Kingsway Church
Report and Accounts Period Ended 31st December 2022
1 Lamb's Passage, London EC1Y 8AB www.stewardship.org.uk
KINGSWAY CHURCH
LEGAL & ADMINISTRATIVE DETAILS
FOR THE PERIOD ENDED 31 DECEMBER 2022
ADDRESS FOR CORRESPONDENCE 18 Rectory Road Beckenham Kent BR3 1HW GOVERNING DOCUMENT Constitution dated 30th September 2021 CHARITY REGISTRATION NUMBER 1196128 TRUSTEES RESPONSIBLE FOR Kevin Palmer MANAGING THE CHARITY Joel Vian Appointed 12th October 2021 Sharon Tucker
BANKERS NatWest INDEPENDENT EXAMINER Lisa Darby FCA Stewardship 1 Lamb's Passage LONDON EC1Y 8AB
INDEX
Page 1 Legal & Administrative Details Pages 2-3 Trustees' Report Page 4 Independent Examiner's Report Page 5 Receipts and Payments Account Page 6 Statement of Assets & Liabilities Pages 7-8 Notes to the Accounts
Page 1
KINGSWAY CHURCH
REPORT OF THE TRUSTEES
FOR THE PERIOD ENDED 31 DECEMBER 2022
The Trustees have pleasure in submitting the Report and Accounts for the period 12th October 2021 to 31st December 2022.
Objects of the charity
The charity, which is a church, is governed by a constitution and is constituted as a charitable incorporated organisation. The charity's principal objects, as set out in its governing document, is to advance the Christian religion throughout England and Wales.
Vision
To birth a Church, committed to realigning the practices & beliefs of its members, with what is taught in the bible. Specifically upholding the principles of the Reformation emphasizing the five sola’s. Scripture Alone, through Faith, Grace & Christ alone to the Glory of God alone.
Launch year, Oct. 21 – Dec 22 Accomplishment’s.
Meeting at first organically in their homes, a small group of Christians, united in their pursuit of truth, started to gather. Numbers grew between April 2021 to May 2021 to such an extent that home[of] meetings became unsuitable. On the 23[rd] May 2021, a meeting was held, and those in attendance agreed to plant a new Church, built on 8 principles.
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A Church Committed and defined by Scripture in both believe and practice.
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Being Open & having strong relationships.
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A community where God could dwell by his spirit.
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Those who honoured the ancient ways.
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Reformed in our traditions & Beliefs.
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Justification by faith as our central focus.
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With Evangelism at our core, with a vision to build a glorious Church.
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With a sense of excitement for building something new, from the timeless truths of scriptur
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Kingsway Church consists of around 30 Adult attendees.
In planning the activities the Trustees have applied the guidance on public benefit issued by the Charity Commission.
Objectives for 2022 – 2023.
To grow the congregation to 40 adults, host easter week, and Christmas special services, investigate charitable works that can be facilitated from the Church premises, to benefit the local community.
Structure, Governance & Management
12th October 2021 - 31st January 2022
The Charities Day to day operations where manged by John Wheeler and Max Eaton. In February 2022 the dynamics changed due to Max Eaton standing down.
1st February – 31st December 2022
A team of five leaders headed up by John Wheeler was then put into place. The four other leaders being Joel Vian, Micheal Liburd, Emile Francis, Kevin Palmer. The management team are all volunteers.
There are three volunteer trustees. Kevin Palmer (Chair) Joel Vian Sharon Tucker
Page 2
Financial review
During the period the charity had income of £58,251 and expenses of £37,217, resulting in a surplus at 31st December 2022 of £21,034 which is held in the charity's bank accounts as unrestricted funds.
Reserves policy
The trustees intend to set the charity's reserves policy during the second year of operations.
Governance
Responsibility for setting policy and for making operating decisions rest with the trustees who meet regularly to monitor the activities of the charity. New trustees are recruited and appointed by the existing trustees, by a majority vote.
Risk statement
The charity is exposed to various risks - be they operational, financial or reputational. The trustees review the charity's activities regularly to identify significant risks and, where possible, they take appropriate measures to mitigate those risks.
Responsibilities of trustees
Charity law requires us as Trustees to prepare financial statements for each accounting year which record the receipts and payments of the charity for the year.
We are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and enable us to ensure that the financial statements comply with the Charities Act 2011.
We also have a responsibility to safeguard the assets of the charity and to take reasonable steps to prevent fraud or any other irregularities.
Approval
This report was approved by the trustees and signed on their behalf by:
Kevin Palmer
Kevin Palmer
Date: 12 December 2023
Page 3
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF
KINGSWAY CHURCH
I report to the trustees on my examination of the accounts of Kingsway Church ('the charity') for the period ended 31 December 2022 on pages 5 to 8 following.
Responsibilities and basis of report
As the trustees of the charity 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 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 accordance with section 130 of the 2011 Act; or
- the accounts do not accord with the accounting records.
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.
Lisa Darby
Lisa Darby FCA Stewardship 1 Lamb's Passage LONDON EC1Y 8AB
Date: 13 December 2023
Page 4
KINGSWAY CHURCH
RECEIPTS AND PAYMENTS ACCOUNT
FOR THE PERIOD ENDED 31 DECEMBER 2022
| Notes Income receipts Donations Gift aid receipts Other Total receipts Payments 2 3 Total payments Transfers between funds 5 Cash funds at this year end A Net of receipts / (payments) before Grants paid in relation to charitable activities undertaken by others Payments in relation to charitable activities undertaken directly Purchase of fixed assets Loans made |
General Designated Funds Funds £ £ 58,251 - - - - - 58,251 - 33,287 - 1,100 - 34,387 - 2,030 - 800 - 2,830 - 37,217 - 21,034 - (4,500) 4,500 16,534 4,500 Unrestricted Funds |
Restricted Funds £ - - - - - - - - - - - - - - |
2022 £ |
|---|---|---|---|
| 58,251 - - |
|||
| 58,251 | |||
| 33,287 1,100 |
|||
| 34,387 | |||
| 2,030 800 |
|||
| 2,830 | |||
| 37,217 | |||
| 21,034 - |
|||
| 21,034 |
The notes on pages 7 - 8 form part of these accounts.
Page 5
KINGSWAY CHURCH
STATEMENT OF ASSETS AND LIABILITIES
FOR THE PERIOD ENDED 31 DECEMBER 2022
| Notes A Cash funds Cash at bank with immediate access Petty cash |
General Designated funds funds £ £ 16,534 4,500 - - 16,534 4,500 Unrestricted Funds |
General Designated funds funds £ £ 16,534 4,500 - - 16,534 4,500 Unrestricted Funds |
Restricted funds £ - - - |
2022 £ 21,034 - 21,034 |
|---|---|---|---|---|
| B Other monetary assets |
||||
| Gift aid due to charity | 8,610 | - | - | 8,610 |
| Other debtors C Liabilities |
800 9,410 |
- - |
- - |
800 9,410 |
| Falling due within one year Rents liability Trade creditors |
7,200 1,552 |
4500 - |
- - |
11,700 1,552 |
| Fee for Independent Examination Accrued expenses |
690 - |
- - |
- - |
690 - |
| 9,442 | 4,500 | - | 13,942 |
D Assets retained for charity's own use
Church Equipment and Furniture |
Cost |
|---|---|
| £ | |
| 7,744 | |
| Assets have been valued at cost. |
E Guarantees and secured debts
The charity has not given any guarantees and has not provided its assets as security for any liabilities.
The accounts were approved by the trustees and signed on their behalf by:
Kevin Palmer
Kevin Palmer
Date: 12 December 2023
The notes on pages 7 - 8 form part of these accounts.
Page 6
KINGSWAY CHURCH
NOTES TO THE ACCOUNTS
FOR THE PERIOD ENDED 31 DECEMBER 2022
1 Accounting policies
The accounts have been prepared on a receipts and payments basis and comprise a statement that shows the charity's receipts and payments, a statement that summarises the charity's assets and liabilities and related notes. The accountancy profession have determined that only accounts prepared in accordance with applicable accounting standards present a 'true and fair' view and, as these receipts and payments accounts have not (and cannot) be prepared in accordance with accounting standards, these accounts do not present (and are not intended to present) a 'true and fair' view of the charity's financial activities and state of affairs.
General funds are unrestricted funds which are available for use at the discretion of the trustees in furtherance of the general objectives of the charity. Designated funds comprise unrestricted funds that have been set aside by the trustees for particular purposes. Restricted funds are donations which are to be used in accordance with specific restrictions imposed by donors; they include donations received from appeals for specific activities or projects.
| 2 Payments in relation to charitable activities undertaken directly Ministry expenses (including events) Technology expense Rent Maintenance of buildings & equipment Utilities Insurance Independent examination Broadband costs Other costs |
Unrestricted Fun General funds £ 2,520 736 1,150 24,884 864 394 - 2,522 217 33,287 |
ds Designated funds £ - - - - - - - - - - |
Restricted Funds £ - - - - - - - - - - |
Total Total 2022 2021 £ £ 2,520 - 736 - 1,150 - 24,884 - 864 - 394 - - - 2,522 - 217 - 33,287 - |
|---|---|---|---|---|
| 3 Grants paid in relation to charitable activities undertaken by others Grants for: Ukraine Fund (Anerley Team Ministry) Grants to individuals |
1,100 - 1,100 |
- - |
- - - |
1,100 - 1,100 |
|---|---|---|---|---|
4 Transactions with related parties
There were no payments to trustees or related parties during the period, other than the reimbursements of expenses incurred on the charity's behalf with no profit element.
Page 7
KINGSWAY CHURCH
NOTES TO THE ACCOUNTS
FOR THE PERIOD ENDED 31 DECEMBER 2022
5 Movement of funds
| vement of funds | |||||
|---|---|---|---|---|---|
| General funds Designated funds Church Fund Unrestricted funds Restricted funds Total funds |
Opening balance £ - - - - - |
Receipts £ 58,251 - 58,251 - 58,251 |
Payments £ (37,217) - (37,217) - (37,217) |
Transfers £ (4,500) 4,500 - - - |
Closing balance £ 16,534 4,500 |
| 21,034 | |||||
| - | |||||
| 21,034 |
The Church fund has been created to set aside funds towards rental commitments.
Page 8