King’s Church Loughborough Annual Report and Financial Statements For the year ended 31[st] March 2021
Registered Charity No. 1160234
KING’S CHURCH LOUGHBOROUGH
TRUSTEES' ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2021
CONTENTS
| Page | |
|---|---|
| Trustees’ Annual Report | 3 - 11 |
| Independent Examiner’s Report | 12 |
| Statement of Financial Activities | 13 |
| Balance Sheet | 14 |
| Statement of Cash Flows | 15 |
| Notes to the Accounts | 16 - 28 |
Page 2
KING’S CHURCH LOUGHBOROUGH
TRUSTEES' ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2021
Reference and administrative details
The name of the Charity is King's Church Loughborough.
The Charity's registered number is 1160234.
The Charity's principal address is: Schofield Centre Greenclose Lane Loughborough Leicestershire LE11 5AS
During the year ended 31 March 2021 and up to the date of this report the following persons served as Trustees of the Charity:
Chair Mrs M Laxton Mrs S Brightman Mr A Brackett Mr P Callan Mr S Moses
The Core Leadership Team of the Church during the year ended 31 March 2021 and up to the date of this report were:
Apostle Mr G Duffty Apostle Mr A Hulley Mrs T Hulley Mr S & Mrs H Moses Mr P Callan Mr P Benest Mrs M Laxton Mr D & Mrs K Long
King’s Church is managed on a day to day basis by Mrs K Long. Small World Nursery is managed on a day to day basis by Mrs M Whitley. Both are overseen by the Trustees.
Independent Reviewer: Bankers: Solicitors: Richard Farmer CGMA Santander Bank plc Askews Legal LLP Elbus Limited Leicester Corporate 5 and 6 The Quadrant 23 Faraday Avenue Carlton Park Coventry Stretton Building 4, Level 1 CV1 2EL Burton-upon-Trent Narborough Staffordshire Leicester DE13 0FX LE19 0AL
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KING’S CHURCH LOUGHBOROUGH
TRUSTEES' ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2021
The Trustees present the report and financial statements of King's Church Loughborough for the year ended 31 March 2021. The Trustees have adopted the provisions of the Statement of Recommended Practice (SORP) 'Accounting and Reporting by Charities' 2019 (FRS102) in preparing the annual report and financial statements of the charity.
STRUCTURE, GOVERNANCE AND MANAGEMENT
The Charity was established by a Deed of Constitution as a Charitable Incorporated Organisation (CIO) on 29 January 2015.
Recruitment and Appointment of Trustees
Trustees are appointed by the existing Trustee Board. Apart from the first Charity Trustees, all Trustees must be appointed for a term of three years by a resolution passed at a properly convened meeting of the Charity Trustees. In selecting individuals for appointment as Charity Trustees, the Charity Trustees must have regard to the skills, knowledge and experience needed for the effective administration of the CIO. This process would take account of the recommendations from the recognised spiritual leaders of the CIO. The senior spiritual leader automatically will be appointed as an ex-officio Charity Trustee for as long as he or she holds that office. At the end of a term of three years, any person retiring as a Charity Trustee is eligible for reappointment. Apart from the first Charity Trustees, a Charity Trustee who has served for three consecutive terms may not be reappointed for a fourth consecutive term, but may be reappointed after an interval of at least one year. All new Charity Trustees receive a copy of the Deed of Constitution, a copy of the most recent Trustees' Annual Report and Statement of accounts, and copies of the CIO Policy and Procedures documents.
Organisation
The Charity is governed in law by the Trustees and decisions may be taken either at a meeting of the Charity Trustees, or by resolution in writing or electronic form agreed by all of the Charity Trustees. The minimum number of Trustees is three, and a maximum of twelve. The spiritual welfare and direction of the Church community and its activities are the responsibility of the Core Leadership team (one of whom is an ex-officio Trustee), acting with the advice and support of the Trustees.
The Trustees remain responsible for ensuring that the Core Leadership Team activities are commensurate to the goals of the CIO as stated in the Deed of Constitution.
The CIO has powers to do anything which is considered to further its objects, or is conduce or incidental to doing so.
Risk Management
The Trustees have reviewed the major risks to which the Charity is exposed and systems have been established to mitigate those risks. Significant external risks to income are reviewed every six months to ensure that sufficient funds are in place. Internal risks are reviewed and minimised by the Trustees, by the implementation of procedures.
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KING’S CHURCH LOUGHBOROUGH
TRUSTEES' ANNUAL REPORT (continued) FOR THE YEAR ENDED 31 MARCH 2021
Data Protection
Our policies and procedures are written to comply with the GDPR regulations, to ensure safe handling and use of personal data, within the organisation, and are updated at least on an annual basis, or more regularly if necessary.
OBJECTIVES AND ACTIVITIES
The Deed of Constitution limits the Charity’s operation to specific objectives and purposes. The objectives of the Charity are as follows:
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•The advancement of the Christian Faith and the worship of God in Loughborough, Leicestershire and elsewhere.
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•The relief of persons in need, hardship or distress or who are aged or sick.
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•The advancement of education on the basis of Christian principles.
In shaping our objectives and planning our activities, the Trustees have considered the Charity Commission's guidance on public benefit, including the guidance 'public benefit: running a Charity (PB2)' and the activities we provide fully reflect the purposes for which the CIO was set up.
The vision statement is:
Following Jesus, Forming communities, Transforming the world.
The values that underpin our Church family are:
We see church as a vibrant community living as a loving family. Our vision is that everyone will understand God’s purpose, be passionately in love with Jesus and live authentic Spirit-filled lives.
We believe some of the greatest resources people have are their dreams and gifts. We believe these come from God and are His way of expressing His love for us, involving us in His plan for the whole of creation. We are committed to helping people discover and thrive in their dreams and the use of their gifts.
We desire to cultivate an environment of faith, hope and love, and express these through our joy, generosity, care and sense of adventure.
We encourage everyone to live a Jesus-centred life and, as His apprentices, respond to His commission in the context of community. We want to help people find a place to belong and experience the powerful effect of God’s love and grace.
We are motivated in every activity we do as a church family by Jesus’ love, life and mission. This shapes our very existence, knowing that just as the Father sent Him so Jesus sends us.
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KING’S CHURCH LOUGHBOROUGH
TRUSTEES' ANNUAL REPORT (continued) FOR THE YEAR ENDED 31 MARCH 2021
The Charity’s values therefore are:
Going
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•Demonstrating a complete commitment to discipleship – both to be discipled and to disciple
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•Prioritising an intentionally missional way of life
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•A commitment to hospitality and servanthood
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•A commitment to ‘sowing’ people into communities, cities and nations
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•Developing ways of blessing people through our creative generosity
Growing
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•In love with God and people
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•In our Christ-likeness
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•In lifestyle based knowledge of God’s nature and purpose
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•In the dreams and gifts God has put in us
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•In our ability to serve and prioritise other people and God’s will over our own
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•In our relationships through accountability with each other and various gifts as revealed in Ephesians chapter 4.
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•In numbers and influence
ACHIEVEMENTS AND PERFORMANCE
The global pandemic – Covid-19 hit the UK in March 2020 and the country went into several lockdowns over the course of the year. The activities of the CIO were impacted as individuals went on furlough, were confined to working from home, or found themselves at the front end of keeping the country and the economy going as essential workers. The finances of Kings Church were not substantially negatively affected as most givers moved to online giving however the finances of Small World Nursery were impacted as fee paying parents removed children in line with Government guidance. The Trustees decided to keep the nursery open to provide for vulnerable children and the children of key workers in line with the objectives of the CIO and at the request of local Social Services.
Income from rents on the top floor were partially affected and one tenant was given a rent holiday as their sector was completely closed down and they did not have access to Government support. Now that their sector is re-opening, rents are expected to be paid as usual. Consequently, the Trustees approved a conservative budget not reliant on their contributions. The Trustees applied for a government backed “bounce back” loan to enhance cash flow to Small World Nursery, and are currently pursuing an insurance claim.
The pandemic altered the focus of CIO activity to boost pastoral care especially to individuals who were shielding on Government advice, or were in need of assistance for essential shopping and collection of prescriptions. Extra staffing was directed to providing regular contact either by phone or doorstep to counteract loneliness.
An enhanced cleaning package was also brought in to ensure safety of those using the building during the pandemic.
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KING’S CHURCH LOUGHBOROUGH
TRUSTEES' ANNUAL REPORT (continued) FOR THE YEAR ENDED 31 MARCH 2021
Local Mission
As a consequence of the Pandemic and the move into lockdown, the Sunday morning gatherings of the King’s Church family changed from being “in person” to online using the Zoom platform. Safeguards were put in place to protect those attending by only offering the link to known participants. By the summer of 2020, Facebook live streaming was also introduced to allow access to a wider audience. However, the sharing of personal information was reserved until the end of the meeting once the Facebook live stream had ended. In addition, the meeting remained on “Speaker view” to protect the identity of the other participants, and there was a change from the use of pre-recorded music to live music to avoid copyright issues on Facebook. Despite these changes, the gatherings were generally well attended by those who had appropriate technology. Once the regulations began to ease, these Sunday gatherings were supplemented by outdoor garden meetings in small groups following Government guidance.
The gatherings continued to be focussed mainly on corporate worship, prayer and preaching/teaching according to various ‘themes’ that usually lasted several weeks at a time. The teaching, as usual, was carried out by a wide variety of speakers, most from within the church family with a few from outside, ranging in age from 20’s to 60’s and spread across male and female speakers. The speakers were encouraged to make their talks shorter in order accommodate being online but remain interactive, by using the “breakout room” facility on Zoom.
Provision was made to engage young people (11-18 years), through the youth group known as ‘Revolution’ and our younger children (4-11 years) through ‘Kingzone’, however attendance was reduced because of the difficulties of being online. Once restrictions eased, more informal outdoor gatherings became possible in line with Government guidance and these were often well attended with around 12 young people involved. The regular youth camps ‘Focus’ and ‘Connect’ were cancelled in line with Government guidance, as were other group activities such as ‘Playtime’, ‘Townwide Youth’, our participation in ‘Messy Church’ and the planned weekend away.
Once the schools re-opened in early July 2020 for the last week of term, we partnered with a charity to deliver food parcels known as ‘Bags of Hope’ to families who would have received free school meals but were disadvantaged by not being in school. We partnered with 5 local families through contacting local schools and continued to support them once the school holidays were ended.
We decided to upgrade the basement of the Schofield Centre to create a community pantry which could be accessed by all, including families who may be struggling with food poverty as an extension and re-development of our ‘OpporTINity’ initiative. We invested in building work to make the basement watertight by replacing an existing leaking roof, upgrading internal walls, floors and ceilings and upgrading the remaining pavement lights. The basement is now watertight and food-safe. We have recently appointed staffing to manage the Pantry. The costs were covered from gifts, grants and internal savings. The Pantry is known as ‘Cupboard on the Corner’ and at the time of writing it has 35 members and is growing fast. Regular deliveries are received from ‘FareShare’ (https://fareshare.org.uk/) and other local supermarket partners looking to redistribute food nearing end of shelf life as a means of reducing food waste.
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KING’S CHURCH LOUGHBOROUGH
TRUSTEES' ANNUAL REPORT (continued) FOR THE YEAR ENDED 31 MARCH 2021
The Trustees decided to keep Small World Nursery open to provide for vulnerable children and the children of essential workers. A bubble system was introduced in line with Government guidance to limit disruption in the event of a positive case of covid. During the first lockdown this was well contained but as the pandemic continued and especially once the Delta variant emerged, there was transmission from the community and several staff had to self-isolate. At one point the nursery closed because of the number of positive cases and staff affected. There was a significant drop in parental income but the nursery was able to access some grant funding from the Local Authority. Furlough payments were received in line with HMRC guidelines. Despite this the finances of the nursery have been adversely affected and we continue to monitor the position very closely.
Government funding continues to be received for eligible children and at the time of writing the numbers attending are slightly below expectations for the time of year. The Trustees have allocated money to be put aside to support the nursery if necessary.
Town Wide Mission
King’s Church continues to take an active role in the ‘Loughborough Churches Partnership’. Members of King’s Church support the ‘Street Pastors’, town wide prayer initiatives, however many moved online or were cancelled during the pandemic.
We organised and ran a very successful socially-distanced Christmas outreach activity for the local community ‘Winter Wonderland Walkthrough’, to offer a high-quality Christmas experience to all, including low-income families who would not normally be able to afford to take their Children to see Santa. This was managed with good social distancing and appropriate hygiene on an appointment only basis and attracted around 100 families over two days.
National Mission
The Church continues to enjoy relationships with churches in the ‘Together’ network and regular meetings continued again using the Zoom platform. As restrictions have eased, in person gatherings have slowly started to begin again.
International Mission
A number of members of King’s Church continue to sponsor children in the Bangalore Orphanage, India. We continue to develop relationships with the church in Zambia and contributed financially to the building of the community project at Lufwanyama through the Heap Offering which was also used to financially support a family who had relocated to Canada as part of a faith based leadership programme.
Contribution of Volunteers
King’s Church relies heavily on the voluntary work of its members to sustain the church's weekly activities. Given the size of the congregation (50+ adults and over 20 children/young people) it is very difficult to name all volunteers as the essence of membership in the church is a voluntary participation by all people.
Where voluntary workers are responsible for children or vulnerable adults, each volunteer’s history is first checked with the Disclosure and Barring Service before starting.
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KING’S CHURCH LOUGHBOROUGH
TRUSTEES' ANNUAL REPORT (continued) FOR THE YEAR ENDED 31 MARCH 2021
Diversity and inclusion
Following the increased international focus on combatting racism and the “Black Lives Matter” protests, we have intentionally decided to report on our efforts and activities to be an inclusive community seeking to increase our diversity and be welcoming to all.
The book club continues to meet monthly and is well attended by a small group of participants (10+). A range of materials, from a variety of sources, secular and Christian have been read and discussed addressing issues related to tackling racism. This was supplemented by a dedicated Sunday gathering addressing the biblical aspects of tackling racism. The trustees approved the allocation of a small grant to be given to organisations at the front line of tackling racism. At the time of writing, attention has been turned to discussing ways in which support can be offered to refugees who might be resettled in Leicestershire from Afghanistan, and the church has signed up to the Afghan Welcome initiative which seeks to mobilise churches to support resettled individuals.
We have also decided to continue to host our meetings via Zoom for the time being in addition to any physical gathering that might take place once Covid restrictions are ended. This is to enable people to continue to participate who may have difficulty accessing the building because of illness or disability.
Safeguarding
The Trustees take their responsibilities for safeguarding very seriously and continue to review the safeguarding procedures on a regular basis at Trustee meetings. Safeguarding personnel are adequately trained and are supported by the leadership team. Safeguarding for Small World Nursery is reviewed termly and annually by Trustees in line with OFSTED requirements. A substantial amount of safeguarding training was undertaken this year through “31:8” (formally CCPAS), including; Safeguarding of Children, Safeguarding of Vulnerable Adults, and Awareness of Domestic Violence in line with new legislation. Trustees have also attended training on their responsibilities for safeguarding.
Plans for 2021 and beyond
With the easing of government restrictions, the Trustees undertook a risk assessment before the commencement of in person Sunday meetings which have slowly restarted. Safeguards have been put in place to enable people to assess their own level of risk, personal contact and participation through the use of coloured lanyards. Good hygiene and ventilation is in place and mask wearing is encouraged especially when socialising with more nervous or vulnerable people.
Mask wearing, hand disinfection and ventilation is still heavily encouraged in the common areas of the building.
The Pantry continues to thrive and provide for families at risk from food poverty and there are ideas to develop it to work with other agencies tackling other issues of deprivation, ideally in partnership with local providers.
The Trustees continue to monitor the situation on a weekly basis, to assess and understand risk, and adapt as necessary to maintain a safe working environment and to continue to support the local community in need.
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KING’S CHURCH LOUGHBOROUGH
TRUSTEES' ANNUAL REPORT (continued) FOR THE YEAR ENDED 31 MARCH 2021
FINANCIAL REVIEW
King's Church Loughborough is dependent on donations, fees and charges to meet its operational costs. An annual budget is prepared, and actual results against this budget are reviewed quarterly by the Trustees. There are a number of factors affecting the Tithes and Offerings, including people moving away and the current economic climate, along with people passing away. Due to the regular review process any reduction in planned Tithes and Offerings mean that budgets are able to be adjusted as necessary in order to safeguard the Charity and its reserves. At 31 March 2021 the Charity had total reserves of £529,778 (2020: £503,564), of which £14,243 (2020: £12,981) was restricted, with cash at bank and in hand of £238,871 (2020: £177,804). The current cash reserves are within the allowable boundaries identified in the reserves policy.
Reserves Policy
The policy for holding some cash on reserve has been made for the following reasons:
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To accommodate the monthly fluctuations in income and expenditure e.g. the quarterly gift aid tax claim and the seasonal income from the Small World Nursery.
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To provide a buffer in the event of a significant loss of church membership and associated giving, from whom about 60% of the total Trust income is generated.
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To enable continuity of the Small World Nursery in the event of a sudden reduction in child attendance (30% of total income).
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To provide immediate funds to support the implementation of new projects in furtherance of the trust's aims as and when the opportunity arises.
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To provide finance for the development of the main hall as part of developing the Schofield Family Centre.
Level of Reserves
The Trustees feel that in order to fulfil the requirements noted in points 1 to 5 above, it would be appropriate to hold a minimum cash reserve of 1 month's total Trust expenditure and a maximum cash reserve of 3 month's total Trust expenditure. In 2020/2021 the total Trust expenditure was approximately £464,052 (2020: £508,713). This would equate to a minimum cash reserve of £38,671 (2020: £42,393) and a maximum cash reserve of £116,013 (2020: £127,179).
At the end of the 2020/2021 financial year the cash reserves included an amount of prepaid income of £56,108 (2020: £62,900) for the first quarter of the next financial year, and dedicated funds of £29,236, mainly in relation to the development and opening of the Community Pantry. Deducting these from the cash reserves total, the remaining cash reserves were approximately 3.9 times (2020: 2.7) above the minimum cash reserve, which the Trustees consider adequate.
In relation to point 5 above, whilst it remains a stated church objective of developing the main hall in the short term, to serve the growing church community and its associated charitable projects, it would be prudent to allow the trust reserves to exceed this maximum reserve to a figure of £1,850,000 (2020: £1,850,000).
Page 10
KING’S CHURCH LOUGHBOROUGH
TRUSTEES’ ANNUAL REPORT (continued) FOR THE YEAR ENDED 31 MARCH 2021
I report on the accounts of the Charity for the year ended 31 March 2021 which are set out on pages 13 to 28.
Respective responsibilities of trustees and examiner
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’) which give a true and fair view. The Charity's Trustees consider than an audit is not required for the year to 31 March 2020 under section 144(2) of the Charities Act 2011 and that an independent examination is needed. Since the charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 124 of the Act. I confirm that I am qualified to undertake the examination being a member of the Chartered Institute of Management Accountants, which is one of the listed bodies.
It is my responsibility to:
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(i) examine the accounts under section 145 of the 2011 Act;
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(ii) to follow the procedures laid down in the general Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act; and
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(iii) to state whether particular matters have come to my attention.
Basis of Independent Examiner’s Report
My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the Charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as Trustees concerning such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a 'true and fair' view and the report is limited to those matters set out in the statement below.
Independent Examiner’s Statement
I have completed my examination. I 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:
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the 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.
Richard Farmer CGMA Elbus Limited 23 Faraday Avenue ________ Stretton Richard Farmer CGMA Burton-upon-Trent Staffordshire DE13 0FX Dated: Jan
Dated: 21st Jan 2022_
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KING'S CHURCH LOUGHBOROUGH
STATEMENT OF FINANCIAL ACTIVITIES 31 MARCH 2021
| Income 16 Income from charitable activities Small World Centre 17 Cupboard on the Corner 18 Other charitable projects Other income Conference income Bank interest Investments Rental income Other Other income Total Incoming Resources Expenditure Charitable activities 3/16 3/17 3/18 3/16 Total Expenditure Reconciliation of Funds Total funds brought forward at 31 March 2020 Total funds carried forward at 31 March 2021 Transfers Net movements in funds Note Net income/(expenditure) before transfers Gross transfers between funds Main Church Small World Nursery Other charitable projects Donations & gift aid Cupboard on the Corner |
Note | Unrestricted / designated Funds 2021 £ 85,245 316,152 28,125 227 - 322 19,788 2,022 |
Restricted Funds 2021 £ 10,350 14,431 7,295 6,149 - - - 160 |
Total Funds 2021 £ 95,595 330,583 35,420 6,376 - 322 19,788 2,182 |
Unrestricted Funds Restricted Funds Total Funds 2020 2020 2020 £ £ £ 91,690 23,012 114,702 350,658 6,653 357,311 - - - 5,722 404 6,126 1,525 - 1,525 665 - 665 20,919 - 20,919 4,352 - 4,352 |
|---|---|---|---|---|---|
| 451,881 | 38,385 | 490,266 | 475,531 30,069 505,600 |
||
| 110,637 314,639 150 3,210 |
12,294 13,816 2,978 6,328 |
122,931 328,455 3,128 9,538 |
147,660 14,880 162,540 333,027 6,653 339,680 - - - 6,148 345 6,493 |
||
| 428,636 | 35,416 | 464,052 | 486,835 21,878 508,713 |
||
| 23,245 | 2,969 | 26,214 | (11,304) 8,191 (3,113) |
||
| 206 | (206) | - | 25 (25) - |
||
| 23,451 492,084 515,535 |
2,763 11,480 14,243 |
26,214 503,564 529,778 |
(11,279) 8,166 (3,113) 503,363 3,314 506,677 492,084 11,480 503,564 |
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derives from continuing activities.
The notes on pages 16 to 28 form part of these financial statements
Page 13
KING'S CHURCH LOUGHBOROUGH BALANCE SHEET AS AT 31 MARCH 2021 xed Aets 361,674 380,511 rrent Assets Debtors Cash at bank and in hand 19,799 177,805 197,604 238J71 264,(KB Creditor5- amounts falling due withln one year 75.905 74,551 NEf CURREKf ASSErs 188.104 123.053 Creditors- amounts falling due after more than one year 20.CIXI NET ASSETS 529,778 503,564 THE FUNDS OF THE CHARrrY: Restrirted Funds Special Offerings & other restricted funds 14 14243 11,480 Unrestrirted Funds Capital Fund Designated Funds General Fund 14 14 14 361,674 29,236 124,625 380,511 1,651 109.922 TOTAL CHARITY FUNDS 529,778 503,564 The accounts on pages 12 to 21 were approved by the Trustees, on 12 October 2021 and were signed on their behalf by: MRS M LAxfoN MRS S BRIGHTMAN The notes on pages 16 to 28 forni part of these financial statements Page 14
KING'S CHURCH LOUGHBOROUGH
STATEMENT OF CASH FLOWS AS AT 31 MARCH 2021
| 2021 | 2020 | |||
|---|---|---|---|---|
| £ | £ | £ | £ | |
| Cash flows from operating activities | ||||
| Net movement in funds for the year | 26,214 | (3,113) | ||
| Depreciation | 18,837 | 18,986 | ||
| Investment income | (20,110) | (21,584) | ||
| (Increase)/decrease in debtors | (5,339) | (4,423) | ||
| Increase/(decrease) in creditors | 21,354 | (8,651) | ||
| Net cash provided by/(used in) | ||||
| operating activities | 40,956 | (18,785) | ||
| Cash flow from investing activities | ||||
| Rental income | 19,788 | 20,919 | ||
| Bank interest | 322 | 665 | ||
| Purchase of tangible fixed assets | - | - | ||
| Net cash provided by/(used in) | ||||
| investing activities | 20,110 | 21,584 | ||
| Net increase/(decrease) in cash and cash equivalents | 61,066 | 2,799 | ||
| Cash and cash equivalents at 1 April 2020 | 177,805 | 175,006 | ||
| Cash and cash equivalents at 31 March 2021 | 238,871 | 177,805 | ||
| Cash and cash equivalents consists of: | ||||
| Cash at bank an in hand | 238,871 | 177,805 |
The notes on pages 16 to 28 form part of these financial statements
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KING'S CHURCH LOUGHBOROUGH
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2021
1. ACCOUNTING POLICIES
Basis of Preparation
The charity constitutes a public benefit entity as defined by FRS102. The financial statements have been prepared under the historical cost convention and in accordance with 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 issued in October 2019 (Charities SORP FRS102), the Charities Act 2011 and UK Generally Accepted Accounting Practice. The financial statements are prepared on a going concern basis under the historical cost convention, and are presented in sterling (see note 13). Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s).
Fixed Assets
Fixed assets are stated at cost less depreciation. Assets introduced from the previous Trust have been included at net book value. Depreciation is calculated to write down the cost or valuation of tangible fixed assets to their estimated residual values over their estimated useful lives at the following annual rates :
| Freehold property | 2% of cost |
|---|---|
| Improvements to freehold property | 10% of cost |
| Office fixtures and fittings | 20% of cost |
| Computer equipment | 20% of cost |
Income recognition
All income is recognised once the charity has legal entitlement to the income, when there is sufficient certainty of receipt and the amount of income receivable can be measured reliably.
Donations are recognised upon receipt and classified at that point as either unrestricted or restricted if they donation is for a specific purpose. No amounts are included in the financial statements for services donated by volunteers.
Interest on funds held on deposit is included upon notification of the interest paid or payable by the Bank.
Expenditure recognition
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that settlement will be required and the amount of the obligation can be measured reliably.
Expenditure is accounted for on an accruals basis and has been listed under headings that aggregate all the costs related to that activity, including support and governance costs. For more information on this allocation refer to the note "allocation of governance and support costs" below. Where costs cannot be directly attributed they have been allocated to activities on a basis consistent with the use of resources.
Charitable activity expenditure are those costs incurred in attracting voluntary income, and include expenditure directly associated with individual projects and support costs relating to those activities.
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KING'S CHURCH LOUGHBOROUGH
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2021
1. ACCOUNTING POLICIES (continued)
Allocation of governance and support costs
Governance costs are those incurred in connection with the management of the charity and its assets, organisational administration and compliance with constitutional and statutory requirements.
Support costs include central functions and have been allocated to activity cost categories on a basis consistent with their use of resources.
The allocation of governance and support costs is analysed in note 4.
Church Activities
Church activities include the costs incurred in holding Church meetings, outreach mission and other activities of a similar nature.
Lease and Hire Purchase Contracts
Tangible fixed assets acquired under finance leases and hire purchase contracts are capitalised at the estimated fair value at the date of inception of each lease or contract. The total finance charges are allocated over the period of the lease in such a way to give a reasonably constant charge on the outstanding liability.
Operating Leases
Rentals paid under operating leases are charged against income on a straight line basis over the term of the lease.
Taxation
Taxation has not been provided for on the result for the year of the Charity on the grounds that Section 505 of the Income and Corporation Taxes Act 1988 applies (exemption of Charities from taxation).
Restricted Funds
Restricted funds are accounted for in accordance with the particular terms of trust arising from the express or implied wishes of donors in so far as these are intended to be binding on the Trustees.
Capital Fund
In order that funds available for general purposes are not overstated in the accounts, the Capital Fund represents that part of the Church's funds which are tied up in fixed assets purchased out of unrestricted income, adjusted for depreciation. This is because such funds could only be realised by the sale of the assets concerned.
General Fund
Free reserves that are those available for the general purposes of the Church, after deduction of restricted funds, designated funds, and the Capital Fund.
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KING'S CHURCH LOUGHBOROUGH
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2021
| 2. GRANTS RECEIVED Small World Nursery Coronavirus Job Retention Scheme / SSP grants Unrestricted Restricted Restricted Charnwood Borough Council Discretionary Grant Unrestricted Cupboard on the Corner National Grid ESO Grant Restricted LCC Community Fund (1) LCC Community Fund (2) |
2021 2020 |
|---|---|
| 31,096 2,404 4,154 846 5,000 - 3,500 - 7,265 - |
|
| 51,015 3,250 |
The above includes government grants of £43,750 (2020: £3,250) in relation to Covid19 support. £31,096 (2020: £2,404) of this was specifically in relation to Coronavirus Job Retention Scheme and SSP reclaims.
Small World Nursery
Coronavirus Job Retention Scheme (CJRS) / Covid SSP grants
During the year the Nursery remained open but with very limited numbers due to Covid restrictions, and most of the staff were placed on furlough. The nursery did close for a short period in February 2021 due to the number of staff needing to self-isolate. The staff were slowly brought back as Covid guidelines and child numbers changed. CJRS was claimed in proportion of the parental income to government funded places as per the guidelines.
LCC Community Fund (1)
This grant was received towards the cost of wages. Although the CJRS was able to be claimed for some of the wages, more staff were needed to be furloughed than the amount the nursery was able to claim for. Funding was sought to help with the cost of the furloughed staff whose wages were unfunded.
LCC Community Fund (2)
This grant was received towards the cost of consumables and wages, as per the initial fund (1) above.
Charnwood Borough Council Discretionary Grant
This was an unrestricted grant towards the general running of the nursery during the pandemic.
Cupboard on the Corner
National Grid ESO Grant
During the year the Trustees decided to set up a Community Pantry aiming to reduce food waste and tackle food poverty across Loughborough. Funding was successfully sought from the National Grid towards the set-up costs which started during the year. The project is called Cupboard on the Corner, and opened in June 2021.
Page 18
KING'S CHURCH LOUGHBOROUGH
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2021
3. ANALYSIS OF EXPENDITURE ON CHARITABLE ACTIVITIES
| Note a) Analysis of expenditure on Charitable activities - unrestricted/designated funds Main Church 16 Small World Nursery 17 Cupboard on the Corner 18 Other charitable projects Total unrestricted expenditure 2020 unrestricted Analysis of expenditure on Charitable activities - restricted funds Main Church 16 Small World 17 Cupboard on the corner 18 Other charitable projects Total restricted expenditure 2020 restricted Total resources expended b) Analysis of support costs Staff Costs Office Costs £ £ Main Church 43,559 3,854 Small World Nursery - - Total support costs 43,559 3,854 Total support costs 2020 48,915 4,958 |
Note a) Analysis of expenditure on Charitable activities - unrestricted/designated funds Main Church 16 Small World Nursery 17 Cupboard on the Corner 18 Other charitable projects Total unrestricted expenditure 2020 unrestricted Analysis of expenditure on Charitable activities - restricted funds Main Church 16 Small World 17 Cupboard on the corner 18 Other charitable projects Total restricted expenditure 2020 restricted Total resources expended b) Analysis of support costs Staff Costs Office Costs £ £ Main Church 43,559 3,854 Small World Nursery - - Total support costs 43,559 3,854 Total support costs 2020 48,915 4,958 |
Activities undertaken directly Governance & support costs Total 2021 £ £ £ 19,993 90,644 110,637 306,915 7,724 314,639 150 - 150 3,210 - 3,210 |
Total 2020 £ 147,660 333,027 - 6,148 |
|---|---|---|---|
| 330,268 98,368 428,636 |
486,835 | ||
| 374,689 112,146 12,134 160 12,294 13,816 - 13,816 2,978 - 2,978 6,328 - 6,328 |
486,835 14,880 6,653 - 345 |
||
| 35,256 160 35,416 |
21,878 | ||
| 21,878 - |
21,878 | ||
| 365,524 98,528 464,052 |
508,713 | ||
| Premises costs Depreciation Total 2021 £ £ £ 19,510 17,856 84,779 3,443 981 4,424 |
Total 2020 £ 97,226 5,455 |
||
| 43,559 3,854 |
22,953 18,837 89,203 |
102,681 | |
| 48,915 4,958 |
29,822 18,986 |
102,681 |
Support costs are all allocated on the basis of usage/time spent.
Page 19
KING'S CHURCH LOUGHBOROUGH
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2021
3. ANALYSIS OF EXPENDITURE ON CHARITABLE ACTIVITIES (continued)
| c) Analysis of governance Legal & professional fees Independent review fees Accountancy fees - Main Church Accountancy fees - Small World Nursery Apportionment of support costs d) Analysis of other resources expended Conference costs 4. NET INCOME/(EXPENDITURE) Net income/(expenditure) for the year is stated after charging: Independent Review/Auditors' remuneration Depreciation Operating leases 5. ANALYSIS OF STAFF COSTS Employee costs during the year were: Ministerial support Salaries Social Security Pension Agency staff |
2021 | 2020 |
|---|---|---|
| £ - 700 2,670 3,300 2,495 |
£ - 700 2,630 3,300 2,835 |
|
| 9,165 | 9,465 | |
| 2021 | 2020 | |
| £ - |
£ - |
|
| 2021 | 2020 | |
| £ 700 18,837 2,059 |
£ 700 18,986 2,812 |
|
| 2021 | 2020 | |
| £ 9,700 313,182 13,305 5,007 - |
£ 21,911 321,549 13,980 4,851 372 |
|
| 341,194 | 362,663 |
The average head count of employees during the year was 25 (2020: 25)
The aggregate remumeration of key management personnel during the year was £58,455 (2020: £52,174)
There were no employees who received emoluments of more than £60,000 during the year (2020: £nil). Redundancy and termination payments made during the year were £nil (2020: £nil)
6. INDEPENDENT REVIEWER'S REMUNERATION
The independent reviewer's remuneration consisted of independent examination costs £700 (2020: £700).
Page 20
KING'S CHURCH LOUGHBOROUGH
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2021
7. TANGIBLE FIXED ASSETS
| Cost or Valuation : As at 1 April 2020 Additions Disposals As at 31 March 2021 Depreciation : As at 1 April 2020 Charge for year Disposals As at 31 March 2021 Net book value : As at 31 March 2020 At 31 March 2021 |
Freehold Property £ 409,687 - - |
Improvements to Freehold Property £ 53,481 - - |
Improvements to Freehold Property £ 53,481 - - |
Fixtures and Fittings £ 13,667 - - |
Computer Equipment £ 3,223 - - |
Total £ 480,058 - - |
||||
|---|---|---|---|---|---|---|---|---|---|---|
| 409,687 | 53,481 | 13,667 | 3,223 | 480,058 | ||||||
| 59,375 11,875 - |
24,461 5,923 - |
12,546 981 - |
3,165 58 - |
99,547 18,837 - |
||||||
| 71,250 | 30,384 | 13,527 | 3,223 | 118,384 | ||||||
| 350,312 | 29,020 | 1,121 | 58 | 380,511 | ||||||
| 338,437 | 23,097 | 140 | - | 361,674 |
All material assets are held for the Charity's own use.
8. DEBTORS
| DEBTORS Income tax recoverable on Gift Aid Other debtors CREDITORS : Amounts falling due within one year Deferred income Accruals Bank loans Taxation and social security Other creditors CREDITORS : Amounts falling after more than one year Bank loans 2-5 years |
2021 | 2020 |
|---|---|---|
| £ 10,870 14,268 |
£ 6,151 13,648 |
|
| 25,138 | 19,799 | |
| 2021 | 2020 | |
| £ 56,108 2,840 5,000 3,010 8,947 |
£ 62,900 2,845 - 3,711 5,095 |
|
| 75,905 | 74,551 | |
| 2021 | 2020 | |
| £ 20,000 |
£ - |
9. CREDITORS : Amounts falling due within one year
10. CAPITAL COMMITMENTS AND POST BALANCE SHEET EVENTS
There were no capital commitments at 31 March 2021.
Page 21
KING'S CHURCH LOUGHBOROUGH
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2021
11. RELATED PARTY TRANSACTIONS
REMUNERATION:
None of the Trustees have been paid any remuneration in their role as a Trustee. However, the following have been paid remuneration or received other benefits from an employment with the charity or as a worker/supplier for the charity in accordance with the Deed of Incorporation of the CIO:
| Mrs S Brackett, CIO employee (spouse of Trustee) - gift Mrs S Brightman, Trustee - special occasion gift Mr S Moses, Trustee - special occasion gift Mr A Hulley, ex-officio Trustee Self-employed ministerial duties, ceased July 2019. Mrs T Hulley, CIO employee (spouse of Trustee) Employment ceased July 2019. Mrs S Brackett, CIO employee (spouse of Trustee) |
2021 2020 |
|---|---|
| £ £ - 13,411 - 1,004 7,175 5,176 35 - 42 - 40 - |
Neither trustee Mr A Hulley or trustee Mr A Brackett took any part in discussions regarding the setting of remuneration in regards to their spouses.
No other Trustee or related party received any remuneration in respect of the years ended 31 March 2021 and 31 March 2020.
REIMBURSED EXPENSES:
No Trustees received any reimbursed expenses in the year to 31 March 2021 or 31 March 2020.
OTHER RELATED PARTY TRANSACTIONS:
During the year Mr A Hulley and Mrs T Hulley moved to Canada to continue Apostolic ministry. Various payments were made in the year to 31 March 2020 to Mr & Mrs Hulley in order to bless into this new work. During the year to 31 March 2021 Mr & Mrs Hulley were no longer related parties.
| Heap Offering from the congregation (restricted donations) International Mission - Apostolic Ministry gift Leaving gift & flowers |
2021 2020 |
|---|---|
| £ £ - 11,405 - 2,000 - 292 |
In addition, in the year to 31 March 2020 a restricted donation was received for Mr A Hulley through CAF and paid to him in line with the donors restriction.
OTHER RELATED PARTY TRANSACTIONS:
Trustee Mrs M Laxton commenced a room lease with King's Church for business purposes not in connection with King's Church. This was at a rate equivalent to other non-related parties. Rental income received by King's Church from Mrs M Laxton during the year amounted to £2,401 (2020: £1,558).
Page 22
KING'S CHURCH LOUGHBOROUGH
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2021
11. RELATED PARTY TRANSACTIONS (continued)
OTHER RELATED PARTY TRANSACTIONS (continued) :
During the year the Trustees and Related Parties have made donations to the Charity without attached conditions of £24,834 (2020: £16,010). Donations made with conditions attached (i.e. Restricted funding special offerings) amounted to £6,104 (2020: £7,748).
12. OPERATING LEASE COMMITMENTS
At 31 March 2021, the Charity had annual commitments under non-cancellable operating leases on
| Operating leases which expire : Within one year Two to five years |
2021 2020 |
|---|---|
| £ £ - 351 1,169 1,169 |
13. GOING CONCERN
The Trustees have assessed the risk to the Charity in relation to going concern and the impact the Coronavirus has had, both in the short and medium term. At the time of approving the financial statements, the Trustees have a reasonable expectation that the CIO has adequate resources to continue in operational existence for the foreseeable future, thus the going concern basis continues to remain appropriate.
14. ANALYSIS OF NET ASSETS BETWEEN FUNDS
| Restricted funds - Special offerings & other restricted funds Unrestricted funds - Capital funds - Designated funds - General funds At 31 March 2020 |
Note 15 |
Fixed Assets - 361,674 - - |
Current Assets 14,243 - 29,236 220,530 |
Liabilities - - - (95,905) (95,905) |
Total 14,243 361,674 29,236 124,625 |
||||
|---|---|---|---|---|---|---|---|---|---|
| 361,674 | 264,009 | 529,778 |
Page 23
KING'S CHURCH LOUGHBOROUGH
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2021
15. RESTRICTED FUNDS MOVEMENT ANALYSIS
| King's Church Bangalore Orphanage Zambia Ministry support OpporTINity Covid food shop Coronavirus Job Retention Scheme/SSP Individuals / small funds Small World Nursery Government funding Charity fundraising Leicestershire Community Fund Cupboard on the Corner Set-up donations National Grid ESO grant |
Balance at 31/03/2020 416 5,920 4,712 226 - - 206 - - |
Income 1,396 2,000 6,000 2,693 3,436 160 974 5,253 24 9,154 30 7,265 |
Expenditure 1,428 5,041 4,712 2,872 3,436 160 974 4,638 24 9,154 - 2,978 |
Transfers (206) (206) |
Balance at 31/03/2021 384 2,880 6,000 47 - - - - 615 - - 30 4,287 - |
|||
|---|---|---|---|---|---|---|---|---|
| 11,480 | 38,385 | 35,417 | 14,243 |
King's Church
Ongoing project support in Bangalore, Zambia, Ministry support and local food poverty. During the year there has been a significant amount of support with shopping for people self-isolating and shielding. This money was repaid to the church.
Small World Nursery
Coronavirus Job Retention/SSP
Government funding
Leicestershire Community Fund
Government support for nursery staff on furlough or isolating due to Covid, in accordance with guidelines for entities receiving government funding.
Pupil premium, special educational needs and disability access fund funding.
Grants to help cover additional consumables during the pandemic and to cover wages costs not covered by the Coronavirus Job Retention Scheme.
Cupboard on the Corner National Grid ESO grant
Grant towards the set-up costs for the community food pantry.
Page 24
KING'S CHURCH LOUGHBOROUGH
KING'S CHURCH INCOME & EXPENDITURE 31 MARCH 2021
| Income Tithes Offerings Gift Aid Heap Offering Special Offerings Other projects Playtime Revolution Kingzone Messy Church Breakfast with Santa Connect Support fund Rental income Room rents Other income Covid SSP grants Conference income Events Electric Feed in Tariff Easyfundraising/Amazon Smile Sundry income Bank interest Total Income 16. |
Unrestricted / Designated Funds 2021 £ 64,537 6,155 14,553 - - - - - - 227 - - 19,788 - - - 1,636 11 375 221 |
Unrestricted / Designated Funds 2021 £ 64,537 6,155 14,553 - - - - - - 227 - - 19,788 - - - 1,636 11 375 221 |
Restricted Funds 2021 £ - - - 8,000 2,350 - - - 20 - - 6,129 - 160 - - - - - - |
Total Funds 2021 £ 64,537 6,155 14,553 8,000 2,350 - - - 20 227 - 6,129 19,788 160 - - 1,636 11 375 221 |
Unrestricted Funds Restricted Funds Total Funds 2020 2020 2020 £ £ £ 66,122 - 66,122 9,957 - 9,957 15,611 - 15,611 - 18,907 18,907 - 4,105 4,105 1,877 - 1,877 - - - - - - - 42 42 320 - 320 675 - 675 - 362 362 20,919 - 20,919 - 1,525 - 1,525 2,850 - 2,850 1,678 - 1,678 37 - 37 2,638 - 2,638 429 - 429 |
|---|---|---|---|---|---|
| 107,503 | 16,659 | 121,919 | 124,638 23,416 148,054 |
Page 25
KING'S CHURCH LOUGHBOROUGH
KING'S CHURCH INCOME & EXPENDITURE 31 MARCH 2021
| Expenditure Going Mission Special offerings discharged Messy Church Church Catering Events Church Travel Playtime Heap Offering Support fund Grants Growing Kingzone Revolution Leadership Development Church Partnerships Training Ministry Expenses Running costs Heat & Light Rates Insurance Building Maintenance & Cleaning Office Professional Fees Independent Examination Music Licenses Publicity Bank charges Salaries Ministry Support & Tithe of Tithes Depreciation Total Expenditure Net Surplus/(Deficit) 16. |
Unrestricted / Designated Funds 2021 £ 1,382 - 980 - 51 44 32 - 1,739 500 2,192 6 100 750 1,638 - 6,769 2,506 4,581 9,097 4,056 5,495 700 1,092 170 614 45,852 9,700 17,856 |
Unrestricted / Designated Funds 2021 £ 1,382 - 980 - 51 44 32 - 1,739 500 2,192 6 100 750 1,638 - 6,769 2,506 4,581 9,097 4,056 5,495 700 1,092 170 614 45,852 9,700 17,856 |
Restricted Funds 2021 £ - 2,709 20 - - - - 9,426 6,308 - - - - - - - - - - - - - - - - - 160 - - |
Total Funds 2021 £ 1,382 2,709 1,000 - 51 44 32 9,426 8,047 500 2,192 6 100 750 1,638 - 6,769 2,506 4,581 9,097 4,056 5,495 700 1,092 170 614 46,012 9,700 17,856 |
Unrestricted Funds Restricted Funds Total Funds 2020 2020 2020 £ £ £ 4,097 150 4,247 - 3,176 3,176 958 42 1,000 870 - 870 9,006 - 9,006 189 - 189 2,561 - 2,561 11,405 11,405 1,656 302 1,958 500 - 500 1,894 - 1,894 735 - 735 1,182 - 1,182 375 - 375 645 - 645 150 - 150 8,617 - 8,617 2,685 - 2,685 4,788 - 4,788 13,733 - 13,733 5,218 - 5,218 4,843 - 4,843 700 - 700 838 - 838 154 - 154 633 - 633 51,489 - 51,489 21,911 - 21,911 18,004 - 18,004 |
|---|---|---|---|---|---|
| 117,902 | 18,623 | 136,525 | 158,431 15,075 173,506 |
||
| (10,399) | (1,964) | (14,606) | (33,793) 8,341 (25,452) |
Page 26
KING'S CHURCH LOUGHBOROUGH
SMALL WORLD INCOME & EXPENDITURE 31 MARCH 2021
| Income Parental income Government funded places Charity fundraising Grant income Coronavirus Job Retention / Covid SSP grants Other income Bank interest Total Income Expenditure Salaries Agency staff Food Consumables Heat & Light Waste Disposal Equipment Resources & Toys Small Equipment Training Advertising ICT Office Gifts (children & staff) Building Maintenance Health & Safety Charity Fundraising Professional Fees & Insurance Bank charges Hardship fund Sundry expenses Bad Debts Bad Debts Recovered Depreciation Total Expenditure Net Surplus/(Deficit) 17. |
Unrestricted / Designated Funds 2021 £ 95,374 180,922 - 8,500 31,096 260 101 |
Unrestricted / Designated Funds 2021 £ 95,374 180,922 - 8,500 31,096 260 101 |
Restricted Funds 2021 £ - 5,253 24 9,154 - - - |
Total Funds 2021 £ 95,374 186,175 24 17,654 31,096 260 101 |
Unrestricted Funds Restricted Funds Total Funds 2020 2020 2020 £ £ £ 160,265 - 160,265 188,120 3,220 191,340 - 184 184 - - - - 3,249 3,249 2,272 - 2,272 236 - 236 |
|---|---|---|---|---|---|
| 316,253 | 14,431 | 330,684 | 350,893 6,653 357,546 |
||
| 270,730 - 6,385 3,635 1,751 2,227 1,418 511 352 903 217 4,219 2,135 924 1,504 232 - 12,489 472 49 210 372 (520) 981 |
12,816 - - 686 - - - - 268 - - - - - - 22 24 - - - - - - - |
283,546 - 6,385 4,321 1,751 2,227 1,418 511 620 903 217 4,219 2,135 924 1,504 254 24 12,489 472 49 210 372 (520) 981 |
280,999 6,470 287,469 133 - 133 8,787 - 8,787 4,153 - 4,153 1,931 - 1,931 2,946 - 2,946 851 - 851 973 77 1,050 1,002 - 1,002 850 - 850 448 - 448 4,278 - 4,278 3,126 - 3,126 209 - 209 2,007 - 2,007 295 - 295 - 106 106 12,288 - 12,288 602 - 602 119 - 119 665 - 665 1,435 - 1,435 (524) - (524) 982 - 982 |
||
| 311,196 | 13,816 | 325,012 | 328,555 6,653 335,208 |
||
| 5,057 | 615 | 5,672 | 22,338 - 22,338 |
Page 27
KING'S CHURCH LOUGHBOROUGH
CUPBOARD ON THE CORNER INCOME & EXPENDITURE 31 MARCH 2021
| Income Donations Grant funding Total Income Expenditure Set-up costs Total Expenditure 18. |
Unrestricted / Designated Funds 2021 £ 28,125 - |
Unrestricted / Designated Funds 2021 £ 28,125 - |
Restricted Funds 2021 £ 30 7,265 |
Total Funds 2021 £ 28,155 7,265 |
Unrestricted Funds Restricted Funds Total Funds 2020 2020 2020 £ £ £ - - - - - - |
|---|---|---|---|---|---|
| 28,125 | 7,295 | 35,420 | - - - |
||
| 150 | 2,978 | 3,128 | - - - |
||
| 150 | 2,978 | 3,128 | - - - |
Page 28