## **WEST PARK CHURCH, WOLVERHAMPTON – ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2023** ## **1 Details of Charity** Name: The Stable Trust (“the Church” and “The Trust”) Charity Registration No: 251378 Principal address: West Park Church, Connaught Road, Wolverhampton, WV1 4PN Names of Trustees: Steve Doyle, Robert Gough, Paul Bradley, Alan Male, John Wilkes, Adrian Sargent, Courtney Smith, Ian Leadbeater Church Elders: Andrew Whitehead (Minister), Steve Doyle and Adrian Sargent Church Deacons: Paul Bradley and Courtney Smith Banker: Santander Savings accounts: CAF Bank, Nationwide and Hampshire Trust Bank. Independent Examiner: Peter Jelfs ## **2 Governance** The Charity is an unincorporated charitable trust established under a Deed of Trust dated 22 December 1967. The current practice is for office holders in the Church, namely Elders and Deacons, to be appointed as Trustees. The day to day operations of the Trust are conducted in the name of West Park Church. The Trustees held an AGM and one business meeting during the year. The Elders of the Church meet formally at least twice per month, and meet (on separate occasions) with the Deacons once each month. ## **3 Objectives** The objective of the Trust is to promote the Christian Faith for the public benefit in accordance with the Deed of Trust dated 22 December 1967, in particular, but not exclusively, by spreading the Gospel of the Lord Jesus Christ through the following: - Maintaining a place of public worship for the service of Almighty God - Maintaining and observing its Christian doctrines - Helping to support and care for missionaries worldwide - Informing members, friends and the wider public of the charity’s activities - Promoting spiritual teaching in a wide sense - Promoting a clear set of values on morals and ethics - Encouraging righteous behaviour for the benefit of public well-being. • Encouraging every Church member to be an ambassador for the gospel and to use their initiative and take opportunities to speak about their faith, and providing pastoral care for Church members. ## **4 Public Benefit** 1 The Trustees have regard for the Charity Commission’s guidance on the public benefit requirement. They are aware of the need to ensure that West Park Church, Wolverhampton is meeting its obligation to provide public benefit. The Church’s purposes comply directly with the following of the Charities Acts descriptions of “charitable purpose” a) the advancement of religion [In each of the objectives listed in paragraph 3 above, the objective is to advance the Christian religion] b) the prevention or relief of poverty [From time to time needs and situations are made known to the Church leaders, by the charity’s friends, so that the church can be involved in giving to relieve poverty] c) the advancement of education [Theological education is advanced through the specific work of those appointed to preach and teach within the Church and by those missionaries who are supported by the Church] The promotion of the Christian faith tends to lead to deep-rooted changes for the better in the lives of those who embrace it, and these changes are evident in the behaviour and attitude of Church members, for example in the way they conduct themselves as citizens, employees, parents, and neighbours. This is also borne out in the corporate life of the Church as it provides a place where people are befriended, encouraged and helped in various ways through the weekly activities and special events **.** ## **5 Achievements and Performance** The year under review was marked by a continued emphasis on the ministry of the word (preaching/teaching) and prayer, with Bible teaching every Sunday, and at the mid-week meeting. The minister takes most Sunday services and contributes to many mid-week meetings. A weekly meeting for young people aged between 12 and 21 has continued to be well supported and appears to be effective. The Church is also heavily involved in a weekly open air meeting in the City Centre, where the Christian message is proclaimed to passersby and literature given to bystanders. In 2023 the following **additional one-off activities** took place: - A presentation by Roop Chopra while he was home from India; - A meeting led by Slavic Gospel Association; - A presentation by Reach Across; - A presentation by the African Bible University; and - A presentation by Creation Ministries International. On the two Saturdays leading up to Christmas we distributed 2,000 leaflets around neighbouring properties advertising our Christmas services. Many of the sermons preached in the Church are uploaded onto a website dedicated to preaching, and feedback has shown that these are heard by people in the UK and in other countries. There was one baptism during the year, and the funeral of a long standing member. The Church promotes the Christian Faith through the work of partners in other places, and does this primarily through financial support and praying for their work to succeed. The groups in question have the same or broadly similar objectives to the Church, and in 2023 included the following: 2 - Roop Chopra, India - Denis and Edna Goodwin, Gibraltar - Slavic Gospel Association (Timothy Korches, Romania) (SGA) - Albanian Evangelical Mission (AEM) - Middle East Reformed Fellowship (MERF) - Pastors Training International (PTI) - Missionary Aviation Fellowship Most of these provide regular written reports thus demonstrating accountability to the Church. As the year closed the Church issued a call to Mr Andrew Barden to come to join the Church as its Assistant Pastor. The following factors affect the ability of the Church to achieve its objectives: - The availability of Church members to contribute their time, energy and financial resources to the life, work and witness of the Church. We recognise with pleasure that during this exceptionally challenging and difficult year, our members have taken it upon themselves to look out for one another, running errands, making phone calls and making sure that the most needy and vulnerable in particular are safe and well. - Ensuring training is given in all matters spiritual and temporal so that gifts and skills can be identified and developed, effective succession assured, and the future of the work safeguarded. ## **6 Financial Review** The independently examined financial statements for the year ended 31 December 2023 are presented alongside this report. (Note: As the Church’s receipts are less than £250,000, the Trustees have again opted for an Independent Examination of the Accounts). ## _A Financial Position_ The accounts for the year ended 31 December 2023 showed an operating loss of £5,416 with cash balances held of £4,749, and savings account balance of £351,503. ## _B Principal Financial Management Policies_ The Trust operates one current account. Monthly bank reconciliations are carried out on these accounts. Two signatures (from a list of three authorised signatories) are required for each cheque regardless of the amount. Savings accounts are held with CAF Bank, Nationwide and Hampshire Trust Bank. Two signatures (from a list of three authorised signatories) are required to disinvest any money from these accounts with any disinvestment only allowed to be transferred to the Trustees nominated Santander current account. Monthly management accounts are operated on a cash flow basis showing income and expenditure on a cash received basis. The annual audited accounts include a profit and loss account and balance sheet using an accruals basis. Property is valued in accordance with the last insurance valuation dated 16 November 2012. 3 Monthly management accounts are presented to the officers of the Church along with the presentation of quarterly cashflow statements to the Church. Annual accounts are presented at the Church AGM and audited accounts presented at a meeting of the Trustees of the Trust. These audited accounts are required to be submitted to the Charities Commission by 31 October each year. ## _C Reserves Policy_ The officers of the Church have set up savings accounts to meet any large unexpected expenses. Any surplus funds after the day to day operating running costs are transferred to these savings accounts. The Reserves Policy is reviewed annually by the officers of the Church in accordance with Charity Commission guidelines. D There are no funds held in deficit. The Trust’s policy is to never borrow any money from financial institutions. ## _E Principal funding sources_ The Church is financially dependent on the voluntary support of members and friends. Regular tax efficient giving is encouraged wherever possible and at the year-end there were several active individuals using various Gift Aid schemes to support the activities of the Church. Additional income is derived from individual gifts and bank interest. ## _F Depreciation of Assets_ The Trust does not hold any depreciating assets. Its principal fixed assets are property; the Church building and 20 Park Road West. ## _G Investments:_ Fixed asset investments - The Church is the beneficial owner (subject to relevant trusts) of the freehold property known as West Park Church, Connaught Road, Wolverhampton, and the adjoining property 20 Park Road West. The Church building was last professionally valued for re-instatement insurance purposes in 2012 and is presently index linked insured for £2.5 million with No.20 Park Road West insured for £345,000. The market value of 21 Park Road West, when sold in 2021, was c£300,000, and the near identical property 20 Park Road West would have been valued for a similar amount at the time. Other non-monetary fixed assets have not been valued in recent years. Liquid assets - the investment policy is to maintain a low-risk liquid position. The aim is therefore to maintain balances in accounts that attract market competitive deposit account bank interest but with low-risk institutions. Savings accounts specifically for charities are held with three financial institutions in order to spread the risk. ## _H Insurance Policy_ Our policy is to adequately insure the assets and other risks. Insurances held include: Buildings, Fixed Assets, Contents, Employers and Volunteers Liability, Public Liability, Property Owners Liability, Trustees Indemnity, Legal Expenses, Money, Occupational Personal Accident for Employees and Volunteers. ## _I Trustee Remuneration and Related Parties_ None of the Trustees receive remuneration or other benefit for their work for the charity. There was one related party transactions reported in the year between the Trust and a Trustee or third party with contractual relationships with the Trust. (Note: this related to a contract for electrical works, carried out by a relative of a certain Trustee. The conflict of interest was highlighted at the time and recorded appropriately in the minutes of the meeting concerned). There were no payments made to Trustees during the year. 4 ## _J Fundraising_ The Trust does not undertake material fundraising activities. ## **7 Plans for Future Periods** Additional efforts to promote the Christian Faith will be considered in the year ahead, including continuing open air preaching, distributing literature, continuing to train and equip Church members, and holding special meetings including MERF and SGA. It is also hoped to provide training in various aspects of Church life and discipleship, in order to equip members for works of service and, if possible, to extend the pool of leaders in various aspects of Church life, particularly in recognised leadership roles, including trusteeship. It is acknowledged that a conscious and systematic approach will be required in order to pass on the required knowledge so that more people are equipped in every aspect of leading and running a church. ## **8 Trustees’ Responsibilities in Relation to the Financial Statements** The Trustees are responsible for preparing the Trustee’s Report and the financial statements in accordance with applicable law and UK Accounting Standards (UK Generally Accepted Accounting Practice). They are responsible for preparing financial statements for each financial year that give a true and fair view of the Trust’s incoming resources and application of resources during the period, and its “state of affairs” at the end of each year. In preparing the financial statements, the trustees are required to: - select suitable accounting policies and then apply them consistently - observe the methods and principles in the Charity Commission requirements - make judgements and estimates that are reasonable and prudent - prepare the financial statements on the going concern basis - state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011. They are also responsible for safeguarding the assets of the Trust and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. ## **9 Statement of Disclosure of information to Independent Examiner** There is no relevant examination information of which the Trust’s independent examiner is unaware; and the Trustees have taken all steps that they ought to have taken to make themselves aware of any relevant examination information and to establish that the examiner is aware of that information February 2024 5 The Stable Trust Trustees Report and Financial Statements Registered Charity Number 251378 For the year ended 31 December 2023 The Stable Trust Trustees Report and Flnancl3I Statements For the year ended 31 December 2023 Report of the Trustee Introductlon The Trustee5 present their report with the financial statemefits of the charity for the year ended 31 December 2023. The Trustees have adopted the provisions of Accounting and Reporting by Charit￿$.. Statement ol Recommend Praetice applicable to charitie5 preparingtheiraccounts in accordance with the Financial Reportin8 standard applicable In the UK and Republic of Ireland IFRS 1021 (effective I january 20151. Strurtyre, Governance and Management The charity Is controlled by it5 governing document, a deed of trust, and constitutes an unincorporated charity. Reglsterèd Chartty number 251378. Prlntlpal address West Park Church, Connaught Road, W0￿erhaMpt0n, West Midlands, WVI 4PN. Tru5tee5 S Doyle (Chairman) P 14radley R Gough l Leadbe3ter A Male A Sargent C Smith I Wilke5 Independent examiner Peter Jelfs Si8ned for and behalf ol the Trustees- S Doyle Trustee.. Date.. t.Lk.Z(k CHARITY (OMMissinN l Ok l N(Il ANII AND WAIIS Independent examiner's report on the accounts Section A Independent Examiner's Report Report to the trustees The Stable Trust On accounts for the year ended 3191 December 2023 Charity no Ilf any) 251378 Set out on pages I report to the trustees on my examination of the accounts of the above charity (Yhe Trusy) for the year ended 3111212023. Responsibilities and basis of report As the charity's trustees, 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 account5 carried out under section 145 of the 2011 Act and in carrying out my examination, I have followed all the applicable Directions given by the Charity Commission under section 145(5){b) of the Act. Independent I havo completed my examination. I confirm that no material matt8rs hav8 examinerfs statement come to my attention in Gonnection with the examination which gives me cause to believe that in, any material respect= the accounting records were not kept in accordance 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 requirements conceming the forni and content of accounts set out in the Charities (A¢¢ounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fair, view which is not a matter considered as part of an independent examination. I have no COn￿rn$ and have come across no other matters in connectK)n 'th the examination to which attention should be drawn in Ihis report in der to enable a proper uThlerstanding of the accounts to be reached. Signed: Name: Peter Jelfs Relevant professional qualification(s) or body lrfany): FCA Address.. 1 Cartwright Avenue Wor¢8ster WR4 ONZ IER Oct 2018 The StableTru5t Trustees Report and FiTronclal Statements For the year ended 31 December 2023 Statement of Financial Activities Jor the yeurended 31 DEcember2023 2023 2022 Retelpts Covenant givln¥ Glfts Inland Revenue Missionary gifts Offering Loan repayment Bank interest Bank compensètion Electrlclty sub-st*lon rent 45,63B 1,495 10,530 9,322 11,861 47,442 15,150 15,071 17,426 8,098 4,400 1,142 150 13 7,678 13 Total Recelpis 86,537 108,892 ExpendSture 53lariES and pensions Ml&sionèry gift5 Electric, gas, water, and Councll ta Bullding expense5 Insurance Audio recDrding Visiting preathers Sundrle5 Outreach G1ft5 Legal tosts 141.1741 118,4721 111.7441 17,5141 12,6151 11,9301 12,5B21 12,1401 11.3671 11,3591 11,2561 147,7411 127,0761 17,4041 13,3301 12,2711 11,6901 11,2751 11,3011 12421 12,9121 Total Payments 191.9531 197,4931 Net IPayment51 l Receipts 15A161 11,399 Cash fund5 3tthe stsrtofthe year 361,658 350.269 Cash ftJnd5 atthe year end 356,251 361,668 The Stable Trust Trustees keport and Flnancial Statements For the year ended 31 December 2023 Statement of Assets and Liabilities s ut 31 Decenpber2023 2023 2022 C35h Funds Cash- current attount Cash- savings accounts 4,749 351.503 106,202 255,466 Net assets al theyear end 356,Z52 361,668 The flnantial staternents were approved by the Trustee5 and signed on it5 behalf by.. S Doyle Trustee: Date.. The StablÈ Trust TrustÈès Report aad Financial Staternents For the year ended 31 December 2023 Note5 (ftimiin9 Port olthefjnonrial stutementsj Basls of preparation The financial 5t3tements ol the Charity. which is a public benefit entity under FR5 102, have been prepared in accordènte with the Charities SORP IFRS 1021'AccountinE and Reporting by Charities.. Staterllent of Recommended Prattice applicable to charities preparing their account5 in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 (effective I larFuary 20151,, Fin3n¢ial Reportirg Standard 102'The Financial Reporting Standard applicable the UK and Republic of Ireland, and thè Charities Act 2011. The financial statements have been prepared ￿nder the hlstorical cost convet)tlon. Actounting policies fo) Income ohd expenditure Income All Income is recognised in the Statement of Financial Activities once the Charity has entitlement to the funds, it is probable that the income wlll be received, and the amount can be me35ured reliablv. (iij Ewenditure LiabilitSes ale Tecogni5ed a5 expenditure as soon as there 15 a legal or constructive obligatlon committing the charity to that expenditure, 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 atcounted for on an accruals basis and has been classifled under headillgs that aggregate all cost related to the category. Where costs cannot be directly attributed to p&rticular headings, they have been allocated to activities on a basis conslstent with the use of resources. Toxation Vhe Charity Is exempt from tax on it5 charltable activities. Ib) Funds Unrestricted funds can be used in accordance with the charitable objective5 at the discretion of the Trustees. Restrlcted fund5 can only be used for particular restricted purposes within the object5 of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restrlcted purp05e5. Further explanation of the nature and purpose of each fund 15 included in the notes to the financlal statements. The Stable Trust Trustees Report Ènd Financial Staternents For the year ended 31 December 2023 Notes (corttinued) Trustees Remuneration There were no Tru5tees' remuneration or other benefits for the year ended 31 December 2023 ntsr lor the year ended 31 Oecember 2022. There were no Trustees, expense5 paid for the year ended 31 Decernber 2023 nor for the year ended 31 December 2022. Movement In Funds 31 DÈtember 2022 Net •Ao¥entent In 31 December 2023 Funds Unrestricted Fund5 Restrlrted Funds 68,679 292,989 287.573 1292,9891 356,25Z Total 361.66B 15.4161 356,252 Related party transactlons There were no related party transactions for the year ended 31 Oecember 2023. CHARITY (OMMissinN l Ok l N(Il ANII AND WAIIS Independent examiner's report on the accounts Section A Independent Examiner's Report Report to the trustees The Stable Trust On accounts for the year ended 3191 December 2023 Charity no Ilf any) 251378 Set out on pages I report to the trustees on my examination of the accounts of the above charity (Yhe Trusy) for the year ended 3111212023. Responsibilities and basis of report As the charity's trustees, 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 account5 carried out under section 145 of the 2011 Act and in carrying out my examination, I have followed all the applicable Directions given by the Charity Commission under section 145(5){b) of the Act. Independent I havo completed my examination. I confirm that no material matt8rs hav8 examinerfs statement come to my attention in Gonnection with the examination which gives me cause to believe that in, any material respect= the accounting records were not kept in accordance 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 requirements conceming the forni and content of accounts set out in the Charities (A¢¢ounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fair, view which is not a matter considered as part of an independent examination. I have no COn￿rn$ and have come across no other matters in connectK)n 'th the examination to which attention should be drawn in Ihis report in der to enable a proper uThlerstanding of the accounts to be reached. Signed: Name: Peter Jelfs Relevant professional qualification(s) or body lrfany): FCA Address.. 1 Cartwright Avenue Wor¢8ster WR4 ONZ IER Oct 2018