Reglstered number: 05031499
Charlty number: 1103139
WELLSPRING SETTLEMENT
(A COMPANY LIMITED BY GUARANTEE)
TRUSTEES, REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
Bishop Fleming

WELLSPRING SETTLEMENT
(A COMPANY LIMITED BY GUARANTEE)
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS
FOR THE YEAR ENDED 31 MARCH 2025
Trustees
Abdi-salam Askar. Treasurer
Abdullahi Farah
Anne Joslin
Emily Purkhardt (appointed 1410112025)
Ewan Cameron (appointed 0410612025)
Gerry Monaghan
Hollie Morgan, Interim Chalr
Jacob Wilhington (appointed 05103120251
Jenny Bodnarchuk (reslgned 1610512024)
Sandra Kelly (resigned 0110812024)
Sarah Jahfar (resigned 0510312025)
Steffi Calderbank
Will Bee, Chair
Company reglstered
number
05031499
Charity reglstered
number
1103139
Reglster8d office
43 Ducie Road
Barton Hill
Bristol
BS5 OAX
Company secretary
Beth Wilson
Key management
personnel
Beth Wllson, Chief Exgcutive Officer
Anya Mulcahy-Bowman, Deputy Chief Executive Officer
Paul Simpson, Deputy Chief Executive Officer
Independent auditors
Bishop Flemlng Audit Limited
Chartered Accountants
10 Temple Back
Bristol
BSI 6FL
Bankers
Lloyds Bank PIC
Regent Street
Kingswood
Bristol
BS15 8HT
Sollcitors
Burges Salmon
1 Glass Wharf
Bristol
BS2 OZX
Page 1

WELLSPRING SETTLEMENT
(A COMPANY LIMITED BY GUARANTEE)
TRUSTEES, REPORT
FOR THE YEAR ENDED 31 MARCH 2025
Wellspring Settlement is a company limited by guarantee (number 05031499) registered as a charity (number
1103139). It is governed by its Mernorandum and Articles of Association and the Companies Act 2006.
The Trustees, who are also Dlrectors of the charity for the purposes of the Companles Act 2006, present their
report with the financial statements of the charity for the year ended 31 March 2025. The Annual Report serves
the purposes of both a Trustees, report and a Directors, report under Company law.
The Trustees confirm that the Annual Report and financial statements of the charitable company comply with
current statutory requirements, the requirements of the charitable company's governing document and the
provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts
in accordance with the Financial Reporting Standards applicable in the UK and Republic of Ireland (FRS102)
(effective 1 January 2019).
Public Benefit
In preparing this report, the Trustees of Wellspring Settlement have had due regard to the Charity Commisslon's
guidance on publlc benefit in the delivery of the charitys purpose and aims.
OBJECTIVES AND ACTIVITIES
Purposes and aims
Wellspring Settlement is a community anchor organisation embedded in the community of Barton Hill in Brlstol,
providing a range of services, activities and facilities for the community.
The objects of the charity are, for the publlc benefit, th8 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 ("the Area of Benefif.), but with a particular focus on the residents of Lawrence Hill and Easton
and the surrounding neighbourhoods, whether alone or in partnership with local residents and statutory,
voluntary and olher organisations in a common effort by:
advanclng awareness and education around the issues of good health (mental and physical} and
adopting and maintaining healthy lifestyles (which shall Include promoting and encouraging publi
participation in healthy exercise and physical activity) and through the provision of support.
education and practical advice reducing health inequalities, improving self-esteem and the health
and wellbeing of the community so that conditions of life may be improved: and
providing or assisting in the provision of facilities in the Area of Benefit in the interest of social
welfare for recreation or other lelsure time occupation of individuals who have need of such facilities
by reason of their youth, age, infirmity or disability, financial hardship of social circumstances with
the object of improving their conditions of life., and
maintaining and managing commLrnity assets in th& Area of Benefit and C(￿OperatIng with any
partner organisation in the maintenance and management of such assets and to develop further
community assets for activities promoted by the charity In furtheranc8 of its objects.
Our goals".
At Wellsprlng Settlement, our vlslon Is., Strong dynamic communities where everyone has a good quality Ilfe.
Our mission is: Wellspring Settlement will achieve our vision by harnessing skills and resources locally to power
community led change. We will promote communltles that grow together. challenging inequalities and fighting for
equity in all forms.
Our Values are:
Integrity of word and deed forms the basis of all relationships
For us, real leadership is serving the community first
Celebrating diversity. this is our strength
We will demand equity in all our work
We will dedicate long-term stamlna to achieve our goals
Nobody is a stranger and everyone feels safe and welcome
Page 3

WELLSPRING SETTLEMENT
(A COMPANY LIMITED BY GUARANTEE)
TRUSTEES, REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
In 2024125 Wellspring Settlement delivered a broad range of services under four core themes:
Family and Youth
Community
Advice and Economic Resillence
Health
All of our activities and services contributed to our overall organisational impact and four outcome areas {these
were developed in 2023124 through a Theory of Change process):
Overall impact: Building a thriving. inclusive and socially connected community where people are
able to choose and inftuence their future;
Outcome area 1: People feel welcome, belonging, reduced isolation, build connections and
resilience,.
Outcome area 2: The impact of poverty and health inequalities is alleviated.,
Outcome area 3: Increas8d confidence, purpose and new opportunities for personal development
and growth.
Outcome area 4: Sustainable communities.
We also act as landlord to 11 other organisations and rent out roams for health. education and leisure purposes.
Our community:
Barton Hill, which represenls the community primarlly served by Wellspring Settlement and where the
organisation is based. is in the heart of Bristol, a short distance East of the City Centre. in the ward of Lawrence
Hill. It is an area that has undergone significant change in the last 100 years since there was first a Settlernent
organisation in Barton Hill. There have been physical changes, including the replacement of factories and back
to back housing with tower blocks. as well as changes in the people who live here as a vastly while community
has become one of the most ethnically diverse in the city. On the doorstep of one of the biggest development5
in Europ8- Temple Quarter- Barton Hill faces many challenges but faces them together, as a community.
Lawrence Hill ward ranks amongst the most depriv8d ward In Bristol. 7 of the 9 areas making up Lawrence Hlll
ward rank in the most deprived decile in England, including Barton Hill where Wellspring Settlement is located.
The number per thousand claiming out of work benefits In Lawrence Hill is double the Bristol average and
Lawrence Hill has the highest rate of unemployment in Bristol. 550/0 of children in Lawrence Hill are living in child
povety, not surprising considering that Lawrence Hill ward has the highest rates of benefit claimants in Bristol
(Universal Credit, Tax Credits. Housing Benefits). 440/0 of residents live in socially rented accommodation;
16.69/0 experience overcrowding; 750/9 of accommodalion has 2 beds or less, compared with a 45014 city average,
this despite a higher than average number of multi-generatlonal households in the local area.
In the last 5 years alone, the communlty has faced many challenges. The Covld-19 pandemic disproportionately
affected Lawrence Hill, as it did other areas of deprivation. The ¢ost-of living crisis has exacerbated the
challenges people wer8 already faclng wlth an increasing number of people facing destitution. Across Bristol,
there has been an increase In knlfe crime, particularly involvlng young people. The evacuation of one of the
Barton Hill tower blocks. Barton House, in Novemb8r 2023, sent shockwaves through th& community as people
watched frlends, family and communlty members forced out of thelr homes, at the same time as worrying what it
mlght mean for their own home.
Most recently, the introduction of the East Brlstol Llveable Neighbourhoods Scheme. has highlighted the
additional challenges faced by this community when presented with traffic calming schemes supposed to
improve neighbourhood health and wellbeing but which for many have manifested as maklng an already
challenging life, seem impossible. High levels of mental health problems, exacerbated by the perpetual crises
people face, ripple through the community, with many unable to get the help they need.
Key partnerships and networks
Wellsprlng Settlement aims to be embedded in th8 Barton Hill community, working with and for the local
communlty. We work alongslde other local VCSE organisatlons to bring about the most benefit for the local
community. W8 aim to work in partnership where we can see that this will add value to the work we do or bring
Page 5

WELLSPRING SETTLEMENT
(A COMPANY LIMITED BY GUARANTEE)
TRUSTEES, REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
aged 16.24. 1611/0 were aged 50.64,. 80￿ were aged 64-74; and 4¥0 were 75+. This reflects our "cradle to grave"
approach, with service users from all age groups accessing services.
Around 500/0 of people who answered our question about disability told us they were dlsabled, however this
represents around 130/0 of the people we worked with in total. This is an increase from 9 % in the previous year
which r8flecls our goal to increase transparency and tolerance around disability and encouraglng people to feel
able to report their needs and ask for the additional support that will help them make the most of our offer.
78 % of our service users told us they lived in the BS5 postcode area and 10 /0 live in the BS2 postcode area.
This means that the vast majority of seNice users are local to Barton Hill. 680/0 had used our services before
and 320/0 were new to Wellspring Settlement.
We were joined by new tenants, Headway Bristol and Wild Dandelion CIC. Other tenanls include a GP
surgery, Children and Adolescent Mental Health Services. local charities including Bristol Refugee Rights and
Bristol Somali Resource Centre.
We had 7041 room bookings of which 2809 were external, 2391 were Internal and 1841 w8re tenants. Room
bookers included local authority., NHS,. universitieslcolleg8slschoolsleducatlon providers,. national ¢harities,' local
VCSE and grassroots,. tenants; small buslnesses,. and counselling. Issues they cover range from health and
wellbeing, mental health support, support for disabled people- statutory support, education and employment
opportunities,. information advice and guidance., work with children and young people and support for parents.,
support for asylum seekers and refugees., community groups,. digital inclusion; and food. Al least 790/0 of
external booking5 were for community benefit.
Family and Youth themed work and Highlights:
The Family Hub offers parenting programmes. baby groups, support for parents and carers, and activlties for
children. We are the physical location of the East Central Campus approach to Famlly Hubs which aims to work
with families of children from 0-19 or 25 with SEND. Our services in 24125 included..
Famlly Hub: we provide universal and target8d services for parents with pre-school aged chlldren
including parenting courses,. stay and play s8ssions; postnatal support and 1,1 family support.
Parentlng programmes: these included delivering Strengthening Familles Strengthening
Communitles programme. a programme designed to help parents raise happy and successful
children.
Youth services: we work with children transitioning from primary to secondary school and of
secondary school age children on a 1..1 basis and in group settings to provide a safe, fun space.
bulld confidence and aspiration. We delivered a mixture of detached and centre-based aclivilies,
trlps and sports. This year we delivered a mixture of universal and targeted activities includlng a
glrls group and a junior youth session,
24125 Highllghts:
/ 1918 people benefltted from our Famlly and Youth services. This includes 359 who benefited from
our youth services.
O Our capltal redevelopment project, converting the fomier Swan Pub into a new Youth Faclllty was
completed in August 2024 and opened in Autumn 2024. Now named "The Swannerv, following a
consLkltation with young people, youth activities are running up to 4 nights a week from the cenlre.
O Our Youth Project successfully completed the National Youth Agency (NYA) Practice Standards
Framework. Young people were involved throughout the development of the cenlre and the project
and this was recognised by the NYA in their assessment.
O Youth attendance has grown and grown since the opening of The Swannery reflecting the needs
and trust of young people in the local area.
In our Strengthening Families, Strengthening Communities programme, we were successful in
being re-commissioned to continue to deliver the service for a further up to three years followng
competitive commissioning process.
O Our youth project arranged trips to the Hippodrom8, Ic8 skating, local football matches. We hosted
11 young p80ple for work experience.
/ Small capital projects, funded through a mixture of funds and supported by staff and volunteers
Page 7

WELLSPRING SETTLEMENT
(A COMPANY LIMITED BY GUARANTEE)
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
concerts.
Our gardening project created a community orchard on site at Wellspring Settlement and are
working closely with Alive Activities to make our on site green spaces lovely whilst also offering
opportunities for people to volunteer and get involved.
Partnerships: We worked closely with other local organisations In Barton Hlll, particularly utilising
the Big Up 8arton Hill network. our Gardening project is working closely with The Birch Collectlve
and piloting a group with Child and Adolescent Mentsl Health Services.
In 25126: We will be continuing to curate our entrance area as a space for community activity and events.
We're planning to hold more events for the community and our gardening project has lots of plans for the
community to get involved in outdoor spaces in and around Wellspring Settlement.
Advlce and economic reslllence themed work:
Our advlce and economic resilience themed work focuses on addressing the wider detemiinants of health
includlng economic challenges. The goal of this work is to help people be mor8 resilient for the future. Our
seNices In 24125 included..
Boost Communlty: aims to support people to build financial confidence and achieve thelr
aspirations. offerlng advice information and support with issues such as houslng, debt and money,
whilst also building community relationships.
Food Project.. we run a membership-based Food Club for access to low-cost food: as well as
opportunities for cooking together and growing together.
Adult educatlon: we offered a range of opportunilies for people who want to leam or aspire.
Highlights
/ 700 people benefitted from our advice and economic resillence services. This included..
432 supported by Boost
239 supported by Food Club
29 engaged with Cooking Club
O Our longstanding Boost partnership, whlch has become overwhelmed with need during the cost of
living crisis. worked closely with our direct partner organisation's to develop the delivery model to
sustainably respond to the ever growing and changing need in the community, utilizing a¢Jditional
funds secured through the Household Support Fund to expand capacity
/ Boost supported people to tackle their immediate crises and become more financially resilient in the
long term. 860/0 of Boost users reported that they felt more in control of their money and mo
confident to make financial decisions.
O Our servlces worked wilh volunteers to bring additional capacity and provide opportunities for
people to learn, use skills and develop. 1 OOO/o of volunteers we asked felt that the work they were
doing made a difference to the community.
/ The community cafe, which initially started as a warm space, became a staple part of Wellspring
Settlement's food offer, popular with the community as a place of warmth and community as well as
food.
O We continue to progress our approach to food wlth a focus on resllience, sustainability and
community. Food Club members were encouraged tojoin a cooklng club, cooking and eating
together but also cooking food to be glven out in Food Club or for people to enjoy in the cafe.
Our food projects adopted a "no waste approach" working with partners to ensure any leftover food
was shared, replanting seeds from herbs and vegetables grown to ensure there would be futUTe
crops.
/ The Shaplng Places for Healthier Lives project allowed community members to work together to
build community strengths whilst addressing food insecurity.
O Our Adult Education project worked wilh the community to understand their needs and what would
work best for people to aspire and progress. This learning is being used to inform our future
planning.
/ Partnerships: Talking Money and Housing Matters were key partners in our BOOST project., food
partners included Food Cycle and cross-sector partners as part of the Shaping Places for Healthier
Lives programme.
Page 9

WELLSPRING SETTLEMENT
(A COMPANY LIMITED BY GUARANTEE)
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
how we can be a community development organisation at the same time as being here for our community to
support them through lifes challenges. ThSs exploratory work will continue into 25126.
The East Brlstol Liveable Neighbourhood Scheme has been implemented over a number of months during the
year, although it did not officially become live until June 2025. The scheme has created tension and cohesion in
the community- driving apart those on different sides of the debate and driving together those who shared a
common view. The goal of the scheme is to make the area safer to walk and cycle and to improve air quality.
But, the scheme has and will make travel for those living in and around Barton Hill more challenging. On a
practical level. the scheme has made it more Challenging for people to drtve to our buildings which may have an
impact on our self-generated income as well as on community members ability to access services and support.
4. PLANS FOR THE FUTURE
Our plans for the future include:
A serfes of community events dellvered In partnership with other local organisations, building
community resilience following the summer riots of 2024.
Curating our spaces to feel more like they are owned by and reflect the local community; bringlng
more activities which are open to all Into our spaces.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The company's name is Wellspring Settlement with effect from the date of transfer to the charity of the charitable
undertaking of Wellspring Healthy Living Centre (charitable number 1134593) on 1st February 2020. Wellspring
Settlement Is a charitable company limited by guarantee, not having a share capital. It was previously known as
Barton Hill Settlement which formed as a company on 2 February 2004. Barton Hill Settlement was originally
established in 1911 when it was known as University Settlement Bristol. Wellspring Settlement was formed after
a ￿0-year merger f8asibility process between Barton Hill Settlement and Wellspring Healthy Living Centre.
Wellsprlng Settlement is controlled by Its governing document, the Memorandum and Articles of Association
which were last updated on 6 February 2020.
Recruitmenl appolntment and responsibilities of charity directors
Governance of Wellsprlng Settlement is through a Board of Trustees elected at the AGM. The Board of
Trustees has flnal legal authority and is responsible for overseeing the operation of the entire charity and its
activities. The Trustees are also Dire¢tors of the Company.
The Memorandum and Articles of Association requlre that Directors who have completed a three-year term of
appointment shall retire at the Annual General Meeting. They shall be eligible for reappointment subject to a
maximum of thr88 terms of offlce. Any Director who has completed three terms of appolntment must st8p down
from the board for a period of 12 months before they can be reappointed. Any Director servlng as a Director on
18 December 2019 was taken to commence their first three-year term from that date.
All Trustees of the Board glve their time voluntarily and receive no benefits from the Charlty.
The Charlty's area of benefit is very diverse and therefore the Board of Trustees seek to ensure that the assets
of the different communities are reflected through the diversity of the Trustee Board.
Wellspring Settlement aims to recruit Trustees who are local residents and are currently. or have been. service
users so that they already have a good understanding of some of the organisation's work. Wellspring Settlement
also aims to ensure a mix of skills on the Board of Trustees, seeking to address any gaps through targeted
Trustee recruitment.
Wellspring Settlement can have a maximum of 15 Trustees. The Chair and Treasurer are elected annually at
the AGM. Other officers are appointed by the Trustee Board.
Page11

WELLSPRING SETTLEMENT
(A COIVIPANY LIMITED BY GUARANTEE)
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
Reserves policy
Wellspring Settlement recognises the importance of maintaining an appropriate level of reserves to allow for
contingency planning or action. Wellspring Settlement aims to develop an appropriate level of reserves based on
real risk assessments. For 2024125 this was set at £146,00Q.
In 2024125, Trustees approved the sale of an asset., a building known as The Dug Out, which was occupied by a
tenant, to secure our reserves target of £146,000 and pay off a significant loan.
In 9025, we are in the process of undertaking a full review of our reserves risk assessments and this figure may
change as a result.
Reserves are reviewed at meetings of the Board meeting at least half yearly, or more frequently if required.
Decisions regarding the use of reserves will be informed by the Board.
Principal funding sources
In 24125 we had a range of funding agreements with..
Age UK
Bristol City Council
Bristol Inner City Primary Care Network
Burges Salmon
Business In The Community
Household Support Fund
Garfield Weston
Go Fund Yourself
Graft Community CIC
Grateful Society
ICE locality Inequalities Fund
Jolin James Bristol Foundation
John Armitage Charitable Trust
National Lottery Community Fund
NHS
Nisbet Trust
Quartet Community Foundation
Sirona Care and Health
Thrive 8ristol
University of Bristol
West of England Combined Authority IWECA)
Youth Investment Fund {YIF)
and many others.
Approved by order Oi the members of the board of Trustees and signed on their behalf by..
Hollie Morgan
Interim Chair of Trustees
Date.. 3rd De
mber 2025
Page 13

WELLSPRING SETTLEMENT
{A COMPANY LIMITED BY GUARANTEE)
INDEPENDENT AUDITORS. REPORT TO THE TRUSTEES OF WELLSPRING SETTLEMENT
Opinlon
We have audited the financial statements of Wellspring Settlement {the 'charitl) for the year ended 31 March
2025 which cornprise the Statement of Financial Activities. the Balance Sheet, the Statement of Cash Flows and
the related notes, including a summary of significant accounting policies. The financial reportlng framework that
has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including
Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of
Ireland, (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
give a true and fair view of the state of the charitable company's affairs as at 31 March 2025 and of Its
incoming resources and application of resources, including its income and expenditure for the year then
ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting
Practice; and
have been prepared in accordance with the requirements of the Companies Act 2006.
Basis for oplnlon
We conducted our audlt In accordance wlth International Standards on Auditing {UK) {ISAs (UK)) and applicable
law. Our responsibilities under those standards are further described in the Auditors, responsibilities for the audit
of the financial statements sectlon of our report. We are independent of the charitable company in accordanGe
with the ethical requirements that are relevant to our audit of the financial statsments in the United Kingdom,
including the Financial Reportlng Council's Ethical Standard, and we have fulfilled our other ethical
responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is
sufficient and appropriate to provide a basis for our opinion.
Concluslons relating to golng ¢oncern
In auditlng the financial statements, we have concluded that the Trustees, use of the going concern basis of
accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertaintles relating to events or
conditions that, individually or coll&ctlV81y, may cast significant doubt on the charitable companvs ability to
continue as a going concern for a period of at least twelve months from when the financial statements are
authorised for issue.
Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the
relevant sections of thls report.
Other information
The other information comprises the information included in the Annual Report other than the financial
statements and our Auditors, Report thereon. The Trustees are responsible for the other informatlon contained
within the Annual Report. Our opinion on the financial statements does not cover the other informatlon and,
except to the extent otherwise explicitly stated In our report, we do not express any form of assurance conclusion
thereon. OLJr responsibility is to read the other informatlon and, In doing so. consider whether the other
information is materially inconsistent with the flnanclal statements or our knowledge obtalned in the course of the
audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent
material misstatements, we are required to determine whether this gives rise to a material misstatement in the
financial statements themselves. If. based on the work we have performed, we conclude that there is a material
misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
Page 15

WELLSPRING SETTLEMENT
(A COMPANY LIMITED BY GUARANTEE)
INDEPENDENT AUDITORS, REPORT TO THE TRUSTEES OF WELLSPRING SErrLEMENT
(CONTINUED)
Auditors. responsibilities for the audit of the financlal statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free
from material misstatement, whether due to fraud or error, and to issue an Auditors, Report that includes our
opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in
accordance with ISAS (UK) will always detect a material misstatement when it exists. Misstatements can arise
from fraud or error and are considered material 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 statements.
Irregularlties, Including fraud. are Instances of non-compliance with laws and regulations. We design procedures
in line wlth our responsibilities, outlined above. to detect material misstatements in respect of irregularities,
including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is
detailed below:
We have considered the nature of the sector, control environment and financial performance of the entity.
We have considered the results of enquiries with management and Trustees in relalion lo their own
identification and assessment of the risk of irregularities within the entity,. and
We have revlewed the documentation of key processes and controls and performed walkthroughs of
transactions to confirm that the systems are operating in line with documentation,
As a result of these procedures, we considered the opportunities and incentives that may exist within the
organisation for fraud and identified the highest area of risk to be in relation to revenue recognition, with a
particular risk in relation to year-end cut off. In common wilh all audits under ISAS (UK). we are also requlred to
perform specific procedures to respond to the risk of management override.
We also obtained an understanding of the legal and regulatory frameworks that the Company operates in,
focusing on provisions of those laws and regulations that had a direct effect on the determination of material
amounts and disclosures in the financial ststements. The key laws and regulations we considered in this context
Included the UK Companies Act and FRS 102 and UK tax legislation.
In addition, we considered 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 Charity's ability to operate or to avoid
a material penalty,
Our procedures to respond to risks identified included the following:
Reviewing the financial statement disclosures and testing to supporting documentation to assess compliance
with provisions of relevant laws and regulations described as having a direct effect on the financial
statements:
Performlng analytical procedures to identify any unusual or unexpected relationships that may indicate risks
of material misstatement due to fraud:
Reviewing board meeting minutes;
Enquiring of management in relation to actual and potentlal clalms or Iltlgatlons;
Performlng detailed transactional testing in relation to the recognition of revenue with a particular focus
around year-end cut off", and
In addressing the rlsk of fraud through management override of controls. testlng the appropriateness of
Journal entries and other adjustments,. assessing whether the Judgements made in accounting estimates are
indicative of a potential bias. and evaluating the business rationale of significant transactions that are
unusual or outside the normal course of business.
We also cornmunicated relevant identified laws and regulations and potential fraud risks to all engagement team
members, and remained alert to any indications of fraud or non-compliance with laws and regulations throughout
the audit.
Because of the Inherent limitations of an audit. there is a risk that we will not detect all irregularitie5, including
Page 17

WELLSPRING SETTLEMENT
(A COMPANY LIMITED BY GUARANTEE)
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT)
FOR THE YEAR ENDED 31 MARCH 2025
Restricted Unrestricted
funds
funds
2025
2025
Total
funds
2025
Total
funds
2024
Note
Income from:
Donations and legacies
Charitable activities
5,264
820,737
5,264
2,456,079
625
2,230,393
1,635,342
Total income
1.635,342
826,001
2,461,343
2,231.018
Expenditure on:
Charitable activitles
1,635,342
136,140
1,771,482
1,959.148
Total expenditure
1,635,342
136,140
1,771,482
1,959,148
Net movement in funds
689,861
689,861
271.870
Reconclllatlon of funds:
Total funds brought forward
Net movement in funds
19,900
4,287,932
689,861
4,307,832
689,861
4,035,962
271,870
Total funds carried forward
19,900
4,977,793
4.997,693
4,307,832
The Ststement of Financial Activities includes all gains and losses recognlsed In the year.
The notes on pages 22 to 37 form part of these financial statements.
Page 19

WELLSPRING SETTLEMENT
{A COMPANY LIMITED BY GUARANTEE)
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 MARCH 2025
2025
2024
Cash flows from operating activities
Net cash used in operating activities
558,405
695,817
Cash flows from inv8Sting actlvltles
Purchase of tangible fixed assets
(675,826) (398,156)
Net cash used In investlng actlvltles
(675,826) {398.156)
Cash flows from financlng activities
Repayments of borrowing
(50,7381 (128,111)
Net cash used in flnanclng activities
(50,738) (128.111)
Change In cash and cash equivalents In the year
Cash and cash equivalents at the beginning of the year
{168,1 $9)
160,366
169,550
(9,184)
Cash and cash equivalents at the end of the year
(7,793)
160,366
The notes on pages 22 to 37 form part of thes8 financial statements
Page 21

WELLSPRING SETTLEMENT
(A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
Accounting policles (continued)
2.4 EXPENDITURE
Expenditure is recognised once there is a legal or constructive obligation to transfer economlc benefit
to a third party, it is probable that a transfer of economic benefits will be required in settlement and
Ihe amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs
of each activity are made up of the total of direct costs and shared costs, including support costs
involved in undertaking each activity. Direct Gosts attributable to a single activity are allocated directly
to that activity. Shared costs which contribute to mor8 than one activity and support costs which are
not attrlbutable to a slngle activity are apportioned be￿een those actlvities on a basis consistent with
the use of resources. Central staff costs are allocated on the basls of lime spent, and depreciation
charges allocat8d on the portion of the asset's use.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the
Charitys objectives. as well as any associated support costs.
All expenditure is inclusive of irrecoverable VAT.
2.5 TANGIBLE FIXED ASSETS AND DEPRECIATION
Tangible fixed assets costing £1,000 or more ar8 capitalised and recognised when future economic
benefits are probable and the cost or value of th8 asset can be measured reliably.
Tanglble fixed assets are initlally recognlsed at cost. After recognitlon, under the cost model, tangible
fixed assets are measured at cost less accumulated depreciation and any accumulated impairment
losses. All costs incurred to bring a langlble flxed asset into its intended worklng condition should be
included in the measurement of cost.
Depreciation Is charged so as to allocate the cost of tsngible fixed assets less their residual value
over their estimated useful lives, using the straight-line method.
Depreciation is provided on the following basis:
Freehold property
Fixtures and fitings
Motor vehicles
Mlcrosettlements
Computer equipment
other fixed assets
2V• Straight Line Method
1 00/0 Straight Line Method
20Vo Straight Line Method
40/0 Straight Llne Mgthod
33.fi Straight Llne Method
100/0 Straight Line Method
2.6 DEBTORS
Trade and other debtors are recognised at the settlement amount after any trade discount offered.
Prepayments are valued at the amount prepaid net of any trade discounts due.
2.7 CASH AT BANKAND IN HAND
Cash at bank and in hand includes cash and short-term highly liquid Investments with a short maturity
of three months or less from the date of acquisltion or opening of th8 deposit or similar account.
Page 23

WELLSPRING SETTLEMENT
(A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
Income from donations and legacies
Unrestricted
funds
2025
Total
funds
2025
Total
fvnds
2024
Donations
5,264
5,264
625
Income from charltable activitles
Restricted Unrestricted
funds
funds
2026
2025
Total
funds
2025
Total
funds
2024
Grants and contracts
Room hire
Rental income
Other earned income
Consultancy
1.633,285
125.000
77,700
544,779
65,133
8,125
1,758,285
77,700
544,779
67,190
8.125
1,487.775
78,423
492,123
171,302
770
2,057
1,635,342
820.737
2,456,079
2,230.393
TOTAL 2024
1,489,871
740.522
2,230,393
Analysls of expenditure on charitable a¢tlvltles
Summary by fund type
Restrlcted Unrestrlcted
funds
funds
2025
2025
Total
2025
Total
2024
Charitable activities
1,635,342
136,140
1,771,482
1,959.148
TOTAL 2024
1,489,871
469,277
1.959,148
Page 25

WELLSPRING SETTLEMENT
(A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
Analysis of expenditure by activities (continued)
Analysis of support costs
Total
funds
2025
Total
funds
2024
Depreciation
Other staff costs
Premises costs
Computer and office supplies
Governance and professional costs
Marketing and subscriptions
Insurance
Bank and interest charges
FOCUS
External partners
V&hicle costs
Bad debts
175,910
12,940
285,894
95,740
28,088
34,568
33,062
36,123
17,265
122,212
537
1,033
175,819
26.212
280.755
79,562
43,497
4,639
42,588
59,884
17.677
129,937
4,015
(1,159)
843,372
863,426
Audltors, remuneratlon
2025
2024
Fees payable to the Charivs auditor for the audit of the Charivs annual
accounts
12,980
12,250
Staff costs
2025
2024
Wages and salaries
Soclal security costs
Contribution to defined contribution pension schemes
825.981
58,730
38,432
970,385
72,441
46.858
923,143
1,089,684
Page 27

WELLSPRING SETTLEMENT
(A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
11. Tangible fixed assets
Fixtures,
fittings &
equipment
Freehold
Micro-
property settlements
Motor
vehicles
Total
COST
At 1 April 2024
Additions
7,478,338
628.505
723,720
13,200
312,193
47,321
8,527.4S1
675,826
At 31 March 2025
8,106,843
723,720
13,200
359,514
9,203,277
DEPRECIATION
At 1 April 2024
Charge for the year
2.132.905
160,110
100,930
28,950
13,200
281,892
9,563
2,528,927
198.623
At 31 March 2025
2,293,015
129,880
13,200
291,455
2,727,550
NET BOOKVALUE
At 31 March 2025
5,813,828
593,840
68,059
6,475.727
At 31 March 2024
5,345,433
622,790
30.301
5,998.524
12. Debtors
2025
2024
DUE WITHIN ONE YEAR
Trade debtors
Other debtors
Prepayments and accrued income
96,322
59.242
1,130
52,545
46,615
142,937
112,917
Page 29

WELLSPRING SETTLEMENT
(A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
14. c￿dItors. Amounts falling due after more than one year
2025
2024
Bank loans
Other loans
211,652
856,697
222,326
875,095
1,068,349
1,097,421
Included within the above are amounts falling due as follows..
2025
2024
BETWEEN ONE AND TWO YEARS
Bank loans
Other loans
114,725
117,197
99,382
65.161
BEfwEEN TWO AND FIVE YEARS
Bank loans
Other loans
96,927
224,659
122,944
217,979
OVER FIVE YEARS
Other loans
514,841
591,955
15. Provlslons
2024
At 1 April 2024
Additions
18,657
32,179
50.836
The Charivs provisions relate entlrely to a sinking fund on one of their rental properties. This fund is
made up of monies received from tenants above the agreed rental payments and Servi￿ charge. It is
used for larger capital works on the relevant properties.
Page 31

WELLSPRING SETTLEMENT
(A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
16. Slatement of funds {continued)
Restricted Funds
Freehold WHLC
this balance reflects the transfer of buildings to the newly formed Wellspring
Settlement, transferred from Wellspring Healthy Living Centre, following the merger on 1 February 2020.
Farmhouse development - balance reflects the amount funded by Futurebuilders England and NHS
Building Fund. less non-capitsl spending on the prolect to redevelop the Farmhouse and includes tenant
specific requirements for Ihe farmhouse development.
George Wllls Hall - the charity received funds from Bristol Clty Councils CIL fund, these funds will be
used for a new roof and the addition of accesslble facilities at the venue.
Microsettlement - these funds were used in the construction of the new building project as outlined in the
Report from the Trustees.
Family HUB this hub includes the Family Centre from previous years together with our Strengthening
Familles, Strengthening Communities project (SFSC), our new Youth project and a one year Children and
Young Peoples Social Prescribing Project (CYP OCN). The Family Hub, SFSC and CYP PCN were all
funded by Bristol City Council. whilst our Youth Services received funding from Youth Investment Fund,
National Lottery Community Fund, University of Bristol and Quartet Community Foundation,
Development HUB
encompasses BOOST Community - funded by BCC and Th8 Housing Support
Fund, Thrive {Formerly CASS). funds from WESPORT for Physical Activities, Social Prescribing (funded
through the PCN), Hospital DischargelGolng Home funded by BCC and a Community Health Research
Project funded by the University of Bristol. Our Adult Education Programme was funded by Community
Learning Fund.
Community First HUB - Community Engagement funded by BCC. and Older Persons and Art Project
funded by The Grateful Society, a Food Club funded by the Housing Support Fund & Go Fund Yourself. a
Gardening for Health project, funded by Friends of the Earth - Postcode Gardener fund Slrona Ice
Inequalities and Quartet Community fund.
Restricted income unspent balances will be spent in 2025 - 2026.. All funds are used to provide services
across all our Impact areas.
Page 33

WELLSPRING SETTLEMENT
(A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENOED 31 MARCH 2025
17. Analysis of net assets between funds
Analysis of net assets between funds - current year
Restricted Unrestricted
funds
funds
2025
2025
Total
funds
2025
Tangible fixed assets
Current assets
Creditors due within one year
Creditors due in more than one year
Provisions for liabilities and charges
6,475.727 6,475,727
126,128
146,028
(504.877) (504,877)
(1,068,349) 11,068,349)
(50,8361
(50,836)
19,900
TOTAL
19.900
4.977.793 4,997,693
Analysls of net assets between funds - prlor year
Restricted Unrestrlcted
funds
funds
2024
2024
Total
funds
2024
Tangible fixed assets
Current assets
Creditars due within one year
Creditors due in more than one year
Provisions for liabilities and charges
5.998,524
5,998,524
253,383
273.283
(847,8971 (847,897)
(1,097,421) {1,097,421)
(18.657)
(18.657)
19,900
TOTAL
19,900
4.287,932 4.307,832
18.
Reconciliatlon of net movement In funds to net cash flow from operatlng actlvlties
2025
2024
Net income for the year (as per Statement of Financial Activities)
689,861
271,870
ADJUSTMENTS FOR:
Depreciation charges
Decreasel(increase) in debtors
Increasel(decrease) in creditors
198,623
(30,0201
(300.059)
175,819
125,304
122.824
NET CASH PROVIDED BY OPERATING ACTIVITIES
558,405
695,817
Page 35

WELLSPRING SETTLEMENT
(A COMPANY LIMITED B Y GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
23.
Members, liabillty
Each member of the charitable company undertakes to contribute to the assels of the company in the
event of it being wound up while helshe is a member, or within one year after helshe ceases to be a
member, such amount as may be required, not exceeding £NIL for the debts and liabilities contracted
before helshe ceases to be a member.
24. Related party transactions
During the year, the Charity made sales totalling £3,353 (2024: £NIL) to entities which have Trustees in
common with the Charity. No balances were outstanding at the year end.
Page 37