REGISTERED COMPANY NUMBER: 06993403 (England and Wales)

REGISTERED CHARITY NUMBER: 1133425

REPORT OF THE TRUSTEES AND

AUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

WAY CHURCH

(A COMPANY LIMITED BY GUARANTEE)

Page

Report of the Trustees

1

to

4

Report of the Independent Auditors

5

to

8

Statement of Financial Activities

9

Statement of Financial Position

10

Statement of Cash Flows

11

Notes to the Statement of Cash Flows

12

Notes to the Financial Statements

13

to

20

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 December 2024. The trustees have adopted the provisions of 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).

OBJECTIVES AND ACTIVITIES

Objectives and aims

The principal activity of the charitable company in the year under review was that of allowing the space created within the church to be occupied and enjoyed for the purpose of preaching and teaching the Gospel, in addition to being used for the benefit of the borough.

The aim for 2024 is to continue in this vein and to extend the charitable activities of the church.

Vision Statement

The reason Way exists is for all people to find their way to God. Our vision, based on Isaiah 40 v3-5, is to be a place where:

All people - no matter who they are, anyone and everyone is welcome in our church community

Can find their way - can engage whatever point they are at on their journey to faith

To God - we want all to become followers of Jesus, in deep relationship with Him, because He is the answer

We have set out some specific areas of focus for the next 5-10 years, as follows:

-

Establish Way Foundation - a vehicle to give financial support to other causes

-

To provide the resources people need to help them to follow Jesus, be changed by Jesus and do what Jesus would do

-

To develop a free Christian Counselling service

-

To develop a physical space at The Edge for the creation of a Creative Studio

-

To create new church communities

STRATEGIC REPORT

Achievements and performance

Overview of activities in 2024 and plans for 2025

We have continued to see growth across all our activities in 2024. Church attendance grew by approx. 18% on average across the year, which was also reflected in increased giving through regular church offerings and donations (year on year regular offerings increased by approx. 21%). We had 29 community groups by the end of 2024 covering a range of interests and activities and we have seen particular growth in our children's activities. In September 2024 we appointed a Families Co-ordinator and a new Waykids Leader, these roles will continue to develop the provision and support for children and families across Way.

The Community Grocery membership has continued to serve the community of Wigan, with over 3,000 members at the end of 2024. As well as regular smaller groups happening throughout the year, we also once again hosted a summer fun day and a Christmas Pantomime for Grocery members to enjoy, at no cost to themselves. We have also seen many grocery members engaged in other groups and gatherings.

We saw significant growth in the corporate hire of our rooms in 2024, including a significant increase in the number of free uses taken up by WMBC under their agreement with us, which has accelerated the time by which we expect the agreement to be fully utilised. Postcode Coffee House had an increase of around 23% in sales, which further increased the number of opportunities for us to engage with a range of people from our community.

The heart of all we do is to reach out to people and show them the love of God. We have continued to do this through our various church gatherings, hospitality in both the corporate hires and Postcode Coffee House, Community Grocery and by continuing to invest in future leaders through our engagement with church leaders in the Czech Republic.

During 2024, through Way Foundation, we were able to give to a number of other causes, both locally based and further afield. Through this we have continued to build strong links with The Deanery High School, once again funded a free Christmas panto for around 1,000 local primary school children, as well as providing funding for a sensory room at a local primary school and contributing to Wigan Youth Zone's Christmas campaign.

The staff and Directors have continued to work hard over the year to create welcoming environments, increase our income in the various income streams, and steward well the income that is received. We commit to this to ensure that Way Church remains at the forefront of a loving, growing, serving community that is fit for purpose now and for many years to come. We have made further progress towards our 5 in 10 vision, this includes re-occupying one of our leased units at the beginning of 2025 when the lease expired, and work has commenced to convert this into a Community Hub which will serve the people of Wigan, including a Community Counselling Centre (expected in 2026) and other features to engage with the community in general. As we move into 2025 our theme is MOVE, which expresses our desire to move forward with the vision, mobilise our teams and create real momentum.

During 2024 the board has taken advice from Jock James, who leads Life Church in Bradford. Jock regularly attends the trustee board meetings where he had provided invaluable input and challenge, sharing the benefits of his significant experience in the sector. Jock has brought invaluable input and challenge to our board meetings, sharing the benefits of his significant experience in the sector. In April 2025 we appointed Joy Sicilia Oliveros to the board and Ryan McLeod as an external advisor. We are continuing to explore further options to strengthen the board.

Financial review

Financial position

The Trustees and management set a budget (income and expenditure) at the start of each year and this is monitored closely throughout the year with the Trustees receiving monthly written reports as well as verbal reports during Trustee meetings.

Total income for the 12 months ended 31st December 2023 was £1,295,617 (2022: £1,147,830), with expenditure of £1,205,587 (2022: £1,108,621). There are no restricted reserves and therefore £91,030 (2022: £39,209) was added to the reserves of the Church.

Total repayments of £60,209 (2022: £74,142) were made during the year against the bank loans, leaving outstanding balances of £1,370,737 (2022: £1,430,949).

The charity has net current liabilities of £10,213 (2022: net current assets of £18,210), which is less than anticipated as the charity aims to keep this at a minimum of £150,000 to cover approximately 3 months employee costs and to act as operating capital.

Principal funding sources

The principal funding source is donations given by members of the congregation of the church.

Reserves policy

The Charity Reserves represent the unrestricted funds arising from past and current operating results.

Reserves are needed to bridge the gap between the spending and receiving of income and to cover

unplanned emergency repairs and other expenditure.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

Risk management

The trustees have assessed the major risks to which the charity is exposed: in particular those related to the operations and the finances of the Trust. The trustees are satisfied that the systems are in place to provide reasonable assurance against fraud and error.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Company number

06993403 (England and Wales)

Registered Charity number

1133425

Registered office

The Edge

Riveredge

Wigan

Greater Manchester

WN3 5AB

Trustees

Mr S Rodick (resigned 7/6/2024)

Mrs A L Burton

Mr D I Moore (resigned 27/2/2025)

Mr G Hogg

Mr B R Tarbuck

Ms C Atherton

Mrs J H S Oliveras (appointed 18/4/2025)

Auditors

Fairhurst Audit Services Ltd

Statutory Auditor

Chartered Accountants

Douglas Bank House

Wigan Lane

Wigan

Lancashire

WN1 2TB

STATEMENT OF TRUSTEES' RESPONSIBILITIES

The trustees (who are also the directors of Way Church for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) including Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".

Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to

-	select suitable accounting policies and then apply them consistently;

-	observe the methods and principles in the Charity SORP;

-	make judgements and estimates that are reasonable and prudent;

-	prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

In so far as the trustees are aware:

-	there is no relevant audit information of which the charitable company's auditors are unaware; and

-	the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information.

AUDITORS

The auditors, Fairhurst Audit Services Ltd, will be proposed for re-appointment at the forthcoming Annual General Meeting.

Report of the trustees, incorporating a strategic report, approved by order of the board of trustees, as the company directors, on 26 September 2025 and signed on the board's behalf by:

Mr B R Tarbuck - Trustee

Opinion

We have audited the financial statements of Way Church (the 'charitable company') for the year ended 31 December 2024 which comprise the Statement of Financial Activities, the Statement of Financial Position, the Statement of Cash Flows and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In our opinion the financial statements:

-	give a true and fair view of the state of the charitable company's affairs as at 31 December 2024 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended;

-	have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'; and

-	have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

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

Conclusions relating to going concern

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

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

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

Other information

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

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

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

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

-	the information given in the Report of the Trustees for the financial year for which the financial statements are prepared is consistent with the financial statements; and

-	the Report of the Trustees has been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Trustees.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

-	adequate accounting records have not been kept or returns adequate for our audit have not been received from branches not visited by us; or

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

-	certain disclosures of trustees' remuneration specified by law are not made; or

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

Responsibilities of trustees

As explained more fully in the Statement of Trustees' Responsibilities, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

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

Our responsibilities for the audit of the financial statements

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

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

Based on our understanding of the charity and the sector in which it operates, we identified that the principal risks of non-compliance with laws and regulations related to, but were not limited to, The Companies Act 2006, UK Tax, employment, pension and health & safety regulations and we considered the extent to which non--compliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements, such as the Companies Act 2006 and Charities Act.

We evaluated management's incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls) and determined that the principal risks were related to management bias in accounting estimates and judgements.

Our procedures to respond to risks identified included the following:

To identify risks of material misstatement due to fraud ("fraud risks") we assessed events or conditions that could indicate an incentive or pressure to commit fraud or provide an opportunity to commit fraud. Our risk assessment procedures included:

-

reviewing the financial statement disclosures and performing tests on supporting documentation to assess compliance with the provisions of relevant laws and regulations described as having a direct effect on the financial statements;

-

enquiring of management about actual and potential litigation and claims; their policies and procedures to prevent and detect fraud as well as whether they have knowledge of any acyl, suspected or alleged fraud;

-

performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud;

-

reading minutes of meetings of those charged with governance; and

-

in addressing the risk of fraud through management override of controls: testing the appropriateness of journal entries; assessing whether the accounting estimates, judgements and decisions made by management are indicative of a potential bias; and evaluating the business rationale of any significant transactions that are unusual or outside the normal course of business.

We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit.

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspections of regulatory and legal correspondence, if any. Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

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

Use of our report

This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Jane Dennis BA(Hons) FCA (Senior Statutory Auditor)

for and on behalf of Fairhurst Audit Services Ltd

Statutory Auditor

Chartered Accountants

Douglas Bank House

Wigan Lane

Wigan

Lancashire

WN1 2TB

26 September 2025

2024

2023

Unrestricted

Total

fund

funds

Notes

£

£

INCOME AND ENDOWMENTS FROM

Charitable activities

5

Church activities

1,141,959

723,213

Other fundraising activities

514,323

572,216

Investment income

4

140

1,188

Total

1,656,422

1,296,617

EXPENDITURE ON

Charitable activities

6

Church activities

522,438

695,702

Other fundraising activities

1,023,605

509,885

Total

1,546,043

1,205,587

NET INCOME

110,379

91,030

RECONCILIATION OF FUNDS

Total funds brought forward

3,674,080

3,583,050

TOTAL FUNDS CARRIED FORWARD

3,784,459

3,674,080

2024

2023

Total

Total

funds

funds

Notes

£

£

FIXED ASSETS

Tangible assets

12

5,238,302

5,250,958

CURRENT ASSETS

Stocks

13

8,899

7,874

Debtors

14

92,138

92,280

Cash at bank and in hand

35,702

73,498

136,739

173,652

CREDITORS

Amounts falling due within one year

15

(229,924

)

(183,865

)

NET CURRENT ASSETS

(93,185

)

(10,213

)

TOTAL ASSETS LESS CURRENT LIABILITIES

5,145,117

5,240,745

CREDITORS

Amounts falling due after more than one year

16

(1,265,858

)

(1,339,515

)

ACCRUALS AND DEFERRED INCOME

19

(94,800

)

(227,150

)

NET ASSETS

3,784,459

3,674,080

FUNDS

20

Unrestricted funds

3,784,459

3,674,080

TOTAL FUNDS

3,784,459

3,674,080

The financial statements were approved by the Board of Trustees and authorised for issue on 26 September 2025 and were signed on its behalf by:

Mr B R Tarbuck - Trustee

Cash flows from operating activities

Cash generated from operations

1

151,754

145,513

Interest paid

(109,037

)

(106,132

)

Interest element of hire purchase or finance lease rental payments paid

-

(106

)

Net cash provided by operating activities

42,717

39,275

Cash flows from investing activities

Purchase of tangible fixed assets

(18,997

)

(20,168

)

Sale of tangible fixed assets

-

300

Interest received

140

1,188

Net cash used in investing activities

(18,857

)

(18,680

)

Cash flows from financing activities

Loan repayments in year

(61,656

)

(60,210

)

Capital repayments on HP in year

-

(307

)

Net cash used in financing activities

(61,656

)

(60,517

)

Change in cash and cash equivalents in the reporting period

(37,796

)

(39,922

)

Cash and cash equivalents at the beginning of the reporting period

73,498

113,420

Cash and cash equivalents at the end of the reporting period

35,702

73,498

1.	RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES

2024

2023

£

£

Net income for the reporting period (as per the Statement of Financial Activities)

110,379

91,030

Adjustments for:

Depreciation charges

31,652

36,247

Profit on disposal of fixed assets

-

(172

)

Interest received

(140

)

(1,188

)

Interest paid

109,037

106,132

Interest element of hire purchase and finance lease rental payments

-

106

(Increase)/decrease in stocks

(1,025

)

78

Decrease/(increase) in debtors

142

(34,140

)

Decrease in creditors

(98,291

)

(52,580

)

Net cash provided by operations

151,754

145,513

2.	ANALYSIS OF CHANGES IN NET DEBT

At 1/1/24

Cash flow

At 31/12/24

£

£

£

Net cash

Cash at bank and in hand

73,498

(37,796

)

35,702

73,498

(37,796

)

35,702

Debt

Debts falling due within 1 year

(70,000

)

-

(70,000

)

Debts falling due after 1 year

(1,300,739

)

61,657

(1,239,082

)

(1,370,739

)

61,657

(1,309,082

)

Total

(1,297,241

)

23,861

(1,273,380

)

1.	STATUTORY INFORMATION

Way Church is a charitable company, limited by guarantee, registered in England and Wales. The charitable company's registered number and registered office address can be found in the Report of the Trustees.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charitable company, which is a public benefit entity under FRS 102, 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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The principal accounting policies adopted in the preparation of the financial statements are set out below.

The Trustees consider that there are no material uncertainties regarding the charitable company's ability to continue as a going concern.

Income

Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the item(s) of income have been met, it is probable that the income will be received and the amount can be measured reliably.

Donations are recognised when receivable. Income from Gift Aid tax reclaims is recognised for any donations with relevant Gift Aid certificates. Any amounts of Gift Aid not received by the year-end are accounted for in income and accrued income within debtors.

Income received in advance for any future event is deferred until the criteria for income recognition is met.

Coffee shop income is recognised on point of sale.

Where income has related expenditure (as with fundraising or coffee shop income), the income and related expenditure are reported gross in the Statement of Financial Activities.

Expenditure and irrecoverable vat

Expenditure is recognised once there is a legal or constructive obligation to make a payment 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 accounted for on an accruals basis.

Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.

Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Governance costs

Governance costs are those incurred in connection with administration of the charity and compliance with constitutional and statutory requirements.

Support costs

Support costs include those relating to the finance function.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold & long leasehold property

-

not provided

Motor vehicles

-

33% on cost

Office equipment

-

20% on reducing balance

No depreciation has been provided on freehold property on the grounds that the depreciation charge and accumulated depreciation are not material. This is due to the high residual value of the land and building. The company performs an annual maintenance review and has a policy and practice of regular maintenance and repair, such that the asset is kept at its previously assessed standard of performance, and it is unlikely to suffer from economic or technological obsolescence.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

The company is considered to pass the tests set out in Sch. 6, para1 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes.

Accordingly, the company is potentially exempt from taxation in respect of income received to the extent that such income is applied exclusively to charitable purposes.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Unless stated otherwise in the notes to the financial statements, income and expenditure is unrestricted.

Pension costs and other post-retirement benefits

The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

Financial instruments

The company has elected to apply the provisions of FRS 102 Section 11 'Basic Financial Instruments' to all of its financial instruments.

The following assets and liabilities are classified as financial instruments; bank accounts, trade debtors, trade creditors, bank borrowings and accruals.

Financial instruments that are payable or receivable within one year are measured initially and subsequently at the undiscounted amount of the cash or other consideration that is expected to be paid or received.

3.	CRITICAL ACCOUNTING JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY

In the application of the charity's accounting policies, the trustees are required to make judgements, estimations and assumptions about the carrying value of assets and liabilities that are not readily apparent from other sources.

The estimates and underlying assumptions are reviewed on an ongoing basis.

No critical accounting estimates or judgements have been made by the trustees during the preparation of these accounts.

4.	INVESTMENT INCOME

2024

2023

£

£

Deposit account interest

140

1,188

5.	INCOME FROM CHARITABLE ACTIVITIES

2024

2023

Other

Church

fundraising

Total

Total

activities

activities

activities

activities

£

£

£

£

Offerings and donations

562,201

2,861

565,062

595,574

Gift Aid

114,024

-

114,024

105,613

Fundraising events

23,080

678

23,758

9,013

Coffee shop income

-

319,238

319,238

259,539

Grants

-

4,225

4,225

1,000

Miscellaneous income

-

8,613

8,613

12,013

Commercial letting

-

46,806

46,806

46,422

Concerts

72,829

-

72,829

17,176

Conferencing

214,931

131,902

346,833

108,090

Arena (new build hire)

154,894

-

154,894

140,989

1,141,959

514,323

1,656,282

1,295,429

6.	CHARITABLE ACTIVITIES COSTS

Support

Direct

costs (see

Costs

note 7)

Totals

£

£

£

Church activities

522,276

162

522,438

Other fundraising activities

1,017,846

5,759

1,023,605

1,540,122

5,921

1,546,043

7.	SUPPORT COSTS

2023

2022

£

£

Auditors remuneration

4,617

4,856

Fees paid to 3rd party in relation to accountancy support

990

20,582

8.	NET INCOME/(EXPENDITURE)

Net income/(expenditure) is stated after charging/(crediting):

2024

2023

£

£

Auditors' remuneration

5,759

4,617

Depreciation - owned assets

31,653

36,247

Surplus on disposal of fixed assets

-

(172

)

9.	TRUSTEES' REMUNERATION AND BENEFITS

No remuneration or benefits are paid to the trustees in respect of their duties as trustees.

Further details of these transactions are reported under Related Party Transactions.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 December 2024 nor for the year ended 31 December 2023.

10.	STAFF COSTS

2024

2023

£

£

Wages and salaries

745,259

554,494

Social security costs

45,616

33,857

Other pension costs

9,804

8,014

800,679

596,365

The average monthly number of employees during the year was as follows:

2024

2023

Paid employees

58

55

No employees received emoluments in excess of £60,000.

11.	COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

Unrestricted

fund

£

INCOME AND ENDOWMENTS FROM

Charitable activities

Church activities

723,213

Other fundraising activities

572,216

Investment income

1,188

Total

1,296,617

EXPENDITURE ON

Charitable activities

Church activities

695,702

Other fundraising activities

509,885

Total

1,205,587

NET INCOME

91,030

RECONCILIATION OF FUNDS

Total funds brought forward

3,583,050

TOTAL FUNDS CARRIED FORWARD

3,674,080

12.	TANGIBLE FIXED ASSETS

Freehold

& long

leasehold

Motor

Office

property

vehicles

equipment

Totals

£

£

£

£

COST

At 1 January 2024

5,082,157

11,266

407,191

5,500,614

Additions

13,795

-

5,202

18,997

At 31 December 2024

5,095,952

11,266

412,393

5,519,611

DEPRECIATION

At 1 January 2024

-

3,532

246,124

249,656

Charge for year

-

1,547

30,106

31,653

At 31 December 2024

-

5,079

276,230

281,309

NET BOOK VALUE

At 31 December 2024

5,095,952

6,187

136,163

5,238,302

At 31 December 2023

5,082,157

7,734

161,067

5,250,958