## Kingsway Church Report and Accounts Year Ended 31st December 2024 1 Lamb's Passage, London EC1Y 8AB www.stewardship.org.uk ## **KINGSWAY CHURCH** ## **LEGAL & ADMINISTRATIVE DETAILS** ## **FOR THE YEAR ENDED 31 DECEMBER 2024** 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 Sharon Tucker (resigned: 25 March 2025) Abraham Jacob (appointed: 25 March 2025) 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** ## **Trustees Report 1[st] January 2024 to 31[st] December 2024** ## **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. ## **Objectives Originally Set for 2025** To grow the congregation to 40 adult members, to maintain the repair cafe as a primary contact point with the local community at the Church premises, to maintain Sunday morning & Thursday evening meetings. To build on the Eldership team, to gain plurality, by appointing a second Elder. ## **Maintain principles in 2024 the church was established upon.** - A Church Committed and defined by Scripture in both belief and practice. - Being Open & having strong relationships. - A community where God could dwell by his spirit. - Those who honoured the ancient ways. - Reformed in our traditions & Beliefs. - Justification by faith as our central focus. - With Evangelism at our core, with a vision to build a glorious Church. - With a sense of excitement for building something new, from the timeless truths of scripture ## **Year three, 1[st] Jan 2024 -31[st] December 2024 Accomplishments** Kingsway Church Trustees had clear objective for 2024, namely to: To grow the congregation to 40 adult members, to start charitable works hosted at the premises, to maintain Sunday morning & Thursday evening meetings, to rebrand the Church logo, and relaunch the website, and related digital platforms, namely, youtube, Facebook, Instagram, etc. To name and appoint Deacons, to assist with the leadership of the Church. The trustees are delighted to be able to report that there was some success in meeting these Objectives. To Grow the Congregation to 40 Adult members. This objective has illuded us. Whilst we were able to add numerically to our membership, we also had congregants leave. As such our membership numbers declined slightly from around 30 in 2023 to 28 in 2024. As a Charitable contact point with the local community, a partnership with a local Charity running repair cafe from the Church premises was launched in the 4[t][h] Quarter of 2024. This has been a really fruitful way of reaching the local community and generating interest in the Church. As a result of facilitating the repair cafe, many members of the local community had items repaired free of charge, and the Church had a number of visitors as a result. We have been able to maintain Sunday morning services, and mid-week Thursday evening meetings, opening the building to the congregation and visitors every week of 2024. Page 2 In addition to Sunday Services, and the mid-week Service, Kingsway Church hosted an Easter Service & put on its 2nd Christmas Production. The Christmas production, as with 2023, had over 70 attendees. At a special family meeting held on the 2[nd] June 2024, the trustees presented to the Church a new logo & signage. Which after a little discussion and input from the congregation was finalized and adopted. With the new logo, a website holding page was commissioned, ready for development in 2025 to a fully functional website. Crucially, and to the delight of the congregation, Kevin Palmer was appointed as a Deacon, to assist Joel Vian in his Eldership, leader role. ## **Financial Review** At the end of 2024 the charity had £30,988 in our current accounts and £65,527 in our savings account. Giving a total amount of money held by Kingsway Church of £96,515. Monthly outgoings include but are not limited to the following which amount to around £650 per calenda month, all of which are paid up to date. Utilities - Gas, Electricity, Water Telecoms - Telephone landline, broadband, mobile phone Building Services - cleaning, fire extinguishers, gas safety certificate, general maintenance Web Services - CCLI, Sound Cloud, Gsuite Google, You Tube, Pro Presenter Subscriptions - ICO, Church Suite, Evangelical Alliance, Insurances - Public & Employers, Property All Risks, Equipment Breakdown, Products, Trustees Events - Easter, Christmas, Fund Raisers Rent monies due from September 2022 to December 2024 amounting to £58,500. Interest is now being charged on the outstanding rent. Total rent and interest charges amount to £60,459 which is being held in reserve due to incorrect bank details being provided for the Trust who own the building. During 2025, this issue was resolved and trustees have settled the outstanding rent due in full. ## **Investment/ Reserves Policy** With rent monies being ring fenced we held £30,988 at the end of 2024 surplus to requirements. Our projected income/ donations during 2025 was placed at around £40,000 based on last year's giving. This gave Kingsway Church ample funds to cover the estimated outgoings for 2025 estimated at £31,200. ## **Events Since the Year End** As at the current date, the church stopped its operations in late 2025 and the charity has begun the process of winding up operations. All creditors will be paid using the funds held by the charity, and trustee discussions are ongoing as to the actions needed for any residual funds held. The accounts were approved by the trustees and signed on their behalf by: ## Kevin Palmer Kevin Palmer (Feb 4, 2026 19:58:17 GMT) ______________________________________________ Kevin Palmer ## Feb 4, 2026 ______________________________________________ Date 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 year ended 31 December 2024 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 2. 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 (Feb 9, 2026 09:23:21 GMT) Lisa Darby FCA Stewardship 1 Lamb's Passage LONDON EC1Y 8AB Date: Feb 9, 2026 Page 4 ## **KINGSWAY CHURCH** ## **RECEIPTS AND PAYMENTS ACCOUNT** ## **FOR THE YEAR ENDED 31 DECEMBER 2024** ||||||Unrestricted|Funds||||| |---|---|---|---|---|---|---|---|---|---|---| ||||||General|Designated||Restricted|31st Dec|31st Dec| ||||||Funds||Funds|Funds|2024|2023| |||||Notes|£||£|£|£|£| |**_Income receipts_**||||||||||| |Donations|||||70,784||-|-|70,784|55,702| |Gift aid receipts|||||-||-|-|-|225| |Bank interest|||||499||-|-|499|28| |Other|||||-||-|-|-|-| |**_Total receipts_**|||||71,283||-|-|71,283|55,955| |**_Payments_**||||||||||| |Payments
in
relation
to
activities undertaken directly|||charitable|2|28,438||-|-|28,438|17,933| |Grants
paid
in
relation
to
activities undertaken by others|||charitable|3|2,000||-|-|2,000|1,167| ||||||30,438||-|-|30,438|19,099| |Purchase of fixed|assets||||1,620||-|-|1,620|600| |**_Total payments_**|||||32,058||-|-|32,058|19,699| |Net of receipts / (payments) before|||||39,225||-|-|39,225|36,256| |Transfers between funds||||5|(30,427)|30,427||-|-|-| |**Net movement in funds**|||||8,798|30,427||-|39,225|36,256| |Cash funds as at|last year end||||22,190|35,100||-|57,290|21,034| |**Cash funds at this year end**||||A|30,988|65,527||-|96,515|57,290| The notes on pages 7 - 8 form part of these accounts. Page 5 ## **KINGSWAY CHURCH** ## **STATEMENT OF ASSETS AND LIABILITIES FOR THE YEAR ENDED 31 DECEMBER 2024** |Notes
**A**
**Cash funds**
Cash at bank with immediate access
Petty cash|General
Designated
funds
funds
£
£
30,988
65,527
-
-
**30,988**
**65,527**
Unrestricted Funds|General
Designated
funds
funds
£
£
30,988
65,527
-
-
**30,988**
**65,527**
Unrestricted Funds|Restricted
funds
£
-
-
**-**|2024
£
96,515
-
**96,515**|2023
£| |---|---|---|---|---|---| ||||||57,290
-| ||||||**57,290**| ||||||| |**B**
**Other monetary assets**|||||| |Gift aid due to charity|9,072|-|-|9,072|1,826| |Other debtors
**C**
**Liabilities**|-
**9,072**|-
**-**|-
**-**|-
**9,072**|800
| ||||||**2,626**| ||||||| |**Falling due within one year**|-|60,459|-||| |Rents liability||||60,459|35,100| |Fee for Independent Examination|900|-|-|900|1,500| |Accrued expenses|5,000|-|-|5,000|800| ||||||| ||**5,900**|**60,459**|**-**|**66,359**|**37,400**| ## **D Assets retained for charity's own use** |
Church Equipment and Furniture|Cost| |---|---| ||£| ||23,913| |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 (Feb 4, 2026 19:58:17 GMT) ___________________________________Kevin Palmer Feb 4, 2026 Date:_______________________ The notes on pages 7 - 8 form part of these accounts. Page 6 ## **KINGSWAY CHURCH** ## **NOTES TO THE ACCOUNTS** ## **FOR THE YEAR ENDED 31 DECEMBER 2024** ## **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
Legal expenses
Printing and Stationery
Broadband costs
Trustee Meeting expenses
Other costs|Unrestricted Fun
General
funds
£
3,138
2,369
-
7,023
6,129
443
1,570
5,275
29
836
1,628
-
28,438|ds
Designated
funds
£
-
-
-
-
-
-
-
-
-
-
-
-
-|Restricted
Funds
£
-
-
-
-
-
-
-
-
-
-
-
-
-|Total
2024
£
3,138
2,369
-
7,023
6,129
443
1,570
5,275
29
836
1,628
-
28,438|Total
2023
£| |---|---|---|---|---|---| ||||||2,981
1,255
-
1,831
10,531
438
-
-
130
738
-
29| ||||||17,933
| |**3**
**Grants paid in relation to charitable activities undertaken by others**
Grants for:
Ukraine Fund (Christ Central)
Global Care|2,000
-
2,000|-
-|-
-
-|2,000
-
2,000|-
1,167| |---|---|---|---|---|---| ||||||1,167| ||||||| ||||||| - **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 YEAR ENDED 31 DECEMBER 2024** ## **5 Movement of funds** |**vement of funds**|||||| |---|---|---|---|---|---| |General funds
Designated funds
Church Fund
Unrestricted funds
Restricted funds
Total funds|Opening
balance
£
22,190
35,100
57,290
-
57,290|Receipts
£
71,283
-
71,283
-
71,283|Payments
£
(32,058)
-
(32,058)
-
(32,058)|Transfers
£
(30,427)
30,427
-
-
-|Closing
balance
£
30,988
65,527| ||||||96,515| ||||||-| ||||||96,515| The Designated Church fund has been created to set aside funds towards rental commitments. During the year the charity transferred general funds to the designated Church Fund to reflect the uplift in the expected rent liability Page 8