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## CONTE NTS |Key Information|3| |---|---| |Governance and Management|4| |Our purpose|7| |Our values|8| |Welcome|10| |Strategic Report|11-12| |Website|13-14| |Funding|15-16| |Properties|17-18| |Days In|19-20| |Days Out|21-22| |Volunteering
|23-24| |Magazine|25| |The Walk Centre|26| |#The96HourChallenge|27-28| |High Sherif Award|29| |Royal Garden Party|30| |Churches and Partners|31-32| |We Are Men|33-34| |The Year Ahead|36| |Reserves Policy|37| |Financial Planning|37| |Financial Review|38| 2 ## K E Y INFO R M ATI O N ## Walk Ministries The Walk Centre Phoenix Street Tunstall ST6 5AH Organisation Type: Charitable Incorporated Organisation (CIO) Charity Number: 1168547 **Whoever follows me will never walk in darkness, but will have the light of life.** **-John 8:12** www.walkministries.org.uk info@walkministries.org.uk ## Trustees Richard Henry Kent Gompertz (chair) Howard Pickering Philip Jeremy Barber Peter Flynn Wayne Gough David Garratt Key Management @wearewalkuk ## Accountants Fortune Hart LTD Unit 14 Sugnall Business Centre Sugnall Stafford ST21 6NF ## Bankers Lloyds Bank ## **Governance and Management** The charity is governed by its CIO constitution document and was registered with the charity commission on 1st August 2016. Under the constitution the trustees must be appointed for a term of one year by a resolution passed at the trustee meeting. Trustees are recruited from those who have an interest in the work of the charity and have skills to benefit the charity ’s work. All trustees are briefed in the operation of the charity when appointed. The Chief Executive, Simon Edwards, has day to day responsibility for the running of the charity and is supported by a Senior Management team including, the Chief Operating Officer, Operations Managers, Finance Officer, and Administrations Manager. 7 Carter Street Simon Edwards (CEO) Karen Edwards (COO) Uttoxeter ST14 8HD The Chief Executive reports to the chair of the trustees and provides detailed updates at quarterly meetings, where they also receive comprehensive financial information. 4 3 &¢￿tI<￿TIvE JlJ5f/c 11 -*- f•if l) ste•ls rt C•conkt? E5FEL OM SOClhL IN(LUSION ETHO S11GW COthP4SS ION I￿G ISO COISISTÈfyC> FicTufE We all (Othe K 1/40vsI￿G WHtKt QO I WANTTO Co? ANITHI4G '1* I'vt le&fiwA fATirNcE NEVIIWY ## OUR P U RPOSE ## **Public Benefit Statement** The Trustees confirm that they have complied with the duty in section 17 of the Charities Act 2011 to have due regard to the Charity Commissions general guidance on public benefit, ‘Charities and Public Benefit‘. ## **Objectives and Activities** To promote the rehabilitation of released prisoners or individuals who are at risk of being imprisoned; to enable them to live a more structured life by such means as the trustees think fit including the provision of housing, training, advice, support, and counselling with a Christian ethos. HELPING MEN ON THEIR JOURNE Y TO FREEDOM ## OU R & HELPING THE CHURCH TO W ELCOME MEN HOME 7 **----- Start of picture text -----**
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## W E LCOM E Welcome to Walk Ministries Annual Report and Financial statements. We are excited to share our latest annual report, and hope you enjoy reading it. What a fantastic busy year we’ve had at Walk Ministries Throughout 2021/2022 Covid restrictions, social distancing and lockdowns have finally eased, whichis something that all of us at Walk, along with the rest of UK, are extremely pleased about. To be able to go about our daily operations without restrictions and to finally to be able to have a sense of freedom I think you’ll agree is simply wonderful. We remain committed to supporting released prisoners, and this continues to be our priority, working with them through the prison gate. Covid 19 has presented many ongoing and lasting challenges to those currently being released from prison. During Covid all activities in prisons were largely cancelled, with prisoners having to remain in the cells 24 hours a day. Many are still struggling with the effects of such severe isolation for months on end, and we are seeing an increase in prisoners being released on medication for mental health issues and requiring more specialist support. We continue to focus on improving the quality of our housing stock and developing The Walk Centre, creating spaces for both our staff and residents to work in, enjoy and learn new skills. As always we are so grateful to God for the journey he has us on and for giving us opportunities. 10 S T R AT EGI C R E PORT Our ac hi e ve me nts i n 2 02 1 /2 0 2 2 a nd the y e a r a he a d 9 1 % o f p r e v i o u s r e s i d e n t s a r e c u r r e n t l y o u t o f p r i s o n 5 1 % o f p r e v i o u s r e s i d e n t s a r e n o t u s i n g d r u g s o r a l c o h o l 9 4 % o f p r e v i o u s r e s i d e n t s a r e s t i l l on a f a i t h j o u r n e y 8 8 % o f p r e v i o u s r e s i d e n t s a r e i n s t a b l e a c c o m o d a t i o n 11 12 ## We b si t e L a u nc h ## This year we launched our new website. It reflects the rapid growth of Walk over the last few years but maintains the heart of who we are as a charity. The updated layout means that it is now easier to find out more about our charity and the work that we do. Our website is kept up to date with a newsfeed that keeps everyone informed of our latest activities. The new content consists of the testimonies and experiences of current and past residents, a meet the team feature page, and statistics of Walk’s achievements. One of the largest updates is a new section dedicated to explaining the journey through Walk. Beginning with the ‘journey in’, the website now clearly describes the referral process and general criteria for entering Walk. This continues to ‘the journey on‘, explaining the process through Walk and ‘the journey to‘ which describes the support all of our residents recieve as they complete the program. The section ends in a frequently asked questions page ensuring we are giving as much information as possible to prospective referrals. It is a privilege to see a website with the quality that Walk exhibits in its endeavours. We spent time constructing a design and layout that is cohesive with our branding, informative, and easy to navigate. 13 14 ## **Funding** We would like to thank all of the generous trusts and organisations who have provided funding to help cover the costs of operating Walk. ## **Core Costs** Funding of core costs helps to cover Walk‘s building upkeep including bills and rent/mortgage payments, staffing costs and maintenance projects. When our core costs are funded, this relieves financial pressure and allows us to put money into other projects which benefit our residents. ## **New Bikes** This year we recieved funding to buy eight brand new mountain bikes and safety equipment. The bikes have enabled our residents to engage in more outdoor exercise, which contributes to their mental and physical recovery. ## **Art Supplies** We were grateful to recieve funding to purchase art supplies which enables us to run a weekly art session at the detox and recovery homes. These sessions allow our residents to express themselves in new and creative ways and create artwork to represent where they are in their journey. We are blessed that our home city of Stoke-on-Trent has an abundance of green spaces; from the peaceful canal networks to the local lakes for the men to explore. Through their time spent cycling the men have been able to reflect, relax and make new friendships. **‘The art group helps me relax for an hour a week, creating things helps my brain calm down.’** 13 16 15 ## Proper ties In March we opened a new shared house and welcomed five mighty men into the brand new accomodation. The fully equipped open plan kitchen and living area has two fridges, cooking facilities, a 50” Smart TV, sofa’s, and a dining table. This creates a space for residents to socialise while they cook, eat, and relax in the evening. After joining us in either the detox or recovery home, residents move on to a shared home. It is estimated that each resident will spend between four months to a year at this part of their journey where together they learn to live as a family while taking part in a voluntary placement. With bright white walls and our signature navy blue colour scheme, the bedrooms in each property are a sanctuary for those quiet moments of peace, relaxation, and sleep. In addition to the shared home, we also opened two new flats for residents who are ready to move on from shared housing. Residents in flats are expected to live independently, including cooking meals, managing their finances and taking responsibility for daily life. **‘I have recently been employed full time and have moved into a one bed flat which has been beautifully decorated and refurbished. I love the place I live in and am really grateful to all Walk’s supporters for making this possible.’** ## **Furniture** We would like to thank the funders who have helped us to purchase furnishings for the homes. Each property recieves furniture for the bedroom and living space as well as kitchen appliances We believe that rehabilitation accomodation can and should be homely. The men in our care deserve to feel loved, appreciated, and valued. They deserve a comfortable home which they can be proud of. 18 17 ## GYM At The Walk Centre we have a private gym for residents use. The gym is fully equipped with weight machines, free weights, and cardio machines. The residents are encouraged to use the gym regularly to benefit their mental and physical health. ## BIBLE STUDIES We continue to hold weekly Bible Studies on a Thursday night. The residents from all stages of Walk gather together for praise, worship, and a message. ## **I n** Da y s GROUPS We run a variety of groups throughout the week at the centre and in the detox and recovery homes. Each group has a different purpose, some are creative outlets encouraging mindfulness, while others focus on the practical skills needed for recovery. ## FIRST AID COURSE In July, our residents participated in an emergency first aid course. They learned about the imporance of knowing life-saving first aid and put their knowledge to the test by practicing CPR, bandaging, and identifying medical emergencies. 20 19 In May we took a day trip to Llandudno. In the morning we enjoyed fellowship at Emmanuel Church. In the afternoon, we headed to Llandudno beach where our residents were treated to fish and chips on the pier and an afternoon at the seaside. In February we had a day of whitewater rafting. It was a great way to take time out and spend time together for staff and residents . We enjoyed an action-packed day of fun, laughter, and team building. ## Day s **O ut** On Fridays our residents enjoy long walks in various green spaces around Stoke-onTrent. This allows our residents to wind down from their busy weeks and spend time together as a house. To celebrate and reflect on the many years we enjoyed at Liberty Farm Detox, all of our staff and residents came together for a meal in May. 21 22 ## Vo l u n t e e r i n g Volunteering is at the heart of who we are. Walk was built by volunteers, and volunteering has remained important throughout the years. One of our core values is servanthood. This means offering help, getting stuck in, and not seeing any job as beneath you. Walk has developed good relationships with organisations, charities, and companies around the city. Our existing partnerships enable Walk to send our residents into trusted places to gain skills and experience, while providing extra volunteers for those who need them. This year we have also enjoyed volunteering at various festivals across the UK such as Big Church Festival, Limitless, and Jesus Fields. ## **67,200+ Voluntary Hours Completed** **----- Start of picture text -----**
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“ When they told me I was going to do voluntar y work I was furious, but I knew in my heart I should be there. In fact, one of the biggest lessons I learned at Walk was through volunteering. I had next to no money at this point, but I had never been so rich. I had a family, people around me that truly cared for me, and I started to see what was really valuable in life.” **----- Start of picture text -----**
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## Ma g a zi ne This year we produced our third edition of the Walk Ministries magazine. As well as giving an update on the effect that Covid had on the charity, we used this latest edition as an opportunity to showcase different voices. Alongside testimonies from men on their journey to freedom, we included stories from partners, pastors, and the staff who work alongside and serve our residents. This special edition also contains a selection of photos and interviews from our celebration for receiving the Queen’s Award for Voluntary service. Our friends, families, and supporters joined with our men at Rudyard Lake to acknowledge the milestone moment in our history. Included in this edition is a special interview with the Earl of Harrowby, who commends Walk for it’s lasting impact on society and the wider community. We use the magazine to raise awareness of Walk, taking it with us to conventions and conferences. We also distribute the magazine across various charities, prisons and rehabilitation services across the UK to share hope with those currently serving sentences. ## T h e Wa l k Ce n t r e The Walk Centre is where our offices are located and where residents participate in mentoring, training and support sessions. This year we expanded the kitchen into a more inviting and functional space where we can hold cooking lessons. We have included an open plan living space with comfy sofas and chairs. The area is bright and welcoming, but also relaxing. The residents have enjoyed using the new space for socialising with a brew and a bite to eat. In the main building, we have also added new bathroom facilities, upgrading the toilet we had into a larger space to accomodate our growth. Improvements have been made to the upstairs offices with a fresh layer of paint and new door installed so that the referrals team have more privacy to hold meetings with prospective residents. In the downstairs offices we have improved our COO‘s space, making the area larger, more inviting and multi-functional. 25 26 **----- Start of picture text -----**
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## #THE 96HOUR CHALLENGE In November 2021 our CEO Simon, and one of our support team Darren, led this year ‘s 96 hour challenge. Alongside four Walk residents, they completed a four day hike on the canals racking up an impressive 105 miles. The team took no money or bank cards with them and relied entirely on the kindness of the owners of cafes, pubs, and businesses they called into to get a warm drink or food along the way. Each day was a new adventure for the four men on this journey as they walked the length of a marathon. Every evening as the temperature dropped and the light faded, they set up camp wherever they could find shelter, as many people who face homelessness have and continue to do across the UK each year. Walk Ministries partners with charities who share the heart and passion to bring people out of addiction and homelessness. This year ’s challenge raised £1955 which was shared between five charities and provided Christmas meals to men and women who have experienced homelessness, addiction and other struggles throughout their lives. ## **‘It was inspirational. It made us stronger as men and grateful for what we have.’** 28 ## H i gh Sh eri f f **Awar d** In March, we were invited to the County Buildings in Stafford to collect the High Sheriff of Staffordshire award on behalf of Walk Ministries. The award acknowledges ‘Walk’s great and valuable services to the community’ and ‘recognises the appreciation of the residents and people of the High Sheriff’s County for activity and contribution in enhancing the life of the community.’ Alongside nine other charities, Walk was celebrated at an event hosted by the Community Foundation for Staffordshire and awarded grant funding from the High Sheriff. We are so grateful that the hard work of everyone at Walk has been recognised and rewarded. **----- Start of picture text -----**
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**Roya l** Ga r d e n Par t y It was a privilege to be invited to a garden party in the grounds of Buckingham Palace in honor of Walk recieving the Queen‘s Award for voluntary service. The Queen traditionally hosts three garden parties at the London landmark each year welcoming guests who have made a positive impact in their community. Simon (our CEO) and Karen (our COO) attended the event on behalf of Walk. The event was protected by The King‘s Bodyguard the Yeomen of the Guard (pictured bottom left and right). This special regiment is the oldest military corps in existence and is made of 73 servicemen and officers, all of whom have served in one of the military forces. HRH Prince William and HRH Princess Catherine of Wales were in attendance. Princess Beatrice, Prince Edward and Sophie the Countess of Wessex also attended the party, all greeting and mixing with the guests. Members of the Royal Family circulated among the guests and the National Anthem was played by one of two military bands in attendance. There was an abundance of cake and tea to enjoy. 30 ## Ch u rc h e s & Par tn ers ## BARRY WOODWARD As well as being a regular guest speaker at our weekly Bible Studies‚ this year, Barry has ran a two-day workshop with many of our residents on ‘Turning your mess into a message‘. This course encourages the men to tell their stories of hope, sharing who they used to be, but more importantly, who they have become through their journey at Walk and with God. As Barry‘s book, ‘Once an Addict‘ has been sent into many prisons across the UK, his work is often familiar to our residents when they arrive. ## ST PETERS ACADEMY In April we visited St Peter ‘s Academy in Fenton to speak to a Year Seven class who were learning about our charity in their Religious Education lessons. Simon, our CEO, explained how and why Walk was created. We invited the class into the centre to see first hand the day to day operations at Walk. Having watched a video of Gareth‘s story in their lessons, they were invited to ask him any questions they had and learn more about his life. They also participated in a discussion about the importance of community with the residents. ## KEELE UNIVERSITY Charlie Weinberg from Safeground and Professor Mary Corcoran from Keele university led a workshop with our residents exploring “ What is Justice”. This was part of research being conducted by Keele Criminology department. The group of researchers were accompanied by _More Than Minutes,_ a company who specialise in creating art inspired by the content of meetings. The artwork they created is in the process of being framed for our main meeting room. 32 **----- Start of picture text -----**
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## WE ARE MEN CWMBRAN In October 2021 we hosted our annual ‘ We Are Men‘ conference in Cwmbran, South Wales. The event provides a space for men to come together in unity for a day of teaching and worship. The theme of the conference was #ItsOurTime. The day opened with a time of worship led by Jamie Hill. The keynote speakers were; Mark Penman ( Victory Outreach Glasgow), Clyde Thomas ( Victory Church, Cwmbran), Paul Lloyd ( Victory Outreach) and Simon Edwards ( Walk Ministries) . Between them, the speakers covered a host of topics including accountability, authority, serving, and leadership. Allen Langham (author of ‘ _Taming of a Villain_ ‘) shared his testimony. Throughout the day we also ran specialised breakout workshops, covering the Bible, Worship, the Father ‘s Heart, and Determined Boundaries. ‘It was an incredible day of fellowship and worship. I enjoyed it so much I had lost my voice the next day.‘ 33 34 **----- Start of picture text -----**
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## T h e Ye a r Ah e a d Over the coming year one of our main priorities will be to find a suitable building for our detox home. We closed our previous building in July 2022 due to it not being fit for purpose and have since been seeking a new property. There are currently no facilities for detox in Stoke-on-Trent, so finding a suitable home to provide this vital service will be our top priority. We are continuing to create new spaces and make improvements to the Walk Centre. This coming year we will be building a new training room and chapel. These areas will lead off the new kitchen and chill out zone that were developed this year. We are currently fundraising for a staircase that will connect these areas with the downstairs which will be developed into a community café to serve the Walk Centre and local partners. This year we will aim to increase our presence in prisons across the UK. We will visit prospective residents and share about Walk, hoping to bring light into the darkness. Our current minibus was born in 1983 and has sadly passed away. We will be fundraising to purchase a newer model which will enable us to take residents on days out and to appointments. As always, we appreciate your prayers and support as we enter into another exciting year. “Meeting me 10 years ago you would have met someone addicted to crack and heroin, committing crimes to suppor t his habit. But not anymore, I’m now living with purpose, God’s purpose, for my life.” 36 ## Re se r ves Po l i c y The trustees aim to maintain free reserves in unrestricted funds at a level which equates to approximately three months of unrestricted charitable expenditure. The trustees consider that this level will provide sufficient funds to respond to operational needs and ensure that support and governance costs are covered. ## Fin a n ci a l P l a n n i n g a n d M o n i t o r i n g Detailed budgets are produced prior to the commencement of the year to establish the level of funding required to cover expenditure, this enables us to set targets for our funding strategy and to secure funds required. Management accounts are generated monthly providing key information for financial operations. ## F i n a n ci a l Re v iew ## Review of Year ended 31st July 2022 Turnover from Housing Benefit income increased by £135,011, from £560,998 to £696,009 due to an increase in rent charges to cover increasing costs of overheads and operating costs, also the addition of 5 accommodation units during the year. Other incomes decreased by £48,565 from £234,397 to £185,832 due to the current challenging conditions for fundraising post Covid 19 and the Ukraine war, means funders are often diverting funds elsewhere. Expenditure for operating costs increased by £87,033 due to the increased costs of fuel and utilities and general increases. Surplus income is exempt from tax because it is the result of residential property income or trading activity that is part of the charity ’s primary purpose trading. The charity will continue to operate its existing number of bed spaces of accommodation without any increase anticipated over the coming year. Diversity in partnership work throughout the year has created more placements for residents. Henry Gompertz Chair of Trustees 38 37 Registered number 1168547 ## Walk Ministries ## Report and Unaudited Accounts 31 July 2022 **Walk Ministries Contents** ||**Page**| |---|---| |Approval statement|1| |Independent examiners report|2| |Income and expenditure account|3| |Balance sheet|4| |Notes to the accounts|5| ## **Walk Ministries** ## **Approval statement** I approve the accounts which comprise of the Income & Expenditure and Balance Sheet. I acknowledge my responsibility for the accounts, including the appropriateness of the applicable financial reporting framework as set out in note 1, and for providing Fortune Hart Limited with all the information and explanations necessary for their compiliation. Henry Gompertz Chair of Trustees 27 March 2023 1 **Walk Ministries 1168547** ## **Independent Examiner's Report on the accounts** I report to the trustees on my examination of the accounts of the above charity (“the Trust”) for the year ended 31/07/2022. ## **Responsibilities and basis of report** As the charity trustees of the Trust, 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 Trust’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination, I have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act. ## **Basis of independent examiner's statement** I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination which gives me cause to believe that in, any material respect: - accounting records were not kept in accordance with section 130 of the Act or - the accounts do not accord with the accounting records I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in order to enable a proper understanding of the accounts to be reached. This was approved on 27th March 2023 Lisa Fortune signed on behalf of Fortune Hart Ltd 24 Brookside Business Park Stone Staffordshire ST15 0RZ 2 ## **Walk Ministries** ## **Statement of Income and Expenses for the year ended 31 July 2022** |**Income**
Donations
Income from charitable activities
Activities for generating funds
Revenue grant income
**Direct costs**
Charitable activities
**Gross surplus**
**Other Administrative expenses**
Charitable Activities
Wages and salaries
Motor and Travel Costs
Premise and office costs
Repairs and maintenance
Advertising and PR
Other legal and professional
Depreciation
Bad debts
Interest payable
Sundry expenses
**Governance costs**
Accountancy fees
**Other operating income**
Other operating income
Interest received
Loss on the disposal of tangible fixed assets
**Net surplus/deficit**
**Reconcilation of funds**
Total funds brought forward
Surplus/deficit in the period
Total funds carried forward|**£**
**£**
22,999
696,009
47,430
39,153
805,591
287,235
**518,356**
234,390
56,899
23,223
15,348
4,215
1,840
55,188
2,787
379
7,693
401,962
3,151
405,113
12,170
5
(192)
11,983
**125,226**
178,272
124,606
**302,878**
**2022**
**Unrestricted Funds**|**£**
**£**
-
-
-
76,250
76,250
-
**76,250**
82,350
-
-
-
-
-
12,600
-
-
-
94,950
-
94,950
-
-
-
-
**(18,700)**
18,700
(18,700)
**-**
**2022**
**Restricted Funds**|**2022**
**Total Funds**
**£**
22,999
696,009
47,430
115,403
881,841
287,235
**594,606**
316,740
56,899
23,223
15,348
4,215
1,840
68,408
2,787
379
7,693
497,532
3,151
500,683
12,170
5
(192)
11,983
**105,906**
196,972
105,906
**302,878**|**2021**
**Total Funds**
**£**
26,881
560,998
41,345
166,171
795,395
297,260
**498,135**
271,079
34,057
22,852
15,357
380
3,437
55,185
-
259
8,484
411,090
2,560
413,650
1,795
2
-
1,797
**86,282**
110,690
86,282
**196,972**| |---|---|---|---|---| 3 |**Walk Ministries**
**Registered number:**
**Statement of Financial Position**
**as at 31 July 2022**
**Notes**
**Fixed assets**
Tangible assets
**Current assets**
Stocks and WIP
Debtors
Cash at bank and in hand
Creditors
PAYE
Pension
Accruals and deferred income
**Total Assets Less Current Liabilities**
**Net assets**
**Capital Account**
Unrestricted funds
Restricted funds|1168547
9,783
26,028
115,999
151,810
-
4,622
1,452
33,735
39,809|**2022**
**£**
190,877
112,001
302,878
302,878
-
302,878
-|-
19,255
76,137
95,392
242
14,675
2,392
37,171
54,480|**2021**
**£**
156,060
40,912
196,972
178,272
18,700
196,972| |---|---|---|---|---| 4 **Walk Ministries Notes to the Accounts for the year ended 31 July 2022** ## **1 Accounting policies** ## _**Basis of preparation**_ The accounts have been prepared in accordance with the Accounting and Reporting by Charities: 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 (FR102) (Effective 1 January 2015) - (Charities SORP (FRS 102)), the financial reporting standard applicable in the UK and Republic of Ireland (FRS 102), the Charities Act 2011 and the Charities (Accounts and Reports) Regulations 2008. ## _**Turnover**_ Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. ## _**Grants and donations**_ These are included in the accounts when the charity has unconditional entitlement to the income. ## _**Charitable funds**_ Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives. Restricted funds are subject to specific conditions by donors as to how they may be used. ## _**Intangible fixed assets**_ Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses. ## _**Tangible fixed assets**_ Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: Freehold buildings over 50 years Leasehold land and buildings over the lease term Property Improvements over 5 years Plant and machinery over 5 years Office equipment 33% reducing balance Furniture and fixtures 33% reducing balance Fixtures, fittings, tools and equipment over 5 years Motor vehicles 33% reducing balance 5 **Walk Ministries Notes to the Accounts for the year ended 31 July 2022** ## _**Investments**_ Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account. ## _**Stocks**_ Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised. ## _**Debtors**_ Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. ## _**Creditors**_ Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. ## _**Taxation**_ Walk Ministries is a registered charityy and as such is a charity within the meaning of schedule 6 of the Finance Act 2010. Accordingly, it is potentially entitled to tax exemption under part 11 of the Corporation Tax Act 2010 or section 256 of Chargeable Gains Act 1992 in respect of income and gains arising. ## _**Provisions**_ Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably. ## _**Foreign currency translation**_ Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss. 6 ## **Walk Ministries Notes to the Accounts for the year ended 31 July 2022** ## _**Leased assets**_ A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term. ## _**Pensions**_ Contributions to defined contribution plans are expensed in the period to which they relate. |**2**
**Employees**
Average number of persons employed by the company
**3**
**Tangible fixed assets**
**Property**
**Improveme**
**nts**
**Plant and**
**machinery**
**etc**
**£**
**£**
**Cost**
At 1 August 2021
112,758
82,945
Additions
72,235
28,471
Disposals
-
(1,823)
At 31 July 2022
184,993
109,593
**Depreciation**
At 1 August 2021
24,687
38,291
Charge for the year
36,050
23,668
On disposals
-
(1,343)
At 31 July 2022
60,737
60,616
**Net book value**
At 31 July 2022
124,256
48,977
At 31 July 2021
88,071
44,654|**2022**
**Number**
25
**Motor**
**vehicles**
**£**
37,420
3,425
(3,226)
37,619
14,085
8,691
(2,801)
19,975
17,644
23,335|**2021**
**Number**
25
**Total**
**£**
233,123
104,131
(5,049)
332,205
77,063
68,409
(4,144)
141,328
190,877
156,060| |---|---|---| 7 ## **Walk Ministries Notes to the Accounts for the year ended 31 July 2022** |**4**
**Debtors**
Trade debtors
Other debtors
**5**
**Creditors: amounts falling due within one year**
Trade creditors
Taxation and social security costs
Other creditors|**2022**
**£**
17,636
8,392
26,028
**2022**
**£**
-
4,622
35,187
39,809|**2021**
**£**
12,039
7,216
19,255
**2021**
**£**
242
14,675
39,563
54,480| |---|---|---| 8