Wellsprings Community Church Report and Accounts For the year ended 31 March 2024 WELLSPRINGSCOMMUNITY CHURCH FOR THE YEAR ENDED31 MARCH 2024 COMPANY INFORMATION Dirertors/trustees Philip Henry Bedford Andrew Charles Heath-coleman Anthony Paul Lambert, retired 24 October 2023 Laurent Anthony Boon Rebecca Louise Wood. retired 24 October 2023 Vanessa Redwood. appointed 24 October 2023 Rebecca Lambert. appointed 240ctober 2023 lan Michael Glass, appointed 21 November 2023 Company Secretary Philip Henry Bedford Key staff Michael Tiffany- Church Community Worker Govemlng Document Mernorandum and Article5 of Association dated 17th February 2011, as amended 14 Januarv 2019 Ire change of namel Company Registration Number 07533316 Charity Registration Number 1140895 Registered Offitè 5 Hope Corner Lane Taunton TA2 7NU Independent Examiner Darren Warren FMAAT Paxton Independent Examiners 61 a High Street South Rushden NN106RA Bankers Lloyds Bank. Taunton Contents Company Information Director5. Report Iridependent Examiner'5 Report Statement of Financial Artivities Balarn￿ Sheet Notes to the Accounts Detailed Statement of Finantial Activities with Comparatives Pa8e 15 16 WELLSPRINGS COMMUNITY CHURCH REPORT OFTHE DIRECTORS FOR THE YEARENOED31 MARCH 2024 The directors, who are the charitrfs trustees for the purposes of charity law, have pleasure in submitting the Report and Accounts for the year. The company, initially called Wellsprings Chapel, wa5 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 and the nearby house, 31 Quantock Road, with effect from 6 April 2011. The name of the company was changed by Special Resolution 14 January 2019 to Wellsprings Community Church. ObJetts of the charlty 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 governing document are.. to advance the Christian faith in accordance with the Statement of Beliefs in such ways and in such part5 of the United Kingdom or the world as the Trustees from time to time may think fit to relieve sickness and financial hardship and to promote and preserve good health by the provision of fund5, good5 or services of any kind, including through the provision of care and support in such parts of the United Kingdom or the world as the Trustees from time to time may think fit to advance education in such way5 and in such part5 of the United Kingdom or the world a5 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 a5 the trustees in their discretion from time to time determine. The trustees note that the Church is not a building, but a gathering of ordinary people of different ages and background5, whose lives have been changed by jesus Christ, the Son of God. The New Testament revea15 the Church as a community of people. properly taught and cared for, whom by loving and serving jesus Christ, were a150 committed to love and care for each other and to bring a ble55ing to those they met and to the area in which they lived. Wellsprings Community Church.. its trustees, leaders and members are committed to the extension of God's Kingdom and the living out of Kingdom principles. 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 kntswing 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 chariV5 main artivitie5 and achievement5 The lifting of the restrictions imposed as è result of COVID-19 meant that most of our 'normèl' activities involving the physical use of the church premise5 started again, although the number of volunteers able to commit their time has meant that some community related 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 mornin8 services continued each week with the recorded service provided online the following week using Facebook and YouTube. We continued the new style of Sunday morning services introduced in 2023 to try and best meet the needs of an increasingly diverse group of folk in regular attendance on a Sunday morning. One of the weekly Hoffle Group5 merged with another Home Group and another Group chose to meet most weeks on the church premises. The weekly, 'Keep Connected at Wellsprings Community Church, that Was 5tsrted 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 morning, particularly for families in the local tommunity. called Church Connett wa% unable to retommenee duririg the year because of insufficient volunteers and human resources. The new style of Sunday services now include one Sunday a month with a more informal 'cafe style, with seating around tables designed for all ages. The Friday night youth club and the Toddler Group meeting on Friday mornings have been well supported and appreciated by all those involved Because Wellsprings Community Church was at the heart of the local response to the coronavirus outbreak with our fulltime church community worker (Michael Tiffany, "Tiff l acting as the toordinator for the We115prings Area of the Coronavirus Community Help Taunton group, many of those links have been continued with the WCC community 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 primary schools. Tiff also provide5 support for the Head and Chaplain at the local secondary school as part of their'christian Ethos Committee, in maintaining and developing the Christian ethos of the school in line with its vision and values. We were once again able to prepare and cook a full Christmas meal provided on the church premise5 to 75 individuals who would not otherwise have enjoyed a Christmas meal 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 reEular contact and provide the practital, emotional and spiritual support 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 manaBement. 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 artivities of the charity. The work is divided into four main areas of ministry- Pastoral Care,. Outreach,. Youth and Children.. Support. Each area ha5 a Ministry Team with recognised 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 meets to pray, review and plan the activities within the agreed aims and objectives of that Ministry Team. There is liai50n between the Ministry Teams and regular communication between the Ministry Teams and the Leadership Team. MeetinES to discuss the ongoing objectives and artivities of the church, open to all members and regular attenders are held at least twice a year with the flexibility to hold anc>ther two such meetings as required. New trustees are proposed by a majority of the existing trustees and the appointment confirmed after allowing the members a period of 3 week5 in which to make comments to the existing tru5tee5. Financial review Unrestricted funds income for the year rose slightly from £79.927 in 2022123 to £84,260. largely due to the increased footfall in the café, and the trustees acknowledge with thank5 the continLJed and faithful support given during the uncertain time5 of the last year. Total unrestrirted expenditLJre was £86,213, increased from the £76,713 in 2022123. Most of this increase related to several major repairs at 31 Quantock Road. The £12.566 restricted fund expenditure relates to depreciation. The result forthe year was an overall deficit, including restricted funds, of £114,519) compared with a deficit of £112,0611 in 2022123 Reserves Pollcy The trustees have determined that the charity shoLJld aim to hold free reserves (defined as total unrestricted funds less fixed assets) of no less than £20,000 Iwhich equates to about 3 months, of unrestricted expenditurel so that the charity could continue to operate should income andlor expenditure vary adversely. At the year end, the Charity held free reserves tsf £18,904 12022123 £16,663). The trustees monitor cash flow on a regular basis with the intention that reserves are progressively rebuilt. Kèy risks and untertainties The charity is exposed to variou5 risks, be they operational, financial or reputational. The trustees review the charity's activities regularly to identify significant risks and. where possible, they take appropriate measures to mitigate those risks. Plans for 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 are all in good condition and able to deal with the current and expected future demands. Responsibilities of directors under company law The direttors are responsible for preparing the trustees, report and the financial statements in accordance with applicable law and United Kingdom Accounting Standard5 (United Kingdom Generally Accepted Accounting Practice). 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 it5 incoming resource5 and application of re50urce5, including income and expenditure, for the financial year. In preparing these financial statements, the directors are required to.. l. select suitable accounting policies and apply them conslstently,. 2. observe the methods and principles in the Charities SORP.. 3. make judgements and estimates that are reasonable and prudent; 4. state whether the applicable accounting standards have been followed. subject to anv material departure5 disc105ed 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 directors 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 a55ets of the charitable company and hence for tskin8 reasonable steps for the prevention and detettion of fraud and other I￿eBUIarities. Approval Thi5 report wa5 approved by the directors on and signed on their behalf by.. 81L -S￿lf J9¥ P H Bedford Ctsmpany number.. 07533316 Charity number.. 1140895 I ￿PL￿t tothe tharity tvu4pe5 on my examinationof the accounts gfthe Crynpanyfor ye¥ended 31 Vorch a)24 ofj p•8es 7t0 16foll¢Jwin& whith have beefi yepared on the ba￿5 ofthe policie5 setouton p3ge5 9ond Asthe tharirf5tVU5tee50fthe Cwanyl?nd a150its dirEctor5forthe purposes ofcompany lowl you avE fe5PM5ible forthe preparatlon of the acrc4Jnts InacmrdarKe ￿thI￿e requlrernentsofthe CompanlesACI )X61'the JX6AcYI. Hawin85ati5fied my5elfthatthearxountsoFtheComp•yare n￿￿quired10 be audited4nder Part 16olthe 3X6Art and are ellwble for independent examination. I report in ￿5￿ert of my examination of your accounts as (arrfed LX*tunOersectlon N50fthe CharitiÈsAttX*iillhÈ JiiAtvI. Intarryin8OUtmy examination I have followEd the LirectionsBiven by the CharityctynftMs>w ur#lerseaK)n 14951 Iblofthe 31111 I have completed my examlnatlon. I ronhrm thai no matters hwe cw w my attenfjon uffinertlon wlth the examlnatyors*¥ln8merawe to belle*: L3ccounVn8¥eccrtswererwXkeptin ￿￿e(lo1￿COmPl￿a$le4￿red bysethon ￿orthe ￿ A¢or Z tbe xu*Jntsdo notat(0￿ ¥riththose records. LY J the aufjunts do rK)t comply ¥￿th the ac£ouniinE ￿quI￿n￿n[S of section ￿ of the ￿ Act other than any requI￿rne￿r that the accounts give a'm* and fair yiew which Is a m3uerronydered as part of an independent examlnavon.. or 4. the atCOUthts ha¥t not been pwep*d in actordance v4ith the methods and ￿nCIpleS of the Ststement of ReoJrnrreNled prattl￿ for armuntin8and reportlng Oy tharfues applbble to d53rfJe5 preparlng thelr ￿trunts In atcc*dancewlththe RepLvtsnBstsndard applItab￿ in the l￿#￿￿ Republitoflrtlamd (FPS 1021. I have no ￿n￿rn5 and hwe come Otherrnoffe￿ In ajnreaion with the examinotlon to whith Httentiun should be draw* in thi5 rqpcrtin orderto*th￿2 a wupÈru*derstandingof tt**cwntstobe oad*d. Si8ned-. Darreo Wwen FIMAT Paxton IndÈwndÈnt Examlrws 61a High Street So Rushden NN106RA WELLSPRINGSCOMMUNITY CHURCH STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOMEANDEXPENDITUREACCOUNT FOR THEYEARENDED31MARCH 2024 Total Funds 2024 Total Funds 2023 Unrestricted Funds Restricted Funds Note INCOMEAND ENDOWMENTS FROM: Donations and legacies Charitable activities 63,195 21,(￿5 63,195 21,065 63,351 16,601 Total income and endowments 84,2EA) 84,260 79,952 EXPENDITURE ON: Charitable activities.. 86,213 12,566 98,779 92,013 Total ÈxpenditurÈ 86,213 12,566 98,779 92,013 Net incomellexpendlturel 11.9531 112,5661 114,5191 112,0611 Transfers between funds 14 11,9951 1,995 Net movement in funds 13,9481 110,5711 114,5191 112,0611 Recontlllatlon of funds.. Total fund5 brought forward 414.622 346,510 761.132 773,193 Total funds carrled forward 14 410,674 335,939 746.613 761,132 The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing operations. The statement of financial activities a150 cornplies with the requirements for an income and expenditure account required by the Companies Act 2(￿. The notes on pages 9 to 16form part of these accounts. WEUSPftW165 tt)MMUNIT¥alUftOI &4LINCE SHEET AS AT 11 2024 Total Funds 2024 Unrestncted R¢strictÈd FuNts Funds 2023 Note FIXEDASSETS Tawible assets 391.770 391 770 337 939 CURRENT NSSETS ebtrys Cash at bankand In hand 1253 25.6 2,253 5,636 27,853 27053 19,049 EEifoRS..Amouhtslallln¥ due wtthln ono year 4.524 6.524 8.276 NÈt¢¥rreffttas￿ts I l**bMII Toi•l aswtslM¥¢wrr¢nt Ill￿*11 41S,(89 335.939 751,038 769.137 E(HTORS.'AmDuntsf•lllA8du¢ er fflort th•n •ne year li 14.4251 14.4151 1&1051 TOTAL NET ASSFfs 410674 aas 939 746 613 761 132 FLND ￿L*ll(E5 UNestricted FuThY5 Genèral fuThY5 Designated fund5 14 iagm 18,9N 10.398 410,674 410.674 414,622 Restrtcted Fur 335 939 335 939 dlo 674 335 939 746613 The ¢h3dtsble CL)mp4ny is entlled to exetyioft Ift￿ a￿ll under Secti￿ 477 of the Companie$ Ac¢ 2W6 fo￿ the year end2d 31 March 2023. The have not required the corrwny ta obtairn an aLdt of its financl315tatery*Dts f¢* the year ended 31 March 2023 irt attdrdancewith Section 476 of the CornpJnies A¢t 2(n6 hTrwever. in accortsnce secti￿ 1415 of thÈ c￿￿tse5 Att 201L thè accounts ￿eTh ex•min8d by aTr IrdepÈ￿@Tht ex3￿ner aNJ their beefi Incl￿jed in t*Èse fir*ntial ststements. dIre￿￿5 Iwho are t￿ ch3ritaNe company's trJstses for the puwes of chadty lawl ack[wn￿e1lÈ t￿br .respNtsibilitses for. lal en5urt￿ thaL Ihe Ihafitsbl2 cLryary keep5 aCct￿n￿r& recorf5 wFith corn￿¥ with se¢b￿ 386 387 Ot the Corwar#ÈS Act 2tlJ6 Ibl ￿￿rin$ flnarKial ststements whith give a trt￿ and fair view of the stsie of affairs of the charitsble corrwny as at end of each fiDhrKial year of its r*t iKorne or expEndiiwe loi each fIlla￿l&l year in 3ccoid3we tho requlreryEnr3 vf Sedor6 394 and w￿th othetwi%t Corn￿¥ WIth￿￿ rtquireriient5 of Conynies kt I￿6 latlngto firKintial ststeffftrfs, stsfaras aFyliC3ble to1￿ rharftsble £oryJny. The financial 5tatemetlts been wepared In accothtKe wlth wovSsion5 of Part IS of the Cornp4niES 20J6 ielètlne tosm311 COmPahièS. The fiD¥D¢i•I statements T4vere appro¥ed bythe Boardof Oirectors on &7.l%nd were %8ned tsn its behalf by.. P H Bedford, Chairof Tru51eps Company nthnber.. 07533316 Charity Durnter. 1140895 The motes on paKe$ 9 10 16 forrnpart of these accounts. WELiSPRINGS COMMUNtry CHURCH NOTESTOTHEACCOUNTS FOR THEYEARENDED31MARCH2(Q4 Statutorylnformatlon The charity 15 a th3ritable company limited by guarantee and 15 incorporated In the UDlted KiDgdom. The company5 registered numberand re8lStered Offi￿ address be found on the Company Information page. Actounung Pollcles Thesefinancial statements are prepared on ag01ngcon￿rn basis, underthe historical costconvention. Thesp finan￿al stotement5 have been prepared in arrordance with the "St4tempnt of Rewtnrnended Pradjo.. Accounting and Reporting by Charitie5 preparing their accounts in accordance with the Financial Reporting Standard zppliThble in the United KingdDm and Republic Df IrEland I"FftS 102,1. with the Companie5A(t2[￿￿afid with thE Charitie5 Art2011. The charity meetsihe definition of a public benefitentity as5etout in FR$ 102. The principles adopted inthe preparation of the financial statements are setout below. The rru5tees (who are the charitable company'5 director5 for the purp05e5 of company lawl have assessed whether the significant doubton the ability of the charityto continue a5 I gping concern. The trustees have made thi5 I55e5Stnentfor considered ihe tharity'5 fore￿5t5 and proieciions and the possible implications should projected Income and / or expenditure vary unexpectedly. The tru5tee5 hive CDncluded that there is a reasonable expectation thatthe Iharity h adequate re50urcestocontinue to operate forthe foreseeable future. The charitytherefore continue5to adopt the going IDcome including investmeDt income 15 recognised in the period in which the charity becomes entitled to receipt. the amount re￿ivable can be measured with reasonable certainty, and receipt Is probable. For the most part, income 15 gÈnerally retognised when it is ￿tel￿ed. Intomè is only dÈfer￿d when ihè tharity has to fulfil tondilions befo becorning entitled to it orwhere the donor ha55pegfied thatthe income 15 to be expended in a future period. bythe balan￿ Sheet date 15 included a5 I debtor. 111 Donated facllitles, servites, flxed assets and goods. These are retognlsed as Intome when retrlvable at ihelrvalue tothe Iharity. charity has been noiified thata distNbution will be made and the amount receivable can be measured reliably. The charity rèlies on volunteets to tarry Out many of its attivities. However, in atcordante with the SORP, thè value of these setvices has not been Induded in these finanual 5tatementsa5 theycannot be reliably rnea5ured. E¥peDditure. including I￿er0verable VAT, is recognised when it is incurred or. if earlier, wfven a legal or constructive obligation tan be MeaSu￿d ￿lIablY. The charity make5 gTrnts to other in5titutiDn$ individua15 to further its charitable objertive5. G￿ntS payable are recognised a5 consiructive obligations arise, which Is generally when the charity expresses a commitment to the reciplent that tan be measured rellably and then only ￿ the exient that any condiuons associated with the grant are outside of the control of the chirity- fy)vemance cost5. whith are included in expenditure OD tharitable 3ctiyities but3re identified separately in the note5to ttsn5litutiOnal and statutory re4uirÈmèntS 3nd any othÈr expenditu￿ irttur￿d On the stratÈgic management tsf the harity. WELLSPRINGSCOMMUNIIY CHLIRCH NOTESTOIHEACCOUNTS FORIHEYEAR ENOED31MARCH 2024 dl FLJnd accountin General funds are unrestricied funds which are available lor use at the discretion of the trustees In furtherantt ol the gener41 objettivesof the rharity Designated fund5compri5e unre5trided funds thit have been set 45ide by the tru5tee5 for particular purp05e5. Re5triaed funds are donations which are to be used in ac(ordance with Specific restricrion5 Imposed by donors, they include donations received Irom appeals for speclfic attivitles orprolerts. ltstns purch3s@d or donat@d for the charity's own use ar￿ capitali5&d wh￿nth￿ costof purchased itsrns. orthe fairvalue of donated items. Is more than £2W and the Item Is expected to benefit the charity over more than one accounting rÈsidual value lif any) Over its expeEtÈd usÈful Èctsnomic life. To athieve this objettivè the following rates of depreciation are charged from the d*e th*a55ets are brought into use.. Over ILX)years Over IOye3rs Over 5year5 Over 3¥ear5 Equiprnent Portable computerequipment The tsrrying valuès of tanEiblÈ fixed assèts are revlewed for Impairment in perlods when evènts or thanEes in circumstan￿5 Indi(ate thatthe carryingvalue may not be recoverable. Il Pension Scheme arran ement5 schemes are recognised a5 an expense when the liability arises. The a5set5 Of these schemes are helcl separately from those of the charity in Independentlyadmini5tered fund5. The company is a registered charity.. it ha5 taken advantage of the various reliets froTntsxation available to charitie5 noiax 15 payable on the charity's income. n) Exem lon from 3 tashflow StstÈment The charity h35 taken advantage of exemption conferred by the Charitie5 SORP aDd ha5 not prepared a cash flow statement. re estimaies and areas of Thc trustees do not con5idcrthat there any matcrial sour05 Of estimation or unortainty atthe balan￿ sheet date that ud ement Otsnauonsand le8acles Unrestritted Fund5 Re5trirted Funds 2024 2023 Donations othergrants receivable 53.2 53, 51.642 1.5 344 InrotnÈtsx rewverable 9.986 63.195 9,9É6 9.865 63.351 Income Iromcharftable act6¥ltles Unrestritted Fund5 Restrlcted Funds 2024 2023 Communiiyoutreath programs 21,L￿5 21.￿5 21,￿5 21,(￿$ 16,601 16.601 io WELLSPRINGSCOMMUNIIY CHLIRCH NOTESTOIHEACCOUNTS FORIHEYEAR ENOED31MARCH 2024 Charitsble expenditure Unrestricted Fund5 Restricted Funds 2024 2023 costs1ncurreddlrertlyonspeclflcactl￿t1ÈS 37.886 37.886 y.iy) 650 Maintenance Youth a￿1VitieS and dubs Local outreath attivities Olher runningtosts rants payable (note fKI 9.183 3,5C 7,424 2,214 7.593 76,807 9,183 5.211 2.121 6,337 2.843 9.123 61,438 7,424 2,214 76,807 b C05tsincurredon 5UPPDrt & admini5tr*ion Governall￿ cosrs Costof independent examination 720 4189 2,1 12,566 18,755 21,5&5 1.964 24.575 Insutsn 12.%6 21.972 Total expendlture 86,213 12,566 98,779 92,013 C Grants payable 2024 Grant5 for UK and oversea5 mi55jQn Grants forthe relief of poverty 2.050 5,950 943 1,643 7,593 The comparaiive5forthe previous yearare as follows.. 2023 Grants for UK and oversea5 mi55i0n Grants forthe relief ol poverty 3.￿0 4.150 4,973 9.123 6.550 2,573 2024 2023 Tear Fund The Leprosy Mission Open Doors UK Wycliffe Bible TraDslators France Mission 175 875 9m 2,375 1.9 li WELLSPRINGSCOMMUNIIY CHLIRCH NOTESTOIHEACCOUNTS FORIHEYEAR ENOED31MARCH 2024 AD￿Vs150f staff costs,the )24 IDthe previou5 yearthe movement5 inthe charity'5fund5 were a5follows.' Openlng IncomlnE restsu¢e5 2023 Outgolng re50uroes Transfe in theyear 2023 balance 31.3.23 31.3.22 2023 Vnre5tritted generil fund5 Oesignated fixed asset fund 9.164 404,224 79.927 11.9801 10.398 404,224 Total Unrestrlcted Funds 413,388 79.927 11,99A)I 414.622 Rc5tlTttedFund5 Buildingfund fornewextensioD 359.805 25 115.3(K)I 346.510 Totsi RÈstritied Funds 359.805 346.510 Aggregate of funds 713,193 79,952 1910131 761,132 Analysisof neta55et5 byfund Unre5trided funds General DesiBnated funds Restricted lunds 31.3.23 7,959 350,505 748,464 5.636 23.413 18,2761 I8,1C￿l Debiorsand p￿payMentS Cash at bank and in hind 5,631 23.413 162761 141051 12,IXX)I I?,￿1) 16,663 7,959 346,510 761,132 The desl8nated fixed asset fund represents the charSty's Investment In fixed 3ssets,- these resources are not readlly vailable tofuDd the charity'sdayto day oper*ion5. The restrlrted bulldlnA fund is for the new extension and tsfé area to the church, complete with a new and enlarged kit¢hen, and a major ￿furbIShmeTht of otherparts of thè property, ¢ompleted in 2021 16 Tran5actionswith rel*ed partie5 During 2023124 the tharity received don3iions lOtallin8 £14,68512023'. £14,4m I from trustees and related parties. Atend of Marrh there remiined £702out5tanding on the ttV5tEe loin. £2.OW in other loin5from members. These loin5 are interestfree aDd repa¥ableover5years. Exceptforexpenses inturred when atting3s È8entforthe tharityj no expenses We￿ Paid to lorforl the trustees. 17 m@m￿1S Each memberof the (ompanyiommitsto(ontribute if the charity i5wound up an amouDt of £1. 15 16