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2022-12-31-accounts

Charity number: 278746

KINGDOM FAITH CHURCH

TRUSTEES' REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2022

KINGDOM FAITH CHURCH

CONTENTS

Page
Reference and administrative details of the Charity, its Trustees and advisers 1
Trustees' report 2 - 5
Independent auditors' report on the financial statements 6 - 9
Statement of financial activities 10
Balance sheet 11
Statement of cash flows 12
Notes to the financial statements 13 - 30

KINGDOM FAITH CHURCH

REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2022

Trustees

Mr. Jeremy Blake (resigned 2 October 2023) Mr. Simon Coles Mr. Jonathan Croft Mr. Jon Elliott Mr. Clive Urquhart Mrs Sophie Coppeard

Charity registered number

278746

Principal office

Foundry Lane Horsham West Sussex RH13 5PX

Independent auditors

Baldwin Scofield Ltd Chartered Accountants Statutory auditors 3 Newhouse Business Centre Old Crawley Road Horsham West Sussex RH12 4RU

Bankers

National Westminster Bank plc 16 The Boulevard Crawley West Sussex RH10 1GL

Solicitors

PDT Solicitors 36 - 48 Queen Street Horsham West Sussex RH13 5AD

Page 1

KINGDOM FAITH CHURCH

TRUSTEES' REPORT FOR THE YEAR ENDED 31 DECEMBER 2022

The Trustees present their annual report together with the audited financial statements of the Kingdom Faith Church for the 1 January 2022 to 31 December 2022.

Objectives and activities

Policies and objectives

The principal object of the Trust is the advancement of the Christian Faith.

In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'.

Achievements and performance

Review of activities

Jan 2022 started with 21 days of prayer and fasting, incorporating encounter nights and prayer meetings. These were held in a combination of all four congregations together as well as in each local congregation. We also encouraged families to meet in their own homes with others and gather for prayer and communion on Friday evenings.

We continued to live stream from our Horsham congregation every week, which helps to support Church in the Home, partnering churches and those who live further away and want to connect in on Sundays and Wednesday night encounters.

During 2022 we continued to run Alpha and Bereavement courses in person and online.

Burgess Hill and Worthing congregations met bi-weekly in their homes, and the other weeks in their respective buildings. Horsham and Crawley congregations met every week in their respective buildings.

The relationships with our partnering church leaders continued to grow and develop. This was through corporate monthly zoom calls, regular individual church zoom calls, in person ministry visits, Leaders gathering in May and Leadership team training in October, both held in Horsham.

Our individual Partners have continued to be faithful supporters in terms of prayer, attendance and financial giving. Due to our services and prayer meetings continuing online that has enabled many others across the UK, Europe and other parts of the World to connect into Kingdom Faith.

The Child Contact Centre continued to operate every other Saturday allowing a separated parent to see their child in a safe and friendly environment. This also included supervised contact during the week and weekends.

Roffey Place is now being used as a homeless shelter by Turning Tides, who are a Christian charity based in West Sussex. The building is on a 5-year lease at a peppercorn rental and Turning Tides have management agreement to run the facility on behalf of Horsham District Council. Turning Tides expect the facility to be able to house 50 residents and their plan is to help eradicate homelessness in the Mid Sussex region.

Page 2

KINGDOM FAITH CHURCH

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022

Financial review

Going concern

After making appropriate enquiries, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies.

Reserves policy

The Trustees have a reserve policy of £100,000 to be held in cash, to help smooth out cash flow timings. At year end this was just being met as the total cash balance was £100,423 which is a decrease on 2021 when the balance was £178,470.

Results

The current period produced a total deficit of £64,723 (2021: surplus £172,136). This was after non-cash depreciation charge of £12,543 (2021- £6,820). As reflected in the increased depreciation figures for 2022 we have invested in computers and equipment out of ongoing cash flow.

We expect that going forward we will run a general budget surplus.

Principal risks and uncertainties

The Trustees have assessed the major risks to which the charity is exposed, in particular those related to the operations and finances of the charity, and are sartisfied that systems and procedures are in place to mitigate our exposure to major risks. These assessments are subject to ongoing review and monitoring.

Structure, governance and management

Constitution

Kingdom Faith Church is a registered charity, number 278746, and is constituted under a Trust deed dated 21 September 1979. The Trustees were incorporated as a body on 4 May 2006 in the name "The incorporated Trustees of Kingdom Faith Church".

Methods of appointment or election of Trustees

Under the terms of the revised trust deed dated 27 April 2009, the Trustees are authorised to appoint new Trustees provided they are approved by the executive team of Kingdom Faith Church as defined in clause 5.8.1 of that deed.

New Trustees are appointed on the basis of their expertise and involvement in furthering the objects of he charity.

Page 3

KINGDOM FAITH CHURCH

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022

Structure, governance and management (continued)

Organisational structure and decision-making policies

The governing body of Kingdom Faith Church is the Trustees who are legally responsible for the governance and management of the Trust, working in close consultation with the Executive team of Kingdom Faith Church.

The Trustees are responsible for setting strategies and policies and for ensuring that these are implemented. Authority to conduct the day to day operations of Kingdom Faith Church is delegated by the Trustees to the Executive Team. The Executive Team are responsible for the implementation of the policies and strategies on behalf of the Trustees.

Policies adopted for the induction and training of Trustees

The Trustee induction process is considered sufficient at this time. New Trustees are briefed by the Executive team and are provided with the accounts of the Turst, a copy of the trust deed and an explanation of the history of the Trust.

Related party relationships

The Trust has connections with Lamplugh House Trust up until its closure in November 2016, the incorporated charity, The Way of the Spirit and Kingdom Faith South West Trust.

New charities were established for Kingdom Faith London and Kingdom Faith Yorkshire and with effect from 1 September 2009, the activities and accumulated funds were transferred to those charities.

Financial risk management

The Trustees have assessed the major risks to which the Charity is exposed, in particular those related to the operations and finances of the Charity, and are satisfied that systems and procedures are in place to mitigate exposure to the major risks.

Plans for future periods

The plans for the Trust in the year ahead were set out during the Kingdom Faith vision Sunday held in person January 8th 2023, the recording of which is available on the Church website.

As mentioned above Roffey Place is being Leased to Turning Tides as a homeless shelter. During this lease period we are looking at various options for sale and disposal of Roffey Place with planning. Our medium-term plans are to consolidate from the 2 current facilities we own to a new facility as part of the North Horsham development, (Mowbray).

Page 4

KINGDOM FAITH CHURCH

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022

Statement of Trustees' responsibilities

The Trustees are responsible for preparing the Trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England & Wales requires the Trustees to prepare financial statements for each financial which give a true and fair view of the state of affairs of the Charity and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Charity's transactions and disclose 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, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the Trust deed. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Disclosure of information to auditors

Each of the persons who are Trustees at the time when this Trustees' report is approved has confirmed that:

Auditors

The auditors, Baldwin Scofield Ltd, have indicated their willingness to continue in office. The designated Trustees will propose a motion reappointing the auditors at a meeting of the Trustees.

Approved by order of the members of the board of Trustees on 27 October 2023 and signed on their behalf by:

Mr. Clive Urquhart

Page 5

KINGDOM FAITH CHURCH

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF KINGDOM FAITH CHURCH

Opinion

We have audited the financial statements of Kingdom Faith Church (the 'charity') for the year ended 31 December 2022 which comprise the Statement of financial activities, the Balance sheet, the Statement of cash flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

The financial statements have been prepared in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standards applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has been withdrawn.

This has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the Trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report.

Page 6

KINGDOM FAITH CHURCH

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF KINGDOM FAITH CHURCH (CONTINUED)

Other information

The other information comprises the information included in the Annual report other than the financial statements and our Auditors' report thereon. The Trustees are responsible for the other information contained within the Annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters where the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the Trustees' responsibilities statement, the Trustees are responsible for the preparation of the financial statements which give a true and fair view, and for such internal control as the Trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the Trustees are responsible for assessing the charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.

Page 7

KINGDOM FAITH CHURCH

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF KINGDOM FAITH CHURCH (CONTINUED)

Auditors' responsibilities for the audit of the financial statements

We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

We obtained an understanding of the legal and regulatory frameworks that are applicable to the charitable trust and determined that the most significant are those that relate to the reporting framework in conformity with the requirements of the Chatities Act 2011 and the relevant direct and indirect tax compliance regulations in the United Kingdom.

We understood how Kingdom Faith Church is complying with those frameworks by making enquiries of management to understand how the charity maintains and communicates its policies and procedures in these areas and corroborated this by reviewing supporting documentation and minutes of meetings of those charged with governance.

We assessed the susceptibility of the charity’s financial statements to material misstatement, including how fraud might occur by considering the risk of management override to be a fraud risk. In addition, we considered the risk of management override by sampling from the entire population of journals, identifying specific transactions which did not meet our expectations based on specific criteria and investigated these to gain an understanding and then agree back to source documentation.

Based on this understanding we designed our audit procedures to identify noncompliance with such laws and regulations. Our procedures involved verifying that material transactions were recorded in compliance with Financial Reporting Standards and the Charities SORP in conformity with the requirements of the Charities Act 2011.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' report.

Page 8

KINGDOM FAITH CHURCH

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF KINGDOM FAITH CHURCH (CONTINUED)

Use of our report

This report is made solely to the charity's trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity's trustees those matters we are required to state to them in an Auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and its trustees, as a body, for our audit work, for this report, or for the opinions we have formed.

Baldwin Scofield Ltd

Chartered Accountants Statutory auditors 3 Newhouse Business Centre Old Crawley Road Horsham West Sussex RH12 4RU

27 October 2023

Baldwin Scofield Ltd are eligible to act as auditors in terms of section 1212 of the Companies Act 2006.

Page 9

KINGDOM FAITH CHURCH

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2022

Note
Income from:
Donations and legacies
3
Charitable activities
4
Other trading activities
5
Investments
6
Total income
Expenditure on:
Raising funds
Charitable activities
8
Total expenditure
Net (expenditure)/income
Transfers between funds
19
Net movement in funds before other
recognised gains
Other recognised gains:
Gains on revaluation of fixed assets
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Net movement in funds
Total funds carried forward		 Restricted
funds
2022
£
1,500
47,359
-
-
48,859
-
66,738
66,738
(17,879)
8,141
(9,738)
-
(9,738)
19,661
(9,738)
9,923		 Unrestricted
funds
2022
£
-
961,413
12,741
964
975,118
9,141
1,012,821
1,021,962
(46,844)
(8,141)
(54,985)
-
(54,985)
2,844,453
(54,985)
2,789,468		 Total
funds
2022
£
1,500
1,008,772
12,741
964
1,023,977
9,141
1,079,559
1,088,700
(64,723)
-
(64,723)
-
(64,723)
2,864,114
(64,723)
2,799,391		 Total
funds
2021
£
176,007
1,040,878
6,973
-
1,223,858
10,234
1,041,488
1,051,722
172,136
-
172,136
30,090
202,226
2,661,888
202,226
2,864,114

The Statement of financial activities includes all gains and losses recognised in the year.

The notes on pages 13 to 30 form part of these financial statements.

Page 10

KINGDOM FAITH CHURCH

BALANCE SHEET AS AT 31 DECEMBER 2022

Note
Fixed assets
Tangible assets
13
Current assets
Stocks
14
Debtors
15
Current asset investments
16
Cash at bank and in hand
Creditors: amounts falling due within one
year
17
Net current assets
Total assets less current liabilities
Total net assets
Charity funds
Restricted funds
19
Unrestricted funds
19
Total funds		 3,885
22,614
50,349
50,074
126,922
(50,772)		 2022
£
2,723,241
76,150
2,799,391
2,799,391
9,923
2,789,468
2,799,391		 5,002
23,585
-
178,470
207,057
(57,516)		 2021
£
2,714,573
149,541
2,864,114
2,864,114
19,661
2,844,453
2,864,114

The financial statements were approved and authorised for issue by the Trustees on 27 October 2023 and signed on their behalf by:

Mr. Simon Coles

The notes on pages 13 to 30 form part of these financial statements.

Page 11

KINGDOM FAITH CHURCH

STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2022

Cash flows from operating activities
Net cash used in operating activities
Cash flows from investing activities
Proceeds from the sale of tangible fixed assets
Purchase of tangible fixed assets
Funds placed on fixed deposit
Net cash (used in)/provided by investing activities
Cash flows from financing activities
Net cash provided by financing activities
Change in cash and cash equivalents in the year
Cash and cash equivalents at the beginning of the year
Cash and cash equivalents at the end of the year
The notes on pages 13 to 30 form part of these financial statements		 2022
£
(59,786)
-
(21,211)
(50,349)
(71,560)
-
(131,346)
175,634
44,288		 2021
£
122,555
30,951
(30,787)
-
164
-
122,719
52,915
175,634

Page 12

KINGDOM FAITH CHURCH

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

1. General information

Kingdom Faith Church is a registered charity, number 278746, and is constituted under a Trust deed dated 21 September 1979. The Trustees were incorporated as a body on 4 May 2006 in the name "The incorporated Trustees of Kingdom Faith Church".

2. Accounting policies

2.1 Basis of preparation of financial statements

The financial statements have been prepared 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), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.

The financial statements have been prepared to give a 'true and fair' view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair' view. This departure has involved following the Charities SORP (FRS 102) published in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.

Kingdom Faith Church 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.

2.2 Income

All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.

Grants are included in the Statement of financial activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the Balance sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued.

2.3 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.

Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs.

Grants payable are charged in the year when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the year end are noted as a commitment, but not accrued as expenditure.

Page 13

KINGDOM FAITH CHURCH

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

2. Accounting policies (continued)

2.3 Expenditure (continued)

All expenditure is inclusive of irrecoverable VAT.

2.4 Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Charity; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.

2.5 Tangible fixed assets and depreciation

Tangible fixed assets costing £500 or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.

`Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.

Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following bases:

2.6 Stocks

Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

2.7 Debtors

Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

2.8 Cash at bank and in hand

Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

Fixed term bank deposits of more than three months and less than 12 months are shown as current asset investments.

Page 14

KINGDOM FAITH CHURCH

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

2. Accounting policies (continued)

2.9 Liabilities and provisions

Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.

Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.

Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of financial activities as a finance cost.

2.10 Financial instruments

The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

2.11 Pensions

The Charity operates a defined contribution pension scheme and the pension charge represents the amounts payable by the Charity to the fund in respect of the year.

2.12 Fund accounting

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 and which have not been designated for other purposes.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.

Investment income, gains and losses are allocated to the appropriate fund.

Page 15

KINGDOM FAITH CHURCH

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

3. Income from donations and legacies

Grants
Grants
Income from charitable activities
Income from charitable activities - Kingdom Faith Church
Income from charitable activities - Ministry
Income from charitable activities - Kingdom Faith Church
Income from charitable activities - Ministry		 Restricted
funds
2022
Unrestricted
funds
2022
£
£
1,500
-
Restricted
funds
2021
Unrestricted
funds
2021
£
£
8,000
168,007
Restricted
funds
2022
Unrestricted
funds
2022
£
£
28,096
813,957
19,263
147,456
47,359
961,413
Restricted
funds
2021
Unrestricted
funds
2021
£
£
7,750
859,694
29,274
144,160
37,024
1,003,854		 Total
funds
2022
£
1,500
Total
funds
2021
£
176,007
Total
funds
2022
£
842,053
166,719
1,008,772
Total
funds
2021
£
867,444
173,434
1,040,878

4. Income from charitable activities

Page 16

KINGDOM FAITH CHURCH

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

5. Income from other trading activities

Income from non charitable trading activities

Unrestricted
funds
2022
£
Trading income
12,741
Unrestricted
funds
2021
£
Trading income
6,973		 Total
funds
2022
£
12,741
Total
funds
2021
£
6,973

6. Investment income

Unrestricted
funds
2022
£
Investment income - local cash
964
Analysis of grants
Grants to
Institutions
2022
£
Grants, Kingdom Faith Church
-
Grants, Ministry
102,329
102,329		 Total
funds
2022
£
964
Grants to
Individuals
2022
£
298
30,670
30,968		 Total
funds
2021
£
-
Total
funds
2022
£
298
132,999
133,297

7. Analysis of grants

Page 17

KINGDOM FAITH CHURCH

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

7. Analysis of grants (continued)

Grants, Kingdom Faith Church
Grants, Ministry		 Grants to
Institutions
2021
£
-
47,840
47,840		 Grants to
Individuals
2021
£
2,039
40,105
42,144		 Total
funds
2021
£
2,039
87,945
89,984

8. Analysis of expenditure on charitable activities

Summary by fund type

Revival College
Kingdom Faith Church
Ministry
Revival College
Kingdom Faith Church
Ministry		 Restricted
funds
2022
Unrestricted
funds
2022
£
£
-
(820)
-
779,229
66,738
234,412
66,738
1,012,821
Restricted
funds
2021
Unrestricted
funds
2021
£
£
-
(2,058)
4,618
796,496
35,311
207,121
39,929
1,001,559		 Total
2022
£
(820)
779,229
301,150
1,079,559
Total
2021
£
(2,058)
801,114
242,432
1,041,488

Page 18

KINGDOM FAITH CHURCH

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

9. Analysis of expenditure by activities

Revival College
Kingdom Faith Church
Ministry
Revival College
Kingdom Faith Church
Ministry		 Activities
undertaken
directly
2022
£
(820)
778,931
114,135
892,246
Activities
undertaken
directly
2021
£
(2,058)
799,075
83,335
880,352		 Grant
funding of
activities
2022
£
-
298
132,999
133,297
Grant
funding of
activities
2021
£
-
2,039
87,945
89,984		 Support
costs
2022
£
-
-
54,016
54,016
Support
costs
2021
£
-
-
71,152
71,152		 Total
funds
2022
£
(820)
779,229
301,150
1,079,559
Total
funds
2021
£
(2,058)
801,114
242,432
1,041,488

Page 19

KINGDOM FAITH CHURCH

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

9. Analysis of expenditure by activities (continued)

Analysis of direct costs

Staff costs
Depreciation
Telephone
Administration
Premises repairs and renewals
Motor and travel
Printing, postage and stationery
Ministry costs
Computer expenses
Utilities
Housekeeping
Catering and team costs
Venue costs
Bad debts		 Revival
College
2022
£
-
-
-
-
-
-
-
-
-
-
-
-
-
(820)
(820)		 Kingdon
Faith
Church
2022
£
688,812
-
-
7,692
24,534
-
1,422
14,561
-
-
-
15,278
26,632
-
778,931		 Ministry
2022
£
-
12,543
13,359
-
14,897
17,053
5,867
-
19,251
29,313
1,852
-
-
-
114,135		 Total
funds
2022
£
688,812
12,543
13,359
7,692
39,431
17,053
7,289
14,561
19,251
29,313
1,852
15,278
26,632
(820)
892,246

Page 20

KINGDOM FAITH CHURCH

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

9. Analysis of expenditure by activities (continued)

Analysis of direct costs (continued)

Staff costs
Depreciation
Telephone
Administration
Premises repairs and renewals
Motor and travel
Printing, postage and stationery
Ministry costs
Computer expenses
Finance and interest charges
Utilities
Housekeeping
Catering and team costs
Venue costs
Bad debts
Analysis of support costs		 Revival
College
2021
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
(2,058)
(2,058)		 Kingdom
Faith Church
2021
£
711,017
-
-
17,087
40,285
-
-
7,813
-
-
-
-
6,664
16,209
-
799,075		 Ministry
2021
£
-
6,820
16,926
-
(12,903)
12,252
5,757
-
24,420
286
28,730
1,047
-
-
-
83,335		 Total
funds
2021
£
711,017
6,820
16,926
17,087
27,382
12,252
5,757
7,813
24,420
286
28,730
1,047
6,664
16,209
(2,058
880,352
Insurance
Legal and professional
Administration
Bank charges
Audit fee		 Ministry
2022
£
22,090
18,259
5,212
3,655
4,800
54,016		 Total
funds
2022
£
22,090
18,259
5,212
3,655
4,800
54,016

Page 21

KINGDOM FAITH CHURCH

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

9. Analysis of expenditure by activities (continued)

Analysis of support costs (continued)

Insurance
Legal and professional
Administration
Bank charges
Audit fee
10.
Auditors' remuneration
Fees payable to the Charity's auditor for the audit of the Charity's annual
accounts		 Ministry
2021
£
18,848
40,281
3,048
4,175
4,800
71,152
2022
£
4,800		 Total
funds
2021
£
18,848
40,281
3,048
4,175
4,800
71,152
2021
£
4,800

11. Staff costs

Wages and salaries
Social security costs
Contribution to defined contribution pension schemes		 2022
£
595,503
43,843
49,466
688,812		 2021
£
628,798
44,776
37,443
711,017

The average number of persons employed by the Charity during the year was as follows:

2022 2021
No. No.
Administrative and ministry 25 24

Page 22

KINGDOM FAITH CHURCH

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

11. Staff costs (continued)

The number of employees whose employee benefits (excluding employer pension costs) exceeded £60,000 was:

2022 2021
No. No.
In the band £80,001 - £90,000 1 2
In the band £100,001 - £110,000 1 -

Two trustees are included in the salary banding above. The Senior Pastor, his wife, son and daughter are all remunerated as employees of the church. The total remuneration and benefits package of all of them in aggregate are included in the totals disclosed in note 11 below.

12. Trustees' remuneration and expenses

During the year, one or more Trustees has been paid remuneration or has received other benefits from an employment with the Charity. The remunerated Trustees are employed as the Senior Pastor and Executive Pastor as permitted under clause 8 of the charity trust deed. The value of Trustees' remuneration and other benefits was as follows:

2022 2021
£ £
Mr. Simon Coles Remuneration 76,886 76,651
Pension contributions paid 6,400 5,234
Other benefits 7,952 5,533
Remuneration including close
Mr. Clive Urquhart family members 97,391 79,251
Pension contributions paid 8,112 5,666
Other benefits 7,433 5,327

During the year ended 31 December 2022, no Trustee expenses have been incurred (2021 - £NIL) .

Page 23

KINGDOM FAITH CHURCH

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

13. Tangible fixed assets

Cost or valuation
At 1 January 2022
Additions
At 31 December 2022
Depreciation
At 1 January 2022
Charge for the year
At 31 December 2022
Net book value
At 31 December 2022
At 31 December 2021		 Freehold
property
£
2,683,000
-
2,683,000
-
-
-
2,683,000
2,683,000		 Plant and
machinery
£
116,554
14,930
131,484
85,320
11,838
97,158
34,326
31,234		 Fixtures and
fittings
£
12,948
-
12,948
12,948
-
12,948
-
-		 Computer
equipment
£
39,610
6,281
45,891
39,271
705
39,976
5,915
339		 Total
£
2,852,112
21,211
2,873,323
137,539
12,543
150,082
2,723,241
2,714,573

The freehold land and buildings comprising Roffey Place, Horsham and National Revival Centre, Foundry Lane, Horsham were valued by Mr Daniel Berrisford for and on behalf of Ibbett Mosely Consultants LLP on 9 July 2010.

The properties have been valued at market value net of purchases cost of the freehold with vacant possession. The trustees are of the opinion that the valuation at the balance sheet date is not materially different to the value at the date of the valuation report.

The carrying amount under the cost model of the assets which have been revalued would have been £2,448,482 (2021 - £2,448,482) .

14. Stocks

2022 2021
£ £
Raw materials and consumables 3,885 5,002

Page 24

KINGDOM FAITH CHURCH

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

15. Debtors

Due within one year
Trade debtors
Other debtors
Prepayments and accrued income
16.
Current asset investments
Bank fixed deposits
17.
Creditors: Amounts falling due within one year
Bank overdrafts and credit cards
Trade creditors
Other taxation and social security
Pension fund contributions payable
Other creditors
Accruals and deferred income
18.
Financial instruments
Financial assets
Financial assets measured at fair value through income and expenditure		 2022
£
25
2,504
20,085
22,614
2022
£
50,349
2022
£
5,786
12,235
11,395
9,056
7,500
4,800
50,772
2022
£
100,423		 2021
£
-
-
23,585
23,585
2021
£
-
2021
£
2,836
6,687
11,814
5,879
25,500
4,800
57,516
2021
£
178,470

Financial assets measured at fair value through income and expenditure comprise bank and cash balances.

Page 25

KINGDOM FAITH CHURCH

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

19. Statement of funds

Statement of funds - current year

Unrestricted funds
General fund
Revaluation fund
Restricted funds
Child contact centre fund
Storehouse fund
Mission fund
Israel fund
New building fund
Specific gifts
Total of funds		 Balance at 1
January
2022
£
2,609,935
234,518
2,844,453
12,698
213
-
-
6,750
-
19,661
2,864,114		 Income
£
975,118
-
975,118
20,512
910
581
1,744
-
25,112
48,859
1,023,977		 Expenditure
£
(1,021,962)
-
(1,021,962)
(30,099)
(3,387)
-
(6,933)
(519)
(25,800)
(66,738)
(1,088,700)		 Transfers
in/out
£
(8,141)
-
(8,141)
-
2,264
-
5,189
-
688
8,141
-		 Balance at
31
December
2022
£
2,554,950
234,518
2,789,468
3,111
-
581
-
6,231
-
9,923
2,799,391

Page 26

KINGDOM FAITH CHURCH

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

19. Statement of funds (continued)

Statement of funds - prior year

Unrestricted
funds
General fund
Revaluation fund
Restricted
funds
Child contact
centre fund
Storehouse fund
Foyer
refurbishment
fund
Mission fund
Israel fund
New building
fund
Total of funds		 Balance at
1 January
2021
£
2,356,499
234,518
2,591,017
9,036
1,616
58,686
1,250
283
-
70,871
2,661,888		 Income
£
1,178,834
-
1,178,834
35,924
850
-
-
1,500
6,750
45,024
1,223,858		 Expenditure
£
(1,011,793)
-
(1,011,793)
(32,262)
(2,253)
-
(1,250)
(4,164)
-
(39,929)
(1,051,722)		 Transfers
in/out
£
56,305
-
56,305
-
-
(58,686)
-
2,381
-
(56,305)
-		 Gains/
(Losses)
£
30,090
-
30,090
-
-
-
-
-
-
-
30,090		 Balance at
31
December
2021
£
2,609,935
234,518
2,844,453
12,698
213
-
-
-
6,750
19,661
2,864,114

Restricted funds

The Israel, Storehouse, mission and church gift funds represent funds raised and spent on ministry projects of the church.

The child contact centre fund receives donations and uses the funds raised for running the project.

The new building fund represents funds raised for the purpose of acquiring a new building in the future.

Page 27

KINGDOM FAITH CHURCH

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

20. Summary of funds

Summary of funds - current year

General funds
Restricted funds		 General funds
Restricted funds		 Balance at 1
January
2022
£
2,844,453
19,661
2,864,114
Income
£
1,178,834
45,024
1,223,858		 Income
£
975,118
48,859
1,023,977
Expenditure
£
(1,011,793)
(39,929)
(1,051,722)		 Expenditure
£
(1,021,962)
(66,738)
(1,088,700)
Transfers
in/out
£
56,305
(56,305)
-		 Transfers
in/out
£
(8,141)
8,141
-
Gains/
(Losses)
£
30,090
-
30,090		 Balance at
31
December
2022
£
2,789,468
9,923
2,799,391
Balance at
31
December
2021
£
2,844,453
19,661
Summary of funds - prior year
General funds
Restricted funds		 Balance at
1 January
2021
£
2,591,017
70,871
2,661,888
2,864,114

21. Analysis of net assets between funds

Analysis of net assets between funds - current year

Tangible fixed assets
Current assets
Creditors due within one year
Total		 Restricted
funds
2022
Unrestricted
funds
2022
£
£
-
2,723,241
9,923
116,999
-
(50,772)
9,923
2,789,468		 Total
funds
2022
£
2,723,241
126,922
(50,772)
2,799,391

Page 28

KINGDOM FAITH CHURCH

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

21. Analysis of net assets between funds (continued)

Analysis of net assets between funds - prior year

Tangible fixed assets
Current assets
Creditors due within one year
Total		 Restricted
funds
2021
£
-
19,661
-
19,661		 Unrestricted
funds
2021
£
2,714,573
187,396
(57,516)
2,844,453		 Total
funds
2021
£
2,714,573
207,057
(57,516)
2,864,114

22. Reconciliation of net movement in funds to net cash flow from operating activities

Net income/expenditure for the year (as per Statement of Financial
Activities)
Adjustments for:
Depreciation charges
Decrease in stocks
Decrease/(increase) in debtors
Decrease in creditors
Net cash provided by/(used in) operating activities
Analysis of cash and cash equivalents
Cash in hand
Overdrafts and credit cards
Total cash and cash equivalents		 2022
£
(64,723)
12,543
1,117
971
(9,694)
(59,786)
2022
£
50,074
(5,786)
44,288		 2021
£
172,136
6,820
7,297
(2,773)
(60,925)
122,555
2021
£
178,470
(2,836)
175,634

23. Analysis of cash and cash equivalents

Page 29

KINGDOM FAITH CHURCH

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

24. Analysis of changes in net debt

Cash at bank and in hand
Bank overdrafts repayable on demand
Debt due within 1 year
Bank fixed deposits		 At 1
January
2022
£
178,470
(2,836)
(5,879)
-
169,755		 Cash flows
£
(128,396)
(2,950)
(3,177)
50,349
(84,174)		 At 31
December
2022
£
50,074
(5,786)
(9,056)
50,349
85,581

25. Pension commitments

The charity operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the charity in an independently administered fund. The pension cost charge represents contributions payable by the charity to the fund and amounted to £49,466 (2021 - £37,443) Contributions amounting to £9,056 (2021 - £5,879) were payable to the fund at the balance sheet date and are included in creditors.

Pension contributions payable in respect of the trustees are more fully disclosed in note 11.

26. Post balance sheet events

As indicated in the trustees' report, the church is exploring the acquisition of new premises in the North Horsham Development, Mowbray. Gifts received after the year end together with the gift aid attributable have enabled the trustees to set aside a designated building fund which when added to the restricted fund mean that the building funds available to facilitate the purchase of a new building now stands at slightly more than £2 million.

Page 30