Charfty rog15trotlon number 1103436
Company Teglstralion number 05049817(England and Wale6)
THE WELLS TRUST
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2025

THE WELLS TRUST
LEGALAND ADMINISTRATIVE INFORMATION
Trustees
Slephen AyodeleAdgwole
Caroline Elizabelh Boxall
Dr Anne Margaret Boocock
Rebecca Lauren Jones
Haydon Charles William Murr
John David Musendo
Mark Frdnus Plummer
Owen Walter Day
(Resigned on 31 December 2024)
(Raslgnèd on 17 June 2024)
Secretsry
DrAnne IA8rgaTet BooGDck
(App)inled on 17 June 2024)
Charlty number
1103436
Company number
05049817
Type
Company Llmlted 8y Guarantea
Prlnclpal addre55
Wells Way
Camberwell
London
SE5 7SY
Independent examlner
Caroline BrazEeT ACA DChA
Cansdales Buslness Advlsets Umited
Chartered Accountants
st Mary¢s Court
The BrDadvrdy
Old Amersham
Bucks
HP7 OUT
Bankgrs
Bardays Bank PLC
Coffjp 8ank PLC

THE WELLS TRUST
CONTENTS
Page
Trustees, ￿pOrt
Independent examlnerfs report
Stsleménl of financial actlvllie8
Balance sheel
Notes to the finandal staternenls
8-16

THE WELLS TRUST
TRUSTEES. REPORT (INCLUDING DIRECTOR'S REPORT)
FOR THE YEAR ENDED 28 FEBRUAR Y 2025
The TNstee5 present their annual rEport arKI financial slatemenis forthe year ended 28 Febw?ry 2025.
The financial statemants have been pr8par8d In ac£ordance with 1hg accounung polldes s8t out In nole 1 trj the
financial statemenls and comply wilh the charitys goveming document, the Companies Act 2006 and "Accounting
and Reporting by Charfties: Statement of Recommended Practice appli(xble to chariiies preparing Iheir accounts in
accordancè wllh tho Flnanclal Raporlng Standard applicabl8 In Ihe UK and Rapubllc Df Ireland (FRS 102)"
(effective 1 January 2019).
The Well Community Church Is a church of 70 pdull members Ihat has led groups and pr4ects for the beneltt of our
congregation and local communlty throughout lh8 past year.The Church has good relatlonshlps with other Church&8
In Southwark and across London. partnering ￿ see transfonnalion in our communitles.
By engaging In these community acti¥iti8S, the truslees have had regard lo the guidance on publio benefil issued by
The Charity Commlsslon.
Objecuves and actlvllles
Church Actlvltlg5
During thls year. The Well Communlty Church has contlnued to serve the local ￿Mmunity in a varlety of ways.
Regular Sunday moming Church services have been open to all mambers of the public over the past ye8r, with a
regular rhythm of meetings that has Enabled the Church fo welcome new membets from a range of bad[g￿Unds
and across 811 generations. We have continued our rhylhm of outreach that has taken different forms and enabled
us to enga98 with mernbws of the publ￿, lo offer Pfayer. practltral help and invite Ihem to activiligs bas8d ID our
building and hDmes.
We only have a small number ol children within the congregation, as young families move out of London to buy
propety. In September we stsrted a new gmup for our year five to eight children. but as yet lo recruit enough older
children's workers to provide this each wee
Regular support groups for antewnatal, p)st-nalal and children's groups havè continued In ow buil(fing. providing an
essential seNice fvT families, Thi5 includes a weekly speclaltst breastleeding group with WOTnen self-referring or
belng refeTred by 0th8r services. We also run a weekty aC￿￿ty group for chlldren aged 6 months to 4 years with
Ihelr mums, dads, grandparents or carers and this continu95 to thrive wlh 15 to 20 adults and their children comlng
ach W￿0k.
The other weekly group Is our open access Wèllbeing Caf8 whlch has contlnued lo grow valh the support of a grant
from Southwark Charilles. Approximately 20 people attend the calé and (x)me from a range of soTroeGonornic
and cultural backgrounds and have a varfety ol menlal and physical health issues. Th8 cafe offers drinks and a
chance to catch up, then some fom of craft. aclivity or spéaker follo￿d ty slmpla exerclsg, midday r8fl8CtIDns and
a shared lunch. W8 have also been on a number of day trips which have been grea￿Y apprecialed. Many m8mbers
hav8 cornmentsd on how ¥ital the czfe has become to their physical and mental wellbeing.
In partnership wilh oth8r local Ghurches, we hosted teachlng and w(Yshlp events, and partnered In outreach to
connect wlh local children, young people. a￿1 famdie5 aver the Surnrner.
In the Spring, we partnered with cross cultural tearns in outreach to the public with ￿ Easter message of hope,
nnection, and encourag8menL
Monthly Men's Breakfast groups have continued. are open to guests, and remain a place wh8r8 men can connect,
grow In vulnerabilty and build relationshps.
Small groups have operated lermly lo equip members & volunteers on a dtscipleship joumèy.W8 Intend to bulld on
the success of these groups by stsrting mld5ty1 groups early in tho summer 2025.

THE WELLS TRUST
TRUSTEES. REPORT (INCLUDING DIRECTOR'S REPORT) (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2025
We have also taken the initial steps for renovation of the buildlngs on-site. An architecture prepared plans for
ranovatlon of the 1850,8 Cotlage Gre8n Chap81 part ol our bulldlng and for daveloplng a larger klichen and hlgh
quallly accesslbl& tcll81 and shpwar facllltl8$.Ov8r tha noxl y9ar wg wlll are In Ihe process of consulllng wilh tha
councll and looal counsallors and will hava a publlc consultation evening for local people In the near future. We will
Ihen be in a position to apply fcr planning permi55ion and starl lo make applications for fundlng the prolecl.
other Actlvltlès In the bulldlng
ACET UK have contlnued to oparato out of our bulldlng where Ihalr maln office Is basad.
Pllales d6sse5.have contlnued to meet on 8 weekly ba81s for member6 of Ihg local rommunity.
The hall has be8n hlred for other one.off communlly events 88 muslc rehear8al8 and famlly partles.
Monte de Sion. a local South ATnerlcan Spanlsh speaking Church, for regular worshlp s8Nicas on a we?￿Y basls
(Sunday afternoonlevenlng).
8tep Out
Slep Out (the young person's mentoring project) conllnued to gr¢￿, recruiting and tralning mentor8 and deliverlng
an excellBnt mentoring experlence for dozens of local young people
many of whom w8r8 rèferred from local
schools or Soclal servlces. Th8 project spaclfically focusèg on outdotsrlphyslcal activi119s for young people and Is
recognlzed as contrlbullng lo Ihe mental haalth and wellbelng of young people who mlght olhemise suffer becausa
of a lack of engagement or support. The mltheek youth dub conllnued to provlde a sale & heallliy envlronment for
both Step Out menl8es and other local chlldren lo enjoy, and there were also ro3ldentlal trfp5 arranged for the
young peoplo. An annual Muslcal Talent fundralser event and other famlly connecllon times were also hald over the
year.
On 23 May 2024 Step Out became an Independent charlty with lis own trustees. Wa are And will continue lo partner
wilh and support step Out oa it eonlInues Io expand its ￿a¢h lo support the lives of young paopl?.
8taff
Allson and Haydon Murr contlnued to lead the 81all team. Phll Whlte contlnued to lead Step Out wllh Jesslca
Moreno Paz supportlng hlm. Pamela Okwonga provlded admlnlstrallve support until her reslgnatlon In November
2024.
Partnershlps
The work of REACH London hes Contlnued to catalyse IhB V151on of church plantlng, leadershlp Iralnlng and
m1551onal dlsGipleshlp under the directlon of Phll stokes and Ihe REACH team. It has provided resources Ihiough Its
6 v8hlcles of prayer, dlscusslon forum5, learnlng communitles, coachlng, InlemBhlps Bnd church plantlng. Affiliatlon
has been growing thls year with new churches subscribing, n8w188d8rs being seryed and coached, and ongoing
engagem8nt and n8knrklng wlth mlcrochurchés. huddles. REACH now connècts With Over 300 leadérs and
engagéd wlth around 60 churchés th18 y8ar through Ils avants.
Lumberfack Cafe conllnued to rent our property at 70 CambeNell Church Street and has malntalned thelr move Into
hlgh end grocerles whlch augment Ihe café bu51nBSS. LumbeiJaGk Is the buslnes3 arm of the charlty whlch conlinues
to mentor and train young people referred to Ihem through thelr workshop at Goldfinch Furnitu￿ end London
Reclaimed.
Th8 W811 continuod Io BUPPOrt th8 Pric8 famlly as crDSS-cullurdl work8rs in Soufheast Asia where Ih8y offer practical
and emotional support, edUCa￿On and guldance to Rohlngya refugees. This includes antenaial classes and support
for new mothers.
We remain a strateglc partner for iNel, a cross-cullural mlsslon network through whlch we traln young people and
engage wlth partner churches in misslon.

THE WELLS TRUST
TRUSTEES, REPORT (INCLUDING DIRECTOR'S REPORT) (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY2025
The TrusleBs have pald due regard to guldance Issued by the Charity Commlsslon In decldlng what actlvltles th?
¢harlty should undertake.
Flnanclal revlew
Income lor the year was £164.118 (2024: £249,380), expenditure fty Ihè yèar was £255,782 (2024: £208,424), so
that there wa5 a net deficit of £91.664 (2024: net surplus £40.956). before a transfer of £NII belwgon funds (2024 -
restricted tc general: £17,227). Year 8nd fund8 wele £109,724 (2024: £201,388).
Out of the total expenditur8 £255,782 the transfer of £85211 to Step Out was Spettific gmnglgrants towards
mlnlslry for chlldren mentoring, whlch Is nDW a 88parate reg16tered charlty. Grants Indude from th8 city Brldg8
Foundatlon.
Roservos Pollcy
The Board of Directors have established a policy whereby freo feseNes held by the Charity should be maintained at
three months. unrestricted lunds charitable expenditure. which would equate to amund £30.000. The Trustees will
contlnue lo monilor re3erv88 based on planned exp8ndilura for thé n8xl financial year.
Rlgk Stalorn•nt
The Dlr8Ctor8 hav8 revlawed the risks to whlch a small charfty op9ratlng with few employegs is exposed.
Approprfate procedures are In place lo Idenllfy, rn0￿10r and revlew thesg rlsks on a regular basls.
Slructurei govemanGe and managoment
Durlng the perlod covered by this rnport ther8 has been one change In the makaup ol th8 curr8nt board ol Trusl8es.
The process for recrultment of new trustees Is tho responsibility of th8 Board of Trustees, who soek to recruit either
when re61gnatlons occur or wh8n sp8cIflG skills are Tequlred to holp the Tru8t aGhlev8 Its alms. Recrultment
procedures are ¢onslstent with Lwidan¢e from Ihe charities Commlsslork
Thére has beèn a strong focus on safeguardlng chlldren and vulnerabl8 adults. We have a 5afeguardlng lead and
deputy and Caroline Boxall Is our truslee for safeguardlng. Our safeguardlng pollcy has been updated and
safeguardlng Is discussed at each tnjstees meeting. The appropriatg people have had thelr DBS ¢lear8nce
obtained.
In the year ahead
Our prfority continues lo brlng Ir8nsfomallon to Ihe local community. This Indudes furthgr devélopment of our
outreach 8Ctivllles, stsrting mldstLed groups, increasing the glze of OUT leadershlp leam and continulng on with our
Cottage Green Re8tordtion plan&
The Truslees, who afe also the directors for the pur￿)se of (x)mp8ny law. and Y4ho 3eTved during the year and up lo
thè dale of signature of Ihe financial statement5 were..
Slaphen Aycdele Adewole
Carollne Ellzabeth Boxall
DrAnne Margarel Boocod
Rebecra Lauren Janes
Owen Walter Day
Haydon Charles William Murr
John David Musendo
Mark Francls Plummer
{Chalr)
(Sett8lary)
(Resigned on 31 December 2024)
IReslgned on 17 Juna 2024)
{Church leador)
(r￿aSurer)

THE WELLS TRUST
TRUSTEES. REPORT (INCLUDING DIRECTOR'S REPORT) (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY2025
Statement of trustee5' r￿ponSIbl1ft103
The Trustees who are also the dlrectors of The Wells Trust for the purpose of company law, a￿ responslble for
preparlng the Trusiees, Report and the financlal statements In accordance wtth appficable law and Unikd Klngdom
Accounting Standards (Unlted Kingdom Generally Acc8Pied Accounling Practice).
Company law requlres the Trustees to prepa￿ financlal statemenls fur each financial year which glve a true and fair
view of th8 slate of affa115 of the thartty and of the Incoming resources and application of resource5. includlng Ihe
incoma and expendilure, af the charitable company for that year.
In preparlng these financial statèments, tha Trustee5 are required lo:
- selecl sultable accounting pollcies and then apply them consislently,
- obsep4e lh& methods and principles in the Charities SORP:
- make Judgem8nts and esllmates that are reasonabl& and prudent.. and
- prepare Ihe financlal statenienls on the golng concem basis unless It is 5n8ppropriate to presum8 Ihat the charity
wlll continue In operation.
The Trustees are responsible for keeplng ad8quate 8ccounting re¢ords that dlsdose with reasonable accuracy at
any tlme the ftnancial position of the charily and enable them to ensure that the financial statements conply wllh the
Cornpani8s Act 2006. They are also responsible for safeguarding the assets of th& charity and henca for taking
reasonable steps for th8 prevention and delection of fraud and other irregulariti8S.
The trustees. report was approved by the Bo8rd of Trustees. .
£0
Carollne Boxall
Dated.. 21 July 2025

THE WELLS TRUST
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF THE WELLS TRUST
I r8POrt to Ihe Trustees on my examinalion of the finanaal statements of Tha Wells Trust (the charity) for the year
ended 28 February 2025.
Responslbllltles and basls ol report
As Ihe Trustees of ihe oharity (and also Its dirBclors for the purposes of company law). you are responslble for the
preparallon of the financlal statemenls In accordance with the requir8ments of the Companios Acl 2006.
Having satlsflBd myseff thal Ihe ftnancial slalements of the chariiy are not required lo be audiled undgr Part 16 of
Ihe Companies Acl 2006 and are eligible for independent examination. I report in respecl of my examination of Ihe
harlvs financial slatemenls cariied out under section 145 of the Charitles Act 2011. In G8rrying oul my examination
I have followed the Dliecuons glven by the Charily Commlsslon under SeCt￿n 145(5)(b) of the Charitle3 Acl 2011.
Indep•ndent examiner'8 Statement
I have completed my examinalion. l Gonfimi that no malters have come to my aU8ntlon In connecllon with the
ex8m5nalSon giving me cause to belleve Ihat In any materlal respect:
aEcounling records were not kew In respect ol Ihè charity as requI￿d by secllon 386 of the Companies Act
2005.
the financlal statements do not accord wllh Ihuse record5,' or
the ffin8nc181 statements do not comply wllh the accounung requlrements of secllon 396 01 Ihe Companles Acl
2006 olher than any requlfement Ihal the Ilnandal slatements give a true and lalr vlew, whlch is not a maltar
consldered as part of an Independent examlnatlon: or
the financi81 slalements havé nol b8en preparod In accordance wlth the method8 and prindples of the
Statement of RecommendeLI Pr8clice for accounllng and reporting ty charili89 app15cable lo charllies
preparing ihelr nnanclal statements Sn accord8nco wlih the Flnancial Reportlng Stsndard applicable In th8 UK
and Republic ol Ireland (FRS 102).
I hav8 no concem8 and have come across no olher mattern in connectSon wllh Ihe examination lo whlch allenllon
should be drawn in this report In order lo enable a proper understanding of the fin8no81 gl•temenl$ to be reached.
Caroline Brazler ACA DChA
Cansdales Buslne5s Advisers Limited
Chartered Accounlan15
Sl Mary's Court
The Broadway
Old Amersham
Bucks
HP7 OUT
Dated: 21 Juty 2025

THE WELLS TRUST
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDrruRE ACCOUNT
FOR THE YEAR ENDED 28 FEBRUAR Y 2025 ',
Unro8trl¢ted '. Deslgnatèd Restrfctad
fund8 ,
funds
fund8
Total
2025
Total
2024
Notss
Donallons and legacles
Charftsble acttvltla8
84272 '
29,808 '.
50,038
134,310
29.808
209,620
39,760
Tolal Incom•
114.080, ,
50,038
164,118
249,380
Charftable acwvlties
116,840 '.
3,088
135,874
255,782
208,424
Nel (outgolno)Ilneomlng resour¢e8 before
transfers
(2.78D)',
(3,068)
(85,836)
(91.684)
40,958
Gro￿ transfers between funds
(3.068),
3,088
M•t mov•m•nl In lund8
(5.828),,
(85,83e)
(91,664)
40,958
Fund balance8 at 1 Mar¢h 2024
103.667 1
97,721
201.388
180,432
Fund balanceÉ at 28 Fobruary 2025
97,839
11,885
109,724
201,388
The ststement cf financlal aCt{￿tIeS Indud?8 all galns and losse8 recogn18ed In the year.
The slat•mant of ffinancl81 •dlvllles Include8 811 galng 8nd105gag rncoonls•d In the ye8r. All Income and expendlture
dorlve from continulng acuvltles.
The statsment of Ilnanclal actlvlUe8 a180 complloB wilh Iheir8qulr8ments for an Income and 8xp8ndltur8 account
under the Companle8 Act 2008.

## **THE WELLS TRUST** 

## **BALANCE SHEET** 

## _**AS AT 28 FEBRUARY 2025**_ 

|||**2025**|||**2024**||
|---|---|---|---|---|---|---|
||**Notes**|**£**|**£**|**£**||**£**|
|**Fixed assets**|||||||
|Tangible assets|**10**||54,719|||54,553|
|**Current assets**|||||||
|Debtors|**11**|7,600||9,985|||
|Cash at bank and in hand||50,424||139,550|||
|||58,024||149,535|||
|**Creditors: amounts falling due within**|||||||
|**one year**|**12**|(3,019)||(2,700)|||
|Net current assets|||55,005|||146,835|
|**Total assets less current liabilities**|||109,724|||201,388|
|**Income funds**|||||||
|Restricted funds|**14**||11,885|||97,721|
|Unrestricted funds|||97,839|||103,667|
||||109,724|||201,388|



The notes on pages 8 to 16 form part of these financial statements. 

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 28 February 2025 

The directors acknowledge their responsibilities for: 

- ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and 

- preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company. 

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476. 

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime. 

The financial statements were approved by the Trustees on 21 July 2025. 

.............................. 

Caroline Boxall **Trustee** 

**Company registration number 05049817** 

- 7 - 



THE WELLS TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2025
Accounting poll¢les
Charlty Inforniatlon
The charity Is a charilable company Ilmlted by guarantee and is incorpor8ted in the United Kingdom. Th8
Gompanvs registerBd number and registered office addres5 Gan b& found on the Company Infomiation page.
1.1 Accounting convention
The financial statements have iEen prepared in accordance wlth the charTVs governing docum8rrt, th8
Companies Act 2006. FRS 102 The Financial Reports'ng Standard ap￿Il?b1e in th8 UK and Republic of
Ireland. fFRS 102°) and the Chariknos SORP °Accounting and Reporting ty Chartties: Staiemant of
Recommended Practi￿ applicable to ¢harilies preparing their a(xounts in accordance with the Flnanclal
Reporting Standard applicable In the UK and Republic of Ireland [FRS 102>" (èffectvie 1 January 2019). The
charlty Is a PubllG Benefit Enuty as d8ffin8d by FRS 102.
The financval statements are prepared In stertkng. whith is the functtonal currency of the charily. Mon8tary
amounts in the88 financiat statements are rO￿ded lo Ihe nearest £.
The financlal stalements have been prepar&1 under the historical o)st convantion. The prfndpal accounting .
policles adopted are set out below.
1.2 Going concern
The trustees (who are the chaTitable companVs ijrectors for Ihe purposes of company law) have as883sad
whether the use of tha going concem basis is appropiiate and have considered possible events or condltlons
that tnight cast slgnlficanl doubt on ihe abilty of the charity to continu8 as a g￿ng concem. The Irustses have
made this assessment for a period of at least one year from the data of approval of the flnanclal statements.
In part[￿lar the trustees have consider8d Ihe charitys forecasts and projections and the possible implications
should projected income and l or expenditure vary unexpectedly. The trustaes have concluded Ihal there Is a
reasonable expectation that the charity has adequate iesource5 to continue lo operate for the foreseeable
fiJtur8. The charity th8r8fora conllnu8s to adopt the golng conc8m basis in preparing ts financial statem8nts.
1.3 Charltable funds
General funds are unrestricted funds which are avaHabl8 for use at lh8 dlscretion of the truslees In furtherdnce
of the general objedives of Ihe charity. D6￿gnated funds comprfse unr8slrfctsd funds thal have been set
aside by th8 trustees for partlcular purposes. Restricted funds are donations wh￿h are to be used in
accordance with speafic restrictians imposed by don0[5: they include donations rec8i¥8d from appeals for
speclflc actlvities or projects.
1.4 Income
Income including investment hcome is rec4)gnlsed 1n.the perfod n Ythich 1he charity belxmes entitled to
receipt, the amount receivable can be measured WIUI reasonable certainty, and receipt is probable. For the
most part. incoma is generally recognis8d vdhen il is received. Income is only delerred when Ihe charity has to
fulfil conrfitions before becoTning enlilled to it ￿ where the donor has specified Ihat the income 15 to be
expended w] a future period.
Income from donattons and legacies Includes:
l) Recover8ble glft aid. Thls 15 recognlsed when the related donation Is recelved. Gift aid thal has not been
recovered by th8 balance shaet dalo is Included as a dgbtor.
ii) Legades. Income from legacie5 is recognised when a distributron is received from th& estatè or. If earlier.
when thè charity has been notified that a distribution,will be mad8 and th8 amount recelvable can b6
measured rellably.
The charity relle5 on volunteer5 to carry out many of Its adlvltl8s. However. In accordance wlth the SORP, the
value of these 8errfice8 has not been induded h these financial ststements as they cannot be reliably
measured.

THE WELLS TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUAR Y 2025
Accountlng pollcles
IContlnu8d)
1.5 Expendlture
Expenditure, including irrecoverable VAT, is recognised when it is Incurred or. If 6arll8r, when a legal or
constructive obligalion for a payThent arises provrded that il is probable that settlement will be requlred and Ihe
amount of the obligation can bB rneasured reliably.
The charity makes grants to other Instttutiorrs and individuals to further its tharilable objeclives. Grants
payable are recognised as construclive obllgallons arlse. which is generally when the charity expresses
commltment to the reclplent that can be mèasured rellably and then onty to the extent that any condlllons
associated Yiith thè granl are outslde of the control of the charity.
The cost of ralsing funds Is not significant and ha5 not been separately dlsd05ed.
Gov8rnanc8 costs, which are included in expenditure on charitable adivives but are Identlfied separalety in
the notes to the accounts, includes costs associated wilh the independent examination of the finanBlal
statements. compllance wllh constitLrtlonal and slalulory requirem8nls arid any other expendilure incurred on
thp slrategic management of the charlty.
Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the trustees in furtherance
of the general objectives of the charity. Designated funds cumprise unrestricted funds Ihat have been Set
asida by tha trustees for partlcular purpDse8. Reslrict8d funds are donalions which are to be used in
accordance with specific r8slrictions Imposed by donors: they Include donations received from 8ppeals for
specific actlvlues or prolects.
1.6 Tangible fKxed assets
Items purchased or donated for the charitys own use are capltallsed whèn the cost of purchased It8ms, or th8
falr value of donated Items, Is more Ihan £500 and the ltsm is expected to benefit the charity over rnora than
one accounting period. Depreciation is charged on e stralght Ilne basls so as to wrfte down the value of each
asset to its estimated residual value (if any) over its expBcted useful economic life. To achleve Ihis obleclive
the following rates of depreciation are charged".
Freehold Land
Freehold Buildlngs
Is not depr8clated (becau88 it is not con8um8d by use)
Over 50 years after taklng attount of th& bulldlng's rèsldu81
value
Over 3 to 7 years
Equipment
The carrying values of tangible fixed assets are rev[￿ed for Impalrrnent In perlods when events or changes In
clrcum51ances Indlcata Ihat the carryin9 value may not be recoverable.
1.7 Taxation
The company is 8 regislered charity; It has tsken advantage of the varlous rellefs from taxallon avallable lo
charllles and no tax ts payable on Ihe charltWs Income.
1.8 Exemptlon from prFparlng a cashfl(Ni statement
Th8 charity has taken 8dv8ntage of an exemption conferred by the Charities SORP and has not prepared
cash flow statemenL
1.9 Panslon Scheme Arrangements
The charity operates defined Contrfbutlon penslon schemes for Its employeès. Obllgatlons for contrlbutlons to
these schemes are recognlsed as an expense when the liabilty arisas. The assets of thes? schemes are held
separately from Ihose of the charity In Independently admlnlstered funds.

THE WELLS TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY2025
Crlllcal a¢¢ountlng estimatos and Jud9ementS
In th& appli￿tiOn of lh8 charity's accountlng policies, the Tnjslees are required to makg judgements.
estimates and assumptions about the carrying amount of assets and liabiliti8s that are not readily apparent
from othar sources. The eslimates and assoclated assumptlDns are based on historlcal axperf8nce and oth8r
factors that are considered to be relevant. Actual resulis may differ from these estimales.
The estlmates and underfytng assumpllons are revlewed on an ongoing basls. Revisions lo accounllng
esthmales are recognlsed In the period in whlch the eslimale15 revised where the revlslon affects only that
period, or in the period of the revision and future periods where the revision affects both current and future
perlods.
Donatlons and legacies
Unrestrlcted Restrlctad
funds
funds
Total
Total
2025
2025
2025
2024
Donations and glfts
Gift Aid Tax Recoverab18
Olher Donatlons
56,105
10,246
17,921
583
146
49.309
56.688
10,392
67.230
55,894
9.965
143,761
84,272
50.038
134,310
209,620
Charltable actlvltles
2025
2024
Rental Income
Other Income
28,792
1,016
37,337
2,423
29.808
39,760
10-

THE WELLS TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2025
Charftable actlvllles
2025
2024
staff coslg
DBpreciakn'on and impainn8nl
Church Activities
Buildlng Cost
Donaltons and glfts
Subscriptions
Conferences
Training
Gov8Tnance (Indep8ndent examination f985)
Travel and hospllality
Office costs
80,206
3,625
31.743
19,883
12.331
1,827
210
4.959
2.808
1.574
11.405
114,866
9.480
37.934
15.021
10.061
1,619
87
6,291
2.648
2.258
8,159
170.571
208,424
Grant to Step Out
85.211
255.782
208.424
Analysls by fund
Unrestricted funds
Daslgnal8d Funds
Restricted funds
116,840
3.068
135.874
129,883
5,750
72.811
255.782
208N24
Donatlons and glfts
2025
2024
Mlsslon support
12,331
10.061
12.331
8.538
Th8 maln benaltclarles of the grants madg to Instituuons and
Individual were:
2025
2024
Mr & Mr5 PrlGe Gift
l-Net
Gifts to individual
1.200
6.930
4,201
1.200
e.870
1.991
12.331
10.061
11

THE WELLS TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2025
Net movement In funds
2025
2024
The nel movament In funds Is slated after chargingl{creditlng>:
Depreciation of owned tanglble fixed assets
3,625
9.480
Employees
The averdge rnonthly number of employee5 during Ihe yèar was:
2025
Number
2024
Number
Employment costs
2025
2024
Waoes and salarfes
Soclal security costs
Penslon costs
78,263
468
1,475
110,996
1,983
1.887
80.206
114,866
Durlng the year, total remuneratlon pald to key management for tsvo employees tolall8d £48,486 (2024: two
employees amounted to £45,161).
Ther8 w8r8 no employeès whosg annual remunerallon was more than £60.000.
Taxatlon
Th8 charfty Is exempl from taxatlon on Ils actlvltlas bécause all its Inctsme ts applled for charltabla purposes.
12-

THE WELLS TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY2025
10 Tanglblo flxed assets
Froohatd land Fixturès aftd Computérn
arnl bulldlng¥
flttlngs
Cost
At 1 March 2024
Addlt'ons
176,350
21.448
1922
15.132
212,930
3,791
At 28 February 2025
176,350
24.370
16,001
216,721
DepreGiatlon and Impalrn￿nl
At 1 March 2024
Depredatton charged in tho yaar
126,004
3.068
21,448
117
1D,925
440
158,377
3.625
At 28 February 2025
129,072
21.565
11,365
162.002
Carylny amount
At 28 February 2025
47,278
2.805
4,636
54,719
At 29 February 2024
50,346
4,207
54.553
11 Debtorn
2025
2024
Amounts falllng due wllhln one year:
Trade debtors
Payee account receivable
Tax Recoverable
Prepayments and accrued Income
1.769
421
983
4.427
2.022
3.997
3.966
7,600
9.985
12 Credliors: amounts lalllng due wlthln ono ye¥
2025
2024
Other cr8dltors
Arxwals and deferred Income
211
2,808
2,700
3,019
1700
13 Rotlrement beneflt schemes
2025
2024
Defined Gontribution schenRs
Charge to profit or loss In respect of dellned contrlbuuon schemos
1,475
1,887
13-

THE WELLS TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2025
13 Rotlrement benofit scham•s
(Continued)
The charity operates a defined contributlon penslon sth8me for all qualifylng employees. The assets of the
Scheme are held separately from Ihose of the charity in an Independenuy a(knlnlslered fund.
14-

THE WELLS TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUAR Y 2025
14 Restrlcted funds
The restricted frjnds of the charity ttjmprise the unexpended balances of donations and grants held on trust subjecl to specific Mndllions by donors as to how they may
be used.
Movèrngnt In funds
In¢omlng
Rosourc•s
rosouroos •xp•nd4d
Movoment In funds
Incomlng
Ro8ourc•s
r•Bouroo8
o¥p•nd8d
8al?nco 4t
1 March 2023
Tr•n$fors
Transfvrn
Balan¢0 at
28 F•bwary
2fr25
1 March 2024
Reach London
Step Out
Starhvell
Building Proj&ct
Wo118oing
2,718
127,148
(2.359)
(67.684) (26,115)
(2,768)
4,673
3.215
1,323
91.278
1,905
3,216
2,340
45.093
314,
(2.718)
(129.866)
(1,649)
945
6.505
570
3,215
650
56.929
2,291
(1.641)
67,893
129.866
(72,811 > (17,227)
97,721
50,038
(135.874)
11.885
Reach Londen - Spedfic glvlng towards 8 mlnlstry lo connect churches across London whlch Is led by an employee.
step Out- Spedfic givinglgrants towards a mlnislry for childrens mentoringi which Is now a separata reglstered charity. Grants Include from the City Bridge Foundatlon.
$tsrtw8ll- Startwell Is a mother and baby Gommunity group wlth free b￿asffeedffing supporL
Bulldlng ProJecl- the buildlng prDj8Ct,relates to renovation of the old chapèl and maln bulldlng.
Wo11 Being -specific givinglgrdnt to Improve the physical and mental wellbeing of lo￿1 people.
15-