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2025-12-31-accounts

Charity registration number: 1134904

Wade Street Church, Lichfield (United Reformed and Baptist)

Annual Report and Financial Statements

for the Year Ended 31 December 2025

Bissell & Brown Midlands Limited Chartered Certified Accountants Charter House

56 High Street Sutton Coldfield West Midlands B72 1UJ

Wade Street Church, Lichfield (United Reformed and Baptist)

Contents (continued)

Reference and Administrative Details 1
Trustees' Report 2 to 8
Statement of Trustees' Responsibilities 9
Independent Examiner's Report 10
Statement of Financial Activities 11
Balance Sheet 12
Notes to the Financial Statements 13 to 21

Wade Street Church, Lichfield (United Reformed and Baptist)

Reference and Administrative Details

Trustees Lawrence Frank Williams Jane Hardy Reverend Danielle Leigh Dennis Platt Helena Maija Cresswell Gienevieve Evelyn Caroline Cannan Louise Kerry Charters Keith Geoffrey Newton Charity Registration Number 1134904 Principal Office Wade Street Lichfield WS13 6HL Independent Examiner Bissell & Brown Midlands Limited Chartered Certified Accountants Charter House 56 High Street Sutton Coldfield West Midlands B72 1UJ

Page 1

Wade Street Church, Lichfield (United Reformed and Baptist)

Trustees' Report

The trustees present the annual report together with the financial statements of the charity for the year ended 31 December 2025.

Trustees and officers

The trustees and officers serving during the year and since the year end were as follows:

Trustees: Lawrence Frank Williams Jane Hardy (appointed 26 March 2025) Reverend Danielle Leigh Dennis Platt Helena Maija Cresswell Gienevieve Evelyn Caroline Cannan Louise Kerry Charters Keith Geoffrey Newton Margaret Rendle (resigned 26 March 2025) Nicholas Tudor (resigned 10 March 2025)

Structure, Governance and Management

Wade Street Church is a Local Ecumenical Partnership between the United Reformed Church and the Baptist Union of Great Britain.

The charity is governed by its constitution and overseen by the trustees, who also serve as the church eldership. Trustees are appointed and retire in accordance with the constitution and are responsible for the overall governance, strategic direction and financial oversight of the church.

The trustees meet regularly throughout the year to oversee:

worship and ministry; safeguarding; staffing and volunteer support; financial management and budgeting; property maintenance and development; community engagement; strategic planning.

The day-to-day operation of the church is supported by employed staff together with a large team of volunteers involved in worship, children’s and youth work, pastoral care, administration, hospitality, outreach and facilities management.

Objectives and Activities

The objectives of Wade Street Church are the advancement of the Christian faith through public worship, teaching, discipleship, pastoral care, mission and community engagement.

The church seeks to provide benefit to the public through:

regular acts of Christian worship and teaching; children’s and youth activities; pastoral support and wellbeing initiatives; outreach and evangelism;

Page 2

Wade Street Church, Lichfield (United Reformed and Baptist)

Trustees' Report (continued)

support for local, national and international charitable causes;

the provision of community facilities within the centre of Lichfield.

The trustees confirm that they have had regard to the Charity Commission guidance on public benefit when reviewing objectives and planning activities.

Membership and Attendance

Membership

Membership
Numbers at Dec 31st 2025 2024
LEP Members 180 184
Church Members 180 184
Baptisms 3 10

People in Regular Contact with the Church

People in Regular Contact with the Church
Numbers at Dec 31st 2025 2024
No of Adults 399 396
No of Young People 50 50
No of Children 75 75

NB These are numbers based on Church Suite and estimates from children and young people’s work that cover midweek activities as well as Sunday worship.

Regular Attendance at our Sunday Services

Regular Attendance at our Sunday Services
Numbers – average in year 2025 2024
65 plus 70 70
31-64 75 85
18-30 15 15
11-18 15 20
0-11 25 29
On Line 15 15

NB The service numbers from both 9am and 11am are included as we have 2 regular services each week with different attendees across the two, a very few who attend both. This has been the basis of previous years submissions since we went to 2 Sunday services. Evening services are not included as are not held regularly.

Review of Activities

Worship and Teaching

The church continued to hold two regular Sunday morning services throughout the year, providing opportunities for worship, biblical teaching, prayer and fellowship. The church also held occasional evening services, baptisms, seasonal celebrations and civic services.

Page 3

Wade Street Church, Lichfield (United Reformed and Baptist)

Trustees' Report (continued)

The year began with the minister taking a two-month sabbatical, during which a number of guest speakers contributed to worship and teaching. Teaching series during the year included studies in the parables of Jesus, 1 Corinthians, Exodus and a “Journeying with Jesus” series during the autumn period. Advent and Christmas services continued to attract increased attendance from the wider community.

Children and young people contributed regularly to all-age worship services during the year.

The church continued to benefit from a committed volunteer worship and technical team supporting music, sound, visual presentation and livestreaming. Livestreaming continued to support members unable to attend in person.

Mission and Global Partnerships

The church-maintained support for a range of local, national and international mission partners through prayer, financial giving and regular engagement.

Mission partners supported during the year included:

Baptist Mission Society

Africa Inland Mission

Dignity Restoring Hope

Release International

Pathway Project

Lichfield Christian Schools Work Trust

Prison Fellowship

The church continued its policy of allocating at least 10% of general income towards mission support.

Mission partners visited the church during the year to provide updates and strengthen relationships with the congregation.

During 2025 the church also raised more than £24,000 through the “Water Warriors” appeal in partnership with World Vision to support two clean water projects in Zambia.

Baseball Camp and Community Outreach

Baseball Camp remained one of the church’s largest outreach activities during 2025 and was delivered in partnership with The Woodlands Baptist Church, Texas together with local churches including Life Church Lichfield and Lichfield Methodist Church.

The event was held at The Friary School and involved approximately 220 children and young people. Activities included baseball coaching, cheerleading and introductory sessions for younger children.

The camp also provided opportunities for engagement with parents and families and strengthened relationships with local schools and partner churches.

Positive feedback was received from attending families and the event continues to be viewed as a significant outreach opportunity within the local community.

Children and Families Ministry

The church continued to provide a broad range of activities for children and families throughout the year.

Sunday groups included:

Sparklers for younger children;

Blaze for junior-aged children;

crèche provision during services.

Page 4

Wade Street Church, Lichfield (United Reformed and Baptist)

Trustees' Report (continued)

Messy Church continued to meet monthly and attracted both church and non-church families. Sessions included craft activities, games, worship, teaching and shared meals.

Midweek activities included:

Explore Bible study group for young people;

Wonderfully Made support group for parents and carers;

Toddler Group for toddlers and carers.

The church also continued to support mentoring work within local schools through partnership with Lichfield Christian Schools Work Trust. Mentoring support was provided within local secondary schools, helping young people experiencing confidence, attendance or wellbeing difficulties.

The trustees remain grateful for the commitment of volunteers supporting children’s and families’ ministry throughout the year.

Youth Ministry

The youth ministry underwent a period of transition during the year following the departure of the Youth Ministry Enabler during the summer.

Despite this change, the volunteer leadership team successfully maintained continuity across Sunday and midweek youth activities.

Youth activities included:

Ignite Sunday morning sessions;

Unite Sunday evening gatherings;

Explore and Navigate Bible study groups;

social events and trips;

regional youth activities organised in partnership with other churches.

The church continued to prioritise relational support and discipleship for young people during a period of staffing transition.

Pastoral Care and Discipleship

Pastoral support remained a significant area of ministry throughout the year.

Support was provided through:

house groups;

virtual pastoral groups;

prayer ministry;

home visiting;

practical support;

meals and transport assistance;

informal pastoral relationships across the church community.

Nine house groups met regularly during the year, providing opportunities for Bible study, prayer, fellowship and pastoral support. Approximately 115 people were involved in house groups, with further support provided through virtual pastoral groups.

Page 5

Wade Street Church, Lichfield (United Reformed and Baptist)

Trustees' Report (continued)

The trustees recognise the substantial contribution made by volunteers involved in pastoral care and discipleship ministries.

Women’s Ministry – The Women

The Women supported one another in a variety of ways which included:

Men’s Ministry – Mankind

The men supported one another in a variety of ways which included:

Prayer Ministry

Prayer continued to underpin the life of the church throughout the year.

Regular opportunities for corporate prayer included:

monthly prayer meetings;

women’s prayer gatherings;

leadership prayer meetings;

prayer ministry after services;

ecumenical prayer initiatives within the city.

Prayer requests were also supported through Church Suite communication systems and dedicated prayer teams.

The church prayer room remained available throughout the week for personal prayer and reflection.

Community Engagement and Wellbeing

The church premises continued to be used extensively by community groups and external organisations throughout the week. Approximately half of overall building usage relates to community and non-church activities.

Key community initiatives during the year included:

The Well wellbeing café initiative;

Toddler Group;

Take a Break lunches;

Tea and Cake afternoons

support groups; wellbeing activities;

Wade Street Wanderers;

partnerships with schools and local charities.

Page 6

Wade Street Church, Lichfield (United Reformed and Baptist)

Trustees' Report (continued)

The Well continued to operate weekly in partnership with Renew Wellbeing and provided a supportive environment for individuals experiencing loneliness, isolation or mental health challenges. Weekly attendance regularly exceeded 40 participants.

Take a Break continued to provide hospitality and social connection for older members of the local community.

The church football outreach team, Wade Street Wanderers, completed its first full season during the year while also raising funds for Pathway Project.

Property and Facilities

The trustees continued to oversee maintenance and development of the church premises throughout the year.

Work continued in relation to planning and preparation for the Accessibility and Facelift Project, intended to improve accessibility, visibility and welcome at the church premises.

Staffing and Leadership

The trustees wish to record their appreciation for the commitment and service of staff and volunteers throughout the year.

Financial Review

The accounts for the year ended 31 December 2025 show a reduction in the unrestricted reserves of £20,285, and £9,153 in the restricted fund before the transfer of the church and the manse from unrestricted to restricted funds in lne with our reserves policy.

When the 2025 budget was approved, it was anticipated that unrestricted reserves would need to be utilised to support operational expenditure. However, reduced staffing costs following the departure of the Youth Ministry Enabler during the year, together with increased one-off donations, meant that reserves were not required to support day-to-day operations.

Income continued to be supported primarily through congregational giving, Gift Aid recovery and community room hire income.

The balance sheet remains strong, with healthy unrestricted reserves.

The trustees continue to review reserve levels in accordance with the church’s reserves policy and anticipated future expenditure commitments.

Reserves Policy

The trustees aim to maintain unrestricted reserves at a level sufficient to:

support ongoing operational expenditure;

manage unforeseen financial pressures;

maintain staffing commitments;

provide resilience against unexpected building or maintenance costs.

Reserve levels are reviewed regularly in light of anticipated expenditure, ministry priorities and future capital commitments, specifically

Page 7

Wade Street Church, Lichfield (United Reformed and Baptist)

Trustees' Report (continued)

Risk Management

The trustees regularly review the principal risks facing the charity and have implemented policies and procedures designed to mitigate these risks where practical.

Areas considered include:

safeguarding;

financial controls;

health and safety;

data protection;

staffing and volunteer capacity;

cybersecurity and online systems;

maintenance of the church premises.

The trustees are satisfied that appropriate systems and procedures are in place to manage these risks.

Future Plans

During 2026 the church intends to continue developing its worship, discipleship, youth and community outreach activities.

Particular priorities include:

continued development of children’s and youth ministry;

expansion of community wellbeing initiatives;

further strengthening of pastoral support structures;

continued delivery of Baseball Camp and other outreach activities;

progression of the Accessibility and Facelift Project.

The trustees also intend to continue developing the church’s SIGNED SECURELY longer-term strategic planning for growth, mission and community engagement.

10/07/2026 at 6:47:31 AM UTC

The annual report was approved by the trustees of the charity on .................... and signed on its behalf by:

SIGNED SECURELY

10/07/2026 at 6:47:31 AM UTC

.........................................

Lawrence Frank Williams

Trustee

Page 8

Wade Street Church, Lichfield (United Reformed and Baptist)

Statement of Trustees' Responsibilities

The trustees are responsible for preparing the trustees' report and the financial statements in accordance with the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) and applicable law and regulations.

The law applicable to charities requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charities (Accounts and Reports) Regulations 2008, and the provisions of the constitution. The trustees are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions. SIGNED SECURELY

10/07/2026 at 6:47:31 AM UTC

Approved by the trustees of the charity on .................... and signed on its behalf by:

SIGNED SECURELY

10/07/2026 at 6:47:31 AM UTC

......................................... Lawrence Frank Williams Trustee

Page 9

Wade Street Church, Lichfield (United Reformed and Baptist)

Independent Examiner's Report to the trustees of Wade Street Church, Lichfield (United Reformed and Baptist)

I report to the trustees on my examination of the accounts of Wade Street Church, Lichfield (United Reformed and Baptist) for the year ended 31 December 2025.

Responsibilities and basis of report

As the charity trustees of Wade Street Church, Lichfield (United Reformed and Baptist) you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).

I report in respect of my examination of the Wade Street Church, Lichfield (United Reformed and Baptist)'s accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner’s statement

Since Wade Street Church, Lichfield (United Reformed and Baptist)'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 ACCA, which is one of the listed bodies.

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

  1. accounting records were not kept in respect of Wade Street Church, Lichfield (United Reformed and Baptist) as required by section 130 of the Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the accounting requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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.

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 accounts to be reached.

...................................... Paul Matthews (FCCA) Chartered Certified Accountants ACCA

Charter House 56 High Street Sutton Coldfield West Midlands B72 1UJ

Date:.............................

Page 10

Wade Street Church, Lichfield (United Reformed and Baptist)

Statement of Financial Activities for the Year Ended 31 December 2025

Note
Income and Endowments from:
Donations and legacies
Other trading activities
Investment income
4
Total income
Expenditure on:
Charitable activities
Total expenditure
Net expenditure
Gross transfers between funds
Net movement in funds
Reconciliation of funds
Total funds brought forward
Total funds carried forward
14
Note
Income and Endowments from:
Donations and legacies
Other trading activities
Investment income
4
Total income
Expenditure on:
Charitable activities
Total expenditure
Net (expenditure)/income
Gross transfers between funds
Net movement in funds
Reconciliation of funds
Total funds brought forward
Total funds carried forward
14		 Unrestricted
£
228,539
30,548
3,158
262,245
(282,530)
(282,530)
(20,285)
(490,871)
(511,156)
691,781
180,625
Unrestricted
funds
£
232,658
29,978
4,562
267,198
(305,239)
(305,239)
(38,041)
22,494
(15,547)
707,328
691,781		 Restricted
£
33,230
6,490
-
39,720
(48,873)
(48,873)
(9,153)
490,871
481,718
800
482,518
Restricted
funds
£
22,494
800
-
23,294
-
-
23,294
(22,494)
800
-
800		 Total
2025
£
261,769
37,038
3,158
301,965
(331,403)
(331,403)
(29,438)
-
(29,438)
692,581
663,143
Total
2024
£
255,152
30,778
4,562
290,492
(305,239)
(305,239)
(14,747)
-
(14,747)
707,328
692,581

All of the charity's activities derive from continuing operations during the above two periods. The funds breakdown for 2024 is shown in note 14.

The notes on pages 13 to 21 form an integral part of these financial statements. Page 11

Wade Street Church, Lichfield (United Reformed and Baptist)

(Registration number: 1134904) Balance Sheet as at 31 December 2025

Note
Fixed assets
Tangible assets
10
Current assets
Debtors
11
Cash at bank and in hand
12
Creditors: Amounts falling due within one year
13
Net current assets
Net assets
Funds of the charity:
Restricted income funds
Restricted funds
14
Unrestricted income funds
Unrestricted funds
Total funds
14		 2025
£
488,824
11,151
170,372
181,523
(7,204)
174,319
663,143
482,518
180,625		 2025
£
488,824
11,151
170,372
181,523
(7,204)
174,319
663,143
482,518
180,625		 2024
£
506,232
17,225
175,188
192,413
(6,064)
186,349
692,581
800
691,781
692,581
SIGNED SECURELY
10/07/2026 at 6:47:31 AM UTC
663,143 692,581
SIGNED SECURELY
10/07/2026 at 6:47:31

The financial statements on pages 11 to 21 were approved by the trustees, and authorised for issue on .................... and signed on their behalf by:

SIGNED SECURELY

10/07/2026 at 6:47:31 AM UTC

.........................................

Lawrence Frank Williams Trustee

The notes on pages 13 to 21 form an integral part of these financial statements. Page 12

Wade Street Church, Lichfield (United Reformed and Baptist)

Notes to the Financial Statements for the Year Ended 31 December 2025

1 Accounting policies

Statement of compliance

These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the 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) (Charities SORP (FRS 102)) and the Charities Act 2011.

Basis of preparation

Wade Street Church, Lichfield (United Reformed and Baptist) meets the definition of a public benefit entity under FRS 102. The accounts (financial statements) have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts.

Going concern

The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern.

Income and endowments

Voluntary income including donations, gifts, legacies and grants that provide core funding or are of a general nature is recognised when the charity has entitlement to the income, it is probable that the income will be received and the amount can be measured with sufficient reliability.

Donations and legacies

Donations and legacies are recognised on a receivable basis when receipt is probable and the amount can be reliably measured.

Income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers.

Grants receivable

Grants are recognised when the charity has an entitlement to the funds and any conditions linked to the grants have been met. Where performance conditions are attached to the grant and are yet to be met, the income is recognised as a liability and included on the balance sheet as deferred income to be released.

Other trading activities

Income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.

Investment income

Dividends are recognised once the dividend has been declared and notification has been received of the dividend due.

Expenditure

All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use. Other support costs are allocated based on the spread of staff costs.

Page 13

Wade Street Church, Lichfield (United Reformed and Baptist)

Notes to the Financial Statements for the Year Ended 31 December 2025 (continued)

Charitable activities

Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.

Government grants

Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income.

Taxation

The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.

Tangible fixed assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other recognised gains and losses, unless it reverses a charge for impairment that has previously been recognised as expenditure within the statement of financial activities. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other recognised gains and losses, except to which it offsets any previous revaluation gain, in which case the loss is shown within other recognised gains and losses on the statement of financial activities.

Depreciation and amortisation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class Depreciation method and rate
Freehold 2% reducing balance
Fixtures & Fittings 25% reducing balance

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.

For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the charity are assigned to those units.

Page 14

Wade Street Church, Lichfield (United Reformed and Baptist)

Notes to the Financial Statements for the Year Ended 31 December 2025 (continued)

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the charity will not be able to collect all amounts due according to the original terms of the receivables.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade creditors

are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Statement of Financial Activities over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the charity has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Fund structure

Unrestricted income funds are general funds that are available for use at the trustees discretion in furtherance of the objectives of the charity.

Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment.

Restricted funds are subjected to restrictions on their expenditure declared by legal undertakings, the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds

Financial instruments

Classification

A financial asset or a financial liability is recognised only when the charity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs.

Page 15

Wade Street Church, Lichfield (United Reformed and Baptist)

Notes to the Financial Statements for the Year Ended 31 December 2025 (continued)

Recognition and measurement

Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted

Impairment

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised under the appropriate heading in the statement of financial activities in which the initial gain was recognised.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised under the appropriate heading in the statement of financial activities in which the initial gain was recognised.

Any reversals of impairment are recognised immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

Debt instruments

Debt instruments are subsequently measured at amortised cost.

Investments

Where investments in shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in income and expenditure. All other such investments are subsequently measured at cost less impairment.

Derivative financial instruments

Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Fair value measurement

Other financial instruments are subsequently measured at fair value, with any changes recognised in the statement of financial activities, with the exception of hedging instruments in a designated hedging relationship.

Reserves policy

The trustees aim to maintain unrestricted reserves at a level sufficient to:

Reserve levels are reviewed regularly in light of anticipated expenditure, ministry priorities and future capital commitments, specifically

Page 16

Wade Street Church, Lichfield (United Reformed and Baptist)

Notes to the Financial Statements for the Year Ended 31 December 2025 (continued)

2 Income from donations and legacies

Donations and legacies;
Legacies
Grants, including capital grants;
Grants from other charities
Total for 2025
Total for 2024
3
Income from other trading activities
Trading income;
Other trading income
Total for 2025
Total for 2024
4
Investment income
Interest receivable and similar income;
Interest receivable on bank deposits
Total for 2025
Total for 2024		 Unrestricted
funds
General
£
228,539
-
228,539
232,658
Unrestricted
funds
General
£
30,548
30,548
29,978		 Restricted
funds
£
29,260
3,970
33,230
22,494
Restricted
funds
£
6,490
6,490
800
Unrestricted
funds
General
£
3,158
3,158
4,562		 Total
funds
£
257,799
3,970
261,769
255,152
Total
funds
£
37,038
37,038
30,778
Total
funds
£
3,158
3,158
4,562

Page 17

Wade Street Church, Lichfield (United Reformed and Baptist)

Notes to the Financial Statements for the Year Ended 31 December 2025 (continued)

5 Expenditure on charitable activities

Note
Operating costs
Depreciation, amortisation and other similar costs
Staff costs
Total for 2025
Total for 2024		 Unrestricted
funds
General
£
159,805
7,249
115,476
282,530
305,239		 Restricted
funds
£
38,714
10,159
-
48,873
-		 Total
funds
£
198,519
17,408
115,476
331,403
305,239

6 Net incoming/outgoing resources

Net outgoing resources for the year include:
Loss on disposal of fixed assets held for the charity's own use
Depreciation of fixed assets		 2025
£
3,387
14,021		 2024
£
-
15,075

7 Trustees remuneration and expenses

No Trustee received remuneration from the church for their roles as Trustees. The Minister. who is also a Trustee received remuneration and expenses for her role as the full-time minister of the church.

Page 18

Wade Street Church, Lichfield (United Reformed and Baptist)

Notes to the Financial Statements for the Year Ended 31 December 2025 (continued)

8 Staff costs

The aggregate payroll costs were as follows:

Staff costs during the year were:
Wages and salaries
No employee received emoluments of more than £60,000 during the year		 2025
£
115,476		 2024
£
122,142

9 Taxation

The charity is a registered charity and is therefore exempt from taxation.

10 Tangible fixed assets

Cost
At 1 January 2025
Disposals
At 31 December 2025
Depreciation
At 1 January 2025
Charge for the year
Eliminated on disposals
At 31 December 2025
Net book value
At 31 December 2025
At 31 December 2024
11 Debtors
Trade debtors
Prepayments
Accrued income
Other debtors		 Land and
buildings
£
742,524
(29,027)
713,497
248,880
10,159
(25,640)
233,399
480,098
493,644		 Land and
buildings
£
742,524
(29,027)
713,497
248,880
10,159
(25,640)
233,399
480,098
493,644		 Furniture and
equipment
£
162,461
-
162,461
149,873
3,862
-
153,735
8,726
12,588
2025
£
836
7
10,090
218
11,151		 Furniture and
equipment
£
162,461
-
162,461
149,873
3,862
-
153,735
8,726
12,588
2025
£
836
7
10,090
218
11,151		 Total
£
904,985
(29,027)
875,958
398,753
14,021
(25,640)
387,134
488,824
506,232
2024
£
1,273
1,457
14,495
-
162,461
149,873
3,862
-
233,399 153,735
480,098 8,726
493,644 12,588
2025
£
836
7
10,090
218
11,151
17,225

Page 19

Wade Street Church, Lichfield (United Reformed and Baptist)

Notes to the Financial Statements for the Year Ended 31 December 2025 (continued)

12 Cash and cash equivalents

Cash at bank
13 Creditors: amounts falling due within one year
Trade creditors
Other taxation and social security
Accruals		 2025
£
170,372
2025
£
4,271
1,133
1,800
7,204		 2024
£
175,188
2024
£
1,244
4,820
-
6,064

14 Funds

Unrestricted funds
General
General funds
Restricted funds
Baseball Camp
Causeway
Funerals
LCSWT
WSWW
Improvements
Church & Manse
Total restricted funds
Total funds		 Balance at 1
January
2025
£
691,781
800
-
-
-
-
-
-
800
692,581		 Incoming
resources
£
262,245
2,299
230
370
7,750
25,101
3,970
-
39,720
301,965		 Resources
expended
£
(282,530)
(1,029)
(230)
(370)
(7,400)
(25,715)
(3,970)
(10,159)
(48,873)
(331,403)		 Transfers
£
(490,871)
-
-
-
-
614
-
490,257
490,871
-		 Balance at
31
December
2025
£
180,625
2,070
-
-
350
-
-
480,098
482,518
663,143

Page 20

Wade Street Church, Lichfield (United Reformed and Baptist)

Notes to the Financial Statements for the Year Ended 31 December 2025 (continued)

Unrestricted funds
General
General funds
Restricted
Baseball Camp
Total funds		 Balance at 1
January 2024
£
707,328
-
707,328		 Incoming
resources
£
267,198
23,294
290,492		 Resources
expended
£
(282,745)
(22,494)
(305,239)		 Balance at 31
December
2024
£
691,781
800
692,581

The transfers between restricted and unrestricted funds relate to the unrestricted fund funding part of the restricted fund.

15 Analysis of net assets between funds

Tangible fixed assets
Current assets
Current liabilities
Total net assets
Tangible fixed assets
Current assets
Current liabilities
Total net assets		 Unrestricted
funds
General
£
8,726
179,103
(7,204)
180,625
Unrestricted
funds
General
£
506,232
191,613
(6,064)
691,781		 Restricted
funds
£
480,098
2,420
-
482,518
Restricted
funds
£
-
800
-
800		 Total funds at
31 December
2025
£
488,824
181,523
(7,204)
663,143
Total funds at
31 December
2024
£
506,232
192,413
(6,064)
692,581

Page 21

Wade Street Church, Lichfield (United Reformed and Baptist)

Statement of Financial Activities by fund for the Year Ended 31 December 2025

Income and Endowments from:
Donations and legacies
Other trading activities
Investment income
Total income
Expenditure on:
Charitable activities
Total expenditure
Net expenditure
Gross transfers between funds
Net movement in funds
Reconciliation of funds
Total funds brought forward
Total funds carried forward		 Total
Unrestricted
Funds
2025
£
228,539
30,548
3,158
262,245
(282,530)
(282,530)
(20,285)
(490,871)
(511,156)
691,781
180,625		 Total
Unrestricted
Funds
2024
£
232,658
29,978
4,562
267,198
(305,239)
(305,239)
(38,041)
22,494
(15,547)
707,328
691,781

This page does not form part of the statutory financial statements. Page 22

Wade Street Church, Lichfield (United Reformed and Baptist)

Statement of Financial Activities by fund for the Year Ended 31 December 2025 (continued)

Income and Endowments from:
Donations and legacies
Other trading activities
Total income
Expenditure on:
Charitable activities
Total expenditure
Net (expenditure)/income
Gross transfers between funds
Net movement in funds
Reconciliation of funds
Total funds brought forward
Total funds carried forward		 Total
Restricted
Funds
2025
£
33,230
6,490
39,720
(48,873)
(48,873)
(9,153)
490,871
481,718
800
482,518		 Total
Restricted
Funds
2024
£
22,494
800
23,294
-
-
23,294
(22,494)
800
-
800

This page does not form part of the statutory financial statements. Page 23

Wade Street Church, Lichfield (United Reformed and Baptist)

Detailed Statement of Financial Activities for the Year Ended 31 December 2025

Income and Endowments from:
Donations and legacies (analysed below)
Other trading activities (analysed below)
Investment income (analysed below)
Total income
Expenditure on:
Charitable activities (analysed below)
Total expenditure
Net expenditure
Net movement in funds
Reconciliation of funds
Total funds brought forward
Total funds carried forward		 Total
2025
£
261,769
37,038
3,158
301,965
(331,403)
(331,403)
(29,438)
(29,438)
692,581
663,143		 Total
2024
£
255,152
30,778
4,562
290,492
(305,239)
(305,239)
(14,747)
(14,747)
707,328
692,581

This page does not form part of the statutory financial statements. Page 24

Wade Street Church, Lichfield (United Reformed and Baptist)

Detailed Statement of Financial Activities for the Year Ended 31 December 2025 (continued)

Donations and legacies
Other donations and legacies (Restricted)
Legacies and bequests
Grants & collections
Improvement work grants - Restricted
Other trading activities
Events & tickets (restricted)
Room Hire & event income
Investment income
Interest on cash deposits
Charitable activities
Wages and salaries
Insurance
Premises running costs
Premises running costs
Meals & activities
Literature, materials, subscriptions & office costs
Donations
Restricted fund expenditure
Grants & collections
Sundry expenses and refreshments
Motor expenses
Training & conferences
Legal and professional fees
Bank charges
Depreciation of freehold property (restricted)
Depreciation of freehold property (unrestricted)
Depreciation of fixtures and fittings
(Profit)/loss on sale of tangible fixed assets held for charity's own use		 Total
2025
£
29,260
228,539
-
3,970
261,769
6,490
30,548
37,038
3,158
3,158
(115,476)
(3,567)
(3,970)
(54,912)
(9,637)
(28,229)
(25,312)
(34,744)
-
(8,677)
-
(17,878)
(11,593)
-
(10,159)
-
(3,862)
(3,387)
(331,403)		 Total
2024
£
-
218,250
14,408
22,494
255,152
800
29,978
30,778
4,562
4,562
(122,142)
(3,102)
-
(69,498)
(8,697)
(29,632)
(22,664)
-
(11,466)
(7,098)
(1,250)
(12,751)
(1,778)
(86)
-
(10,420)
(4,655)
-
(305,239)

This page does not form part of the statutory financial statements. Page 25