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← Wall Heath Evangelical Free Church

2024-12-31-accounts

Registered number: 10288333 Charity number: 1170571

WALL HEATH EVANGELICAL FREE CHURCH

(A company limited by guarantee)

UNAUDITED

TRUSTEES' REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

WALL HEATH EVANGELICAL FREE CHURCH

(A company limited by guarantee)

CONTENTS

Page
Reference and administrative details of the Company, its Trustees and advisers 1
Trustees' report 2 - 9
Independent examiner's report 10
Statement of financial activities 11
Balance sheet 12 - 13
Notes to the financial statements 14 - 29

WALL HEATH EVANGELICAL FREE CHURCH

(A company limited by guarantee)

REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2024

Trustees J Jones (appointed 29 December 2024)
M Yates
J F Day
K D Cram
M J N Tromans
M J Orton
M B D Jones
P J Cram
S P Evans
M J L Tromans
R Jones (appointed 29 December 2024)
Company registered
number
10288333
Charity registered
number
1170571
Registered office
81 Enville Road
Wall Heath
Kingswinford
West Midlands
DY6 0JX

Page 1

WALL HEATH EVANGELICAL FREE CHURCH

(A company limited by guarantee)

TRUSTEES' REPORT FOR THE YEAR ENDED 31 DECEMBER 2024

The Trustees present their annual report together with the financial statements of the Company for the 1 January 2024 to 31 December 2024. The Annual report serves the purposes of both a Trustees' report and a directors' report under company law. The Trustees confirm that the Annual report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable company's governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019).

Since the Company qualifies as small under section 382 of the Companies Act 2006, the Strategic report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013 has been omitted.

Objectives and activities

a. Policies and objectives

As set out in the Church’s Constitution and Basis of Faith, the Church activities consist of far more than Sunday services. A constantly developing programme of ministries and activities is designed to cater for young and old, male and female and for those experienced and inexperienced in the Christian faith. A mission statement for the church exists as follows:

We are here to glorify God:

Our church values are:

PUBLIC BENEFIT

The Trustees confirm that they have complied with the duty in section 17 of the Charities Act 2011 to have due regard to public benefit guidance published by the Commission in determining the activities undertaken by the Charity.

The Charity Commission in its "Charities and Public Benefit" Guidance states that there are two key principles to be met in order to show that an organisation's aims are for the public benefit: firstly, there must be an identifiable benefit and secondly, that benefit must be to the public or a section of the public. The Trustees are satisfied that the aims and objectives of the charity, and the activities reported on below to achieve those aims, meet these principles.

The public benefit that the Church provides is a programme of activities and ministries for people in the Christian faith.

In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'.

Page 2

WALL HEATH EVANGELICAL FREE CHURCH

(A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

Objectives and activities (continued)

b. Activities undertaken to achieve objectives

The main activities in relation to these objects include:

No Strings Attached – Puppet team

• Activities for midweek fellowship Seniors meeting Refresh Café Craft & Sew on

Page 3

WALL HEATH EVANGELICAL FREE CHURCH

(A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

Objectives and activities (continued)

These activities are not restricted to church members but open to everyone in the community. All activities are free of charge, except where there is a significant financial outlay such as weekends away.

The Church is a community of people desiring to serve and worship God. Without the significant time and energy provided by a large number of volunteers as part of their desire to serve God, the Church could not continue to function.

The Pastor is a full time paid employee of the Church and shares responsibility for the leadership, spiritual oversight and well-being of the congregation jointly with the Elders.

There is also three part time paid members of staff. An administrator, a site manager and Café manager. All other members of the Church fulfil their roles on an entirely voluntary and unpaid basis. All such contribution is greatly appreciated.

In addition to activities described above, the Church has an interest in Christian missionary work both at home nd abroad and supports a number of missionaries both financially and in prayer and practical undertakings. The amount of the financial contribution to such missionaries is agreed between the Elders and missionary committee.

Similarly, the Church will make donations to individuals and to organisations that are in financial need. Again, the amount of this contribution is agreed.

Achievements and performance

a. Review of activities

Church

The church saw numerical growth in 2024 as well as expanding the number of ministries we run as a church. The building lettings continued to be a provision to the local and regional community throughout the year.

We hosted a local Black Country conference for the FIEC (Fellowship of Independent Evangelical Churches) in March. Also we were the away day venue for Grace Church Stirchley in June and our own church home day in July.

The Olive Branch Café continued to develop as a not-for-profit business. We employ a part time member of staff to run this as a ministry, but as a support to other church and community ministries and lettings that take place in the church premises. It relies on the many volunteers who serve willingly and faithfully. It has been a great help to a local community group who support adults with learning disabilities, who attend weekly due to it being a safe welcoming café space. The church ran an Alpha course on Sunday evenings throughout the year.

Page 4

WALL HEATH EVANGELICAL FREE CHURCH

(A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

Achievements and performance (continued)

Mission Support

Wycliffe Bible Translators – support of Bible translators in Indonesia. Dignity Freedom Network– supporting 3 Dalit children in their education and upbringing. Birmingham City Mission – John Platt Slavic Gospel Association - Vadim Musurivski European Christian Mission – Phillipe & Joanne Mayhew Amen Ministries – Shoeboxes to Roma communities in Romania. Fellowship of Independent Evangelical Churches (FIEC) Kolkata City Mission – India Operation Mobilisation Support for Gareth and Malou Bolton Tear Fund The Leprosy Mission Africa Rural Trainers (ART) Black Country Foodbank New Kapporet – Christian telephone support ministry & prayer Matthew Tromans – Ministry trainee

Church Fabric

The church building is in use in some form almost every day and has been a great provision to be able to expand what we do as a church. Some aspects of the original build were not completed and fundraising for the fences and PA equipment continue. We received a gift which overed the cost of fitting the dividers upstairs, and this has been a great benefit to both church and community groups. We also received a gift to cover the cost of repairing the fence which backs onto the park, adding security to the site.

The role of the site manager, to oversee maintenance and setup, has expanded as the lettings have increased and building has needed maintaining.

There have still been some minor issues with the building. A number of leaks have had to be repaired, and the Velux windows upstairs leaked and are waiting for repair.

In Dec we employed two new cleaners to share the role, ensuring the building is fit for use throughout the week.

Place of Worship

We have gathered Sunday services on Sunday mornings and evenings, and the sermons are recorded and put on our website for anyone to listen to.

House groups were held in people’s homes and at the church building on a rota basis twice a month and offer encouragement, support, prayer, Bible study and friendship.

Prayer times are held twice a month on a Sunday evening and at other times during the week.

Pastoral care is offered and given to everyone within the church and to those within the community who need our help.

Page 5

WALL HEATH EVANGELICAL FREE CHURCH

(A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

Achievements and performance (continued)

Youth Work

Shooting Stars – A Friday night meeting for children in school years reception, years 1-2, with games, singing, craft activities etc. It runs at the same time as United but in a different part of the building.

United - A Friday night meeting for primary school children in years 3 - 6

with games, singing, craft activities etc. It runs at the same time as Shooting Stars but in a different part of the building.

Connect on Friday nights – for children in school years 7-11. On average 6-12 young people come each week to enjoy a time of fun, games, art, craft, and Christian teaching.

SALT- a short time for around 8 young people to meet at church on a Sunday afternoon once a month. Discussions, bible study and prayer times and food and drink.

Holiday Bible Club – children’s club running from Monday to Friday was held each morning for a week in July, with a family barbecue on the Friday lunchtime.

Creative

No Strings Attached puppet team – Performances on Sundays, in school assemblies and at the carol service. A performance took place in the new church building on Christmas Day.

Community

Bright Sparks Toddlers - This is an opportunity for parents and carers to come and share fellowship together with their young children.

Livewires / Sparklers /Crèche – Up to 25 children are taught simple Bible stories during the Sunday morning church services. The upstairs rooms in the new church building have made a big difference to running this meeting, allowing the children to have space to worship and have age-appropriate lessons.

Seniors meeting - A daytime fellowship meeting weekly on Wednesdays, which largely attracts people of a senior age but is open to all. This restarted with a Jubilee special in June and alternates between a service, followed by fellowship in the café the following week.

Craft & Sew on – A bi-weekly fellowship meeting based around craft and anything creative.

Schools team – Take assemblies on a regular basis at 4 primary schools and occasionally are involved in lessons. We support the GSUS Live trailer at secondary schools when it is in the area. We had a visit from a year 1 and 2 class from a local school in March to share about what Easter means to Christians.

Page 6

WALL HEATH EVANGELICAL FREE CHURCH (A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

Achievements and performance (continued)

Lettings – The new building continues to offer space to communitygroups and organisations. We have a brochure and an area on the website dedicated to letting the space we have..

Fellowship of Independent Evangelical Churches local conference hosted in March.

Our church website has continued to well accessed for notices, Sunday services both pre-recorded and live streamed, with a dedicated members area for church related information.

Financial review

a. Going concern

The Trustees have a reasonable expectations that the charity has adequate resources to continue in operational existence for the foreseeable future. The Trustees have reviewed future cashflows for income and expenditure including payment of the bank loan for the next 12 months. They continue to believe that the going concern basis of accounting is appropriate in preparing the financial statements.

b. Reserves policy

The Trustees are aware of the Charity Reserves: building resilience (CC19) Charity Commission Guidance and wish to develop a reserves policy in the long term recognising that in the current financial situation with a large external mortgage and two Members Loan repayments any surplus funds are treated as working capital and used towards easing cashflow in the following financial year.

This is considered by the Treasurer to be an acceptable financial position

The charity currently has total funds of £1,088,432 (2023 £1,099,225) of which £1,060,087 (2023: £1,071,624) is unrestricted. The free reserves which amounts to the unrestricted funds less fixed assets is equal to negative £480,183 (2023: Negative £497,402). Please note that there are creditors greater than one year of £458,308 (2023: £483,948) and if the creditors greater than one year are removed from free reserves then the free reserves are negative £21,875 (2023: £13,454)

Restricted funds are £28,345 (2023: £27,601).

c. Principal funding

The principal source of funds is mainly through voluntary donations of the Church’s members and adherents. While this is set out in the Bible as both a responsibility and a privilege for Christian people, individuals are not placed under any additional obligation either to give a certain amount or indeed to give at all and newcomers and visitors to Sunday morning services (a collection box is provided at the rear of the church) are regularly encouraged not to feel under any obligation to give.

As with the voluntary help for the activities of the Church, without the voluntary giving of the congregation, the Church could not continue to function, and the Elders and trustees are grateful to God for His provision.

Page 7

WALL HEATH EVANGELICAL FREE CHURCH

(A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

Structure, governance and management

a. Constitution

Wall Heath Evangelical Free Church is registered as a charitable company limited by guarantee and was set up by a Memorandum of Association.

The company is registered as a charitable company limited by guarantee and was set up by a Memorandum of Association on 20/07/16.

The company is constituted under a Memorandum of Association dated 20/07/16 and is a registered charity number 1170571.

The principal object of the company is to glorify God:

The church operates under the business and charity name ‘Wall Heath Evangelical Free Church.’

The church has a working name of ‘New Life Church Wall Heath’, which was agreed by the Charity Commission in November 2022.

This change of our outward name from Wall Heath Evangelical Free Church to the working name of New Life Church Wall Heath, took place over the Easter weekend in 2023.

b. Methods of appointment or election of Trustees

The management of the Company is the responsibility of the Trustees who are elected and co-opted under the terms of the Memorandum of Association.

c. Organisational structure and decision-making policies

While the Trustees have ultimate accountability for the maintenance of the Church building at Enville Road, daily responsibility for its maintenance is delegated to the Elders and Deacons of the Church. The Church itself (i.e. the congregational body and its affairs) is governed by a Constitution and a Basis of Faith and served by Elders and Deacons who are accountable to the Church membership and to God for fulfillment of their responsibilities.

The Trustees are aware of the Charity Governance Code for smaller charities and are reviewing the code and considering its application to the Church.

Page 8

WALL HEATH EVANGELICAL FREE CHURCH IA company limited by guarantee) TRUSTEES, REPORT ICONTINUEDI FOR THE YEAR ENDED 310ECEMBER 2024 Plans for future periods The future plans for the charity are focussed on increasing revenue based on footfall through the building in 3 primary ways, rather than in the reduction of expenditure. The three ways being'.- Through increased church attendance leading lo additional giving. Through the increase of lettings and hire of the building I rooms to appropriale organisations Through extending the opening hours of the cafe and related provisions leading to Increased customers usage of the cafe thereby generating further income. We anticipate that as a result of the above, the church's income will increase in 2025. We are working towards increased opening hours al our cafe and through the provision of home baked cakes and more advertising, attracting more to the cafe. As a result of church growth, we are planning to employ more staff to engage in ministry and pastoral work. Statement of Trustees. responsibilities The Trustees (who are also the directors of the Company for the purposes of company lawl are responsible for preparing the Trustees. report and Ihe financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the Trustees to prepare financial statements for each financial . Under company law, the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Company and of its incoming resources and application of resources, including its income and expenditure, for that peri¢)d. In preparing these financial statements, the Trustees are required to.. select suitable accounting policies and then apply them consistenlly, observe the methods and principles of the Charities SORP IFRS 102)., make judgments and accounting estimates that are reasonable and prudent., state whether applicable UK Accounting Standards IFRS 1021 have been followed, subject to any material departures disclosed and explained in the financial stalements, prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business. The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any lime the financial position of the Company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Approved by order of the members of the board of Trustees and signed on their behalf by.. B D Jones Trustee Date.. J Orton Trustee Page 9

WALL HEATH EVANGELICAL FREE CHURCH (A company limited by guarantee) INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 Independent Examiner's Report to the Trustees of Wall Heath Evangelical Free Church I'the Company.) I report lo the charty Trustees on my examination of the accounts of the Company for the year ended 31 December 2024. Responsibilities and Basis of Report As the Trustees of the Company (and its directors for the purposes of company law} you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 20061'the 2006 Acl'l Having satisfied myself that the accounts of the Company are not required lo be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the Company's accounts carried out under section 145 of Ihe Charities Act 2011 1.the 2011 Act'l In carrying out my examination I have followed the Direclions given by the Charity Commission under section 145{5)Ibl of the 2011 Act. Independent Examiner's Statement I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe.. accounting records were not kept in respecl of the Company as required by section 386 of the 20C6 Act; or the accounts do not accord with those records., or the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requiremenl that the accounts give a 'true and fairf view which is not a matter considered as part of an independent examination., or the accounts have not been prepared in accordance wilh the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities lapplicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102)]. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Signed.. Andrew David Wat use ACMA, GCMA The Granary, Folley Road, Ackleton, WV6 7JL Page 10

WALL HEATH EVANGELICAL FREE CHURCH

(A company limited by guarantee)

STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 DECEMBER 2024

Note
Income from:
Donations and legacies
3
Investments
4
Other income
5
Total income
Expenditure on:
Charitable activities
6
Total expenditure
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Net movement in funds
Total funds carried forward		 Unrestricted
funds
2024
£
136,033
235
36,024
172,292
183,829
183,829
(11,537)
1,071,624
(11,537)
1,060,087		 Restricted
funds
2024
£
21,808
-
-
21,808
21,064
21,064
744
27,601
744
28,345		 Total
funds
2024
£
157,841
235
36,024
194,100
204,893
204,893
(10,793)
1,099,225
(10,793)
1,088,432		 Total
funds
2023
£
148,286
140
18,147
166,573
174,353
174,353
(7,780)
1,107,005
(7,780)
1,099,225

The Statement of Financial Activities includes all gains and losses recognised in the year.

The notes on pages 14 to 29 form part of these financial statements.

Page 11

WALL HEATH EVANGELICAL FREE CHURCH (A company limited by guarantee) REGISTERED NUMBER: 10288333

BALANCE SHEET AS AT 31 DECEMBER 2024

Note
Fixed assets
Tangible assets
10
Current assets
Debtors
11
Cash at bank and in hand
Current liabilities
Creditors: amounts falling due within one
year
12
Net current assets
Creditors: amounts falling due after more
than one year
13
Net assets
Total net assets
Charity funds
Restricted funds
15
Unrestricted funds
15
Total funds		 16,235
16,425
32,660
(26,191)		 2024
£
1,540,271
1,540,271
6,469
(458,308)
1,088,432
1,088,432
28,345
1,060,087
1,088,432		 17,253
12,370
29,623
(15,476)		 2023
£
1,569,026
1,569,026
14,147
(483,948)
1,099,225
1,099,225
27,601
1,071,624
1,099,225

Page 12

WALL HEATH EVANGELICAL FREE CHURCH IA company limited by guarantee> REGISTERED NUMBER: 10288333 BALANCE SHEET (CONTINUED AS AT 31 DECEMBER 2024 The Company was entitled to exemption from audit under section 477 of the Companies Act 20C6. The members have not required the company to obtain an audit for the year in question in accordance with section 476 of Companies Act 201 The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements. The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime. The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by.. B D Jones J Orton Date.. 41gIzo The notes on pages 14 to 29 form part of these financial statements. Page 13

WALL HEATH EVANGELICAL FREE CHURCH (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

1. General information

The company is a company limited by guarantee. The members of the company are the Trustees named on page 1. In the event of the company being wound up, the liability in respect of the guarantee is limited to £1 per member of the company.

2. Accounting policies

2.1 Basis of preparation of financial statements

The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - 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 (FRS 102) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Wall Heath Evangelical Free Church meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.

2.2 Going concern

The Trustees have a reasonable expectations that the charity has adequate resources to continue in operational existence for the foreseeable future. The Trustees have reviewed future cashflows for income and expenditure including payment of the bank loan for the next 12 months. They continue to believe that the going concern basis of accounting is appropriate in preparing the financial statements.

Page 14

WALL HEATH EVANGELICAL FREE CHURCH (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

2. Accounting policies (continued)

2.3 Income

All income is recognised once the Company has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.

For legacies, entitlement is taken as the earlier of the date on which either: the company is aware that probate has been granted, the estate has been finalised and notification has been made by the executor(s) to the Trust that a distribution will be made, or when a distribution is received from the estate. Receipt of a legacy, in whole or in part, is only considered probable when the amount can be measured reliably and the company has been notified of the executor's intention to make a distribution. Where legacies have been notified to the company, or the company is aware of the granting of probate, and the criteria for income recognition have not been met, then the legacy is treated as a contingent asset and disclosed if material.

Donated services or facilities are recognised when the company has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use of the company of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 102), the general volunteer time of the Friends is not recognised and refer to the Trustees' report for more information about their contribution.

On receipt, donated professional services and donated facilities are recognised on the basis of the value of the gift to the company which is the amount the company would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.

Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.

2.4 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.

Support costs are those costs incurred directly in support of expenditure on the objects of the company and include project management carried out at Headquarters.

Charitable activities and Governance costs are costs incurred on the company's educational operations, including support costs and costs relating to the governance of the company apportioned to charitable activities.

Page 15

WALL HEATH EVANGELICAL FREE CHURCH

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

2. Accounting policies (continued)

2.4 Expenditure (continued)

Expenditure on charitable activities is incurred on directly undertaking the activities which further the Company's objectives, as well as any associated support costs.

2.5 Tangible fixed assets and depreciation

Tangible fixed assets costing £1000 or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.

A review for impairment of a fixed asset is carried out if events or changes in circumstances indicate that the carrying value of any fixed asset may not be recoverable. Shortfalls between the carrying value of fixed assets and their recoverable amounts are recognised as impairments. Impairment losses are recognised in the Statement of financial activities incorporating income and expenditure account.

Tangible fixed assets are carried at valuation, net of depreciation and any provision for impairment. Depreciation is not charged on freehold land. Depreciation is provided at rates calculated to write off the valuation of fixed assets, less their estimated residual value, over their expected useful lives.

Depreciation is provided on the following bases:

2.6 Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the company; this is normally upon notification of the interest paid or payable by the Bank.

2.7 Debtors

Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

2.8 Cash at bank and in hand

Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

Page 16

WALL HEATH EVANGELICAL FREE CHURCH (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

2. Accounting policies (continued)

2.9 Liabilities and provisions

Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.

Liabilities are recognised at the amount that the Company anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.

Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of financial activities as a finance cost.

2.10 Financial instruments

The Company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

2.11 Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Company and which have not been designated for other purposes.

Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Company for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.

Page 17

WALL HEATH EVANGELICAL FREE CHURCH

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

3. Income from donations and legacies

Unrestricted
funds
2024
£
Donations
134,783
Grants
1,250
136,033
Total 2023
121,293		 Restricted
funds
2024
£
21,808
-
21,808
26,993		 Total
funds
2024
£
156,591
1,250
157,841
148,286		 Total
funds
2023
£
147,936
350
148,286

4. Investment income

Interest received
Total 2023
Other incoming resources

Hire of building
Olive Branch Café
Total 2023		 Unrestricted
funds
2024
£
235
140
Unrestricted
funds
2024
£
16,476
19,548
36,024
18,147		 Total
funds
2024
£
235
140
Total
funds
2024
£
16,476
19,548
36,024
18,147		 Total
funds
2023
£
140
Total
funds
2023
£
10,931
7,216
18,147

5. Other incoming resources

Page 18

WALL HEATH EVANGELICAL FREE CHURCH

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

6. Analysis of expenditure on charitable activities

Summary by fund type

Unrestricted
funds
2024
£
Charitable activities
183,829
Total 2023
174,179
Analysis of expenditure by activities
Activities
undertaken
directly
2024
£
Charitable activities
119,552
Total 2023
89,133		 Restricted
funds
2024
£
21,064
174
Support
costs
2024
£
85,341
85,220		 Total
2024
£
204,893
174,353
Total
funds
2024
£
204,893
174,353		 Total
2023
£
174,353
Total
funds
2023
£
174,353

7. Analysis of expenditure by activities

Page 19

WALL HEATH EVANGELICAL FREE CHURCH

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

7. Analysis of expenditure by activities (continued)

Analysis of direct costs

Evangelism
Missionary work
Children's work
Staff costs
Building repairs
Olive Branch Café
Total 2024
Total 2023
Analysis of support costs
Depreciation
Subscriptions
Communications
Computer costs
Insurance
Rates and electricity
Equipment
Sundry expenses
Mortgage interest
Accountancy
Total 2024
Total 2023		 Activities
2024
£
73,609
21,064
929
14,053
2,233
7,664
119,552
89,133
Activities
2024
£
28,755
3,258
1,230
549
2,398
9,209
6,280
1,801
30,955
906
85,341
85,220		 Total
funds
2024
£
73,609
21,064
929
14,053
2,233
7,664
119,552
89,133
Total
funds
2024
£
28,755
3,258
1,230
549
2,398
9,209
6,280
1,801
30,955
906
85,341
85,220		 Total
funds
2023
£
60,595
6,807
1,416
12,875
1,238
6,202
89,133
Total
funds
2023
£
29,437
3,739
1,393
-
1,777
11,144
4,485
3,274
29,257
714
85,220

Page 20

WALL HEATH EVANGELICAL FREE CHURCH

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

8. Staff costs

Wages and salaries
Social security costs
Pension contributions		 2024
£
61,684
9,215
2,710
73,609		 2023
£
50,309
7,686
2,600
60,595

The average number of persons employed by the Company during the year was as follows:

2024 2023
No. No.
Average number of employees 5 3

No employee received remuneration amounting to more than £60,000 in either year.

9. Trustees' remuneration and expenses

The key management personnel of the charity are the Trustees. The total remuneration paid to the key management personnel was £61,968 (2023: £49,626).

2024
2023
£
 £
M B D Jones Remuneration 42,152.00 35,320.00
K D Cram
 Remuneration
 11,857.00 11,706.00
M Tromans Remuneration 5,249.00
Pension contributions paid 2,710.00 2,600.00
61,968.00 49,626.00

The above trustees received remuneration as permitted by the Memorandum and Articles of the Charity and as approved at Trustee meetings.

During the year ended 31 December 2024, expenses totalling £ NIL were reimbursed or paid directly to Trustee (2023 - £333 to 1 Trustee) .

Page 21

WALL HEATH EVANGELICAL FREE CHURCH

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

10. Tangible fixed assets

Cost or valuation
At 1 January 2024
At 31 December 2024
Depreciation
Charge for the year
At 31 December 2024
Net book value
At 31 December 2024
At 31 December 2023		 Freehold
property
£
1,566,948
1,566,948
28,339
28,339
1,538,609
1,566,948		 Plant and
machinery
£
2,078
2,078
416
416
1,662
2,078		 Total
£
1,569,026
1,569,026
28,755
28,755
1,540,271
1,569,026

On 21 February 2019 the land was given a market valuation of £150,000 by A. K. Knight FRICS of Walton & Hipkiss. The land is not depreciated.

11. Debtors

Due within one year
Gift aid receivable
Creditors: Amounts falling due within one year
Mortgage (secured)
Other creditors
Accruals and deferred income		 2024
£
16,235
16,235
2024
£
15,594
10,000
597		 2023
£
17,253
17,253
2023
£
4,780
10,000
696

12. Creditors: Amounts falling due within one year

Page 22

WALL HEATH EVANGELICAL FREE CHURCH (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

12. Creditors: Amounts falling due within one year (continued)

2024
£
26,191		 2023
£
15,476

Other creditors falling due within one year includes £10,000 (2023 £10,000) of a £20,000 interest free loan from a member.

Page 23

WALL HEATH EVANGELICAL FREE CHURCH (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

13. Creditors: Amounts falling due after more than one year

Mortgage (secured)
Other creditors		 2024
£
328,308
130,000
458,308		 2023
£
343,948
140,000
483,948

Other creditors falling due after more than one year includes £130,000 (2023: £140,000) of interest free loans from members.

£20,000 repayable by 31 October 2025.

£20,000 repayable by 31 October 2026.

£20,000 repayable by 31 October 2027.

£20,000 repayable by 31 October 2028.

£20,000 repayable by 31 October 2029.

£20,000 repayable by 31 October 2030.

£15,000 repayable by 31 October 2031.

£5,000 repayable by 31 October 2032.

The aggregate amount of liabilities payable or repayable wholly or in part more than five years after the reporting date is:

Mortgage (secured) payable by instalments
Members Loans		 2024
£
240,196
60,000
300,196		 2023
£
319,572
70,000
389,572

Mortgage of £343,902 (2023: £348,728) was secured on the building and land of the charity. The interest is base rate plus 4.75% initially and base rate plus 3.75% on final stage payment drawdown. The mortgage term is 25 years.

Page 24

WALL HEATH EVANGELICAL FREE CHURCH

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

14. Financial instruments

2024 2023
£ £
Financial assets
Financial assets measured at fair value through income and expenditure 16,425 12,370

Financial assets measured at fair value through income and expenditure comprise cash at bank.

Page 25

WALL HEATH EVANGELICAL FREE CHURCH

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

15. Statement of funds Statement of funds - current year

Unrestricted funds
General Funds - all funds
Restricted funds
Building fund
Total of funds		 Balance at 1
January
2024
£
1,071,624
27,601
1,099,225		 Income
£
172,292
21,808
194,100		 Expenditure
£
(183,829)
(21,064)
(204,893)		 Balance at
31
December
2024
£
1,060,087
28,345
1,088,432

Page 26

WALL HEATH EVANGELICAL FREE CHURCH

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

15. Statement of funds (continued) Statement of funds - prior year

Unrestricted funds
General Funds - all funds
Restricted funds
Building fund
Total of funds		 Balance at
1 January
2023
£
1,106,223
782
1,107,005		 Income
£
139,580
26,993
166,573		 Expenditure
£
(174,179)
(174)
(174,353)		 Balance at
31
December
2023
£
1,071,624
27,601
1,099,225

Page 27

WALL HEATH EVANGELICAL FREE CHURCH

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

16. Summary of funds

Summary of funds - current year


General funds
Restricted funds
Summary of funds - prior year
General funds
Restricted funds		 Balance at 1
January
2024
£
1,071,624
27,601
1,099,225
Balance at
1 January
2023
£
1,106,223
782
1,107,005		 Income
£

172,292
21,808
194,100
Income
£
139,580
26,993
166,573		 Expenditure
£
(183,829)
(21,064)
(204,893)
Expenditure
£
(174,179)
(174)
(174,353)		 Balance at
31
December
2024
£
1,060,087
28,345
1,088,432
Balance at
31
December
2023
£
1,071,624
27,601
1,099,225

17. Analysis of net assets between funds

Analysis of net assets between funds - current period

Unrestricted
funds
2024
£
Tangible fixed assets
1,540,271
Current assets
4,315
Creditors due within one year
(26,191)
Creditors due in more than one year
(458,308)
Total
1,060,087		 Restricted
funds
2024
£
-
28,345
-
-
28,345		 Total
funds
2024
£
1,540,271
32,660
(26,191)
(458,308)
1,088,432

Page 28

WALL HEATH EVANGELICAL FREE CHURCH (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

17. Analysis of net assets between funds (continued)

Analysis of net assets between funds - prior period

Tangible fixed assets
Current assets
Creditors due within one year
Creditors due in more than one year
Total		 Unrestricted
funds
2023
£
1,569,026
2,022
(15,476)
(483,948)
1,071,624		 Restricted
funds
2023
£
-
27,601
-
-
27,601		 Total
funds
2023
£
1,569,026
29,623
(15,476)
(483,948)
1,099,225

18. Related party transactions

During the year, M B D Jones, a trustee of the Charity received remuneration of £44,452 (2023: £37,920) and was reimbursed expense of £NIL (2023: 333).

K D Cram, a trustee of the Charity received remuneration of £12,267 (2023: £11,706).

.

M Tromans, a trustee of the Charity received remuneration of £5,249 (2023: £NIL).

Other than those already disclosed above there were no related party transactions or expenses incurred by Trustees in either year.

Page 29