Trustees Annual Report Statement of Annual Accounts
Year ended 31[st] December 2023
CIO Registered No 1193371
Kingsway, Newton Chester CH2 2LH
Kingsway Chapel, Chester - 2023 Statement of Annual Accounts
ANNUAL REPORT AND FINANCIAL STATEMENTS
For the year ended 31[st] December 2023
| Page | |
|---|---|
| Trustees' Annual Report | 3-5 |
| Independent Examiner's Report | 6 |
| Main Income and Expenditure Accounts | 7 |
| Statement of Assets and Liabilities | 8 |
| Notes to the Financial Statements | 8-10 |
CIO Registered No 1193371 Kingsway Chapel Chester Page 2 of 10
Kingsway Chapel, Chester - 2023 Statement of Annual Accounts
TRUSTEES' ANNUAL REPORT
Legal and Administrative Information
Charity name: Kingsway Chapel CIO Registered Number: 1193371 For the financial year: 1[st] January 2023 to 31[st] December 2023 Principal address: Kingsway Newton Chester CH2 2LH Trustees: Mr A Armson Mr D Cracknell (Secretary) Mr. A Dykes Mr M E Lister Mrs H Evans Mr B Fitzpatrick Mr G Thompson (Chairman) Mr D Tooley Governing document: Constitution of a Charitable Incorporated Organisation (CIO) whose only voting members are its Charity Trustees, registered on 2 February 2021. Objects of the charity: (a) to advance the Christian faith by the promotion of the Gospel of Jesus Christ in accordance with the essential doctrines and articles of belief set down in the Statement of Faith and to extend the Christian faith throughout the United Kingdom and elsewhere (b) to support, teach, instruct and otherwise encourage in the Christian faith those who profess to be committed Christians or others enquiring about the Christian faith Bankers: HSBC plc PO Box 16 47 Eastgate Street Chester CH1 1XW Independent examiner: Mr Paul Harris FCA Haswell Brothers LLP 1[st] Floor Pembroke House Ellice Way Wrexham Technology Park Wrexham LL13 7 YT
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Kingsway Chapel, Chester - 2023 Statement of Annual Accounts
TRUSTEES' ANNUAL REPORT (continued)
Throughout 2023, the trustees have worked closely with our Leadership Team to support the work and worship of Kingsway Chapel. With the Leadership Team and our church members we share a deep commitment to sharing the good news of Jesus Christ and to promoting spiritual growth in the church and a clear Christian witness through life and service in our local community and further afield. Over the year we have continued to see our church grow so that we now have greater diversity in our membership and a notable increase in our work with children and families.
The activities of Kingsway Chapel have been operated by the constitution of Kingsway Chapel CIO, and within the framework of a Foundation Constitution that set out our objectives, governance, management and structures. It included a Statement of Faith to which trustees subscribed. The spiritual direction and day to day management was delegated to a Leadership Team, among whom is our pastor, Geoff Thompson, a full-time paid employee who is the link between the trustees and the Leadership Team. The Trustees met four times during the year and one of those meetings was a joint meeting between trustees and Leadership Team as outlined in our Constitution. Significant decisions (e.g., with implications for safeguarding, finance, employment, pay and conditions, or capital work) were made by the Trustees in close consultation with the Leadership Team and, where appropriate, church members. We work together with other Christian Churches, faith groups, agencies and organisations but we are an independent evangelical church at the heart of our local community. New trustees are nominated and appointed by the CIO in consultation with the Leadership Team.
The majority of trustees are current church members but there are two from outside the church to provide an independent perspective. Trustees bring skills, experience and previous training with them, often from their work, professional background or membership of other charities but if necessary new trustees are offered training as part of their induction. Training or support for all trustees, including updating on legal changes or Charity Commission guidance, is provided informally or in training sessions as necessary.
During the year, we have continued to monitor the extent to which we meet our obligations in relation to finance, insurance, health, safety and fire regulations. The CIO has taken account of the briefings and guidance provided by the Charity Commission in setting and reviewing policies and practice, especially our financial, safeguarding and data protection arrangements. We take full account of the Charity Commission’s guidelines on public benefit and the environmental and social impact. We serve our community openly, welcoming people into our church and reaching out into our community as an integral part of our Christian faith commitment and discipleship in Jesus Christ. We have provided the Commission with the basis upon which we fulfil the requirements of charitable status. We seek to maintain a clear witness and regular Christian prayer, worship and pastoral support, responding to the needs of our members, local community and wider world through activities and with facilities as set out below.
We thank God for the dedication and hard work of our church members, the Leadership Team, trustees and those of our members who have taken responsibility for particular aspects of the work of our church.
Activities
Through the year our Sunday programme has continued with a mix of in-person meetings at the Chapel building, and online provision. Topics for our Sunday programme included a series from the Sermon on the Mount in Matthew’s Gospel, a series exploring the question “Why Church?”, as well as teaching from Colossians and an overview of Romans. We continued with regular Family Sundays – all age services - with the intention of connecting with families from the wider community.
Through the year we ran three Alpha Courses which were well received by all who participated. Our regular activities included Knit and Natter, Coffee Morning drop-in group and Stay & Play, and Kids Club for children of Primary School age.
During the year we were able to appoint a new Family and Childrens Leader working two days per week. This will enable us to strengthen our work particularly with primary school aged children.
The end of 2023 also sees the end of the contract with our Evangelist, who will be moving on to a new position in 2024. We are thankful to God for the input and encouragement that Alan Saunders has brought to this role over the last three years.
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Kingsway Chapel, Chester - 2023 Statement of Annual Accounts
Finances
We are in a strong financial position having received significant legacies over recent years. This has enabled us to allocated certain funds to specific projects and the spending on these projects is shown in the overall deficit on the year. If you remove these projects from the income and expenditure figures, our general income has been slightly above our general expenditure for the year.
Our expenses have been well managed by our finance team, keeping our general expenses in line with our general income. We are holding a significant sum of money which we are planning to use for projects over the next couple of years. Once these balances are taken into consideration, we are holding a surplus of approximately £28,000. We are still committed to holding a minimum £10,000 cash reserve.
Facilities
We are grateful to have good facilities, and it has been encouraging to see the building open up again for various activities. We continue to host the Chester base for Reach Counselling, and have welcomed other counselling providers to use these facilities this year. We have continued to welcome other groups into our building, including those with an emphasis on Bible teaching and prayer. Our Buildings and Services Team have taken care of minor maintenance and kept the building in good condition, for which we are very thankful.
Declaration
The Trustees’ Report above was received and agreed at the Trustees' Annual General Meeting, on the 18[th] April 2024.
Signed on behalf of all of the trustees
G Thompson Chairman
D Cracknell Secretary
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Kingsway Chapel, Chester - 2023 Statement of Annual Accounts
INDEPENDENT EXAMINER'S REPORT
To the Trustees of Kingsway Chapel, Chester Registered Charity No 1193371
I report on the financial statements of the charity for the year ended 31st December 2022, which are set out on pages 7 to 10.
Respective responsibilities of trustees and examiners
As the charity trustees of the trust, 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 Trust’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination, I have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Basis of independent examiner's report
My examination was carried out in accordance with general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a ‘true and fair’ view and the report is limited to those matters set out in the statement below.
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 which gives me cause to believe that in, any material respect:
-
accounting records were not kept in respect of the charity as required by section 130 of the Act; or
-
the accounts do not accord with those records; or
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Paul Harris FCA Chartered Accountant
Date: 24[th] October 2024
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Kingsway Chapel CIO - Year ending 31 December 2023
RECEIPTS AND PAYMENTS ACCOUNT
| Receipts | Unrestrictred Fund | Restrictred Funds | Total Fund | Last Year (2022) |
|---|---|---|---|---|
| Gift Aid Giving | 32,571.00 | 32,571.00 | 30,587.00 | |
| Gift Aid Income Tax Refund | 7,599.25 | 7,599.25 | 5,453.50 | |
| Gift Aid Small Donations Eligible Giving | 4,304.77 | 4,304.77 | 3,925.95 | |
| Gift Aid Small Donations Tax Refund | 1,979.09 | 1,979.09 | 898.89 | |
| Non Gift Aid Giving | 12,441.27 | 12,441.27 | 10,623.00 | |
| Bank Interest | 2,480.63 | 2,480.63 | 410.27 | |
| Stay & Play | 3,359.00 | 3,359.00 | 3,170.66 | |
| Kids Club | 356.54 | 356.54 | ||
| Gifts for use of premises | 2,514.05 | 2,514.05 | 1,345.60 | |
| Other / Sundry income | 323.25 | 323.25 | 711.98 | |
| Mission | 130.00 | 130.00 | 210.00 | |
| Gifts in Memoriam | 0.00 | 0.00 | 0.00 | |
| Mercy Recue Trust | 868.59 | 868.59 | 150.00 | |
| Care | 451.87 | 451.87 | 1,297.00 | |
| Evangelist Accomodation | 0.00 | 0.00 | 2,890.61 | |
| Christmas Card Collection | 0.00 | 101.10 | ||
| MacMillan Coffee Morning | 241.21 | 241.21 | 208.60 | |
| Mercy Rescue Trust | 647.01 | 647.01 | 5,649.00 | |
| Dee Miller House | 0.00 | 0.00 | 4,191.58 | |
| Tearfund | 1,044.00 | 1,044.00 | 310.00 | |
| Bible Society | 273.52 | 273.52 | 0.00 | |
| Ukraine Appeal | 0.00 | 0.00 | 913.16 | |
| Food Bank | 20.00 | 20.00 | ||
| TOTAL RECEIPTS | 69,379.31 | 2,225.74 | 71,605.05 | 73,047.90 |
| Payments | Unrestrictred | Restrictred Funds | Total Fund | Last Year (2022) |
| Fund | ||||
| Capital Work | 8,585.00 | 8,585.00 | 0.00 | |
| Care Fund | 313.99 | 313.99 | 4,150.00 | |
| Staff Renumeration | 69,489.76 | 69,489.76 | 67,760.96 | |
| General Expenditure | 16,131.73 | 16,131.73 | 11,066.37 | |
| Missionary | 8,508.95 | 8,508.95 | 4,058.34 | |
| Outreach | 2,719.44 | 2,719.44 | 4,268.59 | |
| Societies & Gifts | 1,219.10 | 1,219.10 | 1,140.00 | |
| Training | 270.00 | 270.00 | 130.00 | |
| Bible Society | 273.52 | 273.52 | 0.00 | |
| Ukraine Appeal | 0.00 | 0.00 | 1,000.00 | |
| Christmas Card Collection | 0.00 | 0.00 | 101.10 | |
| MacMillan Coffee Morning | 241.21 | 241.21 | 208.60 | |
| Mercy Rscue Trust | 407.45 | 407.45 | 6,275.01 | |
| AYDF | 0.00 | 0.00 | 0.00 | |
| Tearfund | 1,044.00 | 1,044.00 | 310.00 | |
| Food Bank | 20.00 | 20.00 | ||
| Dee Miller | 0.00 | 0.00 | 2,368.00 | |
| TOTAL PAYMENTS | 107,237.97 | 1,986.18 | 109,224.15 | 102,836.97 |
| Net of receipts / (payments) | -37,858.66 | 239.56 | -37,619.10 | -29,789.07 |
| Transfers between Funds (Ukraine Appeal) | -86.84 | 86.84 | 0.00 | 0.00 |
| Cash Funds as at 1 January 2023 | 184,260.92 | -326.40 | 183,934.52 | 213,723.59 |
| Cash Funds at 31 December 2023 | 146,315.42 | 0.00 | 146,315.42 | 183,934.52 |
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STATEMENT OF ASSETS AND LIABILITIES
| CASH FUNDS | **Unrestricted Fund ** | Restricted Funds | Total Fund | Last Year (2022) |
|---|---|---|---|---|
| HSBC Current Account | 1,551.75 | 0.00 | 1,551.75 | 185.32 |
| HSBC Deposit Account | 145,640.08 | 0.00 | 145,640.08 | 184,122.30 |
| Uncleared cheques | -1,493.54 | 0.00 | -1,493.54 | 0.00 |
| Uncleared income | 617.13 | 0.00 | 617.13 | 373.10 |
| TOTAL | 146,315.42 | 0.00 | 146,315.42 | 183,934.52 |
| ASSETS RETAINED FOR THE CHARITY'S OWN USE | ||||
| Detail | Fund to which asset belongs |
Insurance Valuation |
||
| Kingsway Chapel Building and Land | Unrestricted | 2,163,752 | ||
| Chapel Building Contents | Unrestricted | 174,103 |
The insurance valuations detailed above represent the best estimates of re-building and replacement costs.
NOTES
1. Basis of Preparation
The accounts have been prepared on the "receipts and payments" basis in accordance with Section 133 of the Charities Act 2011.
2. Staff remuneration
| 2. Staff remuneration | ||
|---|---|---|
| Jan/Dec 2023 | Last Year (2022) | |
| Salary | 64,205.59 | 53,158.47 |
| Employer's National Insurance | 137.18 | |
| Employers' pension contribution | 3,751.67 | 2,368.86 |
| Accommodation | - | 9,107.55 |
| Expenses | 1,532.50 | 2,988.90 |
| 69,489.76 | 67,760.96 | |
| 3. General Expenditure | ||
| Jan/Dec 2023 | Last Year (2022) | |
| Administration | 841.26 | 1,282.04 |
| Bank Charges | 122.34 | 108.46 |
| Caretaking and Materials | 785.58 | 465.10 |
| Catering | 1,063.62 | 550.64 |
| Copyright licences & Subscriptions | 1,323.08 | 965.85 |
| Maintenance, Equipment & Repairs | 1,289.39 | 1,483.23 |
| Utilities and Insurance | 10,110.46 | 5,582.05 |
| Professional Fees + Trust costs | 496.00 | 629.00 |
| Speakers Expenses | 100.00 | - |
| 16,131.73 | 11,066.37 | |
| 4. Missionary support | ||
| Jan/Dec 2023 | Last Year (2022) | |
| Chester Christian Schools Worker | 453.60 | 453.60 |
| Mary Ratter ~ Democratic Republic of Congo | 3,400.00 | 3,400.00 |
| Other | 315.79 | 204.74 |
| Mercy Rescue Trust | 4,339.56 | - |
| 8,508.95 | 4,058.34 |
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5. Societies and Gifts
| 5. Societies and Gifts | |||||
|---|---|---|---|---|---|
| Jan/Dec 2023 | Last Year (2022) | ||||
| Reach Counselling | 540.00 | 540.00 | |||
| Link Up | 679.10 | - | |||
| Mercy Rescue Trust | - | 600.00 | |||
| 1,219.10 | 1,140.00 | ||||
| 6. Outreach | |||||
| Jan/Dec 2023 | Last Year (2022) | ||||
| General Outreach | 2,719.44 | 4,245.30 | |||
| Fun Day | - | 23.29 | |||
| 2,719.44 | 4,268.59 | ||||
| 7. Restricted Funds | |||||
| Opening Balance | Receipts | Payments | Transfers | Closing Balance | |
| Mercy Rescue Trust | -239.56 | 647.01 | 407.45 | 0.00 | |
| Christmas Card Collection | 0.00 | 0.00 | 0.00 | ||
| MacMillan Coffee Morning | 241.21 | 241.21 | 0.00 | ||
| Dee Miller House | 0.00 | 0.00 | 0.00 | ||
| Tearfund | 1,044.00 | 1,044.00 | 0.00 | ||
| Bible Society | 273.52 | 273.52 | 0.00 | ||
| Food Bank | 20.00 | 20.00 | 0.00 | ||
| Ukraine Appeal | -86.84 | 0.00 | 0.00 | 86.84 | 0.00 |
| Total Restricted | -326.40 | 2,225.74 | 1,986.18 | 86.84 | 0.00 |
The Mercy Trust Rescue fund relates to donations made in support of a Mercy Rescue Trust who run a baby rescue centre in Kenya.
The Christmas Card Collection fund relates to a donation arising from a special collection representing the amounts saved by individuals not posting Christmas cards. A different charity is chosen each year, and in 2023 the monies went to Mercy Rescue Trust.
The Macmillan coffee morning fund relates to funds raised to support the Macmillan Cancer Support charity.
The Dee Miller House fund relates to donations made in support of the purchase of a residence to be used by pastors during their term of office at the Chapel. As the purchase did not go ahead the funds raised were transferred to the unrestricted general fund with the permission of the donors in the previous year.
The Tearfund fund relates to a donation arising from a special collection in aid of the work of the Tearfund charity.
Bible Society relates to donations raised for the The Bible Society.
Food Bank relates to donations received for the Cheshire West and Chester Foodbank.
The Ukraine Appeal Fund relates to a donation arising from a special collection in aid of victims of the Ukraine war.
8. Unrestricted Funds
| Opening Balance | Receipts | Payments | Transfers | Closing Balance | |
|---|---|---|---|---|---|
| Unrestricted Funds | 30,109.37 | 71,605.05 | 70,410.27 | -3,554.40 | 27,836.59 |
| Designated Funds: | |||||
| Evangelist | 25,016.52 | 0.00 | 28,484.08 | 3,467.56 | 0.00 |
| Family & Childrens Leader | 0.00 | 1,744.80 | 47,500.00 | 45,755.20 | |
| Building Fund | 128,808.63 | 0.00 | 8,585.00 | -47,500.00 | 72,723.63 |
| Total Designated Fund | 153,825.15 | 0.00 | 38,813.88 | 3,467.56 | 118,478.83 |
| Total Unrestricted | 183,934.52 | 71,605.05 | 109,224.15 | -86.84 | 146,315.42 |
Evangelist fund related to that of the monies set aside to fund the wages of an evangelist from 2020-2023.
Family and Childrens Leader fund relates to monies set aside to fund the wages of a Family and Childrens Leader.
Building Fund relates to monies set aside towards costs associated with the Kingsway Chapel building.
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The Trustees approved the financial statements for the year ended 31st December 2023, which are set out on pages 7 to 10, on the 18 April 2024.
G Thompson David Cracknell Chair Secretary
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