LEGACY CHURCH WALSALL A REGISTERED CHARITY NUMBER 1052776 ADDRESS . Corporation Street, Walsall, West Midlands, WSI 3QR. INDEX TO ACCOUNTS FOR THE YEAR ENDED 31ST DECEMBER 2024 Page Description Independent Examiner's Report Balance Sheet Statement of Financial Activities Notes to the Accounts 5t09
INDEPENDENT EXAMtNER'S REPORT TO THE TRUSTEES OF LEGACY CHURCH WALSALL A register charity number '. 1052776 FOR THE YEAR ENDED 31ST DECEMBER 2024 The report relates to financial statements set out from page 2 to 9. Respeetive responsibilities of trustees and examiner The trustees are responsible for the preparation of the accounts. The charitty's trustees consider that an audit is not requiied for this year under section 144 of the Charities Act 2011 Ithe CharitiesAct I and that an independent examination is needed. It is my responsibility to.. Examine the accounts under section 145 of the Charities Act - To follow the procedures laid down in the general Di rections given by the Chairity Commission (under section 1451Sllblof the Charities Act, and - To state whether particular matters have come to myattention. Basis of independent eiaminer's report My examination carried out in aordallCe with the General Directions given by the Charity Commissioners. An examination includes a review of the accounting records kept by the charity and a cornparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trusfres concerning any such marters. The procedures undertaken do not provide all the evid¢nce that would be required in an audit, and consequently no opinion is g]ven as to whether the accounts present a 'true and fai r, vlew and the report is limited to those matters set out in the statement below. Independent examiner's statement In connection with my examination, no matter has come to my attention to indicate that: 111 Accounts have not been kept in accordance with section 386 ofthe CompaniesAct 2006. 121 The accounts do not accord with such records. 131 Where accounts are prepared on an accruals basis, whether theyfail to comply with relevant accounti ng requirements under section 396 of the Companies Act 2006,or are not consistent with the Charities SORP IFRS 1021 141 Any matter which the examiner believes should be drawn to the attention of the reader to gain a proper understanding olthe accounts. Susan Lewis FCCA 6 Park Road Newbridge Ncwport. NP I14RF Date.. 24th September 2025 Page I
LEGACY CHURCH WALSALL BALANCE SHEET AS AT 31ST DECEMBER 2024 Notes Unrestricted Restricted Funds Funds 2024 2024 Total Funds 2024 Total Funds 2023 FIXED ASSETS 102,479 102,479 102,479 102,479 102,479 102,479 CURRENT ASSETS PTepayments Cash at Bank Cash in Hand 64,363 9,623 73,986 67,293 124 64,363 9,623 73,986 67,417 CURRENT LIABILITIES - Amounts falling due within one year E2 1,360 1,360 1,385 1,360 63,003 1,360 72,626 1,385 66,032 NET CURRENT ASSETSILIABILITIES 9,623 TOTAL ASSETS LESS CURRENT LIABILITIES 165,482 9,623 175,105 168,511 LONG TERM LIABILITIES Amounts falling due after more than on¢ year NET ASSETS £165,482 £9,623 £175,105 £168,511 FUNDS Accurnulated Fund Designated Fund Other Funds 165.482 165,482 159,401 9,623 9,623 9,110 TOTAL FUNDS £165,482 £9,623 £175,105 £168,511 Approv by the Board of Trustees on (date) 23 and signed on its bchalf by :_ Chairn]an( l) Trustee (2) Page 2
LEGACY CHURCH WALSALL STATEMENT OF FIIYANCIAL ACTIVITIES FOR THE YEAR ENDED 31STDECEMBER 2024 Notes Unrestricted Restricted Funds Funds 2024 2024 Total Funds 2024 Total Funds 2023 Incoming Resources Income General Investment Income Other Income 101,367 360 175 101,727 175 98,834 117 Total Incoming Resources 101,367 535 101,902 98,951 Costs of Generating Funds Operating Costs Resources Expended Direct Charitable Expenditure Ministy Fellowship Gifts Propety 61,108 3,590 3,230 23,682 91,609 61,108 3,590 3,230 23,682 91,609 53,193 1,422 7,374 18,957 80.946 10 Management And Administration Administration 3,678 22 3,700 3,286 3,678 22 3,700 3.286 Other Expenditure Other Resources Expended 95,286 22 95,308 84,232 Net Incoming resources before transfers Trdnsfets utilissjlReled 6,081 513 6,594 14,719 Net Movement in Funds for yr Fund Batances brought fonvard 6,081 159,401 513 9,110 6,594 168.511 14.719 153,792 Fund Balances carried forivard £165,482 £9.623 £175,105 £168,511 Page 3
LEGACY CHURCH WALSALL NOTES TO THE ACCOUNTS R THE YEAR ENDED 3 1ST DECEMBER 2024 ACCOUNTtNG POLICIES The following accounting policies have been used consistently in dealingwith items which are considered material in relation to the financial statements. Accountin Convention The financial statements have been prepared under the historical cost convention other than certai n freehold propertywhich is Included at valuation. In preparingthe financial statements the charityfollows best practice as laid down in the Statement of Recommended Practice Accounting and Reporti ng by Charities (revised 2005} and the Charities Act 1993. Incomin Resources Voluntary income is received by way of donations and gifts and is included in incoming resources when these are receivable. Interest receivatr)le is included when it is received. Resources Ex ended Resources expended are included i n the Statement of Fi nancial Activities on an accruals basis, inclusive of anyvalue AddedTax which cannot be recovered. reciation Freehold Land and Buildin Depreciation is only provided on freehold land and buildings where the Trustees consider that the remaining use1 life is less than 50 years. The rate of dq)reciatton is 2 /0 on a straight line basis. ui ment Furniture ftUreS and flttin s and Motor Vehicles Depreciation has been charged at 20% per annum on a straight line basis. Taxation As a regstered charity the Church benefits from rates relief and is generally exempt from Income Tax and Capital Gains Tax but not fromvalue Added Tax. Irrecoverable Value Added Tax is included in the cost of those items to which it relates. Income tax recovered on deeds ofcovenants and Gift Aid donations are credited tothe general unrestricted funds. Fund Acc untin l. Unrestricted tunds comprise those fundswhichthe Trustees are free to use in accordance with the charitable objects. 2. Designated funds are unrestricted funds earmarked by the trustees for particular purposes. 3. Restricted funds are funds which have been gtven for particular purposes. The restriction being placed bythe donor. Page 4
LEGACY CHURCH WALSALL IYOTE I . TANGIBLE FIXED ASSETS AS AT 31ST DECEER 2024 DEPRECIATION METHOD - 'STRAIGHT LtNE'. DEPRECIATION ANNUAL RATES:_ 200/0 OffiCE LAND & BUILDING CHATfELS INSTRh MOTOR FITTING COST Opening balance Disposals Additions 152,852 14,998 6,798 3,313 1.445 179,406 CLOSING BALANCE 152,852 14,998 6,798 3,313 1,445 179,406 DEPRECIATION Opening balance Disposals Charge for year 51,968 14,290 7.172 2,052 1,445 76.927 CLOSIN BALANCE 51,968 14.290 7,172 2,052 1.445 76,927 NET BOOK VALUE At beginning of year £100.884 £1,945 -£374 £1.261 £0 £102,479 At end of year £100,884 £708 -£374 £1,261 £0 £102,479 Page 5
LEGACY CHURCH WALSALL NOTE 3 CAPITAL FUNDS OPEf+UNG BALANCE INFLOW OUTFLOW CLOSING BALANCE Restricted Restricted Funds Transfer To Accumulated 8.078 1,032 9,110 535 22 8.591 535 22 8,591 Designated Unrestricted Accumulated Fund Transfer From Restricted 160,433 -1,032 159.401 101,367 95,286 166,514 101,367 95,286 166,514 TOTAL £168,511 £101,902 £95.308 £175,105 NOTE 4 INCOLWIE GENERAL Unrestricted Restricted TOTAL 2024 TOTAL 2023 2024 2024 Offerings, Collections, Donation5 Covenants l Gift Aid Gifts Missionary Room hire Bullding Fund Other T&x RefidS Response Funding Other Income Childrens Camp Tuckshop Soul R Pathfinders 9426 56558 9,426 56,558 8,317 63,489 8995 8,995 369 340 1,325 21,864 475 24,463 475 24,463 1.450 1,450 3,130 TOTAL £101.367 £0 £101,367 £98,834 Page 6
LEGACY CHURCH WALSALL NOTE 5 INVE TMENTINCOME Investtnent income was derived from surplus funds being placed on short term deposit with the bank. NOTE 6 OTHER INCOME NOTE 7 EXPENDITURE MINISTRY Unrestricted Restricted 2024 TOTAL 2024 TOTAL 2023 2024 Preaching and Teaching Visiting ministy Teaching Resources Ministry Resources Magazines Outreach Oth¢r TOTAL 59,408 225 59,408 225 51,863 875 1,291 1,291 455 184 £61,108 184 £61,108 £0 £53.193 NOTE 8 EXPENDITURE FELLOWSHIP Unrestrlcted Restricted 2024 TOTAL 2024 TOTAL 2023 2024 Transport Cafrrtng Functions FIowTs/Chocs Youth Activities Other reciation TOTAL 120 581 392 130 200 522 55 60 2,952 522 55 60 2,952 £3.590 £0 £3,590 £1,423 Page 7
LEGACY CHURCH WALSALL NOTE 9 EXPENDITURE GIFrs Unrestricted Restricted 2024 TOTAL 2024 TOTAL 2023 2024 Overseas UK.Missions Needy AOG Cont Church Personnel TOTAL 3,493 1,850 200 300 300 2.930 £3.230 2,930 £3,230 1,831 £7,374 £0 NOTE 10 EXPENDITURE PROPERTY Unrestricted Restricted 2024 TOTAL 2024 TOTAL 2023 2024 Repairs Cleaning Electricity Gas Ins./Water sty Alami reciation 7.943 4.595 2,783 4.330 2,289 513 1,228 7,943 4,595 2,783 4,330 2,289 513 1.228 1,617 3,845 3,486 6,478 2.752 464 315 £18,957 TOTAL £23.682 £0 £23.682 NOTE 11 EXPENDITURE ADMtNISTRA TION Unrestritted Re$tri¢ted TOTAL 2024 TOTAL 2023 2024 2024 Postagelstat Websit&lnternet Sub51Licences CCPAS Prof.Fees Bank Charges 199 307 1,407 168 839 175 581 £3,678 199 307 1,407 168 839 175 581 £3,678 478 299 1,316 208 839 146 £3,286 TOTAL £0 Page 8
LEGACY CHURCH WALSALL NOTE 12 u$tr1tted Restri¢ttd 2024 TOTAL 2024 TOTAL 2023 2024 Accruals PAYE Uabillty 695 665 695 665 600 540 TOTAL £1,360 £0 £1.360 £1,140 TE13TR TEE REM NE ND KET EXPEN 2024 2023 TnJste¢s R¢mun¢ration Trus¢es mentoring and pastoral work. 53,504 45,574 Trustees Out of Pocket Expenses TSteeS travel and m¢¢ting att¢ndance. 5.904 6,289 Page 9