THE WELL KIBWORTH (CIO)
Charity No 1179660
TRUSTEES REPORT FOR THE YEAR TO 31ST DECEMBER 2024
PRINCIPAL ADDRESS:
45 High Street, Kibworth Beauchamp, Leicester, LE8 0HS
TRUSTEES:
Rev’d Mary J Ireland (Chair) Mr Richard Davis (Vice Chair) Mrs Anne Headley Treasurer Mr Peter Hayes Mr Peter Thorn Mrs Sue Wyburn Mrs Anne Gregory-Reid Ms Melanie Wheeler Resigned 29 July 2024 Mr M Wyatt Mr E Wilding Resigned 14 August 2024
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 there is currently a vacancy for the Kibworth Methodist Church nominee.
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 Youth 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.
Nicky Scarr continues in her role Café Manager and Andy Wright in the full-time position as Operations Manager. Both 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 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. In 2024 the 54:2 Foundation provided the final tranche of funding from its 3-year commitment.
Leicester County Council continue to be very supportive through their allocation of the Household Support Fund. Donations have also been welcomed from the Lucy Marriott Aid-In-Sickness Fund, Kibworth Ladies Choir, Kibworth Band, Kibworth Firefighters, Kibworth Mead Academy, Bromley Enterprises, Neighbourly Community Fund and Platform Housing. Donations from individuals and legacy giving are also key to the success of The Well.
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 volunteers are hosts and are on hand to chat with cafe customers. 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 signpost to support services, making referrals where necessary. 101 vouchers were fulfilled through the Trussell Trust scheme in 2024. In addition, a further 343 parcels were issued directly via self and other agency referrals in the same period. As well as food the service has also been able to assist clients with essential household items such as beds, washing machines, other kitchen electrical equipment and utility bills. At Christmas and in partnership with Kibworth Books in their Community Secret Santa scheme, we were able to provide gifts to 22 individual household members of food bank clients. We also worked with Kibworth Mead Academy to provide gifts to 15 young carers.
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 benefits.
During the year The Well Kibworth was awarded ‘runner-up’ at the Harborough District Council Community Awards in the volunteer and community group of the year category. The Well Kibworth was also a runner up in the Rural Community Council centenary awards.
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. Café income has continued to grow through 2024 whilst income from the shop has remained static. Individual donors to The Well have continued to give generously with both financial and food contributions. Without this support and that of the funders listed above. 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 3 March 2025 and signed on behalf of the trustees.
THE WELL KIBWORTH (CIO)
Charity No 1179660
NOTES TO THE ACCOUNTS – 31ST DECEMBER 2024
1. Accounting policies
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(a) Basis of accounting. These accounts have been prepared on a cash accounting basis.
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(b) Recognition of incoming resources.
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(i) Gifts in kind for sale or distribution are included in the accounts as gifts only when sold by the charity.
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(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..
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(iii) Money raised or donated for particular purposes is described as ‘segregated’.
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(iv) Receipts from tax reclaims are included in the SOFA when the tax is reclaimed.
2. Points of Note
The Well aims to keep a general reserve of at least 6 months running costs. This would be a minimum of £68,000. 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 2024 year end the general reserve was £101,127.
Following an independent review of the tax status of the charity it has become apparent that there may be a retrospective VAT and Corporation Tax liability dating back to 2023. This is in the process of being resolved and will be reflected, if required, in the accounts for 2025.
3. Trustees – Reimbursement of Expenses 2024 2023
| Number of trustees who were paid for | 2 | 2 |
|---|---|---|
| re-imbursement of out-of-pocket expenses |
| 2024 £ |
2023 £ |
|
|---|---|---|
| Sundry Equipment | 35 | 44 |
| Maintenance | 47 | 1460 |
| Miscellaneous costs | 157 | 183 |
| Foodbank Costs | 655 | 0 |
| Total | 894 | 1707 |
THE WELL, KIBWORTH (CIO)
Charity No. 1179660
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31st DECEMBER 2024
| 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 Repairs & Maintenance Net Surplus (-Shortfall) |
2024 General Fund Segregated Funds TOTAL 6400 0 6400 1200 0 1200 0 6435 6435 753 0.00 753 1423 1096 2519 27970 0 27970 0 0 0 79919 1136 81055 2589 0 2589 6509 14873 21382 126763 23540 150303 38667 21966 60633 1562 0 1562 814 0 814 21112 0.00 21112 0.00 5811 5811 12600 5040 17640 1700 0 1700 2826 0 2826 1464 0 1464 714 198 912 3922 0 3922 1282 0 1282 564 0 564 3142 0 3142 5142 2296 7438 594 0.00 594 1411 0.00 1411 5000 -5000 0 4860 0 4860 107376 30311 137687 19387 -6771 12616 |
2023 General Fund Segregated Funds TOTAL 10614 0 10614 1200 0 1200 0 11746 11746 2613 0 2613 1652 1769 3421 28000 0 28000 9 0 9 69151 152 69303 1314 0 1314 7931 36594 44525 |
|---|---|---|
| 122484 50261 172745 |
||
| 21531 23320 44851 0 0 0 1092 0 1092 20610 0 20610 0 7057 7057 9000 5040 14040 1806 0 1806 2491 0 2491 545 0 545 653 373 1026 3701 0 3701 1559 0 1559 1067 0 1067 1312 0 1312 4390 3074 7464 542 0 542 1272 0 1272 5000 -5000 0 3872 1272 5144 |
||
| 80443 35136 115579 |
||
| 42041 15125 57166 |
THE WELL, KIBWORTH (CIO) Charity No 1179660 BALANCE SHEET FOR THE YEAR ENDED 31ST DECEMBER 2024
ACCUMULATED FUNDS
| Bt. Fwd. 1st January 2023 Net Surplus 2024 Carried Fwd. 31st December 2024 |
General Fund Restricted Funds TOTAL 81740 51188 132928 19387 -6771 12616 |
|---|---|
| 101127 44417 145544 |
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 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 MHBS foodbank rent MHBS Garden Project Asset Reserve FiftyFour Two Foundation |
11283 11283 17396 33134 50530 5995 5995 78026 78026 -674 -674 0 0 384 384 101127 44417 145544 Balance Bt. Fwd. 1/1/2023 Funds Donated or Allocated 2024 Funds Used 2024 Balance c/fwd 31/12 2024 3212 3212 1188 495 693 9 9 0 500 500 0 1043 1043 0 250 250 0 0 0 1672 1672 0 0 0 23677 11041 13300 21418 597 2499 3002 94 5700 5040 660 0 0 10000 5000 15000 3340 3340 |
|---|---|
| 51188 18540 25311 44417 |
Independent examiner's report to the trustees of The Well Kibworth (C.l.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 31st December 2024. 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. a*1212 Alison Kind Staunton House Littleworth Lane Belton in Rutland