Charity number: 1152925
KINGSWORD INTERNATIONAL CHURCH
Report of the Trustees and Unaudited Financial Statements
For the year ended 30 November 2020
INTRACHARTERED LTD. 85 GREAT PORTLAND STREET LONDON W1W 7LT
KINGSWORD INTERNATIONAL CHURCH Contents Page For the year ended 30 November 2020
| Report of the Trustees | 1 to 6 |
|---|---|
| Independent Examiner's Report to the Trustees | 7 |
| Statement of Financial Activities | 8 |
| Statement of Financial Position | 9 |
| Notes to the Financial Statements | 10 to 16 |
| Detailed Statement of Financial Activities | 17 to 18 |
KINGSWORD INTERNATIONAL CHURCH
Report of the Trustees
For the year ended 30 November 2020
The Trustees have pleasure in presenting their report and the financial statements for the charity for the year ended 30 November 2020. The Trustees have adopted the provisions of 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 the Republic of Ireland (FRS 102) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES
The Charity's objectives are:
- The advancement of the Christian religion worldwide.
The relief of poverty, sickness and financial hardship worldwide
To promote and preserve good health through the provision of funds, goods or services of any kind.
- To advance education in accordance with Christian principles.
Objectives and aims
The Charity's main objectives for the year were:
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The continuous spread of the Christian faith.
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To achieve and maintain active engagement with our community and the surrounding boroughs.
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To achieve significant growth in attendance of all our services.
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Building and developing relationships with other charities in the United Kingdom and around the world and showing our support
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through various means.
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Developing the charity's web presence, reaching out and engaging with our community of online followers.
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Review all events in line with our strategic goals and then agree on events based on relevance to KingsWord International
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Church.
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To appoint, train and develop new volunteers into various key roles to improve processes for handling departments and request.
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The strategies employed to achieve these objectives include:
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Regular review of achievement and performance against the charity's objectives.
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Monthly prayer and inspirational meetings with church members.
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Improving and developing the charity's outreach in the local community as well as online and on social media.
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Improving the quality of programmes and activities across the charity's children and youth ministries, community initiatives and mission projects. - Fundraising to finance the objectives.
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KINGSWORD INTERNATIONAL CHURCH Report of the Trustees Continued
For the year ended 30 November 2020
Statement on public benefit
Public Benefit Statement
In determining how best to pursue these objectives the trustees have taken on board the Charity Commission's general guidance on public benefit and in particular its supplementary public benefit guidance on the advancement of religion for public benefit.
It pursues these objects by the operation of a centre for Christian worship at its premises in Charlton, London. The charity runs a number of community-based vehicles of transformation that focus on assisting the disadvantaged & less well off in its local communities and abroad.
Our site is a venue that's accessible to all when programmes are being run, and events cater to people from all works of life. We run youth, marriage, children, men and women-based events.
Ministry and Outreach Departments
KingsWord International Church benefits the public by currently providing services through our various ministries which are available to members of the church and the wider community. The services include:
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Pre-marital counselling and classes
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Pastoral care and support for the bereaved.
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Welfare and benevolence support
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Career counselling
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Hospital visits
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Career advice
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Women's and Men's ministries and events
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Youth and young adult's ministries and events
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Children ministries and events
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Singles' ministries and events
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Business and career workshops
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Library stocked up with Christain faith-based books, and teachings on USB sticks, CDs and DVDs.
Volunteers
The charity relies on volunteers to support the activities that are run through the year. Over 20 volunteers served in the various church departments during the year. The trustees are very grateful to the many volunteers who help by staffing our prayer sessions and conferences.
Other activities carried out solely by our volunteer resource includes weekly multimedia production and projection activities, welfare and benevolence support, outreach and evangelism, hospitality (catering for guests at services), children and teenage church volunteers.
ACHIEVEMENTS AND PERFORMANCE
Due to the lockdown in 2020, many of the church's annual activities were cancelled. This impacted the church's ability to carry out its usual activities for the year. However, key activities were organised to support individuals and families in the community during the pandemic.
Throughout the year we continued to broadcast our services for viewers in the UK and around the world.
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KINGSWORD INTERNATIONAL CHURCH
Report of the Trustees Continued
For the year ended 30 November 2020
Significant activities
Prayer and Healing Conference
We organised a prayer and healing conference in early March 2020 (before the lockdown) to encourage people on the subject of prayer, fellowship and healing. This event was open to the public.
Hacked - Cyber Security Training
This educational event was set up for young people between the ages of 12-15 and also for families. boys between the ages of 11 - 15 and for families. The event focused on ensuring a safe environment for the family while using the internet.
Empowerment Session
This event was organised to support people with getting into new jobs, businesses and personal development. With the impact of the pandemic, people's livelihoods were adversely affected. This event for the community was aimed at restoring confidence and helping people to begin hoping for a better future.
Worship Conference - Proskuneo (A night dedicated wholly to praise, worship and prophecy).
Broadcasted from our meeting location due to covid concessions, we streamed our worship conference to viewers around the UK.
Connect Groups
These include regular weekly online meetings made up of families and individuals. The aim is to create a friendly and relaxed community for people to share their life experiences and be encouraged via lessons from biblical teachings. In this informal space, people get to pray for one another, get to know each other better, develop friendship, and support each other.
Other activities
There were other activities held during the course of the year, some of which are:
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Quarterly Online Prayer Meetings and fasting exercise
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Christmas and New Year's Eve service for the general public in commemoration of the birth of Christ Jesus and the season's celebrations.
As part of their pastoral remit, our Pastors and ministers look after the spiritual well-being of the members and adherents at the church, and this would include the regular conduct of christening ceremonies.
The charity raised money and contributed to other charities during the year including Kenneth Copeland Ministries, House on the Rock London and the Greenwich Foodbank - The Trussell Trust. We continue to identify and support more individuals, families, and charities.
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KINGSWORD INTERNATIONAL CHURCH Report of the Trustees Continued
For the year ended 30 November 2020
FINANCIAL REVIEW
Principal Funding
The charity's principal funding is through members' contributions and donations.
There was a £1,505 increase in gross income to £102,413 (2020) compared to £100,908 (2019). The net income was £8630 an improvement of £17,346 on the deficit of £8716 in 2019.
Principal Funding
The charity's principal funding is through members' contributions and donations.
Plans for the future
The charity plans continuing the activities outlined above in the forthcoming years and will continue to develop the infrastructure required to support the charity. Having taken up residence in a new facility, the charity has plans to provide more community-based events and activities relevant to local residents. There are also plans to support local food banks in the community.
Statement of Responsibilities of The Trustees
The trustees are required to prepare financial statements for each financial year, which give a true and fair view of the state of affairs of the charity and the incoming resources and application of resources, including the net income or expenditure, of the charity for the year. In preparing those financial statements, the trustees are required to:
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select suitable accounting policies and then apply them consistently;
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make judgements and estimates that are reasonable and prudent;
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state whether applicable accounting standards and statements of recommended practice have been followed, subject to any
material departures disclosed and explained in the financial statements; and
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in
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operation.
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and which enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations and the provisions of the trust deed. The trustees are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Reserves
Reserves Policy
The Trustees recognise that reserves are required in order to ensure the long-term viability of the charity against an unforeseen reduction in income or increase in expenditure and to ensure the continuity of the charity's objects. The trustees maintain unrestricted funds which have not been designated for specific use at a level equivalent to two month's expenditures. The trustees consider that reserves at this level will ensure that, in the unlikely event of a significant drop in funding, they will be able to continue with the charity's current activities while consideration is given to ways to which additional funds may be raised.
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KINGSWORD INTERNATIONAL CHURCH Report of the Trustees Continued
For the year ended 30 November 2020
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
Constitution
The church is constituted under a Trust Deed dated the 6th of March 2013 and is a registered Charity in the UK with number 1152925.
Organisational Structure and Decision Making
The church is organised such that the day to day running of the church has been delegated to the parish Pastor and the spiritual leadership. The trustees are consulted on all issues that are material in nature and determine the strategic direction of the charity's affairs. Trustees meet formally and when required to review the church's operations. The trustees are required by the trust deed to meet at least twice a year.
Connected Charities
KingsWord International Church is a member of KingsWord Ministries International which has parishes in different countries across Africa and the United States of America. The relationship is governed by an 'Agreement of common purposes' between the parishes and KingsWord Ministries International.
Risk Management
The Trustees have assessed the major risks to which the charity is exposed, particularly, those related to the operations and the finances of the charity. The trustees believe that by establishing a reserve and ensuring controls exist over key financial systems and by examining the operational risks faced by the charity, they have established effective systems to mitigate the charities exposure to these risks.
Recruitment and appointment of trustees
Methods of Appointment or Election of Trustees
The management of the Church is the responsibility of the Trustees who are elected and co-opted under the terms of the Trust deed.
Policies Adopted for the Induction and Training of Trustees
New trustees are issued with an induction pack that details their legal obligations under charity law, the charities decision-making processes and recent financial performance of the charity. Trustees are encouraged to attend appropriate external training events where these will facilitate the undertaking of their role. Charities commission bulletins/updates are also forwarded to Trustees as and when issued.
REFERENCE AND ADMINISTRATIVE INFORMATION
Name of Charity KINGSWORD INTERNATIONAL CHURCH Charity registration number 1152925 Principal address Standard House 107 - 115 Eastmoor Street London SE7 8LX
Trustees
The trustees and officers serving during the year and since the year end were as follows:
Mr. Adeyinka Johnson Popoola Mr Olusola Ayoola Osinoiki Mr. Adedotun Olubunmi Oragbade Senior management Pastor Emmanuel Akinlaja (Minister in Charge) Independent examiners OLUSEYE A.D MABOGUNJE FCCA, FIFA, FIPA 85 GREAT PORTLAND STREET LONDON W1W 7LT
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KINGSWORD INTERNATIONAL CHURCH
Independent Examiners Report to the Trustees
For the year ended 30 November 2020
I report to the trustees on my examination of the accounts of the charity for the year ended 30 November 2020.
Responsibilities and basis of report
As the charity trustees, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the 2011 Act').
I report in respect of my examination of the charity’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiners 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 that in any material respect:
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accounting records were not kept in respect of the Charity as required by section 130 of the 2011 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 applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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.
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.
INTRACHARTERED LTD.
OLUSEYE A.D MABOGUNJE FFA, FIPA
85 GREAT PORTLAND STREET
LONDON
W1W 7LT
28 August 2021
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KINGSWORD INTERNATIONAL CHURCH
Statement of Financial Activities
For the year ended 30 November 2020
| Notes | Unrestricted | Restricted | 2020 | 2019 | |
|---|---|---|---|---|---|
| funds | funds | ||||
| £ | £ | £ | £ | ||
| Income and endowments from: | |||||
| Donations and legacies | 2 | 85,764 | 3,065 | 88,829 | 97,357 |
| Charitable activities | 3 | 14,500 | - | 14,500 | 3,535 |
| Investments | 4 | (916) | - | (916) | 16 |
| Total | 99,348 | 3,065 | 102,413 | 100,908 | |
| Expenditure on: | |||||
| Raising funds | 5 | (2,066) | - | (2,066) | 2,512 |
| Charitable activities | 6/7 | (91,717) | - | (91,717) | (112,136) |
| Total | (93,783) | - | (93,783) | (109,624) | |
| Net income/expenditure | 5,565 | 3,065 | 8,630 | (8,716) | |
| Reconciliation of funds | |||||
| Total funds brought forward | (6,928) | 11,113 | 4,185 | 12,901 | |
| Total funds carried forward | (1,363) | 14,178 | 12,815 | 4,185 |
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KINGSWORD INTERNATIONAL CHURCH StaterTEllt of Financial Poytion Asèt 30 November 2020 20ZO Z019 li 2AOI 2,282 Its2 Currtnt4S9èts Debtors 15,749 4.2 16.749 13791 Cash * bènkand hhand 2L251 I6.0 CMdkoN.' ImountslalmdEY#hknOnE•1 13 lJ4,4671 Ntt ¢Urr¢rttAts 10,014 i.3 TDtalass•ts lèucurrnfit IW¥tb 4185 UJ15 4185 Tho lurAtsdthedMr#v Restrlcted ir(omtfUj 14 14.178 11.113 Unre5rrlcred Inwm•fun 14 T•toltunds 12,115 Thfln1nC1StsthmQntWere•pYUrfedd tyJtWMdfvJrW lhe bowd4nds ts.. Mf. ldedotynolvtrt Orn#d* Tru$1 9of18
KINGSWORD INTERNATIONAL CHURCH Notes to the Financial Statements
For the year ended 30 November 2020
1. Accounting Policies
Basis of accounting
The financial statements have been prepared under the historical cost convention, except for investments which are included at market value and the revaluation of certain fixed assets and 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 2019)’, Financial Reporting Standard 102 the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), and the Charities Act 2011.
KINGSWORD INTERNATIONAL CHURCH 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 note(s).
Funds
Fund Accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Incoming resources
All incoming resources are included in the statement of financial activities when the Charity is entitled to the income and the amount can be quantified with reasonable accuracy. The following specific policies are applied to particular categories of income:
Resources expended
Liabilities are recognised as resources expended when there is a legal or constructive obligation committing the Charity to the expenditure:
Tangible fixed assets
Alll assets costing more than £1000 are capitalised. Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Audio visual equipment and church furntiture 33.33 Straignt line
2. Income from donations and legacies
| Unrestricted | Restricted | 2020 | 2019 | |
|---|---|---|---|---|
| funds | funds | |||
| £ | £ | £ | £ | |
| Donations received | 85,764 | 3,065 | 88,829 | 97,357 |
| 85,764 | 3,065 | 88,829 | 97,357 |
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KINGSWORD INTERNATIONAL CHURCH Notes to the Financial Statements Continued
For the year ended 30 November 2020
3. Income from charitable activities
| Unrestricted funds The advancement of the Christian religion worldwide. Income from charitable activities vestment income Unrestricted funds Bank interest receivable xpenditure on generating donations and legacies Unrestricted funds Donations osts of charitable activities by fund type Unrestricted funds The advancement of the Christian religion worldwide. The relief of poverty, sickness and financial hardship worldwide To advance education in accordance with Christian principles. Support costs |
2020 £ 14,500 2020 £ (916) (916) 2020 £ 2,066 2,066 2020 £ 84,386 850 - 6,481 91,717 |
2019 £ 3,535 2019 £ 16 |
|---|---|---|
| 16 | ||
| 2019 £ (2,512) |
||
| (2,512) | ||
| 2019 £ 81,078 8,471 97 22,490 |
||
| 112,136 |
4. Investment income
5. Expenditure on generating donations and legacies
6. Costs of charitable activities by fund type
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KINGSWORD INTERNATIONAL CHURCH
Notes to the Financial Statements Continued
For the year ended 30 November 2020
7. Costs of charitable activities by activity type
| Support costs The advancement of the Christian religion worldwide. The relief of poverty, sickness and financial hardship worldwide To advance education in accordance with Christian principles. Governance costs nalysis of support costs The advancement of the Christian religion worldwide. Management Equipments expensed Travel & subsistence Volunteers expenses Premises Governance costs |
Support costs Activities undertaken directly £ £ 3,426 84,386 - 850 - - 3,055 - 85,236 6,481 |
2020 £ 87,812 850 - 3,055 91,717 2020 £ 1,755 1,439 232 - - 3,055 6,481 |
2019 £ 100,135 8,471 97 3,433 |
|---|---|---|---|
| 112,136 | |||
| 2019 £ 13,271 698 1,508 45 3,535 3,433 |
|||
| 22,490 |
8. Analysis of support costs
9. Net income/(expenditure) for the year
This is stated after charging/(crediting):
| This is stated after charging/(crediting): | ||||
|---|---|---|---|---|
| 2020 | 2019 | |||
| £ | £ | |||
| Depreciation of owned fixed assets | 2,066 | 2,898 | ||
| Accountancy fees | 1,032 | 1,752 |
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KINGSWORD INTERNATIONAL CHURCH
Notes to the Financial Statements Continued
For the year ended 30 November 2020
10. Comparative for the Statement of Financial Activities
| Income and endowments from: Donations and legacies Charitable activities Investments Total Expenditure on: Raising funds Charitable activities Total Net income/expenditure Reconciliation of funds Total funds brought forward Total funds carried forward |
Unrestricted funds £ 97,357 - 16 97,373 2,512 (108,601) (106,089) (8,716) 1,788 (6,928) |
Restricted funds £ - 3,535 - 3,535 - (3,535) (3,535) - 11,113 11,113 |
2019 £ 97,357 3,535 16 |
|---|---|---|---|
| 100,908 | |||
| 2,512 (112,136) |
|||
| (109,624) | |||
| (8,716) 12,901 |
|||
| 4,185 |
11. Tangible fixed assets
| Cost or valuation At 01 December 2019 Additions At 30 November 2020 Depreciation At 01 December 2019 At 30 November 2020 Net book values At 30 November 2020 At 30 November 2019 |
Fixtures and Fittings £ 11,606 2,585 |
|---|---|
| 14,191 | |
| - | |
| - | |
| 14,191 | |
| 11,606 |
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and machinery: 25%
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Notes to the Financial Statements Continued
KINGSWORD INTERNATIONAL CHURCH
For the year ended 30 November 2020
12. Debtors
| Amounts due after more than one year: Trade debtors Creditors: amounts falling due within one year Trade creditors Other creditors |
2020 £ 16,749 16,749 2020 £ 603 10,634 11,237 |
2019 £ 16,749 |
|---|---|---|
| 16,749 | ||
| 2019 £ 571 13,896 |
||
| 14,467 |
13. Creditors: amounts falling due within one year
14. Movement in funds
Unrestricted Funds
| Balance at | Incoming | Outgoing | Balance at | |
|---|---|---|---|---|
| 01/12/2019 | resources | resources | 30/11/2020 | |
| £ | £ | £ | £ | |
| General | ||||
| General | (6,928) | 99,348 | (93,783) | (1,363) |
| (6,928) | 99,348 | (93,783) | (1,363) | |
| Unrestricted Funds - Previous year | ||||
| Balance at | Incoming | Outgoing | Balance at | |
| 01/12/2018 | resources | resources | 30/11/2019 | |
| £ | £ | £ | £ | |
| General | ||||
| General | 1,788 | 97,373 | (106,089) | (6,928) |
| 1,788 | 97,373 | (106,089) | (6,928) |
Purpose of unrestricted Funds
General
The General Fund is an unrestricted fund and can be used in accordance with the charitable objectives at the discretion of the trustees.
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KINGSWORD INTERNATIONAL CHURCH
Notes to the Financial Statements Continued
For the year ended 30 November 2020
Restricted Funds
| Graceland Restricted Funds - Previous year Graceland Purpose of restricted funds Graceland |
Balance at 01/12/2019 £ 11,113 11,113 Balance at 01/12/2018 £ 11,113 11,113 |
Incoming resources £ 3,065 3,065 Incoming resources £ 3,535 3,535 |
Outgoing resources £ - - Outgoing resources £ (3,535) (3,535) |
Balance at 30/11/2020 £ 14,178 |
|---|---|---|---|---|
| 14,178 | ||||
| Balance at 30/11/2019 £ 11,113 |
||||
| 11,113 | ||||
Graceland fund relates to voluntory giving for the Graceland building project.
| 15. Analysis of net assets between funds | |||
|---|---|---|---|
| Tangible fixed | Net current | Net Assets | |
| assets | assets / | ||
| (liabilities) | |||
| £ | £ | £ | |
| Unrestricted funds | |||
| General | |||
| General | 2,801 | (4,164) | (1,363) |
| Restricted funds | |||
| Graceland | - | 14,178 | 14,178 |
| 2,801 | 10,014 | 12,815 |
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KINGSWORD INTERNATIONAL CHURCH
Notes to the Financial Statements Continued
For the year ended 30 November 2020
Previous year
| Previous year | |||
|---|---|---|---|
| Tangible fixed | Net current | Net Assets | |
| assets | assets / | ||
| (liabilities) | |||
| £ | £ | £ | |
| Unrestricted funds | |||
| General | |||
| General | 2,282 | (9,210) | (6,928) |
| Restricted funds | |||
| Graceland | - | 11,113 | 11,113 |
| 2,282 | 1,903 | 4,185 |
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KINGSWORD INTERNATIONAL CHURCH Detailed Statement of Financial Activities
For the year ended 30 November 2020
| INCOME AND ENDOWMENT Donations and legacies Donations Charitable activities Income From Charitable Activities (The Advancement Of The Christian Religion Worldwide.) Investments Bank Interest Receivable Total incoming resources EXPENDITURE Raising donations and legacies Donations Charitable activities Cost Of Direct Charitable Activity (The Advancement Of The Christian Religion Worldwide.) Cost Of Direct Charitable Activity (The Relief Of Poverty, Sickness And Financial Hardship Worldwide) Cost Of Direct Charitable Activity (To Advance Education In Accordance With Christian Principles.) SUPPORT COSTS Management Management (The Advancement Of The Christian Religion Worldwide.) Equipments expensed Equipments Expensed (The Advancement Of The Christian Religion Worldwide.) Travel & subsistence Travel & Subsistence (The Advancement Of The Christian Religion Worldwide.) Volunteers expenses Volunteers Expenses (The Advancement Of The Christian Religion Worldwide.) |
£ 2020 88,829 88,829 14,500 14,500 (916) (916) 102,413 (2,066) (2,066) (84,386) (850) - (85,236) (1,755) (1,755) (1,439) (1,439) (232) (232) - - |
£ 2019 97,357 |
|---|---|---|
| 97,357 3,535 |
||
| 3,535 16 |
||
| 16 | ||
| 100,908 2,512 |
||
| 2,512 (81,078) (8,471) (97) |
||
| (89,646) (13,271) |
||
| (13,271) (698) |
||
| (698) (1,508) |
||
| (1,508) (45) |
||
| (45) |
Premises
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This page does not form part of the statutory financial statements
KINGSWORD INTERNATIONAL CHURCH
Detailed Statement of Financial Activities Continued
For the year ended 30 November 2020
Premises (The Advancement Of The Christian Religion Worldwide.)
| Premises (The Advancement Of The Christian Religion Worldwide.) Governance costs Governance Costs (Governance Costs) otal resources expended et Income |
- - (3,055) (3,055) (93,783) 8,630 |
(3,535) |
| (3,535) (3,433) |
||
| (3,433) | ||
| (109,624) | ||
| (8,716) |
Total resources expended
Net Income
18 of 18 This page does not form part of the statutory financial statements