Charity number: 1195036
## KEYS OF THE KINGDOM MINISTRIES
Report of the Trustees and Unaudited Financial Statements
For the year ended 31 March 2024
KEYS OF THE KINGDOM MINISTRIES Contents Page For the year ended 31 March 2024
|Report of the Trustees|1 to 3|
|---|---|
|Independent Examiner's Report to the Trustees|4|
|Statement of Financial Activities|5|
|Statement of Financial Position|6|
|Notes to the Financial Statements|7 to 10|
|Detailed Statement of Financial Activities|11|
## KEYS OF THE KINGDOM MINISTRIES Report of the Trustees
## For the year ended 31 March 2024
The Trustees have pleasure in presenting their report and the financial statements for the charity for the year ended 31 March 2024. 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 2024
## **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 are taking place in KKM- LSFI Tooting (Main), 7 Outreaches and 1 District within the UK.
B.Believers Foundational Teaching Course was conducted in different outreaches which led most of the graduating students to enroll in Life in the Spirit School of Ministry (LSSM) afterwards.
C.LSSM 8th batch (school year 2023-2024) in the Main Church commenced and will be finished by May 2024.
D.Wednesday Prayer Meeting, Friday Prayer Service and pre-Service Prayer Meetings are conducted regularly. 7 Days of Congregational Prayer & Fasting on 2nd week of January & 1st week of 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 (men, women, youth, and children) are gathering 3 times a month.
F.Regular Shepherd's Class and HCG Training 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 fellowship is conducted regularly; the Chosen Ladies of Zion (CLZ) are gathering according to their schedule.
I.Children's Sunday School is 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 are increasing in number and membership.
L.Media Ministry are very effective & instrumental in providing social media means of online worship service, prayer meeting, preaching, teaching, seminars, bible studies, and counselling i.e., Facebook, YouTube & Zoom.
M.Anniversary Celebration in October 2023 was well attended by about 500 people during 3-day activities.
N.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 9 charities, namely: Far East Broadcasting Corporation, World Vision, Joseph's Store House, Prison Fellowship, Tear Fund, Agape World Mission, Shelter, Open Doors, and Keys to the Harvest Trust.
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.
We will continue to endeavor by God's grace and through the faithfulness of everyone involved in achieving the objectives of the church and the charity.
## **FINANCIAL REVIEW**
The net surplus for the year amounted to £100,829.68, which is attributable to general reserves for the charity.
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KEYS OF THE KINGDOM MINISTRIES Report of the Trustees Continued For the year ended 31 March 2024
## **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 Mr JAMES LEMUEL ABUSTAN **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
............................................................................. 28 June 2024 Mr DENNIS COLOSO
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## KEYS OF THE KINGDOM MINISTRIES Independent Examiners Report to the Trustees
## For the year ended 31 March 2024
I report to the trustees on my examination of the accounts of the charity for the year ended 31 March 2024.
## **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:
1. accounting records were not kept in respect of the Charity as required by section 130 of the 2011 Act; or
2. the accounts do not accord with those records; or
3. 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
28 June 2024
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## KEYS OF THE KINGDOM MINISTRIES Statement of Financial Activities
## For the year ended 31 March 2024
|**Notes**
**Income and endowments from:**
Donations and legacies
2
Investments
3
Bank interest receivable
**Total**
**Expenditure on:**
Charitable activities
4/5
Evangelism
**Total**
**Net income**
**Reconciliation of funds**
Total funds brought forward
**Total funds carried forward**|**Unrestricted**
**funds**
**£**
427,153
6,162
**433,315**
(332,485)
**(332,485)**
**100,830**
473,350
**574,180**|**2023**
**£**
397,839
1,759|
|---|---|---|
|||**399,598**|
|||(295,748)|
|||**(295,748)**|
|||**103,850**
369,500|
|||**473,350**|
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## KEYS OF THE KINGDOM MINISTRIES Statement of Financial Position
## As at 31 March 2024
|**Notes**
**Fixed assets**
Tangible assets
9
Investments
**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**|**£**
**2024**
8,720
200,000
**208,720**
372,343
**372,343**
(6,883)
**365,460**
**574,180**
**574,180**
574,180
**574,180**|**£**
**2023**
8,864
-|
|---|---|---|
|||**8,864**|
|||476,657|
|||**476,657**|
|||(12,171)
**464,486**|
|||**473,350**|
|||**473,350**|
|||473,350|
|||**473,350**|
The financial statements were approved and authorised for issue by the Board and signed on its behalf by:
Mr ANALOU GALO Trustee
28 June 2024
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## KEYS OF THE KINGDOM MINISTRIES Notes to the Financial Statements
For the year ended 31 March 2024
## **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).
## **Going concern**
## **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
**osts of charitable activities by fund type**
**Unrestricted funds**
Evangelism|**2024**
**£**
427,153
**427,153**
**2024**
**£**
6,162
**6,162**
**2024**
**£**
332,485|**2023**
**£**
397,839|
|---|---|---|
|||**397,839**|
|||**2023**
**£**
1,759|
|||**1,759**|
|||**2023**
**£**
295,748|
## **3. Investment income**
## **4. Costs of charitable activities by fund type**
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KEYS OF THE KINGDOM MINISTRIES Notes to the Financial Statements Continued
For the year ended 31 March 2024
## **5. Costs of charitable activities by activity type**
|**Activities undertaken directly**
Evangelism
**et income/(expenditure) for the year**
This is stated after charging/(crediting):
Depreciation of owned fixed assets
Staff pension contributions
**taff costs and emoluments**
Total staff costs for the year ended 31 March 2024 were:
Salaries and wages
Pension costs
Staff|**2024**
**£**
332,485
**2024**
**£**
2,907
1,064
**2024**
**£**
87,187
1,064
**88,251**
**2024**
11
**11**|**2023**
**£**
295,748
**2023**
**£**
2,955
860|
|---|---|---|
|||**2023**
**£**
73,730
860|
|||**74,590**|
|||**2023**
11|
|||**11**|
## **6. Net income/(expenditure) for the year**
## **7. Staff costs and emoluments**
## **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 2024
## **9. Tangible fixed assets**
|**Cost or valuation**
At 01 April 2023
Additions
At 31 March 2024
**Depreciation**
At 01 April 2023
Charge for year
At 31 March 2024
**Net book values**
At 31 March 2024
At 31 March 2023
**Creditors: amounts falling due within one year**
Other creditors
Accruals and deferred income|**Fixtures and**
**Fittings**
**£**
9,750
821
**10,571**
4,265
1,577
**5,842**
**4,729**
**5,485**|**Computer**
**Equipment**
**£**
5,687
1,942
**7,629**
2,308
1,330
**3,638**
**3,991**
**3,379**
**2024**
**£**
4,183
2,700
**6,883**|**Total**
**£**
15,437
2,763|
|---|---|---|---|
||||**18,200**|
||||6,573
2,907|
||||**9,480**|
||||**8,720**|
||||**8,864**|
||||**2023**
**£**
2,471
9,700|
||||**12,171**|
## **10. Creditors: amounts falling due within one year**
## **12. Analysis of net assets between funds**
|**Unrestricted funds**
_General_
General|**Tangible**
**fixed assets**
**Investments**
**Net current**
**assets /**
**(liabilities)**
**Net Assets**
**£**
**£**
**£**
**£**
8,720
200,000
365,460
574,180|
|---|---|
||**8,720**
**200,000**
**365,460**
**574,180**|
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## KEYS OF THE KINGDOM MINISTRIES Notes to the Financial Statements Continued
For the year ended 31 March 2024
|**Previous year**
**Unrestricted funds**
_General_
General|**Tangible**
**fixed assets**
**Investments**
**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 Detailed Statement of Financial Activities
For the year ended 31 March 2024
|**INCOME AND ENDOWMENT**
**Donations and legacies**
Donations
Gift Aid
**Investments**
Bank Interest Receivable
**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
Software Cost
Dbs
Health & Safety
Water Rates
Donation To Charities
**Total resources expended**
**Net Income**|**£**
**2024**
326,064
101,089
**427,153**
6,162
**6,162**
**433,315**
(87,187)
(1,064)
(2,907)
-
(19,366)
(16,393)
(131,589)
(960)
-
(9,213)
(279)
(1,467)
(537)
(1,128)
(1,011)
(1,158)
(224)
(1,082)
(20,204)
(5,150)
(27,977)
(32)
(497)
(238)
(167)
(190)
(1,274)
(1,191)
**(332,485)**
**(332,485)**
**100,830**|**£**
**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**|
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