REGISTERED CHARITY NUMBER: 800411
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2022
FOR
THE WELL CHURCH, WELLINGTON
Anthony Doyle Old Town Hall Fore Street Wellington Somerset TA21 8LS
THE WELL CHURCH, WELLINGTON
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2022
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 2 |
| Independent Examiner's Report | 3 | ||
| Statement of Financial Activities | 4 | ||
| Balance Sheet | 5 | ||
| Notes to the Financial Statements | 6 | to | 9 |
| Detailed Statement of Financial Activities | 10 |
THE WELL CHURCH, WELLINGTON
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST DECEMBER 2022
The trustees present their report with the financial statements of the charity for the year ended 31st December 2022. The trustees have adopted the provisions of 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) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES
Review of Activities
The most significant change during the year under review has been the decision to change the name of the church from Rockwell Green Christian Fellowship to The Well Church, Wellington. This was approved at a meeting of the Trustees and Elders on 12 April 2022, and application to The Charity Commission was made, who approved the change. Subsequently, the name of the bank account was changed and a legal document drawn up by Battens, solicitors, to go with our existing Trust Deed. Other than the name change, no other change has been made to the original Trust Deed
In February 2022, Stewardship Services, who held the deposit representing our contingency reserve, ceased operating deposit accounts and the outstanding amount held of £16,282.79 was transferred to our general account. The trustees continue to keep this reserve amount (approx. £16,000) within the Reserve Policy statement. During 2023 a deposit account will be opened, which will pay interest, to identify and ring-fence the agreed reserve.
During the year the income of the church, through donations, was comparable with the previous year, but income from hire of the building increased.
General Fund bank balance decreased by approximately £7,000. This was caused mainly by the replacement of our heating system to a more modern and efficient unit. The total cost was marginally over £10,000. Economies were made where possible, less being spent on furniture and equipment, and, in particular, a significant saving was made on our Building insurance.
A short-term loan was made to a member of the church for essential carpeting after a charity failed to cover the entire cost. We continue to support Barnabas Fellowship of Churches, particularly in their work in Africa, and, alongside other churches, finance two part-time chaplains in their work in Courtfields School, Wellington.
Our building is used by a number of local organizations, notably, the Police, as a base for local PCSA's, Slimming World, Reminiscence Learning, which aids elderly people, and, other churches in the area who do not have their own building.
FINANCIAL REVIEW
Reserves policy
The trustees have established a reserves policy which is covered by the balance in the trust's bank account subject to a minimum of £15,000.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number
800411
Principal address
The Well Christian Centre Rockwell Green Wellington Somerset TA21 9BS
Trustees
R W A Rhodes P Gibson D Thomas A Wilding
Page 1
THE WELL CHURCH, WELLINGTON
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST DECEMBER 2022
REFERENCE AND ADMINISTRATIVE DETAILS Independent Examiner
Anthony Doyle Old Town Hall Fore Street Wellington Somerset TA21 8LS
Approved by order of the board of trustees on 4th August 2023 and signed on its behalf by:
R W A Rhodes - Trustee
Page 2
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE WELL CHURCH, WELLINGTON
Independent examiner's report to the trustees of The Well Church, Wellington
I report to the charity trustees on my examination of the accounts of The Well Church, Wellington (the Trust) for the year ended 31st December 2022.
Responsibilities and basis of report
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act.
Independent examiner's statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or
-
the accounts do not accord with those records; or
-
the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts 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 accounts to be reached.
Anthony Doyle
Anthony Doyle Old Town Hall Fore Street Wellington Somerset TA21 8LS
4th August 2023
Page 3
THE WELL CHURCH, WELLINGTON
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST DECEMBER 2022
| 31/12/22 | 31/12/21 | ||
|---|---|---|---|
| Unrestricted | Total | ||
| fund | funds | ||
| Notes | £ | £ | |
| INCOME AND ENDOWMENTS FROM | |||
| Donations and legacies | 36,352 | 35,284 | |
| Other trading activities | 2 | 6,693 | 1,956 |
| Total | 43,045 | 37,240 | |
| EXPENDITURE ON | |||
| Raising funds | 22,146 | 15,083 | |
| Charitable activities | |||
| Sundry | 312 | 366 | |
| Other | 29,424 | 25,639 | |
| Total | 51,882 | 41,088 | |
| NET INCOME/(EXPENDITURE) | (8,837) | (3,848) | |
| RECONCILIATION OF FUNDS | |||
| Total funds brought forward | 413,802 | 417,650 | |
| TOTAL FUNDS CARRIED FORWARD | 404,965 | 413,802 |
The notes form part of these financial statements
Page 4
THE WELL CHURCH, WELLINGTON
BALANCE SHEET 31ST DECEMBER 2022
| 31/12/22 | 31/12/21 | ||
|---|---|---|---|
| Unrestricted | Total | ||
| fund | funds | ||
| Notes | £ | £ | |
| FIXED ASSETS | |||
| Tangible assets | 5 | 365,146 | 365,458 |
| CURRENT ASSETS | |||
| Debtors | 6 | 4,268 | 5,525 |
| Cash at bank | 36,459 | 43,698 | |
| 40,727 | 49,223 | ||
| CREDITORS | |||
| Amounts falling due within one year | 7 | (908) | (879) |
| NET CURRENT ASSETS | 39,819 | 48,344 | |
| TOTAL ASSETS LESS CURRENT | LIABILITIES | 404,965 | 413,802 |
| NET ASSETS | 404,965 | 413,802 | |
| FUNDS | 8 | ||
| Unrestricted funds | 404,965 | 413,802 | |
| TOTAL FUNDS | 404,965 | 413,802 |
The financial statements were approved by the Board of Trustees and authorised for issue on 4th August 2023 and were signed on its behalf by:
R W A Rhodes - Trustee
The notes form part of these financial statements
Page 5
THE WELL CHURCH, WELLINGTON
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2022
1. ACCOUNTING POLICIES
BASIS OF PREPARING THE FINANCIAL STATEMENTS
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.
INCOME
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
EXPENDITURE
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, 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 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.
TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
TAXATION
The charity is exempt from tax on its charitable activities.
FUND ACCOUNTING
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
2. OTHER TRADING ACTIVITIES
| OTHER TRADING ACTIVITIES | ||
|---|---|---|
| 31/12/22 | 31/12/21 | |
| £ | £ | |
| Use of Hall | 6,693 | 1,956 |
3. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31st December 2022 nor for the year ended 31st December 2021.
TRUSTEES' EXPENSES
There were no trustees' expenses paid for the year ended 31st December 2022 nor for the year ended 31st December 2021.
Page 6
continued...
THE WELL CHURCH, WELLINGTON
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST DECEMBER 2022
| 4. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES | |||
|---|---|---|---|---|---|
| Unrestricted | |||||
| fund | |||||
| £ | |||||
| INCOME AND ENDOWMENTS FROM | |||||
| Donations and legacies | 35,284 | ||||
| Other trading activities | 1,956 | ||||
| Total | 37,240 | ||||
| EXPENDITURE ON | |||||
| Raising funds | 15,083 | ||||
| Charitable activities | |||||
| Sundry | 366 | ||||
| Other | 25,639 | ||||
| Total | 41,088 | ||||
| NET INCOME/(EXPENDITURE) | (3,848) | ||||
| RECONCILIATION OF FUNDS | |||||
| Total funds brought forward | 417,650 | ||||
| TOTAL FUNDS CARRIED FORWARD | 413,802 | ||||
| 5. | TANGIBLE FIXED ASSETS | ||||
| Freehold | Furniture | ||||
| property | & equipment | Totals | |||
| £ | £ | £ | |||
| COST | |||||
| At 1st January 2022 and 31st December 2022 | 363,381 | 25,525 | 388,906 | ||
| DEPRECIATION | |||||
| At 1st January 2022 | - | 23,448 | 23,448 | ||
| Charge for year | - | 312 | 312 | ||
| At 31st December 2022 | - | 23,760 | 23,760 | ||
| NET BOOK VALUE | |||||
| At 31st December 2022 | 363,381 | 1,765 | 365,146 | ||
| At 31st December 2021 | 363,381 | 2,077 | 365,458 |
continued...
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THE WELL CHURCH, WELLINGTON
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST DECEMBER 2022
| 6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Other debtors Prepayments and accrued income 7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Other creditors 8. MOVEMENT IN FUNDS Unrestricted funds General fund TOTAL FUNDS Net movement in funds, included in the above are as follows: Unrestricted funds General fund TOTAL FUNDS Comparatives for movement in funds Unrestricted funds General fund TOTAL FUNDS |
31/12/22 31/12/21 £ £ 1,393 - 2,875 5,525 4,268 5,525 31/12/22 31/12/21 £ £ 908 879 Net movement At At 1/1/22 in funds 31/12/22 £ £ £ 413,802 (8,837) 404,965 413,802 (8,837) 404,965 Incoming Resources Movement resources expended in funds £ £ £ 43,045 (51,882) (8,837) 43,045 (51,882) (8,837) Net movement At At 1/1/21 in funds 31/12/21 £ £ £ 417,650 (3,848) 413,802 417,650 (3,848) 413,802 |
|---|---|
continued...
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THE WELL CHURCH, WELLINGTON
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST DECEMBER 2022
8. MOVEMENT IN FUNDS - continued
Comparative net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 37,240 | (41,088) | (3,848) |
| TOTAL FUNDS | 37,240 | (41,088) | (3,848) |
| A current year 12 months and prior year 12 months combined position is as follows: | |||
| Net | |||
| movement | At | ||
| At 1/1/21 | in funds | 31/12/22 | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 417,650 | (12,685) | 404,965 |
| TOTAL FUNDS | 417,650 | (12,685) | 404,965 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 80,285 | (92,970) | (12,685) |
| TOTAL FUNDS | 80,285 | (92,970) | (12,685) |
9. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31st December 2022.
Page 9
THE WELL CHURCH, WELLINGTON
| DETAILED STATEMENT OF FINANCIAL ACTIVITIES | ||
|---|---|---|
| FOR THE YEAR ENDED 31ST DECEMBER 2022 | ||
| 31/12/22 | 31/12/21 | |
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Donations and legacies | ||
| Gifts | 31,727 | 31,011 |
| Gift aid | 4,625 | 4,273 |
| 36,352 | 35,284 | |
| Other trading activities | ||
| Use of Hall | 6,693 | 1,956 |
| Total incoming resources | 43,045 | 37,240 |
| EXPENDITURE | ||
| Raising donations and legacies | ||
| Insurance | 4,775 | 4,909 |
| Light and heat | 3,588 | 3,315 |
| Telephone | 362 | 369 |
| Property & equipment repairs | 11,436 | 4,386 |
| Cleaning & garden | 160 | - |
| Independent examiner fees | 635 | 421 |
| Licences & subscriptions | 920 | 744 |
| Sundry admin expenses | 270 | 939 |
| 22,146 | 15,083 | |
| Charitable activities | ||
| Depn of furniture & equipment | 312 | 366 |
| Other | ||
| Barnabas tithe | 3,600 | 5,400 |
| Gifts & donations | 4,897 | 3,275 |
| Visiting speakers | 600 | - |
| Pastor's salary & pension | 15,973 | 15,749 |
| Other wages & salaries | 1,963 | 801 |
| Literature & training | 453 | - |
| Catering expenses | 1,502 | 414 |
| Travel expenses | 436 | - |
| 29,424 | 25,639 | |
| Total resources expended | 51,882 | 41,088 |
| Net expenditure | (8,837) | (3,848) |
This page does not form part of the statutory financial statements
Page 10