**ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2021**
# **THE WELLSPRING FAMILY CHURCH DEREHAM**
**(A COMPANY LIMITED BY GUARANTEE) CHARITY REGISTRATION NUMBER 1096304 COMPANY REGISTRATION NUMBER 04538259**
Independent Examiners Ltd
Unit 2
The Broadbridge Business Centre Delling Lane Bosham PO18 8NF
## **THE WELLSPRING FAMILY CHURCH DEREHAM (A COMPANY LIMITED BY GUARANTEE) CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2021**
||**Page**|
|---|---|
|**Legal and Administrative Information**|3|
|**Independent Examiner's Report on the Accounts**|4|
|**Directors' Report**|5 to 8|
|**Statement of Financial Activities**|9|
|**Balance Sheet**|10|
|**Notes to the Accounts**|11 to 19|
## **THE WELLSPRING FAMILY CHURCH DEREHAM (A COMPANY LIMITED BY GUARANTEE) LEGAL AND ADMINISTRATIVE INFORMATION**
## **CHARITY NUMBER**
1096304
**START OF FINANCIAL YEAR** 01 April 2020 **END OF FINANCIAL YEAR** 31 March 2021
**DIRECTORS AT 31 MARCH 2021**
Mr J Beardon Mrs L Clay Dr H Collinson Mr H Grigg Mr M Weatherill
## **COMPANY SECRETARY**
T Rouse
The existing trustees appoint any new trustees following the provisions laid out in the Charity's governing instrument.
## **GOVERNING INSTRUMENT**
Memorandum and Articles of Association dated 18th September 2002 Amended by a Resolution Dated 12th November 2002.
**DATE OF INCORPORATION** 18th September 2002
## **OBJECTS**
a) To advance the Christian faith in accordance with the statement of beliefs appearing in the schedule hereto in the County of Norfolk and in such other parts of the United Kingdom or the world as the directors of the charity (herein called 'the trustees') may from time to time think fit and to fulfil such other purposes which are exclusively charitable according to the law of England and Wales and are connected with the charitable work of the charity.
b) To relieve persons who are in conditions of need or hardship or who are aged or sick and to relieve the distress caused thereby in the said location and in such other parts of the United Kingdom or the world as the trustees may from time to time think fit.
(C) To advance education in accordance with christian principles by such means as the Trustees may consider appropriate including by means of establishing and operating any educational establishment or establishments in the said location and in such otherparts of the United Kingdom or the world as the Trustees may from time to time think fit.
## **CORRESPONDENCE ADDRESS**
The Wellspring Family Centre 35 Neatherd Road Norfolk NR19 2AE
## **PRIMARY BANKERS**
National Westminster Bank Plc 32 Market Place Dereham Norfolk NR19 2AR
## **INDEPENDENT EXAMINER**
Mrs Donna Leppitt Independent Examiners Ltd Unit 2 The Broadridge Business Centre Delling Lane Bosham PO18 8NF
3
THE WELLSPR114G FAMILY CHURCH DEREHA14
(A COMPANY LIMrrED BY GUARANTEE)
INDEPENDENf EXAMINER'S REPORT ON THE Accoupfrs
FOR THE YEAR ENDED 31 MARCH 2021
Rep¢xt to the trusteesl membws rfThe We15prkng Famty a)urch Dereham the accwnts for the year end*1
31st March 2021.
The charitys trustees are spOnsIb for the prepar rf the accwnts. The chartys trnsteas conshlw that an
aud nrt reqed this yw undw $tiM 144 cl the ChattÈs Act 2011 {the CharIt5 Act) and that an
Independent examw)atkn neEdJ.
It my respMstt)Ir(y to..
examine the accwnts under sertth 145 rfthe Act.
to fckn the prc(eiYures L31d do*n the general Drect¥J7s gfrlen by the Chwlty Crynrnlsslon (under
settKx) 14515)Ib) of the Charit Act. and
to state vthethtr part*ular fflatttss have come to my
Basis of Irthpendert MInerf$ statemert
My examlnatth caritl wt kn &cwdance wth gwwal d&t$ ghm by the chY C0mmtss. An
examlnatK)n inciLtdes a rleW rf the aCCfAJnting kqjt by the tharty and a Compar&C of the acccxsnts
pre5entÉx1 wrf(h thrse It aLso ¢e$ any unusual tams cf dcJ5Ues kn the accounts.
and seelang exp13natKms frnm the trnstes c(¥)cwning such matters. The procelures undwtaken do nct
provKle an the evKlence that wrAJkl be requred n an aud*, and ccs&)t no Is as to whdher the
accounts present a Irue and fairf VMY and the r<)t 6 to th(6e mattus sd Lwt kn the statOnt below.
In cne¢tH)n Mth my examthatkn. no m&ter has ct*ne to my &tentw
whh me reasonable cause to bekve th& kn. any m&er01 respect. the re]u*emwts:
to kw Cntl9 rKwds h c(dce 130 d the thartf5 Act; and
to prepare accwnts whKh acc(fd w*h the Cr&IntM9 (d$ and compty wth the accountlng
reqU¥ts of the Act
have nrt b met.
to Whh, kn my 1nrt, atttkn shujkl be drawn to a prLVW Undstanding (* the acttsjnts
to be reach&l.
Mrs Donna Lepptt
Independent Examinus Ltd
Un?
The Broadrkyge Business ctre
Delllng Lane
Brsham
)18 8NF
Date:
0510712021
## **THE WELLSPRING FAMILY CHURCH DEREHAM (A COMPANY LIMITED BY GUARANTEE) DIRECTORS' REPORT FOR THE YEAR ENDED 31ST MARCH 2021**
## **Leadership and Links**
Direction and decisions relating to the incorporated charity are made by the Trustees in consultation with the Elders/Leaders, who are responsible for governing the life and teaching of the church. On 31 March 2021 Wellspring Family Church had four Elders and five trustees.
Day-to-day decisions on expenditure and activities are decided by the leaders and volunteers in charge of defined areas of the church, with budgets set and monitored by the Trustees.
The powers of appointment or removal of Trustees rests with the members of the charity, who are at present the Trustees and Elders. New Trustees are selected from the members of the church or from the leaders of other local churches sharing the same vision, so that the Trustee body is wholeheartedly involved in seeing the mission of the church worked out in practice.
On being appointed, new Trustees spend time with the existing Trustees to ensure they understand the responsibilities and the legal and financial framework in which the church operates. The trustees continue to keep all of our policies and procedures under review to ensure good practice in progressing the charity’s objects.
Wellspring Family Church, its Trustees, Elders/Leaders and members are committed to the restoration of New Testament principles in the structure and operation of the Church.
The church values the work of Jon Beardon who fulfils the role of Team Leader. Together the team of Elders bring spiritual leadership to the church.
The achievement of the charity’s objects depends to a large extent on the commitment and work of church members in their day-to-day lives and in the wider community, and so a purpose of the leadership must be to train, encourage and support the rest of the church membership in this. This helps the church achieve its great commission through praying, visiting and assisting the sick and others in need, and in public teaching and worship. Very significant levels of volunteer service are given by the members of the church in these areas, some of it channelled through the important projects of our sister charity Wellspring Family Centre.
Wellspring Family Church operates primarily but not exclusively in Dereham and the surrounding local villages. Although the Church is totally autonomous, self-supporting and is not part of a denomination, it does form part of a strong affiliation of about 60 evangelical churches across the UK and beyond called ‘Relational Mission’.
Wellspring Family Church is actively involved with a ‘Relational Mission Community’ which is led by Jon Beardon. This smaller sub-group of churches which includes Life Church Sheringham, New Life Community Church, North Walsham, Kings Community Church, Norwich, Aylsham Community Church, Hope Community Church, Community Church, Attleborough, Hope Church, Thetford, Kingsgate Church, Great Yarmouth, and New Life Christian Fellowship, Beccles.
The links with Relational Mission provides the leaders with friendship, mutual advice and support; it gives the church a broader perspective on developments in the Christian world and practice, and permits participation in broader projects such as conferences and overseas projects.
The Church belongs to the national organisation 'The Evangelical Alliance' that represents over a million Christians in mainstream evangelical churches. Locally it has a good working relationship with many churches across the denominations. The leaders meet regularly for fellowship and regular inter-church activities are well supported.
Overseas ministry plays a very important part in the life of Wellspring Family Church and particular links with Serbia, supporting Good News Church in Nis in the south of that country and also the Oaks Community Church, in Pardubice, Czech Republic.
The achievement of the charity’s objects depends to a large extent on the commitment and work of church members in their day-to-day lives and in the wider community, and so a purpose of the leadership must be to train, encourage and support the rest of the church membership in this. This helps the church achieve its great commission through praying, visiting and assisting the sick and others in need, and in public teaching and worship. Very significant levels of volunteer service are given by the members of the church in these areas, some of it channelled through the important projects of our sister charity Wellspring Family Centre.
5
## **THE WELLSPRING FAMILY CHURCH DEREHAM (A COMPANY LIMITED BY GUARANTEE) DIRECTORS' REPORT (continued) FOR THE YEAR ENDED 31ST MARCH 2021**
## **Review of Charitable Activities**
Activities addressing the above objects have been significantly impacted by the ongoing effects of the coronavirus pandemic during the past year. In order to adapt to the pandemic and in line with Government guidance most of our weekly activities have moved online, with YouTube used to Livestream our public worship and teaching, and Zoom used for pastoral groups, a Marriage enrichment course called ‘The Marriage Course’, Christian outreach using the Alpha Course (2 courses run this year) and regular weekly prayer meetings.
We continue to invest in various sorts of educational training of our staff and members. Two of our volunteers began the 2-year long leadership training course LEAD this year, and one of the elders has started the SHEPHERD training course.
Jon Beardon is employed full-time as an elder, bringing oversight and leadership to all areas of our work. He has been particularly busy overseeing the adaptations required this year.
We employ Phil Eggleton as an evangelist-elder for one day a week. Phil continues to strengthen the church’s links with the local community through his work. With the rising needs surrounding mental health, Phil has worked closely with Wellspring Family Centre’s Well-come project ensuring a close link between this project and the work of the church.
The church has been active in wider mission in Norfolk and North Suffolk and also in Europe. This is possible through the work of Jon Beardon continues bringing leadership to the other Relational Mission churches who are in his ‘Relational Mission Community’. Local churches who have joined in with the ‘20/20’ mission to Norfolk and North Suffolk are aiming to reach twenty more places in the next twenty years whilst simultaneously caring for the existing ten. As one of these churches we are taking a lead in starting a new group that has begun meeting in Watton where a small number of our members live.
The Community also includes churches in Serbia and the Czech Republic. As a local church we have focused energy, money and volunteer time given to support for these our network partners. We have worked with partners to raise £20,803.89 which is being used for Covid related emergency food aid amongst Roma families, distributed using our local partners in Serbia.
In November 2020 we successfully hosted an online conference ‘Small Town Jesus’ to which Donnie Griggs was our main speaker. The event was designed to encourage churches like ours who are working in smaller communities in the UK and Europe. In March 2021 we hosted a special prayer event on Zoom called the Prayer of Many which gathered people from various nations and churches together.
We have been able to send one of our young people in a placement to Pardubice in the Czech Republic, where she is completing a gap year ID course along with serving the church in their school’s work and youth work.
Our second charitable object is largely met through our partnership with Wellspring Family Centre charity. We have continued to make premises available for this, although in a limited capacity due to lockdown and social distancing measures. We have worked hard to make our premises covid safe to aid this; installing hand sanitiser units on both entrances, deep cleaning the premises, increasing regular cleaning routines, and surveying socially distanced seating capacity. We continue to encourage church members to lead and support this work, contacting and hosting local children, youth, and people with mental health problems and other long- term conditions.
In addition to this, we have recognised other needs in the community as a result of the pandemic, and have partnered with Wellspring family Centre and other local churches in the community to address some of these. Through this emergency response initiative, we provided essential errands for isolated people, and since the start of lockdown, we were able to run just under 500 errands across just under 100 different households. These included collecting pharmacy orders, purchasing and delivering supermarket shopping, and other practical help. Through this service, we were also able to provide supportive phone calls for those feeling lonely.
We have continued to provide the local distribution centre for the Mid-Norfolk Foodbank, the demand for which sadly continues to grow. We would like to express our thanks to the dozens of volunteers from amongst the church members, as well as the support we receive from other church groups in the Dereham area, and the partnership with other Relational Mission churches across East Anglia with which we have close friendship.
6
## **THE WELLSPRING FAMILY CHURCH DEREHAM (A COMPANY LIMITED BY GUARANTEE) DIRECTORS' REPORT (continued) FOR THE YEAR ENDED 31ST MARCH 2021**
The Trustees continue to keep under review the various risks which may affect the operation of the Church, and to work with Wellspring Centre on specific areas of risk which affect their joint activities. The Trustees continue to regularly review and update policies and risk assessments.
In planning our activities, the Trustees have had regard to the guidance issued by the Charity Commission on 'Public Benefit'. The Trustees have complied with the duty in Section 4 of the Charities Act 2006 to have due regard to the public benefit guidance published by the Charity Commission in December 2008.
## **Financial Overview**
Between 1st April 2020 and 31st March 2021, the overall income was £167,349 and the expenditure was £122,744. The surplus of £44,605 will be added to our reserves. We recognise that a portion of this (£10,951) is restricted funds we are holding for other parties as part of our intermediary work for international mission and events. We are encouraged by an increase in regular giving within the church despite the pandemic, and we continue to review the churches finance regularly.
Where there are specific capital expenditure foreseen amounts are set aside into designated funds so the general reserves are available to meet the costs of normal running and expansion of the Church and to ensure the Church can meet the commitments that have been entered into. This includes our role as an employer.
The level of general reserves is not set as a specific formula, but are anticipated to be between one and three months of the level of fixed expenditure over committed income.
The Church has continued to see growth in numbers attending and continues to raise its profile with and to serve the local community and beyond through the various examples mentioned above.
## **Grant Making Policy**
Gifts to external organisations and individuals are considered by the Trustees on the basis of need and fulfilment of the charitable objectives. There are no upper or lower limits.
## **Risk Statement**
The Trustees continue to review the major strategic, business and operational risks which the charity faces to ensure that these risks are minimised or properly managed. All major insurable risks are subject to normal church and employers’ insurances. Contractual risks are reviewed before being entered into to assess that they could not significantly impact upon the church’s ability to fulfil its objectives.
7
#
##
## **THE WELLSPRING FAMILY CHURCH DEREHAM (A COMPANY LIMITED BY GUARANTEE)**
## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST MARCH 2021**
|**Incorporating Income & Expenditure Account**
**Notes**
**INCOMING RESOURCES**
Donations & Legacies
**3a**
Investment Income
**3b**
Charitable Activities
**3c**
Activities for Generating Funds
**3d**
Other Incoming Resources
**3e**
**TOTAL INCOMING RESOURCES**
Costs of Charitable Activities
**4a**
Governance Costs
**4b**
**NET INCOMING/(OUTGOING) RESOURCES**
**17**
Total Funds Brought Forward
**TOTAL FUNDS CARRIED FORWARD**
**TOTAL RESOURCES EXPENDED**
**RESOURCES EXPENDED**
**NET MOVEMENT IN FUNDS**
Prior Year adjustment|Unrestricted
Restricted
**Total**
**Total**
Funds
Funds
**2020/21**
**2019/20**
£
£
**£**
**£**
118,677
-
118,677
103,084
-
-
-
-
2,719
40,471
43,190
9,157
5,520
-
5,520
1,267
5,295
-
5,295
2,959|
|---|---|
||**132,211**
**40,471**
**172,682**
**116,467**|
||78,780
29,042
107,822
98,135
4,905
-
4,905
7,333|
||**83,686**
**29,042**
**112,728**
**105,468**|
|||
||**48,526**
**11,429**
**59,955**
**10,999**
-
-
-
1,385|
||**48,526**
**11,429**
**59,955**
**12,384**|
||98,218
-
98,218
87,219|
||**146,743**
**11,429**
**158,172**
**98,218**|
Movement on all reserves and all recognised gains and losses are shown above. All of the organisation's operations are classed as continuing.
The notes on pages 10 to 18 form part of these financial statements.
9
##
|**Fixed Assets**
Notes
Tangible Assets
**2**
Investment Assets
**6**
**Cun-ent Assets**
Debtors&Prepayments
**8**
cashatbank andInhand
**7**
**Total Cun-ent Assets**
**Creditors:**amounts falling due
**9**
within one year
**NET CURRENT ASSETS**
**TOTAL ASSETS**lesscurrent liabilities
**Creditors:**amounts falling dueinmore
**10**
one year
**NET ASSETS**
**FUNDS OF THECHARITY**
General Funds
Restricted funds
**5**
**TOTAL FUNDS**||Unrest ricted
Restricted
**Total**
**Total**
Fund
Fund
**31-Mar-21**
**31-Mar-20**
£
£
**_E_**
**_E_**
150,000
1_50,000
150,000|
|---|---|---|
|||150~~1~~000
150,000
150,000
52,899
11,429
64,328
19,685|
|||**52,899**
**11,429**
**64,328**
**19,685**
9,256
9,256
15,911
43,643
11,429
55,072
3,774|
||||
|||**193,643**
**11,429**
**205,072**
**1s3,n4**
46,899
46,899
55,556|
|||**146,743**
**11,429**
**158,172**
**98,218**
146,743
146,743
98,218
11,429
11,429|
||||
|||**146,743**
**11,429**
**158,172**
**98,218**|
##
# **THE WELLSPRING FAMILY CHURCH DEREHAM (A COMPANY LIMITED BY GUARANTEE)**
## **NOTES TO THE ACCOUNTS**
## **FOR THE YEAR ENDED 31ST MARCH 2021**
## **1. ACCOUNTING POLICIES**
The principal accounting policies are summarised below. The accounting policies have been applied consistently throughout the year.
## **Basis of preparation:**
The financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant notes. The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2015) - (Charities SORP - FRS102) and the Charities Act 2011.
The Charity meets the definition of a public benefit entity under FRS102. Assets and liabilities are initially recognised at historical cost unless otherwise stated in the relevant accounting policy notes.
## **Assessment of Going Concern**
Preparation of the accounts is on a going concern basis. The trustees consider that there are no material uncertainties about the Charity's ability to continue as a going concern.
## **Recognition of Incoming Resources**
These are included in the Statement of Financial Activities (SOFA) when:
· the charity becomes entitled to the resources;
- the trustees are virtually certain they will receive the resources; and
- the monetary value can be measured with sufficient reliability.
## **Incoming Resources with Related expenditure**
Where incoming resources have related expenditure (as with fundraising or contract income) the incoming resources and related expenditure are reported gross in the SOFA.
## **Grants and Donations**
Grants and donations are only included in the SOFA when the charity has unconditional entitlement to the resources.
## **Tax Reclaims on Donations and Gifts**
Incoming resources from tax reclaims are included in the SOFA at the same time as the gift to which they relate.
## **Gifts in Kind**
Gifts in kind are accounted for at a reasonable estimate of their value to the charity or the amount actually realised. Gifts in kind for sale or distribution are included in the accounts as gifts only when sold or distributed by the charity. Gifts in kind for use by the charity are included in the SOFA as income receivable.
## **Volunteer Help**
The value of any voluntary help received is not included in the accounts and is described in the Directors' annual report if applicable.
## **Investment Income**
This is included in the accounts when receivable.
This page does not form part of the statutory financial statements
11
## **THE WELLSPRING FAMILY CHURCH DEREHAM (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS**
## **FOR THE YEAR ENDED 31ST MARCH 2021**
## **1. ACCOUNTING POLICIES (continued)**
## **Expenditure and Liabilities**
## **Liability Recognition**
Liabilities are recognised as soon as there is a legal or constructive obligation committing the charity to pay out
## **Governance Costs**
Include costs of the preparation and examination of statutory accounts, the costs of the trustees meetings and cost of any legal advise to trustees on governance or constitutional matters.
## **Changes in Accounting Policies**
There has been no change to the accounting polices (variation rules and methods of accounting) since last year.
## **Grants Payable without Performance Conditions**
These are only recognised in the accounts when a commitment has been made and there are no conditions to be met relating to a grant which remain in control of the charity.
## **Support Costs**
Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of the resources, eg allocating property costs by floor areas, or per capita, staff costs by the time spent and other costs by their usage.
## **Pensions**
The Charity operates a define contribution pension scheme and the pension charge represents the amounts payable by the company to the fund in respect of the financial period. Pension contributions are charged to the Statement of Financial Activities as they become payable.
## **Taxation**
The charity is exempt from tax on its charitable activities.
## **Legal Status of the Charity**
The charity is a company limited by guarantee and has no share capital. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity.
## **Fixed Assets**
Fixed Assets are capitalised if they can be used for more than one year and cost at least £1,500. They are valued at cost or, if gifted, at the value to the charity on receipt.
## **Depreciation Expense**
Depreciation is calculated at a rate to write off the cost of tangible fixed assets on a reducing balance over their estimated useful lives. The rates applied per annum is 20%.
No depreciation is charged to freehold property as the property is maintained to such a standard that the estimated residual value is not less than cost.
This page does not form part of the statutory financial statements
12
## **THE WELLSPRING FAMILY CHURCH DEREHAM (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31ST MARCH 2021**
## **2. TANGIBLE FIXED ASSETS**
|Additions
**Accumulated Depreciation**
At 1 April 2020
Charge for the Year
At 31 March 2021
At 31 March 2021
**Net Book Value**
At 31 March 2021
At 1 April 2020
**Cost**
At 1 April 2020|Land &
Building
Unrestricted
Equipment
Restricted
Equipment
**2020/21**
£
£
£
£
150,000
3,360
-
153,360
-
-
-
-|
|---|---|
||150,000
3,360
-
153,360|
||-
3,360
-
3,360
-
-
-
-|
||-
3,360
-
3,360|
|||
||150,000
-
-
150,000|
||150,000
-
-
150,000|
The annual commitments under non-cancelling operating leases and capital commitments are as follows:
31st March 2020 : See note 9 for details. 31st March 2021 : See note 9 for details.
This page does not form part of the statutory financial statements
13
## **THE WELLSPRING FAMILY CHURCH DEREHAM (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31ST MARCH 2021**
## **3. INCOMING RESOURCES**
|Note
**c) Incoming from Charitable Activities**
**d) Activities for Generating Funds**
**e) Other Incoming Resources**
Relieving Local Need
Relieving International Need
Supporting International Missions
Training Support
**Total Income**
Sundry Income
Loan written off - Building Fund
Books & Publications
Wellspring Centre
**b) Investment Income**
Bank Interest
Conference Income
Gift Aid Tax Recovered
Misc Income
Tithes, Gifts & offerings
Contributions from other charities for
**a) Donations & Legacies**|Unrestricted
Restricted
**Total**
**Total**
Funds
Funds
**2020/21**
**2019/20**
£
£
**£**
**£**
12,780
-
12,780
-
19,235
-
19,235
18,516
2,859
-
2,859
-
83,803
-
83,803
84,568|
|---|---|
||**118,677**
**-**
**118,677**
**103,084**|
||-
-
-
-|
||**-**
**-**
**-**
**-**|
||-
7,431
7,431
9,157
2,719
5,279
7,998
-
-
20,804
20,804
-
-
5,190
5,190
-
-
1,768
1,768
-|
||**2,719**
**40,471**
**43,190**
**9,157**|
||-
-
-
267
5,520
-
5,520
1,000|
||**5,520**
**-**
**5,520**
**1,267**|
||-
-
-
2,959
5,295
-
5,295
-|
||**5,295**
**-**
**5,295**
**2,959**|
|||
||**132,211 40,471 172,682 116,467**|
This page does not form part of the statutory financial statements
14
## **THE WELLSPRING FAMILY CHURCH DEREHAM**
## **(A COMPANY LIMITED BY GUARANTEE)**
## **NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31ST MARCH 2021**
## **4. RESOURCES EXPENDED**
|**Notes**
**11**
**b) Governance costs**
**Total Expenditure**
Relieving need (local)
Relieving need (international)
Independent Examiners Fee
Bank & Interest Charges
Insurance Costs
Legal & Professional fees
Travel & Subsistence
Youth & Children's Work
Equipment Costs
Contribution to churches/Relational
Mission Contribution
Evangelism
Gifts & Offerings
License & Subscriptions
Ministry Costs
Resources & Publications
Sundry Expenses
Training Costs
Conference Costs - Christian Mission
Conference Costs - Other
Supporting International Mission
**a) Charitable Activities**
Administrative Expenses
Staff costs|Unrestricted
Restricted
**Total**
**Total**
Funds
Funds
**2020/21**
**2019/20**
£
£
**£**
**£**
2,297
-
2,297
683
7,183
7,058
14,241
8,215
-
-
-
10,467
8,880
-
8,880
-
415
-
415
1,180
-
-
-
5,604
-
-
-
981
1,301
-
1,301
3,026
913
-
913
672
52,032
-
52,032
58,624
-
3,790
3,790
-
315
-
315
1,356
2,162
1,050
3,212
5,239
18
-
18
1,461
397
-
397
127
-
193
193
-
2,867
5,686
8,553
500
-
11,265
11,265
-|
|---|---|
||**78,780**
**29,042**
**107,822**
**98,135**|
||1,352
-
1,352
1,440
2,422
-
2,422
4,050
1,131
-
1,131
1,099
-
-
-
744|
||**4,905**
**-**
**4,905**
**7,333**|
|||
||**83,686 29,042 112,728 105,468**|
This page does not form part of the statutory financial statements
15
## **THE WELLSPRING FAMILY CHURCH DEREHAM (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31ST MARCH 2021**
## **5. RESTRICTED FUNDS**
## **CURRENT FINANCIAL YEAR**
|Relieving International
Need
Supporting International
Mission
Training Support
Conferences (Incl.
Christian Mission)
Equipment Support
Relieving Local Need|**Balance**
Gains &
**Balance**
**01-Apr-20**
Income
Expenditure
(Losses)
Transfer
**31-Mar-21**
£
£
£
£
**£**
-
5,279
(5,686)
-
-
(407)
-
20,804
(11,265)
-
-
9,539
-
5,190
(3,790)
-
-
1,400
-
1,768
(1,050)
-
-
718
-
7,431
(7,058)
-
-
373
-
-
(193)
-
-
(193)
-
-
-
-
-
-|
|---|---|
||**-**
**40,471**
**(29,042)**
**-**
**-**
**11,429**|
## **PREVIOUS FINANCIAL YEAR**
The Charity held no Restricted Funds in the previous financial period.
This page does not form part of the statutory financial statements
16
## **THE WELLSPRING FAMILY CHURCH DEREHAM (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS (continued) FOR THE YEAR ENDED 31ST MARCH 2021**
## **6. INVESTMENTS**
The Charity held no investment assets during this or the previous financial period.
## **7. CASH AT BANK AND IN HAND**
|**7. CASH AT BANK AND IN HAND**||
|---|---|
|Cash at Bank|Unrestricted
Restricted
**Total**
**Total**
Funds
Funds
**31-Mar-21**
**31-Mar-20**
£
£
**£**
**£**
52,899
11,429
64,328
19,685|
||**52,899**
**11,429**
**64,328**
**19,685**|
## **8. DEBTORS AND PREPAYMENTS**
The Charity held no Debtors during this or the previous financial period.
## **9. CREDITORS AND ACCRUALS AMOUNTS FALLING DUE WITHIN ONE YEAR**
|Stewardship (mortgage) (Formerly Charity Bank)
Independent Examiner's Fee
Building Fund Loan|Unrestricted
Restricted
**Total**
**Total**
Funds
Funds
**31-Mar-21**
**31-Mar-20**
£
£
**£**
**£**
-
-
-
6,355
8,116
-
8,116
8,116
1,140
-
1,140
1,440|
|---|---|
||**9,256**
**-**
**9,256**
**15,911**|
## **10. LONG TERM LIABILITIES: AMOUNTS FALLING DUE IN MORE THAN ONE YEAR**
|Stewardship (mortgage) (Formerly Charity Bank)|Unrestricted
Restricted
**Total**
**Total**
Funds
Funds
**31-Mar-21**
**31-Mar-20**
£
£
**£**
**£**
46,899
-
46,899
55,556|
|---|---|
||**46,899**
**-**
**46,899**
**55,556**|
During the year ended 31st March 2009 financial period Wellspring Family Church, Dereham acquired Land & Building at 35 Neartherd Road, Dereham, Norfolk, NR19 2AE at a cost of £150,000. The Charity made a capital contribution of £50,000 and remaining funds were provided by a mortgage from Stewardship (formerly with The Charity Bank Ltd). Stewardship have provided the mortgage of £100,000 over a 25 year fixed term period at a annual interest rates of 4%, with a monthly repayments of £676. The mortgage commenced on the 1st October 2008, with maturity on the 1st October 2033.
This page does not form part of the statutory financial statements
17
## **THE WELLSPRING FAMILY CHURCH DEREHAM (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS (continued) FOR THE YEAR ENDED 31ST MARCH 2021**
## **11. STAFF COSTS AND NUMBERS**
|**TOTAL**
**2020/21**
**£**
Gross Wages & Salaries
49,310
Employer's National Insurance Costs
3,090
Pension Contributions
10,412
**62,812**
Average number of employees who were engaged in each of the following activities:
**TOTAL**
**2020/21**
2
Activities in furtherance of organisation's objects|**TOTAL**
**2019/20**
**£**
45,500
2,724
10,400|
|---|---|
||**58,624**|
||**TOTAL**
**2019/20**
2|
The Charity operates a PAYE scheme to pay all employed members of staff and no employees received emoluments in excess of £60,000. (2019/20- None)
## **12. DIRECTORS AND OTHER RELATED PARTIES**
During the financial year Directors Mr Jonathan Richard Beardon received £24,761 (2019/20: £22,803 (NB was stated incorrectly as £27,698 in the prior year accounts)) in net salary related payments and £9895 (2019/20: £9,895 (NB was stated incorrectly as £10,400 in the prior year accounts)) in Pension Contributions in his capacity as the Lead Pastor of the Wellspring Family Church in furthering the charity's objects.
No payments were made to trustees or any persons connected with them during this financial period. No material transaction took place between the organisation and a trustee or any person connected with them.
## **13. CAPITAL AND RESERVES**
The Company is Limited by Guarantee (04538259) and it is a charity registered with the Charity Commission (1096304).
It does not have a Share capital and has no income subject to Corporation Tax.
|Profit / Deficit for the financial year
Other Recognised Gains
Balance Brought Forward
Closing Funds at
31-Mar-21|**2020/21**
**£**
59,955
-
**59,955**
98,218
**158,172**|**2019/20**
**£**
10,999
-|
|---|---|---|
|||**10,999**|
|||87,219|
|||**98,218**|
This page does not form part of the statutory financial statements
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## **THE WELLSPRING FAMILY CHURCH DEREHAM (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS (continued) FOR THE YEAR ENDED 31ST MARCH 2021**
## **14. RISK ASSESSMENT**
The Directors actively review the major risks which the charity faces on a regular basis and believe that maintaining the free reserves stated combined with the annual review of the controls over key financial systems carried out on an annual basis will provide sufficient resources in the event of adverse conditions. The Directors have also examined other operational and business risks which they face and confirm that they have established systems to mitigate the significant risks.
## **15. RESERVES POLICY**
The Directors have considered the level of reserves they wish to retain, appropriate to the charity's needs. This is based on the charity's size and the level of financial commitments held. The Directors aim to ensure the charity will be able to continue to fulfil its charitable objectives even if there is a temporary shortfall in income or unexpected expenditure. The Directors will endeavour not to set aside funds unnecessarily.
## **16. PUBLIC BENEFIT**
The Charity acknowledges its requirement to demonstrate clearly that it must have charitable purposes or ‘aims’ that are for the public benefit. Details of how the charity has achieved this are provided in the Directors' report. The Directors confirm that they have paid due regard to the Charity Commission guidance on public benefit before deciding what activities the charity should undertake.
## **17. PRIOR YEAR ADJUSTMENT**
The prior year Long term Creditors balance has been adjusted by £1385 from £56,941 to £55,556 and the General Funds from £96,833 to £98,218 to reflect a true and fair view of the Charity's closing position at the 31st March 2020.
This page does not form part of the statutory financial statements
19