Wells United Charities
Registered Charity Number 236897
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

Wells United Charities
Charity Registration Number:
230897
Correspondence Addreu:
16 Home Piece Rorf Welk.n¢xt.th¢-se4 NR2J IPZ
Administrator:
Mr Robin Swift
The Trustees have pleasur¢ in Presenting their Tn￿. Rerth and the financial statcments for the year etthd 314
December 2023.
The Object of the Chariry is to relieve poverty and the advaTKemenl o(educauon. particularly bu¢ not exclusively by
supporting the elderly to include. relief of sickness. wor health, disability and old age, in the community, by the
provision of..
i. financial assistance
2. facilities, ameniiies, buildings, equipmeni and services
'The community" means th¢ geogrnphical ar¢# within the Aldennan Peel High School catchrnent aTea.
The goveming documents of the charity are the Con￿lD￿tiM ad¢)p*d on la Octotr¢r 2019
The chariry is an unincorporated &8s(Kiation and is admini￿ered by duly ap[O￿ted Tn￿￿eS who for th¢ yw ended J 1°
December 2023 were as follows'.-
Mr5 Cheryl Crawford Ichairl
Mr Dennis Woods.
Mi&% Jean G. Davies
Mrs. Linda M. Pai¢rick
Lynn Pigney (Clerk)
Mr Robin Swift
Mb Susan Wild
Mr Matthew Hardman
MS C¢ridwen Howell
Ap￿]nied 31° Au8U$t 2023
The Tru81ees meet during the year to review and manage the affairs of the Tnjst. Trustees are elected by resolution of all
Members present ai an Annual General Meeiin8 by way of ¢onfideniial vote. The Trusiees may co-opt a TTUSlee to fill a
vacancy arisin8 during the course of the year beThveert Suc¢e&siveAt￿ll￿ General Meeiin8S.
Th¢ TnL8iees are required to prepare for each f￿anCial year fU￿la1 s￿rtMents which give a tnje ond fair view of the
siale of the funds of the Trust ar￿ o( the resulL% of the year. In preparing the fJwKiai ststemenLs the Trustee8 #re
required to'.-
S¢lect suitable accounting Frf)licies and wly them COTLSiStently;
Make judgements and estinui&8 that reag)nable 8t￿ pnMknL
Stste whether applicable x¢c￿nting stsndarth have folh)waL wbject to any rnaterial dep&￿￿ disclosed
and explained in the fuwiciai statemenw and
Prepan the fuw*iai staiements on the going concern basis Unl￿ it is inappropriate to presume that this basis
applic5.
The Tru5tee5 are reswnsible for ensur1￿ proper ￿CoUn￿n8 ttrords are kq)I w￿.¢￿ di%toge, with reasonable accuracy ai
any tinr, the fmancial position oFthe fiLn& of theTrusL
Page I

Review ofthe year
Trustees. at Wells UniL¢d Charities ai ihe beginnmg of 2023. were all still providing services to the charity at the end
of the year. Th¢ team was joined mid-way through the year by Ceri Howell, a rnired Primary Head T¢a¢her and
Primary Adviser. Ceri joined in th¢ n¢w rol¢ of Grdnts cl￿ordIna￿r.
The value of Ihe Chariry's funds managed by Waverton Invesunent Management lllcreased by 8.9 /0 in 2023 as
equity and fi.xed income market5 look heart froffl the sense thai inflation and inieresi ra￿S had finally lopped oui.
The invesimeni generated a net incorne of around 2.8Y•.
T￿￿te¢S moved 700/0 of its cash reserves acro&s to the COIF CknTitses l)etKJsit Fund manag¢d by CCLA Invesunent
management to lake advantage of wholesal¢ m8Tket yields and the broad spread of high quality bank investments
offered by a AAA ra￿d rnoncy fund.
Ai the AGM it was agreed thai Tn￿l￿S will explore th¢ id¢4 of adding a third Ilxal propety to th¢ Charity'5
invesimeni portfolio.
12 eduLation grants {up from 4 in 202?). 22 fuel grants and 10 other adVan￿S of funds to local individua15 aDd
ommuniiy groups Tesul¢ed in an active grant making year in 2023. These included a granr lo Coastal Health and
'ellbeing ai the Old Coiiage Hospiial to help the funding of a new role supporting communiiy aciivities, a grant to
the ￿'ellS Youth Group to suppon Makaion training and a grani io the Commurtity Lunch Group.
Donaiion5 were received from generous individuals and Gharities and 10 fund-raising initiatives took place durin8
the year.
Reserves pollcy
In 2018,'19, funds toialling £15J.863. trdnsf¢rred from Wells & Disrrici League of Friends lo Wells Uniied Charities,
are resiricied. These funds are to be used solely for grdnis 10 appeals thai fall within the Wells & Distyici League of
Friends objects. i.e. ill health, $i¢kness, disabiliiy and old age.
All oiher reserves of the charity are unresiricied and are avai14bl¢ for di$tribution &$ th¢ Trustees see fL¢.
Investmen( pollcy
The Trus*es' policy on inve5tsnent is a pnjdeni appyoach whi¢h ¢ombin¢5:
n￿L￿tenance an(L if possible, enhancemeni of the vatue of inves(ed fimds:
adequate fmancial reNrn.' and
minimising risk.
The Tnjsiees are satisfied with the tran5xiions of the chariry and its fmancial position as at 31 DeCeM￿r 2023 &s thown
in the a¢coME￿)Y￿￿ aceounts.
S￿ned
Chainnan
Signed
Trustee
Dale..
Page 2

VELLS LNITED CH.4RITIES
Regfftstered Charity Number 236897
ST ATENIENT OF FINANCI.4L.4CTtVITES for the l'ear ended 3151 Decernber 202J
L'nrestTjCted Restricted
Fllnds
Fund$
Z023
2023
Tot#1
2023
Total
2022
No￿9
Ineomftng Re$ollrce5
Dividends r¢e¢ived
15.987
15.987
7,972
Rent Received
13.919
13.919
12,591
Bank Interest Received
1,857
1,857
80
Legacies Rcc¢ived
6,534
Subscriptions Received
1.295
1.295
2.930
Donaiions Received
2.935
2.935
10.385
Fund Raislrtg Evcnls
3,533
3,533
3,094
Sundry Income
898
898
130
40.4*4
40.424
Resources Expended
General adminlstrailon expenses
Posi, printin8, Stationery and website e05ts
778
778
115
Donations given
12.247
11,717
23,964
15,183
Clerk Exp¢n5e5
Property Costs
2,841
2.841
2.169
Fund Raisin8 Expen5¢5
932
932
815
ProfeJslon41 expenses
Accountancy
576.1
Insurance Prernium
345
345
335,
Bank Charges
Legal Fees
35
35
17.783
11,711
29.500
1 1923ll
Net Incoming resources
22,fr11
10.924
Page 3

WELLS DNITED CHARITIES
Regisiered Charity Llllmber 230897
BALèLNCE SHEET as at 31st Deeember 2023
2023
2022
Notes
ASSETS
Investments
restricied
- unrestricied
56,880
460.210
50,462
1421,587
Land let to HolkhaTn Esthie
4 & 4a Nonhfield Waye
Cash at bank
resiricied
- unrestricted
105.000
251.391
61.J18
60.064
1.000.863
251J91
179,035
1 38.049
' 945,524 ,
LIABILITIES
CTediior8
Funds Commiited in 23 not paid unlil 24
590
3.450
590
4,075
NET FUYI DS
996.823
940,859
FIYANCED BY
Aeeumul4ted Fund:
Total
Total
nre51ricted Funds
Accumulal¢d income broughi forward
Increase.Ildecreasel in ¢apiial asse
surply￿{Der1cICI for year
805,495
45,040
22.641
873,176
830,274
(54,763)
29,984
805,495
Restricted Funds
Tran.%fer from League of Frien(L8
SurplullD¢fi¢itl for year
135.364
140,864
(5,5(Y))
123,647
135,364
Accumulated Income Fund
996,823
The financial statements wereapprovedbythetrLLSt¢¢s0n......................................
on their behalf by,-
and signed
Page 4

WELLS U)1 ITED CHAIUTIES
Registered Charity Number 236897
NOTE OIN FI￿L￿cIAL STATEIIEYTS 31 DECENIBER 2023
Accounting policies.
The fuwicial sts*men(s are prepared in &corda￿t with applicable accowiiing srandardg and on the basis that
the ctwi.ty can continue to Ot¢rdle ￿ a going concern.
The Charity has prepared its fuwicial ststments in accordance wtth the requirements of the Chariiies Act 2011
and Nith the Statement of Recomrnended Prdctice: Accounting and Reporttng by Charities Preparing their
accounts in acCorda￿t with the Financial Rewrting Standard applicable in the UK and Republic of Ireland
(FRS 102) issu¢d on 16 July 2014. The re￿[*d rUW￿la] positson and fuwKial pcrfomiance for the previous
peTiod are noi affected by the ¢ransiiion ￿ FRS 102.
Investment gains 4t￿ h)ss¢s include any gain or loss on the sale of inv¢sthiertL% and any gain or loss resulting
frorn revaluing irJve5unent$ 10 value ai the end of the year.
iv
tnvutments quoted on a recogni%d s￿ck cYchan8e are valued at market valu¢ at the y¢8r ¢nd.
Assets
The tnjsiees invested £502.094 ift￿ a Wav¢rton$ itivestm¢nt portfolio on 2 IA June 2021, £56,329 bein8
from the re5tri¢ied funds. On 31° D￿ember 2023 this vJlu¢d ai £517.089.36.
The ITUStees had the land infornially regis￿led on I ia Augu￿ 2017 showing 10.56 ￿r¢s, and on 28th
November 2022 Ihe land valued at £105.0(K¥.
The trusiees purch&8ed & Wells-rtex¢-the-SeJ propety from Flagship Housing Association on I l March
2021 for 4 value of £250,0(Xl. pl￿9 legal fees of £1,391.
After the 2022 fmancial 8iaiements wer¢ finalised, the splii be￿ttA restricted and unreslricied fijnds in cash
&t bank was recla￿trIed. Th¢ revised splii in resrrti of thi$ is now refle¢ied in the 2023 financial $tai¢m¢nts.
Ac¢urnulated Income Fund
2023
2022
Unrestricted
Ac¢umulated Income brought forW￿d
805.495
830274
In¢reasel{Decrease) in capital
ssels
45,040
(54,763)
Sury]u￿[Der]cLtI for year
26.091
29,984
Accumulated Income £arried forwArd
876 626
Restrleted Funds
Accumulated in¢ome brought forward
135J64
140.864
surplu￿{derLC1l} for the year
(11.7171
(5,S(M))
Restrieted funds earried forward
Page 5

Independent examiller's report on the accollnt5
Report to the trusteesl members of Ivells Ulllted Ch*rlties ac¢Dllnt% for the perlod ended Jl" December
2023
Respective responsibllltles of tru5tee5 *nd examiner
The charity's trusiees are responsible for the preparaiion of the accounrs. The chariry's
S￿e$ consider Ihai an audit is not required for this year {under section 144121 of the
Charities Act 2011 (th¢ 2011 Act). that ￿ i1￿￿)¢￿dent ex8mtnation is rteeded.
1¢ is our ￿spOnsIbl11￿ to..
Examine the accounts {under stttion 145 of the 2011 Act).
To follow the procedures laid down in the General Direciions given by the Charity
Commissioners (under seciion 14515llb) of the 2011 Aci. and
To Slate whether panicular maller5 have COTne to our attention.
Ba$1$ of Ind¢penden¢ exgminer's statement
My examination was carried out in aeeordance with General Directions 8tvert by ihe Chariry
Commissiort¢rs. An examinaiion includes a review of the accouniing ￿ordS kept by th¢
¢harity and a ¢omparibon of the accounts preSen￿d with those records. li also includes
conbiderdlion of any unusual iiems or dÉsclosures in the accounts. and seeking explanations
from Ihe ¢nJsiees concerning arty such matters. Th¢ procedures undertaken do noi provide
all the evidence that would be required in an audii, and consequently, we do not express an
audit opinion on the view given by the ac¢ounls.
Independ¢ni examlner'j statement
In the course oFmy examinaiion. no mailer has ¢ome to my aiiention
. which gives us rea$0￿ble ￿Yse to believe that in, any material respect, th¢ tnESt¢¢8 have
noi m¢1 the requiTements 10 ensure thai:
proper accounting rteor&4 ar¢ kept (in a¢wrdan¢e with ￿ti[￿n 41 of the Aci}: artd
accounts are prepared which agree with the accouniin8 records and comply with the
accouniin8 requiremcnis of the Aet: or
2. to which. in our opinion, atteniion should be drawn in order ro enable a proper
understanding of the accounts 10 be reached.
Mapus-smiih & Lemmon LLP
Chartered Accountants
48 King Street
King's Lynn
Norfolk
PE30 1 HE
Page 6