Wellspring Church Leicester (Formally known as King's Church Leicester) Report and Accounts for the 12 months ended 31st August 2025
Wellspring Church Leicester (formerly known as King's Church Leicester)
CHARITY INFORMATION
FOR THE YEAR ENDED 31st AUGUST 2025
Trustees Mr Hugh Potter (Chair) Mrs Alison Newman Mr Danny Field Mr Nicholas Kerwin Mrs Rachel Hunter (appointed 14 Nov 2024) Mr William Pearce (appointed 3 Jul 2025) Elders Mr Matthew Weedall Mr William Pearce Key Staff Mr Matthew Weedall (Lead Elder) Mr William Pearce (Opperations Manager) Governing Document Constitution dated 5th August 2021 Charity Registration Number 1195653 Principal Address Manor House Community Centre Haddenham Road Leicester LE3 2BG Independent Examiner Nicola Harrison CA Stewardship 1 Lamb's Passage London EC1Y 8AB Bankers CAF Bank Ltd. 25 Kings Hill Avenue King's Hill West Mailing Kent ME19 4JQ
| Contents | Page |
|---|---|
| Charity Information | 1 |
| Trustees' Annual Report | 2-6 |
| Independent Examiner's Report | 7 |
| Statement of Financial Activities | 8 |
| Balance Sheet | 9 |
| Notes to the Accounts | 10-17 |
| Detailed Statement of Financial Activities | 18 |
Page 1
Wellspring Church Leicester (formerly known as King's Church Leicester)
TRUSTEES' ANNUAL REPORT
FOR THE YEAR ENDED 31st AUGUST 2025
The trustees have pleasure in submitting the Report and Accounts for the year.
Objects of the charity
The charity is a charitable incorporated organisation and is governed by its Constitution. The objects of the charity, as set out in the governing document are:
a) to advance the Christian faith in Leicester and such other parts of the United Kingdom and the world as the Charity Trustees may from time to time decide; and b) to relieve persons in need by reason of their financial hardship, ill-health, age, unemployment or other social or economic disadvantage, including but not limited to, those attending the Church Fellowship or other churches in Leicester.
The trustees note that the Church is not a building, but a gathering of ordinary people of different ages and backgrounds, whose lives have been changed by Jesus Christ, the Son of God. The New Testament reveals the Church as a community of people, properly taught and cared for, who by loving and serving Jesus Christ, were also committed to love and care for each other and to bring a blessing to the area in which they lived. Wellspring Church Leicester; its trustees, elders and members are committed to the restoration of those New Testament principles. It is not alone in this, it is one of many Churches in the area, country and all over the world that is re-discovering the excitement of knowing Jesus Christ. The vision is to see the people of Leicester come into this experience of knowing Jesus as their Lord, Saviour and friend.
Summary of the charity's main activities and achievements
The New Testament shows that the church is not a building, but rather a group of ordinary people whose lives have been changed by a relationship with Jesus Christ. Wellspring Church is a Catalyst Church, which is part of the wider Newfrontiers family of churches.
Over the previous financial year the trustees have been working closely with Manor House Community Centre, a Community Interest Group, that is ceasing to exists to transfer assets and operations to the charity. As part of the transfer process, Hugh Potter and William Pearce joined the trustees of Manor House Community Centre. Nicholas Kerwin, a trustee of Manor House Community Centre, has become a trustee of Wellspring Church Leicester as part of the transition. On 1st September 2024 this process was by enlarge completed with assets transfer to Wellspring Church Leicester. As of August 2025 the only outstanding transfer is the lease on the building with the Leicester City Council.
In April 2025 the charity changed it's name from King's Church Leicester to Wellspring Church Leicester, in order to mark a new season in the life of the life of the church and a fresh sense of mission we have together. Wellspring means the source of a spring or stream, a continual or abundant supply of something. This mirrors the vison Ezekiel saw in the Old Testament of a river flowing from God’s temple bringing life, salvation and healing wherever it went.
Page 2
Wellspring Church Leicester (formerly known as King's Church Leicester)
TRUSTEES' ANNUAL REPORT
FOR THE YEAR ENDED 31st AUGUST 2025
Today the church is the temple of God and the river is the Holy Spirit who works in and through us to bring the life of Jesus Christ wherever we are. Our Purpose at Wellspring therefore is to be “A source of God’s life, hope and healing in the community and beyond.". We fulfil our purpose as individuals as we live our lives in the communities that God has placed us in, we also do so corporately as follows:
Sunday Meetings
We have continued to meet each week at Fullhurst College for our main Sunday gathering. Sunday requires many volunteers serving in welcome, worship, kids & youth and other ministries for it to happen effectively. We are very grateful for them! As the main gathering point of the church, and the most visible way into church life, it continues to be a major part of who we are together. As we do this we believe God is with us in a real way and we are able to grow in our understanding and experience of His life-giving love and power.
Children and young people
At Wellspring, we are passionate about helping our children discover and grow in their relationship with God. Jesus welcomed and blessed children, and told his disciples not to get in their way. We aim to provide children with something that is accessible and meaningful, whatever their age, showing them that Jesus is real and that He cares for them.
Our youth group gathers each week at Manor House to grow in friendship with one another, and once a month this turns into “Rooted” where there is more space for worship, discipleship and plenty of questions.
Each summer a group of our young people and youth leaders attend Newday. Newday is one of the largest Christian events for young people that takes place in the UK every year. Thousands of young people join hundreds of churches from all over the UK and Europe to learn about and worship God, camp out together and soak in the summer festival feeling, leaving Newday further along in their relationship with Jesus.
Pastoral Support
Jesus never promised that life following Him would be easy, in fact He said “in this world you will have trouble. But take heart! I have overcome the world” (John 16:33, NIV). Our vision is that we would be the kind of church family that looks out for one another when trouble comes. The Bible teaches that each one of us has a responsibility of care towards our brothers and sisters in Christ, that we would seek to help, support and encourage one another through life’s challenges as much as we can. As well as this we have a wonderful pastoral team who serve our church family incredibly well.
Wellspring also has a pastoral fund, specifically set up to help those in financial need within the church, over this financial year, we have been able to help a number of vulnerable church members with their immediate and basic needs as a result of this fund.
Page 3
Wellspring Church Leicester (formerly known as King's Church Leicester)
TRUSTEES' ANNUAL REPORT
FOR THE YEAR ENDED 31st AUGUST 2025
Prayer
We believe that if we want to get serious about reaching our community with the good news of Jesus then we need to get serious about prayer! Prayer is the activity that lifts us beyond what we can achieve in purely our own strength. Prayer is often the place where the real battle is fought. In the summer of 2024 we felt God was leading us to make prayer more of a priority and since then we have changed the whole midweek rhythm of church life to reflect this. We now gather to pray every week in one of two ways. Firstly “Prayer and Praise” this is our next main gathering point outside of Sundays, where we come together on Wednesday nights to worship Jesus, seek more of His Holy Spirit, and pray for more of His Kingdom to breakout around us. Charles Spurgeon used to call his church prayer meetings the engine room of the church. He said “if the engine room is out of action the whole mill grinds to a halt”. Through these gatherings we are seeking to get the engine room up and running because we believe prayer is fundamental to everything else we do. Secondly we gather one a month in smaller groups to pray. These tend to take place in people’s homes but could be held anywhere. They are a great place to build deeper connection with people and pray more specifically for one another.
Manor House
As a church we run Manor House Community Centre. The heart behind our community centre is to provide a welcoming and accessible space for the local community. Our community centre is run by staff as well as many volunteers. We provide a space for other charities and not for profits to meet and serve the local community, as well as hiring rooms to help pay for the running of the centre.
Manor House has been run as a Community Interest Group, overseen by Mosaic Church Leicester. During 2022, Wellspring Church took over operational responsibility for the centre, whilst considerations where had about the best way forward. As a result of those discussions, Manor House Community Centre been transferred into the ownership of Wellspring Church Leicester, with a majority of assets transferred on 1st September 2024.
Foodbank
No one should go hungry or be forced to choose between heating or eating. The reality however, is that for many in Leicester this is exactly the choice they are faced with. In response to this Wellspring runs Manor House Foodbank to help provide relief to those who are suffering from food poverty in the local area. Each week foodbank serves around 100-120 households, providing them with some staple foods, as well as toiletries. We also regularly review each client, looking to signpost them to get help and support for whatever need lie beneath the immediate need for food.
Christians Against Poverty
Wellspring partners with Christians Against Poverty to support local people here in Leicester who are living with unmanageable debt. At Wellspring, we’ve seen how poverty robes people of dignity, hope and opportunities, and together with CAP we’re determined to fight back. This year we have met with 16 different households, with 8 of those now debt free.
Page 4
Wellspring Church Leicester (formerly known as King's Church Leicester)
TRUSTEES' ANNUAL REPORT
FOR THE YEAR ENDED 31st AUGUST 2025
Jubilee+
At Wellspring, we partner with the national charity Jubilee+, utilising their resources and attending their events. Jubilee+ believe that local churches and individual Christians should be mercy-bringers in their communities, especially to those in poverty. Disciples of Jesus are called to become more and more like Him in our compassion, generosity, mercy, justice, kindness and welcome. Jubilee+ looks to equip the church to be the mercy bringers they are called to be. You can find out more about their work below.
We have been releasing our Operations Manager 1 day a week to serve Jubilee+ as part of their leadership team. In Apr 24 he officially joined the staff at Jubilee+ whilst still working part-time for Wellspring Church. We now have started giving to the charity financially as well as supporting them in prayer.
Serving the wider church
At Wellspring we believe that the Church is far bigger than just us! We therefore love to invest in a support other churches where we can. Our lead elder currently runs a breakfast for other church leaders in the area, serves other churches in by leading worship and speaking when invited, and partnering with neighbouring church for a community carols event.
We also play our part in the work of Catalyst, supporting them financially, attending their events and praying for churches that are part of the network. Wellspring has also served at a number of their events, whether leading worship, speaking at seminars, being part of their ministry team or events administration.
In planning the activities the Trustees have applied the guidance on public benefit issued by the Charity Commission.
Structure, Governance and Management
Responsibility for setting policy and for determining the parameters within which the charity should operate rests with the trustees who meet regularly to monitor the activities of the charity. Responsibility for the day to day operation of the charity has been delegated to the Senior Leadership Team led by Matthew Weedall. New trustees are recruited and appointed by the existing trustees by a majority vote
Financial review
During the year charity income was £353,413 (Prior Year: £153,908), and expenditure was £298,337 (Prior Year: £146,190). As a result, surplus for the year was £55,076 (Prior Year: £7,718), the charity's net assets and net current assets finished the year at £195,870 (Prior Year: £143,916).
Reserves policy
The trustees have determined that the charity should aim to hold unrestricted cash of no less than £55,000 (which equates to about 3 months' of committed expenditure) so that the charity could continue to operate should income and / or expenditure vary adversely. At the year end, the charity held unrestricted cash of £148,665 and the charity is complying with its reserves policy.
Page 5
Wellspring Church Leicester (formerly known as King's Church Leicester)
TRUSTEES' ANNUAL REPORT
FOR THE YEAR ENDED 31st AUGUST 2025
Key risks and uncertainties
The charity is exposed to various risks - be they operational, financial or reputational. The trustees review the charity's activities regularly to identify significant risks and, where possible, they take appropriate measures to mitigate those risks.
Responsibilities of trustees under charity law
The trustees are responsible for preparing the trustees' annual report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Charity law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of the affairs of the charity as at the balance sheet date and of its incoming resources and application of resources, including income and expenditure, for the financial year. In preparing these financial statements, the trustees are required to:
-
select suitable accounting policies and apply them consistently;
-
observe the methods and principles in the Charities SORP;
-
make judgements and estimates that are reasonable and prudent;
-
state whether the applicable accounting standards have been followed, subject to any material
departures disclosed and explained in the financial statements; and
- prepare the financial statements on a going concern basis unless it is inappropriate to presume
that the charity will continue in operation.
The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011 and the Charity (Accounts and Reports) Regulations 2008. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approval
This report was approved by the trustees and signed on their behalf by:
HDGPotter
HDGPotter (Jun 9, 2026 12:30:10 GMT+1)
Hugh Potter
Jun 9, 2026
Date: _______
Page 6
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF
Wellspring Church Leicester (formerly known as King's Church Leicester) ('the Charity')
I report to the charity trustees on my examination of the accounts of the Charity for the year ended 31 August 2025 on pages 8 to 17 following, which have been prepared on the basis of the accounting policies set out on pages 10 to 12.
Responsibilities and basis of report
As the charity’s trustees of the Charitable Incorporated Organisation 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 Charity’s accounts carried out under section 145 of the 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
Since the Charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of Institute of Chartered Accountants of Scotland, which is one of the listed bodies.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
-
accounting records were not kept in respect of the Charity as required by section 130 of the Act; or
-
the accounts do not accord with those records; or
-
the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair' view which is not a matter considered as part of an independent examination.
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.
Nicola Harrison
Nicola Harrison (Jun 10, 2026 10:10:08 GMT+1)
Nicola Harrison CA Institute of Chartered Accountants of Scotland Stewardship 1 Lamb's Passage London EC1Y 8AB
Date: Jun 10, 2026
Page 7
Wellspring Church Leicester (formerly known as King's Church Leicester)
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31st AUGUST 2025
| Note INCOME AND ENDOWMENTS FROM: Donations and legacies 3 Charitable activities 4 Investments 5 Trading Activites 6 Other Income 7 Total income and endowments EXPENDITURE ON: Charitable activities 8 Total expenditure Net income/(expenditure) Transfers between funds 16 Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward 16 |
Unrestricted Funds £ 119,507.75 17,448.11 695.90 64,925.55 44,442.09 247,019.40 201,863.39 201,863.39 |
Restricted Funds £ 34,869.11 1,345.00 77.01 - 70,102.12 106,393.24 96,473.15 96,473.15 |
Total Funds 2024/25 £ 154,376.86 18,793.11 772.91 64,925.55 114,544.21 353,412.64 298,336.54 298,336.54 |
Total Funds 2023/24 £ 152,340.80 1,270.25 296.88 - - |
|---|---|---|---|---|
| 153,907.93 | ||||
| 146,190.34 | ||||
| 146,190.34 | ||||
| 45,156.01 (1,034.60) 44,121.41 115,779.65 159,901.06 |
9,920.09 1,034.60 10,954.69 28,136.30 39,090.99 |
55,076.10 - 55,076.10 143,915.95 198,992.05 |
7,717.59 - |
|
| 7,717.59 136,198.36 |
||||
| 143,915.95 |
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing operations.
The notes on pages 10-17 form part of these accounts.
Page 8
Wellspring Church Leicester (formerly known as King's Church Leicester)
BALANCE SHEET
FOR THE YEAR ENDED 31st AUGUST 2025
| Note FIXED ASSETS Tangible assets 10 CURRENT ASSETS Debtors 11 Cash at bank and in hand 12 Stock Held 13 CREDITORS: Amounts falling due within one year 14 Net current assets / (liabilities) Total assets less current liabilities TOTAL NET ASSETS FUND BALANCES 16 Unrestricted Funds General funds Designated funds Restricted Funds |
Unrestricted Funds £ 3,122.12 3,122.12 12,880.35 148,664.66 - 161,545.01 (4,766.07) 156,778.94 159,901.06 159,901.06 111,992.98 47,908.08 159,901.06 - 159,901.06 |
Restricted Funds £ - - 120.00 35,392.89 3,828.60 39,341.49 (250.50) 39,090.99 39,090.99 39,090.99 - - - 39,090.99 39,090.99 |
Total Funds 2024/25 £ 3,122.12 3,122.12 13,000.35 184,057.55 3,828.60 200,886.50 (5,016.57) 195,869.93 198,992.05 198,992.05 111,992.98 47,908.08 159,901.06 39,090.99 198,992.05 |
Total Funds 2023/24 £ - |
|---|---|---|---|---|
| - | ||||
| 7,856.00 138,754.99 - |
||||
| 146,610.99 (2,695.04) |
||||
| 143,915.95 | ||||
| 143,915.95 | ||||
| 143,915.95 | ||||
| 115,779.65 - |
||||
| 115,779.65 28,136.30 |
||||
| 143,915.95 |
The financial statements were approved by the Board of Trustees and were signed on its behalf by:
HDGPotter
---------------------------------------HDGPotter (Jun 9, 2026 12:30:10 GMT+1) Hugh Potter Jun 9, 2026 Date: _______
Charity number: 1195653
The notes on pages 10-17 form part of these accounts.
Page 9
Wellspring Church Leicester (formerly known as King's Church Leicester)
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31st AUGUST 2025
1 Statutory Information
The charity is a charitable incorporated organisation registered with the Charity Commission in England & Wales. The charity's registered number and principal address can be found on the Charity Information page.
2 Accounting Policies
These financial statements are prepared on a going concern basis, under the historical cost convention as modified by the revaluation of certain assets, which are measured at fair value through the Statement of Financial Activities.
These financial statements have been prepared in accordance with the "Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) ("the Charities SORP"), with the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland ("FRS 102") and with the Charities Act 2011. The charity meets the definition of a public benefit entity as set out in FRS 102.
The Charities (Accounts and Reports) Regulations 2008 (the '2008 Regulations') requires charities to prepare their accounts in accordance with 'Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005' but this accounting standard has since been withdrawn and has been replaced by the Charities SORP mentioned in the preceding paragraph. The charity has prepared these financial statements in accordance with the new Charities SORP; this departure from the 2008 Regulations is believed to be necessary for these financial statements to give a 'true and fair view'.
The principles adopted in the preparation of the financial statements are set out below.
a) Going concern
The trustees have assessed whether the use of the going concern basis is appropriate and have considered possible events or conditions that might cast significant doubt on the ability of the charity to continue as a going concern. The trustees have made this assessment for a period of at least one year from the date of approval of the financial statements. In particular the trustees have considered the charity's forecasts and projections and the possible implications should projected income and / or expenditure vary unexpectedly. The trustees have concluded that there is a reasonable expectation that the charity has adequate resources to continue to operate for the foreseeable future. The charity therefore continues to adopt the going concern basis in preparing its financial statements.
b) Income
Income including investment income is recognised in the period in which the charity becomes entitled to receipt, the amount receivable can be measured with reasonable certainty, and receipt is probable. For the most part, income is generally recognised when it is received. Income is only deferred when the charity has to fulfil conditions before becoming entitled to it or where the donor has specified that the income is to be expended in a future period.
Income from donations and legacies includes:
i) Recoverable gift aid. This is recognised when the related donation is received. Gift aid that has not been recovered by the balance sheet date is included as a debtor.
ii) Donated facilities, services and goods. Goods donated for distribution to beneficiaries are recognised as income when receivable at fair value (being an estimate of the amount it would cost to purchase those items). Facilities, services and goods donated for the charity's own use are recognised as income when receivable at their value to the charity.
The charity relies on volunteers to carry out many of its activities. However, in accordance with the SORP, the value of these services has not been included in these financial statements as they cannot be reliably measured.
When donated goods, services and facilities are distributed or consumed, an expense in respect of those items is included in the Statement of Financial Activities. At the year end any goods that have not been distributed or consumed are recognised as stock; donated fixed assets are capitalised.
Page 10
Wellspring Church Leicester (formerly known as King's Church Leicester)
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31st AUGUST 2025
c) Expenditure
Expenditure, including irrecoverable VAT, is recognised when it is incurred or, if earlier, when a legal or constructive obligation for a payment arises provided that it is probable that settlement will be required and the amount of the obligation can be measured reliably.
The charity makes grants to other institutions and individuals to further its charitable objectives. Grants payable are recognised as constructive obligations arise, which is generally when the charity expresses a commitment to the recipient that can be measured reliably and then only to the extent that any conditions associated with the grant are outside of the control of the charity.
The charity makes grants to other institutions and individuals to further its charitable objectives. Grants payable are recognised as constructive obligations arise, which is generally when the charity expresses a commitment to the recipient that can be measured reliably and then only to the extent that any conditions associated with the grant are outside of the control of the charity.
The cost of raising funds is not significant and has not been separately disclosed.
Governance costs, which are included in expenditure on charitable activities but are identified separately in the notes to the accounts, includes costs associated with the independent examination of the financial statements, compliance with constitutional and statutory requirements and any other expenditure incurred on the strategic management of the charity.
d) Fund accounting General funds are unrestricted funds which are available for use at the discretion of the trustees in furtherance of the general objectives of the charity. Designated funds comprise unrestricted funds that have been set aside by the trustees for particular purposes. Restricted funds are donations which are to be used in accordance with specific restrictions imposed by donors; they include donations received from appeals for specific activities or projects. Endowment funds are donations that are retained as capital in accordance with the donor's wishes. The nature of the restriction determines whether the endowments represent permanent endowments or expendable endowments.
e) Tangible fixed assets
Items purchased or donated for the charity's own use are capitalised when the cost of purchased items, or the fair value of donated items, is more than £1,000 and the item is expected to benefit the charity over more than one accounting period. Depreciation is charged on a straight line basis so as to write down the value of each asset to its estimated residual value (if any) over its expected useful economic life. To achieve this objective the following rates of depreciation are charged:
Freehold land Is not depreciated (because it is not consumed by use) Freehold buildings Over 50 years after taking account of the building's residual value Leasehold improvements Over the lease term or, if shorter, expected useful life Equipment Over 3 to 7 years
The carrying values of tangible fixed assets are reviewed for impairment in periods when events or changes in circumstances indicate that the carrying value may not be recoverable.
f) Investments Fixed asset investments are held to generate income and / or for their investment potential. Current asset investments are investments that are held specifically for sale or are investments that the charity expects to sell by the next balance sheet date. Investments, other than social investments (see below), are valued as follows: i) Investment property and listed investments are valued at their market value (fair value) at the balance sheet date. ii) Unlisted investments are measured at cost less impairment where it becomes apparent that the amount that could be realised is less than cost.
Social investments are investments where the primary motive is to further the charity's objects, not to generate an investment return. Social investments comprise :
- i) concessionary loans. These are initially recognised as the amount paid and thereafter the carrying value at every balance sheet date is adjusted for repayments, interest charges and provisions for impairment if the amount owed may not be fully recoverable.
Page 11
Wellspring Church Leicester (formerly known as King's Church Leicester)
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31st AUGUST 2025
ii) an investment in property that is let rent-free. These investment properties are valued at every balance sheet date at fair value or, where this cannot be reliably ascertained, at cost less impairment.
Mixed motive investments are investments that are held both to generate a financial return and to contribute to the furtherance of the charity's objects.
Impairment losses and losses arising on the disposal of social investments are included in the Statement of Financial Activities under the heading 'Expenditure on charitable activities'. Gains arising on the disposal of social investments are included in the Statement of Financial Activities under the heading 'Other income'. All other gains and losses on investment assets are included in the Statement of Financial Activities under the heading 'Net gains / (losses) on investments'.
j) Pension scheme arrangements The charity operates defined contribution pension schemes for its employees. Obligations for contributions to these schemes are recognised as an expense when the liability arises. The assets of these schemes are held separately from those of the charity in independently administered funds.
-
k) Taxation The charity has taken advantage of the various reliefs from taxation available to charities and no tax is payable on the charity's income.
-
l) Financial instruments The charity's financial assets and financial liabilities all qualify as basic financial instruments, as defined by FRS102. Except for loans, creditors and debtors are measured at their expected settlement value (normally the amount of cash that the charity expects to pay or receive). The charity recognises liabilities for the principal of those loans that remains outstanding at the year end (i.e. the liabilities exclude any interest chargeable on the loans in future years).
-
m) Foreign currency translation These financial statements are presented in sterling, which is the charity's functional currency. i) Income and expenditure denominated in a foreign currency is translated into sterling at the exchange rate prevailing on the date of the transaction. ii) Monetary assets and liabilities denominated in a foreign currency are re-translated at the exchange rate prevailing at the balance sheet date. iii) Non-monetary assets are measured at historic cost at the rate of exchange prevailing on the date of the transaction and are not subsequently retranslated.
All differences arising from the application of the above policy are charged (or credited) to the Statement of Financial Activities.
n) Exemption from preparing a cashflow statement The charity has taken advantage of an exemption conferred by the Charities SORP and has not prepared a cash flow statement.
| o) 3 4 |
Critical accounting estimates and areas of judgement Donations and legacies 2024/25 2023/24 £ £ Donations of cash and similar 116,940.58 113,097.19 Income tax recoverable 24,436.28 25,751.49 Other grants receivable 13,000.00 13,492.12 154,376.86 152,340.80 Income from charitable activities 2024/25 2023/24 £ £ Event Income 1,415.00 1,270.25 Room Hire of Community Centre (matching our charitable objectives) 17,378.11 - 18,793.11 1,270.25 The trustees do not consider that there are any material sources of estimation or uncertainty at the balance sheet date that could result in a material adjustment to the carrying values of assets and liabilities in the next reporting period. |
Critical accounting estimates and areas of judgement Donations and legacies 2024/25 2023/24 £ £ Donations of cash and similar 116,940.58 113,097.19 Income tax recoverable 24,436.28 25,751.49 Other grants receivable 13,000.00 13,492.12 154,376.86 152,340.80 Income from charitable activities 2024/25 2023/24 £ £ Event Income 1,415.00 1,270.25 Room Hire of Community Centre (matching our charitable objectives) 17,378.11 - 18,793.11 1,270.25 The trustees do not consider that there are any material sources of estimation or uncertainty at the balance sheet date that could result in a material adjustment to the carrying values of assets and liabilities in the next reporting period. |
|---|---|---|
| 152,340.80 | ||
| 2023/24 £ 1,270.25 - |
||
| 1,270.25 |
Page 12
Wellspring Church Leicester (formerly known as King's Church Leicester)
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31st AUGUST 2025
| 5 Investment income Bank interest 6 Trading income Room Hire of Community Centre (Commercial) 7 Other Income Foodbank Donated Stock Transfer of Assets from Manor House Community Centre 8 Charitable expenditure a Costs incurred directly on specific activities Activities Advertising Event Costs Gifts Given (note 8c) Other Expenses Premises Relief of poverty Staff Costs b Costs incurred on support & administration Accountancy Fees Administration Bank Charges Computer Expenses Depreciation Legal & Professional Premises Hire Total expenditure |
2024/25 £ 772.91 772.91 2024/25 £ 64,925.55 64,925.55 2024/25 £ 46,254.93 68,289.28 114,544.21 2024/25 £ 6,136.30 6,357.72 9,654.48 9,120.00 2,004.17 45,365.65 79,619.94 101,848.31 260,106.57 1,380.00 5,601.67 111.50 - 289.42 6,643.25 24,204.13 38,229.97 298,336.54 |
2023/24 £ 296.88 |
|
|---|---|---|---|
| 296.88 | |||
| 2023/24 £ - |
|||
| - | |||
| 2023/24 £ - - |
|||
| - | |||
| 2023/24 £ 2,220.19 - 13,071.98 20,382.26 - - 841.70 80,268.17 |
|||
| 116,784.30 | |||
| 1,400.00 1,190.55 60.00 180.57 - 1,515.15 25,059.77 |
|||
| 29,406.04 | |||
| 146,190.34 |
Total expenditure
The fee payable to the independent examiner for examining the accounts was £1,150; in addition the charity paid £129 to Stewardship for consultancy services.
c Grants payable
| Grants for UK and overseas mission Grants for the relief of poverty Grants for UK and overseas mission Grants for the relief of poverty The comparatives for the previous year are as follows: |
Institutions £ 5,650.00 5,650.00 Institutions £ 4,800.00 14,681.25 19,481.25 |
Individuals £ 600.00 2,870.00 3,470.00 Individuals £ 901.01 901.01 |
2024/25 £ 6,250.00 2,870.00 |
|---|---|---|---|
| 9,120.00 | |||
| 2023/24 5,701.01 14,681.25 |
|||
| 20,382.26 |
Page 13
Wellspring Church Leicester (formerly known as King's Church Leicester)
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31st AUGUST 2025
The charity's principal grants to institutions comprised:
| The charity's principal grants to institutions comprised: | ||
|---|---|---|
| Jubilee+ Mosaic Foodbank Manor House Community Centre Catalyst Network of Churches Jubilee Church Solihull King's Arms Bedford Christians Against Poverty 9 Analysis of staff costs, the cost of key management personnel and trustee remuneration Gross wages and salaries Social security Pension costs Other employment benefits |
2024/25 £ 250.00 - - 1,800.00 1,800.00 1,800.00 - 5,650.00 2024/25 £ 92,770.73 2,490.05 6,470.53 117.00 101,848.31 |
2023/24 £ 200.00 7,081.25 2,000.00 2,850.00 150.00 1,800.00 5,400.00 |
| 19,481.25 | ||
| 2023/24 £ 73,883.50 956.95 5,310.72 117.00 |
||
| 80,268.17 |
The average monthly number of employees during the year was 4 (2024:3). Most of the charity's activities are carried out by volunteers.
No staff received salaries at a rate of more than £60,000 per annum.
The charity's key management comprise the trustees and the key staff named on the Charity Information page. Total employment benefits payable to key management for the year were as follows:
| management for the year were as follows: | |
|---|---|
| Other Employer Wages & employment pension salaries benefits contributions Trustees: 15,023.38 - 1,278.93 Key management connected to trustees: Other members of key management 40,127.96 117.00 2,599.70 Other Employer Wages & employment pension salaries benefits contributions Trustees: - - - Key management connected to trustees: - - - Other members of key management 56,925.24 117.00 4,015.68 The following amounts were payable in the previous year: |
2024/25 £ 16,302.31 42,844.66 |
| 59,146.97 | |
| 2023/24 £ - - 61,057.92 |
|
| 61,057.92 |
During the year key management (excluding trustees) received employment benefits totalling £42,844.66. (2023/24: £61,057.92)
During the Trustees received employment benefits totalling £16,302.31. (2023/24: £0)
Page 14
Wellspring Church Leicester (formerly known as King's Church Leicester)
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31st AUGUST 2025
10 Tangible fixed assets
| Cost or valuation At 1 September 2024 Additions Gains / (losses) on revaluation Disposals At 31 August 2025 Accumulated depreciation At 1 September 2024 Charge for the year Eliminated on disposal At 31 August 2025 Net book value At 31 August 2025 At 1 September 2024 11 Debtors Falling due within one year: Tax recoverable Outstanding Room Hire Other debtors Total debtors 12 Current Assets Cash at bank with immediate access 13 Current Assets Foodbank Stock 14 Creditors: liabilities falling due within one year Accruals |
Admin Equipment £ - 1,320.00 - - 1,320.00 - 146.68 - 146.68 1,173.32 - |
Sound System £ - - - - - - - - - - - |
Maintenance equipment £ - 2,088.00 - - |
Vehicles £ - 147.02 - - 147.02 - 147.02 - 147.02 - - 2024/25 £ 1,970.25 11,030.10 - 13,000.35 13,000.35 |
Total 2024/25 £ - 3,555.02 - - |
|---|---|---|---|---|---|
| 2,088.00 | 3,555.02 | ||||
| - 139.20 - |
- 432.90 - |
||||
| 139.20 | 432.90 | ||||
| 1,948.80 | 3,122.12 | ||||
| - | - | ||||
| 2023/24 £ 5,856.00 - 2,000.00 |
|||||
| 7,856.00 | |||||
| 7,856.00 |
|||||
| 2024/25 £ 184,057.55 184,057.55 3,828.60 3,828.60 2024/25 £ 5,016.57 5,016.57 |
2023/24 £ 138,754.99 |
||||
| 138,754.99 | |||||
| - | |||||
| - | |||||
| 2023/24 £ 2,695.04 |
|||||
| 2,695.04 |
Page 15
Wellspring Church Leicester (formerly known as King's Church Leicester)
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31st AUGUST 2025
15 Pension commitments
During the year employer’s pension contributions totalling £6,470.53 (2023/24: £5,310.72 ) were payable to defined contribution personal pension schemes.
16 Funds
During the year the movements in the charity's funds were as follows:
| Designated Funds Manor House General Unrestricted Funds Total Unrestricted Funds Restricted Funds CAP Foodbank Community Events Newday Pastoral Aggregate of funds |
Opening balance 2024/25 £ - - 115,779.65 115,779.65 28,136.30 5,493.11 19,148.99 - 921.39 2,572.81 143,915.95 |
Incoming resources 2024/25 £ 128,162.20 128,162.20 118,857.20 247,019.40 106,393.24 1,129.02 95,190.47 1,000.00 7,323.75 1,750.00 353,412.64 |
Outgoing resources 2024/25 £ (83,376.24) (83,376.24) (118,487.15) (201,863.39) (96,473.15) (8,237.85) (77,877.02) (2,034.60) (5,268.53) (3,055.15) (298,336.54) |
Transfers in the year 2024/25 £ - - (1,034.60) (1,034.60) 1,034.60 1,034.60 - |
Gains and losses 2024/25 £ - - - - - |
Closing balance 2024/25 £ 44,785.96 44,785.96 |
|---|---|---|---|---|---|---|
| 115,115.10 | ||||||
| 159,901.06 | ||||||
| 39,090.99 1,615.72 - 36,462.44 - 2,976.61 1,267.66 |
||||||
| 198,992.05 |
Our Manor House Fund is a designated fund used to run our Community Centre. Income is almost exclusively from the letting of rooms at the centre, with expenditure covering the operating costs of the centre.
Our CAP fund is used to run our Christians Against Poverty Debt Centre. This covers the day to day expenses of the centre as well our partnership payment to CAP and salaries of centre staff
Our Foodbank fund is used to run our Foodbank that operates out of Manor House Community Centre. This includes donations, both financial and that of stock.
Our Community Events Funds is used for two events that we run each year from Manor House Community Centre, funding comes from local ward funding, with any additional funding required taken from our General Fund.
A gift day is held each to raise funds to send our youth to the youth festival Newday, any excess funds and the end of the year stays in the fund for future years.
The pastoral fund was established to support those primarily within the congregation during the cost of living crisis. People give directly to this fund and it is the proceed then used to support those who require it as financial pressures increase. The distribution of these funds are decided upon primarily by the Senior Leadership Team with consolation to the trustees for larger amounts.
Page 16
Wellspring Church Leicester (formerly known as King's Church Leicester)
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31st AUGUST 2025
Analysis of net assets by fund
The assets and liabilities of the various funds were as follows:
| assets and liabilities of the various funds were as follows: | |||
|---|---|---|---|
| Tangible fixed assets Debtors Cash at bank and in hand Other current Assets Creditors falling due within one year Creditors falling due after one year |
General Designated funds funds £ £ - 3,122.12 1,850.25 11,030.10 112,341.76 36,322.90 - - (2,199.03) 2,567.04 - - - 111,992.98 47,908.08 Unrestricted Funds |
Restricted funds £ - 120.00 35,392.89 3,828.60 (250.50) - 39,090.99 |
2024/25 £ 3,122.12 13,000.35 184,057.55 3,828.60 (5,016.57) - |
| 198,992.05 |
Analysis of net assets by fund in previous year
The assets and liabilities of the various funds were as follows:
| Tangible fixed assets Debtors Cash at bank and in hand Other current Assets Creditors falling due within one year Creditors falling due after one year |
General Designated funds funds £ £ - - 4,736.25 - 113,738.44 - - - (2,695.04) - - - 115,779.65 - Unrestricted Funds |
Restricted funds £ - 3,119.75 25,016.55 - - - 28,136.30 |
2023/24 £ - 7,856.00 138,754.99 - (2,695.04) - |
|---|---|---|---|
| 143,915.95 |
17 Donations
During the year the charity received donations totalling £43,642 (2023/24: £40,010) from related parties (which includes trustees, any other members of key management and anyone closely connected to them).
During the year the charity received donations of £68,289.28 from Manor House Community Centre a Community Interest Group that is ceasing to exists. This process began in the last financial year and as part of the transfer process, Hugh Potter and William Pearce joined the trustees of Manor House Community Centre to assist in the smooth transfer of assets and operations to Wellspring Church Leicester. Nicholas Kerwin, a trustee of Manor House Community Centre, has become a trustee of Wellspring Church Leicester as part of the transition.
Page 17
Wellspring Church Leicester (formerly known as King's Church Leicester)
DETAILED STATEMENT OF FINANCIAL ACTIVITIES WITH COMPARATIVES
FOR THE YEAR ENDED 31st AUGUST 2025
| Note INCOME AND ENDOWMENTS FROM: Donations and legacies 3 Charitable activities 4 Investments 5 Trading Activities 6 Other Income 7 Total income and endowments EXPENDITURE ON: Charitable activities: 8 Other Total Expenditure Net income/(expenditure) Transfers between funds 16 Other recognised gains/(losses): Gains/(losses) on revaluation of fixed assets Other gains/(losses) Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward 16 |
General Designated 2024/25 2024/25 £ £ 118,507.75 1,000.00 70.00 17,378.11 279.45 416.45 - 64,925.55 - 44,442.09 118,857.20 128,162.20 118,487.15 83,376.24 - 118,487.15 83,376.24 370.05 44,785.96 (1,034.60) (664.55) 44,785.96 (664.55) 44,785.96 115,779.65 - 115,115.10 44,785.96 Unrestricted funds |
Restricted 2024/25 £ 34,869.11 1,345.00 77.01 - 70,102.12 106,393.24 96,473.15 96,473.15 9,920.09 1,034.60 10,954.69 10,954.69 28,136.30 39,090.99 |
Total 2024/25 £ 154,376.86 18,793.11 772.91 64,925.55 114,544.21 353,412.64 298,336.54 - 298,336.54 55,076.10 - 55,076.10 - - 55,076.10 143,915.95 198,992.05 |
General Designated 2023/24 2023/24 £ £ 122,562.09 275.25 296.88 - - 123,134.22 - 121,453.97 368.34 - 121,453.97 368.34 1,680.25 (368.34) 749.31 (774.31) 2,429.56 (1,142.65) 2,429.56 (1,142.65) 113,350.09 1,142.65 115,779.65 - Unrestricted funds |
Restricted 2023/24 £ 29,778.71 995.00 - - 30,773.71 24,368.03 24,368.03 6,405.68 25.00 6,430.68 6,430.68 21,705.62 28,136.30 |
Total 2023/24 £ 152,340.80 1,270.25 296.88 - 153,907.93 146,190.34 - 146,190.34 7,717.59 - 7,717.59 - - 7,717.59 136,198.36 143,915.95 |
|||
|---|---|---|---|---|---|---|---|---|---|
Page 18
Wellspring Church Leicester - 2025 Accounts - Final for Signing
Final Audit Report
2026-06-10
Created: 2026-06-09 By: Lawrence Renn (lawrence.renn@stewardship.org.uk) Status: Signed Transaction ID: CBJCHBCAABAAx33ccGVhODWc4NvOgPm05gvJaso-jndH
"Wellspring Church Leicester - 2025 Accounts - Final for Signing " History
Document created by Lawrence Renn (lawrence.renn@stewardship.org.uk)
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Agreement completed.
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