KING'S CHURCH LEICESTER King's Church Leicester Report and Accounts for the initial 12 months ended 31st August 2022 King's Church Leicester CHARITY INFORMATION FOR THE YEAR ENDED 31st AUGUST 2022 Trustees Mr Hugh Potter (Chairl Mr Howard Trigg Mrs Alison Newman Mr Danny Field (Appointed May 20211 Elders Mr Matthew Weedall Mr William Pearce Key Staff Mr Matthew Weedall (Lead Elderl Mr William Pearce (Administrator and Treasurer) GovernlnR Document Constitution dated 5th August 2021 Charity Regi5tratSon Number 1195653 Principal Address 54 Holmden Avenue Wigston LE18 2EF Independent Examiner Arthie McDowall BA, CA Stewardship l Lamb's Passage London ECIY 8AB Banker5 CAF Bank Ltd. 25 Kings Hill Avenue King's Hill West Mailing Kent ME19 4JQ Contents Charity Information Trustee5' Annual Report Independent Examiner's Report Statement of Financial Activities Balance Sheet Notes to the Accounts Page 24 8-13 Page 1 King's Church Leicester TRUSTEES. ANNUAL REPORT FOR THE YEAR ENDEO 31st AUGUST 2022 The trustees have pleasure in submitting the Report and Accounts for the year. Objects of the charity The charity 15 a charitable incorporated organisation and is governed by its Constitution. The object5 of the charity, as set out in the governing document are= al to advance the Christian faith in Leicester and such other parts of the United Kingdom and the world as the Charity Trustees may from time to time decide,. and bl to relieve persons in need by reason of their financial hardship, ill-health, age, unemployment or other social or economic disadvantage, including but not limited to, those attending the Church Fellowship or other churches in Leicester. The trustees note that the Church 15 not a buildin& but a gathering of ordinary people of different ages and backgrounds, whose lives have been changed by Jesus Christ, the Son of God. The New Testament revea15 the Church as a community of people. properly taught and cared for, who by loving and Se￿ing Jesus Christ. were also committed to love and care for each other and to bring a blessing to the area in which they lived. King's Church Leicester- its tru5tee5. elders and members are committed to the restoration of those New Testament principles. It is not alone in this, it is one of many Churthe5 in the area, country and all over the world that 15 re-discovering the excitement of knowing Jesus Christ. The vision is to see the people of Leicester come into this experience of knowing Jesus as their Lord, Saviour and friend. Summary of the charity's main activities and achievements To further the above objects and vision, the charity's main activities and achievements were as follows.. al The new CIO started the process of transfering assests from the exisiting Charitable Trust, assets have now been transferred, and most financial activity has also been transferred with anv OLrtstanding activity transferred to the the new CIO. bl In January, Mosaic Church Leicester stopped meeting With rn05t of it's congregation, including it's leadership team joined King's Church. Over the remainder of the year King's Church invested in integrate these new members into church life and support them pastorally with the tran51tion. In addition residual finances and assets belonging to Mosaic Church were transfered to the CIO. cl As part of Mosaic Church joining King's Church, King's Church took over operational leadership of Manor House Community. and its associated project5, whilst a new charity is established to run Manor House as its charitable activites. The foodbank served between 300400 households on a rolling 2 weeks at our foodbank. and gave out 325 Christmas hampers, comprising of all the ingredient5 for a Christmas dinner as well as sweet treats. dl In June we contucted our first baptismal se￿iCe since startin8 to meet again in person following COVID 19, and are hoping to be able to conduct more in the coming year. P4e2 Klng's Church Lelcester TRUSTEES. ANNUAL REPORT FOR THE YEAR ENOED 31st AUGUST 2022 el The church took 16 youth as well as leaders to Newday, a christian youth festival. The youth had great time together, and grew in the faith, as well as some who are not part of the church Bettin8 to experience something of what church is like. Most the charity's èctivities are undertaken by volunteers and the charity could not operate effectively without their efforts. In planning the activities the Trustees have applied the guidance on public benefit 15sued by the Charity Commission. Structure, Governance and Management Responsibility for setting policy and for determining the parameter5 Wlthin which the charity should operate rests with the trustees who meet regularly to monitor the activities of the charity. ResF)onsibility for the day to day operation of the charity ha5 been delegated to the eldership team led by Matthew Weedall. New trustees are recruited and appointed by the existing trustees, by a majority vote. Flnancial review During the initial year of the charity income was £154,614.41, and expenditure was £41,833.96. As a result surplus for the year was £112.780.45, the charity's net assets and net current assets were a150 finished the year at £112,780.45 Reserves policy The trustees have determined that the charity should aim to hold unrestricted cash of no less than £21.000 (which equates to about 3 months, of unrestricted expenditure) so that the charity could continue to operate should income and l or expenditure vary adversely. At the year end, the charity held unrestricted cash of £108.039.59 and the charity is complying with its reseNes policy. Key rlsks and uncertainties The charity is exposed to various risks - be they operational, financial or reputational. The trustees review the charity's activitie5 regularly to identify SiEnificant risks and, where possible, they take appropriate measure5 to mitigate those risks. Responsibilities of trustees under charlty law The trustee5 are responsible for preparing the trustees, annuèl report and the financial statements In accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Page 3 King's Church Leicester TRUSTEE5' ANNUAL REPORT FOR THE YEAR ENDED 31st AUGUST 2022 Charity law requires the tfU5tee5 to prepare financial statements for each financial year which give a true and fair view of the state of the affairs of the charity as at the balance sheet date and of its incoming resources and application of resources. including income and expenditure, for the financial year. In preparing these financial statements. the trustees are required to.. 1. select suitable accounting policies and apply them con5iStently: 2. observe the methods and principles in the Charities SORP- make judgements and estimates that are reasonable ènd prudent: 4. state whether the applicable accounting Standards have been followed, subject to any material departures disc105ed and explained in the financial statements,. and 5. prepare the financial statement5 On a going concern basi5 unless it is inappropriate to presume that the charity will continue in operation. The trustees are responsible for keeping proper accounting records that disc105e 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 and the Charity IAccounts and Reports) Regulations 2008. They are also responsible for safeguarding the a55ets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Approval This report was approved by the trustees and signed on their behalf bv: Hugh Potter Date- Page 4 INDEPENDENT EXAMINER'S REPORT TO THE TRLisfEES OF Kln8's Churth Leicester I'the Charw) I report to the charity trustee5 on my examination of the accounts of the Charbty for the year ended 31 August 2022 on pages 6 to 13 followin& which have been prepared on the basi5 of the accounting policies set out pages 8 to 10. Responsibilikne5 and ba$ls of report A5 the charitvs trustee5 of the Charitable Incorporated Organisation you are responsible for the preparation of the accounts In accordance with the Tequlrements of the Charities Act 20111'the Act'l. I report in respett of my examination of the CtharitV5 accounts carried out under section 145 of the Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commi55ion under Section 14515llbl of the Art. Independent examlnees statement I have completed my examination. I confirm that no mètters have come to my attentlon in connection wlth the exarnination giving me cause to believe: accountin8 records were not kept in respect of the Charfity as required by section 130 of the Att- or 2. the accounts do not accord WFth those records- or 3. the accounts do not comply with the applicable requirements conceming the fom) and content of accounts Set out in the Charities IAccounts and Report51 Regulations 2(K)8 other than any requirement that the accounts give a 'true and fair, view which is not a Fnatter 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 thi5 report in order to enable a proper understanding of the accounts to be reached. Archie McDowall BA, CA Stewardship l Lamb's Passage London ECIY 8AB Date.- 17 August2023 Page 5 Klng's Churth Lelcester STATEMENT OF FINAIICIAL ACTNMES FOR THE YEAR ENDED 31st AUGUST 2022 Total Funds 2021122 Total Funds 2020121 UnrestridÈd Funds Restricted Funds Note INCOME AND ENDOWMEKfs FROM: Donations a4)d le@aties Charitable activities Investments 153.952.25 647.87 153.952.25 647.87 14.29 14.29 Total Income and endowments 154.614.41 154.614.41 EXPENDITURE ON: Chaiitable aitbvlties Other 41.833.96 41,833.96 Total experKllture 41,833.96 41.833.96 Net Incomellexpendlturel 112.780.45 112,780.45 Transfers between funds 14 112.780.45 112.780.45 Other recognlsed galnslllossÈs}: Gains/llossesl on levaluation of fixed assets Other gains/llosse51 Net movement in fund5 112,780.45 112.780.45 Reconciliatbon of funds: Total funds brought forward Total funds carrled lorward 14 112.780.45 112.780.45 The statement of financial activitie5 includes all gains and10sses recognised in the year. All income and expenditure derive from continuing operations. The notes on pages 8-13 form part of these accounts. Page 6 Klrfs t￿rth Lelcestef BALANCE SHEET FOR THE YEAR ENDED 31$1 AUGUST 2011 Total Funds 2021122 Total Fund5 ilnre5tricted Fury15 Restritted Funds 2020121 Note FIXED A55ETS Tangible a55ets CVRRE14T ASSEIS Debtors Cash at bar*k and In hand 8.554.74 10 108.658.96 8.554.74 108.658.96 117,213.70 117,213.70 CREOITORS.. Amwnts falli due within one year li 14A33.251 14.433.251 Net ojrrent assws I Illabll￿le5l 112.780.45 112,780.45 Total asset$ less ¢yrrent Ilabilllies 112.780.45 112.780.45 CREDITORS.. Amwnts faMlr8 after more than one year 12 Net a￿et$ I Illabllbtles) eAduthng pen55on asset I Illabllltyl 112.780.45 112,780.45 TOTAL NET A55ET5 112,780.45 112,780.45 FUND bALAPXES 14 Unrestricted Funds General funds Designated funds Pen51on reserve Revaluatlon reserve 112.780.45 112.780.45 112.780.45 112,780_45 Restricted Funds 112.780.45 112,780.45 The finar￿la1 statements were appro*d bythe Board of Trustees and were signed on its behalf try.. kEkk Hugh Potter Date-. Chartty number.. 1195653 The notes on page5 8-13 form part of accourbts. Pap7 Klng's Churth iebcester NOTE5 T07HE Accoupirs FOR THE YEAR ENDED 31st AUGusf2022 Statutory Inlormatlon The charity Is a charitable incorporated or8anisatlon re￿'stered vrith the Chawity Commissfjon in ETr￿aTrd & Wales. The charSty'5 reglsterEd Trumber and prlnclpal address can be found on the Charity Infomiatron page. Atcounting Policles These finincial statements are prepared on a 8oin8 COr￿M basls. uThler the historical c05t convefitlon as rnodified by the revaluaiion of tertain a$s￿s. which are measured atfairvalue through the Staternent of Financial Activltles. These financial statements have been prepared in accoTdarKe the "Statement of Recomfflended Practice.. AccoLtntinE and Reporting by Charities prepa¥in8 their accounts in accordance vAih thE F[ThaTr￿aI Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 I'the Charities SORP"). the Fina￿la1 Rew>rting Standard applicable in the United Kin8dom and Republic of Ireland I"FRS 102.1 and wFth the Charities Att 2011. The charity meets the definition of a public benefit entity a5 Set out in FRS 102. The Charities Iktount5 and Reports) Re8ulations 2(K)8 Iihe '2(A)8 Re8ulations'l require5 charities to prepare thesr accounts in accordance With'Ac£ountFn¥ and RepothnÈ by Charities.. Staiement of Recommended Practice efFective from l April 2D)5' but thSs accounting standard has since beers withdrawn and ha5 been replated by the Charities SORP mentioned in the preceding paragraph. The charity has prep3red these flnantial staternenis in accordance with the new Charities SORP- this departure frorn the 2008 Regulations 15 believed to be r￿teSSarylor these financial tt3tements to a Irue and fairview,. The principles adopted in the prepaTation ol the fina￿la1 statements are set out below. al Goln The trustees have asse55ed whether the use of the ping Con￿rn basls Is èppropriate and have Considererf possible events or tondition5 that might cast significant doubt on the abllity of the charlty to continue as a going concern. The trvsteÈs have rnade thls assessment for a period of at least one year from the date ol approval of the financlal stètetnents. In partScular the trustee5 have considered the charity's forecasts ar￿ proiections ihe k¥>55ible irnplicatlons should proiErted Income and l or expenditure vary unexpectedly. The trustees have concluded that thEwe is a reasonable expectation that the charity has èdeouate resource5 to continue to operate fuT the foreseeable future. The tharity therefore conwnues to adopt the golng concern basls in preparing its financial statemert5. contem bl Income Incomp includ&ng Ir¢vestment intome is recognlsed in the period in which the charity become5 entitled to reteipt. the amovnt receivable can be measured with rea50Trable certalnty. and receipt 15 probable. For the most part, income is generally reco¥ni5ed when it 15 received. Income Is deferred the tharity has to Mlfil cOTrdit￿Th$ before becorning entitled to it or where the donor has specified that the income is to be expeThJed in a future period. InctTrne from dofiations and legaoes Includes- il Recoverable gfft aid. This is reto8nised when rdated donation É5 TeceNed. Gift aid that has not been recovered by the balance sheet date is included as a debtor. ill Donated facilit￿5. seryices and 8ood5. G(M]ds donated for dSstribution to beneficiaries a¥e recognlsed as Incorne when receivable at fair valLte Ibein8 an estimate of the amount it w)uld cost to purchase thD5e items). Facilltles. servicÈ5 and ¥ood5 donated for the charity's own vse a￿ recogTri5ed a5 income wheTr recewable attheir value to the charity. The charity relies on volunteers to carry out mafty of its artivitie5. However. In accordance wtth thE SORP, the value of these Services ha5 not been ir*luded in these financial statements as they cannoi be reliab￿ measufed. When donated goods. semces and facilitie5 are disthbuted or consumed. an expense in Tespect of those item5 is included in the Statefflent of Financial ACtNi￿e$. At the year end any ¥{￿5 that have not beeTr disthbuted or con5umEd are recoEni5ed a5 5tn of thp financial statements, compllance with tonstitutional and statutory requirement5 and any otherexpenditure irKurred on the strateyc management of the charity. dl Fund accountin General ftsnds a￿ unrestricted fiJnd5 which afe available for use at the distretion of the tTUStee5 in furtherance of the general objectives of the charity. Designated fvnds comprise unre5trirted fvnd5 that have been set aside by the trustees for particular purposes. Restr&cted funds are donations which are to be used in accordan￿ with specthc restriclion5 irnposed by donors," thev include donattons rece￿e1 from appeals foT Specific aclivikne5 or projects. Endown)ent fvnds are donation5 that are retained as capital in accordance wlth the donor's W5he5. Th￿ nature of the restriction detemiines whether the endowment5 represent pemianent endowments or expendable ÈtNJowments. 55e Items purchased or donated for the charity's own use are capttali5ed c05t ol purchased item5. or the fair value ol donated item5, 15 more than £l.Q(Kl and the rtem Is expetted to benefft thE charTty over more than one accounting perlod. Depreciation is charged on a Straight Ilne basis so as to write down the value of each asset to its estimated residual value1Sf anyl over it5 experted usefijl economic life. To ach¢eve this obJettNe the follo￿n8 rate5 of (SepTeciation are charged.. Freehold land Freehold buildin8$ Leasehold improvements Equipment 15 not depreciated Ibecèuse It Is not tonsuffled by usel c￿er 50 years after takin8 account of the buildin8'5 fe51dual ¥alue (fver the Sease terni or. if shorter. expected useful life Over 3 to 7 years The corryiTrg ¥al￿e5 of tanglble fixed asseis are reviewed for impaifment in periods when events or changes In clrcumstances ndicate that the carryin¥ value may not be recoverable. Investments Flxed asset inve5tmÈnts are held lo generate income and / or for their irNe5tment poten￿81. Cur¥ent a55et inve5trnent5 are imiestments that are held 5pecrficalty for sale or are invesiments that the C￿rIty Èxpetts to sell by the next balance Sheet date. lfive5tmefits. otheTthan social irwestrnerbts lsee below). are valued as follows.. Investment property and listed It)vesimer￿ ale valued at their mar*et value Ifairvaluel at the balan￿ Sheet date. 111 Unlisted investments èrÈ mÈasurÈd at cost SE$5 impairTnent where rt becomes apparent that the amount that could bÈ realised Is less thèn tost. Soclal investments are Investments where the primary rnotive is to lurthEr tharity5 objerts. rK)t to zenerate an Investment return. Social investments comprise". contessionary Soans. These èrÈ initially recoBni5ed as the arnount paid and thereafter the carfwng value at every balance sheet date Is adjusted for repayments. Interest tharges and provisions for impaimient il the amount owÈd may not be fulty recoverable. 111 an investment in property that is let rent-Free. These investmenl properties are valued at every balance sheet date at falr value or. Whe￿ this £a*ntst ￿ reliably astertained. at tost less impaimient. Mixed motive investrner￿ are investments that are held bDth to generate a financFal retum and to contribute to the hjrtherafice of the charity'5 obiEct5. Impairment losses and losses arising on the disposal of soclal Iwesbwts are lftcluded In the 5ts1emeni of FSnanclal Actfvltle5 under the heèdin8 'ExpendSture on charitsble actNities'. Golns arisln8 00 the disposal of social inwestment5 are included in the Staternent of Financial Artivities undef the hÈading'Other it)come'. All other gains and losses on Investment 3ssets are included In the Statement of Flnantial ArtNitiÈs under the headin8'NÈt galns I Ilossesl on imiestments,. Pagt 9 IIOTESTO THE ACCOUNTS FOR THE YEAR ENDED 31st AUGUST 2022 Il Pension scherne arra ements The tharity operate5 defiTred Con￿b￿l￿)n pensK¥n 5chernes for employee& OblW"on5 For conttlbutions to these schemes are recognised a5 an expense when the Ilabèllty arises. The a55ets of these sthemes aTe hekl Separately from those of the charity in independentty administered fund5. kl Ta¥ation The charity ha5 tsken advants8e of thE vavious reliefs from iaxatFon availaljle to charities and tax Is payable on the charity's income. ncial instruments The charity's finarKial assets arvj financial liabilit￿5 all 9￿alIfy as basic financial instruments. a5 defined by FR5102. Except for loans, creditor5 and debtor5 are measu¥d at their experted se￿eMent value InDrmally the amount of cash that the charity expects to pay or receive). The charity ¥ecognise5 liabilities for the principal of those bans that remains outstandin8 at the year end li.e. the liabi1Sties exclude any interest chargeable on loar¢s in futurE year51. n turren translètio These finarKial statements are presented in sterl&n& which is charfty's lunrtional currerry. il Incorne and expenditure dem)minated in a foreiyb currenry Is translated Into ￿e¥ll￿ at the exchBnge rate pre¥alllnE on the date of the transaction. ill Monetary assets and liabililie5 denominated in a lorefjRn curretKy are f&translated at the exCha￿e rate prevè111￿ at the balance Sheet date. iiil Non-monetary assets are measured at historic r05t at the rate of exchange prewa111￿ on the date of the transaction and are not 5ub5equently re-translated. All dlfferences ari5ingfrom the application of the above policy aTe chawyd lor C￿lited} to the Statement of FI￿n￿al A￿l￿ties. n) Exem tion from a cashflow statement The charty has taken advantage of an exemption conferred by the Charftles SORP aFKI ha5 IKJt prepared a cash flow statement. ol CTltical accountin estimates and areas of ud emerrt The trustees do not consider that there are any rnaterial Sources of esttrnation or uncertainty * the balance sheet date that could result in a material adjustment to the value5 of a55ets and liabilitie5 ITr the next reporting period. Donat10Tr5 and legades 2021122 Do￿tiOnS of cash and similar Other 8rènt5 receivable Income tax Tecoverable 29304.00 1180(K>.ty) 6648.25 153952.25 Inc¢Jme from thavilable acti¥ltles 2021122 Newday Ticket Income Other Income 260.00 387.87 647.87 Irwtstment Income 202ty22 Bank ir¢terest 14.29 14.29 Cha￿table expendsiure 2021122 cO￿S lficurred dlrettty on spedn¢ acthttles 23753.81 99.66 Discipleship P898 10 King's Churth Leic*st*r FOR THE YEAR E14DED 31st AUGUST 2021 sunday Mornin85 Kid5 & Yguth Worship Evangelism Pa5tDral Leadership Catalyst Events Gr8nt5 payable (note 8cl 3B5.74 2￿6.88 72.08 1338.46 295.45 401.55 772.57 2896.40 32022.60 Costs Incurred on 5UPPWt & athlnlstrati Governante tosts Indepe￿dent examiner'slee iiTh).c#) Admlntstration Legal & PTofesslono1 Premises Computer Expense5 Bank Charges Depreciation 284.28 129.IX 8055.$0 189.58 53.00 8711.36 Total expendtu 41833.96 The lee payable to the independent examiru for eX4mini￿ accounts was £l,lfy); in addition the charfty pald £129 to Stewardship forconsvltsncy seM¢es. Grants payable Institutions Individuals 2021122 Grènts for UK and overseas mlssion Gront5 forthe rel￿f of poverty 1880. 8CM).00 2,680.OD 216.40 216.40 1016.40 1,896.40 1.880.tx) The char*ty's principal yants to institutions cornprised.. 202ty22 Home for Good Mosaic FoadbaTrk Catalyst 14etWOfk of Churches KinK's Arm5 Bedford 12fXI. 1880.00 Analyslsol stall c05t% the ci)5t ol key management per￿￿n￿ trustet rernuner*iion 202V22 Gross wages and Salaries Social Security Pen510n COSt5 Otheremployment beneffts 22376.25 1367.81 9.75 23753.81 The average rr￿nthlY nUTnbEr of efflployees durfn8the Year was 2. Most of the charity'5 activitie5 are carried out by volunteers. Mo staff received 5a13ries ata rate of Thore t￿n £(A).￿l pef annum. ThE charity'5 kev Ma￿￿ement comprise the tnI5tee5 arml the key staff named OTr the Charlty Inforrnatlo* pale. Total employment beneflts payable lo key ￿ar￿ge￿enlf0i the were as lollow5: P8gef1 Klng'sthyrch Lekesi OTES TOThÈ KCOUPUS FOR THE YEAR ENDED 3tst AUGU5T2022 202V22 Deferred Income Loans 0.00 Grant obligations 13 Pen51on c¢)mmltments Durln8 the year employerfs pensiDn Contributions totallir¥ £1367.8112020121.. £0) v*re payable lo defined contribution personal pension scheme5. 14 Funds Durin8 the year the rnovements In thE charivs fvThJswere a5 follow5.. OpEnir lante t￿Orn1r￿ l)Jtgty"n resources Transfers In the yea¥ 2021n2 Galns and losses Closing balance 2021122 2021122 2021122 202U22 2021122 Destgnored Fvnds GenerLTI unre5trlctedF￿odS 154.614.41 I41￿33.96} 112,780.45 Total Unrestri£ted Funds 154.614.41 I41￿33.96} 112,780.45 Re5trirted Funds Aggre8ate of funds 154.614.41 I41￿33.96) 112,780.45 Arkatys15 of net ass￿5 by fvnd The assets a[￿ liabilities of the various were as follow5.. Unte5 Ger*ral lunds OÈsi8nated lunds Re5tricsed lunds 202V22 laneible fixed assets Debtor5 Cash at bank and In hand Creditors lallin8 due V4Ithift one year Creditors lalling due after one year .554.74 108.658.96 14,433.251 8,554.74 108,658.96 14,433.251 112,780.45 112,780.45 15 TransactlonsT*th rel•ted partie5 During the vear the charity.. received donations totallirbg £6.810 from related parties l*thich intlude5 trustees. any other members of key mana8ement and anyone closely connected totheml. Page 13