OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

← King's Church, Guildford

2024-08-31-accounts

KING’S CHURCH GUILDFORD

FINANCIAL STATEMENTS FOR THE YEAR ENDED

31ST AUGUST 2024

Charity number 1158254

KING’S CHURCH GUILDFORD

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST AUGUST 2024

Contents Page
Charity information 1
Trustees' Report 2-6
Report of the Independent Examiner 7
Statement of Financial Activities 8
Balance Sheet 9
Notes to the Financial Statements 10-13

KING’S CHURCH GUILDFORD

CHARITY INFORMATION

Charity Registration No 1158254 Principal Address Guildford GU1 2AZ Treasurer

23 Waterden Road Guildford GU1 2AZ

Mr A Medeiros

Trustees

Mr D De Villiers (Resigned 12 May 2025) Mr R Gray Rev R J Perkins Mr P J Appleton Mr G Knight (Resigned 1 February 2024) Mr R Castro (Resigned 7 May 2024)

Bankers CAF Bank Ltd 25 Kings Hill Avenue Kings Hill West Malling Kent ME19 4JQ Solicitors Edward Connor Solicitors 49-51 East Road Hoxton London N1 6AH Independent examiner Miriam Hickson CTA FCA JCS Accountants Limited 5 Robin Hood Lane Sutton Surrey SM1 2SW

Page 1

KING’S CHURCH GUILDFORD (“King’s”)

TRUSTEES REPORT FOR THE YEAR ENDED 31 AUGUST 2024

The Trustees have pleasure in submitting their Annual Report and the financial statements for the year ended 31 August 2024, which have been prepared in accordance with the Charities Statement of Recommended Practice (Charities SORP (FRS 102)) and Financial Reporting Standard 102 (FRS 102). The church is a charitable incorporated organisation and is governed by its constitution. It was registered with the Charity Commission on 15 August 2014.

Objectives, leadership and review of activities

Objectives

The objects of King’s remain the same - to promote the advancement of the Christian faith in accordance with our statement of faith; and to carry out other charitable activities associated with the Christian faith for the public benefit. The Trustees are mindful of their obligations to have regard to the Guidance promulgated by the Charities Commission on public benefit. King’s advances religion for the public benefit by promulgating the good news of the gospel of Jesus Christ in and around Guildford and consider that the following activities illustrate how the public benefit test is met.

A major focus of King’s is the wellbeing of the young people attending, enhancing their capacity to relate to people across different generations (and from different social backgrounds), and offering activities which build their character, resilience, enjoyment of the world around them, friendships with each other, and willingness to serve those around them.

Leadership

Under King’s constitution, (i) the Trustees are responsible for managing the affairs of King’s and (ii) Elders have the responsibilities that are assigned to elders under the New Testament. Any person appointed as an Elder of King’s is a Trustee.

We are delighted, and thankful to God, that the new pastor, Rev Richard Perkins, who was appointed as King’s pastor, Elder and Trustee with effect from 2 August 2023 has settled in very well and his preaching, teaching and leadership of King’s (along with the other elders and Trustees) has been positively received.

Page 2

KING’S CHURCH GUILDFORD

TRUSTEES REPORT FOR THE YEAR ENDED 31 AUGUST 2024 (continued)

Review of Activities

Throughout this financial year, King’s has been blessed with a committed staff team of 3 and a committed church family many of who volunteered to serve in many different ministries.

We organise our ministry into the following areas:

ENGAGE AND EVANGELISE

Our Engage and Evangelising ministry is about people coming to faith in Christ.

This ministry is about people joining the family of God. As a church family, we want to reflect our Heavenly Father's gracious welcome of people into his family. Therefore, we work hard to make everyone feel welcome at King's, whether older or younger, regular or visitor, believer or doubter. We also want to help Christians keen to make King's their home to settle in as easily and as quickly as possible - to become gospel partners in our 'family on mission'.

Over the last 12 months, we have run several courses including an 'EasterExplored' course, a “Blue Monday” event for people to investigate the Christian faith. We also ran Carol Services at Christmas, and we regularly welcome visitors many of whom who would be exploring the Christian faith to our Sunday meeting.

But evangelising isn't just about programmes and events, it's about people and relationships. So, alongside providing opportunities for people to 'come and hear' the gospel, we are striving to be a people who 'go and tell' the gospel. That means getting alongside our friends, family, neighbours and work colleagues; loving them, spending time with them and prayerfully seeking to speak about Jesus to them. It's been hugely encouraging to hear of conversations about Jesus that many in the church family are having with their unbelieving friends.

ESTABLISHING AND EQUIPPING

Our Establishing and Equipping ministry is about people growing in maturity in Christ.

Psalm 1 contrasts the difference between the person who delights in God's word with the person who rejects God's word. The former is likened to a strong, flourishing tree, whilst the latter is described as 'chaff blown away by the wind'. At King's we want people to thrive and flourish in the Christian life - to grow increasingly mature in Christ. This maturity is brought about by the work of God's Spirit through the teaching of God's word.

That is why we have continued to teach and talk about the Bible with all ages in the church family, through small groups for children, young people, students and adults.

We also want to train the King’s church family for service. According to Ephesians, ministry is not just done by the pastor to the people. Rather, pastors teach the Bible so that the people might do ministry to others. Therefore, we want to grow a culture of training where every Christian at King's is equipped to do all kinds of ministry to all sorts of people in all manner of contexts. This is why, in the last 12 months, we have put on training events for Student Group leaders, Life Group leaders; for women and for men and a Bible Overview series for all of King’s church family. It's why we have a Pastor in Training on the staff team and why we have a training programme aimed at equipping men and women for ministry at King's and beyond, both now and in the future.

Complementing our focus on engaging and evangelising and establishing and equipping, we have a men’s ministry team, a women’s ministry team, a kids and young persons team, a students team and a Sundays team.

Page 3

KING’S CHURCH GUILDFORD

TRUSTEES REPORT FOR THE YEAR ENDED 31 AUGUST 2024 (continued)

There are also many unseen areas of service which are critical to King’s mission. These include, legal & financial (bookkeeping, fundraising, Safeguarding, Health & Safety, Data Protection etc); operations & communications (Organising our Sunday meetings, managing the buildings we use, managing our IT systems, producing publicity, updating the website etc); people & prayer (overseeing staffing, partnership with other churches & organisations, communicating prayer needs via the weekly Newsletter, organising the termly rota etc.). We continue to be very grateful for the Lord's provision of a church office and church building, both of which we rent, where we can meet; for the many people who serve behind the scenes and for the many regular givers and prayers who make our ministry possible.

Financial Review

King's is financially dependent on the voluntary support of its members. Total voluntary income receipts for the year amounted to £139,408 to which were added £1,985 for Church events, £29,155 by way of income tax refund and £244 of other income. Expenditure amounted to £163,292. The end result was a surplus of £7,500 (compared to a surplus of £45,014 in 2023).

During 2024 the Trustees considered whether it would be in the best interests of King’s to purchase a ministry house in Guildford for current and future pastors (and their families) of King’s to live in. Since its establishment in 2014, King’s has rented properties for its pastors and their families to live in.

After careful consideration and prayer, the Trustees concluded it would be in the best interests of King’s to proceed with this and on 14 November 2024 King’s exchanged contracts for the purchase of a 4 bedroom house in Slyfield, Guildford for a purchase price of £739,450. The purchase completed on 9 January 2025.

Reserves Policy

The Trustees aim to maintain free reserves in unrestricted funds at a level which equates to approximately three months' unrestricted charitable expenditure. The Trustees consider that this level will provide sufficient funds to manage in the event of a sudden fall in income. As a result of the surplus for this financial year, the balance held as unrestricted funds at 31 August 2024 increased to £106,250 of which £104,742 are regarded as free reserves, after allowing for funds tied up in tangible fixed assets.

Affiliation and Support

King’s remain formal members of the Fellowship of Independent Evangelical Churches (FIEC), through which there are also informal accountability for the Pastor and Elders as well as legal and safeguarding support for the church. King’s is also a member of the Surrey Gospel Partnership.

Legal and Administrative details

The legal and administrative details required by law are set out on page 1 and form part of this report.

Structure and Management

The Trustees are chosen from among the church. As such they are already aware of the objectives and activities of the church. All Trustees seek to keep abreast of relevant legislation and good practice. To this end they have received relevant advice from the church's professional advisors. On appointment Trustees are given copies of the Annual Report and accounts, the Constitution, and all the church’s policy documents, as well as the link to the Charity Commission's publication: 'The Essential Trustee: What You Need to Know, What You Need to Do'.

Page 4

KING’S CHURCH GUILDFORD

TRUSTEES REPORT FOR THE YEAR ENDED 31 AUGUST 2024 (continued)

Structure and Management (continued)

The Trustees make all policy decisions. Day to day decisions are made by church staff but only within the boundaries defined in their individual Role Descriptions. The following individuals have served as Trustees during the year and to the date of signing of this report (other than as indicated below):

Mr D De Villiers (resigned 12 May 2025) Mr G Knight (resigned 1 February 2024) Mr R Castro (resigned 7 May 2024) Mr PJ Appleton Mr RJH Gray Rev RJ Perkins

As mentioned in the financial statements, Rev Richard Perkins is a Trustee and employee of King’s. Conscious of the potential for conflict of interest to which this gives rise, the Trustees have been careful to ensure that all relevant issues (for example, concerning remuneration and conditions of service) are flagged in advance; that (where appropriate) discussion of such issues are held in his absence; and that all decisions on such issues are taken by the other Trustees.

Risk Management

The Trustees recognise that key risks facing King’s are:

Financial - There is a risk that people leave the church and our income doesn’t meet our costs. This is mitigated by our reserves in the short term, and also by a proactive approach to making the church family aware of our needs. It is also mitigated by the fact that some of our expenditure is flexible because we don’t have to maintain a building. As the Trustees look forward the Trustees do recognise the financial impact of purchasing a new ministry house.

Incapacity of the Pastor(s) - There is a risk that if the Pastor(s) is unable to work, the ministry would be severely affected. The church being led by a group of Elders, rather than just one person mitigates this risk. It is also mitigated by a growing Ministry Team who are being trained to preach sermons and to lead various areas of ministry. If the Pastor(s) were unable to work on a permanent basis, a long-term solution would be for the Elders to find and appoint a suitable replacement.

Policies and Procedures (including safeguarding)

To ensure effective implementation of the policies, the Trustees have a coordinator of each policy as well as an overseer of policy implementation. Specialist Safeguarding Training for volunteers has been delivered. Every leader working with persons under 18 (and others, where appropriate) is checked by the Disclosures and Barring Service and the church conducts a thorough recruitment process to ensure the suitability of volunteers and the safety of children and vulnerable adults.

Going concern

The Trustees have reviewed the circumstances of King’s Church Guildford and consider that adequate resources continue to be available to fund the activities for the foreseeable future. The Trustees are of the view that the charity is a going concern.

Page 5

KING'S CHURCH GUILDFORO TRUSTEES REPORT FOR THE YEAR ENDED 31 AUGUST 2024 contlnued Tru6t•M' R￿po￿￿bIlItl•1 The Trnstees are ra¥)on$lble lor prepadng Ihe Annual Report and the finandal statements In accordanc* with the applicable law and Uniled KIngdC￿ Gener￿lY Aw)ied Acc￿nting Pfactte. Company law requir88 the Trustees to prepare finandal stalemenls for eath lIn￿¢181 penc4J whlch oive a iNe and falr vlew of the 818le of affalrs of the ¢(Mnp8ny and of the ¥urplu8 or of the chwlty for that pedod. In proparfno those financial Statem￿ts. the Tru8tee8 afe required to: a) ￿leCt Sutsble accounting polkth and then 8ppty them c￿8181enty. b) observe the methods and pnnC￿Ie5 In the Charibes SORP: ¢) make iudgements and esljmates that are reasonable and prudent.. d) stste whelher the pollcies &Jopted afe in accordance with the Charits8 SORP. the Regula￿n$ m&le under 8eth.on 44 of the Ch8rftles Ad and 8pplicable accountsng SI￿derd￿. 3ubjecl to any matafial departures dl8closed and explalned In the flnancial 81atemenls.' e) prèpare Ihe finandal slalements on a go11￿ (x)nwn tsa￿.8 unla88 tt18 Inappropriat8 to 888ume thal Ihe charity will conllnue lo operate Q The Trn8tee8 are re8pon8ble for koaping proper aCC￿ntIng rfa)rd8, whth di8c108e wlth rea80nable a(wr8cy al any tirno the financlal position of thè charity and enable them to en3ure that the financial statements compty with Ihe Charllles Act 2011 , They are also reJp¢M8ibl8 lor 8af6gU8rdlng the assets of Ihe charity and hence taking rea3Mable Stsps for the prevention arKI detectlon of fraud or oth kregulartb'e8. Th18 r•port was 4iproved by the Truste￿ Ixi 12 May 2￿25 Mr R Gray Slgnad on behaff of Ihe Trust KINGE CHURCH GUILDFORD Page 8

KING'S CHURCH GUILDFORD INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 AUGUST 2024 Independent examinerfs report to the Trustees of King's Church Guildford I report to the charity trustees on my examination of the accounts of the church for the year ended 31 August 2024. Responsibilities and basis of report As the charity's trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act,). I report in respect of my examination of the church's accounts as carried out under section 145 of the 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 confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect.. 1. accounting records were not kept in respect of the church as required by section 130 of the Act., or 2. the accounts do not accord with those records., or 3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Report) 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. R Hickson FCA CTA JCS Accountants Limited 5 Robin Hood Lane Sutton Surrey SM12SW Page 7

KING’S CHURCH GUILDFORD

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 AUGUST 2024

Unrestricted Restricted
2024
2024
£
£
Income from
Donations and legacies
Donations received
139,408
-
Gift Aid Recoverable
29,155
-
Charitable activities
Church Events
1,985
-
Other income
244
-
Total income
170,792 -
Expenditure on
Charitable activities
Church Running Costs
42,496
-
Donations to charities
2,247
-
Staff Costs
2 112,961
-
Governance Costs
3 5,588
-
Total expenditure
163,292
-
Net income/(expenditure)
7,500
-
Transfers between funds
-
-
Net movement in funds
7,500
-
Reconciliation of funds
Fund balances brought forward
at 1 September 2023
98,750
-
Fund balances carried forward
at 31 August 2024
106,250
-		 Total Unrestricted Restricted
2024
2023
2023
£
£
£

139,408
90,903
(1,955)
29,155
23,165
(763)
1,985
1,483
-
244
428
-
170,792
115,979
( 2,718)
42,496
40,061
-
2,247
2,030
-
112,961
20,065
-
5,588
6,091
-
163,292
68,247
-
7,500
47,732
(2,718)
-
3,165
(3,165)
7,500
50,897
(5,883)
98,750
47,853
5,883
106,250
98,750
-
Total
2023
£
88,948
22,402
1,483
428
113,261
40,061
2,030
20,065
6,091
68,247
45,014
-
45,014
53,736
98,750

Page 8

KINGE CHURCH GUILDFORD BALANCE SHEET AS AT 31 AUGUST 2024 2024 2023 Tanglbl• fix•d a•Mt• 2.441 Current as••ts D&blors Cash at bank 8.286 43.479 112.879 103.203 Cr8dltor8: Amounts falllng du• wlthln one year N•t curr•nt •s••t• N•t 16s•ts Fund• Unrestrlcted fund3 Re8tricled fund8 106,250 98.750

prov8d by the Tfu31ees ¢)n 12 May 2025 slgn¢(l ¢)n lh* bthaff ty: UiQi Mr R Gray Trusts• Pag¢ 9

KING’S CHURCH GUILDFORD

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024

1 Accounting policies

a) Basis of preparation

The financial statements have been prepared in accordance with the Charities Statement of Recommended Practice (Charities SORP (FRS 102)), Financial Reporting Standard (FRS) 102, and the Charities Act 2011. The financial statements are drawn up on the historical cost basis of accounting and presented in pounds sterling rounded to the nearest pound. King’s Church Guildford meets the definition of a public benefit entity under FRS 102 and is a charitable incorporated organisation with registered office of 39 Epsom Road, Guildford, GU1 3LA.

There are no material uncertainties regarding the church’s ability to continue in operation.

b) Income

All income is included in the Statement of Financial Activities when the charity is entitled to it, it is probable that the income will be received and the amount of income receivable can be reliably measured. The following specific policies are applied to particular categories of income:

c) Expenditure

Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure is inclusive of any VAT which cannot be recovered.

d) Debtors, creditors and provisions

Debtors are included at the settlement amount due. Creditors are recognised where the charity has a present obligation arising 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 recognised at their settlement amount.

Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of opening the deposit.

f) Financial instruments

The charity only has financial assets and liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

g) Fund accounting

Unrestricted funds are income resources receivable without further specific purposes and are available for general purposes to be used at the discretion of the Trustees.

h) Tangible fixed assets

Tangible fixed assets are capitalised at cost and depreciated at the rate of 25% on a straight line basis.

Page 10

KING’S CHURCH GUILDFORD

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024

2 STAFF COSTS AND RELATED PARTY TRANSACTIONS

Rev’d Richard Perkins was employed by King’s Church Guildford and is also a Trustee of the charity. He received a salary and other direct payments (including housing allowance) of £60,800 (2023:£5,066) and pension contributions of £6,010 (2023:£198) were made on his behalf. Such payments are permitted by clause 6.3 of the Church’s constitution. The total payroll costs during the year were:

Salaries
Employers NI
Pension
The average number of employees during the year was as follows:		 2024
£
97,500
1,494
9,674

108,668
2024
No.
3		 2023
£
18,670
-
1,395
20,065
2023
No.
1

None of the other Trustees (2023: none) received any remuneration during the year. Carole de Villiers, the wife of the trustee, Dave de Villiers, was employed during the year as Women’s Ministry Leader and received a salary of £15,600. (2023:£13,104).

There was one employee whose emoluments exceeded £60,000 (2023: none).

The total employee benefits of the Key Management Personnel were £67,885 (2023: £32,287)

During the year expenses of £942 were paid to trustees (2023: £844).

The trustees in the year made total unrestricted donations of £43,991 (2023: £38,080) to the charity.

3 Governance costs

Independent examination
Professional and legal fees		 2024
£
1,680
3,908
5,588		 2023
£
1,400
4,691
6,091

Page 11

KING’S CHURCH GUILDFORD

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024

4 Tangible fixed assets

Cost
At 1 September 2023
Additions
At 31 August 2024
Depreciation
At 1 September 2023
Charge for the year
At 31 August 2024
Net book value
At 31 August 2024
At 1 September 2023
5
Debtors
Prepayments
Other Debtors
6
Creditors
Accruals		 Fixtures &
Equipment
£
6,797
-
6,797
4,356
933
5,289
1,508
2,441
2024
2023
£
£
1,075
1,899
7,191
41,580
8,266
43,479
2024
2023
£
£
8,137
6,894

Page 12

KING’S CHURCH GUILDFORD

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024

7 Restricted funds

2023 Brought Income Transfer
Carried
forward forward
£ £ £ £
Hardship Fund 5,883 (2,718) (3,165) -

The Hardship Fund was established to support those who were financially impacted by Covid-19. It was closed during the previous year and the funds were returned to donors, or their approval was obtained to transfer the donations to the general fund.

8
Net assets
2024
2024
Unrestricted Restricted
£
£
Fixed assets
1,508
-
Net current assets
104,742
-
106,250
-
2023
2023
Unrestricted Restricted
£
£
Fixed assets
2,441
-
Net current assets
96,309
-
98,750
-		 2024
Total
£
1,508
104,742
106,250
2023
Total
£
2,441
96,309
98,750

9 Post balance sheet event

The charity exchanged contracts for the purchase of a freehold residential property in November 2024 with completion finalised in January 2025. The purchase price was £739,450 which was funded via a mixture of utilisation of some of King’s reserves, unsecured loans and a commercial mortgage. The property will be used to provide accommodation for the pastor and his family.

Page 13