestricted funds 12 Total funds |
5,674 5,703 11,377 (54,921) |
29 February 2024 £ 4,746 4,746 (43,544) (38,798) (38,798) (38,798) (38,798) (38,798) |
840 13,140 13,980 (37,231) |
28 February 2023 £ 6,329 6,329 (23,251) (16,922) (16,922) (16,922) (16,922) (16,922) |
|---|---|---|---|---|
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 26 November 2024 and signed on their behalf by:
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KICC THE CITY OF REFUGE (A company limited by guarantee) REGISTERED NUMBER: 8239175
BALANCE SHEET (CONTINUED) AS AT 29 FEBRUARY 2024
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 29 FEBRUARY 2024
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.
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 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.
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KICC THE CITY OF REFUGE
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 FEBRUARY 2024
2. Accounting policies (continued)
2.4 Tangible fixed assets and depreciation (continued)
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:
- Fixtures and fittings 25% on reducing balance - Office equipment 25% on reducing balance
2.5 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.
2.6 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.
2.7 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.
2.8 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.
Investment income, gains and losses are allocated to the appropriate fund.
3. Income from donations and legacies
| Unrestricted | Total | Total |
|---|---|---|
| funds | funds | funds |
| 2024 | 2024 | 2023 |
| £ | £ | £ |
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KICC THE CITY OF REFUGE
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 FEBRUARY 2024
| 3. Income from donations and legacies (continued) Donations Total 2023 4. Investment income Investment income 5. Analysis of expenditure on charitable activities Summary by fund type Charitiable activities Total 2023 |
Unrestricted funds 2024 £ 25,036 44,256 Unrestricted funds 2024 £ 53 Unrestricted funds 2024 £ 46,965 52,409 |
Total funds 2024 £ 25,036 44,256 Total funds 2024 £ 53 Total 2024 £ 46,965 52,409 |
Total funds 2023 £ 44,256 |
|---|---|---|---|
| Total funds 2023 £ - |
|||
| Total 2023 £ 52,409 |
|||
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KICC THE CITY OF REFUGE
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 FEBRUARY 2024
6. Analysis of expenditure by activities
| Charitable activities Total 2023 |
Activities undertaken directly 2024 £ 550 - |
Support costs 2024 £ 46,415 52,409 |
Total funds 2024 £ 46,965 52,409 |
Total funds 2023 £ 52,409 |
|---|---|---|---|---|
Page 14
(A company limited by guarantee)
KICC THE CITY OF REFUGE
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 FEBRUARY 2024
6. 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 Depreciation - church equipment Depreciation - fixtures and fittings Sunday school/Youth ministry Welfare Honorarium Wages and salaries Pension costs Motor expenses Total 2023 |
Activities 2024 £ 2,205 215 506 550 1,329 548 41 1,416 6 7,200 236 314 - - 1,392 - 98 1,545 37 159 187 1,008 26,471 794 158 46,415 52,409 |
Total funds 2024 £ 2,205 215 506 550 1,329 548 41 1,416 6 7,200 236 314 - - 1,392 - 98 1,545 37 159 187 1,008 26,471 794 158 46,415 52,409 |
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 |
|---|---|---|---|
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KICC THE CITY OF REFUGE
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 FEBRUARY 2024
7. Independent examiner's remuneration
The independent examiner's remuneration amounts to an independent examiner fee of £1,237 ( 2023 - £1,125 ).
8. Trustees' remuneration and expenses
During the year, no Trustees received any remuneration or other benefits (2023 - £NIL) .
During the year ended 29 February 2024, no Trustee expenses have been incurred (2023 - £NIL) .
9. Tangible fixed assets
| Cost or valuation At 1 March 2023 At 29 February 2024 Depreciation At 1 March 2023 Charge for the year At 29 February 2024 Net book value At 29 February 2024 At 28 February 2023 |
Fixtures and fittings £ 1,501 1,501 1,353 37 1,390 111 148 |
Church equipment £ 17,823 17,823 11,642 1,545 13,187 4,636 6,181 |
Total £ 19,324 |
|---|---|---|---|
| 19,324 | |||
| 12,995 1,582 |
|||
| 14,577 | |||
| 4,747 | |||
| 6,329 |
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(A company limited by guarantee)
KICC THE CITY OF REFUGE
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 FEBRUARY 2024
10. Debtors
| Due after more than one year Other debtors Due within one year Other debtors |
29 February 2024 £ 4,874 4,874 800 5,674 |
28 February 2023 £ - |
|---|---|---|
| - 840 |
||
| 840 |
11. Creditors: Amounts falling due within one year
| Other taxation and social security Pension fund loan payable Other creditors Accruals and deferred income |
29 February 2024 £ 2,371 940 49,650 1,960 54,921 |
28 February 2023 £ 1,482 168 34,581 1,000 |
|---|---|---|
| 37,231 |
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(A company limited by guarantee)
KICC THE CITY OF REFUGE
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 FEBRUARY 2024
12. 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 2023 £ (16,922) Balance at 1 March 2022 £ (8,769) |
Income £ 25,089 Income £ 44,256 |
Expenditure £ (46,965) Expenditure £ (52,409) |
Balance at 29 February 2024 £ (38,798) Balance at 28 February 2023 £ (16,922) |
|---|---|---|---|---|
13. Summary of funds
| Summary of funds - current year General funds Summary of funds - prior year General funds |
Balance at 1 March 2023 £ (16,922) Balance at 1 March 2022 £ (8,769) |
Income £ 25,089 Income £ 44,256 |
Expenditure £ (46,965) Expenditure £ (52,409) |
Balance at 29 February 2024 £ (38,798) Balance at 28 February 2023 £ (16,922) |
|---|---|---|---|---|
14. Pension commitments
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KICC THE CITY OF REFUGE
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 FEBRUARY 2024
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 (2023 - £794). Contributions totalling £168 (2023 - £168) were payable to the fund at the balance sheet date and are included in creditors.
15. 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 29 February 2024.
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