THE WELL CHURCH LOUGHBOROUGH
ACCOUNTS AND ANNUAL REPORT
FOR THE YEAR ENDED
31 DECEMBER 2023
CHARITY NO: 1193827
Cound & Co LLP Chartered Accountants 1 Princes Court Royal Way Loughborough Leics, LE11 5XR
Tel: 01509 214163
FOR THE YEAR ENDED 31 DECEMBER 2023
THE WELL CHURCH LOUGHBOROUGH REPORT AND FINANCIAL STATEMENTS
CONTENTS
| Page | |
|---|---|
| 1 - 5 | Report of the Trustees |
| 6 | Report of the Independent Examiner |
| 7 - 8 | Statement of Financial Activities |
| 9 | Balance Sheet |
| 10 - 13 | Notes forming part of the Financial Statements |
- 1 -
THE WELL CHURCH LOUGHBOROUGH
TRUSTEES REPORT FOR THE YEAR ENDED 31 DECEMBER 2023
The trustees are pleased to present their report together with the financial statements of the charity for the year ended 31 December 2023.
OBJECTIVES
The objectives of the Charity are to advance the Christian faith, to provide relief and support for those in need and the general education of adults and children on the values of Christian principles.
ACTIVITIES/ACHIEVEMENTS AND PERFORMANCE
2023 has been a year of growing for The Well Church, as we have seen many new people connecting with us and joining in. It has been a joy to see our members meeting together regularly again on Sundays as well as during the week, allowing The Well Church to build strong and reach out again.
We continued to enjoy meeting together for our main Sunday meetings, with our average Sunday attendance increasing hugely from 72 to 87. We welcomed 23 new members and three babies during the year and had the great privilege of sending two graduate members and 3 other members to be a strong influence on church life across the world, having helped them to grow, learn and mature through their time with us.
Financial giving increased to £186,534 plus £2143 bank interest (£123,524 in 2022) which allowed us to allocate another £20,000 to our ‘venue fund’ for the eventual purchase of a ministry base for our church. Moving forward, the trustees consider the financial outlook to be very positive and having integrated new members into the church our income will be sufficient to meet all the needs of the church. In May we had our first annual gift day for our ‘Future Opportunities Fund’, which is a fund for a building or other significant future opportunities. A total of £32,653 was given and 10% was given to pay for two church roofs for our friends in Malawi. Due to overall giving throughout the year, we were able to finance a third church roof from the surplus finance!
It has been such a joy to see our children and young peoples’ work flourish this year. Our average number of children attending a Sunday meeting increased from 17 to 23, with children accounting for more than 25% of our Sunday attendance. This ongoing and noticeable change means that the church now feels even more age diverse and family friendly. Five young people travelled to ‘Newday’ camp in August for six days of teaching, worship and socialising with 7,000 young people from other churches across UK and beyond. We have continued ‘Friday Night Hangout’, a space for young people from the local area to hang out and have fun together fortnightly, with an average of 16 young people attending. We had a great social event for our primary-school aged children, to invite friends to and build friendships.
One very exciting area of growth has been our student work. We had around 17 students involved in church life during 2023. We hugely value the life and energy that students bring to the church and still want to equip and encourage students in all that God has for them, so we again ran a student training afternoon, with seminars, teaching, worship and food together. In February, a group of students travelled together to ‘Project23’, a Conference run by the Catalyst Network of Churches for those in their 20s and 30s to be encouraged in faith, church, unbelievers and global mission.
Our student work continues to be one of the areas most affected by the COVID-19 pandemic. We had around 12 students involved in church life during 2022 and we persevered in reaching out to students not yet connected to a church. We hugely value the life and energy that students bring to the church and still want to equip and encourage students in all that God has for them, so we again ran a student training afternoon, with seminars, teaching, worship and food together. Furthermore, in order to meet the individual needs of the student population, we ran several other student events throughout the year with a combination of teaching, worship and social time.
Jack Taylor, our intern for 2022-2023, had the opportunity to take a mission trip to Sweden. The church contributed £502 towards his travel and living expenses and whilst in Sweden Jack spent time doing street evangelism and serving the church. We were thrilled to be able to welcome former student, Holly Jones, as an intern for 2023-2024. Holly is participating in the NewFrontiers ‘ID training programme’ and working with students, Language School and various other church activities. The church covers the financial cost of the training programme, as the benefit to Holly and the church much outweighs the cost! Holly continues the great work that our previous interns started. We’re very grateful to our interns for their hard work, commitment and willingness to serve The Well Church.
- 2 -
THE WELL CHURCH LOUGHBOROUGH
TRUSTEES REPORT FOR THE YEAR ENDED 31 DECEMBER 2023
ACTIVITIES/ACHIEVEMENTS AND PERFORMANCE (continued)
We have continued with our variety of Community Groups, under the broad titles of Home, Interest and Equipping Communities; some meeting in people’s homes with a more ‘typical’ home group style, some centred around shared interests and some with the aim to equip people in their faith and beyond. One equipping group which ran during the Spring and Summer Term as an Alpha Course, which allowed people to explore faith in a relaxed setting. We continue to see the benefit of providing different levels of connection midweek, to meet the needs of our varied congregation.
One of the biggest highlights of the year was our church weekend away. We gathered 99 people in September for a weekend of meeting with God, deepening friendships and fun! We were joined by some of our friends from the Catalyst family of churches, who led sessions and seminars for us. Many people commented afterwards how beneficial the time had been, both socially and for their faith. The church contributed £1828 to subsidise the ticket cost for the weekend away.
The Well Church English Language School continued to provide three classes at differing ability levels, with a group of students who attended very consistently throughout the year. Twice each term we provide a social activity, usually focused around a culturally significant event, such as Shrove Tuesday or Easter and use this opportunity to build vocabulary as well as friendship.
Our toddler church ‘Glow’ continues to meet at the Hut (Ashby Road Estates Community Centre) and we love being able to connect into the local community around our normal Sunday meeting venue. During 2023 we saw a total of 20 families and 24 children come along to enjoy singing, crafts, Bible stories and time to connect with other families and parents.
Towards the end of the year, we began the ‘Hut Gathering’ once a month on Sunday afternoons to gather with people from the community for music, Bible story, craft and tea together. Furthermore, we ran an Easter Holiday Bible Club for three mornings in April: playing games, doing craft and teaching the children about Jesus. It’s a joy to build new friendships and introduce people to Jesus. The Hut is a great venue in the heart of the community, which we really value, so in June we worked alongside the Loughborough Churches Partnership to help clear and renovate the garden area. We gave £1000 to put towards machinery, materials, waste removal and planting in order for the work to progress well and the space to become useable.
We were gladly able to send Martin and James to Malawi in June to visit Alec Mulalo. Whilst there they visited Well Church Wells in Moanga and Didi, which included a powerful meeting with the people who are benefitting directly from the clean water. Martin and James both assisted with the Youth Conference at Holy Dwelling Church and enjoyed staying with Alec and his family to continue building relationship. During the year, we gave a total of £9586 to our friends in Malawi which helped to: provide food for the Youth Conference, give urgent assistance after Storm Freddie, start work on Well Church Well 6, provide roofs for three new church buildings and provide seeds, fertiliser and fuel for farmers in need.
During the year, the Well Church gave a total of £4000 to the Catalyst Network of Churches to support the development of Catalyst churches throughout the world and to assist in overcoming hardships caused by disease, famine, extreme weather and war in the areas where Catalyst churches are established. We also contributed £4800 to Emmanuel Church Oxford to help finance the work of our ‘Hub’ (a subdivision of about 12 Catalyst churches), planting and supporting churches around the world. We contributed £656 to the Turkey/Syria Earthquake Appeal, supporting the immediate needs of people on the ground after the earthquake. Through this connection with a Catalyst church, we also supported a couple who are planting a church in the Middle East with a further £1320, we gave £1800 to Valleys Family Church as they reach into a deprived area of Wales, as well as £1000 to Newday Generation, to set up a charity and support their ongoing costs.
In addition, throughout the year we gave financially to support several other local charities: £1300 to the SOaR Project (Schools Outreach and Resources) for ongoing activities, £650 to Friends International for their work with International Students, £175 to Loughborough Churches Partnership for ongoing work across the town and £1000 to the Loughborough University Christian Union for their events week.
More than 25 members of the church continue to sponsor children in Kenya through Compassion UK which we continue to encourage and promote.
- 3 -
THE WELL CHURCH LOUGHBOROUGH
TRUSTEES REPORT FOR THE YEAR ENDED 31 DECEMBER 2023
Public benefit
The purposes of the charity as outlined by our governing document can be summarised as the advancement of the Christian faith, the relief of poverty and the advancement of education based on Christian principles.
We continue to provide teaching, worship and opportunities to explore the Christian faith through Sunday meetings, home based groups and other courses and events. One aim of our church is to enable ordinary people to live out their faith as part of the community they live and work in, to the benefit of those around them. We teach this repeatedly and create opportunities for people to serve the wider community. This is demonstrated in the projects we run and also on a personal level.
Through our teaching and through opportunities, we have encouraged church people to be a positive presence in their work, their community and their family life. We’re directly working on poverty relief in Malawi, with our programme of clean water supply Bore Holes (currently totalling five) and our provision of roofs for church buildings, which can also be used as community facilities. In Loughborough, we support local charities in their longstanding work into the community near our Sunday meeting venue. We support church members facing hardship and encourage church members to do likewise in their own ways too.
Our English Language school helps those from other nations integrate better into our society. Our toddler church, Glow, invites parents, carers and their young children to come and hear Christian songs, Bible stories and make crafts, as well as connect with parents from within the church.
Leader
Martin Bull has led the Well Church since January 2007. He is employed full time by the Church.
FINANCIAL REVIEW
Unrestricted funds increased from £106,798 (2022) to £130,743 due to a wonderful increase in giving.
The Trustees consider, in order to maintain financial viability, that the charities liquid funds should at all times cover a minimum of three months’ salary costs and one month of premises rental for Charnwood College and the church office (£16,212 at time of writing) after clearing all current liabilities.
- 4 -
THE WELL CHURCH LOUGHBOROUGH
TRUSTEES REPORT FOR THE YEAR ENDED 31 DECEMBER 2023
PLANS FOR THE FUTURE
Objectives for 2024
Our objectives as a church continue to be to build a significant church in Loughborough, that reaches out to all, seeing lives transformed by the power of God. The plans that we have for 2024 line up with these 3 main aims.
Build
We’re really excited that the Catalyst Festival will return in 2024. It has been 6 years since we last met together with the churches in the Catalyst Network and we look forward to spending a weekend in August building friendships, strengthening connections and getting caught up in the bigger picture of what God is doing all over the World. Following on from the success of ‘Project23’, we plan to send the students that connect with us to the same Catalyst Conference in 2024. A place for 20s and 30s to be envisioned for their faith, the church and global mission.
Reach
We aim to reach out to friends, neighbours and colleagues on a personal level and also through projects that we run. We will continue to reach out to those in our local area through Glow and the Language School, as well as running a Kids Holiday Club at the Hut (Ashby Road Estates Community Centre), helping us to serve and connect with those in the local community.
Our hope will be to meet face-to-face again with our friends at Valleys Family Church in Brynmawr and Alec Mulalo in Malawi. Through these relationships we will continue to work directly on the relief of poverty and give to improve the wellbeing of those in hardship situations.
Transform
We have allocated another £20,000 this year to our ‘Venue Fund’ which brings the total to £94,000. Alongside this, we will have another Gift Day for our ‘Future Opportunities Fund’, which currently stands at £29,387. We will again give away 10% to other worthy causes and will continue taking steps during 2024 to find a suitable venue as a ministry and administration base. We hope that this ministry base will be a benefit to the community and a facility used by many. We plan to run the Alpha Course again, having connected with a few people who want to explore faith and meaning.
Conclusion
The Trustees are of the opinion that the charity is in very good financial shape and in a position to meet the challenges expected during the coming year.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Trustee Recruitment
Trustees are selected from those connected with the church so that they have a good understanding of the church’s operation and objectives. Trustees are appointed by the leaders of the church as those who uphold the teachings of the Christian faith in accordance with the trust deed. We look for those with the capability and capacity to fulfil their obligations as trustees, either through their professional experience or personal qualities.
- 5 -
THE WELL CHURCH LOUGHBOROUGH TRUSTEES REPORT FOR THE YEAR ENDED 31 DECEMBER 2023
REFERENCE AND ADMINISTRATIVE DETAILS
| CHARITY NAME | The Well Church Loughborough |
|---|---|
| CHARITY NUMBER | 1193827 |
| PRINCIPAL OFFICE | The Well Church c/o United Reformed Church |
| 39 Frederick Street | |
| Loughborough | |
| Leics | |
| LE11 3BH |
The trustees serving during the year and since the year end were as follows:
Saul Algar (Chairman) Tim Aston Martin Bull Laura Green Daniel Wilton (Appointed 12[th] June 2023)
INDEPENDENT EXAMINERS Cound & Co LLP 1 Princes Court Royal Way Loughborough Leics LE11 5XR BANKERS HSBC plc 41 Market Place Loughborough Leics LE11 3EJ
Approved by the Trustees and signed on their behalf by:
………………………….
12 June 2024
Martin Bull (Trustee)
- 6 -
THE WELL CHURCH LOUGHBOROUGH
TO THE TRUSTEES OF THE WELL CHURCH LOUGHBOROUGH
INDEPENDENT EXAMINATION REPORT
I report on the accounts of the charity for the year ended 31 December 2023 which are set out on pages 7 to 9.
Respective Responsibilities of Trustees and Examiner
The charity’s trustees are responsible for the preparation of the accounts.
The charity’s trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.
It is my responsibility to:
-
examine the accounts under section 145 of the 2011 Act;
-
follow the procedures laid down in the General Directions given by the Charity Commissioners under section 145(5)(b) of the 2011 Act; and
-
state whether particular matters have come to my attention.
Basis of Independent Examiner’s Statement
My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a “true and fair view” and the report is limited to those matters set out in the statement below.
Independent Examiner’s Statement
In connection with our examination, no matter has come to my attention:
-
which gives me reasonable cause to believe that, in any material respect, the requirements:
-
to keep proper accounting records in accordance with section 130 of the 2011 Act; and
-
to prepare accounts which accord with the accounting records and comply with the accounting requirements of the 2011 Act;
has not met; or
- to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
D R Gradon MA FCA Cound & Co LLP Chartered Accountants 1 Princes Court Royal Way Loughborough Leics LE11 5XR
12 June 2024
- 7 -
THE WELL CHURCH LOUGHBOROUGH
STATEMENT OF FINANCIAL ACTIVITIES - FOR THE YEAR ENDED 31 DECEMBER 2023
| Unrestricted Designated Restricted INCOME Funds Fund Funds 2023 2023 2023 Donations and legacies: Offerings & donations 105123 20000 - Malawi - - 1170 Josh Strike - - - Turkey / Syria Earthquake - - 656 Ukraine - - - Sweden Mission - - 502 Winter Hardship - - - Christmas Gift Vouchers - - 1875 Futures Fund - - 32653 Old Trust - - - Gift Aid 24555 - - Investments Bank interest received 2143 - - __ _ TOTAL INCOME 131821 20000 36856 EXPENDITURE Charitable Activities: Grants payable in furtherance of the charity’s objectives Grants to Catalyst (New Frontiers) 8800 - 656 Grants to external bodies (Worldwide) 10155 - 4938 Grants to external bodies (Local) 4125 - - 23080 - 5594 Activities in furtherance of the charity’s objectives Hire of premises 11027 - - Meeting consumables 709 - - Meeting equipment 545 - - Bank Charges 136 - - Depreciation of equipment 1015 - - Worship Team resource 243 - - Primary Children 482 - - Creche 279 - - Evangelism 296 - - Evangelism - Alpha meals 205 - - Evangelism -Alpha materials 183 - - Evangelism -Language School 2488 - - Books 29 - - Weekend Away 1828 - - Pastoral & Benevolent 314 - 1875 Students 497 - - Church Youth 2252 - - GLOW 1031 - - Socials 179 - - Outreach Events 1499 - - 25237 - 1875 ___ |
Total Funds 2023 125123 1170 - 656 - 502 - 1875 32653 - 24555 2143 __ 188677 _ 9456 15093 4125 28674 11027 709 545 136 1015 243 482 279 296 205 183 2488 29 1828 2189 497 2252 1031 179 1499 27112 ___ |
Total Funds 2022 99236 1065 50 - 1308 314 2,000 - - 85509 19314 237 __ 209033 _ 7981 9836 1905 19722 8479 499 79 - 1035 148 165 388 194 - 235 1265 87 1998 4573 576 2091 902 105 1131 23950 ___ |
|---|---|---|
- 8 -
THE WELL CHURCH LOUGHBOROUGH
STATEMENT OF FINANCIAL ACTIVITIES - FOR THE YEAR ENDED 31 DECEMBER 2023 (continued)
| Unrestricted | Designated | Restricted | Total | Total | |
|---|---|---|---|---|---|
| EXPENDITURE (Continued) | Funds | Fund | Funds | Funds | Funds |
| 2023 | 2023 | 2023 | 2023 | 2022 | |
| Support costs | |||||
| Visiting Speakers | 381 | - | - | 381 | 600 |
| Hospitality | 507 | - | - | 507 | 474 |
| Training | 3931 | - | - | 3931 | 2136 |
| Travel | 755 | - | - | 755 | 803 |
| Malawi Travel Costs | 1778 | - | - | 1778 | 2067 |
| ______ | ______ | ______ | ______ | ______ | |
| 7352 | - | - | 7352 | 6080 | |
| ______ | ______ | ______ | ______ | ______ | |
| Expenditure on managing-administrating the charity | |||||
| Administration and other office costs | 3574 | - | - | 3574 | 3561 |
| Administration – office rental | 3718 | - | - | 3718 | 3380 |
| Legalities | 3152 | - | - | 3152 | 2034 |
| Salaries | 57208 | - | - | 57208 | 40285 |
| Pensions | 4555 | - | - | 4555 | 3223 |
| ______ | ______ | ______ | ______ | ______ | |
| 72207 | - | - | 72207 | 52483 | |
| ______ | ______ | ______ | ______ | ______ | |
| TOTAL EXPENDITURE | 127876 | - | 7469 | 135345 | 102235 |
| ______ | ______ | ______ | ______ | ______ | |
| NET INCOME/(EXPENDITURE) AND NET | |||||
| MOVEMENT IN FUNDS | 3945 | 20000 | 29387 | 53332 | 106798 |
| _____ | _____ | _____ | ______ | ______ | |
| RECONCILIATION OF FUNDS | |||||
| Total funds brought forward | 32798 | 74000 | - | 106798 | - |
| _____ | _____ | _____ | ______ | ______ | |
| Total funds carried forward | £36743 | £94000 | £29387 | £160130 | £106798 |
| _____ | _____ | _____ | ______ | ______ |
- 9 -
THE WELL CHURCH LOUGHBOROUGH
BALANCE SHEET AS AT 31 DECEMBER 2023
| Fixed Assets Tangible Fixed Assets Current Assets Debtors Cash at Bank CURRENT LIABILITIES – Amounts falling due within one year NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS Represented by: Unrestricted Funds Designated Funds Restricted Funds TOTAL FUNDS |
Notes 2023 2022 3 1668 1329 4 8572 9639 5 156455 114387 __ _ 165027 124026 6 6565 18557 158462 105469 160130 106798 £160130 £106798 7 36743 32798 7 94000 74000 7 29387 - £160130 £106798 ___ |
2022 1329 9639 114387 __ 124026 ____ |
2022 |
|---|---|---|---|
| 18557 ______ |
The Financial Statements on pages 7 to 9 were approved by the trustees on 12 June 2024 and signed on their behalf by:
……………………………………
Saul Algar
……………………………………
Martin Bull
- 10 -
THE WELL CHURCH LOUGHBOROUGH
NOTES FORMING PART OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
1. Accounting Policies
- a) These financial statements have been prepared in accordance with the Charities SORP (FRS 102): ‘Accounting and Reporting by Charities, Statement of Recommended Practice applicable to charities preparing their accounts in accordance with FRS102 the Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS102”) (effective 1 January 2015)’, FRS102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (effective September 2015) and the Charities Act 2011. The disclosure requirements of Section 1A of FRS102 have been applied other than where additional disclosure is required to show a true and fair view.
The charity constitutes a public benefit entity under FRS102.
Assets and liabilities are initially recognised at historical cost or transactional value unless otherwise stated in the relevant accounting policy note and the financial statements are prepared on a going concern basis. The financial statements are prepared in sterling, which is the financial currency of the charity and rounded to the nearest £1.
The charity adopted SORP (FRS102) in the current year. In preparing the accounts, the trustees have considered whether in applying the accounting policies require by FRS102 and the Charities SORP FRS102, a restatement of comparative items was needed. No such restatement was required.
- b) Unrestricted funds are funds which are available for use at the discretion of the trustees in furtherance of the general objectives of the church and which have not been designated for other purposes.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by the funding provider. The costs of raising and administering such funds are charged against the specific funds.
Designated funds are funds which have been received with no specific restrictions imposed on them such as unrestricted funds but which the trustees have designated to be expended for a specific purpose.
-
c) Expenditure is accounted for on an accruals basis inclusive of attributable VAT which cannot be recovered.
-
d) It is the Charity’s policy to capitalise assets with a cost price in excess of £1000. Depreciation is charged in such a way as to write off the cost of fixed assets over their estimated useful lives at the following rates:
Equipment - 20% straight line basis
- e) The Charity has made contributions into defined pension schemes for the benefit of its staff. The cost of contributions are written off in the Statement of Financial Activities in the year in which they are paid.
- 11 -
THE WELL CHURCH LOUGHBOROUGH
NOTES FORMING PART OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
2. Staff Costs and Trustee Expenses
| Salaries Social Security Costs Pension Costs |
2023 2022 56936 40285 272 - 4555 3223 __ _ £61763 £43,508 ___ |
|---|---|
Only 9 months salaries were paid in 2022 due to the transfer of employment from the previous charitable trust in April 2022.
Trustee Martin Bull is also an employee and received the following remuneration during the year:
| Salary | £46700 |
|---|---|
| Pension Contributions | £3736 |
This remuneration is for his work as the Church’s leader not for his role as a trustee.
No other trustee received any remuneration during the year (2022 none) although Sarah Algar (Church Administrator) is the wife of trustee Saul Algar.
The total amount of remuneration benefits for Trustees and Key Management Personnel is £50436.
No employee received total employee benefits in excess of £60,000 during the year.
| The average number of employees during the year was: | 2023 |
|---|---|
| 2 |
Martin Bull received a further £2034 (2022: £3157) for re-imbursement of expenses incurred. These breakdown to £360 (2022: £435) for provision of hospitality, £741 (2022: £695) for UK travel including mileage paid at HM Revenue & Customs approved rates, £134 (2022: £112) for phone costs on a mobile phone supplied by the Church, £799 (2022: £1620) for tickets to Malawi.
Trustee Tim Aston received £540 (2022: £497) for reimbursement of expenses incurred. These were for IT licences.
Trustee Laura Green received £586 (2022: £575) for reimbursement of expenses incurred. These were for purchases mainly in support of the youth work led by Laura & her husband.
Trustee Saul Algar received £0 (2022: £0) but his wife, Sarah Algar, who is the Church Office Administrator made many purchases for the Church for which she has been reimbursed £5351 (2022: £3776).
The total amount of donations received from the Trustees in the year was £18690.
- 12 -
THE WELL CHURCH LOUGHBOROUGH
NOTES FORMING PART OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
| 3. 4. 5. 6. |
Fixed Assets Cost of Valuation At 1 January 2023 Additions in the Year At 31 December 2023 Depreciation At 1 January 2023 Additions in the Year At 31 December 2023 Net Book Value At 31 December 2023 At 31 December 2022 Debtors Gift Aid Receivable Prepayments Cash at Bank HSBC Current Account HSBC Deposit Account Creditors PAYE/NIC unpaid Accruals |
Equipment Total 2364 2364 1354 1354 _ £3,718 £3,718 _ 1035 1035 1015 1015 £2,050 £2,050 _ £1,668 £1,668 _ £1,329 £1,329 2023 2022 8572 6775 - 2864 _ £8572 £9639 __ _ 2023 2022 2455 2387 154000 112000 _ £156455 £114387 2023 2022 2730 2551 3835 16006 £6565 £18557 ___ |
Equipment Total 2364 2364 1354 1354 _ £3,718 £3,718 _ 1035 1035 1015 1015 £2,050 £2,050 _ £1,668 £1,668 _ £1,329 £1,329 2023 2022 8572 6775 - 2864 _ £8572 £9639 __ _ 2023 2022 2455 2387 154000 112000 _ £156455 £114387 2023 2022 2730 2551 3835 16006 £6565 £18557 ___ |
|---|---|---|---|
| 2022 2551 16006 __ £18557 ____ |
- 13 -
THE WELL CHURCH LOUGHBOROUGH
NOTES FORMING PART OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
7.
| Analysis of Net Assets by Funds Unrestricted Designated Restricted Total Funds Funds Funds Funds 2023 2023 2023 2023 Fixed Assets 1668 - - 1668 Current Assets 41640 94000 29387 165027 Current Liabilities (6565) - - (6565) __ _ £36743 £94000 £29387 £160130 ___ |
Total Funds 2022 1329 124026 (18557) __ £106798 _____ |
|---|---|
_
Designated funds represent the “Venue Fund” (as noted in the Trustees Report) whereby the Trustees are setting aside funds towards the eventual purchase of a property for the Church.
8. Control
The charity is controlled by its members.
9. Transactions with Related Parties
There were no transactions with related parties.