Wellsprings Community Church Report and Accounts year ended 31 March 2023 WELLSPRINGS COMMUNITY CHURCH FOR THE YEAR ENDED 31 MARCH 2023 COMPANY INFORMATION Olrectors / trustees Philip Henry Bedford Andrew Charles Heath-coleman Anthony Paul Lambert LaurentAnthony Boon Rebecca Louise Wood com￿nY Secretary Philip Henry Bedford Key staff Michael fiffany- Church Community Worker Governlng Document Memorandum and Articles of Association dated 17th February 2011, as amended 14 January 2019 Ire change of namel Company Reilstratlon Number 07533316 Charlty Registrntlon Number 1140895 Reg5stered Offic¢ 5 Hope Corner Lane Taunton TA2 7NU Independent Examiner Darren Warren FMAAT Poxton Independent Examiners 6 Alfred Street Rushden NNIO 6YS Bankers Lloyds Bank. Taunton Contents Company Information Directors, Report Independent Éxaminer's Report Statement of Financial Activitie5 Balance Sheet Notes to the Accounts Detailed Statement of Financial Activtties with Comparatives Page 9-15 16 WELLSPRINGS COMMUNITY CHURCH REPORT OF THE DIREcfoRS FOR THE YEAR ENDED 31 MARCH 2023 The directors, who are the charivs trustees for the purposes of charity law. have pleasure in submitting the Report and Accounts for the year. The company, initially called Wellsprings Chapel, was incorporated 17 February 2011, and became a registered charity 28 March 2011, taking over the net assets and undertaking of the trust, Wellsprings Chapel. including the church premises at Quantock Road property and the nearby house, 31 Quanto¢k Road, with effect from 6 April 2011. The name of the company was chan8ed by Special Resolution 14 January 2019 to Wellspring5 Community Church. Objects of the charity The charity is a charitable company and is governed by its memorandum and articles of association. The objects of the charity. as set out in the 8overnin8 document are: to advance the Christian faith in accordance with the Statement of Beliefs in such ways and in such parts of the United Kin8dom or the world as the Trustees from time to time may think fit to relieve sickne55 and financial hardship and to promote and preserve good health by the provision of funds. goods or services of any kind, includin8 throu8h the provision of care and support in such parts of the United Kingdom or the world as the Trustees from time to tlme may think fit to advance education in such ways and in such parts of the United Kingdom or the world as the Trustees from time to time may think fit to further such other purposes as are exclusively charitable under the laws of England and Wales as the trustees in their discretion from time to time determine. The trustees note that the Church is not a buildin& but a gathering of ordinary people of different ages and backgrounds, whose lives have been chan8ed by Jesus Christ. the Son of God. The New Testament reveals the Church as a community of people, properly taught and cared for, whom by lovin8 and serving Jesus Christ, were also committed to love and care for each other and to bring blessin8 to those they met and to the area in which they lived. Wellsprin85 Community Church,. its trustees, leaders and members are committed to the extension of God's Kingdom and the living out of Kingdom brinciples. It is not alone in this, it is one of many churches in the area, country and all over the world sharing the excitement of knowing Jesus Christ and making him known. The vision is to see the people of Taunton come into this experience of knowing Jesus as their Lord, Saviour and friend. Summary of the charivs main activities and achitvernents The liftin8 of the restrictions imposed as a result of COVID-19 meant that most of our 'normal' ctivities involving the physical use of the church premises started a8ain, although the number of volunteers able to commit their time had meant that some community ￿lated activities have not yet resumed. We were able to demonstrate the Christian faith in action by serving the community in which we operate in the following ways: Sunday morning services continued each week with the recorded service provided online the following week using Facebook and YouTube. In January 2023 we held an extraordinary church meetin8 to review how we mi8ht best meet the needs of an increasingly diverse group of folk in regular attendance on a Sunday moming. Following this. we introduced a new Style of Sunday service for each week based around an agreed 'theme' for that month. One of the weekly Home Groups merged with another Home Group and another Group chose to meet each week on the church premises. The weekly, 'Keep Connected at Wellsprings Community Church, that was started during the pandemic has continued and enables many in the church community to contribute matters for prayer and support. This also provides the whole church community with a Sense of corporate identity and provides a regular means of communication. The more 'informal church, monthly gathering on a Saturday moming, particularly for families in the local community, called Church Connect was unable to recommence during the year because of insufficient volunteers and human resources. The new style of Sunday services from February 2023 include one Sunday a month with a more informal 'café style. with seating around tables desi8ned for all a8es. The Friday night youth club and the Toddler Group meeting on Friday mornings have been well supported and appreciated by all those involved Because Wellsprin85 Community Church was at the heart of the local response to the coronavirus outbreak with our fulltime church community worker Imichael Tiffany, "Tiff I actin8 as the coordinator for the Wellsprings Area of the Coronavirus Community Help Taunton 8roup, many of those links have been continued with the WCC communSty café providing a valuable resource for the ongoing support of many lonely and vulnerable individuals. This has also allowed stronger links to be built with statutory organisations such as Village Agents, North Taunton Development Group and Spark Somerset as we have worked alongside and received referrals from them. Involvement with local schools has continued with Tiff providing lessons and assemblies in local prlmary schools. Tiff also provides support for the Head and Chaplain at the local secondary school as part of their 'Christian Ethos Committee. in maintainin8 and developing the Christian ethos of ihe school in line with its vision and values. We were once again able to prepare and cook a full Christmas meal provided on the chL¢rch premises to 75 individuals who would not otherwise have enjoyed a Christmas me31 and festivities. The Pastoral Care Team also ensure that those within our church community who are particularly vulnerable have at least one nominated support person to keep in re8ular contact and provide the practical. emotional and spiritual 5UPPOrt required. There are many personal testimonies that have been shared by the individuals and families who have found fresh hope, lasting friendships and real encouragement through Wellsprings Community Church. In planning the activities. the trustees have applied the guidance on public benefit issued by the Charity Commission. Structure* governance and mana8ement. Responsibility for setting policy and for determining the parameters within which the charity Should operate rests with the trustees who meet regularly to monitor the activities of the charity. The work is divided into four main areas of ministry - Pastoral Care- Outreach- Youth and Children- Support. Each area has a Ministry Team with recogni5ed individuals active within each area and a Ministry Team leader who is generally part of the Leadership Team. All the trustees of the charity are also part of the Leadership Team. Each Ministry Team meet5 to pray, review and plan the activities within the agreed aims and objectives of that Ministry Team. There is liaison between the Ministry Teams and regular communication between the Ministry Teams and the Leadership Team. Meetings to discu55 the ongoing objectives and attNitie5 of the church, open to all members and regular attenders, are normally held at least twice a year with the intention of increasing such gatherings to three or four a year in the coming financial year. New tru5tee5 are proposed by a majority of the existing trustees and the appointment confirmed after allowing the members a period of 3 weeks in which to make comments to the exlsting trustees. Financial review Unrestricted funds income for the year rose Slight￿ from £74,174 in 2021122 to £79,927 and the trustee5 acknowledge with thank5 the continued and faithful 5UPPOrt given during the uncertain time5 of the last year. Total unrestricted expenditure was £76,713, increased from the £68,920 in 2021122 principally because of increased activities as Covid restrictions were removed, and in particular the community café outreach which was able to open for 3 days a week. The £15,300 restricted fund expenditure relates to depreciation. The result for the year was an overall deficit. including restricted funds, of £112.0611 compared with a deficit of £110,274) in 2021122 Re$er¥es Pollcy The trustees have determined that the charity should aim to hold free re5eNes (defined as total unrestricted funds less fixed a5set51 of no less than £16,000 (which equates to about 3 months, of unrestricted expenditure) so that the charity could continue to operate should income and/or expenditure vary adversely. At the year end. the charity held free resefyes of £16,663 12021122 £9,164). The trustees monitor cash flow on a regular basis with the intention that reseNes are progressively rebuilt. Key risks Ind un¢ertaintle$ The charity is exposed to various risks, be they operational, financial or reputational. The trustees review the charity's aCtNitie5 regularly to identify significant rlsks and, Whe￿ possible, they take appropriate measures to mitigate those risks. Plans tor the future There are no immediate plans for any further substantial capital expenditure as the church premises, IT/AV equipment, community café and commercial kitchen a￿ all in good condition and able to deal with the current and experted future demands. Responslbllltles of dlrertors under company law The director5 are responsible for preparing the trustees, report and the financial siatements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Prarticel- Company law requires the directors to prepare financial statements for each financial year which give a true and fair view of the state of the affairs of the charitable company as at the balance sheet date and of its incoming resources and application of resources, including income and expenditure, for the financial year. In preparing these financial 5tatement5, the directors are required to.. l. select suitable accounting policies and apply them consistently: 2. observe the methods and principles in the Charities SORP,. make judgements and estimates that are ￿asonable and prudent: 4. state whether the applicable accountin8 Standards have been followed. subject to any material departures disclosed and explained in the financial statements- and 5. prepare the financial statements on a going concern basis unless it is inappropriate to presume that the charity will continue in operation. The director5 are responsible for keepin8 proper accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for takin8 reasonable steps for the prevention and detection of fraud and other irregularities. Approval This report was approved by the directors on 10 July 2023 and signed on their behalf by.. P H Bedford Company number: 07533316 Charity number= 1140895 INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF WELLSPRINGS COMMUNITY CHURCH ('the Companv) I report to the charity trustees on my examination of the account5 of the Company for the year ended 31 March 2023 on pages 7 to 16 followin& which have been prepared on the basis of the accounting policies set out on pages 9 and 10. Responslbilities and basls of report As the charitvs trustees of the Company land also its directors for the purposes of company lawl you are responsible for the preparation of the accounts in accordance with the requirement5 of the Companies Act 20061'the 2006 ACYI. Having Satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eli8ible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 I'the 2011 Act'l. In carryin8 Out my examination I have followed the Directions 8iven by the Charity Commission under section 145151 Ibl of the 2011 Act. Independent examlnerfs statement I have completed my examination. I confirm that no matters have come to my attention in connection wSth the examination giving me cause to believe.. l. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act. or 2. the accounts do not accord with those records; or 3. the accounts do not comply with ihe accounting requirements of section 396 of the 2CQ6 Act other than any requirement that the accounts give a 'true and fair, view which is not a matter considered as part of an independent examination. or 4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reportin8 by charities applicable to charitie5 preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Signed.. Date: 23 August 2023 Darren Warren FMAAT Paxton Independent Examiners 6 Alfred Street Rushden NNIO 6YS WELLSPRINGS COMMUNtTY CHURCH STATEMENTOF FINANCIALAcnvmES INCLUDING INCOME AND EXPENDITUREACCOUNT FOR ThE YEAR ENDED 31 MARCH Zll3 Total Funds 2023 Total Funds 2022 Unrestricted Funds Restrirted Funds Note INCOMEAND ENLK)WMENTSFROM: Donations and legacies Charitable attivities 63,326 16.EAn 63,351 16,EQl 65,213 8,984 Ti>tsl incame and endowments 79,927 25 79,952 74,197 EXPENDITURE ON: Charitable attivities.. 7&713 92,013 84,471 Total expenditure 76,713 84,471 Net Incomellexpendlturel 3,214 115,2751 110.2741 Trnnsfets between tunds 14 IL9&)1 N¢t mov•m•nt In funds L234 113.2951 110,2741 ReconcllSation of funds: Total funds brouBht forward 413,388 359,￿5 773,193 783,467 Total funds carrled fo￿ard 14 414,622 346,510 76L132 773,193 The statement of financial activities Includes all gains and losses recognised in the year. All income and expenditure derive from continuin8 operations. The statement of financial artivities also complies with the requirements for an income and expenditure account required by the Companies Act x[￿. The notes on pages 9t0 16fomi part of these attounts. WELLSPRINGS COMMUNrrY OIUROI BALANCE SHEEr AS AT 31 MAROI 2023 Tot•1 Totsl Funds UNesthrted Restricted FuTrJs FuTrJs 2023 Z022 Note FIXED ASSETS Tangible assets 397.959 397 959 350.505 770,029 770 029 IXIRftENT ASSETS Debtors Cash at bank aTra in hand 5,631 5.636 7,591 22.449 29.044 29,049 30,040 CREDThORS.. Am¢uhts l•llin¢ due wiihln orte ye•r io 6.276 8.276 14.IC Net curreni •s*¢s I Ill•blll¢bes) 22.768 Total ass•ts le55 current llablllt1•5 420.727 348.510 769.237 785,963 cRED￿oR$. Amounis falllni du• after mofe than on• y•ar li IA1051 18,1051 112,7701 TOTAL NET ASSETS 414,622 346.510 761132 773,193 FUND BALANCES Unrestricted Funds Ger￿ra1 funds Oesi8wted lunds 14 10.398 10,398 9,164 414,622 414,622 413.388 Restrtcted Funds 359,8P5 414 622 761 132 The charitsble ccry•rw is •Nti¥ed to •xerrw'M Irm a￿lit ufy1tr 5tJ23 dl Fund actountin General funds are vnrestricted funds whith We available lor use at the discretion of the rrustees in furtherdnce of tht general objectives of the charity. Oesi8nated fvnds comprise unrestriaed funds ihat have been set aside by thetrustees for particulJr purposes. Aesrriaed funds are donations which are to be used in acurdance wirh speclflc restrictions imposed bydonors.they indudedonations receiwedfromappeals lorspe0fi¢4rtivilie50rprojeas. Items purchased or donated lorthe chartty's own use are upitsli5ed whenthe msiof purthased items. ortht fi¢iv•lye of donated it¢rn5, 15 more than UQ) and the itern is experted to benefit the tharity over rn0￿ than one accountin£ period. Depreciation is thar8ed on a Strni￿¢ line basis so as to write down the v*ue of eath 355et to its estimated residual value lif any) over its ÈxpÈutd useful eronomic lile. To achieve this objective the lollo%wn8 rate5 01 depreciation are (hu8ed from the d*e lhotassetsa￿ brou8htirtouse.' Freehold buildln8S Flxiures and fittin Equipment Pprtoble computerequipment Over I￿YearS ¢)¥er Ioyears O¥er5ye4r5 O¥er3years The orryini values of tèn8lble fixed assets •ro rtvitwed for irnp•rnent in periods when tvenis or changes In ¢lr¢umstanc¢s inditate thatthe urryin8v•lue mty not be rerovernble. rran The charity operates *Jefined tontrlbutioth pensloth stherne¥ lor11s trnploy••s. Oblliaiions for conirfbvtions to these s¢htrnes are r¢¢o8nistd •5 •n tipense when the liability orise& Tr* a55eis of these schemes Ire held separntely from those of the charSty in independently administered lunds. ax The comp•ny Is • rt•'stor*dDlerred by the Charities SORP ¥+d has hot prepar¢d • ush flow statement. The trustees do not ￿nSIder that there any Materi￿ sources oltstimation or uncertainty atthe balan¢e shtet d•¢e th•t Could resuli in arn3teri41 adju5rm¢ntio rhe ¢arryinqvlue5 of assets and li3￿.1111t5 in the next feportingperiod. iknrnsidaed ftestriaed Funds Funds Total 2023 Totil 2022 natlon5 O¢her8rants rec¢iv•ble Le8aoes re￿[Vable In￿me ux r¢¢o¥ernbl* SL622 LYXI SL612 LXXI 4255 525 IQ433 65,213 Inrom•fromth•rtt•bl• iknrestrttted Funds Restrftted Funds Total Total Communityixitrtath pro8nms 14f 14&Ji io WELLSPAINGSCOMMUNITYCIWRCH NOIESTOTHEACCOUNT5 FOR THEYEARÈIIDEDIIMARCHIO 5 Charftsble expendi￿re rtstrirted Restricted Funds Funds Total Total Costs In￿[rnd dlrndyon sp•¢th¢•¢¥¥W Salaries, Iravel and expenses Telephone, stationtry athd utilities Giftsto speakers Maintenat)ce Youth attiviries ènd dubs tocal outreath attlvities Orherrunnin8 Costs Gr3n15 p4y•Wt Inpr• 3L320 8,101 5.211 5.211 ?15 6,337 lJ43 &337 l475 9,265 b Colts Inujryedon 5UPPOrt& •dff4nlllr•tlon Governance Costs Cost of Independent exafflination k loan inter¢st payable Depredaiion of tin*ble tlxe41 u5ets InsUr￿Ce 21565 2LS6S l.749 24.&J5 9,275 24.575 T•¢•1 •xpendltur• C Grnnts Pby•W• In5Ututions Individu•15 2023 Gr•nts for UKand o¥erseas mlsslon Grants forth¢ ¢¢lief of p¢¥•ty 3,IXI 3,4(Q ￿573 4,973 9,123 Th• ￿Mpari11¥•$(trrth* pr•vlo¥sy••r¥• * 1oII•w5.' lfistitutions lrtdivldu41 Grints for UK ind o¥ètse•s rnission Grantsfor rhe relief of poverty l675 4,774 7.449 L49) 4,125 5.140 L816 The chaAty'5prfnopal y3ntsioin5t1i￿lons￿fflPrt￿d.. TearFu•d The Leprosy Mi551ty1 Open Doors UK Wycliffe Bible T￿n￿lI￿r$ France Mi$5ion ECMI Ukrnine appeal fy•nts to inrtitutions forlessth•n £750exh L49) L,S49 7.149 li WEUSPRIPIGSCOMMUNITYCHURQI NOTESTOM ACCOUNTS FORM YEARENOED 3IMARCH1073 Anil>ryls olStthro5￿ therWI￿ k4yrn￿len￿rttPÈIs0ttr￿ and tntst•• r•nw•r•tlOn￿0expenses 2023 Grosswa8e5 and salarie5 Social secur¢ty Penslon costs Otherernployment fQ5ts 23.844 129 136 3,C02 33.265 1931 31,C64 The avern8e monthly Thum￿T￿l trnployee5 durin8theyearwas 213)22.. 21. NS)st ofih¢th￿ty,S aCllvltle5 are carrled out by volunteer5. No sroff received salaiiesat a rnte otrnore than £FIlCO)per￿￿Uffl. The charity s key rnona8ement comprise tbe trustees and the kty stsff nomed on tht Company Inforniiiion po8e. Total employrnent benents ptyable to key management ftyrtheyearwere as follows". Employer W4es & pension salaries tontributions Churth Communityworker Mlth*el Tlff*ffiy 691 The followin8•mounts wer• thiry•d inth• pl•￿0Y$ employer W4es & p¢n5ion es contributlons ))22 Churth Comrnunlty Wothf Mi¢hi¢l Tiff•nv In Jddltlon ihe tharfty Incurved e¥pendlture tot•llifj8 Eirx)2 12022.. U9311 In fespea of the custom•ry pffjVl￿0tl ot 4ccommod•tion to MithaÈl Tiffiny sotth￿ h* could betterpertorrn hls duties. Noothertmst•esl¢r*nyon• ¢onn•a•dt•th•ml reu¢wd eff4>loyment beneflts In*lth¢rthe tyrrtnt or pre￿d￿nIYe9r. FsxtUf¢S, F￿¢bOld fittiTh85 and Property equlpment Total Cost At 31 March ))21 ?4J.45J IW568 154,0 Additlons th'sp05als At 31 Marth a)23 743,49) ￿568 851018 A￿uMUlated dowed*lon At 31 Marth 2022 Ch3r8e forrhe year Olsposa15 At 31 Wrth l)23 $4,7 7,472 29.224 14,093 2L 237 43 317 1(6,$54 Net book valut At 31 March &)23 68L213 ,251 741464 At 31 March 1022 81344 770,029 12 WEiLSPRINGS COMMUNITr OiIRCN Freehold property comprise5 thurth premises a residenti41 property. wthith we(e transfetred from Wellsprin Chapel on 6Aprtl 2011. The k¥opertieswere tv*nsferred attheirestimated ma￿etValueS atthattirne. whith amountedto Oebtors T•x remvernble Prepayments and acrnjed Sncome 4249 L387 X636 L3C6 7.591 Cuh•tknk•nd In 2023 ish it b*kw¢th imrnedi•te K(es5 Petty Cosh 21879 $34 23,413 22,241 22.449 10 Cr*dltoii- Ilablllll•sfalllwdu•*rfthlnw• yw Trnde ¢r¢ditors 74xatSon ènd Mci•l ￿curfty Accruals Bank Loans Member lo•rts 1427 8,118 978 920 276 14.IC6 11 Cr•dlttyi.' 14llrydu••ftv rr•r• th•nM• y•ar 2022 8ank Lean ernberlo•n$1s¢e Note 161 381 ic6 11770 12 ￿￿k1 Membeiio•M *mberl￿n$ nk1o•ns 3J23 Loans repayable byln5talmenisfallln8due'. Within one year Between oThe and five ye•rs Afterfi¥e years 978 4618 785 &381 920 3,138 3,243 7.301 1702 388 10.075 The tharfty has a bank loèn from The Ch¥ity B•thkseoJrtdafi thE ¢harity5 residerbtial prpperty. The I￿ is fora period of 20years, expirin8Ortober3)28, and interest 15 char8ed ar &5%. Lknderihe tern)s of the mort8a8e. the thbrity 15 required to keep a runnSn8 unrestritted bank balants of at least Th¢ loans from thurth members are unsecured and interest free. 13 WEiL5PIOPIGSCCWMUNifYoiuRCN Durin8 the veèr emploverfs tontributions totalling £4￿ I))22.. E4.W Vie￿ payable to defined contribution personal pEnsitsn sthemt5. Pension tontribution5 01 £359in ￿$pertOf P/orth 2023were owini at the balan￿ sheetdat¢ 12022.. £3591. 14 Funds Durin8the yearthe nwvements in the chartty'sfuhoswere •stollow5.' OpÈnin8 balance 3L3.22 Ir￿mIng Out8oln8 resources resources Tr￿sIerS In ihe year 00slng balance YL3.21 Unrestrided ynernl lunds Desl8nated flyed asset fvnd 1164 17&71Jl Il9thJl 4(14,214 TM•l lthrnStrtd¢d Funds 413,388 79,927 17&7131 414.6ZZ ResrrKredFunds Buildin8fund for*ew txtensloh I￿,3cCI 34&510 115.3QJ 34&510 A4repte of funds 79.YJ2 1910131 76L132 15 Fun¢k contlnued A￿￿￿1*•1￿*t1ttets byfund The 4sset5 •nd Il•NIItItS 0fth¢v•￿0us funds wert •$ 1011ows= Genernl De￿anated funds funds Restritted funds Fixed assets Debtors and prepayrnents C•sh at bank and In hand 397,959 391x6 744464 5.636 23.413 18,276) 18.IC61 5.631 23.413 1&276) NOn.￿rren1 Ilabllltles IirJ)J 1&66J 397,959 34&510 76L132 14 In the previousyearthe movemehts inthe th*rity'sfvnds were a5 follows.. Openln8 bal•ice &4.21 Inrornl￿ Out8oln8 Trnnsfers sour￿$ resou￿$ in the year 2022 2022 aosin8 balance 31.3.22 Unrestricted general funds Desl8nated fixed asset fund IL947 393.285 74.174 16&9 140371 4,939 9,164 404,224 Total uh￿St￿¢t¢d Funds 41L232 74.174 1619 13.CfAI 413,388 ResrrirtedFynds Bulldlngfund fof new extenslo 3R235 115,551) 359,K6 Total Restricted Funds 371235 Iis,ssii 359.&]5 A4reBate of lund5 783.467 74.197 184.4711 773,193 hofnet•Mets byiund The ￿Se1$1￿d Ilabllltles 0fthe￿￿￿jS fundswere as Idlaws.. General Designatel fvnds fvn05 Restd¢¢ed funds 3L3.22 Flxed assets Debtors pr¢p•ymeth¢s Cosh ar bankand In h￿d .224 77Q029 7.591 22.449 114,IC6) IQ7 7.591 449 110))) 14,¢XOI 140fi-tyrn•nt Il•blll¢i•s 1&77q 9.164 ,224 359. 773.193 Th* d•sSihbt•d hx•d *M•t Iw)d rtpr*sents th¢ Irwtstm¢ht lth fix￿ •ssets.. these r*soiir(*s •r¢ not readlly vallable ro fund the tharlty'5daytpd4V OPITrIIQIII. Th• r•ithtt•d bull41ry lund is for the h¢w txt*n51on r•lé tp ihe thurth. cornpl•t• wlth o new and enlar8ed kitchen, and a mahorrelU￿iShrnlnIOl0Iher￿￿ olthe I￿$*n¥. (ompleted In ￿2L 16 TrIn￿E￿o￿ *4th r•I￿ld p¥O•5 During 202V23 the thartty received don*ions iot¥lin8 E14,4))12022.. EI&IXI I from irustees and related pgrties. At end of Marttt thero remained a3880￿$tanding0Th the tru￿te I￿rt. Ind £4(0) im other lo*hs from ffl¢mb¢r5. Th¢¥e lo•n5 Ire interest freè and rÈpay*ble ovtr 5ye*s. Except forexpenses Incurred when￿1n435 yntforthe thartty. ¢￿eXF￿n5esWere paid iolorfor) thetrustees. 17 Mèmbers Ea¢h rnemberof thè tompany tommitstocontributt if the tharity i5wound upan *Mumt of £L 15 fn