Charity number: 1178640 Company number: 11319564 (England and Wales) ## KICC THE FOUNTAIN OF GRACE Report of the Directors and Unaudited Financial Statements For the year ended 31 March 2021 Doc ID: 9ac9b2fc3962f438fedf2e75a936ec2d49b2fe68 KICC THE FOUNTAIN OF GRACE Contents Page For the year ended 31 March 2021 |Report of the Directors|1 to 2| |---|---| |Independent Examiner's Report to the Directors|3| |Statement of Financial Activities|4| |Statement of Financial Position|5| |Notes to the Financial Statements|6 to 11| |Detailed Statement of Financial Activities|12| Doc ID: 9ac9b2fc3962f438fedf2e75a936ec2d49b2fe68 KICC THE FOUNTAIN OF GRACE Report of the Directors ## For the year ended 31 March 2021 The Directors have pleasure in presenting their report and the financial statements for the charitable company for the year ended 31 March 2021. The Directors 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 UK and the Republic of Ireland (FRS 102) (effective 1 January 2019). ## **OBJECTIVES AND ACTIVITIES** The charity's Objects are, for the benefit of the public: 1. The advancement of the Christian religion; and 2. The furtherance of the charitable work of the charity by the advancement of such other charitable purposes as the Trustees shall from time to time decide. ## **Statement on public benefit** The directors have considered the Charity Commission's guidance on public benefit, including the guidance 'Public benefit: running a charity (PB2)'. ## **ACHIEVEMENTS AND PERFORMANCE** ## **Significant activities** The year under review turned out to be a most challenging one for the world, thanks to the COVID-19 pandemic that forced the UK Government to impose lockdown restrictions on most businesses and organisations including churches on 22nd March 2020. The lockdown restrictions meant that we could not hold any actual face to face weekly worship services or carry out our usual evangelistic and other events for the benefit of our community and members for most of the year. We did, however, manage to resort to holding our weekly services online and virtually via Zoom and our YouTube channel, KICCTFOG Online that we had to set up. We also participated in the annual Christmas Hamper Challenge, a Kingsway International Christian Centre Christmas initiative that distributes 1000 Christmas Hampers to needing families every year. We also donated toward Noah's Ark food bank that distributes groceries and other necessities to needing families all over Greater London, Essex, and Kent. The other significant achievement to report for the year to 31 March 2021 is the successful renovation and redecoration of All Saints Centre, John Street, Grays, a purpose-built Church of England building that we leased toward the end of March 2020 to serve as our new place of worship. We were finally able to resume our weekly Sunday Services at this new premises on Sunday, 3rd January 2021 after making the building COVID-19 compliant to protect the health and safety of our members and worshippers. ## FUTURE PLANS In addition to providing pastoral care, career and educational counselling and ministry to our members and worshippers, we plan to engage in a number of outreach and evangelistic events and activities COVID-19 restrictions permitting, identify ways to collaborate with other churches and denominations through Transformation Thurrock in supporting the homeless and offering support services to elderly peoples' homes in the Grays area. We plan to continue to provide food bank services and other welfare support for people who are going through financial hardships and other community support services in the Grays area of Thurrock. ## **FINANCIAL REVIEW** The charity reported a total income of £141,063 and a net surplus of £66,872 in the year to 31 March 2021, having kept its expenditure to the barest minimum. As of 31 March 2021, accumulated funds were £176,051, all of which were unrestricted funds. Incoming resources were mainly donations that we received in our weekly services in the form of tithes and offerings from our members and worshippers and gift aid claimed from HMRC during the period under review. ## **Reserves** - The trustees aim to retain sufficient free reserves at a level which enables the Charity to: § finance fixed assets and day to day operating activities. § enable the Charity to cope financially during times of below average performance and cover operational overheads and salaries for at least six months. - § have additional resources available to cope with revenue and capital requirements arising in the next few years as the charity strives to grow and expand in size in terms of its membership and the level of services it provides. § have enough funds to enable the Charity to acquire its own premises in the Thurrock area in the near future. ## **Going concern** At the time of approving the accounts, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. Thus, the Trustees' continue to adopt the going concern basis of accounting in preparing the accounts. 1 of 12 Doc ID: 9ac9b2fc3962f438fedf2e75a936ec2d49b2fe68 KICC THE FOUNTAIN OF GRACE Report of the Directors Continued For the year ended 31 March 2021 ## **STRUCTURE, GOVERNANCE AND MANAGEMENT** ## **Governing document** The organisation is a charitable company, limited by guarantee. It was incorporated on 19th April 2018 and registered as a charity on 5th June 2018. The Company was established under a Memorandum and Articles of Association that established the charitable company's objects and powers and by which it is governed. The charity, although incorporated on 19th April 2018, only commenced operations on 6th January 2019. The governance of the charity is undertaken by the Board of three trustees who hold regular meetings, while the Resident Pastor has responsibility for pastoral matters and the day to day operations of the charity with the support of a number of volunteers. ## **Recruitment and appointment of directors** The directors of the company are also charity trustees for the purpose of charity law. Under the provisions of the Memorandum and Articles of Association, the trustees are appointed to serve for a fixed term of three years. A retiring trustee may be re-appointed. ## **REFERENCE AND ADMINISTRATIVE INFORMATION** **Name of Charity** KICC THE FOUNTAIN OF GRACE **Charity registration number** 1178640 **Company registration number** 11319564 **Principal address** All Saints Centre John Street Grays Essex RM17 6ED ## **Directors** The directors of the charitable company are its trustees for the purpose of charity law. The trustees and officers serving during the year and since the year end were as follows: ## **Independent examiners** Mr Abimbola Odunsi Mr Samuel Okwuonu Mrs Amelia Dumaka Tolu Obisesan New Bond Accountants 4a - 6a Hythe Street Dartford DA1 1BX Approved by the Management Committee and signed on its behalf by ............................................................................. 20 December 2021 Mr Abimbola Odunsi 2 of 12 Doc ID: 9ac9b2fc3962f438fedf2e75a936ec2d49b2fe68 ## KICC THE FOUNTAIN OF GRACE Independent Examiners Report to the Directors For the year ended 31 March 2021 I report to the trustees on my examination of the accounts of the charitable company for the year ended 31 March 2021. ## **Responsibilities and basis of report** As the charity Directors are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act'). Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act. ## **Independent examiners statement** I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: 1. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or 2. the accounts do not accord with those records; or 3. the accounts do not comply with the requirements of section 396 of the 2006 Act other than any requirement that the accounts give a 'true and fair view' which is not a matter considered as part of an independent examination; or 4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Tolu Obisesan New Bond Accountants 4a - 6a Hythe Street Dartford DA1 1BX 20 December 2021 3 of 12 Doc ID: 9ac9b2fc3962f438fedf2e75a936ec2d49b2fe68 ## KICC THE FOUNTAIN OF GRACE Statement of Financial Activities (including Income and Expenditure Account) For the year ended 31 March 2021 |**Notes**
**Income and endowments from:**
Donations and legacies
2
Investments
3
**Total**
**Expenditure on:**
Charitable activities
4/5
**Total**
**Net income/expenditure**
**Reconciliation of funds**
Total funds brought forward
**Total funds carried forward**|**Unrestricted**
**funds**
**£**
140,250
99
**140,349**
)
(73,477
**)**
**(73,477**
**66,872**
109,179
**176,051**|**Restricted**
**funds**
**£**
714
-
**714**
)
(714
**)**
**(714**
**-**
-
**-**|**2021**
**£**
140,964
99
**141,063**
)
(74,191
**)**
**(74,191**
**66,872**
109,179
**176,051**|**2020**
**£**
124,410
100
**124,510**
)
(42,833
**)**
**(42,833**
**81,677**
27,502
**109,179**| |---|---|---|---|---| 4 of 12 Doc ID: 9ac9b2fc3962f438fedf2e75a936ec2d49b2fe68 11319564 Registered Number : ## KICC THE FOUNTAIN OF GRACE Statement of Financial Position As at 31 March 2021 |**Notes**
**Fixed assets**
Tangible assets
10
**Current assets**
11
Debtors
Cash at bank and in hand
**Creditors: amounts falling due within one year**
12
**Net current assets**
**Total assets less current liabilities**
**Net assets**
**The funds of the charity**
Unrestricted income funds
13
**Total funds**|**£**
**2021**
12,203
**12,203**
5,778
161,631
**167,409**
)
(3,561
**163,848**
**176,051**
**176,051**
176,051
**176,051**|**£**
**2020**
6,390
**6,390**
5,553
105,934
**111,487**
)
(8,698
**102,789**
**109,179**
**109,179**
109,179
**109,179**| |---|---|---| For the year ended 31 March 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. - The members have not required the company to obtain an audit of its accounts for the year in question in accordance - with section 476, - The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting - records and the preparation of accounts. These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime. The financial statements were approved and authorised for issue by the Board and signed on its behalf by: Mr Abimbola Odunsi Director 20 December 2021 5 of 12 Doc ID: 9ac9b2fc3962f438fedf2e75a936ec2d49b2fe68 KICC THE FOUNTAIN OF GRACE Notes to the Financial Statements For the year ended 31 March 2021 ## **1. Accounting Policies** ## **Basis of accounting** The financial statements have been prepared under the historical cost convention; except where present, investments are included at market value and at the revaluation of certain fixed assets and in accordance with the Charities SORP (FRS 102) ‘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 UK and Republic of Ireland (FRS 102) (effective 1 January 2019)’, Financial Reporting Standard 102 the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), and the Companies Act 2006. KICC THE FOUNTAIN OF GRACE meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s). ## **Going concern** At the time of approving the accounts, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. Thus, the Trustees' continue to adopt the going concern basis of accounting in preparing the accounts. ## **Funds** Incoming resources are mainly donations that we received in our weekly services in the form of tithes and offerings from our members and worshippers and gift aid claimed from HMRC during the period under review. ## **Incoming resources** All incoming resources are included in the statement of financial activities when the Charity is entitled to the income and the amount can be quantified with reasonable accuracy. ## **Resources expended** Liabilities are recognised as resources expended when there is a legal or constructive obligation committing the Charity to the expenditure. ## **Charitable activites** Charitable activities are those costs relating to activities carried out to meet the objectives of the charity and include directly attributed costs as well as support costs. ## **Allocation and appointment of costs** Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. ## **Taxation** The charity is exempt from corporation tax on its charitable activities. ## **Tangible fixed assets** Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis: Plant and Machinery 25% Straight line Computer Equipment 25% Straight line Furniture, Fixtures & Fittings 25% Straight line 6 of 12 Doc ID: 9ac9b2fc3962f438fedf2e75a936ec2d49b2fe68 ## KICC THE FOUNTAIN OF GRACE Notes to the Financial Statements Continued For the year ended 31 March 2021 ## **2. Income from donations and legacies** |Donations received|**Unrestricted**
**funds**
**£**
140,250
**140,250**|**Restricted**
**funds**
**£**
714
**714**|**2021**
**£**
140,964
**140,964**|**2020**
**£**
124,410
**124,410**| |---|---|---|---|---| ## **3. Investment income** |**Unrestricted funds**
Bank interest receivable|**2021**
**£**
99
**99**|**2020**
**£**
100
**100**| |---|---|---| ## **4. Costs of charitable activities by fund type** |Charitable Activity
Support costs
**Costs of charitable activities by activity type**
**Support costs**
Charitable Activity
**Analysis of support costs**
**Charitable Activity**
Support costs
Finance
Governance costs|**Unrestricted**
**funds**
**£**
15,268
58,209
**73,477**
**Activities**
**undertaken**
**directly**
**£**
15,982|**Restricted**
**funds**
**£**
714
-
**714**
**Support**
**costs**
**£**
58,209|**2021**
**£**
15,982
58,209
**74,191**
**2021**
**£**
74,191
**2021**
**£**
57,143
226
840
**58,209**|**2020**
**£**
21,092
21,741
**42,833**
**2020**
**£**
42,833
**2020**
**£**
20,643
258
840
**21,741**| |---|---|---|---|---| ## **5. Costs of charitable activities by activity type** ## **6. Analysis of support costs** 7 of 12 Doc ID: 9ac9b2fc3962f438fedf2e75a936ec2d49b2fe68 KICC THE FOUNTAIN OF GRACE Notes to the Financial Statements Continued For the year ended 31 March 2021 ## **7. Net income/(expenditure) for the year** This is stated after charging/(crediting): |Depreciation of owned fixed assets
Accountancy fees
**Staff costs and emoluments**
Employees
**Comparative for the Statement of Financial Activities**
**Income and endowments from:**
Donations and legacies
Investments
**Total**
**Expenditure on:**
Charitable activities
**Total**
**Net income/expenditure**
**Reconciliation of funds**
Total funds brought forward
**Total funds carried forward**|**Unrestricted**
**funds**
**£**
123,656
100
**123,756**
)
(42,079
**)**
**(42,079**
**81,677**
27,502
**109,179**|**2021**
**£**
2,500
840
**2021**
1
**1**
**Restricted**
**funds**
**£**
754
-
**754**
)
(754
**)**
**(754**
**-**
-
**-**|**2020**
**£**
839
840
**2020**
1
**1**
**2020**
**£**
124,410
100
**124,510**
)
(42,833
**)**
**(42,833**
**81,677**
27,502
**109,179**| |---|---|---|---| ## **8. Staff costs and emoluments** ## **9. Comparative for the Statement of Financial Activities** 8 of 12 Doc ID: 9ac9b2fc3962f438fedf2e75a936ec2d49b2fe68 ## KICC THE FOUNTAIN OF GRACE Notes to the Financial Statements Continued ## For the year ended 31 March 2021 ## **10. Tangible fixed assets** ||**Plant and**|**Furniture,**|**Computer**|| |---|---|---|---|---| |**Cost or valuation**|**Machinery**|**Fixtures &**|**Equipment**|**Total**| |||**Fittings**||| ||**£**|**£**|**£**|**£**| |At 01 April 2020|1,196|4,552|1,598|7,346| |Additions|4,561|3,752|-|8,313| |At 31 March 2021|**5,757**|**8,304**|**1,598**|**15,659**| |**Depreciation**||||| |At 01 April 2020|374|166|416|956| |Charge for year|517|1,583|400|2,500| |At 31 March 2021|**891**|**1,749**|**816**|**3,456**| |**Net book values**||||| |At 31 March 2021|**4,866**|**6,555**|**782**|**12,203**| |At 31 March 2020|**822**|**4,386**|**1,182**|**6,390**| ## **11. Debtors** |**Amounts due within one year:**
Prepayments and accrued income
**Creditors: amounts falling due within one year**
Other creditors
Accruals and deferred income|**2021**
**£**
5,778
**5,778**
**2021**
**£**
1,536
2,025
**3,561**|**2020**
**£**
5,553
**5,553**
**2020**
**£**
44
8,654
**8,698**| |---|---|---| ## **12. Creditors: amounts falling due within one year** 9 of 12 Doc ID: 9ac9b2fc3962f438fedf2e75a936ec2d49b2fe68 ## KICC THE FOUNTAIN OF GRACE Notes to the Financial Statements Continued ## For the year ended 31 March 2021 ## **13. Movement in funds** ## **Unrestricted Funds** |_Designated_
Gereral D
_General_
General
**Unrestricted Funds - Previous year**
_Designated_
_General_
General|**Balance at**
**01/04/2020**
**£**
-
109,179
**109,179**
**Balance at**
**01/04/2019**
**£**
27,502
**27,502**|**Incoming**
**resources**
**£**
500
139,849
**140,349**
**Incoming**
**resources**
**£**
123,756
**123,756**|**Outgoing**
**resources**
**£**
)
(500
)
(72,977
**)**
**(73,477**
**Outgoing**
**resources**
**£**
)
(42,079
**)**
**(42,079**|**Balance at**
**31/03/2021**
**£**
-
176,051
**176,051**
**Balance at**
**31/03/2020**
**£**
109,179
**109,179**| |---|---|---|---|---| ## **Purpose of unrestricted Funds** ## Gereral D Designated funds are unrestricted funds that the trustees have set aside for a particular purpose and as such are restrictive in their use. Such funds can be undesignated or re-designated. ## General Unrestricted funds are available for use at the discretion of the Committee in furtherance of their charitable objectives unless the funds have been designated for other purposes. ## **Restricted Funds** |General|**Incoming**
**resources**
**£**
714
**714**|**Outgoing**
**resources**
**£**
)
(714
**)**
**(714**|**Balance at**
**31/03/2021**
**£**
-
**-**| |---|---|---|---| 10 of 12 Doc ID: 9ac9b2fc3962f438fedf2e75a936ec2d49b2fe68 KICC THE FOUNTAIN OF GRACE Notes to the Financial Statements Continued For the year ended 31 March 2021 ## **Restricted Funds - Previous year** |General|**Incoming**
**resources**
**£**
754
**754**|**Outgoing**
**resources**
**£**
)
(754
**)**
**(754**|**Balance at**
**31/03/2020**
**£**
-
**-**| |---|---|---|---| ## **Purpose of restricted funds** ## General Restricted funds are subject to specific conditions set out by donors as to how those funds may be used. ## **14. Analysis of net assets between funds** |**Unrestricted funds**
_General_
General
**Previous year**
**Unrestricted funds**
_General_
General|**Tangible**
**fixed assets**
**Net current**
**assets /**
**(liabilities)**
**Net Assets**
**£**
**£**
**£**
12,203
163,848
176,051
**12,203**
**163,848**
**176,051**
**Tangible**
**fixed assets**
**Net current**
**assets /**
**(liabilities)**
**Net Assets**
**£**
**£**
**£**
6,390
102,789
109,179
**6,390**
**102,789**
**109,179**| |---|---| ## **15. Company limited by guarantee** KICC THE FOUNTAIN OF GRACE is a company limited by guarantee and accordingly does not have a share capital. 11 of 12 Doc ID: 9ac9b2fc3962f438fedf2e75a936ec2d49b2fe68 ## KICC THE FOUNTAIN OF GRACE Detailed Statement of Financial Activities For the year ended 31 March 2021 |**INCOME AND ENDOWMENT**
**Donations and legacies**
Tithes
Offerings
Gift Aid
Other Income
**Investments**
Bank Interest Receivable
**Total incoming resources**
**EXPENDITURE**
**Charitable activities**
Charitable Donations
Honorarium
Hospitality
Welfare Expenses
Evangelism And Special Events
Ministry Expenses
**SUPPORT COSTS**
**Support costs**
Depreciation - Owned Assets
Office And Administrative
Rent
I.T. Expenses
Advertisement And Promotion
Insurance
Legal & Professional Fees
Premises Costs
Repairs And Maintanance
Card Processing Charges
Heat And Light
Website, Email & Broadband Services
Sundry Expenses
**Finance**
Bank Charges
**Governance costs**
Accountancy Fees
**Total resources expended**
**Net Income**|**£**
**2021**
99,543
18,771
21,436
1,214
**140,964**
99
**99**
**141,063**
)
(14,003
-
-
)
(1,000
)
(360
)
(619
**)**
**(15,982**
)
(2,500
)
(7
)
(21,000
)
(637
-
)
(539
)
(1,344
)
(24,469
)
(775
)
(387
)
(4,275
)
(750
)
(460
**)**
**(57,143**
)
(226
**)**
**(226**
)
(840
**)**
**(840**
**)**
**(74,191**
**66,872**|**£**
**2020**
81,936
21,400
20,924
150
**124,410**
100
**100**| |---|---|---| |||**124,510**
)
(13,747
)
(1,664
)
(317
)
(1,700
)
(3,457
)
(207
**)**
**(21,092**
)
(839
)
(907
)
(10,806
-
)
(100
)
(575
)
(6,757
)
(45
)
(25
)
(589
-
-
-
**)**
**(20,643**
)
(258
**)**
**(258**
)
(840
**)**
**(840**| |||**)**
**(42,833**
**81,677**| 12 of 12 Doc ID: 9ac9b2fc3962f438fedf2e75a936ec2d49b2fe68 This page does not form part of the statutory financial statements Audit trail TITLE KICC Fountain of Grace Accounts Mar 21 Final FILE NAME KICC Fountain of ...r 21 Final v2.pdf DOCUMENT ID 9ac9b2fc3962f438fedf2e75a936ec2d49b2fe68 AUDIT TRAIL DATE FORMAT DD / MM / YYYY STATUS Completed **20 / 12 / 2021** Sent for signature to Abimbola Odunsi 13:23:22 UTC (abimbola.odunsi@hotmail.com) and Tolu Obisesan (tolu@newbondaccountants.com) from toluobibusiness@gmail.com IP: 2.25.195.148 **20 / 12 / 2021** Viewed by Abimbola Odunsi (abimbola.odunsi@hotmail.com) 20:27:10 UTC IP: 213.205.240.110 **20 / 12 / 2021** Signed by Abimbola Odunsi (abimbola.odunsi@hotmail.com) 20:27:35 UTC IP: 213.205.240.110 **22 / 12 / 2021** Viewed by Tolu Obisesan (tolu@newbondaccountants.com) 00:53:27 UTC IP: 2.25.195.148 **22 / 12 / 2021** Signed by Tolu Obisesan (tolu@newbondaccountants.com) 00:57:41 UTC IP: 2.25.195.148 **22 / 12 / 2021** The document has been completed. 00:57:41 UTC