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2024-12-31-accounts

Charity number: 278746

KINGDOM FAITH CHURCH

TRUSTEES' REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

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 - 28

KINGDOM FAITH CHURCH

REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2024

Trustees

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

Cripps LLP 36 - 48 Queen Street Horsham West Sussex RH13 5AD

Page 1

KINGDOM FAITH CHURCH

TRUSTEES' REPORT FOR THE YEAR ENDED 31 DECEMBER 2024

The Trustees present their annual report together with the audited financial statements of the Kingdom Faith Church for the year 1 January 2024 to 31 December 2024.

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)'.

Activities undertaken to achieve objectives

Notable activities and performance during the period were:

Jan 2024 started with 14 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 2024 we continued to run Alpha and Bereavement courses in person.

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 Church grew 20% in 2024.

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, and two Leaders gatherings in May and September.

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

There were will also other ministry trips to non-related Kingdom Faith churches throughout the UK and overseas.

We continued to support pastorally and financially over 20 overseas workers in multiple nations.

Roffey Place continues as a homeless shelter run by Turning Tides, who are a Christian charity based in West Sussex. The building is on a 5-year lease (ending October 2027) at a peppercorn rental and Turning Tides have management agreement to run the facility on behalf of Horsham District Homes. Turning Tides are seeing the facility housing fifty 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 2024

Achievements and performance

Review of activities

The current period produced a total deficit of £130,564. This was after non-cash depreciation charge of £19,169 (2023 - £14,129). As reflected in depreciation figures during 2024 and previous years we have invested heavily in buildings and equipment.

In addition, due to the large surplus in 2023, there was spending incurred during 2024 around tithing and giving away from the charity that took place. This was budgetted for and we still hold some 2023 income that will be given away in future years.

Direct charitable costs for the charity in 2024 were £56,599 less than in 2023.

We expect that going forward we will run a general budget surplus, but as mentioned above the large surplus in 2023 will mean extra spending in future years will be possible.

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 being met and cash at the balance sheet date was £2,094,672 cash and cash equivalents.

Structure, governance and management

Constitution

Kingdom Faith Church is a registered charity, number 278746, and is constituted under a Trust deed.

Methods of appointment or election of Trustees

The management of the Charity is the responsibility of the Trustees who are elected and co-opted under the terms of the Trust deed.

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.

Page 3

KINGDOM FAITH CHURCH

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

Structure, governance and management (continued)

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 had 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 5th 2025, 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 permission granted. 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 2024

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 year 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 7 October 2025 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 2024 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

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 2024

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 movement in funds
Reconciliation of funds:
Total funds brought forward
Net movement in funds
Total funds carried forward		 Restricted
funds
2024
£
-
17,989
-
-
17,989
-
11,812
11,812
6,177
16,801
6,177
22,978		 Unrestricted
funds
2024
£
-
899,322
18,738
105,240
1,023,300
12,340
1,147,701
1,160,041
(136,741)
4,946,354
(136,741)
4,809,613		 Total
funds
2024
£
-
917,311
18,738
105,240
1,041,289
12,340
1,159,513
1,171,853
(130,564)
4,963,155
(130,564)
4,832,591		 Total
funds
2023
£
2,500
3,427,001
18,869
76,583
3,524,953
13,498
1,347,691
1,361,189
2,163,764
2,799,391
2,163,764
4,963,155

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

The notes on pages 13 to 28 form part of these financial statements.

Page 10

KINGDOM FAITH CHURCH

BALANCE SHEET AS AT 31 DECEMBER 2024

Note
Fixed assets
Tangible assets
13
Current assets
Stocks
14
Debtors
15
Current asset investments
16
Cash at bank and in hand
Current liabilities
Creditors: amounts falling due within one
year
17
Net current assets
Total net assets
Charity funds
Restricted funds
19
Unrestricted funds
19
Total funds		 4,341
52,815
1,946,554
148,118
2,151,828
(40,318)		 2024
£
2,721,081
2,111,510
4,832,591
22,978
4,809,613
4,832,591		 4,499
61,761
2,153,842
68,510
2,288,612
(40,912)		 2023
£
2,715,455
2,247,700
4,963,155
16,801
4,946,354
4,963,155

The financial statements were approved and authorised for issue by the Trustees on 07 October 2025 and signed on their behalf by:

Mr. Simon Coles

The notes on pages 13 to 28 form part of these financial statements.

Page 11

KINGDOM FAITH CHURCH

STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2024

Cash flows from operating activities
Net cash used in operating activities
Cash flows from investing activities
Purchase of tangible fixed assets
(Purchase)/ disposal of investments
Net cash provided by/(used in) 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 28 form part of these financial statements		 2024
£
(101,546)
(24,795)
207,288
182,493
-
80,947
60,753
141,700		 2023
£
2,126,301
(6,343)
(2,103,493)
(2,109,836)
-
16,465
44,288
60,753

Page 12

KINGDOM FAITH CHURCH

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

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.

Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.

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.

Page 13

KINGDOM FAITH CHURCH

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

2. Accounting policies (continued)

2.3 Expenditure (continued)

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.

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 £NIL 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 basis:

Freehold property - Not depreciated
Plant and machinery - 25% Straight line
Fixtures and fittings - 25% Straight line
Computer equipment - 25% Straight line

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 2024

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.

Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.

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.

3. Income from donations and legacies

Restricted Total
funds funds
2024 2024
£ £
Grants - -

Page 15

KINGDOM FAITH CHURCH

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

3. Income from donations and legacies (continued)

Restricted Total
funds funds
2023 2023
£ £
Grants 2,500 2,500
4.
Income from charitable activities
Income from charitable activities
Income from charitable activities		 Restricted
funds
2024
Unrestricted
funds
2024
£
£
17,989
899,322
Restricted
funds
2023
Unrestricted
funds
2023
£
£
128,088
3,298,913		 Total
funds
2024
£
917,311
Total
funds
2023
£
3,427,001

5. Income from other trading activities Income from non charitable trading activities

Unrestricted
funds
2024
£
Trading income
18,738
Unrestricted
funds
2023
£
Trading income
18,869		 Total
funds
2024
£
18,738
Total
funds
2023
£
18,869

Page 16

KINGDOM FAITH CHURCH

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

6. Investment income

Unrestricted
funds
2024
£
Investment income - local cash
105,240
Unrestricted
funds
2023
£
Investment income - local cash
76,583		 Total
funds
2024
£
105,240
Total
funds
2023
£
76,583

7. Analysis of grants

Grants
Grants		 Grants to
Institutions
2024
£
85,365
Grants to
Institutions
2023
£
203,052		 Grants to
Individuals
2024
£
40,335
Grants to
Individuals
2023
£
39,729		 Total
funds
2024
£
125,700
Total
funds
2023
£
242,781
8. Analysis of expenditure on charitable activities
Summary by fund type
Restricted Unrestricted
funds funds Total
2024 2024 2024
£ £ £
Charitable expenditure 11,812 1,147,701 1,159,513

Page 17

KINGDOM FAITH CHURCH

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

8. Analysis of expenditure on charitable activities (continued)

Summary by fund type (continued)

Restricted Unrestricted
funds funds Total
2023 2023 2023
£ £ £
Charitable expenditure 124,254 1,223,437 1,347,691

9. Analysis of expenditure by activities

Charitable expenditure
Charitable expenditure		 Activities
undertaken
directly
2024
£
977,746
Activities
undertaken
directly
2023
£
1,034,345		 Grant
funding of
activities
2024
£
125,700
Grant
funding of
activities
2023
£
242,781		 Support
costs
2024
£
56,067
Support
costs
2023
£
70,565		 Total
funds
2024
£
1,159,513
Total
funds
2023
£
1,347,691

Page 18

KINGDOM FAITH CHURCH

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

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
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		 Kingdom
Faith
Church
2024
£
775,727
19,169
12,832
7,248
27,623
21,110
4,866
17,669
8,753
31,139
2,281
21,921
27,408
977,746
Kingdom
Faith Church
2023
£
828,078
14,129
14,292
7,241
26,795
22,566
6,358
15,941
10,158
35,033
2,428
21,873
29,453
1,034,345		 Total
funds
2024
£
775,727
19,169
12,832
7,248
27,623
21,110
4,866
17,669
8,753
31,139
2,281
21,921
27,408
977,746
Total
funds
2023
£
828,078
14,129
14,292
7,241
26,795
22,566
6,358
15,941
10,158
35,033
2,428
21,873
29,453
1,034,345

Page 19

KINGDOM FAITH CHURCH

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

9. Analysis of expenditure by activities (continued)

Analysis of direct costs (continued)

Analysis of support costs

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
11.
Staff costs		 Total
funds
2024
£
29,929
10,008
4,335
5,555
6,240
56,067
2024
£
5,640		 Total
funds
2023
£
26,461
28,086
4,291
6,687
5,040
70,565
2023
£
5,040
Wages and salaries
Social security costs
Contribution to defined contribution pension schemes		 2024
£
668,986
46,765
59,976
775,727		 2023
£
719,204
51,882
56,992
828,078

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

2024 2023
No. No.
Administrative and ministry 23 25

Page 20

KINGDOM FAITH CHURCH

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

11. Staff costs (continued)

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

2024 2023
No. No.
In the band £90,001 - £100,000 1 -
In the band £100,001 - £110,000 - 1
In the band £120,001 - £130,000 1 -
In the band £140,001 - £150,000 - 1

Two trustees are included in the salary banding above. The Senior Pastor, his wife, son and daughter have been employed during the year and remunerated accordingly. In addition, the Senior Pastor's mother receives a lifetime founders pension which has been included along with all the benefits of the other close family members 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:

2024 2023
£ £
Mr. Simon Coles Remuneration 86,978 92,987
Pension contributions paid 8,659 7,370
Other benefits 360 818
Remuneration including close
Mr. Clive Urquhart family members 117,309 134,130
Pension contributions paid 9,512 9,927
Other benefits 1,170 777

During the year ended 31 December 2024, no Trustee expenses have been incurred (2023 - £NIL) .

13. Tangible fixed assets

Cost or valuation
At 1 January 2024
Additions
At 31 December 2024		 Freehold
property
£
2,683,000
-
2,683,000		 Plant and
machinery
£
137,827
24,795
162,622		 Fixtures and
fittings
£
12,948
-
12,948		 Computer
equipment
£
45,891
-
45,891		 Total
£
2,879,666
24,795
2,904,461

Page 21

KINGDOM FAITH CHURCH

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

13. Tangible fixed assets (continued)

Depreciation
At 1 January 2024
Charge for the year
At 31 December 2024
Net book value
At 31 December 2024
At 31 December 2023		 Freehold
property
£
-
-
-
2,683,000
2,683,000		 Plant and
machinery
£
110,867
17,599
128,466
34,156
26,960		 Fixtures and
fittings
£
12,948
-
12,948
-
-		 Computer
equipment
£
40,396
1,570
41,966
3,925
5,495		 Total
£
164,211
19,169
183,380
2,721,081
2,715,455

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 costs 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 Charity has adopted a policy of revaluation for tangible fixed assets. Had these assets been measured at historic cost, the carrying values would have been as follows:

Freehold property
14.
Stocks
Raw materials and consumables		 2024
£
2,448,482
2024
£
4,341		 2023
£
2,448,482
2023
£
4,499

Page 22

KINGDOM FAITH CHURCH

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

15.
Debtors
Due within one year
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		 2024
£
1,350
51,465
52,815
2024
£
1,946,554
2024
£
6,418
5,477
11,947
10,836
-
5,640
40,318
2024
£
2,094,672		 2023
£
1,977
59,784
61,761
2023
£
2,153,842
2023
£
7,757
7,585
12,435
8,330
5
4,800
40,912
2023
£
2,222,352

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

Page 23

KINGDOM FAITH CHURCH

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

19. Statement of funds

Statement of funds - current year

Balance at 1
January
2024
£
Unrestricted funds
Designated funds
New building
2,000,000
General funds
General fund
2,711,836
Revaluation fund
234,518
2,946,354
Total Unrestricted funds
4,946,354
Restricted funds
Benevolent
-
Storehouse fund
6,673
Mission fund
519
Israel fund
2,539
New building fund
7,070
Specific gifts
-
16,801
Total of funds
4,963,155		 Income
£
Expenditure
£
-
-
1,023,300
(1,160,041)
-
-
1,023,300
(1,160,041)
1,023,300
(1,160,041)
4,096
(3,984)
3,930
(2,474)
250
(250)
6,477
(3,303)
1,431
-
1,805
(1,801)
17,989
(11,812)
1,041,289
(1,171,853)		 Balance at
31
December
2024
£
2,000,000
2,575,095
234,518
2,809,613
4,809,613
112
8,129
519
5,713
8,501
4
22,978
4,832,591

Page 24

KINGDOM FAITH CHURCH

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

19. Statement of funds (continued)

Statement of funds - prior year

Unrestricted
funds
Designated
funds
New building
General funds
General fund
Revaluation
fund
Total
Unrestricted
funds
Restricted
funds
Benevolent
Child contact
centre fund
Storehouse fund
Staff fund
Mission fund
Israel fund
New building
fund
Specific gifts
Total of funds		 Balance at
1 January
2023
£
-
2,554,950
234,518
2,789,468
2,789,468
-
3,111
-
-
581
-
6,231
-
9,923
2,799,391		 Income
£
-
3,394,365
-
3,394,365
3,394,365
581
20,618
4,981
64,435
-
3,104
839
36,030
130,588
3,524,953		 Expenditure
£
-
(1,236,935)
-
(1,236,935)
(1,236,935)
(1,125)
(19,505)
(2,532)
(64,435)
(62)
(565)
-
(36,030)
(124,254)
(1,361,189)		 Transfers
in/out
£
-
(2,000,544)
-
(2,000,544)
(2,000,544)
544
(4,224)
4,224
-
-
-
-
-
544
(2,000,000)		 Gains/
(Losses)
£
2,000,000
-
-
-
2,000,000
-
-
-
-
-
-
-
-
-
2,000,000		 Balance at
31
December
2023
£
2,000,000
2,711,836
234,518
2,946,354
4,946,354
-
-
6,673
-
519
2,539
7,070
-
16,801
4,963,155

Page 25

KINGDOM FAITH CHURCH

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

19. Statement of funds (continued)

Restricted funds

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

The child contact centre fund which used the funds raised for running the project was closed in the year with the balance of the funds transferred to the Storehouse fund.

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

20. Summary of funds

Summary of funds - current year

Designated funds
General funds
Restricted funds		 Designated funds
General funds
Restricted funds		 Balance at 1
January
2024
£
2,000,000
2,946,354
16,801
4,963,155
Income
£
Expenditure
£
-
-
3,394,365
(1,236,935)
130,588
(124,254)
3,524,953
(1,361,189)		 Income
£
Expenditure
£
-
-
1,023,300
(1,160,041)
17,989
(11,812)
1,041,289
(1,171,853)
Transfers
in/out
£
Gains/
(Losses)
£
-
2,000,000
(2,000,544)
-
544
-
(2,000,000)
2,000,000		 Balance at
31
December
2024
£
2,000,000
2,809,613
22,978
4,832,591
Balance at
31
December
2023
£
2,000,000
2,946,354
16,801
Summary of funds - prior year
Designated
funds
General funds
Restricted funds		 Balance at
1 January
2023
£
-
2,789,468
9,923
2,799,391
4,963,155

Page 26

KINGDOM FAITH CHURCH

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

21. Analysis of net assets between funds

Analysis of net assets between funds - current period

Tangible fixed assets
Current assets
Creditors due within one year
Total
Analysis of net assets between funds - prior period
Tangible fixed assets
Current assets
Creditors due within one year
Total
22.
Reconciliation of net movement in funds to net cash flow
Net income/expenditure for the period (as per Statement
Activities)
Adjustments for:
Depreciation charges
Decrease/(increase) in stocks
Decrease/(increase) in debtors
Increase/(decrease) in creditors
Net cash provided by/(used in) operating activities		 Restricted
funds
2024
Unrestricted
funds
2024
£
£
-
2,721,081
22,978
2,128,850
-
(40,318)
22,978
4,809,613
Restricted
funds
2023
Unrestricted
funds
2023
£
£
-
2,715,455
16,801
2,271,811
-
(40,912)
16,801
4,946,354
from operating activities
2024
£
of Financial
(130,564)
19,169
158
8,946
745
(101,546)		 Total
funds
2024
£
2,721,081
2,151,828
(40,318)
4,832,591
Total
funds
2023
£
2,715,455
2,288,612
(40,912)
4,963,155
2023
£
2,163,764
14,129
(614)
(39,147)
(11,831)
2,126,301

Page 27

KINGDOM FAITH CHURCH

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

23. Analysis of cash and cash equivalents

Cash in hand
Overdrafts and credit cards
Total cash and cash equivalents		 2024
£
148,118
(6,418)
141,700		 2023
£
68,510
(7,757)
60,753

24. Analysis of changes in net debt

Cash at bank and in hand
Bank overdrafts repayable on demand
Debt due within 1 year
Liquid investments		 At 1
January
2024
£
68,510
(7,757)
(8,330)
2,153,842
2,206,265		 Cash flows
£
79,608
1,339
(2,506)
(207,288)
(128,847)		 At 31
December
2024
£
148,118
(6,418)
(10,836)
1,946,554
2,077,418

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 £59,976 (2023 - £56,992) Contributions amounting to £10,863 (2023 - £8,330) 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.

Page 28