2024-12-31-accounts

WAYP OINT operat ing as

WAYPOINT CHURCH

(a charitable incorporated organisation)

TRUSTEES’ ANNUAL REPORT

and

AUDITED FINANCIAL STATEMENTS

31 December 2024

Charity registration number: 1168433

WAYPOINT operating as WAYPOINT CHURCH

(a charitable incorporated organisation)

CONTENTS

31 December 2024

Reference and administrative details Trustees’ Annual Report Statement of trustees’ responsibilities Audited financial statements: Independent auditor’s report Balance sheet Statement of financial activities Statement of cash flows Notes to the financial statements	Page 3 - 4 5 -12 13 14-17 18 19 20 21-40

2

WAYPOINT operating as WAYPOINT CHURCH

(a charitable incorporated organisation)

REFERENCE AND ADMINISTRATIVE DETAILS

31 December 2024

THE CHARITY

Registered name: Waypoint Operating name: Locks Heath Free Church to August 2019/ Waypoint Church from September 2019 Legal structure: Charitable Incorporated Organisation Operating address: 255 Hunts Pond Road, Titchfield Common, Fareham, Hampshire, PO14 4PG Registered charity number: 1168433 (England and Wales) Telephone number: 01489 579669 Website: www.waypointchurch.org.uk Email address: [e-mail]

BOARD OF TRUSTEES

Pastorate

Pastor (Team Leader): Jim Privett * Pastor Adam Roseblade * Other elected trustees Church Secretary: Felicity Shaw Church Treasurer: Sarah Mirzaians Facilities Team Leader: Paul Warner Peter Loughborough (appointed April 2024) Peter Wilkinson (appointed April 2024) John Brown (appointed April 2024) Charles Douglas (appointed November 2024) Andy Banes (resigned April 2024) Graham Griffiths (resigned April 2024) Rachel Keen (resigned February 2024) Kevin Leech (resigned April 2024) Emily Downing (resigned April 2024) Mark Palmer (resigned April 2024)

Hub & Community Team Leader: Claire Johnson * (resigned April 2024)

Elders

Andy Banes (resigned November 2024) Emily Downing Graham Griffiths Rachel Keen Kevin Leech Mark Palmer

Following the adoption of a new Constitution in April 2024, the Elders ceased being members of the Board of Trustees.

• Staff member

3

PROFESSIONAL ADVISERS

Bankers CAF Bank Ltd,

25 Kings Hill Avenue, Kings Hill, West Malling, Kent, ME19 4JQ

Auditor MC Audit Limited , Chartered Accountant and Statutory Auditor,

Station House, North St, Havant PO9 1QU

Solicitors Anthony Collins Solicitors LLP, 134 Edmund Street, Birmingham, B3 2ES

4

WAYPOINT

(a charitable incorporated organisation)

TRUSTEES’ ANNUAL REPORT

Year ended 31 December 2024

The Trustees have pleasure in submitting their annual report and the financial statements of Waypoint (the Church) as at and for the year ended 31 December 2024.

SECTION 1 – OBJECTIVES AND ACTIVITIES

Description of the Church’s Trust

The principal objective of the Church is the advancement of the Christian Faith according to the principles of the Baptist denomination including the advancement of education, community service and such other general charitable purposes in such parts of the United Kingdom and the world as the Church shall determine.

Aims

In order to achieve this objective, Waypoint provides a variety of activities both to its membership and to the community. The aim is to show the love of Jesus Christ and to bring people into a closer relationship with Him. In fulfilling this purpose, the Church engages in a range of activities either on its own or with others. Our Mission Statement is “Learning to live and love like Jesus”.

Strategies to achieve aims

Central to the work and witness of Waypoint is the provision of regular public services of Christian worship.

These services take place each Sunday and include preaching, teaching and Communion. A programme for children and young people aged 0-16 years is available during the service. There are also occasional All Age Services.

Waypoint has a deep passion for reaching the community and anybody is free to attend our services. Church services, events and activities are regularly advertised on our website at www.waypointchurch.org.uk.

Sunday services are held simultaneously for two congregations. There is a traditional-styled worship and a contemporary-styled worship both sharing the main Bible Reading and same sermon.

The service is usually streamed to the Church YouTube channel. Our channel has over 500 subscribers and the services are viewed by more than 100 people watching from local and international addresses.

Our streaming service developed at the time of Covid lockdowns and has proved a valuable resource to members and visitors to Waypoint.

5

WAYPOINT

(a charitable incorporated organisation)

TRUSTEES’ ANNUAL REPORT (continued)

Year ended 31 December 2024

Strategies to achieve aims (continued)

Waypoint runs life groups. These are small groups aimed at developing faith and discipleship and providing pastoral care. More than half of our attendees are in a Life Group and we hope to expand this in the coming years.

The Church leadership places great importance on reaching the local community in a variety of ways as can be seen from the activities undertaken set out below.

SECTION 1 – OBJECTIVES AND ACTIVITIES

Measurement of attainments

Although numbers do not reflect the spiritual strength of a church, they do give an indication of growth. During 2024, 25 people were received into membership and 3 people were baptised. The membership stood at 234 on 31 December 2024.

We hope to see the number of people attending Waypoint Church to increase but (and more difficult to measure) to see Christians deepening their Faith and following Christ’s teaching in all aspects of their lives.

The footfall of people crossing the threshold of Waypoint Church exceeds 800 in a typical week and The Waypoint Hub which includes a community pantry, foodbank, coffee lounge, Citizens Advice Bureau station and relational support assists over 120 families locally. We expect to see this number grow year on year.

The Trustees believe that 2024 was a positive year in the life of the Church.

Activities vary from time to time. Review of specific aims by the Leadership is made throughout the year with activities being initiated, expanded, or ended, as judged appropriate.

SECTION 2 – ACHIEVEMENTS AND PERFORMANCE

In addition to Sunday activities, Waypoint hosts Small Group Activities for our youth (“Connect”) and Waypoint Tots – a Tuesday morning event which is a community resource for babies and preschool children and their parents or carers.

Activities for senior citizens (“seniors”) are provided regularly. “Oasis” is a regular meeting sharing Faith Hope and Love and occasional afternoon teas. We welcome Seniors in a warm, loving and friendly environment.

Events were held during 2024 for our Members, attendees and the wider community which included a Summer Fun Day, Glow in the Dark Party and Summer and Christmas Craft Fayres.

Christmas services were held throughout December offering our congregation and community a variety of opportunities to celebrate Christmas with different styles of music and teaching.

6

WAYPOINT

(a charitable incorporated organisation)

TRUSTEES’ ANNUAL REPORT (continued)

Year ended 31 December 2024

SECTION 2 – ACHIEVEMENTS AND PERFORMANCE (continued)

Waypoint has a pastoral team that supports Church Members and attendees in times of difficulty. Their work fulfils our Mission “Learning to live and love like Jesus”.

Waypoint is dependent on its membership serving as volunteers in all aspects of the Church’s activities.

The Alpha Course runs for people who would like to explore the Christian faith. This is a welcoming small group designed to help anyone exploring ideas to answer the big questions about life in a safe and supportive environment.

We have a group called Kintsugi Hope. This runs a course designed for equipping people with skills to support and improve their mental health and wellbeing.

The Church runs a Golf Society and Football Team and encourages membership from within the Church and from the local community.

The Church supports three mission projects; Enable the Children in Sierra Leone, Rock Projects in Uganda and Hands at Work in South Africa. The Church supported a Church Member who was a missionary based in South Africa and working across countries in sub-Saharan Africa. Towards the end of the year we supported their transition back to the UK. The Church also supported Reality Outreach in their work to reach people through an evangelistic drama in various countries, and supported Open Doors in their work with persecuted Christians around the world. The Church sent some members out to build our relationship with Hands at Work in South Africa and to explore further partnership with them in Zimbabwe. The Church sent a member to Congo to explore mission opportunities there through family connections.

Many of our Church Members volunteer regularly in one, some or many ministries. It is through our volunteers that we stock and maintain and deliver food through Waypoint Hub. It is through our volunteers that we serve the “Seniors” within the Church and serve the Children and Young People. Our Café is staffed mainly by volunteers. Additionally, volunteers maintain the grounds, serve refreshments, keep the building up to standard, visit the sick and provide music or technical services for our Sunday Services and Events.

The Church supported the Baptist Union’s Missionary Society and Home Mission Fund as well. The Church supported emergency disaster appeals of Compassion in their work giving the gift of water to communities, Hands at Work in their drought appeal for South Africa, and Hope Now in their work in Ukraine during the war.

7

WAYPOINT

(a charitable incorporated organisation)

TRUSTEES’ ANNUAL REPORT (continued)

Year ended 31 December 2024

SECTION 2- ACHEIVEMENTS AND PERFORMANCE (continued)

Waypoint also supported Time for Marriage, a charity that offers support and resources to help renew and strengthen marriages. This team have been able to provide marriage support as needs arise. This team is used for pre-marriage work and to strengthen relationships. Sometimes it has been used to help couples experiencing relationship difficulty.

Church Members served as volunteers in many other local charities and organisations.

Rooms in the premises are hired by an independent pre-school, the NHS for blood donation services, the local council as a polling station and community groups and clubs. Waypoint hosted the 2024 Fareham Borough Council Mayor Investiture.

Waypoint Café is open for three days and one evening per week. This provides food, drink and wi-fi in a friendly environment. It is staffed by volunteers who are all appropriately trained in food hygiene and café policies.

Some of the team members within our ministries are paid but most members are volunteers.

Waypoint Hub (The Hub) has continued to grow and help increasing numbers of people in need, predominantly within the Western Wards of Fareham. Two drop-in sessions were held each week. Key services offered were:

• 1) A community pantry called ‘More 4 Less’ which is a donation-based scheme offering families the opportunity to shop for essential weekly groceries for a small payment.

• 2) a Foodbank giving out free emergency food parcels.

• 3) A coffee lounge and warm space offering people support, relationship, signposting to professional services, breakfast, and welcome.

• 4) The hosting of Citizens Advice who join weekly for advice and support on a no-appointment based scheme.

• 5) Sign-posting to other professional services.

On average in 2024 we supported 120 households each week, either using our pantry or foodbank, and gave out a total of 902 emergency food parcels.

The Hub’s foodbank provision is partnered with Trussell (formally known as Trussell Trust) and also works closely with local schools, local and county councils, Citizens Advice and other local statutory and voluntary organisations. Grant funding and donations of food and finances from trusts, local organisations, businesses and individuals in our church and the community continue to sustain this ministry.

The Hub is considered a key part of our local mission “Learning to live and love like Jesus” beyond the buildings of Waypoint.

8

WAYPOINT

(a charitable incorporated organisation)

TRUSTEES’ ANNUAL REPORT (continued)

Year ended 31 December 2024

SECTION 3 - FINANCIAL REVIEW

The financial results for the year, together with a summary of the accounting policies adopted are set out in the accompanying financial statements. The Church generated a surplus on General Fund operations of £43,204.91. The net movement in unrestricted funds for 2024 was a surplus of £43,204.91 (2023: £44,110).

The Church's total reserves at 31 December 2024 were £4,404,390.27 (2023: £4,345,386) of which the Waypoint Hub restricted fund was £70,755.36 (2023: £54,956). Designated funds related to the properties totalled £3,822,339.93 (2022: £3,919,998), the decrease relating to the buildings depreciation charge, partially offset by the value of capital repayments of the mortgage loan. This fund can only be realised by the disposal of the properties to which it relates.

The Church's reserves on general fund at the balance sheet date amounted to £511,294.98 compared with £370,432 at 31 December 2023. Liquid resources increased to £368,330.27 in 2024 from £298,431 at 31 December 2023.

It is the intention of the Church to hold a cash reserve equivalent to a minimum of six and a maximum of nine months' general running costs (including salaries and mortgage payments but excluding depreciation) to cover unforeseen emergencies.

The Waypoint Hub is a restricted income fund that provides food and other household necessities to the needy in the local community. The activity has grown since its inception from March 2020 and is funded by personal donations and grants (see Notes 11 and 12). Its total income in the year amounted to £114,711.07 (2023: £181,107) and its direct expenditure to £98,911.71 (2023: £161,395).

The Church's total reserves on general fund amount to £511,294.98 (2023: £370,432).

9

WAYPOINT

(a charitable incorporated organisation)

TRUSTEES’ ANNUAL REPORT (continued)

Year ended 31 December 2024

SECTION 3 - FINANCIAL REVIEW (continued)

The Trustees have made an assessment of the major risks facing the Church, and are satisfied that there are policies in place to minimise these risks.

The Church is dependent on its membership serving as volunteers in all aspects of the Church’s activities. The Trustees consider that it is impractical to place an economic value on such service.

SECTION 4 – PLANS FOR FUTURE PERIODS AND SUBSEQUENT EVENTS

Future commitments

Completion of the South Building was confirmed by Building Control inspectors in 2019. Certain finishing works outside the scope of Building Control regulations continued throughout 2020. The Church is continuing to fundraise for further fitting out works that are expected to cost around £280,000 but no firm timetable has been set for when these works are to be carried out. Completion of these works will enable the Church to provide further activities, courses and services for the Church congregation and for the community on its premises.

We recognise that hiring out our buildings is a helpful source of revenue and with that in mind, we have plans to upgrade the North Building Auditorium and the North Building Kitchen. The projects will only begin when we have identified financial resources to complete them.

We currently have regular bookings from community groups, dance and sports groups, an after school club and we hope to attract further interest.

Waypoint Café is currently open three days a week and one evening per week. We hope to extend these opening hours on these days and to add a fourth day in 2025. The limiting factor in this is the availability of our volunteers to serve.

As Waypoint grows in numbers (footfall and membership), we recognise the need to keep people connected and plan to do this by strengthening our Small Group structures[4] and to encourage discipleship pairing. The purposes of these strategies are to deepen the relationships between members and visitors and help them mature in their faith.

10

WAYPOINT

(a charitable incorporated organisation)

TRUSTEES’ ANNUAL REPORT (continued)

Year ended 31 December 2024

Legal structure

The Church is a Charitable Incorporated Organisation (CIO) which is governed by a Constitution that was filed with the Charity Commission on 26 July 2016 as part of the incorporation process. This constitution follows the model agreed by The Baptist Union Corporation of Great Britain and approved by the Church members in Special meeting. A revised constitution was enacted on 24[th] April 2024.

The Trustees are elected by a Special Church Members’ Meeting on a three-year rotation. The board of the elected Trustees is known as the Full Leadership Team and all operating decisions are made by them.

Governance concerning Church membership

Members of the Church are accepted in accordance with the Governing Constitution which requires them:

• to be or to have been publicly baptised on the profession of faith in Jesus Christ;

• or, following other modes of baptism to renew their public profession of faith in Jesus Christ; or,

• who may be considering baptism.

Members’ Meetings normally take place five times per year. The members’ meeting has responsibility for the overall policy of the Church. In accordance with the Constitution, the members appoint Elders and Trustees together with the Ministers (Pastors), Church Secretary and Treasurer, and collectively known as the Full Leadership Team, were responsible for the day-to-day running of the Church’s work and witness and for the financial and legal aspects of the Church until the adoption of a revised constitution in April 2024. The effect of this revised constitution has been to separate the functions of the eldership and the board of trustees, the former being responsible for the Church’s spiritual development and the latter responsible for the day-to-day management of the Church. As a result of this change, the elders are no longer Charity trustees.

All members are encouraged to take an appropriate part in the spiritual and practical tasks involved in furtherance of the Church’s aims.

Relevant matters may be submitted to the Church Meeting by the Trustees for guidance, or may be raised by members in Church Meetings for further consideration by the Trustees. Though the revised constitution permits important decisions to be made at quorate Church Meetings by appropriate majorities, the Church always seeks to work by consensus wherever if possible.

11

WAYPOINT

(a charitable incorporated organisation)

TRUSTEES’ ANNUAL REPORT (continued)

Year ended 31 December 2024

SECTION 5 – STRUCTURE, GOVERNANCE AND MANAGEMENT (continued)

Other governance matters

The Church is affiliated to the Baptist Union of Great Britain (the BU) and receives guidance from them on a range of regulatory matters which the Church implements as appropriate. However, the BU has no direct influence upon the operating policies of the Church.

All decisions are taken by Trustees who are accountable to the Church Meeting and work within agreed budgets.

The Church follows the Charity Commission guidance concerning the induction and training of Trustees.

Staff salaries including Ministers’ stipends are reviewed annually by a pay review committee formed of unremunerated Trustees and other Church Members and their deliberations are reported to the Trustees.

The Church operates a Safeguarding Policy and has put systems in place to ensure that all people working with those under 18 are appropriately vetted, and undergo the necessary Disclosure and Barring Service (DBS) checks. This policy also applies to people working with Adults at Risk.

The Church ensures good practice in First Aid, Food Safety and Food Hygiene by making training available.

The Church holds Insurance with the Baptist Insurance Company including Employer’s Liability Insurance.

12

Responsibilities relating to the financial statements

Law applicable to charities in England and Wales requires the Trustees to prepare financial statements for each accounting period which give a true and fair view of the Charity’s financial activities during the period and of its financial position at the end of the financial period. In preparing financial statements giving a true and fair view, the Trustees should follow best practice and:

• select suitable accounting policies and then apply them consistently;

• make judgements and estimates that are reasonable and prudent;

• state whether applicable UK Accounting Standards and recommended practice have been followed, subject to any material departures disclosed and explained in the financial statements;

• prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in operation.

Other responsibilities:

The Trustees are also responsible for:

• keeping adequate 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.

• safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

• the maintenance and integrity of the Charity and financial information included on the Charity’s website.

• the maintenance and integrity of the Charity and the financial information included on the Charity’s website.

• safeguarding children, young people and adults who may be at risk.

• safe data processing and storage under GDPR. Waypoint is registered with the ICO.

• human resources which includes the employment of nine people.

• entering into contracts for service and management of our facilities.

• health and safety of staff, volunteers and other visitors to Waypoint premises.

By order of the Board of Trustees,

…………………………………………………………………………

F Shaw (Dr)

Church Secretary

17/10/2025 Date………………………………………………………

13

To the Board of Trustees Waypoint, operating as Waypoint Church 255 Hunts Pond Road Titchfield Common, Fareham, Hampshire PO14 4PG

REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF WAYPOINT CHURCH

Opinion

We have audited the financial statements of Waypoint Church (the 'charity') for the year ended 31 December 2024 which comprise the Statement of Financial Activities, the Balance Sheet and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

• give a true and fair view of the state of the charity's affairs as at 31 December 2024 and of its incoming resources and application of resources, for the year then ended;

• have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

• have been prepared in accordance with the requirements of the Charities Act 2011.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other matter

The financial statements of Waypoint Church for the year ended 31 December 2023 were audited by another auditor who expressed an unmodified opinion on those statements on 8 October 2024

14

Other information

The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters where the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion:

• the information given in the Report of the Trustees is inconsistent in any material respect with the financial statements; or

• sufficient accounting records have not been kept; or

• the financial statements are not in agreement with the accounting records and returns; or

• we have not received all the information and explanations we require for our audit.

15

REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF WAYPOINT CHURCH

Responsibilities of trustees

As explained more fully in the Statement of Trustees' Responsibilities, the trustees are responsible for the preparation of the financial statements which give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.

Our responsibilities for the audit of the financial statements

We have been appointed as auditors under Section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

From discussion with management and those charged with governance information about the entity is documented to assess the activity within the organisation. We discuss management's assessment of risk in respect of irregularities, fraud and going concern.

Based on these discussions and our own assessments we determined that the key risk areas were income recognition in respect of cut off issues and management override concerning the size of the organisation.

We set financial statement materiality level based on the level of income. As a not for profit organisation raising income is its primary focus which is why income was used to determine the level of materiality. Our overall assessment of risk was used to determine performance materiality at an appropriate level.

Substantive audit tests were designed after assessing and performing walkthrough tests. The walkthrough testing confirmed documented systems which have been designed to act as a preventative measure against fraud and error which appear to be operating as documented. Substantive testing tested a sample of the population, representative of the population, to identify errors. The testing did not identify any material misstatements in areas tested.

16

Audit substantive tests concluded no material errors over the key risk areas of income recognition and management override.

The audit considers the organisation is not exposed to material risk of error as a result of assessing laws and regulations that are appropriate to the organisation.

Management assessed there is no going concern risk. The audit undertook a review of budgets, management accounts and the review of board minutes and came to the same conclusion as management.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors.

Use of our report

This report is made solely to the charity's trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity's trustees those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity's trustees as a body, for our audit work, for this report, or for the opinions we have formed.

Paul Underwood (Senior Statutory Auditor) For and behalf of MC Audit Limited Statutory Auditors Station House North Street Havant P J Underwood Hampshire P J Underwood (Oct 21, 2025 09:33:16 GMT+1) PO9 1QU

21/10/2025

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

17

WAYPOINT

(a charitable incorporated organisation) BALANCE SHEET 31 December 2024

WAYPOINT (a charitable incorporated organisation) BALANCE SHEET 31 December 2024
	Note		2024		2023
			£		£
FIXED ASSETS
Tangible assets	6		5,246,512.31		5,301,556.00
			—————————		—————————
CURRENT ASSETS
Debtors	7		51,728.79		30,780.00
Cash and cash equivalents			368,330.27		298,431.00
			—————————		—————————
Total current assets			420,059.06		329,211.00
LIABILITIES
Creditors: Amounts falling due within one year	8	-	60,943.29	-	53,021.00
			—————————		—————————
Net current assets			359,115.77		276,190.00
			—————————		—————————
Total assets, less current liabilities			5,605,628.08		5,577,746.00
Creditors: Amounts falling due after more
than one year	9	-	1,201,237.81	-	1,232,360.00
			—————————		—————————
NET ASSETS	23		4,404,390.27		4,345,386.00
			═════════		═════════
THE FUNDS OF THE CHARITY	10
Unrestricted funds			4,333,634.91		4,290,430.00
Restricted income funds			70,755.36		54,956.00
			—————————		—————————
TOTAL CHARITY FUNDS			4,404,390.27		4,345,386.00
		══════════════════════════
Approved by the Board of Trustees for issue on
and signed on its behalf by:

S Mirzaians

S Mirzaians (Oct 20, 2025 12:59:08 GMT+1) …………………………………… Treasurer S Mirzaians

The notes set out on pages 21 to 40 form part of these financial statements.

18

WAYPOINT

(a charitable incorporated organisation)

Statement of Financial Activities

(Incorporating an Income and
Expenditure Account)
31 December 2024			2024					2023
	Note	Unrestricted	Restricted	Total		Unrestricted		Restricted		Total
		£	£	£		£		£		£
INCOME FROM
Donations and legacies	11	480,100.79	93,711.07	573,811.86		402,218.00		107,515.00		509,733.00
Charitable activities	12	56,064.76	21,000.00	77,064.76		47,958.00		73,592.00		121,550.00
Other trading	13	34,110.77	-	34,110.77		27,896.00				27,896.00
Investments	14	4,195.96	-	4,195.96		2,776.00				2,776.00
		—————————	———————	—————————		—————————		———————		—————————
Total income		574,472.28	114,711.07	689,183.35		480,848.00		181,107.00		661,955.00
		—————————	———————	—————————		—————————		———————		—————————
EXPENDITURE ON
Charitable activities	15	407,735.68	98,911.71	506,647.39		357,851.00		161,395.00		519,246.00
Other trading	16	10,907.74	-	10,907.74		17,225.00				17,225.00
Other expenditure	19	112,623.95	-	112,623.95		104,956.00				104,956.00
Release of provision for
defined benefit pension
deficit no longer required		-	-	-	-	41,694.00		-	-	41,694.00
		—————————	———————	—————————		—————————		———————		—————————
Total expenditure		531,267.37	98,911.71	630,179.08		438,338.00		161,395.00		599,733.00
		—————————	———————	—————————		—————————		———————		—————————
NET OPERATING INCOME		43,204.91	15,799.36	59,004.27		42,510.00		19,712.00		62,222.00
		—————————	———————	—————————		—————————		———————		—————————
NET INCOME		43,204.91	15,799.36	59,004.27		42,510.00		19,712.00		62,222.00
TRANSFERS BETWEEN FUNDS	22			-		1,600.00	-	1,600.00		-
		—————————	———————	—————————		—————————		———————		—————————
NET MOVEMENT IN FUNDS		43,204.91	15,799.36	59,004.27		44,110.00		18,112.00		62,222.00
RECONCILIATION OF FUNDS
Total funds brought forward	10	4,290,430.00	54,956.00	4,345,386.00		4,246,320.00		36,844.00		4,283,164.00
		—————————	———————	—————————		—————————		———————		—————————
TOTAL FUNDS CARRIED FORWARD10		4,333,634.91	70,755.36	4,404,390.27		4,290,430.00		54,956.00		4,345,386.00

19

WAYPOINT

(a charitable incorporated organisation) STATEMENT OF CASH FLOWS 31 December 2024

WAYPOINT (a charitable incorporated organisation) STATEMENT OF CASH FLOWS 31 December 2024
		2024		2023
		£		£
Cash flows arising from charitable operating activities
Net operating income for the year (as per statement of
financial activities)		59,004.27		62,222.00
Adjustments for:
Depreciation charges and losses on disposal of tangible
fixed assets		77,624.93		83,673.00
Mortgage interest		97,658.07		97,388.00
Hire purchase and capital lease interest		-		265.00
Decrease in debtors		-	-	18,596.00
Increase in debtors	-	20,948.76		-
Increase/(decrease) in creditors		3,442.37		7,873.00
Pension provision no longer required		-	-	41,694.00
		————————		————————
Net cash provided by charitable operating activities		216,780.88		191,131.00
		————————		————————
Cash flows from investing activities
Refund re construction of South Building				-
Purchases of furniture and equipment	-	22,581.61	-	2,687.00
Proceeds of disposal of investment property				-
		————————		————————
Cash (used in) provided by investing activities	-	22,581.61	-	2,687.00
		————————		————————
Cash flows from financing activities
Deficiency contributions paid in respect of defined
benefit pension liability			-	12.00
Mortgage loan repayments	-	124,300.00	-	123,338.00
Hire purchase and capital lease payments		-	-	2,120.00
		————————		————————
Cash provided by (used in) finance activities	-	124,300.00	-	125,470.00
		————————		————————
Increase (decrease) in cash and
cash equivalents in the year		69,899.27		62,974.00
Cash and cash equivalents at the beginning of the year		298,431.00		235,457.00
		————————		————————
Cash and cash equivalents at the end of the year		368,330.27		298,431.00
	══════════════════════
Analysis of cash and cash equivalents
Cash in hand		100.00		804.00
Cash at bank on call		357,613.40		289,133.00
Cash on deposit at 60 days’ notice		10,616.87		8,494.00
		————————		————————
		368,330.27		298,431.00
	══════════════════════

20

WAYPOINT

(a charitable incorporated organisation) NOTES TO THE FINANCIAL STATEMENTS 31 December 2024

NOTE 1 — LEGAL STATUS, OBJECTIVES AND AFFILIATION OF WAYPOINT

Waypoint (the Church) is a charitable incorporated organisation (CIO) incorporated in

• 255 Hunts Pond Road, Fareham, PO14 4PG and is governed by a constitution with the objects to:

• fulfil the role of a Christian Church in the Western Wards of Fareham, Hampshire an d surrounding area, and

• provide help to others promoting the Christian faith in the UK and overseas.

The Church is a Public Benefit Entity within the meaning of FRS 102 and is a member church of the Baptist Union of Great Britain (BUGB), an unincorporated charitable trust registration no. 1125912.

NOTE 2 - ACCOUNTING FRAMEWORK AND COMPLIANCE

The financial statements have been set out in accordance with the accounting framework required under:

• the Charities (Accounts and Reports) Regulations 2008;

• the accounting regulations set out under the Charities Act 2011;

• Financial Reporting Standard 102 (FRS 102);

• the Statement of Recommended Practice (the SORP).

There were no material departures from those standards.

NOTE 3 —NATURE AND PURPOSE OF PRINCIPAL FUNDS

The principal designated and restricted funds are as follows:

Designated funds

• (a) Functional premises - funds representing the carrying value of the North and South buildings, net of related mortgage loan.

21

WAYP OINT (a charitable incorporated organisation) NOTES TO THE FINANCIAL STATEMENTS

31 December 2024

NOTE 3 — NATURE AND PURPOSE OF PRINCIPAL FUNDS (continued)

(b) Waypoint Hub – for the provision of social welfare including food, clothing and other essentials to the needy in the local community funded by local authority and community grants; corporate and personal donations; and contributions from beneficiaries.

NOTE 4 — ACCOUNTING POLICIES

The principal accounting policies adopted in the preparation of these financial statements set

out below have remained unchanged from the previous year and been consistently applied in[the year under review. ]

(a) Basis and content of the financial statements

The financial statements have been prepared on the basis of historical cost.

The financial statements are expressed in pounds Sterling rounded to the nearest pound and include all the assets and liabilities under the control of the Trustees of the Church.

(b)

Going concern

The Church’s financial statements are prepared on the going concern basis of accounting unless the Trustees intend to cease operations or have no realistic alternative but to do so. In assessing whether the going concern basis of accounting is appropriate, the Trustees take into account all available information about the future, which is at least, but not limited to, twelve months from the date the financial statements are authorised for issue.

(c) Tangible fixed assets and depreciation

Functional freehold properties

The Church premises have been capitalised at cost (estimated where actual cost information is no longer available) and are being depreciated over their economic lives at 1% straight line p.a. from the date the properties were first brought into use.

Sums considered to represent significant enhancement expenditures but which do not extend the useful lives of the buildings are capitalised and depreciated over the remainder of the original term. Expenditures on bringing the properties and facilities up

to a modern acceptable standard are charged to the Statement of Financial Activities (SOFA) as incurred.

22

WAYPOINT (a charitable incorporated organisation) NOTES TO THE FINANCIAL STATEMENTS 31 December 2024

NOTE 4 — ACCOUNTING POLICIES (continued)

Furniture, fittings and equipment

Individual items of furniture, fittings and equipment costing not less than £750 (2023: £500) or groups of items (such as seating) costing in total not less than £2,000 are capitalised and depreciated over their estimated economic lives at rates between 6.7% and 25% on a straight-line basis from the date the assets are brought into use. Lesser sums are charged to the SOFA as incurred.

Impairment losses

Any impairment provision considered necessary against the carrying value of functional properties or furniture, fittings and equipment is charged to the SOFA in the accounting period in which the impairment loss is recognised.

(d) Debtors

Gift Aid recoverable represents amounts due from HM Revenue & Customs in relation to eligible donations made before the balance sheet date.

Debtors are initially recognised at the amount expected to be recovered, which is equivalent to cost, and are subsequently reviewed for recoverability at each reporting date.

Prepayments are recorded for the proportion of the time-based expenditures attributable to the ensuing year.

(e) Cash and cash equivalents

Cash and cash equivalents comprise the amounts held in bank current accounts and cash in hand together with bank deposits on less than 90 days’ notice at the balance sheet date.

23

WAYPOINT (a charitable incorporated organisation) NOTES TO THE FINANCIAL STATEMENTS 31 December 2024

(g) Liabilities

1 Generally

Liabilities are recognised as soon as an outflow of economic benefits is considered more likely than not to occur under a legal or constructive obligation committing the Church to pay out resources. Creditors that are current liabilities, other than the Church’s defined benefit commitment to the Baptist Pension Scheme, are recognised at the settlement amount expected to be paid at the balance sheet date.

2 Deferral of income

Income received in advance of the provision of related goods or services, or which does

not meet the recognition criteria at the balance sheet date under FRS 102 and the

Charities SORP (FRS 102), is deferred and recognised as a current liability

3 Defined benefit pension contributions

A minister was a participant in a section of the Baptist Pension Scheme until ceasing to act effective 31 July 2021. This scheme is a multi-employer scheme that provided defined benefit (DB) pensions up to 31 December 2011 when the Scheme was closed to future DB accrual. Since the Church no longer has a member in the Scheme, in accordance with the Scheme rules a ‘cessation event’ has been triggered. As a consequence, it is required that an annuity is purchased that meets the Church’s employer debt. The Church had provided for the whole cost of this debt including the professional fees related thereto as notified by the Scheme trustee as at 31 December 2023. However, other factors notified by the Scheme are likely to eliminate this liability in its entirety. Fuller details of the circumstances are provided in Note 27.

(h) Funds

Tithes, donations and grants received for non-specific purposes or general funding are available for utilisation at the discretion of the Trustees and are dealt with through the General Fund.

Certain designated funds have been created by the Trustees to ring-fence resources that are (1) not considered to be readily expendable or (2) held for specific nonrestricted future purposes.

Grants and donations received for specific charitable projects are treated as restricted income funds available only for use on such specified projects. Restricted fund deficits are carried forward provided the Trustees are satisfied that future funding will cover such deficits on a last-in-first-out basis.

24

WAYPOINT

(a charitable incorporated organisation) NOTES TO THE FINANCIAL STATEMENTS 31 December 2024

NOTE 4 — ACCOUNTING POLICIES (continued)

(i) Contingencies

1 Contingent assets

Contingent assets (including reductions to known recorded liabilities) are not recognised in the financial statements unless the benefit is virtually certain to be obtained. Where an inflow of economic benefits is probable, a description of the nature of the contingent asset is made in the Notes to the Financial Statements together with an estimate of the financial effect where this is practical to ascertain. No disclosure is made of less certain contingent assets.

2 Contingent liabilities

A description of a possible but uncertain obligation or a present obligation that cannot be reliably estimated is made in the Notes to the Financial Statements providing where practical:

• an estimate of its financial effect;

• an indication of the uncertainties relating to the amount or timing of any outflow; and, the possibility of any reimbursement.

(j)

Income recognition

Income is brought into account when it is more likely than not that the economic benefit will accrue to the Church.

1 Tithes and donations

General tithes and donations received without pre-conditions attached are recognised on receipt. Gifts subject to performance-related or other conditions are recognised when such conditions are fulfilled and all the donors’ associated requirements concerning them have been complied with.

2 Grants receivable

A grant that becomes receivable on the occurrence of a specified event is recognised when that event has occurred and all the grantor’s requirements with it have been complied with.

3 Gift Aid

Tax refunds receivable under gift aid arrangements are recognised by reference to the date of the related gift. Gift aid recoverable on donations to trust and special funds is credited to the General Fund.

4 Legacies

Incoming resources from legacies are recognised when there is reasonable certainty that the legacy will be received and the value can be reliably measured.

25

WAYPOINT (a charitable incorporated organisation) NOTES TO THE FINANCIAL STATEMENTS 31 December 2024

NOTE 4 — ACCOUNTING POLICIES (continued)

(j) Income recognition (continued)

5 Other operating income

• Trading income is recorded separately from other income and is recognised as sales are made.

• Charges for hire of rooms and facilities to third parties are recognised in accordance with the period of letting per the related hire agreement.

6 Investment income

• Interest receivable is recognised in the period in which it was earned.

7 Gifts in kind and intangible income

Tangible assets received as gifts for use by the Church with a market value of not less than £750 (2023: £500) are treated as incoming resources at their actual or estimated value, including VAT where appropriate at the date the gift was made. Gifts of fixed assets are correspondingly capitalised in accordance with policy (c) above. Donated assets with a value of less than £750 (2023: £500) are not accounted for.

The estimated value of food and household consumables donated to the Waypoint Hub (see Note 3(c)) is recorded as voluntary income and an equal amount recorded as purchases of supplies. Donated facilities and services are recognised as incoming resources insofar as another party is bearing the financial cost of the resources supplied and the benefit is quantifiable and measurable. An equivalent cost is recorded under the appropriate expenditure caption in the SOFA.

The Church is dependent on its congregation serving as volunteers in a wide variety of Church activities. The value of volunteers’ time is not recognised in the financial statements since there is no measurable cost for their services.

26

WAYPOINT (a charitable incorporated organisation) NOTES TO THE FINANCIAL STATEMENTS 31 December 2024

(k) Expenditure

Expenditure is recognised when a liability is incurred or a constructive obligation arises that results in a payment being unavoidable or a commitment to pay that is intended to be acted upon.

1 Charitable grant expenditure and donations

Mission support contributions are made to organisations and individuals engaged in projects that the Church supports. Such contributions are recognised as expenditure at the earlier of payment or when they are communicated to the prospective recipient. The individual amounts defrayed, included in the Church life, outreach and mission caption in Note 16, are disclosed only when they are considered to be material in the context of the Church’s overall charitable activities.

2 Payroll cost

Payroll cost includes the gross salaries, employer’s national insurance and pension contributions of Church ministers and staff. Staff termination costs are recognised at the contractual date of severance.

3 Fundraising and publicity costs

The Church does not engage in making formal appeals outside the Church congregation that involve incurring significant costs to generate the related income. The Church has applied for grants from outside sources towards the Waypoint Hub but no external costs are incurred in making such applications.

4 Material expenditure

Where it is necessary to provide an understanding of the Church’s financial results, the nature of expenditure (including reversals of expenditure recorded in previous financial years) are recorded separately on the face of the SOFA.

5 Other expenditure

Insofar as it is necessary to disclose separately different elements of income, related expenditure is also disclosed separately.

6 Defined contribution pension arrangements

The Church operates defined pension contribution arrangements for ministers and certain staff. These contributions are charged as expenditure when they fall due and are invested separately from the Church’s assets.

27

WAYPOINT

(a charitable incorporated organisation) NOTES TO THE FINANCIAL STATEMENTS 31 December 2024

NOTE 4 — ACCOUNTING POLICIES (continued)

(k) Expenditure (continued)

7 Defined benefit pension arrangements

The present value (PV) of deficiency contributions required by the Scheme reduces the DB liability at PV carried in the balance sheet. The implicit finance cost representing the difference between deficiency contributions paid and their respective PVs is charged to the SOFA but this ceased to apply from 31 July 2021 when a cessation event occurred. Since then, the liability to purchase the required annuity was deferred in accordance with Scheme rules but deficiency contributions required by the Scheme continued until August 2023. Since then, the Scheme moved into a surplus position and deficiency contributions have been reduced to a nominal sum. See Note 28 for further details.

(l) Value added tax Since the Church is not registered for VAT, the cost of all input VAT charged to the Church is included with the expense to which it relates.

The Trustees consider that Church is the recipient of services for a relevant charitable purpose otherwise in the course or furtherance of business and, subject to the critical judgement explained in Note 5(a) continues to be entitled to zero-rating for VAT.

(m) Charitable support and administration

All central costs for charitable support and administrative charges are met from general funds. A charge has been made to Waypoint Hub for partial recovery of salary and occupancy costs borne by the General Fund (see Note 22).

(n) Corporation tax

The Church is exempted under tax legislation from liability to corporation tax on its operating surpluses, investment income or capital gains whilst it pursues its charitable objectives.

28

WAYPOINT (a charitable incorporated organisation) NOTES TO THE FINANCIAL STATEMENTS 31 December 2024

NOTE 5 – CRITICAL JUDGEMENTS AND ESTIMATION UNCERTAINTIES

Judgements

In preparing these financial statements, the only judgements that have been made in applying the Church’s accounting policies, other than estimation uncertainties (see below) that have a significant effect on the amounts recognised in the financial statements, are:

• (a) Consideration of possible impairment of functional freehold properties

The Trustees consider that the North and South Buildings each meet their intended service potential expectations and, accordingly, in their judgement the value in use of these premises to the Church is not impaired at 31 December 2024.

Estimation uncertainties

The key sources of estimation uncertainty that represent a significant risk to the carrying value of assets and liabilities within the next financial year are:

(a) Depreciation of freehold buildings

• Freehold properties other than freehold land are depreciated over their estimated useful lives as stated in accounting policy Note 4(c) taking into account factors affecting operating longevity, regular maintenance programmes and residual values where appropriate. The Church’s policy is to write off the construction cost of functional Church buildings over 100 years. However, this policy is reviewed annually by the Trustees and may require re-assessment for factors such as technical innovation, building regulations and changes in user preferences that could affect the future charges for depreciation.

29

WAYPOINT

(a charitable incorporated organisation) NOTES TO THE FINANCIAL STATEMENTS 31 December 2024

Note 6: Tangible assets

Year ended 31 December 2024 Cost or valuation At beginning of year Additions during year At 31 December 2024 Depreciation At beginning of period Charge for year At 31 December 2024 Net book value At 31 December 2024 Year ended 31 December 2023 Cost or valuation At beginning of year Additions during year At 31 December 2023 Depreciation At beginning of period Charge for year At 31 December 2023 Net book value At 31 December 2023	Functional freehold properties £ 5,681,146.00 ———————————— 5,681,146.00 ———————————— 497,482.00 53,402.09 ———————————— 550,884.09 5,130,261.91 5,681,146.00 5,681,146.00 ———————————— 441,364.00 56,118.00 ———————————— 497,482.00 5,183,664.00	Furniture, fittings & equipment £ 254,113.00 22,581.61 ———————————— 276,694.61 ———————————— 136,221.00 24,223.21 ———————————— 160,444.21 116,250.40 251,426.00 2,687.00 254,113.00 ———————————— 108,666.00 27,555.00 ———————————— 136,221.00 117,892.00	Total £ 5,935,259.00 22,581.61 ————————— 5,957,840.61 ————————— 633,703.00 77,625.30 ————————— 711,328.30
			5,246,512.31
			5,932,572.00
			5,935,259.00 ————————— 550,030.00 83,673.00 ————————— 633,703.00
			5,301,556.00

The mortgage loan facility described in Note 9 is secured by a first legal mortgage and charge dated 20 June 2018 against the Church’s functional freehold properties that have a combined carrying value at 31 December 2024 and 31 December 2023 of £5,130,261.91 and £5,183,664 respectively.

30

WAYPOINT

(a charitable incorporated organisation) NOTES TO THE FINANCIAL STATEMENTS 31 December 2024

NOTE 7 — DEBTORS:

Gift Aid tax recoverable Prepayments NOTE 8 — CREDITORS: Amounts falling due within one year Short term portion of: Mortgage loan Defined benefit pension liability Suppliers’ accounts payable Taxation and social security Other creditors Accrued charges	2024 2023 £ £ 47,467.71 26,211.00 4,261.08 4,569.00
	51,728.79 30,780.00
	2024 2023 £ £ 35,784.74 31,305.00 - 11.00 3,029.63 6,279.00 2,517.78 5,474.00 901.61 877.00 18,709.53 9,075.00
	60,943.29 53,021.00

31

WAYPOINT

(a charitable incorporated organisation) NOTES TO THE FINANCIAL STATEMENTS 31 December 2024

NOTE 9 – CREDITORS:

Amounts falling due after more than one year

Long term portion of: Mortgage Loan These long term liabilities fall due: - between the second and fifth years inclusive - after more than five years	2024 2023 1,201,237.81 1,232,360.00
	1,201,237.81 1,232,360.00
	149,632.32 147,636.00 1,051,605.49 1,084,724.00
	1,201,237.81 1,232,360.00

The assets pledged as security for the mortgage loan are described at the foot of Note 6.

NOTE 10 – MOVEMENTS ON FUNDS

NOTE 10 – MOVEMENTS ON FUNDS
	Funds						Funds
	brought	Incoming		Resources		Fund	carried
	forward	resources		expended		transfers	forward
	£	£		£		£	£
Year ended 31 December 2024
Unrestricted funds
General fund	370,432.00	574,472.28	-	433,609.30		-	511,294.98
Designated funds:
Functional premises	3,919,998.00	-	-	97,658.07		-	3,822,339.93
	————————————————————————				—————————————————
	4,290,430.00	574,472.28	-	531,267.37		-	4,333,634.91
Restricted income fund
Waypoint Hub	54,956.00	114,711.07	-	98,911.71		-	70,755.36
	————————————————————————				—————————————————
	4,345,386.00	689,183.35	-	630,179.08		-	4,404,390.27
	══════════════════════════════════════════════════════
Year ended 31 December 2023
Unrestricted funds
General fund	296,153.00	480,848.00	-	382,220.00	-	24,349.00	370,432.00
Designated funds:
Functional premises	3,950,167.00	-	-	56,118.00		25,949.00	3,919,998.00
	————————————————————————				—————————————————
	4,246,320.00	480,848.00	-	438,338.00		1,600.00	4,290,430.00
Restricted income fund
Waypoint Hub	36,844.00	181,107.00	-	161,395.00	-	1,600.00	54,956.00
	————————————————————————				—————————————————
	4,283,164.00	661,955.00	-	599,733.00		-	4,345,386.00
	══════════════════════════════════════════════════════

Reason for fund transfers:

Last year, one of the grants received by the Hub included a specific allocation of £1,600 towards payroll costs. Since these costs are covered by the Church rather than the Hub, the Hub transferred the £1,600 to the Church as a contribution towards the Hub leader’s salary.

32

WAYPOINT

(a charitable incorporated organisation) NOTES TO THE FINANCIAL STATEMENTS 31 December 2024

NOTE 11 — DONATIONS AND LEGACIES

Monetary offerings and donations Contributions received from beneficiaries Gift Aid tax refundable Estimated value of gifts in kind Building Fundraising NOTE 12 — INCOME FROM CHARITABLE ACTIVITIES Room hire Service user contributions Grants & donations received Church life, outreach and mission Children’s and youth ministries	2024 Unrestricted Restricted Total £ £ £ 367,804.90 32,882.69 400,687.59 - 31,893.17 31,893.17 59,056.79 - 59,056.79 - 28,935.21 28,935.21 53,239.10 - 53,239.10 480,100.79 93,711.07 573,811.86 2024 Unrestricted Restricted Total £ £ £ 50,490.32 - 50,490.32 488.50 - 488.50 - 21,000.00 21,000.00 2,215.09 - 2,215.09 2,870.85 - 2,870.85 56,064.76 21,000.00 77,064.76	2023 Unrestricted Restricted Total £ £ 338,316.00 53,867.00 392,183.00 - 26,191.00 26,191.00 61,402.00 - 61,402.00 2,500.00 27,457.00 29,957.00 - - -
		402,218.00 107,515.00 509,733.00
		2023 Unrestricted Restricted Total £ £ £ 35,326.00 - 35,326.00 297.00 - 297.00 - 73,592.00 73,592.00 7,928.00 - 7,928.00 4,407.00 - 4,407.00
		47,958.00 73,592.00 121,550.00

NOTE 13 – OTHER TRADING INCOME

NOTE 13 – OTHER TRADING INCOME
Waypoint Café sales Events Income Other Revenue Tots Subs	2024 Unrestricted Restricted Total £ £ £ 29,452.26 - 29,452.26 1,100.75 - 1,100.75 980.03 - 980.03 2,577.73 - 2,577.73 34,110.77 - 34,110.77	2023 Unrestricted Restricted Total £ £ £ 27,896.00 - 27,896.00 - - - - - - - - -
		27,896.00 - 27,896.00

NOTE 14 — INCOME FROM INVESTMENTS

Bank interest received	2024 Unrestricted Restricted Total £ £ £ 4,195.96 - 4,195.96 4,195.96 - 4,195.96	2023 Unrestricted Restricted Total £ £ £ 2,776.00 - 2,776.00
		2,776.00 - 2,776.00

33

WAYPOINT

(a charitable incorporated organisation) NOTES TO THE FINANCIAL STATEMENTS

31 December 2024

NOTE 15 — EXPENDITURE ON CHARITABLE ACTIVITIES

NOTE 15 — EXPENDITURE ON CHARITABLE ACTIVITIES
Payroll cost (Note 21) Ministers’ accommodation and expenses Occupancy costs (Note 17) Conferences, training and literature Office and general expenses (Note 18) Provision of supplies for Waypoint Hub Church life, outreach and mission Children’s and youth ministries Depreciation and loss on disposal of fixed assets	2024 Unrestricted Restricted Total £ £ £ 155,370.75 - 155,370.75 7,094.81 - 7,094.81 104,893.56 - 104,893.56 5,852.53 - 5,852.53 9,367.10 - 9,367.10 - 98,094.71 98,094.71 40,437.34 - 40,437.34 8,636.66 - 8,636.66 76,082.93 817.00 76,899.93	2023 Unrestricted Restricted Total £ £ £ 120,984.00 - 120,984.00 3,874.00 - 3,874.00 73,900.00 - 73,900.00 4,981.00 - 4,981.00 23,707.00 160.00 23,867.00 - 160,656.00 160,656.00 39,317.00 - 39,317.00 8,798.00 - 8,798.00 82,369.00 579.00 82,948.00
	407,735.68 98,911.71 506,647.39	357,930.00 161,395.00 519,325.00

NOTE 16 – OTHER TRADING EXPENSES

NOTE 16 – OTHER TRADING EXPENSES
Waypoint Café expenditure Purchases of café supplies Repairs, maintenance and equipment expensed Contribution to energy and payroll costs Bank and card charges Other Depreciation of equipment	2024 Unrestricted Restricted Total £ £ £ - - - - - - - - - - - - 10,182.74 - 10,182.74 725.00 - 725.00	2023 Unrestricted Restricted Total £ £ £ 10,700.00 - 10,700.00 937.00 - 937.00 3,600.00 - 3,600.00 381.00 - 381.00 882.00 - 882.00 725.00 - 725.00
	10,907.74 - 10,907.74	17,225.00 - 17,225.00

34

WAYPOINT

(a charitable incorporated organisation) NOTES TO THE FINANCIAL STATEMENTS 31 December 2024

NOTE 17 – ANALYSIS OF OCCUPANCY COSTS

NOTE 17 – ANALYSIS OF OCCUPANCY COSTS
Light, heat and power Water and sewerage Buildings insurance Building repairs and maint. Cleaning & consumable stores	2024 Unrestricted Restricted Total £ £ £ 48,303.67 - 48,303.67 1,826.98 - 1,826.98 7,768.12 - 7,768.12 33,306.30 - 33,306.30 13,688.49 - 13,688.49 104,893.56 - 104,893.56	2023 Unrestricted Restricted Total £ £ £ 33,275.00 - 33,275.00 1,520.00 - 1,520.00 6,358.00 - 6,358.00 16,987.00 - 16,987.00 15,760.00 - 15,760.00
		73,900.00 - 73,900.00

NOTE 18 – ANALYSIS OF OFFICE AND GENERAL EXPENSES

Printing, photocopying, stationery and postage Telephone and internet General insurance Equipment testing, repairs and servicing Equipment expensed Waste removal Subscriptions and licences Finance and management software Bank charges & interest Miscellaneous	2024 Unrestricted Restricted Total £ £ £ 2,349.32 - 2,349.32 2,853.25 - 2,853.25 - - - - - - - - - 967.55 - 967.55 1,912.63 - 1,912.63 546.75 - 546.75 554.51 - 554.51 183.09 - 183.09 9,367.10 - 9,367.10	2023 Unrestricted Restricted Total £ £ £ 2,394.00 - 2,394.00 923.00 - 923.00 1,300.00 - 1,300.00 5,161.00 - 5,161.00 6,163.00 - 6,163.00 2,003.00 - 2,003.00 3,300.00 - 3,300.00 1,644.00 - 1,644.00 185.00 - 185.00 634.00 160.00 794.00
		23,707.00 160.00 23,867.00

NOTE 19 – OTHER EXPENDITURE

NOTE 19 – OTHER EXPENDITURE
Accountancy fees Audit fees VAT consultancy & legal fees Finance costs (see Note 20) Sabbatical Caretaker Volunteer and staff appreciation Expenditure Postage, Freight & Courier Rental - Direct Costs Events Expenditure Other Events	2024 Unrestricted Restricted Total £ £ £ 2,634.00 - 2,634.00 7,200.00 - 7,200.00 222.00 - 222.00 97,658.07 - 97,658.07 710.00 - 710.00 318.35 - 318.35 960.41 - 960.41 43.05 - 43.05 11.44 - 11.44 2,850.08 - 2,850.08 16.55 - 16.55 112,623.95 - 112,623.95	2023 Unrestricted Restricted Total £ £ £ 2,878.00 - 2,878.00 2,600.00 - 2,600.00 1,188.00 - 1,188.00 98,290.00 - 98,290.00 - - - - - - - - - - - - - - - - - - - - -
		104,956.00 - 104,956.00

35

WAYPOINT

(a charitable incorporated organisation) NOTES TO THE FINANCIAL STATEMENTS 31 December 2024

NOTE 20 – FINANCE COSTS

NOTE 20 – FINANCE COSTS
Mortgage interest Hire purchase and capital lease interest	2024 Unrestricted Restricted Total £ £ £ 97,658.07 - 97,658.07 - - -	2023 Unrestricted Restricted Total £ £ £ 98,025.00 - 98,025.00 265.00 - 265.00
	97,658.07 - 97,658.07	98,290.00 - 98,290.00

NOTE 21 - PAYROLL AND STAFFING

Staff cost is analysed below according to staff members’ main duties set out in their contracts of employment.

Year ended 31 December 2024

Ministers Other staff Less: Employer’s NIC allowance Year ended 31 December 2023 Ministers Other staff Less: Employer’s NIC allowance	No. of staff 2 8 10 No. of staff 2 7 9	Gross Employers’ Pension wages & national contri- salaries insurance butions £ £ £ 68,743.36 6,976.04 798.40 78,965.39 2,310.86 2,576.70	Total £ 76,517.80 83,852.95
		147,708.75 9,286.90 3,375.10	160,370.75
		Gross Employers’ Pension wages & national contri- salaries insurance butions £ £ £ 47,300.00 4,625.00 1,750.00 68,384.00 2,125.00 1,720.00	5,000.00 -
			155,370.75
			Total £ 53,675.00 72,229.00
		115,684.00 6,750.00 3,470.00	125,904.00
			5,000.00 -
			120,904.00

The average number of full-time equivalent staff is 4.3 (2023: 4.3). No employee received emoluments (excluding employer pension costs) exceeding £60,000 p.a.

36

WAYPOINT (a charitable incorporated organisation) NOTES TO THE FINANCIAL STATEMENTS 31 December 2024

NOTE 22 – TRANSFER BETWEEN FUNDS

The following transfers were made from Waypoint Hub to the General Fund to partially recoup the salary and occupancy costs related to the Hub’s activities that were borne by the Church in the years ended 31 December 2023 and no transfers between funds were made during the year ended 31 December 2024.

Salary of Hub leader Occupancy of North building	2024 2023 £ £ - 1,600.00 - -
	- 1,600.00

NOTE 23 – ANALYSIS OF NET ASSETS BETWEEN FUNDS

NOTE 23 – ANALYSIS OF NET ASSETS	BETWEEN FUNDS
31-Dec-24
	Fixed		Net		Other	Net
	assets	current assets			liabilities	assets
	£		£		£	£
Unrestricted funds
General fund	113,643.40		315,001.30			428,644.70
Designated fund:
Functional freehold properties	5,130,261.91	-	35,784.74	-	1,201,237.81	3,893,239.36
	———————————————— ————————————————
	5,243,905.31		279,216.56	**- **	1,201,237.81	4,321,884.06
Restricted income fund
Waypoint Hub	2,607.00		79,899.21			82,506.21
	———————————————— ————————————————
FUNDS AT 31 DECEMBER 2024	5,246,512.31		359,115.77	**- **	1,201,237.81	4,404,391.00
	════════════════════════════════════════
31-Dec-23
	Fixed		Net		Other	Net
	assets	current assets			liabilities	assets
	£		£		£	£
Unrestricted funds
General fund	115,286.00		255,146.00			370,432.00
Designated fund:
Functional freehold properties	5,183,663.00	-	31,305.00	-	1,232,360.00	3,919,998.00
	———————————————— ————————————————
	5,298,949.00		223,841.00	**- **	1,232,360.00	4,290,430.00
Restricted income fund
Waypoint Hub	2,607.00		52,349.00			54,956.00
	———————————————— ————————————————
FUNDS AT 31 DECEMBER 2023	5,301,556.00		276,190.00	**- **	1,232,360.00	4,345,386.00
	════════════════════════════════════════

37

WAYPOINT (a charitable incorporated organisation) NOTES TO THE FINANCIAL STATEMENTS 31 December 2024

NOTE 24 – RELATED PARTY TRANSACTIONS

Certain individuals connected with Church trustees received reward for services or reimbursement of expenses from the Church during the year as follows:

Name of related party	Nature of relationship	Nature of provision	2024	2023
Mr A Banes*	Church trustee	Ministry Support	500.00		-

• Payable to Time For Marriage Ministry, a charitable company of which Mr A Banes is a Trustee.

No related party transactions occurred during the financial year 2023. For comparative information, related party transactions in 2022 are disclosed in the financial statements for that year.

NOTE 25 – TRUSTEES’ REMUNERATION, BENEFITS AND EXPENSES

As permitted by the Church’s governing document, certain trustees and persons connected with them received remuneration, benefits and reimbursement of expenses for employment services rendered in the year as follows:

Year ended 31 December 2024

Year ended 31 December 2024
Service rendered J Privett Pastor A Roseblade Pastor C Johnson Waypoint Hub leader P Griffiths Administrator H Palmer Administrator Year ended 31 December 2023 Service rendered J Privett Pastor A Roseblade Pastor C Johnson Waypoint Hub leader P Griffiths Administrator H Palmer Administrator	Gross Payments/ Total salary Accommodation Pension expenses £ £ £ £ £ 40,921.39 35,890.04 2,526.94 1,452.48 1,051.93 38,755.26 32,853.32 1,362.92 798.40 3,740.62 11,921.45 11,111.45 - 810.00 - 10,217.71 10,101.84 - 115.87 - 12,706.60 12,518.25 - 188.35 -
	114,522.41 102,474.90 3,889.86 3,365.10 4,792.55
	Gross Payments/ Total salary Accommodation Pension expenses £ £ £ £ £ 40,445.00 35,300.00 3,070.00 1,452.00 623.00 13,010.00 12,000.00 - 298.00 712.00 19,651.00 18,369.00 - 1,282.00 - 11,325.00 11,134.00 - 191.00 - 5,850.00 5,720.00 - 130.00 -
	90,281.00 82,523.00 3,070.00 3,353.00 1,335.00

• Spouse of trustee

38

WAYPOINT (a charitable incorporated organisation) NOTES TO THE FINANCIAL STATEMENTS 31 December 2024

NOTE 26 - REMUNERATION OF KEY MANAGEMENT PERSONNEL

The Trustees listed in Note 25 above excluding spouses of trustees comprise all the key management personnel. The total employee benefits received by them including employer’s national insurance amounted to £98,574.14 (2023: £77,645).

NOTE 27 - PENSION OBLIGATIONS

In the 2021 reporting period the employment of the Church’s sole active participant in the DB section of the Scheme was severed effective 31 July 2021 and, in accordance with the Scheme rules, a ‘cessation event’ was triggered. As a consequence, the rules required that an annuity be purchased that meets the Church’s employer debt and the whole cost thereof including professional fees related thereto as notified by the Scheme trustee was provided for at 31 December 2021, with a provision continuing at 31 December 2022.

A 2023 update by the Scheme confirmed that an agreement has been signed with a UK insurance company (the Provider) that specialises in ‘buying out’ pension scheme liabilities and the other associated risks. It was confirmed that at that point, as regards Waypoint, all liability relating to the scheme would end. On the basis of this information received from the Scheme’s trustee board, the Church trustees were satisfied that no further significant financial risk concerning the DB Scheme existed at the date of the 2023 report and, consequently the provision was released to the SOFA at 31 December 2023. In November 2024, it was confirmed that the scheme had been wound up at a surplus, and Waypoint had no further liability towards the scheme. As such, at 31 December 2024, we continue to hold no provision towards this scheme.

39

WAYPOINT

(a charitable incorporated organisation) NOTES TO THE FINANCIAL STATEMENTS 31 December 2024

NOTE 27 – PENSION OBLIGATIONS (continued)

The pension contributions borne by the Church in the year are:

The pension contributions borne by the Church in the year are:
DCs paid and payable in respect of employees in the year DB deficit recovery contributions paid in the year	2024 £ - - -	2023 £ 3,470.00 12.00
		3,482.00

The movements in the DB liability for the current and previous financial years are:

Balance at 1 January, Deficiency contributions paid in the year Provision for deficiency contributions payable in 2024 Release of provision for defined benefit pension deficit no longer required Liability for pension deficit at 31 December,	2024 - - - - -	2023 41,717.00 12.00 - 11.00 - 41,694.00 -
		-

NOTE 29 – GOING CONCERN

The Church constructed a building on land adjacent to the existing Church premises and arranged a commercial loan facility as part of the funding arrangements. In addition to the capital repayments, in 2022 the mortgage loan was further reduced by the net proceeds of sale of the Church’s investment property (see Note 6). An outstanding balance remains at 31 December 2024 of £1,237,022.55 (2023: £1,263,665).

The trustees consider the existing level of repayments to be affordable out of recurring income since planned giving of the Church congregation increased significantly in 2024 and into 2025.

At present the Church’s existing liquid resources supplemented by recurring tithes, offerings and other income in 2025 will be sufficient to meet Church outgoings for a period of at least twelve months from the date of issue of these financial statements.

Taking all known factors into account, the Trustees are satisfied that the Church will be a going concern for the foreseeable future.

40

Waypoint Church Charity Accounts - 31 December 2024 (Final)

Final Audit Report

2025-10-21

Created: 2025-10-17 By: Luke Hawes ([e-mail]) Status: Signed Transaction ID: CBJCHBCAABAALi4y7s2UukuF3VnBi-nXqYvLHf5b8xnd

"Waypoint Church Charity Accounts - 31 December 2024 (Final) " History

Document created by Luke Hawes ([e-mail])

2025-10-17 - 2:59:08 PM GMT- IP address: 86.137.145.202

Document emailed to [e-mail] for signature

2025-10-17 - 2:59:22 PM GMT

Email viewed by [e-mail]

2025-10-17 - 4:21:44 PM GMT- IP address: 145.40.187.215

• Signer [e-mail] entered name at signing as F R Shaw

2025-10-17 - 4:38:12 PM GMT- IP address: 145.40.187.215

• Document e-signed by F R Shaw ([e-mail])

Signature Date: 2025-10-17 - 4:38:14 PM GMT - Time Source: server- IP address: 145.40.187.215

Document emailed to [e-mail] for signature

2025-10-17 - 4:38:17 PM GMT

Email viewed by [e-mail]

2025-10-17 - 4:38:42 PM GMT- IP address: 172.186.8.157

Signer [e-mail] entered name at signing as S Mirzaians

2025-10-20 - 11:59:06 AM GMT- IP address: 82.71.63.113

Document e-signed by S Mirzaians ([e-mail])

Signature Date: 2025-10-20 - 11:59:08 AM GMT - Time Source: server- IP address: 82.71.63.113

Document emailed to [e-mail] for signature

2025-10-20 - 11:59:11 AM GMT

• Email viewed by [e-mail]

2025-10-20 - 4:34:28 PM GMT- IP address: 104.47.85.62

• Signer [e-mail] entered name at signing as P J Underwood

2025-10-21 - 8:33:14 AM GMT- IP address: 20.108.247.124

• Document e-signed by P J Underwood ([e-mail])

Signature Date: 2025-10-21 - 8:33:16 AM GMT - Time Source: server- IP address: 20.108.247.124

Agreement completed.

2025-10-21 - 8:33:16 AM GMT