Rggistered number". 05031499 Charity number". 1103139 WELLSPRING SErrLEMENT (A COMPANY LIMITED BY GUARANTEE) TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 Bishop Fleming
WELLSPRING sErrLEMENT IA COMPANY LIMITED 8Y GUARANTEE) CONTENTS Page Reference and Administratlv8 Dètails of the Charlty, Its Trustees and Advisors Chalrman's Slatemgnt Trustees. Report 4-11 Indepèndent Audftor$' Report on the Financial Statements 12-15 Statement of Financlal Actlvltles 18 Balan¢• Sh•91 17 Statement of Cash Flows 18 Notes to the FSnan¢Tal Statements 19-34
WELLSPRING SELEMENT (A COMPANY LIMITED BY GUARANTEE) REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, rrs TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2022 Trustees Abdi-S8lam Askar (appointed 25 January 20221 Abdi Mohamed. Treasurer Abdilaahi Duale {Tesigned 28 September 20211 Abdullahi Farah Anne Joslin Gerry Monaghan Kerry Rowe, Vice Chair Mike Phipps Sarah Jahfar Sandra Kelly Thomas Meacock, Wice Chair Will Bee. Chair Abdihakin Asir (resigned 23 November 20211 Yvonne Deeney (resigned 23 November 20211 Company reglstered numbgr 05031499 Charity Yogislered number 1103139 Registered office 43 Ducie Road Barton Hill Bristol BS5 OAX Company secretary Joanna Holmes Key management personnel Joanna Holmes, CEO Anya Mulcahy-Bowman, Deputy CEO (appointed July 2021 } Afzal Shah, Deputy CEO lappoinled July 2021 } Paul Simpson, Deputy CEO Independent audltors Bishop Fteming LLP Chartered Accountants 10 Temple Back Brlstol BS16FL Bankers Lfoyds Bank PIC Regent Street Kingswo(xl Brist BS15 8HT Sollcltors Burges Salmon 1 Glass Wharf Bristol BS2 OLX
WELLSPRING SETTLEMENT (A COMPANY LIMITED BY GUARANTEEI CHAIR'S STATEMENT FOR THE YEAR ENDED 31 MARCH 2022 Th8 chair presents his stalement for the year. The 2020-21 annual report was dominated by the Covid pandemi¢ and its impact on Wellspring SettleTnent and this year il continued lo shape many aspects of our work. As the year passed lockdowns ended and the rollout of the vaGcine meant that Ilfe began to relum to something mrjre familiar, allhough il could certainly not be called normal. The lasting effects of Covid had a major impael on our serwces. The deterioration in many people's mental health meant sharply rising demand for our so¢i81 prescribing services. Fnjstralingly a significant proportion of referrals to this service were inappropriate as patients needed proper mental health treatment bLJt there simply wasn't the capacity lo meet demand. Pushing people onlo our services was not good for the patients involved and imposed an unnecessary stress on our staff 8$ they struggled lo cope wlth referrals whose needs they were not equipped to meet. Ori tho positive side il wa5 good to see an increase in funding for phyEical activity which means that we can help some of the many people whose acts'wty levels plummeted during lockdown. Our BOOST setvlce saw steadily climbing demand as financial support for the impact of Cowd was wilhdrawn, peaking after the end of the £20 a week uplift to Universal Credit in October. Unfortunately this coincided with reduction in the grant support for BOOST as we move(1 from one round of Brlstol Investment Funding lo second. As the report whlch follows shows all our services saw an increase in demand Iwllh the exception of room hire which we are reopening in a phased way) bul sadly this coincided with a tighter funding situation as both the statutory services and charitable Trusts cut back on the money they had released to respond lo the immediate impact of Covid. This leaves Wellspring Settlement, like many other community groups, caught in an awkward situation of rising demand and declinirig funding. During the year we continued to complete some of the inlegrallon work folk)wlng our merger whlch had lnet8bty been delayed as we Tesponded q(Jickly to the Covid pandemic. At the beginning of the year Elaine Flint left as Co-Director and Joanna Holmes was Confirmed as CEO, the Board also agreed lo her request lo reduce her hours as she turned her mind lo her own eventual departure. To strengthen the sènior leadership team. we recruited tsyo additional Deputy CEOS, Anya Mul¢ahy-Bowman and Afzal Shah. In addition lo these new posts a significant degree of rearrangement of the staffing 8lnJcture was negotiated to align the staffing teams and their work with the newly adopted strategy for Wellsprlng Settlement. All this required time and patience from staff while conllnuing to deliver high quality work and the Boaid is grateful to them. Like many organisations we also found it drtficull to reGruit staff and carried a number of vacant posts at limes during the year. Vvhile we worked hard lo maintain the standord of our services il delayed some of the additional work to Gomplete the merger and ensure that we had a consistent approach in evorything we did. Of courso, for much of the year staff spent part of the week working from home and il was notable how they 8ppre¢iated tre opportunlties lo get together and sharo knowledge and experience. The Board recognlses that much of the potential for joined up working created by the merger has yet lo be fulfilled and we look forward to maklng further progress In the coming year. We now know that this phase in the development of Wellspring Sewement will have a new leader as shortty after the end of the financial year Joanna Holmes gave notice to end her employment as our CEO. Joanna has done fantastic job over 20 years lo build up the Sgttlement., not just a vital community anchor for the Barton Hlll area. but an organisalion which is respected on a national and international basis. She has led the Settlement through some very tough limes bul leaves us in a very strong position. It will be a tremendous challeng8 to follow In her footsteps bul the Board are optimistic that we can find the dynamic and visionary leader we need to take Wellspring Settlem9nt foard. Indeed at the point of writing this report we have just appointed a very strong candldale lo fill the post. By the time of the next report Joanna will have moved on so it seems appropriate here lo thank her for the huge amount she has done for the Settlement. Sh& has been steadfast in her commitment to serving the local community, and creative in finding ways to gene¥ate income to support our work and maximise the usa of our buildings. As a leader she has been supporbve and empathetic while always being prepared lo lake the tough decisions when necessary. The Sèttlgmenl owes her an enormous debl of gratitude for all she has done over
WELLSPRING SETTLEMENT {A COMPANY LIIAITED BY GUARANTEEI CHAIR'S STATEMENT {CONTINUEDI FOR THE YEAR ENDED 31 MARCH 2022 the years. Will Bee Chair Date.. Page 3
WELLSPRING SETTLEMENT (A COMPANY LIMITED BY GUARANTEE) TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2022 The tsustees, who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2022. The Annual Report serves the purposes of both a Trustee's report and a director. report under company law. The Trustees confirm that the Annual Report and financial staloments of the tharitable company comply with the current Statutory requirements, the requirements of the charitsble CoMpanS governing document and the provisions of the Statement ol Recommended Practice ISORPI applicable lo charities preparing Ihelr accounts in accordance wth the Financial Reporting Standards applicable in the UK and Republic of Ireland IFRS1021 leff8ctive l January 20191. STRUCTURE. GOVERNANCE AND MANAGEMENT Governlng document The company's name is Wellspring Settlement with effect from the dale of transfer lo the charity of the charitable undertaking of Wellspring Healthy Living Centre {charitsble number 11345931 on 1st February 2020. Wellspring Settlement is a charitable company limited by guarantee. not having a share capllal. 11 was previously known as Barton Hill Settlement which fomed as a company on 2 February 2004. Recrullment and appointment of charlty directors The Directors of the Company are also the Charity Trustees. The Articles of Assoclation requiTe that Directors who have completed a three-year lem7 of appointment shall retire al the annLsal general meeting. They shall be eligible for reappoinlment subject lo a maximLsm of three terms of office. Any director who has completed three temis of appointment must slep down from the board for a period of 12 months before they can be reappoinlgd. Any director serving as a director on 18 December 2019 shall k taken to commence their first Ihree-year term . frL¥n that date. All Trustees of the Board give their time voluntarily and receive no benefits from the charity. The Charltys area of benefit is very diverse and therefore the Board of Trustees seek to ensure that the needs of the different communities are reflected through the diversity of the trustee body. The first board of Iruslees were all Wellsprlng Healthy Living Centre and Barton Hill Settlement Trustees who wshed to join the Board of the merged Wellspring Settlement and continued to act as Trustees through the first financial year and in this financial year the appropriate numbers of people stepped down and new.Tru51ees were appoint1. Trustee Inductlon and tralniDg An induction session to irbtroduce all trustees to the work of the merged organisalion was organised shortly after the completion of the merger. In this year three subgroups were sel up.. one lo woth on The Swan and asset development, the Ternple Quarter development and another lo look at Adult Social Care. All subgroups mel o several occasions and Submitted reports for the Board's decision. Wellspring Settlement will continue the practice of recruiling trustees who are local resldenls and are eurrenlly. or have been, seTvice users so that they already have a goo¢1 understandlng of some of the organlsation's work. New trustees will be given a pack of infomialion containing key Infomialion such as M&A's. charfty c¢)mmisslon FAQ'S, audited accounts, previous board meeting agendas 8nd minutes, and the tegal responsibilities of being a company director. Organlsatlonal structure Wellspring Settlement has a board with a maximum number of 15. One thlrd of the Current members of the Board steps down each AGM and their C81 term of office is termlnaled. They are eligible to stand for re- election for further 3-year terms. A further third of the current members of the Board stepped down at the AGM 2021 and their term of office was be temiinated. They were eligible lo stsnd for re-election for lurther 3-year lemis. If any member steps down part way through their 3-year tem of offlee the Board can appoint someone lo fill this vacancy f¢x the remainder of the term. Tnjstees meet monthly and ar8 responsible for the strategic direction and pollcy of the Charity and budget setting, including remuneration of staff. At presenL the board has 10 ftjll members plus the Chair and Treasurer. There are three sub-groups operating curn11Y. A scheme of delegation is in place and day lo day responsibility for the provision of the services rests with the CEO along with the Wellspring Settlement Management Team. The CEO is responsible for ensuring the charity delivers against contracts and implements the strategic plans. The management team are responsible for the operatlon, review and development of the charitys finaneial information SyEtems along with running the day-to-day finances,- fundraising. strategic development of the Paae 4
WELLSPRING SErrLEMENT (A COMPANY LIMITED BY GUARANTEEI TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022 serwces and the day-to-day management of Servi delivery., the day to day running of the Centre and management of the assets. Wlder networks Wellsprlng Settlement is a member of Locality. a national umbrella body. and locally is a member of Voscur and of the Care Forum. Key partnerships Wellspring Settlement works in many partnerships such as with Knowle Wesl Health Park and Southmead Development Trust. Together we form the Healthy Living Consortium. and we deliver major programmes in Partnership with them. We work in partnership with olhgr communlty anchor organi5ations ICAOS) lo be Locality leads for the NHS. in the Make il Local consortium exploring new ways of working within Adult Social Care and with CAOS and the University of Bristol on Many Neighbourhoods One City lo influence F)olicy makers. We work with Talking Money, and others lo run Boost Finance. Those are just a few examples of many long lemi as well as new partnerships. Merger process Wellspring Settlement formed on 1st February 2020 after a ljvo-year merger feasibility process beeen Barton Hill Settlement and Wellspring Healthy Living Cenlre. Ils launch became immediately consumed with preparing for the COVID-19 pandemic, delawng some of our integration and business planning. We have caught up on this during the year and now have a new website. comms strategy, many new policies and fully integrated reception and SFte teams. Successlon planning Elaine Flint. Co-Director, retired in March 21. This was planned and part of succession planning for the organisalion. Joanna Holmes became CEO on 3 days per week and two new Deputy CEO'S were appointed in July 21 to work alongside the existing Deputy, Paul Simpson. This was lo build immediate strategic links across the Ctty and capacity in the organisalion for the period beyond Covid whith we predicted would be tough for the communities we serve as well as for the demands placed on organisations such as Wellspring Settiernent. Difficulties fillSng some vacancies meant that this capacity was used lo cover the unfilled posts for som8 periods. COVID-19 pandemlc and beyond Wellspring Settlement became the emergency hub for the Lawrence Hill ward, acting as part of a co-ordinated response with Bristol City Council, Feeding Bristol and many other organisations. As recorded fully in last year's Trustees Report, a comprehensive range of new and existing services were operated face to face, by phone as well as eleclronicalFy- The impact of this was stronger relationships with local people, new contacts wtth people who are isolated, as well as new opportunltie$ for more strateglc contracts across the City. Since then, this work has developed into looking at new, more Inlegraled ways of worklng with the City Council and Health with Iwo contracts direcuy ¢oming from this and other$ in the pipeline inclLKling for welcome and wami spaces. Our room bookings were ?ro during lockdown and reslarted gradually, late in 2021. Our tenants remained stable during the covid perlod and are now all back working fiom site. The Micro Settlement was completed and the new tenants moved in during July 2021. We were delighled lo wel¢ome the University of Bris1018nd Bristol Refugee Rights as new lenanls. We have focussed on many ways for the staff team tcs gel lo know each other both for the first lime and renew fa¢e lo face working for others. We have started a new communications team for staff across the organi88tion so that we expand our communications with the local community as they slowly retum to pre covid daily routines and octivilies. The staff leam have all had communications training, have joined refiectlve learning sets and the 1$ a programme of ongoing leamlng prepared and starting in September 22. One of the impacts of the covid period was some staff deciding to leave and there was approximately a ona third staff ehLtrn. It has been sad to see people leave but also positive to wéleome new staff who bring new energy and ideas. Our staff team are now 38% BAME, part of a longer-term plan to ensure our staff team rellècts our diverse local communities. We were affected by the national issue of difficulty to recruit lo some posts but have resolved this laigely now. though some took much longer than normal and dolayed some deSivery e.g. CASS Manager vacancy. Page S
WELLSPRING SEfTLEMENT (A COMPANY LIMITED BY GUARANTEE) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022 The longer-temi impacts of covid are beginning to emerge with mental health issues featuring strongly for Ioc81 people. The major issue though remains the undertwng economic challenges which were so apparent durlng Covid and have been amplified further with the cost-of-living crisis. There have been many periods over the year when local residents have expressed anger at a scale not seen before by even long serving staff members who were born in this area. People feel their experience during covid, especially those in the overcrowded high-rise accommodation, was much worse than for others and that they are being mad8 to pay lor covld now the economic Consequences are being understood. This is in addition to the impact on people's INes of over 10 years of augterity cuts which have decimated public servicos and other support. Related Parties We have had no related party transactions during the financial year. Rlsk Management The B08rd of Trustees conducts at least bi annual reviews of the major risks lo whlch the charity is exposed. and this is logged in the Risk Management Register. Where appropriate, systems or procedures are established to mitigate the risks the cha¥ity faces. Significant external fisks to funding have led lo the development of fundraising and unrestricted income generation strategies which wll allow for the dlversificalion of funding and activities. Inlemal control risks are minirnised by the implementation of procedures for aulhorisalion of all transactions and projects. Procedures are in place lo ensure compliance with Health and Safety of staff. volunteers, clients and visitors lo the centres which include the creation of COVID-19 Safety Officers. These procedures are periodically reviewed lo ensure that they continue lo meet thg needs of the charity. OBJECTIVES AND ACTIVITIES Purposos and alms The obj-ects of the charty are. for the PL¥blic benefit, the relief of poverty. the promotion of good health and the advancement of education in the counties of Bristol, South Gloucestershire, Bath and North East Somerset and North Somerset ("Ihe Area of Benefifi. but with a particular focus on the reslden15 of Lawrence Hill and Easton and the surrounding neighbourhoods, whether alone or in partnership with local residents and slalulory, voluntary and other organisations in a commoll effort by-. adv8ndng awareness and education arouT the issues of good health {menlal and physical} and adopting and maintalnlng healthy lifestyles (which shall Include promoting and encouraging public partiapalion in healthy exercise and phyBical activity} and through the provision of support, education and practical advice reducing health inequalities, improving self-esteem aftd the health and wellbeing of the community so that conditions of life may be improved,. and providlng or assisting in the provision of faclliliès" in the Area of Benefit in the interest of social welfare for recreallon or other leisure lime occupatlon of individuals who have need ol such facilities by reason of their youth. age. infirmity or disability, financlal hardshlp of soeial circumstances with the object of improving their condllons of lrfe,. and maintaining and managing community assets in the Area of Benefit and Cowoperating wlh any partner organisalion in the maintenance and managemenl of such assets and lo develop further community assets for activities promoted by the charlty in furtherance of its objects. The Trustees of Wellsprlng Settlement have regard to the Charity Commission's guldan¢e on public ben8fi1 in the delivery of the charity's purpose and aims. Our actlvltles, how w¢ beneftt the publlc: Wellspring Settlement delivers a broad range of services under four hubs.. Locallty. Development, Community First and Families. We also act as landlord to 15 other oryanisations 8nd rent OLrt rooms for èducational and lelsure purposes. The Locallty Hub semce delivery includes our social prescribing project. CASS partnershlp proleel, Muscular Skeletal Service, arts. and physical aclivilies. W8 also combined this with community development during this riod. The impact of ¢ovid saw a signrficanl shift in emphasls for the roie of socl£l prescribing wthin primary care, and it was no OlffenI in the Inner Cty and Easl locality. Demand contlnued to be slgniflcanty higher than expected, Page 6
WELLSPRING SEThLEMENT IA COMPANY LIMITED BY GUARANTEE) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022 with mental heallh issues being particularly prevalent as seTrices and Ioc81 activities startèd to re-emerge post- covid. The Social Prescribing team worked exceptionally hard lo manage complex needs and the service was greatly enhanced by the appointment of 8 Social Prescribing Manager In November 2021, ensurlng structured support for the team and improved communication and collaboration wlth primary care partners. Over the financial year the Social Prescribing team received 1,705 referrals from the 12 pracltce5 across the three primary care nelworks, against a target of 1,367 referrals. Exceeding the largel by 25.1. demonslrales the level of demand for the Service l)olh for loGal residents and lor referrers. Ajongside this, the Physical Activities strand continued to play a signrficanl part in improving the mental and physleal health of people rèferred to social prescribing., our model for delivery was used as the basis for a collaboration with Wesport which secuied funding from Bristol City Council to continue for a further year, alongside Soulhmead Development Trust and Knowle West Health Park in their respective areas of the esty- The Arts strand worked closely with the Social Presuibing Team lo deliver accessible arts activities lo support people to build their social and cultural capital and collaborated wlth a local facilitator lo lomi a new approach to narrative therapy that used comedy as a tool for wellbeing. The CASS projecl was integrated into the Localty Hub In the second half of the year. A partnership between Wellspiing Settlemenl, Knowle Wesl Health Park and Soulhmead Development Trust, CASS played a key role in contrtbLtting to discussions and changes regarding the Community Mental health Framework and the Inlegraled Care Partnerships. As a key cor)tact beiween commissioners, services and communities. CASS ensured that communities. and particularty those that are marginalised, were central lo conveTS81ions around mentsl health transfomialion, with the ambition of making merital health services more appropriate and accessible. The first half of the year included a well-attendeé ¢ity-wide CASS neO{k event and the roll-out of the Wellbeing Pack project funded by the Libraries Innovation Fund.. we led on the development of a How to Talk About Suicide booklet which received attention beyond the region and has been shared Imth other organisalions as a template which can be adapted with information relevant to the lo¢al area. Progress in the second year was affected by a delay in fundlng being extended, which led to signifThnl changes in staffing,. initial attempts to reform the team were hampered by a challenging job market, although by Ihe end of the year wo were able lo appoint a new Community Engagement Worker. Nevertheless, during Ihls time key eommunications work continued. with the CASS rlewsletter being sel out to a growing mailing list, the CASS website and social media accounts being Gonslanuy updated and CASS marketing support strengthening the impact of the ongoing Black Men Talk Health workshops delivered by Nllaari and Relhink. Furthermore, the appointment of a new CASS Money and Mental Coordinator, funded by Bristol Clty Council. led to the development and rollout of workshops linking mental health with financial Issues and wellbeing which were well received across the city, alongside the publication of a new Money and Mental Health book. The exper1ere of working with the $tatutory health sy3tem was defined by a constant need lo evolve. The direction of travel has been positive with an increasing number of opportuniues for Wellspring Settlement, as one representative of the VCSE, lo engage with and help to dofine the nairative of health care in the ¢lty. in line with the overarchlng strategy for the health sector. Fundamentslty, there is a shared vision of advancing the Social model of heatth; in practice, however. ha$ proved more complex.. partly because of the refraffling of prioritigs due to the pandemic, bul also because of the differen in Scale in which the tsvo parties operate. The sense that th8 VCSE has to constanuy lustfy having seAt at the table does place a burden on the team and the organisalion. At a delivery level, for as slgnificant a$ the social prescrlbing programme has been for the organisation, it sb'll represents a small share of the work that wimary care undertakes and Can subsequently allocate time to. This has lod lo a misalignment In demand and expectations. with a financial and emotional burden placed on the organisation and ils staff,. a burden that is not necessarily reflectsve of intent wthin the health sector. but rather th8 level of need with communities and shortfal in funding and resourc8$ to address it. 2021122 has continued to see a vast amount of change as the Clinical Commissioning Group continued to position itself for the emergence of the new Integrated Care Partnerships for Bristol, North somerset and South Gloucestershire. Wellspring Sewement, as the VCSE Localty Lead for Inner City and East continued lo work lo understand ils representstional role in an opaque and difficult to managg SyEtem that was in a program of strain. transltlon and uncertain reform. Options presenting lo the Wellspring Settlement ranged from fully invgsting unfunded resource into the population health agenda at a local, O and regional 18vel to withdraw to fo¢us on a Page 7
WELLSPRING SETTLEMENT IA COMPANY LIMITED BY GUARANTEE) TRUSTEES. REPORT {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022 more localised strategy and work to dear Community informed priorities. Ultimately the decisiC lo broaden our representslion engagement in the system from across the organisation at local level enabled the Deputy CEO leading on Health lo contribute to a stror¢ger VCSE regional position, using our collective voice and Influen and powor to ensure genulne participation and meaningfrjl change was the consistent message and direction preferred. The VCSE Locality partnership has continued lo grow in its influence and is recounised al system level. The aim continues lo be championing for a joint strategic position with an understanding and mLtlual respect of how the VCSE sector works and the social value il contributes. Thls period was a Iransilional lime for the Economic Development Hub as it moved into the new structure of the organisalion, becoming Ihe Development Hub and as the Hub Man8ger moved into one of the three Deputy CEO roles 8t the end of July. From April to the end of September BOOST Flnance continued to deliver its final 6mlhs of its Brfstol Impacl Fund 1 provlsion. BOOST adapted its model to accommodate COVID safe guidelines. offerlng socially distsnced 1..1 and facililaled zoom appointments and telephone support. The serwce supported 159 people, from April to Sept. exceeding its targets considerably and the project continued lo reeruil to its volunteer proyram. 67Yo of those attending reported an increase in their knowledge lo be able to make more informed financtal decisions. In October BOOST began its 4yr Bristol Impact Fund 2 BOOST Community model. with a focus on community champions and working with role models. The projeel is also working alongside the University of Bristol to explore financial resilience within communities. The Food Club welcomed f(s new coordinator in post, and w8 established the Kitchen Equipment Library which has proved very popular with Food Club menbers, as well as events such as an Apple Day, Cooking Group, Winter Gathering and After School Cooking Club, where a Food Club member attended a Food Leaders Club facilitated in partnership wlh Square Fd, and the member was supported to deliver groups lo 5 local families. The service has continued to be actively involved in discussions focused on a Food Strategy for the area, and in the Bristol-wide Food Equality Strategy consullalion. Referrals and self•referrals have been constantly high throughout this period with 107 registered members. However. it is more noticeable that some longer-lemi members are having lo mak8 tough decision with regards lo coming every week (maybe every Iwo or three weeks or stop attending for a periodl as when under pressure, the challenge of unpredictable Ingredients I box Contents feels risky, particularly rf they have children or dietary needs. We can only address this lo a degree, by sharing recipes and requesting from Fareshare that h8[aVeyanAvegelarian options are available. so the boxes meet as many needs as possible. Supported by the West of England Works Project our communlty-led Routes to Communlty Influence lin partnership wlh the University of Bristol), report was presented in an event at the Engine Shed attended by Several employers. includirsg Burges Salmon, Digital marketing employer, Adult Social Care agency and retail represelltatives among others. The report was w811 received with employers interested in th8 self-exclusion element of the work that idenlifigd that a lot of people carry around the negative perceptions and narratives of the communlly and don't see the opportunities as applicable or relevant to them. There was also Inl&rest in how we can promote the skills of this area133 10 of those talked to were educated lo degree+ levell 15 lan9uages were fluently spoken in amongst the pool of 60 people). There was an emphasis on what could really be influenced on a hyper local level without bigger changes, minimurn wages. employee rights elG, but also the idgas of charsges startlng off small and a commitment lo changg. The report was published in Nov6mb¢r. WOEW has been continuing to grow referral pathways and WC in p8rtnership with DWP to support those fvrthesl from the workplace as it coped with people recovering from the various lockdowrbs and many of the referral partner oryanisations were not open tr) full ¢apacity running services. This also coirkckjed with Rostart stsrting and competltion saw a loss of huga numbers of potential dients lo mandated DWP programmes. In Oelober the project Teeruited 2 naw caseworkers and began running more outreach events In the community lo help advertise WOEW and wtder sèttlement s6Nieos. This led to an increase of referrals for Ihg OV9r 50's. women and refugees. The demand for training as a goal also increased. in particular for ESOL and IT as th8 project saw an incraased in the nUrnr of pooplo who did not speak English. Our Cornmunity Incluslon work was evaluated and a decision made to make some changes as il movod into our newty created Communlty Flrst Hub. We decided that we needed to respond to thg fears of local residents about Tremargillg post covid and fell this was more of an issue in this area than in most olhgr places in the City. This may be b¢¢aus8 of the terrible lime people had or because the area is very overcrowded, and people were Page 8
WELLSPRING SETTLEMENT {A COMPANY LIMITED BY GUARANTEE> TRUSTEES, REPORT {CONTINUEDI FOR THE YEAR ENDED 31 MARCH 2022 worried about the high level of contact with others. We decided lo create 4 new posts which focussed on community engagement. building relationships and conversations wilh people lo ensure good contact Wtth the organisation and each other and increased activities for people. We separated community development and made this a function which is part of the Cofe services team and Wofks with all stsff and the community building community led responses to issues the community faces. This has taken time but is fulty funcb'onal after the period of this report, including rwpening the café as a volunteer run community cafe. 11 was further delayed by the kJn*term illness of the manager. Thg Famlly Hub has delivered lo a full menu of family support during this period. Overall attendance was 331 males and 719 females who broadly reflected the local demographics for ethnicity wlh the majority being of BAME backgrounds, the largest single gfOUP being Somali, and 30% white Brtlish in most of the family services. Parenting programmes resumed on sile and seNces are now fully accessible no booking restrictions. Universal setvices have enabled parents lo take their first steps out of lockdown and share infomalion with other parents and staff about their lockdown experiences and the impact this has had on thole families and child development. Referrals to more specialist 5UPPOrt have been made to offer reassurance for families and impfoved child health and wellbeing outcomes. We continue to Work in partnership wlth health including on-site support working with health partners, Speech and language therapists, health visitors and ante natal grDUPS delivered by the WHLC midwives. We are extending our health partnerships by offering parents with children affected by Asthma monthly sessions on site wilh health partners, to improve acces$ and engagement working thIn a community model moving away from a clinical model to improve access and engagement for families. We have resumed supervised contsct visits for local parents of children in care which enables easy access for parents and children who are familiar wth the sottir@ and improves attachment for the whole family working towards children being returned to the family home. The Creative Connections project (moved under the famity hub management duTing this period) Is funded by ARHC lo undertake a pmgram of art activities as a research project to gather infomiation on experiences during lockdown. The project Is assessed in terms of achievlng its slated milestones and evaluating Impact. In lolal 30 parents were r8cnJited lo the project including. S Art researchers. of these 4 progressed lo co-facilitate the groups. A campaign presenting the partlclpants, experience was developed by the project team, Rising Art. and commissioned artist completed the campaign designs ready for October 22. A celebration event was held lo present the campaign to the participants. which was attended by 17 participants and 48 people 811 together. Slrenglhening Families Strengthening communftles delivered 4 parenllng programmes during this perlod. 36 parents have attended at least one sesslon of the proyramme. We have had 31 complelers. A new staff member that stsrted in June and recently trained {in July) to deliver upcoming SFSC programmes. 2 workshops were also delivered at The Vench Lockleaze in March and April with 8 total of 11 attendees. A new programme started this year called The Holiday Acliwty Fund and the delivery started in April 2022, just after the financial year and. The project has responded lo parents wanting more youth servic8s by successfvlly rocruiting two detached youth engagement work8r p051s, this work will be visible out in the community for 2 evening sossions per week in early October. This work will enable Wellspring Setuement to gather inlormation from our younger residents and give them 8 voice in the form of a steering group to inform the deveiopment of the Swan provision and wider youth offer. Other Projects We have ¢ontinued developirsg the Social Justice Project with the Univorsity of Brlstol which has widened to include communty anchors from across the City. We are also working wifh them on the Bristol Mod81 whith involves working wth students and researchers on our database as well as the Many Neighbourhoods, One City project to explore how infomialion held in communities can provide granular information which thg City needs lo Infomi it's policy development and planning. Page 9
WELLSPRING SEfTLEMENT (A COMPANY UMITED BY GUARANTEEI TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022 Work has continued in Ihe Make il Local programme to consider ways of us inlervenlng in Adult Soclal Care which improves the options for people who need adult social care as well as broadening community level early intervention and prevention schemes so that people remain independent with a good quality of Ille for a5 long as possible. We are considering establishing an Inlroduclory Agency lo match self-employed local residents wilh people who need care. We have submitted a planning application for The Swan public house and slarted enabling works to make il walertighl and stabilise the structure. We remain committed to using it for youth work in the evenings and weekends and community use during the day, with offices for community organisalions on the first floor. Original aspirations to convert the first floor to housing were thwarted by it being too expensive to ensure harmonious dual use. We have been working with partners looking at the Ternple Quarter development which is close lo our area lo see rf we can Create opportunities for people who live in Barton Hill and Lawrence Hill. The development is large and it is a huge challenge and opportunity. ACHIEVEMENT AND PERFORMANCE Some statistics about the take-up of our servlces We worked in deplh wth 3.519 people who attended services 57,380 limos during this perlod. Our r¢>Jms lo rent were not open for the fvll year but nevertheless 9,510 people used this service. The profile of the people who come to our sessions broadFy reflect the local demographic of 33Vo while Brltssh. 30Yo African. 120kn other BAME groups. There is some variab'on of this as our social prescribing team work across the inner city and east Bristol which does not have such a high BAME population. We worked wbth a slight majority of females and the largest number for age range was in the 2& 49 year old category. Some quotes from people who we worked alongslde: 'The training provided by CASS was a great way lo understand and help others deal with debt. It was very helpful to know the options available lo support those in debt. and to know what should be treated as a priority debt and non-priority debt. H was a great resource for looking at those in debt in an inclusnie way in which individual needs can be supported and provide understanding of how debt and mental health are linked.. .1 am wrlting this email to send a massive thank you lo xxx who Is your sodal prescriber. She has been amaang she helped me manage to get some help from the council due to the major problems and damp within my current home. I have been under a lot of stress and pressure and It made everything so much easier having someone to help and talk lo and gulde me in the nght directlon of help I dldn'l realise was available. She managed lo speak lo the council and kept infoming me of the progress. She listened to everything I had to say and nev8rjudged my silL*ation. She really is so g¢>od at her job. she's made myself arsd my little girf really happy in our new horne and I wouldn't of been able lo do this without her. She's so professional, kind and caring she is a credit to her organisalion." '[ feel connected in a way I haven't in a long time. °It makes me feel hopeful and that now is the time lo have a voice and be acknoedged" Hlghlights Ch5 hub, a very successful model of partnershlp working wrth health sermces fully accessible to our families in 8 community setting Page 10
WELLSPRING SETTLEMENT IA COMPANY LIMITED BY GUARANTEE TRUSTEES. REPORT ICONTINUEDI FOR THE Y&AR ENDED 31 MARCH 2022 Creation of a new website lo commufticate better with communities coming out of lockdown Partnership with the University of Bristol Starting work on redeveloping The Swan First Apple Day event which w88 well attended by focal residents Challènges Impact of cost of living anrÈ lack of respite post covid to re charge batteries for loGal residents and staff Recruitment of staff How to navigate the focus on communities by health and the local authority as answers lo the complex problems of public service near collapse FINANCIAL REVIEW The Statement of Financial Acliwties ISoFA}. set out on page 16 is designed to reflect all incoming resources receivable in the year. Gross income of £1.750.39012021." £1,989,505} decreased by £239.115. a decrease of 120/0. Charitable expenditure deereased by 3Yv lo £1,866,103 for the year 12021.. £1,924,)9l- Of the lolal outgoing resources. £1,231,309 relates lo restricted projects and £634.794 to unrestricted projects. General reserve8 now sland at £4,202,212 and the restricted fund balances amount lo £56,199 {see note 171. Investment poll¢y The organisation does not hold any investments other than cash on deposit. Reserves pollcy Wellspring Settlement recognises the importance of maintaining an approwiate levfjl of roserves lo allow for contingency planning or action. Wellspring Settlement will aim lo develop the level of reserves al three months operatlonal costs. Reserves will be reviewed al meetings of the Board meeting al least half yeady, or more frequently if required. Decisions regarding the use of raseNes wll be informed by the Board. Prlnclpal Fundlng Sour¢es We have a range of funding agreements wth: Weston College Brlstol Clinical Commissioning Group Slrona Bristol City Council John James Foundation John Armilage Ch8ril8ble Trust Social Investment Business St Monica's Trust and many others. Approved by order of the members of the ljoard of Trustees and signed on thelr behalf by: Wlll Bee Chair of Trustees Date.. P8ae11
WELLSPRING SETTLEMENT {A COMPANY LIMITED BY GUARANTEE) INDEPENDENT AUDITORS. REPORT TO THE TRUSTEES OF WELLSPRING SETTLEMEKr OPINION We have audited the financial statements of Wellspring Settlement Ilhe 'charityl for the year ended 31 March 2022 which comprise the Statement of Financi81 Activities, the Balance Sheet, the Statement of Cash Flows and the related notes. including a summary of significant accounting policles. The financial reporbng framework that has been applied in their preparation is applicable law and Unlted Kingdom Accounting Standards. including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland, {Uni18d Kingdom Generally Accepted AGcounling Practice)- In our opinion the financial slalements= give a true and fair view of the slate of the charitsble companvs affairs as a131 March 2022 and of its incoming resources and applicab'on of resources, ineluding ils income and expenditure for the year then ended; have been properly prepared in accordance with Untted Ktngdom Generally Accepted Accounting Practice,. and have been prepared in accordance th the requirements of the Companies Act 2006. BASIS FOR OPINION We conducted our audit in accordance with International Standards on Auditing IUKI IISAS IUKII and applicable law. Our responsibilities under those standards are further desCbed in the Auditors, responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that ar8 relevant to our audit of the financial statements in the United Kingdom. incltsding the Financial Reporting Council's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirem&nls. We believe that the audit evldence we have obtained is sufficient and appropriate to provide a basis for our opinion. CONCLUSIONS RELATING TO GOING CONCERN In auditing the financial stst8ments, we have Concluded that the Trustees, use of the going concam basis of accounting in the preparation of the financial stslemenls is appropriate. B8sed on the work we have performed, we have not identsfied any material unGertainlies relating to events or conditions that, individually or collecttvely, may east significant doubt on the Gharitable companvs ability lo conlinue as a going concern for a period of al least Iw8lve months from when the financk31 slalements are authori5ed for issue. Our re$ponsibilities and the responsibilities of the TTUStees with respect to going concern are described in the relevant sectnS of thls report. OTHER INFORMATION The other information comprises the informalion included in th8 Annual Report other than the financial ststements and our Auditors, Report thereon. The Trustees are responsible for the other information contained within the Annual Report. Our oplnion on the financial statements does not cover the other information and, except to the extent olherwtse explicilly ststed in our report. we do not express any fonn of assurance concluslon thereon. Our responsibilty Is lo read the other information and, in Iloing so, consKler whether the other Information is materialty inconslstenl with the financial ststements or our knO¥edge obtained in the course of the audlL or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material mlsstalemenls, we are required to determine whether this gives rise to a material mi5ststgment in the rinancial ststements themselves. If. based on the work we have performed, we conclude that there is a material mk%stalement of this other information. we are required lo report that fact. We have nothing lo report In thla regard. Page 12
WELLSPRING SETTLEMENT (A COMPANY LIMITED BY GUARANTEEI INDEPENDENT AUDtTORS' REPORT TO THE TRUSTEES OF VVELLSPRING SETTLEMENT ICONTINUEDI OPINION ON OTHER MATTERS PRESCRIBED BY THE COMPANIES ACT 2006 In our opinion, based on the work undertaken in the course of the audit.. the information given in the Trustees, Report including the Strategic Report for the finar181 year for which the financial slalemenls are prepared is consistent with th8 financial statements. the Trustees, Report and the Strategic Report have been prepared in accordance s*ith applicable legal requirgmenls. MATTERS ON WHICH WE ARE REQUIRED TO REPORT BY EXCEPTION In the light of our knoedge and understanding of the charitable company and its environment obtained in the course of the audll, we have not identified material misstslemenls in the Trustees, Report iricluding the Strategic Report. We have nothing to report in respect of the following matters in rglation to which Companies Act 2006 requires us lo report lo you rf, in our opinion.. adequate accounting records have not been kept. or returns adequale for our audit have not boen received from branches not visited by us., or the financial statements are not in agreement with the accounting CordS and reluins.. or ertain disclosures of Trustees, remuneration specified by law are not made., or we hava nol received all the informatlon and explanallon$ we qUIre for our audit. RESPONSIBILITIES OF TRUSTEES As explalned more fully in the Trustoes, ResponslbllSlles Statement. the Tiuslèes {who are also the directors ol the charitable company for the purposes of company lawl are responsible for the preparation of the finanThal statements and for being satisfied that they give a true and fair view, and for such intemal control as the Trustees determine Is necessary lo enab18 the preparation of financial statements that a free from material misslatemenl, whether due Its fraud or error. In proparing the financlal ststemenl$. the Trustees are responsible for assessing the charitsble companls abilty lo continue as a going concem. disclosing. as applicable, matters related lo going concem and using the going concern basis of accounting unless Ihe Trustees either intend lo liquidate the charitable company or to cease operations, or have no realisti¢ allemalive bul to do so. Page 13
WELLSPRING SETTLEMENT (A COMPANY LIMITED BY GUARANTEE) INDEPENDENT AUDITORS. REPORT TO THE TRUSTEES OF WELLSPRING sEfTLEMENT ICONTINUEDI AUDITORS, RESPONSIBILITIES FOR THE AUDrr OF THE FINANCIAL STATEMENTS Our objectives are lo obtain reasonable assurance about whether the financial slalemènls as a whole are free from material misstalemenl, whether due lo fraud or error. and lo Issue afi Auditors, Report that includes our opinion. Reasonable assurance is a high level of assurance, bul Is not a guarantee that an audit conducted in accordance with ISAS IUKI will always delecl a material misstslemenl when it exists. Misslalemenls can arise from fraud or error and are considered Mateal If, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial slalemenls. Irregulariti85. including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, oulllned above, lo dètect material misstatements in respect of irregularities. including fraud. The extent to which our PToGedure$ are capable of deleclirig irregularities. including fraud 18 detailed below.. We have considered the nature of the sector, control env¢ronmenl and flnanclal perfomiance of the entity., We have considered the results of enquiries with management and Trustees in relation to their own identification and assessment of the risk of irregularities within the entity.. and We have ieviewed the documentation of key processes and controls and performed walkihroughs of Iransactions lo confirm that the systems are operabng in line with documentation. As a result of these procedures. we have considered the opportunities and incentives that may exist wthin the organisation for fraud and idenlrfied the highest area of risk to be in relation lo revenue recognition, with a particular risk in relation lo year-end cut off. In comrnon with all audits under ISAS IUKI we are also required lo perform specific procedures lo respond lo the risk of manggement override. We have also obtained understanding of the legal and regulatory frameworks that the charity operates in, focusing on provisions of those laws and regulations that had a direct effect on the delerminalion of material amounts and disclosures in the financial stalemenls. The key laws and regulations we consKlered in this context Included the UK Companies Act and FRS 102 and UK tax legislation. In addition, we considered the provisions of other laws and regulations that do not have a direct effect on the financial statements but compliance with which may be fundamental to the charitys ability lo operate or avoid a material penalty. Our procedures to respond to rf5ks identified included the following.. Reviewing the financial statement disclosures and testing lo supporting docurnentatirjn to a55ess compliance with provisions of relevant laws and regulations described as having a direct effect on the financial statements-, Performing analybcal procedures to Klentify unusual or unexpected relationships that may indicate rtsks of material misststement due to fraud-, Reviewing board meeting minutes.. Enquiring of management in relation to actual and potential clalms or litigations., Performing detailed transactional lesling in relation to the recognition of revenue with a partlcular focus around year-end cut off; and In addressing the Tisk of fraud through management override of controls, lesling the appropriateness of Joumal entrles and other adjustments-, assessing whether the judgments made in accountiro estimates are indicative of potential bias,. and evaluating the business rationale of significant transactions Ihal are unusual or outside the normal course of business. We also communicated identifled laws and regulations and potential fraud rlsks lo all members of the engagement team and remained alert to possible indicators of fraud or non-compliance with laws and regulations throughout the audit. Our audit procedures were designed to respond to risks of malerfal mlsslalement in the financial stal8menls, recognising that the risk of not detecting a material misststemenl due to fraud is higher than the risk of not dete¢tlng one resulting from an èrror, as fraud may involve deliberate concealment by, for example, forgery, Page 14
WELLSPRING sLEMENT (A COMPANY LIMITED BY GUARANTEE) INDEPENDENT AUDITORS. REPORT TO THE TRUSTEES OF WELLSPRING SELEMENT {CONTINUEDI misrepresentstions or through collusion. There are inherent limitations in the audit procedures perfomied and the fvrther removed non-compliance with laws and regulations is from the events and Iransac*ions reflected in the financial statements, the less likely we woutd become aware of it. A further description of our responsibilities for the audit of the financial ststements is located on the Financial Reporting Council's website al.. www.frc.o .ukJauditorsres nsibililies. This description fomis part ol our Auditors, Report. USE OF OUR REPORT This report Is made solely to the charitable companls members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might slate lo the charitable comp8nls members those matters we are required lo slate to them in an Auditors, Report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility lo anyone other than the charitable company and ils members, as a body, for OLtr audit work. for this report. or lor the oplnions we have formed. /F4 David Butler FCA DChA {SgnioT Statutory Audltorl for and on behaw of Blshop Fleming LLP Chartered Accountants Statutory Auditors 10 Temple Back Bristol BS16FL Date: 21 December 2022 Page 15
WELLSPRING SETTLEMENT {A COMPANY LIMITED BY GUARANTEE} STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2022 Restricted Unrgstrictad funds funds 2022 2022 Total funds 2022 Total funds 2021 Note Income from: Donations 2nd legacies Charitsble actimties Investments 136 1.044.505 136 1.750,254 5,895 1.981,963 1.647 705,749 Total income 705,749 1,044,641 1,750,390 1,989,505 Expgndlture on: Charitable activities 1,231,309 634.794 1,866.103 1,924,909 Total expenditurfj 1,231,309 634,794 1,866,103 1,924,909 Net {expendlturellln¢ome Transfers between funds {525.5601 {2,903.7361 409.847 2.903.736 {115,7131 64,596 17 Net movement In funds (3.429.296) 3,313,583 (115.7131 64,596 Reconclliation of funds: Total funds brought forward 3.485.495 888.629 4.374.124 4.309,528 Total funds carried forward 56,199 4,202,212 4,258,411 4,374,124 The Statement of Financial Activlties includes all gains and losses recognised in the year. The notes on pages 19 to 34 form part of these financial statements. Page 16
WELLSPRING SETTLEMENT (A COMPANY LIMITED BY GUARANTEEI REGISTERED NUMBER:05031499 BALANCE SHEET AS AT 31 MARCH 2022 2022 2021 Note Flxed assets Tangible asse15 12 5,915,299 6,051,989 5,915,299 6.051,989 Current assets Debtors Cash at bank and in hand 13 219.761 119,212 223,450 233,177 338,973 456,627 Creditors- amounts falling due WFthin one year 14 (748,820) 1621,067} Not current Ilabllltles (409.8471 (164.4401 Total assets less current liabilities 5,505.452 5,887,549 Creditors- amounts falling due after more than one year Provtsions for liabililios 15 (1,228.384) (18,657) 11,486.1791 127,2461 Total net a$sets 4.258.411 4,374,124 Charltyfunds Restricted funds 17 56,199 4,202.212 3.485,495 888.629 Unre51ricted funds 17 Total funds 4,258N11 4,374,124 The Trustees acknowledge their responsibilities for complylng wlth the requirements of the Act with respect to accounting records and weparation of financial statements. The financial statements ware approved and aulhorised for issue by the Trustees and signed on th@ir behalf by.. Wlll Bee Chair Dale- The notes on pages 19 to 34 fom part of these financial statements. Pagg 17
WELLSPRING SETTLEMENT IA COMPANY LIMITED BY GUARANTEE) STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2022 2022 2021 Cash flows from opératlng actlvltles Net cash used in opefaling activities 44.156 201,749 Cash flows from Investlng aGtivitie$ Dividends. interests and rents from investments Purchase of tsngible fixed assets 1.647 (59.3731 ($04,153) Net ¢a$h usgd In Investlng aGtrvltlg¥ (59,3731 1502.506) Cash flows from financing actlvltles RepayTnenls of tx)rrowing New ljorrowing 198,7481 122,1781 250,000 Net cash (used Inllprovided by financlng actlvrties 198,7481 227.B22 Change in cash and cash ?quivalents In the year Cash and cash equivalents at the beglnnlng of the year (113,9651 233.177 {72.9351 306,112 Cash and ¢ash equlvalents at the end of the year 119,212 233.177 The notes on pages 19 to 34 form part of these financial ststements Page 18
WELLSPRING SErrLEMENT IA COMPANY LIMITED BY GUARANTEEI NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 GENERAL INFORMATION The company, fomied on 2 Febnjary 2004, 15 limited by guarantee (No. 50341991 arKI is a registered charity (No. 1103139}. The charity is registered in England and Wales. The charivs registered office is 43 Ducie Road. Barton Hill. Bristol. BS5 OAX. ACCOUNTING POLICIES 2.1 BASIS OF PREPARATION OF FINANCIAL STATEMENTS The financial slalemenls have been prepared in accordance with the Charllies SORP (FRS 102) Accounting and Reporting by Charities.. Slalemenl of Recommended Practice 8ppIKable lo charities preparing their acco¢Jnls in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 leffective 1 January 20191, the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 1021 and the Companies Act 2006. Wellspring Settlement meets the definition of a public benefit entity under FRS 102. Assèls and liabilities are initially recognised al historical cost or transaction value unless otherwise stated in the relevant accounting policy. 2.2 GOING CONCERN The accounts have been prepared on the assumption that the charity is able tr) conlinue as a going concern. which the Trustees consider appropriate havlng regard lo the current level of unrestricted reserves. The Trustees have consideied the consequences of COVID-19 and have determined that they do not create a material uncertainty that casts significant doubt upon the charities ability lo continue as a going concem. The actual and projected Covid 5UPPOrt lllcome from Trusts. Government and to1 authorities heavily mitigate any projected losses incurred by the Charity. As a result there are no material uncertainties about the charitys ability to conlinLte as a goirwj concem. 2.3 INCOME All income is recognised once the Charity has entillemenl lo the income, it is probable that the income will be received and the amount of income receivable can be measured reliably. Grants are included in the Slalement of Financial A¢tivilie$ on a receivable basis. The balance of In¢ome recelved for specrfic purposes bul not expended during the period is shown in the relevant funds on the Balance Sheet. Where income Is recelved In advance of entitlement of receipt. its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued. Other income 1$ recognised in the period in which it is receivable and to the extent the goods have been provlded or on completion of the service. Paae 19
WELLSPRING SETTLEMENT (A COMPANY LIMITED BY GUARANTEEI NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 ACCOUNTING POLICIES l¢ontlnu•dl 2.4 EXPENDITURE Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third paty, it is probable that a transfer of eeonomic benefits will be requlred in settlement and the amount of the obligation can be measured reliably. Expendilure is classified by aclivity. The cos15 of each activity are made up of the lolal of direct Costs and shared costs. induding support costs involved in undertaking each activity. Direct costs attributable lo a single activity are allocated directly lo that activity. Shared costs which contribute lo more than one aciivity and support costs which are not attributable to a single 6rtivity are apportioned beeen those aclivltles on a basis consislenl w¢lh the use of resources. Central stsff costs are 811ocaled on the basis of Ilme spent, and depreciation charges allocated on the portion of the asset's use. Expenditure on charitable activities is incurred on directly undertaking the aclivlties whiGh fvrther the Charity's objectives, as well as any associated support Costs. All expenditure is inclusive of irrecoverable VAT. 2.5 TANGIBLE FIXED ASSETS AND DEPRECIATION Tangible red assets costing £1.000 or more are capilalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured roliably. Tangible fixed assets are initially recognised al cost. After recognition, under the cost mod81, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tsngiblo red asset into ils intended working condition should be Included in the measurement of cost. Assets in the course of construction are included at Costs incurred to date. Depreciation on these assets 1$ not charged until they are brought into use. Depreciation is charged so as to allocate the cost of tsngible fixed assets less their residual value over Iheir estimated useful Ilves. using the straight-line method. Depreciation is provided on the followng basis: Freehold propety Flxtures and filingg Motor vehicles Microsettlements Computer equipment Other fLxed assets 2% Stralght Line Method 100/0 Slralght Line Melh(x 20Vo Slraighl Line Meth(xl 4DA Straight Line Method 33Vo Straight Line Method 10QA Straight Line Method 2.6 DEBTORS Trade and other debtors are recognised al the settlement amount after any trade diseount offgred. Prepayments 8re valued al the amount prepaid net of any trade discounts due. 2.7 CASH AT BANK AND IN HAND Cash at bank and in hand indudes cash ènd short-lerm highly liquid investments with a short maturity of three months or less from the dale of acquisition or opening of the deposit or similar account. PAnp. ?n
WELLSPRING sErrLEMENT (A COMPANY LIMITED BY GUARANTEEI NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 ACCOUNTING POLICIES {continugd} 2.8 LIABILITIES Liabilities and provisions are recognised when there is an obligation at the Balance Sheet dale as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement. and the amourit of the setuemenl Can be estimated reliably. Liabilities are Tecognised at Ihe amount that th8 Charity anticipates il wll pay lo settle the debt or the amount it has received as advanced payrnents for the goods or services it must proVe. 2.9 OPERATING LEASES Rentals paid Ltnder operatin9 leases are charged to the Statement of Financlal Acltvities on a straight line basis over the lease term. 2.10 PENSIONS The Charity operates a defined Contribution pension scheme and the penslon charge represen15 the amounts payable by the Charity to the fund in respect of the aT. 2.11 FUND ACCOUNTING GenÈral funds are unrestricted funds which are available for use at the discrelion ol the Trustees in furtherance of the general objectives of the Charity and which have not been designated for olhei wrposes. Restrlcled funds are funds whith are to be used in accordance specific restridions imposed by donors or which have been raised by the Charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes lo the financial statements. Invesknent income, gains and losses are allocated to the appropriate fund. CRITICAL ACCOUNTING ESTIMATES AND AREAS OF JUDGEMENT The pr8pafation of the financial statements require management to make judgments, estimates and assumptions that affect the amounts reported. These estlmales and judgements are continually ev?lualed and are based on hlstodcal experience and other f8Ctorg. Induding expectations of future events that are believed to be reasonable under the circumstances. Crflical accounting estimates and assumptions.. The Charity makes estimates and assumptions concerning the future. The resultlng a¢cxJunting estim8tes 2nd assumptions wll. by definition, seldom equal the related actual results. The eslimales arKI assumptions that have a significant risk of caLtsing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are discussed below. Paao 21
WELLSPRING SETTLEklENT {A COMPANY LIMITED BY GUARANTEEI NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 INCOME FROM DONATIONS AND LEGACIES Unrestrlctod funds 2022 Total funds 2022 Total funds 2021 Donations 136 136 5,895 INCOME FROM CHARITABLE ACTIVITIES Restrlcted Unrestrfcted funds funds 2022 2022 Total funds 2022 Totsl funds 2021 Grants and contraGts seiCe charges Room hire Rent81 income Other earned income Consultancy 705,749 463,832 106,145 32,415 394.116 45,968 2,029 1,169,581 106,145 32.415 394.116 45.968 2,029 1,182,424 119.832 2.696 372.107 293,389 11,515 705,749 1,044,505 1,750,254 1,981.963 TOTAL 2021 1.014.616 967,347 1,981,963 INVESTMENT INCOME Unrestrlcted funds 2022 Total funds 2022 Total funds 2021 Investment incomo 1,647 PAnK& ??
WELLSPRING 8ETTLEMENT {A COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 ANALYSIS OF EXPENDITURE ON CHARrrA8LE ACTMTIES Surnmary by fund type Restrlcted Unrostricted funds funds 2022 2022 Totsl 2022 Total 2021 Charitable activities 1,231.309 634,794 1.866.103 1,924,909 TOTAL 2021 1,052.157 872,752 1,924,909 ANALYSIS OF EXPENDITURE BY ACTIVITIES Activities uridertaken directly 2022 Support costs Total funds 2022 Total fvnds 2021 2022 Charftable aelimties 1,118.939 747.164 1,866,103 1,924,909 TOTAL 2021 1,251,370 673,539 1,924,909 ANALYSIS OF DIRECT COSTS Totsl funds 2022 Total funds 2021 staff costs Catering & provision costs SLA provision Exlemal contract costs 1,052,831 2,657 59.290 4.161 1,173,537 3,285 70.864 1,118,939 1,251,370 Page 23
WELLSPRING SETTLEMENT IA COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 ANALYSIS OF EXPENDITURE BY ACTIVITIES (CONTINUED) ANALYSIS OF SUPPORT COSTS Total funds 2022 Total funds 2021 Depreciation Other staff costs Premises costs Compltler and office supplies Govern8nee and professional costs Marketing and subscrrplions Insurance Bank and interest charges FOCUS Extemal partners Vehicle costs Bgd debts 196,063 7.108 212,814 86,473 56,189 392 24,457 56,613 12,452 83,889 1,854 8.860 166,421 9,189 156,842 130,321 42,258 1.595 21.418 43,819 6,801 90,249 1,115 3,511 747.164 673.S39 AUDITORS, REMUNERATION 2022 2021 Fees payable lo the Chariws auditor for the audit of the Charlvs annual aGGounts 10,275 9,850 10. STAFF COSTS 2022 2021 Wages and salaries Social security costs Contribution to deflned eontribulion pension schemes 940,681 68,835 43,415 1,048,294 76,607 48.636 1.052,831 1.173.537 Paqe 24
WELLSPRING SETTLEMENT (A COMPANY LIMITED BY GUARANTEEI NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 10. STAFF COSTS (CONTINUED) The average number of persons employed by the Charity during the year was as follows- 2022 No. 2021 Staff 74 63 No employee received remuneration amounllng to more than £60,000 in etther year. The key management personnel of the charity comprise Ihe Deputy Director and both CoryDireclors. The total employee benefits of the key management personnel, comprising gross salary, eM0yers, national insurance and employers, pension contributions was £179,90212021: £174,669). 11. TRUSTEES. REMUNERATION AND EXPENSES Duiing the year. no Trustees recelved any remuneration or other benefils12021- £NILI. During the year ended 31 March 2022, no Trustee expenses have been incurred12021- £NILI. Paa$ 25
WELLSPRING SEfTLEMENT IA COMPANY UMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 12. TANGIBLE FIXED ASSETS Flxtures, flttlngs & equlpment Frgehold Mlcro- property settlements Motor vehlcles Total COST OR VALUATION At 1 April 2021 Additions 6.978.859 47,162 719,911 3.809 13200 307,991 8,402 8.019,961 59,373 At 31 March 2022 7,026,021 723.720 13,200 316.393 8.079,334 DEPRECIATION At 1 April 2021 Charge for Ihe year 1,704,399 141,213 14,083 28,949 13,200 236,290 25,901 1,967,972 196.063 Al 31 March 2022 1.845.612 43,032 13.200 262,191 2,164,035 NET BOOK VALUE At 31 Mafch 2022 5,180.409 680,688 54,202 5,915,299 At 31 March 2021 5,274,460 705.828 71,701 6,051,989 13. DEBTORS 2022 2021 DUE WITHIN ONE YEAR Trade debtors Other debtors PrepayTnents arml accrued income 173.233 7.585 38,943 165.231 58,219 219,761 223.450 Paoe 26
WELLSPRING SETTLEMENT {A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 14. CREDITORS: AMOVNTS FALLING DUEV1HIN ONE YEAR 2022 2021 Bank loans Trade creditors Other taxation and social security other creditrjrs Accruals and deferrwj in¢ome 253.682 90,324 44,114 63.852 296.B48 94,635 121,541 78,072 4S,741 281,078 748,820 621,067 2022 2021 Deferred income al 1 April 2021 Resources deferred during the year Amounts released from previous periods 256.249 295,648 (256,2491 32.913 256,249 132,9131 295,648 256.249 15. CREDITORS.. AMOUNTS FALLING DUE AFfER MORE THAN ONE YEAR 2022 2021 Bank loans Olher loans 222.289 1.006.095 356.822 1,129,357 1,228,384 1,486,179 Included wlthin the above are amounts falling due as follows: 2022 2021 BETWEEN ONE AND TWO YEARS Bank loans Other loans 38.381 61,320 134.532 50,339 BETWEEN TWO AND FIVE YEARS Bank loans Other loans 183.908 205.354 120.567 65,762 OVER FIVE YEARS Bank loans other108ns 101.723 1,013,256 739,421 Paae 27
WELLSPRING SETTLEMENT (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDEO 31 MARCH 2022 The original loan wtth Lloyds bears interest al a rate of 6.95Yo and was taken out in November 2009. The charity took a second loan with Lloyds with an interest rate of 7.205%, repayable over 10 years, in March 2011. The loans are secured by a legal charge over 22 - 28 Bright Street and 3 - 9 Modey Road. The Farmhouse Building rebuild was part funded by a loan from Futurebuilders England, repayable over 21 years, commencing on 1 March 2021. Interest was charged at 0.50 until November 2019, then al 5¥0 for three years and is subject lo an annual review. This loan is secured by a legal charge on the Famhous8 building. During the year ended 2017 the bank overdraft was Convert to a third loan with Lloyds, repayable over 10 years with interest payable al bank rate plus 3.85Yo. The purchase of the Swan was funded by a loan with a charge over the property, repayable over 8 years wlh a fixed interest rate ol 4.50/0. 16. PROVISIONS 2020 Al 1 April 2021 Amounts used 27,246 (8.5891 18.657 A provision is recognised for the future rnainl&nance of the freehold property al 8earn Slreel. Paoe 28
WELLSPRING SETTLEMENT (A COMPANY LIMITED BY GUARANTEEI NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 17. STATEMENT OF FUNDS STATEMENT OF FUNDS- CURRENT YEAR Balance at 31 March 2022 Balance at 1 April 2021 Transfers inlout Income Expendlture UNRESTRICTED FUNDS General funds 888,629 1,044,641 {634,794} 2,903,736 4,202,212 RESTRICTED FUNDS Freehold WHLC SPEAR grants COVID Income CAF Resilliance Fund BCC grants CASS other restricted fvnds The Network Sl Pauls Nursery Farmhouse development John James Foundation- community fridge Microsettlement University of Bristol Fellowship Grant BOOST Wesl of England Work$ SPAN 2.090.223 6,500 (52,5491 {2,037.6741 141.9461 110,9631 16,6981 (1.4761 (208.518) {96.5871 {70.7991 {80.0001 {36,713) (522,1511 35.446 10,963 6,698 6.144 43.888 ,52.497 12,590 4,668 164,630 95,621 58.209 80.000 51,531 558,864 2.582 703.509 {2,582) (359,5981 1343,9111 2,000 30,736 40,449 125.876 63.819 {32,7361 {40.4491 (125,876) (63,819) 3,485,495 705,749 (1,231.309} 12.903.736) 56,199 TOTAL OF FUNDS 4,374,124 1,7SO,390 11,866.1031 4,258,411 Page 29
WELLSPRING SErrLEMENT IA COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 17. STATEMENT OF FUNDS {CONTINUED} Restricted Funds Freehold WHLC this balance reffects. the transfer of buildings to the newly fom)ed Wellspring Settlement, transferred from Wellspring Healthy Living Cenlre, following the merger on 1 FebnJ8ry 2020. Spear, Bristol Ageing Better, BCC Gr8nls, Cass, The Nelwork and John James Foundation - Restricted income unspent balances will be spent in 2021- 22. Al funds are used to provide gervices across all our Imp8cI areas. Farnihouse development - balance reflecls the amount funded by Fulurebuilders England and NHS 8LFilding Fund, less non-capital spending on the project to redevelop the Farmhouse and includes tenant specific requirements for the farmhouse development. George Wills Hall - the charity received funds from Bristol City Councils CIL fund. these funds will be used for a new roof and the addlllon of accessible facilities at the venue. Microsettl8menl- these funds were used in the conslrucuon of the new building project as outlined in the Report from the TrLtstees. Strong Families- this fund includes both the Family Centre Project from previous years together with SPAN project. The Family Centre received funding form Sl Pauls Children's centre and Children in Need whilst SPAN'S grants include Impact Funding from Bristol City CoL*ncil together with funding lo deliver Strengthening Families Strengthening Communllies courses. Economic Resilience - encompasses BOOST Financ$ and We51 of England Works projects, funding Ss aimed at improving local people's economic prospects. Transfers beiween funds During fhe year the Trustees reviewed the fvnding reslriciions that had attached to the property acquisitions. The Trustees consider that all restrictions have been fulfilled and consequenly these amounts have been transferred to unrestricted funds in the Current year. Page 30
WELLSPRING SErrLEMENT IA COMPANY LIMITED BY GUARANTEEI NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 18. ANALYSIS OF NEf ASSETS BETWEEN FUNDS ANALYSIS OF NET ASSETS BETWEEN FUNDS - CURRENT YEAR Restricted Unrostrlct•d funds funds 2022 2022 Total funds 2022 Tangible fixed assets Current assets Creditors due within one year Creditors due in more than one year Provisions for liabilities and charges 5,915,299 5.915.299 282,774 33B.973 1748,820} (748.820) 11,228,3841 (1,228.384) 118,6571 {18.657} 56,199 TOTAL 56.199 4,202,212 4,258,411 ANALYSIS OF NET ASSETS BETWEEN FUNDS - PRIOR YEAR Restricted Unrestricted funds funds 2021 2021 Total funds 2021 Tangible fixed assets Cutrenl assets Creditors due within one year Creditors due in more than one year Provisions for liabilities and charges 3,352,596 2,699.393 6,051,989 333,381 123,246 456.627 {200,482} 1420.585) {621,0671 {1.486,179} 11.486,1791 127,2461 127,246) TOTAL 3,485,495 888,629 4,374,124 Page 32
WELLSPRING SErrLEMENT IA COMPANY UMITED BY GUARANTEEI NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 17. STATEMENT OF FUNDS (CONTINUED) STATEMENT OF FUNDS - PRIOR YEAR Balance al 31 March 2021 Balance at 1 April 2020 Transfers inlout Income Expenditure UNRESTRICTED FUNDS General funds 997,248 974,889 {872.7521 1210,7561 888,629 RESTRICTED FUNDS Freehold WHLC SPEAR grants COVIO Income CAF Resilliance Fund BCC grants CASS 2,142,772 6,500 4.839 152,549} {71,399} 14.8391 142.9811 188.8301 1173.6051 (101,4251 190,0521 135,513} 2.090,223 6.500 71,399 49,679 86,332 173,605 107,584 90.052 6,698 6,144 43,888 52,497 12.590 558,864 8.642 43,888 46,338 12.590 594.377 Other restricted funds The Netsvork Farmholfse develoF)ment John James Foundation - commL¢nity fridge George Wills Hall Microsettlement The Swan University of Brlstol Fellowship Grant BOOST West of England Works SPAN 6,195 45.000 401,139 13,6131 145,0001 116.3991 133,4701 2,582 108,013 33.470 210.756 703.509 38,975 97,976 86,272 71.259 {36,975} {97,9761 186.2721 171.2591 2.000 3,312,280 1.014.616 11,052,157) 210,756 3.485.495 TOTAL OF FUND8 4,309.528 1,989,505 11,924,909} 4,374,124 Paqe 31
WELLSPRING SErrLEMENT IA COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 RECONCILIATION OF NET MOVEMENT IN FUNDS TO NET CASH FLOW FROM OPERATING ACTIVITIES 19. 2022 2021 Nel incomelexpendilure for the year las per Statement of Flnancial Activibesl 1115.713) 64,596 ADJUSTMENTS FOR: Depreciation charges Dividends, interests and rents from investments Decrease in stocks Decrease in debtors Decrease in creditors Movement in provisions 196,063 166.421 11,6471 307 38,686 {68,6141 3,689 (31,2941 {8.589) NEf CASH PROVIDED BY OPERATING ACTIVITIES 44,156 201,749 20. ANALYSIS OF CASH AND CASH EQUNALENTS 2022 2021 Cash In harKI 119,212 233,177 TOTAL CASH AND CASH EQUIVALENTS 119.212 233,177 21. ANALYSIS OF CHANGES IN NET DEBT At 1 Aprll 2021 Cash flows At 31 March 2022 Cash at bank and in hand Debt due within 1 year Debt due after 1 year 233.177 1113.9651 119,212 (94,6351 1159.0471 12S3,6821 {1,486,1791 257,795 11.228.384) (1.347.637) {15,217) {1,362,8541 Pag8 33
WELLSPRING SETTLEMENT (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 22. PENSION COMMITMENTS The group operates a dofined contribution pensNJn scheme. The assets of the scheme are held separately from those of the group in an independently administered fund. The pension cost charge represents contributions payable by the group lo the fund and amounted lo £43,41512021.. £48,636) wlh a balance ol £6,19512021-. £8,1141 payable at the balance sheet dale which is included in creditors. 23. OPERATING LEASE COMMITMENTS At 31 March 2022 the Charity had commitments lo make fLrture minimum lease payThents under non- cancellable operating leases as follows: 2022 2021 Not later than 1 year Later than 1 year and not later than 5 years 2.856 4,563 7,419 24. MEMBERS, LIABILITY Each rnember of the eharitable Company undertakes lo contribute lo the assets of the company in the event of it being wound up while helshe is a member, or wlhin one year after helshe ceases lo be a member, such amount as may be required, not exceeding £10 for the debts and liabilities contracted before helshe ceases to be a member. 25. RELATED PARTY TRANSACTIONS The Charfty has not entored into any related party transaction during the year, nor are there any outstanding balances owing betsen related parties and the Chafity at 31 March 2022. Pag8 34