## **THE WELL CHRISTIAN HEALING CENTRE**
Report & Accounts
for the year ended 31[st] December 2023
Approved by Trustees 7[th] September 2024
## **THE WELL, CHRISTIAN HEALING CENTRE**
(a company limited by guarantee)
for the year ended 31[st] December 2023
## **COMPANY INFORMATION**
Trustees of the Charity and Directors of the Company:
Mrs Beryl Chisholm Rev’d Anne Hibbert Rev’d Rachel King Appointed 15[th] June 2023 Mr Mark Peers Mrs Clare Phillips Mr Jonathan Tidd Key Staff: Rev’d Anne Hibbert Director of Ministry Mr Andrew Blount Well Director (Appointed September 2023) 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: Sarah Crispin ACA 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 10-17
Page 1
## **THE WELL, CHRISTIAN HEALING CENTRE**
## **REPORT OF THE DIRECTORS**
for the year ended 31 December 2023
## **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 drop-in and online sessions of Healing Prayer, Rest & Receive Prayer, periodic Quiet Mornings, 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 enhancing wellbeing and/or equipping individual faith journeys or to offer insight into modern day challenges.
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.
## **OBJECTIVES / 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 objectives 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 four and ten members who provide oversight and support to the Well Director and Director of Ministry.
During the year, the Trustees continued to work through the following Committees of the Board:
1. Finance & Physical Resources Committee
2. Human Resources Committee
These Committees 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
## **Risks**
The trustees met regularly throughout the year to review and address emerging risks. The trustees met eleven times during 2023 to address risks and focus on next steps on The Well’s journey with the support of a Development and Communications consultant in Q1. After the key appointment of the Well director in Q3, the trustees met with the Well Director to complete a full review of risks against our risk appetite and agree the mitigating actions and ownership.
## **Staff**
We had a number of staff changes during the year – starting with the appointment of 2 full time staff members and the stepping down of a temporary part-time staff member who had kindly supported the work on an interim basis.
Full time Staff members
- Well Director (September 2023)
- Director of Ministry -
- Whilst the Director of Ministry is a full-time member of staff, her appointment as a Trustee was formally approved by the Charity Commission in June 2007.
- 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.
- Operations and Communications Coordinator (April 2023)
Part time staff members:
- PA to the Director of Ministry (3 days)
- Caretaker (14 hours)
## **Trustees**
During the year we were joined by one new trustee in June 2023. This meant that during the year we had between five and six Trustees, whose range of skills and experience covered the areas we felt we needed.
The interim chair of Trustees during the year was Jonathan Tidd.
The identification of potential new Trustees is an ongoing process as we prayerfully seek further individuals to join the board.
## **PUBLIC BENEFIT**
In planning the activities of The Well, the Trustees have considered the guidance on public benefit issued by the Charity Commission. The Well ensures that it fulfils its Vision, Mission, and Objectives (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 Morning participants, and conference attendees. Some of these testimonies are used in each edition of the Source Magazine, 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.
The Director of Ministry leads the ministry teams and shares feedback at each trustee meeting. Other Trustees volunteer during ministry and events and engage regularly with staff and key volunteers. The combination of these mean that the Trustees experience the services and receive active feedback from staff, volunteers and guests. This feedback results in improvements to the way we run our activities.
The Well continued with its public ministry by delivering regular prayer appointments and Rest & Receive throughout the year.
Page 3
## **REVIEW OF ACTIVITIES 2023**
## **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). We are open to people of all faiths and none. We attract people from far and wide. During 2023 we held three prayer ministry sessions per week.
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.
## **Quiet Mornings**
During 2023 Quiet Mornings were offered both online (£10 per log-in) and in-person (£15 per person) with increasing impact during the year.
## **Rest and Receive Prayer**
We aim to provide three "rest and receive" sessions per month and in 2023 these were held both online and in person. They involve a time of resting in the presence of God, which our guests find very peaceful and of great blessing. These sessions are free of charge, though guests often make a donation.
## **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.
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 2023 The Well expanded the number of events it offered throughout the year.
We held our first men's event (breakfast) in 3 years, seeing over 50 men gathered in the main Encounter space. We also held two Pathways Events with a guest speaker looking at how best to support young people and their mental health.
Once again this saw more people engaging with The Well and the wonderful Encounter space.
|**2023** **Events**|**In person**|**Online**|
|---|---|---|
||||
|Quiet mornings|7|4|
|Rest and receive|14|17|
|Online Prayer(single sessions)||69|
|Foundations 1|1|0|
|External Training|1||
|Team training|3||
|Creative events|0||
|Streams|5||
|Streams breakfast|3||
|Men's Breakfast|1||
|PathwayEvents|3||
Page 4
Total guest attendances:
- Prayer Ministry Appointments: 655 of which 69 were online prayer sessions
- • Quiet mornings: 231 in person and 94 online • Pathways Events: 80 • Team Training: 22
- Men’s Breakfast: 55
- • So Close Worship Event: 49 • Streams in the Desert: 500 • Streams Breakfast: 75 • Rest and Receive Events: Online 441 and 212 in person • Foundations 1: 23
## **Fund-raising events, sponsorship, and appeals**
In November 2022 we held an appeal to our existing database of supporters towards supporting the Vision of Chapter 2 and to raise funds for the day-to-day activities of The Well.
See Note 3 to the Accounts for more detail on sums raised.
## **Communications**
We published one newsletter/magazine (The Source) during Spring of 2023, once again highlighting and promoting the excellent work of The Well with guest testimonies, fundraising appeal and promotion of upcoming events. This and previous versions are available on our website. We distributed over 1,500 by email, and 700 hard copies to individuals, churches and other organisations on request.
People who receive our newsletter by email also receive regular news updates, with up-to-date information available on our website.
The Well also continued to improve its social media presence throughout 2023 on X (formerly Twitter), Instagram, and Facebook. The Well’s website is our focus for communications and is integral to our in-house events booking system. This is linked to the website to manage guest attendance and communications.
## **FINANCIAL REVIEW 2023**
The details of The Well's finances are in the accounts that follow on later pages. This review serves as a summary.
## **INCOME**
During the year income increased to £213,731 (2022:£184,901), and expenditure increased slightly to £173,275 (2022:£172,771). As a result, the charity was able to report a surplus of £40,456 (2022:surplus of £12,130). Net assets increased by £40,456 to £876,689 and cash decreased from £84,048 to £64,535 at year end (see note on interest free loans received at the year-end).
Income increased due to the 12-72-500 campaign launched in November 2022 and donations continued into 2023. Two interest free loans were received (see note 10) to reduce the mortgage interest payments.
## **SURPLUS AND FUNDS BALANCE**
Total income was more than total expenditure by £40,456.
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.
Page 5
## **DIRECTORS’ REPORT SUMMARY**
During 2023 the Trustees have leaned into a vision of moving onto chapter 2 of the Well’s story. We see a great need for physical, mental, emotional and spiritual healing in society and an opportunity for The Well’s ministry to help meet that need.
We are hugely grateful to the response of our supporters to the 12:72:500 appeal launched at the end of 2022. So many of our supporters have prayerfully engaged with the Well’s vision and mission and donated generously to help rebuild our finances, cover operational cost and secure this vital prayer ministry for all in the heart of Leamington Spa. We are so thankful to those who have helped to significantly reduce the impact of our mortgage debt at a time of rising interest rates.
This financial headroom has enabled to the Trustees to secure current ministry provision and start to grow and plan ministry towards being open 6 days a week for ministry and other events.
## **RESERVES POLICY**
The Directors have determined that the charity should aim to hold unrestricted cash of three months of budgeted expenditure (or circa £47,000 in 2024) so that the charity could continue to operate should income or expenditure vary adversely. At the year-end, the charity held unrestricted cash of £57,934. The reserves position is monitored at regular meetings of the Finance and Physical Resources Committee 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 are in place. 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. These matters are monitored as part of the on-going ministry and operations and have been reviewed in the light of the effects of the pandemic, the Ukrainian war, inflation, interest rates, and the general impact of the cost-of-living crisis on our guests, supporters, and volunteers.
## **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.
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 7[th] September 2024.
And signed on their behalf by: Jonathan Tidd (Interim 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 2023 on pages 8 to 17 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.
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.
## Sarah Crispin ACA
Date
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 2023**
|||**Year ended 31**|**Year ended 31**|**Year ended 31**|**Year ended 31**|**Year ended 31**|**Year ended 31**|**Year ended 31**|
|---|---|---|---|---|---|---|---|---|
|||**December**|**December**|**December**|**December**|**December**||**December**|
|||**2023**|**2023**|**2023**|**2022**|**2022**||**2022**|
|||**Unrestricted**|**Restricted**|**Total**|**Unrestricted**|**Restricted**||**Total**|
|||**Funds**|**Funds**|**Funds**|**Funds**|**Funds**||**Funds**|
||Note||||||||
|||£|£|£|£|£||£|
|**INCOME AND ENDOWMENTS**|||||||||
|**FROM**|||||||||
|Donations and legacies|3a|146,400|55,545|201,945|178,202|400||178,602|
|Charitable activities|3b|7,183|-|7,183|4,888|-||4,888|
|Other activities|3c|4,156|-|4,156|1,369|-||1,369|
|Investments|3d|447|-|447|42|-||42|
|**Total Income and endowments**||158,186|55,545|213,731|184,501|400||184,901|
|**EXPENDITURE**|||||||||
|**ON**|||||||||
|Raising funds|4a|216|-|216|6,084|-||6,084|
|Charitable activities|4b|173,059|-|173,059|166,687|-||166,687|
|**Total Expenditure**||173,275|-|173,275|172,771|-||172,771|
|**Net income / (expenditure)**||(15,089)|55,545|40,456|11,730|400||12,130|
|**Transfers between Funds**||57,545|(57,545)|-|400|(400)||-|
|**Net Movement in Funds**||42,456|(2,000)|40,456|12,130||0|12,130|
|**Reconciliation of Funds**|||||||||
|Total Funds brought forward|11|827,633|8,600|836,233|815,503|8,600||824,103|
|**Total Funds carried forward**|11|870,089|6,600|876,689|827,633|8,600||836,233|
All income and expenditure derive from continuing operations.
The statement of financial activities also complies with the requirements for an income and expenditure account required by the Companies Act 20 The statement of financial activities includes all gains and losses recognised in the year. The notes on pages 10-17 form part of these accounts.
## **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**
**As at 31December 2023**|**31-Dec-23**
**£**
995,878
3,660
64,535
68,195
18,205
49,990
1,045,868
169,179
876,689
868,407
1,682
870,089
6,600
876,689|**31-Dec-22**
**£**
1,009,796|
|---|---|---|
|||11,701
157,001|
|||168,702
28,807|
|||139,895|
||||
|||1,149,691
313,458|
|||836,233|
|||812,031
15,602|
|||827,633
8,600|
|||836,233|
The notes on pages 10-17 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 2023.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 oftheCompanies Act 2006 however, in accordancewith Section 145 oftheCharities 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:
- (a) ensuring that the charitable company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
- (b) preparing financial statements which give a true and fair view of the stateof affairs of thecharitable company as at the end of each financial year and of its net income or expenditure for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
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 7th September 2024 and were signed on its behalf by:
by: **Jonathan Tidd - Chair of Trustees** Jonathan Tidd Company Number: 04664030
Date
Charity Number: 1097443
Page 9
## **THE WELL, CHRISTIAN HEALING CENTRE**
## **Notes to the Accounts**
**for the year ended 31 December 2023**
## **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.
Page 10
## **THE WELL, CHRISTIAN HEALING CENTRE**
## **Notes to the Accounts**
## **for the year ended 31 December 2023**
## **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.
## **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 2023**
**31 Dec 2022**
£
£
£
£
84,983
145
85,128
74,511
31,409
55,400
86,809
78,811
30,008
-
30,008
25,280|
|---|---|---|
|||146,400
55,545
201,945
178,602|
Committed giving represents funds from donors who give by standing order on a monthly/quarterly/annual basis. Our supporters have largely maintained these donations. As a percentage of donation income, the gift aid recoverable on donations rose from 16.5% in 2022 to 17.5% in 2023, as some of the one off donations were of larger value and gift aidable.
Other donations have increased over 2022 figure due to the impact of the 12:72:500 fund raising campaign launched in November 2022, with donations still being received re the appeal during 2023. £55,400k was donated with the specific request that the funds were used to reduce the mortgage liability.
In accordance with SORP requirements, the value of donations given by Trustees and other related parties in the year was £8,621.11 (vs. £13,065 in 2022).
|**b) **|**Income from Charitable Activities**
Training courses
Speaking fees
Conference/Pathway teaching day income
Quiet days|**Unrestricted**
**Restricted**
**Total**
**Total**
**Funds**
**Funds**
**31 Dec 2023**
**31 Dec 2022**
£
£
£
£
279
-
279
1,968
5,565
-
5,565
1,458
254
-
254
1,462
1,085
-
1,085
0|
|---|---|---|
|||7,183
-
7,183
4,888|
During 2023, The Well delivered a variety of events on top of its regular weekly prayer appointments (144 sessions)
We held 4 online and 7 in-person Quiet Mornings/Days during the year charging £10 or £15 for each session. Steams, Breakfasts (Men's and Streams), Foundations and Pathways events were also held.
Speaking engagements - During the year, staff were invited to speak at various different online events and the income shown reflects the monies given voluntarily.
Page 11
## **THE WELL, CHRISTIAN HEALING CENTRE**
## **Notes to the Accounts**
||**Notes to the Accounts**|**Notes to the Accounts**|
|---|---|---|
|**3 **
**c) **|**for the year ended 31 December 2023**
**Unrestricted**
**Restricted**
**Total**
**Total**
**Funds**
**Funds**
**31 Dec 2023**
**31 Dec 2022**
**INCOME Continued**
**Income from other activities**
£
£
£
£
Sponsorship/Event income
2,864
-
2,864
21
Product sales
950
-
950
548
Donations towards events
342
-
342
801
4,156
-
4,156
1,370||
|||4,156
-
4,156
1,370|
## **Unrestricted funds**
Product sales - The charity does not receive donated goods. During the year, sales of notelets, other hand made cards, downloads, CDs raised £950.38.
## **Restricted funds**
There were no events to raise funds for the restricted funds this year.
|**d)**|Building Society and Bank interest
**Investment Income**|**Unrestricted**
**Restricted**
**Total**
**Total**
**Funds**
**Funds**
**31 Dec 2023**
**31 Dec 2022**
£
£
£
£|
|---|---|---|
|||448
-
448
42|
Interest received is apportioned to the various funds in relation to balances held. The interest received was higher than last year due to donations received following the 2022 Appeal, with surplus day to day funds being transferred to deposit account.
|**4 **
**a) **|**EXPENDITURE**
**Raising Funds**
"Just Giving" subscription costs
Stationery, printing and postage
Other fund raising costs
Professional fees - fund raising|**Unrestricted**
**Restricted**
**Total**
**Total**
**Funds**
**Funds**
**31 Dec 2023**
**31 Dec 2022**
£
£
£
£
216
-
216
216
0
-
0
4,625
0
-
0
1,175
0
-
0
68|
|---|---|---|
|||216
-
216
6,084|
We did not use any external professional fund-raiser in 2023. We will return to fund raising in 2024.
Page 12
## **THE WELL, CHRISTIAN HEALING CENTRE**
## **Notes to the Accounts**
## **for the year ended 31 December 2023**
## **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 minstry 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'. The Director of Ministry is a paid staff member who devotes most of their time to ministry and training activities, with the balance of their time being involved in overseeing staff, marketing, development and governance of the charity. During the year we had a number of changes in staffing.
The Well Director, PA to the Director of Ministry, Operations and Communications Coordinator and the Caretaker, were involved in providing organisational and administrative support for ministry, courses and events together with marketing, PR and fund raising. "Volunteer hours" are not valued but without them the charity would not be able to function.
|**Direct Charitable Costs**
**i)** **_Ministry and events_**
Training and Quiet Day Event costs
"Listening to God" Conference/Pathway event costs
Travel
Staff costs
Pension and other staff costs
Training resources
Small equipment & fittings
Refreshments|**Unrestricted**
**Restricted**
**Total**
**Total**
**Funds**
**Funds**
**31 Dec 2023**
**31 Dec 2022**
£
£
£
£
53,609
-
53,609
48,639
7,588
-
7,588
7,181
473
-
473
287
210
-
210
308
479
-
479
245
3,412
-
3,412
1,230
876
-
876
1,119
-
-
-
-|
|---|---|
||66,647
-
66,648
59,009|
|**ii)** **_Support and Administration_**
Professional fees - PR/Marketing
Subscriptions (inc PayPal account fees)
Furnishings
Governance costs - Independent Examination
IT support costs
Staff costs
Training
Governance costs
Sundry costs
Premises costs (utilities/room hire)
Stationary, printing and postage
Computer - printer/website/software
Mortgage interest
Finance charges (inc PayPal transaction charges)
Telephone
Professional fees - Accounting/other
Insurance
Depreciation
Travel|**Unrestricted**
**Restricted**
**Total**
**Total**
**Funds**
**Funds**
**31 Dec 2023**
**31 Dec 2022**
£
£
£
£
29,727
-
29,727
33,485
11,416
-
11,416
7,238
2,178
-
2,178
2,760
1,691
-
1,691
2,354
182
-
182
-
11,452
-
11,452
14,446
120
-
120
-
431
-
431
776
2,061
-
2,061
1,807
13,918
-
13,918
14,867
2,394
-
2,394
2,470
1,323
-
1,323
2,215
188
-
188
569
9,830
-
9,830
11,983
970
-
970
642
16,007
-
16,007
9,767
528
-
528
399
1,980
-
1,980
1,860
14
-
14
41|
|---|---|
||106,412
-
106,412
107,678|
## **c Grants**
The Well does not make grants to other organisations.
Page 13
## **THE WELL, CHRISTIAN HEALING CENTRE**
## **Notes to the Accounts**
## **for the year ended 31 December 2023**
## **5 Staff & Trustees**
The Well operates with a small paid staff team and many unpaid volunteers who support the ministry and events. The Well started 2023 with 1 full time employed staff - Director of Ministry and 3 part time employed staff. The Well finised 2023 with 2 full time employed staff and 3 part time staff.
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 (Well Director and Director of Ministry) amounted to £47,740.94 (2022: £57,442). Our new Well Director joined us in September 2023.
The Charity Commission have approved the payment of remuneration to Anne Hibbert (Director Of Ministry and Trustee). Her salary for the year is £37,210.44 and employer pension contribution £3,348.96 (2022 £35,438 & £3,189).
Other than the reimbursement of expenses incurred when acting as employee or agent, no expenses were reimbursed to any trustee.
|**6 Tangible Fixed Assets**
Cost
At 01/01/2023
Disposals
Additions
At 31/12/2023
Accumulated Depreciation
At 01/01/2023
Charge for the period / year
Disposals
At 31/12/2023
Net book value
At 31/12/2023|**Land**
**Buildings**
**Office Equipment**
**Furniture &**
**Total**
**Total**
**Fittings**
**31 Dec 2023**
**31 Dec 2022**
£
£
£
£
£
£
400,000
673,631
18,665
37,637
1,129,933
1,129,933
-
-
-
-
-
-
-
-
-
-
-
-|
|---|---|
||400,000
673,631
18,665
37,637
1,129,933
1,129,933|
||-
64,540
17,960
37,637
120,137
105,270
-
13,473
446
-
13,918
14,867
-
-
-
-
-
-|
||-
78,013
18,405
37,637
134,055
120,137|
|||
||400,000
595,618
260
-
995,878
1,009,796|
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
Prepayments
**8 Cash at Bank and in Hand**
Bank - current and deposit accounts
Petty cash
**9 Creditors: liabilities falling due within one year**
Income received in advance of event date
Interest free loan for mortgage
Accruals
Mortgage
PAYE/Payroll
Suppliers|**31 Dec 2023**
**31 Dec 2022**
£
£
2,210
10,135
1,450
1,566|
|---|---|
||3,660
11,701|
||**31 Dec 2023**
**31 Dec 2022**
£
£
64,487
156,893
49
108|
||64,535
157,001|
||**31 Dec 2023**
**31 Dec 2022**
£
£
3,176
4,648
69
554
6,333
6,333
2,181
3,003
5,068
13,726
1,378
543|
||18,205
28,807|
Page 14
## **THE WELL, CHRISTIAN HEALING CENTRE**
## **Notes to the Accounts**
## **for the year ended 31 December 2023**
|**for the year ended 31 December 2023**
**Notes to the Accounts**||
|---|---|
|**Creditors: liabilities falling due after more than one year**
Mortgage
Between 1 and 5 years
More than 5 years
Interest Free Loans
Between 1 and 5 years
More than 5 years|**31 Dec 2023**
**31 Dec 2022**
£
£
30,272
69,902
71,573
169,889
25,333
25,333
42,001
48,333|
||169,179
313,458|
## **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. Monthly payments of both capital and interest are being made in respect of both tranches. The mortgage is secured on the charity's property.
As part of the 12:72:500 campaign in November 2022 The Well received £80k of interest free loans to reduce the mortgage and interest liability in the face of sharply rising interest rates. In addition to the interest free loans, a further £55,400 was repaid off the mortgage (+ £4,600 Gift Aid) from donations received specifically for this purpose.
Mortgage value as at end of December 2023 was £106,913.
## **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)
(prior year comparative)
**Year to 31 December 2023**
**Year to 31 December 2022**|**Opening**
**Incoming**
**Outgoing**
**Movement**
**Transfers**
**Closing**
**balance**
**resources**
**resources**
**for period**
**in period**
**balance**
£
£
£
£
£
£
812,030
156,432
171,796
(15,364)
71,741
868,407
-
748
-
-
-
0
748
669
1,745
1,480
265
-
934
14,186
10
0
10
(14,196)
-|
|---|---|
||827,633
158,187
173,276
(15,090)
57,545
870,089|
||**Opening**
**Incoming**
**Outgoing**
**Movement**
**Transfers**
**Closing**
**balance**
**resources**
**resources**
**for year**
**in year**
**balance**
£
£
£
£
£
£
800,008
183,573
171,950
11,623
400
812,031
748
-
-
-
-
748
554
929
814
114
-
668
14,193
0
7
(7)
-
14,186|
||815,503
184,502
172,771
11,730
400
827,633|
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. 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.
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. The fund is transferred to General funds at a year end.
Page 15
## **THE WELL, CHRISTIAN HEALING CENTRE**
## **Notes to the Accounts**
## **for the year ended 31 December 2023**
## **Restricted Funds**
The restricted funds represent amounts received for specific purposes and the movements in the period are as follows:
|Anne Hibbert Fund
Mortgage Fund
New building Furnishings Fund
Anne Hibbert Fund
New building Furnishings Fund
**Year to 31 December 2022**
**Year to 31 December 2023**
(prior year comparative)|**Opening**
**Incoming**
**Outgoing**
**Movement**
**Transfers**
**Closing**
**balance**
**resources**
**resources**
**for period**
**in period**
**balance**
£
£
£
£
£
£
0
145
-
145
(145)
-
0
55,400
-
55,400
(55,400)
-
8,600
-
-
0
(2,000)
6,600|
|---|---|
||8,600
55,545
-
55,545
(57,545)
6,600|
||**Opening**
**Incoming**
**Outgoing**
**Movement**
**Transfers**
**Closing**
**balance**
**resources**
**resources**
**for year**
**in year**
**balance**
£
£
£
£
£
£
-
400
-
400
(400)
-
8,600
-
-
0
-
8,600|
||8,600
400
-
400
(400)
8,600|
The Anne Hibbert Fund was established originally for gifts and other income, specifically donated, to fund Anne's salary. Since 2006/07, the Trustees decided that The Well would accept full responsibility of covering Anne's salary and accordingly approved the transfer of General Funds to the restricted fund where a deficit existed. The fund has been closed during 2023, as the cost of Anne's salary is being met from general funds, the final monies (£145) were transferred to general funds to help cover the cost of her employment.
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). During 2023 one of the donors gave us permission to move £2k from their donation made to New Building Furnishing Fund to General Fund to use for decorations. We aim to spend the remainder of this fund during 2024 and close it.
In November 2022 The Well launched it's 12:72:500 Appeal. The Mortgage Fund was established in 2023 as appeal donations that were received totalling £55,400, were donated with the specifc request that the funds were to be used towards reducing the mortgage liability. Mortgage Funds totalling £55,400 were transfered to the General Fund to pay down the mortgage.
Page 16
## **THE WELL, CHRISTIAN HEALING CENTRE**
## **Notes to the Accounts**
## **for the year ended 31 December 2023**
**11** The assets and liabilities represented by the various funds are as follows:
|**Restricted funds**
Anne Hibbert Fund
Mortgage Fund
New building Furnishings Fund
**Unrestricted funds**
Listening to God Fund
Sabbatical Fund AH
Streams
General Fund
**Total Funds**
**Year to 31 December 2022**
**Restricted funds**
Anne Hibbert Fund
New Building Furnishings Fund
**Unrestricted funds**
Listening to God Fund
AH sabbatical fund
Streams
General Fund
**Total Funds**
**Year to 31 December 2023**|**Fixed**
**Bank & cash**
**Other net**
**Total**
**assets**
**balances**
**assets**
**31 Dec 2023**
**£**
**£**
**£**
**£**
-
-
-
-
-
-
-
-
-
6,600
-
6,600|
|---|---|
||-
6,600
-
6,600|
||-
-
-
-
-
748
-
748
-
948
(14)
934
995,878
56,238
(183,710)
868,406|
||995,878
57,934
(183,724)
870,088|
||995,878
64,534
(183,724)
876,688|
||**Fixed**
**Bank & cash**
**Other net**
**Total**
**assets**
**balances**
**assets**
**31 Dec 2022**
**£**
**£**
**£**
**£**
-
-
-
-
-
8,600
-
8,600|
||-
8,600
-
8,600|
||-
14,196
(10)
14,186
-
748
-
748
-
668
-
668
1,009,796
132,788
(330,553)
812,031|
||1,009,796
148,400
(330,563)
827,633|
||1,009,796
157,000
(330,563)
836,233|
## **12 Members**
Each member of the company commits to contribute an amount not more than £10 if the company is wound up.
Page 17