Annual Report and Financial Statements for the period from 7 July 2020 to 30 June 2021
Kings Church Wokingham
Charity registration number: 1190287
Independent Examiners Ltd 2 Broadbridge Business Centre Delling Lane Bosham Chichester West Sussex PO18 8NF
KINGS CHURCH WOKINGHAM
Contents
| Reference and Administrative Details | 1 |
|---|---|
| Trustees' Report | 2 to 4 |
| Independent Examiner's Report | 5 |
| Statement of Financial Activities | 6 |
| Balance Sheet | 7 |
| Notes to the Financial Statements | 8 to 14 |
KINGS CHURCH WOKINGHAM
Reference and Administrative Details
Trustees Peter Chong David Payne Annette Davies Christen Forster Jonathan Bowring Timothy Randall Principal Office Kings Place 9-11 Station Road Wokingham RG40 2AD Charity Registration 1190287 Number Independent Examiner G W Schulz ACMA Independent Examiners Ltd 2 Broadbridge Business Centre Delling Lane Bosham Chichester West Sussex PO18 8NF Bankers Lloyds Bank plc 83 Clarence Street Kingston Upon Thames KT1 1RE Solicitors Rutters 2 Bimport Shaftesbury Dorset SP7 8AY
Page 1
KINGS CHURCH WOKINGHAM
Trustees' Report
The Trustees present the annual report together with the financial statements of the charity for the period ended 30 June 2021.
Objectives and activities
Structure, governance and management
Nature of governing document
The Church was originally established as a registered charity under a Deed of Trust dated 20 May 1999 and then converted to a CIO in 2021. The CIO was registered on 7 July 2020 and the assets transferred during the financial year July 2020 to June 2021.
Recruitment and appointment of Trustees
The management of the charity is the responsibility of the Trustees who are elected under the terms of the constitution.
Organisational structure
The spiritual life of the Church is currently overseen by a Leadership Team with the support of the Trustees. This Leadership Team is giving spiritual oversight and strategic direction to the Church while future leadership and external relationships are explored.
The Church employs staff and contractors to support the day to day activities of the Church; these are accountable to the Trustees.
Risk management
The Trustees have assessed the major risks to which the charity is exposed, in particular those related to the operations and finances of the charity, and are satisfied that systems and procedures are in place to mitigate exposure to the major risks. The risks posed by the pandemic have been regularly assessed, adapting processes and precautions as appropriate.
Objects and aims
The principal object of the charity is to oversee the administrative activities of Kings Church Wokingham, which is now a well-established church with offices in Wokingham.
Meetings taking place in person or online each week for worship, teaching and several missions, both local and overseas, are supported by the Church. The Church’s main goals are as follows:
a) To build the Church community and to reach out to our local community;
b) To impact this generation by investing in children and youth;
c) To support world mission through prayer, financial giving and enabling church members to participate in overseas missions.
Public benefit
The Trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.
Page 2
KINGS CHURCH WOKINGHAM
Trustees' Report
Achievements and performance
For much of the year Kings Church continued to meet online over Zoom. Sunday morning meetings, midweek groups, prayer meetings and social times all took place online and all members remained supported and connected. Various new support groups were formed, and members really engaged with meeting in this way. From the 23 May 2021 the church was able to meet in person again, in limited numbers, at the Hall behind the offices at 9 Station Road. Strict risk assessments were made and followed regarding numbers, social distancing, ventilation, mask wearing and contract tracing. Individuals were asked to book one of the seats available for a Sunday morning. Midweek activities continued online with some meetings outdoors.
The Church has continued to support Christian work with young people, and overseas work has also been well supported particularly in Vietnam and Nepal.
Financial review
The principal source of income is from donations, most of which is given by Church members under the Gift Aid scheme. The deficit made by the CIO in the year amounted to £877.
The Trustees are satisfied with this financial position.
Plans for future periods
The Church is constantly looking at ways to grow its three principal goals.
Going concern
After making appropriate enquiries, the Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. For this reason they continue to adopt the going concern basis in preparing the financial statements.
Page 3
KINGS CHURCH WOKINGHAM
Trustees' Report
Statement of Trustees' Responsibilities
The Trustees are responsible for preparing the Trustees' report and the financial statements in accordance with the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) and applicable law and regulations.
The law applicable to charities requires the Trustees to prepare financial statements for each financial period which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the Trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charities SORP;
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make judgements and estimates that are reasonable and prudent;
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state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations, and the provisions of the constitution. The Trustees 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 annual report was approved by the Trustees of the charity on 12 January 2022 and signed on its behalf by:
David Payne (Jan 18, 2022 07:42 GMT) ......................................... David Payne Trustee
T Randall T Randall (Jan 24, 2022 09:44 GMT) ......................................... Timothy Randall Trustee
Page 4
KINGS CHURCH WOKINGHAM
Independent Examiner's Report to the Trustees of Kings Church Wokingham
I report to the charity Trustees on my examination of the accounts of the charity for the year ended 30 June 2021 which are set out on pages 6 to 14.
Respective responsibilities of Trustees and examiner
As the charity’s Trustees of Kings Church Wokingham you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).
I report in respect of my examination of the Kings Church Wokingham's accounts carried out under section 145 of the 2011 Act and 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.
Independent examiner’s statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
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accounting records were not kept in respect of Kings Church Wokingham as required by section 130 of the Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the accounting requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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.
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.
...................................... G W Schulz ACMA
Independent Examiners Ltd 2 Broadbridge Business Centre Delling Lane Bosham Chichester West Sussex PO18 8NF
12 January 2022
Page 5
KINGS CHURCH WOKINGHAM
Statement of Financial Activities for the Period from 7 July 2020 to 30 June 2021
| Note Unrestricted funds £ Income and Endowments from: Donations and legacies 2 22,959 Charitable activities 3 9,960 Investment income 4 5 Total income 32,924 Expenditure on: Charitable activities 5 30,658 Total expenditure 30,658 Net income/(expenditure) 2,266 Transfer from unincorporated charity 449,474 Net movement in funds 451,740 Reconciliation of funds Total funds carried forward 13 451,740 |
Restricted funds £ 5,043 - - 5,043 8,186 8,186 (3,143) 25,519 22,376 22,376 |
Total 30 June 2021 £ 28,002 9,960 5 |
|---|---|---|
| 37,967 | ||
| 38,844 | ||
| 38,844 | ||
| (877) 474,993 |
||
| 474,116 | ||
| 474,116 |
The notes on pages 8 to 14 form an integral part of these financial statements. Page 6
KINGS CHURCH WOKINGHAM
Balance Sheet as at 30 June 2021
| Note Fixed assets Tangible assets 9 Current assets Debtors 10 Cash at bank and in hand Creditors: Amounts falling due within one year 11 Net current assets Net assets Funds of the charity: Restricted income funds Restricted funds Unrestricted income funds Unrestricted funds Total funds 13 |
2021 £ 314,098 4,938 160,060 |
|---|---|
| 164,998 (4,980) |
|
| 160,018 | |
| 474,116 | |
| 22,376 451,740 |
|
| 474,116 |
The financial statements on pages 6 to 14 were approved by the Trustees, and authorised for issue on 12 January 2022 and signed on their behalf by:
David Payne (Jan 18, 2022 07:42 GMT)
......................................... David Payne Trustee
T Randall T Randall (Jan 24, 2022 09:44 GMT) ......................................... Timothy Randall Trustee
The notes on pages 8 to 14 form an integral part of these financial statements. Page 7
KINGS CHURCH WOKINGHAM
Notes to the Financial Statements for the Period from 7 July 2020 to 30 June 2021
1 Accounting policies
Statement of compliance
The financial statements have been prepared in accordance with 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 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.
Basis of preparation
Kings Church Wokingham meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.
Going concern
The Trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern.
Income and endowments
Voluntary income including donations, gifts, legacies and grants that provide core funding or are of a general nature is recognised when the charity has entitlement to the income, it is probable that the income will be received and the amount can be measured with sufficient reliability.
Donations and legacies
Donations and legacies are recognised on a receivable basis when receipt is probable and the amount can be reliably measured.
Gift aid
Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Expenditure
All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category.
Page 8
KINGS CHURCH WOKINGHAM
Notes to the Financial Statements for the Period from 7 July 2020 to 30 June 2021
Charitable activities
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
Grant provisions
Provisions for grants are made when the intention to make a grant has been communicated to the recipient but there is uncertainty about either the timing of the grant or the amount of grant payable.
Tangible fixed assets
Individual fixed assets are initially recorded at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation and amortisation
Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:
| Asset class | Depreciation method and rate |
|---|---|
| Land and buildings | 2% on cost |
| Furniture and equipment | 10% on cost |
| Computer equipment | 20% on cost |
Debtors
Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Liabilities
Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the company anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
Page 9
KINGS CHURCH WOKINGHAM
Notes to the Financial Statements for the Period from 7 July 2020 to 30 June 2021
Fund structure
Unrestricted income funds are general funds that are available for use at the Trustees's discretion in furtherance of the objectives of the charity.
Restricted income funds are those donated for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose.
Pensions and other post retirement obligations
The charity operates a defined contribution pension scheme which is a pension plan under which fixed contributions are paid into a pension fund and the charity has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised in the Statement of Financial Activities when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
2 Income from donations and legacies
| Donations and legacies; Donations Gift aid reclaimed |
Unrestricted funds General £ 17,488 5,471 22,959 |
Restricted funds £ 5,043 - 5,043 |
Total 2021 £ 22,531 5,471 |
|---|---|---|---|
| 28,002 |
3 Income from charitable activities
| Projects | Unrestricted funds General £ 9,960 |
Total 2021 £ 9,960 |
|---|---|---|
Page 10
KINGS CHURCH WOKINGHAM
Notes to the Financial Statements for the Period from 7 July 2020 to 30 June 2021
4 Investment income
| Interest receivable and similar income; Interest receivable on bank deposits |
Unrestricted funds General £ 5 |
Total 2021 £ 5 |
|---|---|---|
5 Expenditure on charitable activities
| Note General outreach External speakers Equipment Sundry and subscriptions Building maintenance Rates and parking space Utilities Cleaning Computer costs Stationery and books Postage and printing Telephone Insurance Professional and legal fees Independent examination Depreciation, amortisation and other similar costs Grant funding of activities 6 Staff costs 8 |
Unrestricted funds General £ 20 400 500 1,051 539 1,477 1,772 340 1,435 33 1,201 636 483 1,163 975 8,832 5,484 4,317 30,658 |
Restricted funds £ - - - - - - - - - - - - - - - - 8,186 - 8,186 |
Total 2021 £ 20 400 500 1,051 539 1,477 1,772 340 1,435 33 1,201 636 483 1,163 975 8,832 13,670 4,317 |
|---|---|---|---|
| 38,844 |
Page 11
KINGS CHURCH WOKINGHAM
Notes to the Financial Statements for the Period from 7 July 2020 to 30 June 2021
6 Grant-making
Analysis of grants
Grants
Grants to institutions 2021 £ 13,670
7 Trustees remuneration and expenses
No Trustees, nor any persons connected with them, have received any remuneration from the charity during the year.
One Trustee received reimbursement of expenses amounting to £862 during the year.
8 Staff costs
The aggregate payroll costs were as follows:
2021 £
Staff costs during the period were:
| Staff costs during the period were: | |
|---|---|
| Wages and salaries Pension costs |
4,111 206 |
| 4,317 |
The monthly average number of persons (including senior management team) employed by the charity during the period expressed as full time equivalents was as follows:
2021 No Employees 2
No employee received emoluments of more than £60,000 during the period
Page 12
KINGS CHURCH WOKINGHAM
Notes to the Financial Statements for the Period from 7 July 2020 to 30 June 2021
9 Tangible fixed assets
| Cost Transfer from unincorporated charity At 30 June 2021 Depreciation Charge for the year Transfer from unincorporated charity At 30 June 2021 Net book value At 30 June 2021 10 Debtors Prepayments Accrued income |
Land and buildings £ 365,104 365,104 7,302 43,812 51,114 313,990 |
Furniture and equipment £ 17,177 17,177 1,211 16,907 18,118 (941) |
Computer equipment £ 13,009 |
Total £ 395,290 395,290 8,832 72,360 81,192 314,098 2021 £ 1,485 3,453 |
|
|---|---|---|---|---|---|
| 13,009 | |||||
| 319 11,641 |
|||||
| 11,960 | |||||
| 1,049 | |||||
| 4,938 |
11 Creditors: amounts falling due within one year
| 11 Creditors: amounts falling due within one year | |
|---|---|
| Other creditors Accruals |
2021 £ 1,227 3,753 |
| 4,980 |
12 Pension and other schemes
Defined contribution pension scheme
The charity operates a defined contribution pension scheme. The pension cost charge for the period represents contributions payable by the charity to the scheme and amounted to £206 .
Page 13
KINGS CHURCH WOKINGHAM
Notes to the Financial Statements for the Period from 7 July 2020 to 30 June 2021
13 Funds
| Unrestricted funds General General Funds Restricted funds Building fund Specific gifts Total funds |
Balance at 7 July 2020 £ - - - - - |
Incoming resources £ 32,924 - 5,043 5,043 37,967 |
Resources expended £ Transfers from unincorporated charity £ Balance at 30 June 2021 £ (30,658) 449,474 451,740 - 17,268 17,268 (8,186) 8,251 5,108 (8,186) 25,519 22,376 (38,844) 474,993 474,116 |
Resources expended £ Transfers from unincorporated charity £ Balance at 30 June 2021 £ (30,658) 449,474 451,740 - 17,268 17,268 (8,186) 8,251 5,108 (8,186) 25,519 22,376 (38,844) 474,993 474,116 |
|---|---|---|---|---|
| 22,376 | ||||
| 474,116 |
The Building fund has been set up to assist in purchasing and maintaining the property of the charity.
Specific gifts received during the year are in respect of Christian missions and are normally paid out in full as soon as possible.
14 Analysis of net assets between funds
| Tangible fixed assets Current assets Current liabilities Total net assets |
Unrestricted funds General £ 314,098 142,622 (4,980) 451,740 |
Restricted funds £ - 22,376 - 22,376 |
Total funds at 30 June 2021 £ 314,098 164,998 (4,980) |
|---|---|---|---|
| 474,116 |
Page 14