Wellsprings Community Church
Report and Accounts
year ended 31 March 2025
## **WELLSPRINGS COMMUNITY CHURCH**
## **FOR THE YEAR ENDED 31 MARCH 2025**
## **COMPANY INFORMATION**
## **Directors / trustees**
**Directors / trustees** Philip Henry Bedford Andrew Charles Heath-Coleman Laurent Anthony Boon (retired 29 April 2025) Vanessa Redwood Rebecca Lambert Ian Michael Glass **Company Secretary** Philip Henry Bedford **Key staff** Michael Tiffany (Tiff) - Church Community Worker **Governing Document** Memorandum and Articles of Association dated 17th February 2011, as amended 14 January 2019 (re change of name) **Company Registration Number** 07533316 **Charity Registration Number** 1140895 **Registered Office** 5 Hope Corner Lane Taunton TA2 7NU **Independent Examiner** Darren Warren FMAAT Paxton Independent Examiners 6 Alfred Street Rushden NN10 6YS **Bankers** Lloyds Bank, Taunton
|**Contents**|**Page**|
|---|---|
|Company Information|1|
|Directors' Report|2-5|
|Independent Examiner's Report|6|
|Statement of Financial Activities|7|
|Balance Sheet|8|
|Notes to the Accounts|9-15|
|Detailed Statement of Financial Activities with Comparatives|16|
Page **1** of **16**
## **WELLSPRINGS COMMUNITY CHURCH REPORT OF THE DIRECTORS FOR THE YEAR ENDED 31 MARCH 2025**
The directors, who are the charity’s 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 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.
## **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 governing document are:
- to advance the Christian faith in accordance with the Statement of Beliefs 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 relieve sickness and financial hardship and to promote and preserve good health by the provision of funds, goods 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 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 building, but a gathering of ordinary people of different ages and backgrounds, whose lives have been changed 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 loving and serving Jesus Christ, were also committed to love and care for each other and to bring a blessing 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 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 charity’s main activities and achievements**
We were able to demonstrate the Christian faith in action by serving the community in which we operate in the following ways:
- 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 people in regular attendance on a Sunday morning. The sermons on the first and third Sundays are recorded and provided online the following week on YouTube.
Page **2** of **16**
- A weekly Home Group meets in a member’s home and another Group continues to meet most weeks on the church premises.
- The weekly, ‘Keep Connected at Wellsprings Community Church’ continues 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 community, called Church Connect was still unable to recommence during the year because of insufficient volunteers and human resources. The new style of Sunday services now includes one Sunday a month with a more informal ‘café 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
- The WCC community café (Café Connect) continues to grow and provides 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 our Church Community Worker (Tiff) providing lessons and assemblies in local primary schools. Tiff also provides 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 premises to about 80 individuals who would not otherwise have enjoyed a Christmas meal and festivities. Christmas meals were also delivered to many in the local area who are unable to get out.
- 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 regular contact and provide the practical, 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 management.**
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. The aim is that each area has a Ministry Team which is led or supported by a member of the Leadership Team, who will meet and pray with those actively involved in that work and feedback to the Leadership Team as necessary. All the trustees of the charity are also part of the Leadership Team. Meetings to discuss the ongoing objectives and activities of the church, open to all members and regular attenders are held at least twice a year with further Church Family Forums on the last Tuesday of each month when we meet on the church premises for prayer and discussion.
Page **3** of **16**
New trustees 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 existing trustees.
## **Financial review**
Unrestricted funds income for the year rose by £42,915 from £84,260 in 2023/24 to £127,175. A legacy of £27,631 was received in February 2025 from the estate of a long serving and faithful church member. In addition, income from the church café increased by £5,844 to £23,207, largely due to the increased footfall in the café. The trustees acknowledge with thanks the continued and faithful support given during this last year.
Total unrestricted expenditure was £94,734, increased from £86,213 in 2023/24. Of this, £6,837 related to the replacement of the flooring in the Fellowship Room and Creche area, which had become unserviceable. The £12,484 restricted fund expenditure relates to depreciation.
The result for the year was an overall surplus, including restricted funds, of £19,557 compared with a deficit of £(14,519) in 2023/24.
## **Reserves Policy**
The trustees have determined that the charity should aim to hold free reserves (defined as total unrestricted funds less fixed assets) of no less than £22,000 (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 reserves of £52,897 (2023/24 £18,904). This includes £30,000 that has been designated by the trustees towards the potential cost of employing an additional worker.
## **Key risks and uncertainties**
The charity is exposed to various 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**
The tarmac area at the rear of the premises is to be replaced in 2025 due to wear and tear and to make the surface more suitable for children and toddlers. The recruitment of a Families Worker is also being considered, to work alongside our existing Church Community Worker.
## **Responsibilities of directors under company law**
The directors are responsible for preparing the trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (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 its incoming resources and application of resources, including income and expenditure, for the financial year. In preparing these financial statements, the directors are required to:
1. select suitable accounting policies and apply them consistently;
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 any material departures disclosed and explained in the financial statements; and
Page **4** of **16**
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 keeping 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 taking reasonable steps for the prevention and detection of fraud and other irregularities.
## **Approval**
This report was approved by the directors on 26 June 2025, and signed on their behalf by:
## **P H Bedford**
Company number: 07533316 Charity number: 1140895
Page **5** of **16**
## **INDEPENDENT EXAMINER'S REPORT**
## **TO THE TRUSTEES OF**
## **WELLSPRINGS COMMUNITY CHURCH**
## **('the Company')**
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2025 on pages 7 to 16 following, which have been prepared on the basis of the accounting policies set out on pages 9 and 10.
## **Responsibilities and basis of**
## **report**
As the charity’s trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible 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 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.
## **Independent examiner’s statement**
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
1. 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 the accounting requirements of section 396 of the 2006 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 reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
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: Darren Warren Darren Warren FMAAT Paxton Independent Examiners 6 Alfred Street Rushden NN10 6YS
Date: 30 June 2025
Page **6** of **16**
## **WELLSPRINGS COMMUNITY CHURCH**
## **STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT**
## **FOR THE YEAR ENDED 31 MARCH 2025**
|Note
**INCOME AND ENDOWMENTS FROM:**
Donations and legacies
3
Charitable activities
4
**Total income and endowments**
**EXPENDITURE ON:**
Charitable activities:
5
**Total expenditure**
**Net income/(expenditure)**
**Transfers between funds**
14
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
**Total funds carried forward**
14|Unrestricted
Funds
£
98,309
28,866
127,175
94,734
94,734
32,441
(2,000)
30,441
410,674
441,115|Restricted
Funds
£
-
-
-
12,484
12,484
(12,484)
2,000
(10,484)
335,939
325,455|Total
Funds
2025
£
98,309
28,866
127,175
107,218
107,218
19,957
-
19,957
746,613
766,570|Total
Funds
2024
£
63,195
21,065|
|---|---|---|---|---|
|||||84,260|
|||||98,779|
|||||98,779|
||||||
|||||(14,519)
-|
|||||(14,519)
761,132|
|||||746,613|
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 also complies with the requirements for an income and expenditure account required by the Companies Act 2006.
The notes on pages 9 to 16 form part of these accounts.
Page **7** of **16**
## **WELLSPRINGS COMMUNITY CHURCH**
## **BALANCE SHEET**
## **AS AT 31 MARCH 2025**
|Unrestricted
Funds
Note
£
**FIXED ASSETS**
Tangible assets
7
388,218
388,218
**CURRENT ASSETS**
Debtors
8
6,912
Cash at bank and in hand
9
48,499
55,411
**CREDITORS: Amounts falling**
**due within one year**
10
2,514
**Net current assets / (liabilities)**
52,897
**Total assets less current liabilities**
441,115
**CREDITORS: Amounts falling due**
11
-
**after more than one year**
**TOTAL NET ASSETS**
441,115
**FUND BALANCES**
14
Unrestricted Funds
General funds
22,897
Designated funds
418,218
441,115
Restricted Funds
-
441,115|Restricted
Funds
£
325,455
325,455
-
-
-
-
-
325,455
-
325,455
-
-
-
325,455
325,455|Total
Funds
2025
£
713,673
713,673
6,912
48,499
55,411
2,514
52,897
766,570
-
766,570
22,897
418,218
441,115
325,455
766,570|Total
Funds
2024
£
729,709|
|---|---|---|---|
||||729,709|
||||2,253
25,600|
||||27,853
6,524|
||||21,329|
|||||
||||751,038
(4,425)|
||||746,613|
||||18,904
391,770|
||||410,674
335,939|
||||746,613|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006 however, in accordance with Section 145 of the Charities Act 2011, the accounts have been examined by an independent examiner and their report has been included in these financial statements.
The directors (who are the charitable company's trustees for the purposes of charity law) acknowledge their responsibilities for:
- (a) ensuring that the charitable company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
- (b) 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 net income or expenditure 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 financial statements have been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.
The financial statements were approved by the Board of Directors on 26 June 2025 and were signed on its behalf by:
P H Bedford, Chair of Trustees
Company number:
The notes on pages 9 to 16 form part of these accounts.
Charity number: 1140895
07533316
Page **8** of **16**
## **WELLSPRINGS COMMUNITY CHURCH**
## **NOTES TO THE ACCOUNTS**
## **FOR THE YEAR ENDED 31 MARCH 2025**
## **1 Statutory Information**
The charity is a charitable company limited by guarantee and is incorporated in the United Kingdom. The company's registered number and registered office address can be found on the Company Information page.
## **2 Accounting Policies**
These financial statements are prepared on a going concern basis, under the historical cost convention.
These financial statements have been prepared in accordance with the "Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) ("the Charities SORP"), with the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland ("FRS 102"), with the Companies Act 2006 and with the Charities Act 2011. The charity meets the definition of a public benefit entity as set out in FRS 102.
The principles adopted in the preparation of the financial statements are set out below.
- a) Going concern The trustees (who are the charitable company's directors for the purposes of company law) have assessed whether the use of the going concern basis is appropriate and have considered possible events or conditions that might cast significant doubt on the ability of the charity to continue as a going concern. The trustees have made this assessment for a period of at least one year from the date of approval of the financial statements. In particular the trustees have considered the charity's forecasts and projections and the possible implications should projected income and / or expenditure vary unexpectedly. The trustees have concluded that there is a reasonable expectation that the charity has adequate resources to continue to operate for the foreseeable future. The charity therefore continues to adopt the going concern basis in preparing its financial statements.
## b) Income
Income including investment income is recognised in the period in which the charity becomes entitled to receipt, the amount receivable can be measured with reasonable certainty, and receipt is probable. For the most part, income is generally recognised when it is received. Income is only deferred when the charity has to fulfil conditions before becoming entitled to it or where the donor has specified that the income is to be expended in a future period.
Income from donations and legacies includes:
- i) Recoverable gift aid. This is recognised when the related donation is received. Gift aid that has not been recovered by the balance sheet date is included as a debtor.
- ii) Donated facilities, services, fixed assets and goods. These are recognised as income when receivable at their value to the charity.
- iii) Legacies. Income from legacies is recognised when a distribution is received from the estate or, if earlier, when the charity has been notified that a distribution will be made and the amount receivable can be measured reliably.
The charity relies on volunteers to carry out many of its activities. However, in accordance with the SORP, the value of these services has not been included in these financial statements as they cannot be reliably measured.
## c) Expenditure
Expenditure, including irrecoverable VAT, is recognised when it is incurred or, if earlier, when a legal or constructive obligation for a payment arises provided that it is probable that settlement will be required and the amount of the obligation can be measured reliably.
The charity makes grants to other institutions and individuals to further its charitable objectives. Grants payable are recognised as constructive obligations arise, which is generally when the charity expresses a commitment to the recipient that can be measured reliably and then only to the extent that any conditions associated with the grant are outside of the control of the charity.
Governance costs, which are included in expenditure on charitable activities but are identified separately in the notes to the accounts, includes costs associated with the independent examination of the financial statements, compliance with constitutional and statutory requirements and any other expenditure incurred on the strategic management of the charity.
Page **9** of **16**
## **WELLSPRINGS COMMUNITY CHURCH**
## **NOTES TO THE ACCOUNTS**
## **FOR THE YEAR ENDED 31 MARCH 2025**
## d) 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 comprise unrestricted funds that have been set aside by the trustees for particular purposes. Restricted funds are donations which are to be used in accordance with specific restrictions imposed by donors; they include donations received from appeals for specific activities or projects.
## f) Tangible fixed assets
Items purchased or donated for the charity's own use are capitalised when the cost of purchased items, or the fair value of donated items, is more than £200 and the item is expected to benefit the charity over more than one accounting period. Depreciation is charged on a straight line basis so as to write down the value of each asset to its estimated residual value (if any) over its expected useful economic life. To achieve this objective the following rates of depreciation are charged from the date that assets are brought into use:
Freehold buildings Over 100 years Fixtures and fittings Over 10 years Equipment Over 5 years Portable computer equipment Over 3 years
The carrying values of tangible fixed assets are reviewed for impairment in periods when events or changes in circumstances indicate that the carrying value may not be recoverable.
- j) Pension scheme arrangements The charity operates defined contribution pension schemes for its employees. Obligations for contributions to these schemes are recognised as an expense when the liability arises. The assets of these schemes are held separately from those of the charity in independently administered funds.
## k) Taxation
The company is a registered charity; it has taken advantage of the various reliefs from taxation available to charities and no tax is payable on the charity's income.
## n) Exemption from preparing a cashflow statement
The charity has taken advantage of an exemption conferred by the Charities SORP and has not prepared a cash flow statement.
- o) Critical accounting estimates and areas of judgement
- The trustees do not consider that there any material sources of estimation or uncertainty at the balance sheet date that could result in a material adjustment to the carrying values of assets and liabilities in the next reporting period.
## **3 Donations and legacies**
|Donations
Other grants receivable
Legacies receivable
Income tax recoverable|Unrestricted
Funds
£
58,793
27,631
11,885
98,309|Restricted
Funds
£
-|Total
Total
2025
2024
£
£
58,793
53,209
-
-
27,631
-
11,885
9,986
98,309
63,195|
|---|---|---|---|
- **4 Income from charitable activities**
|**me from charitable activities**|||||
|---|---|---|---|---|
|Community outreach programs|Unrestricted
Funds
£
28,866
28,866|Restricted
Funds
£
-
-|Total
2025
£
28,866
28,866|Total
2024
£
21,065|
|||||21,065|
Page **10** of **16**
## **WELLSPRINGS COMMUNITY CHURCH**
## **NOTES TO THE ACCOUNTS**
## **FOR THE YEAR ENDED 31 MARCH 2025**
## **5 Charitable expenditure**
|**a**
**Costs incurred directly on specific activities**
Salaries, travel and expenses
Telephone, stationery and utilities
Gifts to speakers
Maintenance
Youth activities and clubs
Local outreach activities
Other running costs
Grants payable (note 6c)
**b**
**Costs incurred on support & administration**
Governance costs
Cost of independent examination
Bank loan interest payable
Depreciation of tangible fixed assets
Insurance
**Total expenditure**
**C**
**Grants payable**
Grants for UK and overseas mission
Grants for the relief of poverty
The comparatives for the previous year are as follows:
Grants for UK and overseas mission
Grants for the relief of poverty
The charity's principal grants to institutions comprised:
The Leprosy Mission
Open Doors UK
Wycliffe Bible Translators
France Mission
ECM International
Grants to institutions for less than £750 each|Unrestricted
Funds
£
40,646
7,203
300
14,583
3,764
8,410
2,738
7,770
85,414
720
286
5,652
2,662
9,320
94,734|Restricted
Funds
£
-
12,484
12,484
12,484
Institutions
£
4,325
2,000
6,325
Institutions
£
3,900
2,050
5,950|Total
2025
£
40,646
7,203
300
14,583
3,764
8,410
2,738
7,770
85,414
720
286
18,136
2,662
21,804
107,218
Individuals
£
900
545
1,445
Individuals
£
700
943
1,643
2025
£
900
900
900
900
900
1,825
6,325|Total
2024
£
37,886
8,348
650
9,183
3,509
7,424
2,214
7,593|
|---|---|---|---|---|
|||||76,807|
|||||720
388
18,755
2,109|
|||||21,972|
|||||98,779|
|||||2025
£
5,225
2,545|
|||||7,770|
|||||2024
£
4,600
2,993|
|||||7,593|
|||||2024
£
800
825
875
900
-
2,550|
|||||5,950|
Page **11** of **16**
## **WELLSPRINGS COMMUNITY CHURCH**
## **NOTES TO THE ACCOUNTS**
## **FOR THE YEAR ENDED 31 MARCH 2025**
## **6 Analysis of staff costs, the cost of key management personnel and trustee remuneration and expenses**
|Gross wages and salaries
Social security
Pension costs
Other employment costs|2025
2024
£
£
32,455
29,815
129
129
3,835
4,150
4,227
3,792
40,646
37,886|
|---|---|
The average monthly number of employees during the year was 2 (2024: 2). Most of the charity's activities are carried out by volunteers. No staff received salaries at a rate of more than £60,000 per annum.
The charity's key management comprise the trustees and the key staff named on the Company Information page. Total employment benefits payable to key management for the year were as follows:
|Church Community Worker
Michael Tiffany
The following amounts were charged in the previous year:
Church Community Worker
Michael Tiffany|Employer
Wages &
pension
salaries contributions
23,430
3,781
Employer
Wages &
pension
salaries contributions
20,489
4,150|2025
£
27,211|
|---|---|---|
|||2024
£
24,639|
In addition the charity incurred expenditure totalling £3,542 (2024: £3,225) in respect of the customary provision of accommodation to Michael Tiffany so that he could better perform his duties.
No other trustees (or anyone connected to them) received employment benefits in either the current or preceding year.
## **7 Tangible fixed assets**
|Cost
At 31 March 2024
Transfers
Additions
Disposals
At 31 March 2025
Accumulated depreciation
At 31 March 2024
Charge for the year
Disposals
At 31 March 2025
Net book value
At 31 March 2025
At 31 March 2024|Freehold
Property
£
743,450
743,450
69,709
7,472
77,181
666,269
673,741|Fixtures,
fittings and
equipment
£
110,568
2,102
(956)
111,714
54,600
10,664
(954)
64,310
47,404
55,968|Total
2025
£
854,018
-
2,102
(956)|
|---|---|---|---|
||||855,164|
||||124,309
18,136
(954)|
||||141,491|
||||713,673|
||||729,709|
Page **12** of **16**
**NOTES TO THE ACCOUNTS**
## **WELLSPRINGS COMMUNITY CHURCH**
## **FOR THE YEAR ENDED 31 MARCH 2025**
Freehold property comprises church premises and a residential property, which were transferred from Wellsprings Chapel on 6 April 2011. The properties were transferred at their estimated market values at that time, which amounted to £434,802.
## **8 Debtors**
|Tax recoverable
Prepayments and accrued income
**9**
**Cash at Bank and in Hand**
Cash at bank with immediate access
Petty cash
**10**
**Creditors: liabilities falling due within one year**
Trade creditors
Taxation and social security
Accruals
Bank Loans
Member loans
**11**
**Creditors: amounts falling due after more than one year**
Bank Loan
Member loans (see Note 16)|2025
£
5,306
1,606
6,912
2025
£
47,689
810
48,499
2025
£
1,172
1,343
-
-
2,515
2025
£
-
-
-|2024
£
779
1,474|
|---|---|---|
|||2,253|
|||2024
£
25,052
548|
|||25,600|
|||2024
£
1,635
1,208
978
2,703|
|||6,524|
|||2024
£
4,425
-|
|||4,425|
## **12 Bank & Member Loans**
|Loans repayable by instalments falling due:
Within one year
Between one and five years
After five years|2025
2024
£
£
2,702
-
-
2,702
Member loans|2025
2024
£
£
978
4,425
-
-
-
5,403
Bank loans|2025
2024
£
£
978
4,425
-
-
-
5,403
Bank loans|
|---|---|---|---|
||||5,403|
As at 31 March 2024, the charity had a bank loan from The Charity Bank secured on the charity's residential property, with a term of 20 years, expiring October 2028, with interest charged at 6.5%. The loans from church members were unsecured and interest free. All these loans were repaid in 2024/2025 and the charge on the property has been released.
Page **13** of **16**
## **WELLSPRINGS COMMUNITY CHURCH**
## **NOTES TO THE ACCOUNTS**
## **FOR THE YEAR ENDED 31 MARCH 2025**
## **13 Pension commitments**
During the year employer’s pension contributions totalling £3,835 (2024: £4,150) were payable to defined contribution personal pension schemes. Pension contributions of £423 in respect of March 2025 were owing at the balance sheet date (2024: £359).
## **14 Funds**
During the year the movements in the charity's funds were as follows:
|Unrestricted general funds
Designated fixed asset fund
Designated Familes Worker fund
Total Unrestricted Funds
_Restricted Funds_
Building fund for new extension
Aggregate of funds|Opening
balance
31.3.24
£
18,904
391,770
410,674
335,939
335,939
746,613|Incoming
resources
2025
£
127,175
-
127,175
-
127,175|Outgoing
resources
2025
£
(91,182)
(3,552)
(94,734)
(12,484)
(12,484)
(107,218)|Transfers
in the year
2025
£
(32,000)
30,000
(2,000)
2,000
2,000
-|Closing
balance
31.3.25
£
22,897
388,218
30,000|
|---|---|---|---|---|---|
||||||441,115|
||||||325,455|
||||||325,455|
||||||766,570|
## **15 Funds continued**
## **Analysis of net assets by fund**
The assets and liabilities of the various funds were as follows:
|assets and liabilities of the various funds were|as follows:|as follows:|||
|---|---|---|---|---|
||Unrestricted funds||||
||General|Designated|Restricted||
||funds|funds|funds|2025|
||£|£|£|£|
|Fixed assets||388,218|325,455|713,673|
|Debtors and prepayments|6,912|||6,912|
|Cash at bank and in hand|18,499|30,000||48,499|
|Current liabilities|(2,514)|||(2,514)|
|Non-current liabilities||||-|
||22,897|418,218|325,455|766,570|
Page **14** of **16**
In the previous year the movements in the charity's funds were as follows:
|Unrestricted general funds
Designated fixed asset fund
Total Unrestricted Funds
_Restricted Funds_
Building fund for new extension
Total Restricted Funds
Aggregate of funds|Opening
balance
31.3.23
£
10,398
404,224
414,622
346,510
346,510
761,132|Incoming
resources
2024
£
84,260
-
84,260
-
84,260|Outgoing
resources
2024
£
(80,024)
(6,189)
(86,213)
(12,566)
(12,566)
(98,779)|Transfers
Closing
in the year
balance
2024
31.3.24
£
£
(1,995)
12,639
398,035
(1,995)
410,674
1,995
335,939
1,995
335,939
-
746,613|
|---|---|---|---|---|
## **Analysis of net assets by fund**
The assets and liabilities of the various funds were as follows:
|Fixed assets
Debtors and prepayments
Cash at bank and in hand
Current liabilities
Non-current liabilities||General
Designated
funds
funds
£
£
391,770
2,253
25,600
(4,524)
(4,425)
18,904
391,770
Unrestricted funds|Restricted
funds
£
337,939
(2,000)
335,939|31.3.24
£
729,709
2,253
25,600
(6,524)
(4,425)|
|---|---|---|---|---|
|||General
funds
£
2,253
25,600
(4,524)
(4,425)
18,904|||
|||||746,613|
The **designated fixed asset fund** represents the charity's investment in fixed assets; these resources are not readily available to fund the charity's day to day operations.
The **restricted building fund** is for the new extension and café area to the church, complete with a new and enlarged kitchen, and a major refurbishment of other parts of the property, completed in 2021.
The **designated families worker fund** is earmarked towards the employment costs of an additional worker, to be recruited in 2025/2026
## **16 Transactions with related parties**
During 2024/25 the charity received donations totalling £17,325 (2024: £14,685 ) from trustees and related parties. During the year, the remaining £702 trustee loan and £2000 in other loans from members were fully repaid.
## **17 Members**
Each member of the company commits to contribute if the charity is wound up an amount of £1.
Page **15** of **16**
## **WELLSPRINGS COMMUNITY CHURCH**
## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES WITH COMPARATIVES**
## **FOR THE YEAR ENDED 31 MARCH 2025**
|Note
**INCOME AND ENDOWMENTS FROM:**
Donations and legacies
3
Charitable activities
4
Investments
**Total income and endowments**
**EXPENDITURE ON:**
Charitable activities:
5
**Total Expenditure**
**Net income/(expenditure)**
**Transfers between funds**
14
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
**Total funds carried forward**
14|**General**
2025
2024
£
£
98,309
63,195
28,866
21,065
-
-
127,175
84,260
91,182
80,024
91,182
80,024
35,993
4,236
(32,000)
(1,995)
3,993
2,241
18,904
16,663
22,897
18,904
**Unrestricted Funds**|**Designated**
2025
2024
£
£
-
-
-
-
-
-
-
-
3,552
6,189
3,552
6,189
(3,552)
(6,189)
30,000
-
26,448
(6,189)
391,770
397,959
418,218
391,770
**Unrestricted Funds**|2025
2024
£
£
-
-
-
-
-
-
-
12,484
12,566
12,484
12,566
(12,484)
(12,566)
2,000
1,995
(10,484)
(10,571)
335,939
346,510
325,455
335,939
**Restricted Funds**|**Total**
**Funds**
2025
£
98,309
28,866
-
127,175
107,218
107,218
19,957
-
19,957
746,613
766,570|**Total**
**Funds**
2024
£
63,195
21,065
-|
|---|---|---|---|---|---|
||||||84,260|
||||||98,779|
||||||98,779|
||||||(14,519)
-|
||||||(14,519)
761,132|
||||||746,613|