KING'S tCHURCH L O U G H B O R O King's Church Loughborough Trustees Annual Report and Financial Statements For the year ended 31 st March 2025 Registered Charity No. 1160234
KING'S CHURCH LOUGHBOROUGH TRUSFEES, ANNUAL REPORT (continued) FOR THE YEAR ENDED 31 MARCH 2025 CONTENTS Trustees, Annual Report 3-19 Independent Examiner's Report 20 Statement of Financial Activities 21 Balance Sheet 22 Statement of Cash Flows 23 Notes to the Accounts 24-33 21 Page
KING'S CHURCH LOUGHBOROUGH TRusfEES' ANNUAL REPORT (continued) FOR THE YEAR ENDED 31 MARCH 2025 REFERENCEAND 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: The HUB Project 22-23 Market Street Loughborough Leicestershire LE113ER During the year ended 31 March 2025 the following persons served as Trustees of the Charity: Mrs Rebecca Allen Mr G Duffty Mrs C Henderson MrA Hulley Mr D Long Mr G Parker The Leader of the house church during the year ended 31 March 2025: Apostle MrA Hulley King's Church CIO is managed on a day-to-day basis by Mr A Hulley, and overseen by the Trustees. Independent Reviewer: Andrew Russell FFA FMAAT APR Accountancy Seniices Shan House 80-86 North Street Keighley BD213AF Bankers: Santander Bank plc Leicester Corporate Carlton Park Building 4, Level 1 Narborough Leicester LE19 OAL 31 Page
KING'S CHURCH LOUGHBOROUGH TRusfEES' ANNUAL REPORT (continued) FOR THE YEAR ENDED 31 MARCH 2025 The Trustees present the report and financial statements of King's Church Loughborough for the year ended 31 March 2025. 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 experien 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 rent Trustees. Annual Report and Statement of accounts, and copies of the CIO Policy and Procedures documents. 41Page
KING S CHURCH LOUGHBOROUGH TRusfEES' ANNUAL REPORT (continued) FOR THE YEAR ENDED 31 MARCH 2025 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 Church Leader{s) (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 activities directed by the Church Leader{s) 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. Internal risks are reviewed and minimised by the Trustees. by the implementation of procedures. During the year a Risk Register was implemented, strengthening the existing systems and measures used to monitor risk. In addition, the frequency of which risks are reviewed was increased from every six months to quarterly as it was believed previous intervals had, on occasions, led to insufficient timely action. 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. 51 Page
KING'S CHURCH LOUGHBOROUGH TRUSfEES' ANNUAL REPORT (continued) FOR THE YEAR ENDED 31 MARCH 2025 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: The advancement of the Christian Faith and the worship of God in Loughborough, Leicestershire and elsewhere. The relief of persons in need, hardship or distress or who are aged or sick. 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, Fomiing communities, Transforming the world. ACHIEVEMENTSAND PERFORMANCE Having successfully navigated the significant challenges and changes that both the CIO and congregation faced last year, this year was one of refreshed and renewed vision and ways of outworking the objectives. The Board of Trustees focus this year was three-fold: 1) Development of faith and worship The group meeting as a 'house-church' met throughout the year, for some of it, following a teaching series called 'Practising the Way,, by John Mark Comer. The series equipped members to deepen not only their faith and 61 Page
KING'S CHURCH LOUGHBOROUGH TRUSFEES, ANNUAL REPORT (continued) FOR THE YEAR ENDED 31 MARCH 2025 followership of Jesus but also relationships as a community- The church met to eat together, encourage one another and offer support through prayer and practical help. 2) Hub Project Renovation and development of the new premises has continued throughout the year and much time has been spent settling in, adapting and making changes where needed to enable us to provide consistent good quality support to members of the community. Thanks to our various sources of funding, we have been able to increase our staffing to cover all the different projects within the HUB to support our volunteer base and help provide consistency in all areas. 11 We Currently employ 10 members of staff and have 18 consistent volunteers who are part of The HUB Project
KING'S CHURCH LOUGHBOROUGH TRusfEES' ANNUAL REPORT (continued) FOR THE YEAR ENDED 31 MARCH 2025 Increased staffing has enabled us to extend our opening hours to accommodate the continuing increase in demand for support. Membership at The HUB Project April 2024 • March 2025 1000 800 600 400 200 April 2024 March 2025 We provided Food Hygiene Training for 10 people, staff and volunteers. This. along with our hard work developing the kitchen area has helped us to achieve our level 5 Food Hygiene Rating from the Environmental Health Department. 10 Have received Food Hygiene Training People 81 Page
KING'S CHURCH LOUGHBOROUGH TRusfEES' ANNUAL REPORT (continued) FOR THE YEAR ENDED 31 MARCH 2025 We continue to work with local asylum seekers by providing them with a safe community space, clothing and other support in conjunction with other agencies across Charnwood. Our Neurodiverse support group continues to provide peer support and outside specialist help where appropriate. The number of members for this group now stands at 233. The group continues to meet twice a month and each meeting averages behveen 4 and 10 people, with There are currently 233 the majority of people reIving support either members in this group online or by telephone. This is mainly due to the nature of the neurodiversity demands of the family making it difficult for parentslcarers to take time away for regular meetings. Approximately 14 people received help with completing forms and applications for Education & Health Care Plans (EHCPS) and Disability Living Allowance (DLA). Approximately 14 people received help with completing forms and applications for Education & Health Care Plans IEHCPS) and Disability Living Allowance (DLAI 91 Page
KING S CHURCH LOUGHBOROUGH TRusfEES' ANNUAL REPORT (continued) FOR THE YEAR ENDED 31 MARCH 2025 We have held a number of community events through the year including: Breakfast with Santa - a low-cost family event for 30 families. 59 adults and 58 children under 12yrs. The families enjoyed food and drinks in our café area. They were able to take part in festive art activities provided by Charnwood Arts" stroll through our Winter Wonderland; watch a Christmas movie and visit Santa in his grotto. 30 families attended - including 59 adultsand 58 children under the age of 12 Breakfast with Santa Community Lunches - freellow-cost nutritional food delivered in the HUB by another charity. School Holiday Clubs these included craft activities. films, flapjack baking and lunches. 101 Page
KING S CHURCH LOUGHBOROUGH TRusfEES' ANNUAL REPORT (continued) FOR THE YEAR ENDED 31 MARCH 2025 We also held our first staff and volunteers Christmas lebratiOn dinner as a thank for everyone's hard work this year, particularly everyone involved helping us to relocate. as well as enabling us to continue to provide an amazing level of serrfice to our community. The HUB Project has also been able to facilitate other groups during the year, providing space and collaborating with other charities to support their provision of Ser¢is, namely: Charnwood Arts run a weekly wellbeing craft group. Open to anyone, the group enjoy lunch together. which we provide, and then take part in craft activities including drawing, painting, crafting and more. This is a popular group attracting up to 24 people a week. Turnip Point is a small local charity who. like us, aim to reduce food waste. They provide community lunches on a donation basis by using food that would otherwise be discarded. Charnwood Food Poverty Group provide opportunity for all the food providers within Charnwood to work together to ensure we cover any gaps in support across the community. Charnwood Christmas Toy Appeal provided us with new books and toys for children and young carers up to 18yrs old. We were able to support 45 families, representing 91 children, many of those with Autism or ADHD. We were able to support 45 families. representing I 91 children, many ol 11 Jla those with Autism or ADHD 111 Page
KING S CHURCH LOUGHBOROUGH TRusfEES' ANNUAL REPORT (continued) FOR THE YEAR ENDED 31 MARCH 2025 We continue to work with Loughborough Town of Sanctuary to provide practical and emotional support for local asylum seekers and people who achieve refugee status and are trying to rebuild their lives in a foreign country. Anchor Youth is a local charity working with young people, providing a free to use drop-in centre for young people aged between 12 and 17 years. They are currently meeting at the HUB Project On a week. with plans to expand their services in the near future to twice a week. 3) Strategic planning for the future of the CIO and its assets During the year a new 3-year strategic plan was agreed on by the Board as the way to proceed. What's in a name? At the end of the financial year the CIO'S name was officially changed, as is permitted within the remit of the Agreed Articles, to 'Restorers58', with the working name being 'Restorers'. From the CIO'S inception a guiding Biblical concept has been that of 'restoration'. Various iterations of the church's vision statement have directly, or indirectly, mentioned the transformational power of Jesus, life and teachings to individuals and the whole of society. As the name 'King's Church, didn't represent the functioning of the CIO any longer, a resolution for a name change was made. In considering a revised name, the Board drew on the foundational concept of why the CIO exists, and 'Restorers' was deemed the most fitting. The number '58, is a chapter in the Biblical book of Isaiah which speaks plainly about the effects of restoration: 121 Page
KING'S CHURCH LOUGHBOROUGH TRusfEES' ANNUAL REPORT (continued) FOR THE YEAR ENDED 31 MARCH 2025 Isaiah 58:9b-12 (NIV): "If you do away with the yoke of oppression, with the pointing finger and malicious talk, 10 and if you spend yourselves on behalf of the hungry and satisfy the needs of the oppressed, then your light will rise in the darkness, and your night will become like the noonday. ' The LORD will guide you always." he will satisfy your needs in a sun-sGorGhed land and will strengthen your frame. You will be like a well-watered garden, like a spring whose waters never fail. 12 Your people will rebuild the ancient ruins and will raise up the age-old foundations," you will be called Repairer of Broken Walls, Restorer of Streets with Dwellings." People, Places and the Planet The newly adopted strategy brings a renewed focus in how the CIO'S objectives will be met. Three spheres of influence in which the CIO seeks to make a difference were defined: People, Places and Planet. People: Particularly young people and members within society of any age who. for various reasons, find themselves marginalised. Places: Three key places where work will be specifically developed. as directed by relationships and a belief in specific guidance from God are: Leicestershire, Cornwall, and Zambia. Planet: We believe in the 'community of creation.: that this consists of and thrives when the natural world and people work in harmony. Therefore, an aspect of the process of restoration we seek to outwork is to facilitate intentional harmonious relationships between people and the planet in the given places we work. 131Page
KING'S CHURCH LOUGHBOROUGH TRusfEES' ANNUAL REPORT (continued) FOR THE YEAR ENDED 31 MARCH 2025 International Mission In late April, Andrew Hulley visited the ZOE Project centre. This is the facility the CIO has been enabling to be built by partnering with the Zambian charity, 'ZOE for African Children,. This is a relationship spanning many decades. The building project in Lufvrfanyama is developing a centre which will house work such as. Regular feeding and clothing programmes for local orphans and the elderly Training for employability: especially in welding, woodwork, knitting and agriculture Sports facilities: football, volleyball and netball Sustainability During the visit conversations about sustainability - both environmental and financial included: Effectiveness of the installed solar panels and seeking to develop how energy is stored Success of the water bore-hole and the provision not only for the site but local villagers Water harvesting- ensuring the rainwater during the rainy season can be harvested and stored for the drier times Ways of generating income". Including facility hire, possibility of holiday accommodationlcamping on site Production of items such as gifts, ornaments. welded doorframes and bricks made with soil from the land {we funded a manual soil presslbrick making machine) Small scale famiing- growing fruit and vegetables. farming goats and chickens Volunteers The house-church and HUB Project would struggle to function without the voluntary participation and the good will of its members. Engagement of volunteers in the ongoing transformation of the HUB Project building and initiatives it homes, creates a sense of belonging for members and contributes towards its continual growth and development. 141Page
KING'S CHURCH LOUGHBOROUGH TRusfEES' ANNUAL REPORT (continued) FOR THE YEAR ENDED 31 MARCH 2025 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. Diversity and Inclusion Within the HUB Project, we have adapted the services to try and meet the needs of a wide variety of different service users through regular conversation with them. We are conscious that there are a range of religions and cultures represented amongst our HUB community and are mindful of certain times of the year such as Eid and Ramadan and ask what we can offer that would be useful during these times such as extra oil for cooking which is usually a limited item. In the community pantry we keep halal meat separate for those that require it as well as stock spices and tinned items such as lentils and chickpeas as these are regularly requested items. We also make sure we have frozen fish and vegetarianlvegan items kept aside so that we can always offer something if we don't have halal meat. We get a range of different cultural foods from Fareshare such as Polish meats, cheeses and snack foods. We find that Hub members now 'spread the word, about the Hub, bringing their friends and neighbours. Existing members are far more effective in reaching into their communities than staff or advertising would be. Amongst our team and community members we have a number of people of various identities such as trans and non-binary. A number of our non-binary volunteers has specifically said that it has felt a welcoming, non-judgemental and safe inclusive space to come and volunteer. A place they feel acpted and valued. 151 Page
KING'S CHURCH LOUGHBOROUGH TRusfEES' ANNUAL REPORT (continued) FOR THE YEAR ENDED 31 MARCH 2025 We have made the space as accessible as possible for wheelchairs, frames and pushchairs ensuring that all access routes and communal areas are clear and spacious. We are conscious of our growing neurodiverse community and make sure to keep to our appointment slots, not overcrowding the pantry and communal areas or making the space too loud, all of which provides a calm and not an overly stimulating environment. Safeguarding The Trustees take their responsibilities for safeguarding very seriously and continue to review the safeguarding prOdureS on a regular basis at Trustee meetings. Safeguarding personnel are adequately trained and are supported by the leadership team. Plans for 2026 and beyond Advancing Faith and the Worship of God Building on the initial stages of meeting as a 'house church, we have started using previously identified rhythms, routines and reSoUrS to help as we gather intentionally to grow in faith and help facilitate the worship of God. We aim to explore and outwork how best to maximise the use of the HUB Project building for public acts of worship. prayer. teaching workshops and shared meals to facilitate accessible ways of communicating the life-changing message of Jesus, life, love and power. Partnerships Working with other groups, charities and church networks for public benefit has, and continues to be, key. Where there is a natural overlap with another organisation's aims, or existing or potential relationships with leaders of groups, we continue to explore how we can partner: either in short or long-term agreements, to further the work we engage with to fulfil our aims. 161Page
KING S CHURCH LOUGHBOROUGH TRusfEES' ANNUAL REPORT (continued) FOR THE YEAR ENDED 31 MARCH 2025 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. Due to the regular review process any reduction in planned income means that budgets are able to be adjusted as necessary in order to safeguard the Charity and its reserves. At 31 March 2025 the Charity had total reserves of £535,377 (2024: £666.907). of which £3,275 {2024-. £3,000) was restricted, with cash at bank and in hand of £527,222 (2024- £725,317). The current cash reserves are within the allowable boundaries identified in the reserves policy. Reserves Policy The policy for holding some cash on reserrfe has been made for the following reasons: 1. To accommodate the monthly fluctuations in income and expenditure e.g. the quarterly gift aid tax claim. 2. To provide a buffer in the event of a significant loss of community membership and associated giving or other funding streams. 3. To provide immediate fvnds to support the implementation of new projects in furtheran of the trust's aims as and when the opportunity arises. Level of Reserves The Trustees feel that in order to fulfil the requirements noted in points 1 to 4 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 202412025 the total Trust expenditure was £336,570 (2024: £738,792). This would 171 Page
KING S CHURCH LOUGHBOROUGH TRusfEES' ANNUAL REPORT (continued) FOR THE YEAR ENDED 31 MARCH 2025 equate to a minimum cash reserve of £28,048 (2024." £61,566) and a maximum cash reserve of £84,143 (2024: £184,698). At the end of the 202312024 financial year the cash reserves included an amount of prepaid income of £1,495 (2024: £8,957) for the first quarter of the next financial year, mainly in relation to the deposits held. Deducting this from the cash reserves total, the remaining cash reserves were approximately 2.9 times {2024: 2.8) above the minimum cash reserve, which the Trustees consider adequate. Annual budgets are prepared in advance of each financial year, such that expected income and expenditure are balanced, thereby providing no net increase or decrease in the amount of cash reserves outside of the policy. The level of reserves will be monitored on a regular basis at the normal Trustees, meetings. Adjustments to budgets will be made in advance of each financial year to ensure that the trust maintains its reserves within the prescribed limits. The Reserves Policy will be reviewed annually in association with the production of annual accounts and changes to the reserves policy will be agreed by Trustees and minuted accordingly. 181 Page
KING S CHURCH LOUGHBOROUGH TRusfEES' ANNUAL REPORT (continued) FOR THE YEAR ENDED 31 MARCH 2025 TRUSTEES, RESPONSIBILITIES IN RELATION TO THE FINANCIAL STATEMENTS Law applicable to charities in England and Wales require the Trustees to prepare financial statements for each financial year which give a true and fair view of the financial activities of the Charity during the year. and of the financial position of the Charity at the end of the year. In preparing financial statements giving a true and fair view, the Trustees should follow best Practi and: Select suitable accounting policies and then apply them consistently; Make sound judgements and estimates that are reasonable and prudent", and State whether applicable accounting standards and Statements of Recommended Practice have been followed, subject to any departures disclosed and explained in the financial statements; Prepare the financial statements on the going conrn basis unless it is appropriate to presume that the Charity will continue in operation. The Trustees are responsible for keeping accounting records which disclose with reasonable accuracy the financial position of the Charity and which enable them to ensure that the financial statements comply with applicable regulations. They are also responsible for safeguarding the assets of the Charity and hen for taking reasonable steps for the prevention and detection of fraud and other irregularities. Andrew Hulley Dated . 2025 Rebecca len 191 Page
KING'S CHURCH LOUGHBOROUGH TRusfEES' ANNUAL REPORT (continued) FOR THE YEAR ENDED 31 MARCH 2025 I report on the accourrts of the Charity for the year ended 31 March 2025 which are set out on pages 21 to 33. 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 Ihe Charities Act 2011 {'The Acr) which give a true and fair view. The Charity's Trustees consider that an audit is not required for the year ended 31 March 2025 under section 144(2) of the Charities Act 2011 and that an independent examination is needed. It is my responsibility to . examine the accounts under section 145 of the 2011 Act: to follow the procedures laid down in the general Directions given by the Charity Commission under seth.on 145(5){b) of the 2011 Act., and to state whether particular matters have come to my attentFOn. Basls of Independent Examiner's Report My examination was carried out in accordance bmth 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 wlh 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 consequendy no opinion is given as to whether the accounts present a "true and fair Vie and the report is limited to those matters set out in the statement below. Independent Examiner's Ststement I have completed my examination. I confimi that no material rnatters have come to my attention in connection with the examination giving me cause to believe that in any material aspect '. the accounting record5 were not kept in respect of the Charity as required by section 130 of the 2011 Act., 2. the accounts do not accord with those records, or 3. the accounts do not comply with the applicable requirements conmIng the form and content of accounts set out in the Chartties (Accounts and Reports) Regulations 2008. other than any requirement that the a¢untS give a 'true and fair vie, which is not a matter considered to be part of an independent examination. I have no GOnmS and have come across no other matters in connection with the examination to which attention should be drawn in this ret in order to enable a proper understanding of the accounts to be reached. Andrew Russell FFA FMAAT APR Accountancy ServIs Limited Shan House, 8046 North Street, Keighley West Yorkshire, BD21 3AF Andrew Russell FFA FMAAT Dated .' 5 December 2025 201 Page
KING'S (HURCH LOUGHBOROU6H srATEMEMf OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2025 Unrestrict8 gnated Rirted Totdl Funds Funts Funds 20 ueJted Restrirted Tthl Fthids FurK Fund 2024 02 024 Income Donatims & gift a 16 275 20583 11,62B 372 12.1 Income from thaTltsble activities Restore 18 HUB, Café & Cupboard iyrc Othw tharitrdble projects 1.2(Al 33,868 3,426 88,838 28.946 61 3,510 92,348 78,946 61 113.868 3.426 Other InLY>me Bank interest 23.417 23,417 20,954 Investments Rental income 220 220 Other irKome Sale of as 1.632 L632 L571 PA)4.148 1,571 4,148 Total IT0M Re5wrres 84.071 80275 164.346 958.050 53,882 LOIL932 Expenditure Charitable actlvltles Main Church Small Worfd Nursery HUB, Cafe & Cupboard OTC charitable rKoJects 17 IW.791 9.261 63216 3.302 I.791 9.261 143.216 3J02 463,763 192.386 28.373 760 463.763 195.896 78.373 760 3.slo 17 Total ÉxpondslW* 256.570 80MA) aw70 685.282 53,510 738.792 Net Intomel(expenditure} before transfers 1172.4991 275 1172.2241 272,768 372 273.140 40ffi 40.694 Net movements in funds li31.5} 275 1131.5301 272.768 372 273,140 Reconciliation of Furrfls Total fvjnds Ixoughl folwd at 31 Marth 2024 663.7 666? 391,139 2.628 393,767 Totsl funts carried forward at 31 March 2025 53L102 3275 53S377 663.9J7 666,7 The statemwrt of finaal aCtrte5 iThJude5 am gains aThJ h)sses Ted in ts year. All irrne aThJ expthjfture derives from tOnu1j a(liw"te5. The note5 on p¥5 21 to 33 fcm part these finarla1 statets Page 21
KING'S CHURCH LOUGHBOROUGH BALANCE SHEEr AS AT 31 MARCH 2025 2025 2024 F5xed Assets 139,987 1,974 Debtors Cash at bank and in hand 107,276 725,317 527,222 52B.131 832,593 Creditors - amounts falfirrtj due within one year 132.741 118.246 NET CURRENT ASSEtS 395390 714,347 Credltors - amounts fallirrtJ due after more than one year 8.720 NE[ ASSErs 535.377 707.E41 THE FUNDS OF THE CHARITY: Restricted Funds Special Offerlngs & other restricted funds 14 3.275 Unrestrlcted Funds Capitsl Fund Designated Fund5 General Fu1 14 14 14 139,987 1,974 1.081 701.$46 392,115 TOTAL CHARITY FUNDS 535.377 707,fA)I The accounts on pages 12 to 21 We approv8J by the Tntstee5 on 5 DeCtr 2025. arKI were sw3ned on Iheir behalf by . Andrew Hulley The on pages 21 to 33 foffli FQrt of these financial slatrnts Page 22
KING'S CHURCH LOUGHBOROUGH srATEMENT OF CASH FLOWS AS AT 31 MARCH 2025 2025 2024 Cash flows from operating activibes Net movement of furKls for the year Depreciation Transfer Fixtures to culnt Assets Transfer Charitable Loans to Fixed Assets InVestt income (Increase)Ide(rease in debtors Increasel(decrease) in creditcrs 1172.2241 273,140 1,240 19411 I136,1) 123.6371 106.367 5.775 122,8581 {89.7241 8L4 Net cash provhded by/(used in) opeTrting adNitie5 1219.1091 243.288 Gish flow from Investlng actlvtties Rental income Bank interest Sale of taThJible fixed assets Purchase of tsrrfJibk frAed a55ets 220 23.417 20.954 325.938 2,914 12.6231 Net cash provided byl{used in) irwesting adMtE5 21.014 351,710 Net Increasel{decrease) In cash and cash equivalents 1198.0951 594,998 Cash aNJ cash equNalents at l April 2024 725.317 130,319 Cash and cash equivalents at 31 Marth 2025 527.222 725,317 Cash and cash equivalents con5isLs of . Cash at bènk and in 527.222 725,317 The notes on pages 21 to 33 fomi part of these financial stateme Page 23
KING'S CHURCH LOUGHBOROUGH NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2025 l. ACCOUtmNG POLICIES Basis of preparation The charity constitutes a public health benefit entity as defined by FRS102. The finanaal statements have been prepared under the histrcqcal cost crfflvenb'on and in accordance with Accounting and Repcmt'ng by Charities . Ststement of Recommended prath aprAicable to charities preparing their accounts in aCCordar with the nanal ReportirvJ Standard appli(2ble in the UK and Republic of Ireland issued in October 2010 (Charities SORP FRS102), the Charities ki 2011 and UK Generally ACpted Accounting Pracu'ce The financial ststements are prepared on a gojng cOnM basis under the historical cost convention, and a presented in steding (see note 13). ksets and liabilities are inibally reccJnised at historical cost or transaction value unless othernise stated in the relevant acci)unting policy nots(s). rixed Assets Fixed assets are ststed at C05t less depreciation. Assets introduced from the prewous Tnjst have bn included at net book value. Depreciation 15 calculated to write down the cost or valuation of tsngible fixed assets to their estimated residual vèlues over their estimated useful lives at the ftAlowing annual rates . Freehold property Improvements to fr&hold proFerty OfffI fixxtures and fitbngs computer equipment 2% of cost 10% rf cost 20% of cost 20% of cost Income recognltion All income is recconised the charty has legal entiuement to th eirorne, Wh there 15 suffiaent certainty of receipt and the amount of income receivable can be measured rellav. Donations are recognised upon recLypt and dassified at that point as either unrestricted or restrict if the donation is for a spectfic purpose. No amounts are Inded in the firk3noal statts for Servi donated by volunteers. Interest on fiJnds hekj on deposit is induded UFK)n notFfication of the interest paid or payable by the Bank. Expenditure recognition abilities are recognised as expenditure as s(Kin as there is a legal or constructive ot4igation committing the charity to that expenditure, rt is probable that settlement wll be required and the amount of the obligation can be measured reliably. Expenditure is accounted for on an acuuaEs basis and has been listed under headings that aggregate all the costs related to that acbvity, induding support atKI governar costs. For more infomabon on this allocation refer to the note "all(Kation of govemance and support costs" below. Where costs cannot be diredy attributed they have been all¢xated to activits'es on a basis CcS15tent with the use of res(Yjr. Charitsble actlvlty expenditure are those costs incurred in attracting voluntsry income, and Indje expenditure directly associated with individual projects and sutv)nt costs relating to those activities. Page 24
KING'S CHURCH LOUGHBOROUGH NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2025 l. Accoup¥fING POLICIES (continued) Allocation of governance and support costs Governan costs are those incurred in cOnntiOn vhth the management of the tharrty and its assets, organisational administration and compliance wth constituti1 aTh1 statutory requirements. Support costs include central funcbons and have ten allccated to actiwty cost CategleS on a basis congstent with their use of re9)ur. The allocation of governan and supp)rt costs is analysed in note 4. Churth Activities Church activities Indude the costs incurr1 in holding Churth meettngs, outreath misston and ots acbvitses of similar nature. Lease and Hire Purchase Contracts Tangible fixed assets acquired urKler finan leases and hire purthase contracts capitalised at the estTmated fair value at the date of InPtIon of eath ase or contrdLt The totsl finance charges are all(ated over the period of lease in such a way to gtve a reasonabty constant charge C the outstanding liaLNlity. Operating Lthises Rentals paid under OFErakn'ng leases are charged again income cm a stralght line basis over the twm of the lease. Taxatlon Tation has not been provided for on the jIt for the year of the (arity on the grounds that Section 505 of the Income and Cort¥)ration Taxes Act 1988 aprAies (exn'on of Charities fm taxation). Restricted Funds Restricted funds are accounted for in accordan wrth the partiatlar temis of trust arising from wress or implied wishes of the donors in so far as these are intended to be binding to the Trustees. Gipital Fund In order that funds available for general pur[0 a rKt oversiated in the accounts, the Capital FuTrJ represents that part of the Churth's funds which are tied up tn fixed assets pur(hased out of unrestricted income, adj'usted for depreclation. This is because fwids coutd only be realised ty the sale of the assets concemed. Genernl Fund Free reserves that are those avaialble for gener71 Wr)seS of the UCh, after deduction of restricted funds, designated funds and the Capital Fund. Page 25
KING'S CHURCH LOUGHBOROUGH NOTES TO THE AccouKrs FOR THE YEAR ENDED 31 MARCH 2025 2. GRANfs RECEIVED 2025 2024 Cupboard on the Corner National Lottery grant 50,000 HUB Proiert National Lottery gnt Restsitted 80,OfX) 50,000 The Cupt%)ard in the Comer project, which aims to to rjutr waste aThJ tacme food poverty across LoUghrough, opened in JU 2021. Page 26
KING'S CHURCH LOUGHBOROUGH NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2025 3. ANALYSIS OF EXPENDrnIRE ON CHARITABLE AcnvrrIES urtaken Govemance & dirertly support Costs Totsl 2025 Total 2024 a) Analysis of expenditure on Charitable activities- unrestrirtedldesignated funts Main Church Restore HUB, Café & Cupboard on Com Other chariiable projects 89,805 9.fKIi 73,320 14 94.274 260 69.896 184,079 9,261 143,216 14 463.763 192,386 28,373 760 172,140 164,430 336,570 685,282 2024 unrestr 432,072 253,210 685,282 Analysis of expenditure on Charltable activities - Rertritted funds Maln thurth Restore HUB. Caft & Cupts)ard on the Comer Other charitsbFe projects 3.510 50,000 80.000 53,510 2024 Un$tr[ct 53,510 53.510 Total resourc¢s expended 252,140 164,430 416.570 738,792 b) Analysis of 5UPPOrt costs Office Premises Totsl Totsl 2024 Main Church Resto HUB, Cafe & Cupboard on the Comer 69.991 323 260 1.152 71,092 260 69.896 92,557 7.448 43,187 25,557 Total support costs 113,178 1,735 25,557 n8 141,248 ICM),005 Total SUPF(lrt costs 2024 57,889 8,785 32.091 1,240 ILKI,005 Support Costs are all alCtal on the bags of usageltime spent. Page 27
KING'S CHURCH LOUGHBOROUGH NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2025 3. ANALYSIS OF EXPENDITURE ON CHARrrABLE ACTJvrrIES (continued) c) Analysis of Goveman 2025 2024 Legal & professional fees Accountancy - Main Church Accountancy fees - Restore Apportionment of supp)rt costs 19,769 2,335 2,269 4,000 4,883 5,650 30,302 8,604 d) Analysis of other resources expended conferen costs 4. NET INCOMEI(EXPENDITURE} Net Income/(end1tUre) for the year is ststed after (tharging . Independent RevleNIAuditorfs remuneration Depreciation Operab'ng leases 625 778 3,153 600 1,240 3,941 5. ANALYSIS OF sfAFF cosrs Employee costs durlng the year Vre Ministerial SUPFKSrt Salaries ial Security Pension Agency stsff 85,260 109,812 1,506 1,609 5,200 215,330 159,345 5,114 3,471 203,387 383,260 average head count of employees during the year was 10 (2024.. 26) re We no employees who recewed emoluments of than £60,000 during the year (2024 £nil) 6. INDEPENDENT REVIEWER'S REMUNERATION The independent revIev$ reMuneTrtl consis] of in(kFendent examination costs £625 (2024 £600) Page 28
KINGS CHURCH LOUGHBOROUGH NOTES TO THE AcCOUPs FOR THE YEAR ENDED 31 MARCH 2025 7. TAN61BLE FIXED ASSEf5 Fixtures & Computer Charitable Fittings Equipment PrnieLts Totsl Cost or valuation . As at l April 2024 Addtti"ons DiskK>sals 16,581 19,804 138.741 1.760 136,118 As at 31 March 2025 17,444 136,118 158.545 Depreclation . A5 at l April 2024 Charge for year Transfer to Current Assets 14.607 1,228 (941) 17,830 1.669 (941) 441 A5 at 31 March 2025 14,894 18,558 Net book value . As at 31 March 2024 1,974 1.974 As at 31 March 2025 2,$50 1.319 136,118 139,987 I material a55ets are held for the Charity's own use. 8. DEBTORS 2025 2024 Debtors Prepayments Other debtors Loan to Nettle Hill (now CalISed) 253 656 778 1.240 105,258 107,276 9. CREDrroRS . Amounts falllng due wlthln one year Defetred Iorne Accruals Bank bans Taxation and la1 seojiity 1.495 (8,165) 145 1,954 137.312 8,957 1,260 101,938 132.741 118,245 CREDThORS . Amounts falllng due after more than one year Bank loans 2-5years 8,720 10. CAprrAL COMMm4ENTS AND POST BALANCE SHE EVENTS There were no capltsl commitments at 31 Marth 2025. Page 29
KING'S CHURCH LOUGHBOROUGH NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2025 11. RELATED PARTY TRANSAcfxoNS None of the Trustee5 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 CEO. 2025 2024 Mr A Hulley 19,621 45,500 No other Trustee or related party received any remuneration in respect of the years ended 31 March 2025 and 31 March 2024. REIMBURSED EXPENSES No Trustee received any reimbursed expense5 in the year to 31 March 2025 or 2024. OTHER RELATED PARTY TRANSACTIONS During the year the Trustees and Related Parties have made donations to the Charity amounting to £Nil (2024 . £Nil). Page 30
KING'S CHURCH LOUGHBOROUGH NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2025 12. OPERATING LEASE COMMtrMENTS At 31 March 2025, the Charty had annual commitrnents under non-cancellable OFErating leases on . 2025 2024 Operating leases which expire . Within one year Two to five years 2,365 3,153 13. GOING CONCERN At the time of approving the finanaal statements, the Trustees have a reasonable expectation that the CIO has adequate resources to continue in operatical existen for the foreseeable future, thus the going conrn basis conrinues to remain appropriate. 14. ANALYSIS ON NEf ASSEfs BETWEEN FUNDS Fixed Current Assets Liabiliti Total Restricted funds Special offerings & other restricted funds 3,275 3,275 Unrestricted Funds Capitsl funds General funds 139,987 139,987 392,115 524,856 (132,741) At 31 March 2025 139,987 528,131 (132,741) 535,377 Page 31
KING'S CHURCH LOUGHBOROUGH NOTES TO THE ACCOUN FOR THE YEAR ENDED 31MARCH 2025 15. REsfRICTED FUNDS MOVEMErir ANALYSIS Balan at Funds Retained or Relea Balance at 03 in Bangalore Orphanage Zambia OpporTINity Individuals I small futKIs 372 189 86 561 86 2,128 500 2,128 500 275 3,275 Kin 's Church Ongoing project SUkV)rt in Bangalore, Zambia and local food verty. Page 32
KING'S CHURCH LOUGHBOROUGH KING'S CHURCH INCOME & EXPENDMIRE FOR THE YEAR ENDED 31 MARCH 2025 16. l Des•gnated Restricted Total Fwds unreth.cted Restricted Funds Totsl Funds 2025 2025 2025 2024 2024 2024 Income rithes OfferiryJ5 &ft Atd Othw Giving Restrtcted Givlng other prtiierts Boutique Workshops 'rsty's Café Breakfast with Santa Support fvnd Rental income Room rents Other Irne 7,530 10.618 7.530 10,618 6.140 4.148 1,340 6,140 4,148 1.340 2.160 2,160 275 275 372 372 1.221 1,972 1,221 1,9n 61 61 233 233 220 220 1,904 1,566 Energy retharge EèsyfdraI%nQiAmazCl) Smi Sundry i)Me Bank interest Profit on Sale of Building 1.554 17 1,554 17 23.417 23.417 20,914 804,148 20,914 804,148 49,003 275 49.278 840.226 372 840,598 Page 33