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2023-03-31-accounts

KINGDOM LIFE ASSEMBLIES OF GOD CHURCH CHARITABLE COMPANY LIMITED BY GUARANTEE

REGISTERED CHARITY NUMBER: 1173599 REGISTERED COMPANY NUMBER: 11903791

REPORT OF THE TRUSTEES AND STATEMENT OF FINANCIAL ACTIVITIES FOR THE PERIOD ENDED 31 MARCH 2023 FOR KINGDOM LIFE ASSEMBLIES OF GOD CHURCH

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KINGDOM LIFE ASSEMBLIES OF GOD CHURCH CHARITABLE COMPANY LIMITED BY GUARANTEE

TABLE OF CONTENTS

LEGAL AND ADMINISTRATIVE INFORMATION.....................................................................3 ANNUAL REPORT OF THE TRUSTEES FOR THE 12 MONTH PERIOD ENDED 31 MARCH 2023..................................................................................................................................4 STATEMENT OF TRUSTEES RESPONSIBILITIES..................................................................8 INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF KINGDOM LIFE ASSEMBLIES OF GOD..................................................................................................................9 STATEMENT OF FINANCIAL ACTIVITIES FOR THE 12 MONTH PERIOD ENDED 31 MARCH 2023................................................................................................................................10 STATEMENT OF FINANCIAL POSITION AS AT 31 MARCH 2023..................................11 NOTES TO THE FINANCIAL STATEMENTS..........................................................................12

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KINGDOM LIFE ASSEMBLIES OF GOD CHURCH CHARITABLE COMPANY LIMITED BY GUARANTEE

LEGAL AND ADMINISTRATIVE INFORMATION

REGISTERED CHARITY NUMBER 1173599

REGISTERED COMPANY NUMBER 11903791

REGISTERED OFFICE: 15 Old Brewery Close Aylesbury, Buckingham HP21 7SH TRUSTEES Mr James Afrifa Frimpong – Chairman Mrs Edna Agha-Kuofie Miss Nana Yaa Frema

ACCOUNTANTS The Strategy Corporation Limited Chartered Certified Accountants 50 Badgers Way Buckingham MK18 7HL

BANKERS HSBC Bank 19 Midsummer Place P O Box 1888 Milton Keynes Buckinghamshire MK9 3GB

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KINGDOM LIFE ASSEMBLIES OF GOD CHURCH CHARITABLE COMPANY LIMITED BY GUARANTEE ANNUAL REPORT OF THE TRUSTEES FOR THE 12 MONTH PERIOD ENDED 31 MARCH 2023

KINGDOM LIFE ASSEMBLIES OF GOD (KLASSAOG) is church in fellowship with Assemblies of God. Incorporated in Great Britain. Registered Charity No: 1173599. The Trustees of the charity present their report with the financial statements of the charity for the 12-month period from 1[st] April 2022 to 31[st] March 2023. The financial statements comply with the Charities Act 2011 and have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (Charities SORP FRS 102, update Bulletin 1).

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity is controlled by its governing document established in the Constitution of the Church.

Recruitment and appointment of new Trustees

The Trustees who held office during the financial year and at the date of this report are set out on page 3. The Trustees are elected by the church in accordance with the rules set out in the Constitution. The method of appointment of the Church Council is also set out in the Church Constitution. No new Trustee was appointed to replace another for the period under review.

Induction and training of new Trustees

Trustees must demonstrate strong ethical values towards the church. All new Trustees are given, in the view of the Board of Trustees, sufficient training and have enough knowledge of their specific field(s) to understand the nature of the charity and fully comply with the charity's aims and objectives. They are required to participate in an orientation day to ensure they are aware of both their legal and professional responsibilities under charity and company law. Trustees are updated on development of church activities on a regular basis.

Organisational structure

A three-member Board of Trustees is responsible for the strategic management and direction of the charity. The Board of Trustees and Board members have the responsibility of cooperating with the Reverend Minister in promoting the whole mission of the Church – pastoral, evangelistic, social and ecumenical. The Trustees give their time on a voluntary and unpaid basis. The Church Board has wide responsibilities. It has a number of committees; each dealing with a particular aspect of church life. These committees which include music/worship, events, outreach, welfare, and finance are accountable to and report back to the Board of Trustees and Church Board on regular basis.

Risk management

The Trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error. The Trustees and the spiritual leadership are aware of the major risks facing the charity and have policies in place to manage them. They review these policies and ensure they are well documented and up to date.

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KINGDOM LIFE ASSEMBLIES OF GOD CHURCH CHARITABLE COMPANY LIMITED BY GUARANTEE

This is done through discussions at trustee meetings to ensure comprehensive planning is in place to mitigate any identified risk. The trustees have a risk management strategy which comprises:

OBJECTIVES AND ACTIVITIES

Objectives and Purposes

In accordance with its governing document, Kingdom Life Assemblies of God Church is committed to enabling as many people as possible to worship at our church and to become part of our community. The trustees and the church board maintain an overview of worship throughout the parish and constantly seek ideas on how our services can involve the diverse population and groups that live within our church and the community. Our services and worship put faith into practice through prayer and bible studies, music and sacrament.

When planning our activities for the year, the Board of Trustees has considered the Charity Commission’s guidance on public benefit and, in particular, the specific guidance on charities for the advancement of religion. In particular, we try to enable ordinary people to live out their faith as part of our church community through:

The Trustees are aware of the Charity Commission's guidance on public benefit in "The Advancement of Religion for the Public Benefit" and have regard to that guidance in their administration of the charity. The Trustees believes that this report provides evidence of the public benefit of the charity's work for the 12-month period to 31[st] March 2023.

ACTIVITIES AND PERFORMANCE

Charitable activities

Worship and Prayer

Kingdom Life Assemblies of God Church continue to offer a range of services during the week and over the course of the year. The church and the community find these services beneficial which promote their spiritual growth.

Education, Missions and Evangelism

Kingdom Life Assemblies of God Church continue to educate and help those in need and members are encouraged to take learning opportunities to facilitate their growth.

Outreach – Missions and Evangelism

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KINGDOM LIFE ASSEMBLIES OF GOD CHURCH CHARITABLE COMPANY LIMITED BY GUARANTEE

Kingdom Life Assemblies of God Church have partnered with Churches in England and Africa to propagate the gospel. Many people are reached for God through the use of media and personal evangelism in the UK.

Pastoral Care

Pastoral visits were made to as many people as were willing to access this service. Counselling demand was again high this year as more people reached forward for effective counselling.

Volunteers

In this financial year, KLASSAOG has continued to rely on volunteers for its work in meeting the needs of its members and the general public. Without this support, KLASSAOG would have had to incur significant staff costs. The workers in the charity include administration staff, musicians, Sunday school teachers, the deacons, ushers and technical team who all volunteer their services without any pay. It is difficult to quantify this in our financial statements however we are aware this will be a significant cost to the charity if all volunteers were paid for their services. The Trustees of the charity would like to express their on-going appreciations to all valued members of the various departments in the church for their valuable contribution in keeping the church operational.

Future Plans

The medium/long term aims of the charity are outlined below.

The Trustees are keen to expand the charity’s activities to other parts of the UK and have a medium to long term goal of planting a new church in Hinckley, UK. This is predicated on finding a suitable facility that can be used as a church building.

Secondly, they are also planning to acquire a permanent place of worship for the church and are working towards ensuring that this goal is achieved within the next five years. This will enable them provide additional charitable services to the community and further meet the objects of the charity.

Internal and external factors

The Trustees have made a full assessment of the internal and external factors that may affect these financial statements and do not consider that there are any additional material items which need to be reported to arrive at a true and fair understanding of them.

FINANCIAL REVIEW

Financial Performance

Total income generated during the year was £96,406 (2022: £57,982) a year-on-year increase of 66% mainly driven by an increase in income from offerings and gift aid receipts.

Total expenditure incurred on charitable activities was £96,512 (2022: £59,243) which represents 101% (2022: 102%) of income generated. This expenditure comprises costs incurred on ministry costs as well as support costs including depreciation, insurance, vehicle, and other operational expenses.

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KINGDOM LIFE ASSEMBLIES OF GOD CHURCH CHARITABLE COMPANY LIMITED BY GUARANTEE

Costs incurred on charitable activities directly undertaken were £69,731 (2022: £48,907) and represents 72% of total expenditure (2022: 83%) an increase of £20,824 compared to last year. Support costs incurred were £26,781 (2022: £10,336)

Total net movement in funds for the year was therefore a deficit of £106 (2022: deficit £1,261) related to unrestricted activities.

Total funds carried forward on 31[st] March 2023 is £3,837 (2022: £3,943).

Restricted Fund

There were no restricted funds during the period of review (2022: nil)

Reserves policy

It is KLASSAOG’s policy that unrestricted funds not presently committed or invested should be maintained at the level equivalent to two months’ expenditure for KLASSAOG to continue pursuing its activities should there be a period of reduced income. The Trustees acknowledge that unrestricted funds carried forward which is 0.5 months is below this policy and are working hard to increase the charity’s income to meet all expenses and subsequently build up a reserve balance that meets this policy.

Investment policy and objectives

Under the Memorandum and Articles of Association the Trustees have the powers to invest in any way the Trustees deem fit and to direct the sale or transposition of any such investments and to expend the proceeds of any such sale in furtherance of the objects of the Charity. For the period under review, the Trustees did not undertake any such investments, but funds which are not immediately needed may be invested in short term deposits.

Overall, the charity has experienced another blessed and fulfilling year and expects to exceed its performance next year.

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KINGDOM LIFE ASSEMBLIES OF GOD CHURCH CHARITABLE COMPANY LIMITED BY GUARANTEE

STATEMENT OF TRUSTEES RESPONSIBILITIES

The Trustees including responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Generally Accepted Accounting Practice. Company 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 charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period.

In preparing those financial statements, the Trustees are required to

The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Charities Act 2011. They are also responsible for safeguarding the assets of the company.

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KINGDOM LIFE ASSEMBLIES OF GOD CHURCH CHARITABLE COMPANY LIMITED BY GUARANTEE

INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF KINGDOM LIFE ASSEMBLIES OF GOD

I report on the financial statements of the charity for the 12-month period 1st April 2022 to 31[st] March 2023, which are set out on pages 10 to 16.

Respective responsibilities of Trustees and examiner

The Trustees are responsible for the preparation of the accounts. The Trustees consider that an audit is not required for this year under section 144 of the Charities Act 2011 (the Charities Act) and that an independent examination is needed. I am qualified to undertake the examination by being a qualified Fellow and Practising Member of the Association of Chartered Certified Accountants. The charity’s gross income however does not exceed £250,000.

Having satisfied myself that the charity is not subject to audit under company law and is eligible for independent examination, it is my responsibility to:

  1. Examine the accounts under section 145 of the Charities Act;

  2. To follow the procedures laid down in the general Directions given by the Charity Commission under section 145(5)(b) of the Charities Act; and

  3. To state whether particular matters have come to my attention.

Basis of independent examiner’s report

My examination was carried out in accordance with the general directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts and seeking explanations from you as Trustees concerning 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 out in the statement below.

Independent examiner’s statement

In connection with my examination, no matter has come to my attention:

  1. Which gives me reasonable cause to believe that in any material respect the requirements:

  2. to keep accounting records in accordance with section 131 of the Charities Act; and

  3. to prepare accounts which accord with the accounting records, comply with the accounting requirements and with the methods and principles of the Statement of Recommended Practice: Accounting and Reporting by Charities have not been met; or

  4. Which in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.

J A Y Clarke, FCCA MBA BA

The Strategy Corporation Chartered Certified Accountants and Management Consultants 50 Badgers Way Buckingham Buckinghamshire MK18 7HL

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KINGDOM LIFE ASSEMBLIES OF GOD CHURCH CHARITABLE COMPANY LIMITED BY GUARANTEE

16 January 2024

STATEMENT OF FINANCIAL ACTIVITIES FOR THE 12 MONTH PERIOD ENDED 31 MARCH 2023
Notes
INCOME FROM:
Donations and Legacies
2
TOTAL
EXPENDITURE ON:
Charitable Activities
3
TOTAL
Net income/(expenditure)
Net movement in funds
Reconciliation of Funds
Total funds brought forward
8
Total funds carried forward		 2023
2023
2023
2022
£
£
£
£
Unrestricted
Funds
Restricted
Funds
Total
Funds
Total
Funds
96,406
-
96,406
57,982		 2022
96,406
96,406
57,982
96,512
-
96,512
59,243
96,512
96,512
59,243
(106)
-
(106)
(1,261)
(106)
(106)
(1,261)
3,943
3,943
5,204
3,837
3,837
3,943

The statement of financial activities includes all gains and losses recognised in the during. All income and expenditure derive from continuing activities.

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KINGDOM LIFE ASSEMBLIES OF GOD CHURCH CHARITABLE COMPANY LIMITED BY GUARANTEE

STATEMENT OF FINANCIAL POSITION AS AT 31 MARCH 2023

Fixed Assets
Tangible Assets
Current Assets
Debtors
Cash at Bank and in hand
Creditors: Amounts falling due within one year
Net Current Assets/(liabilities)
Total assets less current liabilities
Creditors: Amounts falling due after one year
NET ASSETS
Funds of the charity
Restricted Funds
Unrestricted Funds
TOTAL FUNDS		 Notes
5
6
7
8
8		 2023
2022
£
£
5,437
4,098
-
-
46,411
50,825
46,411
50,825
(530)
(980)
45,880
49,845
51,317
53,943
(47,479)
(50,000)
3,837
3,943
-
-
3,837
3,943
3,837
3,943

The notes on pages 13 to 16 form part of these accounts

Approved by the Board of Trustees on 31[st] January 2024 and

Signed on their behalf by

……………………………………… (TRUSTEE) James Afrifa Frimpong

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KINGDOM LIFE ASSEMBLIES OF GOD CHURCH CHARITABLE COMPANY LIMITED BY GUARANTEE

NOTES TO THE FINANCIAL STATEMENTS

1. ACCOUNTING POLICIES

(a)Basis of Accounting

The financial statements have been prepared under the historical cost convention, and in accordance with the requirements of Accounting and Reporting by Charities - the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the with the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (Charities SORP FRS 102, update Bulletin 1).

(b)Income

Income is included on the SoFA when the charity becomes legally entitled to the resources; and the monetary value can be measured with sufficient reliability.

(c)Expenditure

Expenditure is accounted for on an accruals basis and has been classified under headings that

aggregate all cost related to the category. Where costs cannot be directly attributed to particular

headings they have been allocated to activities on a basis consistent with the use of resources.

(d)Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off the cost less estimated

residual value of each asset over its estimated useful life or, if held under a finance lease, over the

lease term, whichever is the shorter: Fittings & Equipment:

(a) Computer Equipment - 33.3% on cost (b) Technical Equipment – 20% on cost (c) Furniture and Fixtures – 20% on cost Motor Vehicles – 20% on cost

(e)Stocks

Stocks are valued at the lower cost and net realisable value, after allowing for obsolete and slow-moving items.

(f) Taxation

The charity is exempt from corporation tax on its charitable activities.

(g)Fund Accounting

Unrestricted funds can be used by the charitable objectives at the discretion of the Trustees. Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

(h)Volunteer help

The value of any voluntary help received is not included in the accounts but is described in the Trustees’ annual report.

(j) Going Concern

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KINGDOM LIFE ASSEMBLIES OF GOD CHURCH CHARITABLE COMPANY LIMITED BY GUARANTEE

The accounts have been prepared on the Going Concern basis and the Trustees are not aware of any reason why this does not apply.

2. ANALYSIS OF DONATIONS AND LEGACIES

Donations
Gift Aid Receipts
Tithes/Oferings		 Unrestricted
Funds
Restricted
Funds
Total 2023
Total 2022
4,040
4,040
1,395
21,598
21,598
9,811
70,768
70,768
46,775
96,406
-
96,406
57,982

3. ANALYSIS OF EXPENDITURE ON CHARITABLE ACTIVITIES

Welfare
Evangelism and Special Events
Conferences and Meetings
Ministry expenses
Operational expenses
Vehicle expenses
Depreciation Expense
Professional Fees
Insurance
Entertainment & Hospitality
Telephone & Internet
Bank Charges
Interest		 Activities
undertaken
directly
Support
Costs
Total 2023
Total 2022
£
£
£
£
5,110
5,110
200
1,729
1,729
910
7,547
7,547
3,521
31,191
31,191
30,964
24,154
24,154
13,312
15,218
15,218
5,744
1,437
1,437
826
530
530
500
4,476
4,476
1,913
1,220
1,220
277
2,281
2,281
971
280
280
105
1,339
1,339
69,731
26,781
96,512
59,243

4. GOVERNANCE COSTS

These are costs associated with the governance arrangements of the charity which relate to the general running of the charity. The costs will normally include internal and external audits, legal advice for Trustees costs associated with constitutional and statutory requirements, and any other costs associated with the strategic as opposed to day-to-day management of the charity’s activities. No governance costs were incurred during the year (2022: nil)

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KINGDOM LIFE ASSEMBLIES OF GOD CHURCH CHARITABLE COMPANY LIMITED BY GUARANTEE

4.1 Trustees and Related Parties Other than Trustees who also act as key management personnel, no payments or reimbursements for out-of-pocket expenses were made to Trustees or other third parties during the year (2022: nil)

Under this financial year, there has not been any remuneration incurred to any Trustee or their family members. The Charity has however benefited significantly from Trustees and their contributions to the charity. All Trustees and their family contribute through tithing and offerings and regular donations.

4.2 Analysis of staff costs, trustee remuneration and expenses, and the cost of key management personnel

Key management personnel are those deemed to be those having authority and responsibility, delegated to them by the trustees, for planning, directing, and controlling the activities of the church. During the year this was Pastor James Afrifa Frimpong.

Remuneration and expenses for Pastor Afrifa Frimpong in this capacity was as follows:

2023 2022 £ £ Remuneration 12,000 10,000

4.3 Fees for examination or audit of the accounts

Total paid and accrued in the accounts for the statutory external scrutiny of accounts or other services provided by the independent examiner was £530 (2022: £500)

5. FIXED ASSETS
Tangible Assets
Cost or valuation
Balance brought forward
Additions
At the end of the year
Depreciation and impairments
Balance brought forward
Impairment charges
Charge for the year
At the end of the year
Net Book Value
At the beginning of the year
0
At the end of the year		 Fixtures, Fittings
and Equipment
Motor
Vehicles
Total
£
£
£
8,310
1,118
9,429
1,477
1,300
2,777
9,787
2,418
12,206
4,847
484
5,331
-
-
1,041
397
1,438
5,888
881
6,769
3,464
634
4,098

~~0~~
~~0~~
3,900
1,537
5,437

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KINGDOM LIFE ASSEMBLIES OF GOD CHURCH CHARITABLE COMPANY LIMITED BY GUARANTEE

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Other Creditors relate to technical equipment purchased on credit terms.

Accruals
CREDITORS: AMOUNTS FALLING DUE		 Accruals
CREDITORS: AMOUNTS FALLING DUE		 2023
2022
£
£
530
980
530
980
AFTER ONE YEAR
2023
2022
£
£
47,479
50,000
47,479
50,000
Long term creditors (BBL) 2023
2022
£
£
47,479
50,000
47,479
50,000

7. CREDITORS: AMOUNTS FALLING DUE AFTER ONE YEAR

8. ANALYSIS OF CHARITABLE FUNDS

Analysis of movements in Funds – Current year

FUNDS
Restricted:
Unrestricted: General funds
Total Funds		 Balance
1 Apr 2022
Income
Expenditure
Transfer between
funds
Balance
31 Mar 2023
£
£
£
£
£
-
-
-
-
3,943
96,406
(96,512)
3,837
3,943
96,406
(96,512)
-
3,837

Analysis of movements in Funds - Previous year

Balance Transfer between Balance
FUNDS 1 Apr 2021 Income Expenditure funds 31 Mar 2022
£ £ £ £ £
Restricted: - - - -
Unrestricted: General funds 5,204 57,982 (59,243) 3,943
Total Funds 5,204 57,982 (59,243) - 3,943

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