2021-03-31-accounts - Wellsprings Community Church

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Contents		Page
Company information Directors' Report		2 3-6
Independent Examiner's	Report	7
Statement of Financial Activities		8
Balance Sheet		9
Notes to the Accounts		10-16
Detailed Statement of Financial Activities with Comparatives		17

					Total	Total
			Unrestdcted	Restricted	Funds	Funds
			Funds	Funds	2021	2020
		Note	6		6	6
INCOME AND ENDOWMENTS	FROM:
Donations and legacies		3	88,288	9,572	97,860	187,143
Charitable activities		4	1,151		1,151	2,388
Investments		5	3		3	1,025
Total income and endowments			89,442	9,572	99,014	190,556
EXPENDITURE ON:
Charitable activities:		6	55,113	14,016	69,129	146,711
Total expenditure			55,113	14,016	69,129	146,711
Net income/(expenditure)			34,329	(4,444)	29,885	43,845
Transfers between funds		15	(26,000)	26,000
Net movement in funds			8,329	21,556	29,885	43,845
Reconciliation offunds:
Total funds brought forward			402,903	350,679	753,582	709,737
Total funds carried forward		15	411,232	372,235	783,467	753,582

		ASAT3	1MARCH 2021
					Total		Total
			Unrestricted	Restncted	Funds		FU11cls
		Note	Funds f	Fundsf	2021f		2020 E
FIXEDASSETS
Tangible assets		8	399,285	375,549	774,834		783,432
			399,285	375,549	774,834		783,432
CURRENT ASSETS
Debtors		9	3,047		3,047		6,387
Cash at bank and in hand		10	19,212	4,686	23,898		41,157
			22,259	4,686	26,945		47,544
CREDITORS: Amounts	falling
due within one year		11	3,012	2,000	5,012		37,234
Net current assets/(liabilities)			19247	2 686	21933		10310
Total assets less current liabilities			418,532	378,235	796,767		793,742
CREDITORS: Amounts	falling due	12	(7,300)	(6,000)	(13,300)		(40,160)
after more than one year
TOTAL NET ASSETS			411,232	372,235	783,467		753,582
FUND BAlANCES		15
Unrestricted Funds
General funds			11,947		11,947	—	975
Designated funds			399,285		399,285		403,878
			411,232		411,232		402,903
Restricted Funds				372235	372 235		350 679
			411,232	372,235	783,467		753,582

3	Donations and	legacies
					Unrestricted	Restricted	Total	Tote I
					Funds	Fuit cia	2021	2020
					E	6	6	6
	Donations				72,779	7,960	80,739	105,664
	Other grants receivable							57,300
	Legacies receivable							5,704
	Income tax	recoverable			15,509	1,612	17,121	18,475
						9,572	97,860	187,143
	Donations	in 2019/20		included	afixed asset donated to the charity valued at 62 199.There were no fixed			asset
	in 2020/21.
4	Income from charitable		activities
					Unrestricted	Restricted	Total	Total
					Funds	Funds	2021	2020
					6	6	E	6
	Community	outreach		programs	1,151		1,151	2,388
					1,151		1,151	2,388
5	Investment income
					Unrestricted	Restricted	Total	Total
					Funds	Funds	2021	2020
					6	6	6	6
	Bank interest				3		3	1,025

6	Chadtable expend	iture
											Unrestricted		Restricted			Total	Tota I
												Funds		F antis		2021	2020
													6		6	E	E
a	Costs incurred directly		on		specific		activities
	Salaries, travel and expenses										25,835					25,835	24,055
	Telephone, stationery				and utilities							3933				3933	2,409
	Gifts to speakers																120
	Maintenance											5,118		(123)		4,995	2,294
	Youth activities and			clubs								430				430	1,186
	Local outreach	activities										1,378				1,378	2213
	Other running	costs										2,652				2,652	5,060
	Grants payable (note				6c)							8,411				8,411	9,998
	Refurbishment	of	chapel,			youth		hall &car park									91,229
											47 757			(123)		47 634	138564
b	Costs incurred on	support			&administration
	Governance costs
	Cost ofindependent				examination							780				780	1,250
	Bank loan interest		payable									560				560	611
	Depreciation	oftangible				fixed	assets					4,593		14,139		18,732	4,811
	Insurance											1,423				1,423	1,475
												7,356		14,139		21,495	8,147
	Total expenditure										55,113			14,016		69,129	146,711
C	Grants payable
													Institutions			Individuals	2021
															E	E	E
	Grants for UK	and	overseas mission											2,538		2,775	5,313
	Grants for the	relief		ofpoverty										2,548		550	3,098
														5,086		3,325	8,411
	The comparatives	forthe			previous		year areasfollows:
													Institutions			Individuals	2020
															6	E	E
	Grants for UK	and	overseas mission											4,375		2,000	6,375
	Grants for the	relief		ofpoverty										3,024		599	3,623
	Grants for education,				including			ministry	training
														7,399		2,599
	The charity's principal		grants to institutions						comprised:
																2021	2020
																6	E
	TearFund															700	700
	Wycliffe Bible Translators															888	1,000
	France Mission															925	1,025
	Grants to institutions				for	less than 61,000each										2,573	4,674
																5,086	7,399
7	Analysis ofstaff costs,		the		cost of key management					personnel	and trustee	remuneration		and	expenses
																2021	2020
																E	E
	Gross wages and salaries															16,480	16,244
	Social security															2,106	1,187
	Pension costs															4,306	4,140
	Other employment			costs												2,943	2,484
																25,835	24,055

					Employer
				Wages &	pension	2021
				salaries	contnbutions	E
Church Community		Worker
Michael	Tiffany			18 586	4306	22 892
following	amounts	were charged	in the previous year:
					Employer
				Wages &	pension	2020
				salaries	contributions	E
Church Community		Worker
Michael	Tiffany			17,431	4,140	21,571

					Fixtures,
			Freehold	Construction	fittings and	Tata I
			Property	in Progress	equipment	2021
			E	E	E	E
Cost
	At 5April	2020	743,450		83,912	827,362
	Transfers
	Additions				10,134	10,134
	Disposals
	At 31March 2021		743,450			837,496
Accumulated		depreciation
	At 5Apri	I 2020	39,822		4,108	43,930
	Charge forthe year		7,471		11,261	18,732
	Disposals
	At 31March 2021		47,293		15,369	62,662
Net	book value
	At 31March 2021		696,157		78,677	774,834
	At 5April	2020	703,628		79,804	783,432

Tax recoverable
Prepayments and accrued income

2021	2020
E	E
1,904	3,129
1,143	3,258
3,047	6,387

Cash at Bank and in	Hand		FOR THE YEAR ENDED 31	MARCH 2021
						2021	2020
						f	f
Cash at bank with immediate			access			23,627	40,082
Notice deposits	(with aterm		ofthree months orless)				921
Petty cash						271	154
						23,898	41,157
Creditors: liabilities	falling due within one year
						2021	2020
						f	f
Trade creditors						781	26,121
Taxation and social security
Accruals						891	2,307
Bank Loans						860	806
Member loans						2,000	8,000
						5,012	37,234
Creditors: amounts	falling due after more than one year
						2021	2020
						f	f
Bank Loan						7,300	8,160
Member loans	(see Note 16)					6,000	32,000
						13,300	40,160
Bank fk Member Loans
				Member	loans	Bankloans
				2021	2020	2021	2020
				f	f	f	f
Loans repayable by	instalments	falling due:
Within one year				2,000	8,000	860	806
Between one and five years				6,000	32,000	4,056	3,801
After five years						3,244	4,359
				8,000	40,000	8,160	8,966

During the	year th	e movements in the chanty's	funds were asfollo	ws:
			Opening	Incoming	Outgoing	Transfers	Closing
			balance	resources	resources	in the year	balance
			06.04.20	2021	2021	2021	31.3.21
			E	E	E	E	E
Unrestdicted	general funds		(975)	89,442	(50,520)	(26,000)	11,947
Designated	fixed asset fund		403,878		(4,593)		399,285
Total Unrestricted		Funds	402,903	89,442	(55,113)	(26,000)	411,232
Restricted Funds
Building	fund	for new extension	350,679	9,572	(14,016)	26,000	372,235
			350,679	9,572	(14,016)	26,000	372,235
Aggregate offunds			753,582	99,014	(69,129)		783,467

assets and li	abilities ofthe various funds were	asfollows:	asfollows:
		Unrestdicted		funds
		General	Designated		Restricted
		funds		funds	funds	2021
		E		E		E
Fixed assets				399,285	375,549	774,834
Debtors and	prepayments	3,047				3,047
Cash at bank	and in hand	19,212			4,686	23,898
Current liabilities		(3,012)			(2,000)	(5,012)
Non-current	liabilities	(7,300)			(6,000)	(13,300)
		11,947		399,285	372,235	783,467

In the previous yea	r the movements in the cha	rity's funds were as f	ollows:
		Opening	Incoming	Outgoing	Transfers	Closing
		balance	resources	resources	in the year	balance
		06.04.19	2020	2020	2020	5.4.20
		E	E	E	E	E
Unrestdicted general funds		57,377	66,294	(51,096)	(73,550)	(975)
Designated fixed asset fund		399,714		(4,386)	8,550	403,878
Total Unrestricted	Funds	457,091	66,294	(55,482)	(65,000)	402,903
Restricred Funds
Building fund	for new extension	252,646	124,262	(91,229)	65,000	350,679
Total Restdi cted Funds		252,646	124,262	(91,229)	65,000	350,679
Aggregate offunds		709,737	190,556	(146,711)		753,582

assets and li	abilities ofthe various funds were	asfollows:
		Unrestdicted	funds
		General	Designated	Restricted
		funds	funds	funds	31.3.21
		E	E	E	E
Fixed assets			403,878	379,554	783,432
Debtors and	prepayments	4,091		2,296	6,387
Cash at bank	and in hand	6,388		34,769	41,157
Current liabilities		(3,294)		(33,940)	(37,234)
Non-current	liabilities	(8,160)		(32,000)	(40,160)
		(975)	403,878	350,679	753,582

al commit	ment	s
											2021	2020
											E	E
Contracted	for	but	not	provided	for	by	the	balance	sheet	date		5,566

								Total	Tobd
		Unrestrictediunds.	General	Unrestricted funds-Designated		Restricted funds		Funds	Funds
		2021	2020	2021	2020	2021	2S	2022	2020
	Note	E	E	f	E		f	f	f
IHCOMEAHDENDDWMENTSFROMr'
Donations andlegacies	3	M2N	63,664			9,572	123,479	97,%0	187,143
Charitable activities	4	1,151	2,3M					1,151	2,3M
Investments	5	3	242				783	3	1,025
Totalincome and endowments		89,4I2	66,294			9,572	124,262	99,014	190,556
EXPENDITURE ONr'
Charitable activities:	6	50,727	51,096	4,386	4,386	14,016	92229	69,129	10i,711
TotalExpenditure		50,727	51,106	4,386	4,386	14016	91,229	69,129	146,711
Hetincome/(expenditure)		38,715	15,3l	(4,$)	(4,386)	(4,444)	33,033	29MS	43,M5
Transfersbetween funds	15	(26S)	(73550)		IIB	2ii,S	65,$
Hetmovementinlunds		12715	(58352)	(4$)	4164	21556	98033	29M5	43M5
Renmdliationoffmds:
Total funds broughtforward		(975)	57,377	403,878	399,714	350,679	252,646	753,582	709,737
Totalfundscarriedfonvard
	15	21,740	(975)	399,492	403,878	372,235	350,679	783,467	753,582