**KingsWord International Church Charity**
**No. 1152925**
**Trustees' Report and Unaudited Accounts**
**30 November 2023**
**KingsWord International Church Contents**
||Pages|
|---|---|
|Trustees' Annual Report|3 to 6|
|Independent Examiner's Report|7|
|Statement of Financial Activities Balance|8|
|Sheet|9|
|Statement of Cash flows|17|
|Notes to the Accounts|10|
|Detailed Statement of Financial Activities|18 to 19|
Page 1
**KingsWord International Church Trustees Annual Report**
The trustees present their report with the unaudited financial statements of the charity for the year ended 30 November 2023.
## **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 S. Osinoiki A.J. Popoola
## **Founder**
Dr. Kayode Adeyeye Ijisesan
## **Key Management Personnel**
Minister in Charge Pastor Emmanuel Akinlaja
## **Accountants**
Intrachartered Ltd 82a James Carter Road Mildenhall, Suffolk IP28 7DE
## **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 Trustees Annual Report**
## **OBJECTIVES AND ACTIVITIES**
## **TheCharity'sobjectivesare:**
- 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 center for Christian worship at its premises in Charlton, London. The charity runs several community-based vehicles of transformation that focus on assisting the disadvantaged & less well off in its local communities.
## **The Charity's main objectives for the year were:**
- The continuous spread of the Christian faith.
- To achieve and maintain active engagement with our community and the surrounding boroughs.
- Developing the charity's online engagement, reaching out and engaging with our community of online
- followers.
- To appoint, train and develop new volunteers into various key roles to improve ministry to people.
The strategies employed to achieve these objectives include:
- Regular review of performance against the charity's objectives.
- Monthly prayer and inspirational meetings with church members.
- Improving and developing the charity's outreach in the local community as well as online and on social
- media
## **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 charity relies on volunteers to support the activities that are run through the year. 50 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.
Page 3
**KingsWord International Church Trustees Annual Report**
## **ACHIEVEMENTS AND PERFORMANCE**
Notable activities during the year:
The church’s annual activities were carried out both in person and online.
* Succeeding At & Beyond University Seminar - We organised two seminars for international post graduate students in the UK.
* Supernatural Europe - A three day conference dedicated to the teaching and preaching of key principles from the Christian faith, and celebration in music.
* Worship Conference - It was a time for people from all works of life and the community to gather in worship and music.
* Christmas Appeal - The charity raised funds and provided food and other items to over 100 families in local children’s centres within 5 miles of the church as part of their Christmas appeal.
There were other activities held during the year.
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 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.
## **FINANCIAL REVIEW**
The total income for the year ended 30 November 2023 was £273587 a 35% increase compared to the income from the previous year of £202,120. The total expenditure was £237319 (£190,364 - 2021) resulting in a net income of £36,268 as against a net income of £11,756 in the previous year. Given the total expenditure for the year the targeted reserves should be £39,553 as against the current reserves of £36,278 a shortfall of £3,275. However, this represents a marked improvement on the level of reserves in the previous year £10.
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.
## **Principal Funding:**
The charity's principal funding is through members' contributions and donations.
## **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. There are plans to support local food banks in the community.
Page 4
**KingsWord International Church Trustees Annual Report**
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## Constitution:
The church is constituted under a Trust Deed dated the 6th of March 2013 and is a registered Charity in the UK with the 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 charity's exposure to these risks.
## 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 5
K4ngsWord International Church
Trustees Annual Report
The trustees are required to Pfepare financial statement5 for each linancial year, which give a true and fair
vlew of the sltuation ol the charlty and the incoThing re30UTces and application ol resources, including the
nel Income or expenditurp ol the charity foT the year. In preparing those financial statefflents, the trustees
are required to:
"select sultable accounting policies and then appty them consislenlly.
'make judgements and estlmales thal are Teasonable and prudent.,
'state whether applicable accountlng stanLlards and slatemenls ol iecommended PTactlce have been
tollowed, subjeEt lo any mateiial departures disc105ed and explalned in the financial staternents-, and
"prepare the financial statements on a Doing concern basis unless rt Is inappropriate to presume thal the
charlty wlll conllnue In operation.
The trustees are responsible for keeping proper accounting recoids whlch dlsclose with reasonable accuiacy
at any tlme the financial position of the charlty and which enafjle them lo ensure thal the fillanclal
statement8 comply with the Charltie5 Act 2011, the Charity (Accounts and Reports) Regulations and the
provislons of the trust deed. The trustees are also responsible for safeguarding the assets ol the charlty and
hence loi taking reasonable steps lor the prevention and detection of fraud and other ifregularities.
Signed behalf ol the charlty's trustees
A.0. Oragbade
TFuslee
24 September 2024
Page 6
**KingsWord International Church Independent Examiners Report**
## **Independent Examiner's Report to the trustees of Kingsword International Church**
I report to the trustees on my examination of the financial statements of Kingsword International Church for the year ended 30 November 2023.
## **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').
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**
As the charity's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination by being a qualified member of FIFA, FIPA.
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 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 FIFA, FIPA Intrachartered Ltd 82a James Carter Road Mildenhall, Suffolk
IP28 7DE 24 September 2024
Page 7
**KingsWord International Church Statement of Financial Activities**
**for the year ended 30 November 2023**
|**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 income**
9
Transfers between funds
**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**|**Unrestricted**
**funds**|**Restricted**
**funds**|**Total funds**|**Total funds**|
|---|---|---|---|---|
||**2023**|**2023**|**2023**|**2022**|
||**£**|**£**|**£**|**£**|
||||||
||215,742|3,450|219,192|151,469|
||23,270|-|23,270|21,390|
||39|-|39|867|
||31,086|-|31,086|28,394|
||270,137|3,450|273,587|202,120|
||||||
||122,637|-|122,637|75,487|
||111,232|3,450|114,682|114,877|
||233,869|3,450|237,319|190,364|
||-|-|-|-|
||36,268|-|36,268|11,756|
||-|-|-|-|
||36,268|-|36,268|11,756|
||||||
||36,268|-|36,268|11,756|
||||||
||10|-|10|(11,746)|
||36,278|-|36,278|10|
||||||
||||||
||||||
Page 8
Iringsword Intèmatlonal Churth
Balanie Sheet
at 30 November 2023
Charity No. 1152925
2023
2022
Fixed assets
Tanglble assels
11
6,728
6.728
9,036
9.036
Current assets
Debtors
Investments
Cash at bank and In hand
12
13
16.749
9.445
34,433
60.627
131.0771
29,550
36,278
36,278
16,749
9,445
1,429
27.623
136.6491
19,0261
10
Credrlors: Amount falllng due wlthln one yeaT
Net current assetsllliabilitiés)
Total a55*ts less curyent liabiltties
14
Net assets exduding pension asset or liability
10
Total net assets
36.278
10
The funds of the tharity
Restrlcted fund5
15
Unre5trirted funds
General funds
15
36,278
36,278
10
10
ResÈrvÈs
15
Total funds
36,278
10
Approved by the tTUStees on 24 September 2024
And slgned on their behalf by=
A.0. Oragbade
Trustee
24 Septemtier 2024
Page 9
**KingsWord International Church Notes to the Accounts**
**for the year ended 30 November 2023**
- 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. Revaluation funds These are unrestricted funds which include a revaluation reserve representing the restatement of investment assets at their market values.
- 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. Gains/(losses) on This includes any gain or loss resulting from revaluing investments to market value revaluation of fixed at the end of the year. assets Gains/(losses) on This includes any gain or loss on the sale of investments. investment assets
Page 10
**KingsWord International Church 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, fittings and 33.3% Straight line equipment
## **Freehold investment property**
Investment properties are measured initially at cost and subsequently at fair value at each balance sheet date and are not depreciated. All gains or losses are taken to the Statement of Financial Activities as they arise.
## **Stocks**
Stock is included at the lower of cost or net realisable value. Donated items of stock are recognised at fair value which is the amount the charity would have been willing to pay for the items on the open market.
## **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.
Page 11
**KingsWord International Church Notes to the Accounts**
## **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.
## **Research and development**
Expenditure on research and development is written off in the year in which it is incurred.
## **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.
## **Leased assets**
Where the charity enters into a lease which entails taking substantially all the risks and rewards of ownership of an asset, the lease is treated as a finance lease.
Leases which do not transfer substantially all the risks and rewards of ownership to charity are classified as operating leases.
Assets held under finance leases are initially recognised as assets of the charity at their fair value at the inception of the lease or, if lower, at the present value of the minimum lease payments. The corresponding liability to the lessor is included in the balance sheet date as a finance lease obligation. Lease payments are apportioned between finance expenses and reduction of the lease obligation so as to achieve a constant rate of interest on the remaining balance of the liability. Finance expenses are recognised immediately, unless they are directly attributable to qualifying assets, in which case they are capitalised in accordance with the charity's policy on borrowing costs. Assets held under finance leases are depreciated in the same way as owned assets.
Operating lease payments are recognised as an expense on a straight-line basis over the lease term. In the event that lease incentives are received to enter into operating leases, such incentives are recognised as a liability. The aggregate benefit of incentives is recognised as a reduction of rental expense on a straight-line basis.
## **Pension costs**
The charity operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the charity pays fixed contributions into a separate entity. Once the contributions have been paid the charity has no further payments obligations. The contributions are recognised as expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the charity in independently administered funds.
## **Receipt of donated goods, facilities and services**
All donated goods, facilities and services received are recognised within incoming resources and expenditure at an estimate of the value to the charity.
Page 12
**KingsWord International Church**
**Notes to the Accounts**
## 2 **Statement of Financial Activities - prior year**
|**Income and endowments from:**
Donations and legacies
Charitable activities
Investments
Other
**Total**
**Expenditure on:**
Charitable activities
Other
**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**
Donations
Tithes & offerings
4
**Income from charitable activities**
Graceland rentals|**Unrestricted**
**£**
27,637
188,105
215,742|**Unrestricted**
**funds**
**2022**
**£**
147,989
21,390
867
28,394
198,640
75,487
111,397
186,884
11,756
11,756
11,756
(11,746)
10
**Restricted**
**£**
3,100
350
3,450
**Unrestricted**
**£**
23,270
23,270|**Restricted**
**funds**
**2022**
**£**
3,480
-
-
-
3,480
-
3,480
3,480
-
-
-
-
-
**Total**
**2023**
**£**
30,737
188,455
219,192
**Total**
**2023**
**£**
23,270
23,270|**Total funds**
**2022**
**£**
151,469
21,390
867
28,394|
|---|---|---|---|---|
|||||202,120
75,487
114,877|
|||||190,364|
|||||11,756|
|||||11,756|
|||||11,756
(11,746)|
|||||10|
|||||**Total**
**2022**
**£**
2,305
149,164|
|||||151,469|
|||||**Total**
**2022**
**£**
21,390|
|||||21,390|
Page 13
**KingsWord International Church**
**Notes to the Accounts**
## 5 **Income from investments**
|Interest earned
6
**Other income**
Exchange rate gain
Gift Aid
Sundry Income
7
**Expenditure on charitable activities**
_Expenditure on charitable_
_activities_
Honorarium & Pastor's
Allowance
Events & service costs
Missions giving, Other
donations & welfare
_Governance costs_
Accounting fees
Legal & Professional
Bank Charges|**Unrestricted**
**£**
39
39
**Unrestricted**
**£**
-
31,071
15
31,086|**Total**
**2023**
**£**
39
39
**Total**
**2023**
**£**
-
31,071
15
31,086|**Total**
**2022**
**£**
867|
|---|---|---|---|
||||867|
||||**Total**
**2022**
**£**
195
28,199
-|
||||28,394|
|||||
||**Unrestricted**
**£**
31,753
77,022
12,404
1,200
32
226
122,637|**Total**
**2023**
**£**
31,753
77,022
12,404
1,200
32
226
122,637|**Total**
**2022**
**£**
25,526
37,700
10,694
1,200
72
295|
||||75,487|
Page 14
**KingsWord International Church Notes to the Accounts**
|General Insurance
Motor and travel costs
Premises costs
Amortisation, depreciation,
impairment, profit/loss on
disposal of fixed assets
General administrative costs
9
**Net income before transfers**
This is stated after charging:
Depreciation of owned fixed assets
Depreciation of assets held under finance
leases and hire purchase contracts
10 **Staff costs**
No employee received emoluments in excess
11 **Tangible fixed assets**
**Cost or revaluation**
At 1 December 2022
Additions
At 30 November 2023
**Depreciation and**
**impairment**
At 1 December 2022
Depreciation charge for the
year
At 30 November 2023
**Net book values**
At 30 November 2023
At 30 November 2022
12 **Debtors**
Other debtors
8
**Other expenditure**|**Unrestricted**
**£**
945
2,303
77,089
8,896
21,999
111,232
of £60,000.|**Restricted**
**£**
-
-
3,450
-
-
3,450
**2023**
**£**
8,896
-
**2023**
**£**
16,749
16,749|**Total**
**2023**
**£**
945
2,303
80,539
8,896
21,999
114,682
**Fixtures,**
**fittings and**
**equipment**
**£**
30,457
6,588
37,045
21,421
8,896
30,317
6,728
9,036|**Total**
**2022**
**£**
-
8,162
90,366
4,957
11,392|
|---|---|---|---|---|
|||||114,877|
|||||**2022**
**£**
-
4,957
**Total**
**£**
30,457
6,588|
|||||37,045|
|||||21,421
8,896|
|||||30,317|
|||||6,728|
|||||9,036|
|||||**2022**
**£**
16,749|
|||||16,749|
Page 15
**KingsWord International Church Notes to the Accounts**
## 13 **Current asset investments**
|Listed investments
14 **Creditors:**
amounts falling due within one year
Other creditors
15 **Movement in funds**
**Restricted funds:**
**Restricted income funds:**
_Total_
**Unrestricted funds:**
**General funds**
**Total funds**
16 **Analysis of net assets between funds**
Fixed assets
Net current assets
17 **Reconciliation of net debt**
Cash and cash equivalents
Net debt|**At 1**
**December**
**2022**
-
-
10
10|**2023**
**£**
9,445
9,445
**2023**
**£**
31,077
31,077
**Incoming**
**resources**
**(including**
**other**
**gains/losses**
**)**
**£**
3,450
3,450
270,137
273,587
**Unrestricted**
**funds**
**£**
6,728
20,105
26,833
**At 1**
**December**
**2022**
**£**|**Resources**
**expended**
**£**
(3,450)
(3,450)
(233,869)
(237,319)
**Restricted**
**funds**
**£**
-
9,445
9,445
**Cash flows**
**£**|**2022**
**£**
9,445|
|---|---|---|---|---|
|||||9,445|
|||||**2022**
**£**
36,649|
|||||36,649|
|||||**At 30**
**November**
**2023**
**£**
-|
|||||-|
|||||36,278|
|||||36,278|
|||||**Total**
**£**
6,728
29,550|
|||||36,278|
|||||**At 30**
**November**
**2023**
**£**|
|||1,429|33,004|34,433|
|||1,429
1,429|33,004
33,004|34,433|
|||||34,433|
||||||
Page 16
**KingsWord International Church Statement of Cash flows**
**for the year ended 30 November 2023**
|**Cash flows from operating activities**
**Net income per Statement of Financial Activities**
**Adjustments for:**
Depreciation of property, plant and equipment
Dividends, interest and rents from investments
Decrease in trade and other payables
**Net cash provided by/(used in) operating activities**
**Cash flows from investing activities**
Payments for property, plant and equipment
Dividends, interest and rents from investments
**Net cash from investing activities**
**Net cash used in financing activities**
**Net increase in cash and cash equivalents**
**Cash and cash equivalents at the beginning of the year**
**Cash and cash equivalents at the end of the year**|**2023**
**£**
36,268
8,896
(31,125)
(5,572)
8,467
(6,588)
31,125
24,537
-
33,004
1,429
34,433|**2022**
**£**
11,756
4,957
(29,261)
-|
|---|---|---|
|||(12,548)
(4,339)
29,261|
|||24,922|
||||
|||(5,272)|
||||
|||7,102|
|||3,772|
|||10,874|
||||
|**Components of cash and cash equivalents**|||
|Cash and bank balances|34,433|1,429|
||||
||34,433|1,429|
Page 17
**KingsWord International Church Detailed Statement of Financial Activities**
## **for the year ended 30 November 2023**
|**Income and endowments from:**
Donations and legacies
Donations
Tithes & offerings
Charitable activities
Graceland rentals
Investments
Interest earned
Other
Exchange rate gain
Gift Aid
Sundry Income
**Total income and endowments**
**Expenditure on:**
Charitable activities
Honorarium & Pastor's Allowance
Events & service costs
Missions giving, Other donations
& welfare
Governance costs
Accounting fees
Legal & Professional
Bank Charges
**Total of expenditure on charitable**
**activities**
Other expenditure
General Insurance
Motor and travel costs
Travel and subsistence
Premises costs
Rent|**Unrestricte**
**d funds**
**2023**
**£**
27,637
188,105
215,742
23,270
23,270
39
39
-
31,071
15
31,086
270,137
31,753
77,022
12,404
121,179
1,200
32
226
1,458
122,637
945
945
2,303
2,303
61,550|**Restricted**
**funds**
**2023**
**£**
3,100
350
3,450
-
-
-
-
-
-
-
-
3,450
-
-
-
-
-
-
-
-
-
-
-
-
-
3,450|**Total funds**
**2023**
**£**
30,737
188,455
219,192
23,270
23,270
39
39
-
31,071
15
31,086
273,587
31,753
77,022
12,404
121,179
1,200
32
226
1,458
122,637
945
945
2,303
2,303
65,000|**Total funds**
**2022**
**£**
2,305
149,164|
|---|---|---|---|---|
|||||151,469|
|||||21,390|
|||||21,390|
|||||867|
|||||867|
|||||195
28,199
-|
|||||28,394|
|||||202,120
25,526
37,700
10,694|
|||||73,920|
|||||1,200
72
295|
|||||1,567|
|||||75,487
-|
|||||-|
|||||8,162|
|||||8,162|
|||||77,497|
Page 18
## **KingsWord International Church Detailed**
## **Statement of Financial Activities**
|Rates
Light, heat and power
Premises repairs and
maintenance
General administrative costs,
including depreciation and
amortisation
Depreciation of Fixtures, fittings
and equipment
Equipment expensed
Information and publications
Postage and couriers
Software, IT support and related
costs
Stationery and printing
Subscriptions
Sundry expenses
Telephone, fax and broadband
**Total of expenditure of other costs**
**Total expenditure**
Net gains on investments
**Net income**
**Net income before other**
**gains/(losses)**
Other Gains
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
**Total funds carried forward**|3,603
6,271
5,665
77,089
8,896
2,161
6,784
79
4,084
1,212
5,957
-
1,722
30,895
111,232
233,869
-
36,268
36,268
-
36,268
10
36,278|-
-
-
3,450
-
-
-
-
-
-
-
-
-
-
3,450
3,450
-
-
-
-
-
-
-|3,603
6,271
5,665
80,539
8,896
2,161
6,784
79
4,084
1,212
5,957
-
1,722
30,895
114,682
237,319
-
36,268
36,268
-
36,268
10
36,278|2,946
5,000
4,923|
|---|---|---|---|---|
|||||90,366|
|||||4,957
4,432
3,306
-
1,150
679
609
63
1,153|
|||||16,349|
|||||114,877|
|||||190,364
-|
|||||11,756|
|||||11,756
-|
|||||11,756|
|||||(11,746)|
|||||10|
Page 19