REGISTERED COMPANY NUMBER: 05127274 (England and Wales)

REGISTERED CHARITY NUMBER: 1105245

Report of the Trustees and

Unaudited Financial Statements

for the Year Ended 31 March 2025

for

Wellspring Arts Trust

Page

Report of the Trustees

1

to

2

Independent Examiner's Report

3

Statement of Financial Activities

4

Statement of Financial Position

5

to

6

Notes to the Financial Statements

7

to

11

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2025. 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

Objectives and aims

The Charity is a public benefit entity. The objective of the charity is the promotion of the Christian faith

throughout the world through the use of music, dance, multimedia and other art forms and through the

holding of concerts, seminars and workshops and other arts events in the United Kingdom and abroad.

Public benefit

The trustees have given due regard to the Charity Commission guidance on public benefit.

Volunteers

The Trustees are indebted to the volunteer who give up their time to the Charity

and assist in its running.

ACHIEVEMENTS AND PERFORMANCE

Charitable activities

The charity continued its work in the year and promoted sales of its recorded media.

A full description of its current activities may be found by visiting www.wellspring.org

FINANCIAL REVIEW

Financial position

The level of reserves are considered adequate whilst the charity is relatively inactive.

Reserves policy

The current level of unrestricted funds is £10,350. The trustees are satisfied that this level is sufficient

to meet any obligations arising through the operation of the Charity at the current time. The trustees

have considered the requirement to maintain free reserves and are satisfied that the Charity has

a need to establish free reserves to absorb the major fluctuations in funding received without curtailing

services to its beneficiaries.

Going concern

There are no material uncertainties about the charity's ability to continue.

FUTURE PLANS

The charity hopes to resume full working soon.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Company number

05127274 (England and Wales)

Registered Charity number

1105245

Registered office

13 Perrymead

Prestwich

Manchester

Greater Manchester

M25 2QJ

Trustees

M R Thornton

P Adams

Independent Examiner

S M Greensill FCA

DJH Wirral & Chester Limited

Military House

24 Castle Street

Chester

Cheshire

CH1 2DS

Approved by order of the board of trustees on 23 December 2025 and signed on its behalf by:

M R Thornton - Trustee

Independent examiner's report to the trustees of Wellspring Arts Trust ('the Company')

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2025.

Responsibilities and basis of report

As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').

Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.

Independent examiner's statement

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

1.	accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or

2.	the accounts do not accord with those records; or

3.	the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act 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; or

4.

the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).

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.

S M Greensill FCA

DJH Wirral & Chester Limited

Military House

24 Castle Street

Chester

Cheshire

CH1 2DS

Date: .............................................

31.3.25

31.3.24

Unrestricted

Total

funds

funds

Notes

£

£

INCOME AND ENDOWMENTS FROM

Other trading activities

2

42

60

Investment income

3

78

82

Total

120

142

EXPENDITURE ON

Raising funds

30

35

Other

924

547

Total

954

582

NET INCOME/(EXPENDITURE)

(834

)

(440

)

RECONCILIATION OF FUNDS

Total funds brought forward

9,910

10,350

TOTAL FUNDS CARRIED FORWARD

9,076

9,910

31.3.25

31.3.24

Unrestricted

Total

funds

funds

Notes

£

£

FIXED ASSETS

Tangible assets

8

127

150

CURRENT ASSETS

Stocks

9

710

740

Cash at bank

8,766

9,501

9,476

10,241

CREDITORS

Amounts falling due within one year

10

(527

)

(481

)

NET CURRENT ASSETS

8,949

9,760

TOTAL ASSETS LESS CURRENT LIABILITIES

9,076

9,910

NET ASSETS

9,076

9,910

FUNDS

11

Unrestricted funds

9,076

9,910

TOTAL FUNDS

9,076

9,910

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for

(a)	ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.

These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.

The financial statements were approved by the Board of Trustees and authorised for issue on 23 December 2025 and were signed on its behalf by:

M R Thornton - Trustee

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements are presented in sterling, which is the functional currency of the company, rounded to the nearest £1.

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.

Plant and machinery

-

15% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

The charity is exempt from corporation 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

31.3.25

31.3.24

£

£

Sales of CDs

42

60

3.	INVESTMENT INCOME

31.3.25

31.3.24

£

£

Deposit account interest

78

82

4.	NET INCOME/(EXPENDITURE)

Net income/(expenditure) is stated after charging/(crediting):

31.3.25

31.3.24

£

£

Depreciation - owned assets

23

27

5.	TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 March 2025 nor for the year ended 31 March 2024.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 March 2025 nor for the year ended 31 March 2024.

6.	STAFF COSTS

The average monthly number of employees during the year was as follows:

31.3.25

31.3.24

Directors

2

-

No employees received emoluments in excess of £60,000.

7.	COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

Unrestricted

funds

£

INCOME AND ENDOWMENTS FROM

Other trading activities

60

Investment income

82

Total

142

EXPENDITURE ON

Raising funds

35

Other

547

Total

582

NET INCOME/(EXPENDITURE)

(440

)

RECONCILIATION OF FUNDS

Total funds brought forward

10,350

TOTAL FUNDS CARRIED FORWARD

9,910

8.	TANGIBLE FIXED ASSETS

Plant and

machinery

£

COST

At 1 April 2024 and 31 March 2025

5,606

DEPRECIATION

At 1 April 2024

5,456

Charge for year

23

At 31 March 2025

5,479

NET BOOK VALUE

At 31 March 2025

127

At 31 March 2024

150

9.

STOCKS

31.3.25

31.3.24

£

£

Stocks

710

740

10.	CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Accrued expenses

527

481

11.	MOVEMENT IN FUNDS

Net

movement

At

At 1.4.24

in funds

31.3.25

£

£

£

Unrestricted funds

General fund

9,910

(834

)

9,076

TOTAL FUNDS

9,910

(834

)

9,076

Net movement in funds, included in the above are as follows:

Incoming

Resources

Movement

resources

expended

in funds

£

£

£

Unrestricted funds

General fund

120

(954

)

(834

)

TOTAL FUNDS

120

(954

)

(834

)

Comparatives for movement in funds

Net

movement

At

At 1.4.23

in funds

31.3.24

£

£

£

Unrestricted funds

General fund

10,350

(440

)

9,910

TOTAL FUNDS

10,350

(440

)

9,910

Comparative net movement in funds, included in the above are as follows:

Incoming

Resources

Movement

resources

expended

in funds

£

£

£

Unrestricted funds

General fund

142

(582

)

(440

)

TOTAL FUNDS

142

(582

)

(440

)

A current year 12 months and prior year 12 months combined position is as follows:

Net

movement

At

At 1.4.23

in funds

31.3.25

£

£

£

Unrestricted funds

General fund

10,350

(1,274

)

9,076

TOTAL FUNDS

10,350

(1,274

)

9,076

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

262

(1,536

)

(1,274

)

TOTAL FUNDS

262

(1,536

)

(1,274

)

12.	RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 March 2025.