Charity registrdtlon number 1132283 Company registration numb•r 06962947 IEngl•nd and Wales) THE CHURCH AT JUNCTION 10 ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
THE CHURCH AT JUNCTION 10 LEGALAND ADMINISTRATIVE INFORMATION TN$ts•$ Mr K Davis MrJOClar MrAAkani Mr P Mile5 Mr P Begg Mrs H Chiurlrl (Appointed 23 January 2023) Chaty number 1132283 Company number 06962947 Registered office ejo Anothrome Ltd Reservoir Place Walsall West Midlands United Kingdom WS2 9R2 Independent examiner Burgis 8 Bullock 23-25 Watedoo Place Learnington Spa Warwi¢kshire CV32 SLA
THE CHURCH AT JUNCTION 10 CONTENTS Pag• Trustees report Independent examiner's report Statement of finan81 a¢tivitie5 Balance sheet Notes lo the accounls 9-20
THE CHURCH AT JUNCTION 10 TRUSTEES REPORT (INCLUDING DIRECTORS, REPORTI FOR THE YEAR ENDED 31 DECEMBER 2023 The Trustees, who are also the Directors of Ihe charitable company, present their pOrt and accounts lor the year ended 31 December 2023. The financial stalernenls have been prepared in accordance wtih the accounting poli¢les sel out in note 1 to the financial slalement5 and comply with the Church's memorandum and 8rtioles of association, the Companies Aci 2006 and 'Accounting and Reporting by Charities." Staltrmenl of Recommended Practice applicable to charrties preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 {eff8etive 1 January 20191" Objectives and activitwes Thè Church's tsbjects are the advancement of Christian Religion by the woclamalion and furtherance of the Gospel according to God concerning His Son Jesus Christ the Lord. During 2023 the Church continued in its main activities of Chiistian evangelism. worship and leaching. through a model of congregational and small group meetings. The Chur¢h meets in a local secondary school and has aimed to be more involved in the life of the local communities in which it is based and where a local resource centre is to be buitt in collaboration wrth Wals811 Counol. The activitiès arè e•red on the churth building, through traditional and online groups, supported by a strengthening House Group structure. Further actimties for special Interest groups continued to be well supported. su¢h as Youth Club and children's discipleship. This includes succe55fulfy linking with national and local leadership developrnent organisalions to help develop young leadèrs. The Church relied on offerings from the donors idantified in the financial 51alements, whose support is valugd. There have been lirnited other fundraising activrties. Through our tithe, our annual support foi local, n81ional and international missions continua. Public b•nefit The Trustees have paid due regard lo guidarKe issued by the Charity Commission on Public benefil in deciding what aclivilies the Church Should undertake. Public beneffit is delivèred through the activities undertaken by the Church as clescribed above.
THE CHURCH AT JUNCTION 10 TRUSTEES REPORT (CONTINUEDI{INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 31 DECEMBER 2023 Achievements and perforn)ance The Board of Trustees (Church Council) are satisfi8d with the financial performance of the Churth durrng the year. In addition to progressing our plans foi a new Church and resource cenlre, during 2023 the ongoing objectives of the Church were to.. The missional eommLJnities programme is strll active and serve5 the local communities of Walsall, bringing Supporting activitses and ¢oie value5, to help those ol the church. We continue to work clos6ly with local $¢hools and other agencies wthin our communty where possible. Beyond and including traditional services and festivals, these a¢ts'vilies were nITed on prayer, sludy, fellowship and collective worship in our growing joumey groups. The Church has sought to empower mèmbers Ihr¢)ugh a variety of resources and actiwties that model Apostolic, Prophètic. Evangelistic, Teaching and Pastor81 ministries. Our full lime Youth and Chiklren's Pastor continues to develop and stren9thèn the foeAJ$ of the Churches adivrties around the young people associated with our Church famly, Our support of the Love Walsall and wider Love Black Country ifiiti*ive have seen the Church partner with other Christian charities to provide a Ltnited. effJ¢ienl approach lo mission and social action. This has incjuded a Christmas Fayre ran wilh the local sècondary school which attracted over 1000 visrtors for an affordable Christmas expèriènce. The Trustees are satisfied with the progress made during the year in furthering the objectiV85 of the Church. Thi5 continued in community engagernent activity and the regular gathering of the Sunday ¢ongregalion confimis the need lo build a new building that will meet all the various demands from th9 congregation and community works. Building Project In line with the Church's vision to re-establish itself in a new facility on the land of 323 Wolverhampton Road, we conb'nued lo engage with organisations who support these objective5 to add lo the nurnber of "in prinapal" agreements that have already been established with likeminded organisations with whom the new building can be co-utilised lo support thè needs of the surrounding community and objectives of the organisation. In addition, we have partnered with a bid wiiting expert lo try and idenlfy and attract granl based funding foi the new la¢ility. Though no physical ftjrther works were undertaken during 2023 lexcepl for maintenance tasks such a5 tree pruning and weed cjearancel we have continued in a time of ants'apation as the church Sets itself up lo raise the necessary finances to see the building project progresses and ¢ompleted. Ouring 2021 the Local Authority approached the thur¢h lo explore the possibility of using the vacant site as a temporary Iravellers site over a 2 year period. The council were to supply all the infrastructure including a temporary building to act as a cornmunity hub. The Counril subsequently deaded to locate the tiavèlle15 sile èlsèwh8rè in Wdls811. with no spa¢e for the ¢ornrTTrunity hub, but had at that time procured the production of the temporary community hub. The council ha5 now offered lo the church rts hub building on a temporary basi5 for use oll our s((e. This 15 for the church's use and its interaction with the local community, while the funds and partners are conduded for the main building to be realised. To progrèss this opportunity the subrnitted planning permission has been granted for the lemporary building and subjed lo pre(ommencement conditions being extinguished we have engaged with suppliers and stalulory undertakers lo install the temporary building by Oclobor 2024. The Current adminbstralive offlces afe being vacated in June 2024. due to landlord future developments. wlh staff remote working until the temporary building is available in October 2024.
THE CHURCH AT JUNCTION 10 TRUSTEES REPORT {CONTINUED}{INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 DECEMBER 2023 Futur• plans There were no significant change5 in actimlies in the year. There were changes in the organisatsonal stru¢tuie {see section 'The organisalional struclure and how decisions are made") bui they have not altered the Church's activrties or plans for the future. It is still the intention to construct a nèw church building in the future., lo this end construction professionals from within the congregalK)n are developing plans Its engage extemal organisalions lo plan, cost and fund its dèvelopmènt. ContrlbuVon$ Irom volunteer8 The Church is dependent on the kind support of ils members in terms of giving time, money and prayer. Flnanclal revlow The accounts on pages 6 10 20 show the financial results for the year. The statement of financial actNities show total incoming reswrees for the year were £219,572 and resources expended were £181,823. At 31 December 2023 the Church has ae¢umulaled funds of £904,824 of which £36,669 relales to designated funds and £762,065 r&18tes lo reslrided funds. The Trustees consider that the liquid unrestricted reserves required by the Church should ideally be equivalent lo a rninimum of 3 months operating costs to cover the costs of winding up that would be incurred in the case of the Church cEasin9 to operate. These funds are shown as a designated fund and are held in a separate bank account. The Trustees have also resolved to establish additial reserves lo prowde for )Jre actiwtEs to reduce tfr following risks as sel out below. The Trustees identify the major risks to which the Church is exposed èach financial year. in partilar those relating to the operations and finances of the Church. Th& Tiusteès review any major risks which are identified, and establish systems to mitigate those risks. The Church is $81isfied that systems are in place to mitigate the exposure to the major risks which had been so idèntified and reviewed.. Flnanclal rf$k$ The Church is open to thè usual finanual risks of any organisalion and introduced controls to minimise these risks, such as tr40 signatures being required for payments from Ihe bank account. In addition the financial statements are regularly explained lo members of the Church and are open for members inspeation al any lime. Investment In line with the Church's talent prograrnme. the Church has also invested some monie5 frorn the surplus in Iknowa Limited, a low risk investment retum mechanism, which Safeguards the inib.al inveslment and guaranlees a return. The Trustees rewewed the opportunty and agrèed lo proceed with the investment in 2020 and is being reviewed annually. The Trustèès agreèd lo conts'nuts wlh the investment during 2023. Other rfsk$ Work with children and vulnerable adults are open to risks. An Adult and Child Safeguaiding Policy covering work with the children and vulnerable adults is in operation and rewewed annualty. Police checks are requested lor anybody working with childrentyouth or vulnerable adults. Counselling and any Iransportalion of children and youth are done in pairs.
THE CHURCH AT JUNCTION 10 TRUSTEES REPORT (CONTINUED)IINCLUDING DIRECTORS, REPORD FOR THE YEAR ENDED 31 DECEMBER 2023 Stnjcturn. gov•manc• and management The Church is a charitable company Ilmf(ed by guarantee. The Church's registered cornpany number is 06962947. The Church is also a registered charity, number 1132283. The ragislared office is cloAnothrome Ltd, Reservoir Place, Walsall. Wesl Midlands. WS2 9RZ. The Church Is governed by a trust deed and ils artides of association. Vve have had 1 Trustee step down and 1 Tru51ee appointed briThJing expèrtise fr corporate business. Th8 Chair of Trustees will stand down by the end of June 2024. The Trustees appointed 3 leaders lo retain oversight of all chuT¢h matters, each tasked with maintainin9, deVelO.n9 and leading aspects of the running of the ChuTch in line with their gffting and strengths. The 3 leadèrs are all Trustees and are referred to as Elders wrthin the Church context. All 3 are answerable lo the Church Council. The Church Council meet regularly to discu55 and plan objectives and impl&mentstion thereof. General matters induding matters of general ¢oncem are reported to all Members annually. l rnatters are subjèct to prayer and Gods direction. Relatlonshlps with other groups, charities and Individuols The Church WOTks dosely with other smaller churches by assi51ing them with resourees and volunteers. The aim is that they will grow and beo)me indepèndènt. L•gal Status The Church is an incorporated charity govemed by a written constitution adopted by its members. There are no restrictions in the governing documènt on the operation of the Charity or on ils inve51rnent powers, other than those imposed by general Charty Law. The Trustees, who are also the directois for the purpose of company law, and who served during the year and up lo the date of signature ol the financial statements were.. Mr K Davi8 Mrs M Banks Mr J D Clark Mr AAkani Mr P Miles Mr P Begg MTS H Chiuriri {Resignod 31 July 2023) (Appointed 23 January 20231 Appolntment of Tru$tees New Trustees are recruited a5 deerned necessary. Trustees are inwted to attend Trustee and management meetings before being fomially appointed at a Trustéès rneeling. Ntsne of the TTuslees has any bonef131 inlgresl In the charity and company. All of the Trustees are members of the company and guarantee to contribute £1 in the event of a winding up. Tralning and induction of Trustees Training and indudion of new Trustees is undertaken on infomial and ongoing basis wa discussions with existing Trustees, attendance of board meetings etc. Thè TiustÈe$ report was approved by the Board of Trustees. Dated.. 03 Sep.2024 r r MJJvs
THE CHURCH AT JUNCTION 10 INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE CHURCH AT JUNCTION 10 I report lo the Trustees on my examination of the financlal statements of The Church al Jun¢lton 10 (the Church) foT the yeai ended 31 Decernber 2023. Rosponslbllltlos and basls of r•port A5 the charity Iruslees of the company land also its diredors for the purposes of cornpany law} you are responsible for the preparation of the accounts in accordarKe wlh the requirements of the Companios Act 20061"the 2006 Act.). Hawng satisfied myself that the 8ccoun15 01 the company are not required to be audit8d undèr Part 16 of the 2006 Act and ale eligible for independent exarninalion, I report in respect of my examinalK)n of your ¢ornpany's accounts as carried out under section 145 of Ihe Charities Act 2Q11 I'lhe 2011 Act l. In carrying out my examination I have followed the direction given by the Charity Commission under section 14515llbl of the 2011 Act. Ind•p8nd•nt •xamln•e$ $tatement I have completed my examination. I confirni that no matters have come to my attention in connection with the examination giving me cause to believe that in any materfal iespe¢l'. aCuntIng rgcords We not kept In 4)eCt of the company as required by seclion 386 of the 2006 Act.. or thè 8e¢ounls do not acrd wlh Ih05e records., or the accovnls do not comply with the accounting requirements of sèction 396 ot the 20[ Act other than any requirement that the accounts five a true and lair wew which is not a matter consiYeTed as part ol an independent examination., or the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice foi accounting and reporting by charities {applicabl8 to charities prepared their accounts in accordance wth the Finanaal Reporting Standard applicable in ihe UK and Republic of Ireland IFRS 10211. I have no concèrns and have ¢ome across no other matters in connection with the examination lo whlch attention should b8 drawn in thi5 report in order to enable a proper understanding of thè a¢¢ounts lo be reachgd. oq WA Hubbard FCCA Burgis & Bullock 2&25 Waterloo Place Leaminglon Spa Warwickshire CV32 SLA Dated.. .
THE CHURCH AT JUNCTION 10 STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2023 Unrnstrfctsd R¢$trfcted funds fund8 2023 2023 Total Unrestricted R•strl¢ted funds funds 2022 2022 Total 2023 2022 Notes Income from: Donations and legacies Investmènts 162.708 2,132 51.032 3.700 213,740 5,832 148.399 20.94S 57,498 536 205.897 21,481 Total incomo 164,840 54.732 219.572 169,344 58.034 227,378 Expendltum on: Charitable actiwties 173,936 7,887 181,823 171,511 25,807 197,318 Total èxpenditure 173,936 7,887 161,823 171,511 25,807 197,318 Net incom•lloxp•ndllurnl 19,096) 46.845 37,749 12,1671 32,227 30,060 Transfers behY8en fvnds 1300,3081 300.308 Other rocogni¥ed gain¥ and losses.. Ravalualion of tangible fiKe<l assets 100,000 1(X).000 Net movemgnt In funds 19,0961 46,845 37,749 1302,4751 432,535 130,CfO Reconciliatian of funds.. Fund balances at 1 January 2023 151,855 715,220 867.075 454,330 282,685 737,015 Fvnd balances at 31 De¢ember 2023 142,759 762.C65 904,824 151,855 715.220 867,075 The statement of financial adiwlies in¢ludes all gains and1055es rec4)gnised in Ihe year. AJI income and expendrture derive frorn continuing actimlies.
THE CHURCH AT JUNCTION 10 BALANCE SHEET AS AT31 DECEMBER 2023 2023 2022 Notes Flx•d &ets Tangiblè assets Investments 504.147 11.527 508,657 15,500 51S.674 524,157 Current assets Debtor5 Cash al bank and in hand 10 7.876 386,664 26,154 328,541 394,S40 354,69S Credltors: amounts falllng due wbthln one year 11 (s,3) {11.7771 Net current assets 389.150 342,918 Total a$8ets less current Ilablllttes 904,824 867,075 Income funds Genaral $trIcted funds Revaluation resèrv 414,350 347,715 367,505 347,715 13 782.065 715.220 Unrestricted fun De51gnated funds General unrestricted fvnds 14 38.869 106,090 38,669 115,186 142,759 151,855 904.824 867,075
THE CHURCH AT JUNCTION 10 BALANCE SHEET (CONTINUED ASAT31 DECEMBER 2023 Tha ¢ompany Is enlilled lo the exemption frorn the audit requirèment contained in section 477 of the Companies Act 2006, foi the year ended 31 December 2023.The mèmbers have not required the company to obtain an audit of its financial statements for the year in question in accordance with seclion 476. The dlrectors acknowledge their responsibilities for complying with the requirements ol the Companies Act 20C with respect to accounting records and the preparation of financial 51alernents. These finanaal statements have been prepared In accordance with the provisions applicable lo ¢ompanies subject to the small companies règimè. Thè financial statements were approved by the Trustees on. 03 Sep 2024 TThtee Company R•gl$tration No. 06962947
THE CHURCH AT JUNCTION 10 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 A¢counting pollcle8 Charity Infomiatlon The Ghurch at Jundion 10 is a private company limrted by guarantee in¢tsrporaled in England and Wales. The fegistered office is clo Anod)rome Lld, Reservoir Place, Walsall. Vvest Midlands. WS2 9RZ. United Kingdom. 1.1 A¢countlng ¢onvention The financial statemènts have been prepared in accordance wilh the Church's mamorandum and articles of association, the Companies Act 2006 and "A¢counling and Reporting by Charities.. Statement of Rècomtnended Practice applicable to charities preparing their accounts in accordance with the Finanaal Reporting Stsndard applicable in the UK and Republic of Ireland IFRS 102} leffective 1 January 20191" The Church is a Public Benefit Entity as dgfined by FRS 102. The accounts are prepad in $leding. which is the fun¢lKJnal currency of the Church. Monetary amounts in these financial stslement5 are rounded to the nearest £. The accounts have been preparad under the hislorical cost convention, modified lo indude the revalualion of freehold land due for development. The principal accounting policigs adopted are sel out below. 1.2 Golng coneèm Al the lime of approwng the accounts. the Trustees have a reasonable expectation that thè Church has adequate resources to continue in operational existence for the loreseeable future. Thus the Trustees conts'nue to adopt the going ncern basi5 of accounting in prépaiing the accounts. 1.3 Charltable funds Unrestricted funds are available for use at the discretion of the Trustees in futherance of their charitable objÈ¢tives unless the funds have been designated for other purposes. Restrictèd funds are subject lo specific conditions by donors or grantors as to how they may be used. Tho purposes and uses of the restricted funds arfy sol out in the notes lo the financial stalemenls. 1.4 Incomlng r•sources Income is recognised when the Church is legalty entfflèd to il after any performanc8 ¢ondilion5 have been met. the amounts can be measured reliably, and tt is probable that income will be re¢ewed. Cash donations are re¢ognised on receipt. Other donatK)ns are recognised onca the Church has be8n notified of the donation, unless perfom7ance conditions require deferral of the amounL Income tax recoverable in relation to donations received undèr GrftAid is recognised at the lime of the donation. 1.5 Resourcos exp•ndod Liabilities are recognised on the accruals bag15 in ar£ordan wlh norrnal accounting principles. All expenditure is accounted for on an 8ccrua15 basis and has been ¢18ssified under headings that aggregate all cos15 related to the cat69ory. Expenditure 15 recognised where there is a legal or constructive obligalKsn to make payments to third parties. il is probable that the settlement will be required and the amount of the obligation can be measured reliably. 11 is categorised under the following headings. Charitable adivilies- expenditure incurred rèlating directly lo the charitable athviti.es of the Church- Support wsls arKI Govemance costs are allocated beofjn charltable and other actNitiès on a basis )nsislenl the use of resources.
THE CHURCH AT JUNCTION 10 NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 A¢¢ounting policies {Contlnu•dl Support costs are those costs which enable fund generating and ¢h8rilable activities to be undertaken. These costs indude financè, management and administration. WheTe expenditure incurred rglales lo more than one cost category il Is apportioned using a method considered appropriate for each casè. Goveman¢e costs are associated with th& governance arrangernents of the Church al Junction 10. and relate lo the general running of the Church. These costs indude accountancy cost5 assoaated wrth meeting ns1ilulnal and statutory requirements of the Church. 1.6 T•ngible fixed assets Tangiblè fixed assets are initially measurèd al cosl and subsequently m&asured at cost or valuation. net of d&preaalion and any impaimient losses. Deprèciation is recognised so as to writa off the ¢x)st or valuation of ass¢ls less their residual values over Ihelr useful lives tsn the following bases.. Freehold land Fixtures and fittings 20% $lraighl Ilne The gain or loss arising on the dlsposal of an asset is detemined a5 the difference bètween the sale proceeds and the carrying value of the asset, and is re¢ognised in the statement of financial acfjvlttes. 1.7 FSxed asset Inv•gtmgnts Fixèd asset inveslrnenls are initialty measured at transaction price èxduding transaction cosls, and ale $ub$equenlly measured at fair value al eath reporting dale. Changes in fair value are recognised in net in¢ornellexpendilurel for the year. Transaction costs are expensed as incurred. 1.8 ImpalrnRnt offixed assets At each reporting end dale, the Church rewews the Carrying amounts of its tangible fixed assets lo determinè whethèr there is any indication that those assets have suffered an impairment loss. If any such indication exists. the recoverable amount of the assèt Is eslimaled in order to dètèmine the extent of the impaimenl loss Irf any). 1.9 Financial instrumènts The Church has elected to apply Ihe provisions ol Section 11 'Basic Financial Instruments, and Se¢tion 12 'Olher Finanaal Instruments Issues. of FRS 102 to all of its financial instruments. Financial instrument5 are recognised in the Church's b*ance sheet when thè Church becomes paty to the contraciual provisions of the instnjmenl. Basie finaneiTalassets Basic finanaal assets. which irKiude debtors and cash and bank balances, are measured al transaction price. Financial assets classffied as receivable wrthin one year are not amortised. 10-
THE CHURCH AT JUNCTION 10 NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 A¢¢ounting policies (Continued) Basic financial liabilities Basic financial liabilities, e.g. creditors, are recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is mèasured al the present value of the future receipts di5o)unled at a rnarkel rate of intere51. Finan¢ial liab4'1th'e8 dassffied as payable within one year are not amorts'sed. Tradè erèditors are obligabons lo pay for goods or services that have been acquired in the ordinary Course of operations from suppliers. Amounts Payable are dassified as current liabilities if payment is due within one yeai or less. Derecognition of flnanelal Ilabilities Financial liabilities are derecognised when the Church's ¢onlractual obligations &xpire or are discharged or cancelled. 1.10 Employe& b•n•ffts The cost of any unused holiday entitlement is recognisod in the period in whh the emFAoyee's servi¢es are received. Termination benèfits are Tecognised immediately as an expense when the Church is demonslrably committed to t&rminate the employment ol an employee or lo prowde terrnination benefits. 1.11 R•tlTement benefits Payments to defined Ix)nlributKJn retirement benefit schemes are char9Èd as an expense as thèy fall due. 1.12 Mixed Motive investm•nt The mixed motive investment is mèasurèd al cost with the carying amount adjusted in subsequent years to reflect rèp8ymenls and any accrued interest and adjusted is necessary for any impairment. Any impaimenl and any gainsnosses on disposal are included within gainsllosses on inveslmenls. Income from donatlons and l•ga¢l Unrestricted R•stri¢ted funds funds 2023 2023 Total Unr¢$tricted R8strfct fund$ funds 2022 2022 Total 2023 2022 Donations and gifts 162.708 51.032 213.740 148,399 57,498 205.897 11
THE CHURCH ATJUNCTION 10 NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Charltsbl• a¢tiYiti•$ 2023 2022 Staff costs Tithes Apostolic lexduding Tithes) Prophetic (excluding Tilhesl Pasloral lexduding Tith&sl Evangelistic lexcjuding Tithes} Tea¢hing lexduding Trthe51 Buildings New Church 67,828 1S,293 5,738 65,673 14,997 4.380 187) 8.045 4.311 2,285 34.115 25,807 9,035 6,261 2,405 28,913 7,887 143.360 159,526 Shar8 of support IxJsts1gee note 5) Share of goveman¢e Costs lsee note 51 35.813 2,650 35.108 2.684 181,823 197.318 Analysls by fund Unr851ricted funds Restricted ftjnds t73,936 7,887 171,511 25,807 181,823 197,318 13-
THE CHURCH AT JUNCTION 10 NOTES TO THE FINANCIAL STATEMENTS (CONTINUED FOR THE YEAR ENDED 31 DECEMBER 2023 Support ¢o¥ts Support Gov•man costs ¢Mts 2023 2022 Bas1$ of allo¢ation Staff costs Dèpreiialion Office costs Vine Trust seiCe costs Other costs 14,649 4,509 3,794 499 12,362 14,649 4,509 3.794 499 12.362 14,366 100.10 charitable 4,783 100% charitable 3,343 100°A charitable 2.496 100°A charitabl& 10,120 100% charitable Indepandant examlntrrs fees Governance 2.650 2,650 2.684 35,813 2,650 38,463 37,792 Analysed between Charitable activities 35,813 2.650 38,483 37,792 Not mov•m•nt In fund$ 2023 2022 The nel movement in funds is stated aftar ehargingllcreditingl.. Fees payable for the independent examination of the tharity's financial slatements Depreciation of owned tangible fixed assèts 2,650 4.509 2,684 4,783 14-
THE CHURCH AT JUNCTION 10 NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Employ••8 Number of employees The average monthly number of employee$ during the year was.. 2023 Number 2022 Numbgr Engaged on charitable activities Admlnlslralion Employmant costs 2023 2022 Wages and salaries Other pension costs 78,357 4,120 76.028 4.011 82.477 80,039 Key Management Personnel cost5.' Rernuneration, induding p8nsion and employerfs national insurance contributions, of key management personnel totalled £26,41612022. 25,5401. There were no ernployees whose annual remuneration was £60,(XJO or rn0. 15
THE CHURCH AT JUNCTION 10 NOTES TO THE FINANCIAL STATEMENTS (CONTINUED FOR THE YEAR ENDED 31 DECEMBER 2023 Tanglblo flxod a$$ets Fmhold land Flxtures and and bulldlng8 g8 Total Cost or valuation At 1 J8nuary 2023 500,000 23,441 523,441 At 31 D8comb8r 2023 500,000 23,441 523,441 Ooprnclatlon and Impalmiont Al 1 January 2023 Oepreciation chargéd in the year 14,785 4.509 14,785 4.509 Al 31 December 2023 19,294 19.294 Carrylng amount Al 31 Oecember 2023 500.000 4,147 504,147 At 31 Decèmber 2022 500,000 8,657 508.657 The carrying value of land induded in land and buildings comprises.. 2023 2022 Freehold land at current valuation 500,000 500,000 The land was revalued on 10 January 2023 by N J Plant. MRICS of PGB Chartered Surveyors. The valuation is based on the fieehold market value. The Trustees consider that this represent current market value al 31 De¢ember 2023. At 31 Dernber 2023, had the revalued asset been Carfied at historic cost less a¢¢umulaled depreaation and accumLtlated impaimiènt lossas, the Carrying amount woukl have beèn £152.285 {2022- £152,285). 16-
THE CHURCH AT JUNCTION 10 NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Flxed a68el Investments Investment loan nota Co$t or valuation At 1 January 2023 Addth'ons Disposals 15,500 2,842 {6,8151 At 31 December 2023 11,527 Carying amount Al 31 December 2023 11.527 Al 31 Decgmber 2022 15,500 10 D•btors 2023 2022 Amounts falling due within ong year: Other debtors Prepayments and accrued income 6,806 1,070 23,333 2,821 7,876 26,154 11 Cr•dltors'. amounts falling due wlthin one year 2023 2022 Accruals and defer inwme 5,390 11,777 12 R¢tlr•m•nt b•n¢fft $cheme8 2023 2022 Defined contribution schemes Char9Q to profrt or loss in iespecl of defined contribution schemes 4.120 4,011 The Church operates a defined contribution pension stheme for all qualifying amployees. The assets of the scheme are held 5ep8rately from those of the Church in an independèntty administered fund. 17-
THE CHURCH AT JUNCTION 10 NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 13 R8strl¢l•d fund$ The restricted funds of the charrty comprise the unexpended balances of donations and gran15 held on Iiusl subject lo specific conditions by donois as to how they may be used. At 1 January 2023 Incoming resources Resouree8 •xpènded Transfers Gains and loss•$ At31 D0mber 2023 New Church Special olleclions Community Fund 710,197 54,732 17,887) 757.042 23 23 5,000 5,000 715,220 54,732 {7,8871 782,065 Pr•vlous y•ar: At l January 2022 Incomlng resources Resourc•s expèndod Tran$fers Gains and k)sses At31 D8c•mbgr 2022 New Chur Special collections Community Fund 282,662 53,034 125.80n 400,308 710.197 23 23 5,000 5.0 282.665 58,034 {25,8071 300,308 100,(M)O 715,220 The Community Fund has been sel up to support community work5 that will be undertaken in the temporary building. The monie8 are lo be used for actiwties relatèd to community events carried out in tha tèmporary building. During the year ended 31 December 2022 there was a transfer from unrestricted and restred fvnds to reflect the condilions associated with the land held by the charity. 18
THE CHURCH AT JUNCTION 10 NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 14 Unrestrlcted funds The unrestri¢ted fund5 of the charity cornprise the unexpended balances of donations and grants which are not 5ubjecl to specific conditions by donors and grantors as to how they May be used. These include designated funds which have been set aside out of unreslriLted fund5 by the Iruslee5 for speafic purposes. At 1 January 2023 Incomlng resourcos R•sourc8s •xp•ndèd Tran$f¢rn At31 December 2023 Designated Contingency Fund Gèneral fijnds 36.e69 115,188 36,669 106,090 164,840 {173,9361 151.855 164.840 (173.9361 142.759 Previous year: At l Janu•ry 1022 Incoming resources Resources expended Transfèrs At31 De¢ember 2022 Designated Contingency Fund General funds 36,669 417,661 36,869 115,186 169,344 1171,511} {300,3081 454,330 169,344 1171,5111 {300,3081 151,855 15 Analysis of net assets betrn funds Unre$trl¢ted funds 2023 Restricted fvnd5 2023 Total 2023 At 31 Decèmber 2023: Tangible assets Investrnents Current a55elsl{liabilitiesl 4,147 11,527 127.085 500,000 504,147 11.527 389.150 262,065 142,759 762,065 904,824 19-
THE CHURCH AT JUNCTION 10 NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 15 Anatysis af nèt a$sots between funds Iconttnugdl Unrestricted funds 2022 Restricted funds 2022 Total 2022 At 31 December 2022: Tangible assets Investments Current assetsllliabilitiesl 8.657 15,500 127.698 500,000 508,657 15.500 342.918 215,220 151,855 715,220 867,075 16 Relat•d paity tran$a¢fjon$ Transactions with related parties During thè yéar thè Church entered into the following transactions with r91aled partles.. Mr K Daws (Trusteel is also Chief Exe¢ulfve of The Wine Trust, Walsall. Dumg the year the church paid £8,38712022 £32,52n for Serv*5 provided by The Vine Trust. Mr P Miles (Trusteel is an employee of Grace Academy Darfaston. During the year rent of £11,662 (2022 £11.2001 was paid lo Grace Academy,. During the year expenses were reimbursed to Ihe 3 Iruslees lolalllng £12212022 £2,055). -20-