**REGISTERED COMPANY NUMBER: 11319564 (England and Wales) REGISTERED CHARITY NUMBER: 1178640**
## **KICC THE FOUNTAIN OF GRACE (A COMPANY LIMITED BY GUARANTEE)**
## **Trustees' Report and**
**Unaudited Financial Statements for the Year Ended 31 March 2024**
Document ID: 590626f6-f52a-4f06-932f-af914fd0f39a
**KICC THE FOUNTAIN OF GRACE**
**Contents of the Financial Statements for the Year Ended 31 March 2024**
||**Page**|
|---|---|
|**Trustees' Report**|1 to 3|
|**Independent Examiner's Report**|4|
|**Statement of Financial Activities**|5|
|**Balance Sheet**|6 to 7|
|**Notes to the Financial Statements**|8 to 12|
|**Detailed Statement of Financial Activities**|13 to 14|
Document ID: 590626f6-f52a-4f06-932f-af914fd0f39a
**Trustees' Report for the Year Ended 31 March 2024**
## **KICC THE FOUNTAIN OF GRACE**
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2024. The trustees 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 Republic of Ireland (FRS 102) (effective 1 January 2019).
## **Objectives and activities Objectives and aims**
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.
## **Significant activities**
We held our actual face to face Sunday weekly services at All Saints Centre, Grays in Essex, which were also broadcasted live on our YouTube Channel, KICCTFOG Online and also held our mid-week evening services on Tuesdays and Thursdays online and virtually via Zoom throughout the year under review. We also successfully held our second Christmas and Crossover Services on 25th and 31st December 2023, which were very well attended. We also organised our first Children's Summer Camp during the second week of August 2023 with some 56 children in attendance and we received very positive feedback from both the children and their parents.
We continued 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. We continued to participate 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 useful provisions and groceries to two Old Peoples' Homes in the Grays area, as well as donating the sum of £3,075 to Christ Compassion for the Rural World, £2,000 to Home for The Needy charity, £2,000 to Food Banks and provided welfare support for our members to the tune of £1,400 during the year under review.
The other significant achievement to report for the year to 31 March 2024 is the Health Awareness Seminar we organised on Saturday the 21st of October 2023, and it was facilitated by a London GP and a Nutritional and Detox Therapist with some 31 people in attendance. The video recording of the seminar was also made available for people to watch on our YouTube channel: KICCTFOG Online.
## **Public benefit**
The trustees have considered the Charity Commission's guidance on public benefit, including the guidance 'public benefit: running a charity (PB2)'.
## **Volunteers**
The charity has volunteers who assist the church in achieving its objectives.
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Document ID: 590626f6-f52a-4f06-932f-af914fd0f39a
## **KICC THE FOUNTAIN OF GRACE**
## **Trustees' Report for the Year Ended 31 March 2024**
## **Financial review**
## **Reserves policy**
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.
## **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, identify ways to collaborate with other churches and denominations 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 our members and other people who are going through financial hardships and other community support services in the Grays area of Thurrock. We also plan to hold our second Children's Summer Camp at our Church premises at All Saints Centre, Grays during the month of August 2024.
## **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.
## **Recruitment and appointment of new trustees**
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.
## **Organisational structure**
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.
## **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.
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Document ID: 590626f6-f52a-4f06-932f-af914fd0f39a
**KICC THE FOUNTAIN OF GRACE**
## **Trustees' Report for the Year Ended 31 March 2024**
## **Reference and administrative details Registered Company number**
11319564 (England and Wales)
## **Registered Charity number**
1178640
## **Registered office**
All Saints Centre John Street Grays Essex RM17 6ED
## **Trustees**
Mrs Amelia Uchenna Dumaka Mr Abimbola Olaide Odunsi Mr Samuel Okwuonu
## **Independent Examiner**
Tolu Obisesan (MAAT) ANS Accounts Ltd 82A James Carter Road Mildenhall Suffolk Essex IP28 7DE
This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.
Approved by order of the board of trustees on 23 November 2024 and signed on its behalf by:
Mr Abimbola Olaide Odunsi - Trustee
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Document ID: 590626f6-f52a-4f06-932f-af914fd0f39a
**Independent Examiner's Report to the Trustees of KICC THE FOUNTAIN OF GRACE**
## **Independent examiner's report to the trustees of KICC THE FOUNTAIN OF GRACE ('the Company')**
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2024.
## **Responsibilities and basis of report**
As the charity's trustees of the Company (and also its directors for the purposes of company law) you 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 as 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 examiner's 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:
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 accounting 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 (MAAT)
ANS Accounts Ltd 82A James Carter Road Mildenhall Suffolk IP28 7DE
23 November 2024
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Document ID: 590626f6-f52a-4f06-932f-af914fd0f39a
## **KICC THE FOUNTAIN OF GRACE**
## **Statement of Financial Activities for the Year Ended 31 March 2024**
**----- Start of picture text -----**
2024 2023
Unrestricted Restricted Total Total
fund fund funds funds
Notes £ £ £ £
Income and endowments from
Donations and legacies 145,297 970 146,267 145,815
Investment income 2 4,835 - 4,835 445
Total 150,132 970 151,102 146,260
Expenditure on
Charitable activities 3
Activities in furtherance of the charity's
objectives 121,675 970 122,645 117,881
NET INCOME 28,457 - 28,457 28,379
Reconciliation of funds
-
Total funds brought forward 286,311 286,311 257,932
Total funds carried forward 314,768 - 314,768 286,311
**----- End of picture text -----**
The notes form part of these financial statements
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Document ID: 590626f6-f52a-4f06-932f-af914fd0f39a
## **KICC THE FOUNTAIN OF GRACE**
## **Balance Sheet 31 March 2024**
**----- Start of picture text -----**
2024 2023
Unrestricted Restricted Total Total
fund fund funds funds
Notes £ £ £ £
Fixed assets
Tangible assets 8 37,737 - 37,737 60,219
Current assets
-
Prepayments and accrued income 10,268 10,268 6,905
Cash at bank and in hand 276,070 - 276,070 223,865
-
286,338 286,338 230,770
Creditors
Amounts falling due within one year 9 (9,307) - (9,307) (4,678)
Net current assets 277,031 - 277,031 226,092
Total assets less current liabilities 314,768 - 314,768 286,311
NET ASSETS 314,768 - 314,768 286,311
Funds 10
Unrestricted funds 314,768 286,311
Total funds 314,768 286,311
**----- End of picture text -----**
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
- (a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
- (b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
The notes form part of these financial statements
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Document ID: 590626f6-f52a-4f06-932f-af914fd0f39a
**KICC THE FOUNTAIN OF GRACE**
**Balance Sheet - continued 31 March 2024**
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on 23 November 2024 and were signed on its behalf by:
Mr Abimbola Olaide Odunsi - Trustee
The notes form part of these financial statements
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Document ID: 590626f6-f52a-4f06-932f-af914fd0f39a
**KICC THE FOUNTAIN OF GRACE**
**Notes to the Financial Statements for the Year Ended 31 March 2024**
## **1. ACCOUNTING POLICIES**
## **Basis of preparing the financial statements**
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared 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' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
## **Income**
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
## **Expenditure**
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. 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.
## **Charitable activities**
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.
## **Tangible fixed assets**
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on cost Fixtures and fittings - 25% on cost Computer equipment - 25% on cost
## **Taxation**
The charity is exempt from corporation tax on its charitable activities.
## **Fund accounting**
Unrestricted funds can be used in accordance with 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.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
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Document ID: 590626f6-f52a-4f06-932f-af914fd0f39a
## **KICC THE FOUNTAIN OF GRACE**
## **Notes to the Financial Statements - continued for the Year Ended 31 March 2024**
## **2. INVESTMENT INCOME**
**----- Start of picture text -----**
|||||
|---|---|---|---|
|2024|2023|
|£|£|
|Bank interest|4,835|445|
|CHARITABLE ACTIVITIES COSTS|
|Direct|Support|
|Costs|costs|Totals|
|£|£|£|
|Activities in furtherance of the|
|charity's objectives|113,948|8,697|122,645|
|NET INCOME/(EXPENDITURE)|
|Net income/(expenditure) is stated after charging/(crediting):|
|2024|2023|
|£|£|
|Depreciation - owned assets|23,416|22,800|
**----- End of picture text -----**
## **3. CHARITABLE ACTIVITIES COSTS**
## **4. NET INCOME/(EXPENDITURE)**
## **5. TRUSTEES' REMUNERATION AND BENEFITS**
There were no trustees' remuneration or other benefits for the year ended 31 March 2024 nor for the year ended 31 March 2023.
## **Trustees' expenses**
There were no trustees' expenses paid for the year ended 31 March 2024 nor for the year ended 31 March 2023.
## **6. STAFF COSTS**
Staff give their time willingly and are unpaid.
The average monthly number of employees during the year was as follows:
**----- Start of picture text -----**
||||
|---|---|---|
|2024|2023|
|Staff|1|1|
**----- End of picture text -----**
No employees received emoluments in excess of £60,000.
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## **KICC THE FOUNTAIN OF GRACE**
## **Notes to the Financial Statements - continued for the Year Ended 31 March 2024**
**----- Start of picture text -----**
7. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted Restricted Total
fund fund funds
£ £ £
Income and endowments from
Donations and legacies 144,996 819 145,815
Investment income 445 - 445
Total 145,441 819 146,260
Expenditure on
Charitable activities
Activities in furtherance of the
charity's objectives 117,062 819 117,881
NET INCOME 28,379 - 28,379
Reconciliation of funds
-
Total funds brought forward 257,932 257,932
Total funds carried forward 286,311 - 286,311
8. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£ £ £ £
Cost
At 1 April 2023 64,211 23,288 9,156 96,655
Additions 423 511 - 934
At 31 March 2024 64,634 23,799 9,156 97,589
Depreciation
At 1 April 2023 22,745 9,580 4,111 36,436
Charge for year 15,774 5,738 1,904 23,416
At 31 March 2024 38,519 15,318 6,015 59,852
Net book value
At 31 March 2024 26,115 8,481 3,141 37,737
At 31 March 2023 41,466 13,708 5,045 60,219
**----- End of picture text -----**
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## **KICC THE FOUNTAIN OF GRACE**
## **Notes to the Financial Statements - continued for the Year Ended 31 March 2024**
**----- Start of picture text -----**
9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Other creditors 4,432 941
Accrued expenses 4,875 3,737
9,307 4,678
10. MOVEMENT IN FUNDS
Net
movement At
At 1.4.23 in funds 31.3.24
£ £ £
Unrestricted funds
General fund 286,311 28,457 314,768
TOTAL FUNDS 286,311 28,457 314,768
Net movement in funds, included in the above are as follows:
Incoming Resources Movement
resources expended in funds
£ £ £
Unrestricted funds
General fund 150,132 (121,675) 28,457
Restricted funds
Restricted fund 970 (970) -
TOTAL FUNDS 151,102 (122,645) 28,457
Comparatives for movement in funds
Net
movement At
At 1.4.22 in funds 31.3.23
£ £ £
Unrestricted funds
General fund 257,932 28,379 286,311
TOTAL FUNDS 257,932 28,379 286,311
**----- End of picture text -----**
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Document ID: 590626f6-f52a-4f06-932f-af914fd0f39a
## **KICC THE FOUNTAIN OF GRACE**
## **Notes to the Financial Statements - continued for the Year Ended 31 March 2024**
## **10. MOVEMENT IN FUNDS - continued**
Comparative net movement in funds, included in the above are as follows:
|**Unrestricted funds**
General fund
**Restricted funds**
Restricted fund
**TOTAL FUNDS**|Incoming
resources
£
145,441
819
146,260|Resources
expended
£
(117,062)
(819)
(117,881)|Movement
in funds
£
28,379
-
28,379|
|---|---|---|---|
## **11. RELATED PARTY DISCLOSURES**
Donations to KICC National Forum UK Mar 24: £14,885 (Mar 23: £14,556).
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Document ID: 590626f6-f52a-4f06-932f-af914fd0f39a
## **KICC THE FOUNTAIN OF GRACE**
## **Detailed Statement of Financial Activities for the Year Ended 31 March 2024**
**----- Start of picture text -----**
2024 2023
£ £
Income and endowments
Donations and legacies
Donations 122,095 119,752
Gift aid 24,172 26,063
146,267 145,815
Investment income
Bank interest 4,835 445
Total incoming resources 151,102 146,260
Expenditure
Charitable activities
Rates and water 272 181
Insurance 650 633
Light and heat 9,129 4,522
Telephone 1,284 1,589
Office and administrative cost 136 640
Advertising 909 200
Sundries 910 674
Charitable donations 14,885 14,556
Welfare 1,400 6,000
Mission 7,075 3,614
Special events 3,132 3,582
Rent 36,000 36,000
Systems and softwares 205 584
Repairs and renewals 375 11,985
-
Premises expenses 12,051
Hospitality 140 148
Bank charges 188 182
Gifts and honorarium 1,780 2,769
Plant and machinery 15,773 15,388
Fixtures and fittings 5,738 5,166
Computer equipment 1,916 2,246
113,948 110,659
**----- End of picture text -----**
## **Support costs**
This page does not form part of the statutory financial statements
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Document ID: 590626f6-f52a-4f06-932f-af914fd0f39a
## **KICC THE FOUNTAIN OF GRACE**
## **Detailed Statement of Financial Activities for the Year Ended 31 March 2024**
**----- Start of picture text -----**
2024 2023
£ £
Support costs
Governance costs
Accountancy and examiner fees 850 850
Legal and professional fees 7,847 6,372
8,697 7,222
Total resources expended 122,645 117,881
Net income 28,457 28,379
**----- End of picture text -----**
This page does not form part of the statutory financial statements
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Document ID: 590626f6-f52a-4f06-932f-af914fd0f39a
## Completed Document Audit Report
Completed with SignWell.com
## **Title: KICC FoG Accounts Mar 24 Final**
Document ID: 590626f6-f52a-4f06-932f-af914fd0f39a
Time Zone: (GMT+00:00) Coordinated Universal Time
## **Files**
KICC FoG Accounts Mar 24 Final.pdf - 16 pages
Nov 27, 2024 17:59:49 UTC
## **Activity**
|**Tolu Obisesan**|created the document (tolu@ansaccounts.com)|Nov 27, 2024|
|---|---|---|
|||17:59:49 UTC|
|IP: 2.25.195.180|||
|**Tolu Obisesan**|sent the document to aodunsi@sky.com|Nov 27, 2024|
|||18:03:18 UTC|
|**Abimbola Odunsi**|first viewed document (aodunsi@sky.com)|Nov 27, 2024|
|||18:05:16 UTC|
|IP: 95.0.5.197|||
|**Abimbola Odunsi**|signed the document (aodunsi@sky.com)|Nov 27, 2024|
|||18:06:08 UTC|
|IP: 95.0.5.197|||
|**Tolu Obisesan**|sent the document to tolu@ansaccounts.com|Nov 27, 2024|
|||18:06:08 UTC|
|**Tolu Obisesan**|first viewed document (tolu@ansaccounts.com)|Nov 27, 2024|
|||18:10:33 UTC|
|IP: 2.25.195.180|||
|**Tolu Obisesan**|signed the document (tolu@ansaccounts.com)|Nov 27, 2024|
|||18:11:10 UTC|
|IP: 2.25.195.180|||
Document ID: 590626f6-f52a-4f06-932f-af914fd0f39a