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2025-03-31-accounts

Charity no: 1206449

BETHEL UNITED CHURCH OF JESUS CHRIST APOSTOLIC (THE WELL)

Charitable Incoporated Organisation

Annual Report and Accounts

For the year 31 March 2025

Prepared by DTT Consultancy Ltd

BETHEL UNITED CHURCH OF CHRIST APOSTOLIC (THE WELL)

Contents Page
Company Information 1
Independent Examiner's Report 2
Chairman's Report 3
Annual Report 4
Statement of Financial Activities 5
Balance Sheet 6
Notes to the Accounts 7-8

BETHEL UNITED CHURCH OF JESUS CHRIST APOSTOLIC (THE WELL)

Company Information

Trustees

Dean Jason Wright (President) Nicholas Larkland Barnaby Myers (Vice President) Jacqueline Elaine Jacobs (Secretary) Tracey Ann Lewin (Treasurer)

Place of worship

All Saints Primary School Upper Beulah Hill London SE19 5NS

Registered office (correspondence only)

Denmark Hall Denmark Road South Norwood London SE25 5RE

Registered number

1206449

Accountants

DTT Consultancy Ltd 36 Daffodil Close Hatfield AL10 9FF

Page 1 of 8

BETHEL UNITED CHURCH OF JESUS CHRIST APOSTOLIC (THE WELL)

Chairman's Report

Introduction

On behalf of the Board of Trustees, I am pleased to present this report on the activities and developments of The Well for the financial period ending 31 March 2025. This period also reflects the transition to a Charitable Incorporated Organisation (CIO) on 9 January 2024.

This has been a landmark year in the life of the charity, marked by significant spiritual, operational and financial progress. All of which reflects our commitment to strengthening the foundations of our work for the future.

A Milestone Achievement: Building Acquisition

The most notable development during this reporting period is the successful purchase of our new church home on Denmark Road in South Norwood — a first in the nearly 50-year history of The Well’s ministry in London. The property does have to undergo a significant program of refurbishment, but we trust that it will be a house dedicated to the worship of the Most High and expansion of His Kingdom.

This acquisition represents a very important advancement for the charity and we are eternally grateful to God for His providence. The building will provide a stable, long-term base for ministry, worship services, teaching programmes and community outreach. It will also reduce long-term costs associated with venue hire and opens new opportunities for The Well to impact the surrounding community.

The purchase was made possible through the dedicated financial contributions of our members both past and present, partners and friends, along with prudent stewardship and planning by the Board of Trustees.

Activities and Impact

Throughout the year, The Well has continued to deliver its core programmes and activities, including:

Financial Overview

The charity’s financial performance for the year reflects the impact of the building purchase, including a significant capital outlay. Total incoming resources for the period to 31 March 2025 of £119k marks an increase of 23% when compared to prior year (31 March 2024: £97k). Expenditure for the period (excluding one-off property related costs) was £27k, which is a 13% decrease on the prior financial year (31 March 2024: £31k).

A full breakdown of income and expenditure can be seen in the Statement of Financial Activities presented further on in this report.

The trustees confirm that The Well remains in a sound financial position and that all expenditure during the year was in line with our charitable purposes. Appropriate financial controls and risk management measures are in place, certainly considering the recent capital investment.

Governance and Oversight

Regular trustee meetings have been held during the year, with ongoing reviews of compliance, financial stewardship, and organisational strategy. The trustees are committed to maintaining high standards of accountability and integrity.

The Board of Trustees continues to provide strategic oversight and governance, ensuring that the charity operates in accordance with its constitution, relevant legislation, and the guidance of the Charity Commission.

Looking Ahead

The year ahead presents exciting opportunities. As we anticipate expanding our teaching and outreach ministries, in addition to increasing community engagement. Our mission remains rooted in the apostolic faith, with a desire to serve our community and see souls saved for the Kingdom of Christ. We move forward with gratitude for the past and faith for the future.

Acknowledgements

We express our sincere thanks to all who have supported The Well during this pivotal year. Above all, we give thanks to God for His continued provision, guidance and faithfulness.

Page 3 of 8

BETHEL UNITED CHURCH OF JESUS CHRIST APOSTOLIC (THE WELL)

Annual report commentary for period ending 31 March 2025

The Trustees present their report and the financial statements for the year ended 31 March 2025. The financial statements have been prepared in accordance with the accounting policies set out on page 2 and comply with the Statement of Recommended Practice (SORP2005).

Our aims and objectives

Bethel United Church of Jesus Christ Apostolic (The Well) exists in order to advance the Christian (Apostolic) faith in accordance with the Holy Bible. This involves engaging in missionary work and training of missionary workers, both men and women, to teach the tenets of worship anywhere in the community and beyond.

Governance

Bethel United Church of Jesus Christ Apostolic (The Well) is governed by articles of constitution dated 20th December 2023. Registration as a Charitable Incorporated Organisation (CIO) with the Charity Commision became effective as at 9 January 2024 under charity number 1206449.

2. Trustee appointment

(i) At the first annual general meeting of the members of The Well all the charity trustees shall retire from office;

(ii) Every three years at the annual general meeting of the members of The Well, one-third of the charity trustees shall retire from office. If the number of charity trustees is not three or a multiple of three, then the number nearest to onethird shall retire from office, but if there is only one charity trustee, he or she shall retire;

(iii) The charity trustees to retire by rotation shall be those who have been longest in office since their last appointment or reappointment. If any trustees were last appointed or re-appointed on the same day those to retire shall (unless they otherwise agree among themselves) be determined by lot;

(iv) The vacancies so arising may be filled by the decision of the members at the annual general meeting; any vacancies not filled at the annual general meeting may be filled as provided in sub-clause (5) of this clause;

(v) The members or the charity trustees may at any time decide to appoint a new charity trustee, whether in place of a charity trustee who has retired or been removed in ac-cordance with clause [16] (Retirement and removal of charity trustees), or as an additional charity trustee, provided that the limit specified in clause [13(3)] on the number of charity trustees would not as a result be exceeded;

(vi) A person so appointed by the members of The Well shall retire in accordance with the provisions of sub-clauses (2) and (3) of this clause. A person so appointed by the charity trustees shall retire at the conclusion of the next annual general meeting after the date of his or her appointment, and shall not be counted for the purpose of deter-mining which of the charity trustees is to retire by rotation at that meeting.

3. Annual general meeting

Our last annual general meeting was held on Wednesday 10th July 2024 ( under charity no.1156771). There were no new names submitted to be considered for election for the 2024/25 year. All of the Trustees listed in page 1 were reelected to serve for another year.The unicorporated charity was dissolved on 7th August 2024 in accordance with the constitution and confirmed by the voting members.

Dean Wright President

Page 4 of 8

BETHEL UNITED CHURCH OF JESUS CHRIST APOSTOLIC (THE WELL)

Statement of Financial Activities

For the year ended 31 March 2025

Notes
Incoming Resources
Tithes, offerings and thanksgiving
5.1
Building
Bank interest received
HMRC Gift Aid
Total incoming resources
Resources Expended
5.2
Management and administration
5.3
Total resources expended
Net incoming/(outgoing) resources
Net Movements in Funds
Fund balances brought forward
Fund balances carried forward
Support costs of activities in futherance of the
charity's objectives		 Designated
£*
84,516
17,100
11,483
6,060		 Restricted
£
-
-
-
-		 2025
Total
Funds
£
84,516
17,100
11,483
6,060		 2024
Total
Funds
£
78,500
-
7,624
11,272
119,159 - 119,159 97,396
54,658
9,768		 -
-		 54,658
9,768		 21,311
9,659
64,426 - 64,426 30,970
54,734 - 54,734 66,426
54,734
637,679		 -
-		 54,734
637,679		 66,426
570,971
692,412 - 692,412 637,679

*Incoming resources for The Well are intended to be used for the furtherance of the charity's objectives, with funds primarily designated for the purchase of a place of worship (20th January 2025) and its subsequent refurbishment.

Page 5 of 8

BETHEL UNITED CHURCH OF JESUS CHRIST APOSTOLIC (THE WELL)

Balance Sheet as at 31st March 2025

Notes
Fixed Assets
Tangible assets
Current Assets
Cash at bank and in hand
Total Assets
Creditors
Amounts falling due within one year
2
Net Current Assets/(Liabilities)
Creditors: amounts falling due after one year
Total Assets less Current Liabilities
Designated Funds
Funds b/fwd
Income and Expenditure
Total Funds
3		 2025
Total
Funds
£
850,000
242,122
1,092,122
(500)
241,622
(399,210)
692,412
637,679
54,734
692,412		 2024
Total
Funds
£
-
637,978
637,978
(300)
637,679
-
637,679
570,971
66,708
637,679

Dean Wright Approved by the board on 6th July 2025

Page 6 of 8

BETHEL UNITED CHURCH OF JESUS CHRIST APOSTOLIC (THE WELL)

Notes to the Accounts

For the year ended 31 March 2025

1. Accounting Policies

Basis of preparation

The Financial Statements have been prepared under the historical cost convention and in accordance with the Statement of Recommended Accounting Practice: Accounting and Reporting by Charities (SORP 2005), issued in March 2005, UK Accounting Standards and the Charities Act 2011.

Incoming Resources

Incoming resources represents the value, net of value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers.

Resources Expended

Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Depreciation

Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.

Plant and machinery
20% straight line
Motor vehicles
25% straight line
2. Creditors: amounts failing due within one year
2025
£
Trade creditors
500
3. Profit and loss account
2025
£
At 1 April 2024
637,679
Prior year adjustments
-
At 1 April 2025
692,412
Profit for the year
54,734
Restricted Funds
Designated
Restricted
2025
£
At 1 April 2024
637,679
-
637,679
Prior year adjustments
-
-
-
At 1 April 2024
-
-
-
Net Incoming Funds
54,734
-
54,734
At 31 March 2025
692,412
-
692,412		 2024
£
300
2024
£
571,002
-
637,428
66,426

4. Trustees' Remuneration and Benefits

Page 7 of 8

BETHEL UNITED CHURCH OF JESUS CHRIST APOSTOLIC (THE WELL)

Notes to the accounts - continued

For the year ended 31 March 2025

5 Income and Expenditure Account
5.1 Incoming Resources
Tithes, offering and thanksgiving
Building
Bank Interest received
HMRC Gift Aid
Total Incoming Resources
Outgoing Resources
Stipends
Conferences and Seminars
Accountancy Fees
Marketing
Legal & Professional Fees
5.3 Management and Administration of Charity
Travel and subsistence
Rent & rates
Stationery
Repairs, maintenance & storage
Equipment
5.2 Support cost of activities in furtherance of the
Charity's objects:
Donations and Gifts(1)		 2025
Designated
Restricted
Total Fund
£
£
£
84,516
-
84,516
17,100
-
17,100
11,483
-
11,483
6,060
-
6,060
119,159
-
119,159
8,548
-
8,548
3,887
-
3,887
1,597
-
1,597
500
-
500
2,042
-
2,042
38,084
-
38,084
54,658
-
54,658
477
-
477
6,400
-
6,400
132
-
132
2,650
-
2,650
109
-
109
9,768
-
9,768		 2024
Total Fund
£
78,500
-
7,624
11,272
97,396
10,542
-
7,764
300
1,115
1,590
21,311
811
7,673
103
595
477
9,659

Page 8 of 8