Registered charity no: 1172865 ## **KING STREET CHAPEL CIO** **REPORT AND FINANCIAL STATEMENTS** **FOR THE YEAR 1 APRIL 2021 TO 31 MARCH 2022** ## **KING STREET CHAPEL CIO** ## **FOR THE YEAR 1 APRIL 2021 TO 31 MARCH 2022** ## **CONTENTS** ||**Page**| |---|---| |Legal and Administrative Information|1| |Trustees’ Annual Report|2-4| |Independent Examiner’s Report|7| |Statement of Assets and Liabilities|8| |Receipts and Payments Account|9| |Notes to the Accounts|10| 1 ## **KING STREET CHAPEL CIO** ## **LEGAL AND ADMINISTRATIVE INFORMATION** ## **REGISTERED CHARITY NUMBER** : 1172865 |**TRUSTEES**:|Kenneth Charles Churchill Resigned 31.12.2021| |---|---| ||Paul Grant| ||Leo Matthew Hamidullah (Chairman)| ||Richard Clive Hughes| ||Ian Edward Mobbs| ||Andrew John Webber| |**SECRETARY TO TRUSTEES**:|Julie Castleden| |**TREASURER**:|Andrew Webber| |**ADDRESS**:|King Street Chapel| ||King Street| ||Tiverton| ||Devon| ||EX16 5JE| |**BANKERS**:|Barclays Bank PLC| ||24 Fore Street| ||Tiverton| ||EX16 6LE| |**INDEPENDENT EXAMINER**:|Oakleys| ||Pitt Farm| ||Uffculme| ||Cullompton| ||Devon EX15 3BY| |**SOLICITOR**:|Gilbert Stephens Solicitors| ||15-17 Southernhay East| ||Exeter| ||EX1 1QE| 2 ## **KING STREET CHAPEL CIO** ## **TRUSTEES’ ANNUAL REPORT FOR THE FINANCIAL YEAR 1 APRIL 2021 TO 31 MARCH 2022** The trustees of the Charitable Incorporated Organisation (CIO) present their report, together with the financial statements of the charity, for the financial year ended 31 March 2022. The financial statements have been prepared in accordance with the accounting policies set out on page 8 and comply with the CIO’s constitution and applicable law and follow best accounting practice as laid out in the SORP FRS 102. ## **Structure, Governance and Management** King Street Chapel CIO took over the operations of King Street Chapel Trust (registered charity no. 1136619) on 1 January 2018. The replacement CIO was registered (Charity Number 1172865) by the Charity Commission and included in the Register of Charities on 3 May 2017. The **object** of the CIO is ‘to advance the Christian faith for the public benefit in accordance with the statement of doctrines and practices in the Schedule hereto in Devon and in such other parts of the United Kingdom or the world as the charity trustees may from time to time think fit’, the statement of doctrines and practices being that of the predecessor trust as agreed by the first trustees of the King Street Chapel Trust in February 1910. King Street Chapel CIO is responsible for the operations and activities of the Christian congregation known as King Street Chapel, centred on its buildings in King Street, Tiverton, which include extensive meeting rooms and the adjacent residential property at 20 King Street, which is retained to house those ministering in the church, but which is temporarily being let on the rental market as it is not at present needed by church staff. So far as the life, work, activities, and operations of the congregation are concerned, the CIO exercises control and management through a Leadership Team which is a committee of the CIO and includes one trustee. The Team is supported by a Teaching, Worship and Evangelism Group (TWEG) which is responsible for planning and execution of the activities implied in the designation. The same trustee who is a member of the Leadership Team is also a member of TWEG. On buildings and finance matters, the trustees are advised by a Buildings and Finance Group which also includes trustees and is a committee of the trustees. The minutes of the committees and the TWEG are copied to the trustees, with other papers as necessary. There are other groups made up of church members which are responsible for undertaking other aspects of church life, such as Junior Church, children’s work (currently, First Friends and Ignite), youth work, and work among seniors. These too report to the Leadership Team and trustees as necessary. ## **Trustees** The trustees who served during the financial year and up to the date at which this report was approved are as follows: Kenneth Charles Churchill (Resigned 31.12.2021) Paul Grant Leo Matthew Hamidullah (Chairman) Richard Clive Hughes Ian Edward Mobbs Andrew John Webber The trustees meet regularly—approximately four times a year. 3 ## **Selection and induction of trustees** With the exception of Clive Hughes (Church Manager of Belmont Church, Exeter), the trustees are members of the congregation and have close knowledge of it and its activities. The practice is that the majority of trustees should be church members, provided that they have the necessary experience, skills, and knowledge for the responsibilities. On appointment, they are supplied with key documents, including the CIO constitution, the latest report and financial statements, and the trustees’ policy on safeguarding, and are directed to the Charity Commission website for guidance to trustees (including CC3, The Essential Trustee, and the Commission’s guidance on public benefit of charities, including religious charities). ## **Leadership Team** The Leadership Team for the year comprised Christopher Castleden, Abigail Mobbs, Ian Mobbs, and Rachel Webber, and meets monthly, with the church administrator in attendance. Christopher Castleden subsequently resigned on 01 August 2022. Its focus is on the spiritual life of the fellowship, including pastoral care. The Teaching, Worship and Evangelism Group meets about bimonthly and comprises of Tom Baker, Ian Mobbs and Neil Summerton. ## **Buildings and Finance Group** The Buildings and Finance Group comprises Andrew Webber (chair & trustee), Matt Hamidullah (trustee), Paul Grant (trustee), and Joy Forward, and meets monthly. ## **Public benefit, activities which give public benefit, and performance** The CIO gives public benefit by advancing the Christian faith in accordance with its statement of doctrines and practices, principally through a range of weekly meetings for worship, communion and teaching of Scripture, through pastoral care of those who participate in the life of the church and of other contacts, and through a range of weekly activities to propagate the Christian gospel and do good to others as required by that gospel, particularly among the community immediately around the congregation’s buildings in West Exe, Tiverton. All activities are advertised, particularly in the immediate neighbourhood of the Chapel building, and are open to attendance by, and involvement of, all who wish to do so. The church's regular programme includes meetings for seniors, an activity for under 4s and their parents or carers, and a children’s club for those aged 5 - 11 (contacts with the parents and families of children participating in children's activities often also lead to pastoral care for people in the community), and four weekly Bible study groups (three meeting in person at the Chapel and one online) which anyone who wishes to learn more of the Christian faith is encouraged to participate in. There is a monthly, free Big Breakfast event on Sunday morning which anyone can take advantage of and which is at present being attended by up to 20 people who are not church members. These regular activities are supplemented from time to time by gospel outreach programmes. Through the activities described, there is contact with hundreds of people in the community in the course of each year. The church does not at present pay any staff, apart from a part-time self-employed administrator, so the activities described are wholly led and provided by a considerable number of volunteers from the church's regular congregation. In taking responsibility for and managing these activities, the trustees have had regard to the Charity Commission's guidance on public benefit, particularly that relevant to public benefit through the advancement of religion and consider that these activities are for the public benefit. Because the activities of the church are at present undertaken by volunteers and the turnover of the church is low, the charitable activities and the associated public benefit are highly costeffective and efficient and represent charitable contributions of time and effort by a wide team of people from the church. The volunteers concerned are both those retired from remunerative activity and employed or self-employed people who give leisure time voluntarily 4 in order to enable the activities to take place. It is not possible to put a monetary value on this input, but, if it were, the sum would be substantial. ## **Protecting people safeguarding, health and safety, etc** Because of the nature of its activities, and their open-ness to public involvement, the trustees give careful thought to protecting from harm all who are associated with the activities of the congregation, to safeguarding of children and adults at risk, and other aspects of safety. The safeguarding policy is regularly reviewed, and DBS clearances are initiated or reviewed on a regular cycle as necessary. A health and safety policy is in place, and a health and safety officer has been appointed. Fire safety arrangements, equipment and notices are regularly reviewed as required by law and best practice. ## **Effect of COVID-19 pandemic** Under COVID-19 regulations from 23 March 2020 to19 July 2021 the use of places of worship was subject to stringent government guidance, adherence to which prevented them from being used freely for worship, communion, teaching fellowship, and children’s activities. The result was the discontinuance between 23 March 2020 and mid-July 2021 not only of worship activities (including the monthly Big Breakfast), but also community activities such as the congregation’s First Friends Group, children’s clubs, and weekly activities for senior ladies, including a monthly lunch. Big Breakfast, First Friends and children’s clubs resumed only in September 2021. In the autumn and winter of 2021-22, in-person meetings in the Chapel and elsewhere were attended with caution by a significant number of congregation members, particularly by those who are elderly and who were concerned about health risks to them. It has only been in the spring and summer of 2022, that most associated with the congregation have felt confident enough to meet at the main Sunday meetings of the congregation. Even now the arrangements for taking bread and wine at weekly communion continue to be essentially those followed in the later stages of lockdown. The church is encouraged, however, by the strength of interest which has been shown in Big Breakfast by those in the community with whom the congregation is in touch. The effect of pandemic measures on income was limited, partly because a comparatively minor proportion of income is acquired through offerings at meetings. The trustees note that income from the congregation and from rental of a temporarily let building is at present scarcely adequate to meet outgoings. It can be noted that income in 2021-22 was £28,692, compared with £37,960 in the pre-pandemic year of 2019-20. ## **Financial Review** Total income in the year to 31 March 2022 was £28,692 (£28,644 in 2020-21). Expenditure amounted to £32,685 (£31,021 in 2020-21).. Repairs and renewals were some £5,000 lower in 2021-22 compared with the preceding year (when the opportunity was being taken t refurbish the building during lockdown).. There was a deficit in the year of £3,993 (£2,377 in 2020-21), and cash balances carried forward totalled £24,144 (compared with £28,137 in 2020-21). ## **Reserves Policy** As the trustees at present pay only for administration on a very part-time basis on hourly payments, they are satisfied that the cash in hand on 31 March 2022 (£24,144) suffices, and is not more than sufficient, to meet expenditure requirements in the course of the present financial year, requirements principally arising from the need to maintain the Trust's two buildings in a good state of repair and decoration, and to meet the costs of undertaking the church's charitable activities. Should staff or contractors be appointed in the near future to assist with church activities, it will be necessary for the trustees to look to the congregation to cover staff costs and provide additional reserves (as necessary) to meet contractual commitments to employees and/or contractors. 5 ## **Responsibilities of Trustees for the Financial Statements** The trustees are responsible for preparing the report and the financial statements in accordance with applicable law and United Kingdom Generally Accepted Accounting Practice. Charity law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of its financial activities for that period. In preparing those financial statements, the trustees are required to: - select suitable accounting policies and apply them consistently; - make judgements and estimates that are reasonable and prudent; - prepare the financial statements on the going concern basis unless it is inappropriate to presume that the activities of the charity will continue. The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and which enable them to ensure that the financial statements comply with the Charities Act 2011. Trustees are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. ## **7. Approval** The report of the trustees was approved by the trustees on 10[th] January 2023 and signed on its behalf by Andrew Webber. 6 Klnz Street Chgp¢l Ind¢￿￿ent examlD¢r'• r¢wt to th¢ trllst￿ of Kin¥ Stre•tCTh•pel We report ort the acc(l￿ts of King Stred Ciwel (Chftrity NwDtw.IifA865) for th¢ year ended 31st March 2022. R¢swtlve rrywslbllStle8 oftr¥iteea #nd txtLmlner The eharitys trus*es respowibl¢ for th¢ Pf¢PArntion of the The ¢t*rity$ trustees conthdcr that audtt Is Rot rryuir¢d for this year under sealon 144 of th¢ amrities Ad 2011 (tk 2011 &¢t)9￿d th&t att Indepetthnt ¢xami￿10￿ is £eed¢ It ts our rosponslljility b): - ex*￿ille the xcounts under se¢tion 145 ofthe 2011 A¢ - to follow the procedm laid dovm in tl* Dir￿￿0￿8 ty thc awity Commi￿100 Qr sedion 14¥5Xb)ofthe 2011 A¢¢ and B*sts of Independen¢ ¢xgminer'i TepDrt Ow examingltoo earried out accwdwKe with th¢ Dire¢tsons giY¢n by the Charity Commission. Ao ¢x&mination inclu&s a review of ts •xountiog rt¢fjrds kw by thc clwity and a Compari￿Tr of th¢ aei%)unts PT¢s¢nt¢d with those re¢ord& It also InCI￿¢S cotisideratiof5 of any tsTh￿l itenL8 or diselosurcs in the account4 and s¢¢king ¢xpt4ti¢)ths from you ￿ truste&% tK¢rning swh mattert. the proLzdures undertaken do not provide a]1 th¢ evidence would be reqiured an audit atKi consequeDtly no opinion is 8iven as ￿ whetherth¢ a¢¢outtts pr¢seTrt a Irut al￿ fair view 8nd th¢ rewtis limited tothose tMtt¢r3 *t in the b¢low. Indeptndettt ex*Tttiner's stst¢m¢nt In ￿nneCtion wtth i)ur examIDatÉo￿ no materi81 to my 8ttattloft whleh giv￿ us - th¢ a¢¢4)untiTr8 records wtte ttot kept in ￿0)rdance with Section 130ofth¢ a￿ltIeS A¢. or - th¢ a¢c￿￿ts dÉd not ae¢ord lh¢ artouttting re¢oTds' or - the a¢w￿t5 did ttot cottjply with th¢ applicable wuirem¢nts Ci)rK¢rnittg the form I￿1 c4mta* of xmts set out in the Chftrities (AeKouThts and RerMJrtsl Re8yJattons 2[￿ Oth￿ than Any requtremetlt that the aceounts give a Irue alld fairf vÈ¢w which is not a o)&tttt wnstd¢red *s pfjrt of We ha￿ come ll￿05$ no other malt¢rs IM connection with the ¢xamiThgtson to which fttt¢ntion sILould be dra*n iti this report in order to enable a proper ￿d¢￿sti￿g of the aecounts w be Th4or J Pht Fwm U￿￿1M¢ Cyllompton BXIS 3BY 8 S¢ptonbet2022 King Street Ch•pel ststemtnt ofFln8nclal Aetlvldes for the ytxr ended 31 March 2022 Note5 2022 Unre5tr1cted Fund$ 2022 Re5tr1¢ted Fund5 2022 Total Fllnd5 2021 PrloT Year Funds INCOMING RESOURCES Incomlmg resourtei froTn generated funds DottatiOTJS and legacies Oth¢r income Total Intomlthg resour¢es 22.149 6,543 22.149 6,543 21,699 6,945 RESOURCFS EXPENDED Charitable *tdTr4tlts Operating costs Governance costs TotAI reBourtes expended 28.148 4,537 28,148 4,537 27,106 3,915 NET INCOME (3,9931 (2,3771 RECONCILIATION OF FUNDS Total fundJ brought forward 28,137 28,137 30.514 TOTAL FUNDS CARRIED FORWARD 24,144 King Street Cb*pel BalAn¢e Shett as at 31 M*r¢h 2022 Note8 2022 2021 Current assets C8sh at bfjnk and in hand 24.564 28,137 Credlior$: arnounts falllthg due thln one ytar {420} N¢t Current Assets 24,144 28,137 NET ASSETS 24.144 28.137 Unr£%tricted funds Restric￿ fvDds 24,144 27,972 165 TOTAL FUNDS 28.137 The fmanckai statetnenis were approved by tb¢ Board of Trnste¢s And were signed on their behalf by.. Mr AJ Webber TnJste¢ Approvd by the board ott 8 Sepl¢mb¢r 2022 King Street Chapel Notes to the Flnanclal StAtement8 for the year ended 31 March 2022 l Bfisls of prep*ratloD Basls of #ccoundng The fmancial stateTnents have be¢n prepared under the bistorical eost ¢ottvention. 8md in sccordance with the Financial Reporting Standard for Smaller Enliiies {SORP 2015 FRS 102) and inrlud¢ the resulis of the cbotitys operations all of whi¢h are continuing. Golng concern Th¢ accounts havc been pr¢p8red on a going concem basi5. Change of a¢¢ouDting polity The a¢¢ounts preseni a true and fairview and the aecoutttirtg policics adopted are ¥ outlin￿. Ch•D¥es to *ttountlng estlm¥te5 No chan8¢S to accoullting estimaw have O¢CUTred in the reporting period. MiteriY41 prlor y¢*r errors No material priory¢8r etTof5 have been ideniified in the reporting period. Z ACCo￿￿tIng poll¢le$ 2.1 INCOME Re¢ognition of Intom¢ Income i$ in¢luded in the StAtem¢rtt of Financial Activities (SOFA) wh¢n.' - the th3rity becomes legally eniiiled io the illCOtn¢, and - the amount eart b¢ quatstLfLed with Iworjable ac¢ura¢y. Grants Y4nd do￿AtIOnS Grants and donations att only included in th¢ SOFA when the general ineorne r¢cognition uiteria are met. Tgi reel#lm$ on donadons •nd glfts Gift Aid r¢£civable 15 included it3 income when there is a valid declaration from the donor. Aay Gift Aid amount recovered on a donation is considered to be part of that 8Jft and i$ treated as all addition ￿ the same fund gs the inirial donAiion unless the donoror th¢ terms of the Èppeal have spccifjed ththe*wise. Klng Street Chapel Notes to the Flllancl#l Statements for the ye*r ended 31 March 1022 2.2 EXPENDITURE AND LIABTLITIES Llablllty recognltlon Liabilities are recostlised wher¢ it is more likely than not that ther i5 a legal or tonstwctive obligation cotnmttting the cbarity to pay out r¢souTce5 and the amount of th¢ obligation can bc measured with reasonable certainty. Governance and $upport Costs Support ¢osTs have been allocated b¢nve¢n governaDce artd other support costs. Governanc¢ ¢osts COTnprise all wsts invol￿fig publi¢ accountability of the charity and its romplianc¢ with regulAtion and good pra¢ti¢¢. T*xatIo The chariry is ¢xempt from tax on its charitabl¢ activtties. Fund Aeeountlng UJJrestri¢ted fimd5 call be used in a¢¢ordan¢¢ with hte ch￿itable objcciives at the di5cr¢tion of the trust¢e5. Restricted fimds ¢an only be used for particular restricted PUTPOS¢S Within the objects of the ¢iwiry. Restriciiotss 0TiSC when specified by the dottoror when fvnds are raised for partitular re5tiict¢d puTr05¢S. 2 DONATIONS AND LEGACIES 2022 2021 Gift aid Donations 3.460 18.689 22,149 17,755 21.699 3 OTHER INCOME 2022 2021 Reni reeeived Use ¢f buildiDg5 Deposit account interest 6.542 6,898 45 6.543 6.945 4 GOVERNANCE COSTS 2022 2021 Accountancy fees 420 420 5 Credltor8: AMOiINTS FALLING DUE WITIIIN ONE YEAR 2022 2021 A¢¢rnals OthEr creditors 420 420 King Street Chapel r4otes to the FlnanclAI Stktements for the year ended 31 March 2022 6 Movement In Funds At 1.4.21 Net At 3lJ.12 Unre5trfcted G¢n¢i?I fund 27.972 {3,8281 24,144 Re6trl¢ted Resttid¢d funds TOTAL FUNDS 165 28,137 165 24.144 Net movwneni in thttds. included in the above ar¢ as follows Incomlng ruourtts Resource5 expended Movement In funds Unrestrleted funds General fund 28.692 (32,5201 13,8281 Restrleted funds Restrt¢t¢d funds {1651 (1651 Total Futtds 28.692 32.685 3,993 King Street Chapel Schedule to the Proflt and ￿sS Ae¢ouDt for the year ended 31 March 2022 2022 2D21 INCOMING RESOURCES Voluntary IRtOD Gift aid Gifts Donations 3.460 18,689 17,655 100 Other Intome R¢nt5 r¢ceived Use of buildings Depogit 2ccoiint interest 6,542 6,898 45 Totsj in¢oTning resources RESOURCES EXPEf4DED Charftable I¢d￿deS Ratss And water Insurance Light and heat Telephone Postage and 5tationcry Sundrie5 Computer expenses Cleaning Music licellce Subscriptions Repairs attd ren¢wals 20 King Street Expenses Ass¢ts Purchased Training cosis Str¢aming costs Office expenses Missionary and Charitable donations Gifts to speak¢rs CHAT FiTSt friends Ladie5 Meeting Luncheon Club JuhioT Church 574 1,295 1.947 1,018 504 626 764 2,300 269 958 4,852 1,069 522 1,242 2,182 796 412 7L8 215 336 373 417 9,838 2.766 130 540 1,363 708 4,250 200 4,499 129 3.400 900 2.639 70 106 250 33 Service Fees Self enwloyed admini5trdtor Accountsnry f¢¢s 4,117 420 4,537 3,915 Ttsral resources expended Net {defleltyln¢ome (3,993) (2J77) Thispage doeJ notformpart ofthe &iafyioryfinancial s¢oiemeAts