Registered Charity No 1169734 REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 FOR KING'S EVANGELICAL DIVINITY SCHOOL Broadstairs Kent KING'S EVANGELICAL DIVINifi SCHOOL YEAR ENDED 31 DECEMBER 2023 Page General infomation Fleport of the Tnjstees Examiner's report Receipt and payments account Balance sheet Page 2 KING'S EVANGELICAL DIVINITY SCHOOL GENERAL INFORMATION Twstees Gary Edwards Christopher Smith David Williams Accounts examined Alastair Scott, Accounting and Business Services 4 Orchard Close St Stephens Canterbury CT2 7AL Bankers Barclays Bank plc Queen Square Wolverhampton WV1 1DS Insurers Ansvar Beaufort House Brunswick Road Gloucester GL1 1JZ Page 3 KING'S EVANGELICAL DIVINITY SCHOOL REPORT OF THE TRUSTEES YEAR ENDED 31 DECEMBER 2023 The school was founded in 199) in the Midlands by a local church to provide evening and short courses in biblical studies and theology to Evangelical Christians. The first short courses were launched in October 1991. The CLJniculum focused primarily upon Bible studies with some additional emphasis on practical training, for example homiletics. Courses were unaccredited and most of the tutors were local church pastors. In 2002 the school began to collaborate with the University ot Wales to offer fonnally acC￿dIted undergraduate studies. By 2009 the school was also offering postgraduate studies through the university. In 2008 it became independent of its parent local church and was renamed King's Evangelical Divinity School, moving out of the Midlands region to east Kent. In 2010 when the collaborative arrangement partnership with Wales ended King's became a partner college ol the Theology and Religious Studies department at the University of Chester. The school currently offers Bachelor ol Theology, Graduate Diploma and Master of Arts programmes validated by the university. King's also offers its own intemally validated programmes and short courses. The school specialises in distance leaming and all its programmes are delivered online. In addition to these online programmes King's also holds conferences and teaching evenls, together with Study trips and occasional involvement in short-tem missions. The school also publlshes some theological materials. Faculty at the school come froffl across the United Kingdom and overseas, while about 60% of students are based in the UK and a further 40% or so study from overseas. Currently, overseas students primarily reside in the European Union, Australia. Canada, Hong Kong, New Zealand and the United States. Page 4 KING'S EVANGELICAL DIVINITY SCHOOL EXAMINER'S REPORT YEAR ENDED 31 DECEMBER 20YJ I report on the accounts for the year ended 31 December gO&r.. which are set out on pages 6 and Respective Responsibilities of Trustees and Examiner The trustees are responsible for the preparation of the account. The trustees consider that an audit is not required for this year and that an independent examination is needed. Having satisfied myself that the charity is not subjecl to an audit and is eligible for independent examination, it is my responsibility to.. Examine the accounts State whether particular matters have come to my attention. Basis of independent examiner's statement 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 ttuslees conceming any 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 OLrt in the statement below. Independent examinerfs statement In connection wtth my examination. no matter had come to my attention: 1. Which gives me reasonable cause to believe that, in any material respect, the requirements- To keep accounting records To prepare accounts which accord with the accounting records Have not been met" or 2. To which, in my opinion, attention should be dTrwn in order to enable a proper understanding of the accounts to be reached. Alastair Scott Accountants 4 Orchard Close St Stephens Canterbury CT2 7AL Signed /41. -ii..O...:.l Date..................... Page S KING'S EVANGELICAL DIVINITY SCHOOL RECEIPTS AND PAYMENT ACCOI'IT YEAR ENDED 31 DECEMBER 202 Dec 2023 Operating Income Turtion lees 44373 69386 Gifts and donatic￿S 387 1107 Alurrni Contribthions 86 260 Bank deposit interest 38 29 Publishing and sales 16 15 Refunds 1848 46748 70797 0￿ratIng Expenses Academ￿ expenses and servic&s 9622 26192 Tutor expenses 2017 4979 Administrator and secretarial 130 Payroll and profession￿ fees 33￿)9 51165 IT costs 3143 4124 Insurances 779 Office and other operational costs 754 1733 Finance and intwesl charges 1813 2434 Sundry expen 73 51519 91600 SurpluslDaficit for the year Page 6 KING'S EVANGELICAL DIVINITY SCHOOL BALANCE SHEET AS AT 31 DECEMBER 2(123 ASSErs Dec 2023 202V: Current assets Cash at banks 17221 Cash at hand 500 Total cuThent a&8ets 11721 LIABIUTIES Currant liabilities Card account 80 Total CLwrent liabilrtEs TOTAL ASSEfs AND LIABILtriES Signed as appmved Page 7