2020-12-31-accounts

		Page
Trustees' report		1-9
Statement oftrustees'	responsibilities	10
Independent auditor's	report	11-14
Statement offinancial	activities	15
Balance sheet		16
Statement ofcash flows		17
Notes to the financial	statements	18-30

					Unrestricted	Restricted	Total 2020
income					51,086,938	5521,007	51,607,945
xpenditure					(5139,391)	(5216,637)	(5356,028)
Less net assets	transferred		from	unincorporated	(5847,303)	(5250,034)	(F1,097,337)
charity
Transfers					530,000	(630,000)
Actual operational		results			5130,244	524,336	5154,580

Charity number	Charity number		1183216
Governing	document		CIO - Association registered		1 May 2019
Trustees			Mr D Wood
			MrJW Wright
			Mr P Marshall
Key management		personnel	David Edwards	- Lead Pastor
			Faye Edwards - Associate Lead Pastor and Jesus Cares
			Project Co-ordinator
			Hayley Corley -	PA and Office Manager
Principal	office		Kings Church Administrative		Office
			71 Lower Dock	Street
			Newport
			NP20 1EH
Bankers			Barclays Bank PLC
			14Commercial	Street
			Newport
			NP20 1HE
Auditors			Azets Audit Services
			Ty Derw
			Lime Tree Court
			Cardiif Gate Business Park
			Cardiff
			CF23 8AB
Solicitors			Harding Evans
			Queens Chambers
			2 North Street
			Newport
			NP20 1TE

					Unrestricted	Restricted	Total	Total
					funds	funds
					2020	2020	2020	2019
				Notes		6		6
Iouunafotm.
Donations and	legacies			3	1,079,095	250,034	1,329,129
Charitable activities				4	2,500	270,973	273,473
Other trading activities				5	4,922		4,922
Investments				6	421		421
Total income					1,086,938	521,007	1,607,945
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Charitable activities				7	139,391	216,637	356,028
Net Incoming	resources		before transfers		947,547	304,370	1,251,917
Gross transfers		between	funds		30,000	(30,000)
Net income for		the yearl
Net movement		in funds			977,547	274,370	1,251,917
Fund balances	at 1 January 2020
Fiind balanoeS		at 31Deoentber 2020			977,547	274,370	'l,251,9'l7

						2020	2019
			Notes			8	8
Fixed assets
Tangible assets						1,040,059
Current assets
Debtors				12		36,505
Cash at bank and in	hand					452,704
						489,209
Creditors: amounts	falling	due within
one year				13		(33,076)
Net current assets						456,133
Total assets less current liabilities						1,496,192
Creditors: amounts	falling	due after
more than one year				15		(244,275)
Net assets						1,251,917
Income funds
Restricted funds				17		274,370
~nr ~tri ad funds
Designated funds				18		807,820
General unrestricted	funds					169,727
						977,547
						1,251,917
Tl 9 W t t	t	rp	dbyth	T	i	..I.'9./!t.j~

					2020	2019
				Notes	6	5	g
Cash flows from operating	activities
Cash generated from/(absorbed		by)		22
operations					1,255,824
Investing activities
Purchase oftangible fixed assets					(19,433)
Assets transferred from unincorporated
charity					(1,052,743)
Investment income received					421
Net cash used in investing	activities				(1,071,755)
Financing activities
Loan transferred from unincorporated			charity		293,259
Repayment of bank loans					(24,624)
Net cash generated from/(used		in)
financing activities					268,635
Net increase in cash and cash		equivalents			452,704
Cash and cash equivalents	at beginning			ofyear
Cash and cash equivalents	at end of			year	452,704

Donations	and legacies
			Unrestricted	Restricted	Total	Total
			funds	funds
			2020	2020	2020	2019
			8	6	6
Donations	and gifts		1,079,095	250,034	1,329,129
Donations	and gifts
Tithes and	olferings		179,965		179,965
Gift aid			31,525		31,525
Donations			5,302		5,302
Legacy			15,000		15,000
Transfer from unincorporated		charity to CIO	847,303	250,034	1,097,337
			1,079,095	250,034	1,329,129

					2019
				2020
				6
	Grants			270,973
	Events			2,244
	Other income			256
				273,473
	Analysis	by	fund
	Unrestricted		funds	2,500
	Restricted funds			270,973
				273,473
	Grants
	Coronavirus		Job Retention Scheme	47,301
	Big Lottery		Fund	208,672
	Awards	For	All Wales	10,000
	Newport	City Council		5,000
				270,973
5	Other trading activities

	Unrestricted	Total
	funds
	2020	2019
	6	F
Bookshop income	22
Rental income	4,900
Other tradiBg activ'ifies	4,922

				Unrestricted	Total
				funds
				2020	2019
				6	6
	Interest receivable			421
7	Charitable activities
					2019
				2020
				6
	Staffcosts			122,212
	Depreciation	and impairment		32,117
	Jesus Cares	Project		90,339
	Mission donations			5,100
	Event costs			22,300
	Premises costs			27,777
	Administration	costs		7,914
	Advertising			112
				307,871
	Share ofsupport costs (see note 8)			42,457
	Share ofgovernance		costs (see note 8)	5,700
				356,028
	Analysis by	fund
	Unrestricted	funds		139,391
	Restricted funds			216,637
				356,028

8	Support costs
		Support	Govemaiice	2020	Siip'poit	Govemahce	2019
		costs	costsf		costs f	costs E
	Stalf costs	30,553		30,553
	Bank &loan interest	10,628		10,628
	Bank charges	1,276		1,276
	Audit fees		5,700	5,700
		42,457	5,700	48,157
	Analysed between
	Charitable activities	42,457	5,700	48,157

	2020	2019
	Number	Number
Employment costs	2020	2019
	0	E
Wages and salaries	141,771
Social security costs	8,003
Other pension costs	2,991
	152,765

Tangible fixed assets
			Freehold land	Fixtures and Motor vehloles		Total
			aod buildingsf	tlttlngs
Cost or valuation
Additions				19,433		19,433
Net book value transferred		from unincorporated
charity			1,035,936	4,083	12,724	1,052,743
At 31 December 2020			1,035,936	23,516	12,724	1,072,176
Depreciation and impairment
Depreciation charged	in the	year	24,251	3,848	4,018	32,117
At 31 December 2020			24,251	3,848	4,018	32,117
Carrying amount
At 81 December 2020			1,011,686	19,668	8,706	1,040,059

Debtors	Debtors
Amounts falling due within one year:		2020f	2019f
Trade debtors		225
Other debtors		30,275
Prepayments	and accrued income	6,005
		36,505

13	Creditors: amounts	falling due within one year
				2020	2019
			Notes	5	6
	Bank loans		14	24,360
	Trade creditors			313
	Accruals and deferred	income		8,403
				33,076
14	Loans and overdrafts
				2020	2019
				6	6
	Bank loans			268,635
	Payable within one year			24,360
	Payable after one year			244,275

Credi	tors: amounts falling due after	more than one year
			2020	2019
		Notes	6
Bank	loans	14	244,275

			Movement
			in funds
			Incomlns	Balance st	Transfers	Balance at
			resourcest	January 2020		$1 December
						2020f
Fixed	asset	fund			807,820	807,820
					807,820	807,820

22	Cash generated	from operations	from operations					2020f	2019 6
	Surplus for the year							1,251,917
	Adjustments for:
	investment income recognised		in statement		offinancial	activities		(421)
	Depreciation and	impairment	oftangible fixed assets					32,117
	Movements in working capital:
	(increase) in debtors							(36,505)
	Increase in creditors							8,716
	Cash generated	from/(absorbed		by) operations				1,255,824
23	Analysis ofchanges in net funds
							Transferred	Cash flows	At 31December
									2020
									5
	Cash at bank and	in hand					308,224	144,480	452,704
	Loans falling due	within one year					(23,051)	(1,309)	(24,360)
	Loans falling due	after more than one year					(270,208)	25,933	(244,275)
							14,965	169,104	184,069