Charity Registration Number: 512642 King's Church, Wirral Financial Statements for the year ended 31st March, 2024
Page 1 King's Church, Wlrral Contents Page Legal and Adminislralive Infonnation Trustees, Report Independent Examinefs Report ststemenl of Financial Aclivities Balance Sheet Notes to the Financial Statements 9-15
Page 2 King's Church. Wirral Charity Information Charity Name: King's Church, Wirral Charity Registration Number: 512642 Governing Document: Declaration of Trust dated 28th April. 1982. as amended on 17th June. 1991 The Trustees are incorporated as a body. Principal Business Address: 1 Victoria Fields Birkenhead Wirral Merseyside CH42 OPF Trustees." M. A. McGrath C. Orr Ms S. P. Pearson l. S. Roberls G Duffield Ind8p&ndent Examin8r'. Paul Collins F.C.A. Collins & Co Chartered Accountants Suite 13 Hattersley House 1 Hattersley Court Ormskirk LanGS L39 2AY Bankers: Natwest Bank plc West Kirby Liverpool Customer Service Centre stevenson Way, Wavertree Liverpool L13 1 NW Solicitors: PerGey Hughes & Roberts 19 Hamilton Square Birkenhead Wial CH416AY
Page 3 Klng's Chur¢h, Wlrral Trustees. Report for the year ended 31st March, 2024 The trustees present their annual report and the financial statements for the year ended 31st March, 2024. Reference and adminlstrative delalls The detsils are set out on page 2. Trustees The trustees who served during the year are as stated below: M. A. McGrath C. Orr Ms S. P. Pearson l. S. Roberts G Duffield Structure Governance and Mana Governing document The charity is an unincorporated charity governed by its Declaration of Trust dated 28th April. 1982. as amended on 17th June. 1991. It is registered as a charty with the Charty Commission. ement Appointmenl of truste•s The trustees of the charty, under the charitys trust Deed, are known as the truslees. Under the requirements of the Trust Deed, the Trustees are eligible lo appoinl additional trustees from amongst the Church's membership. Tru$t•• induction and training New trustees meet wlth the existing trustees to brief them on their legal obligations under charity law, the content of the Trust Deed, the truslees and decision making processes, the business plan and recent financial performance of the charlty. Trustees are encouraged to attend appropriate extemal training events where these will facilitate the undertaking of their role. Organlsation The board of knjstees. which must have a minimum of 3 members. administers the charity. The board meets regularly through the year to review strategy, performance, operating plans, budgets and building matters. Risk management The Irustees have a risk management strategy which includes". an annual review of the risks the charity may face: the eslablishment of systems and procedures to mitigate those risks identified in the plan" and the implementation of procedures designed to minimise any potential impact on Ihe charity should those risks materialise. implementation and annual review of the child protection policy and guidelines. ongoing review of compliance with Disability Discriminatiori Act. development and implementalion of other risk management procedures including health and safety and fire safety. a financial reserves policy; an inv8Strnent policy. Ob ectiv• and activities The objects of the charity are: the advancement of the Christian faith and the worship of God. the relief of persons who are in condltlons of need. hardship or distress. or who are aged and sick. the advancement of education on the basis of Christian principles and the worship of God.
Page 4 King's Church. Wlrral Trust•es' Report for the year ended 31st March, 2024 {contlnued) ctlve and actlvltles continued When planning our activltles for the year, the trustees gave consideration to the Charity Commission's guidance on public benefit and, In particular, the specific guidance to charities concerned with the advancement of religion. The actÈvities undertaken by the Church to further its objectlves were: conducting meetings running community projects organising activities and groups working closely with other Christian organisations. Volunteers The charity is grateful for the commitment of its volunteers who are involved in all aspects of the charitys operations. Achlevements and rformance durin the ar As a church we are situated in one of Ihe most socially deprived areas of the country. W8 continue to reach out and serve our local neighbourhood by establishing a community hub. The Tots group continues to be very much appreciated by the community and has an excellent reputation. It has been good to have local community representatives dropping in to offer support and adviGe to the families who regularly come along. We work together really well with the local supported-housing officer, who offers a drop-in 'surgerf for the residents. We have been conlinuing to attract VarU8 groups who rent parts of our building for regular groups such as a veklY Children's Centre Stay and Play, Diabetes Prevention group, Training Sessions around such things as mentsl health, Counselling, providing education with re¢ognised qualifications. Throughout the year we have organised community events for families. Easter, Summer Fun Day, Winter Wonderland, Carols in the local pub. We have raised donations for Macmillan Cancer Support, regular support of the Wirral Food Bank and Christmas shoeboxes for the Teams4U charity who work into Eastern Europe. Donations from our members has enabled us to strip out and replace the entire central heating systern. Funding reiVed has enabled us to completely refurbish the crèche area. adding new toilets and small kitchen Overall it has been a very encouraging year Financial Revlew Results forth6 yaar The results for the year are set out on page 7. Grant making policy The trustees make payments on a case by case basis . Investment powers and pollcy Under the Trust Deed. the charity has the power to invest in any way the trustees wish. R•$erv•s pollcy The trustees have established the level of reserves {that is those funds thal are freely available) that the charity ought to have, which Is equal to Iwelve months. of normal unrestricted expenditure. Reserves are needed to even out any short term funding gaps between spending and the related income. The trustees therefore consider that the ideal level of reserves as at 31 st March 2024 1Nould be £110.000 (2023: £110,000).
Page 5 Klng's ChUh, Wirral Trustees. Report for the year ended 31st March, 2024 {contlnuedJ R•$•rves pollcy (¢ontlnu•d) The actual reserves at 31st March 2024 were £23,316 {2023: £13,996), which is £86.684 (2023: £96,004) short of our target figure of £110,000 (2023: £110,000). In calculating reserves. the trustees have excluded from total funds, restricted income funds (£13,026) and tangible fixed assets {£76,873). We, therefore, will be examining ways to increase Ihe level of reserves in the coming year. Plans for future eriods Our plans for the coming year are very community focussed. We will conlinue organising more community fun days, using our premises for groups and charities that are directed towards helping people in the locality with various practical and mental health needs. We remain open to new initiatives in our ongoing mission to share the good news of Jesus Christ in our localty, strengthen and grow the church and continue supporting ministries and charities both home and abroad. We aim to keep on with improvements to the building to further enhance Ils appearance and so attract further groups that will be a blessing to th8 community Trustees. res onslbllltles In relatlon to the flnancial statements Charity law requires the trustees to prepare financial ststements for each financial year which give a true and fair view of the state of affairs of the charlty and of its surplus or deficit for Ihat year. In preparing those financial statemenls, the trustees are required to: select sultable accountlng pollcles and then apply them consistently, make judgements and estimates that are reasonable and prudent; stsle vknether applicable Accounting Standards and Statements of Recommended Practice have been foll0vd, subjecl to any departures disdosed and explained in the financial statements: and prepare the financial statements on the going concem basis unless it is inappropriate to presume that the charty will continue in business. The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the company and to enable them to ensure that the financlal statements comply with the Charities Act 2011. 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. This report was approved by the Board of Trustees on 14th September 2024 and signed on its behalf by.. C. Orr Chairman
Page 6 Klng's Church, Wirral Independent Examlnerfs Report to the Trustees of King's Church, Wlrral I report to the truste8s on my examination of the accounts of the Trust for the year ended 31 st March. 2024 which are set out on pages 7 to 15. Responsibilitles and basis of report As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Chartties Act 2011 {the Act). I report in respect of my examination of the Trust's accounts carried out under section 145 of the 2011 Act and in carrying out my 8xamination I have followed all the applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act. Independent Examiner's Statement I have completed my examination. I can confimi that no material matters have come to my attention in connection Wtth my examination giving me cause to believe that in any material respect: 1. accounting records were not kept in respect of the Twst as required by section 130 of the Act. or 2. the accounts do not accord with those records: or 3. the accounts do not comply with the applicable requiremenls conceming the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a Irue and fair vievf which is not a matter considered as part of an independent examination. I have no concerns and have come across no other matters in connection with the examinalion lo which attention should be drawn in this report in order lo enable a proper understanding of the accounts to be reached. Paul Collins F.C.A. Collins & Co Chartered Accountants Sulte 13 Hattersley House Omiskirk Lancs L39 2AY 14th September 2024
Page 7 Klng's Church, Wlrral Statement of Financial Activltles for the year ended 31st March, 2024 Unrestricted Restricted Funds Funds TOTAL FUNDS 2024 2023 Note INCOME FROM: Donations and Legacies 96,564 41,856 138.420 89.916 Other trading activities 11,258 11.258 7.365 Investments Charitable activities 8.973 8,973 10.130 Other incorne TOTAL INCOME 116.795 41.856 158,651 107.411 EXPENDITURE ON.. Raislng funds Charitable activities 110,319 30,792 141,111 135,098 TOTAL EXPENDrruRE 110,319 30,792 141,111 135.098 NET (EXPENDITURE)IINCOME 6,476 11,064 17,540 {27.687) TRANSFERS BEfwEEN FUNDS NEf MOVEMENT IN FUNDS 6.476 11,064 17,540 {27.687) RECONCILIATION OF FUNDS Total funds brought forward at 1st April. 2023 93,713 1,962 95,675 123,362 Total funds carried forward at 31st March. 2024 100,189 13,026 113.215 95.675 The notes on pages 9 to 15 form part of these accounts.
King's Church, Wlrral Page 8 Balance Sheet at 31st March. 2024 2024 2023 FIXED ASSETS Tangible fixed assets Note 76,873 79.717 CURRENT ASSErs Debtors Cash at bank and in hand 12 15,605 24.123 39,728 11.493 11.154 22,647 Totsl current assets CREDrroRS: AMOUNTS FALLING DUE WITHIN ONE YEAR 13 3.386 6.689 NET CURRENT ASSErs 36.342 15,958 TOTAL ASSETS LESS CURRENT LIABILITIES CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR 113,215 95,675 TOTAL NET ASSETS 113,215 95,675 THE FUNDS OF THE CHARITY Unre51ricted Restrlcted 14 100,189 13,026 113,215 93,713 1.962 95,675 Total charity funds Approved by ihe Board of Trustees on 14th September 2024 and signed on its beh C. Orr tsrath The notes on pages 9 to 15 form part of these accounls.
King's Church. Wirral Pag8 9 Notes to tho Financlal Statements forthè year endod 31st March. 2024 Accounting pollcies The financial statements have been prepared under the historical cost convention except for the valuation of investment assets. whlch are shown at market value. The finanoal ststements have been prepared in accordance with the Statement of Re¢ommended Practice - Accounting and Reporting by Charities {SORP 2015 FRS 102) and applicable UK Accounting Stsndards. Funds General funds represent th8 funds of the charity that are not subject to any restrictions regarding their use and are available for application on the general purposes of the charity. Funds designated for a particular purpose by the trustees are also unrestricted. Restricted funds are funds subject to specific conditions imposed by the donors or through the tem)s of an appeal. Transfers of funds are made to recognise the release of restricted funds or to meet expenditure not covered by restricted incom8. The accounts include all transactions. assets and liabilities for which the ¢harity Is held responslble in law. They do not include the accounts of groups that owe their main affiliation to another body. Income Donations and legaGies Voluntary income received by way of grants, donations and gifts is included in the Slalemenl of Financial Activities in the year in which it is received by or on behalf of the charity. Grants. where enlitlement is nol conditional on the delivery of a specific parfom)ance by Ihe charlty, are recognised when the charity becomes unconditionally entlued to the grant. The charity received subslanlial amounts of voluntary help from its supporters, but no attempt is made to place a financial value on these services and th8y have nol be8n Included. Grants re1vable Grants are credited to the Statement of Financial Activities in the year in which they ar8 receivable. Other income Rental income from the letting of the charitrfs premis8s is recognlsed when the rental is due. Income from investments Dividends and interèst ar8 atUnted for when due and payable. Int6r6st entidements are accounted for as they accwe. Tax recov6rable on such income is recognised in the same accounting period. Galns and losses on inv6Stments Realised galns or losses are recognised when inv8strnents are sold. Unrealised gains or losses are accounted for on rèvaluation of investments at 315t March. Volunteers No amounts are included in the financial statements for services donated by volunteers.
Page 10 King's Church, Wlrral Notes to the Financlal Statements for Ihe year ended 31st March, 2024 (cont5nued) A¢countlng pollcles {cont.) Expendlture Grants Grants and donalions are accounted for when paid over, or when awarded, if that award creates a binding obligation on the charity. Raising funds All expenses relating to fundraising, publicity, public relations and inveslment management Charges are charged to this heading. Charitsbl8 activitl8S Charitable activities comprises those costs incurred by the charity in the delivery of its activlties and services for its beneficiaries. It includes both the costs that can be allocated directly lo such activities and those costs of an indirect nature necessary to support them. Irrecoverable VAT All resources expended are classified und8r activity headings that aggregate all costs relaled to the category. Irrecovarable VAT is charged against the category of resources expended for which it was incurred. Tangible fixed assets and depreclation Depreciation Is provided at rates calculated to write off the cost less residual value of each asset over its expected useful lrfe. as follows: Freehold leasehold land and buildings 2°/0 on cost (or valualion) Fixtures & fittings 200/0 reduclng balance Musical equipment 200/0 reducing balance All equipment, fixtures and fittings with an original cost of less than £500, are written off in the year in which the expendlture was incurred on the basis that due to the nature of the charitys activilies, there Is no expectstion that the cost of the assets will be recovered in the way of future revenues. Invèstments Investments are valued at market value at 31st March. The statement of financial activities includes the net gains and losses arising on revaluation and disposals throughout Ihe year. Current Assets Amounts owing to the charity at 31 st March In respect of fees, rents or other income are shown as debtors less provlsion for amounts that may prove uncollectible. Short-term deposits include cash held on deposit at the bank. Operating Leases Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are Gharged to the income and expenditure account as incurred. Contlngent Liabilities and ProvSslons In accordance with the SORP, a contingent liability is disclosed for those grants, which do not represent liabilities, where the possible obligation, which arises from past events, will only be confirmed by the occurrence of one or rn0 uncertain future events not wholly wlthin the trustees, control. Provisions are recognised for those grants where there is uncertainty as to the timing or amount, and any uncertainty regarding Ihe amount is more than one of determining a basis for reasonable estirnation of Ihe liability arising from that constructive obligation.
Page 11 Klng's Church. Wirral Noto$ to the Flnanclal Statements for th• year ended 31st March, 2024 (continued) 1 Ac¢ountlng policies (cont.) Charftable status and laxatlon As a registered charity, the charity benefts from rates, relief and is generally exempt from income tax and corporation tax. The charity is nol registered for value added tax. Unrestricted Restrfcted TOTAL Unrestricted Restrlcted TOTAL Funds Funds 2024 Funds Funds 2023 2 Donations and Legacies Planned Giving: Gift Aid donations Income Tax recoverable Collections (open plate) at all serVIS Grants Donations 54.046 12.486 30,032 10.164 2,451 64,210 14,937 30,032 3,350 25.891 138,420 47,941 10.010 21,655 6,739 540 54.680 10,550 21,655 3,350 25.891 41,856 3.031 10,310 3,031 89.916 96,564 79,60 3 Other trading activities Funday and Fundraising Rent receivable from church premises Other Income 3,349 7,650 259 3,349 7,650 259 11,258 365 1,260 6.105 1.260 6.105 4 Investments Dividends and interest (includlng any rèclaimed lax): - on cash deposits S Charitable activities Outreach Income King's Cafe and communty catering 2.537 6,436 8.973 2.537 6.436 8,973 2.880 7,250 10,130 2.880 7.250 10.130 6 Other Income Sales of assets 7 Ralslng funds Giving Envelopes
Page 12 Klng's Church, Wirral Notes to the Financlal Statements for the year ended 31st March, 2024 (contlnued) Unrestricted Restricted TOTAL Unrestricted Ro$trl¢t•d TOTAL Funds Funds 2024 Funds Funds 2023 8 Charitable activities Missionary & charitable giving- PidugulD Connolly A. Smith Together for the Harvest Wirral Youth for Christ Macmillan Cancer Care Sundries 4,800 3.000 300 360 118 245 8.823 4.800 3.000 300 360 540 417 9,417 4,800 3,000 300 360 4.800 3,000 300 360 422 172 594 551 200 751 9.211 9,011 200 Ministy: Costs of services Wages and salaries Employers pension costs Church costs: Water charges Insurance Heat and light Repairs and maintenance Heating System Cleaning and waste disposal 172 64.213 1,599 172 64,213 1,599 262 63,157 1,515 262 63.157 1.515 866 4,041 6,029 2,766 866 4,041 6,029 5,255 26,920 1,365 607 3,446 6,937 1.907 607 3.446 6,937 26,621 2,489 26,920 24,714 1,365 1,064 èi1il. 1,064 291 941 515 2.740 681 114 4,543 1.648 349 2.280 1,230 1,320 2,782 2.844 Sunday school, King's Kids & Youth Work Bank charges Website costs Catering Licences Computer Costs King's Café and community catering Outreach costs Printing, postage and stationery Hire of equipment Telephone Independent examinalion Sundries Depreciation on land & buildings 196 809 558 3.140 905 109 3,401 2.032 248 1,891 1.331 1,380 1.601 2,844 196 809 558 3,140 905 109 3,401 2,032 248 1,891 1,331 1,380 2,390 2,844 291 941 515 2,740 681 114 4.543 1.648 349 2,280 1.230 1,320 2.149 2,844 789 633 110,319 30.792 141,111 109.551 25,547 135,098
Page 13 King's Church, Wirral Notes to the Financial Statements for the year ended 31st March, 2024 (continued) 9 Net income 2024 2023 Net income is slated after charging: Depreciation of tsngible fixed assets ProfiV(loss) on disposal of red assets Staff costs (see note 10) Independent Examination 2,844 2,844 65,812 1,380 64,672 1,320 10 Staff Costs 2024 2023 Wages and Salaries Pension costs 64,213 1,599 65,812 63.157 1.515 64,672 The average number of full-time equivalent employees (induding casual and part-time staff) employed by the Charity during the year was as follows: 2024 2023 Self employed pastor Management & Administration During the year the charity employed members of staff as detailed above. None (2023: None) of whom earned more than £60.000 p.a. One of the trustses {Mr C. Orr) received £35,000 feeslremuneration (2023.. £35,000) during the year. Mr Orr was also reimbursed working expenses of office of £NIL (2023: £NIL) for the year. There were no other discloseable transactions in respect of trustees, persons closely connected with them or other related parties. 11 Tangible Flxed Assets Freehold land Fixtures & & bulldlng$ flttlngs Mu$lcal equlpment Total COST OR VALUATION At 1st April, 2023 Additions 142,213 23.858 14.473 180,544 At 31st March. 2024 142,213 23,858 14,473 180.544 DEPRECIATION At 1st April, 2023 Charge for the year At 31st March, 2024 62,498 23,857 14,472 100.827 2.844 103.671 65,342 23,857 14,472 NET BOOKVALUE At 31st March, 2024 76.871 76.873 At 31st March, 2023 79,715 79.717
Page 14 Klng's Church, Wirral Notes to the Financial Statements for the year ended 31st March, 2024 (contlnued) 11 Tangible Fixed Ass•ts The freehold and leasehold buildings consist of the church premises. Church fixtures & frttings comprises varlous items shown at cost. Church musical equipment comprises various items shown at cost. 12 D8btors 2024 2023 Income Tax recoverable Trade Debtors 14,925 680 15,605 11.349 144 11.493 13 Llabllltles: Amounts falling due within on• yoar 2024 2023 Trade Creditors Other taxes and social security costs Accruals and deferred income 732 804 1,850 3.386 2,060 735 3,894 6,689 14 Analysls of Net Assets by Fund Unre$tri¢tod Funds R•strfcted Funds Total Fixed Assets CUrnt Assels Current Liabilities Liabilities after more than one year Fund Balance 76,873 26,702 (3.386) 76,873 39.728 (3,386} 13,026 100,189 13,026 113.215 15 Movemont on funds At 1st April. 2023 Incomlng Resources (inc. gains) At 31st March, 2024 Outgoing Resources Transfers Unrestricted funds Capital Asset Fund General fund Total unr8Stricted funds Restricted funds Building Fund Earmarked income Total restricted funds Total funds 79,717 13,996 93.713 76.873 23,316 100.189 116.795 116,795 107,475 110,319 40.242 1,614 41,856 158,651 28,868 1.924 30,792 141.111 11,374 1.652 13,026 113.215 1,962 1.962 95.675 Page 15
King's Church, Wlrral Notes to the Financial Statsments for the ar •nded 31st March, 2024 {contlnued) 16 Fund Detalls Details of th8 various funds held by the charity ar8 as follows: Name of fund Descriptlon. nature and purposes of the fund Unrestricted funds Capital Asset Fund This fund represents the net book value of fixed assets at the year end date which cannot be readily converted into liquid funds at short notice. Any monies not Included in any other fund. General fund Restrl¢ted funds Building Fund This fund was set up lo collect monies to be used as when required for the continual repair and refurbishment of the Church building. This fund was set up lo collect small amounts of money which is restricted in its use. These monies typically relate to church conferences and donations received towards the work of other charitable organisations. Earmarked income fund 17 Taxatlon As a charity. King's Church. Wial is exempt from tax on income and gains to the extent thal these are applied to its charitable objects. No tax charges have arisen in Ihe Charty. 18 Contlngent Ilabllltl•s The charity had no contingent liabllities at 31 st March. 2024 (2023: None). 19 Capital Commitments The charity had no capital commltments at 31 st March, 2024 (2023: None) either contracted for or authorised by the Irustees but not contracted for.