# **ANNUAL REPORT AND FINANCIAL STATEMENTS**
**FOR THE YEAR ENDED 31ST MARCH 2022**
# **THE WELLSPRING FAMILY CHURCH DEREHAM**
**(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 (COMPANY LIMITED BY GUARANTEE) CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2022**
||**Page**|
|---|---|
|**Legal and Administrative Information**|3|
|**Directors' Report**|4 to 7|
|**Statement of Financial Activities**|8|
|**Balance Sheet**|9|
|**Notes to the Accounts**|10 to 18|
|**Independent Examiner's Report on the Accounts**|19|
# **THE WELLSPRING FAMILY CHURCH-DEREHAM (COMPANY LIMITED BY GUARANTEE) LEGAL AND ADMINISTRATIVE INFORMATION**
## **CHARITY NUMBER**
1096304
**COMPANY REGISTRATION NUMBER** 04538259
**START OF FINANCIAL YEAR**
01 April 2021
**END OF FINANCIAL YEAR** 31 March 2022
**DIRECTORS AT 31 MARCH 2022** Mr J Beardon Mrs L Clay Dr H Collinson Mr H Grigg Mr M Weatherill Mr D Johnson (appointed 14/6/2021)
## **COMPANY SECRETARY**
Mr 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** Donna Leppitt Independent Examiners Ltd Unit 2 The Broadridge Business Centre Delling Lane Bosham PO18 8NF
3
## **THE WELLSPRING FAMILY CHURCH-DEREHAM (COMPANY LIMITED BY GUARANTEE) DIRECTORS' REPORT**
## **FOR THE YEAR ENDED 31ST MARCH 2022**
## **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 2022 Wellspring Family Church had four Elders and six 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 Peter Collinson 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 75 evangelical churches and new church plants 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, Wymondham, Christ Community Church, Attleborough, Hope Church, Thetford, Kingsgate Church, Great Yarmouth, and New Life Christian Fellowship and 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.
4
## **THE WELLSPRING FAMILY CHURCH-DEREHAM (COMPANY LIMITED BY GUARANTEE) DIRECTORS' REPORT (continued) FOR THE YEAR ENDED 31ST MARCH 2022**
## **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 had moved online. As lockdown measured eased, we were able to hold socially distanced meetings adhering to government restrictions and adapting as further easing was implemented. This year, we ran two Alpha courses followed by a Freedom in Christ course.
We continue to invest in various sorts of educational training of our staff and members. Two of our volunteers began the second year of the 2-year long leadership training course LEAD, and the SHEPHERD training course has been continued by one of our elders.
Jon Beardon is employed full-time as an elder, bringing oversight and leadership to all areas of our work for 2 days per week. Contributions are given by Relational Mission for 2 days per week for his role as coordinator, and 1 day per week for his leadership of the Relational Mission Community.
Since September 2021, Phil Eggleton is employed as a pastor-elder for two days 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.
Since September 2021, Peter Collinson is employed as eldership team leader. Part of this work included oversight of Sunday meetings, and as part of this work he has introduced a new two-meeting format whereby an earlier service aimed at families took place at 9:30am, and a more familiar style service took place at 11:00am.
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 new churches in Watton and Fakenham where a 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 another £12,750.44 for the Covid related emergency food aid amongst Roma families, distributed using our local partners in Serbia.
In November 2021 we successfully hosted a conference ‘From Everywhere to Everywhere’, the third such conference, encouraging and inspiring members and leaders of churches to excel in pursuing our calling and mission.
This year, we have hosted a young person from Serbia as part of the gap year ID course. He has been serving the Church is a variety of ways; including supporting our youth work ministry, assisting the work of the Well-come project, and supporting our international mission efforts.
Our second charitable object is largely met through our partnership with Wellspring Family Centre charity. We have continued to make our premises available for this, although initially in a limited capacity due to lockdown and social distancing measures. As lockdown eased and we were able to host more groups, we have worked hard to monitor and adapt to infection levels and government guidelines. 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.
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.
5
## **THE WELLSPRING FAMILY CHURCH-DEREHAM (COMPANY LIMITED BY GUARANTEE) DIRECTORS' REPORT (continued) FOR THE YEAR ENDED 31ST MARCH 2022**
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 2021 and 31st March 2022, the overall income was £208,932 and the expenditure was £156,753. The surplus of £52,179 will be added to our reserves. We recognise that a large portion of our reserves (£58,364) is restricted funds we are holding for other parties as part of our intermediary work for international mission, funds for the purchase of a building, 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.
6
THE WELLSPRING FAMILY CHURCH-DEREHAM
(COMPANY LIMrrED BY GUARAIITEE)
DIREcfoRS' REPORT (eontkbu•d)
FOR THE YEAR EIIDED 31ST MAACH 2022
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## **THE WELLSPRING FAMILY CHURCH-DEREHAM (COMPANY LIMITED BY GUARANTEE) STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST MARCH 2022**
|**Incorporating Income & Expenditure Account**
**Notes**
**INCOMING RESOURCES**
Donations & Legacies
**3a**
Investment Income
**3b**
Charitable Activities
**3c**
Other Income
**3d**
Other Incoming Resources
**3e**
**TOTAL INCOMING RESOURCES**
Costs of Charitable Activities
**4a**
**NET INCOMING/(OUTGOING) RESOURCES**
Total Funds Brought Forward
**TOTAL FUNDS CARRIED FORWARD**
**NET MOVEMENT IN FUNDS**
**RECONCILIATION OF FUNDS:**
**RESOURCES EXPENDED**
**TOTAL RESOURCES EXPENDED**
**TRANSFERS BETWEEN FUNDS**|Unrestricted
Restricted
**Total**
**Total**
Funds
Funds
**2021/22**
**2020/21**
£
£
**£**
**£**
142,783
-
142,783
118,677
-
-
-
-
13,214
46,935
60,149
43,190
6,000
-
6,000
5,520
-
-
-
5,295|
|---|---|
||**161,997**
**46,935**
**208,932**
**172,682**|
||156,753
-
156,753
112,728|
||**156,753**
**-**
**156,753**
**112,728**|
|||
||**5,244**
**46,935**
**52,179**
**59,955**
-
-
-
-|
||**5,244**
**46,935**
**52,179**
**59,955**|
||146,743
11,429
158,172
98,218|
||**151,987**
**58,364**
**210,351**
**158,172**|
All of the Charity's operations are classed as continuing operations.
The notes form part of these financial statements, found on pages
10 to 18
8
THE WELLSPRING FAMILY CHURcTrR£HAN
(COMPANY LDirrED BY GUAIIANTEE)
BALANCE SHEET
AS AT 31 MARCH 2022
Fund
Fund
3141aTr22 51-M•ty21
N(te5
1soxA)o
150.000
150POO
Ins*rtment As5*s
150
150
150
00
Qsh at bankand In hand
52.116
58J64
IION80
64.328
116
ijo
anwftts du•
i(hin ¢ ywjr
9252
9252
9,256
42
58364
101228
55,072
¢r•dltty* •ntyJnts fakng due li
io
40*77
40A77
46*99
FIIIDSOF ThE CHAATrY
ndS
Restrtw fijnds
151.987
151,987
58,364
146,743
11.429
58,364
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04538259
## **THE WELLSPRING FAMILY CHURCH-DEREHAM (COMPANY LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31ST MARCH 2022**
## **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.
## **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.
## **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.
## **Donated Services and Facilities**
These are only included in incoming resources (with an equivalent amount in resources expended) where the benefit to the charity is reasonably quantifiable, measurable and material. The value placed on these resources is the estimated value to the charity of the service or facility received.
## **Investment Income**
This is included in the accounts when receivable.
## **Investment Gains and Losses**
This included any gain or loss on the sale of investments and any gain or loss resulting from revaluing investments to market value at the end of the year.
This page does not form part of the statutory financial statements
10
## **THE WELLSPRING FAMILY CHURCH-DEREHAM (COMPANY LIMITED BY GUARANTEE)**
## **NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31ST MARCH 2022**
## **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.
## **Grants with Performance Conditions**
Where the charity gives a grant with conditions for its payment being a specific level of service or output to be provided, such grants are only recognised in the SOFA once the recipient of the grant has provided the specified
## **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.
## **Investments**
Investments quoted on a recognised stock exchange are valued at market value at the year end. Other investment assets are included at trustees' best estimate of market value.
## **Pensions**
Pension contributions are charged to the Statement of Financial Activities as they become payable.
## **Fund Accounting**
Funds held by the charity are either:
**1. Unrestricted funds**
These are funds which can be used in accordance with the charity's objectives, at the discretion of the trustees.
**2. Restricted funds**
These are funds that can only be used for particular restricted purposes within the objects of the charity.
## **3. Designated funds**
These funds are funds set aside by the trustees out of unrestricted general funds for specific purposes or projects.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
## **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
There has been no change to the accounting polices (Variation rules and methods of accounting) since last year.
This page does not form part of the statutory financial statements
11
## **THE WELLSPRING FAMILY CHURCH-DEREHAM (COMPANY LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31ST MARCH 2022**
## **2. TANGIBLE FIXED ASSETS**
|Additions
At 1 April 2021
**Accumulated Depreciation**
At 1 April 2021
Charge for the Year
At 31 March 2022
**Net Book Value**
At 31 March 2022
**Cost**
At 1 April 2021
At 31 March 2022|Land &
Building
Unrestricted
Equipment
Restricted
Equipment
**2021/22**
£
£
£
£
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 2021 : See note 9 for details. 31st March 2022 : See note 9 for details.
This page does not form part of the statutory financial statements
12
## **THE WELLSPRING FAMILY CHURCH-DEREHAM**
## **(COMPANY LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31ST MARCH 2022**
## **3. INCOMING RESOURCES**
|Note
**c) Incoming from Charitable Activities**
**d) Activities for Generating Funds**
**e) Other Incoming Resources**
Loan written off - Building Fund
Supporting International Missions
Training Support
Wellspring Family Centre
Conference Income
Relieving Local Need
Relieving International Need
Gift Aid Tax Recovered
Misc Income
Tithes, Gifts & offerings
**b) Investment Income**
Interest Received
**a) Donations & Legacies**
Contributions from other charities for
ministry|Unrestricted
Restricted
**Total**
**Total**
Funds
Funds
**2021/22**
**2020/21**
£
£
**£**
**£**
39,484
-
39,484
12,780
18,868
-
18,868
19,235
-
-
-
2,859
84,432
-
84,432
83,803|
|---|---|
||**142,783**
**-**
**142,783**
**118,677**|
||-
-
-
-|
||**-**
**-**
**-**
**-**|
||-
3,393
3,393
7,431
2,235
23,136
25,371
7,998
10,979
19,206
30,185
20,804
-
-
-
5,190
-
1,200
1,200
1,768|
||**13,214**
**46,935**
**60,149**
**43,190**|
||6,000
-
6,000
5,520|
||**6,000**
**-**
**6,000**
**5,520**|
||-
-
-
5,295|
||**-**
**-**
**-**
**5,295**|
This page does not form part of the statutory financial statements
13
## **THE WELLSPRING FAMILY CHURCH-DEREHAM**
## **(COMPANY LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31ST MARCH 2022**
## **4. RESOURCES EXPENDED**
|Note
Insurance Costs
Wages & Salaries
Employer's National Insurance Costs
Pension Contributions
**Governance costs:-**
Independent Examiner Fee
Bank & Interest Charges
Relieving need (local)
Relieving need (international)
**Staff Costs:-**
Ministry Costs
Resources & Publications
Supporting International Mission
Sundry Expenses
Training Costs
Travel & Subsistence
Youth & Children's Work
**Charitable Activities**
Administrative Expenses
Conference Costs - Christian Mission
Contribution to churches/Relational
Mission Contribution
Evangelism
Equipment Costs|Unrestricted
Restricted
**Total**
**Total**
Funds
Funds
**2021/22**
**2020/21**
£
£
**£**
**£**
1,226
-
1,226
2,297
22,819
-
22,819
14,241
9,000
-
9,000
8,880
1,415
-
1,415
415
2,173
-
2,173
1,301
1,862
-
1,862
913
15,265
-
15,265
3,790
-
-
-
315
4,398
-
4,398
3,212
555
-
555
18
919
-
919
397
452
-
452
193
710
-
710
8,553
14,892
-
14,892
11,265
47,055
-
47,055
33,987
16,005
-
16,005
7,633
11,943
-
11,943
10,412
2,784
-
2,784
1,352
2,085
-
2,085
2,422
1,196
-
1,196
1,131|
|---|---|
||**156,753**
**-**
**156,753**
**112,728**|
This page does not form part of the statutory financial statements
14
## **THE WELLSPRING FAMILY CHURCH-DEREHAM (COMPANY LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31ST MARCH 2022**
## **5. RESTRICTED FUNDS**
## **CURRENT FINANCIAL YEAR**
|Supporting International
Mission
Training Support
Conferences (Incl.
Christian Mission)
Equipment Support
Relieving Local Need
Relieving International
Need|**Balance**
Gains &
**Balance**
**01-Apr-21**
Income
Expenditure
(Losses)
Transfer
**31-Mar-22**
£
£
£
£
**£**
(407)
3,393
-
-
-
2,986
9,539
23,136
-
-
-
32,675
1,400
19,206
-
-
-
20,606
718
-
-
-
-
718
373
1,200
-
-
-
1,573
(193)
-
-
-
-
(193)|
|---|---|
||**11,429**
**46,935**
**-**
**-**
**-**
**58,364**|
## **5. RESTRICTED FUNDS (Continued)**
## **PREVIOUS FINANCIAL YEAR**
|Supporting International
Mission
Training Support
Conferences (Incl.
Christian Mission)
Equipment Support
Relieving Local Need
Relieving International
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**|
The Restricted Funds are wholly represented by the Charity's cash reserves and are to be expended as specified above.
This page does not form part of the statutory financial statements
15
## **THE WELLSPRING FAMILY CHURCH-DEREHAM (COMPANY LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS (continued) FOR THE YEAR ENDED 31ST MARCH 2022**
## **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**||
|---|---|
|Current Account|Unrestricted
Restricted
**Total**
**Total**
Funds
Funds
**31-Mar-22**
**31-Mar-21**
£
£
**£**
**£**
52,116
58,364
110,480
64,328|
||**52,116**
**58,364**
**110,480**
**64,328**|
## **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**
|Independent Examiner's Fee
Stewardship (mortgage)|Unrestricted
Restricted
**Total**
**Total**
Funds
Funds
**31-Mar-22**
**31-Mar-21**
£
£
**£**
**£**
8,112
-
8,112
8,116
1,140
-
1,140
1,140|
|---|---|
||**9,252**
**-**
**9,252**
**9,256**|
## **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-22**
**31-Mar-21**
£
£
**£**
**£**
40,877
-
40,877
46,899|
|---|---|
||**40,877**
**-**
**40,877**
**46,899**|
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
16
## **THE WELLSPRING FAMILY CHURCH-DEREHAM (COMPANY LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS (continued) FOR THE YEAR ENDED 31ST MARCH 2022**
## **11. STAFF COSTS AND NUMBERS**
|Gross Wages & Salaries
Employer's National Insurance Costs
Employer's Pension Contributions|**TOTAL**
**2021/22**
**£**
47,055
16,005
11,943
**75,004**|**TOTAL**
**2020/21**
**£**
33,987
7,633
10,412|
|---|---|---|
|||**52,032**|
Average number of employees who were engaged in each of the following activities:
||**TOTAL**||**TOTAL**||
|---|---|---|---|---|
||**2021/22**||**2020/21**||
|Charitable Activities||3||2|
The Charity operates a PAYE scheme to pay all employed members of staff and no employees received emoluments in excess of £60,000. (2020/21- None)
## **12. DIRECTORS AND OTHER RELATED PARTIES**
During the financial year Directors Mr Jonathan Richard Beardon received £25,369 (2020/21: £24,761) in net salary related payments and £9895 (2020/21: £9,895) 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. RECONCILATION OF MOVEMENT ON 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-22|**2021/22**
**£**
52,179
-
**52,179**
158,172
**210,351**|**2020/21**
**£**
59,955
-|
|---|---|---|
|||**59,955**|
|||98,218|
|||**158,172**|
This page does not form part of the statutory financial statements
17
## **THE WELLSPRING FAMILY CHURCH-DEREHAM (COMPANY LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS (continued) FOR THE YEAR ENDED 31ST MARCH 2022**
## **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.
This page does not form part of the statutory financial statements
18
## **THE WELLSPRING FAMILY CHURCH-DEREHAM (COMPANY LIMITED BY GUARANTEE) INDEPENDENT EXAMINER’S REPORT ON THE ACCOUNTS FOR THE YEAR ENDED 31ST MARCH 2022**
Report to the trustees/ members of The Wellspring Family Church Dereham on the accounts for the year ended 31st March 2022.
## **Respective responsibilities of trustees and examiner**
The charity's trustees are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this year under section 144 of the Charities Act 2011 (the Charities Act) and that an independent examination is needed.
It is my responsibility to:
- examine the accounts under section 145 of the Charities Act,
- to follow the procedures laid down in the general Directions given by the Charity Commission (under section 145(5)(b) of the Charities Act, and
- to state whether particular matters have come to my attention
## **Basis of independent examiner’s statement**
My examination was carried out in accordance with general directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a ‘true and fair’ view and the report is limited to those matters set out in the statement below.
## **Independent examiner's statement**
In connection with my examination, no matter has come to my attention
1. which gives me reasonable cause to believe that in, any material respect, the requirements:
- to keep accounting records in accordance with section 130 of the Charities Act; and
- to prepare accounts which accord with the accounting records and comply with the accounting requirements of the Charities Act
have not been met; or
2. to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Donna Leppitt Independent Examiners Ltd Unit 2 The Broadridge Business Centre Delling Lane Bosham PO18 8NF Date: 30/08/2022
19