Trustees Annual Report Statement of Annual Accounts
Year ended 31[st] December 2024
CIO Registered No 1193371
Kingsway, Newton Chester CH2 2LH
Kingsway Chapel, Chester – 2024 Statement of Annual Accounts
ANNUAL REPORT AND FINANCIAL STATEMENTS
For the year ended 31[st] December 2024
| Page | |
|---|---|
| Trustees' Annual Report | 3-5 |
| Independent Examiner's Report | 6 |
| Main Receipts and Payments Accounts | 7 |
| Statement of Assets and Liabilities | 8 |
| Notes to the Financial Statements | 8-10 |
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Kingsway Chapel, Chester – 2024 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 2024 to 31[st] December 2024 Principal address: Kingsway Newton Chester CH2 2LH Trustees: Mr A Armson Mrs B Armson Mr D Cracknell (Secretary) Mr. A Dykes Mr M E Lister 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 Richard Smith FCA c/o UHY Hacker Young 4[th] Floor, Merchants House Crook Street Chester CH1 2BE
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Kingsway Chapel, Chester – 2024 Statement of Annual Accounts
TRUSTEES' ANNUAL REPORT (continued)
Throughout 2024, 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.
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 in-person meetings at the Chapel building, and online provision. Topics for our Sunday programme included a series from the 1 Corinthians, a series entitled “We believe” exploring key doctrines of our faith, as well as looking at selected passages from Jeremiah. We continued with regular Family Sundays – all age services - with the intention of connecting with families from the wider community.
Our regular activities included Knit and Natter, Coffee Morning drop-in group and Stay & Play, and Kids Club for children of Primary School age.
We also have a number of small groups that meet every week in various locations. This year we have seen two new groups start, while one has closed. Currently there are 7 groups meeting each week.
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 above our general expenditure for the year. Our goal is to increase our general income to cover the cost
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Kingsway Chapel, Chester – 2024 Statement of Annual Accounts
of our Family and Childrens Leader (currently covered by a Designated Fund). This year we made significant progress towards this goal.
The majority of our income comes from the regular giving of our church members. This year that amounted to £66,196.16. which accounts for approx.. 83% of all general income, with £5,559.51 coming from donations from activities in the building (7% of all general income).
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 £34,000. 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 April 2025.
Signed on behalf of all of the trustees
……………………………………………………. ……………………………………………………. G Thompson D Cracknell Chairman Secretary
Date: 11 August 2025
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Kingsway Chapel, Chester – 2024 Statement of Annual Accounts
INDEPENDENT EXAMINER'S REPORT
To the Trustees of Kingsway Chapel, Chester Registered Charity No ~~1~~ 193371
I report to the trustees on my examination of the accounts of Kingsway Chapel (the CIO) for the year ended 31 December 2024, which are set out on pages 7 to 10.
Responsibilities and basis of report
As the charity trustees of the CIO 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 CIO’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 2011 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 the Trust as required by section 130 of the Act; or
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2) the accounts do not accord with those records.
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.
Mr Richard Smith FCA
c/o UHY Hacker Young 4[th] Floor, Merchants House Crook Street Chester CH1 2BE
Date: 11 August 2025
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Kingsway Chapel CIO - Year ending 31 December 2024
RECEIPTS AND PAYMENTS ACCOUNT
| Receipts | Unrestrictred | Restrictred | Total Fund | Last Year |
|---|---|---|---|---|
| Fund | Funds | (2023) | ||
| Gift Aid Giving | 34,600.00 | 34,600.00 | 32,571.00 | |
| Gift Aid Income Tax Refund | 8,255.33 | 8,255.33 | 7,599.25 | |
| Gift Aid Small Donations Eligible Giving | 3,076.88 | 3,076.88 | 4,304.77 | |
| Gift Aid Small Donations Tax Refund | 1,994.95 | 1,994.95 | 1,979.09 | |
| Non Gift Aid Giving | 18,269.00 | 18,269.00 | 12,441.27 | |
| Bank Interest | 2,669.14 | 2,669.14 | 2,480.63 | |
| Stay & Play | 3,036.53 | 3,036.53 | 3,359.00 | |
| Kids Club | 284.50 | 284.50 | 356.54 | |
| Gifts for use of premises | 2,239.00 | 2,239.00 | 2,514.05 | |
| Other / Sundry income | 185.00 | 185.00 | 323.25 | |
| Mission | 610.00 | 610.00 | 130.00 | |
| Gifts in Memoriam | 2,982.00 | 2,982.00 | 0.00 | |
| Mercy Recue Trust | 1,235.00 | 1,235.00 | 868.59 | |
| Care | 0.00 | 200.00 | 200.00 | 451.87 |
| Christmas Card Collection | 142.00 | 142.00 | 0.00 | |
| MacMillan Coffee Morning | 252.25 | 252.25 | 241.21 | |
| Mercy Rescue Trust | 1,092.36 | 1,092.36 | 647.01 | |
| Tearfund | 0.00 | 0.00 | 1,044.00 | |
| Bible Society | 169.00 | 169.00 | 273.52 | |
| Foodbank | 0.00 | 0.00 | 20.00 | |
| Reach Coffee Morning | 144.10 | 144.10 | ||
| TOTAL RECEIPTS | 79,437.33 | 1,999.71 | 81,437.04 | 71,605.05 |
| Payments | Unrestrictred | Restrictred | Total Fund | Last Year |
| Fund | Funds | (2023) | ||
| Capital Work | 553.34 | 553.34 | 8,585.00 | |
| Care Fund | 1,248.00 | 1,248.00 | 313.99 | |
| Staff Renumeration | 54,848.80 | 54,848.80 | 69,489.76 | |
| General Expenditure | 16,764.98 | 16,764.98 | 16,131.73 | |
| Missionary | 8,109.90 | 8,109.90 | 8,595.79 | |
| Outreach | 2,535.32 | 2,535.32 | 2,719.44 | |
| Societies & Gifts | 1,140.00 | 1,140.00 | 1,219.10 | |
| Training | 0.00 | 0.00 | 270.00 | |
| Bible Society | 169.00 | 169.00 | 273.52 | |
| Care | 200.00 | 200.00 | ||
| Christmas Card Collection | 142.00 | 142.00 | 0.00 | |
| McMillan | 252.25 | 252.25 | 241.21 | |
| Mercy Rscue Trust | 1,092.36 | 1,092.36 | 407.45 | |
| Tearfund | 0.00 | 0.00 | 1,044.00 | |
| Food Bank | 0.00 | 0.00 | 20.00 | |
| Reach Coffee Morning | 144.10 | 144.10 | ||
| TOTAL PAYMENTS | 85,200.34 | 1,999.71 | 87,200.05 | 109,310.99 |
| Net of receipts / (payments) | -5,763.01 | 0.00 | -5,763.01 | -37,705.94 |
| Transfers between Funds | 0.00 | 0.00 | 0.00 | |
| Cash Funds as at 1 January 2024 | 146,315.42 | 0.00 | 146,315.42 | |
| Cash Funds at 31 December 2024 | 140,552.41 | 0.00 | 140,552.41 |
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STATEMENT OF ASSETS AND LIABILITIES
| CASH FUNDS | Unrestricted | Restricted | Total Fund | Last Year |
|---|---|---|---|---|
| Fund | Funds | (2023) | ||
| HSBC Current Account | 3,140.41 | 3,140.41 | 1,551.75 | |
| HSBC Deposit Account | 137,669.14 | 137,669.14 | 145,640.08 | |
| Uncleared cheques | 332.14 | 25.00 | 357.14 | 1,493.54 |
| Uncleared income | 100.00 | 100.00 | 617.13 | |
| TOTAL | 140,577.41 | 140,552.41 | 146,315.42 |
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 2024 | Last Year (2023) | |
| Salary | 51,047.10 | 64,205.59 |
| Employer's National Insurance | ||
| Employers' pension contribution | 2,478.00 | 3,751.67 |
| Accommodation | - | - |
| Expenses | 1,323.70 | 1,532.50 |
| 54,848.80 | 69,489.76 | |
| 3. General Expenditure | ||
| Jan/Dec 2024 | Last Year (2023) | |
| Administration | 693.45 | 841.26 |
| Bank Charges | 119.99 | 122.34 |
| Caretaking and Materials | 637.90 | 785.58 |
| Catering | 388.52 | 1,063.62 |
| Copyright licences & Subscriptions | 1,162.01 | 1,323.08 |
| Maintenance, Equipment & Repairs | 2,664.24 | 1,289.39 |
| Utilities and Insurance | 10,463.87 | 10,110.46 |
| Professional Fees + Trust costs | 535.00 | 496.00 |
| Speakers Expenses | 100.00 | 100.00 |
| 16,764.98 | 16,131.73 | |
| 4. Missionary support | ||
| Jan/Dec 2024 | Last Year (2023) | |
| Chester Christian Schools Worker | 453.60 | 453.60 |
| Mary Ratter ~ Democratic Republic of Congo | 3,400.00 | 3,400.00 |
| Other | 656.30 | 315.79 |
| Mercy Rescue Trust | 3,600.00 | 4,339.56 |
| 8,109.90 | 8,508.95 |
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NOTES (continued)
| 5. Societies and Gifts | ||||||
|---|---|---|---|---|---|---|
| Jan/Dec 2024 | Last Year (2023) | |||||
| Reach Counselling | 540.00 | 540.00 | ||||
| Link Up | 600.00 | 679.10 | ||||
| 1,140.00 | 1,219.10 | |||||
| 6. Outreach | ||||||
| Jan/Dec 2024 | Last Year (2023) | |||||
| General Outreach | 2,535.32 | 2,719.44 | ||||
| Fun Day | - | - | ||||
| 2,535.32 | 2,719.44 | |||||
| 7. Restricted Funds | ||||||
| Opening BalanReceipts | Payments | Transfers | Closing Balance | |||
| Mercy Rscue Trust | 1,092.36 | 1,092.36 | 0.00 | |||
| Christmas Card Collection | 142.00 | 142.00 | 0.00 | |||
| MacMillan Coffee Morning | 252.25 | 252.25 | 0.00 | |||
| Reach Coffee Morning | 144.10 | 144.10 | 0.00 | |||
| Bible Society | 169.00 | 169.00 | 0.00 | |||
| 0.00 | ||||||
| Total Restricted | 0.00 | 1,799.71 | 1,799.71 | 0.00 | 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 2024 the monies went to Reach Counselling.
The Macmillan coffee morning fund relates to funds raised to support the Macmillan Cancer Support charity.
Reach Coffee Morning relates to funds raised to support Reach Counselling.
Bible Society relates to donations raised for the The Bible Society.
8. Unrestricted Funds
| Opening Balance |
Receipts | Payments | Transfers | Closing Balance |
||
|---|---|---|---|---|---|---|
| Unrestricted Funds | 27,836.89 | 81,437.04 | 74,517.91 | 0.00 | 34,756.02 | |
| Designated Funds: | ||||||
| Family & Childrens Leader | 45,754.90 | 0.00 | 12,128.80 | 0.00 | 33,626.10 | |
| Building Fund | 72,723.63 | 0.00 | 553.34 | 0.00 | 72,170.29 | |
| Total Designated Fund | 118,478.53 | 0.00 | 12,682.14 | 0.00 | 105,796.39 | |
| Total Unrestricted | 146,315.42 | 81,437.04 | 87,200.05 | 0.00 | 140,552.41 |
Family and Childrens Leader fund relates to monies set aside to fund the wages of an 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 2024, which are set out on pages 7 to 12, on the 17 April 2025
G Thompson David Cracknell Chair Secretary Date: 11 August 2025
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