Annual Report and Financial Statements for the Year Ended 30 June 2023
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 16 |
KINGS CHURCH WOKINGHAM
REFERENCE AND ADMINISTRATIVE DETAILS
Trustees Peter Chong Annette Davies Timothy Randall Richard Davies Ross Macrow Henry George (appointed 19 December 2023) 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 2023.
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
Kings Church continues to offer its services both ‘in person’ at its Station Road address, and online over Zoom. This includes both the Sunday morning service and the Wednesday morning prayer meeting. Meeting in person has gone back to being the ‘norm’ with the online option mainly being used by those who are unwell or on holiday. The church toddler group and family church group continued to run during term time, and the church set up a new community group called ‘The Well’ where any and all are invited to come and share refreshments, lunch and social time on a Wednesday from 11am until 3pm. At The Well, Kings Church partners with another local charity ‘Share’ in using and distributing donated food in order to avoid it going to landfill, as well as partnering with the local council in providing a ‘warm space’. This has been a hugely popular project, well attended by many outside of the church and well supported by church members.
The Church has continued to support Christian work with young people, and overseas work support has also continued in Vietnam and Nepal. There has been a significant increase in the Chinese/Hong Kong community, and so Kings have been able to offer the Alpha course and facilitate regular meetings of the Chinese/Hong Kong community in its building.
Kings Church benefited from the appointment of an interim leader from April 2022 and continues to review future requirements.
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 £2,872 (2022: deficit £4,903).
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 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 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 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 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 13 March 2024 and signed on its behalf by:
T Randall
......................................... 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 2023.
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
13 March 2024
Page 5
KINGS CHURCH WOKINGHAM
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 JUNE 2023
| Note Unrestricted funds £ Income and Endowments from: Donations and legacies 2 81,172 Charitable activities 3 30,540 Investment income 4 609 Total income 112,321 Expenditure on: Charitable activities 5 102,998 Total expenditure 102,998 Net income/(expenditure) 9,323 Net movement in funds 9,323 Reconciliation of funds Total funds brought forward 458,998 Total funds carried forward 13 468,321 |
Restricted funds £ 11,972 - - 11,972 18,423 18,423 (6,451) (6,451) 20,021 13,570 |
Total 2023 £ 93,144 30,540 609 124,293 121,421 121,421 2,872 2,872 479,019 481,891 |
Total 2022 £ 63,821 31,745 16 |
|---|---|---|---|
| 95,582 | |||
| 90,679 | |||
| 90,679 | |||
| 4,903 | |||
| 4,903 474,116 |
|||
| 479,019 |
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 2023
| 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 |
2023 £ 300,770 300,770 10,194 174,169 184,363 (3,242) 181,121 481,891 13,570 468,321 481,891 |
2022 £ 308,178 |
|---|---|---|
| 308,178 | ||
| 7,405 167,188 |
||
| 174,593 (3,752) |
||
| 170,841 | ||
| 479,019 | ||
| 20,021 458,998 |
||
| 479,019 |
The financial statements on pages 6 to 16 were approved by the Trustees, and authorised for issue on 13 March 2024 and signed on their behalf by:
T Randall
......................................... 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 2023
1 Accounting policies
Statement of compliance
The financial statements have been prepared in accordance with the second edition of the Charities Statement of Recommended Practice issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom 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.
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 YEAR ENDED 30 JUNE 2023 (CONTINUED)
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.
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.
Page 9
KINGS CHURCH WOKINGHAM
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023 (CONTINUED)
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 2023 (CONTINUED)
2 Income from donations and legacies
| Unrestricted funds General £ Donations and legacies; Donations 66,516 Gift aid reclaimed 14,656 81,172 3 Income from charitable activities Unrestricted funds General £ Charitable activities 30,540 4 Investment income Unrestricted funds General £ Interest receivable and similar income; Interest receivable on bank deposits 609 |
Restricted funds £ 11,972 - 11,972 Restricted funds £ - Restricted funds £ - |
Total 2023 £ 78,488 14,656 93,144 Total 2023 £ 30,540 Total 2023 £ 609 |
Total 2022 £ 51,427 12,394 |
|---|---|---|---|
| 63,821 | |||
| Total 2022 £ 31,745 |
|||
| Total 2022 £ 16 |
Page 11
KINGS CHURCH WOKINGHAM
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023 (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 £ 1,108 17 1,965 90 1,069 2,972 1,803 3,700 3,951 1,177 2,510 48 1,403 1,486 970 23,764 102 1,980 8,152 34,419 10,312 102,998 |
Restricted funds £ - - - - - - 8,105 - - - - - - - - - - - - 10,318 - 18,423 |
Total 2023 £ 1,108 17 1,965 90 1,069 2,972 9,908 3,700 3,951 1,177 2,510 48 1,403 1,486 970 23,764 102 1,980 8,152 44,737 10,312 121,421 |
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 |
Page 12
KINGS CHURCH WOKINGHAM
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023 (CONTINUED)
6 Grant-making
Analysis of grants
Grants to institutions 2023 2022 £ £ Grants 44,737 28,152
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 |
2023 £ 9,821 491 10,312 |
2022 £ 10,103 469 |
|---|---|---|
| 10,572 |
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 | 2023 No 2 |
2022 No 2 |
|---|---|---|
No employee received emoluments of more than £60,000 during the year
Page 13
KINGS CHURCH WOKINGHAM
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023 (CONTINUED)
9 Tangible fixed assets
| Land and buildings £ Furniture and equipment £ Cost At 1 July 2022 365,104 17,177 Additions - - At 30 June 2023 365,104 17,177 Depreciation At 1 July 2022 58,416 17,177 Charge for the year 7,302 - At 30 June 2023 65,718 17,177 Net book value At 30 June 2023 299,386 - At 30 June 2022 306,688 - 10 Debtors Prepayments Accrued income 11 Creditors: amounts falling due within one year Other creditors Accruals |
Furniture and equipment £ 17,177 - |
Computer equipment £ 14,326 744 |
Total £ 396,607 744 397,351 88,429 8,152 96,581 300,770 308,178 2022 £ 1,865 5,540 |
||
|---|---|---|---|---|---|
| 17,177 | 15,070 | ||||
| 17,177 - |
12,836 850 |
||||
| 17,177 | 13,686 | ||||
| - | 1,384 | ||||
| - | 1,490 | ||||
| 2023 £ 2,047 8,147 10,194 2023 £ 1,227 2,015 3,242 |
|||||
| 7,405 | |||||
| 2022 £ 1,228 2,524 |
|||||
| 3,752 |
Page 14
KINGS CHURCH WOKINGHAM
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023 (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 £491 (2022 - £469).
13 Funds
| Unrestricted funds General General Funds Restricted funds Building fund Specific gifts Total funds |
Balance at 1 July 2022 £ 458,998 15,524 4,497 20,021 479,019 |
Incoming resources £ 112,321 - 11,972 11,972 124,293 |
Resources expended £ (102,998) (8,105) (10,318) (18,423) (121,421) |
Balance at 30 June 2023 £ 468,321 7,419 6,151 |
|---|---|---|---|---|
| 13,570 | ||||
| 481,891 |
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 2023 (CONTINUED)
| Balance at 1 July 2021 £ Unrestricted funds General General Funds 451,740 Restricted funds Building fund 17,268 Specific gifts 5,108 22,376 Total funds 474,116 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 |
Incoming resources £ 83,511 - 12,071 12,071 95,582 Unrestricted funds General £ 300,770 170,793 (3,242) 468,321 Unrestricted funds General £ 308,178 154,572 (3,752) 458,998 |
Resources expended £ (76,253) (1,744) (12,682) (14,426) (90,679) Restricted funds £ - 13,570 - 13,570 Restricted funds £ - 20,021 - 20,021 |
Balance at 30 June 2022 £ 458,998 15,524 4,497 |
|---|---|---|---|
| 20,021 | |||
| 479,019 | |||
| Total funds at 30 June 2023 £ 300,770 184,363 (3,242) |
|||
| 481,891 | |||
| Total funds at 30 June 2022 £ 308,178 174,593 (3,752) |
|||
| 479,019 |
Page 16