Life-Ways Annual Report and Financial Statements
**REGISTERED COMPANY NUMBER: 03023526 (England and Wales) REGISTERED CHARITY NUMBER: 1050697**
**Report of the Trustees including Directors’ report and Unaudited Financial Statements for the Year Ended 31 March 2025 for Life-Ways**
1
Life-Ways, Reg. Co, No: 03023526
Life-Ways Annual Report and Financial Statements
## **Contents of the Report and Financial Statements for the year ended 31 March 2025**
|Report of the Trustees including Directors’ report|3|
|---|---|
|Objectives and Activities|3|
|Operations and Performance review|4|
|Structure and governance|8|
|Reference and administrative details|8|
|Statement of Trustees’ Responsibilities|9|
|Independent Examiner's Report|10|
|Statement of Financial Activities|11|
|Balance Sheet|12|
|Notes to the Financial Statements|13|
2
Life-Ways, Reg. Co, No: 03023526
Life-Ways Annual Report and Financial Statements
## **Report of the Trustees including Directors’ report for the year ended 31 March 2025**
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**
Life-Ways is established:
1. To promote the relief of sickness and advance the education of the public by the provision of facilities and services to meet the emotional and medical needs of all individuals who require them and to improve the quality of life for such individuals by means of holistic care, services and medicines.
2. The advancement of religion.
3. To make grants to other charitable centres and organisations established for all or any of the objects, as the Trustees may in their absolute discretion determine.
4. A Council of Members/Trustees manages the charity with the assistance of a full-time executive, part-time reception and administration staff and voluntary help.
The charity operates from its centre at the above address and activities include:
1. Providing access to a broad spectrum of counselling and complementary therapies in keeping with its objectives.
2. Arranging and supporting community and awareness events and activities.
3. Supporting locally based charities and not for profit organisations that share Life-Ways’ objectives.
3
Life-Ways, Reg. Co, No: 03023526
Life-Ways Annual Report and Financial Statements
## **OPERATIONS AND PERFORMANCE REVIEW**
## **2024/25 Highlights**
Life-Ways Trustees have continued to prioritise working with children and young people, often in partnership with other charities, to meet the growth in demand for services to help manage anxiety, depression and difficulty attending school:
- Supporting the Autistic Girls Network (AGN) in their invaluable work, Lifeways provides both a venue and financial assistance for their activities.
- Helping the Lifespace Trust, a charity focusing on the wellbeing of young people, by providing training and financial assistance in the important area of counsellor supervision.
- Life-Ways’ project supporting parents of children who are not attending school.
In addition to our youth projects, we continue to run a Menopause Support Group, a wildlife group that is working on local projects, a gardening group for people recovering from issues with their mental health and a free counsellors’ networking group for continuing professional development.
We are proud that our Community Garden was overall winner in the Community Gardens category of the 2024 Stratford-In-Bloom competition.
## **Promotion**
During the period April 2024 to March 2025 Life-Ways has:
- Increased our presence on social media.
- Worked with other local charities and community hubs to share best practice and publicise initiatives and events.
- Circulated Press Releases to local media with news of initiatives and events held at Life-Ways supporting those most in need.
- Published a Newsletter with details of the work we are doing to support the community.
## **Investments & reserves**
Life-Ways holds financial reserves to ensure long-term financial viability, and to provide additional income and continuity to deliver our charitable objectives. Our financial reserves comprise interest bearing fixed-term bank deposits and a market investments portfolio. We aim to achieve a 4% to 5% return over the medium to long term, with a relatively low risk profile.
Life-Ways’ trustees take professional financial advice from Perspective (Central and East) Limited, an FCA-regulated firm, which also manages our market investments portfolio.
In the year to 31st March 2025, Life-Ways earned £5,329 in bank interest, whilst the investments portfolio recorded a gain of £9,519.
## **Improvements to house and grounds**
Life-Ways staff audit the property regularly to ensure that the structure and comfort of the building is maintained and improved. Work carried out this financial year was mostly maintenance with no major expenditure on improvements.
4
Life-Ways, Reg. Co, No: 03023526
Life-Ways Annual Report and Financial Statements
## **Improvements to the house made this year:**
- New cushions and rugs throughout the house.
- Artworks added to the walls of therapy rooms.
- Replacement of blinds in the Big Room and Rooms 4 and 5
- Professional carpet and furniture cleaning.
- The addition of a free library of books for counsellors and psychotherapists.
## **Improvements to the garden made this year:**
All maintenance and upkeep of the garden now takes place on a voluntary basis, including:
- Mowing the lawns by Eco-Workshop, a local CIC providing supported work for people with learning difficulties.
-
-
-
-
- Repairs to a large section of storm-damaged fencing.
- The maintenance of the pond by a group of local volunteers keen to promote wildlife.
- Trimming of our trees by a Kurdish refugee looking for voluntary work.
- Introduction of a new clutch of rescue hens.
- Installation of a wildlife camera.
## **Therapies and room lettings**
The range and number of therapists working at Life-Ways continued to increase in this financial year. In 2024/25 our bookings increased by 9% to 11,634 hours (2023/24: 10,655 hours). Income from room lettings increased by 18% to £91,914 (2023/24: £77,795).
## **Charitable Giving**
Life-Ways aims to support social and charitable projects through:
- The provision of low-cost and no-cost rooms for charitable and not-for-profit organisations. The total savings that charities and not-for-profits made in the year from low-cost / no-cost room space fell slightly to £10,499 (2023/23: £10,800).
- Targeted donations. Direct charitable giving committed in the year increased to £23,250, an increase of 63% (2023/24: £14,265). We supported projects in partnership with three other local charities, all of which focus on helping young people, being The Autistic Girls Network, Lifespace Trust and Escape Community Arts.
## Charitable room rates:
Rental of rooms in the house is charged at the rate of £9.60 per hour, reduced to £7.20 for Charities. In the garden, the rates are £6.40 per hour and £4.40 per hour respectively.
Charities in this context include not-for-profit organisations, local community and self-help groups and practitioners supporting clients in financial hardship.
We may also offer our rooms free-of-charge to organisations where we have a partnership project or a shared objective.
5
Life-Ways, Reg. Co, No: 03023526
Life-Ways Annual Report and Financial Statements
Other charities, Not-for-Profits and community groups working at Life-Ways during 2024/25 and paying charity rate included:
- The Academy for Emotional Therapeutic Training – providing training for counsellors.
- Bounce Back – a charity helping survivors of breast cancer.
- Mind – a charity working with people who are dealing with mental health issues.
- Neighbours & Needles - a local community knit and natter group.
- New Hope - a Counselling Charity for people unable to pay for therapy.
- Polska Szkoła Sobotnia – A forest school for children with Polish-speaking parents.
- Safeline - a charity supporting survivors of domestic abuse.
- Siblings Bereavement Group - supporting people who have lost a sibling.
- RoSA - a charity working with survivors of rape and sexual abuse.
- The National Childbirth Trust.
- Warwickshire Carers Trust.
Life-Ways provided a venue free of charge to the following:
- Allotment spaces for refugees, people with learning difficulties and local people with no gardens.
- The Autistic Girls Network sessions held here.
- Continual Professional Development and Networking Group for counsellors.
- Escape Community Arts Grow Cook CreATE project.
- Green Minds – a gardening project helping those with mental health challenges.
- Menopause Support Group – run by us with voluntary assistance from Lifeways Therapists.
- Parent’s Support Group - helping those whose children are failing to attend school.
- Run-Talk-Run &Walk Talk Walk – A project to encourage people with minor mental health issues to exercise.
## **Life-Ways grounds**
Life-Ways has beautiful gardens that extend to nearly an acre. They are being used, free of charge, for community and environmental projects including easy-access spaces for special-needs gardeners, a community allotment space, a permaculture garden and a wildlife area with beehives. It used as a therapy and social meeting space by a plethora of local groups and individuals, and we welcome visitors in need of a quiet space throughout the day.
The whole garden is maintained on a voluntary basis by local people and Life-Ways therapists.
6
Life-Ways, Reg. Co, No: 03023526
Life-Ways Annual Report and Financial Statements
## **Future Plans**
Life-Ways will continue to prioritise youth projects in the coming year.
We will continue to support the Autistic Girls Network as they extend the scope of their activities, and are looking at new partnership opportunities with the recently formed Stratford Youth Collective.
## **Public Benefit**
The Trustees believe that they have paid due regard to the Charity Commission's guidance on public benefit in deciding what activities the charity should undertake. Considerations include:
- Centre of excellence promoting and enabling public access to counselling and complementary therapies in line with our core purposes
- Supporting access for disadvantaged individuals and groups
- Helping other charities and not-for-profit organisations with complementary objectives
- Direct charitable giving
- Serving the local community by sharing Life-Ways garden and facilities
## **People and Administration**
Life-Ways employ a full-time manager (James Pavitt) and a part-time assistant. They also do voluntary work at Life-Ways as do the Trustees, Life-Ways practitioners and members of the local community. Policies and procedures are in place to assist smooth running of the operations and compliance with our obligations including:
- Charitable Giving Policy (under review)
- Complaints
- Conflicts of Interest
- Covid Policy
- Engagement of Practitioners
- Environmental Policy
- Equality and Diversity
- Financial Policy (under review)
- Health and Safety
- Privacy Policy
- Risk Assessment (under review)
- Safeguarding
- Volunteering
A Register of Trustees’ Interests is maintained and is a standing agenda item at Trustees’ meetings.
Accounting records are maintained by the Life-Ways manager and reviewed by the Trustee & Secretary (John Wibberley) who also prepares the Annual Accounts. An external accountant (Teresa Fennell) gives specialist advice and carries out the Independent Review of the Report and Accounts.
Payroll services provided free of charge by Counters Consulting Limited, part of TAG Accounting Group
7
Life-Ways, Reg. Co, No: 03023526
Life-Ways Annual Report and Financial Statements
## **STRUCTURE AND GOVERNANCE**
Life-Ways is a Company Limited by Guarantee registered with Companies House, Number 3023526, incorporated on 17th February 1995. Life-Ways is established as a charity and was registered with the Charity Commission, Number 1050697, on 15th November 1995.
The charity's address is 30 Albany Road, Stratford-upon-Avon, Warwickshire CV37 6PG. The charity's governing documents are its Memorandum of Association and Articles of Association.
## **REFERENCE AND ADMINISTRATIVE DETAILS**
**Registered Company number** 03023526 (England and Wales) Registered Charity number 1050697 **Registered office** 30 Albany Road Stratford upon Avon Warwickshire CV37 6PG
## **Trustees**
Jennie Ewing Glynis Fletcher Helen Smith (From September 2024) Sophie Clausen (Resigned June 2024) Stephanie Hershon Mark Phillips John Wibberley
**Chair** Mark Phillips
## **Company Secretary**
John Wibberley
## **Independent Examiner**
Teresa Fennell (CIMA MiP) It Doesn’t Have To Cost The Earth Ltd 47 St Dunstans Close Worcester WR5 2AJ
8
Life-Ways, Reg. Co, No: 03023526
Life-Ways Annual Report and Financial Statements
## **STATEMENT OF TRUSTEES' RESPONSIBILITIES**
The Trustees (who are also the directors of Life-Ways for the purposes of company law) are responsible for preparing the Trustees Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the Trustees are required to:
- select suitable accounting policies and then apply them consistently.
- observe the methods and principles in the Charities SORP.
- make judgements and estimates that are reasonable and prudent.
- state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements.
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in operation.
The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 1985. The Trustees are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by order of the board of Trustees on 18 September 2025 and signed on its behalf by:
Mark Phillips Mark Phillips (Dec 19, 2025 08:47:41 GMT)
Mark Phillips – Chair of Life-Ways Trustees
9
Life-Ways, Reg. Co, No: 03023526
Life-Ways Annual Report and Financial Statements
## **INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF LIFEWAYS CHARITABLE COMPANY (‘THE COMPANY’) FOR THE YEAR ENDED 31 MARCH 2025**
I report to the trustees on my examination of the accounts of the Company for the year ended 31 March 2025.
## **Responsibilities and basis of report**
As the 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 the Company’s accounts 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 that in any material respect:
1. accounting records were not kept in accordance with section 386 of the Companies Act 2006; 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.
**Date** : 19/12/2025
## **Teresa Fennell, ACMA CGMA**
## **It Doesn’t Have to Cost the Earth Ltd**
47 St Dunstans Close, Worcester, WR5 2AJ
10
Life-Ways, Reg. Co, No: 03023526
Life-Ways Annual Report and Financial Statements
## **Life-Ways Company number: 03023526**
## **Statement of Financial Activities including Income and Expenditure Account**
For the Period 1 April 2024 to 31 March 2025
|||**31**|**March**|**2025**||**31 March**|**2024**|
|---|---|---|---|---|---|---|---|
||**Notes**|**Unrestricted**
**funds**|**Restricted**
**Funds**||**Total funds**|**Unrestricted**
**funds**|**Total funds**|
|||**£**|**£**||**£**|**£**|**£**|
|**Income and endowments from:**||||||||
|Donations and Legacies|2|2,977||-|**2,977**|1,682|**1,682**|
|Charitable Activities|3|91,914||-|**91,914**|77,795|**77,795**|
|Investments|4|5,329||-|**5,329**|4|**4**|
|**_Total_**||100,220||-|**100,220**|79,480|**79,480**|
|**Expenditure on:**||||||||
|Raising Funds||0||-|**0**|0|**0**|
|Charitable Activities|5|106,961||-|**106,961**|90,039|**90,039**|
|**_Total_**||106,961||-|**106,961**|90,039|**90,039**|
|||||||||
|**Net income/(expenditure) before**
**gains/(losses) on investments**||(6,741)||-|**(6,741)**|(10,559)|**(10,559)**|
|Transfer between funds||-||-|**-**|-|**-**|
|Realised / Unrealised gain/(loss) on
investments||9,519||-|9,519|49,380|49,380|
|||||||||
|**_Net movement infunds_**||2,777||-|**2,777**|38,821|**38,821**|
|**_Reconciliation of funds:_**||||||||
|Total funds brought forward||924,081||-|**924,081**|885,260|**885,260**|
|**_Totalfunds carriedforward_**|12|**926,858**||-|**926,858**|**924,081**|**924,081**|
The notes on pages 13 to 19 form an integral part of the financial statements.
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.
11
Life-Ways, Reg. Co, No: 03023526
Life-Ways Annual Report and Financial Statements
## **Life-Ways Company number: 03023526**
## **Balance Sheet**
|**Balance Sheet**
**Section B Balance**||||||
|---|---|---|---|---|---|
|**sheet**||**31 March**|**2025**|**31 March**|**2024**|
||**Notes**|**Unrestricted**
**funds**|**Total Funds**|**Unrestricted**
**funds**|**Total Funds**|
|||**£**|**£**|**£**|**£**|
|**Fixed assets**||||||
|Tangible Assets|8|269,218|269,218|279,572|279,572|
|Fixed Asset Investments|9|614,513|614,513|569,665|569,665|
|**_Totalfixed assets_**||883,731|883,731|849,237|849,237|
|**Current assets**||||||
|Cash at bank and in hand|10|47,933|47,933|75,681|75,681|
|Debtors|11|11,433|11,433|8,820|8,820|
|**_Total current assets_**||59,366|59,366|84,501|84,501|
|Creditors: amounts falling due
within one year|12|(16,239)|(16,239)|(9,658)|(9,658)|
|**_Net current(liabilities)/assets_**||43,127|43,127|74,844|74,844|
|||||||
|**_Total assets less current liabilities_**||**926,858**|**926,858**|**924,081**|**924,081**|
|||||||
|**_Total net assets_**||**926,858**|**926,858**|**924,081**|**924,081**|
|**Funds of the Charity**||||||
|Restricted funds|13|-|-|-|-|
|Unrestricted funds|13|926,858|926,858|924,081|924,081|
|**_Totalfunds_**||**926,858**|**926,858**|**924,081**|**924,081**|
## _**The notes on pages 13 to 19 form an integral part of the financial statements.**_
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 in question in accordance with Section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for ensuring that the charitable company keeps accounting records which comply with section 386 of the Companies Act and for preparing accounts which give a true and fair view of the state of the affairs of the charitable company as at the end of the financial year and of its results for the 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 accounts, so far as applicable to the charitable company.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and the charities Statement of Recommended Practice and Financial Reporting Standard 102 section 1A.
The financial statements were approved by the Board of Trustees and authorised for issue on 18 September 2025 and were signed on its behalf by:
## Mark Phillips
Mark Phillips (Dec 19, 2025 08:47:41 GMT)
**MARK STEPHEN PHILLIPS Director and Trustee (Chair)**
12
Life-Ways, Reg. Co, No: 03023526
Life-Ways Annual Report and Financial Statements
## **Notes to the Financial Statements**
## **1) Accounting Policies**
The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows:
## **a) Basis of accounting**
The financial statements have been prepared in accordance with the Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities in preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), second edition - October 2019 (Charities SORP (FRS 102)),the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2016.
The charity has applied the exemption available to small charities in the Charities SORP (FRS 102) and does not include a Statement of Cash Flows in these Financial Statements.
Life-Ways meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting notes.
## **b) Preparation of the accounts on a going concern basis**
The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern.
The trustees do not consider that there are any sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities within the next reporting period.
## **c) Fund accounting**
The Charity maintains various types of funds as follows:
Unrestricted Funds: Designated funds are unrestricted funds of the charity which the trustees have decided at their discretion to set aside to use for a specific purpose in furtherance of the objectives of the Charity.. The Capital fund represents unrestricted funds which the trustees have designated to preserve the permanent infrastructure and long-term financial viabilty of the Charity. The General funds, designated or otherwise, represent unrestricted funds which are expendable at the discretion of the Trustees in the short-to-medium term in furtherance of the objectives of the Charity.
Restricted Funds: Funds which the donor has specified are solely to be used for particular activities or projects. There are no restricted funds at the end of the reporting period.
## **d) Income**
All income is recognised in the Statement of Financial Activities once the Charity has entitlement to the income, any performance conditions attached to the income have been met, it is probable that the income will be received and the amount of income receivable can be measured reliably.
Income from charitable activities includes income earned from trading activities to be used to undertake activities to further the objects of the charity. Income is received in exchange for supplying goods and services and is recognised when entitlement has occurred.
No amount is included in the financial statements for volunteer time in line with the SORP (FRS 102). Further detail is given in the Trustees' Annual Report.
## **e) 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 settlement will be required and the amount of the obligation can be measured reliably. All expenditure directly relates to the objects of the Charity and is shown inclusive of VAT.
13
Life-Ways, Reg. Co, No: 03023526
Life-Ways Annual Report and Financial Statements
## **1) Accounting Policies (Cont.)**
## **f) Allocation of support costs**
Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities. Support costs include office costs, governance costs and administration costs. Governance costs comprise all costs involving public accountability of the charity and its compliance with regulation and good practice. Support costs have been allocated to activities on a basis consistent with the use of the resources. The basis on which support costs have been allocated are set out in note 6.
## **g) Tangible Fixed Assets**
Tangible fixed assets are stated at cost less accumulated depreciation. Depreciation is provided at annual rates calculated to write off each asset over its estimated useful life. The depreciation rates applied are set out below:
**Freehold property:** Main house Main house improvements Permanent garden structures
**Depreciation rate** Over 50 yrs from 2008 valuation Over remaining life of the house Over 10 to 20 years
**Plant and equipment Depreciation rate** Plant and machinery 15% on reducing balance Computer & office eqt. (from 2018) Over 5 years **Fixtures and fittings Depreciation rate** Fixtures and fittings 15% on reducing balance
## **h) Fixed Asset Investments**
All gains and losses are taken to the Statement of Financial Activities as they arise. Unrealised gains are caluculated as the difference between the market value at the year end and opening market value.
## **i) Debtors**
Debtors (including trade debtors and loans receivable) are measured on initial recognition at settlement amount due after any trade discounts or amount advanced by the charity. Subsequently, they are measured at the cash or other consideration expected to be received. Prepayments are valued at the amount prepaid net of any trade discounts due.
## **j) Creditors and provisions**
Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provision are normally recognised at their settlement amount after allowing for any trade discounts due.
## **k) Corporation Tax**
The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a Charity for UK Corporation Tax purposes. It therefore does not suffer tax on income or gains applied for charitable purposes.
## **l) Pension costs and other post-retirement benefits**
The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
14
Life-Ways, Reg. Co, No: 03023526
Life-Ways Annual Report and Financial Statements
## **1) Accounting Policies (Cont.)**
## **m) Key estimates and accounting judgements**
In applying the charity’s accounting policies, the Trustees are required to make judgements, estimates and assumptions in determining the carrying amounts of assets and liabilities. The Trustees’ judgements, estimates and assumptions are based on the best and most reliable evidence available at the time when the decisions are made, and are based on historical experience and other factors that are considered to be applicable. Due to the inherent subjectivity involved in making such judgements, estimates and assumptions, the actual results and outcomes may differ.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to the accounting estimates are recognised in the period in which the estimate is revised, if the revision affects only that period, or in the period of revision and future periods, if the revision affects both current and future periods.
15
Life-Ways, Reg. Co, No: 03023526
Life-Ways Annual Report and Financial Statements
## **2) Income from Donations and legacies**
||**Unrestricted**
**funds**|**Restricted funds**|**2025**
**Total funds**||**2024**
**Total funds**|
|---|---|---|---|---|---|
||**£**|**£**|**£**||**£**|
|Donations and gifts|2,977||2,977||1,682|
|Grants|||-||-|
|Legacies|||-||-|
||**2,977**|**-**|**2,977**||**1,682**|
|**3) Income from Charitable Activities**||||||
||**Unrestricted**
**funds**|**Restricted funds**|**2025**
**Total funds**||**2024**
**Total funds**|
||**£**|**£**|**£**||**£**|
|Grant income|||-||-|
|Therapies, workshops & courses|91,914||91,914||77,795|
||||-||-|
||**91,914**|**-**|**91,914**||**77,795**|
|**4) Income from Investments**||||||
||**Unrestricted**
**funds**|**Restricted funds**|**2025**
**Total funds**||**2024**
**Total funds**|
||**£**|**£**|**£**||**£**|
|Interest from cash investments|5,329||5,329||4|
||**5,329**|**-**|**5,329**||**4**|
|**5) Analysis of Charitable Activities**||||||
|_breakdown for review / consideration_||**Unrestricted**|**Restricted**|**2025**|**2024**|
||**Basis of Allocation**|**funds**|**funds**|**Total funds**|**Total funds**|
|||**£**|**£**|**£**|**£**|
|**Direct Charitable Activities:**||||||
|Staff Costs (see Note 7)|Direct|45,973||45,973|39,416|
|Pensions|Direct|1,502||1,502|1,211|
|Charitable donations|Direct|23,250||23,250|14,265|
||Direct|||-|-|
|**Support Costs:**||||||
|Rates and water|Usage|2,554||2,554|2,569|
|Insurances|Usage|766||766|1,010|
|Light & heat|Usage|3,710||3,710|2,984|
|Telephone|Usage|679||679|670|
|Postage & stationery|Usage|98||98|916|
|Advertising & marketing|Usage|-||-|240|
|Sundries|Usage|1,433||1,433|546|
|Cleaning|Usage|5,676||5,676|4,991|
|Repairs & Maintenance & equipment exp|Usage|8,113||8,113|7,832|
|Computer & IT|Usage|1,515||1,515|1,444|
|Depreciation (see Note 8)|Usage|10,355||10,355|10,739|
|Bank Charges|Usage|-||-|36|
|||**105,622**|-|**105,622**|**88,869**|
|**Governance:**||||||
|Accountancy fees|Direct|||-|-|
|Independent Examination|Direct|900||900|850|
|Other legal & professional|Direct|159||159|-|
|Staff Training and Welfare||280||280|320|
|||**1,339**|**-**|**1,339**|**1,170**|
|**Total Charitable Activities**||**106,961**|**-**|**106,961**|**90,039**|
16
Life-Ways, Reg. Co, No: 03023526
Life-Ways Annual Report and Financial Statements
## **7) Employees**
|Salaries and Wages
Social Security costs
Pensions|**2025**
**2024**
**£**
**£**
45,973
39,416
1,502
1,211
47,474
40,627|
|---|---|
No employees received employment benefits for the reporting period of more than £60,000 (2023: none).
## **Average headcount in the year**
||**2025**|**2024**|
|---|---|---|
|Admin|2|2|
## **8) Tangible Fixed Assets**
|**COST**
At 1 April 2024
Transfers
Additions
At 31 March 2025
**DEPRECIATION**
At 1 April 2024
Transfers
Charge for year
At 31 March 2025
**NET BOOK VALUE**
At 31 March 2024
At 31 March 2025|**Freehold Property**
**Plant and**
**equipment**
**Fixtures and**
**Fittings**
**Totals**
**£**
**£**
**£**
**£**
395,032
15,280
8,623
418,935
-
-
-
-
-
-
-
-|
|---|---|
||395,032
15,280
8,623
418,935|
||121,233
13,596
4,534
139,363
-
9,228
513
613
10,354|
||130,461
14,109
5,147
149,717
273,799
1,684
4,089
279,572|
||264,571
1,171
3,476
269,218|
17
Life-Ways, Reg. Co, No: 03023526
Life-Ways Annual Report and Financial Statements
## **9) Fixed Asset Investments**
|**MARKET VALUE**
At 1 April 2024
Invested in the period
Realised and unrealised gains (losses)
**Market value of investments at 31 March 2025**
**Historical cost of investments**
Cash held by investment manager
**Total value of investments at 31 March 2025**
Investments at market value comprise of:
Managed funds (equities, bonds, gilts)
Cash and Cash Products
**Total Market value of investments at 31 March 2025**
**There were no investment assets outside the UK.**|**2025**
**2024**
**£**
**£**
569,665
520,286
30,000
14,848
49,379
**614,513**
**569,665**
380,800
350,800
-
-
**614,513**
**569,665**
471,233
466,253
143,280
103,412
**614,513**
**569,665**|
|---|---|
## **10) Cash and cash equivalents**
|Bank account - CAF
Bank Account - Current
Cash in Hand
Total Cash at Bank and in Hand
**11) Debtors and Prepayments**
Accounts receivable
Accrued income
Prepayments
**Total**|**2025**
**2024**
**Unrestricted**
**Restricted**
**Total**
**Total**
**£**
**£**
**£**
**£**
-
-
-
47,933
47,933
75,681
-
-
**47,933**
**-**
**47,933**
**75,681**
**2025**
**2024**
**Unrestricted**
**Restricted**
**Total**
**Total**
**£**
**£**
**£**
**£**
83
83
103
8,979
8,979
6,543
2,371
2,371
2,174
**11,433**
**-**
**11,433**
**8,820**|
|---|---|
18
Life-Ways, Reg. Co, No: 03023526
Life-Ways Annual Report and Financial Statements
## **12) Analysis of current liabilities**
## **Analysis of creditors: falling due within one year**
|Accounts payable
PAYE & National Insurance
Independent Examiner's Fee
Accruals
Other creditors
Total|**2025**
**2024**
**Unrestricted**
**Restricted**
**Total**
**£**
**£**
**£**
**£**
2,340
2,340
3,958
-
-
-
900
900
850
12,776
12,776
4,642
223
223
207
**16,239**
**- 16,239**
**9,658**|
|---|---|
## **13) Assets represented by each fund class (all funds are unrestricted)**
|Fixed Assets
Investments
Current Assets
Current Liabilities
**Total net assets at 31 March 2023**|**Designated capital**
**fund**
**Designated**
**general funds**
**Undesignated**
**general funds**
**Total funds**
**(unrestricted)**
**Total Funds**
**2025**
**2025**
**2025**
**2025**
**2024**
**£**
**£**
**£**
**£**
**£**
269218
-
-
269,218
279,572
397575
157,140
59,798
614,513
569,665
-
48,128
11,238
59,366
84,501
-
-
(16,239)
(16,239)
(9,657)|
|---|---|
||**666,793**
**205,268**
**54,797**
**926,858**
**924,081**|
|**_Restricted Funds_**
**_Unrestricted Funds_**
**Total Funds**
**_Prior Year Comparative_**
**_Restricted Funds_**
**_Unrestricted Funds_**
**Total Funds**
_this information populates from the_
_SOFA_
**14) Movement in funds**|**Balance at 31**
**March 2024**
**Income**
**Expenditure**
**Revaluation of**
**Investments**
**Balance at 31**
**March 2025**
**£**
**£**
**£**
**£**
- - - - -|
|---|---|
||**- - - - -**|
||924,081
100,220
(106,961)
9,519
926,858|
||**924,081**
**100,220**
**(106,961)**
**9,519**
**926,858**|
|||
||**924,081**
**100,220**
**(106,961)**
**9,519**
**926,858**|
||**Balance at 31**
**March 2023**
**Income**
**Expenditure**
**Revaluation of**
**Investments**
**Balance at 31**
**March 2024**
**£**
**£**
**£**
**£**
**£**
- - - - -|
||**- - - - -**|
||885,260
79,480
(90,039)
49,380 924,081|
||**885,260 79,480**
**(90,039)**
49,380**924,081**|
|||
||**885,260**
**79,480**
**(90,039)**
**49,380 924,081**|
## **13) Trustees' expenses and remuneration and related party transactions**
The Trustees all give freely of their time and expertise to fulfill their trustees' duties without any form of remuneration or other benefit in cash or kind (2024: £nil).
As part of our charitable giving to Lifespace Trust, Lifeways has paid for Mark Phillips' time at a discounted rate to provide clinical supervison as part of this partnership project. 2025 cost £750 (2024, £150)
19
Life-Ways, Reg. Co, No: 03023526