Annual Report and Financial Statements for the Year Ended 30 June 2022
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 (CONTINUED)
| 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 16 |
KINGS CHURCH WOKINGHAM
REFERENCE AND ADMINISTRATIVE DETAILS
Trustees
Peter Chong David Payne (resigned 13 January 2022) Annette Davies Christen Forster (resigned 13 June 2022) Jonathan Bowring (resigned 16 April 2022) Timothy Randall Richard Davies (appointed 13 January 2022) Ross Macrow (appointed 13 January 2022)
Charity Registration 1190287 Number
Principal Office Kings Place 9-11 Station Road Wokingham RG40 2AD Independent Examiner G W Schulz ACMA Independent Examiners Ltd 2 Broadbridge Business Centre Delling Lane Bosham Chichester West Sussex PO18 8NF Solicitors Rutters 2 Bimport Shaftesbury Dorset SP7 8AY Bankers Lloyds Bank plc 83 Clarence Street Kingston Upon Thames KT1 1RE
Page 1
KINGS CHURCH WOKINGHAM
TRUSTEES' REPORT
The Trustees present the annual report together with the financial statements of the charity for the year ended 30 June 2022.
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.
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 (CONTINUED)
Achievements and performance
During the year Kings Church continued to offer online access to its Sunday service and mid week prayer meeting via Zoom, as well as these meetings being in person. Sunday morning meetings, midweek groups, prayer meetings and social times all went back to meeting in person and most of the members welcomed this. Kings Church were able to support members who did not want to meet in person via regular online access. The toddler group and family church group were able to run again in person, initially with limits to numbers and with social distancing in place.
The Church has continued to support Christian work with young people, and overseas work has also been well supported particularly in Vietnam and Nepal.
Kings Church continued to look for a new leader during the year and have appointed an interim leader from 1st April 2022.
Financial review
The principal source of income is from donations, most of which is given by Church members under the Gift Aid scheme. The surplus made by the CIO in the year amounted to £4,903 (2021: deficit £877).
The Trustees are satisfied with this financial position.
Policy on reserves
The Trustees have examined the charity’s requirements for reserves in light of the main risks in the current economic climate. The charity’s policy for reserves is to cover both the ordinary expenditure and ‘unforeseen eventualities’; and as such they deem it reasonable to hold reserves equivalent to six months expenditure. This reserves policy is reviewed on an annual basis, and the Trustees are satisfied with the current position.
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.
Plans for future periods
The Church is constantly looking at ways to grow its three principal goals. The appointment of the new interim leader will enable the church to move forwards and to focus efforts under new leadership.
Page 3
KINGS CHURCH WOKINGHAM TRUSTEES. REPORT (CONTINUED) statement of Responsibilities The Trustees are responsible for preparing the Trustees. report and the financial statements in accordance with the United Kingdom AccoLJnting 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 year 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.. select suitable accounting policies and then apply them consistently: observe the methods and principles in the Charities SORP- make judgements and estimates that are reasonable and prudent: state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and prepare the financial statements on the going concem 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 fir)ancial position of the charity and enable them to ensure that the financial statements comply with the Charities Art 2011, the Charities {Accounts and Reports) Regulations 2008, 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 31 January 2023 and signed on its behalf by.. Timothy Randall Trustee Page 4
KINGS CHURCH WOKINGHAM
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF KINGS CHURCH WOKINGHAM
I report to the Trustees on my examination of the accounts of Kings Church Wokingham for the year ended 30 June 2022.
Responsibilities and basis of report
As the charity 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:
-
accounting records were not kept in respect of Kings Church Wokingham as required by section 130 of the Act; or
-
the accounts do not accord with those records; or
-
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
31 January 2023
Page 5
KINGS CHURCH WOKINGHAM
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 JUNE 2022
| Note Unrestricted funds £ Income and Endowments from: Donations and legacies 2 51,750 Charitable activities 3 31,745 Investment income 4 16 Total income 83,511 Expenditure on: Charitable activities 5 76,253 Total expenditure 76,253 Net income/(expenditure) 7,258 Transfer from unincorporated charity - Net movement in funds 7,258 Reconciliation of funds Total funds brought forward 451,740 Total funds carried forward 13 458,998 |
Restricted funds £ 12,071 - - 12,071 14,426 14,426 (2,355) - (2,355) 22,376 20,021 |
Total 30 June 2022 £ 63,821 31,745 16 95,582 90,679 90,679 4,903 - 4,903 474,116 479,019 |
Total 7 July 2020 to 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 16 form an integral part of these financial statements. Page 6
KINGS CHURCH WOKINGHAM BALANCE SHEET AS AT 30 JUNE 2022 2022 2021 Note Fixed assets Tangible assets 308,178 314,098 308 178 314 098 Current assets Debtors Cash at bank and in hand io 7,405 167 188 4,938 160 060 174,593 164,998 Creditors: Amounts falling due within one year Net current assets li 4,980 170,841 160,018 Net assets 479 019 474.116 Funds of the charlty: Restricted income funds Restricted funds 20.021 22,376 Unrestricted income funds Unrestricted funds 458 998 451,740 Total fund5 13 479,019 474,116 The Financial statements on pages 6 to 16 were approved by the Trustees. and authorised for issue on 31 January 2023 and signed on their behalf by= Timothy Randall Trustee The notes on pages 8 to 16 form an integral part of these financial statements. Page 7
KINGS CHURCH WOKINGHAM
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2022
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. The accounts (financial statements) have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts.
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.
Interest receivable
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.
Page 8
KINGS CHURCH WOKINGHAM
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2022 (CONTINUED)
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.
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.
Taxation
The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company 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 to charitable purposes.
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.
Page 9
KINGS CHURCH WOKINGHAM
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2022 (CONTINUED)
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 charity 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.
Fund structure
Unrestricted income funds are general funds that are available for use at the Trustees 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.
Page 10
KINGS CHURCH WOKINGHAM
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2022 (CONTINUED)
2 Income from donations and legacies
| Unrestricted funds General £ Donations and legacies; Donations 39,356 Gift aid reclaimed 12,394 51,750 3 Income from charitable activities Charitable activities 4 Investment income Interest receivable and similar income; Interest receivable on bank deposits |
Restricted funds £ 12,071 - 12,071 Unrestricted funds General £ 31,745 Unrestricted funds General £ 16 |
Total 2022 £ 51,427 12,394 63,821 Total 2022 £ 31,745 Total 2022 £ 16 |
Total 2021 £ 22,531 5,471 |
|---|---|---|---|
| 28,002 | |||
| Total 2021 £ 9,960 |
|||
| Total 2021 £ 5 |
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KINGS CHURCH WOKINGHAM
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2022 (CONTINUED)
5 Expenditure on charitable activities
| Note Events General outreach External speakers Youth and children 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 Bank charges Independent examination Depreciation, amortisation and other similar costs Grant funding of activities 6 Staff costs 8 |
Unrestricted funds General £ 9,649 - 735 81 1,066 3,576 2,903 3,872 3,621 296 3,132 19 2,678 1,472 1,080 5,930 55 1,980 7,237 16,299 10,572 76,253 |
Restricted funds £ 829 - - - - - 1,744 - - - - - - - - - - - - 11,853 - 14,426 |
Total 2022 £ 10,478 - 735 81 1,066 3,576 4,647 3,872 3,621 296 3,132 19 2,678 1,472 1,080 5,930 55 1,980 7,237 28,152 10,572 90,679 |
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 12
KINGS CHURCH WOKINGHAM
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2022 (CONTINUED)
6 Grant-making
Analysis of grants
Grants
Grants to institutions 2022 2021 £ £ 28,152 13,670
The support costs associated with grant-making are £Nil (30 June 2021 - £Nil).
7 Trustees remuneration and expenses
No Trustees, nor any persons connected with them, have received any remuneration from the charity during the year.
No Trustees have received any reimbursed expenses or any other benefits from the charity during the year.
8 Staff costs
The aggregate payroll costs were as follows:
| Staff costs during the year were: Wages and salaries Pension costs |
2022 £ 10,103 469 10,572 |
2021 £ 4,111 206 |
|---|---|---|
| 4,317 |
The monthly average number of persons (including senior management / leadership team) employed by the charity during the year expressed as full time equivalents was as follows:
| Employees | 2022 No 2 |
2021 No 2 |
|---|---|---|
No employee received emoluments of more than £60,000 during the year
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KINGS CHURCH WOKINGHAM
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2022 (CONTINUED)
9 Tangible fixed assets
| Land and buildings £ Furniture and equipment £ Cost At 1 July 2021 365,104 17,177 Additions - - At 30 June 2022 365,104 17,177 Depreciation At 1 July 2021 51,114 18,118 Charge for the year 7,302 (941) At 30 June 2022 58,416 17,177 Net book value At 30 June 2022 306,688 - At 30 June 2021 313,990 (941) 10 Debtors Prepayments Accrued income 11 Creditors: amounts falling due within one year Other creditors Accruals |
Land and buildings £ Furniture and equipment £ Cost At 1 July 2021 365,104 17,177 Additions - - At 30 June 2022 365,104 17,177 Depreciation At 1 July 2021 51,114 18,118 Charge for the year 7,302 (941) At 30 June 2022 58,416 17,177 Net book value At 30 June 2022 306,688 - At 30 June 2021 313,990 (941) 10 Debtors Prepayments Accrued income 11 Creditors: amounts falling due within one year Other creditors Accruals |
Computer equipment £ 13,009 1,317 |
Total £ 395,290 1,317 396,607 81,192 7,237 88,429 308,178 314,098 2021 £ 1,485 3,453 |
|
|---|---|---|---|---|
| 14,326 | ||||
| 11,960 876 |
||||
| 12,836 | ||||
| 1,490 | ||||
| 1,049 | ||||
| 2022 £ 1,865 5,540 7,405 2022 £ 1,228 2,524 3,752 |
||||
| 4,938 | ||||
| 2021 £ 1,227 3,753 |
||||
| 4,980 |
Page 14
KINGS CHURCH WOKINGHAM
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2022 (CONTINUED)
12 Pension and other schemes
Defined contribution pension scheme
The charity operates a defined contribution pension scheme. The pension cost charge for the year represents contributions payable by the charity to the scheme and amounted to £469 (2021 - £206).
13 Funds
| Unrestricted funds General General Funds Restricted funds Building fund Specific gifts Total funds |
Balance at 1 July 2021 £ 451,740 17,268 5,108 22,376 474,116 |
Incoming resources £ 83,511 - 12,071 12,071 95,582 |
Resources expended £ (76,253) (1,744) (12,682) (14,426) (90,679) |
Balance at 30 June 2022 £ 458,998 15,524 4,497 |
|---|---|---|---|---|
| 20,021 | ||||
| 479,019 |
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.
Page 15
KINGS CHURCH WOKINGHAM
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2022 (CONTINUED)
| Incoming resources £ Unrestricted funds General General Funds 32,924 Restricted funds Building fund - Specific gifts 5,043 5,043 Total funds 37,967 14 Analysis of net assets between funds Tangible fixed assets Current assets Current liabilities Total net assets Tangible fixed assets Current assets Current liabilities Total net assets |
Resources expended £ (30,658) - (8,186) (8,186) (38,844) Unrestricted funds General £ 308,178 154,572 (3,752) 458,998 Unrestricted funds General £ 314,098 142,622 (4,980) 451,740 |
Transfers £ 449,474 17,268 8,251 25,519 474,993 Restricted funds £ - 20,021 - 20,021 Restricted funds £ - 22,376 - 22,376 |
Balance at 30 June 2021 £ 451,740 17,268 5,108 |
|---|---|---|---|
| 22,376 | |||
| 474,116 | |||
| Total funds at 30 June 2022 £ 308,178 174,593 (3,752) |
|||
| 479,019 | |||
| Total funds at 30 June 2021 £ 314,098 164,998 (4,980) |
|||
| 474,116 |
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