Charity number: 1195036
KEYS OF THE KINGDOM MINISTRIES
Report of the Trustees and Unaudited Financial Statements
For the year ended 31 March 2023
KEYS OF THE KINGDOM MINISTRIES Contents Page For the year ended 31 March 2023
| Report of the Trustees | 1 to 4 |
|---|---|
| Independent Examiner's Report to the Trustees | 5 |
| Statement of Financial Activities | 6 |
| Statement of Financial Position | 7 |
| Notes to the Financial Statements | 8 to 10 |
| Detailed Statement of Financial Activities | 11 |
KEYS OF THE KINGDOM MINISTRIES Report of the Trustees
For the year ended 31 March 2023
The Trustees have pleasure in presenting their report and the financial statements for the charity for the year ended 31 March 2023. The Trustees have adopted the provisions of 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 the Republic of Ireland (FRS 102) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES
Objectives and aims
The trustees have considered the Charity Commision's guidance on public benefit, including the guidance 'public benefit: running a charity (PB2)'.
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KEYS OF THE KINGDOM MINISTRIES Report of the Trustees Continued
For the year ended 31 March 2023
ACHIEVEMENTS AND PERFORMANCE
Achievements against objectives
Report of the Trustees
ACHIEVEMENTS AND PERFORMANCE
The Trustees are pleased to report that the Church/Charity is continually pursuing its objectives of: ADVANCING THE CHRISTIAN FAITH
A.Regular Sunday services taking place in KKM- LSFI - Tooting (Main) and 8 Outreaches within the UK.
B.Believers Foundation School was conducted from February 2023 for 12 weeks which led to most of the graduating student to enroll in the Life in the Spirit School of Ministry (LSSM) afterwards.
C.LSSM is ongoing in our main church in Tooting - 8th batch.
D.Wednesday Prayer Meeting, Friday Prayer Service and pre-Service Prayer Meetings are conducted regularly. 7 Days of Congregational Prayer & Fasting on 1st week of January & June.
E.Home Cell Groups (HCG) are happening every week, every other week; new ones are being opened, latest being in Burton with currently 38 new members (youth, young adults and adults) gathering 3 times a month,
F.Regular Shepherds' Class and HCG workshops are well attended by leaders, potential leaders and members.
G.Advancement of the Gospel through placards, evangelical tracts & songs are being done as per evangelism schedule.
H.The Mighty Men of Valor's Cell Group joint fellowship were conducted regularly; the Chosen Ladies of Zion (CLZ) were gathering according to their schedule.
I.Children's Sunday School are regularly happening and well attended.
J.Vacation Bible School (VBS) for children was a success as testified by children and parents alike.
K.Well established Youth & Young Adult's Ministry; increasing in number and membership.
L.Mauritius- LSF Outreach is in progress; now supported & headed by one of our Pastors.
M.Media Ministry were very effective & instrumental in providing social media means of online worship service, preaching, teaching, seminars, bible studies, and counselling i.e., Facebook, YouTube & Zoom especially at the height of Covid Crisis.
N.Anniversary Celebration in October 2022 was well attended by over 500 people during 3-day activities.
O.Our Pastor has been involved in other Missions in Spain, Italy, France and Turkey through Preaching & Teaching, likewise in other International Outreaches.
THE PREVENTION OR RELIEF OF POVERTY IN THE UK AND THE WORLD
A.There is an ongoing commitment to financially support 8 charities, namely: Far East Broadcasting Corporation, World Vision, Joseph's Store House, Prison Fellowship, Tear Fund, Agape World Mission, Shelter & Open Doors.
B.Actively and financially supporting church's members in times of bereavement and loss of loved ones.
C.Providing regular, long term and/or one-off financial support to individuals awaiting employment or governments' benefits, based on thorough assessment of situation or need.
D.Providing national & international financial help directly and through agencies to individuals and families suffering from natural or manmade calamities.
E.Supporting the church ministry in the Philippines to care for street children and poor families by providing financial support as well as sending material goods.
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KEYS OF THE KINGDOM MINISTRIES Report of the Trustees Continued
For the year ended 31 March 2023
We will continue to endeavor by God's grace and the faithfulness of everyone involved in achieving the objectives of the church and the charity
REFERENCE AND ADMINISTRATIVE INFORMATION
Name of Charity KEYS OF THE KINGDOM MINISTRIES Charity registration number 1195036 Principal address 268 MITCHAM ROAD TOOTING LONDON SW17 9NT
Trustees
The trustees and officers serving during the year and since the year end were as follows:
Mr ANALOU GALO Mr DENNIS COLOSO Mr GILBERT DIAZ| Mrs JULIA BARFOOT Mrs MARIA THERESA ECHANO Independent examiners CHRIS ATKINS SERVICES ONE LIMITED OFFICE 310, ACCESS SELF STORAGE UNIT 1, MERIDIAN TRADING ESTATE 20, BUGBY'S WAY LONDON SE7 7SF
Approved by the Board of Trustees and signed on its behalf by
............................................................................. 18 October 2023 Mr DENNIS COLOSO
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KEYS OF THE KINGDOM MINISTRIES Independent Examiners Report to the Trustees
For the year ended 31 March 2023
I report to the trustees on my examination of the accounts of the charity for the year ended 31 March 2023.
Responsibilities and basis of report
As the charity trustees, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the 2011 Act').
I report in respect of my examination of the charity'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 examiners statement
Since the Charity's gross income exceeded £250,000, your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination by virtue of my membership of Institute of Financial Accountants, which is one of the listed bodies.
I have completed my examination. I confirm that no 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 the Charity as required by section 130 of the 2011 Act; or
-
the accounts do not accord with those records; or
-
the accounts do not comply with the applicable 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.
CHRIS ATKINS SERVICES ONE LIMITED OFFICE 310, ACCESS SELF STORAGE UNIT 1, MERIDIAN TRADING ESTATE 20, BUGBY'S WAY LONDON SE7 7SF
18 October 2023
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KEYS OF THE KINGDOM MINISTRIES Statement of Financial Activities For the year ended 31 March 2023
| Notes Income and endowments from: Donations and legacies 2 Investments 3 Bank interest receivable Other income 4 Deposit Total Expenditure on: Charitable activities 5 Evangelism Total Net income Reconciliation of funds Total funds brought forward Total funds carried forward |
Unrestricted funds £ 397,839 1,759 - 399,598 (295,748) (295,748) 103,850 369,500 473,350 |
2022 £ 119,878 - 351,898 |
|---|---|---|
| 471,776 | ||
| (102,276) | ||
| (102,276) | ||
| 369,500 - |
||
| 369,500 |
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KEYS OF THE KINGDOM MINISTRIES Statement of Financial Position As at 31 March 2023
| Notes Fixed assets Tangible assets 9 Current assets Cash at bank and in hand Creditors: amounts falling due within one year 10 Net current assets Total assets less current liabilities Net assets The funds of the charity Unrestricted income funds Total funds |
£ 2023 8,864 8,864 476,657 476,657 (12,171) 464,486 473,350 473,350 473,350 473,350 |
£ 2022 10,859 |
|---|---|---|
| 10,859 | ||
| 363,776 | ||
| 363,776 | ||
| (5,135) 358,641 |
||
| 369,500 | ||
| 369,500 | ||
| 369,500 | ||
| 369,500 |
The financial statements were approved and authorised for issue by the Board and signed on its behalf by:
Mr ANALOU GALO Trustee 18 October 2023
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KEYS OF THE KINGDOM MINISTRIES Notes to the Financial Statements
For the year ended 31 March 2023
1. Accounting Policies
Basis of accounting
The financial statements have been prepared under the historical cost convention, except for investments which are included at market value and the revaluation of certain fixed assets and in accordance with the Charities SORP (FRS 102) ‘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 2019)', Financial Reporting Standard 102 the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), and the Charities Act 2011.
KEYS OF THE KINGDOM MINISTRIES meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s).
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
2. Income from donations and legacies
| Unrestricted funds Donations received nvestment income Unrestricted funds Bank interest receivable ther income Deposit |
2023 £ 397,839 397,839 2023 £ 1,759 1,759 2023 £ - - |
2022 £ 119,878 |
|---|---|---|
| 119,878 | ||
| 2022 £ - |
||
| - | ||
| 2022 £ 351,898 |
||
| 351,898 |
3. Investment income
4. Other income
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KEYS OF THE KINGDOM MINISTRIES Notes to the Financial Statements Continued
For the year ended 31 March 2023
5. Costs of charitable activities by activity type
| Activities undertaken directly Evangelism 6. Net income/(expenditure) for the year This is stated after charging/(crediting): Depreciation of owned fixed assets Staff pension contributions 7. Staff costs and emoluments Total staff costs for the year ended 31 March 2023 were: Salaries and wages Pension costs Staff |
2023 £ 295,748 2023 £ 2,955 860 2023 £ 73,730 860 74,590 2023 11 11 |
2022 £ 102,276 2022 £ 3,620 - |
|---|---|---|
| 2022 £ - - |
||
| - | ||
| 2022 0 |
||
| 0 |
8. Comparative for the Statement of Financial Activities
The comparative year values on the Statement of Financial Activites are for unrestricted funds.
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KEYS OF THE KINGDOM MINISTRIES Notes to the Financial Statements Continued
For the year ended 31 March 2023
9. Tangible fixed assets
| Computer Equipment Fixtures and Fittings Cost or valuation £ £ 4,728 9,750 At 01 April 2022 959 - Additions At 31 March 2023 9,750 5,687 Depreciation 1,182 2,437 At 01 April 2022 Charge for year 1,126 1,828 2,308 4,265 At 31 March 2023 Net book values At 31 March 2023 At 31 March 2022 5,485 7,313 3,379 3,546 |
Total £ 14,478 959 |
|---|---|
| 15,437 | |
| 3,619 2,954 |
|
| 6,573 | |
| 8,864 | |
| 10,859 |
10. Creditors: amounts falling due within one year
| Other creditors Accruals and deferred income |
2023 £ 2,471 9,700 12,171 |
2022 £ 335 4,800 |
|---|---|---|
| 5,135 |
12. Analysis of net assets between funds
| Analysis of net assets between funds | |
|---|---|
| Unrestricted funds General General |
Tangible fixed assets Net current assets / (liabilities) Net Assets £ £ £ 8,864 464,486 473,350 |
| 8,864 464,486 473,350 |
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KEYS OF THE KINGDOM MINISTRIES Notes to the Financial Statements Continued
For the year ended 31 March 2023
Previous year
| Previous year | |
|---|---|
| Unrestricted funds General General |
Tangible fixed assets Net current assets / (liabilities) Net Assets £ £ £ 10,859 358,641 369,500 |
| 10,859 358,641 369,500 |
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KEYS OF THE KINGDOM MINISTRIES Detailed Statement of Financial Activities
For the year ended 31 March 2023
| INCOME AND ENDOWMENT Donations and legacies Donations Investments Bank Interest Receivable Other income Deposit Total incoming resources EXPENDITURE Charitable activities Staff Costs - Wages & Salaries Staff Costs - Pension Contributions Depreciation - Owned Assets Computer Consumables Repairs & Renewals Hall Hire Expenses Evangelism & Mission Cleaning Expenses Honorarium Travel & Motor Expenses Telephone Expenses Pps Insurance Website Advert & Media Light & Heat Subscriptions Bank Charges Professional Fees Accountancy Fee Welfare & Hospitality Sundry Expenses License Total resources expended Net Income |
£ 2023 397,839 397,839 1,759 1,759 - - 399,598 (73,730) (860) (2,955) (463) (4,352) (6,243) (145,346) (2,082) (500) (7,419) (639) (1,443) (14,677) (1,043) (529) (1,107) (345) (218) (4,118) (4,900) (22,291) (154) (334) (295,748) (295,748) 103,850 |
£ 2022 119,878 |
|---|---|---|
| 119,878 - |
||
| - 351,898 |
||
| 351,898 | ||
| 471,776 - - (3,620) (238) (3,048) (6,670) (58,470) (1,378) (1,500) (4,986) (487) (298) (492) (190) (417) (555) (112) (89) (509) (4,800) (13,867) (550) - |
||
| (102,276) | ||
| (102,276) | ||
| 369,500 |
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This page does not form part of the statutory financial statements