## _Intrachartered Ltd._
BUSINESS ADVISORS • CHARTERED ACCOUNTANTS •
Mrs Adenike Duro-Ishola Standard House 107 - 115 Eastmoor Street London SE7 8LX Kingsword International Church Ltd
27 September 2022
Dear Adenike,
## **Accounts for Period ended 30/11/2021**
Please find attached final accounts for Kingsword International Church Ltd for the period ended 30/11/2021 [including filleted/abbreviated accounts if appropriate].
Please review the attached carefully and if you are happy that the accounts can be approved please print out a set of each of the attached documents, obtain appropriate signatures at the foot of each Balance Sheet [and Directors Report, if relevant] and return the signed documents to this office.
Please do not hesitate to contact us if you have any queries.
Yours sincerely,
Oluseye Mabogunje
## **Kingsword International Church Ltd**
**Charity No. 1152925**
**Trustees' Report and Unaudited Accounts**
**30 November 2021**
**Kingsword International Church Ltd Contents**
||Pages|
|---|---|
|Trustees' Annual Report|2 to 7|
|Independent Examiner's Report|8|
|Statement of Financial Activities|9|
|Balance Sheet|10|
|Notes to the Accounts|11 to 16|
|Detailed Statement of Financial Activities|17 to 18|
Page 1
**Kingsword International Church Ltd Trustees Annual Report**
The trustees present their report with the unaudited financial statements of the charity for the year ended 30 November 2021.
## **REFERENCE AND ADMINISTRATIVE DETAILS**
## **Charity No. 1152925**
## **Principal Office**
Standard House 107 - 115 Eastmoor Street London SE7 8LX
## **Trustees**
The following trustees served during the year:
A.O. Oragbade O.A. Osinoiki A.J. Popoola
## **Founder**
Dr Kayode Adeyeye Ijisesan
## **Key Management Personnel**
Minister in Charge Pastor Emmanuel Akinlaja
## **Accountants**
Intrachartered Ltd 85 Great Portland Street London W1W 7LT
## **Bankers**
Barclays Bank 1 Churchill Place Canary Wharf London E14 5HP
## **Solicitors**
David & Vine Solicitors Suite 8, 63 Broadway Stratford London E14 4BQ
Page 2
**Kingsword International Church Ltd Trustees Annual Report**
## **OBJECTIVES AND ACTIVITIES**
The purpose of the charity as set out in its governing document: - 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.
## **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:
- Pre-marital counselling and classes
- Pastoral care and support for the bereaved.
- Welfare and benevolence support
- Career counselling and advice
- Women's and Men's ministries and events
- Youth and young adult’s ministries and events
- Children ministries and events
- Singles' ministries and events
- Business and career workshops - Library stocked up with Christian faith-based books, and teachings on USB, CDs and DVDs.
During the Year the following programmes were held in furtherance of the Charity's objectives:
## **Succeeding At & Beyond University Seminar**
We organised two seminars for international post graduate students who recently arrived in the UK. The purpose of the conference was to educate international students on the differences in the UK education system and how to effectively transition from their studied to a working life in the UK. This event was open to the public, and well received by the delegates a majority of which were not members of the church.
Page 3
**Kingsword International Church Ltd Trustees Annual Report**
## I **mmigration Seminar**
With all the recent changes in the UK, we organised a visa and immigration seminar with an immigration solicitor who shared the different visa routes and answered questions on the various cases that were shared. The event was open to the public and the majority of attendees were not members of the church.
## **Worship Conference - Proskuneo (A night dedicated wholly to praise, worship and prophecy)**
With the lockdown well over, we were able to meet together again and we also streamed our worship conference to viewers around the UK and the globe. It was a time for people from all works of life and the community to gather together in worship.
## E **mpowerment Session**
This event was organised to support people in or with relationship and marriages. With the impact of the pandemic, people’s relationships and marriage were sometimes adversely affected.
## **Christmas Appeal**
The charity raised funds and provided food items, toys and other items to 101 families in a local primary school within 1 mile of the church as part of their Christmas appeal. Funds were raised from the members of the church and some members of the public.
## **Other activities**
There were other activities held during the course of the year, some of which are:
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 Connect group meetings, well-being visits, babptisms and christening ceremonies.
The charity raised money and contributed to other charities in the UK 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.
The charity relies on volunteers to support the activities that are run through the year. Over 30 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, meetings, 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.
Page 4
**Kingsword International Church Ltd Trustees Annual Report**
## **ACHIEVEMENTS AND PERFORMANCE**
Due to the lockdown through part of 2021, many of the church’s annual activities were carried out online. However, key activities were organised in person later in the year to support individuals and families in the community. Throughout the year we continued to broadcast our services for viewers in the UK and around the world.
## **FINANCIAL REVIEW**
## **Principal Funding**
The charity's principal funding is through members' contributions and donations.
There was a £26,575 improvement in gross income to £128,988 (2021) compared to £102,413 (2020). However the net expenditure was (£24,561) a deficit of £33,191 compared to a net income of £8630 in the prior year. The expenditure for the year ended is £153,549 and therefore the targeted reserves should be £25,592 as against the current reserves of (£11,746). However, the trustees are of the opinion that with the lifting of the Covid-19 lockdown and normalisation of activities the charity is in a position to continue to meet its obligations and build back its 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 months’ 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.
## **PLANS FOR FUTURE PERIODS**
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.
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
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.
Page 5
**Kingsword International Church Ltd Trustees Annual Report**
## **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.
## **Statement of trustees' responsibilities in relation to the financial statements**
The charity trustees are responsible for preparing a trustees' annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the applicable Charities (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 taking reasonable steps for the prevention and detection of fraud and other irregularities.
Page 6
**Kingsword International Church Ltd Trustees Annual Report**
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:
- select suitable accounting policies and then apply them consistently;
- make judgements and estimates that are reasonable and prudent;
- 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
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in 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.
Signed on behalf of the charity's trustees
A.O. Oragbade Trustee 26 September 2022
Page 7
**Kingsword International Church Ltd Independent Examiners Report**
## **Independent Examiner's Report to the trustees of Kingsword International Church Ltd**
I report to the trustees on my examination of the financial statements of Kingsword International Church Ltd for the year ended 30 November 2021 which comprise the Statement of Financial Activities, the Balance Sheet and the related notes.
## **Responsibilities and basis of report**
As the charity's trustees you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011('the Act'). The trustees consider that an audit is not required for this year under the Charities Act 2011, s.144(2) (the 2011 Act) and that an independent examination is needed.
I report in respect of my examination of the charity's financial statements 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 examiner's statement**
I have completed my examination. I can confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in, any material respect:
- the accounting records were not kept in respect of the charity as required by section 130 of the Act; or
- the financial statements do not accord with those records; or
- the financial statements do not comply with the applicable requirements concerning the form and content of the financial statements set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the financial statements 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 financial statements to be reached.
## Oluseye Mabogunje
Oluseye Mabogunje FFA, FIPA
Intrachartered Ltd 85 Great Portland Street London W1W 7LT
26 September 2022
Page 8
**Kingsword International Church Ltd Statement of Financial Activities**
## **for the year ended 30 November 2021**
|**Notes**
**Income and endowments**
**from:**
Donations and legacies
3
Charitable activities
4
Investments
5
Other
6
**Total**
**Expenditure on:**
Charitable activities
7
Other
8
**Total**
Net gains on investments
**Net (expenditure)/income**
9
Transfers between funds
**Net (expenditure)/income**
**before other gains/(losses)**
**Other gains and losses**
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
**Total funds carried forward**||**Unrestricted**
**funds**|**Restricted**
**funds**|**Total funds**|**Total funds**|
|---|---|---|---|---|---|
|||**2021**|**2021**|**2021**|**2020**|
|||**£**|**£**|**£**|**£**|
|||||||
|||88,837|3,400|92,237|78,897|
|||17,117|-|17,117|14,500|
|||4|-|4|-|
|||19,630|-|19,630|9,016|
|||125,588|3,400|128,988|102,413|
|||||||
|||46,436|-|46,436|22,752|
|||89,535|17,578|107,113|71,031|
|||135,971|17,578|153,549|93,783|
|||-|-|-|-|
|||(10,383)|(14,178)|(24,561)|8,630|
|||-|-|-|-|
|||(10,383)|(14,178)|(24,561)|8,630|
|||||||
|||(10,383)|(14,178)|(24,561)|8,630|
|||||||
|||(1,363)|14,178|12,815|4,185|
|||(11,746)|-|(11,746)|12,815|
|||||||
|||||||
|||||||
Page 9
**Kingsword International Church Ltd Balance Sheet**
## **at 30 November 2021**
|**Charity No. 1152925**
**Fixed assets**
Tangible assets
11
**Current assets**
Debtors
12
Cash at bank and in hand
**Creditors:**Amount falling due within one year
13
**Net current (liabilities)/assets**
**Total assets less current liabilities**
**Net (liabilities)/assets excluding pension asset or liability**
**Total net (liabilities)/assets**
**The funds of the charity**
**Restricted funds**
14
Restricted income funds
**Unrestricted funds**
14
General funds
**Reserves**
14
**Total funds**|**2021**
**£**
9,654
9,654
16,749
3,772
20,521
(41,921)
(21,400)
(11,746)
(11,746)
(11,746)
-
-
(11,746)
(11,746)
(11,746)|**2020**
**£**
2,801|
|---|---|---|
|||2,801
16,749
4,502|
|||21,251
(11,237)|
|||10,014
12,815|
|||12,815|
|||12,815|
|||14,178|
|||14,178
(1,363)|
|||(1,363)|
|||12,815|
Approved by the trustees on 26 September 2022
And signed on their behalf by:
A.O. Oragbade Trustee 26 September 2022
Page 10
**Kingsword International Church Ltd Notes to the Accounts**
## **for the year ended 30 November 2021**
- 1 **Accounting policies**
## **Basis of preparation**
The financial statements have been prepared in accordance with Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic if Ireland (FRS 102) issued on 16 July 2014 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011.
## **Change in basis of accounting or to previous accounts**
There has been no change to the accounting policies (valuation rules and method of accounting) since last year and no changes have been made to accounts for previous years.
## **Fund accounting**
- Unrestricted funds These are available for use at the discretion of the trustees in furtherance of the general objects of the charity.
- Designated funds These are unrestricted funds earmarked by the trustees for particular purposes. Restricted funds These are available for use subject to restrictions imposed by the donor or through terms of an appeal.
## **Income**
- Recognition of Income is included in the Statement of Financial Activities (SoFA) when the charity income becomes entitled to, and virtually certain to receive, the income and the amount of the income can be measured with sufficient reliability.
- Income with related Where income has related expenditure the income and related expenditure is expenditure reported gross in the SoFA.
- Donations and Voluntary income received by way of grants, donations and gifts is included in the legacies the SoFA when receivable and only when the Charity has unconditional entitlement to the income.
- Tax reclaims on Income from tax reclaims is included in the SoFA at the same time as the donations and gifts gift/donation to which it relates. Donated services These are only included in income (with an equivalent amount in expenditure) and facilities where the benefit to the Charity is reasonably quantifiable, measurable and material.
- Volunteer help The value of any volunteer help received is not included in the accounts. Investment income This is included in the accounts when receivable.
Page 11
**Kingsword International Church Ltd Notes to the Accounts**
## **Expenditure**
- Recognition of Expenditure is recognised on an accruals basis. Expenditure includes any VAT which expenditure cannot be fully recovered, and is reported as part of the expenditure to which it relates.
- Expenditure on These comprise the costs associated with attracting voluntary income, fundraising raising funds trading costs and investment management costs. Expenditure on These comprise the costs incurred by the Charity in the delivery of its activities and charitable activities services in the furtherance of its objects, including the making of grants and governance costs.
- Grants payable All grant expenditure is accounted for on an actual paid basis plus an accrual for grants that have been approved by the trustees at the end of the year but not yet paid.
- Governance costs These include those costs associated with meeting the constitutional and statutory requirements of the Charity, including any audit/independent examination fees, costs linked to the strategic management of the Charity, together with a share of other administration costs.
- Other expenditure These are support costs not allocated to a particular activity.
## **Taxation**
The charity is exempt from tax on its charitable activities.
## **Tangible fixed assets and depreciation**
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life:
Fixtures and fittings 33.3%% Straight line
All 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.
## **Trade and other debtors**
Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
## **Cash and cash equivalents**
Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities. In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the company's cash management.
## **Trade and other creditors**
Short term creditors are measured at the transaction price. Other creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.
Page 12
**Kingsword International Church Ltd Notes to the Accounts**
## **Foreign currencies**
Monetary assets and liabilities denominated in currencies other than the functional currency of the charity are translated at the rates of exchange prevailing at the end of the reporting period.
Transactions in currencies other than the functional currency of the charity are recorded at the rate of exchange on the date that the transaction occurred.
All exchange differences are are taken into account in arriving at net income/expenditure.
## 2 **Statement of Financial Activities - prior year**
|**Income and endowments from:**
Donations and legacies
Charitable activities
Other
**Total**
**Expenditure on:**
Raising funds
Charitable activities
**Total**
**Net income**
**Net income before other**
**gains/(losses)**
**Other gains and losses:**
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
**Total funds carried forward**
3
**Income from donations and legacies**
Tithes and Offerings
4
**Income from charitable activities**
Graceland Rentals|**Unrestricted**
**£**
88,837
88,837|**Unrestricted**
**funds**
**2020**
**£**
75,832
14,500
9,016
99,348
2,066
91,717
93,783
5,565
5,565
5,565
(6,928)
(1,363)
**Restricted**
**£**
3,400
3,400
**Unrestricted**
**£**
17,117
17,117|**Restricted**
**funds**
**2020**
**£**
3,065
-
-
3,065
-
-
-
3,065
3,065
3,065
11,113
14,178
**Total**
**2021**
**£**
92,237
92,237
**Total**
**2021**
**£**
17,117
17,117|**Total funds**
**2020**
**£**
78,897
14,500
9,016|
|---|---|---|---|---|
|||||102,413
2,066
91,717|
|||||93,783|
|||||8,630|
|||||8,630|
|||||8,630
4,185|
|||||12,815|
|||||**Total**
**2020**
**£**
78,897|
|||||78,897|
|||||**Total**
**2020**
**£**
14,500|
|||||14,500|
Page 13
**Kingsword International Church Ltd Notes to the Accounts**
## 5 **Income from investments**
|6
**Other income**
7
**Expenditure on charitable activities**
_Expenditure on charitable_
_activities_
Graceland Rentals
_Governance costs_
Accounting Fees
Legal & Professional
Bank Charges
8
**Other expenditure**
Motor and travel costs
Premises costs
Amortisation, depreciation,
impairment, profit/loss on
disposal of fixed assets
General administrative costs|**Unrestricted**
**£**
2,860
72,613
3,008
11,054
89,535|**Unrestricted**
**£**
4
4
**Unrestricted**
**£**
733
18,834
63
19,630|**Total**
**2021**
**£**
4
4
**Total**
**2021**
**£**
733
18,834
63
19,630|**Total**
**2020**
**£**
-|
|---|---|---|---|---|
|||||-|
|||||**Total**
**2020**
**£**
-
8,591
425|
|||||9,016|
||||||
|||**Unrestricted**
**£**
12,120
18,366
13,758
1,033
13
1,146
46,436
**Restricted**
**£**
-
17,578
-
-
17,578|**Total**
**2021**
**£**
12,120
18,366
13,758
1,033
13
1,146
46,436
**Total**
**2021**
**£**
2,860
90,191
3,008
11,054
107,113|**Total**
**2020**
**£**
5,035
9,200
5,462
1,032
2,023
-|
|||||22,752|
|||||**Total**
**2020**
**£**
232
62,696
2,066
6,037|
|||||71,031|
Page 14
**Kingsword International Church Ltd Notes to the Accounts**
|9
**Net (expenditure)/income before transfers**
This is stated after charging:
Depreciation of owned fixed assets
Independent Examiner's fee
10 **Staff costs**
No employee received emoluments in excess of £60,000.
11 **Tangible fixed assets**
**Cost or revaluation**
At 1 December 2020
Additions
At 30 November 2021
**Depreciation and**
**impairment**
At 1 December 2020
Depreciation charge for the
year
At 30 November 2021
**Net book values**
At 30 November 2021
At 30 November 2020
12 **Debtors**
Other debtors
13 **Creditors:**
amounts falling due within one year
Other loans
Trade creditors
Other creditors|**2021**
**£**
3,008
1,033
**2021**
**£**
16,749
16,749
**2021**
**£**
5,272
36,213
436
41,921|**Fixtures and**
**fittings**
**£**
16,257
9,861
26,118
13,456
3,008
16,464
9,654
2,801|**2020**
**£**
2,066
1,032
**Total**
**£**
16,257
9,861|
|---|---|---|---|
||||26,118|
||||13,456
3,008|
||||16,464|
||||9,654|
||||2,801|
||||**2020**
**£**
16,749|
||||16,749|
||||**2020**
**£**
10,634
-
603|
||||11,237|
Page 15
**Kingsword International Church Ltd Notes to the Accounts**
## 14 **Movement in funds**
|14 **Movement in funds**||||
|---|---|---|---|
|**At 1**
**December**
**2020**
**Incoming**
**resources**
**(including**
**other**
**gains/losses**
**)**
**£**
**Restricted funds:**
**Restricted income funds:**
Grace Givers
14,178
3,400
_Total_
14,178
3,400
**Unrestricted funds:**
**General funds**
(1,363)
125,588
**Total funds**
12,815
128,988
Purposes and restrictions in relation to the funds:
Restricted funds:
Grace Givers
Payment of Church building related expenses
15 **Analysis of net assets between funds**
Fixed assets
Net current assets
16 **Reconciliation of net debt**
**At 1**
**December**
**2020**
**£**
Cash and cash equivalents
4,502
4,502
Borrowings
(10,634)
(10,634)
Net debt
(6,132)|**Incoming**
**resources**
**(including**
**other**
**gains/losses**
**)**
**£**
3,400
3,400
125,588
128,988|**Resources**
**expended**
**£**
(17,578)
(17,578)
(135,971)
(153,549)|**At 30**
**November**
**2021**
**£**
-|
||||-|
||||(11,746)|
||||(11,746)|
|||||
|||||
|||||
||**At 1**
**December**
**2020**
**£**|**Unrestricted**
**funds**
**£**
9,654
(21,400)
(11,746)
**Cash flows**
**£**|**Total**
**£**
9,654
(21,400)|
||||(11,746)|
||||**At 30**
**November**
**2021**
**£**|
||4,502|(730)|3,772|
||4,502
(10,634)|(730)|3,772
(5,272)|
|||5,362||
||(10,634)
(6,132)|5,362
4,632|(5,272)|
||||(1,500)|
|||||
Page 16
**Kingsword International Church Ltd Detailed Statement of Financial Activities**
## **for the year ended 30 November 2021**
|**Income and endowments from:**
Donations and legacies
Tithes and Offerings
Charitable activities
Graceland Rentals
Investments
Other
**Total income and endowments**
**Expenditure on:**
Charitable activities
Graceland Rentals
Governance costs
Accounting Fees
Legal & Professional
Bank Charges
**Total of expenditure on charitable**
**activities**
Motor and travel costs
Travel and subsistence
Premises costs
Rent
Light, heat and power
Premises repairs and
maintenance|**Unrestricte**
**d funds**
**2021**
**£**
88,837
88,837
17,117
17,117
4
4
733
18,834
63
19,630
125,588
12,120
18,366
13,758
44,244
1,033
13
1,146
2,192
46,436
2,860
2,860
49,422
22,398
793
72,613|**Restricted**
**funds**
**2021**
**£**
3,400
3,400
-
-
-
-
-
-
-
-
3,400
-
-
-
-
-
-
-
-
-
-
-
17,578
-
-
17,578|**Total funds**
**2021**
**£**
92,237
92,237
17,117
17,117
4
4
733
18,834
63
19,630
128,988
12,120
18,366
13,758
44,244
1,033
13
1,146
2,192
46,436
2,860
2,860
67,000
22,398
793
90,191|**Total funds**
**2020**
**£**
78,897|
|---|---|---|---|---|
|||||78,897|
|||||14,500|
|||||14,500|
|||||-|
|||||-|
|||||-
8,591
425|
|||||9,016|
|||||102,413
5,035
9,200
5,462|
|||||19,697|
|||||1,032
2,023
-|
|||||3,055|
|||||22,752
232|
|||||232|
|||||62,307
-
389|
|||||62,696|
Page 17
**Kingsword International Church Ltd Detailed Statement of Financial Activities**
|General administrative costs,
including depreciation and
amortisation
Depreciation of Fixtures and
fittings
Equipment expensed
General insurances
Information and publications
Software, IT support and related
costs
Stationery and printing
Sundry expenses
Telephone, fax and broadband
**Total of expenditure of other costs**
**Total expenditure**
Net gains on investments
**Net (expenditure)/income**
**Net (expenditure)/income before**
**other gains/(losses)**
Other Gains
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
**Total funds carried forward**|3,008
6,223
-
2,137
874
1,104
236
480
14,062
89,535
135,971
-
(10,383)
(10,383)
-
(10,383)
(1,363)
(11,746)|-
-
-
-
-
-
-
-
-
17,578
17,578
-
(14,178)
(14,178)
-
(14,178)
14,178
-|3,008
6,223
-
2,137
874
1,104
236
480
14,062
107,113
153,549
-
(24,561)
(24,561)
-
(24,561)
12,815
(11,746)|2,066
1,439
64
1,956
560
652
785
581|
|---|---|---|---|---|
|||||8,103|
|||||71,031|
|||||93,783
-|
|||||8,630|
|||||8,630
-|
|||||8,630|
|||||4,185|
|||||12,815|
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