Reglstered Charity Number: 1208406 WELLS STOREHOUSE REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 May 2025
WELLS STOREHOUSE REFERENCE AND ADMINISTRATIVE INFORMATION Trustees The Trustees during the period ended 31 May 2025 were as follows: SaTah Mechen Neville Dyke Margaret Mitch811 Sltsan Hubbard Paul Willshire Prlnclpal Address The Old Pumphous Rowdens Road Wells Somerset BA5 ITU Independent Examiner Bells AoUntants 1 Oa High Street Chislehursl Kent. BR7 SAN Charity Number 1208406 Bankers Lloyds Bank PIC PO Box 1000 Andover BX1 1LT
WELLS STOREHOUSE REPORT OF THE TRUSTEES The Trustees present their report with the receipts and payments account of the charity for the year ended 31 May 2025. The Trustees have adopted the provision5 ofAccounting and Reporting by Charities.. Statement of Recommended Practice applicable lo charities preparing their accoLJnls in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 leffeclive 1 January 20191. This reFK>It oullines the work of Wells Storehouse during the year 012025. Alms and Objectives The objects of the charity are for the public benelil., the prevention or relief of poverty or tinancial hardship in Wells and the suriounding aiea. Wells Storehouse provides furniture, essenti21 items, and operates a food bank lo provide food parcels, emergency food supplies and related services lo individuals who have been identified as being in financial need. Background Wells Foodbank and Fumiture Store were compassion mlnislrles of the Wells Vineyard Church. As the ministries grew, enhanced governance was needed and the Church trustees voted in 2023 to sel up an independent charity. Wells Storehouse united the foodbank and furniture store ministries. Wells Storehouse was founded by Neville Dyke, Sarah Mechen. Margaret Mitchell, Sue Hubbard and Paul Wiltshire. All charilable activities are undertaken by the trustees supported by a team of len volunloers. Our Actlvltles Wells Storehouse pack and supply fwd parcels l¢e a week, and re-purpose furniture and hDU5ehold items to clients referred by local agencies and organisations such as Citizens Advice, SoryErsel Council, the focal Connect Community Cenlre. NHS Somerset, local schools and pre-schools etc. The foodbank opeTales from the grouné floor of the Old Pumphouse. The first floor is rented out lo local groups for community use. All rental income is used lor charitable activities of Wells Storehouse. The fi5milure store collects and delivers all goods using our own var¢, and we have the use of a storage container and four Aster garage5. We work closely with several local charitable organisalions and regularly allend Wells Community Network meetings. In parlicularwe are supported by Aster. Wookey Hub, Millslream Workshop, Fosso Lounge, Chadie Bigham5 plus numerous local charities, schools, businesses and individuals. Wells Foodbank receives donated surplus food from Waitrose, Tesco and Aldi via the Fareshare and Neighbourly schemes. We also have an arrangement lo receive surplus food from Charlie Bighams. The public can donate food in our collection baskets kindly hosted by Wailrose, Morrisons and Tesco. MillslTeam Workshop is a local charity that re-purposes bicycles, offered free of charge lo our clients and regular holds bicycle sales to raise funds for us. Wells Foodbank has enjoyed being the nominated local charity of Fosso Lounge. Fosso has held regular fund raising activities including mDnlhW quizzes, a Christmas market stall and staff won Ihe regional fundraising bonus prize for us. Wookey Hub Collects donations from their coffee shop clients which are used lo buy fresh fruit. vegetables and eggs distiibuled lo foodbank clients. Public beneflt The trustees confirm that they have referred to the recommendations contained in the Charity Commission's general guidance on public benefit when teviewing Wells Storehouse's aims and objectives. and in planning activities and selling policies and priorities for the year ahead. All charitable activities are Somersel based, mainly confined lo the city of Wells and the surrounding villages. None of the Iruslees or volunteers Teceive any financial benefit or income of any kind.
WELLS STOREHOUSE REPORT OF THE TRUSTEES Achlevements and performance Itwould be impossible lo thank evoryone who helps us provide our charitable services but we are very grateful for all of our volunteers. our rular and one-off givers and the people who support us in a variety of different ways. Everything we do is a team 8ffort and achievement. We received £10,000 from the Wells Vineyard Christian Fellowship, our former governing body. This was pald from fvnds held by Wells Vineyard Christian Fellowship. These funds are former donations that are reslricled lo the Wells Foodbank. A number of grants were awarded during the year, including £500 from Arnold Clark In-house fund faising activities included holding a quiz night al Wells Town Hall Foodbank clients were given free admission annual tickets to the Bishop's Palace. Wells Foodbank had a stand al the Wells Food Festival in October in the 'food for thought. tent. The charity Hepc Trust held an information day al the Old Pumphouse. The Foodbank offered a short work experience for a Blue School student and a longer placement under the Duke of Edinburgh award scheme. One of the students has now joined our volunteers for the SatL¢rday session. We were able lo offer the services of a money coach to foodbank clients who could work alongside them lo help manage their budgets. Clients were signposted lo olher services such as the Connect Centre and Mendip Credit Union. The rising cost of living increased the number of working individuals seeking help. Over the year we provide an average of fifty food parcels every week to individuals, couples and families. We also provided pel food and toiletries. The furniluie sloiehoLJ5e re-purposes an average of fifteen items, to and from, an average of five households per week, One of our volunteers performs PAT lesling free of charge for our electrical items both used in-house and donated to clients. The foodbank donates surplus food to the Sheplon Mallet and Glastonbury Community frldges. Flnancial Review During the year the Charity generated income tolalling £30.976 and incurred expenditure of £7,550. The charity held funds on hand of £23,426 at 31 May 2025. PRINCIPAL FUNDING SOURCES All operations are funded by donations, (from private individuals, local businesses 2nd govemmentl with Occasional grants, as sought or required, from grant making organisalions such as companies and charitable foundations. Activities are also finanGially supported by fund raising activities. INVESTMENT POLICY The charity does not currently hold sufficient funds to warrant inveslrNenl. However, the charity banks with Lloyds Bank, which has a sound ethical banking policy. RESERVES POLICY The general fund reserves at 31 May 2025 were £23.426. The Charity ensuies it will be able to maintain adequate free reserves to manage any reasonably foreseeable contingency and comply wtth the Charity Commission guidance. STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document The organisalion was established and registered as a charity on 28 May 2024. The charity is established under a Constitution which sets out thè objects and powers of the Irusl.
WELLS STOREHOUSE REPORT OF THE TRUSTEES ¢ont'd Truste8s' Responsibllities in Relation to the Flnanclal Statements Charity law requires the Iruslees to prepare accounts for each financial period which show a true and fair view of the slate of affair5 01 the charity and of its financial acts"vilies for that period. In preparing those accounts, the Iruslees are required to.. select suitable accounting policies and then apply them consistently., make judgements and estimates that are reasonable and piudent., obseNe the methods and principles of the Charities, SORP, Ac¢ounling and Reporling by Charities., 51ale whether applicable accounting standards and stslements of recommended practlce have been followed, subject lo any departure disclosed and explained in the financial stalemenls. and prepare the accounts on the going concern basis unless it is inappropriate lo assume that the charity will continue on that basis, The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy al any lime the financial position of the charity and lo enable them lo ensure that the accounts comply with the statement of Recommended Practi. 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 irrogularilies, The Trustees, report was approved by the Board of Trustees. Sarah Mechen - Chair of Trustees 2610312026
WELLS STOREHOUSE Independent Examiner's Report to the Trustees of Wells Storehouse Respective respon$ibilltles of the trustees and examiner The charity's trustees are responsible for the preparation of the accounts. The Charity's trustees consider that an audit is not required for this ye8r (under section 144{21 of the Charities Act 2011 {the 2011 Act)} and that an independent examination is needed. It is my responsibility to.. examine the accounts (under section 145 of the 2011 Actl- lo follow the procedures laid down in the General Directions given by Ihe Charity Commissioners (under section 14515llb) of the 2011 Acl}'. and to stale whether particular m8tters have come lo my attention. Bas of Independent examlner's report My examination was carried out in accordance with the General Directions given by the Charity Commissioners. An examination includes a review of the accounting records kept by the charity and a ¢omparison of the accounts presented with those records.11 also includes Consideration of any unusual items or dis¢l()sure in the accounts and seeking explanations from you as trustees coneerning any such mallers. The procedures undertaken do not provide all the evidence that would be required in an audit. and onsequently no opinion as to whether the accounts present a 'true and fair view, and the report is limited lo those matters sel out in the statement below. Independent examinerfs stat8rn9nt In connection with my examination. no matter has come lo my attention. {1} which gives me reasonable cause lo believe that in any material respect the requirements keep accounting records in accordance with section s130 of the 2011 Act.. and to prepare accounts which accord with the accounting records and to comply with the accounting requirernenls of the 2011 Act have not been mel., or. 121 to whlch, in my opinion. attention should be drawn in order to 8nab16 a proper understanding of the accounts to be reached. Bells Accounlanls 10a High Street Chislehursl Kent BR7 SAN 2610312026
WELLS STOREHOUSE INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 May 2025 Unrestricted Restrlcted Fund$ Funds Total Funds 2025 Incomlng resource5 Income from Grants and donations Charitable activities Fundraising Donations prior to incorporation Other income 10,861 2,545 5,168 2,402 10,000 10,861 2,545 5,168 2,402 10.000 Total Income 30,976 30,976 Resou Ès expended Costs of generating funds Char¢lable activities 3,083 467 3,083 Total expendlture 7,550 7,550 Net incom¢ 23,426 23,426 Net movement In funds 23,426 23,426 Total funds carried forward 23.426 The income and expenditure account includes all receipts and payments for the perlod. A11 income and expenditure derive from continuing aclivilies.
WELLSSTOREHOUSE BALANCE SHEET ASAT31 MAY2025 Total Funds 2025 Current assets Cash al bank and in hand 23,666 23.666 Credltors Amounts falling due within one year 12401 N¢t ¢urr8nt assets 23.426 Net assets 23.426 Funds Unreslricled funds Total funds 23.426 These finanoial statements were approved by the Board of Trustees on 261312026 and were signed on its behalf by.. Sarah Mechen-chair of Trustees
WELLS STOREHOUSE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MA Y2025 1 Accounting policies Accounting convèntlon The accounts (financial statements) have been prepaTed under the historical cost convention with items recognised al cost or transaction value unless otherwise stsled in the relevant notes to these accounts. The financial statements have been prepared in accordance with the Slalemenl of Recommended Practice". Accounting and Reporb'ng by Charities preparing their accounts in accordance with the Financial Reporting Stsndard applicable in the United Kingdom and Republi¢ of Ireland IFRS 1021 leffeclive 1 January 20191, and the Charities Act 2011. Fund structure and accounting Restricted donations are available for the charity's use only in accordance with the terms under which, and for the purposes which, the funds were donaled lo the charity. Unrestricted funds are available for use at the discretion of the trustees in fvrtherance of the general objectives of the ¢haTIty. Ineoming resources All income is included in the slalement of financial activities when the charity is entitled to the income and the amountcan be quantified with reasonable accuracy. The following specific policies are applied to particular categories of inGome', Voluntary income is received by way of grants, donations and gifts and is included in full in the ststemenl of financial activities when re1Vable. Investment income is included when receivable. Resources expended Expenditure is rècognised on an accrual basis as a liability is incurred. Expenditure includes VAT which cannol be recovered and is reported as part of the expenditure to which it relates. Chari12ble expenditure comprises those costs incurred by the charity in the delivery of its activities and service5 for ils beneficiaries.11 includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary lo support them. Governance costs include those costs associated with meeting the constitutional ancl statutory requirements of the charity and include the independent examination fees and costs linked to the strategic management of the charity. All costs are allocated beeen the expendilure ¢alegories ol the statement of financial activities on a basis designed lo reflect the use ol the resource. Costs relating lo a particular activity are allocated directly, others ale 8PPOrtioned on an appropriate basis e.g. floor area or estlmaled usage, as set out in Note 4. stock Various goods are donale¢J to the Charity and are not included in the accounts as no valije is attached to them. The Charity is in regular receipt of unwanted items. All goods taken in by the Charity are given free gratis and with no conditions 8118ched thereto, therefore no liability exists in receiving such goods or in their disposal.
WELLS STOREHOUSE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MA Y2025 Grants and Donatlons Unre$trict¢d Restricted Funds Funds Total Funds 202S Foodbank18d hocl Foodbank Iregularl Donations furniture store Donation platforms Grants 6,073 2,488 140 1,680 500 6,073 2.488 140 1,660 500 10,861 10,861 Income from Charitable a¢tfvittes Unrestricted Restricted Funds Funds Total Funds 2024 Room hire Furniture store sales Foodbank sales 2,285 140 120 2.285 140 120 2,545 2.545
WELLS STOREHOUSE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY2025 Charltable expendlture Charltable Governance expendlture Co8t8 Total Funds 2024 Cost5 allocated directly to a¢tivltle$ Foodbank food purchases Foodbank other costs Foodbank other purchases Fumiture store vehicle Gosts 2,701 481 750 535 2,701 481 750 535 Support costs allocated to activities Building insurance Building maintenan Donation platform fees Inlernel charges Sl Andrew's Press Technology Telephone Sundry 946 229 622 198 262 492 946 229 622 198 262 492 54 40 40 Governance costs AccoLJntancy and bookkeeping costs 240 240 7,310 240 7,550 Net Income for the year 2025 Independent examinef s fees 240 Taxatlon A5 a regislereé Charity, Wells Storehouse is exempt from 18x on income and gains falling within Part 11 of the Corporation lax Act 2010, lo the exlenl that these are applied lo its charitable objects. No tax charges have arisen in the Charity. CdItOrs. Amounts falling due withln one year 2025 Accrued expenses 240 240 10-