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Review of the year
Trustees, at Wells United Charities at the beginning of 2024. were all still prosryding services to the charity at the end
of the year apart from Denni5 Wo(xls who, after three yeaTS of diligent service. stepped down as Metnbership
Secreiary. In his place the team was joined mid-way through the yw by Imelda Crackn¢ll, a retired HR Manager
from ihe world of f]nan¢e. Imelda is well known locally, particularly for her involven)ent at both Wells Maltings and
the We115 Sailing Club. We welcome Imelda and thank DeDOiS for ail his support.
The value of th¢ Charity's funds m&naged by Wavcrton Invesuneni Management increased by 7.7/0 in 2024 as
equity and fixed income markets took heart from the sense thai inflation and In￿reSt rates decreased from the heady
levels of 2023. The investment gen¢roi¢d a net income reDJrn of aN)und 2.8 /.
The COIF Charities Deposit Fund managed by CCLA Investment mynagement retumed a yield of over 5Vo on the
Charity's Invest￿ cash. Thi.8 fund is used to take advanthg¢ of wholesale market yields and the broad spread of high
quality bank investments offered by a AAA ra*d rnon¢y fvnd.
15 ¢du¢ation grants lup from 12 in 2023). 22 fuel grants and 10 other advances of fuTJds to local individualts and
community groups resulted in an active grant making year in 2024. These included & grant to Coabtal Healili and
Wellbeing at ihe Old Cotiage H(k4pilal io help the fijnding of a key role 5UPPOrting community activities. a grant to
the Wells Youth Group to support Makaton training. a grani to the Community Lunch Group. lo the Nelson Club for
hire co$18 and io Liiile Gilli¢s to support core license and training costs.
Donations were rrfeived from generous individuals OTKI Chariti￿ and 10 fundraising initiatives took place during the
year.
R¢¥¢rves poll¢y
In 2018119, funds ioialling £153.863. tTansfeTred from Wells & Dibirici League of Friends to Wells United Charitiey.
are resiricted. These funds are to be used solely for granis 10 appeals thai fall within the Wells & District League of
Friends objects. i.e. ill health, sickness, disabiliiy and old age.
All other reserves of the charity are unresthcied and are available for distribution as the TTUStees see fit.
Investment polky
The Trusttt8' policy on investsneni 1$ ¥ prudent a￿o￿th which ¢(￿b]nes.
mainknance 8n(L if possibl< enha￿1 of the value of invested fillth;
adequat¢ financial rewrn; and
minimisin&? risk.
The Trustee5 are satisfied with the tramxtions of th¢ charity ¥￿1 its fuwicial pw)sition &$ ai 31 December 2024 as shoMo)
in the accompanying ￿cOUnt&
Signed
Chairn7on
Signed
Trustee
Date..
Page 2

WELLS UI%ITED CIIARITIES
Reglstered Charity Number 236897
STATEMENT OF FINANCIAL ACTIVITES for the Year ended Jl$t December 2024
Unrestrlcttd Restrltted
Fund$
Fundj
2024
21124
Total
2024
Totat
2023
IJi¢omlng Resour
Dividends reccived
14.559
14,559
15,98
Rent Received
14185
14.885
13,91
B￿k Interest R¢¢eived
4,8
4,890
1.85
Legaeies Re¢¢ived
Subseriptions Received
1.345
1.345
1,29
Do￿110￿5 Receiv
4.986
4,986
,2,93
Fund Raisin8 Events
5.878
5.878
3,53J
Surtdry Inconx
898
Resou￿11 Expended
G¢ner*l #dmlnlitrAtlon ¢xp¢n$es
Posi priniin& sthtionery and websitc C051s
245
245
778
Donations Biven
14,915
15,777
30,692
23,964
cle￿ Expenses
Propenycosts
4.615
4,615
,2,841
Fund Raising Expcns¢5
869
869
932
Profes$lon#l txpens
Accountsncy
630
630
600
Insurance Pr¢mium
355
355
345
Bank char
15
13
Legal Fees
35
35
35
21.680
15,777
37,457
29,500
Net lllcomin% resourtt$
24.863
P¥ge 3

WELLS UNITED CHARITIES
ReB15tered ChArlty Iyumber 236897
BALANCE SIIEET •$ it 31st Deeembtr 2024
2024
20
Not&s
ASSETS
JnvesthMIs
- restric*d
- unresiricied
61 J(M)
495.973
56,
60J
tAnd let lo Holkham Esthte
4 & 4a Northfleld Wwy¢
C&8h ai batth
- reslri¢¢¢d
- tstwe8tricled
105.(
251J91
51,541
105.
51.3
67,3
1.052.382
I,IABILITIES
Creditor5
Funds Committed in 24 not paid until 25
590
5.700
NET FUNDS
1046.092
- 996.823
FINANCED BY
Accumul•tvd Fund:
Total
Tolai
Uttrestrleted bundi
Accumulated income broughi fonvard
lrterease/(de¢rease) in capiihl Hsscls
Surplusl(Deficii) for year
873,176
40,183
24,B63
938,222
1805,495
45,040
fi 22641
873,170
Rfstrl¢¢¢d Funds
Tranyfer from League of Friends
SutplU￿(Defl¢1l1 for >tar
123,647
(15,777)
135J64
107,870
Ace*mulat¢d Income Fund
1046 092
The financial sialtments were approved by the trusw on.........................................aDd signed
on th¢ir behilf by,-
c￿1rMI
TruSt￿￿reasurer
Page 4

WELLS UNITED CHARrriLs
Registered Charity Number 236897
NOTE ON FINANCIAL STATEMENTS 31 DECEMBER 2024
Arxounting policies
The ruw￿la1 5tatenKnts are p￿ar￿a in &￿Ida￿t with 41p]ithle xcountin8 Standards and on the ba#18 tl?al
the charity ¢an contin￿ lo 0￿￿te as ¥ goiD8¢IXW
The Chariiy h&8 Prepared its financial ststcments in accor￿ with the requwements of tli¢ ChuTi¢ies Aci 2011
aTKI with the Stsi¢menl of Rttommendcd Prnthice.. Accouniing orKi Rcportin8 by Chariiies preparing th¢ir
accounts in accord&￿e with the Fitianci&l RewtiTr8 Stattdard 4Jpiicable in the UK and Republic of trcland
(FRS 1021 t&w¢d on 16 July 2014. The ryned fmancial ￿lt￿)n aTMI fmancial perforn￿￿ for the PT¢ViOU
peri￿ are afftt*d by the tszn5ition to FRS 102.
Investment Bains aThJ iosse4 i￿h￿k any 8ain on the Mle of invests)Mts and any Bain ly Tesulii
from revaluing irtvethments to mkrket valu¢ at the of the year.
iv)
Investh*its quoted a TrcoBThsed stockexchm8e￿C valud at markd value 8t the yearend.
The invested £502,1)94 into a Wavenons invulmenl portfolio on 214 June 2021, £56,329 bein8
from th¢ reslri¢ted funds. On 31° Decemitr 2024 thi$ valued ai £557.272.72.
The hpd th¢ land infornully ￿gI￿£￿d (m I l August 2017 Showing 10.56 Acres. and 281h
November 2022 ihe land was valll￿ ai £105,(KKI.
The Irusl¢¢s pll￿ha$ed a wel￿next-1he•sea property from Nogship Housing Asswialion on I ith March
2021 for a value of £250.IXQ, plus1¢801 Eeu of £lJ91.
After the 2022 finhncial ￿ttleMents were finalixd, Ihe split bctwcen reiiricied and unre4¢ricied fund% in cash
at bank was re¢lassificd. Thc reviscd split in respect of ihi8 is now rcflccied in the 2024 financial 8talemenls.
Aeeumtsl8ied In¢om¢ Fund
2024
Ae¢umulAted In¢ome brought forward
873.176
805,495
Increasel{Decre&q¢l in ¢4pitsl
40.183
45,040
surplu￿{DerIGIl) foryear
24,863
AeeumulAted Income carrled fonY#rd
Restrlcted F nds
A¢cumuial¢d income brought forward
123.647
135.304
SurplU￿(der1¢ItI for the year
(15.777)
(11,71,
Resiricted fuDd5 t&rried forward
Page 5

Independent exomlner's report the aceonDt
Rtport to Ihe tru5teesl ￿ern￿r5 of We115 UDlted Cbarltles OTr aceoullts lor the perlod ended 31° December
2024
Re5poetlv¢ responsibilities oftrnstees examitter
The ctthrily's trusle¢s resw)nsible for the prepara(ion of the accounts. Th¢ ctw&ty'S
tryst¢es consider that art audil 15 Dot required lor this y￿r (under section 14412} of die
Charities Act 2011 {the 2011 A¢il, and an indewdent examination is n¢eded.
It 18 oufTeswnsibilily 10:
Examin¢ the accounts {under section 145 of the 2011 Act),
To folloiv ¢h¢ procaures laid down in the Get)ernl Dire¢tionq given by the Charity
CommiuioneT3 (under section 145{S)Ib) ofthe 2011 Act, and
To state whetherpthicular mlltters have come to our attention.
Baslg of Independent eximln¢r'$ $t4t¢ment
My cxamination was carried (XLI in &ceordan¢e with General Dire¢lions givert by ihe Charity
Coniniissioners. An exwjiinoiion includes a review ofthe accouniing r￿ordS k¢pl by Ili¢
charity and a comparison tsf the accounis presenied widi those records. It #I￿ iiiLlude%
¢on$iderniitsn of any unusual iiem$ or disclosurcs in ihe Accounts, wid sceking explanaliotk
froni tljc InJstee8 concerning any quch matter5. The procedure5 undertaken noi provide
all thc evidertee thol would ￿ requi￿d in an audiu and ¢onwu¢nily, we do Dol ¢xprth an
audit opinion on th¢ view giyen by the eccounrs.
Iiidppondenl examlner'1 8tatemeJ)t
In the course ofmy exominaiion. no matter eome 10 my all￿tiott.
l. which giv￿ uy ￿e￿Onab￿ cawe ￿ believe thai I￿ any material respecl, the tNste¢s hAve
nol mei the requiremaits thai..
proper ac¢ouniitig recor¢Lq art kept (in a¢wrdon¢¢ with s￿110n 41 of the Acil. ￿ld
iccounts are prepared whieh &grtt wilh the aCc(￿mIll8 reeords and comply with the
accotsnting requ1￿MenTS of the Ac( or
2. 10 whi¢lb in opinion, atlenlion should be drawn in order to enable a proper
undcT5taTLding of the 8¢¢ounts to be ffea¢1￿.
Mapus-smiih & Lemmon LLP
Chanered Accountant$
48 King Stree¢
King's Lynn
NoTfolk
PE30 IHE
Page 6