WALSALL INDEPENDENT EVANGELICAL CHURCH
Financial health, per its FY2024 accounts
The accounts state that the charity reported a net expenditure of £7,917 for the year, resulting in a decrease in total net assets from £328,128 to £320,211. The trustees confirm there are no material uncertainties regarding the charity's ability to continue, and free reserves are managed to cover between two and twelve months of fixed expenditure. The charity holds unrestricted funds of £215,195 against a reserves policy that does not set a specific formula but anticipates sufficient levels for foreseeable needs.
What the accounts disclose
“The level of free reserves is not set as a specific formula but is anticipated to be between two and twelve months of the level of fixed expenditure over committed income.”
Trustees
- Mark Webbchair
- Neil Walker
- Ruth Marie Noake
- William John Daniel
Income and spending
| Financial year end | Income | Spending |
|---|---|---|
| 31/12/2024 | £120k | £128k |
| 31/12/2023 | £105k | £117k |
| 31/12/2022 | £141k | £97k |
| 31/12/2021 | £92k | £97k |
| 31/12/2020 | £88k | £86k |
Common questions
Is WALSALL INDEPENDENT EVANGELICAL CHURCH financially healthy?
The accounts state that the charity reported a net expenditure of £7,917 for the year, resulting in a decrease in total net assets from £328,128 to £320,211. The trustees confirm there are no material uncertainties regarding the charity's ability to continue, and free reserves are managed to cover between two and twelve months of fixed expenditure. The charity holds unrestricted funds of £215,195 against a reserves policy that does not set a specific formula but anticipates sufficient levels for foreseeable needs.
Funders of similar charities
| Funder | Similar charities funded | Amount to them |
|---|---|---|
| SANTANDER UK FOUNDATION LIMITED | 1 | £41k |
| THE FYRISH FOUNDATION | 1 | £10k |
| WEST ROW BAPTIST CHURCH | 1 | £2k |
| DUMBRECK CHARITY | 1 | £500 |