Charfty wIstratit numb•r 1134688 Company r•glstratk*n number 06973220 (England and Wales) WACC COMPANY LIMITED BY GUARANTEE ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
WACC LEGALAND ADMINISTrATIVE INFORMATION MrA C Hanco( Mr R Sell MrRHart Mr I ake Mr G IAt)d Mrs F Holmes Charlty number 1134888 Company numbor 06973220 Re9ht8rnd offlc• 48 East Green, l1v88t1and '8hopAUcand Crwnty Durham DL14 9HJ Indownd•nt •x•mln•r Mrs Jillian Hindmarth FCA J1 Sykes Ltmlled S Hen80n Close South Church Enterprise Park &'sPwAuckJand Co Durham DL14 61OIA
WACC CONTENTS Page Tru$tee8' report Independent examinerfs ret ststement of financkryl acllvities Statwnenl of finarwl ph)stlon Notes to the finan¢41 slatemats
WACC TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 DECEAIBER 2023 TrÉ trustees, ¥tto aro 8Lw tha directors lor thè purposes of c1panY1. rye8enl their annual report aTrJ flnanaal statements for the year ended 31 December 2023. The finar141 $latements have bean prepared in accordancè with the at¢ounting w)liues set ¢yJt in the reS to Ihg finanual 51atemenls and compty wth the Ccynpanies Act 20 and -AccountirvJ and Reporting by Charrtie8'. Slalement of Recommended Practts p1¢able to charitr"8s prepariThJ their accounts Sn 8ceordan¢¢ wlh the Financial Rewting StsThdard 8ppIKable in the UK and Republic of IrelaThJ IFRS 1021" leffectlve 1 January 20191. Obl•¢t1V and •ctl¥ltl•8 The objects of the charty are, for the benefft ofthe publi 1. to advarK8 the Christian faith lin 8ccord8rv 1th ts Ststement of 8elief¥l in Such ways and In Buth parts of the Unli8d Kbngdom or thg d. as the tru8teo8 from Ume to time may thlnk fft,. 2. to relieve $Kkn¢ss and finarKial hardshlp arKI lo promote and pre5eM good heomh by the provision of fvnd8. go&d8 or seThices of gny kiTrJ, includirrfJ through the pro¥isicffl of counsdllfwJ and 6UPW)rt in 6uch p4rt8 of the Unllod Kingdcffi or the worfd a8 ts truste88 from time to time may think fft., and 3. to advanc8 8ducatlon In SLKh ways and in sh part8 of the Ur418d Klngth)m or the thy)rfd as the tn181888 from tlme to lime may think fit. The trustees have pald due ragord to gLKtsnce isud by the Charity Commi58ion in deciding w1 aclivities thg harrty should undartake. Achhv•m•nl• •nd p•rformanc• Introductlon Much of what follows is, rightly, ftK3Od on tpthat do, ministry and support 8CtMOe8. eath of Nthlch com88 aboLrt because of vtho are. VP are is ihe leas lor ttat we th) and who we are is 0 group of people % have taken up the invrtstiorb to be fo1lcNr9 of Jesus. AS Such we are strengthen8d And $u$laintrd through our lives together in worshlp, prayer and féll¢)wship 4¥thi¢h In turn are expre8wJ in missi¢)n and service In Ilne wrth J8SUg words, life and eXaffl. Revlew of th• y•ar & chh OV•T¥lew A8 w• moved into 2023. Co¥ld w88 finalty belwnd {ttwh It lums wt not quite) we hw4e beon very much in the of discovarfng and aswsing V* were as a churth famity arbd how w8 had 'w8athgred' that particular stom. 11 was dear that our overall 'MberShip,, by vthith mean Feople Ytho are reguL9r pa.ctpants In the worship lrfe of the church, had not faIn away to any signffi¢3rrt extgnt. Howev9r, a$ the year W&aSsed we have obseNed a tsr greater variation in atter•Jarte week by week. Som8 we8ks Ihal variation is as much as 25 10 30 pèoplo. have had r In u8 durbng I ¥KI lovel of glving ha8 r•)1 decrea8ed our tXl8ts In many areas have certalnty Increased. This has noticaabkn tangibkn in a number of area8 but non8 a8 8lgnlflcanl as the Incrgases in mortgage interest rates.
WACC TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORTI (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Ba¥s•nfo11 Our annual thurch famity w88kend to Bassenfg11 I1k ple wi May and was well attended by adults and yourvJ people. Famlly Fun Day As we had not bgen able lo raise sufficlent ¥olunte8r8 to stsrt up the Holklay Club again, w8 d9cided to put all our energy into C day and hostad a free Family Fun Day on the churcth premises on the first Saturday in August had booklngs from 50 children vtho came wth atleast one parent. aThJ a waitsw It, athough only 43 lumed up on the day. 17 volunteers were on hand lo prowts entertainment in the fomi of balknn mcJelling. glass P81ntlng. $ton8 painting, making tYacelet8, clay modelling. a quri. t ol war, giant Jenga an¢J Conned 4, fc4)tball Irlcks, giant bubble making, free 88Q, tanty fl056 and refreshments. and we a180 had a bouncy c45tle. an cream van and a magician. The weather was kind to U8 and most familles stayed the day and we gave each child a goody bag to take home. were ab to obtain a grant ot £500 frcrfn Believe Hwsing and receiv&J 8 £200 donthon from the Parish Couneil. 11 was 8n exhausling but very enjoyable day 8nd many parents sahl hcrw much they apprKlaled being able lo bring Ih•4r chijdron to Ike thrd ofKI am for free. R8achlng b•yond our wal Th6 bulk of our CtreaCh and 8upport athbes are focu8ed on local p8opl& and tr1( Commun8 and oulllned below. H¢)wever, our re¢Nded mossages. hich ar• uploaded a8 pcthasts, hw8 Lw) listened to over 4300 tsme8 this year which is a 16% increase over 2022. V4h1 th6 mapnty of listaners are from the UK and USA ihere are 12 ¢ounlri88 in total wth regular lisr8. conlinue our regular financial and prayer $upwt of a numter of natthal and inlemational orggnisab'ons ¥thich Include M1881on Avth'on Fellmhip. Rele88e Intemational. rtd Wslon ar)d TEAR FurJ as well 88 occawonal support Qr off donatv)n8 to many olher ganISat¥)n3 a8 n88d arises. Although most of ojr minlsty arKI wpport acb'viti'es look pLqce Iho wall of Tro Vlrward Centr• (where ¢hurch meets) a numbér dKI tske pl•rn there througlvjul the year. The8e Includ¢'. Monday G•m•• Aft•moon Iw•ektyl This continues lo be a popular lime for peop to meeL drink tea or coffee. chat and pkqy gamg5- table tennis, pool or board gam68. Pargnl T¢)ddhrn Iwwkly) The beglnning of 2023 found the gp dimini8W 7Alth only 6 regular alteThJee5. We Incre1 Communicat and made small changes to Ihe activities available and numbers started to irKrease. We currenlty have ovei 20 namas on the ffj9i8ler re8ultry in 13 to 15 thil¢en attorKliryJ 0 The main Christian events were célebrated Vilh Fairtr•Jè Eggs 8Tra Ea8ler story given al Easter. Adrian camo In to glve out the Falrtrade Advent calendars containing the Chtlslma8 St¢yy. All the chihjren were given bible based story books as presents gt the Chn8tmas paty. are currenlly running on donatio rather than a fixerj thargg and a¥ 011 the attfjndees are vory generou8 we have been ats lo run Self-sU18n1ly. We re¢enUy introduced MhaY$ in the Bag, where Ihe chikjren select a figure or item from a bag then we srng a rhyme that matches e.g. Humpty Dumpty, Inw Vfincy sder. ek. Thls has bgen very well received and we Vuld like lo introduce some Christian nIent bul we we Ilrtsjing it drfficutt lo fffid apprcpriale items tr) put In the b. Any 8uggestlons would be gratsfully rgcoivgJ. A huge thank you lo our Volunteers for the siwrA)rt thty gNe weel and for those people vtho ep into the Ih Covef is required. Frlday Club {Aekty This club for young Feople stsrted at the end of ju and currentjy aitrth arourM1 15 people vR8kly tr game& tsble tannis and profe8811 coaching. pool. taljle football thsul aciiwties finlshlng wilh an inttrestirKJ, oftan left field. trible story.
WACC TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEAIBER 2023 Tho Wdl The Well. %thich iy tha namo of r community based café. is also a mlntsty arKI ¢Mlinues to spearhead our wo of supporting locol peopk and t communty. We have supported many Ic¢al cKgani881ions Ind11ng AYCC (Auckland YcArth and CommuNty Centrel wth a gift of £340. weie also able lo help c#Yh¢YJse Close Churth. vtho run many food p@eds. with a contribution of £500 toward8 the co$t of a commgrcid ¢CkOr. Over £500 wa8 r8l$ad for Macmillan throwJh wr Salurd8y coffee momirKJ and wo were able to donate to 3 loe41 schools enablirKJ them to help families struling over Christma•. are giatefiJl lo all our individual donor8 aTrJ organisatiorffj have Support th8 work finances. ft)od. exFert18e 8ftd advice. The foodbank operated throughwl the year proyidirrfJ 872 food parcels for indithduals. couples and fami118$. We were al80 able lo give nvjre Ihon 60 Christma8 hampers 88 grfts to the pe(4)18 and familie8 we have supported during the year. Our communlty grocery continue8 lo be used regularty and a numbor of axl6m81 k)cal Support organhations continu¢ to U8e our communlty ro tr dnt mMtings. Each dnesdaY vo host Community Mon8y Advu County Dwham thr¢wh Durham Chrfsuan Pather8hlp 8UPPOrt people who are experienang financi diffi11$. Durham Con81abulary run a fortnlghlty drop In w¥i¢8 where membarn of the can ¢ome to talk lo them In a comfortable environment. We nliNe lo provldè 8¢¢48s to Msential hou8•hokl It8m8 w¥J good8 through Acts 435 la Chrfstlan crobb funded reaource platfcrfm). Our coun8oll¢y retir8d thi8 yoar after many years our ¢(xnrnunity. tmrt are 8tHI able to offer li8tening and b•ffi&ndlng s•ryice8 throtsah V4bM. We are grateful for all of volunteers who enablè The Well to offer so much supwrt to 80 many people. They go above and beyond lo ensure that evorycTh como8 have th¢ best experience they c8n, wh8ther buyiryd a coffee, uslng our food bank or aCCesr our MmUnty grocer8. A number of our volunteers have been 'tralne88' from Aydiffe S¢hool for %fvK)m The Vkll wo$ Kn8re that COLdd holp davebp their skllls arKI confiderKe bn a th environment. We continue to build a 8ense of communty, where anyone can ccffie and be treated with dlgnlty. A number of our regulars 8fe lIdIng frlendshlps and have ¢7ealed Iheir support nets¥orks. AS has aNvay8 been the caB8 we believe Je8U8 and our desre to fc4low His exampl8 arKI demonstrate His love 1$ central to evehIng that we do. Th• Well lft Ihe Cornmunlty T¢) Thi$ 'new eXtenOn' lo the oulreKh of The Well set up eaty in 2022 vth all the required P(Alclg8 and Procedures completed by February 2022.The idea behiTrJ trTris inrtiattve wa¥ lo provide support for who thd not of could not thsically got lo The 1. In order to id8nb.fy such need we serrt out infom)8tion to various piole3sional$ vkno we knew frcrfn wr 8 years of wcrting in Thg as Èll as to th)d8. GP 8urgerie8, V8riOU# Communty hubs and organls8llons and the Fxebocth group at'S on in West Auckland,. The help8 w8 offer includg.. maklng cals. filng ID benefft foms. funding for needs in crisis situaliDns from Aets435, referraly to Food bank, CAP {Christians Against Poverty) buthjeting advice, Shopping for Ihe 111 or housebound. bofrnding the lonely and isolated. simF48 DIY lasks and m(ring Ws etc. ReferTa15 began to athve and V• very had appintrn&ts tan9 up 3 full days a week wth a various Crisis siluotions taknng up other days. During the yaar we have madg 254 wsrts for 34 5, 12 of 0M we are befriending on a gUlar basis. Christmas hamFers the ftM)dbank ware very gratefvlly received by 12 of the clients. There have also been many texts, emails and phone calls invofved in arf8nging the various helps provided. During tho course of the yèar 5 other people icined ts team to as81$1 th a small numter of sp1¢ sttuations for ich wo aro very grateful. ar8 still looklng lor mc*e. pwbcularly befrienders, a5 the need Is great.
WACC TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUEDI FOR THE YEAR ENDED 31 DECEAIBER 2023 Woardalo Vlneyard Communlty Church This felbw5hip was planted AucktKI Into Stsnhope a nLmber of yearn ago 8nd 18 now $8ff- sufficient in terms of finance and leadership. One of the I(al leaders has completed Vineyard UK tralnlng and the Weardale reyard 18 now an indeFendent IAneyard church and tharity wlth thelr tyin leadership an(J tru$tee8. And finalfy..... Our senior Jeadars will ba steppirvJ dovm from Igadership 8c4netime in 2025 (final dgts to be confimedl and aftèr a thorough discernment aThJ reetuitmanl process a nthv der has been apwnted and will tske up Ihe role In 2025. This 18 a very maj¢y slep for us arby an opportunity that wll, we believe. brirvJ new vision, vrtalty. 8nd gf¢XVth. Flnancl•l r•¥lew The financlal Statements on p898s 7 to 22 thg perfmarKe and c4Jrrent pOwti of the COMpY which I trustees cOnder to be sa1131actory. The company has a fomial reserves Folicy whereby the trustee8 would ideally like to hold tree reserves to Cover three months core cost¥ experyjrtuffj which 18 currently estimated al approKim8tely £10,000. The company currently has wative fr00 reserves of £52,401. however, if bong temi Ilabilllie8 ar¢ exduded this figure increase lo powtsv8 frae reserves of £91.588, which would be In excess of the level set In the ie8erves policy. The trustees belwe the 8h¢xtfall in unrostrlctèd free reserves wlll be made up in Ihg forthcomlrKJ yows. Stru¢tur•J gov•m•nc• •nd m•nag•m•nt WACC fs 8 tharitat4e wnpany Ilmiled by guarantee. In¢orwated on 27th July 2C#Jg. The company was e8tsbli8hed under a Memorandum of Asso¢i8bon whkh 88tstdi8hed the oblo¢ts and powws of the company and governed under itsArtKles of As60ciaticfi. Th• tru8te08, vtho are 9180 dlrectcn for the puryw of ccrfnpany law. and Mrved durlTrJ theyear and up to the ¢Jate of slgnalurn Of1 fina81 stst¢ments rn.. Mr A C Hanco¢k Mr R Sdlick Mr R Hartley Mr l Blake Mr G Wood Mrs F Holmes Mrs J Rudd Mr M Moore (Reswned 22 January 2023 IResignad 3 January 2023) Tru8t•e r•crultm•nt and appolntm•nt I trustee app)inlments will be by joint deaslon by the cwrent tr189& al theAGM. Inductlon and tralnlng of n•w trugtees The charity trusl88s are currently Ihe ts¥o senior o1th8 church four olher church m8mber$. The tru8tee8 are famitiar with the Charity Commlsgon suppc¥l material for trustees aThY they do noi considw that furthor tralnlng VAII be requi to be undertaken in the frx1herrirq year. Rlsk manag•mont The tw$lees have a duty to wjenlify and review the risks to which thp carity is exposed to SUre approprfate controls are in place lo provide reasonable assurance again$t fra1 and error. The nyks have been re¥i8wed by tho IfU8tee6 and Syst$ estals1*d to mthgate Ihose nsks. Small company pmvlslon• This rep)rt has been prep¥ed in acxordance wilh py0v1810 q)plble to Compan entitled lo tha small companies exemption.
WACC TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 The trtee8, r8Wrt wa8 approved by the Bcord of Trustees. Mr G Truatoe 1 March 2024
WACC INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF WACC I report lo the trust888 on my examinalion of lh8 ffinwKial statements of V44CC (the ch¥tyl for the yagr erKfed 31 D8mber 2023. Rg¥ponslbllltlo¥ and ba•1• ol r•port As thè trustees of the charity land also its threcaorn fcf ts wrp)ses of compary law) you are rosponsible for the preratIc of the fm9141 statemerts in accordwK8 Wth requiT)ents of Ihe Companies Act 20C6 (the 20C6 Having satis)18d myself that lh8 fIna[al 8tstements of the charity are rts)t required lo be aUdIt under Part 16 of Ihe 2006 Act and are digible for indepefth examinatlon. I rep(fft in re8F¢th of my examlnation of thè charty's financial 8tstements carried out under seth.on 145 of the Charities Act 2011 (the 2011 Acii. In carylng out my examination I have f10*d all applieable Directions gNen by the Charty Commls6Ion urKIw 88cts.on 14515I{b) of tha 2011 Act. Indep•nd•nt •xamlno¢• •lat•m•nt I havg completed my ex8m1natn. I confim that no mattws have cc¥n• to ry att•ntron in o)nltI wth t 8xamination givirvJ me causé to belleve that In any Mat81 rè4)ect'. acccntIng rooyds wera not kept in res of Ihe charity as requlr&l by Boction 386 of 2006 Act., or the financial stal8m8nts do rnt accord those records., or the financial slalement$ do not compty wth th8 acwnllng requiiements of section 396 of th8 20C6 Act 0r than any r8quirement trt the accounts give a and fair Wi whl¢h 18 fK&l a matter considerèd as part of an independent examinab"on; or the flnanual statements h•v• r¥Jt been prepared in tdance methods and principle8 of the Stslement of Recommended Praclice for aUntia and rekY)rting by charitie8 4ppli¢at4e lo charities preparing thelr account8 in accordance with thfr Financial Reporlng StsndaTd appllcat40 In the UK arvj Republic of IrelaNI IFRS 102). I have no concoms and have come across no olher matters In cOnrtIon wilh the examination to which attentn should be drawn in this report in ordef lo enab a proper und¢randing of th8 financial statements to reached. Mrs Jllltsn Hlndmarsh FCA lThJepend•nl Examln Alhn syk Llmlt•d 5 Henson Close SoLrth Church Ent8rpri8a Pa B1shopAuand Co Durham DL14 6WA ..J.4....mkn% 2024
WACC STATEIJIENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITUREACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2023 Total Unr68trtcW Reslrlcted fund• funds 2022 2022 Totsl funds 2023 funds 2023 2023 2022 t)onatlons and legsdeB other trading acts'wt+es Investments 93.408 33.339 19.653 113.(61 33,339 109.848 21.932 1,131 21.377 131,225 21,932 1.131 Total In¢¢)fflo 127.652 19,653 147.305 132.911 21.377 154,288 Raising lurKI8 15,459 15.459 12.535 454 12,989 Charftable 135.799 143.483 121,688 8,432 130,118 14 13,500 13,500 Totsl •xp•ndttur• 151.258 7.684 158.942 134.221 22,386 156,607 Net {outgolngylncomlng Ul¢•8 beforn tr•n•f•rn (23,eC131 11.969 111.8371 (1,3101 11,0091 {2.3191 Gross tran8fer8 beiween fund$ 16 89 1891 2.026 {2,0281 Not {•xp•nd1roy{nc0m0 for th• y•arf N•t movgmont In fund¥ 123.517) 11.880 111,63n 716 <3.035) 12,3191 Fund balances at 1 JUary 2023 511.819 89,657 801,478 511,103 92,692 603,795 Fund bolanc•s at 31 Decemb•r 2023 488,302 101.537 589.839 511,819 89,6S7 801,478 The statement of financid acbvities Ir18$ all gain8 and losse8 rewgnised In tho year. Ind in the above income totalliry £11.581 a1 e4)¥JrtUre totalliro £21,438 from di8conb.nued 41VitI.e$. The Statement of finandal acbvibes 8150 c(wnplies with Ihe requirgmerts for an income and exFenth'lur8 account WKleT the CompanA 21)06.
WACC STATEMENT OF FINANCIAL POSITION ASAT31 DECEMBER 2023 2023 2022 Flx•d a88ats Tangible a$$eis 16 601,861 611,675 Current a••ts sks Debtors C88h at bank arKI in h 17 18 1.511 253 137.615 1,044 362 141,940 139.379 Credltorn: amounts l•lllng du• wlthlTr one yoir 143.346 17.412) (8.579> Net current a880ts 131,987 136,767 Totsl ¢urr•nt Ilabllltl•• 733.828 748,442 Crndltorn: amounts f•lllng du• aft•r mor• than one y••r 21 {143,9891 {146,9861 N•t a•••ts 589.839 601,476 Income lund8 Restricted funds Unresldcted funds 22 101,537 488,302 89,657 511,819 589,839 801,476 The company Is enlilled lo the ex¢mption from the dit Nuiremt contwned in seckn 477 of tho Comp8nl88 Act 21x6, forth8 year 31 Decwnber 2023. The dlreclors 8cknovAedge tsir TesF*Mbllil for Crxnpn9 Wfth the requi[wl of th• Comparles Act 2006 with respe lo accounting reec$ and the preparatmin of fina81 statemerrts. The membws have not raqulred ts c¢)mpany to c4)knn an alit of it8 fm#181 statomonts for the year kn que8tion in accordance Mth seclion 476. These financial statem8nt8 have be wepared in a¢dance the provision8 appllcable lo compani88 subj#t to the small companies regime. The financk41 statement$ approved by Ihe Trustees 1 March 2024 MrGWo Trustoa Company f•glslraUon number 06973220
WACC NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Accountlng pdkles Charlty Inforniatjon CC is a private cvmpary limited incorporated In England and Wales. The regbstered office is The 11, 46 East Green. tAuCkl8nd, &"shop Aud(land. County Durham, DL14 9HJ. 1.1 Accountlng eonv•ntlon The finawal statements have ljeen prepwed in xcordaKe wth thg Comp8nl88 Act 2006. FRS 102 Flnawal Reporting Standard applKabl2 in thg UK and Rewtlic of Ireland. fFRS 1027 aTrJ the Ch8rf118s SORP 'Accounllng and Rewb'ng by Charities.. StaleThnl of Recomm8nd8d Practicè applicable to charlll88 pTrpanng their aecounts in accordance V4ith the Financial Reportiry Standard ap1¢able in th8 UK and Republic of Ireland (FRS 1021" {affecYve 1 January 20191. Thè chgrity is a PublK Benefrt Entity 88 defined by FRS 102. The charlty h8B tsken advantag8 ol tho pTovi8lMs In the SORP for charliles Mt to prepare a Statent of Cash Flcrtm. flnaral 8tsterrnnts are wepard in JterlirKJ, Thk 1$ tt furKOon•l currery of the ch8rfty. Monetary amounts In th¢8e $18tements are roundod to the ne•r £. The finanei81818lwnents hav• b8en pwred undw hi8tixk4 ctht ¢LyNention. Tha pNn¢ip•l accounting polic188 adoptsd are Set ¢Mrt below. 1.2 13olng conc•rn At the Ilm¢ of apwo¥ing the ffinanclal 81atement$, the truslee8 havo a rea80nab expectation Ihat the charty ha8 8d8quate resources lo ¢Mtinue in operation818St8nce for tre for8sagal8 futur8. Thu• the Inth&s continue lo adcpt the going e<>n¢em bfj of aceounllrg in prepanng thg financkg18talomentS, 1.3 Charftabl• fund• Unrgslricted fu3 Of0 available at the tknN)n of the trustees in furtheronca of th8if charitable obJ•¢li¥es. RestrlGted fuTrls a subject to SP coThJitws by donors 0$ to they may bg u8&1. The purw¥•s and U6e8 of the re8trfcted funds are 8et In thtr notes to tho financial statements. Endowment fiJrxl$ are 8utyect to 8peth condthn by donor8 th•t the Cats1 must be maintsin&J by th• ahorty. 1.4 Income Income is recognlsed vthen the charrty is lety 8nlUed lo it after 8ny perfmanCe coTrJitions have been mot, the amounts can be measured relkgbly, arKI rt is probable that income wll bts received. C88h donallons 8ffj recogN8egJ C receipt. Other donations a r¢rngnlsed onc8 ts charfty h88 been nolffied of the donalicq), unles5 pwfoMian condrficffl8 r4uire defeffd of the am1. Income lax recoverable in relation to donations rgcerved under GiftAid or doeds of <a)venant18 re¢ogni8ed al the time of the ¢JOnatn. Legacie8 are recognised on relpt or otherwise rf the charty has been nolrflgd of an Impending dkilrltrArtion, the amount 18 knMI, r10 exrknj. If the amount is rnt kr, the legacy is treated as a conlingenl asset.
WACC NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Aetountlng policias {Contlnu8dl 1.5 Exp•ndltur• Expenditure 18 r¢¢ogni8ed orKe tfere is a leg81 or eonsthKtive otAigatk?n to transfer enOMiC benefll lo third paty, il ts probable that a transfer of ecoTh)mic beneffts will be required in settlement, and the amount ol thè ¢knligatson can be measured rnliabty. Expendiluro is cJas$ified by The c0818 of each l]¥ty are made up of totsl of di[t costs arKI shared costs. including SUPPOrt o)3ts involved in urKlertaklng each acbvty. Direct Costs attributst48 lo a Single activty are olloeattd diredy to that activity. Sharéd ¢osts which cc¥rtribute to more than one 8th.vity and wpport costs which ore nol atlributat4e to a Sing actNty are appcmb'oned beMen those actlwls on a basis conslstent wAih the use of re8ource¥. Central staff costs are allctaled on the basis of time spent, and derKeoatson tharys ar• allc¢abJ on Ihe wlion of ts as& u8e. 1.6 Tanglblo flx•d M••ts Tangible flx8d assets are initllY measured 81 cost and 8th•quontty m&a$urod 81 $1 or valualn, net of deprecIaon arKI any impairnent bs8tt. Depreciation 58 recognised 80 as lo V•Tite off the cost or valuakn of a88et8 I I1r reshlual values over th•ir U8eful lives on the follow'ng ba888: Freth)Id Pfopety Flxtures and fiitsngs Equipment 1% straight line 20% Strah1 line 25% & 33% straight Th• gain or108$ •rl8iTrJ on the disp0891 of an 8s8et Is detemiingd as the drllerence been th• 49le proceeds and the c8rrylng value of the asset. and 18 recognis8d in th8 statement of financial actlvrtle8. 1.7 IMlnt of flx•d iss•ts At each reFQrting end date, t th4nty re¥ tr canying amounts of 118 t3Ible assets to d•lemiine whether there is any indl¢atK)n that those assets h•ve SLrfered an impairment 105$. If any 8ueh Indullon exists. the reGoverable amount of th8 asset is estlmatgj In to determlne tho tsxkn)t of tha impairment lo(11 any). 1.8 Sto¢k• StoGk8 afe gtsted at the Iov•r of cost and ésttmated prtce le8¥ costs to complete and 8611. Cost indu¢Je¥ all c08ts of purchage. costs of cg>nvers1 crthtr costs Incuff&J in JIng the stock lo tts prgsent lttation and condibon. Net reallsable value is thB 96mated Selllng wlce le85 all estinated o)Bts of ¢ompletlon 8rKI cos18 to incurred In marketin9, selling aThl dIStrE1L. 1.9 Cash and ca8h equlval•nts Cash and cash ¢quNalents IrKI in harmy. held at call wrth banks, other short-teryn liquid investments Trmth lgInal malurrbos of threo months or less, and bk overthafts. B8rt overdrafts are shovffl within borrowings in Tren1 Ilabilities. 1.10 Flnancl•l Instruments charity has elected to provislcrn of *tion 11 'Ba8ic Fironcial In8iruments' and StIOn 12 'other Flnanual Instruments Issues. of FRS 102 to all of its finanual instruments. Finanoal instruments are recognised in the charivs balarKe sheet when the dprity b0M&S paty to thg contractual wovisions of the InStrnent. 10-
WACC NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Accountfng polich8 {Contlnu•d B•sk flMn¢iJl ass•ts Basic financial assets, tAthith Includè debloTS and cash and bank balances, are Initialty measured lransath.on price indudiThJ transactton costs arKI are subsequerrtly carnied at amortised cost using the 8ffeGb've interest method unless th8 arrangement constitutes a financing transaction, where the transaction rs measurèd ai the present value of the future r8cgipts discounted al a market rate of interest. Financial a35ets classlfied a8 recwiable within one yèar are rw)t amorlistA. B•sk ffnancial Ihbllltles Basle financial liat4litss, IlUdIng creditors and bank loans are initkqlly TergniSed 8t trarnaction pdca unloss the arran9gmenl constitutes a fina1rj transacn, w)ere the debt instrumont Is measured al Ihe present value of the fijlure payments discounted at a market r8t6 of inlerest. Finanal li8ts'lrtie8 dassffigd as payable thin on¢ year are amorti¥ed. Trade crodllors are oblig8lons to pay lor go¢4Js or 8er¥ic8s that have been wuired in the ordinary cour88 01 owrallon8 from suppliers. Amounts payabla are ClaSsrf a¥ curr8nt liabilib'es rf p8ym8nt 1$ due withln on& year le88. If not, they are presenied as non-vjrrent liabilrties. Te cfedrtm ore recognised initially at transaction pn¢e arvj sub8equonty measured at Orild cost u¥ng Ihe effecllve Interest method. 1.11 Employ00 b•n•fft• Termlnation benefits are reeognised immediatety os an expense ¥t the ch8rfty18 demon8traLly (mted lo terminate the employment of an empbye6 or lo prowde l¢miinabcffl bef18. 1,12 R•tlrnment b•n•llt8 Payment$ to defined contri1b( tnefit SChne$ are dwrgad as an exp8nse a¥ they lall due. Crftk•l ccounUng 08tlmat•• and Judg•monts In the 8ppllcatlon of the chaty's a¢¢¢Junting pdicaes, the truste are wulred to make Igements, e8tim8t•8 and assumptions alUt Ihe caffyiro amtyjnt of assets and lbIlitieS that are t readlty apparent from other $ourc8s. The estimates as80rialed a88umption8 are based on histwic81 tsxp•rignce and other faCtS that ara effi8ldered to bo relevant. Aduol rewlts may dffl6r frcth the88 ewnate8. The 8$1imate8 and undedyiryj assumptions are revi?d on an oryoing ba818. Revisions lo a¢¢oundn9 estlmalés are recL)3nis¢d in the wl¢>J in which the eytlmate revi¥ed th the revision affects lY that period, or in the penod ol Ihe rewslon and fiJture perfods wtlere the re80 affeds both CulnI and future perfc4I5. Llmtt•d by guarnrrt•• The drity is a ccrfnpany limrted by guarantee, thèr& bwr#J no is81 share capital, and as suth is not und8r the direct control of any individu81 bul by the board of diret#crfs as a whole. At 31 December 2023 there were 6 members. eh of vrtm hats unthrtaken to contrilxJt• an amcmjnt rA)t exceeding £5 In the event ol a IndIr 11
WACC NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Donations and legacl Unv••trlct•d Rostrlcled fund8 funds Total Unrestricted Restrfcted furKI$ funds Tol 20TJ 2023 2023 2022 2022 2022 Donations aTrJ gffts Grants ReceNablo 93,408 17.653 111.(1 2,000 107,181 2,867 17,387 3.990 124.568 6.657 93,408 19.853 113,1 109.848 21.377 131,225 Grants rn¢•lvabl• for ¢ore actl¥ltl•s CovkJ-19 Supkx)rt Funding Amold Cl8rt Believe Houn9 Durham Communty Action 2.687 2,667 2,500 1,000 2.500 1,000 1,000 1.000 1.000 490 490 2.000 2.667 3,990 8,657 Other trndln9 actlvrti Unr••trlct•d Unrestricted fund• fund8 2023 2022 Shop income Trading activity Ir*xrn'. ott 32,276 l,L3 21,075 857 Other tradlng athvlti88 33,339 21,932 -12-
WACC NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Invoslm•nts Unr•strict•d Unrestricted funds lund8 2023 2022 Rental Income 8ank interest rxeivable 700 205 1.120 11 1,131 Ral8lng fund• Unr••trfct•d Unwtrlcted Restrfctod nd¥ fund8 Total 2023 2022 2022 2022 Owraling charity $hop8 Other trading activitiés 13,480 55 9,862 77 9.862 77 TrsdiThJ ¢08ts 13.535 9,939 9,939 1.924 2,596 454 3,050 15,459 12.535 454 12,989 13-
WACC NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Charitable activltles Church ActivIt 2023 The Wall Vlneyard W•ardalg Centr• Vln•ya 2023 2023 Total 2023 Total 2022 2023 Staff co8t8 Spiritual Development tknalions & sEthsShIP Outrea Other oJsl8 Donati¢Jns lo olher chwilles 31,398 2.905 9.367 10,427 125 250 5,852 41,825 3.945 11,265 5,852 2,617 48,271 915 12.687 7.291 875 2.817 17,436 17.438 46.287 16,654 19,999 82,940 73,433 Grant funding of activlb.es (see note 91 6,250 Share of 5UPFOrt ¢08ts1gee note 101 Share of govemgnGe co8ts 186e note 101 16.882 20.981 5.8TI 1,439 44,979 39,503 4.C¢O 4.0 3,383 15,564 10,932 87.030 41.695 9,937 24,821 143,483 130,118 An4 by fund Unrestrfctad fund8 R6slrlcted lunds 64,525 2.505 37,085 4.630 24,821 135.799 121,886 8.432 549 87.030 41.695 9,937 24,821 143,483 130,118 During the year Weardale Vornyard actlvty was trangforred into a separate thanty. The total un8pent cash generated by ttw8 a¢tivity lotalling £17,436 wa6 <k)nated to Its nv•V charity. -14-
WACC NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Charltsbl• activltles Icontlnuod) For the yoar frnd 31 December 2022 Church Athiti Tho W•ll Vlneyard WrlI0 Contre Vlneyanl Total 2022 Staff costs Spiritual Dovelopmenl Donations & SFon80rship Outreach Other costs 40.009 3,706 9.&87 8,262 28 48.271 4,309 12,887 7,291 875 575 3,290 7.291 875 53.957 15.611 3.865 73,433 Grani fundlng of actfvities (see note 91 6.250 6.250 Share DI Support costs {8ee rth 10) Share of wv¢marKe C#)sl$ (see n(*è 101 18.317 2.733 12,861 2,733 5.598 2,733 2,729 2,733 39.503 10,932 75.fK17 31.205 8,329 15,577 130,118 An•lys18 by fund Unre8tr1¢ted ftJrK18 Reslri¢Xed funds 74,242 765 24.087 7.118 7,780 $49 1 5,577 121,886 8,432 75.007 31,205 15.577 130,118 Gfints payable W•wdale Viney•Td 2022 Grants to instilution$'. Other 6,250 15-
WACC NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 10 8upport Costs Support Govofnanc• colts 2023 Support Govemanc• 2022 Depr8ciion PTemi8es costs General office costs Otr costs Legal and profe88ion 10,690 24,000 10,6 24,000 7,263 2,991 9,540 18,483 7,065 4,367 9.540 18,483 7,065 4,367 48 2.991 35 Accountsncy fees Flnance cost$ Leaders, Tfainir 2.940 12.260 2,940 12.260 2.937 7,611 2,937 7,811 44.979 15.W 60,543 39,503 10,932 50,435 Analysed bètsveen Charitsble xtivlli•s 44.979 15,584 60,543 39,S03 10.932 50,435 11 Ind•pendent •x•mlnallon f• F•M p•yablg to th• Ind•p•ndont •x•mln•r 2023 2022 Independent examlrth'on oftho chanty's annual Stat Other ffin8ndal sep1# 2.400 540 2.340 597 2.940 2,937 12 Trustee8 Mr A C Har0(, tnJ81ee recwved remuneration totallirs £11.C65 during the year in hrs rde as th8 church pastor. The tharity a180 P8KI penslon ccrfrtribution$ totalling £12 on h18 bèh8W. Thls rgmunerallon was considered allowabl8 under the cA)mpanls arts'cles of associatp)n vknich stste that 8 tru81ee can b? remunerated providing it is auth(Klsed by a re8(MuliM of the trtee5 aTrJ Ihe tru$lges are $8ti8fied they are the best person jrtj. No remunoralion or other fr¢¥n r0Ynt with the tharity or a rela entty thEre received ty the otrr tnjstees. No trustee exp have teen incurred. 13 Employw• The averag8 monthly numlxr of empwes durir¥J ts year wa5.. 2023 Number 2022 Number 16-
WACC NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEM8ER 2023 13 Employw8 IContlnu•dl Employm•nt ¢08ts 2023 2022 Wages and salaries Other pons)n cost8 41.521 304 47,908 363 41,825 48.271 Thera Vre no employees wkK>8e ar*Ml remuneration was rne than £60.000. 14 Oth•r Totsl Restrictsd fl8 2023 2022 Hopa In 8 Ihn Income refunded 13,500 The abjve relalas lo Income rKeived <lireclty for th? wrposos of acqrIa a van. The Income was refvnded lo the donors and funding proer6 when it was deo'ded rnt lo go ahead WTth the van wul81t1. 15 Tr•n•fev8 A tran8fef of £89 was mad8 from re8trlct8d to unr88trthd funds relatlng to unspent vknich are ¢on8ideied to not b? repayable, 11 was agreed that Ihe unsp8nt famity youth wrker ¢Jonalions of £14 420 could be SnI on Successk planning 8TrJ tfore th? fiwKI8 wern transfv•d to 8 new re8trcted I(1 for thls wrpogo. 17-
WACC NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEM8ER 2023 16 T•nglbh fixed assets Fr••lhYd Fixthrn• and EqpM0 Tol•l CoBt Al 1 January 2023 Addrtions r16?16 6H.831 13.329 25,497 878 (1,2271 683,657 876 {1,2271 At 31 Dttamter 2023 644.831 13.329 25.146 683.306 D8prncl•tlon and Implrm•nt At 1 January 2023 Dopociatscffl charyd in the year Elimlnth In re8rrti of disposali 45.1 6.448 12.818 292 14,228 3.950 11,2271 71,982 10,6 (1,2271 Al 31 Decembèr 2023 51.584 12,910 18.951 81.445 C•rylng *mounl At 31 December 2023 593.247 419 8.195 601,861 At 31 December 2022 599,695 711 11,289 811,875 17 Stock• 202J 2022 Raw matedals and consumat4es 1,511 18 O•btorn 2023 2022 Amounts lalllng du• wSthln on• y•ar. Other debtors 253 18-
WACC NOTES TO THE FINANCIAL STATEPAENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 19 Lo•n• and ¢)verdrafts 2023 2022 Bank loans 147.387 149.988 Payable whhin one year Payable after one year 3,398 143,989 3,000 146, Amount$ includèd •tfjve which fal due after five years: Pay8We by inslalmonts 127.154 132,715 remainirKJ lem of the bank k)an a8 at 31 December 2023 was 20 and 9 month$. The ltxn 18 repayable by in6talm•nts an(1 Ihe Interest rate 06 at 31 Dem 2023 wa8 8.75%. 20 Cr•dltor•: amount8 hlllng du• wlthln on• y•ar 2023 2022 BarAt bons Other laxalion arKI swal security Trade creditors other credittxs Accrua18 and deferred In¢Lvno 19 3,398 3,000 89 778 1,158 315 2.$41 2,732 7,412 6.579 Th• bank loan is jr0d agoirét the propety P*ld by tho ¢tynpany. Cr•dltov•: amounts l•lllng due after more than on• y•ir 2023 2022 Noto0 Bank In$ 19 143.989 148,966 The bank loan 1$ seared against the prop8ty held by the ¢c#npany. 19-
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WACC NOTES TO THE FINANCIAL STATEpaENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Anal15 of nat usots b•tWgen fvnd• T(rtal Unre6tri&ed Restricted funds 2022 fvnds 2023 Total fvnds 2023 2023 2022 2022 Fund balances al 31 December 2023 are presente¢J by.. Tangible assets Current a8setsl(liabiliti•8) Long tam liabilitie8 $40,703 91.588 (143.989) 81.158 40,379 601.861 549.853 I31.7 108,932 1143.989) 1146,9661 61.822 27.835 611.875 136,767 {146.9681 101.537 589.839 511,819 89,857 801.476 24 R•l•t•d party tr•n•actlon¥ R•muthoratlon of kny m•naggmen¢ p•rnonn•l Tha remunwation of kty manernent rsonn is as fThl¢M7. 2023 2022 Aggrogate m[n89th 21,505 18.290