KING'S (CHURCH L O U G H B O R O U G H King's Church Loughborough Annual Report and Financial Statements For the year ended 31st March 2023 Registered £harity No. 1160234
KING'S CHURCH LOUGHBOROUGH TRUSfEES' ANNUAL REPORT (continu8J) FOR THE YEAR ENDED 31° MARCH 2023 CONTENTS Page Trustees. Amual Report 3-12 Inderlent Examlnerfs Report 13 Statement of nan1)a[ Actvitses 14 Balan 15 Statement of Cash Ho 16 Notes to the Accounts 17-29 Page 2
KING'S CIIURCH LOUGHBOROUGH TRUSfEES' ANNUAL REPORT (ContInu) FOR THE YEAR ENDED 31° MARCH 2023 REFERENCE AND ADMINisfRATIVE DEfAILS The name of the Chaiity is lfjnds awrth Lowb09h. Charws regtster numbw ts Ilfy)234. The Charity's principal address is: Schofield Centre Greendose Lane Loughborol Leicesterthire LEII SAS DurirtsJ the year ended 31 March 2023 fotkmryng [x¥S send as Trust of the Charity: Fotiner Chair lths M Laxton (resIgl 2022) MTS S Brfghtrn (resigned 9" Awjust 2022) Mr A Brad(ett (resigned August 2022) Mr P Callan (resgned 18° May 2022) Chair Mr A Hulley (appointed Awust 2022) Mr G Duffty (apFK)inted 11 August 2022) Mrs C Hendery)n {app(Nnted * AUgt 2022) Mr G Parker (app(Nnted Il. AUSt 2022) The Core Leader5TrNp Team of the Churth during the year ended 31 March 2023: Mr A Hulley Mr G Duffty Mrs S Dur Mrs H Moses Mr P Callan Mr P Bene Mrs M Laxton Mr D & MTS K LoF¥J Ing's Church is managed on a day-to-day basss by Mrs K Long and Mr A Hulley. Small Worfd Nursery is managed on a day.tTrday basis by MTS M Whiljey, Both a overseen by the Twstees. Atle Independent RleW. And Russell FFA FMPAT APR Accountancy Sttvi Shan House 86 North Street Keighley BD213AF Bankw&' Santander Bank PIC Leicester Corp Carlton Park Budding 4, Le1 I Narborough Leicester LE19 OAL Askews Legal LLP S and 6 The QBdrant CVI 2EL Page 3
KING'S CHURCH LOUGHBOROUGH TRusfEES' ANNUAL REPORT (continued) FOR THE YEAR ENDED 31° MARCH 2023 The Tnjstees present the kxt and financÈal stathents of kng's Churth Lwghbmgh for the year ended 31 March 2023. The TDJ5t adopted the provisions of the strtnlt of Recommended PrdCtKe (SORP) 'knountrng and Rewtlng ty tharflles. 2019 {FRS102) in preparir¥J the annual rep and financial staternts of the charity. srRucfuRE, GOVERNANCE AND MANAGEMEP The Charity was estrdblished by a Deed Constittrtion as a tharitrble Incryrat Organlsation (CIO) on 29 January 2015. Recrultment and Appointment of Trustees Trustees are appnted by the exlsting Trustee FA)ard. from tr Charfty IFust&s, all Tnstee5 must te app)inted for a temi of three yeaTS by a l[bOn passed at a properly convened meeting of the thrtty Trustees. In seletting individuals fvr appointh)ent as Charity Twstees, the tharity Trustees must have regard to the skills, knowledge and experien needed for the dferttve administrati of the ao. Thls pro(S would take account of trse recommendations fr(m the recogni5ed SFMlitual leaders of the ao. The senior spiritual automatically will be apwinted as an ex-offiao Charity Trustee for as kjng as he or she holds that offltr. At the erKI of a term of three year5, any pwson retiring as a Charity Trust is eligible for reappointrna)t Apart fr(Mn the first Charity Tw5tees, a Charity Trustee who has sd for three consecutive terns may not be reapAnted for a fourth consecutive term, but rEapinted after an inteNal of at least orE year. All new arity Trustees rE1ve a copy the Deed of Conststution, a copy of the m05t recent Trustees. Annual Report and Staternt of accounts, and coples of the ao Polky and Procedures documents. Oryanisati The Charity is gtwemed in law by the and decisions may be ta either at a meeting of the Charity Trustees, or resolution In writiThJ or etectronic forn agreed by all of the Charty Ttustees. The mlnlmum numtEr of Tru*ees is three, and a MmuM of twelle. The spiritual wdfare and direction of the Church communty and tts acmies are the restK)nsTbillty of the Core Leadership t&im (one of V•thom is an exthio TrL), aciing wlth the advi and supp)rt of the Trustees. The Trustees rnaIn resP)ng for er6urtng that the Ccffe Leadership Team athities are commensurate to the goals of CIO a5 Stated in the Deed of ConlOn. The CIO has FKMErs to <b anything whkh is considered to fvrther its ¢)biects or 55 conduce or inadentsl to dolng so. Pa8e 4
KINGS CTrIURCH LOUGHBOROUGH TRUSfEES' ANNUAL REPORT (Cinued} FOR THE YEAR ENDED 31° MARCH 2023 Rlsk Management The Trustees have rewettd the major risk5 to thch t Charity is exwsed and systems have been estsb1ls to mitigate thc6e risks. Slgnificant external risks to inco are reviewd every six months ts) ensure that suffio.ent fvnds are in Intemal risks are and mlnimlJ by Ihe Trustees iry the imeMentati of procedures. Our Wicies and procedures are Titten to comply with the GDPR regulati(, to ensure safe handling and use of peFsonal dats, wthin the or9anisation, and a updated at least on an annual basis, or more regulady Jf necessary. OBJEcfIvES AND ACTrlmES The Deed of ConstiOn Ilmlts the Charws operation to sp8ific obiecbves and purposes. The objectives of the Charity are as ftllows.. The advancnent of the Christian FaFth and worship of Gxl in Loughborough, Leicester&llre and eisa¥hwe. The rdief of perwns in need, hardthip or (ffstress or vkn are aged or srcL The advancernent of ediKatlon on the basls of 15tan prinLies. In shapiFVJ ow ObjbveS and planning our activities, the Trustses have considerEd the Charity QJmmis5ton's gUIdae on publtc benrt irKludlng the gUIdan 'public benefit: njnning a Charity (PB2)' and the athrbes we [KoV fulty renert the purpjses f( which the ao was set up. The visloTr statement ts: The values that underpin our Church famlly are.. We See church as a vtbr3nt communty Itvtng as a lovFng famity. Our vlgon Is that everyone will understsnd G(xl¥ wrFMe, te passonatety rn ith JesLS and lfve autherttc Spwrit- filled Itves. We believe some of the gre4ltest rwuros re have a thar dreams and gifts. Page 5
iaNGS CHURCH LOUGHBOROUGH TRusfEES' ANNUAL REPORT (continued) FOR THE YEAR ENDED 31° MARCII 2023 We believe these come from GCKI ar•J are Hi5 way of expresstng His love for us, Involving us in His plan for the whote of wt1. We are committed to helping people discover arKI thrive in their dreams a1 the of gfG. We desire to cultivate environnEnt of faith, hope and love, and wre5s these through our joyi geroSty, Ca and sense of adventure. We encourage everyone to live a JesLS-centred life and, as His apprenti, resFK)nd to HIS commission in the context of communty. We want to help people find a K4ao to betoTrJ eXper1er the powerful dfert of dS k)ve and grace. We are motivated in every acyvty we do as 8 thurch family by jesu love, lrfe and mion. This shapes our very eSten4 kno¥Ylng that just as the Father sent Him 50 Jesus sends us. The Charltys dIUeS tFErefore are: Gorng CvnonsbBting a complete commitment to disathh4p- to be dtsciploj and to dlsople PrioritisirvJ an intentlonany mlssFonal way of life o A commitment to hospitalty atxl servanthocJ o A c(mmitment to ¥owirvJ' people Into communities, cities and nations DevebFrfng way5 of blessiThJ pwle thrrwh our creative generogty GrowlrKJ In love with and pPIe In our Christ4ikeness o In lifestyle-based kno&e of s nature and purpose In the dreams and gifts G(J has put in us In our ability to Serve and Oth people and God's WIH over our CY*vn In our relatiorship5 thrcxjgh aco)untability wtth each other ar4 variixts gifts as revealed in Ephesians chapter 4 In numLErs and infiuwKe Page 6
iaNGS CHURCH LOUGHBOROUGH TRusfEES' ANNUAL REPORT (continued) FOR ThE YEAR ENDED 31° MARCH 2023 ACHIEVEMEf+rrs AND PERFORMAN After effects of the pandernic became apparent In the form of ftactured rel*ionships and differin8 views wlthin both the Core Team and the Board of Trustees. This was coupled with a further reduction in congregation membership and so measure5 to streamline church services and initiatives vre put in pla. Sttète8ic measure5 tsken were aimed at both problem 501ving and priortknsing the pastoral Ca of the remaining congregats"on. After un5ucces5ful attempt5 to brin8 a resolution to a wtde range of issues the King's Church leadership team (the Core Team) was disbanded, and the congregation as it had tradits"onally met Wa5 Stopped. wtth the majorrty of members joinlng other I<Kal congregations. A new Board of Trustees was fomed takln8 measures to safe8uard the CIO'S interests and assets, coming to the conclusion that the Schofield Centre should be sold due to insufficient funds to keep tt running. Knowing selling the building woukl displace the Small World Nursery discussions with the Nursery Manager ensued, proposing and pursuing various options for its future. Board of Trustees.. The previous Core Team leader wa5 appointed as a Trustee and formed the new 8oafd of Trustees. The new Board members had previously served as frustees 3nd/or leaders of King's chLfrch. Due to prior knowledge and experience of the congregation and CIO it was deemed they were best positioned to help bring a clear lead. Core Tearn: Prior to the breakdown of the Core Team. and through to the point of the congregation ceasing to gather as it previously had. the Core Team provided good care of members. Congregants, and especially those with pastoral or practical needs. were supported by individual members of the team highlightin8 the ongoin8 setf-sacrificing nature of the leaders. Tenants". In accordance with tenancy agreements. tenants of the top floor office5 were given nots.ce of the planned sale of the building Local P•Yisglon Congregational meetings: As previously mentioned during the attempt to brlng a resolve to differences within the Core Team. there was a reduction in meetings for the thurch famlly due to the much smaller number of people. Gatherings were More centralised in the Sthofield Centre and were a mix of worship. prayer. meals with time in discussion 8roup5 on Sunday mornings and then some mid-week meetlngs goin8 through the 2417 Prayer Course. Pa8e 7
KINGS CHURCH LOUGHBOROUGH TRusfEES' ANNUAL REPORT (continued) FOR THE YEAR ENDED 31° MARCH 2023 Young people: The excellent provision for young people unfortunately ceased as onty a few pre-school children now remained. A spate in the rnain hall was created for parents to care for their own children durlng the meetin. Town Wide Misslon Playtime Following the enforced pandemit dosures. Playtime sUMed at the end of September 2021 both Tuesday and Wednesday mornings. From April 2022 untll December 2022 attendance wa5 a lot lower than it had been prlor to COVID-19. There seemed to be number of reason5 for thi5: many of the children had moved on and gone to nursery or school: some families were still nervous about being in an enclosed space," families didn't want to do the same thin8 every week; the redd numbers afferted the atmosphere so some families didn't enjoy being part of a small group/event. Playts'me was also one of the last playgroups to reopen due to Small World Nursery continijing to need the space to do their handover5 to parents. who were a711 not being admitted into the building. and this meant that some families had simply found other playgroups to èitend. Volunteer numbers were also affected. with people being relurtant to ¢ommrt to being part of a regular team or even attending weekly. To run sessions Playbme had to 'borrow' volunteers from other projects in the building. By December 2022 the situkn'on vas no longer Tkable. and following the Chrlstmas parties the decision was made to remain dosed after the holiday season. Breakfast with Santa Our frdmily outreadi event. BWS took plao on Saturday 3 and Sunday 4 December 2022. Families contribute a minimal amount to attend the event. This indudes a small cooked or continental breakfast for the children ond a hot drink and pastry for adults,. a vF5it to Santa and a small gift.- a bag of age-appropriate Christmas crafts to take away. Families were also offered an opportunity to take part in our Journey to Bethlehem. a5 a free addition to thelr Santa visit. This was a chance to experlence the nativity story through craft and stories. Both elements of Bakfast wtth Sants were very well received véith good feedback from families about the standard and provtslon of the evenL Over the 2 day5 50 familie5 *tended: 95 children aged O to 13 years and 87 adults in totsl. Page 8
KINGS CHURCH LOUGHBOROUGH TRusfEES' ANNUAL REPORT (continued) FOR THE YEAR ENDED 31° MARCH 2023 The HUB Projert The HUB Project be8an in May 2021 as a subsidised community pantry called Cupboard on the Comer. By April 2022 the membership number was 196. The number of new households that joined the pantry for the period April 2022 to March 2023 was 151. representing 247 a¢Yults and 192 children. 57 households renewed their membership for a setond year, representing 96 aduEts and 67 children. This makes the total number of membership subscribers during this period 208 household5 representinE a tot41 of 343 aduh5 and 259 children. The average pantry attendance during this period was 85 households per week. At the end of March 2023. the total number of members was 356, and the nurnber of families looking for support continues to rise. During this time period The HUB Project expanded to include a fre*tO-use clothes bank lThe Corner Boutique) and a pay-as-you-feel communFty Cafe {Kir5Vs Cafe). These two Services underpinned our existing community work by providing support that the pantry members were asking for. We began fund ralsing to develop the cafe into a safe communtty space and Warm Hub forthe wlnter months. International Mtssion A number of members of Kin$ Church were sponsoring children in the Bangalore Orphanage. India. This support conts.nued despite the Sponsors movtng to different congregations. Relationship5 Wlth the churth in Zambia have continued to develop and with financial contributions made to the building of the communtty project at Lufwanyama. Building work had stalled durlng the pandemic but is progressing once again. Voluntew3 King's Church relies heavity on the voluntary work of its members to sustain the church's weekly acttvities. It is difficult to name all Voluntee as the essence of membershlp in the chLtrth 15 a voluntary participation by all people. Whefe Voluntary worker5 are responsible for children or Vulnerable adults. each volunteer's history Is first checked with the DiSCsure and Barring Service before Starting. Page 9
KINGS CHURCH LOUGHBOROUGH TRusfEES' ANNUAL REPORT (continued) FOR THE YEAR ENDED 31° MARCH 2023 Diversity and Znduslon The continued use of hybrid meetin8s and pastoral visrts ensured those most vulnerable to isolation and eydusion were encouTr8ed and cored for. Communion was planned and administered with careful thought gr'ven to how people from various lrfe experiences (such as addicty"oA51 and medical conditions were provided for and given the opportunity to take part. As participation is on an individual's own volition some chose not to take part. without question or judgement. Safeguarding The Trustees take their responsibilities for safeguarding very serlously and continue to review the safeguarding procedure5 on a regular basls at Tnjstee meetings. Safeguarding personnel are adequatety trained and are supported by the leadership team. Safeguarding for Small World Nursery is rwewed tsrmly and annually by Trustees Én line with OFsfED requirements. Plans for 2023 and bey1 -House Churth- With just a few of the King's Churth member5 remaining the focus will be to fdther in house. These Smaller group meetings have been an essential part of the churthes functFoning and will continue to be moving forwards. Sale of 1xdIng Our Agreed Artides. Policie5 and Procedu$ and regular (ommuniL*ion with the Charity Commission is providing the necessary guidance for the Trustees in ptsrsing the sèle of the building in order to safeguard the future of the CIO. The Trustees will continue to work with the Small World Nursery manager to pursue options for the nursery's future. A search for new premises to ensure a searnless transition for the HUB Project is underwav. Name dnge for the CIO A change of name for the ao is permltted withln the scope of the A8reed Articles and will be pursued at the appropriate tirne. Page 10
KINGS CHURCH LOUGHBOROUGH TRU5fEES' ANNUAL REPORT (continued) FOR THE YEAR ENDED 31° MARCH 2023 FINANCIAL REVIEW King's Church Loughh)rough i% deFeTrdent on dcationS, fees ar charges to meet its operational costs. An annual budget is prepared, and artual results against this budget are iewed quartedy iv the TNstee5. There are a numt)er of fart0 affecting the Tithes Bnd Offerfngs. induding people rnoviTr] ayfdy atm1 the current economic dimate, along with FEople Pang away. Due to the regular remew process any reduction in pfanned Tithes and Offerings mean that budgets are able to be adjusted as necessary in order to safeguard the Charity and Fts reserves. At 31 Mard) 2023 the (J)arFty had total reserves of £393,767 (2022: £446,131), of whith £2,628 (2022.. £4,508) restrictsj, with cash at bank and in hand of £125,798 (2022: £130,319). The current cash resms are within the allowable boundaries identified in the reserves pdicy. The Fdlcy for holdirfj some cash on reserve has been made for the followtThJ reasons: l. To accommodate the monthly fluctyations in income and Qwendite e.g. the quarterfy gift aid tsx daim and the irKome ftDm trE Small World Nutsery. 2. To promde a In the evert of a sgnificant k)ss of church membership and assodated glvlng, from whom about 6(PA) of total TnJ5t income is generated. 3. To enable continuty of the Small World Nursery in the event of a sudden reduction in child attendarKe (30%t of tDtal income). 4. To provide Immediate funds to 5UPPOrt the imptementstion of wojects in furtherance of the tnjsvs aims as and when the Dp[1nty arises. The Trustees feel that in order to fvlfil the ra]uirements noted in polnts I to 4 above, It would be appropriate to hold a minimum cash reserve of I month's totsl Tnjst expenditure and a MmuM cash regerve of 3 month's totsl Trijst exwditure. In 202212023 the total Trust expenditLrre was approximatdy £521,809 (2022: £546,047), This would equate to a minimum cash rEserve of £43,484 (2022: £45,504) aNI a maximum cash SeNe of £130,452 (2022: £136,512). At the el of the 202212023 financial year the cash tEsetves tnduded an amount of prepa5d income of £40,394 (2022: £1,102) for the fiT& quarter of the next financial year and (JedFCated fiJnds of £l,C61, mainly in rdation to the deveFopment and openlng of Cupboard on the Corner. Deducting these from the cash reserves totsl. the remaining cash wrves were appr0matelY 2 times (2022: 3.9) abe the minimum cash reserye, which the TnL*es consider adequate. Pa8e 11
KINGS CHURCH LOUGHBOROUGH TRusfEES' ANNUAL REPORT (continued) FOR THE YE4R ENDED 31° MARCH 2023 Annual budgets are prepared in thKe of e&h firnCId )Ear, th& exFthI Inco arKI endItU are balanc&Y, th• pThtding no net ileaSe or in the amount cash reserves outsKle clthe px4icy. The level of reser vAlI te on a r8Jular th2 nml TNstees' Mting$. Adjustments tL¥ Wgets will rn athan of each finarKial y83r to eUre that trust maintain5 s reseeS wtthin the prwrLd IHnits. Reserye5 Polry y71 Ee revie1 annualty in wtth prodtion of annual accounts changes to the re pcrfy will LE agreed ty Tr a1 mlnLrted W>1jty. L•4 ap[4Ka1 tr) charitEs in arml wa reqL the to prete fiThyKial statgw5 for eath flnavKial year wlxth we a tjue and fatr view L the flnanoal a(tivRies L* the Crity durir Ihe year. ar#1 of the flTh3noal IYAi)n of Charity at the of the year. In pre[4vir finartial Ststents gbVUW a èrdl fdir vw. the Tnth should fDikn¥ best prndice and . Make sound and stimates that are reasonth arkl and have teen fth¥ol, subhl tv ary di5dosed and e¥plaI in the finala1 Prepare the firthoal statwts on c(rKwn unkn ft ts apwopriate to fnCIal poskn of the Chty and whrch tkn tr) wJre that the firaTlat sktem compty with applt(able regvlaiior6. are a19) r&[tsible for saf8Juardlng the assets of ts AThJrew Hul Lknl . li" 2024 Gifes Parker Dat&J . ii" Novemtw 2024 Page 12
KING'S CHURCH LOUGHBOROUGH TRusfEES' ANNUAL REPORT (continued) FOR THE YEAR ENDED 31° MARCH 2023 l on accounts of for the year 31 Marth 2023 whlth are s& on pages 15 to 30. As the Charity5 rnj5t afE reSnSIble for the WelIatM ( xcounts in accord wrth the r4ultnerrt5 of the Charitk5 kt 2011 P£n which gi4E a and fair th. The Charivs Tnstee5 (pns¥kr that an au is It r1r8 Far ended 31 f•laTch 2023 under wtion IW2) of ttte Charitses P£t 2011 arKI that an tThJeFendent ExBminatJn s led. sin the ariVs gross Income exceeded £250,000 your examiner must a memLw of a list&1 in section 124 of the Art. I confinn that l am qualsfied to uNlertake the examinatN)n, a mwtber of the Institute of TranCial Accountsrts, which is one of the listed trKKJEs. It Is my rIbIlIty to . examine the CoUnts urbts sert11 145 of the 2011 to folkTh¥ the praUTeS thwn ffl the general Diretttons gi ty the Qharty Commission under section 145(5)(b) of the 2011 Att; and My examination was orri&l out in acCOrdae ttt gerETrl DI1(5 ghn by the Charty Commissx)n. An eXamIrtan indLJes a le+¥ of the accountirtrJ recorrls k£pt by the Cknrity and a unusual ttems or dtsc10r¢s tn the accounts, aThJ 5eeklng expkrtatyjns from a5 Twsttts concerning such matters. The pKralure5 uThJertaken do nrt pThide all the evKfjen that wo¥Jld Èe rquIr in an avdit arKI 0)nSeq M 0pM is gfven as to vhkn the accourts a Irue I have my examination. I confim that Th) material matters have come to my attendon fn connectiDn with the examlnatM)n giving me cause to lIeVe that in any material asFect . i. the accounting record5 were not kept in res of the Chaniy as r8]uirèJ by sect)n 130 of the 2011 Actr, 2. the accounts th) not accryd with those rec(*ts: ( 3. the accounts do not compty with the applKatAe raWirnents corteming the fom and content of accounts set out in chareS (kcounts and Reprts) ReJuLatlons 2008, 0th tn any requirement that the lltnts grve a arttl fair vieK, Whth 15 not a matter Consid¥ to LE part of an ExAminatM. I have rK) concerns and rO$S other matters In Connect1 wth the examination to whtch attention should be drawn in thts Eepxt in c¥der to awble a ryoper urwkntanding of the Andrew Russell FFA FMAAT APR Accountsncy Limited Shan Htxtse, 80-86 Ni)rth Stre¢ Keighley West Yorkshi, BD213AF AndTew Russell Datoj . iith N(wnbw 2024 Page 13
FOR THE YEAR ENDED 31MARCH 2023 Income y&773 Smdl Wd 331157 &448 3.f Z5231 9*96 718 304.823 325 32L148 ¥4 Z8 237 237 224 24,224 6.481 437,85 24 4614 Makn Chwth Small Worky thJthy 17 12933 3LEJ17 ias.ns 315.615 57.597 2.839 141,317 331555 64914 3.261 8A48 25 940 4317 422 51 17 a52S4 SJL766 34.281 SI67 1SLB711 73,912 . 83,647 I7) ISU641 P3JU) 183.64n funts at 31 Marth 2021 441623 515535 14.241 $29,778 31 Marth 2022 393.767 446.tsi Page 14
AS AT 31 MARai 2023 2023 325.Y38 343,736 Debto Ca&fj * b3fik In harKI 26.6n 17551 I.31> I4?11 71x6 17.142 8L163 12on9 133a4 14334 NEf ASSErs 393.76P Spsial Offerings & 14 Catal Fund 14 14 14 32%938 34736 General Fund 64.920 TOTAL CHARTfY FUNDS 393.767 A46.g1 Pdge 15
STATEMEKf CASH FLOWS AS AT 31 MARCH 2023 20 2022 1543641 iY.798 127,707) 19.1191 39.164 1816471 L7.938 124,4611 7586 ISOA291 {[ncreaSe)Idrea5e kn delrtrKs (35h tyl( in) 132.2281 Rentsl incLYne 24,D4 23? JJ69 ty1(UE8J w)} 27.n7 24161 11085521 Cash tath eqillvkn at I 2022 23L871 125.798 IXl319 Cath at bth¢ th haThl 125,79B )319 Page 16
KINGS CTrWRCH LOUGHBOROUGH FOR THE YEAR ENDED 31 MARCH 2023 The charity (Dnstitlts a health tentht tity as by FKSL02. The financial statemwts Iwe F(ep3red under the histrix(£l ty) conlthion aThJ in ac0Xdare PKrfjurtiro and Reporting by IDes ". gatemert of RQMMended Practice applio14e to dkr"eS praan9 their in rrtan wtth the Finan(ial slaTh aOKabJe in the UK Pwic of Irdand in cLtcA)w 20101(knlJes 1p FR5102), the Charities Att 2011?d LIK Ge)aRy Accep Pmyjntiry and are kxeseited in (see Tr)te L3). Assets aThl liatiltties a ir1ibal recognt5ed at his(al ¢)Jst or at ret 0k vaJu& Depial)n i8 dalat8J to lte down the o) or Wdljation of ts1¥Jie ftxed assets to 2%ofcc IO%oftr comwter 8JiiFwt Donatiorts are rKogrtiseJ w recept and d3fied at that rMt as th Lmrtsth"rted ( rethctEd ifttte tnteyest funds W OD (W is 1xthi1( rfthe irteYe p&kl or poyable tw the Bank. iRknliOes are rnis as exkvKIEiure as s(on as thae a18Jal coligat)n ca77m¢iti"ThJ the chaTty to that erture, ft Is kxoith ttot %•il te Mw"red and tt anryjnt rf the cijligati n measu rellaljy. E¥pendibJre Is an b•15 and has ten urthr htrathrus that a93reg* all the costs relataj to that vity. ithJir¥J W and )vernM cogs For n InfOrnljn on this 4lkthty" Pa3e 17
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 IIARCH 2Q23 The katiC ofgownarxx and cogs s anatsl in nrte 4. a smlar na Tanglt4e assets aCould urmler firorKe lea a1 hwe puth c(xTrtsacts are Ca11 attre eslmated fair value at tr date of TrnCeF ofeKh lease w (oJrtra(L The tcd are allrK3ted Othe oflease In a VRY bj fft a re8sW cOngth¥ge (ffi the outstJ)diThJ IkaLllli. OpeRtln¥ Le#se% Rentsts pkl opuatir¥J SeS a a3ainst a •ht line Ws o¥trthetemJ tease. Ta¥atloA Taxabon has not rexttftrthe T0fthe Charty rffl the grouihts th#t Sg"on 505 L the IncoJr aTrJ Coryxjth Taxes 1988 a[Re5 (eXgW•n rf tharities frorn taxatwjn). ofthe thn5 h) w ts¥ asitrse are WtrKJed tD be t¥"TrJi)g tots Trustees. that part ofthechurch'sfurbts whtth a td LP in fixoj as*ts ofunrÈttrKknI irKw aJJu5ted dned fiJFxls aThl the Caiknl FurMI. Page 18
NUfES TO THE ACCOUKtS FOR THE YEAR ENDED 31 MARal 2023 2023 2022 Nits'onal Grid ESO Grant Nats.al Lotr gr&tt Othr gRnts 24,018 LwJhborgh, owied In kne 2021. Page 19
MOTES TO 7HE ACCOU1$ FOR ThE YEAR ENDED 31MARCH 2023 Tctsl 2022 OwF¢h s1 Workj rp)3rd on the CoTner 15,755 292Tr1 112551 k3,77B 128.3C6 306,669 $0I51 729 135,715 315,615 57,597 2,839 126J29 486.55S 511,766 I273 511,7e6 Makn Cthurth Small Workl Cuptsmrd OTS the Comer I75 L575 13,024 16,940 4,317 25,231 35254 35.2Y 34.281 34.281 34,281 12fi329 S21,9 541047 b) Anatyss of YJFP*t Costs 2023 2022 T(h SrtX311 Workl Nuwsay 58250 3. 1750 I719 4,161 17,798 97,%7 6.911 103,011 5,227 58.250 6,650 21. 17,Y98 104,478 108,238 s3rI] 7.173 29a27 17.938 10&238 Page 20
KINGS CHURCH LOUGHBOROIIGH rioTES TO THE Accouiirs FOR THE YEAR ENDED 31 MARCH 2023 2023 2022 L8Jal & prDfes%onal fees 875 6,PA15 7,055 4,570 Accwntsrcy f. Main thurch ActcAJntsrry fees. Small WLYhJ Nwwy AppX)rbonmt gJPFJt costs 5,667 4,179 14?74 19,305 4. NEf INCOMEI(EXPENDrnIRE) Net income/(exdIre) for the yr s sta1 afterdk¥gkyJ . Indewdent Rein¥lALliknrfs reMtn Depreci&"on i%watlrvJ lea*s 875 17,938 2,474 17,798 5. ANALYSIS OF sfAFF cosrs Employee costs durtng the were min(steal gJprKrt SaJaTies S(Klal Secwity Pauon 314,673 13,639 5,289 12,274 5.518 329, 343,3 The ayew rj count thlrtro yEar 26 (2022: 29) Tfrve empbw V4tt) CeNe Mts £60.oc thJrtr¥J the year12022 £nil) 6. INDEPENDEKf RE¥% REDNERAON Page 21
KINGS CMVRCH LOUGMBOROI NOTESTO THE ACC(Altirs FOR THE YEAR ENDED 31 MARCH X123 A5 at i 2022 409.W S3.4 ll,E67 3,223 48CI,058 As31tsthX) 4LVJ.E87 53.481 13.&fj7 4.056 Depwlatlon: As at l Aprl 2022 Charye year 36,xi7 13.667 13&322 17,798 A5 at31 2023 41230 13,f7 3223 154,120 A5 * 31 frIa 2022 326.562 17.174 343,736 A• at 3114• 2023 314.687 IL251 325,938 AN matErb?l a$ts are hek4 ftythe own 23 2022 4,327 8,251 4.974 Cth¢ debto Loan to Netde Hd 6.173 io,L 26.1 I7,2 1,102 Accruals Bank ljans Tardthjn and seLuwty 3,470 17,913 3,036 14.164 71D36 27,142 Bank k>ans 2.SyeJ5 13534 18334
KINGS CHURCH LOUGHBOROUGH NOTES TO THE ACCOUNIS FOR THE YEAR ENDED 31 MARCH 2023 11. RELATED PARTY TRANSAcrtoNs None of the Trustees havE been paid any rernunernti in thelr trAe as a Tw5tee. However, the following have been paid remuneration or other nefftS from an em0Yrnent wlth the charity or as a ¥rUpler for the tharity in accordance with the Deed of Incorporation of the Cto. 2023 2022 Mrs S BracketL ao employee (spouse of Trusfee) Mr A Hulley 15,552 5,893 9,502 Trustee Mr A Brackett did not tske any part in thscussions regardirKJ the setting remuneration in reganls to hls spouse. other Trustee or related party recefved any remuneration In rwect of the years eIed 31 March 2023 and 31 March 2022. REIMBURSED EXPENSES No Trustee recelved any reimbur expenses in the year to 31 Marth 2023 or 2022. OTHER RELATED PARTY TRANrnONS Trustee Mr5 M iaxton CtInued to Fease a rlhyn from iang's thurch for bu51ness purposes not connected with rj,5 Church. Thi5 Yrns at a rate equwalent to other rton-reiated paities. Rental income receNed by K]ng% Churth fM Mrs M Laxt(ffi during the year amount to £2,400 (2022 £3,032). During the year the Trust*5 and Rdated Partles ha made donations to the Charity amounting to £6,310 (2022 . £18,481). Page 23
KING'S CHURCH LOUGHBOROUGH NOTES TO THE ACCOUNYS FOR THE YEAR ENDED 31 MARCH 2023 12. OPERATING LEASE COMMMIENTS At 31 Mard) 2023, the Clkirty had armual ccfflmRT[ts nM£aKdlabk 0tirj leases on . 2023 2022 WitPMn one year Two to five y05 1,169 1,271 13. rING CONCERN CIO has adeqt*te to continue in 1yRlicaI eSteTh for the ft)ratAe fLtsre. thu5 the Current RestriLted lund5 Capital funds tksJgnated ftFnds General fuThts 325,938 325,938 1,081 64,120 148,760 (84,640) At 31 March 2023 325,938 I2,469 {84,640) 393,767 Page 24
KINGS alURCM LOUGHBOROUGH FOR THE YEAR EP4)ED 31 MARCH 2023 Balano at Balance at Retsined or 378 2592 942 1,320 Zambia Mlrstry OppuTtNty IThJIdlkIS 15mBII fijr (2,592) 1.038 165 1.255 2,128 500 G(weMtnt fuThlirvJ Clk2iaty fwx1tThJ 8J2f 124 124 H&p Offert Nati(Mal Grid ESO gra)t Nab"0Th31 LOttY gant 1.213 1213 9.763 2,405 2,250 2,405 2.250 Other grants 34,711 35.254 (1237) 2,628 11 World N Naticnal GfKI ESO grw PaJe 25
FOR TME YEAR ENDED 31 MAROI 2023 i& Funts 2023 23 2022 2022 66.257 f4,257 ftA)J Heap QYolrvJ 7,216 18,501 1,032 497 259 497 259 379 1,4£3 1,413 24224 1266 123 4,161 4,161 1.750 Sok 1,500 r>Jry L226 L157 558 1.1 77J6D Im2 7B.792 iU988 4221 132,Z(Y3
KING'S CHURCH INCOME & EXPENDrnIR FQR TIIE YEAR ENDED 31 MARQI 2023 17. Fd5 Fur¥ 2023 2023 2022 2022 2,432 2.432 1.032 2J13 2,231 SrMSal Messy U)wth Churth Catering 2,231 705 3.041 1,315 4,131 4.131 Churth Travel 391 391 613 613 to71 1.761 lap Offe IOa71 422 543 nts Kinu2(¥)e Iso 192 102 150 192 102 354 354 583 871 871 Trthrllr Minl#ry EXFW RufinirJ co*s Heat & Lbjht Rates and W Insuran Buibliw Malrtenan & ae3nitYJ 650 iU67 10.179 10,179 1.681 4.032 31 3fi71 11.4( 11,404 offi pr&eSsnd1 F 4.209 6,959 875 815 4209 6,959 /5 815 Mu%c LKenLES & PA 911 177 1.019 911 177 l.019 Bank chargts Mknlsty pPffi& Trthe rfTthes 7.700 17,798 7.7( 17,798 17.798 17,798 129.035 L575 130,610 138.554 24 151,578 Page 27
Fund5 2023 2023 Parental irKcffje 171222 5.152 1.179 170.¥6 131,179 186.852 8J24 ISJ,476 Grant incDme 625 602 217 212 34017 304 IW 321,201 Saies ?59,1 4J17 11407 I7901 3.4&5 3.456 3.fO7 3,456 7.481 7,481 4,189 132 123 132 IQ3 Héat & Wit 4.161 4.161 EquM)t 674 242 674 X2 Sm1 EqLrfprr 62 MAeage 6qS 1.431 L431 3,5 878 749 fithng Mairttiat Mealth & Safety gaff Uryforn 12 178 178 39 7.931 7.991 377 io.w) io,c Bank dws 826 trLBrdthEP fiJTrJ 132 132 514 140 140 TOlE¥P1n (9 4448 31&U7 315.615 16PIO 332,55S {iO.TJ9) (615) (112541
FOR THE YEAR ENDED 31 MARCH 2023 19. Funds 2023 2023 2022 2022 2022 13.577 13577 1213 1503 lap ()fft¥Js 1213 7J12 712 nt kndlng .0 175 175 Rdea offvTrSs 292 2592 Total INcoffle 25231 ExpeTrdltyve Wages 35,294 8067 2,69) 87 2,650 15,809 2,163 6,342 941 A75 21,817 163 al medra aothes Lknk Bafik cha 150 1.231 if6 4,317 5,095 28fi51 ikliry upgrade Café set up coas Mil&ge TepT 166 26A51 1.173 io io Total ExpwNliture So1 25231 57597 4317 61,914 24246 26246 48AO7 - 4J17 52,924 Page 29