## **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**
- (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 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