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2020-12-31-accounts

THE WELL, CHRISTIAN HEALING CENTRE

Report & Accounts

for the year ended 31[st] December 2020

THE WELL, CHRISTIAN HEALING CENTRE

( a company limited by guarantee )

for the year ended 31[st] December 2020

COMPANY INFORMATION

Trustees of the Charity and Directors of the Company:

Mr Kevin Broadbent Resigned 3rd July 2020 Mrs Dianne Bayfield Appointed 9[th] October 2020 Mrs Beryl Chisholm Appointed 8[th] October 2020 Rev’d Anne Hibbert Mr James Leng Mr Anthony O’Brien Chair Mrs Clare Phillips Appointed 5 January 2021 Mr Jonathan Tidd Mr Mark Wardle Dr Yvonne Warren Resigned 5 February 2021 Key Staff: Rev’d Anne Hibbert Director of Ministry and Founder Mr Mark Askew Executive Director Governing Document: Memorandum and Articles of Association of 12.02.2003, as amended by Resolution dated 19.03.2007 Company Registration No: 04664030 Charity Registration No: 1097443 Registered Office: 20 Augusta Place, Leamington Spa, CV32 5EL Independent Examiner: Ajay Rajani FCIE, Stewardship, 1 Lamb’s Passage, London EC1Y 8AB Bankers: Bank of Scotland

CONTENTS

Page:
Company Information 1
Directors’ Report 2-6
Independent Examiner’s Report 7
Statement of Financial Activities 8
Balance Sheet 9
Notes to the Accounts 10-18

Page 1

THE WELL, CHRISTIAN HEALING CENTRE

REPORT OF THE DIRECTORS

for the year ended 31 December 2020

WHO WE ARE AND WHAT WE DO

The Well Christian Healing Centre is a Christian charity formed in 2003. See our website for details - www.wellhealing.org

The Well offers healing prayer to people of any faith or none. We offer regular drop-in and online Healing Prayer sessions and Resting & Receiving Prayer, plus periodic Quiet Days and a variety of Healing Training events. We also offer events with Christian teaching, to equip, empower and resource Christians from local churches. We offer training courses to develop skills in prayer ministry and teaching days for equipping individual faith journeys or to offer insight into modern day conditions.

The Well seeks to advance the Christian faith (in accordance with the Statement of Beliefs contained in its Memorandum and Articles of Association).

THE WELL’S VISION & MISSION

The Well’s vision is to see people encounter the healing transformative love and power of God through The Well in Royal Leamington Spa.

The Well aspires to be a place of excellence, open six days a week for people from far and wide.

We offer a safe environment for healing prayer in the name of Jesus Christ.

The Well continues to pioneer Christian healing prayer and practice.

We offer regular events and learning experiences for people to discover more about God's healing power so that we equip people to further Jesus' healing ministry throughout our hurting world.

In answer to the question: "Does God heal today?" The Well's answer is a resounding "YES" and we yearn and work for more people to know this truth.”

Our mission is to see people experience God’s healing and wholeness in their lives. We long to see people encounter Him, have their lives transformed by Him and bring Him glory.

OBJECTS / AIMS OF THE CHARITY

(as in our Memorandum of Association of 12.02.2003 as amended by Resolution dated 19.03.2007)

“The Charity’s objects are to advance the Christian faith in accordance with the Statement of Beliefs appearing in the Schedule hereto in Leamington Spa and in such other parts of the United Kingdom or the world as the Directors of the Charity 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.”

GOVERNANCE and STRUCTURE

The Well has a Board of Trustees consisting of between seven and ten members who provide oversight and support to the Director of Ministry and the Executive Director.

During the year, the Trustees continued to work through the following Committees of the Board:

  1. Finance & Physical Resources Committee

  2. Human Resources Committee

  3. Safeguarding Committee.

Meanwhile Working Groups supported our

A C-19 Response Team was established in March 2020 to monitor and review The Well’s activities, performance and plans during the pandemic. This consisted of the Chairs of Trustees and Board Committees plus Staff Directors.

These Committees and Groups have served Trustees and Directors well; and have enabled them to operate efficiently and effectively through the year, while providing valuable support to the staff Directors.

Page 2

Risk :

In April 2020 Trustees conducted their annual Risk Review based on the Executive Director’s updated comprehensive Risk Register which continues to be used to regularly monitor our risks.

Staff

We now employ three full-time staff:

o NB: Whilst Rev’d Anne Hibbert is a full time member of staff, her appointment as a Trustee was formally approved by the Charity Commission in June 2007.

o And while she has remained a Trustee ever since, the Board judges this to be appropriate because of her unique knowledge and experience of the ministry of healing.

• Administrator We also employ 2 part time staff

Trustees

At our Annual General Meeting on 3rd July 2020 one trustee resigned. We were joined by two new trustees in October. This meant that during the year we had between six and eight Trustees, whose range of skills and experience covered the areas we felt we needed.

Identification of potential new Trustees is continuing with some success as we have had two new Trustees joining the Board in 2020 and one more in January 2021.

Accounting Year

2020 is the first full accounting year following the change to the financial year end in 2019. Where annual comparisons exist in these accounts, this point is repeated.

PUBLIC BENEFIT

In planning the activities of The Well, the Trustees have given consideration to the guidance on public benefit issued by the Charity Commission. The Well ensures that it fulfils its Vision, Mission and Objects (as shown above on page 2) - and thereby serves the local and wider communities who visit and support The Well – by seeking feedback in various ways and by conducting activities which engage sections of The Well Community.

Feedback comes in written and spoken testimonies from prayer ministry guests, Quiet Day participants, and conference attendees. Some of these testimonies are used in each edition of the Source, and on our website – including some in the form of short videos, which are very powerful in their impact. Many speak of significant healing in their lives – whether physical, emotional, psychological or spiritual.

Trustees receive a written summary of guests’ and participants feedback from the Director of Ministry before each Board meeting; and this prompts fruitful discussions. Feedback also leads to changes in the way we run our activities. Directors regularly brief The Well’s volunteer teams regarding its operations and the delivery of its ministry. This provides teams the opportunity for active feedback and the benefit of their experience which informs how The Well proceeds to develop its offering.

Despite the pandemic and its associated lockdown, The Well continued with its public ministry by conceiving, developing, and delivering online its Jeremiah 33:3 ministry and Rest & Receive from April 2020. In September The Well also began offering its events and conferences online with great success and a marked increase in attendance (e.g. Quiet Mornings are usually repeated and attract some 160 participants – compared with 30-50 who attended Quiet Days in the building).

REVIEW OF ACTIVITIES 2020

Prayer Ministry

The core activity of The Well is weekly public prayer ministry sessions , where we pray for healing for our guests – and regularly see God at work in their lives. We aim to hold prayer ministry sessions in 48 weeks of the year (allowing four weeks for Christmas & New Year staff holidays and team training during the year). We are open to people of all faiths and none. We attract people from far and wide. Due to the pandemic we had to reduce the number of weeks offered by 4 whilst we developed our online ministries – and we extended our understanding of “far and wide” by attracting people from other countries and indeed other continents.

Prayer is offered free of charge. The on-going provision of this ministry is dependent upon personal donations and we are very grateful to all our donors and supporters who enable us to provide this ministry through their generous giving. When we moved Quiet Mornings online, we decide to offer these free of charge, and were delighted to see the increase in numbers.

Page 3

In 2020, we saw 755 guests (2019 - 1322) and used 1,075 appointment slots . Some guests' prayer needs require longer than a standard appointment slot (30 minutes) as the issues that we are praying into can be complex. Online appointments started at 20 minutes, and gradually increased to 30 minutes.

We welcomed 239 new guests in 2020 (285 in 2019). We are delighted that new people come to experience prayer at The Well and we are encouraged that news of what The Well is offering continues to spread, often through word of mouth and the positive experiences of our guests. Testimonies from some of these guests are shared in our magazine, on our website, through text and video.

Rest and Receive Prayer

We also provide three "rest and receive" sessions per month at 20 Augusta Place and from April online. These involve a time of resting in the presence of God, which our guests find very peaceful and of great blessing. These sessions are also offered free of charge, though guests often make a donation. 472 people attended our sessions in 2020 (vs. 302 in the previous year).

Follow up for Guests

Where appropriate, our prayer team may suggest further appointments for guests with The Well or a range of other options. As our experience in prayer ministry has grown, prayers centred on specific topics have been developed. These include inner healing, praying into our beginnings (from conception to birth) and generational healing. 2020 saw the development of a brand new area of work named Life Ministry which focusses on perinatal issues. The nature of this ministry made it difficult to deliver online and so we look forward to a fuller implementation in 2021.

Guests may also benefit from connecting with a local church or attending an Alpha course (an introduction to the Christian faith) and we may make recommendations as to local venues they can visit. The Well is very clear that it is not a church and is not tied to any Christian denomination, in line with its policy of being for people of all faiths and none. It acts as a gateway to local churches. Other follow-ups could be to recommend counselling and we continue to develop networks with relevant organisations. The Well has connections with many varied churches and supporting organisations.

Events

During 2020 The Well delivered 4 conferences and 10 other events. During the period we had 788 devices logged into these events. Each device could have more than one attendee. Our conservative estimate is that we had 1,200 attendees at these events compared to 404 in 2019.

Fund-raising events, sponsorship and appeals

Fund raising was focussed on Government grants with some small grants (£1,800) being received in addition from granting bodies.

See Note 3 to the Accounts for more detail on sums raised.

Communications

We produced four copies of our newsletter/magazine “Source” These are available on our website and we distribute over 1,500 by email, plus some 700 hard copies free of charge to individuals, churches and other organisations on request. We also make Source available at local churches and at our own events.

The Well also sent four separate communication updates to our regular donors to keep them informed of The Well’s progress through the Covid restrictions.

People who receive our newsletter by email also receive regular interim news updates by email, with the information freely available on our website.

The Well has also increased its social media presence and has seen growing support on all of its social media platforms,

The Well’s website is a focus for our communications and is integral to our events booking systems.

FINANCIAL REVIEW 2020

The details of The Well's finances are in the accounts that follow on later pages. This review serves as a summary.

Page 4

INCOME

During the year income increased by £58,154, to £205,089, and expenditure increased by £13,603, to £193,818. As a result the charity was able to report a surplus of £11,271 (2019: a deficit of £33,280). Net assets increased by £11,271 to £847,585 and cash increased by £23,798 to £84,162.

These accounts cover a 12 month period whereas the accounts for the previous period covered a 10 month period and the longer accounting period contributes to the above increases in income and expenditure. Having said this, income has increased by more than might have been expected. Donation income benefitted from a large grant for £30,000 received from an organisation. This year the charity also benefitted from claims for pandemic related Government grants, which included a business support grant and Job Retention Scheme grants.

Conversely, given the longer accounting period, expenditure has increased by less than might have been expected. This was largely due to the effect of the pandemic on how the charity went about its activities.

SURPLUS AND FUNDS BALANCE

Total income was more than total expenditure by £11,271.

The Trustees remain aware that the objective is to generate an operating surplus each year and will carefully monitor income and expenditure to achieve this aim. Knowing that voluntary income is a significant part of the total income, Trustees and the staff team continue to work together to develop plans for increasing income from donations and from grant-based trusts.

DIRECTORS’ REPORT SUMMARY

The pandemic has transformed the ways in which The Well delivers its ministry. We see many exciting possibilities and we seek to establish the steps we should take to expand further. We continue to pray to be able to encourage more people to partner with us in the future, as we seek to expand our ministry and create more opportunities for people, from even farther and even wider, to come and encounter God and receive His healing.

RESERVES POLICY

The Directors have determined that the charity should aim to hold unrestricted cash of three months of budgeted expenditure (or about £54,000) so that the charity could continue to operate should income or expenditure vary adversely. At the year-end the charity held unrestricted cash of £82,662. The reserves position is monitored at regular meetings of the Finance and Physical Resources Committee, of the Directors, and of the Board of Trustees.

RISK STATEMENT

The Trustees and management team have reviewed the risks to which a small charity operating with few employees and a significant volunteer base is exposed. Appropriate general and public liability, professional indemnity and Trustee indemnity insurances have been obtained. Operational risks associated with the ministry activities and the holding of conferences have been reviewed and appropriate guidelines and policies agreed to ensure that any risk is minimised. Such matters are monitored as part of the on-going ministry and operations and have been reviewed in the light of transferring most of our activity online. Trustees formally review the process annually and produced an updated Risk Register in April. This is regularly reviewed by our Executive Director and the chairs of our Board Committees.

DIRECTORS’ RESPONSIBILITIES

The trustees are responsible for preparing the trustees' annual report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of the affairs of the charitable company as at the balance sheet date and of its incoming resources and application of resources, including income and expenditure, for the financial year. In preparing these financial statements, the trustees are required to:

  1. Select suitable accounting policies and apply them consistently.

  2. Observe the methods and principles in the Charities SORP;

  3. Make judgements and estimates that are reasonable and prudent.

  4. State whether the applicable accounting standards have been followed, subject to any material departures disclosed and explained in the accounts.

  5. Prepare the financial statements on a going concern basis unless it is inappropriate to presume that the company will continue in business.

Page 5

The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and 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.

The Directors believe they have met all these requirements and responsibilities.

APPROVAL

This report, which has been prepared in accordance with the provisions of the Companies Act 2006 relating to small companies, was approved by the trustees on …16/7……………………. 2021

and signed on their behalf by: Anthony O’Brien (Chair of Trustees)

Page 6

INDEPENDENT EXAMINER'S REPORT

TO THE TRUSTEES OF

THE WELL, CHRISTIAN HEALING CENTRE

('the Company')

I report to the charity trustees on my examination of the accounts of the Company for the period ended 31 December 2020 on pages 8 to 18 following, which have been prepared on the basis of the accounting policies set out on pages 10 and 11.

Responsibilities and basis of report

As the charity’s trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).

Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.

Independent examiner’s statement

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

  1. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act 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; or

  4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

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.

Ajay Rajani FCIE 23-Jul 2021 Stewardship 1 Lamb's Passage London

EC1Y 8AB

Page 7

THE WELL, CHRISTIAN HEALING CENTRE

Statement of Financial Activities

Including Income and Expenditure Account

for the year ended 31 December 2020

Note
INCOME AND ENDOWMENTS
FROM
Donations and legacies
3a
Charitable activities
3b
Other activities
3c
3d
Government Grants
3e
Total Income and endowments
EXPENDITURE
ON
Raising funds
4a
Charitable activities
4b
Total Expenditure
Net income / (expenditure)
Transfers between Funds
Net Movement in Funds
Reconciliation of Funds
Total Funds brought forward
11
Total Funds carried forward
11
Investments		 Year ended 31
December 2020
Year ended 31
December
2020
Year ended 31
December
2020
Mar-Dec
2019
Mar-Dec
2019
Mar-Dec
2019
Unrestricted
Restricted
Total
Unrestricted
Restricted
Total
Funds
Funds
Funds
Funds
Funds
Funds
£
£
£
£
£
£
160,127
700
160,827
116,653
795
117,448
8,778
-
8,778
23,214
-
23,214
799
-
799
5,835
-
5,835
243
-
243
438
-
438
34,442
-
34,442
-
-
-
204,389
700
205,089
146,140
795
146,935
2,157
-
2,157
8,433
-
8,433
191,661
-
191,661
171,782
-
171,782
193,818
-
193,818
180,215
-
180,215
10,571
700
11,271
(34,075)
795
(33,280)
1,773
(1,773)
-
-
-
-
12,343
(1,073)
11,271
(34,075)
795
(33,280)
833,741
2,573
836,314
867,817
1,778
869,594
846,085
1,500
847,585
833,741
2,573
836,314

The statement of financial activities includes all gains and losses recognised in the year.

The notes on pages 10-18 form part of these accounts.

Page 8

THE WELL, CHRISTIAN HEALING CENTRE

Note
FIXED ASSETS
6
CURRENT ASSETS
Debtors
7
Cash at bank
8
LIABILITIES
Creditors: Amounts falling due within one year
9
Net current assets or liabilities
Total assets less current liabilities
Creditors: Amounts falling due after more than one year
10
NET ASSETS
FUND BALANCES
Unrestricted Funds
General Fund
11
Designated Funds
11
Restricted Funds
11
Balance Sheet
for the year ended 31 December 2020		 31-Dec-20
£
1,043,994
5,606
84,162
89,768
22,029
67,739
1,111,733
264,148
847,585
832,683
13,402
846,085
1,500
847,585		 31-Dec-19
£
1,069,718
2,825
60,364
63,189
23,006
40,183
1,109,901
273,587
836,314
823,152
10,589
833,741
2,573
836,314

The notes on pages 10-18 form part of these accounts.

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2020 in accordance with Section 476 of the Companies Act 2006 however, in accordance with Section 145 of the Charities Act 2011, the accounts have been examined by an independent examiner and their report has been included in these financial statements.

The directors (who are the charitable company's trustees for the purposes of charity law) acknowledge their responsibilities for:

The financial statements have been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on and were signed on its behalf by:

by: Mr A O'Brien - Chair of Trustees 16/7 2021 Company Number: 04664030

Charity Number: 1097443

Page 9

THE WELL, CHRISTIAN HEALING CENTRE

Notes to the Accounts

for the year ended 31 December 2020

1 Statutory Information

The charity is a charitable company limited by guarantee and is incorporated in the United Kingdom. The company's registered number and registered office address can be found on the Company Information page.

2 Accounting Policies

These financial statements are prepared on a going concern basis, under the historical cost convention.

These 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 (FRS 102) ("the Charities SORP"), with the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland ("FRS 102"), with the Companies Act 2006 and with the Charities Act 2011. The charity meets the definition of a public benefit entity as set out in FRS 102.

The principles adopted in the preparation of the financial statements are set out below.

a) Going concern

The trustees (who are the charitable company's directors for the purposes of company law) have assessed whether the use of the going concern basis is appropriate and have considered possible events or conditions that might cast significant doubt on the ability of the charity to continue as a going concern. The trustees have made this assessment for a period of at least one year from the date of approval of the financial statements. In particular the trustees have considered the charity's forecasts and projections and the possible implications should projected income and / or expenditure vary unexpectedly. The trustees have concluded that there is a reasonable expectation that the charity has adequate resources to continue to operate for the foreseeable future. The charity therefore continues to adopt the going concern basis in preparing its financial statements.

b) Income

Income including investment income is recognised in the period in which the charity becomes entitled to receipt, the amount receivable can be measured with reasonable certainty, and receipt is probable. For the most part, income is generally recognised when it is received. Income is only deferred when the charity has to fulfil conditions before becoming entitled to it or where the donor has specified that the income is to be expended in a future period.

Income from donations and legacies includes recoverable gift aid, which is recognised when the related donation is received. Gift aid that has not been recovered by the balance sheet date is included as a debtor.

The charity relies on volunteers to carry out many of its activities. However, in accordance with the SORP, the value of these services has not been included in these financial statements as they cannot be reliably measured.

Income from charitable activities represents income receivable from goods, services and facilities supplied in furtherance of the charity's charitable objects. It includes income from training courses, conferences and ministry days.

c) Expenditure

Expenditure, including irrecoverable VAT, is recognised when it is incurred or, if earlier, when a legal or constructive obligation for a payment arises provided that it is probable that settlement will be required and the amount of the obligation can be measured reliably.

Governance costs, which are included in expenditure on charitable activities but are identified separately in the notes to the accounts, includes costs associated with the independent examination of the financial statements, compliance with constitutional and statutory requirements and any other expenditure incurred on the strategic management of the charity.

d) Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the trustees in furtherance of the general objectives of the charity. Designated funds comprise unrestricted funds that have been set aside by the trustees for particular purposes. Restricted funds are donations which are to be used in accordance with specific restrictions imposed by donors; they include donations received from appeals for specific activities or projects.

e) Tangible fixed assets

Items purchased or donated for the charity's own use are capitalised when the cost of purchased items, or the fair value of donated items, is more than £1,000 and the item is expected to benefit the charity over more than one accounting period. Depreciation is charged on a straight line basis so as to write down the value of each asset to its estimated residual value (if any) over its expected useful economic life. To achieve this objective the following rates of depreciation are charged:

Freehold land Is not depreciated (because it is not consumed by use) Freehold buildings Over 50 years after taking account of the building's residual value Equipment, furniture and fittings Over 3 to 5 years

The carrying values of tangible fixed assets are reviewed for impairment in periods when events or changes in circumstances indicate that the carrying value may not be recoverable.

Page 10

THE WELL, CHRISTIAN HEALING CENTRE

Notes to the Accounts

for the year ended 31 December 2020

f) Pension scheme arrangements

The charity operates defined contribution pension schemes for its employees. Obligations for contributions to these schemes are recognised as an expense when the liability arises. The assets of these schemes are held separately from those of the charity in independently administered funds.

g) Taxation

The company is a registered charity; it has taken advantage of the various reliefs from taxation available to charities and no tax is payable on the charity's income.

h) Financial instruments

The charity's financial assets and financial liabilities all qualify as basic financial instruments, as defined by FRS102. Except for loans, creditors and debtors are measured at their expected settlement value (normally the amount of cash that the charity expects to pay or receive). The charity recognises liabilities for the principal of those loans that remains outstanding at the year end (i.e. the liabilities exclude any interest chargeable on the loans in future years).

i) Exemption from preparing a cashflow statement

The charity has taken advantage of an exemption conferred by the Charities SORP and has not prepared a cash flow statement.

3 INCOME

**a) ** Donations and legacies
Committed giving
Other donations
Tax recoverable (gift aid)		 Unrestricted
Restricted
Total
Total
Funds
Funds
31 Dec 2020
Mar-Dec
2019
£
£
£
£
78,472
700
79,172
65,847
64,789
-
64,789
34,345
16,866
-
16,866
17,256
160,127
700
160,827
117,448

The above table shows that donation income has increased by £43,379. Had the previous reporting period been for a 12 month period then, on a pro-rata basis, the accounts would show that income had increased by just under £20,000. This was largely due to a donation for £30,000 from an organisation. Committed giving represents funds from donors who give by standing order on a monthly/quarterly/annual basis. Our supporters have largely maintained these donations even in these trying times. As a percentage of donation income, the gift aid recoverable on donations fell from 17% in 2019 to 12% in 2020. This was largely because the big donation mentioned earlier did not qualify for gift aid. Also a few first time donors have not, so far, signed up for gift aid.

In accordance with SORP requirements, the value of donations given by Trustees and other related parties in the year was £13,940 (vs. £7,062 in 2019 - 10 months).

**b) ** Income from Charitable Activities
Training courses
Speaking fees
Conference/Pathway teaching day income
Quiet days		 Unrestricted
Restricted
Total
Total
Funds
Funds
31 Dec
2020
Mar-Dec
2019
£
£
£
£
2,263
-
2,263
3,476
2,010
-
2,010
10,328
90
-
90
938
4,415
-
4,415
8,473
8,778
-
8,778
23,214

2020 saw us move all of our activities online over the course of the year. This impacted on our ability to present the range and number of events we would normally expect.

Income from Quiet Days declined significantly because we decided to offer Quiet Mornings free of charge - and we believe this encouraged some 3 or 4 times the number of people to access them.

Training courses underwent a transition last year moving to an online and more modular approach. Due to the Covid restrictions we only ran 2 training courses in 2020

We held 10 Quiet Mornings in the year vs 12 days in the previous year.

Speaking engagements - During the year, Anne Hibbert was invited to speak at various different online events and the income shown reflects the monies given voluntarily.

We held 2 Listening To God conferences in the year despite the restrictions.

Page 11

THE WELL, CHRISTIAN HEALING CENTRE

Notes to the Accounts

for the year ended 31 December 2020

3
**c) **		 INCOME Continued
Income from other activities
Sponsorship/Event income
Product sales
Room hire		 Unrestricted
Restricted
Total
Total
Funds
Funds
31 Dec
2020
Mar-Dec
2019
£
£
£
£
171
-
171
3,155
628
-
628
1,767
0
-
0
913
799
-
799
5,834

Unrestricted funds

We were not able to run any fundraising events in 2020. A small residual income was received from small fundraising activities and the sale of equipment.

Product sales - The charity does not receive donated goods. During the year, sales of notelets, other hand made cards and CDs has raised £628.

Restricted funds

There were no events to raise funds for the restricted funds this year.

d)
e)		 Building Society and Bank interest
This year's reduction in interest was largely due to a fall in the rates of inte
Investment Income
Job retention scheme grants
Business support grants
Government Grants		 Unrestricted
Restricted
Total
Total
Funds
Funds
31 Dec
2020
Mar-Dec
2019
£
£
£
£
243
-
243
438
Unrestricted
Restricted
Total
Total
Funds
Funds
31 Dec
2020
Mar-Dec
2019
£
£
£
£
23,108
23,108
-
11,334
11,334
-
rest paid on bank deposits.
34,442 - 34,442 -

The Well accessed all eligible Government funding assistance available during the year both by furloughing staff as well as various business support grants,

4 EXPENDITURE

**a) ** Raising Funds
"Just Giving" subscription costs
Stationery, printing and postage
Training and travel
Other fund raising costs
Professional fees - fund raising		 Unrestricted
Restricted
Total
Total
Funds
Funds
31 Dec
2020
Mar-Dec
2019
£
£
£
£
216
-
216
180
1,450
-
1,450
3,245
179
-
179
4,167
35
-
35
-
277
-
277
841
2,157
-
2,157
8,433

We continue to use the services of a professional fund-raising advisor, which has been productive as we have grown our regular donor base through our appeals and the coordination of a strategy for our communication with supporters. Due to the Covid restrictions our fund raising costs were reduced in 2020 because of the reduced fundraising activities.

Page 12

THE WELL, CHRISTIAN HEALING CENTRE

Notes to the Accounts

for the year ended 31 December 2020

b) Charitable activities

The charitable activities include the prayer ministry, delivering training courses about healing prayer and holding events to equip and empower the Christian community. These activities are supported by a small employed staff team and many volunteers.

The cost of staff who spend the majority of their time on ministry are included under the heading 'Direct Charitable Costs'; the cost of staff who spend the majority of their time on support activities are included under the heading 'Support and Administration'. Revd. Anne Hibbert, who is the Founder and Director of Ministry and also a paid staff member has typically spent over 80% of her time in ministry and training activities, with the balance of her time being involved in supporting the management, marketing, development and governance of the charity. The other paid staff are involved in various activities, providing organisational and administrative support for ministry, our courses and events and other activities like finance, marketing, PR and fund raising. The contribution made by volunteers is not included in these accounts but without them, the charity would not be able to function.

4 EXPENDITURE Continued

4 EXPENDITURE Continued
Direct Charitable Costs
i) Ministry and events
Training and Quiet Day Event costs
"Listening to God" Conference/Pathway event costs
Training resources
Ministry dev't/training
Room hire
Refreshments
Pension and other staff costs
Staff costs
Printing, copying, stationery
Small equipment & fittings
Travel		 Unrestricted
Restricted
Total
Total
Funds
Funds
31 Dec
2020
Mar-Dec
2019
£
£
£
£
48,291
-
48,291
37,844
7,449
-
7,449
5,897
-
-
-
296
-
-
-
-
10
-
10
431
227
-
227
113
7
-
7
771
126
-
126
748
721
-
721
3,031
406
-
406
932
1,310
-
1,310
1,966
58,547
-
58,547
52,029

The above table shows that ministry and event costs have increased by £6,518. Had the previous reporting period been for a 12 month period then, on a pro-rata basis, the accounts would show that expenditure had fallen by just under £4,000. This is largely due to the impact of the pandemic, which changed how the charity went about its activities.

Page 13

THE WELL, CHRISTIAN HEALING CENTRE

Notes to the Accounts

for the year ended 31 D
ii) Support and Administration
Professional fees - PR/Marketing
Subscriptions (inc PayPal account fees)
Furnishings
Governance costs - Independent Examination
Stationary, printing and postage
Computer - printer/website/software
Mortgage interest
Finance charges (inc PayPal transaction charges)
Training
Telephone
Prof Fees - Other
Professional fees - Accounting/other
Premises costs (utilities/room hire)
Insurance
Depreciation
Travel
Sundry costs
Staff costs
IT support costs
Governance costs
Key changes in support and administration expenditure:		 ecember 2020
Unrestricted
Restricted
Total
Total
Funds
Funds
31 Dec
2020
Mar-Dec
2019
£
£
£
£
67,356
-
67,356
50,036
3,797
-
3,797
4,391
6,352
-
6,352
3,672
2,003
-
2,003
1,729
375
-
375
4,075
3,953
-
3,953
5,331
-
-
-
-
-
-
-
247
12
-
12
27
2,210
-
2,210
2,519
25,724
-
25,724
22,626
2,250
-
2,250
1,913
326
-
326
297
541
-
541
500
10,229
-
10,229
9,481
306
-
306
377
5,924
-
5,924
9,673
395
-
395
1,220
1,310
-
1,310
1,474
51
-
51
164
133,114
-
133,114
119,753

The above table shows that support and administration costs have increased by £13,361. Had the previous reporting period been for a 12 month period then, on a pro-rata basis, the accounts would show that expenditure had fallen by about £10,000. Again, this is largely due to the impact of the pandemic.

Combined charitable activity cost - Section b - i) and ii) 191,661 - 191,661 171,782

Page 14

THE WELL, CHRISTIAN HEALING CENTRE

Notes to the Accounts

for the year ended 31 December 2020

c Grants

The Well does not make grants to other organisations.

5 Staff & Trustees

The Well operates with a small paid staff team and many unpaid volunteers who support the ministry and events. In the period the charity had 3 full-time employed staff - the Executive Director, Director of Ministry and the Operations Co-ordinator, and 2 part time staff members - PA to the Director of Ministry and a Caretaker. This has remained unchanged from 2019. The accounts show that staff costs have increased. This is because (i) these accounts are for a 12 month period whereas the previous year's accounts were for a 10 month period (ii) this year's staff costs include a full year's charge for staff employed only for part of the previous period and (iii) a small increase in rates of pay.

A contribution continues to be made to a personal pension plan for the Director of Ministry (who is also a Trustee). All other staff are members in a workplace pension (unless they have chosen to "opt out"), in compliance with the Pensions regulations.

Remuneration, including employer's pension contributions, paid to key management personnel (Executive Director and Director of Ministry) amounted to £79,626 (Mar - Dec 2019 £63,117).

The Charity Commission have approved the payment of remuneration to Anne Hibbert (Director Of Ministry and Trustee). Her salary for the year is £32,330 and employer pension contribution £3,189 (Mar - Dec 2019 £28,953 & £2,605).

Except for the reimbursement of expenses incurred when acting as employee or agent, no expenses were paid to (or for) any trustee.

6 Tangible Fixed Assets
Cost
At 01/01/2020
Disposals
Additions
At 31/12/2020
Accumulated Depreciation
At 01/01/2020
Charge for the period / year
Disposals
At 31/12/2020
Net book value
At 31/12/2020		 Land
Buildings
Office Equipment
Furniture &
Total
Total
Fittings
31 Dec 2020 Mar-Dec 2019
£
£
£
£
£
£
400,000
673,631
17,328
37,638
1,128,596
1,123,665
-
-
-
-
-
-
-
-
-
-
-
4,931
400,000
673,631
17,328
37,638
1,128,596
1,128,596
-
24,122
14,840
19,916
58,878
36,252
-
13,473
1,790
10,461
25,724
22,626
-
-
-
-
-
-
-
37,595
16,629
30,377
84,602
58,878
400,000
636,036
699
7,261
1,043,994
1,069,718

In October 2016, The Well purchased a building - 20 Augusta Place - in Leamington for £450,000 with the support of a commercial mortgage. The Trustees have taken a view that of the purchase price paid, £400,000 represented the land value (which is not depreciated) and the balance of the purchase price £50,000 represents the building value, before renovations. Renovations including professional fees totalling £623,631 have been capitalised. The building cost will be depreciated over 50 years.

7 Debtors and Prepayments
Gift aid recoverable
Other Debtors
Job retention scheme grants
Prepayments
8 Cash at Bank and in Hand
Bank - current and deposit accounts
Petty cash		 31 Dec 2020 Mar-Dec 2019
£
£
1,188
1,712
-
-
3,128
-
1,290
1,113
5,606
2,825
31 Dec 2020 Mar-Dec 2019
£
£
83,933
60,185
229
179
84,162
60,364

Page 15

THE WELL, CHRISTIAN HEALING CENTRE

Notes to the Accounts

for the year ended 31 December 2020

9 Creditors: liabilities falling due within one year
Income received in advance of event date
Accruals
Mortgage
PAYE/Payroll
Suppliers		 31 Dec 2020 Mar-Dec 2019
£
£
1,131
5,011
1,044
1,044
2,291
1,530
15,378
13,320
2,185
2,101
22,029
23,006

Deferred income comprises income received in advance for events that took place in the following year.

Creditors: liabilities falling due after more than one year
Mortgage
Between 1 and 5 years
More than 5 years		 31 Dec 2020 Mar-Dec 2019
£
£
70,512
62,879
193,636
210,708
264,148
273,587

10 Creditors: liabilities falling due after more than one year

The charity took out a mortgage of £315,000 in October 2016 to help fund the purchase of 20 Augusta Place. The term of the mortgage is 20 years and was split into two equal tranches - £157,500 on a variable rate of interest and £157,500 on a 5 year fixed rate of interest. Monthly payments of both capital and interest are being made in respect of both tranches. The mortgage is secured on the charity's property.

11 Funds

Unrestricted Funds
General funds
Designated funds
Sabbatical fund - AH
Streams
Listening to God (LTG)
Unrestricted Funds
General funds
Designated funds
Sabbatical fund - AH
Streams
Listening to God (LTG)
Year to 31 December 2020
Mar 19 - Dec 19(prior year comparative)		 Opening
Incoming
Outgoing
Movement
Transfers
Closing
balance
resources
resources
for period
in period
balance
£
£
£
£
£
£
823,152
199,752
191,994
7,758
1,773
832,683
748
-
-
-
-
748
707
243
396
(152)
-
555
9,134
4,393
1,428
2,965
-
12,099
833,741
204,388
193,818
10,571
1,773
846,085
Opening
Incoming
Outgoing
Movement
Transfers
Closing
balance
resources
resources
for year
in year
balance
£
£
£
£
£
£
863,316
136,200
176,363
(40,163)
-
823,152
1,044
-
296
(296)
-
748
851
1,325
1,469
(144)
-
707
2,605
8,615
2,086
6,529
-
9,134
867,816
146,140
180,214
(34,074)
-
833,741

The Sabbatical fund is a designated fund, holding donor gifts, for the purposes of Revd. Anne Hibbert taking time out for refreshment and renewal.

The Streams fund is related to the "Streams in the Desert" ministry that is under The Well's stewardship, but is led and organised by Anne Hibbert and a small volunteer committee. Streams usually offers 5 events per year on Monday evenings for ladies, including worship, teaching and prayer. The events are not charged for but donations are encouraged and there are expenses related to gifts to visiting speakers, refreshments and craft materials for prayer activities. Only one of these events ran during 2020.

The 'Listening to God' Fund is an unrestricted fund reflecting the running of conferences. It should be noted that the cost of staff time involved in managing such events and Well overheads are not re-charged to LtG funds.

Page 16

THE WELL, CHRISTIAN HEALING CENTRE

Notes to the Accounts

for the year ended 31 December 2020

Restricted Funds

The restricted funds represent amounts received for specific purposes and the movements in the period are as follows:

Anne Hibbert Fund
New building Furnishings Fund
Anne Hibbert Fund
New building Furnishings Fund
Mar 19 - Dec 19(prior year comparative)
Year to 31 December 2020		 Opening
Incoming
Outgoing
Movement
Transfers
Closing
balance
resources
resources
for period
in period
balance
£
£
£
£
£
£
1,073
700
-
700
(1,773)
0
1,500
-
-
-
-
1,500
2,573
700
-
700
(1,773)
1,500
Opening
Incoming
Outgoing
Movement
Transfers
Closing
balance
resources
resources
for year
in year
balance
£
£
£
£
£
£
277
796
-
796
-
1,073
1,500
0
-
-
-
1,500
1,777
796
-
796
-
2,573

The Anne Hibbert Fund was created by donations and other income received to help pay Anne a salary whilst she was “living by faith”. In 2006/07 the Trustees decided that the general fund should assume full responsibility for Anne’s salary. As the original purpose for the fund had passed, donors to the fund have been asked to transfer their giving to the general fund and the income received by this restricted fund has been gradually reducing. At the end of 2020 the balance on the fund was transferred to the general fund to help meet the cost of Anne’s salary.

The New Building Furnishings Fund income was the result of an appeal for funds to "equip" 20 Augusta Place with many items needed, from furniture to general items (like cleaning materials). The fund has been used to purchase all that was needed. There is £1,500 carried forward to the new year relating to donations for items that have not yet been purchased. We aim to spend the remainder of this fund during 2021.

Page 17

THE WELL, CHRISTIAN HEALING CENTRE

Notes to the Accounts

for the year ended 31 December 2020

Funds cont'd

11 The assets and liabilities represented by the various funds are as follows: The assets and liabilities represented by the various funds are as follows:
Fixed Bank & cash Other net Total
31 Dec
assets balances assets 2020
Year to 31 December 2020 £ £ £ £
Restricted funds
Anne Hibbert Fund - - - -
New building Furnishings Fund - 1,500 - 1,500
- 1,500 - 1,500
Unrestricted funds
Listening to God Fund - 12,579 (480) 12,099
Sabbatical Fund AH - 748 - 748
Streams - 555 - 555
General Fund 1,043,994 68,780 (280,091) 832,683
1,043,994 82,662 (280,571) 846,085
Total Funds 1,043,994 84,162 (280,571) 847,585
Fixed Bank & cash Other net Total
assets balances assets Dec 2019
Mar 19 - Dec 19 (prior year comparative) £ £ £ £
Restricted funds
Anne Hibbert Fund - 1,073 - 1,073
New Building Furnishings Fund - 1,500 - 1,500
- 2,573 - 2,573
Unrestricted funds
AH sabbatical fund - 748 - 748
Listening to God Fund - 9,434 (300) 9,134
Streams - 707 - 707
General Fund 1,069,718 46,902 (293,468) 823,152
1,069,718 57,791 (293,768) 833,741
Total Funds 1,069,718 60,364 (293,768) 836,314

12 Members

Each member of the company commits to contribute an amount not more than £10 if the company is wound up.

Page 18