THE WELL KIBWORTH (CIO)
Charity No 1179660
TRUSTEES REPORT FOR THE YEAR TO 31[ST] DECEMBER 2022
PRINCIPAL ADDRESS:
45 High Street, Kibworth Beauchamp, Leicester, LE8 0HS
TRUSTEES:
Rev’d Mary J Ireland (Chair) Mr Peter Hayes Treasurer until Jan 2022 Mrs Christine Pierce resigned May 2022 Mr Jamie T Witcombe resigned October 2022 Mr James Hunt resigned October 2022 Mr Peter Thorn Mrs Sue Wyburn Mrs Anne Gregory-Reid Mrs Anne Headley Treasurer from Jan 2022 Ms Melanie Wheeler nominated September 2022 Mr Richard Davis appointed December 2022
STRUCTURE, GOVERNANCE AND MANAGEMENT
The charity is a Charitable Incorporated Organisation (CIO), registered on 24[th] August 2018. Its governing document is the Constitution dated 1[st] June 2018. The CIO took over the assets, liabilities, contracts and operations of unincorporated charity no. 1125246, also named The Well Kibworth, as at 1[st] January 2019 in accordance with a Resolution of the members of the unincorporated charity at its AGM on 3[rd] May 2018.
The schedule of Trustees above shows the changes in trusteeship during the year.
The members of the CIO, as per paragraph 16 of its Constitution (the Constitution), are its trustees for the time being. The Constitution sets out an initial term of office for each trustee following which a trustee may be re-appointed to a maximum term of four years. New trustees are appointed for an initial term of four years. As well as appointed trustees, the Constitution allows for the church councils of St Wilfrid’s, Kibworth and Kibworth Methodist Church to each nominate one trustee, again for a period of four years. Rev’d Mary Ireland (Chair) is the nominee for St Wilfrid’s, Kibworth and Ms Melanie Wheeler is the Kibworth Methodist Church nominee. Mr Peter Hayes stepped down as Treasurer in January 2022 and remains a trustee. The Well is very grateful to Peter for all his considerable work as Treasurer, and for his continuing guidance and support. Mrs Anne Headley has taken over the duties of Treasurer from January 2022. In December 2022 the Trustees agreed to the reappointment of Mr R Davis who will become the Vice Chair.
OBJECTIVES AND ACTIVITIES
The principal object of the charity is to advance the Christian faith in the villages of Kibworth and the surrounding area by the provision of facilities for the social welfare of individuals. This has continued through daily prayer and through the welcome to all, provided in the Coffee Shop and Charity Shop, as well as through more focussed activities such as Dementia group and, from the start of lockdown in March 2020, a foodbank facility. The work of the foodbank, initially set up in response to Covid, has continued and expanded due to the current cost of living crisis. The café is now a member of the Chatty Café scheme.
ACHIEVEMENTS AND PERFORMANCE
The Well is firmly established within the community and continues to provide an essential facility. The trustees meet regularly to review the operation and progress of The Well and, individually, undertake voluntary duties as they are able.
Christine Faulconbridge, appointed as Outreach Manager from July 2021 left The Well in the summer of 2022 as part of a management restructure. Nicky Scarr continues in her role Café Manager and Andy Wright in the full-time position as Operations Manager. All three managers have made a very positive contribution to the work of The Well and the Trustees are extremely grateful to them for their hard work and commitment to the success of The Well. A generous three-year grant from the FiftyFour Two Foundation has allowed the Trustees the financial freedom to invest more in management support and this has proved to be a very positive step forward.
Income from the shop and café continues to grow steadily and the trustees wish to record their thanks to the staff and all the volunteers who work so hard in the shop, café and foodbank. Going forward the intention is to increase the opening hours of the shop and café, introducing a Saturday morning. This is however dependent on having sufficient willing volunteers. Recruiting and retaining volunteers remains a challenge for the trustees.
The foodbank continues to occupy the ground floor of 47 High Street, next door to The Well’s main premises, supported by grants from Leicestershire County Council (LCC) as well as individual and corporate donations. The lease has now been formalised and arrears of rent have been settled.
The foodbank is now operating in partnership with the South Leicestershire Foodbank. The new system allows greater opportunity to engage with clients and signpost to support services, making referrals where necessary.
Partner organisations make use of the café and sanctuary to meet with clients in the now well-established Thursday drop-ins.
FINANCIAL ACCOUNTING POLICY
In accordance with Charity Commission guidelines, accounts are prepared on a cash accounting basis. Alongside this Report, please also see the Statement of Financial Activities (SOFA) and Balance Sheet, the Notes to the Accounts and the Independent Examiner’s Report.
FINANCIAL REVIEW
The Well’s main sources of income are from the café and charity shop as well as grants and donations. The shop and café income has continued to grow through 2022 and individual donors to The Well have continued to give generously with both financial and food contributions. Without this support and that of the LCC and FiftyFour Two Foundation, The Well could not continue to offer its current level of service.
The charity’s funds are invested in accounts with HSBC UK Bank and Market Harborough Building Society.
Approved by the trustees on 6 February 2022 and signed on behalf of the trustees.
THE WELL KIBWORTH (CIO)
Charity No 1179660
NOTES TO THE ACCOUNTS – 31ST DECEMBER 2022
1. Accounting policies
-
(a) Basis of accounting. These accounts have been prepared on a cash accounting basis.
-
(b) Recognition of incoming resources.
-
(i) Gifts in kind for sale or distribution are included in the accounts as gifts only when sold by the charity.
-
(ii) Grants and donations are only included in the Statement of Financial Affairs (SOFA) when the charity has either unconditional entitlement to the resources or entitlement subject to the restricted use as allocated in the SOFA..
-
(iii) Money raised or donated for particular purposes is described as ‘segregated’.
-
(iv) Receipts from tax reclaims are included in the SOFA when the tax is reclaimed.
2. Points of Note
The lease for No 47 has been signed and all arrears of rent settled.
The Well aims to keep a general reserve of at least 6 months running costs. This would be a minimum of £36,000. In addition trustees have agreed to set aside £5000 each year in an asset renewal reserve to cover the costs of major equipment renewal or refurbishment if required.
At 2022 year end the general reserve was £39,699.
3. Trustees – Reimbursement of Expenses 2022 2021
Number of trustees who were paid for 1 3 re-imbursement of out-of-pocket expenses
| 2022 £ |
2021 £ |
|
|---|---|---|
| Sundry Equipment | - | 178 |
| Maintenance | 241 | 23 |
| Miscellaneous costs | - | 100 |
| Foodbank Costs | 695 | 333 |
| Total | 936 | 634 |
THE WELL, KIBWORTH (CIO)
Charity No. 1179660
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31st DECEMBER 2022
| 2022 General Fund Segregated Funds TOTAL INCOME Donations - individua 6988 6988 Donations - other 1000 284 1284 Foodbank Donations 10534 10534 Fund raising 0 Gift aid 1627 1364 2991 Charity Shop sales 19170 19170 Books & Cards 392 392 Coffee shop sales 45739 700 46439 Interest received 167 167 Other income 1182 21155 22337 76266 34038 110304 EXPENDITURE Employee costs 27755 14464 42219 Staff costs- training c 230 230 Shop costs 122 122 Coffee shop purchas 16024 16024 Foodbank costs 4846 4846 Rent 7500 12835 20335 Rates and water 721 721 Cleaning 2789 2789 Waste disposal 626 626 Insurance 580 265 845 Heat and light 3012 3012 Telephone, Internet & 466 814 1281 Stationery, postage & 598 348 946 Sundry equipment 806 1809 2615 Miscellaneous 3700 1121 4820 Music Licence 341 341 Finance Charges 868 868 Asset Reserve 5000 -5000 0 Café Refurb. & re-op 1665 4267 5932 Repairs & Maintenan 3028 176 3204 75830 35945 111775 Net Surplus (-Shortfa 436 -1907 -1471 |
2021 General Fund Segregated Funds TOTAL 3289 881 4170 3010 3010 10329 10329 540.00 540 1053 1068 2121 12704 611 13315 290 290 17441 731 18172 166 166 6076 30839 36915 |
|---|---|
| 44569 44459 89028 |
|
| 13810 9942 23752 427 427 88 60 148 5115 5115 6942 6942 4500 4500 9000 529 213 742 893 266 1159 393 502 895 541 541 872 814 1686 651 566 1217 518 26 544 13 3399 3412 21 1798 1819 0 984 984 78 1654 1732 |
|
| 28022 32093 60115 |
|
| 16547 12366 28913 |
THE WELL, KIBWORTH (CIO) Charity No 1179660 BALANCE SHEET FOR THE YEAR ENDED 31ST DECEMBER 2022
ACCUMULATED FUNDS
| Restricte | ||||
|---|---|---|---|---|
| General | d Funds | |||
| Fund | TOTAL | |||
| Bt. Fwd. 1st January 2021 | 39263 | 37970 | 77233 | |
| Net Surplus (loss) 2022 | 436 | -1907 | -1471 | |
| Carried Fwd. 31st December | 20 | 39699 | 36063 | 75762 |
REPRESENTED BY
| Market Harb.B.Soc. Instant Access | 11024 | 11024 | |
|---|---|---|---|
| Market Harb.B.Soc. 60 Day Notice | 13321 | 13321 | |
| HSBC Bank - Current Account | 4596 | 4596 | |
| - Savings | 35363 | 11718 | 47081 |
| -Commercial card | -539 | -539 | |
| PayPal | 0 | 0 | |
| Cash in hand | 279 | 279 | |
| 39699 | 36063 | 75762 |
| Funds | ||||
|---|---|---|---|---|
| Donated | Balance | |||
| Balance Bt. | or | Funds | c/fwd | |
| Fwd. | Allocated | Used | 31/12 | |
| 1/1/2022 | 2022 | 2022 | 2022 | |
| SEGREG | ||||
| ATED | ||||
| FUNDS | ||||
| Donation - CAP work | 3212 | 0 | 0 | 3212 |
| Donations - Dementia Café | 488 | 100 | 97 | 491 |
| LDBF grant - youth work | 9 | 0 | 0 | 9 |
| KBREF -re youthwork | 500 | 0 | 0 | 500 |
| Teamwork Club - Youth work | 1043 | 0 | 0 | 1043 |
| Kibworth Rotary Club re Girls G | 250 | 0 | 0 | 250 |
| LCC Community Grant re 47 Hi | 5039 | 0 | 5039 | 0 |
| HDC Covid grants 2021 | 870 | 0 | 870 | 0 |
| LCC Community Grant 2021/22 | 7908 | 0 | 7908 | 0 |
| LCC Community Grant 2022/23 | 0 | 5000 | 1260 | 3740 |
|---|---|---|---|---|
| Wooden Spoon/Xmas Toys | 579 | 500 | 1079 | 0 |
| Foodbank Fund | 13227 | 12616 | 9144 | 16700 |
| Café Improvement Fund | 3981 | 284 | 4266 | -1 |
| LCC Household Support Grant | 864 | 0 | 864 | 0 |
| LCC Household Support Grant | 0 | 910 | 910 | 0 |
| LCC Household Support Grant | 0 | 2000 | 217 | 1783 |
| Asset Reserve | 0 | 5000 | 0 | 5000 |
| FiftyFour Two Foundation | 0 | 10000 | 6664 | 3336 |
| 37970 | 36410 | 38318 | 36063 |
Independent examiner's report to the trustees of The Well Kibworth (C.l.O.) Charity no. 1179660 I port to the trustees on my examination of the accounts of The Well Kibworth (the Trust) for the year ended 31 Dember 2022. Responsibllltles and basis of report As the charity trustees of the Trust you are resF)onsible for the preparation of the accounts in accordan with the requirements of the Charities Act 2011 ('the Act'i. I report in respect of my examination of thè Trust's accounts carried out under section 145 of Ihe 2011 Act and in carrying out my examination I have followed all the appli¢able Directions given by the Charity Commission under section 14515)(b) of the Act. Independent oxamlneV8 Statement I have completed my examination. I confimi that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect.. (1) accounting records were not kept in respect of the Trust as required by section 130 of the Act,. or (2) the accounts do not accord with those records. I have no concems 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. Robert Tidd ACIB 63 Meadowbrook Road Kibworth Beauchamp Leicesler LE8 OHU Date: 19 .January 2023