REGISTERED CHARITY NUMBER: 1052619 Report of the Trustees and Unaudited Financial Statements for the Year Ended 31 March 2025 for Wellspring Community Church Daniel Sam Limited Chartered Accountants 61 Plodder Lane Farnworth Bolton BL4 0BX
Wellspring Community Church Contents of the Financial Statements for the Year Ended 31 March 2025 Report of the Trustees Independent Examiner's Report Statement of Financial Activities Balance Sheet Notes to the Financial Statements Detailed Statement of Financial Activities Page 1 to 3 4 5 6 7 to 10 11 to 12
Wellspring Community Church Report of the Trustees for the Year Ended 31 March 2025 The trustees present their report with the financial statements of the charity for the year ended 31 March 2025. 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 As stated in our constitution the objects of the church are, for the benefit of the public,: - to advance the Christian faith in accordance with the statement of faith of Assemblies of God in such ways and in such parts of the United Kingdom or the world as the church council from time to time think fit; - to relieve sickness and financial hardship and to promote and preserve good health by the provision of funds, goods or services of any kind including through the provision of counselling and support in such parts of the United Kingdom or the world as the church council from time to time think fit; and - to advance education in such ways and in such parts of the United Kingdom or the world as the church council from time to time think fit. The management team continue to be guided by the Commission's advice in relation to our obligations to be of benefit to the public and certainly the food pantries are a great benefit to our local communities as are our meetings. We are also keen to be a source of spiritual blessing to our community as our name implies and the management team and pastor Page 1
Wellspring Community Church Report of the Trustees for the Year Ended 31 March 2025 ACHIEVEMENT AND PERFORMANCE Charitable activities Attendance and meetings All of the Sunday church services are now run live. We still use Zoom. As in the last report, we have seen steady and sustained growth. Pastoral Teams The pastoral oversight of the church is going from strength to strength. We are building on strengthening the pastoral team. We continue to reach out to our members and it is having a noticeable impact in the lives of many. Little Fish - Parent and Toddler Group Little Fish remains in hibernation. As we move into the next church year, we will start to look at what we will do, with this service, moving forwards. Sunday School The Sunday School is now back up and running. Again, as we move into the next year we will look at what we want to do, in order to move this to the next phase. The Feed The Feed remains suspended. However, works do continue with the youth and young people of the church. The Well of Hope Food Pantry The Well of Hope Food Pantry continues to be an incredible resource for the local community. We rely heavily on donations from local supermarkets, Fare-share and our own church members. Many give sacrificially. We have also initiated a scheme whereby church members can sponsor a family for as many weeks as they are able to. This is also growing in size. This has proven to be the major source of community outreach by Wellspring Community Church. As a result we also see clients of The Well of Hope Food Pantry attending Sunday services and mid-week services. The next year will see continued advance, of the community outreach, that WoHFP affords the church to be a part of. Missions Wellspring Community Church is committed to Mission. As we move into the next church year we will be assessing other support options for Mission outreaches. FINANCIAL REVIEW Principal funding sources The charity raises most of the general funds it needs to carry on its activities from within its own membership and congregation. Reserves policy The charity maintains a contingency fund of f5,000 which is considered appropriate to the charity's needs and activities. However, this is up for review as part of the ongoing financial review policies in place. FUTURE PLANS The leadership of the church are continuing their focus on improving and maintaining the church facilities, including the church building. Work has been done in the men's toilets and the ladies' toilets has now had a major overhaul and refurbishment. This will be completed during the next financial year. The church needs major work, so we continue to complete a feasibility study and assess what the next steps required are. These initiatives are ongoing. Moving Forward Spiritually, we, as a leadership team, remain committed to the growth and development of the church through the preaching and teaching of God's word, worship, prayer, relationships, and outreach. STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document The charity is controlled by its governing document, a deed of trust and constitution adopted on 16 March 2015 as an unincorporated charity. Page 2
Wellspring Community Church Report of the Trustees for the Year Ended 31 March 2025 STRUCTURE, GOVERNANCE AND MANAGEMENT Organisational structure The management of the charity is by a church council. The minimum number of members of the church council is three. The premises that the charity owns and occupies is held in trust by Assemblies of God Property Trust. Wider network The charity remains in fellowship and relationship with the churches which form the Assemblies of God network whose National Ministry Centre is based in Mattersey, Doncaster. REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number 1052619 Principal address Brendon Avenue Manchester M40 9DN Trustees Rev A Taylor PS Cassidy RL King P G Burdon Independent Examiner Daniel Sam Limited Chartered Accountants 61 Plodder Lane Farnworth Bolton BL4 OBX Approved by order of the board of trustees on. 23/10/2025. ... and signed on its behalf by: REV AL TAYLOR REV.AL TAYLOR (Oct 23. 2025.11:02:38 GMT†1)... Rev A Taylor - Trustee Page 3
Independent Examiner's Report to the Trustees of Wellspring Community Church Independent examiner's report to the trustees of Wellspring Community Church I report to the charity trustees on my examination of the accounts of Wellspring Community Church (the Trust) for the year ended 31 March 2025. Responsibilities and basis of report As the charity trustees of the Trust 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 accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of Independent examiner's statement I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or the accounts do not accord with those records; or the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts 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 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. Gracian Daniel-Sam ACA Daniel Sam Limited Chartered Accountants 61 Plodder Lane Farnworth Bolton BL4 OBX Date: 23/10/2025 Page 4
Wellspring Community Church Statement of Financial Activities for the Year Ended 31 March 2025 Notes INCOME AND ENDOWMENTS FROM Donations and legacies Investment income Total 2 31.3.25 Unrestricted fund 81,449 800 82,249 EXPENDITURE ON Charitable activities Ministry Mission Administration Upkeep of church premises Other Total 37,370 12,838 6,753 16,154 1,261 74,376 7,873 NET INCOME RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD 330,471 338,344 The notes form part of these financial statements Page 5 31.3.24 Total funds £ 61,329 411 61,740 35,420 10,584 3,899 8,276 637 58,816 2,924 327,547 330,471
Wellspring Community Church Balance Sheet 31 March 2025 FIXED ASSETS Tangible assets CURRENT ASSETS Debtors Prepayments and accrued income Cash at bank and in hand Notes 6 7 31.3.25 Unrestricted fund 260,365 6 830 81,509 82,345 (4,366) 77,979 31.3.24 Total funds 251,045 80,802 CREDITORS Amounts falling due within one year 8 (1,376) NET CURRENT ASSETS 79,426 TOTAL ASSETS LESS CURRENT LIABILITIES 338,344 330,471 NET ASSETS FUNDS Unrestricted funds TOTAL FUNDS 338,344 330,471 338,344 338,344 330,471 330,471 The financial statements were approved by the Board of Trustees and authorised for issue on . 23/10/2025... …........ and were signed on its behalf by: REV AL TAYLOR REVAL TAYLOR (OC 23. 202511:02:38 GMT+1) A Taylor - Trustee Paul Burdon . Paul Burdon (Oct 16, 2025 10:18:25 GMT+1)| P G Burdon - Trustee The notes form part of these financial statements Page 6
Wellspring Community Church Notes to the Financial Statements for the Year Ended 31 March 2025 1. ACCOUNTING POLICIES Basis of preparing the financial statements The financial statements of the charity, 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 Charities Act 2011. The financial statements have been prepared under the historical cost All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. Expenditure labilities are recognised as expenditure as soon as there is a legal or constructive obligation committing th harity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement an the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. Tangible fixed assets Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. Freehold property Motor vehicles Furniture and equipment not provided 20% on cost - 20% on cost Taxation The charity is exempt from tax on its charitable activities. 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. Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. Pension costs and other post-retirement benefits The charity operates a defined contribution pension scheme. Contributions payable to the charity's pension scheme are charged to the Statement of Financial Activities in the period to which they relate. Page 7 continued...
Wellspring Community Church Notes to the Financial Statements - continued for the Year Ended 31 March 2025 ri l INVESTMENT INCOME Rents received Deposit account interest 31.325 800 800 31.3.24 400 11 411 3. 4. TRUSTEES' REMUNERATION AND BENEFITS Trustees' salaries Trustees' pension contributions to money purchase schemes 31.325 26,750 615 27,365 31.3.24 25,000 563 25,563 The above remuneration is in respect of Rev A L Taylor in his role as minister (as permitted by the charity's constitution) and not in his role as a trustee. Trustees' expenses There were no trustees' expenses paid for the year ended 31 March 2025 nor for the year ended 31 March 2024. STAFF COSTS The average monthly number of employees during the year was as follows: Ministry Cleaning 31.3.25 1 1 31.3.24 1 1 2 2 5. No employees received emoluments in excess of £60,000. INDEPENDENT EXAMINER'S REMUNERATION The amount payable to the Independent Examiner for carrying out the final preparation and independent examination of these accounts is £396 (2024: £385). Page 8 continued...
Wellspring Community Church Notes to the Financial Statements - continued for the Year Ended 31 March 2025 6. TANGIBLE FIXED ASSETS 7. 8. Freehold property Motor vehicles Furniture and equipment Totals COST At 1 April 2024 Additions At 31 March 2025 DEPRECIATION At 1 April 2024 Charge for year At 31 March 2025 NET BOOK VALUE At 31 March 2025 At 31 March 2024 250,000 800 - 250,000 800 4,823 10,581 15,404 255,623 10,581 266,204 : 640 160 800 3,938 1,101 5,039 4,578 1,261 5,839 250,000 250,000 160 10,365 885 260,365 251,045 The charity is the beneficial owner of the land and buildings situated on Brendon Avenue, Manchester, M40 9DN, however the legal title is held by the charity's custodian trustee (Assemblies of God Property Trust). DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Other debtors 31.3.25 f 6 31.3.24 7 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Other creditors 31.3.25 4,366 31.3.24 1,376 MOVEMENT IN FUNDS At 1.4.24 Net movement in funds At 31.3.25 Unrestricted funds General fund 330,471 7,873 338,344 TOTAL FUNDS 330,471 7,873 338,344 Page 9 continued...
Wellspring Community Church Notes to the Financial Statements - continued for the Year Ended 31 March 2025 9. MOVEMENT IN FUNDS - continued Net movement in funds, included in the above are as follows: Unrestricted funds General fund TOTAL FUNDS Incoming resources 82,249 82,249 Resources expended (74,376) (74,376) Movement in funds 7,873 7,873 Comparatives for movement in funds Unrestricted funds General fund TOTAL FUNDS Comparative net movement in funds, included in the above are as follows: A1 14.23 327,547 327,547 Incoming resources 61,740 61,740 Net movement in funds 2,924 2,924 At 31.3.24 330,471 330,471 10. Unrestricted funds General fund TOTAL FUNDS RELATED PARTY DISCLOSURES Resources expended Movement in funds (58,816) (58,816) 2,924 2,924 Rev A L Taylor (a trustee) received gross wages of f26,750 (2024: f25,000) and employer pension contributions of £615 (2024: £563) for his employment as minister. Page 10
Wellspring Community Church Detailed Statement of Financial Activities for the Year Ended 31 March 2025 31.3.25 31.3.24 INCOME AND ENDOWMENTS Donations and legacies Donations Gift aid Grants Subscriptions Miscellaneous income Investment income Rents received Deposit account interest 61,756 14,788 500 4,035 370 81,449 800 800 82,249 56,172 : 4,835 322 61,329 400 11 411 61,740 Total incoming resources EXPENDITURE Charitable activities Trustees' salaries Trustees' pension contributions Wages Rates and water Insurance Light and heat Telephone Postage and stationery Sundries Supplies Training Subscriptions Gifts to other missions Repairs and maintenance Motor and travel Youth and children's work Outreach and evangelism IT maintenance Other Depreciation of vehicles Depreciation of equipment 26,750 615 816 448 1,596 5,407 1,275 1,786 1,287 6,776 1,714 888 1,250 9,362 5,176 744 4,911 1,668 72,469 160 1,101 1,261 25,000 563 1,084 401 1,570 4,477 1,098 383 477 6,677 2,341 2,680 1,828 3,142 1,167 4,656 - 57,544 160 477 637 Support costs This page does not form part of the statutory financial statements Page 11
Wellspring Community Church Detailed Statement of Financial Activities for the Year Ended 31 March 2025 31.3.25 31.3.24 Support costs Governance costs Accountancy and legal fees Total resources expended Net income 646 74,376 7,873 635 58,816 2,924 This page does not form part of the statutory financial statements Page 12