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)".
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
51 Sunday morning Church Services all of which were livestreamed. At all services God was worshipped and the Bible was read and taught from.
30 evening Sunday services. From New Year 2024 we started our Evening Services in a new venue due to pressure of space in the previous venue
Our times of Family Worship and a newly established Youth Gathering for teenagers took place monthly during our Sunday morning Church Services.
Running a lunchtime group for the discussion of theology ;
Running a group for parents and preschool children;
Running community fun days in the local area;
Running assemblies and lunchtime groups in local schools;
Meetings for children in years 1 to 9 during the Sunday morning service;
Meetings for young people in years 10 to 13 outside of the Sunday morning service;
Meetings for university students outside of the Sunday morning service;
Publicising the message of the Gospel through open air meetings;
Relieving poverty through donation of funds to Christian organisations working with people in need;
Running a lunch club and youth group jointly with a local community centre;
Running a befriending scheme for elderly and isolated people in the Sherburn Road area of Durham.
Supporting a missional community on a local council estate, including hosting Church Services on the estate for members of the community.
Including Small group meetings for Bible study, discussion and prayer and Medium size meetings for corporate prayer and worship.
There was no formal internship programme in 2023-24 but the Ministry Trainee Programme of theological teaching, mission and practical service to the church and the community continued.
Continuing financial and practical support to enable a family from within the congregation to work in a church in France
Continuing financial support towards someone who works with Youth With A Mission.
The trustees consider the achievements of the church during the year to be:
The continued growth and ethnic and social diversification of the number of Durham residents attending Sunday meetings at King's Church Durham.
We used ChurchSuite to administer church life, in January 2024 there were 483 adults and 111 under 18s on our ChurchSuite register.
The continued flourishing and growth of three student midweek cluster groups, medium sized meetings for students which allow a greater degree of participation than a term-time Sunday meeting. - Community projects including providing fun sporting events for young people, social events for older people and gardening for people unable to do their own.
The continued work of the Achor Community in which a network of committed volunteers from the congregation and/or volunteers expanding to the whole of the community in the Sherburn Road area of Durham, establishing intentional Christian community, serving the people of the Sherburn Road area and modelling missional Christian community;
The seventeenth year we have run a week of community and missional events and activities throughout the city of Durham involving over 150 people from within the church over the week.
The support of a free church chaplain working at mental health trust in the region from the associate staff team
The continued cooperation with St John's Parish Church, Neville's Cross, in the joint LOL youth ministry which mainly consists of midweek activities for young people in Durham ;
Four trainees studying for MA qualifications as part of their work and training within the church; - The baptism of twelve members of the church congregation in public church meetings on confession of their Christian faith through the course of the year;
The continued support and oversight of various activities and groups outside our Sunday services, both local to Durham and on overseas mission trips partnering with other churches and organisations. These activities encourage exploration of Christian faith particularly among those who, for a variety of reasons including social exclusion and poverty, would be less likely to come to Sunday services.
Sending a team twice a month on Sundays to support the re-planting of another Ichthus Link church in Seaham.
A member of our leadership team joined the Seaham church’s elders team
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).
The trustees aim to retain between ten and twenty five weeks of running costs in the reserves.
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.
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:
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.
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.
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.
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:
accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or
the financial statements do not accord with those records; or
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
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.
Member of The Institute of Chartered Accountants England and Wales
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 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.
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.
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.
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.
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.
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.
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:
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.
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.
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, which include debtors and cash and bank balances, are measured at transaction price including transaction costs.
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.
Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.
The charity is exempt from corporation tax on its charitable activities.
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
Other general grants
Religious Activities
Religious Activities
Insurance
Light and heat
Postage and stationary
Book/resources
Cafe and catering
Clothing
Conference fees
Consumables
Cleaning
CRB costs
Garden
Gifts and hospitality
Internet
Lease premises
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.
The average monthly number of employees during the year was:
No employee received employee benefits of more than £60,000 during the year (2023: Nil).
The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.
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.
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.
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.
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.
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.
There were no disclosable related party transactions during the year (2023 - none).