KICC Kingdom Harvest
## Report and Accounts
31 March 2023
Company registration number - 11334717 Charity registration number - 1178702
## **KICC Kingdom Harvest**
## **Report and accounts for the year ended 31 March 2023**
## **Contents**
||**Page (s)**|
|---|---|
|**Charity information**|1|
|**Trustees' annual report**|2 - 5|
|**Statement of directors' responsibilities**|6 - 7|
|**Independent accountant's report**|8 - 9|
|**_Funds statements: -_**||
|Statement of financial activities|10|
|Movements in funds|11|
|Income and expenditure account|11|
|**Balance sheet**|12|
|**Notes to the accounts**|13 - 21|
## **KICC Kingdom Harvest**
Company registration number - 11334717
## **Trustees' annual report for the year ended 31 March 2023**
The trustees present their report and accounts for the year ended 31 March 2023, which also comprises the directors' report required by the Companies Act 2006.
## **Reference and administrative details**
## _**The charity name.**_
The legal name of the charity is: - KICC Kingdom Harvest.
## _**The charity's areas of operation and UK charitable registration.**_
The charity is registered in England & Wales with the Charity Commission in England & Wales (CCEW) with charity number 1178702.
The charity does not operate in any overseas jurisdictions.
## _**Legal structure of the charity**_
The charity is constituted as a company limited by guarantee, registered under the Companies Acts. The governing document of the charity is the Memorandum and Articles of Association establishing the company under company legislation.
The governing document is dated 28 April 2018
There are no restrictions in the governing documents on the operation of the Charity or on its investment powers other than those imposed by Charity Law.
By operation of law all, trustees are directors under the Companies Act 2006 and all directors are trustees under Charities legislation and have responsibilities, as such, under both company and charity legislation.
The trustees are all individuals and listed below:
Olumuyiwa Olukemi Kogbe Khavuta Mbatsana Anthony Olanrewaju Oketayo (Resigned 30 April 2021) Lisa Samanthar Dube
## **The principal operating address, telephone number, email and web addresses of the charity are: -**
Kingsway International Christian Centre
Prayer City, Buckmore Park Chatham, ME5 9QG Telephone 07447833298
Email Address: info@kicckingdomharvest.org.uk
> [Web address: www.kicckingdomharvest.org.uk]
1
## **KICC Kingdom Harvest**
Company registration number - 11334717
## **Trustees' annual report for the year ended 31 March 2023**
The registered office of the charity for Companies Act purposes is the same as the operating address shown above.
## **The following persons served as trustees during the year ended 31 March 2023**
The trustees who served as a trustee in the reporting period were as shown above, Anthony Olanrewaju Oketayo resigned on 30 April 2021.
## **Objects and activities of the charity**
## _**The purposes of the charity as set out in its governing document.**_
The main objective for which the charity is established is the advancement of the Christian faith.
The other objectives are:
1. For the benefit of the public.
2. For the furtherance of the charitable work of the church by the advancement of such other charitable purposes as the trustees shall from time to time decide.
## **The main activities undertaken in relation to those purposes during the year.**
This year, the Charity has been compliant in the execution of its charitable purposes and responsibilities by providing a shelter where people are able to worship and practise their Christian religious beliefs.
The year on the review was an incredibly challenging year for the church. This is because of the COVID-19 restrictions that were put in place by the government, which were necessitated by the pandemic.
The lockdown restrictions meant that we could not hold any actual face to face worship services and conduct our usual evangelistic and other events for the benefit of our community and members of our church from the beginning of the reporting year until July 2021.
However, we were able to resort to holding our weekly services Online and virtually via the Zoom App.
During the course of the year, we were able to fulfil the conditions of the owners of our building and was able to resume our Sunday services resulting in regular weekly attendance.
Subsequently, we have been able to engage with the community by distributing food packs at the town centre to the homeless and needy members of the public. We also gave out Christmas hampers to the underprivileged families in our community. We supported a member who had challenges with medical bills and also sponsored an oversea planting of a branch of the Church.
2
## **KICC Kingdom Harvest**
Company registration number - 11334717
## **Trustees' annual report for the year ended 31 March 2023**
We have put plans in place to continue to provide food bank services and additional welfare support to people in our community, especially those who have suffered the effects of the COVID-19 lockdown and have either lost their employment, businesses or homes.
We have seen a significant increase in our income through the generous giving of our members who have been committed to supporting the vision of the Charity. We have given consideration and attention to the Charity commission’s guidance on public benefit and the specific guidance on charities for the advancement of the religion in particular. The trustees have devised plans to focus on supporting members of our immediate community so that they may continue to benefit from the services provided by the Charity.
## _**The main activities undertaken during the year to further the charity's purpose for the public benefit.**_
The trustees have complied with the duty in Section 4 of the Charities Act 2006 and paid due regard to public benefit when preparing this report. The benefit provided to the public is consistent with the aims of the charity in the United Kingdom.
The trustees have had regard to the Charity Commission's guidance on public benefit in managing the activities of the charity.
The charity benefits the public by providing services such as counselling to families, students, bereaved persons, those in financial difficulties, prayer support, men and women’s meetings and events for all in the community.
## _**The contribution of volunteers during the year.**_
The church is grateful for the commitment and efforts of its volunteers who are involved in services provision. The church has over 20 volunteers committed to working in various departments within the church. The church continues to dispense the service of heads of departments and ministers to ensure that the best value is derived from the sterling efforts of the volunteers.
3
## **KICC Kingdom Harvest**
Company registration number - 11334717
## **Trustees' annual report for the year ended 31 March 2023**
## **The main achievements and performance of the charity during the year.**
Despite the COVID-19 pandemic, the trustees are pleased to report that the church continued to be successful spiritually by ministering to many people in prayer and welfare. The church has improved in membership strength and is increasingly reaching out to the community.
## _**The degree to which the achievements and performance during the year have benefited wider society.**_
The charity benefits the public by providing services such as telephone counselling to families, students, bereaved persons, those in financial difficulties, prayer support, men and women’s meetings and events for all in the community.
We raised members to be devoted to God, to be firm in fasting and prayer, and walk in the supernatural; teaching and encouraging them to function in their callings and gifting.
The youth and the children’s ministries engaged in various developmental activities including;
- Kingsway Bible Institute (KBI)
- Bible teaching classes on baptism
- Membership and stewardship.
These trainings provided development opportunities to serve the charity upon successful completion.
## **Structure, governance and management of the charity**
## _**The methods used to recruit and appoint new charity trustees.**_
## _**The charity's organisational structure.**_
The board of trustees is headed by a Chairman, the Secretary to the trust and a financial secretary. All the present employees of the charity are voluntary workers. The trustees are responsible for making all decisions regarding allocation of fund and activities.
## **Bankers:**
NatWest Bank Plc NatWest Business Banking P O Box 16204 Birmingham B2 2WP
4
## **KICC Kingdom Harvest**
Company registration number - 11334717
## **Trustees' annual report for the year ended 31 March 2023**
## **Financial review**
## _**The charity's financial position at the end of the year ended 31 March 2023**_
The financial position of the charity at 31 March 2023 and comparatives for the prior period, as more fully detailed in the accounts, can be summarised as follows:-
|**_Total Unrestricted Funds_**
**Net income**
Unrestricted Revenue Funds available for
the general purposes of the charity|**2023**
**2022**
**£**
**£**
36,623
17,570
142,311
105,688
**142,311**
**105,688**|
|---|---|
## _**Financial review of the position at the reporting date, 31 March 2023.**_
During the year, income of £68,229.42 (£43,049 in 2022) received as voluntary donations and gift aids. The net movement in funds for the period, as shown in the statement of financial activities for the period was £36,623 (£17,570 in 2022). The value of the KICC Kingdom Harvest’s net assets as at 31 March 2023 is £142,311 (£105,687 in 2022).
## _**Availability and adequacy of assets of each of the funds**_
The board of trustees is satisfied that the charity's assets in each fund are available and adequate to fulfil its obligations in respect of each fund.
## _**The major risks to which the Charity is exposed and reviews and systems to mitigate them.**_
The trustees have assessed the major risks to which the charity is exposed, in particular those related to operations and finances of the charity and are satisfied that systems are in place to mitigate against exposures to the major risks.
## **Details of the independent examiner**
Adeniyi Zaccheus
Member of Chartered Certified Accountant
1A Town Square Erith London DA8 1RE
5
## **KICC Kingdom Harvest**
Company registration number - 11334717
## **Trustees' annual report for the year ended 31 March 2023**
## **Statement of the directors trustees' responsibilities**
The charity's trustees are responsible for the preparation of the accounts in accordance with the terms of the Companies Act 2006, the Charities Act 2011 and the Charities (Accounts and Reports) Regulations 2008. Notwithstanding the explicit requirement in the extant statutory regulations, the Charities (Accounts and Reports) Regulations 2008, to prepare the financial statements in accordance with the SORP 2005, in view of the fact that the SORP 2005 has been withdrawn, the trustees determined to interpret this responsibility as requiring them to follow current best practice and prepare the accounts according to the FRS 102 SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) 2015, (as amended by the Bulletin issued in October 2018 and applicable to all accounting periods beginning on or after 1st January 2019), (The SORP), .
In particular, the Companies Act 2006 and charity law require the Board of trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity as at the end of the financial year and of the surplus or deficit of the charity. In preparing those financial statements the Board is required to :-
- to prepare the accounts in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law).
- 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 charity will continue in business;
- state whether applicable accounting standards and statements of recommended practice have been followed, subject to any material departures disclosed and explained in the financial statements;
The law requires that the trustees must not approve the accounts unless they are satisfied that they give a true and fair view of the state of affairs of the charity and of the surplus or deficit of the charity for the year.
The trustees are also responsible for maintaining adequate accounting records which disclose with reasonable accuracy at any time the financial position of the charity and which are sufficient to show and explain the charity's transactions and enable them to ensure that the financial statements comply with the Companies Act 2006 and comply with regulations made under the Charities Act. They 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.
The trustees are also responsible for the contents of the trustees' report, and the statutory responsibility of the Independent Examiner in relation to the trustees' report is limited to examining the report and ensuring that, on the face of the report, there are no material inconsistencies with the figures disclosed in the financial statements.
6
## **KICC Kingdom Harvest**
Company registration number - 11334717
## **Trustees' annual report for the year ended 31 March 2023**
## **Method of preparation of accounts - small company provisions**
The financial statements are set out on pages 12 to 21.
The financial statements have been prepared implementing the FRS 102 SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) 2015, (as amended by the Bulletin issued in October 2018 and applicable to all accounting periods beginning on or after 1st January 2019), (The SORP), and in accordance with the Financial Reporting Standard 102, (effective 1st January 2016)
These financial statements have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006. applicable to companies subject to the small companies' regime.
This report was approved by the board of trustees on 22 December 2023.
Olumuyiwa Olukemi Kogbe Director and trustee
7
## **KICC Kingdom Harvest**
## **Report of the independent examiner to the trustees of the charitable company on the accounts for the year ended 31 March 2023**
I report to the trustees on my examination of the financial statements of the charitable company on pages 10 to 21 for the year ended 31 March 2023 which have been prepared in accordance with the Charities Act 2011 (the Act) and with the Financial Reporting Standard 102, (effective 1st January 2016) as modified by FRS 102 SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) 2015, (as amended by the Bulletin issued in October 2018 and applicable to all accounting periods beginning on or after 1st January 2019), (The SORP), published by the Charity Commission in England & Wales (CCEW) , and under the historical cost convention and the accounting policies set out on page 13.
## **Respective responsibilities of the trustees and the independent examiner and the basis of the report**
As described on page 9, you, the charitable company's trustees, who are also the Directors of the Company for the purposes of Company law, are responsible for the preparation of the financial statements in accordance with the Companies Act 2006, the Charities Act 2011 and all other applicable law and with United Kingdom Generally Accepted Accounting Practice, applicable to smaller entities, and for being satisfied that the financial statements give a true and fair view.
The trustees consider that the audit requirement of Section 144(1) of the Charities Act 2011 (the Act) does not apply, and that there is no requirement in the memorandum and articles of the charity for the conducting of an audit, and that the accounts do not require an audit in accordance with Part 16 of the Companies Act 2006 and that no member or members have requested an audit pursuant to Section 476 of the Companies Act 2006. As a consequence, the trustees have elected that the financial statements be subject to independent examination.
Having satisfied myself that the financial statements are not required to be audited under any legal provision, or otherwise, and are eligible for independent examination, it is my responsibility
a) examine the financial statements of the charity under Section 145 of the Act;
b) follow the applicable procedures in the Directions given by the Charity Commission under section 145(5)(b) of the Act.
## **Basis of independent examiner's statement and scope of work undertaken**
I report in respect of my examination of the charity's financial statements carried out under s145 of the Act. In carrying out my examination, I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act setting out the duties of an independent examiner in relation to the conducting of an independent examination. An independent examination includes a review of the accounting records kept by the charitable company and of the accounting systems employed by the charitable company and a comparison of the financial statements presented with those records. It also includes consideration of any unusual items or disclosures in the financial statements, and seeking explanations from you, as trustees, concerning such matters. The purpose of the examination is to establish as far as possible that there have been no breaches of charity legislation and that, on a test basis of evidence relevant to the amounts and disclosures made, the financial statements comply with the
8
## **KICC Kingdom Harvest**
The procedures undertaken do not provide all the evidence that would be required in an audit, and information supplied by the trustees in the course of the examination is not subjected to audit tests or enquiries and does not cover all the matters that an auditor would consider in arriving at an opinion. The planning and conduct of an audit goes beyond the limited assurance that an independent examination can provide
Consequently, I do not express an audit opinion on the view given by the financial statements, and in particular, I express no opinion as to whether the financial statements give a true and fair view of the affairs of the charity, and my report is limited to the matters set out in the statement below.
I planned and performed my examination so as to satisfy myself that the objectives of the independent examination are achieved and before finalising the report, I obtained written assurances from the trustees of all material matters.
## **Independent examiner's statement, report and opinion**
Subject to the limitations upon the scope of my work as detailed above, I have completed my examination: and can confirm that:-
The accounts of this charitable company are not required to be audited under Part 16 of the Companies Act 2006;
This is a report in respect of an examination carried out under 145 of the Act and in accordance with Directions given by the Charity Commission under section 145(5)(b) of the Act which may be applicable;
and that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:-
accounting records were not kept in respect of the charity as required by Section 386 of the Companies Act 2006 and Section 130 of The Charities Act 2011;
the financial statements do not accord with those records; or the financial statements do not comply with the applicable requirements concerning the form and content of accounts set out in section 396 of the Companies Act 2006 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;
have not been prepared in accordance with the methods and principles set out in the FRS 102 SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) 2015, (as amended by the Bulletin issued in October 2018 and applicable to all accounting periods beginning on or after 1st January 2019), (The SORP).
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 financial statements to be reached.
Adeniyi Zaccheus - Independent examiner
Chartered Certified Accountant
1A Town Square Erith London DA8 1RE
This report was signed on 22 December 2023
9
## **KICC Kingdom Harvest - Statement of Financial Activities for the year ended 31 March 2023**
## _**Statement of Financial Activities (including the Income and Expenditure Account for the year ended 31 March 2023, as required by the Companies Act 2006)**_
|**Current year**
**Unrestricted**
**funds**
**2023**
**£**
**Income & Endowments from:**
Donations & Legacies
68,229
**Expenditure on:**
Charitable activities
31,606
**Total expenditure**
**31,606**
**Net income for the year**
**36,623**
**36,623**
**Reconciliation of funds:-**
**Total funds b/forward**
105,688
**Total funds c/ forward**
**142,311**
**Net movement in funds**|**Current year**
**Restricted**
**funds**
**2023**
**£**
-
-
**-**
**-**
**-**
-
**-**|**Current year**
**Prior year**
**Total funds**
**Total**
**funds**
**2023**
**2022**
**£**
**£**
**68,229**
43,049
**31,606**
25,479
**31,606**
**25,479**
**36,623**
**17,570**
**36,623**
**17,570**
**105,688**
88,117
**142,311**
**105,687**|
|---|---|---|
The 'SORP Ref' indicated above is the classification of income set out in the formal SORP documents. As required by paragraph 4.60 of the SORP, the brought forward and carried forward funds above have been agreed to the balance sheet.
A separate statement of total recognised gains and losses is not required as this statement includes all recognised gains and losses.
All the prior year transactions were unrestricted items, and no further analysis is required All activities derive from continuing operations
## **KICC Kingdom Harvest - Resources applied in the year ended 31 March 2023 towards fixed assets for Charity use:-**
|Funds generated in the year as detailed in the SOFA
Resources applied on functional fixed assets
**Net resources available to fund charitable activities**|**2023**
**2022**
**£**
**£**
36,623
17,570
(115)
**36,623**
**17,455**|
|---|---|
The resources applied on fixed assets for charity use represents the cost of additions less proceeds of any disposals.
**The notes attached on page 13 to 21 form an integral part of these accounts.**
10
## **KICC Kingdom Harvest - Statement of Financial Activities for the year ended 31 March 2023**
## **KICC Kingdom Harvest**
**Movements in revenue and capital funds for the year ended 31 March 2023**
## **Revenue accumulated funds**
|**Unrestricted**
**funds**
**2023**
**£**
Accumulated funds brought
105,688
36,623
**142,311**
**Closing revenue funds**
**142,311**
**Summary of funds**
**Unrestricted**
**and**
**Designated funds**
**2023**
**£**
Revenue accumulated funds
142,311
Recognised gains and
losses before transfers|**Restricted**
**funds**
**2023**
**£**
-
-
**-**
**-**
**Restricted**
**funds**
**2023**
**£**
-|**Total**
**Last year**
**funds**
**Total funds**
**2023**
**2022**
**£**
**£**
105,688
**88,117**
36,623
17,570
**142,311**
**105,687**
**142,311**
**105,687**
**Total**
**Last year**
**funds**
**Total funds**
**2023**
**2022**
**£**
**£**
**142,311**
105,687|
|---|---|---|
## **Income and Expenditure Account for the year ended 31 March 2023 as required by the Companies Act 2006**
|**by the Companies Act 2006**|||
|---|---|---|
|**_Income_**
Income from operations
**Gross income**
**_Expenditure_**
Charitable expenditure, excluding depreciation and amortisation
Depreciation and amortisation
Governance costs
**Total expenditure in the year**
**Retained surplus for the financial year**|**2023**
**£**
68,229
**68,229**
30,291
715
600
**31,606**
**36,623**|**2022**
**£**
43,049|
|||**43,049**|
|||24,452
427
600|
|||**25,479**|
||||
|||**17,570**|
All activities derive from continuing operations
In accordance with the provisions of the Companies Act 2006, the headings and subheadings used in the Income and Expenditure account have been adapted to reflect the special nature of the charity's activities.
## **The notes attached on page 13 to 21 form an integral part of these accounts.**
11
## **KICC Kingdom Harvest - Balance Sheet as at 31 March 2023**
||Notes||**2023**||**2022**|
|---|---|---|---|---|---|
||||**£**||**£**|
|**Fixed assets**||||||
|Tangible assets|7||2,596||116|
|**Current assets**||||||
|Debtors|8|5,031||5,031||
|Cash at bank and in hand||135,564||101,421||
|**Total current assets**||140,595||106,452||
|**Creditors: amounts falling due**||||||
|**within one year**|9|(880)||(880)||
|**Net current assets**|||139,715||105,572|
|**The total net assets of the charity**|||**142,311**||**105,688**|
|**The total net assets of the charity**|**are funded by the**||**funds of the**|**charity, as follows:-**||
|**Restricted funds**||||||
|**Unrestricted Funds**
Unrestricted Revenue Funds
12
142,311
**Designated Funds**
**Total charity funds**|-
105,688
142,311
**142,311**|-
105,688|
|---|---|---|
|||**105,688**|
The 'SORP Ref' indicated above is the classification of Balance Sheet items as set out in the formal SORP documents. As required by paragraph 4.60 of the SORP, the brought forward and carried forward funds above have been agreed to the SOFA..
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The charity is subject to independent examination under charity legislation, and the report of the independent examiner is on page 8-9.
The financial statements have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006. applicable to companies subject to the small companies regime.
Olumuyiwa Olukemi Kogbe
## **Trustee**
Approved by the board of trustees on 22 December 2023
## **The notes attached on page 13 to 21 form an integral part of these accounts.**
12
## **KICC Kingdom Harvest**
## **Notes to the accounts for the year ended 31 March 2023**
## **1 Accounting policies**
## _**Policies relating to the production of the accounts.**_
## **Basis of preparation and accounting convention**
The accounts have been prepared on the accruals basis, under the historical cost convention, and in accordance with the Financial Reporting Standard 102, (effective 1st January 2016) and 'FRS 102 SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) 2015, (as amended by the Bulletin issued in October 2018 and applicable to all accounting periods beginning on or after 1st January 2019), (The SORP), published by the Charity Commission in England & Wales (CCEW) , effective January 2016, , and in accordance with all applicable law in the charity's jurisdiction of registration, except that the charity has prepared the financial statements in accordance with the FRS 102 SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) 2015, (as amended by the Bulletin issued in October 2018 and applicable to all accounting periods beginning on or after 1st January 2019), (The SORP), in preference to the previous SORP, the SORP 2005, which has been withdrawn, notwithstanding the fact that the extant statutory regulations, the Charities (Accounts and Reports) Regulations 2008 refer explicitly to the SORP 2005. This has been done to accord with current best practice.
## **Going Concern**
The charitable activities are entirely dependent on continuing grant aid and voluntary donations as well as trading revenues. As a consequence, the going concern basis is dependent on the future flow of these uncertain funding streams. Accordingly, the trustees have obtained forecasts and, after reviewing the financial forecasts for future periods to 31 March 2023, the trustees are satisfied that, at the time of approving the financial statements, it is appropriate to adopt the going concern basis in preparing the financial statements. Other than these matters, the Trustees are not aware of any material uncertainites about the charity's ability to continue as a going concern.
## **Risks and future assumptions**
The charity is a public benefit entity. There are known risks which a small charity with no employees can be exposed to. The trustees have reviewed these risks and appropriate procedures are in place to identify, monitor and review these risks on a regular basis.
## _**Policies relating to categories of income and income recognition.**_
## **Nature of income**
Gross income represents the value, net of value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
## **Categories of Income**
Income is categorised as income from exchange transactions (contract income) and income from nonexchange transactions (gifts), investment income and other income.
13
## **KICC Kingdom Harvest**
## **Notes to the accounts for the year ended 31 March 2023**
**Income from exchange transactions** is received by the charity for goods or services supplied under contract or where entitlement is subject to fulfilling performance related conditions. The income the charity receives is approximately equal in value to the goods or services supplied by the charity to the purchaser.
**Income from a non-exchange transaction** is where the charity receives value from the donor without providing equal value in exchange, and includes donations of money, goods and services freely given without giving equal value in exchange.
## **Income recognition**
Income, whether from exchange or non-exchange transactions, is recognised in the statement of financial activities (SOFA) on a receivable basis, when a transaction or other event results in an increase in the charity’s assets or a reduction in its liabilities and only when the charity has legal entitlement, the income is probable and can be measured reliably.
Dividends are accrued when the shareholder’s right to receive payment is established.
Income subject to terms and conditions which must be met before the charity is entitled to the resources is not recognised until the conditions have been met.
All income is accounted for gross, before deducting any related fees or costs.
## _**Policies relating to expenditure on goods and services provided to the charity.**_
## **Recognition of liabilities and expenditure**
A liability, and the related expenditure, is recognised when a legal or constructive obligation exists as a result of a past event, and when it is more likely than not that a transfer of economic benefits will be required in settlement, and when the amount of the obligation can be measured or reliably estimated.
Liabilities arising from future funding commitments and constructive obligations, including performance related grants, where the timing or the amount of the future expenditure required to settle the obligation are uncertain, give rise to a provision in the accounts, which is reviewed at the accounting year end. The provision is increased to reflect any increases in liabilities and is decreased by the utilisation of any provision within the period and reversed if any provision is no longer required. These movements are charged or credited to the respective funds and activities to which the provision relates.
## **Volunteers**
In accordance with the SORP, and in recognition of the difficulties in placing a monetary value on the contribution from volunteers, the contribution of volunteers is not included within the income of the However, the trustees value the significant contribution made to the activities of the charity by unpaid volunteers and this is described more fully in Note 6.
14
## **KICC Kingdom Harvest**
## **Notes to the accounts for the year ended 31 March 2023**
## _**Policies relating to assets, liabilities and provisions and other matters.**_
## _**Tangible fixed assets**_
Tangible fixed assets are measured at their original cost value, or subsequent revaluation, or if donated, as described above. Cost value includes all costs expended in bringing the asset into its intended working condition.
Depreciation has been provided at the following rates in order to write off the assets to their anticipated residual value over their estimated useful lives.
Equipment furniture 33% straight line Computer equipment 33% straight line
## **Debtors**
Debtors are measured at their recoverable amounts at the balance sheet date.
## **Creditors and provisions**
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
## **Financial instruments including cash and bank balances**
Cash held by the charity is included at the amount actually held and counted at the year end. Bank balances, whether in credit or overdrawn, are shown at the amounts properly reconciled to the bank statements.
## **Fund Accounting**
General funds are unrestricted funds which are available for use at the discretion of the trustees in furtherance of the general objectives of the church and which have not been designated for other purposes.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the church for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.
There are no endowment funds.
## **2 Liability to taxation**
The Trustees consider that the charity satisfies the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 for UK corporation tax purposes. Accordingly, the Charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by chapter 3 part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively on the specific charitable objects of the charity and for no other purpose. Value Added Tax is not recoverable by the charity and is therefore included in the relevant costs in the Statement of Financial Activities. may need rewording, especially if the charity is registered for VAT
15
## **KICC Kingdom Harvest**
## **Notes to the accounts for the year ended 31 March 2023**
## **3 Winding up or dissolution of the charity**
If upon winding up or dissolution of the charity there remain any assets, after the satisfaction of all debts and liabilities, the assets represented by the accumulated fund shall be transferred to some other charitable body or bodies having similar objects to the charity.
## **5 Net surplus before tax in the financial year**
|The net surplus before tax in the financial year is stated after charging:-
Depreciation of owned fixed assets|**2023**
**2022**
**£**
**£**
715
427|
|---|---|
## **6 The contribution of volunteers**
The charity depends on the support of its volunteers, which is much appreciated. The charity had 112 Volunteers who donated 1,847 hours of their time stewarding events. Other volunteers undertook 40 hours of mailings and distributions and two specialist volunteers with DBS checks, spent 475 hours a year supporting the weekly children’s and young people’s writing groups. It is estimated that without the help of volunteers, the festival would need to find the equivalent of over £20,000 to obtain similar services. The arrangements with volunteers are difficult to value precisely in monetary terms and have not been recognised in the Statement of Financial Activities. The volunteers and the charity accept and agree that no contract of employment is created by these arrangements.
## **7 Tangible fixed assets**
|**_Current Year_**
**Cost**
At 1 April 2022
Additions
**At 31 March 2023**
**Depreciation**
At 1 April 2022
Charge for the year
**At 31 March 2023**
**Net book value**
**At 31 March 2023**
**At 31 March 2022**|**Land and**
**Buildings**
£
-
-|**Equipment**
**& furniture**
£
369
3,195|**Computer**
**equipment**
**Total**
£
£
1,028
1,397
-
3,195
**1,028**
**4,592**
1,026
1,281
2
715
**1,028**
**1,996**
**-**
**2,596**
**2**
**116**|
|---|---|---|---|
||**-**|**3,564**||
||-
-|255
713||
||**-**|**968**||
||**-**|**2,596**||
|||||
||**-**|**114**||
16
## **KICC Kingdom Harvest**
## **Notes to the accounts for the year ended 31 March 2023**
## **8 Debtors**
|Prepayments and accrued income
Other debtors
**9**
**Creditors: amounts falling due within one year**
Accruals
Other creditors
**10 Income and expenditure account summary**
**At 1 April 2022**
Surplus after tax for the year
**At 31 March 2023**|**2023**
**2022**
**£**
**£**
843
843
4,188
4,188
**5,031**
**5,031**
**2023**
**2022**
**£**
**£**
600
600
280
280
**880**
**880**
**2023**
**2022**
**£**
**£**
105,687
88,117
36,623
17,570
**142,310**
**105,687**|
|---|---|
## **11 Particulars of how particular funds are represented by assets and liabilities**
|**At 31 March 2023**
Tangible Fixed Assets
Current Assets
Current Liabilities
**At 1 April 2022**
Tangible Fixed Assets
Current Assets
Current Liabilities|**Unrestricted **
**funds**
**£**
2,596
106,452
(880)|**Designated**
**funds**
**£**
-
-|**Restricted**
**Total**
**funds**
**funds**
**£**
**£**
-
**2,596**
-
**106,452**
-
**(880)**
**-**
**105,688**
**Restricted**
**Total**
**funds**
**funds**
**£**
**£**
-
**116**
-
**88,454**
-
**(880)**
**-**
**105,688**|
|---|---|---|---|
||**105,688**|**-**||
||**Unrestricted **
**funds**
**£**
116
88,454
(880)|**Designated**
**funds**
**£**
-
-
-||
||**105,688**|**-**||
17
## **KICC Kingdom Harvest**
## **Notes to the accounts for the year ended 31 March 2023**
## **12 Change in total funds over the year as shown in Note 11 , analysed by individual funds**
|**Funds**
**brought**
**forward**
**from 2022**
**£**
**_Unrestricted and designated funds:-_**
Unrestricted Revenue Funds
105,688
**Total charity funds**
**105,688**
**13 Analysis of movements in funds over the year as shown in**
**Income**
**2023**
**£**
**_Unrestricted and designated funds:-_**
Unrestricted revenue funds
68,229
**68,229**|**Funds**
**brought**
**forward**
**from 2022**
**£**
105,688|**Movement**
**in funds in**
**2023**
**£**
36,623|**Funds**
**carried**
**forward**
**to 2024**
**£**
**£**
**-**
**142,311**
**-**
**142,311**
**Other**
**Gains &**
**Movement**
**Losses**
**in funds**
**2023**
**2023**
**£**
**£**
-
**36,623**
**-**
**36,623**
**Transfers**
**between**
**funds in**
**2023**|
|---|---|---|---|
||**105,688**|**36,623**||
|||**Note 12**
**Expenditure**
**2023**
**£**
(31,606)||
||**68,229**|**(31,606)**||
18
## **KICC Kingdom Harvest**
**Detailed analysis of income and expenditure for the year ended 31 March 2023 as required by the SORP 2015**
## _**This analysis is classified by conventional nominal descriptions and not by activity.**_
## **14 Donations, grants and legacies**
|**Donations, grants and legacies**||||
|---|---|---|---|
|**Donations and gifts from individuals**
**Total donations and gifts from**
**individuals**
Small donations individually less than|**Current year **
**Unrestricted**
**funds**
**2023**
**£**
68,229|**Current year**
**Restricted**
**funds**
**2023**
**£**
-
**-**|**Current year**
**Prior year**
**Total funds Total funds**
**2023**
**2021**
**£**
**£**
**68,229**
43,049
**68,229**
**43,049**|
||**68,229**|||
## **15 Expenditure on charitable activities - Direct spending**
|**_Current year_**
Honorarium
Event
Mission
Music
**Total direct spending**|**Current year **
**Unrestricted**
**funds**
**2023**
**£**
7,284
204
-
648|**Current year**
**Restricted**
**funds**
**2023**
**£**
-
-
-
-
**-**|**Current year**
**Prior year**
**Total funds Total funds**
**2023**
**2021**
**£**
**£**
**7,284**
**100**
**204**
**452**
**-**
**5,200**
**648**
**1,804**
**8,136**
**7,556**|
|---|---|---|---|
||**8,136**|||
19
## **KICC Kingdom Harvest**
## **Detailed analysis of income and expenditure for the year ended 31 March 2023 as required by the SORP 2015**
|**16**
**_Current year_**
**_Premises expenses_**
Service charges payable
Rates and water charges
Rent
Light heat and power
**_Administrative overheads_**
Telephone, fax and internet
Stationery and printing
Zoom
Subscriptions
Equipment expenses
Software licences and expenses
Advertising and marketing
Liability and contents insurance
Sundry expenses
**_Professional fees paid to advisors other_**
Other legal and professional
Depreciation
**Total support costs - Current year**
**17 Other expenditure - Governance costs**
**_Current year_**
Independent examiner's fees
**Total governance costs**
Equipment, repairs, expenses and
maintenance
**Support costs for charitable activities**|**Current year Current year**
**Unrestricted**
**funds**
**Restricted**
**funds**
**2023**
**2023**
**£**
**£**
13
-
4,824
-
2,804
-
329
-
282
-
411
-
496
-
1,045
-
658
-
682
-
-
-
431
-
-
-
-
-
**_than the auditor or examiner_**
-
-
715
-
**12,690**
**-**
**Current year Current year**
**Unrestricted**
**funds**
**Restricted**
**funds**
**2023**
**2023**
**£**
**£**
600
-
**600**
**-**|**Current year**
**Prior year**
**Total funds Total funds**
**2023**
**2021**
**£**
**£**
**13**
**-**
**4,824**
**3,426**
**2,804**
**2,493**
**329**
**-**
**282**
**2,439**
**411**
**213**
**496**
**-**
**1,045**
**-**
**658**
**-**
**682**
**-**
**-**
**441**
**431**
**421**
**-**
**612**
**-**
**150**
**-**
**394**
**715**
**427**
**12,690**
**11,016**
**-**
**Current year**
**Prior year**
**Total funds Total funds**
**2023**
**2021**
**£**
**£**
**600**
**600**
**600**
**600**|
|---|---|---|
||**12,690**||
||**Current year **
**Unrestricted**
**funds**
**2023**
**£**
600||
||**600**||
All the expenditure in the prior year was unrestricted.
20
## **KICC Kingdom Harvest**
**Detailed analysis of income and expenditure for the year ended 31 March 2023 as required by the SORP 2015**
## **18 Total charitable expenditure**
|**Total charitable expenditure**||||
|---|---|---|---|
|**_Current year_**
Total direct spending
Total grantmaking costs
Total support costs
Total governance costs
**Total charitable expenditure**|**Current year **
**Unrestricted**
**funds**
**2023**
**£**
8,136
10,180
12,690
600|**Current year**
**Restricted**
**funds**
**2023**
**£**
-
-
-
-
**-**|**Current year**
**Prior year**
**Total funds Total funds**
**2023**
**2021**
**£**
**£**
**8,136**
**7,556**
**10,180**
**6,307**
**12,690**
**11,016**
**600**
**600**
**31,606**
**25,479**|
||**31,606**|||
All the expenditure in the prior year was unrestricted.
21