2021-12-31-accounts - The Stable Trust

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WEST PARK CHURCH – ANNUAL REPORT FOR 2021

Details of Charity

Name: The Stable Trust (“the Church”) Charity Registration No: 251378 Principal office: West Park Church, Connaught Road, Wolverhampton Names of Trustees: S Doyle, R Gough, P Bradley, A Male, J Wilkes, A Sargent, C Smith, I Leadbeater

Review of 2021

As in 2020, the Coronavirus pandemic has continued to impact upon the life and work of the church. Some restrictions were eased during the year, and congregational singing resumed from July, but it was decided that social distancing and certain other measures should remain in operation. The YPF was restarted at the end of the year. The core functions, namely two Sunday services and a mid-week meeting for Bible study and prayer, have continued without interruption. Numbers attending the Sunday services have slowly risen, but mid-week attendance by the end of the year was still considerably lower than immediately before the pandemic struck in 2020. This has been disappointing and discouraging: we pray the Lord will stir up more to join with us as we bring our petitions before the Throne of Grace. While it appears that confidence is growing, a number of members remain cautious due to health issues – their own, or of close relatives. It has become clear that a significant number have grown more frail or unwell during the last two years, and can no longer attend as they might wish.

Primarily through the ministry, but also through pastoral work, and mutual encouragement in spiritual things, there has continued to be growth in grace, and we thank God for this. It has also been good to know that members have continued to quietly help each other through what for many have been trying and difficult months. The baptisms of John Cooke and Joey Rahl were particular highlights during the year. John Ericson and Keith Chitty died in 2021.

We were delighted to welcome Tom, Hannah, Nathaniel and Elisia Millward into the church in June, Tom having been appointed Assistant Pastor for a period of two years.

Financial summary

By the end of the year, “regular” income had increased slightly above that of the previous year. We are grateful for the ongoing support of the Lord’s people. It is worth pointing out, though, that the employment of our assistant, Tom Millward, would have resulted in the use of reserves had a gift of £15,000 not been received. Significantly, the Building Fund has reduced by about £15,000 over the 12 months, primarily in order to pay for renewal of the central heating system. The fund is there for essential works such as this, but again this year no money could be made available from our regular income to keep it topped up. The receipt of a large sum from the sale of no 21 Park Road West is not the answer to our long term day to day financial needs. The question of how to use this money is yet to be addressed, but the first call on this (in terms of WPC needs) would probably be to invest some of it in the existing buildings to ensure they are well maintained and serviceable for years to come. It should not be used for salaries, utility bills, cleaning materials or any of our routine, day-today running costs.

Charity Matters

This report serves as the Annual Report of the Stable Trust (the charity behind the church). As such, mention must be made of a technical matter which came to the fore during the sale of the house. Upon examination of the trust deed by our legal advisers, it became apparent that the funds from the sale could be used only for the purchase of a building for public worship. This restriction needs to be removed and a process is in train whereby a “scheme” to alter the trust deed will be announced, considered by the trustees, and, if approved, submitted to the Charity Commission for them to consider. If they agree, it will remove the restriction and allow the trustees to apply the funds in furtherance of the Christian faith (ie not be restricted to buying another building for worship). Pending such an outcome, the funds are held in the bank and cannot be touched.

The legal advisers have helped us “tidy up” membership of the trust, and the whole process has underlined the potential benefits of moving towards a more modern form of trust deed. The objectives will not change, but the governance structure in which the trust becomes a “body” (a legal entity in its own right) will bring it into line with current practice among the churches. This is work which will go on behind the scenes, and will have no direct impact on anything taking place in the life and work of the church.

Conclusion

We thank God for His unfailing goodness. We have been blessed in so many ways during the year, not least in being able to configure the building so that two floors are used when required. In the early stages of the pandemic, public live broadcasts over YouTube were an aid for some, but we see no justification for prolonging this now that public health measures have advanced, coupled with our own efforts to provide reasonable assurance regarding the safety of meeting. (We are committed to making CD recordings freely available to any who cannot come out to services). We urge all who consider themselves to be part of this work to commit themselves to “gathering together” – and to do so regularly, in order to worship, to encourage, and to be encouraged.

“And they continued steadfastly in the apostles’ doctrine and fellowship, in the breaking of bread, and in prayers” (Acts 2:42)

We thank God that we can freely follow this pattern set forth in His word. His word is sufficient. We pray that He will continue to work in and through us during the year ahead.

The StableTrust Trustees Report and Financial Statements Registered Charity Number 251378 For the year ended 31 December 2021

The Stable Trust Trustees Report and Flnanclal Statements For the year ended 31 December 2021 Report of the Trustee IrFtroductSon The Trustees presentthelrrep0rtth the flnan(Jal statements of the charityforthe year ended3 1 Decenkner 2021. The Trustees have adopted the provisions of Accountlng and Reporting by Charltles.. Statement of RecomnEnded PracticeapplIcab tocharities prep3rin8theiraccwnts in accordancewlththe Flnancial Reportingstandard applKab In the UK and Republicof Ireland IFRS 1021 leffectl¥t lJanuary20151. stiurture.Governance and Management The charity is controled by Its governinE document, a deed of trust,and constltutes an unlncorporated charty. Regi5teredCharltynumber 251378. Prlncipa address West ParkChur¢h,Connaught Road, W0erhaMptOn, West Mldlands, WVI 4PN. Trustees S Doyle Ichairmanl P Bradley Gough A Male l Leadbeater A Sargent Csmith J Wilkes Independentexamlner Ronald l Bourike AGIB Iretlredl Signed for and on behaOf the Trustees: S Doyle Trustee: Date.. 19 August 2022

(HARITY (OMMISSION FOR ENGLAND ANO WALES Independent examiner's report on the accounts Section A Indep.pndent Exgminer's Report Report to th& trusteesl mernbers of The Stable Trust On a¢counts for tho year ended Charlty no (if any) 251378 31. December 2021 Set out on pages Receipls and Expendllure Account and Statement of Assets and Liabilities at 3111212021 pages 4 and 5 I report to the trustees on my examlnatlon of Ihe accounts of the al)ove charity I'lhe Trust") for the year ended 3111212021 Responslblllties and basls of report AS Ihe charity's trustees, you are responslble for the preparation of the accounts in accordance with the requirements ol the Charilles Act 2011 ("Ihe Acl">. I report In resp6d of my examlnation of the Trust's accounts carried out under section 145 of the 2011 Act and in caTrylng out my examination, I have followed all the applicable Directions given by the Charlty Commlsslon under section 145{5)(b) of the Act. Independent I have completed my examination. I confirm that no material matters have examiner's statement come to my attention in connection with the examination whlch gives mè cause to believe that In, any material respect.. the accountlng records ware not kept In accordancè with section 130 of the Charities Act,. or the accounts did not accord with the accounting records; or the accounts did not comply with the applicable requlrements concerning the form and conlent of accounts set out in the Charities (Accounls and Reports) Regulations 2008 other than any requirement that Ihe accounts give a 'true and fair, vlew which is not a matter consldered as part of an indèpandent examlnation. I have no concerns and have come across no other matters in connection with the examinatlon to which attention should be drawn In this report In order to enable a proper understanding of tho accounts to be reached. Pleas dgletp the words in the brackets if they do not apply. Slgned: Dale: 19th August 2022 Name: Ronald James BOURIKE Relevant professlonal quallfication(s) or body {If any): ACIB (retired) Address: 6 Edington Road, Wilney, Oxfordshlre, OX28 5YU IER Oct 2018

The Stable Tfust Trustees Reportand FlnèncSèl Staternent5 For the yearended 31 December 2021 Statement of Financial Activitie5 fortheyet7rended31 De¢ember2021 Unrestrlcted Funds 2021 Restricted Funds Z021 Total 2021 2020 Receipt5 Covenantwving Gift5 Inland Revenue MI50rYglf5 Cash offerlng Glft- No 21 Park Road West Loan repayment BènklnteTest Electricity5ub-statlon rent 47,237 15,000 17.952 17.051 6,695 2.100 400 47,Z37 15,000 17,952 17,051 6,695 2,100 400 47,704 30,000 9.670 7,717 4.230 68 13 13 13 106,455 106,455 99,402 Sde of Assets No.21 Park Road West 295,000 295,000 Total Recelpts 106,455 295.000 401,455 99.402 Expendlture Salarlesand PenOn$ Mi55ionaTygift5 Electric. Eas, water and Councll tax Bulldlngexpenses Insurance Audlo recordlng WlIngpeChers Sundries Outreach Glfts Legal costs Interestfree loar¢ 141.1561 126,2011 17.2951 122,9841 12.8111 12,4161 11,9891 11,8051 16691 141.1561 126,2011 17,2951 P2,9841 12,8111 12,4161 11,9B91 11,8051 16691 11571 111.4541 14,8001 130,9361 117,9671 110,3321 15.2201 13.1361 12.8031 11,4211 12,0771 15951 18,5921 14.8001 12.8621 Total Payment5 1120,8751 12,8621 1123,7371 174,5021 Net Recelptsl IPawnents1 114,4201 292.138 277,718 24,900 Cash funds8t the start ofthe year 72,551 72,551 47,651 Coth fundsat theyearend 58.131 292,138 350,269 72,551

The Stable Trust Trustees Report and Flnanclal Statements For the Yearended 31 Jecember 2021 Statement of Assets and Liabilities osot31 L)ecember2021 zozi 2020 Cash Funds Cash current account Cad)- $8¥ingsaccounts 293,IJ09 57,260 72.543 Net assets at the yewend 350,269 72,551 The fSnanclalstatements wereapprrNed bytheTrustees and signedon its behalf by.. S Doyle Trustee Dlrector. Date.. 19 Augu5t2022

The StableTrust Trustee5 Reportand Flnènclal Statement5 For the year ended 31 December 2021 Notes (AormlngpartoftheAlnondo15totementsJ Basls of preparatlon The flnancial statements of the Charlty, which is a public beneflt entlty under FRS 102, have been prepared wi accordantrwith the CharitlesSORPIFRS 1021'Ac¢ountlngand Reporting bycharltles.. Statementof RecOnnded Practice applicable to charitie5 preparlng their accounts In accordan with the Flnanclal Reporting Standard appllcable In the UK and Republic of Ireland IFRS 1021 leffertive l January 20151,, Flnancial Reporting Standard 102'The Finantkl Reportingstandardapplicableln the UK and Rewblic of Ireknd, and the Charitie5 Act2011. The financial statements have beenprepared underthe historlcal costconvention. A¢countinBpolicles fJJ Incomeandexpenditure Income All Income is recognlsed in the Statementof FlnanclalACtlfjtleson¢ethe Charity has entitlementtothe fund5, It is probable thatthe income will be receThied and the amount can be measured reliably. Expendkure Llabilltles are reCnIseda5 expenditureas soonasthere is a legal or constructive obligation commlttln8thechaTty to thatexpenditure, it is probablethata transferof economic benefitswill be required In settlementandtheamount of the obllgatlon can be measured rellaE4y. Expenditure 55 accountedfor onan accruals basisand has been clas5ffEd under heading5 that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headingsthey have been allocated to activltleson a basi5 consi5tentwith the use of resouices. (iii) faxation The Charity Is exemptfromtax on its charitableactivitles. {bJ Funds Unrestricted funds can be used in accordance with the charitsble objective5 atthe discretion of the Trustees. Restricted fuwls can only be used for partlcular restrfcted puiposes within the objects of the ch3rty- Re5tiicknns arise when specified bythe donor or when fundsare raised for partlcularre5triLted purpose5. Further expl¥nalK)n of the nature a17d purp05eof each fu1 is included in the notesto the fSnancL415tstements.

The Stable Trust Trustees Repert and Flnanclal Statement5 For the yearended 31 Decetnber 2021 Notes (continued) Trustees RemeratIon There were no Trustees, remulleration or other benefits for the year ended 31 December 2021 nor for the ye ended 31 December2021. There were no Trustees'expense5 paid for the yearended 31 December2021 nor forthe year ended 31 DeCernr 2020. MovemenllnFunds 31 Detember 2020 Net Movement ltt 31 Decomber 2021 Funds Vnrestricted Funds Restrlcted FUJKIS 72,551 14,420 292.138 58,131 292,138 Total 72,S51 177,718 350,269 Related partytransactis There were no relatedpartytransactions for theyearended 31 December202L