REGISTERED COMPANY NUMBER: 1201060 IEngland and Wal•$l REGISTERED CHARtrY NUMBER.. 1201060 REPOR7 OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEM8ER 2024 FOR TILL5PRlNG ANGLICAN CHURCH IPE141BROKÉSHIREI 8evan Buckland LLP Charted Accountants Castte Chambers 6 Weslgale Hill Pembrokè Pembrokeshire SA714LB
WELLSPRING ANGLICAN CHURCH IPEM8ROKESHIREI CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR EIIDED 31 DECEMBER 2024 Pag• Report ofthe Trust 1 10 2 Indgpond•nt Ex•mln•rfs Report Statement of Flnandal Actlvltles Balanc• Sh•ot Not•• to the Flnan¢ial Statement8 6 10 9 D•lall•d Ststwnont of Flnan¢lal AGtlvttl•s 10
WELLSPRING ANGLICAN CHURCH IpeMBROKesHIREI REPORT OF THE TRLISTEES FOR THE YEAR ENDED 31 DECEkl8ER 2024 The Irustees who are also directors ol lh8 charity for lh8 purposes of Ihe Compani8s Act 2006. presenl their report with riThancial statements of the tharily lor Ihe yeaf ended 31 December 2024. The trustees have adopted th8 provisions of Ac¢wnlin9 and ReportiThJ by Charities." Slalement of Re¢ornmended Practi applicab18 to charities pr8paan9 their account$ in accordanco hith Ihe Financial Rewrting S18ndard applicable in the UK and Republic of Irdond IFRS 1021 leff8CtiV8 1 January 20191. 08JECTIVES AND ACTNMES OblectS¥•5 and alrns Wellspnna exists for ihe advancgmenl and prlamatIon of thg Christian faith. During 2024 wollspn.ro held a eklY 58rvic8 of worship, a weekly prayer rne81iThJ and a %%tèkly bible study. These took pkee alongsKbe other 8cth"wties such as parish vi&ting, evangelistic gvenis, mission 8etivilias. The Injstees habt congstently endeavoured to pursue our tharitae airns. OuriThJ 2024, the sole employee Ilhe rector) worked alongsh vdunteers in dl BCti¥itses conducted by the church. ACHIEVEMENTS AND PERFORMANCE Charftabte actlvt11•6 Wdlspring h85 offered care and support lo vaThius rnerntrs of our community through pray8r. vi8rting the Sick etc... M8mb8r5 oltha ehw¢ have been supported in th8ir day to day IivÈs by Ouf minister and ourtrustees. Wdlwng have )stad a nurnb8r of 8vents IDr church members and for the wider comrnunity in 1Sn8 wSth our charitsbje aims Its prodaim th8 chriS.8n f8ith. Wdlspring has grown nunrically during the year past. FINANCIAL REVIEW Flnanclal pmldon During Ihe year the charity rerx)rdgd a dsffieit of È6.798. Due to historical 8urplu¥ thg Truslgès aro rY)t (oncemed tagafding trir Current fana81 position. Principal fundlng ¥ource• The Charity is priMarY supM•d th9h voluntary regular giving and on• off donatio. Im1¢m•nI pollcy and obloctiv•$ The oharity does no¢ hold investments. ReBerv•s poll¢y The TSe$, whilst recognlslng ts need for è Reserve Policy. have ¢Jetemilned the appropriatè of reseNe to be held is £2,5Q). STRUCTVRE, GOVERNANCE AND IAANAGEMENT Goveming document The ¢harity is gov8rn•rl by the CIO'$ consb"tution. Re¢rultrnent and appointment of n•w trustee8 TNstees are appointed IntemlY by thè &xlstsn9 Irustgeg. Al trust8e5 ar8 requ¥r•d lo consent to our foundirg do¢umen¢6 including cw Slaternents of belief and pTrctSce. IganisatIonal stntrclur• Wdlspring operates as part of Anglican ConvocatH)n in Europe 18 itself a CIO. Hty%ver, as a charSty in ifs ry*4n right Wollspring is self govewThThJ. REFERENCE AMD ADMINISTRATIVE DETAILS R•gister•d Comp•ny numbar 1201060 (England and Walgs) R¢glstornd Ch•rlty rtUmr 1201(0 R•glst•rgd offl Chestnut Cotts9e Rose Valley Li)wer Larnphey Road Pembroke SA71 SNH Pag8 1
WELLSPRING ANGLICAN CHURCH IPEMBROKESHIIEI RepoRT OF THE TRUSTEES FOR THE YEAR ENDED 310ECEM8ER 2024 Tru¥t• Revd J Maynard M A Hughes Mr5 L F1$tOne A S Hay%Yard lappolnted 1.5.251 Revd J A C BaFd8r (appointed 9.6.251 Mrs H M 8ookless (appointed t2.6.251 Company S•¢r•tary Independt Examlnor Bevan Bu¢kland LLP Chortared Accountan C8slÈ Qiamt*rs 6 Weslgate Hill Pembroke Pembrokeshire SA714LB Approved by OTderofthe board ol trnateea on .. 2g./i.o./..z...?............. and siqned on tts behalf by. Rewl J Maynard- Trust•e Pag8 2
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF WELLSPRING ANGUCAN CHURCH IPEMBROKESHIREI independ•nt •xarnln•V$ report to tho trust•e$ of Wellspring Anglican Church (Pembroktshlrel {'¢h• Compa) report to the ¢hartty tnjslees on my èxamination of the accounts of the Company for the year ended 31 Decembef 2024. R•sponslbllltles and basls of report A5 the charitls trustees of the Company land 81so its d1ctOrS ts the purposes of Company lawl you a resp)nsitle for Ihe pr8paration ol th8 accounts in accordance wilh Ihe requlrÉm8nls of the Companie5 Act 2006 Ilh8 2006 ACVI. Hawn9 satisfied myself that th8 gccounts of ts Company are not requir8d io bè audrted under Part 16 01 the 2006 Act and are eligitAe for indep8ndenl 8xaminab"on. I report in respèct of my 4xaminan of your charitys auounls 85 carri8d out under Section 145 of the Charities Act 2011 (the 2011 Acri. In caryng out my e¥arnination I have lollow•J the Direets"ons given by th6 Charity Cornrnission vnder secti( 145151 Ibl OF the 2011 Act. Indopondent examlno¢s stat•m•nt I have coMet6d rny 8xaminatiOn. I confimi thai no Maile havè eom8 to my attanllon In connectlon wth the 8xaminatior¢ giwThJ me eause to believe.. countirg re¢cds re not kept in r8sp8cI of the Company as rgqulred by Sectwjn 386 of tho 20C6 Act., or the accounts do not accord wlh those cOrdS,. or the ac(#)unls do not compby with tho a¢counting requirernent8 of sectic 396 01 the 2Q)6 Act other Ihan any r8quir8mènl tlwt the acccJnts gi a true and lair vthv bthich is Th)t a matter cASIdered a$ part 01 8n ind8pendeTht exarninaln". or ihe accwnls have not been prepared in accordance hth the met1)d$ and yincip18s ol the Statement of Recommended Pr8Ctic¢ for aCCnting and porting by charities lapplicable lo charib.os preparing Ih¢ir accounts in accordanc8 vAlh th8 Financial ReportiNJ Slandard appliC8e in the UK ènd Republic of Irdand {FRS 10211. I hava conc8ms and have ry)me xross no other rnattgws in connecbon th the examinalTon lo which attenth shoukl bè drawn in ihls report in order to gnable 8 p¥yr underslandlng ol the a¢Vt6 to be reachgd. C8rollne J Bevan gu¢Mand LLP Chart8red AcCn(ants C8$18 Chambers 6 We5tgale Hill Pgmbroke Pembrokeshlre SA714LB 33 0(&E)*J 2£>xS P4è3
bYELLSPRING ANGLICAN CHURCH IPeM8ROKESHIREI STATEMEPn OF FINANCIAL ACTIVITES FOR THE YEAR ENOED 31 DECEMBER 2024 Period 18.11.22 Year Ended 31.12.24 Tolal funds 31.1223 Total fund5 Unrestricted ftJThJ Reslric18d fund INCOMe AND ENDovHeNTS FROM Dollatsons and legaGles 24,862 25,362 23,668 EXPENDITURE ON ctabl• •¢tlvltl•• Delivering the carits.es obJ"•¢tl¥es 31,6 5(X) 32,160 9.278 NET INCOMEIIEXPENDrruREI Transf•fs b•tw••n ftjnds 16,7981 2.507 16.7981 14,390 12,5071 Net movement In fund• 14.2911 12,5071 16,7981 14.Wa) RECONCIUATION OF FUNDS Total funds brought forward 28.968 3.507 32.47S 18,OB5 TOTAL FUNDS CARRIED FORWARD 24,677 1,000 25.677 32,475 The r18$ forrn part of th8se financid Stateme15 Page 4
WELLSPRING ANGLICAN CHURCH IPEM8ROKESHIREI BALANCE SHEET 31 DECEMBER 2024 2024 Tolal funds 2023 Total funds UnrestrKted fvnd Restricted fund Notes CURRENT ASSETS Cash at bank anil In hand 25.217 1,500 26.717 32,475 CREDITORS AJnounls falling due wthin one year 15401 15001 11,0401 NET CURRENT ASSETS 24.677 25,677 32,475 TOTAL ASSETS LESS CURRENT LIABILMES 24,677 25.677 32.475 NET ASSETS 24,677 1.000 25,677 32,475 FUNDS Unrestricted lunds Reslricied lunds 24.677 1,000 28.968 3.507 TOTAL FUNDS 25.677 32.475 The eharitable cornpany is entiugd lo txamption Irom audlt under Sectlon 477 of thè QJmp8rMas Aet 20 for the year ended 31 December 2024. The mernbers have not leould the rrmpany to rt>tsin an audit of its ffinanclal stsiefflents for Ihe ar anded 31 Dec8tnb8r 2024 In atrAxdance wth Sectirffi 476 of th• Companies Act 2006. The twstees ad¢novAe(19e ththr rèsponsbbi1th8S for lal ensuring that the charitable company keeps a¢tIng record5 that comTAy Sethons 386 and 387 of the cnPanieS Act 2006 and preparing financial slalements which g¢¥e 8 trus 3t5d fair view of the slate of affairs of the charit81Ag wmpany as al the gnd ol 8ach financkgl year 8nd of its Sur$ or deficit for each ffftancial y88r in 8ccordarft wth the requlrements of Sec& 394 and 395 and b¥hkh othewsg comply with Ihe r8quiTem8nts Df the Cornpanies Act 2006 relating to finan81518teme1 $0 lar as ap1¢able to Ihe charitable cofflpany. Thesè finanaal statements hav6 been prepargd in a¢eord8nee wth thè provisKns appliCae io tharit*8 COrnpan5 subiecl to the small cc#rpanies regtme. ststernents w8r8 apwov8d by tre Board of Trust88s and authorisgd for Sssuo and were s¥)ned ort its beh811 by.. on J Maynard- Tstee J A C Barder- Trustee The notes form part th858 financial statements Pag6 S
WELLSPRING ANGLICAN CHURCH IPEMBROKESHIREI NOTES ro THE FINANCIAL STATEMENTS FOR THE YEAR EPIDED 31 DECEMBER 2024 ACCOUNTING POUCIES 8asl# of prep•rfftg the finan6lal stst•mnts The financi81 slatements of th8 charilable company. which is 8 pU1C bereftt entily under FRS 102. have been prepored in dance With the Chariues SORP IFRS 1021 'Accounbng and Reportill9 by Charities.. Stalemenl of Recommended practi applicaNe to ¢hanties pparing thelr ac¢ounts in accordance wth Ihe Financial Roporting Stsnd8rd applicable in the UK and Republic ol lleland IFRS 102118ff8Ctive 1 January 20191., Financial Reporting Standard 102'The Financial Reporting Standard apr4icatye in th8 UK and ReputAic of Ireland. and Ihe Companies Acl 2006. The financial stalements have been prepared under Ihe hiStCal cost convention. In¢ome l income is recognis8d in Statement of Finan¢k?l A¢ts'vllie$ once Ihe charily has enlitlement to the lunds, it is protrable thal the iK(m6 whll be receNed and the amount can be measured reli8bly. Exp•ndltu Liabilities are recoDnised as 8XP8nditure 8s 8s tt)ere is a lJal or ¢onstrucbv8 oNi9ation c£¥nmittsng th8 charrty lo thal expenditure, it is probable that a transfer ol ecknnomic beneftts wll te required in setuement and the amount of th8 obligation can bè measured reliatly. Expenditure Is accounted for on an accDJal$ basls and has tjeen classifi8d under headrys that aggregate all 5t relad to the categcry. Where costs cannol b¢ diTtty attributed to parb"cular headings they have been alloca18¢J to 3clivitl8S Dn a basis Consistent vmh th8 use of restyjrees. Taxatlon The charity i5 exempt from corporation tsx on rts charitsble activitiÈS. Fund a¢¢ountlnq Unrestricted funds be used in accordance wth the charitable obSecbve$ at ts discretifm of the trustees. Restricted fijnds cAn only be used particular restricted pUrpS vlithin the objeeis of the charfty. Restrlctlon8 arise when specified by th8 don£¥ or bvhen funds ale rnised for particular re51rKtéd purposes. Furlher 8xp4anatk)n of the nafvre and purpose (rf each fu#d Is Induded in the notes to the financkgl ststem8nts. Pènlion eosts and other post-r•lir•rngnt b8n•f The charitable company opgrales a defined contributk)n pension stheme. Contributions p8y8ble to the ch8ritsble compafiys pension Stheme are ch8rged io thg Sr8t•menl ol FinGla1 Actlwlies in the period to which they relat8. TRUSTEES. REMUNERATION AND BENEFITS PeriLJ 18.11.22 Ye8f Ended 31.12.24 31.12.23 Trustee$. Salaries Truste¢s' pension £tributiOnS to money purchase Sths 19,888 20,187 See lated party note 8. Tty$t. ¢Mp•nJes The wefe no tnJst888' eXP8nses pald for Ihè year 8nded 31 08cemb8r 2024 rK)r for the period eThJed 31 Decemter 2023. Pag8 6 continuod...
WELLSPRING ANGLICAN CHURCH IPEMBROKESHIREI NOTES TO THE FINANCIAL STATEMENYS- ¢ontlnu•d FOR THE YEAR ENDED 31 DECEM8ER ZOZ4 STAFF COSTS The average monthty number of employee5 durin9 lh8 y8ar was as follow5.. Period 18.11.22 Yèar Ended 31.12.24 31.12.23 Full and part afl No empk)yee6 receIV emrAumenls in ex$$ 01 £60,000. COMPARATIVES FOR rNe STATEMENT OF FINANCIAL ACTMllES UnreslrictJ fund Reslrlcted fund Total (unds INCCAIE AND ENDOWIIIENTS FROM Donab'ons and1gga¢ie$ 19,161 4.507 23.668 EXPENDMIRE ON ¢harflable aCtitIeS Deljvering the caribès obiectNes 8.278 9,278 ET WCOIIE 10,883 3.507 14.3 RECONCILIATION OF FUNDS Total funds broughl loNrd 18.085 18.085 TOTAL FU14DS CARRIED FORWARD 28,968 3,507 32.475 RESTRICTED FUNDS DurirvJ the year Ihe Charity received 8 dooations 01 £500 from 8 p8rishion8r. Th8 donation was r•gtrteted, to be used as parishioner support.1 amounts wero spent in year, no arnounts outstanding. CREDITORS: AMOU1 FALLING DUE wmiiN ONE YEAR 2024 2023 Othgr ued*lors Accrued èxpenses 540 1,040 MOVEMENT IN FUNDS Tr8n6fers be8811 fund5 At 31.12.24 At 1.1.24 in fittKIs Unr•strkt•d lund¥ General fund 28,968 16.7981 2.507 24.677 R•striet•d funds Re51ricted fund S.507 12.5071 1,000 TOTAL FUNDS 32,475 16,7981 25.677 Page 7 continU8d...
WELLSPRING ANGLICAN CHURCH IPEM8ROKESHIREI MOTES TO THE FINANCIAL STATEMENTS- ¢ontlnu•d FOR THE YEAR ENDEO 31 OECEMBER 2024 MOVEMENT IN FUNDS- conifjnu Net movement in fu1$. incIled in the above aig follow5.. Incomlng rosour Re8ource8 expend8d Movernent in funds Unrestrictod fund4 General lund 24,862 131,6601 16,7981 Restrlcted funds Restricted fund 500 15CQI TOTAL FUNDS 25,362 132.1601 {6.7981 Comparatl¥e• lor movement in funds Net nTh)vement in ftjnds Al 18.11.22 At 31.12.23 Unre$trl¢ted fund• Genefal fund 18,085 10,883 28,968 RostrlGl•d fvttds R88tricle(I fund 3,507 3.507 TOTAL FUNDS 18.085 14.390 32,475 ComparatlV8 net rrment in lunds, GIe ITr Ihe above are as frAkx4s: IncDmirrfJ re5OJTce$ Reseurces eXpded Movement In fvrKJs Unrestrict•d fund• Gèneral fund 19,161 18.2781 10.883 R•$trfct•d fvnds Reslricted fund 4.507 11.(X)01 3.507 TOTAL FIJMDS 23.668 19.2781 14.390 Transf•rs b•lw••n funds Th8 re5tsicted bJnd5 brought forwa r8Garding the Rw8nd8 prci8Ct was inccrrect. The expenditure relating lo the Rwanda pro11 was mado in 2022 and was not match8d to thè apwopriaia fund. Thorelore a Iranslgr Irom the strided lund to the unrestrie1 fund wès made. Page 8 continu8d...
WELLSPRING ANGUCAN CHURCH IPEMBROKESHIRÉI NOTES TO THE FINANCIAL STATEMENTS- ¢ontlnu•d FOR THE YEAR ENDED 31 DECEMBER 2024 RELATED PARTY DISCLOSURES Dunng the perbd under re a salary and pensi1 ¢ontributions re made to Revd J Maynard. a Trustee. Thls compl$ th the charty's fA)n3lilutk)n and no amounts w8ra outs&nding at the year 8nd. Page 9
WELLSPRING ANGLICAN CHURCH IPEMBROKESHIREI DEfAILeD STATEMENT OF FINANCIAL ACTMn&8 FOR THe YEAR ENDED 31 DECEMBER 2024 PariL Year Ended 31.12.24 31.12.23 INCOME AND ENDOWMENTS Donatlons and logacl Gifts Dty)8tions Klaynar4 Famly Minister Rwanda Conference 1.775 23,587 5,262 13,899 2.507 25.362 23,668 Totsl incoming ruourc• 25,362 23.66B EXPENDITURE CharftablB aGtIth Tru8le88' sdari85 Trustees, pension LX)ntributions Hall and offlce hi Insurance Sundries Maynard Family M155bn Ministries Facilities Anglican Conv(tabon Personnel ParishK)ngr8 YUPPOrt 19.888 299 3,781 289 378 3,372 249 170 676 426 1,356 2.737 431 1.530 336 500 30.330 9,278 Support costs Support costs Account8n¢y 10OS Professi81 fe8S Payrt41 fees Training $15 540 377 653 1,830 Total resources eypended 32.160 9,278 Net (expendlttYlncoM 16.7981 14.390 Ths pagè doe6 nol form part ofthe ststutory fin8nts818lalements Pag• 10