Charity registration number 1109392
Company registration number 05034302 (England and Wales)
THE KING'S CHURCH DURHAM
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
THE KING'S CHURCH DURHAM
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
Ms K M Jacklin
Dr P D Morley
Mr A B F Weir
Dr M A Bonnington
Mr A M Rose
Dr A Millard
Secretary
Mr C J Morgan
Charity number
1109392
Company number
05034302
Registered office
30 Fieldhouse Lane
Durham
Co. Durham
England
DH1 4LT
Independent examiner
Stephen Lamb, FCA
12 Bessemer Court
Hownsgill Industrial Park
Knitsley Lane
Consett
Co Durham
DH8 7BL
THE KING'S CHURCH DURHAM
CONTENTS
Page
Trustees' report
1 - 3
Independent examiner's report
4
Statement of financial activities
5
Balance sheet
6 - 7
Notes to the financial statements
8 - 17
THE KING'S CHURCH DURHAM
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT)
FOR THE YEAR ENDED 31 AUGUST 2024
- 1 -

The trustees who are also directors of the charity for the purposes of the companies Act 2006, present their report and financial statements for the year ended 31 August 2024.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Companies Act 2006 and "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)".

Objectives and activities

The objectives of the charity and company are:

 

- The advancement of non conformist Christian religion:

 

- The relief of poverty or hardship of people in need by the provision of funding, facilities and equipment;

 

- The advancement of Christian education by the funding and provision of training, scholarships and bursaries;

 

- Any other charitable purposes as the Trustees in their absolute discretion shall think fit.

 

Public Benefit

The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake. The trustees confirm that they have complied with the legal requirements relating to public benefit as published in the Charities Act 2011.

 

Significant Activities

 

Sunday Worship 

THE KING'S CHURCH DURHAM
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
- 2 -

 

 

Achievements and performance
Significant activities and achievements against objectives

The trustees consider the achievements of the church during the year to be:

 

THE KING'S CHURCH DURHAM
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
- 3 -
Financial review

The results for the financial period are set out in the Statement of Financial Activities.

 

Overall the charity received income totalling £461,249 (2023: £498,505) with expenditure on charitable activities (including other costs) £485,311 (2023: £475,988), resulting in a net movements in funds at 31 August 2023 of £-24,062 (2023: Surplus £22,517).

 

Total funds at 31 August 2024 are £145,946 (2023: £170,008).

Reserves policy

The trustees aim to retain between ten and twenty five weeks of running costs in the reserves.

Plans for future periods

The charity will continue to pursue the significant activities noted in this report with an aim to improve cash flow. There are no plans for any significant capital expenditure in the foreseeable future.

Structure, governance and management

The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

Trustees

The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:

Ms K M Jacklin
Dr P D Morley
Mr A B F Weir
Dr M A Bonnington
Mr A M Rose
Dr A Millard
Recruitment and appointment of trustees

The trustees consider annually the question of appropriate new trustees from within those with appropriate skill set within the church congregation.

The trustees' report was approved by the Board of Trustees.

Dr M A Bonnington
Trustee
21 May 2025
THE KING'S CHURCH DURHAM
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF THE KING'S CHURCH DURHAM
- 4 -

I report to the trustees on my examination of the financial statements of The King's Church Durham for the year ended 31 August 2024.

Responsibilities and basis of report

As the trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (the 2006 Act).

Having satisfied myself that the financial statements of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the Company’s financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act). In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

Since the Company’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of ICAEW, which is one of the listed bodies.

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

1

accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or

2

the financial statements do not accord with those records; or

3

the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or

4

the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.

Stephen Lamb, FCA

Member of The Institute of Chartered Accountants England and Wales

12 Bessemer Court
Hownsgill Industrial Park
Knitsley Lane
Consett
Co Durham
DH8 7BL
Dated: 21 May 2025
THE KING'S CHURCH DURHAM
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 AUGUST 2024
- 5 -
Unrestricted
Restricted
Total
Unrestricted
Restricted
Total
funds
funds
funds
funds
2024
2024
2024
2023
2023
2023
Notes
£
£
£
£
£
£
Income from:
Donations and legacies
2
366,024
32,574
398,598
380,752
48,056
428,808
Charitable activities
3
43,212
19,439
62,651
54,727
14,970
69,697
Total income
409,236
52,013
461,249
435,479
63,026
498,505
Expenditure on:
Charitable activities
4
457,273
26,538
483,811
405,850
68,638
474,488
Other expenditure
10
-
1,500
1,500
-
1,500
1,500
Total expenditure
457,273
28,038
485,311
405,850
70,138
475,988
Net income/(expenditure)
(48,037)
23,975
(24,062)
29,629
(7,112)
22,517
Transfers between funds
21,095
(21,095)
-
(6,032)
6,032
-
Net movement in funds
7
(26,942)
2,880
(24,062)
23,597
(1,080)
22,517
Reconciliation of funds:
Fund balances at 1 September 2023
40,211
129,797
170,008
16,614
130,877
147,491
Fund balances at 31 August 2024
13,269
132,677
145,946
40,211
129,797
170,008

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

THE KING'S CHURCH DURHAM
BALANCE SHEET
AS AT
31 AUGUST 2024
31 August 2024
- 6 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
12
152,114
150,094
Current assets
Debtors
13
6,400
5,794
Cash at bank and in hand
18,994
50,576
25,394
56,370
Creditors: amounts falling due within one year
15
(12,666)
(10,981)
Net current assets
12,728
45,389
Total assets less current liabilities
164,842
195,483
Creditors: amounts falling due after more than one year
16
(18,896)
(25,475)
Net assets excluding pension liability
145,946
170,008
Net assets
145,946
170,008
The funds of the charity
Restricted income funds
18
132,677
129,797
Unrestricted funds
13,269
40,211
145,946
170,008

The charitable company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 August 2024.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

THE KING'S CHURCH DURHAM
BALANCE SHEET (CONTINUED)
AS AT
31 AUGUST 2024
31 August 2024
- 7 -
The financial statements were approved by the trustees on 21 May 2025
Dr M A Bonnington
Trustee
Company registration number 05034302 (England and Wales)
THE KING'S CHURCH DURHAM
NOTES TO THE  FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
- 8 -
1
Accounting policies
Charity information

The King's Church Durham is a private company limited by guarantee incorporated in England and Wales. The registered office is 30 Fieldhouse Lane, Durham, Co. Durham, DH1 4LT, England.

1.1
Accounting convention

The financial statements have been prepared in accordance with the charity's the Companies Act 2006 and "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 charity is a Public Benefit Entity as defined by FRS 102.

 

The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention modified to include the revaluation of freehold properties. The principal accounting policies adopted are set out below.

1.2
Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.
1.4
Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

THE KING'S CHURCH DURHAM
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
1
Accounting policies
(Continued)
- 9 -
1.5
Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, 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 accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

 

1.6
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold property
2% on cost
Improvements to Property
5% on cost
Fixtures and fittings
33% on cost
Computers
33% on cost
Motor vehicles
25% on reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

1.7
Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.8
Financial instruments

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are measured at transaction price including transaction costs.

THE KING'S CHURCH DURHAM
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
1
Accounting policies
(Continued)
- 10 -
Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are recognised at transaction price.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

1.9
Taxation

The charity is exempt from corporation tax on its charitable activities.

1.10
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2
Income from donations and legacies
Unrestricted
Restricted
Total
Unrestricted
Restricted
Total
funds
funds
funds
funds
2024
2024
2024
2023
2023
2023
£
£
£
£
£
£
Donations and gifts
360,631
32,574
393,205
374,952
48,056
423,008

Other general grants

5,393
-
5,393
5,800
-
5,800
366,024
32,574
398,598
380,752
48,056
428,808
3
Income from charitable activities
Unrestricted
Restricted
Total
Unrestricted
Restricted
Total
funds
funds
funds
funds
2024
2024
2024
2023
2023
2023
£
£
£
£
£
£
Religious Activities

Religious Activities

32,325
9,494
41,819
52,560
6,025
58,585
Charitable rental income
-
9,945
9,945
-
8,945
8,945
Other income
10,887
-
10,887
2,167
-
2,167
43,212
19,439
62,651
54,727
14,970
69,697
THE KING'S CHURCH DURHAM
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
- 11 -
4
Expenditure on charitable activities
Religious Activities
Religious Activities
2024
2023
£
£
Direct costs
Staff costs
293,961
260,956
Depreciation and impairment
13,259
9,843

Religious Activities

1,357
1,434

Insurance

3,798
2,827

Light and heat

4,222
3,916

Postage and stationary

197
201

Book/resources

918
1,074

Cafe and catering

20,137
18,846

Clothing

-
723

Conference fees

1,859
1,436

Consumables

27
92

Cleaning

107
338

CRB costs

13
13

Garden

-
21

Gifts and hospitality

4,121
2,416

Internet

1,169
1,254

Lease premises

10,715
11,573
Other charitable expenditure
88,440
114,257
444,300
431,220
Grant funding of activities (see note 5)
38,311
41,828
Share of support and governance costs (see note 6)
Governance
1,200
1,440
483,811
474,488
Analysis by fund
Unrestricted funds
457,273
405,850
Restricted funds
26,538
68,638
483,811
474,488
THE KING'S CHURCH DURHAM
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
- 12 -
5
Grants payable
Religious Activities
Religious Activities
2024
2023
£
£
Grants to institutions:
Other
9,248
-
Grants to individuals
29,063
41,828
-
7
Net movement in funds
2024
2023
£
£
The net movement in funds is stated after charging/(crediting):
Fees payable for the independent examination of the charity's financial statements
1,200
1,440
Depreciation of owned tangible fixed assets
13,259
9,843
8
Trustees

M A Bonnington received remuneration of £18,967 (2023: £15,680) and K Jacklin received remuneration of £31,616 for the year ended 31 August 2024 . These payments relate to their roles as the senior leaders which involves pastoral meetings, training and preparing for preaching and leading Sunday services.

 

9
Employees

The average monthly number of employees during the year was:

2024
2023
Number
Number
17
16
9
Employees
(Continued)
- 13 -
Employment costs
2024
2023
£
£
Wages and salaries
236,861
226,011
Social security costs
34,138
19,929
Other pension costs
22,962
15,016
293,961
260,956

No employee received employee benefits of more than £60,000 during the year (2023: Nil).

There were no employees whose annual remuneration was more than £60,000.
10
Other expenditure
Restricted
Restricted
funds
funds
2024
2023
£
£
Financing costs
1,500
1,500
11
Taxation

The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.

- 14 -
12
Tangible fixed assets
Freehold property
Improvements to Property
Fixtures and fittings
Computers
Motor vehicles
Total
£
£
£
£
£
£
Cost
At 1 September 2023
133,313
44,554
71,095
2,988
24,309
276,259
Additions
-
-
15,279
-
-
15,279
At 31 August 2024
133,313
44,554
86,374
2,988
24,309
291,538
Depreciation and impairment
At 1 September 2023
26,615
9,799
63,680
2,988
23,083
126,165
Depreciation charged in the year
2,666
1,965
8,321
-
307
13,259
At 31 August 2024
29,281
11,764
72,001
2,988
23,390
139,424
Carrying amount
At 31 August 2024
104,032
32,790
14,373
-
919
152,114
At 31 August 2023
106,698
34,755
7,415
-
1,226
150,094
13
Debtors
2024
2023
Amounts falling due within one year:
£
£
Other debtors
4,499
4,140
Prepayments and accrued income
1,901
1,654
6,400
5,794
14
Loans and overdrafts
2024
2023
£
£
Bank loans
25,015
31,594
Payable within one year
6,119
6,119
Payable after one year
18,896
25,475

The long-term loans are secured by fixed charges held by Stewardship Services (Uket) Limited, over 49 Habgood Drive Durham, the amount secured is £48,649.

- 15 -
15
Creditors: amounts falling due within one year
2024
2023
Notes
£
£
Bank loans
14
6,119
6,119
Other taxation and social security
5,347
3,422
Accruals and deferred income
1,200
1,440
12,666
10,981
16
Creditors: amounts falling due after more than one year
2024
2023
Notes
£
£
Bank loans
14
18,896
25,475
17
Retirement benefit schemes
2024
2023
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
22,962
15,016

The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund.

18
Restricted funds

The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.

At 1 September 2023
Incoming resources
Resources expended
Transfers
At 31 August 2024
£
£
£
£
£
ACHOR
129,797
43,289
(19,314)
(21,095)
132,677
Restricted Gifts
-
8,724
(8,724)
-
-
129,797
52,013
(28,038)
(21,095)
132,677
18
Restricted funds
(Continued)
- 16 -
Previous year:
At 1 September 2022
Incoming resources
Resources expended
Transfers
At 31 August 2023
£
£
£
£
£
ACHOR
130,877
14,970
(16,050)
-
129,797
Restricted Gifts
-
48,056
(54,088)
6,032
-
130,877
63,026
(70,138)
6,032
129,797

ACHOR project - arises from the income generated from the events held within the property owned by the charity.

 

Restricted gifts are donations made by church members who specify to the charity what the donation should be used for.

19
Unrestricted funds

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

At 1 September 2023
Incoming resources
Resources expended
Transfers
At 31 August 2024
£
£
£
£
£
General funds
40,211
409,236
(457,273)
21,095
13,269
Previous year:
At 1 September 2022
Incoming resources
Resources expended
Transfers
At 31 August 2023
£
£
£
£
£
General funds
16,614
435,479
(405,850)
(6,032)
40,211
- 17 -
20
Analysis of net assets between funds
Unrestricted
Restricted
Total
funds
funds
2024
2024
2024
£
£
£
At 31 August 2024:
Tangible assets
35,350
116,764
152,114
Current assets/(liabilities)
(22,081)
34,809
12,728
Long term liabilities
-
(18,896)
(18,896)
13,269
132,677
145,946
Per balance sheet
13,269
132,677
145,946
Balance to allocate
-
-
-
Unrestricted
Restricted
Total
funds
funds
2023
2023
2023
£
£
£
At 31 August 2023:
Tangible assets
34,104
115,990
150,094
Current assets/(liabilities)
6,107
39,282
45,389
Long term liabilities
-
(25,475)
(25,475)
40,211
129,797
170,008
21
Related party transactions

There were no disclosable related party transactions during the year (2023 - none).

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