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2024-06-30-accounts

Annual Report and Financial Statements for the Year Ended 30 June 2024

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 FCMA 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 year ended 30 June 2024.

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. The church toddler group ‘Kings Kiddies’ continued to run on a Monday during term time, and their community group ‘The Well’ continued to grow sharing refreshments, lunch and social time on a Wednesday. 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. Kings Church has seen a significant rise in the Chinese/Hong Kong communities and has partnered with ‘Reading Hongkongers CIC’ to offer ‘Welcome to the UK’ coffee mornings, wellbeing workshops and board games sessions.

The Church has continued to support Christian work with young people in the local community, and overseas work support has also continued in Vietnam and Nepal.

Kings Church appointed their interim leader as a permanent leader in May 2024.

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 for the year amounted to £1,824 (2023: surplus £2.872).

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 permanent 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:

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 4 February 2025 and signed on its behalf by:

Tim 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 2024.

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:

  1. accounting records were not kept in respect of Kings Church Wokingham as required by section 130 of the Act; or

  2. the accounts do not accord with those records; or

  3. 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 FCMA Independent Examiners Ltd 2 Broadbridge Business Centre Delling Lane Bosham Chichester West Sussex PO18 8NF

4 February 2025

Page 5

KINGS CHURCH WOKINGHAM

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 JUNE 2024

Note
Unrestricted
funds
£
Income and Endowments from:
Donations and legacies
2
58,978
Charitable activities
3
29,320
Investment income
4
2,118
Total income
90,416
Expenditure on:
Charitable activities
5
87,351
Total expenditure
87,351
Net
income/(expenditure)
3,065
Net movement in funds
3,065
Reconciliation of funds
Total funds brought
forward
468,321
Total funds carried
forward
13
471,386		 Restricted
funds
£
12,843
-
-
12,843
17,732
17,732
(4,889)
(4,889)
13,570
8,681		 Total
2024
£
71,821
29,320
2,118
103,259
105,083
105,083
(1,824)
(1,824)
481,891
480,067		 Total
2023
£
93,144
30,540
609
124,293
121,421
121,421
2,872
2,872
479,019
481,891

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 2024

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		 2024
£
294,223
294,223
9,226
180,291
189,517
(3,673)
185,844
480,067
8,681
471,386
480,067		 2023
£
300,770
300,770
10,194
174,169
184,363
(3,242)
181,121
481,891
13,570
468,321
481,891

The financial statements on pages 6 to 16 were approved by the Trustees, and authorised for issue on 4 February 2025 and signed on their behalf by:

Tim 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 2024

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 2024 (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 2024 (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 2024 (CONTINUED)

2 Income from donations and legacies

Unrestricted
funds
General
£
Donations and legacies;
Donations
45,884
Gift aid reclaimed
13,094
58,978
3 Income from charitable activities
Unrestricted
funds
General
£
Charitable activities
29,320
4 Investment income
Unrestricted
funds
General
£
Interest receivable and
similar income;
Interest receivable on
bank deposits
2,118		 Restricted
funds
£
12,843
-
12,843
Restricted
funds
£
-
Restricted
funds
£
-		 Total
2024
£
58,727
13,094
71,821
Total
2024
£
29,320
Total
2024
£
2,118		 Total
2023
£
78,488
14,656
93,144
Total
2023
£
30,540
Total
2023
£
609

Page 11

KINGS CHURCH WOKINGHAM

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 (CONTINUED)

5 Expenditure on charitable activities

Note
Events
General outreach
External
speakers
Youth and
children
Equipment
Sundry and
subscriptions
Training
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
£
1,810
89
2,165
94
203
3,445
248
2,826
3,558
3,433
560
3,203
49
305
995
1,031
26,010
164
1,980
8,006
10,112
17,065
87,351		 Restricted
funds
£
1,912
-
-
-
-
-
-
4,096
-
-
-
-
-
-
-
-
-
-
-
-
11,724
-
17,732		 Total
2024
£
3,722
89
2,165
94
203
3,445
248
6,922
3,558
3,433
560
3,203
49
305
995
1,031
26,010
164
1,980
8,006
21,836
17,065
105,083		 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

Page 12

KINGS CHURCH WOKINGHAM

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 (CONTINUED)

6 Grant-making

Analysis of grants

Grants to institutions 2024 2023 £ £ Grants 21,836 44,737

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		 2024
£
16,293
772
17,065		 2023
£
9,821
491
10,312

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 2024
No
3		 2023
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 2024 (CONTINUED)

9 Tangible fixed assets

Land and
buildings
£
Furniture
and
equipment
£
Cost
At 1 July 2023
365,104
17,177
Additions
-
-
At 30 June 2024
365,104
17,177
Depreciation
At 1 July 2023
65,718
17,177
Charge for the year
7,302
-
At 30 June 2024
73,020
17,177
Net book value
At 30 June 2024
292,084
-
At 30 June 2023
299,386
-
10 Debtors
Prepayments
Accrued income
11 Creditors: amounts falling due within one year
Other taxation and social security
Other creditors
Accruals		 Furniture
and
equipment
£
17,177
-		 Computer
equipment
£
15,070
1,459		 Total
£
397,351
1,459
398,810
96,581
8,006
104,587
294,223
300,770
2023
£
2,047
8,147
17,177 16,529
17,177
-		 13,686
704
17,177 14,390
- 2,139
- 1,384
2024
£
3,084
6,142
9,226
2024
£
86
1,556
2,031
3,673
10,194
2023
£
-
1,227
2,015
3,242

Page 14

KINGS CHURCH WOKINGHAM

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 (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 £772 (2023 - £491).

13 Funds

Unrestricted funds
General
General Funds
Restricted funds
Building fund
Specific gifts
Total funds		 Balance at
1 July 2023
£
468,321
7,419
6,151
13,570
481,891		 Incoming
resources
£
90,416
-
12,843
12,843
103,259		 Resources
expended
£
(87,351)
(4,096)
(13,636)
(17,732)
(105,083)		 Balance at
30 June
2024
£
471,386
3,323
5,358
8,681
480,067

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 2024 (CONTINUED)

Balance at
1 July 2022
£
Unrestricted funds
General
General Funds
458,998
Restricted funds
Building fund
15,524
Specific gifts
4,497
20,021
Total funds
479,019
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
£
112,321
-
11,972
11,972
124,293
Unrestricted
funds
General
£
294,223
180,836
(3,673)
471,386
Unrestricted
funds
General
£
300,770
170,793
(3,242)
468,321		 Resources
expended
£
(102,998)
(8,105)
(10,318)
(18,423)
(121,421)
Restricted
funds
£
-
8,681
-
8,681
Restricted
funds
£
-
13,570
-
13,570		 Balance at
30 June
2023
£
468,321
7,419
6,151
13,570
481,891
Total funds
at 30 June
2024
£
294,223
189,517
(3,673)
480,067
Total funds
at 30 June
2023
£
300,770
184,363
(3,242)
481,891

Page 16