COMPANY REGISTRATION NUMBER: 7253471 CHARITY REGISTRATION NUMBER: 1136403 The Well Church London Company Limited by Guarantee Unaudited Financial Statements 31 May 2024 ROBINSONS CONSULTING LIMITED Chartered accountants 5 Underwood Street London N17LY
The Well Church London Company Limitad by Guarantee Flnancial Statements Year ended 31 May 2024 Page Trustees, annual report (incorporating the directorfs report) Independent examiner's report to the trustees Statement of financial activities (including income and expenditure account) statement of financial position Notes to the financial statements
The Well Church London Company Limited by Guarantee Trustees, Annual Report (Incorporatlng the Directorfs Report) Year ended 31 May 2024 The truste8s. who are 81so the dir8Ctors for the purposes of company law. presénl th8ir report and the unaudited financial statements of the charity for the year ended 31 May 2024. Reference and administrallve detalls Registgred charity namo The Well Church London Charity registration number 1136403 Company reglstratlon number 7253471 Principal offlce and registered 36A Penton Street office N19QA London The trustees Clive Sharp6 Sarah-Jane Elizabeth Pope Colin Wilkinson Independent examiner Robinsons Consulting Limited 5 Underwood Slreet London N17LY Structure, govèrnance and management The Charity is constituted as a company limited by guarantee, and is therefore governed by a Memorandum and ArtiGles of Association.
The Well Church London Company Limited by Guarantee Trustees. Annual Report (Incorporatlng the Dlrector's Report) (contlnuedl Year ended 31 May 2024 Objectives and activities The primary aims of the Church are lo provide support and teaching in the Christian faith to those within the Church, and locality and. where possible, to show practical care and bring the love of Christ to the community. In planning the activities of the charity, the trustees have given consideration to the guidance on public benefit issued by the charity Commission in Oecember 2008 in particular that: a) There are identifiable benefits b) Benefits are to the public or a séction of the public c) That the benefits relate closely to the charitable obje¢lives The Church is not a building, bul a gathering of ordinary people of different ages and backgrounds, whose lives have been changed by Jesus Christ, Ihe Son of God. The New Testament reveals the Church as a community of people, properfy taught and cared for who by lovlng and serving Jesus Christ, were also Committed to love and care for each other and to bring a blessing to the area in which they live. The Well Church, it's trustees, Leader and members are committed io the restoration of those New Testament principles. It is not alone in this, it is one of many churches in the area. country and all over the world that is re-discovering knowing Jesus Christ. The vision is to see the people of Islinglon come to know Jesus as their Lord and Savior. Everyone in the Church is encouraged to be involved in helping the church achieve its great commission. This is done by "being salt and light" among the people they interact with every day.. by praying for them or with them, by calling in on the sick or others in need, being involved in training others. in adminislralion and in worship. The financial resources of the church are given by the members and also thèir prtvatè assets and equipment ar8 regularly usèd in the work ol the church, thou much ol the work is done privately and without recognition, the hours and value of time cannot be quantified.
The Well Church London Company Limited by Guarantee Trustees, Annual Report (Incorporatlng the Dlrector's Report) (continued) Year ended 31 May 2024 Achievements and performance 1) We meet in The Vu8 Cin8ma on Sundays and online for worship, guidance, support and Communily 40 to 50 adults wilh a total membership over 60 in all have been attending. 2) We have many after church acttvitiès, for all ages including Men & Ladies day wtth teaching. help, advice. encouragement and support. 3> The Well is committed to growing people in life skills, there are currently 5 Irfe groups and a youth group that meet during the week, all groups are well attended. 4) Our sister Church in Basiklon Essex that mirrors all the work we do in Islington continue to thrive. There arè 35 peop18 involved and attending all we do. S) We ran two Alpha courses throughout the year, one in Islington and one in Basildon. Both courses saw people growing in lrfe skills, making new friends with others in the community. learning life skills and growing in their ability to communicate and build relalionships well. We run other ministry courses. 6) We are committed to growing people in leadership skills. with many one-tothone meetings. During the year we continue to take leaders to various leadership Conferences held at different venues in the UK. 7) This year in Basildon we ran a 5 day family event where we had greal teaching, fellowship and workshops to help people from all ages grow in confidence and skills Ihal would help them achieve well in life. We had approximately 100 people attending. 8) The Well Church, is helping to grow a hub of so far 5 Churche5 in London and beyond to help encourage, support and work together in all we do. 91 The Well Church has grown contacts in Odisha India with 'The Well Ministries India. working amorig the poor and marginalised providing basic clothing, audio bibles with help and advice for a better life. Clive & Debs went out there to build relationship and gather 11 Pastors. As the ministry is expanding. We also promded a water well for one of Ihe vlllages who had no fresh waler before. 101 We h8ve continued to help support Junction 42 a charity that works with getting employment lor ex-offenders. 11) Tho Well Church, continue to minister to inmates in Pentonville Prison. 12) Financial review Income for 2023124 was £111,230. Plans for future periods The key strategies for the church remain the same. Our focus for this forthcoming year Is to develop our relationship with the community through the projects and activities mentioned above. Flnanclal review Income for 2023124 was £111,230.
The Well Church London Company Limited by Guarantee Trustees. Annual Report (Incorporating the Dlrector's Report) (¢ontlnuedJ Year ended 31 May 2024 Plans for future periods The key strategies for the chur¢h r8main the same. Our focus for this forthcoming yéar is to develop our r8lationship wlth the Community through the projects and activities mentioned above. Small company provisions This report has been prepared in accordance with the provislons applicable to companies entided to the small companies exemption. The trustees, annual report was approved on 20 December 2024 and signed on behalf of the board of trustees by.. SECURELY 2QIIIY024 ai 10 35..58 UTe Clive Sharpe Trustee
The Well Church London Company Llmltsd by Guarantee Independent Examinerfs Report to the Trustees of The Well Church London Year ended 31 May 2024 I report to tha Injsleps on my examination of the finandal sialements of The Well Church London {'the charty) for the year ended 31 May 2024. RèBponsibilities and basis of report As the Iruslees of the rnPany land also ils dirèctors for the purpD5es of company 18w} you are responsible lor the preparation ol Ihe financial slalemenls in acccrfdance wth the requirements of th8 Companles Act 20061.ihe 2006 Act'i. Having satssfied myself that the accounts of the company 8fe not Tequired lo be audited under Part 16 of the 2006 Act and are eligible for indepéndènt examination, I report in respect of my examination of the oharity's accounts as Garried out under seciton 145 of Ihe Charities A¢1 2011 {'Ihe 2Q11 ACVI. In carryiro Obt my examinabon I have followed the DirectlQllS given by thè Charity Commission under section 144151(bl of the 2011 Act. IndendTrt examiner's statement I have completed my examlnatson. I confimi that no malters ha ¢ome to my attenlt)n In connection wilh the examiftalion ging me cause to beli&ve- accounting records weTe not kept in respect of the charity as Trquired by section 386 of the 2006 Act: or the financial slalements do not accord wllh those rècords; or the finigncFal stalemenls do not Gorr*ply with the accounting requsremenls of seclion 396 of the 2006 Act other than any requirernent that the accounts give a 'lrue and faiV vi?w whioh is nol a matter consldored as part of an independent examination., or Ihe financial slatement5 have not been prepared In accordance th the mtrthods and prindples of the Stalemenl of Recommended Practic8 for accounting and reporting by charities applicable to Gharilies preparing thelr aGcounts in aecordance wilh the Financial Reporting Stsndard appliG¥ble in the UK and R&pubilG of Ireland IFRS 1021. I have no concerns and have comfj across no other matters in connection with the exaTriinaliot) lo ich attenllon should be drawn In Ihis report order to enable a proper understanding of ll)e accounts lo be reached. Jogeph Roblrrson FCCA ROBINSONS CONSULTING LIMITED Chartered Accountants 5 Underwood Street London N17LY
The Well Church London Company Limited by Guarantee Statement of Financial Activities (including income and expenditure account) Year ended 31 May 2024 2024 Unrestricted funds Totsl funds Totsl funds 2023 Note Income and endowments Donations and legacies Investment income 106,200 5.030 106,200 5,030 111,230 104.723 3,318 Total Income 111,230 108,041 Expenditure Expenditure on charitab18 aclivities Olher expenditure Total expenditure 103,319 2,020 103,319 2.020 97.534 1,204 10 105,339 105.339 98,738 Net income and nel movemont in funds 5.891 5.891 9,303 Reconciliation of funds Total funds brought forward Total funds carried forward 119,915 125,806 119,915 125,806 110,612 119.g15 The statement of financi81 activities includes all gains and losses recognis8d in the year. All income and expenditure derive from continuing aclivilies. The notes on pages 8 to 14 fomi part of the68 financlal statements.
The Well Church London Company Limited by Guarantee ststement of Flnancial Position 31 May 2024 2024 2023 Note Fixed assets Tangible fixed asséts Investmenls 15 16 6,724 63,685 8.965 63,685 70.409 72,650 Current assets Debtors Cash at bank and in hand 17 7,464 48,689 56.153 6,569 41,452 48,021 Credltors: amounts falling due withln one year Net current assets 18 756 756 55,397 125,806 125,806 47.265 Total assets less curront liabllltle$ 119,915 Net assets 119,915 Funds of the charlty Unrestricted funds 125.806 125,806 119.915 119,915 Total charity funds 19 For the year ending 31 May 2024 the charity was entilled to exemption from audit under sedion 477 of the Companies Act 2006 relaling to small companies. Trustees, responsibilities: 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: The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements. These flnanclal statements have been prepared In accordance wilh the provisions applicable to companies subject to the small companies. regime. These financial statements were approved by the board of trustees and authorised for issue on 20 December 2024, and are sigr)8d on behalf of the board by: $GNE secvRELY IW1024 at 1U.JS-.SSAII UTC Clive Sharpe Trustee The notes on pages 8 to 14 form part of these financial statements.
The Well Church London Company Limited by Guarantee Notes to the Financlal Statements Year ended 31 May 2024 General infomiation The charity Is a public benefit entity and a privat6 company limited by guarantee. regislered in England and Wales and a regislered charity in England and Wales. The address of Ihe registered office is 36A Penlon Street, Nl 9QA. London, statement of compliance These financial stalements have been prepared in compliance With FRS 102, The Financial Reporting Standard applicable in the UK and the Republic of Ireland,, the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102) (Charities SORP {FRS 102)) and the Companies Act 2006. Accountin9 policies Basis of preparation The financial statements have been prepared on th8 historical cost basis. The financial statements are prepared In sterling. which is the functional currency of the entity- Going concern There are no material uncertainties about the charitys abilty lo continue. Disclosure oxempiions The company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by the FRS 102 "The Financial Reporting Standard appllcable in the UK and Republic of Ireland.: {a} No cash flow statement has been presented for the company. (bl Disclosures in respect of financial instruments have not been presented. Fund accounting Unrestricted fvnds are donation5 and other income received or generated for the objects of the charity without specified purpose and are available for the purposes as directed by the trustees. Restricted funds are amounts received where the donor has speGified the purpose for which they should be used. Incomlng rèsourcès Donated income is taken Into account when received by the charity. Income received in clrcumstances where a claim for repayment of tax ha5 been made to HM revenue & Customs but not yet received is shown within charities debtors. Olher income is taken into account when receivable.
The Well Church London Company Llmitad by Guarantee Notes to the Financlal Statements (continu) Year ended 31 May 2024 Accounting policies (eonllnued) Resources expended Expenditure, including irrecoverable VAT, when incurred by the charity. r8gardl6ss of when the payment was made. Tangible assèts All fixed assets are initially recorded at cost. Depreclatlon Depreciation Is calculated so as to write off the cost or valuation of Sn asset. less its residual value, over the useful economic lrfe of that asset as follows: Motor Vehicles Office Equipment 25DA reducing balance 25 1 reducing balance Investments Unllsted equlty investments are inilially recorded at cost. and subsequently measured at fair value. If fair value cannot be reliably measured, assets are measured at cost less impaiment. Listed investments are measured at fair value with changes in fair value being recognised in income or expenditure. Investment proporty Investment propety is inltially recorded at cost. which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at eaoh reporting date and any changes in fair value are recognised in income or expendilura. If a reliable measure of fair value is no longer available without unduo Cost or effort for an Item of investment propety. it shall be transferred to tangible assets and treated as such until it is expected that fair value will be reliably measurable on an on-going basis. Impaimient of flxed assets A réview for indicators of impairment is carrted out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the Garrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviowed for P0S5ible reversal at each reporting date.
The Well Church London Company Limited by Guarantee Notes to the Financlal Statements (continued) Year ended 31 May 2024 Accounting policies (¢onllrJuerl) Flnancial instrument$ A financial asset or a financial liability is recognised only when the entity becomes a party to thè contractual provisions of the instrument. Basic financial instrumenls are initially recognised at Ihe amount receivable or payable induding any relaled transaction costs, unless the arrangement constitutes 8 financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Current assets and current liabilities are subsequentty measured at the cash or othar consideration expected lo be paid or recéived and nol discounted. Debt inslnjments are subsequently measured at amortised cost. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impaiment at th6 end of each reporting dale. If theré is objective evidence of impaimient. an impaiTment loss is recognised under the appropriate heading in the statement of financial activities in which the initlal gain was recognised. For all equity instruments regardless of significance. and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are eilher assessed individually or grouped on the basi5 of similar credit risk Characteristics. Any reversals of impairnient are recognised immediately. lo the extent that the revetsal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised. Limited by guarantee The company is a charilable company limited by guarantee. Oonations Unrestricted Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 Donations Donations 106,200 106,200 104,723 104,723 10-
The Well Church London Company Limited by Guarantee Notes to the Flnancial Statements (continued) Year ended 31 May 2024 Investment income Unrestricted Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 Income from investment propertl8S Bank interest receivable Other interest receivable 4,965 65 4,965 65 2,000 118 1,200 2,000 118 1.200 5,030 5,030 3,318 3,318 Expendlture on charitable actlvities by fund typo Unrestricted Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 Direct charitable aclivities Support costs 76,641 26,678 76.641 26,678 103,319 60,448 37,086 60.448 37.086 103,319 97,534 97.534 Expenditure on charltable activitlos by actlvlty type Activities undertaken directly Support costs Total funds 2024 Totsl fund 2023 Direct charitable activities Govemance Gosts 76,641 76,641 26,678 60,448 37,086 26,878 76,641 26.678 103.319 97.534 Analysis of support costs Total 2024 Total 2023 Govern8n¢g Gosls 756 756 10. Other expendltura Unrestricted Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 Training 2,020 2,020 1,204 1.204 11
The Well Church London Company Limited by Guarantee Notes to the Flnancial Statements leontinued) Year ended 31 May 2024 11. Net income Net income is slated after chargingl(crediting}: 2024 2023 Depreciation of tsngible fixed assets 2,241 2,989 12. Independent examination fees 2024 2023 Fees payable to the independent examiner for. Independent examination of th8 financial statements 756 756 13. Staff costs The average head count of employees during the year was Nil12023- Nil). No employee received employee benefits of more than £60,000 during the year (2023.. Nil). 14. Trustee remuneration and èxpenses No remuneration or other beneflts from employment with the charity or a related entity were received by the trustees. 15. Tangible fixed assets Motor vehicles Office Equipment Total Cost At 1 June 2023 and 31 May 2024 Depreclatlon At 1 June 2023 Charge for the year At 31 May 2024 9.394 7,175 16,569 2,349 1.761 5,255 480 7,604 2,241 4.110 5.735 9,845 Carrylng amount At 31 May 2024 At 31 May 2023 5.284 1.440 6,724 7,045 1,920 8,965 -12-
The Well Church London Company Limited by Guarantee Notes to the Financial Statements (eontinuedj Year ended 31 May 2024 16. Investments Investment properties Cost or valuation At 1 June 2023 and 31 May 2024 Impairment At 1 June 2023 and 31 May 2024 Carrylng amount At 31 May 2024 At 31 May 2023 63,685 63,685 63.685 All investments shown above are held at valuation. 17. Debtors 2024 2023 Accrued income Other debtors 7,064 400 6,069 500 7,464 6,569 18. Creditor5: amounts falllng due wlthin one year 2024 2023 Accruals 756 756 19. Analysls of charftable funds Unrestricted funds At 1 June 2023 At Income Expenditure 31 May 2024 General funds 119,915 111,230 {105,339} 125,806 At 1 June 2022 At Income Expenditure 31 May 2023 General fvnds 110,612 108,041 (98.738) 119,915 13-
The Well Church London Company Limlted by Guarantee Notes to the Financial Statements (continu8d) Year ended 31 May 2024 20. Analysis of net assets between funds Unrestricted Totsl Funds Funds 2024 Tangible fixed assets Current assets Creditors less than 1 year 70,409 56,153 {7561 70,409 56,153 (756) 125,806 Net assets 125.806 Unrestricted Total Funds Funds 2023 Tangible fixed assets Current assets Creditors less than 1 year Net assets 72.650 48,021 {7561 119,915 72.650 48,021 {756) 119,915 14-