**Charity registration number 1205637 (England and Wales)**
## **ST LEONARDS' WELL**
**ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MAY 2024**
## **ST LEONARDS' WELL**
## **LEGAL AND ADMINISTRATIVE INFORMATION**
**Trustees**
Revd A Cooper Revd W Earle M Metcalfe - Carr
**Charity number (England and Wales)**
1205637
**Independent examiner**
Jerroms Lumaneri House Blythe Gate Blythe Valley Park Solihull West Midlands B90 8AH
## **ST LEONARDS' WELL**
## **CONTENTS**
||**Page**|
|---|---|
|Trustee report|1 - 2|
|Statement of trustee responsibilities|3|
|Independent examiner's report|4|
|Statement of financial activities|5|
|Balance sheet|6|
|Notes to the financial statements|7 - 11|
## **ST LEONARDS' WELL**
## **TRUSTEE REPORT**
## _**FOR THE PERIOD ENDED 31 MAY 2024**_
The trustees present their report and financial statements for the Period ended 31 May 2024.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Charities Act 2011 and “Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)” (as amended for accounting periods commencing from 1 January 2016)
## **Objectives and activities**
To advance the Christian religion in Warwickshire and the surrounding areas for the benefit of the public through the provision of a place of worship, weekly celebration of religious services and communion, prayer meetings, religious ceremonies, public celebration of religious festivals, religious education and providing outreach and pastoral care to the community.
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.
## **1.Promotion of Christian Faith for the benefit of the public.**
The Abbey Church of St Leonard is located on the privately owned Wroxall Abbey Estate in Warwickshire. The church was built in the 14th century and has held some form of worship throughout the centuries, with some occasional closures for well documented historic reasons.
The most recent closure was during the pandemic, its prior ministry having ceased activities in late 2019.
In late 2022, the current leadership of the charity approached the estate management, with a view to restoring a thriving worship community. The current leadership had been involved with the church (as attendees and supporters in various forms, via other ministries and charities) for over 15 years - and felt they were well positioned to support this community.
A new worshipping community was established in March of 2023. Steps were taken to register the activity as a charity, along with charity banking facilities, and such was completed the same year. The ministers registered the building with Warwickshire Registry Office as a place of worship once more and also registered its ministered to conduct Christian marriage ceremonies - and we have four ministers authorised to do so.
Apart from a brief gap of 8 weeks due to operational issues on the estate beyond our control (now resolved with our own access keys to the site), the charity has been responsible for running services at this site since that time. The team have held weekly services at 4pm each Sunday, and also conducted one wedding, one baby dedication and one funeral. During the winter months of 2023 (due to heating issues) the congregation temporarily relocated to the local village hall (less than 1 mile from the church) - also operated by a local charity. However, provisions were made for the winter of 2024, so moving temporarily again has not been necessary.
Whilst the charity is not restricted to holding services and meetings solely at The Abbey Church of St Leonard it is regarded as being its spiritual, and thus, preferred home.
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## **ST LEONARDS' WELL**
## **TRUSTEE REPORT (CONTINUED)** _**FOR THE PERIOD ENDED 31 MAY 2024**_
## **2. Promoting best practice in social care**
We continue to be committed to sharing models of partnership working in relieving inequality and demonstrating a practical outworking of the Christian faith which benefits all members of the community, not just believers.
We continue to support and encourage intervention strategies for the most vulnerable in society. The charity is based on Wroxall Abbey Estate which, historically, has been associated with women since the establishment of the Priory there in 1141AD.
It is the intention of the charity to build a thriving church community, offering pastoral support and teaching in line with the faith foundation.
The church itself is a member church of The Order of St Leonard.
## **Achievements and performance Financial review**
The meetings of the trustees monitor the progress during the year and all decisions are made on the basis of these results and future expectations.
The trustees have assessed the major risks to which the charity is exposed and are satisfied that systems are in place to mitigate exposure to the major risks.
The trustees have assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.
## **Structure, governance and management**
The charity is controlled by its governing document, a deed of trust, and constitutes an unincorporated charity.
The trustees who served during the Period and up to the date of signature of the financial statements were: Revd A Cooper
Revd W Earle M Metcalfe - Carr
The board of trustees of 3 members, who meet at least every 4 months, administers the charity.
The trustee report was approved by the Board of Trustees.
.............................. .............................. Revd A Cooper M Metcalfe - Carr **Trustee Trustee**
Date: .............................................
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## **ST LEONARDS' WELL**
## **STATEMENT OF TRUSTEE RESPONSIBILITIES**
## _**FOR THE PERIOD ENDED 31 MAY 2024**_
The trustees are responsible for preparing the Trustee Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial Period which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that Period.
In preparing these financial statements, the trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charities SORP;
- make judgements and estimates that are reasonable and prudent;
- state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The trustees are responsible for keeping sufficient 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, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. 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.
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## **ST LEONARDS' WELL**
## **INDEPENDENT EXAMINER'S REPORT**
## **TO THE TRUSTEES OF ST LEONARDS' WELL**
I report to the trustees on my examination of the financial statements of St Leonards' Well (the charity) for the Period ended 31 May 2024.
## **Responsibilities and basis of report**
As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011.
I report in respect of my examination of the charity’s financial statements carried out under section 145 of the Charities Act 2011. In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the Charities Act 2011.
## **Independent examiner's statement**
Your attention is drawn to the fact that the charity has prepared the financial statements in accordance with the relevant version of the Statement of Recommended Practice applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn. I understand that this has been done in order for the financial statements to provide a true and fair view in accordance with UK Generally Accepted Accounting Practice.
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 that in any material respect:
- 1 accounting records were not kept in respect of the charity as required by section 130 of the Charities Act 2011.
- 2 the financial statements do not accord with those records; or
- 3 the financial statements do not comply with the applicable requirements concerning the form and content of financial statements set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the financial statements 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 financial statements to be reached.
Mr Richard Horton FCCA For and on behalf of Jerroms
Lumaneri House Blythe Gate Blythe Valley Park Solihull West Midlands B90 8AH
Dated: .........................
- 4 -
## **ST LEONARDS' WELL**
## **STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT**
## _**FOR THE PERIOD ENDED 31 MAY 2024**_
|||**Unrestricted**|
|---|---|---|
|||**funds**|
|||**2024**|
||**Notes**|**£**|
|**Income from:**|||
|Donations and legacies|**3**|15,276|
|**Total income**||15,276|
|**Expenditure on:**|||
|Charitable activities|**4**|14,175|
|**Total expenditure**||14,175|
|**Net income/(expenditure) and movement in funds**||1,101|
|**Reconciliation of funds:**|||
|Fund balances at 8 November 2023||-|
|**Fund balances at 31 May 2024**||1,101|
The statement of financial activities includes all gains and losses recognised in the Period. All income and expenditure derive from continuing activities.
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## **ST LEONARDS' WELL**
## **BALANCE SHEET**
## _**AS AT 31 MAY 2024**_
|**2024**
**Notes**
**£**
**Fixed assets**
**Current assets**
Cash at bank and in hand
2,101
**Creditors: amounts falling due within one year**
**10**
(1,000)
**Net current assets**
**Total assets less current liabilities**
**The funds of the charity**
Unrestricted funds
**11**
The financial statements were approved by the trustees on .........................
..............................
..............................
Revd A Cooper
M Metcalfe - Carr
**Trustee**
**Trustee**|**£**
1,101|
|---|---|
||1,101|
||1,101|
||1,101|
|||
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## **ST LEONARDS' WELL**
## **NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE PERIOD ENDED 31 MAY 2024**_
## **1 Accounting policies**
## **Charity information**
St Leonards' Well is a deed of trust, and constitutes an unincorporated charity.
## **1.1 Accounting convention**
The financial statements have been prepared in accordance with the charity's governing document, the Charities Act 2011 and “Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)” (as amended for accounting periods commencing from 1 January 2016). The charity is a Public Benefit Entity as defined by FRS 102.
The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.
The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.
The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.
## **1.2 Charitable funds**
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.
Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.
## **1.3 Incoming resources**
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
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## **ST LEONARDS' WELL**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE PERIOD ENDED 31 MAY 2024**_
## **1 Accounting policies**
## **(Continued)**
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.
Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.
## **1.4 Tangible fixed assets**
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Fixtures and fittings 15% Reducing Balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.
## **1.5 Impairment of fixed assets**
At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).
## **1.6 Cash and cash equivalents**
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
## _**Basic financial assets**_
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
## _**Basic financial liabilities**_
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
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## **ST LEONARDS' WELL**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE PERIOD ENDED 31 MAY 2024**_
## **1 Accounting policies**
## **(Continued)**
## **2 Critical accounting estimates and judgements**
In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
## **3 Donations and legacies**
|Donations and gifts
**Charitable activities**
Ceremonies
Insurance
Administration costs
Consumable items
Promotional
Share of governance costs (see note 5)|**2024**
**£**
15,276|
|---|---|
||**2024**
**£**
250
300
10,870
997
757|
||13,175
1,000|
||14,175|
## **4 Charitable activities**
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## **ST LEONARDS' WELL**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE PERIOD ENDED 31 MAY 2024**_
|**5**
**Governance costs**
**Governance**
**costs**
**£**
Accountancy
1,000
1,000
**6**
**Net movement in funds**
The net movement in funds is stated after charging/(crediting):
Fees payable for the independent examination of the charity's financial statements|**2024**
**£**
1,000|
|---|---|
||1,000|
||**2024**
**£**
-|
## **7 Trustees**
None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the Period.
## **8 Employees**
The average monthly number of employees during the Period was:
||**2024**|
|---|---|
||**Number**|
|Total|-|
There were no employees whose annual remuneration was more than £60,000.
## **9 Taxation**
The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.
## **10 Creditors: amounts falling due within one year**
|**Creditors: amounts falling due within one year**||
|---|---|
||**2024**|
||**£**|
|Accruals and deferred income|1,000|
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## **ST LEONARDS' WELL**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE PERIOD ENDED 31 MAY 2024**_
## **11 Unrestricted funds**
The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.
||**At 8**|**Incoming**|**Resources**|**At 31 May**|
|---|---|---|---|---|
||**November**|**resources**|**expended**|**2024**|
||**2023**||||
||**£**|**£**|**£**|**£**|
|General funds|-|15,276|(14,175)|1,101|
## **12 Related party transactions**
There were no disclosable related party transactions during the Period (2024 - none).
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