Oowsign Envel ID". 51865B5&AF1fA5FE-AF9E-936TkF70ABFC REGISTERED COMPANY NUMBER: 1184180 (England and Walosl REGISTERED CHARITY NUMBER: 1184180 REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 FOR KING'S CHURCH. HIGH WYCOMBE Seymour Taylor Limited. Ststutr)ry Auditor First Floor North 40 Oxford Road High Wcombe Buckinghamshire HP112EE
Oowsign Envel ID". 51865B5&AF1fA5FE-AF9E-936TkF70ABFC KING'S CHURCH, HIGH WYCOMBE REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2024 The trustees who are also directors of the charty for the purpose5 of the Companies Act 20C6, present their port wth the financial statements of the chanty for the year ended 31 August 2024. The trustees have adopted the provisions ol Accounting and Reporting by Char.e$.. Statement of Recommended Practice applicable lo char.e$ pparIng their accounts in a¢cordan¢e bvrth the Financial Reportin9 Standard applicable in the UK and Republic of Ireland {FRS 102) (effeth've 1 January 20191. The charitable company was incorporated on 1 Juty 2019 and ts operations commenced in September 2019 wrth the transfer of assets, liabilrties and ath"vib"es from the unincorporated associab"on. The King's Church High Wcombe. OBJECTIVES AND ACTNITIES Obj8ctivas and aims King's Church. High Wcombe is established by a constitution dated 8 April 2019. The object of the church is the athancement of the Chrisban farth, sthich is achieved primarity by members presenting the Christian gospel each week in church meetings open to all. In setting our objectives and planning our activits'es our trustees have given careful con$tiOn to the Chanty CommissK)n's general guidance on public benefrt. STRATEGIC REPORT Achi8v8m8nt and perforniance Charltsblè actlvltOo8 The activities ol the church are concentrale(l at the KitvJ's Cenlre arxl the aim of the church is to spread the gospel message locally, natsonalty and globally. The Sunday moming meetings draw people from a wide range of nalionalilies and cuttu5 th numbers of atlendees growng. One Sunday service per week is livestreamed to accommodate members who could not attend the in'person meets'ngs" and as an accessible way for non-church members lo expenen¢e church Whe they are. The church conts.nues Ihnving work amongst children and young peOe both on Sundays and during the week. During the year the ¢hur¢h ran a youth weekend away alongside other local churches. and took over 50 young peoplè to the week-long Newday Christian youth festival in the $ummer al vthi¢h many young people grew in their farth. Globally the church is invofved in a number of ovwseas missions Iru1n9 Nepal, Middle East and North Afn'ca. Support has been given both financially and through Olne coMmunition. The leaders visited some of these missions during the year pported by a group ol church membern. Locally the church has conbnued to offer support lor single parents, families with babies & toddlers, students. homeless and exploited people. The ¢hur¢h suPpts One Can Foodbank. and CAP Debt Relief Centre helps those with overwhelming debt. We have seen an increase in guests at 'King's Table,, our outreach work that helps those struggling wth home$$ne$S and affected by lrfe-conlrolling addictions. by providing weekly meals and support. Chosen is a reglstered CIO launched by ihe church that supports women caught up in commercial Sexual eXOItation through 51reel outreach and rt conts.nues lo receive financial and other support from the church. The church runs free Leaming English dasses that helps women for whom English is a second or third language. These dasses are very [lar arKI are helping to bring relief lo women who are otherwise relats'vely isol*ed in society.
Oowsign Envel ID". 51865B5&AF1fA5FE-AF9E-936TkF70ABFC KING'S CHURCH, HIGH WYCOMBE REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2024 STRATEGIC REPORT Financial raviaw Reserves policy The reserves policy is based on contr3t#ual Mmthents particularly in respect of employees. The policy is targeted at the cost of 3 months notice periods. This is currenoy around £160,000. Any surplus in reserves will mainly be held for luture caprtal projects. The Trustees a encouraged by the Charrty's finanual posib.on over the year with income slightly up by 3.42% on the previous year desprte the ongoing pressure that the increased cost of living is having on our donors. Expenditure is up by 7.62'A bLrt notsbly in the area of social acb.on which is a key focus for the church. The result is a larger deficrt of £81,916 than the previous year but Ihe church's fiJThJs remain strong. Annual Pay Review The leadership and staff pay leve15 are e5tabli5hed wth refererte to a number of benchmarks.. These are.'- the annual inflation rate. other pay awards in industry eSalty the NHS and teachers pay, and finally taking account of the operational aspect5 such as grchyih and financAd performance of the charty. The Trustees are responsible for setting the annual pay award. STRUCTURE. GOVERNANCE AND MANAGEMENT Goveming documont The charty is controlled by its goveming (J¢xumenl. a deed of trust, and constrtutes a limrted company, limited by guarantee, as defined by the Companies Act 20C6. R•crultment and appolnlrnent of nowtrusto08 The Trustees are empowered to appoint and discharye trustees by resolub.on al a meeting. The Iruslees served Ihroughoui the year are Shown below. The respon$ibilrt)&s for the day to day manag&ment of ts church is delegated lo the seni¢y leadership team as listed below.. J Harbour R Horne R Lodge R Wainman Senior Pastor Associate Past Associate Pastor Iregned 21 January 2024) Associate Pa$lc Rbsk manag8m•nt The trustees have ensured that sufficient Insuran is in place to cover re•building costs and public liability. Fire and Security systems a tesle<l and maintained 9LarlY and the condition of the buildings vieWed ce•yearty. Destrucb'on or major damage to the Kings Centre through fire or other means is seen to be a major risk. To mitigate the damage the charrty ensures that il complies wth all requirements of the fire offir and is fully insured. The disaster recovery plan would require the main meeting being temporarily transferred to an allernalive sile and allemalive offices would nted. The risk of fraud is addse<l by imementing a cash handling predu and the issue of wular income and expendrture reports. The $ystems are backed up regulady to different kKations on site and work is undetway lo move to a system of backing up off srce to the doud. REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number 1184180 (England and Wales)
Oowsign Envel ID". 51865B5&AF1fA5FE-AF9E-936TkF70ABFC KING'S CHURCH, HIGH WYCOMBE REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2024 Registered Charity number 1184180 Rggistsr8d office The King's Centre De5borough Road High Wycombe Buckingham5hire HP112PU Trustees P A Chipping P T Gibbin$ (Chairl H Hedges T l Olowoloba I C Stokoe R Wainman M D Wells Auditors Seymour Taylor Limrted, StatLrtory Audrtor First Floor North 40 Oxford Road High Wcombe 8uckingham$hire HP112EE Prof&s$lonal Advlco The charity takes profe$$ional advice from its a(Klitors Seymour Tayky on matters wncerning the ¢harty and has In the past taken legal advice from 8roYms in High COrnbe. New property solicitors would be idèntified by the chanty in respect ol propety issues as Br¢)wns 1$ no longer in bu$iness. Other legal matters regarding the Trust deed and the establishment of the charrtable irKorfftled organisation have previousty been handled by Anthony Collins Soliators LLP. 8imingham. STATEMENT OF TRUSTEES, RESPONSIBIUTIES The trustees (who are also the directors of King's Church. High COMbe for the purposes of Company lawl are responsible for preparing the Report of the Trustees and the financial stslemenls in accordance with appIlble law and United Kingdom A¢wints'ng Standards Iunited Kingdom Generally Accepted AoUntIng Practice). Cornpany law requires the trustees lo prepare finarrial statements for each financial year which give a true and fair view of the slate of affairs of the charrtable company and of the incoming resources and applI110n of resources, including the income and expenditure, of the charitable company lor that period. In preparing those finanaal statements, the trustees are required lo select 5Urtable acc4Junling policies and then appty them con51Stenty; observe the meth(xls and principles in the Charity SORP.. make judgemen15 and estsmates that are reasonable and prudent., slate whetrer applicable accounting stsndar(ls have been followed, subject lo any material departures disclosed and explained in the financial statements., prepare the finanrjal slalemenls on the goiryJ 0Cern basis unless il 15 inappropriate lo presume th81 the charitable company MU ntinUe in business.
Oowsign Envel ID". 51865B5&AF1fA5FE-AF9E-936TkF70ABFC KING'S CHURCH, HIGH WYCOMBE REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2024 STATEMENT OF TRUSTEES. RESPONS181UTIES- continued The trustees are responsible for keeping proper accounb.ng records 1¢h disclose Yh reasonable accuracy at any time the financial position of the chantable company and to enable them to ensure that the finanaal statements compty wlh the Companies Act 2006. They are also responsble for safeguarding the a55ets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregulanties. In so far as the Iruslees are aware.. there is no relevant audr( information of ¥thich the charitable company's auditors are unaware,. and the trustees have tsken am steps that they ought to have taken lo make themselves awa of any levant audrt infonmation and to establish that the auditors are awdre of that infonnats'on. AUDITORS The auditors. Seymour Taykjr Limrted, wll be wppoinled in 8ccorfance section 487121 of the Companies A¢t 2006. Report of the Iruslees. incorporating a strategic port. approved by order of the board of trustees. as the company directors, on ......21..June..2Q2&.............. and signed on the board's behalf by.. P T Gibbins- Trustee
Oowsign Envel ID". 51865B5&AF1fA5FE-AF9E-936TkF70ABFC REPORT OF THE INDEPENDENT AUDoRs TO THE MEMBERS OF KING'S CHURCH. HIGH WYCOMBE Opinion We have audited the finanoal statements of King's Church. HwJh W¢ombe (the '¢haritable company'l for the year ended 31 August 2024 which comprise the Statement of Finanaal Activities, the Balance Sheet, the Cash Fk Statement and notes lo the finanryal statements, including a summary of significant accounting policies. The finanaal repong framework that has been applied in their preparation is applicable law and United Kingdom Accountsng Standards (Unrted Kingdom Generalty Accepted Accounts"ng Practice). In our opinion the finanaal statements.. give a true and fair view of the stste of the charitable c(Nnpanls affairs as at 31 August 2024 and of ils incoming resources and applicalion of resources, includiThJ its income and expenditure, for the year then ended", have been property prepared in accordance Uniled 'r¥jd0M Generally Accepted Accounting Practice,. and have teen preparefj in accordance V1h the requirements ofthe Companies Act 2006. Ba$1$ for opinion Vve conducted our audit In accordance wrth 1ntemab.onal Standards on Auditing IUKI IISAS IUKII and applicable law. Our responsibilities urKler those standar(Js are fvrther deribed in the Auditors, responsibilities for the audit of the financial siatements seth'on of our report. We are independent of the charitable MpanY in a¢cordan¢e bmth the ethic requirements that are relevant lo our audit of the financial ststemenls in the UK, including the FRC'S Ethi¢al Standard, and we have fulfilled our other ethical responsibilities in accordance wth these requirements. We believe that thè audit evidence we have obtained is sufficient and appropriate lo provide a bas for our opinK)n. Conclusions relating to g0Sng concem In auditing the financial statements. we have concluded that the trustees. use of the going concem basis of accounting in the preparation of the financial ststements is apwowie. Based on the work we have perfomed. we have not identified any material uncertainb.es lating to events or condth'ons that, individually or collectively, may cast significant doubl on the chaniable company's ability to continue ag a going coneem for a peri¢)d of at least months fffjm when the finanaal slalements are aulhorised for issue. Our responsibilits'es and the spOnsIbl1rtieS of the tnjstees V1h respect lo going concem are described in the relevant sections of this report. Other InforniaOn The Iruslees are responsible for the other inf0matn. The other infomalion comprises the informth'tsn induded in the Annual Report, other than the finanaal ststents and our Report of the Independent Auditors thereon. Our opinion on the financial statements does rt cover the other information and, except lo the extent OtheSe explicitly slated in our report. we do not exp$$ any form ofassurance conclusion Ihewn. In conneckn'on Yth our audi( of the finanual stslemenls, our SponsIbl11ty is to read Y)e other infom*'on and. in doing so, consider whether the other infomiation is materially inconsistent with the financial statements or our knovledge obtsined in the 8udrt or otherw5e 8ppear5 to be malerialty mi551aled. If we identfy such material inconsistencies or apparent material misstslemenls. we a requi lo determine whether this gives rise to a material misstatement in the finanaal statements themselves. If, based on the work we have perfomed, we conclude that there is a material misstslement of this other infomialion, we are reqUId to report that fact We have nothing to rem in this regard. Opinions on other matter5 prescribed by the Companies Act 2006 In our opinion, based on the work undertaken in the course of the audrt. the information given in the Report of the Trustees for the finarrial year for vthich the financial statements are prepared 15 con51slenl wrth the finanaal stslements." and the Report ofthe Tnjstees has been prepared in accordance appliCae legal requirements.
Oowsign Envel ID". 51865B5&AF1fA5FE-AF9E-936TkF70ABFC REPORT OF THE INDEPENDENT AUDoRs TO THE MEMBERS OF KING'S CHURCH. HIGH WYCOMBE Mattern on wfiich are required to report by exception In the light of the knovAedge and understsnding of the ¢harrtable company and its environment obtained in the course of the audr(, we have not identified material misstatements in the Report of the Trustees. We have nothing to report in respect of the folkwng matters vthere the Companies A¢t 2006 requires us to report lo you if, in our opinion.. adeque a¢¢ounling COrdS have not been kept or tumS adequate for our audit have not been received from branches not wsffed by us., or the financial statements are not in agreement the acLounb"ng reco1$ an(1 retums." or certain disclosures of trustees, remuneration specified by law are not made,. or we have not received all the inlormabon and expLAnab"ons we requi for our audrt. R¢sponslbllltl•s of trust$ As explained more fully in the Statement of Trustees. Responsibilths. the trustees (who are also the directors of the charrtable company lor the purposes of company lawl are responsible for the preparthon ol the finanaal statements and for being satisfied that they give a true and fair wew, and for such intemal control as the trustees determine is necessary to enable the preparan of financAal statemen15 that ire free from material misslalemenl. whether due lo fraud or error. In preparing the financial stalemenls, the trustees are spOnSible for assessing the charitable company's ability to continue a$ a going concem, disdo$ing, a$ applicable, matters reLated to g¢ing nCeM and using the going concern ba51s of accounting unless the tnJstees erther intend lo liquidate the charrtable company or to cease operations. or have no realists'c allemalive bul to ¢Jo so. Our rnsponsibillti8s forthe aud5t of the financial statem8nts Our objectives are to obtain reasonab assurance about vthelher the financA41 statements as a whole are free from material misstslemenl, vthethef due lo fraud or e(ror. and lo issue a Repty1 of the Independent Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audrt conducted in accordance Nwth ISAS IUKI will aayS delect a material misstslemenl when il exists. Misstatements can arise from fraud or error and are nsidered material if. individually or in the aggregate, they could reasonabty be expected to infiuence the ecknnomic deasions of users tsken on the basis of these finanoal statements. The extent lo which our prttedures are capable of deleth.ng iryegulanties, induding fraud is detailed below." Identlfylng and as$e$$lng potenual rl$k¥ related to IrYggularltle$ In identifying and assessing risks ol material misstatement in respect of irregularib'es, including fraud and non-¢tsmplian¢e wlh laws and regulations. we considered Ihe followng". - the nature ol the industry and sector. control environment and business perfomiance., results of our enquine5 of management about their own identification and assessment of the risks of irregularilie$,' any matters we identified in respect of the Company's documentab'on of their policAes and procedure5 relating lo-. identifying, evalu'ng and comptying laws and regulations and whether they were aware of any instsnces of non-compliance". - detecting and responding to the risks of fraL*J and vthelher they have knthedge of any actual, suspected or alleged fraud", - the internal controls estsblished to mitigale risks of fraud or now0mplian wlh laws and regulations." the matters discussed among the audrt eThJagement team and involving relevant internal spea'alists, induding lax gardIng how and Whe fra1 might (K(xJr in the finanual statements and any potential indicators of fraud. As a result of these procedures, we considered the opportunth'es and incentives that may exist within the organisation for fraud. In common wth all audts under ISAS (UK), we are a150 required to perfomi specrfic procedures to respond to Ihe risk of management override.
Oowsign Envel ID". 51865B5&AF1fA5FE-AF9E-936TkF70ABFC REPORT OF THE INDEPENDENT AUDoRs TO THE MEMBERS OF KING'S CHURCH. HIGH WYCOMBE We also obtained an understanding of the legal and regulatory framew)rks that the Company operates in, focusing on provisions of those laws and regulations that had a direct effect on the deteminab.on of material amounts and disdo$u$ in the finawal ststements. The key laws and regulations we o)nsidered in this contexi included the UK Companies Act and Ic1 tax legislation. In addition, we considered provisions of Olher laws and regulations that do not have a direct effect on the finanrjal statements bul Comlance vth may be fundamentsl to the Company's ability to operate or to avoid a material penaty. Audit response to risks identified As a result of performing the above. idenlrfd menue defenals as 8 key audit matter related lo the potents'al risk of fraud. The key audit matters seth'on of our report explains the matter in more detail and also describes the specific procedures we perfomied in response lo that key audrt matter. Our procedures to Spond to risks identified included the follon9'. reviewing the financial statement disclosure5 and lesling lo supporting documenlab.on to assess compliance with provisions of levant laws and regulations describe(l as having a dI¢t effect on the finanaal statements., enquiring of management conceming actual and potenb.al lib"gab"on and daims., perfoming analytical procedures lo identify any unusual or unexpected reL4tionships that may indice risks of material misslalemenl due to fraud., obtained an understsnding of provigons and held discussions th management lo understand the basis of recognition or noTrrecognition of tax provisions., and in addressing the risk ol fraud through management overThJe of controls. testing the appropriateness of journal entries and other adjustments,. assessing whether the judgements made in making accounting estsmates are indi¢alive of a wlenlial bAs". and evaluatsng the busness rats"Ona of any significant transactions that are unusual or outside the nornal course ol busiress. We also communicated revant identsfied laws and regul*'L$ and polenlj'al fraud risks lo all engagement team members including internal specialists and signfficant component audrt teams, and remained alert to any indications of fraud tx noncomFAiance bwth laws and regvlations throughout the audit. A further description of our responsibilities for the audit of the finanaal Statements is Ictaled on the Finanaal Reporting Counal's websrte al wm.frc.org.uklaudrtorsresponsibile$. This de$¢ription fomis part of our Report ofthe Independent AudrtOTS. Uso ol our r•port This report is made sdely to the charitable companYs members. as a body. in accordance wlh Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might State to the charitable company's members those matters we a requiie(I lo stale lo tr+em in an audilL)rs' report and for no other purpose. To the fullest exient permrtted by law, we do not accept or assume responsibility to anyone other than the charrtable wmpany and the ¢harrtable company's members as a btray, for our audit work, for this report, or for the opinions we have fomied. Elizabeth Horton FCA FCCA Isenior Statulory Auditor) for and on behaw ol Seymour Taylor knmited, Statutory AudTior First Floor North 40 Oxford Road High Wcombe Buckinghamshire HP11 2EE 29 June 2025 Dale".
Oowsign Envel ID". 51865B5&AF1fA5FE-AF9E-936TkF70ABFC KING'S CHURCH, HIGH WYCOMBE STATEMENT OF FINANCIAL AcTIVlEs FOR THE YEAR ENDED 31 AUGUST 2024 31.8.24 Total nds 31.8.23 Total funds Unrestricted funds Restricted fiJnd5 Notes INCOME AND ENDOWMENTS FROM Donations and legacies 921,305 130,083 1,051,388 1,020,476 Investsnenl income Other income 3.322 4,277 3.322 4,277 2,791 725 Total 928,904 130.083 1.058,987 1,023.992 EXPENDITURE ON Charitsblè a¢ti¥ltlo5 Outreach and youth work Pastoral and church actIve3 Social action Overseas missKJns 75,567 812,064 44,638 54,313 90.176 120,205 866,377 90.176 64,145 141,262 852,988 21,231 44,633 64,145 Total 951,776 189,127 1.140,903 1,060,114 NET INCOMEIIEXPENDITUREI Transfer5 betwpen funds {22.8n) {11.9311 159.0441 11,931 IB1.9161 138,1221 14 Ntt movèment In funds {34.803) 147,1131 181,9161 136,1221 RECONCIUATION OF FUNDS Total funds brought foard 1.646.293 1 S8.415 1.804,708 1,840.830 TOTAL FUNDS CARRIED FORWARD 1,611.4 111,302 1.722.792 1,804,706 The note5 form part of these financial statements
Oowsign Envel ID". 51865B5&AF1fA5FE-AF9E-936TkF70ABFC KING'S CHURCH, HIGH WYCOMBE BALANCE SHEET 31 AUGUST 2024 31.8.24 Total nds 31.8.23 Total funds Unrestricted funds Restricted fiJnd5 Notes FIXED ASSETS Tangible assets 1.347,218 16,942 1,364,160 1,373,214 CURRENT ASSETS Debtors Cash al bank 12 12,897 313,094 12.897 407,454 18,216 467,933 94,360 325.991 94.360 420.351 486,149 CREDITORS Amounts falling due vthin one year 13 {61.719) {61.7191 154,6551 NET CURRENT ASSETS 264.272 94.360 358.632 431,494 TOTAL ASSETS LESS CURRENT LIABIUTIES 1,611.4 111,302 1,722,792 1,804.708 NET ASSETS 1.611,4 111,302 1.722,792 1,804,708 FUNDS Unreslneted funds Restricted funds 14 1,611.490 111,302 1,646,293 158,415 TOTAL FUNDS 1,722,792 1,804,708 The financial statements We approved by the Board of Twslees and auihorised lor issue on .27...June..2O................... and signed on its behalf by.. P T Gibbins- Twstee The note5 form part of these financial statements
Oowsign Envel ID". 51865B5&AF1fA5FE-AF9E-936TkF70ABFC KING'S CHURCH, HIGH WYCOMBE CASH FLOW STATEMENT FOR THE YEAR ENDED 31 AUGUST 2024 31.8.24 31.8.23 Notes Cash flows from operating activities Cash generated from operations 1311 41.619 Nel cash (used inllprovided by operating ath"vrties 1311 41,619 Cash flows from investing activities Purchase of tangible fixed assets Sale ol tangible fixed assets Interest received (68,0471 4.277 3,322 112,4651 1.295 2,791 Net cash used in invesb'ng activibe$ {60.4481 18,3791 Chang8 In cash and cash 8quival8nts In the reportlng rfjod Cash and cash equivalents at the beginning oftho roporting yriod (60.4791 33.240 467,933 434,893 Cash and ¢a$h gqulvalents at tho •nd of th• reportlng porlod 407,454 467.933 The notes fomi part of these financial statements 10
Oowsign Envel ID". 51865B5&AF1fA5FE-AF9E-936TkF70ABFC KING'S CHURCH, HIGH WYCOMBE NOTES TO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 31 AUGUST 2024 RECONCILIATION OF NET EXPENDITURE TO NET CASH FLOW FROM OPERATING ACTIVlnES 31.8.24 31.8.23 Net expenditure for the reporting period las per the Statement of Financial Activities) AdJustm•nts for: Depreciation charges Profrt on disposal of fixed assets Inte$t received Decreasellincrease} in debtors In¢aSe in cre<litors 181,9161 136,1221 77,101 14,2771 13.3221 5,319 7.064 74.645 17251 12.7911 15.7691 12.381 Net cash lused inllprovi<lgd by operntions 41,819 ANALYSIS OF CHANGES IN NET FUNDS At 1.9.23 Cash flow Al 31.8.24 Net cash Cash at bank 467.933 180,4791 407,454 467.933 160.4791 407.454 Totsl 467,933 160,4791 407,454 The notes fomi part of these financial statements 11
Oowsign Envel ID". 51865B5&AF1fA5FE-AF9E-936TkF70ABFC KING'S CHURCH, HIGH WYCOMBE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 ACCOUNTING POLICIES Basis of preparing the financial statements The finanual stslemenls of the charrtable company. vh)ith is a public benefit enlty under FRS 102. have been prepared in accordance wth the Chanties SORP IFRS 1021 'Accounting and Reporting by Charities". Slatemerrt of Recornmended Pracb"ce applicatre lo chanb.es preparing their accounts in accordance with the Financial Reporb'ng StaThJard applicable in the UK and Republic of Ireland IFRS 1021 leffective 1 January 20191., Financjal RepOng Standard 102 'The Financial Reporting Standard appliCae in the UK and Republic of Iland, and the Companies Act 2006. The financial statements have been prepared under the historical c05t convenb"on. King's Church, High Wcombe is a UK charrtable incorporated organisation registered with the Charities Commission in England and Wales. The chanty's principal address is The King's Cenlre. Desborough Road, High Wcombe, Bucks, HP112PU. The registered charity number is 1184180. The presentation currency of these financial statements 1$ Sterling 1£), being the currency of the primary economic market in vthich the entsty operates. AJI amounts in these financial statements have been rounded to the nea$t pound unless stated othemse. The significant ae¢¢unling p¢4itses applied in the preparation of these finanaal stslemenls 8re set out below. These policies have teen wisislentty apklied lo all years presented unless olhetwse slated. The Iwstees have revIev1 and Stress tested proJe¢tion$ and budgets f¢y the next fve months. Followng this review, the trustees cOnser there to be litde impact on the Charity's ability lo act as a going concern. The Iruslees have reviewed the ftjndraising possibil"e$ and the capitsl SoUrceS available and nsider that the tharty ha$ adequate resources in p&¢e lo conts'nue operations for the nexi 1ve months. Critlcal accountlng Judg•monts and koy 8ourc•8 of •stimatlon unc•rtalnty In the application of the company's accounb'ng Oicies. the trustees are required lo make judgements, estimates and assumptions about ihe carryiThJ amount of assets and liabiif(ies that a not readily app3mI from other sources. The eslimales and associated assumptions are based on hisl(>rical experience and other factors thal are COnsered lo be leVant Aciual iesuts may differ from these eslimales. The estsmates and underlying a8MptIOnS are revitr4•rtd on an ongoing basis. Rewsions to aceounling eslimales are cOgnISed in the periiyJ in vthich the e$bmale is rewsed. if the revision affects only that period, or in the period of the revision and fvture periods if the revision affects both current and fvture periods. The aa5 for which eslimalion has been applied a consN*red to be in calculating depreaab"on. Although this area is subject tojudgement, Ihis is not considered to be subject to significant estimation. Incom8 All income is Tecognised in the Statement of Financial Actiwkn'e5 Or the charity ha5 entiljemenl lo the fvnds. il is probable that the income wll be received and the amount Can be measured lIablY. For dt)nab'ons to be recognised the charity wll have been nobfied of the amounts and the settlement date in writing. If there are condth'ons attached lo the donation and this requires a level of perfomiance before ents"demenl can be obtsined then income is deferred unb"I those conditions are fully mel or the fUlIment of those conditj'ons is vthin the control of the chanty and rt is probable that they will be futhlkd. 12
Oowsign Envel ID". 51865B5&AF1fA5FE-AF9E-936TkF70ABFC KING'S CHURCH, HIGH WYCOMBE NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 AUGUST 2024 ACCOUNTING POLICIES- continued Income Investment income is eame(l through hcAding assets for investment purposes such as propety. It indudes interest and rent. Investment income is measured at the lair value of the considerats'on recewed or receivatle, exdLvJing discounts and rebates. ExnditUr Liabilits'es are recognised as expenditure as soon as there is a legal or constructive obligation commith.ng the charity to that expenditure. rt 15 pr()bab that a ts3nsfer of economic benefrts will be required in settlement and the amount of the ot4igabon can be measured reliably. Expendrture is accounted for on an accruals basis and has been cla55ffied under headings that aggregate all cost related to the category. ere Costs nn0t be diredy attn'bute(I lo PacUlar headings they have been allocated to actIv.e$ on a basi5 consistent the use of resources. Grants offered suty'ect lo condrtions %thich have not been met at ihe year end date are noted as commitment bul not a¢¢nJed as expendrture. Allocatlon and apportlonm•nt ofMsts Where costs ¢annot be direclly attributed lo paitilar headings have been alloced to aclwilies on a basis consistent use of the resources. Salaries have been appNtioned in aCrL1rdar the duties lo %thich they relate. Tanglble fixed assots Depciall0n is provided al the followng annual rates in order to write off each asset over ils eslimaled useful lrfe. Freehold propety Fixtures and fittings straight line- 2% straigm line ¢)ver 4 to 7 yea Tangible fixed assets are stated at cost less at1mated depreciation and accumulated impairment losses. Taxatlon The charity is exempt from corporatn tax on its charitable athvitEs. Fund accountln9 Unrestricted funds can be u8e¢J in accordance the chantable objectives at the discretion of the trustees. Reslricied funds can onty be used for parbcular reslricted purposes IMthin the objects of the charity. Restriction5 arise when specffied by the donor or when fvnds are raised for particular restricted purposes. Further explanab.on of the nalure aNJ purpose of each fund is included in the notes lo the financial statements. Pension costs and other postthrntiremont nerrtS The charitable company operes a defined conlribub.on pension scheme. Contn"bub"¢)ns payable lo the d)aritable ¢ompany's pension scheme a Cha to the Slalement of Financial A¢tivrties in the period to which they relate. Financial instruments The ¢harty has applie(I the wovisions of Sethon 11 "Basic Finanual Instruments" and Section 12 "Other Financial Instrument Issues" of FRS 102 to ris financial statements. 13
Oowsign Envel ID". 51865B5&AF1fA5FE-AF9E-936TkF70ABFC KING'S CHURCH, HIGH WYCOMBE NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 AUGUST 2024 ACCOUNTING POLICIES- continued Financial instruments Financial instruments are dasstfied and a¢Vnted for. according lo the substance of the contractual arrangement, as either finanaal assets, finanual Ila.11tieS or equity inslruments. An equity instrument is any contract that evidencs a residual interest In the assets of the charrty after deducb.ng all of ils Trade and other debtors and credito Trade and other debtor5 are recognised inib.ally al tran5ath.on prts less attiibutable transaction costs. Trade and other uedrtors are recognised initially at transacb'on price plus attributable transaction costs. Subsequent to initial recognrtion they are measured at amorb.sed cost using the effective intere51 method. less any impairment losses in the case of traile debtors. If the arrangement constitutes a financing transath'on, for example if payment is deferred beyond nomial business lemis, then il is measured al the psent value of future payments discounted at a Maet rate of interest for a similar debt instrument. Cash and cash equivalents Cash and cash equivalen15 in the stslement of finanual posib.on comprise cash at bank and in hand and short term deposits with an lginal maturity de of three months or less. Bank overdrafts are disclosed wlhin creditors. DONATIONS AND LEGACIES 31.8.24 31.8.23 Gifts Donations Gift aided donations Grants 158.093 136,986 745.949 10,360 188.971 118.357 700.988 12.180 1,051,388 1,020,476 Grants receNed, indudeil in the above, are as Idbvo.. 31.8.24 31.8.23 Bucks Council grant Heart of Bucks Hwcommunty Board 360 10,000 6,180 6,000 10,360 12.160 14
Oowsign Envel ID". 51865B5&AF1fA5FE-AF9E-936TkF70ABFC KING'S CHURCH, HIGH WYCOMBE NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 AUGUST 2024 INVESTMENT INCOME 31.8.24 31.8.23 Interest re¢eivable 3,322 2,791 CHARITABLE ACTIVITIES COSTS Grant fvnding of actiwtses (see note 51 Support costs (see note 61 Direct Costs Totals Outreach and yOLth work Pastoral and church a¢v"e5 Social ath'on Overseas missions 119,117 677,820 71,993 5.889 1.038 49.182 18,043 58,256 50 139,375 140 120,205 866,377 90,176 64,145 874,819 126.519 139,565 1,140,903 GRANTS PAYABLE 31.8.24 31.8.23 Outreach and youth wo Pastoral and church acbvrties Social action Overseas missions 1,038 49,182 18,043 58,256 30.823 28.446 5.042 40.083 126,519 104,394 The lolal grants paid lo institutions during the year was as follows.. 31.8.24 31.8.23 Cornbe Youth for Christ Lighlhtsuse Christians Against Povety Youth Newday Evangelical Wliance Other Love Wcom Nepal One Can Trust Catalyst Central A Ap051 Resonate Chosen One Life Bethany CMM Chur¢h 2,762 1,000 9,000 5,000 700 150 1.000 29,005 3,eOO 1,000 9,000 700 16.025 768 4,800 7,200 19.264 1,650 8,400 12,000 6.000 1.800 1,000 77,817 64,007 15
Oowsign Envel ID". 51865B5&AF1fA5FE-AF9E-936TkF70ABFC KING'S CHURCH, HIGH WYCOMBE NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 AUGUST 2024 GRANTS PAYABLE- continued The total grants paid to individuals during Ihe year vras as folows.. 31.8.24 31.8.23 Grants lo individuals 48,702 40.387 SUPPORT COSTS Govemance costs Staff Finance Totsls Outreach and youth work Pastoral and church acbvities Social action 50 1,577 140 50 139,375 140 126,578 11,220 126,578 1,767 11,220 139,565 NET INCOMEIIEXPENDITUREI Net incomejlexpendilurel is stsled after ¢h8rgintylue¢Jrting}: 31.8.24 31.8.23 Depreciation - owned assets Surplus on disposal of fixed assets 77,101 14,2771 74,645 17251 AUDITORS. REMUNERATION The auditor's remunerats'on amounts to an audit fee of £11.220 12023 £11,220) and payroll services paid lo the audrtor of £1,52312023- £1,470) are induded In legal and professional fees. TRUSTEES, REMUNERATION AND BENEFITS There were no tnJ5tees' remuneration or other benefits for the year ended 31 August 2024 nor for the year ended 31 August 2023. Tru8ts08' •xp8nses During the year ended 31 August 2024 no tnjslees {2023." nil) ineuffed Charitable expenses that we reimbursed by the charity. 16
Oowsign Envel ID". 51865B5&AF1fA5FE-AF9E-936TkF70ABFC KING'S CHURCH, HIGH WYCOMBE NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 AUGUST 2024 10. STAFF COSTS 31.8.24 31.8.23 Wages and salaries Social security costs Other pension costs 558,908 47,920 53,885 527.390 39,703 51,407 660,713 618,500 The average Month number of emrAoyees during the year a5 as follo.. 31.8.24 20 31.8.23 19 Operational and Pastoral The number of emoYeeS whose empbyee beneffts lexduding employer pension $1$> exceeded £60,000 was.. 31.8.24 31.8.23 £60,001- £70,000 Tran¢tIOnS vAth key managemènt ptrrnonn•l 2024 2023 Totsl compensaty'on of key management person 211,130 238,814 11. TANG18LE FIXED ASSETS Fixtures and fitbngs Freehdd prope Totsls COST At 1 September 2023 Additions Disposals 1.565,626 473,717 68,047 113,3621 2,039,343 68,047 113,3621 At 31 August 2024 1.565.626 528,402 2,094,028 DEPRECIATION Al 1 September 2023 Charge for year Eliminated on disposal 271,374 31.312 394,755 45.789 113,3621 666,129 77.101 113,3621 At 31 August 2024 302.686 427,182 729,868 NET BOOK VALUE At 31 August 2024 1,262,940 101,220 1,364,160 At 31 August 2023 1,294,252 78,962 1,373,214 17
Oowsign Envel ID". 51865B5&AF1fA5FE-AF9E-936TkF70ABFC KING'S CHURCH, HIGH WYCOMBE NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 AUGUST 2024 12. DEBTORS.. AMOUNTS FALUNG DUE WITHIN ONE YEAR 31.8.24 31.8.23 Trade debtors Tax Prepayments and acLrued income 2,410 10,214 273 7,119 11,097 12,897 18,216 13. CREDITORS: AMOUNTS FALLING DUE H1N ONE YEAR 31.8.24 31.8.23 Trade creditors Social security and other taxes Other creditors Accruals and deferred income 153 12,752 9,998 12,612 360 31,685 48,814 61,719 54,655 14. MOVEMENT IN FUNDS Net movement in funds TransfeTS betren funds Al 31.8.24 Al 1.9.23 Unrostrlct8d funds General fund King's Centre Unrestn'cted Fixed Assets 352,041 1.294.252 48.581 31.3121 140,1411 1136,350 264,272 1,262,940 84,278 124,419 1.646.293 122,8721 111,931 1,611,490 Restrlctsd funds HW Debt relief Hope fvnd Vision fund West End Hall Restricted fixed assets 4,077 96,388 26,700 31,250 (12,0191 (23.3761 18.0021 11,179 752 3,237 73,764 8.698 8.661 16,942 122,589 22,589 15.6471 158.415 159.0441 11,931 111,302 TOTAL FUNDS 1.804.708 81.9161 1,722,792 18
Oowsign Envel ID". 51865B5&AF1fA5FE-AF9E-936TkF70ABFC KING'S CHURCH, HIGH WYCOMBE NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 AUGUST 2024 14. MOVEMENT IN FUNDS- continued Net movement in fvnds, included in the above are as folbws.. 1mIng resourcE5 Resources expended Movement in fvnd5 Unrèstrictsd lunds General fund King's Centre un$trIed Fixed Assets 928.SN)4 1880,323 131,312 140.1411 48,581 131,3121 140.1411 928.904 1951.7761 122,8721 Rèstrlct¢d funds HW Debt relief Hope fund Vision fvjnd Restn'cied fixed assets 370 70.170 59.543 112.3891 193,546 177.5451 15,6471 112.0191 123,3761 118,0021 15,6471 130.083 1189.127 159,0441 TOTAL FUNDS 1,058,987 11,140,903 181,9161 Comparatlves for mo¥•ment In fvnds Net movement in frjnds Al 31.8.23 At 1.9.22 Unrestrictsd lund8 General fvnd King's Centre Vision 394.464 1,325,564 34.693 142.4231 131,312 134,693 352,041 1,294,252 1,754,721 1108,428) 1,646,293 Restrlctod fund8 Nepal fund HW Debt relief Hope fvnd Vision fund West End Hall 308 3,878 81,923 1308) 199 14,465 26,700 31,250 4.077 96,388 26.700 31,250 86,109 72,306 158,415 TOTAL FUNDS 1,840,830 136,122} 1,804,708 19
Oowsign Envel ID". 51865B5&AF1fA5FE-AF9E-936TkF70ABFC KING'S CHURCH, HIGH WYCOMBE NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 AUGUST 2024 14. MOVEMENT IN FUNDS- continued Comparatsve net movement in (unds, included in the above are as fdthts.. 1mIng resourcE5 Resources expended Movement in fvnd5 Unrèstrictsd lunds General fund King's Centre Vision 836,040 1878,463 131,312 134.6931 142,4231 131,3121 134.6931 836.040 1944.4681 1108,4281 Rèstrlct¢d funds Nepal fvnd HW Debt relief Hope fund Vision fund Vvest End Hall 13081 137,691 151.2811 126,386 13081 199 14.465 26.700 31,250 37,8gY) 65.746 53.C66 31,250 187.952 1115,646 72,306 TOTAL FUNOS 1,023.992 11.060,114 136,1221 The King's Centre 1$ the cost of the chwch vthere the Chanty perfoms its charrtable 8th"wb"e8 and 18 being depreoaled annualty. Reslricied Fixed Asset fund, indudes all fixed assets vthich have been purchased using reslricled funds and are being depreciated each year. The Vision fvnd is for new initiatsves. iTrJuding finarring the development of tuture church leaders. Nepal fund is monies colle¢led and paid lo indmduals in Kathmandu to assist in their church and orphanages, in local relief projects and wth edLbcational needs. HW Debt Relief fund assists towards helping people in High Wcombe to free themselves from a life of debt. The Hope fund was estsblished ag part of the Hope lnib.abve to care, help and bring hope lo vulnerable people in the local High W¢ombe mMnty. Wesl End Hall fvnd is reserve(I to refvrt)ish the West End Hall area of the church. these entries have been transferred to the restricted fixed assets fvnd in Ihe year. 20
Oowsign Envel ID". 51865B5&AF1fA5FE-AF9E-936TkF70ABFC KING'S CHURCH, HIGH WYCOMBE NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 AUGUST 2024 15. EMPLOYEE BENEFIT OBUGATIONS The charity contributes to the empwees pension schemes, the pension cost charge represents contributson5 payable by the charty to the lund and amounted lo £53,88512023." £51,407). 16. RELATED PARTY DISCLOSURES There were no reL8ted party tr8nsacb"on5 for the year ended 31 August 2024. 21