THE WELL KIBWORTH cio Charity No 1179660 TRUSTEES REPORT FOR THE YEAR TO 31ST DECEMBER 2023 PRINCIPAL ADDRESS: 45 High Street, Kibworth BeauGhamp, Leicesler, LE8 OHS TRUSTEES: Rev'd Mary J Ireland Mr Richard Davis Mrs Anne Headley Mr Peter Hayes Mr Peter Thorn Mrs Sue Wybum Mrs Anne Gregory-Reid Ms Melanie Wheeler Mr M Wyatt Mr E Wilding (Chairl (Vice Chairl Treasurer Appointed 27 September 2023 Appointed 27 September 2023 STRUCTURE, GOVERNANCE AND MANAGEMENT The charity is a Charitable Incorporated Organisation ICIOI, registered on 24th August 2018. Its governing document is the Constitution dated 1$1 June 2018. The CIO took over the assels, liabilities, Gontracts and operations of uninGorporated charity no. 1125246, also named The Well Kibworth, as at 1 Sl January 2019 in accordance with a Resolution of the members of the unincorporated charity at its AGM on 3rd 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 Conslitution), 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-apFX)inted to a maximum lerm of four years. New trustees are appointed for an initial term of four years. As well as appointed Iruslees, the Constilution allows for the church councils of St Wilfrid's. Kibworth and Kibworth Methodist Church to each nominate one trustee. again for a period offour years. Rev'd Mary Ireland (Chairl is the nominee for St Wilfrid's, Kibworth and Ms Melanie Wheeler is the Kibworth Methodist Chur nominee. OBJECTIVES AND ACTivrriES 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 prayerand through the welcometo all, provided in the Coffeeshop and Charity Shop, as well asthrough 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 sel 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 Gontinues to provide an essential facility. The trustees meet regularly to review the operation and progress of The Well and, individually, undertake voluntsry duties as they are able. Nicky Scarr continues in her role Café Manager and Andy Wright in the f ull-time tx)sition as Operations Manager. Both managers have made a very positive contribution to the work of The Well and the Truslees are extremely grateful to them for their hard work and commitment to the success of The Well. A generous three-year grant from Ihe Fifty-Four 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.
The Well is also grateful to the MarketHarborough Building Society forils considerable support this year both for the foodbank and development of our outdoor space in the cafe. Leicester County Council Gontinue to be very supportive through the Shire Grant and Household Support Fund. Support has also been welcom f rom the Edith Murphy Foundation and Lucy Marriott Aid-ln-sickness Fund. Donations f rom individuals and income from fundraising activities are keyto the success of The Well. Fundraising activities this yearincluded an event at Harborough Theatre. a concert given by The Kibworth Band and monies raised by Kibworth Firefighters climbing Ben Nevis. 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. The cafe is a member of the Chatty Cafe Scheme. This means that welcoming volunteer are hosts are on hand to chat with cafe customers. The shop, refurbished in the Summer of 2023, has now extended its opening hours to include Saturday mornings. Recruiting and retaining volunteers remains a challenge for the trustees. The foodbank, based at 47 High Street, continues to operate in partnership with the South Leicestershire Foodbank. The system allows greater opportunity to engage with clients and signposl to supwrt services. making referrals where necessary. 308 vouchers were fulfilled through the Trussell Trust scheme in 2023. In addition, a further 127 parcels were issued beeen September 2023 (when records beginl lo Decemb 2023. Partner organisations make use of the café and sanctuary to meet with clients in the now well-established Thursday drop-ins. Residents can receive free support and advice on issues such as mental and physical health and well-being, housing, debt. budgeting and, welfare benef its. 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 AGGounls 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 2023 and individual donors to The Well have continued to give generously with both f inancial and food contributions. Without this SUPFX)rt and that of the LCC, Markd Harborough Building Society and Fifty-Four 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 Scoiety. Approved by the trustees on 4 March 2024 and signed on behalf of the trustees. hai
THE WELL KIBWORTH (CIO) Charity No 1179660 NOTES TO THE ACCOUNTS- 31ST DECEMBER 2023 Accountin olicies lal Ibl Basis of accounling. These accounts have been prepared on a cash accounting basis. Recognition of incoming resources. Gifts in kind for sale or distribution are included in the accounts as gifts only when sold by Ihe charity. Grants and donations are only included in the Statement of Financial Affairs (SOFA) when the Gharity has either unconditional entitlement lo the resources or entitlement subject lo the restricted use as allocated in the SOFA.. Money raised or donated for particular purposes is described as 'segregated'. Receipts from tax reclaims are included in the SOFA when the tsx is reclaimed. {iv) Points of Note The Well aims to keep a general reserve of at least 6 months running costs. This would be a minimum £57,000. In addition, trustees have agreed to set aside £5000 each year in an asset renewal reseNe to cov the costs of major equipment renewal or refurbishment rf required. AI 2023 year end the general reserve was £81,740. Trustees- Reimbursement of Expenses 2023 2022 Number of trustees who were paid for r&imbursement of out-of-pocket expenses 2023 2022 Sundry Equipment Maintenance 1460 241 Miscellaneous costs 183 Foodbank Costs 695 Total 1707 936
THE WELL, KIBWORTH (CIO) Charity No. 1179660 STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31st DECEMBER 2023
| INCOME Donations - individuals Donations - other Foodbank Donations Fund raising Gift aid Charity Shop sales Books & Cards Coffee shop sales Interest received Other income EXPENDITURE Employee costs Staff costs- training courses Shop costs Coffee shop purchases Foodbank costs Rent Rates and water Cleaning Waste disposal Insurance Heat and light Telephone, Internet & website Stationery, postage & print Sundry equipment Miscellaneous Music Licence Finance Charges Asset Reserve Café Refurb. & re-open costs Repairs & Maintenance Net Surplus (-Shortfall) |
2023 General Fund Segregated Funds TOTAL 10614 10614 1200 1200 11746 11746 2613 2613 1652 1769 3421 28000 28000 9 9 69151 152 69303 1314 1314 7931 36594 44525 122484 50261 172745 21531 23320 44851 0 0 1092 1092 20610 20610 7057 7057 9000 5040 14040 1806 1806 2491 2491 545 545 653 373 1026 3701 3701 1559 1559 1067 1067 1312 1312 4390 3074 7464 542 542 1272 1272 5000 -5000 0 0 3872 1272 5144 80443 35136 115579 42041 15125 57166 |
2022 General Fund Segregated Funds TOTAL 6988 6988 1000 284 1284 10534 10534 0 1627 1364 2991 19170 19170 392 392 45739 700 46439 167 167 1182 21155 22337 |
|---|---|---|
| 76266 34038 110304 |
||
| 27755 14464 42219 230 230 122 122 16024 16024 4846 4846 7500 12835 20335 721 721 2789 2789 626 626 580 265 845 3012 3012 466 814 1281 598 348 946 806 1809 2615 3700 1121 4820 341 341 868 868 5000 -5000 0 1665 4267 5932 3028 176 3204 |
||
| 75830 35945 111775 |
||
| 436 -1907 -1471 |
THE WELL, KIBWORTH (CIO) Charity No 1179660 BALANCE SHEET FOR THE YEAR ENDED 31ST DECEMBER 2023
ACCUMULATED FUNDS
| Bt. Fwd. 1st January 2022 Net Surplus 2023 Carried Fwd. 31st December 2023 |
General Fund Restricted Funds TOTAL 39699 36063 75762 42041 15125 57166 |
|---|---|
| 81740 51188 132928 |
REPRESENTED BY
| Market Harb.B.Soc. Instant Access Market Harb.B.Soc. 60 Day Notice HSBC Bank - Current Account - Savings -Commercial card PayPal Cash in hand |
11112 11112 39591 39591 5323 5323 77562 485 78047 -1448 -1448 0 0 303 303 |
|---|---|
| 81740 51188 132928 |
| SEGREGATED FUNDS Donation - CAP work Donations - Dementia Café LDBF grant - youth work KBREF -re youthwork Teamwork Club - Youth work Kibworth Rotary Club re Girls Group LCC Community Grant 2022/23 LCC Community Grant 2023/24 Edith Murphy Foundation Foodbank Fund LCC Household Support Grant 2023 (a) LCC Household Support Grant 2023 (b) MHBS foodbank rent MHBS Garden Project Asset Reserve FiftyFour Two Foundation |
Balance Bt. Fwd. 1/1/2022 Funds Donated or Allocated 2023 Funds Used 2023 Balance c/fwd 31/12 2023 3212 3212 491 800 103 1188 9 9 500 500 1043 1043 250 250 3740 3740 0 0 5000 3328 1672 0 2000 2000 0 16700 21467 14490 23677 1783 1783 0 0 1750 1153 597 0 7000 1300 5700 0 2244 2244 0 5000 5000 10000 3336 10000 9996 3340 |
|---|---|
| 36064 55261 40137 51188 |
Independent examiner's report to the trustees of The Well Kibworth (C.i.o.) Charity no. 1179660
I report to the trustees on my examination of the accounts of The Well Kibworth (the Trust) for the year ended 31 st December 2023.
Responsibilities and basis of report
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the Trust's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner's statement
I have completed my examination. I confirm 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 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.
Robert Tidd ACIB 63 Meadowbrook Road Kibworth Beauchamp Leicester LE8 OHU
Date:ll January 2024